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Industry 2.0 February 2010 Issue (Volume 09, Issue 07)

TRANSCRIPT

Page 1: Reinventing the Supply Chain
Page 2: Reinventing the Supply Chain
Page 3: Reinventing the Supply Chain

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 1

R [email protected]

Vol. 09 | Issue 07 | february 28, 2010

Managing Director: Dr Pramath raj sinhaPrinter & Publisher: Kanak Ghosh

EditorialGroup Editor: r GiridharAssistant Editor: P K ChatterjeeSub-Editor: reshmi Menon

dEsignSr. Creative Director: Jayan K NarayananArt Director: binesh sreedharanAssociate Art Director: anil VKManager Design: Chander shekharSr. Visualisers: PC anoop, santosh KushwahaSr. Designers: Tr Prasanth & anil TChief Designer: N V baijuPhotographer: Jiten Gandhi

brand managEmEntGeneral Manager: Nabjeet Ganguli

salEs & markEtingVP Sales & Marketing: Naveen Chand singh (09971794688)National Manager-Events & Special Projects: Mahantesh Godi (09880436623)National Manager Online: Nitin Walia (09811772466)Assistant Brand Manager: arpita GanguliGM South: Vinodh Kaliappan(09740714817)GM North: Pranav saran(09312685289)GM West: sachin N Mhashilkar(09920348755)Coimbatore: D K Karthikeyan (09843024566)Kolkata: Jayanta bhattacharya (09331829284)

Production & logisticsSr. GM Operations: shivshankar M HiremathProduction Executive: Vilas MhatreLogistics: MP singh, Mohamed ansari, shashi shekhar singh

officE addrEssNine Dot Nine Interactive Pvt ltd C/o KPT House, Plot 41/13, sector 30 Vashi (Near sanpada railway station), Navi Mumbai 400703

for any information, write to [email protected] subscription details, write to [email protected] sales and advertising enquiries, write to [email protected]

Printed and published by Kanak Ghosh for Nine Dot Nine Interactive Pvt ltd C/o KPT House, Plot 41/13, sector 30 Vashi (Near sanpada railway station) Navi Mumbai 400703

Editor: anuradha Das MathurC/o KPT House, Plot 41/13, sector 30 Vashi (Near sanpada railway station) Navi Mumbai 400703

Printed at silverpoint Press Pvt. ltd, D 107, TTC Industrial area,Nerul, Navi Mumbai 400706.

editorial

The union budget 2010-11 is around the corner, and the man-ufacturing community is holding its collective breath. Though the

most recent fICCI survey indicates that the double-digit growth registered by the manufacturing sector (since august 2009) will continue for the fourth quar-ter, there is little visible cheer.

The government, concerned by the high rate inflation, its enormous spending commitments, and the paucity of avenues to raise money has been hinting at the withdrawal of the fiscal stimulus package announced last year. With exports still weak, the Indian in-dustry has overwhelmingly opposed any measures that could dampen domestic demand, and lead to a dip in consump-tion and investment levels. Meanwhile, rising inflation and the incipient recovery of the global economy is pushing up the cost of input materials, labour and transportation. Manufacturers, on their part, are reluctant to increase prices—and continue to look for creative ways to manage the situation. The employment picture has also not changed substan-tially, and organizations are still cautious about hiring.

on positive side, the government is making active efforts to secure greater involvement of the private sector in large government-led programmes focused on defence manufacturing, energy, aero-space and railways. since, these areas

were previously limited to the public sector, this move is welcome. That’s because it will enable the domestic manufacturing industry and its legion of suppliers acquire new technologies, skills and manufacturing abilities—and achieve world-class levels, much like the auto industry and the space sector. However, progress on this front hinges on how quickly the government can move and facilitate a productive public-private partnership.

Despite robust domestic demand, the industry has placed its capex plans on hold—while the near-term uncertainty over the direction of the economic policy is resolved. so, it is important that the government move quickly to restore flagging confidence, and take steps to strengthen the growth momentum and continue the stimulus measures. The industry is also looking for a slew of practical measures from the govern-ment—more investment in infrastructure (roads, power, ports, etc.); rapid imple-mentation of the GsT regime to ease ad-ministrative problems; a benign interest regime and better availability of loans; maintenance of a competitive exchange rate to spur exports; simplification of the convoluted income tax and corporate tax rules; a revised Companies act that is in tune with the times; and the continu-ation of the disinvestment programme. a big wish list, for sure. Will the finance Minister deliver? We’ll know soon. n

Co-ordinator Ad Sales, MIS, Scheduling: Deepak sharma

on HoldPuttingbusiness

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contents

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers4

facilities & operations148 Enabling Innovation for Product DevelopmentProduct lifecycle management facilitates faster development of ready-to-market products.

152 Choosing the Right SoftwareIf product lifecycle management software benefits large companies, then the medium businesses can avail benefits of product data management to ease manufacturing challenges.

156 Perfecting the Art of Design EngineeringDesign validation tools enable economic testing of new product designs sans physical prototypes.

management & strategy159 Mitigating Climate ChangeConsiderable efforts are being made to reduce carbon emissions.

cover story

departments

01 Editorial

06 Industry Update

14 Survey Report

15 Advertiser Index

16 Status Quo

161 Product Update

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22 Steering the Growth Wheel The Indian logistics industry is at the threshold of scaling newer challenges and growth opportunities.

32 Moving Towards Bright DaysChanging social and economic factors will give a fillip to the growth of the Indian logistics industry.

22

in conversation

38 Building & Leveraging a Metrics FrameworkAn integrated metrics framework helps business intelligence systems in providing effective supply chain decision making.

42 Designing an Optimal Supply Chain NetworkA look at how Facilities Installation Planner (FIP) helps evaluate and redesign the supply chain.

30S Sridharan

Managing Director TAKE Solutions

35Maha MuzuMdar Vice President Supply Chain Marketing, Oracle

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46 Measuring the Effectiveness of Manufacturing Supply Chains Indian manufacturing has come a long way since the liberalization of the economy.

Companies have relentlessly focused on adopting and assimilating new technologies, using modern manufacturing practices, and focusing on quality to achieve operational excellence. However, the economic downturn during the past months has dramatically shifted the focus to issues like productivity, efficiency and cost reduction. But, is India Inc. taking a hard look at its supply chain?

48 Supply Chain Metrics—Large Manufacturing Companies

78 Supply Chain Metrics—Small & Medium Manufacturing Companies

INSIDE

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46 Measuring the Effectiveness of Manufacturing Supply ChainsIndian manufacturing has come a long way since the liberalization of the economy. Companies have relentlessly focused on adopting and assimilating new technologies, using modern manufacturing practices, and focusing on quality to achieve operational excellence. However, the economic downturn during the past months has dramatically shifted the focus to issues like productivity, efficiency and cost reduction. But, is India Inc. taking a hard look at its supply chain?

48 Supply Chain Metrics—Large Manufacturing Companies

78 Supply Chain Metrics—Small & Medium Manufacturing Companies

INSIDE

Page 7: Reinventing the Supply Chain
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industry update

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers6

Renault India is planning to independently strengthen its base in India. The company

has announced that it would set up an independent distribution network to support the new products. The company is planning to introduce several new cars from its interna-tional portfolio here in India.

“We will create an extensive nationwide distribution network in the next 30 months to ensure

our customers are assured of seam-less service,” said Marc Nassif, country general manager and MD, Renault India.

Fluence and Koleos would be the first cars to roll out of the com-pany’s greenfield manufacturing plant in Chennai in 2011, followed by other models from the global Renault portfolio. Plans are also underway to introduce a small entry level car. n

REpower Systems, in which Suzlon Energy holds 90.71 per cent shareholding, and

French wind and solar power devel-oper EOLE-RES, have signed

an agreement for the supply of 26 wind turbines.

The agreement includes supply of REpower MM92 turbines—with a hub height of 88.5 meters and two

megawatts (MW) of rated power for Langres Sud wind farm in the department of Haute-Marne in the Champagne-Ardennes region. At full power the wind farm achieves a total generating capacity of 52 MW.

The 26 wind turbines are ex-pected to be delivered and commis-sioned by October 2010.

EOLE-RES is the French sub-sidiary of RES Méditerranée SAS, which specialises in wind farm and solar power projects.

Tulsi Tanti, chairman and manag-ing director, Suzlon Energy, said, “France is among the world’s lead-ers in wind energy installations, and an important market for REpower. We are pleased to welcome this order, which underlines REpower’s strong presence in the European wind market.” n

Date: 14 May to

17 May 2010

Chemspec India 2010The exhibition will showcase a wide range of new products,

technologies and services from the agrochemical, dye-stuffs, biotechnology, water treatment, contract and toll manufacture, cosmetics and healthcare sectors.Venue: NSE Complex, Goregaon, Mumbai Tel: +91-22-24044477E-mail: [email protected]: www.chemspecindia.com

Date: 15 april to

16 april 2010

Diemould India 2010The event will display new innovative prod-ucts and manufacturing process, covering the entire gamut of the tooling industry.Venue: NSE Complex, Goregaon, Mumbai

Tel: +91-22–28526876E-mail: [email protected]: www.tagmaindia.org

Date: 18 March to

21 March 2010

eventupdateRenewtech India 2010The event will showcase products, technology solutions and emerging

technologies in the world of renewable energy.Venue: Auto Cluster Exhibition Centre Chinchwad, PuneTel: +91-22-2660 5550 E-mail: [email protected]: www.renewtechindia.com

Date: 9 March to

11 March 2010

Date: 11 March to

15 March 2010

automotive engineering Show 2010

The event will display a wide range of manufacturing technologies, equipment, tools and methods of as-sembly for the automotive industry. Venue: Chennai Trade Centre, ChennaiTel: +91-22-4020 1000E-mail: [email protected]: www.focussedevents.com

Bangalore International automotive expo 2010The trade show will showcase over 500 world class automotive brands,

designs and technology.Venue: Palace Grounds, BangaloreTel: +91-80-2234 2611E-mail: [email protected]: www.wmcpl.com/auto

Repower, eOLe-ReS Sign agreement

Renault Plans Independent Network

The agreement includes supply of 26 wind turbines for Langres Sud wind farm.

Areva T&D Bags Two New Projects

Areva’s Transmission and Distribution (T&D) division has bagged two contracts from Power Grid Corporation of India (PGCIL) for extra high voltage turnkey projects at Moga (Punjab) and Bhiwani (Haryana)

plants. The two orders, with a combined value of 2800 MINR, are for the supply and installation of 765/400 kV air-insulated substations (AIS) for northern grid-II and northern grid-III.

Areva T&D will also provide 765 kV circuit breakers and substation automation systems as part of the project. Both plants are scheduled for commissioning by the end of the first quarter of 2012. n

Page 9: Reinventing the Supply Chain

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Page 10: Reinventing the Supply Chain

industry update

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers8

Emerging from the recent recession, Asia’s small and medium sized enterprises

(SMEs) are today focusing on costs and quality control, says a new report from the Economist Intelligence Unit, titled, ‘Towards the recovery: Challenges and op-portunities facing Asia’s SMEs’. Export-oriented SMEs are altering their strategies to focus on markets closer to home, as they expect demand from Western economies to stay weak.

Based on interviews with corpo-rate officers at SMEs and regional experts, and a review of recent studies published by authorities such as the IMF, the Asian Devel-opment Bank (ADB) and national governments, the report assesses the challenges and opportunities facing SMEs in Asia, and China in particular. SMEs form a crucial market segment as they are the

biggest employers in many of the region’s economies. They were hit hard by the global recession, particularly those companies reli-ant on exports.

The report, however, adds that though Asia’s SMEs faced a tough period, they are in the right region to take advantage of the upturn.

A new intra-regional trade dynamic is also expected to help SMEs. If Asia’s larger economies do become sources of final demand, this will help drive intra-regional trade. The proliferation of free-trade agreements (FTAs) in Asia is testament to policymakers’ commit-ment to this goal.

“SMEs are the entrepreneurial lifeblood of the Asian economies, and those that have shown the toughness and flexibility to survive the financial crisis may well be tomorrow’s corporate stars,” says David Line, Editor of the report. n

Business Confidence Levels Rise in India

asia’s SMes to Focus on Costs, Quality Control Post-recession

Business confidence levels in India have exceeded the October 2009 levels by 7.03

per cent, according to the latest National Council of Applied Eco-nomic Research (NCAER)—Master-Card Worldwide Index of Business Confidence.

The study states that the current Business Confidence Index (BCI) rating of 153.8 points, com-pared to the October 2009 rating of 143.7 points and July 2009 rating of 118.6 points, is the highest rating recorded since January 2008 (154 points).

The index is based on a survey, which measures business confidence on four indicators relating to ‘Overall economic conditions six months

from now’, ‘Financial position of the firm six months from now’, ‘Invest-ment climate’ and ‘Level of capacity utilisation’. All four indicators carry

equal weight.The survey also looks

at trends within firm-specific business outlook indicators, includes a Political Confidence Index (PCI) and stud-ies the global economic

crisis and its impact on vari-ous industries.

T V Seshadri, vice president and country general manager, South Asia, MasterCard Worldwide, said, “The study has captured the upbeat economic climate in India, which is now almost close to the positive rat-ings during early 2008.” n

Biofuel Project Gathers Momentum

The new project, titled, ‘Applications of Biofuels for Aviation’, under the Indo-Canada Science & Technology

Cooperation Programme, has brought together several partners under one roof.

Recently, an agreement was signed with regard to the project, between Indian Oil Corporation (IOC), Hindustan Petro-leum Corporation (HPCL), Indian Institute of Petroleum (IIP), Indian Institute of Science (IISc), Indian Institute of Technol-ogy Kanpur (IITK), Infotech Enterprises (IEL) and the Department of Science and Technology (DST).

The project will be coordinated by Hyderabad-based IEL. It will focus on two streams - developing aviation specific biofuels and blends and development of propulsion and specific combustion tech-nology applicable to blended biofuels.

The fuel development will be carried out jointly by IIP, IOC and HPCL, and analy-sis and testing will be done at research and development institutes. Meanwhile, evaluation tests will be carried out in Canada.

The project is being sponsored by DST, Global Innovation and Technology Alliance (GITA) in India, which is an initiative of CII and the Government of India, DST and the International Science and Technology Part-nership (ISTP) in Canada.

The project partners include Pratt & Whitney Canada (P&WC) and several Canadian research institutes.

The biofuels will be developed from feedstocks specific to India and Canada and will be selected based on sustainabil-ity of supply and potential for Green House Gas (GHG) emissions reduction.

Efforts will be made to focus on developing and validating technologies to convert bio-feedstocks to commercial avia-tion fuels, with specific focus on second or third-generation feedstocks, which do not compete with food or water resources.

Infotech will coordinate the work planned in India, modelling and design support, combustor analysis, redesign and validate the engine components. n

Page 11: Reinventing the Supply Chain

A DIVISION OF CNC SERVICING AND SOLUTIONS / INDIA: NORTH, WEST, EASTTel: 022-27742181, 9320178231 I Email: [email protected]

A DIVISION OF MANAV MARKETING PVT. LTD / INDIA: SOUTHTel: 080-41179452 / 53 I Email: [email protected]

Specifications subject to change without notice. Not responsible for typographical errors. Machines shown with optional equipment.

THE 2010 NEW GENERATION

After more than 20 years of industry firsts, we figured 2010 would be a good year to “up the ante” again. So we looked at any and every way

to make Haas VMCs better, and then made one last change: We added more value.

Specifications subject to change without notice. Not responsible for typographical errors. Machines shown with optional equipment.

IMPROVED: motion control coolant containment • chip evacuation

CNC interface • ergonomics • serviceability r e l e a s e d f o r a c t i v e d u t y : 0 1 . 0 1 . 1 0

VERTICAL MACHINING CENTERS

Haas Factory OutletA DIVISION OF CNC SERVICING AND SOLUTIONS / INDIA: NORTH, WEST, EASTTel: 022-27742181, 9320178231 I Email: [email protected]

A DIVISION OF MANAV MARKETING PVT. LTD / INDIA: SOUTHTel: 080-41179452 / 53 I Email: [email protected]

2010Ads_HFO_India.indd 3 1/12/10 2:53:58 PM

Page 12: Reinventing the Supply Chain

industry update

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers10

alps Partners with Huntsman textile effects

Tata Power, East West Power Sign MoU

Tata Power Company and Korea East West Power Company (EWP) have signed a Memorandum of Understanding (MoU) to identify and execute operation and maintenance (O&M) opportunities relating to

third party generation assets in Asia, Middle East and Africa.Under this MoU, Tata Power and EWP have initiated a technical coopera-

tion in the field of O&M of the generation assets. The technical co-operation will cover exchange of information, best practices and exchange of person-nel relating to the O&M of generation assets.

Prasad Menon, managing director, Tata Power, said, “The MoU will enable exchange of technical cooperation with Korea East West Power Company. Apart from the domestic market, we aim to explore and extend our partnership in widening our O&M portfolio in the Asian market and look forward to the association.” n

Alps Industries has entered into a strategic partnership with Huntsman Textile Effects for ex-

clusive supply of materials for their eight production facilities in India. As per the agreement, Huntsman TE, besides materials, will also provide technical service support to Alps Industries to ensure compliance with stringent global customer requirements.

Paul Hulme, president, Huntsman Textile Effects, says, “India is an important market for us as we continue to expand in Asia Pacific, and we recognise the impor-tance of our key partners in India.”

Huntsman Textile Effects is a global provider of dyes and chemicals to the textile and related industries. n

Stone India and Japan-based Sumitomo Electric Industries have signed an understanding

effective from February 15, 2010, to enter into a joint venture (JV) in a phase wise manner—to locally manufacture air springs in India.

The two companies had entered into a technical collaboration agree-ment in November 2007 for selec-tive manufacturing and assembly of air spring systems for Railways in India. Following this collaboration

agreement, Stone India had com-menced bulk supply of air springs to Indian Railways.

The company had also entered into a separate agreement with Japan-based Tokai Rubber Indus-tries, a subsidiary of Sumitomo Electric Industries for supply of conical springs for primary suspen-sion system of Railways.

Stone India is planning to export metal parts of air springs to Sumi-tomo Electric Industries. n

tII acquires Stake in France Co Sedis

Tube Investments of India (TII) has acquired a controlling stake in Sedis Group, France, through acquisition of

77 per cent of equity of its holding company, Financiere C10. TII acquired the shareholding directly from the financial investors in FC 10

(75 per cent) and a few other shareholders.

The management shareholders will continue to hold the remaining shares in FC10 and be associated with Sedis for a period of three years.

Sedis is a manu-facturer of industrial and engineering class chains in France. It has

two plants in France and a marketing com-pany in the United Kingdom.

L Ramkumar, MD, TII, said, “With this ac-quisition, we will be able to offer the requisite technical skills and a complete range of prod-ucts to meet the requirements of our custom-ers both in the Indian and global markets.” n

Stone India, Sumitomo Join Hands

Indsil Hydro Power and Man-ganese along with its group sister company, Indsil Energy &

Electrochemicals have collaborated with the Muscat Overseas Group (represented by Al-Tamman Trading

Establishment) to set up a new joint venture, to establish a 75,000 tpy ferro chrome smelter in the Sultan-ate of Oman.

The project would have access to 100 per cent captive chrome ore, which would be made available from the existing mining operations of the Muscat Overseas Group.

Indsil will provide the technol-ogy, operating and marketing expertise for the project. The share capital would be held equally by both parties to the joint venture.

The project is expected to cost about Rs 140 crores and is expected to be operational by end of 2011. n

Indsil, Muscat Overseas Plan JV

The joint venture will develop a ferro chrome smelter in the Sultanate of Oman.

TII plans to offer a complete range of products to its Indian and global customers.

Page 13: Reinventing the Supply Chain
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industry update

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers12

Geometric has launched ver-sion 2.1 of DFMPro for Pro/ENGINEER and SolidWorks

with new advancements and a new injection moulding module. The new advancements are expected to help designers check manufactur-ability of plastic designs within the CAD environment.

DFMPro is an automated Design for Manufacturability (DFM) review tool facilitating upstream manu-facturability validation and identi-fication of areas in design that are

difficult, expensive or impossible to manufacture. The product allows quick and in-depth examination of product manufacturability through advanced design rules for manufac-turing processes like milling, drill-ing, turning, sheet metal fabrication and injection moulding.

The injection moulding module helps users validate the designs to check for uniform wall thickness, recommended rib parameters, ap-propriate draft angles on core and cavity surfaces. n

Waaree Energies to Set up Solar PV Power Plant

Solar photo voltaic (PV) module manu-facturing company, Waaree Energies, is planning to set up a 20 MW solar

PV power plant in Gujarat.The company has received approval

from the Government of Gujarat, to set up the plant, under the Solar Power Policy 2009. The proposed power plant will be

installed and commissioned by end 2011. The plant will be built at an esti-mated cost of Rs 300 crores.

“We have received the first Letter of Intent (LoI) from the Gujarat govern-ment for 20 MW and are expect-ing LoIs from other govern-

ments for 80 MW in the near future,” said Hitesh Doshi, Chairman, Waaree Energies.

The energy produced from the plant will be fed to the grid of the state power utilities, for which a Power Purchase Agree-ment (PPA) will be signed.

The company is also planning to under-take similar projects in other states in India and abroad.

Waaree Energies, which was established in 2007, with an aim to providing alterna-tive energy sources, is planning to increase its solar modules’ strength from 30 MW to 100 MW. Plans are also underway to make a foray into the mainstream power genera-tion sector.

“The total installation of solar energy in India is less than 5 Megawatt today and we need more than five Gigawatt in the next 2 to 3 years,” says Doshi.

The Prime Minister of India, Dr Man-mohan Singh has set a target of achieving 20 Gigawatt by 2020. “The goal is set. We have to pursue the same,” he adds. n

Spicer India, a joint venture company of USA-based Dana Holding and Anand Automo-

tive Systems, recently announced the groundbreaking for a new hypoid gear manufacturing facility and testing centre in Chakan at Pune. The new plant will manufacture Dana’s AdvanTEK series of axles.

The greenfield manufacturing plant, spread over 50,000 sq ft in Chakan, will pro-duce 2,40,000 gear sets annually. AdvanTEK axles comprise specially

designed and manufactured hypoid gears with high power density.

“Indian-based OEMs are demand-ing improved efficiency, power den-

sity, fuel economy, torque-carrying ca-pacity and weight reduction,” says James E Sweet-nam, president and CEO, Dana Holding Corporation.

Spicer India, es-tablished in 1993,

is a supplier of axles, driveshafts (also known as propeller shafts), drivetrain products and genuine service parts. n

Geometric Launches v2.1 of DFMPro

Oracle in collaboration with HP has launched an ac-celerate solution to help

midsize industrial manufacturing companies streamline their IT implementations.

The new solution offers hard-ware, software and services to help midsize industrial manufactur-ers effectively manage and grow their businesses.

The solution is built on HP’s BladeSystem infrastructure and StorageWorks Modular Smart Arrays. A range of hardware con-figurations are available based on the number of Oracle e-business suite users.

The product helps reduce the length of the implementation cycle and accelerate time to value and return on investment. n

Spicer Plans Hypoid Gear Plant in Pune

Oracle Introduces New Solution

Dana Holding’s AdvanTEK series.

Hitesh Doshi, Chairman, Waaree Energies.

Page 15: Reinventing the Supply Chain
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www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers14

survey report

Thirty-eight per cent of respondents, of an Atradius survey looking at the impact of the

recession on business in 20 countries, expect the eco-nomic crisis to end in H1 2010 with 45 per cent anticipating a rebound in business within the same time frame. In both cases, more than 60 per cent of respondents expect the crisis to end by year end 2010. Accord-ingly, the responses are fairly consistent with, if not slightly more cautious than, IMF esti-mates—which signal an end of the recession occurring early in 2010. Despite this, there remain significant concerns about business failures, particularly in distressed industries and the financial services sector.

The survey, assessed the opinions of 3500 executives and senior managers from compa-nies in Europe, North America,

Asia and Australia about their views on various economic indi-cators, expectations of business failures, the value of govern-ment actions to stimulate the economy, changes in their use of various risk mitigation instru-ments and the impact of various factors on cash flow during the economic crisis.

Overall, government attempts to stimulate the economy are considered to have had a limited impact in most countries. In 17 of the 20 countries surveyed, more than 40 per cent of respon-dents have experienced no impact from government initia-tives to stimulate the economy. More than 10 per cent of respondents in half of the coun-tries have not even noticed that the government has made any initiatives. What respondents are most interested in seeing from the government are the introduction of more tax cuts or

tax incentives and a reduction in interest rates.

In general, it is expected that cash flow would suffer during the recession, however when looking at it in relationship to specific factors, there are just as many factors that have produced an increase in cash flow as have produced a decrease. The acces-sibility of financing, availability of credit from suppliers and the number of customers are more likely to have resulted in a decrease in cash flow suggest-ing declines in these factors. Changes in cash sales, the length of time within which cus-tomers pay and the availability of credit insurance have resulted in an increase in cash flow, suggesting an increase in cash sales and advance payments and an increase in the focus on receivables management.

On an average, there is a greater tendency across most countries surveyed to increase the use of risk mitigation instru-ments than to decrease use. This holds true for the use of credit insurance, and not credit forms of risk limitation. Most notably, respondents have stepped up the frequency with which they check the creditworthiness of their buyers.

In addition, businesses are paying greater attention to sales and cost issues. Finding new markets or sales channels for products, and a heightened focus on customer service have been essential elements of business continuity—as have gaining ac-cess to financing and reviews of staffing levels. n

Source: Atradius Credit Insurance.

Nearly 40 per cent of

respondents of an Atradius survey expect

economic crisis to end in

H1 2010.

Inclining Towards the Use of Risk Mitigation Instruments

The recession has had a big impact on the way many companies are doing business.

Although some of the results of the survey suggest the opposite result than might be expected, they do show that businesses are paying more attention to managing their business risks and as a result, in many cases, they have been able to improve the performance of their business. Despite this, the short term sentiment of respondents remains cautious and generally pessimistic, particularly when it comes to business failures. As a leading credit insurer operating in more than 40 countries worldwide, these observations are fairly consistent with what we are encountering on a daily business.”

Isidoro Unda CEO, Atradius N.V.

Page 17: Reinventing the Supply Chain

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 15

Most channel organizations targeting Connected Factory opportunities are not offering the software products or integration services cited as most critical by factory and plant managers. Thus, a better channel alignment will unfold wider opportunities.

How channel partners are working with connected factory technologies indi-

cates that only a select few are offering the kind of higher–value software and services, which are key to making faster return on investment (ROI) and higher performing connected factory implementations—a reality.

Demand for cost-management and productivity enhancement tools in factory floor environ-ments will continue to drive rev-enue growth opportunities, in a number of industrial automation and control market segments. Perhaps nowhere will these op-portunities be stronger than in the collection of hardware and software that enables a factory to become more connected, reports a recent study published by VDC Research.

According to research group, strong connections to customers, suppliers, channel partners and

internal engineering, marketing and sales resources will be criti-cal to access the smaller number of harder fought deals available in the current recession.

But those connections are only the beginning for suppli-ers of solutions enabling ‘The Connected Factory.’ Those companies supplying industrial networking, supervisory moni-toring and control enhancement technologies will need to do more, including:l Have real-time tracking of rapidly changing customer requirements, preferences and priorities—technical, com-mercial and financial will be equally acute. l Know specifically what their peers are offering and how com-petitors are closing deals. With growth slowing in many mar-kets—and going away in some—more peers will be chasing fewer dollars with lower prices and . . . what else?

l Control costs—and under-stand the impacts on your product or market and channel development strate-gies—and in turn how that impacts your precious resource allocation, your customer pipe-line and your partners’ contribu-tion requirements.

VDC observes that most channel partners are only offer-ing basic hardware solutions; such as PCs, routers/switches, servers and sensors. In the words of Christopher Rezendes, Executive Vice President at VDC, “The big misalignment here is that when you look at user/ deployer requirements, it is all about software and integration, and many categories within soft-ware and integration services. Hardware is recognized by users as critical, but, the differentia-tion and margin opportunities are concentrated elsewhere.” n

Courtesy: VDC Research Group

Accelerating Growth In Connected Factory Markets

Deccan Cargo ......................................................................BC

Elecon .................................................................................... 3

HAAS Automation .................................................................. 9

Havells .................................................................................13

Mitsubishi .............................................................................. 5

Premium Transmission ....................................................... 17

Rockwell ............................................................................. IFC

Siemens ................................................................................. 7

Tageutec .............................................................................IBC

Zab machine ........................................................................11

Advertiser index

survey report

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status quo

The glue that holds the infrastructure sector is cement, and the growth of cement industry is

directly linked to the growth of in-frastructure sector. India today is the second fastest growing econ-omy in the world with the cement and construction sector being the prime movers. The industry with a total installed capacity of 219 million tonnes is the second larg-est cement producer in the world. The construction activity is ex-pected to make a significant con-tribution in the context of growing housing needs, development of roads and other infrastructure, urbanization etc.

It is the construction sector, which shares the blame of global economic slowdown leading to slackening of demand for housing; but withstanding that hard time, our cement sector is still growing at ten per cent when compared to the global average of five per cent.

The industry has achieved an installed capacity of 242 million tonnes, and is targetted to reach 300 million tonnes by 2011-12 and 600 million by 2020. India has 97 per cent of the installed capacity through dry process. The industry has been adopting latest technologies for energy conser-vation and pollution control, as well as on-line process of quality control—based on expert systems and laboratory automation. De-spite having high demand in India, our per capita cement consump-tion is very low, where the world average is 396 kg, in India the per capita consumption is only 156 kg.

Our cement industry is efficient and eco-friendly, when it comes to energy conservation, the best level is achieved by the indus-try—as far as the data goes 687 kilo calories per kg of clinker and 66 kWh per tonne cement are at par with the best achieved levels in the world. The industry’s effort towards control of emissions, preservations of ecology and its Corporate Social Responsibility (CSR) for environment protection are laudable. The sustainable and long-standing efforts towards reduction of carbon footprint in

the industry is commend-able. CO

2 emission of 0.82 tonnes per tonne of cement pro-duced in 2006 shows a good drop from the level of 1.12 in 1996 and 0.94 in 2000.

On the technology front, the industry has largely adopted state-of-the-art manufacturing technologies. However, the system for cogeneration of power and technologies for low NOx and SO2 emission are yet to achieve many targets. The initiatives taken by the cement industry for waste utilization are evident from the fact—that production of blended cement in the country in the year 2008-09 was as high as 74 per cent as against only 36 per cent in 2000-01. The industry annu-ally recycles more that 30 million tonnes of fly ash, apart from consuming the entire quantity of granulated blast furnace slag.

The rising cost of energy, trans-portation and persistent raw ma-terial pressures have been playing a heavy strain on the cement and construction industry. As a result, the Indian companies have to not only explore alternative sources of energy and materials, but also strive to enhance efficiency.

The industry is in search of competitive advantage. It is continuously improving on the innovation and optimization front. While embracing its commitment to grow and compete globally, it is however not neglecting the eco-logical and environmental needs. The sector is adopting sustain-able development practices and conservation measures, while harnessing energy for its use. The industry is fully committed and partner global efforts to reduce Green House Gases’ (GHGs’) im-pact, and it is mitigating the evil of climate change. n

Courtesy: Press Information Bureau, Gov-

ernment of India.

In spite of global slowdown and reduction in demand, the Cement Industry needs to be

complimented for weathering the downturn and recording a commendable growth of around eight per cent in 2007-08, as well as in 2008-09. In the current year 2009-10 so far, the pace of growth of cement industry has accelerated significantly above double digit.”

Jyotiraditya M. Scindia Minister of State for Commerce & Industry

As far as the environment-friendly operation standard is concerned, the Indian cement industry runs abreast with the global benchmarks.

by sameer pushp

Adopting Sustainable PracticesTo Reduce GHG Emissions

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status quo

Mobile Fibre Extraction

Machine (MFEM)

developed by Central Coir

Research Institute, Coir

Board, Kalavoor.

Coir has been playing an important role in the economy of Kerala, especially the coastal

districts of the state. The social life of people across these dis-tricts is closely knit with the warp and weft of the products manu-factured in the coir units. Of late, the industry has begun to make its presence felt in other coconut producing states of the country as well. The state of Tamil Nadu has gone much ahead in this respect, and in fact large quantities of coir fibre required by the export oriented production units located in Alleppey source their raw ma-terial from the state. In the case

of mechanization also, the state of Tamil Nadu has been making rapid strides, and a large number of entrepreneurs are currently en-tering into the industry. Similarly, the proliferation of this industry in the states of Andhra Pradesh, Karnataka, Orissa and in some non-traditional states like Gujarat has been quite encouraging.

As we all know, the world economy has been reeling under an economic recession, and it is emerging out of its clutches slowly. In the aftermath of the on-slaught of the recession, one item which stood conspicuous by its steady performance was coir. The depression in the economic world

did not affect the exports of coir, and it proved its stencil strength against the rapids and currents in the world economy. During the year, 2009-10, the export of coir and coir products is all set to surpass the target of Rs.700 crores, an all time high export performance from the country. During the previous year (up to December 2009), the export of coir and coir products from the country was 1,79,667 MTs valued at Rs.555.03 crores. When com-pared to the same period of the previous year, there has been an increase to the tune of 30.38 per cent in quantity and 19.44 per cent in terms of value.

In this age of deteriorating environment, one of the primitive industries of India is showing light to the path of environment-friendliness. Indian coir industry is getting modernised, new inventions from the Central Coir Research Institute (CCRI) are accelerating the growth process of the foreign exchange fetching industry.

dr us sarma

Research Outcomes

Speeding up the Progress with

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Modern technology The intervention of Central Coir Research Institute (CCRI) in the coir industry has been instrumen-tal in making the coir industry in the country a modern sunshine industry. There were times when mechanization and moderniza-tion were not acceptable terms for the industry, since they were supposed to cause reduction in employment opportunities. Now, it has been proved beyond doubt that modern technology is a boon to the industry, thanks to the efforts of Coir Board and its Research and Development wing. With the eradication of crude production and processing meth-ods and introduction of modern equipment, now more and more units are being established in fac-tory set up with higher degree of mechanization. This has resulted in increased productivity, better quality of products and better income both to the entrepreneur and the labourer.

Employment opportunities The younger generation which was once averse to take up jobs in the coir industry due to low wages, crude production and pro-cessing methods are now coming forward to take up employment opportunities generated in the sector. Earlier, the industry used to offer only seasonal employ-ment opportunities to the workers due to monsoon and demands of the trade. Now, the factory set up provides regular employment to the workers, consequently the standard of living of workers has been rising steadily.

Major contributions Some of the contributions of the Central Coir Research Institute have been major milestones in the history of coir industry. The development of ‘COIRRET’ by the Institute has revolutionized the production process of ‘white fibre’

by reducing the processing period considerably. This process has also made the job of the work-ers in the industry easier and hygienic. It is an eco-friendly zero effluent process.

Another contribution of the CCRI has been ‘pithplus,’ which elevated the status of coir pith from a menacing substance to a ‘money spinner’, as it found application as a hundred per cent natural manure suitable for a host of crops and horticul-ture applications.

The recent invention of the CCRI, the Mobile Fibre Extraction Machine is going to be an epoch making incident in the history of coir industry by eradicating the perennial problem of shortage of coir fibre in the state of Kerala. In addition to the coir industry, the machine will also help the coconut cultivators by providing additional income to the farm-ers in the form of income from selling coconut husk, which was thrown away as a waste material. The fibre extracted through this machine can be further treated by the eco-friendly process of ‘COIR-RET’ or a ‘conditioner’ treatment developed by CCRI recently, to prepare the best quality of coir fibres for spinning.

The day is not far when the coir fibres blended with other natural fibres will provide new opportunities for development of various value added products like soft luggage, conference bags, shopping bags, curtains and Vene-tian blinds etc. CCRI has already made a breakthrough in this area of research. The dyeing of such products with natural dyes will add further value to these prod-ucts in terms of eco-friendliness.

It seems that two factors, which are going to be of immense help to the industry are global-ization and the growing concern over the degradation of environ-ment. Along with the growing

consciousness of people on the need of turning to environment friendly products for their needs, the exposure of such products to the customer is also becom-ing instant, due to the ubiquitous internet access and online facili-ties. The coir industry is yet to fully utilize these opportunities. Owing to the environment-friendly nature of the products of this industry, the industry can play a major role in the new vista of Carbon Trading. n

Dr US Sarma is the Director, Central Coir

Research Institute, Coir Board, Kerala.

Dew Retting ProcessGreen Husk Fibres: The coir fibres that are obtained from green husks by mechanical means are subjected to soaking in backwaters to remove the colour from the surface. The Central Coir Research Institute (CCRI) of Coir Board developed a process to carry out faster retting of green husk fibres by dipping these fibre bales in RCC tanks on which a bacterial cocktail namely, COIRRET is applied. The effluent arising from the fast retting can also be treated to recycle the water. Recently, CCRI has also developed a new process for treat-ment carried out on the fibres by Dew retting method. The COIRRET is sprayed on the fibres and the treated fibres are kept in a wrapped con-dition for a period of 12 hours. This is a zero ef-fluent process and good retted quality coir fibres are available within a period of 12 hours.

Dry Husk Fibres: The dry husk fibres mostly produced in Tamil Nadu have been found to be difficult for spinning good soft yarn that is re-quired for the mats and matting industry. In order to convert these fibres into soft fibres for getting good quality yarn, the process involves spraying a combination of a conditioner and EDTA and wrap-ping the fibres for a period of one to four hours to get the softening /brightening effect. This is a zero effluent process.

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In a recent gathering of Logistics profes-sionals, Vineet Kanaujia, General Manager (Marketing), Safexpress said, “Our strategy for growth revolves around adding maxi-mum value to the customers at every level, right from providing world-class ware-housing support to managing time-definite

express deliveries. Over the years, Safexpress has been relentlessly working towards carving its own niche in the Supply Chain and Logistics space, which

has made the company stand out in a league of its own.” Thus, adding value at all levels and carving its own niche form the company’s success mantra.

On another such occasion, Anil Khanna, Man-aging Director, Blue Dart Express, said, “We stand committed to support our customer needs and deliv-er value as we face the new opportunities in 2010.” Obviously, the hint is towards commitment to service and value added packaging as the tool behind Blue Dart’s growth.

Indian Logistics and Supply Chain industry is on the verge of a new era. Growing demands triggered by the upswing of manufacturing, retail, food chain and textile sectors will usher a complete facelift of this industry. Changed paradigm, new strategy and technology-aided management will be the key determinants of this transformation process.

by p. k. chatterjee

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It is quite visible that although the future potential is too bright, the present walkway in front of the Indian Logistics Service Pro-viders (LSPs) is not so even, as there are plenty of problems, such as—inadequate infrastruc-ture, lack of skilled manpower, b reaucratic hindrances and so on. Still, some LSPs have achieved great success here, even during the gloomy days of global eco-nomic recession. What is common among these successful players? It goes without saying—their zeal to win, and that leads to innova-tion. Once again, the word ‘innovation’ is highly con-fusing. Where to innovate, and how to innovate are the immediate pertinent questions.

The answers are quite simple, although often not properly focused on. When a Logistics opera-tor thinks—for whom am I providing the service? Invariably, the answer is the customer. So, looking at the service from the customer’s eye is the first and foremost requirement, and that pinpoints the areas where to innovate. Also, a thought on—what are we really doing?—points towards finding out how more products can be picked, packed and shipped perfectly without loss or damage within the least time.

What are the advantages of these? Customer satisfaction, brand loyalty, repeated contracts etc., along with lower labour costs and improved bot-tom lines for distribution operations and so on—all ultimately leading to enhanced profitability. Addi-tionally, lower fuel, power and water consumption, reduced haphazard movement of goods, people and carriers, less traffic on the course et al—finally summed up to reduced damage to the environment.

What does the customer want?A fail-safe delivery in time without damaging goods at a competitive cost—is always demanded by all customers. Obviously, all service providers attempt to address those. Is that all? Then, what is that factor creating difference between the service providers?

Customers are no longer happy with the aver-age kind of services and facilities. In fact, almost literally, each customer has a unique requirement, which may depend on the real requirement or just be a mindset. Thus, meeting a single standard no longer works, the need of the hour is customization. But to what extent? Till the time, it does not affect the service provider’s optimised asset utilization. There comes up the thought to be segment-specific.

However, this also in one way calls for multi mod-al transport capability, and of course an expanded portfolio, which again invite investment. The fund raising venture through Initial Public Offering (IPO) by supply-chain firm Aqua Logistics fits in here as one of the most recent examples.

When F&S felicitated VRL Logistics with the 2009 Voice of the Customer Award for Best Logistics Pro-vider in the Indian Fast Moving Consumer Goods (FMCG) Sector, Nandan Borgalkar, Chief Marketing Officer, VRL Logistics, said, “The award is in rec-ognition of our efficient and prompt service to our customers. VRL has built a strong infrastructure to meet the increasing demands of the customers,

Emerging Trends and Need for InnovationAtul Kulkarni CEO, Chowgule Ports & Infrastructure

Q: What are the emerging trends in the Indian Logistics sector?A: The emerging trend in India is outsourcing of Logistics function to Third Party Logistics Service Providers (3PLs), with whom there is a strategic partnership. The focus is shift-ing towards concentration on core business activity. More service providers with no asset base but ability to organize resources, and provide innovative solutions will be dominat-ing the market. The warehousing sector will undergo a sea change. Many new concepts and services, which are not fall-ing under traditional warehousing functions, will be offered as value added services. The retail sector will demand high efficiencies and look for zero inventory. Q: How should the Indian Logistics companies innovate to sustain in the coming days?A: The way forward for Indian Logistics companies is to un-derstand the solutions offered by multinationals and over-seas entities in order to sustain competition. The thriving large domestic market and already existing network should be used as strength. Training of manpower to deliver desired service levels, and understanding of novinces of operating in diverse cultural background will work to their advantage. It is therefore essential for Indian Logistics companies not to loose focus from the domestic market. The hub and spoke model and cluster approach will further enhance the viability.

Q&

A

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especially in FMCG sector. Corporates expect fast, reliable and on-time deliveries to reach the ultimate destination; VRL has understood the importance of being able to deliver on time and achieve this within a short span of time.”

Focusing more light on Nandan’s statement, GS Ayyer, Vice President (Finance) of the company in-formed, “A customer always desires committed ser-vice from the appointed LSP. Here, service covers activities, namely—timely pick-up, assured last mile delivery and pro-active information flow of this activ-ity to customer.” When explaining why LSPs need to be segment-specific, Ayyer said, “Need of a segment-specific service provider is felt by a customer for

getting confidence of handling and delivering shipments as per com-mitment to the customer’s cus-tomers. Segmentation depends on various factors like—product seg-ment, geographical segment etc.”

He continued, “In Indian sce-nario, geographical spread is very wide, and at the same time service providers are high in number. Very few of them are organised, and they do work on strength of their geographical and infrastructural network. Own vehicle strength of the service providers is very meagre in India. Single and up to

five vehicles strength players in market operate on route-specific or region-specific strength.”

According to Ayyer, multi modal capability of ser-vice providers is very important these days. Since in the entire Supply Chain movement of shipments to the end user with different volumes and time sensitivity, engaging different service providers at different legs till last mile delivery is an uphill task to the customer. Hence, it is becoming call of the hour to engage single service provider—who can deliver to the end more economically and time sensi-tively. With multi-modal capabilities service provid-ers can give one-stop Logistics solution to custom-ers. Fair enough!

An interesting fact found through a recent re-search by Frost & Sullivan (F&S) is the lower prefer-ence of end users for long-term contracts with LSPs. Their observations reveal—long-term contracts be-tween LSPs and end user companies were low across all industries in the country. A majority of the com-panies either had no contracts with LSPs, or had just one year contracts, indicating a tendency toward frequent change of LSPs. F&S Industry Analyst Sri-nath Manda said, “About 90 per cent of users across industries mentioned cost saving followed by prefer-ence to focus on core competency as the primary rea-sons for engagement of Logistics service providers.”

Commenting on Srinath’s statement, U K Kaushal, Head—Pune Plant, Apollo Tyres, opined, “It is a fact that most industries go for short-term contract with the LSPs.” However, the complexity and the volume of the services required play an important role in deciding the term of the contract. In case the logis-tics requirements are highly specialized, the long term contract may be the preferred choice. Where the volume and the complexity are low, the short term contract fits in quite well with annual plan—especially, in a market where there is competition and inflation.”

Major Trends and Ways to Innovate

Q&

A

Mangesh PathakPrincipal, Ambit Pragma Ventures

Q: Which direction is the Indian Logistics sector moving towards? A: Well, I see three major trends are emerging.

First of all, Supply Chains will no longer compete based on regulatory or tax arbitrage. The ability of LSPs to orchestrate various links of the entire chain, therefore, will become more important. Secondly, the industry (customers of LSPs) is real-izing that the asset owner is not necessarily the best service provider. Domain knowledge with execution capability is be-coming more important to win contracts.

Thirdly—adopt technology or perish. In the past, custom-ers had been forcing LSPs to use technology. This will no lon-ger be the case in future. LSPs will have to take initiatives to assess the technology needs of their customers and provide them with domain specific solutions.

Q: How should the companies in this sector innovate?A: Saving costs for their customers has been a major sell-ing proposition for LSPs. They will need to shift their focus from saving costs to creating value for the customer. This is possible only if LSPs develop a very sharp domain expertise in select industry verticals. One of the imperatives for the Logistics industry is to find ways to attract and retain talent in the industry. Q: What is your advice to small LSPs?A: For small LSPs to be sustainable, they must develop their niches and grow within them initially.

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“LSPs must focus on the value added services for long term mutu-al advantages in terms of Commu-nication system, Vehicle tracking, Loadability, Packaging, Optimal vehicle size and shape, and Cost competitiveness. Every industry has potential to reduce long term cost. However, the initiative by LSPs to understand the complexi-ties of requirements of the end users, and working out integrated solutions—would make long term contracts lucrative. Now, LSPs are growing in size and competency, the long term contracts may be better choice in near future,” explained Kaushal.

What is the present scenario?According to The Associated Chambers of Commerce and Industry of India (ASSOCHAM), “Exorbitant Lo-gistic cost (14 per cent of the total value of goods) in India is primarily responsible for making goods un-competitive, and may further erode the competitive-ness in the international market unless corrective measures are taken.” The chamber feels providing ‘industry-status’ alone would facilitate development of the sector, and bring down the current Logistic cost of 14 per cent to the level of China, where it is 10 per cent. As per ASSOCHAM’s observation, in the developed countries these costs are between six to eight per cent of the total value of goods.

A recent CRISIL Research study of the Logistics expenditure in India reveals that the efficiency of Logistics network in the country lags behind that of many developed nations. The research also high-lights, the total Logistics spend covering both pri-mary and secondary movement was around 10.7 per cent of the GDP in 2008-09, which is significantly higher than the 5 to 7 per cent across developed na-tions. The higher spend is largely due to inefficient

Logistics operations, multiple tax structures, inad-equate Logistics infrastructure and unorganised na-ture of the industry.

The fifth annual ‘Voice of the Customer’ study from F&S (just released) finds – LSPs in India performed well above end-user expectations in some key per-formance criteria, such as—fleet size, vehicle qual-ity, number of warehouses and warehouse size. In parameters, such as—value addition, consignment tracking facility and cost saving initiatives, LSP per-formance came close to end-user expectations. But the LSPs lagged significantly behind end-user expec-tations on key performance criteria, such as—pro-cess improvement capabilities, material safety and attitude of staff.

According to Analyst Srinath of F&S, “Foremost among the challenges in Logistics for a majority of companies across industry verticals are safety of

Customer’s Demand and Evaluation TechniqueDebojyoti Ray Chaudhuri Assistant Manager – Supply Chain, Kansai Nerolac Paints

Q: What is your first question to any LSP approaching you for a contract? A: I will enquire about their fleet size, routes on which they are strong and type of cargo carried.

Q: How do you assess an LSP’s capability before allotting contract? A: We first check their profile, and it is reviewed by a refer-ence check. We confirm if they can indeed provide a strong service in a particular route. We also check the financial soundness of the company.

Q: What kind of value do you look for in an LSP? A: Efficient and responsible transportation of goods... Re-sponsive support staff... Responsibility of entire documeta-tion, which includes filling up road permits in certain states, collection of modvat papers etc...

Q: Where do the Indian 3PL service providers need to im-prove? A: Tracking of consignments, quality of fleet, billing proce-dures and adequate literacy of support staff of the organiza-tion are some of the areas, where they need to improve.

Q&

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&A

Goods are kept in a modern warehouse.

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goods during transit and warehousing, inefficiency of LSPs in adhering to timelines and the low skill lev-els of Logistics personnel. Inability of LSPs to keep pace with evolving volumes of end users, and the lack of multimodal transportation capabilities are other impediments. Further, the risk of information leak is a cause for angst among end-users.”

