Merit Credit Corporation Ltd Annual Report | Revenue

Merit Credit Corporation Limited (MERIT) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Merit Credit Corporation Limited

Merit Credit Corporation Limited Balance Sheet (Rs In Lakhs)

Particulars	2021	2020
ASSETS:
(1) Financial assets
(a) Cash and cash equivalents	5.3	11.53
(b) Bank balance other than (a) above	1	1
(c ) Loans	4,808.93	4,620.36
(d) Investments	167.95	86.33
(e) Other financial Assets	813.76	5.31
Sub Total - Financial Assets	5796.94	4724.53
(2) Non Financial Asset
(a) Property Plant and Equipments	39.12	48.29
(b) Other Non Financial Assets	225.18	296.38
Sub Total - Non Financial Assets	264.3	344.67
TOTAL ASSETS	6061.24	5069.2
LIABILITIES AND EQUITY:
LIABILITIES
(1) Financial Liabilities
(a) Payables
(i) Other Payables
Total outstanding dues of creditors other than above	0.71	0.32
(b) Borrowings	4257.79	3125.18
Sub Total-Financial Liabilities	4258.5	3125.5
(2) Non Financial Liabilities
(a) Deferred tax liabilities (Net)	16.34	79.48
(b) Provisions	516.56	10.6
(c) Other Non financial Liabilities	6.47	41.75
Sub Total-Non Financial Liabilities:	539.37	131.83
(3) EQUITY
(a) Equity share capital	600	600
(b) Other Equity	663.37	1,211.87
	1263.37	1811.87
TOTAL LIABILITIES AND EQUITY	6061.24	5069.2

Merit Credit Corporation Limited Profit & Loss Statement (Rs In Lakhs)

Particulars	2021	2020
Revenue From Operations
Interest Income	612	539.2
Dividend Income	0.33	4.14
Net gain on fair value changes	228.2	62.92
Total Revenue from operations	840.53	606.26
Other Income	1.56	14.67
Total Income	842.09	620.93
Expenses
Finance Costs	668.45	572.34
Employee benefit expenses	21.82	22.24
Depreciation , amortization and impairment	9.18	9.56
Others expenses	141.01	26.17
Total Expenses (IV)	840.46	630.31
Profit / (loss) before exceptional items and tax	1.63	-9.38
Exceptional items	613.36
Profit/(loss) before tax	-611.73	-9.38
(A) Tax Expense	-0.1	-
(B) Deferred Tax	-63.14	33.12
Profit/(loss) for the period	-548.49	-42.51
Total Comprehensive Income	-548.49	-42.51
Earnings per equity share
Basic (Rs.)	-9.14	-0.71
Diluted (Rs.)	-9.14	-0.71

Merit Credit Corporation Limited Consolidated Cash Flow Statement (Rs In Lakhs)

Particulars	2021	2020
A. CASH FLOW FROM OPERATING ACTIVITIES:
Net Profit/(Loss) Before Tax	-611.65	-9.38
Add :Non operating and non cash items debited in P&L
Depreciation and Amortization expense	9.18	9.56
Provision for Standard Assets	2.29	5.76
Exceptional Item	613.36	787.59
Operating Profit Before Working Capital Changes	13.18	793.52
(Increase) / Decrease in Current Assets
Changes in Other Current Assets	-808.44	-0.24
Changes in Short term Loan & Advances	-175.23	-2197.11
Change in Non financial Asset	71.2	-0.1
Increase / (Decrease) in Current Liabilities
Changes in Short term Borrowings	1109.3
Changes in other Non financial Liabilities	-11.97	30.73
Changes in Provisions	504.06
Cash Generated From Operations	702.09	-1373.2
Exceptional Items	-613.36
Direct Taxes Paid	-13.33
NET CASH INFLOW / (OUTFLOW) FROM OPERATING ACTIVITIES (A)	75.4	-1373.2
B. CASH FLOW FROM INVESTING ACTIVITIES:
Purchase of Investments	-81.62	1.86
NET CASH INFLOW / (OUTFLOW ) FROM INVESTING ACTIVITIES (B)	-81.62	1.86
C. CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from Secured and Unsecured Loans		1935.59
Interest Expense		-572.35
NET CASH INFLOW / (OUTFLOW ) FROM FINANCING ACTIVITIES (C)	-	1363.24
Net Increase / (Decrease) in Cash and Cash Equivalents (A+B+C)	-6.23	-8.09
Add : Cash and Cash Equivalents as at 1st April, 2020	12.53	20.62
Cash and Cash Equivalents as at 31st March, 2021	6.3	12.53
Cash and Bank Balances	6.3	12.53

