Neuland Laboratories Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2019 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth 14.40 26.40 (8.90) 13.50
Op profit growth 74.60 15.70 (53) 32.20
EBIT growth 107 9.55 (63) 32.80
Net profit growth (1.40) 36.30 (74) 71.50
Profitability ratios (%)        
OPM 13.40 8.75 9.56 18.40
EBIT margin 9.77 5.40 6.23 15.20
Net profit margin 2.13 2.47 2.29 8.10
RoCE 7.28 3.69 3.81 15.10
RoNW 0.58 0.65 0.55 3.20
RoA 0.40 0.42 0.35 2
Per share ratios ()        
EPS 12.60 12.70 13.50 52.30
Dividend per share 2 -- -- --
Cash EPS (12) (7.30) (11) 30.90
Book value per share 550 542 623 609
Valuation ratios        
P/E 22.50 52.90 52.50 28.40
P/CEPS (24) (92) (63) 48.20
P/B 0.52 1.24 1.13 2.44
EV/EBIDTA 5.45 17.10 16.90 14
Payout (%)        
Dividend payout -- -- -- --
Tax payout (69) (19) (13) (30)
Liquidity ratios        
Debtor days 84.70 98 130 94.60
Inventory days 98.60 101 107 82.50
Creditor days (69) (77) (84) (71)
Leverage ratios        
Interest coverage (3.50) (2.30) (1.70) (4.20)
Net debt / equity 0.30 0.28 0.54 0.33
Net debt / op. profit 2.09 3.32 5.99 1.69
Cost breakup ()        
Material costs (50) (55) (45) (45)
Employee costs (16) (17) (20) (16)
Other costs (21) (20) (26) (20)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Revenue 763 667 527 579
yoy growth (%) 14.40 26.40 (8.90) 13.50
Raw materials (380) (366) (238) (263)
As % of sales 49.80 54.90 45.20 45.40
Employee costs (124) (110) (103) (93)
As % of sales 16.20 16.60 19.50 16
Other costs (157) (132) (136) (117)
As % of sales 20.60 19.80 25.70 20.20
Operating profit 102 58.40 50.40 106
OPM 13.40 8.75 9.56 18.40
Depreciation (31) (26) (22) (19)
Interest expense (22) (16) (19) (21)
Other income 3.89 3.49 4.53 1.17
Profit before tax 52.90 20.30 13.90 67.20
Taxes (37) (3.90) (1.90) (20)
Tax rate (69) (19) (13) (30)
Minorities and other -- -- -- --
Adj. profit 16.20 16.40 12.10 46.90
Exceptional items -- -- -- --
Net profit 16.20 16.40 12.10 46.90
yoy growth (%) (1.40) 36.30 (74) 71.50
NPM 2.13 2.47 2.29 8.10
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Profit before tax 52.90 20.30 13.90 67.20
Depreciation (31) (26) (22) (19)
Tax paid (37) (3.90) (1.90) (20)
Working capital 231 193 165 107
Other operating items -- -- -- --
Operating cashflow 216 184 155 135
Capital expenditure 498 351 263 226
Free cash flow 714 535 417 361
Equity raised 756 748 630 607
Investments 0.47 0.51 0.54 0.52
Debt financing/disposal 34.20 21.90 165 58
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 1,505 1,305 1,213 1,027
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 12.90 12.90 8.95 8.95
Preference capital -- -- -- --
Reserves 697 686 549 537
Net worth 710 699 558 546
Minority interest
Debt 260 231 319 192
Deferred tax liabilities (net) 66.70 80.80 64.60 45.70
Total liabilities 1,036 1,012 942 783
Fixed assets 676 646 601 485
Intangible assets
Investments 7.86 7.90 7.90 7.88
Deferred tax asset (net) 18.90 69.60 51.80 30.60
Net working capital 286 250 264 247
Inventories 220 193 175 135
Inventory Days 105 105 121 85.20
Sundry debtors 190 164 194 181
Debtor days 90.90 89.80 134 114
Other current assets 90.40 82 76.30 63.80
Sundry creditors (125) (127) (130) (89)
Creditor days 59.70 69.30 89.90 56.40
Other current liabilities (89) (62) (52) (43)
Cash 47 37.80 17.30 12.50
Total assets 1,036 1,012 942 783
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Particulars ( Rupees In Crores.) Sep-2020 Jun-2020 Mar-2020 Dec-2019 Sep-2019
Gross Sales 241 205 192 204 186
Excise Duty -- -- -- -- --
Net Sales 241 205 192 204 186
Other Operating Income -- -- -- -- --
Other Income 0.61 0.70 1.78 1.02 0.57
Total Income 242 206 193 205 187
Total Expenditure ** 201 172 162 176 161
PBIDT 41.50 34.50 31.90 29.20 25.50
Interest 3.51 5.37 7.07 5.69 4.78
PBDT 38 29.20 24.80 23.50 20.70
Depreciation 9.27 8.86 7.63 7.82 8.28
Minority Interest Before NP -- -- -- -- --
Tax 3.48 -- (8.30) 3.16 3.29
Deferred Tax 3.77 5.15 34.80 1.40 0.47
Reported Profit After Tax 21.40 15.20 (9.30) 11.10 8.69
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 21.40 15.20 (9.30) 11.10 8.69
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 21.40 15.20 (9.30) 11.10 8.69
EPS (Unit Curr.) 16.70 11.80 (7.30) 8.66 6.77
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 20 -- -- 20 --
Equity 12.90 12.90 12.90 12.90 12.90
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(%) 17.20 16.80 16.70 14.30 13.70
PBDTM(%) 15.70 14.20 13 11.50 11.10
PATM(%) 8.88 7.38 (4.90) 5.45 4.67