8020 (tata chemicals)_a
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Balance Sheet Tata Chemicals
in crores
Notes 2015, March
EQUITY AND IABIITIES
Sharehol!ers" #$n!s
Share Capital 3 254.82
Reserves and Surplus 4 5788.45
Non%C$rrent ia&ilities
Long-Term Borroings 5 !73".4
#e$erred Ta% Lia&ilities 'net( ) !"!.23
*ther Long-Term Lia&ilities 7 !.)7
Long-Term +rovisions 8 78.)5
C$rrent ia&ilities
Short-Term Borroings " "7).4)
Trade +a,a&les ! !848.4!
*ther Current Lia&ilities !! 372.84
Short-Term +rovisions !2 )!).7!
T'TA
ASSETS
Non%C$rrent Assets
#i(e! Assets
Tangi&le ssets !3 !".5
Capital /or0-in-+rogress !3 )2.83
1ntangi&le ssets held under #eve !3 .8"
on-Current 1nvestments !4 43)3.85
Long-Term Loans and dvanes !5 42!.32*ther on-Current ssets !) !2.7
C$rrent Assets
Current 1nvestments !7
1nventories !8 !8".3
Trade Reeiva&les !" 248).32
Cash and Ban0 Balane 2 574.3
Short-Term Loans and dvanes 2! !""
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*ther Current ssets 22 37."
T'TA
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Stan!alone re)ort
in crores in crores
201*, March
254.82
544).4!
)43.27 57!.23
!735.5!
2!5.)!
3.)
))2!."5 22.72
!2"".!8
!!"8.73
43!.!8
57.)4
38!4.42 343).73
11++-* 1115+-+
!872.)
!58.)2
4257.)4
4!).222.8"
)7)2." )727.4!
.25
8!.5)
24!.78
"7).85
!83.7"
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Income Statement
.E/ENUE
Revenue $rom *perations 'ross(
Less 6%ise #ut,
et Revenue $rom *perations
'ther Income
Total .een$e
EENSES
Cost o$ aterials Consumed
+urhases o$ Sto0-in-Trade
6mplo,ee Benets 6%pense
9inane Costs 'net(
#epreiation and mortisation 6%pense
*ther 6%penses
Total E()enses
E(ce)tional Items1mpairment o$ ssets
ro3t Be4ore Ta(
Ta( E()ense
Current Ta% e%pense $or urrent ,ear
et Current Ta% e%pense
#e$erred Ta%
ro3t #or the Year
6R1S +6R S:R6
'9ae value per share - Rs!(
Changes in 1nventories o$ /or0-in-+rogress; 9inished oods and Sto0-in- Trade
ro3t Be4ore E(ce)tional Items an!Ta(
6%hange Loss 'net( on 9oreign Curren,Long-Term Borroings inludingRevaluation thereo$
Less Current Ta% e%pense relating toprior ,ears
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Basi
#iluted
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in rores in rores
2015, March 201*, March
!;334.58 8;"!5."8
252.52 23).5"
!;82.) 8;)7".3"
!"4.75 22."2
10,2-+1 +,++2-61
3;778.55 3;!"4.24
2;7!2.54 !;)!4.!
-85.84 !3.!"
33.!7 2)7.5
!8).78 !85.32
!"2.72 !58.82
3;72.8! 2;545."4
7,*22-2 +,075-
+5*-07 +-5
5".3
!58.47
2!7.77
+5*-07 5+-++
22".8) !5!
-8.8!
22".8) 7.!"
-!3.74 )2.)2
2!).!2 !32.8!
