Cable Corporation Annual Report

Cable Corporation of India Ltd (Cable Corporation) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Cable Corporation of India Ltd

Cable Corporation of India Limited Balance Sheet (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
EQUITY AND LIABILITIES
Share Capital	7,729	7,729
Reserves and Surplus	-4,545	-2,760
Other Long-term Liabilities	1,048	1,172
Long-term Provisions	176	177
Short-term Borrowings	6,612	5,743
Dues of Other Creditors	3,182	3,262
Other Current Liabilities	3,217	3,299
Short-term Provisions	86	72
TOTAL	17,505	18,694
ASSETS
Non-current Assets
Tangible Assets	2,923	3,448
Intangible Assets	3	4
Capital Work-in-Progress	109	109
Non-current Investments	5,735.00	5,735.00
Long-term Loans and Advances	937	992
Current Assets
Inventories	189	173
Trade Receivables	6,442	6,495
Cash and Bank Balances	398	82
Short-term Loans and Advances	766	1,656
Other Current Assets	3	-
TOTAL	17,505	18,694

Cable Corporation of India Limited Profit & Loss Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Revenue from operations	79.00	2,328.00
Other income	176	8
Total Revenue	255.00	2,336.00
Expenses:
Cost of Materials Consumed	-	55.00
Purchases of Stock in Trade	91.00	2,026.00
Changes in Inventories of Finished Goods, Work-in-Progress & Stock-in-Trade	-16	28
Employee Benefits Expenses	234	356
Finance Costs	177	288
Other Expenses	1,029	982
Depreciation	525	552
Total Expenses	2,040.00	4,287.00
Profit/(Loss) before exceptional and extraordinary items and tax	-1,785	-1,951
Exceptional items	-	-
Profit/(Loss) before extraordinary items and tax	-1,785	-1,951
Extraordinary Items	-	-
Profit/(Loss) before tax	-1,785	-1,951
Tax expense:
Current Tax	-	-
Profit/(Loss) for the year	-1,785	-1,951
Earnings per equity share (in Rs.):
Basic	-2.31	-2.52
Diluted	-2	-2.52

Cable Corporation of India Limited Consolidated Cash Flow Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
CASHFLOW FROM OPERATING ACTIVITIES
Profit/(Loss) Before Tax and Extraordinary Items	-1,785	-1,951
Adjustment for:
Depreciation	525	552
Interest Expenses	177	288
Profit/(Loss) on Sale of Assets (Net)	-	-
Interest Income	-5	-6
Total Adjustments	707	846
Operating Profit/(Loss) Before Working Capital Changes and Extraordinary Items	-1,078	-1,105
Adjustment for:
Trade and Other Receivables	998	1,367
Inventories	-16	83
Trade Payables	-166	816
Total Adjustments	372	1,078
Cash Generated from Operations	-262	-27
Direct Taxes Refund/(Paid)	-	-
Net Cash from Operating Activities	-262	-27
CASHFLOW FROM INVESTING ACTIVITIES
Interest Received	-8	-5
Net Cash Used in Investing Activities	-8	-5
CASHFLOW FROM FINANCING ACTIVITIES
From Short-term Borrowings	869	-702
Interest Paid	-283	-296
Net Cash Used in Financing Activities	586	-998
Net Cash Increase in Cash and Cash Equivalents	316	-1,030
Cash and Cash Equivalents as on 01-04-2023	82	1,112
Cash and Cash Equivalents as on 31-03-2024	398	82

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

Cash Flow from Operating Activities

Profit/(Loss) Before Tax and Extraordinary Items: Loss of ₹1,785 lakh in FY 2024, an improvement from ₹1,951 lakh in FY 2023.

Adjustments for Non-Cash and Non-Operating Items: Includes depreciation (₹525 lakh), interest expenses (₹177 lakh), and interest income deducted (₹5 lakh). These adjustments add back cash inflows or deduct non-operating inflows, resulting in a total adjustment of ₹707 lakh in FY 2024.

Operating Profit/(Loss) Before Working Capital Changes: After adjustments, the operating loss stood at ₹1,078 lakh in FY 2024 compared to ₹1,105 lakh in FY 2023.

Changes in Working Capital: Trade receivables decreased by ₹998 lakh, inventories reduced by ₹16 lakh, and trade payables decreased by ₹166 lakh. The net working capital adjustment was ₹372 lakh in FY 2024.

