TRL Krosaki Annual Reports, Balance Sheet and Financials

TRL Krosaki Refractories Limited Balance Sheet (Rs in Lakhs)

Particulars	31.03.2024	31.03.2023
ASSETS
Non-current Assets
Property, Plant & Equipment	52,669.77	45,723.08
Capital work-in-progress	4,626.73	4,683.16
Right of use assets	1,495.87	1,483.34
Other Intangible Assets	400.47	387.24
Equity Accounted investments	3,640.60	3,433.40
Investments	144.79	160.96
Other financial assets	524.29	444.84
Loans	0.4	3.55
Non-Current Tax Assets (net)	406.77	291.45
Other Non-Current Assets	2,502.16	2,516.58
Current Assets
Inventories	46,154.17	47,026.40
Trade receivables	37,047.03	33,726.10
Cash & cash equivalents	3,398.01	34.38
Other balances with bank	21.55	12.32
Loans	20.65	29.73
Other financial assets	341.73	217.63
Other Current Assets	3,518.01	2,596.91
Assets held for sale	2.53	3.38
TOTAL ASSETS	1,56,915.53	1,42,774.45
EQUITY AND LIABILITIES:
Equity
Equity Share capital	2,090.00	2,090.00
Other Equity	90,231.21	70,834.18
Liabilities
Non-current Liabilities:
Borrowings	2,609.36	2,725.31
Lease liabilities	1,680.03	1,650.27
Provisions	4,869.87	4,707.21
Deferred tax liabilities (Net)	1,042.58	936.47
Current Liabilities
Borrowings	12,736.98	23,583.99
Lease liabilities	172.96	174.63
total outstanding dues of micro enterprises & small enterprises	1,051.03	536.02
total outstanding dues of creditors	28,809.52	30,619.30
Other financial liabilities	1,706.76	625.37
Other current liabilities	6,852.58	1,948.24
Provisions	1,884.49	1,630.97
Current tax liabilities (net)	1,178.16	712.49
TOTAL EQUITY AND LIABILITIES	1,56,915.53	1,42,774.45

TRL Krosaki Refractories Limited Profit & Loss Statement (Rs in Lakhs)

Particulars	31.03.2024	31.03.2023
Revenue from operations	2,50,264.84	2,28,982.25
Other income	1,324.04	932.58
Total Revenue	2,51,588.88	2,29,914.83
Cost of raw materials consumed	1,04,790.36	1,00,225.89
Purchases of traded goods	37,832.93	31,196.97
Changes in inventories of finished goods and Stock-in-Trade	-1,319.98	-2,378.80
Employee benefits expense	18,306.66	16,219.64
Finance costs	2,136.27	2,274.64
Depreciation and amortization expense	4,369.63	3,869.62
Other expenses	58,948.03	57,775.15
Total Expenses	2,25,063.90	2,09,183.11
Share of profit of equity accounted investees	207.20	335.36
Profit before exceptional item and tax	26,732.18	21,067.08
Exceptional Item	4,359.15	-
Profit before tax	31,091.33	21,067.08
Current tax	6,580.97	4,895.98
Taxation for earlier years	-	-37.39
Deferred Tax	179.37	481.70
Total tax expense	6,760.34	5,240.29
Profit for the year	24,330.99	15,826.79
Other comprehensive income for the year
Items that will not be reclassified to profit or loss
Re-measurement gain/(loss) on defined benefit plans	-288.55	-330.78
Fair value changes of investments in equity shares	-16.17	13.92
Income tax relating to items that will not be classified to profit or loss	73.26	115.58
Total Comprehensive Loss for The Period, Net of income Tax	-231.46	-201.28
Total Comprehensive Income for the Year	24,099.53	15,625.51
Earnings per equity share:
Basic	116.42	75.73
Diluted	116.42	75.73

TRL Krosaki Refractories Limited Consolidated Cash Flow Statement (Rs in Lakhs)

