SRS Financial Statements

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Y/e 31 Mar Mar-2017 Mar-2016 Mar-2015 Mar-2014
Growth matrix (%)        
Revenue growth (97) 5.84 13.10 51.70
Op profit growth (113) 2.85 25.30 1.43
EBIT growth (125) 4.01 17.80 5.91
Net profit growth (580) (4.60) (3.30) (3.60)
Profitability ratios (%)        
OPM (14) 3.43 3.53 3.18
EBIT margin (24) 3.08 3.14 3.02
Net profit margin (145) 0.96 1.06 1.24
RoCE (2.30) 9.57 10.40 10.20
RoNW (8.20) 1.51 1.69 1.90
RoA (3.40) 0.74 0.88 1.05
Per share ratios ()        
EPS -- 1.41 2.97 3.07
Dividend per share -- -- -- --
Cash EPS (7.30) 0.73 1.47 2.05
Book value per share 17.30 24.10 45.30 42.60
Valuation ratios        
P/E -- 9.09 3.72 5.53
P/CEPS (0.60) 17.60 7.53 8.29
P/B 0.25 0.53 0.24 0.40
EV/EBIDTA (61) 6.89 5.69 7.02
Payout (%)        
Dividend payout -- -- -- --
Tax payout (107) (6.90) (20) (15)
Liquidity ratios        
Debtor days 2,785 75.60 82.10 70.10
Inventory days 1,102 41.70 29.40 23.20
Creditor days (819) (37) (38) (25)
Leverage ratios        
Interest coverage 2.53 (1.50) (1.70) (2)
Net debt / equity 1.82 0.97 0.80 0.60
Net debt / op. profit (49) 4.61 3.68 3.25
Cost breakup ()        
Material costs (23) (92) (93) (93)
Employee costs (14) (0.90) (0.90) (0.90)
Other costs (78) (3.40) (3) (3)
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Y/e 31 Mar( In .Cr) Mar-2017 Mar-2016 Mar-2015 Mar-2014
Revenue 131 4,118 3,891 3,439
yoy growth (%) (97) 5.84 13.10 51.70
Raw materials (29) (3,798) (3,602) (3,197)
As % of sales 22.50 92.20 92.60 93
Employee costs (18) (38) (34) (29)
As % of sales 13.50 0.92 0.87 0.85
Other costs (102) (141) (118) (103)
As % of sales 77.80 3.43 3.04 3
Operating profit (18) 141 137 109
OPM (14) 3.43 3.53 3.18
Depreciation (15) (19) (21) (14)
Interest expense (12) (85) (71) (53)
Other income 1.68 5.12 5.86 8.45
Profit before tax (44) 42.30 51.50 50.60
Taxes 46.90 (2.90) (10) (7.80)
Tax rate (107) (6.90) (20) (15)
Minorities and other (192) 0.02 -- --
Adj. profit (189) 39.40 41.30 42.80
Exceptional items -- -- -- --
Net profit (189) 39.40 41.30 42.80
yoy growth (%) (580) (4.60) (3.30) (3.60)
NPM (145) 0.96 1.06 1.24
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Y/e 31 Mar ( In .Cr) Mar-2017 Mar-2016 Mar-2015 Mar-2014
Profit before tax (44) 42.30 51.50 50.60
Depreciation (15) (19) (21) (14)
Tax paid 46.90 (2.90) (10) (7.80)
Working capital 722 481 162 (162)
Other operating items -- -- -- --
Operating cashflow 709 502 182 (134)
Capital expenditure 60.80 64.70 11.70 (12)
Free cash flow 770 566 194 (145)
Equity raised 777 886 904 903
Investments 0.01 0.05 0.25 (0.30)
Debt financing/disposal 597 340 186 56.60
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 2,144 1,793 1,284 814
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Equity capital 279 279 279 279
Preference capital -- -- -- --
Reserves (1,319) (1,261) 203 392
Net worth (1,040) (982) 481 670
Minority interest
Debt 916 908 884 717
Deferred tax liabilities (net) 1.23 3.74 16.10 16.90
Total liabilities (123) (70) 1,382 1,404
Fixed assets 137 171 222 236
Intangible assets
Investments 0.11 0.01 0.01 0.05
Deferred tax asset (net) 0.63 1.38 55.20 9.10
Net working capital (273) (247) 1,096 1,092
Inventories 0.60 0.56 208 581
Inventory Days -- -- 581 51.50
Sundry debtors 5.73 3.77 1,178 817
Debtor days -- -- 3,290 72.40
Other current assets 30.50 30.10 35.60 181
Sundry creditors (25) (31) (213) (455)
Creditor days -- -- 595 40.30
Other current liabilities (285) (250) (113) (32)
Cash 12.70 4 8.71 66.50
Total assets (123) (70) 1,382 1,404
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Particulars ( Rupees In Crores.) Dec-2019 Dec-2018 Dec-2015 - -
Gross Sales 84.20 79.10 3,598 -- --
Excise Duty -- -- -- -- --
Net Sales 84.20 79.10 3,598 -- --
Other Operating Income -- -- -- -- --
Other Income 1.14 2.26 3.55 -- --
Total Income 85.30 81.40 3,601 -- --
Total Expenditure ** 65.50 77.40 3,459 -- --
PBIDT 19.80 3.95 142 -- --
Interest 239 53.20 59.90 -- --
PBDT (219) (49) 82.40 -- --
Depreciation 13.10 7.98 14.30 -- --
Minority Interest Before NP -- -- -- -- --
Tax 0.05 -- 10.40 -- --
Deferred Tax 0.05 2.71 -- -- --
Reported Profit After Tax (232) (60) 57.70 -- --
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (232) (60) 57.70 -- --
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item (232) (60) 57.70 -- --
EPS (Unit Curr.) (8.30) (2.20) 2.07 -- --
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 279 279 279 -- --
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(%) 23.50 4.99 3.95 -- --
PBDTM(%) (260) (62) 2.29 -- --
PATM(%) (276) (76) 1.60 -- --