| Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
|---|---|---|---|---|---|---|---|
| Primex-40 | |||||||
| Dalmia Bharat Refractories Limited |
|
Particulars |
31-03-2025 |
31-03-2024 |
|
Non-Current Assets |
|
|
|
Property, Plant & Equipment |
271.19 |
285.61 |
|
Right of use assets |
13.32 |
13.58 |
|
Invetsment property |
0.21 |
0.21 |
|
Capital work in progress |
152.24 |
90.20 |
|
Other Intangible assets |
0.11 |
- |
|
Goodwill |
0.02 |
0.02 |
|
Investments |
2,538.03 |
2,293.40 |
|
Other Financial assets |
7.68 |
3.62 |
|
Non current tax assets |
7.94 |
29.99 |
|
Other non-current assets |
14.17 |
2.72 |
|
Current Assets |
|
|
|
Inventories |
38.97 |
28.86 |
|
Investments |
108.73 |
218.59 |
|
Trade Receivables |
19.11 |
23.53 |
|
Cash & Cash equivalents |
91.62 |
231.79 |
|
Bank balances other than above |
8.92 |
19.70 |
|
Loans and advances |
0.01 |
0.04 |
|
Other Financial assets |
5.74 |
3.05 |
|
Other current assets |
38.36 |
33.95 |
|
Total Assets |
3,316.37 |
3,278.86 |
|
Equity |
|
|
|
Equity Share Capital |
44.20 |
44.20 |
|
Other Equity |
2,377.62 |
2,561.75 |
|
Non-controlling Interests |
5.24 |
5.78 |
|
Non-Current Liabilities |
|
|
|
Borrowings |
767.28 |
576.83 |
|
Lease Liabilities |
0.39 |
0.61 |
|
Other Financial Liabilities |
32.13 |
4.73 |
|
Provisions |
9.77 |
9.56 |
|
Deferred Tax Liabilities (Net) |
2.59 |
- |
|
Current Liabilities |
|
|
|
Lease Liabilities |
0.28 |
0.22 |
|
Trade Payables |
|
|
|
Total outstanding dues of Micro and Small Enterprises |
0.95 |
0.16 |
|
Total outstanding dues of other than Micro and Small Enterprises |
36.41 |
31.15 |
|
Other Financial Liabilities |
21.07 |
27.56 |
|
Other Current liabilities |
8.30 |
6.11 |
|
Provisions |
10.14 |
10.20 |
|
Total Equity and Liabilities |
3,316.37 |
3,278.86 |
|
Particulars |
31-03-2025 |
31-03-2024 |
|
Income |
|
|
|
Revenue from operations |
106.29 |
115.96 |
|
Other income |
93.08 |
63.08 |
|
Total income |
199.37 |
179.04 |
|
Expenses |
|
|
|
Cost of raw materials consumed |
46.21 |
46.26 |
|
Purchase of stock-in-trade |
16.90 |
16.79 |
|
Changes in inventories |
0.98 |
6.79 |
|
Employee benefits expense |
18.22 |
18.61 |
|
Finance costs |
84.31 |
13.85 |
|
Depreciation |
26.07 |
24.25 |
|
Other expenses |
44.00 |
54.92 |
|
Total expenses |
236.69 |
181.47 |
|
Profit/Loss before exceptional items and tax |
-37.32 |
-2.43 |
|
Exceptional Items |
- |
12.09 |
|
Profit/Loss before tax |
-37.32 |
9.66 |
|
Deferred tax |
-0.61 |
6.22 |
|
Tax adjustments for eaelier years |
- |
2.64 |
|
Net Prot/(Loss) for the year after tax from continuing operations |
-36.71 |
0.80 |
|
Discontinued operation |
|
|
|
Profit before tax from discontinued operation |
0.08 |
61.88 |
|
Tax expense on discontinued operation |
0.02 |
15.59 |
|
Prot/(Loss) for the year |
-36.65 |
47.09 |
|
Other comprehensive income |
|
|
|
Items that will not be reclassified to profit or loss: |
|
|
|
Net loss on equity instruments through OCI |
-150.75 |
-230.25 |
|
Income tax effect on above |
- |
3.00 |
|
Re-measurement of defined benefit plans |
-0.37 |
-0.10 |
|
Income tax effect on above |
0.09 |
0.03 |
|
Items that will be reclassified to profit or loss: |
|
|
|
Net (loss)/gain on debt instruments through OCI |
8.25 |
-8.25 |
|
Exchange differences in translating the financial statements of
foreign operations |
4.74 |
-1.50 |
|
Other comprehensive income for the year, net of tax |
-138.04 |
-237.07 |
|
Total comprehensive income for the year |
-174.69 |
-189.98 |
|
Net prot/ (loss) Attributable to |
|
|
|
Owners of the Company |
-36.11 |
47.13 |
|
Non controlling interest |
-0.54 |
