Sicom Ltd Annual Report | Revenue

Sicom Limited (SICOM) Return Comparision with Primex 40 Index

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Sicom Limited

Sicom Limited Balance Sheet (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Financial assets
Cash and cash equivalents	3,447.83	4,716.55
Bank balance other than cash and cash equivalents	17,569.25	3,309.21
Receivables
Trade receivables	150.18	37.18
Other receivables	12.60	13.91
Loans	8,047.74	10,576.59
Investments	40,516.61	41,340.25
Other financial assets	940.85	845.27
Non-financial assets
Current tax assets (net)	4,761.99	4,533.73
Deferred tax assets (net)	3,717.78	8,727.88
Investment property	10,627.14	10,637.75
Property, plant and equipment	4,737.53	5,781.90
Intangible assets under development	-	508.66
Other intangible assets	0.06	45.01
Other non-financial assets	1,426.00	1,016.50
Total assets	95,955.56	92,090.39
Financial liabilities
Trade Payables
total outstanding dues of micro enterprises and small enterprises	51.64	24.80
total outstanding dues of creditors other than micro enterprises	181.82	65.29
Other Payables
Total outstanding dues of creditors other than micro/small enterprises	79.64	73.83
Borrowings (other than deposits)	4,743.58	4,743.58
Deposits	28,013.00	28,151.96
Subordinated liabilities	750.00	750.00
Other financial liabilities	13,255.77	12,395.95
Non-financial liabilities
Current tax liabilities (Net)	605.91	616.88
Provisions	422.45	402.81
Other non-financial liabilities	1,461.68	1,328.47
Equity
Equity share capital	6,076.87	6,076.87
Other equity	40,313.20	37,459.95
Total liabilities and equity	95,955.56	92,090.39

Sicom Limited Profit & Loss Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Revenue from operations
Interest income	5,546.96	3,044.25
Dividend income	18.56	27.84
Net gain on fair value changes	1,788.32	(1,018.83)
Other operating income	894.86	423.25
Total revenue from operations	8,248.70	2,476.51
Other income	1,482.30	700.72
Total income	9,731.00	3,177.23
Expenses
Finance cost	2,877.02	2,656.39
Impairment on financial instruments	(3,856.87)	(8,879.01)
Employee benefit expenses	902.23	1,030.73
Depreciation and amortization	546.81	583.14
Other expenses	2,161.54	1,257.91
Total Expenses	2,630.73	(3,350.84)
Profit/(loss) before exceptional items and tax	7,100.27	6,528.07
Exceptional items	1,839.44	3,968.48
Profit/(loss) before tax	5,260.83	2,559.59
Current tax	63.47	36.00
Deferred tax (credit)	5,010.10	2,924.53
Tax for Earlier years	-	116.36
Profit/(loss) for the year	187.26	(517.30)
Impairement Reserve	297.36	435.74
Profit/(loss) for the year	(110.10)	(953.04)
Other comprehensive income
Items that will not be reclassified to profit or loss
Investment in equity share measured at FVOCI	2,714.80	965.76
Remeasuring gain/(Loss) on defined benefit plan	(48.81)	(3.02)
Other comprehensive income	2,665.99	962.74
Total comprehensive income	2,555.89	9.70
Profit for the year attributable to
Equity holders of the Company	(110.10)	(953.04)
Total other comprehensive income for the year, net of tax
Equity holders of the Company	2,665.99	962.74
Earnings per equity share
Basic (Rs.)	(0.18)	(1.57)
Diluted (Rs.)	(0.18)	(1.57)

Sicom Limited Consolidated Cash Flow Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Cashflow from Operating activities
Profit before tax	5,260.83	2,559.59
Adjustments to reconcile profit before tax to net cash flows:
Depreciation & amortisation	546.81	583.14
Dividend Earned	(18.56)	(27.84)
Loss on sale of Property, plant & equipment (net)	126.70	0.87
Profit on sale of Fixed Asset (net)	(293.73)	(23.73)
Impairment of Financial Instrument	(3,856.87)	(8,740.84)
Interest Income on Bank Deposit	(848.34)	(321.34)
Interest Income on Bonds	(1,575.14)	(1,821.26)
Net (gain)/loss on fair value changes on Investments	(1,788.32)	1,018.83
Provision on Intangible Assets under development	2.28	27.70
Rent	(1,186.24)	(654.87)
Fianance Cost	2,877.02	2,656.39
Interest Income from Joint Venture	-	(16.86)
Operating profit before Working Capital Changes	(753.56)	(4,760.22)
Working Capital Changes
(Increase)/decrease in Loans	6,378.54	11,677.69
(Increase)/decrease in Other financial assets	(95.58)	54.21
(Increase)/decrease in Bank Deposits	(14,260.04)	(74.06)
(Increase)/decrease in Trade Receivables	(211.18)	(16.26)
(Increase)/decrease in Other Receivables	106.67	1,135.57
(Increase)/decrease in Investments	5,326.76	10,506.38
(Increase)/decrease in Other Non Financial Asset	(409.50)	(287.03)
Increase/(decrease) in Provisions	(29.17)	(23.96)
Increase/(decrease) in Trade Payables	143.37	(14.63)
Increase/(decrease) in Other Payables	5.81	10.36
Increase/(decrease) in Other Financial Liabilities	859.82	846.52
Increase/(decrease) in Other Non Financial Liabilities	133.21	52.22
Cash generated from / (used in) Operations	(2,804.85)	19,106.79
Direct taxes paid (net of refunds)	(302.70)	(146.35)
Net cash generated from / (used in) Operating activities (A)	(3,107.55)	18,960.44
Cashflow from Investing Activities
Purchase of Property,Plant & Equipment & Intangible Assets	(28.71)	(171.08)
Sale of Property,Plant & Equipment & Intangible Assets	1,255.24	320.46
Dividend Earned	18.56	27.84
Rent	1,186.24	654.87
Interest Income from Joint Venture	-	16.86
Interest Income on Bank Deposit	848.34	321.34
Interest Income on Bonds	1,575.14	1,821.26
Net cash flows from/(used in) Investing Activities (B)	4,854.81	2,991.56
Cashflow from Financing Activities
Repayment of Deposits	(138.96)	(16,322.77)
Finance Cost	(2,877.02)	(2,656.39)
Net cash flows from Financing Activities	(3,015.98)	(18,979.16)
Net increase in Cash and Cash Equivalents (A+B+C)	(1,268.71)	2,972.83
Cash and cash equivalents at beginning	4,716.55	1,743.72
Cash and cash equivalents at the end of the year	3,447.83	4,716.55
Components of Cash and Cash Equivalents
Cash on hand	0.88	1.46
Balances with bank	968.12	1,928.09
Bank deposit with maturity of less than 3 months	2,478.83	2,787.00
Total	3,447.83	4,716.55

