Financial Data Report (THE GROUP) for the period ending 31.Dec.2015
INVESTMENT Equity Statistics Particulars Units 31-Mar-16 Current Market Price MUR 27.75 52 week H/L* MUR 32.50 / 26.90 Market Capitalisation MUR Mn 6,994.26 P/B Times 0.49 P/E Times 12.85 Dividend Yield % 3.03 *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. 35000 Value Traded (MUR 000) 30000 29420 25000 20000 23261 17339 24983 21078 17420 15000 10000 5000 7723 12632 11259 5364 10709 9003 0 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Period 3 Months 6 Months 1 Year 3 Years Stock Returns (%) Stock Returns Index Returns Relative Return 3.64 (3.07) 6.71 (8.62) (11.86) 3.24 (6.57) (9.01) 2.45 17.21 (1.86) 19.08 Page 2
INVESTMENT Shareholding Pattern (%) (30.06.2015) 14.38 5.92 64.95 10.54 4.22 Individuals Insurance and Assurance Companies Pensions and Provident Funds Investment and Trust Companies Other Corporate Bodies Annual Financial Snapshot Income Statement Year Ended 30-Sep-12 30-Jun-13 30-Jun-14 30-Jun-15 Total Income (MUR Mn) 7,167.10 6,840.90 6,935.40 8,093.90 Growth in Total Income (%) -4.55 1.38 16.70 Operating Revenue (MUR Mn) 6,459.00 4,911.10 6,187.00 7,151.00 Growth in Operating Revenue (%) -23.97 25.98 15.58 Per Share Data (MUR) Year Ended 30-Jun-13 30-Jun-14 30-Jun-15 BVPS 342.12 441.85 550.25 56.68 Diluted EPS 46.3 69.46 1.85 2.16 Key Financial Ratios Year Ended 30-Jun-13 30-Jun-14 30-Jun-15 EBITDA Margin (%) 9.91 19.65 21.63 23.29 PAT Margin (%) 17.94 40.23 12.45 14.68 PAT Margin on Total Income (%) 16.17 28.88 11.11 12.97 RoCE (%) NM/NA 5.33 6.16 7.36 RoE (%) NM/NA 20.00 6.16 7.46 Debt to Equity (times) 0.32 0.27 0.28 0.30 Interest Coverage (times) 1.15 4.19 3.71 4.76 Quarterly Financials Dec-15 Dec-14 Sep-15 Growth Growth Income Statement (MUR Mn) Y-o-Y (%) Q-o-Q (%) Total Income 2,300.40 2,245.20 2,052.0 2.46 12.1 EBITDA 449.80 540.50 173.5-16.78 159.3 Depreciation - - - NM/NA NM/NA EBIT 449.80 540.50 173.50-16.78 159.3 Interest 137.30 72.70 141.6 88.86-3.0 PBT 321.00 458.50 132.6-29.99 142.1 PAT 286.20 406.50 103.7-29.59 176.0 Per Share Data (MUR) Dec-15 Dec-14 Sep-15 Diluted EPS 0.88 1.03 0.11 Profitability Ratio (%) Dec-15 Dec-14 Sep-15 EBITDA Margin 19.55 24.07 8.46 PAT Margin 12.44 18.11 5.05 Page 3
INVESTMENT Annual Financial Statistics Income Statement (MUR Mn) Year Ended 30-Jun-13 30-Jun-14 30-Jun-15 Operating Revenue (Includes Other Operating Revenue) 6,459.00 4,911.10 6,187.00 7,151.00 Other Income (Includes changes in fair value, extraordinary & exceptional items or any other income from non-operating source) 708.10 1,929.80 748.40 942.90 Total Income (Operating + Other income) 7,167.10 6,840.90 6,935.40 8,093.90 Cost of Sales / Operating Expenses 6,013.90 4,448.90 5,526.00 6,352.00 EBITDA 640.10 965.10 1,338.50 1,665.50 Depreciation, Amortization & Impairments 427.40 267.20 330.80 296.20 EBIT 212.70 697.90 1,007.70 1,369.30 Interest Expenses 184.80 166.40 271.30 