Cochin Plantations Annual Reports, Revenue and Financials

The Cochin Plantations Limited Balance Sheet (Rs in Thousands)

Particulars	31-03-2024	31-03-2023
Equity and Liabilities
Share Capital	930	930
Reserves and Surplus	-10,347.89	-16,996.27
Non-Current Liabilities
Long-Term Borrowings	26,750	26,750
Long-Term Provisions	3,436.39	2,995.43
Current liabilities
Other Current Liabilities	1,171.97	1,074.19
Short-Term Provisions	1,467.63	1,214.1
Total Equity and Liabilities	23,408.1	15,967.45
Assets
Non-Current Assets
Tangible Assets	8,914.09	8,288.64
Tangible Assets Capital Work-in-Progress	-	648.12
Other Non-Current Assets	49	49
Current Assets
Inventories	9,314.02	6,567.21
Trade Receivables	-	0.1
Cash and Bank Balances	5,082.79	369.79
Short-Term Loans and Advances	48.2	44.59
Total Assets	23,408.1	15,967.45

 Cochin Plantations Limited Profit & Loss Statement (Rs in Thousands)

Particulars	31-03-2023/31-03-2024	31-03-2022/31-03-2023
Revenue from Operations
Revenue from Sale of Products	19,138.31	13,411.89
Other Income	13.18	0.25
Total Revenue	19,151.49	13,412.14
Expenses
Changes in Inventories of Finished goods, WIP and Stock in Trade	-3,913.79	405.88
Employee Benefit Expense	12,091.43	9,635.93
Depreciation Expense	25.69	29.7
Other Expenses	4,299.78	3,742.16
Total Expenses	12,503.11	13,813.67
Profit Before Tax	6,648.38	-401.53
Profit (Loss) for Period	6,648.38	-401.53
Earnings Per Equity Share
Basic	0.07	-4.32
Diluted	0.07	-4.32

 Cochin Plantations Limited Consolidated Cash Flow Statement (Rs in Thousands)

Particulars	31-03-2023/31-03-2024	31-03-2022/31-03-2023
Cash Flows from Operating Activities
Profit Before Extraordinary Items and Tax	6,648.38	-401.53
Adjustments for Reconcile Profit (Loss)
Depreciation and Amortization Expense	25.69	29.7
Adjustments for Working Capital
Decrease (Increase) in Inventories	-2,746.82	-912.04
Decrease (Increase) in Trade Receivables	0.1	-0.1
Decrease (Increase) in Other Current Assets	-3.6	4.92
Increase (Decrease) in Trade Payables	-	-2.22
Increase (Decrease) in Other Current Liabilities	97.78	-194.58
Adjustments for Provisions	694.49	281.28
Net Cash Flows from (Used in) Operations	4,716.02	-1,194.57
Cash Flows from Investing Activities
Purchase of Tangible Assets	-3.01	-154.99
Net Cash Flows from (Used in) Investing Activities	-3.01	-154.99
Cash Flows from Financing Activities
Proceeds from Borrowings	3,000	3,500
Repayments of Borrowings	3,000	3,500
Net Increase (Decrease) in Cash and Cash Equivalents	4,713.01	-1,349.56
Cash and Cash Equivalents at End of Period	5,082.79	369.79

 

Summary of Cash Flow Statement for the Financial year 2024 and 2023: 

Operating Activities:

The company reported a profit before tax of ₹6,648.38, a significant turnaround from last year’s loss of ₹401.53.

Net cash flow from operations increased to ₹4,716.02 from -₹1,194.57 in the previous year.

Key Working Capital Changes:

Inventory levels increased by ₹2,746.82, which could impact liquidity if not matched with future sales.

Provisions increased to ₹694.49, indicating possible future expenses.

 Investing Activities:

Minimal investment in tangible assets (₹3.01) compared to last year 's ₹154.99, reflecting reduced capital expenditure.

 Financing Activities:

Borrowings and repayments were equal at ₹3,000 each, leading to no net impact from financing activities.

Cash Position:

The company’s cash and cash equivalents increased to ₹5,082.79 from just ₹369.79 in the previous year.

This significant cash improvement is mainly due to the strong operating performance.

 Financial Ratios of The Cochin Plantations Limited

Ratio	31-03-2024	31-03-2023
Current Ratio	5.62	3.05
Debt-Equity Ratio	-2.86	-1.66
Return on Equity (ROE)	-0.53	Loss
Net Profit Ratio	0.35	Loss
Return on Capital Employed (ROCE)	0.39	Loss
Inventory Turnover Ratio	-0.60	0.09
Net Capital Turnover Ratio	1.61	2.86

 

Here is a summary of the financial and operational metrics for Cochin Plantations Limited for the years 2024 and 2023:

Current Ratio (5.62 in 2024 vs. 3.05 in 2023)

The current ratio has significantly improved, indicating that the company’s short-term financial health has strengthened.

A higher current ratio suggests that the company has enough current assets to cover its short-term liabilities.

The sharp increase may be due to higher cash reserves, a reduction in current liabilities, or a buildup of inventories.

Debt-Equity Ratio (-2.86 in 2024 vs. -1.66 in 2023)

A negative debt-equity ratio suggests that shareholder equity is negative, meaning the company may have more liabilities than assets.

The worsening of this ratio indicates higher financial risk, as the company may be relying more on debt than equity to finance its operations.

This could raise concerns for investors and creditors, as negative equity can signal financial distress.

Return on Equity (ROE) (-0.53 in 2024 vs. Loss in 2023)

Although still negative, the ROE has improved compared to last year’s outright loss.

A negative ROE means that shareholders have not received a return on their investment, which may be due to losses or low retained earnings.

The improvement indicates that the company is reducing its losses, but it still needs to generate positive net income to deliver returns to shareholders.

Net Profit Ratio (0.35 in 2024 vs. Loss in 2023)

The shift from a net loss in 2023 to a net profit ratio of 35% in 2024 is a significant turnaround.

This means that for every ₹1 in sales, the company now earns ₹0.35 in net profit.

This improvement suggests better cost control, increased revenue, or a more efficient operating model.

Return on Capital Employed (ROCE) (0.39 in 2024 vs. Loss in 2023)

ROCE turning positive indicates that the company has started earning profits on the capital employed.

A ROCE of 39% suggests that for every ₹1 invested in capital, the company generates ₹0.39 in returns.

This improvement highlights that the business is utilizing its capital more efficiently than before.

Inventory Turnover Ratio (-0.60 in 2024 vs. 0.09 in 2023)

A negative inventory turnover ratio suggests potential issues in inventory management.

This could indicate slow-moving inventory, excess stock, or miscalculations in cost of goods sold (COGS).

A negative ratio may also imply that the company is struggling to sell its products, leading to increased holding costs.

Net Capital Turnover Ratio (1.61 in 2024 vs. 2.86 in 2023)

A decline in the net capital turnover ratio suggests that the company is generating fewer sales per unit of working capital.

This could indicate that the company’s working capital efficiency has decreased.

A lower ratio might result from higher inventory levels, delayed receivables, or reduced sales growth.