KALPATPOWR Results: Quarterly Results of Kalpataru Power Transmission

Y/e 31 Mar	Mar-2021	Mar-2020	Mar-2018	Mar-2017
Growth matrix (%)
Revenue growth	2.16	45.50	15.90	4.55
Op profit growth	1.78	45.20	17.80	9.82
EBIT growth	1.32	41.60	18	14.30
Net profit growth	72.20	38.80	50.50	69.50
Profitability ratios (%)
OPM	11.70	11.70	11.70	11.50
EBIT margin	9.29	9.37	9.63	9.46
Net profit margin	5.18	3.07	3.22	2.48
RoCE	17.30	18.30	14.40	13.10
RoNW	4.73	3.23	2.75	2
RoA	2.42	1.50	1.21	0.86
Per share ratios ()
EPS	44.50	25.20	18.10	10.30
Dividend per share	10	3.50	2.50	2
Cash EPS	20	3.23	5.81	0.39
Book value per share	251	217	174	158
Valuation ratios
P/E	8.48	7.21	26.60	31.40
P/CEPS	18.90	56.20	82.90	834
P/B	1.50	0.84	2.76	2.04
EV/EBIDTA	5.18	3.64	10.10	8.45
Payout (%)
Dividend payout	18.90	13.90	13.70	16.50
Tax payout	(37)	(39)	(40)	(42)
Liquidity ratios
Debtor days	136	123	154	153
Inventory days	32.10	31.70	40.30	44.10
Creditor days	(110)	(101)	(125)	(118)
Leverage ratios
Interest coverage	(2.80)	(2.30)	(2.20)	(1.80)
Net debt / equity	0.69	0.82	1.14	1.07
Net debt / op. profit	1.70	1.85	2.97	2.99
Cost breakup ()
Material costs	(37)	(42)	(43)	(39)
Employee costs	(8)	(7.90)	(7.30)	(7.30)
Other costs	(44)	(39)	(38)	(42)

Y/e 31 Mar( In .Cr)	Mar-2021	Mar-2020	Mar-2018	Mar-2017
Revenue	12,949	12,676	8,709	7,512
yoy growth (%)	2.16	45.50	15.90	4.55
Raw materials	(4,759)	(5,268)	(3,746)	(2,944)
As % of sales	36.70	41.60	43	39.20
Employee costs	(1,041)	(997)	(638)	(549)
As % of sales	8.04	7.86	7.33	7.31
Other costs	(5,639)	(4,928)	(3,303)	(3,151)
As % of sales	43.50	38.90	37.90	42
Operating profit	1,510	1,484	1,022	867
OPM	11.70	11.70	11.70	11.50
Depreciation	(373)	(340)	(192)	(181)
Interest expense	(436)	(521)	(378)	(384)
Other income	67	44	8.46	24
Profit before tax	768	667	461	326
Taxes	(283)	(258)	(183)	(138)
Tax rate	(37)	(39)	(40)	(42)
Minorities and other	8.98	--	2.42	29.20
Adj. profit	494	409	281	218
Exceptional items	210	4.06	--	--
Net profit	671	390	281	186
yoy growth (%)	72.20	38.80	50.50	69.50
NPM	5.18	3.07	3.22	2.48

Y/e 31 Mar ( In .Cr)	Mar-2021	Mar-2020	Mar-2018	Mar-2017
Revenue	7,671	7,904	5,746	4,894
yoy growth (%)	(3)	37.60	17.40	13.80
Raw materials	(2,794)	(3,268)	(2,621)	(2,035)
As % of sales	36.40	41.30	45.60	41.60
Employee costs	(551)	(526)	(349)	(292)
As % of sales	7.18	6.65	6.07	5.96
Other costs	(3,519)	(3,251)	(2,145)	(2,037)
As % of sales	45.90	41.10	37.30	41.60
Operating profit	807	860	631	529
OPM	10.50	10.90	11	10.80
Depreciation	(115)	(110)	(77)	(78)
Interest expense	(109)	(166)	(103)	(98)
Other income	79.20	58.40	48	49.30
Profit before tax	663	642	499	403
Taxes	(216)	(203)	(177)	(134)
Tax rate	(33)	(32)	(36)	(33)
Minorities and other	--	--	--	--
Adj. profit	447	439	322	269
Exceptional items	168	23.90	--	--
Net profit	615	463	322	269
yoy growth (%)	32.90	43.80	19.70	39.80
NPM	8.02	5.86	5.60	5.50

