Track Record

CUMI in the Past Five Years (31st March)

  Consolidated performance Standalone performance
  2012 2013 2014 2015 2016 2012 2013 2014 2015 2016
Summary information                     
a Net Sales   19685 19424 20939 20187 20,564 11052 10800 11276 11518 12,810
b EBITDA  * 4022 2502 2735 2896 3,610 2354 1712 1645 1800 2,384
c PBIT * 3453 1791 1825 1892 2,666 1918 1244 1154 1212 1,762
 [*excluding exceptional income / (expense) (Net)]
d PBT 3227 1519 1543 2204 2,439 1894 1080 1024 1994 1,673
e PAT 2193 898 915 1326 1,428 1467 745 728 1483 1,163
f Net Fixed Assets 6500 8273 8260 7204 6,930 4126 4286 4283 4070 4,515
g Net Working Capital 5023 4324 4491 3790 4,691 1755 1662 2593 2939 2,887
h Non Current Investments 12 12 81 78 86 1246 1246 1306 2375 2,446
i Shareholders Networth 9470 10592 11060 10887 11,859 6366 6845 7336 8599 9,470
j Loan Funds 3992 4349 4563 3402 3,108 1596 1322 1188 835 1,091
 
Ratio Analysis                    
A Performance Ratios                      
1 EBITDA / Net Sales % 20% 13% 13% 14% 18%   21% 16% 15% 16% 19%
2 PBIT / Net Sales % 18% 9% 9% 9% 13%   17% 12% 10% 11% 14%
3 Asset Turnover  times  1.3 1.1 1.1 1.1 1.1   1.3 1.2 1.2 1.3 1.3
4 Return on Capital Employed % 26% 12% 11% 12% 17%   23% 15% 14% 13% 18%
5 Return on Equity 26% 9% 8% 12% 13%   25% 11% 10% 19% 13%
6 International Revenue share % 49% 51% 50% 46% 43% 22% 21% 19% 20% 21%
B Leverage Ratios                    
1 Interest Cover times 16.1 9.2 9.7 11.4 15.9   13.5 10.4 12.7 20.7 26.8
2 Debt Equity Ratio 0.4 0.4 0.4 0.3 0.3   0.3 0.2 0.2 0.1 0.1
3 Debt / Total Assets 0.2 0.2 0.2 0.2 0.2   0.2 0.1 0.1 0.1 0.1
C Liquidity Ratio                    
1 Current Ratio 2.0 1.8 1.8 1.7 1.9   1.7 1.6 2.2 2.6 2.2
D Activity Ratio                     
1 Inventory Turnover days 67 76 73 74 69   57 62 59 63 62
2 Receivable Turnover days 64 68 68 71 68   60 65 69 71 68
3 Payables No of days 44 48 46 49 45   44 45 43 43 43
4 Cash Cycle days 87 96 95 96 92   73 82 85 91 87
E Investor related Ratios                    
1 Earning Per Share (Rs.) 11.7 4.8 4.9 7.1 7.6   7.8 4.0 3.9 7.9 6.2
2 Dividend Per Share (Rs.) NA NA NA NA NA   2.0 1.3 1.2 1.2 1.5
3 Dividend Payout NA NA NA NA NA   29.1% 36.2% 36.2% 16.7% 24.7%
4 Price to Earnings Ratio 12.8 31.0 25.3 25.4 23.0 - - - - -
5 Enterprise Value / EBITDA 7.9 12.8 10.1 12.7 9.8 NA NA NA NA NA
6 Enterprise Value / Net Sales 1.6 1.7 1.3 1.8 1.7   NA NA NA NA NA

Glossary
A Performance Ratios
1 EBITDA/Net Sales % EBITDA = PBT + Interest + Depreciation - Exceptional Items
2 PBIT/Net Sales %  PBIT = PBT + Interest - Exceptional Items
3 Asset Turnover  times (excluding Investments) Net Sales/Average Capital Employed excluding Investments
4 Return on Capital Employed % PBIT/Average Capital Employed
5 Return on Equity PAT/Average of Shareholder's Funds
B Leverage Ratios
1 Interest Cover times EBITDA/Interest cost
2 Debt Equity Ratio Total Debt/Shareholders Funds
3 Debt/Total Assets Total Debt/Total Assets
C Liquidity Ratio
1 Current Ratio Current Assets/Current Liabilities
D Activity Ratio *
1 Inventory Turnover days Average Inventory / (Turnover/365)
2 Receivable Turnover days Average Receivables / (Turnover/365)
3 Creditors No of days

Average Trade Creditiors / (Turnover/365)

4 Cash Cycle days Inventory Turnover + Receivables Turnover - Creditors No of days
* based on Turnover and average of opening/closing  parameters
E Investor related Ratios
1 Price to Earnings Ratio Average share price of monthly high low / EPS
2 Enterprise Value/EBITDA Total Enterprise Value^ / EBITDA
3 Enterprise Value/Net Sales Total Enterprise Value^ / Net Sales
^ Enterprise Value Market capitalisation + Loan Funds + Minority Interest - Cash & Cash equivalents.
# Based on Revised Schedule VI Format
$ Investor related ratios for the earlier years were made comparable with the current year consequent to sub-division of the face value of equity share from Rs.2 per equity share to Re.1 per equity share.

Murugappa Group Abrasives & Ceramics Manufacturers