Financial Data Report for the period ending 30.Sep.2015
INDUSTRY Equity Statistics Particulars Units 15-Sep-15 Current Market Price MUR 116.50 52 week H/L* MUR 140.00 / 116.50 Market Capitalisation MUR Mn 3,416.04 P/B Times 6.72 P/E Times 22.15 Dividend Yield % 4.29 *The 52W/H 52W/L prices are not adjusted to cater for Share Splits/Bonus Issues/Rights Issues and other corporate actions taking place within the 52 week period. Value Traded (MUR 000) 14000 12737 12000 10000 8000 8149 6605 6587 6000 4000 4045 2783 4376 3316 3215 5095 5092 2000 0 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 944 Period 3 Months 6 Months 1 Year 3 Years Stock Returns (%) Stock Returns Index Returns Relative Return (33.07) (10.06) (23.01) (32.68) (5.54) (27.13) (16.79) (9.49) (7.29) (9.80) 4.33 (14.12) Page 2
Shareholding Pattern (%) (31.12.2014) 0.46 0.29 VIVO ENERGY MAURITIUS HOLDINGS B.V. 0.77 0.93 2.55 0.47 0.56 16.82 NATIONAL PENSIONS FUND MR LIMBERG LAM PO TANG MR LIM KWAT CHOW LAM PO TANG 77.15 STATE INSURANCE COMPANY OF MAURITIUS LTD SECTIONS ROLLING LIMITED MR N J P MAURICE RAFFRAY NATIONAL SAVINGS FUND Others Annual Financial Snapshot Income Statement Year Ended 31-Dec-11 31-Dec-12 31-Dec-13 31-Dec-14 Total Income (MUR Mn) 12,392.70 12,694.70 13,207.23 12,845.60 Growth in Total Income (%) 2.44 4.04-2.74 Operating Revenue (MUR Mn) 12,313.30 12,595.24 13,148.45 12,784.10 Growth in Operating Revenue (%) 2.29 4.39-2.77 Per Share Data (MUR) Year Ended 31-Dec-12 31-Dec-13 31-Dec-14 BVPS 16.11 11.68 16.30 17.34 Diluted EPS 11.08 6.31 7.59 5.26 Key Financial Ratios Year Ended 31-Dec-12 31-Dec-13 31-Dec-14 EBITDA Margin (%) 4.03 2.60 2.56 2.16 PAT Margin (%) 2.64 1.47 1.69 1.21 PAT Margin on Total Income (%) 2.62 1.46 1.69 1.20 RoCE (%) NM/NA 31.34 34.41 21.25 RoE (%) NM/NA 45.43 54.27 31.29 Debt to Equity (times) 0.42 1.14 0.01 0.82 Interest Coverage (times) 16.32 19.73 24.32 19.04 Quarterly Financials Sep-15 Sep-14 Jun-15 Growth Growth Income Statement (MUR Mn) Y-o-Y (%) Q-o-Q (%) Total Income 2,617.24 3,262.87 2,640.12-19.79-0.87 EBITDA 71.38 74.87 105.77-4.66-32.52 Depreciation - - - NM/NA NM/NA EBIT 71.38 74.87 105.77-4.66-32.52 Interest 3.74 1.20 0.46 213.31 721.05 PBT 72.02 76.63 108.52-6.02-33.63 PAT 60.25 63.75 90.78-5.50-33.63 Per Share Data (MUR) Sep-15 Sep-14 Jun-15 Diluted EPS 2.05 2.17 3.10 Profitability Ratio (%) Sep-15 Sep-14 Jun-15 EBITDA Margin 2.73 2.29 4.01 PAT Margin 2.30 1.95 3.44 Page 3
Annual Financial Statistics Income Statement (MUR Mn) Year Ended 31-Dec-12 31-Dec-13 31-Dec-14 Operating Revenue (Includes Other Operating Revenue) 12,313.30 12,595.24 13,148.45 12,784.10 Other Income (Includes changes in fair value, extraordinary & exceptional items or any other income from non-operating source) 79.40 99.45 58.78 61.50 Total Income (Operating + Other income) 12,392.70 12,694.70 13,207.23 12,845.60 Cost of Sales / Operating Expenses 11,884.84 12,349.04 12,861.24 12,558.21 EBITDA 496.45 327.14 335.96 276.03 Depreciation, Amortization & Impairments 83.48 82.30 81.24 94.35 EBIT 412.97 244.84 254.71 181.68 Interest Expenses 25.30 12.41 10.47 9.54 PBT 399.08 250.94 254.27 183.50 PAT 324.86 185.11 222.68 154.33 Balance Sheet (MUR Mn) Year Ended 31-Dec-12 31-Dec-13 31-Dec-14 No. of Shares (Number) 29,322,252 29,322,252 29,322,252 29,322,252 Total Equity 472.35 342.62 477.96 508.54 Long Term Debt - - - - Non Current Liabilities - 43.76 108.36 81.72 Short Term Debt 196.82 