Tata Steel Long Products Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2017 Mar-2016 Mar-2015
Growth matrix (%)        
Revenue growth 526 (2.80) (27) 0.96
Op profit growth 149 157 (76) (32)
EBIT growth (189) 76.20 (66) (13)
Net profit growth (978) 84 (65) (9.20)
Profitability ratios (%)        
OPM 4.39 11.10 4.18 12.60
EBIT margin (2.20) 15.40 8.50 18
Net profit margin (15) 10.50 5.57 11.60
RoCE (2.60) 9.78 5.77 17.90
RoNW (9) 1.74 0.98 3.03
RoA (4.40) 1.67 0.95 2.89
Per share ratios ()        
EPS -- 38.20 18.70 57.70
Dividend per share -- 11 10 10
Cash EPS (183) 29.90 12.40 51.30
Book value per share 447 562 536 516
Valuation ratios        
P/E -- 15.60 21.40 10.70
P/CEPS (1) 20 32.40 12.10
P/B 0.42 1.06 0.75 1.20
EV/EBIDTA 14.70 7.80 7.63 5.59
Payout (%)        
Dividend payout -- 28.80 58.10 20.20
Tax payout (3.80) (30) (26) (33)
Liquidity ratios        
Debtor days 10 21.40 12.20 8.08
Inventory days 44.20 26.70 44.80 39.40
Creditor days (47) (36) (32) (28)
Leverage ratios        
Interest coverage 0.26 (35) (9.10) (27)
Net debt / equity 1.29 (0.40) (0.30) (0.30)
Net debt / op. profit 16.90 (5) (11) (2.50)
Cost breakup ()        
Material costs (63) (67) (74) (74)
Employee costs (5.50) (8.30) (5.90) (4.50)
Other costs (28) (14) (15) (9.50)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2017 Mar-2016 Mar-2015
Revenue 3,490 557 574 790
yoy growth (%) 526 (2.80) (27) 0.96
Raw materials (2,183) (373) (427) (581)
As % of sales 62.50 66.90 74.40 73.50
Employee costs (192) (46) (34) (35)
As % of sales 5.50 8.31 5.92 4.45
Other costs (962) (76) (89) (75)
As % of sales 27.60 13.70 15.50 9.48
Operating profit 153 61.60 24 99.20
OPM 4.39 11.10 4.18 12.60
Depreciation (311) (13) (13) (13)
Interest expense (293) (2.40) (5.40) (5.30)
Other income 81.30 37.10 37.70 55.50
Profit before tax (369) 83.50 43.40 137
Taxes 14 (25) (11) (45)
Tax rate (3.80) (30) (26) (33)
Minorities and other -- -- -- --
Adj. profit (355) 58.80 31.90 91.90
Exceptional items (161) -- -- --
Net profit (516) 58.80 31.90 91.90
yoy growth (%) (978) 84 (65) (9.20)
NPM (15) 10.50 5.57 11.60
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2017 Mar-2016 Mar-2015
Profit before tax (369) 83.50 43.40 137
Depreciation (311) (13) (13) (13)
Tax paid 14 (25) (11) (45)
Working capital (260) 60 (60) 59.70
Other operating items -- -- -- --
Operating cashflow (926) 106 (41) 139
Capital expenditure 4,597 (195) (210) 210
Free cash flow 3,671 (89) (250) 348
Equity raised 3,142 1,515 1,574 1,514
Investments (110) 58.90 77.40 (77)
Debt financing/disposal 2,755 -- -- --
Dividends paid -- 16.90 15.40 15.40
Other items -- -- -- --
Net in cash 9,457 1,502 1,416 1,800
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 45.10 15.40 15.40 15.40
Preference capital -- -- -- --
Reserves 1,972 1,068 971 850
Net worth 2,017 1,084 987 865
Minority interest
Debt 2,755 -- -- --
Deferred tax liabilities (net) 166 32.20 30.90 32.60
Total liabilities 4,938 1,116 1,017 897
Fixed assets 4,652 228 155 160
Intangible assets
Investments 17.70 244 200 263
Deferred tax asset (net) 166 14 12.90 13.50
Net working capital (59) 283 228 154
Inventories 797 115 84.10 49.10
Inventory Days 83.40 -- -- 32.10
Sundry debtors 156 78.50 58.80 35.80
Debtor days 16.30 -- -- 23.40
Other current assets 393 312 295 231
Sundry creditors (812) (75) (68) (53)
Creditor days 85 -- -- 34.90
Other current liabilities (592) (147) (142) (109)
Cash 162 347 422 307
Total assets 4,938 1,116 1,017 898
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 3,490 992 817 615 633
Excise Duty -- -- 16.50 57.90 59.50
Net Sales 3,490 992 800 557 574
Other Operating Income -- -- -- -- --
Other Income 81.30 57.70 43.10 37.10 37.70
Total Income 3,571 1,050 843 594 611
Total Expenditure ** 3,498 847 617 496 550
PBIDT 73.40 202 226 98.70 61.70
Interest 293 3.02 3.25 2.44 5.38
PBDT (219) 199 223 96.30 56.30
Depreciation 311 11.60 12.30 12.80 12.90
Minority Interest Before NP -- -- -- -- --
Tax -- 65.80 71 26.70 12.20
Deferred Tax (14) (2.30) (1.70) (2) (0.70)
Reported Profit After Tax (516) 124 141 58.80 31.90
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest (516) 124 141 58.80 31.90
Extra-ordinary Items (161) -- -- -- --
Adjusted Profit After Extra-ordinary item (355) 124 141 58.80 31.90
EPS (Unit Curr.) (143) 76 91.50 38.20 20.70
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- 125 200 110 100
Equity 45.10 15.40 15.40 15.40 15.40
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(%) 2.10 20.40 28.20 17.70 10.80
PBDTM(%) (6.30) 20.10 27.80 17.30 9.82
PATM(%) (15) 12.50 17.60 10.50 5.57