balance sheet & ratio analysis
TRANSCRIPT
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8/8/2019 Balance Sheet & Ratio Analysis
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JSW SteelBalance Sheet
Mar '06 Mar '07 Mar '08 Mar '09 Mar '10
12 mths 12 mths 12 mths 12 mths 12 mths
Sources Of Funds
Total Share Capital 497.06 504.04 537.01 537.01 527.11
Equity Share Capital 218.03 225.01 248.08 248.08 248.08
Share Application Money 0 21.76 0 0 0
Preference Share Capital 279.03 279.03 288.93 288.93 279.03
Reserves 3,859.16 5,068.25 7,140.24 7,422.24 9,179.23
Revaluation Reserves 0 0 0 0 0
Networth 4,356.22 5,594.05 7,677.25 7,959.25 9,706.34
Secured Loans 4,058.71 3,632.50 5,497.08 8,214.61 8,987.51
Unsecured Loans 37.34 540.53 2,049.45 3,058.02 2,597.59 Total Debt 4,096.05 4,173.03 7,546.53 ### ###
Total Liabilities 8,452.27 9,767.08 ### ### ###
Mar '06 Mar '07 Mar '08 Mar '09 Mar '10
12 mths 12 mths 12 mths 12 mths 12 mths
Application Of Funds
Gross Block 8,368.43 ### ### ### ###
Less: Accum. Depreciation 1,850.45 2,323.66 2,996.83 3,810.31 4,929.44
Net Block 6,517.98 8,189.10 ### ### ###
Capital Work in Progress 1,861.90 2,002.93 5,612.43 9,242.06 6,684.27
Investments 85.08 192.94 923.53 1,250.11 1,768.35
Inventories 924.23 1,011.35 1,549.16 2,051.42 2,585.77
Sundry Debtors 229.19 245.16 337.39 398.14 563.25
Cash and Bank Balance 55.77 165.96 205.78 207.91 117.4
Total Current Assets 1,209.19 1,422.47 2,092.33 2,657.47 3,266.42
Loans and Advances 1,493.12 1,008.75 997.26 1,980.02 2,216.05
Fixed Deposits 43.1 171.84 133.44 212.05 169.71
Total CA, Loans & Advances 2,745.41 2,603.06 3,223.03 4,849.54 5,652.18
Deffered Credit 0 0 0 0 0
Current Liabilities 2,668.89 3,340.60 5,054.69 9,115.34 9,415.28
Provisions 393.26 75.22 436.01 80.93 264.22
Total CL & Provisions 3,062.15 3,415.82 5,490.70 9,196.27 9,679.50
Net Current Assets -316.74 -812.76 -2,267.67 -4,346.73 -4,027.32
Miscellaneous Expenses 304.05 194.87 0 0 0
Total Assets 8,452.27 9,767.08 ### ### ###
Contingent Liabilities 1,835.96 5,362.37 ### 8,170.64 6,990.48
Book Value (Rs) 259.73 322.8 394.99 410.07 504
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JSW SteelProfit & Loss account
Mar '06 Mar '07 Mar '08 Mar '09 Mar '10
12 mths 12 mths 12 mths 12 mths 12 mths
Income
Sales Turnover 6,686.82 9,337.34 ### ### ###
Excise Duty 594.43 742.31 1,237.86 1,172.70 1,289.18
Net Sales 6,092.39 8,595.03 ### ### ###
Other Income 360.11 110.6 309.91 -608.47 474.25
Stock Adjustments 139.29 -66.54 283.56 285.22 64.74
Total Income 6,591.79 8,639.09 ### ### ###
Expenditure
Raw Materials 3,511.95 4,377.23 6,560.14 9,386.47 ###
Power & Fuel Cost 415.76 393.1 532.43 673.07 1,014.82
Employee Cost 127.04 175.47 273.98 288.75 365.2
Other Manufacturing Expens 72.68 87.84 165.58 194.03 249.6
Selling and Admin Expenses 336.71 572.82 639.26 717.74 724.63
Miscellaneous Expenses 74.42 103.39 146.99 170.58 188.53
Preoperative Exp Capitalised 0 0 0 0 0
Total Expenses 4,538.56 5,709.85 8,318.38 ### ###
Mar '06 Mar '07 Mar '08 Mar '09 Mar '10
12 mths 12 mths 12 mths 12 mths 12 mths
Operating Profit 1,693.12 2,818.64 3,356.23 2,861.17 4,273.56
PBDIT 2,053.23 2,929.24 3,666.14 2,252.70 4,747.81
Interest 365.01 406.81 494.84 836.82 900.26
PBDT 1,688.22 2,522.43 3,171.30 1,415.88 3,847.55
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Depreciation 405.82 498.23 687.18 827.66 1,123.41
