Ludlow Jute & Specialities Financial Statements

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Y/e 31 Mar Mar-2018 Mar-2017 Mar-2016 Mar-2015
Growth matrix (%)        
Revenue growth (7.10) 0.16 53.10 (16)
Op profit growth (47) (3.50) (400) (157)
EBIT growth (45) 9.50 (202) (289)
Net profit growth (73) 19.30 (232) (258)
Profitability ratios (%)        
OPM 2.64 4.60 4.78 (2.40)
EBIT margin 2.15 3.61 3.30 (5)
Net profit margin 0.54 1.88 1.58 (1.80)
RoCE 3.30 8.89 15.90 (19)
RoNW 0.29 1.70 3.72 (2.70)
RoA 0.21 1.16 1.91 (1.80)
Per share ratios ()        
EPS 1.68 6.28 4.97 --
Dividend per share 2 2.50 1.50 0.50
Cash EPS (2.60) 1.09 (0.20) (11)
Book value per share 120 120 37.10 33.60
Valuation ratios        
P/E 49.80 14 12 --
P/CEPS (32) 80.40 (325) (1.90)
P/B 0.70 0.73 1.61 0.60
EV/EBIDTA 12 7.46 5.71 (9.20)
Payout (%)        
Dividend payout 119 39.80 34.30 (15)
Tax payout (39) (33) (35) (14)
Liquidity ratios        
Debtor days 28.40 26.10 21.50 24.50
Inventory days 66.70 61.60 62.50 77.90
Creditor days (20) (22) (33) (46)
Leverage ratios        
Interest coverage (1.70) (4.60) (3.80) 2.73
Net debt / equity 0.37 0.26 0.92 0.54
Net debt / op. profit 6.70 2.53 2.15 (3.40)
Cost breakup ()        
Material costs (55) (56) (59) (55)
Employee costs (25) (23) (21) (27)
Other costs (17) (17) (15) (21)
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Y/e 31 Mar( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Revenue 334 359 359 234
yoy growth (%) (7.10) 0.16 53.10 (16)
Raw materials (184) (202) (211) (128)
As % of sales 55.20 56.20 58.90 54.70
Employee costs (83) (81) (77) (64)
As % of sales 24.90 22.60 21.50 27.30
Other costs (58) (60) (53) (48)
As % of sales 17.30 16.60 14.90 20.50
Operating profit 8.81 16.50 17.20 (5.70)
OPM 2.64 4.60 4.78 (2.40)
Depreciation (5.20) (5.30) (5.90) (7.10)
Interest expense (4.20) (2.80) (3.10) (4.30)
Other income 3.62 1.75 0.56 1.24
Profit before tax 3 10.10 8.71 (16)
Taxes (1.20) (3.30) (3) 2.28
Tax rate (39) (33) (35) (14)
Minorities and other -- -- -- --
Adj. profit 1.81 6.77 5.68 (14)
Exceptional items -- -- -- 9.31
Net profit 1.81 6.77 5.68 (4.30)
yoy growth (%) (73) 19.30 (232) (258)
NPM 0.54 1.88 1.58 (1.80)
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Y/e 31 Mar ( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Profit before tax 3 10.10 8.71 (16)
Depreciation (5.20) (5.30) (5.90) (7.10)
Tax paid (1.20) (3.30) (3) 2.28
Working capital 62.90 56.10 38.80 14.20
Other operating items -- -- -- --
Operating cashflow 59.50 57.60 38.60 (6.60)
Capital expenditure 150 135 7.61 0.49
Free cash flow 210 192 46.20 (6.10)
Equity raised 174 171 57.30 62.40
Investments (2.20) 0.05 -- --
Debt financing/disposal 52.80 43.80 32.30 14.80
Dividends paid 2.15 2.69 1.62 0.54
Other items -- -- -- --
Net in cash 437 410 137 71.60
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Y/e 31 Mar ( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Equity capital 10.80 10.80 10.80 10.80
Preference capital -- -- -- --
Reserves 148 148 29.20 25.50
Net worth 159 159 40 36.30
Minority interest
Debt 63.40 45.30 40.30 23.80
Deferred tax liabilities (net) 4.06 2.94 2.66 3.64
Total liabilities 227 208 83.90 64.70
Fixed assets 149 143 27 31.10
Intangible assets
Investments 0.09 0.08 0.02 0.02
Deferred tax asset (net) 2.05 1.80 2.04 3.06
Net working capital 71.40 59.30 51.40 26.30
Inventories 62.80 59.30 62.10 60.80
Inventory Days 68.60 60.20 63.10 94.70
Sundry debtors 25.70 26.20 25.20 17.20
Debtor days 28.20 26.60 25.60 26.70
Other current assets 15.10 9.60 7.36 3.64
Sundry creditors (16) (19) (22) (40)
Creditor days 17.40 19.20 22.50 62.90
Other current liabilities (16) (17) (21) (15)
Cash 4.37 3.45 3.46 4.15
Total assets 227 208 83.90 64.70
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Particulars ( Rupees In Crores.) Mar-2018 Mar-2017 Mar-2016 Mar-2015 Mar-2014
Gross Sales 334 359 352 230 273
Excise Duty -- -- -- -- --
Net Sales 334 359 352 230 273
Other Operating Income -- -- 3.81 1.87 2.58
Other Income 3.62 1.75 0.56 10.60 0.73
Total Income 337 361 356 243 276
Total Expenditure ** 325 343 338 238 266
PBIDT 12.40 18.30 17.70 4.84 10.80
Interest 4.18 2.85 3.14 4.26 1.90
PBDT 8.25 15.40 14.60 0.58 8.88
Depreciation 5.24 5.33 5.87 7.14 4.64
Minority Interest Before NP -- -- -- -- --
Tax 1.17 3.22 3.01 (2.30) 1.50
Deferred Tax 0.01 0.12 -- -- --
Reported Profit After Tax 1.83 6.77 5.70 (4.30) 2.74
Minority Interest After NP -- -- 0.02 0.03 0.02
Net Profit after Minority Interest 1.83 6.77 5.68 (4.30) 2.72
Extra-ordinary Items -- -- -- 0.09 --
Adjusted Profit After Extra-ordinary item 1.83 6.77 5.68 (4.40) 2.72
EPS (Unit Curr.) 1.69 6.27 5.27 (4) 2.53
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 20 25 15 5 15
Equity 10.80 10.80 10.80 10.80 10.80
Public Shareholding (Number) -- -- -- 3,533,912 3,533,912
Public Shareholding (%) -- -- -- 32.80 32.80
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- 7,239,208 7,239,208
Non Encumbered - % in Total Promoters Holding -- -- -- 100 100
Non Encumbered - % in Total Equity -- -- -- 67.20 67.20
PBIDTM(%) 3.72 5.09 5.04 2.10 3.95
PBDTM(%) 2.47 4.30 4.15 0.25 3.25
PATM(%) 0.55 1.88 1.62 (1.90) 1