Jagat Trading Enterprises Annual Reports, Balance Sheet and Financials

Jagat Trading Enterprises Balance Sheet (Rs in Thousands)

 Jagat Trading Enterprises Profit & Loss Statement (Rs in Thousands)

 Jagat Trading Enterprises Consolidated Cash Flow Statement (Rs in Thousands)

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

Cash Flow from Operating Activities:

For the year ending March 31, 2024, the company reported a loss before tax of Rs.2,638.52 thousand, an improvement from the loss of Rs.6,875.86 thousand in FY 2023. This reflects a reduction in losses by about Rs.4.24 million, indicating better financial performance in FY 2024 compared to the previous year.

Several non-cash adjustments were made to the profit before tax. For example, dividend income on investments decreased from Rs.622.78 thousand in FY 2023 to Rs.389.45 thousand in FY 2024, indicating a decline in dividend income. Interest income on investments also increased from Rs.3,850.03 thousand in FY 2023 to Rs.4,557.67 thousand in FY 2024, showing a better return on investments.

The profit on the sale of investments was significantly higher in FY 2024, rising from Rs.3,856.09 thousand in FY 2023 to Rs.11,904.27 thousand, signaling that the company realized substantial gains from selling investments in FY 2024.

There was a small profit on the sale of property, plant, and equipment in FY 2023 of Rs.7.83 thousand, but this line was not active in FY 2024. In both years, adjustments were made for the fair valuation of financial instruments and impairment of financial instruments, reflecting changes in the value of certain assets. The impairment provision of Rs.12.50 thousand in FY 2024 highlights a loss in value of some financial instruments.

Depreciation and amortization increased from Rs.211.14 thousand in FY 2023 to Rs.249.41 thousand in FY 2024, reflecting the wear and tear of assets. Depreciation is a non-cash charge and was added back to the cash flow.

The operating profit before working capital changes was Rs.5,508.13 thousand in FY 2024, a significant recovery from the loss of Rs.6,271.32 thousand in FY 2023. This shows that, after adjusting for non-cash items, the company was able to generate a positive operating profit in FY 2024.

In terms of working capital changes, the company saw a slight decrease in financial liabilities by Rs.1.00 thousand in FY 2024, compared to an almost negligible decrease of Rs.0.01 thousand in FY 2023. The company’s provisions increased by Rs.469.62 thousand in FY 2024, compared to Rs.346.71 thousand in FY 2023, indicating that the company may be setting aside more resources for future liabilities. There was also a slight increase in non-financial liabilities of Rs.3.25 thousand in FY 2024, compared to a much smaller increase of Rs.0.41 thousand in FY 2023.

The stock in securities decreased by Rs.7,291.83 thousand in FY 2024, a substantial change compared to an increase of Rs.1,420.84 thousand in FY 2023. This suggests that the company may have sold or written down a significant portion of its securities in FY 2024. The non-financial assets decreased by Rs.33.75 thousand in FY 2024, whereas there was no change in this area in FY 2023.

Finance expenses paid were Rs.808.29 thousand in FY 2024, compared to Rs.817.02 thousand in FY 2023, showing a minor reduction in finance costs. Loans decreased by Rs.4,780.00 thousand in FY 2024, compared to a much smaller decrease of Rs.81.73 thousand in FY 2023, indicating a larger reduction in borrowings in FY 2024.

After considering all these adjustments, the company generated a net cash used in operating activities of Rs.-8,546.24 thousand in FY 2024, an increase in cash outflow compared to the net cash used of Rs.-6,002.96 thousand in FY 2023. This is primarily due to the negative cash generation from operating activities, despite the improvement in operational performance.

Finally, the company paid direct taxes of Rs.673.13 thousand in FY 2024, as opposed to receiving a refund of Rs.92.58 thousand in FY 2023.

Cash Flow from Investing Activities:

In FY 2024, the purchase of property, plant, and equipment remained at zero, indicating no major capital expenditures during the year, compared to a small expenditure of Rs.35.20 thousand in FY 2023. The proceeds from the sale of fixed assets were also zero in FY 2024, although there was a small receipt of Rs.23.57 thousand in FY 2023 from the sale of assets.

The purchase and sale of investments resulted in a net cash inflow of Rs.2,627.78 thousand in FY 2024, compared to Rs.7,883.99 thousand in FY 2023. This shows that the company was less active in buying or selling investments in FY 2024.

The company received dividends on investments amounting to Rs.389.45 thousand in FY 2024, down from Rs.622.78 thousand in FY 2023. Interest received on investments increased to Rs.4,557.67 thousand in FY 2024, up from Rs.4,393.73 thousand in FY 2023, reflecting slightly better returns on investments.

As a result, the net cash used in investing activities was Rs.7,574.90 thousand in FY 2024, compared to Rs.12,888.87 thousand in FY 2023. This decrease in cash outflow from investing activities was due to lower purchases of investments and the sale of fewer assets.

Cash Flow from Financing Activities:

In FY 2024, the company made repayments of borrowings amounting to Rs.4,500.00 thousand, compared to Rs.2,500.00 thousand in FY 2023. This indicates that the company repaid a larger portion of its debt in FY 2024.

The net cash flow from financing activities was Rs.-4,500.00 thousand in FY 2024, a higher outflow compared to Rs.-2,500.00 thousand in FY 2023, reflecting the increased debt repayments.

Net Increase/Decrease in Cash and Cash Equivalents:

The company reported a net decrease in cash and cash equivalents of Rs.-5,471.34 thousand in FY 2024, compared to a net increase of Rs.4,385.90 thousand in FY 2023. This indicates a significant decline in cash reserves during FY 2024, largely due to negative cash flows from operating and investing activities.