Bluedart Income Statement
In Cr. of INR except Per Share
Revenue From Operations
Other Income
Total Revenue
FY 2012
1495.4
21.7
1517.1
FY 2013
2171.7
40.0
2211.7
1001.5
192.3
0.0
21.8
121.7
1337.3
1410.7
300.2
0.0
34.7
192.0
1937.6
Profit/Loss Before Tax
Current Tax
Deferred Tax
Tax For Earlier Years
179.8
57.0
0.1
-
274.1
86.8
-3.4
0.0
Profit After Taxation
Share of Associate's Profit
Minority Interest
122.8
1.4
-
190.7
2.6
-
Profit/Loss For The Period
Basic Earnings Per Share
Diluted Earnings Per Share
124.2
52.34
52.34
193.3
81.46
81.46
2.37
2.37
Freight, Handling and Servicing Costs (Net)
Employee Benefits Expense
Finance Costs
Depreciation And Amortisation Expense
Other Expenses
Total Expenses
Number of Basic Shares (in crore)
Growth Rates
Sales
Profit before tax
Net Income
EPS
45%
52%
56%
56%
Margins
Gross Margin
Operating Margin
Pre Tax Margin
Tax Rate
Net Margin
33%
11%
12%
32%
8%
35%
11%
13%
32%
9%
FY 2014
1938.3
37.7
1976.0
FY 2015
2272.2
24.6
2296.8
FY 2016
2564.5
30.2
2594.7
1327.8
266.6
0.0
27.3
169.8
1791.5
1518.0
321.6
11.2
43.6
208.3
2102.7
1373.3
500.9
35.5
82.1
308.6
2300.4
184.5
60.9
2.7
-0.1
194.1
72.6
-5.7
0.0
294.3
104.6
-3.3
0.0
121.0
1.6
-
127.2
2.2
-
193.0
0.4
-0.6
122.6
51.67
51.67
129.3
54.51
54.51
192.8
81.23
81.23
2.37
2.37
2.37
-11%
-33%
-37%
-37%
17%
5%
5%
5%
13%
52%
49%
49%
31%
8%
10%
33%
6%
33%
8%
9%
37%
6%
46%
12%
11%
36%
8%
14%
FY 2012
Revenue
Growth %
FY 2013
1,495
FY 2014
2,172
45%
FY 2015
1,938
-11%
FY 2016
2,272
17%
2,565
13%
Revenue
3,000
50%
40%
30%
20%
10%
0%
-10%
-20%
2,500
2,000
1,500
1,000
500
0
FY 2012
FY 2013
FY 2012
PBT
Margin %
FY 2014
FY 2013
180
12%
FY 2015
FY 2014
274
13%
FY 2016
FY 2015
185
10%
FY 2016
194
9%
294
11%
PBT
350
14%
300
12%
250
10%
200
8%
150
6%
100
4%
50
2%
FY 2012
FY 2013
FY 2014
FY 2015
FY 2016
0%
FY 2012
FY 2013
FY 2014
FY 2015
FY 2016
Financial Leve
1.3x
1.6x
1.5x
3.2x
3.2x
Debt/Total Capi
0.0x
0.0x
0.0x
0.5x
0.5x
Capitalization Ratios
3.5x
3.0x
2.5x
2.0x
1.5x
1.0x
0.5x
0.0x
FY 2012
FY 2013
FY 2014
Financial Leverage
FY 2015
Debt/Total Capitalization
FY 2016
2.0x
1.5x
1.0x
0.5x
0.0x
FY 2012
FY 2013
FY 2014
Financial Leverage
FY 2015
Debt/Total Capitalization
FY 2016
FY 2012
Net Income
Margin %
FY 2013
124
8%
FY 2014
193
9%
FY 2015
123
6%
129
6%
Net Income
50%
40%
30%
20%
10%
0%
-10%
-20%
2016
16
250
10%
200
8%
150
6%
100
4%
50
2%
FY 2012
FY 2013
FY 2012
ROA
ROIC
ROE
FY 2013
15%
19%
19%
12%
50%
10%
40%
8%
30%
6%
20%
4%
10%
0%
FY 2016
FY 2015
FY 2016
FY 2014
18%
29%
29%
0%
FY 2015
13%
19%
19%
14%
21%
42%
% Returns
14%
2%
FY 2014
0%
FY 2012
FY 2013
FY 2014
