Visa Steel Financial Statements

Visa Steel Nine Monthly 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 (6.70) (1.70) (2.40) (4)
RoNW 4.94 3.11 4.56 28.80
RoA (1.90) (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-2021 Mar-2020 Mar-2019 Mar-2018
Equity capital 116 116 116 116
Preference capital -- -- -- --
Reserves (2,462) (1,264) (1,071) (909)
Net worth (2,346) (1,148) (955) (793)
Minority interest
Debt 3,472 3,479 3,517 3,629
Deferred tax liabilities (net) -- -- 567 0.29
Total liabilities 1,126 2,332 3,128 2,836
Fixed assets 1,743 2,970 3,101 3,233
Intangible assets
Investments 4.19 4.19 4.18 4.19
Deferred tax asset (net) -- -- 567 0.29
Net working capital (631) (652) (548) (421)
Inventories 34.80 32.80 102 122
Inventory Days -- 17.50 -- 21.50
Sundry debtors -- 9.08 33.20 66.60
Debtor days -- 4.85 -- 11.80
Other current assets 60.90 40.50 54.40 108
Sundry creditors (89) (118) (131) (146)
Creditor days -- 63.10 -- 25.70
Other current liabilities (638) (616) (607) (571)
Cash 10.20 9.41 4.54 19.70
Total assets 1,126 2,332 3,128 2,836
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Particulars ( Rupees In Crores.) Dec-2020 Dec-2019 Dec-2018 Dec-2015 Dec-2014
Gross Sales 632 474 1,114 959 986
Excise Duty -- -- -- -- --
Net Sales 632 474 1,114 959 986
Other Operating Income -- -- -- 5.54 14.80
Other Income 8.34 9 14.40 11.90 14.40
Total Income 640 483 1,128 977 1,016
Total Expenditure ** 657 518 1,136 976 986
PBIDT (17) (35) (7.60) 0.73 29.20
Interest 12.30 15.10 13.90 349 150
PBDT (29) (50) (21) (349) (121)
Depreciation 96.80 101 101 107 52.10
Minority Interest Before NP -- -- -- -- --
Tax -- -- -- -- 0.78
Deferred Tax -- -- -- -- 1.41
Reported Profit After Tax (126) (151) (122) (456) (175)
Minority Interest After NP -- -- -- (19) (26)
Net Profit after Minority Interest (126) (151) (122) (437) (149)
Extra-ordinary Items -- -- -- -- (21)
Adjusted Profit After Extra-ordinary item (126) (151) (122) (437) (129)
EPS (Unit Curr.) (11) (13) (11) (40) (14)
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 116 116 116 110 110
Public Shareholding (Number) -- -- -- -- 27,500,000
Public Shareholding (%) -- -- -- -- 25
Pledged/Encumbered - No. of Shares -- -- -- -- 68,175,000
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- 82.60
Pledged/Encumbered - % in Total Equity -- -- -- -- 62
Non Encumbered - No. of Shares -- -- -- -- 14,325,000
Non Encumbered - % in Total Promoters Holding -- -- -- -- 17.40
Non Encumbered - % in Total Equity -- -- -- -- 13
PBIDTM(%) (2.60) (7.30) (0.70) 0.08 2.96
PBDTM(%) (4.60) (11) (1.90) (36) (12)
PATM(%) (20) (32) (11) (47) (18)
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