ICEX Annual Report | Indian Commodity Exchange Balance Sheet

Indian Commodity Exchange Limited (ICEX) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Indian Commodity Exchange Limited

Indian Commodity Exchange Limited Balance Sheet (Rs in thousands)

Particulars	31-03-2023	31-03-2022
Assets
Non-Current Assets
Property, Plant and Equipment	21,940.66	45,543.21
Intangible Assets	-	5,07,205.73
Non-Current Investments	1,00,000.00	-
Other Non-Current Assets	2,716.06	5,12,754.40
Total Non-Current Assets	1,24,656.72	10,65,503.34
Current Assets
Investments	1,17,280.59	1,43,180.78
Trade Receivables	-	10,721.91
Cash and Cash Equivalents	1,034.35	7,573.40
Loans & Advances	3,85,000.00	-
Other Financial Assets	10,190.99	1,157.80
Other Current Assets	2,09,923.31	2,19,113.91
Total Current Assets	7,23,429.24	3,81,747.80
Total Assets	8,48,085.96	14,47,251.14
Equity and Liabilities
Equity
Equity Share Capital	26,67,537.38	26,67,537.38
Other Equity	-24,33,384.81	-18,44,047.27
Total Equity	2,34,152.57	8,23,490.11
Settlement Guarantee Fund	3,85,883.78	3,80,351.77
Liabilities
Non-Current Liabilities
Lease Liabilities	-	2,607.76
Other Financial Liabilities	-	52,275.00
Provisions	678.02	2,468.17
Total Non-Current Liabilities	678.02	57,350.93
Current Liabilities
Financial Liabilities
Lease Liabilities	3,285.35	5,833.53
Total Outstanding Dues of Creditors Other than Micro Enterprises and Small Enterprises	1,28,660.86	1,36,428.90
Other Financial Liabilities	69,060.57	22,071.53
Other Current Liabilities	25,829.73	21,724.37
Other Current Provisions	535.08	-
Total Current Liabilities	2,27,371.59	1,86,058.33
Total Liabilities	2,28,049.61	2,43,409.26
Total Equity and Liabilities	8,48,085.96	14,47,251.14

Indian Commodity Exchange Limited Profit & Loss Statement (Rs in thousands)

Particulars	31-03-2023	31-03-2022
Revenue
Revenue from operations	2,462.11	12,260.05
Other income	15,829.42	8,593.91
Total income	18,291.53,	853.96
Expenses
Employee benefits expense	28,411.58	53,534.45
Operating cost	17,869.00	1,08,138.18
Finance Cost	677.58	1,027.70
Depreciation and amortization expense	1,00,433.79	37,742.29
Impairment	4,30,399.08	-
Other expenses	23,225.25	37,780.95
Total expenses	601.016.28	2,38,223.57
Profit(loss) before tax	(582,724.75)	(217,369.61)
Income tax for earlier years	3,327.16
Profit(loss) for the year	(586,051.91)	(217,369.61)
Remeasurement of Employee benefits obligations	3,285.63	(1,201.92)
‘Total comprehensive income for the year	(589,337.54)	(216.167.69)
Earnings per equity share
(Face Value of Rs. 5 each fully paid up)
Basic	(1.10)	-0.41
Diluted	(1.10)	-0.41

Indian Commodity Exchange Limited Consolidated Cash Flow Statement (Rs in thousands)

Particulars	31-03-2023	31-03-2022
Cash Flows from Operating Activities
Net Profit/(Loss) Before Tax	-5,82,724.75	-2,17,369.61
Adjustments for:
Depreciation, Amortization, and Impairment Expense	5,30,832.87	37,742.29
Finance Cost - Lease under Ind AS 116	677.58	1,027.70
Interest Income	-9,035.67	-83.1
Provision for Doubtful Debts & Bad Debt	13.27	16,062.65
(Gain)/Loss on Foreign Exchange	6,058.86	82
Excess Provisions Written Back	-2,540.00	-
(Gain)/Loss on Redemption/Fair Valuation of Units of Mutual Funds	-3,058.25	-8,190.59
Operating Profit/(Loss) Before Working Capital Changes	-59,776.09	-1,70,728.66
Adjustments for:
Trade Receivables and Other Current Assets	22,439.24	-10,786.31
Other Current Financial Assets	-13,668.32	0
Other Non-Current Assets	5,10,038.34	-24,395.68
Other Non-Current Liabilities	-1,790.15	-6,323.42
Trade Payables and Other Current Liabilities	-15,214.27	43,869.23
Other Current Provisions	-2,750.55	-
Adjustment for Increase in Settlement Guarantee Fund	5,532.02	24,939.33
Cash Generated from/(Used in) Operations	4,44,810.23	-1,43,425.51
Net Income Tax Paid (Net of Refunds)	-2,351.06	-1,126.93
Net Cash Generated from/(Used in) Operating Activities	4,42,459.17	-1,44,552.44
Cash Flows from Investing Activities
Purchase of Property, Plant, Equipment and Intangible Assets	-30	-44.99
Proceeds from Sale of Property, Plant, and Equipment	5.41	-
Interest Received	12,901.47	98.45
Investment in Non-Corporate Debenture	-1,00,000.00	-
Proceeds of Current Investments (Net)	28,958.43	1,51,809.33
Loans and Advances Given	-3,85,000.00	-
Net Cash Generated from/(Used in) Investing Activities	-4,43,164.69	1,51,862.79
Cash Flows from Financing Activities
Lease Rent Payments	-5,833.53	-6,280.08
Net Cash Generated from/(Used in) Financing Activities	-5,833.53	-6,280.08
Net Increase/(Decrease) in Cash and Cash Equivalents	-6,539.05	1,030.27
Cash and Cash Equivalents at the Beginning of the Year	7,573.40	6,543.13
Cash and Cash Equivalents at the Close of the Year	1,034.35	7,573.40
Note: Cash and Cash Equivalents as at the Close of the Year Comprise
Cash on Hand	5.01	4.8
Balances with Scheduled Banks
In Current Accounts	1,029.34	7,568.60
Cash and Cash Equivalents	1,034.35	7,573.40

Here is a summary of the Cash Flow Statement for the years 2023 and 2022:

Cash Flows from Operating Activities

Analysis:

Net Profit/Loss: The loss before tax increased in 2023 compared to 2022, indicating worsening operational efficiency.

