Kogta Financial Annual Reports | Balance Sheet | Financials

Kogta Financial Limited (Kogta Financial) Return Comparision with Primex 40 Index

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Kogta Financial Limited

Kogta Financial Limited Balance Sheet (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
ASSETS
Cash and cash equivalents	29,065.94	18,859.61
Bank Balances other than cash	36,250.32	41,543.53
Loans	4,00,189.55	2,83,175.09
Investments	45,685.22	30,845.21
Other Financial Assets	9,543.99	5,745.31
Deferred Tax Assets (net)	300.07	560.44
Property, plant and equipment	1,638.15	1,320.19
Right of Use Assets	1,625.83	1,496.47
Other Intangible Assets	1,020.05	338.49
Other non-financial assets	2,602.38	1,551.34
Total Assets	5,27,921.50	3,85,435.68
LIABILITIES AND EQUITY
Trade Payables	661.04	682.36
Debt securities	45,526.33	55,307.29
Borrowings (Other than debt securities)	3,44,930.24	2,09,361.35
Lease Liability	1,902.53	1,708.17
Other financial liabilities	5,267.20	3,945.22
Provisions	810.11	534.89
Other non-financial liabilities	790.79	417.93
EQUITY
Equity share capital	8,558.48	8,552.42
Other equity	1,19,474.78	1,04,926.05
Total - Liabilities and Equity	5,27,921.50	3,85,435.68

Kogta Financial Limited Profit & Loss Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Revenue from operations
Interest Income	70,803.11	48,001.22
Fee and Commission Income	5,589.91	3,312.45
Net gain on fair value changes	601.01	840.44
Total Revenue from operations	76,994.03	52,154.11
Other Income	38.25	33.84
Total income	77,032.28	52,187.95
Expenses
Finance Costs	29,397.84	19,018.47
Impairment on financial instruments	4,718.24	3,262.96
Employee Benefits Expenses	19,599.07	14,905.05
Depreciation, amortization and impairment	1,304.50	879.11
Other expenses	3,114.25	2,591.46
Total expenses	58,133.90	40,657.05
Profit before taxes	18,898.38	11,530.90
Tax expenses
Current Taxes	4,525.82	3,074.31
Adjustment of tax relating to earlier periods	1.93	31.38
Deferred Taxes	277.68	-122.4
Profit for the year	14,092.95	8,547.62
Other Comprehensive Income
Items that will not be reclassified to profit or loss
Re-measurements of net defined benefit plans	-71.89	-46.80
Income tax relating to items that will not be reclassified	-18.09	-11.78
Sub-total	-53.8	-35.02
Items that will be reclassified to profit or loss
Net gain / (loss) on debt instruments through OCI	3.11	-
Income tax relating to items that will be reclassified	0.78	-
Sub-total	2.33	-
Other Comprehensive Income	-51.47	-35.02
Total Comprehensive Income for the year	14,041.48	8,512.60
Earnings per equity share
Basic	132.57	81.46
Diluted	44	27.23

