L T Foods Financial Statements

L T Foods Nine Monthly Results

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Y/e 31 Mar Mar-2021 Mar-2020 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth 12 14.70 11.40 9.13
Op profit growth 18.20 24.50 5.53 0.45
EBIT growth 17.40 14.60 3.67 12.80
Net profit growth 48.50 37 14.90 62.50
Profitability ratios (%)        
OPM 12 11.40 10.50 11
EBIT margin 10.50 10.10 10.10 10.80
Net profit margin 5.90 4.45 3.73 3.61
RoCE 14.30 13.50 14.20 15.60
RoNW 4.23 3.47 3.65 4.88
RoA 2 1.50 1.32 1.30
Per share ratios ()        
EPS 9.04 6.23 4.52 4.85
Dividend per share 0.50 0.50 0.15 0.15
Cash EPS 5.18 2.91 2.64 2.33
Book value per share 54.90 46.30 36.90 24.90
Valuation ratios        
P/E 6.44 3.21 19 13.60
P/CEPS 11.30 6.87 32.40 28.40
P/B 1.06 0.43 2.33 2.65
EV/EBIDTA 5.69 4.68 10.30 8.19
Payout (%)        
Dividend payout -- -- 3.56 3.43
Tax payout (27) (27) (33) (33)
Liquidity ratios        
Debtor days 43.50 47.90 47 47.20
Inventory days 156 153 160 154
Creditor days (34) (30) (31) (23)
Leverage ratios        
Interest coverage (5.60) (3.20) (2.50) (2.20)
Net debt / equity 0.88 1.17 1.29 2.36
Net debt / op. profit 2.77 3.70 4.02 4.38
Cost breakup ()        
Material costs (69) (74) (74) (74)
Employee costs (5.60) (4.30) (3.70) (3.60)
Other costs (13) (10) (12) (11)
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Y/e 31 Mar( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Revenue 4,644 4,146 3,614 3,245
yoy growth (%) 12 14.70 11.40 9.13
Raw materials (3,227) (3,067) (2,671) (2,410)
As % of sales 69.50 74 73.90 74.30
Employee costs (258) (180) (135) (117)
As % of sales 5.55 4.35 3.74 3.60
Other costs (603) (428) (429) (360)
As % of sales 13 10.30 11.90 11.10
Operating profit 556 471 378 358
OPM 12 11.40 10.50 11
Depreciation (108) (91) (50) (55)
Interest expense (87) (132) (147) (157)
Other income 41.80 37.90 36.20 48.10
Profit before tax 402 285 218 194
Taxes (109) (78) (71) (65)
Tax rate (27) (27) (33) (33)
Minorities and other (15) (15) (9.80) (12)
Adj. profit 278 192 136 118
Exceptional items -- (4.20) -- --
Net profit 274 185 135 117
yoy growth (%) 48.50 37 14.90 62.50
NPM 5.90 4.45 3.73 3.61
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Profit before tax 402 285 218 194
Depreciation (108) (91) (50) (55)
Tax paid (109) (78) (71) (65)
Working capital 1,256 1,053 621 193
Other operating items -- -- -- --
Operating cashflow 1,441 1,169 717 267
Capital expenditure 1,104 971 450 171
Free cash flow 2,545 2,140 1,168 438
Equity raised 1,683 1,499 1,308 890
Investments 25.40 28.60 9.27 9.14
Debt financing/disposal 608 565 169 179
Dividends paid -- -- 4.80 4.02
Other items -- -- -- --
Net in cash 4,861 4,233 2,659 1,520
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Equity capital 32 32 32 32
Preference capital -- -- -- --
Reserves 1,724 1,449 1,297 1,147
Net worth 1,755 1,481 1,329 1,179
Minority interest
Debt 1,570 1,764 1,690 1,548
Deferred tax liabilities (net) 8.43 2.74 12.50 10.80
Total liabilities 3,469 3,366 3,137 2,793
Fixed assets 913 923 643 594
Intangible assets
Investments 28.70 33.40 36.10 14.30
Deferred tax asset (net) 27.90 34.60 21.10 17.40
Net working capital 2,469 2,350 2,399 2,139
Inventories 2,223 1,750 1,891 1,729
Inventory Days 175 154 -- 175
Sundry debtors 487 620 535 468
Debtor days 38.30 54.50 -- 47.30
Other current assets 412 435 421 416
Sundry creditors (504) (261) (275) (339)
Creditor days 39.60 23 -- 34.20
Other current liabilities (149) (194) (173) (135)
Cash 30 24.90 37.70 29.10
Total assets 3,469 3,366 3,137 2,793
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Particulars ( Rupees In Crores.) Dec-2020 Dec-2019 Dec-2018 Dec-2017 Dec-2016
Gross Sales 3,499 2,948 2,882 2,523 2,317
Excise Duty -- -- -- -- --
Net Sales 3,499 2,948 2,882 2,523 2,317
Other Operating Income -- -- -- -- --
Other Income 24.50 19.10 15.30 28.50 31.90
Total Income 3,524 2,967 2,897 2,551 2,349
Total Expenditure ** 3,066 2,614 2,579 2,242 2,053
PBIDT 458 353 318 309 296
Interest 68.30 96.60 89.90 106 118
PBDT 389 256 228 202 178
Depreciation 77.70 62 47.60 32.60 42
Minority Interest Before NP -- -- -- -- --
Tax 82.80 58.90 65 60.30 47
Deferred Tax (0.50) (5.40) -- (0.40) (1.90)
Reported Profit After Tax 229 141 116 110 91.40
Minority Interest After NP 11.70 10.40 8.80 -- 6.37
Net Profit after Minority Interest 218 131 107 110 85
Extra-ordinary Items -- (2.70) -- -- --
Adjusted Profit After Extra-ordinary item 218 133 107 110 85
EPS (Unit Curr.) 6.81 4.08 3.34 3.04 34.30
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 50 -- -- -- --
Equity 32 32 32 36.20 26.70
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(%) 13.10 12 11 12.20 12.80
PBDTM(%) 11.10 8.70 7.92 8.02 7.70
PATM(%) 6.55 4.78 4.01 4.35 3.94
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