Gland B2B Business Model and Growth Strategy
Financial Highlights (3/3)
Focus on Capital efficiency and healthy return ratios
Asset Turnover Ratio (1)(2)
0.7
0.6
2.8
2.4
Total asset turnover
Fixed asset turnover
■Mar'20 Mar'21
Cash Flow from Operations
(INR Mn)
7,009
FY20
6,049
FY21
ROCE (3) / RONW (4)
(%)
32%
21%
21%
33%
17%
17%
Mar'20
Mar'21
*ROCE (Ex-Cash)
ROCE
RONW
Cash Conversion Cycle (CCC) (5)(6)
(# of Days)
90 83 71
262
231
174
128
73
57
224
229
200
Receivable days
Inventory days
Payable days
Cash conversion cycle
FY19
FY20
■FY21
5
Note: (1) Asset Turnover is calculated as Total Income for the year divided by total assets on the last day of the year; (2) Fixed Asset Turnover is calculated as Total Income for the year divided by total fixed assets (Property, plant and equipment on the last day of the year + Right-of-use assets + Capital
work in progress on the last day of the year; (3) Return on Capital Employed (ROCE) Profit for the year / Capital Employed on the last day of the year. Capital Employed represents Total Assets - Current Liabilities; (4) Return on Net Worth (RONW) = Profit for the year / Net Worth on the last day of the
year. Net Worth represents sum of equity share capital and other equity; (5) COGS means cost of goods sold includes cost of materials consumed, purchases of traded goods, change in inventories of finished goods, traded goods and work-in-progress and manufacturing overheads (6) Receivable days
calculated as current trade receivables as on balance sheet date divided by revenue from operations * over 365 days, inventory days calculated as inventory as on balance sheet date divided by COGS* over 365 days, & payable days calculated as trade payable as on balance sheet date divided by
COGS* over 365 days. CCC calculated as Receivable days + Inventory days - Payable days
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