Vadilal Industries Financial Statements

Vadilal Industries Profit & Loss Statement

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 8.89 14.20 7.18 10.70
Op profit growth 54.30 (10) (2.70) 47.80
EBIT growth 69 (15) (1.40) 55.70
Net profit growth 164 (18) 29.10 506
Profitability ratios (%)        
OPM 13.10 9.27 11.80 13
EBIT margin 10.80 6.95 9.39 10.20
Net profit margin 6.91 2.85 3.95 3.28
RoCE 16.40 11.80 15.70 16.60
RoNW 4.90 2.33 3.31 3.07
RoA 2.63 1.21 1.66 1.33
Per share ratios ()        
EPS 57.60 21.80 26.50 20.20
Dividend per share -- 1.25 12.50 1.25
Cash EPS 24.60 (0.60) 5.75 1.73
Book value per share 344 244 224 177
Valuation ratios        
P/E 7.85 38.90 36.60 31.30
P/CEPS 18.40 (1,307) 169 365
P/B 1.32 3.47 4.34 3.57
EV/EBIDTA 5.43 13.70 13.50 9.63
Payout (%)        
Dividend payout -- 5.74 4.71 7.32
Tax payout (14) (32) (35) (40)
Liquidity ratios        
Debtor days 26.20 17.50 12.30 15.10
Inventory days 78.20 74.60 82 77.50
Creditor days (61) (62) (70) (59)
Leverage ratios        
Interest coverage (3.90) (2.50) (2.80) (2.10)
Net debt / equity 0.62 0.78 0.70 0.92
Net debt / op. profit 1.96 2.68 1.99 2.01
Cost breakup ()        
Material costs (53) (57) (54) (55)
Employee costs (10) (7.10) (6) (5.60)
Other costs (24) (27) (28) (26)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 599 550 482 450
yoy growth (%) 8.89 14.20 7.18 10.70
Raw materials (316) (313) (262) (248)
As % of sales 52.70 56.80 54.30 55.20
Employee costs (62) (39) (29) (25)
As % of sales 10.40 7.12 5.96 5.58
Other costs (143) (148) (135) (118)
As % of sales 23.80 26.80 28 26.20
Operating profit 78.70 51 56.80 58.30
OPM 13.10 9.27 11.80 13
Depreciation (24) (16) (15) (14)
Interest expense (17) (15) (16) (21)
Other income 9.62 3.35 3.45 1.07
Profit before tax 47.90 22.90 29.30 24.40
Taxes (6.60) (7.30) (10) (9.70)
Tax rate (14) (32) (35) (40)
Minorities and other -- -- -- 0.06
Adj. profit 41.40 15.70 19.10 14.80
Exceptional items -- -- -- --
Net profit 41.40 15.70 19.10 14.80
yoy growth (%) 164 (18) 29.10 506
NPM 6.91 2.85 3.95 3.28
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 47.90 22.90 29.30 24.40
Depreciation (24) (16) (15) (14)
Tax paid (6.60) (7.30) (10) (9.70)
Working capital 59.20 14.80 (17) (17)
Other operating items -- -- -- --
Operating cashflow 76.90 14.40 (13) (16)
Capital expenditure 335 108 65.50 18.30
Free cash flow 412 123 52.80 2.55
Equity raised 234 256 241 212
Investments 0.50 0.53 0.51 0.30
Debt financing/disposal 77 66.40 15.80 (0.80)
Dividends paid -- 0.90 0.90 0.90
Other items -- -- -- --
Net in cash 724 446 311 215
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 7.19 7.19 7.19 7.19
Preference capital -- -- -- --
Reserves 240 200 168 154
Net worth 247 207 175 161
Minority interest
Debt 174 148 141 119
Deferred tax liabilities (net) 22.80 28.20 26.40 25.50
Total liabilities 444 384 343 306
Fixed assets 326 281 264 255
Intangible assets
Investments 0.57 0.59 0.59 0.60
Deferred tax asset (net) 6.90 6.34 5.65 7.47
Net working capital 90.70 87.50 68.60 36.10
Inventories 155 127 102 123
Inventory Days 94.10 -- 67.80 93
Sundry debtors 44.20 31.10 42 10.90
Debtor days 26.90 -- 27.80 8.25
Other current assets 29.20 29.20 26.10 18.10
Sundry creditors (91) (75) (82) (88)
Creditor days 55.70 -- 54.10 66.30
Other current liabilities (46) (24) (20) (28)
Cash 19.20 8.61 4.61 5.94
Total assets 444 384 343 306
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Particulars ( Rupees In Crores.) Mar-2021 Dec-2020 Sep-2020 Jun-2020 Mar-2020
Gross Sales 169 98.60 123 73.30 97.70
Excise Duty -- -- -- -- --
Net Sales 169 98.60 123 73.30 97.70
Other Operating Income -- -- -- -- --
Other Income 5.23 4.40 5.07 1.84 2.63
Total Income 174 103 128 75.20 100
Total Expenditure ** 141 93.30 116 78.60 107
PBIDT 33.20 9.66 12.60 (3.40) (6.70)
Interest 5.36 5.07 5.34 5.68 5.57
PBDT 27.80 4.60 7.22 (9.10) (12)
Depreciation 5.93 5.66 5.55 5.71 6.23
Minority Interest Before NP -- -- -- -- --
Tax 2.95 2.52 4.07 1.74 (4.80)
Deferred Tax 2.37 (2.40) (3.10) (5.10) 0.29
Reported Profit After Tax 16.50 (1.20) 0.68 (11) (14)
Minority Interest After NP -- -- -- -- --
Net Profit after Minority Interest 16.50 (1.20) 0.68 (11) (14)
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 16.50 (1.20) 0.68 (11) (14)
EPS (Unit Curr.) 23 (1.70) 0.95 (16) (20)
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 7.19 7.19 7.19 7.19 7.19
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(%) 19.70 9.80 10.20 (4.60) (6.90)
PBDTM(%) 16.50 4.67 5.85 (12) (13)
PATM(%) 9.82 (1.20) 0.55 (16) (14)
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