Milton Cycle Industries Unlisted Share Price

Milton Cycles Industries Limited Standalone Balance Sheet (Rs In Thousands)

Milton Cycles Industries Limited Standalone Cash Flow Statement (Rs InThousands)

Summary of the Cash Flow Statement for the years 2024 and 2023:
Cash Flow from Operating Activities

During FY 2023–24, the company generated a strong positive operating cash flow of ₹60,621 thousand, a significant turnaround compared to a negative operating cash flow of ₹83,031 thousand in FY 2022–23. Although profit before tax declined sharply to ₹458 thousand from ₹17,280 thousand, operating cash flow improved mainly due to favourable working capital movements. The reduction in inventories, recovery in trade receivables, and a substantial increase in other current liabilities contributed positively. These were partly offset by a large decrease in trade payables. Overall, despite lower profitability, the company demonstrated improved cash efficiency from core operations in FY 2023–24.

Cash Flow from Investing Activities

Cash flow from investing activities remained positive at ₹20,908 thousand in FY 2023–24, though significantly lower than ₹69,065 thousand in FY 2022–23. The inflow during the current year was primarily driven by sale of fixed assets amounting to ₹17,442 thousand, along with interest income and miscellaneous income. This was partially offset by purchase of fixed assets and investment in mutual funds. In the previous year, higher cash inflows were mainly due to substantial profit on sale of fixed assets. The decline indicates lower asset monetisation in FY 2023–24, though investing activities continued to support liquidity.

Cash Flow from Financing Activities

Financing activities resulted in a net cash outflow of ₹250 thousand in FY 2023–24, broadly in line with the ₹314 thousand outflow in FY 2022–23. The outflow was due to repayment of long-term loans and payment of finance costs. There were no fresh borrowings during the year, indicating a conservative capital structure with limited reliance on external financing.

Net Increase in Cash & Cash Equivalents

As a result of positive cash flows from operating and investing activities, the company recorded a net increase in cash and cash equivalents of ₹81,278 thousand in FY 2023–24, compared to a decline of ₹14,279 thousand in FY 2022–23. Consequently, cash and cash equivalents rose sharply from ₹1,238 thousand at the beginning of the year to ₹82,517 thousand at year-end. This substantial improvement reflects enhanced liquidity and stronger short-term financial stability.

Financial ratios of Milton Cycles Industries Limited (As on 31-03-2024)

Summary of the financial and operational metrics for the year 2024 and 2023:

Return on Equity Ratio

The return on equity ratio improved from -2.44 in 2023 to 0.05 in 2024, indicating that the company has moved from a loss position to a marginal profit position. Although the ratio has turned positive, the return generated for shareholders is still extremely low, showing that the company is not yet earning a satisfactory return on equity.

Inventory Turnover Ratio

The inventory turnover ratio was not reported for 2024, while it stood at 0.54 in 2023. This suggests that either the company did not hold inventory during 2024 or inventory data was not available. A low turnover in 2023 indicated slow-moving stock and weak inventory management.

Trade Receivables Turnover Ratio

The trade receivables turnover ratio improved from 0.05 in 2023 to 0.38 in 2024, showing better collection efficiency. However, the ratio remains low, indicating that receivables are still being collected slowly, which may affect the company’s liquidity.

Trade Payables Turnover Ratio

The trade payables turnover ratio declined from 0.03 in 2023 to 0.00 in 2024, indicating that the company is taking a longer time to pay its suppliers. While this may help conserve cash in the short term, it could strain supplier relationships.

Net Capital Turnover Ratio

The net capital turnover ratio increased from 0.31 in 2023 to 0.79 in 2024, reflecting improved utilization of working capital to generate sales. However, the ratio is still relatively low, suggesting that capital is not being used very efficiently.

Net Profit Ratio

The net profit ratio declined sharply from 1.38 in 2023 to 0.002 in 2024, indicating a significant fall in profitability. Although the company remained marginally profitable, the sharp decline suggests rising costs or lower operating efficiency.

Return on Capital Employed

The return on capital employed dropped from 4.11 in 2023 to 0.109 in 2024, indicating a substantial decline in the company’s ability to generate returns from its capital base. This reflects weak operational performance and inefficient use of resources.