How has been the historical performance of Harish Textile?

Answer:The historical performance of Harish Textile shows significant challenges, particularly in the fiscal year ending March 2020, where the company reported a net sales figure of 153.56 crore. The total operating income matched this amount, but the total expenditure, excluding depreciation, was 143.13 crore, resulting in an operating profit of 10.43 crore. However, the company faced substantial interest expenses of 48.80 crore, leading to a gross profit before tax of -38.37 crore and a profit before tax of -87.14 crore. Consequently, the profit after tax was -92.14 crore, reflecting a negative earnings per share of -28.19. The operating profit margin stood at 6.79%, while the profit after tax margin was -60.0%.

In terms of balance sheet metrics, Harish Textile's total liabilities as of March 2024 were 77.61 crore, with total assets also at 77.61 crore, indicating a balanced position. The company's shareholder's funds decreased slightly to 9.25 crore from 9.54 crore in the previous year. Long-term borrowings decreased significantly from 11.66 crore in March 2023 to 5.86 crore in March 2024. The cash flow analysis reveals that the company had a cash flow from operating activities of 10.00 crore in March 2024, a notable improvement from previous years, while cash flow from financing activities was -9.00 crore. Overall, the financial data indicates a company that has faced significant losses and challenges but has shown some improvement in cash flow from operations in recent periods.

Breakdown:
Harish Textile's financial history reveals a company grappling with substantial losses, particularly in the fiscal year ending March 2020, where it reported a profit after tax of -92.14 crore against net sales of 153.56 crore. The operating profit margin was relatively low at 6.79%, while the profit after tax margin was starkly negative at -60.0%. The balance sheet for March 2024 shows total liabilities and assets both at 77.61 crore, with shareholder's funds slightly declining to 9.25 crore. Long-term borrowings have decreased significantly, indicating a reduction in debt. The cash flow from operating activities has improved to 10.00 crore in March 2024, contrasting with previous years' negative figures, while financing activities reflected a cash outflow of -9.00 crore. This performance suggests a company that is slowly stabilizing its cash flow while still dealing with the repercussions of past financial difficulties.