| Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
|---|---|---|---|---|---|---|---|
| Primex-40 | |||||||
| Kores India Limited |
|
Particulars |
31-03-2025 |
31-03-2024 |
|
Non-current assets |
|
|
|
Plant, property and equipment |
305.61 |
199.76 |
|
Investment property |
3.16 |
3.10 |
|
Intangible assets |
0.42 |
0.64 |
|
Capital work in progress |
3.34 |
21.16 |
|
Non current investment |
8.85 |
5.35 |
|
Long term loans and advances |
0.22 |
0.17 |
|
Other non current assets |
2.46 |
2.54 |
|
Current assets |
|
|
|
Inventories |
129.34 |
105.77 |
|
Trade receivables |
150.59 |
135.90 |
|
Cash and cash equivalent |
8.58 |
7.41 |
|
Short term loans and advances |
56.31 |
59.15 |
|
Other current assets |
0.54 |
0.36 |
|
Total assets |
669.42 |
541.32 |
|
Equity |
|
|
|
Equity share capital |
12.84 |
13.00 |
|
Other equity |
190.53 |
173.39 |
|
Non controlling interest |
11.12 |
10.41 |
|
Non-Current liabilities |
|
|
|
Long term borrowing |
108.12 |
73.73 |
|
Deferred tax liabilities |
20.08 |
14.55 |
|
Other long term liabilities |
11.42 |
10.93 |
|
Long term provisions |
7.59 |
7.15 |
|
Current liabilities |
|
|
|
Short term Borrowings |
117.62 |
84.46 |
|
Trade payables |
160.79 |
129.08 |
|
Other current liabilities |
23.21 |
17.07 |
|
Short term Provisions |
6.09 |
7.54 |
|
Total equity and liabilities |
669.42 |
541.32 |
|
Particulars |
31-03-2025 |
31-03-2024 |
|
Income |
|
|
|
Revenue from Operations |
940.64 |
973.15 |
|
Other Income |
5.40 |
4.69 |
|
Total Income |
946.04 |
977.84 |
|
Expenses |
|
|
|
Cost of material consumed |
357.96 |
353.96 |
|
Purchase of stock in trade |
128.16 |
141.10 |
|
Changes in inventories of finished goods and WIP |
-17.40 |
4.76 |
|
Employee benefits expense |
146.86 |
134.29 |
|
Finance costs |
15.70 |
14.67 |
|
Depreciation & amortization expense |
19.98 |
18.40 |
|
Other Expenses |
258.09 |
252.66 |
|
Total Expenses |
909.35 |
919.85 |
|
Profit/(loss) before tax |
36.69 |
57.99 |
|
For current tax |
6.67 |
16.24 |
|
For earlier year tax |
0.24 |
- |
|
For current tax |
5.55 |
2.83 |
|
Profit/ Loss after tax |
24.23 |
38.91 |
|
Less : minority interest |
0.71 |
2.14 |
|
Net profit for the year |
23.52 |
36.77 |
|
Earning per share |
|
|
|
Basic |
21.53 |
33.27 |
|
Diluted |
21.38 |
33.27 |
|
Particulars |
31-03-2025 |
31-03-2024 |
|
Cash Flow from Operating Activities |
|
|
|
Net Profit/(loss) Before Tax |
36.69 |
57.99 |
|
Adjustment for -: |
|
|
|
Depreciation |
19.98 |
18.40 |
|
Interest and finance charges |
15.70 |
14.67 |
|
Loss/(profit) on sale of investment |
- |
-0.01 |
|
Loss/(profit) on sale of assets |
0.53 |
1.01 |
|
Interest / dividend
income |
1.93 |
2.04 |
|
Adjustment for change in working capital |
|
|
|
Inventories |
-23.57 |
9.83 |
|
Sundry debtors |
-14.69 |
6.41 |
|
Loans and advances |
2.91 |
-18.63 |
|
Current liabilities |
38.75 |
-7.24 |
|
Cashflow generated from operations |
74.36 |
80.38 |
|
Income tax paid |
7.29 |
15.84 |
|
Net Cash from/(used in) Operating Activities |
67.07 |
64.54 |
|
Cash Flow from Investing Activities |
|
|
|
Purchase of fixed assets/ capital work in
