Minda Industries Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 22.20 32 34 13.20
Op profit growth 16 42.70 57.30 54.10
EBIT growth (11) 59.90 58.10 81.20
Net profit growth (50) 87.80 48.60 63.50
Profitability ratios (%)        
OPM 11.30 11.90 11 9.41
EBIT margin 6.52 9 7.43 6.30
Net profit margin 2.84 6.94 4.88 4.40
RoCE 12.40 20.30 18.60 19.40
RoNW 2.40 6.28 5.39 6.64
RoA 1.34 3.91 3.05 3.39
Per share ratios ()        
EPS 6.66 35.40 20.90 68.40
Dividend per share 0.40 2.80 2.20 7
Cash EPS (5.60) 16.70 3.66 11.70
Book value per share 69.20 162 134 297
Valuation ratios        
P/E 35.70 10.10 7.04 0.97
P/CEPS (42) 21.40 40.20 5.68
P/B 3.43 2.23 1.10 0.22
EV/EBIDTA 11 17.20 9.41 7.64
Payout (%)        
Dividend payout 6.77 7.85 5.83 12.10
Tax payout (29) (27) (22) (21)
Liquidity ratios        
Debtor days 50.60 52.60 46.50 47.20
Inventory days 32.50 26.70 22.70 23.40
Creditor days (69) (62) (53) (51)
Leverage ratios        
Interest coverage (4) (11) (6.30) (6.20)
Net debt / equity 0.53 0.31 0.13 0.71
Net debt / op. profit 1.56 0.81 0.36 1.41
Cost breakup ()        
Material costs (60) (62) (62) (64)
Employee costs (15) (13) (13) (13)
Other costs (13) (13) (13) (14)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 5,465 4,471 3,386 2,527
yoy growth (%) 22.20 32 34 13.20
Raw materials (3,284) (2,763) (2,116) (1,610)
As % of sales 60.10 61.80 62.50 63.70
Employee costs (847) (587) (451) (326)
As % of sales 15.50 13.10 13.30 12.90
Other costs (715) (587) (444) (353)
As % of sales 13.10 13.10 13.10 14
Operating profit 619 534 374 238
OPM 11.30 11.90 11 9.41
Depreciation (302) (165) (136) (93)
Interest expense (90) (35) (40) (26)
Other income 39.30 33.40 13.80 14
Profit before tax 266 367 212 134
Taxes (78) (98) (46) (28)
Tax rate (29) (27) (22) (21)
Minorities and other (20) 2.41 (0.30) 0.18
Adj. profit 169 272 165 106
Exceptional items (14) 38.20 -- 5.20
Net profit 155 310 165 111
yoy growth (%) (50) 87.80 48.60 63.50
NPM 2.84 6.94 4.88 4.40
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 266 367 212 134
Depreciation (302) (165) (136) (93)
Tax paid (78) (98) (46) (28)
Working capital 456 360 464 74.70
Other operating items -- -- -- --
Operating cashflow 343 464 493 87.80
Capital expenditure 2,622 1,135 415 363
Free cash flow 2,965 1,599 908 451
Equity raised 1,757 1,373 1,174 644
Investments 353 132 89.30 (3.90)
Debt financing/disposal 1,248 479 431 229
Dividends paid 10.50 24.40 9.63 11.10
Other items -- -- -- --
Net in cash 6,334 3,608 2,612 1,331
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 52.40 52.40 17.40 316
Preference capital -- 3 19.70 --
Reserves 1,763 1,652 1,374 744
Net worth 1,816 1,707 1,411 1,059
Minority interest
Debt 1,295 1,080 594 510
Deferred tax liabilities (net) 108 77.90 45.20 23.50
Total liabilities 3,502 3,131 2,262 1,710
Fixed assets 2,553 2,011 1,561 1,002
Intangible assets
Investments 372 356 155 111
Deferred tax asset (net) 94.70 77.30 63.80 53.20
Net working capital 154 577 322 169
Inventories 555 561 418 238
Inventory Days 37.10 -- 34.10 25.60
Sundry debtors 726 899 790 500
Debtor days 48.50 -- 64.50 53.80
Other current assets 304 294 263 144
Sundry creditors (1,008) (850) (836) (502)
Creditor days 67.30 -- 68.20 54.10
Other current liabilities (424) (327) (313) (209)
Cash 328 110 159 374
Total assets 3,502 3,131 2,262 1,710
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Particulars ( Rupees In Crores.) Sep-2020 Jun-2020 Mar-2020 Dec-2019 Sep-2019
Gross Sales 1,465 417 1,339 1,327 1,360
Excise Duty -- -- -- -- --
Net Sales 1,465 417 1,339 1,327 1,360
Other Operating Income -- -- -- -- --
Other Income 12.50 3.73 16 11.30 5.07
Total Income 1,478 421 1,355 1,338 1,365
Total Expenditure ** 1,250 489 1,226 1,169 1,198
PBIDT 228 (68) 129 169 167
Interest 18.10 19.60 21 21.60 23.80
PBDT 210 (87) 108 148 143
Depreciation 81 68.20 81.70 75.10 74
Minority Interest Before NP -- -- -- -- --
Tax 9.66 (1.10) 18.70 21.80 21.50
Deferred Tax 34.70 (36) (5.40) (2.40) (4.30)
Reported Profit After Tax 84.50 (119) 13.10 53.50 51.70
Minority Interest After NP 13.70 (17) 5.54 9.72 8.65
Net Profit after Minority Interest 80.80 (118) 7.30 44.70 49.40
Extra-ordinary Items -- -- (2.60) (3.60) --
Adjusted Profit After Extra-ordinary item 80.80 (118) 9.90 48.40 49.40
EPS (Unit Curr.) 3.07 (4.50) 0.28 1.71 1.88
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- 20 --
Equity 54.40 52.40 52.40 52.40 52.40
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(%) 15.60 (16) 9.64 12.80 12.30
PBDTM(%) 14.30 (21) 8.07 11.10 10.50
PATM(%) 5.77 (28) 0.98 4.03 3.81