Prabhat Dairy (Delisted) share price

BSE: 539351

Prabhat Dairy Limited · Face value ₹10 · Listed Sep 2015

Last traded ₹99.60 on 22 Apr 2021

Delisted on 30 Apr 2021.

Last announcements

The company's own last announcements before its shares stopped trading, routine notices left out.

  1. Apr 2021

Share price history

Daily closes since Sep 2015, adjusted for splits and bonuses

Daily close, ₹ per share

Q3 results, quarter to Dec 2020

Consolidated: the company and its subsidiaries together. ₹ crore.

Revenue
₹92 Cr−54.2% on a year ago · +5.1% on the quarter before
Operating profit
₹1.26 Cr−48.1% on the quarter before
Net profit
₹8.79 Cr−14.2% on a year ago · −5.7% on the quarter before
Earnings per share
₹0.90−14.3% on a year ago · −5.3% on the quarter before
Operating margin
1.4%
Net margin
9.5%

From revenue to net profit, ₹ crore

  1. Revenue92
  2. Materials and goods−85
  3. Employee costs−1.4
  4. Other expenses−4.4
  5. Operating profit1.3
  6. Depreciation−0.1
  7. Other income+11
  8. Finance costs0.0
  9. Profit before tax12
  10. Tax−2.9
  11. Net profit8.8

Prabhat Dairy results by quarter

Consolidated: the company and its subsidiaries together. Latest quarter to Dec 2020. Results for the quarter to Mar 2021 were due by 30 May 2021, 60 days after it ends. Every company's dates are on the results calendar.

Revenue and net profit by quarter, ₹ crore

  • Revenue
  • Net profit
  • Loss
40518Mar 1838611Jun 1841812Sep 1846310.0Dec 1816115Mar 197312Jun 19639.6Sep 1920210Dec 19195−141Mar 20839.2Jun 20889.3Sep 20928.8Dec 20
A loss in 1 of the 12 quarters shown

Operating and net margin by quarter, per cent

  • Operating margin
  • Net margin
15.8%−73.3%9.9%8.4%9.4%8.1%−0.9%0.2%−3.9%−0.5%−73.3%2.3%2.8%1.4%4.3%2.9%3.0%2.2%15.8%15.2%5.1%−72.2%11.1%10.6%9.5%Mar 18Sep 18Mar 19Sep 19Mar 20Sep 20Dec 20
₹ croreMar 2016Jun 2016Sep 2016Dec 2016Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Q1Sep 2018Dec 2018Q3Mar 2019Jun 2019Q1Sep 2019Dec 2019Q3Mar 2020Jun 2020Q1Sep 2020Dec 2020Q3
Revenue from operations3082933254083773603864044053864184631617363202195838892
280268297370347–3543663653533794261637366203338818591
Materials and goods bought242237260329306–3023113112983223681547163198222788385
Employee costs888910–11111111111111222221
Other expenses3123293331–4144434546478213113214
Operating profit before depreciation2825283830–323740323938−10−2−1−143221
Operating margin9.0%8.5%8.5%9.2%7.9%–8.2%9.3%9.9%8.4%9.4%8.1%−0.9%0.2%−3.9%−0.5%−73.3%2.3%2.8%1.4%
Depreciation and amortisation1010111111–12131313131300000000
Other income00101100111101718178101011
Finance costs77788–987591000000000
Profit before one-off items and tax1071019128111722151915−2171516−135121212
One-off items000260000−500000000000
Profit before tax1071045128111717151915−2171516−135121212
21111142220475−45566333
Tax rate21.1%19.1%14.0%24.3%115.0%29.6%18.1%13.1%−1.7%24.8%35.3%34.4%–30.6%35.9%36.6%–25.0%25.0%25.0%
Profit from discontinued businesses––––––––––––13–––––––
86934−269151811121015121010−141999
Other comprehensive income–––––––––00000000000
Total comprehensive income–––––––––11121016121010−141999
Net margin2.6%2.1%2.8%8.3%−0.5%1.6%2.4%3.7%4.3%2.9%3.0%2.2%–15.8%15.2%5.1%−72.2%11.1%10.6%9.5%
Earnings per share––––––₹0.94₹1.52₹1.78₹1.14₹1.27₹1.02₹1.58₹1.19₹0.99₹1.05−₹14.40₹0.94₹0.95₹0.90
Earnings per share in rupees, restated for later splits and bonuses. Net margin is left blank for Mar 2019: the profit includes the result of a business the company has discontinued, which the revenue does not, so the two make no margin.

