Precision Camshafts Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 77.10 (4.70) 0.57 (17)
Op profit growth 40.60 (20) (15) (17)
EBIT growth (37) (28) (7.20) 2.26
Net profit growth (26) (29) (3.10) 48.10
Profitability ratios (%)        
OPM 15 18.90 22.40 26.60
EBIT margin 6.31 17.90 23.60 25.60
Net profit margin 4.68 11.20 15.10 15.60
RoCE 5.87 10.60 15.20 19.40
RoNW 1.46 2.07 3.16 4.73
RoA 1.09 1.67 2.42 2.96
Per share ratios ()        
EPS 2.70 4.86 7.02 7.04
Dividend per share 0.95 1 1.50 1
Cash EPS (5.40) 0.32 3.08 3.14
Book value per share 65.10 61.30 58.90 52.10
Valuation ratios        
P/E 9.26 21 19.80 21.40
P/CEPS (4.60) 319 45.10 47.90
P/B 0.38 1.67 2.36 2.89
EV/EBIDTA 2.85 7.60 8.28 8.42
Payout (%)        
Dividend payout 36.60 26.20 21.40 16.70
Tax payout (26) (33) (31) (34)
Liquidity ratios        
Debtor days 69.30 93.80 80.20 80.60
Inventory days 48.90 40 30.40 35.10
Creditor days (57) (90) (77) (84)
Leverage ratios        
Interest coverage (5.20) (15) (15) (12)
Net debt / equity 0.23 (0.10) (0.30) (0.30)
Net debt / op. profit 1.28 (0.80) (1.50) (1.30)
Cost breakup ()        
Material costs (37) (32) (31) (30)
Employee costs (18) (14) (14) (13)
Other costs (30) (36) (32) (30)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 746 421 442 440
yoy growth (%) 77.10 (4.70) 0.57 (17)
Raw materials (278) (133) (138) (133)
As % of sales 37.30 31.70 31.20 30.30
Employee costs (135) (58) (63) (57)
As % of sales 18.20 13.80 14.30 12.90
Other costs (221) (150) (142) (132)
As % of sales 29.60 35.60 32.10 30.10
Operating profit 112 79.70 99.20 117
OPM 15 18.90 22.40 26.60
Depreciation (86) (44) (37) (39)
Interest expense (9.10) (5.20) (7.20) (9.10)
Other income 21.40 39.80 42.50 34.30
Profit before tax 38 70.10 97.20 103
Taxes (9.80) (23) (31) (35)
Tax rate (26) (33) (31) (34)
Minorities and other 8.94 (0.10) -- --
Adj. profit 37.10 47.30 66.60 68.70
Exceptional items (2.20) -- -- --
Net profit 35 47.30 66.60 68.70
yoy growth (%) (26) (29) (3.10) 48.10
NPM 4.68 11.20 15.10 15.60
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 38 70.10 97.20 103
Depreciation (86) (44) (37) (39)
Tax paid (9.80) (23) (31) (35)
Working capital 157 93.70 (53) 52.80
Other operating items -- -- -- --
Operating cashflow 99.10 96.80 (24) 82.60
Capital expenditure 681 95 58.80 (59)
Free cash flow 780 192 35.20 23.80
Equity raised 758 612 811 804
Investments 68.40 92.50 41 (41)
Debt financing/disposal (12) (108) (56) 55.70
Dividends paid 9.02 9.49 14.20 9.47
Other items -- -- -- --
Net in cash 1,604 798 845 851
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 95 95 94.90 94.80
Preference capital -- -- -- --
Reserves 523 510 487 464
Net worth 618 605 581 559
Minority interest
Debt 200 169 107 111
Deferred tax liabilities (net) 29.10 43.80 23.80 21.20
Total liabilities 879 859 727 691
Fixed assets 478 516 357 225
Intangible assets
Investments 130 100 154 117
Deferred tax asset (net) 8.85 7.25 7.65 6.40
Net working capital 205 147 39.60 86
Inventories 141 106 58.90 33.40
Inventory Days 68.90 -- 51 27.60
Sundry debtors 172 142 111 105
Debtor days 84.10 -- 96.50 86.80
Other current assets 53.60 77.90 34.40 44.50
Sundry creditors (105) (104) (93) (75)
Creditor days 51.20 -- 80.40 62
Other current liabilities (57) (74) (72) (22)
Cash 56.40 89.30 168 257
Total assets 879 859 727 690
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 746 695 429 466 456
Excise Duty -- -- 7.32 24 16.60
Net Sales 746 695 421 442 440
Other Operating Income -- -- -- -- --
Other Income 21.50 17.70 39.80 42.50 34.30
Total Income 768 713 461 485 474
Total Expenditure ** 637 598 342 343 323
PBIDT 131 115 120 142 151
Interest 9.09 8.72 5.18 7.15 9.08
PBDT 122 106 114 135 142
Depreciation 86.40 78 45.50 37.40 39
Minority Interest Before NP -- -- -- -- --
Tax 26.60 20.80 20.50 35.50 34.60
Deferred Tax (17) 0.37 2.27 (5) --
Reported Profit After Tax 25.60 7.07 46.10 66.60 68.70
Minority Interest After NP (9.30) (4.50) -- -- --
Net Profit after Minority Interest 35 11.50 46.10 66.60 68.70
Extra-ordinary Items (0.60) (7.60) -- -- --
Adjusted Profit After Extra-ordinary item 35.50 19.20 46.10 66.60 68.70
EPS (Unit Curr.) 3.68 1.21 4.98 7.03 8.20
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 9.50 10 10 15 10
Equity 95 95 94.90 94.80 94.70
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(%) 17.60 16.50 28.40 32 34.40
PBDTM(%) 16.30 15.30 27.10 30.40 32.40
PATM(%) 3.43 1.02 10.90 15.10 15.60