Bihariji Ispat Annual Reports, Balance Sheet and Financials

Bihariji Isapt Udyog Limited Balance Sheet (Rs In Lakhs)

Bihariji Isapt Udyog Limited Profit & Loss Statement (Rs In Lakhs)

Bihariji Isapt Udyog Limited Consolidated Cash Flow Statement (Rs In Lakhs)

Certainly, here is a summary of the Cash Flow Statement for the years 2023 and 2022:

CASH FLOWS FROM OPERATING ACTIVITIES:

In 2023, the company reported a net profit before tax and extraordinary items of Rs.981,109.4, a significant improvement from the previous year 's loss of -Rs.8,160.26. Other comprehensive income amounted to Rs.182.59 in 2023. The adjustments made for operating activities included depreciation of Rs.1,350.6, prior period income of Rs.1,777.33, dividend received of -Rs.14.77, interest received of -Rs.25,278.17, impact of measuring investments at fair value of -Rs.182.59, interest paid of Rs.35,190.27, profit on the sale of fixed assets of -Rs.36,745.12, and bad debts of Rs.2,085.32. The operating profit before working capital changes in 2023 was Rs.959,474.87, whereas in 2022, it was Rs.10,691.18.

Adjustments for working capital changes in 2023 included trade and other receivables decreasing by -Rs.186,897.73, short-term provisions of -Rs.50.8, change in current assets of Rs.6,090.35, a significant decrease in inventories of -Rs.1,093,559.15, trade payables decreasing by -Rs.13,766.44, and other liabilities increasing by Rs.39,885.96. As a result, cash generated from operations in 2023 was -Rs.288,772.14, contrasting with the previous year 's Rs.13,114.99. Direct taxes paid (net) in 2023 were Rs.883.81, while in 2022, they were -Rs.3,823.47. The net cash from operating activities in 2023 was -Rs.287,888.33, whereas in 2022, it was Rs.9,291.52.

CASH FLOWS FROM INVESTING ACTIVITIES:

In 2023, the company engaged in various investing activities. These included a net purchase/sale of investments amounting to Rs.134,097.02, the sale of fixed assets worth Rs.36,000, an investment in fixed assets of -Rs.7,130.71, net loans given/received back of -Rs.489,417.93, interest received of Rs.25,278.17, and dividend received of Rs.14.77. The net cash flow from investing activities in 2023 was -Rs.301,158.68, while in 2022, it was Rs.84,204.36.

CASH FLOWS FROM FINANCING ACTIVITIES:

Financing activities in 2023 involved an increase in unsecured borrowings of Rs.612,838.49 and interest paid of -Rs.35,190.27. The net cash generated in financing activities in 2023 was Rs.577,648.2. In 2022, there was a decrease in unsecured borrowings of -Rs.72,056.14 and interest paid of -Rs.29,790.79. The net cash generated in financing activities in 2022 was Rs.101,846.92.

NET CHANGE IN CASH AND CASH EQUIVALENTS:

The net change in cash and cash equivalents in 2023 was -Rs.11,398.8, while in 2022, it was -Rs.8,351.04.

CASH AND CASH EQUIVALENTS:

The company had cash and cash equivalents amounting to Rs.11,973.39 as of 1st April (opening balance) in 2023, which decreased to Rs.574.59 by 31st March (closing balance). In 2022, the opening balance was Rs.20,324.44, and the closing balance was the same at Rs.11,973.39.

Below are the Financial Ratios

Here is a summary of the financial and operational metrics for Bihariji Isapt Udyog Limited 

Current Ratio:

In 2023, the current ratio improved to 2.65 from 1.94 in 2022, indicating a healthier liquidity position. This means the company has more current assets to cover its current liabilities.

Debt Equity Ratio:

The debt equity ratio increased to 0.55 in 2023 from 0.37 in 2022, suggesting a higher reliance on debt for financing compared to equity. This may imply increased financial leverage.

Debt Service Coverage Ratio:

In 2023, the debt service coverage ratio declined to 1.8 from 3.54 in 2022, indicating reduced ability to cover debt service obligations from operating income. This may raise concerns about the company 's ability to meet its debt payments.

Return on Equity Ratio:

The return on equity ratio improved significantly in 2023, reaching 16.53%. In contrast, it was in negative territory at -0.11% in 2022, indicating that the company is now more profitable in relation to its equity.

Inventory Turnover Ratio:

The inventory turnover ratio dropped to 0.5 in 2023 from 2.66 in 2022, suggesting that the company is selling its inventory at a slower rate, which might lead to excess inventory and potential carrying costs.

Trade Receivables Turnover Ratio:

In 2023, the trade receivables turnover ratio decreased to 2.49 from 5.55 in 2022, indicating that the company is taking longer to collect payments from its customers.

Trade Payables Turnover Ratio:

The trade payables turnover ratio also decreased to 8.05 in 2023 from 10.92 in 2022, suggesting that the company is taking longer to pay its suppliers, which may have implications for its relationships with vendors.

Net Capital Turnover Ratio:

In 2023, the net capital turnover ratio decreased to 0.27 from 2.47 in 2022, indicating a decrease in the efficiency of capital utilization.

Net Profit Ratio:

Bihariji Isapt Udyog Limited achieved a net profit ratio of 2.81% in 2023, a substantial improvement from the previous year when it was at -0.01%. This indicates a return to profitability.

Return on Capital Employed:

The return on capital employed improved to 0.72% in 2023 from -0.02% in 2022, suggesting a more efficient utilization of capital resources.