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Rangpur Tea Association Annual Reports, Balance Sheet and Financials

Last Traded Price 300.00 + 1.69 %

Rangpur Tea Association Ltd (Rangpur Tea) Return Comparision with Primex 40 Index

Periods 1 Week 1 Month 3 Months 6 Months 1 Year 3 Years All Time
Primex-40
Rangpur Tea Association Ltd

Balance Sheet of Rangpur Tea Limited (Rs in Hundred)

Particulars 31-03-2023  31-03-2022 
EQUITY AND LIABILITIES    
Shareholder 's Funds    
Share Capital 2,48,155.00 2,48,155.00
Reserves and Surplus 11,65,091.17 11,23,282.80
Non-Current Liabilities    
Long Term Borrowings 2,90,863.43 1,58,888.76
Deferred Tax Liabilities (Net)   3,139.40
Current Liabilities    
Short-Term Borrowings 10,78,056.12 6,67,77.49
Trade Payables 1,15,331.41 1,64,270.25
Other Current Liabilities 5,99,439.29 6,32,491.30
Total of Equity and Liabilities 35,05,938.42 32,03,705.05
ASSETS    
Non-current assets    
Property, Plant and Equipment and Intangible Assets 11,04,981.87 11,99,380.04
Capital Work in Progress 3,876.11  
Long Term Loans and Advances 21,072.78 13,467.77
Deferred Tax Assets (Net) 20,240.62  
Current assets    
Current Investments 74,400.00 22,900.00
Inventories 3,92,634.60 4,90,716.32
Trade Receivables 1,21,612.25 1,02,113.66
Cash and Cash Equivalents 3,82,520.63 3,42,090.00
Short Term Loans and Advances 12,12,451.76 9,51,767.50
Other Current Assets 91,947.35 61,391.90
Total of Assets 35,05,938.42 32,03,705.05

Profit and Loss Statement of Rangpur Tea Limited (Rs in Hundred)

Particulars 31-03-2023 31-03-2022 
Total Income    
Revenue from Operation 33,06,173.99 35,16,564.30
Other Income 6,323.68 20,242.69
Total Income 39,14,497.64 35,38,806.69
Total Expenses    
Cost of materials consumed 6,04,211.58 12,22,906.71
Purchase of Stock in Trade 67,539.59 1,19,814.99
Changes in Inventories of Finished goods 13,14,352.00 12,94,291.00
Employee Benefit Expenses 1,04,776.85 67,992.24
Finance Cost 1,60,289.82 1,93,693.00
Depreciation and amortisation expense 8,46,998.18 7,90,281.71
Other expenses 33,00,000.49 34,09,350.00
Profit before Exceptional and Extraordinary Items 8,428.15 1,29,456.80
Exceptional Items 6,428.15 1,29,456.60
Profit before Extraordinary Items and Tax 6,428.15 1,29,456.60
Extraordinary Items    
Profit before Tax 6,428.15 1,29,456.60
Tax Expense (23,360.22) (633.19)
Profit/(Loss) for the Period 31,808.37 1,30,089.99
Earnings per Equity Share 1.28 5.24

Financial Ratios of Rangpur Tea Limited

Particulars 2023 2022
Current Ratio 3.3 2.5
Debt – Equity Ratio 0.98 0.74
Debt Service Coverage Ratio 1.3 2.88
Return on Equity Ratio 0.02 0.09
Inventory Turnover Ratio 1.97 2.09
Trade Receivables Turnover Ratio 29.57 39.71
Trade Payables Turnover Ratio 5.75 7.43
Net Capital Turnover Ratio 2.33 3.12
Net Profit Ratio 0.90% 3.70%
Return on Capital Employed 0.04 0.08

Insights for 2023

Liquidity Position (Current Ratio)
The current ratio for 2023 stands at 3.3, indicating that the company has sufficient current assets to cover its short-term liabilities. This is an improvement from 2022, where the current ratio was 2.5. A ratio above 1 generally suggests strong liquidity, and a higher ratio is favorable as it implies the company is in a better position to meet its short-term obligations.

Leverage and Debt Management (Debt-Equity Ratio)
The debt-equity ratio in 2023 is 0.98, an increase from 0.74 in 2022. While the ratio remains under 1, indicating that the company is still not overly reliant on debt for financing, the increase suggests that the company has taken on more debt in 2023 compared to the previous year. This may indicate an effort to finance growth or expansion, but it should be monitored for any potential risk associated with increased leverage.

Debt Repayment Ability (Debt Service Coverage Ratio)
The debt service coverage ratio has dropped from 2.88 in 2022 to 1.3 in 2023. A ratio above 1 means the company can meet its debt obligations, but the decline suggests a decrease in the company 's ability to cover its debt servicing costs from its operating income. A ratio closer to 1 indicates that the company is relying more heavily on its income to meet debt obligations, which could be a point of concern if the trend continues.

Profitability (Return on Equity and Net Profit Ratio)
The return on equity (ROE) ratio has decreased significantly from 0.09 (9%) in 2022 to 0.02 (2%) in 2023. This decline shows that the company is generating less profit for its shareholders in 2023 compared to the previous year, signaling a reduction in profitability. Similarly, the net profit ratio has fallen from 3.7% in 2022 to 0.9% in 2023, suggesting that the company’s overall profitability has declined, even though it is still making a profit.

Efficiency in Operations (Inventory, Receivables, and Payables Turnover)
The inventory turnover ratio has slightly decreased from 2.09 in 2022 to 1.97 in 2023, which could indicate that the company is holding inventory for a longer period before it is sold. A lower ratio might reflect slower-moving goods, which could result in higher holding costs or potential inventory obsolescence.
The trade receivables turnover ratio has decreased significantly from 39.71 in 2022 to 29.57 in 2023, suggesting that the company is taking longer to collect payments from its customers, which could impact cash flow.
The trade payables turnover ratio has decreased from 7.43 in 2022 to 5.75 in 2023, indicating that the company is taking longer to pay its suppliers, possibly to manage its cash flow better.

Capital Efficiency (Net Capital Turnover and Return on Capital Employed)
The net capital turnover ratio has decreased from 3.12 in 2022 to 2.33 in 2023. This decline suggests that the company is using its capital less efficiently in generating revenue. A lower ratio can indicate inefficiency in utilizing capital to generate sales.
Similarly, the return on capital employed has decreased from 0.08 (8%) in 2022 to 0.04 (4%) in 2023, indicating a lower return generated from the capital invested in the business.

 

Rangpur Tea Annual Report

Rangpur Tea Association Ltd 2022-23

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