Opal Luxury Time Products Financial Statements

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Y/e 31 Mar Mar-2018 Mar-2017 Mar-2016 Mar-2015
Growth matrix (%)        
Revenue growth (46) (14) 4.15 4.70
Op profit growth (107) (65) 16.90 2.55
EBIT growth 114 (211) (0.70) (44)
Net profit growth 78.90 3,775 (121) 11.20
Profitability ratios (%)        
OPM (1) 7.10 17.50 15.60
EBIT margin (30) (7.50) 5.81 6.10
Net profit margin (49) (15) (0.30) 1.64
RoCE (11) (4.90) 4.15 4.18
RoNW (6.90) (3.20) (0.10) 0.37
RoA (4.40) (2.40) (0.10) 0.28
Per share ratios ()        
EPS -- -- -- 1.27
Dividend per share -- -- -- --
Cash EPS (29) (20) (9.80) (6.20)
Book value per share 56.80 75 85 85.30
Valuation ratios        
P/E -- -- -- 90.20
P/CEPS (3.70) (4.90) (9.80) (19)
P/B 1.88 1.33 1.13 1.34
EV/EBIDTA (841) 24.30 8.36 11.50
Payout (%)        
Dividend payout -- -- -- --
Tax payout 0.10 (7.50) 160 109
Liquidity ratios        
Debtor days 413 202 127 126
Inventory days 336 153 109 105
Creditor days (193) (123) (36) (29)
Leverage ratios        
Interest coverage 1.57 0.89 (1) (1.10)
Net debt / equity 0.92 0.31 0.27 0.30
Net debt / op. profit (141) 4.74 1.61 2.13
Cost breakup ()        
Material costs (70) (68) (57) (57)
Employee costs (17) (9.40) (7.80) (7.70)
Other costs (14) (16) (17) (20)
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Y/e 31 Mar( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Revenue 12.60 23.40 27.10 26
yoy growth (%) (46) (14) 4.15 4.70
Raw materials (8.80) (16) (16) (15)
As % of sales 69.90 67.60 57.40 56.90
Employee costs (2.10) (2.20) (2.10) (2)
As % of sales 16.80 9.36 7.85 7.65
Other costs (1.80) (3.70) (4.70) (5.20)
As % of sales 14.30 15.90 17.30 19.90
Operating profit (0.10) 1.66 4.74 4.06
OPM (1) 7.10 17.50 15.60
Depreciation (3.70) (3.50) (3.20) (2.50)
Interest expense (2.40) (2) (1.60) (1.40)
Other income 0.06 0.05 0.03 0.03
Profit before tax (6.10) (3.70) -- 0.20
Taxes -- 0.28 (0.10) 0.22
Tax rate 0.10 (7.50) 160 109
Minorities and other -- -- -- --
Adj. profit (6.10) (3.40) (0.10) 0.43
Exceptional items -- -- -- --
Net profit (6.10) (3.40) (0.10) 0.43
yoy growth (%) 78.90 3,775 (121) 11.20
NPM (49) (15) (0.30) 1.64
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Y/e 31 Mar ( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Profit before tax (6.10) (3.70) -- 0.20
Depreciation (3.70) (3.50) (3.20) (2.50)
Tax paid -- 0.28 (0.10) 0.22
Working capital 7.13 0.04 -- --
Other operating items -- -- -- --
Operating cashflow (2.70) (6.80) (3.30) (2.10)
Capital expenditure 12.80 4.71 -- (4.70)
Free cash flow 10.10 (2.10) (3.30) (6.80)
Equity raised 46.70 50.50 50.50 46.70
Investments -- -- -- --
Debt financing/disposal 10.20 0.59 0.60 0.83
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 67 49 47.80 40.70
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Y/e 31 Mar ( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Equity capital 3.36 3.36 3.36 3.36
Preference capital -- -- -- --
Reserves 15.70 21.80 25.20 25.30
Net worth 19.10 25.20 28.60 28.70
Minority interest
Debt 17.60 8.39 8.38 9.02
Deferred tax liabilities (net) -- -- 0.58 0.67
Total liabilities 36.70 33.60 37.50 38.30
Fixed assets 12.80 16.40 19.40 20.80
Intangible assets
Investments -- -- -- --
Deferred tax asset (net) -- -- 0.26 0.26
Net working capital 23.80 16.70 17.10 17
Inventories 11.90 11.30 8.28 7.95
Inventory Days 344 176 112 112
Sundry debtors 12.30 16.10 9.73 9.06
Debtor days 358 252 131 127
Other current assets 2.54 2.54 2.42 2.88
Sundry creditors (1.20) (12) (2.40) (2)
Creditor days 35.60 191 32.10 28.50
Other current liabilities (1.70) (1) (1) (0.90)
Cash 0.04 0.51 0.72 0.36
Total assets 36.70 33.60 37.50 38.30
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Particulars ( Rupees In Crores.) Mar-2019 Mar-2018 Mar-2017 Mar-2016 Mar-2015
Gross Sales 3.08 12.60 23.30 27 26
Excise Duty -- -- -- -- --
Net Sales 3.08 12.60 23.30 27 26
Other Operating Income -- -- 0.13 0.06 0.04
Other Income 0.02 0.06 -- 0.03 0.03
Total Income 3.10 12.70 23.40 27.10 26
Total Expenditure ** 14.20 12.70 21.70 22.30 22
PBIDT (11) (0.10) 1.72 4.77 4.08
Interest 0.79 2.38 1.96 1.61 1.38
PBDT (12) (2.50) (0.20) 3.16 2.70
Depreciation 3.69 3.68 3.46 3.20 2.50
Minority Interest Before NP -- -- -- -- --
Tax -- 0.01 (0.30) 0.05 (0.20)
Deferred Tax -- -- -- -- --
Reported Profit After Tax (16) (6.10) (3.40) (0.10) 0.41
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (16) (6.10) (3.40) (0.10) 0.41
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item (16) (6.10) (3.40) (0.10) 0.41
EPS (Unit Curr.) (46) (18) (10) -- 1.27
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 3.36 3.36 3.36 3.36 3.36
Public Shareholding (Number) 2,509,888 2,509,888 2,509,888 2,509,888 2,509,888
Public Shareholding (%) 74.70 74.70 74.70 74.70 74.70
Pledged/Encumbered - No. of Shares 500,000 500,000 -- -- --
Pledged/Encumbered - % in Total Promoters Holding 58.90 58.90 -- -- --
Pledged/Encumbered - % in Total Equity 14.90 14.90 -- -- --
Non Encumbered - No. of Shares 348,930 348,930 848,930 848,930 848,930
Non Encumbered - % in Total Promoters Holding 41.10 41.10 100 100 100
Non Encumbered - % in Total Equity 10.40 10.40 25.30 25.30 25.30
PBIDTM(%) (361) (0.50) 7.38 17.70 15.70
PBDTM(%) (386) (19) (1) 11.70 10.40
PATM(%) (506) (49) (15) (0.30) 1.58