AFM Project

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DHANUKA AGRITECH LIMITED .

NAME ENROLL NO
Naman Sharma 21BSPHH01C0733
Amirah Faiz 21BSPHH01C1005
HK AISHWARYA UNGARALA 21BSPHH01C1686
SANKET MOHANTY 21BSPHH01C1080

BRIEF HISTORY

Dhanuka Agritech Limited is India’s leading Agri-inputs manufacturer founded by


They have 3 state of the art manufacturing facility in Gujarat, Rajasthan and J&K
with Quality Testing Facilities and also 8 branch offices which serves approxim
75000 dealers across India. The company has more than 1000 techno-commer
and also a robust chain of distribution network for reaching out to around 10 m
products & services. They have solutions for all major crops grown in India and
comprising insecticides, herbicides, fungicides and plant growth/ Bio-stimulants
The company is listed in both NSE and BSE. The company is mentioned in Forbes
best under a Billion Companies in Asia Pacific and has also been awarded as Co
Argo Chemical category by FICCI in 2018.
LIMITED .

SEAT NO.
50
51
53
52

manufacturer founded by Shri R G Agarwal in 1980.


ujarat, Rajasthan and J&K which are well equipped
es which serves approximately 6500 distributors &
an 1000 techno-commercial staff with strong R&D
aching out to around 10 million farmers with their
crops grown in India and around 316 registrations
nt growth/ Bio-stimulants with more than 350 SKUs.
ny is mentioned in Forbes under the category “ 200
also been awarded as Company of the year under
ry by FICCI in 2018.
BALANCE SHEET OF DHANUKA AGRITECH LTD AS ON 31/03/2021

S.NO PARTICULARS NOTE NO


I EQUITY AND LIABILITIES
1 shareholders fund
a share capital 1
b reserves and surplus 2
c money received against share warrants
TOTAL EQUITY

2 share application money received allotment pending

3 non current liability


a long term borrowings 3
b differ tax liabilities 4
c other non current liabilities
d long term provision 5
TOTAL NON CURRENT LIABILITY

4 current liabilities
a short term borrowings 6
b trade payables 7
c other current liabilities 8
d short term provisions 9
TOTAL CURRENT LIABILITY

TOTAL EQUITY AND LIABILITY


II ASSETS
1 non current assets
a fixed assets
(i) tangible assets 10
(ii) intangible asset 11
(iii) capital work in progress 12
b non current investments 13
d long term loans and advances 15
e other non current assets 16
TOTAL NON CURRENT ASSETS
2 current assets
a current investments 17
b inventory 18
c trade receivables 19
d cash and cash equivalents 20
e short term loans and advancements 21
f other current assets 22
TOTAL CURRENT ASSETS

TOTAL ASSETS

CALCULATIONS & NOTES TO ACCOUNT

NOTE 1 : SHARE CAPITAL

PARTICULARS AS ON 31/03/21

Authorised share capital 2842.00


(142100000 equity shares of Rs 2 each)

Issued, subscribes, calledup and paidup capital


opening 951.57
issued during the period 0.00
buy back 20.00
closing 931.57
(4,65,78,324 equity shares of Rs. 2 each)

NOTE 2: RESERVES AND SURPLUS

PARTICULARS AS ON 31/03/21

Capital Reserve
Balance at the beginning of the Financial year 95.47
Addition during the Financial year 0.00
Deduction during the Financial yea 0.00
95.47
Capital Redemption Reserve
Balance at the beginning of the Financial year 48.82
Addition during the Financial year 20.00
Deduction during the Financial year 0.00
68.82
general reserve
Balance at the beginning of the Financial year 69673.90
Addition during the Financial year 21056.01
Less: Amount Utilised for Buy back of Equity shares -9980.00
Less : Amount Transferred to Capital Redemption Reserve on -20.00
Less : Tax Paid on Buy back of equity shares -2324.94
Remeasurements of the defined benefit plans through OCI 129.82
Dividend paid including Dividend Distribution Tax (DDT) 0.00
78534.79
total reserves and surplus 78699.08

NOTE 3: LONG TERM BORROWINGS

PARTICULARS AS ON 31/03/21

Security Received from Customers 1339.66


Lease Liability 3629.29
total 4968.95

NOTE 4 : DIFFER TAX LIABILITY

PARTICULARS AS ON 31/03/21

Property, plant and equipment & Intangible assets


opening 603.44
recognised in p&l 50.10
closing 653.54
Investment
opening 183.39
recognised in p&l 273.05
closing 456.44
total differ tax liability 1109.98
less total differ tax asset( note no:14) -280.51
net differt ax laibility 829.47
NOTE 5: LONG TERM PROVISION

