VISASTEEL Financial Statements

VISASTEEL Annual Results

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Y/e 31 Mar Mar-2021 Mar-2020 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth 42.90 (67) 32.60 19.60
Op profit growth (86) (226) (32) (783)
EBIT growth (28) 209 (36) (37)
Net profit growth 524 119 (35) (78)
Profitability ratios (%)        
OPM (0.70) (7.30) 1.91 3.73
EBIT margin (13) (25) (2.70) (5.60)
Net profit margin (123) (28) (4.20) (8.70)
RoCE (7.10) (6.70) (1.70) (2.40)
RoNW 17.10 4.94 3.11 4.56
RoA (17) (1.90) (0.70) (0.90)
Per share ratios ()        
EPS (103) (17) -- --
Dividend per share -- -- -- --
Cash EPS (114) (28) (21) (27)
Book value per share (203) (99) (69) (56)
Valuation ratios        
P/E (0.10) (0.20) -- --
P/CEPS (0.10) (0.10) (0.70) (0.80)
P/B -- -- (0.20) (0.40)
EV/EBIDTA 790 (91) 39.80 53.80
Payout (%)        
Dividend payout -- -- -- --
Tax payout -- -- -- --
Liquidity ratios        
Debtor days 1.70 20.20 18.40 36.40
Inventory days 12.60 41.20 38.10 58.50
Creditor days (38) (66) (39) (67)
Leverage ratios        
Interest coverage 7.30 8.82 1.65 1.86
Net debt / equity (1.50) (3) (4.50) (6.20)
Net debt / op. profit (500) (70) 91.40 66.10
Cost breakup ()        
Material costs (66) (73) (73) (68)
Employee costs (4.20) (7.40) (4) (4.70)
Other costs (30) (27) (21) (24)
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Y/e 31 Mar( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Revenue 976 683 2,067 1,559
yoy growth (%) 42.90 (67) 32.60 19.60
Raw materials (647) (500) (1,515) (1,057)
As % of sales 66.30 73.20 73.30 67.80
Employee costs (41) (51) (83) (73)
As % of sales 4.17 7.39 4.04 4.70
Other costs (296) (182) (429) (371)
As % of sales 30.30 26.70 20.80 23.80
Operating profit (7) (50) 39.50 58.10
OPM (0.70) (7.30) 1.91 3.73
Depreciation (128) (134) (151) (163)
Interest expense (17) (20) (34) (47)
Other income 11.40 11.60 55.30 17.70
Profit before tax (141) (192) (90) (133)
Taxes -- -- -- --
Tax rate -- -- -- --
Minorities and other -- -- 2.15 (1.70)
Adj. profit (141) (192) (88) (135)
Exceptional items (1,056) -- -- --
Net profit (1,197) (192) (88) (135)
yoy growth (%) 524 119 (35) (78)
NPM (123) (28) (4.20) (8.70)
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Profit before tax (141) (192) (90) (133)
Depreciation (128) (134) (151) (163)
Tax paid -- -- -- --
Working capital (168) 253 (83) 139
Other operating items -- -- -- --
Operating cashflow (438) (73) (323) (157)
Capital expenditure 2,433 2,380 1,952 1,943
Free cash flow 1,995 2,307 1,629 1,786
Equity raised (1,013) (938) (705) (627)
Investments 4.19 4.19 4.19 1.02
Debt financing/disposal 2,140 2,007 1,372 1,193
Dividends paid -- -- -- --
Other items -- -- -- --
Net in cash 3,127 3,381 2,300 2,353
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Y/e 31 Mar ( In .Cr) Mar-2022 Mar-2021 Mar-2020 Mar-2019
Equity capital 116 116 116 116
Preference capital -- -- -- --
Reserves (2,549) (2,462) (1,264) (1,071)
Net worth (2,433) (2,346) (1,148) (955)
Minority interest
Debt 3,481 3,486 3,479 3,517
Deferred tax liabilities (net) -- -- -- 567
Total liabilities 1,048 1,140 2,332 3,128
Fixed assets 1,664 1,743 2,970 3,101
Intangible assets
Investments 4.20 4.19 4.19 4.18
Deferred tax asset (net) -- -- -- 567
Net working capital (634) (617) (652) (548)
Inventories 30.60 34.80 32.80 102
Inventory Days -- 13 17.50 --
Sundry debtors -- -- 9.08 33.20
Debtor days -- -- 4.85 --
Other current assets 54.90 60.90 40.50 54.40
Sundry creditors (65) (89) (118) (131)
Creditor days -- 33.10 63.10 --
Other current liabilities (655) (624) (616) (607)
Cash 13.60 10.20 9.41 4.54
Total assets 1,048 1,140 2,332 3,128
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Particulars ( Rupees In Crores.) Mar-2022 Mar-2021 Mar-2020 Mar-2019 Mar-2018
Gross Sales 1,118 988 683 1,414 2,100
Excise Duty -- -- -- -- 33
Net Sales 1,118 988 683 1,414 2,067
Other Operating Income -- -- -- -- --
Other Income 1.25 0.78 11.60 16 55.30
Total Income 1,120 989 695 1,430 2,122
Total Expenditure ** 1,101 2,041 733 1,440 2,027
PBIDT 19.10 (1,052) (38) (9.60) 94.80
Interest 20.80 17 19.50 18.70 33.90
PBDT (1.80) (1,069) (58) (28) 60.90
Depreciation 85.50 128 134 133 151
Minority Interest Before NP -- -- -- -- --
Tax -- -- -- -- --
Deferred Tax -- -- -- -- --
Reported Profit After Tax (87) (1,197) (192) (162) (90)
Minority Interest After NP -- -- -- -- (2.20)
Net Profit after Minority Interest (87) (1,197) (192) (162) (88)
Extra-ordinary Items -- (1,056) -- -- --
Adjusted Profit After Extra-ordinary item (87) (141) (192) (162) (88)
EPS (Unit Curr.) (7.50) (103) (17) (14) (8)
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 116 116 116 116 116
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(%) 1.71 (106) (5.60) (0.70) 4.59
PBDTM(%) (0.20) (108) (8.50) (2) 2.95
PATM(%) (7.80) (121) (28) (11) (4.30)
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