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×

Indofil Industries Annual Reports, Balance Sheet and Financials

Indofil Industries Limited (INDOFIL) Return Comparision with Primex 40 Index

Periods 1 Week 1 Month 3 Months 6 Months 1 Year 3 Years All Time
Primex-40
Indofil Industries Limited

INDOFIL INDUSTRIES Limited Balance Sheet (In Rs. Crores)

PARTICULAR

31st March 2023

31st March 2022

Assets

 

 

Non-current liabilities

 

 

Property, plant and equipment

574.15

601.61

Capital work-in-progress

32.92

11.95

Goodwill arising on consolidation

13.69

9.56

Right-of-use assets

19.05

20.86

Other intangible assets

124.25

135.96

Intangible assets under development

116.7

107.12

Financial assets

 

 

Investment in Joint venture

150.07

99.02

Other Investments

1222.96

687.75

Loans

0.19

0.15

Other financial assets

9.28

10.56

Deferred tax assets (net)

12

10.14

Income tax assets

20.47

22.97

Other non-current assets

5.47

8.07

Total non-current assets

2301.2

1725.72

Current assets

 

 

Inventories

688.9

641.32

Financial assets

 

 

Investments

90.98

112.72

Trade receivables

758.01

784.71

Cash and cash equivalents

140.51

390.82

Other bank balances

91.04

129.03

Loans

0.07

0.07

Other financial assets

2.62

6.18

Other current assets

57.91

53.56

Total current assets

1830.04

2118.41

Assets classified as held for sale

1.32

0.36

TOTAL ASSETS

4132.56

3844.49

EQUITY AND LIABILITIES

 

 

Equity

 

 

Equity share capital

21.35

21.35

Other equity

2895.8

2199.51

Equity attributable to owners of the Parent company

2917.15

2220.86

Non-controlling interests

0.38

1.99

Total equity

2917.53

2222.85

Liabilities

 

 

Non-current liabilities

 

 

Borrowings

116.28

175.76

Lease liabilities

-

0.68

Other financial liabilities

16.7

14.74

Deferred tax liabilities (net)

107.47

25.61

Provisions

15.1

17.47

Total non-current liabilities

255.55

234.26

Current liabilities

 

 

Borrowings

442.71

502.95

Trade payables

 

 

Total outstanding dues of micro enterprises and small enterprises; and

26.38

5.81

Total outstanding dues of creditors other than micro enterprises and small enterprises

412.54

812.69

Lease liabilities

0.63

1.57

Other financial liabilities

 

 

Other current liabilities

13.3

7.91

Provisions

54.65

51.73

Current tax liabilities (net)

9.27

3.31

Total current liabilities

959.48

1387.38

Total liabilities

1215.03

1621.63

TOTAL EQUITY AND LIABILITIES

4132.56

3844.49


INDOFIL INDUSTRIES Limited Profit & Loss Statement (In Rs. Crores)

PARTICULAR

31st March 2023

31st March 2022

INCOME

 

 

Revenue from operations 

3036.92

2,795.09

Other income   

48.82

75.03

Total income

3085.74

2,870.12

EXPENSES    

 

 

Cost of materials consumed

1686.64

1,666.85

Purchase of stock-in-trade

236.6

234.09

Changes in inventories of finished goods, work-in-progress and stock-in trade   

17.9

-261.92

Employee benefits expense  

202.52

219.04

Finance costs   

46.07

45.23

Depreciation and amortization expenses

86.84

89.87

Other expenses  

514.39

580.55

Total Expenses

2790.96

2,573.72

Profit before exceptional items and tax

294.78

296.41

Exceptional items   

10.32

-

Profit before tax

284.46

296.41

Tax expense

 

 

Current tax

81.62

96.36

Deferred tax (credit)/charge

10.51

-8.07

Tax in respect earlier years

5.03

1.08

Total Tax expense

97.16

89.36

Profit after tax for the year

187.3

207.04

Share of profit of joint ventures

59.79

13.33

Income tax on above items

-5.95

-1.55

Profit for the year

241.14

218.82

Other comprehensive income

 

