Rama Steel Tubes Financial Statements

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Y/e 31 Mar Mar-2018 Mar-2017 Mar-2016 Mar-2015
Growth matrix (%)        
Revenue growth 45 7.35 25.70 --
Op profit growth 12.30 36 153 --
EBIT growth 20 40.40 141 --
Net profit growth 34.40 57.10 777 --
Profitability ratios (%)        
OPM 5.91 7.63 6.02 2.99
EBIT margin 6.62 8.01 6.12 3.19
Net profit margin 3.38 3.64 2.49 0.36
RoCE 19.80 21.40 18.50 --
RoNW 4.85 5.98 6.35 --
RoA 2.52 2.44 1.88 --
Per share ratios ()        
EPS 7.57 5.90 4.03 4.60
Dividend per share -- -- -- --
Cash EPS 6.19 4.09 2.13 (11)
Book value per share 46.90 32.70 17.90 139
Valuation ratios        
P/E 23.30 22.20 22.50 --
P/CEPS 28.50 32 42.70 --
P/B 3.76 4.01 5.27 --
EV/EBIDTA 12.80 10.90 10.60 --
Payout (%)        
Dividend payout -- -- -- --
Tax payout (31) (28) (30) (21)
Liquidity ratios        
Debtor days 34.40 39.60 26.20 --
Inventory days 41.50 58.40 43.20 --
Creditor days (10) (23) (14) --
Leverage ratios        
Interest coverage (3.80) (2.70) (2.40) (1.20)
Net debt / equity 0.67 0.94 1.91 2.29
Net debt / op. profit 2.38 2.47 3.49 8.21
Cost breakup ()        
Material costs (90) (86) (88) (88)
Employee costs (1.20) (1.30) (1.30) (1.40)
Other costs (3) (4.80) (5) (7.50)
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Y/e 31 Mar( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Revenue 377 260 242 192
yoy growth (%) 45 7.35 25.70 --
Raw materials (338) (224) (212) (169)
As % of sales 89.80 86.20 87.70 88.10
Employee costs (4.70) (3.40) (3.10) (2.80)
As % of sales 1.23 1.33 1.29 1.45
Other costs (11) (12) (12) (14)
As % of sales 3.02 4.81 4.97 7.51
Operating profit 22.30 19.80 14.60 5.76
OPM 5.91 7.63 6.02 2.99
Depreciation (2.30) (2.90) (2.80) (2.30)
Interest expense (6.50) (7.70) (6.20) (5.30)
Other income 5 3.88 3.08 2.64
Profit before tax 18.40 13.10 8.63 0.87
Taxes (5.70) (3.70) (2.60) (0.20)
Tax rate (31) (28) (30) (21)
Minorities and other -- -- -- --
Adj. profit 12.70 9.46 6.02 0.69
Exceptional items -- -- -- --
Net profit 12.70 9.46 6.02 0.69
yoy growth (%) 34.40 57.10 777 --
NPM 3.38 3.64 2.49 0.36
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Y/e 31 Mar ( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Profit before tax 18.40 13.10 8.63 0.87
Depreciation (2.30) (2.90) (2.80) (2.30)
Tax paid (5.70) (3.70) (2.60) (0.20)
Working capital 53.30 24.50 (25) --
Other operating items -- -- -- --
Operating cashflow 63.70 31.10 (21) --
Capital expenditure 18.90 (4.20) 4.17 --
Free cash flow 82.60 26.90 (17) --
Equity raised 81.70 52.70 57 --
Investments (11) (10) 9.96 --
Debt financing/disposal 13.70 12 13.30 --
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 167 81.60 63.10 --
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Equity capital 8.40 10.70 12.60 7.47
Preference capital -- -- -- 1
Reserves 78.60 68.10 39.80 18.30
Net worth 87 78.80 52.40 26.70
Minority interest
Debt 89.90 62.80 56.60 57.10
Deferred tax liabilities (net) 1.23 1 0.78 0.32
Total liabilities 178 143 110 84.10
Fixed assets 42.20 41.70 26.70 17.70
Intangible assets
Investments 4.53 2.08 2.20 12.20
Deferred tax asset (net) 1.85 0.19 0.16 --
Net working capital 123 88.80 73.10 48.10
Inventories 51.40 34.30 51.40 31.70
Inventory Days -- 33.20 72.30 47.80
Sundry debtors 64.50 38.10 32.80 23.50
Debtor days -- 37 46.10 35.50
Other current assets 30.50 26.90 14.30 16
Sundry creditors (19) (4.30) (15) (15)
Creditor days -- 4.16 21.60 23.10
Other current liabilities (4.70) (6.20) (10) (7.80)
Cash 6.76 9.72 7.65 6.18
Total assets 178 143 110 84.10
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Particulars ( Rupees In Crores.) Jun-2020 Mar-2020 Dec-2019 Sep-2019 Jun-2019
Gross Sales 47.50 84.30 87.10 81.30 100
Excise Duty -- -- -- -- --
Net Sales 47.50 84.30 87.10 81.30 100
Other Operating Income -- -- -- -- --
Other Income 1.11 2.47 1.51 1.64 1.10
Total Income 48.60 86.80 88.70 83 101
Total Expenditure ** 47.90 81.30 85 82 95.90
PBIDT 0.63 5.43 3.67 0.94 5.20
Interest 1.95 2.26 2.55 2.06 2.77
PBDT (1.30) 3.17 1.11 (1.10) 2.44
Depreciation 0.81 0.61 0.72 0.71 0.70
Minority Interest Before NP -- -- -- -- --
Tax -- 0.15 0.04 (0.40) 0.41
Deferred Tax (0.20) 1.81 -- (0.10) (0.20)
Reported Profit After Tax (1.90) 0.61 0.40 (1.40) 1.53
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (1.90) 0.61 0.40 (1.40) 1.53
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item (1.90) 0.61 0.40 (1.40) 1.53
EPS (Unit Curr.) (1.10) 0.41 0.33 (0.70) 0.88
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 8.40 8.40 8.40 8.40 8.40
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(%) 1.33 6.44 4.21 1.16 5.20
PBDTM(%) (2.80) 3.76 1.27 (1.40) 2.44
PATM(%) (4) 0.72 0.46 (1.70) 1.53