Rites Financial Statements

Rites Annually Results

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Y/e 31 Mar Mar-2021 Mar-2020 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth (25) 64.60 11.20 22.60
Op profit growth (24) 61.10 15.20 2.91
EBIT growth (32) 63 3.83 (0.70)
Net profit growth (30) 76.90 6.08 (3)
Profitability ratios (%)        
OPM 27.10 26.70 27.30 26.40
EBIT margin 32.10 35.30 35.70 38.20
Net profit margin 23.30 24.90 23.20 24.30
RoCE 22.20 33.70 23.40 24.40
RoNW 4.30 6.36 4.10 4.27
RoA 4.02 5.94 3.79 3.89
Per share ratios ()        
EPS 18.50 25.30 17.80 16.90
Dividend per share 13 16 5.50 7.57
Cash EPS 15.80 22.80 15.60 14.50
Book value per share 99.50 105 111 102
Valuation ratios        
P/E 13 9.71 -- --
P/CEPS 15.20 10.80 -- --
P/B 2.42 2.34 -- --
EV/EBIDTA 3.78 2.81 -- --
Payout (%)        
Dividend payout 50 40.60 40.20 16.70
Tax payout (25) (28) (31) (33)
Liquidity ratios        
Debtor days 140 96.70 113 135
Inventory days 30.30 2.11 7.26 13.50
Creditor days (50) (21) (25) (34)
Leverage ratios        
Interest coverage (99) (126) (75) (44)
Net debt / equity (1.40) (1.40) (1.60) (1.40)
Net debt / op. profit (6.60) (5.40) (8.60) (7.90)
Cost breakup ()        
Material costs (2.90) (14) -- --
Employee costs (26) (21) (31) (31)
Other costs (44) (38) (42) (43)
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Y/e 31 Mar( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Revenue 1,860 2,474 1,503 1,351
yoy growth (%) (25) 64.60 11.20 22.60
Raw materials (54) (343) -- --
As % of sales 2.88 13.90 -- --
Employee costs (483) (521) (460) (417)
As % of sales 26 21.10 30.60 30.90
Other costs (819) (949) (633) (578)
As % of sales 44 38.40 42.10 42.80
Operating profit 504 661 410 356
OPM 27.10 26.70 27.30 26.40
Depreciation (52) (47) (36) (38)
Interest expense (6) (6.90) (7.20) (12)
Other income 145 260 162 198
Profit before tax 591 867 529 505
Taxes (148) (241) (166) (167)
Tax rate (25) (28) (31) (33)
Minorities and other (12) (17) (15) (8.70)
Adj. profit 431 608 348 328
Exceptional items -- -- -- --
Net profit 432 616 348 328
yoy growth (%) (30) 76.90 6.08 (3)
NPM 23.30 24.90 23.20 24.30
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Profit before tax 591 867 529 505
Depreciation (52) (47) (36) (38)
Tax paid (148) (241) (166) (167)
Working capital 978 1,103 571 --
Other operating items -- -- -- --
Operating cashflow 1,369 1,681 898 299
Capital expenditure 513 440 (135) --
Free cash flow 1,883 2,122 763 299
Equity raised 3,401 3,743 3,582 3,402
Investments 60.90 34.80 (87) --
Debt financing/disposal 36.60 47.50 (71) --
Dividends paid 216 250 110 55
Other items -- -- -- --
Net in cash 5,597 6,197 4,297 3,756
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Equity capital 240 250 200 200
Preference capital -- -- -- --
Reserves 2,152 2,383 2,222 2,014
Net worth 2,392 2,633 2,422 2,214
Minority interest
Debt 36.60 47.50 47.60 55.30
Deferred tax liabilities (net) 52.30 51.50 48.30 45.80
Total liabilities 2,569 2,814 2,590 2,372
Fixed assets 600 595 482 404
Intangible assets
Investments 289 261 141 133
Deferred tax asset (net) 79.40 80.30 120 98.90
Net working capital (1,762) (1,735) (1,660) (1,860)
Inventories 290 19.20 105 9.38
Inventory Days 56.80 2.84 -- 2.28
Sundry debtors 584 844 610 468
Debtor days 115 124 -- 114
Other current assets 684 583 510 507
Sundry creditors (237) (136) (199) (77)
Creditor days 46.50 20 -- 18.70
Other current liabilities (3,083) (3,045) (2,686) (2,767)
Cash 3,363 3,613 3,506 3,596
Total assets 2,569 2,814 2,590 2,372
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Particulars ( Rupees In Crores.) Mar-2021 Mar-2020 Mar-2019 Mar-2018 Mar-2017
Gross Sales 1,860 2,474 2,047 1,497 1,351
Excise Duty -- -- -- -- --
Net Sales 1,860 2,474 2,047 1,497 1,351
Other Operating Income -- -- -- -- --
Other Income 147 268 200 154 210
Total Income 2,006 2,742 2,248 1,651 1,561
Total Expenditure ** 1,356 1,814 1,471 1,085 1,007
PBIDT 650 929 776 566 554
Interest 6.01 6.92 8.01 11.30 11.70
PBDT 644 922 768 555 543
Depreciation 51.90 47.30 38.40 36.30 38.30
Minority Interest Before NP -- -- -- -- --
Tax 147 198 259 187 155
Deferred Tax 1.79 43.10 (19) (25) 12.10
Reported Profit After Tax 444 633 490 357 337
Minority Interest After NP 11.80 17.20 20.30 14.10 --
Net Profit after Minority Interest 432 616 470 342 337
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 432 616 470 342 337
EPS (Unit Curr.) 17.50 24.60 18.80 17.10 16.40
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 130 160 128 55 66.50
Equity 240 250 200 200 200
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(%) 35 37.50 37.90 37.80 41
PBDTM(%) 34.70 37.20 37.50 37.10 40.20
PATM(%) 23.90 25.60 23.90 23.80 24.90
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