Sasvitha Home Finance Annual Reports | Balance Sheet for FY 2021-22

Sasvitha Home Finance Limited (Sasvitha Home Finance) Return Comparision with Primex 40 Index

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Sasvitha Home Finance Limited

Sasvitha Home Finance Limited Balance Sheet (In Rs Hundreds)

Particulars	2022	2021
ASSETS
1. Non- Current Assets
a) Property, plant and equipment and Intangible assets
(i) Property, plant and equipment	78,857.86	82,758.16
(ii) Intangible assets	7,665.51	12,371.45
b) Long term loans and advances	1,09,31,248.56	66,54,516.62
c) Other non-current assets	15,161.99	22,806.99
Total Non- Current Assets	1,10,32,933.94	67,72,453.22
2. Current Assets
a) Cash and Bank Balances	5,53,547.43	37,010.30
b) Short term loans and advances	3,06,920.58	2,64,644.41
c) Other current assets	23,444.46	18,965.67
Total Current Assets	8,83,912.47	3,20,620.38
Total Assets	1,19,16,846.41	70,93,073.60

EQUITY AND LIABILTIES
1. Equity
a) Equity Share Capital	26,88,911.10	21,14,911.10
b) Reserves and surplus	11,76,254.63	1,09,420.73
Total Equity	38,65,165.73	22,24,331.83
2. Liabilities
1. Non- current liabilities
a) Long term borrowings	63,67,277.84	38,84,288.17
b) Deferred tax liabilities (net)	5,397.87	109.94
c) Long term provisions	36,873.64	23,946.39
Total Non-Current Liabilities	64,09,549.35	39,08,344.50
3. Current Liabilities
a) Short term borrowings	15,53,265.84	9,16,974.76
b) Trade payables
(i) Micro enterprises and small enterprises	2,750.00	2,500.00
(ii) Creditors other than micro enterprises and small enterprises	9,102.37	12,016.05
c) Other current liabilities	37,512.22	21,182.87
d) Short-term provisions	39,500.90	7,723.59
Total Liabilities	16,42,131.33	9,60,397.27
Total Equity and Liabilities	1,19,16,846.41	70,93,073.60

Sasvitha Home Finance Limited Profit & Loss Statement (In Rs Hundreds)

Particulars	2022	2021
Revenue From Operations	1382225.35	790690.80
Income from operations	49510.27	15775.17
Total Income	1431735.62	806465.97
Expenses
Finance cost	609172.36	297528.04
Employees benefit expense	205609.35	143311.41
Depreciation and amortization expense	22584.58	20758.72
Other expenses	210757.40	160346.83
Provisions	41210.20	-2757.09
Total expenses	1089333.89	619187.91
Profit before tax	342401.73	187278.06
Tax expense
(a) Current tax	84279.90	35700.00
(b) Deferred tax	5287.93	109.94
Profit for the year	89567.83	35809.94
Earning per Equity share
Basic	1.11	0.72
Diluted	1.11	0.72

Sasvitha Home Finance Limited Consolidated Cash Flow Statement (In Rs Hundreds)

Particulars	2022	2021
Cash flows from operating activities
Profit before taxation	342401.73	187278.06
Adjustments for:
Depreciation and amortisation expense	22584.58	20758.72
Provision for Standard Assets	11306.85	8538.63
Provision under resolution framework	19521.22	3076.26
Provision for NPA	10382.13	-
Provision of contingency	-	-14371.98
Provision for gratuity	1620.41	2697.78
Interest Earned on Deposits	-3737.00	-2930.64
Interest and finance charges	609172.36	297528.04
Operating Profit Before Working Capital Changes	1013252.28	502574.87
Changes in Working Capital
Increase(Decrease) in trade payables	-2663.68	10913.38
Increase(Decrease) in other current liabilities	16329.35	7800.09
(Increase)/Decrease in short-term loans and advances	-7496.65	8771.15
(Increase)Decrease in other assets	6339.87	-11628.41
Operating Profit after Working Capital Changes	1025761.17	518431.08
Increase/Decrease in Housing/other loans	-4311511.46	-3250488.81
Income tax paid (net)	-82405.95	22451.65
Net cash used in Operating Activities	3368156.24	-2754509.38
Cash flows from investing activities
Purchase of property, plant and equipment and intangible assets	-13978.36	-19590.38
Interest received on Deposits	563.34	5158.52
(Investments)/redemption of Deposits	-100180.80	98800.00
Net Cash (used in)/ from Investing Activities	113595,82	84368.14
Cash flow from financing activities
Proceeds from issue of shares	1388000	-
Proceeds from long-term borrowings (net)	3152129.8	2793460.37
Proceeds from short-term borrowings from related parties	75000	-
Increase/ (Decrease) in other short-term borrowings	-107849.05	191322.64
lnterest and finance charges paid	-609172.36	-297528.04
Net cash from Financing Activities	3898108.39	2687254.97
Net increase in cash and cash equivalents	416356.33	17113.73
Cash and cash equivalents at the beginning of the financial year	25810.3	8696.57
Cash and cash equivalents at the end of the financial year	442166.63	25810.3

Here is a summary of the Cash Flow Statement for the years 2022 and 2021:

Cash Flows from Operating Activities:

1. Profit Before Taxation:

In 2022, the profit before taxation was ₹342,401.73, a significant increase from ₹187,278.06 in 2021.

