Rakan Steels Limited Annual Report and Financials

Particulars

2023

2022

ASSETS

Non-Current Assets

Property, Plant and Equipment

2,29,86,809

1,42,58,341

Capital Work-in-Progress

-

-

Financial Assets

Investments

-

-

Loan

-

-

Other Financial Assets

-

-

Deferred Tax Assets (Net)

1,35,192

1,62,996

Other Non-Current Assets

4,73,667

4,73,667

Current Assets

Inventories

7,02,36,473

7,32,84,935

Financial Assets

Investments

-

-

Trade Receivables

3,26,19,566

3,30,42,143

Cash and Cash Equivalents

24,91,427

32,02,958

Bank Balances other than Cash and Cash equivalents

-

-

Loans

-

-

Other Financial Assets

-

-

Current Tax Assets (Net)

7,51,055

50,000

Other Current Assets

12,70,097

24,99,480

TOTAL ASSETS

13,09,64,286

12,69,74,520

EQUITY AND LIABILITIES

Equity

Equity Share Capital

3,24,00,000

3,24,00,000

Other Equity

1,58,51,435

1,50,95,719

4,82,51,435

4,74,95,719

Liabilities

Non-Current Liabilities

Financial Liabilities

Borrowings

6,00,02,914

5,96,13,721

Other Financial Liabilities

-

-

6,00,02,914

5,96,13,721

Provisions

-

-

Deferred Tax Liabilities (Net)

-

-

Other Non-Current Liabilities

-

-

Current Liabilities

Financial Liabilities

Borrowings

-

-

Trade Payables-Total Outstanding Dues of

29,56,790

85,75,889

- Micro and Small Enterprises

6,80,117

8,96,824

- Creditors other than Micro and Small Enterprises

22,76,673

76,79,065

Other Financial Liabilities

30,00,000

24,00,000

59,56,790

1,09,75,889

Other Current Liabilities

1,65,03,147

86,54,191

Provisions

2,50,000

2,35,000

Current Tax Liabilities (Net)

-

-

TOTAL EQUITY AND LIABILITIES

13,09,64,286

12,69,74,520

Particulars

2023

2022

INCOME

Revenue from Operations

31,64,31,925

33,77,62,945

Other Income

3,13,029

4,64,022

Total Income (I)

31,67,44,954

33,82,26,967

EXPENSES

Cost of Materials Consumed

18,90,33,260

11,32,75,647

Purchase of Stock-in-Trade

10,09,22,707

20,27,77,622

Changes in Inventories of Finished Goods, Work-in-Pro

43,27,635

16,84,512

Employees Benefits Expenses

19,99,268

21,10,055

Finance Costs

56,30,350

62,67,973

Depreciation and Amortisation Expenses

8,01,322

10,45,606

Other Expenses

1,29,11,076

1,01,21,433

Total Expenses (II)

31,56,25,618

33,72,82,848

Profit Before Exceptional Item and Tax

11,19,336

9,44,119

Exceptional Item

-

-

Profit Before Tax

11,19,336

9,44,119

Tax Expenses

Current Tax

2,50,000

2,35,000

Tax Relating To Prior Period

85,816

-

Deferred Tax

27,804

-7,232

Total Tax Expense

3,63,620

2,27,768

Profit for the Year (III)

7,55,716

7,16,351

OTHER COMPREHENSIVE INCOME

Items that will not be considered to profit or loss

-

-

Items that will be considered to profit or loss

Exchange differences on translating foreign operations

-

-

Less: Tax Effect on above

-

-

Other Comprehensive Income for the Year (IV)

-

-

Total Comprehensive Income for the Year (III+IV)

7,55,716

7,16,351

Earnings per Equity Share (Face Value Rs. 1 each)

Basic (Rs.)

0.02

0.02

Diluted (Rs.)

0.02

0.02

Particulars

2023

2022

Cash Flow from Operating Activities

Profit for the Year before tax & extraordinary items

1119336

944119

Adjustment for:

Depreciation

801322

1045606

Interest & Financial Charges

5630350

6267973

6431672

7313579

Operating Profit before Working Capital changes

7551008

8257698

Adjustments for:

(Increase)/Decrease in Loans and Advances

0

0

(Increase)/Decrease in Trade Recievables

422577

4266311

(Increase)/Decrease in Inventory

3048462

-4411303

(Increase)/Decrease in Current Assets

528328

2516463

Increase/(Decrease) in current Liabilities

2829857

10541315

Less:-Direct Taxes Paid (Net)

-335816

-235000

Net Cash from Operating Activities

14044416

20935484

Cash Flow from Investing Activities

Purchase of fixed asset

-9529790

-9540018

Purchase of investment

0

0

(Increase)/Decrease in Non Current Assets

0

0

Increase/(Decrease) in Non Current Liabilities

15000

-140000

Net Cash from Investing Activities

-9514790

-9680018

Cash Flow from Financing Activities

(Payment)/ Receipt of Long Term Borrowing

389193

-5957266

Interest and Financial Charges

-5630350

-6267973

Net Cash from Financing Activities

-5241157

-12225239

NET CASH FLOWS DURING THE YEAR(A+B+C)

-711531

-969773

Cash and Cash Equivalents(Opening Balance)

3202958

4172731

Cash and Cash Equivalents(Closing Balance)

2491427

3202958