CASHFLOW ANALYSIS

By – Group 10, Section - C

[P23145] Ankit Mohapatra

[P23146] Ashmika Karnik
[P23149] Chandrashekhar Patil
[P23198] Upmanyu Chaudhary
[P23199] Vidisha Patil
HINDWARE HOME INNOVATION

ANALYSIS

FY23:

+ve Cash Flow from Operating Activities

-ve Cash Flow from Investing Activities

+ve Cash Flow from Financing Activities

FY22:

+ve Cash Flow from Operating Activities

-ve Cash Flow from Investing Activities

-ve Cash Flow from Financing Activities

Key Takeaways:

• Net cash generated by operating

activities is almost same as
previous FY indicating stable
business operations.
• 468% increase in spendings from
investing activities in comparison
to FY22 indicating substantial
purchase of fixed assets or
acquisition or investments.
• Substantial turnaround in cash flow
from financing activities of ~₹55K
Lakhs from -ve in FY22 to +ve
indicating significant borrowings

Overall, HINDWARE has stable +ve

cashflow from operations and has
increased its debt to fund investments
indicating its long-term planning for
expansion which is a good indication.
SYMPHONY

ANALYSIS

FY23:

+ve Cash Flow from Operating Activities

-ve Cash Flow from Investing Activities

-ve Cash Flow from Financing Activities

FY22:

+ve Cash Flow from Operating Activities

+ve Cash Flow from Investing Activities

-ve Cash Flow from Financing Activities

Key Takeaways:

• Net cash generated by

operating activities increased by
120% as compared to indicating
improvement in core
operations. This is due to
decrease in trade receivables .
• ~₹17.7Cr increase in spendings
from investing activities in
comparison to FY22 due to
purchase of fixed assets or
acquisition or investments.
• Substantial increase in cash
outflow from financing activities
of by ~267% primarily due to
repayment of borrowings.

Overall, SYMPHONY has had significant

improvement in its operations and is on
the way to repay its debts while
increasing investments a sound
financial health
VOLTAS

ANALYSIS

Cash Flow from Operating Activities:

• In FY23, Voltas' net cash flow from

operating activities declined
noticeably to ₹159.38Cr, suggesting
a sharp decline in the amount of
cash it generated from its core
operations.
• This is due to increase in interest
income, comparative increase in
share loss of joint ventures and
increase in financial assets.

Cash Flow from Investing Activities:

• In FY23, the company had

significant cash outflows in
investing activities, net -₹81.6 Cr.
• In FY22, the company had cash
outflows in investing activities,
more significant at -₹364.63Cr. This
suggests the company made
substantial investments in assets
like PPE, investment in FDs and
significant investments.

Cash Flow from Financing Activities:

• In FY23, Voltas had large cash

outflows from financing activities &
more proceeds from borrowings
amounting to ₹55.05Cr. These
outflows include repayments of
borrowings, payment of interests,
liabilities & dividends.
• In FY 2021-22, the company had
smaller cash outflows and less
proceeds from borrowings from
financing activities at -₹107.04Cr.
crores
HCL INFOSYSTEMS

ANALYSIS

Cash Flow from Operating Activities:

• In FY23, cash flow from

operating activities declined to
₹73.57Cr, suggesting a sharp
decline in the amount of cash it
generated from core
operations.
• This is due to increase in
interest income on fixed
deposits, decrease in current
and non-current assets.

Cash Flow from Investing Activities:

• In FY23, there was significant

cash outflows in investing
activities, totalling -₹15.21Cr.
This suggests the company
made substantial investments
in assets like PPE, investment in
FDs & significant investments.
• In FY22, the company also had
cash outflows in investing
activities, less significant at
₹20.78Cr.

