Rasoi Limited (Rasoi Limited) Return Comparision with Primex 40 Index

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

Rasoi Limited Consolidated Balance Sheet (Rs in '000)

Particulars	31-03-2025	31-03-2024
Non-Current Assets
Property, Plant & Equipment	1,46,227	1,51,170
Investment in Associate	56,02,613	49,26,082
Other Investments	2,95,328	2,73,024
Loans	1,20,200	1,13,200
Other Financial Assets	14,431	15,296
Other Non Current Assets	50,836	51,072
Current Assets
Inventories	30,927	25,939
Investments	5,51,246	2,52,495
Cash & Cash Equivalents	9,265	8,631
Bank Balances (other than above)	12	45
Loans	11,855	7,840
Other Financial Assets	39,239	3,72,498
Current Tax Assets (Net)	1,376	8,106
Other Current Assets	615	901
Total Assets	68,74,170	62,06,299
Equity
Equity Share Capital	19,320	19,320
Other Equity	68,35,600	61,70,271
Non-Current Liabilities
Provisions	2,377	2,180
Deferred Tax Liabilities (Net)	9,695	8,471
Current Liabilities
Trade payables
Outstanding dues of micro & small enterprises	449	157
Outstanding dues of creditors other than above	404	4,809
Other Financial Liabilities	12	45
Other Current Liabilities	5,469	203
Provisions	844	843
Total Equity & Liabilities	68,74,170	62,06,299

Rasoi Limited Consolidated Profit & Loss Statement (Rs in '000)

Particulars	31-03-2025	31-03-2024
Income
Revenue from Operations	1,67,752	1,85,472
Other Income	10,596	1,88,582
Total Revenue	1,78,348	3,74,054
Expenses
Cost of Material Consumed	57,731	63,033
Purchase of Stock-in-Trade	9,895	-
Changes in Inventories	-4,406	-4,678
Employee Benefits Expense	30,372	31,155
Finance Cost	-	368
Depreciation & Amortisation	8,787	10,982
Other Expenses	82,863	84,817
Total Expenses	1,85,242	1,85,677
Profit/(Loss) Before Tax	-6,894	1,88,377
Current Tax	6,602	62,214
Deferred Tax	3,012	-27,542
Excess provision w/back (earlier years)	-73	-331
Profit for the Year (before associates)	-16,435	1,54,036
Share of Profit of Associates	1,93,691	1,96,342
Profit for the Year	1,77,256	3,50,378
Other Comprehensive income
Items that will not be reclassified to profit or loss	5,20,416	1,33,174
Income tax relating to items that will not be reclassified to profit or loss	41,957	15,441
items that will be reclassified to profit or loss	19,284	-6,647
Income tax relating to items that will be reclassified to profit or loss	-5,365	385
Total Comprehensive Income	6,69,634	2,26,383
Earnings per share
Basic & Diluted	1,834.95	3,627.10

Rasoi Limited Consolidated Cash Flow Statement (Rs in '000)

Particulars	31-03-2025	31-03-2024
Cash Flow from Operating Activities
Profit Before Tax	-6,894	1,88,377
Non-cash adjustments to reconcile profit before tax to net cash flows
Depreciation	8,787	10,982
Net gain on fair valuation of investments	-1,120	19,509
Fair Value Adjustment - Actuarial Gain	-270	3
Loss/(Profit) on Sale of PPE	-9,387	-1,88,212
Finance Cost	-	368
Operating Profit before Working Capital Changes	-8,884	31,027
Increase/(Decrease) in Investments	-3,11,240	82,286
Increase/(Decrease) in Inventories	-4,988	-6,576
Increase/(Decrease) in Trade & other receivables	33,614	-11,102
Increase/(Decrease) in Trade & other payables	1,350	5,678
Cash Generated from Operations	-2,90,148	89,957
Direct Taxes Paid (net of refunds)	-4,775	-64,812
Net Cash Flow from Operating Activities	-2,94,923	25,145
Cash Flow from Investing Activities
Purchase of Property, Plant & Equipment	-4,057	-23,343
Proceeds from Sale of PPE	9,599	1,93,670
Fixed Deposits	2,90,016	-1,92,000
Net Cash Flow from Investing Activities	2,95,558	-21,673
Cash Flow from Financing Activities
Interest Paid	-	-368
Dividend Paid on Equity Shares	-34	-40
Net Cash Flow from Financing Activities	-34	-408
Net Increase/(Decrease) in Cash	601	3,064
Cash & Cash Equivalents at Beginning of Year	8,676	5,612
Cash & Cash Equivalents at End of Year	9,277	8,676

Summary of cash flow statement for the year 2025 and 2024:

Cash Flow from Operating Activities:
The company reported a negative operating cash flow of ₹2,94,923 (‘000) in 2025 compared to a positive ₹25,145 (‘000) in 2024. This sharp decline is mainly driven by a loss before tax (₹-6,894) versus strong profits in the previous year. Additionally, a significant outflow due to increased investments (₹-3,11,240) heavily impacted operating cash. Although there was some improvement from receivables (cash inflow), it was insufficient to offset the large outflows. Overall, this indicates weak core business cash generation in 2025. Adjustments such as depreciation (₹8,787) provided a non-cash add-back, but gains like profit on sale of PPE (₹-9,387) and fair valuation gains reduced operating cash. Compared to 2024, where adjustments were more balanced, 2025 reflects fewer supportive non-cash inflows. These adjustments contributed to lowering the operating profit before working capital changes to a negative figure.

