Technical Associates Infrapower Annual Reports & Financials

TECHNICAL ASSOCIATES INFRAPOWER Consolidated Balance Sheet (In Rs.Lakh)

Particulars	2025	2024
ASSETS
Non-current assets
Financial Assets
(a) Investments	26,624.13	28,834.55
Deferred Tax Assets	1.21	4.92
Total Non -Current Assets	26,625.35	28,839.47
Current assets
Financial Assets
(a) Cash and cash equivalents	28.16	196.97
(b) Loans & Advances	9,641.57	4,940.40
(c) Other Financial Assets	914.29	552.00
Other Current Assets(Net)	-	2.41
Current Tax Assets(net)	88.54	42.71
Total Current Assets	10,672.56	5,734.48
TOTAL ASSETS	37,297.91	34,573.95
EQUITY AND LIABILITIES
EQUITY
(a)    Equity Share capital	300.00	300.00
(b)    Other Equity	24,544.17	22,725.46
Total Equity	24,844.17	23,025.46
LIABILITIES
Borrowings	12,139.97	11,427.85
Other Financial Liabilities	289.25	109.82
Other Current Liabilities	24.36	10.66
Current Tax Liabilities	0.17	0.16
Total Liabilities	12,453.74	11,548.50
TOTAL EQUITY & LIABILITIES	37,297.91	34,573.95

TECHNICAL ASSOCIATES INFRAPOWER Consolidated PROFIT AND LOSS (In Rs.Lakh)

Particulars	2025	2024
Income:
Revenue from Operation	826.21	584.49
Other income	2,518.37	1,128.55
Total Income	3,344.58	1,713.04
Expenses:
Employee benefits expenses	3.36	5.97
Depreciation and amortization expense	0.15	0.15
Financial Costs	1,258.64	865.39
Other expenses	779.56	7,048.64
Total Expenses	2,041.72	7,920.15
Profit before exceptionl items and tax	1,302.86	(6,207.11)
Exceptionl items
Profit before and tax Tax expenses:	1,302.86	(6,207.11)
(1)  Current tax	4.42	16.55
(2)  Income tax adjustment	0.17	11.52
(3)  Deferred tax	3.70	(13.25)
Profit for the year	1,294.56	(6,221.93)
Other Comprehensive Income:
(1) Items that will not be reclassified to Statement of Profit and Loss Gain/(loss) on fair valuation of equity instrument	524.14	233.52
(2) Income Tax relating to item that will not be reclassified to Statement of Profit and Loss		(1.51)
Total Comprehensive Income for the Year	1,818.71	(5,989.92)
Earnings per equity share:
(1)  Basic	43.15	(207.40)
(2)  Diluted	43.15	(207.40)

 

TECHNICAL ASSOCIATES INFRAPOWER Consolidated Cash Flow Statement (In Rs. Lakhs)

PARTICULARS	2025	2024
A. CASH FLOW FROM OPERATING ACTIVITIES
Net Profit / (Loss) Before Tax	1,302.86	(6,207.11)
ADJUSTMENT FOR:
Provision for Statutory Assets	0.00	(0.05)
Dividend Received	(25.39)	(25.39)
Interest Received	(826.21)	(584.49)
Profit on sale of investments	(0.27)	(0.04)
Loan written off	-	724.07
Loss on fair value of investments	(20.28)	56.93
Interest on IT refund	(1.71)	(2.12)
Investments written off	-	30.00
Profit/loss from Partnership Firm	(2,470.72)	(1,100.95)
Interest Paid	1,258.64	865.39
OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES	(783.07)	(6,243.76)
ADJUSTMENT FOR:
Trade And Other Receivable
Decrease in other financial assets	(362.29)	(552.00)
Decrease in Loans & Advances	(4,701.17)	1,890.37
Other Current Assets	2.41	2.41
Decrease in other financial liabilities/other current liabilities	193.13	55.22
CASH GENERATED FROM OPERATIONS	(5,650.99)	(4,847.76)
CASH FLOW BEFORE EXTRA ORDINARY ITEMS
NET CASH FROM OPERATING ACTIVITIES BEFORE TAXES  PAID	(5,650.99)	(4,847.76)
Taxes Paid During The Year	(88.34)	(50.94)
Income tax refund	39.61	50.94
NET CASH FROM OPERATING ACTIVITIES	(5,699.72)	(4,847.77)
B. CASH FLOW FROM INVESTING ACTIVITIES
Purchase of investments	(32.00)	-
Sale/withdrawal of investments	5,257.84	488.31
Interest Received	826.21	584.49
Dividend Received	25.39	25.39
Movements of Loans & Advances	-	-
NET CASH USED IN INVESTING ACTIVITIES	6,077.44	1,098.19
C. CASH FLOW FROM FINANCING ACTIVITIES
Proceeds/(repayment) from Long Term Borrowings	712.11	4,776.95
Interest on Loan	(1,258.64)	(865.39)
NET CASH USED IN FINANCING ACTIVITIES	(546.53)	3,911.57
D.NET (DECREASE) IN CASH & CASH EQUIVALENT	(168.81)	161.99
NET INCREASED / (DECREASED) IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVAULENTS AS AT 1-04-2024(01-04-2023)	196.97	34.98
LESS:CASH AND CASH EQUIVALENTS AS AT 31-03-2025 (31-03-2024)	28.16	196.97
	(168.81)	161.99

Summary of TECHNICAL ASSOCIATES INFRAPOWER 's cash flow statement

(Based on Cash Flow Statement for FY 2024–25 and FY 2023–24)

The cash flow position of Technical Associates Infrapower Limited reflects continued pressure on operating activities, while investing inflows and financing movements played a significant role in overall liquidity management during the year.

