SRS Limited Annual Report | Financials | Balance Sheet for FY 2019-18

SRS Limited (SRS Limited) Return Comparision with Primex 40 Index

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SRS Limited

SRS Limited Balance Sheet (Rs In Lakhs)

PARTICULARS	2019	2018
ASSETS
Non-Current Assets
Property, Plant and Equipment	13,128.02	15,825.88
Capital work-in-progress	535.97	1,070.40
Intangible assets	28.02	91.28
Goodwill	-	123.35
Financial Assets
Investments	11.07	1.07
Other ﬁnancial assets	803.51	864.41
Deferred Tax Assets	62.64	138.25
Other non-current assets	437.13	578.41
Total Non-Current Assets	15,006.36	18,693.05
Current Assets
Inventories	59.86	55.91
Financial Assets
Trade receivables	572.66	377.35
Cash and cash equivalents	1,217.83	341.75
Bank Balance other than above	48.92	58.5
Other ﬁnancial assets	1,475.00	1,302.63
Other current assets	332.48	262.01
Total Current Assets	3,706.75	2,398.15
Total Assets	18,713.11	21,091.20
EQUITY AND LIABILITIES
EQUITY
Equity Share Capital	27,858.20	27,858.20
Other Equity	-1,31,902.21	-1,26,054.50
Total Equity	-1,04,044.01	-98,196.30
LIABILITIES
Non-Current Liabilities
Financial Liabilities
Borrowings	-	27.83
Other ﬁnancial liabilities	81.78	31.78
Provisions	101.15	105.11
Deferred Tax Liabilities	122.79	373.69
Total Non-Current Liabilities	305.72	538.41
Current Liabilities
Financial Liabilities
Short-Term Borrowings	91,094.11	90,255.69
Trade Payables	2,426.74	3,032.09
Other ﬁnancial liabilities	25,662.36	21,734.75
Provisions	98.54	118.91
Current Tax Liabilities (Net)	140.83	137.06
Other Current Liabilities	3,028.82	3,470.59
Total Current Liabilities	1,22,451.40	1,18,749.09
Total Liabilities	1,22,757.12	1,19,287.50
Total Equity and Liabilities	18,713.11	21,091.20

SRS Limited Profit & Loss Statement (Rs In Lakhs)

PARTICULARS	2019	2018
Continuing Operations
Income
Revenue from Operations	10,858.98	13,151.32
Other Income	317.43	101.17
Total Income	11,176.41	13,252.49
Expenses
Cost of materials consumed	609.09	840.78
Change in Inventories	-	8.94
Exhibition Cost	3,315.11	3,638.53
Employee beneﬁts expense	1,322.76	1,734.51
Finance Costs	5,313.45	1,109.69
Depreciation and amortization expense	1,042.68	1,285.28
Impairment of non-current assets	535.97	-
Other Expenses	5,153.25	7,965.90
Total	17,292.31	16,583.63
Loss from continuing operations before Exceptional items & Tax	-6,115.90	-3,331.14
Less: Exceptional items (net)	-123.35	-190.92
Loss from continuing operations before Tax	-6,239.25	-3,522.06
Less: Tax Expense
Current Tax	5.19	-10.03
Deferred Tax	-170.11	4,153.34
MAT Credit	-5.19	-
	-170.11	4,143.31
Loss for the year from continuing operations	-6,069.14	-7,665.37
Discontinued Operations
Loss from discontinued operations before Tax	-	-1,38,690.37
Less: Tax Expenses	-	-
Loss from discontinued operation after tax	-	-1,38,690.37
Loss for the year after tax	-6,069.14	-1,46,355.74
Other Comprehensive Income/(Expense)
Re measurement of net deﬁned beneﬁt plans	-24.23	19.2
Total Comprehensive Income for the year	-6,093.37	-1,46,336.54
Earning per share :
Face Value per Equity Share (in`)	10	10
From Continuing Operations
-Basic & Diluted (in `)
From Continuing Operations	-2.18	-2.75
From Discontinued Operations	-	-49.78
Total Basic & Diluted from continuing & discontinued operations (in `)	-2.18	-52.53

SRS Limited Consolidated Cash Flow Statement (Rs In Lakhs)

