Hillridge Investments Ltd Annual Reports, Balance Sheet and Financials

Hillridge Investments Limited Standalone Balance Sheet (Rs in Thousands)

Particulars	31-03-2024	31-03-2023
Non-current assets
Property, plant and equipment	3.88	3.88
Investments	1,37,743.00	1,37,743.00
Deferred tax Liability (net)	4.79	5.31
Current assets
Inventories	95,372.03	95,729.78
Trade Receivables	3,320.47	3,149.78
Cash and cash equivalents	334.83	124.69
Bank balances other than above	8.10	1,108.05
Other Current Asset	4,145.68	4,127.38
Total Assets	2,40,932.78	2,41,991.87
Equity
Equity share capital	85,200.00	85,200.00
Other equity	1,55,637.87	1,55,406.89
Current liabilities
Borrowings	-	1,287.70
Other current liabilities	94.90	97.29
Total liabilities	2,40,932.77	2,41,991.88

Particulars	31-03-2024	31-03-2023
Income
Revenue from operations	1,073.25	1,074.00
Other income	188.99	-
Total Income	1,262.24	1,074.00
Expenses
Changes in inventories of finished goods, Stock in trade & WIP	357.75	358.00
Employee benefits expense	264.73	234.77
Finance cost	1.88	2.86
Other expenses	394.97	413.07
Total expense	1,019.33	1,008.70
Profit before tax	242.91	65.30
Current tax	-	-10.90
MAT credit entitlement	-	10.90
Deferred tax (net)	-0.52	0.32
Income tax earlier year	-11.40	-
Profit for the year	230.98	65.61
Earnings per equity share
Basic	0.03	0.01
Diluted	0.03	0.01

 Hillridge Investments Limited Standalone Cash Flow Statement (Rs in Thousands)

Particulars	31-03-2024	31-03-2023
Cash flow from operating activities
Net Profit/(loss) before tax	2.429	0.65
Adjustments for:
Provision for Income tax	-	-0.11
Working capital changes:
Increase/Decrease in Inventories	3.578	3.58
Increase/Decrease in Trade and other receivables	-2.004	0.11
Increase/Decrease in Trade payables	-0.024	0.28
Net cash flows from operating activities	3.979	4.51
Cash flow from financing activities
Proceeds from long term borrowings	-12.877	6.91
Net cash from financing activities	-12.877	6.91
Net decrease in cash and cash equivalents	-8.898	11.42
Opening balance of cash and cash equivalents	12.327	0.91
Closing balance of cash and cash equivalents	3.429	12.33

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

Cash Flow from Operating Activities:

Net Profit/(Loss) before Tax: The company made a net profit of Rs. 2.429 million in FY 2023-24, up from Rs. 0.65 million in FY 2022-23. This indicates better profitability during the year.

Adjustments for Provision for Income Tax: There was no provision for income tax during the year, as indicated by the zero amounts for both years.

Working Capital Changes:

Increase/Decrease in Inventories: There was a slight increase in inventories of Rs. 3.578 million in FY 2023-24, similar to the previous year 's Rs. 3.58 million, reflecting consistent inventory management.

Increase/Decrease in Trade and Other Receivables: Trade receivables decreased by Rs. 2.004 million in FY 2023-24, compared to a minor increase of Rs. 0.11 million in FY 2022-23, suggesting the company collected more outstanding receivables.

Increase/Decrease in Trade Payables: There was a slight decrease of Rs. 0.024 million in trade payables, compared to an increase of Rs. 0.28 million in the previous year, indicating that the company paid off more of its payables.

Overall, the net cash flow from operating activities was Rs. 3.979 million in FY 2023-24, slightly lower than Rs. 4.51 million in the previous year, reflecting a small decline in operating cash generation.

Cash Flow from Financing Activities:

Proceeds from Long-Term Borrowings: The company repaid long-term borrowings amounting to Rs. 12.877 million in FY 2023-24, compared to raising Rs. 6.91 million in FY 2022-23. This indicates the company reduced its debt during the year.

Net Cash from Financing Activities: As a result of the repayment of loans, the net cash flow from financing activities was negative, amounting to Rs. -12.877 million in FY 2023-24.

Cash Flow from Investing Activities:

There is no explicit information provided regarding cash flows from investing activities, implying there were no significant changes in this area or the values are grouped under other categories.

Net Decrease in Cash and Cash Equivalents:

The company experienced a net decrease in cash and cash equivalents of Rs. 8.898 million in FY 2023-24, a significant reduction compared to the increase of Rs. 11.42 million in FY 2022-23. This reflects a net outflow of cash due to the financing activities (loan repayments) and possibly other operational adjustments.