Revenue and Operating Income Trends
Skyline Ventures' net sales have shown a marked decline over the past several years. The company reported its highest net sales in the fiscal year ending March 2017, with ₹7.27 crores. However, since then, sales have steadily diminished, reaching negligible levels from March 2023 through March 2025, where net sales were recorded at zero. This decline is mirrored in total operating income, which also peaked in 2017 and has since tapered off to nil in recent years.
Other operating income has consistently remained at zero throughout the period, indicating no supplementary revenue streams beyond core operations. The absence of raw material costs and power costs suggests a business model not reliant on manufacturing inputs or energy-intensive processes. However, the purchase of finished goods was significant in 2017, aligning with the peak sales figure, but has since dropped to zero.
Employee costs have remained minimal, with a slight increase in the latest fiscal years, while manufacturing expenses have been relatively low and stable. Other expenses have fluctuated, notably rising in the fiscal year ending March 2021, which may have impacted profitability.
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Profitability and Margins
The company’s operating profit (PBDIT) excluding other income has been volatile, with a negative margin in most years except for a positive margin in 2018 and a marginal profit in 2021. The operating profit margin peaked at 28.97% in 2018 but deteriorated sharply in subsequent years, turning negative with a margin of 0.0% in the latest fiscal years. Profit after tax (PAT) has followed a similar pattern, with losses recorded in most years except for a modest profit in 2018.
Earnings per share (EPS) have been negative in the majority of the years, reflecting the company’s struggles to generate consistent profits. The EPS was positive only in 2018, at 0.43, but has since declined to negative values, reaching -0.96 in the fiscal year ending March 2025.
Balance Sheet and Financial Position
Skyline Ventures’ shareholder funds have fluctuated, peaking at ₹5.03 crores in 2018 before declining to ₹3.61 crores in 2025. The company’s reserves have also decreased, turning negative in the most recent fiscal year. Long-term borrowings have increased steadily from zero in 2017 to ₹1.16 crores in 2025, indicating a growing reliance on debt financing.
Current liabilities have dramatically reduced from ₹49.41 crores in 2017 to ₹0.75 crores in 2025, suggesting a significant restructuring or reduction in short-term obligations. Total liabilities have similarly decreased from ₹52.97 crores in 2017 to ₹5.51 crores in 2025, reflecting a leaner balance sheet.
On the asset side, total assets have contracted substantially from ₹52.97 crores in 2017 to ₹5.51 crores in 2025. Non-current assets have remained relatively stable, while current assets have seen a sharp decline, particularly sundry debtors, which fell from ₹50.15 crores in 2017 to ₹2.58 crores in 2025. The book value per share has decreased from ₹11.48 in 2017 to ₹9.11 in 2025, indicating a reduction in net asset value per share over time.
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Cash Flow and Liquidity
Cash flow data for Skyline Ventures indicates no reported cash inflows or outflows from operating, investing, or financing activities in recent years. The company has maintained a zero cash and cash equivalents balance from 2019 onwards, which may raise concerns about liquidity and operational cash management. The absence of cash flow activity suggests limited business operations or a possible shift in business strategy.
Overall, Skyline Ventures has experienced a challenging financial trajectory characterised by declining revenues, inconsistent profitability, and a shrinking asset base. The company’s increasing debt levels and lack of cash flow activity highlight potential risks for investors and stakeholders. While the firm showed some positive signs in 2018, recent years have seen a downturn in financial performance, necessitating careful consideration for future investment decisions.
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