ROA
ROIC
FY 2015
ROE
FY 2016
FY 2016
FY 2016
193
8%
10%
8%
6%
4%
2%
FY 2016
0%
FY 2016
16%
27%
47%
015
FY 2016
Bluedart Balance Sheet
In Cr. of INR except Per Share
Share Capital
Reserves and Surplus
Total Shareholders Equity
FY 2012
23.8
640.0
663.7
FY 2013
23.8
636.2
659.9
FY 2014
23.8
619.2
643.0
Long Term Borrowings
Deferred Tax Liabilities (Net)
Other Long Term Liabilities
Long Term Provisions
Total Non-Current Liabilities
0.0
18.2
8.7
26.9
0.0
14.8
9.7
24.5
0.0
17.5
9.4
26.9
Trade Payables
Other Current Liabilities
Short Term Provisions
Total Current Liabilities
Total Capital And Liabilities
53.8
93.6
5.9
153.4
843.9
72.9
88.1
205.4
366.4
1050.7
107.3
117.1
45.9
270.4
940.2
Tangible Assets
Intangible Assets
Capital Work-In-Progress
Intangible Assets Under Development
Non-Current Investments
Deferred Tax Assets (Net)
Long Term Loans And Advances
Other Non-Current Assets
Total Non-Current Assets
192.7
40.5
1.9
1.0
20.2
188.0
40.0
1.1
7.3
24.3
274.1
0.2
530.5
182.8
37.9
4.9
7.4
22.8
0.0
269.7
0.3
525.7
Current Investments
Inventories
Trade Receivables
Cash and Bank Balances
Short Term Loans And Advances
OtherCurrentAssets
Total Current Assets
Total Assets
53.7
2.6
189.0
40.1
27.0
1.0
313.4
843.9
0.0
2.4
227.2
241.7
53.6
0.3
525.0
1050.7
0.0
2.7
266.7
106.4
67.1
0.1
443.0
940.2
FY 2012
2.0x
1.7x
46
1
FY 2013
1.4x
1.4x
38
1
19
2.1x
3.3x
3.3x
11.9x
18%
29%
29%
1.6x
0.0x
278
FY 2014
1.6x
1.6x
50
1
29
2.1x
3.0x
3.0x
10.3x
13%
19%
19%
1.5x
0.0x
271
Minority Interest
Balance Sheet Ratios
Current Ratio
Quick Ratio
Days Sales Outstanding
Days Inventory Outstanding
Days Payables Outstanding
Asset Turnover Ratio
Invested Capital Turnover
Equity Turnover
Capital Intensity
ROA
ROIC
ROE
Financial Leverage
Debt/Total Capitalization
Book Value per Share
1.8x
2.3x
2.3x
7.8x
15%
19%
19%
1.3x
0.0x
280
235.9
0.5
497.2
FY 2015
23.8
283.5
307.3
FY 2016
23.8
390.4
414.1
12.4
332.2
10.2
14.8
357.2
392.2
12.3
11.0
17.6
433.1
128.0
127.4
68.3
323.7
988.1
173.0
204.0
98.6
475.6
1335.2
170.5
45.1
4.9
20.5
26.5
0.0
183.0
0.6
451.1
395.7
108.7
3.8
17.7
0.0
26.9
86.8
1.2
640.8
0.0
4.0
291.0
166.3
71.0
4.8
537.0
988.1
0.0
21.1
318.4
288.2
57.8
8.9
694.4
1335.2
FY 2015
1.7x
1.6x
47
1
31
2.3x
3.6x
7.4x
13.3x
14%
21%
42%
3.2x
0.5x
130
FY 2016
1.5x
1.4x
45
6
45
1.9x
3.2x
6.2x
6.5x
16%
27%
47%
3.2x
0.5x
175
Bluedart Cashflow Statement
In Millions of INR except Per Share
FY 2012
FY 2013
179.8
274.1
21.8
34.7
Cash From Operating Activities
Profit before tax
Depreciation and amortisation expense
Interest Expense
Interest income
Dividend from Mutual Funds
