Balance Sheet

Birla Corporation
in crores

Notes

2015, March

EQUITY AND LIABILITIES

Shareholders Funds
Share Capital
Reserves and Surplus

3
4

7700.89
254710.48

Non-Current Liabilities
Long-Term Borrowings
Deferred Tax Liabilities (net)
Other Long-Term Liabilities
Long-Term Provisions

5
6
7
8

110178.17
24293.75
35317.3
3117.06

9
10
11
12

14082.74
18808.55
23547.43
7369.87

Fixed Assets
Tangible Assets
Capital Work-in-Progress
Intangible Assets held under Deve

13
13
13

Non-Current Investments
Long-Term Loans and Advances
Other Non-Current Assets

14
15
16

192067.03
12269.87
189.73
204526.63
36253.96
22423.75
2907.78

Current Assets
Current Investments
Inventories
Trade Receivables
Cash and Bank Balance
Short-Term Loans and Advances

17
18
19
20
21

95535.95
55211.02
8812.5
46677.06
10368.32

Current Liabilities
Short-Term Borrowings
Trade Payables
Other Current Liabilities
Short-Term Provisions
TOTAL
ASSETS
Non-Current Assets

Other Current Assets

TOTAL

22

16409.27

Standalone report
in crores

in crores

2014, March

262411.37

7700.89
244906.76
252607.65

172906.28

91630.9
23421.38
28862.26
2714.46
146629

63808.59
499126.24

16310.49
15474.23
49968.27
6865.97
88618.96
487855.61

266112.12

186121.62
14166.77
363.34
200651.73
35202.55
20335.36
3006.5
259196.14
98197.36
51510.71
7471.14
50108.27
8055.39

233014.12
499126.24

13316.6
228659.47
487855.61

Income Statement
REVENUE
Revenue from Operations (Gross)
Less: Excise Duty
Net Revenue from Operations
Other Income
Total Revenue
EXPENSES
Cost of Materials Consumed
Purchases of Stock-in-Trade
Changes in Inventories of Work-inProgress, Finished Goods and Stock-inTrade
Employee Benefits Expense
Finance Costs (net)
Depreciation and Amortisation Expense
Other Expenses
Total Expenses
Profit Before Exceptional Items and
Tax
Exceptional Items
Impairment of Assets
Exchange Loss (net) on Foreign Currency
Long-Term Borrowings including
Revaluation thereof
Profit Before Tax
Tax Expense
Current Tax expense for current year
Less: Current Tax expense relating to
prior years
Net Current Tax expense
Deferred Tax
Profit For the Year
EARNINGS PER SHARE
(Face value per share - Rs10)
Basic
Diluted

in crores

in crores

2015, March 2014, March

369,216.83
48227.59
320,989.24
15593.94
336,583.18

347,792.22
46157.01
301,635.21
12490.85
314,126.06

51,131.22
124.42

49,327.27
140.08

-3998.88
22547.51
7837.26

3915.75
22157.56
8559.44

15345.97
221,023.29
314010.8

13258.27
200,446.34
297804.7

22572.39
1284.47
0

16321.35
1093.19
0

0
21287.92

0
0
15228.16

2933.14

0
-505.53
1316.3

0
0
2252.14

17544.01

12976.02

22.78
22.78

16.85
16.85

298664.8 284546.4
314010.8 297804.7

Balance Sheet
2015
EQUITY AND LIABILITIES
Shareholders Funds
Share Capital
Reserves and Surplus
Non-Current Liabilities
Long-Term Borrowings
Deferred Tax Liabilities (net)
Other Long-Term Liabilities
Long-Term Provisions
Current Liabilities
Short-Term Borrowings
Trade Payables
Other Current Liabilities
Short-Term Provisions
TOTAL

Horizontal Analysis
2014 Change

7700.89
254710.48
262411.37

7700.89
244906.76
252607.65

0
9803.72
9803.72

110178.17
24293.75
35317.3
3117.06
172906.28

91630.9
23421.38
28862.26
2714.46
146629

18547.27
872.37
6455.04
402.6
26277.28

14082.74
18808.55
23547.43
7369.87
63808.59
499126.24

16310.49
15474.23
49968.27
6865.97
88618.96
487855.61

-2227.75
3334.32
-26420.84
503.9
-24810.37
11270.63

192067.03
12269.87
189.73

186121.62
14166.77
363.34

5945.41
-1896.9
-173.61

36253.96
22423.75
2907.78
266112.12

35202.55
20335.36
3006.5
259196.14

1051.41
2088.39
-98.72
6915.98

95535.95
55211.02
8812.5
46677.06
10368.32
16409.27
233014.12

98197.36
51510.71
7471.14
50108.27
8055.39
13316.6
228659.47

-2661.41
3700.31
1341.36
-3431.21
2312.93
3092.67
4354.65

ASSETS
Non-Current Assets
Fixed Assets
Tangible Assets
Capital Work-in-Progress
Intangible Assets held under De
Non-Current Investments
Long-Term Loans and Advances
Other Non-Current Assets
Current Assets
Current Investments
Inventories
Trade Receivables
Cash and Bank Balance
Short-Term Loans and Advances
Other Current Assets

