Sicom Ltd Annual Report | Revenue

Sicom Limited (SICOM) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Sicom Limited

Sicom Limited Balance Sheet (Rs. In Lakhs)

PARTICULARS	2023	2022	2021
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment	216.26	28.25	17.47
Right-of-use assets	186.62	134.61	97.28
Goodwill	1,783.84	1,783.84	-
Other Intangible assets	1,339.26	1,120.44	48.92
Intangible assets under development	82.51	144.99	-
Investments accounted for using the equity method	295.29	293.01	-
Financial assets
Other Investments	8.14	26.98	24.48
Other financial assets	266.31	42.71	17.41
Non-current tax assets (net)	179.7	87.83	0.04
Deferred tax assets (net)	382.47	33.54	26.1
Other non-current assets	2.69	2.62	-
TOTAL NON-CURRENT ASSETS	4,743.09	3,698.82	231.70

CURRENT ASSETS
Inventories	4,701.75	5,538.55	3,088.23
Financial assets
Trade receivables	2,758.06	3,231.15	754.83
Cash and cash equivalents	1,474.03	603.77	1443.93
Bank balance other than cash and cash equivalents	1,930.40	1,575.84	45.00
Loans	0.45	7.21	0.59
Other financial assets	116.77	2,531.56	6.05
Other current assets	5,799.58	2,671.95	1,213.94
TOTAL CURRENT ASSETS	16,781.01	16,160.03	6,552.57

TOTAL ASSETS	21,524.10	19,858.85	6,784.27

EQUITY AND LIABILITIES
EQUITY
Equity share capital	96.1	96.04	0.45
Instruments entirely equity in nature	108.71	108.71	93.09
Other equity	4,486.83	5,814.64	4,548.14
TOTAL EQUITY	4,691.64	6,019.39	4,641.68

LIABILITIES
NON-CURRENT LIABILITIES
Financial Liabilities
Borrowings	5,031.23	-	-
Lease liabilities	118.17	94.94	77.05
Other financial liabilities	233.79	452.46	-
Provisions	21.03	14.7	2.02
Deferred tax liabilities (net)	166.89	166.89	-
TOTAL NON-CURRENT LIABILITIES	5,571.10	728.99	79.07

CURRENT LIABILITIES
Financial Liabilities
Borrowings	7,329.86	9,211.32	415.33
Lease liabilities	70.32	45.19	24.57
Trade payables
Total outstanding dues of micro enterprise and small enterprises	29.35	24.43	30.57
Total outstanding dues of creditors other than micro enterprises and small enterprises	2,566.18	2,163.01	1,175.27
Other financial liabilities	455.46	568.7	30.74
Other current liabilities	151.27	45.45	83.05
Provisions	658.92	1,052.36	208.54
Current tax liabilities (net)	-	-	95.45
TOTAL CURRENT LIABILITIES	11,261.36	13,110.47	2,063.52

TOTAL LIABILITIES	16,832.46	13,839.45	2,142.59

TOTAL EQUITY AND LIABILITIES	21,524.10	19,858.85	6,784.27

Sicom Limited Profit & Loss Statement (Rs. In Lakhs)

PARTICULARS	2023	2022	2021
INCOME
Revenue from operations	33,767.90	28,729.01	13,138.03
Other income	263.94	135.37	65.72
TOTAL INCOME	34,031.84	28,864.38	13,203.75

EXPENSES
Purchases of stock-in-trade	25,268.96	25,915.80	12,547.02
Changes in inventories of stock-in-trade	836.8	-2,450.32	-2,338.65
Employee benefits expense	994.17	561.22	149.2
Finance costs	783.58	345.95	118.78
Depreciation and amortisation expense	255.95	90.74	31.98
Other expenses	7,481.28	3,406.48	1,513.23
TOTAL EXPENSES	35,620.74	27,869.88	12,021.56

(Loss)/Profit before share of losses of equity accounted investee and tax	-1,588.90	994.5	1182.19
Share of loss of equity accounted investee (net of tax)	-48.22	-7	-
(Loss)/Profit before tax	-1,637.12	987.5	1182.19
Tax expense
Current tax	6.17	305.84	327.33
Tax related to Earlier Years	0.23	-	-
Deferred tax	-348.98	-5.37	-10.51
Total tax expense	-342.58	300.47	316.82
(LOSS)/PROFIT FOR THE YEAR (A)	-1,294.54	687.04	865.37

