Federal Mogul Anand Sealings India Annual Report | Revenue

Federal Mogul Anand Sealings India Limited (Federal Mogul) Return Comparision with Primex 40 Index

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Federal Mogul Anand Sealings India Limited

Federal Mogul Anand Sealings India Limited Balance Sheet (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Non-current assets
Property, plant and equipment	52,434.28	49,716.97
Capital work-in-progress	5,525.86	8,531.86
Right-of-use assets	956.13	1,041.51
Intangible assets	-	7.85
Investments	165.49	156.53
Other financial assets	1,953.89	1,878.03
Deferred tax assets (net)	99.99	1.18
Current tax assets (net)	2,127.25	1,767.12
Other non-current assets	1,531.83	2,146.78
Current assets
Inventories	19,331.97	19,572.75
Trade receivables	28,317.75	27,235.84
Cash and cash equivalents	41,817.31	33,004.23
Other financial assets	1,623.91	1,184.35
Other current assets	3,188.06	2,481.10
Total Assets	1,59,073.72	1,48,726.10
Equity
Equity share capital	5,563.21	5,563.21
Other equity	1,05,467.35	92,399.66
Non controlling interest	7,404.43	7,160.06
Non-current liabilities
Lease liabilities	660.60	761.14
Provisions	2,025.07	3,238.28
Deferred tax liabilities (net)	179.15	170.49
Current liabilities
Lease liabilities	126.51	69.35
Trade payables
Total outstanding dues of micro enterprises and small enterprises	1,915.20	2,198.21
Total outstanding dues of creditors other than micro enterprises and small enterprises	30,188.78	32,023.31
Other financial liabilities	954.01	1,020.10
Other current liabilities	2,629.35	2,740.19
Provisions	1,172.84	1,382.10
Current tax liabilities (net)	787.22	-
Total Equity and Liabilities	1,59,073.72	1,48,726.10

Federal Mogul Anand Sealings India Limited Profit & Loss Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Income
Revenue from operations	1,69,558.37	1,63,413.87
Other income	3,181.05	1,930.32
Total Income	1,72,739.42	1,65,344.19
Expenses
Cost of materials consumed	62,361.04	63,114.86
Purchases of stock-in-trade	691.71	2,075.73
Changes in inventories of finished goods, work-in progress and stock-in-trade	(91.35)	(184.75)
Employee benefits expenses	37,566.35	34,442.24
Finance costs	482.22	387.14
Depreciation and amortisation expense	8,461.96	8,367.18
Other expenses	45,182.99	43,037.22
Total expenses	1,54,654.92	1,51,239.62
Profit before tax	18,084.50	14,104.57
Current tax (including for earlier years)	4,972.54	3,452.60
Deferred tax (credit)	(224.51)	(86.29)
Profit for the year after tax	13,336.47	10,738.26
Other comprehensive (income)/loss
Items that will not be reclassified to profit or loss
Remeasurements of the post employment defined benefit plans (gain)/loss	(533.80)	170.05
Income tax relating to items that will not be reclassified to profit or loss	134.36	(42.80)
Total other comprehensive (income)/loss (net of tax)	-399.44	127.25
Total comprehensive income for the year	13,735.91	10,611.01
Profit for the year Attributable to	13,336.47	10,738.26
Owner of the Company	12,688.21	10,087.17
Non controlling interest	648.26	651.09
Other comprehensive (income)/loss for the year Attributable to	(399.44)	127.25
Owner of the Company	(379.48)	126.80
Non controlling interest	(19.96)	0.45
Total comprehensive income for the year Attributable to	13,735.91	10,611.01
Owner of the Company	13,067.69	9,960.37
Non controlling interest	668.22	650.64
Earnings per equity share (of ₹ 10 each) (absolute amount)
Basic	22.81	18.13
Diluted	22.81	18.13

