Rites Financial Statements

Rites Quarterly Results

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 64.60 11.20 22.60 8.44
Op profit growth 61.10 15.20 2.91 4.91
EBIT growth 63 3.83 (0.70) 13.60
Net profit growth 76.90 6.08 (3) 11.80
Profitability ratios (%)        
OPM 26.70 27.30 26.40 31.40
EBIT margin 35.30 35.70 38.20 47.10
Net profit margin 24.90 23.20 24.30 30.70
RoCE 33.70 23.40 24.40 28.10
RoNW 6.36 4.10 4.27 4.86
RoA 5.94 3.79 3.89 4.58
Per share ratios ()        
EPS 25.30 17.80 16.90 34
Dividend per share 16 5.50 7.57 13.60
Cash EPS 22.80 15.60 14.50 30.20
Book value per share 105 111 102 181
Valuation ratios        
P/E 9.71 -- -- --
P/CEPS 10.80 -- -- --
P/B 2.34 -- -- --
EV/EBIDTA 2.79 -- -- --
Payout (%)        
Dividend payout 51.60 40.20 16.70 17.90
Tax payout (28) (31) (33) (34)
Liquidity ratios        
Debtor days 96.70 113 135 152
Inventory days 1.48 7.26 13.50 9.29
Creditor days (21) (25) (34) (47)
Leverage ratios        
Interest coverage (126) (75) (44) --
Net debt / equity (1.40) (1.60) (1.40) (1.30)
Net debt / op. profit (5.40) (8.60) (7.90) (6.90)
Cost breakup ()        
Material costs (14) -- -- --
Employee costs (21) (31) (31) (31)
Other costs (38) (42) (43) (38)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 2,474 1,503 1,351 1,103
yoy growth (%) 64.60 11.20 22.60 8.44
Raw materials (343) -- -- --
As % of sales 13.90 -- -- --
Employee costs (521) (460) (417) (342)
As % of sales 21.10 30.60 30.90 31
Other costs (949) (633) (578) (415)
As % of sales 38.40 42.10 42.80 37.60
Operating profit 661 410 356 346
OPM 26.70 27.30 26.40 31.40
Depreciation (47) (36) (38) (37)
Interest expense (6.90) (7.20) (12) --
Other income 260 162 198 211
Profit before tax 867 529 505 520
Taxes (241) (166) (167) (177)
Tax rate (28) (31) (33) (34)
Minorities and other (17) (15) (8.70) (1.50)
Adj. profit 608 348 328 341
Exceptional items -- -- -- (2.20)
Net profit 616 348 328 339
yoy growth (%) 76.90 6.08 (3) 11.80
NPM 24.90 23.20 24.30 30.70
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 867 529 505 520
Depreciation (47) (36) (38) (37)
Tax paid (241) (166) (167) (177)
Working capital 1,374 834 64.80 (65)
Other operating items -- -- -- --
Operating cashflow 1,952 1,160 364 241
Capital expenditure 472 169 (167) 167
Free cash flow 2,424 1,329 197 407
Equity raised 3,492 3,451 3,371 3,151
Investments 32.70 (93) 108 (108)
Debt financing/disposal 47.50 55.30 (43) 90
Dividends paid 250 110 55 45
Other items -- -- -- --
Net in cash 6,247 4,853 3,688 3,585
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 250 200 200 200
Preference capital -- -- -- --
Reserves 2,383 2,222 2,014 1,838
Net worth 2,633 2,422 2,214 2,038
Minority interest
Debt 47.50 47.60 55.30 83.40
Deferred tax liabilities (net) 51.50 48.30 45.80 53.50
Total liabilities 2,814 2,590 2,372 2,219
Fixed assets 595 482 404 411
Intangible assets
Investments 261 141 133 328
Deferred tax asset (net) 80.30 120 98.90 81.80
Net working capital (1,753) (1,660) (1,860) (1,489)
Inventories 10.70 105 9.38 50.40
Inventory Days 1.57 -- 2.28 13.60
Sundry debtors 844 610 468 462
Debtor days 124 -- 114 125
Other current assets 533 510 507 633
Sundry creditors (136) (199) (77) (73)
Creditor days 20 -- 18.70 19.70
Other current liabilities (3,005) (2,686) (2,767) (2,561)
Cash 3,631 3,506 3,596 2,887
Total assets 2,814 2,590 2,372 2,219
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Particulars ( Rupees In Crores.) Mar-2021 Dec-2020 Sep-2020 Jun-2020 Mar-2020
Gross Sales 636 449 439 335 571
Excise Duty -- -- -- -- --
Net Sales 636 449 439 335 571
Other Operating Income -- -- -- -- --
Other Income 13.70 31 61.40 41.10 45.90
Total Income 650 480 500 377 617
Total Expenditure ** 451 322 311 273 407
PBIDT 198 159 189 104 209
Interest 0.99 2.11 1.37 1.54 2.06
PBDT 197 157 188 102 207
Depreciation 13.50 12.90 12.80 12.70 13.20
Minority Interest Before NP -- -- -- -- --
Tax 47 35.60 38.60 25.30 49.60
Deferred Tax (4.70) 2.86 4.39 (0.80) 0.74
Reported Profit After Tax 142 105 132 65 144
Minority Interest After NP 3.82 2.99 2.79 2.23 4.92
Net Profit after Minority Interest 138 102 130 62.80 139
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 138 102 130 62.80 139
EPS (Unit Curr.) 5.73 4.16 5.18 2.51 5.56
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 40 50 -- -- 60
Equity 240 240 250 250 250
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(%) 31.20 35.30 43.20 30.90 36.70
PBDTM(%) 31 34.90 42.90 30.50 36.30
PATM(%) 22.30 23.40 30.20 19.40 25.20
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