| Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
|---|---|---|---|---|---|---|---|
| Primex-40 | |||||||
| Rathi Industries Limited |
|
Particulars |
31-03-2025 |
31-03-2024 |
|
Non-current
assets |
|
|
|
Plant,
property and equipment |
164.13 |
140.46 |
|
Capital
work in progress |
0.75 |
- |
|
Investment
property |
46.50 |
48.87 |
|
Other
non-current assets |
3.58 |
0.50 |
|
Current
assets |
|
|
|
Inventories
|
68.32 |
49.53 |
|
Trade
receivables |
79.31 |
69.72 |
|
Cash
and cash equivalent |
0.21 |
0.07 |
|
Bank
balance other than above |
0.53 |
0.07 |
|
Current
tax assets |
0.96 |
0.78 |
|
Other
current assets |
33.94 |
19.45 |
|
Total
assets |
398.23 |
329.45 |
|
Equity |
|
|
|
Equity
share capital |
10.02 |
5.46 |
|
Other
equity |
268.45 |
230.63 |
|
Non-Current
liabilities |
|
|
|
Borrowings
|
27.19 |
0.74 |
|
Provisions
|
0.22 |
0.24 |
|
Deferred
tax liability |
4.43 |
5.92 |
|
Other
non current liabilities |
12.14 |
4.07 |
|
Current
liabilities |
|
|
|
Borrowings
|
26.36 |
43.76 |
|
Trade
payables |
35.03 |
16.76 |
|
Other
current liabilities |
12.91 |
20.10 |
|
Provisions
|
1.48 |
0.77 |
|
Total
equity and liabilities |
398.23 |
329.45 |
|
Particulars |
31-03-2025 |
31-03-2024 |
|
Income |
|
|
|
Revenue
from Operations |
891.77 |
697.06 |
|
Other
Income |
0.65 |
1.25 |
|
Total
Income |
892.42 |
698.31 |
|
Expenses |
|
|
|
Cost of
raw material consumed |
411.14 |
97.62 |
|
Purchase
of stock in trade |
421.60 |
572.12 |
|
Changes
in inventories |
9.45 |
6.02 |
|
Employee
benefits expense |
4.40 |
1.62 |
|
Finance
costs |
5.21 |
5.79 |
|
Depreciation
& amortization expense |
5.76 |
1.43 |
|
Other
Expenses |
25.92 |
9.53 |
|
Total
Expenses |
883.57 |
694.13 |
|
Profit/(loss)
before tax |
8.85 |
4.18 |
|
Current
tax |
1.48 |
0.76 |
|
Deferred
Tax |
0.76 |
0.69 |
|
Profit/
Loss for the period |
8.13 |
2.73 |
|
Earning
per share |
|
|
|
Basic |
5.98 |
5.98 |
|
Diluted
|
0.00 |
5.98 |
|
Particulars |
31-03-2025 |
31-03-2024 |
|
Cash
Flow from Operating Activities |
|
|
|
Net
Profit/(loss) Before Tax |
8.13 |
2.73 |
|
Adjustment
for -: |
|
|
|
Depreciation
|
5.77 |
1.43 |
|
Financial charges |
5.21 |
5.79 |
|
(profit)/loss
on sale of vehicle |
-0.17 |
-0.01 |
|
Adjustment
for change in working capital |
-48.12 |
-10.77 |
|
Financial
charges |
-5.21 |
-5.79 |
|
Cashflow
generated from operations |
-34.40 |
-6.62 |
|
Direct
taxes paid |
0.76 |
4.16 |
|
Net
Cash from/(used in) Operating Activities |
-33.64 |
-2.64 |
|
Cash
Flow from Investing Activities |
|
|
|
(purchase)/sale
of fixed assets |
-21.61 |
-28.83 |
|
Funds inflow
from non current assets |
-3.08 |
1.34 |
|
(purchase)/sale
of investment |
2.37 |
-45.39 |
|
Other
inflow/(outflow) of cash |
- |
84.52 |
|
Net
Cash from / (used in) Investing Activities |
-22.32 |
11.64 |
|
Cash
Flow from Financing Activities |
|
|
|
Proceeds
from non current liabilities |
6.56 |
-3.47 |
|
Proceeds
from long term borrowings |
25.91 |
-9.52 |
|
Proceeds
from other equity shares premium |
24.10 |
3.42 |
|
Proceeds
from equity |
3.56 |
- |
|
Net
Cash from/(used in) Financing Activities |
56.57 |
-9.57 |
|
Net
Increase/decrease in Cash & cash equivalents |
0.61 |
-0.39 |
|
Cash
and cash equivalents at the beginning of the year |
0.13 |
0.52 |
|
Cash
and cash equivalents at the end of the year |
0.74 |
0.13 |
Summary
of the Cash Flow Statement for the years 2025 and 2024:
Cash Flow from
Operating Activities
The company reported
a Net Profit before tax of ₹8.13 Cr in 2025,
significantly higher than ₹2.73 Cr in 2024,
indicating improved profitability. However, after adjusting for non-cash items
like depreciation (₹5.77 Cr) and finance costs (₹5.21
Cr), the major concern arises from a substantial negative
change in working capital of ₹48.12 Cr, which
suggests heavy cash blockage in receivables, inventory, or other current
assets. As a result, the cash flow generated from operations stood negative at ₹-34.40
Cr, compared to ₹-6.62 Cr in the
previous year. After paying direct taxes of ₹0.76 Cr,
the net cash used in operating activities was ₹-33.64 Cr,
showing that despite accounting profits, the company is facing serious cash
outflow issues in its core operations.
