Simplex Projects Limited Annual Report | Revenue

Simplex Projects Limited (SIMPLEX) Return Comparision with Primex 40 Index

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Simplex Projects Limited

Simplex Projects Limited Balance Sheet (Rs In Lakhs)

Particulars	2019	2018
ASSETS
Non-current assets
Property, plant and equipment	7,965.41	9,595.11
Capital work-in-progress	3,560.57	3,534.09
Financial Assets
i. Investments	103.54	99.57
ii. Other financial assets	998.89	834.22
Other Non-current Assets	2,026.78	2,535.12
Total Non-current Assets	14,655.20	16,598.11
Current Assets
Inventories	6,995.77	7,059.95
Financial Assets
i. Trade receivables	100,647.14	96,816.15
ii. Cash and cash equivalents	80.62	713.89
iii. Bank balances other than (iii) above	361.01	161.73
iv. Other financial assets	431.81	331.55
Current tax assets (net)	230.48	643.09
Other current assets	71842.99	70943.87
Total current assets	180,589.82	176,670.22
Total Assets	195,245.01	193,268.33
EQUITY AND LIABILITIES	230.48	643.09
Equity	71,842.99	70,943.87
Equity Share capital	1,260.04	1,260.04
Other Equity	10,694.59	10,116.42
Equity atributable to owner’s of Simplex Projects Ltd.	11,954.63	11,376.46
Non-controlling interest	-13.59	9.96
Total Equity	11,941.04	11,386.42
LIABILITIES
Non-current Liabilities
Financial Liabilities
Borrowings	-	1,182.61
Provisions	95.92	56.01
Deferred tax liabilities (net)	345.4	343.97
Other non-current liabilities	81,432.35	79,138.00
Total non-current liabilities	81,873.67	80,720.59
Current Liabilities
Financial Liabilities
i. Borrowings	67,382.26	56,640.50
ii. Trade Payables
Total Outstanding dues of MSE’S	95.92	56.01
Total Outstanding creditors other than MSE’S	24,154.21	31,859.75
iii. Other financial liabilities	3,016.22	2,749.91
Other current liabilities	6,733.73	9,795.79
Provisions	143.88	115.38
Total current liabilities	101,430.30	101,161.33
Total liabilities	183,303.97	181,881.91
Total Equity and Liabilities	195245.01	193.268.33

Simplex Projects Limited Profit & Loss Statement (Rs In Lakhs)

Particulars	2019	2018
Income
Revenue from Operations	24,871.95	25,174.80
Other Income	459.29	537.06
Total Revenue/Income	25,331.24	25,711.86
EXPENSES:-
Cost of materials consumed	4,077.11	4,621.86
Purchase of Trading Goods		9,308.52
Cost of Sub contracting and other site expenses	18,276.71	8,347.93
Employee Benefit Expenses	463.7	527.84
Finance Cost	479.39	562.07
Depreciation	476.78	1,574.66
Other Administrative Expenses	590.21	791.49
Total Expenses	25,363.90	25,734.37
Profit before exceptional items, share of net profit / (loss) of associates accounted for using equity method and tax	32.66	-22.51
Share of net profit / (loss) of associates accounted for using equity method	4.17	4.05
Profit before exceptional items and tax	-28.49	-18.46
Profit before tax	-28.49	-18.46
Income Tax expense :
Current Tax	-2.59	-3.32
MAT Credit entitlement
Deferred Tax - charge / (credit)	-159.41	-131.46
Total Tax Expense	-159.41	-131.46
Profit for the year	130.92	113
Other comprehensive income
(a) Items that may be reclassified to statement of Profit and Loss
Exchange differences on translation of foreign operations	15 615.84	620.81
Income Tax relating to this item	-160.12	-201.35
	455.72	419.46
(b) Items that will not be reclassified to statement of Profit and Loss
Remeasurements of post - employment benefit obligations	-31.76	29.64
Income Tax relating to this item		-10.25
Changes in fair value of FVOCI equity instruments	-0.16	0.08
	-31.92	19.47
Other comprehensive income for the year, net of tax (a+b)	423.8	438.93
Total comprehensive income for the year	554.72	551.93

