Talwalkars Healthclubs Limited Annual Report and Financials

Talwalkars Healthclubs Limited Balance Sheet (Rs In Million)

Particulars	2018	2017
ASSETS
I) Non- Current Assets
(a) Property, Plant and Equipment	3,429.31	2,855.66
(b) Capital work in progress	542.3	313.2
(c) Goodwill	78.27	79.77
(d) Other intangible assets	90.12	90.12 -
(e)  Financial Assets
(i) Investments	967.31	579.62
(ii) Other financial assets	1,441.93	1,329.09
(f ) Other non-current Assets	207.87	274.73
	6,757.11	5,522.19
II) Current Assets
(a) Inventories	132.57	-
(b) Financial Assets
(i) Investments	74.85	0.32
(ii) Loans	398.05	373.65
(iii) Trade receivables	138.78	22.42
(iv) Cash and cash equivalents	447.58	422.84
(v) Bank balances other than (iv) above	-	4.38
(vi)  Other financial assets	163.62	218.88
(c) Other current Assets	273.25	146.09
	1,628.70	1,188.58
Total Assets (i+ii)	8,385.81	6,710.77
EQUITY AND LIABILITIES
I) Equity
(i) Equity share capital	310.05	297.05
(ii) Other equity	4,032.11	3,005.81
Equity attributable to owners of the company	4,342.16	3,302.86
Non controlling interest	24.72	36.36
Total Equity	4,366.88	3,339.22
II) Liabilities
(i) Non-current liabilities
(a) Financial liabilities
(i) Borrowings	3,006.46	2,798.94
(ii) Other financial liabilities	1.55	13.16
(b)  Deferred tax liabilities (net)	122.77	50.97
(c) Other non-current liabilities	0.52	0.63
	3,131.30	2,863.70
(ii) Current Liabilities
(a) Financial Liabilities
(i) Borrowings	5.04	5.61
(ii) Trade payables	94.68	102.73
(iii) Other financial liabilities	720.74	322.83
(b)  Liabilities for current tax (net)	45.47	61.71
(c) Other current liabilities	21.65	4.94
(d)  Provisions	0.05	10.03
	887.63	507.85
Total Liabilities (i+ ii)	4,018.93	3,371.55
Total Equity and Liabilities (I+II)	8,385.81	6,710.77

Talwalkars Healthclubs Limited Profit & Loss Statement (Rs In Million)

Particulars	2018	2017
1. Revenue
(a) Revenue from Operations	2,470.85	2,252.66
(b) Other Income	120.84	19.32
Total Revenue	2,591.69	2,271.98
2. Expenses
(a)  Employee benefit expense	356.11	335.1
(b) Finance costs	166.82	113.67
(c)  Depreciation and amortization expense	302.52	302.29
(d) Other expenses	722.54	655.23
Total Expenses	1,547.99	1,406.29
3. Profit before exceptional and extraordinary items and tax (1-2)	1,043.70	865.69
4. Exceptional Items	0.81	-3.92
5. Profit before tax (3 + 4)	1,044.51	861.77
6. Tax expense:
(a) Current tax	284.97	300.44
(b) Deferred tax	71.5	-1.34
(c) Tax expenses relating to prior years	-	6.71
7. Profit after tax and before share of associate /joint venture (5 - 6)	688.04	555.96
8. Share of Profit of Associate/joint venture (net of tax)	13.38	28.85
9. Profit for the year (7+8)	701.42	584.81
10. Other Comprehensive Income
OCI that will be reclassified to P/L in susequent year
Exchange difference arising on translation of foreign operations	0.46	-
Other Comprehensive Income / (expenses) for the year	0.46	-
Total Comprehensive Income for the year (Comprising Comprehensive Income for the year) (9+10)	701.88	584.81
Profit for the year attributable to
- Owners of the company	692.67	573.7
- Non controlling interest	8.74	11.11
Other Comprehensive Income for the year attributable to
- Owners of the company	0.46	-
Total Comprehensive Income for the year attributable to
- Owners of the company	693.14	573.7
- Non controlling interest	8.74	11.11
11. Earning per equity share (of ₹10 each) :
(a)  Basic	22.34	18.5
(b) Diluted	22.34	18.5

Talwalkars Healthclubs Limited Consolidated Cash Flow Statement (Rs In Million)