6-7 *6-0
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25.4 !7.!2
25.4 !7.!2
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Balance Sheet
8ori9ontal Anal:sis/ertical A
2015 201* Chan;e Chan;e< 2015
EQUITY AND IABIITIES
Sharehol!ers" #$n!s
Share Capital 254.82 254.82 .< 2.!5<
Reserves and Surplus 5788.45 544).4! 342.4 ).28< 48.77<
)43.27 57!.23 342.4 ).< 5."2<
Non%C$rrent ia&ilities
Long-Term Borroings !73".4 !735.5! 3.8" .22< !4.))<
#e$erred Ta% Lia&ilities 'net( !"!.23 2!5.)! -24.38 -!!.3!< !.)!<
*ther Long-Term Lia&ilities !.)7 3.) -!."3 -53.)!< .!<
Long-Term +rovisions 78.)5 )) !2.)5 !".!7< .))<
2!."5 22.72 -".77 -.48< !)."4<
C$rrent ia&ilities
Short-Term Borroings "7).4) !2"".!8 -322.72 -24.84< 8.23<
Trade +a,a&les !848.4! !!"8.73 )4".)8 54.2< !5.57<
*ther Current Lia&ilities 372.84 43!.!8 -58.34 -!3.53< 3.!4<
Short-Term +rovisions )!).7! 57.)4 !".7 2!.4"< 5.2<
38!4.42 343).73 377.)" !.""< 32.!4<
T'TA 11++- 1115+- 7".") ).3)< !.<
ASSETS
Non%C$rrent Assets
#i(e! Assets
Tangi&le ssets !".5 !872.) 28.44 !.52< !).!<
Capital /or0-in-+rogress )2.83 !58.)2 -"5.7" -).3"< .53<
1ntangi&le ssets held under #e .8" .8" .!<
on-Current 1nvestments 43)3.85 4257.)4 !).2! 2.4"< 3).77<
Long-Term Loans and dvanes 42!.32 4!).2 5.!2 !.23< 3.55<
*ther on-Current ssets !2.7 22.8" -!.!" -44.52< .!!<
)7)2." )727.4! 34.)8 .52< 5)."7<C$rrent Assets
Current 1nvestments .25 -.25 -!.< .<
1nventories !8".3 8!.5) ""8.47 !23.!8< !5.24<
Trade Reeiva&les 248).32 24!.78 84.54 3.52< 2."5<
Cash and Ban0 Balane 574.3 "7).85 -42.55 -4!.2!< 4.84<
Short-Term Loans and dvanes !"" !83.7" !5.2! 8.28< !.)8<
*ther Current ssets 37." 58.4 -2.!4 -34.7< .32<
5!).55 443!.27 )75.28 !5.24< 43.3
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T'TA 11++- 1115+- 7".") ).3)< !.<
Income Statement
8ori9ontal Anal:sis/ertical A
2015, M 201*, M Chan;e Chan;e< 2015
.E/ENUE
Revenue $rom *perations 'ross !;334.58 8;"!5."8 !4!8.) !5."!< !2.5<
Less 6%ise #ut, 252.52 23).5" !5."3 ).73< 2.5<
et Revenue $rom *perations !;82.) 8;)7".3" !42.)7 !).!)< !.<
'ther Income !"4.75 22."2 -8.!7 -4.3< !."3<
Total .een$e === +,++2-61 !3"4.5 !5.7< !!."3<
EENSES
Cost o$ aterials Consumed 3;778.55 3;!"4.24 584.3! !8.2"< 37.48<
+urhases o$ Sto0-in-Trade 2;7!2.54 !;)!4.! !"8.44 )8.5< 2)."<
Changes in 1nventories o$ /or0-i -85.84 !3.!" -"8!.3 -753.54< -8.44<
6mplo,ee Benets 6%pense 33.!7 2)7.5 )3.!2 23.)4< 3.27<
9inane Costs 'net( !8).78 !85.32 !.4) .7"< !.85<
#epreiation and mortisation 6 !"2.72 !58.82 33." 2!.34< !."!<
*ther 6%penses 3;72.8! 2;545."4 52).87 2.)"< 3.48<
Total E()enses 7,*22-2 +,075- !327.) !).3"< "3.4)<
ro3t Be4ore E(ce)tional Ite +5*-07 +-5 )7.44 8.57< 8.47<
E(ce)tional Items
1mpairment o$ ssets 5".3 -5".3 -!.< .<
6%hange Loss 'net( on 9oreign !58.47 -!58.47 -!.< .<
2!7.77 -2!7.77 -!.<
ro3t Be4ore Ta( +5*-07 5+-++ 285.2! 5.!4< 8.47<Ta( E()ense
Current Ta% e%pense $or urrent 22".8) !5! 78.8) 52.23< 2.28<
Less Current Ta% e%pense relating to prior -8.8! 8.8! -!.< .<
et Current Ta% e%pense 22".8) 7.!" !5".)7 227.48< 2.28<
#e$erred Ta% -!3.74 )2.)2 -7).3) -!2!."4< -.!4<
2!).!2 !32.8! 83.3! )2.73< 2.!4<
ro3t #or the Year 6-7 *6-0 2!." 4).3< ).33<
6R1S +6R S:R6
'9ae value per share - Rs!( ! ! .< .!<
Basi 25.4 !7.!2 7."2 4).2)< .25<#iluted 25.4 !7.!2 7."2 4).2)< .25
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nal:sis
201*
2.28<
48.8!<
5!."<
!5.55<
!."3<
.3<
.5"<
!8.!!<
!!.)4<
!.74<
3.8)<
4.55<
3.8<
!.<
!).78<
!.42<
.<
38.!)<
3.73<
.2!<
).2"<
.<
7.2)< S$mmar:
2!.52<
8.75<
!.)5<
.52<
3".7!<
Considera&le redue in the trade pa,a&les hih means ompanits redits. 1nventor, has &een drastiall, hih is a negative $orompan, as e have asset piling up ith ni produtivvit,. Cash =greatl, redued hih shos that ompan, e>eientl, managinmone,.*ther urrent and non urrent assets are graduall, redueshos that om an is onentratin on ore &usiness.
