Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
---|---|---|---|---|---|---|---|
Primex-40 | |||||||
Hero Motors Limited |
Particulars |
31-03-2023 |
31-03-2022 |
ASSETS |
|
|
NON-CURRENT ASSETS |
|
|
Property, plant and equipment |
23,529.08 |
16,419.80 |
Right-of-use assets |
1486.98 |
- |
Capital work-in-progress |
6787.21 |
1944.33 |
Other intangible assets |
334.92 |
75.84 |
Goodwill |
797.25 |
|
Investment |
113.40 |
- |
Loans |
252.32 |
4.72 |
Other financial assets |
397.14 |
775.22 |
Non current tax assets (net) |
88.76 |
- |
Other non-current assets |
1046.78 |
818.16 |
CURRENT ASSETS |
|
|
Inventories |
19,159.75 |
14,147.30 |
Investment |
1,530.27 |
2,446.52 |
Trade receivables |
24,101.40 |
19,058.91 |
Cash and cash equivalents |
755.79 |
5035.46 |
Bank balances other than Cash and cash equivalents |
8555.18 |
- |
Loans |
33.57 |
12.92 |
Other financial assets |
4094.56 |
2805.84 |
Other current assets |
1897.37 |
3765.62 |
Total assets |
94,961.73 |
67,310.64 |
EQUITY AND LIABILITIES |
|
|
Equity |
|
|
Equity share capital |
35357.84 |
3459.71 |
Other equity |
-401.87 |
12215.06 |
Non-controllable Interest |
-1131.41 |
- |
Liabilities |
|
|
Non-current liabilities |
|
|
Borrowings |
6,063.85 |
5,833.33 |
Lease Liabilities |
882.47 |
- |
Other financial liabilities |
413.40 |
385.30 |
Other Non-current liabilities |
- |
13.11 |
Provisions |
6780.13 |
780.63 |
Deferred tax liabilities (net) |
362.54 |
1128.08 |
Current liabilities |
|
|
Borrowings |
18236.89 |
19170.93 |
Lease Liabilities |
347.29 |
- |
Trade payables |
|
|
total outstanding dues of micro and small enterprises |
1591.76 |
1898.22 |
total outstanding dues other than above |
21,956.62 |
17,870.90 |
Other financial liabilities |
2,720.68 |
3,711.21 |
Other current liabilities |
1472.37 |
589.45 |
Provisions |
309.17 |
195.10 |
Current Tax liabilities |
- |
59.58 |
Total equity and liabilities |
94,961.73 |
67,310.64 |
Particulars |
31-03-2023 |
31-03-2022 |
Revenue from operations |
1,05,194.54 |
90,397.88 |
Other income |
1495.53 |
636.69 |
Total income |
1,06,690.07 |
91,034.57 |
Cost of materials consumed |
71,862.81 |
52,044.41 |
Purchases of stock-in-trade |
402.83 |
13,236.88 |
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
-578.69 |
-2698.52 |
Employee benefit expense |
9,118.81 |
5,479.83 |
Finance costs |
2560.07 |
1432.76 |
Depreciation and amortisation expense |
1756.33 |
1590.26 |
Other expenses |
15,734.47 |
12,942.97 |
Total expenses |
1,00,856.63 |
84,028.59 |
Profit /(Loss) before share of net profit/ (loss) of associates, exceptional items and tax |
5,833.44 |
7,005.98 |
Add: Share of Net Profit/ (loss) of associates |
-162.48 |
- |
Profit /(Loss) before exceptional items and tax |
5,670.96 |
7,005.98 |
Exceptional Items |
- |
6,574.05 |
Profit /(Loss) before tax |
5,670.96 |
13,580.03 |
Current tax |
1,737.13 |
2,688.43 |
Deferred tax |
-603.52 |
1,119.56 |
Profit /(Loss) for the year |
4,537.35 |
9,772.04 |
Other comprehensive income / (expenses) |
|
|
Items that will not be reclassified to profit or (loss) |
|
|
Re -measurement gains /(losses)on defined benefit plans |
-643.77 |
33.84 |
Share of gains /(losses )related to associate |
-531.49 |
- |
Income tax on items that will not be reclassified to profit or loss |
162.02 |
-8.52 |
Items that will be reclassified to of profit or loss |
|
|
Exchange differences in translating the financial statements of foreign operations |
256.52 |
- |
Other comprehensive Income for the year, net of tax |
-756.72 |
