Super Tannery Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2017 Mar-2016 Mar-2015
Growth matrix (%)        
Revenue growth (7.80) (16) (24) (10)
Op profit growth (4.60) (31) (18) (3.10)
EBIT growth (24) (23) (21) (11)
Net profit growth (1.30) 11.20 (44) (42)
Profitability ratios (%)        
OPM 7.61 7.36 8.99 8.37
EBIT margin 5.12 6.24 6.78 6.51
Net profit margin 1.84 1.72 1.30 1.76
RoCE 6.23 7.40 8.78 11.60
RoNW 1.19 1.21 1.04 1.94
RoA 0.56 0.51 0.42 0.78
Per share ratios ()        
EPS 0.33 0.32 0.29 0.50
Dividend per share -- -- -- 0.05
Cash EPS (0.20) (0.20) (0.40) (0.10)
Book value per share 7.15 6.17 7.08 6.78
Valuation ratios        
P/E 3.82 12.70 12.80 10
P/CEPS (6) (19) (9.70) (35)
P/B 0.18 0.66 0.53 0.74
EV/EBIDTA 5.04 6.37 6.16 5.61
Payout (%)        
Dividend payout -- -- -- 11.40
Tax payout 30.70 (37) (53) (39)
Liquidity ratios        
Debtor days 75.90 81.40 73.10 60.90
Inventory days 167 165 145 103
Creditor days (83) (73) (67) (55)
Leverage ratios        
Interest coverage (1.40) (1.80) (1.70) (1.80)
Net debt / equity 0.82 1.04 1.32 1.31
Net debt / op. profit 4.46 4.68 4.70 3.64
Cost breakup ()        
Material costs (58) (61) (70) (73)
Employee costs (4.60) (4.40) (3.70) (2.50)
Other costs (30) (27) (18) (16)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2017 Mar-2016 Mar-2015
Revenue 186 201 240 316
yoy growth (%) (7.80) (16) (24) (10)
Raw materials (107) (123) (167) (231)
As % of sales 57.50 61 69.70 73.20
Employee costs (8.50) (8.80) (8.90) (8)
As % of sales 4.55 4.38 3.72 2.54
Other costs (56) (55) (42) (50)
As % of sales 30.30 27.30 17.60 15.90
Operating profit 14.10 14.80 21.60 26.40
OPM 7.61 7.36 8.99 8.37
Depreciation (5.70) (5.80) (7.30) (7.10)
Interest expense (6.70) (7.10) (9.60) (11)
Other income 1.07 3.56 1.98 1.23
Profit before tax 2.76 5.51 6.66 9.09
Taxes 0.85 (2) (3.50) (3.60)
Tax rate 30.70 (37) (53) (39)
Minorities and other (0.20) -- -- 0.01
Adj. profit 3.42 3.47 3.12 5.55
Exceptional items -- -- -- --
Net profit 3.42 3.47 3.12 5.55
yoy growth (%) (1.30) 11.20 (44) (42)
NPM 1.84 1.72 1.30 1.76
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2017 Mar-2016 Mar-2015
Profit before tax 2.76 5.51 6.66 9.09
Depreciation (5.70) (5.80) (7.30) (7.10)
Tax paid 0.85 (2) (3.50) (3.60)
Working capital 16 15.50 34.70 3.90
Other operating items -- -- -- --
Operating cashflow 13.90 13.20 30.50 2.34
Capital expenditure (2.50) (32) 27.40 8.39
Free cash flow 11.40 (19) 58 10.70
Equity raised 104 96 111 116
Investments 0.14 0.66 0.72 0.01
Debt financing/disposal (8) (2.20) 34.10 18.40
Dividends paid -- -- -- 0.54
Other items -- -- -- --
Net in cash 108 75.90 203 146
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 10.80 10.80 10.80 10.80
Preference capital -- -- -- --
Reserves 66.40 63.80 59.50 55.80
Net worth 77.20 74.60 70.30 66.60
Minority interest
Debt 72.10 70.70 79.20 75.40
Deferred tax liabilities (net) 6.63 8.69 6.90 6.43
Total liabilities 157 155 157 149
Fixed assets 66.70 63.10 56.60 59
Intangible assets
Investments 0.31 0.27 0.86 0.83
Deferred tax asset (net) 1.34 1.42 0.37 0.12
Net working capital 79.30 84.10 95.40 82.90
Inventories 86.80 83 71.80 83.30
Inventory Days 171 -- -- 151
Sundry debtors 36.30 38.20 59.80 41
Debtor days 71.30 -- -- 74.30
Other current assets 14.60 18.30 26.20 18.40
Sundry creditors (41) (41) (43) (36)
Creditor days 81.30 -- -- 65.90
Other current liabilities (17) (14) (20) (23)
Cash 8.96 5.80 3.55 5.95
Total assets 157 155 157 149
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Particulars ( Rupees In Crores.) Sep-2020 Jun-2020 Mar-2020 Dec-2019 Sep-2019
Gross Sales 53.60 19.30 45.90 33.30 54.70
Excise Duty -- -- -- -- --
Net Sales 53.60 19.30 45.90 33.30 54.70
Other Operating Income 1.90 0.84 4.30 1.61 1.47
Other Income 0.18 0.22 0.40 0.17 0.29
Total Income 55.70 20.40 50.60 35.10 56.50
Total Expenditure ** 51.80 17.40 47.90 31.30 51.80
PBIDT 3.90 2.95 2.69 3.87 4.72
Interest 1.35 1.20 1.91 1.79 1.68
PBDT 2.55 1.74 0.78 2.07 3.04
Depreciation 1.56 1.49 1.46 1.22 1.50
Minority Interest Before NP -- -- 0.19 -- --
Tax 0.53 0.04 (0.10) 0.23 0.57
Deferred Tax (0.30) 0.02 (0.60) (0.70) (0.60)
Reported Profit After Tax 0.71 0.20 (0.20) 1.29 1.59
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 0.71 0.20 (0.20) 1.29 1.59
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 0.71 0.20 (0.20) 1.29 1.59
EPS (Unit Curr.) 0.07 0.02 -- 0.12 0.15
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 10.80 10.80 10.80 10.80 10.80
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(%) 7.27 15.30 5.86 11.60 8.63
PBDTM(%) 4.76 9.02 1.70 6.21 5.56
PATM(%) 1.32 1.04 (0.50) 3.87 2.91