| Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
|---|---|---|---|---|---|---|---|
| Primex-40 | |||||||
| Axles India Limited |
|
PARTICULARS |
31-Mar-23 |
31-Mar-22 |
|
Assets |
|
|
|
Non-current assets |
|
|
|
Property, plant and equipment |
59.11 |
58.20 |
|
Right-of-use assets |
0.01 |
0.08 |
|
Capital work-in-progress |
0.87 |
1.45 |
|
Intangible assets |
0.38 |
0.36 |
|
Investments |
0.50 |
0.50 |
|
Other financial assets |
2.49 |
7.60 |
|
Current tax assets (net) |
1.88 |
1.92 |
|
Other non-current assets |
3.96 |
0.64 |
|
Total non-current assets |
69.20 |
70.75 |
|
Current assets |
|
|
|
Inventories |
123.36 |
103.76 |
|
Trade Receivables |
215.02 |
173.94 |
|
Cash and cash equivalents |
5.71 |
16.72 |
|
Bank balances other than above items |
0.17 |
0.16 |
|
Loans |
0.51 |
0.57 |
|
Other financial assets |
0.04 |
2.90 |
|
Other current assets |
2.45 |
2.29 |
|
Total current assets |
347.26 |
300.34 |
|
Total assets |
416.45 |
371.09 |
|
EQUITY AND LIABILITIES |
|
|
|
Equity |
|
|
|
Equity share capital |
25.49 |
25.49 |
|
Other Equity |
|
|
|
Reserves and surplus |
186.54 |
144.24 |
|
Other Reserves |
-0.91 |
5.67 |
|
Total equity |
211.11 |
175.40 |
|
LIABILITIES |
|
|
|
Non-current liabilities |
|
|
|
Borrowings |
0.09 |
- |
|
Lease liabilities |
- |
0.04 |
|
Employee benefit obligations |
0.07 |
- |
|
Deferred tax liabilities (Net) |
0.50 |
3.47 |
|
Other non-current liabilities |
9.58 |
- |
|
Total non-current liabilities |
10.24 |
3.51 |
|
Current Liabilities |
|
|
|
Borrowings |
53.61 |
58.04 |
|
Lease liabilities |
0.05 |
0.08 |
|
Trade payables: |
|
|
|
Total outstanding dues of micro and small enterprises |
9.78 |
9.63 |
|
Total outstanding dues of creditors other than micro and small enterprises |
102.00 |
93.72 |
|
Other financial liabilities |
9.17 |
5.06 |
|
Provisions |
9.38 |
9.51 |
|
Employee benefit obligations |
4.09 |
3.89 |
|
Other current liabilities |
7.01 |
12.25 |
|
Total current liabilities |
195.10 |
192.17 |
|
Total liabilities |
205.34 |
195.68 |
|
Total equity and liabilities |
416.45 |
371.09 |
|
PARTICULARS |
31-Mar-23 |
31-Mar-22 |
|
REVENUE |
|
|
|
Revenue from operations |
746.35 |
569.56 |
|
Other income |
1.19 |
0.30 |
|
Other gains/(losses) |
-1.61 |
2.50 |
|
Total income |
745.93 |
572.37 |
|
EXPENSES |
0.00 |
0.00 |
|
Cost of materials consumed |
478.39 |
362.59 |
|
Changes in inventories of work-in-progress and finished goods |
-0.99 |
1.01 |
|
Employee benefit expenses |
73.43 |
63.59 |
|
Depreciation and amortization expenses |
11.68 |
10.65 |
|
Other expenses |
111.20 |
88.89 |
|
Finance costs |
1.48 |
0.47 |
|
Total expenses |
675.20 |
527.19 |
|
Profit before tax |
70.73 |
45.18 |
|
Income tax expense / (income) |
||
|
Current Tax |
18.85 |
12.13 |
|
Deferred Tax |
-0.76 |
-0.78 |
|
Total tax expense |
18.09 |
11.35 |
|
Profit for the year |
52.64 |
33.83 |
|
Other comprehensive income |
|
|
|
Items that may be reclassified to profit or loss: |
|
|
|
Net gain/(loss) on cash flow hedges |
-8.80 |
8.17 |
|
Income tax relating to above item |
2.21 |
-2.06 |
|
Items that will not be reclassified to profit or loss: |
|
|
|
Remeasurement of post-employment benefit obligations |
