Agarwal Duplex Board Annual Report | Balance Sheet

Agarwal Duplex Board Mills Limited (Agarwal Duplex) Return Comparision with Primex 40 Index

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Agarwal Duplex Board Mills Limited

BALANCE SHEET OF AGARWAL DUPLEX BOARD MILLS LIMITED (In Rs. Lakhs)

PARTICULARS	31st March 2022	31st March 2021	31st March 2020
ASSETS
NON CURRENT ASSETS
Property, Plant & Equipment	1,257.84	1,385.59	1,534.79
Capital Work in Progress	-	-
TOTAL NON CURRENT ASSETS	1,482.52	1,610.27	1759.47
CURRENT ASSETS
Inventories	3,093.69	2,220.74	769.76
Trade receivables	3,844.69	2,845.24	3164.09
Cash and cash equivalent	34	27.23	50.03
Bank balance other than cash and cash equivalents	30.23	28.87	27.35
Other current assets	122.13	175.02	395.33
TOTAL CURRENT ASSETS	7124.74	5297.10	4406.56
TOTAL ASSETS	8607.26	6907.37	6166.03
EQUITY AND LIABILITIES
EQUITY
Equity Share Capital	1350	1350	1350
Other Equity	1539.16	1417.20	1346.58
TOTAL EQUITY	2289.16	2767.20	2696.58
LIABILITIES
NON CURRENT LIABILITIES
Borrowings	107.24	119.94	18.96
Deferred Tax Liabilities	148.18	158.70	162.47
Provisions	210.46	185.02	181.85
TOTAL NON CURRENT LIABILITIES	465.88	463.66	363.28
CURRENT LIABILITIES
Borrowings	873.11	979.35	922.10
Trade Payables	3322.62	2079.15	1802.12
Other Financial Liabilities	72.92	124.19	36.20
Provisions	61.99	60.95	44.84
Other Current Liabilities	896.16	430.85	271.40
TOTAL CURRENT LIABILITIES	5252.22	3676.51	3106.17
TOTAL LIABILITIES	5718.10	4140.17	3469.45
TOTAL EQUITY AND LIABILITIES	8607.26	6907.37	6166.03

PROFIT & LOSS STATEMENT OF AGARWAL DUPLEX BOARD MILLS LIMITED (In Rs. Lakhs)

PARTICULARS	2022	2021	2020	2019
Revenue from Operations	20433.04	12730.04	15347.64	15629.38
EBITDA	452.73	377.06	449.49	434.84
EBITDA margins	2.21%	2.96%	2.92%	2.78%
Finance Cost	102.04	116.67	116.53	118.37
Depreciation	178.62	175.08	172.07	156.65
Other Income	1.52	1.70	4.21	5.65
Profit/Loss before Exceptional items and Tax	172.07	85.31	160.89	159.82
Exceptional items	-	-	-	7.48
Total Tax	64.54	37.2	46.73	23.66
Profit After Tax (PAT)	107.53	48.11	114.16	128.68
PAT Margin	0.52%	0.37%	0.74%	0.82%
EPS	0.08	0.04	0.08	0.95

Agarwal Duplex Cash Flow Statement for the last three years (In Rs. Crore)

Particulars	31st march 2022	31st march 2021	31st march 2020
Cash Flow Summary
Cash and Cash Equivalents at Beginning of the year	10.57	5.43	0.16
Net Cash from Operating Activities	-16.35	-0.01	17.6
Net Profit before Tax & Extraordinary Items	5.16	3.95	3.82
Depreciation	1.3	1.24	1.63
P/L on Sales of Assets	0	0	1.19
P/L on Sales of Invest	0	0	-0.18
Prov. & W/O (Net)	0	0	-0.09
Others	0.01	0.01	0
Total Adjustments (PBT & Extraordinary Items)	1.31	1.25	2.56
Op. Profit before Working Capital Changes	6.47	5.2	6.38
Trade & 0th receivables	-9.43	0.2	6.32
Inventories	-8.64	-4.69	9.63
Trade Payables	0.11	0.67	-1.53
Others	-2.78	0.14	-1.71
Total (OP before Working Capital Changes)	-20.74	-3.68	12.72
Cash Generated from/(used in) Operations	-14.27	1.52	19.09
Interest Paid(Net)	-0.77	-0.51	-0.42
Direct Taxes Paid	-1.31	-1.02	-1.07
Total-others	-2.08	-1.53	-1.49
Cash Flow before Extraordinary Items	-16.35	-0.01	17.6
Net Cash Used in Investing Activities	-1.27	-1.63	0.74
Sale of Fixed Assets	0	0	0.78
Capital Expenditure	0	0	-0.25
Purchase of Investments	-1.27	-1.81	0
Sale of Investments	0	0	0.2
Interest Received	0	0.18	0.02
Net Cash Used in Financing Activities	10.02	6.78	-13.07
Proceed from 0ther Long Term Borrowings	0	8.63	0
Proceed from Short Tem Borrowings	10.02	0	0
Of the Long Tem Borrowings	0	-1.85	-1.85
Of the short term Borrowings	0	0	-11.22
Net Inc/(Dec) in Cash and Cash Equivalent	-7.59	5.14	5.27
Cash and Cash Equivalents at End of the year	2.98	10.57	5.43

Summary of Agarwal Duplex Cash Flow Statement for the Last Three Years:

1. Operating Activities:

- Net Cash from Operating Activities: The company had a net cash outflow of Rs. 16.35 crore in 2022, Rs. 0.01 crore outflow in 2021, and a net cash inflow of Rs. 17.6 crore in 2020 from its operating activities.

