Indosolar Limited Annual Report | Revenue

Indosolar Limited (Indo Solar) Return Comparision with Primex 40 Index

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Indosolar Limited

Indosolar Limited Balance Sheet (Rs In Lakhs)

Particulars	2019	2018
ASSETS
1. Non- Current Assets
a) Property, plant and equipment	15,430.98	42,636.89
b) Capital work in progress	8,298.65	25,747.97
c) Other intangible assets	12.79	17.26
d) Financial assets
(i) Loans	157.69	403.9
(ii) Other financial assets	91.47	87.27
e) Other non-current assets	36.04	1051.02
Total Non- Current Assets	23,936.15	69,944.31
2. Current Assets
a) Inventories	537.34	2665.61
b) Financial Assets
(i)Trade Receivables	14.53	291.3
(ii) Cash and Cash equivalents	67.07	292.46
(iii) Bank balances (other than cash & cash equivalents)	405.11	352.4
(iv) Loans	-	4.77
(v) Other financial assets	55.84	-
c) Other current assets	894.44	821.02
Total Current Assets	1949.28	4,427.56
Total Assets	25,885.43	74,371.87

EQUITY AND LIABILTIES
1. Equity
a) Equity Share Capital	37206.71	37206.71
b) Other Equity	-1,35,355.20	-82,859.67
Total Equity	98,148.49	45,652.96
2. Liabilities
a) Non- current liabilities
(i) Financial liabilities
Borrowings	584.32	30443.02
b) Provisions	48.79	48.79
Total Non-Current Liabilities	633.11	30,491.81
3. Current Liabilities
a) Financial liabilities
(i) Borrowings	3557.02	3546.2
(ii) Trade Payables	8570.75	6237.06
(iii) Other Financial Liabilities	110561.1	79524.2
b) Other current liabilities	693.7	206.68
c) Provisions	18.25	18.87
Total Current Liabilities	123400.81	89533.02
Total Liabilities	124033.92	120024.83
Total Equity and Liabilities	25,885.43	74,371.87

Indosolar Limited Profit & Loss Statement (Rs In Lakhs)

Particulars	2019	2018
Revenue From Operations	1322.35	31412.37
Other income	250.49	431.15
Total Income	1612.85	31843.52
Expenses
Cost of materials consumed	1142.02	21577.99
Purchase of stock in trade	92.98	4401.94
Change in inventories of finished goods, stock in trade and work	515.39	1910.30
Employees benefit expense	455.99	1457.67
Finance cost	5093.04	5351.94
Depreciation and amortization expense	2413.69	2810.58
Other expenses	1581.92	4203.34
Total expenses	11295.03	41713.76
Profit/ (Loss) before tax	-9682.18	-9870.24
Profit/(Loss) before exceptional items and tax	-9682.18	-9870.24
Exceptional items	42819.12	-6410.96
Profit/(Loss) before tax	-52501.30	16281.20
Tax expense
Current Tax	-	2.32
Profit/(loss) after tax (net)	-52501.30	16283.52
Other Comprehensive lncome/(loss)
(i) ltems that will not be reclassified to profit or loss
Re-measurements of net defined benefit plans	5.77	11.55
Other Comprehensive lncome/(loss)	5.77	11.55
Total Comprehensive lncome /(loss)	-52495.53	-16271.97
Earning per Equity share
Basic	14.11	4.44
Diluted	14.11	4.44

Indosolar Limited Consolidated Cash Flow Statement (Rs In Lakhs)