-0.04 |
|
Other Comprehensive Income Attributable to |
|
|
|
Owners of the Company |
-138.04 |
-236.86 |
|
Non controlling interest |
- |
-0.21 |
|
Total Comprehensive Income Attributable to |
|
|
|
Owners of the Company |
-174.15 |
-189.73 |
|
Non controlling interest |
-0.54 |
-0.25 |
|
Earning/(Loss) per equity share |
|
|
|
Basic and Diluted - Continuing operations |
-8.18 |
0.19 |
|
Basic and Diluted - Discontinued operation |
0.01 |
10.47 |
|
Basic and Diluted - Continuing and discontinued operations |
-8.17 |
10.66 |
|
Particulars |
31-03-2025 |
31-03-2024 |
|
Cash Flow from Operating Activities |
|
|
|
Profit/ (loss) before tax from ordinary activities before exceptional
items |
|
|
|
Continuing operations |
-37.32 |
-2.43 |
|
Discontinued opeartions |
0.08 |
61.88 |
|
(Loss)/ Profit before taxation and before exceptional items |
-37.24 |
59.45 |
|
Exceptional Items |
- |
12.09 |
|
(Loss)/Prot before taxation |
-37.24 |
71.54 |
|
Adjustment for: |
|
|
|
Depreciation, amortisation & impairment expense |
26.13 |
24.31 |
|
Provision no longer required written back |
-0.43 |
-71.95 |
|
Bad debts Recovery |
-4.76 |
- |
|
Gain on sale of subsidiary |
- |
-12.09 |
|
Provision for warranty |
0.43 |
0.8 |
|
Finance cost |
84.33 |
14.02 |
|
Interest income |
-34.68 |
-27.88 |
|
Dividend income |
-9.63 |
-7.38 |
|
Profit on termination of lease |
-0.01 |
-0.02 |
|
Gain on investments carried at fair value through statement of profit
and loss |
-11.52 |
-2.48 |
|
Profit on Sale of current investments |
-29.7 |
-14.89 |
|
(Profit) / loss on sale of property, plant and equipment |
-1.06 |
0.15 |
|
Operating profit before working capital changes |
-18.14 |
-25.87 |
|
Adjustments for Working Capital: |
|
|
|
(Increase)/Decrease in inventories |
-10.11 |
13.51 |
|
Decrease in trade receivables |
9.18 |
93.59 |
|
Decrease in loans |
0.03 |
0.49 |
|
(Increase)/Decrease in other financial assets |
-2.28 |
21.82 |
|
Increase in other assets |
-15.86 |
-16.58 |
|
Increase/(Decrease) in trade payables |
6.05 |
-112.08 |
|
Increase/(Decrease) in other financial liabilities |
5.61 |
-277.38 |
|
Decrease in provisions |
-0.22 |
-5.16 |
|
Decrease in other liabilities |
-4.76 |
-8.75 |
|
Cash Used in Operations |
-12.36 |
-290.54 |
|
Income tax (paid)/refund |
25.32 |
-6.14 |
|
Net Cash Flow from Operating Activities |
-5.18 |
-322.55 |
|
Cash Flow from Investing Activities |
|
|
|
Purchase of property, plant, equipment, intangible assets and capital
WIP |
-76.13 |
-5.84 |
|
Proceeds from sale of property, plant and equipment |
3.62 |
0.02 |
|
Interest income |
33.94 |
27.52 |
|
Dividend income |
9.63 |
7.38 |
|
Investment in subsidiary |
- |
-0.01 |
|
Purchase of non current investments |
-543.64 |
-692.52 |
|
Purchase of current investments |
-18 |
-70 |
|
Proceeds from sale of non current investments |
179.38 |
- |
|
Proceeds from sale of current investments |
88 |
- |
|
Proceeds from sale of mutual funds |
634.65 |
821.93 |
|
Purchase of mutual funds |
-575.05 |
-528.09 |
|
Proceed from sale of Investment in Shares of Subsidiary |
- |
114.28 |
|
Other bank balances |
-2.54 |
58.99 |
|
Proceeds on slump sale of business |
- |
90.8 |
|
Net Cash Flow from Investing Activities |
-266.14 |
-175.54 |
|
Cash Flow from Financing Activities |
|
|
|
Dividend paid |
-6.63 |
-6.56 |
|
Proceeds of non-current borrowings |
190.45 |
725.79 |
|
Repayment of non-current borrowings |
- |
-113 |
|
Repayment of lease liability |
-0.18 |
-0.77 |
|
Interest paid |
-52.49 |
-3.79 |
|
Net Cash Flow from Financing Activities |
131.15 |
601.67 |
|
Net Increase/decrease in cash & cash equivalents |
