Varroc Engineering Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 -
Growth matrix (%)        
Revenue growth 8.20 10.50 -- --
Op profit growth (6.50) 50.80 -- --
EBIT growth (69) 76.90 -- --
Net profit growth (100) 43.80 -- --
Profitability ratios (%)        
OPM 7.38 8.54 6.26 --
EBIT margin 1.69 5.82 3.64 --
Net profit margin -- 4.38 3.37 --
RoCE 3.13 14.50 -- --
RoNW -- 4.49 -- --
RoA -- 2.73 -- --
Per share ratios ()        
EPS 0.19 36.60 274 --
Dividend per share 3 0.50 3.50 --
Cash EPS (54) 5.18 (19) --
Book value per share 223 230 1,775 --
Valuation ratios        
P/E 682 -- -- --
P/CEPS (2.40) -- -- --
P/B 0.58 -- -- --
EV/EBIDTA 5.36 -- -- --
Payout (%)        
Dividend payout -- 1.37 0.28 --
Tax payout (76) (12) (5.50) --
Liquidity ratios        
Debtor days 40.90 45.10 -- --
Inventory days 31.80 28.70 -- --
Creditor days (83) (73) -- --
Leverage ratios        
Interest coverage (1.30) (6.90) (3.70) --
Net debt / equity 1.06 0.31 0.53 --
Net debt / op. profit 3.88 0.98 1.98 --
Cost breakup ()        
Material costs (63) (62) (65) --
Employee costs (14) (13) (13) --
Other costs (15) (17) (16) --
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 -
Revenue 11,122 10,279 9,299 --
yoy growth (%) 8.20 10.50 -- --
Raw materials (6,986) (6,383) (6,037) --
As % of sales 62.80 62.10 64.90 --
Employee costs (1,593) (1,314) (1,204) --
As % of sales 14.30 12.80 12.90 --
Other costs (1,722) (1,705) (1,477) --
As % of sales 15.50 16.60 15.90 --
Operating profit 821 878 582 --
OPM 7.38 8.54 6.26 --
Depreciation (732) (386) (337) --
Interest expense (139) (86) (90) --
Other income 98.90 108 93.70 --
Profit before tax 48.70 513 248 --
Taxes (37) (62) (14) --
Tax rate (76) (12) (5.50) --
Minorities and other (2.30) (0.50) (0.40) --
Adj. profit 9.36 450 234 --
Exceptional items -- -- -- --
Net profit 0.19 450 313 --
yoy growth (%) (100) 43.80 -- --
NPM -- 4.38 3.37 --
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 -
Profit before tax 48.70 513 248 --
Depreciation (732) (386) (337) --
Tax paid (37) (62) (14) --
Working capital 166 -- -- --
Other operating items -- -- -- --
Operating cashflow (554) 64.30 -- --
Capital expenditure 4,377 -- -- --
Free cash flow 3,823 64.30 -- --
Equity raised 5,163 5,185 -- --
Investments 37.50 -- -- --
Debt financing/disposal 3,407 902 -- --
Dividends paid -- 6.16 0.89 --
Other items -- -- -- --
Net in cash 12,431 6,157 -- --
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 13.50 13.50 12.30 11.50
Preference capital -- -- 1.17 2.02
Reserves 2,991 3,053 2,815 2,172
Net worth 3,005 3,066 2,828 2,185
Minority interest
Debt 4,255 2,432 1,193 1,508
Deferred tax liabilities (net) 371 342 312 167
Total liabilities 7,655 5,865 4,354 3,880
Fixed assets 6,073 4,559 3,148 2,688
Intangible assets
Investments 330 362 360 293
Deferred tax asset (net) 490 435 364 167
Net working capital (307) 345 153 379
Inventories 1,076 890 864 753
Inventory Days 35.30 -- 30.70 29.60
Sundry debtors 1,089 1,350 1,403 1,138
Debtor days 35.70 -- 49.80 44.70
Other current assets 1,147 1,223 646 621
Sundry creditors (2,537) (2,205) (2,126) (1,639)
Creditor days 83.20 -- 75.50 64.30
Other current liabilities (1,083) (913) (633) (494)
Cash 1,069 163 329 354
Total assets 7,655 5,865 4,354 3,880
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Particulars ( Rupees In Crores.) Sep-2020 Jun-2020 Mar-2020 Dec-2019 Sep-2019
Gross Sales 2,916 1,275 2,745 2,804 2,703
Excise Duty -- -- -- -- --
Net Sales 2,916 1,275 2,745 2,804 2,703
Other Operating Income -- -- -- -- --
Other Income 32.20 61 48.70 17.70 11.40
Total Income 2,948 1,336 2,793 2,822 2,715
Total Expenditure ** 2,673 1,465 2,687 2,542 2,487
PBIDT 275 (129) 106 279 227
Interest 44.30 43.20 36.20 36.60 35.10
PBDT 231 (173) 69.90 243 192
Depreciation 227 207 207 194 167
Minority Interest Before NP -- -- -- -- --
Tax 26.50 -- (31) 23.80 12.40
Deferred Tax 16.50 (71) 31.70 (4.50) (9.70)
Reported Profit After Tax (39) (309) (137) 29.30 22.80
Minority Interest After NP 1.29 (0.90) 0.44 0.62 0.59
Net Profit after Minority Interest (40) (308) (138) 28.70 22.20
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item (40) (308) (138) 28.70 22.20
EPS (Unit Curr.) (3) (23) (10) 2.13 1.65
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- 300 -- --
Equity 13.50 13.50 13.50 13.50 13.50
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(%) 9.45 (10) 3.86 9.96 8.40
PBDTM(%) 7.93 (14) 2.55 8.65 7.10
PATM(%) (1.30) (24) (5) 1.05 0.84