Mangalam Seeds Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 32.70 0.60 24.90 59.90
Op profit growth 16.10 10.90 45.70 64.60
EBIT growth 19.90 10.80 47.50 65.90
Net profit growth 12.80 7.35 43.40 88.30
Profitability ratios (%)        
OPM 13.70 15.60 14.20 12.10
EBIT margin 12.70 14.10 12.80 10.80
Net profit margin 9.30 10.90 10.30 8.94
RoCE 13.50 14.20 16.90 20.40
RoNW 3.09 3.30 4.29 6.25
RoA 2.47 2.76 3.38 4.21
Per share ratios ()        
EPS 3.41 3.03 5.44 4.82
Dividend per share -- -- 1 1
Cash EPS 3.05 2.57 4.77 4.22
Book value per share 30.80 24.40 42.80 29.40
Valuation ratios        
P/E 16.10 34.70 14 7.44
P/CEPS 18 40.90 16 8.50
P/B 1.78 4.30 1.78 1.22
EV/EBIDTA 12.60 25.20 19.90 11.60
Payout (%)        
Dividend payout -- -- 21.30 24.10
Tax payout (9.90) (8.90) (7.80) (4.80)
Liquidity ratios        
Debtor days 90.70 132 101 49.80
Inventory days 90.90 102 83.90 72
Creditor days (6.30) (16) (11) (5.80)
Leverage ratios        
Interest coverage (5.30) (6.80) (7.70) (7.50)
Net debt / equity 0.27 0.19 0.11 0.27
Net debt / op. profit 1.68 1.09 0.58 1.15
Cost breakup ()        
Material costs (33) (67) (72) (74)
Employee costs (5.70) (4.70) (3.30) (3.50)
Other costs (47) (12) (11) (10)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 40.30 30.40 30.20 24.20
yoy growth (%) 32.70 0.60 24.90 59.90
Raw materials (13) (20) (22) (18)
As % of sales 33.50 67.30 71.90 74.10
Employee costs (2.30) (1.40) (1) (0.80)
As % of sales 5.70 4.72 3.33 3.49
Other costs (19) (3.80) (3.20) (2.50)
As % of sales 47.20 12.40 10.60 10.30
Operating profit 5.51 4.74 4.27 2.93
OPM 13.70 15.60 14.20 12.10
Depreciation (0.40) (0.50) (0.50) (0.30)
Interest expense (1) (0.60) (0.50) (0.30)
Other income 0.02 0.04 0.06 0.03
Profit before tax 4.16 3.65 3.36 2.27
Taxes (0.40) (0.30) (0.30) (0.10)
Tax rate (9.90) (8.90) (7.80) (4.80)
Minorities and other -- -- -- --
Adj. profit 3.75 3.32 3.10 2.16
Exceptional items -- -- -- --
Net profit 3.75 3.32 3.10 2.16
yoy growth (%) 12.80 7.35 43.40 88.30
NPM 9.30 10.90 10.30 8.94
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 4.16 3.65 3.36 2.27
Depreciation (0.40) (0.50) (0.50) (0.30)
Tax paid (0.40) (0.30) (0.30) (0.10)
Working capital 13.50 6.72 -- (6.70)
Other operating items -- -- -- --
Operating cashflow 16.80 9.54 2.62 (4.90)
Capital expenditure 22.60 8.88 -- (8.90)
Free cash flow 39.50 18.40 2.62 (14)
Equity raised 32.90 27.50 33.50 15.80
Investments 0.01 0.04 -- --
Debt financing/disposal 6.10 0.35 0.04 (0.30)
Dividends paid -- -- 0.55 0.43
Other items -- -- -- --
Net in cash 78.40 46.30 36.70 2.12
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 11 11 11 5.49
Preference capital -- -- -- --
Reserves 22.90 19.30 15.80 18
Net worth 33.90 30.20 26.80 23.50
Minority interest
Debt 9.37 5.81 5.45 4.52
Deferred tax liabilities (net) 0.27 0.03 -- --
Total liabilities 43.50 36.10 32.30 28
Fixed assets 24.90 14.80 11 3.01
Intangible assets
Investments 0.01 0.06 0.04 0.04
Deferred tax asset (net) 0.15 0.11 0.07 0.07
Net working capital 18.30 20.40 20.90 22.80
Inventories 10.40 11.20 9.67 7.36
Inventory Days 94.10 -- 116 89
Sundry debtors 10 7.90 10 12
Debtor days 90.70 -- 120 145
Other current assets 2.75 3.57 3.80 5.49
Sundry creditors -- -- (1.20) (1)
Creditor days -- -- 14.40 12.50
Other current liabilities (4.80) (2.30) (1.40) (1)
Cash 0.14 0.66 0.29 2.05
Total assets 43.50 36.10 32.30 28
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 40.30 32.20 30.40 30.20 24.20
Excise Duty -- -- -- -- --
Net Sales 40.30 32.20 30.40 30.20 24.20
Other Operating Income -- -- -- -- --
Other Income 0.02 0.02 0.04 0.06 0.03
Total Income 40.30 32.20 30.40 30.20 24.20
Total Expenditure ** 34.80 27.50 25.60 25.90 21.20
PBIDT 5.53 4.73 4.78 4.34 2.96
Interest 0.97 0.66 0.63 0.50 0.35
PBDT 4.56 4.07 4.15 3.83 2.61
Depreciation 0.40 0.44 0.50 0.48 0.35
Minority Interest Before NP -- -- -- -- --
Tax 0.19 0.31 0.32 0.26 0.11
Deferred Tax 0.22 -- 0.01 -- --
Reported Profit After Tax 3.75 3.35 3.32 3.10 2.16
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 3.75 3.35 3.32 3.10 2.16
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 3.75 3.35 3.32 3.10 2.16
EPS (Unit Curr.) 3.41 3.05 3.03 5.93 5.58
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- 10 10 10 10
Equity 11 11 11 5.49 4.30
Public Shareholding (Number) -- -- 3,489,000 1,762,500 1,140,000
Public Shareholding (%) -- -- 31.80 32.10 26.50
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- 7,491,158 3,727,579 3,162,079
Non Encumbered - % in Total Promoters Holding -- -- 100 100 100
Non Encumbered - % in Total Equity -- -- 68.20 67.90 73.50
PBIDTM(%) 13.70 14.70 15.70 14.40 12.20
PBDTM(%) 11.30 12.60 13.70 12.70 10.80
PATM(%) 9.31 10.40 10.90 10.30 8.94