Samyak Corporation Latest Annual Report, Balance Sheet and Financials

Samyak Corporation Limited Balance Sheet (In Rs)

Particulars	2023	2022
ASSETS
Non-current assets
Property, plant and equipment	130.27	22.52
Capital work-in-progress	0	0
Goodwill	0	0
Other intangible assets	0	0
Financial assets
(i) Investment	3206.02	3985.36
(ii) Other Financial assets	0	0
Deferred tax assets (net)	2.72	3.48
Income tax assets (net)	0	0
Other non-current assets	0	0
Total non-current assets (1)	3339.01	4011.36
Current assets
Inventories	245.84	214.92
Financial assets
(i) Trade Receivables	94.18	221.33
(ii) Cash and cash equivalents	11.45	15.5
(iv) Loans & advances	293.23	92.73
(v) Other Financial assets	0	0
Other current assets	0	0
Total current assets (2)	644.7	544.48
Total - Assets (1+2)	3983.71	4555.84
EQUITY AND LIABILITIES
EQUITY
Equity Share capital	624.72	624.72
Other equity	2735.34	3185.49
Total Equity (1)	3360.06	3810.21
Non-current liabilities
Financial Liabilities
(i) Borrowings	167.11	181.46
Provisions	0	0
Other non-current liabilities	0	0
Total non-current liabilities (2)	167.11	181.46
Current liabilities
Financial Liabilities
(i) Borrowings	0	0
(ii) Trade payables	449.59	540.93
(iii) Current maturities and other Financial Liabilities	0	10.88
Other current liabilities	0	-14.44
Provisions	6.95	26.8
Income tax liabilities (net)	0	0
Total current Liabilities (3)	456.54	564.17
Total Equity and Liabilities	3983.71	4555.84

Samyak Corporation Limited Profit & Loss Statement (In Rs)

Particulars	2023	2022
Income
(a)  Revenue From operations	2068.3	1734.55
(b)   Other income	11.36	13.97
Total Income	2079.66	1748.52
Expenses	0	0
(a)  Cost of materials consumed	2047.48	1631.9
(b)   Purchase of traded goods	-30.92	77.22
(c)  Changes in inventories of finished goods, work in progress and stock in trade	0	0
(d)   Excise duty	55.44	47.82
(e)   Employee benefits expense	25.18	27.51
(f)   Other Expenses	9.94	5.62
(g)   Depreciation and amortisation expense	15.15	15.7
(h)   Finance Cost	2122.27	1805.77
Total Expenses	-42.61	-57.25
Profit/loss before Prior period Item/exceptional item Prior period Items	0	18.84
Exceptional Items	0	0
Profit before tax (1-2)	-42.61	-76.09
Tax expenses
(a)  Current tax	0	0
(b)  Deferred tax	0.76	0.18
Total Tax expenses	0.76	0.18
Net Profit after tax before share of loss from associates	-43.37	-76.27
Share of loss from associate	0	0
Net Profit after tax and share of loss from associates Other Comprehensive Income	-43.37	-76.27
Items that will not be reclassified subsequently to profit or loss
(i)   Fair value change in investments of company	-406.78	-291.55
Total other Comprehensive income Total comprehensive income	-406.78	-291.55
Paid up equity share capital	624.72	624.72
Other equity
Earnings per equity share
-Basic	-7.21	-5.89
-Diluted	-7.21	-5.89

Samyak Corporation Limited Consolidated Cash Flow Statement (In Rs)

Particulars	2023	2022
CASH FLOW FROM OPERATING ACTIVITIES
NET Profit After Tax	-42.61	-76.09
Extra Ordinary Items Adjustments
Depreciation and amortisation expenses	9.94	5.62
[Gain]/loss on sale of non current assets held for sale
Interest paid	15.15	15.7
Dividend Income
Interest income	-11.36	-13.98
Provision for expenses on employees stock options
Cash generated from operations before working capital changes	-28.89	-68.74
Adjusted for
[Increase]/Decrease in trade Receivables	127.15	26.9
[Increase]/Decrease in other non current financial assets	-186.05	112.48
[Increase]/Decrease in other current financial assets	0	0
[Increase]/Decrease in other non current assets
[Increase]/Decrease in other current assets
[Increase]/Decrease in Inventories	-30.92	77.22
Increase/[Decrease] in trade Payables	-91.33	129.67
Increase/[Decrease] in other non current financial liabilities	0	0
Increase/[Decrease] in other current financial liabilities	-14.35	-44.72
Increase/[Decrease] in other non current liabilities	0	-148.15
Increase/[Decrease] in other current liabilities	-10.88	-6.17
Increase/[Decrease] in non current provisions
Increase/[Decrease] in current provisions	-19.85	8.77
Net cash [used in]/ generated from operating activities - [A]	-255.13	87.26
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of Property, Plant and Equipment	-117.69	4.51
Sale of Current Investments	372.56	-124.37
Interest received	11.36	13.98
Dividend received from others
Net cash [used in]/generated from Investing activities - [B]	266.23	-105.89
CASH FLOW FROM FINANCING ACTIVITIES
Dividends paid
Interest paid	-15.15	-15.7
Net cash [used in]/generated from Financing activities - [C]	-15.15	-15.7
Net increase or decrease in Cash and Cash Equivalents- [A+B+C]	-4.05	-34.33
Add: Cash and Cash Equivalents at the beginning of the year	15.5	49.83
Cash and Cash Equivalents at the end of the year	11.45	15.5

