Welspun Corp Financial Statements

Welspun Corp Cash Flow

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Y/e 31 Mar Mar-2021 Mar-2020 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth (35) 32 27.90 (18)
Op profit growth (33) 69.70 33.40 (34)
EBIT growth (24) 198 28.70 (46)
Net profit growth (2.60) 301 499 (83)
Profitability ratios (%)        
OPM 12 11.60 9.06 8.69
EBIT margin 12.40 10.50 4.63 4.60
Net profit margin 9.61 6.38 2.10 0.45
RoCE 16.80 22 6.81 4.62
RoNW 4.41 5.24 1.40 0.24
RoA 3.26 3.35 0.77 0.11
Per share ratios ()        
EPS 24.20 25.10 5.77 0.38
Dividend per share 5 10.50 0.50 0.50
Cash EPS 15.50 15.40 (8.30) (14)
Book value per share 145 123 108 106
Valuation ratios        
P/E 5.76 2.49 23.30 219
P/CEPS 8.98 4.05 (16) (6.10)
P/B 0.96 0.51 1.25 0.78
EV/EBIDTA 4.18 1.70 5.94 5.81
Payout (%)        
Dividend payout -- -- 8.38 50.20
Tax payout (30) (46) (6.80) (72)
Liquidity ratios        
Debtor days 53.90 46.90 67.20 88.70
Inventory days 93.80 69.30 79.30 94.60
Creditor days (34) (25) (20) (21)
Leverage ratios        
Interest coverage (12) (7.20) (1.90) (1.20)
Net debt / equity 0.16 0.17 0.27 0.57
Net debt / op. profit 0.76 0.47 1.11 3.15
Cost breakup ()        
Material costs (67) (66) (70) (68)
Employee costs (6.50) (6.40) (5.70) (7.30)
Other costs (14) (16) (15) (16)
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Y/e 31 Mar( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Revenue 6,440 9,957 7,543 5,899
yoy growth (%) (35) 32 27.90 (18)
Raw materials (4,317) (6,535) (5,288) (4,040)
As % of sales 67 65.60 70.10 68.50
Employee costs (418) (637) (430) (431)
As % of sales 6.49 6.39 5.70 7.30
Other costs (931) (1,625) (1,142) (916)
As % of sales 14.50 16.30 15.10 15.50
Operating profit 774 1,160 684 512
OPM 12 11.60 9.06 8.69
Depreciation (215) (233) (379) (386)
Interest expense (68) (144) (185) (236)
Other income 235 116 45.30 145
Profit before tax 728 899 164 35.90
Taxes (221) (412) (11) (26)
Tax rate (30) (46) (6.80) (72)
Minorities and other (23) (57) 5.29 16.30
Adj. profit 484 429 158 26.40
Exceptional items -- -- -- --
Net profit 619 635 158 26.40
yoy growth (%) (2.60) 301 499 (83)
NPM 9.61 6.38 2.10 0.45
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Profit before tax 728 899 164 35.90
Depreciation (215) (233) (379) (386)
Tax paid (221) (412) (11) (26)
Working capital 86.60 530 (342) (204)
Other operating items -- -- -- --
Operating cashflow 379 783 (568) (580)
Capital expenditure (1,975) (5,138) (5,653) (2,726)
Free cash flow (1,596) (4,355) (6,221) (3,306)
Equity raised 6,344 6,445 8,104 5,383
Investments 262 (1,195) (1,380) (415)
Debt financing/disposal (1,018) (1,678) (2,558) 92.60
Dividends paid -- -- 13.30 13.30
Other items -- -- -- --
Net in cash 3,991 (783) (2,042) 1,768
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Equity capital 131 130 133 133
Preference capital -- -- -- --
Reserves 3,662 3,085 2,665 2,721
Net worth 3,794 3,215 2,798 2,854
Minority interest
Debt 829 1,061 1,305 1,386
Deferred tax liabilities (net) 179 369 318 533
Total liabilities 4,827 4,659 4,415 4,830
Fixed assets 1,756 1,700 1,614 3,062
Intangible assets
Investments 1,702 784 476 488
Deferred tax asset (net) 90.60 102 100 190
Net working capital 1,037 1,560 1,555 462
Inventories 1,040 2,268 2,223 1,512
Inventory Days 59 83.10 -- 73.20
Sundry debtors 656 1,247 1,181 1,314
Debtor days 37.20 45.70 -- 63.60
Other current assets 1,107 1,431 2,036 689
Sundry creditors (373) (681) (719) (544)
Creditor days 21.10 25 -- 26.30
Other current liabilities (1,392) (2,706) (3,165) (2,509)
Cash 240 514 670 628
Total assets 4,827 4,659 4,415 4,830
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Particulars ( Rupees In Crores.) Jun-2021 Mar-2021 Dec-2020 Sep-2020 Jun-2020
Gross Sales 1,242 1,727 1,311 1,095 2,014
Excise Duty -- -- -- -- --
Net Sales 1,242 1,727 1,311 1,095 2,014
Other Operating Income 56.60 92.10 82.80 63.20 55
Other Income 40.10 90.60 153 116 39
Total Income 1,339 1,910 1,547 1,274 2,108
Total Expenditure ** 1,134 1,614 1,207 990 1,895
PBIDT 205 296 340 284 214
Interest 16.90 11.30 13.40 14.90 28.10
PBDT 188 285 326 269 186
Depreciation 54.60 55 54.20 52 53.40
Minority Interest Before NP -- -- -- -- --
Tax 49 134 55 59.70 145
Deferred Tax (13) (121) 11.20 3.72 (67)
Reported Profit After Tax 97.30 217 206 154 53.90
Minority Interest After NP (0.20) (1.90) 7.10 4.59 2.03
Net Profit after Minority Interest 97.50 219 199 149 51.90
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 97.50 219 199 149 51.90
EPS (Unit Curr.) 3.74 8.38 7.63 5.72 2
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 130 130 130 130 130
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(%) 16.50 17.20 25.90 26 10.60
PBDTM(%) 15.10 16.50 24.90 24.60 9.21
PATM(%) 7.83 12.60 15.70 14.10 2.68
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