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Lava Annual Reports, Balance Sheet and Financials

Lava International Limited (Lava) Return Comparision with Primex 40 Index

Periods 1 Week 1 Month 3 Months 6 Months 1 Year 3 Years All Time
Primex-40
Lava International Limited

Lava International Limited Balance Sheet (Rs in Millions)

Particulars

31-03-2024

31-03-2023

Non-current assets

 

 

Property, plant and equipment

474.93

568.89

Capital work-in-progress

201.69

191.99

Intangible assets

10.51

21.77

Right of use asset

82.14

116.89

Investments accounted for using the equity method

60.62

60.87

Investments in equity instruments of other entities

57.86

65.00

Investments in Subsidiaries

3,716.14

3,716.14

Other financial assets

55.02

124.26

Deferred tax assets

364.45

310.23

Other non-current assets

32.21

208.12

Current assets

 

 

Inventories

3,841.49

6,202.38

Investments

3.06

28.73

Trade receivables

3,925.57

6,563.70

Cash and cash equivalents

524.03

822.59

Other bank balances

843.09

914.95

Other financial assets

174.83

209.68

Other current assets

2,938.27

2,566.80

Total assets

17,305.91

22,692.99

Equity

 

 

Equity share capital

2,705.63

2,705.63

Instruments entirely equity in nature

33.42

33.42

Securities premium reserve

5,690.34

5,690.34

Treasury shares

-63.34

-63.34

Foreign currency translation reserve

285.07

728.96

Share based payment reserve

381.16

372.14

Retained earnings

465.77

4,107.09

Other reserve

29.89

17.31

Non-controlling interest

-0.54

-22.83

Non-current liabilities

 

 

Borrowings

132.77

229.82

Lease liabilities

66.75

109.47

Provisions

61.95

59.34

Current liabilities

 

 

Borrowings

991.00

1,815.08

Lease liabilities

42.70

38.40

Trade Payables

 

 

Total outstanding dues of micro enterprises and small

229.93

132.17

Total outstanding dues of creditors other than micro enterprises

3,819.20

4,655.93

Other financial liabilities

1,637.98

1,512.84

Other current liabilities

479.00

326.02

Provisions

164.24

133.78

Current tax liabilities

152.99

110.87

Total equity and liabilities

17,305.91

22,692.44

 

Lava International Limited Profit & Loss Statement (Rs in Millions)

Particulars

31-03-2024

31-03-2023

Income

 

 

Revenue from operations

36,460.55

49,026.55

Other income

209.43

273.84

Total income

36,669.98

49,300.39

Expenses

 

 

Cost of raw material and components consumed

17,858.78

16,913.71

Purchase of traded goods

10,633.47

22,995.29

Changes in inventories of finished goods, spares and stock in trade

2,181.57

667.83

Employee benefit expenses

1,808.66

1,999.17

Other expenses

3,157.10

4,211.03

Total expense

35,639.58

46,787.03

Earnings before share of loss

1,030.40

2,513.36

Depreciation and amortization expense

230.19

1,286.56

Finance costs

345.56

367.22

Profit before share of loss of an associate & joint venture and tax

454.65

859.58

Share of loss of joint venture, associates 

0.23

0.22

Profit before tax

454.42

859.58

Current tax

170.12

118.19

Tax charge

0.06

-16.98

Deferred tax

-54.28

5.69

Profit for the year

338.52

752.46

Other comprehensive income

 

 

Re-measurement gains/ losses of defined benefit plan

0.18

-1.71

Income tax relating to this item

0.05

-0.43

Change in fair value of FVOCI equity instruments

-37.58

-

Exchange difference on translation of foreign operations

443.89

-35.25

Other comprehensive income/ loss for the year

406.54

-37.39

Total comprehensive income for the year

-68.02

789.85

Profit for the year is attributable to

 

 

Equity holders of holding company

316.77

752.62

Non-controlling interest

21.74

0.15

Other comprehensive income of the year is attributable to

 

 

Equity holders of holding company

-406.54

37.39

Total comprehensive income for the year is attributable to

 

 

Equity holders of holding company

-89.76

790.01

Non-controlling interest

21.74

-0.15

Earnings per equity share

 

 

Basic

0.59

1.39

Diluted

0.59

1.28

 

Lava International Limited Consolidated Cash Flow Statement (Rs in Millions)

Particulars

31-03-2024

31-03-2023

Cash flow from operating activities

 

 

Profit before tax

454.42

859.36

Adjustment to reconcile profit before tax to net cash flows

 

 

Depreciation

230.19

1,286.56

Profit/ loss on sale of property, plant and equipment

-0.65

-1.95

Unrealized foreign exchange gain/ loss

0.14

-65.60

Net gain on sale of mutual fund investments

0.22

-0.30

Share of loss/ profit of associate

0.23

0.22

Fair value gain/ loss on derivative financial instruments at FVTPL

-1.83

1.96

Provision for share based payment expenses

9.02

16.83

Provision for inventories obsolescence

-69.54

-20.25

Provision for the trade receivables and advances

4.15

-0.20

Amortization of prepaid security deposit

0.97

0.97

Interest expense

228.40

256.65

Interest income

-93.89

-74.77

Operating profit before working capital changes

761.83

2,259.47

Movements in working capital:

 

 

