Godrej Agrovet Ltd (GOAGRO IN) - Standardized

In Millions of INR except Per Share FY 2015 FY 2016 FY 2017 FY 2018

12 Months Ending 03/31/2015 03/31/2016 03/31/2017 03/31/2018
Cash from Operating Activities
+ Net Income 2,031.3 2,639.3 2,488.2 2,292.1
+ Depreciation & Amortization 364.9 523.7 746.6 859.2
+ Non-Cash Items -277.9 -324.4 1,390.1 376.6
+ Stock-Based Compensation — — 0.0 4.3
+ Other Non-Cash Adj -277.9 -324.4 1,390.1 372.3
+ Chg in Non-Cash Work Cap -1,835.9 -1,067.5 3,634.0 -393.8
+ (Inc) Dec in Accts Receiv -436.6 — -816.8 -1,226.1
+ (Inc) Dec in Inventories -486.0 -1,292.1 -752.5 -346.9
+ Inc (Dec) in Accts Payable -613.4 318.2 5,095.8 1,151.2
+ Inc (Dec) in Other -300.0 -93.6 107.5 28.1
+ Net Cash From Disc Ops — — 0.0 0.0
Cash from Operating Activities 282.4 1,771.1 8,258.9 3,134.1

Cash from Investing Activities

+ Change in Fixed & Intang -1,087.2 -1,252.9 -1,949.1 -2,447.6
+ Disp in Fixed & Intang 19.8 78.9 99.8 13.8
+ Disp of Fixed Prod Assets — — 99.8 13.8
+ Disp of Intangible Assets — — 0.0 0.0
+ Acq of Fixed & Intang -1,107.0 -1,331.8 -2,049.0 -2,461.4
+ Acq of Fixed Prod Assets — — -2,049.0 -2,461.4
+ Acq of Intangible Assets — — 0.0 0.0
+ Net Change in LT Investment -172.0 0.1 0.0 0.0
+ Dec in LT Investment 0.0 0.1 0.0 0.0
+ Inc in LT Investment -172.0 0.0 0.0 0.0
+ Net Cash From Acq & Div — — 0.0 0.0
+ Cash from Divestitures — — 0.0 0.0
+ Cash for Acq of Subs — — 0.0 0.0
+ Cash for JVs — — 0.0 0.0
+ Other Investing Activities -105.0 -3,113.2 1,168.5 -131.0
+ Net Cash From Disc Ops — — 0.0 0.0
Cash from Investing Activities -1,364.2 -4,365.9 -780.6 -2,578.5

Cash from Financing Activities

+ Dividends Paid -825.5 -541.3 0.0 -1,044.8
+ Cash From (Repayment) Debt 900.6 4,747.5 -7,027.1 -2,570.7
+ Cash From (Repay) ST Debt — — -6,600.5 -2,465.6
+ Cash From LT Debt — — 0.0 0.0
+ Repayments of LT Debt — — -426.6 -105.1
+ Cash (Repurchase) of Equity 0.0 39.0 7.8 3,028.5
 + Increase in Capital Stock 0.0 39.0 7.8 3,028.5
+ Decrease in Capital Stock 0.0 0.0 0.0 0.0
+ Other Financing Activities 0.0 -1,461.3 -234.8 -208.3
+ Net Cash From Disc Ops — — 0.0 0.0
Cash from Financing Activities 75.1 2,783.9 -7,254.1 -795.3

Effect of Foreign Exchange Rates — — 0.0 0.0

Net Changes in Cash -1,006.8 189.1 224.2 -239.7

Cash Paid for Taxes 555.9 455.9 799.6 837.4

Cash Paid for Interest 292.3 — 0.0 —

Reference Items
EBITDA 2,768.4 2,995.2 4,380.1 4,430.4
Trailing 12M EBITDA Margin 7.99 8.03 8.92 8.54
Interest Received — 87.8 147.2 44.5
Net Cash Paid for Acquisitions — 3,013.7 — —
Free Cash Flow -824.6 439.3 6,209.9 672.8
Free Cash Flow to Firm -609.9 889.9 6,809.8 964.8
Free Cash Flow to Equity — 5,265.8 -717.4 -1,884.1
Free Cash Flow per Basic Share -9.32 2.48 35.06 3.57
Price to Free Cash Flow — — — 178.59
Cash Flow to Net Income 0.14 0.67 3.32 1.37
Source: Bloomberg Right click to show data transparency (not supported for all values)
 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 Last 12M
03/31/2019 03/31/2020 03/31/2021 03/31/2022 03/31/2023 03/31/2023

3,290.4 3,061.9 3,137.4 4,025.9 3,019.1 3,019.1

981.7 1,480.7 1,540.0 1,733.4 1,854.7 1,854.7
-705.2 -253.2 638.2 321.7 -669.8
13.4 20.2 20.5 28.2 30.4
-718.6 -273.4 617.7 293.5 -700.2
590.3 -2,253.2 -5,222.6 -7,538.9 3,764.8
-1,191.6 -1,416.8 -202.2 -1,829.1 3,460.6
-1,112.4 130.4 -938.8 -4,483.9 846.7
3,353.2 447.4 -4,988.1 -824.8 129.7
-458.9 -1,414.2 906.5 -401.1 -672.2
0.0 0.0 0.0 0.0 0.0 0.0
4,157.2 2,036.2 93.0 -1,457.9 7,968.8

-2,406.5 -2,575.3 -2,405.8 -2,679.7 -2,793.2

352.0 58.5 67.0 30.6 798.9
352.0 58.5 67.0 30.6 798.9
0.0 0.0 0.0 0.0 0.0
-2,758.5 -2,633.8 -2,472.8 -2,710.3 -3,592.1
-2,758.5 -2,633.8 -2,472.8 -2,710.3 -3,592.1
0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0
— — 0.0 0.0 0.0
— — 0.0 0.0 0.0
167.4 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0
167.4 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0
-167.0 -4.9 -8.7 255.0 -233.8
0.0 0.0 0.0 0.0 0.0
-2,406.1 -2,580.2 -2,414.5 -2,424.7 -3,027.0

-1,075.5 -1,076.0 -1,121.9 -1,590.7 -1,836.2

-679.6 2,194.1 3,442.0 5,640.7 -2,598.9
-777.8 2,484.1 2,184.0 6,598.3 -2,783.7
200.0 154.6 1,595.1 320.2 1,028.3
-101.8 -444.6 -337.1 -1,277.8 -843.5
0.0 0.0 0.3 0.4 0.0
 0.0 0.0 0.3 0.4 0.0
0.0 0.0 0.0 0.0 0.0
-56.4 -364.3 0.2 -340.5 -553.1
0.0 0.0 0.0 0.0 0.0
-1,811.5 753.8 2,320.6 3,709.9 -4,988.2

0.0 0.0 0.0 0.0 0.0

-60.4 209.8 -0.9 -172.7 -46.4

1,097.4 969.1 1,123.0 1,533.0 933.2

— — — — —

4,558.4 4,884.9 5,637.7 6,663.3 5,227.9 5,227.9

7.73 7.17 9.04 8.03 5.59 5.58
33.9 26.8 32.1 41.2 114.3
-167.4 0.0 — — —
1,398.7 -597.6 -2,379.8 -4,168.2 4,376.7
1,646.7 -254.9 -2,033.2 -3,689.4 5,139.6
1,071.1 1,655.0 1,129.2 1,503.1 2,576.7
7.28 -3.11 -12.39 -21.70 22.78
69.78 — — — 18.12 21.62
1.26 0.67 0.03 -0.36 2.64
orted for all values)