Sukhjit starch chemicals ltd Stock/Share Price, Latest BSE/NSE Sukhjit starch chemicals ltd Financial Summary at www.indiainfoline.com

Y/e 31 Mar	Mar-2020	Mar-2018	Mar-2017	Mar-2016
Growth matrix (%)
Revenue growth	14	7.51	15.10	6.24
Op profit growth	(11)	25.60	(17)	(5.40)
EBIT growth	(3)	32.60	(20)	(3.30)
Net profit growth	46.10	23.50	(18)	(2)
Profitability ratios (%)
OPM	6.99	8.93	7.65	10.60
EBIT margin	6.48	7.61	6.17	8.87
Net profit margin	4.15	3.23	2.82	3.97
RoCE	9.48	13.30	10.90	13.40
RoNW	2.92	2.31	2.03	2.73
RoA	1.52	1.41	1.25	1.50
Per share ratios ()
EPS	22.50	30.70	24.90	29.40
Dividend per share	2	6.50	5	5
Cash EPS	12.70	10.70	8.76	13.90
Book value per share	213	343	321	291
Valuation ratios
P/E	5.94	7.65	6.01	4.01
P/CEPS	10.50	21.90	17.10	8.51
P/B	0.63	0.68	0.47	0.41
EV/EBIDTA	7.46	7.08	6.13	4.57
Payout (%)
Dividend payout	--	21.20	20.10	19.80
Tax payout	1.37	(37)	(33)	(36)
Liquidity ratios
Debtor days	28.90	34.50	33.60	37.30
Inventory days	55.90	38.30	31.30	44.30
Creditor days	(20)	(20)	(20)	(21)
Leverage ratios
Interest coverage	(2.70)	(3)	(3.10)	(3.30)
Net debt / equity	0.94	0.53	0.42	0.52
Net debt / op. profit	5.32	2.16	1.98	1.86
Cost breakup ()
Material costs	(73)	(69)	(72)	(67)
Employee costs	(5.50)	(6)	(5.90)	(6)
Other costs	(14)	(16)	(14)	(16)

Y/e 31 Mar( In .Cr)	Mar-2020	Mar-2018	Mar-2017	Mar-2016
Revenue	799	701	652	566
yoy growth (%)	14	7.51	15.10	6.24
Raw materials	(585)	(483)	(473)	(379)
As % of sales	73.20	68.90	72.50	67
Employee costs	(44)	(42)	(38)	(34)
As % of sales	5.55	5.95	5.85	6.02
Other costs	(114)	(113)	(91)	(93)
As % of sales	14.30	16.20	14	16.40
Operating profit	55.80	62.60	49.90	59.90
OPM	6.99	8.93	7.65	10.60
Depreciation	(14)	(15)	(12)	(12)
Interest expense	(19)	(18)	(13)	(15)
Other income	10.40	5.49	2.27	2.55
Profit before tax	32.70	35.80	27.50	35
Taxes	0.45	(13)	(9.10)	(13)
Tax rate	1.37	(37)	(33)	(36)
Minorities and other	--	--	--	--
Adj. profit	33.10	22.70	18.40	22.50
Exceptional items	--	--	--	--
Net profit	33.10	22.70	18.40	22.50
yoy growth (%)	46.10	23.50	(18)	(2)
NPM	4.15	3.23	2.82	3.97

Y/e 31 Mar ( In .Cr)	Mar-2020	Mar-2018	Mar-2017	Mar-2016
Revenue	797	701	652	566
yoy growth (%)	13.80	7.52	15.20	6.28
Raw materials	(584)	(483)	(472)	(379)
As % of sales	73.20	69	72.50	67
Employee costs	(43)	(41)	(38)	(34)
As % of sales	5.43	5.89	5.81	5.96
Other costs	(114)	(113)	(91)	(93)
As % of sales	14.30	16.10	14	16.40
Operating profit	56.60	63.50	50.40	60.50
OPM	7.10	9.06	7.74	10.70
Depreciation	(13)	(15)	(12)	(12)
Interest expense	(18)	(18)	(13)	(15)
Other income	7.98	4.93	2.28	2.55
Profit before tax	33	36.20	28.10	35.70
Taxes	0.47	(13)	(9.20)	(13)
Tax rate	1.42	(36)	(33)	(35)
Minorities and other	--	--	--	--
Adj. profit	33.50	23	19	23.10
Exceptional items	--	--	--	--
Net profit	33.50	23	19	23.10
yoy growth (%)	45.50	21.30	(18)	(0.70)
NPM	4.20	3.29	2.91	4.07