Operating Activities:
The Company reported a net profit before tax of ₹1,302.86 in FY 2025 as against a loss of ₹6,207.11 in FY 2024. However, despite the improvement in accounting profitability, cash flows from operations remained negative. Operating profit before working capital changes stood at ₹(783.07), indicating that non-cash income such as interest received and profit from partnership firms significantly influenced reported earnings.

Major working capital movements, particularly a decrease in loans & advances of ₹4,701.17 and changes in financial assets and liabilities, led to a cash outflow from operations. Consequently, net cash used in operating activities amounted to ₹(5,699.72) in FY 2025 compared to ₹(4,847.77) in FY 2024, reflecting continued strain on core operational liquidity.

Investing Activities:
Investing activities generated strong positive cash flows during the year. The Company realized substantial inflows from sale/withdrawal of investments amounting to ₹5,257.84 along with interest income and dividend receipts. As a result, net cash from investing activities stood at ₹6,077.44 in FY 2025, significantly higher than ₹1,098.19 in FY 2024. This indicates reliance on investment liquidation and income from financial assets to support liquidity.

Financing Activities:
Financing activities recorded a net cash outflow of ₹(546.53) in FY 2025 compared to a net inflow of ₹3,911.57 in FY 2024. Although the Company raised ₹712.11 through long-term borrowings, the impact was offset by interest payments of ₹1,258.64. The previous year’s higher inflow was primarily due to significant borrowings, which did not recur at the same level in the current year.

Net Change in Cash Position:
Overall, cash and cash equivalents decreased by ₹168.81 during FY 2025, compared to an increase of ₹161.99 in FY 2024. The closing cash balance declined to ₹28.16 from ₹196.97 in the previous year, indicating tightening liquidity despite strong investing inflows.

Overall Interpretation:
The Company’s cash flow profile highlights dependence on investing income and asset withdrawals rather than internally generated operating cash. Persistent negative operating cash flows suggest that core business operations are yet to generate sustainable liquidity. While investment realizations supported short-term financial stability, the decline in cash balances and reduced financing inflows point toward the need for strengthening operational efficiency and cash generation capacity to ensure long-term financial sustainability.

Source: Cash Flow Statement of Technical Associates Infrapower Limited Annual Report for  FY25 

TECHNICAL ASSOCIATES INFRAPOWER Key Financial Ratios

Key Metrics	2025	2024
Current ratio	0.86	0.50
Debt Equity Ratio	0.49	0.50
Debt Service Coverage ratio	2.04	(6.17)
Return on Equity Ratio	5.21%	-27.02%
Net Capital Turnover ratios	-188%	-29.46%
Net Profit ratio	38.71%	-363.21%
Return on Capital Employed	10.70%	-20.53%

Key Financial Ratios Analysis & Interpretation (Ratio-wise)

1. Current Ratio
The current ratio improved from 0.50 in 2024 to 0.86 in 2025, indicating better short-term liquidity and an improved ability to meet current obligations. However, the ratio still remains below the ideal benchmark of 1, suggesting that working capital management needs further strengthening.

2. Debt–Equity Ratio
The debt–equity ratio slightly declined from 0.50 in 2024 to 0.49 in 2025, reflecting a stable capital structure with marginally reduced reliance on borrowed funds. This indicates balanced financial leverage and controlled financial risk.

3. Debt Service Coverage Ratio (DSCR)
The DSCR improved significantly from negative (6.17) in 2024 to 2.04 in 2025, showing that the company has regained its capacity to service debt obligations through operating earnings. This reflects a major turnaround in financial performance and repayment capability.

4. Return on Equity (ROE)
ROE increased from –27.02% in 2024 to 5.21% in 2025, indicating that the company moved from losses to generating positive returns for shareholders. This improvement reflects better profitability and efficient utilization of equity funds.

5. Net Capital Turnover Ratio
The ratio remained negative, moving from –29.46% in 2024 to –188% in 2025, indicating inefficiency in utilizing working capital for revenue generation. The sharp decline suggests operational or working capital challenges that require corrective measures.

6. Net Profit Ratio
The company recorded a significant recovery from –363.21% in 2024 to 38.71% in 2025, reflecting a major turnaround from heavy losses to strong profitability. This indicates improved cost control, higher revenue realization, and enhanced operational efficiency.

7. Return on Capital Employed (ROCE)
ROCE improved from –20.53% in 2024 to 10.70% in 2025, showing better utilization of overall capital and improved operational performance. The shift from negative to positive indicates strengthened financial health and efficiency in capital deployment.

Overall Interpretation:
The company has shown a strong financial turnaround in 2025 with improvements in profitability, debt servicing capacity, and returns. However, liquidity remains below the ideal level and the negative net capital turnover highlights the need for better working capital management and operational efficiency going forward.