TOTAL

499126.24

487855.61

11270.63

Income Statement
Horizontal Analysis
2015, Marc2014, Marc Change
REVENUE
Revenue from Operations (Gross) 369,216.83
Less: Excise Duty
48227.59
Net Revenue from Operations
320,989.24
Other Income
Total Revenue

347,792.22
46157.01
301,635.21

21424.61
2070.58
19354.03

12490.85

3103.09

### 314,126.06

22457.12

15593.94

EXPENSES
Cost of Materials Consumed
51,131.22
Purchases of Stock-in-Trade
124.42
Changes in Inventories of Work-i
-3998.88
Employee Benefits Expense
22547.51
Finance Costs (net)
7837.26
Depreciation and Amortisation E
15345.97
Other Expenses
221,023.29
Total Expenses
Profit Before Exceptional Ite
Exceptional Items
Impairment of Assets
Exchange Loss (net) on Foreign C

Profit Before Tax

Tax Expense
Current Tax expense for current
Less: Current Tax expense relatin
Net Current Tax expense
Deferred Tax
Profit For the Year
EARNINGS PER SHARE
(Face value per share - Rs10)

49,327.27
140.08
3915.75
22157.56
8559.44
13258.27
200,446.34

1803.95
-15.66
-7914.63
389.95
-722.18
2087.7
20576.95

314010.8

297804.7

16206.1

22572.39

16321.35

6251.04

1284.47
0
0

1093.19
0
0

191.28
0
0

21287.92

0
15228.16

0
6059.76

2933.14
0
-505.53
1316.3

0
0
0
2252.14

2933.14
0
-505.53
-935.84

17544.01

12976.02

4567.99

10

10

Basic
Diluted

22.78
22.78

16.85
16.85

5.93
5.93

tal Analysis
Vertical Analysis
Change%
2015
2014

0.00%
4.00%
3.88%

1.54%
51.03%
52.57%

1.58%
50.20%
51.78%

20.24%
3.72%
22.36%
14.83%
17.92%

22.07%
4.87%
7.08%
0.62%
34.64%

18.78%
4.80%
5.92%
0.56%
30.06%

-13.66%
21.55%
-52.88%
7.34%
-28.00%
2.31%

2.82%
3.77%
4.72%
1.48%
12.78%
100.00%

3.34%
3.17%
10.24%
1.41%
18.16%
100.00%

3.19%
-13.39%

38.48%
2.46%
0.04%

38.15%
2.90%
0.07%

2.99%
10.27%
-3.28%
2.67%

7.26%
4.49%
0.58%
53.32%

7.22%
4.17%
0.62%
53.13%

-2.71%
7.18%
17.95%
-6.85%
28.71%
23.22%
1.90%

19.14%
11.06%
1.77%
9.35%
2.08%
3.29%
46.68%

20.13%
10.56%
1.53%
10.27%
1.65%
2.73%
46.87%

2.31%

100.00%

100.00%

tal Analysis
Vertical Analysis
Change%
2015
2014
6.16%
4.49%
6.42%
24.84%
7.15%

3.66%
-11.18%
-202.12%
1.76%
-8.44%
15.75%
10.27%
5.44%
38.30%
17.50%

39.79%

-41.55%
35.20%

0.00%

35.19%
35.19%

MARKS

4.00

Balance Sheet

EQUITY AND LIABILITIES

Shareholders Funds
Share Capital
Reserves and Surplus
Non-Current Liabilities
Long-Term Borrowings
Deferred Tax Liabilities (net)
Other Long-Term Liabilities
Long-Term Provisions

Current Liabilities
Short-Term Borrowings
Trade Payables
Other Current Liabilities
Short-Term Provisions
TOTAL

2015

2014

7700.89
254710.48
262411.37

7700.89
244906.76
252607.65

110178.17
24293.75
35317.3
3117.06
172906.28

91630.9
23421.38
28862.26
2714.46
146629

14082.74
18808.55
23547.43
7369.87
63808.59
499126.24

16310.49
15474.23
49968.27
6865.97
88618.96
487855.61

192067.03
12269.87
189.73

186121.62
14166.77
363.34

36253.96
22423.75
2907.78
266112.12

35202.55
20335.36
3006.5
259196.14

95535.95
55211.02

98197.36
51510.71

ASSETS
Non-Current Assets
Fixed Assets
Tangible Assets
Capital Work-in-Progress
Intangible Assets held under Deve

