Sree Satyanarayana Annual Reports, Balance Sheet and Financials

Sree Satyanarayana Spinning mills Limited Balance Sheet (Rs in Lakhs)

Sree Satyanarayana Spinning mills Limited Profit & Loss Statement (Rs in Lakhs)

Sree Satyanarayana Spinning mills Limited Consolidated Cash Flow Statement (Rs in Lakhs)

Here is the analysis of cash flow for year March 2023 and 2022:

Profit before Tax from Continuing Operations

2023: -736.34

2022: 2,547.49

In 2023, the company recorded a significant loss before tax of -736.34, a stark contrast to the profit of 2,547.49 in 2022. This indicates a substantial decline in profitability from continuing operations.

Adjustments

Interest Expense

2023: 3.47

2022: 6.22

The interest expense decreased from 6.22 in 2022 to 3.47 in 2023, indicating lower borrowing costs or reduced debt levels.

Interest Income

2023: -5.16

2022: -4.43

Interest incomes slightly increased from -4.43 in 2022 to -5.16 in 2023.

Dividend Income

2023: -98.68

2022: -43.88

Dividend incomes increased significantly, from -43.88 in 2022 to -98.68 in 2023, showing higher returns from investments.

Depreciation/Amortization on Continuing Operations

2023: 355.64

2022: 344.52

Depreciation and amortization expenses rose slightly, from 344.52 in 2022 to 355.64 in 2023, reflecting increased use or acquisition of depreciable assets.

Loss/[Profit] on Sale of Fixed Assets

2023: -10.19

2022: -86.07

The company recorded less profit on the sale of fixed assets in 2023 (-10.19) compared to 2022 (-86.07).

Remeasurement of Defined Benefit Plans

2023: 1.62

2022: 20.55

Costs associated with remeasuring defined benefit plans decreased from 20.55 in 2022 to 1.62 in 2023.

Operating Profit before Working Capital Changes

2023: -489.64

2022: 2,784.39

Operating profit before changes in working capital turned negative in 2023, down from a substantial positive figure in 2022.

Movements in Working Capital

Trade Payables

2023: 364.76

2022: 374.69

There was a slight decrease in the increase of trade payables from 374.69 in 2022 to 364.76 in 2023.

Non-Current Provisions

2023: 26.53

2022: -2.61

Non-current provisions saw an increase in 2023 compared to a decrease in 2022.

Short-Term Provisions

2023: 0.97

2022: -54.35

Short-term provisions increased slightly in 2023 after a decrease in 2022.

Other Liabilities (Current)

2023: -0.39

2022: -1.15

Other current liabilities decreased slightly in both years, but less so in 2023.

Other Financial Liabilities (Current)

2023: -88.53

2022: 144.14

Other current financial liabilities decreased in 2023, following an increase in 2022.

Other Financial Assets (Non-Current)

2023: -19.64

2022:

Not available for comparison. There was a decrease in non-current financial assets in 2023.

Trade Receivables

2023: 822.17

2022: -1,100.38

Trade receivables decreased in 2023, compared to an increase in 2022.

Inventories

2023: -1,264.36

2022: 34.74

Inventories increased significantly in 2023, compared to a small increase in 2022.

Other Assets

2023: -67.21

2022: -102.21

Other assets decreased less in 2023 compared to 2022.

Current Investments

2023: 1,385.05

2022: -1,535.00

Current investments saw a significant increase in 2023 after a decrease in 2022.

Margin Money Deposits

2023: -92

2022: 0.47

Margin money deposits decreased in 2023 compared to a slight increase in 2022.

Cash Generated from Operations

2023 and 2022: Not explicitly provided. The net result from operating activities before taxes and adjustments is not explicitly provided.

Direct Taxes Paid (Net of Refunds)

2023: -35.24

2022: -658.47

Direct taxes paid decreased significantly in 2023.

Net Cash Flow from Operating Activities

2023: 542.47

2022: -115.73

The net cash flow from operating activities turned positive in 2023, a significant improvement from the negative cash flow in 2022.

Cash Flows from Investing Activities

Purchase of Fixed Assets

2023: -120.34

2022: -226.42

Purchases of fixed assets decreased in 2023.

Proceeds from Sale of Fixed Assets

2023: 17.48

2022: 171.36

Proceeds from asset sales were lower in 2023.

Purchase of Current Investments

2023: Not applicable

2022: -150

There were no purchases of current investments in 2023.

Interest Received

2023: 3.59

2022: 5.93

Interest received decreased slightly in 2023.

Dividends Received from Long-Term Investments

2023 and 2022: Not provided.

No specific details on dividends received from long-term investments for both years.

Net Cash Flow from Investing Activities

2023: -99.27

2022: -199.13

Net cash flow from investing activities was negative but improved in 2023 compared to 2022.

Cash Flows from Financing Activities

Proceeds from Borrowings

2023: -378.29

2022: 378.29

The Company had significant borrowings in 2022 but reduced them in 2023.

Interest Paid

2023: -3.47

2022: -0.86

Interest payments increased in 2023.