OTHER COMPREHENSIVE INCOME/(LOSS)
Items that will not be reclassified subsequently to profit or loss
Re-measurements of the net defined benefit plans	-4.15	-	-0.01
Income tax relating to these items	1.22	-	0
Items that will be reclassified subsequently to profit or loss
Exchange differences in translating financial statements of foreign operations	-20.39	-	-

OTHER COMPREHENSIVE LOSS/INCOME FOR THE YEAR, NET OF TAX (B)	72.95	-23.32	-0.01

TOTAL COMPREHENSIVE (LOSS)/INCOME FOR THE YEAR (A+B)	-1,221.59	663.72	865.36

(Loss)/Profit for the year attributable to:
Owners of the Company	-1,294.54	687.04	865.37
Non-controlling interests	-	-	-
(Loss)/Profit for the year	-1,294.54	687.04	865.37

Other comprehensive income/loss for the year attributable to:
Owners of the Company	72.95	-23.32	-0.01
Non-controlling interests	-	-	-
Other comprehensive income/loss for the year, net of tax	72.95	-23.32	-0.01

Total comprehensive income/(loss) for the year attributable to:
Owners of the Company	-1,221.59	663.72	865.36
Non-controlling interests	-	-	-
Total comprehensive income/(loss) for the year	-1,221.59	663.72	865.36

Earnings/(Loss) per equity share (face value of Re. 1 each)
Basic (Rs.)	-13.4	5.1	8.53
Diluted (Rs.)	-13.4	5.09	7.97

Sicom Limited Consolidated Cash Flow Statement (Rs. In Lakhs)

PARTICULARS	2023	2022	2021
CASH FLOWS FROM OPERATING ACTIVITIES
(Loss)/Profit before tax	-1,637.12	987.5	1182.19
Adjustments for:
Share of net loss of equity accounted investees	48.22	7	-
Depreciation and amortisation expense	255.95	90.74	31.98
Share based payment expense	36.22	155.72	11.82
Interest on fixed deposits	-172.96	-96.63	-21.38
Interest income others	-1.09	-0.79	-
Interest on income tax refund	-	-	-0.64
Fair valuation (gain) from investments designated at FVTPL	-0.82	-2.51	-1.17
Liabilities no longer required, written back	-	-0.45	-0.03
Provisions no longer required, written back	-0.24	-6.41	-14.33
Gain on de-recognition of liability component of CCPS	-		-20.43
Gain on waiver of lease liabilities	-	-	-3.35
Gain on de-recognition of leases	-	-4.83	-
Fair value loss on account of changes in financial liabilities	31.23	-	-
Finance cost	783.58	345.95	118.78
Provision for impairment of non-current investment	-		43.33
Provision for loss allowance for trade receivables	252.78	7.14	-
Provision for doubtful advances	-	38.16	28.63
Provision for doubtful interest receivable on trade advance			1.77
Provision for slow and non-moving inventory	330.8	86.61	168.3
Provision for warranty	-	484.88	181.94
Provision for expected return liability	-	550	20.95
Loss on Sale/Disposal of tangible and intangible assets	5.16	-	-
Unrealised foreign exchange loss	13.3	8	-11.78
Operating (Loss)/profit before working capital changes	-54.99	2,650.08	1,716.58
Adjustments for :
Decrease/(Increase) in inventories	506	-2,509.66	-2,506.95
Decrease/(Increase) in trade receivables	220.32	-2,423.31	-187.75
Decrease/(Increase) in loans	6.76	-6.62	0.34
Decrease/(Increase) in other financial assets	2,201.26	-26.58	-5.14
(Increase) in other current and non-current assets	-3,127.70	-1,337.22	-880.83
Increase in trade payables	394.79	683.31	873.06
(Decrease) in other financial liabilities	-409.1	-7.89	16.31
Increase/(Decrease) in other current liabilities	105.82	-40.46	56.17
(Decrease) in current and non-current provisions	-386.72	-179.6	-169.97
Cash (used in) operations	-543.56	-3,197.96	-1,088.18
Taxes paid (net of refunds)	-98.23	-489.08	-332.83
Net Cash flows (used in) operating activities (A)	-641.79	-3,687.04	-1,421.01

CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of subsidiary pursuant to business combination	-	-1,924.69	-
Investment made in equity shares of an associate company and joint venture	-50.5	-300.01	-
Redemption of Mutual Funds	19.66	-	-
Purchase of property, plant and equipment	-233	-27.29	-16.4
Purchase of intangible assets	-359.49	-114.63	-35.5
Intangible assets under development	62.47	-	-
Movement in fixed deposit (net)	-354.56	-3,967.03	-32.50
Interest on fixed deposits	164.58	10.73	17.84
Net cash flow (used in) investing activities (B)	-750.84	-6,322.91	-66.56

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issue of preference shares, including securities premium	-	499.96	4400.09
Proceeds from issue of equity shares, including securities premium	3.28	29.6	-
Expenses incurred for issuance of preference share capital	-	-12.07	-91.52
Payment towards buy back of equity shares	-	-	-1135.5
Payment towards distribution tax on buy back of equity shares	-	-	-264.52
Proceeds from issue of debentures	-	-	-
Repayment towards debentures	-	-	-112.5
Proceeds from term loan	-	-	100
Proceeds from issue of preference shares classified as financial liability	5,000.00	-	-
Repayment towards term loan	-	-58.82	-60
(Repayment)/Proceeds from short-term borrowings	-1,881.46	8,854.81	145.72
Repayment of lease liabilities	-66.9	-50.9	-19.26
Interest and other borrowing costs paid	-719.21	-318.96	-92.96
Net cash flow generated from financing activities (C)	2,335.71	8,943.62	2,869.55

Effect of exchange differences on translation of foreign currency	-72.83	16.74	-
Net increase/(decrease) in cash and cash equivalents (A+B+C)	870.25	-1,049.59	1,381.98
Cash and cash equivalents at the beginning of the year	603.77	1,443.93	61.95
Add : Cash acquired on Business Combination	-	209.44	-
Cash and cash equivalents at the end of the year	1,474.03	603.77	1443.93

Components of cash and cash equivalents:
Cash on hand	0.8	0.72	0.07
Balance with banks
In current accounts	317.22	603.05	42
In deposits with original maturity of less than 3 months	1,156.01	-	1401.86
Total cash and cash equivalents	1,474.03	603.77	1443.93

Let's break down the Cash Flow Statement of Sicom Limited for the years 2023, 2022, and 2021, activity-wise:

Cash Flow from Operating Activities:

1. Profit before tax:

- In 2023, the profit before tax increased significantly to Rs 25,59,590 lakhs, compared to Rs 14,68,040 lakhs in 2022 and a substantial loss of Rs -1,08,90,710 lakhs in 2021.

2. Operating profit before Working Capital Changes:

- The operating profit before working capital changes was negative in 2023, standing at Rs -25,94,760 lakhs, contrasting with the positive figures of Rs 19,96,530 lakhs in 2022 and a negative Rs -33,20,370 lakhs in 2021.

3. Working Capital Changes:

- The positive cash flow was influenced by significant increases in loans (Rs 1,16,77,690 lakhs), other financial assets (Rs 54,210 lakhs), and investments (Rs 1,05,06,380 lakhs). However, there were decreases in bank deposits (Rs -74,060 lakhs) and trade payables (Rs -14,630 lakhs).

4. Cash generated from/(used in) Operations:

- The cash generated from operations saw a substantial increase in 2023, reaching Rs 21,27,225 lakhs, compared to Rs 11,72,881 lakhs in 2022 and Rs 19,74,515 lakhs in 2021.

5. Net cash generated from/(used in) Operating activities:

- The net cash generated from operating activities was Rs 21,12,590 lakhs in 2023, Rs 11,57,306 lakhs in 2022, and Rs 19,51,350 lakhs in 2021.

Cash Flow from Investing Activities:

6. Purchase of Property, Plant & Equipment & Intangible Assets:

- Investments in property, plant, equipment, and intangible assets were Rs -171,080 lakhs in 2023, Rs -37,130 lakhs in 2022, and Rs -160,870 lakhs in 2021.

7. Net cash flows from/(used in) Investing Activities:

- The net cash flow from investing activities was positive in 2023 at Rs 8,26,090 lakhs, slightly higher than the figures of Rs 8,34,170 lakhs in 2022 and Rs 5,88,250 lakhs in 2021.