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!.<
nal:sis
201*
!2.73<
2.73<
!.<
2.34< ar0s 4
!2.34<
3).8<
!8.)<
!.5<
3.8<
2.!4<
!.83<
2".33<
"3.27<
".)<
.)8<
!.83<
2.5!<
).55<
!.74<
-."3<
.8!< Summar,
.72<
!.53<
5.2<
.!2<
.2<.2<
1nrease in revenue &, !5< shos that ompan, is groing hisign and also &ased on the vertial anal,sis that C*S hasnt inrmuh. But the purhase sto0 and hange in 1nventor, are drastihanged hih means that there is a lotoutsouring o$ sto0 hapand also ompan, is not a&le to meet its sales target.
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learingheBB is
g thed hih
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Balance Sheet
2015 201*
EQUITY AND IABIITIES
Sharehol!ers" #$n!sShare Capital 254.82 254.82
Reserves and Surplus 5788.45 544).4!
)43.27 57!.23
Non%C$rrent ia&ilities
!73".4 !735.5!
#e$erred Ta% Lia&ilities 'net( !"!.23 2!5.)!
*ther Long-Term Lia&ilities !.)7 3.)
Long-Term +rovisions 78.)5 ))
2!."5 22.72
C$rrent ia&ilitiesShort-Term Borroings "7).4) !2"".!8
Trade +a,a&les !848.4! !!"8.73
*ther Current Lia&ilities 372.84 43!.!8
Short-Term +rovisions )!).7! 57.)4
38!4.42 343).73
T'TA 11++-* 1115+-+
ASSETS
Non%C$rrent Assets
#i(e! Assets
Tangi&le ssets !".5 !872.)
Capital /or0-in-+rogress )2.83 !58.)2
1ntangi&le ssets held under #eve .8"
on-Current 1nvestments 43)3.85 4257.)4
Long-Term Loans and dvanes 42!.32 4!).2
*ther on-Current ssets !2.7 22.8"
)7)2." )727.4!
C$rrent Assets
Current 1nvestments .25
1nventories !8".3 8!.5)
Trade Reeiva&les 248).32 24!.78
Cash and Ban0 Balane 574.3 "7).85
Short-Term Loans and dvanes !"" !83.7"
*ther Current ssets 37." 58.4
5!).55 443!.27
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T'TA 11++-* 1115+-+
Income Statementin rores in rores
2015 201*
.E/ENUERevenue $rom *perations 'ross( !;334.58 8;"!5."8
Less 6%ise #ut, 252.52 23).5"
et Revenue $rom *perations !;82.) 8;)7".3"
'ther Income !"4.75 22."2
Total .een$e 10,2-+1 +,++2-61
EENSES
Cost o$ aterials Consumed 3;778.55 3;!"4.24
+urhases o$ Sto0-in-Trade 2;7!2.54 !;)!4.!
Changes in 1nventories o$ /or0-in- -85.84 !3.!"
6mplo,ee Benets 6%pense 33.!7 2)7.5
9inane Costs 'net( !8).78 !85.32
#epreiation and mortisation 6%p !"2.72 !58.82
*ther 6%penses 3;72.8! 2;545."4
Total E()enses 7,*22-2 +,075-
ro3t Be4ore E(ce)tional Item +5*-07 +-5
E(ce)tional Items
1mpairment o$ ssets 5".3
6%hange Loss 'net( on 9oreign Cu !58.47
2!7.77
ro3t Be4ore Ta( +5*-07 5+-++
Ta( E()ense
Current Ta% e%pense $or urrent ,e 22".8) !5!
Less Current Ta% e%pense relating -8.8!
et Current Ta% e%pense 22".8) 7.!"
#e$erred Ta% -!3.74 )2.)2
2!).!2 !32.8!
ro3t #or the Year 6-7 *6-0
6R1S +6R S:R6
'9ae value per share - Rs!( ! !
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RATIO ANALYSIS
I. Liquidity Ratios 2015 2014
1. Current Ratio =CA/CL !.34 !.2"2. Quick Ratio = (CA-Inventories)/CL .8) !.5
3. Cash Ratio =(Cash & BB Current invest! .!5 .28
II. Leverage Ratios
1. "e#t-$%uit Ratio ='on-current ia#/hareh .33 .35
2. "e#t-*ota assets ratio = 'on-current ia#/* .4" .4"
3.Assets-$%uit Ratio =*ota Assets/hareho !.") !.")
,.Interest Coverae Ratio = BI*/inance cos 5.57 2.7
III. Turnover Ratios
1. Inventor *urnover Ratio = 'et Revenue 0ro . 1.1
2."e#tors4 *urnover Ratio = 'et Revenue 0ro ,.5 3.51
3. Averae Coection erio+ =35/"*R 6.1 11.
,. i7e+ Assets *urnover Ratio ='e Revenue 1.,6 1.26
. *ota Assets *urnover Ratio='et Revenue 0 .8 .8
IV. ro!ita"i#ity Ratios1. 9ross ro0it :arin = 9ross ;ro0it/'et reve .2 .11
2.
