Fabindia Limited (Fabindia ) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Fabindia Limited

Fabindia Limited Consolidated Balance Sheet (Rs. in Millions)

Particulars	31-03-2024	31-03-2023
Non-current assets
Property, plant and equipment	2,350.02	3,785.41
Capital Work-in-progress	1.67	102.18
Investments Properties	370.19	-
Right of use assets	5,532.27	6,729.93
Goodwill on consolidation	0.28	409.19
Intangible Assets	274.02	4,380.08
Intangible Assets under development	10.61	25.25
Investments	15.49	44.77
Loans	-	49.68
Other financial assets	815.85	874.35
Income tax assets (net)	238.57	553.07
Deferred tax assets (net)	993.29	-
Other non-current assets	23.77	80.51
Current assets
Inventories	2,860.77	5,054.56
Trade Receivables	163.36	661.41
Cash and cash equivalents	1,056.31	255.33
Bank Balance other than cash and cash equivalents	381.62	165.12
Loans	40.19	28.92
Other Financial Assets	207.61	208.29
Other Current assets	595.64	1,008.26
Non-current assets representing investment in Subsidiaries classified as held for sale	7,051.74	290.68
Total Assets	22,983.27	24,706.99
Equity
Equity Share capital	147.91	147.91
Surplus	3,155.53	4,408.49
Non-Controlling interest	1,790.32	1,740.93
Non-Current liabilities
Borrowings	-	1,554.72
Lease Liabilities	5,100.62	6,002.28
Other financial liabilities	131.27	137.93
Provisions	49.97	69.96
Deferred Tax Liabilities (Net)	-	26.15
Other non-current liabilities	365.69	486.91
Current liabilities
Borrowings	6,176.09	5,854.58
Lease liabilities	1,126.74	1,247.44
Total outstanding dues of micro enterprises and small enterprises	359.35	660.64
Total outstanding dues of creditors other than micro and small enterprises	730.63	1,484.57
Other financial liabilities	311.72	343.19
Other current liabilities	337.93	395.55
Provisions	66.51	107.79
Liabilities representing investment in Subsidiaries directly associated with the assets held for sale	3,132.99	37.95
Total Equity and Liabilities	22,983.27	24,706.99

Fabindia Limited Consolidated Profit and Loss Account (Rs. in Millions)

Particulars	31-03-2024	31-03-2023
Revenue from Operation	12,206.36	12,881.16
Other Income	235.98	78.80
Total Income	12,442.34	12,959.96
Expenses
Cost of raw material and components consumed	1,835.02	2,708.49
Cost of contract manufactured goods	1,759.60	2,865.40
Decrease/(Increase) in inventories of finished goods	1,306.52	(567.78)
Employee benefit expenses	1,662.93	1,869.58
Finance Costs	1,249.92	1,128.59
Depreciation and Amortisation expense	1,907.46	1,785.97
Other expenses	3,107.78	2,920.01
Total Expense	12,829.23	12,710.26
Profit/(loss) from continuing operations before share of profit/(loss) of an associate companies, exceptional items and tax	(386.89)	249.70
Share of profit/(loss) in associate companies, net of tax	(1.46)	4.90
Profit/(loss) from continuing operations before exceptional items and tax	(388.35)	254.60
Exceptional items	(555.49)	(111.25)
Profit/(loss) before tax from continuing operations	(941.84)	143.35
Current tax	(15.75)	(55.66)
Adjustments of tax relating to earlier years	30.58	0.21
Deferred tax	141.25	(12.66)
Profit/(loss) for the year from continuing operations	(785.76)	75.24
Discontinued Operations
Profit/(loss) before tax from discontinued operations	(244.05)	(1,323.75)
Tax expenses of discontinued operations	12.39	37.76
Profit/(loss) after tax from discontinued operations	(231.66)	(1,285.99)
Profit/(Loss) for the year	(1,017.42)	(1,210.75)
Other Comprehensive Income
Items that will not be re-classified to statement of profit and loss in subsequent periods
Re-measurement gains / (losses) of defined benefit plans	(12.64)	(21.27)
Income tax effect on above	3.18	5.35
Share of other comprehensive profit/(loss) in associates (net of tax)	(0.10)	0.15
Items that will be re-classified to statement of profit and loss in subsequent periods
Foreign currency translation differences	(5.74)	14.99
Income tax effect on above	2.36	(4.77)
Share of other comprehensive (loss) in associates (net of tax)	(0.17)	1.80
Other comprehensive income / (loss) for the year, net of tax	(13.11)	(3.75)
Total comprehensive profit / (loss) for the year	(1,030.53)	(1,214.50)
Profit/(Loss) for the year attributable to:
Owners of the Company	(968.69)	(761.11)
Non-controlling interests	(48.73)	(449.64)
Other comprehensive (loss)/income for the year attributable to
Owners of the Company	(11.71)	(9.72)
Non-controlling interests	(1.40)	5.97
Total comprehensive (loss) for the year attributable to
Owners of the Company	(980.40)	(770.83)
Non-controlling interests	(50.13)	(443.67)
Earnings per equity share of continuing operations
Basic	(5.45)	0.27
Diluted	(5.45)	0.27
Earnings per equity share of discontinued operations
Basic	(1.10)	(5.41)
Diluted	(1.10)	(5.41)
Earnings per equity share of continuing and discontinued operations
Basic	(6.55)	(5.15)
Diluted	(6.55)	(5.15)

