Abhishek Corporation Annual Reports, Balance Sheet and Financials

Abhishek Corporation Limited Balance Sheet (Rs in Lakhs)

Abhishek Corporation Limited Profit & Loss Statement (Rs in Lakhs)

Abhishek Corporation Limited Consolidated Cash Flow Statement (Rs in Lakhs)

Here is a summary of the Cash Flow Statement for the years 2023 and 2022:

Cash Flow from Operating Activities

Profit/(Loss) after Tax:

The company reported a net loss after tax of ₹-1,646.40 in 2023, a slight improvement compared to a net loss of ₹-1,765.99 in 2022.

Adjustment for:

Depreciation and Amortization Expense: Depreciation and amortization expenses were ₹1,162.22 in 2023, down from ₹1,769.75 in 2022. These expenses are non-cash charges that reflect the wear and tear of fixed assets over time.

Operating Profit before Working Capital Changes:

After adjusting for depreciation, the operating profit before working capital changes was ₹-484.18 in 2023, compared to ₹3.76 in 2022. This indicates the core operational performance before considering changes in working capital.

Adjustment for Working Capital Changes:

(Increase)/Decrease in Trade Receivables: Trade receivables decreased by ₹238.53 in 2023, indicating an improvement in cash collection from customers, compared to a decrease of ₹49.79 in 2022.

(Increase)/Decrease in Inventories/Other Current Assets: There was a minimal change in inventories and other current assets, with an increase of ₹0.44 in 2023, compared to ₹1.99 in 2022.

Increase/(Decrease) in Trade Payables: Trade payables increased by ₹202.05 in 2023, compared to an increase of ₹14.49 in 2022, suggesting an increase in outstanding obligations to suppliers.

Increase/(Decrease) in Other Current Liabilities/Provisions: Other current liabilities and provisions increased by ₹40.58 in 2023, compared to a decrease of ₹-17.61 in 2022.

Net Cash from Operating Activities:

The net cash flow from operating activities was ₹-2.58 in 2023, compared to ₹52.43 in 2022, indicating a marginal net outflow from operations in the current year.

Cash Flow from Investing Activities

(Increase)/Decrease in Deposits:

There was an increase in deposits by ₹-22.06 in 2023, with no comparable figure for 2022.

(Increase)/Decrease in Loans and Advances:

Loans and advances decreased by ₹34.8 in 2023, compared to an increase of ₹-28.84 in 2022, indicating a recovery of previously issued loans and advances.

(Increase)/Decrease in Fixed Assets:

Fixed assets saw a minimal increase of ₹-0.62 in 2023, compared to ₹-2.13 in 2022, reflecting a small investment in long-term assets.

Net Cash from Investing Activities:

The net cash flow from investing activities was ₹12.12 in 2023, compared to ₹-30.97 in 2022, indicating a positive cash flow from investing activities in the current year.

Net Increase/(Decrease) in Cash & Cash Equivalents

The net increase in cash and cash equivalents was ₹9.54 in 2023, compared to ₹21.46 in 2022, indicating a smaller increase in the current year.

Cash & Cash Equivalents at the Beginning and End of the Period

At the Beginning of the Period:

Cash and cash equivalents at the beginning of the period were ₹449.37 in 2023, compared to ₹427.91 in 2022.

At the End of the Period:

Cash and cash equivalents at the end of the period were ₹458.91 in 2023, compared to ₹449.37 in 2022.

Financial Ratios of Abhishek Corporation Limited

Here is a summary of the financial and operational metrics for Abhishek Corporation Limited for the year 2023 & 2022:

Current Ratio: The current ratio decreased slightly from 0.014 in 2022 to 0.011 in 2023. This very low ratio indicates that the company has extremely limited liquidity and may struggle to cover its short-term liabilities with its current assets.

Debt Equity Ratio: The debt equity ratio improved marginally from -1.08 in 2022 to -1.06 in 2023. A negative debt equity ratio suggests that the company has negative equity, meaning liabilities exceed assets, which is a critical financial distress indicator.

Trade Receivables Turnover Ratio: The trade receivables turnover ratio increased significantly from 6.19 in 2022 to 51.4 in 2023. This substantial improvement indicates that the company is collecting its receivables much faster, improving its cash flow management.

Trade Payable Turnover Ratio: The trade payables turnover ratio decreased from 0.036 in 2022 to 0.025 in 2023. This decline suggests that the company is taking longer to pay its suppliers, which might be a strategy to manage cash flow more effectively or could indicate liquidity issues.

Net Capital Turnover Ratio: The net capital turnover ratio improved slightly from -0.03 in 2022 to -0.02 in 2023. Despite the negative ratio, this slight improvement indicates a marginally better utilization of net capital in generating revenue.

Net Profit Ratio: The net profit ratio deteriorated from -66.6% in 2022 to -102.43% in 2023. This significant decline indicates that the company is experiencing substantial losses relative to its revenue, highlighting severe profitability issues.

Return on Investment (ROI): The return on investment decreased from 6.65% in 2022 to 4.24% in 2023. This decline suggests that the company 's investments are yielding lower returns, indicating less efficient use of investment capital.