English Indian Clays Annual Report | P & L Account for FY 2023-24

EICL Limited Balance Sheet (Rs in Lakhs)

EICL Limited Profit & Loss Statement (Rs in Lakhs)

EICL Limited Consolidated Cash Flow Statement (Rs in Lakhs) 

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

Cash Flows from Operating Activities

Profit/(Loss) Before Tax

31-03-2024: 744.59 / 31-03-2023: -604.07 Profit before tax in 2024 compared to a loss before tax in 2023 indicates improved performance in 2024.

Adjustments for Non-Cash and Other Items

These adjustments reconcile net income to the cash generated or used in operations, accounting for items that affect reported profits but not cash.

Profit on Sale of Assets Held for Sale

31-03-2024: -106.95 / 31-03-2023: -1,103.86 Gain subtracted from net income.

Depreciation and Amortization Expense

31-03-2024: 791.01 / 31-03-2023: 942.65 non-cash depreciation and amortization expense added back.

Provision for Bad Trade and Other Receivables, Loans and Advances

31-03-2024: 2.01 / 31-03-2023: 3.15 non-cash provision added back.

Interest on Borrowings

31-03-2024: 257.55 / 31-03-2023: 510.9 Interest expense added back.

Provision for Impairment

31-03-2024: - / 31-03-2023: 122.24 Provision added back in 2023.

Interest from Banks on Deposits

31-03-2024: -8.32 / 31-03-2023: - Interest income subtracted.

Loss/(Profit) on Sale of Property, Plant and Equipment

31-03-2024: 8.91 / 31-03-2023: -1.17 Loss added back, gain subtracted.

Unrealized Foreign Exchange (Gain)/Loss

31-03-2024: -4.36 / 31-03-2023: 4.83 Unrealized gains subtracted; losses added back.

Changes in Working Capital

Changes in working capital reflect the movement in current assets and liabilities affecting cash flow.

Changes in Working Capital

31-03-2024: 1,684.44 / 31-03-2023: -125.33 Positive changes in working capital in 2024 indicate more cash generated from operational activities.

Adjustments for Increase / Decrease in Operating Assets

Inventories

31-03-2024: 722.61 / 31-03-2023: -169.65 Decrease in inventories in 2024 adds to cash flow, while increase in 2023 reduces cash flow.

Trade Receivables

31-03-2024: -288.55 / 31-03-2023: 390.04 Increase in receivables in 2024 reduces cash flow, while decrease in 2023 adds to cash flow.

Other Current Financial Assets

31-03-2024: 17.14 / 31-03-2023: -24.98 Decrease in other current financial assets in 2024 adds to cash flow, while increase in 2023 reduces cash flow.

Other Current Assets

31-03-2024: -47.21 / 31-03-2023: 126.73 Increase in other current assets in 2024 reduces cash flow, while decrease in 2023 adds to cash flow.

Other Non-Current Financial Assets

31-03-2024: -5.17 / 31-03-2023: 41.03 Increase in other non-current financial assets in 2024 reduces cash flow, while decrease in 2023 adds to cash flow.

Other Non-Current Assets

31-03-2024: 168.25 / 31-03-2023: 9.66 Decrease in other non-current assets in 2024 adds to cash flow.

Adjustments for Increase / Decrease in Operating Liabilities

Trade Payables

31-03-2024: -246.61 / 31-03-2023: -588.54 Decrease in trade payables reduces cash flow in both years.

Other Financial Liabilities

31-03-2024: -2.49 / 31-03-2023: -100.26 Decrease in other financial liabilities reduces cash flow in both years.

Provisions

31-03-2024: 32.54 / 31-03-2023: 12 Increase in provisions adds to cash flow in both years.

Other Current Liabilities

31-03-2024: 109.77 / 31-03-2023: 17.3 Increase in other current liabilities adds to cash flow in both years.

Cash Generated from Operating Activities

31-03-2024: 2,144.72 / 31-03-2023: -412 Significant cash generated from operations in 2024 compared to cash used in 2023.

Income Taxes Refund (Net)

31-03-2024: -21.58 / 31-03-2023: -60.05 Tax refunds add to cash flow.

Net Cash Generated from / (Used in) Operating Activities

31-03-2024: 2,123.14 / 31-03-2023: -472.05 Net cash inflow in 2024 compared to an outflow in 2023 indicates improved cash generation from operations.

Cash Flows from Investing Activities

Capital Expenditure on Property, Plant and Equipment, Including Capital Advances

31-03-2024: -344.38 / 31-03-2023: -161.01 Cash outflow for capital expenditure increased in 2024.

Capital Expenditure on Intangible Assets

31-03-2024: -0.16 / 31-03-2023: -1.48 Minimal outflow for intangible assets.

Sale Proceeds of Property, Plant and Equipment

31-03-2024: 0.1 / 31-03-2023: 16.63 Cash inflow from sale of assets decreased in 2024.

