A One Steels India Annual Reports, Balance Sheet and Financials

Aone Steels India Limited Consolidated Balance Sheet (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Non-Current Assets
Property, plant and equipment	44,035.95	34,642.23
Capital work-in-progress	8,738.30	4,699.53
Right-of-use assets	9,888.00	10,468.97
Goodwill	0.08	0.08
Other Intangible assets	40.03	58.25
Investments	6,175.59	4,978.72
Other financial assets	8,048.71	7,439.37
Non-current tax assets	163.93	164.22
Other non-current assets	1,928.82	2,426.96
Current Assets
Inventories	56,145.20	54,350.29
Trade receivables	48,408.28	32,092.29
Cash and cash equivalents	4,973.91	7,151.54
Bank balances other than cash	7,699.73	6,373.08
Loans	93.16	66.78
Other financial assets (current)	762.08	2,541.12
Current Tax Asset	421.68	46.53
Other current assets	42,063.70	29,889.83
Total Assets	2,39,587.15	1,97,389.79
Equity
Equity share capital	1,673.72	1,673.72
Other equity	42,343.08	36,424.73
Non-Controlling Interest	474.41	-
Non-Current Liabilities
Borrowings	25,094.45	23,653.15
Lease liabilities	11,104.17	11,285.90
Other financial liabilities	2,274.33	2,105.86
Provisions	401.44	235.99
Deferred tax liabilities	825.90	575.80
Other non-current liabilities	5,252.16	5,729.52
Current Liabilities
Borrowings	79,158.43	88,950.93
Lease liabilities	197.50	209.85
Trade payables
total outstanding dues of micro and small enterprises	603.92	439.70
total outstanding dues of creditors other than above	54,590.38	19,200.79
Other financial liabilities	953.35	1,219.80
Other current liabilities	14,190.36	5,302.63
Provisions	11.32	6.57
Current tax liabilities	438.23	374.85
Total Equity and Liabilities	2,39,587.15	1,97,389.79

Aone Steels India Limited Consolidated Profit & Loss Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Income
Revenue from operations	3,83,421.25	3,16,351.92
Other income	2,822.61	2,075.23
Total Income	3,86,243.86	3,18,427.15
Expenses
Cost of materials consumed	3,39,451.31	2,79,901.27
Changes in inventories	-9,228.94	-9,985.59
Employee benefit expense	4,082.17	3,131.89
Finance costs	9,729.84	7,069.70
Depreciation and amortisation	4,321.76	3,273.23
Other expenses	32,069.79	21,553.38
Total Expenses	3,80,425.93	3,04,943.88
Profit before tax	5,817.93	13,483.27
Current Tax	1,674.84	3,624.13
Deferred Tax charge/(benefit)	251.72	89.48
Profit after tax	3,891.37	9,769.66
Other comprehensive income
Items that will be reclassified to profit or loss:
Exchange differences on translating the Financial Information of a foreign operation	7.42	0.73
Items that will not be reclassified to profit or loss:
Remeasurement of defined benefit plans	-7.93	24.35
Income tax relating to these items	2.00	-6.13
Total other comprehensive income/(loss	1.49	18.95
Total comprehensive income/(loss) for the period/year	3,892.86	9,788.61
Total Profit/(loss) for the period/year attributable to :
Owners of the company	3,844.94	9,769.66
Non-controlling interests	46.43	-
Other comprehensive income/(loss) for the period/year attributable to
Owners of the company	1.49	18.95
Total comprehensive income/(loss) of the period/year attributable to:
Owners of the company	3,864.43	9,788.61
Non-controlling interests	46.43	-
Restated Basic and diluted earnings per share	6.64	16.68

