The Hooghly Mills Annual Report | Balance Sheet

The Hooghly Mills Company Ltd (Hooghly Mills) Return Comparision with Primex 40 Index

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The Hooghly Mills Company Ltd

The Hooghly Mills Company Limited Balance Sheet (In Thousand)

Particulars	2022	2021
ASSETS
Non-Current Assets
Property, Plant and Equipment	1,305,895.29	1,312,658.51
Capital work-in-progress	1,235.39	1,235.39
Investment Property	3,919.94	3,919.94
Financial Assets
Investment	138,165.18	134,559.36
Loans
Other financial assets	33,002.97	34,427.46
Other non-current assets	4.44	4.44
Goodwill on Consolidation	1,814.99	1,814.99
Total Non-Current Assets	1,484,038.00	1,488,620.08
Current Assets
Inventories	168,035.18	437,531.22
Financial Assets
Trade receivables	106,357.67	97,222.51
Cash and cash equivalents	31,921.37	29,677.10
Other financial assets	5,305.34	4,428.29
Current Tax Assets	13,658.04	6,452.85
Other current assets	16,087.88	17,523.84
Total Current Assets	341,365.48	592,835.80
Total Assets	1,825,403.68	2,081,455.88
EQUITY AND LIABILITIES
Equity
Equity Share Capital	79,380.00	79,380.00
Other Equity	1,269,389.00	1,223,844.18
Equity attribute to owners of the Company	1,348,769.23	1,303,224.18
Non Controlling Interest	8,380.07	8,339.79
Total Equity	1,357,149.30	1,311,563.97
LIABILITIES
Non-Current Liabilities
Financial Liabilities
Deferred Tax Liabilities	16,020.05	1,221.79
Total Non-Current Liabilities	16,020.05	1,221.79
Current Liabilities
Financial Liabilities
Borrowings	286,352.95	538,175.37
Trade and other payables
Dues to Micro Enterprises and Small Enterprises
Dues to other than Micro Enterprises and Small Enterprises	111,782.80	153,500.71
Other current liabilities	17,472.52	19,372.78
Total Currrent Liabilities	452,234.33	768,670.12
Total Liabilities	468,254.38	769,891.91
Total Equity Liabilities	1,825,403.68	2,081,455.88

The Hooghly Mills Company Limited Profit & Loss Statement (In Thousand)

Particulars	2022	2021
Revenue from operations	1,417,716.14	1,018,104.35
Other Income	22,262.81	18,117.40
Total Income	1,439,978.95	1,036,221.75
Expenses
Cost of materials consumed	785,574.67	617,856.35
Changes in inventories of work-in-progress, stock-in-trade and finished goods	134,218.37	(58,055.67)
Employee benefit expense	274,310.23	285,987.19
Depreciation and amortisation expenses	10,902.68	13,587.38
Finance costs	35,152.41	28,453.57
Other expenses	143,042.62	152,395.71
Total expenses	138,200.97	1,040,224.51
Profit before tax
Income tax expenses
Earlier Year	0.22	5,836.63
Deferred tax	14,798.26	2,604.94
Total tax expenses	14,798.48	8,441.57
Profit & Loss after tax but before share of profit of Associate Companies	41,979.51	(12,444.33)
Share of Profit Associates	316.59	539.54
Profit for the year attributable to share holders	42,296.10	(11,904.79)
Other Comprehensive income
Items that will not be reclassified to profit or loss
Equity Instruments through Other Comprehensive Income	3,289.23	11,477.75
Other Comprehensive income for the year	3,289.93	11,477.75
Total Comprehensive income for the year	45,585.33	(427.05)
Total Profit/Loss for the year at attribute to:
Owners of the Company	42,255.82	(11,952.53)
Non Controlling Interest	40.28	47.47
Profit & Loss after tax but before share of profit of Associates	45,585.33	(427.05)
Earnings per equity share atttribute to owners of the company
Basics	5.32	(1.51)

The Hooghly Mills Company Limited Consolidated Cash Flow Statement (In Thousand)