Cash Generated from Operations: After these adjustments, cash outflow was ₹262 lakh in FY 2024, slightly higher than ₹27 lakh in FY 2023.

Net Cash from Operating Activities: ₹262 lakh cash outflow in FY 2024 versus ₹27 lakh in FY 2023.

Cash Flow from Investing Activities

Interest Received: ₹8 lakh inflow in FY 2024 compared to ₹5 lakh in FY 2023.

Net Cash Used in Investing Activities: Minimal activity resulted in an outflow of ₹8 lakh in FY 2024 and ₹5 lakh in FY 2023.

Cash Flow from Financing Activities

From Short-Term Borrowings: ₹869 lakh inflow in FY 2024 compared to an outflow of ₹702 lakh in FY 2023.

Interest Paid: ₹283 lakh outflow in FY 2024 compared to ₹296 lakh in FY 2023.

Net Cash Used in Financing Activities: ₹586 lakh inflow in FY 2024, a significant improvement from ₹998 lakh outflow in FY 2023.

Net Cash Increase in Cash and Cash Equivalents

Net Increase: The net increase in cash and cash equivalents was ₹316 lakh in FY 2024 compared to a decrease of ₹1,030 lakh in FY 2023.

Cash Balances

Opening Balance: ₹82 lakh as on 1st April 2023.

Closing Balance: ₹398 lakh as on 31st March 2024.

Financial Ratios of Cable Corporation of India Limited

Particulars	2024	2023
Current Ratio	0.6	0.68
Debt – Equity Ratio	2.08	1.16
Debt Service Coverage Ratio	1.85	-1.11
Return on Equity Ratio	-0.56%	-0.39%
Inventory Turnover ratio	0.25	2.05
Trade receivables turnover ratio	0.01	0.37
Trade payables turnover ratio	0.03	0.54
Net capital turnover ratio	-0.02	-0.72
Net Profit Ratio	-22.59%	-0.84%
Return on capital employed	-0.37%	-0.26%
Return on investment	-0.56	-0.39

Here is a summary of the financial and operational metrics for Cable Corporation of India Limited for the years 2024 and 2023:

Current Ratio (0.6)

The current ratio has declined from 0.68 in 2023, indicating that the company’s ability to meet short-term obligations has weakened. A ratio below 1 reflects potential liquidity concerns, as current liabilities exceed current assets.

Debt-Equity Ratio (2.08)
The debt-equity ratio has increased significantly from 1.16 in 2023. This suggests a higher reliance on borrowed funds compared to equity, increasing financial risk and dependence on debt to finance operations.

Debt Service Coverage Ratio (1.85)
The ratio improved from a negative -1.11 in 2023 to 1.85 in 2024, indicating the company is better positioned to cover its debt obligations through operational earnings.

Return on Equity Ratio (-0.56%)
The return on equity worsened compared to -0.39% in 2023, reflecting that the company’s losses are eroding shareholders’ equity, leading to negative returns for investors.

Inventory Turnover Ratio (0.25)
The inventory turnover ratio dropped significantly from 2.05 in 2023, signaling inefficiencies in inventory management. This indicates slower movement of inventory, which could lead to higher holding costs or obsolete stock.

Trade Receivables Turnover Ratio (0.01)
A sharp decline from 0.37 in 2023 highlights poor collection efficiency and extended credit terms, suggesting challenges in converting receivables into cash.

Trade Payables Turnover Ratio (0.03)
The decline from 0.54 in 2023 suggests delayed payments to creditors, potentially straining supplier relationships.

Net Capital Turnover Ratio (-0.02)
Though slightly improved from -0.72 in 2023, the ratio remains negative, indicating that the company is not effectively utilizing its net working capital to generate revenue.

Net Profit Ratio (-22.59%)
The net profit ratio worsened drastically from -0.84% in 2023 to -22.59% in 2024. This indicates severe profitability challenges and high operational inefficiencies.

Return on Capital Employed (-0.37%)
A decline from -0.26% in 2023 suggests lower returns from total capital employed, highlighting inefficiencies in utilizing both debt and equity to generate earnings.

Return on Investment (-0.56)
The return on investment has deteriorated from -0.39 in 2023, showing that investments are yielding negative returns, further signaling poor financial performance.