The quarters either side of a change of basis do not compare. From the quarter to Mar 2019, the company's revenue for the year to Mar 2019, ₹239 Cr, differs from its quarters added, ₹1,429 Cr; the company reports a discontinued business.

5 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.

Revenue, net profit and borrowings, ₹ crore

  • Revenue
  • Net profit
  • Borrowings
  • Loss
1,17125Mar 161,41047Mar 171,55447Mar 18239510Mar 19533−1090Mar 20
A loss in the year to Mar 2020, −₹109 CrA loss in 1 of the 5 years shown

Operating and net margin, per cent

  • Operating margin
  • Net margin
10.2%−27.4%10.2%9.0%8.9%1.1%−27.4%2.1%3.3%3.0%−20.5%Mar 16Mar 17Mar 18Mar 19Mar 20

The years either side of a change of basis do not compare. From the year to Mar 2019, the company's revenue for that year, ₹239 Cr, differs from its quarters added, ₹1,429 Cr; the company reports a discontinued business.

Results for the year to Mar 2020

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

  1. Revenue533
  2. Materials and goods−554
  3. Employee costs−6.3
  4. Other expenses−119
  5. Operating profit−146
  6. Depreciation−0.2
  7. Other income+60
  8. One-off items0.0
  9. Finance costs−0.3
  10. Profit before tax−87
  11. Tax−22
  12. Net profit−109

What the company owns

  • Plant, investments and other assets₹1,671 Cr
  • Cash and bank₹947 Cr
  • Receivables₹146 Cr
  • Inventory₹2 Cr

What pays for it: net worth and liabilities

  • Other liabilities₹2,139 Cr
  • Net worth₹471 Cr
  • Owed to suppliers₹156 Cr

Profit and loss

Consolidated, ₹ crore, years to March. The last column is the twelve months to Dec 2020, the latest four quarters added.

₹ croreMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Dec 2020Twelve months
Revenue from operations1,1711,4101,554239533458
1,0511,2831,416236679595
Materials and goods bought9101,1361,208226554467
Employee costs283543267
Other expenses1131131648119121
Operating profit before depreciation1191271383−146−137
Operating margin10.2%9.0%8.9%1.1%−27.4%−30.0%
Materials, % of revenue77.7%80.6%77.8%94.6%103.9%102.2%
Employee costs, % of revenue2.4%2.5%2.8%0.8%1.2%1.5%
Other expenses, % of revenue9.7%8.0%10.6%3.5%22.4%26.3%
Depreciation and amortisation404349000
Operating profit after depreciation7984893−146−138
Other income11306039
Finance costs432933000
Profit before one-off items and tax3855583−87−98
One-off items019−5000
Profit before tax3874543−87−98
1427612215
Profit from discontinued businesses–––49––
25474751−109−113
Other comprehensive income–––000
Total comprehensive income–––51−109−113
Net margin2.1%3.3%3.0%–−20.5%−24.8%
Net margin is left blank for the year to Mar 2019: the profit includes the result of a business the company has discontinued, which the revenue does not, so the two make no margin.

Balance sheet

Consolidated, ₹ crore, at 31 March. The last column is the half year to Sep 2020, after the latest full year: the balance sheet at its end.

₹ croreMar 2019Mar 2020Sep 2020Half year
780471489
Share capital989898
Reserves682373392
Borrowings000
171,5421,653
Liabilities due after a year000
Liabilities going with businesses held for sale659752752
1,4552,7652,894
9323
261,4341,562
Net debt−8−947−928
Borrowings are counted again inside the liabilities due within a year and after a year. Plant in use and plant being built are given for full years only. No balance sheet is on record for the years to Mar 2016, Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March. The last column is the half year to Sep 2020, after the latest full year: the cash flow over its six months.

₹ croreSep 2020Half year
−270
−260
−285
Receivables−129
Inventories−2
Payables136
Other working capital−290
Tax paid−9
Capital spending1
Free cash flow−271
Cash from investing251
Cash from financing0
Dividends paid0
Shares bought back0
Shares issued0
Net change in cash−19
Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only.

Per share

Consolidated, ₹ per share, years to March.

₹ per shareMar 2017Mar 2018Mar 2019Mar 2020
Earnings per share₹4.84₹4.85₹5.18−₹11.18
Diluted earnings per share₹4.84₹4.85₹5.18−₹11.18
Book value per share––₹79.86₹48.19
Market cap at the year end (₹ crore)––748538

Ratios

Consolidated, years to March.