Cash Flow from Financing Activities:

• In FY23, company had large

cash outflows from financing
activities & more proceeds
from borrowings amounting to
-₹61.88Cr. These outflows
include repayments of
borrowings, payment of
interests & dividends.
• In FY22, there was smaller cash
outflows & less proceeds from
borrowings from financing
activities at -₹138.63Cr
BLUE STAR

CASH FLOW ANALYSIS

FY 2022-23
• Net cash generated from
Operating Activities (A) is
₹247.38 cr
• Net cash used in Investing
Activities (B) is -₹181.6 cr
• Net cash used in Financing
Activities (C) is -₹91.08 cr
• Cash equivalents at the
end of FY 2022-23 are
₹243.33cr

FY 2021-22
• Net cash generated from
Operating Activities (A) is
₹87.40 cr
• Net cash used in Investing
Activities (B) is -₹69.01 cr
• Net cash used in Financing
Activities (C) is -₹82.37 cr
• Cash equivalents at the
end of FY 2022-23 are
₹265.65cr
KEY FINDINGS
Operating Activities
1. The net cash generated from operating activities has increased significantly
from ₹87.40 cr in FY 21-22 to ₹247.38 cr in FY 22-23, denoting that the
company is generating more cash from it’s core business activities.
2. This is due to increase in revenue from operations, trade receivables,
inventories and increase in other liabilities.
3. Positive cash flow in operating activities signifies that the company’s sales have
exceeded it’s operating expenses which is a positive sign.

Investing Activities
1. The cash used in investing activities has increased significantly from ₹69.01 cr
in FY 21-22 to ₹181.6 cr in FY 22-23 indicating that the company is allocating
more of its cash toward investments in assets like property, plants and
equipment and intangible assets that are not directly related to its core
operations.
2. Negative cash flow from investing activities signifies that the company is
investing in infrastructure and assets to improve it’s operations and for it’s
growth.
Financing Activities
1. The cash used in financing activities has increased, not so significantly though,
from ₹82.3 cr in FY 21-22 to ₹91.08 cr in FY 22-23.
2. This increase is due to the proceeds from short term borrowings ,increase in
repayment of non current borrowings and increase in the amount of dividend
paid.
3. This increase in cash outflow signifies that the company is looking for it’s
expansion by investing in assets (the purchase of properties and plant has
increased in the investing activities).
HONEYWELL AUTOMATION INDIA

CASH FLOW ANALYSIS

FY 2022-23
• Net cash generated from
Operating Activities (A) is
₹40,988 lakhs
• Net cash used in Investing
Activities (B) is -₹12,929 lakhs
• Net cash used in Financing
Activities (C) is -₹10,203 lakhs
• Cash equivalents at the end of
are ₹48,093 lakhs

FY 2021-22
• Net cash generated from
Operating Activities (A) is
₹26,358 lakhs
• Net cash used in Investing
Activities (B) is -₹10,935 lakhs
• Net cash used in Financing
Activities (C) is -₹9,853 lakhs
• Cash equivalents at the end of
are ₹29,068 lakhs
KEY FINDINGS
Operating Activities
1. The net cash generated from operating activities has increased significantly
from ₹26,358 lakhs in FY 21-22 to ₹40,988 lakhs in FY 22-23, denoting that
the company is generating more cash from it’s core business activities.
2. This is due to increase in revenue from operations, trade receivables,
inventories and increase in other liabilities.
3. Positive cash flow in operating activities signifies that the company’s sales have
exceeded it’s operating expenses which is a positive sign.

Investing Activities
1. The cash used in investing activities has increased significantly from ₹10,935
lakhs in FY 21-22 to ₹12,929 lakhs in FY 22-23 which is due to a significant
increase in the amount of payments for property, disposal of property , plant
and equipment and due to increase in the interest received indicating that the
company is allocating more of its cash toward investments in assets like
property, plants and equipment and intangible assets that are not directly
related to its core operations.
2. Negative cash flow from investing activities signifies that the company is
investing in infrastructure and assets to improve it’s operations and for it’s
growth.
Financing Activities
1. The cash used in financing activities has increased, not so significantly though,
from ₹9,853 lakhs in FY 21-22 to ₹10,203 lakhs in FY 22-23.
2. This increase is due to increase in repayment of lease liabilities and increase
in the amount of dividend paid.
3. This increase in cash outflow signifies that the company is looking for it’s
expansion by investing in assets (the purchase of properties and plant has
increased in the investing activities).
DIXON TECHNOLOGIES
Cash Flow Interpretation of DIXON:
1. Cash Flow from Operating Activities:
• In FY 23 the cash from ops was Rs 72,575 Lakh; in FY 22, it was Rs 27,276 Lakh. This
positive cash flow indicates the very healthy financial status of the company. The cash
increase is Rs 45299Lakh from FY22, an increase of 166%.
• The jump of 166% is due to significant decrease in trade payables and savings from
depreciation.
• This huge cash generated from cash flow allows the company to fuel its expansion by
leveraging its financial position.

