Vascon Engineers Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2019 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth (0.60) (2.80) 9.98 (17)
Op profit growth 660 6.34 (196) (120)
EBIT growth 92.60 0.94 (15) (23)
Net profit growth 480 20.20 182 (76)
Profitability ratios (%)        
OPM 10.30 1.35 1.24 (1.40)
EBIT margin 11.30 5.83 5.62 7.23
Net profit margin 7.60 1.30 1.05 0.41
RoCE 6.02 3.19 3.21 3.86
RoNW 1.39 0.25 0.22 0.08
RoA 1.01 0.18 0.15 0.05
Per share ratios ()        
EPS 2.23 0.30 0.27 0.07
Dividend per share -- -- -- --
Cash EPS 1.38 (0.40) (0.50) (0.80)
Book value per share 41.20 38.70 38.40 37.80
Valuation ratios        
P/E 3.35 50.80 123 540
P/CEPS 5.42 (41) (67) (46)
P/B 0.18 0.39 0.87 1
EV/EBIDTA 4.33 10.30 18 16.50
Payout (%)        
Dividend payout -- -- -- --
Tax payout (0.20) 24 (7.10) (55)
Liquidity ratios        
Debtor days 134 142 146 173
Inventory days 344 338 312 327
Creditor days (158) (141) (135) (140)
Leverage ratios        
Interest coverage (3.10) (1.20) (1.20) (1.10)
Net debt / equity 0.25 0.26 0.33 0.33
Net debt / op. profit 3.46 25.40 33.30 (30)
Cost breakup ()        
Material costs (67) (73) (71) (74)
Employee costs (14) (14) (14) (16)
Other costs (8.90) (12) (14) (12)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Revenue 521 524 539 490
yoy growth (%) (0.60) (2.80) 9.98 (17)
Raw materials (349) (383) (382) (363)
As % of sales 67 73.10 70.80 74.20
Employee costs (72) (72) (77) (77)
As % of sales 13.80 13.80 14.30 15.60
Other costs (46) (61) (74) (57)
As % of sales 8.89 11.70 13.70 11.60
Operating profit 53.90 7.09 6.67 (6.90)
OPM 10.30 1.35 1.24 (1.40)
Depreciation (15) (13) (14) (16)
Interest expense (19) (26) (25) (33)
Other income 20 36.90 37.90 58
Profit before tax 39.80 4.26 5 2.70
Taxes (0.10) 1.02 (0.40) (1.50)
Tax rate (0.20) 24 (7.10) (55)
Minorities and other (0.20) 1.55 1.03 0.80
Adj. profit 39.60 6.82 5.68 2.01
Exceptional items -- -- -- --
Net profit 39.60 6.82 5.68 2.01
yoy growth (%) 480 20.20 182 (76)
NPM 7.60 1.30 1.05 0.41
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Profit before tax 39.80 4.26 5 2.70
Depreciation (15) (13) (14) (16)
Tax paid (0.10) 1.02 (0.40) (1.50)
Working capital 108 31.80 111 132
Other operating items -- -- -- --
Operating cashflow 133 23.60 101 117
Capital expenditure 6.69 (15) (35) (19)
Free cash flow 139 8.17 66.60 97.80
Equity raised 1,232 1,234 1,195 1,112
Investments (3.90) 2.61 20.40 15.60
Debt financing/disposal 217 313 251 189
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 1,585 1,558 1,533 1,414
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 194 189 174 168
Preference capital -- -- -- --
Reserves 541 501 494 467
Net worth 734 690 668 634
Minority interest
Debt 255 253 278 274
Deferred tax liabilities (net) 1.80 4.29 5.20 2.85
Total liabilities 1,001 956 962 923
Fixed assets 108 114 120 130
Intangible assets
Investments 97.70 82.70 85.60 84
Deferred tax asset (net) 8.96 11.50 12.40 11.20
Net working capital 718 676 688 632
Inventories 481 500 472 451
Inventory Days 337 348 319 336
Sundry debtors 181 202 206 224
Debtor days 127 140 139 167
Other current assets 413 352 376 359
Sundry creditors (202) (202) (196) (198)
Creditor days 141 141 133 147
Other current liabilities (155) (176) (169) (205)
Cash 68.80 72.10 55.80 66.50
Total assets 1,001 956 962 923
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Particulars ( Rupees In Crores.) Sep-2020 Jun-2020 Mar-2020 Dec-2019 Sep-2019
Gross Sales 120 43.40 128 105 122
Excise Duty -- -- -- -- --
Net Sales 120 43.40 128 105 122
Other Operating Income -- -- -- -- --
Other Income 4.50 2.57 3.99 41.30 2.69
Total Income 124 45.90 132 146 125
Total Expenditure ** 125 72.60 131 105 108
PBIDT (0.70) (27) 0.83 41.20 16.60
Interest 6.53 7.65 (1.90) 6.70 8.12
PBDT (7.20) (34) 2.71 34.50 8.43
Depreciation 2.99 3.01 3.91 3.77 3.77
Minority Interest Before NP -- -- -- -- --
Tax -- -- (0.20) 0.34 --
Deferred Tax 0.58 -- -- -- --
Reported Profit After Tax (11) (37) (1) 30.40 4.66
Minority Interest After NP -- -- (0.20) (0.10) --
Net Profit after Minority Interest (11) (37) (0.80) 30.40 4.66
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item (11) (37) (0.80) 30.40 4.66
EPS (Unit Curr.) (0.60) (2.10) (0.10) 1.71 0.24
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 178 178 178 178 178
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(%) (0.60) (62) 0.65 39.40 13.60
PBDTM(%) (6) (79) 2.12 33 6.91
PATM(%) (9) (86) (0.70) 29 3.82