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1. *ota Return = Ca;ita ain "ivi+en+ >ie+ 55.25< -7.77<
rice at the #einnin o0 inancia >ear 2"2.75 323.7
rice at the en+ o0 inancia ear 442 28).85
Ca;ita ain =(rice at the en+ o0 >-rice at .68? -11.38?
"ivi+en+ ;er share !2.54 !!.7!2
"ivi+en+ ie+ ="ivi+en+ ;er share +urin >/ ,.2? 3.52?Tota# return
2. rice-$arnins Ratio = :arket ;rice ;er sha 1.5 15.5
3. rice-Book @aue Ratio = :arket ;rice ;er ,,.2 28.58
Book vaue ;er share 237.!5838)3! 223.735578!
/B Ratio
/I- Aaltman>s ?%Score @ 1-2NCTA1-* .ETA6-6 EBITTA0-M/EB
?F 2-5 8ealth: G ?@ 1-+1 to 2-5 Hre: Area $n!er scanG ?2-5 'n t
/CT ? 'Current ssets-Current Lia&( .!" .2!
Retained 6arnings T ?'et prot availa .3 .!
+B1TT ." .7
6B# ?ar0et value o$ eAuit,Boo0 !!.53 5.)3
ST ?et revenue $rom operationsT .85 .78
? Score +-66 *-*
Summar, D sore shos that it is health, ompan, groing organiall,
ar0et alue o$ 6Auit, !!2)3.44 73".5!!7
Boo0 alue o$ Total #e&t "7).4) !2"".!8
ar0s !4
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S$mmar:
S$mmar:
S$mmar:
S$mmar:
S$mmar:
Current and Aui0 ratio are managed ell and standaurrent ratio iis !.33 and &ut industr, average is Auitompared to the standard rate
It has ess +e#t as co!;are+ to he e%uit hich sas it can #orrosa0er ;osition.Assets are aso +ou#e to e%uit hich !eans the cuse+. Intrest coverae ratio is o hen co!a;re+ to in+ustr avereasi ;a the intrest ratess hich ;uts it in sa0e one
1nventor, turnover ratio is less ompared to industrialhih is a slight diadvantage &ut its previou ,ear average olletion period is also less ompared to indhih means the ompan, is less eEient in realisin
1n terms o$ earning poer and net prot margin the vlo and hene has to or0 on the prota&ilit,
Return on eAuit, is Auite less to attrative levels o$ !ill liitle onern $or the investors and hene the omor0 on these ratios
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pr-!4 pr-!3
2"2.75 323.7 o0
442 28).85 o0 S$mmar:
ar-!5 ar-!4
!2.5 !
237.!) 223.74
/D1-0NSTA
e Ja: to &anKr$)tc:
Capital ,eild $or TT Chemials has &een ver, goodlast ,ear hih shos a lot o$ good ill and also reFeprie earning ratio. 1t ill denetl, have a hgher valu
ompared to last ,ear
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Standard
rd rate $orhigh hen
!ore an+ it is inan #e e00ectiveae #ut sti it can
l averagegood.
ustr, averagethe sales. 1n
alue are Auite
< hih ispan, has to
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ompared tots in theirtion
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Income Statement
.E/ENUE
Revenue $rom *perations 'ross(
Less 6%ise #ut,
et Revenue $rom *perations
'ther Income
Total .een$e
EENSES
Cost o$ aterials Consumed
+urhases o$ Sto0-in-TradeChanges in 1nventories o$ /or0-in-+rogress; 9inished oo
6mplo,ee Benets 6%pense
9inane Costs 'net(
#epreiation and mortisation 6%pense
*ther 6%penses
Total E()enses
ro3t Be4ore E(ce)tional Items an! Ta(
E(ce)tional Items
1mpairment o$ ssets
6%hange Loss 'net( on 9oreign Curren, Long-Term Borr
ro3t Be4ore Ta(
Ta( E()ense
Current Ta% e%pense $or urrent ,ear
Less Current Ta% e%pense relating to prior ,earset Current Ta% e%pense
#e$erred Ta%
ro3t #or the Year
6R1S +6R S:R6
'9ae value per share - Rs!(
Basi
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#iluted
#$n!s #loJ StatementL Total #$n!s Basis
So$rces
1n in Reserves = Surplus 342.41n in L T +rovisions !2.)5
1n in Trade pa,a&les )4".)8
1n in LT &orroings 3.8"
1n in ST +rovisions !".7
#e in C/1+ "5.7"
#e in other on-C !.!"
