Polymatech Electronics Limited (Polymatech) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Polymatech Electronics Limited

Polymatech Electronics Limited Consolidated Balance Sheet (Rs in Lakhs)

Particulars	31-03-2025
Non-current Assets
Property, Plant and Equipment	40,754.23
Capital Work in Progress	20,187.56
Goodwill	565.51
Intangible Assets	1.17
Investments	677.58
Other Financial Assets	448.45
Other Non-Current Assets	412.29
Current Assets
Inventories	73,157.66
Investments	266.91
Trade Receivables	1,25,216.38
Cash and Cash Equivalents	39,226.55
Other Bank Balances	2.50
Loans	428.49
Other	104.27
Other Current Assets	6,696.83
Total Assets	3,08,146.38
Equity
Equity Share Capital	7,968.78
Other Equity	1,07,812.50
Non-Controlling interest	1,431.46
Non-current Liabilities
Borrowings	5,341.76
Lease Liabilities	76.21
Deferred Tax Liabilities (net)	2,983.65
Current Liabilities
Borrowings	20.51
Lease Liabilities	262.32
Trade Payables - Others	69,589.84
Other Current Liabilities	1,04,259.67
Provisions	3,157.84
Current Tax Liabilities (Net)	5,241.84
Total Equity and Liabilities	3,08,146.38

Polymatech Electronics Limited Consolidated Profit & Loss Statement (Rs in Lakhs)

Particulars	31-03-2025
Income
Revenue From Operations	1,90,289.71
Other Income	923.42
Total Income	1,91,213.13
Expenses
Cost of Materials Consumed	1,59,324.96
Changes in Inventories	-33,989.68
Employee Benefit Expenses	1,892.45
Finance Cost	26.33
Depreciation and Amortisation Expense	5,150.48
Other Expenses	14,354.85
Total Expenses	1,46,759.39
Profit Before Tax	44,453.75
Tax Expense	6,952.59
Profit after tax before share ofprofit from associate	37,501.16
Share of Profit/Loss from Associate	57.48
Profit After Tax	37,558.64
Attributable to Owners of the company	36,136.63
Attributable to Non-controlling interest	1,422.01
Other Comprehensive Income
Items that will not be reclassified to P&L
Change in Fair Value of FVOCI Equity Instruments	238.00
Income Tax on Above	-65.68
Foreign Currency Translation Reserve	245.52
Total Other Comprehensive Income	417.84
Total Comprehensive Income	37,976.48
Attributable to Owners of the company	36,539.67
Attributable to Non-controlling interest	1,436.81
Earnings Per Share
Basic	9.07
Diluted	9.07

Polymatech Electronics Limited Consolidated Cash Flow Statement (Rs in Lakhs)

Particulars	31-03-2025
Cash Flow from Operating Activities
Net Profit After Tax Before Share of Associates	37,501.16
Adjustments for:
Tax Expenses	6,952.59
Depreciation	5,150.48
Interest Income	-1.13
Finance Costs	26.33
Other Comprehensive Income	417.84
Operating Profit before Working Capital Changes	50,047.27
(Increase)/Decrease in Inventories	64,214.50
(Increase)/Decrease in Trade Receivables	-73,239.89
(Increase)/Decrease in Other Current Assets	13,177.47
Increase/(Decrease) in Trade Payables	-68,128.39
Increase/(Decrease) in Short-term Provisions	3,131.84
Increase/(Decrease) in Other Current Liabilities	56,037.75
Operating Profit after Working Capital Changes	45,240.55
Less: Income Tax Paid	-1,315.94
Net Cash Flow from Operating Activities	43,924.61
Cash Flow from Investing Activities
Investments in Property, Plant and Equipment	-21,315.83
Sale/(Investment) in Mutual Funds (Net)	13,610.12
Investment in Associates	-620.10
Acquisition of Subsidiary (Net of Cash Acquired)	-1,030.10
Increase/Decrease in other non-current assets	-412.29
Share Application Money for Acquisition	-448.45
Interest Income	1.13
Net Cash Flow from Investing Activities	-10,215.52
Cash Flow from Financing Activities
Increase/(Decrease) in Borrowings (Net)	3,339.03
Interest and Finance Charges	-26.33
Net Cash Flow from Financing Activities	3,312.70
Net Increase/(Decrease) in Cash and Cash Equivalents	37,021.79
Cash and Cash Equivalents at Beginning of Year	2,207.26
Cash and Cash Equivalents at End of Year	39,229.05

Summary of the Cash Flow Statement for the years 2025:

Cash Flow from Operating Activities

The company generated a strong inflow of cash from its core business operations. Starting with a net profit after tax of ₹37,501.16 lakhs, several non-cash items were added back—such as depreciation, finance costs, tax expenses, and other comprehensive income—which increased the operating profit before working capital changes to ₹50,047.27 lakhs. However, significant movements in working capital influenced the final operating cash flow. Inventories decreased substantially, releasing ₹64,214.50 lakhs of cash, and other current assets also reduced, contributing another ₹13,177.47 lakhs. These positive effects were partially offset by a steep rise in trade receivables (₹73,239.89 lakhs) and a fall in trade payables (₹68,128.39 lakhs), both of which absorbed cash. Ultimately, after accounting for tax payments, the business generated ₹43,924.61 lakhs of net cash from operating activities, reflecting healthy operational performance despite heavy working capital fluctuations.

