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×

Surana Industries Limited Annual Report and Financials

Surana Industries Limited (Surana Industries) Return Comparision with Primex 40 Index

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

Surana Industries Limited Balance Sheet (Rs In Lakhs)

Particulars

2017

2016

ASSETS

 

 

Non-current assets

 

 

(a) Property, Plant and Equipment

73,083.91

77,509.32

(b) Goodwill

3,700.77

1,074.93

(c) Other Intangible assets

1,643.33

1,523.20

(d) Other non-current assets

16,198.31

24,366.55

Total Non current assets (A)

94,626.32

104,474.00

Current assets

 

 

(a) Assets reposed by lenders

125,766.86

125,766.86

(b) Inventories

15,262.84

17,633.75

(c) Financial Assets

 

 

(i) Trade receivables

16,987.37

29,504.07

(ii) Cash and cash equivalents

36.67

168.71

(d) Other current assets

2,350.09

2,343.12

Total Current assets (B)

160,403.83

175,416.52

Total Assets

255030.15

279,890.52

EQUITY AND LIABILITIES

 

 

EQUITY

 

 

(a) Equity Share capital

5,091.06

4,451.91

(b) Other Equity

 

 

(i) Equity attributable to shareholders of the company

-172,940.82

-82,970.47

Non Controlling interest

639.34

590.33

Total Equity (C)

-167,210.41

-77,928.23

LIABILITIES

 

 

Non-current liabilities

 

 

(a) Financial Liabilities

 

 

(i) Borrowings

1,515.31

75,229.90

(b) Provisions

1,093.37

1,128.81

Current liabilities

 

 

(a) Financial Liabilities

 

 

(i) Borrowings

71,245.28

51,043.31

(ii) Trade payables

27,427.77

28,255.52

(iii) Other financial liabilities

308,526.31

199,697.63

(b) Deferred tax liability

1,388.53

1,388.53

(c) Other current liabilities

3,161.42

796.58

(d) Provisions

7,882.57

278.47

Total Liabilities (D)

422,240.56

357,818.75

Total Equity and Liabilities (C+D)

255,030.15

279,890.52

 Surana Industries Limited Profit & Loss Statement (Rs In Lakhs)

Particulars

2017

2016

REVENUE

 

 

(a) Revenue from operations (Gross)

6,841.35

61,954.08

(b) Other income

307.57

1,125.00

Total income

7,148.92

63,079.08

Expenses

 

 

(a) Cost of materials consumed

1,776.72

10,710.82

(b) Purchases of Stock in trade (Traded goods)

3,728.16

51,961.64

(c) Changes in inventories of finished goods, work in progress and stock-in-trade

6,102.03

9,700.12

(d) Employee benefits expense

595.94

687.49

(e) Finance Costs

31,728.89

16,851.20

(f) Depreciation and amortization expense

5,145.65

5,408.01

(g) Excise duty

517.47

1,792.66

(h) Other expenses

13,505.45

6,783.45

Total expenses

63,100.31

103895.4

Profit /Loss before exceptional items and tax

-55,951.39

-40,816.32

Exceptional items

43,951.79

80,938.18

Profit/(loss) before tax

-99,903.18

-121,754.50

Net Profit/(loss) for the period

-99,903.18

-121,754.50

Total comprehensive income

-99,903.18

-121,754.50

Net Profit/(loss) attributable

-99,900.82

-121,751.58

Shareholders of the company

-2.92

-2.92

Non controlling interests

-99,903.18

-121,754.50

Earnings per Share (for continuing operation)

 

 

(i) Basic

-196.23

-273.49

(ii) Diluted

-196.23

-273.49

Surana Industries Limited Consolidated Cash Flow Statement (Rs In Lakhs)

Particulars

2017

2016

A. Cash flow from operating activities

 

 

Loss for the year before exceptional items and tax

-55,951.39

-40,816.35

Add: Exceptional Items

 

 

Interest capitalized relating to CWIP charged off

 

