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Hutti Gold Mines Annual Reports, Balance Sheet and Financials

Hutti Gold Mines Company Limited (Hutti Gold Mines) Return Comparision with Primex 40 Index

Periods 1 Week 1 Month 3 Months 6 Months 1 Year 3 Years All Time
Primex-40
Hutti Gold Mines Company Limited

The Hutti Gold Mines Co Limited Balance Sheet (Rs. In Lakhs)

PARTICULARS 2022 2021
ASSETS    
Non-current assets    
Property, Plant and Equipment 104201.32 79458.36
Capital Work-in-Progress-Tangible 33545.05 29912.58
Other Intangible Assets 30.13 17.48
Intangible assets under development  - -
Financial Assets    
Investments 2.50 2.50
Other financial assets 2317.38 821.69
Deferred Tax Assets (Net)  523.70 652.14
Other Non-current Assets  36821.81 21229.12
Current assets    
Inventories  15845.55 27381.31
Financial Assets    
Trade Receivables 135.54 36.78
Cash and Cash Equivalents  23386.17 9913.23
Other Bank Balances  46593.90 65000.00
Other financial assets  1154.46 166.77
Current Tax Assets (Net)  614.43 2022.96
Other Current assets  7207.58 4631.73
Total Assets 272379.53 241246.65
EQUITY AND LIABILITIES    
Equity    
Equity Share Capital  296.20 296.20
Other Equity 250893.03 218777.48
Non-Current Liabilities    
Financial Liabilities:    
Provisions  5554.93 6510.05
Deferred Tax Liabilities (Net) - -
Other Non-Current Liabilities - -
Current Liabilities    
Financial Liabilities    
Trade Payables     
A) Total outstanding dues of MSME  166.43 90.35
B) Total outstanding dues of other than MSME  2031.67 2529.40
Other Financial Liabilities  4637.06 4293.78
Other Current Liabilities  8800.20 8749.39
Provisions - -
Total Equity and Liabilities  272379.53 241246.65

The Hutti Gold Mines Co Limited Profit & Loss Statement (Rs. In Lakhs)

PARTICULARS 2022 2021
INCOME    
Revenue from operations  58,907.13 55,343.25
Other income  3,694.75 4,680.05
Total Income 62,601.88 60,023.31
EXPENDITURE    
Cost of materials consumed  4,183.64 3,920.74
Changes in inventories of Finished goods, work-in-process and stock-in-trade  -154.31 -4,842.28
Employee Benefit Expenses  28,064.00 27,121.95
Finance Costs 16.21 15.35
Depreciation and Amortisation Expenses  1,998.33 1,761.35
Other expenses  13,250.94 11,189.87
Total Expenses 47,358.79 39,166.97
Profit/(Loss) before exceptional items and tax 15,243.07 20,856.33
Exceptional items  - -
Profit/(Loss) Before Tax  15,243.07 20,856.33
Tax expenses:    
Current Tax  4,000.00 5,250.00
Tax relating to earlier years - -
Deferred tax  126.77 753.28
Profit / (Loss) for the year  11,116.30 14,853.05
Other Comprehensive Income    
Items that will not be reclassified to profit or loss:    
Items that will not be reclassified subsequently to profit or loss:    
Remeasurement of net defined benefit liability/asset (net of tax)  64.82 -140.86
Total Comprehensive Income for the Year 11,181.12 14,712.19
Earnings per Share    
Basic (in `)  3,752.92 5,014.48
Diluted - -

The Hutti Gold Mines Co Limited Consolidated Cash Flow Statement (Rs. In Lakhs)

PARTICULARS 2022 2021
A. Cash flow from operating activities    
Net Profit / (Loss) before extraordinary items and tax 15,243.07 20,856.33
Adjustments for:    
Depreciation and amortisation 1,998.33 1,761.34
(Profit) / loss on sale / write off of assets    
Finance costs  16.21 15.36
Interest income  -3,250.41 -4,253.99
Dividend Income     
Gain on sale of investments     
Depreciation adjustment Reserve     
Adjustment of prior period item  117.58 2,887.49
Operating profit / (loss) before working capital changes 14,124.78 21,266.53
Changes in working capital:    
Adjustments for (increase) / decrease in operating assets:    
Inventories  11,535.76 948.86
Financial Assets    
Trade receivables  -98.76 -14.86
Current Tax Assets (Net) 1,408.53 -1,249.52
Other Current Assets  -2,575.85 3,393.81
Other financial assets  -2,483.38 -99.73
Other Non-Current Assets -15,592.70 -7,502.46
Assets held for sale  - -
  -7,806.40 -4,523.90
Adjustments for increase / (decrease) in operating liabilities:    
Financial Liabilities     
Borrowing     
Trade Payables -421.64 1,245.06
Other Financial Liabilities 335.93 199.82
Other Current Liabilities 50.81 -10,599.73
Provisions  -890.3 -641.26
Adjustment of Income-tax / Defered Tax    
Provision  1.68 -47.38
Other Current Liabilities     
  -923.5 -9,843.49
Cash generated from operations  5,394.90 6,899.14
Net income tax (paid) / refunds  -4,000.00 -5,250.00
Net cash flow from / (used in) operating activities (A) 1,394.90 1,649.14
B. Cash flow from investing activities    
Capital expenditure on property, plant & equipment, including capital advances  -5,113.69 -5,565.61
Interest received    
From Bank Deposits & Others 3,250.41 4,253.98
Dividend Income     
Term Deposits  18,406.10 -9,150.00
(Profit)/loss on sale/write off of assets     
Cash flow from extraordinary items     
Net cash flow from / (used in) investing activities (B)  16,542.81 -10,461.63
C. Cash flow from financing activities    
Finance cost  -16.21 -15.35
Dividends / Tax on dividend paid -4,448.56 -1,475.49
Net cash flow from / (used in) financing activities © -4,464.76 -1,490.84
D. Net increase / (decrease) in Cash and cash equivalents (A+B+C) 13,472.95 -10,303.33
Cash and cash equivalents at the beginning of the year  9,913.23 20,216.56
Cash and cash equivalents at the end of the year 23,386.18 9,913.23

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

 

1. Cash Flow from Operating Activities (A):

   - In 2022, the cash flow from operating activities amounted to Rs. 1,394.90 lakhs, indicating the cash generated from the company's core business operations.

