Xtranet Technologies Limited (Xtranet Technologies) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Xtranet Technologies Limited

Xtranet Technologies Limited Standalone Balance Sheet (Amount in Rs)

Particulars	31-03-2024	31-03-2023
EQUITY AND LIABILITES
Share Capital	6,89,89,400	6,89,89,400
Reserve and Surplus	30,80,88,653	18,98,33,479
Non-Current Liabilities
Long term Borrowings	22,70,97,930	7,38,07,877
Deferred Tax Liabilities (Net)	8,13,191	-
Current Liabilities
Short term Borrowings	15,31,20,583	10,28,73,279
Trade Payable	1,09,79,01,727	1,70,31,63,649
Other Current Liabilities	3,71,46,017	1,05,68,091
Short term Provisions	9,34,70,196	5,98,88,156
TOTAL EQUITY AND LIABILITES	1,98,66,27,697	2.20.91,23.931
ASSETS
Non-Current Assets
Property, Plant & Equipments	3,12,24,213	3,35,82,499
Intangible Assets	1,64,37,250	83,91,382
Capital Work-in-progress	4,37,81,450	1,33,79,215
Non-Current Investment	4,14,45,289	4,14,45,289
Deferred Tax Assets (Net)	-	3,44,660
Long term Loan and Advances	2,78,39,589	2,78,39,589
Other Non - Current Assets	7,10,81,511	4,19,24,035
Current Assets
Inventories	54,50,17,063	35,37,16,068
Trade Receivable	95,65,64,362	1,60,41,00,923
Cash and Bank Balances	2,98,32,381	38,25,003
Short term Loans and Advances	17,77,59,711	5,75,38,564
Other Current Assets	4,56,44,878	2,30,36,704
TOTAL ASSETS	1,98,66,27,697	2,20,91,23,931

Xtranet Technologies Limited Standalone Profit & Loss Statement (Amount in Rs)

Particulars	31-03-2024	31-03-2023
Revenue from Operation (Net)	2,26,81,01,229	2,16,26,09,346
Other Income	29,40,799	16,21,659
Total Revenue	2,27,10,42,028	2,16,42,31.005
Purchase of Traded Goods	1,70,59,95,136	1,88,10,07,612
Changes in Inventories of Finished Goods, By-products and Work-in-Progress	-19,13,00,995	-20,61,39,406
Employee Benefits Expenses	16,82,56,192	15,90,09,316
Finance Costs	2,49,12,691	2,26,55,477
Depreciation and Amortization Expenses	54,93,480	1,11,10,027
Other Expenses	40,27,65,988	22,06,64.380
Total Expenses	2,11,61,22,492	2,08,83,07,406
Profit before Tax	15,49,19,536	7,59,23,599
Current Tax	4,54,79,945	2,20,50,482
Deferred Tax	11,57,851	17,037
Depreciation Written Back	-99,73,434	-
Profit / (Loss) for the period	11,82,55,174	5,38,56,080
Earnings per Equity Share:
Basic	17.14	7.81
Diluted	17.14	7.81

Xtranet Technologies Limited Consolidated Cash Flow Statement (Amount in Rs)