progress |
-109.94 |
-41.61 |
|
Capital subsidy |
-0.09 |
0.62 |
|
Sale proceeds of fixed assets |
1.57 |
1.18 |
|
(increase)/decrease in investment |
-3.50 |
- |
|
Interest and dividend income |
1.77 |
1.92 |
|
Net Cash from / (used in) Investing Activities |
-110.20 |
-37.88 |
|
Cash Flow from Financing Activities |
|
|
|
Increase/(decrease) in cash credit |
36.62 |
-28.44 |
|
Increase/(decrease) in term loans |
30.92 |
21.51 |
|
Increase/(decrease) in unsecured loans |
0.01 |
-3.19 |
|
Buyback of equity shares |
-2.77 |
- |
|
Interest paid |
-16.00 |
-14.13 |
|
Dividend paid |
-4.48 |
-3.48 |
|
Net Cash from/(used in) Financing Activities |
44.30 |
-27.74 |
|
Net Increase/decrease in Cash & cash
equivalents |
1.17 |
-1.06 |
|
Cash and cash equivalents at the beginning of the
year |
7.41 |
8.47 |
|
Cash and cash equivalents at the end of the year |
8.58 |
7.41 |
Summary of the Cash Flow Statement for the
years 2025 and 2024:
Cash Flow from Operating Activities
During the year ended 31-03-2025, the company generated
a net cash inflow of ₹67.07 crores from operating activities compared to ₹64.54
crores in 2024, showing a slight improvement in operating cash generation
despite a fall in net profit before tax from ₹57.99 crores to ₹36.69 crores.
The increase in cash flow was mainly supported by non-cash expenses such as
depreciation (₹19.98 crores) and interest and finance charges (₹15.70 crores),
along with favourable working capital changes, especially a significant
increase in current liabilities (₹38.75 crores), which boosted cash flow.
However, this was partially offset by higher inventories (₹23.57 crores) and
debtors (₹14.69 crores), which consumed cash. Overall, efficient working
capital management helped the company maintain stable operating cash flows.
Cash Flow from Investing Activities
The company recorded a substantial net cash outflow of
₹110.20 crores in 2025 compared to ₹37.88 crores in 2024, indicating a sharp
rise in investment activities. The primary reason for this heavy outflow was
significant capital expenditure on fixed assets and capital work-in-progress
amounting to ₹109.94 crores, suggesting expansion or capacity enhancement.
Inflows were minimal and included sale proceeds of fixed assets (₹1.57 crores)
and interest/dividend income (₹1.77 crores), while there was also a small
increase in investments of ₹3.50 crores. Overall, the company appears to be in
a strong expansion phase with heavy focus on long-term asset creation.
Cash Flow from Financing Activities
The company showed a net inflow of ₹44.30 crores from
financing activities in 2025 as against a net outflow of ₹27.74 crores in 2024,
mainly due to increased borrowings. Cash credit increased by ₹36.62 crores and
term loans by ₹30.92 crores, indicating reliance on external funding to support
operations and investments. However, this was partially reduced by outflows
such as interest payments (₹16.00 crores), dividend payments (₹4.48 crores),
and share buyback (₹2.77 crores). Overall, financing activities indicate higher
dependence on debt funding during the year.
