Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
---|---|---|---|---|---|---|---|
Primex-40 | |||||||
Mahindra Rural Housing Finance Limited |
Particulars |
31-03-2024 |
31-03-2023 |
Financial Assets |
|
|
Cash and cash equivalents |
57,673.26 |
31,494.46 |
Bank balance other than above |
16,372.47 |
88,702.87 |
Loans |
6,93,329.82 |
6,84,524.55 |
Investments |
23,851.32 |
34,095.06 |
Other financial assets |
1,808.88 |
3,332.71 |
Non-financial Assets |
|
|
Current tax assets (Net) |
2,905.66 |
1,920.89 |
Deferred tax assets (Net) |
10,900.05 |
11,028.76 |
Property, Plant and Equipments |
12,165.95 |
12,527.61 |
Other intangible assets |
583.23 |
23.61 |
Other non-financial assets |
3,500.05 |
4,125.99 |
Total Assets |
8,23,090.69 |
8,71,776.51 |
Financial Liabilities |
|
|
Trade Payables |
|
|
total outstanding dues of micro enterprises and small enterprises |
21.51 |
1.32 |
total outstanding dues of creditors other than micro and small ent |
4,185.39 |
4,366.40 |
Other Payables |
|
|
total outstanding dues of creditors other than micro and small ent |
22.30 |
22.28 |
Debt Securities |
3,16,247.21 |
3,16,771.91 |
Borrowings |
2,72,069.19 |
3,19,162.66 |
Subordinated Liability |
46,078.58 |
46,049.24 |
Other Financial Liability |
33,704.51 |
35,107.89 |
Non-Financial Liabilities |
|
|
Provisions |
1,372.09 |
1,480.32 |
Other Non-Financial Liabilities |
580.95 |
651.47 |
Equity |
|
|
Equity Share Capital |
12,233.07 |
12,213.75 |
Other Equity |
1,36,575.89 |
1,35,949.27 |
Total Liabilities and Equity |
8,23,090.69 |
8,71,776.51 |
Particulars |
31-03-2024 |
31-03-2023 |
Revenue from Operations |
|
|
Interest income |
1,24,425.67 |
1,30,371.65 |
Fees and commission income |
726.71 |
1,012.20 |
Net gain / (loss) on fair value changes and derecognised financial instruments |
2,049.86 |
1,982.60 |
Other income |
2,241.35 |
1,613.58 |
Total Income |
1,29,443.59 |
1,34,980.03 |
Expenses |
|
|
Finance costs |
53,625.65 |
52,512.77 |
Fees and commission expense |
757.87 |
707.17 |
Impairment on financial instruments |
13,360.89 |
17,222.85 |
Employee benefits expenses |
41,924.75 |
40,442.66 |
Depreciation, amortisation and impairment |
3,287.87 |
2,625.74 |
Other expenses |
16,002.39 |
18,839.89 |
Total Expenses |
1,28,959.42 |
1,32,351.08 |
Profit / (Loss) before tax |
484.17 |
2,628.95 |
Deferred tax |
123.68 |
835.08 |
(Excess) / Short Provision for Income Tax - earlier years |
- |
-380.91 |
Profit / (Loss) for the year |
360.49 |
2,174.78 |
Other Comprehensive Income |
|
|
Items that will not be reclassified to profit or loss |
|
|
Remeasurement loss on defined benefit plans |
-120.46 |
-55.37 |
Income tax impact thereon |
30.32 |
13.93 |
Items that will be reclassified to profit or loss |
|
|
Net gain / (loss) on debt instruments through OCI |
140.46 |
-194.77 |
Income tax impact thereon |
-35.35 |
49.02 |
Other Comprehensive Income / (Loss) |
14.97 |
-187.19 |
Total Comprehensive Income / (Loss) for the year |
375.46 |
1,987.59 |
Earnings per equity share (for continuing operations) |
|
|
Basic |
0.29 |
1.78 |
Diluted |
0.29 |
1.78 |
Particulars |
31-03-2024 |
31-03-2023 |
Cash flow from Operating Activities |
|
|
Profit before taxes |
484.17 |
2,628.95 |
Add/(Less): |
|
|
Adjustments to reconcile profit before tax to net cash flows |
|
|
Depreciation and amortization expense |
3,287.87 |
2,625.74 |
Impairment on financial instruments |
19,991.35 |
23,339.44 |
Interest income |
-1,24,425.68 |
-1,30,371.65 |
Interest expense |
53,390.85 |
52,148.87 |
Loss/ (profit) on sale of Property, Plant and Equipment |
-15.94 |
-22.21 |
Share based payments to employees |
141.00 |
544.7 |
Profit on sale of investments in mutual funds |
-2,208.25 |
-2,792.09 |
Net gain / (loss) on financial instruments at FVTPL |
158.39 |
809.49 |
Operating profit before working capital changes |
-49,196.24 |
-51,088.76 |
Working capital changes in |
|
|
Loans |
-27,274.76 |
3,418.22 |
Other financial assets |
1,480.96 |
-1,911.14 |
Other non-financial assets |
-136.86 |
-886.96 |
Trade payable |
-160.80 |
-3,159.52 |
Other liabilities |
584.94 |
-1,740.80 |
Provisions |
-228.69 |
-210.84 |
Cash used in operations |
-74,931.45 |
-55,579.80 |
Interest received |
1,22,903.82 |
1,21,973.79 |
Interest paid |
-56,073.77 |
-51,465.14 |
Income tax paid (net of refunds) |
-984.77 |
-2,459.73 |
Net cash generated from/used in operating activities |
-9,086.17 |
12,469.12 |
Cash Flow from Investing Activities |
|
|
Purchase of Property, Plant and Equipment and Intangible assets |
-1,880.47 |
-4,160.44 |
Proceeds from sale of Property, Plant and Equipment |
147.28 |
111.43 |
Purchase of investments |
-3,16,944.65 |
-1,92,700.22 |
Proceeds from sale of investments |
3,29,284.05 |
2,22,263.77 |
Investments in term deposits with banks |
-91,203.47 |
-1,39,312.76 |
Proceeds from term deposits with banks |
1,63,533.87 |
73,754.94 |
Net cash used in Investing Activities |
82,936.61 |
-40,043.28 |
Cash Flow from Financing Activities |
|
|
Debt securities issued |
1,75,037.50 |
57,500.00 |
Debt securities repaid |
-1,74,500.00 |
-75,500.00 |
Borrowings other than debt securities |
82,700.00 |
1,68,400.00 |
Borrowings other than debt securities repaid |
-1,29,796.06 |
-1,32,720.04 |
Payment for principal portion of lease liability |
-1,250.61 |
-842.86 |
Net Cash generated from financing activities |
-47,809.17 |
16,837.10 |
Net Increase/Decrease in cash and cash equivalents |
26,041.27 |
-10,874.59 |
Cash and Cash equivalents at the beginning of the year |
31,631.99 |
42,369.05 |
Cash and Cash equivalents at the end of the year |
57,673.26 |
31,494.46 |
Here is a summary of the Cash Flow Statement for the years 2024 and 2023:
Cash Flow from Operating Activities
The company’s cash flow from operating activities reveals a significant shift from positive to negative cash flow. In 2024, the net cash used in operating activities was −9,086.17-9,086.17 lakhs, down from a positive 12,469.1212,469.12 lakhs in 2023.
