Ambuja Cement fm.xlsx

	B	C	D	E	F	G	H
1	Name of the Company	Ambuja Cement		Source: Annual Reports - Standalone Financial Statements
2	CMP (Rs)	338		Blue - Input Values
3	No. of outstanding Shares (crore)	198.56		Black - Calculated Values
4	Market Cap.(Rs Crore)	67113.28		Green - Comments
5				Yellow Fill - Assumptions
6
7	(Rs Crore)	Mar-18	Mar-19	Mar-20	Mar-21E	Mar-22E	Mar-23E

8	P&L Statement
9	Revenue	11356.76	11667.88	11371.86
10	Less: Excise Duty	-	-	-
11	Net Revenues	11,357	11,668	11,372	13,009	15,153	18,123
12	YoY Growth %		3%	-3%	14%	16%	20%
13
14	Raw Material & Purchases	-1019.04	-1082.69	-1072.19
15	Change in Stock	72.87	-42.8	-114.08
16	Power & Fuel	-2545.84	-2586.42	-2251.91
17	Manpower expenses	-679.57	-672.63	-668.78
18	Other Manufacturing Expenses	-1021.6	-1272.59	-1065.5
19	Royalty	-249.59	-254.93	-231.1
20	COGS	-5442.77	-5912.06	-5403.56	-6062.79	-7197.75	-9022.38
21
22	Gross Profit	5,914	5,756	5,968	6,947	7,956	9,101
23	GP Margin%	52%	49%	52%	53%	53%	50%
24	YoY Growth %		-3%	4%	16%	15%	14%
25
26	Freight Outward	-3277.97	-3094.2	-3094.2	-3252.35	-3788.34	-4530.85
27	Other Expenses	-744.96	-512.77	-466.82	-650.47	-757.67	-906.17
28
29	EBITDA	1,891	2,149	2,407	3,044	3,410	3,664
30	EBITDA Margin%	17%	18%	21%	23%	23%	20%
31	YoY Growth %		14%	12%	26%	12%	7%
32
33	Depreciation	-548.09	-543.83	-521.17	-594.16	-704.37	-776.37
34
35	EBIT	1,343	1,605	1,886	2,450	2,705	2,888
36	EBIT Margin%	12%	14%	17%	19%	18%	16%
37	YoY Growth %		20%	18%	30%	10%	7%
38
39	Finance Cost	-82.33	-83.52	-83.52	-74.40	-90.90	-71.60
40	Other income	374.98	426.52	426.52	426.52	426.52	426.52
41	Exceptional Items	-129.95	-	-	-	-	-
42
43	PBT	1,506	1,948	2,229	2,802	3,041	3,243
44	Income Tax - Current	-478	-573	-652.04
45	Income Tax - Deferred	86.93	153.52	27.26
46	Total Income Tax	-391.07	-419.48	-624.78	-700.44	-760.21	-810.64
47	ETR	-26%	-22%	-28%	-25%	-25%	-25%
48	Reported PAT	1,115	1,529	1,604	2,101	2,281	2,432
49	PAT Margin %	10%	13%	14%	16%	15%	13%
50	EPS (Rs.)	5.61	7.70	8.08	10.58	11.49	12.25
51
52	Business PAT	1,018	1,529	1,604	2,101	2,281	2,432
53	Business EPS (Rs.)	5.13	7.70	8.08	10.58	11.49	12.25
54
55	Core Earnings	740.82	1,193.87	1,297.36	1,781.42	1,960.75	2,112.03
56	Core EPS (Rs.)	3.73	6.01	6.53	8.97	9.87	10.64
57
58	Dividend (incl. DDT)	397.13	299.86	3664.61	2521.58	2736.77	3891.07
59
60	BALANCE SHEET
61
62	Assets
63	Net Fixed Assets	5663.6	5812.45	5932	7811	8307	8730
64	Capital WIP	610.02	1108.7	1873.74	600	600	600
65
66	Investment in Subsidiaries	11,814	11789.01	11787.71	11787.71	11787.71	11787.71
67	Non Current Investments	-	-	5	5	5	5
68	Current Investment	-	-	-	-	-	-
69	Total Investments	11,814	11,789	11,792	11,792	11,792	11,792
70
71	Deferred Tax Assets	-	-	-	-	-	-
72
73	Inventories	1278	954.07	746.61	997.98	1,162.45	1,390.29
74	Trade Receivables	470.26	513.22	191.51	213.85	249.10	297.92
75	Loans & Advances (incl. all adjusted values)	728	870.61	874.46	876	876	876
76	Other Current Assets	1293.31	1243.18	1147.01	1147.01	1147.01	1147.01
77	Total Current Assets	3769	3581	2960	3235	3435	3711
78
79	Trade Payables	1109.46	935.98	880.9	855.41	996.39	1,191.68
80	Provisions	129.58	135.71	59.47	71.28	83.03	99.31
81	Other Current Liablities (incl. all adjustments)	2523.27	3462.52	3995.6	3995.6	3995.6	3995.6
82	Total Current Liabilities	3762.31	4534.21	4935.97	4922.30	5075.02	5286.58
83	Working Capital	7	-953	-1976	-1687	-1640	-1575
84
85	Cash & Cash Equivalents	3329.97	4699.49	2924.34	1498.75	514.26	-1416.47
86
87	Total Assets	21,424	22,457	20,545	20,015	19,573	18,131
88
89	Liabilities
90
91
92	Share Capital	397.13	397.13	397.13	397	397	397
93	Reserves & surplus	20,615	21,808	19,918.73	19,375.47	18,924.34	17,470.19
94	Shareholders Equity	21,013	22,205	20,316	19,773	19,321	17,867
95
96	Short Term Debt	-	-	-	-	-	-
97	Long Term Debt	39.68	35.28	43.6	55.60	65.60	77.60
98	Total Debt	40	35	44	56	66	78
99
100	Net Deferred Tax Liabilities	372.16	216.06	185.95	185.95	185.95	185.95