PARTICULARS AS ON 31/03/21

provision for gratuity 33.60


provision for compensated absence 66.52
total long term provision 100.12

NOTE 6: SHORT TERM BORROWINGS

PARTICULARS AS ON 31/03/21

Cash Credit limits from BankS 0.00


Over Draft Against Pledge of FDR 835.84
total short term borrowings 835.84

NOTE 7: TRADE PAYABLES

PARTICULARS AS ON 31/03/21

Total outstanding dues of micro enterprises and small enterpr 619.39


Total Outstanding dues of creditors other than Micro Enterpr 10243.47
total trade payables 10862.86

NOTE 8: OTHER CURRENT LIABILITIES

PARTICULARS AS ON 31/03/21

Unclaimed Dividend 87.03


Capital Creditors 29.59
Other Payable 9967.37
Lease Liability 377.86
income tax payable 581.26
Advances from customers 3,193.63
Statutory dues payable 1,624.74
total other current liabilities 15861.48

NOTE 9: SHORT TERM PROVISION


PARTICULARS AS ON 31/03/21

Provision for Compensated absences 24.71


total short term provision 24.71

NOTE 10: PLANT, PROPERTY AND EQUIPMENT

Land_x0002_Free
Particulars hold

Gross Carrying Amount As at April 01, 2019 3,010.51


Additions 369.21
Disposals/Adjustments 0.00
Balance as at March 31, 2020 3,379.72
Balance as at April 1, 2020 3,379.72
Additions 7.2
Disposals/Adjustments 0.00
Balance as at March 31, 2021 3,386.92
Accumulated Depreciation As at April 01, 2019 0.00
Depreciation for the year 0.00
Disposals/Adjustments 0.00
Balance as at March 31, 2020 0.00
Depreciation for the year 0.00
Disposals/Adjustments 0.00
Balance as at March 31, 2020 3,379.72
Balance as at March 31, 2021 3,386.92

NOTE 11: INTANGIBLE ASSET

PARTICULARS AMOUNT

Gross Carrying Amount As at April 01, 2019 372.94


Additions 23.01
Balance as at March 31, 2020 395.95
Additions 2.63
Balance as at March 31, 2021 398.58
Accumulated Amortization As at April 1, 2019 118.31
Charge for the year 43.42
Balance as at March 31, 2020 161.73
Charge for the year 43.93
Balance as at March 31, 2021 205.66
Balance as at March 31, 2020 234.22
Balance as at March 31, 2021 192.92

NOTE 12: CAPITAL WORK IN PROGRESS

PARTICULARS AMOUNT

As at April 01, 2019 98.91


Additions 461.33
Less: Amount capitalized in Property, Plant and Equipment -193.3
Balance as at March 31, 2020 366.94
As at April 01, 2020 366.94
Additions 860.46
Less: Amount capitalized in Property, Plant and Equipment -468
Balance as at March 31, 2021 759.4

NOTE 13: NON CURRENT INVESTMENTS

PARTICULARS AS ON 31/03/21

Investment in Equity Instruments 0.09


Investment in Preference Shares 568.27
Investment in debentures or bond 3758.92
Investment in Mutual Funds 3421.44
unquoted investments 1281.00
total non current investments 9029.72

NOTE 14 :DIFFER TAX ASSET

PARTICULARS AS ON 31/03/21

Trade Receivables
opening -246.23
recognised in p&l 0
closing -246.23
Lease Liability
opening -6.69
recognised in p&l -27.59
closing -34.28
Amalgamation Expenses
opening
recognised in p&l
closing 0
total differ tax asset -280.51

NOTE 15: LONG TERM LOANS AND ADVANCES

PARTICULARS AS ON 31/03/21

Loans to employees 11.4


Loan to Subsidiary 11.56
Unsecured, Considered good 388.82
Doubtful 1.5
Less: Allowance for doubtful debts -1.5
total long term loans and advances 411.78

NOTE 16: OTHER NON CURRENT ASSETS

PARTICULARS AS ON 31/03/21

Capital Advance 43.45


Receivables from Govt. Authorities 70.57
Deposits with Public Authorities 58.4
Other Advances 9.76
Fixed Deposits with Banks 0.00
Prepaid expenses 209.38
total 391.56

NOTE 17: CURRENT INVESTMENT

PARTICULARS AS ON 31/03/21

Investment in Equity Instruments 8293.25


Investment in debentures or bonds 2104.75
Investment in Mutual Funds 8370.00
Total investment 18768.00

NOTE 18: INVENTORY

PARTICULARS AS ON 31/03/21
Raw materials 8,579.04
Packing materials 1,926.11
Work in Progress 596.56
Finished Goods 13,974.21
Stock in Trade 4,419.21
Store and spares 55.21
Total inventory 29550.34

NOTE 19: TRADE RECEIVABLES

PARTICULARS AS ON 31/03/21

Unsecured, Considered good 24,730.04


Less: Allowance for doubtful debts -463.66
total trade receivables 24,266.38

NOTE 20: CASH AND CASH EQUIVALENTS

PARTICULARS AS ON 31/03/21

Balance With Banks In Current Accoun 6.68


Cash on Hand 54.63
Cheques / Drafts In Hand 0.00
Fixed Deposits With Banks 0.00
Balance With Banks In Unpaid Equity Dividend Account 87.03
total cash and cash equivalents 148.34

