Bolzen And Mutter Annual Reports, Balance Sheet and Financials

Bolzen And Mutter Limited Balance Sheet (Rs in Thousands)

Particulars	31-03-2025	31-03-2024
Shareholder 's Funds
Share Capital	24,461.94	24,461.94
Reserves & Surplus	60,379.99	23,858.18
Non-Current Liabilities
Long-Term Borrowings	99,020.51	23,982.18
Current Liabilities
Short-Term Borrowings	92,136.71	43,913.41
Trade Payables
Total outstanding dues of micro and small enterprises	37,840.36	9,961.86
Total outstanding dues of Creditors other  than micro & small enterprises	10,701.74	15,819.56
Other Current Liabilities	10,645.80	1,997.22
Short-Term Provisions	20,870.90	8,721.03
Total Equity & Liabilities	356,057.95	152,715.38
Non-Current Assets
Property, Plant & Equipment	104,526.36	52,933.75
Non-current investments	12,665.28	-
Deferred Tax Assets (Net)	2,389.10	493.08
Long-Term Loans & Advances	2,194.00	-
Other non-current assets	4,127.71	1,455.30
Current Assets
Inventories	71,748.97	47,480.50
Trade Receivables	64,301.71	45,456.84
Cash & Cash Equivalents	35,004.07	1,862.02
Short-Term Loans & Advances	55,061.39	2,907.71
Other Current Assets	4,039.36	126.18
Total Assets	356,057.95	152,715.38

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

Particulars	31-03-2025	31-03-2024
Income
Revenue from Operations	7,85,734.52	3,65,424.26
Other Income	9,040.94	538.72
Total Income	7,94,775.46	3,65,962.98
Expenses
Cost of Materials Consumed	5,93,872.08	2,37,450.23
Employee Benefits Expense	34,442.52	12,608.14
Finance Costs	8,998.12	7,513.04
Depreciation & Amortisation	11,732.70	7,240.33
Other Expenses	95,913.95	68,858.79
Total Expenses	7,44,959.37	3,33,670.53
Profit Before Tax	49,816.09	32,292.45
Current Tax	14,550.00	5,610.00
Net Adjustments related to earlier years	640.31	-
Deferred Tax	(1,896.03)	4,290.34
Profit for the Year	36,521.81	22,392.11
Earnings per Share
Basic	14.93	9.15
Diluted	14.93	9.15

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

Particulars	31-03-2025	31-03-2024
Cash Flow from Operating Activities
Profit Before Tax	49,816.09	32,292.45
Adjustments for:
Interest Income	(271.27)	(23.94)
Interest Expense	8,998.12	7,513.04
Depreciation & Amortisation	11,732.70	7,240.33
Operating Profit before Working Capital Changes	70,275.64	47,021.88
Increase / (Decrease) in Trade Payables	22,760.68	(13,343.15)
Increase / (Decrease) in Other Liabilities	8,648.58	(6,116.61)
Increase / (Decrease) in Provisions	3,209.87	2,185.53
Decrease/ (Increase) in Inventories	(24,268.47)	(21,222.58)
Decrease/ (Increase) in Trade Receivables	(18,844.87)	(8,383.91)
Decrease/ (Increase) in Loans & Advances	(48,902.55)	(260.87)
Decrease/ (Increase) in Other Assets	(6,585.59)	1,966.78
Cash Generated from Operations	6,293.29	1,847.07
Income Taxes Paid	(11,695.44)	(72.98)
Net Cash from Operating Activities	(5,402.15)	1,774.09
Cash Flow from Investing Activities
Purchase of PPE & Intangibles	(65,614.39)	(31,100.66)
Sale of PPE & Intangibles	2,289.09	(0.01)
Purchase of Non-current investments	(12,665.28)	-
Interest Received	271.27	23.94
Net Cash from Investing Activities	(75,719.31)	(31,076.73)
Cash Flow from Financing Activities
Proceeds from Share Capital	-	16,034.77
Proceeds of Long-Term Borrowings	75.038.33	10.821.30
Proceeds from Short-Term Borrowings	48,223.30	11,821.10
Interest Paid	(8,998.12)	(7,513.04)
Net Cash from Financing Activities	1,14,263.51	31,164.13
Net Increase/Decrease in Cash & Cash Equivalents	33,142.05	1,861.49
Opening Cash Balance	1,862.02	0.53
Closing Cash Balance	35,004.07	1,862.02

Summary of the Cash Flow Statement for the years 2025 and 2024:

Cash Flow from Operating Activities

The operating activities resulted in a net cash outflow of ₹5,402 thousand in 2025, compared to an inflow of ₹1,774 thousand in 2024. Although profit before tax increased to ₹49,816 thousand from ₹32,292 thousand, and operating profit before working capital changes rose to ₹70,276 thousand, this was offset by significant increases in working capital requirements. Major cash outflows arose from higher inventories (₹24,268 thousand), trade receivables (₹18,845 thousand), loans and advances (₹48,903 thousand), and other assets (₹6,586 thousand). Additionally, income tax paid increased substantially to ₹11,695 thousand, leading to negative net operating cash flow despite improved profitability.

