Manjushree Technopack Limited (Manjushree Technopack) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Manjushree Technopack Limited

Manjushree Technopack Limited Standalone Balance Sheet (Rs in Lakhs)

Particulars	31-03-2025	31-03-2024
Non-Current Assets
Property, plant and equipment	1,23,306.44	78,070.91
Right of use assets	23,128.54	20,591.43
Capital work-in-progress	3,407.71	4,878.65
Goodwill	23,902.67	18,482.81
Other Intangible assets	15,015.51	15,677.35
Intangible assets under development	656.47	668.45
Investments	2,232.39	1,968.46
Loans	3,490.36	2,755.98
Other non-current assets	5,320.95	9,636.23
Current Assets
Inventories	53,345.43	35,357.80
Trade receivables	42,374.56	30,107.24
Cash and cash equivalents	11,334.55	2,439.56
Bank balances other than above	277.06	82.46
Other financial assets	51.45	248.62
Other current assets	12,689.51	6,961.46
Assets held-for-sale	-	503.95
Total Assets	3,20,533.60	2,28,431.36
Equity
Equity share capital	1,733.89	1,371.86
Other equity	1,41,125.37	99,442.45
Non-Current Liabilities
Borrowings	38,236.63	38,440.75
Lease liabilities	11,503.91	11,939.87
Other financial liabilities	2,241.34	1,787.14
Provisions	254.38	175.43
Deferred tax liabilities	5,247.54	4,424.65
Current Liabilities
Borrowings	59,105.60	36,924.89
Lease liabilities	4,137.22	3,069.11
Trade Payables:
Total Outstanding dues of Micro and small enterprise	4,259.37	2,020.89
Total Outstanding dues of Creditores other than above	36,509.88	25,597.50
Other financial liabilities	6,515.41	1,683.27
Other liabilities	9,592.53	1,523.72
Provisions	70.53	29.83
Total Equity and Liabilities	3,20,533.60	2,28,431.36

Manjushree Technopack Limited Standalone Profit & Loss Statement (Rs in Lakhs)

Particulars	31-03-2025	31-03-2024
Revenue
Revenue from operations	2,56,982.63	2,11,700.27
Other income	1,420.31	1,329.75
Total income	2,58,402.94	2,13,030.02
Cost of materials consumed	1,55,041.83	1,25,534.41
Purchase of stock in trade	3,190.47	392.77
Changes in inventories	-8,940.03	-2,248.77
Employee benefits expense	28,997.22	13,850.26
Other manufacturing expenses	23,411.96	22,098.15
Finance cost	12,225.89	9,145.78
Depreciation and amortisation	19,932.66	15,487.96
Other expenses	15,561.43	14,740.46
Total expenses	2,49,421.43	1,99,001.02
Profit before exceptional items and tax	8,981.51	14,029.00
Exceptional items	19,442.15	2,056.06
Profit before tax	28,423.66	16,085.06
Current Tax	-682.62	-640.00
Current tax relating to earlier years	-368.93	952.34
Deferred Tax	-857.41	-2,318.52
Profit for the year	26,514.70	14,078.88
Other comprehensive income
Items that will not be reclassified to Profit & Loss:
Remeasurements of net defined benefit liability	-269.36	33.67
Income tax relating to net defined benefit liability	76.27	-8.47
Net gain equity instruments through other comprehensive income	263.93	98.05
Income tax relating to gain on equity instruments through Other comprehensive income	-41.75	-24.68
Total comprehensive income	26,543.79	14,177.45
Earnings per share (Basic)	39.06	20.78
Earnings per share (Diluted)	36.65	18.78

Manjushree Technopack Limited Standalone Cash Flow Statement (Rs in Lakhs)