Other Written Off 61.79 109.02 0 0 0
Profit Before Tax 1,220.61 1,915.18 2,484.12 588.22 2,724.14
Extra-ordinary items 73.52 16.15 -33.16 176.8 96.03
PBT (Post Extra-ord Items) 1,294.13 1,931.33 2,450.96 765.02 2,820.17
Tax 437.6 639.33 722.77 306.52 797.43
Reported Net Profit 864.29 1,292.00 1,728.19 458.5 2,022.74
Total Value Addition 1,026.61 1,332.62 1,758.24 2,044.17 2,542.78Preference Dividend 27.9 27.9 29.06 28.99 28.92
Equity Dividend 125.58 204.98 261.87 18.71 177.7
Corporate Dividend Tax 21.53 33.49 49.44 8.11 34.31
Per share data (annualised)
Shares in issue (lakhs) 1,569.76 1,639.79 1,870.49 1,870.49 1,870.49
Earning Per Share (Rs) 53.28 77.09 90.84 22.96 106.59
Equity Dividend (%) 80 125 140 10 95
Book Value (Rs) 259.73 322.8 394.99 410.07 504
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Tata SteelBalance Sheet
Mar '07 Mar '08 Mar '09
12 mths 12 mths 12 mths
Sources Of Funds
Total Share Capital 580.67 6,203.30 6,203.45
Equity Share Capital 580.67 730.78 730.79
Share Application Money 147.06 0 0
Preference Share Capital 0 5,472.52 5,472.66
Reserves ### ### ###
Revaluation Reserves 0 0 0
Networth ### ### ###
Secured Loans 3,758.92 3,520.58 3,913.05
Unsecured Loans 5,886.41 ### ### Total Debt 9,645.33 ### ###
Total Liabilities ### ### ###
Mar '07 Mar '08 Mar '09
12 mths 12 mths 12 mths
Application Of Funds
Gross Block ### ### ###
Less: Accum. Depreciatio 7,486.37 8,223.48 9,062.47
Net Block 8,543.12 8,256.11 ###
Capital Work in Progress 2,497.44 4,367.45 3,487.68
Investments 6,106.18 4,103.19 ###
Inventories 2,332.98 2,604.98 3,480.47
Sundry Debtors 631.63 543.48 635.98
Cash and Bank Balance 446.51 465 463.58
Total Current Assets 3,411.12 3,613.46 4,580.03
Loans and Advances 4,025.95 ### 5,884.61
Fixed Deposits 7,234.84 0.04 1,127.02
Total CA, Loans & Advanc ### ### ###
Deffered Credit 0 0 0
Current Liabilities 6,349.24 6,842.26 8,965.76
Provisions 1,930.46 2,913.52 2,934.19
Total CL & Provisions 8,279.70 9,755.78 ###
Net Current Assets 6,392.21 ### -308.29
Miscellaneous Expenses 202.53 155.11 105.07
Total Assets ### ### ###
Contingent Liabilities 7,185.93 9,250.08 ###
Book Value (Rs) 240.31 298.78 331.68
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Tata SteelProfit & Loss account
Mar '07 Mar '08 Mar '09
12 mths 12 mths 12 mths
Income
Sales Turnover 19,756.84 22,191.43 26,843.53
Excise Duty 2,304.18 2,537.02 2,495.21
Net Sales 17,452.66 19,654.41 24,348.32
Other Income 362.12 586.41 603.07
Stock Adjustments 82.47 38.73 289.27
Total Income 17,897.25 20,279.55 25,240.66
Expenditure
Raw Materials 5,762.42 6,063.53 8,568.71
Power & Fuel Cost 1,027.84 1,038.77 1,222.48
Employee Cost 1,454.83 1,589.77 2,305.81
Other Manufacturing Expenses 1,561.40 1,654.96 2,127.48
Selling and Admin Expenses 244.92 247.77 400.24
Miscellaneous Expenses 805.99 1,029.30 1,180.08
Preoperative Exp Capitalised -236.02 -175.50 -343.65
Total Expenses 10,621.38 11,448.60 15,461.15
Mar '07 Mar '08 Mar '09
12 mths 12 mths 12 mths
Operating Profit 6,913.75 8,244.54 9,176.44
PBDIT 7,275.87 8,830.95 9,779.51
Interest 251.25 929.03 1,489.50
PBDT 7,024.62 7,901.92 8,290.01
Depreciation 819.29 834.61 973.4
Other Written Off 0.00 0.00 0.00
Profit Before Tax 6,205.33 7,067.31 7,316.61
Extra-ordinary items 57.29 0 0.00
PBT (Post Extra-ord Items) 6,262.62 7,067.31 7,316.61
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Tax 2,040.47 2,380.28 2,114.87