Thus, one of the major drawbacks in India is poor Logistics infrastructure that has been raising Logis-tics costs compared to other countries, and making our products uncompetitive. Another key feature of-fering a major obstacle to smooth Logistics is the fragmented nature of the industry. Except for only a few very big operators, others do not provide a complete solution. Then there is lack of visibility of Supply Chain because of either lack of deployment

of modern technology or ineffi-cient use of the installed technol-ogy. Of course, there are many other problems, such as shortage of adequately trained manpower, bureaucratic interference etc. So, the industry needs to overcome all these stumbling blocks to emerge as the best-in-class worldwide.

How is the scenario changing?With rapid growth in Indian manu-facturing sector (along with grow-ing textile and organized retail sector) in this globalized era,

companies are now looking at concentrating more on their core activities, thus the trend of outsourcing Logistics operation is ever increasing. Third Party Logistics service providers (3PLs) are supposed to possess better skill and knowledge in handling cargo—naturally expectation for better goods han-dling and market penetration capability from them is very high.

A recent Datamonitor survey communicates, “In India, 3PL operators have a 15 per cent share of the Automotive Logistics industry. The 3PL industry receives almost half of its revenues from the automo-tive sector, and its share of this market is expected to grow around 24 per cent annually to reach 60 per cent by 2012. With the Indian automotive industry set to grow at a robust annual average of 13 per cent over the next five years, and global companies in-creasingly sourcing components from India, the op-portunities for 3PL players are very promising.

According to a recent report on 3PL market in India from RNCOS, they expect—improving infra-structure and focus on core business operations will lead the future growth of the Indian 3PL market. The market is projected to witness a CAGR of around 30 per cent during the period 2010-12, harvesting total revenue of nearly US$ 4 billion.

ASSOCHAM predicts, outsourcing of 3PL busi-ness in India is all set to acquire a size of US$ 90 million by 2012—as the concept introduced in US and Europe is fast catching up the pace to increase the efficiency of domestic corporates through effi-cient Logistic functions.

As far as government’s initiative is concerned, the plans focusing the manufacturing industry will indi-rectly benefit the Logistics and Supply Chain indus-try, as so far there is no separate recognition of this industry as an individual industry. The government has taken up major plans to build industrial corri-dors, inland water way facilities, better connectivity

Need for Multi Modal Transport Capability

Q&

A

Anshuman Neil BasuPresident, CSCMP, Roundtable Mumbai, India

Q: What does a customer want from an LSP ?A: Complete accountability and ownership. Currently in India, many service providers including multinational corporations (MNCs)—are engaged in providing 3PL services, but most fail to be complete professionals in their services. They rely heav-ily for a constant support and involvement of their clients, and mostly this becomes a practice over the period. Hence, a sense of ownership is lacking in most cases.

Q: Where is the need to be a segment-specific service provider?A: Overall, I feel a service provider should not be only seg-ment-specific. As SCM encompasses all the areas of goods movement—from the raw materials till the end user, a service provider should be an expert in all segments or commodities. This gives the service provider an expertise, which everyone is looking at desperately in the growing Indian market.

Q: Why multi modal transport capability is important these days? A: Multi modal transport is the future. India cannot afford to lag behind in network and quality of its capability. Private sectors should take the lead and make this world-class. This is India’s decade. Multi modal transport will turn out to be much more cheaper, and will ensure it reaches many places in considerably less time, and thus being more competitive.

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for ports, airport upgradation etc. However, most of the projects are being taken up through public-pri-vate participation. A few (not all) major plans include: Delhi-Mum-bai Industrial Corridor (DMIC) project worth Rs. 3,60,000 crore to build a Global Manufacturing and Trading Hub with emphasis on expanding manufacturing and service hub, this will boost the Lo-gistics sector too, notably, it will include three sea ports and six air ports. Projects are being formu-lated for major ports to have mini-mum four-lane road and double line rail connectivity. Inland water way development projects are also on anvil in the stretch of River Go-davari, Kakinada-Puducherry stretch of canals and stretch of Matai river.

What are the emerging trends?In the service front, Indian LSPs are gearing up to present a wide spectrum of Logistics services port-folio in all air, water and land segments. Utmost at-tempts for creating visibility of Supply Chain, and assuring unhindered services with absorption of in-formation and communication technology (ICT) are quite prominent. Enormous efforts are being put to reduce transportation costs, to remain competitive. Also, attention is being paid on improving Reverse Logistics operations.

In the policy level, formulation of new strate-gies, although at its nascent stage, incorporating relief from non-beneficial race of competition is also on cards. Perhaps the statement of Bharat Joshi, Director, Associated Container Terminals best ex-plains that. He feels, “Collaborative supply chains hold tremendous promise for those who can engage in co-opetition.” So, the message is very positive—a paradigm shift from competition to co-opetition is one of the remarkable recent trends.

Gearing up for reaping benefits from the post Goods & Services Tax (GST) implementation era is going on in full swing. Whereby setting up of state-of-the-art warehouses at strategic locations and reformulation of distribution strategies are gain-ing importance.

In the quarter of technology absorption, where re-cently, Kale Consultants, in their study titled “Tech-nology Adoption in the Indian Logistics Industry” revealed that 76 per cent of Indian Logistics com-panies need to significantly improve their technology adoption levels, the scenario is changing now.

According to NOVONOUS, India spends 15 to 20 per cent of its GDP on Transport and Logistics com-pared to an average 8 to 10 per cent in other devel-oping countries. The freight transportation industry trends indicate that freight operations that are port based, are to grow at 20 to 25 per cent, with the pro-posed capacity additions at major and minor ports.

Although, thoughts on Green Logistics have been hovering over the entire Indian Logistics industry, translation into practices in a mass scale is yet to start. As on date, to a great extent it is because of administrative pressure. In its true sense, we are just at the doorway of practising Green Logistics. However, with more acceptance of the concept of co-opetition (if taken up seriously by the LSPs), the real era of Green Logistics will commence.

Emerging Issues and RemediesRolf Habben-JansenCEO, Damco

Q: India faces the hurdle of lack of good infrastructure for the growth of its logistics industry. What do you feel about this?A: Good infrastructure will definitely promote the Logistics in-dustry in India. Lack of infrastructure adds risks, affects reli-ability and in general – increases the overall Logistics costs affecting the overall competitiveness of the economy.

India is a very vast country where the manufacturing centres and consumption centres are spread across a wide geography, thus state-of-the-art design of Supply Chains will ensure economic and efficient distribution.

The country’s trade is dominated by a few gateway ports and the road or rail connectivity to these gateway ports has limited capacity. These need to be addressed urgently.

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Conclusion3PL industry will continue to gain more and more importance. However, competition will be manifold, because of the entry of the expert and financially sound foreign players, as well as big Indian players from other fields, e.g., Gammon India.

Some segment-specific expertise will gain much more importance. For example, because of the fast growth of the food product industry, opening of the food chain outlets and shifting food culture in differ-ent parts of the country, 3PL in food Supply Chain (Cold chain) will carve a successful niche segment. However, LSPs with versatile capabilities will find more opportunities.

Customers’ need for complete solution will be acute. Getting contracts for only a section of Logis-tics and Supply Chain functions (of a company) will be more difficult gradually, except for a few areas like landfill, slag removal contracts, generally where there will be no requirement for storage.

Ultramodern warehouses with huge capacity and versatile capabilities are to come up at many stra-tegic locations. Their list of functions too will start including many innovative services, which may in-clude jobs like repair and maintenance, spot testing of damaged products.

For every Indian LSP, to win in the market battle of cut-throat competition, deployment of ad-vanced technologies will be most essential, as it will bring in real time visibility of operations lead-ing to making prompt decisions in every aspect. Moreover, to a great extent ICT can nullify the potential losses due to lack of the coun-try’s infrastructure. For example, route diversion in time because of advanced information of traf-fic congestion, saving perishable goods from natural or unforeseen adverse situations etc.

Multi modal transport capability will find huge demand, as it will lead to offering economic pack-ages for goods shipping. Also, from manufacturers’ end there will be tremendous effort to improve Re-verse Logistics, which is a weak area of our Supply Chain today. Focus on safety and security of goods in transit will receive more attention. Right tracking technology will ease the job for LSPs.

In order to taste the pie, the small and medium operators will look for strategic alliance and growth partnership to be capable from all angles. There is no alternative, as money market will not go easy for them till the Logistics and Supply Chain industry is given official recognition or status of a full fledged industry sector; once again the recent launch of Rs 150-crore IPO of Aqua Logistics bears its witness. The company had to extend the closing date as the issue was not fully subscribed, also it had to reduce the price band to Rs 200-225 per share from pro-posed Rs 220-230.

However, experienced 3PL service providers of Indian origin seem to overcome all the blows, if they can smartly throw their dice to join hands and form ties to share experience and efficiency of one anoth-er. Thus, it is time to rethink, reengineer and rebuild through M&A and co-opetitive approach.

The ever growing need for people with field-spe-cific knowledge will force the operating companies—to either create their own training institutes or join hands more firmly with the existing academia to in-fluence practice-oriented redesign of their syllabi.

At the outset I drew your attention towards val-ue addition, I am not lost in the bush of words, at the end I say, to be in the market tomorrow the pro-cess of value addition has to be endless. Because, what you do today, will be imitated immediately, thus, the unceasing flow of adding values to value added products will continue to retain unique iden-tity in the market. n

Need for Contemporary Knowledge

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Sanjay Goel Chairman, GTC Group

Q: What are the emerging trends in our Logistics and Sup-ply Chain sector?A: The sector is in continuous evolving mode. The future will bring mergers and acquisitions amongst service providers, so that economies of scale can be availed.

Q: What are the areas where Indian LSPs need to innovate?A: Education is one area where service providers have to in-novate a lot. Most of the institutes are providing knowledge, which is not contemporary or relevant to the ever changing Supply Chain scenario. They have to look beyond the univer-sities or colleges – which are giving just degrees.

Q: How should they do that? A: They may ask industry experts to conduct workshops and devise programmes, which are concurrent with the industry.

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What type of area-specific solutions are being sought by the Indian Logistics Companies? Unlike procurement of materials, use of software solutions by customers for managing procure-to-pay processes for services, especially Logistics services, has always been very limited in India. The process of requisitioning and procuring Logistics services is usually administered manually, leaving little scope for logistics providers for improvement in quality of customer service.

Also, Logistics Service Providers (LSPs) in India are spending significant energies towards expediting payments, as this process typically involves multiple entities within and outside the customer organiza-tion. Their inability to submit electronic invoices, which enable instant verification and processing, puts added pressure on the already difficult working capital management scenario.

Until now addressing these challenges required investments in software solutions and IT from both

service seeking and service providing companies. With web-based technologies and pay-for-use soft-ware-as-a-service (SaaS) solutions, Logistics com-panies in the organized and unorganized sectors now have access to instant Return On Investment (ROI) solutions that address these challenges.

These solutions not only automate the order-to-cash and accounts receivable processes for LSPs, but also the procure-to-pay and accounts payable processes for their customers. They also bring the capabilities to track transactions, shipments and packages, as well as providing automated alerts to customers.

Do you find any notable paradigm shift among the small fleet operators—as far as adopting software solutions is concerned? The problems that small fleet operators face are no different from that of the large ones—except that their working capital pressures are far stronger. As a result, their propensity to invest in software so-lutions, and to adopt new technologies, is low. The onus is on the software solution providers to make such solutions accessible to them at affordable cost—once again this highlights the need for zero-investment, pay-as-you go software solutions for all members in the business ecosystem.

Information technology (IT) helps Logistics Service Providers (LSPs) in enhancing quality of customer service, reducing revenue leakage and containing costs. SaaS platforms delivering web-based software on a pay-for-use model do not call for huge initial investment to reap benefits of IT. S Sridharan, Managing Director, TAKE Solutions, unfolds some of the potential areas to P K Chatterjee, where Indian LSPs can take IT advantage through pay-for-use pricing model.

“LSPs Will Have Access to Software Solutions That Offer Instant ROI”

S Sridharan, Managing Director, TAKE Solutions

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For very small LSPs, which are not computer literate, the challenge is to deliver these solutions through familiar technology options like cell phones.

What sort of difference do you find in use and demand of software solutions among Indian Logis-tics operators compared to their peers in the devel-oped countries? Fundamentally, the logistics industry in India is fragmented. There are a large number of small and medium businesses, which rely heavily on few essen-tial assets supported by manual labour. Given the fragmentation, most customers in India are forced to have multiple LSPs and allocate their requirements across them based on SLAs commensurate with the general industry automation levels. Take warehous-ing for example, the level of automation here—even for a large LSP is very small compared to those in the developed countries.

With increased consolidation in the industry, the ability to invest and benefit from automating opera-tions, and processes across organizational boundar-ies, would increase. This would drive the software solutions focus from effective operations and vis-ibility—to capability building and efficiency genera-tion. For example, in warehousing, this will result in increased demand for software solutions that sup-port compliance labeling, use of hand-held devices, cross-docking capabilities, system assisted opera-tions etc.

What is the most recent technology in this field ac-cording to your assessment? Adoption of web-based software for business ecosys-tems through SaaS model will see a lot of demand. These solutions offer the twin advantages of ad-dressing the needs of the small and mid-sized LSPs in terms of lesser cost and fewer resources, as well as being easy to adopt and use.

Mobility, combined with business applications de-livered on SaaS model, is expected to see increased LSP adoption—this will not only improve visibility of their operations internally, but can also help in offer-ing value added services to their customers.

Though RFID is another talked about piece of technology, the adoption rates would depend sig-nificantly on how concerns over issues such as costs and its applicability in heavily metallic environment are addressed.

Can you give an idea of the payback period after a software solution is deployed in a Logistics firm? With multi-tenant SaaS platforms delivering web-based software on a pay-for-use model, LSPs

will have access to software solutions that offer instant ROI.

For instance, LSPs could benefit from automat-ing their order-to-cash and accounts receivables and shipment or package tracking processes, using SaaS platform for delivering high-value Supply Chain Solu-tions to trading partners in a multi-enterprise busi-ness ecosystem. Such solutions come with low and affordable fixed monthly subscription options.

Unlike software solutions delivered on a licensed model, the LSPs would gain instant ROI as soon as they join the ecosystem, through membership attri-bution and readiness to do business with potentially all their customers. There is no investment and no pay-back period involved. Payback-period would be relevant only for software solutions delivered on a licensed model and technology solutions involving procurement of hardware.

It is well known that India has got infrastructural problems, which is being addressed these days, ap-parently in a big way! However, it will take a long time to be at par with other developed countries. Under such circumstances: How can IT reduce logis-tics losses (say time loss, fuel loss, loss due to traf-fic jam etc.) in a big way? Logistics losses are as much a result of infrastruc-tural issues as they are of the way we use the avail-able infrastructure. For example, on one hand most companies continue to pay for warehouse storage space they have booked in private warehouses—but not used, on the other hand many LSPs are unable to pass the benefit of booked but unused space in their facilities. This is a direct result of the cost plus methods adopted in pricing facilities and services. Software solutions can help not only truly enabling and managing shared resources and facilities, but also track and bill customers accordingly.

Similarly, software solutions can also help LSPs in building cross-docking, drop-ship, direct-store-delivery and mobile sales capabilities, even with ex-isting infrastructure.

What is your message to the Indian Lsps? Research has repeatedly established that Indian LSPs can benefit significantly from adopting ad-vanced methods and technologies in Supply Chain, and using them to offer better services to end users and customers. Web-based software solutions de-livered using a multi-tenant SaaS platform, are now available for LSPs on a pay-for-use pricing model. LSPs should actively consider adopting and benefit-ing from such solutions in their reach, as they come with near zero investments and no worries on ROI. n

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Healthy economic growth in India is increasingly being sup-ported by the robust

industrial growth. One of the significant sectors that supports almost all industrial activities is the Logistics Sector, which is also witnessing this commensu-rate growth.

Indian logistics sector grew phenomenally at the rate of eight

to ten per cent annually between 2002 and 2007, riding on favour-able factors such as country’s changing tax regime, growth across major industry segments like automobile, pharmaceuti-cal, FMCG and the emergence of organized retail.

The future for logistics out-sourcing or 3PL, multi-modal lo-gistics services, and Offshore De-velopment Centre (ODC) services has become very bright in the recent times. The growth in the logistics sector can be attributed to increased participation from foreign players. With globalization and entry of international players across verticals through Foreign Direct Investments (FDIs) or Foreign Institutional Investments (FII), a general shift in the busi-ness activities undertaken can be noticed, wherein the companies

outsource their logistics require-ments in order to reduce costs. It is one of the core factors for the growth of logistics sector in this country.

India holds an important posi-tion on the global logistics map, and it offers immense opportuni-ties for growth to the logistics service providers. Over the last two decades, economic global-ization, trade liberalization and competitiveness have enhanced transportation needs to such an extent—that now competent logis-tics management activities relat-ing to the procurement, transport, transshipment and storage of goods—are not only just an eco-nomic support, but also recog-nized as an economy driver. As per a research by Datamonitor, the Indian logistics market will reach a value of $125 billion in

The future of the Indian logistics industry is very bright considering some major transforming social and economic factors, which will give fillip to its growth. Timely preparation will help the service providers in shouldering the huge upcoming load.

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GearinG uPTo Drive Huge Wheels of Growth

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2010, increasing from approxi-mately $100 billion in 2007.

Need of the hourThe growth of the logistics sector is affected by various other factors like development of infrastructure. Proper emphasis on the following elements will further accelerate the growth of the sector:l Logistics hubsl Commercial warehousingl Logistics parksl Implementation of GST

Logistics hubs: Currently, there are around 12 established logistics hubs in India, which are concentrated around key indus-tries like pharmaceuticals, auto and auto-components, textiles, machinery and electronic goods. These hubs are: l North: Haryana, Himachal Pradesh, Delhi and Punjabl West: Maharashtra, Gujarat and Rajasthanl South: Andhra Pradesh, Tamil Nadu and Karnataka l East: Orissa and West Bengal

Maharashtra, Gujarat and Rajasthan in Western India have huge potential for growth—as ap-proximately 30,000 acres of land has been notified for the develop-ment of non- IT/ ITes SEZs. Going South, Andhra Pradesh, Tamil Nadu and Karnataka are flourish-ing due to the presence of huge automobile and auto ancillary manufacturing market. Moreover, these states have a bright future in terms of logistics business—as several multi-product, automobile and textile SEZs are expected in this region. The sector is also expected to benefit from the booming pharmaceutical, auto component and agri-input indus-try, and presence of seven ports facilitating international trade. The states of Haryana, Himachal Pradesh, Delhi and Punjab in Northern India are thriving on the organized retail market and food

processing industry. It is believed that maximum supply of retail malls in the country will come up in North India, and it will give a fillip to the logistics sector.

Apart from the established and emerging hubs, the logistics play-ers in India are also eyeing the ‘promising’ hubs like Jamshedpur, Alwar, Ahmedabad, Bangalore and Ambala. These cities have the potential to be developed into logistics hubs, considering the fact that manufacturing activities are increasing there.

Commercial warehousing: Another very strong potential for growth lies in commercial warehousing. With double-digit manufacturing growth and the sharp advent of modernized retailing, warehousing will play an ever important role in the sup-ply chain industry. Commercial warehousing, particularly free trade warehousing in the spe-cial economic zones across the country, is expected to witness tremendous growth, reaching in excess of 150 million square feet by the end of 2010.

Warehouses are evolving from a conventional storehouse to a completely scientific inventory management set-up focusing on value added services. As the concept of ‘third party logistics’ is fast catching up in the country, warehouses are also growing apace by providing additional services such as packaging, label-ing, bar coding, consolidation and break up of cargo and reverse logistics etc.

The government’s investment-linked tax incentives for setting up cold storages and agriculture warehousing facilities too will provide an impetus to the logis-tics sector. With strong growth

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in organized retailing and food processing sector, there is a dire need to upgrade infrastructure to ensure optimal distribution and storage of perishables.

Logistics parks: The concept of Logistics Park is emerging, but it is at a nascent stage. Logistics parks provide the right framework to bring about economies of scale, standardization and efficiency. This takes the standard of logis-tics services to higher level and helps unleash the true potential of logistics. For logistics parks to gain traction, there is a need for the government to push for more freight corridors and integrated multi-modal transpor-

tation network. As land acquisi-tion proves to be the biggest challenge, the government should identify the logistics points, and provide land on public-private-partnership basis—to build logistics parks. Just as land is earmarked for industrial, com-mercial and residential purposes, land needs to be allocated for logistics activities too.

Implementation of GST: As the country is getting ready for the proposed Goods and Services Tax (GST) to be implemented, the conventional concept of establish-ing warehouses near manufactur-ing and raw material facilities is undergoing a transformation. As GST will standardize rates across the nation, there is a lot of consol-idation expected in the warehous-ing segment—as companies will be able to manage bigger ware-houses at few strategic locations. Introduction of GST will also lead to greater adoption of a hub-and-spoke model in infrastructure seg-ments such as warehousing, cold chain, container freight stations etc. GST will also reduce logistics costs and enable industry players to reduce prices.

Safe present and promising futureIndia possesses substantial op-

portunities for growth in the logis-tics industry in the coming years. All this is possible when due recognition will be given to the logistics sector by providing it ‘in-dustry’ status, and acknowledging it as a ‘strategic enabler’. Also, to further speed up the growth of the sector, other impediments should be worked upon; like stringent documentation, checkpost delays, poor infrastructure and lack of skilled labour.

Indian logistics sector attract-ed investments worth Rs. 23,200 crore in first half of 2008, ac-cording to a study by Assocham. That time, it outperformed major sectors such as aviation (Rs. 20, 890 cr), metals and mining (Rs. 8500 cr) and consumer durables (Rs. 6000 cr) among others. Ac-cording to CRISIL, the logistics sector in the country is expected to gain Rs.5,96,114 crore in an-nual revenues by 2013-14. This strong growth in the sector will be backed by favourable regulatory environment and greater thrust on logistics infrastructure spending. Introduction of GST and develop-ment of logistics parks will give a boost to the sector, which is expected to post an 11 per cent compound annual growth rate (CAGR) for the next five years.

Looking at the futureFuture outlook of the logistics in-dustry is bright – as it depends on the economy which is expected to continue to grow. With increasing trend in the freight traffic in last couple of years, logistics industry will keep pace with growth of the external as well as domestic trade. Major factors, which will shape the growth of the logistics sector, will be public- private par-ticipation, technology deployment, investments in infrastructure and integration of logistic services. n

Vineet Agarwal is the Executive Director of

Transport Corporation of India.

Major factors, which will shape the growth

of the logistics sector, will be public- private participation,

technology deployment, investments

in infrastructure and integration of logistic

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In a scenario, when enterprises constantly need to predict, innovate and align their operations in tune with the prevailing market conditions, in an exclusive interview with Industry 2.0, Maha Muzumdar, Vice President, Supply Chain Marketing, Oracle, explains how information technology (IT) can help the Indian manufacturing and distribution industry reach the next levels of growth.

Maha Muzumdar Vice President Supply Chain Marketing Oracle

Integrating the Business Processes Is Absolutely Critical for SCM

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cover storyHow is IT helping supply chain managers worldwide? The biggest value proposition on a company, as a whole, is the impact it has on the profit and loss—as that has direct implica-tions on the company’s perfor-mance. Specifically, when we talk about managers, supply chain management (SCM) technology can allow them to oversee the cycle time, making sure they have the right information at the right time to make the right decisions—because it is a very information-centric environment.

When we talk of supply chain, we talk about the physical flow of goods. Secondly, there is flow of cash. So, when you move a prod-uct and a customer buys it, they pay you cash, this cash has to

go up the supply chain. The third thing is the flow of information, which is enabled by technology.

Through advanced capabilities of planning, execution and sourc-ing, one can automate business processes, which leads to lower cycle times and more efficiency. From the point of view of opera-tions, decision making, accelerat-ing cycle times and driving key performance for the company, there is no doubt that technology plays a very vital role.

In fact, if you look at a supply chain, which does not have ad-equate technology infrastructure, you are not going to have that instantaneous sharing of informa-

tion. All the market leaders today use technology to reach higher levels of growth.

Do you feel that distributed manufacturing will be the trend in the near future in India?When we talk about distributed manufacturing, my interpreta-tion—it is ‘virtual manufactur-ing’. There is not even a single company that manufactures a complete product without the help of suppliers or (other) manufac-turers. When we talk about India, we have got a vast pool of highly skilled resources. People in the western countries are viewing India as a big opportunity, and they wish to set up manufacturing plants here.

The challenge is the logistics infrastructure in the country, which needs to be fixed. Because when companies are considering India for outsourcing and manu-facturing, they are also thinking about moving goods. But, here the infrastructure has stayed behind. China is now the manufacturing shop floor of the world—because of its brilliant infrastructure.

What sort of integrated approach is being found in SCM nowadays? The whole notion of SCM is all about breaking barriers and silos. Historically, companies were organized by functions. Supply chain management is all about horizontal business func-tions, therefore, integrating the business processes is absolutely critical for SCM.

We, at Oracle have built our solutions with a very process-centric view, around intelligence and dashboards. Firstly, we plan to combine the process-centric approach with an information-centric one. The second aspect is about integrating solutions, such as—sales and operations plan-ning with CFO Suite, thus making sure that the supply chain is

aligned with corporate goals. Our sales and operations planning solution integrates profit and loss with supply and demand.

When you link your supply chain processes and integrate that with your financial planning systems, you are actually able to link your corporate goals and strategies, your performance metrics, performance targets and budgets with your supply chain goals, as a result, when you run your supply chain, you are com-pletely aligned with the CEO and the CFO of the company.

What sort of new approach is necessary as far as Indian manufacturing organizations are concerned?When we talk about new ap-proaches for Indian manufac-turing, I feel many companies are still operating out of legacy systems, spreadsheets, fax and phones and other manual pro-cesses. Substantial companies still operate on systems that western companies operated on 15 years ago.

This is the time for them to look at the latest technologies, and leverage their activities to streamline business processes and supply chains, ensure auto-mation, have instant visibility for decision making. Thus, the most urgent thing is to enable instant sharing of information across the enterprise. These are some of the approaches that Indian companies need to look at—mov-ing away from fragmented manual processes to the state-of-the-art —like the western world.

How can application of IT in manufacturing and SCM take the Indian business runners in to the next level of excellence?When we talk about SCM excel-lence, there is a whole process view around, what we think our pillars of excellence, that compa-

Substantial companies still operate on systems that western companies operated on 15 years ago

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nies need to have in order to not only be market leaders but also to sustain their market leadership. Five key things that I would like to talk about are—the ability to predict, adapt, innovate, align and sustain.

Predict means ability to sense and shape demand—(say) how can you influence a custom-er’s buying behaviour, so that you are able to shape that de-mand and sell more of your goods in the market?

Adapt refers to building flex-ible and adaptive supply chain, integrated best-in-class logistics network, transportation manage-ment, warehouse management, global trade management - all these processes—to provide a very seamless best-in-class cus-tomer experience. And as chang-es happen in the market place, you must have infrastructure to rapidly respond and quickly adjust your supply chains to ensure you are not losing your business.

Innovation comes in multiple dimensions. We talk about prod-uct innovation, service innova-tion, process innovation etc. But when we talk of supply chains, people talk only of supply and demand. There are three legs to a supply chain—product, supply and demand. The whole notion of integrating product life cycle management into your supply chain is ensuring that—as you build in new products, they are optimized for cost and time. This is how you accelerate innovation, and ensure that they are designed for supply. The key benefit is—it shrinks your time-to-market, and thereby captures market share, more profitably.

Aligning your supply chain with your corporate plans is to deliver on the profitability matrix, which your company has set for themselves.

Sustainability includes a num-ber of areas or activities, such as

energy consumption, green house gas reduction etc. Now, energy consumption means—how do you quickly understand what energy are you consuming and how can you minimize wastage? There are specific solutions that we offer, so that companies can effectively monitor their respective energy consumptions. The other thing is green house gas reduction. A large percentage of carbon footprints comes from transporta-tion. How can you optimize your transportation network and make sure that only the fully loaded trucks are moving? Our solution shows the way.

What is your comment on cost ef-fectiveness of deploying IT in the Indian manufacturing scenario?When we talk about cost ef-fectiveness, companies need to look at the value or the return on investment (ROI) they will get. They need to have focus on ROI, the value and payback. It is not a cost-centric view, but a value centric view that companies need to have. But then the reality of the scenario is that all companies can afford to invest in infrastructure. There are flexible models that they can use.

The traditional approach is—companies take technolo-gies and implement them in their facilities. They become the owner. The other option on demand is ‘you pay as you go’. Software-as-a-service (SAAS) can also be an attractive option for companies that don’t want to invest heavily upfront, and basically use the system on demand.

How can IT help in ensuring green manufacturing?We have a solution specifically made for green manufacturing. The product actually monitors in real time the energy consumption that happens in an organization, a facility and plant or shopfloor.

We are bringing in the product with sensor-based capabilities to understand real time consump-tion of energy. So, it allows you to correlate energy consumption to production and value added activities. The moment you have visibility to non-value activities, you are able to manage better and eliminate waste.

What is your message to the Indian manufacturers and supply chain management operators?Supply chain derives signifi-cant value, it has direct impact on customer satisfaction and

profitability. Companies in India should move away from manual processes, and take them to the next level. To be competitive in this market place, they must adopt technology in their supply level to become global. They need to take a more holistic integrated view that does not just consider technology, but looks at people, process and performance mea-sures in an integrated fashion to drive some key benefits.

Lastly, I would like to say that India is a very important market for Oracle. The country is still on a positive growth path. We would like to focus on this region. n

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Supply Chain Performance Management (SCPM) has been a critical area for consumer packaged

goods (CPG) companies in their efforts to develop an agile, lean and efficient customer-oriented supply chain. A robust SCPM infrastructure is crucial to realize the benefits of various collab-orative initiatives. However, CPG companies need to resolve some crucial questions before making

significant investments in SCPM initiatives. These include:l Is there an enterprise-wide awareness and understanding of strategic and financial objectives?l Is there an understanding of the financial impact of supply chain performance on overall corporate performance?l Are all processes and roles in the supply chain mapped to key metrics to determine performance?

l Is there a mechanism to periodically review actual supply chain performance and redefine performance measures in the changing business context?l Is there an integrated single view of supply chain performance across functions and hierarchies?l Is senior management able to quickly determine the causes for supply chain failures?

We shall now focus on defining and building a ‘metrics frame-work’ to effectively leverage and drive supply chain performance management.

Developing the supply chain metrics frameworkA balanced set of metrics, aligned to various supply chain functional areas—demand planning, cus-tomer management, warehouse management, need to be identi-

A well designed and integrated metrics framework increases the capability of business intelligence systems to provide accurate insights for effective supply chain decision making. A metrics framework-based approach to supply chain performance management is fundamental to leverage investments in business intelligence and analytics.

by tejas faldu, srikanth krishna

To Drive Supply Chain Performance

Building and Leveraging Metrics Framework

Metrics belonging to different classesStrategic Objective Typical Metric Class What it signifies

Customer Satisfaction Perfect Order StrategicReliability of the supply chain to meet customer orders in quantity, in-time, quality and with complete accuracy on documentation.

Customer Satisfaction

Manufacturing Schedule Adherence TacticalAbility of manufacturing to supply as per planned manufacturing schedule and meet desired inventory levels for a make-to-stock item or meet desired customer delivery schedules for make to order items.

Customer Satisfaction Machine Downtime OperationalLoss of manufacturing capacity due to various reasons like machine break-down, planned preventive maintenance, stock-out of input materials, etc.

Customer Satisfaction Supplier Delivery Schedule Adherence Operational Ability of vendor to supply as per planned supply schedule.

Operational Excellence Cash-to-cash Cycle Time StrategicTime taken between cash spent to purchase raw material to the time taken to realize cash-on-sales to customers, e.g. days of inventory, accounts receivable in days, accounts payable in days.

Operational Excellence Total Supply Chain Cost StrategicTotal costs incurred in the supply chain including warehousing, logistics, pur-chasing, planning, manpower costs, etc

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fied to address decision-making requirements. These metrics should be mapped to the process-es of each supply chain function, the overall business strategy and the roles responsible for execut-ing these processes.

Establishing the right metricsThe key characteristics of metrics include:Reliability—This refers to the consistency of the metric used to measure a given process. As long as the circumstances govern-ing the process do not change, the metric should return a fairly consistent value.

A large diversified manufac-turer uses Cost of Goods Sold (COGS) as the basis for calculat-ing inventory turns. Since the manufacturer had a substantial import content of raw materials, exchange rate fluctuations led to sharp variations in COGS, even when overall sales were constant. Such variations in COGS led to similar variations in inventory turns though sales and inventory value, the two key determinants of inventory turns, were constant.

Under these circumstances, COGS is an unreliable metrics for computing inventory turns.

Validity—A valid metric is one that measures the concept in a specific business context.

Many CPG manufacturers to-day focus on making their demand planning and fulfillment processes agile and responsive, through greater collaboration with sales, supply chain and manufacturing. One metric for measuring the effectiveness of this collaboration process could be the number of ‘expedited work orders. While this metric may suggest inefficient planning in the first place, from a collaboration point of view it can be indicative of a more healthy process of revising supply plans to reflect actual demand changes in the markets.

Accessibility—Good metrics must be easily accessible, i.e., retrieved with reasonable effort and cost.

Relevant—Metrics need to be meaningful so that concerned functions/ people can relate to the information and take intelligent and proactive decisions.

Additional considerations about metrics include:l Metrics are most useful when embedded in a metrics model that represents a business processl The criticality of a metric is determined by the process perfor-mance insight that it provides.l Metrics need to be assigned to roles that have process execu-tion, monitoring and tracking responsibilities

Linking metrics to overall strategic objectivesThis involves multiple steps:l Determine the strategic objec-tives to evaluate your supply chain (e.g., customer satisfaction, enterprise profitability, etc.).l Under each of these strategic objectives, build related supply chain metrics hierarchy starting with high-level metrics—sugges-tive of the overall health of the supply chain, to mid-level and lower-level metrics—more tacti-cal or operational in nature.

Creating the detailed metrics bankThis is a multi-step process to create an exhaustive set of re-lated metrics that involves:l Associating metrics with each supply chain processl Mapping the metric to the role that is directly accountable and responsible for its measurement and performancel Identifying the class of the metric based on the information and process health insight it conveysl Building high-level interde-pendencies of metrics based on common knowledge and under-standing of basic processesl Identifying the various dimen-sions to enable a comprehensive view of the metric

Metrics bank for Inventory Management ProcessMetrics

Performance Attribute

Class Measurement Hierarchy

Formula Unit of Measure

Freq. Role Metrics Influenced

Metrics Influenced By

Inventory Turnover Ratio

Asset Utilization

Strategic Product

(Monthly COGS/Average Total Inventory Value)* 12

No Monthly Supply Planner, Supply Chain Head

Cash-to-Cash Cycle Time

Forecast Accuracy, Manufacturing Schedule Adherence, Sales Returns

Inventory Carrying Cost

Cost Tactical Product Inventory Value* Cost of Capital

Value Monthly Financial Analyst, Supply Chain Head

Total Supply Chain Costs

Inventory Value, Cost of Capital

Finished Goods Inventory

Asset Utilization

Operational Product, Geography

FG Inventory Value and % of Total Inventory Value

Value % Daily Supply Planner, Sales Manager

Days of Inventory

Forecast Accuracy, Manufacturing Schedule Adherence

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l Determining how metrics will need to be computedl Determining the frequency at which the metrics will be measured—this will also be governed by the granularity of available data and the cost-benefits associated with a certain measurement frequency

Leveraging the supply chain metrics frameworkNow, we shall demonstrate how metrics frameworks can

be leveraged to enhance supply chain performance.

Generating insights using cause-and-effect guided analysisA metrics framework is a collec-tion of relevant metrics. These metrics are inter-related to estab-lish a cause-and-effect relation-ship, which helps in determining the root causes of failure of vari-ous business processes.

To illustrate this, let us focus on ‘product availability at shelf’ as an effect and start building a met-rics framework. The end objective is to ensure product availability at the shelf.

The framework clearly highlights the need to collect important metrics like forecast accuracy, order fulfillment times, manufacturing schedule adher-ence etc. In the absence of a good framework, having data regarding ‘product availability at shelf’ and not of the related metrics, would severely limit constructive use of the end-result data.

A word of caution—‘every met-rics framework is unique.’

Each enterprise is expected to have a metrics framework, which is unique in terms of number, the types of causes as well as the hierarchy, and criticality of causes to the end-effect. Key points to be considered while defining the metrics framework include:l No metrics framework is likely to identify all relevant variables. However, enterprises must make a conscious effort to build a metrics model—that is compre-hensive enough for their business context. This can be best achieved by deploying a cross-functional team with a strong understanding of underlying processes and re-sponsibility for process execution.l Top management sponsorship is also critical to ensure that the metrics framework identified by the cross-functional team is aligned with the overall enter-prise objectives.l Some element of judgement and approximation in developing the metrics framework is unavoid-able. Given this, there should be a focused effort to identify the most relevant and high impact causes.

Store Inventory Availability

Forecast Accuracy

Ordering Efficiency

Promotion Plan

Visibility

POS & Shelf Inventory

Availability

Documentation Accuracy

Collaboration Process Adoption

Order Quantity vs.

Demand

Staff Productivity

Ordering Frequency

Order Fulfillment Time

Customer Transit Time

Variance

Warehouse Productivity

Quality Adherence

Manufacturing Schedule

Adherence

Backroom Clearance Time

Product Availability at Shelf

CPG Manufacturer OTIF Delivery Performance

A guided analysis path for ‘Product Availability at Shelf’

No metrics framework is likely

to identify all relevant variables. However,

enterprises must make a conscious effort to

build a metrics model—that is comprehensive

enough for their business context

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l Like metrics, metric frame-works tend to be highly contex-tual in nature. They are dependent on the team developing them—knowledge, goals for measure-ment, and vision on how the SCPM system should integrate with the overall enterprise perfor-mance management objectives. Besides people, data availability, accuracy etc. are other factors that must be considered. These also act as constraints in design-ing the metrics framework.l Metric framework cannot be static, and has to be continuously refined to align with enterprise objectives. As the enterprise IT landscape changes, metrics ignored earlier for lack of data availability may need to be ac-commodated to make the frame-work more robust and relevant.

Quantifying financial impact of supply chain metricsThis process is used to link supply chain metrics to financial Key Performance Indicators (KPIs). Example, cash-to-cash cycle time metrics framework linked to re-turn on assets, total supply chain cost metrics framework linked to net margin through COGS etc. We need to establish the link with financial measures as it helps quantify the performance of supply chain metrics and better

understand its full impact on the enterprise’s top line and bottom-line.

Enterprises use these score-cards to determine priorities for investments for improving pro-cesses and related technology.

Such scorecards help establish a standardized ‘single version of truth’ on supply chain perfor-mance, which is quantifiable and understood by all entities in the organization.

Review the supply chain score-card in the Sales and Opera-tions Planning (S&OP) processWhile metrics reflect the overall health of the supply chain and various functions, they need to be supported with process mecha-nisms. These mechanisms enable a joint review and formalization of corrective plans from a cross-functional perspective. Some best practices for implementing effec-tive sales and operations planning (S&OP) processes include:l Establishing pre-scheduled meeting, with well-defined agenda, with critical players in the supply chain, along with their cross-functional teamsl Articulating and quantifying the performance of the supply chain. This in turn leads to per-formance measures for individual players of the network

l Adequate review of metrics and root causes at functional levels to make cross-functional S&OP meetings effectivel Benchmarking supply chain performance with the best in and across industries

Another key requirement to en-able an effective S&OP is to have the IT capability to aggregate and structure enormous supply chain information and data—originating from disparate IT systems. This facilitates overall view of the sup-ply chain.

ConclusionSupply Chain Performance Man-agement is a process-centered approach towards business decision-making. It helps manage supply chain performance, using a metrics framework for stake-holders, managers and employ-ees, within an integrated manage-ment environment. SCPM should be a business-critical process; driven by metrics and supported by business intelligence.

With increasing competition and changing market forces, tap-ping into this critical asset is es-sential in sustaining competitive advantage in the CPG space. n

Tejas Faldu is a Senior Consultant with Infosys’ Retail and CPG practice. Srikanth Krishna is a Senior Project Manager with Infosys’ Retail and CPG practice.

A Simple Supply Chain ScorecardTypical Metric Performance

AttributeStrategic Objective Benchmark Target Actual Benefits from Improvement

Baseline Entitlement

Perfect Order Reliability Customer Satisfaction 75% 90% 80% 60% $50M savings in lost sales

Order Fulfillment Time Responsiveness Customer Satisfaction 3 days 2 days 2 days 3 days $10M additional revenue from surge

orders

Forecast Accuracy Process Improvement

Operational Excellence 85% 95% 90% 75% Key enabler to customer satisfaction

and operational excellence

Cash-to-cash cycle time Asset Utilization Operational Excellence 90 days 75 days 85 days 105

days$70M reduction in working capital; $10M savings in interest cost

Total Supply Chain Cost as a % of COGS Cost Operational

Excellence 15% 10% 10% 18% $45M reduction in direct cost; $20M reduction in indirect cost

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Goods and Services Tax (GST) is a destination-based tax on consumption of goods and services—with an input

credit mechanism across the value chain; i.e., taxation is only on a value added basis. GST is likely to subsume most indirect taxes (currently levied on both goods and services) under a single umbrella. Major taxes likely to be subsumed are CENVAT, VAT and service tax. GST would also mean removal of the existing CST, which is payable on inter-state sales; a tax that is not allowed to be set off against further taxes in the value chain.

GST is likely to be introduced by April 2010, and likely to have a dual structure to be administered both at the Centre and State level.

Impact of introduction of GSTGST would have significant impact on the supply chain network of compa-nies. This is because the tax structure would fundamentally move away from taxes that cannot be set off (and hybrid situation) to a tax structure based on value add, on an all India basis.

This would mean that there wouldn’t be any taxation so long as there is no value add between transits. Hence, a product that moves from Pune plant to Vashi warehouse to a depot in Andheri would be charged the same total quantum of GST irrespec-tive of the length and location of the transfers (assuming there is no value-add in the transfers). Hence, if the same product flows from Pune plant to Jaipur warehouse to Andheri depot, the GST would be the same, though the supply chain cost would obviously be higher. The implication of this:l It is now possible for us to create a supply chain network that focuses only on the supply chain costs rather than on taxation; The supply chain network would be tax neutral as far as GST goes. However, on a case basis, there would be other taxes such as Entry tax/Octroi that would still be levied.l The efficiency of supply chain would fundamentally only depend on

Supply Chain

using Mathematical Models

Designing an Optimal

Goods and Services Tax

(GST) is a destination-based tax on

consumption of goods and services—

with an input credit mechanism across

the value chain

Facilities Installation Planner (FIP), a software based on Mixed Integer Programming (MIP) offers a solution to evaluate and redesign the supply chain. FIP, specifically customized for GST, has added features like path algorithms, and comprehensive databank of distance information that allow companies to rapidly redesign their supply chain.

by r krishnamurthy

Networkcover story

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the minimization of cost, such as primary and secondary freight, CFA charges, warehouse fixed and variable cost, depot fixed and variable cost etc. The following considerations (not limited to these choices) will serve as the key factors for designing a new supply chain:l Choice of warehouse locations, depot locations with respect to the p lants an d th e m arkets l Design of the supply chain such as meshed design vs. hub an d sp oke v s. c ombinations thereofl Choice of the warehouse ca-pacity and depot capacityl Choice of mode of transport such as road (9 tonner vs. 15 ton-ner vs. 20 tonner) and rail (Half rake, full rake, two point rake) for the different linkagesl Inventory and transportation strategies—such as replenish-ment cycle, safety stock, milk runs etc.

GST opportunity for supply chain redesignMost of the companies in India have grown their supply chain over the years on an incremental basis. The Logistics and Supply Chain industry has seen signifi-cant changes such as: l Introduction of technology in information technology / informa-tion systems, material handling, transportation etc.l Expansion into new geographic markets, e.g., low volume rural thrustl Proliferation of products and brands, increase in number of stock keeping units (SKUs)l Availability of specialized ser-vice providers for transportation, 3PL/4PL, warehousing etc.

These changes have an overarching impact on the Supply Chain Network Design and Operations.

Some of these changes have been rapidly adopted

by newer companies as well as multi-national companies (MNCs), however, most com-panies still need to relook at their su pply chain network or operations.

GST is yet another develop-ment that could have a significant impact on on the supply chain network design, because it removes one of the key erstwhile design considerations, namely indirect taxation. This gives com-panies a fresh incentive to relook at the supply chain network.

Network redesign using mathematical modelingAny supply chain consists of the following key entities namely:l Suppliers (raw materials / sub assemblies / parts)l Manufacturing plantsl Warehousesl Depotsl End customers

Based on the demand of different products in different markets, a company tries to optimize supply chain cost by ensuring that:l The location of the different entities are appropriately based on demand / supply, on a long term basis, as also the service levelsl Capacity of the different enti-ties are appropriately based on demand/supply and supply chain strategyl Number of the different entitiesl Structure of the supply chain network in line with the supply chain strategy

Modeling the entire supply chain network and simulating the supply / demand / capacity of the system (or based on past actual performance), is an effective, inexpensive and comprehensive method to evaluate the perfor-mance of the network under different input conditions. MIP is the mathematical tool used for Network Design and Optimisation.

FIP product using MIPThis allows us to model the supply chain, and simulate its operations in an efficient and cost effective manner. The inputs to the MIP include: l Details, such as location of entities like suppliers / plants / warehouses / marketsl Details of linkages between these entitiesl Variable / fixed cost of opera-tions at the relevant entitiesl Mode options for all the links and the cost of the mode optionl Demand / supply / capacity of the relevant entities

The output of the MIP is:l The behaviour of the sup-ply chain network for different

combination of demand / supply / capacityl The choice of structure / loca-tion / capacity / number of each type of entityl Cost / contribution of the system for a particular demand / supply / capacity / cost configuration

Other possibilities with MIP:l Since MIP is a simulated model of the real supply chain, it is possible for us to create vari-ous scenarios of demand / supply / capacity and study the response. l Also, we can study the possibil-ity of redesign by using ideas such as ‘hub and spoke’ etc., to study which design works best without compromising the service levels.

GST approachThe overall objective of the

Mixed integerprogramming (Mip) is a technique that allows modeling of the supply chain and simulating the operations of the same.

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GST assignment is to critically evaluate the structure, design and capacities of the supply chain, so that it can be optimized in such a way that the cost of supply chain is minimized while ensuring that the service levels are met.

IGSA uses a customized ver-sion of the Facilities Installation Planner (FIP) to model the client’s network. The customisation takes into account additional require-ments such as finding additional linkages between two entities, data on distances / costs of these linkages etc. The approach is customized for each customer using the following steps.

Input stageUnderstanding the network:We study the ‘as is’ supply chain network in terms of the location / capacity of the different enti-ties, the flow of products through the different entities and the modes used for the product flow. In addition, we also understand the heuristics (rules) used in the supply chain such as—treatment of part shipment, type of trucks, service levels required, hub-spoke rules etc.

Data population:We then populate the different types of data into the GST FIP, including:l Master data (Location of suppliers / plants / warehouses / markets / mode)l Transaction data (Market demand / supplier supply / plant availability / warehouse capacity / freight cost between links / tax)l Constraints data (Factors that make the model customized to

the client’s real life situation, for example, capacity of the mode / unavailability of certain modes in certain links etc.)

Data quality and compre-hensiveness is vital for the model’s accuracy; we use our own database and algorithms to plug information gaps—where the client does not have the data. This greatly increases the speed of execution.

Output stageBase run—ideal case:We would run the ‘Base Run’, which would replicate the demand / supply / capacity for a historical period (last one month, last year) as is appropriate for the client / industry. This would study the performance of the model against the actual, and ensure that all entities are adequately connected. It also gives the ideal flows (not taking into account exigencies / day to day sub optimal decision making) within the network for least cost. Scenarios and strategies:Then we add the required constraints as per the client’s requirements to make the model more representative of the reality. This would make the network sub-optimal but closer to reality.

The next step involves interac-tion with the client and trying out the following:l Scenarios—These test the behaviour of the supply chain net-work for different cases of demand / supply / capacities / constraintsl Strategies—These refer to spe-cific changes in the design in the network such as hub and spoke / fully meshed / hybrid for the same demand / supply / capacity/ constraint and behaviour of the supply chain network.

