Visa Steel Financial Statements

Visa Steel Annually Results

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth (67) 32.60 19.60 1.79
Op profit growth (226) (32) (783) (154)
EBIT growth 209 (36) (37) 201
Net profit growth 119 (35) (78) 126
Profitability ratios (%)        
OPM (7.30) 1.91 3.73 (0.70)
EBIT margin (25) (2.70) (5.60) (11)
Net profit margin (28) (4.20) (8.70) (47)
RoCE (6) (1.70) (2.40) (4)
RoNW 4.94 3.11 4.56 28.80
RoA (1.70) (0.70) (0.90) (4.40)
Per share ratios ()        
EPS (17) -- -- --
Dividend per share -- -- -- --
Cash EPS (28) (21) (27) (69)
Book value per share (99) (69) (56) (79)
Valuation ratios        
P/E (0.20) -- -- --
P/CEPS (0.10) (0.70) (0.80) (0.20)
P/B -- (0.20) (0.40) (0.20)
EV/EBIDTA (91) 39.80 53.80 847
Payout (%)        
Dividend payout -- -- -- --
Tax payout -- -- -- 4.48
Liquidity ratios        
Debtor days 20.20 18.40 36.40 31.90
Inventory days 41.20 38.10 58.50 65
Creditor days (66) (39) (67) (87)
Leverage ratios        
Interest coverage 8.82 1.65 1.86 0.29
Net debt / equity (3) (4.50) (6.20) (4.40)
Net debt / op. profit (70) 91.40 66.10 (448)
Cost breakup ()        
Material costs (73) (73) (68) (77)
Employee costs (7.40) (4) (4.70) (5.10)
Other costs (27) (21) (24) (19)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 683 2,067 1,559 1,303
yoy growth (%) (67) 32.60 19.60 1.79
Raw materials (500) (1,515) (1,057) (1,001)
As % of sales 73.20 73.30 67.80 76.80
Employee costs (51) (83) (73) (67)
As % of sales 7.39 4.04 4.70 5.12
Other costs (182) (429) (371) (244)
As % of sales 26.70 20.80 23.80 18.70
Operating profit (50) 39.50 58.10 (8.50)
OPM (7.30) 1.91 3.73 (0.70)
Depreciation (134) (151) (163) (143)
Interest expense (20) (34) (47) (475)
Other income 11.60 55.30 17.70 13.20
Profit before tax (192) (90) (133) (614)
Taxes -- -- -- (27)
Tax rate -- -- -- 4.48
Minorities and other -- 2.15 (1.70) 25.90
Adj. profit (192) (88) (135) (616)
Exceptional items -- -- -- --
Net profit (192) (88) (135) (616)
yoy growth (%) 119 (35) (78) 126
NPM (28) (4.20) (8.70) (47)
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax (192) (90) (133) (614)
Depreciation (134) (151) (163) (143)
Tax paid -- -- -- (27)
Working capital (191) 464 168 42.40
Other operating items -- -- -- --
Operating cashflow (517) 223 (128) (742)
Capital expenditure 2,442 2,371 2,054 1,518
Free cash flow 1,925 2,594 1,926 775
Equity raised (819) (688) (479) (397)
Investments 4.19 4.19 1.03 1.01
Debt financing/disposal 2,133 2,157 1,628 1,144
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 3,243 4,067 3,076 1,524
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 116 116 116 110
Preference capital -- -- -- --
Reserves (1,264) (1,071) (909) (725)
Net worth (1,148) (955) (793) (615)
Minority interest
Debt 3,479 3,517 3,629 3,885
Deferred tax liabilities (net) 576 567 0.29 449
Total liabilities 2,908 3,128 2,836 3,776
Fixed assets 2,970 3,101 3,233 3,448
Intangible assets
Investments 4.19 4.18 4.19 1.03
Deferred tax asset (net) 576 567 0.29 449
Net working capital (652) (548) (421) (164)
Inventories 32.80 102 122 310
Inventory Days 17.50 -- 21.50 72.50
Sundry debtors 9.08 33.20 66.60 141
Debtor days 4.85 -- 11.80 33.10
Other current assets 40.50 54.40 108 185
Sundry creditors (118) (131) (146) (287)
Creditor days 63.10 -- 25.70 67.20
Other current liabilities (616) (607) (571) (513)
Cash 9.41 4.54 19.70 42.10
Total assets 2,908 3,128 2,836 3,776
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Particulars ( Rupees In Crores.) Mar-2021 Mar-2020 Mar-2019 Mar-2018 Mar-2017
Gross Sales 976 683 1,414 2,100 1,670
Excise Duty -- -- -- 33 111
Net Sales 976 683 1,414 2,067 1,559
Other Operating Income -- -- -- -- --
Other Income 11.50 11.60 16 55.30 17.70
Total Income 988 695 1,430 2,122 1,577
Total Expenditure ** 2,040 733 1,440 2,027 1,501
PBIDT (1,052) (38) (9.60) 94.80 75.80
Interest 17 19.50 18.70 33.90 46.60
PBDT (1,069) (58) (28) 60.90 29.20
Depreciation 128 134 133 151 163
Minority Interest Before NP -- -- -- -- --
Tax -- -- -- -- --
Deferred Tax -- -- -- -- --
Reported Profit After Tax (1,197) (192) (162) (90) (133)
Minority Interest After NP -- -- -- (2.20) --
Net Profit after Minority Interest (1,197) (192) (162) (88) (133)
Extra-ordinary Items (1,056) -- -- -- --
Adjusted Profit After Extra-ordinary item (141) (192) (162) (88) (133)
EPS (Unit Curr.) (103) (17) (14) (8) (12)
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 116 116 116 116 110
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(%) (108) (5.60) (0.70) 4.59 4.86
PBDTM(%) (109) (8.50) (2) 2.95 1.87
PATM(%) (123) (28) (11) (4.30) (8.60)
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