Net Increase/Decrease in Cash & Cash
Equivalents
Overall, the company recorded a marginal net increase in
cash and cash equivalents of ₹1.17 crores in 2025 compared to a slight decrease
of ₹1.06 crores in 2024, with closing cash balances rising from ₹7.41 crores to
₹8.58 crores. This indicates that despite heavy investment outflows, the
company managed to maintain a stable liquidity position supported by strong
operating cash flows and increased borrowings, though growth in cash remains
modest
|
Particulars |
31-03-2025 |
31-03-2024 |
|
Current ratio |
1.12 |
1.30 |
|
Debt to equity ratio |
1.05 |
0.81 |
|
Debt service coverage
ratio |
0.30 |
0.51 |
|
Return on equity |
11.44 |
20.51 |
|
Inventory turnover
ratio |
5.93 |
6.66 |
|
Trade receivables
turnover ratio |
6.57 |
7.00 |
|
Trade payables turnover
ratio |
5.19 |
5.77 |
|
Net capital turnover
ratio |
17.41 |
18.31 |
|
Net profit % |
2.50 |
3.78 |
|
Return on capital employed |
14.29 |
23.26 |
Summary of Financial Ratios for the year 2025
and 2024.
Current Ratio
The current ratio of Kores (India) Limited declined from
1.30
in 31-03-2024 to 1.12 in 31-03-2025, indicating a
weakening short-term liquidity position. Although the ratio is still slightly
above 1, it shows that the company’s margin of safety to meet its short-term
obligations has reduced. The decline suggests relatively faster growth in
current liabilities compared to current assets, which may put mild pressure on
liquidity management.
Debt to Equity Ratio
The debt-equity ratio increased from 0.81
in 2024 to 1.05 in 2025, indicating a significant rise in financial
leverage. This means the company is now more dependent on borrowed funds
compared to shareholders’ funds. The increase is consistent with higher
borrowing levels seen in financing activities, suggesting increased financial
risk due to higher debt burden.
Debt Service Coverage Ratio
The DSCR declined sharply from 0.51
in 2024 to 0.30 in 2025, which is a negative indicator of the
company’s ability to service its debt obligations. A ratio below 1 in both
years indicates that operating profits are insufficient to fully cover debt
servicing requirements. The further decline reflects increased financial stress
and higher dependency on external financing.
Return on Equity
The return on equity decreased significantly from 20.51%
in 2024 to 11.44% in 2025, indicating a fall in profitability
for shareholders. This decline is mainly due to lower net profits combined with
a higher equity base and increased leverage. It suggests reduced efficiency in
generating returns from shareholders’ funds.
Inventory Turnover Ratio
The inventory turnover ratio declined from 6.66
times in 2024 to 5.93 times in 2025, indicating slower
movement of inventory. This suggests that the company is holding inventory for
a longer period, which may lead to higher carrying costs and potential
inefficiency in inventory management.
Trade Receivables Turnover Ratio
The trade receivables turnover ratio decreased slightly
from 7.00
times to 6.57 times, showing a marginal slowdown in collection
efficiency. This indicates that the company is taking slightly longer to
collect payments from customers, which may impact liquidity.
Trade Payables Turnover Ratio
The trade payables turnover ratio reduced from 5.77
times in 2024 to 5.19 times in 2025, suggesting that
the company is taking a longer time to pay its suppliers. This may reflect a
deliberate effort to manage working capital or liquidity pressure within the
business.
Net Capital Turnover Ratio
The net capital turnover ratio declined slightly from 18.31
times to 17.41 times, indicating a marginal decrease in
efficiency in utilizing working capital to generate revenue. Despite the
decline, the ratio remains strong, suggesting effective utilization of capital
employed in operations.
Net Profit Ratio
The net profit margin reduced from 3.78%
in 2024 to 2.50% in 2025, indicating a decline in overall profitability.
This fall is due to lower operating performance and higher cost pressures,
reflecting reduced efficiency in cost control and profit generation.
Return on
Capital Employed
The ROCE decreased significantly from 23.26%
in 2024 to 14.29% in 2025, showing a decline in the efficiency
with which the company is using its total capital. This reduction is due to
lower operating profits and increased capital employed, indicating weakening
overall financial performance.
