Hutti Gold Mines Company Limited (Hutti Gold Mines) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Hutti Gold Mines Company Limited

The Hutti Gold Mines Co. Limited Standalone Balance Sheet (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Non-current assets
Property, Plant and Equipment	1,26,355.59	1,26,466.95
Capital Work-in-Progress-Tangible	12,850.36	13,458.13
Other Intangible Assets	37.78	42.73
Intangible assets under development	98.70	-
Investments	2.50	2.50
Other financial assets	18,639.22	1,818.88
Deferred Tax Assets (Net)	1,301.72	-
Other Non-current Assets	30,776.29	37,884.79
Current assets
Inventories	22,512.05	19,009.75
Trade Receivables	682.05	302.10
Cash and Cash Equivalents	7,488.39	30,315.04
Other Bank Balances	85,000.00	50,000.00
Other financial assets	4.92	4.92
Current Tax Assets (Net)	1,221.73	-
Other Current assets	11,182.36	8,387.45
Total Assets	3,18,153.65	2,87,693.24
Equity
Equity Share Capital	296.20	296.20
Other Equity	2,83,051.18	2,65,292.62
Non-Current Liabilities
Provisions	7,831.30	3,503.29
Deferred Tax Liabilities (Net)	-	509.22
Current Liabilities
Total outstanding dues of MSME	219.01	82.28
Total outstanding dues of other than MSME	1,219.58	1,558.53
Other Financial Liabilities	4,363.03	4,561.27
Current Tax Liabilities (Net)	-	236.62
Other Current Liabilities	21,173.35	11,653.21
Total Equity and Liabilities	3,18,153.65	2,87,693.24

The Hutti Gold Mines Co. Limited Standalone Profit & Loss Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Revenue from operations	95,831.84	77,811.20
Other income	9,415.64	5,062.34
Total Income	1,05,247.48	82,873.54
Expenses
Cost of materials consumed	6,727.88	6,045.37
Changes in inventories of Finished goods, work-in-process and stock-in-trade	-2,732.07	-1,660.16
Employee Benefit Expenses	45,288.44	33,678.09
Finance Costs	1.01	42.77
Depreciation and Amortisation Expenses	4,163.17	1,851.26
Other expenses	20,321.24	16,130.18
Total Expenses	73,769.68	56,087.52
Profit/(Loss) before tax	31,477.80	26,786.02
Tax expenses:
Current Tax	8,600.00	6,145.00
Deferred tax	1,067.67	857.50
Profit / (Loss) for the year	23,945.47	19,783.52
Other Comprehensive Income
Remeasurement of net defined benefit liability/asset (net of tax)	-2,209.96	526.51
Total Comprehensive Income for the Year	21,735.51	20,310.02
Earnings per Share	8,084.12	6,679.02

The Hutti Gold Mines Co. Limited Standalone Cash Flow Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Cash flow from operating activites
Net Profit before tax and extraordinary items	31,477.80	26,786.02
Adjustments for non Cash/ Non trade items:
Depreciation & Amortization Expenses	4,163.17	1,851.26
(Profit) / loss on sale / write off of assets	-	-38.91
Finance costs	1.01	42.77
Interest income	-8,397.50	-4,444.39
Operating profit / (loss) before working capital changes	27,244.48	24,196.75
Changes in working capital:
Adjustments for (increase) / decrease in operating assets:
Inventories	-3,502.30	-3,164.20
Trade receivables	-379.94	-166.56
Current Tax Assets (Net)	-1,221.73	614.43
Other Current Assets	-2,794.91	-1,179.86
Other financial assets	-16,820.34	1,648.04
Other Non-Current Assets	7,108.49	-1,062.97
Adjustments for increase / (decrease) in operating liabilities:	-17,610.72	-3,311.13
Trade Payables	-202.22	-557.29
Current Tax Liabilities (Net)	-236.62	236.62
Other Financial Liabilities	-199.19	-96.87
Other Current Liabilities	9,520.14	2,853.01
Provisions	2,118.05	-1,525.14
Adjustment of Income-tax / Defered Tax Provision	-743.27	177.10
Cash generated from operations	19,890.65	21,973.05
Net income tax (paid) / refunds	-8,600.00	-6,145.00
Net cash flow from / (used in) operating activities	11,290.65	15,828.05
Cash flow from investing activities
Capital expenditure on property, plant & equipment, including capital advances	-5,145.28	-6,619.34
Interest received
- From Bank Deposits & Others	8,397.50	4,444.39
- From Term Deposits	-35,000.00	-3,406.10
(Profit)/loss on sale/write off of assets	-	38.91
Net cash flow from / (used in) investing activities	-31,747.78	-5,542.14
Cash flow from financing activities
Finance cost	-1.01	-42.77
Dividends / Tax on dividend paid	-2,368.50	-3,314.27
Net cash flow from / (used in) financing activities	-2,369.52	-3,357.04
Net increase / (decrease) in Cash and cash equivalents	-22,826.65	6,928.87
Cash and cash equivalents at the beginning of the year	30,315.04	23,386.18
Cash and cash equivalents at the end of the year	7,488.39	30,315.04

