Rydak Syndicate Limited (Rydak Syndicate) Return Comparision with Primex 40 Index

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

Rydak Syndicate Limited Consolidated Balance Sheet (Rs in Lakhs)

Particulars	31-03-2025	31-03-2024
Non-Current Assets
Property, Plant & Equipment	10147.26	7436.89
Right to Use	44.80	42.94
Capital work-in-progress	451.67	490.68
Investments	64.07	80.55
Deferred Tax Assets (Net)	532.28	407.35
Current Assets
Inventories	3418.66	3021.14
Biological Assets other than Bearer Plants	52.82	56.32
Trade Receivables	290.12	166.34
Cash and Cash Equivalents	64.07	100.16
Other Financial Assets	75.01	63.61
Current Tax Assets (Net)	248.97	524.04
Other Current Assets	317.07	298.98
Total Assets	15706.80	12689.00
Equity Share Capital	97.31	97.31
Other Equity	7230.34	7019.18
Non Current Liabilities
Borrowings (Financial)	1701.59	565.73
Provisions	1411.32	961.99
Other Non Current Financial Liabilities	1049.82	1043.95
Lease Liability	40.30	36.58
Current Liabilities
Borrowings	965.40	264.23
Total outstanding dues of micro enterprises and small enterprises	19.99	13.47
Total outstanding dues of creditors other than micro enterprises and small enterprises	1368.62	936.93
Lease Liability	7.92	7.72
Other Financial Liabilities	1494.44	1327.87
Other Current Liabilities	123.34	66.14
Provisions	196.41	347.90
Total Equity and Liabilities	15706.80	12689.00

Rydak Syndicate Limited Consolidated Profit and Loss Statement (Rs in Lakhs)

Particulars	31-03-2025	31-03-2024
Revenue from Operations	13642.05	13979.13
Other Income	225.38	169.98
Total Income	13867.43	14149.11
Expenses
Cost of Materials Consumed	531.76	516.74
Changes in Stock and Work in progress	-427.02	-246.90
Employee Benefit Expenses	9059.44	8946.62
Finance Costs	270.52	155.08
Depreciation and Amortisation Expenses	370.45	338.71
Other Expenses	3875.05	3864.26
Total Expenses	13680.20	13574.51
Profit Before Tax	187.23	574.60
Current Tax Expense	182.84	28.62
Deferred Tax	-137.63	55.22
Profit After Tax	142.02	490.76
Other Comprehensive Income	31.85	-21.89
Total Comprehensive Income for the period	173.87	468.88
Paid Up Equity Share Capital	97.31	97.31
Reserve excluding Revaluation Reserves	7230.34	7019.18
Earning per Share
Basic	14.59	50.43
Diluted	14.59	50.43

Rydak Syndicate Limited Consolidated Cash Flow Statement (Rs in Lakhs)

Particulars	31-03-2025	31-03-2024
Cash Flow from Operating Activities
Net Profit Before Tax	187.23	574.60
Adjustments for:
Depreciation/Amortization	370.45	338.71
Changes in Biological Assets	3.50	-34.27
Finance Cost	270.52	155.08
Interest on FD Received	-21.21	-3.91
Net gain/(loss) on investments measured at fair value through profit or loss	16.24	-23.61
Operating Profit Before WC Changes	826.73	1006.60
Adjustments for:
Non Current/Current financial and other assets	-627.46	-437.01
Inventories	-397.52	-291.17
Non Current/Current financial and other liabilities/provisions	1609.93	514.18
Net Cash from Operating Activities	1411.68	792.60
Cash Flow from Investing Activity
Payment for purchase of property, plant and equipment	-3028.26	-1205.38
Interest on FD Received	21.21	3.91
Net Cash from Investing Activities	-3007.05	-1201.47
Cash Flow from Financing Activity
Proceeds from Short term Borrowings	701.16	104.21
Proceeds from Long term Borrowings	1135.86	2.70
Interest paid	-268.01	-199.57
Dividend paid	-9.73	-9.73
Net Cash from Financing Activities	1559.28	-102.39
Net Increase in Cash & Cash Equivalents	-36.09	-511.26
Opening Cash & Cash Equivalents	100.16	611.42
Closing Cash & Cash Equivalents	64.07	100.16

Here is a summary of the Cash Flow Statement for the years 2025 and 2024:

Operating Activities

In FY 2025, Rydak Syndicate generated a profit before tax of ₹187.23 crore, supported by significant non-cash adjustments like depreciation (₹370.45 crore) and finance costs (₹270.52 crore). Despite increases in inventories and other assets, a large inflow from liabilities and provisions led to a strong operating cash flow of ₹1,411.68 crore, reflecting improved working capital management compared to ₹792.60 crore in FY 2024.

