MIC Electronics Financial Statements

MIC Electronics Nine Monthly Results

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Y/e 31 Mar Mar-2020 Mar-2019 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth (62) (97) (31) 6.08
Op profit growth (15) 367 (298) (95)
EBIT growth (13) 149 212 (109)
Net profit growth (13) (86) 448 (69)
Profitability ratios (%)        
OPM (926) (416) (2.70) 0.94
EBIT margin (1,278) (561) (6.90) (1.50)
Net profit margin (1,289) (568) (121) (15)
RoCE (4,657) (103) (8.10) (1.10)
RoNW 5.15 7.56 (265) (5.10)
RoA (1,174) (26) (36) (2.80)
Per share ratios ()        
EPS (1.10) (1.30) -- --
Dividend per share -- -- -- --
Cash EPS (1.40) (1.60) (9) (1.90)
Book value per share (5.80) (4.70) (3.50) 5.15
Valuation ratios        
P/E (0.40) (0.80) -- --
P/CEPS (0.30) (0.60) (0.50) (7.50)
P/B (0.10) (0.20) (1.40) 2.84
EV/EBIDTA (7.70) (7.10) (71) 97.90
Payout (%)        
Dividend payout -- -- -- --
Tax payout -- -- 170 9.05
Liquidity ratios        
Debtor days 2,843 2,006 78 102
Inventory days 9,762 3,789 189 149
Creditor days (1,147) (848) (109) (81)
Leverage ratios        
Interest coverage 118 449 0.45 0.12
Net debt / equity (0.90) (1.10) (1.50) 0.90
Net debt / op. profit (6.70) (5.70) (27) 46.90
Cost breakup ()        
Material costs (32) (54) (87) (75)
Employee costs (132) (76) (3.60) (2.20)
Other costs (862) (386) (12) (22)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Revenue 1.86 4.84 159 231
yoy growth (%) (62) (97) (31) 6.08
Raw materials (0.60) (2.60) (138) (172)
As % of sales 31.90 54.10 86.90 74.70
Employee costs (2.50) (3.70) (5.70) (5)
As % of sales 132 76.20 3.56 2.18
Other costs (16) (19) (19) (51)
As % of sales 862 386 12.30 22.20
Operating profit (17) (20) (4.30) 2.18
OPM (926) (416) (2.70) 0.94
Depreciation (7.50) (7.70) (7.70) (7.80)
Interest expense (0.20) (0.10) (24) (29)
Other income 1 0.66 1.17 2.15
Profit before tax (24) (27) (35) (32)
Taxes -- -- (60) (2.90)
Tax rate -- -- 170 9.05
Minorities and other -- -- -- --
Adj. profit (24) (27) (95) (35)
Exceptional items -- (0.30) (96) --
Net profit (24) (27) (191) (35)
yoy growth (%) (13) (86) 448 (69)
NPM (1,289) (568) (121) (15)
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Profit before tax (24) (27) (35) (32)
Depreciation (7.50) (7.70) (7.70) (7.80)
Tax paid -- -- (60) (2.90)
Working capital (400) (340) (318) (191)
Other operating items -- -- -- --
Operating cashflow (431) (375) (421) (234)
Capital expenditure (24) (21) (29) (33)
Free cash flow (455) (397) (450) (267)
Equity raised 277 246 418 407
Investments 1.19 (0.30) (1.40) (1.40)
Debt financing/disposal 86.30 33.50 22.30 12.30
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash (91) (118) (11) 150
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 102 102 102 81.80
Preference capital -- -- -- --
Reserves (230) (207) (180) 31.60
Net worth (128) (104) (77) 113
Minority interest
Debt 116 117 117 104
Deferred tax liabilities (net) -- -- -- 11.20
Total liabilities (12) 12.70 39.80 228
Fixed assets 76.40 84 91.60 99.20
Intangible assets
Investments 7.75 7.12 6.70 6.67
Deferred tax asset (net) -- -- -- 71.10
Net working capital (97) (80) (60) 49.70
Inventories 49.50 49.90 50.60 114
Inventory Days 9,728 3,763 116 180
Sundry debtors 9.51 19.40 33.80 34
Debtor days 1,868 1,467 77.70 53.80
Other current assets 16 16 15.90 27
Sundry creditors (61) (59) (57) (40)
Creditor days 11,918 4,463 131 63.60
Other current liabilities (112) (106) (103) (85)
Cash 1.35 1.78 1.71 1.58
Total assets (12) 12.70 39.80 228
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Particulars ( Rupees In Crores.) Dec-2020 Dec-2019 Dec-2018 Dec-2017 Dec-2016
Gross Sales 1.08 1.66 3.84 149 179
Excise Duty -- -- -- -- --
Net Sales 1.08 1.66 3.84 149 179
Other Operating Income -- -- -- -- --
Other Income 0.79 0.12 1.81 0.93 1.21
Total Income 1.87 1.78 5.65 150 180
Total Expenditure ** 4.40 3.97 10.80 140 159
PBIDT (2.50) (2.20) (5.20) 9.44 20.50
Interest 0.07 0.03 0.05 1.30 2.70
PBDT (2.60) (2.20) (5.20) 8.14 17.80
Depreciation 5.12 5.65 5.76 5.77 5.57
Minority Interest Before NP -- -- -- -- --
Tax -- -- -- 0.51 2.37
Deferred Tax -- -- -- -- --
Reported Profit After Tax (7.70) (7.90) (11) 1.86 9.84
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (7.70) (7.90) (11) 1.86 9.84
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item (7.70) (7.90) (11) 1.86 9.84
EPS (Unit Curr.) (0.40) (0.40) (0.50) 0.08 0.56
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 44.10 44.10 44.10 44.10 35.40
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(%) (234) (132) (135) 6.35 11.50
PBDTM(%) (241) (134) (136) 5.47 9.95
PATM(%) (715) (474) (286) 1.25 5.51
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