Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
---|---|---|---|---|---|---|---|
Primex-40 | |||||||
Imagine Marketing Limited |
PARTICULARS |
2023 |
2022 |
2021 |
ASSETS |
|
|
|
NON-CURRENT ASSETS |
|
|
|
Property, plant and equipment |
216.26 |
28.25 |
17.47 |
Right-of-use assets |
186.62 |
134.61 |
97.28 |
Goodwill |
1,783.84 |
1,783.84 |
- |
Other Intangible assets |
1,339.26 |
1,120.44 |
48.92 |
Intangible assets under development |
82.51 |
144.99 |
- |
Investments accounted for using the equity method |
295.29 |
293.01 |
- |
Financial assets |
|
|
|
Other Investments |
8.14 |
26.98 |
24.48 |
Other financial assets |
266.31 |
42.71 |
17.41 |
Non-current tax assets (net) |
179.7 |
87.83 |
0.04 |
Deferred tax assets (net) |
382.47 |
33.54 |
26.1 |
Other non-current assets |
2.69 |
2.62 |
- |
TOTAL NON-CURRENT ASSETS |
4,743.09 |
3,698.82 |
231.70 |
|
|
|
|
CURRENT ASSETS |
|
|
|
Inventories |
4,701.75 |
5,538.55 |
3,088.23 |
Financial assets |
|
|
|
Trade receivables |
2,758.06 |
3,231.15 |
754.83 |
Cash and cash equivalents |
1,474.03 |
603.77 |
1443.93 |
Bank balance other than cash and cash equivalents |
1,930.40 |
1,575.84 |
45.00 |
Loans |
0.45 |
7.21 |
0.59 |
Other financial assets |
116.77 |
2,531.56 |
6.05 |
Other current assets |
5,799.58 |
2,671.95 |
1,213.94 |
TOTAL CURRENT ASSETS |
16,781.01 |
16,160.03 |
6,552.57 |
|
|
|
|
TOTAL ASSETS |
21,524.10 |
19,858.85 |
6,784.27 |
|
|
|
|
EQUITY AND LIABILITIES |
|
|
|
EQUITY |
|
|
|
Equity share capital |
96.1 |
96.04 |
0.45 |
Instruments entirely equity in nature |
108.71 |
108.71 |
93.09 |
Other equity |
4,486.83 |
5,814.64 |
4,548.14 |
TOTAL EQUITY |
4,691.64 |
6,019.39 |
4,641.68 |
|
|
|
|
LIABILITIES |
|
|
|
NON-CURRENT LIABILITIES |
|
|
|
Financial Liabilities |
|
|
|
Borrowings |
5,031.23 |
- |
- |
Lease liabilities |
118.17 |
94.94 |
77.05 |
Other financial liabilities |
233.79 |
452.46 |
- |
Provisions |
21.03 |
14.7 |
2.02 |
Deferred tax liabilities (net) |
166.89 |
166.89 |
- |
TOTAL NON-CURRENT LIABILITIES |
5,571.10 |
728.99 |
79.07 |
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Financial Liabilities |
|
|
|
Borrowings |
7,329.86 |
9,211.32 |
415.33 |
Lease liabilities |
70.32 |
45.19 |
24.57 |
Trade payables |
|
|
|
Total outstanding dues of micro enterprise and small enterprises |
29.35 |
24.43 |
30.57 |
Total outstanding dues of creditors other than micro enterprises and small enterprises |
2,566.18 |
2,163.01 |
1,175.27 |
Other financial liabilities |
455.46 |
568.7 |
30.74 |
Other current liabilities |
151.27 |
45.45 |
83.05 |
Provisions |
658.92 |
1,052.36 |
208.54 |
Current tax liabilities (net) |
- |
- |
95.45 |
TOTAL CURRENT LIABILITIES |
11,261.36 |
13,110.47 |
2,063.52 |
|
|
|
|
TOTAL LIABILITIES |
16,832.46 |
13,839.45 |
2,142.59 |
|
|
|
|
TOTAL EQUITY AND LIABILITIES |
21,524.10 |
19,858.85 |
6,784.27 |
PARTICULARS |
2023 |
2022 |
2021 |
INCOME |
|
|
|
Revenue from operations |
33,767.90 |
28,729.01 |
13,138.03 |
Other income |
263.94 |
135.37 |
65.72 |
TOTAL INCOME |
34,031.84 |
28,864.38 |
13,203.75 |
|
|
|
|
EXPENSES |
|
|
|
Purchases of stock-in-trade |
25,268.96 |
25,915.80 |
12,547.02 |
Changes in inventories of stock-in-trade |
836.8 |
-2,450.32 |
-2,338.65 |
Employee benefits expense |
994.17 |
561.22 |
149.2 |
Finance costs |
783.58 |
345.95 |
118.78 |
Depreciation and amortisation expense |
255.95 |
90.74 |
31.98 |
Other expenses |
7,481.28 |
3,406.48 |
1,513.23 |
TOTAL EXPENSES |
35,620.74 |
27,869.88 |
12,021.56 |
|
|
|
|
(Loss)/Profit before share of losses of equity accounted investee and tax |
