Remi Sales and Engineering Annual Reports, Balance Sheet and Financials

Remi Sales and Engineering Limited Standalone Balance Sheet (Rs in Lakhs) 

Particulars	31-03-2024	31-03-2023
Assets
Property, Plant and Equipment	225.28	240.22
Other Intangible Assets	5.24	3.09
Investment in Property	722.89	808.52
Investments (Non-Current)	3,852.30	2,850.90
Other Financial Assets (Non-Current)	119.59	100.49
Inventories	1,640.35	1,124.91
Investments (Current)	1,441.82	1,564.89
Trade Receivable	2,691.51	2,600.14
Cash and Cash Equivalents	218.68	172.32
Loans	292.83	0.00
Other Financial Assets (Current)	34.54	185.89
Other Current Assets	273.00	851.85
Current Tax Assets (Net)	142.25	125.20
Total Assets	11,660.28	10,628.42
Equity and Liabilities
Equity Share Capital	57.02	57.02
Other Equity	7,709.52	6,600.90
Other Non-Current Liabilities	267.95	253.01
Deferred Tax Liabilities (Net)	107.01	52.35
Trade Payable	962.95	969.29
Payable to Micro and Small Enterprises	1,941.48	2,048.01
Payable to Other than Micro and Small Enterprises	567.87	640.84
Other Financial Liabilities	46.48	7.00
Total Equity and Liabilities	11,660.28	10,628.42

 

Remi Sales and Engineering Limited Standalone Profit & Loss Statement (Rs in Lakhs) 

Particulars	31-03-2024	31-03-2023
Revenue
Revenue from Operations	16,085.62	15,910.10
Other Income	518.52	258.92
Total Income	16,604.14	16,169.02
Expenses
Purchases	12,917.60	12,471.67
Changes in Inventories	(515.44)	(161.90)
Employee Benefit Expenses	1,593.18	1,540.06
Other Expenses	1,331.53	1,289.21
Depreciation and Amortization of Expenses	48.19	55.59
Finance Costs	1.61	2.65
Total Expenses	15,376.67	15,197.28
Profit Before Tax (Total Income - Total Expenses)	1,227.47	971.74
Tax Expense
Provision for Current Taxation	300.01	254.00
Provision for Deferred Tax (Credit)	20.05	(5.09)
(Excess)/Short Provision of Taxation of Earlier Years W/Back	12.29	—
Profit for the Period (Profit Before Tax - Tax Expense)	895.12	722.83
Other Comprehensive Income/ (Loss) (Net of Tax)	213.50	70.44
Total Comprehensive Income	1,108.62	793.27
Earnings per Equity Share (Nominal Value of Rs. 10)
Basic and Diluted	156.98	126.77

 

Remi Sales and Engineering Limited Standalone Cash Flow Statement (Rs in Lakhs) 

Particulars	31-03-2024	31-03-2023
CASH FLOW FROM OPERATING ACTIVITIES
Net Profit Before Tax	1,227.48	971.74
Depreciation	48.19	55.59
Finance Cost	1.61	2.65
Capital (Gain) / Loss	0.79	(20.40)
Profit on Sale of Investments in Property	(27.02)	—
Profit on Sale of Fixed Assets	(0.24)	—
Increase in Fair Value of Current Investments	(94.18)	(2.08)
Dividend Income	(39.83)	(41.14)
Interest Received	(209.48)	(173.18)
Other Income	(140.05)	(22.12)
Operating Profit Before Working Capital Changes	767.29	771.06
Trade and Other Receivables	309.85	92.34
Inventories	(515.44)	(41.55)
Trade Payable and Provisions	(131.41)	(365.70)
Net Operating Profit	430.28	456.15
Direct Tax Paid	(312.30)	(254.00)
Extraordinary Items	248.11	86.00
Net Cash Flow from Operating Activities	366.09	288.14
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of Fixed Assets	(52.52)	(9.40)
Sale of Fixed Assets	129.98	—
Sale of Investments	2,970.97	2,066.79
Purchase of Investments	(3,755.92)	(3,005.94)
Dividend Income	39.83	41.14
Interest Received	209.48	173.18
Other Income	140.05	22.12
Net Cash Flow from Investing Activities	(318.12)	(712.11)
CASH FLOW FROM FINANCING ACTIVITIES
Interest Paid	(1.61)	(2.65)
Repayment of Short-Term Loans	—	—
Net Cash Flow from Financing Activities	(1.61)	(2.65)
Net Increase in Cash and Cash Equivalents	46.35	(426.62)
Cash & Cash Equivalents as at Closing Balance	218.68	172.33
Cash & Cash Equivalents as at Opening Balance	172.33	598.95
Net Increase/Decrease in Cash and Cash Equivalents	46.35	(426.62)

Here is a summary of the Cash Flow Statement for the years 2024 and 2023: 