Advantages of such a solutionThe structured approach and

data bank provides the following advantages:l Speed—We have designed different types of supply chains from cement companies to FMCGs to consumer durables to commodities, and hence we can very quickly adapt to a new template or use the existing templates. Our FIP product is customized for network design, and has been tried and tested in other client situations.l Database for data comple-tion—Network design requires a significant amount of data; while most corporates have de-mand / supply data, they may or may not have the freight data for each linkage between plant-warehouse and warehouse-market etc. We have built a da-tabase of linkages for more than 1200 districts, which lists the distance link-wise and that can be used as surrogate.l Long term view—The model has the capability to run on a multi-period (two to five-year-time-cycle) basis. This is the key given that the supply chain network design has long term ramifications.l Scenarios—We have created a number of scenarios that take into account changes in the input data in terms of demand / supply / capacity / constraints – to study the impact of the above on the outputs cost / contribution / prod-uct flows.l Strategies—We have created specific algorithms for finding out the K shortest path between entities; this is useful in case of evaluating supply chain strategies such as hub and spoke / meshed network and combinations.l IGSA has also developed other heuristics to look at candi-date locations for the hubs and the spokes. n

R Krishnamurthy is a Partner of IGSA.

ip advantagesl Speed of executionl Database of more than 1200 districtsl Multi period specific algorithmsl Scenario / ‘what if’ analysisl Modeling supply chain strategies

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supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers46

Our annual study of supply chain management (SCM) metrics for India’s top manufacturing companies

examines how effectively companies are managing the procurement and distribution of goods. Since, SCM is usually a complex process involving a number of variables, our study is based on published financial data that provides an overall view of the efficiency of supply chain operations within an organization. SCM metrics

that involve customer-linked mea-sures like “order fulfilment time”, “percentage on-time delivery”, etc. , are not covered in this analysis.

The Selection ProcessWe used the Centre for Monitoring of Indian Economy (CMIE)–Prowess da-tabase to source data for this study. This regularly updated database is a comprehensive, authentic source of financial information on the Indian industry. Readers should note that

there has been no attempt to refer to annual reports of companies or any other database except CMIE-Prowess for this analysis. Only manufacturing companies—spanning a wide variety of sectors—were selected from the CMIE-Prowess database for analysis.

For a company to be a part of this year’s ranking, it was necessary that complete data for financial years 2007 and 2008 be available in the CMIE-Prowess database. Additional filtering was performed to eliminate

companies for which the database had missing or error values (for selected parameters).

The analysis was done on two sample sets. One for large compa-nies, and another for SMB manu-facturers. The principal reason for distinguishing between SMBs and large manufacturing companies was to eliminate the size bias that would influence the ranking of SMBs. Companies were clas-sified on the basis of net sales figures—1,537 companies were classified as SMEs (sales between

Indian manufacturing has come a long way since the liberalization of the economy. Companies have relentlessly focused on adopting and assimilating new technologies, using modern manufacturing practices, and focusing on quality to achieve operational excellence. However, the economic downturn during the past months has dramatically shifted the focus to issues like productivity, efficiency and cost reduction. But, is India Inc. taking a hard look at its supply chain?

By Sukriti Katiyal

Measuring the

of Manufacturing Supply chainS

effectiveness

Calculating The Composite Score

Category Parameter Ranking LogicRank

Weight

Inventory

Finished Goods Holding Period Lower value is better 50%

Work in progress holding period Lower value is better 50%

Raw Material Holding Period Lower value is better 50%

Cash-to-cash Cycle Time

Creditors Days Available Lower value is better 30%

Debtors Days Available Higher value is better 30%

Financial Health Indicators

Cost of Goods Sold (as % of sales) Lower value is better 20%

Fixed Assets Turnover Ratio (FATR) Higher value is better 20%

PBIDTA (as % of sales) Higher value is better 20%

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methodology

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 47

Rs 10 to Rs 300 crores), and 630 as large companies (sales greater than Rs 300 crores). In each set, the identified companies were seg-regated by industry sector (24 in-dustry sectors for SMEs and 21 for large companies). Sectors with less than 10 representative companies were eliminated. Finally, we ranked 2100+ companies.

Parameters and Ranking ProcessComparing firms across sectors would have led to misleading re-sults, because within each sector the need for the working capital funds is contingent on the nature of operations. Industries with lengthy production cycles will require larger working capital compared to sec-tors with shorter production cycles. Consequently, for our analysis and

ranking, we grouped the companies into different sectors to ensure appro-priate peer comparison.

Three categories of data, comprising eight parameters, were select-ed to represent the char-acteristics of the internal supply chain of manufac-turing companies. These are: Inventory (param-eters include raw mate-rial holding period, work in progress holding pe-riod, and finished goods holding period); Cash-to-cash cycle time (creditor days available, debtor days available); Financial health indicators (cost of goods as a percent-

age of sales, fixed asset turnover ra-tio, PBITDA as percent-age of sales).

While the i nve n to r y -related pa-rameters are the most important for evaluating the supply chain efficiency of any manufacturing organiza-tion, other parameters like creditors and debt-ors days available shed light on the ability of organizations to manage liquidity positions. In the current economic slow-down, where the cash has become king again, managing both debtors and creditors is vital for operational efficiency. We also have included certain financial param-eters that indicate the overall health of manu-facturing companies.

The composite score for every company was

generated through the following process:

First, the selected companies were segregated into large and SME categories. In both categories, every company was assigned to an industry sector (based on the primary nature of industrial activity carried out by the organization). Companies in ev-ery sector were ranked relative to other companies within the sector on each of the eight parameters. The ranks obtained by each company on each of the eight parameters were individually weighed to generate individual composite scores. (The weights assigned to the parameters are shown in the table Calculating The Composite Score). Finally, the composite scores were arranged in ascending order (within each category), to produce the final com-pany rankings. n

Supply Chain Metrics: Large Manufacturing Companies

Industry Sector Large

1 Auto Ancillaries 48

2 Automobiles and Construction Equipment 26

3 Cement 24

4 Chemicals 63

5 Cosmetics & Cleaning 13

6 Diversified Manufacturing 20

7 Drugs and Pharma 51

8 Electrical Machinery 20

9 Electronics 25

10 Ferrous Metals 79

11 Food & Beverage 64

12 Generators and Power Equipment 14

13 Glass & Ceramics 15

14 Non-Electrical Machinery 28

15 Non-Ferrous Metals 11

16 Paper & Wood Products 12

17 Petroleum Products 12

18 Plastics & Polymers 18

19 Textiles 65

20 Tyres Tubes & Rubber Products 10

21 Wires & Cables 12

Total 630

Supply Chain Metrics: Small & Medium Manufacturing Companies

Industry Sector Small

1 Auto Ancillaries 123

2 Automobiles & Construction Equipment 25

3 Cement 15

4 Chemicals 138

5 Cosmetics & Cleaning 18

7 Drugs and Pharma 112

8 Electrical Machinery 31

9 Electronics 54

10 Ferrous Metals 125

11 Food & Beverage 149

12 Generators & Power Equipment 33

13 Glass & Ceramics 36

14 Leather & Leather Products 14

15 Machine Tools 20

16 Non-Electrical Machinery 62

17 Non-Ferrous Metals 32

18 Non-Metallic Mineral Products 21

19 Paper & Wood Products 91

21 Plastics & Polymers 96

22 Textiles 288

23 Tyres Tubes & Rubber Products 29

24 Wires & Cables 25

Total 1537

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1 Jay Bharat Maruti Ltd. Other Automobile ancillaries, nec 519.76 657.39 0.87 0.87 3.24 4.11 42.77 49.09 8% 7% 18.73 18.25 44.97 33.67 10.29 8.49 2.92 2.69 0.63 0.57 39.7

2 Munjal Showa Ltd. Shock absorbers 701.51 719.84 0.81 0.81 3.61 3.71 53.2 47.3 8% 7% 32.76 33.79 46.65 45.47 16.04 12.89 3.11 3.14 0.71 0.87 43.2

3 Sona Koyo Steering Systems Ltd. Drive transmission & steering parts 583.63 690.16 0.80 0.80 2.55 3.01 63.79 67.83 11% 10% 31.66 33.43 55.41 51.8 18.2 15.87 2.99 2.59 0.77 0.59 44.4

4 F C C Rico Ltd. Automobile ancillaries 280.29 316.09 0.75 0.75 9.57 10.79 56.35 55 20% 17% NA 35.42 43.47 41.51 NA 25.1 NA 3.04 NA 8.66 46.7

5 Sandhar Technologies Ltd. Automobile locks 354.89 386.89 0.78 0.75 2.49 2.63 37.19 38.14 10% 10% NA 52.34 67.16 54.21 NA 23.06 NA 3.85 NA 1.66 47.5

6 Toyota Kirloskar Auto Parts Pvt. Ltd. Drive transmission & steering parts 589.03 637.04 0.67 0.67 1.65 1.78 102.52 116.65 17% 18% NA 34.65 45.58 47.93 NA 30.88 NA 2.67 NA 4.56 49.5

7 Sunbeam Auto Ltd. Auto castings 840.86 783.7 0.78 0.79 5.70 5.33 49.14 47.76 6% 6% 32.27 39.42 53.21 49.36 15.87 20.22 8.42 9.41 1.11 1.21 50.9

8 Krishna Maruti Ltd. Auto seating systems 400.45 525.11 0.86 0.88 6.77 9.03 29.14 41.65 7% 8% 20.91 23.73 80.18 66.33 4.44 5.35 0.27 0.22 7.52 3.61 51.0

9 Omax Autos Ltd. Other Automobile ancillaries, nec 695.24 725.63 0.77 0.80 2.01 2.16 76.56 76.78 11% 11% 26.07 34.26 43.62 34.2 8.75 10.23 2.69 3.18 4.68 4.98 51.7

10 Automobile Corpn. Of Goa Ltd. Other Automobile ancillaries, nec 334.92 336.13 0.72 0.72 11.22 11.33 33.71 32.54 10% 10% 41.82 50.35 63.91 62.52 11.93 15.75 16.25 16.3 1.87 1.47 52.3

11 Bosch Chassis Systems India Ltd. Suspension & braking parts 366.52 544.78 0.69 0.70 2.30 3.51 56.79 83.7 15% 15% 80.85 55.57 86.54 71.89 40.47 30.61 8.18 6.91 4.02 4.43 53.7

12 S L Lumax Ltd. Auto head lights 230.78 312.53 0.81 0.76 2.03 2.58 23.92 52.94 10% 17% 42.81 46.05 55.7 65.17 22.38 32.01 3.75 3.33 2.14 2.72 54.3

13 Minda Industries Ltd. Automobile equipment 393.1 404.3 0.80 0.80 2.56 2.62 39.81 47.81 10% 12% 41.58 42.24 55.93 57.42 18.59 22.19 3.74 5.42 1.64 1.97 54.7

14 Rico Auto Inds. Ltd. Automobile ancillaries 776.49 719.01 0.78 0.77 1.41 1.29 97.09 103.06 13% 14% 36.03 51.5 46.21 46.05 23.55 33.01 10.05 15.73 0.23 0.12 56.5

15 Sharda Motor Inds. Ltd. Automobile ancillaries, nec 304.79 368.54 0.77 0.78 2.42 2.95 42.88 48.71 14% 13% 38.61 34.65 61.75 60.41 29.85 20.7 5.96 5.55 3.01 2.77 57.5

16 Endurance Systems (India) Pvt. Ltd. Shock absorbers 374.77 394.23 0.88 0.85 3.64 3.70 19.35 18.02 5% 5% 37.94 38.84 35.28 50.63 7.37 7.45 3.96 5.07 6.3 11.55 60.1

17 Amtek India Ltd. Automobile ancillaries 476.46 771.72 0.72 0.69 0.71 1.10 140.2 224.54 29% 29% 50.96 47.13 75.93 79.74 15.7 16.84 83.84 58.38 0.21 0.14 60.2

18 Amtek Auto Ltd. Automobile ancillaries, nec 894.26 1191.32 0.65 0.63 0.80 1.03 290.5 412.32 32% 35% 46.2 44.31 74.31 80.12 21.93 17.65 59.4 54.64 0.24 0.3 60.4

19 Lucas-Tvs Ltd. Electrical automobile parts 914.81 965.53 0.77 0.78 3.86 4.11 103.71 106.06 11% 11% 38.49 46.42 45.82 51.77 24.41 30.81 6.33 7 8.97 8.17 60.4

20 Banco Products (India) Ltd. Automobile engine parts 265.71 305.03 0.69 0.63 3.04 3.16 39.7 64 15% 21% 66.68 74.18 36.63 35.94 48.54 52.28 11.52 13.33 9.97 11.57 60.9

21 Gabriel India Ltd. Shock absorbers 521.31 475.42 0.74 0.74 3.27 2.99 116.87 33.3 22% 7% 39.32 45.2 39.29 51.04 25.03 28.25 7.88 10.33 6.01 4.36 60.9

22 Spicer India Ltd. Axle shafts 577.18 638.83 0.69 0.68 4.91 5.31 65.59 71.06 11% 11% 43.48 48.12 92.82 93.74 18.05 20.67 12.2 13.66 2.63 4.72 61.9

23 Rane (Madras) Ltd. Steering gears 329.94 349.57 0.73 0.67 3.96 3.85 31.11 61.77 9% 18% 45.15 46.01 53.2 53.64 29.76 30.3 10.25 9.85 20.66 19.73 63.0

24 Automotive Axles Ltd. Axle shafts 461.76 617.32 0.74 0.75 2.77 3.71 84.73 106.51 18% 17% 34.82 33.44 48.09 57.85 42.11 38.86 13.58 14.11 1.66 1.27 65.8

25 Tata Toyo Radiator Ltd. Radiators 308.83 331.21 0.75 0.66 3.35 3.15 31.31 49.3 10% 15% 48.92 53.98 77.6 74.14 49.22 49.71 6.74 7.5 5.86 6.8 67.3

26 Hinduja Foundries Ltd. Automobile ancillaries 394.18 451.44 0.69 0.68 1.39 1.58 41.76 55.71 11% 12% 57.55 60.18 52.72 53.56 33.54 36.08 27.85 35.32 0.92 1.35 67.3

27 Motherson Sumi Systems Ltd. Wiring harness & parts 1100.54 1328.08 0.67 0.68 2.23 2.72 217.72 224.27 20% 17% 39.6 44.73 55.87 57.84 35.23 37.62 9.4 11.61 7.87 6.55 67.4

28 Ucal Fuel Systems Ltd. Carburettors 298.46 306.01 0.62 0.63 1.73 1.81 42.84 41.07 14% 13% 38.59 48.92 55.58 93.75 28.62 31.47 4.36 8 7.91 7.46 68.1

29 Denso India Ltd. Electrical automobile parts 427.69 474.43 0.79 0.79 6.30 7.00 56.88 55.75 13% 12% 26.14 25.82 44.6 53.37 32.02 37.8 4.1 3.73 8.41 11.69 69.7

30 Jamna Auto Inds. Ltd. Leaf springs (Automotive) 278.58 469.68 0.73 0.68 3.21 4.99 7.83 60.16 3% 13% 46.3 40.16 55.61 86.9 12.19 19.67 15.75 23.27 2.48 4.99 70.5

31 Sundram Fasteners Ltd. Automobile ancillaries 1193.83 1216.35 0.55 0.56 1.62 1.69 168.38 168.86 14% 14% 69.22 68.57 38.26 43.51 29.88 34.05 23.16 26.75 18.61 18.45 72.0

32 Automotive Stampings & Assemblies Ltd. Auto sheet metals parts 313 301.25 0.84 0.81 3.98 3.71 29.8 20.82 10% 7% 23.15 25.75 49.94 60.23 38.58 42.71 4.69 4.34 4.18 4.18 73.0

33 Subros Ltd. Automobile ancillaries, nec 647.21 662.83 0.78 0.77 2.69 2.72 76.74 87.94 12% 13% 13.34 12.6 29.57 29.65 56.52 59.56 5.53 6.42 6.01 4.69 74.0

34 Wheels India Ltd. Wheels for automobiles 1005.36 1143.73 0.82 0.82 3.05 3.48 86.8 112.16 9% 10% 41.7 40.72 48.93 68.62 34.92 41.08 14.03 15.4 0.95 1.17 75.3

35 Halonix Ltd. Auto head lights 280.61 359.86 0.61 0.69 1.79 2.61 48.09 69.73 17% 19% 64.09 77.17 18.82 42.15 53.53 57.61 1.92 15.26 26.72 27.51 76.0

36 Bosch Ltd. Automobile engine parts 3895.21 4505.05 0.62 0.60 4.43 4.98 1071.27 1132.77 28% 25% 39.48 42.29 77.03 71.21 48.33 42.84 16.16 13.78 17.24 19.09 76.4

37 Sundaram-Clayton Ltd. Suspension & braking parts 855.94 458.77 0.65 0.69 1.71 0.97 178.26 78.43 21% 17% 48.23 79.51 40.95 41.2 28.23 57.98 5.43 10.73 17.34 46.01 77.1

38 Shriram Pistons & Rings Ltd. Pistons 479.34 555.05 0.49 0.48 0.73 0.83 108.29 123.96 23% 22% 57.28 62.32 52.85 58.1 32.24 34.45 17.39 24.49 18.55 19.47 77.2

39 Turbo Energy Ltd. Automobile ancillaries 466.74 486.48 0.63 0.63 3.30 3.44 122.11 126.55 26% 26% 56.98 70.58 51.03 76.06 41.02 47.96 14.52 17.23 9.72 18.79 78.3

40 Pricol Ltd. Automobile equipment 605.93 636.82 0.75 0.85 1.89 2.26 98.28 82.07 16% 13% 63.08 68.34 39.61 42.45 69.41 80.58 7.5 12.11 4.57 10.14 78.7

41 Brakes India Ltd. Suspension & braking parts 1418.65 1655.83 0.70 0.73 2.51 3.07 209.55 234.65 15% 14% 51.63 54.89 47.03 54.96 40.47 43.22 17.53 16.87 10.48 13.98 80.0

42 Lumax Industries Ltd. Auto head lights 547.84 533.24 0.84 0.84 3.13 3.05 48.6 44.73 9% 8% 35.38 42.64 69.28 81.85 29.51 30.42 4.5 9.71 8.53 13.22 81.4

43 G K N Driveline (India) Ltd. Drive transmission & steering parts 296.61 336.05 0.57 0.57 1.55 1.75 56.6 59.94 19% 18% 19.1 21.17 70.77 75.7 53.11 56.79 19.06 16.02 5.04 4.08 83.9

44 Delphi-T V S Diesel Systems Ltd. Fuel pumps, diesel 502.98 467.69 0.68 0.63 1.83 1.57 108.02 71.71 21% 15% 20.31 37.04 64.21 63.53 36.1 55.29 5.68 8.69 13.24 13.88 84.0

45 Avtec Limited Automobile ancillaries, nec 573.68 478.75 0.76 0.73 2.02 1.61 82.08 75.03 14% 16% 57.24 66.79 61.86 74.49 41.91 54.81 14.54 22.07 7.53 11.34 86.7

Auto AncillAries

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers48

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 51: Reinventing the Supply Chain

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 49

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s1 Jay Bharat Maruti Ltd. Other Automobile ancillaries, nec 519.76 657.39 0.87 0.87 3.24 4.11 42.77 49.09 8% 7% 18.73 18.25 44.97 33.67 10.29 8.49 2.92 2.69 0.63 0.57 39.7

2 Munjal Showa Ltd. Shock absorbers 701.51 719.84 0.81 0.81 3.61 3.71 53.2 47.3 8% 7% 32.76 33.79 46.65 45.47 16.04 12.89 3.11 3.14 0.71 0.87 43.2

3 Sona Koyo Steering Systems Ltd. Drive transmission & steering parts 583.63 690.16 0.80 0.80 2.55 3.01 63.79 67.83 11% 10% 31.66 33.43 55.41 51.8 18.2 15.87 2.99 2.59 0.77 0.59 44.4

4 F C C Rico Ltd. Automobile ancillaries 280.29 316.09 0.75 0.75 9.57 10.79 56.35 55 20% 17% NA 35.42 43.47 41.51 NA 25.1 NA 3.04 NA 8.66 46.7

5 Sandhar Technologies Ltd. Automobile locks 354.89 386.89 0.78 0.75 2.49 2.63 37.19 38.14 10% 10% NA 52.34 67.16 54.21 NA 23.06 NA 3.85 NA 1.66 47.5

6 Toyota Kirloskar Auto Parts Pvt. Ltd. Drive transmission & steering parts 589.03 637.04 0.67 0.67 1.65 1.78 102.52 116.65 17% 18% NA 34.65 45.58 47.93 NA 30.88 NA 2.67 NA 4.56 49.5

7 Sunbeam Auto Ltd. Auto castings 840.86 783.7 0.78 0.79 5.70 5.33 49.14 47.76 6% 6% 32.27 39.42 53.21 49.36 15.87 20.22 8.42 9.41 1.11 1.21 50.9

8 Krishna Maruti Ltd. Auto seating systems 400.45 525.11 0.86 0.88 6.77 9.03 29.14 41.65 7% 8% 20.91 23.73 80.18 66.33 4.44 5.35 0.27 0.22 7.52 3.61 51.0

9 Omax Autos Ltd. Other Automobile ancillaries, nec 695.24 725.63 0.77 0.80 2.01 2.16 76.56 76.78 11% 11% 26.07 34.26 43.62 34.2 8.75 10.23 2.69 3.18 4.68 4.98 51.7

10 Automobile Corpn. Of Goa Ltd. Other Automobile ancillaries, nec 334.92 336.13 0.72 0.72 11.22 11.33 33.71 32.54 10% 10% 41.82 50.35 63.91 62.52 11.93 15.75 16.25 16.3 1.87 1.47 52.3

11 Bosch Chassis Systems India Ltd. Suspension & braking parts 366.52 544.78 0.69 0.70 2.30 3.51 56.79 83.7 15% 15% 80.85 55.57 86.54 71.89 40.47 30.61 8.18 6.91 4.02 4.43 53.7

12 S L Lumax Ltd. Auto head lights 230.78 312.53 0.81 0.76 2.03 2.58 23.92 52.94 10% 17% 42.81 46.05 55.7 65.17 22.38 32.01 3.75 3.33 2.14 2.72 54.3

13 Minda Industries Ltd. Automobile equipment 393.1 404.3 0.80 0.80 2.56 2.62 39.81 47.81 10% 12% 41.58 42.24 55.93 57.42 18.59 22.19 3.74 5.42 1.64 1.97 54.7

14 Rico Auto Inds. Ltd. Automobile ancillaries 776.49 719.01 0.78 0.77 1.41 1.29 97.09 103.06 13% 14% 36.03 51.5 46.21 46.05 23.55 33.01 10.05 15.73 0.23 0.12 56.5

15 Sharda Motor Inds. Ltd. Automobile ancillaries, nec 304.79 368.54 0.77 0.78 2.42 2.95 42.88 48.71 14% 13% 38.61 34.65 61.75 60.41 29.85 20.7 5.96 5.55 3.01 2.77 57.5

16 Endurance Systems (India) Pvt. Ltd. Shock absorbers 374.77 394.23 0.88 0.85 3.64 3.70 19.35 18.02 5% 5% 37.94 38.84 35.28 50.63 7.37 7.45 3.96 5.07 6.3 11.55 60.1

17 Amtek India Ltd. Automobile ancillaries 476.46 771.72 0.72 0.69 0.71 1.10 140.2 224.54 29% 29% 50.96 47.13 75.93 79.74 15.7 16.84 83.84 58.38 0.21 0.14 60.2

18 Amtek Auto Ltd. Automobile ancillaries, nec 894.26 1191.32 0.65 0.63 0.80 1.03 290.5 412.32 32% 35% 46.2 44.31 74.31 80.12 21.93 17.65 59.4 54.64 0.24 0.3 60.4

19 Lucas-Tvs Ltd. Electrical automobile parts 914.81 965.53 0.77 0.78 3.86 4.11 103.71 106.06 11% 11% 38.49 46.42 45.82 51.77 24.41 30.81 6.33 7 8.97 8.17 60.4

20 Banco Products (India) Ltd. Automobile engine parts 265.71 305.03 0.69 0.63 3.04 3.16 39.7 64 15% 21% 66.68 74.18 36.63 35.94 48.54 52.28 11.52 13.33 9.97 11.57 60.9

21 Gabriel India Ltd. Shock absorbers 521.31 475.42 0.74 0.74 3.27 2.99 116.87 33.3 22% 7% 39.32 45.2 39.29 51.04 25.03 28.25 7.88 10.33 6.01 4.36 60.9

22 Spicer India Ltd. Axle shafts 577.18 638.83 0.69 0.68 4.91 5.31 65.59 71.06 11% 11% 43.48 48.12 92.82 93.74 18.05 20.67 12.2 13.66 2.63 4.72 61.9

23 Rane (Madras) Ltd. Steering gears 329.94 349.57 0.73 0.67 3.96 3.85 31.11 61.77 9% 18% 45.15 46.01 53.2 53.64 29.76 30.3 10.25 9.85 20.66 19.73 63.0

24 Automotive Axles Ltd. Axle shafts 461.76 617.32 0.74 0.75 2.77 3.71 84.73 106.51 18% 17% 34.82 33.44 48.09 57.85 42.11 38.86 13.58 14.11 1.66 1.27 65.8

25 Tata Toyo Radiator Ltd. Radiators 308.83 331.21 0.75 0.66 3.35 3.15 31.31 49.3 10% 15% 48.92 53.98 77.6 74.14 49.22 49.71 6.74 7.5 5.86 6.8 67.3

26 Hinduja Foundries Ltd. Automobile ancillaries 394.18 451.44 0.69 0.68 1.39 1.58 41.76 55.71 11% 12% 57.55 60.18 52.72 53.56 33.54 36.08 27.85 35.32 0.92 1.35 67.3

27 Motherson Sumi Systems Ltd. Wiring harness & parts 1100.54 1328.08 0.67 0.68 2.23 2.72 217.72 224.27 20% 17% 39.6 44.73 55.87 57.84 35.23 37.62 9.4 11.61 7.87 6.55 67.4

28 Ucal Fuel Systems Ltd. Carburettors 298.46 306.01 0.62 0.63 1.73 1.81 42.84 41.07 14% 13% 38.59 48.92 55.58 93.75 28.62 31.47 4.36 8 7.91 7.46 68.1

29 Denso India Ltd. Electrical automobile parts 427.69 474.43 0.79 0.79 6.30 7.00 56.88 55.75 13% 12% 26.14 25.82 44.6 53.37 32.02 37.8 4.1 3.73 8.41 11.69 69.7

30 Jamna Auto Inds. Ltd. Leaf springs (Automotive) 278.58 469.68 0.73 0.68 3.21 4.99 7.83 60.16 3% 13% 46.3 40.16 55.61 86.9 12.19 19.67 15.75 23.27 2.48 4.99 70.5

31 Sundram Fasteners Ltd. Automobile ancillaries 1193.83 1216.35 0.55 0.56 1.62 1.69 168.38 168.86 14% 14% 69.22 68.57 38.26 43.51 29.88 34.05 23.16 26.75 18.61 18.45 72.0

32 Automotive Stampings & Assemblies Ltd. Auto sheet metals parts 313 301.25 0.84 0.81 3.98 3.71 29.8 20.82 10% 7% 23.15 25.75 49.94 60.23 38.58 42.71 4.69 4.34 4.18 4.18 73.0

33 Subros Ltd. Automobile ancillaries, nec 647.21 662.83 0.78 0.77 2.69 2.72 76.74 87.94 12% 13% 13.34 12.6 29.57 29.65 56.52 59.56 5.53 6.42 6.01 4.69 74.0

34 Wheels India Ltd. Wheels for automobiles 1005.36 1143.73 0.82 0.82 3.05 3.48 86.8 112.16 9% 10% 41.7 40.72 48.93 68.62 34.92 41.08 14.03 15.4 0.95 1.17 75.3

35 Halonix Ltd. Auto head lights 280.61 359.86 0.61 0.69 1.79 2.61 48.09 69.73 17% 19% 64.09 77.17 18.82 42.15 53.53 57.61 1.92 15.26 26.72 27.51 76.0

36 Bosch Ltd. Automobile engine parts 3895.21 4505.05 0.62 0.60 4.43 4.98 1071.27 1132.77 28% 25% 39.48 42.29 77.03 71.21 48.33 42.84 16.16 13.78 17.24 19.09 76.4

37 Sundaram-Clayton Ltd. Suspension & braking parts 855.94 458.77 0.65 0.69 1.71 0.97 178.26 78.43 21% 17% 48.23 79.51 40.95 41.2 28.23 57.98 5.43 10.73 17.34 46.01 77.1

38 Shriram Pistons & Rings Ltd. Pistons 479.34 555.05 0.49 0.48 0.73 0.83 108.29 123.96 23% 22% 57.28 62.32 52.85 58.1 32.24 34.45 17.39 24.49 18.55 19.47 77.2

39 Turbo Energy Ltd. Automobile ancillaries 466.74 486.48 0.63 0.63 3.30 3.44 122.11 126.55 26% 26% 56.98 70.58 51.03 76.06 41.02 47.96 14.52 17.23 9.72 18.79 78.3

40 Pricol Ltd. Automobile equipment 605.93 636.82 0.75 0.85 1.89 2.26 98.28 82.07 16% 13% 63.08 68.34 39.61 42.45 69.41 80.58 7.5 12.11 4.57 10.14 78.7

41 Brakes India Ltd. Suspension & braking parts 1418.65 1655.83 0.70 0.73 2.51 3.07 209.55 234.65 15% 14% 51.63 54.89 47.03 54.96 40.47 43.22 17.53 16.87 10.48 13.98 80.0

42 Lumax Industries Ltd. Auto head lights 547.84 533.24 0.84 0.84 3.13 3.05 48.6 44.73 9% 8% 35.38 42.64 69.28 81.85 29.51 30.42 4.5 9.71 8.53 13.22 81.4

43 G K N Driveline (India) Ltd. Drive transmission & steering parts 296.61 336.05 0.57 0.57 1.55 1.75 56.6 59.94 19% 18% 19.1 21.17 70.77 75.7 53.11 56.79 19.06 16.02 5.04 4.08 83.9

44 Delphi-T V S Diesel Systems Ltd. Fuel pumps, diesel 502.98 467.69 0.68 0.63 1.83 1.57 108.02 71.71 21% 15% 20.31 37.04 64.21 63.53 36.1 55.29 5.68 8.69 13.24 13.88 84.0

45 Avtec Limited Automobile ancillaries, nec 573.68 478.75 0.76 0.73 2.02 1.61 82.08 75.03 14% 16% 57.24 66.79 61.86 74.49 41.91 54.81 14.54 22.07 7.53 11.34 86.7

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

large manufacturing companies

Page 52: Reinventing the Supply Chain

46 Axles India Ltd. Axle shafts 295.4 358.44 0.83 0.84 3.93 4.81 23.59 26.1 8% 7% 16.45 13.81 64.2 63.54 39.63 38.86 40.8 44.94 4.22 3.43 89.6

47 Bharat Forge Ltd. Automobile ancillaries, nec 1941.95 2306.95 0.57 0.56 0.77 0.89 519.83 611.49 27% 27% 40.11 47.14 131.97 122.78 50.57 49.86 25.82 25.31 12.35 12.14 89.7

48 Federal-Mogul Goetze (India) Ltd. Piston rings 402.9 627.52 0.52 0.59 0.60 1.05 48.07 67.2 12% 11% 55.91 41.78 135.02 109.29 79.6 49.71 43.92 31.25 54.34 29.59 104.4

1 J C B India Ltd. Earth moving machinery 2051.37 3186.27 0.70 0.71 7.12 9.38 358.81 621.4 17% 20% 36.61 34.95 63.86 53.3 24.07 15.13 1.54 1.51 4.45 6.41 15.9

2 Hero Honda Motors Ltd. Motorcycles 10267.95 11011.68 0.75 0.75 5.71 5.28 1387.49 1573.76 14% 14% 7.75 9.36 36 43.32 8.76 10.47 0.76 0.76 1.94 1.62 16.7

3 Maruti Suzuki India Ltd. Passenger cars 15250.5 18490.7 0.71 0.79 3.74 3.63 2586.4 3121.9 17% 17% 15.14 12.53 48 39.8 13.32 12.42 0.95 1.03 8.88 7.14 20.1

4 Action Construction Equipment Ltd. Mobile cranes 248.63 411.35 0.80 0.79 6.90 4.83 29.81 50.11 12% 12% 41.65 38.85 66.38 51.9 26.41 25.02 3.03 2.69 4.94 5.15 25.0

5 New Holland Fiat (India) Pvt. Ltd. Passenger cars 137.38 1321.42 0.96 0.85 0.28 1.26 63.48 165.25 46% 13% NA 39.09 190.11 81.43 NA 19.86 NA 0.75 NA 11.18 27.8

6 Mahindra & Mahindra Ltd. Utility Vehicles incl. jeeps 10250.36 11587.19 0.71 0.74 3.87 3.63 1648.21 1733.02 16% 15% 23.27 25.11 69.55 68.41 19.46 18.21 1 2.06 17.72 16.82 29.5

7 Escorts Construction Equipment Ltd. Mobile cranes 360.55 540.12 0.82 0.80 16.68 7.58 29.32 42.12 8% 8% 67.56 60.96 85.08 80.59 46.57 45.93 5.87 1.65 12.61 11.4 31.1

8 L & T-Komatsu Ltd. Earth moving machinery 809.46 1297.31 0.69 0.65 6.95 9.01 104.05 216.06 13% 17% 44.58 41.23 71.52 66.01 67.45 62.5 21.3 19.99 1.82 3.17 31.3

9 Honda Siel Cars India Ltd. Passenger cars 3902.63 3957.55 0.78 0.92 8.13 4.08 479.42 484.06 12% 12% 0.31 0.96 27.81 42.05 23.22 27.25 1.12 0.83 4.38 13.07 31.6

10 Eicher Motors Ltd. Motorcycles 1981.67 2233.25 0.77 0.81 5.05 5.57 143.26 137.57 7% 6% 25.17 24 70.57 54.21 22.33 21.05 2.32 2.38 12.34 13.34 31.9

11 Punjab Tractors Ltd. [Merged] Tractors 977.42 988.08 0.83 0.79 8.67 8.64 125.71 113.42 13% 11% 210.22 146.39 49.5 46.53 31.91 31.49 5.3 4.65 15 21.45 33.8

12 Escorts Ltd. Tractors 1864.31 2098.68 0.78 0.79 1.64 1.92 157.58 103.18 8% 5% 55.62 66.61 111.28 107.27 33.19 30.61 2.46 3.12 6.35 5.57 35.0

13 Atlas Cycles (Haryana) Ltd. Bicycles 492.87 579.01 0.86 0.81 6.42 6.10 77.37 20.31 16% 4% 108.89 93 98.77 92.28 36.15 39.94 3.19 3.58 9.24 12.19 37.2

14 Elecon Engineering Co. Ltd. Material handling equipment 719.78 829.03 0.65 0.68 3.66 2.92 116.42 140.51 16% 17% 130.91 169.04 125.72 139.99 62.01 65.1 55.36 68.63 9.02 4.75 37.7

15 Hindustan Shipyard Ltd. Ships, boats, etc. 332.13 407.01 0.75 0.69 5.10 4.62 225.07 62.73 68% 15% 163.48 151.11 487.06 615.35 140.68 125.93 88.62 143.82 0.9 0.79 38.3

16 Tata Motors Ltd. Heavy commercial vehicles 27522.88 29312.99 0.76 0.74 3.29 2.07 3362.32 3512.44 12% 12% 8.57 10.79 78.74 102.43 18.96 18.53 5.45 5.33 12.46 14.16 39.2

17 Titagarh Wagons Ltd. Railway wagons, coaches, etc., nec 284.44 565.04 0.77 0.86 6.21 10.97 49.34 97.95 17% 17% 37.92 31.67 122.3 79 75.56 57.03 14.63 5.7 7.59 18.68 40.9

18 Mahindra International Ltd. Commercial vehicles 357.49 467.78 0.87 0.89 5.06 3.91 2.61 3.16 1% 1% 49.25 49.06 87.72 85.87 34.64 23.17 0.96 2.71 18.84 23.42 41.2

19 T V S Motor Co. Ltd. Two wheelers 3873.48 3244.41 0.78 0.83 3.00 2.57 220.34 149.56 6% 5% 7.02 10.14 48.95 49.55 23.3 28.61 2.45 3.15 14.21 17.99 41.7

20 Hindustan Motors Ltd. Passenger cars 621.67 665.45 0.92 0.85 3.01 3.32 58.6 90.47 9% 14% 23.19 19.64 89.2 74.31 51.78 48.48 8.74 10.61 9.03 9.09 42.4

21 B E M L Ltd. Earth moving machinery 2459.09 2586.69 0.65 0.74 9.35 8.14 335.17 388.8 14% 15% 117.56 161.08 180.37 140.92 92.76 109.77 39.52 43.05 15.1 16.69 43.3

22 Swaraj Mazda Ltd. Light commercial vehicles 603.46 670.35 0.89 0.89 11.74 5.99 35.57 53.1 6% 8% 119.1 92.22 99.06 97.15 34.16 35.91 4.34 6.23 20.42 21.45 44.7

23 Ashok Leyland Ltd. Heavy commercial vehicles 7420.84 8054.43 0.82 0.81 3.56 2.99 707.71 895.14 10% 11% 20.51 17.96 69.71 81.77 24.72 28.77 7.8 6.51 22.14 24.54 48.5

24 Asia Motor Works Ltd. Heavy commercial vehicles 98.22 540.2 1.46 0.98 0.57 1.06 10.82 23.41 11% 4% 16.37 30.93 69.55 124.15 91.84 60.44 1.13 1.83 60.45 28.63 52.7

25 Force Motors Ltd. Light commercial vehicles 1003.19 927.77 0.79 0.87 2.43 2.39 21.92 -7.33 2% -1% 37.38 42.21 91.98 108.07 55.06 64.42 14.63 14.89 19.54 19.16 54.9

26 Hindustan Aeronautics Ltd. Aircrafts 8647.57 10292.53 0.93 0.70 2.10 1.61 2133.63 2936.4 25% 29% 64.16 59.26 1149.82 1378.13 170.99 299.13 129.68 152.42 30.62 39.01 55.3

1 Penna Cement Inds. Ltd. Cement 704.63 868.56 0.38 0.35 0.54 0.40 192.66 255.86 27% 29% 15.68 12.39 43.74 55.77 65.01 77.08 2.83 2.61 2.39 2.97 18.9

2 My Home Inds. Ltd. Ordinary portland cement 425.99 779.28 0.28 0.32 0.23 0.46 165.75 320.28 39% 41% 6.96 6.5 67.53 46.01 144.88 106.46 6.51 9.56 0.39 0.71 20.4

3 Andhra Cements Ltd. Cement 99.56 442.25 0.79 0.48 0.61 1.48 70.4 89.62 71% 20% 53.55 15.69 195.66 57.31 107.18 134.72 5.85 2.61 5.02 2.24 22.6

4 J K Lakshmi Cement Ltd. Cement 851.03 1138.17 0.38 0.33 0.39 0.41 267.04 390 31% 34% 11.39 6.72 50.88 55.98 94.94 89.91 6.75 8.7 3.43 2.85 22.7

5 Grasim Industries Ltd. Cement 8799.46 10671.83 0.47 0.47 0.90 0.71 2656.48 3719.79 30% 35% 18.81 20.3 61.63 65.39 78.92 72.01 5.37 4.71 6.73 6.81 25.0

6 Madras Cements Ltd. Cement 1566.74 2012.95 0.36 0.38 0.45 0.31 564.49 764.96 36% 38% 13.52 11.5 70.74 64.85 99.99 147.16 10.39 6.17 2.47 2.61 28.5

7 Ambuja Cements Ltd. Cement 6336.66 6240.58 0.31 0.29 0.64 0.49 2384.26 2835.26 38% 45% 3.96 7.28 38.23 52.38 102.64 147.62 7.24 11.59 2.5 3.25 29.1

8 J K Cement Ltd. Pozzolana portland cement 1250.12 1473.23 0.38 0.35 0.43 0.42 358 438.85 29% 30% 13.41 12.62 61.81 71.03 105.59 128.41 15.8 9.98 3.68 3.02 29.9

9 Shree Cement Ltd. Cement 1411.92 2149.95 0.26 0.28 0.42 0.77 660.45 918.33 47% 43% 5.06 5.67 80.74 64.6 165.02 135.96 25.49 13.96 4.06 3.09 30.2

10 Dalmia Cement (Bharat) Ltd. Cement 1118.48 1654.62 0.44 0.60 0.37 0.55 428.41 633.41 38% 38% 23.91 20.66 181.13 131.96 96.3 77.36 6.13 5.77 41.52 57.27 31.7

11 Mangalam Cement Ltd. Ordinary portland cement 225.19 536.45 0.44 0.44 0.51 0.92 63.5 164.07 28% 31% 8.45 2.55 67.58 40.23 267.34 81.24 34.78 16.95 6.6 3.56 32.7

12 K C P Ltd. Cement 252.26 344.87 0.35 0.42 0.76 1.14 83.95 112.87 33% 33% 25.67 36.5 109.81 82.93 170.3 96.17 80.77 61.03 2.36 4.03 33.9

13 Heidelberg Cement India Ltd. Cement 397.87 578.91 0.52 0.53 1.13 1.62 54.76 113.8 14% 20% 15.29 8.87 63.02 55.62 140.56 95.14 11.42 15.25 7.15 4.27 34.7

14 India Cements Ltd. Cement 2256.46 3088.83 0.35 0.35 0.27 0.26 737.22 1149.09 33% 37% 35.07 29.45 77.77 134.86 182.63 187.58 10.76 12.31 2.87 3 35.0

15 Century Textiles & Inds. Ltd. Cement 3232.04 3545.61 0.45 0.46 0.81 0.70 573.03 657.24 18% 19% 19.01 17.05 48.9 62.71 107.28 105.15 12.87 11.19 14.92 14.62 35.5

Automobile And construction equipment

cement

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers50

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 53: Reinventing the Supply Chain

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 51

46 Axles India Ltd. Axle shafts 295.4 358.44 0.83 0.84 3.93 4.81 23.59 26.1 8% 7% 16.45 13.81 64.2 63.54 39.63 38.86 40.8 44.94 4.22 3.43 89.6

47 Bharat Forge Ltd. Automobile ancillaries, nec 1941.95 2306.95 0.57 0.56 0.77 0.89 519.83 611.49 27% 27% 40.11 47.14 131.97 122.78 50.57 49.86 25.82 25.31 12.35 12.14 89.7

48 Federal-Mogul Goetze (India) Ltd. Piston rings 402.9 627.52 0.52 0.59 0.60 1.05 48.07 67.2 12% 11% 55.91 41.78 135.02 109.29 79.6 49.71 43.92 31.25 54.34 29.59 104.4

1 J C B India Ltd. Earth moving machinery 2051.37 3186.27 0.70 0.71 7.12 9.38 358.81 621.4 17% 20% 36.61 34.95 63.86 53.3 24.07 15.13 1.54 1.51 4.45 6.41 15.9

2 Hero Honda Motors Ltd. Motorcycles 10267.95 11011.68 0.75 0.75 5.71 5.28 1387.49 1573.76 14% 14% 7.75 9.36 36 43.32 8.76 10.47 0.76 0.76 1.94 1.62 16.7

3 Maruti Suzuki India Ltd. Passenger cars 15250.5 18490.7 0.71 0.79 3.74 3.63 2586.4 3121.9 17% 17% 15.14 12.53 48 39.8 13.32 12.42 0.95 1.03 8.88 7.14 20.1

4 Action Construction Equipment Ltd. Mobile cranes 248.63 411.35 0.80 0.79 6.90 4.83 29.81 50.11 12% 12% 41.65 38.85 66.38 51.9 26.41 25.02 3.03 2.69 4.94 5.15 25.0

5 New Holland Fiat (India) Pvt. Ltd. Passenger cars 137.38 1321.42 0.96 0.85 0.28 1.26 63.48 165.25 46% 13% NA 39.09 190.11 81.43 NA 19.86 NA 0.75 NA 11.18 27.8

6 Mahindra & Mahindra Ltd. Utility Vehicles incl. jeeps 10250.36 11587.19 0.71 0.74 3.87 3.63 1648.21 1733.02 16% 15% 23.27 25.11 69.55 68.41 19.46 18.21 1 2.06 17.72 16.82 29.5

7 Escorts Construction Equipment Ltd. Mobile cranes 360.55 540.12 0.82 0.80 16.68 7.58 29.32 42.12 8% 8% 67.56 60.96 85.08 80.59 46.57 45.93 5.87 1.65 12.61 11.4 31.1

8 L & T-Komatsu Ltd. Earth moving machinery 809.46 1297.31 0.69 0.65 6.95 9.01 104.05 216.06 13% 17% 44.58 41.23 71.52 66.01 67.45 62.5 21.3 19.99 1.82 3.17 31.3

9 Honda Siel Cars India Ltd. Passenger cars 3902.63 3957.55 0.78 0.92 8.13 4.08 479.42 484.06 12% 12% 0.31 0.96 27.81 42.05 23.22 27.25 1.12 0.83 4.38 13.07 31.6

10 Eicher Motors Ltd. Motorcycles 1981.67 2233.25 0.77 0.81 5.05 5.57 143.26 137.57 7% 6% 25.17 24 70.57 54.21 22.33 21.05 2.32 2.38 12.34 13.34 31.9

11 Punjab Tractors Ltd. [Merged] Tractors 977.42 988.08 0.83 0.79 8.67 8.64 125.71 113.42 13% 11% 210.22 146.39 49.5 46.53 31.91 31.49 5.3 4.65 15 21.45 33.8

12 Escorts Ltd. Tractors 1864.31 2098.68 0.78 0.79 1.64 1.92 157.58 103.18 8% 5% 55.62 66.61 111.28 107.27 33.19 30.61 2.46 3.12 6.35 5.57 35.0

13 Atlas Cycles (Haryana) Ltd. Bicycles 492.87 579.01 0.86 0.81 6.42 6.10 77.37 20.31 16% 4% 108.89 93 98.77 92.28 36.15 39.94 3.19 3.58 9.24 12.19 37.2

14 Elecon Engineering Co. Ltd. Material handling equipment 719.78 829.03 0.65 0.68 3.66 2.92 116.42 140.51 16% 17% 130.91 169.04 125.72 139.99 62.01 65.1 55.36 68.63 9.02 4.75 37.7

15 Hindustan Shipyard Ltd. Ships, boats, etc. 332.13 407.01 0.75 0.69 5.10 4.62 225.07 62.73 68% 15% 163.48 151.11 487.06 615.35 140.68 125.93 88.62 143.82 0.9 0.79 38.3

16 Tata Motors Ltd. Heavy commercial vehicles 27522.88 29312.99 0.76 0.74 3.29 2.07 3362.32 3512.44 12% 12% 8.57 10.79 78.74 102.43 18.96 18.53 5.45 5.33 12.46 14.16 39.2

17 Titagarh Wagons Ltd. Railway wagons, coaches, etc., nec 284.44 565.04 0.77 0.86 6.21 10.97 49.34 97.95 17% 17% 37.92 31.67 122.3 79 75.56 57.03 14.63 5.7 7.59 18.68 40.9

18 Mahindra International Ltd. Commercial vehicles 357.49 467.78 0.87 0.89 5.06 3.91 2.61 3.16 1% 1% 49.25 49.06 87.72 85.87 34.64 23.17 0.96 2.71 18.84 23.42 41.2

19 T V S Motor Co. Ltd. Two wheelers 3873.48 3244.41 0.78 0.83 3.00 2.57 220.34 149.56 6% 5% 7.02 10.14 48.95 49.55 23.3 28.61 2.45 3.15 14.21 17.99 41.7

20 Hindustan Motors Ltd. Passenger cars 621.67 665.45 0.92 0.85 3.01 3.32 58.6 90.47 9% 14% 23.19 19.64 89.2 74.31 51.78 48.48 8.74 10.61 9.03 9.09 42.4

21 B E M L Ltd. Earth moving machinery 2459.09 2586.69 0.65 0.74 9.35 8.14 335.17 388.8 14% 15% 117.56 161.08 180.37 140.92 92.76 109.77 39.52 43.05 15.1 16.69 43.3

22 Swaraj Mazda Ltd. Light commercial vehicles 603.46 670.35 0.89 0.89 11.74 5.99 35.57 53.1 6% 8% 119.1 92.22 99.06 97.15 34.16 35.91 4.34 6.23 20.42 21.45 44.7

23 Ashok Leyland Ltd. Heavy commercial vehicles 7420.84 8054.43 0.82 0.81 3.56 2.99 707.71 895.14 10% 11% 20.51 17.96 69.71 81.77 24.72 28.77 7.8 6.51 22.14 24.54 48.5

24 Asia Motor Works Ltd. Heavy commercial vehicles 98.22 540.2 1.46 0.98 0.57 1.06 10.82 23.41 11% 4% 16.37 30.93 69.55 124.15 91.84 60.44 1.13 1.83 60.45 28.63 52.7

25 Force Motors Ltd. Light commercial vehicles 1003.19 927.77 0.79 0.87 2.43 2.39 21.92 -7.33 2% -1% 37.38 42.21 91.98 108.07 55.06 64.42 14.63 14.89 19.54 19.16 54.9

