Sita Shree Food Products Financial Statements

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Y/e 31 Mar Mar-2016 Mar-2015 Mar-2014 Mar-2013
Growth matrix (%)        
Revenue growth 31.10 16.10 128 49.90
Op profit growth (27) 44.70 147 62.80
EBIT growth (24) 46 132 61.60
Net profit growth (141) 68.70 2,486 (95)
Profitability ratios (%)        
OPM 2.93 5.24 4.21 3.88
EBIT margin 2.77 4.78 3.80 3.73
Net profit margin (0.10) 0.43 0.29 0.03
RoCE 7.44 11.60 9.70 6.12
RoNW (0.30) 0.73 0.52 0.03
RoA (0.10) 0.26 0.19 0.01
Per share ratios ()        
EPS -- 0.88 0.52 0.03
Dividend per share -- -- -- --
Cash EPS (2.50) (1.30) (0.60) (0.40)
Book value per share 34.50 30.50 29.60 25.60
Valuation ratios        
P/E -- 22.10 10 152
P/CEPS (3.80) (16) (9.20) (12)
P/B 0.41 0.85 0.24 0.18
EV/EBIDTA 8 6.27 6.42 12.80
Payout (%)        
Dividend payout -- -- -- --
Tax payout (692) (65) (60) (98)
Liquidity ratios        
Debtor days 75.60 52.90 40.50 57
Inventory days 64.30 58.10 44.40 59.80
Creditor days (58) (29) (23) (31)
Leverage ratios        
Interest coverage (1) (1.30) (1.20) (1.40)
Net debt / equity 1.97 1.84 1.53 1.86
Net debt / op. profit 8.51 5.16 6.03 12.40
Cost breakup ()        
Material costs (93) (88) (90) (88)
Employee costs (0.30) (0.50) (0.40) (0.30)
Other costs (3.60) (6) (5.80) (8.10)
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Y/e 31 Mar( In .Cr) Mar-2016 Mar-2015 Mar-2014 Mar-2013
Revenue 757 578 498 218
yoy growth (%) 31.10 16.10 128 49.90
Raw materials (705) (510) (446) (191)
As % of sales 93.20 88.30 89.60 87.70
Employee costs (2.40) (2.70) (2) (0.70)
As % of sales 0.32 0.46 0.41 0.32
Other costs (27) (35) (29) (18)
As % of sales 3.59 6.02 5.75 8.08
Operating profit 22.20 30.30 20.90 8.46
OPM 2.93 5.24 4.21 3.88
Depreciation (5.90) (5.90) (3) (0.90)
Interest expense (21) (21) (15) (5.70)
Other income 4.68 3.24 1 0.55
Profit before tax 0.17 7.04 3.70 2.41
Taxes (1.20) (4.60) (2.20) (2.40)
Tax rate (692) (65) (60) (98)
Minorities and other -- -- -- --
Adj. profit (1) 2.48 1.48 0.06
Exceptional items -- -- -- --
Net profit (1) 2.46 1.46 0.06
yoy growth (%) (141) 68.70 2,486 (95)
NPM (0.10) 0.43 0.29 0.03
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Y/e 31 Mar ( In .Cr) Mar-2016 Mar-2015 Mar-2014 Mar-2013
Profit before tax 0.17 7.04 3.70 2.41
Depreciation (5.90) (5.90) (3) (0.90)
Tax paid (1.20) (4.60) (2.20) (2.40)
Working capital 166 99.20 33.70 (34)
Other operating items -- -- -- --
Operating cashflow 159 95.70 32.10 (35)
Capital expenditure 91.20 89.90 0.94 (0.90)
Free cash flow 250 186 33.10 (35)
Equity raised 101 87.40 93.40 41.30
Investments 0.61 0.27 0.27 (0.30)
Debt financing/disposal 223 157 41.60 (3.10)
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 574 430 168 2.37
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Y/e 31 Mar ( In .Cr) Mar-2016 Mar-2015 Mar-2014 Mar-2013
Equity capital 27.80 27.80 27.80 28.10
Preference capital 33 21 21 --
Reserves 35.20 36.20 33.60 28.40
Net worth 96.10 85 82.50 56.50
Minority interest
Debt 201 166 131 113
Deferred tax liabilities (net) 8.54 7.39 4.31 2.86
Total liabilities 306 258 218 172
Fixed assets 84.70 90 92.30 79.40
Intangible assets
Investments 1.45 1.41 1.41 1.14
Deferred tax asset (net) -- -- -- --
Net working capital 207 157 119 84.10
Inventories 159 108 75.80 45.30
Inventory Days 76.60 68.20 55.60 75.80
Sundry debtors 213 100 67.30 43
Debtor days 103 63.40 49.40 72
Other current assets 10.70 11.20 13.10 33.50
Sundry creditors (173) (59) (29) (32)
Creditor days 83.50 37 21.10 54.40
Other current liabilities (2.40) (3.60) (8.10) (5.30)
Cash 12.30 9.28 4.46 7.43
Total assets 306 258 218 172
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Particulars ( Rupees In Crores.) Jun-2016 Mar-2016 Jun-2015 Mar-2015 Dec-2014
Gross Sales 49.90 263 104 183 157
Excise Duty -- -- -- -- --
Net Sales 49.90 263 104 183 157
Other Operating Income -- 0.59 1.21 0.99 1.57
Other Income -- -- -- -- --
Total Income 49.90 263 105 184 158
Total Expenditure ** 59.10 258 98 170 150
PBIDT (9.20) 5.02 7.34 13.60 7.92
Interest 6.09 7.03 4.66 8.03 4.64
PBDT (15) (2) 2.68 5.55 3.28
Depreciation 1.42 1.47 1.47 3.03 1.03
Minority Interest Before NP -- -- -- -- --
Tax -- (0.70) 0.24 0.59 0.45
Deferred Tax 0.16 1.14 -- 3.08 --
Reported Profit After Tax (17) (3.90) 0.97 (1.10) 1.80
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (17) (3.90) 1.09 (1.10) 1.80
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item (17) (3.90) 1.09 (1.10) 1.80
EPS (Unit Curr.) (6.10) (1.40) 0.35 (0.40) 0.65
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 27.80 27.80 27.80 27.80 27.80
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(%) (18) 1.91 7.05 7.43 5.05
PBDTM(%) (31) (0.80) 2.57 3.04 2.09
PATM(%) (34) (1.50) 0.93 (0.60) 1.15