SSPDL Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth (86) (57) 40.70 (48)
Op profit growth (22) (138) 224 (278)
EBIT growth (16) (131) 129 (238)
Net profit growth 19.60 (171) 44 (182)
Profitability ratios (%)        
OPM (107) (19) 21.80 9.48
EBIT margin (98) (17) 23 14.10
Net profit margin (166) (20) 11.90 11.60
RoCE (8) (8.30) 29.70 15.20
RoNW (7.50) (3.80) 5.26 4.30
RoA (3.40) (2.50) 3.85 3.12
Per share ratios ()        
EPS -- -- 10.50 7.35
Dividend per share -- -- -- --
Cash EPS (9.30) (7.70) 10.10 6.57
Book value per share 13.90 46.10 53.60 45.90
Valuation ratios        
P/E -- -- 7.61 6.74
P/CEPS (2.10) (6.70) 7.91 7.55
P/B 1.40 1.13 1.48 1.08
EV/EBIDTA (11) (14) 4.73 6.61
Payout (%)        
Dividend payout -- -- -- --
Tax payout (7.20) (22) (40) 19.90
Liquidity ratios        
Debtor days 1,684 326 122 132
Inventory days 4,561 444 185 262
Creditor days (561) (95) (55) (44)
Leverage ratios        
Interest coverage 1.21 1.90 (7.40) (3.30)
Net debt / equity 2.51 0.66 0.34 0.29
Net debt / op. profit (6.10) (4.10) 0.94 2.27
Cost breakup ()        
Material costs 253 18 (6) 5.19
Employee costs (51) (10) (3.80) (4.70)
Other costs (408) (128) (68) (91)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 6.98 48.70 114 80.80
yoy growth (%) (86) (57) 40.70 (48)
Raw materials 17.70 8.79 (6.80) 4.20
As % of sales 253 18 5.95 5.19
Employee costs (3.60) (4.90) (4.30) (3.80)
As % of sales 51.40 10 3.81 4.73
Other costs (28) (62) (78) (73)
As % of sales 408 128 68.40 91
Operating profit (7.40) (9.50) 24.80 7.65
OPM (107) (19) 21.80 9.48
Depreciation (0.50) (0.30) (0.50) (0.90)
Interest expense (5.60) (4.30) (3.60) (3.50)
Other income 1.07 1.67 1.82 4.67
Profit before tax (12) (12) 22.60 7.93
Taxes 0.90 2.79 (9) 1.58
Tax rate (7.20) (22) (40) 19.90
Minorities and other -- -- -- (0.10)
Adj. profit (12) (9.70) 13.50 9.39
Exceptional items -- -- -- --
Net profit (12) (9.70) 13.50 9.39
yoy growth (%) 19.60 (171) 44 (182)
NPM (166) (20) 11.90 11.60
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax (12) (12) 22.60 7.93
Depreciation (0.50) (0.30) (0.50) (0.90)
Tax paid 0.90 2.79 (9) 1.58
Working capital (81) (5.10) 22.70 10.30
Other operating items -- -- -- --
Operating cashflow (93) (15) 35.70 18.90
Capital expenditure (12) (19) (15) (14)
Free cash flow (105) (34) 21 4.90
Equity raised 87.90 119 89.80 74.60
Investments (21) (18) (15) (9.80)
Debt financing/disposal 62.30 69.80 36.90 28.70
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 24.90 137 132 98.50
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 12.90 12.90 12.90 12.90
Preference capital -- -- -- --
Reserves 4.98 16.60 46.70 56.40
Net worth 17.90 29.50 59.60 69.30
Minority interest
Debt 47.90 47.10 43.10 24.40
Deferred tax liabilities (net) 1.31 -- 0.02 0.23
Total liabilities 67.10 76.60 103 93.90
Fixed assets 1.14 0.72 0.81 0.91
Intangible assets
Investments 3.90 6.17 6.62 8.94
Deferred tax asset (net) 20.90 18.30 9.01 6.43
Net working capital 38.30 47 82.40 76.50
Inventories 111 93.10 63.80 54.80
Inventory Days 5,786 -- 478 176
Sundry debtors 19.30 28.50 45.20 41.90
Debtor days 1,006 -- 339 135
Other current assets 30.50 37.80 58.80 45.70
Sundry creditors (31) (31) (13) (17)
Creditor days 1,613 -- 101 53.70
Other current liabilities (91) (82) (72) (49)
Cash 2.90 4.41 3.89 1.12
Total assets 67.10 76.60 103 93.90
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 6.98 34.60 48.70 114 80.80
Excise Duty -- -- -- -- --
Net Sales 6.98 34.60 48.70 114 80.80
Other Operating Income -- -- -- -- --
Other Income 1.07 0.71 1.67 1.82 4.67
Total Income 8.05 35.30 50.40 115 85.40
Total Expenditure ** 14.40 58.10 58.20 88.80 73.10
PBIDT (6.40) (23) (7.80) 26.60 12.30
Interest 5.64 5.05 4.30 3.55 3.49
PBDT (12) (28) (12) 23.10 8.83
Depreciation 0.45 0.12 0.35 0.51 0.90
Minority Interest Before NP -- -- -- -- --
Tax (0.90) -- -- 5.74 0.05
Deferred Tax -- (6) (2.80) 3.30 (1.60)
Reported Profit After Tax (12) (22) (9.70) 13.50 9.51
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (12) (22) (9.70) 13.50 9.39
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item (12) (22) (9.70) 13.50 9.39
EPS (Unit Curr.) (8.90) (17) (7.50) 10.50 7.26
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 12.90 12.90 12.90 12.90 12.90
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(%) (91) (66) (16) 23.40 15.30
PBDTM(%) (172) (81) (25) 20.30 10.90
PATM(%) (166) (64) (20) 11.90 11.80