26 Hindustan Aeronautics Ltd. Aircrafts 8647.57 10292.53 0.93 0.70 2.10 1.61 2133.63 2936.4 25% 29% 64.16 59.26 1149.82 1378.13 170.99 299.13 129.68 152.42 30.62 39.01 55.3

1 Penna Cement Inds. Ltd. Cement 704.63 868.56 0.38 0.35 0.54 0.40 192.66 255.86 27% 29% 15.68 12.39 43.74 55.77 65.01 77.08 2.83 2.61 2.39 2.97 18.9

2 My Home Inds. Ltd. Ordinary portland cement 425.99 779.28 0.28 0.32 0.23 0.46 165.75 320.28 39% 41% 6.96 6.5 67.53 46.01 144.88 106.46 6.51 9.56 0.39 0.71 20.4

3 Andhra Cements Ltd. Cement 99.56 442.25 0.79 0.48 0.61 1.48 70.4 89.62 71% 20% 53.55 15.69 195.66 57.31 107.18 134.72 5.85 2.61 5.02 2.24 22.6

4 J K Lakshmi Cement Ltd. Cement 851.03 1138.17 0.38 0.33 0.39 0.41 267.04 390 31% 34% 11.39 6.72 50.88 55.98 94.94 89.91 6.75 8.7 3.43 2.85 22.7

5 Grasim Industries Ltd. Cement 8799.46 10671.83 0.47 0.47 0.90 0.71 2656.48 3719.79 30% 35% 18.81 20.3 61.63 65.39 78.92 72.01 5.37 4.71 6.73 6.81 25.0

6 Madras Cements Ltd. Cement 1566.74 2012.95 0.36 0.38 0.45 0.31 564.49 764.96 36% 38% 13.52 11.5 70.74 64.85 99.99 147.16 10.39 6.17 2.47 2.61 28.5

7 Ambuja Cements Ltd. Cement 6336.66 6240.58 0.31 0.29 0.64 0.49 2384.26 2835.26 38% 45% 3.96 7.28 38.23 52.38 102.64 147.62 7.24 11.59 2.5 3.25 29.1

8 J K Cement Ltd. Pozzolana portland cement 1250.12 1473.23 0.38 0.35 0.43 0.42 358 438.85 29% 30% 13.41 12.62 61.81 71.03 105.59 128.41 15.8 9.98 3.68 3.02 29.9

9 Shree Cement Ltd. Cement 1411.92 2149.95 0.26 0.28 0.42 0.77 660.45 918.33 47% 43% 5.06 5.67 80.74 64.6 165.02 135.96 25.49 13.96 4.06 3.09 30.2

10 Dalmia Cement (Bharat) Ltd. Cement 1118.48 1654.62 0.44 0.60 0.37 0.55 428.41 633.41 38% 38% 23.91 20.66 181.13 131.96 96.3 77.36 6.13 5.77 41.52 57.27 31.7

11 Mangalam Cement Ltd. Ordinary portland cement 225.19 536.45 0.44 0.44 0.51 0.92 63.5 164.07 28% 31% 8.45 2.55 67.58 40.23 267.34 81.24 34.78 16.95 6.6 3.56 32.7

12 K C P Ltd. Cement 252.26 344.87 0.35 0.42 0.76 1.14 83.95 112.87 33% 33% 25.67 36.5 109.81 82.93 170.3 96.17 80.77 61.03 2.36 4.03 33.9

13 Heidelberg Cement India Ltd. Cement 397.87 578.91 0.52 0.53 1.13 1.62 54.76 113.8 14% 20% 15.29 8.87 63.02 55.62 140.56 95.14 11.42 15.25 7.15 4.27 34.7

14 India Cements Ltd. Cement 2256.46 3088.83 0.35 0.35 0.27 0.26 737.22 1149.09 33% 37% 35.07 29.45 77.77 134.86 182.63 187.58 10.76 12.31 2.87 3 35.0

15 Century Textiles & Inds. Ltd. Cement 3232.04 3545.61 0.45 0.46 0.81 0.70 573.03 657.24 18% 19% 19.01 17.05 48.9 62.71 107.28 105.15 12.87 11.19 14.92 14.62 35.5

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

large manufacturing companies

Page 54: Reinventing the Supply Chain

16 Saurashtra Cement Ltd. Ordinary portland cement 270.77 417.65 0.59 0.50 0.59 0.68 64.79 75.33 24% 18% 34.71 26.46 192.65 196.48 141.53 132.22 9.87 7.65 6.33 5.76 38.0

17 Birla Corporation Ltd. Cement 1560.57 1729.9 0.36 0.39 1.03 1.05 521.22 614.46 33% 36% 6.06 6.28 84.22 81.32 100.95 108.89 11.11 14.71 5.41 6.65 38.4

18 Lafarge India Pvt. Ltd. Cement 1172.62 1346.92 0.29 0.28 0.32 0.28 253.1 443.99 22% 33% NA 14.55 105.02 141.75 NA 83.64 NA 26.32 NA 4.94 38.7

19 Ultratech Cement Ltd. Cement 4927.26 5533.42 0.39 0.37 0.60 0.43 1472.57 1812.33 30% 33% 11.9 11.62 63.71 89.26 114.64 136.12 16.02 13.81 4.8 4.1 39.7

20 Prism Cement Ltd. Cement 555.43 757.86 0.43 0.33 0.66 0.69 140.89 332.08 25% 44% 8.93 4.92 79.47 86.68 175.02 187.84 11.26 16 5.08 3.87 41.3

21 A C C Ltd. Cement 5728.46 6909.77 0.34 0.35 0.56 0.60 1936.96 2360.71 34% 34% 12.48 11.75 82.35 95.07 151.62 162.33 27.52 21.97 4.72 4.07 43.2

22 Chettinad Cement Corpn. Ltd. Cement 731.51 930.36 0.38 0.40 0.53 0.44 239.33 347.19 33% 37% 7.9 5.49 44.75 73.3 119.61 142.23 20.87 16.63 2.91 5.05 44.4

23 O C L India Ltd. Cement 786.42 765.2 0.52 0.43 0.69 0.36 185 243.59 24% 32% 35.49 38.41 56.77 105.46 98.2 154.41 10.01 13.68 14.66 16.14 44.8

24 Cement Corpn. Of India Ltd. Cement 428.48 311.53 0.30 0.41 0.95 0.96 218.3 90.12 51% 29% NA 25.24 344.06 331.69 NA 1256.79 NA 33.21 NA 9.89 50.7

1 National Fertilizers Ltd. Urea 3876.03 4178.58 0.78 0.80 3.38 4.09 392.81 267.14 10% 6% 96.46 87.93 57.26 60.25 43.71 43.76 1.48 1.18 6.41 6.67 54.6

2 Nagarjuna Fertilizers & Chemicals Ltd. Urea 1819.81 2196.35 0.72 0.77 0.59 0.82 287.77 272.74 16% 12% 63.28 51.17 29.38 49.79 17.95 17.91 0.75 0.95 8.46 17.63 55.9

3 Paradeep Phosphates Ltd. Diammonium phosphate (DAP)(18-46-0) 2026.67 2443.52 0.75 0.72 5.68 6.82 190.01 186.3 9% 8% 120.7 97.23 93.35 103.87 52.19 37.99 1.91 2.59 19.28 11.38 58.5

4 Jindal Photo Ltd. Photographic or cinematographic goods 363.6 361.28 0.76 0.77 7.95 8.79 37.54 59.68 10% 17% 5.5 6.02 27.73 23.84 25.25 29.81 1.54 1.35 18.38 23.18 60.0

5 I G Petrochemicals Ltd. Phthalic Anhydride 585.35 589.75 0.84 0.84 1.83 1.99 62.93 59.85 11% 10% 19.44 23.27 33.72 53.2 25.33 27.06 1.43 1.94 4.71 6.33 61.5

6 Bodal Chemicals Ltd. Sulphonated & nitrated derivatives of 257.57 415.08 0.87 0.88 4.87 3.54 19.66 38.98 8% 9% 73.98 71.05 66.79 73.44 23.01 21.99 0 6.01 7.7 7.98 62.6

7 Gujarat Alkalies & Chemicals Ltd. Sodium hydroxide (Caustic Soda) 1078.31 1163.81 0.49 0.54 0.47 0.50 410.89 412.12 38% 35% 52.29 53.02 47.27 56.25 65.39 69.59 1.98 1.71 5.61 6.28 64.7

8 B A S F India Ltd. Leather auxilliaries 772.44 916.27 0.70 0.70 5.20 5.34 90.48 107.88 12% 12% 66.41 57.15 57.9 58 47.57 43.86 1.85 1.77 24.47 21.5 64.7

9 Kansai Nerolac Paints Ltd. Industrial paints 1308.68 1428.18 0.60 0.57 3.78 3.50 195.48 210.65 15% 15% 41.48 46.06 40.91 42.82 30.56 26.68 7.95 6.19 26.23 25.64 66.6

10 Jayant Agro-Organics Ltd. Hydrogenated castor oil 453.44 606.86 0.92 0.96 13.58 19.16 17.36 22.35 4% 4% 265.93 19.41 19.85 13.58 32.84 34.17 0.6 0.51 20.26 25.35 68.7

11 I C I India Ltd. Decorative paints 1189.08 1057.53 0.48 0.52 4.27 3.79 611.65 115.87 51% 11% 36.18 34.8 83.19 90.39 29.85 26.57 1.48 1.17 28.65 31.15 70.1

12 Zuari Industries Ltd. NPK mixed fertilisers 2790.91 2660.4 0.77 0.82 11.98 12.83 530.57 190.09 19% 7% 93.37 73.52 66.62 73.92 40.86 47.05 1.43 2.36 15.31 16.66 70.9

13 Deepak Nitrite Ltd. Para nitrochlorobenzene 416.38 470.48 0.86 0.75 1.97 2.08 69.49 38.74 17% 8% 68.95 74.77 59.39 45 19.96 23.93 12.08 18.21 24.33 20.41 73.2

14 Mangalore Chemicals & Fertilizers Ltd. Urea 1373.31 1662.2 0.81 0.85 3.63 4.36 73.53 92.44 5% 6% 6.74 6.02 52.96 55.39 45.64 57.59 0.14 0.15 10.38 4.48 73.4

15 Hindustan Organic Chemicals Ltd. Organic chemicals 509.53 580.58 0.78 0.75 1.48 1.67 66.26 59 13% 10% 46.3 49.48 65.88 55.98 37.98 36.05 7.17 6.54 18.37 9.78 74.1

16 Meghmani Organics Ltd. Pesticides 476.06 601.72 0.74 0.70 2.39 3.05 70.45 70.75 15% 12% 135.3 131 39.74 52.71 22.76 28.09 19.09 22.78 38.46 24.62 74.5

17 Gujarat Narmada Valley Fertilizers Co. Ltd. Urea 2751.86 3379.01 0.70 0.68 1.69 1.73 624.87 698.35 23% 21% 64.09 51.06 64.48 41.4 72.17 68.77 4.24 4.12 12.51 13.08 74.7

18 Manali Petrochemical Ltd. Propylene glycol 316.57 329.46 0.82 0.79 5.25 3.92 36.8 18.77 12% 6% 35.9 33.84 30.81 31.35 36.18 38.68 2.67 3.19 24.46 23.88 76.7

19 Tata Chemicals Ltd. Fertilisers 4120.8 4663.62 0.61 0.55 1.65 1.70 826.92 1326.36 20% 28% 58.66 58.97 66.46 98.47 61.75 68.41 0.08 1.17 22.78 22.44 77.1

20 Gujarat State Fertilizers & Chemicals Ltd. Urea 3352.2 3600.21 0.75 0.71 1.87 2.00 604.87 545.48 18% 15% 90.55 68.65 48.3 47.3 49.99 54.73 5.1 5.38 23.75 22.64 77.6

21 Tamilnadu Petroproducts Ltd. Linear alkyl benzene 827.22 784.22 0.77 0.76 1.33 1.32 45.61 39.22 6% 5% 25.31 22.61 73.93 70.29 54.64 41.58 5.58 1.57 9.3 9.56 78.4

22 I O L Chemicals & Pharmaceuticals Ltd. Carboxylic acids 202.69 318.11 0.91 0.86 1.62 1.79 18.77 39.98 9% 13% 24.93 25.75 66.83 57.4 27.73 17.73 20.44 18.28 6.12 8.32 79.3

23 Kanoria Chemicals & Inds. Ltd. Inorganic chemicals 434.21 437.17 0.69 0.59 0.63 0.44 84.19 101.72 19% 23% 34.92 40.76 36.71 54.88 47.28 56.87 3.95 5.07 15.55 14.84 79.7

24 Chambal Fertilisers & Chemicals Ltd. Urea 2605.6 2791.35 0.72 0.57 0.85 0.68 488.55 545.49 19% 20% 60.23 46.51 20.51 27.13 38.27 57.17 3.71 2.75 27.62 26.85 79.7

25 Asian Paints Ltd. Decorative paints 2955.16 3619.35 0.56 0.52 4.74 3.33 464.33 613.9 16% 17% 23.12 22.09 72.8 81.53 31.17 34.6 4.53 4.8 26.57 26.88 80.6

26 Excel Crop Care Ltd. Pesticides 411.91 519.13 0.63 0.64 3.21 3.64 46.11 54.23 11% 10% 78 73.25 62.75 65.31 29.71 33.86 11.83 10.86 34.21 31.46 80.7

27 Khaitan Chemicals & Fertilizers Ltd. Single superphosphate 373.02 399.31 0.92 0.75 3.94 3.30 27.84 31.02 7% 8% 12.75 10.32 22.75 35.25 41.2 38.39 0.26 0.38 35.71 38.51 80.9

28 Thirumalai Chemicals Ltd. Phthalic Anhydride 536.51 586.37 0.80 0.74 4.04 3.58 59.14 68.07 11% 12% 70.41 83.31 99.35 44.78 46.42 50.6 4.59 5.96 41.85 31.58 81.5

29 Pidilite Industries Ltd. Glues (adhesive) 1156.84 1542.55 0.57 0.55 1.96 1.54 190.75 292.27 16% 19% 34.09 38.15 41.31 46.88 43.31 47.22 3.47 4.45 29.42 27.91 81.8

30 Coromandel International Ltd. Ammonium phosphate (16-20-0) 2099.42 3816.73 0.76 0.74 4.19 3.83 221 454.18 11% 12% 23.85 12.95 105.88 87.35 51.39 59.19 2 1.15 34.16 19.37 84.1

31 Indian Farmers Fertiliser Co-Op. Ltd. Mixed fertilisers 10496.75 12447.8 0.94 0.62 1.95 1.49 1022.36 1205.22 10% 10% 14.84 11.67 35.89 37.31 50.83 60.76 1.36 1.47 34.37 23.08 84.4

32 Aarti Industries Ltd. Para nitrochlorobenzene 704.8 887.33 0.76 0.79 1.82 2.23 90.46 118.72 13% 13% 81.61 68.72 49.8 37.55 42.58 43.46 36.83 31.96 19.24 21.06 84.6

33 Gujarat Fluorochemicals Ltd. Refrigerant gases 236.85 384.15 0.84 0.70 0.29 0.31 377.59 511.99 159% 133% 76.47 122.52 306.72 221.23 102.67 87.91 0.46 1.79 18.23 19.03 84.9

34 Micro Inks Ltd. Printing ink 727.49 1175.71 0.81 0.75 1.73 2.46 -5.49 141.4 -1% 12% 127.14 89.52 139.81 68.22 67.78 53.01 22.98 20.38 17.78 14.09 85.0

35 Clariant Chemicals (India) Ltd. Dyes 692.9 869.7 0.74 0.71 3.09 3.61 68.18 72.95 10% 8% 68.6 53.1 95.08 68.99 49.26 34.89 14.03 8.48 33.89 26.57 86.0

36 Jubilant Organosys Ltd. Organic chemicals 1714.26 2112.85 0.62 0.58 1.05 0.98 369.66 572.8 22% 27% 53.6 53.7 55.93 47.17 77.96 70.81 12.88 13.52 14.33 14.03 87.1

chemicAls

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers52

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 55: Reinventing the Supply Chain

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 53

16 Saurashtra Cement Ltd. Ordinary portland cement 270.77 417.65 0.59 0.50 0.59 0.68 64.79 75.33 24% 18% 34.71 26.46 192.65 196.48 141.53 132.22 9.87 7.65 6.33 5.76 38.0

17 Birla Corporation Ltd. Cement 1560.57 1729.9 0.36 0.39 1.03 1.05 521.22 614.46 33% 36% 6.06 6.28 84.22 81.32 100.95 108.89 11.11 14.71 5.41 6.65 38.4

18 Lafarge India Pvt. Ltd. Cement 1172.62 1346.92 0.29 0.28 0.32 0.28 253.1 443.99 22% 33% NA 14.55 105.02 141.75 NA 83.64 NA 26.32 NA 4.94 38.7

19 Ultratech Cement Ltd. Cement 4927.26 5533.42 0.39 0.37 0.60 0.43 1472.57 1812.33 30% 33% 11.9 11.62 63.71 89.26 114.64 136.12 16.02 13.81 4.8 4.1 39.7

20 Prism Cement Ltd. Cement 555.43 757.86 0.43 0.33 0.66 0.69 140.89 332.08 25% 44% 8.93 4.92 79.47 86.68 175.02 187.84 11.26 16 5.08 3.87 41.3

21 A C C Ltd. Cement 5728.46 6909.77 0.34 0.35 0.56 0.60 1936.96 2360.71 34% 34% 12.48 11.75 82.35 95.07 151.62 162.33 27.52 21.97 4.72 4.07 43.2

22 Chettinad Cement Corpn. Ltd. Cement 731.51 930.36 0.38 0.40 0.53 0.44 239.33 347.19 33% 37% 7.9 5.49 44.75 73.3 119.61 142.23 20.87 16.63 2.91 5.05 44.4

23 O C L India Ltd. Cement 786.42 765.2 0.52 0.43 0.69 0.36 185 243.59 24% 32% 35.49 38.41 56.77 105.46 98.2 154.41 10.01 13.68 14.66 16.14 44.8

24 Cement Corpn. Of India Ltd. Cement 428.48 311.53 0.30 0.41 0.95 0.96 218.3 90.12 51% 29% NA 25.24 344.06 331.69 NA 1256.79 NA 33.21 NA 9.89 50.7

1 National Fertilizers Ltd. Urea 3876.03 4178.58 0.78 0.80 3.38 4.09 392.81 267.14 10% 6% 96.46 87.93 57.26 60.25 43.71 43.76 1.48 1.18 6.41 6.67 54.6

2 Nagarjuna Fertilizers & Chemicals Ltd. Urea 1819.81 2196.35 0.72 0.77 0.59 0.82 287.77 272.74 16% 12% 63.28 51.17 29.38 49.79 17.95 17.91 0.75 0.95 8.46 17.63 55.9

3 Paradeep Phosphates Ltd. Diammonium phosphate (DAP)(18-46-0) 2026.67 2443.52 0.75 0.72 5.68 6.82 190.01 186.3 9% 8% 120.7 97.23 93.35 103.87 52.19 37.99 1.91 2.59 19.28 11.38 58.5

4 Jindal Photo Ltd. Photographic or cinematographic goods 363.6 361.28 0.76 0.77 7.95 8.79 37.54 59.68 10% 17% 5.5 6.02 27.73 23.84 25.25 29.81 1.54 1.35 18.38 23.18 60.0

5 I G Petrochemicals Ltd. Phthalic Anhydride 585.35 589.75 0.84 0.84 1.83 1.99 62.93 59.85 11% 10% 19.44 23.27 33.72 53.2 25.33 27.06 1.43 1.94 4.71 6.33 61.5

6 Bodal Chemicals Ltd. Sulphonated & nitrated derivatives of 257.57 415.08 0.87 0.88 4.87 3.54 19.66 38.98 8% 9% 73.98 71.05 66.79 73.44 23.01 21.99 0 6.01 7.7 7.98 62.6

7 Gujarat Alkalies & Chemicals Ltd. Sodium hydroxide (Caustic Soda) 1078.31 1163.81 0.49 0.54 0.47 0.50 410.89 412.12 38% 35% 52.29 53.02 47.27 56.25 65.39 69.59 1.98 1.71 5.61 6.28 64.7

8 B A S F India Ltd. Leather auxilliaries 772.44 916.27 0.70 0.70 5.20 5.34 90.48 107.88 12% 12% 66.41 57.15 57.9 58 47.57 43.86 1.85 1.77 24.47 21.5 64.7

9 Kansai Nerolac Paints Ltd. Industrial paints 1308.68 1428.18 0.60 0.57 3.78 3.50 195.48 210.65 15% 15% 41.48 46.06 40.91 42.82 30.56 26.68 7.95 6.19 26.23 25.64 66.6

10 Jayant Agro-Organics Ltd. Hydrogenated castor oil 453.44 606.86 0.92 0.96 13.58 19.16 17.36 22.35 4% 4% 265.93 19.41 19.85 13.58 32.84 34.17 0.6 0.51 20.26 25.35 68.7

11 I C I India Ltd. Decorative paints 1189.08 1057.53 0.48 0.52 4.27 3.79 611.65 115.87 51% 11% 36.18 34.8 83.19 90.39 29.85 26.57 1.48 1.17 28.65 31.15 70.1

12 Zuari Industries Ltd. NPK mixed fertilisers 2790.91 2660.4 0.77 0.82 11.98 12.83 530.57 190.09 19% 7% 93.37 73.52 66.62 73.92 40.86 47.05 1.43 2.36 15.31 16.66 70.9

13 Deepak Nitrite Ltd. Para nitrochlorobenzene 416.38 470.48 0.86 0.75 1.97 2.08 69.49 38.74 17% 8% 68.95 74.77 59.39 45 19.96 23.93 12.08 18.21 24.33 20.41 73.2

14 Mangalore Chemicals & Fertilizers Ltd. Urea 1373.31 1662.2 0.81 0.85 3.63 4.36 73.53 92.44 5% 6% 6.74 6.02 52.96 55.39 45.64 57.59 0.14 0.15 10.38 4.48 73.4

15 Hindustan Organic Chemicals Ltd. Organic chemicals 509.53 580.58 0.78 0.75 1.48 1.67 66.26 59 13% 10% 46.3 49.48 65.88 55.98 37.98 36.05 7.17 6.54 18.37 9.78 74.1

16 Meghmani Organics Ltd. Pesticides 476.06 601.72 0.74 0.70 2.39 3.05 70.45 70.75 15% 12% 135.3 131 39.74 52.71 22.76 28.09 19.09 22.78 38.46 24.62 74.5

17 Gujarat Narmada Valley Fertilizers Co. Ltd. Urea 2751.86 3379.01 0.70 0.68 1.69 1.73 624.87 698.35 23% 21% 64.09 51.06 64.48 41.4 72.17 68.77 4.24 4.12 12.51 13.08 74.7

18 Manali Petrochemical Ltd. Propylene glycol 316.57 329.46 0.82 0.79 5.25 3.92 36.8 18.77 12% 6% 35.9 33.84 30.81 31.35 36.18 38.68 2.67 3.19 24.46 23.88 76.7

19 Tata Chemicals Ltd. Fertilisers 4120.8 4663.62 0.61 0.55 1.65 1.70 826.92 1326.36 20% 28% 58.66 58.97 66.46 98.47 61.75 68.41 0.08 1.17 22.78 22.44 77.1

20 Gujarat State Fertilizers & Chemicals Ltd. Urea 3352.2 3600.21 0.75 0.71 1.87 2.00 604.87 545.48 18% 15% 90.55 68.65 48.3 47.3 49.99 54.73 5.1 5.38 23.75 22.64 77.6

21 Tamilnadu Petroproducts Ltd. Linear alkyl benzene 827.22 784.22 0.77 0.76 1.33 1.32 45.61 39.22 6% 5% 25.31 22.61 73.93 70.29 54.64 41.58 5.58 1.57 9.3 9.56 78.4

22 I O L Chemicals & Pharmaceuticals Ltd. Carboxylic acids 202.69 318.11 0.91 0.86 1.62 1.79 18.77 39.98 9% 13% 24.93 25.75 66.83 57.4 27.73 17.73 20.44 18.28 6.12 8.32 79.3

23 Kanoria Chemicals & Inds. Ltd. Inorganic chemicals 434.21 437.17 0.69 0.59 0.63 0.44 84.19 101.72 19% 23% 34.92 40.76 36.71 54.88 47.28 56.87 3.95 5.07 15.55 14.84 79.7

24 Chambal Fertilisers & Chemicals Ltd. Urea 2605.6 2791.35 0.72 0.57 0.85 0.68 488.55 545.49 19% 20% 60.23 46.51 20.51 27.13 38.27 57.17 3.71 2.75 27.62 26.85 79.7

25 Asian Paints Ltd. Decorative paints 2955.16 3619.35 0.56 0.52 4.74 3.33 464.33 613.9 16% 17% 23.12 22.09 72.8 81.53 31.17 34.6 4.53 4.8 26.57 26.88 80.6

26 Excel Crop Care Ltd. Pesticides 411.91 519.13 0.63 0.64 3.21 3.64 46.11 54.23 11% 10% 78 73.25 62.75 65.31 29.71 33.86 11.83 10.86 34.21 31.46 80.7

27 Khaitan Chemicals & Fertilizers Ltd. Single superphosphate 373.02 399.31 0.92 0.75 3.94 3.30 27.84 31.02 7% 8% 12.75 10.32 22.75 35.25 41.2 38.39 0.26 0.38 35.71 38.51 80.9

28 Thirumalai Chemicals Ltd. Phthalic Anhydride 536.51 586.37 0.80 0.74 4.04 3.58 59.14 68.07 11% 12% 70.41 83.31 99.35 44.78 46.42 50.6 4.59 5.96 41.85 31.58 81.5

29 Pidilite Industries Ltd. Glues (adhesive) 1156.84 1542.55 0.57 0.55 1.96 1.54 190.75 292.27 16% 19% 34.09 38.15 41.31 46.88 43.31 47.22 3.47 4.45 29.42 27.91 81.8

30 Coromandel International Ltd. Ammonium phosphate (16-20-0) 2099.42 3816.73 0.76 0.74 4.19 3.83 221 454.18 11% 12% 23.85 12.95 105.88 87.35 51.39 59.19 2 1.15 34.16 19.37 84.1

31 Indian Farmers Fertiliser Co-Op. Ltd. Mixed fertilisers 10496.75 12447.8 0.94 0.62 1.95 1.49 1022.36 1205.22 10% 10% 14.84 11.67 35.89 37.31 50.83 60.76 1.36 1.47 34.37 23.08 84.4

32 Aarti Industries Ltd. Para nitrochlorobenzene 704.8 887.33 0.76 0.79 1.82 2.23 90.46 118.72 13% 13% 81.61 68.72 49.8 37.55 42.58 43.46 36.83 31.96 19.24 21.06 84.6

33 Gujarat Fluorochemicals Ltd. Refrigerant gases 236.85 384.15 0.84 0.70 0.29 0.31 377.59 511.99 159% 133% 76.47 122.52 306.72 221.23 102.67 87.91 0.46 1.79 18.23 19.03 84.9

34 Micro Inks Ltd. Printing ink 727.49 1175.71 0.81 0.75 1.73 2.46 -5.49 141.4 -1% 12% 127.14 89.52 139.81 68.22 67.78 53.01 22.98 20.38 17.78 14.09 85.0

35 Clariant Chemicals (India) Ltd. Dyes 692.9 869.7 0.74 0.71 3.09 3.61 68.18 72.95 10% 8% 68.6 53.1 95.08 68.99 49.26 34.89 14.03 8.48 33.89 26.57 86.0

36 Jubilant Organosys Ltd. Organic chemicals 1714.26 2112.85 0.62 0.58 1.05 0.98 369.66 572.8 22% 27% 53.6 53.7 55.93 47.17 77.96 70.81 12.88 13.52 14.33 14.03 87.1

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

large manufacturing companies

Page 56: Reinventing the Supply Chain

37 Punjab Chemicals & Crop Protection Ltd. Pesticides 321.95 459.12 0.81 0.74 2.30 2.62 32.71 76.43 10% 17% 79.84 101.38 76.3 133.41 45.18 43.77 12.01 12.49 28.72 22.53 88.0

38 India Glycols Ltd. Ethylene glycol 901.85 1327.06 0.65 0.58 0.76 0.91 141.65 345.85 16% 26% 27.09 19.82 93.39 42.49 108.77 105.24 11.83 10.66 17 8.42 88.3

39 Rallis India Ltd. Pesticides 634.26 685.7 0.62 0.67 2.71 3.12 100.49 170.33 16% 25% 79.46 75.31 125.49 74.59 54.04 55.62 6.68 5.05 47.36 39.42 88.8

40 Southern Petrochemical Inds. Corpn. Ltd. Diammonium phosphate (DAP)(18-46-0) 3308.85 1497.12 0.81 0.67 1.85 0.74 -6.13 -54.65 0% -4% 19.57 41.32 106.27 182.16 19.51 55.06 0.85 3.75 2.1 2.65 89.0

41 Sree Rayalaseema Alkalies & Allied Sodium hydroxide (Caustic Soda) 378.05 451.23 0.63 0.65 0.60 0.70 90.78 97.92 24% 22% 35.62 36.46 97.57 108.41 71.51 61.51 4.01 3.34 5.5 12.08 89.5

42 Berger Paints India Ltd. Decorative paints 1164.86 1347.26 0.66 0.63 5.72 5.37 130.26 150.29 11% 11% 34.8 36.05 58.31 53.78 43.44 44.71 6.02 6.15 37.26 37.28 90.1

43 Shalimar Paints Ltd. Decorative paints 257.72 301.66 0.67 0.61 7.70 6.96 16.14 23.84 6% 8% 71.42 75.98 93.19 101.44 40.9 40.19 8.78 8.15 40.8 39.51 90.1

44 Atul Ltd. Dyes 919.21 1028.97 0.69 0.76 2.14 1.80 90.7 103.7 10% 10% 91.25 91.93 80.18 78.14 49.49 40.76 32.06 27.99 26.03 22.21 92.1

45 Sudarshan Chemical Inds. Ltd. Pigments 385.66 397.69 0.76 0.75 3.77 3.73 26.74 33.8 7% 8% 75.8 74.43 49.38 58.53 51 43.47 12.45 12.29 30.76 32.22 93.3

46 Rashtriya Chemicals & Fertilizers Ltd. Urea 3544.22 5198.5 0.93 0.80 2.91 3.56 369.08 397.71 10% 8% 85.86 72.79 41.89 42.26 81.9 72.87 2.02 2.7 28.28 35.3 96.1

47 Saurashtra Chemicals Ltd. Sodium carbonate (Soda Ash) 151.41 312.37 0.73 0.67 0.44 0.78 -0.79 60.18 -1% 19% 71.74 44.03 114.72 72.74 297.91 172.75 7.93 6.38 13.31 9.36 96.5

48 Bilag Industries Pvt. Ltd. Pesticides & pesticide intermediates, nec 535.34 788.48 0.57 0.70 1.59 3.11 167.99 234.29 31% 30% 46.56 44.11 104.43 70.1 59.89 47.72 29.75 27.62 39.25 23.86 96.6

49 United Phosphorus Ltd. Pesticides 1510.25 1665.8 0.55 0.56 0.73 1.15 358.36 277.54 24% 17% 100.1 102.69 185.41 169.46 44.52 50.67 10.36 12.48 28.17 28.09 96.6

50 Nocil Ltd. Rubber chemicals 316.78 379.9 0.78 0.77 1.40 1.68 46.1 27.29 15% 7% 79.48 69.26 70.42 58.92 43.52 41.87 13.52 12.5 36.65 30.87 101.4

51 Syngenta India Ltd. Pesticides 850.34 1219.19 0.62 0.68 3.54 4.79 116.87 182.98 14% 15% 111.06 72.92 96.94 96.4 81.12 68.68 12.59 10.77 45.47 31.08 101.8

52 Nagarjuna Agrichem Ltd. Monocrotophos 354.86 413.44 0.62 0.64 1.52 1.71 54.42 69.69 15% 17% 62.51 51.91 85.4 77.7 56.53 58.41 8.88 10.73 45.38 26.85 102.0

53 S I Group-India Ltd. Phenol 612.14 655.33 0.89 0.82 3.26 3.35 26.28 53.82 4% 8% 56.81 60.4 62.6 63.93 66.13 62.67 13.85 12.8 15.88 19.1 102.2

54 M C C Pta India Corpn. Pvt. Ltd. Purified Terephthalic acid (PTA) 1609.4 1774.49 1.00 0.83 1.42 0.71 61.14 46.09 4% 3% 37.54 30.3 173.84 122.53 55.56 55.62 2.97 3.19 13.51 12.36 104.0

55 G H C L Ltd. Sodium carbonate (Soda Ash) 1092.08 1085.71 0.58 0.69 0.66 0.74 323.59 276.32 30% 25% 29.94 39.01 71.22 66.39 138.86 116.07 7.71 6.3 10.94 24.06 107.0

56 Godrej Industries Ltd. Organic chemicals 759.5 818.48 0.70 0.59 1.86 1.79 141.03 175.18 19% 21% 39.59 56.17 88.95 123.4 60.22 88.44 26.28 32.66 16.76 16.25 108.9

57 Madras Fertilizers Ltd. NPK mixed fertilisers 1210.54 1143.31 0.88 0.94 2.60 2.90 7.85 -14.69 1% -1% 1.85 1.99 106.77 113.34 59.12 54.15 21.31 15.29 2.02 2.88 109.5

58 Sterling Biotech Ltd. Gelatin 605.85 910.85 0.38 0.45 0.15 0.21 284.82 406.71 47% 45% 81.8 67.58 38.34 21.19 113.71 76.2 151.18 112.82 62.93 45.73 109.6

59 E I Dupont India Pvt. Ltd. Pesticides 991.22 1071.53 0.75 0.73 9.59 6.34 57.89 95.54 6% 9% 54.94 64.89 68.42 88.29 122.48 81.56 9.63 7.62 56.68 51.44 115.5

60 Ciba India Ltd. Synthetic colouring substances 515.26 474.13 0.86 0.87 11.22 9.77 102.15 39.28 20% 8% 70.38 57.18 55.28 80.57 60.58 59.47 21.02 16.06 45.28 42.36 121.1

61 Bayer Cropscience Ltd. Pesticides 744.61 1184.92 0.65 0.75 3.10 3.60 118.09 101.39 16% 9% 98.52 64.26 88.09 105.95 71.22 76.96 21.72 25.84 46.02 27.41 122.6

62 Hikal Ltd. Organic chemicals 238.42 316.37 0.63 0.62 0.71 0.63 66.12 97.71 28% 31% 67.43 60.81 100.29 95.15 121.95 136.31 71.92 75.37 76.85 53.67 131.4

63 Monsanto India Ltd. Pesticides 323.05 381.42 0.23 0.32 0.65 1.08 87.47 139.08 27% 36% 28.65 22.52 122.59 122.13 172.89 130.99 82.16 86.48 54.2 34.2 132.4

1 Procter & Gamble Hygiene & Health t & toilet preparations 575.14 541.64 0.27 0.26 1.62 1.11 201.37 143.77 35% 27% 15.51 7.47 54.54 67.39 43.71 36.68 3.95 1.27 12.19 10.7 12.0

2 Emami Ltd. Cosmetics & toilet preparations 499.82 571.91 0.38 0.38 2.32 2.37 82.91 117.65 17% 21% 28.93 24.83 34.83 37.83 41.14 42.23 1.66 1.82 17.77 16.89 14.4

3 Colgate-Palmolive (India) Ltd. Preparations for oral or dental hygiene 1338.98 1527.93 0.44 0.41 3.10 3.17 217.85 313.34 16% 21% 2.03 2.12 90.06 93.99 26.19 19.87 2.32 1.94 16.47 15.95 15.4

4 Rohit Surfactants Pvt. Ltd. Synthetic detergents 921.26 1092.52 0.85 0.82 4.48 3.19 48.73 76.67 5% 7% NA 12.13 22.56 34.04 NA 37.7 NA 2.35 NA 9.3 15.4

5 Sharp Menthol India Ltd. Essential oils 390.3 677.4 0.92 0.91 56.65 27.09 18.14 38.21 5% 6% 91.65 77.39 68.5 48.12 0.69 8.51 81.85 82.37 26.21 13.51 16.0

6 Dabur India Ltd. Cosmetics & toilet preparations 1609.26 2101.84 0.43 0.43 2.90 3.09 310.63 397.2 19% 19% 10.14 14.47 73.74 66.33 36.55 37.82 8.51 12 15.61 14.71 17.5

7 Jyothy Laboratories Ltd. Other washing preparations 343.2 365.38 0.53 0.66 1.99 1.47 54.2 64.83 16% 18% 32.88 32.54 26.24 38.03 71.65 66.18 3.54 2.06 11.03 19.24 19.5

8 Galaxy Surfactants Ltd. Organic surface-active agents other 322.88 386.51 0.74 0.72 2.13 2.22 50.56 54 16% 14% 46.4 51.24 54.39 55.13 36.2 32.07 23.78 19.66 15.34 17.37 20.0

9 Reckitt Benckiser (India) Ltd. Soap, washing preparations, etc. 1100.67 1324.71 0.46 0.51 6.53 5.78 204.66 299.56 19% 23% 5.63 5.05 63.58 73.05 31.35 28.42 7.67 4.24 26.4 26.22 20.3

10 Henkel India Ltd. Soap 318.19 393.5 0.75 0.64 0.84 0.90 26.84 41.61 8% 11% 90.72 146.48 91.71 74.45 42.39 41.59 4.32 2.75 24.32 19.9 22.0

11 Nirma Ltd. Synthetic detergents 2150.96 2200.14 0.68 0.66 0.68 0.67 511.41 474.26 24% 22% 32.73 31.1 34.35 30.81 89.9 128.33 8.11 9.46 13.3 19.71 22.3

12 Hindustan Unilever Ltd. Cosmetics, toilet preparations, soap & 12435.57 14037.3 0.52 0.52 4.24 4.23 2318.06 2494.21 19% 18% 14.91 12.22 99.38 105.71 59.75 66.36 1.87 2.16 18.45 20.17 23.0

13 Godrej Consumer Products Ltd. Soap 753.76 892.06 0.51 0.49 2.06 1.94 169.21 195.88 22% 22% 3.85 4.47 98.87 109.55 33.68 48.14 13.73 15.97 27.7 31.52 27.9

1 Prakash Industries Ltd. Diversified 932.15 1254.82 0.66 0.66 0.73 0.86 243.47 305.17 26% 24% 30.23 26.67 18.86 19.17 42.72 33.66 0.81 0.86 9.4 7.49 15.9

2 Balmer Lawrie & Co. Ltd. Diversified 1284.33 1457.29 0.30 0.31 2.34 2.69 120.48 145.2 9% 10% 51.96 54.89 74.67 78.47 60.71 49.33 2.4 2.33 5.75 6.05 19.1

3 Sintex Industries Ltd. Diversified 1138.22 1694.41 0.71 0.67 1.19 1.10 249.73 413.62 22% 24% 54.88 70.42 89.36 77.62 16.14 13.99 16.56 18.16 15.16 12.14 21.9

4 D C M Shriram Consolidated Ltd. Diversified 2698.68 2488.24 0.81 0.92 1.25 1.17 260.45 994.87 10% 40% 59.28 51.46 108.33 53.4 31.74 35.3 2.67 2.51 50.79 72.18 22.5

cosmetics And cleAning

diversified mAnufActuring

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers54

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 57: Reinventing the Supply Chain

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 55

37 Punjab Chemicals & Crop Protection Ltd. Pesticides 321.95 459.12 0.81 0.74 2.30 2.62 32.71 76.43 10% 17% 79.84 101.38 76.3 133.41 45.18 43.77 12.01 12.49 28.72 22.53 88.0

38 India Glycols Ltd. Ethylene glycol 901.85 1327.06 0.65 0.58 0.76 0.91 141.65 345.85 16% 26% 27.09 19.82 93.39 42.49 108.77 105.24 11.83 10.66 17 8.42 88.3

39 Rallis India Ltd. Pesticides 634.26 685.7 0.62 0.67 2.71 3.12 100.49 170.33 16% 25% 79.46 75.31 125.49 74.59 54.04 55.62 6.68 5.05 47.36 39.42 88.8

40 Southern Petrochemical Inds. Corpn. Ltd. Diammonium phosphate (DAP)(18-46-0) 3308.85 1497.12 0.81 0.67 1.85 0.74 -6.13 -54.65 0% -4% 19.57 41.32 106.27 182.16 19.51 55.06 0.85 3.75 2.1 2.65 89.0

41 Sree Rayalaseema Alkalies & Allied Sodium hydroxide (Caustic Soda) 378.05 451.23 0.63 0.65 0.60 0.70 90.78 97.92 24% 22% 35.62 36.46 97.57 108.41 71.51 61.51 4.01 3.34 5.5 12.08 89.5

42 Berger Paints India Ltd. Decorative paints 1164.86 1347.26 0.66 0.63 5.72 5.37 130.26 150.29 11% 11% 34.8 36.05 58.31 53.78 43.44 44.71 6.02 6.15 37.26 37.28 90.1

43 Shalimar Paints Ltd. Decorative paints 257.72 301.66 0.67 0.61 7.70 6.96 16.14 23.84 6% 8% 71.42 75.98 93.19 101.44 40.9 40.19 8.78 8.15 40.8 39.51 90.1

44 Atul Ltd. Dyes 919.21 1028.97 0.69 0.76 2.14 1.80 90.7 103.7 10% 10% 91.25 91.93 80.18 78.14 49.49 40.76 32.06 27.99 26.03 22.21 92.1

45 Sudarshan Chemical Inds. Ltd. Pigments 385.66 397.69 0.76 0.75 3.77 3.73 26.74 33.8 7% 8% 75.8 74.43 49.38 58.53 51 43.47 12.45 12.29 30.76 32.22 93.3

46 Rashtriya Chemicals & Fertilizers Ltd. Urea 3544.22 5198.5 0.93 0.80 2.91 3.56 369.08 397.71 10% 8% 85.86 72.79 41.89 42.26 81.9 72.87 2.02 2.7 28.28 35.3 96.1

47 Saurashtra Chemicals Ltd. Sodium carbonate (Soda Ash) 151.41 312.37 0.73 0.67 0.44 0.78 -0.79 60.18 -1% 19% 71.74 44.03 114.72 72.74 297.91 172.75 7.93 6.38 13.31 9.36 96.5

48 Bilag Industries Pvt. Ltd. Pesticides & pesticide intermediates, nec 535.34 788.48 0.57 0.70 1.59 3.11 167.99 234.29 31% 30% 46.56 44.11 104.43 70.1 59.89 47.72 29.75 27.62 39.25 23.86 96.6

49 United Phosphorus Ltd. Pesticides 1510.25 1665.8 0.55 0.56 0.73 1.15 358.36 277.54 24% 17% 100.1 102.69 185.41 169.46 44.52 50.67 10.36 12.48 28.17 28.09 96.6

50 Nocil Ltd. Rubber chemicals 316.78 379.9 0.78 0.77 1.40 1.68 46.1 27.29 15% 7% 79.48 69.26 70.42 58.92 43.52 41.87 13.52 12.5 36.65 30.87 101.4

51 Syngenta India Ltd. Pesticides 850.34 1219.19 0.62 0.68 3.54 4.79 116.87 182.98 14% 15% 111.06 72.92 96.94 96.4 81.12 68.68 12.59 10.77 45.47 31.08 101.8

52 Nagarjuna Agrichem Ltd. Monocrotophos 354.86 413.44 0.62 0.64 1.52 1.71 54.42 69.69 15% 17% 62.51 51.91 85.4 77.7 56.53 58.41 8.88 10.73 45.38 26.85 102.0

53 S I Group-India Ltd. Phenol 612.14 655.33 0.89 0.82 3.26 3.35 26.28 53.82 4% 8% 56.81 60.4 62.6 63.93 66.13 62.67 13.85 12.8 15.88 19.1 102.2

54 M C C Pta India Corpn. Pvt. Ltd. Purified Terephthalic acid (PTA) 1609.4 1774.49 1.00 0.83 1.42 0.71 61.14 46.09 4% 3% 37.54 30.3 173.84 122.53 55.56 55.62 2.97 3.19 13.51 12.36 104.0

55 G H C L Ltd. Sodium carbonate (Soda Ash) 1092.08 1085.71 0.58 0.69 0.66 0.74 323.59 276.32 30% 25% 29.94 39.01 71.22 66.39 138.86 116.07 7.71 6.3 10.94 24.06 107.0

56 Godrej Industries Ltd. Organic chemicals 759.5 818.48 0.70 0.59 1.86 1.79 141.03 175.18 19% 21% 39.59 56.17 88.95 123.4 60.22 88.44 26.28 32.66 16.76 16.25 108.9

57 Madras Fertilizers Ltd. NPK mixed fertilisers 1210.54 1143.31 0.88 0.94 2.60 2.90 7.85 -14.69 1% -1% 1.85 1.99 106.77 113.34 59.12 54.15 21.31 15.29 2.02 2.88 109.5

58 Sterling Biotech Ltd. Gelatin 605.85 910.85 0.38 0.45 0.15 0.21 284.82 406.71 47% 45% 81.8 67.58 38.34 21.19 113.71 76.2 151.18 112.82 62.93 45.73 109.6

59 E I Dupont India Pvt. Ltd. Pesticides 991.22 1071.53 0.75 0.73 9.59 6.34 57.89 95.54 6% 9% 54.94 64.89 68.42 88.29 122.48 81.56 9.63 7.62 56.68 51.44 115.5

60 Ciba India Ltd. Synthetic colouring substances 515.26 474.13 0.86 0.87 11.22 9.77 102.15 39.28 20% 8% 70.38 57.18 55.28 80.57 60.58 59.47 21.02 16.06 45.28 42.36 121.1

61 Bayer Cropscience Ltd. Pesticides 744.61 1184.92 0.65 0.75 3.10 3.60 118.09 101.39 16% 9% 98.52 64.26 88.09 105.95 71.22 76.96 21.72 25.84 46.02 27.41 122.6

62 Hikal Ltd. Organic chemicals 238.42 316.37 0.63 0.62 0.71 0.63 66.12 97.71 28% 31% 67.43 60.81 100.29 95.15 121.95 136.31 71.92 75.37 76.85 53.67 131.4

63 Monsanto India Ltd. Pesticides 323.05 381.42 0.23 0.32 0.65 1.08 87.47 139.08 27% 36% 28.65 22.52 122.59 122.13 172.89 130.99 82.16 86.48 54.2 34.2 132.4

1 Procter & Gamble Hygiene & Health t & toilet preparations 575.14 541.64 0.27 0.26 1.62 1.11 201.37 143.77 35% 27% 15.51 7.47 54.54 67.39 43.71 36.68 3.95 1.27 12.19 10.7 12.0

2 Emami Ltd. Cosmetics & toilet preparations 499.82 571.91 0.38 0.38 2.32 2.37 82.91 117.65 17% 21% 28.93 24.83 34.83 37.83 41.14 42.23 1.66 1.82 17.77 16.89 14.4

3 Colgate-Palmolive (India) Ltd. Preparations for oral or dental hygiene 1338.98 1527.93 0.44 0.41 3.10 3.17 217.85 313.34 16% 21% 2.03 2.12 90.06 93.99 26.19 19.87 2.32 1.94 16.47 15.95 15.4

4 Rohit Surfactants Pvt. Ltd. Synthetic detergents 921.26 1092.52 0.85 0.82 4.48 3.19 48.73 76.67 5% 7% NA 12.13 22.56 34.04 NA 37.7 NA 2.35 NA 9.3 15.4

5 Sharp Menthol India Ltd. Essential oils 390.3 677.4 0.92 0.91 56.65 27.09 18.14 38.21 5% 6% 91.65 77.39 68.5 48.12 0.69 8.51 81.85 82.37 26.21 13.51 16.0

6 Dabur India Ltd. Cosmetics & toilet preparations 1609.26 2101.84 0.43 0.43 2.90 3.09 310.63 397.2 19% 19% 10.14 14.47 73.74 66.33 36.55 37.82 8.51 12 15.61 14.71 17.5

7 Jyothy Laboratories Ltd. Other washing preparations 343.2 365.38 0.53 0.66 1.99 1.47 54.2 64.83 16% 18% 32.88 32.54 26.24 38.03 71.65 66.18 3.54 2.06 11.03 19.24 19.5

8 Galaxy Surfactants Ltd. Organic surface-active agents other 322.88 386.51 0.74 0.72 2.13 2.22 50.56 54 16% 14% 46.4 51.24 54.39 55.13 36.2 32.07 23.78 19.66 15.34 17.37 20.0