Kogta Financial Limited Cash Flow Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Cash flow from operating activities:
Net profit before tax as per statement of profit and loss	18,898.38	11,530.90
Adjustments:
Depreciation and amortisation of PPE, ROU and other intangible assets	1,304.50	879.11
Loans & advances written off	2,478.80	880.74
Amortization of ancillary cost	-798.99	-652.24
Provision for expected credit loss (ECL)	1,453.34	1,832.16
EIS receivable on assignment transactions	-3,428.52	-1,362.69
Provision for employee benefits	432.16	22.07
Loss/(Profit) on sale of property, plant and equipment	-11.95	-14.39
Net (gain)/ loss on sale of current investments	-1,351.08	-1,893.77
ESOP Expenses	186.82	-11.26
Interest Expense on Lease	208.51	186.77
Interest expenses on vehicle loans	38.87	13.41
Rental income	-5.2	-5.2
Operating profit before working capital changes	19,405.64	11,405.61
Changes in working capital
(Increase)/decrease in Loans	-1,20,641.85	-1,02,349.97
(Increase)/decrease in bank deposits	5,293.21	-14,629.45
Increase in financial and other assets	-1,374.61	160.82
Increase/(decrease) in financial and other liabilities	1,673.52	1,834.00
Total of changes in working capital	-1,15,049.73	-1,14,984.60
Direct taxes paid	4,756.58	2,513.41
Net cash flow used in operating activities	-1,00,400.67	-1,06,092.40
Cash flow from investing activities:
Purchase of Property, plant and equipment (including capital work-in-progress)/ intangible assets	-1,868.37	-1,255.37
Sale of Property, plant and equipment (including capital work-in-progress)	33.32	16.74
Purchase of current investments	-79,544.14	-94,744.59
Proceeds from sale/maturity of current investments	66,058.33	96,982.98
Rental income	5.20	5.20
Net cash flow used in investing activities	-15,315.66	1,004.96
Cash flow from financing activities:
Issue of equity shares (including share premium)	326.51	40,322.49
Share / debenture issue expenses	-	-441.28
Dividend paid on preference shares	-0.01	-0.01
Payment of lease liability	-600.54	-521.87
Interest paid on vehicle loan	-38.87	-13.41
Proceeds from borrowings	2,14,508.29	1,46,915.66
Repayments of borrowings	-88,272.72	-69,700.19
Net Cash flow from financing activities	1,25,922.66	1,16,561.39
Net increase/(decrease) in cash and cash equivalents	10,206.33	11,473.95
Cash and cash equivalents as at the beginning of the year	18,859.61	7,385.65
Cash and cash equivalents at the end of the year	29,065.94	18,859.61
Components of cash and cash equivalents
Cash on hand	364.68	275.92
Balance with banks:
In current accounts/collection accounts	6,046.02	2,257.37
In cash credit	20,153.88	9,820.90
In deposit account	2,501.36	6,505.42
Total cash and cash equivalents	29,065.94	18,859.61

Here is a summary of the Cash Flow Statement for the years 2024 and 2023 (₹ in Lakhs)

Cash Flow From Operating Activities

Net Profit Before Tax: The starting point for cash flow from operating activities is the net profit before tax, which for the year ended March 31, 2024, is ₹18,898.38, up from ₹11,530.90 in the previous year. This reflects the company 's earnings from its operations before tax deductions.

Adjustments:

Depreciation and Amortization: This non-cash expense totals ₹1,304.50, indicating the wear and tear of assets, up from ₹879.11. It’s added back because it doesn’t affect cash flow.

Loans & Advances Written Off: This is ₹2,478.80, signifying uncollectible loans, which is a cash outflow adjustment.

Amortization of Ancillary Costs: At -₹798.99, this represents costs related to obtaining financing, adjusted as a non-cash expense.

Provision for Expected Credit Loss (ECL): An adjustment of ₹1,453.34 reflects the expected losses on receivables.

EIS Receivable on Assignment Transactions: This -₹3,428.52 indicates cash that was expected but is now deemed uncollectible.

Provision for Employee Benefits: The adjustment of ₹432.16 reflects cash set aside for employee benefits.

Loss/(Profit) on Sale of Property, Plant, and Equipment: The loss of -₹11.95 is adjusted out of cash flow, indicating a cash outflow.

Net Gain/Loss on Sale of Current Investments: The -₹1,351.08 indicates cash loss on selling investments.

ESOP Expenses: An expense of ₹186.82 related to stock options, a non-cash expense.

Interest Expense on Lease: This is added back as it reflects financing costs, totaling ₹208.51.

Interest Expenses on Vehicle Loans: These are cash outflows totaling ₹38.87.

Rental Income: This -₹5.20 is subtracted from cash flow as it reflects income received.

Operating Profit Before Working Capital Changes: After adjustments, the operating profit stands at ₹19,405.64, up from ₹11,405.61, indicating improved operational efficiency.

Changes in Working Capital:

Increase/Decrease in Loans: A significant outflow of -₹1,20,641.85 reflects a decrease in cash due to loans issued.

Increase/Decrease in Bank Deposits: An inflow of ₹5,293.21 indicates cash returning from deposits.