-0.20 |
-0.08 |
|
Income tax relating to above item |
0.05 |
0.02 |
|
Other comprehensive income for the year, net of tax |
-6.74 |
6.05 |
|
Total Comprehensive Income for the year |
45.91 |
39.88 |
|
Earnings per equity share: |
|
|
|
Basic & Diluted earnings per share |
20.66 |
13.28 |
|
PARTICULARS |
31-Mar-23 |
31-Mar-22 |
|
Cash flow from operating activities: |
|
|
|
Profit before income-tax |
70.73 |
45.18 |
|
Adjustments for: |
|
|
|
Interest and other finance cost |
1.47 |
0.44 |
|
Interest expense on lease liability |
0.01 |
0.03 |
|
Net exchange differences |
0.73 |
-0.72 |
|
Depreciation and amortisation expense |
11.68 |
10.65 |
|
Gain on disposal of property, plant and equipment |
-0.08 |
-0.02 |
|
Interest income |
-1.19 |
-0.28 |
|
Operating profit before working capital changes |
83.36 |
55.26 |
|
Changes in working capital: |
|
|
|
(Increase) / decrease in trade receivables |
-41.08 |
-28.33 |
|
(Increase) / decrease in current and non-current loans |
0.06 |
0.02 |
|
(Increase) / decrease in other financial assets |
0.43 |
-1.03 |
|
(Increase) / decrease in current and non-current assets |
-0.15 |
0.79 |
|
(Increase) / decrease in inventories |
-19.60 |
-11.39 |
|
Increase / (decrease) in trade payables |
8.43 |
12.51 |
|
Increase / (decrease) in other financial liabilities |
0.83 |
-2.97 |
|
Increase / (decrease) in provisions |
-0.12 |
1.14 |
|
Increase / (decrease) in employee benefit obligation |
0.07 |
0.29 |
|
Increase / (decrease) in other liabilities |
4.32 |
-0.32 |
|
Cash generated from operations |
36.54 |
25.99 |
|
Income tax paid |
-18.76 |
-12.55 |
|
Net cash inflow from operating activities |
17.78 |
13.44 |
|
Cash flow from investing activities: |
|
|
|
Payments for property, plant and equipment |
-13.49 |
-9.52 |
|
Proceeds from sale of property, plant and equipment |
0.09 |
0.05 |
|
Interest received |
1.19 |
0.28 |
|
Net cash outflow from investing activities |
-12.21 |
-9.19 |
|
Cash flow from financing activities: |
|
|
|
Repayment of short-term borrowings (net) |
-5.15 |
-18.94 |
|
Proceeds from long term borrowings |
0.09 |
- |
|
Principal repayments related to lease liabilities |
-0.07 |
-0.45 |
|
Interest payments related to lease liabilities |
-0.01 |
-0.03 |
|
Interest paid |
-1.25 |
-0.44 |
|
Dividends paid to Company 's shareholders |
-10.19 |
- |
|
Net cash outflow from financing activities |
-16.58 |
-19.85 |
|
Net decrease in cash and cash equivalents |
-11.01 |
-15.60 |
|
Cash and cash equivalents at the beginning of the year |
16.72 |
32.32 |
|
Cash and cash equivalents at the end of the year |
5.71 |
16.72 |
Let 's break down the Cash Flow Statement for the years 2023 and 2022
Year 2023: Operating Activities: In 2023, the cash flow from operating activities increased to 17.78, a significant rise from the previous year 's 13.44. The operating profit before working capital changes surged from 55.26 in 2022 to 83.36 in 2023, primarily driven by adjustments for interest and other finance costs, higher depreciation and amortization expenses, and a positive change in trade receivables. However, income tax paid also increased from -12.55 in 2022 to -18.76 in 2023.
