Capgemini Annual Report | Balance Sheet

Capgemini Technology Services India Limited (Capgemini) Return Comparision with Primex 40 Index

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Capgemini Technology Services India Limited

Capgemini Technology Services India Limited Balance Sheet (INR in million)

PARTICULAR	As at 31st March 2023	As at 31st March 2022	As at 31st March 2021
ASSETS
Non-current assets
Property, plant and equipment	27534	29,955	27,236
Right-of-use assets	7706	8,217	9,965
Capital work-in-progress	232	234	135
Goodwill	8522	8,522	8,522
Other Intangible assets	484	516	635
Financial assets
Investments	472	668	-
Loans	1029	766	225
Others	2558	1,557	1,826
Deferred tax assets (net)	5283	6,692	9,731
Income tax assets (net)	16741	14,240	9,418
Other non-current assets	1630	2,250	2,087
Total non-current assets	72191	73,617	69,780
Current assets
Financial assets
Investments	81147	57,611	46,788
Trade receivables	51564	48,199	36,000
Cash and cash equivalents	9216	6,939	9,107
Bank balances other than cash and cash equivalents	1	1	1
Others	932	499	630
Other current assets	10444	7,611	5,655
Total current assets	153304	1,20,860	98,181
TOTAL ASSETS	225495	1,94,477	1,67,961
EQUITY AND LIABILITIES
Equity
Equity share capital	593	591	591
Other equity	179937	1,47,424	1,26,049
Equity attributable to share-holders of the Company	180530	1,48,015	1,26,640
Non controlling interests	-	501	456
Total equity	180530	1,48,516	1,27,096
Non-current liabilities
Financial liabilities
Lease liabilities	5146	5,959	7,189
Provisions	5420	6,974	5,368
Others	-	-	68
Other non- current liabilities	-	-	124
Total non-current liabilities	10566	12,933	12,749
Current liabilities
Financial liabilities
Trade and other payables
Total outstanding dues of micro enterprises and small enterprises	391	396	12
Total outstanding dues of creditors other than micro enterprises and small enterprises	8561	7,924	6,465
Lease liabilities	2235	1,928	2,442
Others	4239	4,386	4,107
Other current liabilities	5874	5,822	4,421
Provisions	11335	10,122	8,099
Income tax liabilities (net)	1764	2,450	2,570
Total current liabilities	34,399	33,028	28,116
Total liabilities	44,965	45,961	40,865
TOTAL EQUITY AND LIABILITIES	2,25,495	1,94,477	1,67,961

Capgemini Technology Services India Limited Profit & Loss Statement (INR in million)

PARTICULAR	31st March 2023	31st March 2022	31st March 2021
Revenue from operations	278754	2,26,288	1,76,483
Other income	5099	4,362	3,975
Total income	283853	230650	180458
Expenses
Employee benefit expense	202684	1,63,492	1,24,233
Finance costs	566	759	927
Depreciation and amortisation expenses	9830	8,755	8,384
Other expenses	31040	25,840	20,791
Total expenses	244120	1,98,846	1,54,335
Profit before tax	39733	31,804	26,123
Income tax expense:
Current tax	9244	9,268	6,663
Deferred tax	-1259	-534	2,577
Profit for the year	31748	23,070	16,883
Other comprehensive income/(loss)
Items that will not be reclassified to Profit or Loss
Remeasurements of post-employment benefit obligations	789	-2,114	3,882
Income tax relating to above item	-312	638	-1,014
Items that will be reclassified to Profit or Loss
Net (loss) on cash flow hedges	-3	-138	691
Income tax relating to above item	3	49	-241
Exchange differences on translation of foreign operations	85	28	-4
Total other comprehensive income/(loss) for the year, net of tax	562	-1,537	3,314
Total comprehensive income for the year	32310	21,533	20,197
Profit attributable to:
Owners of the Company	31748	23,024	16,849
Non-controlling interests	-	46	34
Other comprehensive income attributable to:
Owners of the Company	562	-1,536	3,303
Non-controlling interests	-	-1	11
Total comprehensive income attributable to:
Owners of the Company	32310	21,488	20,152
Non-controlling interests	-	45	45
Earnings per equity share
Basic and diluted earnings per equity share of face value of Rs. 10 each (in INR)	535.64	389.32	284.9

Capgemini Technology Services India Limited Consolidated Cash Flow Statement (INR in million)