-1,588.90 |
994.5 |
1182.19 |
Share of loss of equity accounted investee (net of tax) |
-48.22 |
-7 |
- |
(Loss)/Profit before tax |
-1,637.12 |
987.5 |
1182.19 |
Tax expense |
|
|
|
Current tax |
6.17 |
305.84 |
327.33 |
Tax related to Earlier Years |
0.23 |
- |
- |
Deferred tax |
-348.98 |
-5.37 |
-10.51 |
Total tax expense |
-342.58 |
300.47 |
316.82 |
(LOSS)/PROFIT FOR THE YEAR (A) |
-1,294.54 |
687.04 |
865.37 |
|
|
|
|
OTHER COMPREHENSIVE INCOME/(LOSS) |
|
|
|
Items that will not be reclassified subsequently to profit or loss |
|
|
|
Re-measurements of the net defined benefit plans |
-4.15 |
- |
-0.01 |
Income tax relating to these items |
1.22 |
- |
0 |
Items that will be reclassified subsequently to profit or loss |
|
|
|
Exchange differences in translating financial statements of foreign operations |
-20.39 |
- |
- |
|
|
|
|
OTHER COMPREHENSIVE LOSS/INCOME FOR THE YEAR, NET OF TAX (B) |
72.95 |
-23.32 |
-0.01 |
|
|
|
|
TOTAL COMPREHENSIVE (LOSS)/INCOME FOR THE YEAR (A+B) |
-1,221.59 |
663.72 |
865.36 |
|
|
|
|
(Loss)/Profit for the year attributable to: |
|
|
|
Owners of the Company |
-1,294.54 |
687.04 |
865.37 |
Non-controlling interests |
- |
- |
- |
(Loss)/Profit for the year |
-1,294.54 |
687.04 |
865.37 |
|
|
|
|
Other comprehensive income/loss for the year attributable to: |
|
|
|
Owners of the Company |
72.95 |
-23.32 |
-0.01 |
Non-controlling interests |
- |
- |
- |
Other comprehensive income/loss for the year, net of tax |
72.95 |
-23.32 |
-0.01 |
|
|
|
|
Total comprehensive income/(loss) for the year attributable to: |
|
|
|
Owners of the Company |
-1,221.59 |
663.72 |
865.36 |
Non-controlling interests |
- |
- |
- |
Total comprehensive income/(loss) for the year |
-1,221.59 |
663.72 |
865.36 |
|
|
|
|
Earnings/(Loss) per equity share (face value of Re. 1 each) |
|
|
|
Basic (Rs.) |
-13.4 |
5.1 |
8.53 |
Diluted (Rs.) |
-13.4 |
5.09 |
7.97 |
PARTICULARS |
2023 |
2022 |
2021 |
CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
(Loss)/Profit before tax |
-1,637.12 |
987.5 |
1182.19 |
Adjustments for: |
|
|
|
Share of net loss of equity accounted investees |
48.22 |
7 |
- |
Depreciation and amortisation expense |
255.95 |
90.74 |
31.98 |
Share based payment expense |
36.22 |
155.72 |
11.82 |
Interest on fixed deposits |
-172.96 |
-96.63 |
-21.38 |
Interest income others |
-1.09 |
-0.79 |
- |
Interest on income tax refund |
- |
- |
-0.64 |
Fair valuation (gain) from investments designated at FVTPL |
-0.82 |
-2.51 |
-1.17 |
Liabilities no longer required, written back |
- |
-0.45 |
-0.03 |
Provisions no longer required, written back |
-0.24 |
-6.41 |
-14.33 |
Gain on de-recognition of liability component of CCPS |
- |
|
-20.43 |
Gain on waiver of lease liabilities |
- |
- |
-3.35 |
Gain on de-recognition of leases |
- |
-4.83 |
- |
Fair value loss on account of changes in financial liabilities |
31.23 |
- |
- |
Finance cost |
783.58 |
345.95 |
118.78 |
Provision for impairment of non-current investment |
- |
|
43.33 |
Provision for loss allowance for trade receivables |
252.78 |
7.14 |
- |
Provision for doubtful advances |
- |
38.16 |
28.63 |
Provision for doubtful interest receivable on trade advance |
|
|
1.77 |
Provision for slow and non-moving inventory |
330.8 |
86.61 |
168.3 |
Provision for warranty |
- |
484.88 |
181.94 |
Provision for expected return liability |
- |
550 |
20.95 |
Loss on Sale/Disposal of tangible and intangible assets |
5.16 |
- |
- |
Unrealised foreign exchange loss |
13.3 |
8 |
-11.78 |
Operating (Loss)/profit before working capital changes |
-54.99 |
2,650.08 |
