Kwality Pharmaceuticals Financial Statements

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Y/e 31 Mar Mar-2018 Mar-2017 Mar-2016 Mar-2015
Growth matrix (%)        
Revenue growth 39.80 32.50 41.60 --
Op profit growth 32.10 76.70 53.20 --
EBIT growth 26 105 54.60 --
Net profit growth 35.10 116 69.50 --
Profitability ratios (%)        
OPM 8.48 8.98 6.73 6.22
EBIT margin 6.90 7.65 4.94 4.53
Net profit margin 3.31 3.42 2.09 1.75
RoCE 18.90 19 11.90 --
RoNW 4.11 3.55 1.90 --
RoA 2.27 2.12 1.26 --
Per share ratios ()        
EPS 4.26 6.32 2.56 1.82
Dividend per share -- 0.60 -- --
Cash EPS 1.51 1.65 (0.30) (0.80)
Book value per share 28.70 49.30 43.40 38.40
Valuation ratios        
P/E 9.62 7.59 -- --
P/CEPS 27.10 29.10 -- --
P/B 1.43 0.97 -- --
EV/EBIDTA 5.41 6.57 -- --
Payout (%)        
Dividend payout -- 11 -- --
Tax payout (39) (42) (48) (41)
Liquidity ratios        
Debtor days 79.20 75.40 66.60 --
Inventory days 38.30 44.90 41.40 --
Creditor days (51) (46) (37) --
Leverage ratios        
Interest coverage (4.30) (4) (3.10) (2.30)
Net debt / equity 0.83 0.63 0.53 0.36
Net debt / op. profit 2.13 1.82 2.31 2.10
Cost breakup ()        
Material costs (74) (72) (76) (73)
Employee costs (4.10) (4.30) (3.60) (3.90)
Other costs (14) (14) (14) (16)
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Y/e 31 Mar( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Revenue 137 98.30 74.20 52.40
yoy growth (%) 39.80 32.50 41.60 --
Raw materials (101) (71) (56) (38)
As % of sales 73.70 72.40 75.70 73.50
Employee costs (5.60) (4.20) (2.70) (2.10)
As % of sales 4.08 4.30 3.59 3.93
Other costs (19) (14) (10) (8.60)
As % of sales 13.80 14.30 14 16.40
Operating profit 11.70 8.82 4.99 3.26
OPM 8.48 8.98 6.73 6.22
Depreciation (3) (2.50) (1.70) (1.30)
Interest expense (2.20) (1.90) (1.20) (1)
Other income 0.80 1.21 0.36 0.42
Profit before tax 7.30 5.65 2.48 1.35
Taxes (2.90) (2.40) (1.20) (0.50)
Tax rate (39) (42) (48) (41)
Minorities and other 0.12 0.09 0.27 0.11
Adj. profit 4.55 3.36 1.55 0.92
Exceptional items -- -- -- --
Net profit 4.55 3.36 1.55 0.92
yoy growth (%) 35.10 116 69.50 --
NPM 3.31 3.42 2.09 1.75
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Y/e 31 Mar ( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Profit before tax 7.30 5.65 2.48 1.35
Depreciation (3) (2.50) (1.70) (1.30)
Tax paid (2.90) (2.40) (1.20) (0.50)
Working capital 16.90 4.27 (4.30) --
Other operating items -- -- -- --
Operating cashflow 18.40 5.04 (4.70) --
Capital expenditure 13.10 6.79 (6.80) --
Free cash flow 31.50 11.80 (11) --
Equity raised 35.60 34.30 35.40 --
Investments 4.34 1.71 (1.70) --
Debt financing/disposal 20.50 7.61 (3.80) --
Dividends paid -- 0.31 -- --
Other items -- -- -- --
Net in cash 91.90 55.70 18.40 --
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Equity capital 10.40 10.40 5.19 5.01
Preference capital -- -- -- --
Reserves 26.90 19.40 20.40 16.80
Net worth 37.30 29.80 25.60 21.80
Minority interest
Debt 28.70 26.50 19.10 12.90
Deferred tax liabilities (net) 0.21 0.40 0.45 0.52
Total liabilities 65.30 55.60 44.60 34.80
Fixed assets 29.10 20.40 17 12.70
Intangible assets
Investments 4.82 5.34 3.65 1.94
Deferred tax asset (net) 0.09 0.19 0.05 0.07
Net working capital 29.90 28.10 20.90 18.70
Inventories 11.30 15 13.90 10.40
Inventory Days -- 39.90 51.40 50.90
Sundry debtors 38.40 37 22.60 18
Debtor days -- 98.30 83.90 88.70
Other current assets 20.40 16.80 10.80 6.82
Sundry creditors (17) (22) (13) (9.70)
Creditor days -- 58.80 47.30 47.60
Other current liabilities (23) (19) (14) (6.90)
Cash 1.40 1.61 2.99 1.35
Total assets 65.30 55.60 44.60 34.80
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 139 166 137 98.30 74.20
Excise Duty -- -- -- -- --
Net Sales 139 166 137 98.30 74.20
Other Operating Income -- -- -- -- --
Other Income 3.66 0.61 0.80 1.21 0.36
Total Income 143 167 138 99.50 74.50
Total Expenditure ** 125 151 126 89.50 69.20
PBIDT 17.90 16.30 12.50 10 5.36
Interest 2.50 2.28 2.19 1.88 1.19
PBDT 15.40 14 10.30 8.16 4.17
Depreciation 4.43 3.12 2.98 2.51 1.69
Minority Interest Before NP -- -- -- -- --
Tax 3.03 3.44 3.06 2.37 1.19
Deferred Tax (0.30) (0.10) (0.20) -- --
Reported Profit After Tax 8.21 7.56 4.42 3.28 1.28
Minority Interest After NP (0.10) -- (0.10) (0.10) (0.30)
Net Profit after Minority Interest 8.32 7.55 4.55 3.36 1.55
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 8.32 7.55 4.55 3.36 1.55
EPS (Unit Curr.) 8.02 7.28 4.38 6.48 3.41
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- 6 --
Equity 10.40 10.40 10.40 5.19 5.01
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(%) 12.80 9.81 9.06 10.20 7.23
PBDTM(%) 11 8.44 7.47 8.30 5.62
PATM(%) 5.89 4.55 3.21 3.34 1.73