MIL Industries Annual Reports, Balance Sheet and Financials

MIL Industries Limited Balance Sheet (Rs in Lakhs)

MIL Industries Limited Profit & Loss Statement (Rs in Lakhs)

MIL Industries Limited Consolidated Cash Flow Statement (Rs in Lakhs)

Here is a summary of the Cash Flow Statement for the years 2024 and 2023:

Cash Flow from Operating Activities: The net cash generated from operating activities increased significantly to ₹698.34 lakhs in 2024 from ₹393.27 lakhs in 2023. This improvement is driven by a rise in profit before tax from ₹384.55 lakhs to ₹739.89 lakhs. The operating profit before working capital changes increased from ₹441.32 lakhs to ₹760.84 lakhs, indicating stronger operational performance. Adjustments for changes in working capital, including reductions in trade receivables and inventories, also contributed positively. The decrease in income tax paid further supported the higher net cash flow from operations.

Cash Flow from Investing Activities: The cash flow from investing activities showed a minor outflow of ₹0.72 lakhs in 2024, a significant improvement from the outflow of ₹55.76 lakhs in 2023. The reduced cash outflow is attributed to a decrease in the purchase of property, plant, and equipment, alongside a positive adjustment in interest income. Additionally, the absence of investments in subsidiary companies, which occurred in the previous year, helped reduce cash used in investing activities.

Cash Flow from Financing Activities: The net cash used in financing activities increased to ₹181.33 lakhs in 2024 from ₹11.81 lakhs in 2023. This change is mainly due to the repayment of non-current borrowings and a slight increase in dividend payments. The cash outflow for interest expenses was also lower compared to the previous year.

Net Increase in Cash and Cash Equivalents: The company experienced a substantial increase in cash and cash equivalents of ₹516.28 lakhs in 2024, compared to ₹325.70 lakhs in 2023. This positive change resulted in closing cash and cash equivalents rising to ₹1,996.11 lakhs from ₹1,479.83 lakhs. The significant increase in cash reserves reflects improved cash flow from operations and more efficient cash management, despite the outflows from investing and financing activities.

 Financial Ratios of MIL Industries Limited

Here is a summary of the financial and operational metrics for MIL Industries Limited for the year 2024 and 2023:

Current Ratio: The current ratio increased to 6.32% in 2024 from 3.81% in 2023. This significant rise indicates a substantial improvement in the company 's liquidity position, suggesting it is now much better positioned to cover short-term liabilities with its short-term assets.

Debtors Turnover Ratio: The debtors turnover ratio decreased to 58.77 in 2024 from 69.1 in 2023. This decline indicates that the company’s receivables are turning over more slowly, meaning it takes longer to collect payments from customers. This could suggest either longer credit terms or slower payment by customers.

Inventory Turnover Ratio: The inventory turnover ratio decreased to 100.48 in 2024 from 123.18 in 2023. This reduction suggests that inventory is turning over more slowly, which might indicate slower sales or an increase in inventory levels relative to sales.

Interest Coverage Ratio: The interest coverage ratio improved significantly to 135.77 in 2024 from 52.32 in 2023. This substantial increase reflects a much stronger ability to cover interest expenses with operating income, indicating improved financial stability and reduced risk of default.

Debt-Equity Ratio: The debt-equity ratio decreased to 15.72% in 2024 from 28.91% in 2023. This reduction demonstrates a lower reliance on debt financing relative to equity, which enhances the company’s financial stability and reduces financial risk.

Operating Profit Margin: The operating profit margin increased to 19.45% in 2024 from 10.96% in 2023. This improvement indicates a higher proportion of revenue is being converted into operating profit, reflecting better cost control and increased operational efficiency.

Net Profit Margin: The net profit margin also improved significantly to 13.88% in 2024 from 7.21% in 2023. This increase indicates that the company is more effective at converting revenue into net income, showing enhanced profitability.

Return on Net Worth (Return on Equity): The return on net worth increased to 24.43% in 2024 from 15.42% in 2023. This substantial improvement indicates that the company is generating significantly higher returns on shareholders ' equity, reflecting effective management and strong profitability.