Particulars	31-03-2024	31-03-2023
CASH FLOW FROM OPERATING ACTIVITES
Net Profit before Tax and after Extraordinary Items	15,49,19,536	7,59,23,599
Adjustments for:
Depreciation and Amortization Expenses	54,93,480	1,11,10,027
Interest and Other Income on Investments	-29,40,799	-16,21,659
Interest Expenses	2,49,12,691	2,26,55,477
Operating Profit before Working Capital Charges
Increase/(Decrease) in Trader Payables	-60,52,61,922	1,54,90,76,437
Increase/(Decrease) in Short Term Borrowing	5,02,47,304	-1,49,78,937
Increase/(Decrease) in Other Current Liabilities	2,65,77,926	-39,60,933
Increase/ (Decrease) in Provisions	97,73,827	-7,68,482
(Increase)/Decrease in Inventories	-19,13,00,995	-20,61,39,406
(Increase)/Decrease in Trade Receivables	64,75,36,561	-1,42,82,87,646
(Increase)/Decrease in Short Term Loans and Advances	-12,02,21,147	-1,49,75,967
(Increase)/Decrease in Other Current Assets	-2,26.08.174	-21,18,292
Cash flow from/ (Used In) Operating Activities	-2,28,71,712	-1,40,85,782
Less: Taxes Paid	2,16,71,732	78,93,787
Net Cash Flow from Operating Activates	-4,45,43,444	-2,19,79,569
CASH FLOW FROM INVESTING ACTIVITIES
Sale/(Purchase) of Tangible/Intangible Assets	-3,16,09,863	-1,06,81,294
(Increase)/Decrease in Long Term Loans and Advances	-	-22,16,763
(Increase)/Decrease in Non - Current Investments	-	7,75,093
(Increase)/Decrease in Other Non - Current Assets	-2,91,57,476	-2,24,57,079
Dividend/Bank Interest Received	29,40,799	16,21,659
Net Cash Flow from Investing Activities	-5,78,26,540	-3,29,58,384
CASH FLOW FROM FINANCING ACTIVITIES
Interest Expenses	-2,49,12,691	-2,26,55,477
Increase/(Decrease) in Share Capital	-	1,80,00,000
Increase/(Decrease) in Securities Premium	-	7,20,00,000
Increase/(Decrease) in Long Term Borrowings	15,32.90,053	-2,85,18,748
Net Cash Flow from Financing Activities	12,83,77,362	3,88,25,775
Net Increase In Cash And Cash Equivalents	2,60,07,378	-1,61,12,178
Cash & Casd Equivalents At The Beginning Of The Year	38,25,003	1,99,37,181
Cash & Cash Equivalents At The End Of The Year	2,98,32,381	38,25,003

Summary of the Cash Flow Statement for the years 2024 and 2023:

Cash Flow from Operating Activities

The company reported a net loss of cash from operating activities amounting to ₹4.45 crore in FY 2024 compared to ₹2.20 crore in FY 2023. Despite showing healthy profits before tax, the operations consumed cash largely due to significant working capital movements. The biggest drag came from the sharp fall in trade payables (₹605.26 crore decrease), meaning the company settled a huge portion of its outstanding dues to suppliers. This was only partly offset by a large recovery in trade receivables (₹647.54 crore decrease), indicating collections from customers. Inventory also increased by ₹191.30 crore, locking up more cash. These swings highlight that the company’s core business is still struggling to generate consistent operating cash, and its working capital requirements are very volatile.

Cash Flow from Investing Activities

In FY 2024, the company recorded a net outflow of ₹57.83 crore under investing activities, higher than the ₹32.96 crore outflow in FY 2023. The main reasons were the purchase of fixed assets (₹31.61 crore) and a large increase in other non-current assets (₹29.16 crore). The company earned some inflows from interest and dividends (₹2.94 crore), but these were far too small to offset the heavy outlays. Compared to last year, investments have grown considerably, signaling aggressive expansion or capital expenditure, but at the cost of depleting cash reserves further.

Cash Flow from Financing Activities

Financing activities were the saving grace in FY 2024, contributing a net inflow of ₹128.38 crore, compared to ₹38.83 crore in FY 2023. This was primarily driven by a large increase in long-term borrowings (₹153.29 crore), even after accounting for interest payments of ₹24.91 crore. Unlike FY 2023, where the company raised fresh equity (₹9 crore combined from share capital and premium), FY 2024 relied solely on debt to finance its needs. This shows that the company is leveraging borrowings to fund its working capital and investment requirements, which could increase financial risk if not matched by future earnings growth.

