Wockhardt Financial Statements

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Y/e 31 Mar Mar-2020 Mar-2018 Mar-2017 Mar-2016
Growth matrix (%)        
Revenue growth (28) (1.90) (9.80) (0.60)
Op profit growth 6,404 (86) (97) (30)
EBIT growth 141 25.50 (105) (34)
Net profit growth (89) 211 (178) (38)
Profitability ratios (%)        
OPM 4.19 0.05 0.32 11.10
EBIT margin (2.30) (0.70) (0.50) 9.40
Net profit margin (2.40) (15) (4.90) 5.63
RoCE (0.90) (0.40) (0.30) 6.32
RoNW (0.60) (4.90) (1.40) 1.67
RoA (0.20) (2) (0.60) 0.95
Per share ratios ()        
EPS -- -- -- 22.80
Dividend per share -- -- 10 --
Cash EPS (26) (69) (31) 9.85
Book value per share 241 258 302 342
Valuation ratios        
P/E -- -- -- 42.70
P/CEPS (6.50) (11) (23) 98.80
P/B 0.72 2.82 2.39 2.85
EV/EBIDTA 32.70 87.70 82.80 21.30
Payout (%)        
Dividend payout -- -- (56) --
Tax payout (60) 9.08 (8.50) (13)
Liquidity ratios        
Debtor days 142 92.60 97.50 75.90
Inventory days 99.20 91 100 87
Creditor days (104) (56) (57) (58)
Leverage ratios        
Interest coverage 0.24 0.11 0.10 (3.20)
Net debt / equity 1.22 0.93 0.77 0.32
Net debt / op. profit 27.30 1,457 200 2.42
Cost breakup ()        
Material costs (42) (46) (41) (36)
Employee costs (26) (24) (24) (21)
Other costs (27) (30) (34) (31)
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Y/e 31 Mar( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Revenue 2,844 3,937 4,015 4,453
yoy growth (%) (28) (1.90) (9.80) (0.60)
Raw materials (1,203) (1,798) (1,662) (1,614)
As % of sales 42.30 45.70 41.40 36.20
Employee costs (743) (937) (967) (951)
As % of sales 26.10 23.80 24.10 21.40
Other costs (778) (1,200) (1,373) (1,395)
As % of sales 27.40 30.50 34.20 31.30
Operating profit 119 1.83 12.80 494
OPM 4.19 0.05 0.32 11.10
Depreciation (224) (150) (149) (142)
Interest expense (276) (255) (225) (129)
Other income 38.80 120 114 66.10
Profit before tax (342) (283) (247) 289
Taxes 204 (26) 21.10 (38)
Tax rate (60) 9.08 (8.50) (13)
Minorities and other 68.70 58.60 30.30 (0.90)
Adj. profit (69) (250) (196) 251
Exceptional items -- (358) -- --
Net profit (69) (608) (196) 251
yoy growth (%) (89) 211 (178) (38)
NPM (2.40) (15) (4.90) 5.63
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2018 Mar-2017 Mar-2016
Profit before tax (342) (283) (247) 289
Depreciation (224) (150) (149) (142)
Tax paid 204 (26) 21.10 (38)
Working capital 327 884 815 1,023
Other operating items -- -- -- --
Operating cashflow (35) 426 440 1,133
Capital expenditure 1,607 1,561 1,161 783
Free cash flow 1,572 1,986 1,601 1,916
Equity raised 2,084 3,299 5,640 6,399
Investments (89) 123 560 (576)
Debt financing/disposal 148 1,113 2,931 1,970
Dividends paid -- -- 111 --
Other items -- -- -- --
Net in cash 3,715 6,521 10,843 9,709
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Y/e 31 Mar ( In .Cr) Mar-2020 Mar-2019 Mar-2018 Mar-2017
Equity capital 55.40 55.30 55.30 55.30
Preference capital -- 234 -- --
Reserves 2,616 2,619 2,797 3,281
Net worth 2,672 2,909 2,852 3,337
Minority interest
Debt 3,520 3,141 3,748 4,160
Deferred tax liabilities (net) 164 139 304 301
Total liabilities 6,741 6,518 7,249 8,179
Fixed assets 5,087 4,503 4,321 4,017
Intangible assets
Investments 0.45 0.45 214 563
Deferred tax asset (net) 562 381 453 434
Net working capital 823 1,185 1,180 1,562
Inventories 690 819 856 1,108
Inventory Days 88.50 -- 79.30 101
Sundry debtors 1,243 1,274 962 1,034
Debtor days 159 -- 89.20 94.10
Other current assets 461 525 544 524
Sundry creditors (915) (867) (631) (568)
Creditor days 117 -- 58.50 51.70
Other current liabilities (656) (567) (551) (535)
Cash 268 449 1,082 1,604
Total assets 6,741 6,518 7,249 8,179
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Particulars ( Rupees In Crores.) Mar-2020 Mar-2019 Mar-2018 Mar-2017 Mar-2016
Gross Sales 2,844 3,566 3,937 4,015 4,453
Excise Duty -- -- -- -- --
Net Sales 2,844 3,566 3,937 4,015 4,453
Other Operating Income -- -- -- -- --
Other Income 133 116 120 114 66.10
Total Income 2,977 3,682 4,057 4,129 4,519
Total Expenditure ** 2,725 3,604 4,293 4,002 3,959
PBIDT 252 77.70 (236) 127 560
Interest 276 265 255 225 129
PBDT (23) (187) (492) (98) 431
Depreciation 224 164 150 149 142
Minority Interest Before NP -- -- -- -- --
Tax (45) (42) 50.80 10.40 30.40
Deferred Tax (159) (93) (25) (31) 7.44
Reported Profit After Tax (43) (217) (667) (226) 252
Minority Interest After NP 25.80 (22) -- (30) 1.51
Net Profit after Minority Interest (69) (195) (667) (196) 251
Extra-ordinary Items -- -- (330) -- --
Adjusted Profit After Extra-ordinary item (69) (195) (337) (196) 251
EPS (Unit Curr.) (6.30) (44) (55) (18) 22.70
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- 200 --
Equity 55.40 55.30 55.30 55.30 55.30
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(%) 8.87 2.18 (6) 3.16 12.60
PBDTM(%) (0.80) (5.30) (12) (2.40) 9.69
PATM(%) (1.50) (6.10) (17) (5.60) 5.65