Financial Report Summary
Apollo Green Energy Limited Consolidated Financial Statements Summary
This document presents the consolidated financial statements for Apollo Green Energy Limited, covering the period from April 1, 2022, to March 31, 2023, with comparative figures from the previous period.
I. General Information about the Company:
- Name: Apollo Green Energy Limited
- Corporate Identity Number (CIN): U74899DL1994PLC061080
- Permanent Account Number (PAN): AAACA6447N
- Registered Office Address: Office No. 303, Third Floor, DLF Courtyard, Saket, New Delhi South Delhi, DELHI, INDIA-110017.
- Type of Industry: Commercial and Industrial
- Reporting Period: April 1, 2022, to March 31, 2023
- Nature of Report: Consolidated
- Content: Financial Statements
- Presentation Currency: INR (Indian Rupees)
- Rounding: Lakhs
- Cash Flow Statement Method: Indirect Method
II. Auditor's Report:
- Auditor Firm: M. K. Aggarwal & Co.
- Auditor Signing Report: Atul Aggarwal
- Firm Registration Number: 01411N
- Auditor Membership Number: 099374
- Auditor Address: 30 Nishant Kunj, Pitam Pura, New Delhi-110034
- Auditor Firm PAN: AABFM7140A
- SRN of form ADT-1: F01506591
- Report Signing Date: December 30, 2023
- Balance Sheet Signing Date: December 30, 2023
- Emphasis of Matters: M/s Apollo Logisolutions Ltd. has been consolidated in Apollo Green Energy Limited as an associate entity. Receivable of Rs.622 Lac from certain party is considered doubtful of recovery for which no provision has been made in the books of accounts, in view of legal opinion obtained by the management.
- The audit was conducted according to the Standards on Auditing (SAs) specified under section 143(10) of the Act.
- The auditors believe that sufficient and appropriate audit evidence has been obtained to form a basis for their opinion.
- The auditor's report is unqualified, meaning there are no reservations or adverse remarks.
III. Financial Performance (Consolidated):
- Revenue from Operations: ₹75,340 lakhs (previous year: ₹81,036 lakhs)
- Other Income: ₹3,744 lakhs (previous year: ₹4,206 lakhs)
- Total Expenses: ₹76,519 lakhs (previous year: ₹86,426 lakhs)
- Profit Before Tax: ₹2,565 lakhs (previous year: ₹-1,184 lakhs)
- Tax Expense: ₹747 lakhs (previous year: ₹-3,729 lakhs)
- Profit for the Period: ₹2,470 lakhs (previous year: ₹4,143 lakhs)
- Basic/Diluted Earnings per Share: ₹13 (previous year: ₹22)
- Other Comprehensive Income (OCI): ₹550 lakhs (previous year: ₹1,332 lakhs), primarily gains on remeasurements of defined benefit plans and foreign exchnage translation reserve.
IV. Balance Sheet (Consolidated):
- Total Assets: ₹1,20,282 lakhs (previous year: ₹1,47,014 lakhs), including property, plant, and equipment of ₹4,306 lakhs.
- Total Equity: ₹46,954 lakhs (previous year: ₹43,164 lakhs), comprising ₹1,900 lakhs equity share capital and ₹45,038 lakhs other equity.
- Total Liabilities: ₹73,328 lakhs (previous year: ₹1,03,850 lakhs).
V. Key Financial Ratios & Information:
- Investments:
- ₹26,262 lakhs include investments accounted for using the equity method of ₹15,435 lakhs. In 2021, investments were ₹16,096 lakhs including investments accounted for using equity method of ₹4502 lakhs.
- Trade receivables, current: ₹20,872 lakhs (previous year: ₹20,974 lakhs).
- Cash and cash equivalents: ₹6,920 lakhs (previous year: ₹7,238 lakhs), inclusive of bank balances.
- Borrowings (Non-current): 19,865 lakhs (previous year: ₹35,523 lakhs).
- Revenue From Operations:
- Includes revenue adjustments for liquidated damages and variations.
VI. Compliance & Other Legal Requirements:
- The consolidated financial statements comply with the Indian Accounting Standards specified under Section 133 of the Companies Act, 2013.
- The Holding Company has neither declared nor paid any dividend during the year.
- Auditors’ Report also covers the adequacy and operating effectiveness of the Holding Company's internal financial controls.
VII. Subsidiaries, Associates & Joint Ventures:
The consolidated financial statements include the financial results of subsidiaries, one associate (Apollo Logisolutions Limited which became an associate this year due to reduced ownership) and joint ventures. Financial results and assets for subsidiaries reflect INR 30,520 Lacs as at 31st March 2023, revenue of Rs.14,085 Lacs, and net cash flows amounting to Rs.112 Lacs for the year. A list of seven subsidiaries, eight step down subsidiaries and one associate entity is provided within the document.
VIII. Accounting Policies and Basis of Consolidation:
- The financial statements are prepared in accordance with Indian Accounting Standards (Ind AS).
- The consolidated financial statements include the financial statements of the Company and its subsidiaries and associates.
- Control is achieved when the Group has the power to direct the relevant activities of the investee, is exposed to variable returns from its involvement with the investee, and has the ability to use its power over the investee to affect its returns.
- The consolidated financial statements are prepared using uniform accounting policies for like transactions and other events in similar circumstances.
- All foreign currencies are converted into INR, with exchange differences recognized in the Foreign Currency Translation Reserve (FCTR).
- Transactions are accounted on trade date.
- Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalized.
IX. Contingencies & Commitments:
- The document states that the consolidated financial statements disclosed the impact of pending litigations.
- There were no amounts that were required to be transferred to the Investor Education and Protection Fund.
X. Subsequent Events & Fair Value Measurement:
- The document states that no adjusting or material non-adjusting events have occurred after the reporting date.
- The group measures financial instruments, such as, derivatives at fair value at each balance sheet date,
- Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
Note: This summary attempts to capture the most salient points of the consolidated financial statements. For comprehensive and detailed information, the reader is advised to consult the full document.
