| Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
|---|---|---|---|---|---|---|---|
| Primex-40 | |||||||
| Spray Engineering Devices Limited |
|
Particular |
31-03-2025 |
31-03-2024 |
|
Non-
Current assets |
||
|
Property,
Plant and Equipment |
880.28 |
761.00 |
|
Right
of use assets |
148.69 |
27.08 |
|
Intangible
assets |
114.40 |
14.72 |
|
Intangible
assets under development |
19.67 |
- |
|
Capital
work-in-progress |
112.96 |
131.93 |
|
Investments
|
0.25 |
0.25 |
|
Other
financial assets |
17.61 |
4.44 |
|
Deferred
tax assets (net) |
- |
- |
|
Other
non-current assets |
33.44 |
36.84 |
|
Current
assets |
||
|
Inventories |
1,142.45 |
760.51 |
|
Investments
|
5.29 |
4.10 |
|
Trade
receivables |
1,142.25 |
868.04 |
|
Cash
and cash equivalents |
23.30 |
4.10 |
|
Bank
balances other than above |
106.87 |
112.29 |
|
Other
financial assets |
2.62 |
1.66 |
|
Current
tax assets (net) |
- |
- |
|
Other
current assets |
446.18 |
294.87 |
|
Total
Assets |
4,196.26 |
3,021.83 |
|
Equity |
||
|
Equity
Share Capital |
250.96 |
225.87 |
|
Other
Equity |
1,799.35 |
1,006.92 |
|
Non-current
liabilities |
||
|
Borrowings |
177.17 |
209.93 |
|
Lease
liabilities |
106.44 |
18.04 |
|
Provisions |
65.83 |
52.27 |
|
Deferred
tax liabilities (net) |
33.58 |
31.04 |
|
Current
liabilities |
||
|
Borrowings |
621.14 |
542.60 |
|
Lease
liabilities |
27.49 |
4.28 |
|
Total
outstanding dues of micro enterprises and small enterprises |
78.18 |
52.17 |
|
Total
outstanding dues other than above |
342.20 |
507.86 |
|
Other current
liabilities |
636.82 |
218.80 |
|
Provisions |
27.29 |
27.58 |
|
Current
tax liabilities (net) |
29.81 |
124.47 |
|
Total
equity and liabilities |
4,196.26 |
3,021.83 |
|
Particulars |
31-03-2025 |
31-03-2024 |
|
Revenue
from operations |
4,609.71 |
5,473.45 |
|
Other Income |
8.55 |
9.34 |
|
Total
income |
4,618.26 |
5,482.79 |
|
Expenses |
|
|
|
Cost of
materials consumed |
3,023.35 |
3,405.82 |
|
(Increase)/Decrease in inventories of finished goods, stock-in-trade and WIP |
(117.03) |
62.00 |
|
Employee
benefit expense |
538.48 |
465.61 |
|
Finance
cost |
114.50 |
98.91 |
|
Depreciation and amortization expense |
76.14 |
49.30 |
|
Other expenses |
777.22 |
657.80 |
|
Total
expenses |
4,412.66 |
4,739.44 |
|
Profit
Before Tax |
205.60 |
743.35 |
|
Current
tax |
49.70 |
151.30 |
|
Deferred
tax |
3.45 |
60.50 |
|
Taxation
of earlier years |
2.25 |
- |
|
Profit/(Loss)
for the year from continuing operations |
150.20 |
531.55 |
|
Other
Comprehensive Income (OCI) |
|
|
|
Items that will not be reclassified subsequently
to profit or loss |
(3.63) |
(6.08) |
|
Income
tax relating to items that will not be reclassified to profit or loss |
0.91 |
(1.77) |
|
Total
Comprehensive Income for the year |
147.48 |
523.70 |
|
Earnings
per equity share (in Rs.) |
|
|
|
Basic |
5.95 |
23.19 |
|
Diluted |
5.95 |
23.19 |
|
Particular |
31-03-2025 |
31-03-2024 |
|
Cash
Flow From Operating Activities |
|
|
|
Profit/(Loss)
Before Tax |
201.97 |
737.27 |
|
Adjustments
for: |
|
|
|
Depreciation
and amortisation expense |
76.14 |
49.30 |
|
Bad
debts written off |
- |
30.18 |
|
(Gain)/Loss
on sale of property, plant and equipment |
(0.16) |
- |
|
(Gain)/Loss
on fair valuation of investments |
(0.20) |
(0.99) |
|
Finance
costs |
114.50 |
98.91 |
|
Interest
income |
(6.90) |
(7.08) |
|
Operating
Profit before Working Capital Changes |
385.35 |
907.59 |
|
Adjustments
for: |
|
|
|
Increase
/(decrease) in trade payables |
(139.65) |
147.27 |
|
Increase/(decrease)
in other current liabilities and provisions |
431.28 |
(578.74) |
|
Decrease/(increase)
in trade receivables |
(274.21) |
(297.40) |
|
Decrease/(increase)
