L T Foods Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 14.70 11.40 9.13 8.73
Op profit growth 24.50 5.53 0.45 35.20
EBIT growth 14.60 3.67 12.80 18.70
Net profit growth 37 14.90 62.50 (0.50)
Profitability ratios (%)        
OPM 11.40 10.50 11 12
EBIT margin 10.10 10.10 10.80 10.50
Net profit margin 4.45 3.73 3.61 2.43
RoCE 13.50 14.20 15.60 14.30
RoNW 3.47 3.65 4.88 3.61
RoA 1.50 1.32 1.30 0.83
Per share ratios ()        
EPS 6.23 4.52 4.85 27.20
Dividend per share 0.50 0.15 0.15 1.50
Cash EPS 2.91 2.64 2.33 7.72
Book value per share 46.30 36.90 24.90 201
Valuation ratios        
P/E 3.21 19 13.60 0.83
P/CEPS 6.87 32.40 28.40 2.93
P/B 0.43 2.33 2.65 0.11
EV/EBIDTA 4.68 10.30 8.19 5.97
Payout (%)        
Dividend payout -- 3.56 3.43 5.57
Tax payout (27) (33) (33) (29)
Liquidity ratios        
Debtor days 47.90 47 47.20 42.60
Inventory days 153 160 154 163
Creditor days (30) (31) (23) (17)
Leverage ratios        
Interest coverage (3.20) (2.50) (2.20) (2.10)
Net debt / equity 1.17 1.29 2.36 2.92
Net debt / op. profit 3.70 4.02 4.38 4.39
Cost breakup ()        
Material costs (74) (74) (74) (71)
Employee costs (4.30) (3.70) (3.60) (3)
Other costs (10) (12) (11) (14)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 4,146 3,614 3,245 2,973
yoy growth (%) 14.70 11.40 9.13 8.73
Raw materials (3,067) (2,671) (2,410) (2,105)
As % of sales 74 73.90 74.30 70.80
Employee costs (180) (135) (117) (90)
As % of sales 4.35 3.74 3.60 3.02
Other costs (428) (429) (360) (422)
As % of sales 10.30 11.90 11.10 14.20
Operating profit 471 378 358 357
OPM 11.40 10.50 11 12
Depreciation (91) (50) (55) (52)
Interest expense (132) (147) (157) (148)
Other income 37.90 36.20 48.10 6.26
Profit before tax 285 218 194 164
Taxes (78) (71) (65) (47)
Tax rate (27) (33) (33) (29)
Minorities and other (15) (9.80) (12) (0.40)
Adj. profit 192 136 118 116
Exceptional items (4.20) -- -- (44)
Net profit 185 135 117 72.10
yoy growth (%) 37 14.90 62.50 (0.50)
NPM 4.45 3.73 3.61 2.43
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 285 218 194 164
Depreciation (91) (50) (55) (52)
Tax paid (78) (71) (65) (47)
Working capital 1,136 852 353 73.90
Other operating items -- -- -- --
Operating cashflow 1,252 948 427 139
Capital expenditure 1,065 495 216 107
Free cash flow 2,316 1,443 644 245
Equity raised 1,499 1,252 810 807
Investments 30.10 9.45 9.27 1.30
Debt financing/disposal 802 349 231 166
Dividends paid -- 4.80 4.02 4.02
Other items -- -- -- --
Net in cash 4,648 3,059 1,698 1,224
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 32 32 32 26.70
Preference capital -- -- -- --
Reserves 1,449 1,297 1,147 638
Net worth 1,481 1,329 1,179 665
Minority interest
Debt 1,764 1,690 1,548 1,610
Deferred tax liabilities (net) 2.74 12.50 10.80 0.75
Total liabilities 3,366 3,137 2,793 2,323
Fixed assets 923 643 594 413
Intangible assets
Investments 33.40 36.10 14.30 14.30
Deferred tax asset (net) 34.60 21.10 17.40 12.10
Net working capital 2,350 2,399 2,139 1,842
Inventories 1,750 1,891 1,729 1,447
Inventory Days 154 -- 175 163
Sundry debtors 620 535 468 463
Debtor days 54.50 -- 47.30 52.10
Other current assets 435 421 416 345
Sundry creditors (261) (275) (339) (215)
Creditor days 23 -- 34.20 24.20
Other current liabilities (194) (173) (135) (198)
Cash 24.90 37.70 29.10 41.50
Total assets 3,366 3,137 2,793 2,323
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Particulars ( Rupees In Crores.) Dec-2019 Dec-2018 Dec-2017 Dec-2016 Dec-2015
Gross Sales 2,948 2,882 2,523 2,317 2,168
Excise Duty -- -- -- -- --
Net Sales 2,948 2,882 2,523 2,317 2,168
Other Operating Income -- -- -- -- 4.59
Other Income 19.10 15.30 28.50 31.90 0.67
Total Income 2,967 2,897 2,551 2,349 2,174
Total Expenditure ** 2,614 2,579 2,242 2,053 1,910
PBIDT 353 318 309 296 264
Interest 96.60 89.90 106 118 110
PBDT 256 228 202 178 154
Depreciation 62 47.60 32.60 42 40.60
Minority Interest Before NP -- -- -- -- --
Tax 58.90 65 60.30 47 40.50
Deferred Tax (5.40) -- (0.40) (1.90) --
Reported Profit After Tax 141 116 110 91.40 72.80
Minority Interest After NP 10.40 8.80 -- 6.37 4.98
Net Profit after Minority Interest 131 107 110 85 66.60
Extra-ordinary Items (2.70) -- -- -- --
Adjusted Profit After Extra-ordinary item 133 107 110 85 66.60
EPS (Unit Curr.) 4.08 3.34 3.04 34.30 25.20
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 32 32 36.20 26.70 26.50
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 11 12.20 12.80 12.20
PBDTM(%) 8.70 7.92 8.02 7.70 7.10
PATM(%) 4.78 4.01 4.35 3.94 3.36