Refex Industries Financial Statements

Refex Industries Key Financial Ratios

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 760 104 (52) (7.90)
Op profit growth 2,849 (19) (18) (52)
EBIT growth 1,753 (3.20) 85.60 (47)
Net profit growth 3,434 105 (91) 76
Profitability ratios (%)        
OPM 7.77 2.26 5.70 3.37
EBIT margin 8.28 3.84 8.09 2.11
Net profit margin 5.01 1.22 1.21 6.82
RoCE 79.70 6.05 6.66 5.10
RoNW 19.10 2.20 1.15 18.80
RoA 12.10 0.48 0.25 4.13
Per share ratios ()        
EPS 21.40 0.61 0.29 3.43
Dividend per share -- -- -- --
Cash EPS 20.50 0.07 (0.20) 2.78
Book value per share 49 7.17 6.57 6.27
Valuation ratios        
P/E 1.53 24 64 2.15
P/CEPS 1.59 206 (87) 2.65
P/B 0.67 2.04 2.83 1.17
EV/EBIDTA 0.72 16.90 16.60 18.10
Payout (%)        
Dividend payout -- -- -- --
Tax payout (28) (45) (13) 1,573
Liquidity ratios        
Debtor days 30 108 432 305
Inventory days 2.32 15.30 11.80 4.28
Creditor days (25) (104) (13) (3.10)
Leverage ratios        
Interest coverage (60) (2.50) (1.20) (1.20)
Net debt / equity (0.20) 3.65 3.36 3.77
Net debt / op. profit (0.20) 23.30 15.90 13.90
Cost breakup ()        
Material costs (84) (74) (53) (77)
Employee costs (0.50) (1.50) (1.80) (0.20)
Other costs (7.40) (22) (40) (20)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 661 76.90 37.70 78
yoy growth (%) 760 104 (52) (7.90)
Raw materials (557) (57) (20) (60)
As % of sales 84.40 74.10 52.50 76.80
Employee costs (3.10) (1.20) (0.70) (0.20)
As % of sales 0.47 1.51 1.78 0.22
Other costs (49) (17) (15) (15)
As % of sales 7.39 22.10 40 19.60
Operating profit 51.30 1.74 2.15 2.63
OPM 7.77 2.26 5.70 3.37
Depreciation (1.40) (0.80) (0.80) (1)
Interest expense (0.90) (1.20) (2.50) (1.30)
Other income 4.79 2.04 1.69 0.04
Profit before tax 53.80 1.79 0.53 0.32
Taxes (15) (0.80) (0.10) 5
Tax rate (28) (45) (13) 1,573
Minorities and other -- -- -- --
Adj. profit 38.90 0.99 0.46 5.32
Exceptional items (5.80) (0.10) -- --
Net profit 33.10 0.94 0.46 5.31
yoy growth (%) 3,434 105 (91) 76
NPM 5.01 1.22 1.21 6.82
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 53.80 1.79 0.53 0.32
Depreciation (1.40) (0.80) (0.80) (1)
Tax paid (15) (0.80) (0.10) 5
Working capital 61.60 5.85 -- (5.90)
Other operating items -- -- -- --
Operating cashflow 99.20 6.01 (0.30) (1.50)
Capital expenditure (2.90) (12) -- 12.40
Free cash flow 96.30 (6.40) (0.30) 10.90
Equity raised 16.10 (11) (11) (15)
Investments -- -- -- 0.01
Debt financing/disposal 16 76.70 68.70 65.30
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 128 59.20 57.30 60.80
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 15.50 15.50 15.50 15.50
Preference capital -- -- -- --
Reserves 60.30 27.30 (4.40) (5.30)
Net worth 75.80 42.70 11.10 10.20
Minority interest
Debt 9.02 0.39 41.20 35
Deferred tax liabilities (net) -- -- 0.17 --
Total liabilities 84.80 43.10 52.50 45.10
Fixed assets 21.90 15.10 14.30 14.60
Intangible assets
Investments -- -- -- 0.01
Deferred tax asset (net) 1.84 9.05 -- 0.62
Net working capital 40.10 15 37.50 29.10
Inventories 3.18 7.59 5.23 1.22
Inventory Days 1.76 -- 24.80 11.80
Sundry debtors 72.30 87.50 36.50 8.98
Debtor days 39.90 -- 173 86.90
Other current assets 17.70 35.40 40.70 33.80
Sundry creditors (41) (101) (41) (1.30)
Creditor days 22.80 -- 197 12.50
Other current liabilities (12) (14) (3.60) (14)
Cash 21 3.87 0.70 0.77
Total assets 84.80 43.10 52.50 45.10
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Particulars ( Rupees In Crores.) Mar-2021 Dec-2020 Sep-2020 Jun-2020 Mar-2020
Gross Sales 152 144 258 78 124
Excise Duty -- -- -- -- --
Net Sales 152 144 258 78 124
Other Operating Income -- -- -- -- --
Other Income 3.87 0.01 0.50 0.06 2.07
Total Income 156 144 258 78.10 126
Total Expenditure ** 131 128 236 70.40 125
PBIDT 25.60 16.10 22.80 7.72 0.64
Interest 8.30 0.22 0.22 0.24 0.85
PBDT 17.30 15.80 22.50 7.48 (0.20)
Depreciation 4.33 0.33 0.29 0.34 0.68
Minority Interest Before NP -- -- -- -- --
Tax 4.36 3.23 6.24 3.90 5.59
Deferred Tax 0.99 0.24 -- (2.10) (1.90)
Reported Profit After Tax 7.59 12.10 16 5.29 (4.60)
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 7.59 12.10 16 5.29 (4.60)
Extra-ordinary Items -- -- -- -- (0.20)
Adjusted Profit After Extra-ordinary item 7.59 12.10 16 5.29 (4.40)
EPS (Unit Curr.) 3.62 5.74 7.62 3.42 (3)
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- 10 -- -- --
Equity 21 21 15.80 15.50 15.50
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(%) 16.80 11.10 8.83 9.89 0.52
PBDTM(%) 11.30 11 8.74 9.58 (0.20)
PATM(%) 4.98 8.35 6.21 6.78 (3.70)
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