Bharat Nidhi Annual Report

Bharat Nidhi Limited (Bharat Nidhi) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Bharat Nidhi Limited

Bharat Nidhi Limited Balance Sheet (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
EQUITY AND LIABILITIES
Share Capital	286.97	290.07
Reserves and Surplus	412199.28	366048.62
Non Current Liabilities
Other Long Term Liabilities	-	69.09
Long Term Provisions	5.45	17.29
Current Liabilities
Dues to Micro and Small Enterprises Dues to Other Creditors	8.24	108.6
Other Current Liabilities	46.48	45
Short Term Provisions	0.07	2.11
Total	412546.49	366580.78
ASSETS
Non Current Assets
Property, Plant and Equipment	0.27	0.58
Non Current Investments	399204.91	353779.24
Deferred Tax Assets (Net)	1.44	4.92
Long Term Loans and Advances	447.32	481.97
Other Non Current Assets	-	2029.29
Current Assets
Trade Receivables	13.25	61.76
Cash and Bank Balances	12498.55	9981.54
Short Term Loans and Advances	1.36	25.18
Other Current Assets	379.39	216.3
Total	412546.49	366580.78

Bharat Nidhi Limited Profit & Loss Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Income
Income from Operations	1437.29	3344.56
Other Income	2219.15	2007.72
Total Income	3656.44	5352.28
Expenses
Purchase of Stock-in-Trade	1149.31	2614.68
Employee Benefits Expenses	33.6	63.14
Finance Costs	4.16	5.04
Depreciation	0.31	0.4
Other Expenses	696.87	911.18
Total Expenses	1884.25	3594.44
Profit before Exceptional Items and Tax	1772.19	1757.84
Exceptional Items - Expense/(Gain) (net)	-0.25	679.79
Profit Before Tax	1772.44	1078.05
Tax Expense :
Current Tax	434	253.96
Deferred Tax	3.48	-0.77
Income Tax of earlier years	-1.81	9.28
Total Tax Expense	435.67	262.47
Profit after Tax for the Year before share of Associates	1336.77	815.58
Add: Share in Profit/ (-) loss of Associates (net)	49113.58	-4835
Profit/ (-) Loss after tax for the year	50,450.35	-4,019.42
Pre-tax Profit from ordinary activities attributable to discontinued operations	26.58	-
Tax on above	6.69	-
Post-tax Profit from ordinary activities attributable to discontinued operations	19.89	-
Basic & Diluted earnings per share (in Rs.) :
continuing operations	1744.01	-138.57
Total profit for the year	1744.7	-138.57

Bharat Nidhi Limited Consolidated Cash Flow Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Cash Flow from Operating Activities:
Profit/ (-) Loss before Tax	1772.44	1078.06
Adjustments for :
Gain on Sale/Redemption of Current Investments	-19.84	-7.86
Gain on Sale/Redemption/Switch of Non Current Investments	-326.53	-559.25
Dividend Income on Non Current Investment	-980.17	-799.62
Interest Income from Fixed Deposits with Bank	-871.77	-619.11
Interest Income from Perpetual Bonds	-15.44	-15.44
Interest Income on Tax Free Bonds	-2.46	-2.46
Interest Income on Income Tax Refund	-	-3.62
Interest Expense on Income Tax	2.75	1.69
Depreciation on Fixed Assets	0.31	0.4
Provision Made/(Written back) for Gratuity (net of payment)	-10	2.21
Provision Made/(Written back) for Leave Encashment (net of payment)	-3.88	0.95
Provision made/(written back) for diminution in value of Investments	-0.25	-11.74
Operating profit before working capital changes	-454.84	-935.80
Adjustments for changes in working capital:
Increase/ (-)Decrease in Trade Payables	-100.36	-29.07
Increase/ (-)Decrease in Other Long Term Liabilities	-69.09	-1.38
Increase/ (-)Decrease in Other Current Liabilities	2.64	13.47
(-)Increase/ Decrease in Trade Receivables	48.5	6.69
(-)Increase/ Decrease in Short Term Loans & Advances	23.82	3.11
Cash generated from / (-)used in Operations	-549.32	-942.98
Taxes Paid (net of Refunds)	-400.29	-233.09
Net Cash flow from / (-)used in Operating Activities	-949.61	-1176.07
Cash Flow from Investing Activities:
Purchase of Non Current Investments	-870	-4465
Purchase of Equity Shares	-49.31	-313.4
Proceeds from Sale/Redemption of Non Current Investments	4009.56	3329.19
Proceeds from Sale of Equity shares	54.45	-
Proceeds from Sale/Redemption of Current Investments	889.84	585.98
Purchase of Fixed Assets(net)	-	-0.69
Dividend Income on Non Current Investment	980.17	799.62
Interest received on Non Current Investments (Tax Free Bonds)	2.46	2.46
Interest received on Perpetual Bonds	15.44	15.44
Interest received on Fixed Deposits	790.86	618.28
Maturity of Fixed Deposits with Bank	9833.93	12368.51
Deposited into Fixed Deposits with Bank	-10537.61	-11,781.02
Net Cash flow from / (-)used in Investing Activities	5,119.78	1,159.35
Cash Flow from Financing Activities:
Dividend Paid	-17.4	-17.4
Amount paid to Shareholders for buy back of own shares	-3476.27	-
Tax paid on buy back of shares	-809.11	-
Net Cash flow from / (-) used in Financing Activities	-4302.79	-17.4
Net Increase/ (-) Decrease in Cash and Cash Equivalents	-132.62	-34.12
Cash and Cash Equivalents at the Beginning of the Year	144.41	178.53
Cash and Cash Equivalents at the End of the Year	11.79	144.41
Closing Cash and Cash Equivalents Comprise:
Cash on hand	0.05	0.21
Cheques in hand	0.25	-
Balances with Scheduled Banks:
In Current Accounts	11.49	144.2
Total	11.79	144.41