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

Operating Activities:

The company reported strong operational cash inflow of ₹11,290.65 lakhs in FY 2024, though lower than ₹15,828.05 lakhs in FY 2023. Despite higher profits and depreciation, working capital changes—especially increases in other financial assets and inventories—significantly impacted cash flow. While operations remain cash-positive, rising asset buildup and tax payments reduced net inflows.

Investing Activities:

FY 2024 saw a sharp investing outflow of ₹31,747.78 lakhs, mainly due to a ₹35,000 lakhs investment in term deposits, compared to ₹5,542.14 lakhs in FY 2023. Though capital expenditure decreased, heavy fund allocation to deposits shows a conservative cash management approach, potentially limiting liquidity.

Financing Activities:

Financing outflows were ₹2,369.52 lakhs in FY 2024, down slightly from the previous year. This mostly reflects dividend payouts, with negligible finance costs, indicating a low or debt-free capital structure and steady shareholder returns.

Net Cash Flow and Cash Position:

Overall, the company’s cash reserves dropped by ₹22,826.65 lakhs in FY 2024, reducing the closing balance to ₹7,488.39 lakhs from ₹30,315.04 lakhs. Though driven by planned financial investments, the decline signals a need to monitor liquidity availability.

Financial Ratios of The Hutti Gold Mines Co. Limited

Particulars	2024	2023
Current ratio	4.75	5.97
Return on Equity	12.83	11.73
Inventory Turnover	4.62	4.46
Trade Payables turnover ratio	43.22	26.93
Net capital turnover ratio	0.95	0.87
Net profit ratio	24.99	25.43
Return on Capital employed	16.87	15.89

Here is a summary of the financial and operational metrics for The Hutti Gold Mines Co. Limited for the year 2024 and 2023:

Current Ratio:

The current ratio declined from 5.97 in 2023 to 4.75 in 2024, indicating a reduction in short-term liquidity. While both figures reflect strong liquidity and the ability to comfortably meet current obligations, the slight drop may suggest better utilization of current assets or increased current liabilities. However, excessively high ratios can also imply underutilized resources.

Return on Equity:

ROE increased from 11.73% in 2023 to 12.83% in 2024, reflecting improved profitability in generating returns for shareholders. This rise indicates that the company has become slightly more efficient in using its equity base to generate net income, which is a positive signal for investors.

Inventory Turnover Ratio:

The inventory turnover ratio rose from 4.46 to 4.62, suggesting improved efficiency in managing inventory. A higher ratio implies that the company is selling and replenishing inventory more frequently, which can reduce holding costs and the risk of obsolescence, contributing positively to working capital management.

Trade Payables Turnover Ratio:

The significant jump in the trade payables turnover ratio from 26.93 to 43.22 indicates that the company is paying off its suppliers much faster in 2024 compared to 2023. While this may reflect strong cash flows or better vendor terms, it could also mean reduced credit period, which may pressure short-term liquidity.

Net Capital Turnover Ratio:

The net capital turnover ratio increased slightly from 0.87 to 0.95, indicating a marginal improvement in the company’s ability to generate revenue from its working capital. Although still below 1, the upward trend shows improving efficiency in utilizing capital to drive sales.

Net Profit Ratio:

The net profit ratio dipped slightly from 25.43% in 2023 to 24.99% in 2024, indicating marginally reduced profitability relative to revenue. Despite the small decline, the ratio remains strong, showcasing the company’s ability to maintain healthy margins.

Return on Capital Employed – ROCE:

ROCE increased from 15.89% to 16.87%, reflecting improved efficiency in using the total capital (debt + equity) to generate profits. This suggests stronger operational performance and better overall capital utilization in 2024.

Hutti Gold Mines Annual Reports, Balance Sheet and Financials