in inventories |
(381.93) |
18.42 |
|
Decrease/(increase)
in other current/non-current assets |
(162.05) |
64.18 |
|
Cash generated from /(used in) operations |
(141.21) |
261.32 |
|
Income Taxes
Paid (net of refund) |
(146.60) |
(70.17) |
|
Net
Cash generating from Operating Activities |
(287.81) |
191.15 |
|
Cash
Flow From Investing Activities |
|
|
|
Purchase
of PPE (including capital work-in-progress and intangible assets) |
(279.86) |
(301.03) |
|
(Increase)/decrease
in other bank balances |
5.42 |
17.10 |
|
Proceeds
from sale of property ,plant and equipment |
2.29 |
- |
|
Interest
income |
6.90 |
7.08 |
|
(Increase)/decrease
in Investments |
(1.00) |
(1.01) |
|
(Increase)/Derecognition
of ROU Assets |
(139.69) |
- |
|
Net
Cash From Investing Activities |
(405.94) |
(277.86) |
|
Cash
Flow From Financing Activities |
|
|
|
Proceed
from issue of shares |
670.05 |
- |
|
Proceeds/(repayment)
of long-term borrowings |
76.49 |
0.19 |
|
Proceeds/(repayment)
of short-term borrowings |
80.91 |
175.46 |
|
Finance
costs |
(114.50) |
(98.91) |
|
Net
Cash From Financing Activities |
712.95 |
76.74 |
|
Net Increase/(Decrease)
in Cash and Cash Equivalents |
19.20 |
(9.97) |
|
Opening
balance of cash and cash equivalents |
4.10 |
14.07 |
|
Closing balance of cash and cash equivalents |
23.30 |
4.10 |
Cash Flow from Operating
Activities
The company’s profit before tax fell to ₹201.97 million
in FY 2025 from ₹737.27 million in FY 2024. After adjustments for
non-cash items like depreciation (₹76.14 million) and finance costs
(₹114.50 million), the operating profit before working capital changes
stood at ₹385.35 million versus ₹907.59 million last year.
Rising inventories and receivables led to
cash outflows, while higher liabilities provided some relief. Overall,
operations used ₹287.81 million of cash compared to a ₹191.15 million
inflow in FY 2024, showing lower cash generation mainly due to increased
working capital needs.
Cash Flow from Investing
Activities
In FY 2025, the company continued investing in its
business assets. It spent ₹279.86 million on the purchase of
property, plant, and equipment, compared to ₹301.03 million in FY
2024. The company also recognized new Right-of-Use (ROU) assets worth
₹139.69 million, which contributed to additional outflows.
On the inflow side, it earned ₹6.90 million as
interest income, ₹2.29 million from asset sales, and ₹5.42
million from reduced bank balances. Despite these inflows, the overall net
cash used in investing activities amounted to ₹405.94 million, which
is higher than ₹277.86 million used in FY 2024. This shows the company’s
continued focus on asset expansion and capacity growth.
Cash Flow from Financing
Activities
The financing activities significantly improved the
company’s cash position during FY 2025. The company raised ₹670.05 million
through the issue of new shares, which provided a major inflow of funds. It
also obtained long-term borrowings of ₹76.49 million and short-term
borrowings of ₹80.91 million, supporting its funding needs.
However, the company paid finance costs of
₹114.50 million, which reduced part of the inflow. After these adjustments,
the net cash inflow from financing activities stood at ₹712.95
million, a strong increase compared to ₹76.74 million in FY 2024.
This indicates that the company relied heavily on equity and debt funding to
finance its operations and investments.
Net Cash Flow and Closing Balance
After considering all operating, investing, and
financing activities, the company recorded a net increase in cash and cash
equivalents of ₹19.20 million during FY 2025. In contrast, there was a cash
decrease of ₹9.97 million in FY 2024.
