Ritman Infra Limited Annual Report

Ritman Infra Limited (Ritman Infra) Return Comparision with Primex 40 Index

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Ritman Infra Limited

Ritman Infra Limited Balance Sheet (Rs In Thousands)

Particulars	2019	2018
ASSETS
Non- Current Assets
Property, plant and equipment	2,256	2,747
Capital work in progress	1,301	1,301
Investment property	34,060	33,245
Financial assets
Investments	8,029	7,982
Other financial assets	284	284
Deferred tax assets (net)	229	27
	46,159	45,586
Current Assets
Inventories	23,772	40,577
Financial assets
Trade receivables	12,577	13,551
Cash and cash equivalents	1,162	2,366
Other bank balances	6,298	5,941
Other financial assets	3,615	4,981
Current tax assets (net)	475	-
Other current assets	48,045	49,377
	95,944	1,16,793
Total Assets	1,42,103	1,62,379
EQUITY AND LIABILITIES
Equity
Equity share capital	31,925	31,925
Other equity	-6,350	4,878
Total Equity	25,575	36,803
Liabilities
Non- Current Liabilities
Financial liabilities
Borrowings	452	725
Other financial liabilities	6,284	7,473
	6,736	8,198
Current Liabilities
Financial liabilities
Borrowings	8,672	12,683
Trade payables	14,367	11,788
Other financial liabilities	273	354
Other current liabilities	86,480	92,397
Current tax liabilities (net)	-	156
	1,09,792	1,17,378
Total Equity and Liabilities	1,42,103	1,62,379

Ritman Infra Limited Profit & Loss Statement (Rs In Thousand)

Particulars	2019	2018
Revenue from operations	18,641	21,468
Other income	399	911
Total Income	19,040	22,379
Expenses
Cost of land and other developmental expenses	4,886	17,427
Purchases of stock in trade	294	405
Changes in inventories of Finished Goods, Stock in trade and work in progress	16,805	-7,314
Employee benefits expense	1,293	1,413
Finance costs	621	642
Depreciation and amortization expenses	1,199	1,240
Other expenses	5,366	6,439
Total Expenses	30,464	20,252
Profit/(loss) before tax	-11,424	2,127
Tax expenses
(a) Current tax	53	501
(b) Deferred tax expense / (income)	-212	-157
Profit/(loss) for the year	-11,265	1,783
Other comprehensive income
(a) Items that will be reclassified to the statement of profit and loss
Net changes in fair value of investments other than equity shares carried at fair value through OCI	47	86
(b) Income tax relating to these items	-10	-23
Other comprehensive income for the year, net of tax	37	63
Total comprehensive income for the year	-11,228	1,846
Earnings per equity share (face value of `10 each)
Basic and diluted	-3.53	0.56

Ritman Infra Limited Consolidated Cash Flow Statement (Rs In Thousand)

Particulars	2019	2018
Cash flow from Operating Activities
Net profit before tax	-11,424	2,127
Adjustments to reconcile net profit to net cash provided by operating activities:
Depreciation and amortization expenses	1,199	1,240
Interest expenses	621	642
Misc. balances written off	-	-
(Profit)/loss on sale of fixed assets	-	348
(Profit)/loss on sale of investments in subsidiaries	-	-513
Provision for doubtful debts	458	161
Interest income	-399	-398
Cash flow before working capital changes	-9,545	3,607
Adjustments for working capital changes:
(Increase)/Decrease in inventories	16,805	-7,314
(Increase)/Decrease in trade receivables	518	1,456
(Increase)/Decrease in other financial assets	1,366	-1,556
(Increase)/Decrease in other assets	1,332	7,049
Increase/(Decrease) in trade payables and other financial liabilities	1,283	10,347
Increase/(Decrease) in other non-financial liabilities	-5,917	-8,576
Cash flow from operating activities before taxes paid	5,842	5,013
Less: Taxes paid	684	484
Net cash provided by operating activities	5,158	4,529
Cash flow from Investing Activities
Interest received	40	40
Sale of non-current investments	-	615
Purchase of investment property	-1,370	-
Purchase of non-current investments	-	-31
Sale of fixed assets	-	600
Purchase of fixed assets	-153	-966
Net cash provided by/(used in) financing activities	-1,483	258
Cash flow from Financing Activities
Borrowings made/(refunded), net of interest expenses	-4,879	-2,718
Net cash provided by financing activities	-4,879	-2,718
Net increase/(decrease) in cash flows	-1,204	2,069
Cash and cash equivalents at the beginning of the year	2,366	297
Cash and cash equivalents at the end of the year	1,162	2,366
Fixed Deposits with bank1	6,298	5,941
Cash and bank balances at the end of the year	7,460	8,307

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

A. Cash Flow from Operating Activities:

1. Net Profit Before Tax:

In 2019, the company reported a significant decrease in net profit before tax, moving from a profit of Rs 2,127 in 2018 to a loss of Rs -11,424 in 2019. This indicates a substantial decline in profitability.

