Sukhjit Starch & Chemicals Financial Statements

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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)
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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
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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
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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
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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