Natco Pharma Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth (12) 8.15 93.80 26.30
Op profit growth (37) 35.90 157 24.50
EBIT growth (35) 40.40 186 24
Net profit growth (34) 43.30 209 16.70
Profitability ratios (%)        
OPM 30.40 42.50 33.80 25.50
EBIT margin 30.80 41.30 31.80 21.50
Net profit margin 24.10 31.90 24.10 15.10
RoCE 15.90 35 38.70 17.20
RoNW 3.37 7.37 8.25 3.67
RoA 3.10 6.75 7.31 3.01
Per share ratios ()        
EPS 25.20 37.70 27.80 8.95
Dividend per share 6.75 8.25 6.75 1.25
Cash EPS 19.80 34.10 24.80 6.10
Book value per share 207 167 94.60 74.40
Valuation ratios        
P/E 20.10 20 30.50 46
P/CEPS 25.50 22.10 34.20 67.50
P/B 2.44 4.53 8.95 5.54
EV/EBIDTA 13.70 14.40 21.40 26.30
Payout (%)        
Dividend payout 27.60 21.90 24.20 13.90
Tax payout (19) (22) (22) (24)
Liquidity ratios        
Debtor days 113 92.90 66.60 79.50
Inventory days 95 65.80 63.80 101
Creditor days (86) (96) (89) (112)
Leverage ratios        
Interest coverage (27) (59) (35) (9.80)
Net debt / equity 0.07 -- 0.11 0.05
Net debt / op. profit 0.43 -- 0.27 0.25
Cost breakup ()        
Material costs (20) (19) (30) (26)
Employee costs (20) (15) (12) (17)
Other costs (30) (24) (24) (31)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 1,915 2,185 2,020 1,042
yoy growth (%) (12) 8.15 93.80 26.30
Raw materials (382) (411) (599) (271)
As % of sales 19.90 18.80 29.70 26
Employee costs (375) (326) (243) (180)
As % of sales 19.60 14.90 12 17.30
Other costs (576) (520) (495) (326)
As % of sales 30.10 23.80 24.50 31.30
Operating profit 583 928 683 266
OPM 30.40 42.50 33.80 25.50
Depreciation (100) (66) (54) (51)
Interest expense (22) (15) (19) (23)
Other income 107 40.40 13.90 9.60
Profit before tax 569 887 624 202
Taxes (111) (192) (140) (48)
Tax rate (19) (22) (22) (24)
Minorities and other 2.70 1 1.10 3.50
Adj. profit 461 696 486 157
Exceptional items -- -- -- --
Net profit 461 696 486 157
yoy growth (%) (34) 43.30 209 16.70
NPM 24.10 31.90 24.10 15.10
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 569 887 624 202
Depreciation (100) (66) (54) (51)
Tax paid (111) (192) (140) (48)
Working capital 1,779 1,486 466 234
Other operating items -- -- -- --
Operating cashflow 2,138 2,115 896 337
Capital expenditure 1,774 967 432 163
Free cash flow 3,912 3,083 1,328 500
Equity raised 3,736 2,940 1,752 1,820
Investments 49.70 14 29.90 20.30
Debt financing/disposal 241 (65) (5.50) (113)
Dividends paid 127 152 118 21.80
Other items -- -- -- --
Net in cash 8,066 6,123 3,222 2,250
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 36.40 36.50 36.90 34.90
Preference capital -- -- -- --
Reserves 3,737 3,453 3,035 1,614
Net worth 3,774 3,489 3,072 1,649
Minority interest
Debt 316 386 173 222
Deferred tax liabilities (net) 71.10 40.30 14.60 15.60
Total liabilities 4,172 3,918 3,264 1,891
Fixed assets 2,102 1,865 1,499 1,169
Intangible assets
Investments 112 169 76.50 32.20
Deferred tax asset (net) 45.20 28.70 0.70 0.60
Net working capital 1,846 1,576 1,504 653
Inventories 558 529 438 349
Inventory Days 106 -- 73.20 63
Sundry debtors 551 506 638 475
Debtor days 105 -- 107 85.90
Other current assets 1,198 955 880 256
Sundry creditors (296) (265) (336) (329)
Creditor days 56.40 -- 56.10 59.40
Other current liabilities (166) (149) (116) (99)
Cash 66 280 184 35.80
Total assets 4,172 3,918 3,264 1,891
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Particulars ( Rupees In Crores.) Jun-2020 Mar-2020 Dec-2019 Sep-2019 Jun-2019
Gross Sales 563 455 482 486 492
Excise Duty -- -- -- -- --
Net Sales 563 455 482 486 492
Other Operating Income -- -- -- -- --
Other Income 18.70 22.40 30.80 33.20 21
Total Income 582 477 513 519 513
Total Expenditure ** 392 327 354 351 301
PBIDT 190 151 160 168 212
Interest 3.70 3.50 5.30 6.20 6.50
PBDT 186 147 154 161 206
Depreciation 28 30.50 25.40 21.90 22
Minority Interest Before NP -- -- -- -- --
Tax 42.50 26.20 31.10 32.80 41
Deferred Tax (6.50) (2.70) (6.70) (11) --
Reported Profit After Tax 122 93.20 104 118 143
Minority Interest After NP (0.70) (0.90) (0.10) (1.30) (0.40)
Net Profit after Minority Interest 123 94.10 105 119 143
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 123 94.10 105 119 143
EPS (Unit Curr.) 6.74 5.17 5.75 6.55 7.87
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 62.50 50 175 -- 62.50
Equity 36.40 36.40 36.40 36.40 36.40
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(%) 33.70 33.10 33.10 34.50 43.10
PBDTM(%) 33 32.40 32 33.20 41.80
PATM(%) 21.70 20.50 21.70 24.20 29