Shirpur Gold Refinery Financial Statements

Shirpur Gold Refinery Nine Monthly Results

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth (33) 7.08 25.30 22.60
Op profit growth (263) 41.80 (45) (7.50)
EBIT growth (277) 21 (42) (1.60)
Net profit growth (1,081) 443 (48) (67)
Profitability ratios (%)        
OPM (2.60) 1.06 0.80 1.84
EBIT margin (2.50) 0.93 0.82 1.76
Net profit margin (4) 0.27 0.05 0.13
RoCE (12) 5.94 4.28 9.76
RoNW (12) 1.09 0.21 0.44
RoA (4.70) 0.43 0.07 0.18
Per share ratios ()        
EPS (48) 4.92 0.91 1.73
Dividend per share -- -- -- --
Cash EPS (51) 2.52 (1.80) (0.60)
Book value per share 77.40 116 110 109
Valuation ratios        
P/E (0.10) 25.30 110 43.70
P/CEPS (0.10) 49.30 (55) (130)
P/B 0.08 1.07 0.91 0.70
EV/EBIDTA (6.50) 12.60 16.70 10.50
Payout (%)        
Dividend payout -- -- -- --
Tax payout -- (12) (56) (57)
Liquidity ratios        
Debtor days 50.70 37.90 35.90 33.90
Inventory days 2.40 2.44 6.35 10.20
Creditor days (8.90) (8.40) (8.10) (29)
Leverage ratios        
Interest coverage 1.63 (1.50) (1.20) (1.20)
Net debt / equity 2.25 1.03 1.60 1.83
Net debt / op. profit (5.50) 6.16 13 7.98
Cost breakup ()        
Material costs (99) (99) (99) (97)
Employee costs (0.10) (0.10) (0.10) (0.20)
Other costs (3.10) (0.20) (0.30) (0.50)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 3,555 5,297 4,947 3,949
yoy growth (%) (33) 7.08 25.30 22.60
Raw materials (3,533) (5,228) (4,886) (3,848)
As % of sales 99.40 98.70 98.80 97.50
Employee costs (3.10) (4.20) (7.20) (9.40)
As % of sales 0.09 0.08 0.15 0.24
Other costs (111) (8.60) (14) (19)
As % of sales 3.11 0.16 0.29 0.48
Operating profit (91) 56.10 39.60 72.50
OPM (2.60) 1.06 0.80 1.84
Depreciation (6.70) (7) (7.90) (6.70)
Interest expense (53) (33) (35) (58)
Other income 11 -- 8.92 3.85
Profit before tax (141) 16.30 5.96 11.70
Taxes -- (2) (3.30) (6.70)
Tax rate -- (12) (56) (57)
Minorities and other -- -- -- --
Adj. profit (141) 14.30 2.64 5.04
Exceptional items -- -- -- --
Net profit (141) 14.30 2.64 5.04
yoy growth (%) (1,081) 443 (48) (67)
NPM (4) 0.27 0.05 0.13
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax (141) 16.30 5.96 11.70
Depreciation (6.70) (7) (7.90) (6.70)
Tax paid -- (2) (3.30) (6.70)
Working capital 442 345 479 --
Other operating items -- -- -- --
Operating cashflow 295 353 474 (1.70)
Capital expenditure 59.90 51.10 5.11 --
Free cash flow 354 404 479 (1.70)
Equity raised 543 507 521 570
Investments -- -- -- --
Debt financing/disposal 587 434 621 120
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 1,485 1,345 1,621 689
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Equity capital 29.10 29.10 29.10 29.10
Preference capital -- -- -- --
Reserves (52) 196 331 308
Net worth (23) 225 360 337
Minority interest
Debt 510 523 576 400
Deferred tax liabilities (net) -- -- 0.47 0.94
Total liabilities 488 748 937 737
Fixed assets 189 197 200 204
Intangible assets
Investments 0.02 0.02 0.03 0.03
Deferred tax asset (net) 46.10 46.10 46.60 47.50
Net working capital 228 489 609 432
Inventories 0.72 1.44 36.60 45.30
Inventory Days -- 0.15 -- 3.12
Sundry debtors 316 581 481 407
Debtor days -- 59.60 -- 28.10
Other current assets 40.70 38.30 140 49.90
Sundry creditors (69) (109) (45) (68)
Creditor days -- 11.20 -- 4.68
Other current liabilities (60) (23) (3.20) (2.60)
Cash 24.10 15.80 81.20 53.90
Total assets 488 748 937 737
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Particulars ( Rupees In Crores.) Dec-2020 Dec-2019 Dec-2018 Dec-2017 Dec-2016
Gross Sales 7,211 2,936 6,326 3,946 3,354
Excise Duty -- -- -- -- --
Net Sales 7,211 2,936 6,326 3,946 3,354
Other Operating Income -- -- -- -- --
Other Income 5.78 5.33 -- -- 8.41
Total Income 7,217 2,941 6,326 3,946 3,363
Total Expenditure ** 7,362 2,980 6,284 3,907 3,331
PBIDT (145) (39) 41.70 39.30 32.10
Interest 34.60 39.40 23.10 24 24.10
PBDT (180) (78) 18.60 15.40 8
Depreciation 4.77 5.14 5.27 5.27 5.58
Minority Interest Before NP -- -- -- -- --
Tax -- -- 0.58 0.53 1.26
Deferred Tax -- -- -- -- --
Reported Profit After Tax (185) (84) 12.70 9.56 1.17
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (185) (84) 12.70 9.56 1.17
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item (185) (84) 12.70 9.56 1.17
EPS (Unit Curr.) (63) (29) 4.36 3.28 0.40
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 29.10 29.10 29.10 29.10 29.10
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(%) (2) (1.30) 0.66 1 0.96
PBDTM(%) (2.50) (2.70) 0.29 0.39 0.24
PATM(%) (2.60) (2.80) 0.20 0.24 0.03
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