#e in urrent investments .25
#e in other urrent assets 2.!4
#e in ash = BB 42.55
Total So$rces 1*-25
#$n!s #loJ StatementL orKin; Ca)ital Basis
So$rces
1n in Reserves = Surplus 342.4
1n in L T +rovisions !2.)5
1n in LT &orroings 3.8"
#e in C/1+ "5.7"
#e in other on-C !.!"#e in urrent investments .25
Total So$rces o4 C **-+1
Chan;e in NC %2*-++
Chan;es in C com)onents
C$rrest Assets
Change in 1nventories ""8.47
Change in Trade Reeiva&les 84.54
Cash and Ban0 Balane -42.55
Short-Term Loans and dvanes !5.2!*ther Current ssets -2.!4
Total Change in Current ssets 5-56
Change in /C %2*-++
#$n!s #loJ StatementL Cash Basis
So$rces
1n in Reserves = Surplus 342.4
1n in L T +rovisions !2.)5
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1n in Trade pa,a&les )4".)8
1n in LT &orroings 3.8"
1n in ST +rovisions !".7
#e in C/1+ "5.7"
#e in other on-C !.!"
#e in urrent investments .25
#e in other urrent assets 2.!4
Total So$rces 12*6-
Chan;e in Cash BB 42.55
Classi3e! CashoJ Statements
A- Cash #loJs 4rom ')eratons
R+ - other inome 443.22
dd 1nterest !8).78
dd #ep'on Cash 6%pense( !"2.72*C9s &e$ore hanges in /C omponents +22-2
Less 1n in inventor, -""8.47
Less 1n in de&tors -84.54
Less1n in Loans= dv -!5.2!
dd #e in other C 2.!4
Less #e in other CL -58.34
dd 1n in trade pa,a&les )4".)8
dd 1n in ST provisions !".7
'C# **5-05
C- Cash #loJs 4rom #inancin;1n in LT Borroings 3.8"
#e in ST &orroings -322.72
#e in de$ ta% lia& -24.38
#ividends -3!8.5473
1nterest -!8).78
#e in other LT lia& -!."3
1n in LT provisions !2.)5
Total %+6-+1
D- 'ther income !"4.75
ABCD -425.!)73Chan;e in CBB -42.55
.eason 4or mis%match
Reported net prot -#ividend 3!".4227
#e in Reserves = Surplus -22.)!725
*verstatement o$ *C9s
dG hange in Cash = BB -425.!)73
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'Reasons an &e &u, &a0 o$ Shares et(
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2015 201* Chan;e
254.82 254.82 5788.45 544).4! 342.4
)43.27 57!.23 342.4
!73".4 !735.5! 3.8"
!"!.23 2!5.)! -24.38
!.)7 3.) -!."3
78.)5 )) !2.)5
2!."5 22.72 -".77
"7).4) !2"".!8 -322.72!848.4! !!"8.73 )4".)8
372.84 43!.!8 -58.34
)!).7! 57.)4 !".7
38!4.42 343).73 377.)"
11++- 1115+- 7".")
!".5 !872.) 28.44
)2.83 !58.)2 -"5.7"
.8" .8"
43)3.85 4257.)4 !).2!
42!.32 4!).2 5.!2
!2.7 22.8" -!.!"
)7)2." )727.4! 34.)8
.25 -.25
!8".3 8!.5) ""8.47
248).32 24!.78 84.54
574.3 "7).85 -42.55
!"" !83.7" !5.2!
37." 58.4 -2.!4
5!).55 443!.27 )75.28
11++- 1115+- 7".")
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in rores in rores
2015 201*
!;334.58 8;"!5."8
252.52 23).5"
!;82.) 8;)7".3"
!"4.75 22."2
=== +,++2-61
3;778.55 3;!"4.24
2;7!2.54 !;)!4.! ds and Sto0-in-Trade -85.84 !3.!"
33.!7 2)7.5
!8).78 !85.32
!"2.72 !58.82
3;72.8! 2;545."4
7,*22-2 +,075-
+5*-07 +-5
5".3
ings inluding Revaluation thereo$ !58.47
2!7.77
+5*-07 5+-++
22".8) !5!
-8.8!22".8) 7.!"
-!3.74 )2.)2
2!).!2 !32.8!
6-7 *6-0
! !
25.4 !7.!2
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25.4 !7.!2
Uses
#e in other urrent lia&ilities 58.34#e in de> ta% lia& 'net( 24.38
#e in other LT lia&ilities !."3
#e in ST &oroings 322.72
1n in tangi&le assets 28.44
1n in 1ntangi&le assets .8"
1n in non-urrent investments !).2!
1n in inventories ""8.47
1n in ST loans = adv !5.2!
