Vadilal Dairy International Annual Reports, Balance Sheet and Financials

Vadilal Dairy International Limited Balance Sheet (Rs in Lakhs)

 

Particulars	31/03/2024	31/03/2023
ASSETS
Non-Current Assets
Property, plant and equipment	737.05	863.46
Investments	8	8
Other Financial Assets	323	323
Deferred Tax Asset Net	139.72	136.97
Current Assets
Inventories	863.96	932.13
Investments	6.39	5.09
Trade receivables	307.08	225.91
Cash and cash equivalents	31.66	53.05
Loans & Advances	36.76	23.92
Other current assets	107.27	92.78
TOTAL ASSETS	2,560.90	2,664.31
EQUITY AND LIABILITIES
Equity share capital	319.42	319.42
Other equity	359.26	544.63
Liabilities
Long Term Borrowings	738.99	700.78
Provisions	51.91	67.58
Current Liabilities
Borrowings	458.29	281.25
Trade payables	363.46	484.23
Provisions	22.86	41.75
Other current liabilities	246.72	224.68
TOTAL EQUITY AND LIABILITIES	2560.9	2,664.31

 

Vadilal Dairy International Limited Profit & Loss Statement (Rs in Lakhs)

 

Particulars	31/03/2024	31/03/2023
Revenue from operations	2,501.93	2,882.61
Other income	44.05	34.52
TOTAL INCOME	2,545.98	2,917.13
EXPENSES
Cost of materials consumed	1,204.09	1,464.39
Changes in inventories of finished goods, work-in-progress and stock-in-trade	30.61	-146.54
Employee benefit expenses	330.62	345.58
Finance costs	30.13	16.02
Depreciation and amortisation expense	200.24	195.81
Other expenses	925.58	1,156.80
TOTAL EXPENSES	2,721.27	3,032.06
Profit / (loss) before Tax for the period	-175.3	-114.93
Tax expense
Deferred tax	2.76	-69.98
Short/ (Excess) Provision of earlier years		43.15
Total Tax Expense	2.76	-26.83
Profit / (loss) for the period	-178.05	-88.1
Other Comprehensive Income
Items that will not be reclassified to profit and loss
Remeasurements of the defined benefit plans	-7.31	5.47
Income tax on items that will not be reclassified subsequently to statement of profit and loss	1.9	-1.42
Other Comprehensive Income, net of tax	-5.41	4.05
Total comprehensive income for the year	-183.47	-84.06
Earning per equity share of face value of Rs.10 each For Contuining operation Basic (in Rs.)	-5.57	-2.76

 

Vadilal Dairy International Limited Consolidated Cash Flow Statement (Rs in Lakhs)

 

Particulars	31/03/2024	31/03/2023
Cash Flow from Operating Activities
Net Profit / (Loss) after extraordinary items and tax	-175.3	-114.93
Adjustments
Depreciation and amortisation	200.24	195.81
Finance costs	-30.13	-16.02
Interest income	0.06	3.06
Dividend income	0.02	0.01
Deferred Tax	2.76	-69.98
Operating Profit / (loss) before Working Capital Changes	-2.34	-2.05
Adjustments
Trade and Other Receivables	-81.17	-72.96
Inventories	68.17	-382.29
Trade and Other Payables	-133.29	205.2
Net Cash Flow from / (used in) Operating Activities	-148.64	-252.11
Cash flow from Investing Activities
Capital expenditure on fixed assets, including capital advances	-79.35	-180.4
Purchase of Investment	-1.3	-0.27
Interest received	-0.06	-3.06
Dividend received	-0.02	-0.01
Net Cash Flow from / (used in) Investing Activities	-80.74	-183.74
Cash Flow from Financing activities
Share application money received / (refunded)/ Change in Equity	-10.07	31.3
Proceeds from long-term borrowings	215.25	98.9
Repayment of long-term borrowings	-27.32	21.12
Finance cost	30.13	16.02
Net Cash Flow from / (used in) Financing Activities	207.99	167.34
Net Increase / (Decrease) in Cash and Cash Equivalents	-21.39	-268.52
Cash and cash equivalents at the beginning of the year	53.05	321.56
Cash and Cash Equivalents at the end of the year	31.66	131.78
Reconciliation of Cash and cash equivalents with the Balance Sheet:
Cash and cash equivalents as per Balance Sheet	53.05	321.56
Net Cash and cash equivalents	-21.39	-268.52
Cash and Cash Equivalents at the end of the year	31.66	53.05

 

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

 

Cash Flow from Operating Activities

 

Net Profit / (Loss) after Extraordinary Items and Tax

 

31/03/2024: -175.3

 

31/03/2023: -114.93

 

Analysis: The net loss has increased from the previous year, indicating worsening financial performance.

