ratio analysis 07

8/4/2019 Ratio Analysis 07

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As on 31-Mar-07 31-Mar-06 31-Mar-05

OPBIT/Prod.cap.empl.(%) 0.93 15.27 26.31

PBIT/Cap. Employed (%) 7.34 20.58 15.06

PAT/Networth (%) 1.43 22.77 22.84

Tax/PBT (%) 25.83 24.21 10.51

Total Debt/Networth (x) 3.11 2.47 1.73

Long Term Debt/Networth (x) 0.38 0.1 1.73PBDIT/Finance Charges (x) 2.76 4.7 4.42

Current Ratio (x) 1.38 2.29 2.79RM Inventory (days

consumption) 0 0 0FG inventory (days cost of

sales) 0 0 0Receivables (days gross

sales) 31.23 27.77 21.18

Creditors (days cost of sales) 41.04 19.39 27.51

Op. curr. assets (days OI) 172 259 171


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1,076.882469.71

0.436035


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Particulars In Rs. Cr

2007 2006Current Assets Loans &

Advances 3,402.32 4,091.31

Current Liabilities &Provisions 2,469.71 1,865.21

Current Ratio 1.38 2.19

Turnover 7057.78 5693.73Power & Fuel 2427.64 1678.93Power & Fuel Turnover

Ratio 0.34 0.29

Operating Profit 1,037.12 1,431.64Operating Profit

Turnover Ratio 0.15 0.25

Equity 2143.86 2104.81

Debt 6,056.30 4,895.60Debt Equity Ratio 2.82 2.33

The increasing debt equity ratio may have its explanation in current ratio. The company in order to maintain

its current ratio is compelled to increase its Debt equity ratio. In other words the company may have found it

difficult to pay its current liabilities in respect of creditors for fuel expenses and thus to meet its current

liabilities have raised long term secured or unsecured loans.

Ratio Analysis

The ideal current ratio is 2:1. One may argue that the company is fully utilising its resourses, but the reality is

the company is not in a position to hold standard liquidity, which is a big concern for it. The company was

able to maintain a good standard ratio in 2006 when the fuel prices were relatively stable.

The ratio of Fuel expenses to turnover has also increased which leads to a conclusion that the company is

not able to increase the sales in propotion to Power & Fuel expense. Moreover the expense is out of the

control of the company.

Notwithstanding the growth in sales the company is not even able to sustain its Operation Profit Turnover

Ratio. This is a very big concern as the trend may continue and the company may end up with high levels of

Investments together with a negative Operating profit turnover ratio i.e loss.


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Balance

Sheet

Mar '03 Mar '04 Mar '05 Mar '06 Mar '07

12 mths 12 mths 12 mths 12 mths 12 mths

141.92 141.92 86.33 86.33 86.33

72.09 72.09 86.33 86.33 86.33

0.00 0.00 0.00 0.00 0.00

69.83 69.83 0.00 0.00 0.00

-74.66 -112.08 1,664.56 2,057.53 2,018.48 2104.81 2143.86

540.87 387.57 259.27 162.02 132.44 6,056.30 4,895.60

608.13 417.41 2,010.16 2,305.88 2,237.25 2.877361852 2.28354

200.54 60.34 60.00 206.02 742.46

3,581.89 3,149.65 2,904.84 4,689.58 5,313.84

3,782.43 3,209.99 2,964.84 4,895.60 6,056.30

4,390.56 3,627.40 4,975.00 7,201.48 8,293.55

Mar '03 Mar '04 Mar '05 Mar '06 Mar '07

12 mths 12 mths 12 mths 12 mths 12 mths

5,016.93 5,130.88 5,162.79 4,312.07 5,713.83

1,532.56 2,050.21 2,593.46 2,249.58 2,416.34

3,484.37 3,080.67 2,569.33 2,062.49 3,297.49

300.79 46.12 71.32 2,725.66 3,994.52

59.70 233.42 1,595.73 187.23 68.93

341.00 347.44 332.52 405.25 438.99

223.06 234.44 252.31 433.15 603.90

471.95 12.53 49.07 1,524.84 33.99

1036.01 594.41 633.9 2363.24 1076.88

171.15 446.90 347.20 1,148.66 1,262.79

0.00 357.41 1,175.17 579.41 1,062.65

------------------- in Rs. Cr. -------------------

Share Application

Money

Preference Share

Capital

Reserves

RevaluationReserves

Sources Of Funds

Total Share Capital

Equity Share

Capital

Total Liabilities

Networth

Secured Loans

Unsecured Loans

Total Debt

Net Block

Capital Work in

Progress

Investments

Inventories

Application Of Funds

Gross Block

Less: Accum.

