Konark Commercial Latest Annual Report | Balance Sheet and Financials

Konark Commercial Limited (Konark Commercial) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
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Konark Commercial Limited

Konark Commercial Limited Balance Sheet (In Rs)

Particulars	2021	2020
(1) ASSETS
Non-current assets
(a) Property, Plant and Equipment	11,11,36,616.00	5,913.50
(b) Capital work-in-progress	4,73,53,305
(c) Intangible Assets	1,02,445
(d) Financial Assets
(i) Investments	2,83,100	-
(ii) Others	79,35,002
(e) Other non-current assets	-	-
(f) Deferred Tax Assets (Net)	66,79,058.00	21,67,916.28
Total Non- current assets	17,34,89,526.00	18,55,95,761.00
(2) Current assets
(a) Inventories	11,94,62,444
(b) Financial Assets
(i) Trade receivables	21,80,18,117	-
(ii) Cash and cash equivalents	9,63,605.00	1,07,231.22
(iii) Bank Balances Other Than Above	-
(iv) Loans	6,81,65,083.00
(v) Others	-
(c) Current Tax Assets (Net)	1,08,12,345
(d) Non Current Assets classified as held for sale	-
(e) Other current assets	1,12,03,484.00	11,09,555.18
Total Current Assets	42,86,25,078.00	77,62,36,140.00
Total Assets	60,21,14,605.00	96,18,31,901.00
EQUITY AND LIABILITIES
Equity
(a) Equity Share capital	5,80,80,000.00	5,80,80,000.00
(b) Other Equity	6,22,77,547.00	4,72,57,379.00
LIABILITIES	12,03,57,547	10,53,37,379
Non-current liabilities
(a) Financial Liabilities
(i) Borrowings	11,21,30,399	11,17,59,648
Provisions	48,84,968	61,93,323
(b) Deferred tax liabilities (Net)	-	24,76,489
Total Non- Current Liabilities	11,70,15,367.00	12,04,29,460
Current liabilities
(a) Financial Liabilities
(i) Borrowings	24,04,41,164.00	38,31,02,158.00
(ii) Trade Payables
(a) Total outstanding dues of micro enterprises and small enterprises; and	15,51,600.00	20,57,359.00
(b) Total outstanding dues of creditors other than micro enterprises and small enterprises	9,63,65,698.00	14,67,64,559.00
(iii) Other Financial Liabilities	1,27,01,064.00	1,26,23,782.00
(b) Other current liabilities	1,33,34,794.00	19,12,69,272.00
(c) Current Tax Liabilities (Net)	-	-
(d) Provisions	3,47,370.00	2,47,932.00
Total Current Liabilities	36,47,41,691.00	73,60,65,062.00
Total Liabilities	48,17,57,058.00	85,64,94,522.00
Total Equity and Liabilities	60,21,14,605.00	96,18,31,901.00

Konark Commercial Limited Profit & Loss Statement (In Rs)

Revenue From Operations	18,37,68,894.00	71,30,38,877.00
Other Income	90,44,792	66,12,793
Total Income (I)	19,28,13,686.00	71,96,51,670.00
EXPENSES
Cost of materials consumed	5,27,00,923	7,95,57,262
Purchases of Stock-in-Trade	9,77,95,765.00	43,50,56,327.00
Changes in inventories of finished goods/ Stock-in -Trade	3,82,61,008	4,32,79,608
Employee benefits expense	1,02,01,451.00	7,79,34,456.00
Finance costs	3,55,79,624	4,49,69,920.00
Depreciation and amortization expense	1,60,62,450	2,54,60,914
Impairment of financial assets	-62,47,493	2,41,36,775
Other expenses	6,11,57,689.00	6,86,13,421.00
Total expenses (II)	30,55,11,417.00	79,90,08,683.00
Profit / (loss) before exceptional items and income tax (I-II)	-11,26,97,731.00	-7,93,57,013.00
Exceptional Items
Dimunition in the value of Investments of subsidiary	-	-8,48,88,000
Profit (Loss) on sale of Fixed Assets/Store	19,33,73,355	-2,43,45,998
Bad Debts	-7,35,73,513	-
Profit/(loss) before tax (III-IV)	71,02,112.00	-18,85,91,011.00
Tax expense:
(1) Current tax	4,00,000.00	-
(2) Deferred tax charge/ (benefits)	-95,04,804	-2,34,66,449
(3) Tax Expense for earlier years	-40,157	-
Profit / (Loss) after tax for the year (V - VI)	1,62,47,073.00	-16,51,24,562.00
Other Comprehensive Income, net of tax	-	-
Items that will not be classified to profit or loss
(i) Remeasurement gain/(loss) on defined benefit plans	13,43,297	-3,12,130
(ii) Income tax relating to remeasurement (gain)/loss on above	-3,49,257	-
Other comprehensive profit for the year	9,94,040	-3,12,130
Total Comprehensive Income for the year (VII-VIII)	1,72,41,113	-
Earnings per equity share (Face Value of Rs. 10/- each)
Basic – After Exceptional Items	2.8	-28.43
Basic – Before Exceptional Items	-17.83	-9.62
Diluted – After Exceptional Items	2.8	-28.43
Diluted – Before Exceptional Items	-17.83	-9.62