2. Adjustments for Depreciation and Amortisation Expense:

Depreciation and amortisation expenses increased from ₹20,758.72 in 2021 to ₹22,584.58 in 2022.

3. Provisions:

Several provisions were made, including Standard Assets, Resolution Framework, NPA, and Gratuity. Notably, there was a provision for NPA in 2022, which was absent in 2021.

4. Interest Earned and Finance Charges:

Interest earned on deposits decreased, and interest and finance charges increased significantly in 2022 compared to 2021.

5. Operating Profit Before Working Capital Changes:

The operating profit before working capital changes rose sharply from ₹502,574.87 in 2021 to ₹1,013,252.28 in 2022.

6. Changes in Working Capital:

Trade payables decreased, while other current liabilities, short-term loans and advances, and other assets showed varying trends.

7. Operating Profit After Working Capital Changes:

Despite changes in working capital, the operating profit after these changes increased to ₹1,025,761.17 in 2022.

8. Increase/Decrease in Housing/Other Loans:

A significant decrease in housing/other loans in 2022 (-₹4,311,511.46) compared to 2021 (-₹3,250,488.81).

9. Income Tax Paid (Net):

Net income tax paid increased in 2022 compared to 2021.

10. Net Cash Used in Operating Activities:

A substantial increase in net cash used in operating activities in 2022 compared to a negative value in 2021.

Cash Flows from Investing Activities:

1. Purchase of Property, Plant, and Equipment:

Expenditure on property, plant, and equipment decreased in 2022.

2. Interest Received and Investments/Redemption of Deposits:

Interest received on deposits increased, and there was a net cash inflow from investing activities in 2022.

Cash Flows from Financing Activities:

1. Proceeds from Issue of Shares:

In 2022, there were proceeds from the issue of shares, which were absent in 2021.

2. Long-term Borrowings:

Significant proceeds from long-term borrowings, both in 2022 and 2021.

3. Short-term Borrowings:

Notable changes in short-term borrowings, with an increase in other short-term borrowings in 2022.

4. Interest and Finance Charges Paid:

Substantial payments for interest and finance charges, with a significant increase in 2022.

5. Net Cash from Financing Activities:

A substantial increase in net cash from financing activities in 2022 compared to 2021.

Net Increase in Cash and Cash Equivalents:

The net increase in cash and cash equivalents was significantly higher in 2022 (₹416,356.33) compared to 2021 (₹17,113.73).

Cash and Cash Equivalents:

The cash and cash equivalents at the end of the financial year increased to ₹442,166.63 in 2022 from ₹25,810.30 in 2021.

Financial Ratios

Ratio	2022	2021
Debt equity ratio	2.05	2.16
Return on equity	17.34%	10.18%
Trade payable turnover ratio	12.87	5.30%
Net capital turnover ratio	-1.82	47.50%
Net profit ratio	18.29%	-0.86%
Return on capital employed	8.07%	1.17%
Return on investment	4.08%	-0.76%

Here is a summary of the Financial Ratio for the years 2022 and 2021:

1. Debt Equity Ratio:

2022: 2.05, 2021: 2.16

The debt equity ratio measures the proportion of a company 's debt to its equity. A ratio above 1 indicates that the company has more debt than equity. A decrease from 2.16 in 2021 to 2.05 in 2022 suggests a slight improvement in the company 's financial leverage. However, the company still has more debt than equity.

2. Return on Equity (ROE):

2022: 17.34%, 2021: 10.18%

ROE indicates the profitability of a company in relation to shareholders ' equity. A higher ROE is generally favourable. The increase from 10.18% in 2021 to 17.34% in 2022 signifies improved profitability in relation to shareholders ' investment.

3. Trade Payable Turnover Ratio:

2022: 12.87, 2021: 5.30%

Trade payable turnover ratio measures how quickly a company pays its suppliers. A higher ratio indicates a shorter time to pay off payables. The increase from 5.30% in 2021 to 12.87 in 2022 suggests that the company is managing its trade payables more efficiently in 2022.

4. Net Capital Turnover Ratio:

2022: -1.82, 2021: 47.50%

Net capital turnover ratio measures how efficiently a company uses its capital to generate revenue. A negative ratio is unusual and may indicate operational challenges. The significant decrease from 47.50% in 2021 to -1.82 in 2022 is concerning. It implies that the company 's capital is not effectively utilized to generate revenue, possibly indicating operational inefficiencies or financial challenges.

5. Net Profit Ratio:

2022: 18.29%, 2021: -0.86%

Net profit ratio measures the percentage of profit relative to total revenue. A negative ratio in 2021 is uncommon and could be due to a net loss. The increase from -0.86% in 2021 to 18.29% in 2022 indicates a significant turnaround in profitability, with the company earning a positive net profit in 2022.

6. Return on Capital Employed (ROCE):

2022: 8.07%, 2021: 1.17%

ROCE assesses the efficiency of capital utilization, including both debt and equity. The increase from 1.17% in 2021 to 8.07% in 2022 signifies improved efficiency in generating profits from the capital employed.

7. Return on Investment (ROI):

2022: 4.08%, 2021: -0.76%

ROI measures the return on overall investments made by the company. The increase from -0.76% in 2021 to 4.08% in 2022 indicates a positive return on investments, suggesting a better performance in utilizing invested capital.

Dividend History (NA)