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Hero FinCorp Annual Reports, Balance Sheet and Financials

Hero FinCorp Limited (Hero Fincorp) Return Comparision with Primex 40 Index

Periods 1 Week 1 Month 3 Months 6 Months 1 Year 3 Years All Time
Primex-40
Hero FinCorp Limited

Hero Fincorp Balance Sheet (Rs in Lakhs)

Particulars

31-03-2024

31-03-2023

Assets

 

 

Financial Assets

 

 

Cash and Cash equivalents

98.78

750.01

Bank Balance other than cash and cash Equivalents

59.07

41.22

Derivative Financial instruments

133.72

115.82

Trade receivables

4.92

1.3

Loans

49,880.47

39,871.27

Investments

1,895.96

1747.49

Other financial assets

192.01

189.63

Non-Financial Liabilities

 

 

Current Tax assets (net)

155.54

147.41

Deferred Tax assets (net)

369.02

376.15

Property, plant and equipment

181

67.59

Right to use assets

118.27

45.55

Intangible assets

27.17

19.15

Intangible assets under development

0.75

2.76

Other Non-financial assets

87.98

75.74

Total Assets

53,204.66

43,451.22

Equity And Liabilities

 

 

Equity share capital

127.31

127.31

Other Equity

5,638.66

5,116.13

Non-controlling interests

6.06

4.39

Financial Liabilities

 

 

Payables

439

498.5

Borrowings

35,840.39

26,612.99

Subordinated liabilities

3,625.37

3,267.79

Debt securities

6,703.72

6,747.08

lease liabilities

127.24

52.4

Other Financial liabilities

511.33

902.72

Non-Financial Liabilities

 

 

Tax Liabilities

40.85

1.03

Provisions

69.86

54.87

Other Non-financial liabilities

74.87

66.01

Total Equity And Liabilities

 53204.67

43,451.22

 

Hero Fincorp Profit & Loss Statement (Rs in Lakhs)

Particulars

31-03-2024

31-03-2023

Income

 

 

Revenue from Operations

 

 

Interest Income

7,479.38

5,719.60

Dividend Income

0.71

0.74

Profit on sale of investment (net)

64.7

85.63

Rental Income

-

0.11

Gain on derecognition of financial instruments under amortised cost category

21.28

23.13

Insurance commision

113.99

21.22

Other charges

610.84

551.17

Other Income

68.82

45.95

Total income

8,359.72

6,447.55

Expenses

 

 

Finance cost

3,097.36

2,173.95

Net loss on fair value changes

338.52

299.71

Impairment on financial instruments

1,722.39

1,212.23

Employee benefits expenses

692.71

542.15

Depreciation and amortization

65.96

37.93

other Expenses

1,482.23

1,446.36

Total Expenses

7,399.17

5,712.33

Profit Before tax

960.55

735.22

Current Tax

307.46

197.7

Deferred Tax/(credit) (net)

16.04

57.57

Profit After tax

637.05

479.95

Other Comprehensive Income/(loss)

-25.91

0.92

Total Comprehensive Income for the year, net of tax

611.14

480.87

Earnings Per equity share

 

 

Basic

50.04

37.7

Diluted

49.94

37.67

 

Hero Fincorp Consolidated Cash Flow Statement (Rs in Lakhs)

Particulars

31-03-2024

31-03-2023

Cash Flow from Operating Activities     

 

 

Profit/ (loss) before tax

960.55

735.22

Adjustment for:        

 

 

Interest Income

-7,477.66

-5,717.89

Finance Cost

3,097.36

2,173.96

 Depreciation and Amortisation Expense     

65.96

37.93

Impairment on financial instruments

1,722.40

1,212.23

Dividend income from investments

-0.71

-0.74

Discount on commercial paper

11.15

4.91

Employee share based payment expense

19.28

0.94

Net loss on sale of property, plant & equipment

0.74

1.6

Gain on derecognition of financial instruments under amortized cost category

-21.28

-23.13

Net loss/(gain) on fair value changes

338.52

299.71

Profit on sale of investments

-64.7

-85.63

Cash Inflow from interest on loans

7,218.91

5,379.03

Cash Inflow from interest on fixed deposits

8.93

21.24

Cash Outflow towards finance costs

-2,758.68

-1,805.09

Operating Profit Before Working Capital Changes    

3,120.77

2,234.29

Working Capital adjustments

 