CASH FLOW FROM OPERATING ACTIVITIES 

The net profit before tax for the year 2023-24 stood at ₹1,227.48 lakhs, reflecting a significant increase compared to ₹971.74 lakhs in the previous year. Depreciation amounted to ₹48.19 lakhs, slightly lower than ₹55.59 lakhs in 2022-23. Finance costs decreased to ₹1.61 lakhs from ₹2.65 lakhs, while there was a capital gain of ₹0.79 lakhs compared to a loss of ₹20.40 lakhs in the previous year. Other key adjustments included a profit on the sale of investments in property amounting to ₹27.02 lakhs and a negligible profit on the sale of fixed assets at ₹0.24 lakhs. The fair value of current investments decreased by ₹94.18 lakhs, and dividend income reduced to ₹39.83 lakhs from ₹41.14 lakhs. Interest income and other income amounted to ₹209.48 lakhs and ₹140.05 lakhs, respectively. 

After accounting for changes in working capital, trade and other receivables increased by ₹309.85 lakhs, while inventories and trade payable decreased by ₹515.44 lakhs and ₹131.41 lakhs, respectively. The net operating profit before tax adjustments amounted to ₹430.28 lakhs. Direct tax paid during the year was ₹312.30 lakhs, and extraordinary items contributed ₹248.11 lakhs. This resulted in a net cash flow from operating activities of ₹366.09 lakhs, compared to ₹288.14 lakhs in the previous year. 

CASH FLOW FROM INVESTING ACTIVITIES 

During the year, there was a purchase of fixed assets amounting to ₹52.52 lakhs, whereas sales of fixed assets contributed ₹129.98 lakhs. The sale of investments stood at ₹2,970.97 lakhs, while the purchase of investments amounted to ₹3,755.92 lakhs. Dividend income during the year was ₹39.83 lakhs, and interest received amounted to ₹209.48 lakhs. Other income totaled ₹140.05 lakhs. Overall, the net cash flow from investing activities resulted in a negative balance of ₹318.12 lakhs compared to ₹712.11 lakhs in the previous year. 

CASH FLOW FROM FINANCING ACTIVITIES 

Interest paid during the year was ₹1.61 lakhs, with no repayment of short-term loans. As a result, the net cash used in financing activities was ₹1.61 lakhs, slightly lower than ₹2.65 lakhs in the previous year. 

NET INCREASE/DECREASE IN CASH AND CASH EQUIVALENTS 

The combined effect of operating, investing, and financing activities resulted in a net increase in cash and cash equivalents of ₹46.35 lakhs, compared to a significant decrease of ₹426.62 lakhs in the previous year. The closing balance of cash and cash equivalents as of 31-03-2024 was ₹218.68 lakhs, while the opening balance was ₹172.33 lakhs. 

Financial Ratios of Remi Sales and Engineering Limited

Ratio	2024	2023
Current Ratio	1.91	1.63
Debt-Equity Ratio	0.00	0.00
Debt Service Coverage Ratio	0.00	0.00
Return on Equity Ratio	12.41%	11.54%
Inventory Turnover Ratio	9.68	11.15
Trade Receivable Turnover Ratio	6.08	6.04
Trade Payable Turnover Ratio	4.81	4.28
Net Capital Turnover Ratio	5.00	6.84
Net Profit Ratio	5.56%	4.54%
Return on Capital Employed	16.68%	15.11%
Return on Investment	8.62%	5.23%

 

Insights for 2023-24 

The Current Ratio improved from 1.63 in the previous year to 1.91, indicating better liquidity and the company’s ability to cover its short-term obligations. The Debt-Equity Ratio and Debt Service Coverage Ratio remained at 0.00, which implies the company operates without relying on debt financing, a sign of financial stability. 

The Return on Equity Ratio increased to 12.41% from 11.54%, reflecting enhanced profitability relative to shareholders ' equity. However, the Inventory Turnover Ratio declined to 9.68 from 11.15, suggesting slower movement of inventory compared to the previous year. 

The Trade Receivable Turnover Ratio showed a marginal improvement to 6.08 from 6.04, implying slightly better efficiency in collecting receivables. The Trade Payable Turnover Ratio rose to 4.81 from 4.28, indicating quicker settlement of trade payables. 

A significant decline in the Net Capital Turnover Ratio from 6.84 to 5.00 may suggest reduced efficiency in utilizing working capital to generate revenue. The Net Profit Ratio improved to 5.56% from 4.54%, indicating enhanced profitability. 

The Return on Capital Employed increased to 16.68% from 15.11%, showcasing better returns on the total capital employed in the business. Additionally, the Return on Investment rose to 8.62% from 5.23%, highlighting improved investment performance. 

Overall, the financial performance for 2023-24 reflects improved profitability and liquidity, though some operational efficiencies like inventory and capital utilization need attention.