Maithan Alloys Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth (2.70) 40.40 16.50 4
Op profit growth (38) 39.30 113 16.30
EBIT growth (26) 49.80 135 23.80
Net profit growth (24) 62.40 128 49.90
Profitability ratios (%)        
OPM 12.70 20 20.20 11.10
EBIT margin 15.50 20.20 18.90 9.38
Net profit margin 12.10 15.50 13.40 6.85
RoCE 24.90 46.60 40.40 19.20
RoNW 5.14 10 9.18 5.51
RoA 4.88 8.94 7.16 3.50
Per share ratios ()        
EPS 76.30 100 61.70 26.70
Dividend per share 6 3 2.50 2
Cash EPS 70.80 94.90 53 19.10
Book value per share 444 298 201 135
Valuation ratios        
P/E 4.59 7.82 6.82 4.37
P/CEPS 4.94 8.26 7.94 6.10
P/B 0.79 2.63 2.09 0.86
EV/EBIDTA 1.31 5.74 4.36 3.23
Payout (%)        
Dividend payout -- 2.99 4.05 8.89
Tax payout (20) (22) (26) (18)
Liquidity ratios        
Debtor days 52.30 45.50 57.70 63.90
Inventory days 52.30 42.20 46 51.70
Creditor days (25) (26) (35) (46)
Leverage ratios        
Interest coverage (76) (94) (26) (8.80)
Net debt / equity (0.50) -- -- 0.22
Net debt / op. profit (2.70) -- -- 0.67
Cost breakup ()        
Material costs (58) (52) (47) (52)
Employee costs (2.30) (2.40) (2.50) (2)
Other costs (27) (26) (31) (35)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 1,831 1,882 1,341 1,151
yoy growth (%) (2.70) 40.40 16.50 4
Raw materials (1,067) (970) (628) (597)
As % of sales 58.30 51.50 46.80 51.80
Employee costs (42) (45) (33) (23)
As % of sales 2.32 2.41 2.49 2
Other costs (489) (490) (409) (404)
As % of sales 26.70 26.10 30.50 35.10
Operating profit 233 377 270 127
OPM 12.70 20 20.20 11.10
Depreciation (16) (15) (25) (23)
Interest expense (3.70) (4.10) (9.80) (12)
Other income 66.20 18.70 8.50 4.06
Profit before tax 279 376 244 95.70
Taxes (57) (84) (64) (17)
Tax rate (20) (22) (26) (18)
Minorities and other 0.01 0.01 0.09 0.06
Adj. profit 222 292 180 78.80
Exceptional items -- -- -- --
Net profit 222 292 180 78.80
yoy growth (%) (24) 62.40 128 49.90
NPM 12.10 15.50 13.40 6.85
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 279 376 244 95.70
Depreciation (16) (15) (25) (23)
Tax paid (57) (84) (64) (17)
Working capital 970 176 208 39
Other operating items -- -- -- --
Operating cashflow 1,177 452 362 94.50
Capital expenditure 110 (9.80) (111) 23.60
Free cash flow 1,287 442 251 118
Equity raised 1,235 786 652 568
Investments (6.20) 328 31.70 (2.70)
Debt financing/disposal (68) (161) (130) (118)
Dividends paid -- 8.73 7.28 5.82
Other items -- -- -- --
Net in cash 2,448 1,403 812 571
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 29.10 29.10 29.10 29.10
Preference capital -- -- -- --
Reserves 1,263 1,083 839 556
Net worth 1,292 1,113 868 585
Minority interest
Debt 10.40 7.09 44.70 80.80
Deferred tax liabilities (net) 31 28.90 25.50 26.50
Total liabilities 1,334 1,149 939 693
Fixed assets 218 229 238 242
Intangible assets
Investments 5.82 628 343 69.70
Deferred tax asset (net) 1.49 0.90 0.71 0.65
Net working capital 470 246 300 290
Inventories 277 261 248 187
Inventory Days 55.20 -- 48.10 50.80
Sundry debtors 281 257 244 225
Debtor days 55.90 -- 47.30 61.30
Other current assets 95.90 98.70 85.60 87.80
Sundry creditors (75) (246) (147) (69)
Creditor days 15 -- 28.60 18.80
Other current liabilities (108) (124) (130) (140)
Cash 639 45.40 57.40 90.70
Total assets 1,334 1,149 939 693
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 1,831 1,988 1,891 1,404 1,140
Excise Duty -- -- 12 61.70 --
Net Sales 1,831 1,988 1,879 1,342 1,140
Other Operating Income -- -- -- -- 11.10
Other Income 66.20 26.20 14.90 8.86 4.06
Total Income 1,897 2,014 1,894 1,351 1,155
Total Expenditure ** 1,598 1,666 1,498 1,069 1,024
PBIDT 299 348 395 282 131
Interest 3.71 5.91 4.05 9.79 12.20
PBDT 295 343 391 273 119
Depreciation 15.80 15.60 15.40 25.30 23.30
Minority Interest Before NP -- -- -- -- --
Tax 55.40 68.30 85.30 57 16.90
Deferred Tax 1.81 3.39 (1.10) 7.22 --
Reported Profit After Tax 222 255 292 183 78.80
Minority Interest After NP -- -- -- -- (0.10)
Net Profit after Minority Interest 222 255 292 183 78.90
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 222 255 292 183 78.90
EPS (Unit Curr.) 76.30 87.70 100 62.90 27.10
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 60 -- 30 25 20
Equity 29.10 29.10 29.10 29.10 29.10
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(%) 16.30 17.50 21 21 11.50
PBDTM(%) 16.10 17.20 20.80 20.30 10.40
PATM(%) 12.10 12.80 15.50 13.60 6.91