Kirloskar Oil Engines Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 10.60 14.30 8.53 --
Op profit growth 8.74 (6.40) 2.01 --
EBIT growth 8.20 (12) 6.61 --
Net profit growth 28 (17) 5.12 --
Profitability ratios (%)        
OPM 8.50 8.65 10.60 11.20
EBIT margin 7.17 7.33 9.55 9.73
Net profit margin 5.48 4.73 6.50 6.71
RoCE 13 13.10 16.20 --
RoNW 2.79 2.27 2.84 --
RoA 2.48 2.11 2.76 --
Per share ratios ()        
EPS 13 9.42 12 9.40
Dividend per share 4 5 5 5
Cash EPS 6.77 2.26 4.37 3.74
Book value per share 121 109 112 99.80
Valuation ratios        
P/E 6.70 34.40 32.40 22.50
P/CEPS 12.90 143 89.30 56.60
P/B 0.72 2.98 3.49 2.12
EV/EBIDTA 3.95 14.20 15.40 8.62
Payout (%)        
Dividend payout 6.42 55.10 41.60 105
Tax payout (25) (33) (31) (17)
Liquidity ratios        
Debtor days 43.90 36 24.50 --
Inventory days 40.50 34.10 29.50 --
Creditor days (52) (54) (53) --
Leverage ratios        
Interest coverage (17) (19) (91) (27)
Net debt / equity 0.03 0.05 -- --
Net debt / op. profit 0.16 0.27 -- (0.10)
Cost breakup ()        
Material costs (63) (64) (63) (63)
Employee costs (8) (7.30) (7.60) (7.50)
Other costs (20) (20) (19) (19)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 3,379 3,055 2,674 2,464
yoy growth (%) 10.60 14.30 8.53 --
Raw materials (2,142) (1,955) (1,688) (1,542)
As % of sales 63.40 64 63.10 62.60
Employee costs (270) (222) (202) (186)
As % of sales 8 7.27 7.57 7.53
Other costs (680) (614) (501) (459)
As % of sales 20.10 20.10 18.70 18.60
Operating profit 287 264 282 277
OPM 8.50 8.65 10.60 11.20
Depreciation (87) (112) (111) (111)
Interest expense (14) (12) (2.80) (9)
Other income 42.50 71.80 84 74.40
Profit before tax 228 213 253 231
Taxes (57) (70) (79) (40)
Tax rate (25) (33) (31) (17)
Minorities and other (2.70) 1.94 -- --
Adj. profit 169 145 174 191
Exceptional items 16.50 -- -- (25)
Net profit 185 145 174 165
yoy growth (%) 28 (17) 5.12 --
NPM 5.48 4.73 6.50 6.71
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 228 213 253 231
Depreciation (87) (112) (111) (111)
Tax paid (57) (70) (79) (40)
Working capital 591 176 (176) --
Other operating items -- -- -- --
Operating cashflow 675 207 (113) --
Capital expenditure 507 406 (406) --
Free cash flow 1,182 613 (519) --
Equity raised 2,946 3,062 3,033 --
Investments (358) (313) 313 --
Debt financing/disposal 196 129 3.87 --
Dividends paid -- 72.30 72.30 145
Other items -- -- -- --
Net in cash 3,965 3,564 2,904 --
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 28.90 28.90 28.90 28.90
Preference capital -- -- -- --
Reserves 1,716 1,670 1,547 1,588
Net worth 1,745 1,699 1,575 1,617
Minority interest
Debt 189 89.80 142 12.50
Deferred tax liabilities (net) 33.50 48.60 50.60 32.60
Total liabilities 1,967 1,837 1,768 1,662
Fixed assets 701 704 732 455
Intangible assets
Investments 433 711 675 988
Deferred tax asset (net) 21.40 30 28.60 20.90
Net working capital 670 193 261 178
Inventories 406 310 345 226
Inventory Days 43.80 -- 41.20 30.90
Sundry debtors 412 408 402 201
Debtor days 44.50 -- 48 27.50
Other current assets 665 264 276 280
Sundry creditors (393) (429) (485) (348)
Creditor days 42.50 -- 58 47.50
Other current liabilities (420) (360) (276) (181)
Cash 143 198 70.30 20
Total assets 1,967 1,837 1,768 1,662
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Particulars ( Rupees In Crores.) Sep-2020 Jun-2020 Mar-2020 Dec-2019 Sep-2019
Gross Sales 828 422 827 835 818
Excise Duty -- -- -- -- --
Net Sales 828 422 827 835 818
Other Operating Income -- -- -- -- --
Other Income 6.93 5.11 10.70 7.88 27.40
Total Income 835 427 837 843 846
Total Expenditure ** 719 412 747 766 763
PBIDT 115 15.80 90.30 76.40 83
Interest 12.90 5.17 5.16 3.16 3.32
PBDT 103 10.70 85.10 73.30 79.70
Depreciation 20.30 19.90 21.80 22.10 21.30
Minority Interest Before NP -- -- -- -- --
Tax 19.40 2.94 13.90 6.61 18.60
Deferred Tax 3.30 (5.50) (4.10) (1.80) (1.10)
Reported Profit After Tax 59.50 (6.70) 53.50 46.40 40.90
Minority Interest After NP 1.97 0.14 0.81 0.40 0.91
Net Profit after Minority Interest 57.50 (6.90) 52.70 46 40
Extra-ordinary Items -- -- -- -- 11.20
Adjusted Profit After Extra-ordinary item 57.50 (6.90) 52.70 46 28.80
EPS (Unit Curr.) 3.98 (0.50) 3.64 3.18 2.77
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- 200 -- --
Equity 28.90 28.90 28.90 28.90 28.90
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(%) 13.90 3.75 10.90 9.15 10.10
PBDTM(%) 12.40 2.53 10.30 8.77 9.74
PATM(%) 7.19 (1.60) 6.47 5.55 5