Particulars	31.03.2024	31.03.2023
CASH FLOW FROM OPERATING ACTIVITIES
Net Profit before tax	31,091.33	21,067.08
Adjustments
Share of (profit) of equity accounted investees	-207.2	-335.36
Depreciation and amortization expense	4,369.63	3,869.62
Write back of allowances for credit loss	733.79	440.24
Credit balances written back	-658.86	-519.63
Gain on Lease Modification	-22.63	-
Exceptional Item (Profit on sale of assets held-for sale)	-4,359.15	-
Dividend income	-1.9	-1.55
Net (gain) on sale of property, plant and equipment	-0.03	-43.3
Interest income	-59.5	-73.42
Finance costs	2,136.27	2,274.64
Unrealised (gain) / loss on foreign exchange fluctuation	-276.1	317.74
Operating profit before working capital changes	32,745.65	26,996.06
Adjustments
(Increase) in non-current / current financial and other assets	-4,893.98	-3,742.74
Decrease / (Increase) in inventories	872.23	-2,032.06
Increase in non-current / current financial and other liabilities / provisions	1,076.97	1,932.16
Cash generated from operations	29800.87	23,153.42
Income Tax Paid (net of refund)	-6,230.62	-4,864.23
NET CASH (USED)/GENERATED IN OPERATING ACTIVITIES	23,570.25	18,289.19
CASH FLOW FROM INVESTING ACTIVITIES
Acquisitions of property, plant and equipment	-10,323.33	-8,947.57
Proceeds on sale of property, plant and equipment	13.27	174.57
Proceeds from government grant	256.67	55.04
Fixed deposits with bank	-0.4	-6.4
Advance against sale of land	3,480.00	-
Proceeds from sale of land	4,360.00	-
Interest received	48.64	70.53
Dividend received	1.9	1.55
NET CASH (USED)/GENERATED IN INVESTING ACTIVITIES	-2,163.25	-8,652.28
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from borrowings	5,609.36	10,349.81
Repayment of borrowings	-16,580.67	-14,814.74
Payment of lease liabilities (including interest)	-287.17	-287.01
Interest paid	-2082.39	-2,088.61
Dividend paid	-4,702.50	-3,135.00
NET CASH (USED)/GENERATED IN FINANCING ACTIVITIES	-18,043.37	-9,975.55
NET (DECREASE) / INCREASE IN CASH AND CASH EQUIVALENTS	3,363.63	-338.64
Opening Cash and Cash equivalents	34.38	373.02
Closing Cash and Cash equivalents	3,398.01	34.38

 Here is a summary of the Cash Flow Statement for the years 2024  and 2023:

Net Profit Before Tax:

2024: ₹31,091.33

2023: ₹21,067.08

Significant increase of ₹10,024.25, indicating improved profitability.

Adjustments to Profit:

Share of (Profit) of Equity Accounted Investees:

2024: -₹207.2            

2023: -₹335.36

Reduced loss, reflecting better performance or fewer losses from investments.

Depreciation and Amortization Expense:

2024: ₹4,369.63

2023: ₹3,869.62

Increased by ₹500.01, suggesting higher depreciation due to more assets or higher asset values.

Write Back of Allowances for Credit Loss:

2024: ₹733.79

2023: ₹440.24

Increase in write-backs indicates improved asset recovery.

Credit Balances Written Back:

2024: -₹658.86

2023: -₹519.63

Larger negative adjustment, indicating more credit balances written off.

Gain on Lease Modification:

2024: -₹22.63

No such entry in 2023.

Reflects a new loss from lease modifications.

Exceptional Item (Profit on Sale of Assets Held-for-Sale):

2024: -₹4,359.15

No such entry in 2023.

Significant exceptional item impacting profitability.

Dividend Income:

2024: -₹1.9

2023: -₹1.55

Slight increase in dividend income.

Net (Gain) on Sale of Property, Plant, and Equipment:

2024: -₹0.03

2023: -₹43.3

Reduced gain from asset sales.

Interest Income:

2024: -₹59.5

2023: -₹73.42

Decrease in interest income.

Finance Costs:

2024: ₹2,136.27

2023: ₹2,274.64

Reduced finance costs, indicating lower borrowing costs.

Unrealized (Gain) / Loss on Foreign Exchange Fluctuation:

2024: -₹276.1

2023: ₹317.74

Significant swing from a gain to a loss.