 

Adjustments

 

Depreciation and Amortisation

 

31/03/2024: 200.24

 

31/03/2023: 195.81

 

Analysis: Depreciation has increased slightly, which is typical as assets age and accumulate more depreciation.

 

Finance Costs

 

31/03/2024: -30.13

 

31/03/2023: -16.02

 

Analysis: Finance costs have more than doubled, which may be due to increased borrowings or higher interest rates.

 

Interest Income

 

31/03/2024: 0.06

 

31/03/2023: 3.06

 

Analysis: Interest income has decreased significantly, possibly indicating a reduction in interest-bearing investments or deposits.

 

Dividend Income

 

31/03/2024: 0.02

 

31/03/2023: 0.01

 

Analysis: Dividend income is minimal and remains largely unchanged.

 

Deferred Tax

 

31/03/2024: 2.76

 

31/03/2023: -69.98

 

Analysis: Deferred tax has shifted from a negative to a positive value, which might indicate a reversal of tax deferrals or changes in tax laws.

 

Operating Profit / (Loss) Before Working Capital Changes

 

31/03/2024: -2.34

 

31/03/2023: -2.05

 

Analysis: This measure of operating profitability has worsened, reflecting challenges in core operations.

 

Adjustments to Working Capital

 

Trade and Other Receivables

 

31/03/2024: -81.17

 

31/03/2023: -72.96

 

Analysis: An increase in receivables suggests either higher sales on credit or issues with collection.

 

Inventories

 

31/03/2024: 68.17

 

31/03/2023: -382.29

 

Analysis: The change in inventory is positive in 2024 compared to a large negative adjustment in 2023, possibly indicating improved inventory management or lower stock levels.

 

Trade and Other Payables

 

31/03/2024: -133.29

 

31/03/2023: 205.2

 

Analysis: A decrease in payables could suggest either faster payments to suppliers or lower purchases.

 

Net Cash Flow from / (Used in) Operating Activities

 

31/03/2024: -148.64

 

31/03/2023: -252.11

 

Analysis: Although the cash flow from operating activities remains negative, it has improved compared to the previous year.

 

Cash Flow from Investing Activities

 

Capital Expenditure on Fixed Assets, Including Capital Advances

 

31/03/2024: -79.35

 

31/03/2023: -180.4

 

Analysis: Capital expenditure has decreased, which may reflect reduced investment in new assets or expansion.

 

Purchase of Investment

 

31/03/2024: -1.3

 

31/03/2023: -0.27

 

Analysis: Investment purchases are minimal and have increased slightly.

 

Interest Received

 

31/03/2024: -0.06

 

31/03/2023: -3.06

 

Analysis: Consistent with the reduction in interest income mentioned in the operating activities.

 

Dividend Received

 

31/03/2024: -0.02

 

31/03/2023: -0.01

 

Analysis: Dividend received remains minimal and unchanged.

 

Net Cash Flow from / (Used in) Investing Activities

 

31/03/2024: -80.74

 

31/03/2023: -183.74

 

Analysis: There is a significant reduction in cash outflow from investing activities, indicating a decrease in capital spending.

Cash Flow from Financing Activities

 

Share Application Money Received / (Refunded) / Change in Equity

 

31/03/2024: -10.07

 

31/03/2023: 31.3

 

Analysis: The change in equity is negative, which could indicate a refund or reduction in equity.

 

Proceeds from Long-Term Borrowings

 

31/03/2024: 215.25

 

31/03/2023: 98.9

 

Analysis: Increased borrowing in 2024, possibly to finance operations or capital expenditure.

 

Repayment of Long-Term Borrowings

 

31/03/2024: -27.32

 

31/03/2023: 21.12

 

Analysis: There is a shift from net repayment in 2023 to net borrowing in 2024.

 

Finance Costs

 

31/03/2024: 30.13

 

31/03/2023: 16.02

 

Analysis: Higher finance costs reflect the increased borrowing.

 

Net Cash Flow from / (Used in) Financing Activities

 

31/03/2024: 207.99

 

31/03/2023: 167.34

 

Analysis: Positive cash flow from financing activities has increased, largely due to higher borrowings.

 

Net Increase / (Decrease) in Cash and Cash Equivalents

 

31/03/2024: -21.39

 

31/03/2023: -268.52

 

Analysis: There is a significant improvement in the net cash flow despite remaining negative.

