Haldia Petrochemicals Limited Annual Report | Balance Sheet

Haldia Petrochemicals Limited (Haldia Petro) Return Comparision with Primex 40 Index

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Haldia Petrochemicals Limited

Haldia Petrochemicals Limited Balance Sheet (Rs in Millions)

Particulars	31-03-2024	31-03-2023
Non Current Assets
Property, Plant and Equipment	75,688	75,803
Capital Work-in-Progress	4,681	1,984
Right-of-Use Assets	35,850	22,888
Goodwill	5,980	5,980
Other Intangible Assets	6,160	12,828
Intangibles under development	8	5
Investments	52,275	55,846
Loans	4,544	4,495
Other Financial Assets	5,321	14,551
Income Tax Assets (Net)	553	435
Deferred Tax Assets (net)	-	1
Other Non-Current Assets	18,209	15,158
Current Assets
Inventories	16,014	15,613
Investments	6,671	15,647
Trade Receivables	5,137	3,723
Cash and Cash Equivalents	5,679	845
Bank balances other than above	17,972	2,699
Loans	4,751	5,375
Other Financial Assets	1,217	586
Other Current Assets	5,185	6,555
Total Assets	2,71,895	2,61,016
Shareholders’ Fund
Equity Share Capital	16,879	16,879
Other Equity	1,42,971	1,38,455
Non Current Liabilities
Borrowings	62,069	63,091
Lease Liabilities	288	341
Other Financial Liabilities	17	87
Provisions	249	205
Deferred Tax Liabilities (Net)	9,782	11,445
Current Liabilities
Borrowings	21,295	16,711
Lease Liabilities	93	86
Trade Payables
Total outstanding dues of Micro Enterprises and Small Enterprises	99	88
Total outstanding dues of creditors other than Micro Enterprises and Small Enterprises	12,833	9,126
Other Financial Liabilities	4,506	3,697
Provisions	34	37
Current Tax Liabilities (Net)	192	163
Other Current Liabilities	588	605
Total Equity and Liabilities	2,71,895	2,61,016

Haldia Petrochemicals Limited Profit & Loss Statement (Rs in Millions)

Particulars	31-03-2024	31-03-2023
Revenue from Operations	1,43,919	1,58,781
Other Income	5,041	1,455
Total Income	1,48,960	1,60,236
Expenses:
Cost of Materials Consumed	97,072	1,11,818
Purchases of Stock-in-Trade	19,704	13,119
Changes in inventories of finished goods, work-in-progress and By-products	(183)	2,141
Employee Benefits Expense	2,137	1,877
Finance Costs	7,485	5,292
Depreciation and Amortisation Expense	15,164	15,005
Other Expenses	21,958	21,089
Total Expenses	1,63,337	1,70,341
Loss before share of profit/(loss) of associates / joint ventures and exceptional items	(14,377)	(10,105)
Share of profit / (loss) of associates and joint ventures	(114)	103
Loss before exceptional items and tax	(14,491)	(10,002)
Exceptional Items	(1,218)	-
Loss before tax	(15,709)	(10,002)
Current Tax	900	569
Income Tax relating to earlier years	122	(122)
Deferred Tax	(6,447)	(3,442)
Loss for the year	(10,284)	(7,007)
Other Comprehensive Income
Items that will not be reclassified to profit or loss
Changes in revaluation surplus	19,264	-
Income tax on above	(4,778)	-
Remeasurement of defined benefit plans	(28)	10
Income tax on above	10	(3)
Share of OCI in associates and joint ventures	(30)	306
Items that may be reclassified to profit or loss
Exchange differences in translating the financial statements of foreign operations	495	991
(b) Income tax on above	(20)	(110)
(c) Share of OCI in associates and joint ventures	(114)	(50)
Total other comprehensive income	14,799	1,144
Total comprehensive income / (loss) for the year	4,515	(5,863)
Earnings per Equity Share [nominal value of share Rs 10/- Basic / Diluted	(6.09)	(4.15)

Haldia Petrochemicals Limited Consolidated Cash Flow Statement (Rs in Millions)

