Hella Infra Market Limited (Hella Infra) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Hella Infra Market Limited

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

Particulars	31-03-2025	31-03-2024
Non-current assets
Plant, property and equipment	31,692.74	11,617.66
Investment property	1.07	-
Right of use	6,126.84	4,472.16
Capital work in progress	2,933.18	2,169.49
Goodwill	20,107.89	9,118.33
Other intangible assets	5,767.45	4,760.29
Intangible assets under development	3.10	12.70
Investments	644.01	1,157.49
Other financial assets	2,103.84	1,099.04
Deferred tax assets	507.26	581.96
Income tax assets	207.34	199.04
Other non-current assets	575.05	1,150.09
Current assets
Inventories	9.583.51	4,895.80
Investments	209.22	189.09
Trade receivables	62,447.41	52,394.09
Cash and cash equivalent	7,405.39	3,083.05
Bank balances other than cash and cash equivalent	2,989.30	4,064.79
Loans	375.26	10.00
Other financial assets	4,794.85	1,436.14
Other current assets	6,648.85	4,785.71
Total assets	1,65,401.25	1,07,416.92
Equity and liabilities
Equity
Equity share capital	3.54	3.54
Instrument entirely equity in nature	17.35	13.14
Other equity	55,204.07	29,472.35
Non controlling interest	7,746.15	4,493.76
Liabilities
Noncurrent liabilities
Borrowings	16,675.16	14,548.37
Lease liabilities	3,981.66	3,242.05
Provisions	241.02	70.77
Deferred tax liability	929.98	919.41
Current liabilities
Borrowings	43,886.12	25,049.09
Lease liabilities	954.11	732.19
Total outstanding dues of micro and small enterprises	4,021.56	1,572.47
Total outstanding dues other than above	23,771.31	23,319.81
Other financial liabilities	4,327.33	1,616.46
Other current liabilities	1,641.16	998.90
Provisions	373.11	259.03
Current tax liability	1,027.62	1,105.58
Total equity and liabilities	1,65,401.25	1,07,416.92

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

Particulars	31-03-2025	31-03-2024
Income
Revenue from Operations	1,84,719.43	1,45,302.35
Other Income	838.38	2,132.15
Total Income	1,85,557.81	1,47,434.50
Expenses
Cost of material consumed	54,024.18	26,283.26
Purchase of stock in trade	84,407.61	91,477.85
Change in inventories of finished goods, work in progress and stock in trade	-924.04	-772.92
Employee benefits expense	5,636.86	3,993.58
Finance costs	8,048.31	5,540.15
Depreciation & amortization expense	4,455.64	2,168.12
Other Expenses	26,847.59	14,033.68
Total Expenses	1,82,496.15	1,42,723.72
Profit before tax and share of profit of an associate	3,061.66	4,710.78
Share of net loss of an associate	-	-228.81
Profit/Loss Before Tax	3,061.66	4,481.97
Current Tax	1,573.81	988.29
Deferred Tax	-709.59	-286.70
Profit/ Loss for the period	2,197.44	3,780.38
Other comprehensive income
Item that will not be reclassified to profit or loss :
Loss on fair value of defined benefit plan	5.57	-1.98
Income tax relating to items above	2.38	0.36
Share of other comprehensive income/(loss) for associate	-	0.70
Items to be reclassified subsequently to profit/loss
Translation exchange gain relating to foreign operations	25.56	30.66
Total comprehensive income for the period	2,230.95	3,810.12
Earning per share
Basic	2456.35	4,359.57
Diluted	2349.48	4142.30

