Strides Pharma Science Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth (3.10) 3.05 (3.70) 139
Op profit growth 30.10 (25) 27.40 80.90
EBIT growth 17.50 (40) 50 84.30
Net profit growth (94) 65.20 268 (87)
Profitability ratios (%)        
OPM 18.70 14 19.10 14.50
EBIT margin 14.40 11.90 20.40 13.10
Net profit margin 1.32 23.30 14.50 3.79
RoCE 7.35 5.41 8.66 8.92
RoNW 0.36 6.34 3.70 1.43
RoA 0.17 2.65 1.54 0.65
Per share ratios ()        
EPS 3.42 76.50 49.90 10.50
Dividend per share 14 2 4.50 5
Cash EPS (15) 56.60 30.60 (2.50)
Book value per share 282 275 307 297
Valuation ratios        
P/E 94.30 8.51 21.30 101
P/CEPS (21) 11.50 34.70 (414)
P/B 1.14 2.36 3.45 3.54
EV/EBIDTA 8.59 16.80 19.10 25.60
Payout (%)        
Dividend payout 295 2.71 10.10 7.49
Tax payout (4.70) (6.90) (17) (21)
Liquidity ratios        
Debtor days 120 121 134 90.70
Inventory days 88.50 82.60 89.10 52.30
Creditor days (125) (112) (128) (74)
Leverage ratios        
Interest coverage (2.50) (1.70) (3.10) (2.20)
Net debt / equity 0.79 0.90 1.23 1.22
Net debt / op. profit 3.87 5.59 6.39 7.80
Cost breakup ()        
Material costs (41) (49) (46) (52)
Employee costs (16) (15) (15) (12)
Other costs (24) (22) (19) (21)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 2,752 2,839 2,755 2,862
yoy growth (%) (3.10) 3.05 (3.70) 139
Raw materials (1,122) (1,379) (1,281) (1,502)
As % of sales 40.80 48.60 46.50 52.50
Employee costs (443) (434) (419) (358)
As % of sales 16.10 15.30 15.20 12.50
Other costs (671) (630) (528) (588)
As % of sales 24.40 22.20 19.20 20.60
Operating profit 516 397 527 414
OPM 18.70 14 19.10 14.50
Depreciation (174) (154) (126) (131)
Interest expense (156) (196) (183) (168)
Other income 53.10 94.10 161 92.10
Profit before tax 240 140 379 207
Taxes (11) (9.70) (63) (42)
Tax rate (4.70) (6.90) (17) (21)
Minorities and other (7) 590 120 (9.60)
Adj. profit 221 721 436 155
Exceptional items (78) (44) (36) (41)
Net profit 36.40 660 400 109
yoy growth (%) (94) 65.20 268 (87)
NPM 1.32 23.30 14.50 3.79
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 240 140 379 207
Depreciation (174) (154) (126) (131)
Tax paid (11) (9.70) (63) (42)
Working capital 663 765 1,001 851
Other operating items -- -- -- --
Operating cashflow 718 741 1,191 884
Capital expenditure (1,014) (200) 2,357 1,745
Free cash flow (296) 542 3,548 2,629
Equity raised 3,853 3,730 3,277 3,582
Investments 549 588 1,082 711
Debt financing/disposal 811 933 3,201 2,697
Dividends paid 107 17.90 40.20 6.72
Other items -- -- -- --
Net in cash 5,026 5,810 11,148 9,626
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 89.60 89.60 89.60 89.40
Preference capital -- -- -- --
Reserves 2,438 2,559 2,374 2,659
Net worth 2,527 2,649 2,464 2,749
Minority interest
Debt 2,235 3,221 2,520 3,700
Deferred tax liabilities (net) 121 484 667 58.60
Total liabilities 4,951 6,507 5,805 6,641
Fixed assets 2,512 4,101 3,597 3,760
Intangible assets
Investments 549 702 588 1,525
Deferred tax asset (net) 299 451 569 70.10
Net working capital 1,353 737 747 957
Inventories 783 874 552 733
Inventory Days 104 -- 71 97.10
Sundry debtors 932 987 882 996
Debtor days 124 -- 113 132
Other current assets 941 627 663 692
Sundry creditors (825) (891) (712) (780)
Creditor days 109 -- 91.60 103
Other current liabilities (477) (860) (637) (684)
Cash 237 517 303 329
Total assets 4,951 6,507 5,805 6,641
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Particulars ( Rupees In Crores.) Sep-2020 Jun-2020 Mar-2020 Dec-2019 Sep-2019
Gross Sales 794 782 619 732 715
Excise Duty -- -- -- -- --
Net Sales 794 782 619 732 715
Other Operating Income -- -- -- -- --
Other Income 40.80 57.20 22 27.90 127
Total Income 834 839 641 760 842
Total Expenditure ** 662 648 772 574 610
PBIDT 173 191 (131) 187 232
Interest 36.90 36.90 40.30 39.60 40.40
PBDT 136 154 (172) 147 191
Depreciation 52.80 49.10 45.30 43.50 42
Minority Interest Before NP -- -- -- -- --
Tax 7.67 6.81 (12) 8.11 16.10
Deferred Tax (1.60) (3.50) 1.21 3.19 (8.70)
Reported Profit After Tax 77 102 (207) 92.30 142
Minority Interest After NP (4) (1.70) (2.60) (1.60) (0.80)
Net Profit after Minority Interest 81 104 (204) 93.90 143
Extra-ordinary Items 11.70 42 (169) 13.90 73.90
Adjusted Profit After Extra-ordinary item 69.30 61.60 (35) 80 68.80
EPS (Unit Curr.) 9.03 11.60 (23) 10.50 15.90
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 89.60 89.60 89.60 89.60 89.60
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(%) 21.80 24.50 (21) 25.50 32.40
PBDTM(%) 17.10 19.70 (28) 20.10 26.70
PATM(%) 9.70 13 (33) 12.60 19.80