Fabindia Limited Consolidated Cash Flow Statement (Rs. in Millions)

Particulars	31-03-2024	31-03-2023
Cash Flow from Operating Activities
(Loss) from continuing operations before tax	(941.84)	143.35
(Loss) from discontinued operations before tax	(244.05)	(1,323.75)
Adjustments to reconcile (loss) before tax to net cash flows:
Depreciation and amortization expenses	1,907.46	1,785.97
Interest expense	707.93	561.18
Unwinding of asset retirement obligation	3.84	3.75
Unwinding of lease liabilities	538.15	522.34
Interest income	(133.31)	(65.66)
Rental income	-	0.21
Employee share purchase scheme expense	2.66	23.31
Loss on property, plant and equipment sold/discarded (net)	75.49	24.86
Obsolete stock written off	-	0.68
(Gain) on right-of-use assets (net)	(77.00)	(4.45)
Share of accumulated (gain) in associate companies	1.46	-
Debit balances written off	16.28	4.91
Allowance for credit losses/ doubtful advances	15.54	3.60
Provision/ liability no longer required (written back)	(22.00)	(33.36)
Provision for asset retirement obligation/ (written back)	(4.66)	(6.47)
Provision for sales return/ (written back)	(11.37)	(28.77)
Provision for security deposits	9.76	-
Provision for loss on account of fire	-	3.50
Provision for slow and non-moving inventory	151.98	-
Non-cash adjustments (discontinued operations)	436.55	766.88
Operating Profit before Working Capital Charges	2,432.87	2,382.08
Changes in Working Capital
Increase/ (Decrease) in trade receivables	(219.89)	(7.02)
Increase/ (Decrease) in inventories	1,361.13	(711.54)
Decrease in loans	34.36	-
Increase/ (Decrease) in Other financial Assets	57.32	-
Increase in Other Assets	(311.29)	(221.57)
Increase/ (Decrease) in trade payables	(220.81)	366.83
Increase in Other financial liabilities	302.97	-
Increase/ (Decrease) in Other Liabilities	(470.48)	415.34
Increase/ (Decrease) due to foreign exchange translation	4.09	(91.91)
(Decrease) in provisions	(4.27)	(23.07)
Cash Generated from Operations	2,966.28	2,109.14
Income tax paid (net of refund received)	199.65	(217.39)
Net Cash Generated from Operations before exceptional items	3,165.93	1,891.75
Exceptional items	561.79	518.73
Net Cash Flow (Used in)/ Generated from Operating Activates	3,727.72	2,410.48
Cash Flow from Investing Activities
Purchase of property, plant and equipment, intangible assets, capital work in progress and intangible assets under development (net of capital advances and creditors for capital goods)	(85.38)	(1,131.66)
Proceeds from sale of property, plant and equipment and intangible assets	8.45	6.09
Purchase of investment properties	(10.94)	-
Proceeds from sale of investments	17.12	-
Purchase of investments in associate	(9.30)	-
Acquisition of non-controlling interest	(54.73)	-
Net investments in term-bank deposits	(213.75)	(40.68)
Principal receipts of lease receivables	10.91	5.60
Interest received on lease receivables	4.34	4.68
Interest received	33.83	18.69
Net Cash Flow (Used in)/ Generated from Investing Activities	(299.45)	(1,137.28)
Cash Flow from financing Activities
Proceeds from short-term borrowings	1,385.26	19,769.92
Repayment of short-term borrowings	(241.74)	(19,998.69)
Proceeds from long-term borrowings	1,004.59	2,607.14
Repayment of long-term borrowings	(1,968.36)	(1,951.45)
Proceeds from issue of shares (including securities premium)	-	0.28
Payment of principal portion of lease liabilities	(1,256.54)	(1,153.14)
Payment of interest portion of lease liabilities	(547.89)	(531.42)
Interest paid	(731.30)	(630.13)
Net Cash Flow (Used in)/ Generated from financing Activities	(2,355.98)	(1,887.49)
Net Increase /(Decrease) In Cash and Cash Equivalents	1,072.29	(614.29)
Cash & Cash Equivalents at the Beginning of the Year	(272.98)	341.31
Less: Cash and Cash equivalent attributable to subsidiary disposed during the year	(7.85)	-
Cash & Cash Equivalents at the End of the Year	791.46	(272.98)