Particulars	31-03-2025	31-03-2024
Cash flows from operating activities
Profit before tax	28,423.66	16,085.06
Adjustments for:
Depreciation and amortisation expense	19,932.66	15,487.96
Loss/(gain) on sale/discard of PPE (net)	53.95	-1,536.37
Provision for doubtful trade receivables	224.92	146.00
Other receivables written off	37.68	164.90
Interest income	-755.74	-376.10
Rental Income	0.00	-129.78
Share-based payments	0.00	356.27
Liabilities no longer required written back	-296.87	-253.65
Gain on extinguishment of financial liability	-20,196.02	0.00
Fair value adjustment - contingent consideration	0.00	-1,028.91
Reduction in carrying value of non-current assets held for sale	0.00	124.81
Net foreign exchange differences (unrealised)	0.64	4.00
Finance costs	12,225.89	9,145.78
Operating profit before working capital changes	39,650.77	38,189.97
Adjustments for:
Inventories	-13,298.97	-125.93
Trade receivables	-2,316.94	445.58
Current & non-current assets & other financial assets	-4,160.51	63.28
Trade payables	4,046.52	572.84
Other liabilities	8,365.86	-761.04
Provisions	-301.02	-544.23
Cash flows generated from operations	31,985.71	37,840.47
Income taxes received/(paid)	2,366.54	-2,599.48
Net cash flows from operating activities	34,352.25	35,240.99
Cash flows from investing activities
Purchase of Property, Plant & Equipment	-25,301.65	-18,913.78
Proceeds from sale of Property, Plant & Equipment	160.05	6,699.09
Acquisition of new businesses	-49,221.27	-1,500.00
Acquisition of new businesses (prior)	0.00	-1,502.63
Purchase of non-current investment	0.00	-270.00
Deposit in CSR Account	-31.11	0.00
Rental received	0.00	129.79
Margin Money deposit	-142.35	36.87
Interest received	748.60	388.71
Net cash flows used in investing activities	-73,787.73	-14,931.95
Cash flows from financing activities
Proceeds from long term borrowings	10,196.61	4,499.83
Proceeds from issue of CCDs	52,909.69	0.00
Repayment of long term borrowings	-7,201.33	-4,176.33
Proceeds/repayment of short term borrowings (net)	17,871.16	-2,843.58
Repayment of lease liabilities	-3,503.08	-2,741.23
Dividend paid	-7,248.02	-8,819.55
Interest paid on Lease Liabilities	-1,484.55	-1,350.19
Interest and financing charges paid	-13,210.01	-10,275.14
Net cash flows from financing activities	48,330.47	-25,706.19
Net increase / (decrease) in cash and cash equivalents	8,894.99	-5,397.15
Cash and cash equivalents at beginning of year	2,439.56	7,836.71
Cash and cash equivalents at end of year	11,334.55	2,439.56

Here is a summary of the Cash Flow Statement for the years 2025 and 2024:

Cash Flows from Operating Activities

The company recorded a net cash inflow from operating activities of ₹34,352.25 lakhs in FY 2025, slightly lower than ₹35,240.99 lakhs in FY 2024.

The profit before tax increased significantly to ₹28,423.66 lakhs (from ₹16,085.06 lakhs), indicating improved operational profitability.

Major non-cash adjustments included:

Depreciation & amortization: ₹19,932.66 lakhs (up from ₹15,487.96 lakhs), reflecting greater capital asset usage or additions.

Finance costs: ₹12,225.89 lakhs, up from ₹9,145.78 lakhs.

A significant adjustment was a non-cash gain on extinguishment of financial liability amounting to ₹20,196.02 lakhs, which reduced the overall cash from operations.

Other minor adjustments such as provisions for doubtful debts, written-off receivables, and liabilities written back were also accounted for.

The working capital changes (adjustments for inventories, receivables, payables, etc.) showed a net outflow of cash:

Increase in inventories and current/non-current assets consumed significant cash (₹13,298.97 lakhs and ₹4,160.51 lakhs respectively).

Increase in other liabilities (₹8,365.86 lakhs) and trade payables (₹4,046.52 lakhs) partially offset these outflows.

After considering income tax refunds and payments (net receipt of ₹2,366.54 lakhs), the operating cash flow remained healthy despite marginally dropping from the previous year.

Cash Flows from Investing Activities

The net cash used in investing activities sharply increased to ₹73,787.73 lakhs in FY 2025, compared to ₹14,931.95 lakhs in FY 2024.

Key investment activities included:

Purchase of Property, Plant & Equipment: ₹25,301.65 lakhs (up from ₹18,913.78 lakhs), indicating ongoing capital investment.

Acquisition of new businesses: A massive outflow of ₹49,221.27 lakhs was recorded, significantly higher than the previous year’s ₹1,500 lakhs, pointing to expansion efforts.

Other components like margin money deposit (₹142.35 lakhs) and CSR deposit (₹31.11 lakhs) contributed to minor outflows.

Interest received of ₹748.60 lakhs was the only significant inflow, and notably, no rental income or asset sales occurred at scale in FY 2025 (vs ₹6,699.09 lakhs in FY 2024 from asset sales and ₹129.79 lakhs rental income).