Particulars	2018	2017
A. CASH FLOW FROM OPERATING ACTIVITIES:
Profit before share of profit of associate / joint venture and tax	1,044.51	861.77
Adjustments for :
Depreciation and Amortisation	302.52	302.29
Finance cost (Net)	166.82	113.67
Interest Income (including fair value change in financial instruments)	-18.8	-18.54
Dividend Income	-0.76	-
Profit on sale of investments (net)	-	-
Gain on financial assets measured at fair value through Profit and Loss account	-100.08	-0.02
Gain/Loss on foreign exchange fluctuation (Net)	1.14	-0.01
(Profit)/Loss on sale of assets	-0.81	3.92
Exchange difference arising on translation of foreign operations	0.46
Operating Profit before Working capital changes	1,395.00	1,263.08
Adjustments for Working Capital Changes :
(Increase)/Decrease in Trade Receivables	-116.35	223.55
(Increase)/Decrease in Other Current Assets	-114.47	26.44
(Increase)/Decrease other loan and advances	-68.52	-260.21
(Increase)/Decrease financial assets	112.51	-569.74
(Increase)/Decrease in Inventories	-132.57	-
Increase/(Decrease) in Trade payables	-9.19	3.2
Increase/(Decrease) in Financial libilities	0.4	0.1
Increase/(Decrease) in other payables	16.61	-96.93
Increase/(Decrease) in Provisions	-9.98	-
Cash generated from operations	1,073.44	589.49
Net Income Tax (Paid) / Refund	-300.9	-312.87
Net cash (used in)/ from operating activities	772.54	276.62
B. CASH FLOW FROM INVESTING ACTIVITES:
Capital Expenditure on Property ,Plant & Equipments including Capital Advances	-1,064.66	-742.59
Proceeds from sale of fixed assets	15.84	16.1
Income from Investment activity	1.65	1.04
(Increase)/Decrease loan and advances to associate & related parties	44.11	-23.31
Payable to subsidiary	-7.2	11.94
(Increase)/Decrease in investment in Associate & joint venture	-14.3	2.91
Share application money given	-610	-400
Share application money refund/(paid)	350	-
Dividend income	0.84
Net (investment in)/ Proceeds from bank deposits	-148.57	-232.82
Net cash (used in)/from Investing activities	-1,432.29	-1,366.73
C. CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from Issue of Shares	399.82	-
Redemption of Non Convertible Debentures	-	447.7
Issue proceeds from Non Convertible Debentures	298.42	-
Proceeds from Borrowings	291.94	680.61
Transaction with NCI	-20.38	0.03
Repayment of Long term and other borrowings	-30.98	0.51
Finance cost paid (net)	-127.79	-93.84
Dividend Paid (Including dividend distribution tax)	-53.63	-53.63
Net cash (used in)/from Financing Activities	757.4	981.38
NET INCREASE IN CASH AND CASH EQUIVALENTS (A+B+C)	97.65	-108.73
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR	419.74	528.47
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR	517.39	419.74

Certainly, here is a summary of the Cash Flow Statement for the years 2018 and 2017:

A. Cash Flow from Operating Activities:

2018:

1. Profit before share of profit of associate / joint venture and tax: Rs 1,044.51

This represents the profit generated by the company before accounting for the share of profit from associates/joint ventures and taxes.

2. Adjustments for:

Depreciation and Amortization: Rs 302.52

Depreciation and amortization are non-cash expenses that represent the decrease in the value of assets over time. These are added back to the profit as they are non-cash items.

Finance cost (Net): Rs 166.82

Net finance cost represents the cost of borrowing. It includes interest expenses and is added back to the profit as it is a non-cash item.

Interest Income (including fair value change in financial instruments): Rs -18.8

Interest income is subtracted as it 's a cash inflow and should be excluded from the operating activities section.

Dividend Income: Rs -0.76

Dividend income is subtracted as it 's a cash inflow and should be excluded from the operating activities section.

Profit on sale of investments (net): -

If there are profits from selling investments, they would be added. In this case, it 's not specified.

Gain on financial assets measured at fair value through Profit and Loss account: Rs -100.08

This represents the gain on financial assets measured at fair value through the Profit and Loss account. It is subtracted as it 's a cash inflow.

Gain/Loss on foreign exchange fluctuation (Net): Rs 1.14

This represents the net gain or loss on foreign exchange fluctuations. It is added as it 's a cash inflow.

(Profit)/Loss on the sale of assets: Rs -0.81

If there are profits or losses from selling assets, they would be accounted for here.

3. Operating Profit before Working capital changes: Rs 1,395.00

This is the profit before considering changes in working capital.

4. Adjustments for Working Capital Changes:

(Increase)/Decrease in Trade Receivables: Rs -116.35

An increase in trade receivables is a use of cash, and a decrease is a source of cash. Here, it 's a decrease, so it 's a source of cash.

