Praj Industries Financial Statements

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Y/e 31 Mar Mar-2018 Mar-2017 Mar-2016 Mar-2015
Growth matrix (%)        
Revenue growth 0.17 (11) 1.13 2.67
Op profit growth (25) (40) 22.70 17.40
EBIT growth (21) (36) 20.90 13.30
Net profit growth (11) (46) 8.13 39.60
Profitability ratios (%)        
OPM 5.62 7.51 11.10 9.19
EBIT margin 5.91 7.52 10.50 8.78
Net profit margin 4.31 4.87 8.06 7.53
RoCE 7.16 9.54 15.60 13.30
RoNW 1.38 1.63 3.23 3.17
RoA 1.31 1.55 3 2.86
Per share ratios ()        
EPS 2.18 2.49 4.30 4.08
Dividend per share 1.62 1.62 1.62 1.62
Cash EPS 0.85 1.25 3.23 2.17
Book value per share 40.10 39.50 36.80 35.10
Valuation ratios        
P/E 36.90 32.10 20.80 15.30
P/CEPS 94.50 63.90 27.70 28.80
P/B 2 2.02 2.42 1.78
EV/EBIDTA 17.60 15 11.50 8.10
Payout (%)        
Dividend payout 74.20 65.20 42.10 45.40
Tax payout (26) (34) (22) (9.40)
Liquidity ratios        
Debtor days 111 132 115 108
Inventory days 36.90 41 58.50 81
Creditor days (82) (91) (77) (75)
Leverage ratios        
Interest coverage (47) (53) (53) (36)
Net debt / equity (0.10) (0.10) (0.10) (0.10)
Net debt / op. profit (1.40) (1) (0.60) (0.90)
Cost breakup ()        
Material costs (51) (51) (46) (50)
Employee costs (16) (16) (15) (13)
Other costs (27) (25) (28) (28)
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Y/e 31 Mar( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Revenue 917 915 1,024 1,012
yoy growth (%) 0.17 (11) 1.13 2.67
Raw materials (469) (467) (467) (506)
As % of sales 51.20 51.10 45.60 50
Employee costs (149) (148) (154) (133)
As % of sales 16.30 16.20 15.10 13.20
Other costs (246) (231) (288) (280)
As % of sales 26.90 25.30 28.20 27.70
Operating profit 51.50 68.70 114 93
OPM 5.62 7.51 11.10 9.19
Depreciation (24) (22) (25) (38)
Interest expense (1.10) (1.30) (2) (2.50)
Other income 26.70 22.30 18.40 33.70
Profit before tax 53 67.50 105 86.40
Taxes (14) (23) (23) (8.20)
Tax rate (26) (34) (22) (9.40)
Minorities and other -- -- -- (2)
Adj. profit 39.50 44.60 82.50 76.30
Exceptional items -- -- -- --
Net profit 39.50 44.60 82.50 76.30
yoy growth (%) (11) (46) 8.13 39.60
NPM 4.31 4.87 8.06 7.53
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Y/e 31 Mar ( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Profit before tax 53 67.50 105 86.40
Depreciation (24) (22) (25) (38)
Tax paid (14) (23) (23) (8.20)
Working capital 66.30 49.60 72.40 (16)
Other operating items -- -- -- --
Operating cashflow 81.70 72.10 130 24.70
Capital expenditure 324 152 106 18.50
Free cash flow 406 224 236 43.20
Equity raised 1,201 1,176 1,101 1,086
Investments (58) (21) (18) 66.90
Debt financing/disposal 6.02 (19) 4.89 (3.80)
Dividends paid 29.30 29.10 28.80 28.80
Other items -- -- -- --
Net in cash 1,584 1,389 1,354 1,221
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Equity capital 36.50 36.20 35.90 35.60
Preference capital -- -- -- --
Reserves 708 690 674 620
Net worth 745 726 710 655
Minority interest
Debt 0.04 6.02 4.38 16.10
Deferred tax liabilities (net) 30.20 32.30 32.80 24.10
Total liabilities 776 765 747 696
Fixed assets 292 301 301 273
Intangible assets
Investments 211 201 134 145
Deferred tax asset (net) 39.50 36.50 35.30 31.50
Net working capital 146 146 203 164
Inventories 126 80.80 105 101
Inventory Days -- 32.20 41.70 35.90
Sundry debtors 305 263 295 367
Debtor days -- 105 118 131
Other current assets 215 203 276 181
Sundry creditors (235) (176) (213) (207)
Creditor days -- 70.30 85.10 73.90
Other current liabilities (267) (224) (260) (278)
Cash 88 80.30 73.60 81.90
Total assets 776 765 747 696
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Particulars ( Rupees In Crores.) Mar-2020 Dec-2019 Sep-2019 Jun-2019 Mar-2019
Gross Sales 296 300 294 212 368
Excise Duty -- -- -- -- --
Net Sales 296 300 294 212 368
Other Operating Income -- -- -- -- --
Other Income 4.97 5.80 6.99 8.31 7.39
Total Income 301 306 301 220 376
Total Expenditure ** 264 275 277 203 329
PBIDT 37.20 30.80 23.70 16.40 46.80
Interest 0.79 0.76 0.76 0.79 0.18
PBDT 36.40 30 22.90 15.60 46.60
Depreciation 4.74 5.70 5.72 5.69 5.42
Minority Interest Before NP -- -- -- -- --
Tax 7.01 4.75 2.94 3.79 9.49
Deferred Tax (0.20) (1.10) (1.90) (2.60) (1.70)
Reported Profit After Tax 24.90 20.70 16.10 8.77 33.40
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 24.90 20.70 16.10 8.77 33.40
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 24.90 20.70 16.10 8.77 33.40
EPS (Unit Curr.) 1.36 1.13 0.88 0.48 1.83
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 135 -- -- -- --
Equity 36.60 36.60 36.30 36.50 36.50
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(%) 12.60 10.30 8.05 7.76 12.70
PBDTM(%) 12.30 10 7.79 7.39 12.70
PATM(%) 8.39 6.88 5.48 4.14 9.06