Investing Activities

Investing activities show a steep outflow of ₹3,028.26 crore towards the purchase of property, plant, and equipment, signifying aggressive capital expansion during the year. A minor inflow from interest on FD (₹21.21 crore) provided only limited relief. As a result, the net cash used in investing activities stood at ₹(3,007.05 crore), significantly higher than the ₹(1,201.47 crore) outflow in FY 2024.

Financing Activities

On the financing front, the company raised funds through both short-term (₹701.16 crore) and long-term borrowings (₹1,135.86 crore). However, these were partially offset by interest payments (₹199.57 crore) and dividends (₹9.73 crore). The net cash used in financing activities was ₹(102.39 crore), slightly better than ₹(102.39 crore) in the previous year, reflecting stable financial obligations management

Net Cash Position

The company reported a net decrease in cash and cash equivalents of ₹36.09 crore, compared to a ₹511.26 crore decrease in FY 2024. Despite robust operational inflows, high capital expenditure led to an overall drop in cash.

Financial Ratios of Rydak Syndicate Limited

Particulars	31-03-2025	31-03-2024
Current Ratio	1.07	1.43
Debt-Equity Ratio	0.36	0.12
Debt-Service Coverage Ratio	1.69	4.17
Return on Equity	1.97%	13.39%
Trade Receivables Turnover Ratio	59.77	96.37
Inventory Turnover Ratio	2.89	4.47
Trade Payables Turnover Ratio	1.82	2.43
Net Capital Turnover Ratio	47.72	11.17
Retun on Capital Employed	4.58%	9.18%
Return on Investments:
Quoted	-23%	0%

Summary of Financial Ratios for the years 2024 and 2025:

Current Ratio
The current ratio measures the company’s ability to cover its short-term liabilities with its short-term assets. For the year ending 31 March 2025, the ratio stands at 1.07, down from 1.43 in 2024. This decline indicates a weakening in the company’s liquidity position, meaning the company now has less buffer to meet its short-term obligations. Although still above 1, the margin has narrowed, signaling potential pressure on cash flow management.

Debt-Equity Ratio
The debt-equity ratio reflects the proportion of debt and equity in financing the company’s operations. The ratio has increased significantly from 0.12 in 2024 to 0.36 in 2025. This indicates that the company has taken on more debt relative to equity, increasing its financial leverage. Higher leverage can amplify returns during good times but also increases financial risk.

Debt-Service Coverage Ratio (DSCR)
DSCR shows the company’s capacity to meet its debt obligations from operational earnings. The ratio has dropped sharply from 4.17 in 2024 to 1.69 in 2025. This decline suggests that the company now generates much lower coverage for debt payments compared to the previous year, indicating higher vulnerability in managing debt obligations.

Return on Equity (ROE)
ROE measures the profitability generated on shareholders’ equity. The return has fallen drastically from 13.39% in 2024 to 1.97% in 2025. This sharp decline indicates significantly reduced profitability for shareholders, which may be due to lower earnings or higher equity capital.

Trade Receivables Turnover Ratio
This ratio reflects how efficiently the company collects receivables from customers. The turnover has fallen from 96.37 days in 2024 to 59.77 days in 2025. While a lower number of days typically indicates faster collection, the context of such a steep change may also reflect changes in sales patterns or stricter credit policies.

Inventory Turnover Ratio
Inventory turnover measures how quickly inventory is sold and replenished. The ratio decreased from 4.47 in 2024 to 2.89 in 2025, indicating slower movement of inventory. This may suggest overstocking or reduced sales, which can lead to higher holding costs.

Trade Payables Turnover Ratio
This ratio shows how quickly the company pays its suppliers. The turnover has declined from 2.43 in 2024 to 1.82 in 2025, meaning the company is taking longer to pay creditors. While this can improve short-term liquidity, it may strain supplier relationships.

Net Capital Turnover Ratio
Net capital turnover measures the efficiency in using net capital to generate revenue. The ratio has increased dramatically from 11.17 in 2024 to 47.72 in 2025, indicating a more efficient use of capital to generate sales. This is a positive operational indicator.

Return on Capital Employed (ROCE)
ROCE measures the profitability generated from total capital employed. The ratio has dropped from 9.18% in 2024 to 4.58% in 2025. This decline indicates reduced efficiency in utilizing capital to generate operating profits, pointing to operational challenges.

Return on Investments (Quoted)
The return on quoted investments has declined from 0% in 2024 to -23% in 2025. This indicates a significant loss on the company’s investment portfolio, impacting overall profitability and financial stability.

Rydak Syndicate Annual Reports, Balance Sheet and Financials