Bolzen And Mutter Annual Reports, Balance Sheet and Financials

Bolzen And Mutter Limited Standalone Balance Sheet (Rs in Thousands)

Particulars	31-03-2023	31-03-2022
Shareholder 's Funds
Share Capital	23,300.00	10,000.00
Reserves & Surplus	-13,406.77	-16,878.19
Non-Current Liabilities
Long-Term Borrowings	7,667.91	24,741.20
Current Liabilities
Short-Term Borrowings	36,710.20	27,160.60
Trade Payables
Total outstanding dues of Creditors other  than micro & small enterprises	39,047.68	40,286.47
Other Current Liabilities	8,425.88	4,305.08
Short-Term Provisions	925.50	972.87
Total Equity & Liabilities	1,02,670.40	90,588.03
Non-Current Assets
Property, Plant & Equipment	29,073.42	27,584.46
Deferred Tax Assets (Net)	4,783.42	4,563.58
Long-Term Loans & Advances	411.80	405.00
Current Assets
Inventories	26,257.92	15,559.50
Trade Receivables	37,088.14	37,210.98
Cash & Cash Equivalents	0.52	29.02
Short-Term Loans & Advances	1,038.57	998.88
Other Current Assets	4,016.61	4,236.61
Total Assets	1,02,670.40	90,588.03

Bolzen And Mutter Limited Standalone Profit & Loss Statement (Rs in Thousands)

Particulars	31-03-2023	31-03-2022
Income
Revenue from Operations	1,85,627.94	1,59,108.74
Other Income	2,411.29	6,517.23
Total Income	1,88,039.23	1,65,625.97
Expenses
Cost of Materials Consumed	60,907.91	56,221.06
Purchases of Stock in Trade	66,029.28	60,194.12
Employee Benefits Expense	7,139.97	7,044.21
Finance Costs	5,741.63	4,829.33
Depreciation & Amortisation	7,134.97	5,843.70
Other Expenses	37,834.39	25,616.15
Total Expenses	1,84,788.15	1,59,748.57
Profit Before Tax	3,251.08	5,877.40
Deferred Tax	-220.34	2,185.24
Profit for the Year	3,471.42	3,692.16
Earnings per Share
Basic	1.49	3.69
Diluted	1.49	3.69

Bolzen And Mutter Limited Standalone Cash Flow Statement (Rs in Thousands)

Particulars	31-03-2023	31-03-2022
Cash Flow from Operating Activities
Profit Before Tax	3,251.08	5,877.40
Adjustments for:
Interest Income	-6.59	-4.84
Gain/Loss on Sale of PPE	-138.89	0.00
Interest Expense	5,741.63	4,829.33
Depreciation & Amortisation	7,134.97	5,843.70
Operating Profit before Working Capital Changes	15,982.20	16,545.59
Change in Trade Payables	-1,238.79	2,624.23
Change in Other Liabilities	4,120.80	0.00
Change in Provisions	-47.37	403.66
Change in Inventories	-10,698.42	-906.86
Change in Trade Receivables	122.84	-3,686.88
Change in Loans & Advances	137.32	-4,491.34
Change in Other Assets	220.00	1,686.31
Cash Generated from Operations	8,598.58	12,174.71
Income Taxes Paid	-183.31	0.00
Net Cash from Operating Activities	8,415.27	12,174.71
Cash Flow from Investing Activities
Purchase of PPE & Intangibles	-8,950.05	-7,412.21
Sale of PPE & Intangibles	465.01	0.00
Interest Received	6.59	4.84
Net Cash from Investing Activities	-8,478.45	-7,407.37
Cash Flow from Financing Activities
Proceeds from Share Capital	13,300.00	0.00
Repayment of Long-Term Borrowings	-17,073.29	-454.77
Proceeds from Short-Term Borrowings	9,549.60	0.00
Repayment of Short-Term Borrowings	-396.70	0.00
Interest Paid	-5,741.63	-4,829.33
Net Cash from Financing Activities	34.68	-5,680.80
Net Increase/Decrease in Cash	-28.50	-913.46
Opening Cash Balance	29.02	942.48
Closing Cash Balance	0.52	29.02

Summary of the Cash Flow Statement for the years 2023 and 2022:

Cash Flow from Operating Activities

The company generated a profit before tax of ₹3,251.08 thousand in FY 2023, lower than ₹5,877.40 thousand in FY 2022. After adjusting for non-cash and non-operating items — such as interest expense (₹5,741.63 thousand), depreciation and amortisation (₹7,134.97 thousand), and a small interest income (-₹6.59 thousand) — the operating profit before working capital changes stood at ₹15,982.20 thousand for FY 2023, compared to ₹16,545.59 thousand in FY 2022.