The closing cash balance at the end of FY
2025 stood at ₹23.30 million, compared to ₹4.10 million in FY
2024. This shows an overall improvement in liquidity due to strong financing
inflows.
|
Particular |
31-03-2025 |
31-03-2024 |
|
Current Ratio (in times) |
1.63 |
1.38 |
|
Debt Equity Ratio (in times) |
0.39 |
0.61 |
|
Debt Service Coverage Ratio (in times) |
3.37 |
12.98 |
|
Return on Equity Ratio / return on investment (in %) |
9.15% |
54.75% |
|
Inventory Turnover Ratio (in times) |
3.05 |
4.51 |
|
Trade Receivables Ratio (in times) |
4.59 |
7.45 |
|
Trade Payables Turnover Ratio (in times) |
8.20 |
8.37 |
|
Net Capital Turnover Ratio (in times) |
4.17 |
9.64 |
|
Net Profit Ratio (in %) |
3.26% |
9.71% |
|
Return on Capital Employed Ratio (in %) |
11.26% |
41.61% |
|
Return on investments |
0.25% |
0.25% |
Current Ratio (2025: 1.63 | 2024:
1.38)
The current ratio measures the company’s
ability to meet short-term liabilities with short-term assets. It improved from
1.38 to 1.63, indicating a stronger liquidity position in FY 2025. This
means the company now has ₹1.63 in current assets for every ₹1 of current
liabilities — showing better short-term financial stability.
Debt-Equity Ratio (2025: 0.39 |
2024: 0.61)
The debt-equity ratio shows how much the
company relies on borrowed funds compared to its own equity. The ratio dropped
from 0.61 to 0.39, suggesting that the company reduced its debt
dependence and strengthened its capital structure. This is a positive sign of
improved financial health and lower financial risk.
Debt Service Coverage Ratio
(DSCR) (2025: 3.37 | 2024: 12.98)
The DSCR indicates the company’s ability to
repay debt obligations (interest and principal) from its operating profits. It
declined sharply from 12.98 to 3.37, meaning that while the company can
still meet its debt payments, the comfort level has reduced. The lower ratio
reflects weaker earnings compared to the previous year.
Return on Equity (ROE) (2025:
9.15% | 2024: 54.75%)
The ROE shows how efficiently the company
generates profit from shareholders’ funds. It fell significantly from 54.75%
to 9.15%, indicating reduced profitability and lower returns for
shareholders in FY 2025. This decline could be due to lower profits or higher
equity base during the year.
Inventory Turnover Ratio (2025:
3.05 | 2024: 4.51)
This ratio measures how quickly the company sells
its inventory during the year. It dropped from 4.51 to 3.05, meaning the
inventory is moving slower than before. A lower ratio may indicate overstocking
or slower sales, which ties up more funds in inventory.
Trade Receivables Turnover Ratio
(2025: 4.59 | 2024: 7.45)
This ratio shows how efficiently the company
collects money from its customers. It declined from 7.45 to 4.59,
suggesting a delay in collecting payments. This means customers are taking
longer to pay, which can affect the company’s cash flow.
Trade Payables Turnover Ratio
(2025: 8.20 | 2024: 8.37)
The trade payables turnover ratio slightly
decreased from 8.37 to 8.20, indicating the company is taking a little
longer to pay its suppliers. While this can help manage cash flow, it’s
important not to delay payments too much as it can affect supplier
relationships.
Net Capital Turnover Ratio (2025:
4.17 | 2024: 9.64)
This ratio measures how effectively the company
uses its working capital to generate revenue. It declined from 9.64 to 4.17,
which means the company’s efficiency in using its working capital has reduced.
More funds might be tied up in receivables and inventory, slowing down business
turnover.
Net Profit Ratio (2025: 3.26% |
2024: 9.71%)
The net profit ratio indicates how much
profit the company earns from its total revenue. It dropped from 9.71% to
3.26%, reflecting a significant fall in profitability. This shows that
expenses or costs have risen faster than revenue during FY 2025.
Return on Capital Employed (ROCE)
(2025: 11.26% | 2024: 41.61%)
The ROCE measures how effectively the
company uses its capital to generate profits. It declined from 41.61% to
11.26%, indicating lower efficiency in generating returns from total
capital employed. This fall aligns with the overall decrease in profitability
during FY 2025.
Return on Investments (2025:
0.25% | 2024: 0.25%)
The return on investments remained constant
at 0.25%, suggesting that income from investments stayed stable
year-over-year, with minimal contribution to overall profitability.
