Texmo Pipes & Products Financial Statements

Texmo Pipes & Products Half Yearly Results

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Y/e 31 Mar Mar-2020 Mar-2017 Mar-2016 Mar-2015
Growth matrix (%)        
Revenue growth 10.20 15.40 (17) 29.80
Op profit growth 49.30 (26) (5.10) 28.20
EBIT growth 38.10 (28) (2.80) 39.20
Net profit growth (394) (141) (3.20) 84.10
Profitability ratios (%)        
OPM 6.83 5.05 7.92 6.91
EBIT margin 5.26 4.19 6.74 5.74
Net profit margin 1.20 (0.50) 1.28 1.09
RoCE 6.23 5.24 8.83 9.42
RoNW 0.49 (0.20) 0.60 0.65
RoA 0.36 (0.10) 0.42 0.45
Per share ratios ()        
EPS 1.50 -- 1.38 1.43
Dividend per share -- -- -- --
Cash EPS (0.90) (3.40) (0.90) (0.80)
Book value per share 81 79.80 59.20 56.20
Valuation ratios        
P/E 5.37 -- 16.70 7.38
P/CEPS (9.40) (6.10) (25) (14)
P/B 0.10 0.25 0.39 0.19
EV/EBIDTA 2.65 5.47 4.49 3
Payout (%)        
Dividend payout -- -- -- --
Tax payout (27) (565) (26) (31)
Liquidity ratios        
Debtor days 50.40 87.30 130 83.40
Inventory days 86.50 96 101 76.10
Creditor days (59) (42) (13) (6)
Leverage ratios        
Interest coverage (1.60) (1) (1.30) (1.40)
Net debt / equity 0.19 0.30 0.34 0.33
Net debt / op. profit 1.82 3.75 2.35 2.06
Cost breakup ()        
Material costs (76) (80) (76) (81)
Employee costs (4.60) (4.40) (4.40) (2.90)
Other costs (12) (10) (12) (9.20)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2017 Mar-2016 Mar-2015
Revenue 328 298 258 311
yoy growth (%) 10.20 15.40 (17) 29.80
Raw materials (251) (239) (196) (252)
As % of sales 76.40 80.20 75.90 81
Employee costs (15) (13) (11) (9.10)
As % of sales 4.61 4.43 4.38 2.92
Other costs (40) (31) (30) (29)
As % of sales 12.10 10.40 11.80 9.16
Operating profit 22.40 15 20.40 21.50
OPM 6.83 5.05 7.92 6.91
Depreciation (6.20) (6.60) (5.50) (5.30)
Interest expense (11) (12) (13) (13)
Other income 1.02 4.11 2.46 1.63
Profit before tax 6.71 0.29 4.47 4.97
Taxes (1.80) (1.60) (1.20) (1.60)
Tax rate (27) (565) (26) (31)
Minorities and other -- -- -- --
Adj. profit 4.88 (1.30) 3.30 3.41
Exceptional items (0.90) -- -- --
Net profit 3.94 (1.30) 3.30 3.41
yoy growth (%) (394) (141) (3.20) 84.10
NPM 1.20 (0.50) 1.28 1.09
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2017 Mar-2016 Mar-2015
Profit before tax 6.71 0.29 4.47 4.97
Depreciation (6.20) (6.60) (5.50) (5.30)
Tax paid (1.80) (1.60) (1.20) (1.60)
Working capital 23.90 (6.80) 34.40 8.44
Other operating items -- -- -- --
Operating cashflow 22.60 (15) 32.20 6.58
Capital expenditure 90 56.80 9.77 3.04
Free cash flow 113 42 41.90 9.62
Equity raised 249 260 211 211
Investments -- (26) (6.60) (6.70)
Debt financing/disposal (11) 22.20 10.20 (0.30)
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 350 298 256 214
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 27.20 27.20 25.90 23.80
Preference capital -- -- -- --
Reserves 186 175 167 166
Net worth 213 203 192 190
Minority interest
Debt 49.90 51.50 60.10 66.60
Deferred tax liabilities (net) 16.80 16.60 16.60 16.40
Total liabilities 280 271 269 273
Fixed assets 115 114 113 111
Intangible assets
Investments -- -- -- --
Deferred tax asset (net) -- 0.06 -- 0.53
Net working capital 156 149 145 152
Inventories 73.50 63.70 69.20 82
Inventory Days 81.70 -- -- 101
Sundry debtors 44.20 61.60 40.70 46.40
Debtor days 49.20 -- -- 56.90
Other current assets 102 98.30 98.20 88.60
Sundry creditors (50) (59) (50) (49)
Creditor days 56.10 -- -- 59.50
Other current liabilities (13) (16) (13) (17)
Cash 9.12 8.39 11.40 10.20
Total assets 280 271 269 273
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Particulars ( Rupees In Crores.) Mar-2021 Sep-2020 Mar-2020 Sep-2019 Mar-2019
Gross Sales 304 191 174 210 175
Excise Duty 45.10 28.20 25 31 --
Net Sales 259 163 149 179 175
Other Operating Income -- -- -- -- --
Other Income 0.46 0.41 0.40 0.62 (0.60)
Total Income 259 163 149 180 174
Total Expenditure ** 241 152 139 168 166
PBIDT 18.20 11.60 10.60 11.90 8.04
Interest 4.71 4.78 4.09 6.46 4.36
PBDT 13.50 6.82 6.54 5.43 3.68
Depreciation 3.27 2.98 3.18 3.01 2.94
Minority Interest Before NP -- -- -- -- --
Tax 2.46 0.90 0.83 0.75 0.35
Deferred Tax (0.30) 0.13 0.28 -- (0.40)
Reported Profit After Tax 8.03 2.81 2.25 1.69 0.82
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 8.03 2.81 2.25 1.69 0.82
Extra-ordinary Items -- -- (0.90) -- (0.50)
Adjusted Profit After Extra-ordinary item 8.03 2.81 3.19 1.69 1.34
EPS (Unit Curr.) 2.75 1.07 0.85 0.64 0.33
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 29.20 26.30 26.30 26.30 25
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(%) 7.02 7.11 7.14 6.64 4.59
PBDTM(%) -- -- -- -- --
PATM(%) 3.10 1.72 1.51 0.94 0.47
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