Summary
Topline: Sales & Distribution
Sales recorded 2.2% CAGR over 6 years. PBIT grew, Margin improved, Trade Receivables growth spiraled, Average Inventory growth was controlled but Equity funds added faster than Sales so Return on Equity fell.
Bottomline: Production, Operations & HR
Employee Benefit Expenses fell, Material Expenses grew bit faster, Trade Payables ballooned. Return on Assets grew as depreciated Property, Plant and Equipment was replenished by progress on nearly INR 22 Cr of Capital Works in these six years.
Financing with Internal & External Funds
WC Ratio increased Working Capital grew much faster mainly due to spike in material costs, delayed customer payments and current financial assets. Cash Conversion Cycle stood unchanged with longer DRO offset by DIO efficiency. Interest Coverage improved and Interest Expenses fell. Short term borrowings reduced but Long term borrowings grew and overall debt grew bit faster SMEs infused Equity funds faster than Sales
Sales & Distribution
These 17 SMEs aggregate metrics linked to Sales, Distribution were:
| FY 23 | FY 21 | FY 17 | |
| Sales Cr | 1,841 | 1,022 | 1,612 |
| - RoE | 5.41% | 0.83% | (6.51%) |
| PBIT | 44 | 6 | (36) |
| - Margin | 2.39% | 0.59% | (2.23%) |
| Trade Receivables | 386 | 252 | 238 |
| - Days Receivables Outstanding | 76 | 94 | 57 (FY 18) |
| Avg Inventory | 405.5 | 335 | 380 (FY 18) |
| - Days Inventory Outstanding | 119.5 | 193 | 135 (FY 18) |
- Sales recorded 2.2% CAGR over 6 years
- Margin improved to 2.39%, from 0.59% and (2.23%)
- Trade Receivables growth spiraled at 8.4%
- Average Inventory growth was controlled at 1.3% CAGR over 5 years
- Return on Equity fell
Production, Operations & HR
These 17 SMEs aggregate metrics linked to Production, Operations & HR were:
| EXPENSE in Cr | FY 23 | FY 21 | FY 17 |
| Employees | 167 | 115 | 171 |
| - % of Sales | 9.1% | 11.25% |
10.61% |
| Materials | 1238 | 635 | 992 |
| - % of Sales | 67.25% | 62.13% | 61.54% |
| Trade Payables | 237.5 | 129 | 169.5 |
| - Days Payables Outstanding | 71.5 | 94 | 68 (FY 18) |
| T Assets | 625 | 586 | 656 |
| Int Assets | 1.7 | 2.1 | 2.7 |
| - RoA | 7.02% | 1.02% | 5.46% |
- Employee Benefit Expenses fell at (0.4%) CAGR over 6 years
- Material Expenses grew faster than Sales at 3.8% CAGR over 6 years
- Trade Payables ballooned growing at 5.8% CAGR over 6 years
- Return on Assets grew
- Progress on over INR 22 Cr of Capital Works since 2016-17 replenished depreciated Property, Plant and Equipment. Intangible Assets dwindled
These 17 SMEs aggregate metrics about Funds generated internally or sourced externally were:
Internal Funds
| FY 23 | FY 21 | FY 17 | |
| Working Capital | 1,462 | 1,090 | 802 |
| - WC Ratio | 3.2 | 3.2 | 2.4 |
| - Cash Coversion Days | 124 | 193 | 124 (FY 18) |
| Current Fin Assets | 124 | 128 | 50.4 |
| Non-current Fin Assets | 72 | 40 | 32 |
| Interest | 48 | 41 | 68 |
| - Interest Coverage | 0.92 | 0.15 | NA |
- WC Ratio increased and Working Capital grew much faster than Sales at 10.53% CAGR over 6 years mainly due to spike in Material Costs, delayed customer payments and financial assets in investment
- Cash Conversion Cycle stood unchanged with longer DRO offset by DIO efficiency
- Interest Coverage improved and Interest Expenses fell at (5.6%) CAGR over 6 years
External Funds
| FY 23 | FY 21 | FY 17 | |
| Debt | 593 | 452 | 515 |
| Equity | 813 | 720 | 553 |
- Short term borrowings reduced but Long term borrowings grew and overall debt grew bit faster at 2.4%
- Equity funds added faster than Sales at 6.64%