PARTICULARS	2019	2018
Cash ﬂow from continuing operations
Cash Flow from Operating Activities
Net Proﬁt before tax (as per Statement of Proﬁt and Loss)	-6,239.25	-3,522.06
Adjustments to reconcile net proﬁt to net cash provided by operating activities
Depreciation and amortisation expense	1,042.68	1,285.28
Bad debts & balance w/off	115.85	125.27
Provision for doubtful debts	8.83	234.3
Provision for doubtful loans & advances	64.61	475.96
Finance Cost	5,313.45	1,109.69
Impairment of Goodwill	123.35	-
Impairment of non-current assets	535.97	-
Interest Income	-5.21	-9.49
Loss / (Proﬁt) on sale of property, plant & equipments	737.7	273.14
Adjustment for non consolidation of subsidiary company	507.03	-
Foreign Exchange Fluctuation	0.02	-
Property, Plant and Equipment & CWIP written off	216.8	-1621.8
Changes in assets and liabilities
Increase/(Decrease) in Trade Payables	-605.35	439.6
Increase/(Decrease) in Other ﬁnancial liabilities, other liabilities and provisions	-927.87	-31,955.09
(Increase)/Decrease in Inventories	-3.95	5.68
(Increase)/Decrease in Trade Receivables	-204.16	-272.99
(Increase)/Decrease in Loans, other ﬁnancial assets and other assets	-123.48	-550.38
Cash Flow from Operating Activities before Tax	557.02	-30,739.29
Direct Taxes Paid	-	-
Net Cash Flow from Operating Activities before Tax (A)	557.02	-30,739.29
Cash Flow from Investing Activities
Purchases of Property, Plant and Equipment	-1.2	-517.65
Proceeds from Sale of Property, Plant and Equipment & CWIP	289.21	112.08
Interest Income	11.33	16.62
Net Cash Flow from Investing Activities (B)	299.34	-388.95
Cash Flow from Financing Activities
Repayments of Long Term Borrowings	-12.13	-25.9
Net Proceed from Short Term Borrowing	37.83	-
Repayments of Short Term Borrowings	-	-128.79
Interest Paid	-64.48	-634.08
Net Cash Flow from Financing Activities ( C)	-38.78	-788.77
Net Increase in Cash and Cash Equivalents (A+B+C)	817.58	-31,917.01
Cash ﬂow from discontinued operations
Cash Flow from Operating Activities	-	31,796.94
Cash Flow from Investing Activities	-	20.92
Cash Flow from Financing Activities	-	-371.34
Net Increase in Cash and Cash Equivalents (A+B+C)	-	31,446.52
Net Increase in Cash and Cash Equivalents (I + II)	817.58	-470.49
Cash and Cash Equivalent at the beginning of the year	400.25	870.74
Cash and Cash Equivalent at the end of the year	1217.83	400.25
Net Increase in Cash and Cash Equivalents	817.58	-470.49

Here 's a detailed explanation of the Cash Flow Statement for the years 2019 and 2018, broken down by activity, in rupees in lakhs:

Cash Flow from Operating Activities:

1. Net Cash Flow before Tax: In 2019, the net cash flow from operating activities before tax improved significantly to 557.02 rupees compared to the substantial negative value of -30,739.29 rupees in 2018.

2. Adjustments: Various adjustments were made to reconcile net profit to net cash provided by operating activities. These include depreciation, bad debts, provision for doubtful debts, provision for doubtful loans & advances, finance costs, impairment of goodwill, interest income, and loss/(profit) on the sale of assets.

3. Changes in Assets and Liabilities: Notable changes in assets and liabilities contributed to the positive cash flow. Trade payables, other financial liabilities, inventories, trade receivables, and loans/financial assets all saw changes, influencing the overall cash flow positively in 2019.

4. Cash Flow from Operating Activities before Tax (A): The net cash flow from operating activities before tax in 2019 was 557.02 rupees, indicating a significant improvement from the challenging financial position in 2018.

Cash Flow from Investing Activities:

1. Property, Plant and Equipment Transactions: Purchases of property, plant, and equipment reduced in 2019 to -1.2 rupees, indicating a decrease in capital expenditures. Proceeds from the sale of these assets increased to 289.21 rupees.

2. Interest Income: The interest income from investing activities increased from 16.62 rupees in 2018 to 11.33 rupees in 2019.

3. Net Cash Flow from Investing Activities (B): The net cash flow from investing activities improved from -388.95 rupees in 2018 to 299.34 rupees in 2019, reflecting a positive trend.

Cash Flow from Financing Activities:

1. Long-Term Borrowings: Repayments of long-term borrowings decreased slightly from -25.9 rupees in 2018 to -12.13 rupees in 2019.

2. Short-Term Borrowings: A net inflow from short-term borrowing of 37.83 rupees occurred in 2019.

3. Interest Paid: The interest paid reduced from -634.08 rupees in 2018 to -64.48 rupees in 2019.

4. Net Cash Flow from Financing Activities (C): The net cash flow from financing activities improved from -788.77 rupees in 2018 to -38.78 rupees in 2019, indicating a more favorable financing position.

Overall Cash Flow:

1. Net Increase in Cash and Cash Equivalents (A+B+C): The overall net increase in cash and cash equivalents improved from -31,917.01 rupees in 2018 to 817.58 rupees in 2019.

2. Cash Flow from Discontinued Operations: In 2018, discontinued operations contributed significantly to the positive cash flow, with cash flows from operating, investing, and financing activities all playing a role.

3. Net Increase in Cash and Cash Equivalents (I + II): Despite a decrease in 2018, the net increase in cash and cash equivalents in 2019 was positive at 817.58 rupees.

4. Cash and Cash Equivalent at the Beginning and End of the Year: The ending cash and cash equivalents increased from 400.25 rupees in 2018 to 1217.83 rupees in 2019.

5. Net Increase in Cash and Cash Equivalents: In 2019, there was a positive net increase in cash and cash equivalents of 817.58 rupees, while in 2018, there was a decrease of -470.49 rupees.

Annual Report

SRS Limited Annual Report 2018-19

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