Southern Ispat & Energy Financial Statements

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Y/e 31 Mar Mar-2015 Mar-2014 Jun-2013 Jun-2012
Growth matrix (%)        
Revenue growth 32.40 (45) (7.30) 24.30
Op profit growth (8.90) (31) 70.10 (41)
EBIT growth (11) (33) 4.50 3.91
Net profit growth (10) (33) 3.47 12.90
Profitability ratios (%)        
OPM 4.04 5.86 4.66 2.54
EBIT margin 3.84 5.72 4.67 4.14
Net profit margin 3.81 5.61 4.60 4.12
RoCE 6.75 8.34 14.40 17.40
RoNW 1.69 2.07 3.60 4.40
RoA 1.68 2.05 3.55 4.32
Per share ratios ()        
EPS 0.19 2.87 3.23 3.12
Dividend per share -- -- -- --
Cash EPS 0.18 2.07 3.10 2.98
Book value per share 3.01 27 24.90 19.90
Valuation ratios        
P/E 0.68 0.05 0.12 0.11
P/CEPS 0.72 0.07 0.13 0.11
P/B 0.04 0.01 0.02 0.02
EV/EBIDTA 0.73 0.76 1.23 (1.30)
Payout (%)        
Dividend payout -- -- -- --
Tax payout 1.25 0.40 0.39 0.40
Liquidity ratios        
Debtor days 199 179 66.60 62.20
Inventory days 0.86 54.50 52.40 34.30
Creditor days (16) (16) (34) (55)
Leverage ratios        
Interest coverage (51) (44) (51) (103)
Net debt / equity 0.01 0.01 0.01 (0.40)
Net debt / op. profit 0.10 0.10 0.07 (4)
Cost breakup ()        
Material costs (95) (93) (95) (96)
Employee costs (0.10) (0.10) (0.10) (0.10)
Other costs (1) (0.90) (0.70) (1.80)
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Y/e 31 Mar( In .Cr) Mar-2015 Mar-2014 Jun-2013 Jun-2012
Revenue 670 506 928 1,001
yoy growth (%) 32.40 (45) (7.30) 24.30
Raw materials (636) (471) (878) (957)
As % of sales 94.90 93.10 94.60 95.60
Employee costs (0.50) (0.50) (0.70) (0.50)
As % of sales 0.07 0.09 0.08 0.05
Other costs (7) (4.70) (6.10) (18)
As % of sales 1.04 0.92 0.66 1.79
Operating profit 27 29.70 43.30 25.40
OPM 4.04 5.86 4.66 2.54
Depreciation (1.50) (1) (1.70) (1.90)
Interest expense (0.50) (0.70) (0.80) (0.40)
Other income 0.22 0.26 1.73 18
Profit before tax 25.20 28.30 42.50 41.10
Taxes 0.31 0.11 0.17 0.16
Tax rate 1.25 0.40 0.39 0.40
Minorities and other -- -- -- --
Adj. profit 25.60 28.40 42.70 41.30
Exceptional items -- -- -- --
Net profit 25.60 28.40 42.70 41.30
yoy growth (%) (10) (33) 3.47 12.90
NPM 3.81 5.61 4.60 4.12
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Y/e 31 Mar ( In .Cr) Mar-2015 Mar-2014 Jun-2013 Jun-2012
Profit before tax 25.20 28.30 42.50 41.10
Depreciation (1.50) (1) (1.70) (1.90)
Tax paid 0.31 0.11 0.17 0.16
Working capital 193 60.50 -- (60)
Other operating items -- -- -- --
Operating cashflow 217 87.90 41 (21)
Capital expenditure 0.81 0.77 -- (0.80)
Free cash flow 218 88.70 41 (22)
Equity raised 313 328 351 315
Investments 3.48 0.41 -- (0.40)
Debt financing/disposal 0.29 0.25 0.70 (0.20)
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 535 417 392 292
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Y/e 31 Mar ( In .Cr) Mar-2015 Mar-2014 Jun-2013 Jun-2012
Equity capital 132 132 132 132
Preference capital -- -- -- --
Reserves 266 225 197 131
Net worth 398 357 329 263
Minority interest
Debt 3.20 3.25 3.35 3
Deferred tax liabilities (net) 0.40 0.80 0.96 1.55
Total liabilities 401 361 333 268
Fixed assets 4.37 5.90 6.88 8.53
Intangible assets
Investments 4.06 0.99 0.99 0.58
Deferred tax asset (net) 0.17 0.26 0.29 0.65
Net working capital 392 354 324 154
Inventories 2.38 0.77 151 116
Inventory Days 1.30 0.56 59.20 42.20
Sundry debtors 414 316 180 159
Debtor days 225 228 70.70 58
Other current assets 18.70 54.50 22.40 19.10
Sundry creditors (39) (15) (26) (138)
Creditor days 21.40 11.10 10.30 50.30
Other current liabilities (3.10) (2.80) (2.10) (2.20)
Cash 0.41 0.43 0.51 104
Total assets 401 361 333 268
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Particulars ( Rupees In Crores.) Dec-2014 Mar-2014 Mar-2013 Mar-2012 Mar-2011
Gross Sales 549 506 736 717 568
Excise Duty -- -- -- -- --
Net Sales 549 506 736 717 568
Other Operating Income -- -- -- -- 0.09
Other Income 0.02 -- -- 0.60 0.14
Total Income 549 506 736 718 569
Total Expenditure ** 524 476 697 681 537
PBIDT 24.80 29.90 39.50 36.90 31.80
Interest 0.38 0.37 0.47 0.40 0.16
PBDT 24.40 29.50 39 36.50 31.70
Depreciation 0.79 0.93 1.14 1.44 1.80
Minority Interest Before NP -- -- -- -- --
Tax 0.05 0.06 0.14 0.10 2.64
Deferred Tax -- -- -- -- --
Reported Profit After Tax 23.60 28.50 37.70 34.90 27.20
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 23.60 28.50 37.70 34.90 27.20
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 23.60 28.50 37.70 34.90 27.20
EPS (Unit Curr.) 0.18 2.16 2.85 2.64 6.23
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 132 132 132 132 43.80
Public Shareholding (Number) 1,313,803,904 131,380,392 130,158,800 130,307,048 41,907,296
Public Shareholding (%) 99.40 99.40 98.50 98.60 95.80
Pledged/Encumbered - No. of Shares -- -- -- 870,500 870,500
Pledged/Encumbered - % in Total Promoters Holding -- -- -- 47.30 47.30
Pledged/Encumbered - % in Total Equity -- -- -- 0.68 1.99
Non Encumbered - No. of Shares 7,686,850 768,685 1,990,278 971,535 971,701
Non Encumbered - % in Total Promoters Holding 100 100 100 52.70 52.70
Non Encumbered - % in Total Equity 0.58 0.58 1.51 0.73 2.22
PBIDTM(%) 4.51 5.90 5.36 5.14 5.60
PBDTM(%) 4.45 5.83 5.29 5.08 5.57
PATM(%) 4.29 5.63 5.12 4.87 4.79