Cash taxes are being shown under CFI instead of CFO (Had not noticed this earlier)
However, the justification of tax losses in previous years still seems doubtful.
PBT was never a loss since FY 07.
| Mar 2004 | Mar 2005 | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit before tax | 0.04 | 0.04 | 0.09 | 0.08 | 0.21 | 0.26 | 0.76 | 0.58 | 0.8 | 0.88 | 2.93 | 4.73 |
Further Analysis on the Tax issue:
| 33% tax rate | 33% tax of (cPBT + pbt17) | Tax Rate | P&L Tax | Current tax | Deferred Tax | Cash Tax | |||
|---|---|---|---|---|---|---|---|---|---|
| Cumulative PBT till FY16 | cPBT | 3.74 | 1.23 | ||||||
| PBT in FY17 | pbt17 | 2.93 | 0.97 | 2.20 | 72.01% | 2.11 | 0.59 | 1.52 | 0.64 |
| PBT in FY18 | pbt18 | 4.73 | 1.56 | 25.16% | 1.19 | 1.27 | -0.08 | 1.28 |
FY17 Tax (@ 72 %) seems to have taken care of previous years profits (FY16 and before)
I think this resolves the tax conundrum for me. While the tax figures seem to have been reconciled it would still be good to know why there was no tax paid prior to FY17.
Analysis on Unsecured Loans and RPT
Figures highlighted in blue are derived by subtracting Row 170 from Row 173.
Figures highlighted in blue are derived by subtracting the current balance from previous year’s balance (Row 178)
