Spencer and Company Annual Report

Spencer and Company Limited (Spencer) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Spencer and Company Limited

SPENCER AND COMPANY LIMITED Balance Sheet (In INR)

Particulars	2021	2020
ASSETS
Non Current Assets
Property, Plant and equipment	1,039,536.00	1,168,833.00
Intangible Assets
Investment Property	176,100,051.00	202,500,000.00
Financial Assets
(i) Investments	1,664,064,572.00	1,106,750,024.00
(ii) Other financial assets	1,095,083.00	1,025,559.00
Other Non Current Assets	3,457,107.00	3,115,051.00
Total Non Current Assets	184,756,349.00	1,314,559,467.00
Current Assets
Financial Assets
(i) Investments	124,803,041.00	148,405,503.00
(ii) Cash and cash equivalents	19,832,223.00	23,644,694.00
(iii) Other Financial Assets	5,267,464.00	4,983,986.00
Current Tax Assets (Net)	1,072,021.00	2,344,403.00
Other Current Assets	52,952.00	4,999,688.00
Total Current Assets	151,505,401.00	184,378,275.00
Total Assets	1,997,261,750.00	1,498,937,742.00
EQUITY AND LIABILITIES
Equity
Equity Share Capital	98,401,545.00	98,401,545.00
Other Equity	1,577,788,502.00	1,164,663,812.00
Minority Interest -Non-controlling	41,678,243.00	48,349,360.00
Total Equity	171,868,290.00	1,311,414,717.00
LIABILITIES
Non-Current Liabilities
Financial Liabilities
(i)Borrowings	10,000,000.00	10,000,000.00
(ii)Other financial liabilities	81,216,837.00	70,269,056.00
Provisions	652,060.00	646,656.00
Deferred Tax Liability (Net)	185,499,434.00	100,561,489.00
Total Non-Current Liabilities	277,368,331.00	181,477,201.00
Current liabilities
Financial Liabilities
Other Financial Liabilities	722,620.00	3,195,438.00
Other current liabilities	1,302,509.00	2,850,386.00
Total Current Liabilities	2,025,129.00	6,045,824.00
Total Liabilities	279,393,460.00	187,523,025.00
Total Equity and Liabilities	1,997,261,750.00	1,498,937,742.00

SPENCER AND COMPANY LIMITED Profit & Loss Statement (In INR)

Particulars	2021	2020
Income
Revenue from operations	121 ,263269	122,101,900.00
Other Income	33,994,746.00	1 ,720,819
Total Income	155,258,015.00	120,381 ,081
Expenses
Employee benefit expenses	15,364,090.00	14,980,816.00
Finance Costs	540,633.00	9,913,273.00
Depreciation	164,097.00	162,209.00
Other expenses	14,100,386.00	16,427,597.00
Total expenses	30,169,206.00	41,483,895.00
Profit before tax	125,088,809.00	78,897,186.00
Tax expense		13,126,000.00
Current year tax	16,400,000.00	13,126,000.00
Tax paid under V s V scheme	62,419,289.00
Deferred Tax	(3,374,814.00)	4,428,523.00
Prior year tax adjustment	1,530,033.00	294,916.00
Profit/(loss) for the year (A)	48,114,301.00	61,047,747.00
Other Comprehensive Income
Items that will not be re-classified to Profit and Loss
Towards Employees Defined Benefit Obligations	179,033.00
Towards Equity Instruments	446,536,954.00	(888,665,277.00)
Future Tax obligations on above	(106,453,620.00)	217,085,040.00
Other Comprehensive Income	340,262,367.00	(671,580,237.00)
Total Comprehensive Income forthe year(A) + (B)	388,376,668.00	(610,532,490.00)
Earnings per equity share
Basic	4.41	5.58
Diluted	4.41	5.58

SPENCER AND COMPANY LIMITED Consolidated Cash Flow Statement (In INR)

Particulars	2021	2020
Cash Flow from operating activities
Profit before tax	125,088,809.00	78,897,186.00
Non cash adjustment to reconcile Profit Before Tax:
Depreciation/amortization	164,097.00	162,209.00
Employee Benefits	(157,619.00)	51,927.00
Unrealised (gain) / Loss on investments	(40,130,835.00)	(23,196,297.00)
Net (gain) / Loss on sale of investments	(237,036.00)	(278,635.00)
Interest income	(5,023,462.00)	(5,619,724.00)
Dividend income	(26,255,093.00)	(7,745,306.00)
Interest -Finance Cost on tenancy deposit	540,633.00	9,913,273.00
Interest as per effective interest rate method	347,531.00
Un-realised Lease Income	(491,705.00)	(491,705.00)
Operating profit before working capital changes	53,845,320.00	51,692,928.00
Movements in working capital:
Increase/(Decrease) in other liabilities and finacial liabilities	6,907,248.00	(5,034,393.00)
Decrease/(Increase) in trade receivables	1,864,299.00	(1,535,441.00)
Cash generated from operations	62,616,867.00	55,191,880.00
Direct taxes paid (net of refunds)	80,605,160.00	(13,548,574.00)
Net cash flow from operating activities (A)	(17,988,293.00)	41,643,306.00
Cash Flow from investing activities
Purchase of fixed assets	(34,800.00)
Purchase of investments	(154,094,906.00)	(216,216,409.00)
Sale of investments	95,214,883.00	33,966,054.00
Interest received	5,079,508.00	2,993,664.00
Dividends received	26,255,093.00	7,745,306.00
Proceeds from Loan given	3,700,000.00	(3,700,000.00)
Net cash flow from /(used in) investing activities (B)	(23,880,222.00)	(175,211,385.00)
Cash Flow from Financing Activities
Redemption of Preference Share Capital	(30,000,000.00)
Issue of Equity Share Capital	68,120,000.00
Loan taken
Interest paid	(63,956.00)
Net cash flow used in financing activities (C)	38,056,044.00
Net increase /(decrease) in cash and cash equivalents (A+B+C)	(3,812,471.00)	(133,568,079.00)
Cash and cash equivalents at the beginning of the year	23,644,694.00	157,212,774.00
Cash and cash equivalents at the end ofthe year	19,832,223.00	23,644,695.00
Components of cash and cash equivalents
Cash on hand	2,065.00	1,378.00
Cheques/drafts on hand
With banks on current account	14,130,158.00	17,943,316.00
On deposit account	5,700,000.00	5,700,000.00
Total Cash and Cash Equivalents	19,832,223.00	23,644,694.00