391.28 6.37 416.57 Current Liabilities 1,963.33 1,811.43 2,561.12 1,634.49 DTL 55.02 60.57 49.47 60.62 Total Equity & Liabilities 2,687.52 2,649.66 3,203.28 2,701.93 Tangible Assets 668.81 779.45 821.96 908.68 Intangible Assets - - - - Investment 25.71 18.53 18.13 35.81 Non Current Assets 47.66 0.78 10.90 12.03 Long Term Receivables - - - - Cash & Bank Balance 30.07 14.74 183.39 55.99 Trade Receivable 1,148.63 1,044.22 1,173.45 1,018.89 DTA - - - - Inventories 766.66 787.53 995.45 666.95 Other Current Assets - 4.39-3.59 Total Assets 2,687.52 2,649.66 3,203.28 2,701.93 Total Current Assets 1,945.35 1,850.89 2,352.29 1,745.41 Total Current Liabilities 2,160.15 2,202.71 2,567.49 2,051.06 Trade Receivable (Non Current+Current) 1,148.63 1,044.22 1,173.45 1,018.89 Capital Employed 724.19 838.23 642.16 1,067.45 Tangible Networth 472.35 342.62 477.96 508.54 Page 4
Annual Financial Statistics (cont..) Per Share Data (MUR) Year Ended 31-Dec-12 31-Dec-13 31-Dec-14 BVPS 16.11 11.68 16.30 17.34 Diluted EPS 11.08 6.31 7.59 5.26 DPS 11.10 8.10 1.00 5.00 Growth Y-o-Y (%) Year Ended 31-Dec-12 31-Dec-13 31-Dec-14 Growth in Total Income 2.44 4.04-2.74 Growth in EBITDA -34.10 2.69-17.84 Growth in PAT -43.02 20.29-30.69 Growth in EPS -43.05 20.29-30.70 Key ratios Year Ended 31-Dec-12 31-Dec-13 31-Dec-14 EBITDA Margin (%) 4.03 2.60 2.56 2.16 PAT Margin (%) 2.64 1.47 1.69 1.21 PAT Margin on Total Income (%) 2.62 1.46 1.69 1.20 RoCE (%) NM/NA 31.34 34.41 21.25 RoE (%) NM/NA 45.43 54.27 31.29 Debt - Equity (times) 0.42 1.14 0.01 0.82 Interest Coverage (times) 16.32 19.73 24.32 19.04 Current Ratio (times) 0.90 0.84 0.92 0.85 Inventory Days 11.77 22.97 25.30 24.16 Receivable Days 17.02 31.77 30.78 31.30 Result Analysis Total Income for the quarter ended September 30, 2015 decreased by 19.79% compared to the same period previous year. Company reported a Profit of MUR 60.25 Mn for the quarter ended September 30, 2015. The company reported a profit of MUR 154.33 Mn for the year ended December 31, 2014. For further information, please read the explanatory note giving the definition and interpretation of the ratios and data along with the report. Contact: Saurav Chatterjee saurav.chatterjee@careratingsafrica.com +230-58626551 CARE Ratings (Africa) Private Limited Amit Ramsohoy amit.ramsohoy@careratingsafrica.com +230-59553060 CARE Ratings (Africa) Private Limited Disclaimer This report is prepared by CARE Ratings (Africa) Private Limited (CRAF). CRAF has taken utmost care to ensure accuracy and objectivity while developing this report based on information available in public domain. However, neither the accuracy nor completeness of information contained in this report is guaranteed by CRAF or by the Stock Exchange of Mauritius Ltd (SEM). SEM and CRAF make no representations, give no warranty and disclaim all liability in respect thereof and shall not be held liable for any damage, loss or cost incurred resulting from any error in the information or any use of or reliance on the said information. SEM and CRAF are not responsible for any errors or omissions in analysis/inferences/views or for results obtained from the use of information contained in this report and especially state that SEM and CRAF has no financial liability whatsoever to the user of this report. Appropriate independent advice should be obtained before making any investment or relying on the contents contained in this report. Page 5