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Morning Glory Leasing And Finance Ltd Annual Report and Financials

Morning Glory Leasing And Finance Limited (Morning Glory Leasing) Return Comparision with Primex 40 Index

Periods 1 Week 1 Month 3 Months 6 Months 1 Year 3 Years All Time
Primex-40
Morning Glory Leasing And Finance Limited

Morning Glory Leasing And Finance Limited Balance Sheet (Rs)

Particulars

2023

2022

ASSETS

 

 

Non-current assets

 

 

a)  Financial Assets

 

 

i) Investments

6,52,39,721

6,45,10,945

ii)Other non curernt tax assets

5,27,765

5,56,279

Current assets

 

 

a) Financial Assets

 

 

i) Cash and cash equivalents

1,63,850

1,31,224

ii)Short term Loan and advances

1,36,333

87,911

iii) Trade Receivable

1,09,500

1,09,500

Total

  6,61,77,169 

  6,53,95,859 

EQUITY AND LIABILITIES

 

 

Equity

 

 

a) Equity Share Capital

24,90,000

24,90,000

b) Other Equity

6,36,06,284

6,27,73,040

Liabilities

 

 

Current Liabilities

 

 

a) Financial Liability

 

 

i) Trade payables

 

 

- Total outstanding dues of creditors other than MESE

-

90,000

ii) Other current liabilities

38,115

19,100

iii) Current Tax Liabilities

42,770

23,719

Total

  6,61,77,169 

  6,53,95,859 

 Morning Glory Leasing And Finance Limited Profit & Loss Statement (Rs)

Particulars

2023

2022

Revenue from operations

5,89,090

5,44,410

Other Income

63,232

63,232

Total Revenue

6,52,322

5,44,410

Expenses:

 

 

Employee benefit expense

1,11,935

1,20,000

Other expenses

2,66,218 

2,72,362 

Total Expenses

3,78,153

3,92,362

Profit (Loss) Before exceptional item and tax

2,74,169

1,52,048

Profit (Loss) Before  tax

2,74,169

1,52,048

Tax Expenses

 

 

Less : Provision for Tax for current year

71,284

39,532

Profit for the year

2,02,885

1,12,516

Other Comprehensive Income

 

 

(i) Items that will reclassified subsequently to statement of profit and loss

6,30,359

2,75,55,570

Other Comprehensive Income Net of Tax

6,30,359

2,75,55,570

Total Comprehensive Income Net of Tax

8,33,244

2,76,68,086

Basic and Diluted EPS (Rs per share)

3.35

111.12

Morning Glory Leasing And Finance Limited Consolidated Cash Flow Statement (Rs)

Particulars

2023

2022

Cash Flow from Operating Activities

 

 

Net Profit before Tax & Extraordinary items

2,74,169

1,52,048

Less: Dividend Received on Investments

-89,090

-44,410

Interest Received

-3,232

-

Other Income

-60,000

-

Operating Profit before Working Capital Changes

1,21,847

1,07,638

Adjustments for:

 

 

Trade & Other Receivables

-48,422

21,986

Other Non Current Assets

28,514

15,813

Trade Payables

-51,934

26,715

Less: Taxes Paid

-71,284

-39,532

Net Cash from/(used in) Operating Activities

-21,279

1,32,620

Cash Flow from Investing Activities

 

 

Purchase of Investments

-98,417

-99,338

Dividend on Investment Received

89,090

44,410

Interest Received

3,232

-

Other Income

60,000

-

Net Cash from Investing Activities

53,905

-54,928

Net Change in Cash and Cash Equivalents

32,626

77,692

Cash & Cash Equivalents As At 1st April (Opening Balance)

1,31,224

53,532

Cash & Cash Equivalents As At 31st March (Closing Balance)

1,63,850

1,31,224

 Certainly, here is a summary of the Cash Flow Statement for the years 2023 and 2022:

Cash Flow from Operating Activities:

1. Net Profit before Tax & Extraordinary items:

In 2023, the net profit before tax and extraordinary items increased significantly to Rs. 2,74,169 from Rs. 1,52,048 in 2022.

