ITL Finlease Ltd Annual Report | Revenue

ITL Finlease and Securities Limited (ITL Finlease) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
ITL Finlease and Securities Limited

ITL FINLEASE AND SECURITIES LIMITIED Balance Sheet (In Lakhs)

Particulars	2023	2022
ASSETS
Financial Assets
Cash and cash equivalents	4.56	9.20
Receivables
Trade Receivables	1.25	1.03
Loans	450.99	493.90
Investments	140.91	162.51
Other financial assets	33.30	38.20
Total Financial assets	631.01	704.83
Non-Financial Assets
Current tax assets(Net)	13.60	9.73
Investment Property	710.39	470.28
Property, Plant and Equipment	0.73	121.45
Other Intangible Assets	0.04	0.07
Other non-financial assets	0.02	0.02
Total Non-Financial Assets	724.78	601.56
TOTAL ASSETS	1,355.79	1,306.39
LIABILITIES & EQUITY
LIABILITIES
Financial Liabilities
Payables
Trade Payables
Total outstanding dues of creditors other than micro enterprises and small enterprises	0.32	3.57
Other Financial Liabilities	13.73	12.94
Non-Financial Liabilities
Provisions	19.49	22.55
Deferred Tax Liabilities(Net)	15.00	22.56
Other Non-Financial Liabilities	383.17	330.96
Total	431.71	392.58
EQUITY
Equity share capital	480.81	480.81
Other equity	443.27	432.99
Total Equity	924.08	913.80
Total Liabilities and Equity	1,355.79	1,306.39

ITL FINLEASE AND SECURITIES LIMITIED Profit & Loss Statement (In Lakhs)

Particulars	2023	2022
Revenue from operations
Interest Income	34.34	37.29
Rental Income	107.73	35.67
Total Revenue from Operations	142.07	72.95
Other Income	3.21	0.68
Total Income	145.28	73.63
Expenses
Finance Costs	0.78	0.31
Net Loss on fair value Changes	21.71	2.41
Impairment on financial instruments	(0.41)	(0.38)
Employee benefit expense	51.14	45.32
Depreciation and amortisation expense	32.41	2.40
Other expenses	24.81	22.00
Total Expenses	130.45	72.07
Profit before exceptional item and tax	14.83	1.56
Profit before tax	14.83	1.56
Tax Expense:
Current tax	9.80	1.58
Deferred tax	(6.79)	(1.41)
Earlier Year Tax	(0.64)	9.38
Total tax expense	2.36	9.55
Profit/ (Loss) for the year	12.47	(7.99)
Other Comprehensive income
Items that will not be reclassified to profit or loss
Remeasurment of defined benefit plans(Net)	(2.96)	0.14
Income tax relating to items that will not be reclassified to profit or loss	0.77	(0.04)
Total Other comprehensive income (Net of Tax)	(2.19)	0.11
Total comprehensive income for the year	10.27	(7.88)
Earning per equity share:
(Face value Rs.10 per share)
Basics and diluted (Rupees)	0.26	(0.17)

ITL FINLEASE AND SECURITIES LIMITIED Consolidated Cash Flow Statement (In Lakhs)

Particulars	2023	2022
A. Cash flow from Operating Activities
Profit for the year	14.83	1.56
Adjustment for:
Provision for Gratuity	(2.96)	0.14
Profit from LLP	(0.12)	(0.29)
Net (gain)/loss on financial instruments at fair value through profit or loss	21.71	2.41
Service Income		(0.36)
Finance Cost		0.31
Depreciation and amortisation of non-current assets	32.41	2.40
Cash generated from operation before working capital changes	65.86	6.18
Movements in working capital:
Adjustments for (increase)/decrease in operating assets:
Trade receivables	(0.22)	(0.82)
Other financial assets	4.90	(33.03)
Loan	42.91	93.03
Other non-financial assets	(3.87)	6.96
Adjustments for increase/(decrease) in operating liabilities:
Trade payables	(3.24)	3.23
Other Financial liabilities	0.78	8.25
Other Current laibilities	52.21	231.43
Provision	(3.06)	1.80
Cash generated from operations	156.27	317.03
Income tax paid	(9.16)	(10.96)
Net cash generated by operating activities(A)	147.12	306.07
B.Cash Flow from Investing Activities
Payments for Investment in Property	(151.75)	(338.37)
Net cash generated by/(used in) Investing Activities	(151.75)	(338.37)
Net decrease in Cash and cash equivalents (A+B+C)	(4.64)	(32.21)
Cash and cash equivalents at the beginning of the year	9.20	41.51
Cash and cash equivalents at the end of the year end	4.56	9.20

In 2023, the company reported a significant increase in cash flow from operating activities, amounting to INR 147.12 lakhs compared to the previous year 's INR 306.07 lakhs.

1. Profitability Growth:

- The company witnessed a notable surge in its profit for the year, reaching INR 14.83 lakhs, a substantial increase from the previous year 's INR 1.56 lakhs.

- There was a commendable adjustment for the provision for gratuity, contributing to an increase in cash flow by INR 2.96 lakhs.

2. Financial Instruments and Services:

- A significant net gain of INR 21.71 lakhs from financial instruments at fair value through profit or loss greatly influenced the positive cash flow.

- Service income and finance cost adjustments contributed to the overall cash flow.

3. Depreciation and Amortization:

- A noteworthy increase in depreciation and amortization of non-current assets was observed, amounting to INR 32.41 lakhs, compared to INR 2.40 lakhs in the previous year.

4. Working Capital Changes:

- The company efficiently managed its working capital, with a substantial decrease in trade receivables and an increase in other financial assets, contributing positively to cash flow.

- Notable adjustments in operating liabilities, including trade payables, other financial liabilities, and provisions, further enhanced the cash generated from operations.

5. Investing Activities:

- The company made significant payments for investment in property, amounting to INR 151.75 lakhs in 2023, as compared to INR 338.37 lakhs in the previous year, impacting cash flow from investing activities.

6. Overall Cash Position:

- Despite the increase in operating cash flow, the company experienced a net decrease in cash and cash equivalents, totaling INR 4.64 lakhs.

- The closing balance of cash and cash equivalents at the end of 2023 was INR 4.56 lakhs, down from INR 9.20 lakhs at the beginning of the year.

Annual Report

ITL Finlease And Securities Limited Annual Report 2023

Download