Raghuvansh Agrofarms Financial Statements

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Y/e 31 Mar Mar-2018 Mar-2017 Mar-2016 Mar-2015
Growth matrix (%)        
Revenue growth 75.90 157 76.90 81.70
Op profit growth 4.06 215 121 151
EBIT growth 13.30 248 214 19
Net profit growth 9.14 271 178 27.20
Profitability ratios (%)        
OPM 22.40 37.80 30.80 24.60
EBIT margin 20.90 32.50 24 13.50
Net profit margin 18.60 30 20.70 13.20
RoCE 17.90 18.70 6 2.15
RoNW 4.55 4.96 1.51 0.62
RoA 3.98 4.31 1.30 0.53
Per share ratios ()        
EPS 4.46 4.09 1.10 0.40
Dividend per share -- -- -- --
Cash EPS 3.60 3.15 0.61 (0.10)
Book value per share 26.50 22.50 18.70 17.80
Valuation ratios        
P/E 9.20 12.80 -- 77.60
P/CEPS 11.40 16.60 -- (403)
P/B 1.55 2.33 -- 1.75
EV/EBIDTA 6.88 9.77 -- 33.30
Payout (%)        
Dividend payout -- -- -- --
Tax payout (10) (6) (10) 19.20
Liquidity ratios        
Debtor days 88.60 53.50 58.50 61.70
Inventory days 110 36.10 63.70 95.40
Creditor days (113) (17) (24) (89)
Leverage ratios        
Interest coverage (83) (57) (26) (5.60)
Net debt / equity -- -- -- (0.10)
Net debt / op. profit (0.10) -- (0.20) (2.50)
Cost breakup ()        
Material costs (68) (40) (24) (40)
Employee costs (1) (1.60) (5.80) (6.60)
Other costs (8.80) (21) (39) (29)
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Y/e 31 Mar( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Revenue 28.60 16.20 6.33 3.58
yoy growth (%) 75.90 157 76.90 81.70
Raw materials (19) (6.50) (1.50) (1.40)
As % of sales 67.80 39.90 24.10 40
Employee costs (0.30) (0.30) (0.40) (0.20)
As % of sales 0.96 1.62 5.81 6.58
Other costs (2.50) (3.40) (2.50) (1)
As % of sales 8.84 20.70 39.40 28.80
Operating profit 6.39 6.14 1.95 0.88
OPM 22.40 37.80 30.80 24.60
Depreciation (1) (1.10) (0.60) (0.60)
Interest expense (0.10) (0.10) (0.10) (0.10)
Other income 0.63 0.25 0.15 0.17
Profit before tax 5.91 5.18 1.46 0.40
Taxes (0.60) (0.30) (0.10) 0.08
Tax rate (10) (6) (10) 19.20
Minorities and other -- -- -- --
Adj. profit 5.32 4.87 1.31 0.47
Exceptional items -- -- -- --
Net profit 5.32 4.87 1.31 0.47
yoy growth (%) 9.14 271 178 27.20
NPM 18.60 30 20.70 13.20
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Y/e 31 Mar ( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Profit before tax 5.91 5.18 1.46 0.40
Depreciation (1) (1.10) (0.60) (0.60)
Tax paid (0.60) (0.30) (0.10) 0.08
Working capital 11.30 5.80 -- (5.80)
Other operating items -- -- -- --
Operating cashflow 15.60 9.56 0.73 (5.90)
Capital expenditure 9.89 4.97 -- (5)
Free cash flow 25.50 14.50 0.73 (11)
Equity raised 26.50 19.30 19.50 23.70
Investments 2.99 0.88 -- (0.90)
Debt financing/disposal 0.16 (0.20) -- 0.22
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 55.10 34.50 20.30 12.20
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Equity capital 11.90 11.90 11.90 11.90
Preference capital -- -- -- --
Reserves 26.80 19.70 14.90 10.40
Net worth 38.70 31.60 26.80 22.30
Minority interest
Debt 0.21 0.83 0.48 0.59
Deferred tax liabilities (net) -- -- -- --
Total liabilities 43.40 36.30 30.60 25.90
Fixed assets 12.60 13.30 13.70 14
Intangible assets
Investments 4.88 5.77 5.55 4.72
Deferred tax asset (net) 0.13 0.17 0.07 0.17
Net working capital 25.30 15.60 10.70 6.09
Inventories 5.39 15.40 1.85 1.36
Inventory Days -- 197 41.60 78.40
Sundry debtors 84.90 10.60 3.25 1.51
Debtor days -- 136 73.10 87.10
Other current assets 2.03 4.67 8.58 3.84
Sundry creditors (64) (13) (0.60) (0.30)
Creditor days -- 168 13 19.60
Other current liabilities (2.90) (1.90) (2.40) (0.30)
Cash 0.48 1.47 0.61 0.93
Total assets 43.40 36.30 30.60 25.90
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Particulars ( Rupees In Crores.) Mar-2020 Sep-2019 Mar-2019 Sep-2018 Mar-2015
Gross Sales 18.10 25.30 -- 437 2.56
Excise Duty -- -- -- -- --
Net Sales 18.10 25.30 -- 437 2.56
Other Operating Income -- -- -- -- 0.08
Other Income 1.24 0.02 -- 0.22 --
Total Income 19.30 25.30 -- 438 2.63
Total Expenditure ** 11.90 21.80 -- 427 2
PBIDT 7.43 3.50 -- 10.50 0.63
Interest 0.04 0.01 -- 0.04 0.04
PBDT 7.39 3.48 -- 10.50 0.59
Depreciation 0.48 0.46 -- 1 0.24
Minority Interest Before NP -- -- -- -- (0.10)
Tax (0.10) 0.30 -- 1.75 --
Deferred Tax -- -- 0.03 -- --
Reported Profit After Tax 7.05 2.73 -- 7.75 0.42
Minority Interest After NP 0.61 0.21 -- 0.65 --
Net Profit after Minority Interest 6.44 2.53 -- 7.10 0.42
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 6.44 2.53 -- 7.10 0.42
EPS (Unit Curr.) 5.40 2.12 -- 5.96 2.90
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 11.90 11.90 11.90 11.90 11.90
Public Shareholding (Number) -- -- -- -- 9,402,250
Public Shareholding (%) -- -- -- -- 78.90
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- -- 2,515,300
Non Encumbered - % in Total Promoters Holding -- -- -- -- 100
Non Encumbered - % in Total Equity -- -- -- -- 21.10
PBIDTM(%) 41 13.80 -- 2.41 24.60
PBDTM(%) -- -- -- -- --
PATM(%) 39 10.80 -- 1.77 16.40