Here is a summary of the Cash Flow Statement for the years 2023 and 2022:

Cash Flow from Operating Activities:

1. Net Profit After Tax:

2023: The company incurred a net loss of ₹42.61 crore, an improvement from the net loss of ₹76.09 crore in 2022.

2. Depreciation and Amortization Expenses:

2023: The company incurred ₹9.94 crore in depreciation and amortization expenses, reflecting the decrease in the value of its assets over time.

2022: This expense was ₹5.62 crore.

3. Interest Paid:

2023: Interest paid was ₹15.15 crore, indicating the cost of borrowing for the company.

2022: The interest paid was ₹15.7 crore.

4. Interest Income:

2023: Interest income was -₹11.36 crore, suggesting that the company paid more interest than it earned.

2022: The interest income was -₹13.98 crore.

5. Cash Generated from Operations before Working Capital Changes:

2023: The company generated ₹-28.89 crore in cash from its core operations before considering changes in working capital.

2022: This value was ₹-68.74 crore.

Adjusted for Working Capital Changes:

6. Increase/Decrease in Trade Receivables:

2023: Trade receivables increased by ₹127.15 crore, possibly due to increased sales or delayed collections.

2022: A smaller increase of ₹26.9 crore in trade receivables.

7. Increase/Decrease in Other Non-Current Financial Assets:

2023: Other non-current financial assets decreased by ₹-186.05 crore, possibly involving a reduction in long-term investments or financial instruments.

2022: A decrease of ₹112.48 crore in other non-current financial assets.

8. Increase/Decrease in Inventories:

2023: Inventories decreased by ₹-30.92 crore, possibly indicating efficient inventory management.

2022: An increase of ₹77.22 crore in inventories.

9. Increase/Decrease in Trade Payables:

2023: Trade payables decreased by ₹-91.33 crore, indicating a reduction in amounts owed to suppliers.

2022: A decrease of ₹129.67 crore in trade payables.

10. Increase/Decrease in Other Current Financial Liabilities:

2023: Other current financial liabilities decreased by ₹-14.35 crore, possibly reflecting a reduction in short-term financial obligations.

2022: A decrease of ₹-44.72 crore in other current financial liabilities.

11. Increase/Decrease in Other Current Liabilities:

2023: Other current liabilities decreased by ₹-10.88 crore, possibly indicating a reduction in short-term obligations.

2022: A decrease of ₹-6.17 crore in other current liabilities.

12. Increase/Decrease in Current Provisions:

2023: Current provisions decreased by ₹-19.85 crore, suggesting a reduction in estimated liabilities.

2022: An increase of ₹8.77 crore in current provisions.

Net Cash Used In/Generated From Operating Activities (A):

2023: The net result after adjustments and working capital changes was a cash outflow of ₹-255.13 crore, indicating that the company used more cash in its operating activities than it generated.

2022: A net cash inflow of ₹87.26 crore.

 Cash Flow from Investing Activities:

13. Purchase of Property, Plant and Equipment:

2023: The company spent ₹-117.69 crore on property, plant, and equipment.

2022: An expenditure of ₹4.51 crore in the same category.

14. Sale of Current Investments:

2023: The company gained ₹372.56 crore from selling current investments.

2022: A loss of ₹-124.37 crore from the sale of current investments.

15. Interest Received:

2023: Interest received was ₹11.36 crore.

2022: Interest received amounted to ₹13.98 crore.

Net Cash Used In/Generated From Investing Activities (B):

2023: Net cash generated from investing activities was ₹266.23 crore.