1,716.58 |
Adjustments for : |
|
|
|
Decrease/(Increase) in inventories |
506 |
-2,509.66 |
-2,506.95 |
Decrease/(Increase) in trade receivables |
220.32 |
-2,423.31 |
-187.75 |
Decrease/(Increase) in loans |
6.76 |
-6.62 |
0.34 |
Decrease/(Increase) in other financial assets |
2,201.26 |
-26.58 |
-5.14 |
(Increase) in other current and non-current assets |
-3,127.70 |
-1,337.22 |
-880.83 |
Increase in trade payables |
394.79 |
683.31 |
873.06 |
(Decrease) in other financial liabilities |
-409.1 |
-7.89 |
16.31 |
Increase/(Decrease) in other current liabilities |
105.82 |
-40.46 |
56.17 |
(Decrease) in current and non-current provisions |
-386.72 |
-179.6 |
-169.97 |
Cash (used in) operations |
-543.56 |
-3,197.96 |
-1,088.18 |
Taxes paid (net of refunds) |
-98.23 |
-489.08 |
-332.83 |
Net Cash flows (used in) operating activities (A) |
-641.79 |
-3,687.04 |
-1,421.01 |
|
|
|
|
CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
Acquisition of subsidiary pursuant to business combination |
- |
-1,924.69 |
- |
Investment made in equity shares of an associate company and joint venture |
-50.5 |
-300.01 |
- |
Redemption of Mutual Funds |
19.66 |
- |
- |
Purchase of property, plant and equipment |
-233 |
-27.29 |
-16.4 |
Purchase of intangible assets |
-359.49 |
-114.63 |
-35.5 |
Intangible assets under development |
62.47 |
- |
- |
Movement in fixed deposit (net) |
-354.56 |
-3,967.03 |
-32.50 |
Interest on fixed deposits |
164.58 |
10.73 |
17.84 |
Net cash flow (used in) investing activities (B) |
-750.84 |
-6,322.91 |
-66.56 |
|
|
|
|
CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
Proceeds from issue of preference shares, including securities premium |
- |
499.96 |
4400.09 |
Proceeds from issue of equity shares, including securities premium |
3.28 |
29.6 |
- |
Expenses incurred for issuance of preference share capital |
- |
-12.07 |
-91.52 |
Payment towards buy back of equity shares |
- |
- |
-1135.5 |
Payment towards distribution tax on buy back of equity shares |
- |
- |
-264.52 |
Proceeds from issue of debentures |
- |
- |
- |
Repayment towards debentures |
- |
- |
-112.5 |
Proceeds from term loan |
- |
- |
100 |
Proceeds from issue of preference shares classified as financial liability |
5,000.00 |
- |
- |
Repayment towards term loan |
- |
-58.82 |
-60 |
(Repayment)/Proceeds from short-term borrowings |
-1,881.46 |
8,854.81 |
145.72 |
Repayment of lease liabilities |
-66.9 |
-50.9 |
-19.26 |
Interest and other borrowing costs paid |
-719.21 |
-318.96 |
-92.96 |
Net cash flow generated from financing activities (C) |
2,335.71 |
8,943.62 |
2,869.55 |
|
|
|
|
Effect of exchange differences on translation of foreign currency |
-72.83 |
16.74 |
- |
Net increase/(decrease) in cash and cash equivalents (A+B+C) |
870.25 |
-1,049.59 |
1,381.98 |
Cash and cash equivalents at the beginning of the year |
603.77 |
1,443.93 |
61.95 |
Add : Cash acquired on Business Combination |
- |
209.44 |
- |
Cash and cash equivalents at the end of the year |
1,474.03 |
603.77 |
1443.93 |
|
|
|
|
Components of cash and cash equivalents: |
|
|
|
Cash on hand |
0.8 |
0.72 |
0.07 |
Balance with banks |
|
|
|
In current accounts |
317.22 |
603.05 |
42 |
In deposits with original maturity of less than 3 months |
1,156.01 |
- |
1401.86 |
Total cash and cash equivalents |
1,474.03 |
603.77 |
1443.93 |
Cash Flows from Operating Activities:
Operating Profit (Loss) Before Tax:
In 2023, the company reported an operating loss of Rs.1,637.12 million, compared to profits in 2022 (Rs.987.5 million) and 2021 (Rs.1,182.19 million).
