Meghmani Organics Financial Statements

Meghmani Organics Quarterly 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.) Dec-2020 Sep-2020 Jun-2020 Mar-2020 Dec-2019
Gross Sales 658 626 428 520 522
Excise Duty -- -- -- -- --
Net Sales 658 626 428 520 522
Other Operating Income -- -- -- -- --
Other Income 10.80 1.56 3.06 26.50 7.98
Total Income 669 627 431 547 530
Total Expenditure ** 499 453 332 436 418
PBIDT 170 174 99.50 111 113
Interest 23.40 11.60 10.30 15.70 13.50
PBDT 147 162 89.20 94.90 99.20
Depreciation 33.90 32.40 23.20 22.30 22.40
Minority Interest Before NP -- -- -- -- --
Tax 27.50 29.80 15.40 18.20 19
Deferred Tax 5.79 7.58 3.74 (2.70) 1.10
Reported Profit After Tax 79.30 92.70 46.80 57 56.70
Minority Interest After NP 9.96 11.50 7.67 5.69 9.09
Net Profit after Minority Interest 69.30 81.20 39.10 51.30 47.60
Extra-ordinary Items 4.58 -- -- -- --
Adjusted Profit After Extra-ordinary item 64.80 81.20 39.10 51.30 47.60
EPS (Unit Curr.) 2.73 3.19 1.54 2.02 1.87
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- 100 --
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(%) 25.80 27.80 23.20 21.20 21.60
PBDTM(%) 22.30 26 20.80 18.20 19
PATM(%) 12.10 14.80 10.90 11 10.90
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