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Hero FinCorp Annual Reports, Balance Sheet and Financials

Hero FinCorp Limited (Hero Fincorp) Return Comparision with Primex 40 Index

Periods 1 Week 1 Month 3 Months 6 Months 1 Year 3 Years All Time
Primex-40
Hero FinCorp Limited

Balance Sheet of Hero FinCorp Limited (Rs. In Crore)

Particulars

31st March 2023

31st March 2022

31st March 2021

Assets

 

   

Financial Assets

 

   

Cash and Cash equivalents

750.01

874.49

1,106.87

Investments

1747.49

1,172.98

1,917.24

Loans

39,871.27

31,341.04

26,194.69

Trade receivables

1.45

2.12

7.98

Other financial assets

346.65

276.53

113.11

Total Financial Assets

42,716.87

33,667.16

29,456.02

Non-Financial Assets

 

   

Tax assets

523.56

550.33

383.47

Property, plant and equipment

67.59

49.52

53.05

Intangible assets

19.15

21.41

22.54

Other Non-financial assets

124.05

110.63

80.95

Total Non- Financial Assets

734.35

731.89

540.01

Total Assets

43,451.22

34,399.05

29,996.03

Equity And Liabilities

 

   

Equity share capital

127.31

127.31

127.31

Other Equity

5120.52

4642.67

4,840.45

Total Equity

5247.83

4,769.98

4,967.76

Liabilities

 

   

Financial Liabilities

 

   

Payables

498.5

304.81

257.67

Borrowings

26,612.99

22,008.69

19,156.51

Subordinated liabilities

3267.79

643.16

642.91

Other Financial liabilities

7692.95

643.21

4875.89

Total Financial Liabilities

38,072.23

29,515.66

24,932.98

Non-Financial Liabilities

 

   

Tax Liabilities

1.03

-

8.60

Provisions

54.87

48.06

41.69

Other Non-financial liabilities

75.26

65.35

45.00

Total Non-Financial Liabilities

131.16

113.41

95.29

Total Liabilities

38,203.39

29,629.07

25,028.27

Total Equity And Liabilities

43,451.22

34,399.05

29,996.03

Profit & Loss Statement of Hero FinCorp Limited (Rs. In Crore)

Particulars

2023

2022

2021

Revenue From Operations

6401.60

4,738.66

4,278.08

Other Income

45.95

59.00

55.44

Total Income

6447.55

4797.66

4333.52

EBITDA

2889.53

1546.85

1903.12

EBITDA margin

44.81%

32.24%

43.91%

Finance Cost

2173.95

1,678.53

1,710.31

Depreciation

37.93

33.19

35.21

Other Expense

3500.45

59.00

55.44

Profit Before Tax

735.22

(254.03)

71.07

Total Tax

255.27

(62.13)

19.45

Profit/ (loss) after tax

479.95

(191.90)

51.62

PAT Margins (%)

7.45%

(4.04)%

1.20%

EPS (Diluted)

37.67

(15.07)

4.22

Hero FinCorp Limited Cash Flow Statement for the last three years (In Rs. Crore)

Particulars 

2022-23

2021-22

2020-21

Cash Flow from Operating Activities     

 

   

Profit/ (loss) before tax

735.22

(254.03)

71.07

Adjusted for:        

 

   

 Depreciation and Amortisation Expense     

37.93

33.19

35.21

Impairment on financial instruments

1212.23

1840.81

1417.74

Dividend income from investments

(0.74)

(0.74)

(0.74)

Discount on commercial paper

157.60

110.09

147.19

Employee share based payment expense

8.32

6.21

5.86

Net loss on sale of property, plant and equipment

1.60

2.15

3.52

Interest income on fixed deposit and investments

(68.72)

(39.58)

(47.80)

Interest expense on lease liability

4.51

3.98

4.51

Gain on derecognition of financial instruments under amortized cost category

(23.13)

(15.84)

-

Net loss/(gain) on fair value changes

299.71

(21.05)

(22.66)

Profit on sale of investments

(85.63)

(43.44)

(23.94)

Operating Profit Before Working Capital Changes    

2278.90

1621.75

1589.96

Decrease in trade receivables

0.67

5.86

(0.11)

Increase in loans

(9742.46)

(6987.16)

(3349.34)

(Increase)/ decrease in bank balance other than cash and cash equivalents

123.30

(48.39)

(115.61)

(Increase)/ decrease in other financial assets

(56.70)

16.98

(80.30)

Increase in other non-financial assets

(6.27)

(31.54)

(15.50)

Increase in other financial liabilities

402.73

48.05

191.03

Increase in trade payables

193.72

47.13

89.02

Increase in other non financial liabilities

9.90

20.36

2.72

Increase in Provisions

7.22

5.27

7.25

Net cash used in operating activities before income tax      

(6788.99)

(5301.69)

(1680.88)

Income Tax Paid (Net) 

(227.42)

(109.86)

(159.12)

Net Cash used in Operating Activities (A)    

(7016.41)

(5411.55)

(1840)

B: Cash Flow from Investing Activities    

 

   

Purchase of Property, Plant, Equipment, and Other Intangible Assets

(50.98)

(23.93)

(15.82)