Cash Flow from
Investing Activities
The company
continued to invest heavily in fixed assets with an outflow of ₹21.61
Cr, slightly lower than last year’s ₹28.83 Cr,
indicating ongoing expansion or capacity building. Additionally, there was a
net outflow from non-current assets of ₹3.08 Cr. However,
the company generated some inflow from sale of investments amounting to ₹2.37
Cr, unlike the heavy investment made in the previous year (₹-45.39
Cr). In 2024, there was a significant inflow of ₹84.52
Cr under other activities, which is absent this year, leading
to an overall net cash outflow of ₹-22.32 Cr in 2025
compared to an inflow of ₹11.64 Cr in 2024.
This indicates that the company is currently in an investment phase with
consistent capital expenditure.
Cash Flow from
Financing Activities
The financing side
shows strong positive support, with total inflows of ₹56.57 Cr
in 2025 compared to an outflow of ₹-9.57 Cr in 2024.
The company raised funds through long-term borrowings (₹25.91 Cr),
non-current liabilities (₹6.56 Cr), and
equity-related inflows including share premium (₹24.10 Cr)
and equity capital (₹3.56 Cr). This
indicates that the company is relying heavily on external funding—both debt and
equity—to finance its operations and investments, which could increase
financial risk if not managed properly.
Overall Cash
Position
Despite negative operating and investing cash flows, the strong financing inflows helped the company maintain a positive net increase in cash of ₹0.61 Cr in 2025, compared to a decline of ₹-0.39 Cr in 2024. The closing cash balance improved to ₹0.74 Cr from ₹0.13 Cr. However, the overall situation suggests that the company’s liquidity is being sustained mainly through external funding rather than internal cash generation, which may not be sustainable in the long run if operational efficiency is not improved.
|
Particulars |
31-03-2025 |
31-03-2024 |
|
Current ratio |
4.95 |
1.97 |
|
Debt to equity |
0.23 |
0.87 |
|
Debt to service coverage ratio |
2.85 |
3.03 |
|
Return on equity |
0.18 |
0.59 |
|
Inventory turnover ratio |
- |
0.23 |
|
Trade
receivables turnover ratio |
9.58 |
10.52 |
|
Trade
payables turnover ratio |
45.25 |
50.18 |
|
Net capital turnover ratio |
9.94 |
20.02 |
|
Net profit ratio |
1.21 |
0.67 |
|
Return
on capital employed |
2.34 |
3.76 |
Summary
of the Financial Ratios for the years 2025 and 2024:
Current Ratio
The current ratio increased significantly from 1.97 in 2024 to 4.95 in 2025,
indicating a strong improvement in short-term liquidity. The company now has a
much higher level of current assets relative to current liabilities, suggesting
better ability to meet its short-term obligations. However, an excessively high
ratio may also point to inefficient use of working capital.
Debt to Equity Ratio
The debt to equity ratio declined sharply from 0.87 to 0.23, reflecting a
substantial reduction in financial leverage. This indicates that the company is
relying less on borrowed funds and more on equity financing, reducing financial
risk and improving long-term solvency.
Debt Service Coverage Ratio
The DSCR slightly decreased from 3.03 in 2024 to 2.85 in 2025. Although still
at a comfortable level (above 2), the decline suggests a marginal reduction in
the company’s ability to service its debt obligations from operating income.
Return on Equity
ROE dropped significantly from 0.59 to 0.18, indicating a decline in
profitability for shareholders. This suggests that the company generated lower
returns on the equity invested, possibly due to reduced earnings or increased
equity base.
Inventory Turnover Ratio
The inventory turnover ratio is not available for 2025, while it stood at 0.23
in 2024, which was already quite low. This indicates slow movement of
inventory, suggesting possible inefficiencies in inventory management or weak
demand.
Trade Receivables Turnover
Ratio
The ratio declined from 10.52 to 9.58, indicating a slight slowdown in the
collection of receivables. While still relatively strong, the decrease suggests
that the company is taking longer to collect payments from customers.
Trade Payables Turnover
Ratio
The trade payables turnover ratio decreased from 50.18 to 45.25, indicating
that the company is taking slightly longer to pay its suppliers. This could
improve short-term liquidity but may affect supplier relationships if extended
further.
Net Capital Turnover Ratio
This ratio dropped sharply from 20.02 to 9.94, indicating reduced efficiency in
utilizing working capital to generate revenue. The decline suggests that the
company’s sales generation relative to its net capital has weakened.
Net Profit Ratio
The net profit ratio improved from 0.67 to 1.21, showing better profitability
in terms of net income relative to sales. This indicates improved cost control
or higher margins during the year.
Return on Capital Employed
ROCE decreased from 3.76 to 2.34, reflecting reduced efficiency in generating
profits from the capital employed. This decline suggests that overall
operational performance and capital utilization have weakened compared to the previous
year
