Meghmani Organics Financial Statements

Meghmani Organics Annually Results

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 21.50 27 6.82 2.68
Op profit growth 0.68 49.30 10.70 28.40
EBIT growth 9.52 74.20 0.45 55.40
Net profit growth 40.20 95.30 6.30 88
Profitability ratios (%)        
OPM 19.80 23.90 20.30 19.60
EBIT margin 18.30 20.30 14.80 15.80
Net profit margin 11 9.50 6.18 6.21
RoCE 21.10 25.30 15.70 15.80
RoNW 5.77 5.39 2.97 3.15
RoA 3.16 2.96 1.64 1.55
Per share ratios ()        
EPS 11.40 9.36 4.57 4.38
Dividend per share 1 0.40 0.40 0.30
Cash EPS 5.96 3.01 (0.10) 0.23
Book value per share 47.50 34.20 28.30 29.80
Valuation ratios        
P/E 3.27 9.03 8.16 5.21
P/CEPS 6.23 28.10 (314) 101
P/B 0.78 2.47 1.32 0.77
EV/EBIDTA 3.52 5.47 4.65 4.01
Payout (%)        
Dividend payout -- 5.94 11.60 11.10
Tax payout (20) (27) (25) (24)
Liquidity ratios        
Debtor days 75.40 71.40 84.60 88.40
Inventory days 51.60 51.60 71.30 72.60
Creditor days (59) (51) (60) (59)
Leverage ratios        
Interest coverage (9.40) (9.20) (4.10) (3.30)
Net debt / equity 0.65 0.43 0.63 0.75
Net debt / op. profit 1.80 0.87 1.56 2.17
Cost breakup ()        
Material costs (57) (50) (56) (53)
Employee costs (5.90) (5.50) (4.60) (4.40)
Other costs (18) (20) (19) (23)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 2,191 1,803 1,420 1,329
yoy growth (%) 21.50 27 6.82 2.68
Raw materials (1,239) (910) (794) (707)
As % of sales 56.50 50.50 55.90 53.20
Employee costs (129) (100) (65) (58)
As % of sales 5.87 5.53 4.56 4.36
Other costs (390) (362) (272) (303)
As % of sales 17.80 20.10 19.20 22.80
Operating profit 434 431 289 261
OPM 19.80 23.90 20.30 19.60
Depreciation (89) (95) (91) (77)
Interest expense (43) (40) (51) (63)
Other income 56.10 30.30 12.40 25.50
Profit before tax 359 327 160 146
Taxes (70) (88) (40) (35)
Tax rate (20) (27) (25) (24)
Minorities and other (49) (67) (29) (29)
Adj. profit 240 172 91.50 82.50
Exceptional items -- (1.10) (3.80) --
Net profit 240 171 87.70 82.50
yoy growth (%) 40.20 95.30 6.30 88
NPM 11 9.50 6.18 6.21
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 359 327 160 146
Depreciation (89) (95) (91) (77)
Tax paid (70) (88) (40) (35)
Working capital (30) (54) 26.10 (44)
Other operating items -- -- -- --
Operating cashflow 171 89.90 55.40 (9.70)
Capital expenditure 475 93 (60) (337)
Free cash flow 646 183 (4.80) (346)
Equity raised 1,412 1,134 1,092 1,150
Investments (35) 52.40 4.51 0.03
Debt financing/disposal 454 (131) (67) (92)
Dividends paid -- 10.20 10.20 7.63
Other items -- -- -- --
Net in cash 2,478 1,248 1,035 719
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 25.40 25.40 25.40 25.40
Preference capital -- -- -- --
Reserves 1,184 978 845 693
Net worth 1,209 1,004 871 718
Minority interest
Debt 790 716 386 461
Deferred tax liabilities (net) 81.90 78.80 50.60 33.70
Total liabilities 2,270 1,948 1,528 1,368
Fixed assets 1,718 1,254 898 797
Intangible assets
Investments 0.57 0.57 72 29.10
Deferred tax asset (net) 47.40 28.70 7.52 5.22
Net working capital 495 530 541 526
Inventories 352 411 268 242
Inventory Days 58.60 -- 54.20 62.10
Sundry debtors 531 431 375 331
Debtor days 88.40 -- 75.80 85.10
Other current assets 127 145 188 171
Sundry creditors (359) (322) (207) (175)
Creditor days 59.90 -- 42 45.10
Other current liabilities (155) (136) (83) (42)
Cash 9.22 135 9.92 10.20
Total assets 2,270 1,948 1,528 1,368
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 2,191 2,088 1,843 1,543 1,453
Excise Duty -- -- 39.90 123 121
Net Sales 2,191 2,088 1,803 1,420 1,332
Other Operating Income -- -- -- -- --
Other Income 56.10 33.20 30.30 12.40 25.50
Total Income 2,247 2,121 1,834 1,432 1,358
Total Expenditure ** 1,757 1,559 1,373 1,135 1,071
PBIDT 490 562 460 297 286
Interest 42.60 56 39.90 50.90 63.10
PBDT 448 506 420 246 223
Depreciation 88.60 97.30 94.80 90.70 76.80
Minority Interest Before NP -- -- -- -- --
Tax 80.70 106 73.40 40.30 32.70
Deferred Tax (11) 7.26 14.40 (0.70) 2.43
Reported Profit After Tax 289 295 238 116 111
Minority Interest After NP 48.90 44.10 66.60 28.50 --
Net Profit after Minority Interest 240 251 171 87.70 111
Extra-ordinary Items -- (11) (0.80) (2.80) --
Adjusted Profit After Extra-ordinary item 240 263 172 90.50 111
EPS (Unit Curr.) 9.44 9.88 6.74 3.45 3.24
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 100 100 40 40 30
Equity 25.40 25.40 25.40 25.40 25.40
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(%) 22.40 26.90 25.50 20.90 21.50
PBDTM(%) 20.40 24.20 23.30 17.40 16.80
PATM(%) 13.20 14.10 13.20 8.19 8.35
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