Axles India Annual Reports, Balance Sheet and Financials

Particular

31-03-2024

31-03-2023

ASSETS

Non-current assets

Property, plant and equipment

62.5

59.12

Right-of-use assets

-

0.01

Capital work-in-progress

7.59

0.86

Intangible assets

0.31

0.38

Financial assets

Investments

2.01

0.5

Other financial assets

3.52

2.49

Current tax assets (net)

1.86

1.88

Deferred tax assets (Net)

0.3

-

Other non-current assets

10.08

3.96

Total non-current assets

88.17

69.2

Current Assets

Inventories

209.83

123.36

Financial Assets

Trade Receivables

202.58

215.02

Cash and cash equivalents

10.28

5.71

Bank balances other than above

0.22

0.17

Loans

0.54

0.51

Other financial assets

-

0.04

Other current assets

7.04

2.45

Total current assets

430.49

347.26

Total assets

518.66

416.46

EQUITY AND LIABILITIES

Equity

Equity share capital

25.49

25.49

Other Equity

Reserves and surplus

249.53

186.55

Other Reserves

-

-0.91

Total equity

275.02

211.13

LIABILITIES

Non-current liabilities

Borrowings

8.79

0.09

Employee benefit obligations

0.27

0.07

Deferred tax liabilities (Net)

-

0.5

Other non-current liabilities

8.62

9.58

Total non-current liabilities

17.68

10.24

Current Liabilities

Borrowings

73.67

53.61

Lease liabilities

-

0.05

Total outstanding dues of micro and small enterprises

6.46

9.78

Total outstanding dues of creditors other than micro and small enterprises

115.46

102

Other financial liabilities

7.53

9.17

Provisions

11.37

9.38

Employee benefit obligations

4.86

4.09

Other current liabilities

6.61

7.01

Total current liabilities

225.96

195.09

Total liabilities

243.64

205.33

Total equity and liabilities

518.66

416.46

Particular

31-03-2024

31-03-2023

REVENUE

Revenue from operations

853.88

746.35

Other income

0.38

1.19

Other gains/(losses)

0.84

-1.61

Total income

855.1

745.93

EXPENSES

Cost of materials consumed

575.95

478.39

Changes in inventories of work-in-progress and finished goods

-87.1

-0.99

Employee benefit expenses

86.73

73.43

Depreciation and amortisation expenses

13.4

11.68

Other expenses

149.29

111.21

Finance costs

1.34

1.48

Total expenses

739.61

675.2

Profit before tax

115.49

70.73

Income tax expense / (income)

Current Tax

30.33

18.85

Deferred Tax

-1.11

-0.76

Total tax expense

29.22

18.09

Profit for the year

86.27

52.64

Other comprehensive income

Items that may be reclassified to profit or loss:

Net gain/(loss) on cash flow hedges

1.22

-8.8

Income tax relating to above item

-0.31

2.22

Items that will not be reclassified to profit or loss:

Remeasurement of post-employment benefit

-0.45

-0.2

obligations

Income tax relating to above item

0.11

0.05

Other comprehensive income for the year, net of tax

0.57

-6.73

Total Comprehensive Income for the year

86.84

45.91

Earnings per equity share:

Basic and Diluted earnings per share (in INR)

33.85

20.66

Particular

31-03-2024

31-03-2023

Cash flow from operating activities:

Profit before income-tax

115.49

70.73

Adjustments for:

Interest and other finance cost

1.34

1.47

Interest expense on lease liability

-

0.01

Net exchange differences

-0.24

0.73

Depreciation and amortisation expense

13.4

11.68

Gain on disposal of property, plant and equipment

-

-0.08

Interest income

-0.38

-1.19

Operating profit before working capital changes

129.61

83.35

Changes in working capital:

(Increase) / decrease in trade receivables

12.71

-41.08

(Increase) / decrease in current and non-current loans

-0.03

0.06

(Increase) / decrease in other financial assets

-1.03

0.43

(Increase) / decrease in current and non-current assets

-4.59

-0.15

(Increase) / decrease in inventories

-86.47

-19.6

Increase / (decrease) in trade payables

10.13

8.43

Increase / (decrease) in other financial liabilities

0.54

0.83

Increase / (decrease) in provisions

1.99

-0.12

Increase / (decrease) in employee benefit obligation

0.52

0.07

Increase / (decrease) in other liabilities

-1.4

4.32

Cash generated from operations

61.98

36.54

Income tax paid

-30.2

-18.76

Net cash inflow from operating activities

31.78

17.78

Cash flow from investing activities:

Payments for property, plant and equipment (including capitalized borrowing cost)

-30.46

-13.49

Proceeds from sale of property, plant and equipment

-

0.09

Interest received

0.38

1.19

Payment for acquisition of investment

-1.51

-

Net cash outflow from investing activities

-31.59

-12.21

Cash flow from financing activities:

Proceeds/(Repayment) of short-term borrowings (net)

16.46

-5.15

Proceeds from long term borrowings

12.21

0.09

Principal repayments related to lease liabilities

-0.05

-0.07

Interest payments related to lease liabilities

-

-0.01

Interest paid

-1.3

-1.25

Dividends paid to Company 's shareholders

-22.94

-10.19

Net cash outflow from financing activities

4.38

-16.58

Net decrease in cash and cash equivalents

4.57

-11.01

Cash and cash equivalents at the beginning of the year

5.71

16.72

Cash and cash equivalents at the end of the year

10.28

5.71

Particular

31-03-2024

31-03-2023

Current ratio (times)

1.91

1.78

Debt-equity ratio (times)

0.3

0.25

Debt service coverage ratio

1.21

1.2

Return on equity ratio

35%

27%

Inventory turnover ratio (times)

4.07

6.05

Trade receivable turnover ratio (times)

4.22

3.84

Trade payables turnover ratio (times)

4.7

4.6

Net capital turnover ratio (times)

4.17

4.91

Net profit ratio

10%

7%

Return on capital employed

33%

28%

Return on investment

23%

17%