Reported Net Profit 4,222.15 4,687.03 5,201.74
Total Value Addition 4,858.96 5,385.07 6,892.44
Preference Dividend 0 22.19 109.45
Equity Dividend 943.91 1,168.93 1,168.95
Corporate Dividend Tax 160.42 202.43 214.10
Per share data (annualised)
Shares in issue (lakhs) 5,804.73 7,305.84 7,305.92
Earning Per Share (Rs) 72.74 63.85 69.7
Equity Dividend (%) 155 160.00 160.00
Book Value (Rs) 240.31 298.78 331.68
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Steel Authority of India
Balance SheetMar '07 Mar '08 Mar '09
12 mths 12 mths 12 mths
Sources Of Funds
Total Share Capital 4,130.40 4,130.40 4,130.40
Equity Share Capital 4,130.40 4,130.40 4,130.40
Share Application Money 0 0 0
Preference Share Capital 0 0 0
Reserves ### ### ###
Revaluation Reserves 0 0 0
Networth ### ### ###
Secured Loans 1,556.39 925.31 1,473.60
Unsecured Loans 2,624.13 2,119.93 6,065.19 Total Debt 4,180.52 3,045.24 7,538.79
Total Liabilities ### ### ###
Mar '07 Mar '08 Mar '09
12 mths 12 mths 12 mths
Application Of Funds
Gross Block ### ### ###
Less: Accum. Depreciation ### ### ###
Net Block ### ### ###
Capital Work in Progress 1,236.04 2,389.55 6,544.24
Investments 513.79 538.2 652.7
Inventories 6,651.47 6,857.23 ###
Sundry Debtors 2,314.75 3,048.12 3,024.36
Cash and Bank Balance 437.36 470.17 347.94
Total Current Assets 9,403.58 ### ###
Loans and Advances 3,097.70 3,644.22 4,292.50
Fixed Deposits 9,172.47 ### ###
Total CA, Loans & Advances ### ### ###
Deffered Credit 0 0 0
Current Liabilities 8,105.99 8,960.91 ###Provisions 5,550.78 6,797.83 9,408.21
Total CL & Provisions ### ### ###
Net Current Assets 8,016.98 ### ###
Miscellaneous Expenses 129.15 59.48 0
Total Assets ### ### ###
Contingent Liabilities 5,605.90 ### ###
Book Value (Rs) 41.92 55.84 67.75
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Steel Authority of India
Profit & Loss accountMar '07 Mar '08 Mar '09
12 mths 12 mths 12 mths
Income
Sales Turnover ### ### ###
Excise Duty 5,393.82 6,217.18 5,532.89
Net Sales ### ### ###
Other Income 1,408.71 1,701.59 2,002.77
Stock Adjustments 289.15 436.28 1,872.87
Total Income ### ### ###
Expenditure
Raw Materials ### ### ###
Power & Fuel Cost 2,578.84 2,825.56 3,119.42
Employee Cost 5,087.76 7,919.28 8,401.73
Other Manufacturing Expenses 346.59 492.18 643.35
Selling and Admin Expenses 1,602.31 1,727.55 1,587.61
Miscellaneous Expenses 528.71 737.79 992.85
Preoperative Exp Capitalised -1,423.08 -1,832.22 -1,930.40
Total Expenses ### ### ###
Mar '07 Mar '08 Mar '09
12 mths 12 mths 12 mths
Operating Profit 9,644.51 ### 8,941.44
PBDIT ### ### ###
Interest 332.13 250.94 253.24
PBDT ### ### ###
Depreciation 1,211.48 1,235.48 1,285.12
Other Written Off 128.59 75.49 128.02
Profit Before Tax 9,381.02 ### 9,277.83
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Extra-ordinary items 60.57 64.61 181.26
PBT (Post Extra-ord Items) 9,441.59 ### 9,459.09
Tax 3,253.80 3,934.65 3,284.28
Reported Net Profit 6,202.29 7,536.78 6,174.81
Total Value Addition 8,721.13 ### ###
Preference Dividend 0 0 0
Equity Dividend 1,280.42 1,528.25 1,073.90
Corporate Dividend Tax 197.98 258.91 181.26Per share data (annualised)
Shares in issue (lakhs) ### ### ###
Earning Per Share (Rs) 15.02 18.25 14.95
Equity Dividend (%) 31 37 26
Book Value (Rs) 41.92 55.84 67.75
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Formula
Current Ratio Current Assets/Current Liabilities
