Rajapalayam Mills Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth (16) 4.65 3.46 7.30
Op profit growth (40) (23) 31.40 (28)
EBIT growth (70) (47) 42.60 (34)
Net profit growth (20) (20) 41.60 354
Profitability ratios (%)        
OPM 9.72 13.70 18.50 14.60
EBIT margin 2.65 7.42 14.60 10.60
Net profit margin 25.70 27.10 35.70 26.10
RoCE 0.44 1.69 3.36 3.72
RoNW 1.36 1.87 2.56 3.40
RoA 1.06 1.55 2.06 2.29
Per share ratios ()        
EPS -- 24.50 48 12.30
Dividend per share 1 4 4 3
Cash EPS 79.10 112 169 110
Book value per share 2,430 2,175 2,022 1,832
Valuation ratios        
P/E -- 44.70 17.70 28.10
P/CEPS 6.29 9.74 5.03 3.13
P/B 0.20 0.50 0.42 0.19
EV/EBIDTA 21.80 16.20 11.20 8.50
Payout (%)        
Dividend payout -- 2.56 2.03 4.76
Tax payout (31) 27.80 (6.60) (40)
Liquidity ratios        
Debtor days 51.60 40.20 37.30 36.70
Inventory days 134 112 115 89.70
Creditor days (14) (7.60) (8.60) (10)
Leverage ratios        
Interest coverage (0.40) (1.80) (2.80) (1.60)
Net debt / equity 0.32 0.15 0.19 0.21
Net debt / op. profit 16.60 4.08 3.70 4.96
Cost breakup ()        
Material costs (52) (56) (50) (49)
Employee costs (16) (12) (12) (12)
Other costs (22) (18) (20) (25)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 358 426 407 393
yoy growth (%) (16) 4.65 3.46 7.30
Raw materials (186) (240) (204) (192)
As % of sales 51.90 56.30 50 48.80
Employee costs (57) (51) (48) (47)
As % of sales 16 11.90 11.90 12
Other costs (80) (77) (80) (97)
As % of sales 22.40 18.10 19.60 24.60
Operating profit 34.80 58.20 75.40 57.40
OPM 9.72 13.70 18.50 14.60
Depreciation (34) (33) (21) (22)
Interest expense (26) (18) (21) (27)
Other income 8.52 6.23 5.07 6.06
Profit before tax (16) 14.10 37.90 14.90
Taxes 5.09 3.91 (2.50) (5.90)
Tax rate (31) 27.80 (6.60) (40)
Minorities and other 103 97.40 110 93.50
Adj. profit 92.10 115 145 103
Exceptional items -- -- -- --
Net profit 92.10 115 145 103
yoy growth (%) (20) (20) 41.60 354
NPM 25.70 27.10 35.70 26.10
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax (16) 14.10 37.90 14.90
Depreciation (34) (33) (21) (22)
Tax paid 5.09 3.91 (2.50) (5.90)
Working capital 101 20.40 33 (33)
Other operating items -- -- -- --
Operating cashflow 55.40 5.50 47.20 (46)
Capital expenditure 376 41.80 6.47 (6.50)
Free cash flow 431 47.30 53.60 (52)
Equity raised 1,831 1,640 2,674 2,719
Investments 1,549 1,365 108 (108)
Debt financing/disposal 305 103 178 325
Dividends paid -- 2.95 2.95 4.88
Other items -- -- -- --
Net in cash 4,116 3,159 3,016 2,888
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 7.36 7.36 7.36 7.36
Preference capital -- -- -- --
Reserves 1,781 1,694 1,594 1,481
Net worth 1,789 1,701 1,601 1,488
Minority interest
Debt 583 458 239 282
Deferred tax liabilities (net) 69.90 58.10 59 62.80
Total liabilities 2,442 2,218 1,899 1,833
Fixed assets 583 399 281 290
Intangible assets
Investments 1,588 1,504 1,406 1,318
Deferred tax asset (net) 52.20 35.40 34.50 31.50
Net working capital 212 276 175 190
Inventories 147 149 115 147
Inventory Days 150 -- 98.50 132
Sundry debtors 50.60 62.10 50.50 43.40
Debtor days 51.60 -- 43.20 38.90
Other current assets 56.40 116 40.10 38.30
Sundry creditors (18) (19) (5.80) (9.60)
Creditor days 18.70 -- 4.99 8.57
Other current liabilities (23) (31) (24) (29)
Cash 6.39 3.68 1.91 3.11
Total assets 2,442 2,218 1,899 1,833
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 352 406 420 401 393
Excise Duty -- -- -- -- --
Net Sales 352 406 420 401 393
Other Operating Income 5.50 6.36 6.08 5.72 --
Other Income 8.52 15.80 6.24 5.07 6.06
Total Income 366 428 432 412 400
Total Expenditure ** 323 361 368 332 336
PBIDT 43.30 67.70 64.50 80.40 63.40
Interest 25.90 22 17.50 21.40 26.70
PBDT 17.50 45.70 46.90 59 36.70
Depreciation 33.90 31.80 32.90 21.10 21.90
Minority Interest Before NP -- -- -- -- --
Tax -- 0.25 3.04 8.04 5.09
Deferred Tax (5.10) (1.90) (7) (5.50) 0.80
Reported Profit After Tax (11) 15.60 18 35.40 8.99
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 92.10 104 115 145 103
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 92.10 104 115 145 103
EPS (Unit Curr.) 125 142 157 197 140
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 10 40 40 40 30
Equity 7.36 7.36 7.36 7.36 7.33
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(%) 12.30 16.70 15.40 20 16.10
PBDTM(%) 4.96 11.30 11.20 14.70 9.34
PATM(%) (3.20) 3.83 4.29 8.81 2.28