North Eastern Carrying Corporation Financial Statements

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Y/e 31 Mar Mar-2017 Mar-2016 Mar-2015 Mar-2014
Growth matrix (%)        
Revenue growth 1.79 1.45 (7.20) --
Op profit growth (4.30) 5.79 (6.90) --
EBIT growth (6.50) 8.58 (0.80) --
Net profit growth (0.70) 1.71 (12) --
Profitability ratios (%)        
OPM 3.48 3.70 3.55 3.54
EBIT margin 3.11 3.39 3.17 2.96
Net profit margin 1.02 1.05 1.04 1.10
RoCE 10.90 12.50 12.20 --
RoNW 1.85 2.01 2.15 --
RoA 0.89 0.96 1.01 --
Per share ratios ()        
EPS 1.12 1.12 1.10 1.25
Dividend per share -- -- -- --
Cash EPS 0.58 0.51 0.45 0.52
Book value per share 15.60 14.50 13.40 12.30
Valuation ratios        
P/E 53.50 40.70 69.40 53.80
P/CEPS 104 88.90 171 129
P/B 3.83 3.14 5.70 5.47
EV/EBIDTA 19.30 14.20 22.60 19.70
Payout (%)        
Dividend payout -- -- -- --
Tax payout (38) (37) (35) (32)
Liquidity ratios        
Debtor days 82.20 79.20 78.30 --
Inventory days -- -- -- --
Creditor days (2) (1.80) (0.70) --
Leverage ratios        
Interest coverage (2.10) (2) (2) (2.20)
Net debt / equity 1.02 1.03 1.05 1.12
Net debt / op. profit 4.19 3.77 3.75 3.43
Cost breakup ()        
Material costs -- -- -- --
Employee costs (2.40) (2.10) (1.90) (1.60)
Other costs (94) (94) (95) (95)
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Y/e 31 Mar( In .Cr) Mar-2017 Mar-2016 Mar-2015 Mar-2014
Revenue 548 538 531 572
yoy growth (%) 1.79 1.45 (7.20) --
Raw materials -- -- -- --
As % of sales -- -- -- --
Employee costs (13) (11) (10) (9.10)
As % of sales 2.40 2.11 1.92 1.59
Other costs (516) (507) (502) (542)
As % of sales 94.10 94.20 94.50 94.90
Operating profit 19.10 19.90 18.80 20.20
OPM 3.48 3.70 3.55 3.54
Depreciation (2.70) (3.10) (3.30) (3.70)
Interest expense (8.10) (9.30) (8.30) (7.70)
Other income 0.70 1.40 1.28 0.38
Profit before tax 9.01 8.96 8.54 9.20
Taxes (3.40) (3.30) (3) (2.90)
Tax rate (38) (37) (35) (32)
Minorities and other -- -- -- --
Adj. profit 5.60 5.64 5.54 6.27
Exceptional items -- -- -- --
Net profit 5.60 5.64 5.54 6.27
yoy growth (%) (0.70) 1.71 (12) --
NPM 1.02 1.05 1.04 1.10
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Y/e 31 Mar ( In .Cr) Mar-2017 Mar-2016 Mar-2015 Mar-2014
Profit before tax 9.01 8.96 8.54 9.20
Depreciation (2.70) (3.10) (3.30) (3.70)
Tax paid (3.40) (3.30) (3) (2.90)
Working capital 23.30 6.16 (6.20) --
Other operating items -- -- -- --
Operating cashflow 26.20 8.73 (3.90) --
Capital expenditure 0.94 (2) 2 --
Free cash flow 27.10 6.73 (1.90) --
Equity raised 34.20 34.10 34.20 --
Investments -- -- -- --
Debt financing/disposal 13.30 150 3.99 --
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 74.60 191 36.30 --
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Y/e 31 Mar ( In .Cr) Mar-2017 Mar-2016 Mar-2015 Mar-2014
Equity capital 50.20 50.20 50.20 50.20
Preference capital -- -- -- --
Reserves 28.30 22.70 17.10 11.50
Net worth 78.50 72.90 67.30 61.70
Minority interest
Debt 83.40 78.30 74.20 72.60
Deferred tax liabilities (net) -- -- -- --
Total liabilities 162 151 141 134
Fixed assets 18.50 18.40 14.80 14.60
Intangible assets
Investments -- -- -- --
Deferred tax asset (net) 0.49 0.49 0.55 0.53
Net working capital 139 129 122 116
Inventories -- -- -- --
Inventory Days -- -- -- --
Sundry debtors 127 120 114 114
Debtor days 84.40 81.50 78.10 72.90
Other current assets 27.50 24.80 30.60 20.30
Sundry creditors (1.60) (4.20) (1) (1)
Creditor days 1.09 2.81 0.69 0.64
Other current liabilities (13) (12) (21) (17)
Cash 3.59 3.24 3.69 3.21
Total assets 162 151 141 134
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Particulars ( Rupees In Crores.) Sep-2017 Jun-2017 Mar-2017 Dec-2016 Sep-2016
Gross Sales 76 140 142 145 124
Excise Duty -- -- -- -- --
Net Sales 76 140 142 145 124
Other Operating Income -- -- -- -- --
Other Income 0.40 -- (0.30) 0.61 0.12
Total Income 76.40 140 142 145 124
Total Expenditure ** 74.10 135 137 140 120
PBIDT 2.38 5.21 5.52 4.89 4.73
Interest 0.86 2.56 1.85 2.54 1.61
PBDT 1.52 2.66 3.66 2.35 3.12
Depreciation 0.75 0.66 0.78 0.70 0.62
Minority Interest Before NP -- -- -- -- --
Tax 0.26 0.68 1.39 0.54 0.80
Deferred Tax -- -- -- -- --
Reported Profit After Tax 0.51 1.32 1.50 1.11 1.70
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 0.51 1.32 1.50 1.11 1.70
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 0.51 1.32 1.50 1.11 1.70
EPS (Unit Curr.) 0.10 0.28 0.30 0.22 0.34
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 50.20 50.20 50.20 50.20 50.20
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(%) 3.13 3.71 3.88 3.38 3.81
PBDTM(%) 2 1.90 2.57 1.62 2.51
PATM(%) 0.67 0.94 1.05 0.77 1.37
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