Haileyburia Tea Estates Ltd Annual Report and Financials

Haileyburia Tea Estates Limited Balance Sheet (Rs in Thousands)

Haileyburia Tea Estates Limited Profit & Loss Statement (Rs in Thousands)

Haileyburia Tea Estates Limited Consolidated Cash Flow Statement (Rs in Thousands)

Here is the analysis of cash flow for year March 2023 and 2022:

Cash Flow from Operating Activities

Net profit before taxation and extraordinary items:

31-03-2023: -49,797.57

31-03-2022: -50,608.94

This represents the net loss before taxes and extraordinary items. The company incurred losses in both years, with a slight improvement in 2023.

Adjustments for:

Depreciation:

31-03-2023: 2,706.41

31-03-2022: 3,431.78

Depreciation expense decreased, indicating lower allocation of costs of tangible assets over their useful lives.

Interest paid:

31-03-2023: 20,673.42

31-03-2022: 18,349.89

Interest expenses increased, indicating higher borrowings or increased interest rates.

Miscellaneous income:

31-03-2023: -776.50

31-03-2022: -2,196.14

Miscellaneous income decreased, reducing the negative impact on cash flows.

Dividend & other income:

31-03-2023: -167.61

31-03-2022: -57.00

This income increased, though still a relatively small amount, it helped offset some expenses.

Operating profit before working capital changes:

31-03-2023: -27,361.85

31-03-2022: -31,080.41

The operating loss decreased, showing an improvement in operating performance.

Adjustments for working capital changes:

Decrease in trade receivables:

31-03-2023: 4,269.08

31-03-2022: 939.21

Improved collection of receivables or reduced sales on credit.

Increase/ decrease in other receivables:

31-03-2023: -603.22

31-03-2022: 2,413.75

Increase in other receivables in 2023, which is a negative impact on cash flow.

Decrease in inventories:

31-03-2023: 20,495.19

31-03-2022: 1,432.15

Significant reduction in inventories, positively impacting cash flow.

Increase in trade payable:

31-03-2023: 6,044.85

31-03-2022: 3,892.32

Increased trade payables, indicating better credit terms from suppliers.

Increase in other payable:

31-03-2023: 9,838.86

31-03-2022: 26,665.64

Significant increase in other payables, providing more cash for operations.

Cash generated from operations:

31-03-2023: 12,682.91

31-03-2022: 4,262.66

Significant improvement in cash generation from operations.

Less income tax paid:

31-03-2023: 191.47

31-03-2022: 914.67

Lower income tax payments in 2023, freeing up more cash.

Cash flow before exceptional items:

31-03-2023: 12,491.44

31-03-2022: 3,347.99

Improved cash flow before considering exceptional items.

Proceeds from exceptional item:

31-03-2023: 11,337.97

31-03-2022: -

In 2023, the company received a significant exceptional item which greatly boosted cash flow.

Net cash from operating activities:

31-03-2023: 23,829.41

31-03-2022: 3,347.99

The net cash from operating activities saw a substantial increase due to better operational performance and the exceptional item.

Cash Flow from Investing Activities

Purchase of fixed assets:

31-03-2023: -246.85

31-03-2022: -4,613.88

Decreased investment in fixed assets in 2023, conserving cash.

Sale of fixed assets/ adjustment:

31-03-2023: -

31-03-2022: 5,217.86

No sale of fixed assets in 2023 compared to significant proceeds in 2022.

Miscellaneous income:

31-03-2023: 776.50

31-03-2022: 2,196.14

Decreased miscellaneous income in 2023.

Rental income:

31-03-2023: 167.61

31-03-2022: 57.00

Increased rental income, although still a small amount.

Net cash used in investing activities:

31-03-2023: 697.26

31-03-2022: 2,857.12

Cash used in investing activities decreased, indicating lower capital expenditures.

Cash Flow from Financing Activities

Proceeds from borrowings:

31-03-2023: -3,760.22

31-03-2022: 11,446.01

Negative value indicates repayment of borrowings in 2023 compared to new borrowings in 2022.

Interest paid:

31-03-2023: -20,673.42

31-03-2022: -18,349.89

Increased interest payments due to higher borrowings or interest rates.

Net cash used from financing activities:

31-03-2023: -24,433.64

31-03-2022: -6,903.88

Higher outflow of cash in financing activities due to repayment of borrowings and higher interest payments.

Net Increase/ Decrease in Cash & Cash Equivalents

Net decrease/ increase in cash & cash equivalents:

31-03-2023: 93.03

31-03-2022: -698.75

Slight increase in cash and cash equivalents in 2023 compared to a decrease in 2022.

Cash & cash equivalents at beginning of year:

31-03-2023: 114.81

31-03-2022: 813.56

Starting cash balance for each respective year.

Cash & cash equivalents at close of year:

31-03-2023: 207.84

31-03-2022: 114.81

Ending cash balance for each respective year, showing an increase in 2023.

Financial Ratios of Haileyburia Tea Estates Limited

Here is the summary of financial and operational metrics for Haileyburia Tea Estates Limited for year 2023 & 2022:

Liquidity Ratios

Current Ratio:

2023: 0.16

2022: 0.27

This ratio measures the company 's ability to pay short-term obligations with its current assets. A ratio below 1 indicates potential liquidity issues. The decrease from 0.27 to 0.16 suggests a worsening liquidity position.

Solvency Ratios

Debt Service Coverage Ratio (DSCR):

2023: -2.03

2022: -1.18

This ratio indicates the company’s ability to service its debt with its operating income. Negative values indicate that the company is not generating enough operating income to cover its debt obligations, and the situation has worsened from 2022 to 2023.

Profitability Ratios

Return on Equity (ROE):

2023: -2.44

2022: -3.21

ROE measures the profitability of a company in generating income from shareholders ' equity. Negative values indicate losses. The improvement from -3.21 to -2.44 suggests a reduction in the rate of losses.

Net Profit Ratio:

2023: -0.2

2022: -0.16

This ratio measures net income as a percentage of revenue. The further decline from -0.16 to -0.2 indicates a deeper loss relative to revenue.

Return on Capital Employed (ROCE):

2023: -0.08

2022: -0.09

ROCE measures the profitability and efficiency of capital investments. The negative values indicate losses, but the slight improvement from -0.09 to -0.08 shows a marginally better utilization of capital.

Efficiency Ratios

Inventory Turnover Ratio:

2023: 8.05

2022: 5.91

This ratio measures how quickly inventory is sold and replaced. An increase from 5.91 to 8.05 suggests improved efficiency in managing and selling inventory.

Trade Receivable Turnover Ratio:

2023: 13.67

2022: 13.01

This ratio measures how effectively the company collects receivables. An increase indicates better efficiency in collecting credit sales.

Trade Payable Turnover Ratio:

2023: 3.00

2022: 5.57

This ratio measures how quickly the company pays off its suppliers. A decrease from 5.57 to 3.00 suggests that the company is taking longer to pay its suppliers, which might be a sign of liquidity issues.

Net Capital Turnover Ratio:

2023: -0.96

2022: -1.34

This ratio measures the efficiency of net capital in generating revenue. Negative values indicate that the company is generating less revenue than its net capital. The improvement from -1.34 to -0.96 shows better but still negative efficiency.

Dividend History

Haileyburia Tea Estates Limited Recent Financial Performance:

Dividend per Share: The specific dividend per share figure for March 2023 and 2022 is not provided; 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 2023 amounted to Rs. -225,521.76 Thousands, while in 2022, they were Rs. -187,043.42 Thousands. 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.