Punjab Chemicals & Crop Protection Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 11.40 (6) (2.50) (4.80)
Op profit growth 1.97 179 (63) (14)
EBIT growth 3.98 237 (71) (22)
Net profit growth (37) (186) (250) (6.50)
Profitability ratios (%)        
OPM 7.72 8.44 2.84 7.56
EBIT margin 7.32 7.84 2.19 7.43
Net profit margin 1.96 3.48 (3.80) 2.47
RoCE 20.20 19.30 4.97 14.80
RoNW 3.13 6.48 (8.30) 25
RoA 1.35 2.14 (2.20) 1.23
Per share ratios ()        
EPS 8.77 14 -- 10.80
Dividend per share 1.50 1.50 -- --
Cash EPS (3.80) 2.64 (29) (2.80)
Book value per share 79.70 60.50 47.60 49.90
Valuation ratios        
P/E 34.40 27.80 -- 12.80
P/CEPS (80) 147 (9.50) (49)
P/B 3.78 6.43 5.87 2.78
EV/EBIDTA 8.35 11.20 17.80 6.27
Payout (%)        
Dividend payout -- 10.70 -- --
Tax payout (51) (34) 3.80 5.57
Liquidity ratios        
Debtor days 29.90 39.10 48.50 50.80
Inventory days 51 48.60 42.30 45
Creditor days (73) (91) (62) (45)
Leverage ratios        
Interest coverage (2.20) (2.20) (0.40) (0.80)
Net debt / equity 0.97 1.50 2.54 3.03
Net debt / op. profit 2.22 2.67 9.95 4.55
Cost breakup ()        
Material costs (59) (60) (53) (50)
Employee costs (13) (11) (22) (22)
Other costs (21) (21) (23) (20)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 550 493 525 538
yoy growth (%) 11.40 (6) (2.50) (4.80)
Raw materials (325) (295) (276) (268)
As % of sales 59.20 59.70 52.60 49.80
Employee costs (69) (54) (115) (120)
As % of sales 12.50 11 21.90 22.20
Other costs (113) (103) (119) (110)
As % of sales 20.60 20.80 22.70 20.40
Operating profit 42.40 41.60 14.90 40.70
OPM 7.72 8.44 2.84 7.56
Depreciation (15) (14) (16) (17)
Interest expense (18) (18) (31) (50)
Other income 13.10 11 12.60 16
Profit before tax 22.10 21 (19) (9.70)
Taxes (11) (7.10) (0.70) (0.50)
Tax rate (51) (34) 3.80 5.57
Minorities and other -- -- -- --
Adj. profit 10.80 13.90 (20) (10)
Exceptional items -- 3.26 -- 23.50
Net profit 10.80 17.20 (20) 13.30
yoy growth (%) (37) (186) (250) (6.50)
NPM 1.96 3.48 (3.80) 2.47
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 22.10 21 (19) (9.70)
Depreciation (15) (14) (16) (17)
Tax paid (11) (7.10) (0.70) (0.50)
Working capital (40) (14) (131) (13)
Other operating items -- -- -- --
Operating cashflow (44) (14) (167) (40)
Capital expenditure (210) (235) (185) (6.80)
Free cash flow (254) (249) (352) (47)
Equity raised 35.80 (3.10) 20.10 (11)
Investments (5.60) (5) (2.90) --
Debt financing/disposal (219) (174) (171) (89)
Dividends paid -- 1.84 -- --
Other items -- -- -- --
Net in cash (443) (428) (506) (147)
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 12.30 12.30 12.30 12.30
Preference capital -- -- -- --
Reserves 85.50 78.60 61.90 46.10
Net worth 97.80 90.90 74.20 58.40
Minority interest
Debt 99.20 91.40 117 151
Deferred tax liabilities (net) 9.70 15.80 -- --
Total liabilities 207 198 191 210
Fixed assets 183 186 181 230
Intangible assets
Investments 1.18 1.27 1.43 1.28
Deferred tax asset (net) 11.20 16.20 6.15 10.70
Net working capital 6.80 (9.20) (3.10) (36)
Inventories 86.50 81.60 67 64.30
Inventory Days 57.40 -- 49.60 44.70
Sundry debtors 47.70 62.60 42.30 63.40
Debtor days 31.70 -- 31.30 44.10
Other current assets 69.70 35.40 52.40 66.10
Sundry creditors (93) (115) (110) (115)
Creditor days 61.60 -- 81.10 79.70
Other current liabilities (104) (74) (55) (115)
Cash 4.85 3.60 5.72 2.91
Total assets 207 198 191 210
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Particulars ( Rupees In Crores.) Sep-2020 Jun-2020 Mar-2020 Dec-2019 Sep-2019
Gross Sales 164 132 107 152 122
Excise Duty -- -- -- -- --
Net Sales 164 132 107 152 122
Other Operating Income -- -- -- -- --
Other Income 0.60 0.93 9.48 0.93 1.42
Total Income 165 133 116 153 123
Total Expenditure ** 141 110 97.70 147 111
PBIDT 23.30 23.10 18.70 6.17 12.50
Interest 4.02 4.40 5.06 3.80 3.94
PBDT 19.20 18.70 13.60 2.37 8.56
Depreciation 3.45 3.76 3.42 3.95 4.02
Minority Interest Before NP -- -- -- -- --
Tax 4.64 3.62 7.16 2.14 0.91
Deferred Tax (0.60) 0.09 (1.70) -- 0.04
Reported Profit After Tax 11.80 11.20 4.67 (3.70) 3.59
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 11.80 11.20 4.67 (3.70) 3.59
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 11.80 11.20 4.67 (3.70) 3.59
EPS (Unit Curr.) 9.61 9.13 3.81 (3) 2.93
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 12.30 12.30 12.30 12.30 12.30
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(%) 14.20 17.40 17.50 4.06 10.30
PBDTM(%) 11.70 14.10 12.70 1.56 7.04
PATM(%) 7.18 8.47 4.37 (2.50) 2.95