SNA Milk And Milk Products Annual Reports, Balance Sheet and Financials

SNA Milk and Milk Products Limited Standalone Balance Sheet (Rs in Hundreds)

Particulars	31-03-2024	31-03-2023
Equity
Share Capital	34,165.00	20,420.00
Reserves & Surplus	3,546,953.55	714,164.86
Non-Current Liabilities
Long Term Borrowings	197,173.54	319,574.55
Long Term Provisions	15,166.56	0.00
Current Liabilities
Short Term borrowings	1,876.97	8,335.83
Trade Payables	77,826.33	43.094.25
Other current liabilities	37,401.85	27,528.36
Short term Provisions	10,798.35	6,741.11
Total Equity & Liabilities	3,921,362.14	1,139,858.95
Non-Current Assets
Property, plant and equipment	237,385.84	151,320.88
Non-Current Investments	694,442.74	0.00
Deferred tax assets (net)	135,363.64	7,394.96
Other Non-Current Assets	849,040.07	19,345.00
Current Assets
Inventories	228,555.00	90,158.90
Trade Receivables	807,633.78	500,860.53
Cash & cash equivalents	726,820.13	154,788.13
Short Term Loans & Advances	199,067.94	178,209.69
Other Current Assets	43,053.00	37,780.87
Total Assets	3,921,362.14	1,139,858.95

SNA Milk and Milk Products Limited Standalone Profit & Loss Statement (Rs in Hundreds)

Particulars	31-03-2024	31-03-2023
Income
Revenue from Operations	2,012,255.25	1,790,525.85
Other Income	52,866.91	19,485.01
Total Income	2,065,122.16	1,810,010.86
Expenses
Cost of material consumed	1,377,459.80	966,848.37
Change in inventories of finished goods, work-in-progress and stock-in-trade	-130,924.54	-31,416.72
Employee Benefit Expenses	258,306.52	362,633.68
Finance Costs	13,342.09	10,776.43
Depreciation & amortization expense	19,784.31	22,503.97
Other Expenses - Direct	46,342.74	53,667.30
Other Expenses - Indirect	468,727.32	417,925.14
Total Expenses	2,053,038.24	1,802,938.16
Profit Before Tax	12,083.92	7,072.70
Deferred Tax	-127,968.68	-1,903.73
Profit/(Loss) for the period	140,052.60	8,976.43
Earning per share
Basic	7.58	0.48
Diluted	6.75	0.45

Financial ratios of SNA Milk and Milk Products Limited

Particulars	31-03-2024	31-03-2023
Current ratio	15.68	11.22
Debt equity ratio	0.06	0.44
Debt service coverage ratio	0.36	0.20
Return on equity ratio	6.49%	2.09%
Inventory turnover ratio	8.64	14.71
Trade receivables turnover ratio	3.08	6.42
Trade payables turnover ratio	4.27	6.87
Net capital turnover ratio	1.07	2.04
Net profit ratio	6.96%	0.50%
Return on capital employed	0.58%	1.63%

 

Summary of the Financial Ratios for the years 2024 and 2023:

 

Current Ratio

The current ratio increased significantly from 11.22 in 2023 to 15.68 in 2024, indicating a very strong liquidity position. The company has ample current assets to meet its short-term obligations. However, such a high ratio may also suggest inefficient use of working capital and excess idle current assets.

 

Debt Equity Ratio

The debt-equity ratio declined sharply from 0.44 in 2023 to 0.06 in 2024, showing that the company has significantly reduced its dependence on external borrowings. This reflects a strong capital structure with very low financial risk.

 

Debt Service Coverage Ratio

The debt service coverage ratio improved from 0.20 in 2023 to 0.36 in 2024, indicating better ability to meet debt obligations. However, since the ratio is still below 1, it shows that the company’s earnings are not yet sufficient to comfortably cover its debt servicing requirements.

 

Return on Equity

The return on equity increased from 2.09% in 2023 to 6.49% in 2024, reflecting improved profitability and better returns for shareholders. This shows that the company has utilized shareholders’ funds more efficiently during the year.

 

Inventory Turnover Ratio

The inventory turnover ratio declined from 14.71 in 2023 to 8.64 in 2024, indicating slower movement of inventory. This suggests higher inventory holding and possible overstocking, which may increase storage and carrying costs.

 

Trade Receivables Turnover Ratio

The receivables turnover ratio decreased from 6.42 to 3.08, showing slower collection from customers. This indicates weaker credit management and delayed cash inflows.

 

Trade Payables Turnover Ratio

The payables turnover ratio declined from 6.87 to 4.27, meaning the company is taking longer to pay its suppliers. While this improves short-term liquidity, it may affect supplier relationships.

 

Net Capital Turnover Ratio

The net capital turnover ratio dropped from 2.04 to 1.07, indicating lower efficiency in using working capital to generate sales.

 

Net Profit Ratio

The net profit ratio improved significantly from 0.50% to 6.96%, showing strong growth in profitability and better cost control.

 

Return on Capital Employed

ROCE declined from 1.63% to 0.58%, indicating that although profits improved, the company is not generating adequate returns on its total capital employed.