Simplex Projects Limited Consolidated Cash Flow Statement (Rs In Lakhs)

Particulars	2019	2018
CASH FLOW FROM OPERATING ACTIVITIES :
Profit before Tax	-28.49	-18.46
Adjustments for :
Depreciation and Amortization Expenses	1,476.78	1,574.66
Finance Cost	479.39	562.07
Dividend received	-0.05	-0.04
Interest Income	139.53	-450.35
Fair value gain from financial assets measured at FVPL	-77.55	-72.89
Liabilities no longer required written back	-5.57	-13.79
Exchange (Gain) / Loss on non Integral branch	455.72	419.46
Provision for employee benefits	-31.92	19.47
	2,436.33	2,038.58
Operating Profit before Working Capital Changes	2,407.83	2,020.12
Change in operating assets and liabilities
(Increase) / Decrease in Trade and other payables	-7,705.54	10,620.57
(Increase) / Decrease in Trade and other receivables	-3,830.99	-10,694.06
(Increase) / Decrease in Non- current Assets	-771.87	2,665.12
(Increase) / Decrease in Inventories	64.18	-1,513.34
	-12,244.22	1,078.29
Cash generated from operations	-9,836.38	3,098.41
Income Taxes (Paid) / Refund	412.61	1,238.68
Net Cash inflow from operating activities	-9,423.78	4,337.09
B CASH FLOW FROM INVESTING ACTIVITIES :
(Increase) / Decrease in Investments	-3.97	-4.15
Purchase of Property, plant and equipment	126.44	-368.76
Proceeds from Sale of Property, plant and equipment		73.83
Dividend received	0.05	0.04
Interest received	-139.53	450.35
Net Cash used in Investing Activities	-17.02	151.3
	-9,440.80	4,488.39
C CASH FLOW FROM FINANCING ACTIVITIES :
Repayment of Non-current borrowings	-1,182.61	-534.68
Intercorporate loans and advances (incl. deposits)	-272.24	-1,439.20
Proceeds from short term borrowings	10,741.76	-2,126.66
Finance cost paid	-479.39	-562.07
Net Cash used in Financing Activities	8,807.52	-4,662.61
Net increase / (decrease) in cash and cash equivalents	-633.28	-174.22
Cash and Cash Equivalents at the beginning of the year	713.89	888.11
Cash and Cash Equivalents at the end of the year	80.62	713.89

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

A. Cash Flow from Operating Activities:

1. Profit before Tax:

In 2019, the profit before tax was -Rs 28.49, indicating a loss, whereas in 2018, it was -Rs 18.46.

2. Adjustments:

Depreciation and Amortization Expenses:

In 2019, the depreciation and amortization expenses were Rs 1,476.78, compared to Rs 1,574.66 in 2018.

Finance Cost:

Finance costs were Rs 479.39 in 2019 and Rs 562.07 in 2018.

Dividend received:

A negligible dividend received of -Rs 0.05 in 2019 and -Rs 0.04 in 2018.

Interest Income:

Interest income was Rs 139.53 in 2019 and -Rs 450.35 in 2018.

Fair value gain from financial assets measured at FVPL:

A fair value gain of -Rs 77.55 in 2019 and -Rs 72.89 in 2018.

Liabilities no longer required written back:

Liabilities no longer required written back was -Rs 5.57 in 2019 and -Rs 13.79 in 2018.

Exchange (Gain) / Loss on non Integral branch:

An exchange gain of Rs 455.72 in 2019 and Rs 419.46 in 2018.

Provision for employee benefits:

A provision for employee benefits of -Rs 31.92 in 2019 and Rs 19.47 in 2018.

