Elofic Industries Limited Unlisted Shares

Financial Report Summary

Consolidated Balance Sheet Summary (March 31, 2024)

This document presents the consolidated balance sheet of Elofic Industries Limited as of March 31, 2024, with comparative figures from March 31, 2023. All figures are in Rupees Lakhs unless otherwise stated.

Equity and Liabilities:

• Shareholders' Funds: Increased significantly, driven by growth in reserves and surplus.
  • Share capital remained constant at 250.84.
  • Reserves and surplus increased from 20,670.13 to 25,401.35.
• Non-Current Liabilities: Increased primarily due to higher deferred tax liabilities.
  • Deferred tax liabilities (net) increased from 31.47 to 58.96.
  • Long term provisions increased slightly from 0.26 to 1.67.
• Current Liabilities: Increased.
  • Trade payables, specifically dues to creditors other than micro and small enterprises, increased from 2,639.27 to 2,909.54.
  • Other current liabilities decreased from 514.25 to 490.43.
  • Short term provisions increased from 307.51 to 390.60.

The total equity and liabilities amounted to 29,867.97 as of March 31, 2024, compared to 24,935.50 in the previous year.

Assets:

• Non-Current Assets: Rose substantially, mainly from increases in property, plant and equipment and intangible assets.
  • Property, plant and equipment increased from 5,646.17 to 6,815.49.
  • Intangible assets increased slightly from 17.33 to 147.31.
  • Capital work-in-progress decreased from 563.29 to 95.24.
  • Intangible assets under development increased from 136.35 to 227.01.
  • Long-term loans and advances decreased from 278.64 to 326.56.
  • Other non-current assets decreased from 7,100.89 to 376.56.
• Current Assets: Increased significantly, reflecting overall business growth.
  • Current investments remained constant at 20.00.
  • Inventories increased from 5,677.30 to 6,060.14.
  • Trade receivables increased from 4,170.70 to 5,655.09.
  • Cash and bank balances increased from 5,221.85 to 9,062.11.
  • Short-term loans and advances decreased from 1,653.20 to 851.91.
  • Other current assets increased from 449.78 to 607.11.

Total assets as of March 31, 2024 were 29,867.97, up from 24,935.50 in the previous year.

Consolidated Statement of Profit and Loss Summary (Year Ended March 31, 2024)

This section summarizes the consolidated statement of profit and loss for the year ended March 31, 2024, compared with the year ended March 31, 2023.

• Revenue: Revenue from operations decreased from 35,972.17 to 35,176.31.
• Other Income: Increased from 201.67 to 738.32.
• Total Income: Slightly decreased from 36,173.84 to 35,914.63.
• Expenses:
  • Cost of materials consumed decreased from 17,123.80 to 15,666.26.
  • Purchases of stock-in-trade decreased from 583.26 to 405.41.
  • Changes in inventories of finished goods, work-in-progress and stock-in-trade increased from (328.46) to (99.92).
  • Employee benefits expense increased from 4,740.64 to 5,104.06.
  • Finance costs decreased from 34.11 to 22.37.
  • Depreciation and amortization expense increased from 980.11 to 1,219.17.
  • Other expenses decreased from 7,665.29 to 6,869.91.
• Profit Before Tax: Increased from 5,375.09 to 6,727.37.
• Tax Expense: Tax expense increased.
  • Current tax increased from 1,597.09 to 1,912.74.
  • Deferred tax increased from 21.64 to 27.49.
  • Tax adjustment of earlier years was (0.89).
• Profit After Tax: Increased from 3,756.36 to 4,788.03.
• Earnings per Equity Share: Increased. Both basic and diluted earnings per share rose from 149.75 to 190.88.

Consolidated Cash Flow Statement Summary (Year Ended March 31, 2024)

This section summarizes the consolidated cash flow statement for the year ended March 31, 2024, with comparative figures from the year ended March 31, 2023.

• Cash Flow from Operating Activities: Cash generated from operations increased from 5,736.10 to 6,395.10. Net cash generated from operating activities increased from 4,103.68 to 4,506.40.
• Cash Flow from Investing Activities: Net cash used in investing activities decreased from (3,748.81) to (4,317.47).
• Cash Flow from Financing Activities: Net cash used in financing activities was (98.94), compared to (118.15) in the previous year.
• Net Increase/(decrease) in cash and cash equivalents: Net increase in cash and cash equivalents was 89.99, up from 236.72.
• Cash and cash equivalents at the end of the year: Cash and cash equivalents at the end of the year were 573.76, compared to 495.73 in the previous year.

Share Capital Details

• The authorized share capital consists of 3,000,000 equity shares of Rs. 10 each, amounting to Rs. 300.00 Lakhs.
• The issued, subscribed, and fully paid-up capital comprises 2,508,370 equity shares of Rs. 10 each, totaling Rs. 250.84 Lakhs.
• Major shareholders include Mohan Bir Sahni and Kanwal Deep Sahni, each holding significant portions of the company's shares.
• The Board of Directors has proposed a dividend of Rs. 4 per share for the year ended March 31, 2024, compared to Rs. 3 per share in the previous year.

Reserves and Surplus Details

• Total reserves and surplus amounted to Rs. 25,401.35 Lakhs as of March 31, 2024. This includes Securities premium account, deferred government grant, foreign currency transaction reserve, general reserve and surplus in the statement of profit and loss.