Mahindra CIE Automotive Financial Statements

Mahindra CIE Automotive Profit & Loss Statement

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Y/e 31 Mar Dec-2020 Dec-2019 Dec-2018 Dec-2017
Growth matrix (%)        
Revenue growth (23) (1.50) 24.90 20.80
Op profit growth (48) (7.90) 29.10 53.30
EBIT growth (63) (15) 40.20 73.60
Net profit growth (70) (29) 39 112
Profitability ratios (%)        
OPM 8.29 12.20 13.10 12.70
EBIT margin 4.13 8.66 10 8.91
Net profit margin 1.76 4.47 6.20 5.58
RoCE 3.80 11.10 14.60 11.70
RoNW 0.56 1.98 3.11 2.57
RoA 0.40 1.43 2.26 1.84
Per share ratios ()        
EPS 2.81 9.34 13.20 9.47
Dividend per share -- -- -- --
Cash EPS (5.30) 0.99 5.58 2.38
Book value per share 129 122 113 98.20
Valuation ratios        
P/E 61.10 17.60 19.40 27.20
P/CEPS (33) 166 45.80 108
P/B 1.33 1.35 2.26 2.62
EV/EBIDTA 14.20 7.56 10.30 12.90
Payout (%)        
Dividend payout -- -- -- --
Tax payout (45) (43) (27) (28)
Liquidity ratios        
Debtor days 43.50 34.10 30.40 31.80
Inventory days 62.20 52.70 50.40 51.80
Creditor days (97) (85) (88) (104)
Leverage ratios        
Interest coverage (4.60) (13) (16) (11)
Net debt / equity 0.29 0.28 0.35 0.30
Net debt / op. profit 2.81 1.36 1.43 1.38
Cost breakup ()        
Material costs (46) (47) (45) (44)
Employee costs (21) (17) (17) (18)
Other costs (24) (24) (25) (26)
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Y/e 31 Mar( In .Cr) Dec-2020 Dec-2019 Dec-2018 Dec-2017
Revenue 6,050 7,908 8,032 6,428
yoy growth (%) (23) (1.50) 24.90 20.80
Raw materials (2,806) (3,749) (3,632) (2,816)
As % of sales 46.40 47.40 45.20 43.80
Employee costs (1,262) (1,308) (1,330) (1,153)
As % of sales 20.90 16.50 16.60 17.90
Other costs (1,480) (1,883) (2,019) (1,645)
As % of sales 24.50 23.80 25.10 25.60
Operating profit 502 968 1,051 814
OPM 8.29 12.20 13.10 12.70
Depreciation (306) (316) (287) (268)
Interest expense (55) (52) (50) (51)
Other income 54.90 33.10 38.70 26.80
Profit before tax 195 633 753 522
Taxes (89) (274) (204) (148)
Tax rate (45) (43) (27) (28)
Minorities and other (0.20) -- (50) (8.30)
Adj. profit 106 358 498 365
Exceptional items -- (4.60) -- (6.80)
Net profit 106 354 498 358
yoy growth (%) (70) (29) 39 112
NPM 1.76 4.47 6.20 5.58
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Y/e 31 Mar ( In .Cr) Dec-2020 Dec-2019 Dec-2018 Dec-2017
Profit before tax 195 633 753 522
Depreciation (306) (316) (287) (268)
Tax paid (89) (274) (204) (148)
Working capital (75) (156) (47) (176)
Other operating items -- -- -- --
Operating cashflow (275) (114) 215 (71)
Capital expenditure 6,510 5,070 2,966 (711)
Free cash flow 6,234 4,956 3,181 (782)
Equity raised 5,489 4,850 4,262 4,598
Investments 232 54.20 623 (1.90)
Debt financing/disposal 1,234 982 1,375 1,417
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 13,189 10,842 9,442 5,231
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Y/e 31 Mar ( In .Cr) Dec-2020 Dec-2019 Dec-2018 Dec-2017
Equity capital 379 379 379 378
Preference capital -- -- -- --
Reserves 4,529 4,255 3,910 3,337
Net worth 4,908 4,634 4,289 3,716
Minority interest
Debt 1,648 1,469 1,613 1,197
Deferred tax liabilities (net) 277 230 98.80 92.40
Total liabilities 6,833 6,333 6,001 5,005
Fixed assets 6,754 6,098 5,001 4,811
Intangible assets
Investments 234 95.50 681 55.10
Deferred tax asset (net) 154 138 255 255
Net working capital (547) (149) (49) (188)
Inventories 1,006 1,057 1,229 990
Inventory Days 60.70 48.80 55.80 56.20
Sundry debtors 705 737 741 598
Debtor days 42.60 34 33.70 34
Other current assets 426 426 563 810
Sundry creditors (1,435) (1,513) (1,724) (1,636)
Creditor days 86.60 69.80 78.40 92.90
Other current liabilities (1,250) (856) (857) (950)
Cash 238 150 113 71.90
Total assets 6,833 6,333 6,001 5,005
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Particulars ( Rupees In Crores.) Jun-2021 Mar-2021 Dec-2020 Sep-2020 Jun-2020
Gross Sales 2,042 2,189 1,958 1,694 735
Excise Duty -- -- -- -- --
Net Sales 2,042 2,189 1,958 1,694 735
Other Operating Income -- -- -- -- --
Other Income 11.60 19.40 7.45 24.60 18
Total Income 2,054 2,209 1,965 1,719 753
Total Expenditure ** 1,783 1,903 1,710 1,526 832
PBIDT 271 306 255 193 (79)
Interest 13.10 14.20 5.67 14.20 16.70
PBDT 258 292 249 179 (95)
Depreciation 88.60 88.30 88.20 84.90 51.80
Minority Interest Before NP -- -- -- -- --
Tax 40.30 63.30 (7.10) 31.50 1.85
Deferred Tax (6.80) 130 56.40 1.44 (20)
Reported Profit After Tax 136 10.10 112 60.80 (129)
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 136 10.10 112 60.80 (129)
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 136 10.10 112 60.80 (129)
EPS (Unit Curr.) 3.59 0.27 2.94 1.59 (3.40)
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 379 379 379 379 379
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(%) 13.30 14 13 11.40 (11)
PBDTM(%) 12.60 13.30 12.70 10.50 (13)
PATM(%) 6.67 0.46 5.70 3.59 (18)
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