Devon Plantations Annual Reports, Balance Sheet and Financials

Devon Plantations & Industries Limited Consolidated Balance Sheet (Rs in Thousands)

Devon Plantations & Industries Limited Consolidated Profit & Loss Statement (Rs in Thousands)

Devon Plantations & Industries Limited Consolidated Cash Flow Statement (Rs in Thousands) 

Summary of cash flow statement for the year 2025 and 2024:

Cash Flow from Operating Activities

The company reported a positive accounting profit of ₹6,839 thousand in 2025, compared to a loss of ₹13,527 thousand in 2024, indicating an improvement in profitability. However, after adjusting for non-cash and non-operating items like depreciation, dividend income, rent, and interest income, the operating profit before working capital changes stood at ₹4,907 thousand, recovering from a negative base last year.

Despite this improvement, working capital changes significantly dragged down cash flows. A sharp increase in inventories (₹14,255 thousand outflow) and rise in receivables indicate funds being tied up in operations. Although there were minor inflows from loans and current liabilities, they were insufficient to offset the outflows. As a result, cash flow from operations remained negative at ₹9,243 thousand, though better than the previous year’s larger negative figure of ₹19,887 thousand. This suggests operational inefficiency and liquidity pressure despite improved profits.

Cash Flow from Investing Activities

Investing activities generated a positive cash inflow of ₹3,429 thousand in 2025, though lower than ₹7,355 thousand in 2024. The company made moderate investments in fixed assets (₹804 thousand outflow), indicating controlled capital expenditure.The main inflows came from interest, rent, dividend income, and sale of assets, reflecting a reliance on non-core income sources rather than aggressive expansion. Compared to last year, proceeds from sale of assets declined significantly, which explains the drop in total investing inflows. Overall, this section indicates steady but reduced liquidity support from investments, with limited reinvestment into growth assets.

Cash Flow from Financing Activities

Financing activities had a minimal positive impact of ₹11 thousand in 2025, compared to a small outflow in 2024. The company shows almost no dependence on external financing, with negligible borrowing or repayment activity.

Finance costs are extremely low, indicating either low debt levels or minimal use of leverage. This suggests a conservative capital structure, but it also means the company is not using external funds to support growth or offset operational cash deficits.

Net Change in Cash Position

Overall, the company experienced a net decrease in cash of ₹5,803 thousand, which is an improvement compared to the previous year’s larger decline of ₹12,566 thousand. The closing cash balance dropped to ₹13,999 thousand, down from ₹19,802 thousand. Although the decline is smaller than last year, the continuous reduction in cash reserves is a concern. It indicates that positive investing inflows are not sufficient to cover operating cash losses, leading to erosion of liquidity.

Financial Ratios of Devon Plantations & Industries Limited

Summary of financial ratios for the year 2025 and 2024:

Current Ratio

The current ratio increased from 2.75 to 3.13, indicating an improvement in liquidity. The company is in a strong position to meet its short-term obligations, with sufficient current assets over current liabilities.

Return on Equity Ratio

ROE improved from -0.13 to 0.06, showing a turnaround from losses to profits. However, the return is still low, indicating limited earnings generated for shareholders.

Inventory Turnover Ratio

The ratio increased significantly from 0.67 to 2.70, reflecting better inventory management and faster movement of stock compared to the previous year.

Trade Receivables Turnover Ratio

This ratio slightly improved from 59.75 to 60.43, indicating efficient collection of receivables and strong credit management.

Trade Payables Turnover Ratio

The ratio increased from 5.53 to 5.69, showing that the company is paying its suppliers slightly faster than before.

Net Capital Turnover Ratio

The ratio improved from 2.24 to 2.58, indicating better utilization of working capital to generate revenue.

Net Profit Ratio

The ratio moved from -0.14 to 0.06, reflecting a shift from net loss to net profit. However, profitability remains at a modest level.

Return on Capital Employed

ROCE improved from -0.13 to 0.06, showing better efficiency in using total capital, though returns are still relatively low.

Return on Investment

ROI improved significantly from -0.74 to 0.06, indicating a strong recovery in returns from investments, but still at a moderate level.