NOTE 21: SHORT TERM LOANS AND ADVANCEMENTS

PARTICULARS AS ON 31/03/21

Loans to employees 68.46


Security Deposits 53.08
Unsecured, Considered good 3,900.00
Doubtful 645.71
Less: Allowance for doubtful debts -645.71
total 4021.54

NOTE 22: OTHER CURRENT ASSETS


PARTICULARS AS ON 31/03/21

Fixed Deposits with Banks 3,369.74


Interest Accrued on Loans and Investment 43.65
Claim Receivable 1,614.68
Advance Income Tax 0.00
Prepaid expenses 29.63
Advances To Vendor 793.09
Receivables from Govt. Authorities 3,193.91
Other Advances 28.22
total 9072.92
AS ON 31/03/2021
values in lakhs
VALUES AS ON VALUES AS ON
31/03/2021 31/03/2020

931.57 951.57
78699.08 69818.19

79630.65 70769.76

0.00 0.00

4968.95 1600.38
829.47 533.91
0.00 0.00
100.12 568.85
5898.54 2703.14

835.84 798.49
10862.86 11321.10
15861.48 7613.15
24.71 25.58
27584.89 19758.32

113114.08 93231.22

16501.18 11510.89
192.92 234.22
759.40 366.94
9029.72 9914.81
411.78 389.65
391.56 4177.94
27286.56 26594.45

18768.00 5971.91
29550.34 24985.70
24266.38 24240.86
148.34 2628.84
4021.54 3144.67
9072.92 5664.70
85827.52 66636.68

113114.08 93231.13

OUNT

in lakhs
AS ON 31/03/20

2842.00

951.57
0.00
0.00
951.57

AS ON 31/03/20

95.47
0.00
0.00
95.47
48.82
0.00
0.00
48.82

63126.16
14146.50
0.00
0.00
0.00
-371.62
-7227.14
69673.90
69818.19

AS ON 31/03/20

1342.43
257.95
1600.38

AS ON 31/03/20

1095.33
-491.89
603.44

311.67
-128.28
183.39
786.83
-252.92
533.91
AS ON 31/03/20

496.84
72.01
568.85

AS ON 31/03/20

0.82
797.67
798.49

AS ON 31/03/20

693.34
10627.76
11321.10

AS ON 31/03/20

106.37
68.52
5587.84
231.07
0.00
1,026.14
593.21
7613.15
AS ON 31/03/20

25.58
25.58

Furniture Office Power Gen.


Buildings Plant & Equipment & Fixtures Vehicles Equipments Plant

7,290.01 2,913.26 171.91 352.85 475.39 950.74


0.00 288.92 2.52 59.62 118.08 0
-410.58 -14.76 -0.13 -32.95 -9.7 0
6,879.43 3,187.42 174.3 379.52 583.77 950.74
6,879.43 3,187.42 174.3 379.52 583.77 950.74
2,315.73 117.68 4.49 6.93 116.47 0
-3.8 -12.17 -0.47 -11.18 -12.12 0
9,191.36 3,292.93 178.32 375.27 688.12 950.74
1,724.57 1,203.59 96.62 111.41 327.63 266.48
451.12 327.73 20.82 78.56 91.55 79.13
-106.14 -8.35 -0.07 -23.55 -5.45 0
2,069.55 1,522.97 117.37 166.42 413.73 345.61
440.12 301.84 16.91 65.68 98.62 69.97
-0.8 -7.69 -0.34 -8.53 -9 0
4,809.88 1,664.45 56.93 213.1 170.04 605.13
6,682.49 1,475.81 44.38 151.7 184.77 535.16
AS ON 31/03/20