68,475.79

Pre-operating expenditure capitalized relating to CWIP charged off

-

7,657.45

Inventory relating to CWIP charged off

 

5,234.68

Impairment of expenditure incurred on land relating to CWIP charged off

-11,672.40

7,800.00

Reversal of recompense interest

-37,894.75

-8,229.74

Provision reversal on account of consolidation

5,615.36

 

Loss for the year before tax and after exceptional item

-99,303.18

-121,754.53

Adjustments for:

 

 

Depreciation expense

5,163.62

5,408.01

Finance costs

31,603.65

16,559.57

Interest income

 

-53.73

Dividend income

 

-0.12

Liabilities no longer required written back

-82.49

-771.59

Provision for doubtful trade receivables, loans and advances

 

3,373.48

Trade receivables written off

-12,087.43

68.73

Provision for contingencies

 

-29.49

Profit on sale of asset

-0.24

 

Provision for employee benefits

 

-29.88

Interest capitalized charged off

37,234.53

60,687.22

Interest capitalized relating to CWIP charged off

 

7788.56

Pre-operating expenditure capitalized relating to CWIP charged off

 

7657.46

Impairment of fixed assets

6057.04

 

Loss on fixed assets due to vardah cyclone Prior period expenses

21.09

 

Prior period expenses

17.4

 

Inventory relating to CWIP charged off

 

5,234.68

Impairment of expenditure incurred on land relating to CWIP charged off

 

7,800.00

Reversal of recompense interest

655.5

-8,229.74

Loss on sale / write off of assets

 

7.86

Operating loss before working capital changes

-7,145.64

-16,224.55

Changes in working capital:

 

 

Adjustments for (increase) / decrease in operating assets:

 

 

Inventories

6,247.03

14,741.60

Trade receivables

334.11

1,169.72

Short term loans and advances

-25.07

6,138.87

Long term loans and advances

115.13

-5,951.52

Adjustments for increase / (decrease) in operating liabilities:

 

 

Trade payables

-855.1

-7,671.22

Short Term Provisions

404.92

90.3

Other current liabilities

-6,213.16

220.71

Other long term liabilities

 

-5,877.64

Long term provisions

-35.44

-19.23

Cash generated from operations

-7,173.22

-13,382.97

Net income tax paid

4.95

-15.21

Net cash flow used in operating activities (A)

-7,168.28

-13,398.18

B. Cash flow from investing activities

 

 

Capital expenditure on fixed assets, including capital advances

 

4,810.01

Proceeds from sale of fixed assets / Capital Work in Progress

51.24

816.03

Purchase of non current investment

3.09

 

Bank balances not considered as Cash and cash equivalents matured during the year

 

-0.02

Movement in Bank deposits (See Note 1 below)

81.32

736.48

Realization from advances

29.4

 

Interest received from banks

0.01

53.73

Dividend received from investments

 

0.12

Net cash flow from / (used in) investing activities (B)

165.07

6416.4

C. Cash flow from financing activities

 

 

Proceeds from short-term borrowings

-24.48

830

Proceeds from other long-term borrowings

 

 

Repayment of long-term borrowings

-2,013.53

 

Net increase in working capital borrowings

9,012.40

9,588.36

Dividend paid

 

-1.88

Proceeds / (Repayment) from Bank Borrowings

 

-252.41

Finance costs (includes borrowing costs capitalized )

-21.9

-5,089.63

Net cash flow from financing activities (C)

6,952.49

5,074.43

Net increase / (decrease) in Cash and cash equivalents (A+B+C)

-50.76

-1907.35

Cash and cash equivalents at the beginning of the year

71.08

1978.43

Cash and cash equivalents at the end of the year Notes

20.32

71.08

1. Reconciliation of Cash and cash equivalents with the Balance Sheet:

 

 

Cash and cash equivalents (Refer Note 8)

 

154.44

Less : Bank balances not considered as Cash and cash equivalents as defined in AS 3 Cash Flow Statements (Refer Note 8)

 

88.34

Cash and cash equivalents at the end of the year

20.32

66.1

2. Disclosure of non cash adjustments:

 