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

Cash Flow from Operating Activities

2024: Rs. -3,107.55 Lakhs | 2023: Rs. 18,960.44 Lakhs

2024: The company reported a negative cash flow from operating activities. The key reasons for this are large negative adjustments such as impairment of financial instruments (Rs. -3,856.87 Lakhs), interest income from various sources (bonds and bank deposits), and rental income. Despite these reductions, some operating income from changes in working capital, like an increase in loans (Rs. 6,378.54 Lakhs), couldn't offset the overall negative cash flow. The profit before tax of Rs. 5,260.83 Lakhs was insufficient to generate positive operating cash flow due to the mentioned adjustments and changes in working capital.

2023: In contrast, 2023 saw a significantly positive cash flow from operations, largely driven by a positive working capital impact, such as a decrease in loans (Rs. 11,677.69 Lakhs) and investments (Rs. 10,506.38 Lakhs). This helped counterbalance the impairments and other non-operating income, leading to strong operating cash flows for that year.

Cash Flow from Investing Activities

2024: Rs. 4,854.81 Lakhs | 2023: Rs. 2,991.56 Lakhs

2024: The cash inflows from investing activities were primarily driven by the sale of property, plant & equipment (Rs. 1,255.24 Lakhs), rent income (Rs. 1,186.24 Lakhs), and interest income from bonds (Rs. 1,575.14 Lakhs). The company’s investing activities in 2024 were overall positive, demonstrating effective asset management and capital generation through non-core activities such as rent and interest income.

2023: The cash flows from investing activities in 2023 were lower than in 2024, but still positive. The sale of property, plant & equipment and interest income contributed to the positive cash flow, but the scale of these activities was smaller compared to 2024.

Cash Flow from Financing Activities

2024: Rs. -3,015.98 Lakhs | 2023: Rs. -18,979.16 Lakhs

2024: The financing activities resulted in a negative cash flow, mainly due to the repayment of deposits (Rs. -138.96 Lakhs) and finance costs (Rs. -2,877.02 Lakhs). However, the negative cash flow from financing in 2024 was significantly smaller compared to 2023, which suggests reduced debt obligations or financing activities.

2023: In 2023, the company had a significantly larger outflow from financing activities, mainly driven by substantial repayments of deposits (Rs. -16,322.77 Lakhs), which drained a large portion of the company's cash reserves.

Net Change in Cash and Cash Equivalents

2024: Rs. -1,268.71 Lakhs | 2023: Rs. 2,972.83 Lakhs

2024: The company saw a decrease in its cash and cash equivalents by Rs. -1,268.71 Lakhs in 2024, primarily due to negative cash flow from operations and financing activities, despite positive cash flow from investing activities.

2023: In contrast, 2023 saw a significant increase in cash reserves due to the positive net cash flow from operating and investing activities.

Cash and Cash Equivalents at Year-End

2024: Rs. 3,447.83 Lakhs | 2023: Rs. 4,716.55 Lakhs

The company ended 2024 with a cash balance of Rs. 3,447.83 Lakhs, down from Rs. 4,716.55 Lakhs in 2023. This reflects the overall cash outflows during the year.

Sicom Limited Annual Report and Financials

Sicom Limited (SICOM) Return Comparision with Primex 40 Index

Sicom Limited Balance Sheet (Rs in Lakhs)

Sicom Limited Profit & Loss Statement (Rs in Lakhs)

Sicom Limited Consolidated Cash Flow Statement (Rs in Lakhs)

Sicom Limited Annual Report

Sicom Limited Annual Report 2023-24

Sicom Limited Annual Report 2022-23

Sicom Annual Report 2021-22

Sicom Annual Report 2020-21

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