However, movements in working capital significantly affected cash generation. There was a large increase in inventories (-₹10,698.42 thousand) and a rise in other liabilities (+₹4,120.80 thousand). Trade receivables and advances showed marginal improvements, but the inventory buildup reduced available cash. Consequently, cash generated from operations dropped to ₹8,598.58 thousand in FY 2023 from ₹12,174.71 thousand in FY 2022. After paying income taxes of ₹183.31 thousand, the net cash from operating activities stood at ₹8,415.27 thousand for FY 2023, compared to ₹12,174.71 thousand in the previous year.

Cash Flow from Investing Activities

Investment activities show the company continued to spend on asset creation. Purchase of property, plant, and equipment amounted to ₹8,950.05 thousand in FY 2023, higher than ₹7,412.21 thousand in FY 2022. The company also generated ₹465.01 thousand from the sale of fixed assets, a new inflow compared to nil proceeds in FY 2022. Minor interest income of ₹6.59 thousand was received. As a result, the company reported a net cash outflow of ₹8,478.45 thousand from investing activities in FY 2023, compared with an outflow of ₹7,407.37 thousand in FY 2022.

Cash Flow from Financing Activities

The financing section reflects both fresh inflows and debt repayments. The company issued new share capital worth ₹13,300 thousand, indicating a significant equity infusion during FY 2023. At the same time, it repaid long-term borrowings of ₹17,073.29 thousand and incurred interest payments of ₹5,741.63 thousand. It also borrowed ₹9,549.60 thousand as short-term loans, with a small repayment of ₹396.70 thousand. After these movements, net cash from financing activities was slightly positive at ₹34.68 thousand, compared to a net outflow of ₹5,680.80 thousand in FY 2022.

Net Cash Movement

Combining all three sections, the company experienced a small net decrease in cash of ₹28.50 thousand during FY 2023, against a decrease of ₹913.46 thousand in FY 2022. The opening cash balance was ₹29.02 thousand, leaving a closing cash balance of ₹0.52 thousand at the end of the year.

Bolzen And Mutter Limited Financial Ratios:

Particulars	31-03-2023	31-03-2022
Current ratio	0.8	0.8
Debt-Equity ratio	4.49	-7.55
Debt Service coverage ratio	-1.42	4.16
Return on equity	230.27%	-42.32
Inventory turnover ratio	8.88	10.23
Trade receivables turnover ratio	5	4.28
Trade payables turnover ratio	4.15	3.53
Net capital turnover ratio	-11.11	-10.83
Net profit ratio	1.87%	2.32%
Return on capital employed	18.11%	23.84%

Summary of the financial ratio of Bolzen And Mutter & Identity Solution Limited for the years 2023 and 2022:

Current Ratio

The current ratio remained constant at 0.8 for both FY 2023 and FY 2022. This ratio measures the company’s ability to meet its short-term liabilities with its short-term assets.

Debt-Equity Ratio

The debt-equity ratio increased to 4.49 in FY 2023 from a negative -7.55 in FY 2022. This ratio compares the company’s total debt to shareholders’ equity and reflects the degree of financial leverage.

Debt Service Coverage Ratio (DSCR)

The debt service coverage ratio dropped sharply from 4.16 in FY 2022 to -1.42 in FY 2023. This ratio measures the company’s ability to cover its debt obligations (principal and interest) with its operating income.

Return on Equity (ROE)

The return on equity rose dramatically to 230.27% in FY 2023 from -42.32% in FY 2022. ROE indicates how effectively the company is using shareholders’ funds to generate profit.

Inventory Turnover Ratio

The inventory turnover ratio decreased to 8.88 in FY 2023 from 10.23 in FY 2022. This ratio shows how many times the company sold and replaced its inventory during the year. A lower turnover suggests that inventory levels increased or sales slowed down, leading to goods staying longer in storage.

Trade Receivables Turnover Ratio

The trade receivables turnover ratio improved to 5.00 in FY 2023 from 4.28 in FY 2022. This means the company collected its receivables more efficiently in 2023, converting credit sales into cash faster.

Trade Payables Turnover Ratio

The trade payables turnover ratio increased to 4.15 in FY 2023 from 3.53 in FY 2022. This indicates that the company settled its supplier dues more quickly than in the previous year.

Net Capital Turnover Ratio

The net capital turnover ratio remained negative, moving slightly from -10.83 in FY 2022 to -11.11 in FY 2023. This ratio measures the efficiency of using working capital to generate revenue.

Net Profit Ratio

The net profit ratio declined to 1.87% in FY 2023 from 2.32% in FY 2022. This shows a modest reduction in profitability relative to revenue. The drop may be attributed to higher financing costs, increased depreciation, or rising material expenses.

Return on Capital Employed (ROCE)

The return on capital employed decreased to 18.11% in FY 2023 from 23.84% in FY 2022. ROCE evaluates how efficiently the company uses its total capital (debt and equity) to generate earnings before interest and taxes.