Steel Authority of India Financial Statements

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Y/e 31 Mar Mar-2018 Mar-2017 Mar-2016 Mar-2015
Growth matrix (%)        
Revenue growth 30.10 14 (16) (1.80)
Op profit growth 6,810 (102) (160) 14.70
EBIT growth (215) (59) (224) 22
Net profit growth (90) (34) (305) (23)
Profitability ratios (%)        
OPM 8.06 0.15 (7.50) 10.40
EBIT margin 3.95 (4.50) (12) 8.43
Net profit margin (0.50) (6.20) (11) 4.41
RoCE 2.59 (2.40) (6) 5.12
RoNW (0.20) (1.80) (2.50) 1.17
RoA (0.10) (0.80) (1.30) 0.67
Per share ratios ()        
EPS -- -- -- 4.26
Dividend per share -- -- -- 2
Cash EPS (8.10) (13) (16) 0.31
Book value per share 89.40 89.70 97.20 106
Valuation ratios        
P/E -- -- -- 16
P/CEPS (8.70) (4.60) (2.70) 220
P/B 0.78 0.68 0.44 0.64
EV/EBIDTA 13.90 93.30 (22) 9.96
Payout (%)        
Dividend payout -- -- -- 49.30
Tax payout (44) (44) (41) (13)
Liquidity ratios        
Debtor days 21.60 25.10 30.10 34.60
Inventory days 106 128 156 134
Creditor days (66) (57) (53) (48)
Leverage ratios        
Interest coverage (0.80) 0.78 2.09 (2.50)
Net debt / equity 1.22 1.11 0.87 0.67
Net debt / op. profit 9.72 611 (12) 6.13
Cost breakup ()        
Material costs (48) (48) (46) (39)
Employee costs (15) (20) (25) (21)
Other costs (28) (31) (37) (29)
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Y/e 31 Mar( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Revenue 57,496 44,210 38,793 46,103
yoy growth (%) 30.10 14 (16) (1.80)
Raw materials (27,877) (21,279) (17,723) (17,996)
As % of sales 48.50 48.10 45.70 39
Employee costs (8,866) (8,964) (9,729) (9,900)
As % of sales 15.40 20.30 25.10 21.50
Other costs (16,118) (13,900) (14,244) (13,392)
As % of sales 28 31.40 36.70 29
Operating profit 4,636 67.10 (2,903) 4,815
OPM 8.06 0.15 (7.50) 10.40
Depreciation (3,066) (2,682) (2,404) (1,907)
Interest expense (2,823) (2,528) (2,300) (1,555)
Other income 700 643 493 981
Profit before tax (553) (4,499) (7,114) 2,333
Taxes 245 1,960 2,938 (306)
Tax rate (44) (44) (41) (13)
Minorities and other -- -- -- 96.40
Adj. profit (308) (2,539) (4,177) 2,124
Exceptional items 26.40 (217) -- (89)
Net profit (281) (2,756) (4,177) 2,035
yoy growth (%) (90) (34) (305) (23)
NPM (0.50) (6.20) (11) 4.41
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Y/e 31 Mar ( In .Cr) Mar-2018 Mar-2017 Mar-2016 Mar-2015
Profit before tax (553) (4,499) (7,114) 2,333
Depreciation (3,066) (2,682) (2,404) (1,907)
Tax paid 245 1,960 2,938 (306)
Working capital (21,108) (12,669) (10,321) (247)
Other operating items -- -- -- --
Operating cashflow (24,482) (17,890) (16,902) (127)
Capital expenditure 55,104 40,492 32,645 14,647
Free cash flow 30,622 22,602 15,743 14,520
Equity raised 66,580 71,815 77,711 77,585
Investments 2,568 2,407 2,207 (31)
Debt financing/disposal 40,715 42,037 38,683 33,517
Dividends paid -- -- -- 826
Other items -- -- -- --
Net in cash 140,485 138,861 134,344 126,417
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Equity capital 4,131 4,131 4,131 4,131
Preference capital -- -- -- --
Reserves 35,516 32,816 32,912 36,021
Net worth 39,646 36,947 37,042 40,151
Minority interest
Debt 45,170 45,409 41,396 35,141
Deferred tax liabilities (net) 9,107 7,983 6,600 5,201
Total liabilities 93,923 90,339 85,038 80,494
Fixed assets 77,388 77,021 73,576 70,869
Intangible assets
Investments 2,975 2,629 2,475 2,280
Deferred tax asset (net) 11,974 12,145 10,449 6,871
Net working capital 1,299 (1,802) (1,841) 128
Inventories 19,759 17,277 15,964 14,932
Inventory Days -- 110 132 140
Sundry debtors 4,497 3,871 2,935 3,151
Debtor days -- 24.60 24.20 29.70
Other current assets 10,427 10,388 8,666 8,278
Sundry creditors (10,831) (11,236) (7,751) (6,032)
Creditor days -- 71.30 64 56.80
Other current liabilities (22,555) (22,103) (21,654) (20,201)
Cash 288 346 379 346
Total assets 93,923 90,339 85,038 80,494
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Particulars ( Rupees In Crores.) Jun-2020 Mar-2020 Dec-2019 Sep-2019 Jun-2019
Gross Sales 9,068 16,172 16,542 14,129 14,821
Excise Duty -- -- -- -- --
Net Sales 9,068 16,172 16,542 14,129 14,821
Other Operating Income -- -- -- -- --
Other Income 327 403 271 221 223
Total Income 9,395 16,575 16,814 14,350 15,044
Total Expenditure ** 9,465 10,508 15,537 12,961 13,232
PBIDT (70) 6,067 1,277 1,389 1,811
Interest 886 909 849 940 788
PBDT (957) 5,158 428 448 1,023
Depreciation 973 1,055 926 901 873
Minority Interest Before NP -- -- -- -- --
Tax 1.50 35.40 41.80 1.68 2.51
Deferred Tax (705) 1,420 (197) (169) 45.30
Reported Profit After Tax (1,226) 2,648 (344) (286) 103
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (1,226) 2,648 (344) (286) 103
Extra-ordinary Items -- (498) -- -- --
Adjusted Profit After Extra-ordinary item (1,226) 3,146 (344) (286) 103
EPS (Unit Curr.) (3) 6.41 (0.80) (0.70) 0.25
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 4,131 4,131 4,131 4,131 4,131
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(%) (0.80) 37.50 7.72 9.83 12.20
PBDTM(%) (11) 31.90 2.58 3.17 6.90
PATM(%) (14) 16.40 (2.10) (2) 0.69