1n in LT loans = advanes 5.!2
1n in trade reeiva&les 84.54
Total Uses 1*-25
MarKs 6
Uses
1n in LT loans = advanes 5.!2
#e in de> ta% lia& 24.38
#e in other LT lia&ilities !."3
#e in ST &oroings 322.72
1n in tangi&le assets 28.441n in 1ntangi&le assets .8"
1n in non-urrent investments !).2!
Total $ses o4 C *+7-7
C$rrent ia&ilities S$mmar:
Change in Trade pa,a&les )4".)8 /or0ing Capital ana
Change in other CLs -58.34
Change in ST +rovisions !".7
Total hange in CL = provisions 00-*1
MarKs 6
Uses
#e in other urrent lia&ilities 58.34
#e in de> ta% lia& 'net( 24.38
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#e in other LT lia&ilities !."3
#e in ST &oroings 322.72
1n in tangi&le assets 28.44
1n in 1ntangi&le assets .8"
1n in non-urrent investments !).2!
1n in inventories ""8.47
1n in ST loans = adv !5.2!1n in LT loans = advanes 5.!2
1n in trade reeiva&les 84.54
Total Uses 1*-25
MarKs 0-5
B- Cash #loJs 4rom Inestin;
1n in B'ross Blo0( -222.5 ross Blo0?
#e in C/1+ "5.7" R+'Reported et +ro
1n in investments -!5.")#e in other non-C !.!"
1n LT loans and advanes -5.!2
Total %22-15
ar0 5.5 Total mar0 !7.
S$mmar:
Change in Reserves has &een understated
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US T:)e
9ollo the $olloing
* @ @ve *perating
* - -ve *perating FoS *@ and 9@ 342.4 1 @ @ve 1nvesting Fo
342.4 1 - -ve investing Fo
9 @ @ve 9inaning F
S 9@ 3.8" 9 - -ve 9inaning Fo
H 9- 24.38
H 9- !."3
S 9@ !2.)5
H ".77
H 9- 322.72S *@ )4".)8
H *- 58.34
S *@ !".7
377.)"
7".")
H 1- 28.44
S 1@ "5.7"
H 1- .8"
H 1- !).2!
H 1- 5.!2
S 1@ !.!"
34.)8
S 1@ .25
H *- ""8.47
H *- 84.54
S *@ 42.55
H *- !5.2!
S *@ 2.!4
)75.28
7".")
A&sol$te /al$eo4 Chan;e
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MarKs 5
2!5 2!4
um&er o$ Shares held in the Compan, 25.475)3 25.475)3
#ividend per share !2.54 !!.7!2
6Auit, #ividend 3!8.5473 2"8.37)
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gement is done ell
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et Blo0 @ #epreiation
+T
, 22.)!
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ode $or T,pe o$ Fo
o
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Balance Sheet
2015 201* 2016
EQUITY AND IABIITIES
Sharehol!ers" #$n!s
Share Capital 254.82 254.82 254.82
Reserves and Surplus 5788.45 544).4! 552.5
)43.27 57!.23 537.32
Non%C$rrent ia&ilities
Long-Term Borroings !73".4 !735.5! !73
#e$erred Ta% Lia&ilities 'net( !"!.23 2!5.)! !24.75
*ther Long-Term Lia&ilities !.)7 3.) ).7Long-Term +rovisions 78.)5 )) 74.8!
2!."5 22.72 !278.)3
C$rrent ia&ilities
Short-Term Borroings "7).4) !2"".!8 !384.!4
Trade +a,a&les !848.4! !!"8.73 !255.83
*ther Current Lia&ilities 372.84 43!.!8 !532.85
Short-Term +rovisions )!).7! 57.)4 34.24
38!4.42 343).73 45!3.)
T'TA 11++- 1115+- 11077-01
T'TA Jith E(tra #$n!s
ASSETS
Non%C$rrent Assets
#i(e! Assets
Tangi&le ssets !".5 !872.) !"!!.)7
Capital /or0-in-+rogress )2.83 !58.)2 !37.3
1ntangi&le ssets held under #e .8"
on-Current 1nvestments 43)3.85 4257.)4 3")2.8
Long-Term Loans and dvanes 42!.32 4!).2 2)5.2
*ther on-Current ssets !2.7 22.8" 2.78
)7)2." )727.4! )278.85
C$rrent Assets
Current 1nvestments . .25 .25
1nventories !8".3 8!.5) "27.47
Trade Reeiva&les 248).32 24!.78 2484.88
Cash and Ban0 Balane 574.3 "7).85 !!"!."8
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Short-Term Loans and dvanes !"" !83.7" 2"5.7)
*ther Current ssets 37." 58.4 !".82
5!).55 443!.27 482.!)
T'TA 11++- 1115+- 11077-01
Income Sheet
2015 201* 2016
.E/ENUE
Revenue $rom *perations 'ross !;334.58 8;"!5."8 8;)8.52
Less 6%ise #ut, 252.52 23).5" 22).4)
et Revenue $rom *perations !;82.) 8;)7".3" 8;382.)
