MEP Financial Statements

MEP Half Yearly Results

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Y/e 31 Mar Mar-2021 Mar-2020 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth (45) (11) 34.30 (9.20)
Op profit growth 29.90 (59) (32) (16)
EBIT growth 260 (82) 14.10 (14)
Net profit growth (0.80) (209) (35) (398)
Profitability ratios (%)        
OPM 41.40 17.40 37.60 74.50
EBIT margin 33.60 5.10 24.90 29.30
Net profit margin (6.80) (3.80) 3.06 6.30
RoCE 14.90 3.46 18 16.10
RoNW (13) (16) 68.30 (45)
RoA (0.80) (0.60) 0.55 0.86
Per share ratios ()        
EPS (4.20) (4.70) 4.37 6.70
Dividend per share -- -- 0.30 0.25
Cash EPS (18) (26) (21) (47)
Book value per share 5.70 9.88 3.68 (0.50)
Valuation ratios        
P/E (3.80) (2.60) 17.50 7.87
P/CEPS (0.90) (0.50) (3.60) (1.10)
P/B 2.79 1.23 20.80 (108)
EV/EBIDTA 4.04 5.15 4.17 2.67
Payout (%)        
Dividend payout -- -- 6.87 3.73
Tax payout (74) 13.90 (35) (444)
Liquidity ratios        
Debtor days 17.50 11.20 9.58 3.75
Inventory days 4.67 1.27 -- --
Creditor days (651) (207) (192) (994)
Leverage ratios        
Interest coverage (1.10) (0.30) (1.20) (1)
Net debt / equity 21.60 12.90 48.80 (356)
Net debt / op. profit 4.85 6.54 3.35 2.18
Cost breakup ()        
Material costs (7) (9.70) -- --
Employee costs (7) (5.10) (3.70) (4.20)
Other costs (45) (68) (59) (21)
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Y/e 31 Mar( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Revenue 1,123 2,056 2,322 1,729
yoy growth (%) (45) (11) 34.30 (9.20)
Raw materials (79) (200) -- --
As % of sales 7 9.75 -- --
Employee costs (79) (105) (85) (73)
As % of sales 7.03 5.10 3.67 4.24
Other costs (501) (1,394) (1,364) (367)
As % of sales 44.60 67.80 58.70 21.20
Operating profit 465 358 873 1,289
OPM 41.40 17.40 37.60 74.50
Depreciation (253) (392) (419) (868)
Interest expense (343) (414) (470) (493)
Other income 166 140 125 86.60
Profit before tax 34.90 (309) 109 14.20
Taxes (26) (43) (38) (63)
Tax rate (74) 13.90 (35) (444)
Minorities and other 0.15 8.91 -- --
Adj. profit 9.32 (343) 71 (49)
Exceptional items (69) 226 -- 158
Net profit (77) (77) 71 109
yoy growth (%) (0.80) (209) (35) (398)
NPM (6.80) (3.80) 3.06 6.30
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Profit before tax 34.90 (309) 109 14.20
Depreciation (253) (392) (419) (868)
Tax paid (26) (43) (38) (63)
Working capital (241) 73.10 (239) 782
Other operating items -- -- -- --
Operating cashflow (485) (672) (587) (135)
Capital expenditure 1,861 1,261 2,818 (424)
Free cash flow 1,377 590 2,232 (559)
Equity raised (4.30) (29) (456) (550)
Investments 314 331 207 145
Debt financing/disposal (492) (676) (302) 242
Dividends paid -- -- 4.88 4.06
Other items -- -- -- --
Net in cash 1,195 216 1,687 (719)
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Y/e 31 Mar ( In .Cr) Mar-2022 Mar-2021 Mar-2020 Mar-2019
Equity capital 183 183 183 183
Preference capital -- -- -- --
Reserves (298) (79) (2.10) 82.10
Net worth (114) 105 181 266
Minority interest
Debt 2,097 2,303 2,431 2,768
Deferred tax liabilities (net) 57.30 11.80 -- 335
Total liabilities 2,048 2,432 2,626 3,369
Fixed assets 1,124 1,265 1,478 2,108
Intangible assets
Investments 85.30 317 332 280
Deferred tax asset (net) 49.90 56.30 67.80 448
Net working capital 743 745 657 420
Inventories 4.90 14.40 14.30 11.20
Inventory Days -- 4.69 2.54 --
Sundry debtors 2.46 67.90 40 82.50
Debtor days -- 22.10 7.10 --
Other current assets 2,444 2,996 2,876 2,500
Sundry creditors (1,241) (1,119) (1,230) (1,017)
Creditor days -- 364 218 --
Other current liabilities (467) (1,215) (1,044) (1,157)
Cash 44.90 48.50 91.40 113
Total assets 2,048 2,432 2,626 3,369
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Particulars ( Rupees In Crores.) Sep-2022 Mar-2022 Sep-2021 Mar-2021 Sep-2020
Gross Sales 231 473 494 565 558
Excise Duty -- -- -- -- --
Net Sales 231 473 494 565 558
Other Operating Income -- -- -- -- --
Other Income 30 52.30 25.50 131 35.50
Total Income 261 526 519 695 594
Total Expenditure ** 265 402 271 422 322
PBIDT (3.70) 124 249 273 272
Interest 45.50 142 146 171 172
PBDT (49) (19) 102 102 100
Depreciation 59.50 132 124 98.10 155
Minority Interest Before NP -- -- -- -- --
Tax 0.50 3.27 3.20 2.28 --
Deferred Tax 0.13 21.50 25.10 10.70 12.80
Reported Profit After Tax (109) (175) (50) (9.30) (67)
Minority Interest After NP (0.60) (1.20) (3.70) 1.67 (1.80)
Net Profit after Minority Interest (109) (174) (47) (2.50) (74)
Extra-ordinary Items 23.10 44 0.28 (69) --
Adjusted Profit After Extra-ordinary item (132) (218) (47) 66.80 (74)
EPS (Unit Curr.) (6) -- (2.70) -- (4.20)
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 183 183 183 183 183
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(%) (1.60) 26.10 50.40 48.30 48.70
PBDTM(%) -- -- -- -- --
PATM(%) (47) (37) (10) (1.60) (12)
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