 

Cash and Cash Equivalents

 

At the Beginning of the Year

 

31/03/2024: 53.05

 

31/03/2023: 321.56

 

At the End of the Year

 

31/03/2024: 31.66

 

31/03/2023: 131.78

 

Reconciliation

 

31/03/2024: Cash flow matches with balance sheet ending balance.

 

31/03/2023: Cash flow does not match balance sheet ending balance, possibly due to an error or adjustment.

 

 

 

Financial Ratios of Vadilal Dairy International Limited

 

Particulars	2024	2023
Current Ratio	1.24	1.29
Debt – Equity Ratio	1.76	1.14
Debt Service Coverage Ratio	-6.34	-12.49
Return on Equity Ratio	-26%	-10%
Inventory Turnover ratio	1.37	2.1
Trade receivables turnover ratio	9.39	11.58
Trade payables turnover ratio	2.78	3.86
Net capital turnover ratio	9.56	9.58
Net Profit Ratio	-7%	-3%
Return on capital employed	-10%	-6%
Return on investment	-6%	-4%

 

Here is a summary of the financial and operational metrics for Vadilal Dairy International Limited for the years 2024 and 2023:

 

Current Ratio

 

2024: 1.24

 

2023: 1.29

 

Insight: The current ratio has decreased slightly, indicating a marginal decline in the company 's ability to cover its short-term liabilities with its short-term assets. While still above 1, which is generally considered acceptable, the decline suggests that liquidity is tightening.

 

Debt-to-Equity Ratio

 

2024: 1.76

 

2023: 1.14

 

Insight: The debt-to-equity ratio has increased significantly. This indicates a higher reliance on debt financing compared to equity. While this might allow the company to leverage more for growth, it also increases financial risk and the burden of interest payments, which is evident from the rising finance costs.

 

Debt Service Coverage Ratio

 

2024: -6.34

 

2023: -12.49

 

Insight: The negative debt service coverage ratio has improved, though it remains negative. This ratio measures the company 's ability to cover its debt obligations from operating cash flows. A negative value indicates that the company is not generating sufficient cash to cover its debt payments, but the improvement suggests some progress in managing this issue.

 

Return on Equity Ratio (ROE)

 

2024: -26%

 

2023: -10%

 

Insight: ROE has worsened, indicating a significant decline in the profitability relative to shareholders ' equity. This reflects that the company is generating negative returns on shareholders ' investments and suggests ongoing operational or financial challenges.

 

Inventory Turnover Ratio

 

2024: 1.37

 

2023: 2.1

 

Insight: The inventory turnover ratio has decreased, suggesting that inventory is being sold at a slower rate. This could point to overstocking, decreased sales efficiency, or potential issues with product demand.

 

Trade Receivables Turnover Ratio

 

2024: 9.39

 

2023: 11.58

 

Insight: The decrease in the trade receivables turnover ratio indicates that receivables are being collected more slowly. This could suggest issues with credit control or slower payments from customers.

 

Trade Payables Turnover Ratio

 

2024: 2.78

 

2023: 3.86

 

Insight: A lower trade payables turnover ratio means the company is taking longer to pay its suppliers. This might indicate improved cash flow management or difficulties in paying off suppliers.

 

Net Capital Turnover Ratio

 

2024: 9.56

 

2023: 9.58

 

Insight: The ratio has remained stable, indicating that the company’s efficiency in generating sales from its net capital employed has not changed significantly. This suggests stable performance in utilizing capital to generate revenue.

 

Net Profit Ratio

 

2024: -7%

 

2023: -3%

 

Insight: The net profit ratio has worsened, indicating increased losses relative to sales. This further underscores the company’s struggles with profitability.

 

Return on Capital Employed (ROCE)

 

2024: -10%

 

2023: -6%

 

Insight: The ROCE has declined, showing that the return generated on capital employed has worsened. This suggests inefficiencies in using capital to generate profit and may point to operational challenges.

 

Return on Investment (ROI)

 

2024: -6%

 

2023: -4%

 

Insight: The ROI has also decreased, reflecting a decline in the effectiveness of investments. This suggests that the company is not achieving satisfactory returns on its investments.

 

Dividend History

 

Particulars	2024	2023
Dividend Per Share (in rs.)	-	-
Retained Earnings (Rs. In Lakhs)	328.19	506.24

 

Vadilal Dairy International Limited Recent Financial Performance

 

Dividend per Share: The specific dividend per share figure for 2024 and 2023 is not provided. 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 328.19 Lakhs, while in 2023, they were Rs. 506.24 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