'ther Income !"4.75 22."2 3)5.)
Total .een$e === +,++2-61 +,*-
EENSES
Cost o$ aterials Consumed 3;778.55 3;!"4.24 2;"88.7"
+urhases o$ Sto0-in-Trade 2;7!2.54 !;)!4.! !;44.3"
Changes in 1nventories o$ /or0-i -85.84 !3.!" 273.78
6mplo,ee Benets 6%pense 33.!7 2)7.5 273.5)
9inane Costs 'net( !8).78 !85.32 23.25
#epreiation and mortisation 6 !"2.72 !58.82 2!4.2"
*ther 6%penses 3;72.8! 2;545."4 2;3"5.!7
Total E()enses 7,*22-2 +,075- ,56-26ro3t Be4ore E(ce)tional Ite +5*-07 +-5 77*-*6
E(ce)tional Items
1mpairment o$ ssets 5".3 !.8!
6%hange Loss 'net( on 9oreign !58.47 !)7.25
2!7.77 !)".)
ro3t Be4ore Ta( +5*-07 5+-++ +25-6
Ta( E()ense
Current Ta% e%pense $or urrent 22".8) !5! !57
Less Current Ta% e%pense relating to prior -8.8!
et Current Ta% e%pense 22".8) 7.!" !57#e$erred Ta% -!3.74 )2.)2 25.5
2!).!2 !32.8! !82.5
ro3t #or the Year 6-7 *6-0 *6-62
6R1S +6R S:R6
'9ae value per share - Rs!( ! ! !
Basi 25.4 !7.!2 !7.!2
#iluted 25.4 !7.!2 !7.!2
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Ta% Rate .2534!
#ividend 3!8.)2)" 2"8.4452
Retained 6arnings 3!".343! !37.)248
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Ass$m)tions.easons
2.83< o hange due to sales 254.82
).!5< +ro$orma Statement o$ += )28.88
)2."8< )535.7
!).)8< o hange due to sales !73".4
!.")< 232.75
.4< 5.!7.8!< ").48
!".4"< 273.8!
!3.72< o hange due to sales "7).4)
!5.7!< !8)8.88
8."8< !)8.8)
5.34< )35.48
43.7)< 454".)8
!2).23< 16157-17
6%tra 9unds ReAuired !2".5!3288.24
2!.8< 257.3
!.3)< !)2.!4
.< .35
4).54< o hange due to sales 43)3.85
4.5< 48!.2)
.!4< !).77
73.!)< 753!.)7
.< o hange due to sales .23
!2.78< !52.)"
27.33< 325."4
4".7)< Too muh inrease $rom pa )3!.73
Ass$me! HroJth &ase! onin!$str: an! com)an:)reio$s ;roJth
Aera;e )ercento4 sales
ro4orma &alance sheet o4201 ass$min; reen$es
4rom o)eration o4 1+<;roJth
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2.54< 32.!7
.43< 5.8
53.7< 575).57
!2).23< 162++-2*
E(tra #$n!s Aaila&le 127-05
Ass$m)tions.easons
!2.)4< !22!!.3"
2.)4< 3!4.5)
!.< !!8").838
2.88< o hange due to sales !"4.75
!2.88< 12071-5+
3).)5< 435".)"
2.75< 24)8.84
-!.22< -!45.)5
3.2!< 38!.3!
2.!4< o hange due to sales !8).78
2.!< 24".75
2".4)< 355.5
"3.8< 11005-".8< 10+5-+1
.23< o hange due to sales .
!.27< o hange due to sales .
!.5!<
8.2"< 10+5-+1
!.")<
-.3!<
!.)5< !").7).2"< 78.
!."5< Ta% rate does not hange 274.7)
).34< +11-0
!
!7.!2
!7.!2
Aera;e )ercento4 sales
ro4orma Income sheet o4201 ass$min; reen$es4rom o)eration o4 1+<
;roJth
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MarKs
Same alue as previous ,e 3!8.)2)"28
4"2.43!8777332
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1+-00
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*
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Balance Sheet
2015
EQUITY AND IABIITIES
Sharehol!ers" #$n!s
Share Capital 254.82
Reserves and Surplus 5788.45
)43.27
Non%C$rrent ia&ilities
Long-Term Borroings !73".4
#e$erred Ta% Lia&ilities 'net( !"!.23
*ther Long-Term Lia&ilities !.)7
Long-Term +rovisions 78.)5
2!."5
C$rrent ia&ilities
Short-Term Borroings "7).4)
Trade +a,a&les !848.4!
*ther Current Lia&ilities 372.84
Short-Term +rovisions )!).7!