Adjustments for Various Items:
Significant adjustments include share of net loss, depreciation, share-based payment expenses, interest on fixed deposits, and various provisions, impacting the overall operating performance.
Operating (Loss)/Profit Before Working Capital Changes:
The operating result before changes in working capital was a loss of Rs.54.99 million in 2023, significantly lower than the profits in the previous years.
Adjustments for Changes in Working Capital:
Changes in inventories, trade receivables, loans, and other financial assets affected the working capital, leading to changes in cash flows.
Cash (Used In) Operations:
The net cash used in operating activities was Rs.543.56 million in 2023, reflecting operational challenges.
Cash Flows from Investing Activities:
Investing Activities:
The company engaged in various investment activities, including acquisitions, investments in equity shares, and purchases of property, plant, and equipment.
Net Cash Flow (Used In) Investing Activities (B):
The net cash used in investing activities was Rs.750.84 million in 2023, primarily due to significant outflows related to acquisitions and investments.
Cash Flows from Financing Activities:
Financing Activities:
Financing activities involved proceeds from the issuance of preference shares and equity shares, buyback of equity shares, and various repayments related to borrowings and lease liabilities.
Net Cash Flow Generated from Financing Activities (C):
The net cash generated from financing activities was Rs.2,335.71 million in 2023, indicating positive financing activities during the year.
Other Information:
Effect of Exchange Differences on Translation of Foreign Currency:
Exchange rate fluctuations had a negative impact, resulting in a loss of Rs.72.83 million in 2023.
Net Increase/(Decrease) in Cash and Cash Equivalents (A+B+C):
The overall net increase in cash and cash equivalents was Rs.870.25 million in 2023, compared to decreases in the previous years.
Cash and Cash Equivalents at the End of the Year:
The closing balance of cash and cash equivalents was Rs.1,474.03 million in 2023, representing a notable increase from the previous year.
Components of Cash and Cash Equivalents:
Cash on Hand:
The company held a small amount of cash on hand.
Balance with Banks:
Most of the cash and cash equivalents were held in current accounts and deposits with an original maturity of less than 3 months.
Particulars |
2023 |
EBITDA |
-156.55 % |
Net-worth |
-15.93 % |
Debt/Equity Ratio |
2.41 |
Return on Equity |
-0.197 |
Total Assets |
12.23 % |
Fixed Assets |
178.80 % |
Current Assets |
4.01 % |
Current Liabilities |
-14.30 % |
Trade Receivables |
-16.52 % |
Trade Payables |
16.87 % |
Current Ratio |
1.54 |
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization):
EBITDA is reported at -156.55%, which is unusual. EBITDA is generally expressed as a percentage of revenue. A negative EBITDA may indicate that the company 's operating expenses and debt obligations are high compared to its earnings.
Net-worth:
Net worth is at -15.93%, suggesting that the company 's liabilities exceed its assets. This could indicate financial instability.
Debt/Equity Ratio:
The debt/equity ratio is 2.41, indicating that the company has higher debt relative to its equity. A ratio above 1 suggests that the company relies more on debt financing than equity, which could pose risks, especially if the business faces financial challenges.
Return on Equity (ROE):
The return on equity is -0.197 (or -19.7%). A negative ROE suggests that the company did not generate positive returns for its shareholders during the period.
Total Assets:
Total assets have increased by 12.23%, which could be a positive sign. However, the increase should be assessed in the context of the company 's overall financial health.
Fixed Assets:
Fixed assets have increased significantly by 178.80%, which might indicate increased investments in long-term assets. The reason behind this increase would need further investigation.
Current Assets:
Current assets have increased by 4.01%, which may improve the company 's short-term liquidity position.
Current Liabilities:
Current liabilities have decreased by -14.30%, potentially improving the company 's short-term obligations.
Trade Receivables:
Trade receivables have decreased by -16.52%, indicating a potential improvement in the management of accounts receivable.
Trade Payables:
Trade payables have increased by 16.87%, which might indicate that the company is taking longer to pay its suppliers.
Current Ratio:
The current ratio is 1.54, suggesting that the company has more current assets than current liabilities. This could indicate good short-term liquidity, but a ratio significantly above 1 may also suggest inefficient use of resources.
Particulars |
2023 |
2022 |
2021 |
Dividend (final + interim) (In Rs.) |
- |
- |
- |