PARTICULAR	For The Year Ended 31-03-2023	For The Year Ended 31-03-2022	For The Year Ended 31-03-2022
A. Cash flows from operating activities
Profit before tax	39733	31,804	26,123
Adjustments for:
Depreciation and amortisation expenses	9830	8,755	8,384
Profit on sale of non-current investments	-13	-65	-
Income on mutual funds	-3770	-2,255	-2,772
Provisions no longer required written back	-18	-151	-24
Provision for doubtful trade receivables written (back)/off	-57	-326	-178
Bad trade receivables written off	2	334	319
Provision for doubtful security deposits	-2	-14	61
Profit on sale / disposal of assets (net)	-206	-171	-169
Gain on sale of net assets of branches	-	-749	-
Interest on deposits with banks	-409	-108	-587
Other interest income	-400	-21	-13
Interest expense on income tax	-	112	78
Interest on lease obligations	544	642	843
Interest under MSMED Act, 2006	22	2	-
Employee stock compensation expense	1772	1,374	1,172
Unrealised foreign currency (gain)/loss (net)	149	-128	640
Other miscellaneous income	-	-53	-
Other provisions	-	-	166
Operating profit before working capital changes	47177	38,982	34,043
Changes in working capital
Increase in trade and other payables	593	2,229	-944
Increase in other current financial liabilities	110	439	-344
Increase in other non current liabilities	-	3	82
Decrease in other non current financials liabilities	-	-4	-
Increase in other current liabilities	52	1,401	660
Increase in provisions	448	1,717	216
Increase in trade receivables	-3352	-13,508	1,091
Decrease/ (Increase) in non-current assets	367	-369	83
Increase in other current assets	-2830	-1,956	3,559
Decrease in other financial assets	171	269	1,714
Cash generated from operations	42736	29,203	40,160
Taxes paid, net	-9705	-10,124	-6,122
Net cash generated from operating activities (A)	33031	19,079	34,038
B. Cash flows from investing activities
Purchase of tangible and intangible assets	-5103	-8,531	-4,226
Proceeds from sale of tangible and intangible assets	284	78	113
Proceed from sale of non-current investments	-	177	-
Purchase of current investments	-248784	-1,94,209	-1,87,896
Proceeds from sale of current investments	229016	1,85,641	1,97,476
Consideration received on sale of net assets of branches	22	1,602	-
Loans repaid	-	-	192
Proceeds from liquidation of subsidiary	-	5	-
Loans given	-230	-541	-
Interest received on fixed deposits	296	193	785
Purchase of non-current investments	-	-20	-
Proceed from partial redemption of non-current investments	208	-784	-
Receipt of excess purchase consideration	9	-
Amount invested in fixed deposits	-1443	-
Purchase of equity shares of subsidiary		-20	-43,490
Proceeds from liquidation of subsidiary		5	-
Proceeds from margin money deposits		-	1
Proceeds from bank deposit		-	69
Net cash used in investing activities (B)	-25,725	-16,389	-36,976
C. Cash flows from financing activities
Payment towards share based payment liability	-2,049	-1,487	-944
Payment to non- controlling interests of Aricent Technologies (Holdings) Limited	-19	-	-
Interest on lease obligations	-544	-642	-843
Payment of lease liabilities	-2,357	-2,334	-2,600
Net cash used in financing activities (C)	-4,969	-4,463	-4,387
Net decrease in cash and cash equivalents (A+B+C)	2,337	-1,773	-7,325
Effect of exchange differences on translation of foreign currency cash and cash equivalent	-60	61	-20
Less: transfer of cash and cash equivalent as a part of slump sale of net assets of branches	-	-456	-
Add: Cash balances taken over pursuant to business combination	-	-	2,333
Cash and Cash equivalents at the beginning of the year	6,939	9,107	14,119
Cash and Cash equivalents at the end of the year	9,216	6,939	9,107

Let 's break down the Cash Flow Statement for the years 2023, 2022, and 2021, activity-wise:

Operating Activities:

In 2023, the operating profit before working capital changes was Rs47,177 million, representing a notable increase from Rs38,982 million in 2022 and Rs34,043 million in 2021. This was primarily driven by improved profit before tax.

Cash generated from operations amounted to Rs42,736 million in 2023, Rs29,203 million in 2022, and Rs40,160 million in 2021.

The company paid net taxes of Rs9,705 million in 2023, Rs10,124 million in 2022, and Rs6,122 million in 2021.

