Tata Technologies Annual Report | Balance Sheet for FY 2022-23

Tata Technologies Limited (Tata Tech) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Tata Technologies Limited

TATA Technologies Balance Sheet (In Rs. Crore)

Particulars	31st March 2023	31st March 2022	31st March 2021
Assets
Non-Current Assets
Property, Plant & Equipment	120.15	114.53	87.24
Capital Work in Progress	2.65	0.26	0.04
Right-of-use-asset	180.29	187.85	232.64
Goodwill	762.92	729.30	725.90
Other Intangible assets	31.96	36.22	44.03
Financial assets	43.70	44.26	21.91
Tax assets	182.60	87.74	64.94
Other non-current assets	79.75	37.66	8.54
Total Non-Current Assets	1404.02	1237.82	1185.24
Current Assets
Investments	29.78	527.68	497.08
Trade receivables	951.75	647.29	453.44
Cash and cash equivalent	382.82	768.26	781.33
Other bank balances	616.38	101.14	2.08
Loans	490.22	46.25	251.71
Other Financial assets	74.43	32.78	26.79
Current tax assets (net)	32.62	10.72	31.39
Other current assets	1065.00	725.19	201.38
Total Current Assets	3797.47	2980.20	2387.50
Total Assets	5201.49	4218.02	3572.74
Equity And Liabilities
Equity
Equity Share Capital	81.13	41.81	41.81
Other Equity	2908.32	2238.34	2100.36
Total Equity	2989.45	2280.15	2142.17
Liabilities
Non-Current Liabilities
Provisions	23.33	18.65	15.20
Financial Liabilities	215.30	223.51	233.21
Total Non-Current Liabilities	238.63	242.16	248.41
Current Liabilities
Trade Payables	657.81	336.63	223.66
Other Financial Liabilities	45.17	294.14	3.06
Provisions	33.91	30.69	11.91
Other Current Liabilities	1174.88	1012.65	907.22
Total Current Liabilities	1973.41	1695.71	1182.16
Total Liabilities	2212.04	1937.87	1430.57
Total Equity And Liabilities	5201.49	4218.02	3572.74

TATA Technologies Profit & Loss Statment (In Rs. Crore)

Particulars	2023	2022	2021
Revenue from Operations	4414.18	3529.57	2,380.91
Other income	87.74	48.80	44.83
Total Revenue	4501.92	3578.37	2,425.74
EBITDA	908.68	703.25	436.83
EBITDA margins	20.18%	19.65%	18.00%
Finance Cost	17.98	21.90	17.66
Depreciation	94.55	85.71	92.20
Other Expense	3593.24	2883.93	1995.20
Profit/Loss before Exceptional items and Tax	796.15	586.83	320.68
Exceptional items	-	-	5.41
Total Tax	172.12	149.86	76.09
Profit After Tax (PAT)	624.03	436.97	239.18
PAT Margin	13.86%	12.21%	9.86%
EPS (Basic & Diluted)	15.38	104.52	57.21

TATA Technologies Cash Flow Statement for the last three years (In Rs. Crore)

Particulars	31-Mar-2023	31-Mar-2022	31-Mar-2021

A. CASH FLOW FROM OPERATING ACTIVITIES
Profit for the year	624.03	436.97	239.18
Depreciation and amortisation	94.55	85.71	92.20
Export incentive written off	0.00	13.33	0
Provision for income tax	261.16	158.67	87.79
Provision for deferred tax	-89.04	(8.81)	(11.70)
Loss/(Profit) on sale of investments	-0.65	3.87	(6.30)
(Profit)/Loss on derecognition of right to use assets	-0.69	(0.64)	0
(Profit)/Loss on sale of tangible and intangible fixed assets	-0.06	(0.10)	0.28
Interest income	-41.48	(39.74)	(14.38)
Finance cost	17.98	21.90	17.66
Unrealised exchange loss / (gain)	0.03	(0.47)	0.25
Effect of exchange differences on translation of foreign currency cash & cash equivalent	-1.90	2.14	2.42
Allowances for expected credit loss (net)	-13.84	(3.31)	4.05
Change in fair value of investments	-0.02	(0.20)	5.96
Operating profit before working capital changes	863.45	669.32	417.41
Working capital adjustments
Decrease in trade receivables non-current	0.00	0	15.73
(Increase)/ Decrease in billed trade receivables current	-273.98	(209.05)	176.47
Decrease/ (Increase) in unbilled trade receivables current	-28.63	23.40	(43.94)
(Increase)/ Decrease in other current financial assets	-36.32	(7.14)	26.27
(Increase) in other current assets	-337.52	(523.46)	(92.02)
Decrease in non-current loans	0.04	0.30	0.18
(Increase) in current loans	-1.00	(2.15)	(0.15)
(Increase)/ Decrease in other non current assets	-38.27	(28.84)	0.91
Increase/ (Decrease) in trade payables	302.55	110.24	(29.87)
(Decrease)/ Increase in other financial liabilities non current	0.19	(0.12)	0.19
Increase/ (Decrease) in other financial liabilities current	-0.34	0.27	(42.66)
Increase in other liabilities	201.38	48.99	796.72
Increase in current provisions	3.06	18.75	1.65
(Decrease) in non-current provisions	-10.30	(11.15)	(3.45)
CASH GENERATED FROM OPERATIONS	644.31	89.36	1,223.44
Income taxes paid (net)	(242.92	(127.82)	(110.24)
NET CASH FLOW (USED IN)/GENERATED FROM OPERATING ACTIVITIES	401.39	(38.46)	1,113.20
B. CASH FLOW FROM INVESTING ACTIVITIES (Also refer note 42 (b))
Proceeds from sale of tangible and intangible fixed assets	0.44	0.50	0.99
Interest received on bank deposit and others	7.59	5.56	1.06
Deposits/restricted deposits with banks	-622.32	(99.06)	10.87
Payment for purchase of tangible and intangible fixed assets	-65.66	(63.38)	(14.73)
Proceeds from sale of equity shares	0.00	20.47	0
Inter corporate deposits placed	-1839.50	(1,481.00)	(1,124.50)
Inter corporate deposits refunded	1397.25	1,688.50	901.00
Interest received from inter corporate deposit/bonds	25.46	32.47	12.41
Purchase of mutual funds	-98.25	(567.47)	(491.98)
Proceeds from redemption of the debentures	0.00	5.00	0
Proceeds from sale of mutual funds	596.82	532.62	31.30
NET CASH FLOW GENERATED FROM/(USED IN) INVESTING ACTIVITIES	-487.43	74.21	(673.58)
C. CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from issue of shares including securities premium	-295.90	0	0.24
Interest paid	-0.06	(0.39)	(2.46)
Dividends paid (including dividend tax)	0.00	(0.25)	(0.31)
Expenditure on Buyback of shares	0.00	(0.13)	0
Repayment of lease liabilities	-50.89	-43.89	-41.85
NET CASH FLOW (USED IN) FINANCING ACTIVITIES	-346.87	(44.66)	(44.38)
NET (DECREASE)/INCREASE IN CASH & CASH EQUIVALENTS	-432.91	(8.91)	395.24
Cash & cash equivalents at the close of the year (Refer Note 13)	382.82	768.26	781.33
Cash & cash equivalents at the beginning of the year (Refer Note 13)	768.26	781.33	376.08
Less: Effect of exchange rate changes on cash and cash equivalents	-1.90	2.14	2.42
Add : Translation adjustment on cash & bank balances of foreign subsidiaries	45.57	3.85	10.69
Add : Translation adjustment on reserves of foreign subsidiaries	0.00	-5.87	1.74
	-432.91	(8.91)	395.24

Summary of the cash flow for TATA Technologies over the last three years:

1. Operating Activities:

- Profit for the year increased from Rs. 239.18 crore in 2021 to Rs. 436.97 crore in 2022 and further to Rs. 624.03 crore in 2023.

- Depreciation and amortization expenses remained relatively stable, ranging from Rs. 85.71 crore to Rs. 94.55 crore.

- Provision for income tax increased over the years, from Rs. 87.79 crore in 2021 to Rs. 261.16 crore in 2023.

- There were fluctuations in the provision for deferred tax, from a negative amount of Rs. 11.70 crore in 2021 to a positive amount of Rs. 89.04 crore in 2023.

- Interest income and finance costs showed fluctuations but remained relatively consistent.

- Overall, the net cash flow from operating activities increased from Rs. 1,113.20 crore in 2021 to Rs. 401.39 crore in 2023.

2. Investing Activities:

- Proceeds from the sale of tangible and intangible fixed assets remained relatively stable but low.

- There were fluctuations in interest received and deposits/restricted deposits with banks.

- The company made payments for the purchase of tangible and intangible fixed assets, with fluctuations in the amounts.

- There were significant inter corporate deposits placed and refunded.

- Investments in mutual funds showed fluctuations, with purchases and sales.

- Overall, the net cash flow from investing activities was negative, ranging from Rs. 74.21 crore to Rs. 487.43 crore.

3. Financing Activities:

- There were no significant proceeds from the issue of shares or securities premium, except for a negative amount of Rs. 295.90 crore in 2023.

- Interest paid and dividends paid showed fluctuations but remained relatively low.

- The company made repayments of lease liabilities.

- Overall, the net cash flow from financing activities was negative, ranging from Rs. 44.38 crore to Rs. 346.87 crore.

In conclusion, TATA Technologies generated positive cash flow from operating activities, had negative cash flow from investing activities, and negative cash flow from financing activities over the last three years.

TATA Technologies Dividend History

Particulars	2023	2022	2021	2020
Dividend (final + interim) (In Rs.)	12.30	-	-	-
Retained Earnings (In Rs. Crore)	2530.95	1916.66	1489.19	1247.51

TATA Technologies Recent Financial Performance

Strong fundamentals and a promising future are boosting the Share Prices of Tata Technologies.
Revenue from Operations of the company increased by 25.06% from Rs. 3529.57 Crore in FY 2022 to Rs. 4414.18 Crore in FY 2023.
EBITDA of the company increased by 29.21% from Rs. 703.25 Crore in FY 2022 to Rs. 908.68 Crore in FY 2023.
The finance cost of the company decreased by 17.89% from Rs. 21.90 Crore to Rs. 17.98 Crore.
Profit after Tax of the company increased by 42.80% from Rs. 436.97 Crore in FY 2022 to Rs. 624.03 Crore in FY 2023.
The Current Ratio of the company as of 31st March 2023 was 1.92.
The book value of the company as of 31st March 2023 was Rs. 715.06.