Rotables/Components & overhaul written off
Loss on sale of fixed assets (net)
Provision for Slow Moving Inventory
Loss on Account of Foreign Exchange
Bad Debts/Advances Written Off
Liabilities no longer required written back
Provision for Compensated Absences
Provision for Gratuity
Provision for Managing Directors' Commission
Operating profit before working capital changes
(Increase) / decrease in Inventories
(Increase) / decrease in Trade Receivables
0.0
-15.3
-28.0
-4.7
-9.8
0.0
0.2
10.8
0.0
-1.0
-0.5
0.9
0.9
-3.1
-4.5
0.8
3.9
-0.5
5.0
0.7
0.7
179.6
287.4
-0.5
0.3
-35.6
-38.6
(Increase) / decrease in Loans and advances
-5.2
3.1
Increase in trade payables and other current liabilities
28.5
18.6
Cash generated from operating activities
166.8
270.7
Taxes paid (net of refunds)
-59.8
-88.2
Net cash from Operations activities
107.0
182.5
Cash From Investing Activities
Purchase of fixed assets
-70.2
-32.2
Changes in capital work in progress
18.1
-10.0
Proceeds from sale of fixed assets
0.3
0.5
13.7
27.7
Dividend from mutual funds
6.5
10.7
Investments in mutual funds
-1064.8
-2188.9
1086.5
2242.6
Interest received/settled
Redemptions from mutual funds
Investment in BDA
-89.4
-39.6
Loans repaid/settled by Associate
13.8
Inter-corporate Deposits granted to Associate
-75.1
Inter-Corporate Deposits repaid/settled by Associate
75.1
0.0
0.0
-99.3
24.6
Investment in Bank fixed deposits
Net cash (used in) / from investing activities
Cash from Financing Activities
Proceeds from issue of Non Convertible Debentures
Bank overdraft facility (net)
Interest paid
0.0
Dividend paid
-2.4
-4.8
Dividend tax paid
-0.4
-0.8
0.0
-2.8
-5.5
4.9
201.6
35.1
40.0
40.0
241.6
Debenture issue expenses paid
Net cash (used in) financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Opening Cash balance of Subsidiary
Cash and cash equivalents at the end of the year
FY 2014
FY 2015
FY 2016
184.5
194.1
294.3
27.3
43.6
82.1
0.0
11.2
35.5
-28.3
-17.8
-5.9
-4.7
-4.9
-7.8
0.0
0.0
3.4
-2.2
0.1
0.6
0.0
0.0
1.3
-0.6
-0.4
-1.3
1.0
1.3
1.4
-1.6
-0.1
-1.3
0.5
3.0
4.1
-4.8
9.3
-2.6
0.8
171.9
239.5
404.1
-0.4
-1.2
-2.6
-40.0
-25.2
2.4
-13.8
-14.0
-21.4
63.5
29.9
73.2
181.3
228.9
455.7
-61.2
-75.5
-106.0
120.1
153.5
349.6
-34.2
-44.2
-116.3
3.9
-15.7
5.6
3.1
0.1
4.4
28.5
17.5
5.5
4.7
4.9
7.8
-1961.3
-2705.9
-3051.9
1961.3
2705.9
3051.9
-14.6
0.0
-53.7
47.3
69.4
8.0
-151.7
151.7
-0.2
-0.2
-0.6
38.5
31.9
-139.2
0.0
332.2
0.0
0.0
3.1
0.0
-11.2
-35.5
-251.5
-367.8
-47.5
-42.7
-74.1
-9.9
0.0
-4.7
0.0
-294.3
-125.5
-89.8
-135.7
59.8
120.6
241.6
105.9
165.7
1.1
105.9
165.7
287.3