Y/e 31 Mar ( In .Cr)	Mar-2021	Mar-2020	Mar-2018	Mar-2017
Profit before tax	768	667	461	326
Depreciation	(373)	(340)	(192)	(181)
Tax paid	(283)	(258)	(183)	(138)
Working capital	3,238	3,265	1,356	524
Other operating items	--	--	--	--
Operating cashflow	3,349	3,334	1,443	532
Capital expenditure	3,607	2,893	1,725	944
Free cash flow	6,956	6,227	3,168	1,477
Equity raised	4,778	4,814	4,317	4,304
Investments	(135)	(82)	39.40	34.50
Debt financing/disposal	2,557	2,398	1,672	467
Dividends paid	127	54.20	38.40	30.70
Other items	--	--	--	--
Net in cash	14,283	13,410	9,234	6,314

Y/e 31 Mar ( In .Cr)	Mar-2021	Mar-2020	Mar-2019	Mar-2018
Equity capital	29.80	30.90	30.70	30.70
Preference capital	--	--	--	--
Reserves	3,709	3,327	3,089	2,643
Net worth	3,739	3,358	3,119	2,673
Minority interest
Debt	3,153	3,296	2,610	3,319
Deferred tax liabilities (net)	32.50	38.20	13.30	16.90
Total liabilities	7,045	6,830	5,903	6,156
Fixed assets	3,506	3,499	3,157	3,786
Intangible assets
Investments	1.13	1.36	1.46	50.50
Deferred tax asset (net)	130	119	140	147
Net working capital	2,815	2,665	2,360	1,890
Inventories	1,071	1,209	1,117	992
Inventory Days	30.20	34.80	--	41.60
Sundry debtors	5,017	4,616	4,214	3,955
Debtor days	141	133	--	166
Other current assets	5,036	5,790	5,275	3,189
Sundry creditors	(3,603)	(3,271)	(3,154)	(2,905)
Creditor days	102	94.20	--	122
Other current liabilities	(4,706)	(5,679)	(5,091)	(3,341)
Cash	592	546	245	283
Total assets	7,045	6,830	5,903	6,156

Select Period

Particulars ( Rupees In Crores.)	Mar-2022	Dec-2021	Sep-2021	Jun-2021	Mar-2021
Gross Sales	4,135	3,889	3,549	3,204	4,086
Excise Duty	--	--	--	--	--
Net Sales	4,135	3,889	3,549	3,204	4,086
Other Operating Income	--	--	--	--	--
Other Income	34	227	14	14	18
Total Income	4,169	4,116	3,563	3,218	4,104
Total Expenditure **	3,833	3,573	3,310	2,907	3,641
PBIDT	336	543	253	311	463
Interest	98	102	98	98	96
PBDT	238	441	155	213	367
Depreciation	81	93	91	86	84
Minority Interest Before NP	--	--	--	--	--
Tax	18	80	31	62	137
Deferred Tax	24	9	(50)	(13)	(41)
Reported Profit After Tax	115	259	83	78	187
Minority Interest After NP	8	(11)	--	(2)	13
Net Profit after Minority Interest	107	270	83	80	174
Extra-ordinary Items	--	149	(7.70)	--	--
Adjusted Profit After Extra-ordinary item	107	121	90.70	80	174
EPS (Unit Curr.)	7.19	18.10	5.57	5.39	11.70
Book Value (Unit Curr.)	--	--	--	--	--
Dividend (%)	--	--	--	--	--
Equity	30	30	30	30	30
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(%)	8.13	14	7.13	9.71	11.30
PBDTM(%)	5.76	11.30	4.37	6.65	8.98
PATM(%)	2.78	6.66	2.34	2.43	4.58

Y/e 31 Mar ( In .Cr)	Mar-2021	Mar-2020	Mar-2019	Mar-2018
Equity capital	29.80	30.90	30.70	30.70
Preference capital	--	--	--	--
Reserves	3,833	3,505	3,121	2,739
Net worth	3,863	3,536	3,152	2,770
Minority interest
Debt	1,285	1,334	647	773
Deferred tax liabilities (net)	7.99	15	13.50	13.40
Total liabilities	5,156	4,885	3,812	3,557
Fixed assets	689	673	578	543
Intangible assets
Investments	886	864	649	785
Deferred tax asset (net)	31.40	9.86	29.10	44.70
Net working capital	3,238	3,000	2,411	2,102
Inventories	598	739	622	483
Inventory Days	28.50	34.10	--	30.70
Sundry debtors	3,732	3,517	3,281	3,292
Debtor days	178	162	--	209
Other current assets	3,417	3,524	2,960	2,062
Sundry creditors	(2,319)	(2,152)	(2,082)	(1,920)
Creditor days	110	99.40	--	122
Other current liabilities	(2,191)	(2,628)	(2,371)	(1,815)
Cash	312	337	145	81.60
Total assets	5,156	4,885	3,812	3,557

KALPATPOWR Financial Statements