Non-Current Investments
Long-Term Loans and Advances
Other Non-Current Assets
Current Assets
Current Investments
Inventories

Trade Receivables
Cash and Bank Balance
Short-Term Loans and Advances
Other Current Assets
TOTAL

8812.5
46677.06

7471.14
50108.27

10368.32
16409.27
233014.12
499126.24

8055.39
13316.6
228659.47
487855.61

Income Statement
in crores

in crores

2015, Mar 2014, March

REVENUE
Revenue from Operations (Gross)
Less: Excise Duty
Net Revenue from Operations
Other Income
Total Revenue

369,216.83
48227.59
320,989.24

347,792.22
46157.01
301,635.21

15593.94

12490.85

### 314,126.06

EXPENSES
Cost of Materials Consumed
51,131.22
Purchases of Stock-in-Trade
124.42
Changes in Inventories of Work-in-3998.88
Employee Benefits Expense
22547.51
Finance Costs (net)
7837.26
Depreciation and Amortisation Exp 15345.97
Other Expenses
221,023.29
Total Expenses

49,327.27
140.08
3915.75
22157.56
8559.44
13258.27
200,446.34

314010.8

297804.7

Profit Before Exceptional Items 22572.39

16321.35

Exceptional Items
Impairment of Assets
Exchange Loss (net) on Foreign Cur

Profit Before Tax

Tax Expense
Current Tax expense for current ye
Less: Current Tax expense relating
Net Current Tax expense

1284.47
0
0

1093.19
0
0

21287.92

0
15228.16

2933.14
0
-505.53

0
0
0

Deferred Tax

1316.3

2252.14

17544.01

12976.02

10
22.78
22.78

10
16.85
16.85

COGS = Raw Materials consumed + 168917.74

164544.97

Number of Shares held in the Com 25.4756278

25.4756278

Profit For the Year

EARNINGS PER SHARE
(Face value per share - Rs10)
Basic
Diluted
Tax rate

Dividend per share

Equity Dividend

6.21
6
158.203649 152.8537668

RATIO ANALYSIS
I. Liquidity Ratios
1. Current Ratio =CA/CL
2. Quick Ratio = (CA-Inventories)/CL
3. Cash Ratio =(Cash & BB + Current investments0/CL
Summary:

Summary: All the liquidity ratios have increased in the past year, it is mainly because company has reduce
1. Debt-Equity Ratio =Non-current liab/Shareholders' funds
2. Debt-Total assets ratio = Non-current liab/Total assets
3.Assets-Equity Ratio =Total Assets/Shareholders' funds
4.Interest Coverage Ratio = PBIT/Finance cost

Summary: All the leverage ratios have remained fairly similar over the past one year. Debt to Equity ratio
term growth. Also a decrease in asset to equiy ratio is not a g
III. Turnover Ratios
1. Inventory Turnover Ratio = Net Revenue from operations/Inventory
2.Debtors' Turnover Ratio = Net Revenue from operations/Debtors
3. Average Collection Period =365/DTR
4. Fixed Assets Turnover Ratio =Ne Revenue from operations/Non-current as
5. Total Assets Turnover Ratio=Net Revenue from operations/Total Assets

Summary: ITR has slightly decreased, it is not a good sign because it means the company is now taking
pay, probably because he company
IV. Profitability Ratios
1. Gross Profit Margin = Gross profit/Net revenue from operations
2.Operating Profit Margin =PBIT/Net revenue from operations
3. Net Profit Margin =Net Profit available for shareholders/Net rev from opera
4. Earning Power = PBIT/Total Assets =(PBT+Finance cost)/TA
5. Retrun on Capital Employed =PBIT(1-T)/Total Assets
6. Return on Equity = Net profit available to shareholers/Shareholders' funds

Summary: GPM and OPM has slightly increased, meaning better process
ROE Analysis
1.PBIT/Net Rev from Ope (impact of profitable operations)
2.PBT/PBIT (Impact of finance cost)
3. Net profit available to shareholders/PBT (Impact of tax)
4.TATR (Impact of efficiency in using assets)

5.TA/SF (Impact of borrowing)

ROE

Summary: The Return of the equity ratios have fairly increased but the TATR ratio is decreased which sho
V. Valuation Ratios
1. Total Return = Capital gain + Dividend Yield
Price at the beginning of Financial Year
Price at the end of Financial year
Capital gain =(Price at the end of FY-Price at the beginning of FY)/Price at th
Dividend per share
Dividend yield =Dividend per share during FY/Price at the beginning of FY
Total return
2. Price-Earnings Ratio = Market price per share (end) /Diluted Earnings per
3. Price-Book Value Ratio = Market price per share (end)/Book value per sha
Book value per share