RatioMar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue growth–20.4%10.2%–123.3%
Operating profit growth–6.3%8.6%––
Net profit growth–91.4%0.7%––
Earnings per share growth––0.2%––
Interest cover1.92.82.730.0–
Sales per rupee of plant––––230.58
Plant being built, % of plant in use––––0.0%
Return on equity, asset turnover and assets per rupee of net worth are left blank for the years to Mar 2019 and Mar 2020: a tenth or more of the assets on the balance sheet it is worked from are held for sale or for a demerger, so it would mix the business being kept with the part that is leaving. Change in return on equity, from the net margin, from asset turnover and from borrowing are left blank for the years to Mar 2019 and Mar 2020: a tenth or more of the assets on the balance sheet it is worked from are held for sale or for a demerger, so it would mix the business being kept with the part that is leaving. Debt to equity, receivable days, inventory days, payable days, cash conversion cycle, days, return on capital employed and working capital days are left blank for the years to Mar 2019 and Mar 2020: a tenth or more of the assets on the balance sheet it is worked from are held for sale or for a demerger, so it would mix the business being kept with the part that is leaving. Revenue growth, operating profit growth, net profit growth and earnings per share growth are left blank for the year to Mar 2019: between the two periods the company restated its earlier figures and the company began reporting a business as discontinued, so the two are on different bases and the change is not worked out. Interest cover is left blank for the year to Mar 2020: operating profit after depreciation is a loss, and a loss covers no interest bill. No balance sheet is on record for the years to Mar 2016, Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2020.

Return on assets, latest year
−5.2%
Measure5 years3 years
Operating margin, average0.3%−5.8%
Net margin, average−3.0%−8.7%
Interest cover, average9.316.3

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

CheckMar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Altman Z-scorePublished threshold 1.1–––2.790.19
Receivables growth less revenue growthOur threshold 0 percentage points––––28,935.48
Inventory growth less cost-of-goods growthOur threshold 0 percentage points––––400.52
Other current assets growth less revenue growthOur threshold 5 per cent of revenue––––−0.55
Assets under construction, years of additionsOur threshold 2 years of additions––––0.00
Effective tax ratePublished threshold 17.16 per cent35.6536.8511.9036.70–
A threshold marked as ours has no published figure; it is the line we read the check against.

Business segments

In the year to Mar 2020 the company reports one business segment, ANIMAL FEEDS AND NUTRITION, which carries all its revenue.

Where the return came from

Yearly rates to Mar 2020, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−28.1%––0.0%
3 years−23.2%––0.0%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth and the change in P/E are left empty where earnings per share at either end of the window was a loss or is not on record.

Prabhat Dairy share price by year

Each calendar year to 2021.

YearClose at year endChangeHighest closeLowest close
202199.60+35.9%99.7068.50
202073.30−12.6%87.3546.85
201983.85−7.3%95.3048.25
201890.50−59.9%242.1084.70
2017225.55+126.8%242.6097.75
201699.45−31.3%142.7576.00
2015144.70–160.90105.45
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2015 is from its first session, 21 Sep 2015. The 2021 close is its last trade, on 22 Apr 2021.

Recent sessions

The 10 trading days to 22 Apr 2021, as traded on BSE.

DateOpenHighLowCloseAverage priceVolume
22 Apr 202199.2099.8599.2099.6099.651,36,205
20 Apr 202199.0599.8099.0599.7099.603,08,311
19 Apr 202199.2599.8096.7099.5099.552,24,270
16 Apr 202199.5099.7599.3599.5099.461,49,855
15 Apr 202199.4599.5099.0599.3599.292,84,477
13 Apr 202199.4599.5099.2099.2599.301,86,819
12 Apr 202198.2099.6098.2099.2099.064,79,686
9 Apr 202197.8098.3097.5097.7597.9391,150
8 Apr 202197.9598.0097.3097.7597.681,32,853
7 Apr 202197.2597.9096.3097.7597.393,09,610
Prices in ₹ per share as traded, not adjusted.

Company details

BSE code
539351
ISIN
INE302M01033
Former symbols
PRABHAT
CIN
L01100PN1998PLC013068
Corporate identity number, the registrar of companies' code for it
Incorporated
1998
Registered office
Gat No. 122, At Ranjankhol, Post Tilaknagar, Taluka Rahata, Ahmednagar 413720, Maharashtra
Share registrar
KFin Technologies Ltd
Keeps the register of shareholders and handles transfers and dividend payments