25.32 |
Total comprehensive income/ (loss) for the year |
3,780.63 |
9,797.36 |
Earning Per Equity Share |
|
|
Basic |
3.64 |
28.25 |
Diluted |
3.42 |
28.25 |
Particulars |
31-03-2023 |
31-03-2022 |
Cash flow from operating activities |
||
Profit / (Loss) before income tax |
5670.96 |
13580.03 |
Adjustments for: |
||
Depreciation and amortization |
1756.33 |
1590.26 |
Interest Paid |
1841.33 |
1301.65 |
Other borrowing Cost |
718.78 |
131.11 |
Foreign currency translation reserve |
256.52 |
- |
Provision/ sundry balances written off |
1.94 |
0.37 |
Loss/ (Profit) on sale of property plant and equipment |
17.89 |
-6572.58 |
Employee stock option |
1334.99 |
- |
Rental Income |
-6.06 |
-6.41 |
Other non-operating income |
-136.02 |
- |
Share in profit/ loss of associates |
-693.97 |
- |
Interest Income |
-681.51 |
-130.10 |
Operating Profit before working capital changes |
10081.18 |
9894.33 |
Working capital adjustments |
||
Adjustments for Increase/ (decrease) in operating assets: |
||
Trade receivables |
-2309.21 |
-3,800.88 |
Inventories |
-1716.60 |
-3,647.37 |
Other financial assets -non current |
345.11 |
-508.49 |
Other financial assets -current |
-1212.26 |
-965.64 |
Other assets- non current |
51.12 |
-377.59 |
Other assets-current |
2035.87 |
-1617.80 |
Adjustments for Increase/ (decrease) in operating liabilities: |
||
Trade Payables |
1011.99 |
6792.78 |
Other financial liabilities -non current |
28.10 |
25.15 |
Other financial liabilities -current |
-945.58 |
2464.73 |
Provisions -non current |
-284.56 |
17.99 |
Provisions -current |
-1.66 |
11.43 |
Other liabilities -non current |
-13.11 |
- |
Other liabilities -current |
51.96 |
65.14 |
Cash generated from operations |
7,122.35 |
8,353.78 |
Income taxes paid (net of refunds received) |
-1885.47 |
-2246.66 |
Net cash inflow from operating activities |
5,236.88 |
6,107.12 |
Cash flows from investing activities |
||
Capital Expenditure on PPE (including capital advances) |
-13187.74 |
-4120.13 |
Proceeds from sale of property, plant and equipment |
127.58 |
9368.20 |
Investment in debenture |
-113.40 |
- |
Sale of mutual fund |
1043.74 |
-2446.52 |
Loan granted |
-247.60 |
-4.72 |
Loan and advances to employee |
-20.65 |
-12.32 |
Interest received |
646.56 |
130.10 |
Rent received |
6.06 |
6.41 |
Bank balance not considered as cash & cash equivalents |
-8555.18 |
- |
Net cash outflow from investing activities |
-20300.63 |
2921.02 |
Cash flows from financing activities |
||
Proceeds / repayments from long-term borrowings |
230.52 |
-6925.93 |
Proceeds / repayments from short-term borrowings |
-1012.57 |
2852.41 |
Proceeds from issue non-cumulative compulsory convertible Preference shares |
14500.00 |
- |
Share issue expenses |
-345.07 |
- |
Other borrowing Cost |
-718.78 |
-131.11 |
Interest Paid |
-1950.63 |
-1301.65 |
Net cash inflow (outflow) from financing activities |
10,703.47 |
-5506.28 |
Net increase (decrease) in cash and cash equivalents |
-4,360.28 |
3,521.86 |
Cash and cash equivalents at the beginning of the financial year |
5035.46 |
1514.40 |
Cash of subsidiary i.e., HEL acquired during the year |
80.61 |
- |
Cash and cash equivalents at the end of the year |
755.79 |
5,035.46 |
Here is a summary of the Cash Flow Statement for the years 2023 and 2022:
Cash Flow from Operating Activities
Profit / (Loss) before Income Tax:
2023: ₹5670.96 million
2022: ₹13580.03 million
There was a significant decrease in profit before tax, which indicates a substantial decline in profitability.