Particulars	2019	2018
Cash flows from operating activities
Loss before taxation	-52501.30	-16281.20
Adjustments for:
Depreciation and amortization expenses	2413.69	2810.58
Interest expenses	5093.04	5221.13
Interest income	52.39	-179.26
Provision for doubtful debts written back	-	-13.47
Provision for doubtful debts	795.61	-
Provision for service tax not recoverable written back	-	112.80
Service tax not recoverable written off	21.60	-
Exceptional items	-
Waiver of interest on loans	-	-15211.12
Impairment losses of property, plant and equipment	42819.12	30700.00
Gain on modification of loan due to fair valuation of 1% OCCRPS	-	-9077.92
Bad debts written off	60.18	13.21
Detention charges	-	-
Unrealized Foreign Exchange Rate Difference (Gain)/ Loss (Net)	3.66	64.07
(Gain)/ Loss on sale of property, plant and equipment	10.39	-
Provisions/ Liabilities no longer required written back	-248.49	-
Amortised ancilliary cost of arranging the borrowings	-	-
Operating profit before working capital changes	-1580.89	-2033.94
Adjustments for:
(Increase)/ Decrease in Trade Receivables	-586.68	830.12
(lncrease)/decrease in lnventories	2128.27	998.07
(lncrease)/decrease in Other financial assets and Other assets	180.94	869.19
lncrease/(decrease) in Trade pavables	2333.69	3432.99
lncrease/(decrease) in Other liabilities and provisions	769.36	-1167.65
Cash used from operations	3244.69	22928.78
Direct taxes (paid)/refund received	-	-6.10
Net cash generated from operating activities	3244.69	2922.67
Cash flows from investing activities
Capital expenditure on Property, plant and Equipment, including capital work in lmpairment Losses of CWIP	-2337.86	1204.75
Proceeds from sale of property, plant and Equipment	23.33	-
Movement in Fixed Deposits with banks	-2.71	242.00
Interest received	33.82	162.28
Net cash used in investing activities	-2283.42	800.47
Cash flow from financing activities
Proceeds from/ (repayment of) Long term borrowings	-197.85	-457.3
Proceeds from/ (repayment of) Short term borrowings	10.82	-1716.75
Interest paid	-999.68	-320.23
Net cash used in financing activities	-1186.71	-2494.27
Net increase in cash and cash equivalents	-225.46	-372.07
Cash and cash equivalents at the beginning of the financial year	292.46	664.53
Cash and cash equivalents at the end of the financial year	67.01	292.46

Certainly, here is a summary of the Cash Flow Statement for the years 2019 and 2018:

Cash Flows from Operating Activities:

1. Loss Before Taxation:

In 2019, the company incurred a substantial loss before taxation of -52,501.30, significantly higher than the loss in 2018 (-16,281.20).

2. Adjustments for Depreciation, Interest, and Provisions:

Depreciation and amortization expenses increased slightly from 2018 to 2019. Interest expenses increased, but interest income improved, resulting in a net increase in interest costs. Provisions for doubtful debts and service tax adjustments were made, affecting the overall operating profit.

3. Exceptional Items and Other Adjustments:

Several exceptional items, including impairment losses and gain on loan modification, affected the financials Waiver of interest on loans and bad debts written off impacted the operating profit.

4. Operating Profit Before Working Capital Changes:

Operating profit before working capital changes decreased from -2033.94 in 2018 to -1580.89 in 2019.

5. Working Capital Changes:

Changes in trade receivables, inventories, other financial assets, trade payables, and other liabilities influenced cash flow from operations.

6. Cash Used from Operations:

Cash used from operations increased from 22,928.78 in 2018 to 3,244.69 in 2019.

7. Direct Taxes and Net Cash Generated:

Direct taxes paid/refund received is not specified, but net cash generated from operating activities improved slightly from 2018.

Cash Flows from Investing Activities:

1. Capital Expenditure and Sales of Assets:

Capital expenditure on property, plant, and equipment (including impairment losses) was significant in 2019. Proceeds from the sale of property, plant, and equipment were minimal.

2. Fixed Deposits and Interest Received:

Movement in fixed deposits and interest received from investments affected the cash flow.

3. Net Cash Used in Investing Activities:

Overall, the company used more cash in investing activities in 2019 than in 2018.

Cash Flow from Financing Activities:

1. Long and Short Term Borrowings:

Changes in long-term and short-term borrowings resulted in a net cash used in financing activities, with a decrease in 2019 compared to 2018.

2. Interest Paid:

Interest paid increased significantly in 2019, contributing to the net cash used in financing activities.

Net Increase in Cash and Cash Equivalents:

1. Net Increase and Ending Cash:

Despite a decrease in the net increase in cash and cash equivalents, the ending cash and cash equivalents decreased from 292.46 in 2018 to 67.01 in 2019.

2. Beginning Cash:

The cash and cash equivalents at the beginning of the financial year decreased from 664.53 in 2018 to 292.46 in 2019.

Dividend History (NA)

Particulars	2019	2018
Dividend (final + interim) (In Rs.)	-	-

Annual Report

Indosolar Limited Annual Report 2018-19

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Indosolar Limited Annual Report and Financials