Kaveri Seed Company Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 13.40 16.20 (5.40) (36)
Op profit growth 14.20 59 (26) (39)
EBIT growth 23.90 53.30 (17) (44)
Net profit growth 22.60 171 (54) (44)
Profitability ratios (%)        
OPM 27.30 27.10 19.80 25.20
EBIT margin 29.40 26.90 20.40 23.20
Net profit margin 27.90 25.80 11 22.50
RoCE 27.10 21.50 14.80 20.60
RoNW 6.57 5.21 2 4.99
RoA 6.43 5.15 2 4.98
Per share ratios ()        
EPS 43.10 32 11.20 24.30
Dividend per share 3 3 -- 2.50
Cash EPS 38.70 28.20 6.89 20.30
Book value per share 159 153 147 134
Valuation ratios        
P/E 7.91 15.20 49.40 15.50
P/CEPS 8.81 17.20 80.10 18.50
P/B 2.14 3.17 3.76 2.80
EV/EBIDTA 6.88 13 21.80 12.90
Payout (%)        
Dividend payout 8.81 11.30 -- 24.80
Tax payout (4.70) (3.80) (4.90) (3.20)
Liquidity ratios        
Debtor days 40.10 38.20 42.90 48.60
Inventory days 213 198 247 245
Creditor days (132) (160) (167) (121)
Leverage ratios        
Interest coverage (571) (365) (595) (725)
Net debt / equity -- -- -- --
Net debt / op. profit -- -- (0.10) --
Cost breakup ()        
Material costs (52) (51) (58) (53)
Employee costs (7.30) (6.60) (5.70) (5.10)
Other costs (14) (15) (16) (16)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 929 819 705 745
yoy growth (%) 13.40 16.20 (5.40) (36)
Raw materials (481) (418) (409) (398)
As % of sales 51.70 51 58.10 53.50
Employee costs (68) (54) (40) (38)
As % of sales 7.31 6.64 5.66 5.14
Other costs (127) (125) (116) (121)
As % of sales 13.70 15.20 16.50 16.20
Operating profit 253 222 140 188
OPM 27.30 27.10 19.80 25.20
Depreciation (26) (25) (30) (27)
Interest expense (0.50) (0.60) (0.20) (0.20)
Other income 45.60 23.70 34.40 13.10
Profit before tax 273 220 143 173
Taxes (13) (8.40) (7) (5.50)
Tax rate (4.70) (3.80) (4.90) (3.20)
Minorities and other (0.90) (0.20) 0.54 0.41
Adj. profit 259 211 137 168
Exceptional items -- -- (59) --
Net profit 259 211 77.80 168
yoy growth (%) 22.60 171 (54) (44)
NPM 27.90 25.80 11 22.50
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 273 220 143 173
Depreciation (26) (25) (30) (27)
Tax paid (13) (8.40) (7) (5.50)
Working capital 261 110 (114) --
Other operating items -- -- -- --
Operating cashflow 495 296 (7.70) 140
Capital expenditure 263 137 94.10 --
Free cash flow 758 433 86.40 140
Equity raised 1,036 1,309 1,664 1,700
Investments 252 344 362 --
Debt financing/disposal 7.67 1.94 3.26 0.02
Dividends paid 18.90 19.80 -- 41.60
Other items -- -- -- --
Net in cash 2,072 2,108 2,115 1,882
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 12.10 12.60 13.20 13.80
Preference capital -- -- -- --
Reserves 947 994 999 1,001
Net worth 959 1,007 1,012 1,014
Minority interest
Debt 6.26 7.11 2.88 4.64
Deferred tax liabilities (net) 18.40 20.60 17.20 --
Total liabilities 984 1,034 1,032 1,018
Fixed assets 268 278 227 234
Intangible assets
Investments 384 510 623 657
Deferred tax asset (net) 1.57 1.48 1.12 0.83
Net working capital 322 236 167 105
Inventories 639 561 443 448
Inventory Days 251 -- 197 232
Sundry debtors 118 84.60 85.90 85.40
Debtor days 46.40 -- 38.30 44.20
Other current assets 160 108 72.70 81.70
Sundry creditors (267) (218) (220) (303)
Creditor days 105 -- 98.10 157
Other current liabilities (328) (300) (214) (207)
Cash 8.05 8.70 13.90 21
Total assets 984 1,034 1,032 1,018
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 930 809 819 706 745
Excise Duty -- -- 0.14 1.37 0.42
Net Sales 930 809 819 705 745
Other Operating Income -- -- -- -- --
Other Income 45.60 43 23.70 34.40 13.10
Total Income 976 852 843 739 758
Total Expenditure ** 677 598 597 625 557
PBIDT 299 255 245 115 201
Interest 0.48 0.55 0.60 0.24 0.24
PBDT 298 254 245 114 200
Depreciation 25.70 23 25.10 30.20 27.40
Minority Interest Before NP -- -- -- -- --
Tax 11.80 11.70 8.69 7.48 5.82
Deferred Tax 0.95 2.01 (0.30) (0.50) (0.40)
Reported Profit After Tax 260 217 211 77.30 167
Minority Interest After NP 0.87 (0.10) 0.17 -- --
Net Profit after Minority Interest 259 217 211 77.30 167
Extra-ordinary Items -- -- -- (54) --
Adjusted Profit After Extra-ordinary item 259 217 211 131 167
EPS (Unit Curr.) 41.80 33.70 31.50 11.30 24.30
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 150 -- -- -- 125
Equity 12.10 12.60 13.20 13.80 13.80
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(%) 32.10 31.50 30 16.30 26.90
PBDTM(%) 32.10 31.40 29.90 16.20 26.90
PATM(%) 27.90 26.90 25.80 11 22.50