Quick Ratio (current Assets-Inventories)/Current Liabilities
Debt Equity Ratio External Debt/Proprietors Fund
Interest Coverage Ratio PBIT/Net Interest Charge
Total Assets Turnover Sales/Total Assets
Fixed Assets Turnover Ratio Sales/Fixed Assets
Inventory Turnover Ratio Cost of Sales/Inventories
Debtors Turnover Ratio Credit Sales/Average Debtors
Net Profit Margin(%) Net Profit After Tax/Sales
Gross Profit Margin(%) (Gross Profit/Net Sales) * 100
Operating Profit Margin(%) (Sales-Cost of Sales)/Sales
Return On Net Worth(%) Net Profit After Tax/Equity
Return on Assets Net Profit Before Interest/Total Assets
Return On Capital Employed(%) (Net Profit Before Interest On LT-Debt)/(Equity+LT Debt)
Earnings Per Share Net Profit After Tax/No Of Shares Outstanding
Year
Company
Ratios
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2007 2008
JSW TATA SAIL JSW TATA SAIL JSW
0.64 1.69 1.52 0.51 3.81 1.68 0.44
0.43 1.37 1.01 0.28 3.52 1.23 0.28
0.84 0.69 0.24 1.06 1.08 0.13 1.515.85 26.19 30.64 6.13 8.35 48.48 3
0.88 0.74 1.61 0.75 0.43 1.55 0.73
0.93 1.68 2.71 0.82 1.2 1.31 0.83
8.52 7.69 5.36 9.26 10.84 8.62 8.75
36.24 29.81 16.36 39.11 33.45 14.9 38.09
14.98 23.53 17.38 14.92 23.43 18.16 3.23
28.55 39.84 29.94 23.43 37.7 25.1 14.51
32.79 39.61 28.09 29.46 41.94 28.19 20.42
23.1 29.95 35.34 22.99 21.52 31.77 5.59
9.8 13.19 17.65 394.99 296.65 55.69 410.0722.89 27.71 44.94 18.76 17.11 44.03 11.53
77.09 72.74 15.02 90.84 63.85 18.25 22.96
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2009
TATA SAIL
0.91 1.74
0.57 1.24
1.34 0.275.71 40.02
0.43 1.25
1.22 1.35
9.36 5.86
41.29 14.43
21.09 13.4
33.69 17.48
37.68 20.41
21.1 22.4
330.24 67.7515.01 27.61
69.7 14.95
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1)Current Ratio
4) Interest Coverage Ratio
7) Inventory Turnover Ratio
2007 2008 2009
1
2
2
3
3
4
4
5
J
S
2007 2008 2009
10
20
30
40
50
60
J
12
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10)Gross Profit Margin(%)
13)Return on Assets
2007 2008 2009
2
4
6
8
10J
2007 2008 2009
5
10
15
20
25
30
35
40
45
J
T
S
100
150
200
250
300
350
400
450
J
T
S
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2007 2008 2009
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2)Quick Ratio
5)Total Assets Turnover
8)Debtors Turnover Ratio
W
ATA
AIL
2007 2008 2009
1
2
2
3
3
4
4
J
SW
ATAAIL
2007 2008 2009
1
1
1
1
1
2
2
45
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11)Operating Profit Margin(%)
14)Return On Capital Employed(%)
SW
ATA
AIL
2007 2008 2009
5
10
15
20
25
30
35
40
W
ATA
AIL
2007 2008 2009
5
10
15
20
25
30
35
40
45
W
ATA
AIL
10
15
20
25
30
35
40
45
50
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2007 2008 2009
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3)Debt Equity Ratio
6) Fixed Assets Turnover Ratio
9) Net Profit Margin(%)
SW
ATA
AIL
2007 2008
1
1
1
1
1
2
SW
TATA
SAIL
2007 2008
1
2
2
3
3
25
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12)Return On Net Worth(%)
15)Earnings Per Share
JSW
TATA
SAIL
2007 2008
5
10
15
20
JSW
TATA
SAIL
2007 2008
5
10
15
20
25
30
35
40
JSW
TATA
SAIL
20
30
40
50
60
70
80
90
100
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2007 2008
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2009
JSW
TATA
SAIL
2009
JSW
TATA
SAIL
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2009
JSW
TATA
SAIL
2009
JSW
TATA
SAIL
JSW
TATA
SAIL
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2009