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

Cash Flow from Operating Activities

For the year ending 31st March 2024, the company generated a strong positive operating cash flow of ₹3,727.72 million, which improved from ₹2,410.48 million in the previous year. Even though there were losses before tax from continuing and discontinued operations, this was offset by significant non-cash adjustments like depreciation, finance costs, and provisions. Positive working capital changes—especially a reduction in inventories and increased financial liabilities—also supported the higher cash inflow.

Cash Flow from Investing Activities

The company had a net outflow of ₹299.45 million in 2024 from investing activities, a much smaller outflow compared to ₹1,137.28 million in 2023. The outflows were mainly due to purchases of fixed assets, investment properties, and bank deposits, while inflows included proceeds from sale of assets and some interest income.

Cash Flow from Financing Activities

In 2024, the company reported a net outflow of ₹2,355.98 million from financing activities, which was higher than the outflow of ₹1,887.49 million in the previous year. This mainly came from repayments of long-term and short-term borrowings, lease payments, and interest paid, despite some new borrowings raised during the year.

Net Changes in Cash and cash equivalents

Overall, the company’s cash position improved, with a net increase of ₹1,072.29 million during 2024. The closing cash balance turned positive to ₹791.46 million from a negative balance of (₹272.98 million) the previous year, reflecting a healthier liquidity position by year-end.

Fabindia Limited Financial Ratios

Particulars	2024	2023
Current Ratio	0.55	0.70
Debt-Equity Ratio	1.26	1.04
Debt Service Coverage Ratio	0.58	0.12
Return on Equity Ratio	(0.16)	(0.03)
Inventory Turnover Ratio	3.24	3.09
Trade Receivables Turnover Ratio	86.03	97.83
Trade Payables Turnover Ratio	2.27	5.58
Net Capital Turnover Ratio	(3.52)	(4.82)
Net Profit Ratio	(0.07)	(0.01)
Return on Capital Employed	2.40%	9.16%
Return on Investment	(0.20%)	(4.68%)

Here is a summary of the financial ratios for the years 2024 and 2023:

Current Ratio: The current ratio dropped from 0.70 in 2023 to 0.55 in 2024. This shows the company has less than ₹1 in current assets for every ₹1 of short-term liabilities, which is a sign of weak short-term liquidity.

Debt-Equity Ratio: This ratio increased from 1.04 in 2023 to 1.26 in 2024. It means the company is now relying more on borrowed funds compared to its own equity, which slightly increases financial risk.

Debt Service Coverage Ratio: The ratio improved from 0.12 to 0.58, showing the company is now in a better position to cover its debt payments from its earnings, though it is still below the ideal level of 1.

Return on Equity Ratio: The ratio is negative in both years, falling further from (–0.03) in 2023 to (–0.16) in 2024. This means the company made losses instead of profits for shareholders, and the situation worsened.

Inventory Turnover Ratio: The ratio improved slightly from 3.09 to 3.24, suggesting the company managed its inventory a bit better and sold goods faster in 2024.

Trade Receivables Turnover Ratio: This dropped from 97.83 to 86.03, meaning the company collected payments from customers a bit slower than before, which could affect cash flow.

Trade Payables Turnover Ratio: The ratio fell sharply from 5.58 to 2.27, showing the company took longer to pay its suppliers, which might help cash flow but could affect supplier relationships.

Net Capital Turnover Ratio: Though still negative, it improved slightly from (–4.82) in 2023 to (–3.52) in 2024. This shows the company’s capital is still being used inefficiently but the situation is slightly better.

Net Profit Ratio: The ratio stayed negative, dropping further from (–0.01) to (–0.07). This means the company continued to make a loss on its sales, and the losses got bigger.

Return on Capital Employed (ROCE): ROCE fell sharply from 9.16% to 2.40%, showing the company earned much less profit from the money invested in the business.

Return on Investment (ROI): Although still negative, ROI improved from (–4.68%) to (–0.20%), meaning the company reduced its investment losses compared to last year.