Net Cash Position

After combining all three segments, the company posted a net increase in cash and cash equivalents of ₹26.01 crore in FY 2024, a turnaround from the ₹16.11 crore decrease in FY 2023. The year began with only ₹0.38 crore in cash, and ended with a much stronger balance of ₹29.83 crore. However, this improvement was almost entirely due to new borrowings rather than operational strength. While the cash position has improved on the surface, the reliance on financing rather than sustainable operating cash flow raises concerns about long-term liquidity stability.

Financial Ratios of Xtranet Technologies Limited

Particulars	2024	2023
Current Ratio	1.27	1.09
Debt Service Ratio	7.22	4.35
Inventory Turnover Ratio	3.37	8.64
Trade Payable Turnover Ratio	1.22	2.21
Net profit ratio	5.21	2.49
Debt to Equity	1.01	0.68
Trade Receivable Turnover Ratio	1.77	2.70
Net Capital Turnover Ratio	6.08	13.05
Return on capital employed	23.72	22.64

Summary of the financial ratios of Xtranet Technologies Limited for the year 2024 and 2023:

Current Ratio

The current ratio stood at 1.27 in 2024, slightly up from 1.09 in 2023. This indicates that the company’s short-term liquidity position has improved marginally, as it now holds more current assets relative to current liabilities. However, since the ratio is only just above 1, it suggests that the cushion to cover short-term obligations is thin, and the company may need to manage its working capital carefully to avoid liquidity stress.

Debt Service Ratio

The debt service coverage ratio improved significantly to 7.22 in 2024 from 4.35 in 2023. This is a positive sign, as it shows that the company is generating more than enough earnings to comfortably meet its interest and debt repayment obligations. The higher ratio indicates stronger debt-servicing capacity, reducing the risk of financial strain from borrowings.

Inventory Turnover Ratio

The inventory turnover ratio declined sharply to 3.37 in 2024 from 8.64 in 2023. This suggests that inventory is being sold and replaced at a much slower pace than before. A lower turnover can indicate slower demand, overstocking, or inefficiencies in inventory management. This puts pressure on working capital, as more cash is tied up in unsold stock compared to the previous year.

Trade Payable Turnover Ratio

The trade payable turnover ratio fell to 1.22 in 2024 from 2.21 in 2023. This implies the company is now taking longer to pay its suppliers than in the previous year. While delaying payments can improve short-term liquidity, it might strain relationships with vendors if stretched too far. The fall reflects an increased reliance on supplier credit to manage cash flows.

Net Profit Ratio

The net profit ratio more than doubled to 5.21% in 2024 from 2.49% in 2023. This is a strong improvement, showing that the company converted a higher portion of its revenues into profit. Better cost control, improved efficiency, or stronger pricing power may have contributed to this improvement. It reflects enhanced profitability and better margins compared to the previous year.

Debt to Equity Ratio

The debt to equity ratio rose to 1.01 in 2024 from 0.68 in 2023. This indicates that the company has increased its reliance on debt financing. While the ratio is still at a manageable level, crossing 1 means that debt now slightly outweighs equity in the capital structure. This higher leverage increases financial risk, especially if operating cash flows remain volatile.

Trade Receivable Turnover Ratio

The trade receivable turnover ratio declined to 1.77 in 2024 from 2.70 in 2023. This suggests that the company is taking longer to collect money from customers, which weakens its cash flow cycle. A lower ratio may point to more credit being extended to customers or slower collections, both of which can put pressure on liquidity.

Net Capital Turnover Ratio

The net capital turnover ratio dropped to 6.08 in 2024 from 13.05 in 2023. This indicates that the efficiency of generating sales from capital employed has fallen significantly. Lower turnover suggests that either capital employed has increased without proportional revenue growth or that revenues have slowed. It reflects declining efficiency in using capital to generate business.

Return on Capital Employed (ROCE)

The return on capital employed improved slightly to 23.72% in 2024 from 22.64% in 2023. This shows that despite weaker efficiency ratios, the company has managed to generate a better return from its overall capital base. The steady and high ROCE indicates that the company is maintaining good profitability relative to the funds invested, reflecting strong overall performance in terms of returns.