287.40 PBT 541.00 1,958.40 807.30 1,158.30 PAT 1,158.70 1,975.60 770.40 1,049.50 Balance Sheet (MUR Mn) Year Ended 30-Jun-13 30-Jun-14 30-Jun-15 No. of Shares (Number) 25,204,530 25,204,530 25,204,530 252,045,300 Total Equity 8,995.00 11,637.10 14,361.50 15,049.90 Long Term Debt 2,322.70 2,227.00 2,915.70 3,482.90 Other Non Current Liabilities 62.70 133.20 153.10 166.70 Short Term Debt 462.30 805.20 1,029.90 836.20 Other Current Liabilities 2,963.90 2,285.20 2,454.50 2,858.70 DTL 213.80 221.10 215.40 240.20 Total Equity & Liabilities 15,020.4 17,308.80 21,130.10 22,634.60 Tangible Assets 6,077.90 7,155.30 7,450.40 7,550.20 Intangible Assets (incl. bearer biological assets) 372.10 500.60 492.80 763.00 Investment 4,659.10 6,819.40 9,790.30 10,664.20 Other Non Current Assets 39.30 104.80 196.40 97.00 Long Term Receivables 135.20 169.50 146.30 137.50 Cash & Bank Balance 515.60 431.30 674.30 817.00 Trade Receivable 1,975.90 1,841.90 2,088.00 2,297.20 DTA - - - - Inventories 1,245.30 286.00 291.60 308.50 Other Current Assets - - - - Total Assets 15,020.4 17,308.80 21,130.10 22,634.60 Total Current Assets (Excl. Investment in financial assets) 3,736.80 2,559.20 3,053.90 3,422.70 Total Current Liabilities 3,426.20 3,090.40 3,484.40 3,694.90 Trade Receivable (Non Current+Current) 2,111.10 2,011.40 2,234.30 2,434.70 Capital Employed 11,684.40 14,523.00 18,182.80 19,012.90 Tangible Networth 8,622.90 11,136.50 13,868.70 14,286.90 Page 4
INVESTMENT Annual Financial Statistics (cont..) Per Share Data* (MUR) Year Ended 30-Jun-13 30-Jun-14 30-Jun-15 BVPS 342.12 441.85 550.25 56.68 Diluted EPS 46.29 69.46 1.85 2.16 DPS 6.50 6.00 0.80 0.84 * The company had a stock split on 16th December 2014 in a ratio of 1:10. Growth Y-o-Y (%) Year Ended 30-Jun-13 30-Jun-14 30-Jun-15 Growth in Total Income -4.55 1.38 16.70 Growth in EBITDA 50.77 38.69 24.43 Growth in PAT 70.50-61.00 36.23 Growth in EPS 50.05-97.34 16.76 Key ratios Year Ended 30-Jun-13 30-Jun-14 30-Jun-15 EBITDA Margin (%) 9.91 19.65 21.63 23.29 PAT Margin (%) 17.94 40.23 12.45 14.68 PAT Margin on Total Income (%) 16.17 28.88 11.11 12.97 RoCE (%) NM/NA 5.33 6.16 7.36 RoE (%) NM/NA 20.00 6.16 7.46 Debt - Equity (times) 0.32 0.27 0.28 0.30 Interest Coverage (times) 1.15 4.19 3.71 4.76 Current Ratio (times) 1.09 0.83 0.88 0.93 Inventory Days 37.79 62.82 19.08 17.24 Receivable Days 55.83 141.87 115.92 111.91 Result Analysis Total Income for the quarter ended December, 31 2015 increased by 2.46 % compared to the same period previous year. Company recorded a profit of MUR 286.2 Mn for the quarter ended December, 31 2015. The company has reported a profit of MUR 1049.50 Mn for the year ended June, 30 2015. The company has changed its accounting period from September 30, 2012 to June 30, 2013, hence 2013 is entered for 9 months. The company had a stock split on 16th December 2014 in a ratio of 1:10. 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