Investing Activities:

The company engaged in various investing activities, including the purchase and sale of tangible/intangible assets and investments.

Notably, in 2023, there was a substantial purchase of current investments (Rs248,784 million) and proceeds from the sale of current investments (Rs229,016 million), resulting in a net cash outflow of Rs25,725 million in investing activities. Similar trends were observed in 2022 and 2021.

Financing Activities:

Financing activities included payments towards share-based payment liability, payments to non-controlling interests, interest on lease obligations, and payment of lease liabilities.

In 2023, the net cash used in financing activities was Rs4,969 million, compared to Rs4,463 million in 2022 and Rs4,387 million in 2021.

Net Cash Position:

The net decrease in cash and cash equivalents (A+B+C) in 2023 was Rs2,337 million, indicating a positive cash flow. In contrast, 2022 and 2021 experienced net decreases of Rs1,773 million and Rs7,325 million, respectively.

Exchange differences, transfer of cash as part of a slump sale, and cash balances taken over pursuant to business combinations had varying impacts on the ending cash and cash equivalents.

Consequently, the closing cash and cash equivalents at the end of the years were Rs9,216 million in 2023, Rs6,939 million in 2022, and Rs9,107 million in 2021.

Below are the Financial Ratios :

Financial ratios	31st March 2023	31st March 2022
Current ratio	4.46	3.66
Debt-equity ratio	0.04	0.05
Debt service coverage ratio	13.73	11.5
Return on equity ratio	18.06%	17.05%
Trade receivables turnover ratio	6.45	7.01
Trade payable turnover ratio	3.78	4.12
Net capital turnover ratio	2.34	2.58
Net profit ratio	10.64%	11.03%
Return on capital employed	21.56%	20.59%

Here is a summary of the financial and operational metrics for Capgemini Technology Services India Limited for the years 2023 and 2022

Current Ratio:
The current ratio has improved from 3.66 in 2022 to 4.46 in 2023, indicating a strengthened ability to cover short-term liabilities with current assets. This suggests improved liquidity.

Debt-Equity Ratio:
The decrease in the debt-equity ratio from 0.05 in 2022 to 0.04 in 2023 implies a reduced reliance on debt for financing. It reflects a more conservative financial structure.

Debt Service Coverage Ratio:
The debt service coverage ratio has improved, reaching 13.73 in 2023. This indicates a stronger ability to cover interest and principal payments with operating income.

Return on Equity (ROE) Ratio:
The increase in ROE from 17.05% in 2022 to 18.06% in 2023 signifies improved profitability in relation to shareholders ' equity.

Trade Receivables Turnover Ratio:

While there 's a slight decrease in the trade receivables turnover ratio, from 7.01 in 2022 to 6.45 in 2023, the company is still managing its receivables effectively.

Trade Payable Turnover Ratio:

The decrease in the trade payable turnover ratio from 4.12 in 2022 to 3.78 in 2023 suggests a potential extension in the payment period to suppliers.

Net Capital Turnover Ratio:

The decrease in the net capital turnover ratio indicates a potential decrease in efficiency in utilizing capital to generate sales.

Net Profit Ratio:

The slight decrease in the net profit ratio from 11.03% in 2022 to 10.64% in 2023 may suggest a slightly lower net profitability in relation to sales.

Return on Capital Employed (ROCE) Ratio:

The increase in ROCE from 20.59% in 2022 to 21.56% in 2023 indicates improved efficiency in utilizing both equity and debt to generate returns.

Dividend History of Capgemini Technology Services India Limited

Particulars	2023	2022	2021
Dividend (final + interim) (In Rs.)	-	-	-
Retained Earnings (In Rs. Millions)	1,68,912	1,38,165	1,16,554

Capgemini Annual Reports, Balance Sheet and Financials

Capgemini Technology Services India Limited (Capgemini) Return Comparision with Primex 40 Index

Capgemini Technology Services India Limited Balance Sheet (INR in million)

Capgemini Technology Services India Limited Profit & Loss Statement (INR in million)

Capgemini Technology Services India Limited Consolidated Cash Flow Statement (INR in million)

Let 's break down the Cash Flow Statement for the years 2023, 2022, and 2021, activity-wise:

Dividend History of Capgemini Technology Services India Limited

Annual Report

Capgemini Technology Annual Report 2022-23

Capgemini Technology Annual Report 2021-22

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