 

A. Items that will not be reclassified to profit or loss

 

 

Re-measurement gains/ (losses) on defined benefit obligation

-4.47

-1.46

Fair Value changes of investments in equity instruments

518.29

63.5

Income tax on above items

-60.57

-11.74

Total (A)

453.25

50.3

B. Items that will be reclassified to profit or loss

 

 

The effective portion of gains on hedging instruments in a cash flow hedge

0.32

17.18

Foreign Currency Translation Reserve (FCTR)

4.44

19.08

Income Tax on above items

-0.08

-18.21

Total (B)

4.68

18.05

Total other comprehensive income/(loss) for the year

457.93

68.35

Total comprehensive income for the year

699.07

287.17

Earnings per equity share of nominal value 10 each- basic and diluted

112.94

102.49


 INDOFIL INDUSTRIES Limited Consolidated Cash Flow Statement (In Rs. Crores)

PARTICULAR

31st March 2023

31st March 2022

A Cash Flow from operating activities:

 

 

Profit before exceptional items and tax

294.78

296.41

Add / (Less):- Adjustments for non-cash / non-operating items:

 

 

Depreciation and amortisation expenses

86.84

89.87

Finance costs

46.07

45.23

Interest income

-10.07

-7.54

Dividend income

-18.33

-24.49

Bad debts written off

0.29

-

Profit on sale of current investments

-2.42

-3.39

Profit on sale of investments in a joint venture

-

-0.76

Credit balances/unclaimed liabilities/provisions written back

-7.65

-11.24

Loss / (Profit) on disposal/discard of property, plant and equipment (net)

2.32

-5.63

Loss arising from financial instruments designated as fair value through profit or loss

2.89

17.18

Provision for doubtful debts, advances and security deposits

6.61

4.17

Guarantee commission

-0.34

-0.44

Intangible asset under development written off

1.47

-

Unrealized foreign exchange (gain) / loss

7.26

-9.57

Total of Adjustments for non-cash / non-operating items:

114.94

93.39

Operating profit before changes in working capital

409.72

389.8

Adjustment for changes in working capital

 

 

Increase in inventories

-47.57

-284.92

(Increase) / decrease in trade receivables

26.18

-9.29

Increase in other financial assets

-0.08

-3.95

(Increase)/ decrease in loans

-0.03

0.02

(Increase)/ decrease in other current and non-current assets

-5.71

55.61

Increase / (decrease) in trade payables

-371.37

323.12

Increase/ (decrease) in other financial liabilities

2

-1.74

Increase/ (decrease) in other current and non-current liabilities

3.17

-15.79

Decrease in current and non-current provisions

-0.89

-0.1

Total of Adjustments for working capital

-394.3

62.94

Cash generated from operations

15.42

452.74

Less: Taxes paid (net of refund received)

-82.57

-55.52

Net cash generated from / (used in) operating activities

-67.15

397.22

B Cash flow from investing activities:

 

 

Payment for purchases of property, plant and equipment and intangible assets (including capital work in progress and intangible assets under development and capital advances, capital creditors)

-85.69

-72.73

Proceeds from sale of property, plant and equipment and

0.81

25.06

right-of-use assets

 

 

Proceeds from investment in equity of a joint venture

-

17.96

Proceeds from sale of investment in preference shares

-

2.5

Proceeds from non-current investment

1.7

6.4

Purchase of non-current investment

-17.61

-6.93

Interest received

11.7

6.89

Proceeds / (purchases) from current investments (net)

25.15

-58.23

Bank deposits not considered as cash and cash equivalents

37.99

-44

Dividend income

27.07

24.49

Net cash generated from / (used in) investing activities

1.12

-98.56

C Cash flow from financing activities:

 

 

Repayment of non-current borrowings

-90.67

-8.83

Repayment of current borrowings (net)