- Adjustments to Profit before Tax & Extraordinary Items: There were total adjustments of Rs. 1.31 crore in 2022, Rs. 1.25 crore in 2021, and Rs. 2.56 crore in 2020, which were added to the net profit before tax and extraordinary items.

- Working Capital Changes: The company experienced significant changes in working capital over the three years, resulting in negative cash flows from operating activities.

2. Investing Activities:

- Net Cash Used in Investing Activities: Agarwal Duplex had a net cash outflow of Rs. 1.27 crore in 2022, Rs. 1.63 crore outflow in 2021, and a net cash inflow of Rs. 0.74 crore in 2020 from its investing activities.

- Capital Expenditure: The company did not incur any capital expenditure in any of the three years.

- Purchase and Sale of Investments: The company purchased investments worth Rs. 1.27 crore in 2022, Rs. 1.81 crore in 2021, and had no purchases in 2020. There were no sales of investments in any of the years.

- Sale of Fixed Assets: Agarwal Duplex did not sell any fixed assets in any of the three years.

3. Financing Activities:

- Net Cash Used in Financing Activities: The company had a net cash inflow of Rs. 10.02 crore in 2022, Rs. 6.78 crore inflow in 2021, and a net cash outflow of Rs. 13.07 crore in 2020 from its financing activities.

- Borrowings: The company obtained short-term borrowings of Rs. 10.02 crore in 2022, Rs. 8.63 crore in 2021, and had no short-term borrowings in 2020. There were no long-term borrowings in 2022, while in 2021, there was a decrease of Rs. 1.85 crore, and in 2020, there was a decrease of Rs. 1.85 crore.

4. Cash and Cash Equivalents:

- Cash and Cash Equivalents at the Beginning of the Year: The company had Rs. 10.57 crore in cash and cash equivalents in 2022, Rs. 5.43 crore in 2021, and Rs. 0.16 crore in 2020.

- Cash Generated from/(Used in) Operations: Agarwal Duplex had a net cash outflow of Rs. 14.27 crore in 2022, Rs. 1.52 crore outflow in 2021, and a net cash inflow of Rs. 19.09 crore in 2020 from its operations.

- Cash and Cash Equivalents at the End of the Year: The company had Rs. 2.98 crore in cash and cash equivalents in 2022, Rs. 10.57 crore in 2021, and Rs. 5.43 crore in 2020 at the end of the respective years.

Funds Flow Statement Of Agarwal Duplex Board Mills Limited (Rs. In Crores)

Particulars	Mar-22	Mar-21	Mar-20	Mar-19	Mar-18
Sources of funds
Cash profit	2.86	2.16	2.86	2.72	2.6
Increase in other networth	0.14	0.22	0	0	0.11
Increase in loan funds	0	2.5	0.69	0	0
Decrease in investments	0	0	0	7.41	0
Total Inflow	3	4.88	3.55	10.13	2.71
Application of funds
Decrease in networth	0	0	0.03	0.13	0
Decrease in loan funds	1.45	0	0	6.84	1.36
Increase in gross block	0.51	0.18	0.26	2.68	0.87
Increase in working capital	1.05	4.69	3.27	0.47	0.47
Total Outflow	3.01	4.87	3.56	10.12	2.7

DIVIDEND HISTORY

Particulars	2022	2021	2020
Dividend (final + interim) (In Rs.)	-	-	-
Retained Earnings(In Rs. Lakhs)	1,433.16	1,325.63	1,277.52

PERFORMANCE OF THE COMPANY

Revenue from Operations of the company increased by 60.51% from Rs. 12730.04 lakhs in FY 2021 to Rs. 20433.04 lakhs in FY 2022.

EBITDA of the company increased by 20.06% from Rs. 377.06 lakhs in FY 2021 to Rs. 452.73 lakhs in FY 2022.

Total borrowings of the company decreased from Rs. 1099.29 lakhs as of 31st March 2021 to Rs. 980.35 lakhs as of 31st March 2022. Due to this, Finance cost to company decreased by 12.53% from Rs. 116.67 lakhs to Rs. 102.04 lakhs.

Profit after Tax of the company increased by 123.50% from Rs. 48.11 lakhs in FY 2021 to Rs. 107.53 lakhs in FY 2022.

The Current Ratio of the company as of 31st March 2022 was 1.35.

The Debt to Equity Ratio of the company as of 31st March 2022 was 0.34.

The book value of the company as of 31st March 2022 was Rs. 2.14

Agarwal Duplex Board Annual Reports, Balance Sheet and Financials