Goa Shipyard Annual Reports, Balance Sheet and Financials

Goa Shipyard Limited Balance Sheet (Rs in Lakhs)

Goa Shipyard Limited Profit & Loss Statement (Rs in Lakhs)

 Goa Shipyard Limited 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: The company reported a substantial increase in net profit after tax to Rs. 36,463.37 lakhs in 2024, compared to Rs. 20,501.06 lakhs in 2023. This strong performance was further adjusted for several non-cash items and operational adjustments. Depreciation and amortization expenses increased to Rs. 7,489.54 lakhs from Rs. 6,185.49 lakhs, reflecting higher non-cash expenses due to increased asset base. Interest income surged to Rs. -31,465.73 lakhs from Rs. -15,704.13 lakhs, indicating a significant increase in investment income. Finance costs decreased slightly to Rs. 38.91 lakhs from Rs. 46.50 lakhs. After accounting for profit on the sale of fixed assets and unwinding of grant income, the operating profit before working capital changes was Rs. 8,135.28 lakhs, up from Rs. 6,401.16 lakhs in the previous year.

Significant changes in working capital included an increase in inventories to Rs. -25,457.23 lakhs (from Rs. -6,616.01 lakhs), a rise in trade receivables to Rs. 5,803.13 lakhs (from Rs. 2,079.79 lakhs), and a decrease in trade payables to Rs. 4,705.79 lakhs (from Rs. 14,183.64 lakhs). Other adjustments involved substantial changes in other current assets, financial liabilities, and provisions. The cash generated from operations was Rs. 67,048.61 lakhs, a decrease from Rs. 1,13,936.08 lakhs, and after taxes paid (net of refunds), net cash from operating activities was Rs. 53,589.00 lakhs, down from Rs. 1,07,484.66 lakhs, reflecting a decrease in operational cash flow despite higher net profit.

Cash Flows from Investing Activities: In investing activities, the company invested Rs. 13,558.12 lakhs in property, plant, and equipment, a decrease from Rs. 27,997.16 lakhs in the previous year. There was a minor gain from the sale of property, plant, and equipment amounting to Rs. 22.35 lakhs. The capital work in progress decreased to Rs. 10,551.15 lakhs from Rs. 22,225.42 lakhs. The redemption of fixed deposits with maturities of more than 3 months was Rs. -29,551.73 lakhs, a decrease from Rs. -75,862.27 lakhs in the prior year. Interest income from investments increased to Rs. 26,837.12 lakhs from Rs. 13,452.28 lakhs. Overall, the net cash used in investing activities was Rs. -5,699.23 lakhs, a substantial improvement from Rs. -64,794.11 lakhs, indicating a more efficient investment strategy and reduced cash outflows for investments.

Cash Flows from Financing Activities: In financing activities, the repayment of lease liabilities was Rs. -85.11 lakhs, slightly up from Rs. -80.26 lakhs. Dividend payments increased to Rs. -7,740.85 lakhs from Rs. -5,645.58 lakhs, reflecting higher distributions to shareholders. Interest paid decreased to Rs. -38.91 lakhs from Rs. -46.50 lakhs. Consequently, net cash used in financing activities was Rs. -7,864.87 lakhs, compared to Rs. -5,772.34 lakhs, indicating higher cash outflows related to dividends and lease repayments.

Net Increase/Decrease in Cash and Cash Equivalents: The net increase in cash and cash equivalents was Rs. 40,024.90 lakhs, compared to Rs. 36,918.21 lakhs in the previous year, reflecting positive cash flow despite significant cash outflows. The closing cash and cash equivalents stood at Rs. 89,334.59 lakhs, up from Rs. 49,309.69 lakhs at the beginning of the year.

Financial Ratios of Goa Shipyard Limited

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

Current Ratio: The current ratio remained steady at 1.18 times for both 2024 and 2023. This consistent ratio indicates that the company’s liquidity position, or its ability to cover short-term liabilities with short-term assets, has not changed year-over-year. A current ratio of 1.18 implies that for every Rs. 1 of current liabilities, the company has Rs. 1.18 in current assets, suggesting stable short-term financial health.

Return on Equity (ROE): The return on equity ratio increased significantly to 20.22% in 2024 from 12.91% in 2023. This substantial improvement indicates that the company has become more effective in generating profits from shareholders ' equity. A higher ROE reflects enhanced profitability and efficient management of equity capital, resulting in better returns for shareholders.

Trade Receivables Turnover Ratio: The trade receivables turnover ratio improved to 11.71 times in 2024 from 7.33 times in 2023. This improvement signifies that the company is more efficient in collecting its receivables, converting them into cash at a faster rate. An increase in this ratio suggests better credit management and quicker collection of outstanding invoices.

Trade Payable Turnover Ratio: The trade payable turnover ratio increased slightly to 5.86 times in 2024 from 5.36 times in 2023. This indicates that the company is paying off its trade payables more frequently within the year. A higher ratio suggests that the company is either more proactive in settling its supplier payments or it might reflect improved cash flow management.

Net Capital Turnover Ratio: The net capital turnover ratio improved to 2.05 times in 2024 from 1.23 times in 2023. This increase shows that the company is utilizing its net capital more effectively to generate revenue. A higher ratio indicates improved operational efficiency and a better ability to generate sales from its capital investments.

Net Profit Ratio: The net profit ratio decreased to 15.48% in 2024 from 17.78% in 2023. This decline suggests a reduction in the proportion of revenue converted into net profit, despite overall profitability. Factors contributing to this decrease could include higher expenses or increased competition impacting profit margins.

Return on Capital Employed (ROCE): The return on capital employed ratio rose to 25.27% in 2024 from 16.27% in 2023. This significant increase reflects a more effective use of capital in generating profits. A higher ROCE indicates that the company is utilizing its capital more efficiently to generate returns, signaling strong performance in capital management.