Borax Morarji (Delisted) financials and balance sheet
BSE: 506315
Last traded ₹54.50 on 15 Nov 2017
Delisted on 8 Jan 2018.
10 years at a glance
Standalone: the listed company alone, without its subsidiaries. ₹ crore, years to March.Borax Morarji annual reports
Revenue, net profit and borrowings, ₹ crore
- Revenue
- Net profit
- Borrowings
- Loss
Peak revenue ₹80 Cr, year to Mar 2008A loss in 3 of the 7 years with results on record
Operating and net margin, per cent
- Operating marginOperating margin. Operating profit before depreciation as a percentage of revenue: how much of each rupee of sales is left after running costs.
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax.
Results for the year to Mar 2017
Standalone: the listed company alone, without its subsidiaries. ₹ crore.
From revenue to net profit
- Revenue54
- Operating expenses−55
- Operating profit−0.5
- Depreciation−0.9
- Other income+0.2
- Finance costs−3.4
- Profit before tax−4.7
- Net profit−4.7
Profit and loss
Standalone, ₹ crore, years to March. No results on record for the years to Mar 2014, Mar 2015 and Mar 2016.Borax Morarji quarterly results
| ₹ crore | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 79.8 | 74.4 | 69.8 | 74.0 | 77.3 | 61.7 | – | – | – | 54.0 |
| Operating expenses. What the business spent to run itself in the period, materials, staff and other costs, before depreciation, interest and tax. | 70.9 | 65.1 | 63.2 | 68.1 | 76.5 | 62.1 | – | – | – | 54.5 |
| Materials and goods boughtCost of materials and goods. Raw materials used and goods bought for resale in the period, adjusted for the change in stock held. | 51.3 | 45.0 | 48.0 | 50.4 | 58.1 | 44.4 | – | – | – | 45.4 |
| Employee costsEmployee costs. Salaries, wages, bonuses and other benefits paid to staff in the period. | 4.2 | 3.6 | 3.5 | 4.3 | 3.9 | – | – | – | – | – |
| Other expensesOther expenses. Every operating cost besides materials and staff: power, rent, freight, repairs, marketing and the like. | 15.4 | 16.5 | 11.8 | 13.4 | 14.5 | – | – | – | – | – |
| Operating profit before depreciationOperating profit before depreciation (EBITDA). Revenue less operating expenses: what the business earns from its operations before depreciation, interest and tax. | 8.9 | 9.3 | 6.6 | 5.9 | 0.8 | −0.4 | – | – | – | −0.5 |
| Operating marginOperating margin. Operating profit before depreciation as a percentage of revenue: how much of each rupee of sales is left after running costs. | 11.1% | 12.5% | 9.4% | 8.0% | 1.0% | −0.6% | – | – | – | −0.9% |
| Materials, % of revenueMaterials, % of revenue. Raw materials used and goods bought for resale, adjusted for the change in stock, divided by revenue, times 100. | 64.3% | 60.4% | 68.8% | 68.1% | 75.2% | – | – | – | – | – |
| Employee costs, % of revenueEmployee costs, % of revenue. Salaries, wages and other staff costs divided by revenue, times 100. | 5.2% | 4.9% | 5.0% | 5.8% | 5.0% | – | – | – | – | – |
| Other expenses, % of revenueOther expenses, % of revenue. Operating costs besides materials and staff divided by revenue, times 100; with the two above and the operating margin it makes 100. | 19.3% | 22.2% | 16.8% | 18.1% | 18.8% | – | – | – | – | – |
| Depreciation and amortisationDepreciation and amortisation. The part of the cost of plant, buildings and other long-lived assets charged against each year they are used. | 2.0 | 2.1 | 2.1 | 2.0 | 2.1 | 2.0 | – | – | – | 0.9 |
| Operating profit after depreciationOperating profit after depreciation (EBIT). Operating profit before depreciation, less depreciation and amortisation. | 6.9 | 7.2 | 4.5 | 3.9 | −1.3 | −2.4 | – | – | – | −1.4 |
| Other incomeOther income. Income from outside the main business, such as interest on deposits, dividends received and gains on investments. | 1.2 | 0.4 | 1.6 | 0.1 | 0.3 | 0.1 | – | – | – | 0.2 |
| Finance costsFinance costs. Interest and the other costs of borrowing in the period. | 2.2 | 2.0 | 2.2 | 2.0 | 2.8 | 2.2 | – | – | – | 3.4 |
| Profit before one-off items and taxProfit before one-off items and tax. Profit before tax as it would be without the one-off items below it, as the company states it. | – | 5.6 | 3.8 | 2.1 | −3.8 | −4.4 | – | – | – | −4.7 |
| One-off itemsExceptional items. Gains or losses the company reports separately because they are not expected to recur, such as selling a business or writing down an asset. | – | −0.3 | – | – | – | – | – | – | – | – |
| Profit before tax | 5.8 | 5.3 | 3.8 | 2.1 | −3.8 | −4.4 | – | – | – | −4.7 |
| Tax | 2.1 | 1.4 | 1.2 | 0.7 | −0.9 | −1.5 | – | – | – | – |
| Net profit | 3.8 | 3.9 | 2.6 | 1.4 | −3.0 | −2.9 | – | – | – | −4.7 |
| Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. | 4.7% | 5.2% | 3.7% | 1.9% | −3.9% | −4.8% | – | – | – | −8.6% |
Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2013 and Mar 2017 they do not, so they are left blank.
Ratios
Standalone, years to March.
| Ratio | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growthRevenue growth. This year's revenue less last year's, divided by last year's, times 100; blank where last year's is not above nought. | – | −6.8% | −6.2% | 6.1% | 4.4% | −20.1% | – | – | – | – |
| Operating profit growthOperating profit growth. This year's operating profit before depreciation less last year's, divided by last year's, times 100; blank where last year's is not above nought. | – | 4.3% | −29.3% | −9.3% | −86.9% | – | – | – | – | – |
| Net profit growthNet profit growth. This year's net profit less last year's, divided by last year's, times 100; blank where last year's is not above nought. | – | 3.5% | −33.3% | −47.1% | – | – | – | – | – | – |
| Interest coverInterest cover. Operating profit after depreciation divided by finance costs: how many times over the profit pays the interest bill. | 3.1 | 3.6 | 2.0 | 2.0 | – | – | – | – | – | – |
Interest cover is left blank for the years to Mar 2012, Mar 2013 and Mar 2017: operating profit after depreciation is a loss, and a loss covers no interest bill.
Growth and returns over 3, 5 and 10 years
Standalone: the listed company alone, without its subsidiaries. Each window ends with the year to Mar 2017.
| Measure | 5 years | 3 years |
|---|---|---|
| Revenue growth, yearly rateRevenue growth, yearly rate. 3 years: Revenue in the latest year ÷ revenue in the year three years before, to the power of one third, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. 5 years: Revenue in the latest year ÷ revenue in the year five years before, to the power of one fifth, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. 10 years: Revenue in the latest year ÷ revenue in the year ten years before, to the power of one tenth, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. | −6.9% | – |
Accounting checks
Standalone, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.
| Check | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Effective tax rateEffective tax rate. Tax charged as a percentage of profit before tax.Published threshold 17.16 per cent | 35.70 | 26.45 | 32.52 | 33.93 | – | – | – | – | – | – |
A threshold marked as ours has no published figure; it is the line we read the check against.