Sat Industries Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 129 7.60 (0.60) 930
Op profit growth 83.20 120 2,105 (101)
EBIT growth 38.90 124 (20,162) (100)
Net profit growth (63) (66) (1,154) (89)
Profitability ratios (%)        
OPM 7.04 8.81 4.30 0.19
EBIT margin 6.28 10.40 4.98 --
Net profit margin 1.16 7.10 22.80 (2.20)
RoCE 7.61 8.45 6.17 (0.10)
RoNW 0.49 1.80 9.85 (4.50)
RoA 0.35 1.45 7.07 (1.90)
Per share ratios ()        
EPS 0.24 0.65 2.13 --
Dividend per share -- 0.10 -- --
Cash EPS (0.20) 0.54 2.01 (0.50)
Book value per share 14.10 9.79 9.05 3.05
Valuation ratios        
P/E 70 56.20 11.50 --
P/CEPS (71) 67.70 12.20 (17)
P/B 1.19 3.73 2.71 2.95
EV/EBIDTA 13.10 36.50 39.70 66.30
Payout (%)        
Dividend payout -- 15.50 -- --
Tax payout 11.40 (13) (22) 13.70
Liquidity ratios        
Debtor days 54.50 112 165 75.90
Inventory days 36.70 27.90 22.70 8.63
Creditor days (48) (77) (138) (76)
Leverage ratios        
Interest coverage (1.30) (5.40) (3.70) 0.02
Net debt / equity 0.40 0.18 (0.20) 0.96
Net debt / op. profit 4.05 2.25 (3.90) 91.70
Cost breakup ()        
Material costs (68) (80) (83) (87)
Employee costs (7.10) (2.60) (2.30) (2)
Other costs (18) (9) (10) (11)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 225 98.30 91.40 92
yoy growth (%) 129 7.60 (0.60) 930
Raw materials (154) (78) (76) (80)
As % of sales 68.30 79.50 83 86.70
Employee costs (16) (2.60) (2.10) (1.80)
As % of sales 7.07 2.63 2.27 2
Other costs (40) (8.90) (9.50) (10)
As % of sales 17.60 9.04 10.40 11.10
Operating profit 15.90 8.66 3.93 0.18
OPM 7.04 8.81 4.30 0.19
Depreciation (5.30) (1.20) (1.10) (1)
Interest expense (10) (1.90) (1.20) (1.50)
Other income 3.57 2.68 1.73 0.83
Profit before tax 3.66 8.31 3.31 (1.50)
Taxes 0.42 (1.10) (0.70) (0.20)
Tax rate 11.40 (13) (22) 13.70
Minorities and other (0.10) -- -- (0.20)
Adj. profit 3.99 7.20 2.59 (1.90)
Exceptional items -- (0.20) 18.20 (0.10)
Net profit 2.61 6.98 20.80 (2)
yoy growth (%) (63) (66) (1,154) (89)
NPM 1.16 7.10 22.80 (2.20)
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 3.66 8.31 3.31 (1.50)
Depreciation (5.30) (1.20) (1.10) (1)
Tax paid 0.42 (1.10) (0.70) (0.20)
Working capital 68.30 58.20 40.50 (9.40)
Other operating items -- -- -- --
Operating cashflow 67.10 64.20 42 (12)
Capital expenditure 138 33.10 34.50 33.10
Free cash flow 205 97.30 76.50 21
Equity raised 236 121 74.60 25.90
Investments (0.50) 13.90 4.92 3.27
Debt financing/disposal 82.30 37.60 20.90 35.50
Dividends paid -- 1.08 -- --
Other items -- -- -- --
Net in cash 523 271 177 85.60
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 22.60 21.60 21.60 19.60
Preference capital -- -- -- --
Reserves 137 120 84.10 69.10
Net worth 160 141 106 88.70
Minority interest
Debt 71 86 27.90 11.10
Deferred tax liabilities (net) 0.85 2.27 2.03 2.28
Total liabilities 234 246 137 104
Fixed assets 75.10 77.40 28.60 26.90
Intangible assets
Investments 5.77 7.58 13.90 4.92
Deferred tax asset (net) 1.22 1.88 0.27 0.57
Net working capital 145 151 86.20 44.60
Inventories 37.40 31.50 8 7.03
Inventory Days 60.50 -- 29.70 28.10
Sundry debtors 52 52.90 15.30 44.90
Debtor days 84.20 -- 56.60 179
Other current assets 112 110 78.10 21.20
Sundry creditors (45) (40) (10) (28)
Creditor days 73.40 -- 37.40 111
Other current liabilities (11) (3.60) (5.10) (0.80)
Cash 6.80 7.83 8.40 26.60
Total assets 234 246 137 104
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Particulars ( Rupees In Crores.) Jun-2020 Mar-2020 Dec-2019 Sep-2019 Jun-2019
Gross Sales 31.80 47.80 57.70 60 60.30
Excise Duty -- -- -- -- --
Net Sales 31.80 47.80 57.70 60 60.30
Other Operating Income -- -- -- -- --
Other Income 0.01 (0.10) 2.18 0.63 0.26
Total Income 31.80 47.70 59.90 60.60 60.60
Total Expenditure ** 29.80 57.40 49.80 51.80 50.40
PBIDT 2.08 (9.70) 10.10 8.84 10.20
Interest 1.77 2.27 2.28 2.80 3.14
PBDT 0.31 (12) 7.82 6.05 7.04
Depreciation 1.20 1.25 1.40 1.35 1.29
Minority Interest Before NP -- -- -- -- --
Tax 0.17 (2.60) 0.47 0.64 1.09
Deferred Tax -- -- -- -- --
Reported Profit After Tax (1.10) (11) 5.96 4.07 4.66
Minority Interest After NP -- (1.80) 0.72 0.48 0.71
Net Profit after Minority Interest (1.10) (9.40) 4.95 3.35 3.68
Extra-ordinary Items -- -- -- 0.23 --
Adjusted Profit After Extra-ordinary item (1.10) (9.40) 4.95 3.12 3.68
EPS (Unit Curr.) (0.10) (1) 0.55 0.38 0.43
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 22.60 21.60 21.60 21.60 21.60
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(%) 6.54 (20) 17.50 14.70 16.90
PBDTM(%) 0.97 (25) 13.50 10.10 11.70
PATM(%) (3.30) (22) 10.30 6.78 7.72