MIC Electronics Financial Statements

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Y/e 31 Mar Mar-2019 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth (97) (31) 6.08 37.30
Op profit growth 367 (298) (95) 307
EBIT growth 149 212 (109) 508
Net profit growth (86) 448 (69) (6,250)
Profitability ratios (%)        
OPM (416) (2.70) 0.94 20.20
EBIT margin (561) (6.90) (1.50) 18.30
Net profit margin (568) (121) (15) (51)
RoCE (103) (8.10) (1.10) 9.28
RoNW 7.56 (265) (5.10) (10)
RoA (26) (36) (2.80) (6.50)
Per share ratios ()        
EPS -- -- -- --
Dividend per share -- -- -- --
Cash EPS (1.60) (9) (1.90) (7.10)
Book value per share (4.70) (3.50) 5.15 13.90
Valuation ratios        
P/E -- -- -- --
P/CEPS (0.60) (0.50) (7.50) (2.70)
P/B (0.20) (1.40) 2.84 1.40
EV/EBIDTA (7.10) (71) 97.90 10.10
Payout (%)        
Dividend payout -- -- -- --
Tax payout -- 170 9.05 117
Liquidity ratios        
Debtor days 2,006 78 102 170
Inventory days 3,789 189 149 224
Creditor days (848) (109) (81) (136)
Leverage ratios        
Interest coverage 449 0.45 0.12 (85)
Net debt / equity (1.10) (1.50) 0.90 0.67
Net debt / op. profit (5.70) (27) 46.90 3.51
Cost breakup ()        
Material costs (54) (87) (75) (69)
Employee costs (76) (3.60) (2.20) (1.60)
Other costs (386) (12) (22) (9.60)
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Y/e 31 Mar( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Revenue 4.84 159 231 218
yoy growth (%) (97) (31) 6.08 37.30
Raw materials (2.60) (138) (172) (149)
As % of sales 54.10 86.90 74.70 68.60
Employee costs (3.70) (5.70) (5) (3.50)
As % of sales 76.20 3.56 2.18 1.59
Other costs (19) (19) (51) (21)
As % of sales 386 12.30 22.20 9.60
Operating profit (20) (4.30) 2.18 43.90
OPM (416) (2.70) 0.94 20.20
Depreciation (7.70) (7.70) (7.80) (7.50)
Interest expense (0.10) (24) (29) (0.50)
Other income 0.66 1.17 2.15 3.44
Profit before tax (27) (35) (32) 39.30
Taxes -- (60) (2.90) 46
Tax rate -- 170 9.05 117
Minorities and other -- -- -- --
Adj. profit (27) (95) (35) 85.30
Exceptional items (0.30) (96) -- (196)
Net profit (27) (191) (35) (111)
yoy growth (%) (86) 448 (69) (6,250)
NPM (568) (121) (15) (51)
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Profit before tax (27) (35) (32) 39.30
Depreciation (7.70) (7.70) (7.80) (7.50)
Tax paid -- (60) (2.90) 46
Working capital (382) (321) (207) (79)
Other operating items -- -- -- --
Operating cashflow (417) (424) (249) (0.80)
Capital expenditure (24) (21) (34) (9.40)
Free cash flow (441) (445) (283) (10)
Equity raised 304 437 452 600
Investments 0.56 (0.70) (1.40) (1.30)
Debt financing/disposal 87.30 33.50 8.78 65.30
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash (49) 24.50 176 654
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Equity capital 102 102 81.80 54.80
Preference capital -- -- -- --
Reserves (207) (180) 31.60 176
Net worth (104) (77) 113 231
Minority interest
Debt 117 117 104 157
Deferred tax liabilities (net) -- -- 11.20 --
Total liabilities 12.70 39.80 228 387
Fixed assets 84 91.60 99.20 138
Intangible assets
Investments 7.12 6.70 6.67 6.79
Deferred tax asset (net) -- -- 71.10 62.10
Net working capital (80) (60) 49.70 179
Inventories 49.90 50.60 114 75.20
Inventory Days 3,763 116 180 126
Sundry debtors 19.40 33.80 34 94.40
Debtor days 1,467 77.70 53.80 158
Other current assets 16 15.90 27 107
Sundry creditors (59) (57) (40) (62)
Creditor days 4,463 131 63.60 103
Other current liabilities (106) (103) (85) (37)
Cash 1.78 1.71 1.58 2.41
Total assets 12.70 39.80 228 387
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Particulars ( Rupees In Crores.) Dec-2019 Dec-2018 Dec-2017 Dec-2016 Dec-2015
Gross Sales 1.66 3.84 149 179 154
Excise Duty -- -- -- -- --
Net Sales 1.66 3.84 149 179 154
Other Operating Income -- -- -- -- 1.46
Other Income 0.12 1.81 0.93 1.21 1.90
Total Income 1.78 5.65 150 180 157
Total Expenditure ** 3.97 10.80 140 159 130
PBIDT (2.20) (5.20) 9.44 20.50 27.70
Interest 0.03 0.05 1.30 2.70 0.38
PBDT (2.20) (5.20) 8.14 17.80 27.30
Depreciation 5.65 5.76 5.77 5.57 5.76
Minority Interest Before NP -- -- -- -- --
Tax -- -- 0.51 2.37 4.13
Deferred Tax -- -- -- -- --
Reported Profit After Tax (7.90) (11) 1.86 9.84 17.40
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (7.90) (11) 1.86 9.84 17.40
Extra-ordinary Items -- -- -- -- (7.10)
Adjusted Profit After Extra-ordinary item (7.90) (11) 1.86 9.84 24.50
EPS (Unit Curr.) (0.40) (0.50) 0.08 0.56 1.05
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 44.10 44.10 44.10 35.40 33.20
Public Shareholding (Number) -- -- -- -- 140,222,998
Public Shareholding (%) -- -- -- -- 84.40
Pledged/Encumbered - No. of Shares -- -- -- -- 4,487,000
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- 17.30
Pledged/Encumbered - % in Total Equity -- -- -- -- 2.70
Non Encumbered - No. of Shares -- -- -- -- 21,428,125
Non Encumbered - % in Total Promoters Holding -- -- -- -- 82.70
Non Encumbered - % in Total Equity -- -- -- -- 12.90
PBIDTM(%) (132) (135) 6.35 11.50 18
PBDTM(%) (134) (136) 5.47 9.95 17.70
PATM(%) (474) (286) 1.25 5.51 11.30