Here is a summary of the Cash Flow Statement for the years 2024 and 2023:

Cash Flow from Operating Activities:

Profit before Tax: The company generated a pre-tax profit of ₹1,772.44 crore in FY 2024, compared to ₹1,078.06 crore in FY 2023, marking a substantial increase in earnings.

Adjustments for Non-Cash Items: Various income sources like gains on investments, dividends, and interest incomes are subtracted as they don’t involve cash inflows from operations. The depreciation of assets is added back because it is a non-cash expense.

Major reductions include significant dividend income (-₹980.17 crore) and interest income (-₹871.77 crore) from fixed deposits in FY 2024.

Operating Profit Before Working Capital Changes: After adjusting for the above factors, the operating profit shows a deficit of ₹454.84 crore for FY 2024, slightly improved from the loss of ₹935.80 crore in FY 2023.

Working Capital Adjustments: Changes in current liabilities, trade receivables, and loans also impact the cash flow. For instance, trade payables decreased by ₹100.36 crore, affecting cash outflow.

Net Cash from Operating Activities: After accounting for taxes paid (-₹400.29 crore), the net cash outflow from operating activities is ₹949.61 crore for FY 2024, compared to a larger outflow of ₹1,176.07 crore in FY 2023, showing some improvement.

Cash Flow from Investing Activities:

Investments: Significant activities include both purchases and sales of investments. For FY 2024, the company spent ₹870 crore on purchasing non-current investments, while the sale of investments brought in ₹4,009.56 crore.

Proceeds from Fixed Deposits: There was a major inflow from the maturity of fixed deposits with banks (₹9,833.93 crore) but also a large outflow for placing fresh deposits (-₹10,537.61 crore).

Interest and Dividend Income: The company earned ₹980.17 crore in dividends and also gained interest from bonds and fixed deposits, contributing to cash inflows.

Net Cash from Investing Activities: The net inflow for FY 2024 was ₹5,119.78 crore, significantly higher than the inflow of ₹1,159.35 crore in FY 2023, indicating stronger cash management through investments.

Cash Flow from Financing Activities:

Dividend and Buyback: A significant outflow in FY 2024 was due to a buyback of shares (₹3,476.27 crore), along with the associated tax payment on the buyback (-₹809.11 crore). Dividend payments remained consistent at ₹17.4 crore.

Net Cash from Financing Activities: This resulted in a major outflow of ₹4,302.79 crore in FY 2024 compared to a much smaller outflow of ₹17.4 crore in FY 2023.

Net Increase/Decrease in Cash and Cash Equivalents:

Overall, the net result from all activities is a decrease in cash and cash equivalents of ₹132.62 crore in FY 2024, compared to a smaller reduction of ₹34.12 crore in FY 2023. The company’s closing balance of cash and equivalents dropped from ₹144.41 crore at the beginning of FY 2024 to ₹11.79 crore by the end of the year.

Cash and Cash Equivalents at the End of the Year:

The final balance of cash and cash equivalents includes ₹11.49 crore held in current accounts and ₹0.05 crore in cash on hand, indicating a significant reduction from the previous year’s ending balance of ₹144.41 crore.

Financial Ratios of Bharat Nidhi Limited

Particulars	2024	2023
Current Ratio	235.29	66.05
Return on Equity Ratio	7.95%	4.56%
Trade receivables turnover ratio	38.32%	51.37%
Trade payables turnover ratio	23.83%	26.41%
Net capital turnover ratio	12.52%	29.20%
Net Profit Ratio	93.01%	24.39%
Return on capital employed	11.59%	5.89%
Return on Investments	7.10%	4.72%

Here is a summary of the financial and operational metrics for Bharat Nidhi Limited for the years 2024 and 2023:

Dividend History

Particulars	2024	2023
Dividend Per Share (in rs.)	0.6	0.6

Bharat Nidhi Limited Recent Financial Performance

Dividend per Share: The specific dividend per share figure for 2024 and 2023 is Rs. 0.6 and Rs. 0.6. Dividend per share represents the portion of a company 's earnings that is distributed to shareholders in the form of dividends. A higher dividend per share may indicate that the company is sharing more of its profits with shareholders.