17.48
530.08
4552.63
4814.62
0.00
9914.81

AS ON 31/03/20

-184.61
-61.62
-246.23

0.00
-6.69
-6.69

-1.72
1.72
0
-252.92

AS ON 31/03/20

15.28
11.56
362.81
0.00
0.00
389.65

AS ON 31/03/20

1,784.26
80.34
58.06
8.41
2,217.54
29.33
4177.94

AS ON 31/03/20

219.00
0.00
5752.91
5971.91

AS ON 31/03/20
7,875.38
1,547.09
689.12
11,265.37
3,535.90
72.84
24985.70

AS ON 31/03/20

24,704.52
-463.66
24,240.86

AS ON 31/03/20

216.29
102.1
2.54
2,201.54
106.37
2628.84

AS ON 31/03/20

92.37
202.3
2,600.00
545.71
-295.71
3144.67
AS ON 31/03/20

0.00
51.5
1,163.19
457.15
315.67
1,814.22
1,760.70
102.27
5664.70
INTERPRETATION

Danuka Agritech Ltd bought back 10,00,000 equity shares having face value of Rs.2 each resulting in a reduction of equity shar
company
As per theholds 4,65,78,324
statutory sharesofofbuy
requirement Rs.2back
each.
anBuy back of
amount wasRs.done as the i.e
20,00,000 company hadof
face value surplus
sharesfunds andback
bought it will enhance
mustbe the
tranfer
Rs.2000000 is reduced from general reserve and added to capital redemption reserve.
Since the buy back was made at a price of Rs 1000 per share, the premium amount 99,80,00,000 i.e. ((1000-2)x1000000) is red
profit for the year 2021, amounting to Rs.2,10,56,01,000 is added to general reserve.
Tax paid on buy back of Rs. 232494000 is reduced from general reserve
Other comprehensive income for the year 2021 is Rs.50144000, reducing previous year loss of 37162000 the company has a b
The annual reports did not disclose any dividend distribution tax as the dividend was not declared by that time. However the b
The customer security reduced by Rs.277000, indicating that customers paid off their dues and released their securities
The lease liability increased by 337134000, indicating the company has taken additional lease in the year.
The company has recognised an expense of Rs.387.14 for gratuity and Rs.226.38 for compensation absence
The company repaid all its cash credit limits from bank, however its overdrafts against pledge of FDrs increased by 4.8%
The company repaid Rs. 45824000 of its outstanding dues.
Rs.1934000 of unclaimed dividend is transferred to Investor Education and Protection Fund
The companies current liablities increased by 108%
The companies tangile assets increased due to new additions made during the year
The intangible assets of the company also increased due to charge of the intagible asset
The company diversified its investments into equity, debentures, prefernce shares, mutal funds etc, thereby reducing their ris
The company provided various loans to employees and subsidary , it also incurred bad debts of 1500000 which is adjusted aga
The company is maintaining an inventory worth Rs. 2955034000
The companies trade receivables are maintained at the same range
The cash and cash equivalents have reduced drastically by 90%
Though the outbreak of covid 19 effected the financials of many companies, it didn’t effect Dhanuka Agritech Ltd as the comp
The debt equity ratio of the company is 0.01
It has 26.44% return on networth
The current ratio is 3.11
The company enjoys 17.49% debtor turnover and 21.3% inventory tunover.
the overall financial performance of the company is satisfactory.
Right-
of_x000
2_use
Asset Total

0 ###
1,155.20 1,993.55
0 -468.12
1,155.20 ###
1,155.20 ###
3,910.11 6,478.61
-477.15 -516.89
4,588.16 ###
0.00 3,730.30
543.56 1,592.47
0.00 -143.56
543.56 5,179.21
480.93 1,474.07
-476.28 -502.64
611.64 ###
4,039.95 ###
RETATION

g in a reduction of equity share capital by 20,00,000, earlier the company held 47578324 shares of Rs. 2 each, now the
sfunds
boughtandback
it will enhance
mustbe the EPStoofcapital
tranfered the company.
redemption reserve .The transfer is made from general reserve, therefore

0 i.e. ((1000-2)x1000000) is reduced from the general reserve.

7162000 the company has a balance OCI of 12982000 which is added to general reserve
ed by that time. However the board of directors proposed a dividend of Rs.2 per share
eleased their securities
the year.
on absence
FDrs increased by 4.8%

etc, thereby reducing their risk .


1500000 which is adjusted against provision for bad debts.

nuka Agritech Ltd as the company's products are covered under essential services.
STATEMENT OF PROFIT AND LOSS (SOPL)

Particulars Note No.

I Revenue from Operations 24

II Other Income 25

Total Revenue (I+II)


EXPENSES

Cost of materials consumed 26

Employee Benefit Expenses 29

Depreciation and Amortization Expense 31

Total Expenses

Earnings per Equity Share

1) Basic (in Rupees) 35

2) Diluted (in Rupees) 35

Footnote: The Note Numbers have been kept same as Annual report for better cross-

Basis of Preparation & Calculations


i) Financial Statements are prepared in accordance with "IndAS" as per the rules specified in Companies Ac
The Financial statements are prepared on an
ii)
accrual basis and under the historical cost convention

iii) Depreciation on property, plant and equipment is


provided onWritten Down Value Method (WDV)
iv) Amortization is recognized on a straight line basis over their estimated useful lives

v) Earnings per share (EPS) is calculated by dividing the net


profit/ loss by the weighted average number of equity shares.

vi) Diluted earnings per Share - the net profit or loss for the period & weighted average number of shares are
equity shares.