9 Reckitt Benckiser (India) Ltd. Soap, washing preparations, etc. 1100.67 1324.71 0.46 0.51 6.53 5.78 204.66 299.56 19% 23% 5.63 5.05 63.58 73.05 31.35 28.42 7.67 4.24 26.4 26.22 20.3

10 Henkel India Ltd. Soap 318.19 393.5 0.75 0.64 0.84 0.90 26.84 41.61 8% 11% 90.72 146.48 91.71 74.45 42.39 41.59 4.32 2.75 24.32 19.9 22.0

11 Nirma Ltd. Synthetic detergents 2150.96 2200.14 0.68 0.66 0.68 0.67 511.41 474.26 24% 22% 32.73 31.1 34.35 30.81 89.9 128.33 8.11 9.46 13.3 19.71 22.3

12 Hindustan Unilever Ltd. Cosmetics, toilet preparations, soap & 12435.57 14037.3 0.52 0.52 4.24 4.23 2318.06 2494.21 19% 18% 14.91 12.22 99.38 105.71 59.75 66.36 1.87 2.16 18.45 20.17 23.0

13 Godrej Consumer Products Ltd. Soap 753.76 892.06 0.51 0.49 2.06 1.94 169.21 195.88 22% 22% 3.85 4.47 98.87 109.55 33.68 48.14 13.73 15.97 27.7 31.52 27.9

1 Prakash Industries Ltd. Diversified 932.15 1254.82 0.66 0.66 0.73 0.86 243.47 305.17 26% 24% 30.23 26.67 18.86 19.17 42.72 33.66 0.81 0.86 9.4 7.49 15.9

2 Balmer Lawrie & Co. Ltd. Diversified 1284.33 1457.29 0.30 0.31 2.34 2.69 120.48 145.2 9% 10% 51.96 54.89 74.67 78.47 60.71 49.33 2.4 2.33 5.75 6.05 19.1

3 Sintex Industries Ltd. Diversified 1138.22 1694.41 0.71 0.67 1.19 1.10 249.73 413.62 22% 24% 54.88 70.42 89.36 77.62 16.14 13.99 16.56 18.16 15.16 12.14 21.9

4 D C M Shriram Consolidated Ltd. Diversified 2698.68 2488.24 0.81 0.92 1.25 1.17 260.45 994.87 10% 40% 59.28 51.46 108.33 53.4 31.74 35.3 2.67 2.51 50.79 72.18 22.5

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gRank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

large manufacturing companies

Page 58: Reinventing the Supply Chain

5 Surya Roshni Ltd. Diversified 1097.11 1270.19 0.81 0.83 2.82 3.36 80.68 91.15 7% 7% 34.38 33.39 9.76 8.15 27.54 24.45 6.96 6.59 23.72 22.89 24.0

6 Texmaco Ltd. Diversified 433.4 838.43 0.80 0.24 2.92 0.91 51.64 117.99 12% 14% 77.75 50.34 205.98 141.11 50.41 41 15.82 11.22 2.41 1.76 24.6

7 Johnson & Johnson Ltd. Diversified 1513.88 1703.51 0.52 0.50 4.30 4.00 240.49 214.69 16% 13% 14.89 13.77 110.63 83.77 53.26 42.71 3.78 3.27 20.98 22.07 25.0

8 Orient Paper & Inds. Ltd. Diversified 1091.36 1292.58 0.45 0.42 1.39 1.02 282.14 364.05 26% 28% 33.96 31.74 66.49 55.23 66.61 65.51 8.86 9.45 4.68 4.66 25.4

9 Apar Industries Ltd. Diversified 1448.44 1688.98 0.85 0.85 7.70 13.01 113.52 163.98 8% 10% 72.38 75.95 131.37 209.89 51.17 47.76 6.22 6.28 10.57 9.88 25.9

10 Aditya Birla Nuvo Ltd. Diversified 3466.27 3942.01 0.67 0.69 1.78 1.80 652.49 689.13 19% 17% 55.66 50.95 43.89 52.76 61.5 62.05 5.6 6.13 18.71 22.1 26.0

11 Gillanders Arbuthnot & Co. Ltd. Diversified 262.3 395.72 0.67 0.71 1.91 1.30 22.69 43.09 9% 11% 29.07 27.5 58.51 69.07 53.27 49.28 4.91 5.02 16.35 16.94 27.7

12 Kesoram Industries Ltd. Diversified 2227.3 3001.66 0.48 0.43 0.98 0.74 449.52 704.6 20% 23% 31.18 27.35 50.83 54.01 70.38 65.15 6.68 8.27 11.22 11.01 28.3

13 Bhilai Engineering Corpn. Ltd. Diversified 324.83 311.95 0.39 0.40 2.35 2.17 32.4 41.47 10% 13% 79.04 88.47 106.46 110.13 47.88 59.38 32.35 40.04 24.31 19.99 29.8

14 Kores (India) Ltd. Diversified 746.32 747.87 0.87 0.81 7.47 5.26 36.76 42.21 5% 6% 49.22 57.14 89.94 96.47 35.32 37.8 20.42 26.17 27.77 28.61 32.4

15 Hindusthan Engineering & Inds. Ltd. Diversified 288.43 325.34 0.68 0.64 1.49 1.67 13.46 10.12 5% 3% 87.78 78.49 50.89 60.51 73.86 84.97 13.84 9.55 37.67 22.92 33.1

16 D C M Shriram Inds. Ltd. Diversified 621.36 595.77 0.80 0.93 2.04 2.07 34.88 36.88 6% 6% 17.26 16.76 45.53 59.11 42.46 45.71 4.83 4.83 72.89 92.7 34.2

17 Godrej & Boyce Mfg. Co. Ltd. Diversified 2792.96 3543.28 0.80 0.80 4.77 5.46 261.76 351.43 9% 10% 54.26 60.07 116.56 116.12 44.44 44.28 28.85 35.74 29.25 31.39 34.3

18 Voltas Ltd. Diversified 2521.94 3077.3 1.16 0.49 22.50 9.53 248.17 327.06 10% 11% 65.62 61.19 101.86 152.11 13.27 108.48 45.75 58.56 20.78 24.33 37.9

19 Andhra Sugars Ltd. Diversified 584.24 488.86 0.55 0.75 0.73 0.79 148.14 114.4 25% 23% 20.29 23.43 75.62 104.37 61.83 80 3.47 3.65 104.93 123.7 38.5

20 Nahar Industrial Enterprises Ltd. Diversified 908.78 883.11 0.75 0.84 1.01 1.07 193.38 144.76 21% 16% 34.96 41.35 24.75 59.69 124.82 130.86 12.64 12.96 55.04 78.67 40.5

1 Plethico Pharmaceuticals Ltd. Drug formulations 327.93 553.85 0.62 0.60 1.74 2.92 99.53 179.27 30% 32% 190.46 160.65 26.85 18.16 12.31 9.7 1.82 0.95 7.74 5.19 15.0

2 Paras Pharmaceuticals Ltd. Drug formulations 300.42 335.69 0.39 0.37 1.19 1.32 63.81 74.97 21% 22% 21.09 28.82 67.64 48.73 45.88 56.23 0.45 0.91 15.79 20.58 43.8

3 Merck Ltd. Drug formulations 354.71 349.71 0.39 0.38 3.41 3.28 173.39 106.14 49% 30% 43.15 31.34 37.36 37.17 52.46 49.09 5.9 11.89 29.74 27.41 43.9

4 Ankur Drugs & Pharma Ltd. Drug formulations 373.55 674.91 0.72 0.70 0.75 0.88 57.91 107.78 16% 16% 51.01 65.02 29.68 24.59 45.59 55.04 4.54 4.7 1.56 1.92 45.7

5 Shasun Chemicals & Drugs Ltd. Drugs, medicines & allied products 407.88 463.94 0.66 0.78 1.42 1.69 70.87 57.84 17% 12% 90.24 97.45 83.55 62.72 45.55 35.22 9.67 6.28 15.33 14.36 46.2

6 Astrazeneca Pharma India Ltd. Drug formulations 274.2 311.05 0.50 0.34 4.09 3.19 80.68 101.19 29% 33% 47.87 51.73 86.87 45.56 58.78 51.12 19.49 18.71 30.03 27.63 46.6

7 D S M Anti Infectives India Ltd. Drugs, medicines & allied products 669.1 1001.55 1.08 0.78 7.42 8.72 17.24 50.05 3% 5% 89.65 64.42 81 44.56 30.91 20.78 6.98 6.45 29.57 25.07 47.9

8 J B Chemicals & Pharmaceuticals Ltd. Drug formulations 532.46 561.82 0.41 0.36 0.98 0.86 102.35 91.95 19% 16% 190.21 204.44 58.96 41.29 54.08 64.14 12.05 8.18 30.13 28.28 48.0

9 Pfizer Ltd. Drug formulations 703.56 734.12 0.41 0.36 4.08 3.70 175.15 459.72 25% 63% 42.94 37.36 82.36 57.33 82.67 76.56 5.48 6.55 33.24 31.3 55.8

10 Wyeth Ltd. Drug formulations 299.12 344.88 0.38 0.33 2.60 2.75 117.6 124.62 39% 36% 25.02 23.29 51.18 58.83 88.99 69.5 3.13 3.99 54.17 41.89 60.1

11 Abbott India Ltd. Drug formulations 519.45 604.72 0.76 0.82 12.51 13.71 91.87 107.54 18% 18% 15.27 15.89 27.28 24.59 37.52 26.29 4.56 2.9 35.19 42.73 60.3

12 Hetero Drugs Ltd. Drugs, medicines & allied products 790.4 831.05 0.69 0.74 2.31 1.79 126.53 131.02 16% 16% NA 101.83 81.08 70.05 NA 60.52 NA 20.36 NA 16.33 60.5

13 Piramal Healthcare Ltd. Drug formulations 1628.73 1957.49 0.53 0.53 0.95 1.21 343.69 489.56 21% 25% 50.66 56.28 57.62 63.18 76.26 64.79 25.75 20.92 22.4 19.92 62.4

14 Unimark Remedies Ltd. Drug formulations 418.52 512.03 0.77 0.77 1.86 1.71 63.12 70.69 15% 14% 71.91 78.2 69.3 79.18 44.11 43.09 48.09 47.51 4.43 3.55 62.6

15 Claris Lifesciences Ltd. Drug formulations 381.24 564.4 0.38 0.35 0.50 0.49 102.25 153.03 27% 27% 75.23 128.93 182.51 172.14 49.6 69.63 10.46 10.8 37.33 28.6 62.9

16 Unichem Laboratories Ltd. Drug formulations 547.14 579.22 0.51 0.51 1.06 0.90 121.26 112.41 22% 19% 72.98 78.79 72.89 63.82 67.59 74.75 18.24 16.53 21.12 22.49 64.1

17 Alembic Ltd. Drug formulations 702.89 1000.32 0.47 0.60 0.93 1.54 123.16 183.02 18% 18% 84.15 77.68 63.24 60.99 71.65 80.01 6.05 7.31 47.51 31.23 66.3

18 Nectar Lifesciences Ltd. Drugs, medicines & allied products 447.95 748.62 0.98 0.76 1.46 1.37 100.15 149.65 22% 20% 79.16 64.78 74.09 63.85 35.55 25.37 99.61 92.81 12.33 10.96 66.5

19 Biocon Ltd. Bio-tech base drugs 866.82 897.79 0.62 0.58 0.72 0.70 241.15 515.15 28% 57% 99.76 102.34 91.69 85.54 50.02 70.35 44.99 57.26 4.21 5.1 67.1

20 U S V Ltd. Drug formulations 653.55 712.38 0.41 0.47 1.17 1.23 194.79 214.14 30% 30% 37.65 41.72 55.05 53.21 62.29 62.63 16.71 16.77 34.17 36.98 67.1

21 Glaxosmithkline Pharmaceuticals Ltd. Drug formulations 1612.22 1680.66 0.46 0.40 7.63 6.97 756.23 764.39 47% 45% 16.65 12.96 72.29 71.99 52.5 53.51 25.57 23.32 40.41 35.98 67.7

22 Surya Pharmaceutical Ltd. Antibiotics 284.63 488.85 0.92 0.91 1.84 2.32 52.37 89.72 18% 18% 74.45 55.87 52.09 72.05 40.86 45.46 126.63 123.22 0.01 0.03 68.2

23 Strides Arcolab Ltd. Drug formulations 460.46 454.02 0.59 0.63 1.36 1.33 78.38 -60.28 17% -13% 116.15 129.12 130.15 211.55 90.02 92.73 10.9 11.11 3.55 4.29 69.2

24 Elder Pharmaceuticals Ltd. Drug formulations 448.44 550.96 0.55 0.53 0.88 0.89 81.92 113.97 18% 21% 90.93 84.53 74.07 58.06 62.1 49.12 40.32 18.36 65.62 50.59 69.3

25 Aurobindo Pharma Ltd. Drug formulations 1971.03 2363 0.72 0.66 1.58 1.63 385.67 472.17 20% 20% 114.28 112.55 63.49 69.16 72.96 82.69 47.16 49.46 6.64 6.46 69.4

26 Aarti Drugs Ltd. Anti dysentery medicaments 282.89 311.52 0.75 0.81 1.29 1.46 35.62 40.42 13% 13% 83.85 93.44 56.25 76.66 54.5 47.97 34.94 29.82 17.25 20.68 69.5

27 Novartis India Ltd. Drug formulations 586 600.21 0.53 0.47 31.80 30.49 141.66 155.36 24% 26% 28.75 28.06 50.05 55.04 60.76 93.35 2.76 2.1 41.67 42.21 70.4

28 Dr. Reddy'S Laboratories Ltd. Drug formulations 4188.59 3676.3 0.34 0.45 1.50 1.34 1499.59 755.1 36% 21% 72.84 100.75 83.19 81.11 81.13 88.13 39.91 48.33 9.26 10.27 72.0

29 Aventis Pharma Ltd. Drug formulations 923.06 926.8 0.60 0.60 3.78 3.87 267.73 240.37 29% 26% 23.24 24.35 52.79 51.39 64.71 63.96 18.24 18.77 37.43 42.95 73.2

drugs And phArmAceuticAls

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers56

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 59: Reinventing the Supply Chain

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 57

5 Surya Roshni Ltd. Diversified 1097.11 1270.19 0.81 0.83 2.82 3.36 80.68 91.15 7% 7% 34.38 33.39 9.76 8.15 27.54 24.45 6.96 6.59 23.72 22.89 24.0

6 Texmaco Ltd. Diversified 433.4 838.43 0.80 0.24 2.92 0.91 51.64 117.99 12% 14% 77.75 50.34 205.98 141.11 50.41 41 15.82 11.22 2.41 1.76 24.6

7 Johnson & Johnson Ltd. Diversified 1513.88 1703.51 0.52 0.50 4.30 4.00 240.49 214.69 16% 13% 14.89 13.77 110.63 83.77 53.26 42.71 3.78 3.27 20.98 22.07 25.0

8 Orient Paper & Inds. Ltd. Diversified 1091.36 1292.58 0.45 0.42 1.39 1.02 282.14 364.05 26% 28% 33.96 31.74 66.49 55.23 66.61 65.51 8.86 9.45 4.68 4.66 25.4

9 Apar Industries Ltd. Diversified 1448.44 1688.98 0.85 0.85 7.70 13.01 113.52 163.98 8% 10% 72.38 75.95 131.37 209.89 51.17 47.76 6.22 6.28 10.57 9.88 25.9

10 Aditya Birla Nuvo Ltd. Diversified 3466.27 3942.01 0.67 0.69 1.78 1.80 652.49 689.13 19% 17% 55.66 50.95 43.89 52.76 61.5 62.05 5.6 6.13 18.71 22.1 26.0

11 Gillanders Arbuthnot & Co. Ltd. Diversified 262.3 395.72 0.67 0.71 1.91 1.30 22.69 43.09 9% 11% 29.07 27.5 58.51 69.07 53.27 49.28 4.91 5.02 16.35 16.94 27.7

12 Kesoram Industries Ltd. Diversified 2227.3 3001.66 0.48 0.43 0.98 0.74 449.52 704.6 20% 23% 31.18 27.35 50.83 54.01 70.38 65.15 6.68 8.27 11.22 11.01 28.3

13 Bhilai Engineering Corpn. Ltd. Diversified 324.83 311.95 0.39 0.40 2.35 2.17 32.4 41.47 10% 13% 79.04 88.47 106.46 110.13 47.88 59.38 32.35 40.04 24.31 19.99 29.8

14 Kores (India) Ltd. Diversified 746.32 747.87 0.87 0.81 7.47 5.26 36.76 42.21 5% 6% 49.22 57.14 89.94 96.47 35.32 37.8 20.42 26.17 27.77 28.61 32.4

15 Hindusthan Engineering & Inds. Ltd. Diversified 288.43 325.34 0.68 0.64 1.49 1.67 13.46 10.12 5% 3% 87.78 78.49 50.89 60.51 73.86 84.97 13.84 9.55 37.67 22.92 33.1

16 D C M Shriram Inds. Ltd. Diversified 621.36 595.77 0.80 0.93 2.04 2.07 34.88 36.88 6% 6% 17.26 16.76 45.53 59.11 42.46 45.71 4.83 4.83 72.89 92.7 34.2

17 Godrej & Boyce Mfg. Co. Ltd. Diversified 2792.96 3543.28 0.80 0.80 4.77 5.46 261.76 351.43 9% 10% 54.26 60.07 116.56 116.12 44.44 44.28 28.85 35.74 29.25 31.39 34.3

18 Voltas Ltd. Diversified 2521.94 3077.3 1.16 0.49 22.50 9.53 248.17 327.06 10% 11% 65.62 61.19 101.86 152.11 13.27 108.48 45.75 58.56 20.78 24.33 37.9

19 Andhra Sugars Ltd. Diversified 584.24 488.86 0.55 0.75 0.73 0.79 148.14 114.4 25% 23% 20.29 23.43 75.62 104.37 61.83 80 3.47 3.65 104.93 123.7 38.5

20 Nahar Industrial Enterprises Ltd. Diversified 908.78 883.11 0.75 0.84 1.01 1.07 193.38 144.76 21% 16% 34.96 41.35 24.75 59.69 124.82 130.86 12.64 12.96 55.04 78.67 40.5

1 Plethico Pharmaceuticals Ltd. Drug formulations 327.93 553.85 0.62 0.60 1.74 2.92 99.53 179.27 30% 32% 190.46 160.65 26.85 18.16 12.31 9.7 1.82 0.95 7.74 5.19 15.0

2 Paras Pharmaceuticals Ltd. Drug formulations 300.42 335.69 0.39 0.37 1.19 1.32 63.81 74.97 21% 22% 21.09 28.82 67.64 48.73 45.88 56.23 0.45 0.91 15.79 20.58 43.8

3 Merck Ltd. Drug formulations 354.71 349.71 0.39 0.38 3.41 3.28 173.39 106.14 49% 30% 43.15 31.34 37.36 37.17 52.46 49.09 5.9 11.89 29.74 27.41 43.9

4 Ankur Drugs & Pharma Ltd. Drug formulations 373.55 674.91 0.72 0.70 0.75 0.88 57.91 107.78 16% 16% 51.01 65.02 29.68 24.59 45.59 55.04 4.54 4.7 1.56 1.92 45.7

5 Shasun Chemicals & Drugs Ltd. Drugs, medicines & allied products 407.88 463.94 0.66 0.78 1.42 1.69 70.87 57.84 17% 12% 90.24 97.45 83.55 62.72 45.55 35.22 9.67 6.28 15.33 14.36 46.2

6 Astrazeneca Pharma India Ltd. Drug formulations 274.2 311.05 0.50 0.34 4.09 3.19 80.68 101.19 29% 33% 47.87 51.73 86.87 45.56 58.78 51.12 19.49 18.71 30.03 27.63 46.6

7 D S M Anti Infectives India Ltd. Drugs, medicines & allied products 669.1 1001.55 1.08 0.78 7.42 8.72 17.24 50.05 3% 5% 89.65 64.42 81 44.56 30.91 20.78 6.98 6.45 29.57 25.07 47.9

8 J B Chemicals & Pharmaceuticals Ltd. Drug formulations 532.46 561.82 0.41 0.36 0.98 0.86 102.35 91.95 19% 16% 190.21 204.44 58.96 41.29 54.08 64.14 12.05 8.18 30.13 28.28 48.0

9 Pfizer Ltd. Drug formulations 703.56 734.12 0.41 0.36 4.08 3.70 175.15 459.72 25% 63% 42.94 37.36 82.36 57.33 82.67 76.56 5.48 6.55 33.24 31.3 55.8

10 Wyeth Ltd. Drug formulations 299.12 344.88 0.38 0.33 2.60 2.75 117.6 124.62 39% 36% 25.02 23.29 51.18 58.83 88.99 69.5 3.13 3.99 54.17 41.89 60.1

11 Abbott India Ltd. Drug formulations 519.45 604.72 0.76 0.82 12.51 13.71 91.87 107.54 18% 18% 15.27 15.89 27.28 24.59 37.52 26.29 4.56 2.9 35.19 42.73 60.3

12 Hetero Drugs Ltd. Drugs, medicines & allied products 790.4 831.05 0.69 0.74 2.31 1.79 126.53 131.02 16% 16% NA 101.83 81.08 70.05 NA 60.52 NA 20.36 NA 16.33 60.5

13 Piramal Healthcare Ltd. Drug formulations 1628.73 1957.49 0.53 0.53 0.95 1.21 343.69 489.56 21% 25% 50.66 56.28 57.62 63.18 76.26 64.79 25.75 20.92 22.4 19.92 62.4

14 Unimark Remedies Ltd. Drug formulations 418.52 512.03 0.77 0.77 1.86 1.71 63.12 70.69 15% 14% 71.91 78.2 69.3 79.18 44.11 43.09 48.09 47.51 4.43 3.55 62.6

15 Claris Lifesciences Ltd. Drug formulations 381.24 564.4 0.38 0.35 0.50 0.49 102.25 153.03 27% 27% 75.23 128.93 182.51 172.14 49.6 69.63 10.46 10.8 37.33 28.6 62.9

16 Unichem Laboratories Ltd. Drug formulations 547.14 579.22 0.51 0.51 1.06 0.90 121.26 112.41 22% 19% 72.98 78.79 72.89 63.82 67.59 74.75 18.24 16.53 21.12 22.49 64.1

17 Alembic Ltd. Drug formulations 702.89 1000.32 0.47 0.60 0.93 1.54 123.16 183.02 18% 18% 84.15 77.68 63.24 60.99 71.65 80.01 6.05 7.31 47.51 31.23 66.3

18 Nectar Lifesciences Ltd. Drugs, medicines & allied products 447.95 748.62 0.98 0.76 1.46 1.37 100.15 149.65 22% 20% 79.16 64.78 74.09 63.85 35.55 25.37 99.61 92.81 12.33 10.96 66.5

19 Biocon Ltd. Bio-tech base drugs 866.82 897.79 0.62 0.58 0.72 0.70 241.15 515.15 28% 57% 99.76 102.34 91.69 85.54 50.02 70.35 44.99 57.26 4.21 5.1 67.1

20 U S V Ltd. Drug formulations 653.55 712.38 0.41 0.47 1.17 1.23 194.79 214.14 30% 30% 37.65 41.72 55.05 53.21 62.29 62.63 16.71 16.77 34.17 36.98 67.1

21 Glaxosmithkline Pharmaceuticals Ltd. Drug formulations 1612.22 1680.66 0.46 0.40 7.63 6.97 756.23 764.39 47% 45% 16.65 12.96 72.29 71.99 52.5 53.51 25.57 23.32 40.41 35.98 67.7

22 Surya Pharmaceutical Ltd. Antibiotics 284.63 488.85 0.92 0.91 1.84 2.32 52.37 89.72 18% 18% 74.45 55.87 52.09 72.05 40.86 45.46 126.63 123.22 0.01 0.03 68.2

23 Strides Arcolab Ltd. Drug formulations 460.46 454.02 0.59 0.63 1.36 1.33 78.38 -60.28 17% -13% 116.15 129.12 130.15 211.55 90.02 92.73 10.9 11.11 3.55 4.29 69.2

24 Elder Pharmaceuticals Ltd. Drug formulations 448.44 550.96 0.55 0.53 0.88 0.89 81.92 113.97 18% 21% 90.93 84.53 74.07 58.06 62.1 49.12 40.32 18.36 65.62 50.59 69.3

25 Aurobindo Pharma Ltd. Drug formulations 1971.03 2363 0.72 0.66 1.58 1.63 385.67 472.17 20% 20% 114.28 112.55 63.49 69.16 72.96 82.69 47.16 49.46 6.64 6.46 69.4

26 Aarti Drugs Ltd. Anti dysentery medicaments 282.89 311.52 0.75 0.81 1.29 1.46 35.62 40.42 13% 13% 83.85 93.44 56.25 76.66 54.5 47.97 34.94 29.82 17.25 20.68 69.5

27 Novartis India Ltd. Drug formulations 586 600.21 0.53 0.47 31.80 30.49 141.66 155.36 24% 26% 28.75 28.06 50.05 55.04 60.76 93.35 2.76 2.1 41.67 42.21 70.4

28 Dr. Reddy'S Laboratories Ltd. Drug formulations 4188.59 3676.3 0.34 0.45 1.50 1.34 1499.59 755.1 36% 21% 72.84 100.75 83.19 81.11 81.13 88.13 39.91 48.33 9.26 10.27 72.0

29 Aventis Pharma Ltd. Drug formulations 923.06 926.8 0.60 0.60 3.78 3.87 267.73 240.37 29% 26% 23.24 24.35 52.79 51.39 64.71 63.96 18.24 18.77 37.43 42.95 73.2

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

large manufacturing companies

Page 60: Reinventing the Supply Chain

30 F D C Ltd. Drug formulations 432.28 502.51 0.60 0.51 1.32 1.17 91.71 89.2 21% 18% 17.68 14.78 51.23 56.48 34.14 41.42 14.57 15.88 52.74 50.94 73.8

31 Sun Pharmaceutical Inds. Ltd. Drug formulations 2310.11 3211.51 0.57 0.51 2.12 2.48 695.61 1112.02 30% 35% 88.09 122.99 96.78 117.58 92.36 97.31 58.87 58.54 14.78 13.43 75.0

32 Lupin Ltd. Drug formulations 2003.03 2585.76 0.58 0.62 1.45 1.71 476.13 648.14 24% 25% 73.93 76.54 72.54 64.44 76.41 73 24.85 32.49 24.36 31.24 76.5

33 Glenmark Pharmaceuticals Ltd. Drug formulations 799.59 1355.12 0.50 0.41 0.92 0.95 251.76 539 31% 40% 156.88 134.59 75.79 92.75 120.43 96.87 56.78 51.21 25.49 23.66 77.3

34 Macleods Pharmaceuticals Ltd. Drug formulations 403.17 521.85 0.70 0.62 1.83 1.69 69.26 74.53 17% 14% 31.53 40.23 66.75 67.82 74.53 69.02 7.22 7.53 30.98 36.1 77.8

35 Ipca Laboratories Ltd. Drug formulations 936.38 1111.01 0.54 0.53 1.17 1.09 198.56 231.64 21% 21% 59.83 72.62 51.69 50.85 93.9 90.99 22.55 25.07 34.46 33.74 80.1

36 Dishman Pharmaceuticals & Chemicals Ltd. Drug formulations 289.72 361.65 0.66 0.69 0.76 0.68 86.87 101.81 30% 28% 129.01 106.9 142.41 74.42 89.73 80.07 157.22 154.81 12.47 15.42 80.3

37 Intas Pharmaceuticals Ltd. Drug formulations 772.92 990.58 0.63 0.62 2.77 2.90 99.44 131.9 13% 13% 46.24 49.7 57.72 51.23 107.57 82.84 25.28 15.24 40.01 37.42 80.3

38 Panacea Biotec Ltd. Drug formulations 865.08 862.83 0.51 0.53 1.07 0.86 260.09 245.27 30% 28% 37.1 52.75 84.96 63.47 111.07 140.02 3.1 4.56 41.5 36.78 81.6

39 Divi'S Laboratories Ltd. Drugs, medicines & allied products 733.68 1038.31 0.54 0.55 0.94 1.02 257.8 446.25 35% 43% 67.03 66.09 96.65 89.68 84.29 81.63 87.15 64.31 15.09 24.1 83.5

40 Arch Pharmalabs Ltd. Drugs, medicines & allied products 362.99 514.65 0.80 0.83 1.51 1.57 77.1 98.39 21% 19% 100.69 102.04 67.95 65.04 113.55 107.95 27.5 24.01 26.55 29.44 83.5

41 Matrix Laboratories Ltd. Drugs, medicines & allied products 771.41 967.97 0.58 0.65 0.97 1.06 151.48 -207.17 20% -21% 99.03 83.65 138.85 105.07 83.58 70.86 82.44 89.51 6.56 5.42 84.1

42 Ind-Swift Ltd. Drug formulations 377.52 513.73 1.08 0.88 2.22 1.90 54.3 80.99 14% 16% 108.36 98.14 80.77 89.78 62.86 58.96 15.29 21.17 61.31 79.23 85.2

43 Wockhardt Ltd. Drug formulations 1184.15 1292.01 0.50 0.60 0.85 0.86 318 344.5 27% 27% 87.04 108.73 95.16 90.69 89.17 85.64 24.42 29.6 29.43 32.56 85.4

44 Cipla Ltd. Drug formulations 3619.31 4284.26 0.43 0.46 1.07 1.04 918.3 965.96 25% 23% 95.37 103.41 64.71 90.19 136.21 127.07 28.65 25.63 39.79 32.54 86.1

45 Cadila Healthcare Ltd. Drug formulations 1514.4 1755.5 0.49 0.43 0.93 0.86 324.77 389.6 21% 22% 50.9 54.79 100.72 67.06 79.2 92.23 40.6 42.44 31.31 30.88 87.5

46 Torrent Pharmaceuticals Ltd. Drug formulations 894.74 1002.38 0.51 0.40 1.03 0.75 181.23 228.11 20% 23% 57.23 67.33 67.44 88.05 92.46 82.96 30.84 30.8 33.91 33.3 89.1

47 Emcure Pharmaceuticals Ltd. Drug formulations 437.06 462.75 0.56 0.54 0.97 0.67 99.63 79.83 23% 17% 58.69 78.47 62.55 80.29 66.02 104.9 13.07 20.55 23.35 30.87 89.5

48 Cadila Pharmaceuticals Ltd. Drug formulations 532.01 541.43 0.57 0.48 1.05 0.79 84.52 87.48 16% 16% NA 70.46 126.87 107.11 NA 65.55 NA 29.54 NA 37.86 92.2

49 Ranbaxy Laboratories Ltd. Drug formulations 3545.59 4108.51 0.41 0.39 0.85 0.89 655.9 1063.27 18% 26% 93.68 96.57 85.3 90.02 158.95 146.63 48.95 50.89 37.62 34.76 95.5

50 Ind-Swift Laboratories Ltd. Drugs, medicines & allied products 346.32 454.84 0.74 0.76 0.67 0.74 67.23 89.45 19% 20% 77.58 73.64 77.96 94.32 103.15 95.3 151.8 157.15 6.2 7.14 96.4

51 Orchid Chemicals & Pharmaceuticals Ltd. Drug formulations 935.24 1309.32 0.61 0.45 0.37 0.29 317.61 457.52 34% 35% 141.71 134.17 97.86 118.04 116.28 127.3 253.83 218.04 30.08 32.9 97.8

1 Unitech Machines Ltd. Electric signalling apparatus 316.9 353.5 0.29 0.28 1.39 1.08 46.5 50.53 15% 14% 59.34 81.28 69.89 80.44 19.51 32.76 2.9 5.58 4.69 3.34 17.1

2 Esab India Ltd. Welding electrodes / sticks / wires / 292.04 346.11 0.64 0.68 3.36 3.50 69.95 86.54 24% 25% 9.34 10.17 66.12 55.99 27.07 30.25 3.97 4.28 17.28 15.18 21.1

3 Lloyd Electric & Engineering Ltd. Accessories of air conditioners & 496.19 669.71 0.86 0.85 2.88 2.93 65.2 81.31 13% 12% 67.87 73.55 34.18 34.04 47.88 53.25 0.97 1.23 9.82 9.65 21.5

4 H B L Power Systems Ltd. Nickel-cadmium accumulators 511.18 969.89 0.71 0.80 1.63 2.70 73.3 149.55 14% 15% 96.92 72.11 66.19 50.45 51.08 35.3 23.45 24.89 1.87 2.54 22.8

5 Amara Raja Batteries Ltd. Storage batteries 602.04 1102.72 0.73 0.79 2.71 3.28 90.87 184.47 15% 17% 57.75 50.55 39.52 30.02 33.93 31.31 21.61 21.39 6.44 8.1 23.1

6 Usha International Ltd. Fans 122.89 709.93 0.72 0.72 13.24 13.12 5.14 29.76 4% 4% 28.28 27.02 103.85 73.76 14.15 14.68 17.63 11.68 31.16 20.96 24.8

7 Fedders Lloyd Corpn. Ltd. Air conditioning machines / systems 278.29 348.21 0.95 0.98 8.25 6.01 18.32 29.22 7% 8% 54.37 59.12 17.34 23.53 22.48 19.84 18.12 19.78 16.44 20.68 24.9

8 Blue Star Ltd. Air conditioning machines / systems 1599.28 2261.47 0.84 0.81 11.51 11.81 123.05 269.73 8% 12% 68.02 69.11 104.63 115.22 24.58 26.15 30.38 26.21 8.82 11.64 27.0

9 Whirlpool Of India Ltd. Refrigerators, freezers, etc. 1495.06 1805.14 0.69 0.71 3.36 3.92 44.07 80.4 3% 4% 27.12 25.61 85.74 94.02 18.55 24.64 1.56 2.37 40.19 44.55 27.2

10 Exide Industries Ltd. Storage batteries 1888.18 2883.68 0.77 0.77 2.93 3.67 310.16 486.11 16% 17% 23.24 20.62 53.64 52.08 43.25 40.49 17.51 17.75 18.73 17.78 27.5

11 Carrier Airconditioning & Refrigera- Window/split airconditioners 588.87 760.84 0.66 0.64 11.13 10.45 43.27 65.93 7% 9% 36.59 55.71 103.13 95.41 39.97 56.17 1.22 2.38 16.4 26.94 27.6

12 I F B Industries Ltd. Washing machines 327.07 426.27 0.56 0.60 2.12 3.59 49.12 46.92 15% 11% 23.98 20.62 87.16 90.25 37.6 39.97 11.52 11.49 16.43 20.03 28.6

13 Value Industries Ltd. Domestic appliances 1122.66 1302.94 0.86 0.84 1.81 1.39 117 177.91 10% 14% 82.74 80.56 36.92 48.4 71.26 74.72 29.94 27.4 3.38 2.89 30.3

14 Ajanta Manufacturing Ltd. Storage batteries 319.08 474.88 0.74 0.78 0.99 1.56 55.2 106.4 17% 22% 7.14 30.68 17.79 32.53 100.43 87.76 9.11 8.31 22.24 24.63 30.8

15 T T K Prestige Ltd. Cookers 280.71 326.74 0.67 0.61 5.24 3.52 25.68 35.98 9% 11% 42.95 47.61 70.35 70.92 46.29 41.54 12.16 8.62 50.83 48.44 30.9

16 Inductotherm (India) Pvt. Ltd. Industrial furnaces & ovens 261.18 308.57 0.58 0.56 5.54 6.45 93.05 106.68 36% 35% 40.84 52.19 108.82 112.6 71.41 76.43 45.8 39.36 5.83 5.37 31.9

17 Bajaj Electricals Ltd. Electric appliances 1088 1384.63 0.79 0.81 9.38 10.27 92.86 152.62 9% 11% 105.4 103.06 106.12 102.15 53.13 62.98 12.09 15.59 27.45 28.34 32.8

18 Hitachi Home & Life Solutions (India) Ltd. Window/split airconditioners 325.53 449.46 0.76 0.72 8.08 7.87 28.13 58.27 9% 13% 56.13 55.18 123.79 141.87 56.3 67.85 8.93 9.06 53.63 36.73 34.8

19 Khaitan Electricals Ltd. Fans 289.53 329.25 0.77 0.84 11.51 12.62 22.82 30.75 8% 9% 124.12 168.78 122.34 137 44.43 60.54 35.83 33.96 52.8 69.16 40.0

20 Eveready Industries (India) Ltd. Dry cells 768.48 844.34 0.66 0.79 0.56 0.73 47.07 75.46 6% 9% 19.58 17.54 63.97 99.78 52.32 49.98 31.07 26.83 35.65 31.96 42.3

1 X L Telecom & Energy Ltd. Cordless phone 399.07 525.19 0.91 0.89 17.26 17.41 21.52 33.53 5% 6% 61.9 93.22 21.59 36.36 22.89 25.09 3.24 2.96 0.48 1.41 16.6

2 P C S Technology Ltd. Computer systems 419.07 325.53 0.86 0.82 14.06 10.77 17.94 16.84 4% 5% 113.53 145.03 60.39 97.23 24.54 21.6 1.43 1.81 4.79 3.45 21.8

electricAl mAchinery

electronics

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers58

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 61: Reinventing the Supply Chain

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 59

30 F D C Ltd. Drug formulations 432.28 502.51 0.60 0.51 1.32 1.17 91.71 89.2 21% 18% 17.68 14.78 51.23 56.48 34.14 41.42 14.57 15.88 52.74 50.94 73.8

31 Sun Pharmaceutical Inds. Ltd. Drug formulations 2310.11 3211.51 0.57 0.51 2.12 2.48 695.61 1112.02 30% 35% 88.09 122.99 96.78 117.58 92.36 97.31 58.87 58.54 14.78 13.43 75.0

32 Lupin Ltd. Drug formulations 2003.03 2585.76 0.58 0.62 1.45 1.71 476.13 648.14 24% 25% 73.93 76.54 72.54 64.44 76.41 73 24.85 32.49 24.36 31.24 76.5

33 Glenmark Pharmaceuticals Ltd. Drug formulations 799.59 1355.12 0.50 0.41 0.92 0.95 251.76 539 31% 40% 156.88 134.59 75.79 92.75 120.43 96.87 56.78 51.21 25.49 23.66 77.3

34 Macleods Pharmaceuticals Ltd. Drug formulations 403.17 521.85 0.70 0.62 1.83 1.69 69.26 74.53 17% 14% 31.53 40.23 66.75 67.82 74.53 69.02 7.22 7.53 30.98 36.1 77.8

35 Ipca Laboratories Ltd. Drug formulations 936.38 1111.01 0.54 0.53 1.17 1.09 198.56 231.64 21% 21% 59.83 72.62 51.69 50.85 93.9 90.99 22.55 25.07 34.46 33.74 80.1

36 Dishman Pharmaceuticals & Chemicals Ltd. Drug formulations 289.72 361.65 0.66 0.69 0.76 0.68 86.87 101.81 30% 28% 129.01 106.9 142.41 74.42 89.73 80.07 157.22 154.81 12.47 15.42 80.3

37 Intas Pharmaceuticals Ltd. Drug formulations 772.92 990.58 0.63 0.62 2.77 2.90 99.44 131.9 13% 13% 46.24 49.7 57.72 51.23 107.57 82.84 25.28 15.24 40.01 37.42 80.3

38 Panacea Biotec Ltd. Drug formulations 865.08 862.83 0.51 0.53 1.07 0.86 260.09 245.27 30% 28% 37.1 52.75 84.96 63.47 111.07 140.02 3.1 4.56 41.5 36.78 81.6

39 Divi'S Laboratories Ltd. Drugs, medicines & allied products 733.68 1038.31 0.54 0.55 0.94 1.02 257.8 446.25 35% 43% 67.03 66.09 96.65 89.68 84.29 81.63 87.15 64.31 15.09 24.1 83.5

40 Arch Pharmalabs Ltd. Drugs, medicines & allied products 362.99 514.65 0.80 0.83 1.51 1.57 77.1 98.39 21% 19% 100.69 102.04 67.95 65.04 113.55 107.95 27.5 24.01 26.55 29.44 83.5

41 Matrix Laboratories Ltd. Drugs, medicines & allied products 771.41 967.97 0.58 0.65 0.97 1.06 151.48 -207.17 20% -21% 99.03 83.65 138.85 105.07 83.58 70.86 82.44 89.51 6.56 5.42 84.1

42 Ind-Swift Ltd. Drug formulations 377.52 513.73 1.08 0.88 2.22 1.90 54.3 80.99 14% 16% 108.36 98.14 80.77 89.78 62.86 58.96 15.29 21.17 61.31 79.23 85.2

43 Wockhardt Ltd. Drug formulations 1184.15 1292.01 0.50 0.60 0.85 0.86 318 344.5 27% 27% 87.04 108.73 95.16 90.69 89.17 85.64 24.42 29.6 29.43 32.56 85.4

44 Cipla Ltd. Drug formulations 3619.31 4284.26 0.43 0.46 1.07 1.04 918.3 965.96 25% 23% 95.37 103.41 64.71 90.19 136.21 127.07 28.65 25.63 39.79 32.54 86.1

45 Cadila Healthcare Ltd. Drug formulations 1514.4 1755.5 0.49 0.43 0.93 0.86 324.77 389.6 21% 22% 50.9 54.79 100.72 67.06 79.2 92.23 40.6 42.44 31.31 30.88 87.5

46 Torrent Pharmaceuticals Ltd. Drug formulations 894.74 1002.38 0.51 0.40 1.03 0.75 181.23 228.11 20% 23% 57.23 67.33 67.44 88.05 92.46 82.96 30.84 30.8 33.91 33.3 89.1

47 Emcure Pharmaceuticals Ltd. Drug formulations 437.06 462.75 0.56 0.54 0.97 0.67 99.63 79.83 23% 17% 58.69 78.47 62.55 80.29 66.02 104.9 13.07 20.55 23.35 30.87 89.5

48 Cadila Pharmaceuticals Ltd. Drug formulations 532.01 541.43 0.57 0.48 1.05 0.79 84.52 87.48 16% 16% NA 70.46 126.87 107.11 NA 65.55 NA 29.54 NA 37.86 92.2

49 Ranbaxy Laboratories Ltd. Drug formulations 3545.59 4108.51 0.41 0.39 0.85 0.89 655.9 1063.27 18% 26% 93.68 96.57 85.3 90.02 158.95 146.63 48.95 50.89 37.62 34.76 95.5

50 Ind-Swift Laboratories Ltd. Drugs, medicines & allied products 346.32 454.84 0.74 0.76 0.67 0.74 67.23 89.45 19% 20% 77.58 73.64 77.96 94.32 103.15 95.3 151.8 157.15 6.2 7.14 96.4

51 Orchid Chemicals & Pharmaceuticals Ltd. Drug formulations 935.24 1309.32 0.61 0.45 0.37 0.29 317.61 457.52 34% 35% 141.71 134.17 97.86 118.04 116.28 127.3 253.83 218.04 30.08 32.9 97.8

1 Unitech Machines Ltd. Electric signalling apparatus 316.9 353.5 0.29 0.28 1.39 1.08 46.5 50.53 15% 14% 59.34 81.28 69.89 80.44 19.51 32.76 2.9 5.58 4.69 3.34 17.1

2 Esab India Ltd. Welding electrodes / sticks / wires / 292.04 346.11 0.64 0.68 3.36 3.50 69.95 86.54 24% 25% 9.34 10.17 66.12 55.99 27.07 30.25 3.97 4.28 17.28 15.18 21.1

3 Lloyd Electric & Engineering Ltd. Accessories of air conditioners & 496.19 669.71 0.86 0.85 2.88 2.93 65.2 81.31 13% 12% 67.87 73.55 34.18 34.04 47.88 53.25 0.97 1.23 9.82 9.65 21.5

4 H B L Power Systems Ltd. Nickel-cadmium accumulators 511.18 969.89 0.71 0.80 1.63 2.70 73.3 149.55 14% 15% 96.92 72.11 66.19 50.45 51.08 35.3 23.45 24.89 1.87 2.54 22.8

5 Amara Raja Batteries Ltd. Storage batteries 602.04 1102.72 0.73 0.79 2.71 3.28 90.87 184.47 15% 17% 57.75 50.55 39.52 30.02 33.93 31.31 21.61 21.39 6.44 8.1 23.1

6 Usha International Ltd. Fans 122.89 709.93 0.72 0.72 13.24 13.12 5.14 29.76 4% 4% 28.28 27.02 103.85 73.76 14.15 14.68 17.63 11.68 31.16 20.96 24.8

7 Fedders Lloyd Corpn. Ltd. Air conditioning machines / systems 278.29 348.21 0.95 0.98 8.25 6.01 18.32 29.22 7% 8% 54.37 59.12 17.34 23.53 22.48 19.84 18.12 19.78 16.44 20.68 24.9

8 Blue Star Ltd. Air conditioning machines / systems 1599.28 2261.47 0.84 0.81 11.51 11.81 123.05 269.73 8% 12% 68.02 69.11 104.63 115.22 24.58 26.15 30.38 26.21 8.82 11.64 27.0

9 Whirlpool Of India Ltd. Refrigerators, freezers, etc. 1495.06 1805.14 0.69 0.71 3.36 3.92 44.07 80.4 3% 4% 27.12 25.61 85.74 94.02 18.55 24.64 1.56 2.37 40.19 44.55 27.2

10 Exide Industries Ltd. Storage batteries 1888.18 2883.68 0.77 0.77 2.93 3.67 310.16 486.11 16% 17% 23.24 20.62 53.64 52.08 43.25 40.49 17.51 17.75 18.73 17.78 27.5

11 Carrier Airconditioning & Refrigera- Window/split airconditioners 588.87 760.84 0.66 0.64 11.13 10.45 43.27 65.93 7% 9% 36.59 55.71 103.13 95.41 39.97 56.17 1.22 2.38 16.4 26.94 27.6

12 I F B Industries Ltd. Washing machines 327.07 426.27 0.56 0.60 2.12 3.59 49.12 46.92 15% 11% 23.98 20.62 87.16 90.25 37.6 39.97 11.52 11.49 16.43 20.03 28.6

13 Value Industries Ltd. Domestic appliances 1122.66 1302.94 0.86 0.84 1.81 1.39 117 177.91 10% 14% 82.74 80.56 36.92 48.4 71.26 74.72 29.94 27.4 3.38 2.89 30.3

14 Ajanta Manufacturing Ltd. Storage batteries 319.08 474.88 0.74 0.78 0.99 1.56 55.2 106.4 17% 22% 7.14 30.68 17.79 32.53 100.43 87.76 9.11 8.31 22.24 24.63 30.8

15 T T K Prestige Ltd. Cookers 280.71 326.74 0.67 0.61 5.24 3.52 25.68 35.98 9% 11% 42.95 47.61 70.35 70.92 46.29 41.54 12.16 8.62 50.83 48.44 30.9

16 Inductotherm (India) Pvt. Ltd. Industrial furnaces & ovens 261.18 308.57 0.58 0.56 5.54 6.45 93.05 106.68 36% 35% 40.84 52.19 108.82 112.6 71.41 76.43 45.8 39.36 5.83 5.37 31.9

17 Bajaj Electricals Ltd. Electric appliances 1088 1384.63 0.79 0.81 9.38 10.27 92.86 152.62 9% 11% 105.4 103.06 106.12 102.15 53.13 62.98 12.09 15.59 27.45 28.34 32.8

18 Hitachi Home & Life Solutions (India) Ltd. Window/split airconditioners 325.53 449.46 0.76 0.72 8.08 7.87 28.13 58.27 9% 13% 56.13 55.18 123.79 141.87 56.3 67.85 8.93 9.06 53.63 36.73 34.8

19 Khaitan Electricals Ltd. Fans 289.53 329.25 0.77 0.84 11.51 12.62 22.82 30.75 8% 9% 124.12 168.78 122.34 137 44.43 60.54 35.83 33.96 52.8 69.16 40.0

20 Eveready Industries (India) Ltd. Dry cells 768.48 844.34 0.66 0.79 0.56 0.73 47.07 75.46 6% 9% 19.58 17.54 63.97 99.78 52.32 49.98 31.07 26.83 35.65 31.96 42.3

1 X L Telecom & Energy Ltd. Cordless phone 399.07 525.19 0.91 0.89 17.26 17.41 21.52 33.53 5% 6% 61.9 93.22 21.59 36.36 22.89 25.09 3.24 2.96 0.48 1.41 16.6

2 P C S Technology Ltd. Computer systems 419.07 325.53 0.86 0.82 14.06 10.77 17.94 16.84 4% 5% 113.53 145.03 60.39 97.23 24.54 21.6 1.43 1.81 4.79 3.45 21.8

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

large manufacturing companies

Page 62: Reinventing the Supply Chain

3 Opto Circuits (India) Ltd. Medical equipment 203.95 340.09 0.57 0.60 3.28 5.19 78.72 140.45 39% 41% 183.72 182.89 59.49 17.39 103.34 94.23 11.27 8.87 1.63 3.35 24.9

