Starlite Global Enterprises Limited Annual Report | Balance Sheet

Starlite Global Enterprises India Limited (Starlite Global) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Starlite Global Enterprises India Limited

Starlite Global Enterprises Ltd Balance Sheet (In Lakhs)

Particulars	2023	2022
ASSETS
Non-current assets
Property, plant and equipment	1,245.87	1,467.10
Investment Property	2,148.48	1,944.86
Capital work-in-progress	4,875.83	3,533.01
Financial assets
(i)Investments	-	228.72
Deferred Tax Assets (Net)	-	11.87
Other non-current assets	17.00	16.77
Total Non-Current assets	8,287.18	7,202.33
Current assets
Inventories	16,161.47	1,525.03
Financial assets
(i)Loans	134.02	253.36
(ii)Trade receivables	258.50	539.28
(iii)Cash and cash equivalents	88.70	248.70
(iv)Bank balances other than cash and cash equivalents	3.84	3.94
(v) Investments	79.11	84.64
(vi) Other current financial assets	0.54	0.54
Other current assets	334.41	270.65
Total current assets	2,515.59	2,926.14
Total Assets	10,802.77	10,128.47
EQUITY & LIABILITIES
Equity
Equity share capital	397.28	397.28
Retained Earnings	2,436.11	2,353.61
Other Components of Equity	1,799.09	1,856.24
	4,632.48	4,607.13
Total Equity Attributable to Equity Shareholders of Company (SGEIL)	4,632.48	4,607.13
Total Equity	4,632.48	4,632.48
Liabilities
Non-current liabilities
Financial liabilities
(i) Borrowings	1,020.01	1,197.63
Other Non- Current Liabilities	1,872.68	2,217.53
Total non-current liabilities	2,892.69	3,415.16
Current liabilities
Financial liabilities
(i) Other current financial liabilities	879.08	1,748.35
Current tax liability	71.74	33.47
Other current liabilities	2,323.01	324.35
Deferred Tax Liability (Net)	3.78	-
Total current liabilities	3,277.61	2,106.17
Total Liabilities	6,170.30	5,521.34
Total Equity and Liabilities	10,802.78	10,128.47

Starlite Global Enterprises Ltd Profit & Loss Statement (In Lakhs)

Particulars	2023	2022
Income
Revenue from Operations	1,341.87	1,226.92
Other Income	107.20	73.82
Finance Income	0.36	3.29
I. Total Income	1,449.43	1,304.03
Expenses
Cost of Material Consumed	370.57	394.55
Changes in Inventories Employee benefits expense	- 127.86	- 105.28
Changes in Inventories Employee benefits expense	- 127.86	- 105.28
Operating & Other expenditure	421.76	320.28
Depreciation and amortisation expense	274.93	325.97
Finance costs	84.41	200.19
II. Total expenses	1,279.53	1,346.28
IV. Exceptional Items
V. Profit/(loss) after exceptional items and tax (III+IV)	169.90	-42.25
VI.Tax expenses
(i) Current tax	71.74	33.47
(ii) Deferred tax	15.65	12.02
Income Tax Expense	87.39	45.49
VII. Profit for the year (V-VI)	82.51	-87.74
Other comprehensive income (OCI)	82.51	-87.74
IX. Total Comprehensive income (VII+VIII)	82.51	-87.74
X. Profit for the year Attributable to
X. Total Comprehensive income Attributable to
(i) Owners of Parent Company(SGEIL)	82.51	-87.74
(i) Non Controlling Interests	-	-
	82.51	-87.74
XI. Earnings/ (loss) per share:
(a) Basic	2.08	-2.21
(b) Diluted	2.08	-2.21

Starlite Global Enterprises Ltd Consolidated Cash Flow Statement (In Lakhs)

Particulars	2023	2022
A. Cash flow from operating activities
Profit/(Loss) before tax and exceptional items	169.90	-42.25
Adjustment to reconcile profit/(Loss) before tax to net cash flows:
Depreciation and amortisation expense	274.93	325.97
Finance Income	-0.36	-3.29
Finance Cost	84.41	200.19
Unrealised foreign exchange gain on Foreign Currency Translation Reserve	-57.16	51.75
Dividend Income from Financial Assets measured at FVTPL	-0.90	-0.72
Operating profit before working capital changes	470.81	531.65
Movements in working capital
(Increase)/ Decrease in Inventories	-91.44	-
(Increase)/ Decrease in Loans	119.34	-85.41
(Increase)/ Decrease in Trade receivables	280.79	21.16
(Increase)/ Decrease in other current assets	-63.76	381.71
(Increase)/ Decrease in other non current assets	-0.23	-7.95
Increase/ (Decrease) in Noncurrent Liabilities	-344.85	560.45
Increase/ (Decrease) in Current Liabilities	1,998.66	-56.60
Cash generated from operations	1,898.50	813.36
Direct taxes paid	-33.47	-77.82
Net cash generated from operating activities	2,335.74	1,267.19
B. Cash flows from investing activities
Purchase of property, plant and equipment	-67.65	-51.50
Purchase of Investment Property	-227.89	-241.44
Capital Work in progress	-1,342.82	-177.66
Proceeds from Sale of Assets	38.21	-
(Increase)/ Decrease in Bank balances other than cash and cash equivalents	0.10	34.85
(Increase)/ Decrease in Non Current Investments	228.72	31.18
(Increase)/ Decrease in Current Investments	5.53	28.01
Dividend Income	0.90	0.72
Interest Income	0.36	3.29
Net cash used in investing activities	-1,364.54	-1,372.55
C. Cash flows from financing activities
Proceeds/(Repayment) of long term borrowings	-177.63	-46.08
Movement in current financial Liabilities	-869.27	552.91
Finance Cost	-84.41	-200.19
Net cash generated/(used in) from financing activities	-1,131.30	306.64
Net (decrease)/increase in cash and cash equivalents	-160.00	201.29
Cash and cash equivalents at the beginning of the year	248.70	47.41
Cash and cash equivalents at the end of the year	88.70	248.70
Components of cash and cash equivalents
Cash on hand	1.32	2.16
Balances with banks (in Current accounts)	87.39	246.70
Total cash and cash equivalents	88.70	248.70

In the financial data provided, we can see the cash flow statement for two different periods, ending on March 31, 2023.