Depreciation

Fixed Deposits

Sundry Debtors

Cash and Bank

Balance

Total Current

Assets

Loans and

Advances


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1,207.16 1,398.72 2,156.27 4,091.31 3,402.32

0.00 0.00 0.00 0.00 0.00

661.47 853.00 1,079.89 1,400.06 2,221.55

0.00 278.53 337.76 465.15 248.16

661.47 1,131.53 1,417.65 1,865.21 2,469.71 1.377619235

545.69 267.19 738.62 2,226.10 932.61

0.00 0.00 0.00 0.00 0.00

4,390.55 3,627.40 4,975.00 7,201.48 8,293.55

0.00 121.10 3,097.06 9,736.40 6,624.43

-0.36 -5.55 202.80 248.32 235.61

Total CA, Loans

& Advances

Deffered Credit

Current Liabilities

Total Assets

Contingent

Liabilities

Book Value (Rs)

Provisions

Total CL &

Provisions

Net Current Assets

Miscellaneous

Expenses


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Particulars Mar '03 Mar '04 Mar '05 Mar '06 Mar '07

Income

Sales

Turnover 2,942.10 3,447.42 4,338.01 5,693.73 7,057.78 0.343967

Other Income 0 94.74 41.56 366.74 315.61 0.294873

Total Income 2,942.10 3,542.16 4,379.57 6,060.47 7,373.39

Expenditure

Raw

Materials 0 50.07 71.96 63.12 0Power & Fuel

Cost 650.4 741.78 1,051.73 1,678.93 2,427.64Employee

Cost 263.45 282.24 374.74 567.81 938.55Other

Manufacturin

g Expenses 851.42 553.39 570.57 777.67 1,239.56Selling and

Administratio

n Expenses 278.03 611.8 749.05 1,084.22 1,274.31Miscellaneou

s Expenses 415.03 61.71 58.57 90.34 140.6

Pre-operative

ExpensesCapitalized 0 0 0 0 0Total

Expenses 2,458.33 2,300.99 2,876.62 4,262.09 6,020.66

Operating

Profit 483.77 1,146.43 1,461.39 1,431.64 1,037.12 0.146947 0.251441

PBDIT 483.77 1,241.17 1,502.95 1,798.38 1,352.73Interest 256.13 525.47 461.31 691.24 909.7PBDT 227.64 715.7 1,041.64 1,107.14 443.03

Depreciation 473.27 515.15 457 406.41 414.1

Other WrittenOff 0 0 0 0 0Profit Before

Tax -245.63 200.55 584.64 700.73 28.93

Extra-ordinary

items 125.07 0.54 18.82 41.01 24.49


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PBT (Post

Extra-ordinary

Items) -120.56 201.09 603.46 741.74 53.42Tax -1.19 15.03 190.14 270.22 23.42

Reported NetProfit -244.45 163.11 391.99 452.04 27.94 0.003959Total Value

Addition 2,458.33 2,250.92 2,804.66 4,198.97 6,020.66Equity

Dividend 0 0 25.9 51.8 51.8Corporate

Dividend Tax 0 0 3.63 7.27 8.8

Per share

data(annualized)

Shares in

issue (lakes) 720.89 720.89 863.34 863.34 893.34Earning Per

Share (Rs) -33.91 22.63 45.4 52.36 3.13Equity

Dividend (%) 0 0 30 60 60Book Value

(Rs) -0.36 -5.55 202.8 248.32 235.61

ratio analysis 07

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