Welspun Enterprises Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth 69.40 249 62.40 (77)
Op profit growth 162 (369) (36) 388
EBIT growth 77.40 235 75.10 (215)
Net profit growth 114 1,300 687 (6.60)
Profitability ratios (%)        
OPM 11.60 7.51 (9.70) (25)
EBIT margin 16.50 15.80 16.50 15.30
Net profit margin 8.24 6.51 1.62 0.34
RoCE 14.20 10.40 3.38 1.62
RoNW 2.55 1.34 0.09 0.01
RoA 1.77 1.07 0.08 0.01
Per share ratios ()        
EPS 10.20 4.71 0.34 0.04
Dividend per share 2 1.50 0.75 --
Cash EPS 8.51 3.11 (1.10) (1.50)
Book value per share 106 90.70 85.40 81.60
Valuation ratios        
P/E 4.02 30 246 1,181
P/CEPS 4.81 45.50 (77) (31)
P/B 0.38 1.56 0.98 0.58
EV/EBIDTA 3.95 12.80 15.10 15.70
Payout (%)        
Dividend payout -- 31.90 223 --
Tax payout (23) (34) (25) 28.90
Liquidity ratios        
Debtor days 22.30 9.09 33.80 68.70
Inventory days 0.14 0.63 3.55 6.50
Creditor days (57) (52) (47) (31)
Leverage ratios        
Interest coverage (3.90) (5.10) (4.90) (2.20)
Net debt / equity 0.42 0.29 (0.10) 0.04
Net debt / op. profit 3.16 4.77 5.25 (1.20)
Cost breakup ()        
Material costs (0.50) (1.30) (23) (58)
Employee costs (4.80) (4.80) (9.80) (15)
Other costs (83) (86) (77) (51)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 1,808 1,067 305 188
yoy growth (%) 69.40 249 62.40 (77)
Raw materials (8.60) (14) (70) (109)
As % of sales 0.48 1.33 22.80 58.10
Employee costs (87) (52) (30) (29)
As % of sales 4.82 4.84 9.79 15.40
Other costs (1,502) (921) (236) (96)
As % of sales 83.10 86.30 77.20 51.30
Operating profit 210 80.10 (30) (47)
OPM 11.60 7.51 (9.70) (25)
Depreciation (23) (24) (21) (27)
Interest expense (77) (33) (10) (13)
Other income 112 112 101 103
Profit before tax 222 135 40.10 15.90
Taxes (52) (46) (10) 4.60
Tax rate (23) (34) (25) 28.90
Minorities and other (2.30) -- -- --
Adj. profit 168 89 30 20.50
Exceptional items -- (20) (23) (23)
Net profit 149 69.40 4.96 0.63
yoy growth (%) 114 1,300 687 (6.60)
NPM 8.24 6.51 1.62 0.34
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax 222 135 40.10 15.90
Depreciation (23) (24) (21) (27)
Tax paid (52) (46) (10) 4.60
Working capital 220 (90) 133 30.50
Other operating items -- -- -- --
Operating cashflow 368 (24) 142 23.70
Capital expenditure 65.40 (592) (546) (529)
Free cash flow 433 (617) (405) (505)
Equity raised 1,862 1,726 1,705 1,799
Investments 803 1,113 627 1,019
Debt financing/disposal 381 93.70 (57) (202)
Dividends paid -- 22.10 11.10 --
Other items -- -- -- --
Net in cash 3,479 2,338 1,882 2,111
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 148 148 148 147
Preference capital -- -- -- --
Reserves 1,431 1,306 1,191 1,111
Net worth 1,579 1,454 1,339 1,258
Minority interest
Debt 812 592 460 150
Deferred tax liabilities (net) 6.18 7.53 2.02 27.30
Total liabilities 2,398 2,053 1,801 1,436
Fixed assets 171 201 90.70 174
Intangible assets
Investments 948 933 1,118 801
Deferred tax asset (net) 21.70 12.40 9.08 26.90
Net working capital 1,109 757 505 127
Inventories 0.68 0.73 0.71 2.96
Inventory Days 0.14 -- 0.24 3.54
Sundry debtors 187 281 34 19.20
Debtor days 37.70 -- 11.60 22.90
Other current assets 1,646 1,320 871 317
Sundry creditors (282) (574) (215) (65)
Creditor days 56.90 -- 73.50 77.20
Other current liabilities (443) (270) (186) (147)
Cash 149 150 77.60 307
Total assets 2,398 2,053 1,801 1,436
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Particulars ( Rupees In Crores.) Jun-2020 Mar-2020 Dec-2019 Sep-2019 Jun-2019
Gross Sales 190 471 504 310 523
Excise Duty -- -- -- -- --
Net Sales 190 471 504 310 523
Other Operating Income -- -- -- -- --
Other Income 31.80 53 32.60 33.80 17.40
Total Income 222 524 537 343 540
Total Expenditure ** 171 405 465 292 477
PBIDT 50.40 118 72.20 51.70 63.20
Interest 21.70 24.60 18.40 19 18.20
PBDT 28.70 93.70 53.80 32.70 45.10
Depreciation 3.87 4.08 5.68 6.87 5.91
Minority Interest Before NP -- -- -- -- --
Tax 3.75 20.60 13.90 3.53 20.80
Deferred Tax 1.04 (20) 6.43 7.87 (1.50)
Reported Profit After Tax 20 89.10 27.80 14.50 19.80
Minority Interest After NP 0.19 (1.60) 1.71 0.03 0.01
Net Profit after Minority Interest 19.80 90.70 26.10 14.40 19.80
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 19.80 90.70 26.10 14.40 19.80
EPS (Unit Curr.) 1.32 6.11 1.76 0.98 1.34
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 149 148 148 148 148
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(%) 26.50 25.10 14.30 16.70 12.10
PBDTM(%) 15.10 19.90 10.70 10.60 8.62
PATM(%) 10.50 18.90 5.50 4.67 3.79