Konark Commercial Limited Consolidated Cash Flow Statement (In Rs)

Particulars	2021	2020
CASH FLOW FROM OPERATING ACTIVITIES:-
Net Profit before tax & Extra Ordinary Items	71,02,112.00	-7,93,57,013.00
Adjustment for:
Depreciation	1,60,62,450	2,54,60,914
Interest paid	3,55,79,624	4,49,69,920
Prior Period Adjustments	22,20,943	1,99,081
Provision for Impairment	-62,47,493	2,41,36,775
(Profit)Loss on Sale of Fixed Assets	-19,33,73,355	-
Interest Income (considered Seperately)	-79,27,212	-64,65,420
Operating Profit before Working capital changes	-14,65,82,932.00	89,44,256.00
Working Capital Changes:
(Increase)Decrease in Sundry debtors	12,22,64,529	-4,69,04,517.00
(Increase)Decrease in Loans & Advances	-58,65,393.00	-2,97,58,769.00
(Increase)Decrease in Inventories	4,46,35,109	4,82,04,929
Increase(Decrease) in Trade Payable(Incl.Work’g Cap.Fin)	-23,54,05,793.00	1,57,69,039.00
Cash Generated from Operations	-22,09,54,481.00	-37,45,062.00
Direct Taxes paid	-29,05,565	-13,41,515.00
Cash Flow Before Prior Period & Extra Ordinary Items	-22,38,60,046.00	-50,86,577.00
Prior Period & Extra Ordinary Items	-22,20,943.00	-1,99,081.00
Net Cash Flow From Operating Activities	-22,60,80,988.00	-52,85,658.00
B. CASH FLOW FROM INVESTING ACTIVITIES :
Purchase of Fixed Assets	-18,75,792	-1,46,10,604
Interest Income	79,27,212	64,65,420
Advance Received against Sale of Land and Building	-	15,86,23,589
Sale of fixed assets	24,17,40,279	70,94,748
Net Cash Outflow for investing Activities	24,77,91,700.00	15,75,73,153.00
C. CASH FLOW FROM FINANCING ACTIVITIES :
Proceeds from Long term borrowing (Net of Repayments)	3,70,751	58,44,865
Proceeds from Short term borrowing (Net of Repayments)	-14,26,60,993	3,20,97,003
Interest paid	-3,55,79,624	-4,49,69,920
Net Cash Flow from Financing Activities	-17,78,69,867	-70,28,052.00
Increase in cash and cash equivalents	-15,61,59,156.00	14,52,59,444.00
Cash &Cash Equivalent (Opening Balance)	15,71,22,761.00	1,18,63,317.00
Cash &cash equivalent(Closing balance)	9,63,605.00	15,71,22,761.00
Increase in cash & cash equivalent	-15,61,59,156.00	14,52,59,444.00

Here is a summary of the Cash Flow Statement for the years 2021 and 2020:

1. Cash Flow from Operating Activities:

Net Profit before tax & Extraordinary Items: In 2021, the company reported a net profit of ₹71,02,112, while in 2020, it suffered a loss of ₹7,93,57,013 before tax and extraordinary items.

Adjustments: Several adjustments were made to calculate cash flow from operating activities, including depreciation, interest paid, prior period adjustments, provision for impairment, profit or loss on sale of fixed assets, and interest income. These adjustments help reconcile non-cash expenses or revenues with actual cash flows.