Increase/ decrease in trade payables and other liabilities

-418.51

205.50

Increase/ decrease in provisions

33.06

-10.73

Increase/ decrease in trade receivables

-790.33

-1,445.05

Increase/ decrease in inventories

2,430.43

-450.36

Increase/ decrease in other assets

-772.02

-327.76

Cash generated from operations

1,244.47

231.08

Income taxes paid

-114.96

-262.01

Net cash flow from/ used in operating activities

1,129.51

-30.93

Cash flow from investing activities

 

 

Purchase/sale of property, plant and equipment including capital WIP, intangible & capital advances

-101.57

219.98

Proceeds from sale of property, plant and equipment

0.65

3.16

Investment in equity shares of other companies

6.81

-4.49

Purchase of mutual fund investments

-63.00

-53.50

sale of mutual fund investments

88.92

25.00

Investment in bank deposits

-1,929.09

-2,859.66

Maturity of bank deposits

2,066.27

2,995.09

Interest received

124.28

49.22

Net cash flow from/ used in investing activities

193.27

374.81

Cash flow from financing activities

 

 

Proceeds from long-term borrowings

80.61

13.51

Movement in Long term borrowings

-457.45

-

Movement in short term borrowings

-544.28

-94.72

Interest paid on lease liability

-16.30

-18.68

Payment of principal portion of lease liabilities

-38.42

-33.80

Interest paid on borrowings

-202.30

-216.69

Net cash flow from/ used in Financing activities

-1,178.14

-350.38

Net increase in cash and cash equivalents

144.63

-6.49

Effect of exchange rates on translation of operating cash flows

-443.20

77.96

Cash and cash equivalents at the beginning of the year

822.59

751.11

Cash and cash equivalents at the end of the year

524.03

822.59

Components of Cash and cash equivalents

 

 

Cash on hands

2.33

5.94

On deposits account

308.13

751.54

Other Balances

213.57

65.11

Total Cash and Cash Equivalents

524.03

822.59

 

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

Cash Flow from Operating Activities:

In 2024, the company generated a profit before tax of ₹454.42 million, a decrease compared to ₹859.36 million in 2023. Several adjustments were made to reconcile this profit to the actual cash generated from operations. Key adjustments include depreciation of ₹230.19 million (down from ₹1,286.56 million in 2023) and interest expenses of ₹228.40 million, as well as a small loss on the sale of property, plant, and equipment of ₹0.65 million. On the other hand, provisions such as inventory obsolescence (-₹69.54 million) and trade receivables provisions (₹4.15 million) were factored in.

There were substantial changes in working capital as well. Notably, inventories decreased by ₹2,430.43 million in 2024, representing a significant inflow of cash, whereas trade receivables saw a cash outflow of ₹790.33 million, indicating higher outstanding payments from customers. Additionally, trade payables and other liabilities decreased by ₹418.51 million, leading to a cash outflow. After accounting for taxes paid of ₹114.96 million, the net cash generated from operating activities amounted to ₹1,129.51 million in 2024, compared to a slight cash outflow of ₹30.93 million in 2023. This improvement reflects better cash management and a significant reduction in inventories, which boosted liquidity.

Cash Flow from Investing Activities:

Investing activities resulted in a net inflow of ₹193.27 million in 2024, down from ₹374.81 million in 2023. The major outflows were related to the purchase of property, plant, and equipment (₹101.57 million), whereas inflows were driven by the maturity of bank deposits totaling ₹2,066.27 million. The company also received ₹124.28 million in interest income. Notably, there were smaller inflows from the sale of mutual fund investments (₹88.92 million) and the proceeds from the sale of property (₹0.65 million). Despite these inflows, the overall cash generation from investing activities was lower than the previous year, largely due to significant investments in bank deposits.

Cash Flow from Financing Activities:

Financing activities resulted in a net outflow of ₹1,178.14 million in 2024, a significant increase from the outflow of ₹350.38 million in 2023. This was mainly due to repayments of both long-term and short-term borrowings, which amounted to ₹457.45 million and ₹544.28 million, respectively. Additionally, the company incurred interest payments of ₹202.30 million and ₹16.30 million in interest on lease liabilities. Payments related to the principal portion of lease liabilities totaled ₹38.42 million. Despite a small inflow from long-term borrowings of ₹80.61 million, the overall cash outflow from financing activities increased significantly, indicating higher debt repayments.

Net Increase in Cash and Cash Equivalents:

The overall net increase in cash and cash equivalents was ₹144.63 million in 2024, compared to a slight decrease of ₹6.49 million in 2023. However, the company also experienced a negative impact from the translation of foreign exchange, which resulted in a loss of ₹443.20 million. As a result, the cash and cash equivalents at the end of the year decreased to ₹524.03 million, down from ₹822.59 million at the beginning of the year.

Components of Cash and Cash Equivalents:

The company’s cash reserves at the end of 2024 included ₹2.33 million in cash on hand, ₹308.13 million in deposit accounts, and ₹213.57 million in other balances, which contributed to the total of ₹524.03 million. This was a decline compared to the previous year, reflecting lower liquidity as a result of higher debt repayments and investing activities.

Lava Limited Annual Reports

Lava International Annual Report 2023-24

Download

Lava International Annual Report 2022-23

Download

Lava International Annual Report 2021-2022

Download

Lava International Annual Report 2020-2021

Download

Lava International Annual Report 2019-2020

Download

Corporate Actions

AGM Notice

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Recent News

Lava International Ltd restructures its board, excluding former chairman Hari Om Rai
Created at 24 May 2024 23:22
Lava International submits draft papers for its initial public offering (IPO).
Created at 15 Dec 2020 05:30
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