Cremica Agro Annual Report & Financials

Cremica Agro Foods Limited Balance Sheet (Rs in Thousands)

Cremica Agro Foods Limited Profit & Loss Statement (Rs in Thousands)

 Cremica Agro Foods Limited Consolidated Cash Flow Statement (Rs in Thousands)

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

Cash Flow from Operating Activities:

In 2024, the company reported a profit before tax of ₹2,147 thousand, a notable improvement from the loss of ₹10,373 thousand in 2023. After adjusting for non-operating and non-cash transactions, including a write-back of excess provisions (₹120 thousand) and interest income (₹3,664 thousand), the operating loss before working capital changes stood at ₹1,637 thousand in 2024, compared to ₹2,091 thousand in 2023.

Changes in working capital had a positive effect on the cash flow in 2024. There was a slight decrease in current assets (₹13 thousand) and an increase in trade payables (₹110 thousand) and other current liabilities (₹42 thousand). These changes reduced the net cash used in operations, bringing the cash generated from operations to ₹1,472 thousand, compared to ₹1,988 thousand in 2023.

After accounting for income tax payments (₹375 thousand in 2024 and ₹341 thousand in 2023), the net cash used in operating activities in 2024 was ₹1,847 thousand, slightly lower than the ₹2,329 thousand used in 2023. Despite an improved operating performance, cash outflows persisted due to ongoing operating challenges.

Cash Flow from Investing Activities:

In 2024, the company made significant investments in fixed/term deposits (₹57,000 thousand), slightly higher than the ₹54,000 thousand invested in 2023. However, there were redemptions and maturities of fixed/term deposits totaling ₹56,235 thousand in 2024, compared to just ₹4,108 thousand in 2023. Additionally, interest income received was ₹1,236 thousand in 2024, significantly higher than ₹450 thousand in 2023.

As a result, the net cash generated from investing activities in 2024 was ₹471 thousand, marking a significant improvement compared to the large cash outflow of ₹49,442 thousand in 2023. This improvement was mainly due to the higher redemption of fixed/term deposits in 2024.

Net Increase/Decrease in Cash and Cash Equivalents:

Despite the improvement in both operating and investing activities, the net decrease in cash and cash equivalents in 2024 was ₹1,376 thousand, much smaller than the significant reduction of ₹51,771 thousand in 2023.

Financial Ratios of Cremica Agro Foods Limited

Here is a summary of the financial and operational metrics for Cremica Agro Foods Limited for the year 2024 and 2023:

Current Ratio:

The current ratio measures a company’s ability to pay its short-term liabilities with its short-term assets. In 2024, the current ratio stood at 71.82, compared to 83.63 in 2023.

Return on Equity (ROE):

ROE measures how efficiently a company is using shareholders ' equity to generate profit. In 2024, the company reported a positive ROE of 2.00%, reflecting a return to profitability, whereas in 2023, it was negative at -9.00% due to the company 's net losses.

Net Profit Ratio:

The net profit ratio shows the percentage of revenue that translates into profit after all expenses are deducted. In 2024, the ratio improved to 0.42%, from -2.46% in 2023. The negative net profit ratio in 2023 indicates that the company was incurring losses, whereas the positive figure in 2024 shows the company is now generating a small profit on its revenue.

Return on Capital Employed (ROCE):

ROCE measures how efficiently a company is using both its equity and debt to generate profits. In 2024, the ROCE was 0.03%, compared to -0.12% in 2023. Similar to the other profitability ratios, this improvement reflects the company’s move from losses in 2023 to profitability in 2024, albeit with a very modest return.