-41.03

-77.24

Proceeds of non-current borrowings

1.97

-

Finance costs paid

-44.31

-44.26

Payment of principal portion of the lease liabilities

-1.57

-2.28

Payment of interest portion of the lease liabilities

-0.13

-0.33

Dividend paid

-8.54

-18.02

Net cash used in financing activities

-184.28

-150.96

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

-250.31

147.7

Add: Cash and cash equivalents at the beginning of the year

390.82

243.12

Cash and cash equivalents at the end of the year

140.51

390.82

Cash and cash equivalent includes

 

 

Cash on hand

0.12

0.1

Bank balance

 

 

-In current account

140.39

278.63

-In deposit account

-

112.09

Total

140.51

390.82


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

Operating Activities: In 2023, the company experienced a significant shift in operating cash flow, with a notable decrease from 397.22 to -67.15 compared to 2022. The operating profit before changes in working capital showed a positive trend, increasing from 389.8 to 409.72. However, changes in working capital, particularly a decrease in trade payables and an increase in inventories, had a substantial impact on cash flow.

Investing Activities: The company 's investing activities showed improvement in 2023, with a shift from -98.56 to 1.12 compared to 2022. While payments for property, plant, equipment, and intangible assets increased, proceeds from the sale of assets and investments contributed positively to the overall cash flow from investing activities.

Financing Activities: Financing activities in 2023 saw an increase in net cash used, rising from -150.96 in 2022 to -184.28. Repayments of both non-current and current borrowings were major contributors to the negative cash flow. Although dividend payments decreased, the overall financing activities had a greater impact on cash position.

Overall Summary: The net increase/(decrease) in cash and cash equivalents for 2023 was -250.31, a notable drop from the positive 147.7 in 2022. The cash balance at the end of 2023 decreased to 140.51, with the majority held in the current account. These trends highlight the need for careful management of working capital components, monitoring of borrowing activities, and strategic decision-making to maintain a healthy cash position.

 

Indofil Industries Limited Financial Ratios

PARTICULAR

2023

2022

Debt service coverage ratio(In times)

2.81

2.03

Net capital turnover (in times)

3.58

4.16

Current Ratio (in times)

1.88

0.42

Debt/Equity Ratio (in times)

0.31

0.42

Return on equity ratio (%)

11.51%

11.80%

Net profit margin (%)

6.69%

6.58%

Return on capital employed (%)

10.09%

9.92%

Debtor’s turnover (In days)

108

114

Payables turnover (In days)

117

138

Inventory turnover (In days)

102

86

 

The financial ratios of Indofil Industries provide insight into the company 's financial performance and position For March 31, 2023

Debt Service Coverage Ratio (DSCR): Improved from 2.03 to 2.81, signaling enhanced ability to cover debt obligations.

 

Net Capital Turnover: Decreased from 4.16 to 3.58, suggesting a potential decline in capital efficiency.

 

Current Ratio: Significant improvement from 0.42 to 1.88, indicating better short-term liquidity.

 

Debt/Equity Ratio: Reduced from 0.42 to 0.31, signaling lower reliance on debt for financing.

 

Return on Equity (ROE): Slightly decreased from 11.80% to 11.51%, still within a reasonable range.

 

Net Profit Margin: Slight increase from 6.58% to 6.69%, showing improved profitability.

 

Return on Capital Employed (ROCE): Slight increase from 9.92% to 10.09%, indicating improved capital utilization.

 

Debtors Turnover (In Days): Slightly improved from 114 to 108 days, suggesting faster receivables collection.

 

Payables Turnover (In Days): Improved from 138 to 117 days, indicating quicker payment to suppliers.

 

Inventory Turnover (In Days): Increased from 86 to 102 days, a slight concern suggesting a need for efficient inventory management.

Dividend history of Indofil Industries Limited (In Rs. Crores)

Particulars

2023

2022

Dividend (final + interim) (In Rs.)

10

4

Retained Earnings (In Rs. Crores)

1,609.20

1400.85

Annual Report

Indofil Industries Annual Report 2022-2023

Download

Indofil Industries Annual Report 2021-22

Download

Indofil Industries Annual Report 2020-21

Download

Indofil Industries Annual Report 2019-20

Download

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