Team Lease Services Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 43.50 19.20 21.40 24.80
Op profit growth 38.30 85.70 43.70 7.19
EBIT growth 29.40 43.10 37.70 16.80
Net profit growth (52) 27.60 132 (19)
Profitability ratios (%)        
OPM 1.83 1.90 1.22 1.03
EBIT margin 1.87 2.08 1.73 1.53
Net profit margin 0.67 2.03 1.89 0.99
RoCE 17 18.30 15 15.90
RoNW 1.73 4.55 4.25 2.69
RoA 1.53 4.48 4.10 2.58
Per share ratios ()        
EPS 20.50 43 33.70 14.50
Dividend per share -- -- -- --
Cash EPS 3.74 37.60 30.10 12.70
Book value per share 335 258 214 182
Valuation ratios        
P/E 74.60 51.60 29.10 61.40
P/CEPS 409 59 32.60 69.90
P/B 4.56 8.58 4.58 4.89
EV/EBIDTA 20.90 43.30 25.80 31.10
Payout (%)        
Dividend payout -- -- -- --
Tax payout (56) 1.27 11.80 (34)
Liquidity ratios        
Debtor days 18.20 20 17.60 14.70
Inventory days -- -- 0.01 0.03
Creditor days (2) (1.40) (1.10) (1.20)
Leverage ratios        
Interest coverage (7.90) (31) (48) (97)
Net debt / equity 0.05 (0.30) (0.40) (0.80)
Net debt / op. profit 0.28 (2) (4.30) (9.30)
Cost breakup ()        
Material costs -- -- -- --
Employee costs (95) (96) (97) (97)
Other costs (3.30) (2.30) (2.10) (1.60)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 5,201 3,624 3,041 2,505
yoy growth (%) 43.50 19.20 21.40 24.80
Raw materials -- -- -- --
As % of sales -- -- -- --
Employee costs (4,936) (3,471) (2,941) (2,439)
As % of sales 94.90 95.80 96.70 97.40
Other costs (169) (84) (63) (40)
As % of sales 3.25 2.32 2.07 1.60
Operating profit 95.10 68.80 37 25.80
OPM 1.83 1.90 1.22 1.03
Depreciation (29) (9.20) (6.10) (3)
Interest expense (12) (2.50) (1.10) (0.40)
Other income 30.80 15.60 21.70 15.40
Profit before tax 85.10 72.80 51.50 37.80
Taxes (48) 0.92 6.06 (13)
Tax rate (56) 1.27 11.80 (34)
Minorities and other -- -- -- --
Adj. profit 37.10 73.70 57.60 24.80
Exceptional items -- -- -- --
Net profit 35 73.50 57.60 24.80
yoy growth (%) (52) 27.60 132 (19)
NPM 0.67 2.03 1.89 0.99
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 85.10 72.80 51.50 37.80
Depreciation (29) (9.20) (6.10) (3)
Tax paid (48) 0.92 6.06 (13)
Working capital (11) (192) -- 192
Other operating items -- -- -- --
Operating cashflow (2.80) (128) 51.50 214
Capital expenditure 272 116 -- (116)
Free cash flow 269 (11) 51.50 97.50
Equity raised 685 646 641 694
Investments 25.30 59.30 -- (59)
Debt financing/disposal 124 (12) -- 14.50
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 1,103 682 692 747
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 17.10 17.10 17.10 17.10
Preference capital -- -- -- --
Reserves 555 522 425 349
Net worth 572 539 442 366
Minority interest
Debt 124 10.60 7.29 1.10
Deferred tax liabilities (net) -- -- -- 4.22
Total liabilities 696 550 449 372
Fixed assets 276 158 138 107
Intangible assets
Investments 25.30 41.40 59.30 10.30
Deferred tax asset (net) 14.40 65.30 39.90 24.80
Net working capital 283 162 69.60 69.40
Inventories -- -- -- --
Inventory Days -- -- -- --
Sundry debtors 296 264 223 173
Debtor days 20.80 -- 22.50 20.80
Other current assets 547 438 283 203
Sundry creditors (39) (28) (18) (9.80)
Creditor days 2.74 -- 1.77 1.18
Other current liabilities (520) (512) (419) (296)
Cash 97 123 142 160
Total assets 696 550 449 372
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Particulars ( Rupees In Crores.) Sep-2020 Jun-2020 Mar-2020 Dec-2019 Sep-2019
Gross Sales 1,129 1,136 1,330 1,351 1,268
Excise Duty -- -- -- -- --
Net Sales 1,129 1,136 1,330 1,351 1,268
Other Operating Income -- -- -- -- --
Other Income 11.50 4.10 14.70 7.28 5.38
Total Income 1,141 1,141 1,345 1,359 1,273
Total Expenditure ** 1,109 1,112 1,311 1,324 1,244
PBIDT 31.20 28.40 34.40 34.30 29
Interest 1.88 2.57 3.68 2.88 2.94
PBDT 29.30 25.80 30.70 31.50 26.10
Depreciation 8.35 8.24 8.31 7.63 6.56
Minority Interest Before NP -- -- -- -- --
Tax 0.86 0.74 51.20 0.34 0.36
Deferred Tax 1.49 (0.20) 0.57 (2) (1)
Reported Profit After Tax 18.60 17.10 (29) 25.50 20.20
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 18.60 17.10 (29) 25.50 20.20
Extra-ordinary Items (2.70) -- -- -- 19.80
Adjusted Profit After Extra-ordinary item 21.30 17.10 (29) 25.50 0.36
EPS (Unit Curr.) 10.90 10 (17) 14.90 11.80
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 17.10 17.10 17.10 17.10 17.10
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(%) 2.76 2.50 2.58 2.54 2.29
PBDTM(%) 2.60 2.27 2.31 2.33 2.06
PATM(%) 1.65 1.50 (2.20) 1.88 1.59