Federal Mogul Anand Sealings India Limited Consolidated Cash Flow Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Cash flow from operating activities
Profit before tax	18,084.50	14,104.57
Adjustments for:
Depreciation and amortisation expense	8,461.96	8,367.18
Loss on sale/discard of property, plant & equipment and Capital work in progress (net)	364.97	101.41
Allowance for expected credit loss	145.64	75.76
Excess provision no longer required written back	-468.73	(563.23)
Bad debts/advances written off	96.64	98.08
Interest income	-1,794.36	(948.49)
Finance costs	482.22	382.31
Unrealised foreign exchange loss/(gain) (net)	11.59	(24.39)
Finance income on financial assets carried at amortised cost	-9.81	0.65
Employee share based payments	-	419.52
Operating cash flow before working capital changes	25,374.62	22,013.37
Movements in working capital:
(Increase) in trade receivables	-1,239.14	(677.13)
(Decrease)/increase in inventories	240.78	(1,002.23)
(Increase) in other current and non-current financial assets	-463.86	(133.83)
(Increase)/decrease in other current and non-current assets	-713.25	186.78
(Decrease) in other current and non-current financial liabilities	-25.03	(43.11)
(Decrease)/increase in other current and non-current liabilities	-116.43	768.66
(Decrease) in current and non-current provisions	-888.66	(655.52)
(Decrease)/increase in trade payables	-1,648.15	4,277.81
Cash flow from operating activities post working capital changes	20,520.88	24,734.80
Income tax paid (net)	-4,545.46	(3,696.30)
Net cash generated from operating activities	15,975.42	21,038.50
Cash flow from investing activities
Payment towards acquisition of property, plant and equipment	-7,986.08	(10,011.66)
Proceeds from sale property, plant and equipment	68.62	77.09
Net movement in deposits with banks (other than cash and cash equivalents)	-29.37	0.55
Interest received	1,773.02	790.58
Inter corporate deposit given -	-	(100.00)
Inter corporate deposit received back -	-	3,400.00
Net cash (used in) investing activities	-6,173.81	(5,843.44)
C. Cash flow from financing activities
Repayment of principal component of lease liabilities	-117.56	(62.48)
Finance costs paid (including interest on lease liabilities)	-447.12	(421.29)
Payment of dividend by subsidiary	-423.85	(306.25)
Net cash (used in) financing activities	-988.53	(790.02)
Net increase in cash and cash equivalents	8,813.08	14,405.04
Cash and cash equivalents at the beginning of the year	33,004.23	18,599.19
Cash and cash equivalents at the end of the year	41,817.31	33,004.23

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

Cash Flow from Operating Activities

The Profit Before Tax increased from ₹14,104.57 lakhs in 2023 to ₹18,084.50 lakhs in 2024, indicating improved profitability. Significant adjustments were made for non-cash items like depreciation and amortization (₹8,461.96 lakhs in 2024, slightly up from ₹8,367.18 lakhs in 2023), reflecting consistent investment in assets that require amortization.

Working capital changes impacted the cash flow, particularly with reductions in trade payables (down by ₹1,648.15 lakhs) and increases in receivables and other assets, which collectively reduced cash flow from operations. Despite these adjustments, the net cash generated from operating activities post-working capital changes remained strong at ₹20,520.88 lakhs in 2024 compared to ₹24,734.80 lakhs in 2023.

After accounting for income tax payments (₹4,545.46 lakhs in 2024, up from ₹3,696.30 lakhs in 2023), the net cash from operating activities totaled ₹15,975.42 lakhs, a slight decrease from the previous year’s ₹21,038.50 lakhs due to higher taxes and working capital adjustments.

Cash Flow from Investing Activities

Cash outflows primarily stemmed from the acquisition of property, plant, and equipment, with investments amounting to ₹7,986.08 lakhs in 2024 (down from ₹10,011.66 lakhs in 2023), indicating a significant, though reduced, reinvestment in infrastructure.

Proceeds from asset sales were minimal, with the sale of assets contributing only ₹68.62 lakhs in 2024. However, interest received increased significantly to ₹1,773.02 lakhs in 2024, reflecting more income from deposits or investments.

The net cash outflow from investing activities was ₹6,173.81 lakhs, a slight improvement compared to the prior year 's outflow of ₹5,843.44 lakhs.

Cash Flow from Financing Activities

Financing activities reflected modest outflows due to lease repayments, finance costs, and dividend payments by a subsidiary. Lease liability repayments and dividend payments both increased, indicating ongoing commitments to shareholders and lease obligations.

The overall net cash used in financing activities was ₹988.53 lakhs in 2024, a slight increase from the ₹790.02 lakhs used in 2023, primarily due to higher dividend payments and finance costs.

Net Change in Cash and Cash Equivalents

Despite the cash outflows from investing and financing activities, the company’s strong cash flow from operating activities resulted in a net increase in cash and cash equivalents of ₹8,813.08 lakhs in 2024, though down from the prior year’s increase of ₹14,405.04 lakhs.