Sale Proceeds of Asset Held for Sale

31-03-2024: 1,433.33 / 31-03-2023: 1,484.71 Significant inflow from sale of assets held for sale in both years.

Advance Received Against Asset Held for Sale

31-03-2024: - / 31-03-2023: 890 Advance received in 2023.

Interest Income on Bank Deposits

31-03-2024: 11.92 / 31-03-2023: 8.85 Interest income slightly increased in 2024.

Net Cash Generated from / (Used in) Investing Activities

31-03-2024: 1,100.81 / 31-03-2023: 2,237.70 Net cash inflow in both years, though lower in 2024 compared to 2023 due to lower sale proceeds and higher capital expenditure.

Cash Flows from Financing Activities

Proceeds from / (Repayment of) Borrowings

31-03-2024: -216.28 / 31-03-2023: -784.25 Cash outflow for repayment of borrowings in both years, less in 2024.

Proceeds from / (Repayment of) Cash Credits / Working Capital Demand Loan (Net)

31-03-2024: -2,444.15 / 31-03-2023: 562.47 Significant outflow in 2024 compared to an inflow in 2023.

Repayment of Unsecured Loan

31-03-2024: - / 31-03-2023: -1,000.00 Repayment in 2023.

Interest Paid

31-03-2024: -256.57 / 31-03-2023: -547.94 Interest paid decreased in 2024.

Net Cash Generated from / (Used in) Financing Activities

31-03-2024: -2,917.00 / 31-03-2023: -1,769.72 Net cash outflow in both years, significantly higher in 2024 due to higher repayment of working capital loans.

Financial Ratios of EICL Limited

Here is a summary of the financial and operational metrics for EICL Limited for the year 2024 & 2023:

Current Ratio (in times)

2024: 2.38

2023: 1.42

Insight: The current ratio has increased from 1.42 in 2023 to 2.38 in 2024, indicating improved liquidity. A current ratio above 1 means the company has more current assets than current liabilities, which suggests better short-term financial health.

Debt Equity Ratio (in times)

2024: 0.02

2023: 0.19

Insight: The debt equity ratio has decreased significantly, indicating that the company has reduced its reliance on debt financing. This lower leverage reduces financial risk and may indicate a stronger balance sheet.

Debt Service Coverage Ratio

2024: 7.91

2023: 1.89

Insight: The debt service coverage ratio has substantially increased, indicating that the company is in a much better position to cover its debt obligations. A higher ratio suggests strong earnings relative to debt payments.

Return on Equity Ratio (%)

2024: 0.02%

2023: -0.01%

Insight: The return on equity has turned positive, though it is still very low. This suggests slight improvement in the profitability from the shareholders ' perspective, but the return is minimal.

Inventory Turnover Ratio

2024: 121.14

2023: 152.11

Insight: The inventory turnover ratio has decreased, indicating that the company is holding onto inventory longer. While still high, this drop may suggest potential inefficiencies in inventory management or a slowdown in sales.

Trade Receivables Turnover Ratio

2024: 48.95

2023: 61.89

Insight: This ratio has decreased, indicating that the company is collecting receivables more slowly compared to the previous year. It could imply a less efficient collection process or lenient credit terms.

Trade Payables Turnover Ratio

2024: 57.62

2023: 74.59

Insight: The trade payables turnover ratio has decreased, suggesting that the company is taking longer to pay its suppliers. This could be a strategy to conserve cash or reflect extended credit terms from suppliers.

Net Capital Turnover Ratio

2024: 3.35

2023: 4.13

Insight: A decrease in the net capital turnover ratio indicates the company is generating less sales per unit of net working capital. This could suggest less efficient use of working capital.

Net Profit Ratio (%)

2024: 2.50%

2023: -1.41%

Insight: The net profit ratio has improved from a negative value to a positive 2.50%. This indicates that the company has become profitable, reflecting better overall operational efficiency and cost management.

Return on Capital Employed (%)

2024: 6.54%

2023: 0.88%

Insight: A significant improvement in the return on capital employed suggests that the company is using its capital more effectively to generate

Dividend History

EICL Limited Recent Financial Performance

Dividend per Share: The specific dividend per share figure for 2024 and 2023 is Rs. 2 & nil, Dividend per share represents the portion of a company 's earnings that is distributed to shareholders in the form of dividends. A higher dividend per share may indicate that the company is sharing more of its profits with shareholders.

Retained Earnings: Retained earnings for 2024 amounted to Rs. 5,281.38 Lakhs, while in 2023, they were Rs. 4,914.33Lakhs. Retained earnings represent the portion of a company 's profits that is reinvested in the business rather than distributed as dividends. An increase in retained earnings suggests that the company has retained more of its profits for reinvestment or future growth.

To provide a more comprehensive analysis, it would be necessary to consider additional financial metrics such as revenue, net profit, assets, liabilities, and cash flows. Additionally, an analysis of trends over multiple years and a comparison to industry benchmarks and competitors would help in assessing the company 's financial health and performance.