Cash Flow from Investing Activities

Investing activities resulted in a net cash outflow of ₹75,719 thousand in 2025, significantly higher than ₹31,077 thousand in 2024. The major outflow was due to the purchase of property, plant, equipment, and intangibles amounting to ₹65,614 thousand, indicating heavy capital expenditure. Further investments of ₹12,665 thousand were made in non-current investments. These outflows were partially offset by proceeds from sale of assets of ₹2,289 thousand and interest income of ₹271 thousand. The increased investment outflow reflects the company’s focus on expansion and long-term asset creation.

Cash Flow from Financing Activities

Financing activities generated a net cash inflow of ₹114,264 thousand in 2025, compared to ₹31,164 thousand in 2024. The inflow was mainly due to proceeds from long-term borrowings of ₹75,038 thousand and short-term borrowings of ₹48,223 thousand. No fresh equity was issued during the year, unlike the previous year which saw share capital proceeds of ₹16,035 thousand. Interest payments of ₹8,998 thousand resulted in cash outflow. Overall, financing activities were the primary source of liquidity during the year.

Net Change in Cash and Cash Equivalents

Due to strong financing inflows, the company reported a net increase in cash and cash equivalents of ₹33,142 thousand in 2025, compared to ₹1,861 thousand in 2024. The closing cash balance increased substantially to ₹35,004 thousand from ₹1,862 thousand at the beginning of the year, indicating improved cash availability despite negative operating cash flows.

Bolzen And Mutter Limited Financial Ratios:

Particulars	31-03-2025	31-03-2024
Current ratio	1.34	1.22
Debt-Equity ratio	2.25	1.41
Debt Service coverage ratio	7.84	6.26
Return on equity	54.85%	128.27%
Inventory turnover ratio	13.18	15.39
Trade receivables turnover ratio	14.32	16.08
Trade payables turnover ratio	18.56	23.76
Net capital turnover ratio	20.85	41.95
Net profit ratio	4.65%	6.13%
Return on capital employed	29.99%	77.44%

Summary of the financial ratio of Bolzen­­­­ And Mutter & Identity Solution Limited for the years 2025 and 2024:

Current Ratio:
The current ratio increased from 1.22 in 2024 to 1.34 in 2025, indicating an improvement in the company’s short-term liquidity position. The company is better placed to meet its current obligations, though the ratio remains below the ideal level.

Debt-Equity Ratio:

The debt-equity ratio rose from 1.41 to 2.25, showing increased reliance on borrowed funds. This reflects higher financial leverage and increased financial risk for the company.

Debt Service Coverage Ratio:

The DSCR improved from 6.26 to 7.84, indicating a strong ability to service debt obligations from operating profits. Despite higher debt levels, the company’s repayment capacity remains comfortable.

Return on Equity:

ROE declined from 128.27% to 54.85%, reflecting reduced returns to equity shareholders. The decline indicates lower profitability and reduced efficiency in using shareholders’ funds.

Inventory Turnover Ratio:

The inventory turnover ratio decreased from 15.39 to 13.18, indicating slower movement of inventory. This reflects slightly weaker inventory management efficiency.

Trade Receivables Turnover Ratio:

The receivables turnover ratio declined from 16.08 to 14.32, indicating slower collection from customers. This may impact the company’s cash flow position.

Trade Payables Turnover Ratio:

The payables turnover ratio reduced from 23.76 to 18.56, indicating longer payment periods to suppliers. This suggests improved short-term cash management but may affect supplier relations.

Net Capital Turnover Ratio:

The net capital turnover ratio fell from 41.95 to 20.85, indicating reduced efficiency in utilizing working capital to generate sales.

Net Profit Ratio:

The net profit ratio declined from 6.13% to 4.65%, reflecting reduced profitability and tighter operating margins.

Return on Capital Employed:

ROCE decreased from 77.44% to 29.99%, indicating a significant decline in returns generated from total capital employed and lower operational efficiency.