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

Particulars	31-03-2025	31-03-2024
Cash Flow from Operating Activities
Net Profit/(loss) Before Tax	3,061.66	4,481.97
Adjustments:
Depreciation and amortization and impairment	4,455.64	2,168.12
Interest expense on financial liabilities measured at amortised cost	-18.06	-13.57
Finance costs	8,048.31	5,540.15
Interest income	-498.10	-381.25
Gain on modification of liabilities	-214.95	-24.03
Loss on sale of property, plant & equipment	121.22	25.88
Fair value gain on investment in associate	-	-1,685.88
Fair value gain on current investment	-13.06	-8.35
Gain on sale of current investment	-0.62	-11.19
Allowance for expected credit loss	1,079.84	884.08
Provisions for doubtful advances/deposits	69.37	246.18
Provisions for CSR	89.71	65.28
Share of net loss of an associate	-	228.81
Share based payment to employees	398.11	467.70
Unrealised foreign exchange loss/(gain)	10.98	-22.88
Loss of currency futures and options	-	0.91
Sundry balances written (back)/off	-80.85	-16.13
Working capital adjustments:
Increase in Trade receivables	-6,299.90	-13,139.07
Increase in inventories	-1,816.73	-887.63
Decrease/(increase) in loan, other financial assets, other non-current & current assets	-1,048.17	492.91
Increase in trade payables	-1,620.10	6,377.98
Increase in other financial liability, provisions and current liabilities	620.01	658.85
Cashflow generated from operations	6,344.31	5,448.84
Direct taxes paid	-1,181.22	-1,005.17
Net Cash from/(used in) Operating Activities	5,163.09	4,443.67
Cash Flow from Investing Activities
Purchase of PPE, intangibles, WIP and intangible assets under development	-14,312.83	-6,417.51
Proceeds from sale of PPE, intangible assets and assets held for sale	552.15	199.98
Purchase consideration paid towards business combination	-3,647.44	-4,545.86
Purchase of other non -current investment	-111.40	-1,056.67
Redemption of debentures	-	555.00
Proceeds from dilution of stake in subsidiary	1,177.77	1,667.12
(investments)/proceeds from sale of current investments	31.09	261.32
Fixed deposits placed with banks	-2,328.46	-358.15
Loan given	-65.26	-10.00
Interest received	498.10	354.76
Net Cash from / (used in) Investing Activities	-18,206.28	-9,350.01
Cash Flow from Financing Activities
Proceeds from Issue of share capital	10,906.23	-7.60
Proceeds from long term borrowings	18,342.74	20,216.60
Proceeds from current borrowings	8,141.69	231.79
Repayment of long term borrowing	-11,936.38	-10,006.57
Principle repayment of lease liabilities	-820.19	-990.05
Finance cost paid	-7,196.46	-4,985.51
Net Cash from/(used in) Financing Activities	17,437.63	4,458.66
Net Increase/decrease in Cash & cash equivalents	4,394.44	-447.68
Cash and cash equivalents at the beginning of the year	1,727.59	2,175.72
Cash and cash equivalents at the end of the year	6,171.39	1,727.59

Summary of the Cash Flow Statement for the years 2025 and 2024:

Cash Flow from Operating Activities

The company generated strong operating cash flows of ₹5,163.09 million in FY 2025, compared to ₹4,443.67 million in FY 2024, reflecting an improvement in core cash generation. Although profit before tax declined to ₹3,061.66 million from ₹4,481.97 million, substantial non-cash adjustments such as depreciation and impairment (₹4,455.64 million), finance costs (₹8,048.31 million), and expected credit loss provisions (₹1,079.84 million) supported operating cash flow. However, working capital changes were largely adverse, particularly due to increases in trade receivables (₹6,299.90 million) and inventories (₹1,816.73 million). Despite these pressures, the company maintained healthy positive operating cash flows, indicating strong underlying operational capacity.

Cash Flow from Investing Activities

Net cash used in investing activities increased significantly to ₹18,206.28 million in FY 2025 compared to ₹9,350.01 million in FY 2024. The major outflow was on purchase of property, plant, equipment, and intangible assets amounting to ₹14,312.83 million, indicating aggressive capital expenditure and expansion. Additionally, ₹3,647.44 million was paid towards business combinations. Although there were inflows from dilution of stake in subsidiaries (₹1,177.77 million) and interest received (₹498.10 million), these were insufficient to offset the heavy investments. This reflects a strong growth and expansion strategy during the year.

Cash Flow from Financing Activities

Financing activities generated a substantial net inflow of ₹17,437.63 million in FY 2025, significantly higher than ₹4,458.66 million in FY 2024. The company raised ₹10,906.23 million through issue of share capital and ₹18,342.74 million from long-term borrowings, along with ₹8,141.69 million in current borrowings. These inflows were partially offset by repayment of borrowings (₹11,936.38 million) and finance cost payments (₹7,196.46 million). The strong financing inflow indicates reliance on both equity and debt funding to support expansion and capital expenditure.

Overall Cash Position

Due to strong operating performance and significant financing inflows, the company reported a net increase in cash and cash equivalents of ₹4,394.44 million in FY 2025, compared to a decrease of ₹447.68 million in FY 2024. Closing cash balance rose substantially to ₹6,171.39 million from ₹1,727.59 million at the beginning of the year.