Bofa Securities Annual Report | Balance Sheet

Bofa Securities India Limited (DSP Merrill Lynch) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
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Bofa Securities India Limited

BofA Securities India Limited Balance Sheet (Rs in Millions)

Particulars	31-03-2024	31-03-2023
Financial Assets
Cash and cash equivalents	31,846	25,789
Bank balance other than cash and cash equivalents	14,995	20,841
Trade Receivables	26,377	178
Other Receivables	101	102
Other financial assets	17,349	431
Non-Financial Assets
Current Tax assets (net)	1,424	1,320
Deferred tax assets (net)	334	306
Property, Plant and equipment	300	320
Capital work in progress	22	59
Intangible assets under development	1	-
Intangible assets	7	12
Right of use assets	725	882
Other non-financial assets	77	85
Total Assets	93,558	50,325
Financial Liabilities
Trade Payables
Total outstanding dues of micro enterprises and small enterprises	1	-
Total outstanding dues of creditors other than micro enterprises and small enterprises	26,345	280
Other Payables	228	211
Lease liabilities	850	987
Other financial liabilities	23,940	12,916
Non-Financial Liabilities
Provisions	466	456
Other non-financial liabilities	528	121
Equity
Equity share capital	232	232
Other equity	40,968	35,122
Total liabilities and Equity	93,558	50,325

BofA Securities India Limited Profit & Loss Statement (Rs in Millions)

Particulars	31-03-2024	31-03-2023
Income
Revenue from operations	9,201	6,043
Other income	2,636	1,777
Total income	11,837	7,820
Expenses
Finance costs	56	65
Fees and Commission expenses	254	176
Employee benefit expenses	2,293	2,241
Depreciation, amortisation and impairment	329	320
Other expenses	1,210	1,059
Total Expenses	4,142	3,861
Profit Before tax	7,695	3,959
Current tax	1,989	1,041
Provision for tax for earlier years (net)	-2	91
Deferred tax	-32	-26
Profit for the year	5,740	2,853
Other comprehensive income
Remeasurement (loss)/gain on net defined benefit plans	17	-7
Income tax relating to above	-4	2
Other comprehensive income for the year	13	-5
Total comprehensive income for the year	5,753	2,848
Earnings per share
Basic and Diluted	248	123

BofA Securities India Limited Cash Flow Statement (Rs in Millions)

Particulars	31-03-2024	31-03-2023
Cash flows from used in operating activities
Profit before tax	7,695	3,959
Adjustments for:
Interest income on bank deposits	-2,555	-1,709
Depreciation, amortization and impairment	329	320
Gratuity	1	1
Compensated absences	25	71
Finance costs	56	65
Equity settled share-based expense	320	220
Operating profit before changes in operating assets and liabilities	5,871	2,927
Adjusted for:
Decrease/ (Increase) in other bank balances	4,397	-1,742
(Increase) / Decrease in trade receivables	-26,198	1,690
Decrease in other receivables	1	75
Increase in other Right-of-use assets	-64	-
(Increase) / Decrease in other financial assets	-16,902	142
Decrease / (Increase) in other non-financial assets	7	-67
Increase / (Decrease) in trade payables	26,065	-451
Increase / (Decrease) in other payables	17	-35
Increase in lease liabilities	62	-
Increase / (Decrease) in other financial liabilities	11,024	-4,241
Increase / (Decrease) in other non-financial liabilities	407	-215
Cash generated from/ (used in) operating activities	4,687	-1,917
Direct taxes (paid), net	-2,090	-1,114
Net cash generated from/ (used in) operating activities	2,597	-3,031
Cash flows from investing activities
Placement of bank deposits	-46,977	-39,634
Proceeds from bank deposit	48,425	41,742
Interest received on investment in bank deposits	2,541	1,641
Purchase of property, plant and equipment including movement in capital work in progress	-47	-92
Purchase of intangible assets	-	-2
Net cash generated from investing activities	3,942	3,655
Cash flows from financing activities
Repayment of Lease Liability	-199	-188
Interest expense on lease liabilities	-56	-66
Equity - settled share-based payment recharged	-227	-210
Net cash used in financing activities	-482	-464
Net Increase in cash and cash equivalents	6,057	160
Cash and cash equivalents as at the beginning of the year	25,789	25,629
Cash and cash equivalents as at the end of the year	31,846	25,789
Net Increase in cash and cash equivalents	6,057	160

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

Operating Activities: The company saw a significant increase in profit before tax, rising from Rs. 3,959 million in 2023 to Rs. 7,695 million in 2024. This improvement in profitability was complemented by adjustments for non-cash items and finance costs. Operating profit before changes in operating assets and liabilities amounted to Rs. 5,871 million, up from Rs. 2,927 million the previous year. Notably, there was a substantial increase in other bank balances by Rs. 4,397 million, a stark contrast to the decrease of Rs. 1,742 million in the prior year. Conversely, there was a significant increase in trade receivables of Rs. 26,198 million, compared to an increase of Rs. 1,690 million in 2023, indicating that cash collection from customers slowed down. The company also experienced increases in trade payables and other financial liabilities, which contributed positively to cash flow. Despite these positive changes, the cash generated from operating activities was Rs. 4,687 million, which was notably higher than the negative Rs. 1,917 million in 2023. After accounting for direct taxes paid, net cash from operating activities was Rs. 2,597 million, a considerable improvement from the negative Rs. 3,031 million in the previous year.

Investing Activities: Cash flow from investing activities was positive at Rs. 3,942 million, an increase from Rs. 3,655 million in 2023. This positive cash flow was driven by the proceeds from bank deposits (Rs. 48,425 million) surpassing the placement of new bank deposits (Rs. 46,977 million). Interest received on investments also rose to Rs. 2,541 million. The company made minor investments in property, plant, and equipment, and intangible assets, reflecting relatively stable capital expenditure. Overall, the positive net cash flow indicates effective management of investment activities, with more cash inflow compared to the previous year.

Financing Activities: The company used Rs. 482 million in financing activities, slightly higher than the Rs. 464 million used in 2023. This outflow was due to the repayment of lease liabilities, interest expenses on lease liabilities, and equity-settled share-based payments. Despite the consistent use of cash in financing activities, the net impact was manageable within the broader context of the company’s overall cash position.

Overall Cash Flow: The net increase in cash and cash equivalents for the year was Rs. 6,057 million, a significant improvement from the modest increase of Rs. 160 million in 2023. Cash and cash equivalents at the end of the year rose to Rs. 31,846 million, up from Rs. 25,789 million.

Bofa Securities Annual Reports, Balance Sheet and Financials

Bofa Securities India Limited (DSP Merrill Lynch) Return Comparision with Primex 40 Index

BofA Securities India Limited Balance Sheet (Rs in Millions)

BofA Securities India Limited Profit & Loss Statement (Rs in Millions)

BofA Securities India Limited Cash Flow Statement (Rs in Millions)

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