Maverick Simulation Solutions Annual Reports, Balance Sheet & Financials

Maverick Simulation Solutions Limited Standalone Balance Sheet (Rs in Lakhs)

Particulars	31-03-2025	31-03-2024
Assets
Non-current assets
Property, plant and equipment	553.80	47.44
Other financial assets	202.26	197.46
Deferred tax assets (net)	-	638.49
Current assets
Inventories	1,444.34	3,815.54
Trade receivables	10,538.90	513.42
Cash and cash equivalents	724.12	357.03
Other bank balances	117.21	106.65
Loans	1,137.18	510.68
Other financial assets	178.55	36.72
Other current assets	1,448.40	2,493.73
Total Assets	16,344.76	8,717.16
Equity
Equity share capital	475.73	475.73
Instruments entirely equity in nature	15.66	-
Other equity	9,208.77	2,080.72
Non-Current Liabilities
Borrowings	1,101.36	-
Provisions	5.63	-
Deferred tax liabilities (net)	0.14	-
Current Liabilities
Borrowings	1,201.89	784.96
Trade payables
Total outstanding dues of micro and small     enterprises	478.65	41.72
Total outstanding dues of creditors other than micro and small enterprises	1,297.47	2,649.41
Other financial liabilities	717.44	158.25
Other current liabilities	1,083.34	1,866.18
Provisions	0.98	-
Current tax liabilities (net)	757.70	660.19
Total Equities & Liabilities	16,344.76	8,717.16

Maverick Simulations Solutions Limited Standalone Profit & Loss Statement (Rs in Lakhs)

Particulars	31-03-2025	31-03-2024
Income
Revenue from Operations	13,630.81	1,422.23
Other Income	255.55	22.68
Total Income	13,886.36	1,444.91
Expenses
Cost of material consumed	3,382.15	4,747.30
Purchase of stock in trade	266.77	78.66
Changes in inventories of finished goods and work in progress	2,372.59	-3,815.54
Employee benefits expense	356.38	113.30
Finance cost	283.96	14.75
Depreciation expense	3.03	2.39
Other expenses	1,090.61	177.57
Total Expenses	7,755.49	1,318.43
Profit Before Tax	6,130.87	126.49
Current Tax	710.00	670.44
Deferred Tax (net)	638.78	-638.49
Profit for the period	4,782.09	94.54
Other Comprehensive Income
Items that wills not be reclassified to profit or loss
Remeasurements of net defined benefit liability/(asset)	-0.86	-
Income tax relating to items that will not be reclassified to profit or loss	0.15	-
Other comprehensive income for the year (net of tax)	-0.71	-
Total comprehensive income for the year	4,781.38	94.54
Earnings per equity share
Basic	97.32	3.95
Diluted	97.32	3.95

Maverick Simulations Solutions Limited Standalone Cash Flow Statement (Rs in Lakhs)

Particulars	31-03-2025	31-03-2024
Cash Flow from Operating Activities
Profit before tax	6,130.87	126.49
Adjustments for:
Depreciation expense	3.03	2.39
Finance costs	283.97	14.75
Loss/(gain) on disposal of property, plant and equipment (net)	-4.62	-
Liabilities no longer required written back	-185.66	-
Interest Income	-18.17	-0.02
Operating profit before working capital changes	6,209.42	143.61
Working capital adjustments:
(Increase)/ decrease in inventories	2,371.20	-3,815.53
(Increase)/ decrease in trade receivables	-10,025.47	-513.43
Increase/(decrease) in trade payables	-729.36	2,691.13
(Increase)/ decrease in other current & non-current financial assets	-140.83	-65.57
(Increase)/ decrease in other current and non – current assets	1,045.33	-2,493.73
Increase/ (decrease) in other current financial liabilities	559.19	158.25
Increase/ (decrease) in other current liabilities	-782.84	1,866.19
Increase/ (decrease) in provisions	5.75	-
Cash Flows from operating activities	-1,487.61	-2,029.08
Income taxes paid	-612.49	-10.25
Net Cash flows from (used in) operating activities	-2,100.10	-2,039.33
Cash Flow from Investing Activities
Payment for acquisition of property, plant and equipment, right of use assets and intangible assets	-547.46	-49.83
Proceeds from sale of property, plant and equipment	42.69	-
Loans given	-626.50	-510.68
Investment made in fixed deposits	-16.36	-274.27
Interest received	18.17	0.02
Net cash flows from/(used in) investing activities	-1,129.46	-834.76
Cash Flow from Financing Activities
Proceeds from issue of compulsorily convertible preference shares	2,362.33	-
Issue of equity shares during the year	-	2,460.91
Proceeds from long term borrowings	1,100.00	-
Movement in short term borrowings (net)	408.54	784.96
Finance cost paid	-274.22	-14.75
Net cash flows from/(used in) financing activities	3,596.65	3,231.12
Net (decrease)/increase in cash and cash equivalents during the year	367.09	357.03
Cash and cash equivalents at the beginning of the year	357.03	-
Cash and cash equivalents at the end of the year	724.12	357.03

Summary of the Cash Flow Statement for the years 2025 and 2024:

Operating Activities:
Profit Before Tax increased significantly to ₹6,130.87 lakhs in FY25 from ₹126.49 lakhs in FY24, showing strong improvement in profitability. However, net cash used in operating activities amounted to ₹(2,100.10) lakhs compared to ₹(2,039.33) lakhs in FY24. The negative cash flow was mainly due to a sharp increase in trade receivables of ₹10,025.47 lakhs, indicating higher credit sales and delayed collections. Although inventories decreased by ₹2,371.20 lakhs, working capital pressures continued to impact operating liquidity.