4 yokogawa India Ltd. Process control equipment 316.67 368.7 0.69 0.76 4.58 6.61 34.86 34.69 11% 9% 108.46 108.98 122.51 138.02 29.04 33.61 0.46 0.43 6.98 9.69 25.0

5 Electronics Corporation Of India Ltd. VHF radio systems 921.14 960.01 0.66 0.66 7.94 8.09 209.65 233.68 23% 24% 336.15 423.95 378.6 426.27 24.34 28.17 21.15 17.47 2.79 2.81 25.2

6 Honeywell Automation India Ltd. Process control equipment 643.85 866.88 0.72 0.74 8.78 10.56 87.75 103.91 14% 12% 105.79 95.28 129.1 117.36 22.17 17.33 33.7 41.34 3.36 3.37 28.3

7 C M S Computers Ltd. Computer peripherals 512.26 504.08 0.68 0.57 3.88 2.52 45.55 36.13 9% 7% 83.73 99.17 81.91 88.88 92.99 119.04 0.06 0.18 5.19 5.15 29.9

8 H C L Infosystems Ltd. Mini/micro computers 2309.97 11673.7 0.88 0.97 25.61 94.25 153.13 463.99 7% 4% 67.61 23.39 87.45 42.93 30.9 36.08 1.89 0.86 16.47 11.97 30.0

9 Tata B P Solar (India) Ltd. Solar appliances 668.59 923.27 0.83 0.84 3.90 1.87 62.68 71.56 9% 8% 60.71 72.35 55.81 145.82 42.6 43.34 9.92 7.16 0.83 0.33 30.3

10 Solectron E M S India Ltd. Other electronic components 109.32 317.8 0.85 0.91 2.58 9.36 9.51 23.6 9% 7% NA 57.14 162.9 59.31 NA 45.6 NA 8.96 NA 2.59 30.8

11 L G Electronics India Pvt. Ltd. Television receivers, colour 8178.57 8813.67 0.72 0.73 13.79 15.22 364.59 473.24 4% 5% NA 23.72 39.37 45.66 NA 45.49 NA 0.57 NA 23.88 31.6

12 Videocon Industries Ltd. Television receivers 6456.58 7669.57 0.70 0.67 0.91 0.96 1516.27 1957.08 23% 26% 51.83 52.61 42.3 39.76 64.66 69.43 5.99 6.44 14.33 15.44 33.4

13 Bharti Teletech Ltd. Electronic telephones 2451.43 1552.47 1.24 0.41 72.00 37.19 52.03 38.3 2% 2% 12.63 22.76 74.26 60.83 19.23 36 3.2 4.65 48.55 73.32 33.8

14 Luminous Power Technologies Pvt. Ltd. Batteries incl. Ni-Cd batteries 282.36 475.3 0.66 0.71 5.81 8.86 33.68 75.16 12% 16% NA 89.15 109.6 92.03 NA 40.79 NA 24.57 NA 11.14 33.8

15 Numeric Power Systems Ltd. Uninterupted power supplies 272.87 388.78 0.83 0.70 7.89 7.22 27.76 51.84 10% 13% 91.26 75.95 62.91 63.43 48.69 55.08 9.41 7.02 26.08 23.17 34.6

16 Trend Electronics Ltd. Television receivers 775.56 833.17 0.92 0.94 4.79 5.67 31.9 30.46 4% 4% 61.91 56.51 44.77 47.33 48.1 49.67 9.75 9.17 4.09 4.25 37.4

17 Philips Electronics India Ltd. Consumer electronics 2582 2857.3 0.65 0.69 6.35 7.33 367.6 348.3 14% 12% 45.78 39.09 72.58 79.05 52.61 41.59 6.97 14.15 22.27 22.61 37.9

18 Bharat Electronics Ltd. Electronics 4028.11 4250.05 0.63 0.61 6.08 5.74 1133.58 1281.4 28% 30% 147.78 193.51 348.85 373.68 193.74 207.85 66.9 63.88 6.18 6.79 40.4

19 Mirc Electronics Ltd. Television receivers, colour 1509.7 1526.54 0.83 0.87 6.07 6.94 90.77 87.24 6% 6% 25.33 27.49 54.07 53.68 44.16 49.83 8.63 8.63 25.67 36.07 41.9

20 Xerox India Ltd. Electronic paper copiers 498.4 559.18 0.80 0.83 12.44 12.19 30.5 41.09 6% 7% 66.32 58.5 63.95 62.45 153.47 254.2 7.76 8.37 52.39 58.1 44.2

21 Smartlink Network Systems Ltd. Computer peripherals 289.15 303 0.77 0.75 3.44 3.73 35.59 46.17 12% 15% 69.53 67.66 45.46 64 54.51 103.17 7.09 13.42 26.22 24.86 44.3

22 Moser Baer India Ltd. Magnetic media 2046.07 1970.88 0.53 0.54 0.39 0.38 598.28 529.96 29% 27% 64.32 63.09 87.7 80.47 82.03 85.3 25.91 45.54 35.55 40.03 46.4

23 J C T Electronics Ltd. TV picture tubes colour 290.95 339.32 1.04 0.95 0.78 0.86 523.97 -18.72 180% -6% 30.02 15.95 294.49 279.76 46.76 52.45 10.52 8.69 11.07 9.98 48.3

24 I T I Ltd. Switching systems 1781.36 1205.2 0.93 0.98 0.61 0.44 -216 -422.07 -12% -35% 338.47 529.75 377.92 490.71 176.22 193.52 42.43 37.3 13.4 18.12 52.3

25 Bharat Dynamics Ltd. Defence communication equipment 464.65 568.34 0.75 0.89 3.73 5.03 61.47 82.45 13% 15% NA 16.44 1105.42 965.29 NA 261.07 NA 81.13 NA 7.69 54.4

1 Sujana Universal Inds. Ltd. Cast iron castings 891.67 912.77 0.84 0.96 4.19 4.50 92.07 74.08 10% 8% 88.81 106.47 32.88 41.4 120.38 3.46 3.94 0.22 10.92 7.85 48.0

2 Kamdhenu Ispat Ltd. Bars & rods 297.51 352.48 0.91 0.90 20.89 10.42 18.89 23.44 6% 7% 29.97 50.98 24.17 55.41 6.61 12.11 0.24 0.29 1.34 1.94 51.5

3 Jyoti Structures Ltd. Heavy structurals (Bridges & bridge 968.63 1364.62 0.62 0.71 10.59 15.05 126.32 169.5 13% 12% 109.01 112.48 114.08 86.17 30.85 20.56 10.05 3.55 9.88 4.11 51.6

4 K E C International Ltd. Heavy structurals (Bridges & bridge 2031.91 2795.5 0.55 0.58 2.75 3.60 253.61 356.1 12% 13% 139.62 152.13 196.47 188.3 38.31 37.04 2.63 1.19 4.55 3.44 61.2

5 Kalpataru Power Transmission Ltd. Heavy structurals (Bridges & bridge 1500.79 1696.98 0.64 0.61 4.56 4.62 260.02 263.05 17% 16% 97.21 122.8 125.29 125.3 45.83 42.67 4.21 3.77 7.71 7.41 71.6

6 I T W India Ltd. Chains & anchors of iron & steel 408.1 546.01 0.72 0.74 5.92 5.89 79.26 107.17 19% 20% 64.77 63.91 51.32 37.26 35.76 34.09 14.81 13.46 12.7 13.66 77.4

7 Pennar Industries Ltd. Cold rolled coils, strips, sheets 320.12 537.85 0.80 0.79 1.99 3.30 35.36 66.32 11% 12% 72.37 45.54 20.38 23.95 27.95 24.1 27.67 21.21 6.85 4.37 77.5

8 Skipper Steels Ltd. Welded steel tubular poles 120.51 315.4 0.85 0.86 5.13 5.12 9.51 24.02 8% 8% 41.47 40.41 50.68 32.75 12.36 13.01 25.76 21.97 7.23 3.94 79.1

9 Icomm Tele Ltd. Heavy structurals (Bridges & bridge 366.65 755.4 0.80 0.75 3.54 7.34 34.17 72.57 9% 10% 161.27 129.64 247.1 158.44 38.8 30.28 27.11 18.96 1.75 1.36 79.3

10 Nalwa Steel & Power Ltd. Sponge iron 225.36 529.78 0.74 0.66 0.74 1.48 41.49 94.5 18% 18% 13.49 12.85 102.47 25.43 66.49 35.9 0.22 0.11 36.38 15.16 81.9

11 Jindal Industries Ltd. Tubes & pipes 474.47 610.75 0.91 0.88 23.46 23.20 31.74 41.69 7% 7% 12.79 17.93 14.7 17.44 23.33 24.57 15.86 17.71 4.31 5.63 83.9

12 Vardhman Industries Ltd. Cold rolled coils, strips, sheets 282.77 307.31 0.94 0.94 3.13 6.53 9.81 17.04 3% 6% 39.72 53.58 52.65 38.24 23.28 18.13 3.76 3.5 11.93 18.81 84.5

13 Vallabh Steels Ltd. Cold rolled coils, strips, sheets 338.7 320 0.92 0.81 4.64 13.57 1.81 10.43 1% 3% 49.91 58.44 128.56 51.84 30.31 27.73 13.6 15.95 8.8 9.67 84.6

14 Technocraft Industries (India) Ltd. Tubes & pipes 307.76 332.88 0.57 0.64 1.89 1.76 68.38 66.77 22% 20% 91.73 105.94 26.22 54.09 141.07 155.74 0 0.62 12.83 13.66 87.0

15 Tube Investments Of India Ltd. ERW tubes & pipes 1782.21 1839.99 0.70 0.75 2.65 2.65 257.85 157.12 14% 9% 49.94 54.06 63.49 68.17 31.61 32.66 9.75 8.94 10.65 11.88 87.0

16 Kalyani Carpenter Special Steels Ltd. Alloy steel, nec 568.11 677.76 0.71 0.77 3.74 3.79 54.11 47.23 10% 7% 54.25 55.95 69.56 76.56 36.28 41.36 16.72 19.3 5.69 0.92 87.1

17 Kirloskar Inds. Ltd. Pig iron 529.02 736.18 0.72 0.72 2.16 1.93 88.06 99.17 17% 13% 37.89 38.28 97.88 103.36 37.25 36.03 4.27 4.99 3.51 5.45 87.2

18 Welspun Power & Steel Ltd. Sponge iron 230.91 321.85 0.82 0.66 1.38 0.48 28.7 84.23 12% 26% 19.68 18.62 85.64 81.95 38.29 46.82 0.59 0.5 13.31 10.45 87.5

19 Electrosteel Castings Ltd. Tubes & pipes 1149.52 1397.26 0.56 0.64 1.63 1.60 212.69 127.96 19% 9% 142.83 131.67 61.84 64 103.04 130.4 18.27 3.35 13.85 9.11 89.6

20 Concast Ispat Ltd. Bars & rods 331.91 415.41 0.92 0.97 16.18 24.08 16.65 20.77 5% 5% NA 68.69 28.73 10.96 NA 24.53 NA 10.29 NA 23.1 89.8

21 Mahindra Ugine Steel Co. Ltd. Alloy steel, nec 715.74 920.79 0.71 0.76 2.10 2.40 99.68 106.34 14% 12% 67.82 63.38 78.67 59.53 56.27 46.42 28.86 24.61 2.11 2.15 90.2

22 Bhuwalka Steel Inds. Ltd. Flat products 477.05 516.21 0.93 1.01 9.43 8.65 20.71 22.11 4% 4% 24.23 20.18 25.45 28.4 20.47 20.41 0.33 0.75 14.75 19.88 90.2

ferrous metAls

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers60

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

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Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 61

3 Opto Circuits (India) Ltd. Medical equipment 203.95 340.09 0.57 0.60 3.28 5.19 78.72 140.45 39% 41% 183.72 182.89 59.49 17.39 103.34 94.23 11.27 8.87 1.63 3.35 24.9

4 yokogawa India Ltd. Process control equipment 316.67 368.7 0.69 0.76 4.58 6.61 34.86 34.69 11% 9% 108.46 108.98 122.51 138.02 29.04 33.61 0.46 0.43 6.98 9.69 25.0

5 Electronics Corporation Of India Ltd. VHF radio systems 921.14 960.01 0.66 0.66 7.94 8.09 209.65 233.68 23% 24% 336.15 423.95 378.6 426.27 24.34 28.17 21.15 17.47 2.79 2.81 25.2

6 Honeywell Automation India Ltd. Process control equipment 643.85 866.88 0.72 0.74 8.78 10.56 87.75 103.91 14% 12% 105.79 95.28 129.1 117.36 22.17 17.33 33.7 41.34 3.36 3.37 28.3

7 C M S Computers Ltd. Computer peripherals 512.26 504.08 0.68 0.57 3.88 2.52 45.55 36.13 9% 7% 83.73 99.17 81.91 88.88 92.99 119.04 0.06 0.18 5.19 5.15 29.9

8 H C L Infosystems Ltd. Mini/micro computers 2309.97 11673.7 0.88 0.97 25.61 94.25 153.13 463.99 7% 4% 67.61 23.39 87.45 42.93 30.9 36.08 1.89 0.86 16.47 11.97 30.0

9 Tata B P Solar (India) Ltd. Solar appliances 668.59 923.27 0.83 0.84 3.90 1.87 62.68 71.56 9% 8% 60.71 72.35 55.81 145.82 42.6 43.34 9.92 7.16 0.83 0.33 30.3

10 Solectron E M S India Ltd. Other electronic components 109.32 317.8 0.85 0.91 2.58 9.36 9.51 23.6 9% 7% NA 57.14 162.9 59.31 NA 45.6 NA 8.96 NA 2.59 30.8

11 L G Electronics India Pvt. Ltd. Television receivers, colour 8178.57 8813.67 0.72 0.73 13.79 15.22 364.59 473.24 4% 5% NA 23.72 39.37 45.66 NA 45.49 NA 0.57 NA 23.88 31.6

12 Videocon Industries Ltd. Television receivers 6456.58 7669.57 0.70 0.67 0.91 0.96 1516.27 1957.08 23% 26% 51.83 52.61 42.3 39.76 64.66 69.43 5.99 6.44 14.33 15.44 33.4

13 Bharti Teletech Ltd. Electronic telephones 2451.43 1552.47 1.24 0.41 72.00 37.19 52.03 38.3 2% 2% 12.63 22.76 74.26 60.83 19.23 36 3.2 4.65 48.55 73.32 33.8

14 Luminous Power Technologies Pvt. Ltd. Batteries incl. Ni-Cd batteries 282.36 475.3 0.66 0.71 5.81 8.86 33.68 75.16 12% 16% NA 89.15 109.6 92.03 NA 40.79 NA 24.57 NA 11.14 33.8

15 Numeric Power Systems Ltd. Uninterupted power supplies 272.87 388.78 0.83 0.70 7.89 7.22 27.76 51.84 10% 13% 91.26 75.95 62.91 63.43 48.69 55.08 9.41 7.02 26.08 23.17 34.6

16 Trend Electronics Ltd. Television receivers 775.56 833.17 0.92 0.94 4.79 5.67 31.9 30.46 4% 4% 61.91 56.51 44.77 47.33 48.1 49.67 9.75 9.17 4.09 4.25 37.4

17 Philips Electronics India Ltd. Consumer electronics 2582 2857.3 0.65 0.69 6.35 7.33 367.6 348.3 14% 12% 45.78 39.09 72.58 79.05 52.61 41.59 6.97 14.15 22.27 22.61 37.9

18 Bharat Electronics Ltd. Electronics 4028.11 4250.05 0.63 0.61 6.08 5.74 1133.58 1281.4 28% 30% 147.78 193.51 348.85 373.68 193.74 207.85 66.9 63.88 6.18 6.79 40.4

19 Mirc Electronics Ltd. Television receivers, colour 1509.7 1526.54 0.83 0.87 6.07 6.94 90.77 87.24 6% 6% 25.33 27.49 54.07 53.68 44.16 49.83 8.63 8.63 25.67 36.07 41.9

20 Xerox India Ltd. Electronic paper copiers 498.4 559.18 0.80 0.83 12.44 12.19 30.5 41.09 6% 7% 66.32 58.5 63.95 62.45 153.47 254.2 7.76 8.37 52.39 58.1 44.2

21 Smartlink Network Systems Ltd. Computer peripherals 289.15 303 0.77 0.75 3.44 3.73 35.59 46.17 12% 15% 69.53 67.66 45.46 64 54.51 103.17 7.09 13.42 26.22 24.86 44.3

22 Moser Baer India Ltd. Magnetic media 2046.07 1970.88 0.53 0.54 0.39 0.38 598.28 529.96 29% 27% 64.32 63.09 87.7 80.47 82.03 85.3 25.91 45.54 35.55 40.03 46.4

23 J C T Electronics Ltd. TV picture tubes colour 290.95 339.32 1.04 0.95 0.78 0.86 523.97 -18.72 180% -6% 30.02 15.95 294.49 279.76 46.76 52.45 10.52 8.69 11.07 9.98 48.3

24 I T I Ltd. Switching systems 1781.36 1205.2 0.93 0.98 0.61 0.44 -216 -422.07 -12% -35% 338.47 529.75 377.92 490.71 176.22 193.52 42.43 37.3 13.4 18.12 52.3

25 Bharat Dynamics Ltd. Defence communication equipment 464.65 568.34 0.75 0.89 3.73 5.03 61.47 82.45 13% 15% NA 16.44 1105.42 965.29 NA 261.07 NA 81.13 NA 7.69 54.4

1 Sujana Universal Inds. Ltd. Cast iron castings 891.67 912.77 0.84 0.96 4.19 4.50 92.07 74.08 10% 8% 88.81 106.47 32.88 41.4 120.38 3.46 3.94 0.22 10.92 7.85 48.0

2 Kamdhenu Ispat Ltd. Bars & rods 297.51 352.48 0.91 0.90 20.89 10.42 18.89 23.44 6% 7% 29.97 50.98 24.17 55.41 6.61 12.11 0.24 0.29 1.34 1.94 51.5

3 Jyoti Structures Ltd. Heavy structurals (Bridges & bridge 968.63 1364.62 0.62 0.71 10.59 15.05 126.32 169.5 13% 12% 109.01 112.48 114.08 86.17 30.85 20.56 10.05 3.55 9.88 4.11 51.6

4 K E C International Ltd. Heavy structurals (Bridges & bridge 2031.91 2795.5 0.55 0.58 2.75 3.60 253.61 356.1 12% 13% 139.62 152.13 196.47 188.3 38.31 37.04 2.63 1.19 4.55 3.44 61.2

5 Kalpataru Power Transmission Ltd. Heavy structurals (Bridges & bridge 1500.79 1696.98 0.64 0.61 4.56 4.62 260.02 263.05 17% 16% 97.21 122.8 125.29 125.3 45.83 42.67 4.21 3.77 7.71 7.41 71.6

6 I T W India Ltd. Chains & anchors of iron & steel 408.1 546.01 0.72 0.74 5.92 5.89 79.26 107.17 19% 20% 64.77 63.91 51.32 37.26 35.76 34.09 14.81 13.46 12.7 13.66 77.4

7 Pennar Industries Ltd. Cold rolled coils, strips, sheets 320.12 537.85 0.80 0.79 1.99 3.30 35.36 66.32 11% 12% 72.37 45.54 20.38 23.95 27.95 24.1 27.67 21.21 6.85 4.37 77.5

8 Skipper Steels Ltd. Welded steel tubular poles 120.51 315.4 0.85 0.86 5.13 5.12 9.51 24.02 8% 8% 41.47 40.41 50.68 32.75 12.36 13.01 25.76 21.97 7.23 3.94 79.1

9 Icomm Tele Ltd. Heavy structurals (Bridges & bridge 366.65 755.4 0.80 0.75 3.54 7.34 34.17 72.57 9% 10% 161.27 129.64 247.1 158.44 38.8 30.28 27.11 18.96 1.75 1.36 79.3

10 Nalwa Steel & Power Ltd. Sponge iron 225.36 529.78 0.74 0.66 0.74 1.48 41.49 94.5 18% 18% 13.49 12.85 102.47 25.43 66.49 35.9 0.22 0.11 36.38 15.16 81.9

11 Jindal Industries Ltd. Tubes & pipes 474.47 610.75 0.91 0.88 23.46 23.20 31.74 41.69 7% 7% 12.79 17.93 14.7 17.44 23.33 24.57 15.86 17.71 4.31 5.63 83.9

12 Vardhman Industries Ltd. Cold rolled coils, strips, sheets 282.77 307.31 0.94 0.94 3.13 6.53 9.81 17.04 3% 6% 39.72 53.58 52.65 38.24 23.28 18.13 3.76 3.5 11.93 18.81 84.5

13 Vallabh Steels Ltd. Cold rolled coils, strips, sheets 338.7 320 0.92 0.81 4.64 13.57 1.81 10.43 1% 3% 49.91 58.44 128.56 51.84 30.31 27.73 13.6 15.95 8.8 9.67 84.6

14 Technocraft Industries (India) Ltd. Tubes & pipes 307.76 332.88 0.57 0.64 1.89 1.76 68.38 66.77 22% 20% 91.73 105.94 26.22 54.09 141.07 155.74 0 0.62 12.83 13.66 87.0

15 Tube Investments Of India Ltd. ERW tubes & pipes 1782.21 1839.99 0.70 0.75 2.65 2.65 257.85 157.12 14% 9% 49.94 54.06 63.49 68.17 31.61 32.66 9.75 8.94 10.65 11.88 87.0

16 Kalyani Carpenter Special Steels Ltd. Alloy steel, nec 568.11 677.76 0.71 0.77 3.74 3.79 54.11 47.23 10% 7% 54.25 55.95 69.56 76.56 36.28 41.36 16.72 19.3 5.69 0.92 87.1

17 Kirloskar Inds. Ltd. Pig iron 529.02 736.18 0.72 0.72 2.16 1.93 88.06 99.17 17% 13% 37.89 38.28 97.88 103.36 37.25 36.03 4.27 4.99 3.51 5.45 87.2

18 Welspun Power & Steel Ltd. Sponge iron 230.91 321.85 0.82 0.66 1.38 0.48 28.7 84.23 12% 26% 19.68 18.62 85.64 81.95 38.29 46.82 0.59 0.5 13.31 10.45 87.5

19 Electrosteel Castings Ltd. Tubes & pipes 1149.52 1397.26 0.56 0.64 1.63 1.60 212.69 127.96 19% 9% 142.83 131.67 61.84 64 103.04 130.4 18.27 3.35 13.85 9.11 89.6

20 Concast Ispat Ltd. Bars & rods 331.91 415.41 0.92 0.97 16.18 24.08 16.65 20.77 5% 5% NA 68.69 28.73 10.96 NA 24.53 NA 10.29 NA 23.1 89.8

21 Mahindra Ugine Steel Co. Ltd. Alloy steel, nec 715.74 920.79 0.71 0.76 2.10 2.40 99.68 106.34 14% 12% 67.82 63.38 78.67 59.53 56.27 46.42 28.86 24.61 2.11 2.15 90.2

22 Bhuwalka Steel Inds. Ltd. Flat products 477.05 516.21 0.93 1.01 9.43 8.65 20.71 22.11 4% 4% 24.23 20.18 25.45 28.4 20.47 20.41 0.33 0.75 14.75 19.88 90.2

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

large manufacturing companies

Page 64: Reinventing the Supply Chain

23 Godawari Power & Ispat Ltd. Semi-finished Steel 437.09 819.72 0.75 0.84 0.89 1.74 86.73 161.47 20% 20% 14.25 13.57 27.59 20.64 48.91 48.49 0.53 0.29 9.19 13.95 90.4

24 S P S Steel & Power Ltd. Semi-finished Steel 727.17 1061.7 0.76 0.95 1.51 1.95 60.91 101.41 8% 10% 65.03 74.82 135.59 102.44 106.87 53.55 0.06 0.06 14.95 12.76 91.0

25 Jai Corp Ltd. Clad, plated or coated flat rolled 344.21 434.93 0.49 0.58 1.35 1.09 96.79 161.02 28% 37% 35.64 55.92 12.84 26.74 60.97 66.15 9.25 9.17 29.49 14.07 91.7

26 Nelcast Ltd. Cast iron castings 306.82 363.39 0.57 0.65 2.29 2.00 42.05 53.95 14% 15% 43.99 55.16 46.5 39.52 24.48 26.55 15.79 19.53 17.78 18.59 93.9

27 Avon Ispat & Power Ltd. Cold rolled coils, strips, sheets 462.31 427.62 0.87 0.88 3.59 3.51 32.11 34.67 7% 8% 77.84 87.47 59.28 77.38 15.92 16.54 25.59 27.19 8.97 13.38 95.0

28 Lloyds Metals & Engineers Ltd. Sponge iron 296.18 329.67 0.74 0.92 0.97 1.50 -5.75 48.16 -2% 15% 22.34 15.88 182.45 170.82 27.26 23.03 0.84 0.93 13.1 9.76 96.8

29 R L Steels & Energy Ltd. Semi-finished Steel 259.5 348.27 0.88 0.86 3.55 3.62 22.73 31.15 9% 9% 28.54 28.3 44.86 29.63 22.01 27.55 7.26 4.94 12.17 19.22 97.6

30 Electrotherm (India) Ltd. Semi-finished Steel 726.65 1328.89 0.79 0.74 1.46 1.43 102.89 208.19 14% 16% 50.46 55.26 132.46 47.31 69.35 76.37 17.06 12.85 7.5 6.05 97.9

31 Manaksia Ltd. Crown caps 645.4 741.35 0.78 0.80 1.42 1.69 85.65 99.77 13% 13% 75.09 62.15 56.8 48.92 49.4 38.34 14.82 19.58 11.46 12.67 98.2

32 Jayaswal Neco Inds. Ltd. Pig iron 1237.97 1477.04 0.73 0.69 1.88 2.22 115.06 183.36 9% 12% 26.17 25.97 38.41 23.43 66.43 49.74 3.74 3.91 19.23 17.63 99.9

33 Ahmednagar Forgings Ltd. Forgings 374.78 597.49 0.77 0.78 0.86 1.19 73.64 122.93 20% 21% 31.07 27.64 91.8 85.7 25.14 15.37 34.76 39.33 11.96 6.47 100.1

34 Lanco Industries Ltd. Spun pipes 370.89 467.15 0.65 0.62 0.96 1.06 54.2 85.97 15% 18% 71.6 64.24 100.03 81.3 109.29 101.3 10.77 9.23 9.57 9.72 101.1

35 Oil Country Tubular Ltd. Seamless tubes & pipes 264.08 340.35 0.77 0.48 3.49 3.26 27.68 89.41 10% 26% 26.61 32.85 94.33 67.58 44.23 48.43 31.5 29.71 15.4 13.09 102.6

36 Ispat Industries Ltd. Hot rolled coils, strips, sheets 7593.89 8600.27 0.67 0.69 0.51 0.63 1656.29 1777.76 22% 21% 27.54 23.9 112.67 121.13 60.23 68.91 0.66 0.58 10.56 8.29 102.7

37 Remi Metals Gujarat Ltd. Alloy steel, nec 203.65 335.75 0.79 0.90 1.82 1.80 -4.52 288.28 -2% 86% 74.99 62.33 131.25 102.68 65.43 40.86 43.84 35.53 17.2 7.74 103.5

38 Steelco Gujarat Ltd. Cold rolled coils, strips, sheets 379.05 365.18 0.85 0.79 3.67 3.65 14.57 14.44 4% 4% 38.62 33.94 105.06 122.93 21.29 25.95 7.59 6.35 13.09 13.57 103.6

39 Maithan Alloys Ltd. Ferro alloys 153.76 379.41 0.78 0.75 1.85 2.95 24.68 75.04 16% 20% 16.68 20.67 48.02 94.19 110.51 109.19 1.18 1.27 9.08 9.66 104.1

40 Jai Balaji Inds. Ltd. Semi-finished Steel 1057.44 1322.62 0.81 0.82 1.40 0.97 153.43 294.49 15% 22% 38.65 52.42 52.69 72.09 101.81 127.74 0 0.23 4.32 14.86 104.8

41 Jindal Saw Ltd. Tubes & pipes 3886.44 7396.22 0.80 0.57 3.51 3.41 438.62 1273.29 11% 17% 48.8 48.56 99.69 50.03 93.41 62.49 14.27 18.34 31.23 16.19 105.3

42 Swastik Pipes Ltd. Tubes & pipes 383.5 446.14 0.97 0.95 13.47 14.05 14.83 18.04 4% 4% 28.01 25.95 27.26 29.66 23.33 26.36 17.02 19.57 11.96 15.15 106.6

43 J S W Steel Ltd. Hot rolled coils, strips, sheets 8574.72 11442.8 0.53 0.61 0.44 0.42 3004.71 3698.4 35% 32% 9.92 8.96 116.82 136.47 58.4 50.05 3.77 2.1 10.46 12.12 107.1

44 Maharashtra Seamless Ltd. Seamless tubes & pipes 1410.85 1528.63 0.65 0.78 3.20 3.54 371.31 321 26% 21% 40.75 51.71 19.44 36.63 69.03 66.19 13.59 11.25 17.07 21.37 108.9

45 Man Industries (India) Ltd. Tubes & pipes 1122.92 1447.3 0.79 0.89 3.06 3.34 125.36 162.95 11% 11% 66.89 68.9 135.84 149.89 30.18 38.74 19.63 14.15 8.66 14.54 111.7

46 Balasore Alloys Ltd. Ferro alloys 343.96 539.78 0.59 0.65 0.53 0.93 51.75 104.62 15% 19% 4.67 5.43 165.96 133.73 187.94 135.79 1.24 0.84 5.64 4.07 112.5

47 Monnet Ispat & Energy Ltd. Semi-finished Steel 685.51 1205.68 0.65 0.76 0.42 0.70 224.12 298.32 33% 25% 20.11 20.94 54.84 47.02 66.31 55 6.79 2.21 24.28 24.96 112.7

48 I S M T Ltd. Alloy steel, nec 1209.02 1220.2 0.60 0.67 0.90 0.80 286.45 262.66 24% 22% 73 75.02 81.3 92.56 61.55 66.83 19.44 20.53 16.81 13.56 113.9

49 Lloyds Steel Inds. Ltd. Hot rolled coils, strips, sheets 1722.59 2208.16 0.80 0.76 1.21 1.62 86.47 106.63 5% 5% 21.91 18.39 142.25 109.23 26.39 26.36 32.61 23.06 9.98 7.07 114.7

50 Ramsarup Industries Ltd. Wires & ropes of iron & steel 1275.46 1757.56 1.01 1.04 12.01 2.39 111.6 160.61 9% 9% 61.71 64.67 74.7 102.78 31.13 34.18 4.94 2.27 37.32 51.95 115.2

51 Bhushan Power & Steel Ltd. Flat products 2727.93 3494.26 0.80 0.83 0.48 0.46 676.33 1107.66 25% 32% 62.63 62.05 89.34 77.3 61.63 74.04 2.45 3.36 14.88 22.89 115.6

52 Facor Steels Ltd. Flat products 425.96 479.28 0.86 0.91 13.05 11.44 15.39 14.52 4% 3% 15.92 17.33 68.1 73.47 26.11 24.38 14.14 18.13 15.75 18.87 117.2

53 Ratnamani Metals & Tubes Ltd. Tubes & pipes 576.71 845.6 0.78 0.68 1.74 2.00 128.34 180.56 22% 21% 28.33 35.86 99.01 85.28 37.07 46.26 41.05 33.81 14.49 15.17 118.6

54 Viraj Profiles Ltd. Flat products 2492.44 4006.19 1.04 0.75 5.83 6.18 252.96 309.29 10% 8% NA 10.84 93.8 21.17 NA 16.14 NA 35.55 NA 32.23 119.6

55 Shah Alloys Ltd. Stainless steel 1265.2 921.93 0.87 0.86 2.59 1.89 110.07 -89.48 9% -10% 23.02 19.73 79.89 30.01 24.19 31.03 9.94 6.19 26.06 31.71 120.5

56 Ferro Alloys Corpn. Ltd. Ferro alloys 191.43 302.57 0.36 0.31 0.86 1.26 38.08 92.93 20% 31% 23.06 14.01 86.46 82.66 226.6 275.05 3.13 3.53 21.05 16.46 121.7

57 Sunflag Iron & Steel Co. Ltd. Other alloy steels, nec 799.36 957.53 0.75 0.77 1.85 2.17 100.7 112.65 13% 12% 23.44 21.63 43.28 22.16 44.88 54.4 12.03 14.08 32.23 27.5 123.4

58 Mukand Ltd. Flat products 1870.51 1979.36 0.54 0.65 1.43 1.42 322.09 303.35 17% 15% 95.26 96.24 79.79 101.19 36.14 39.85 33.01 36.43 18.02 28.09 125.4

59 Tata Steel Ltd. Finished Steel (Non-Alloy Steel) 17914.77 20446.38 0.33 0.31 0.54 0.51 7332.12 8841.29 41% 43% 11.44 10.24 95.42 90.74 93.44 104.93 1.41 2.6 25.07 22.47 126.2

60 Sujana Metal Products Ltd. Flat products 726.34 750.53 0.93 0.99 3.14 2.76 71.89 69.19 10% 9% 80.65 81.44 51.05 68.97 3.71 47.36 9.53 27.94 12.41 23.2 127.5

61 S A L Steel Ltd. Sponge iron 266.25 378.35 0.84 0.69 0.74 0.76 45.57 73.82 17% 20% 33.26 10.69 66.88 83.4 47.29 61.86 7.55 4.14 25.14 21.34 127.8

62 Nava Bharat Ventures Ltd. Ferro alloys 565.2 907.23 0.54 0.61 0.69 0.85 195.7 413.5 35% 46% 27.96 24.06 67.08 84.4 96.17 85.18 3.82 3.68 45.91 64.13 130.9

63 Ruchi Strips & Alloys Ltd. Cold rolled coils, strips, sheets 475.29 451.71 0.91 0.95 17.21 11.16 10.61 13.27 2% 3% 33.98 60.57 60.87 117.64 61.5 84.91 23.21 24.07 10.56 11.49 133.1

64 Jindal Steel & Power Ltd. Iron & steel 3521.51 5395.57 0.36 0.38 0.25 0.35 1396.38 2150.35 40% 40% 29.14 18.33 111.26 92.13 91.58 68.13 9.04 7.63 35.92 34.1 133.2

65 Zenith Birla (India) Ltd. Tubes & pipes 378.93 479.97 0.86 0.78 3.26 3.64 38 47.57 10% 10% 50.19 45.39 129.51 114.3 47.3 30.99 40.88 41.77 31.47 26.09 133.7

66 Everest Kanto Cylinder Ltd. LPG cylinders & other gas containers 340.85 344.56 0.77 0.62 2.87 1.26 90.44 92.68 27% 27% 31.55 44.72 26.23 87.97 65.95 162.43 30.56 49.53 2.42 12.09 134.2

67 Uttam Galva Steels Ltd. Flat products 2590.78 3185.74 0.78 0.87 1.63 1.74 336.17 406.05 13% 13% 24.55 27.23 171.06 174.32 66.01 77.54 7.17 8.2 16.38 13.43 135.0

68 Welspun-Gujarat Stahl Rohren Ltd. Tubes & pipes 2725.43 4045.71 0.79 0.78 1.31 1.30 317.68 715.32 12% 18% 56.41 58.02 145.16 177.43 35.31 54.23 10.61 10.35 37.56 35.9 136.2

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers62

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 65: Reinventing the Supply Chain

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 63

23 Godawari Power & Ispat Ltd. Semi-finished Steel 437.09 819.72 0.75 0.84 0.89 1.74 86.73 161.47 20% 20% 14.25 13.57 27.59 20.64 48.91 48.49 0.53 0.29 9.19 13.95 90.4

24 S P S Steel & Power Ltd. Semi-finished Steel 727.17 1061.7 0.76 0.95 1.51 1.95 60.91 101.41 8% 10% 65.03 74.82 135.59 102.44 106.87 53.55 0.06 0.06 14.95 12.76 91.0

25 Jai Corp Ltd. Clad, plated or coated flat rolled 344.21 434.93 0.49 0.58 1.35 1.09 96.79 161.02 28% 37% 35.64 55.92 12.84 26.74 60.97 66.15 9.25 9.17 29.49 14.07 91.7

26 Nelcast Ltd. Cast iron castings 306.82 363.39 0.57 0.65 2.29 2.00 42.05 53.95 14% 15% 43.99 55.16 46.5 39.52 24.48 26.55 15.79 19.53 17.78 18.59 93.9

27 Avon Ispat & Power Ltd. Cold rolled coils, strips, sheets 462.31 427.62 0.87 0.88 3.59 3.51 32.11 34.67 7% 8% 77.84 87.47 59.28 77.38 15.92 16.54 25.59 27.19 8.97 13.38 95.0

28 Lloyds Metals & Engineers Ltd. Sponge iron 296.18 329.67 0.74 0.92 0.97 1.50 -5.75 48.16 -2% 15% 22.34 15.88 182.45 170.82 27.26 23.03 0.84 0.93 13.1 9.76 96.8

29 R L Steels & Energy Ltd. Semi-finished Steel 259.5 348.27 0.88 0.86 3.55 3.62 22.73 31.15 9% 9% 28.54 28.3 44.86 29.63 22.01 27.55 7.26 4.94 12.17 19.22 97.6

30 Electrotherm (India) Ltd. Semi-finished Steel 726.65 1328.89 0.79 0.74 1.46 1.43 102.89 208.19 14% 16% 50.46 55.26 132.46 47.31 69.35 76.37 17.06 12.85 7.5 6.05 97.9

31 Manaksia Ltd. Crown caps 645.4 741.35 0.78 0.80 1.42 1.69 85.65 99.77 13% 13% 75.09 62.15 56.8 48.92 49.4 38.34 14.82 19.58 11.46 12.67 98.2

32 Jayaswal Neco Inds. Ltd. Pig iron 1237.97 1477.04 0.73 0.69 1.88 2.22 115.06 183.36 9% 12% 26.17 25.97 38.41 23.43 66.43 49.74 3.74 3.91 19.23 17.63 99.9

33 Ahmednagar Forgings Ltd. Forgings 374.78 597.49 0.77 0.78 0.86 1.19 73.64 122.93 20% 21% 31.07 27.64 91.8 85.7 25.14 15.37 34.76 39.33 11.96 6.47 100.1

34 Lanco Industries Ltd. Spun pipes 370.89 467.15 0.65 0.62 0.96 1.06 54.2 85.97 15% 18% 71.6 64.24 100.03 81.3 109.29 101.3 10.77 9.23 9.57 9.72 101.1

35 Oil Country Tubular Ltd. Seamless tubes & pipes 264.08 340.35 0.77 0.48 3.49 3.26 27.68 89.41 10% 26% 26.61 32.85 94.33 67.58 44.23 48.43 31.5 29.71 15.4 13.09 102.6

36 Ispat Industries Ltd. Hot rolled coils, strips, sheets 7593.89 8600.27 0.67 0.69 0.51 0.63 1656.29 1777.76 22% 21% 27.54 23.9 112.67 121.13 60.23 68.91 0.66 0.58 10.56 8.29 102.7

37 Remi Metals Gujarat Ltd. Alloy steel, nec 203.65 335.75 0.79 0.90 1.82 1.80 -4.52 288.28 -2% 86% 74.99 62.33 131.25 102.68 65.43 40.86 43.84 35.53 17.2 7.74 103.5

38 Steelco Gujarat Ltd. Cold rolled coils, strips, sheets 379.05 365.18 0.85 0.79 3.67 3.65 14.57 14.44 4% 4% 38.62 33.94 105.06 122.93 21.29 25.95 7.59 6.35 13.09 13.57 103.6

39 Maithan Alloys Ltd. Ferro alloys 153.76 379.41 0.78 0.75 1.85 2.95 24.68 75.04 16% 20% 16.68 20.67 48.02 94.19 110.51 109.19 1.18 1.27 9.08 9.66 104.1

40 Jai Balaji Inds. Ltd. Semi-finished Steel 1057.44 1322.62 0.81 0.82 1.40 0.97 153.43 294.49 15% 22% 38.65 52.42 52.69 72.09 101.81 127.74 0 0.23 4.32 14.86 104.8

41 Jindal Saw Ltd. Tubes & pipes 3886.44 7396.22 0.80 0.57 3.51 3.41 438.62 1273.29 11% 17% 48.8 48.56 99.69 50.03 93.41 62.49 14.27 18.34 31.23 16.19 105.3

42 Swastik Pipes Ltd. Tubes & pipes 383.5 446.14 0.97 0.95 13.47 14.05 14.83 18.04 4% 4% 28.01 25.95 27.26 29.66 23.33 26.36 17.02 19.57 11.96 15.15 106.6

43 J S W Steel Ltd. Hot rolled coils, strips, sheets 8574.72 11442.8 0.53 0.61 0.44 0.42 3004.71 3698.4 35% 32% 9.92 8.96 116.82 136.47 58.4 50.05 3.77 2.1 10.46 12.12 107.1

44 Maharashtra Seamless Ltd. Seamless tubes & pipes 1410.85 1528.63 0.65 0.78 3.20 3.54 371.31 321 26% 21% 40.75 51.71 19.44 36.63 69.03 66.19 13.59 11.25 17.07 21.37 108.9

45 Man Industries (India) Ltd. Tubes & pipes 1122.92 1447.3 0.79 0.89 3.06 3.34 125.36 162.95 11% 11% 66.89 68.9 135.84 149.89 30.18 38.74 19.63 14.15 8.66 14.54 111.7

46 Balasore Alloys Ltd. Ferro alloys 343.96 539.78 0.59 0.65 0.53 0.93 51.75 104.62 15% 19% 4.67 5.43 165.96 133.73 187.94 135.79 1.24 0.84 5.64 4.07 112.5

47 Monnet Ispat & Energy Ltd. Semi-finished Steel 685.51 1205.68 0.65 0.76 0.42 0.70 224.12 298.32 33% 25% 20.11 20.94 54.84 47.02 66.31 55 6.79 2.21 24.28 24.96 112.7

48 I S M T Ltd. Alloy steel, nec 1209.02 1220.2 0.60 0.67 0.90 0.80 286.45 262.66 24% 22% 73 75.02 81.3 92.56 61.55 66.83 19.44 20.53 16.81 13.56 113.9

49 Lloyds Steel Inds. Ltd. Hot rolled coils, strips, sheets 1722.59 2208.16 0.80 0.76 1.21 1.62 86.47 106.63 5% 5% 21.91 18.39 142.25 109.23 26.39 26.36 32.61 23.06 9.98 7.07 114.7

50 Ramsarup Industries Ltd. Wires & ropes of iron & steel 1275.46 1757.56 1.01 1.04 12.01 2.39 111.6 160.61 9% 9% 61.71 64.67 74.7 102.78 31.13 34.18 4.94 2.27 37.32 51.95 115.2

51 Bhushan Power & Steel Ltd. Flat products 2727.93 3494.26 0.80 0.83 0.48 0.46 676.33 1107.66 25% 32% 62.63 62.05 89.34 77.3 61.63 74.04 2.45 3.36 14.88 22.89 115.6

52 Facor Steels Ltd. Flat products 425.96 479.28 0.86 0.91 13.05 11.44 15.39 14.52 4% 3% 15.92 17.33 68.1 73.47 26.11 24.38 14.14 18.13 15.75 18.87 117.2

53 Ratnamani Metals & Tubes Ltd. Tubes & pipes 576.71 845.6 0.78 0.68 1.74 2.00 128.34 180.56 22% 21% 28.33 35.86 99.01 85.28 37.07 46.26 41.05 33.81 14.49 15.17 118.6

54 Viraj Profiles Ltd. Flat products 2492.44 4006.19 1.04 0.75 5.83 6.18 252.96 309.29 10% 8% NA 10.84 93.8 21.17 NA 16.14 NA 35.55 NA 32.23 119.6

55 Shah Alloys Ltd. Stainless steel 1265.2 921.93 0.87 0.86 2.59 1.89 110.07 -89.48 9% -10% 23.02 19.73 79.89 30.01 24.19 31.03 9.94 6.19 26.06 31.71 120.5

56 Ferro Alloys Corpn. Ltd. Ferro alloys 191.43 302.57 0.36 0.31 0.86 1.26 38.08 92.93 20% 31% 23.06 14.01 86.46 82.66 226.6 275.05 3.13 3.53 21.05 16.46 121.7

57 Sunflag Iron & Steel Co. Ltd. Other alloy steels, nec 799.36 957.53 0.75 0.77 1.85 2.17 100.7 112.65 13% 12% 23.44 21.63 43.28 22.16 44.88 54.4 12.03 14.08 32.23 27.5 123.4

58 Mukand Ltd. Flat products 1870.51 1979.36 0.54 0.65 1.43 1.42 322.09 303.35 17% 15% 95.26 96.24 79.79 101.19 36.14 39.85 33.01 36.43 18.02 28.09 125.4

59 Tata Steel Ltd. Finished Steel (Non-Alloy Steel) 17914.77 20446.38 0.33 0.31 0.54 0.51 7332.12 8841.29 41% 43% 11.44 10.24 95.42 90.74 93.44 104.93 1.41 2.6 25.07 22.47 126.2

60 Sujana Metal Products Ltd. Flat products 726.34 750.53 0.93 0.99 3.14 2.76 71.89 69.19 10% 9% 80.65 81.44 51.05 68.97 3.71 47.36 9.53 27.94 12.41 23.2 127.5

61 S A L Steel Ltd. Sponge iron 266.25 378.35 0.84 0.69 0.74 0.76 45.57 73.82 17% 20% 33.26 10.69 66.88 83.4 47.29 61.86 7.55 4.14 25.14 21.34 127.8

62 Nava Bharat Ventures Ltd. Ferro alloys 565.2 907.23 0.54 0.61 0.69 0.85 195.7 413.5 35% 46% 27.96 24.06 67.08 84.4 96.17 85.18 3.82 3.68 45.91 64.13 130.9

63 Ruchi Strips & Alloys Ltd. Cold rolled coils, strips, sheets 475.29 451.71 0.91 0.95 17.21 11.16 10.61 13.27 2% 3% 33.98 60.57 60.87 117.64 61.5 84.91 23.21 24.07 10.56 11.49 133.1

64 Jindal Steel & Power Ltd. Iron & steel 3521.51 5395.57 0.36 0.38 0.25 0.35 1396.38 2150.35 40% 40% 29.14 18.33 111.26 92.13 91.58 68.13 9.04 7.63 35.92 34.1 133.2

65 Zenith Birla (India) Ltd. Tubes & pipes 378.93 479.97 0.86 0.78 3.26 3.64 38 47.57 10% 10% 50.19 45.39 129.51 114.3 47.3 30.99 40.88 41.77 31.47 26.09 133.7

66 Everest Kanto Cylinder Ltd. LPG cylinders & other gas containers 340.85 344.56 0.77 0.62 2.87 1.26 90.44 92.68 27% 27% 31.55 44.72 26.23 87.97 65.95 162.43 30.56 49.53 2.42 12.09 134.2

67 Uttam Galva Steels Ltd. Flat products 2590.78 3185.74 0.78 0.87 1.63 1.74 336.17 406.05 13% 13% 24.55 27.23 171.06 174.32 66.01 77.54 7.17 8.2 16.38 13.43 135.0

68 Welspun-Gujarat Stahl Rohren Ltd. Tubes & pipes 2725.43 4045.71 0.79 0.78 1.31 1.30 317.68 715.32 12% 18% 56.41 58.02 145.16 177.43 35.31 54.23 10.61 10.35 37.56 35.9 136.2

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ou

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s

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

large manufacturing companies

Page 66: Reinventing the Supply Chain

69 Bhushan Steel Ltd. Cold rolled coils, strips, sheets 3874 4228.05 0.83 0.85 0.89 0.57 899.7 1186.21 23% 28% 41.08 45.35 76.91 108.87 40.16 58.47 13.45 14.38 16.32 25.96 137.0

70 Vikash Metal & Power Ltd. Sponge iron 169.63 335.13 0.99 0.85 1.26 1.75 18.23 31.14 11% 9% 58.49 71.85 112.99 132.54 117.27 163.08 39.67 28.17 13.85 11 139.8

71 L G Balakrishnan & Bros. Ltd. Chains & anchors of iron & steel 484.51 550.51 0.65 0.63 1.39 1.43 78.52 75.08 16% 14% 52.14 56.02 78.89 69.89 67.3 69.6 37.07 47.46 27.54 28.36 141.3

72 Indian Steel Corpn. Ltd. Clad, plated or coated flat rolled 427.8 716 1.07 0.88 1.73 2.23 25.68 52.32 6% 7% 16.01 28.1 103.02 119.38 46.81 49.96 21.51 20.47 16.74 19.09 142.4

73 Sathavahana Ispat Ltd. Pig iron 249.26 356.53 0.84 0.99 0.88 1.40 37.65 85.84 15% 24% 38.22 29.5 149.95 192.42 76.61 54.66 3.79 3.5 61.76 89.84 142.9

