Sophia Exports Limited Annual Report | Balance Sheet

Sophia Exports Limited (Sophia Exports) Return Comparision with Primex 40 Index

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Sophia Exports Limited

SOPHIA EXPORT LTD Balance Sheet (In Lakhs)

Particulars	2023	2022
Assets
Non-Current Assets
Property, Plant and Equipment	10.51	11.83
Investment Properties	9,819.85	9,819.85
Financial Assets
i. Investments	64,311.64	31,839.35
ii. Others	6.00	6.00
Deferred tax assets
Total Non-Current Assets	74,148.09	41,677.02
Current Assets
Financial Assets
i. Trade receivables	5,070.32	11,291.76
ii. Cash and cash equivalents	32.14	239.62
iii. Loans	26,481.30	110.94
Other current assets	95,876.19	95,349.14
Total Current Assets	1,27,459.96	1,06,991.46
Total Assets	2,01,507.95	1,48,668.49
EQUITY AND LIABILITIES
EQUITY
Equity share capital	38,535.00	38,535.00
Other equity
Retained earning	87,380.66	84,839.78
Security premium	18,535.00	18,535.00
Total Equity	1,44,450.66	1,41,909.78
LIABILITIES
Non-Current Liabilities
Deferred tax liabilities (Net)	746.62	426.64
Total Non-Current Liabilities	746.62	426.54
Current Liabilities
Financial Liabilities
Borrowings	65,642.61	4,691.74
Trade Payables
Other current liabilities	320.06	346.43
Provisions	448.00	1,204.00
Current tax liabilities (net)
Total Current Liabilities	56,410.67	6,332.17
Total Equity and Liabilities	2,01,607.95	1,48,668.49

SOPHIA EXPORT LTD Profit & Loss Statement (In Lakhs)

Particulars	2023	2022
Revenue from Operations	4,080.00	5,020.03
Other Income	6,958.09	15,673.22
Total Income	11,038.09	20,693.25
Expenses
Purchase of stock-in-trade	4,032.00	4,921.80
Employee benefit expense	1,598.93	2,269.73
Finance cost	2,005.54	260.19
Depreciation and amortisation expenses	1.32	1.46
Other expenses	978.13	1,345.74
Total Expenses	8,615.92	8,798.73
Profit/(Loss) before exceptional items and tax	2,422.17	12,094.52
Exceptional items
Profit/(Loss) before tax	2,422.17	12,094.52
Tax expenses
Current tax	633.49	1,630.03
Deferred tax	-0.13	149.26
Profit/(Loss) for the year	1,588.80	10,315.23
Other Comprehensive Income
A.(i) Items that will not be reclassified to profit or loss	1,272.29	951.58
(ii) Income Tax relating to items that will not be reclassified to profit or loss	320.21	239.49
Total Comprehensive Income for the period	952.08	712.09
(Comprising Profit/(Loss) and Other Comprehensive Income for the year)	2,540.88	11,027.31
Earning per equity share
Basics	0.56	2.86
Diluted	0.56	2.86

SOPHIA EXPORT LTD Consolidated Cash Flow Statement (In Lakhs)

Particulars	2023	2022
A. CASH FLOW FROM OPERATING ACTIVITIES
Net Profit before tax for the year	3,694.46	13,046.10
Adjustments for:
Depreciation	1.32	1.40
Unrealised gain on foreign currency exchange
Unrealised (gain)/loss on mutual fund revaluation	-1,272.29	-951.58
Realised gain on sale of Mutual Fund
Realised gain on sale of investment in property		-9,978.56
Profit on sale of Depreciation Assets		-98.28
Interest received	-6,697.09	-5,263.78
Rent Received	-281.00	-492.00
Operating Profit before Working Capital Changes:	-4,534.60	-3,777.22
Adjustment for Increase/Decrease in operating Assets
(Increase)/Decrease in Current Assets	-20,675.97	-4,631.88
(Decrease)/Increase in Current Liabilities and Provisions	-552.29	-6,420.02
Cash generated from Operations	-25,762.86	-14,829.12
Less Adjustment for-
Provisions for Taxation and other Deferred tax	-1,153.68	-2,018.78
Net cash from Operating Activities	-26,916.44	-16,847.91
B. CASH FLOW FROM INVESTING ACTIVITIES
Investments in Mutual Funds/Partnership Firms	-31,200.00	-6,500.00
Investments in property		12,600.00
Fixed Assets		300.00
Interest received	6,697.09	5,263.78
Rent Received	261.00	492.00
Net cash from Investing Activities	24,241.91	12,155.78
C. CASH FLOW FROM FINANCING ACTIVITIES
Overdraft From Bank	50,950.86	4,530.24
Net Cash used in Financing Activities	50,950.66	4,530.24
Net Increase in Cash equivalents (A+B+C)	-207.49	-161.89
Cash & Cash equivalents as at (Opening Balance)	239.62	401.51
Cash & Cash equivalents as at (Closing Balance)	32.13	239.62

In 2023, the company 's cash flow statement reveals a series of financial activities that can be summarized as follows:

1. Operating Activities:

- The company 's net profit before tax for the year decreased significantly from 13,046.10 lakhs in 2022 to 3,694.46 lakhs in 2023.

- Several adjustments were made to calculate the operating profit before working capital changes, resulting in a negative operating profit of -4,534.60 lakhs in 2023, compared to -3,777.22 lakhs in 2022.

- The significant adjustments include a substantial unrealized loss on foreign currency exchange of -1,272.29 lakhs and a realized gain on the sale of investments in property of -9,978.56 lakhs.

- Cash generated from operations decreased substantially, reaching -25,762.86 lakhs in 2023, compared to -14,829.12 lakhs in 2022.

- This negative cash flow from operating activities can be attributed to a substantial increase in current assets, -20,675.97 lakhs in 2023, and a decrease in current liabilities and provisions of -552.29 lakhs.

2. Investing Activities:

- In 2023, the company invested -31,200.00 lakhs in Mutual Funds/Partnership Firms, a significant increase compared to -6,500.00 lakhs in 2022.

- The company also invested 12,600.00 lakhs in property and 300.00 lakhs in fixed assets.

- Despite these investments, the company received interest and rent, resulting in a net cash flow from investing activities of 24,241.91 lakhs in 2023, compared to 12,155.78 lakhs in 2022.

3. Financing Activities:

- The company 's financing activities show a significant increase in the overdraft from the bank, which rose to 50,950.86 lakhs in 2023, up from 4,530.24 lakhs in 2022.

- The net cash used in financing activities increased to 50,950.66 lakhs in 2023, compared to 4,530.24 lakhs in 2022.

Annual Report

Sophia Exports Limited Annual Report for FY 2022-23

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