State Trading Corporation of India Financial Statements

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Y/e 31 Mar Mar-2019 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth (18) 39 (26) (27)
Op profit growth 15.90 1.04 1.80 220
EBIT growth (116) 19.20 10.30 (28)
Net profit growth 42.90 (15) 57.60 19.60
Profitability ratios (%)        
OPM (1.40) (1) (1.30) (1)
EBIT margin (0.30) 1.66 1.94 1.29
Net profit margin (9.90) (5.70) (9.30) (4.40)
RoCE 1.92 (43) 84.30 22.50
RoNW 5.42 4.65 6.87 5.63
RoA 14.70 36.70 (102) (19)
Per share ratios ()        
EPS -- -- -- --
Dividend per share -- -- -- --
Cash EPS (150) (106) (124) (80)
Book value per share (752) (605) (503) (381)
Valuation ratios        
P/E -- -- -- --
P/CEPS (0.90) (1.30) (1.30) (1.10)
P/B (0.20) (0.20) (0.30) (0.20)
EV/EBIDTA (213) 18.60 22.60 21.70
Payout (%)        
Dividend payout -- -- -- --
Tax payout (8.70) (0.80) 2.97 0.96
Liquidity ratios        
Debtor days 48 72.80 111 87.20
Inventory days 0.01 0.67 0.94 0.10
Creditor days (8.10) (6.50) (19) (23)
Leverage ratios        
Interest coverage 0.19 (0.20) (0.20) (0.20)
Net debt / equity (0.50) (0.80) (0.90) (1.20)
Net debt / op. profit (17) (27) (27) (27)
Cost breakup ()        
Material costs (100) (100) (100) (100)
Employee costs (1.10) (1) (1.40) (1)
Other costs (0.40) (0.30) (0.40) (0.30)
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Y/e 31 Mar( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Revenue 8,903 10,866 7,814 10,601
yoy growth (%) (18) 39 (26) (27)
Raw materials (8,887) (10,837) (7,776) (10,565)
As % of sales 99.80 99.70 99.50 99.70
Employee costs (101) (108) (108) (102)
As % of sales 1.14 0.99 1.39 0.97
Other costs (39) (28) (35) (37)
As % of sales 0.43 0.25 0.45 0.35
Operating profit (123) (106) (105) (103)
OPM (1.40) (1) (1.30) (1)
Depreciation (15) (17) (17) (16)
Interest expense (156) (834) (719) (632)
Other income 110 303 273 257
Profit before tax (185) (654) (568) (495)
Taxes 16 5.27 (17) (4.80)
Tax rate (8.70) (0.80) 2.97 0.96
Minorities and other -- -- -- --
Adj. profit (169) (648) (584) (499)
Exceptional items (714) 30.40 (144) 37.20
Net profit (883) (618) (729) (462)
yoy growth (%) 42.90 (15) 57.60 19.60
NPM (9.90) (5.70) (9.30) (4.40)
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Profit before tax (185) (654) (568) (495)
Depreciation (15) (17) (17) (16)
Tax paid 16 5.27 (17) (4.80)
Working capital (3,930) (3,769) (1,850) (523)
Other operating items -- -- -- --
Operating cashflow (4,114) (4,434) (2,451) (1,038)
Capital expenditure 849 848 838 915
Free cash flow (3,265) (3,586) (1,613) (123)
Equity raised (4,587) (4,251) (3,914) (4,295)
Investments (0.30) (0.40) (0.30) (0.30)
Debt financing/disposal (836) 2,789 162 328
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash (8,689) (5,048) (5,366) (4,090)
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Y/e 31 Mar ( In .Cr) Mar-2019 Mar-2018 Mar-2017 Mar-2016
Equity capital 60 60 60 60
Preference capital -- -- -- --
Reserves (4,573) (3,692) (3,076) (2,345)
Net worth (4,513) (3,632) (3,016) (2,285)
Minority interest
Debt 2,181 2,949 2,852 2,801
Deferred tax liabilities (net) 2.07 2.07 2.07 3.87
Total liabilities (2,330) (681) (161) 520
Fixed assets 904 920 935 950
Intangible assets
Investments 0.01 0.01 0.01 0.04
Deferred tax asset (net) 88.60 75.70 79.10 76.90
Net working capital (3,451) (1,778) (1,185) (520)
Inventories 0.16 0.25 39.70 0.42
Inventory Days 0.01 0.01 1.85 0.01
Sundry debtors 121 2,221 2,113 2,641
Debtor days 4.95 74.60 98.70 90.90
Other current assets 1,568 1,126 1,116 1,180
Sundry creditors (186) (216) (175) (644)
Creditor days 7.62 7.27 8.18 22.20
Other current liabilities (4,954) (4,909) (4,278) (3,697)
Cash 128 102 9.61 13
Total assets (2,330) (681) (161) 520
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Particulars ( Rupees In Crores.) Jun-2020 Mar-2020 Dec-2019 Sep-2019 Jun-2019
Gross Sales 195 204 315 157 2,261
Excise Duty -- -- -- -- --
Net Sales 195 204 315 157 2,261
Other Operating Income -- -- -- -- --
Other Income 14.40 21.80 20 28.60 18.40
Total Income 210 226 335 185 2,279
Total Expenditure ** 212 227 338 185 2,366
PBIDT (2.60) (1) (2.90) (0.20) (87)
Interest 0.50 (0.20) 0.49 3.31 3.63
PBDT (3.10) (0.80) (3.40) (3.50) (91)
Depreciation 3.81 5.90 2.86 2.84 3.91
Minority Interest Before NP -- -- -- -- --
Tax -- -- -- -- --
Deferred Tax -- -- -- -- --
Reported Profit After Tax (6.90) (6.70) (6.30) (6.30) (95)
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (6.90) (6.70) (6.30) (6.30) (95)
Extra-ordinary Items 0.02 6.31 (2.80) 4.07 (82)
Adjusted Profit After Extra-ordinary item (6.90) (13) (3.50) (10) (13)
EPS (Unit Curr.) (1.20) (1) (1.10) (1.10) (16)
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 60 60 60 60 60
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(%) (1.30) (0.50) (0.90) (0.10) (3.90)
PBDTM(%) (1.60) (0.40) (1.10) (2.20) (4)
PATM(%) (3.50) (3.30) (2) (4) (4.20)