38!4.42
T'TA 11++-*
ASSETS
Non%C$rrent Assets
#i(e! Assets
Tangi&le ssets !".5
Capital /or0-in-+rogress )2.83
1ntangi&le ssets held under #evelopment .8"
on-Current 1nvestments 43)3.85
Long-Term Loans and dvanes 42!.32
*ther on-Current ssets !2.7
)7)2."C$rrent Assets
Current 1nvestments
1nventories !8".3
Trade Reeiva&les 248).32
Cash and Ban0 Balane 574.3
Short-Term Loans and dvanes !""
*ther Current ssets 37."
5!).55
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T'TA 11++-*
Income Statement
2015
.E/ENUE
Revenue $rom *perations 'ross( !;334.58
Less 6%ise #ut, 252.52
et Revenue $rom *perations !;82.)
'ther Income !"4.75
Total .een$e 10,2-+1
EENSES
Cost o$ aterials Consumed 3;778.55
+urhases o$ Sto0-in-Trade 2;7!2.54
Changes in 1nventories o$ /or0-in-+rogress; 9inished ood -85.84
6mplo,ee Benets 6%pense 33.!7
9inane Costs 'net( !8).78
#epreiation and mortisation 6%pense !"2.72
*ther 6%penses 3;72.8!
Total E()enses 7,*22-2
ro3t Be4ore E(ce)tional Items an! Ta( +5*-07
E(ce)tional Items
1mpairment o$ ssets
6%hange Loss 'net( on 9oreign Curren, Long-Term Borro
ro3t Be4ore Ta( +5*-07Ta( E()ense
Current Ta% e%pense $or urrent ,ear 22".8)
Less Current Ta% e%pense relating to prior ,ears
et Current Ta% e%pense 22".8)
#e$erred Ta% -!3.74
2!).!2
ro3t #or the Year 6-7
6R1S +6R S:R6
'9ae value per share - Rs!( !
Basi 25.4#iluted 25.4
C'HS@.M$rchase o4 stocK in tra!e Ch in StocK 734!.74
um&er o$ Shares held in the Compan, 25.475)278
#ividend per share !2.54
6Auit, #ividend 3!8.54725
orKin; Ca)ital olic: 2015
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a eel o4 C$rrent Assets
TCS .5!
CS .23
TCT .43
CT .!"
& C$rrent Asset #inancin;
STBTC .!"STBC .43
Cash Conersion C:cle CCC
1nventor, Turnover Ratio'1TR( ?C*S1nventor, 4.)
#a,s 1nventor, *utstanding '#1*(?3)51TR 8"."4
#e&torsI Turnover Ratio'#TR( ?S#e&tors 4.)
#a,s Sales *utstanding '#S*( ? #e&torsS per da, ? 3 ".!
+a,a&lesII turnover ratio '+TR( ?C*S+a,a&les 3."7
#a,s +a,a&le *utstanding '#+*( ?3)5+TR "!."
CCC@DI'DS'%D' ++-05
C$rrent assets 2015
1nventories !8".3
Trade Reeiva&les 248).32
Cash and Ban0 Balane 574.3
Short-Term Loans and dvanes !"".
*ther Current ssets 37."
TC 5!).55
TCL 2837.")
ross +rot margin .27
et +rot argin .)Sales and admin per rs. *$ S .!5
/C?TC-TCL 22)8.5"
CNC !"7!.)"
#i>erene ?/C-C/C 2")."
DiO is acco$nte! 4or
#ep !"2.72
+ on #e&tors !57.3287!7)
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201*
254.82
544).4!
57!.23
!735.5!
2!5.)!
3.)
))
22.72
!2"".!8
!!"8.73
43!.!8
57.)4
343).73
1115+-+
!872.)
!58.)2
4257.)4
4!).2
22.8"
)727.4!
.25
8!.5)
24!.78
"7).85
!83.7"
58.4
443!.27
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1115+-+
201*
8;"!5."8
23).5"
8;)7".3"
22."2
+,++2-61
3;!"4.24
!;)!4.!
!3.!"
2)7.5
!85.32
!58.82
2;545."4
+,075-
+-5
5".3
!58.47
2!7.77
5+-++
!5!
-8.8!
7.!"
)2.)2
!32.8!
*6-0
!
!7.!2!7.!2
)345.25ssumption that hal$ o$ salar, in $ator, or0ers thus .5 and same $or
25.475)278
!!.7!2
2"8.375527"
201*
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.5!
.2)
.4
.2!
.2".57
7.83
4).)3
3.)!
!!.
5.2"
)8.")
+-
A!P$ste! /al$es201* 2015 2!4
8!.5) !8".3 8!.5)
24!.78 2!8".42453 2!8.)8428
"7).85 574.3 "7).85
!83.7" !"" !83.7"
58.4 37." 58.4
443!.2 48".)5453 4!37.3!
2!37.55
.27
.5.!5
22"3.47
!""".7) ar0s ).
2"3.7!
!58.82
!2.)7255!
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other e%penses
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