Flare Finance India Limited Annual Report and Financials

Particulars

2021

2020

(1) ASSETS

Non-current assets

(a) Property, Plant and Equipment

3,237

3,237

(b) Financial Assets

(i) Investments

17,343,550

17,343,550

(ii) Loans & Advances

33,460,171

35,945,171

(2) Current assets

(a) Financial Assets

(i) Trade receivables

4,301,608

4,301,608

(ii) Cash and cash equivalents

365,577

275,235

(iii) Loans & Advances

155,213,307

158,544,916

(c) Other current assets

450,722

355,936

Total Assets

211,138,173

216,769,653

EQUITY AND LIABILITIES

Equity

(a) Equity Share capital

185,350,350

185,350,350

(b) Other Equity

1,040,534

1,102,111

LIABILITIES

Non-current liabilities

(a) Deferred tax liabilities (Net)

7,323

7,323

Current liabilities

(a) Financial Liabilities

(i) Borrowings

13,636,535

19,046,535

(ii) Trade payables

2,527,895

2,527,895

(b) Other current liabilities

8,491,084

8,650,987

(c) Tax Liabilities (Net)

84,452

84,452

Total Equity and Liabilities

211,138,173

216,769,653

Particulars

2021

2020

Revenue From Operations

1,183,059

1,464,367

Other Income

-

1,905

Total Income

1,183,059

1,466,272

EXPENSES

Employee benefits expense

586,300

814,047

Finance costs

1,418

-

Depreciation and amortization expense

-

872

Other expenses

656,917

418,854

Total expenses

1,244,635

1,233,773

Profit/(loss) before exceptional items and tax

-61,576

232,499

Profit/(loss) before tax

-61,576

232,499

Tax expense:

(1) Current tax

-

59,282

(2) Deferred tax

-

-705

(3) Income tax Adjustment

-

6,961

Profit (Loss) for the period from continuing operations

-61,576

166,962

Total Comprehensive Income for the period (Comprising Profit (Loss) and Other Comprehensive Income for the period

-61,576

166,962

Earnings per equity share (Face Value of Rs. 10/- each)

(1) Basic

-0.003

0.009

(2) Diluted

-0.003

0.009

Particulars

2021

2020

(A)CASH FLOW FROM OPERATING ACTIVITIES:

Net profit before tax

-61,576

232,499

Adjustment for:

Add: Depreciation & Amortization Expenses

-

872

Operating Profit before Working capital changes

-61,576

233,371

Working Capital Changes:

Decrease (Increase) in Trade & Other Receivables

-

1,090,000

Decrease (Increase) in Other Current Assets

-94,786

90,211

Increase (Decrease) in Other Current Liabilities

-159,903

146,900

Net Changes in Working Capital

-254,689

1,327,111

Cash Generated from Operations

-316,265

1,560,482

Adjustment of Taxes

-

109,643

Net Cash Flow from Operating Activities (A)

-316,265

1,450,839

(B.) CASH FLOW FROM INVESTING ACTIVITIES :

Non Current Financial Assets

(Increase) Decrease in Loans & Advances

2,485,000

-

Current Financial Assets

(Increase) Decrease in Loans & Advances

3,331,609

-1,294,431

Net Cash Flow from Investing Activities (B)

5,816,609

-1,294,431

(C.) CASH FLOW FROM FINANCING ACTIVITIES :

Current Financial Assets

Increase / (Decrease) in Borrowings

-5,410,000

-

Net Cash Flow from Financing Activities (C)

-5,410,000

-

Net Increase / (Decrease) in Cash & Cash Equivalents ( A-B+C )

90,344

156,408

Cash and cash equivalents at the beginning of the year / Period

275,235

118,826

Cash and cash equivalents at the end of the year/ Period

365,577

275,235