Dividends Paid

2023: -45.26

2022: -85.62

Dividends paid were lower in 2023.

Net Cash Flow from Financing Activities

2023: -427.03

2022: 291.81 Net cash flow from financing activities was negative in 2023, compared to a positive flow in 2022.

Net Increase/[Decrease] in Cash and Cash Equivalents

2023: 16.17

2022: -23.05

There was a positive increase in cash and cash equivalents in 2023, reversing the negative trend from 2022.

Cash and Cash Equivalents at the Beginning of the Year

2023: 13.91

2022: 36.95

Cash and cash equivalents at the start of 2023 were lower compared to 2022.

Cash and Cash Equivalents at the End of the Year

2023: 30.08

2022: 13.91

The Company ended 2023 with higher cash and cash equivalents than in 2022.

Components of Cash and Cash Equivalents

Cash on Hand

2023: 0.09

2022: 0.18

Cash on hand decreased slightly in 2023.

With Banks

2023: 15.67

2022: 1.4

Bank balances increased significantly in 2023.

Unpaid Dividend Accounts

2023: 14.32

2022: 12.33

Unpaid dividend accounts increased slightly in 2023.

Financial Ratios of Sree Satyanarayana Spinning mills Limited 

Here is the summary of financial and operational metrics for Sree Satyanarayana Spinning mills Limited for year 2023 & 2022:

Liquidity Ratios

Current Ratio

2023: 3.37

2022: 3.63

 The current ratio measures the company 's ability to pay short-term obligations with its current assets. A ratio above 1 indicates good liquidity. While still healthy, the slight decrease from 3.63 in 2022 to 3.37 in 2023 suggests a marginal reduction in liquidity.

Solvency Ratios

Debt-Equity Ratio

2023: Not provided

2022: 0.05

 The debt-equity ratio for 2023 is not provided, but in 2022, it was very low (0.05), indicating minimal reliance on debt financing.

Debt Service Coverage Ratio

2023: -56.06

2022: 5.6

This ratio indicates the company 's ability to service its debt. A negative ratio of -56.06 in 2023 suggests severe difficulties in covering debt obligations, a drastic decline from 5.6 in 2022.

Profitability Ratios

Return on Equity (ROE)

2023: -8%

2022: 30%

ROE measures the return generated on shareholders ' equity. The negative ROE of -8% in 2023 indicates a loss, a significant decline from a robust 30% in 2022.

Net Profit Ratio

2023: -10%

2022: 20%

This ratio shows the percentage of profit relative to revenue. A negative ratio of -10% in 2023 signifies the company incurred losses, contrasting sharply with the 20% profit margin in 2022.

Return on Capital Employed (ROCE)

2023: -12%

2022: 32%

ROCE assesses the profitability and efficiency of capital use. The negative ROCE of -12% in 2023 indicates inefficiency and loss, a sharp decline from the positive 32% in 2022.

Return on Investment (ROI)

2023: -100%

2022: 10% ROI measures the return on total investments. The drastic drop to -100% in 2023 implies complete loss on investments, compared to a 10% return in 2022.

Activity Ratios

Inventory Turnover Ratio

2023: 2.71

2022: 6.62

 This ratio indicates how often inventory is sold and replaced over a period. The decrease from 6.62 in 2022 to 2.71 in 2023 suggests slower inventory movement and potential overstocking or reduced sales.

Trade Receivables Turnover Ratio

2023: 5.13

2022: 10.05

This ratio shows how efficiently receivables are collected. The drop from 10.05 in 2022 to 5.13 in 2023 indicates slower collection of receivables.

Trade Payables Turnover Ratio

2023: 5.75

2022: 8.04

This ratio measures the rate at which the company pays off its suppliers. The decrease from 8.04 in 2022 to 5.75 in 2023 suggests slower payment to suppliers.

Net Capital Turnover Ratio

2023: 1.81

2022: 2.54

This ratio evaluates how effectively the company uses its working capital to generate revenue. The reduction from 2.54 in 2022 to 1.81 in 2023 indicates less efficient use of working capital.

Dividend History

Sree Satyanarayana Spinning mills Limited Recent Financial Performance:

Dividend per Share: The specific dividend per share figure for March 2023 is Rs 4.50 and 2022 is also Rs 4.50 provided; Dividend per share represents the portion of a company 's earnings that is distributed to shareholders in the form of dividends. A higher dividend per share may indicate that the company is sharing more of its profits with shareholders.

Retained Earnings: Retained earnings for 2023 amounted to Rs. 2580.18 Lakhs, while in 2022, they were Rs. 3169.76 Lakhs. Retained earnings represent the portion of a company 's profits that is reinvested in the business rather than distributed as dividends. An increase in retained earnings suggests that the company has retained more of its profits for reinvestment or future growth.

To provide a more comprehensive analysis, it would be necessary to consider additional financial metrics such as revenue, net profit, assets, liabilities, and cash flows. Additionally, an analysis of trends over multiple years and a comparison to industry benchmarks and competitors would help in assessing the company 's financial health and performance.