Aone Steels India Limited Consolidated Cash Flow Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Cash Flow from Operating Activities
Profit before tax	5,817.93	13,483.27
Adjustments for:
Provision for employee benefits	162.78	119.14
Depreciation and amortisation expense	4,321.76	3,273.23
Allowances for credit losses on trade receivables	95.30	494.30
(Profit) on sale of property, plant and equipment	-5.05	-
Interest income	-1,781.03	-861.73
Finance costs	9,729.84	7,048.41
Operating profit before change in assets and liabilities	18,341.53	23,556.62
Adjustments for:
Inventories	-1,794.91	-24,968.59
Trade receivables	-16,411.29	-10,445.62
Loans Given to Employees	-26.38	-32.00
Other financial assets	1,761.16	-5,850.32
Other non financial assets	-12,324.17	-17,500.29
Trade payables	35,553.81	4,020.26
Other financial liabilities	-72.76	658.18
Other non financial liabilities	9,499.08	1,411.85
Cash generated from/(used in) operations	34,526.07	-29,149.89
Less: Income tax paid (net of refunds)	-1,986.32	-2,800.35
Net cash flow from operating activities	32,539.75	-31,950.24
Cash flows from Investing activities
Payments for purchase of PPE, intangible assets and CWIP	-16,752.17	-17,010.91
Net (increase)/decrease in Fixed Deposit	-1,522.20	-4,482.94
Net (increase)/decrease in Investments	-1,568.03	-3,476.84
Loan Given to Related Parties	-34.68	-
Proceeds from sale of PPE, intangible assets and CWIP	0.00	5.78
Interest income (Investing)	681.40	299.48
Net cash inflow from/(used in) investing activities	-19,149.00	-24,705.89
Cash flows from Investing activities
Repayments of borrowings	-22,096.98	-8,215.30
Proceeds from borrowings	13,020.26	74,579.49
Proceeds from issue of Equity Share Capital	2,500.00	0.00
Payment of lease liabilities	-194.08	-74.49
Payment of interest towards lease liability	-904.37	-960.36
Dividend paid	-0.10	0.00
Finance cost paid	-7,893.11	-5,654.70
Net cash inflow from/(used in) financing activities	-15,568.38	59,674.64
Net increase (decrease) in cash and cash equivalents	-2,177.63	3,018.51
Cash and cash equivalents at the beginning of the year	7,151.54	4,133.03
Cash and cash equivalents at the end of the year	4,973.91	7,151.54

Summary of the Cash Flow Statement for the years 2024 and 2023:

Operating Activities

For the year ended 31 March 2024, the company generated a net operating cash inflow of ₹32,539.75 lakh, which reflects a sharp reversal compared to the net outflow of ₹31,950.24 lakh in the previous year. The positive movement in 2024 was driven largely by an increase in trade payables of ₹35,553.81 lakh and other non-financial liabilities of ₹9,499.08 lakh. These inflows offset the strain caused by higher trade receivables of ₹16,411.29 lakh and advances or other non-financial assets amounting to ₹12,324.17 lakh. Depreciation and finance costs also contributed significantly to the operating result, underscoring the company’s asset-heavy structure and reliance on borrowings. In contrast, the previous year witnessed considerable working capital stress, as inventories rose sharply by ₹24,968.59 lakh and receivables by ₹10,445.62 lakh. These pressures caused a substantial operating cash outflow in 2023, even though operating profit before working capital changes was healthy.

Investing Activities

Investing activities remained negative in both 2024 and 2023, reflecting the company’s ongoing capital expenditure cycle. In 2024, net outflows stood at ₹19,149.00 lakh, primarily due to purchases of property, plant and equipment amounting to ₹16,752.17 lakh along with increased fixed deposits and investments. The company earned interest income of ₹681.40 lakh, which provided some relief but was insufficient to counterbalance the heavy spending on assets. In 2023, the outflow was even higher at ₹24,705.89 lakh, again driven by major capital expenditure and increased deposits. The pattern indicates a consistent strategy of reinvestment into capacity and infrastructure, pointing toward long-term growth ambitions.

