Hella Infra Market Annual Reports, Balance Sheet and Financials

Hella Infra Market Limited Consolidated Balance Sheet (Rs in Millions)

Particulars	31-03-2024	31-03-2023
Non-Current Assets
Property, Plant and equipment	16,289.82	7,025.63
Capital WIP	2,169.49	813.55
Goodwill	9,118.33	5,056.10
Other Intangible assets	4,760.29	1,590.10
Intangible assets under development	12.70	-
Investments accounted for using equity method	-	2,818.27
Non-Current Investments	1,157.49	100.80
Non-Current Loans	-	37.87
Other non-current financial assets	1,096.25	1,306.18
Deferred Tax Assets	581.96	270.12
Other non-current assets	1,349.13	256.76
Current Assets
Inventories	4,895.80	2,631.71
Current investments	189.09	430.87
Trade receivables, current	52,394.09	39,221.02
Cash and cash equivalents	3,269.11	2,494.44
Bank balance other than cash and cash equivalents	4,880.13	3,854.41
Loans, Current	10.00	11.87
Other current financial assets	457.53	251.23
Other Current Assets	4,785.70	4,684.28
Total Assets	1,07,416.91	72,855.21
Equity
Equity Share Capital	3.54	3.54
Other Equity	29,472.34	25,203.73
Non-Controlling Interest	4,506.92	13.16
Non-Current Liabilities
Non-Current Borrowings	14,598.12	5,347.43
Other non-current financial liabilities	3,242.05	1,259.23
Provisions, non-current	70.77	0.51
Deferred tax liabilities (net)	919.41	-
Current Liabilities
Borrowings, current	24,999.34	21,088.57
Trade payables, current	25,210.68	17,006.43
Other current financial liabilities	1,886.67	1,164.97
Other Current Liabilities	1,142.47	793.16
Provisions, current	259.03	159.81
Current tax liabilities	1,105.57	814.67
Total Equity and Liabilities	1,07,416.91	72,855.21

 Hella Infra Market Limited Consolidated Profit & Loss Statement (Rs in Millions)

Particulars	31-03-2024	31-03-2023
Income
Revenue from operations	1,45,302.35	1,18,465.50
Other income	2132.15	442.79
Total income	1,47,434.50	1,18,908.29
Expenses
Cost of materials consumed	26,283.26	17,217.51
Purchases of stock-in-trade	91,320.44	82,926.12
Changes in inventories of finished goods, WIP & stock-in-trade	-772.92	-595.03
Employee benefit expense	3,993.58	2,788.02
Finance costs	5,749.66	3,379.55
Depreciation, depletion and amortisation expense	2,168.12	1,787.49
Other expenses	13,981.58	8,572.71
Total expenses	1,42,723.72	1,16,076.37
Profit before exceptional items and tax	4,710.78	2,831.92
Exceptional items before tax	-288.81	-90.33
Total profit before tax	4481.97	2,741.59
Current tax	988.29	1,285.43
Deferred tax	-286.7	-96.68
Total profit (loss) for period	3780.38	1552.84
Other comprehensive income
Other comprehensive income, net of tax, gains/loss on re-measurements of defined benefit plans	-1.62	-1.91
Share of other comprehensive income of associates & joint ventures	0.7	1.12
Total other comprehensive income that will not be reclassified to P&L, net of tax	-0.92	-0.79
Total other comprehensive income that will be reclassified to P&L, net of tax	30.66	32.96
Total other comprehensive income	29.74	32.17
Total comprehensive income	3,810.12	1,585.01
Earnings Per Share
Basic	4,365.91	1,795.00
Diluted	4,148.33	1,715.13

 Hella Infra Market Limited Consolidated Cash Flow Statement (Rs in Millions)

Particulars	31-03-2024	31-03-2023
Cash Flow from Operating Activities
Profit before Tax	4,481.97	2,741.59
Adjustment for reconcile profit (Loss):
Adjustments for finance costs	5,768.95	3,397.74
Adjustments for decrease (increase) in inventories	-887.63	-826.59
Adjustments for decrease (increase) in trade receivables, current	-13,139.07	-14,165.70
Adjustments for other financial assets, current	492.91	-11.44
Adjustments for increase (decrease) in trade payables, current	6,377.98	9,740.46
Adjustments for depreciation and amortisation expense	2,193.73	1,811.96
Adjustments for other financial liabilities, current	633.24	789.51
Adjustments for unrealised foreign exchange losses gains	-22.88	-0.70
Adjustments for interest income	394.82	348.15
Adjustments for fair value losses (gains)	-19.54	-68.15
Other adjustments to reconcile profit (loss)	-102.53	1,323.22
Other adjustments for non-cash items	295.33	182.79
Total adjustments for reconcile profit (loss)	1,195.67	1,824.95
Net cash flows from (used in) operations	5,677.64	4,566.54
Income taxes paid (refund)	1,005.17	514.12
Net Cash Flow From Operating Activates	4,672.47	4,052.42
Cash Flow from Investing Activities
Proceeds from sales of property, plant and equipment	199.98	64.35
Purchase of property, plant and equipment	6,417.51	5,514.55
Interest received	354.76	160.55
Other inflows (outflows) of cash	-3,301.18	-1,703.84
Net Cash Flow From Investing Activities	-9,163.95	-6,993.49
Cash Flow from Financing Activities
Proceeds from issuing shares	-	1,053.27
Proceeds from borrowings	21,285.77	10,932.31
Repayments of borrowings	10,006.57	4,319.06
Payments of lease liabilities	990.05	498.70
Other inflows (outflows) of cash	-5,221.91	-3,103.38
Net Cash Flow From Financing Activities	5,067.91	4,064.44
Net Increase /(Decrease) In cash & Cash Equivalents before effects of exchange rate changes	575.76	1,123.37
Effect of exchange rate changes on cash and cash equivalents	-0.45	-0.27
Net increase (decrease) in cash and cash equivalents	575.31	1,123.10
Cash  & Cash equivalents at the end of the Year	2,751.03	2,175.72

