Tata Communications Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 2.51 (5.50) (2.90) (8.90)
Op profit growth 43.50 (4.80) (1.50) (18)
EBIT growth 30.70 (15) (7.60) (21)
Net profit growth (74) (127) 14,104 573
Profitability ratios (%)        
OPM 19.30 13.80 13.70 13.50
EBIT margin 5.86 4.60 5.11 5.37
Net profit margin (0.50) (2) 7 0.05
RoCE 9.57 7.45 7.20 6.92
RoNW 5.52 (7.90) 50.20 (10)
RoA (0.20) (0.80) 2.46 0.02
Per share ratios ()        
EPS -- -- 43.20 0.37
Dividend per share 4 4.50 6 4.30
Cash EPS (86) (78) (22) (65)
Book value per share (45) 17.50 55.90 (13)
Valuation ratios        
P/E -- -- 16.70 1,030
P/CEPS (2.70) (7.90) (33) (5.90)
P/B (5.20) 35.50 12.90 (30)
EV/EBIDTA 5.40 9.48 10.40 8.14
Payout (%)        
Dividend payout -- (39) 13.90 1,412
Tax payout (43) (84) (44) (41)
Liquidity ratios        
Debtor days 66.10 60.80 58.10 55.40
Inventory days 1.07 0.51 0.46 0.52
Creditor days (107) (100) (97) (95)
Leverage ratios        
Interest coverage (2.10) (2.20) (2.50) (2.40)
Net debt / equity (9) 15.30 5.11 (34)
Net debt / op. profit 3.50 3.33 3.38 5.02
Cost breakup ()        
Material costs -- -- -- --
Employee costs (18) (18) (16) (15)
Other costs (63) (68) (70) (71)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 17,068 16,651 17,620 18,149
yoy growth (%) 2.51 (5.50) (2.90) (8.90)
Raw materials -- -- -- --
As % of sales -- -- -- --
Employee costs (3,039) (2,978) (2,839) (2,740)
As % of sales 17.80 17.90 16.10 15.10
Other costs (10,740) (11,382) (12,374) (12,967)
As % of sales 62.90 68.40 70.20 71.50
Operating profit 3,289 2,291 2,406 2,442
OPM 19.30 13.80 13.70 13.50
Depreciation (2,358) (1,906) (1,866) (1,864)
Interest expense (471) (344) (367) (409)
Other income 69.70 381 360 397
Profit before tax 530 421 533 565
Taxes (227) (355) (236) (233)
Tax rate (43) (84) (44) (41)
Minorities and other 1.05 (19) 1,999 (221)
Adj. profit 305 46.90 2,296 111
Exceptional items (391) (376) (1,063) (103)
Net profit (86) (329) 1,233 8.68
yoy growth (%) (74) (127) 14,104 573
NPM (0.50) (2) 7 0.05
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 530 421 533 565
Depreciation (2,358) (1,906) (1,866) (1,864)
Tax paid (227) (355) (236) (233)
Working capital (601) 294 (482) 264
Other operating items -- -- -- --
Operating cashflow (2,656) (1,546) (2,051) (1,268)
Capital expenditure 18,692 5,616 1,272 3,045
Free cash flow 16,036 4,070 (779) 1,777
Equity raised 1,829 2,668 1,385 (20)
Investments 719 497 1,112 79
Debt financing/disposal 18,379 18,309 15,680 21,423
Dividends paid -- 128 171 123
Other items -- -- -- --
Net in cash 36,963 25,673 17,569 23,382
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 285 285 285 285
Preference capital -- -- -- --
Reserves (1,563) (467) 214 1,307
Net worth (1,278) (182) 499 1,592
Minority interest
Debt 12,413 9,935 8,927 9,214
Deferred tax liabilities (net) 136 136 214 76.10
Total liabilities 11,276 9,895 9,645 10,900
Fixed assets 13,117 11,651 11,317 11,679
Intangible assets
Investments 1,563 1,491 1,250 2,434
Deferred tax asset (net) 386 225 261 69
Net working capital (4,699) (4,324) (4,480) (4,362)
Inventories 73 76.60 27 19.20
Inventory Days 1.56 -- 0.59 0.40
Sundry debtors 3,229 2,968 2,953 2,590
Debtor days 69 -- 64.70 53.70
Other current assets 2,991 2,823 2,666 3,231
Sundry creditors (4,225) (4,184) (3,872) (4,019)
Creditor days 90.30 -- 84.90 83.30
Other current liabilities (6,767) (6,008) (6,254) (6,183)
Cash 909 852 1,296 1,079
Total assets 11,276 9,895 9,645 10,900
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Particulars ( Rupees In Crores.) Dec-2019 Dec-2018 Dec-2017 Dec-2016 Dec-2015
Gross Sales 12,670 12,281 12,732 13,326 13,479
Excise Duty -- -- -- -- --
Net Sales 12,670 12,281 12,732 13,326 13,479
Other Operating Income -- -- -- -- 50.70
Other Income 32.40 22.40 58.20 1,534 375
Total Income 12,702 12,304 12,790 14,860 13,905
Total Expenditure ** 10,262 10,222 11,120 11,422 11,769
PBIDT 2,440 2,082 1,670 3,438 2,136
Interest 348 293 253 289 310
PBDT 2,092 1,789 1,417 3,149 1,826
Depreciation 1,671 1,509 1,401 1,398 1,403
Minority Interest Before NP -- -- -- -- --
Tax 231 228 257 259 157
Deferred Tax 5.16 (56) (47) (3.90) --
Reported Profit After Tax 185 108 (194) 1,495 267
Minority Interest After NP 1.10 1.57 2.49 1.65 1.10
Net Profit after Minority Interest 189 116 (208) 1,495 266
Extra-ordinary Items (5.40) 0.29 43.40 -- --
Adjusted Profit After Extra-ordinary item 195 116 (251) 1,495 266
EPS (Unit Curr.) 6.63 4.09 (7.30) 52.40 9.34
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 285 285 285 285 285
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(%) 19.30 17 13.10 25.80 15.80
PBDTM(%) 16.50 14.60 11.10 23.60 13.60
PATM(%) 1.46 0.88 (1.50) 11.20 1.98