2. Adjustments for Dividend Received on Investments and Interest Received:

Dividend received on investments saw a substantial increase from -Rs. 44,410 in 2022 to -Rs. 89,090 in 2023, indicating a higher dividend income. Interest received in 2023 was -Rs. 3,232.

3. Other Income and Operating Profit before Working Capital Changes:

Other income, which includes non-operational revenue, was -Rs. 60,000 in 2023. Operating profit before working capital changes increased to Rs. 1,21,847 in 2023 from Rs. 1,07,638 in 2022.

4. Adjustments for Working Capital Changes:

Adjustments for trade and other receivables, other non-current assets, and trade payables resulted in a net decrease in cash flow from operating activities. Notably, trade and other receivables decreased by -Rs. 48,422, other non-current assets increased by Rs. 28,514, and trade payables decreased by -Rs. 51,934.

5. Taxes Paid:

Taxes paid increased from -Rs. 39,532 in 2022 to -Rs. 71,284 in 2023, affecting the net cash flow from operating activities, which amounted to -Rs. 21,279 in 2023 compared to Rs. 1,32,620 in 2022

Cash Flow from Investing Activities:

1. Purchase of Investments:

The purchase of investments decreased slightly from -Rs. 99,338 in 2022 to -Rs. 98,417 in 2023.

2. Dividend on Investment Received, Interest Received, and Other Income:

Dividend on investment received increased from Rs. 44,410 in 2022 to Rs. 89,090 in 2023. Interest received was Rs. 3,232, and other income, which includes non-operating income, was Rs. 60,000.

3. Net Cash from Investing Activities:

The net cash flow from investing activities improved significantly, amounting to Rs. 53,905 in 2023, compared to -Rs. 54,928 in 2022.

Net Change in Cash and Cash Equivalents:

The net change in cash and cash equivalents for the year 2023 was Rs. 32,626, resulting in closing cash and cash equivalents of Rs. 1,63,850, compared to the opening balance of Rs. 1,31,224. This indicates a positive cash flow and increased liquidity over the year.

Bellow are the Financial Ratios

Paticulars

2023

2022

Current Ratio

2.47

2.57

Return on Equity Ratio

0.45

0.07

Return on Equity Ratio after comprehensive

111.12

57.85

Trade Receivable Turnover Ratio

3.43

1.97

Net Capital Turnover Ratio

9.77

18.72

Net Profit Ratio

0.21

0.037

Return on Capital Employed

0.061

0.01

Return on Investment

0.002

0

Here is a summary of the financial and operational metrics for Morning Glory Leasing And Finance Limited for the years 2023 and 2022:

1. Current Ratio:

In 2023, the current ratio was 2.47, a slight decrease from 2.57 in 2022. This ratio indicates the company 's ability to cover its short-term liabilities with its short-term assets.

2. Return on Equity Ratio:

The return on equity (ROE) ratio increased significantly from 0.07 in 2022 to 0.45 in 2023, indicating a higher profitability relative to shareholders ' equity.

3. Return on Equity Ratio after Comprehensive:

The return on equity after comprehensive adjustments surged to 111.12 in 2023 from 57.85 in 2022, suggesting a substantial improvement in the company 's ability to generate comprehensive returns for shareholders.

4. Trade Receivable Turnover Ratio:

The trade receivable turnover ratio increased from 1.97 in 2022 to 3.43 in 2023, indicating a more efficient management of trade receivables during the year.

5. Net Capital Turnover Ratio:

The net capital turnover ratio declined from 18.72 in 2022 to 9.77 in 2023. This may suggest a lower utilization of capital to generate revenue.

6. Net Profit Ratio:

The net profit ratio increased from 0.037 in 2022 to 0.21 in 2023, indicating an improved ability to convert revenue into net profit.

7. Return on Capital Employed (ROCE):

The return on capital employed increased from 0.01 in 2022 to 0.061 in 2023, reflecting a better return on the capital invested in the business.

8. Return on Investment (ROI):

The return on investment (ROI) was 0.002 in 2023, a slight improvement from 0 in 2022. While still low, any positive ROI suggests a return on the investment made in the company.

Annual Report

Morning Glory Leasing & Finance Ltd Annual Report 2022-23

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