D-Mart Pranjali Agarwal - NMIMS B
D-Mart Pranjali Agarwal - NMIMS B
D-Mart Pranjali Agarwal - NMIMS B
Financial Summary
Income Statement
Revenue 8595 11912 15082 19968 25315
Total expense 8107 11165 13886 18520 23469
EBITDA 585 873 1351 1646 2106
PAT 318 483 785 936 1385
Assets
Non-current assets
Property, plant and equipment 2,061.27 2,515.18 3,233.65 4,205.86 5,330.61
Capital work-in-progress 81.69 152.89 147.05 376.55 377.00
Intangible assets 4.18 6.35 6.20 10.27 0.00
Investment property 13.65 27.37 16.33 18.10 18.10
Financial assets
Investments 16.00 36.62 129.50 212.00 212.00
Other financial assets 28.76 45.41 48.07 36.06 36.06
Current Tax Assets Net 1.73 0.00 0.00 0.00 0.00
Other non-current assets 84.33 50.22 85.26 109.68 109.68
Total non current assets 2,292 2,834.04 3,666 4,969 6,083
Current assets
Inventories 660 933 1,147 1,576 2,011
Investments - - 52 - -
Trade receivables 8 21 33 76 69
Cash and cash equivalents 32 30 64 120 4208.10
Bank balances other than above 1 1,851 492 93 93
Loans 1 - - - -
Other Financial Assets 40 75 78 59 69
Other current assets 48 58 79 105 139
Current Tax Assets
Total current assets 790 2,968 1,946 2,029 6,590
Total assets 3,082 5,802.15 5,612 6,998 12,673
Liabilities
Equity
Equity Share Capital 562 624 624 624 644
Other Equity 950 3,213 4,019 4,970 10,433
Total Equity 1,512 3,837.06 4,643 5,594 11,077
- - - -
Non Current Liabilities - - - -
Financial Liabilities - - - -
Borrowings 908 981 246 126 546
Other non-current financial liabilities 18 1 1 1 1
Deferred tax liabilities (net) 40 52 46 64 64
Total Non-Current Liabilities 967 1,034.05 293 191 611
Current Liabilities - - - -
Financial Liabilities - - - -
Borrowings 113 123 7 299 346.79
Trade Payables 200 267 316 458 589.54
Other current financial Liabilities 254 501 330 421 -
Other current liabilities 5 32 11 22 27.74
Provisions 11 8 12 13 20.81
Current Tax Liabilities 19 - - - 0.00
Total Current Liabilities 603 931 677 1,213 984.88
Total equity and Liabilities 3,082 5,802.15 5,612 6,998 12,673
Check - - - - (0)
2021 2022 2023 2024 2025
4009 5581 7358 9261 11205 13115 14931 16609 18125 19469
48% 39% 32% 26% 21% 17% 14% 11% 9% 7%
1859 2309 2715 3048 3289 3434 3488 3461 3369 3228
6.73 7.73 8.73 9.73 10.73 11.73 12.73 13.73 14.73 15.73
-19%
6.04%
3.34%
3%
Terminal
Value
439701
6%
72901
D-Mart
2016 2017
PROFITABILITY RATIOS
1 Gross Profit (or Gross Margin) Gross Profit/ Net Sales 15% 15%
2 Net Profit (or Net Margin) Net Profit/ Net Sales 4% 4%
3 EBITDA Margin EBITDA/ Net Sales 7% 7%
LIQUIDITY RATIOS
1 Current Ratio Current Assets/ Current Liabilities 1.31 3.19
2 Quick Ratio (or Acid Test Ratio) (Current Assets-Inventory)/ Current Liabilities 0.22 2.19