Profit Before Taxes: The profit before taxes decreased from 2,628.952,628.95 lakhs in 2023 to 484.17484.17 lakhs in 2024, indicating a reduction in the company’s core profitability before adjusting for non-cash and financing items.
Adjustments for Non-Cash Items: Key adjustments include a high depreciation and amortization expense, which increased from 2,625.742,625.74 lakhs to 3,287.873,287.87 lakhs, reflecting the aging or acquisition of assets. A major component of the cash outflow comes from the impairment on financial instruments, which was 19,991.3519,991.35 lakhs in 2024, only slightly lower than the previous year. Additionally, substantial interest income (−1,24,425.68-1,24,425.68 lakhs in 2024) and interest expenses (53,390.8553,390.85 lakhs) indicate that the company has significant financial investments and borrowings.
Working Capital Changes: Working capital adjustments, such as changes in loans (−27,274.76-27,274.76 lakhs), other financial assets, and liabilities, show shifts in the company 's operational liquidity. The considerable increase in loans reflects higher cash usage, suggesting more resources have been tied up in receivables or other financial instruments.
Interest and Tax Payments: High interest payments (−56,073.77-56,073.77 lakhs) and a slight reduction in net tax payments indicate that financing costs remain a substantial outflow. The overall cash used in operating activities indicates the company experienced increased operational costs or lower collections, impacting liquidity.
Cash Flow from Investing Activities
In 2024, the company had positive cash flow from investing activities, amounting to 82,936.6182,936.61 lakhs, which is a notable improvement from the negative cash flow of −40,043.28-40,043.28 lakhs in 2023.
Investments: The company made significant purchases of investments totaling −3,16,944.65-3,16,944.65 lakhs, up from −1,92,700.22-1,92,700.22 lakhs, which demonstrates an aggressive investment strategy. However, proceeds from the sale of investments also increased to 3,29,284.053,29,284.05 lakhs, resulting in net cash inflows.
Term Deposits: A shift in term deposits was observed. Deposits with banks decreased to −91,203.47-91,203.47 lakhs, while withdrawals increased to 1,63,533.871,63,533.87 lakhs. This suggests the company is using previously locked-in cash resources to improve liquidity.
Capital Expenditure: Capital expenditure on property, plant, and equipment decreased to −1,880.47-1,880.47 lakhs, down from −4,160.44-4,160.44 lakhs, reflecting reduced spending on asset expansion or replacement, which could be a sign of cost control measures.
Overall, the positive cash flow from investing activities in 2024 mainly results from strategic investments and liquidity management, helping offset the cash used in operating activities.
Cash Flow from Financing Activities
The financing activities show a substantial cash outflow of −47,809.17-47,809.17 lakhs in 2024, a reversal from a positive cash inflow of 16,837.1016,837.10 lakhs in 2023.
Debt Securities: The company issued debt securities worth 1,75,037.501,75,037.50 lakhs, while repaying 1,74,500.001,74,500.00 lakhs, resulting in a net cash flow effect close to zero for debt securities. This reflects refinancing efforts without major increases in debt levels.
Borrowings: The company saw inflows from other borrowings amounting to 82,700.0082,700.00 lakhs but repaid 1,29,796.061,29,796.06 lakhs. The net repayment of borrowings indicates a reduction in overall debt levels, improving the long-term leverage situation but also creating cash outflows.
Lease Liabilities: Payments for lease liabilities amounted to −1,250.61-1,250.61 lakhs, which is relatively consistent, indicating ongoing fixed obligations without new lease commitments.
The significant cash outflow in financing activities shows that the company is focused on debt repayments, possibly as part of a strategy to strengthen its balance sheet by reducing debt.
Net Cash Movement and Closing Balance
The net increase in cash and cash equivalents for 2024 was 26,041.2726,041.27 lakhs, a recovery from the decline of −10,874.59-10,874.59 lakhs in 2023. Consequently, cash and cash equivalents rose to 57,673.2657,673.26 lakhs at the end of 2024 from 31,494.4631,494.46 lakhs in 2023. This increase in cash reserves is primarily due to proceeds from investments and term deposits, which helped offset the high cash outflows in operating and financing activities.