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Financial Report Summary

SUPERMARKET GROCERY SUPPLIES PRIVATE LIMITED - Consolidated Financial Statements Summary

This document presents the consolidated financial statements for Supermarket Grocery Supplies Private Limited ("the Group") covering the period from April 1, 2022, to March 31, 2023, with comparative figures from the prior year.

1. General Information:

• Company Details: Supermarket Grocery Supplies Private Limited is a private limited company incorporated and domiciled in India with its registered office in Bengaluru, Karnataka. Its primary business is trading in grocery and household products.
• Corporate Identity: The Corporate Identity Number (CIN) is U51909KA2011PTC060707. The Permanent Account Number (PAN) of the entity is AAQCS4503H. The address of the registered office of the company is Fairway Business Park, 8th Floor, 2nd, 7th, and 8th Floor, Challaghatta Village, Behind DELL, Domlur and Bangalore 560071. The company is classified as a commercial and industrial enterprise.
• Reporting Period: The financial statements cover a 12-month period from April 1, 2022, to March 31, 2023. The report is consolidated and presented in Indian Rupees (INR). The level of rounding used is actual values and the type of cash flow statement is the indirect method.

2. Auditors Report:

• Auditor Details: BSR & Co. LLP served as the auditors, with Firm Registration No.:101248W/W-100022. The signing partner was Sampad Guha Thakurta, with Membership No.: 060573. The ICAI UDIN is 23060573BGYNCT5164. The auditors' address is Embassy Golf Links Business Park, Pebble Beach, B Block, 3rd Floor, No. 13/2, Off Intermediate Ring Road, Bengaluru-560 071, India. The auditors signed the report on April 24, 2023.
• Opinion: The audit provides a true and fair view in conformity with accounting principles generally accepted in India. The report concludes that the consolidated financial statements are free from material misstatement and complies with the Ind AS specified under Section 133 of the Act.
• Basis for Opinion: The audit was conducted in accordance with Standards on Auditing (SAs) specified under Section 143(10) of the Act and the audit evidence was sufficient and appropriate.
• Emphasis: Two subsidiaries were audited by other auditors, and the auditor's opinion relies on their reports.
• Auditor's Responsibilities: The auditor is responsible for expressing an opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

3. Financial Statement Highlights (INR):

• Assets:
  • Total assets were 4,365.09 millions (previous year: 3,793.30 millions).
  • Non-current assets totaled 3,024.16 millions (previous year: 2,780.38 millions), including property, plant and equipment of 1,389.49 millions (previous year: 1,126.50 millions), goodwill of 1,470.51 millions (previous year: 1,470.51 millions).
  • Current assets totaled 1,340.93 millions (previous year: 1,012.92 millions), including inventories of 558.35 millions (previous year: 479.08 millions) and current financial assets of 318.91 millions (previous year: 190.71 millions).
• Equity and Liabilities:
  • Total equity was 2,202.93 millions (previous year: 1,966.68 millions), with equity attributable to owners of the parent at 2,202.89 millions (previous year: 1,966.63 millions).
  • Non-current liabilities were 1,020.97 millions (previous year: 786.92 millions), including non-current financial liabilities of 938.79 millions (previous year: 712.63 millions).
  • Current liabilities were 1,141.19 millions (previous year: 1,039.69 millions), including current financial liabilities of 1,010.23 millions (previous year: 906.40 millions) and trade payables of 700.53 millions (previous year: 602.49 millions).
• Statement of Profit and Loss:
  • Revenue from operations: 9,468.50 millions (previous year: 8,497.70 millions).
  • Total Expenses: 11,284.73 millions (previous year: 9,596.68 millions).
  • Loss before tax: (1,785.42) millions (previous year: (1,040.66) millions).
  • Net Loss: (1,785.41) millions (previous year: (1,040.65) millions).
  • Other Comprehensive Income: (2.77) millions (previous year: 15.63 millions).
  • Basic and Diluted Loss per Share: (142.95) (previous year: (89.90)).

4. Key Financial Ratios and Information:

• Going Concern: Despite accumulated losses, the financial statements are prepared on a going concern basis, relying on continued financial support, unutilized credit facilities from banks, and ability to raise funds.
• Internal Financial Controls: The Holding Company and subsidiary companies have adequate internal financial controls with reference to financial statements and such internal financial controls were operating effectively as at 31 March 2023.
• Cash Flow Statement: The Group's net cash flow from operating activities used was (1,353.13) millions (previous year: (751.69) millions). Net cash flow from investing activities used was (304.57) millions (previous year: (110.12) millions). Net cash flow from financing activities generated was 1,633.81 millions (previous year: 941.16 millions).
• Trade Receivables: Includes trade receivables considered good and credit impaired. There are no material debts due by directors or related parties.
• Bank Deposits: Includes restricted bank balances primarily on account of bank balances held as lien against bank guarantees.

5. Share Capital:

• Authorized Share Capital: 22,12,63,592 Equity shares of Rs 1 each. A variety of series of Compulsorily Convertible Preference Shares are also authorized with different face values.
• Issued, Subscribed & Paid-Up Share Capital: 11,17,05,964 Equity shares of Re. 1 each, fully paid up. Also, a number of Compulsorily Convertible Preference Shares of various series are issued. Detailed reconciliation of the number of shares outstanding at the beginning and end of the year is included.
• Shareholders Holding More Than 5%: Protraviny Private Limited and Mirae Asset - Naver Asia Growth Investment Pte Ltd are the key shareholders.

6. Borrowings:

• Details of terms of repayment for the unsecured current borrowings are specified, noting that rates ranged from 7.20% to 8.95% p.a., repayable within 36 months.

7. Notes on specific assets and liabilities

• Details on several aspects of the assets and liabilities, including capital work in progress, bank deposits, and right-of-use assets

This summary captures the essential details of the consolidated financial statements of Supermarket Grocery Supplies Private Limited for the fiscal year 2022-2023.