1. Operating Profit:

The company 's operating profit before working capital changes was INR 470.81 lakhs in 2023, which is higher than the INR 531.65 lakhs in 2022.

2. Working Capital Changes:

The company experienced positive movements in various working capital components, with increases in trade receivables and decreases in inventories contributing significantly.

- The increase in trade receivables by INR 280.79 lakhs in 2023 compared to a smaller increase of INR 21.16 lakhs in 2022 indicates improved sales and collection efficiency.

- The decrease in inventories by INR 91.44 lakhs in 2023 also positively impacted cash flows, although there was no specific data for 2022.

3. Non-Current Liabilities:

There was a decrease of INR 344.85 lakhs in non-current liabilities in 2023, while in 2022, there was an increase of INR 560.45 lakhs. This contributed positively to cash flows.

On the investing activities front, the company made significant capital investments in 2023, including property, plant and equipment, and investment property, amounting to INR -67.65 lakhs and INR -227.89 lakhs, respectively. This was offset by proceeds from the sale of assets (INR 38.21 lakhs) and an increase in non-current investments (INR 228.72 lakhs). In 2022, the company also invested in these categories, with similar figures, resulting in a net cash use of INR -1,364.54 lakhs in 2023 and INR -1,372.55 lakhs in 2022.

For financing activities, the company generated INR -1,131.30 lakhs in cash in 2023, primarily due to repayments of long-term borrowings (INR -177.63 lakhs) and changes in current financial liabilities (INR -869.27 lakhs). In contrast, the company generated INR 306.64 lakhs in cash from financing activities in 2022, with similar factors in play.

In the data below are the Financial Ratios

Particulars	2023
EBITDA	0.25%
Networth	-0.92%
Debt/Equity Ratio	0.33
Return on Equity	-0.93%
Total Assets	12.66%
Fixed Assets	17.81%
Current Assets	1.21%
Current Liabilities	36.47%
Trade Receivables	86.30%
Trade Payables	0.00%
Current Ratio	0.6

In 2023, the company 's financial performance metrics paint a concerning picture.

1. EBITDA Margin:

The EBITDA margin for the year was a mere 0.25%. This suggests that the company 's earnings before interest, taxes, depreciation, and amortization are only a fraction of its total revenue, which could indicate low profitability or a challenging operating environment.

2. Net Worth:

The company 's net worth experienced a significant decline, with a negative figure of -0.92%. A negative net worth implies that the company 's liabilities exceed its assets, indicating potential financial instability.

3. Debt/Equity Ratio:

The debt-to-equity ratio was 0.33, which suggests that the company had a moderate level of debt compared to its equity. While this ratio doesn 't appear excessively high, it should be assessed in the context of the company 's industry and financial situation.

4. Return on Equity (ROE):

The company reported a negative ROE of -0.93%. This indicates that the company did not generate a positive return for its shareholders in 2023. It is important for investors to closely examine the reasons behind this negative ROE.

5. Total Assets:

Total assets increased by a substantial 12.66% in 2023. This suggests that the company expanded its asset base during the year, potentially through investments in fixed assets and other categories.

6. Fixed Assets:

Fixed assets increased by a notable 17.81%. This may indicate investments in property, plant, and equipment, which could be for capacity expansion or technology upgrades.

7. Current Assets:

Current assets increased by 1.21%. While this increase is relatively modest, it could indicate improved liquidity with a higher level of assets readily convertible into cash.

8. Current Liabilities:

Current liabilities, on the other hand, increased significantly by 36.47%. This substantial increase in short-term obligations could pose challenges for the company 's liquidity and working capital management.

9. Trade Receivables:

Trade receivables surged by 86.30%. This could signify an issue with the company 's credit and collection policies, potentially leading to delayed or uncollectible payments from customers.

10. Trade Payables:

Surprisingly, the trade payables remained at 0.00%, which could suggest that the company did not have any outstanding payables to its suppliers at the end of the year.

11. Current Ratio:

The current ratio, calculated as current assets divided by current liabilities, was a low 0.6. This indicates a potential liquidity issue, as the company 's short-term liabilities outweigh its short-term assets.

Starlite Global Annual Report

Starlite Global Annual Report 2020-21

Download

Starlite Global Enterprises Limited Annual Report, Balance Sheet and Financials.

Starlite Global Enterprises India Limited (Starlite Global) Return Comparision with Primex 40 Index

Starlite Global Enterprises Ltd Balance Sheet (In Lakhs)

Starlite Global Enterprises Ltd Profit & Loss Statement (In Lakhs)

Starlite Global Enterprises Ltd Consolidated Cash Flow Statement (In Lakhs)

In the data below are the Financial Ratios

Starlite Global Annual Report

Starlite Global Annual Report 2020-21

Most Searched Unlisted & Pre IPO Companies Stocks in India

HDB Financial

NSE India

BIRA

Capgemini

Hero Fincorp

Nayara Energy

OTIS Elevator

Sterlite Power

Care Health

PharmEasy

Philips India

Hexaware

Vikram Solar

Reliance GIC

OYO Rooms

BOAT

Tata Capital

SBI AMC

Swiggy Limited

Waree Energies

Rapido

Incred Holdings

News Alert