Laurus Labs Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2019 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth 23.60 11.50 7.96 7.15
Op profit growth 58.60 (14) 1.39 12.50
EBIT growth 84.30 (34) (5.10) 19.20
Net profit growth 172 (44) (12) 42.30
Profitability ratios (%)        
OPM 19.90 15.50 20.10 21.40
EBIT margin 13.50 9.07 15.40 17.50
Net profit margin 9.01 4.09 8.15 9.99
RoCE 13.40 7.83 13.10 15.80
RoNW 3.84 1.54 2.98 4.35
RoA 2.24 0.88 1.73 2.25
Per share ratios ()        
EPS 23.90 8.81 15.80 18
Dividend per share 2.50 1.50 1.50 1.50
Cash EPS 6.36 (6.60) 3.98 7.97
Book value per share 166 146 140 126
Valuation ratios        
P/E 2.70 9.07 6.36 5.73
P/CEPS 10.10 (12) 25.30 12.90
P/B 0.39 0.55 0.72 0.82
EV/EBIDTA 7.90 14.20 14.30 14.30
Payout (%)        
Dividend payout 7.58 -- 9.49 8.34
Tax payout (13) (22) (29) (19)
Liquidity ratios        
Debtor days 96.80 102 101 97
Inventory days 102 101 97.10 95.40
Creditor days (98) (88) (78) (73)
Leverage ratios        
Interest coverage (4.30) (2.40) (4) (3.30)
Net debt / equity 0.60 0.66 0.66 0.63
Net debt / op. profit 1.87 2.90 2.36 2.05
Cost breakup ()        
Material costs (50) (54) (52) (52)
Employee costs (12) (13) (13) (12)
Other costs (18) (18) (16) (15)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Revenue 2,832 2,292 2,056 1,905
yoy growth (%) 23.60 11.50 7.96 7.15
Raw materials (1,413) (1,236) (1,064) (997)
As % of sales 49.90 53.90 51.70 52.30
Employee costs (345) (289) (258) (223)
As % of sales 12.20 12.60 12.50 11.70
Other costs (509) (411) (321) (277)
As % of sales 18 17.90 15.60 14.50
Operating profit 565 356 413 408
OPM 19.90 15.50 20.10 21.40
Depreciation (187) (164) (125) (106)
Interest expense (90) (88) (80) (100)
Other income 5.92 16.20 29.20 32.40
Profit before tax 294 120 237 234
Taxes (38) (26) (70) (44)
Tax rate (13) (22) (29) (19)
Minorities and other -- -- -- --
Adj. profit 255 93.80 168 190
Exceptional items -- -- -- --
Net profit 255 93.80 168 190
yoy growth (%) 172 (44) (12) 42.30
NPM 9.01 4.09 8.15 9.99
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Profit before tax 294 120 237 234
Depreciation (187) (164) (125) (106)
Tax paid (38) (26) (70) (44)
Working capital 434 129 42.70 (43)
Other operating items -- -- -- --
Operating cashflow 502 58.90 84.90 41.60
Capital expenditure 1,405 999 375 (375)
Free cash flow 1,907 1,058 460 (334)
Equity raised 2,088 2,157 2,450 2,427
Investments (4) (3.60) -- --
Debt financing/disposal 236 8.22 138 (138)
Dividends paid 16 -- 15.90 15.90
Other items -- -- -- --
Net in cash 4,243 3,219 3,064 1,971
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 112 112 112 106
Preference capital -- -- -- --
Reserves 1,658 1,447 1,371 1,225
Net worth 1,770 1,558 1,483 1,330
Minority interest
Debt 1,057 1,036 980 842
Deferred tax liabilities (net) 144 137 119 101
Total liabilities 2,971 2,732 2,582 2,273
Fixed assets 1,794 1,739 1,644 1,373
Intangible assets
Investments 3.41 3.41 3.41 3.41
Deferred tax asset (net) 218 191 172 171
Net working capital 954 796 759 722
Inventories 905 682 585 509
Inventory Days 117 109 104 97.60
Sundry debtors 791 710 571 568
Debtor days 102 113 101 109
Other current assets 181 141 158 126
Sundry creditors (668) (553) (377) (322)
Creditor days 86.10 88.10 67 61.60
Other current liabilities (255) (184) (177) (160)
Cash 1.74 3.02 3.06 4.09
Total assets 2,971 2,732 2,582 2,273
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Particulars ( Rupees In Crores.) Jun-2020 Mar-2020 Dec-2019 Sep-2019 Jun-2019
Gross Sales 974 839 730 712 551
Excise Duty -- -- -- -- --
Net Sales 974 839 730 712 551
Other Operating Income -- -- -- -- --
Other Income 7.09 1.68 1.92 1.36 4.50
Total Income 981 841 732 714 555
Total Expenditure ** 696 647 581 575 467
PBIDT 285 193 150 139 87.80
Interest 15.10 20.70 20.80 25.60 22.50
PBDT 270 173 129 114 65.20
Depreciation 48.80 46.10 47.60 47.80 45.80
Minority Interest Before NP -- -- -- -- --
Tax 54.80 22.90 15.30 10.80 4.57
Deferred Tax (5.10) (6.30) (7.10) (1.60) (0.30)
Reported Profit After Tax 172 110 73.50 56.60 15.10
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 172 110 73.50 56.60 15.10
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 172 110 73.50 56.60 15.10
EPS (Unit Curr.) 16.10 10.30 6.88 5.31 1.42
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- 15 -- -- --
Equity 107 107 107 107 106
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(%) 29.30 23.10 20.60 19.50 15.90
PBDTM(%) 27.70 20.60 17.70 15.90 11.80
PATM(%) 17.60 13.10 10.10 7.94 2.74