2. Cash Flow from Investing activity:

• Cash flow in FY 23 from investing is (35,555) Lakh and in FY 22 was (46446) . The
majority capital expenditure is done on purchasing property plant and equipment i.e
46,120 lakh as compared to 42,064 lakh in FY22. This is an increase of 9.6%
• In FY 23 there has been significant inflow of cash by proceeds from sale of investment
i.e 13501 lakh which will 0 in FY22.

3. Cash flow from Financing Activity:

• Cash flow is (32,962 lakh) in FY23 and 30,432 lakh in FY22. Cash flow turning to
negative in FY23 indicates that the company has paid a lot of its loan back.
• Dixon paid 19,591 lakh as repayment towards non-current loans, which was only 802
lakh in FY 22.
• This huge repayment of loan was only possible by its massive increase in cash from
ops activity. As the non current liabilities are reduced the debt has reduced significantly
which will help to future expansion.
ORIENT ELECTRIC
Cash flow activities of Orient electric:

1. Cash Flow from operating activities:

• Cash flows from operating activities in year FY22 was (1.25)cr then it turned positive
to 189.73cr.
• This turn around can be attributed to decrease in inventories. In FY22 they had huge
inventory increase of 76cr and then a good dip of 41cr in FY23 and the other attribute
is (69.48)cr decrease in trade payables in FY22 to increase in trade payables by 13.37cr
in FY23.
• Almost 190cr in positive cash flow indicates sound financial health of company.

2. Cash Flow from investing activities:

• In FY22 company had positive cash flow from investing. Further breakdown indicates
that nearly 43cr was spent to buys assets and there was a huge inflow of cash from
proceeds from term deposits. Whereas in FY 23 the cash flow is negative which
indicates that company spent on purchasing assets and paying back its long-term debts,
which is good for financial health of the company in long run.

3. Cash flow from financing activities:

• Cash flow is negative for both the years in FY22 and FY23. This does not necessarily
means bad for the company as it may imply repayment of interest and loans along with
dividends also.
• There is no cash in flow in this year as no new cash was raised through loans .
BAJAJ ELECTRICALS
Cash Flow from Operating Activities:

Bajaj Electricals' cash flow from operating activities increased from ₹6,596 crore in 2021 to ₹9,358
crore in 2022, an increase. This was driven by an increase in revenue and a decrease in operating
expenses.

Cash Flow from Investing Activities:

Bajaj Electricals' cash flow from investing activities decreased from ₹-1,105 crore in 2021 to ₹-3,307
crore in 2022, a decrease. This was primarily due to a decrease in investments in property, plant, and
equipment.

Cash Flow from Financing Activities:

Bajaj Electricals' cash flow from financing activities decreased from ₹-5,601 crore in 2021 to ₹-7,218
crore in 2022, a decrease. This was primarily due to an increase in repayments of debt.

Analysis:

Bajaj Electricals' cash flow statement shows that the company is generating healthy cash flows from
its operating activities. This is important for the company to be able to meet its financial obligations
and invest in growth. The decrease in cash flow from financing activities in 2022 was also positive, as
it indicates that the company is reducing its debt burden.

Overall, Bajaj Electricals' cash flow statement is positive and shows that the company is in a strong
financial position.
WHIRLPOOL OF INDIA
Cash Flow from Operating Activities:

Whirlpool's cash flow from operating activities decreased from $2.1 billion in 2021 to $1.3 billion in
2022, a decrease. This was primarily due to an increase in costs associated with raw materials,
transportation, and labour.

Cash Flow from Investing Activities:

Whirlpool's cash flow from investing activities decreased from $0.6 billion in 2021 to $3.5 billion in
2022, a decrease. This was primarily due to a decrease in investments in property, plant, and
equipment.

Cash Flow from Financing Activities:

Whirlpool's cash flow from financing activities increased from $ 3.0 billion in 2021 to $1.9 billion in
2022, an decrease. This was primarily due to an increase in net debt proceeds.

Analysis:

Whirlpool's cash flow statement shows that the company is facing some headwinds in terms of rising
costs and supply chain disruptions. This has led to a decrease in cash flow from operating activities.

Overall, Whirlpool's cash flow statement is mixed. The company is facing some challenges, but it is
still generating positive cash flow and has a strong credit profile.