Trident Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 3.73 (1.50) 26.20 (2.40)
Op profit growth 3.63 (7.50) 21.30 10.40
EBIT growth 5.01 (12) 35.80 14.10
Net profit growth 28.70 (22) 39.30 105
Profitability ratios (%)        
OPM 18 18 19.10 19.90
EBIT margin 11.30 11.20 12.50 11.60
Net profit margin 7.19 5.79 7.29 6.60
RoCE 9.43 8.50 9.40 8.11
RoNW 2.96 2.41 3.25 3.11
RoA 1.50 1.10 1.37 1.15
Per share ratios ()        
EPS 0.68 5.35 6.77 4.63
Dividend per share 0.36 1.50 1.50 0.90
Cash EPS 0.01 (2.70) (1.50) (1.90)
Book value per share 6.07 53.50 55.40 47.80
Valuation ratios        
P/E 6.25 1.11 1.27 1.11
P/CEPS 352 (2.20) (5.70) (2.80)
P/B 0.70 0.11 0.16 0.11
EV/EBIDTA 4.39 6.19 7.17 7.91
Payout (%)        
Dividend payout 52.80 29 18.10 15.20
Tax payout (19) (33) (23) (14)
Liquidity ratios        
Debtor days 28.40 33.50 24.70 22.60
Inventory days 71 68 66.30 82.50
Creditor days (20) (18) (23) (32)
Leverage ratios        
Interest coverage (4.80) (4.30) (4.10) (2.90)
Net debt / equity 0.54 0.97 0.99 1.40
Net debt / op. profit 1.94 3.21 3.07 4.69
Cost breakup ()        
Material costs (45) (50) (48) (47)
Employee costs (12) (12) (13) (12)
Other costs (24) (20) (20) (21)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 4,728 4,558 4,625 3,666
yoy growth (%) 3.73 (1.50) 26.20 (2.40)
Raw materials (2,150) (2,283) (2,231) (1,729)
As % of sales 45.50 50.10 48.20 47.20
Employee costs (589) (524) (579) (429)
As % of sales 12.50 11.50 12.50 11.70
Other costs (1,140) (931) (930) (778)
As % of sales 24.10 20.40 20.10 21.20
Operating profit 849 819 885 730
OPM 18 18 19.10 19.90
Depreciation (334) (404) (413) (337)
Interest expense (111) (118) (141) (145)
Other income 20.20 94.80 106 33.40
Profit before tax 425 392 438 281
Taxes (81) (128) (102) (39)
Tax rate (19) (33) (23) (14)
Minorities and other -- -- -- --
Adj. profit 343 264 337 242
Exceptional items -- -- -- --
Net profit 340 264 337 242
yoy growth (%) 28.70 (22) 39.30 105
NPM 7.19 5.79 7.29 6.60
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 425 392 438 281
Depreciation (334) (404) (413) (337)
Tax paid (81) (128) (102) (39)
Working capital 630 646 366 331
Other operating items -- -- -- --
Operating cashflow 639 506 290 236
Capital expenditure 2,184 1,649 1,623 164
Free cash flow 2,823 2,155 1,913 400
Equity raised 2,900 2,623 2,786 2,663
Investments 72.10 51.30 (9.80) 41.40
Debt financing/disposal (299) 558 987 923
Dividends paid 179 76.40 61.20 30.50
Other items -- -- -- --
Net in cash 5,675 5,463 5,738 4,058
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 498 498 498 498
Preference capital -- -- -- --
Reserves 2,523 2,475 2,228 2,259
Net worth 3,021 2,973 2,726 2,757
Minority interest
Debt 1,984 2,436 2,798 2,849
Deferred tax liabilities (net) 356 447 470 401
Total liabilities 5,362 5,856 5,994 6,008
Fixed assets 3,827 3,848 4,079 4,468
Intangible assets
Investments 128 198 115 105
Deferred tax asset (net) 19.30 39.60 129 236
Net working capital 1,050 1,744 1,504 1,066
Inventories 916 1,012 923 775
Inventory Days 70.80 -- 73.90 61.10
Sundry debtors 275 658 460 375
Debtor days 21.30 -- 36.90 29.60
Other current assets 292 414 420 328
Sundry creditors (247) (203) (178) (194)
Creditor days 19 -- 14.30 15.30
Other current liabilities (188) (137) (121) (218)
Cash 338 25.70 167 133
Total assets 5,362 5,856 5,994 6,008
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 4,728 5,249 4,572 4,675 3,620
Excise Duty -- -- 12.30 49.40 45.60
Net Sales 4,728 5,249 4,559 4,625 3,575
Other Operating Income -- -- -- -- 91.10
Other Income 20.20 43.70 62.80 107 33.40
Total Income 4,748 5,292 4,622 4,732 3,699
Total Expenditure ** 3,882 4,266 3,708 3,740 2,936
PBIDT 866 1,027 914 992 763
Interest 111 112 118 141 145
PBDT 755 914 796 851 618
Depreciation 334 364 404 413 337
Minority Interest Before NP -- -- -- -- --
Tax 132 121 85.30 92.70 59.20
Deferred Tax (50) 57.30 40.20 8.92 (20)
Reported Profit After Tax 340 372 266 337 242
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 340 372 266 337 242
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 340 372 266 337 242
EPS (Unit Curr.) 0.68 0.75 5.35 6.77 4.76
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 36 300 15 15 9
Equity 498 498 498 498 509
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(%) 18.30 19.60 20 21.50 21.30
PBDTM(%) 16 17.40 17.50 18.40 17.30
PATM(%) 7.19 7.08 5.84 7.29 6.77