Notes To Accounts For Reference and Calculations

Note
24  Revenue From Operations

Particulars

I Revenue From Operations


Sales of products
Finished Goods
-Agrochemical
Traded Goods
-Agrochemical
(A)
II Other operating revenues
Income From Power Generation Plant
Scrap Sales
Tax Incentive from Govt.
(B)
III Total Revenue (A)+(B)

Note
25 Other Income

Particulars
Interest Income on Financial Assets at amortised cost

Dividend Income

Net Gain on sale of investments

Net Gain on Investments measured at fair value through profit or loss

Other Non-Operating Income

Rent Received

Miscellaneous Receipts

Net Gain On Foreign Currency Transactions


Net Profit on disposal of property, plant and equipment

Liabilities No Longer Required, Written Back

Note Cost of Material Consumed


26

Particulars

Raw Materials

Inventories at the beginning of the Financial


year

Add : Purchases
Less : Inventories at the end of the Financial
year
Cost of Raw Material Consumed (A)

Packing Materials
Inventories at the beginning of the Financial
year
Add : Purchases
Less : Inventories at the end of the Financial
year
Cost of Packing Materials Consumed (B)

(A)+(B)

Note Employee Benefit Expenses


29

Particulars

Salaries, wages and bonus

Contribution to Provident & Other funds

Gratuity

Compensated absences

Staff Welfare Expenses

Note
31 Depreciation and Amortization Expense

Paticulars

Depreciation on Property,Plant & Equipment

Amortization of Intangible Assets

Note Earnings per Equity Share


35

Particulars
Net Profit for Basic & diluted EPS (In Lacs)

Number of Equity Shares at the beginning of the year

Add: Shares issued during the year

Less : Shares bought back during the year

Total Number of Shares outstanding at the end of the year

Weighted Average number of Equity Shares outstanding during the year

Earnings Per Share - Basic

Earnings per share - Diluted

Face value per share


OFIT AND LOSS (SOPL)

(Rupees in lacs)
For the Year ended For the Year ended
Year on Year Change
March 31, 2021 March 31, 2020
138,746.87 112,007.08 26,739.79

3,370.27 2,508.84 861.43

142,117.14 114,515.92 27,601.22

75,710.06 58,244.88 17,465.18

11,826.69 10,522.81 1,303.88

1,518.00 1,635.89 -117.89

113,623.47 96,451.72 17,171.75

₹ 44.61 ₹ 29.73 ₹ 14.88

₹ 44.61 ₹ 29.73 ₹ 14.88

kept same as Annual report for better cross-verification and referencing.

s of Preparation & Calculations


" as per the rules specified in Companies Act 2013
estimated useful lives

od & weighted average number of shares are adjusted for the effects of all dilutive potential

counts For Reference and Calculations

Rupees in Lacs

For the Year ended For the Year ended


31-Mar-21 31-Mar-20

1,20,465.38 94,983.67

16,736.46 15,878.24
1,37,201.84 1,10,861.91

154.22 171.78
237.76 317.77
1,153.05 655.62
1,545.03 1,145.17
1,38,746.87 1,12,007.08

For the Year ended For the Year ended


31-Mar-21 31-Mar-20
1,569.53 1,124.69

- 291.1

335.87 83.58

1,129.71 380.77

9.14 9.83

39.39 360.43

252.42 -
22.84 8.91

11.37 249.53

3,370.27 2,508.84

For the Year ended For the Year ended


31-Mar-21 31-Mar-20

7,875.38 4,479.71

68,645.32 54,980.10

-8,579.04 -7,875.38

67,941.66 51,584.43

1,547.09 1,742.59

8,147.42 6,464.95

-1,926.11 -1,547.09
7,768.40 6,660.45

75,710.06 58,244.88

For the Year ended For the Year ended


31-Mar-21 31-Mar-20
10,798.42 9,435.89

388.5 428.03

163.44 125.26

226.38 289

249.95 244.63

11,826.69 10,522.81

For the Year ended For the Year ended


31-Mar-21 31-Mar-20
1,474.07 1,592.47

43.93 43.42
1,518.00 1,635.89

For the Year ended For the Year ended


31-Mar-21 31-Mar-20
21,056.01 14,146.50

47578324 47578324

- -

1000000 -

46578324 47578324

47197502.08 47578324

₹ 44.61 ₹ 29.73

₹ 44.61 ₹ 29.73

₹ 2.00 ₹ 2.00
INTER

There's an increase in Revenue from operation by 26,739.79


lacs
There's an increase in revenue from other income by 861.43
lacs

There's an increase in overall revenue by 27601.22 lacs

There's an increase in Expense from cost of material consumed


by 17465.8

There's an increase in Employee benefit expense by 1,303.88

There's an decrease in Depreciation and Amortization expense


by 117.89

Onverall there's an increase in Total expense by 17171.75

There's an increase in EPS by 14.88

There's an increase in Diluted EPS by 14.88


INTERPRETATION

The increase in revenue can be attributed to the increased sales of Agrochemical


products
The increase in revenue can be attributed to income from power generation,
scrap sales and govt. incentives
The increase in revenue can be attributed to the increased revenue from
operation and other income

The increase in cost of material consumed can be attributed to increase in the


production due to demand.

The increase in Employee benefits expenses due to increased employee intake or


increase in base salary.