   - This figure represents the net result after adjusting the net profit before tax for non-cash expenses like depreciation and amortization, finance costs, and other adjustments.

   - Notable adjustments include a decrease in interest income compared to the previous year and adjustments in working capital components like inventories, trade receivables, and other current assets.

   - In 2021, the cash flow from operating activities was slightly higher at Rs. 1,649.14 lakhs, suggesting better cash generation from operations compared to 2022 despite adjustments in working capital.

 

2. Cash Flow from Investing Activities (B):

   - In 2022, the cash flow from investing activities was positive at Rs. 16,542.81 lakhs, indicating significant cash inflows from investment-related activities.

   - This includes capital expenditures on property, plant & equipment, interest received from bank deposits, and dividend income from term deposits.

   - Compared to 2021, where there was a substantial negative cash flow of Rs. -10,461.63 lakhs, mainly due to higher capital expenditures and lower interest received.

 

3. Cash Flow from Financing Activities (C):

   - In 2022, the cash flow from financing activities resulted in a negative value of Rs. -4,464.76 lakhs, indicating cash outflows related to financing activities.

   - This includes finance costs and dividends or taxes paid on dividends.

   - In 2021, the cash flow from financing activities was also negative at Rs. -1,490.84 lakhs, but it was lower compared to 2022, suggesting less cash outflow from financing activities.

 

4. Net Increase/Decrease in Cash and Cash Equivalents (D):

   - In 2022, there was a significant net increase in cash and cash equivalents amounting to Rs. 13,472.95 lakhs, indicating a substantial increase in cash reserves by the end of the year.

   - Conversely, in 2021, there was a net decrease in cash and cash equivalents amounting to Rs. -10,303.33 lakhs, implying a reduction in cash reserves over the year.

Financial Ratios of The Hutti Gold Mines Co Limited:

Particulars 2022 2021
Current Ratio (in times)  6.07 6.97
Return on Equity Ratio (in %)  7.09 10.22
Inventory turnover Ratio (in times)  2.73 1.99
Trade Payables turnover ratio (in times)  17.81 17.69
Net Capital turnover ratio (in times) 0.74 0.59
Net Profit ratio (in %) 18.87 26.84
Return on Capital employed (in %) 9.72 14.35

Here's a detailed explanation of the financial ratios for the years 2022 and 2021:

1. Current Ratio:

   - In 2022, the current ratio is 6.07, while in 2021, it was 6.97.

   - This ratio measures the company's ability to meet its short-term obligations with its short-term assets. A higher ratio indicates better liquidity. The decrease from 2021 to 2022 might suggest a slight weakening in short-term liquidity, although the ratio remains high, indicating a strong position.

2. Return on Equity (ROE) Ratio:

   - In 2022, the ROE ratio is 7.09%, whereas in 2021, it was 10.22%.

   - ROE measures how efficiently the company is using shareholders' equity to generate profits. A higher ratio indicates better profitability. The decrease from 2021 to 2022 might suggest a less efficient utilization of equity in generating profits.

3. Inventory Turnover Ratio:

   - In 2022, the inventory turnover ratio is 2.73 times, while in 2021, it was 1.99 times.

   - This ratio indicates how many times the company's inventory is sold and replaced over a period. An increase from 2021 to 2022 suggests a more efficient management of inventory.

4. Trade Payables Turnover Ratio:

   - In 2022, the trade payables turnover ratio is 17.81 times, whereas in 2021, it was 17.69 times.

   - This ratio measures how efficiently the company pays its suppliers. The slight increase indicates a slightly faster turnover of trade payables in 2022 compared to 2021.

5. Net Capital Turnover Ratio:

   - In 2022, the net capital turnover ratio is 0.74 times, whereas in 2021, it was 0.59 times.

   - This ratio measures how efficiently the company utilizes its total capital to generate sales. An increase indicates improved efficiency in capital utilization.

6. Net Profit Ratio:

   - In 2022, the net profit ratio is 18.87%, while in 2021, it was 26.84%.

   - This ratio indicates the percentage of net profit earned concerning total revenue. The decrease from 2021 to 2022 suggests a lower profit margin in 2022.

7. Return on Capital Employed (ROCE):

   - In 2022, the ROCE is 9.72%, whereas in 2021, it was 14.35%.

   - ROCE measures the efficiency of capital employed in generating profits. The decrease indicates a less efficient utilization of capital in generating profits in 2022 compared to 2021.

Dividend History of The Hutti Gold Mines Co Limited:

Particulars

2022

 

2021

Dividend (final + interim) (In Rs.)

1,125.88

1,504.34

 

 

 

Annual Report

Hutti Gold Mines Company Annual Report 2021-22

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Hutti Gold Mines Company Annual Report 2020-21

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