Y/e 31 Mar ( In .Cr)	Mar-2020	Mar-2018	Mar-2017	Mar-2016
Profit before tax	32.70	35.80	27.50	35
Depreciation	(14)	(15)	(12)	(12)
Tax paid	0.45	(13)	(9.10)	(13)
Working capital	84.50	75.40	(2.70)	(14)
Other operating items	--	--	--	--
Operating cashflow	103	83.30	3.75	(4.20)
Capital expenditure	241	184	99.10	48.50
Free cash flow	345	267	103	44.40
Equity raised	396	367	370	358
Investments	(4.20)	33.50	19.30	5.87
Debt financing/disposal	303	142	109	102
Dividends paid	--	4.80	3.69	3.69
Other items	--	--	--	--
Net in cash	1,040	815	605	513

Y/e 31 Mar ( In .Cr)	Mar-2020	Mar-2019	Mar-2018	Mar-2017
Equity capital	14.80	14.80	7.38	7.38
Preference capital	--	--	--	--
Reserves	300	269	246	229
Net worth	315	283	253	237
Minority interest
Debt	311	186	153	106
Deferred tax liabilities (net)	31.60	31.60	28.10	25.70
Total liabilities	658	501	435	369
Fixed assets	532	372	265	245
Intangible assets
Investments	10.90	76.70	47.40	33.10
Deferred tax asset (net)	10.50	--	--	--
Net working capital	90.50	36.70	105	83
Inventories	152	53.70	92.50	54.70
Inventory Days	69.50	--	48.10	30.60
Sundry debtors	55.40	61.70	71.30	61.20
Debtor days	25.30	--	37.10	34.20
Other current assets	35.50	13.10	23.80	18
Sundry creditors	(43)	(32)	(37)	(31)
Creditor days	19.60	--	19.20	17.60
Other current liabilities	(110)	(60)	(46)	(19)
Cash	14.10	15.90	17.90	7.31
Total assets	658	501	435	369

Select Period

Particulars ( Rupees In Crores.)	Mar-2020	Mar-2019	Mar-2018	Mar-2017	Mar-2016
Gross Sales	799	742	709	654	566
Excise Duty	--	--	7.61	--	--
Net Sales	799	742	701	654	566
Other Operating Income	--	--	--	1.52	2.55
Other Income	10.40	3.30	5.49	0.71	--
Total Income	810	745	707	656	569
Total Expenditure **	743	650	638	604	506
PBIDT	66.20	95.30	68.10	52.30	62.50
Interest	19.10	16.30	17.60	13.40	15.30
PBDT	47.10	78.90	50.60	39	47.20
Depreciation	14.40	12.90	14.80	11.90	12.20
Minority Interest Before NP	--	--	--	--	--
Tax	8.58	21.40	10.40	9.09	12.50
Deferred Tax	(9)	3.05	2.80	--	--
Reported Profit After Tax	33.10	41.60	22.70	18	22.50
Minority Interest After NP	--	--	--	--	--
Net Profit after Minority Interest	33.10	41.60	22.70	18	22.50
Extra-ordinary Items	--	--	--	--	--
Adjusted Profit After Extra-ordinary item	33.10	41.60	22.70	18	22.50
EPS (Unit Curr.)	22.50	28.20	15.40	24.40	30.40
Book Value (Unit Curr.)	--	--	--	--	--
Dividend (%)	20	75	65	50	50
Equity	14.80	14.80	7.38	7.38	7.38
Public Shareholding (Number)	--	--	--	28,820,000	29,030,000
Public Shareholding (%)	--	--	--	39.10	39.30
Pledged/Encumbered - No. of Shares	--	--	--	--	--
Pledged/Encumbered - % in Total Promoters Holding	--	--	--	--	--
Pledged/Encumbered - % in Total Equity	--	--	--	--	--
Non Encumbered - No. of Shares	--	--	--	44,980,000	44,770,000
Non Encumbered - % in Total Promoters Holding	--	--	--	100	100
Non Encumbered - % in Total Equity	--	--	--	61	60.70
PBIDTM(%)	8.28	12.80	9.72	8.01	11
PBDTM(%)	5.89	10.60	7.21	5.96	8.34
PATM(%)	4.15	5.61	3.23	2.75	3.97

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