74 P S L Ltd. Tubes & pipes 1442.36 2043.92 0.86 0.71 2.69 3.17 187.91 235.37 13% 12% 73.78 45.67 125.57 131.06 65.21 51.29 55.91 55.32 40.64 36.02 151.9

75 Usha Martin Ltd. Wires & ropes of iron & steel 1411.51 1686.65 0.62 0.63 0.74 0.73 295.69 378.79 21% 22% 50.91 48.88 122.16 196.8 57.74 81.05 20.65 22.84 33.39 35.22 152.5

76 Essar Steel Ltd. Hot rolled coils, strips 8220.72 10931.45 0.67 0.55 0.55 0.61 1879.48 2187.96 23% 20% 22.62 14 165.11 124.6 115.6 101.71 24.85 29.67 17.38 16.94 153.5

77 Adhunik Metaliks Ltd. Iron & steel 790.21 1050.04 0.77 0.72 1.09 0.89 124.73 183.72 16% 17% 38.2 47.83 79.25 112 81.9 68.85 13.55 45.93 21.67 28.5 156.1

78 Visa Steel Ltd. Pig iron 548.77 692.44 0.71 1.03 0.63 0.71 65.64 123.97 12% 18% 29.27 37.28 139.14 250.11 146.87 154.3 1.52 2.79 26.42 38.48 157.9

79 J S L Ltd. Flat products 4967.79 5255.21 0.74 0.99 0.98 1.09 915.93 848.69 18% 16% 32.44 42.71 137.86 157.98 47.74 62.51 14.62 25.13 23.68 40.77 165.7

1 Vimal Oil & Foods Ltd. Cotton seed oil 492.48 635.01 0.95 0.93 32.14 28.96 11.34 16.21 2% 3% 30.76 27.25 34.69 26.09 23.31 27.01 0.27 0.12 10.4 10.9 54.5

2 Shiva Distilleries Ltd. Indian made foreign liquors 284.87 342 0.32 0.33 7.47 8.97 19.99 37.63 7% 11% 6.9 9.22 24.94 22.64 19.11 21.72 4.05 3.59 1.43 0.31 57.3

3 John Distilleries Ltd. Indian made foreign liquors 184.83 314.61 0.79 0.74 6.36 7.67 15.54 20.45 8% 7% NA 24.33 28.27 12.81 NA 19.52 NA 4.73 NA 1.65 58.9

4 Vijay Solvex Ltd. Vanaspati 535.45 646.64 0.86 0.96 14.93 18.62 16.95 22.36 3% 3% 18.49 18.14 18.7 16.86 14.87 18.79 0.39 0.39 11.18 12.09 59.6

5 Hatsun Agro Products Ltd. Milk 589.16 867.24 0.83 0.85 3.39 4.22 35.13 56.06 6% 6% 3.61 4.25 26.67 28.82 5.48 5.6 1.34 1.61 3.4 7 61.1

6 Parle Biscuits Pvt. Ltd. Biscuits 1344.09 1560.3 0.70 0.62 4.30 2.61 136.72 226.33 10% 15% 1.32 3.7 20.08 27.74 10.19 12.06 0.01 0.24 14.85 20.45 62.5

7 Hind Agro Inds. Ltd. Meat of buffaloes 473.1 359.58 0.81 0.85 4.08 3.43 29.41 20.06 6% 6% 34.95 53.01 24.72 33.23 2.09 2.47 0.16 0.68 34.54 51.59 63.5

8 Balaji Distilleries Ltd. Indian made foreign liquors 424.85 535.19 0.31 0.33 1.10 1.39 24.27 143.07 6% 27% 6.53 7.19 54.51 57.41 14.96 17.63 4.09 3.84 0.69 0.26 65.9

9 Modern Dairies Ltd. Skimmed milk powder 173.19 412.89 1.09 0.95 1.86 3.56 8.32 28.81 5% 7% 32.09 22.87 44.99 27.59 5.43 4.72 0.66 0.79 31.94 29.83 67.3

10 Britannia Industries Ltd. Biscuits 2264.51 2596.46 0.65 0.57 6.91 5.87 147.47 267.75 7% 10% 3.99 5.45 37.46 37.46 35.4 45.99 0.05 0.03 9.91 10.64 68.0

11 Kwality Dairy (India) Ltd. Dairy products 149.64 333.1 1.00 0.97 21.79 38.70 8.44 12.76 6% 4% 50.72 48.49 75.98 71.19 2.64 1.16 0 2.05 34.71 22.29 69.2

12 Pepsico India Holdings Pvt. Ltd. Soft drinks 2062.6 2419.7 0.47 0.47 1.14 1.24 221.47 225.6 11% 9% NA 19.75 67.44 73.14 NA 51.92 NA 0.16 NA 7.98 70.2

13 Heritage Foods (India) Ltd. Milk 346.47 618.95 0.86 0.84 2.60 2.48 10.76 23.68 3% 4% 3.65 4.35 35.84 40.56 20.18 16.01 0.05 0.07 21.81 16.87 71.3

14 Varun Beverages Ltd. Soft drinks 323.11 367.18 0.65 0.67 0.71 0.77 56.18 61.32 17% 17% 28.32 32.57 71.24 64.15 44.76 46.84 2.1 1.75 6.33 6.55 71.6

15 Vikas W S P Ltd. Guar gum 249.26 318.04 0.66 0.71 0.58 0.42 60.29 94.96 24% 30% 83.94 64.7 35.41 35.07 179.28 81.67 0 0.03 15.49 21.4 71.8

16 Kohinoor Foods Ltd. Rice 589.92 634.3 0.92 1.02 8.62 9.34 59.26 45.03 10% 7% 50.52 70.06 21.76 15.64 41.19 31.19 0.11 0.13 204.87 241.41 73.1

17 Sanwaria Agro Oils Ltd. Soyabean oil cake 374.16 750.06 0.87 0.84 3.89 4.80 20.53 77.59 5% 10% 15.95 17.83 24.15 24.73 74.14 83.94 0.44 0.55 8.66 9.61 73.3

18 Godrej Agrovet Ltd. Animal and bird feeds 692.04 1235.08 0.88 0.88 5.40 8.50 23.88 79.11 3% 6% 33.91 18.61 76.41 56.3 42.8 30.49 2.49 0.84 20.17 13.08 73.3

19 Tinna Oils & Chemicals Ltd. Edible oils 380.94 488.89 0.84 0.89 9.94 14.43 12.2 26.96 3% 6% 23.47 25.65 11.05 12.33 23.17 26.6 8.05 7.27 10.1 11.33 74.9

20 B C L Industries & Infrastructures Ltd. Edible oils 205.89 404.93 0.87 0.89 14.68 22.02 6.03 8.31 3% 2% 18.19 11.43 56.4 32.18 43.53 33.6 3.44 2.82 11.98 6.93 77.3

21 United Spirits Ltd. Ethyl alcohol (strength less than 80%) 2992.15 3134.19 0.35 0.39 2.26 2.30 765.03 643.4 26% 21% 27.01 25.92 44.89 53.07 28.2 31.91 26.55 28.52 8.98 8.88 79.1

22 Radico Khaitan Ltd. Indian made foreign liquors 571.03 805.68 0.39 0.48 0.68 0.99 91.18 104.37 16% 13% 41.59 40.51 27.41 25.02 50.59 54.86 4.83 5.42 10.38 9.55 80.6

23 Riddhi Siddhi Gluco Biols Ltd. Starches 333.53 332.99 0.76 0.77 1.02 0.88 54.9 55.71 16% 17% 55.27 68.35 26.33 24.38 95.47 114.69 4.91 7.75 4.42 5.75 81.1

24 Sakthi Sugars Ltd. Sugar 809.24 695.91 0.61 0.69 0.79 0.53 200.13 157.12 25% 23% 20.67 23.8 54.84 77.29 32.27 30.71 2.23 2.34 10.85 14.24 81.5

25 Amrit Banaspati Co. Ltd. Vanaspati 630.97 759.53 0.89 0.93 16.34 19.97 12.08 9.8 2% 1% 3.88 6.77 24.51 24.17 14.71 22.15 2.81 3.7 6.93 10.75 81.8

26 Gujarat Ambuja Exports Ltd. Soyabean oil cake 1407.72 1845.58 0.88 0.87 4.74 6.03 105.71 159.22 8% 9% 17.17 15.75 9.14 21.57 53.83 54.27 0.78 0.53 22.75 26.39 82.5

27 Kanpur Edibles Pvt. Ltd. Vanaspati 363.71 668.13 0.94 0.95 26.38 36.04 5.97 9.14 2% 1% NA 14.81 30.67 50.66 NA 31.52 NA 4.74 NA 5.24 85.4

28 Skol Breweries Ltd. Beer 882.45 1135.55 0.31 0.36 0.34 0.40 139.2 147.03 16% 13% 46.56 46.69 96.98 87.56 33.83 34.61 7.22 7.1 7.08 9.33 86.1

29 Gokul Refoils & Solvent Ltd. Edible oils 1532.26 2019.9 0.93 0.95 12.34 11.37 64.12 125.12 4% 6% 16.62 16.59 54.57 56.64 20.78 37.5 0.15 0.29 15.82 23.55 86.6

30 Jagatjit Industries Ltd. Liquors 451.39 549.93 0.52 0.63 0.70 1.04 40.81 46.6 9% 8% 59.73 53.39 61.38 57.67 50.4 59.15 1.51 1.76 23.13 20.3 87.4

31 Saraswati Sugar Mills Ltd. Sugar 297.21 313.53 0.90 1.13 2.15 2.63 31.99 2.81 11% 1% 8.05 9.66 67.51 33.26 12.29 10.87 0.21 0.18 86.06 105.45 88.5

32 Ruchi Soya Inds. Ltd. Soyabean oil 8642.39 11067.61 0.92 0.94 7.25 8.38 343.43 481.72 4% 4% 31.62 30.95 65.06 96.48 33.05 43.06 1.41 1.16 17.15 20.06 88.6

33 S S A International Ltd. Rice 292.62 381.77 1.04 1.00 11.15 14.34 12.88 20.4 4% 5% 20.93 16.45 21.97 32.28 53.18 57.16 0 0.01 43.02 58.11 89.4

34 Milkfood Ltd. Ghee 310.94 323.06 0.84 0.90 3.01 3.40 14.25 15.97 5% 5% 13.07 11.85 49.54 52.95 5.77 5.08 2.89 3.49 33.14 28 89.5

food And beverAges

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers64

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 67: Reinventing the Supply Chain

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 65

69 Bhushan Steel Ltd. Cold rolled coils, strips, sheets 3874 4228.05 0.83 0.85 0.89 0.57 899.7 1186.21 23% 28% 41.08 45.35 76.91 108.87 40.16 58.47 13.45 14.38 16.32 25.96 137.0

70 Vikash Metal & Power Ltd. Sponge iron 169.63 335.13 0.99 0.85 1.26 1.75 18.23 31.14 11% 9% 58.49 71.85 112.99 132.54 117.27 163.08 39.67 28.17 13.85 11 139.8

71 L G Balakrishnan & Bros. Ltd. Chains & anchors of iron & steel 484.51 550.51 0.65 0.63 1.39 1.43 78.52 75.08 16% 14% 52.14 56.02 78.89 69.89 67.3 69.6 37.07 47.46 27.54 28.36 141.3

72 Indian Steel Corpn. Ltd. Clad, plated or coated flat rolled 427.8 716 1.07 0.88 1.73 2.23 25.68 52.32 6% 7% 16.01 28.1 103.02 119.38 46.81 49.96 21.51 20.47 16.74 19.09 142.4

73 Sathavahana Ispat Ltd. Pig iron 249.26 356.53 0.84 0.99 0.88 1.40 37.65 85.84 15% 24% 38.22 29.5 149.95 192.42 76.61 54.66 3.79 3.5 61.76 89.84 142.9

74 P S L Ltd. Tubes & pipes 1442.36 2043.92 0.86 0.71 2.69 3.17 187.91 235.37 13% 12% 73.78 45.67 125.57 131.06 65.21 51.29 55.91 55.32 40.64 36.02 151.9

75 Usha Martin Ltd. Wires & ropes of iron & steel 1411.51 1686.65 0.62 0.63 0.74 0.73 295.69 378.79 21% 22% 50.91 48.88 122.16 196.8 57.74 81.05 20.65 22.84 33.39 35.22 152.5

76 Essar Steel Ltd. Hot rolled coils, strips 8220.72 10931.45 0.67 0.55 0.55 0.61 1879.48 2187.96 23% 20% 22.62 14 165.11 124.6 115.6 101.71 24.85 29.67 17.38 16.94 153.5

77 Adhunik Metaliks Ltd. Iron & steel 790.21 1050.04 0.77 0.72 1.09 0.89 124.73 183.72 16% 17% 38.2 47.83 79.25 112 81.9 68.85 13.55 45.93 21.67 28.5 156.1

78 Visa Steel Ltd. Pig iron 548.77 692.44 0.71 1.03 0.63 0.71 65.64 123.97 12% 18% 29.27 37.28 139.14 250.11 146.87 154.3 1.52 2.79 26.42 38.48 157.9

79 J S L Ltd. Flat products 4967.79 5255.21 0.74 0.99 0.98 1.09 915.93 848.69 18% 16% 32.44 42.71 137.86 157.98 47.74 62.51 14.62 25.13 23.68 40.77 165.7

1 Vimal Oil & Foods Ltd. Cotton seed oil 492.48 635.01 0.95 0.93 32.14 28.96 11.34 16.21 2% 3% 30.76 27.25 34.69 26.09 23.31 27.01 0.27 0.12 10.4 10.9 54.5

2 Shiva Distilleries Ltd. Indian made foreign liquors 284.87 342 0.32 0.33 7.47 8.97 19.99 37.63 7% 11% 6.9 9.22 24.94 22.64 19.11 21.72 4.05 3.59 1.43 0.31 57.3

3 John Distilleries Ltd. Indian made foreign liquors 184.83 314.61 0.79 0.74 6.36 7.67 15.54 20.45 8% 7% NA 24.33 28.27 12.81 NA 19.52 NA 4.73 NA 1.65 58.9

4 Vijay Solvex Ltd. Vanaspati 535.45 646.64 0.86 0.96 14.93 18.62 16.95 22.36 3% 3% 18.49 18.14 18.7 16.86 14.87 18.79 0.39 0.39 11.18 12.09 59.6

5 Hatsun Agro Products Ltd. Milk 589.16 867.24 0.83 0.85 3.39 4.22 35.13 56.06 6% 6% 3.61 4.25 26.67 28.82 5.48 5.6 1.34 1.61 3.4 7 61.1

6 Parle Biscuits Pvt. Ltd. Biscuits 1344.09 1560.3 0.70 0.62 4.30 2.61 136.72 226.33 10% 15% 1.32 3.7 20.08 27.74 10.19 12.06 0.01 0.24 14.85 20.45 62.5

7 Hind Agro Inds. Ltd. Meat of buffaloes 473.1 359.58 0.81 0.85 4.08 3.43 29.41 20.06 6% 6% 34.95 53.01 24.72 33.23 2.09 2.47 0.16 0.68 34.54 51.59 63.5

8 Balaji Distilleries Ltd. Indian made foreign liquors 424.85 535.19 0.31 0.33 1.10 1.39 24.27 143.07 6% 27% 6.53 7.19 54.51 57.41 14.96 17.63 4.09 3.84 0.69 0.26 65.9

9 Modern Dairies Ltd. Skimmed milk powder 173.19 412.89 1.09 0.95 1.86 3.56 8.32 28.81 5% 7% 32.09 22.87 44.99 27.59 5.43 4.72 0.66 0.79 31.94 29.83 67.3

10 Britannia Industries Ltd. Biscuits 2264.51 2596.46 0.65 0.57 6.91 5.87 147.47 267.75 7% 10% 3.99 5.45 37.46 37.46 35.4 45.99 0.05 0.03 9.91 10.64 68.0

11 Kwality Dairy (India) Ltd. Dairy products 149.64 333.1 1.00 0.97 21.79 38.70 8.44 12.76 6% 4% 50.72 48.49 75.98 71.19 2.64 1.16 0 2.05 34.71 22.29 69.2

12 Pepsico India Holdings Pvt. Ltd. Soft drinks 2062.6 2419.7 0.47 0.47 1.14 1.24 221.47 225.6 11% 9% NA 19.75 67.44 73.14 NA 51.92 NA 0.16 NA 7.98 70.2

13 Heritage Foods (India) Ltd. Milk 346.47 618.95 0.86 0.84 2.60 2.48 10.76 23.68 3% 4% 3.65 4.35 35.84 40.56 20.18 16.01 0.05 0.07 21.81 16.87 71.3

14 Varun Beverages Ltd. Soft drinks 323.11 367.18 0.65 0.67 0.71 0.77 56.18 61.32 17% 17% 28.32 32.57 71.24 64.15 44.76 46.84 2.1 1.75 6.33 6.55 71.6

15 Vikas W S P Ltd. Guar gum 249.26 318.04 0.66 0.71 0.58 0.42 60.29 94.96 24% 30% 83.94 64.7 35.41 35.07 179.28 81.67 0 0.03 15.49 21.4 71.8

16 Kohinoor Foods Ltd. Rice 589.92 634.3 0.92 1.02 8.62 9.34 59.26 45.03 10% 7% 50.52 70.06 21.76 15.64 41.19 31.19 0.11 0.13 204.87 241.41 73.1

17 Sanwaria Agro Oils Ltd. Soyabean oil cake 374.16 750.06 0.87 0.84 3.89 4.80 20.53 77.59 5% 10% 15.95 17.83 24.15 24.73 74.14 83.94 0.44 0.55 8.66 9.61 73.3

18 Godrej Agrovet Ltd. Animal and bird feeds 692.04 1235.08 0.88 0.88 5.40 8.50 23.88 79.11 3% 6% 33.91 18.61 76.41 56.3 42.8 30.49 2.49 0.84 20.17 13.08 73.3

19 Tinna Oils & Chemicals Ltd. Edible oils 380.94 488.89 0.84 0.89 9.94 14.43 12.2 26.96 3% 6% 23.47 25.65 11.05 12.33 23.17 26.6 8.05 7.27 10.1 11.33 74.9

20 B C L Industries & Infrastructures Ltd. Edible oils 205.89 404.93 0.87 0.89 14.68 22.02 6.03 8.31 3% 2% 18.19 11.43 56.4 32.18 43.53 33.6 3.44 2.82 11.98 6.93 77.3

21 United Spirits Ltd. Ethyl alcohol (strength less than 80%) 2992.15 3134.19 0.35 0.39 2.26 2.30 765.03 643.4 26% 21% 27.01 25.92 44.89 53.07 28.2 31.91 26.55 28.52 8.98 8.88 79.1

22 Radico Khaitan Ltd. Indian made foreign liquors 571.03 805.68 0.39 0.48 0.68 0.99 91.18 104.37 16% 13% 41.59 40.51 27.41 25.02 50.59 54.86 4.83 5.42 10.38 9.55 80.6

23 Riddhi Siddhi Gluco Biols Ltd. Starches 333.53 332.99 0.76 0.77 1.02 0.88 54.9 55.71 16% 17% 55.27 68.35 26.33 24.38 95.47 114.69 4.91 7.75 4.42 5.75 81.1

24 Sakthi Sugars Ltd. Sugar 809.24 695.91 0.61 0.69 0.79 0.53 200.13 157.12 25% 23% 20.67 23.8 54.84 77.29 32.27 30.71 2.23 2.34 10.85 14.24 81.5

25 Amrit Banaspati Co. Ltd. Vanaspati 630.97 759.53 0.89 0.93 16.34 19.97 12.08 9.8 2% 1% 3.88 6.77 24.51 24.17 14.71 22.15 2.81 3.7 6.93 10.75 81.8

26 Gujarat Ambuja Exports Ltd. Soyabean oil cake 1407.72 1845.58 0.88 0.87 4.74 6.03 105.71 159.22 8% 9% 17.17 15.75 9.14 21.57 53.83 54.27 0.78 0.53 22.75 26.39 82.5

27 Kanpur Edibles Pvt. Ltd. Vanaspati 363.71 668.13 0.94 0.95 26.38 36.04 5.97 9.14 2% 1% NA 14.81 30.67 50.66 NA 31.52 NA 4.74 NA 5.24 85.4

28 Skol Breweries Ltd. Beer 882.45 1135.55 0.31 0.36 0.34 0.40 139.2 147.03 16% 13% 46.56 46.69 96.98 87.56 33.83 34.61 7.22 7.1 7.08 9.33 86.1

29 Gokul Refoils & Solvent Ltd. Edible oils 1532.26 2019.9 0.93 0.95 12.34 11.37 64.12 125.12 4% 6% 16.62 16.59 54.57 56.64 20.78 37.5 0.15 0.29 15.82 23.55 86.6

30 Jagatjit Industries Ltd. Liquors 451.39 549.93 0.52 0.63 0.70 1.04 40.81 46.6 9% 8% 59.73 53.39 61.38 57.67 50.4 59.15 1.51 1.76 23.13 20.3 87.4

31 Saraswati Sugar Mills Ltd. Sugar 297.21 313.53 0.90 1.13 2.15 2.63 31.99 2.81 11% 1% 8.05 9.66 67.51 33.26 12.29 10.87 0.21 0.18 86.06 105.45 88.5

32 Ruchi Soya Inds. Ltd. Soyabean oil 8642.39 11067.61 0.92 0.94 7.25 8.38 343.43 481.72 4% 4% 31.62 30.95 65.06 96.48 33.05 43.06 1.41 1.16 17.15 20.06 88.6

33 S S A International Ltd. Rice 292.62 381.77 1.04 1.00 11.15 14.34 12.88 20.4 4% 5% 20.93 16.45 21.97 32.28 53.18 57.16 0 0.01 43.02 58.11 89.4

34 Milkfood Ltd. Ghee 310.94 323.06 0.84 0.90 3.01 3.40 14.25 15.97 5% 5% 13.07 11.85 49.54 52.95 5.77 5.08 2.89 3.49 33.14 28 89.5

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

large manufacturing companies

Page 68: Reinventing the Supply Chain

35 Nestle India Ltd. Dairy products 2811.06 3498.16 0.51 0.54 2.45 2.81 547.25 704.2 19% 20% 5.66 5.73 55.24 53.74 28.24 28.31 6.29 6.13 19.08 19.06 89.8

36 Venky'S (India) Ltd. Poultry 412.19 525.08 0.80 0.76 2.84 3.25 31.83 59.05 8% 11% 37.19 32.3 43.24 34.95 25.77 28.87 10.93 15.03 26.92 22.66 90.3

37 Godfrey Phillips India Ltd. Cigarettes 763.83 899.2 0.41 0.47 2.46 2.77 157.22 193.17 21% 21% 3.28 4.01 22.65 35.71 188.76 228.14 1.72 2.05 11.24 11.23 90.4

38 Shree Renuka Sugars Ltd. Sugar 802.94 733.7 0.89 0.58 1.59 0.55 96.92 119.86 12% 16% 16.2 22.18 41.28 48.28 41.63 36.48 2.35 2.08 30.12 36.7 90.6

39 J V L Agro Inds. Ltd. Vanaspati 685.19 1159.63 0.91 0.93 13.75 19.88 19.63 36.63 3% 3% 9.72 15.28 81.85 105.54 57.32 61.6 3.6 1.34 11.52 9.53 93.1

40 Balrampur Chini Mills Ltd. Sugar 1920.65 1384.57 0.37 1.14 0.50 0.81 473.25 118.77 25% 9% 7.9 12.51 50.64 73.07 19.35 17.86 1.65 0.25 62.97 62.37 93.1

41 Ruchi Infrastructure Ltd. Edible oils 884.58 983.87 0.85 0.98 7.06 4.53 50.57 75.25 6% 8% 18.96 30.43 56.79 97.14 17.79 29.65 5.02 4.01 15.59 19.5 94.4

42 Tinna Agro Inds. Ltd. Edible oils 240.79 316.47 0.96 0.94 8.03 11.10 7.03 13.61 3% 4% 18.54 17.32 12.68 27.01 14.14 34.77 8.68 8.32 12.26 15.44 95.1

43 E I D-Parry (India) Ltd. Sugar 660.73 675.7 0.97 0.76 1.27 0.78 223.8 43.11 34% 6% 127.51 53.68 115.89 80.03 8.59 9.23 4.43 4.78 55.07 82.46 96.0

44 Anik Industries Ltd. Dairy products 475.22 750.91 1.07 1.05 6.72 8.48 29.67 54.98 6% 7% 74.88 64.39 150.37 118.11 8.86 4.5 19.64 13.67 25.05 42.06 96.1

45 Adani Wilmar Ltd. Edible oils 2689.6 3446.36 0.81 0.92 8.11 11.41 97.49 152.25 4% 4% 12.56 11.36 67.31 107.7 24.06 49.71 0.51 0.53 28.74 20.64 97.5

46 Marico Ltd. Edible oils 1368.1 1566.89 0.54 0.54 6.89 5.83 202.02 216.72 15% 14% 12.6 10.11 88.2 52.12 41.5 40.79 8.98 11.74 15.71 19.19 98.3

47 Ugar Sugar Works Ltd. Sugar 174.43 437.59 1.93 0.39 1.86 0.78 20.03 62.16 11% 14% 40.27 22.61 297.34 110.44 17.72 18.48 2.54 3.24 216.46 151.33 100.0

48 Bannari Amman Sugars Ltd. Sugar 665.84 541.06 0.72 0.96 1.24 1.19 153.38 85.7 23% 16% 36.26 50.16 67.9 72.38 21 23.61 2.58 3.17 121.73 175.58 100.0

49 Dhampur Sugar Mills Ltd. Sugar 982.78 609.98 0.59 1.19 1.00 0.74 214.48 19.22 22% 3% 17.3 28.59 47.05 130.28 29.98 20 1.6 0.49 30.32 52.06 100.1

50 Tata Coffee Ltd. Coffee 267.97 325.88 0.46 0.50 0.51 0.66 51 62.04 19% 19% 43.34 55.94 87.52 81.68 67.34 63.04 2.81 2.19 98.73 73.04 100.8

51 Rajshree Sugars & Chemicals Ltd. Sugar 380.88 335.72 0.73 0.77 1.22 0.73 53.97 18.83 14% 6% 17.45 24.91 92.53 159.73 11.61 12.12 2 2.44 82.18 88.85 101.2

52 V S T Industries Ltd. Cigarettes 322.11 345.7 0.50 0.51 1.64 1.45 94.35 100 29% 29% 2.29 2.26 85.26 98.55 179.47 212.48 3.02 3.5 7.24 7.59 102.8

53 I T C Ltd. Cigarettes 12503.01 14400.6 0.52 0.49 1.11 0.91 4334.59 5056.8 35% 35% 11.64 12.19 54.2 58.57 187.64 199.56 2.46 2.89 20.85 21.32 102.8

54 Thiru Arooran Sugars Ltd. Sugar 285.19 344.94 0.68 0.46 1.39 1.07 54.18 11 19% 3% 7.82 9.84 113.7 132.58 19.9 13.8 1.68 1.92 162.51 113.57 102.9

55 Glaxosmithkline Consumer Healthcare Ltd. Malted milk foods 1132.87 1322.37 0.35 0.39 1.55 2.14 236.83 293.24 21% 22% 8.11 7.32 66.21 66.26 36.32 43.39 6.08 4.35 30.34 31.09 103.5

56 Godavari Sugar Mills Ltd. Sugar 470.95 577.5 0.78 0.66 1.71 1.64 44.22 51.82 9% 9% 28.36 18.13 60.7 52.79 37.89 36.8 2.73 3.13 125.3 117.47 103.6

57 Cadbury India Ltd. Chocolate confectionery 1058.14 1282.63 0.36 0.41 1.56 1.94 147.13 196.31 14% 15% 4.67 3.92 96.63 103.55 36.65 39.85 9.24 8.24 18.74 16.61 107.4

58 Upper Ganges Sugar & Inds. Ltd. Sugar 416.83 319.82 0.61 1.33 1.45 1.14 74.35 -7.61 18% -2% 3.37 6.1 30.35 101.23 11.52 8.73 3.61 1.55 109.88 138.94 111.6

59 Desai Brothers Ltd. Bidis 411.12 467.49 0.71 0.74 5.85 7.60 67.73 86.29 16% 18% 2.78 3.01 74.3 75.57 107.62 163.24 3.85 5.28 19.79 22.36 117.3

60 Oudh Sugar Mills Ltd. Sugar 506.37 441.55 0.60 1.04 1.31 1.10 112.4 9.4 22% 2% 2.55 4.74 36.18 108.59 14.63 12.42 1.91 2.09 113 119.12 117.5

61 Shree Ambika Sugars Ltd. Sugar 422.6 357.39 0.62 0.82 0.74 0.67 98.84 31.97 23% 9% 44.03 62.53 126.93 174.99 101.74 64.58 2.8 2.49 113.6 130.56 118.9

62 Olam Exports (India) Ltd. Cashew nuts 933.29 1269.39 1.23 1.07 80.31 76.85 34.49 48.96 4% 4% 7.9 20.26 44.99 33.82 101.77 91.09 6.44 10.21 67.39 88.1 122.4

63 V V F Ltd. Other fixed vegetable fats & oils nec 810.96 1108.4 0.68 0.88 1.12 1.73 124.25 155.19 15% 14% 51.16 56.51 125.12 170.26 122.95 86.25 37.19 22.77 39.52 42.05 122.8

64 Foods, Fats & Fertilisers Ltd. Vegetable oils 307.02 461.53 0.90 0.77 3.78 4.56 29.76 42.14 10% 9% 31.55 23.5 98.37 103.3 93.9 133.13 28.7 31.57 30.66 26.95 123.0

1 Sudhir Gensets Ltd. Generating sets with diesel engines 620.1 779.82 0.70 0.74 4.85 4.62 146.6 173.83 24% 22% 23.96 27.86 61.17 64.65 30.04 42.47 0.8 1.98 1.08 2.58 16.0

2 Areva T & D India Ltd. Switching apparatus 1614.56 2007.87 0.77 0.69 10.99 6.08 231.98 374.79 14% 19% 110.96 137.35 162.38 189.55 28.84 32.61 36.32 36.2 0.81 0.83 17.8

3 Crompton Greaves Ltd. Motors & generators 3403.45 4093.03 0.77 0.70 6.08 5.53 379.46 563.25 11% 14% 74.2 74.39 94.91 99.6 11.8 15.53 17.34 16.62 5.06 4.38 17.9

4 Bilpower Ltd. Stampings & laminations 223.27 308.48 0.84 0.99 19.92 7.70 27.5 37.1 12% 12% 100.96 122.16 36.13 55.53 6.2 10.92 28.58 20.42 11.47 12.46 18.1

5 Siemens Ltd. Switching apparatus 4654.14 7938.13 0.49 0.37 5.52 5.21 549.89 923.66 12% 12% 73.97 78.14 196.12 143.61 27.23 26.78 4.23 2.67 8.34 5.27 18.7

6 Powerica Ltd. Generating sets with diesel engines 644.22 819.44 0.68 0.72 7.69 5.95 111.84 136.06 17% 17% 38.15 39.34 91.99 91.83 41.87 41.98 6.85 5.33 3.61 3.24 18.8

7 A B B Ltd. Switchgears, nec 4306.17 5968.1 0.74 0.71 9.56 9.29 550.4 799.32 13% 13% 105.49 116.49 169.9 184.05 51.27 61.87 15.26 17.82 2.06 2.57 20.0

8 Bharat Bijlee Ltd. Transformers 474.82 565.25 0.74 0.73 10.36 7.38 91.32 117.45 19% 21% 82.28 89.48 91.17 84.95 17.85 20.66 27.01 30.83 10.54 10.45 20.1

9 Igarashi Motors India Ltd. AC motors, others 260.49 306.81 0.79 0.76 2.02 2.27 25.55 34.55 10% 11% 71.72 77.73 73.39 87.52 47.33 40.39 5.46 4.96 4.91 5.25 21.2

10 Transformers & Rectifiers (India) Ltd. Transformers 218.25 306.2 0.81 0.79 8.65 6.48 30.96 58.88 14% 19% 87.49 101.15 123.64 90.92 32.41 25.17 38.95 46.6 3.7 6.87 21.9

11 Legrand (India) Pvt. Ltd. Automatic circuit breakers 239.67 322.31 0.75 0.69 6.81 7.47 47.78 50.82 20% 16% 81.59 90.71 90.98 85.86 52.55 46.3 18.84 16.91 26.92 23.61 22.0

12 Kaytee Switchgear Ltd. [Merged] Motors & generators 330.88 404.08 0.78 0.81 2.04 2.58 34.49 49.28 10% 12% 72.73 68.56 116.62 106.57 13.62 13.05 26.07 22.04 5.48 5 22.9

13 Anchor Electricals Pvt. Ltd. Switching apparatus 845.82 830.52 0.86 0.61 4.58 2.30 132.02 41.61 16% 5% 104.95 128.68 249.74 81.55 70.72 70.35 11.9 13.21 61.81 75.57 23.1

14 Vijai Electricals Ltd. Transformers 1325.08 1334.5 0.58 0.70 1.97 1.78 255.63 189.5 19% 14% 77.17 111.28 98.95 131.38 85.45 91.54 7.81 15.88 7.88 8.63 25.0

generAtors And power equipment

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers66

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 69: Reinventing the Supply Chain

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 67

35 Nestle India Ltd. Dairy products 2811.06 3498.16 0.51 0.54 2.45 2.81 547.25 704.2 19% 20% 5.66 5.73 55.24 53.74 28.24 28.31 6.29 6.13 19.08 19.06 89.8

36 Venky'S (India) Ltd. Poultry 412.19 525.08 0.80 0.76 2.84 3.25 31.83 59.05 8% 11% 37.19 32.3 43.24 34.95 25.77 28.87 10.93 15.03 26.92 22.66 90.3

37 Godfrey Phillips India Ltd. Cigarettes 763.83 899.2 0.41 0.47 2.46 2.77 157.22 193.17 21% 21% 3.28 4.01 22.65 35.71 188.76 228.14 1.72 2.05 11.24 11.23 90.4

38 Shree Renuka Sugars Ltd. Sugar 802.94 733.7 0.89 0.58 1.59 0.55 96.92 119.86 12% 16% 16.2 22.18 41.28 48.28 41.63 36.48 2.35 2.08 30.12 36.7 90.6

39 J V L Agro Inds. Ltd. Vanaspati 685.19 1159.63 0.91 0.93 13.75 19.88 19.63 36.63 3% 3% 9.72 15.28 81.85 105.54 57.32 61.6 3.6 1.34 11.52 9.53 93.1

40 Balrampur Chini Mills Ltd. Sugar 1920.65 1384.57 0.37 1.14 0.50 0.81 473.25 118.77 25% 9% 7.9 12.51 50.64 73.07 19.35 17.86 1.65 0.25 62.97 62.37 93.1

41 Ruchi Infrastructure Ltd. Edible oils 884.58 983.87 0.85 0.98 7.06 4.53 50.57 75.25 6% 8% 18.96 30.43 56.79 97.14 17.79 29.65 5.02 4.01 15.59 19.5 94.4

42 Tinna Agro Inds. Ltd. Edible oils 240.79 316.47 0.96 0.94 8.03 11.10 7.03 13.61 3% 4% 18.54 17.32 12.68 27.01 14.14 34.77 8.68 8.32 12.26 15.44 95.1

43 E I D-Parry (India) Ltd. Sugar 660.73 675.7 0.97 0.76 1.27 0.78 223.8 43.11 34% 6% 127.51 53.68 115.89 80.03 8.59 9.23 4.43 4.78 55.07 82.46 96.0

44 Anik Industries Ltd. Dairy products 475.22 750.91 1.07 1.05 6.72 8.48 29.67 54.98 6% 7% 74.88 64.39 150.37 118.11 8.86 4.5 19.64 13.67 25.05 42.06 96.1

45 Adani Wilmar Ltd. Edible oils 2689.6 3446.36 0.81 0.92 8.11 11.41 97.49 152.25 4% 4% 12.56 11.36 67.31 107.7 24.06 49.71 0.51 0.53 28.74 20.64 97.5

46 Marico Ltd. Edible oils 1368.1 1566.89 0.54 0.54 6.89 5.83 202.02 216.72 15% 14% 12.6 10.11 88.2 52.12 41.5 40.79 8.98 11.74 15.71 19.19 98.3

47 Ugar Sugar Works Ltd. Sugar 174.43 437.59 1.93 0.39 1.86 0.78 20.03 62.16 11% 14% 40.27 22.61 297.34 110.44 17.72 18.48 2.54 3.24 216.46 151.33 100.0

48 Bannari Amman Sugars Ltd. Sugar 665.84 541.06 0.72 0.96 1.24 1.19 153.38 85.7 23% 16% 36.26 50.16 67.9 72.38 21 23.61 2.58 3.17 121.73 175.58 100.0

49 Dhampur Sugar Mills Ltd. Sugar 982.78 609.98 0.59 1.19 1.00 0.74 214.48 19.22 22% 3% 17.3 28.59 47.05 130.28 29.98 20 1.6 0.49 30.32 52.06 100.1

50 Tata Coffee Ltd. Coffee 267.97 325.88 0.46 0.50 0.51 0.66 51 62.04 19% 19% 43.34 55.94 87.52 81.68 67.34 63.04 2.81 2.19 98.73 73.04 100.8

51 Rajshree Sugars & Chemicals Ltd. Sugar 380.88 335.72 0.73 0.77 1.22 0.73 53.97 18.83 14% 6% 17.45 24.91 92.53 159.73 11.61 12.12 2 2.44 82.18 88.85 101.2

52 V S T Industries Ltd. Cigarettes 322.11 345.7 0.50 0.51 1.64 1.45 94.35 100 29% 29% 2.29 2.26 85.26 98.55 179.47 212.48 3.02 3.5 7.24 7.59 102.8

53 I T C Ltd. Cigarettes 12503.01 14400.6 0.52 0.49 1.11 0.91 4334.59 5056.8 35% 35% 11.64 12.19 54.2 58.57 187.64 199.56 2.46 2.89 20.85 21.32 102.8

54 Thiru Arooran Sugars Ltd. Sugar 285.19 344.94 0.68 0.46 1.39 1.07 54.18 11 19% 3% 7.82 9.84 113.7 132.58 19.9 13.8 1.68 1.92 162.51 113.57 102.9

55 Glaxosmithkline Consumer Healthcare Ltd. Malted milk foods 1132.87 1322.37 0.35 0.39 1.55 2.14 236.83 293.24 21% 22% 8.11 7.32 66.21 66.26 36.32 43.39 6.08 4.35 30.34 31.09 103.5

56 Godavari Sugar Mills Ltd. Sugar 470.95 577.5 0.78 0.66 1.71 1.64 44.22 51.82 9% 9% 28.36 18.13 60.7 52.79 37.89 36.8 2.73 3.13 125.3 117.47 103.6

57 Cadbury India Ltd. Chocolate confectionery 1058.14 1282.63 0.36 0.41 1.56 1.94 147.13 196.31 14% 15% 4.67 3.92 96.63 103.55 36.65 39.85 9.24 8.24 18.74 16.61 107.4

58 Upper Ganges Sugar & Inds. Ltd. Sugar 416.83 319.82 0.61 1.33 1.45 1.14 74.35 -7.61 18% -2% 3.37 6.1 30.35 101.23 11.52 8.73 3.61 1.55 109.88 138.94 111.6

59 Desai Brothers Ltd. Bidis 411.12 467.49 0.71 0.74 5.85 7.60 67.73 86.29 16% 18% 2.78 3.01 74.3 75.57 107.62 163.24 3.85 5.28 19.79 22.36 117.3

60 Oudh Sugar Mills Ltd. Sugar 506.37 441.55 0.60 1.04 1.31 1.10 112.4 9.4 22% 2% 2.55 4.74 36.18 108.59 14.63 12.42 1.91 2.09 113 119.12 117.5

61 Shree Ambika Sugars Ltd. Sugar 422.6 357.39 0.62 0.82 0.74 0.67 98.84 31.97 23% 9% 44.03 62.53 126.93 174.99 101.74 64.58 2.8 2.49 113.6 130.56 118.9

62 Olam Exports (India) Ltd. Cashew nuts 933.29 1269.39 1.23 1.07 80.31 76.85 34.49 48.96 4% 4% 7.9 20.26 44.99 33.82 101.77 91.09 6.44 10.21 67.39 88.1 122.4

63 V V F Ltd. Other fixed vegetable fats & oils nec 810.96 1108.4 0.68 0.88 1.12 1.73 124.25 155.19 15% 14% 51.16 56.51 125.12 170.26 122.95 86.25 37.19 22.77 39.52 42.05 122.8

64 Foods, Fats & Fertilisers Ltd. Vegetable oils 307.02 461.53 0.90 0.77 3.78 4.56 29.76 42.14 10% 9% 31.55 23.5 98.37 103.3 93.9 133.13 28.7 31.57 30.66 26.95 123.0

1 Sudhir Gensets Ltd. Generating sets with diesel engines 620.1 779.82 0.70 0.74 4.85 4.62 146.6 173.83 24% 22% 23.96 27.86 61.17 64.65 30.04 42.47 0.8 1.98 1.08 2.58 16.0

2 Areva T & D India Ltd. Switching apparatus 1614.56 2007.87 0.77 0.69 10.99 6.08 231.98 374.79 14% 19% 110.96 137.35 162.38 189.55 28.84 32.61 36.32 36.2 0.81 0.83 17.8

3 Crompton Greaves Ltd. Motors & generators 3403.45 4093.03 0.77 0.70 6.08 5.53 379.46 563.25 11% 14% 74.2 74.39 94.91 99.6 11.8 15.53 17.34 16.62 5.06 4.38 17.9

4 Bilpower Ltd. Stampings & laminations 223.27 308.48 0.84 0.99 19.92 7.70 27.5 37.1 12% 12% 100.96 122.16 36.13 55.53 6.2 10.92 28.58 20.42 11.47 12.46 18.1

5 Siemens Ltd. Switching apparatus 4654.14 7938.13 0.49 0.37 5.52 5.21 549.89 923.66 12% 12% 73.97 78.14 196.12 143.61 27.23 26.78 4.23 2.67 8.34 5.27 18.7

6 Powerica Ltd. Generating sets with diesel engines 644.22 819.44 0.68 0.72 7.69 5.95 111.84 136.06 17% 17% 38.15 39.34 91.99 91.83 41.87 41.98 6.85 5.33 3.61 3.24 18.8

7 A B B Ltd. Switchgears, nec 4306.17 5968.1 0.74 0.71 9.56 9.29 550.4 799.32 13% 13% 105.49 116.49 169.9 184.05 51.27 61.87 15.26 17.82 2.06 2.57 20.0

8 Bharat Bijlee Ltd. Transformers 474.82 565.25 0.74 0.73 10.36 7.38 91.32 117.45 19% 21% 82.28 89.48 91.17 84.95 17.85 20.66 27.01 30.83 10.54 10.45 20.1

9 Igarashi Motors India Ltd. AC motors, others 260.49 306.81 0.79 0.76 2.02 2.27 25.55 34.55 10% 11% 71.72 77.73 73.39 87.52 47.33 40.39 5.46 4.96 4.91 5.25 21.2

10 Transformers & Rectifiers (India) Ltd. Transformers 218.25 306.2 0.81 0.79 8.65 6.48 30.96 58.88 14% 19% 87.49 101.15 123.64 90.92 32.41 25.17 38.95 46.6 3.7 6.87 21.9

11 Legrand (India) Pvt. Ltd. Automatic circuit breakers 239.67 322.31 0.75 0.69 6.81 7.47 47.78 50.82 20% 16% 81.59 90.71 90.98 85.86 52.55 46.3 18.84 16.91 26.92 23.61 22.0

12 Kaytee Switchgear Ltd. [Merged] Motors & generators 330.88 404.08 0.78 0.81 2.04 2.58 34.49 49.28 10% 12% 72.73 68.56 116.62 106.57 13.62 13.05 26.07 22.04 5.48 5 22.9

13 Anchor Electricals Pvt. Ltd. Switching apparatus 845.82 830.52 0.86 0.61 4.58 2.30 132.02 41.61 16% 5% 104.95 128.68 249.74 81.55 70.72 70.35 11.9 13.21 61.81 75.57 23.1

14 Vijai Electricals Ltd. Transformers 1325.08 1334.5 0.58 0.70 1.97 1.78 255.63 189.5 19% 14% 77.17 111.28 98.95 131.38 85.45 91.54 7.81 15.88 7.88 8.63 25.0

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

large manufacturing companies

Page 70: Reinventing the Supply Chain

1 Gujarat Guardian Ltd. Float glass & surface polished glass 462.56 423 0.30 0.33 0.78 0.97 194.38 147.01 42% 35% 29.71 32.66 53.65 46.17 62.7 58.41 4.88 9.37 13.88 8.32 13.1

2 Hindusthan National Glass & Inds. Ltd. Glass containers 518.48 1026.25 0.58 0.59 0.82 0.68 102.39 240.04 20% 23% 57.49 42.6 52.51 57.04 77.57 62.77 2.67 1.68 32.64 19.66 14.8

3 Owens-Corning (India) Ltd. Glass fibres 253.88 307.25 0.64 0.49 0.44 0.43 50.02 68.2 20% 22% 39.29 61.53 119.21 75.19 87.47 74.2 1.33 1.98 18.24 16.57 15.5

4 Vesuvius India Ltd. Other refractories 271.09 321.36 0.62 0.61 2.39 2.41 42.22 60.68 16% 19% 104.29 98.35 74.34 77.25 87.42 76.69 13.62 12.17 9.83 8.82 18.1

5 Tata Refractories Ltd. Other refractories 459.44 528.32 0.73 0.76 1.78 2.28 56.53 61.27 12% 12% 65.37 67.58 62.06 56.34 48.84 58.64 18.58 16.51 18.13 21.97 19.8

6 Piramal Glass Ltd. Vials for injectables 399.43 489.65 0.39 0.51 0.28 0.36 112.92 133.81 28% 27% 77.56 104.69 57.55 80.73 116.65 120.82 8.67 2.71 17.93 25.03 20.4

7 Graphite India Ltd. Graphite carbon bricks 874.93 1129.01 0.63 0.56 1.07 1.27 302.93 267.74 35% 24% 96.44 98.76 79 82.58 73.74 64.47 84.85 88.11 15.02 17.11 20.7

8 Somany Ceramics Ltd. Ceramic tiles 275.64 330.16 0.57 0.56 1.28 1.33 30.31 35.81 11% 11% 59.1 64.14 97.02 70.11 98.26 83.15 4.91 3.5 50.1 38.3 20.7

9 H E G Ltd. Graphite carbon bricks 837.85 962.29 0.63 0.51 0.77 0.77 201.57 301.99 24% 31% 68.65 91.23 36.6 44.19 127.91 131 67.65 91.95 12.48 11.66 20.9

10 Parryware Roca Pvt. Ltd. Ceramic sinks, wash basins, etc. 275.46 343 0.63 0.75 1.27 1.93 38.78 40.54 14% 12% 19.35 20.69 56.67 57.75 54.35 51.2 7.62 7.77 46.19 54.66 21.7

11 H S I L Ltd. Ceramic sinks, wash basins, etc. 479.77 522.24 0.63 0.66 1.20 1.32 84.7 87.67 18% 17% 62.22 56.87 76.2 74.09 72.12 77.78 5.55 6.77 67.98 70.61 23.6

12 Asahi India Glass Ltd. Toughened & laminated (safety) glass 777.25 1048.68 0.68 0.68 0.41 0.55 201.1 209.66 26% 20% 21.69 29.39 92.41 64.39 108.93 111.11 5.33 5.86 40.56 57.82 26.5

13 Kajaria Ceramics Ltd. Ceramic tiles 411.36 503.69 0.87 0.78 1.00 1.16 55.47 84.16 13% 17% 47.48 46.23 53.15 56.28 71.08 90.74 8.89 9.03 54.41 72.94 27.4

14 H & R Johnson (India) Ltd. Glazed ceramic tiles, paving & flags 899.42 1011 0.70 0.73 1.46 1.81 76.92 75.5 9% 7% 24.12 26.45 78.21 79.62 139.26 151.36 7.11 7.72 31.15 25.32 29.3

15 Nitco Ltd. Ceramic tiles 415.95 578.31 1.00 0.77 2.01 1.76 73.7 85.42 18% 15% 31.92 41.02 87.15 81.63 84.8 85.94 8.5 9.46 98.14 98.97 31.5

1 Simpson & Co. Ltd. Diesel engines 604.86 618.13 0.76 0.76 6.30 5.58 116.45 107.7 19% 17% 79.83 88.68 53.01 44.89 24.89 26.78 4.73 5.21 2.41 3.08 20.9

