NACL Industries Financial Statements

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Y/e 31 Mar Mar-2018 Mar-2017 Mar-2016 Mar-2015
Growth matrix (%)        
Revenue growth 15.20 6.22 (7.20) 17.20
Op profit growth (13) 0.10 27.10 321
EBIT growth 11.90 (10) 5.30 473
Net profit growth (65) 235 16.60 (141)
Profitability ratios (%)        
OPM 5.74 7.62 8.09 5.90
EBIT margin 5.66 5.83 6.90 6.08
Net profit margin 1.37 4.45 1.41 1.12
RoCE 10 9.56 11.10 10.80
RoNW 1.24 3.94 1.34 1.19
RoA 0.60 1.82 0.56 0.50
Per share ratios ()        
EPS 0.74 2.03 0.57 0.47
Dividend per share 0.13 0.13 0.10 0.10
Cash EPS (0.50) 0.28 (1.10) (1)
Book value per share 15.30 14.70 11.90 11.40
Valuation ratios        
P/E 53.40 13.80 34.70 29
P/CEPS (75) 98.90 (18) (13)
P/B 2.58 1.91 1.66 1.20
EV/EBIDTA 12.50 9.04 7.08 6.12
Payout (%)        
Dividend payout 16.80 5.97 19.30 22.50
Tax payout (27) 22.70 (18) (27)
Liquidity ratios        
Debtor days 109 102 108 93.40
Inventory days 89.20 98.10 97.50 88.80
Creditor days (75) (68) (80) (78)
Leverage ratios        
Interest coverage (1.40) (1.10) (1.30) (1.30)
Net debt / equity 0.96 0.89 1.18 1.21
Net debt / op. profit 4.70 3.65 3.91 4.89
Cost breakup ()        
Material costs (66) (62) (63) (66)
Employee costs (8.20) (8.40) (8) (6.60)
Other costs (20) (22) (21) (21)
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Y/e 31 Mar( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Revenue 847 735 692 746
yoy growth (%) 15.20 6.22 (7.20) 17.20
Raw materials (562) (454) (438) (494)
As % of sales 66.40 61.80 63.30 66.20
Employee costs (70) (62) (55) (49)
As % of sales 8.23 8.44 8.02 6.58
Other costs (166) (162) (143) (159)
As % of sales 19.60 22.10 20.60 21.30
Operating profit 48.60 56 55.90 44
OPM 5.74 7.62 8.09 5.90
Depreciation (20) (28) (27) (25)
Interest expense (33) (38) (37) (35)
Other income 19.10 15 18.60 26
Profit before tax 14.50 4.94 10.70 10.40
Taxes (3.90) 1.12 (1.90) (2.80)
Tax rate (27) 22.70 (18) (27)
Minorities and other 0.95 1.03 0.91 0.75
Adj. profit 11.60 7.09 9.74 8.35
Exceptional items -- 25.60 -- --
Net profit 11.60 32.70 9.74 8.35
yoy growth (%) (65) 235 16.60 (141)
NPM 1.37 4.45 1.41 1.12
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Y/e 31 Mar ( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Profit before tax 14.50 4.94 10.70 10.40
Depreciation (20) (28) (27) (25)
Tax paid (3.90) 1.12 (1.90) (2.80)
Working capital 75.50 71.70 52.30 --
Other operating items -- -- -- --
Operating cashflow 66.30 49.60 34.40 (17)
Capital expenditure 94.80 91.80 41.30 --
Free cash flow 161 141 75.70 (17)
Equity raised 407 363 321 318
Investments 5.94 5 3.36 --
Debt financing/disposal 26.10 43 19.10 29.60
Dividends paid 1.95 1.95 1.88 1.56
Other items -- -- -- --
Net in cash 602 555 421 332
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Equity capital 16.70 15.60 15.60 15.60
Preference capital -- -- -- --
Reserves 267 223 213 170
Net worth 284 239 229 186
Minority interest
Debt 211 237 213 232
Deferred tax liabilities (net) -- 23.40 16.90 18.70
Total liabilities 495 499 459 437
Fixed assets 162 163 170 172
Intangible assets
Investments 14.10 9.49 8.55 12.50
Deferred tax asset (net) 1.03 16.60 11 0.71
Net working capital 306 302 261 238
Inventories 224 202 212 183
Inventory Days -- 87.10 105 96.60
Sundry debtors 268 287 221 188
Debtor days -- 124 110 99.30
Other current assets 61.50 44 32 41.30
Sundry creditors (210) (185) (144) (109)
Creditor days -- 79.80 71.70 57.70
Other current liabilities (37) (45) (59) (66)
Cash 12 8.27 8.02 13.60
Total assets 495 499 459 437
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Particulars ( Rupees In Crores.) Dec-2019 Dec-2018 Dec-2014 Dec-2013 Dec-2012
Gross Sales 738 688 589 510 496
Excise Duty -- -- -- -- --
Net Sales 738 688 589 510 496
Other Operating Income -- -- 6 1 0.49
Other Income 7.29 18.80 12 9.67 11.30
Total Income 746 706 607 520 508
Total Expenditure ** 689 655 555 500 472
PBIDT 56.70 51.60 51.90 20.80 36.40
Interest 21.60 24.80 26.20 21.20 22.60
PBDT 35.10 26.90 25.70 (0.40) 13.70
Depreciation 18.10 15.40 18.80 18.40 17.70
Minority Interest Before NP -- -- -- -- --
Tax 2.72 4.66 2.46 (4.70) (2.20)
Deferred Tax 2.43 (2) -- -- --
Reported Profit After Tax 11.90 8.82 4.41 (14) (1.90)
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 11.90 8.82 4.41 (13) (1.90)
Extra-ordinary Items -- -- -- (3.30) --
Adjusted Profit After Extra-ordinary item 11.90 8.82 4.41 (10) (1.90)
EPS (Unit Curr.) 0.71 0.56 0.28 -- --
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 16.80 15.70 15.60 15.60 14.90
Public Shareholding (Number) -- -- -- 39,269,648 32,339,710
Public Shareholding (%) -- -- -- 25.20 21.70
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- 116,641,860 116,641,860
Non Encumbered - % in Total Promoters Holding -- -- -- 100 100
Non Encumbered - % in Total Equity -- -- -- 74.80 78.30
PBIDTM(%) 7.68 7.51 8.80 4.09 7.32
PBDTM(%) 4.76 3.91 4.36 (0.10) 2.77
PATM(%) 1.61 1.28 0.75 (2.70) (0.40)