SOLVENCY RATIOS
1 Debt-Equity Ratio (Leverage) Total Debt/ Shareholders' Equity 0.68 0.29
TURNOVER RATIO
1 Daily Inventory Turnover (Inventories * 365)/ Net Sales 28.10 28.67
2 Days Sales Outstanding (DSO) (Closing AR * 365)/ Net Sales 0.36 0.65
3 Days Payables Outstanding (DPO) (Closing AP * 365)/ Net Purchases 8.5 8.2
4 Operating Cycle DIO + DSO 28.46 29.31
5 Cash Conversion Cycle DIO + DSO - DPO 19.92 21.12
DU PONT ANALYSIS
1 Net Profit Margin Net Income / sales 4% 4%
2 Asset turnover (ROA) Total sales/ avereage total assets 2.78 2.67
3 Equity Multiplier Average total assets /average share holder equity 2.04 1.66
4 Return on Equity ROE= 1*2*3 21% 18%
2018 2019 2020 2021 2022 2023 2024 2025
5% 5% 5% 6% 6% 6% 6% 6%
2.63 3.16 2.57 2.36 2.58 2.74 2.85 2.92
1.35 1.23 1.18 1.14 1.15 1.15 1.15 1.14
19% 18% 17% 15% 16% 17% 18% 19%
INR Crore 2016 2017 2018 2019
Revenue drivers
revenue crs 8575.2 11881.1 15008.9 19916.3
revenue/store Rs cr/stores 78.0 90.7 96.8 113.2
revenues/ sq ft rs/ft2 25985.4 28978.3 30630.4 33756.4
revenue/bill cut 1008.8 1095.0 1116.7 1159.3
Growth
revenue 38.55 26.33 32.70
revenue/store 16.34 6.77 16.86
revenues/ sq ft 11.52 5.70 10.21
revenue/bill cut 8.54 1.98 3.81
Expense
Cost of goods sold 7313.89 10095.99 12648.88 16979.94
% of Sales 0.85 0.85 0.84 0.85
Employee cost 146.22 189.47 276.56 335.03
% of Sales 0.02 0.02 0.02 0.02
other expense 458.44 632.00 746.12 959.10
% of Sales 0.05 0.05 0.05 0.05
Taxation 170.44 264.47 411.23 511.29
Effective Tax Rate 0.35 0.35 0.34 0.35
Working capital
Non cash current Assets
inventories 660 933 1147 1576
Investments 0 0 52 0
trade receivable 8 21 33 76
loans 1 0 0 0
other financial assets 40 75 78 59
other current assets 48 58 79 105
Current liabilities
borrowing 113 123 7 299
trade payables 200 267 316 458
other current liabilities 5 32 11 22
provisions 11 8 12 13
tax liabilities 19 0 0 0
Current liabilities
borrowing 4.83 3.77 0.18 5.48
trade payables 8.53 8.19 7.68 8.40
other current liabilities 0.23 0.99 0.27 0.40
provisions 0.46 0.25 0.29 0.23
tax liabilities 0.82 0.00 0.00 0.00
f Days Outstanding
29 29 29 29 29 29
0 0 0 0 0 0
1 1 1 1 1 1
0 0 0 0 0 0
1 1 1 1 1 1
2 2 2 2 2 2
5 5 5 5 5 5
8.5 8.5 8.5 8.5 8.5 8.5
0.4 0.4 0.4 0.4 0.4 0.4
0.3 0.3 0.3 0.3 0.3 0.3
0 0 0 0 0 0
Gross Assets
Tangible 2,157 2,734 3,604 4,768
Intangibe 6 10 12 18
Current PPE value 2,061 2,515 3,234 4,206 5,331 6,725
Current intangible 4.18 6.35 6.20 10.27
Accumulated deprecisation 96.96 222.87 376.42 570.14
Gross Assets per store cr Rs/ stores 19.61 20.87 23.25 27.09
Gross Assets per sq ft Rs / sq ft 6535.15 6669.27 7355.51 8080.98
Capex needed
for new stores 1175 1463
for wear and tear 199 259
total capex 1374 1722