Mysore Paints Annual Reports, Balance Sheet and Financials

Mysore Paints and Varnish Lmited Balance Sheet (Rs in Thousands)

Mysore Paints and Varnish Lmited Profit & Loss Statement (Rs in Thousand)

Mysore Paints and Varnish Lmited Consolidated Cash Flow Statement (Rs in Thousand)

Here is a summary of the Cash Flow Statement for the years 2023 and 2022, broken down by activity:

Operating Activities:

The net cash flow from operating activities decreased significantly from 77,985.52 in 31-03-2022 to -46,166.76 in 31-03-2023. This drastic change primarily resulted from various adjustments made to the operating profit before working capital changes.

While the operating profit before working capital changes decreased from 46,540.08 in 31-03-2022 to 28,811.96 in 31-03-2023, adjustments for changes in operating assets and liabilities further impacted the cash flow. Notable adjustments include decreases in inventories, trade receivables, and short-term loans and advances, as well as increases in trade payables and other current liabilities.

Additionally, a decrease in direct tax paid in 31-03-2023 compared to 31-03-2022 contributed to the change in net cash flow from operating activities.

Investing Activities:

Cash flow from investing activities decreased from 4,577.71 in 31-03-2022 to -23,657.50 in 31-03-2023. This significant change was mainly due to variations in fixed deposits with banks and capital expenditures on fixed assets.

Notably, there was a substantial decrease in fixed deposits with banks, reflecting a shift in investment strategies or liquidity requirements. Similarly, capital expenditures on fixed assets also decreased in 31-03-2023 compared to 31-03-2022.

Financing Activities:

Cash flow from financing activities decreased from -4,002.65 in 31-03-2022 to -8,911.46 in 31-03-2023. This change was primarily influenced by dividend payments and finance costs.

Dividend payments increased significantly in 31-03-2023 compared to the previous year, indicating potential changes in dividend policies or cash distribution strategies. Additionally, there was a slight decrease in finance costs in 31-03-2023 compared to 31-03-2022.

Change in Cash and Cash Equivalents:

The net increase in cash and cash equivalents was -78,735.72 in 31-03-2023, compared to 78,560.58 in 31-03-2022. This significant decrease suggests a substantial shift in the company 's liquidity position or cash management practices.

As a result, the company 's cash and cash equivalents at the end of 31-03-2023 were 31.57, a substantial decrease from 78,767.29 recorded at the end of 31-03-2022.

Below are the Financial Ratios of Mysore Paints and Varnish Lmited

Insight of the financial ratios of Mysore Paints and Varnish Lmited for March 31, 2023

Current Ratio:

The current ratio increased significantly from 6.81 in 2022 to 20.06 in 2023. This indicates a substantial improvement in the company 's short-term liquidity position, as it now has significantly more current assets to cover its current liabilities.

Return on Equity (ROE) Ratio / Return on Investment (ROI) Ratio:

The return on equity and return on investment ratios decreased from 4.62 and 0.04 in 2022 to 3.88 and 0.05 in 2023, respectively. While the return on investment increased slightly, the return on equity decreased. This suggests that the company 's profitability relative to shareholders ' equity slightly declined, but profitability relative to total investment increased.

Inventory Turnover Ratio:

The inventory turnover ratio decreased from 11.23 in 2022 to 7.01 in 2023. This indicates that the company is selling its inventory at a slower rate in 2023 compared to 2022, which may indicate changes in sales patterns or inventory management practices.

Trade Receivables Turnover Ratio:

The trade receivables turnover ratio increased from 2.21 in 2022 to 2.71 in 2023. This suggests that the company is collecting its receivables more efficiently in 2023, which can help improve cash flow and reduce the risk of bad debts.

Trade Payables Turnover Ratio:

The trade payables turnover ratio decreased from 11.63 in 2022 to 10.97 in 2023. This indicates that the company is taking slightly longer to pay its suppliers in 2023 compared to 2022.

Net Capital Turnover Ratio:

The net capital turnover ratio was not provided for 2022 but increased significantly to 35.52 in 2023. A high net capital turnover ratio indicates efficient utilization of capital to generate sales.

Net Profit Ratio:

The net profit ratio remained relatively stable, decreasing slightly from 0.15 in 2022 to 0.14 in 2023. This suggests that the company maintained its profitability in 2023 compared to the previous year.

Return on Capital Employed (ROCE):

The return on capital employed decreased from 0.1 in 2022 to 0.08 in 2023. This indicates a slight decrease in the company 's efficiency in generating profits from its capital employed.

Dividend History of Mysore Paints and Varnish Limited