The total adjustments amounted to Rs 2,436.33 in 2019 and Rs 2,038.58 in 2018.

3. Operating Profit before Working Capital Changes:

Operating profit before working capital changes was Rs 2,407.83 in 2019 and Rs 2,020.12 in 2018.

4. Change in operating assets and liabilities:

(Increase) / Decrease in Trade and other payables:

A significant decrease of -Rs 7,705.54 in 2019, compared to an increase of Rs 10,620.57 in 2018.

(Increase) / Decrease in Trade and other receivables:

A decrease of -Rs 3,830.99 in 2019, compared to a decrease of -Rs 10,694.06 in 2018.

(Increase) / Decrease in Non-current Assets:

A decrease of -Rs 771.87 in 2019, compared to an increase of Rs 2,665.12 in 2018.

(Increase) / Decrease in Inventories:

An increase of Rs 64.18 in 2019, compared to a decrease of -Rs 1,513.34 in 2018.

The total change in operating assets and liabilities amounted to -Rs 12,244.22 in 2019 and Rs 1,078.29 in 2018.

5. Cash generated from operations:

Cash generated from operations was -Rs 9,836.38 in 2019 and Rs 3,098.41 in 2018.

6. Income Taxes (Paid) / Refund:

Income taxes paid or refunded amounted to Rs 412.61 in 2019 and Rs 1,238.68 in 2018.

7. Net Cash inflow from operating activities:

The net cash inflow from operating activities was -Rs 9,423.78 in 2019 and Rs 4,337.09 in 2018.

B. Cash Flow from Investing Activities:

1. (Increase) / Decrease in Investments:

A minor decrease of -Rs 3.97 in 2019, compared to -Rs 4.15 in 2018.

2. Purchase of Property, plant and equipment:

There was a purchase of property, plant, and equipment amounting to Rs 126.44 in 2019, compared to a decrease of -Rs 368.76 in 2018.

3. Proceeds from Sale of Property, plant and equipment:

Proceeds from the sale of property, plant, and equipment were Rs 73.83 in 2019.

4. Dividend received:

A negligible dividend received of Rs 0.05 in 2019 and Rs 0.04 in 2018.

5. Interest received:

Interest received was -Rs 139.53 in 2019 and Rs 450.35 in 2018.

6. Net Cash used in Investing Activities:

The net cash used in investing activities was -Rs 17.02 in 2019 and Rs 151.3 in 2018.

C. Cash Flow from Financing Activities:

1. Repayment of Non-current borrowings:

Repayment of non-current borrowings amounted to -Rs 1,182.61 in 2019 and -Rs 534.68 in 2018.

2. Intercorporate loans and advances (incl. deposits):

Intercorporate loans and advances had a repayment of -Rs 272.24 in 2019 and -Rs 1,439.20 in 2018.

3. Proceeds from short term borrowings:

Proceeds from short-term borrowings were Rs 10,741.76 in 2019 and -Rs 2,126.66 in 2018.

4. Finance cost paid:

Finance cost paid amounted to -Rs 479.39 in 2019 and -Rs 562.07 in 2018.

5. Net Cash used in Financing Activities:

The net cash used in financing activities was Rs 8,807.52 in 2019 and -Rs 4,662.61 in 2018.

Net increase / (decrease) in cash and cash equivalents:

There was a net decrease in cash and cash equivalents of -Rs 633.28 in 2019 and -Rs 174.22 in 2018.

Cash and Cash Equivalents at the beginning and end of the year:

Cash and cash equivalents at the beginning of 2019 were Rs 713.89 and decreased to Rs 80.62 at the end of the year. In 2018, cash and cash equivalents at the beginning were Rs 888.11, and it decreased to Rs 713.89 at the end of the year. This suggests a significant reduction in available cash over the two years, influenced by operating, investing, and financing activities.

Annual Report

Simplex Projects Annual Report 2018-19

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