VI. Aaltman's Z-Score = 1.2(NWC/TA)+1.4 (RE/TA)+3.3 (EBIT/TA)+0.6(MVE/BVD)+1.0(NS/T

Z> 2.675 Healthy ; Z= 1.81 to 2.675 Grey Area (under scan); Z<2.675 On the way to bank
NWC/TA = (Current Assets-Current Liab)/TA
Retained Earnings /TA =(Net profit available to shareholders-equity
PBIT/TA
MVE/BVD =Market value of equity/Book value of total debt
NS/TA =Net revenue from operations/TA
Z Score
Market Value of Equity
Book Value of Total Debt

2015

2014

3.65
2.79
2.23

2.58
2.00
1.67

ear, it is mainly because company has reduced the short term debt and trade payables,which means the company has increased i

0.66
0.47
1.90
1.72

0.58
0.48
1.93
0.78

ar over the past one year. Debt to Equity ratio has increased slightly, meaning the company is now financing more of its asset with
so a decrease in asset to equiy ratio is not a good sign as the company has leveraged its equity well
5.81
36.42
10.02
1.21
0.64

5.86
40.37
9.04
1.16
0.62

because it means the company is now taking more time to sell its inventory. A decrease in DTR means that debtors are now taking
pay, probably because he company has loosened its credit terms

0.09
0.05
0.05
0.06
0.06
0.07

0.08
0.04
0.04
0.05
0.05
0.05

s slightly increased, meaning better process efficiency. And most of the profilability ratios fairly remain constant

0.05

0.04

2.72
0.82
1.55

1.78
0.85
1.62

1.90

1.93

ed but the TATR ratio is decreased which shows that the assets are not managed efficiently and financial costs has decreased wh

84.62%
242.9

-1.21%
263.2

435.95

242.9

79.48%

-7.71%

12.504

17.12

5.15%

6.50%

19.14

14.42

43.595
10

24.29
10

3.3 (EBIT/TA)+0.6(MVE/BVD)+1.0(NS/TA)
der scan); Z<2.675 On the way to bankruptcy
0.18
0.03
0.06
0.16
0.64

0.12
0.03
0.05
0.10
0.62

1.19

11106.09993941
68208.59
marks

1.02

6188.02999262
60646.98
11.5

ich means the company has increased its liquidity

y is now financing more of its asset with debt for long

equity well

DTR means that debtors are now taking more time to

fairly remain constant

ly and financial costs has decreased when compared to the previous year

Standard

1.33

EQUITY AND LIABILITIES

Shareholders Funds
Share Capital
Reserves and Surplus
Non-Current Liabilities
Long-Term Borrowings
Deferred Tax Liabilities (net)
Other Long-Term Liabilities
Long-Term Provisions
Current Liabilities
Short-Term Borrowings
Trade Payables
Other Current Liabilities
Short-Term Provisions
TOTAL
ASSETS
Non-Current Assets
Fixed Assets
Tangible Assets
Capital Work-in-Progress
Intangible Assets held under Development
Non-Current Investments
Long-Term Loans and Advances
Other Non-Current Assets
Current Assets
Current Investments
Inventories
Trade Receivables
Cash and Bank Balance
Short-Term Loans and Advances
Other Current Assets
TOTAL

Income Statement
REVENUE
Revenue from Operations (Gross)
Less: Excise Duty
Net Revenue from Operations
Other Income
Total Revenue
EXPENSES
Cost of Materials Consumed
Purchases of Stock-in-Trade
Changes in Inventories of Work-in-Progress, Finished Goods and Stock-in-Trade
Employee Benefits Expense
Finance Costs (net)
Depreciation and Amortisation Expense
Other Expenses
Total Expenses
Profit Before Exceptional Items and Tax

Exceptional Items
Impairment of Assets
Exchange Loss (net) on Foreign Currency Long-Term Borrowings including Revaluation there

Profit Before Tax

Tax Expense
Current Tax expense for current year
Less: Current Tax expense relating to prior years
Net Current Tax expense
Deferred Tax
Profit For the Year
EARNINGS PER SHARE
(Face value per share - Rs10)
Basic
Diluted