Particulars	2022	2021
Cash flow from Operating Activities
Profit before tax	56,777.99	(4,002.77)
Depreciation/ amortixation on continuing operation	10,902.68	13,587.38
Profit on sale of Fixed Assets	(3,680.00)	(5,978.41)
Debts Written Off	91.83	51.54
Investment written off		154.23
Liabillity Written Back		(21.60)
Dividend Income	(52.65)	(7.18)
Advance/Loan Written off	64.77
Share Written off	2,678.53
Finance Costs	35,152.41	28,453.57
Interest Income	(6,960.93)	(3,037.46)
Operating profit before working capital changes	94,974.63	29,199.30
Movement in working capital
Increase/(Decrease) Financial Liabilities borrowings	(251,822.42)	145,493.19
Increase/(Decrease) in Financial Liabilities trade payables	(41,717.90)	(74,897.92)
Increase/(Decrease) in other Financial Liabilities	(20,995.21)	10,694.27
Increase/(Decrease) in Financial other Current Liabilities	(1,900.26)	18,766.26
Decrease/(Increase) in trade receivables	(9,226.99)	28,491.42
Decrease/(Increase) in inventories	269,496.03	(115,469.92)
Decrease/(Increase) in other non-current financial assets	(1,424.49)	4,158.80
Decrease/(Increase) in other financial assets	(877.05)	(1,456.55)
Decrease/(Increase) in other current assets	1,371.19	(804.62)
Cash generated from/ (used in) operations	37,877.53	34,701.38
Direct Taxes paid (net of refunds)	(7,034.96)	(268.40)
Net Cash flow from/ (used in ) operating activities (A)	30,842.57	34,432.98
Cash flow from Investing Activities
Purchase of fixed assets, CWIP and capital advances	(4,559.47)	(5,652.15)
Proceeds from sales of fixed assets	4,100.00	6,019.88
Dividend Received	52.65	7.18
Interest Received	6,960.93	3,037.46
Net cash flow from/(used in) investing activities (B)	6,554.11	3,412.37
Cash flow from Financing Activities
Finance Costs	(35,152.41)	(28,453.57)
Net cash flow from/(used in) financing activities©	(35,152.41)	(28,453.57)
Net Increase/(decrease) in cash and cash equivalents (A+B+C)	2,244.27	9,391.78
Cash and cash equivalents at the beginning of the year	29,677.10	20,285.32
Cash and cash equivalents at the end of the year	31,921.37	29,677.10
Components of Cash and Cash Equivalents
Cash on Hand	2,105.07	1,663.45
With Banks on Current Account	28,914.25	27,225.47
With Banks on Depsoit Accounts	902.05	788.18
Total Cash and Cash Equivalents	31,921.37	29,677.10

Cash Flow from Operating Activities:

In 2022, the company reported a significant improvement in its operating activities compared to the previous year. The operating profit before working capital changes increased to ₹94,974.63 lakhs, a substantial rise from ₹29,199.30 lakhs in 2021. This improvement was primarily driven by an increase in profit before tax, a decrease in depreciation/amortization, and a lower profit on the sale of fixed assets.

However, the movement in working capital had mixed effects. While there was a substantial decrease in financial liabilities borrowings, trade payables, and other financial liabilities, there was a significant increase in inventories. The company managed to generate ₹37,877.53 lakhs from its operations in 2022, compared to ₹34,701.38 lakhs in the previous year.

After accounting for direct taxes, the net cash flow from operating activities in 2022 was ₹30,842.57 lakhs, slightly lower than the ₹34,432.98 lakhs reported in 2021.

Cash Flow from Investing Activities:

The company invested ₹4,559.47 lakhs in fixed assets, CWIP, and capital advances in 2022, slightly less than the ₹5,652.15 lakhs invested in the previous year. The proceeds from the sale of fixed assets increased to ₹4,100.00 lakhs, and the company received dividends and interest, resulting in a net cash inflow from investing activities of ₹6,554.11 lakhs, compared to ₹3,412.37 lakhs in 2021.

Cash Flow from Financing Activities:

In financing activities, the company incurred finance costs of ₹35,152.41 lakhs in 2022, higher than the ₹28,453.57 lakhs in 2021. The net cash flow from financing activities was an outflow of ₹35,152.41 lakhs in 2022, reflecting an increase from the ₹28,453.57 lakhs outflow in the previous year.

Net Increase/(Decrease) in Cash and Cash Equivalents:

The overall cash position of the company witnessed a net increase of ₹2,244.27 lakhs in 2022, significantly lower than the ₹9,391.78 lakhs increase in 2021. The company ended the year with cash and cash equivalents of ₹31,921.37 lakhs, compared to ₹29,677.10 lakhs at the beginning of the year.

Components of Cash and Cash Equivalents:

- Cash on hand increased to ₹2,105.07 lakhs in 2022 from ₹1,663.45 lakhs in 2021.

- With banks on current accounts, the company held ₹28,914.25 lakhs in 2022, up from ₹27,225.47 lakhs in the previous year.

- Cash with banks on deposit accounts amounted to ₹902.05 lakhs in 2022, compared to ₹788.18 lakhs in 2021.

The total cash and cash equivalents, including all components, were ₹31,921.37 lakhs in 2022, reflecting an increase from ₹29,677.10 lakhs in 2021.

Annual Report

The Hooghly Mills Company Ltd Annual Report 2021-22

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The Hooghly Mills Annual Reports, Balance Sheet and Financials

The Hooghly Mills Company Ltd (Hooghly Mills) Return Comparision with Primex 40 Index

The Hooghly Mills Company Limited Balance Sheet (In Thousand)

The Hooghly Mills Company Limited Profit & Loss Statement (In Thousand)

The Hooghly Mills Company Limited Consolidated Cash Flow Statement (In Thousand)

Annual Report

The Hooghly Mills Company Ltd Annual Report 2021-22

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