Midland Rubber And Produce Annual Report and Financials

Midland Rubber and Produce Co Ltd Balance Sheet (In Rs. Crore)

Midland Rubber and Produce Co Ltd Profit & Loss Statement (In Rs. Crore)

Midland Rubber and Produce Cash Flow Statement for the last three years (In Rs. Crore)

Summary of Midland Rubber and Produce Co Ltd Cash Flow Statement:

1. Cash Flow from Operating Activities:

   - Net cash from operating activities was -Rs. 31.82 crore in the year ending March 31, 2022, -Rs. 0.92 crore in the year ending March 31, 2021, and Rs. 29.18 crore in the year ending March 31, 2020.

   - Net profit before tax and extraordinary items was Rs. 9.95 crore in the year ending March 31, 2022, Rs. 9.62 crore in the year ending March 31, 2021, and Rs. 119.81 crore in the year ending March 31, 2020.

   - Adjustments for depreciation, interest, dividend received, and other items were made.

   - Cash generated from operations before working capital changes was Rs. 6.03 crore in the year ending March 31, 2022, Rs. 5.14 crore in the year ending March 31, 2021, and Rs. 29.21 crore in the year ending March 31, 2020.

   - Working capital changes, including trade and other receivables, inventories, trade payables, and other items, contributed to the cash flow from operating activities.

2. Cash Flow from Investing Activities:

   - Net cash used in investing activities was Rs. 45.83 crore in the year ending March 31, 2022, -Rs. 3.14 crore in the year ending March 31, 2021, and Rs. 24.37 crore in the year ending March 31, 2020.

   - Activities include the purchase of fixed assets, sale of fixed assets, purchase and sale of investments, interest received, dividend received, and other items.

3. Cash Flow from Financing Activities:

   - Net cash used in financing activities was -Rs. 2.93 crore in the year ending March 31, 2022, -Rs. 1.95 crore in the year ending March 31, 2021, and -Rs. 47.51 crore in the year ending March 31, 2020.

   - Activities include dividend paid and interest paid.

4. Net Increase/ (Decrease) in Cash and Cash Equivalent:

   - The net increase/(decrease) in cash and cash equivalents was Rs. 11.09 crore in the year ending March 31, 2022, -Rs. 6.01 crore in the year ending March 31, 2021, and Rs. 6.04 crore in the year ending March 31, 2020.

   - Cash and cash equivalents at the end of the year were Rs. 11.28 crore in the year ending March 31, 2022, Rs. 0.19 crore in the year ending March 31, 2021, and Rs. 6.23 crore in the year ending March 31, 2020.

Funds Flow Statement of Midland Rubber and Produce Co Ltd (In Rs. Crore)

Midland Rubber and Produce Key Financial Ratios

Summary of Key Financial Ratios of Midland Rubber and Produce Co Ltd:

1. Current Ratio:

The current ratio measures the company 's ability to meet its short-term obligations. Midland Rubber and Produce Co Ltd has shown an improvement in the current ratio over the three years, indicating a strengthening liquidity position. In 2022, the ratio stands at 2.64, up from 1.34 in 2021 and 1.29 in 2020.

2. Turnover Ratios:

- Fixed Assets Turnover Ratio: The fixed assets turnover ratio indicates how efficiently the company generates revenue from its fixed assets. Midland Rubber and Produce Co Ltd has shown a declining trend in this ratio over the three years, indicating a potential underutilization or reduced demand for its fixed assets. In 2022, the ratio is 1.69, down from 2.23 in 2021 and 1.91 in 2020.

- Inventory Turnover Ratio: The inventory turnover ratio reflects how efficiently the company manages its inventory. Midland Rubber and Produce Co Ltd has maintained a stable inventory turnover ratio, indicating effective inventory management. In 2022, the ratio is 11.1, compared to 13.26 in 2021 and 11.14 in 2020.

- Debtors Turnover Ratio: The debtors turnover ratio reflects the efficiency of the company in collecting cash from debtors. Midland Rubber and Produce Co Ltd has shown a declining trend in this ratio over the three years, which may suggest changes in its credit management or collection efficiency. In 2022, the ratio is 24.54, down from 26.25 in 2021 and 31.19 in 2020.

- Total Asset Turnover Ratio: The total asset turnover ratio measures the company 's ability to generate revenue from its total assets. Midland Rubber and Produce Co Ltd has shown a decrease in this ratio, indicating a potential decline in revenue generation relative to its asset base. In 2022, the ratio is 0.16, compared to 0.21 in 2021 and 0.19 in 2020.

3. Interest Cover Ratio:

The interest cover ratio evaluates the company 's ability to cover its interest expenses with its operating profit. Midland Rubber and Produce Co Ltd has a high-interest cover ratio, indicating that the company is generating substantial operating profit to cover its interest costs. In 2022, the ratio is 143.99, compared to 482 in 2021 and 454.63 in 2020.

4. Profitability Ratios:

The profitability ratios for Midland Rubber and Produce Co Ltd indicate mixed results.

- PBIDTM (%): The PBIDTM (Profit before Interest, Depreciation, and Tax Margin) has shown a decrease from 18.1% in 2021 to 12.95% in 2022, but it was higher than 21.73% in 2020.

- PBITM (%): The PBITM (Profit before Interest and Tax Margin) has also shown a decrease from 15.45% in 2021 to 8.54% in 2022, but it was higher than 44.16% in 2020.

- PBDTM (%): The PBDTM (Profit before Depreciation and Tax Margin) has decreased from 18.07% in 2021 to 12.89% in 2022, but it was higher than 47.12% in 2020.

5. Return Ratios:

Both the Return on Capital Employed (ROCE) and the Return on Net Worth (RONW) have shown a decrease over the three years.

- ROCE (%): The ROCE has decreased from 3.31% in 2021 to 1.34% in 2022, and it was lower than 8.18% in 2020.

- RONW (%): The RONW has also decreased from 2.52% in 2021 to 0.97% in 2022, and it was lower than 6.98% in 2020.

6. Payout (%):

The payout ratio measures the portion of earnings distributed to shareholders as dividends. Midland Rubber and Produce Co Ltd has shown fluctuations in the payout ratio. In 2022, the ratio is 40.39%, up from 26.57% in 2021, but it was lower than 43% in 2020.

Overall, the financial ratios of Midland Rubber and Produce Co Ltd indicate various trends in liquidity, efficiency, profitability, and shareholder returns.

Midland Rubber and Produce Dividend History