Investing Activities:
Net cash used in investing activities increased to ₹(1,129.46) lakhs in FY25 from ₹(834.76) lakhs in FY24. The outflow was primarily towards capital expenditure of ₹547.46 lakhs and loans given of ₹626.50 lakhs, reflecting expansion efforts and investment in long-term assets to strengthen operational capacity.

Financing Activities:
Financing activities generated positive cash flows of ₹3,596.65 lakhs in FY25 compared to ₹3,231.12 lakhs in FY24. The inflows were mainly from compulsorily convertible preference shares (₹2,362.33 lakhs), long-term borrowings (₹1,100.00 lakhs), and short-term borrowings, indicating dependence on external funding to support growth and operational requirements.

Net Change in Cash and Cash Equivalents:
Despite negative operating and investing cash flows, strong financing inflows resulted in a net increase in cash and cash equivalents of ₹367.09 lakhs during FY25, similar to ₹357.03 lakhs in FY24. Consequently, the closing cash balance increased to ₹724.12 lakhs from ₹357.03 lakhs, ensuring adequate liquidity at year-end.

Financial ratios of Maverick Simulations Solutions Limited

Particulars	31-03-2025	31-03-2024
Current ratio	2.82	1.27
Debt equity ratio	0.24	0.31
Debt service coverage ratio	3.38	0.11
Return on equity ratio	0.78	0.07
Inventory turnover ratio	2.29	0.53
Trade receivables turnover ratio	2.47	5.54
Trade payables turnover ratio	1.51	3.53
Net capital turnover ratio	2.33	1.70
Net profit ratio	0.35	0.07
Return on capital employed	0.53	0.04

Summary of the Financial Ratios for the years 2025 and 2024:

Current Ratio

The current ratio improved significantly from 1.27 in FY24 to 2.82 in FY25. This indicates a substantial strengthening of the company’s short-term liquidity position. In FY24, the ratio was just slightly above 1, suggesting tight working capital management. However, in FY25, the company has built a comfortable liquidity cushion, meaning it now has ₹2.82 of current assets for every ₹1 of current liabilities. This improvement enhances the company’s ability to meet short-term obligations without financial stress.

 

Debt-Equity Ratio

The debt-equity ratio declined from 0.31 in FY24 to 0.24 in FY25, reflecting a reduction in leverage. This indicates that the company is relying less on borrowed funds and strengthening its capital structure. Lower financial leverage reduces financial risk and interest burden, improving long-term solvency. The ratio suggests a conservative capital structure, which is positive from a creditor and investor perspective.

 

Debt Service Coverage Ratio

The DSCR increased sharply from 0.11 in FY24 to 3.38 in FY25. A ratio below 1 in FY24 indicated serious difficulty in servicing debt obligations from operating earnings. However, the strong recovery in FY25 shows that the company now generates sufficient operating profits to comfortably meet its interest and principal repayments. This improvement signals a major turnaround in operational performance and financial stability.

 

Return on Equity

ROE surged from 7% in FY24 to 78% in FY25. This dramatic improvement indicates that shareholders’ funds were utilized far more efficiently in FY25. The company has significantly enhanced profitability relative to equity invested. Such a sharp rise may be driven by higher net profits, improved margins, or efficient capital utilization. This is a strong positive indicator for equity investors.

 

Inventory Turnover Ratio

The inventory turnover ratio improved from 0.53 times in FY24 to 2.29 times in FY25. In FY24, the company had slow-moving inventory, indicating possible overstocking or weak sales. The improvement in FY25 suggests better inventory management and stronger sales performance. Faster inventory movement reduces holding costs and improves working capital efficiency.

 

Trade Receivables Turnover Ratio

The receivables turnover ratio declined from 5.54 times in FY24 to 2.47 times in FY25. This indicates that the company is collecting receivables more slowly compared to the previous year. A lower ratio may imply extended credit terms to customers or weaker collection efficiency. This trend requires monitoring, as slower collections can impact cash flows despite improved profitability.

 

Trade Payables Turnover Ratio

The payables turnover ratio decreased from 3.53 times in FY24 to 1.51 times in FY25. This suggests that the company is taking a longer time to pay its suppliers. While extended payment periods can improve short-term liquidity, excessively low turnover may strain supplier relationships. However, in the context of improved liquidity and profitability, this may reflect better working capital negotiation.

 

Net Capital Turnover Ratio

The net capital turnover ratio improved from 1.70 in FY24 to 2.33 in FY25. This indicates that the company is generating higher revenue per unit of working capital employed. Improved working capital efficiency suggests better utilization of short-term resources to drive sales growth.

 

Net Profit Ratio

The net profit ratio increased significantly from 7% in FY24 to 35% in FY25. This shows a major expansion in profit margins. The company has either improved pricing power, reduced costs, enhanced operational efficiency, or benefited from economies of scale. This strong margin expansion is a key driver behind improvements in ROE and DSCR.

 

Return on Capital Employed

ROCE improved sharply from 4% in FY24 to 53% in FY25, indicating significantly better utilization of total capital (both debt and equity). This reflects enhanced operational efficiency and profitability. A ROCE of 53% is a strong performance indicator and suggests that the company is generating substantial returns from its capital base.