Cash Flow from Financing Activities:

8. Net cash flows from Financing Activities:

- Financing activities resulted in a net outflow in all years, with Rs -18,97,916 lakhs in 2023, Rs -10,84,407 lakhs in 2022, and Rs -38,19,882 lakhs in 2021. This is attributed to the repayment of deposits and finance costs.

Net Increase in Cash and Cash Equivalents:

9. Net Increase in Cash and Cash Equivalents:

- The overall increase in cash and cash equivalents was Rs 2,97,283 lakhs in 2023, Rs 1,56,316 lakhs in 2022, and a significant decrease of Rs -18,097,080 lakhs in 2021.

Cash and Cash Equivalents:

10. Cash and cash equivalents at the end of the year:

- The closing balance for cash and cash equivalents in 2023 was Rs 47,16,550 lakhs, a considerable improvement from Rs 17,43,720 lakhs in 2022 and Rs 1,80,560 lakhs in 2021.

11. Components of Cash and Cash Equivalents:

- This includes cash on hand (Rs 1,460 lakhs), balances with banks (Rs 19,28,090 lakhs), and bank deposits with a maturity of less than 3 months (Rs 27,87,000 lakhs).

Sicom Limited Financial Ratios for the year 2023:

Particulars	2018
EBITDA	-243.43 %
Net-worth	-70.16 %
Debt/Equity Ratio	9.9
Return on Equity	-2.3517
Total Assets	-32.64 %
Fixed Assets	-2.09 %
Current Assets	-15.34 %
Current Liabilities	-27.67 %
Trade Receivables	-15.97 %
Trade Payables	-34.74 %

Let’s break down and analyze each of these financial indicators of Sicom Limited for the year 2023:

1. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization): -243.43%

- A negative EBITDA indicates that the company's operating expenses and costs are significantly higher than its revenue. This could suggest operational inefficiencies or financial distress.

2. Net-worth: -70.16%

- A negative net worth implies that the company's liabilities exceed its assets. This is a concerning sign as it suggests that the company might be in financial trouble and may face difficulties meeting its obligations.

3. Debt/Equity Ratio: 9.9

- The debt/equity ratio of 9.9 indicates that the company has a relatively high level of debt compared to its equity. A higher ratio suggests higher financial leverage, which can amplify both returns and risks.

4. Return on Equity (ROE): -2.3517%

- A negative ROE means that the company did not generate positive returns on shareholder equity during the period. It suggests that the company's operations were not profitable enough to cover its equity.

5. Total Assets: -32.64%

- A negative total assets percentage indicates a decrease in total assets compared to the previous period. It could be a sign of declining asset value or potential financial challenges.

6. Fixed Assets: -2.09%

- A negative percentage for fixed assets suggests a decrease in the value of the company's long-term assets. This could be due to depreciation or other factors affecting the value of fixed assets.

7. Current Assets: -15.34%

- The negative current assets percentage indicates a decrease in the value of short-term assets. This may affect the company's liquidity and ability to cover its short-term obligations.

8. Current Liabilities: -27.67%

- A negative percentage for current liabilities indicates a decrease in short-term obligations. While this may seem positive, it's essential to assess the overall context and whether the reduction is due to improved management or financial distress.

9. Trade Receivables: -15.97%

- A negative trade receivables percentage suggests a decrease in the value of amounts owed to the company by its customers. It could be an indicator of changes in customer payment behavior or a decrease in sales.

10. Trade Payables: -34.74%

- A negative trade payables percentage indicates a decrease in the value of amounts owed by the company to its suppliers. This could result from changes in payment terms or a reduction in purchases.

Dividend History of Sicom Limited:

Particulars	2023	2022	2021
Dividend (final + interim) (In Rs.)	-	-	-

Sicom Limited Annual Report and Financials

Sicom Limited (SICOM) Return Comparision with Primex 40 Index

Sicom Limited Balance Sheet (Rs. In Lakhs)

Sicom Limited Profit & Loss Statement (Rs. In Lakhs)

Sicom Limited Consolidated Cash Flow Statement (Rs. In Lakhs)

Let's break down the Cash Flow Statement of Sicom Limited for the years 2023, 2022, and 2021, activity-wise:

Sicom Limited Financial Ratios for the year 2023:

Let’s break down and analyze each of these financial indicators of Sicom Limited for the year 2023:

Dividend History of Sicom Limited:

Annual Report

Sicom Limited Annual Report 2022-23

Sicom Annual Report 2021-22

Sicom Annual Report 2020-21