As a result, the cash and cash equivalents at the end of FY24 stood at ₹2,751.03 million, up from ₹2,175.72 million at the end of FY23. Although the cash increase in FY24 was lower than the previous year, the company still managed to maintain a healthy liquidity position despite heavy investments and rising debt levels.

 

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

Cash Flow from Operating Activities

In the financial year 2023–24, the company reported a Profit Before Tax of ₹4,481.97 million, a substantial increase from ₹2,741.59 million in the previous year, indicating improved business performance. To convert this accounting profit into actual cash flow, several adjustments were made. These include non-cash expenses such as depreciation and amortisation (₹2,193.73 million in FY24 vs ₹1,811.96 million in FY23), and finance costs (₹5,768.95 million in FY24 vs ₹3,397.74 million in FY23), which add back to cash flow.

There were also working capital adjustments, where the company experienced a significant increase in trade receivables (₹-13,139.07 million), which represents cash not yet collected from customers. However, this was partly offset by a large increase in trade payables (₹6,377.98 million), reflecting delayed payments to suppliers. Other key changes include adjustments in inventories (₹-887.63 million), other financial assets (₹492.91 million), and various smaller reconciling items. After incorporating all adjustments, the total reconciliations amounted to ₹1,195.67 million for FY24, down from ₹1,824.95 million in FY23.

As a result, the net cash generated from operations before taxes was ₹5,677.64 million in FY24, compared to ₹4,566.54 million in FY23. After deducting income taxes paid (₹1,005.17 million), the net cash flow from operating activities stood at ₹4,672.47 million, which is an increase over ₹4,052.42 million in the previous year. This indicates that the company 's core operations are generating healthy and increasing cash inflows.

Cash Flow from Investing Activities

Investing activities resulted in net cash outflows, showing the company 's continued investment in its long-term growth. The company spent ₹6,417.51 million on the purchase of property, plant, and equipment in FY24, higher than ₹5,514.55 million in FY23. This could indicate expansion or upgrade of production capacity or infrastructure. The proceeds from the sale of fixed assets were relatively minor at ₹199.98 million in FY24. The company earned ₹354.76 million in interest income, up from ₹160.55 million in FY23, indicating higher interest-earning assets or deposits.

There was a notable outflow of ₹3,301.18 million under "other inflows/outflows of cash" in FY24, significantly higher than the ₹1,703.84 million in FY23. These figures likely include investments in financial instruments or other long-term assets. Altogether, the net cash used in investing activities was ₹-9,163.95 million in FY24, compared to ₹-6,993.49 million in FY23, indicating higher capital expenditure and investment.

Cash Flow from Financing Activities

To support its operational and investment needs, the company significantly increased its reliance on external financing. Proceeds from borrowings surged to ₹21,285.77 million in FY24, compared to ₹10,932.31 million in FY23. This reflects a strong inflow of debt capital. On the other hand, repayment of borrowings also increased to ₹10,006.57 million (from ₹4,319.06 million), indicating active debt management. Lease liabilities paid were ₹990.05 million. Notably, there were no proceeds from issuing shares in FY24, whereas in FY23, ₹1,053.27 million was raised from equity issuance.

There were significant outflows under other financing activities totaling ₹-5,221.91 million in FY24, which could include interest payments, dividends, or other financial commitments, compared to ₹-3,103.38 million in FY23. After accounting for all financing-related movements, the net cash flow from financing activities was ₹5,067.91 million in FY24, compared to ₹4,064.44 million in FY23.

Net Cash Movement and Closing Balance

Combining all the above, the company reported a net increase in cash and cash equivalents of ₹575.76 million before the effect of exchange rate changes in FY24. After adjusting for a small loss of ₹0.45 million due to foreign exchange effects, the final net increase was ₹575.31 million, compared to ₹1,123.10 million in FY23.