Particulars	31-03-2024	31-03-2023
Cash flow from operating activities
Loss before tax during the year (excluding share of (losses)/profit from associates / joint ventures	(15,595)	(10,105)
Adjustments for:
Depreciation and amortisation expense	15,164	15,005
Accrued Benefits under Government incentive schemes	(3,096)	(3,732)
Liabilities / provisions no longer required, written back	(77)	(527)
Interest income earned on Financial Assets that are not designated at fair value through Profit or Loss	(2,701)	(1,330)
Gain on Sale of Investments	(1,193)	(899)
Net (gain) / loss on foreign currency transactions and translation	42	314
Net (gain) / loss arising on financial liabilities designated as at FVTPL	10	75
Net (gain) / loss arising on financial assets measured at FVTPL	(868)	192
Net Exchange Differences on translation of Assets and Liabilities/ Income and Expenses	(191)	-
Provision for obsolete spares, doubtful debts and advances	13	489
Provision against fixed assets retired from active use	2	-
Loss on Sale / Retirement of Assets	-	245
Devaluation of Fixed Assets	(79)	-
Dividend income *	(2)	-
Finance Costs	7,485	5,292
Operating Profit before Working Capital changes:	(1,086)	5,019
Changes in working capital
Decrease / (Increase) in Trade Receivables, Loans, Other Financial Assets and Other assets	414	(1,543)
Decrease / (Increase) in Inventories	(401)	3,247
Increase in Trade Payables, Other Financial Liabilities, Provisions and Other liabilities	5,534	(2,185)
Cash generated from operations	4,461	4,538
Net Income Taxes (paid)/refunded	(1,114)	909
Net cash flow generated from operating activities	3,347	5,447
Cash flow from investing activities
Payments for Property, Plant and Equipment, Intangibles, etc	(4,535)	(2,545)
Proceeds from sale of Plant Property and Equipment, etc	351	448
Purchase of current investments	(47,596)	(1,01,326)
Purchase of Non-current investments	(514)	-
Proceeds from sale / maturity of current investments	57,768	1,09,450
Proceeds from sale / maturity of Non-current investments	5,418	-
Investments in bank deposits (having original maturity of more than three months)	(9,775)	(10,950)
Bank deposits redeemed / placed - net (having original maturity of more than three months)	3,821	134
Investments in bank deposits (having original maturity of more than twelve months)	-	(1,533)
Bank deposits redeemed (having original maturity of more than twelve months)	-	776
Loan given to Related Parties	-	(1,238)
Loan repaid by Related Parties	700	67
Interest received	2,197	1,045
Net cash flow generated from/ (used in) investing activities	7,835	(5,672)
Cash flow from financing activities
Proceeds from Long Term borrowings	31,346	24,855
Repayment of Long Term Borrowings	(31,380)	(23,806)
Proceeds from Short Term borrowings	75,020	52,128
Repayment of Short Term Borrowings	(73,524)	(50,817)
Interest Paid	(7,690)	(5,018)
Payment of Lease Liabilities	(120)	(137)
Net cash flow (used in) financing activities	(6,348)	(2,795)
Net increase / (decrease) in cash and cash equivalents	4,834	(3,020)
Cash and cash equivalents at the beginning of the year	846	3,866
Cash and cash equivalents at the end of the year	5,680	846

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

Cash Flow from Operating Activities

The cash flow from operating activities experienced a decrease from Rs. 5,447 million in 2023 to Rs. 3,347 million in 2024. This was primarily due to a loss before tax of Rs. 15,595 million, which exceeded the prior year's loss of Rs. 10,105 million. However, adjustments such as depreciation and amortization expenses (Rs. 15,164 million) and finance costs (Rs. 7,485 million) added back substantial amounts to operating cash flow. Working capital adjustments further supported cash flow, with a significant increase in trade payables and other liabilities adding Rs. 5,534 million. Despite these positive adjustments, the net cash flow from operations saw a decline, influenced by increased operating losses and taxes paid of Rs. 1,114 million compared to a tax refund of Rs. 909 million in the previous year.

Cash Flow from Investing Activities

Investing activities saw a substantial net inflow of Rs. 7,835 million in 2024, a significant improvement from the previous year's outflow of Rs. 5,672 million. Key contributions to this positive cash flow included proceeds from the sale of current investments amounting to Rs. 57,768 million and proceeds from non-current investments at Rs. 5,418 million. Although there were considerable outflows, such as purchases of current investments (Rs. 47,596 million) and investments in bank deposits (Rs. 9,775 million), the overall net effect was favorable. Additionally, property and equipment purchases required Rs. 4,535 million, up from Rs. 2,545 million, reflecting capital investment in assets.

Cash Flow from Financing Activities

The cash flow from financing activities was a net outflow of Rs. 6,348 million in 2024, significantly higher than the previous year's outflow of Rs. 2,795 million. This increase in outflow was due to higher interest payments (Rs. 7,690 million, up from Rs. 5,018 million), alongside repayments of both long-term (Rs. 31,380 million) and short-term borrowings (Rs. 73,524 million), which exceeded new borrowings. The proceeds from short-term borrowings reached Rs. 75,020 million, reflecting the company’s continued reliance on short-term financing despite increased repayment requirements.

Net Increase / Decrease in Cash & Cash Equivalents

The company ended the year with a net increase in cash and cash equivalents of Rs. 4,834 million, a turnaround from the prior year's decrease of Rs. 3,020 million. Starting the year with a cash balance of Rs. 846 million, the company closed at Rs. 5,680 million. This improvement was driven by strong net inflows from investing activities, which offset the decreased operating cash flow and the outflow in financing activities.

Haldia Petrochemicals Limited Annual Report, Balance Sheet, Financials

Haldia Petrochemicals Limited (Haldia Petro) Return Comparision with Primex 40 Index

Haldia Petrochemicals Limited Balance Sheet (Rs in Millions)

Haldia Petrochemicals Limited Profit & Loss Statement (Rs in Millions)

Haldia Petrochemicals Limited Consolidated Cash Flow Statement (Rs in Millions)

Haldia Petrochemicals Annual Report

Haldia Petrochemicals Annual Report 2023-24

Haldia Petrochemicals Annual Report 2021-22

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