 

Increase/Decrease in trade receivables

-8.77

0.67

Increase in loans

-11,580.68

-9,472.32

(Increase)/ decrease in bank balance other than cash and cash equivalents

-18.46

118.84

(Increase)/ decrease in other financial assets

18.92

-55.34

Increase in derivative financial instruments

-51.51

-115.13

Increase in other non financial assets

-16.54

-6.27

Increase/(decrease) in other financial liabilities

-395.06

393.3

Increase/(decrease) in trade payables

-54.38

193.74

Increase in other non financial liabilities

8.88

9.9

Increase in Provisions

13.78

7.22

Net cash used in operating activities before income tax      

-8,963.05

-6,691.10

Income Tax Paid (Net of refund) 

-275.78

-227.42

Net cash used in Operating activities 

-9,238.83

-6,918.52

Cash Flow from Investing Activities    

 

 

Purchase of Property, Plant, Equipment, and Other Intangible Assets

-160.65

-50.98

Proceeds from sale of property, plant and equipment

4.28

2.7

Dividend received

0.71

0.74

Interest received on Investments

114.14

51.94

Purchase of investments

-14,832.31

-17,590.26

Sale of investments

14,744.04

17,111.73

Net Cash generated from/ (Used in) Investing Activities (B)  

-129.79

-474.13

Cash Flow from Financing Activities    

 

 

Proceeds from conversion of partly paid equity shares to fully paid

0.02

-

Proceeds from the issue of equity Shares of subsidiary to non-controlling interest

0.61

1.81

Proceeds from issue of compulsorily convertible preference shares

-

2,000

Share issue expensed paid

-0.25

-6

Proceeds from issue of debt securities

5,349

5,105.90

Repayment of debt securities

-5,623.76

-4,548.15

Proceeds from issue of borrowings (other than debt securities)

23,907.37

19,005.10

Repayment of borrowings (other than debt securities)

-14,785.74

-14,555.20

Proceeds from issue of subordinated liabilities

55.07

279.91

Repayment of lease liability

-34.61

-15.07

Dividend paid on equity shares

-102.94

-

Dividend paid on compulsorily convertible preference shares

-47.51

-

Net Cash Generated from Financing Activities

8,717.26

7,268.30

Net decrease in cash and cash equivalents

-651.36

-124.35

Cash and cash equivalents balances with banks (current accounts)

28.5

222.68

deposits with banks

70.28

527.46

Cash and cash equivalents at the end of the year

98.78

750.14

 

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

Cash Flow from Operating Activities: The company experienced a net cash outflow of ₹9,238.83 crore, an increase from ₹6,918.52 crore in the previous year. Despite a profit before tax of ₹960.55 crore, cash flows were heavily influenced by significant adjustments and working capital changes. Major outflows included increases in loans, trade receivables, and other financial assets, which more than offset cash inflows from interest and gains. The result was substantial net cash used in operating activities.

Cash Flow from Investing Activities: There was a net cash outflow of ₹129.79 crore in 2024, an improvement from the previous year's outflow of ₹474.13 crore. The primary outflows were for purchasing property, plant, and equipment, and investments. These were partially offset by proceeds from the sale of investments and interest received, indicating a reduced but ongoing investment in capital and financial assets.

Cash Flow from Financing Activities: The company generated a net cash inflow of ₹8,717.26 crore, up from ₹7,268.30 crore in 2023. Significant inflows came from issuing borrowings and debt securities, as well as proceeds from issuing compulsorily convertible preference shares. These inflows were partly used for repaying debt securities and borrowings and paying dividends. This robust inflow reflects strong financing activities that helped mitigate the cash outflows from operating and investing activities.

Overall Cash Position: The net decrease in cash and cash equivalents for the year was ₹651.36 crore, compared to a smaller decrease of ₹124.35 crore the previous year. At the end of the year, cash and cash equivalents were ₹98.78 crore, down from ₹750.14 crore, indicating a significant reduction in liquidity due to heavy cash outflows.

 

Hero Fincorp Annual Report

Hero FinCorp Annual Report 2023-24

Download

Hero FinCorp Annual Report 2022-23

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Hero FinCorp Annual Report 2021-22

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Hero FinCorp Annual Report 2020-21

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Hero Fin Corp Limited - Audited Financial Results March 31, 2024

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Hero Fincorp Research Report

2022-23

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