Consequently, the company’s cash balance at the end of the year increased to ₹41,817.31 lakhs, up from ₹33,004.23 lakhs, signaling a healthy cash reserve.

Financial Ratios of Federal Mogul Anand Sealings India Limited

Particulars	2024	2023
Current ratio	6.9	6.98
Debt Service coverage ratio	20.35	20.89
Return on equity ratio	8.90%	9.32%
Inventory turnover ratio	8.72	8.71
Trade receivables turnover ratio	4.57	4.72
Trade Payables turnover ratio	2.41	3.23
Net capital turnover ratio	1.03	1.21
Net profit ratio	12.63%	12.30%
Return on capital employed	11.91%	10.48%
Return on Investment	6.09%	4.03%

Here is a summary of the financial and operational metrics for Federal Mogul Anand Sealings India Limited for the year 2024 and 2023:

Current Ratio

The Current Ratio remained strong at 6.9 in 2024, slightly lower than 6.98 in 2023, showing that the company has substantial current assets to cover its current liabilities. A ratio this high suggests excellent liquidity and an ability to handle short-term obligations, though it could also indicate unused assets or potential overcapitalization in working capital.

Debt Service Coverage Ratio (DSCR)

The DSCR of 20.35 in 2024 versus 20.89 in 2023 reflects the company’s strong ability to meet its debt obligations. A DSCR this high indicates robust earnings relative to debt servicing requirements, suggesting the company is very low-risk regarding debt repayment.

Return on Equity (ROE)

ROE decreased slightly from 9.32% in 2023 to 8.90% in 2024, indicating a slight dip in the efficiency of equity capital usage to generate profits. While still solid, the minor decline suggests either lower profitability or an increase in shareholders’ equity that has not yet proportionately contributed to net income growth.

Inventory Turnover Ratio

The Inventory Turnover Ratio remained steady at 8.72 in 2024 compared to 8.71 in 2023. This consistent turnover suggests efficient inventory management, with the company maintaining a balance between stock levels and sales activity.

Trade Receivables Turnover Ratio

A slight decline in the Trade Receivables Turnover Ratio from 4.72 in 2023 to 4.57 in 2024 indicates that the company took a bit longer to collect its receivables this year. This change, while modest, could suggest relaxed credit terms or slower collections, impacting cash flow slightly.

Trade Payables Turnover Ratio

The Trade Payables Turnover Ratio decreased from 3.23 in 2023 to 2.41 in 2024, showing that the company took more time to pay its suppliers. While it may improve short-term cash flow, this slower turnover could also impact supplier relationships.

Net Capital Turnover Ratio

The Net Capital Turnover Ratio dropped from 1.21 in 2023 to 1.03 in 2024, indicating slightly less efficient use of working capital to generate revenue. This decrease could suggest an increase in working capital without a proportionate rise in sales.

Net Profit Ratio

The Net Profit Ratio improved slightly from 12.30% in 2023 to 12.63% in 2024, reflecting a slight increase in profitability relative to sales. This indicates better control over expenses or increased efficiency in generating profit from revenue.

Return on Capital Employed (ROCE)

ROCE rose from 10.48% in 2023 to 11.91% in 2024, showing improved profitability in relation to the company’s capital employed. This increase reflects effective capital usage, as the company generated higher returns on the total capital it employed this year.

Return on Investment (ROI)

The ROI increased significantly from 4.03% in 2023 to 6.09% in 2024, suggesting a better yield from investments made by the company. This improvement highlights a potentially favorable investment strategy or higher returns from deployed assets.

Federal Mogul Anand Sealings India Ltd Annual Report and Financials

Federal Mogul Anand Sealings India Limited (Federal Mogul) Return Comparision with Primex 40 Index

Federal Mogul Anand Sealings India Limited Balance Sheet (Rs in Lakhs)

Federal Mogul Anand Sealings India Limited Profit & Loss Statement (Rs in Lakhs)

Federal Mogul Anand Sealings India Limited Consolidated Cash Flow Statement (Rs in Lakhs)

Financial Ratios of Federal Mogul Anand Sealings India Limited

Federal Mogul Annual Report

Federal Mogul Anand Annual Report 2023-24

Federal Mogul Anand Annual Report 2019-20

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