Travancore Sugars And Chemicals Annual Reports, Balance Sheet and Financials

Travancore Sugars and Chemicals Limited Standalone Balance Sheet (Rs in Thousands)

Particulars	31-03-2025	31-03-2024
Equity
Share capital	13,156.89	13,156.89
Reserves and surplus	5,16,989.1	4,56,028.05
Non-current liabilities
Deferred tax liabilities (net)	5,339.66	1,723.57
Long-term provisions	1,212.62	4,776.94
Current liabilities
Trade payables	35,136.66	36,340.27
Other current liabilities	70,156.02	57,959.63
Short-term provisions	7,982.01	7,747.50
Total equity and liabilities	6,49,972.96	5,77,732.85
Non-current assets
Tangible assets	1,93,341.22	77,266.4
Tangible assets capital work-in-progress	-	3,547.95
Long-term loans and advances	230.99	242.5
Other non-current assets	9,289.94	4,258.57
Current assets
Inventories	54,670.83	51,084.47
Trade receivables	1,28,100.46	1,46,233.79
Cash and bank balances	2,30,637.49	2,64,108.97
Short-term loans and advances	4,171.09	3,932.27
Other current assets	29,530.94	27,057.93
Total assets	6,49,972.96	5,77,732.85

Travancore Sugars and Chemicals Limited Standalone Profit & Loss Statement (Rs in Thousands)

Particulars	31-03-2025	31-03-2024
Revenue
Revenue from sale of products	11,53,386.29	11,36,851.63
Other operating revenues	2,430.44	1,449.17
Other income	33,307.05	37,470.02
Total revenue	11,89,123.78	11,75,770.82
Expenses
Cost of materials consumed	8,95,103.91	8,76,116.18
Changes in inventories of finished goods, work-in-progress and stock-in	-47.3	-30.03
Employee benefit expense	31,038.04	31,753.12
Depreciation expense	7,655.81	4,033.38
CSR expenditure	1,179.66	-
Other expenses	1,73,243.01	1,55,712.04
Total expenses	11,08,173.13	10,67,584.69
Total profit before tax	80,950.65	1,08,186.13
Current tax	16,373.51	25,047.43
Deferred tax	3,616.09	1,332.99
Total profit (loss) for period	60,961.05	81,805.71
Earnings per equity share
Basic & Diluted	46.33	62.18

Travancore Sugars and Chemicals Limited Standalone Cash Flow Statement (Rs in Thousands) 

Particulars	31-03-2025	31-03-2024
Cash flows from used in operating activities
Profit before extraordinary items and tax	80,950.65	1,08,186.13
Adjustments for reconcile profit
Adjustments for depreciation and amortization expense	7,655.81	4,033.38
Other adjustments for which cash effects are investing or financing cash flow	-9,091.51	-6,975.71
Adjustments for decrease (increase) in inventories	-3,586.36	-4,639.03
Adjustments for decrease (increase) in trade receivables	18,133.33	-27,457.42
Adjustments for decrease (increase) in other current assets	2,11,607.18	2,07,651.19
Adjustments for increase (decrease) in trade payables	-1,203.60	20,636.25
Adjustments for increase (decrease) in other current liabilities	4,387.83	-1,657.47
Net cash flows from (used in) operations	3,08,853.33	2,99,777.32
Income taxes paid (refund)	16,373.51	25,047.42
Net cash flows from (used in) operating activities	2,92,479.82	2,74,729.90
Cash flows from used in investing activities
Purchase of tangible assets	1,23,730.63	34,374.08
Other inflows (outflows) of cash	-1,93,943.13	-2,01,930.46
Net cash flows from (used in) investing activities	-3,17,673.76	-2,36,304.54
Cash flows from used in financing activities
Dividends paid	-	-23.36
Net cash flows from (used in) financing activities	-	-23.36
Net increase (decrease) in cash and cash equivalents before effect of exchange rate	-25,193.94	38,402
Net increase (decrease) in cash and cash equivalents	-25,193.94	38,402
Cash and cash equivalents cash flow statement at end of period	21,620.2	46,814.14

Summary of cash flow statement for the year 2025 and 2024:

Operating Activities

The company generated strong cash flows from operations, which increased to ₹2,92,479.82 thousand in 2025 from ₹2,74,729.90 thousand in 2024. Although profit before tax declined (₹80,950.65 vs ₹1,08,186.13), the cash flow improved mainly due to working capital adjustments. A major contributor was the sharp increase in other current assets adjustment (₹2,11,607.18), along with a strong recovery in trade receivables (₹18,133.33 inflow vs large outflow last year). However, some negatives include inventory build-up and a fall in trade payables, indicating cash outflow toward suppliers. Overall, the company shows good cash conversion despite lower profits, which is a positive operational signal.