Funds Flow Statement: Total Funds Basis

Sources
Inc in Reserves & Surplus
Inc in L T Provisions
Inc in Trade payables
Inc in LT borrwoings
Inc in ST Provisions
Dec in CWIP
Dec in other Non-CA
Dec in current investments
Dec in deff tax liab (net)
Dec in cash & BB
Inc in Intangible assets
Dec in other LT liabilities
Total Sources
Funds Flow Statement: Working Capital Basis
Sources
Inc in Reserves & Surplus
Inc in L T Provisions
Inc in LT borrwoings
Dec in CWIP
Dec in other Non-CA
Dec in current investments
Inc in Intangible assets
Dec in other LT liabilities
inc in deff tax liab
Total Sources of WC
Change in NWC
Changes in WC components
Currest Assets
Change in Inventories
Change in Trade Receivables
Cash and Bank Balance
Short-Term Loans and Advances
Other Current Assets
Total Change in Current Assets
Change in WC
Funds Flow Statement: Cash Basis
Sources
Inc in Reserves & Surplus

9803.72
402.6
3334.32
18547.27
503.9
1896.9
98.72
2661.41
872.37
3431.21
173.61
6455.04
48181.07

9803.72
402.6
18547.27
1896.9
98.72
2661.41
173.61
6455.04
872.37
40911.64
29598.68

3700.31
1341.36
-3431.21
2312.93
3092.67
7016.06
29598.68

9803.72

Inc in L T Provisions
Inc in Trade payables
Inc in LT borrwoings
Inc in ST Provisions
Dec in CWIP
Dec in other Non-CA
Dec in current investments
Dec in other current assets
Inc in Intangible assets

Total Sources
Change in Cash & BB
Classified Cashflow Statements
A. Cash Flows from Operatons
RNP - other income
Add: Interest
Add: Dep(Non Cash Expense)
OCFs before changes in WC components
Less: dec in inventory
Add: Dec in debtors
Add:Dec in Loans& Adv
Add: dec in other CA
Add: Dec in other CL
Add: Inc in trade payables
Add: Inc in ST provisions
OCF
C. Cash Flows from Financing
Inc in LT Borrowings
Dec in ST borrowings
Dec in def tax liab
Dividends
Interest
Dec in other LT liab
Inc in LT provisions
Total
D. Other income
(A+B+C+D)
Change in C&BB
Reason for mis-match
Reported net profit -Dividend
Dec in Reserves & Surplus
Overstatement of OCFs
Adj change in Cash & BB

402.6
3334.32
18547.27
503.9
1896.9
98.72
2661.41
3092.67
173.61

40515.12
11900.69

1950.07
7837.26
15345.97
25133.3
-3700.31
-1341.36
-2312.93
-3092.67
-26420.84
3334.32
503.9
-7896.59
18547.27
-2227.75
872.37
-158.203648638
-7837.26
6455.04
402.6
16054.066351362
15593.94
4150.876351362
-3431.21
17385.806351362
7582.086351362
4150.876351362

2015

2014

7700.89
254710.48
262411.37

7700.89
244906.76
252607.65

110178.17
24293.75
35317.3
3117.06
172906.28

91630.9
23421.38
28862.26
2714.46
146629

14082.74
18808.55
23547.43
7369.87
63808.59
499126.24

16310.49
15474.23
49968.27
6865.97
88618.96
487855.61

192067.03
12269.87
189.73

186121.62
14166.77
363.34

36253.96
22423.75
2907.78
266112.12

35202.55
20335.36
3006.5
259196.14

95535.95
55211.02
8812.5
46677.06
10368.32
16409.27
233014.12
499126.24

98197.36
51510.71
7471.14
50108.27
8055.39
13316.6
228659.47
487855.61

ck-in-Trade

uding Revaluation thereof

in crores

in crores

2015, March

2014, March
369,216.83
48227.59
320,989.24

347,792.22
46157.01
301,635.21

15593.94

12490.85

336,583.18

314,126.06

51,131.22
124.42
-3998.88
22547.51
7837.26
15345.97
221,023.29

49,327.27
140.08
3915.75
22157.56
8559.44
13258.27
200,446.34

314010.8

297804.7

22572.39

16321.35

1284.47
0
0

1093.19
0
0

21287.92

0
15228.16

2933.14
0
-505.53
1316.3

0
0
0
2252.14

17544.01

12976.02

10
22.78
22.78

10
16.85
16.85

Uses
Dec in other current liabilities

26420.84

Dec in ST borowings
Inc in tangible assets
Dec in other current assets
Inc in non-current investments
Inc in inventories
Inc in ST loans & adv
Inc in LT loans & advances
Inc in trade receivables

2227.75
5945.41
3092.67
1051.41
3700.31
2312.93
2088.39
1341.36

Total Uses

48181.07
marks

Uses
Inc in LT loans & advances

2088.39

Dec in ST borowings
Inc in tangible assets
Inc in non-current investments

2227.75
5945.41
1051.41

Total uses of WC

11312.96

Current Liabilities
Change in Trade payables
Change in other CLs
Change in ST Provisions