Investing Activities: The net cash outflow from investing activities in 2023 was -12.21, slightly higher than the -9.19 in 2022. This was mainly due to increased payments for property, plant, and equipment. However, there was a modest rise in proceeds from the sale of property, plant, and equipment, along with higher interest received.
Financing Activities: In terms of financing activities, the net cash outflow in 2023 was -16.58, indicating a decrease from -19.85 in 2022. Notable changes included a reduction in the repayment of short-term borrowings and dividends paid to the company 's shareholders. There were also proceeds from long-term borrowings in 2023, unlike in 2022.
Year 2022: Operating Activities: In 2022, the cash flow from operating activities was 13.44, driven by adjustments for interest and other finance costs, depreciation, and changes in working capital. The operating profit before working capital changes increased from 45.26 in 2021 to 55.26 in 2022.
Investing Activities: The net cash outflow from investing activities in 2022 was -9.19, mainly due to payments for property, plant, and equipment. There were slight proceeds from the sale of property, plant, and equipment, along with interest received.
Financing Activities: Financing activities in 2022 resulted in a net cash outflow of -19.85, with significant repayments of short-term borrowings and interest payments.
|
PARTICULARS |
31-Mar-23 |
31-Mar-22 |
|
Debt to equity ratio |
0.23 |
0.24 |
|
Current ratio |
1.78 |
1.56 |
|
Debt service coverage ratio |
1.2 |
0.76 |
|
Return on equity ratio % |
27% |
22% |
|
Inventory turnover ratio |
6.05 |
5.49 |
|
Trade receivable turnover ratio |
3.84 |
3.57 |
|
Trade payables turnover ratio |
4.6 |
3.87 |
|
Net profit ratio % |
7% |
6% |
|
Return on capital employed% |
28% |
21% |
|
Return on investment |
17% |
12% |
The financial ratios of Axles India provide insight into the company 's financial performance and position For March 31, 2023
Debt to Equity Ratio: The company 's debt to equity ratio decreased slightly from 0.24 in 2022 to 0.23 in 2023, indicating a slightly lower reliance on debt to finance its operations.
Current Ratio: The current ratio increased from 1.56 in 2022 to 1.78 in 2023, suggesting an improvement in the company 's short-term liquidity position. A current ratio above 1 indicates that the company has more current assets than current liabilities.
Debt Service Coverage Ratio: The debt service coverage ratio improved significantly from 0.76 in 2022 to 1.2 in 2023, indicating an enhanced ability to cover its debt obligations with operating income.
Return on Equity (ROE) Ratio: The ROE ratio increased from 22% in 2022 to 27% in 2023, reflecting higher profitability generated by the company for its shareholders ' equity.
Inventory Turnover Ratio: The inventory turnover ratio increased to 6.05 in 2023 from 5.49 in 2022, indicating that the company is managing its inventory more efficiently.
Trade Receivable Turnover Ratio: The trade receivable turnover ratio increased from 3.57 in 2022 to 3.84 in 2023, suggesting improved efficiency in collecting receivables.
Trade Payables Turnover Ratio: The trade payables turnover ratio increased to 4.6 in 2023 from 3.87 in 2022, indicating a shorter payment period for trade payables.
Net Profit Ratio: The net profit ratio increased from 6% in 2022 to 7% in 2023, reflecting a higher percentage of net profit relative to total revenue.
Return on Capital Employed (ROCE): The ROCE increased from 21% in 2022 to 28% in 2023, indicating improved efficiency in utilizing both equity and debt capital.
Return on Investment (ROI): The return on investment increased from 12% in 2022 to 17% in 2023, signifying better returns on the overall investment made in the company.
These ratios collectively suggest an overall improvement in Axles India 's financial health and operational efficiency from 2022 to 2023. The company has effectively managed its debt, improved liquidity, and demonstrated increased profitability and efficiency in resource utilization.
|
Particulars |
2023 |
2022 |
|
Dividend (In Rs.) |
9 |
4 |
|
Retained Earnings (In Rs. Lakhs) |
185.75 |
143.46 |