The decrease in depreciation and amorthisation can be attributed to computer


softwares becoming cheaper each day as technology advances.
There is an overall increase in expenditure due to increased production,
employee expenses and other expenses.

There is an increase in earnings per share attributed to increased financial


positioning, production levels.
There is an increase in diluted earnings per share attributed to increased
financial positioning, production levels.
The reason can be increasing demand of agrochemical to fulfill the food requirements of
country's growing population.
The reason can be increasing demand of power and government giving additional incentives
to agriculture industry.
The increase in revenue is can be seen on a postive note as company is in a better financial
position and on a growth tangent
STANDALONE STATEMENT OF CASH FLOW
Rupees(In Lakhs)

PARTICULARS
A. CASH FLOW FROM OPERATING ACTIVITIES
Prot / (Loss) Before Tax
Adjustments for:
Depreciation, amortization and impairment expenses
Net (Gain)/Loss on Sale of Property, Plant and Equipment
Finance Costs
Interest Income
Dividend Income from Investments -
Net (Gain)/Loss on Sale of Investments
Net (Gain)/Loss on Investments measured at fair value through prot or loss
Allowance for Bad and Doubtful debts & Advances
Liabilities No Longer Required, Written Back
Forex Fluctuation on Translation of Assets & Liabilities

Operating Profit/(loss) before Working Capital changes


(Increase) / Decrease in Trade Receivables
(Increase) / Decrease in Current financial assets - Loans
(Increase) / Decrease in Non Current financial assets - Loans
(Increase) / Decrease in Other Current financial assets
(Increase) / Decrease in Other Non Current financial assets -
(Increase) / Decrease in Other Current assets
(Increase) / Decrease in Other Non Current assets

(Increase)/ Decrease in Inventories


Increase / (Decrease) in Trade Payables
Increase / (Decrease) in Other Current Financial Liabilities
Increase / (Decrease) in Other Non Current Financial Liabilities
Increase / (Decrease) in Other Current Provisions
Increase / (Decrease) in Other Non Current Provisions
Increase / (Decrease) in Other Current Liabilities
Cash generated (used) in /from Operations before tax
Net Direct Taxes paid (Net of Refunds)
Net cash flow (used) in/ from Operating Activities

B. CASH FLOW FROM INVESTING ACTIVITIES


Acquisition of Property, Plant and Equipment (Including Adjustment on account of
Intangible Assets, Capital work in Progress, Capital Creditors and Capital Advances)
Proceeds from sale of Property, Plant and Equipment
Loan given to Corporate and Other
Repayment of Loan given to Corporate and Other
Investment in Bank Deposits
Purchase and sale of Investments (Net)
Interest Received

Dividend Income from Investments -


Net cash flow (used) in/ from Investing Activities
Net cash (used) in/ from Operating and Investing Activities

C. CASH FLOW FROM FINANCING ACTIVITIES


Short Term Borrowings (Net)
Payment of Principal portion of Lease Liabilities
Payment of Dividend -
Taxes on Dividend -
Buy Back of Shares -
Taxes on Buy Back of Shares -
Interest Paid
Net cash (used) in/ from Financing Activities

Net cash (used) in/ from Operating, Investing & Financing Activities
Opening balance of Cash and Cash equivalent
Closing balance of Cash & Cash equivalent
Cash and cash equivalents:-
i) Cash Balance on Hand
ii) Balance with Banks :
In Current Accounts

In Fixed Deposits -
Cheques in hand
Total
NE STATEMENT OF CASH FLOW
Rupees(In Lakhs)

For the Year ended For the Year ended Percentage Change( From
March 31, 2021 March 31, 2020 Mar 2020-Mar 2021)

28493.67 18064.2 57.74%

1518 1635.89 -7.21%


(22.84) (8.91) 156.34%
269.38 155.69 73.02%
(1,569.53) (1,124.69) 39.55%
(291.10) -100.00%
(335.87) (83.58) 301.85%
(1,129.71) (380.77) 196.69%
351.50 450.06 -21.90%
(11.37) (249.53) -95.44%
(39.25) 109.36 -135.89%

27,523.98 18,276.62 50.60%


(25.52) (2,504.32) -98.98%
173.13 (56.25) -407.79%
(49.96) (160.78) -68.93%
(451.49) 5,329.22 -108.47%
32.88 -100.00%
(51.89) (1,563.10) -96.68%
(171.97) 12.39 -1487.97%

(4,564.64) (4,302.69) 6.09%


(417.47) 3,702.51 -111.28%
4,379.81 1,431.36 205.99%
(2.50) 57.10 -104.38%
(0.87) (1.97) -55.84%
(338.91) (45.75) 640.79%
3,208.31 (362.39) -985.32%
29,210.01 19,844.83 47.19%
(6,103.69) (3,634.67) 67.93%
23,106.32 16,210.16 42.54%
(1261.71) (1371.95) -8.04%
36.16 333.48 -89.16%
(1900) (4500) -57.78%
500 4600 -89.13%
(1152.2) (1265.98) -8.99%
(10445.43) (3614.74) 188.97%
1561.53 1096.12 42.46%

