JSW Ispat Special Products Financial Statements

JSW Ispat Special Products Annually Results

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Y/e 31 Mar Mar-2021 Mar-2020 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 58.70 113 (33) (43)
Op profit growth (930) (89) (13) (659)
EBIT growth (172) (67) (4.70) 448
Net profit growth (143) (77) 11.70 123
Profitability ratios (%)        
OPM 9.16 (1.80) (33) (25)
EBIT margin 4.08 (9) (59) (42)
Net profit margin 5.03 (19) (172) (103)
RoCE 4.23 (3.20) (6.30) (5.60)
RoNW 4.10 57.30 89.60 (38)
RoA 1.30 (1.70) (4.60) (3.50)
Per share ratios ()        
EPS 4.46 (10) -- --
Dividend per share -- -- -- --
Cash EPS (0.40) (15) (124) (113)
Book value per share 29.70 25 (80) 20.60
Valuation ratios        
P/E 5.89 (0.90) -- --
P/CEPS (69) (0.60) (0.30) (0.20)
P/B 1.42 0.67 (0.40) 1.08
EV/EBIDTA 9.20 (162) (35) (30)
Payout (%)        
Dividend payout -- -- -- --
Tax payout -- -- 0.27 --
Liquidity ratios        
Debtor days 10.50 10.30 31.20 55.60
Inventory days 77.80 87 153 166
Creditor days (26) (31) (65) (95)
Leverage ratios        
Interest coverage (0.60) 0.94 0.64 0.72
Net debt / equity 1.75 2.37 (7.60) 28.40
Net debt / op. profit 6.36 (60) (30) (25)
Cost breakup ()        
Material costs (71) (74) (87) (91)
Employee costs (2.80) (4.40) (8.80) (8.70)
Other costs (17) (24) (37) (26)
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Y/e 31 Mar( In .Cr) Mar-2021 Mar-2020 Mar-2017 Mar-2016
Revenue 4,188 2,638 1,238 1,843
yoy growth (%) 58.70 113 (33) (43)
Raw materials (2,970) (1,943) (1,074) (1,669)
As % of sales 70.90 73.70 86.70 90.50
Employee costs (116) (117) (109) (160)
As % of sales 2.76 4.43 8.78 8.68
Other costs (719) (624) (464) (484)
As % of sales 17.20 23.70 37.40 26.20
Operating profit 384 (46) (408) (469)
OPM 9.16 (1.80) (33) (25)
Depreciation (228) (219) (360) (364)
Interest expense (276) (253) (1,134) (1,067)
Other income 15.70 26.30 37.30 66.50
Profit before tax (105) (492) (1,864) (1,834)
Taxes -- -- (5.10) 0.69
Tax rate -- -- 0.27 --
Minorities and other 1.05 0.12 2.74 10.30
Adj. profit (104) (492) (1,867) (1,823)
Exceptional items 315 -- (263) (84)
Net profit 211 (492) (2,130) (1,907)
yoy growth (%) (143) (77) 11.70 123
NPM 5.03 (19) (172) (103)
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2017 Mar-2016
Profit before tax (105) (492) (1,864) (1,834)
Depreciation (228) (219) (360) (364)
Tax paid -- -- (5.10) 0.69
Working capital (969) (1,596) (2,988) (946)
Other operating items -- -- -- --
Operating cashflow (1,302) (2,307) (5,217) (3,144)
Capital expenditure 6,439 5,928 5,930 2,558
Free cash flow 5,137 3,621 713 (586)
Equity raised 3,197 3,959 2,858 4,791
Investments (134) (108) (225) 222
Debt financing/disposal 1,230 615 7,010 2,947
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 9,430 8,087 10,356 7,374
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Equity capital 470 470 470 201
Preference capital 526 526 526 149
Reserves 398 177 698 (3,478)
Net worth 1,393 1,173 1,694 (3,129)
Minority interest
Debt 2,570 2,951 2,475 8,653
Deferred tax liabilities (net) -- -- -- --
Total liabilities 3,962 4,123 4,169 5,524
Fixed assets 3,344 3,491 3,560 6,362
Intangible assets
Investments 1.17 0.75 0.99 572
Deferred tax asset (net) -- -- -- --
Net working capital 487 465 394 (1,514)
Inventories 926 859 738 321
Inventory Days 80.70 119 -- --
Sundry debtors 189 51.80 33 60.70
Debtor days 16.40 7.16 -- --
Other current assets 409 232 212 889
Sundry creditors (288) (258) (285) (161)
Creditor days 25.10 35.70 -- --
Other current liabilities (749) (419) (305) (2,624)
Cash 130 166 214 103
Total assets 3,962 4,123 4,169 5,524
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Particulars ( Rupees In Crores.) Mar-2021 Mar-2020 Mar-2019 Mar-2018 Mar-2017
Gross Sales 4,150 2,608 1,872 1,411 1,375
Excise Duty -- -- -- 35.80 137
Net Sales 4,150 2,608 1,872 1,375 1,238
Other Operating Income 37.60 30.40 7.06 8.16 --
Other Income 330 26.30 27 13.10 37.30
Total Income 4,518 2,664 1,906 1,396 1,275
Total Expenditure ** 3,804 2,684 4,736 1,607 1,909
PBIDT 714 (20) (2,829) (211) (634)
Interest 276 253 445 1,193 1,134
PBDT 438 (273) (3,275) (1,404) (1,768)
Depreciation 228 219 278 355 360
Minority Interest Before NP -- -- -- -- --
Tax -- -- -- -- 5.06
Deferred Tax -- -- -- -- --
Reported Profit After Tax 210 (492) (3,552) (1,759) (2,132)
Minority Interest After NP (1.10) (0.10) (0.10) -- --
Net Profit after Minority Interest 211 (492) (3,552) (1,759) (2,132)
Extra-ordinary Items 315 -- (2,856) (264) (262)
Adjusted Profit After Extra-ordinary item (104) (492) (696) (1,496) (1,870)
EPS (Unit Curr.) 4.48 (10) (97) (88) (106)
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 470 470 470 201 201
Public Shareholding (Number) -- -- -- -- --
Public Shareholding (%) -- -- -- -- --
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- -- --
Non Encumbered - % in Total Promoters Holding -- -- -- -- --
Non Encumbered - % in Total Equity -- -- -- -- --
PBIDTM(%) 17.20 (0.80) (151) (15) (51)
PBDTM(%) 10.60 (10) (175) (102) (143)
PATM(%) 5.05 (19) (190) (128) (172)
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