Mahindra CIE Automotive Financial Statements

Mahindra CIE Automotive Nine Monthly Results

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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.) Sep-2020 Sep-2019 Sep-2018 - -
Gross Sales 4,092 6,185 6,057 -- --
Excise Duty -- -- -- -- --
Net Sales 4,092 6,185 6,057 -- --
Other Operating Income -- -- -- -- --
Other Income 64.80 31.90 20.50 -- --
Total Income 4,157 6,217 6,077 -- --
Total Expenditure ** 3,856 5,433 5,309 -- --
PBIDT 302 784 768 -- --
Interest 49.20 41.70 31.10 -- --
PBDT 252 742 737 -- --
Depreciation 218 237 213 -- --
Minority Interest Before NP -- -- -- -- --
Tax 52.80 158 159 -- --
Deferred Tax (13) 7.06 5.53 -- --
Reported Profit After Tax (5.20) 340 359 -- --
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (5.20) 340 359 -- --
Extra-ordinary Items -- 3.44 -- -- --
Adjusted Profit After Extra-ordinary item (5.20) 336 359 -- --
EPS (Unit Curr.) (0.10) 8.98 9.49 -- --
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 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(%) 7.37 12.70 12.70 -- --
PBDTM(%) 6.17 12 12.20 -- --
PATM(%) (0.10) 5.50 5.93 -- --
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