Credo Mineral Annual Reports, Balance Sheet and Financials

Credo Advanced Chemicals Limited Consolidated Balance Sheet (Rs in Lakhs)

Particulars	31-03-2025	31-03-2024
Non-current assets
Property, plant and equipment	43,254.45	41,517.79
Other Intangible Assets	261.43	277.19
Rights of use Assets	2,257.73	2,818.12
Capital work-in-progress	5,662.28	4,250.63
Non-current assets held for sale	300.82	300.82
Other financial assets	0.47	0.45
Other Non-Current Assets	145.34	377.50
Current assets
Inventories	7,593.72	8,991.77
Trade receivables	2,152.64	2,163.20
Cash and cash equivalents	737.12	28.74
Other Bank Balances	487.13	408.98
Current Tax assets	15.60	12.83
Other current assets	794.24	899.66
Total Assets	63,662.99	62,047.69
Equity
Equity share capital	7,500.00	7,500.00
Other equity	22,451.57	17,461.96
Non controlling interest	988.60	1,598.69
Non-current liabilities
Borrowings	17,711.24	20,151.42
Lease Liabilities	1,585.76	1,954.99
Other Non- Current Liabilities	389.67	605.81
Provisions	77.21	53.59
Deferred Tax Liabilities (Net)	2,435.16	1,287.22
Current Liabilities
Trade Payables	4,615.87	4,018.48
Borrowings	2,599.45	4,030.51
Lease Liabilities	174.30	169.37
Other Financial Liabilities	-	-
Provisions	415.35	233.85
Other current liabilities	2,721.55	2,935.34
Current Tax Liabilities	(1.74)	46.47
Total Equity and Liabilities	63,662.99	62,047.69

Credo Advanced Chemicals Limited Consolidated Profit & Loss Statement (Rs in Lakhs)

Particulars	31-03-2025	31-03-2024
Income
Revenue from operations	27,866.91	22,279.35
Other income	65.28	43.58
Total Income	27,932.19	22,322.93
Expenses
Cost of Material Consumed	8,264.02	9,333.83
Changes  in  Inventory  of  finished  goods,  work  in progress and stores and spares	919.52	(291.33)
Purchase of stock-in-trade	2,228.06	-
Employee benefits expenses	1,942.27	1,435.29
Finance costs	2,608.85	2,721.83
Depreciation and amortization expenses	1,699.95	1,844.86
Other expenses	6,121.67	4,571.72
Total Expenses	23,784.34	19,616.20
Profit/(Loss) before tax	4,147.85	2,706.73
Current Tax	11.17	125.43
Deferred Tax	1,212.65	840.91
MAT credit entitlement	(3.92)	-
Profit/ (loss) after tax for the period	5,353.25	1,7.40.39
Other comprehensive income
Items that will be reclassified to profit or loss:	238.30	212.73
Income tax relating to these items	(59.58)	(53.18)
Item that will be not be classified to profit or loss
Remeasurement of post-employment benefit obligations	2.81	(7.90)
Income Tax relating to these items	3.13	(4.81)
Actuarial gains and losses	(4.05)	0.80
Total   Other   comprehensive   income   for   the period, net of tax	180.62	157.25
Total Comprehensive Income for the Period	5,533.86	1,897.64
Earnings Per Share (Rs.):
Basic	7.14	2.32
Diluted	7.14	2.32

Credo Advanced Chemicals Limited Consolidated Cash Flow Statement (Rs in Lakhs)

Particulars	31-03-2025	31-03-2024
Cash Flow From Operating Activities
Net Profit before tax and extraordinary items	4,147.85	2,706.73
Adjustments for non Cash/ Non trade items:
Depreciation & Amortization Expenses	16,99.95	1,844.86
Interest expenses	3,145.62	2,721.83
Deferred tax	-	889.29
Interest Income	(58.32)	(21.52)
Operating profits before Working Capital Changes	8,935.11	8,141.19
Adjusted For:
(Increase) / Decrease in trade receivables	10.55	(378.75)
Increase / (Decrease) in trade payables	597.39	(411.76)
(Increase) / Decrease in inventories	1,398.05	(195.79)
Increase / (Decrease) in other current liabilities	(213.79)	922.82
Other Current financial Liability
(Increase) / Decrease in other current assets	105.42	(296.82)
Increase / (Decrease) in Short term Provision	181.50	25.36
Increase / (Decrease) in Current tax liabilities(net)	(26.39)	71.69
Increase / (Decrease) in Long term Provision	23.63	20.25
Cash generated from Operations	11,011.46	7,898.19
Income Tax (Paid) / Refund	(24.59)	(23.09)
Net Cash flow from Operating Activities	10,986.87	7,875.10
Cash Flow From Investing Activities
Purchase/ Sale of tangible assets	(3,436.61)	(4,746.33)
(Increase)/ Decrease in Capital WIP	(1,411.65)	4,787.26
Purchase/ Sale of intangible assets	15.77	15.77
(Increase) Decrease of right of use assets	560.39	-
Current investments / (Purchased) sold	-	178.34
Interest Received	-	21.52
Other Non Current financial Liability	1,147.94	(619.95)
Lease liabilities	(364.29)	(65.79)
(Increase) / Decrease in other non-current assets	232.15	(251.04)
Other Non-current financial assets	(0.02)	(0.02)
Change in deposits	(78.15)	392.27
Net Cash used in Investing Activities	(3,334.48)	(287.98)
Cash Flow From Financing Activities
Finance Cost	(3,087.31)	(2,721.83)
Increase/ (Decrease) in Minority Interest	(610.09)	432.40
Changes In other Equity	841.77	(2,943.39)
Other non-current liabilities	(216.15)	-
Increase in / (Repayment) of Short term Borrowings	(1,431.06)	(592.20)
Increase in / (Repayment) of Long term borrowings	(2,440.18)	(4,250.18)
Net Cash used in Financing Activities	(6,944.01)	(10,075.21)
Net Increase/(Decrease) in Cash & Cash Equivalents	708.38	(2,488.08)
Cash & Cash Equivalents at Beginning of period	28.74	2,516.82
Cash & Cash Equivalents at End of period	737.12	28.74