291.1 -100.00%
(12661.65) (4431.97) 185.69%
10444.67 11778.19 -11.32%

37.35 (1,422.76) -102.63%


(348.86) (495.62) -29.61%
(5,994.87) -100.00%
(1,232.27) -100.00%
(10,000.00)
(2,324.94)
(269.38) (155.69) 73.02%
(12,905.83) (9,301.21) 38.75%

(2,461.16) 2,476.98 -199.36%


2,522.47 45.49 5445.11%
61.31 2,522.47 -97.57%

54.63 102.10 -46.49%

6.68 216.29 -96.91%

2,201.54 -100.00%
2.54 -100.00%
61.31 2,522.47 -97.57%
INTERPRETATIONS

Interpretation of Cash flow from operating activitie

The PBT of company for year ending Mar 31 2021 is obtained by substracting total expenses from total revenue in S
The companies net cash flow from operating activities increased by 42.54% which is tremendous growth and it is ma
a) The profit before tax has grown by 57.74% which is due to increase in its sales.
b) There is an increase of 73% in its gain from sales of PPE.
c)There is a 300% rise in the gain from sale of its investment over previous year.
d) In year 2019-20 the company saw increase in its current financial assets because of loans given and in next year it
e)The other current financial liabilities rose by 205% which means company took long term loan&borrowings for inv
f)The forex fluctuatuations saw a decrease of 135% may be due to companies export/imports of products or may be
g) For the year ending Mar 31 202 the company paid other current liabilities worth 362.39 lakhs whereas the next y
of their increase in advances from customers and other statutory dues payable.

Interpretation of Cash flow from investing activities


There is an 8% decrease in acquisition of PPE Y-o-Y which may be due to company not spending much in acquisition
The company's proceeds from PPE decreased 89.16% which can be because the company didn’t sold any PPE in FY 2
The loan given to corporates saw a significant reduction of 57%.
The loan repayed by corporates also decreased by 89% which is because they didn’t repay much amount in FY 20-21
Investment in bank deposits have reduced by 9% which means company may be investing where ROI is more than b
The company invested 188% more as compared to previous year which is a good sign of growth.
Interest received by the company from its investment increased by 42.46% which signifies companies investment de
The company didn’t receive any dividend in FY 20-21 whearas previous year it received net dividend of 291 lakhs ma
dividend yielding stocks.
The net cash used in investment activity increased by 185% which means it has believe in its future growth.

Interpretation of Cash flow from financing activities


The company paid short term borrowing in FY 19-20 whereas it took borrowing of 37 lakhs in FY 20-21.
The principal portion payment decreased by 29%.
The company paid a dividend of 5994.87 lakhs in FY 19-20 whereas no dividend was paid in current year.
Taxes on dividend paid accounts to 1232.27lakhs.
The company bought its own share in FY 20-21 which signifies the trust its promoters have on company's future.

The interest paid by the company increased by 73% which may be because of its current borrowings.
The net cash used in financing activities increased by 38.75% which means company is borrowing more funds for its
The net cash used in operating,investing and financing activities is 2461.16 lakhs which means the company on who
previous year.

To verify our calculations we can check that opening and closing of cash & cash equivalents matches with our net ca

The company has significantly reduced its fixed deposit by 100% which is magnificient change in its investing approa
more returns.
REPORTS

Management Discussion and Analysis Report


1. Dhanuka Agritech Limited is one of the leading agrochemical companies and had a wide distribution ne
million farmers.
2. It has established many strategic relationships and has collaborated with leading global agrochemical co
3.The companies product portfolio is mainly distributed across insecticides, herbicides and fungicides. Inse
4. The company wants to transform India through agriculture and for achieving this goal they have taken i
about the sales process and how it can help the farmers with crops and other problems. This new innovati
demand and supply and it also provides an automatic order processing and availability of products.
5. Dhanuka is continuing to be debt-free, because of its excellent financial management. ICRA has rated it
of 31st March 2021 is Rs.796.31 crores.
6. During the Covid-19 pandemic , the company was effected negatively in sales and manufacturing but ev
employees safety was taken seriously.
7. The revenue from insecticide segment was 43% in FY 2019-20 but it decreased to 41% in the FY 2020-21
the FY 2020-2021. Herbicides garnered 30% revenue in the FY 2020-2021 which is 1% more than the FY 20