This section reflects strategic business expansion but comes at a high cash cost.

Cash Flows from Financing Activities

In FY 2025, the company saw a strong net cash inflow of ₹48,330.47 lakhs from financing activities, compared to a significant outflow of ₹25,706.19 lakhs in FY 2024.

Key contributors:

Issue of CCDs (Compulsorily Convertible Debentures) raised ₹52,909.69 lakhs in FY 2025 (none in FY 2024).

Additional long-term borrowings brought in ₹10,196.61 lakhs.

However, the company also repaid:

Long-term borrowings worth ₹7,201.33 lakhs,

Lease liabilities of ₹3,503.08 lakhs,

Interest and financing charges totaling ₹14,694.56 lakhs (including lease-related interest),

Dividends amounting to ₹7,248.02 lakhs.

This sharp increase in financing cash reflects aggressive capital raising to fund expansion and sustain operations.

Net Change in Cash and Final Position

The net increase in cash and cash equivalents was ₹8,894.99 lakhs, a significant improvement over the net decrease of ₹5,397.15 lakhs in FY 2024.

As a result, cash and cash equivalents increased to ₹11,334.55 lakhs at year-end FY 2025 from ₹2,439.56 lakhs at the beginning of the year.

Financial Ratios of Manjushree Technopack Limited

Particulars	2025	2024
Current ratio	1	1.06
Debt Equity ratio	0.68	0.75
Debt Service Coverage ratio	2.4	2.22
Return on equity ratio (in %)	21.79%	14.47%
Inventory Turnover ratio	3.37	3.5
Trade receivables turnover ratio	7.09	6.93
Trade Payables turnover ratio	4.92	4.64
Net capital turnover ratio	18.78	15.26
Net profit ratio (in %)	10.27%	6.66%
Return on capital employed (in %)	20.32%	16.49%

Here is a summary of the financial and operational metrics for Manjushree Technopack Limited for the year 2025 and 2024:

Current Ratio 2025: 1.00 | 2024: 1.06

The current ratio measures the company’s ability to meet short-term obligations using its current assets. A ratio of 1.00 means that current assets are just enough to cover current liabilities. The slight decline from 1.06 in 2024 suggests marginally tighter liquidity in 2025, indicating the company is operating on leaner working capital.

Debt-Equity Ratio 2025: 0.68 | 2024: 0.75

This ratio shows the proportion of debt used to finance the company 's assets compared to equity. A decrease from 0.75 to 0.68 implies the company has reduced financial leverage, relying slightly more on internal funding, which improves financial stability.

Debt Service Coverage Ratio (DSCR) 2025: 2.40 | 2024: 2.22

DSCR indicates the company’s ability to service its debt with its operating income. An improvement in 2025 reflects stronger cash generation from operations, ensuring comfort in meeting interest and principal obligations.

Return on Equity (ROE) 2025: 21.79% | 2024: 14.47%

ROE measures how effectively the company uses shareholders ' equity to generate profits. A significant jump to 21.79% reflects higher profitability and better capital utilization, making it attractive to investors.

Inventory Turnover Ratio 2025: 3.37 | 2024: 3.50

This ratio measures how many times inventory is sold and replaced during the year. The slight decline indicates slower inventory movement, which might be due to holding more stock or a shift in product mix.

Trade Receivables Turnover Ratio 2025: 7.09 | 2024: 6.93

This ratio shows how efficiently the company collects receivables. An improvement in 2025 suggests better credit control or faster customer payments, which boosts liquidity.

Trade Payables Turnover Ratio 2025: 4.92 | 2024: 4.64

This measures how quickly the company pays its suppliers. The increase implies faster payment cycles, possibly due to better cash flow or early payment discounts, though it could also strain cash reserves.

Net Capital Turnover Ratio 2025: 18.78 | 2024: 15.26

This ratio assesses how efficiently working capital is used to generate revenue. The sharp rise in 2025 shows stronger operational efficiency, meaning the business is generating more sales per unit of working capital.

Net Profit Ratio 2025: 10.27% | 2024: 6.66%

Net profit ratio indicates what percentage of revenue turns into net profit. The significant increase reflects strong cost control, better pricing, or higher margin products, improving overall profitability.

Return on Capital Employed (ROCE) 2025: 20.32% | 2024: 16.49%

ROCE shows how effectively the company uses all available capital (equity + debt) to generate profits. The rise in 2025 signals better use of both equity and borrowed funds, pointing to efficient business operations and capital management.