Summary
Topline: Sales & Distribution
Sales recorded fall of (0.1%) CAGR over 6 years. Margin remained negative, Trade Receivables grew, Average Inventory grew bit faster but Equity funds exitting rapidly.
Bottomline: Production, Operations & HR
Employee Benefit Expenses fell, Material Expenses fell, Trade Payables ballooned. Return on Assets remained negative as depreciated Property, Plant and Equipment was substituted by Right of Use & Investment properties and partly replenished by progress on nearly INR 19 Cr of Capital Works in these six years.
Financing with Internal & External Funds
WC Ratio increased Working Capital ballooned faster mainly due to spike in current financial assets. Cash Conversion Cycle shortened with longer DPO. Interest Coverage is absent and Interest Expenses grew. Both Long term and Short term borrowings reduced and overall debt fell SMEs liquidated Equity funds faster than Sales
Sales & Distribution
These 8 SMEs aggregate metrics linked to Sales, Distribution were:
| FY 23 | FY 21 | FY 17 | |
| Sales Cr | 865 | 431 | 871 |
| - RoE | (127%) | (905%) | (23%) |
| PBIT | (47) | (172) | (79) |
| - Margin | (5.43%) | (39.9%) | (9.07%) |
| Trade Receivables | 176 | 160 | 145 |
| - Days Receivables Outstanding | 73 | 125 | 69 (FY 18) |
| Avg Inventory | 277 | 262 | 272 (FY 18) |
| - Days Inventory Outstanding | 225 | 343 | 220 (FY 18) |
- Sales recorded fall of (0.1%) CAGR over 6 years
- Margin remained negative at (5.39%), from (39.9%) and (9.07%)
- Trade Receivables grew at 3.3%
- Average Inventory grew at 0.37% CAGR over 5 years
- Return on Equity fell
Production, Operations & HR
These 8 SMEs aggregate metrics linked to Production, Operations & HR were:
| EXPENSE in Cr | FY 23 | FY 21 | FY 17 |
| Employees | 126 | 101 | 138 |
| - % of Sales | 14.57% | 23.43% |
15.84% |
| Materials | 450 | 279 | 474 |
| - % of Sales | 52.02% | 64.73% | 54.42% |
| Trade Payables | 166.5 | 189 | 131 |
| - Days Payables Outstanding | 142 | 128 | 115 (FY 18) |
| T Assets | 255 | 252 | 241 |
| Int Assets | 71 | 71 | 129 |
| - RoA | (14.42%) | (53.3%) | (21.35%) |
- Employee Benefit Expenses fell at (1.5%) CAGR over 6 years
- Material Expenses fell at (0.86%) CAGR over 6 years
- Trade Payables ballooned growing at 4.1% CAGR over 6 years
- Return on Assets remained negative
- Progress on over INR 19 Cr of Capital Works since 2016-17 replenished depreciated Property, Plant and Equipment. Intangible Assets dwindled
These 8 SMEs aggregate metrics regarding Funds generated internally or sourced externally were:
Internal Funds
| FY 23 | FY 21 | FY 17 | |
| Working Capital | 810 | 658 | 534 |
| - WC Ratio | 3.28 | 1.55 | 1.75 |
| - Cash Coversion Days | 156 | 340 | 174 (FY 18) |
| Current Fin Assets | 71 | 37 | 38 |
| Non-current Fin Assets | 86 | 57 | 113 |
| Interest | 72 | 71 | 54 |
| - Interest Coverage | NA | NA | NA |
- WC Ratio increased and Working Capital ballooned faster than Sales at 7.19% CAGR over 6 years mainly due to spike in current financial assets in investment, cash and cash equivalents
- Cash Conversion Cycle shortened mainly by longer DPO
- Interest Coverage is absent and Interest Expenses grew at 4.9% CAGR over 6 years
External Funds
| FY 23 | FY 21 | FY 17 | |
| Debt | 219 | 239 | 318.5 |
| Equity | 37 | 19 | 347 |
- Both Long term and Short term borrowings reduced and overall debt fell at (6.05%)
- Equity funds exitted at (31.14%) CAGR