Cash Flow from Investing Activities

The company witnessed a net outflow from investing activities, primarily due to capital expenditure and strategic investments. A significant amount—₹21,315.83 lakhs—was spent on property, plant, and equipment, demonstrating continued investment in long-term assets. Additional cash outflows occurred due to investments in associates, acquisition of a subsidiary, and share application money for future acquisition commitments. Despite these, the company received a sizeable inflow of ₹13,610.12 lakhs from the net sale of mutual funds. Overall, investing activities resulted in a net cash outflow of ₹10,215.52 lakhs, indicating an investment-focused year with long-term growth initiatives.

Cash Flow from Financing Activities

Financing activities contributed positively during the year. The company raised net borrowings of ₹3,339.03 lakhs, providing additional liquidity, while interest and finance charges of ₹26.33 lakhs were paid out. The net effect was a cash inflow of ₹3,312.70 lakhs from financing activities. This suggests that the company used external financing only to a limited extent, maintaining a relatively conservative funding structure.

Net Change in Cash and Closing Position

Combining operating, investing, and financing cash flows, the company recorded a substantial net increase of ₹37,021.79 lakhs in cash and cash equivalents during the year. Starting with an opening cash balance of ₹2,207.26 lakhs, the company closed the year with ₹39,229.05 lakhs in cash and cash equivalents.

Financial Ratios of Polymatech Electronics Limited

Particulars	31-03-2025	31-03-2024
Current ratio	1.45:1	1.51:1
Debt-Equity ratio	0.93:1	1.04:1
Debt Service coverage ratio	-	12.93
Return on equity ratio	1.20	3.17
Inventory turnover ratio	1.08	4.62
Net capital turnover ratio	2.13	3.07
Net profit ratio	0.19	22.12%
Return on capital employed	0.14	32.02%

Summary of the financial ratios of Polymatech Electronics Limited for the year 2025 and 2024:

Current Ratio

The current ratio has decreased from 1.51:1 in 2024 to 1.45:1 in 2025. This indicates that the company’s short-term liquidity position has weakened slightly. Although the ratio is still above 1, showing that current assets continue to exceed current liabilities, the reduction reflects a marginal decline in the company’s ability to cover its short-term obligations compared to the previous year.

Debt-Equity Ratio

The debt-equity ratio has reduced from 1.04:1 in 2024 to 0.93:1 in 2025. This reflects an improvement in the company’s solvency structure, as the proportion of debt relative to equity has come down. A lower ratio indicates a comparatively stronger equity base supporting the company’s obligations than in the previous year.

Debt Service Coverage Ratio (DSCR)

The DSCR for 2025 is not reported, whereas it stood at 12.93 in 2024. The ratio in 2024 indicated strong coverage of debt servicing requirements from operating profits. The absence of the ratio in 2025 simply means it is not available for the period and therefore no comparative movement can be interpreted.

Return on Equity (ROE)

ROE has declined from 3.17% in 2024 to 1.20% in 2025. This shows that the company earned a lower return on shareholders’ funds in 2025 compared to the previous year. The decrease indicates a reduction in profitability relative to the equity employed.

Inventory Turnover Ratio

The inventory turnover ratio has fallen significantly from 4.62 times in 2024 to 1.08 times in 2025. This reflects a substantial slowdown in the rate at which inventory is being utilized or sold. A lower turnover indicates that inventory remained on hand for a longer period in 2025 compared to 2024.

Net Capital Turnover Ratio

The net capital turnover ratio decreased from 3.07 times in 2024 to 2.13 times in 2025. This indicates that the efficiency with which the company uses its working capital to generate revenue has declined. The lower turnover means that for every unit of net capital employed, fewer units of revenue were generated compared to the previous year.

Net Profit Ratio

The net profit ratio dropped sharply from 22.12% in 2024 to 0.19% in 2025. This denotes a significant reduction in profitability. The company earned far less profit per unit of revenue in 2025 compared to 2024, showing a major decline in overall margin performance.

Return on Capital Employed (ROCE)

ROCE has decreased dramatically from 32.02% in 2024 to 0.14% in 2025. This indicates a substantial reduction in the efficiency with which the company generated returns from its total capital employed. The sharp fall shows that capital produced far lower returns in 2025 compared to the previous year.