Welspun Corp Financial Statements

Welspun Corp Annually Results

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 32 27.90 (18) (14)
Op profit growth 69.70 33.40 (34) (7.70)
EBIT growth 198 28.70 (46) (2.90)
Net profit growth 301 499 (83) 120
Profitability ratios (%)        
OPM 11.60 9.06 8.69 10.70
EBIT margin 10.50 4.63 4.60 6.91
Net profit margin 6.38 2.10 0.45 2.10
RoCE 22 6.81 4.62 7.58
RoNW 5.24 1.40 0.24 1.36
RoA 3.35 0.77 0.11 0.58
Per share ratios ()        
EPS 25.10 5.77 0.38 6.76
Dividend per share 10.50 0.50 0.50 0.50
Cash EPS 15.40 (8.30) (14) (8.80)
Book value per share 123 108 106 106
Valuation ratios        
P/E 2.49 23.30 219 14.50
P/CEPS 4.05 (16) (6.10) (11)
P/B 0.51 1.25 0.78 0.93
EV/EBIDTA 1.70 5.94 5.81 5.30
Payout (%)        
Dividend payout -- 8.38 50.20 8.74
Tax payout (46) (6.80) (72) (31)
Liquidity ratios        
Debtor days 45.10 67.20 88.70 63.80
Inventory days 69.30 79.30 94.60 88.30
Creditor days (25) (20) (21) (23)
Leverage ratios        
Interest coverage (7.20) (1.90) (1.20) (2.10)
Net debt / equity 0.17 0.27 0.57 0.75
Net debt / op. profit 0.47 1.11 3.15 2.69
Cost breakup ()        
Material costs (66) (70) (68) (61)
Employee costs (6.40) (5.70) (7.30) (7.70)
Other costs (16) (15) (16) (20)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 9,957 7,543 5,899 7,236
yoy growth (%) 32 27.90 (18) (14)
Raw materials (6,535) (5,288) (4,040) (4,431)
As % of sales 65.60 70.10 68.50 61.20
Employee costs (637) (430) (431) (558)
As % of sales 6.39 5.70 7.30 7.71
Other costs (1,625) (1,142) (916) (1,469)
As % of sales 16.30 15.10 15.50 20.30
Operating profit 1,160 684 512 778
OPM 11.60 9.06 8.69 10.70
Depreciation (233) (379) (386) (386)
Interest expense (144) (185) (236) (241)
Other income 116 45.30 145 108
Profit before tax 899 164 35.90 258
Taxes (412) (11) (26) (79)
Tax rate (46) (6.80) (72) (31)
Minorities and other (57) 5.29 16.30 (27)
Adj. profit 429 158 26.40 152
Exceptional items -- -- -- --
Net profit 635 158 26.40 152
yoy growth (%) 301 499 (83) 120
NPM 6.38 2.10 0.45 2.10
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 899 164 35.90 258
Depreciation (233) (379) (386) (386)
Tax paid (412) (11) (26) (79)
Working capital 832 (416) (385) 166
Other operating items -- -- -- --
Operating cashflow 1,085 (643) (761) (41)
Capital expenditure (2,134) (3,869) (5,721) (2,733)
Free cash flow (1,050) (4,512) (6,482) (2,774)
Equity raised 5,749 6,574 8,191 5,247
Investments (657) (1,491) (1,142) (122)
Debt financing/disposal (786) (1,352) (2,102) 893
Dividends paid -- 13.30 13.30 13.30
Other items -- -- -- --
Net in cash 3,256 (767) (1,521) 3,257
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 130 133 133 133
Preference capital -- -- -- --
Reserves 3,085 2,665 2,721 2,677
Net worth 3,215 2,798 2,854 2,809
Minority interest
Debt 1,061 1,305 1,386 1,843
Deferred tax liabilities (net) 369 318 533 672
Total liabilities 4,659 4,415 4,830 5,438
Fixed assets 1,700 1,614 3,062 3,388
Intangible assets
Investments 784 476 488 725
Deferred tax asset (net) 102 100 190 292
Net working capital 1,560 1,555 462 803
Inventories 2,268 2,223 1,512 1,765
Inventory Days 83.10 -- 73.20 109
Sundry debtors 1,144 1,181 1,314 1,465
Debtor days 41.90 -- 63.60 90.70
Other current assets 1,534 2,036 689 674
Sundry creditors (681) (719) (544) (211)
Creditor days 25 -- 26.30 13
Other current liabilities (2,706) (3,165) (2,509) (2,890)
Cash 514 670 628 230
Total assets 4,659 4,415 4,830 5,438
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Particulars ( Rupees In Crores.) Mar-2021 Mar-2020 Mar-2019 Mar-2018 Mar-2017
Gross Sales 6,147 9,759 8,675 6,131 5,763
Excise Duty -- -- -- 16.30 137
Net Sales 6,147 9,759 8,675 6,114 5,627
Other Operating Income 293 198 278 233 272
Other Income 370 322 135 129 225
Total Income 6,810 10,279 9,088 6,476 6,123
Total Expenditure ** 5,676 8,835 8,550 5,874 5,466
PBIDT 1,134 1,444 538 602 658
Interest 67.60 144 177 170 236
PBDT 1,066 1,300 360 431 422
Depreciation 215 233 260 258 386
Minority Interest Before NP -- -- -- -- --
Tax 394 349 122 102 47.20
Deferred Tax (173) 63.90 0.65 (82) (21)
Reported Profit After Tax 631 654 (22) 153 10.10
Minority Interest After NP 11.80 18.60 (8.40) -- (16)
Net Profit after Minority Interest 619 635 (13) 153 26.40
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 619 635 (13) 153 26.40
EPS (Unit Curr.) 23.70 24.10 (0.50) 5.97 1
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 100 210 10 10 10
Equity 130 130 133 133 133
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(%) 18.40 14.80 6.20 9.84 11.70
PBDTM(%) 17.30 13.30 4.15 7.06 7.50
PATM(%) 10.30 6.70 (0.20) 2.50 0.18
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