Rathi Graphic Technologies Financial Statements

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Y/e 31 Mar Mar-2018 Mar-2017 Mar-2016 Mar-2015
Growth matrix (%)        
Revenue growth (41) 1.03 (94) 11.70
Op profit growth (308) (19) (91) 25.40
EBIT growth (394) (28) (92) 23.90
Net profit growth 278 (316) (31) 19.90
Profitability ratios (%)        
OPM (32) 9.15 11.50 8.56
EBIT margin (36) 7.13 9.95 7.60
Net profit margin (257) (40) 18.80 1.75
RoCE (13) 1.14 0.99 12.40
RoNW (37) (3.70) 1.30 1.99
RoA (24) (1.60) 0.47 0.71
Per share ratios ()        
EPS -- 2.22 5.94 8.21
Dividend per share -- -- -- --
Cash EPS (30) (8.10) 3.12 1.83
Book value per share 5.26 34.40 70 67.40
Valuation ratios        
P/E -- 8.11 1.48 0.98
P/CEPS (0.40) (2.20) 2.82 4.39
P/B 2.09 0.52 0.13 0.12
EV/EBIDTA (6.20) 16 41.60 3.76
Payout (%)        
Dividend payout -- -- -- --
Tax payout -- (97) (35) (31)
Liquidity ratios        
Debtor days 256 996 1,766 99.70
Inventory days 64.40 165 285 22
Creditor days (40) (57) (153) (16)
Leverage ratios        
Interest coverage 9.56 (1.80) (2.40) (2.20)
Net debt / equity 2.19 0.30 1.27 1.32
Net debt / op. profit (3.10) 5.92 40.70 3.52
Cost breakup ()        
Material costs (88) (76) (73) (85)
Employee costs (9) (5.20) (5.30) (0.80)
Other costs (36) (10) (10) (5.20)
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Y/e 31 Mar( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Revenue 18.70 31.70 31.30 485
yoy growth (%) (41) 1.03 (94) 11.70
Raw materials (16) (24) (23) (414)
As % of sales 87.70 75.60 73.10 85.40
Employee costs (1.70) (1.60) (1.70) (3.90)
As % of sales 8.97 5.21 5.31 0.81
Other costs (6.60) (3.20) (3.20) (25)
As % of sales 35.60 10 10.20 5.20
Operating profit (6) 2.90 3.59 41.50
OPM (32) 9.15 11.50 8.56
Depreciation (0.60) (0.70) (0.70) (5.50)
Interest expense (0.70) (1.30) (1.30) (17)
Other income 0.03 0.02 0.28 0.86
Profit before tax (7.30) 1 1.79 19.80
Taxes -- (1) (0.60) (6.20)
Tax rate -- (97) (35) (31)
Minorities and other (41) (16) 4.67 (5)
Adj. profit (48) (16) 5.84 8.60
Exceptional items 0.01 3.62 0.05 (0.10)
Net profit (48) (13) 5.88 8.49
yoy growth (%) 278 (316) (31) 19.90
NPM (257) (40) 18.80 1.75
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Y/e 31 Mar ( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Profit before tax (7.30) 1 1.79 19.80
Depreciation (0.60) (0.70) (0.70) (5.50)
Tax paid -- (1) (0.60) (6.20)
Working capital (45) (126) 18.70 (19)
Other operating items -- -- -- --
Operating cashflow (53) (127) 19.10 (11)
Capital expenditure (93) (119) 1.86 (1.90)
Free cash flow (146) (246) 20.90 (12)
Equity raised 102 139 187 185
Investments 2.90 41.50 (0.40) 0.35
Debt financing/disposal (17) (64) 49.10 36.60
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash (58) (130) 257 209
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Y/e 31 Mar ( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Equity capital 16.40 16.40 16.40 16.40
Preference capital -- -- -- --
Reserves (7.80) 40.20 98.70 94.30
Net worth 8.64 56.60 115 111
Minority interest
Debt 19 17.40 147 146
Deferred tax liabilities (net) -- -- 5.41 5.53
Total liabilities 27.70 74 321 306
Fixed assets 13.20 13.70 137 141
Intangible assets
Investments 3.42 44.10 2.46 2.81
Deferred tax asset (net) 0.98 0.98 -- --
Net working capital 10 15.10 181 162
Inventories 1.02 5.57 23.10 25.80
Inventory Days 19.90 64.20 269 19.40
Sundry debtors 10.70 15.60 157 146
Debtor days 208 180 1,831 110
Other current assets 1.40 2.07 26.90 17.40
Sundry creditors (0.90) (4.50) (4.50) (19)
Creditor days 17.40 51.60 52.90 14.10
Other current liabilities (2.20) (3.70) (21) (8.30)
Cash 0.09 0.25 0.87 0.31
Total assets 27.70 74 321 306
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Particulars ( Rupees In Crores.) Mar-2016 Mar-2015 Mar-2014 Mar-2013 Mar-2012
Gross Sales 400 485 434 391 335
Excise Duty -- -- -- -- --
Net Sales 400 485 434 391 335
Other Operating Income -- -- -- -- --
Other Income 1.09 0.86 0.78 0.61 2.15
Total Income 401 486 435 392 337
Total Expenditure ** 366 443 401 360 314
PBIDT 35.60 42.50 33.90 31.80 23.40
Interest 16.90 17.30 14.70 14.50 10.70
PBDT 18.60 25.20 19.20 17.30 12.70
Depreciation 5.76 5.49 4.12 3.72 3.10
Minority Interest Before NP -- -- -- -- --
Tax 3.09 4.22 3.22 2.80 1.92
Deferred Tax -- 2 0.82 1.72 0.40
Reported Profit After Tax 9.77 13.50 11 9.07 7.27
Minority Interest After NP 3.89 5.01 3.92 3.75 --
Net Profit after Minority Interest 5.88 8.49 5.76 5.33 7.27
Extra-ordinary Items -- (0.10) 0.01 0.02 --
Adjusted Profit After Extra-ordinary item 5.88 8.56 5.75 5.31 7.27
EPS (Unit Curr.) 3.58 8.21 3.51 3.22 5.21
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 16.40 16.40 16.40 16.40 13.90
Public Shareholding (Number) -- 6,472,830 6,472,830 6,472,830 6,172,830
Public Shareholding (%) -- 39.40 39.40 39.40 44.30
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- 9,966,170 9,966,170 9,966,170 7,766,170
Non Encumbered - % in Total Promoters Holding -- 100 100 100 100
Non Encumbered - % in Total Equity -- 60.60 60.60 60.60 55.70
PBIDTM(%) 8.88 8.76 7.81 8.12 6.97
PBDTM(%) 4.65 5.20 4.42 4.43 3.78
PATM(%) 2.44 2.78 2.54 2.32 2.17