Trade receivables for BSE-SME listed Tiger Logistics India Ltd rises sharply, while its “cash and cash equivalents” falls, as seen in its recent periodic financial statements. Tiger Logistics provides logistics solutions to DRDO, Indian Air Force, United Nation and various other auto-mobile manufacturers amongst others.
For the quarter ending September 30th of financial year 2014-15, Tiger Logistics reported an increase of 37 per cent in its trade receivables at Rs 4,910.45 lakhs, compared to Rs 3,575.77 lakhs for the September quarter of FY14.
For the FY14, Tiger Logistics reported trade receivables at Rs 30,62,72,731, that rose by about 85 per cent to Rs 56,83,17,030 for the year ending 31st March, 2015. The trade receivables for the FY13 was at Rs 21,48,77,725.
Trade receivables are current assets and to a large extent determine the company’s current cash in hand and cash equivalent position as on a particular date.
The rise in trade receivables has had an impact on Tiger Logistics’ “cash and cash equivalents” situation. Despite increase in its trade receivables, Tiger Logistics reported a slight increase in its cash and cash equivalents for the quarter ending September 30, 2015, compared to the corresponding quarter of the previous financial year.
Contrary to this increase, there was a fall in “cash and cash equivalents” as seen in its yearly financial reports of FY14 and FY15. Tiger Logistics reported a 37 per cent fall in its cash and cash equivalent at Rs 4,87,58,557 as on March 31, 2015, compared to the cash and equivalent of Rs 7,78,85,061 as on March 31, 2014.
The inverse relationship between “cash and cash equivalents” and “trade receivables” for Tiger Logistics were also seen during second quarters of FY13 and FY14. While the trade receivables fell during the quarter ending September 30, 2013 to Rs 2077.89 lakhs, compared with Rs 3,442.75 lakhs for the 2nd quarter of FY13, cash and cash equivalents increased by 225 per cent to Rs 1,482.88 lakhs as on September 30, 2013, compared to Rs 456.45 lakhs of cash and cash equivalents for the September quarter of FY13.
Links :
http://www.bseindia.com/bseplus/AnnualReport/536264/5362640315.pdf
http://www.bseindia.com/bseplus/AnnualReport/536264/5362640314.pdf