Increase in Financial and Other Assets: A cash outflow of -₹1,374.61.

Increase/Decrease in Financial and Other Liabilities: An inflow of ₹1,673.52 indicates improved liquidity.

Total Changes in Working Capital: This results in a net decrease of -₹1,15,049.73, affecting overall cash flow.

Direct Taxes Paid: A cash outflow of ₹4,756.58 represents taxes paid during the year.

Net Cash Flow Used in Operating Activities: The total cash flow from operating activities is -₹1,00,400.67, indicating a significant outflow compared to the previous year’s -₹1,06,092.40.

Cash Flow from Investing Activities

Purchase of Property, Plant, and Equipment: This outflow of -₹1,868.37 indicates investments made in physical assets.

Sale of Property, Plant, and Equipment: The inflow of ₹33.32 reflects cash received from asset sales.

Purchase of Current Investments: An outflow of -₹79,544.14 reflects investments made, impacting cash negatively.

Proceeds from Sale/Maturity of Current Investments: Inflow of ₹66,058.33 from selling investments.

Rental Income: Cash inflow of ₹5.20.

Net Cash Flow Used in Investing Activities: The overall cash flow is -₹15,315.66, contrasting with a positive inflow of ₹1,004.96 in the previous year, indicating increased capital spending.

Cash Flow from Financing Activities

Issue of Equity Shares: Cash inflow of ₹326.51 from new shares issued.

Share/Debenture Issue Expenses: A cash outflow of -₹441.28 due to costs associated with issuing equity.

Dividend Paid on Preference Shares: A minor outflow of -₹0.01.

Payment of Lease Liability: Outflow of -₹600.54 related to lease obligations.

Interest Paid on Vehicle Loan: Cash outflow of -₹38.87.

Proceeds from Borrowings: Significant inflow of ₹2,14,508.29 indicates new debt taken on.

Repayments of Borrowings: An outflow of -₹88,272.72 as debts are repaid.

Net Cash Flow from Financing Activities: The net cash inflow is ₹1,25,922.66, an increase from ₹1,16,561.39 the previous year, showing strong financing activities.

Overall Cash Position

Net Increase/Decrease in Cash and Cash Equivalents: A net increase of ₹10,206.33, indicating a positive cash flow position compared to the previous year 's increase of ₹11,473.95.

Cash and Cash Equivalents at Beginning of the Year: ₹18,859.61, showing a significant increase from the previous year 's starting balance of ₹7,385.65.

Cash and Cash Equivalents at End of the Year: The final balance is ₹29,065.94, demonstrating improved liquidity.

Components of Cash and Cash Equivalents

Cash on Hand: ₹364.68, indicating available cash.

Balance with Banks:

In Current Accounts/Collection Accounts: ₹6,046.02, available for immediate use.

In Cash Credit: ₹20,153.88, reflecting accessible credit.

In Deposit Account: ₹2,501.36, representing funds in time deposits.

Total Cash and Cash Equivalents: Final balance of ₹29,065.94 confirms robust cash management.

Dividend History

Particulars	2024	2023
Dividend Per Share (in rs.)	-	-
Retained Earnings (Rs. In Lakhs)	28,310.62	17,177.45

Kogta Financial Limited Recent Financial Performance

Dividend per Share: The specific dividend per share figure for 2024 and 2023 is not provided. Dividend per share represents the portion of a company 's earnings that is distributed to shareholders in the form of dividends. A higher dividend per share may indicate that the company is sharing more of its profits with shareholders.

Retained Earnings: Retained earnings for 2024 amounted to Rs 28,310.62

Lakhs, while in 2023, they were Rs. 17,177.45 Lakhs. Retained earnings represent the portion of a company 's profits that is reinvested in the business rather than distributed as dividends. An increase in retained earnings suggests that the company has retained more of its profits for reinvestment or future growth.

To provide a more comprehensive analysis, it would be necessary to consider additional financial metrics such as revenue, net profit, assets, liabilities, and cash flows. Additionally, an analysis of trends over multiple years and a comparison to industry benchmarks and competitors would help in assessing the company 's financial health and performance.