2 Tata Cummins Ltd. Other engines 1316.03 1520.98 0.80 0.82 4.72 3.39 187.57 212.15 14% 14% 13.07 17.39 43.13 45.42 15.3 22.16 3.05 4.14 2.43 1.48 24.4

3 Audco India Ltd. Valves 690.57 865.34 0.77 0.77 6.96 6.62 90.1 117.88 13% 14% 111.5 106.4 101.46 91.97 30.09 25.42 17.39 16.93 1.7 2.56 29.1

4 Thermax Ltd. Steam boilers 2186.67 3228.79 0.74 0.74 8.93 7.18 310.7 453.55 14% 14% 53.44 52.82 186.18 127.49 32.39 28.01 9.95 10.25 1.75 0.94 29.7

5 Lakshmi Machine Works Ltd. Textile spinning machines 1954.22 2348.71 0.65 0.65 3.30 2.75 374.64 486.83 19% 21% 8.7 8.95 172.48 129.17 37.37 28.28 5.12 5.13 1.66 1.98 30.1

6 Ion Exchange (India) Ltd. Water treatment plants 408.97 479.7 0.78 0.80 6.46 5.89 22.32 27.11 5% 6% 133.82 138.16 147.88 142.13 22.57 30.37 3.09 4.27 5.56 5.43 32.1

7 Paharpur Cooling Towers Ltd. Industrial cooling towers 666.83 862.27 0.59 0.58 6.18 5.18 140.65 184.08 21% 21% 97.57 96.95 107.41 103.74 46.5 44.53 24.01 24 4.35 3.97 33.1

8 Cummins India Ltd. Internal combustion engines 1917.39 2425.74 0.71 0.72 7.54 6.86 380.91 429.77 20% 18% 69.62 67.89 61.79 77.31 53.48 50.39 18.76 16.11 1.93 2.17 34.7

9 Greaves Cotton Ltd. Diesel engines 844.8 1071.55 0.73 0.73 4.71 3.61 156.21 178.16 18% 17% 41.78 36.04 86.68 80.38 31.24 34.04 6.51 4.97 7.27 6.65 34.9

10 Ingersoll-Rand (India) Ltd. Compressors 622.21 542.7 0.75 0.67 11.23 16.04 81.94 312.14 13% 58% 75.19 86.25 101.23 74.27 69.32 74.88 10.81 12.16 6.63 9.88 35.0

11 S K F India Ltd. Ball or roller bearings 1345.83 1577.83 0.73 0.69 5.36 5.56 188.1 283.03 14% 18% 33.41 39.62 65.45 61.5 35.3 31.15 6.99 7.38 26.16 24.76 35.2

12 Kirloskar Brothers Ltd. Pumps 1563.33 1552.37 0.60 0.76 5.85 6.01 397.74 188.97 25% 12% 93.9 91.87 158 179.41 17.96 22.74 15.46 15.63 7.01 5.36 35.5

13 Elgi Equipments Ltd. Compressors 379.73 454.23 0.73 0.69 7.09 6.40 42.36 63.1 11% 14% 57.42 50.85 69.07 68.05 40.17 38.96 8.5 8.35 12.54 13.98 35.9

14 Kirloskar Oil Engines Ltd. Internal combustion engines 1983.48 2212.66 0.71 0.74 4.25 2.30 279.67 260.71 14% 12% 62.26 58.54 89.78 90.45 31.12 33.2 7.58 8.76 3.75 4.59 37.8

15 Timken India Ltd. Tapered roller bearing, incl. cone 334.42 345.04 0.62 0.64 3.50 3.52 68.58 67.31 21% 20% 57.2 61.24 44.95 59.5 47.27 46.21 11.38 10.02 24.75 31.4 39.2

16 Kirloskar Pneumatic Co. Ltd. Compressors 354.32 400.26 0.69 0.72 7.59 6.67 60.16 44.24 17% 11% 92.58 100.45 110.29 124.99 39.65 42.97 23.76 31.84 3.48 5.33 40.2

17 Cmi F P E Ltd. Other industrial machinery 511.37 327 0.78 0.84 11.67 8.15 32.02 26.05 6% 8% 87.29 130.37 102.17 119.51 13.23 27.69 41.18 50.32 0 15.28 43.3

18 Atlas Copco (India) Ltd. Compressors 739.2 971.87 0.74 0.78 3.85 4.65 138.09 158.09 19% 16% 83.14 89.93 92.32 97.89 63.63 61.79 4.7 7.31 24.1 33.3 44.1

19 F A G Bearings India Ltd. Ball or roller bearings 546.32 651.41 0.63 0.59 2.47 2.72 127.93 144.34 23% 22% 44.91 48.36 61.85 62.77 69.75 65.91 12.96 12.8 23.95 27.67 44.4

20 Praj Industries Ltd. Brewery machinery 615.71 738.64 0.68 0.55 9.00 3.82 113.78 179.94 18% 24% 46.11 70.86 253.95 200.98 34.93 66.21 11.9 17.89 7.54 7.45 44.7

21 Bharat Heavy Electricals Ltd. Prime movers 17777.54 20481.28 0.55 0.60 7.50 7.41 4038.06 4751.25 23% 23% 190.01 216.83 273.98 326.1 77.14 80.94 55.85 68.49 9.07 9.82 45.2

22 Alfa Laval (India) Ltd. Machinery used in food & beverage 600.42 704.74 0.62 0.67 5.97 5.71 114.07 144.04 19% 20% 101.69 88 120.7 116.54 74.06 89.28 18.72 12.41 14.86 18.67 45.7

23 Lohia Starlinger Ltd. Weaving machines 269.84 317.96 0.63 0.73 2.23 2.33 53.62 41.64 20% 13% NA 19.25 73.34 71.36 NA 88.59 NA 26.76 NA 1.46 47.5

24 Manugraph India Ltd. Printing machinery 379.23 454.07 0.56 0.67 3.59 4.17 81.93 107.25 22% 24% 17.92 26.36 110.92 111.54 48.8 45.12 25.96 13.75 52.08 45.01 47.6

25 Walchandnagar Industries Ltd. Industrial machinery 358.98 636.54 0.74 0.70 1.69 2.55 27.35 63.38 8% 10% 96.58 74.99 244 169.75 66.64 50.02 57.63 40.87 5.9 3.58 48.7

26 N R B Bearings Ltd. Ball or roller bearings 305.59 326.85 0.50 0.49 1.19 1.00 80.96 76.16 26% 23% 66.44 78.39 49.26 67.23 61.46 67.03 30.68 33.26 33.62 37.66 48.8

27 K S B Pumps Ltd. Pumps 406.05 470.71 0.56 0.67 3.30 3.54 87.4 80.58 22% 17% 63.25 68.75 104.96 104.99 70.72 57.1 65.59 67.62 14.27 11.42 50.1

28 Heavy Engineering Corpn. Ltd. Mining, construction & earth moving 278.48 383.68 0.58 0.52 2.45 2.31 27.49 35.24 10% 9% 159.24 148.69 645.05 505.17 134.36 91.94 96.32 74.54 14.6 17.93 58.3

non electricAl mAchinery

glAss And cerAmics

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers68

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 71: Reinventing the Supply Chain

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 69

1 Gujarat Guardian Ltd. Float glass & surface polished glass 462.56 423 0.30 0.33 0.78 0.97 194.38 147.01 42% 35% 29.71 32.66 53.65 46.17 62.7 58.41 4.88 9.37 13.88 8.32 13.1

2 Hindusthan National Glass & Inds. Ltd. Glass containers 518.48 1026.25 0.58 0.59 0.82 0.68 102.39 240.04 20% 23% 57.49 42.6 52.51 57.04 77.57 62.77 2.67 1.68 32.64 19.66 14.8

3 Owens-Corning (India) Ltd. Glass fibres 253.88 307.25 0.64 0.49 0.44 0.43 50.02 68.2 20% 22% 39.29 61.53 119.21 75.19 87.47 74.2 1.33 1.98 18.24 16.57 15.5

4 Vesuvius India Ltd. Other refractories 271.09 321.36 0.62 0.61 2.39 2.41 42.22 60.68 16% 19% 104.29 98.35 74.34 77.25 87.42 76.69 13.62 12.17 9.83 8.82 18.1

5 Tata Refractories Ltd. Other refractories 459.44 528.32 0.73 0.76 1.78 2.28 56.53 61.27 12% 12% 65.37 67.58 62.06 56.34 48.84 58.64 18.58 16.51 18.13 21.97 19.8

6 Piramal Glass Ltd. Vials for injectables 399.43 489.65 0.39 0.51 0.28 0.36 112.92 133.81 28% 27% 77.56 104.69 57.55 80.73 116.65 120.82 8.67 2.71 17.93 25.03 20.4

7 Graphite India Ltd. Graphite carbon bricks 874.93 1129.01 0.63 0.56 1.07 1.27 302.93 267.74 35% 24% 96.44 98.76 79 82.58 73.74 64.47 84.85 88.11 15.02 17.11 20.7

8 Somany Ceramics Ltd. Ceramic tiles 275.64 330.16 0.57 0.56 1.28 1.33 30.31 35.81 11% 11% 59.1 64.14 97.02 70.11 98.26 83.15 4.91 3.5 50.1 38.3 20.7

9 H E G Ltd. Graphite carbon bricks 837.85 962.29 0.63 0.51 0.77 0.77 201.57 301.99 24% 31% 68.65 91.23 36.6 44.19 127.91 131 67.65 91.95 12.48 11.66 20.9

10 Parryware Roca Pvt. Ltd. Ceramic sinks, wash basins, etc. 275.46 343 0.63 0.75 1.27 1.93 38.78 40.54 14% 12% 19.35 20.69 56.67 57.75 54.35 51.2 7.62 7.77 46.19 54.66 21.7

11 H S I L Ltd. Ceramic sinks, wash basins, etc. 479.77 522.24 0.63 0.66 1.20 1.32 84.7 87.67 18% 17% 62.22 56.87 76.2 74.09 72.12 77.78 5.55 6.77 67.98 70.61 23.6

12 Asahi India Glass Ltd. Toughened & laminated (safety) glass 777.25 1048.68 0.68 0.68 0.41 0.55 201.1 209.66 26% 20% 21.69 29.39 92.41 64.39 108.93 111.11 5.33 5.86 40.56 57.82 26.5

13 Kajaria Ceramics Ltd. Ceramic tiles 411.36 503.69 0.87 0.78 1.00 1.16 55.47 84.16 13% 17% 47.48 46.23 53.15 56.28 71.08 90.74 8.89 9.03 54.41 72.94 27.4

14 H & R Johnson (India) Ltd. Glazed ceramic tiles, paving & flags 899.42 1011 0.70 0.73 1.46 1.81 76.92 75.5 9% 7% 24.12 26.45 78.21 79.62 139.26 151.36 7.11 7.72 31.15 25.32 29.3

15 Nitco Ltd. Ceramic tiles 415.95 578.31 1.00 0.77 2.01 1.76 73.7 85.42 18% 15% 31.92 41.02 87.15 81.63 84.8 85.94 8.5 9.46 98.14 98.97 31.5

1 Simpson & Co. Ltd. Diesel engines 604.86 618.13 0.76 0.76 6.30 5.58 116.45 107.7 19% 17% 79.83 88.68 53.01 44.89 24.89 26.78 4.73 5.21 2.41 3.08 20.9

2 Tata Cummins Ltd. Other engines 1316.03 1520.98 0.80 0.82 4.72 3.39 187.57 212.15 14% 14% 13.07 17.39 43.13 45.42 15.3 22.16 3.05 4.14 2.43 1.48 24.4

3 Audco India Ltd. Valves 690.57 865.34 0.77 0.77 6.96 6.62 90.1 117.88 13% 14% 111.5 106.4 101.46 91.97 30.09 25.42 17.39 16.93 1.7 2.56 29.1

4 Thermax Ltd. Steam boilers 2186.67 3228.79 0.74 0.74 8.93 7.18 310.7 453.55 14% 14% 53.44 52.82 186.18 127.49 32.39 28.01 9.95 10.25 1.75 0.94 29.7

5 Lakshmi Machine Works Ltd. Textile spinning machines 1954.22 2348.71 0.65 0.65 3.30 2.75 374.64 486.83 19% 21% 8.7 8.95 172.48 129.17 37.37 28.28 5.12 5.13 1.66 1.98 30.1

6 Ion Exchange (India) Ltd. Water treatment plants 408.97 479.7 0.78 0.80 6.46 5.89 22.32 27.11 5% 6% 133.82 138.16 147.88 142.13 22.57 30.37 3.09 4.27 5.56 5.43 32.1

7 Paharpur Cooling Towers Ltd. Industrial cooling towers 666.83 862.27 0.59 0.58 6.18 5.18 140.65 184.08 21% 21% 97.57 96.95 107.41 103.74 46.5 44.53 24.01 24 4.35 3.97 33.1

8 Cummins India Ltd. Internal combustion engines 1917.39 2425.74 0.71 0.72 7.54 6.86 380.91 429.77 20% 18% 69.62 67.89 61.79 77.31 53.48 50.39 18.76 16.11 1.93 2.17 34.7

9 Greaves Cotton Ltd. Diesel engines 844.8 1071.55 0.73 0.73 4.71 3.61 156.21 178.16 18% 17% 41.78 36.04 86.68 80.38 31.24 34.04 6.51 4.97 7.27 6.65 34.9

10 Ingersoll-Rand (India) Ltd. Compressors 622.21 542.7 0.75 0.67 11.23 16.04 81.94 312.14 13% 58% 75.19 86.25 101.23 74.27 69.32 74.88 10.81 12.16 6.63 9.88 35.0

11 S K F India Ltd. Ball or roller bearings 1345.83 1577.83 0.73 0.69 5.36 5.56 188.1 283.03 14% 18% 33.41 39.62 65.45 61.5 35.3 31.15 6.99 7.38 26.16 24.76 35.2

12 Kirloskar Brothers Ltd. Pumps 1563.33 1552.37 0.60 0.76 5.85 6.01 397.74 188.97 25% 12% 93.9 91.87 158 179.41 17.96 22.74 15.46 15.63 7.01 5.36 35.5

13 Elgi Equipments Ltd. Compressors 379.73 454.23 0.73 0.69 7.09 6.40 42.36 63.1 11% 14% 57.42 50.85 69.07 68.05 40.17 38.96 8.5 8.35 12.54 13.98 35.9

14 Kirloskar Oil Engines Ltd. Internal combustion engines 1983.48 2212.66 0.71 0.74 4.25 2.30 279.67 260.71 14% 12% 62.26 58.54 89.78 90.45 31.12 33.2 7.58 8.76 3.75 4.59 37.8

15 Timken India Ltd. Tapered roller bearing, incl. cone 334.42 345.04 0.62 0.64 3.50 3.52 68.58 67.31 21% 20% 57.2 61.24 44.95 59.5 47.27 46.21 11.38 10.02 24.75 31.4 39.2

16 Kirloskar Pneumatic Co. Ltd. Compressors 354.32 400.26 0.69 0.72 7.59 6.67 60.16 44.24 17% 11% 92.58 100.45 110.29 124.99 39.65 42.97 23.76 31.84 3.48 5.33 40.2

17 Cmi F P E Ltd. Other industrial machinery 511.37 327 0.78 0.84 11.67 8.15 32.02 26.05 6% 8% 87.29 130.37 102.17 119.51 13.23 27.69 41.18 50.32 0 15.28 43.3

18 Atlas Copco (India) Ltd. Compressors 739.2 971.87 0.74 0.78 3.85 4.65 138.09 158.09 19% 16% 83.14 89.93 92.32 97.89 63.63 61.79 4.7 7.31 24.1 33.3 44.1

19 F A G Bearings India Ltd. Ball or roller bearings 546.32 651.41 0.63 0.59 2.47 2.72 127.93 144.34 23% 22% 44.91 48.36 61.85 62.77 69.75 65.91 12.96 12.8 23.95 27.67 44.4

20 Praj Industries Ltd. Brewery machinery 615.71 738.64 0.68 0.55 9.00 3.82 113.78 179.94 18% 24% 46.11 70.86 253.95 200.98 34.93 66.21 11.9 17.89 7.54 7.45 44.7

21 Bharat Heavy Electricals Ltd. Prime movers 17777.54 20481.28 0.55 0.60 7.50 7.41 4038.06 4751.25 23% 23% 190.01 216.83 273.98 326.1 77.14 80.94 55.85 68.49 9.07 9.82 45.2

22 Alfa Laval (India) Ltd. Machinery used in food & beverage 600.42 704.74 0.62 0.67 5.97 5.71 114.07 144.04 19% 20% 101.69 88 120.7 116.54 74.06 89.28 18.72 12.41 14.86 18.67 45.7

23 Lohia Starlinger Ltd. Weaving machines 269.84 317.96 0.63 0.73 2.23 2.33 53.62 41.64 20% 13% NA 19.25 73.34 71.36 NA 88.59 NA 26.76 NA 1.46 47.5

24 Manugraph India Ltd. Printing machinery 379.23 454.07 0.56 0.67 3.59 4.17 81.93 107.25 22% 24% 17.92 26.36 110.92 111.54 48.8 45.12 25.96 13.75 52.08 45.01 47.6

25 Walchandnagar Industries Ltd. Industrial machinery 358.98 636.54 0.74 0.70 1.69 2.55 27.35 63.38 8% 10% 96.58 74.99 244 169.75 66.64 50.02 57.63 40.87 5.9 3.58 48.7

26 N R B Bearings Ltd. Ball or roller bearings 305.59 326.85 0.50 0.49 1.19 1.00 80.96 76.16 26% 23% 66.44 78.39 49.26 67.23 61.46 67.03 30.68 33.26 33.62 37.66 48.8

27 K S B Pumps Ltd. Pumps 406.05 470.71 0.56 0.67 3.30 3.54 87.4 80.58 22% 17% 63.25 68.75 104.96 104.99 70.72 57.1 65.59 67.62 14.27 11.42 50.1

28 Heavy Engineering Corpn. Ltd. Mining, construction & earth moving 278.48 383.68 0.58 0.52 2.45 2.31 27.49 35.24 10% 9% 159.24 148.69 645.05 505.17 134.36 91.94 96.32 74.54 14.6 17.93 58.3

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

large manufacturing companies

Page 72: Reinventing the Supply Chain

1 Transpek-Silox Industry Ltd. Zinc products, nec 314.54 347.87 0.80 0.81 4.43 4.86 28.83 28.23 9% 8% NA 75 68.32 65.34 NA 11.36 NA 1.4 NA 4.75 9.6

2 Sterlite Industries (India) Ltd. Copper 11957.35 13481.76 0.89 0.88 6.11 6.94 1212.94 1399.4 10% 10% 21.83 23.69 34.26 21.74 24.62 35.99 23.06 26.97 2.22 1.76 11.3

3 Bharat Aluminium Co. Ltd. Aluminium, unwrought 4234.89 4246.05 0.52 0.56 0.65 0.72 1744.23 1344.45 41% 32% 9.1 15.67 53.32 37.35 94.34 94.03 18.57 17.81 2.53 1.27 12.3

4 Madras Aluminium Co. Ltd. Aluminium, unwrought 422.74 493.11 0.50 0.69 0.78 1.13 170.01 99.88 40% 20% 34.96 27.4 97.64 104.6 39.55 40.41 38.86 28.2 5.45 0.83 12.9

5 Hindalco Industries Ltd. Aluminium, unwrought 18545.24 19624.79 0.72 0.74 1.58 1.64 4353.7 4749.05 23% 24% 25.58 27.03 59.55 58.45 56.2 58.1 62.15 61.99 3.82 4.69 15.0

6 Binani Zinc Ltd. Zinc, unwrought 582.69 480.66 0.86 0.85 5.73 4.69 35.51 24.06 6% 5% 0.7 0.88 101.49 58.46 94.38 86.51 1.19 2.78 7.36 9.86 17.4

7 Hindustan Zinc Ltd. Zinc 8726.76 8509.18 0.08 0.09 0.23 0.18 6659.39 6310.12 76% 74% 24.67 20.89 81.51 85.44 94.86 112.5 16.58 16.99 23.25 22.86 18.0

8 Tinplate Co. Of India Ltd. Tin plates, sheets & strips 462.72 407.4 0.65 0.66 1.08 0.66 72.32 47.1 16% 12% 24.25 22.43 100.33 125.84 81.07 140.43 15.1 19.85 4.32 1.83 18.0

9 Hindustan Copper Ltd. Copper 1573.97 1657.44 0.52 0.56 1.63 1.74 393.66 346.35 25% 21% 9.72 10.02 132.26 97.08 99 63.71 75.56 86.31 12.19 9.5 19.7

10 Jhagadia Copper Ltd. Refined copper & alloys, unwrought 232.33 399.07 1.01 1.00 0.17 0.31 5.3 -47.1 2% -12% 19.2 12.38 89.58 78.05 75.54 32.84 44.65 41.59 11.24 11.38 21.1

11 National Aluminium Co. Ltd. Aluminium, unwrought 6187.58 5394.61 0.26 0.35 0.36 0.32 3971.08 2826.58 64% 52% 3.99 5.73 107.34 149.79 205.83 218.18 31.05 29.52 10.06 10.52 22.9

1 Ballarpur Industries Ltd. Paper 1890.39 2179.68 0.48 0.49 0.41 0.48 525.66 580.27 28% 27% 41.06 48.93 49.8 43.73 107.02 89.88 3.87 3 11.15 10.56 12.5

2 Rama Newsprint & Papers Ltd. Newsprint 353.92 356.79 0.56 0.76 0.45 0.62 92.02 62 26% 17% 53.81 51.79 52.93 68.19 80.84 89.64 0.46 1.51 2.95 10.02 12.6

3 Century Plyboards (India) Ltd. Plywood 395.36 545.57 0.73 0.73 3.74 5.22 45.36 86.09 11% 16% 44.06 48.21 52.42 63.82 95.28 77.65 2.85 2.29 27.51 23.46 15.0

4 Andhra Pradesh Paper Mills Ltd. Paper 493.59 603.96 0.63 0.53 0.37 0.38 87.31 117.3 18% 19% 21.22 23.72 90.53 82.25 88.84 75.63 5.33 8.24 5.01 10.15 16.5

5 Hindustan Paper Corpn. Ltd. Writing, printing paper 769.65 812.16 0.51 0.55 1.15 1.31 146.88 157.37 19% 19% 48.09 65.47 115.23 107.54 197.72 171.26 0.52 1.39 16.57 11.37 16.7

6 Tamil Nadu Newsprint & Papers Ltd. Writing, printing paper 897.18 990.28 0.55 0.54 0.42 0.46 208.9 273.02 23% 28% 44.94 34.76 98.06 102.73 163.97 162.82 4.76 4.44 0 0.22 18.5

7 J K Paper Ltd. Paper 767.01 666.53 0.44 0.49 0.43 0.41 147.98 126.05 19% 19% 45.1 55.05 50.02 81.78 64.14 94.27 6.05 10.45 8.83 12.33 18.5

8 Bharatiya Reserve Bank Note Mudran Printing of bank notes, currency notes 1022.58 1109.86 0.66 0.79 1.23 1.59 322.96 325.96 32% 29% 49.64 36.78 21.88 35.71 104.61 83.95 38.01 33.87 12.15 29.8 19.2

9 West Coast Paper Mills Ltd. Paper 557.58 589.18 0.52 0.56 1.29 1.45 100.94 123.78 18% 21% 24.16 24.15 64.25 78.79 108.01 103.19 4.67 3.11 15.94 14.89 19.3

10 Navneet Publications (India) Ltd. Printed books, brochures, etc. 322.74 398.01 0.69 0.63 3.36 3.75 73.53 86.89 23% 22% 48.38 43.15 16.77 27.69 97.97 94.12 10.36 12.22 94.08 91.41 19.8

11 Mysore Paper Mills Ltd. Newsprint 404.44 391.14 0.84 0.76 1.78 1.57 39.35 37.47 10% 10% 57.71 54.77 84.87 71.32 157.5 206.82 1.05 1.37 42.73 51.99 20.3

12 Greenply Industries Ltd. Plywood 372.93 526.41 0.61 0.73 1.51 2.56 49.54 84.29 13% 16% 49.24 49.56 91.26 94.82 109.53 103.28 11.48 10.42 14.36 19.27 21.7

1 Mangalore Refinery & Petrochemicals Ltd. Petroleum products (Refineries) 28184.99 32538.18 0.99 0.93 6.39 7.38 1629.22 2313.99 6% 7% 13.54 16.87 34.01 48.76 15.78 19.23 1.55 1.78 10.53 13.44 11.5

2 Rain C I I Carbon (India) Ltd. Petroleum coke 431.21 546.79 0.31 0.77 0.48 1.30 165.68 65.99 38% 12% 4.63 23.25 34.37 28.34 79 60.34 6.07 0.92 1.41 18.61 13.6

3 Chennai Petroleum Corpn. Ltd. Petroleum products (Refineries) 24644.23 28221.48 0.96 0.93 7.25 7.88 1306.88 2173.94 5% 8% 13.56 13.87 31.57 30.15 26.08 26.92 3.89 5.07 16.67 19.04 15.5

4 Bharat Petroleum Corpn. Ltd. Petroleum products (Refineries) 97000.43 111223.9 0.92 0.92 7.57 8.00 4197.51 4286.97 4% 4% 5.41 5.24 35.74 41.68 16.08 20.36 3.98 3.81 22.61 19.34 16.1

5 Bharat Shell Ltd. Lube oils & lubricants 438 510.49 0.72 0.67 6.26 6.70 27.13 91.59 6% 18% 33.74 33.83 47.85 55.67 44.63 45.16 2.28 2.04 30.15 33.63 16.8

6 Reliance Industries Ltd. Petroleum products (Refineries) 110793.99 139758.15 0.75 0.70 1.16 1.16 20532.13 28990.11 19% 21% 12.18 13.05 60.93 65.18 24.25 29.4 8.02 6.44 14.6 12.04 17.5

7 Savita Oil Technologies Ltd. Lube oils & lubricants 827.56 937.53 0.81 0.75 6.39 5.67 73.44 103.68 9% 11% 71.67 73.64 93.8 113.07 63.21 61.98 5.44 4.63 15.66 15.92 17.7

8 Bongaigaon Refinery & Petrochemicals Petroleum products (Refineries) 5674.26 5988.91 0.90 0.92 10.63 7.38 328.95 488.53 6% 8% 13.54 16.89 27.54 47.19 28.26 33.41 3.9 5.41 16.07 19.6 19.4

9 Hindustan Petroleum Corpn. Ltd. Petroleum products (Refineries) 90054.96 106209.52 0.97 0.97 6.72 6.77 3522.89 3300.54 4% 3% 5.77 5.56 32.41 37.63 18.98 27.18 3.67 4.14 20.04 22.03 20.0

10 Numaligarh Refinery Ltd. Petroleum products (Refineries) 6988.47 7868.27 0.83 0.92 2.76 3.45 763.42 593.97 11% 8% 11.02 14.37 45.9 63.45 11.9 13.04 5.27 5.37 27.49 23.14 20.1

11 Gulf Oil Corpn. Ltd. Lube oils & lubricants 636.67 769.44 0.63 0.57 2.57 0.22 61.09 69.53 10% 9% 80.26 76.66 99.68 62.27 59.97 55.19 5.65 7.69 21.42 19.33 21.1

12 Indian Oil Corpn. Ltd. Petroleum products (Refineries) 221146.86 249640.63 0.88 0.90 5.14 5.37 14617.69 14534.37 7% 6% 10.67 9.68 43.52 46 43 45.77 6.42 6.61 19.57 18.28 21.3

1 Max India Ltd. Biaxially oriented polypropylene 186.9 353.39 0.71 0.66 0.77 1.30 31.68 90.96 17% 26% 56.28 54.1 415.74 43.55 32.32 26.94 5.3 6.49 0.83 1.19 15.9

2 Cosmo Films Ltd. Biaxially oriented polypropylene 533.41 586.16 0.69 0.70 1.72 1.91 71.91 99.05 13% 17% 50.89 52.25 26.4 29.3 49.65 48.82 1.98 1.61 11.45 7.71 19.7

3 Ester Industries Ltd. Polyester film 291.46 331.85 0.76 0.75 1.49 1.76 12.86 37.7 4% 11% 46.92 49.73 30.71 33.77 26.21 29.45 6.14 5.75 8.69 6.42 21.4

4 Uflex Ltd. Plastic packaging goods 1239.03 1363.76 0.76 0.71 1.01 0.91 182.99 216.55 15% 16% 59.18 67.44 62.9 71.9 14.75 21.08 9.1 13.77 2.54 2.86 21.7

5 Supreme Petrochem Ltd. Polystyrene 1429.16 1504.21 0.89 0.92 4.73 5.39 67.3 88.56 5% 6% 21.81 24.64 40.78 31.97 18.36 11.08 1.16 0.96 12.97 12.69 22.2

6 South Asian Petrochem Ltd. Polyethylene terephthalate (PET) 1026.04 1042.5 0.83 0.74 2.42 2.15 107.01 128.34 10% 12% 56.87 42.32 94.05 75.37 22.33 33.66 0.55 0.6 19.43 17.43 25.0

7 Positive Packaging Inds. Ltd. Plastic laminated sheets 334.88 338.17 0.75 0.81 2.27 2.69 41.45 41.95 12% 12% 63.83 67.74 34.55 47.32 54.65 56.03 7.54 8.51 3.91 6.15 25.9

pAper And wood products

petroleum products

non ferrous metAls

plAstics And polymers

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers70

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 73: Reinventing the Supply Chain

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 71

1 Transpek-Silox Industry Ltd. Zinc products, nec 314.54 347.87 0.80 0.81 4.43 4.86 28.83 28.23 9% 8% NA 75 68.32 65.34 NA 11.36 NA 1.4 NA 4.75 9.6

2 Sterlite Industries (India) Ltd. Copper 11957.35 13481.76 0.89 0.88 6.11 6.94 1212.94 1399.4 10% 10% 21.83 23.69 34.26 21.74 24.62 35.99 23.06 26.97 2.22 1.76 11.3

3 Bharat Aluminium Co. Ltd. Aluminium, unwrought 4234.89 4246.05 0.52 0.56 0.65 0.72 1744.23 1344.45 41% 32% 9.1 15.67 53.32 37.35 94.34 94.03 18.57 17.81 2.53 1.27 12.3

4 Madras Aluminium Co. Ltd. Aluminium, unwrought 422.74 493.11 0.50 0.69 0.78 1.13 170.01 99.88 40% 20% 34.96 27.4 97.64 104.6 39.55 40.41 38.86 28.2 5.45 0.83 12.9

5 Hindalco Industries Ltd. Aluminium, unwrought 18545.24 19624.79 0.72 0.74 1.58 1.64 4353.7 4749.05 23% 24% 25.58 27.03 59.55 58.45 56.2 58.1 62.15 61.99 3.82 4.69 15.0

6 Binani Zinc Ltd. Zinc, unwrought 582.69 480.66 0.86 0.85 5.73 4.69 35.51 24.06 6% 5% 0.7 0.88 101.49 58.46 94.38 86.51 1.19 2.78 7.36 9.86 17.4

7 Hindustan Zinc Ltd. Zinc 8726.76 8509.18 0.08 0.09 0.23 0.18 6659.39 6310.12 76% 74% 24.67 20.89 81.51 85.44 94.86 112.5 16.58 16.99 23.25 22.86 18.0

8 Tinplate Co. Of India Ltd. Tin plates, sheets & strips 462.72 407.4 0.65 0.66 1.08 0.66 72.32 47.1 16% 12% 24.25 22.43 100.33 125.84 81.07 140.43 15.1 19.85 4.32 1.83 18.0

9 Hindustan Copper Ltd. Copper 1573.97 1657.44 0.52 0.56 1.63 1.74 393.66 346.35 25% 21% 9.72 10.02 132.26 97.08 99 63.71 75.56 86.31 12.19 9.5 19.7

10 Jhagadia Copper Ltd. Refined copper & alloys, unwrought 232.33 399.07 1.01 1.00 0.17 0.31 5.3 -47.1 2% -12% 19.2 12.38 89.58 78.05 75.54 32.84 44.65 41.59 11.24 11.38 21.1

11 National Aluminium Co. Ltd. Aluminium, unwrought 6187.58 5394.61 0.26 0.35 0.36 0.32 3971.08 2826.58 64% 52% 3.99 5.73 107.34 149.79 205.83 218.18 31.05 29.52 10.06 10.52 22.9

1 Ballarpur Industries Ltd. Paper 1890.39 2179.68 0.48 0.49 0.41 0.48 525.66 580.27 28% 27% 41.06 48.93 49.8 43.73 107.02 89.88 3.87 3 11.15 10.56 12.5

2 Rama Newsprint & Papers Ltd. Newsprint 353.92 356.79 0.56 0.76 0.45 0.62 92.02 62 26% 17% 53.81 51.79 52.93 68.19 80.84 89.64 0.46 1.51 2.95 10.02 12.6

3 Century Plyboards (India) Ltd. Plywood 395.36 545.57 0.73 0.73 3.74 5.22 45.36 86.09 11% 16% 44.06 48.21 52.42 63.82 95.28 77.65 2.85 2.29 27.51 23.46 15.0

4 Andhra Pradesh Paper Mills Ltd. Paper 493.59 603.96 0.63 0.53 0.37 0.38 87.31 117.3 18% 19% 21.22 23.72 90.53 82.25 88.84 75.63 5.33 8.24 5.01 10.15 16.5

5 Hindustan Paper Corpn. Ltd. Writing, printing paper 769.65 812.16 0.51 0.55 1.15 1.31 146.88 157.37 19% 19% 48.09 65.47 115.23 107.54 197.72 171.26 0.52 1.39 16.57 11.37 16.7

6 Tamil Nadu Newsprint & Papers Ltd. Writing, printing paper 897.18 990.28 0.55 0.54 0.42 0.46 208.9 273.02 23% 28% 44.94 34.76 98.06 102.73 163.97 162.82 4.76 4.44 0 0.22 18.5

7 J K Paper Ltd. Paper 767.01 666.53 0.44 0.49 0.43 0.41 147.98 126.05 19% 19% 45.1 55.05 50.02 81.78 64.14 94.27 6.05 10.45 8.83 12.33 18.5

8 Bharatiya Reserve Bank Note Mudran Printing of bank notes, currency notes 1022.58 1109.86 0.66 0.79 1.23 1.59 322.96 325.96 32% 29% 49.64 36.78 21.88 35.71 104.61 83.95 38.01 33.87 12.15 29.8 19.2

9 West Coast Paper Mills Ltd. Paper 557.58 589.18 0.52 0.56 1.29 1.45 100.94 123.78 18% 21% 24.16 24.15 64.25 78.79 108.01 103.19 4.67 3.11 15.94 14.89 19.3

10 Navneet Publications (India) Ltd. Printed books, brochures, etc. 322.74 398.01 0.69 0.63 3.36 3.75 73.53 86.89 23% 22% 48.38 43.15 16.77 27.69 97.97 94.12 10.36 12.22 94.08 91.41 19.8

11 Mysore Paper Mills Ltd. Newsprint 404.44 391.14 0.84 0.76 1.78 1.57 39.35 37.47 10% 10% 57.71 54.77 84.87 71.32 157.5 206.82 1.05 1.37 42.73 51.99 20.3

12 Greenply Industries Ltd. Plywood 372.93 526.41 0.61 0.73 1.51 2.56 49.54 84.29 13% 16% 49.24 49.56 91.26 94.82 109.53 103.28 11.48 10.42 14.36 19.27 21.7

1 Mangalore Refinery & Petrochemicals Ltd. Petroleum products (Refineries) 28184.99 32538.18 0.99 0.93 6.39 7.38 1629.22 2313.99 6% 7% 13.54 16.87 34.01 48.76 15.78 19.23 1.55 1.78 10.53 13.44 11.5

2 Rain C I I Carbon (India) Ltd. Petroleum coke 431.21 546.79 0.31 0.77 0.48 1.30 165.68 65.99 38% 12% 4.63 23.25 34.37 28.34 79 60.34 6.07 0.92 1.41 18.61 13.6

3 Chennai Petroleum Corpn. Ltd. Petroleum products (Refineries) 24644.23 28221.48 0.96 0.93 7.25 7.88 1306.88 2173.94 5% 8% 13.56 13.87 31.57 30.15 26.08 26.92 3.89 5.07 16.67 19.04 15.5

4 Bharat Petroleum Corpn. Ltd. Petroleum products (Refineries) 97000.43 111223.9 0.92 0.92 7.57 8.00 4197.51 4286.97 4% 4% 5.41 5.24 35.74 41.68 16.08 20.36 3.98 3.81 22.61 19.34 16.1

5 Bharat Shell Ltd. Lube oils & lubricants 438 510.49 0.72 0.67 6.26 6.70 27.13 91.59 6% 18% 33.74 33.83 47.85 55.67 44.63 45.16 2.28 2.04 30.15 33.63 16.8

6 Reliance Industries Ltd. Petroleum products (Refineries) 110793.99 139758.15 0.75 0.70 1.16 1.16 20532.13 28990.11 19% 21% 12.18 13.05 60.93 65.18 24.25 29.4 8.02 6.44 14.6 12.04 17.5

7 Savita Oil Technologies Ltd. Lube oils & lubricants 827.56 937.53 0.81 0.75 6.39 5.67 73.44 103.68 9% 11% 71.67 73.64 93.8 113.07 63.21 61.98 5.44 4.63 15.66 15.92 17.7

8 Bongaigaon Refinery & Petrochemicals Petroleum products (Refineries) 5674.26 5988.91 0.90 0.92 10.63 7.38 328.95 488.53 6% 8% 13.54 16.89 27.54 47.19 28.26 33.41 3.9 5.41 16.07 19.6 19.4

9 Hindustan Petroleum Corpn. Ltd. Petroleum products (Refineries) 90054.96 106209.52 0.97 0.97 6.72 6.77 3522.89 3300.54 4% 3% 5.77 5.56 32.41 37.63 18.98 27.18 3.67 4.14 20.04 22.03 20.0

10 Numaligarh Refinery Ltd. Petroleum products (Refineries) 6988.47 7868.27 0.83 0.92 2.76 3.45 763.42 593.97 11% 8% 11.02 14.37 45.9 63.45 11.9 13.04 5.27 5.37 27.49 23.14 20.1

11 Gulf Oil Corpn. Ltd. Lube oils & lubricants 636.67 769.44 0.63 0.57 2.57 0.22 61.09 69.53 10% 9% 80.26 76.66 99.68 62.27 59.97 55.19 5.65 7.69 21.42 19.33 21.1

12 Indian Oil Corpn. Ltd. Petroleum products (Refineries) 221146.86 249640.63 0.88 0.90 5.14 5.37 14617.69 14534.37 7% 6% 10.67 9.68 43.52 46 43 45.77 6.42 6.61 19.57 18.28 21.3

1 Max India Ltd. Biaxially oriented polypropylene 186.9 353.39 0.71 0.66 0.77 1.30 31.68 90.96 17% 26% 56.28 54.1 415.74 43.55 32.32 26.94 5.3 6.49 0.83 1.19 15.9

2 Cosmo Films Ltd. Biaxially oriented polypropylene 533.41 586.16 0.69 0.70 1.72 1.91 71.91 99.05 13% 17% 50.89 52.25 26.4 29.3 49.65 48.82 1.98 1.61 11.45 7.71 19.7

3 Ester Industries Ltd. Polyester film 291.46 331.85 0.76 0.75 1.49 1.76 12.86 37.7 4% 11% 46.92 49.73 30.71 33.77 26.21 29.45 6.14 5.75 8.69 6.42 21.4

4 Uflex Ltd. Plastic packaging goods 1239.03 1363.76 0.76 0.71 1.01 0.91 182.99 216.55 15% 16% 59.18 67.44 62.9 71.9 14.75 21.08 9.1 13.77 2.54 2.86 21.7

5 Supreme Petrochem Ltd. Polystyrene 1429.16 1504.21 0.89 0.92 4.73 5.39 67.3 88.56 5% 6% 21.81 24.64 40.78 31.97 18.36 11.08 1.16 0.96 12.97 12.69 22.2

6 South Asian Petrochem Ltd. Polyethylene terephthalate (PET) 1026.04 1042.5 0.83 0.74 2.42 2.15 107.01 128.34 10% 12% 56.87 42.32 94.05 75.37 22.33 33.66 0.55 0.6 19.43 17.43 25.0

7 Positive Packaging Inds. Ltd. Plastic laminated sheets 334.88 338.17 0.75 0.81 2.27 2.69 41.45 41.95 12% 12% 63.83 67.74 34.55 47.32 54.65 56.03 7.54 8.51 3.91 6.15 25.9

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

large manufacturing companies

Page 74: Reinventing the Supply Chain

8 Paper Products Ltd. Plastic packaging goods 470.85 537.42 0.75 0.80 1.80 2.00 79.33 65.48 17% 12% 56.85 58.5 58.92 65.85 35.9 32.49 8.48 8.91 7.8 8.75 26.0

9 Nilkamal Ltd. Plastic Products 467.86 806.79 0.85 0.78 3.62 2.76 34.04 131.31 7% 16% 41.91 40.44 25.76 27.96 30.44 35.51 6.13 8.51 23.08 30.14 26.2

10 Ineos A B S (India) Ltd. Acrylonitrile butadiene styrene 493.72 560.65 0.80 0.80 2.53 2.72 55.15 67.73 11% 12% 48.47 51.41 111.84 92.43 37.41 40.11 3.69 3.24 7.98 8.34 26.9

11 Essel Propack Ltd. Plastic packaging goods 304.18 350.65 0.52 0.51 0.96 1.07 103.17 114.87 34% 33% 44.99 57.88 61.36 50.79 67.25 66.08 22.84 25.98 3.93 2.4 27.0

12 Haldia Petrochemicals Ltd. Polyethylene 7246.83 7513.4 0.72 0.80 1.17 1.28 1466.71 972 20% 13% 10.05 10.46 38.59 37.7 39.58 41.32 1.51 0.82 10.15 9.12 27.1

13 Time Technoplast Ltd. Reservoirs, tanks, etc. 352.42 466.52 0.74 0.74 1.71 1.67 70.32 105.98 20% 23% 73.9 73.95 35.41 28.2 54.19 52.4 19.23 16.85 27.59 22.07 27.7

14 Jain Irrigation Systems Ltd. Tubes, pipes & hoses of poly vinyl 1227.57 1688.71 0.69 0.72 1.43 1.63 210.72 353.76 17% 21% 104.28 107.97 140.75 124.24 65.45 73.99 0.09 0.12 26.02 34.79 28.4

15 Chemplast Sanmar Ltd. Poly vinyl chloride 610.79 657.69 0.74 0.80 0.61 0.45 88.72 112.01 15% 17% 27.84 25.23 69.32 70.78 60.67 52.51 1.06 1.1 5.81 6.88 28.6

16 V I P Industries Ltd. Moulded luggage 429.78 554.09 0.65 0.59 3.26 3.62 44.44 54.59 10% 10% 54.34 62.9 58.81 53.19 34.8 37.84 8.78 9.86 30.66 34.74 29.0

17 Finolex Industries Ltd. Amino/phenolic resins & polyurethanes 1048.85 1421.12 0.76 0.80 1.21 1.48 167.21 178.7 16% 13% 10.02 12.84 40.11 30.43 76.35 52.18 4.29 3.62 15.76 13.1 29.6

18 D C W Ltd. Poly vinyl chloride 662.24 750.77 0.68 0.80 0.90 0.85 67.35 94.7 10% 13% 29.03 28.52 92.24 94.66 60.01 56.66 0.57 0.44 19.03 13.68 33.4

1 Krishna Lifestyle Technologies Ltd. Cloth processed 264.62 365.48 0.19 0.86 0.32 2.08 22.97 24.8 9% 7% 168.98 46.67 27.52 8.86 130.67 9.71 10.58 3.89 73.16 6 43.8

2 J B F Industries Ltd. Partially oriented yarn (POy) 1488.88 2160.02 0.89 0.83 1.99 2.32 185.63 256.01 12% 12% 23.86 26.55 15.89 34.38 8.98 9.07 1.6 1.7 5.93 5.84 45.8

3 Modern Syntex (India) Ltd. Polyester filament yarn (PFY) 519.19 512.97 0.86 0.87 1.95 2.21 26.93 78.38 5% 15% 25.58 23.89 27.75 29.85 9.95 10.96 3.13 3.47 6.27 5.45 46.0

4 Eskay K'N'It (India) Ltd. Cloth (Fabrics) 479.71 652 0.82 0.84 1.62 1.55 63.3 98.17 13% 15% 113.67 90.75 6.35 6.25 53.99 34.62 8.79 8.98 12.38 17.36 52.0

5 Filatex India Ltd. Polyester filament yarn (PFY) 299.01 345.91 0.87 0.88 2.86 3.51 15.1 27.38 5% 8% 12.78 13.83 19 21.18 12.8 13.41 1.96 1.56 12.39 8.59 52.9

6 Jaybharat Textiles & Real Estate Ltd. Sarees 249.74 424.29 0.70 0.77 0.92 1.19 51.2 65.21 21% 15% 36.34 25.26 57.02 26.29 23.74 15.52 13.88 5.98 11.53 8.86 53.2

7 Mafatlal Industries Ltd. Cloth (Fabrics) 157.09 396.1 0.79 0.45 2.64 4.69 -18.49 66.89 -12% 17% 223.1 80.53 610.26 320.95 15.76 8.3 45.78 22.31 9.94 6.38 53.9

8 Garden Silk Mills Ltd. Polyester filament yarn (PFY) 963.88 1405.1 0.77 0.84 0.99 1.63 130.69 163.54 14% 12% 13.19 13.64 19.07 11.71 25.36 19.98 1.04 0.83 11.24 13.45 56.5

9 K S L & Industries Ltd. Cloth (Fabrics) 517.1 648.25 0.73 0.78 0.65 0.58 97.78 122.36 19% 19% 70.15 67.93 10.78 7.79 45.35 36.7 9.66 11.27 13.85 14.21 58.3

10 R S W M Ltd. Blended yarn 1030.02 1281.51 0.70 0.78 0.86 1.10 138.22 151.24 13% 12% 37.3 35.19 20.78 17.14 57.89 47.62 12.82 12.64 11.22 12.88 69.2

11 Nagreeka Exports Ltd. Cotton yarn 264.94 334.11 0.83 0.89 2.30 3.20 21.34 24.69 8% 7% 47.99 36.39 12.89 15.44 52.51 60.31 7.32 5.78 6.47 13.18 69.6

12 Shri Lakshmi Cotsyn Ltd. Man-made fabrics 362.36 606.43 0.92 0.91 1.45 1.36 28.97 86.94 8% 14% 61.76 61.99 15.45 23.98 28.5 22.72 14.15 16.21 21.86 20.62 71.3

13 Century Enka Ltd. Polyester filament yarn (PFY) 983.38 1190.76 0.87 0.81 1.13 1.35 104.89 116.8 11% 10% 25.42 29.06 16.36 15.28 19.73 28.16 15.04 13.77 21.57 18.5 73.0

14 Bombay Dyeing & Mfg. Co. Ltd. Cloth (Fabrics) 508.88 983.31 0.61 0.72 0.36 0.57 47.71 115.72 9% 12% 167.35 107.32 175.6 96.37 73.64 39 40.86 14.92 14.52 12.13 73.4

15 S R F Ltd. Nylon tyre cord fabric 1807.32 1627.13 0.60 0.68 0.93 0.90 546.42 328.47 30% 20% 30.82 44.95 57.97 74.08 34.58 43.77 15.72 18.34 9.25 9.41 73.9

16 Krishna Knitwear Technology Ltd. Knitted fabrics 1363.47 1494.58 0.89 0.86 1.48 1.59 129.37 144.56 9% 10% 83.11 80.68 4.06 4.88 62.2 56.1 12.44 13.23 18.12 21.28 74.6

17 S E L Manufacturing Co. Ltd. Cloth (Fabrics) 201.64 392.32 0.84 0.77 1.43 1.32 40.25 77.56 20% 20% 102.53 106.68 47.03 82.14 57.35 51.2 10.85 7.72 45.81 32.11 75.6

18 Nova Petrochemicals Ltd. Partially oriented yarn (POy) 268.05 326.73 0.84 0.93 1.38 2.09 10.55 3.53 4% 1% 44.86 42.29 92.5 84.94 26.56 16.49 16.08 15.72 3.72 3.5 76.0

19 K P R Mill Ltd. Cotton yarn 498.19 611.99 0.71 0.71 0.53 0.52 134.02 153.78 27% 25% NA 47.24 133.66 44.93 NA 156.54 NA 6.31 NA 9.85 78.2

20 Vardhman Polytex Ltd. Cotton yarn 391.26 381.39 0.73 0.83 1.31 1.15 59.56 47.88 15% 13% 32.73 36.97 20.24 24.85 133.51 142.94 4.94 4.52 7.71 12.15 78.3

21 Chiripal Industries Ltd. