The Methoni Tea Annual Report | Balance Sheet

The Methoni Tea Company Limited (Methoni Tea) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
The Methoni Tea Company Limited

BALANCE SHEET OF THE METHONI TEA COMPANY LIMITED (In Rs. Lakhs)

PARTICULARS	31st March 2021	31st March 2020	31st March 2019
ASSETS
NON CURRENT ASSETS
Tangible assets	365.28	325.28	320.4
Financial assets	155.17	0.03	262.83
Tax assets	64.93	59.3	41.17
Other noncurrent assets	156.81	141.83	143.89
TOTAL NON-CURRENT ASSETS	742.20	526.44	768.29
CURRENT ASSETS
Inventories	131.39	123.63	148.83
Biological assets other than bearer plants	2.49	0	3.51
Financial assets	311.00	341	0
Trade receivables	12.24	31.04	0
Cash and cash equivalent	42.86	36.84	9.79
Other current assets	151.63	68.42	49.23
TOTAL CURRENT ASSETS	651.62	600.93	211.35
TOTAL ASSETS	1,393.82	1,127.38	979.64
EQUITY AND LIABILITIES
EQUITY
Equity Share Capital	40.80	40.8	40.8
Other Equity	573.21	402.17	367.65
TOTAL EQUITY	614.01	442.97	408.45
LIABILITIES
NON CURRENT LIABILITIES
Long term borrowings	0.00	0.38	4.71
Provisions	6.87	6.87	6.87
Other noncurrent liabilities	24.15	25.39	13.01
TOTAL NON CURRENT LIABILITIES	31.02	32.64	24.58
CURRENT LIABILITIES
Short term borrowings	246.85	207.26	82.64
Trade payables	98.20	101.61	153.54
Provisions	330.69	286.27	222.26
Other current liabilities	73.06	56.63	87.17
TOTAL CURRENT LIABILITIES	748.79	651.77	545.61
TOTAL LIABILITIES	779.81	684.4	570.19
TOTAL EQUITY AND LIABILITIES	1,393.82	1,127.38	978.64

PROFIT & LOSS STATEMENT OF THE METHONI TEA COMPANY LIMITED (In Rs. Lakhs)

Particulars	FY 2021	FY 2020	FY 2019	FY 2018
Revenue from Operations	1,964.55	1,769.95	1,563.33	1,468.39
EBITDA	190.95	-63.89	-89.03	-114.67
Finance Cost	16.57	18.26	3.99	20.24
Depreciation	49.46	49.27	53.49	36.08
Other Income	60.67	156.86	17.77	59.69
Profit Before Tax and Exceptional items	185.59	25.44	-128.73	-111.3
Exceptional items	0	0	0	16.81
Total Tax	1.97	-11.92	14.84	17.09
Profit After Tax (PAT)	183.62	37.36	-143.57	-145.2
Earnings Per Share (EPS) (In Rs.)	45.01	9.16	-35.19	-35.59

Methoni Tea Cash Flow Statement for the last three years (In Rs. Crore)

Particulars	31st March 2022	31st March 2021	31st March 2020
Cash Flow Summary
Cash and Cash Equivalents at Beginning of the year	0.43	0.37	0.1
Net Cash from Operating Activities	-23.61	1.77	-4.61
Net Profit before Tax & Extraordinary Items	2.17	1.86	0.25
Depreciation	0.32	0.49	0.49
Interest (Net)	-0.2	-0.22	0.13
P/L on Sales of Assets	0.04	-0.06	-0.02
P/L on Sales of Invest	-0.57	-0.02	-1.47
Others	0	-0.02	0.04
Total Adjustments (PBT & Extraordinary Items)	-0.41	0.17	-0.83
Op. Profit before Working Capital Changes	1.76	2.03	-0.57
Trade & 0th receivables	0.12	0.19	-0.31
Inventories	1.31	-0.08	0.25
Trade Payables	-0.96	-0.03	-0.52
Loans & Advances	-10.5	0.3	-3.41
Others	-15.34	-0.63	-0.05
Total (OP before Working Capital Changes)	-25.36	-0.26	-4.04
Cash Generated from/(used in) Operations	-23.61	1.77	-4.61
Cash Flow before Extraordinary Items	-23.61	1.77	-4.61
Net Cash Used in Investing Activities	19.42	-1.92	3.74
Purchased of Fixed Assets	0	-0.84	0
Sale of Fixed Assets	48.14	0	0
Capital Expenditure	0	0	-0.53
Purchase of Investments	-51.8	-3.46	-1.45
Sale of Investments	22.69	1.99	5.68
Interest Received	0.38	0.38	0.05
Net Cash Used in Financing Activities	4.71	0.21	1.14
Proceeds from Issue of shares (incl share premium)	7.6	0	0
Proceed from Short Tem Borrowings	0	0.4	1.25
Of the Long Tem Borrowings	0	0	-0.04
Of the short term Borrowings	-2.47	0	0
Dividend Paid	0	-0.01	-0.01
Interest Paid	-0.18	-0.17	-0.18
Others	-0.24	-0.01	0.12
Net Inc/(Dec) in Cash and Cash Equivalent	0.53	0.06	0.27
Cash and Cash Equivalents at End of the year	0.95	0.43	0.37

Summary of Methoni Tea Cash Flow Statement for the last three years (In Rs. Crore )

Operating Activities:

- Net Cash from Operating Activities: The company used cash in operating activities of -23.61 units on March 31, 2022, generated cash from operating activities of 1.77 units on March 31, 2021, and used cash in operating activities of -4.61 units on March 31, 2020.

Investing Activities:

- Net Cash Used in Investing Activities: The company used cash in investing activities of 19.42 units on March 31, 2022, had a net cash inflow of -1.92 units on March 31, 2021, and generated cash from investing activities of 3.74 units on March 31, 2020.

Financing Activities:

- Net Cash Used in Financing Activities: The company had a net cash inflow of 4.71 units on March 31, 2022, a net cash inflow of 0.21 units on March 31, 2021, and a net cash inflow of 1.14 units on March 31, 2020.

Cash and Cash Equivalents:

- Cash and Cash Equivalents at Beginning of the year: The company had cash and cash equivalents of 0.43 units on March 31, 2022, 0.37 units on March 31, 2021, and 0.10 units on March 31, 2020.

- Net Increase/(Decrease) in Cash and Cash Equivalents: The company had a net increase in cash and cash equivalents of 0.53 units on March 31, 2022, an increase of 0.06 units on March 31, 2021, and an increase of 0.27 units on March 31, 2020.

- Cash and Cash Equivalents at End of the year: The company had cash and cash equivalents of 0.95 units on March 31, 2022, 0.43 units on March 31, 2021, and 0.37 units on March 31, 2020.

Funds Flow Statement Of Methoni Tea Limited (Rs. In Crores)

Particulars	Mar-22	Mar-21	Mar-20	Mar-19	Mar-18
Sources of funds
Cash profit	45.66	2.31	0.86	0	6.49
Increase in equity	0.5	0	0	0	0.41
Increase in other networth	7.49	0	0	0.36	6.21
Increase in loan funds	0	0.38	1.33	0.18	0.89
Decrease in gross block	3.56	0	0	0	0
Decrease in investments	0	0	2.63	0	0
Decrease in working capital	0	0	0	2.14	0
Total Inflow	57.21	2.69	4.82	2.68	14
Application of funds
Cash loss	0	0	0	0.9	0
Decrease in networth	0	0.13	0.03	0	0
Decrease in loan funds	2.37	0	0	0	0
Increase in gross block	0	0.87	0.56	1.13	10.54
Increase in investments	29.61	1.55	0	0.65	1.98
Increase in working capital	25.22	0.13	4.25	0	1.47
Total Outflow	57.2	2.68	4.84	2.68	13.99

Key Finanacial Ratio Of Methoni Tea Limited (Rs. In Crores)

Particulars	31st March 2022	31st March 2021	31st March 2020
Key Ratios
Debt-Equity Ratio	0.04	0.43	0.35
Long Term Debt-Equity Ratio	0	0	0.01
Current Ratio	4.15	0.98	0.76
Turnover Ratios
Fixed Assets Turnover Ratio	0	0	1.59
Inventory Turnover Ratio	0	0	12.97
Debtors Turnover Ratio	0	0	114.19
Total Asset Turnover Ratio	0	0	2.95
Interest Cover Ratio	0	0	-5.89
PBIDTM (%)	0	0	-3.16
PBITM (%)	0	0	-5.93
PBDTM (%)	0	0	-4.18
CPM (%)	0	0	-3.56
APATM (%)	0	0	-6.33
ROCE (%)	1.46	-1.5	-11.57
RONW (%)	127.82	16.9	-15.07

DIVIDEND HISTORY

Particulars	2020	2019	2018
Dividend (final + interim) (In Rs.)	Nil	Nil	Nil
Retained Earnings (Consolidated) (In Rs. Lakhs)	-633.73	-671.10	-565.83

PERFORMANCE OF THE COMPANY

Revenue from Operations increased by 10.99% from Rs. 1,769.95 lakhs in FY 2020 to Rs. 1,964.55 lakhs in FY 2021.
EBITDA of the company incurred a loss of Rs. 63.89 lakhs in FY 2020. In FY 2021, the EBITDA of the company was a profit was of Rs. 190.95 lakhs.
The company earned a net profit of Rs. 183.62 lakhs in FY 2021 as against a profit of Rs. 37.36 lakhs in FY 2020, an increase of 391.49%.
Current Ratio of the company as of 31st March 2021 was 0.87. The company needs to improve its working capital management.
Debt to Equity ratio of the company as of 31st March 2021 was 0.40. Total debt on the company as of 31st March 2021 was Rs. 246.85 lakhs.
The company has not given any dividend from the past three years.
The book value per equity share of the company as of 31st March 2021 was Rs. 150.49.

Annual Report

The Methoni Tea Annual Report 2021-2022

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Methoni Tea Annual Report 2022-2023