Adjustments: Significant adjustments include a large increase in depreciation, which has improved from the previous year.

Working Capital Changes: Positive changes in current assets and liabilities contributed to a substantial positive cash flow from operations in 2023 compared to a negative cash flow in 2022.

Net Cash from Operating Activities: In 2023, there was a significant positive cash flow, recovering from the negative cash flow in 2022. This indicates a strong operational improvement.

Cash Flows from Investing Activities

Analysis:

Investments and Receipts: There was a substantial investment in non-corporate debentures and a large loan given, which led to significant negative cash flow from investing activities in 2023.

Proceeds from Investments: Proceeds from current investments decreased from the previous year.

Overall Cash Flow: The cash flow from investing activities was negative in 2023 compared to a positive cash flow in 2022, reflecting increased outflows for investments and loans.

Cash Flows from Financing Activities

Analysis:

Lease Payments: There was a slight decrease in lease rent payments in 2023.

Overall Cash Flow: The cash flow from financing activities remained relatively stable but negative in both years, indicating ongoing outflows for lease payments.

Net Increase(Decrease) in Cash and Cash Equivalents

Analysis:

Change in Cash: There was a decrease in cash and cash equivalents at the end of 2023 compared to 2022. This decline is due to the negative cash flow from investing activities, despite a positive cash flow from operating activities.

Cash Position: The ending cash balance decreased significantly, showing that the company used up its cash reserves for investments and loans.

Financial Ratios of Skyline India Limited

Ratios	31-03-2023	31-03-2022
Trade Payables Turnover Ratio	0.18	0.31
Net Capital Turnover Ratio	0.71	4.26
Net Profit Ratio (%)	-32.04	-10.42
Return on Capital Employed (%)	-175.33	-30.57
Return on Investment (%)	0.12	0.04
Current Ratio	3.18	2.05
Return on Equity Ratio (%)	-110.83	-23.33
Trade Receivables Turnover Ratio	0.46	0.88

Trade Payables Turnover Ratio

2023: 0.18

2022: 0.31

Analysis: The ratio decreased from 0.31 to 0.18, indicating that the company took longer to pay its trade payables in 2023 compared to 2022. This suggests a potential extension of payment terms with suppliers or a delay in settling obligations.

Net Capital Turnover Ratio

2023: 0.71

2022: 4.26

Analysis: The ratio dropped significantly from 4.26 to 0.71, reflecting a substantial decline in efficiency in utilizing capital to generate revenue. This suggests that the company’s sales generation per unit of capital employed has decreased markedly.

Net Profit Ratio (%)

2023: -32.04%

2022: -10.42%

Analysis: The negative net profit ratio worsened from -10.42% to -32.04%, indicating that the company experienced a higher loss relative to sales in 2023. This shows declining profitability and increased operational inefficiencies.

Return on Capital Employed (ROCE) (%)

2023: -175.33%

2022: -30.57%

Analysis: ROCE fell drastically from -30.57% to -175.33%, showing severe inefficiencies and very high negative returns on the capital employed. This indicates major issues in utilizing capital effectively to generate returns.

Return on Investment (ROI) (%)

2023: 0.12%

2022: 0.04%

Analysis: ROI improved slightly from 0.04% to 0.12%, but the returns are still very low. This minimal improvement indicates that the company’s investments are yielding very modest returns.

Current Ratio

2023: 3.18

2022: 2.05

Analysis: The current ratio increased from 2.05 to 3.18, indicating an improvement in the company's ability to meet short-term liabilities. A higher ratio reflects better short-term liquidity and financial health.

Return on Equity Ratio (%)

2023: -110.83%

2022: -23.33%

Analysis: The ratio worsened from -23.33% to -110.83%, indicating a significant increase in losses relative to shareholders’ equity. This reflects very poor performance and substantial losses for shareholders.

Trade Receivables Turnover Ratio

2023: 0.46

2022: 0.88

Analysis: The ratio decreased from 0.88 to 0.46, suggesting that the company is taking longer to collect receivables from customers. This could lead to cash flow issues and indicates less efficient credit management.

Dividend history

Particulars	31-03-2023	31-03-2022
Dividend paid	-	-
Retained earnings	-31,08,958.57	-25,22,906.66
Total	-31,08,958.57	-25,22,906.66

ICEX Annual Report | Balance Sheet | Financials

Indian Commodity Exchange Limited (ICEX) Return Comparision with Primex 40 Index

Indian Commodity Exchange Limited Balance Sheet (Rs in thousands)

Indian Commodity Exchange Limited Profit & Loss Statement (Rs in thousands)

Indian Commodity Exchange Limited Consolidated Cash Flow Statement (Rs in thousands)

Financial Ratios of Skyline India Limited

Dividend history

Annual Report

Indian Commodity Exchange Annual Report 2022-23

Indian Commodity Exchange Annual Report 2021-22

Indian Commodity Exchange Annual Report 2019-20

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