The health of our business

Operations-fiscal years

Sugar cane crushed(Lakh tons)

Sugar produced(Lakh tons)

Power generated(Lakh units)

Ethanol/Rectified spirit(Lakh litres)

Ratios

Balance sheet ratios

Ratios2011-122012-132013-15*2015-162016-17
Earnings per share(7.88)(13.53)(13.19)22.0288.36
Book Value per share66.7354.8644.6052.66151.61

Though earning per share is ₹88.36 the cash earning per share (CEPS) is 135.08

Profitability ratios

Ratios2011-122012-132013-15*2015-162016-17
EBIDTA margin (%)11.617.726.5614.0121.26
Net profit margin (%)(1.37)(2.08)(1.15)4.4946.76
Return on assets (%)1.762.113.672.444.02
Return on capital employed (%)13.8410.7212.9521.7454.99
Return on equity (%)(10.39)(21.63)(23.01)45.3655.51

EBIDTA margin as a % of gross revenue is 21.28%. However as a % of net revenue is 23.86%. Similarly net margin as % of net revenue is 13.31%

Management efficiency ratios

Ratios2011-122012-132013-15*2015-162016-17
Inventory-turnover ratio (days)114.0667.97147.77228.13172.17
Payables turnover (days)4.5426.3945.46101.6811.86
Cash conversion cycle (days)171.77109.65166.14349.85144.97

* (18 months)

Financials

Income from operations (Gross) (₹ Crore)

EBITDA(₹ Crore)

Cash Profit(₹ Crore)

Profit (or loss) before tax(₹ Crore)

The gross revenue, EBIDTA, Cash profit & PAT clocked was the highest ever in the history of the company

Liquidity and solvency ratios

Ratios2011-122012-132013-15*2015-162016-17
Current ratio0.750.540.820.981.15
Quick ratio0.080.020.110.130.10
Debt-equity ratio (incl working capital)4.203.256.015.601.59
Debt-equity ratio (only long-term debt)2.651.992.612.580.46
Interest Cover1.251.831.550.570.17
Receivables in days of turnover equivalent (considering sale of power & ethanol which are only sold on credit)62.2568.0663.84223.4119.55
Payables in days of turnover equivalent4.5426.3945.46101.6846.76

Improvement in current ratio indicates positive and comfortable working capital position. Lower debt equity ratio is indicative of lower gearing and increased net worth of the company

Stakeholder value creation

Ratios2011-122012-132013-15*2015-162016-17
For farmers through cane purchases (₹cr.)584.04671.831,168.57632.16800.88
For equity shareholders through dividends (₹cr.)------------18.83#
For exchequer through taxes (₹cr.)27.3535.2140.3538.62110.89
For employees through wages ( ₹cr.)38.0540.3071.4449.6873.66
For customers through volume sales (tonnes)228,680.30238,104.50434,152.90262,815.50303,382.20

# Proposed for the year, yet not forming part of the accounts

*(18 months)