Shivalik Bimetal Controls Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2019 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth (3.20) 22.50 33 9.19
Op profit growth (42) 38.60 35 36.60
EBIT growth (47) 43.30 54.70 58.70
Net profit growth (45) 49 101 147
Profitability ratios (%)        
OPM 11.10 18.40 16.20 16
EBIT margin 10.20 18.70 15.90 13.70
Net profit margin 7.19 12.70 10.50 6.92
RoCE 12.80 25.80 22.10 15.60
RoNW 3.06 6.56 5.46 3.33
RoA 2.24 4.40 3.63 1.97
Per share ratios ()        
EPS 3.50 6.41 4.30 4.23
Dividend per share 0.30 0.60 0.60 0.50
Cash EPS 1.94 5.15 3.10 1.92
Book value per share 30 27.30 21.60 35.60
Valuation ratios        
P/E 6.11 21.60 26.20 7.51
P/CEPS 11 26.90 36.30 16.60
P/B 0.71 5.07 5.22 0.89
EV/EBIDTA 4.24 14.10 15.70 7.18
Payout (%)        
Dividend payout 8.55 4.67 13.90 7.06
Tax payout (23) (30) (28) (40)
Liquidity ratios        
Debtor days 63.90 64.30 69.40 81.10
Inventory days 117 104 77.10 81
Creditor days (29) (37) (35) (30)
Leverage ratios        
Interest coverage (6.50) (10) (7.60) (6.40)
Net debt / equity 0.21 0.42 0.43 0.40
Net debt / op. profit 1.18 1.25 1.39 1.45
Cost breakup ()        
Material costs (57) (50) (52) (52)
Employee costs (11) (8.70) (9.20) (10)
Other costs (21) (23) (23) (21)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Revenue 187 193 158 119
yoy growth (%) (3.20) 22.50 33 9.19
Raw materials (107) (96) (82) (62)
As % of sales 57.20 49.60 51.70 52.30
Employee costs (20) (17) (14) (12)
As % of sales 10.70 8.75 9.17 10.50
Other costs (39) (45) (36) (25)
As % of sales 21 23.30 22.90 21.30
Operating profit 20.70 35.50 25.60 19
OPM 11.10 18.40 16.20 16
Depreciation (6) (4.80) (4.60) (4.50)
Interest expense (2.90) (3.60) (3.30) (2.50)
Other income 4.41 5.39 4.15 1.82
Profit before tax 16.20 32.50 21.90 13.70
Taxes (3.70) (9.80) (6.10) (5.50)
Tax rate (23) (30) (28) (40)
Minorities and other -- -- -- --
Adj. profit 12.50 22.70 15.80 8.25
Exceptional items 0.26 -- -- --
Net profit 13.50 24.60 16.50 8.22
yoy growth (%) (45) 49 101 147
NPM 7.19 12.70 10.50 6.92
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Profit before tax 16.20 32.50 21.90 13.70
Depreciation (6) (4.80) (4.60) (4.50)
Tax paid (3.70) (9.80) (6.10) (5.50)
Working capital 20.50 46.80 -- (47)
Other operating items -- -- -- --
Operating cashflow 27 64.60 11.20 (43)
Capital expenditure 6.24 8.79 -- (8.80)
Free cash flow 33.20 73.40 11.20 (52)
Equity raised 150 142 136 150
Investments 10.50 3.67 -- (3.70)
Debt financing/disposal (4.80) 29.40 23.10 5.35
Dividends paid 1.15 1.15 2.30 0.48
Other items -- -- -- --
Net in cash 190 250 173 100
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 7.68 7.68 7.68 3.84
Preference capital -- -- -- --
Reserves 108 97.10 75.30 64.60
Net worth 115 105 83 68.40
Minority interest
Debt 24.90 44.80 35.90 28.60
Deferred tax liabilities (net) 4.74 5.74 5.47 6.31
Total liabilities 145 155 124 103
Fixed assets 63 51.30 49.90 47.60
Intangible assets
Investments 11.30 10.70 7.75 6.99
Deferred tax asset (net) 0.19 0.19 0.16 2.07
Net working capital 70 92.70 66.20 45.60
Inventories 50.50 69.30 40.60 26.10
Inventory Days 98.50 131 93.90 80.20
Sundry debtors 31 34.60 33.60 26.40
Debtor days 60.30 65.30 77.70 81.30
Other current assets 6.50 10.20 14.70 7.37
Sundry creditors (12) (15) (17) (8.20)
Creditor days 23.20 27.60 40.20 25.10
Other current liabilities (6.10) (6.70) (5.30) (6.10)
Cash 0.42 0.49 0.35 1.09
Total assets 145 155 124 103
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2011 Mar-2010 Mar-2009
Gross Sales 187 193 101 80.90 81.30
Excise Duty -- -- 6.27 4.70 --
Net Sales 187 193 94.90 76.20 81.30
Other Operating Income -- -- 0.07 0.02 0.02
Other Income 5.36 7.34 2.15 0.98 (1.10)
Total Income 193 201 97.10 77.20 80.20
Total Expenditure ** 166 158 84.90 65.90 70.60
PBIDT 26.10 42.90 12.20 11.40 9.61
Interest 2.94 3.58 4.25 3.11 3.24
PBDT 23.20 39.30 7.95 8.27 6.37
Depreciation 6.01 4.85 2.68 1.78 1.61
Minority Interest Before NP -- -- -- -- --
Tax 4.63 9.59 1.72 1.31 0.19
Deferred Tax (0.90) 0.24 -- -- --
Reported Profit After Tax 13.50 24.60 3.55 5.18 4.57
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 13.50 24.60 3.55 5.18 4.57
Extra-ordinary Items 0.19 -- 0.03 0.03 (0.40)
Adjusted Profit After Extra-ordinary item 13.30 24.60 3.52 5.15 5.01
EPS (Unit Curr.) 3.44 6.40 1.85 2.70 2.38
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 15 30 -- -- 22.50
Equity 7.68 7.68 3.84 3.84 3.84
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(%) 13.90 22.20 12.90 14.90 11.80
PBDTM(%) 12.40 20.30 8.38 10.80 7.84
PATM(%) 7.18 12.70 3.74 6.79 5.62