(Increase)/Decrease in Other Current Assets: Rs -114.47

An increase in other current assets is a use of cash, and a decrease is a source of cash. Here, it 's a decrease, so it 's a source of cash.

(Increase)/Decrease other loans and advances: Rs -68.52

An increase in loans and advances is a use of cash, and a decrease is a source of cash. Here, it 's a decrease, so it 's a source of cash.

(Increase)/Decrease financial assets: Rs 112.51

An increase in financial assets is a use of cash, and a decrease is a source of cash. Here, it 's an increase, so it 's a use of cash.

(Increase)/Decrease in Inventories: Rs -132.57

An increase in inventories is a use of cash, and a decrease is a source of cash. Here, it 's a decrease, so it 's a source of cash.

Increase/(Decrease) in Trade payables: Rs -9.19

An increase in trade payables is a source of cash, and a decrease is a use of cash. Here, it 's a decrease, so it 's a use of cash.

Increase/(Decrease) in Financial liabilities: Rs 0.4

An increase in financial liabilities is a source of cash, and a decrease is a use of cash. Here, it 's an increase, so it 's a use of cash.

Increase/(Decrease) in other payables: Rs 16.61

An increase in other payables is a source of cash, and a decrease is a use of cash. Here, it 's an increase, so it 's a use of cash.

Increase/(Decrease) in Provisions: Rs -9.98

An increase in provisions is a source of cash, and a decrease is a use of cash. Here, it 's a decrease, so it 's a use of cash.

5. Cash generated from operations: Rs 1,073.44

This is the net result of operating activities after considering changes in working capital.

6. Net Income Tax (Paid) / Refund: Rs -300.9

This represents the cash paid for income taxes and is subtracted.

7. Net cash (used in)/from operating activities: Rs 772.54

This is the net cash inflow or outflow from operating activities.

B. Cash Flow from Investing Activities:

2018:

1. Capital Expenditure on Property, Plant & Equipment (including Capital Advances): Rs -1,064.66

This represents the cash used for investing in property, plant, and equipment.

2. Proceeds from sale of fixed assets: Rs 15.84

This represents the cash received from selling fixed assets.

3. Income from Investment activity: Rs 1.65

This represents income generated from investment activities.

4. (Increase)/Decrease loan and advances to associate & related parties: Rs 44.11

An increase in loans and advances is a use of cash, and a decrease is a source of cash. Here, it 's an increase, so it 's a use of cash.

5. Payable to subsidiary: Rs -7.2

This represents the cash paid to a subsidiary and is subtracted.

6. (Increase)/Decrease in investment in Associate & joint venture: Rs -14.3

An increase in investment is a use of cash, and a decrease is a source of cash. Here, it 's a decrease, so it 's a source of cash.

7. Share application money given: Rs -610

This represents the cash given for share applications and is subtracted.

8. Share application money refund/(paid): Rs 350

This represents the cash received for share applications and is added.

9. Dividend income: Rs 0.84

This represents the cash received from dividends and is added.

10. Net (investment in)/ Proceeds from bank deposits: Rs -148.57

This represents the net cash used or received from bank deposits.

11. Net cash (used in)/from Investing activities: Rs -1,432.29

This is the net cash inflow or outflow from investing activities.

C. Cash Flow from Financing Activities:

2018:

1. Proceeds from Issue of Shares: Rs 399.82

This represents the cash received from issuing shares.

2. Redemption of Non-Convertible Debentures: Rs -

This represents the cash paid for redeeming non-convertible debentures.

3. Issue proceeds from Non-Convertible Debentures: Rs 298.42

This represents the cash received from issuing non-convertible debentures.

4. Proceeds from Borrowings: Rs 291.94

This represents the cash received from borrowings.

5. Transaction with NCI: Rs -20.38

This represents cash transactions with non-controlling interests.

6. Repayment of Long-term and other borrowings: Rs -30.98

This represents the cash paid for repaying long-term and other borrowings.

7. Finance cost paid (net): Rs -127.79

This represents the net cash paid for finance costs.

8. Dividend Paid (Including dividend distribution tax): Rs -53.63

This represents the cash paid for dividends, including dividend distribution tax.

9. Net cash (used in)/from Financing Activities: Rs 757.4

This is the net cash inflow or outflow from financing activities.

Net Increase in Cash and Cash Equivalents (A+B+C):

2018:

Net Increase in Cash and Cash Equivalents (A+B+C): Rs 97.65

This is the net change in cash and cash equivalents resulting from operating, investing, and financing activities.

Cash and Cash Equivalents:

2018:

Cash and Cash Equivalents at the Beginning of the Year: Rs 419.74

Cash and Cash Equivalents at the End of the Year: Rs 517.39