3334.32
-26420.84
503.9

Total change in CL & provisions

-22582.62
marks

Uses
Dec in other current liabilities

26420.84

Dec in deff tax liab (net)

Dec in other LT liabilities
Dec in ST borowings
Inc in tangible assets

872.37
6455.04
2227.75
5945.41

Inc
Inc
Inc
Inc
Inc

1051.41
3700.31
2312.93
2088.39
1341.36

in
in
in
in
in

non-current investments
inventories
ST loans & adv
LT loans & advances
trade receivables

Total Uses

52415.81
marks

B. Cash Flows from Investing

Dec in GB(Gross Block)
Inc in CWIP
Inc in investments
Inc in other non-CA
Dec LT loans and advances
Total

-21117.77
1896.9
1610
98.72
-2088.39
-19600.54

marks
Total=

Gross Bloc

5
16

Change

0
9803.72
9803.72

U/S

Type

O+ and F+

18547.27
872.37
6455.04
402.6
26277.28

S
S
S
S

F+
FFF+

-2227.75
3334.32
-26420.84
503.9
-24810.37
11270.63

U
S
U
S

FO+
OO+

5945.41
-1896.9
-173.61

U
S
S

II+
I-

1051.41
2088.39
-98.72
6915.98

U
U
S

III+

-2661.41
3700.31
1341.36
-3431.21
2312.93
3092.67
4354.65
11270.63

S
U
U
S
U
U

I+
OOO+
OO+

marks

11

Absolute Value of Change

9803.72
9803.72
0
18547.27
872.37
6455.04
402.6
26277.28
0
2227.75
3334.32
26420.84
503.9
24810.37
11270.63
0
0
0
0
0
0
5945.41
1896.9
173.61
0
1051.41
2088.39
98.72
6915.98
0
2661.41
3700.31
1341.36
3431.21
2312.93
3092.67
4354.65
11270.63

Follow the following code f

O + : +ve Operating flow
O - : -ve Operating flow
I + : +ve Investing flow
I -: -ve investing flow
F +: +ve Financing flow
F -: -ve Financing flow

2015
2014
Number of Shares held in the Company 25.47563 25.47563
Dividend per share
Equity Dividend

6.21
6
158.2036 152.8538

0
-15002.04

Working Capital Management is done well

Working Capital is used in Financing Long Term Investments

18282.25

Net Block + Depreciation

Gross Block=
RNP(Reported Net Profit) = PAT

ollow the following code for Type of flow:

O + : +ve Operating flow
O - : -ve Operating flow
+ : +ve Investing flow
-: -ve investing flow
+: +ve Financing flow
-: -ve Financing flow

Balance Sheet

EQUITY AND LIABILITIES

Shareholders Funds
Share Capital
Reserves and Surplus
Non-Current Liabilities
Long-Term Borrowings
Deferred Tax Liabilities (net)
Other Long-Term Liabilities
Long-Term Provisions
Current Liabilities
Short-Term Borrowings
Trade Payables
Other Current Liabilities
Short-Term Provisions
TOTAL

2015

2014

7700.89
254710.48
262411.37

7700.89
244906.76
252607.65

110178.17
24293.75
35317.3
3117.06
172906.28

91630.9
23421.38
28862.26
2714.46
146629

14082.74
18808.55
23547.43
7369.87
63808.59
499126.24

16310.49
15474.23
49968.27
6865.97
88618.96
487855.61

192067.03
12269.87
189.73
204526.63
36253.96
22423.75
2907.78
266112.12

186121.62
14166.77
363.34
200651.73
35202.55
20335.36
3006.5
259196.14

95535.95
55211.02
8812.5
46677.06
10368.32
16409.27

98197.36
51510.71
7471.14
50108.27
8055.39
13316.6

ASSETS
Non-Current Assets
Fixed Assets
Tangible Assets
Capital Work-in-Progress
Intangible Assets held under Deve
Non-Current Investments
Long-Term Loans and Advances
Other Non-Current Assets
Current Assets
Current Investments
Inventories
Trade Receivables
Cash and Bank Balance
Short-Term Loans and Advances
Other Current Assets

233014.12
499126.24

TOTAL

228659.47
487855.61

Income Sheet
2015, March
REVENUE
Revenue from Operations (Gross)
Less: Excise Duty
Net Revenue from Operations
Other Income
Total Revenue
EXPENSES
Cost of Materials Consumed
Purchases of Stock-in-Trade
Changes in Inventories of Work-inEmployee Benefits Expense
Finance Costs (net)
Depreciation and Amortisation Exp
Other Expenses
Total Expenses
Profit Before Exceptional Items
Exceptional Items
Impairment of Assets
Exchange Loss (net) on Foreign Cur