-140.17 |
103.58 |
|
Cash & cash equivalents at beginning |
231.79 |
128.21 |
|
Cash & cash equivalents at end |
91.62 |
231.79 |
|
Cash and Cash equivalents comprise of: |
|
|
|
Cash on hand |
0.05 |
0.05 |
|
Balance with banks |
|
|
|
In current accounts |
5.86 |
29.1 |
|
Deposits with maturity of less than three months |
85.71 |
202.64 |
|
Total |
91.62 |
231.79 |
Here is a summary of the Cash Flow
Statement for the years 2025 and 2024:
Cash Flow from
Operating Activities
In FY 2025, the
company reported a net cash outflow of ₹5.18 crores from
operating activities, a notable improvement from the significant
outflow of ₹322.55 crores in FY 2024.
The loss
before tax and exceptional items stood at ₹37.24
crores in FY 2025 compared to a profit of ₹59.45
crores in FY 2024. However, this decline in profits was
somewhat offset by non-cash adjustments, particularly depreciation
(₹26.13 crores) and finance costs (₹84.33 crores).
The company also recorded several non-cash gains such as interest
income (₹34.68 crores), profit on investments (₹11.52 crores),
and sale
of current investments (₹29.7 crores), which reduced the net
operating profit figure.
Working capital
changes further impacted cash flows. Inventory levels increased by ₹10.11
crores, suggesting stock buildup, and there was an increase in other assets by
₹15.86 crores. While trade receivables decreased by ₹9.18
crores, easing some working capital pressure, liabilities such
as trade
payables and other financial liabilities only slightly
improved. Overall, the working capital changes contributed
to a cash outflow of ₹12.36 crores, much better than the ₹290.54
crores outflow in FY 2024, when liabilities had sharply
decreased.
A notable positive
in FY 2025 was the income tax refund of ₹25.32 crores,
compared to tax paid of ₹6.14 crores in FY 2024. This refund partially
cushioned the overall cash outflow from operations.
Cash Flow from
Investing Activities
In FY 2025, the
company witnessed a significant net cash outflow of ₹266.14 crores
from investing activities, compared to ₹175.54 crores outflow in FY 2024.
The key reason for
this larger outflow was a substantial purchase of non-current investments
worth ₹543.64 crores, continuing its investment-heavy strategy,
albeit slightly less than the ₹692.52 crores spent in FY 2024. The company also
purchased mutual
funds worth ₹575.05 crores, offset partially by proceeds of ₹634.65
crores from the sale of mutual funds, which indicates an
ongoing cycle of churning investment portfolios.
Another major
expenditure in FY 2025 was the purchase of property, plant, and
equipment (₹76.13 crores), a significant increase from ₹5.84
crores in FY 2024, possibly signaling capital expansion or upgrades. Income
from investments, interest, and dividends remained strong at ₹33.94
crores and ₹9.63 crores, respectively, which helped reduce the
net outflow slightly.
Unlike FY 2024, FY
2025 did not feature any cash inflows from the sale of business
units or subsidiaries, which had contributed ₹205.08
crores in the previous year (₹114.28 crores from sale of a
subsidiary and ₹90.8 crores from a slump sale).
Cash Flow from
Financing Activities
In FY 2025,
financing activities contributed ₹131.15 crores in net
inflows, though this was much lower than the ₹601.67 crores
inflow in FY 2024. The primary source was proceeds
from non-current borrowings amounting to ₹190.45 crores,
indicating that the company raised debt to support its operations or
investments. There was no repayment of borrowings
in FY 2025, compared to ₹113 crores of repayments
in FY 2024.