Adjustments for:
Depreciation and Amortization:
2023: ₹1756.33 million
2022: ₹1590.26 million
Depreciation and amortization expenses increased, reflecting higher capital expenditures or changes in asset depreciation rates.
Interest Paid:
2023: ₹1841.33 million
2022: ₹1301.65 million
Interest expenses increased, indicating higher borrowing costs.
Other Borrowing Cost:
2023: ₹718.78 million
2022: ₹131.11 million
Other borrowing costs increased significantly, showing additional costs related to borrowing.
Foreign Currency Translation Reserve:
2023: ₹256.52 million
2022: ₹0 million
This new item indicates the impact of currency translation on foreign operations.
Provision/Sundry Balances Written Off:
2023: ₹1.94 million
2022: ₹0.37 million
Small increase in provision for doubtful debts or sundry balances written off.
Loss / (Profit) on Sale of Property Plant and Equipment:
2023: ₹17.89 million
2022: ₹-6572.58 million
The loss in 2023 contrasts with a significant profit in 2022, indicating a change in the asset disposal strategy or market conditions.
Employee Stock Option:
2023: ₹1334.99 million
2022: ₹0 million
Introduction of employee stock options as a cost in 2023.
Rental Income:
2023: ₹-6.06 million
2022: ₹-6.41 million
Slight decrease in rental income.
Other Non-Operating Income:
2023: ₹-136.02 million
2022: ₹0 million
New non-operating income source in 2023.
Share in Profit / Loss of Associates:
2023: ₹-693.97 million
2022: ₹0 million
Loss from associates introduced in 2023.
Interest Income:
2023: ₹-681.51 million
2022: ₹-130.10 million
Significant increase in interest income.
Operating Profit before Working Capital Changes:
2023: ₹10081.18 million
2022: ₹9894.33 million
Operating profit before working capital changes increased slightly, indicating stable core business performance.
Cash Generated from Operations:
2023: ₹7122.35 million
2022: ₹8353.78 million
Decrease in cash generated from operations, indicating lower operating cash flow.
Income Taxes Paid (Net of Refunds Received):
2023: ₹-1885.47 million
2022: ₹-2246.66 million
Decrease in taxes paid, indicating lower tax obligations.
Net Cash Inflow from Operating Activities:
2023: ₹5236.88 million
2022: ₹6107.12 million
Decrease in net cash inflow from operating activities, reflecting lower overall operating performance.
Cash Flows from Investing Activities
Capital Expenditure on PPE (Including Capital Advances):
2023: ₹-13187.74 million
2022: ₹-4120.13 million
Significant increase in capital expenditure on property, plant, and equipment.
Proceeds from Sale of Property, Plant, and Equipment:
2023: ₹127.58 million
2022: ₹9368.20 million
Significant decrease in proceeds from the sale of assets.
Investment in Debenture:
2023: ₹-113.40 million
No investments recorded in 2022.
Sale of Mutual Fund:
2023: ₹1043.74 million
2022: ₹-2446.52 million
Increase in proceeds from the sale of mutual funds.
Loan Granted:
2023: ₹-247.60 million
2022: ₹-4.72 million
Increase in loans granted.
Loan and Advances to Employee:
2023: ₹-20.65 million
2022: ₹-12.32 million
Increase in loans and advances to employees.
Interest Received:
2023: ₹646.56 million
2022: ₹130.10 million
Significant increase in interest received.
Rent Received:
2023: ₹6.06 million
2022: ₹6.41 million
Slight decrease in rent received.
Bank Balance Not Considered as Cash & Cash Equivalents:
2023: ₹-8555.18 million
No changes recorded in 2022.
Net Cash Outflow from Investing Activities:
2023: ₹-20300.63 million
2022: ₹2921.02 million
Significant outflow, indicating heavy investments in PPE and other assets.
Cash Flows from Financing Activities
Proceeds / Repayments from Long-Term Borrowings:
2023: ₹230.52 million
2022: ₹-6925.93 million
Positive inflow in 2023 versus a significant outflow in 2022.
Proceeds / Repayments from Short-Term Borrowings:
2023: ₹-1012.57 million
2022: ₹2852.41 million
Net outflow in 2023 versus a net inflow in 2022.
Proceeds from Issue of Non-Cumulative Compulsory Convertible Preference Shares:
2023: ₹14500.00 million
No changes recorded in 2022.