In 2021, the company reported a net decrease in cash and cash equivalents of ₹3,812,471 lakhs, compared to a significant decrease of ₹133,568,079 lakhs in 2020.

Operating Activities:

- The profit before tax increased from ₹78,897,186 lakhs in 2020 to ₹125,088,809 lakhs in 2021.

- Non-cash adjustments included depreciation/amortization of ₹164,097 lakhs, employee benefits adjustment of (₹157,619) lakhs, and unrealized (gain)/loss on investments of (₹40,130,835) lakhs.

- Interest income decreased from (₹5,619,724) lakhs to (₹5,023,462) lakhs.

- Cash generated from operations increased from ₹55,191,880 lakhs in 2020 to ₹62,616,867 lakhs in 2021.

- The company paid net direct taxes of ₹80,605,160 lakhs.

Investing Activities:

- The company invested ₹154,094,906 lakhs in fixed assets and purchased investments worth ₹154,094,906 lakhs.

- Sale of investments generated cash of ₹95,214,883 lakhs.

- Interest received from investments increased from ₹2,993,664 lakhs to ₹5,079,508 lakhs.

- Net cash flow from investing activities improved from (₹175,211,385) lakhs in 2020 to (₹23,880,222) lakhs in 2021.

Financing Activities:

- The company redeemed preference share capital amounting to (₹30,000,000) lakhs.

- Equity share capital was raised by ₹68,120,000 lakhs.

- The company did not take any new loans, and the interest paid on existing loans amounted to (₹63,956) lakhs.

- Net cash flow used in financing activities was ₹38,056,044 lakhs.

Cash and Cash Equivalents:

- The net decrease in cash and cash equivalents was primarily due to negative cash flow from operating activities and significant investments in fixed assets and securities.

- Cash and cash equivalents at the end of 2021 were ₹19,832,223 lakhs, compared to ₹23,644,694 lakhs at the beginning of the year.

- Components of cash and cash equivalents included cash on hand (₹2,065 lakhs) and bank balances (₹14,130,158 lakhs in current account, ₹5,700,000 lakhs in deposit account).

Bellow, are the Financial Ratios

Ratios	2022
EBITDA	-3.88 %
Net worth	7.69 %
Return on Equity	7.13%
Total Assets	6.73 %
Fixed Assets	-12.65 %
Current Assets	42.85 %
Current Liabilities	2,877.96 %
Current Ratio	3.67

In 2022, the company 's financial performance is reflected through various key ratios, providing insights into its profitability, financial structure, and efficiency.

1. EBITDA Margin:

- The EBITDA margin is negative at -3.88%, indicating that the company 's earnings before interest, taxes, depreciation, and amortization are insufficient to cover operating expenses. This may suggest operational challenges or high fixed costs.

2. Net Worth as a Percentage of Total Assets:

- The net worth of the company stands at 7.69% of total assets. This ratio signifies the proportion of total assets financed by shareholders ' equity. A higher percentage is generally favorable, indicating a strong financial base.

3. Return on Equity (ROE):

- The Return on Equity is 7.13%, indicating the company 's ability to generate profits from shareholders ' equity. While positive, it may be considered modest. A higher ROE is often desired as it signifies efficient utilization of equity capital.

4. Total Assets Turnover:

- The Total Assets Turnover is 6.73%, illustrating the company 's efficiency in generating revenue relative to its total assets. A higher turnover ratio suggests effective asset utilization.

5. Fixed Assets Turnover:

- The Fixed Assets Turnover is -12.65%, suggesting a negative ratio. This could indicate challenges or inefficiencies in utilizing fixed assets to generate revenue. Further investigation is needed to understand the reasons behind the negative ratio.

6. Current Assets and Current Liabilities:

- The Current Assets to Current Liabilities ratio is 42.85%, indicating a relatively healthy liquidity position. A ratio above 1 suggests that the company has sufficient current assets to cover its short-term liabilities.

7. Current Ratio:

- The Current Ratio is 3.67, reinforcing the company 's strong liquidity position. This ratio compares current assets to current liabilities, and a value above 1 suggests the company can meet its short-term obligations comfortably.

8. Current Liabilities as a Multiple of Equity:

- The Current Liabilities as a Multiple of Equity is 2,877.96%, indicating a significant proportion of current liabilities compared to equity. This could raise concerns about the company 's ability to meet short-term obligations using equity resources.

Spencer and Company Limited Annual Report 2020-21

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Spencer and Company Ltd Annual Report and Financials

Spencer and Company Limited (Spencer) Return Comparision with Primex 40 Index

SPENCER AND COMPANY LIMITED Balance Sheet (In INR)

SPENCER AND COMPANY LIMITED Profit & Loss Statement (In INR)

SPENCER AND COMPANY LIMITED Consolidated Cash Flow Statement (In INR)

Bellow, are the Financial Ratios

Spencer and Company Annual Report

Spencer and Company Limited Annual Report 2020-21

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