 

(a) Conversion of interest into borrowings

 

2475.67

(b) Conversion of borrowings to capital

4654.35

 

(c) Capitalization of interest

 

 

(d) Purchase of investments without payment of consideration in cash

3500

 

(e) Transfer of stocks from capital work in progress to inventory (net of provision)

 

3037.6

Certainly, here is a summary of the Cash Flow Statement for the years 2017 and 2016:

A. Cash Flow from Operating Activities:

2017:

1. Loss before exceptional items and tax: -55,951.39

2. Adjustments for Exceptional Items:

Interest capitalized relating to CWIP charged off: 68,475.79

Pre-operating expenditure capitalized relating to CWIP charged off: 7,657.45

Inventory relating to CWIP charged off: 5,234.68

Impairment of expenditure incurred on land relating to CWIP charged off: -11,672.40

Reversal of recompense interest: -37,894.75

Provision reversal on account of consolidation: 5,615.36

3. Loss for the year before tax and after exceptional items: -99,303.18

4. Adjustments for Depreciation, Finance Costs, Interest Income, Dividend Income, and various provisions and adjustments.

5. Operating loss before working capital changes: -7,145.64

6. Changes in working capital (Increase/Decrease in):

Inventories: 6,247.03

Trade receivables: 334.11

Short-term loans and advances: -25.07

Long-term loans and advances: 115.13

Trade payables: -855.10

Short-term provisions: 404.92

Other current liabilities: -6,213.16

Other long-term liabilities, etc.

7. Cash generated from operations: -7,173.22

8. Net income tax paid: 4.95

9. Net cash flow used in operating activities (A): -7,168.28

2016:

Similar breakdown as in 2017 with corresponding values for each item.

B. Cash Flow from Investing Activities:

2017:

1. Capital expenditure on fixed assets, including capital advances: 4,810.01

2. Proceeds from the sale of fixed assets / Capital Work in Progress: 51.24

3. Purchase of non-current investment: 3.09

4. Movement in Bank deposits: 81.32

5. Realization from advances: 29.4

6. Interest received from banks, Dividend received from investments, etc.

7. Net cash flow from / (used in) investing activities (B): 165.07

2016:

Similar breakdown as in 2017 with corresponding values for each item.

C. Cash Flow from Financing Activities:

2017:

1. Proceeds from short-term borrowings: -24.48

2. Repayment of long-term borrowings: -2,013.53

3. Net increase in working capital borrowings: 9,012.40

4. Dividend paid, Proceeds / (Repayment) from Bank Borrowings, Finance costs, etc.

5. Net cash flow from financing activities (C): 6,952.49

2016:

Similar breakdown as in 2017 with corresponding values for each item.

Net Increase / (Decrease) in Cash and Cash Equivalents:

2017:

Net increase / (decrease) in Cash and cash equivalents (A+B+C): -50.76

2016:

Net increase / (decrease) in Cash and cash equivalents (A+B+C): -1907.35

Cash and Cash Equivalents:

2017:

Cash and cash equivalents at the beginning of the year: 71.08

Net increase / (decrease) during the year: -50.76

Cash and cash equivalents at the end of the year: 20.32

2016:

Cash and cash equivalents at the beginning of the year: 1978.43

Net increase / (decrease) during the year: -1907.35

Cash and cash equivalents at the end of the year: 66.1

Reconciliation of Cash and Cash Equivalents with the Balance Sheet:

1. Cash and cash equivalents (Refer Note 8): 154.44

2. Less: Bank balances not considered as Cash and cash equivalents: -88.34

3. Cash and cash equivalents at the end of the year: 20.32

Disclosure of Non-Cash Adjustments:

1. Conversion of interest into borrowings: 2475.67

2. Conversion of borrowings to capital: 4654.35

3. Purchase of investments without payment of consideration in cash: 3500

4. Transfer of stocks from capital work in progress to inventory (net of provision): 3037.6

Annual Report

Surana Industries Limited Annual Report 2017

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