Sobha Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 34.90 24.90 14.70 (20)
Op profit growth 115 23.80 (5.20) (28)
EBIT growth 116 26.40 (3.10) (25)
Net profit growth 29.90 34.90 16.40 (42)
Profitability ratios (%)        
OPM 29.70 18.70 18.80 22.80
EBIT margin 29.70 18.50 18.30 21.60
Net profit margin 7.50 7.79 7.21 7.11
RoCE 20.40 9.81 8.03 8.69
RoNW 2.71 2 1.54 1.38
RoA 1.29 1.03 0.79 0.71
Per share ratios ()        
EPS 29.70 22.90 16.70 14.10
Dividend per share 7 7 2.50 2
Cash EPS 22.10 17.10 10.10 7.99
Book value per share 256 292 275 262
Valuation ratios        
P/E 4.56 22.20 20.50 19.40
P/CEPS 6.13 29.70 34 34.20
P/B 0.53 1.74 1.25 1.04
EV/EBIDTA 3.64 12.30 11.40 9.87
Payout (%)        
Dividend payout -- 30.60 15 14.20
Tax payout (35) (32) (38) (46)
Liquidity ratios        
Debtor days 33.40 36.30 39.20 40
Inventory days 561 651 766 657
Creditor days (116) (120) (110) (98)
Leverage ratios        
Interest coverage (1.60) (2.60) (2.70) (2.60)
Net debt / equity 1.25 0.80 0.78 0.80
Net debt / op. profit 2.73 4.26 4.94 4.65
Cost breakup ()        
Material costs 1.09 (12) 24.50 24.20
Employee costs (6.60) (7.10) (8) (9.10)
Other costs (65) (62) (98) (92)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 3,754 2,783 2,229 1,943
yoy growth (%) 34.90 24.90 14.70 (20)
Raw materials 41.10 (334) 546 470
As % of sales 1.09 12 24.50 24.20
Employee costs (246) (198) (178) (176)
As % of sales 6.56 7.13 7.98 9.07
Other costs (2,433) (1,731) (2,177) (1,794)
As % of sales 64.80 62.20 97.70 92.30
Operating profit 1,115 520 420 443
OPM 29.70 18.70 18.80 22.80
Depreciation (72) (54) (64) (60)
Interest expense (682) (198) (150) (164)
Other income 71.80 49.60 51.50 37.30
Profit before tax 433 317 258 257
Taxes (151) (100) (97) (119)
Tax rate (35) (32) (38) (46)
Minorities and other -- -- -- --
Adj. profit 282 217 161 138
Exceptional items -- -- -- --
Net profit 282 217 161 138
yoy growth (%) 29.90 34.90 16.40 (42)
NPM 7.50 7.79 7.21 7.11
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 433 317 258 257
Depreciation (72) (54) (64) (60)
Tax paid (151) (100) (97) (119)
Working capital 1,548 1,685 1,200 864
Other operating items -- -- -- --
Operating cashflow 1,758 1,847 1,297 943
Capital expenditure 863 259 143 (171)
Free cash flow 2,621 2,106 1,440 772
Equity raised 3,804 4,423 4,448 4,542
Investments 111 112 (0.20) 229
Debt financing/disposal 1,906 1,105 919 856
Dividends paid -- 66.40 24.10 19.60
Other items -- -- -- --
Net in cash 8,441 7,812 6,831 6,418
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 94.90 94.90 94.90 96.30
Preference capital -- -- -- --
Reserves 2,336 2,134 2,675 2,548
Net worth 2,431 2,229 2,770 2,644
Minority interest
Debt 3,131 2,604 2,331 2,222
Deferred tax liabilities (net) 31.10 7.40 252 277
Total liabilities 5,593 4,840 5,353 5,144
Fixed assets 919 678 610 595
Intangible assets
Investments 114 113 112 0.02
Deferred tax asset (net) 2.06 101 -- 49
Net working capital 4,469 3,772 4,511 4,353
Inventories 6,704 6,517 4,835 5,096
Inventory Days 652 -- 634 834
Sundry debtors 360 327 327 227
Debtor days 35 -- 42.90 37.10
Other current assets 2,823 2,834 3,021 2,828
Sundry creditors (958) (1,137) (722) (770)
Creditor days 93.10 -- 94.80 126
Other current liabilities (4,461) (4,770) (2,949) (3,028)
Cash 88.40 177 119 147
Total assets 5,593 4,840 5,353 5,144
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Particulars ( Rupees In Crores.) Jun-2020 Mar-2020 Dec-2019 Sep-2019 Jun-2019
Gross Sales 350 910 883 784 1,177
Excise Duty -- -- -- -- --
Net Sales 350 910 883 784 1,177
Other Operating Income -- -- -- -- --
Other Income 9.30 17.50 18 19.90 16.40
Total Income 359 928 901 804 1,193
Total Expenditure ** 157 656 597 527 949
PBIDT 203 272 305 277 244
Interest 178 172 170 167 84
PBDT 24.30 100 135 111 160
Depreciation 18.90 18.80 18.20 17.80 17.50
Minority Interest Before NP -- -- -- -- --
Tax 11.30 25.90 5 3.30 11
Deferred Tax (13) 4.80 38.20 22.50 40.80
Reported Profit After Tax 6.60 50.70 73.20 67 90.60
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 6.60 50.70 73.20 67 90.60
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 6.60 50.70 73.20 67 90.60
EPS (Unit Curr.) 0.70 5.35 7.72 7.07 9.55
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 94.80 94.80 94.80 94.80 94.80
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(%) 57.90 29.90 34.50 35.40 20.70
PBDTM(%) 6.94 11 15.20 14.10 13.60
PATM(%) 1.89 5.57 8.29 8.55 7.70