2014, March

369,216.83
48227.59
320,989.24
15593.94
336,583.18

347,792.22
46157.01
301,635.21
12490.85
314,126.06

51,131.22
124.42
-3998.88
22547.51
7837.26
15345.97
221,023.29
314,010.80
22572.39
1284.47
0
0

Profit Before Tax

Tax Expense
Current Tax expense for current ye
Less: Current Tax expense relating
Net Current Tax expense
Deferred Tax

21287.92

49,327.27
140.08
3915.75
22157.56
8559.44
13258.27
200,446.34
297,804.70
16321.35
1093.19
0
0
0
15228.16

2933.14
0
-505.53
1316.3

0
0
0
2252.14

Profit For the Year

EARNINGS PER SHARE
(Face value per share - Rs10)
Basic
Diluted

17544.01

12976.02

22.78
22.78

16.85
16.85

Growth
Proforma balance
sheet of 2016
assuming revenues
Average percent of
from operation of
2013
sales
Assumptions/Reasons 9.70% growth

7700.89
237305.08
245005.97

2.64% No change
83.90% Proforma Statemen
86.54%

7700.89
266693.49
274394.38

89738.46
21169.24
25048.41
362236
139578.47

33.06% NO Change
7.82%
10.06%
47.01%
52.03%

110178.17
27543.19
35440.57
165538.91
183223.71

27788.96
12670.58
21623.05
5882.16
67964.75
452549.19

6.82%
5.29%
10.74%
2.28%
25.12%
163.70%

24027.33
18612.67
37805.09
8019.10
88464.20
576420.38

172823.31
22857.31
459.33
196139.95
89793.14
13503.93
2.78
302379.02

62.65%
5.77%
0.12%

220588.96
20306.42
417.89

19.15% No change
6.31%
0.63%
95.00%

36253.96
22202.02
2234.45
334520.68

37279.98
57014.06
7496.29
27863.02
9695.44
10821.38

25.55%
18.73%
2.70%
13.95% too much increase
3.21%
4.56%

89956.41
65942.46
9509.97
51344.77
11297.89
16061.88

150170.17
452549.19

68.70%
163.70%

241899.70
576420.38

2013, March
299,434.35
39138.42
260,295.93
12711.64
273,007.57
52,634.21
487.08
-13190.64
19307.47
6485.74
10439.17
161,773.98
7,753.23
35070.56
0
0
0
0
35070.56
2244.6
0
2244.6
5844.37
26981.59
10
35.04
35.04

115.12%
15.12%
100.00%
4.63% No Change
104.63%

405370.12
53244.92
352125.19628
15593.94
367719.14

17.50%
0.09%
-1.67% Assuming there wil
7.26%
2.59% No Change
4.40%
65.82%
66.51%
8.64%

61625.97
319.64
-1999.44
25573.33
7837.26
15478.02
231769.00
340603.79
27115.35

0.00% NO Change
0.00% NO Change
0.00%
8.38%

0.00
0.00
27115.35

0.59%
0.00%
0.23%
1.13%
0.00% No Change
6.71%

2084.71
0.00
827.30
-827.30
0
23631.40

marks

9.70%

Change (%)

0
0.0470456104
0.0456649801
0
0.1337561366
0.003490347
52.1073870679
0.059670656
0.7061547029
-0.0104143937
0.6054868779
0.0880929422
0.3863994933
0.1548589067

0.1484998907
0.6549822747
1.2025483552
0
-0.0098882649
-0.2315619758
0.2570666856
-0.0584025433
0.1943713703
0.0791458818
0.1
0.0896552701
-0.0211704526

PAT
17544.01
Divident pe
5561

0.0381332391
0.1548589067

0.0979188551
0.1040344954
0.097
0
0.0925059781
0.2052513463
1.5690734175
-0.5
0.1341975436
0
0.0086046931
0.0486180074
0.0846881242
0.201261836
-1

0.2737435435
-0.2892574281
-2.6365012375
-1.6285044979
0.3469781269

Balance Sheet

EQUITY AND LIABILITIES

Shareholders Funds
Share Capital
Reserves and Surplus
Non-Current Liabilities
Long-Term Borrowings
Deferred Tax Liabilities (net)
Other Long-Term Liabilities
Long-Term Provisions
Current Liabilities
Short-Term Borrowings
Trade Payables
Other Current Liabilities
Short-Term Provisions
TOTAL
ASSETS
Non-Current Assets
Fixed Assets
Tangible Assets
Capital Work-in-Progress
Intangible Assets held under Development
Non-Current Investments
Long-Term Loans and Advances
Other Non-Current Assets
Current Assets
Current Investments
Inventories
Trade Receivables
Cash and Bank Balance
Short-Term Loans and Advances
Other Current Assets