Proceeds from sale of property, plant and equipment

2.71

5.27

5.30

Dividend received

0.74

0.74

0.74

Interest received on fixed deposit and investments

68.72

39.58

47.79

Purchase of investments

(17,641.62)

(18,773.49)

(27,527.13)

Sale of investments

17,163.09

19,582.24

25,735.35

Net Cash generated from/ (Used in) Investing Activities (B)  

(457.34)

830.41

(1753.77)

C: Cash Flow from Financing Activities    

 

   

Proceeds from the issue of Shares (including securities premium)

1.81

2.46

470.10

Proceeds from issue of compulsorily convertible preference shares

2000

-

-

Share issue expensed paid

(6.00)

-

-

Proceeds from issue of debt securities

5176.12

5533.29

6049.80

Repayment of debt securities

(4566.75)

(4012)

(7215)

Proceeds from issue of borrowings (other than debt securities)

19,026.50

15,598.93

15,335.38

Repayment of borrowings (other than debt securities)

(14,556.37)

(12,747.88)

(12,309.62)

Proceeds from issue of subordinated liabilities

288.97

0.25

69.85

Repayment of lease liability

(15.01)

(13.56)

(12.82)

Dividend paid

-

(12.73)

(30.99)

Net Cash Generated from Financing Activities (C)

7349.27

4348.76

2356.70

Net decrease in cash and cash equivalents (A+B+C)

(124.48)

(232.28)

(1237.07)

Cash and cash equivalents at the beginning of the year

874.49

1106.87

2343.94

Cash and cash equivalents at the end of the year

750.01

874.49

1106.87

Summary of Hero FinCorp Limited Cash Flow Statement for the last three years:

1. Cash Flow from Operating Activities:

   - The operating profit before working capital changes increased to Rs. 2,278.90 crore in 2022-23, showing a positive trend over the years.

   - The company had negative net cash flow from operating activities in all three years, indicating higher cash outflows than inflows from its core business operations.

   - The increase in loans was significant in all three years, resulting in substantial cash outflows.

   - Other financial assets and non-financial assets also had fluctuations, impacting the operating cash flow.

2. Cash Flow from Investing Activities:

   - The company made significant investments in property, plant, equipment, and other intangible assets, leading to cash outflows in all three years. The total amount spent on these assets was Rs. 50.98 crore in 2022-23, Rs. 23.93 crore in 2021-22, and Rs. 15.82 crore in 2020-21.

   - The sale of property, plant, and equipment generated some cash inflow, with proceeds of Rs. 2.71 crore in 2022-23, Rs. 5.27 crore in 2021-22, and Rs. 5.30 crore in 2020-21.

   - Hero FinCorp made substantial investments in various financial instruments, both in purchases and sales. The net cash generated from or used in investing activities was negative, with amounts of Rs. 457.34 crore in 2022-23, Rs. 830.41 crore in 2021-22, and Rs. 1,753.77 crore in 2020-21.

3. Cash Flow from Financing Activities:

   - The company raised funds through issuing shares, convertible preference shares, and debt securities, generating cash inflows in all three years. The amounts received from these activities were Rs. 1.81 crore in 2022-23, Rs. 2.46 crore in 2021-22, and Rs. 470.10 crore in 2020-21.

   - Repayment of debt securities and other borrowings resulted in cash outflows. The amounts repaid were Rs. 4,566.75 crore in 2022-23, Rs. 4,012 crore in 2021-22, and Rs. 7,215 crore in 2020-21.

   - The company also received proceeds from subordinated liabilities, with amounts of Rs. 288.97 crore in 2022-23, Rs. 0.25 crore in 2021-22, and Rs. 69.85 crore in 2020-21.

   - Dividends were paid out to shareholders in the previous years, resulting in cash outflows. The amounts paid were Rs. 12.73 crore in 2021-22 and Rs. 30.99 crore in 2020-21.

Overall, Hero FinCorp experienced negative net cash flows in all three years, indicating a net decrease in cash and cash equivalents. The cash and cash equivalents at the end of the year reduced gradually over the years, reflecting the cash flow trends and financial activities during the period.

 

Hero FinCorp Dividend and Retained Earnings

Particulars

2023

2022

2021

2020

Dividend (In Rs.)

-

-

1.00

2.55

Performance of Hero FinCorp

  • Revenue from Operations of the company increased by 35.09% from Rs. 4,738.66 Crore in FY 2022 to Rs. 6401.60 Crore in FY 2023.

  • EBITDA has seen a rise of 86.80% in FY 2023 and reached Rs. 2889.53 Crore from Rs. 1546.85 Crore in FY 2022.
  • Total borrowings of the company increased from Rs. 22,008.69 Crore as of 31st March 2022 to Rs. 26,612.99 Crore as of 31st March 2023.
  • The Finance cost of the company decreased by 29.51% from Rs. 1678.53 Crore in FY 2022 to Rs. 2173.95 Crore in FY 2023.
  • Profit after tax stood Rs. 479.95 Crore in FY 2023 against a loss after tax of Rs. 191.90 Crore in FY 2022, showing a rise of 350%.
  • The book value of the company as of 31st March 2023 was Rs.412.20.
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