Surana Industries Limited Annual Report and Financials

Particulars

2017

2016

ASSETS

Non-current assets

(a) Property, Plant and Equipment

73,083.91

77,509.32

(b) Goodwill

3,700.77

1,074.93

(c) Other Intangible assets

1,643.33

1,523.20

(d) Other non-current assets

16,198.31

24,366.55

Total Non current assets (A)

94,626.32

104,474.00

Current assets

(a) Assets reposed by lenders

125,766.86

125,766.86

(b) Inventories

15,262.84

17,633.75

(c) Financial Assets

(i) Trade receivables

16,987.37

29,504.07

(ii) Cash and cash equivalents

36.67

168.71

(d) Other current assets

2,350.09

2,343.12

Total Current assets (B)

160,403.83

175,416.52

Total Assets

255030.15

279,890.52

EQUITY AND LIABILITIES

EQUITY

(a) Equity Share capital

5,091.06

4,451.91

(b) Other Equity

(i) Equity attributable to shareholders of the company

-172,940.82

-82,970.47

Non Controlling interest

639.34

590.33

Total Equity (C)

-167,210.41

-77,928.23

LIABILITIES

Non-current liabilities

(a) Financial Liabilities

(i) Borrowings

1,515.31

75,229.90

(b) Provisions

1,093.37

1,128.81

Current liabilities

(a) Financial Liabilities

(i) Borrowings

71,245.28

51,043.31

(ii) Trade payables

27,427.77

28,255.52

(iii) Other financial liabilities

308,526.31

199,697.63

(b) Deferred tax liability

1,388.53

1,388.53

(c) Other current liabilities

3,161.42

796.58

(d) Provisions

7,882.57

278.47

Total Liabilities (D)

422,240.56

357,818.75

Total Equity and Liabilities (C+D)

255,030.15

279,890.52

Particulars

2017

2016

REVENUE

(a) Revenue from operations (Gross)

6,841.35

61,954.08

(b) Other income

307.57

1,125.00

Total income

7,148.92

63,079.08

Expenses

(a) Cost of materials consumed

1,776.72

10,710.82

(b) Purchases of Stock in trade (Traded goods)

3,728.16

51,961.64

(c) Changes in inventories of finished goods, work in progress and stock-in-trade

6,102.03

9,700.12

(d) Employee benefits expense

595.94

687.49

(e) Finance Costs

31,728.89

16,851.20

(f) Depreciation and amortization expense

5,145.65

5,408.01

(g) Excise duty

517.47

1,792.66

(h) Other expenses

13,505.45

6,783.45

Total expenses

63,100.31

103895.4

Profit /Loss before exceptional items and tax

-55,951.39

-40,816.32

Exceptional items

43,951.79

80,938.18

Profit/(loss) before tax

-99,903.18

-121,754.50

Net Profit/(loss) for the period

-99,903.18

-121,754.50

Total comprehensive income

-99,903.18

-121,754.50

Net Profit/(loss) attributable

-99,900.82

-121,751.58

Shareholders of the company

-2.92

-2.92

Non controlling interests

-99,903.18

-121,754.50

Earnings per Share (for continuing operation)

(i) Basic

-196.23

-273.49

(ii) Diluted

-196.23

-273.49

Particulars

2017

2016

A. Cash flow from operating activities

Loss for the year before exceptional items and tax

-55,951.39

-40,816.35

Add: Exceptional Items

Interest capitalized relating to CWIP charged off

68,475.79

Pre-operating expenditure capitalized relating to CWIP charged off

-

7,657.45

Inventory relating to CWIP charged off

5,234.68

Impairment of expenditure incurred on land relating to CWIP charged off

-11,672.40

7,800.00

Reversal of recompense interest

-37,894.75

-8,229.74

Provision reversal on account of consolidation

5,615.36

Loss for the year before tax and after exceptional item

-99,303.18

-121,754.53

Adjustments for:

Depreciation expense

5,163.62

5,408.01

Finance costs

31,603.65

16,559.57

Interest income

-53.73

Dividend income

-0.12

Liabilities no longer required written back

-82.49

-771.59

Provision for doubtful trade receivables, loans and advances

3,373.48

Trade receivables written off

-12,087.43

68.73

Provision for contingencies

-29.49

Profit on sale of asset

-0.24

Provision for employee benefits

-29.88

Interest capitalized charged off

37,234.53

60,687.22

Interest capitalized relating to CWIP charged off

7788.56

Pre-operating expenditure capitalized relating to CWIP charged off

7657.46

Impairment of fixed assets

6057.04

Loss on fixed assets due to vardah cyclone Prior period expenses

21.09

Prior period expenses

17.4

Inventory relating to CWIP charged off

5,234.68

Impairment of expenditure incurred on land relating to CWIP charged off

7,800.00

Reversal of recompense interest

655.5

-8,229.74

Loss on sale / write off of assets

7.86

Operating loss before working capital changes

-7,145.64

-16,224.55

Changes in working capital:

Adjustments for (increase) / decrease in operating assets:

Inventories

6,247.03

14,741.60

Trade receivables

334.11

1,169.72

Short term loans and advances

-25.07

6,138.87

Long term loans and advances

115.13

-5,951.52

Adjustments for increase / (decrease) in operating liabilities:

Trade payables

-855.1

-7,671.22

Short Term Provisions

404.92

90.3

Other current liabilities

-6,213.16

220.71

Other long term liabilities

-5,877.64

Long term provisions

-35.44

-19.23

Cash generated from operations

-7,173.22

-13,382.97

Net income tax paid

4.95

-15.21

Net cash flow used in operating activities (A)

-7,168.28

-13,398.18

B. Cash flow from investing activities

Capital expenditure on fixed assets, including capital advances

4,810.01

Proceeds from sale of fixed assets / Capital Work in Progress

51.24

816.03

Purchase of non current investment

3.09

Bank balances not considered as Cash and cash equivalents matured during the year

-0.02

Movement in Bank deposits (See Note 1 below)

81.32

736.48

Realization from advances

29.4

Interest received from banks

0.01

53.73

Dividend received from investments

0.12

Net cash flow from / (used in) investing activities (B)

165.07

6416.4

C. Cash flow from financing activities

Proceeds from short-term borrowings

-24.48

830

Proceeds from other long-term borrowings

Repayment of long-term borrowings

-2,013.53

Net increase in working capital borrowings

9,012.40

9,588.36

Dividend paid

-1.88

Proceeds / (Repayment) from Bank Borrowings

-252.41

Finance costs (includes borrowing costs capitalized )

-21.9

-5,089.63

Net cash flow from financing activities (C)

6,952.49

5,074.43

Net increase / (decrease) in Cash and cash equivalents (A+B+C)

-50.76

-1907.35

Cash and cash equivalents at the beginning of the year

71.08

1978.43

Cash and cash equivalents at the end of the year Notes

20.32

71.08

1. Reconciliation of Cash and cash equivalents with the Balance Sheet:

Cash and cash equivalents (Refer Note 8)

154.44

Less : Bank balances not considered as Cash and cash equivalents as defined in AS 3 Cash Flow Statements (Refer Note 8)

88.34

Cash and cash equivalents at the end of the year

20.32

66.1

2. Disclosure of non cash adjustments:

(a) Conversion of interest into borrowings

2475.67

(b) Conversion of borrowings to capital

4654.35

(c) Capitalization of interest

(d) Purchase of investments without payment of consideration in cash

3500

(e) Transfer of stocks from capital work in progress to inventory (net of provision)

3037.6