1. Revenue from Operations (Net of Excise) increased by 24% from Rs. 1120.07 Crores in FY 2019-220 to R
2. Net profit increased by 49% from Rs. 141.47 Crores in FY 2019-20 to Rs. 210.56 Crores in FY2020-21
3. The Company reported an EPS of Rs. 44.61 in FY 2020-21 compared to Rs. 29.73 in FY 2019-20
4. Profit before tax increased by 57.74% from Rs. 180.64 Crores in FY 2019-20 to Rs. 284.94 Crores in FY 20
210.56 Crores in FY2020-21.
5. The company plans to set up a plant for manufacturing of pesticides on a plot of 137000 sq meters at da
6. The company has one completely owned subsidiary company named Dhanuka Agri solutions private lim
directors have decided to liquify it in the meeting held on 2nd February.
7. The directors have recommended a dividend @ 100% i.e., Rs 2 per equity share which has a face value o
absorb Rs 932 crore.
8. During this year the company has not transferred any amount to general reserves and has not accepted
9. The company has launched new products in the financial year 2020-2021 like Dabooch (Diclosulam 84 %
(Pretilachlor 30.7% EC), Nissodium (Cyufenamid 5% EW) and many other.
Corporate governance report
1.The Board has a combination of Executive, Non-Executive, and Woman Director. As of March 31, 2021, t
Directors, which comprises seven Independent Directors including one Woman Independent Director and
Chairman and one is the Managing Director.
2. Dhanuka's philosophy on Corporate Governance is embedded withinside the legacy of moral governanc
Business Decisions.
3. It believes that the outcome of a Good Corporate Governance depends on the enhancement of values o
direction of all stakeholders with integrity, equity, transparency, fairness, disclosure, accountability, and c
4. Unaudited Standalone, Consolidated Quarterly and Annual Audited Financial Results of the company, ar
end of the quarter.
5. The Approved Results are delivered to Stock Exchanges where Company is listed and gets published wit
Newspaper.
Auditor’s report
1. The provisions for sales returns, discounts, rebates, schemes and many other things are estimated.
2. Discounts sales and incentives are presented in standalone Ind AS financial statements , revenues from
3. It is Auditor’s responsibility to make sure that there are no mistakes in the standalone Ind AS financial
their opinions
4. The auditors perform certain steps to obtain audit evidence regarding adequacy of the internal financ
effectiveness.
Auditor’s report
1. The provisions for sales returns, discounts, rebates, schemes and many other things are estimated.
2. Discounts sales and incentives are presented in standalone Ind AS financial statements , revenues from
3. It is Auditor’s responsibility to make sure that there are no mistakes in the standalone Ind AS financial
their opinions
4. The auditors perform certain steps to obtain audit evidence regarding adequacy of the internal financ
effectiveness.
REPORTS

d had a wide distribution network of distributors and retailers which provides a touchpoint to more than 10

ding global agrochemical companies from the US, Japan and Europe.
rbicides and fungicides. Insecticides are the major contributors to the company’s overall revenue.
g this goal they have taken initiatives line increasing the farmers pay. The company’s latest innovation is
problems. This new innovation is helping the company with problems like inventory cost, the uncertainty of
ailability of products.
nagement. ICRA has rated it AA based on fund base limits and AI+ on non-fund-based limits. Its net worth as
es and manufacturing but eventually has overcome the problem. All Covid-19 protocols were followed and

ed to 41% in the FY 2020-21. The revenue from fungicides was 15% in the FY 2019-2020 it increased by 2% in
h is 1% more than the FY 2019-2020.

Director’s report:
7 Crores in FY 2019-220 to Rs. 1387.47 Crores in FY 2020-21.
.56 Crores in FY2020-21
9.73 in FY 2019-20
to Rs. 284.94 Crores in FY 2020-21.Net profit increased by 49% from Rs. 141.47 Crores in FY 2019-20 to Rs.

ot of 137000 sq meters at dahej, Gujarat acquired in 2013.


ka Agri solutions private limited, incorporated in Bangladesh which has not started yet, hence the board of

are which has a face value of Rs 2/- each for the year 2020-2021, which if approved by the shareholders will

erves and has not accepted any deposits from public.


e Dabooch (Diclosulam 84 % WDG), Dozo Maxx (Pyrithiobac Sodium 6% +Quizalofop Ethyl 4% MEC), Craze-D

tor. As of March 31, 2021, the Board consists of Fourteen Directors, out of which Eight are Non-Executive
n Independent Director and Six Executive Directors. Out of the Six Executive Directors, one is the Executive
e legacy of moral governance practices, devoted to introduction of values with the aid of taking precept

he enhancement of values of Shareholders' and permits the Company to fulfil its responsibilities in the
osure, accountability, and commitment.
l Results of the company, are approved by the Board of Directors of the Company within 45 days from the

sted and gets published within 48 hours in Financial Express i.e. English Newspaper and Hindi leading

her things are estimated.


l statements , revenues from sales of products are depicted in net of returns.
standalone Ind AS financial statements due to errors or frauds and issue and auditors report which includes

quacy of the internal financial controls system in reference to Financial Statements and their operating
her things are estimated.
l statements , revenues from sales of products are depicted in net of returns.
standalone Ind AS financial statements due to errors or frauds and issue and auditors report which includes

quacy of the internal financial controls system in reference to Financial Statements and their operating

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