Mahindra Composites (Delisted) financials and balance sheet
BSE: 524138
Last traded ₹180.65 on 22 Dec 2014
Delisted on 25 Mar 2015.
7 years at a glance
Standalone: the listed company alone, without its subsidiaries. ₹ crore, years to March.Mahindra Composites annual reports
Revenue, net profit and borrowings, ₹ crore
- Revenue
- Net profit
- Borrowings
- Loss
Peak revenue ₹66 Cr, year to Mar 2014Back to profit in the year to Mar 2014, ₹0.78 Cr
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 2014
Standalone: the listed company alone, without its subsidiaries. ₹ crore.
From revenue to net profit
- Revenue66
- Materials and goods−47
- Employee costs−5.5
- Other expenses−11
- Operating profit2.8
- Depreciation−2.0
- One-off items+1.0
- Finance costs−1.0
- Profit before tax0.7
- Tax+0.1
- Net profit0.8
Profit and loss
Standalone, ₹ crore, years to March.Mahindra Composites quarterly results
| ₹ crore | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 32.4 | 43.1 | 46.2 | 52.9 | 56.7 | 50.4 | 66.4 |
| Operating expenses. What the business spent to run itself in the period, materials, staff and other costs, before depreciation, interest and tax. | 29.6 | 37.2 | 40.3 | 47.5 | 52.3 | 48.5 | 63.6 |
| 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. | 21.2 | 29.2 | 30.4 | 35.0 | 37.8 | 34.9 | 47.0 |
| Employee costsEmployee costs. Salaries, wages, bonuses and other benefits paid to staff in the period. | 2.8 | – | 3.9 | 4.6 | 5.6 | 5.0 | 5.5 |
| Other expensesOther expenses. Every operating cost besides materials and staff: power, rent, freight, repairs, marketing and the like. | 5.6 | – | 6.0 | 7.8 | 8.9 | 8.7 | 11.1 |
| Operating profit before depreciationOperating profit before depreciation (EBITDA). Revenue less operating expenses: what the business earns from its operations before depreciation, interest and tax. | 2.8 | 6.0 | 5.9 | 5.4 | 4.4 | 1.9 | 2.8 |
| Operating marginOperating margin. Operating profit before depreciation as a percentage of revenue: how much of each rupee of sales is left after running costs. | 8.8% | 13.8% | 12.8% | 10.3% | 7.8% | 3.8% | 4.2% |
| Materials, % of revenueMaterials, % of revenue. Raw materials used and goods bought for resale, adjusted for the change in stock, divided by revenue, times 100. | 65.5% | – | 65.8% | 66.2% | 66.6% | 69.2% | 70.8% |
| Employee costs, % of revenueEmployee costs, % of revenue. Salaries, wages and other staff costs divided by revenue, times 100. | 8.6% | – | 8.4% | 8.7% | 9.9% | 9.9% | 8.3% |
| 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. | 17.2% | – | 12.9% | 14.8% | 15.7% | 17.2% | 16.7% |
| 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. | 0.7 | 0.9 | 1.4 | 1.1 | 1.5 | 1.7 | 2.0 |
| Operating profit after depreciationOperating profit after depreciation (EBIT). Operating profit before depreciation, less depreciation and amortisation. | 2.1 | 5.1 | 4.6 | 4.4 | 3.0 | 0.2 | 0.8 |
| Other incomeOther income. Income from outside the main business, such as interest on deposits, dividends received and gains on investments. | 0.1 | 0.0 | 0.0 | 0.0 | – | – | – |
| Finance costsFinance costs. Interest and the other costs of borrowing in the period. | 0.6 | 0.6 | 0.7 | 0.6 | 1.0 | 1.1 | 1.0 |
| 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. | – | 4.5 | 3.9 | 3.8 | 2.0 | −1.0 | −0.3 |
| 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. | – | – | – | – | −2.1 | – | 1.0 |
| Profit before tax | 1.6 | 4.5 | 3.9 | 3.8 | −0.2 | −1.0 | 0.7 |
| Tax | 0.4 | 1.7 | 1.3 | 1.3 | 0.8 | 0.0 | −0.1 |
| Net profit | 1.1 | 2.9 | 2.6 | 2.4 | −0.9 | −1.0 | 0.8 |
| 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. | 3.5% | 6.7% | 5.6% | 4.6% | −1.6% | −1.9% | 1.2% |
Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Mar 2009 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 |
|---|---|---|---|---|---|---|---|
| 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. | – | 33.0% | 7.2% | 14.5% | 7.2% | −11.1% | 31.7% |
| 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. | – | 109.7% | −0.3% | −8.4% | −18.8% | −57.0% | 47.4% |
| 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. | – | 157.4% | −10.4% | −5.8% | – | – | – |
| Interest coverInterest cover. Operating profit after depreciation divided by finance costs: how many times over the profit pays the interest bill. | 3.3 | 8.9 | 6.3 | 6.8 | 3.0 | 0.2 | 0.8 |
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 2014.
| 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. | 9.0% | 7.9% |
| Profit growth, yearly rateProfit growth, yearly rate. 3 years: Profit to the company's own shareholders in the latest year ÷ profit to the company's own shareholders 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: Profit to the company's own shareholders in the latest year ÷ profit to the company's own shareholders 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: Profit to the company's own shareholders in the latest year ÷ profit to the company's own shareholders 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. | −23.0% | −31.5% |
| Operating margin, averageOperating margin, average. 3 years: The plain average of the yearly operating profit margin over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly operating profit margin over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly operating profit margin over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | 7.8% | 5.3% |
| Net margin, averageNet margin, average. 3 years: The plain average of the yearly net profit margin over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly net profit margin over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly net profit margin over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | 1.6% | −0.8% |
| Interest cover, averageInterest cover, average. 3 years: The plain average of the yearly interest cover over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly interest cover over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly interest cover over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | 3.4 | 1.3 |
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 |
|---|---|---|---|---|---|---|---|
| Effective tax rateEffective tax rate. Tax charged as a percentage of profit before tax.Published threshold 17.16 per cent | 28.64 | 36.56 | 33.33 | 35.20 | – | – | −9.86 |
A threshold marked as ours has no published figure; it is the line we read the check against.