Operating Profit Before Working Capital Changes:

2024: ₹32,745.65

2023: ₹26,996.06

Increase of ₹5,749.59, indicating improved operational performance.

Adjustments for Working Capital Changes:

Increase in Non-Current/Current Financial and Other Assets:

2024: -₹4,893.98

2023: -₹3,742.74

Larger outflow due to increased investment in assets.

Decrease in Inventories:

2024: ₹872.23

2023: -₹2,032.06

Positive change due to better inventory management.

Increase in Non-Current/Current Financial and Other Liabilities/Provisions:

2024: ₹1,076.97

2023: ₹1,932.16

Decreased inflow, reflecting fewer new liabilities or provisions.

Cash Generated from Operations:

2024: ₹29,800.87

2023: ₹23,153.42

Increased by ₹6,647.45, reflecting better cash flow from operations.

Income Tax Paid:

2024: -₹6,230.62

2023: -₹4,864.23

Increased tax payments in line with higher profitability.

Net Cash Generated in Operating Activities:

2024: ₹23,570.25

2023: ₹18,289.19

Increased cash generation by ₹5,281.06 from operations.

Investing Activities:

Acquisitions of Property, Plant, and Equipment:

2024: -₹10,323.33

2023: -₹8,947.57

Higher capital expenditure on new assets.

Proceeds on Sale of Property, Plant, and Equipment:

2024: ₹13.27

2023: ₹174.57

Decreased proceeds from asset sales.

Proceeds from Government Grant:

2024: ₹256.67

2023: ₹55.04

Increased government grant inflow.

Fixed Deposits with Bank:

2024: -₹0.4

2023: -₹6.4

Minimal change in fixed deposits.

Advance Against Sale of Land and Proceeds from Sale of Land:

2024: ₹7,840.00

New land transactions improving cash inflows.

Net Cash Used in Investing Activities:

2024: -₹2,163.25

2023: -₹8,652.28

Reduced outflow, indicating better cash management in investments.

Financing Activities:

Proceeds from Borrowings:

2024: ₹5,609.36

2023: ₹10,349.81

Lower new borrowings.

Repayment of Borrowings:

2024: -₹16,580.67

2023: -₹14,814.74

Increased debt repayments.

Payment of Lease Liabilities:

2024: -₹287.17

2023: -₹287.01

Consistent lease liability payments.

Interest Paid:

2024: -₹2,082.39

2023: -₹2,088.61

Slight decrease in interest payments.

Dividend Paid:

2024: -₹4,702.50

2023: -₹3,135.00

Increased dividend payments.

Net Cash Used in Financing Activities:

2024: -₹18,043.37

2023: -₹9,975.55

Higher outflow, reflecting increased repayments and dividends.

Net Increase in Cash and Cash Equivalents:

2024: ₹3,363.63

2023: -₹338.64

Significant improvement, showing increased cash position.

Opening and Closing Cash and Cash Equivalents:

Opening Cash and Cash Equivalents:

2024: ₹34.38

2023: ₹373.02

Lower opening balance.

Closing Cash and Cash Equivalents:

2024: ₹3,398.01

2023: ₹34.38

Large increase in closing balance, reflecting improved liquidity.

Financial Ratios of TRL Krosaki Refractories Limited

Particulars	2024	2023
Current Ratio	1.66	1.4
Debt – Equity Ratio	0.17	0.37
Debt Service Coverage Ratio	3.41	3.14
Return on Equity Ratio	24.59%	23.66%
Inventory Turnover ratio	5.32	4.92
Trade receivables turnover ratio	7.07	7.21
Trade payables turnover ratio	6.91	6.59
Net capital turnover ratio	8.35	9.64
Net Profit Ratio	7.86%	6.75%
Return on capital employed	26.44%	23.27%
Return on investment	-0.88%	0.96%

Here is a summary of the financial and operational metrics for TRL Krosaki Refractories Limited for the years 2024 and 2023:

Current Ratio

2024: 1.66

2023: 1.4

Analysis: The current ratio measures the company’s ability to pay short-term liabilities with short-term assets. A ratio of 1.66 indicates a stronger liquidity position in 2024 compared to 1.4 in 2023. This improvement suggests better short-term financial health, as the company has more current assets available relative to its current liabilities.