Financing Activities

The financing cash flows present contrasting pictures across the two years. In 2024, there was a net outflow of ₹15,568.38 lakh. This was mainly caused by repayments of borrowings totaling ₹22,096.98 lakh and finance cost payments of ₹7,893.11 lakh. However, these outflows were partly mitigated by new borrowings of ₹13,020.26 lakh and the issue of fresh equity capital worth ₹2,500.00 lakh. On the other hand, in 2023, financing activities generated a massive inflow of ₹59,674.64 lakh. This was almost entirely due to borrowings of ₹74,579.49 lakh, which provided the liquidity needed to sustain both operating and investing outflows. The heavy financing reliance in 2023 highlights the company’s dependence on external funds, while the shift in 2024 reflects efforts to rebalance debt and strengthen operations.

Net Cash Position

The combined effect of these activities led to a net decrease in cash and cash equivalents of ₹2,177.63 lakh in 2024. Cash balances fell from ₹7,151.54 lakh at the beginning of the year to ₹4,973.91 lakh at year-end. This was in contrast to 2023, when the company reported a net increase of ₹3,018.51 lakh, with balances rising from ₹4,133.03 lakh to ₹7,151.54 lakh.

Financial Ratios of Aone Steels India And Produce Home Finance Limited

Particulars	31-03-2024	31-03-2023
Current ratio (times)	1.13	1.20
Debt equity ratio (times)	2.34	2.96
Debt service coverage ratio (times)	1.33	2.28
Return on equity ratio (%)	9.42	29.42
Return on capital employed ratio (%)	10.45	13.64
Net profit ratio (%)	1.01	3.09
Inventory turnover ratio Itimes)	5.98	6.45
Trade receivables turnover ratio (times)	9.53	11.59
Trade payables turnover ratio (times)	8.17	15.04
Net capital turnover ratio (times)	28.16	20.21

Summary of the financial ratios for A-One Steels India Limited for the year 2024 & 2023:

Current Ratio

The current ratio stood at 1.13 in March 2024 compared to 1.20 in March 2023. This indicates that the company’s short-term liquidity position has slightly weakened, with current assets covering current liabilities just above one time.

Debt Equity Ratio

The debt equity ratio improved from 2.96 in 2023 to 2.34 in 2024. This decline indicates that the company reduced its reliance on debt relative to equity, possibly due to repayments or fresh equity infusion.

Debt Service Coverage Ratio

The debt service coverage ratio decreased significantly from 2.28 in 2023 to 1.33 in 2024. This shows that the company’s ability to service its debt obligations has weakened, with cash earnings just about covering interest and principal repayments.

Return on Equity Ratio

Return on equity dropped sharply from 29.42% in 2023 to 9.42% in 2024. This steep fall points to lower profitability for shareholders in the latest year. The decline could be due to reduced net profits, higher equity base, or both.

Return on Capital Employed Ratio

The return on capital employed ratio fell from 13.64% in 2023 to 10.45% in 2024. This reduction shows that overall capital, including both debt and equity, generated lower returns during 2024.

Net Profit Ratio

The net profit ratio declined from 3.09% in 2023 to 1.01% in 2024. This indicates that the company earned much lower net profits relative to its revenue in 2024. The fall suggests rising costs, interest expenses, or reduced margins, which diluted profitability and signaled weaker operational performance.

Inventory Turnover Ratio

The inventory turnover ratio dropped from 6.45 in 2023 to 5.98 in 2024. This means the company sold and replaced its inventory fewer times during the year, pointing toward slower movement of goods.

Trade Receivables Turnover Ratio

The trade receivables turnover ratio fell from 11.59 in 2023 to 9.53 in 2024. This suggests that the company collected receivables more slowly than in the previous year. The lower ratio indicates reduced efficiency in credit management and possibly longer credit periods extended to customers.

Trade Payables Turnover Ratio

The trade payables turnover ratio decreased sharply from 15.04 in 2023 to 8.17 in 2024. This means the company took longer to pay its suppliers during 2024 compared to the prior year.

Net Capital Turnover Ratio

The net capital turnover ratio improved from 20.21 in 2023 to 28.16 in 2024. This indicates that the company generated significantly higher revenue per unit of capital employed in 2024.