Nitta Gelatin India Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth (0.40) (3.40) (0.80) 0.32
Op profit growth 21.20 (17) (1.70) 55.50
EBIT growth 17.70 (41) 20.50 136
Net profit growth 65.90 (52) 32 (857)
Profitability ratios (%)        
OPM 10.30 8.45 9.84 9.93
EBIT margin 6.19 5.24 8.53 7.02
Net profit margin 3.29 1.97 3.98 2.99
RoCE 8.12 6.80 12.60 12.20
RoNW 1.86 1.20 2.69 2.25
RoA 1.08 0.64 1.47 1.31
Per share ratios ()        
EPS 13.60 5.07 13.50 7.88
Dividend per share 2.50 2.50 2.50 2.50
Cash EPS (4.80) (9.10) 0.50 (2.20)
Book value per share 169 164 147 143
Valuation ratios        
P/E 6.57 39.30 14.20 25.90
P/CEPS (18) (22) 384 (91)
P/B 0.53 1.22 1.30 1.62
EV/EBIDTA 4.42 8.39 6.06 6.19
Payout (%)        
Dividend payout -- 33.50 16 34.30
Tax payout (7.90) (68) (49) (53)
Liquidity ratios        
Debtor days 51.10 60.50 37.40 21.70
Inventory days 87.50 77.90 69.40 59.30
Creditor days (28) (29) (28) (29)
Leverage ratios        
Interest coverage (2.70) (3) (4.80) (3.60)
Net debt / equity 0.53 0.65 0.70 0.38
Net debt / op. profit 2.31 3.31 2.67 1.39
Cost breakup ()        
Material costs (47) (51) (52) (55)
Employee costs (12) (11) (9.30) (8.80)
Other costs (31) (30) (28) (26)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 342 344 356 359
yoy growth (%) (0.40) (3.40) (0.80) 0.32
Raw materials (162) (175) (187) (197)
As % of sales 47.40 51.10 52.50 55.10
Employee costs (40) (37) (33) (31)
As % of sales 11.60 10.80 9.32 8.75
Other costs (105) (102) (101) (94)
As % of sales 30.70 29.70 28.40 26.30
Operating profit 35.20 29 35 35.60
OPM 10.30 8.45 9.84 9.93
Depreciation (16) (15) (14) (13)
Interest expense (7.80) (6) (6.40) (7)
Other income 1.61 4 9.05 2.33
Profit before tax 13.40 12 24 18.10
Taxes (1.10) (8.10) (12) (9.60)
Tax rate (7.90) (68) (49) (53)
Minorities and other (1.10) 2.91 1.93 2.17
Adj. profit 11.20 6.78 14.20 10.70
Exceptional items -- -- -- --
Net profit 11.20 6.78 14.20 10.70
yoy growth (%) 65.90 (52) 32 (857)
NPM 3.29 1.97 3.98 2.99
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 13.40 12 24 18.10
Depreciation (16) (15) (14) (13)
Tax paid (1.10) (8.10) (12) (9.60)
Working capital 41.30 61.80 55.30 32.90
Other operating items -- -- -- --
Operating cashflow 38 50.60 53.80 28.60
Capital expenditure 0.99 (85) (109) 19.30
Free cash flow 39 (35) (55) 47.90
Equity raised 229 231 218 213
Investments 0.37 0.07 0.08 (0.10)
Debt financing/disposal 36.60 47.70 56.50 15.20
Dividends paid -- 2.27 2.27 2.27
Other items -- -- -- --
Net in cash 305 247 222 278
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 18.90 18.90 9.08 9.08
Preference capital -- -- -- --
Reserves 134 132 139 124
Net worth 153 151 149 134
Minority interest
Debt 83.80 108 104 109
Deferred tax liabilities (net) 12.10 16.70 16.50 14.90
Total liabilities 252 278 270 260
Fixed assets 125 133 124 123
Intangible assets
Investments 0.87 0.92 0.89 0.90
Deferred tax asset (net) 10.60 14.70 14.30 3.04
Net working capital 114 123 124 118
Inventories 91.30 70 72.80 73.90
Inventory Days 97.30 -- 77.30 75.80
Sundry debtors 34.30 63.50 61.50 52.40
Debtor days 36.60 -- 65.30 53.80
Other current assets 42.30 39.70 40.20 35.50
Sundry creditors (22) (22) (25) (25)
Creditor days 23.20 -- 26.90 26
Other current liabilities (32) (28) (26) (19)
Cash 2.25 5.77 7.33 15.10
Total assets 252 278 270 260
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 342 303 342 356 349
Excise Duty -- -- 1.97 11.70 --
Net Sales 342 303 340 344 349
Other Operating Income -- -- -- -- 9.91
Other Income 1.61 0.92 4.59 9.05 2.33
Total Income 344 304 345 353 361
Total Expenditure ** 307 273 312 309 323
PBIDT 36.80 30.50 33 44.10 37.90
Interest 7.78 8.17 6.05 6.36 7.02
PBDT 29 22.30 26.90 37.70 30.90
Depreciation 15.60 15 15 13.70 12.80
Minority Interest Before NP -- -- -- -- --
Tax (1) 3.41 0.03 9.38 9.09
Deferred Tax 2.09 (1) 7.25 2.36 0.49
Reported Profit After Tax 12.40 4.92 4.60 12.20 8.56
Minority Interest After NP 1.11 1.45 0.14 -- (2.20)
Net Profit after Minority Interest 11.20 3.47 4.46 12.20 10.70
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 11.20 3.47 4.46 12.20 10.70
EPS (Unit Curr.) 12.40 3.82 4.91 16.20 10.80
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 25 15 25 25 25
Equity 9.08 9.08 9.08 9.08 9.08
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(%) 10.80 10.10 9.69 12.80 10.90
PBDTM(%) 8.49 7.37 7.91 11 8.86
PATM(%) 3.61 1.62 1.35 3.56 2.46