Certainly, here is a summary of the Cash Flow Statement for the years 2021 and 2020:

1. Net Profit/(Loss) Before Tax:

In 2021, there was a significant loss of Rs -611.65 compared to a smaller loss of Rs -9.38 in 2020.

2. Non-operating and Non-cash items debited in P&L:

This section includes various non-operating and non-cash items, such as depreciation and amortization expenses, provision for standard assets, and exceptional items. Notably, there was an exceptional item of Rs 613.36 in 2021 and Rs 787.59 in 2020.

3. Operating Profit Before Working Capital Changes:

The operating profit before working capital changes indicates the profit generated from core business operations before considering changes in working capital. In 2021, it was Rs 13.18, while in 2020, it stood at Rs 793.52.

4. Changes in Current Assets and Liabilities:

The next section accounts for changes in current assets and liabilities.

Changes in other current assets were -808.44 in 2021 and -0.24 in 2020.

Changes in short-term loans and advances were -175.23 in 2021 and -2197.11 in 2020.

Change in non-financial assets was 71.2 in 2021 and -0.1 in 2020.

Changes in short-term borrowings were 1109.3 in 2021.

Changes in other non-financial liabilities were -11.97 in 2021 and 30.73 in 2020.

Changes in provisions were 504.06 in 2021.

5. Cash Generated from Operations:

The cash generated from operations is the sum of the operating profit and the adjustments for changes in working capital. In 2021, it was Rs 702.09, while in 2020, it was -1373.19, indicating a significant improvement.

6. Exceptional Items and Direct Taxes Paid:

Exceptional items were -613.36 in 2021, and no exceptional items were reported in 2020. Direct taxes paid were -13.33 in 2021.

7. Net Cash Inflow/(Outflow) from Operating Activities (A):

The net cash inflow/(outflow) from operating activities was Rs 75.4 in 2021 and -1373.19 in 2020.

8. Cash Flow from Investing Activities (B):

The cash flow from investing activities includes the purchase of investments, which was -81.62 in 2021 and 1.86 in 2020.

9. Cash Flow from Financing Activities (C):

The cash flow from financing activities accounts for proceeds from secured and unsecured loans, which were 1935.59 in 2021. Interest expenses were -572.35.

10. Net Increase/(Decrease) in Cash and Cash Equivalents (A+B+C):

The net increase/(decrease) in cash and cash equivalents was -6.23 in 2021 and -8.09 in 2020.

11. Cash and Cash Equivalents as at 1st April and 31st March:

The cash and cash equivalents as at 1st April, 2020, were 12.53, and as at 31st March, 2021, it decreased to 6.3.

12. Cash and Bank Balances:

The final section mentions the cash and bank balances, which were 6.3 in 2021 and 12.53 in 2020.

Merit Credit Annual Report

Merit Credit Annual Report 2020-21

Download

Merit Credit Corporation Limited Annual Report and Financials

Merit Credit Corporation Limited (MERIT) Return Comparision with Primex 40 Index

Merit Credit Corporation Limited Balance Sheet (Rs In Lakhs)

Merit Credit Corporation Limited Profit & Loss Statement (Rs In Lakhs)

Merit Credit Corporation Limited Consolidated Cash Flow Statement (Rs In Lakhs)

Merit Credit Annual Report

Merit Credit Annual Report 2020-21

Most Searched Unlisted & Pre IPO Companies Stocks in India

HDB Financial

NSE India

BIRA

Capgemini

Hero Fincorp

Nayara Energy

OTIS Elevator

Sterlite Power

Care Health

PharmEasy

Philips India

Hexaware

Vikram Solar

Reliance GIC

OYO Rooms

BOAT

Tata Capital

SBI AMC

Swiggy Limited

Waree Energies

Rapido

Incred Holdings

News Alert