 

Investing Activities

Cash flow from investing activities shows a significant outflow of ₹3,17,673.76 thousand, higher than last year’s ₹2,36,304.54 thousand. This is mainly due to a sharp rise in capital expenditure (₹1,23,730.63 vs ₹34,374.08), indicating expansion or asset strengthening. Additionally, large other cash outflows (₹1,93,943.13) continue to weigh on this segment. This suggests that the company is in a heavy investment phase, which could support future growth but is currently putting pressure on cash reserves.

 

Financing Activities

There is almost no financing activity in 2025, compared to a minor dividend payout in 2024. The absence of borrowings, repayments, or equity changes indicates that the company is not relying on external funding and is instead depending on internal cash flows. This reflects a conservative capital structure, but also limits liquidity support during high investment periods.

 

Net Cash Movement

The company reported a net decrease in cash of ₹25,193.94 thousand, compared to an increase of ₹38,402 thousand in the previous year. This reversal is primarily due to the heavy investing outflows outweighing strong operating inflows. It indicates that while operations are healthy, capital allocation toward investments has significantly drained liquidity.

Financial ratios of Travancore Sugars and Chemicals Limited

Particulars	31-03-2025	31-03-2024
Current Ratio	3.95	4.83
Return on Equity Ratio	11.50	17.44
Inventory Turnover Ratio	17.03	18.06
Trade Receivables Turnover Ratio	8.39	8.55
Trade Payables Turnover Ratio	25.14	33.85
Net Capital Turnover Ratio	3.28	3.27
Net Profit Ratio	5.27	7.19
Return on Capital Employed	15.08	22.74
Return on Investment	463.34	621.77

Summary of financial ratios for the year 2025 and 2024:

Current Ratio:
The current ratio decreased from 4.83 in 2023–24 to 3.95 in 2024–25, indicating a decline in short-term liquidity. Although the ratio remains strong and well above the ideal benchmark of 1.5–2, the reduction suggests relatively lower current assets or increased current liabilities compared to the previous year.

 

Return on Equity Ratio:
Return on equity dropped significantly from 17.44% to 11.50%, reflecting reduced profitability for shareholders. This decline indicates that the company generated lower returns on the equity invested, possibly due to decreased net profits or higher equity base.

 

Inventory Turnover Ratio:
The inventory turnover ratio slightly declined from 18.06 to 17.03, showing a marginal slowdown in inventory movement. This suggests that inventory was sold and replaced less frequently than in the previous year, though the ratio still indicates efficient inventory management overall.

Trade Receivables Turnover Ratio:
The ratio decreased marginally from 8.55 to 8.39, indicating a slight slowdown in the collection of receivables. However, the change is minimal and still reflects a reasonably efficient credit and collection policy.

 

Trade Payables Turnover Ratio:
The trade payables turnover ratio fell from 33.85 to 25.14, suggesting that the company is taking relatively more time to pay its suppliers. This could indicate improved cash management or extended credit terms, but may also reflect liquidity adjustments.

 

Net Capital Turnover Ratio:
The net capital turnover ratio remained almost stable, with a slight increase from 3.27 to 3.28. This indicates consistent efficiency in utilizing working capital to generate revenue.

 

Net Profit Ratio:
The net profit ratio declined from 7.19% to 5.27%, highlighting reduced overall profitability. This suggests that the company faced higher costs or lower margins during the year.

 

Return on Capital Employed:
ROCE decreased from 22.74% to 15.08%, indicating reduced efficiency in generating profits from the total capital employed. These points to weaker operational performance compared to the previous year.

 

Return on Investment:
Return on investment dropped significantly from 621.77% to 463.34%, showing a decline in returns generated from investments. Despite the fall, the ratio remains exceptionally high, indicating strong overall investment performance.