TOTAL

Income Statement

REVENUE
Revenue from Operations (Gross)
Less: Excise Duty
Net Revenue from Operations
Other Income
Total Revenue
EXPENSES
Cost of Materials Consumed
Purchases of Stock-in-Trade

Changes in Inventories of Work-in-Progress, Finished

Goods and Stock-in-Trade
Employee Benefits Expense
Finance Costs (net)
Depreciation and Amortisation Expense
Other Expenses
Total Expenses
Profit Before Exceptional Items and Tax
Exceptional Items
Impairment of Assets

Exchange Loss (net) on Foreign Currency Long-Term

Borrowings including Revaluation thereof
Profit Before Tax
Tax Expense
Current Tax expense for current year

Less: Current Tax expense relating to prior years

Net Current Tax expense
Deferred Tax
Profit For the Year
EARNINGS PER SHARE
(Face value per share - Rs10)
Basic
Diluted
Number of Shares held in the Company
Dividend per share
Equity Dividend
Working Capital Policy
a) Level of Current Assets
TCA/NS
NCA/NS
TCA/TA
NCA/TA
b) Current Asset Financing
STB/TCA
STB/NCA
Cash Conversion Cycle (CCC)
Inventory Turnover Ratio(ITR) =COGS/Inventory
Days Inventory Outstanding (DIO)=365/ITR
Debtors' Turnover Ratio(DTR) =NS/Debtors
Days Sales Outstanding (DSO) = Debtors/NS per day = 3
Payables'' turnover ratio (PTR) =COGS/Payables
Days Payable Outstanding (DPO) =365/PTR
CCC=DIO+DSO-DPO
Current assets
Inventories
Trade Receivables
Cash and Bank Balance
Short-Term Loans and Advances
Other Current Assets
TCA
TCL

2015
0.73
0.53
0.47
0.34
0.06
0.08
3.13
116.46
36.42
10.02
9.20
39.67
86.81
2015
55211.02
8812.5
46677.06
10368.32
16409.27
137,478.17
63,808.59

NWC=TCA-TCL
CNWC=NWC-Dep-Debtors*NPM
Differenc =NWC-CNWC
Diff is accounted for
Dep
NP on Debtors

73,669.58
72,641.79
1,027.79

2015

2014

7700.89
254710.48
262411.37

7700.89
244906.76
252607.65

110178.17
24293.75
35317.3
3117.06
172906.28

91630.9
23421.38
28862.26
2714.46
146629

14082.74
18808.55
23547.43
7369.87
63808.59
499126.24

16310.49
15474.23
49968.27
6865.97
88618.96
487855.61

192067.03
12269.87
189.73

186121.62
14166.77
363.34

36253.96
22423.75
2907.78
266112.12

35202.55
20335.36
3006.5
259196.14

95535.95
55211.02
8812.5
46677.06
10368.32
16409.27
233014.12

98197.36
51510.71
7471.14
50108.27
8055.39
13316.6
228659.47

499126.24

2015, March

487855.61

2014, March

369,216.83
48227.59

347,792.22
46157.01

320,989.24
15593.94
336,583.18

301,635.21
12490.85
314,126.06

51,131.22

49,327.27

124.42

140.08

-3998.88

3915.75

22547.51
7837.26

22157.56
8559.44

15345.97
221,023.29
314010.8

13258.27
200,446.34
297804.7

22572.39
1284.47
0

16321.35
1093.19
0

0
21287.92

0
0
15228.16

2933.14

0
-505.53
1316.3

0
0
2252.14

17544.01

12976.02

22.78
22.78

16.85
16.85

25.4756278
6.21
158.203648638

25.4756278
6
152.8537668

2014
0.76 adj TCA
0.46 Adj TCA-Adj TCL
0.47
0.29
0.07
0.12
3.12
116.95 Assumption that half
40.37 of salary in factory
9.04 workers thus 0.5 and
same for other
10.39
expenses
35.13
(17.99)
2014
51510.71 Gross Profit margin
7471.14 Sales and admin per d
50108.27
8055.39
13316.6
130,462.11
88,618.96

2015
0.4609132692
0.3442845779

41,843.15
40,836.48
1,006.67

marks

1.5

Adj
2014
2015
0.4670075155
55211.02
0.3322661502 7784.709657
46677.06
10368.32

2014
51510.71
6464.4683964972
50108.27
8055.39

16409.27
136450.3797

13316.6
129455.438396497

63808.59

88618.96

CNWC

73,669.58

41,843.15