2022: A net cash outflow of ₹-105.89 crore.

 Cash Flow from Financing Activities:

16. Interest Paid:

2023: Interest paid was ₹-15.15 crore.

2022: Interest paid amounted to ₹-15.7 crore.

Net Cash Used In/Generated From Financing Activities (C):

2023: Net cash outflow from financing activities was ₹-15.15 crore.

2022: Net cash outflow of ₹-15.7 crore.

 Net Increase or Decrease in Cash and Cash Equivalents (A+B+C):

2023: A net decrease of ₹-4.05 crore.

2022: A larger net decrease of ₹-34.33 crore.

 Cash and Cash Equivalents at the End of the Year:

2023: ₹11.45 crore

2022: ₹15.5 crore

Summary:

In 2023, the company showed a decrease in net cash and cash equivalents, primarily influenced by operating activities and investing activities. There was also a reduction in liabilities and efficient working capital management. The decrease in cash was less compared to 2022.

In 2022, there was a significant net cash decrease, influenced by operating activities and a notable loss from the sale of current investments in investing activities. The company also experienced a decrease in liabilities and working capital changes.

Financial Ratios

Ratio	2023	2022
Current ratio	1.41%	0.99%
Debt equity ratio	0.05	0.05
Debt service coverage ratio	-0.68	-2.83
Interest Service	-1.18	22.06
Return on equity	0.07%	-25%
Inventory turnover ratio	-0.13	4.8
Trade receivable turnover ratio	-0.16	-38.91
Trade payable turnover ratio	2.67	2.92
Net capital turnover ratio	-0.23	-325.47
Net profit ratio	-0.02%	-21.21%
Return on capital employed	-0.01%	-2
Return on investment	0	-8.6

Summary of Financial Ratios for the years 2023 and 2022:

Financial Ratios:

1. Current Ratio:

2023: 1.41%

2022: 0.99%

Analysis: The current ratio measures the ability of a company to cover its short-term liabilities with its short-term assets. An increase from 2022 to 2023 indicates improved liquidity.

2. Debt Equity Ratio:

2023: 0.05

2022: 0.05

Analysis: The debt-equity ratio signifies the proportion of debt used for financing compared to equity. A consistent ratio suggests a stable capital structure.

 3. Debt Service Coverage Ratio:

2023: -0.68

2022: -2.83

Analysis: A negative debt service coverage ratio indicates an inability to cover debt obligations from operating income. A less negative value in 2023 suggests a slight improvement.

4. Interest Service:

2023: -1.18

2022: 22.06

Analysis: Interest service ratio measures the ability to cover interest expenses. A negative value in 2023 implies insufficient operating income to cover interest, while a significant positive value in 2022 suggests a healthy coverage.

5. Return on Equity:

2023: 0.07%

2022: -25%

Analysis: Return on equity reflects the profitability relative to shareholders ' equity. The positive value in 2023 indicates a small profit, whereas the large negative value in 2022 signifies a substantial loss.

6. Inventory Turnover Ratio:

2023: -0.13

2022: 4.8

Analysis: A negative inventory turnover ratio suggests issues with inventory management in 2023, while the positive ratio in 2022 indicates a higher frequency of inventory turnover.

7. Trade Receivable Turnover Ratio:

2023: -0.16

2022: -38.91

Analysis: Both years show a negative ratio, which may suggest issues with receivables. A more negative ratio in 2022 indicates a slower turnover.

8. Trade Payable Turnover Ratio:

2023: 2.67

2022: 2.92

Analysis: The trade payable turnover ratio measures how quickly a company pays its suppliers. A decrease from 2022 to 2023 suggests a slightly longer time to pay suppliers.

9. Net Capital Turnover Ratio:

2023: -0.23

2022: -325.47

Analysis: Both years show negative ratios, indicating potential issues with capital turnover. The less negative value in 2023 suggests a slight improvement.

10. Net Profit Ratio:

2023: -0.02%

2022: -21.21%

Analysis: The net profit ratio indicates the percentage of profit relative to total revenue. The less negative value in 2023 suggests a small improvement.

11. Return on Capital Employed:

2023: -0.01%

2022: -2%

Analysis: Return on capital employed reflects the profitability of the total capital employed. The less negative value in 2023 suggests a slight improvement.

12. Return on Investment:

2023: 0%

2022: -8.6%

Analysis: Return on investment reflects the profitability relative to the total investment. The improvement from a negative value in 2022 to zero in 2023 is positive.

Dividend History (NA)