Debt – Equity Ratio

2024: 0.17

2023: 0.37

Analysis: The debt-to-equity ratio assesses the company 's financial leverage by comparing its total debt to its shareholders ' equity. A ratio of 0.17 in 2024, down from 0.37 in 2023, indicates a significant reduction in financial risk. The lower ratio shows that the company relies less on debt for financing, which can make it less risky for investors and lenders.

Debt Service Coverage Ratio

2024: 3.41

2023: 3.14

Analysis: This ratio measures the company 's ability to cover its debt obligations with its operating income. An increase from 3.14 to 3.41 means the company is more capable of meeting its debt payments with operating cash flow. A higher ratio is better, indicating strong debt servicing ability.

Return on Equity (ROE)

2024: 24.59%

2023: 23.66%

Analysis: ROE measures how effectively the company uses shareholders ' equity to generate profits. A slight increase in ROE from 23.66% to 24.59% indicates improved profitability relative to shareholders ' equity, reflecting efficient management and successful use of equity.

Inventory Turnover Ratio

2024: 5.32

2023: 4.92

Analysis: This ratio shows how efficiently the company manages its inventory by comparing the cost of goods sold to average inventory. An increase from 4.92 to 5.32 indicates better inventory management and faster inventory turnover, which can reduce holding costs and improve cash flow.

Trade Receivables Turnover Ratio

2024: 7.07

2023: 7.21

Analysis: This ratio measures how efficiently the company collects receivables from customers. A decrease from 7.21 to 7.07 suggests a slight decline in efficiency. The company may be taking slightly longer to collect its receivables, which could impact cash flow.

Trade Payables Turnover Ratio

2024: 6.91

2023: 6.59

Analysis: This ratio indicates how quickly the company pays off its trade payables. An increase from 6.59 to 6.91 shows that the company is paying its suppliers more quickly. While this can improve supplier relationships, it may also strain cash flow.

Net Capital Turnover Ratio

2024: 8.35

2023: 9.64

Analysis: This ratio measures how efficiently the company uses its capital to generate sales. A decrease from 9.64 to 8.35 indicates a reduction in capital efficiency, meaning the company is generating fewer sales per unit of capital employed.

Net Profit Ratio

2024: 7.86%

2023: 6.75%

Analysis: The net profit ratio indicates how much of each rupee of sales translates into profit. An increase from 6.75% to 7.86% shows improved profitability, meaning the company has become more efficient at converting sales into actual profit.

Return on Capital Employed (ROCE)

2024: 26.44%

2023: 23.27%

Analysis: ROCE measures the profitability and efficiency of capital usage. An increase from 23.27% to 26.44% indicates a more effective use of capital to generate profits, suggesting enhanced operational efficiency.

Return on Investment (ROI)

2024: -0.88%

2023: 0.96%

Analysis: ROI measures the return on investments made by the company. A decline from 0.96% to -0.88% signifies that investments are not yielding positive returns in 2024, potentially indicating poor investment performance or increased costs.

Dividend History

Particulars	2024	2023
Dividend Per Share (in Rs.)	22.50	15.00
Retained Earnings (Rs. In Lakhs)	67,174.18	47,760.98

TRL Krosaki Refractories Limited Recent Financial Performance

Dividend per Share: The specific dividend per share figure for 2024 is Rs. 22.50 and 2023 is Rs. 15.00. Dividend per share represents the portion of a company 's earnings that is distributed to shareholders in the form of dividends. A higher dividend per share may indicate that the company is sharing more of its profits with shareholders.

Retained Earnings: Retained earnings for 2024 amounted to Rs. 67,174.18

 Lakhs, while in 2023, they were Rs. 47,760.98 Lakhs. Retained earnings represent the portion of a company 's profits that is reinvested in the business rather than distributed as dividends. An increase in retained earnings suggests that the company has retained more of its profits for reinvestment or future growth.

To provide a more comprehensive analysis, it would be necessary to consider additional financial metrics such as revenue, net profit, assets, liabilities, and cash flows. Additionally, an analysis of trends over multiple years and a comparison to industry benchmarks and competitors would help in assessing the company 's financial health and performance