Share Issue Expenses:
2023: ₹-345.07 million
No expenses recorded in 2022.
Other Borrowing Cost:
2023: ₹-718.78 million
2022: ₹-131.11 million
Increase in other borrowing costs.
Interest Paid:
2023: ₹-1950.63 million
2022: ₹-1301.65 million
Increase in interest paid.
Net Cash Inflow (Outflow) from Financing Activities:
2023: ₹10703.47 million
2022: ₹-5506.28 million
Significant positive inflow in 2023 versus a substantial outflow in 2022.
Net Increase / Decrease in Cash & Cash Equivalents
Net Increase (Decrease):
2023: ₹-4360.28 million
2022: ₹3521.86 million
Significant net decrease in cash and cash equivalents.
Cash and Cash Equivalents at the Beginning of the Financial Year:
2023: ₹5035.46 million
2022: ₹1514.40 million
The opening balance increased, reflecting the prior year’s closing balance.
Cash of Subsidiary (HEL) Acquired during the Year:
2023: ₹80.61 million
No acquisitions recorded in 2022.
Cash and Cash Equivalents at the End of the Year:
2023: ₹755.79 million
2022: ₹5035.46 million
The closing balance decreased significantly, indicating a lower cash reserve.
Particulars |
2023 |
2022 |
Current Ratio |
1.29 |
1.13 |
Debt-Equity Ratio |
0.72 |
1.60 |
Debt Service Coverage Ratio, |
4.56 |
5.02 |
Return on Equity Ratio |
18.33% |
90.68% |
Inventory turnover ratio |
6.32 |
6.32 |
Trade Receivables turnover ratio |
4.87 |
5.27 |
Trade payables turnover ratio |
3.37 |
3.24 |
Net capital turnover ratio |
7.80 |
14.43 |
Net profit ratio |
4.31% |
10.81% |
Return on Capital employed |
14.18% |
20.70% |
Here is a summary of the financial and operational metrics for Hero Motors Limited for the year 2023 & 2022:
Current Ratio
2023: 1.29
2022: 1.13
Insight: The current ratio has improved slightly from 1.13 to 1.29, indicating a better liquidity position. The company has more current assets relative to its current liabilities compared to the previous year, enhancing its ability to cover short-term obligations.
Debt-Equity Ratio
2023: 0.72
2022: 1.60
Insight: The debt-equity ratio has significantly decreased from 1.60 to 0.72. This indicates that the company has reduced its debt levels relative to its equity, resulting in a lower financial risk and improved financial stability.
Debt Service Coverage Ratio
2023: 4.56
2022: 5.02
Insight: The debt service coverage ratio has decreased slightly from 5.02 to 4.56. Although there is a reduction, the ratio still indicates a strong ability to cover debt obligations from operating income.
Return on Equity (ROE)
2023: 18.33%
2022: 90.68%
Insight: The return on equity has drastically decreased from 90.68% to 18.33%. This significant drop suggests a considerable decline in the company’s profitability relative to shareholders ' equity.
Inventory Turnover Ratio
2023: 6.32
2022: 6.32
Insight: The inventory turnover ratio has remained constant at 6.32. This indicates that the company 's efficiency in managing and selling its inventory has remained stable year-over-year.
Trade Receivables Turnover Ratio
2023: 4.87
2022: 5.27
Insight: The trade receivables turnover ratio has decreased from 5.27 to 4.87, suggesting that the company is taking longer to collect its receivables compared to the previous year.
Trade Payables Turnover Ratio
2023: 3.37
2022: 3.24
Insight: The trade payables turnover ratio has increased slightly from 3.24 to 3.37, indicating that the company is paying off its suppliers at a slightly faster rate than before.
Net Capital Turnover Ratio
2023: 7.80
2022: 14.43
Insight: The net capital turnover ratio has decreased significantly from 14.43 to 7.80. This suggests a reduction in the efficiency with which the company is using its working capital to generate sales.
Net Profit Ratio
2023: 4.31%
2022: 10.81%
Insight: The net profit ratio has decreased from 10.81% to 4.31%, indicating a decline in the company’s ability to convert revenue into profit.
Return on Capital Employed (ROCE)
2023: 14.18%
2022: 20.70%
Insight: The return on capital employed has decreased from 20.70% to 14.18%. This indicates a reduction in the efficiency and profitability of the company’s capital investments.