2. Adjustments to Reconcile Net Profit to Net Cash Provided by Operating Activities:

Depreciation and Amortization Expenses:

2019: Rs 1,199

2018: Rs 1,240

Depreciation and amortization expenses remained relatively stable between the two years, indicating consistent non-cash expenses.

Interest Expenses:

2019: Rs 621

2018: Rs 642

Interest expenses also showed a slight decrease, suggesting potential cost management efforts.

Misc. Balances Written Off, (Profit)/Loss on Sale of Fixed Assets, (Profit)/Loss on Sale of Investments in Subsidiaries:

No specific information is provided for these items, indicating a lack of detail in the disclosure.

Provision for Doubtful Debts:

2019: Rs 458

2018: Rs 161

The provision for doubtful debts increased in 2019, which could be indicative of higher anticipated credit losses.

Interest Income:

2019: -Rs 399

2018: -Rs 398

The negative interest income suggests that the company paid more interest than it received, impacting the overall cash flow.

3. Cash Flow Before Working Capital Changes:

In 2019, the cash flow before working capital changes decreased to Rs -9,545 from Rs 3,607 in 2018. This indicates challenges in generating positive cash flow from core operations.

4. Adjustments for Working Capital Changes:

(Increase)/Decrease in Inventories:

2019: Rs 16,805

2018: -Rs 7,314

The substantial increase in inventories in 2019 may be attributed to changes in production or inventory management practices.

(Increase)/Decrease in Trade Receivables:

2019: Rs 518

2018: Rs 1,456

The increase in trade receivables in 2019 may indicate delayed payments from customers.

(Increase)/Decrease in Other Financial Assets, (Increase)/Decrease in Other Assets:

These adjustments involve changes in other financial and non-financial assets, indicating shifts in the composition of the company 's asset base.

Increase/(Decrease) in Trade Payables and Other Financial Liabilities, Increase/(Decrease) in Other Non-Financial Liabilities:

These adjustments involve changes in trade payables and other financial and non-financial liabilities, suggesting variations in the company 's liabilities.

5. Cash Flow from Operating Activities Before Taxes Paid:

In 2019, the cash flow from operating activities before taxes paid was Rs 5,842 million, reflecting the net effect of operating activities and working capital changes.

6. Taxes Paid:

2019: Rs 684

2018: Rs 484

Taxes paid increased in 2019, potentially due to the change in profitability and other tax-related factors.

7. Net Cash Provided by Operating Activities:

The net cash provided by operating activities was Rs 5,158 million in 2019 and Rs 4,529 million in 2018. This represents the net cash generated or used by the company 's operating activities.

B. Cash Flow from Investing Activities:

1. Interest Received:

2019: Rs 40

2018: Rs 40

Interest received remained constant between the two years.

2. Sale of Non-Current Investments, Purchase of Investment Property, Purchase of Non-Current Investments, Sale of Fixed Assets, Purchase of Fixed Assets:

Specific details for these activities are not provided, limiting the ability to assess the nature of investments and capital expenditures.

3. Net Cash Provided by/(Used in) Investing Activities:

2019: -Rs 0.12

2018: -Rs 9.3

The company reported a significant improvement in net cash used in investing activities, moving from -Rs 9.3 in 2018 to -Rs 0.12 in 2019.

C. Cash Flow from Financing Activities:

1. Borrowings Made/(Refunded), Net of Interest Expenses:

2019: -Rs 4,879

2018: -Rs 2,718

The company borrowed a net amount of -Rs 4,879 in 2019 and -Rs 2,718 in 2018.

2. Net Cash Provided by Financing Activities

2019: -Rs 4,879

2018: -Rs 2,718

The net cash provided by financing activities reflects the overall impact of borrowing and repayment activities.

D. Net Increase/(Decrease) in Cash Flows:

The net increase/(decrease) in cash flows was -Rs 1,204 n in 2019 and Rs 2,069 in 2018. This indicates a decrease in cash resources in 2019 compared to an increase in 2018.

E. Cash and Cash Equivalents:

1. Cash and Cash Equivalents at the Beginning of the Year:

2019: Rs 2,366

2018: Rs 297

The company began 2019 with cash and cash equivalents of Rs 2,366, significantly higher than the Rs 297 in 2018.

2. Cash and Cash Equivalents at the End of the Year:

2019: Rs 1,162

2018: Rs 2,366

The company ended 2019 with cash and cash equivalents of Rs 1,162, indicating a decrease from the previous year.

F. Fixed Deposits with Bank1 and Cash and Bank Balances at the End of the Year:

1. Fixed Deposits with Bank1:

2019: Rs 6,298

2018: Rs 5,941

2. Cash and Bank Balances at the End of the Year:

2019: Rs 7,460

2018: Rs 8,307

These items provide additional details on the company 's financial assets at the end of the year.

Annual Report

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