Tube Investments of India Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 -
Growth matrix (%)        
Revenue growth (5.50) 11.90 -- --
Op profit growth 41.90 1.13 -- --
EBIT growth 57.80 (4.60) -- --
Net profit growth 108 (12) -- --
Profitability ratios (%)        
OPM 12.20 8.11 8.97 --
EBIT margin 9.59 5.74 6.73 --
Net profit margin 6.45 2.93 3.73 --
RoCE 20.30 13.10 -- --
RoNW 5.10 3 -- --
RoA 3.41 1.67 -- --
Per share ratios ()        
EPS 16.70 8.29 9.30 --
Dividend per share 3.50 1.75 -- --
Cash EPS 6.44 (0.30) 1 --
Book value per share 92.30 67.80 63.40 --
Valuation ratios        
P/E 16.40 27 -- --
P/CEPS 42.60 (683) -- --
P/B 2.97 3.30 -- --
EV/EBIDTA 8.62 11.20 -- --
Payout (%)        
Dividend payout -- 22.30 22.40 --
Tax payout (21) (25) (20) --
Liquidity ratios        
Debtor days 46.90 47.60 -- --
Inventory days 50.70 54.20 -- --
Creditor days (74) (70) -- --
Leverage ratios        
Interest coverage (15) (4.90) (4.10) --
Net debt / equity 0.21 0.58 0.70 --
Net debt / op. profit 0.64 1.83 2.05 --
Cost breakup ()        
Material costs (57) (60) (59) --
Employee costs (12) (11) (11) --
Other costs (19) (21) (21) --
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2015
Revenue 4,750 5,027 4,493 9,698
yoy growth (%) (5.50) 11.90 (54) 9.77
Raw materials (2,704) (2,998) (2,635) (2,502)
As % of sales 56.90 59.60 58.60 25.80
Employee costs (587) (563) (513) (766)
As % of sales 12.40 11.20 11.40 7.90
Other costs (881) (1,059) (942) (3,237)
As % of sales 18.50 21.10 21 33.40
Operating profit 579 408 403 3,192
OPM 12.20 8.11 8.97 32.90
Depreciation (185) (154) (149) (171)
Interest expense (30) (58) (74) (2,100)
Other income 62.30 34.60 48.40 48.20
Profit before tax 425 230 229 969
Taxes (90) (58) (47) (320)
Tax rate (21) (25) (20) (33)
Minorities and other (6.90) (8.10) (6.70) (259)
Adj. profit 328 164 175 390
Exceptional items (22) (3.30) -- 34
Net profit 306 147 168 424
yoy growth (%) 108 (12) (61) 36.30
NPM 6.45 2.93 3.73 4.38
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 -
Profit before tax 425 230 229 --
Depreciation (185) (154) (149) --
Tax paid (90) (58) (47) --
Working capital (187) -- -- --
Other operating items -- -- -- --
Operating cashflow (37) 18.30 -- --
Capital expenditure 692 -- -- --
Free cash flow 655 18.30 -- --
Equity raised 2,577 2,393 -- --
Investments (16) -- -- --
Debt financing/disposal (125) -- -- --
Dividends paid -- 32.80 37.50 --
Other items -- -- -- --
Net in cash 3,091 2,444 -- --
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 18.80 18.80 18.80 18.70
Preference capital -- -- -- --
Reserves 1,715 1,457 1,254 1,169
Net worth 1,734 1,475 1,272 1,188
Minority interest
Debt 408 611 776 851
Deferred tax liabilities (net) 58.60 107 65.10 69.30
Total liabilities 2,273 2,290 2,214 2,199
Fixed assets 1,573 1,498 1,448 1,340
Intangible assets
Investments 186 132 134 202
Deferred tax asset (net) 51 69.30 42.50 47.20
Net working capital 426 535 558 586
Inventories 559 815 761 731
Inventory Days 42.90 -- 55.20 59.40
Sundry debtors 525 648 697 615
Debtor days 40.30 -- 50.60 50
Other current assets 200 200 240 223
Sundry creditors (714) (966) (980) (790)
Creditor days 54.90 -- 71.10 64.20
Other current liabilities (144) (163) (160) (193)
Cash 37.80 56 32.50 23.90
Total assets 2,273 2,290 2,214 2,199
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Particulars ( Rupees In Crores.) Jun-2020 Mar-2020 Dec-2019 Sep-2019 Jun-2019
Gross Sales 440 989 1,029 1,191 1,315
Excise Duty -- -- -- -- --
Net Sales 440 989 1,029 1,191 1,315
Other Operating Income 16.80 41.60 58.90 56.40 69.20
Other Income 7.69 18.20 19.60 13.60 10.90
Total Income 465 1,049 1,107 1,261 1,395
Total Expenditure ** 499 926 955 1,091 1,222
PBIDT (35) 124 152 170 173
Interest 5.99 5.64 7.19 8.57 8.97
PBDT (41) 118 145 161 164
Depreciation 44.50 50.70 45.40 45 44.20
Minority Interest Before NP -- -- -- -- --
Tax -- 27.30 15.30 28.20 43.60
Deferred Tax (20) (20) 2.22 (4.60) (2.40)
Reported Profit After Tax (65) 59.80 81.60 92.80 79.10
Minority Interest After NP (1.30) 0.30 1.57 2.31 2.75
Net Profit after Minority Interest (64) 59.50 80 90.50 76.40
Extra-ordinary Items (8.30) (13) -- -- --
Adjusted Profit After Extra-ordinary item (56) 72.50 80 90.50 76.40
EPS (Unit Curr.) (3.40) 3.17 4.26 4.82 4.07
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- 350 -- -- --
Equity 18.90 18.80 18.80 18.80 18.80
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(%) (7.90) 12.50 14.70 14.30 13.20
PBDTM(%) (9.20) 11.90 14 13.60 12.50
PATM(%) (15) 6.04 7.93 7.79 6.02