Operating Profit before Working Capital Changes: After adjusting for non-cash items, the operating profit was negative in 2021 and positive in 2020.

Working Capital Changes: The changes in working capital components such as sundry debtors, loans & advances, inventories, and trade payable significantly impacted cash flows from operations.

Cash Generated from Operations: In 2021, cash generated from operations was negative, indicating that the company 's operating activities consumed cash. In contrast, in 2020, there was a positive cash flow from operations.

2. Cash Flow from Investing Activities:

The company made investments in fixed assets, with a higher outflow in 2021 compared to 2020.

Interest income earned from investments offset a portion of the investment outflow.

Advance received against the sale of land and building indicates a potential future cash inflow from the sale of assets.

Sale of fixed assets resulted in significant cash inflow, particularly in 2021.

3. Cash Flow from Financing Activities:

The company obtained proceeds from long-term and short-term borrowings, with a higher net inflow in 2021.

Interest paid on borrowings resulted in cash outflow.

Overall, there was a net cash outflow from financing activities in both years, indicating a reliance on external financing sources.

4. Increase in Cash and Cash Equivalents:

The company experienced a significant decrease in cash and cash equivalents in 2021 due to negative cash flows from operating and investing activities, despite a net inflow from financing activities.

In contrast, there was a substantial increase in cash and cash equivalents in 2020, primarily driven by positive cash flows from operating and investing activities.

5. Closing Cash & Cash Equivalents:

The closing balance of cash and cash equivalents decreased drastically in 2021, indicating a precarious financial position.

However, in 2020, the closing balance remained high, reflecting a healthier financial position.

Financial Ratios

Ratio	2021	2020
Debtors Turnover Ratio	0.63	1.49
Inventory Turnover Ratio	1.39	1.64
Interest Coverage Ratio	1.2	0.57
Net Profit Margin	4%	-26%
Current Ratio	1.18	1.31
Return on Capital Employed	-0.35	0.1
Return on Networth	-0.06	-2.5

Summary of Financial Ratios for the years 2021 and 2020:

1. Debtors Turnover Ratio:

In 2021, the debtors turnover ratio decreased to 0.63 from 1.49 in 2020. This indicates that the company took longer to collect payments from its debtors in 2021 compared to 2020.

2. Inventory Turnover Ratio:

The inventory turnover ratio decreased from 1.64 in 2020 to 1.39 in 2021. This suggests that the company 's inventory turnover slowed down, possibly indicating inefficient inventory management or decreased sales.

3. Interest Coverage Ratio:

The interest coverage ratio improved from 0.57 in 2020 to 1.2 in 2021. This indicates that the company 's ability to cover interest expenses with its earnings improved slightly in 2021.

4. Net Profit Margin:

The net profit margin improved from -26% in 2020 to 4% in 2021. This indicates that the company was able to generate a positive net profit margin in 2021, compared to a significant loss in 2020.

5. Current Ratio:

The current ratio decreased from 1.31 in 2020 to 1.18 in 2021. Although it 's still above 1, indicating that the company has more current assets than current liabilities, the decrease suggests a potential weakening of the company 's liquidity position.

6. Return on Capital Employed (ROCE):

The return on capital employed (ROCE) deteriorated from 0.1% in 2020 to -0.35% in 2021. This indicates that the company 's ability to generate profits from its capital employed turned negative in 2021.

7. Return on Net Worth (RONW):

The return on net worth (RONW) worsened from -2.5% in 2020 to -0.06% in 2021. This indicates that the company 's profitability relative to its net worth remained negative in 2021 but improved slightly compared to 2020.

Dividend History (NA)

Konark Commercial Annual Report

Konark Commercial Limited Annual Report -2021

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Konark Commercial Latest Annual Report, Balance Sheet and Financials

Konark Commercial Limited (Konark Commercial) Return Comparision with Primex 40 Index

Konark Commercial Limited Balance Sheet (In Rs)

Konark Commercial Limited Profit & Loss Statement (In Rs)

Konark Commercial Limited Consolidated Cash Flow Statement (In Rs)

Financial Ratios

Dividend History (NA)

Konark Commercial Annual Report

Konark Commercial Limited Annual Report -2021

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