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

Cash Flow from Operating Activities

In FY 2025, the company earned a net profit before tax and extraordinary items of ₹4,147.85 lakhs, higher than ₹2,706.73 lakhs in FY 2024. After adding back non-cash charges like depreciation (₹1,699.95 lakhs) and interest expenses (₹3,145.62 lakhs), and adjusting for deferred tax and interest income, the operating profit before working capital changes stood at ₹8,935.11 lakhs versus ₹8,141.19 lakhs in FY 2024. Working capital movements also supported cash flow – inventories reduced (₹1,398.05 lakhs), trade payables increased (₹597.39 lakhs) and receivables decreased slightly (₹10.55 lakhs). Some pressure came from a fall in other current liabilities (₹213.79 lakhs). Finally, after a small tax outflow of ₹24.59 lakhs, the company generated a strong net operating cash inflow of ₹10,986.87 lakhs in FY 2025, much better than the ₹7,875.10 lakhs generated in FY 2024.

Cash Flow from Investing Activities

During FY 2025, the company spent on buying tangible assets (₹3,436.61 lakhs) and capital work-in-progress (₹1,411.65 lakhs). However, it also got some positive inflows from reduction in right-of-use assets (₹560.39 lakhs) and recognition of non-current financial liabilities (₹1,147.94 lakhs). Other smaller inflows came from deposits and adjustments in non-current assets. As a result, the company had a net inflow of ₹3,334.48 lakhs from investing activities in FY 2025, compared to a smaller inflow of ₹287.98 lakhs in FY 2024.

cash Flow from Financing Activities

Financing activities remained negative in FY 2025. The company paid a high finance cost of ₹3,087.31 lakhs and reduced borrowings — short-term borrowings fell by ₹1,431.06 lakhs and long-term borrowings by ₹2,440.18 lakhs. Minority interest also decreased (₹610.09 lakhs). On the positive side, there was a rise in equity reserves (₹841.77 lakhs). Altogether, financing activities resulted in a net outflow of ₹6,944.01 lakhs in FY 2025, which was better than the larger outflow of ₹10,075.21 lakhs in FY 2024.

Net Cash Position

After combining all three activities, the company recorded a net increase in cash of ₹708.38 lakhs in FY 2025. In contrast, FY 2024 had seen a net decrease of ₹2,488.08 lakhs. The closing balance of cash and cash equivalents improved significantly to ₹737.12 lakhs in FY 2025, compared to only ₹28.74 lakhs at the end of FY 2024.

Financial Ratios of Credo Advanced Chemicals Limited

Particulars	2025	2024
Current Ratio	1.56	1.52
Debt-Equity Ratio	0.08	0.08
Debt service coverage ratio	1.62%	1.07%
Trade Receivables Turnover Ratio	11.83	0.00
Net Capital Turnover Ratio	27.87%	28.58%
Net Profit ratio	5.88%	3.69%
Return on Capital Employed Ratio	0.62%	0.61%
Return on Investment	1.66%	1.23%

Summary of the financial ratios of Credo Advanced Chemicals Limited for the year 2024 & 2025:

Current Ratio

2025: 1.56 | 2024: 1.52
The current ratio shows how well the company can pay its short-term liabilities with its short-term assets. A ratio above 1 means it has more assets than liabilities. The ratio improved slightly in 2025, which means the company’s short-term liquidity position became a little stronger compared to last year.

Debt-Equity Ratio

2025: 0.08 | 2024: 0.08
This ratio shows how much debt the company has compared to its equity. A very low ratio like 0.08 indicates the company relies very little on debt and mostly on its own equity. There is no change from last year, meaning the company continues to have a very safe capital structure with very low financial risk.

Debt Service Coverage Ratio

025: 1.62% | 2024: 1.07%
The DSCR shows how easily the company can pay interest and debt obligations from its earnings. A higher number is better. In 2025, the DSCR improved to 1.62% from 1.07%, meaning the company is in a stronger position to service its debt compared to last year.

Trade Receivables Turnover Ratio

2025: 11.83 | 2024: 0
This ratio shows how many times the company collects its receivables during the year. A big jump to 11.83 in 2025 means the company is collecting payments from customers much faster and managing credit sales very efficiently compared to last year, where it was zero (very poor).

Net Capital Turnover Ratio

2025: 27.87% | 2024: 28.58%
This ratio shows how effectively the company uses its working capital to generate revenue. The ratio fell slightly in 2025, from 28.58% to 27.87%, which means efficiency reduced a little. Still, the ratio is quite healthy.

Net Profit Ratio

2025: 5.88% | 2024: 3.69%
this ratio shows how much profit the company makes from its sales. The improvement from 3.69% to 5.88% means the company is now earning more profit on each rupee of sales, showing stronger profitability in 2025.

Return on Capital Employed

2025: 0.62% | 2024: 0.61%
ROCE shows how well the company uses its total capital (equity + debt) to generate profit. The ratio improved very slightly from 0.61% to 0.62%, meaning capital efficiency remained almost the same, with just a minor improvement.

Return on Investment

2025: 1.66% | 2024: 1.23%
ROI shows how much return the company is generating on its investments. An increase to 1.66% in 2025 from 1.23% in 2024 means the company’s investments are giving better returns than last year.