However, interest
payments increased sharply to ₹52.49 crores, possibly due to
the higher debt load, and dividends paid
remained consistent at around ₹6.6 crores. Lease liability repayments were
minimal at ₹0.18 crores.
Net Change in
Cash and Closing Balance
The overall result
of these activities was a net decrease in cash and cash
equivalents of ₹140.17 crores in FY 2025, reversing the increase
of ₹103.58 crores in FY 2024.
The closing
cash and cash equivalents as of 31st March 2025 stood at ₹91.62
crores, significantly down from ₹231.79 crores
a year earlier. The majority of the balance was held in short-term
deposits (₹85.71 crores), with the rest in current accounts and
minimal cash on hand.
|
Particulars |
31-03-2025 |
31-03-2024 |
|
Current ratio |
2.97 |
6.97 |
|
Debt Equity ratio |
0.3 |
0.19 |
|
Debt service coverage ratio |
0.35 |
1.65 |
|
Return on equity ratio |
-2.77% |
0.20% |
|
Inventory turnover ratio |
1.97 |
1.33 |
|
Trade receivables turnover ratio |
4.98 |
0.68 |
|
Trade payables turnover ratio |
1.45 |
0.19 |
|
Net capital turnover ratio |
0.45 |
0.09 |
|
Net profit ratio |
-112.57% |
12.45% |
|
Return on capital employed |
0.35% |
-0.12% |
|
Return on Investments |
-3.88% |
-7.93% |
Here is a summary of the financial
Ratios for the year 2025 and 2024:
Current Ratio
2025:
2.97 | 2024: 6.97
The current
ratio measures a company’s ability to meet its short-term
obligations with its current assets. A ratio of 2.97 in 2025 indicates that the
company has nearly three times the current assets to cover its current
liabilities, which is financially comfortable. However, it has significantly
declined from a very high 6.97 in 2024, suggesting the company either increased
current liabilities or reduced current assets — or both.
Debt-Equity
Ratio
2025:
0.30 | 2024: 0.19
The debt-equity
ratio compares the company’s total debt to shareholders’
equity, indicating the degree of financial leverage. The ratio rose from 0.19
to 0.30, which shows an increased reliance on debt financing.
Debt Service
Coverage Ratio (DSCR)
2025:
0.35 | 2024: 1.65
The DSCR
reflects the company’s ability to service its debt (interest + principal) from
its operating profit. A ratio below 1, like 0.35 in 2025, indicates that the
company does not generate sufficient earnings to cover its debt obligations
Return on Equity
(ROE)
2025:
-2.77% | 2024: 0.20%
ROE measures how
efficiently the company generates profits from shareholders’ equity. The negative
ROE of -2.77% in 2025 reflects a net loss and destruction of
shareholder value.
Inventory
Turnover Ratio
2025:
1.97 | 2024: 1.33
This ratio shows how
often inventory is sold and replaced over a period. The increase to 1.97
in 2025 from 1.33 indicates better
inventory management and higher sales relative to inventory held.
Trade
Receivables Turnover Ratio
2025:
4.98 | 2024: 0.68
This ratio measures
how quickly the company collects receivables. The sharp rise from 0.68
to 4.98 reflects significant improvement in collection
efficiency.
Trade Payables
Turnover Ratio
2025:
1.45 | 2024: 0.19
This ratio shows how
quickly the company pays its suppliers. A rise from 0.19 to 1.45
means the company is now settling its payables much faster.
Net Capital
Turnover Ratio
2025:
0.45 | 2024: 0.09
This ratio evaluates
how efficiently the company uses its working capital to generate revenue. The
increase from 0.09 to 0.45 is a strong improvement,
indicating better capital utilization and operational efficiency.
Net Profit Ratio
2025:
-112.57% | 2024: 12.45%
The net
profit ratio shows how much of revenue remains as net profit
after all expenses. A ratio of -112.57% is extremely
poor, meaning the company incurred losses that exceeded its revenue. This steep
decline from 12.45% in 2024 reflects severe
profitability challenges.
Return on Capital
Employed (ROCE)
2025:
0.35% | 2024: -0.12%
ROCE assesses how
well the company generates profit from its total capital (debt + equity). While
still low, the shift from -0.12% to 0.35%
suggests slight improvement in the efficiency of capital use.
Return on
Investments (ROI)
2025:
-3.88% | 2024: -7.93%
ROI evaluates the
profitability of the company’s investment portfolio. While still negative, the improvement
from -7.93% to -3.88% shows a reduction in investment-related
losses.
