Sterlite Grid 5 Annual Reports, Balance Sheet and Financials

Sterlite PowerGrid 5 Limited Balance Sheet (Rs in Millions)

 Sterlite PowerGrid 5 Limited Profit & Loss Statement (Rs in Millions)

Sterlite PowerGrid 5 Limited Consolidated Cash Flow Statement (Rs in Millions)

Here is a summary of the Cash Flow Statement for the years 2023 and 2022:

Net Profit/(Loss) as per Statement: The net loss for the year ended March 31, 2023, was Rs. 110.77 million, slightly lower than the net loss of Rs. 115.7 million for the previous year. This represents a continuing trend of losses for the company.

Adjustment for Taxation: A minor adjustment for taxation amounting to Rs. 0.34 million in 2023 and Rs. 0.15 million in 2022 was made, impacting the total profit before tax.

Profit Before Tax: After incorporating the adjustment for taxation, the profit before tax was negative, showing a pre-tax loss of Rs. 110.43 million in 2023, compared to a pre-tax loss of Rs. 115.54 million in 2022.

Non-Cash Adjustments:

Finance Cost: The company incurred a significant finance cost of Rs. 108.1 million in 2023, up from Rs. 94.38 million in 2022. This suggests an increase in borrowing costs or interest expenses.

Loss on Sale of Investment: There was no reported loss on the sale of investments in 2023, whereas in 2022, the company incurred a loss of Rs. 18.66 million.

Finance Income: The finance income was negligible in 2023, while in 2022, it contributed Rs. 1.23 million.

Operating Profit Before Working Capital Changes: Adjusting for the non-cash items, the operating profit before considering working capital stood at a loss of Rs. 2.33 million in 2023, slightly better than the loss of Rs. 3.74 million in 2022.

Movements in Working Capital:

Decrease in Trade Payables: There was a decrease in trade payables amounting to Rs. 0.42 million in 2023, similar to the minimal decrease of Rs. 0.02 million in 2022.

Increase in Other Current Asset: In 2023, the increase in other current assets was Rs. 0.13 million, compared to no such change in 2022.

Decrease in Other Current Liabilities: The decrease in other current liabilities was Rs. 0.02 million in 2023, lower than the significant decrease of Rs. 4.94 million in 2022.

Changes in Working Capital: Overall, changes in working capital resulted in a net outflow of Rs. 0.44 million in 2023, compared to a more substantial outflow of Rs. 5.09 million in 2022.

Cash Flow from Operations: The cash flow from operations, after accounting for changes in working capital, was negative at Rs. 2.77 million in 2023, showing a slight improvement from Rs. 8.83 million in 2022.

Income Tax Refund/(Paid): The net income tax paid was Rs. 0.29 million in 2023, contrasting with a refund of Rs. 7.79 million in 2022.

Net Cash from Operating Activities: The net cash flow from operating activities was negative at Rs. 3.06 million in 2023, compared to a negative cash flow of Rs. 1.04 million in 2022.

Cash Flow from Investing Activities:

Acquisition of Investment: There was no acquisition of investments in 2023, while 2022 saw an outflow of Rs. 570.37 million.

Proceeds from Sale of Investment: The company did not generate any proceeds from the sale of investments in 2023, whereas 2022 had significant proceeds of Rs. 1,105.14 million.

Finance Income: No finance income was reported in 2023, while Rs. 1.23 million was earned in 2022.

Net Cash from Investing: No significant net cash flow was reported from investing activities in 2023, compared to a positive inflow of Rs. 536.01 million in 2022.

Cash Flow from Financing Activities:

Proceeds from Borrowings: In 2023, the company secured borrowings worth Rs. 2.84 million, which was significantly lower than the Rs. 602.51 million in 2022.

Repayment of Borrowings: No repayment of borrowings was reported in 2023, whereas 2022 saw a substantial outflow of Rs. 1,157.64 million.

Finance Cost: No finance cost outflow was shown for 2023, while a minimal amount of Rs. 0.09 million was recorded in 2022.

Net Cash Flow from Financing: The net cash inflow from financing activities was Rs. 2.84 million in 2023, as opposed to a net outflow of Rs. 555.23 million in 2022.

Net Increase/(Decrease) in Cash and Cash Equivalents: The combined effect of operating, investing, and financing activities led to a net decrease of Rs. 0.22 million in cash and cash equivalents in 2023, smaller than the decrease of Rs. 20.26 million in 2022.

Cash and Cash Equivalents at Beginning and End of the Year: The cash balance at the beginning of 2023 was Rs. 0.36 million, which decreased to Rs. 0.14 million by the end of the year. For 2022, the beginning cash balance was Rs. 20.62 million, which dropped to Rs. 0.36 million by year-end.