Naraingarh Sugar Mills Limited Annual Report and Financials

Naraingarh Sugar Mills Limited Standalone Balance Sheet (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Non-Current Assets
Property, plant and equipment	13,277.85	14,197.15
Deferred tax assets (net)	6,426.69	5,694.37
Other non-current assets	685.09	505.59
Current Assets
Inventories	3,086.47	5,711.21
Trade receivables	8,323.38	8,638.51
Cash and cash equivalents	429.46	1282.65
Other financial assets	14.03	9.72
Other current assets	7,553.33	8,588.45
Total Assets	39,796.29	44627.66
Equity
Equity share capital	2,119.54	2,119.54
Other equity	-13,401.86	-11,468.23
Non-Current Liabilities
Borrowings	9,291.99	10,295.17
Other Financial Liabilities	138.17	147.55
Provisions	259.57	244.73
Other Non-Current Liabilities	7,197.15	7,197.15
Current Liabilities
Borrowings	1,003.48	903.12
Trade Payable
Total outstanding dues of micro and small enterprises	23.58	23.58
Other financial liabilities	24,435.5	20,900.83
Other current liabilities	3,804.47	4,023.95
Provisions	42.42	37.46
Total Equity and Liabilities	39,796.29	44,627.66

Naraingarh Sugar Mills Limited Standalone Profit & Loss Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Revenue from operations	22,914.61	21.571.76
Other Operating Revenues	3.01	599.26
Other income	0.88	39.92
Total Income	22,918.5	22210.93
Expenses
Cost of materials consumed	15,780.57	17,069.4
Changes in inventories of Finished goods and WIP	2666.09	-385.74
Employee benefits expense	870.84	859.05
Finance costs	3866.86	3362.77
Depreciation and amortization expense	924.13	995.03
Other expenses	1624.14	1818.72
Total Expenses	25732.63	23719.23
Loss before tax	-2814.13	-1508.29
Tax expense	-	-391.02
Deferred tax	-732.31	-
Loss after tax	-2,081.82	-1,117.28
Other Comprehensive income/(loss)
Items that will not be reclassified to statement of profit and loss:
Measurement of post employment benefit obligation	-27.31	13.39
Total Comprehensive Profit/(loss) for the year	-2,109.13	-1,103.89
Earning per equity share, Basic and diluted (Rs.)
10 paid-up	-10.95	-5.87
5 paid-up	-5.47	-2.94

Naraingarh Sugar Mills Limited Standalone Cash Flow Statement (Rs in lakhs)

Particulars	31-03-2024	31-03-2023
Cash Flow from Operating Activities
Loss before Tax	-2814.13	-1508.29
Depreciation and Amortisation	924.13	995.03
Interest Earned	0.0	-0.05
Interest Paid/Inc. (Net)	3866.83	3362.65
Adjustments (Other Comp. Income)	-27.31	13.39
Profit from Operating Activities before working capital changes	1949.52	2862.72
(Increase)/Decrease in Inventories	2624.74	-361.59
(Increase)/Decrease in Trade Receivables	315.14	294.86
(Increase)/Decrease in Other Non-Current Financial Liabilities	-9.38	44.22
Increase/(Decrease) in Non-Current Provisions	14.84	-23.45
(Increase)/Decrease in Other Current Assets	1035.12	-625.58
(Increase)/Decrease in Other Current Financial Assets	-4.31	-25.51
Increase/(Decrease) in Trade Payables	-5320.23	-732.68
Increase/(Decrease) in Other Current Financial Liabilities	-207.28	261.39
Increase/(Decrease) in Other Current Liabilities	-219.48	-11.74
Increase/(Decrease) in Current Provisions	4.96	12.93
Cash Generated from Operations	183.64	1695.58
Direct Taxes Paid	0.0	1.22
Net Cash from Operating Activities (I)	183.64	1696.8
Cash Flow from Investing Activities
Purchase of Tangible/Intangible Assets	-4.83	-9.27
(Increase)/Decrease in Other Non-Current Assets	-4.0	-5.0
(Increase)/Decrease in Fixed Deposits	0.0	3.12
Interest Received	0.0	0.05
Net Cash from Investing Activities (II)	-8.83	-11.1
Cash Flow from Financing Activities
Proceeds from Non-Current Borrowings (Net)	2738.47	2227.53
Increase in Current Borrowings (Net)	100.36	223.12
Interest & Other Finance Costs	-3866.83	-3362.65
Net Cash from Financing Activities (III)	-1028.0	-912.0
Net increase/(decrease) in cash and cash equivalents	-853.20	773.7
Cash and cash equivalents at the beginning of the year	1282.65	508.96
Cash and cash equivalents at the end of the year	429.46	1282.65

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

Cash Flow from Operating Activities

During FY 2023-24, the company reported a loss before tax of ₹2,814.13 lakhs compared to ₹1,508.29 lakhs in the previous year. After adjustments such as depreciation of ₹924.13 lakhs and finance costs of ₹3,866.83 lakhs, operating profit before working capital changes stood at ₹1,949.52 lakhs, lower than ₹2,862.72 lakhs in FY 2022-23. Significant working capital changes, including an increase in inventories by ₹2,624.74 lakhs and a rise in trade receivables of ₹315.14 lakhs, were offset by a sharp increase in trade payables of ₹5,320.23 lakhs. Consequently, net cash generated from operating activities was ₹183.64 lakhs, a sharp decline from ₹1,696.80 lakhs in the previous year.

Cash Flow from Investing Activities

The company spent ₹4.83 lakhs on purchase of tangible/intangible assets and ₹4.00 lakhs on non-current assets, leading to net cash outflow of ₹8.83 lakhs from investing activities, compared to an outflow of ₹11.10 lakhs in the prior year.

Cash Flow from Financing Activities

The company raised ₹2,738.47 lakhs through non-current borrowings (compared to ₹2,227.53 lakhs in FY 2022-23). However, high interest and finance costs of ₹3,866.83 lakhs led to a net cash outflow of ₹1,028.00 lakhs from financing activities, higher than the outflow of ₹912.00 lakhs in the previous year.

Net Cash Flow & Closing Balance

Overall, the company recorded a net decrease in cash and cash equivalents of ₹853.20 lakhs, against an increase of ₹773.70 lakhs in the prior year. Cash and cash equivalents at year-end stood at ₹429.46 lakhs, compared to ₹1,282.65 lakhs at the beginning of the year.