Sree Maruthi Marine Industries Limited Annual Report and Financials

Sree Maruthi Marine Industries Limited Balance Sheet (Rs In Thousands)

 Sree Maruthi Marine Industries Limited Profit & Loss Statement (Rs In Thousand)

 Sree Maruthi Marine Industries Limited Consolidated Cash Flow Statement (Rs In Thousand

Certainly, here is a summary of the Cash Flow Statement for the years 2023 and 2022:

Cash Flow from Operating Activities:

1. Net Profit after Tax & Extraordinary Items:

In 2023, the net profit after tax and extraordinary items increased to Rs 952 million from Rs 415 million in 2022. This represents the company 's overall profitability.

2. Adjustments:

i) Depreciation:

Depreciation increased from Rs 1,365 million in 2022 to Rs 804 million in 2023, indicating a change in the valuation of fixed assets over time.

ii) Tax Expenses:

Tax expenses rose from Rs 341 million in 2022 to Rs 469 million in 2023, reflecting an increased tax liability.

iii) Provision for Gratuity:

The provision for gratuity changed from a negative Rs 41 million in 2022 to a negative Rs 47 million in 2023, suggesting adjustments in the estimated employee retirement benefits.

3. Operating Profit before Working Capital Changes:

The operating profit before working capital changes increased from Rs 2,080 million in 2022 to Rs 2,178 million in 2023, indicating improved operational efficiency.

4. Working Capital Changes:

(Increase)/Decrease in Inventories:

A substantial increase of Rs 3,379 million in inventories in 2023 contrasts with a decrease of the same amount in 2022.

(Increase)/Decrease in Trade Receivables:

Trade receivables decreased by Rs 5,188 million in 2023, whereas there was a significant increase of Rs 17,401 million in 2022.

(Increase)/Decrease in Current Loans and Advances:

A slight decrease of Rs 83 million in 2023, compared to a decrease of Rs 68 million in 2022.

(Increase)/Decrease in Other Current Assets:

Other current assets increased by Rs 4,730 million in 2023, whereas there was a decrease of Rs 10,067 million in 2022.

(Increase)/Decrease in Non-Current Assets:

Non-current assets decreased by Rs 350 million in 2023, compared to a decrease of Rs 31 million in 2022.

Increase/(Decrease) in Trade Payables:

Trade payables decreased by Rs 250 million in 2023, compared to a decrease of Rs 4,739 million in 2022.

Increase/(Decrease) in Other Financial Liabilities:

Other financial liabilities increased by Rs 331 million in 2023, whereas there was a decrease of Rs 103 million in 2022.

Increase/(Decrease) in Provisions:

Provisions increased by Rs 157 million in 2023, compared to an increase of Rs 67 million in 2022.

5. Cash Flow from Operations:

As a result of the above adjustments and working capital changes, the cash flow from operations significantly increased from Rs 1,160 million in 2022 to Rs 4,904 million in 2023.

6. Taxes Paid:

Taxes paid increased from Rs 341 million in 2022 to Rs 469 million in 2023.

7. Net Cash from Operating Activities:

The net cash from operating activities, calculated by subtracting taxes paid from the cash flow from operations, rose from Rs 819 million in 2022 to Rs 4,435 million in 2023.

Cash Flow from Investing Activities:

1. Purchase of Fixed Asset including Capital Work in Progress:

The company invested Rs 758 million in purchasing fixed assets, including capital work in progress, in 2023, compared to Rs 85 million in 2022.

2. Net Cash from Investing Activities:

The net cash from investing activities, obtained by subtracting the purchase of fixed assets from the cash flow from investing activities, was a negative Rs 758 million in 2023 and negative Rs 85 million in 2022.

Net Increase/(Decrease) in Cash & Cash Equivalents:

The net increase in cash and cash equivalents amounted to Rs 3,677 million in 2023, a substantial increase from Rs 735 million in 2022.

Cash and Cash Equivalents at the Beginning and End of the Period:

Cash and cash equivalents at the beginning of the period increased from Rs 78 million in 2022 to Rs 813 million in 2023. At the end of the period, cash and cash equivalents further increased to Rs 4,490 million in 2023.

Bellow are the Financial Ratios

Here is a summary of the financial and operational metrics for Sree Maruthi Marine Industries Limited for the years 2023 and 2022:

Financial Metrics:

1. Trade Receivables:

2023: Rs 3.72 billion

2022: Rs 1.14 billion

The trade receivables have significantly increased from 2022 to 2023, which might indicate a higher amount of sales on credit. It 's essential for the company to monitor and manage its receivables effectively to ensure timely cash flows.

2. Inventory Turnover Ratio:

2023: 12.99

2022: 4.72

The inventory turnover ratio has improved from 4.72 in 2022 to 12.99 in 2023. This signifies that the company is selling and replacing its inventory at a faster rate, which is generally positive for liquidity and efficiency.

3. Current Ratio:

2023: 13.12

2022: 14.77

Both years have a high current ratio, indicating that the company has more than enough short-term assets to cover its short-term liabilities. While a high current ratio suggests good liquidity, it 's essential to ensure that excessive liquidity is not impacting returns.

Operational and Profitability Ratios:

4. Return on Equity (ROE) Ratio:

2023: 0.04 (4%)

2022: 0.02 (2%)

The ROE has increased from 2% in 2022 to 4% in 2023, indicating improved profitability in relation to shareholders ' equity.

5. Net Profit Margin (%):

2023: 0.03 (3%)

2022: 0.03 (3%)

The net profit margin has remained stable at 3%, indicating that the company is able to retain 3% of its total revenue as profit.

6. Return on Capital Employed (ROCE):

2023: 0.06 (6%)

2022: 0.03 (3%)

The ROCE has increased from 3% in 2022 to 6% in 2023, reflecting better returns on the capital employed in the business.

7. Net Capital Turnover Ratio:

2023: 1.57

2022: 0.86

The net capital turnover ratio has improved, indicating that the company is generating more revenue for every unit of capital employed.

Trade Payables Turnover Ratio:

8. Trade Payables Turnover Ratio:

2023: 64.13

2022: 4.08

The trade payables turnover ratio has increased significantly, suggesting that the company is paying its suppliers more efficiently in 2023 compared to 2022