Working Capital Changes:
The working capital movement shows mixed trends. Trade receivables decreased (₹33,614 inflow), which is positive as it indicates better collections. However, inventories increased (₹-4,988), implying funds tied up in stock. Trade payables increased slightly (₹1,350), offering minor support. The most notable factor is the large increase in investments, which significantly drained cash. Overall, working capital changes had a net negative impact on liquidity.

Cash Flow from Investing Activities:
Investing activities generated a strong positive cash flow of ₹2,95,558 in 2025 compared to a negative ₹21,673 in 2024. This was mainly due to proceeds from fixed deposits (₹2,90,016) and sale of PPE (₹9,599). The company reduced its investments and liquidated assets to generate cash. While this improved short-term liquidity, it may indicate asset monetization rather than operational strength.

Cash Flow from Financing Activities:
Financing cash flow remained minimal, with a small outflow of ₹34 in 2025 (₹408 in 2024). There was no interest payment in 2025, consistent with the company’s low debt levels. Dividend payments were also negligible. This reflects a stable but inactive financing structure with minimal dependence on external funding.

Net Change in Cash Position:
Despite negative operating cash flow, the company recorded a slight net increase in cash of ₹601 in 2025 (compared to ₹3,064 in 2024), primarily due to strong inflows from investing activities. This indicates that liquidity was maintained through asset liquidation rather than core operations.

Key Financial Ratios of Rasoi Limited

Particulars	31-03-2025	31-03-2024
Current ratio	89.79	111.69
Debt equity ratio	0.01	0.01
Debt service coverage ratio	-	576.42
Return on equity ratio	-0.24%	9.18%
Inventory turnover ratio	4.37	5.41
Trade payables turnover ratio	58.48	18.69
Net capital turnover ratio	0.28	0.30
Net profit ratio	-2.29%	84.11%
Return on capital employed	0.31%	11.61%
Return on investment	-0.24%	9.18%

Summary of financial ratios for the year 2025 and 2024:

Current Ratio:
The current ratio declined from 111.69 in 2024 to 89.79 in 2025, though it still remains extremely high. This indicates that the company continues to have a very strong liquidity position, with current assets far exceeding current liabilities. However, such an unusually high ratio may also suggest inefficient utilization of short-term assets or excess idle resources.

Debt-Equity Ratio:
The debt-equity ratio remained constant at 0.01 in both years, reflecting a very low reliance on external debt. This indicates a conservative capital structure with minimal financial risk, but it may also imply that the company is not leveraging debt to enhance returns.

Debt Service Coverage Ratio:
The DSCR was extremely high at 576.42 in 2024, indicating excellent ability to service debt obligations. However, it is not reported in 2025, likely due to negligible or no debt obligations during the year, consistent with the low debt-equity ratio.

Return on Equity:
ROE declined sharply from a positive 9.18% in 2024 to -0.24% in 2025. This indicates that shareholders experienced a loss in value during 2025, reflecting poor profitability compared to the previous year.

Inventory Turnover Ratio:
The inventory turnover ratio decreased from 5.41 to 4.37, suggesting slower movement of inventory. This may indicate reduced sales efficiency or overstocking, which could tie up working capital.

Trade Payables Turnover Ratio:
This ratio increased significantly from 18.69 to 58.48, indicating that the company is paying its suppliers much faster than before. While this improves supplier relationships, it may also reduce the benefit of credit terms and impact cash flow.

Net Capital Turnover Ratio:
The net capital turnover ratio slightly declined from 0.30 to 0.28, suggesting marginally lower efficiency in utilizing capital to generate revenue.

Net Profit Ratio:
The net profit ratio dropped drastically from a very high 84.11% in 2024 to -2.29% in 2025. This indicates a shift from strong profitability to losses, which is a major concern and suggests significant operational or financial challenges.

Return on Capital Employed:
ROCE decreased sharply from 11.61% to 0.31%, indicating that the company’s efficiency in generating profits from its capital base has significantly weakened.

Return on Investment:
ROI followed a similar trend to ROE, declining from 9.18% to -0.24%. This reflects poor returns on invested funds in 2025 and aligns with the overall decline in profitability.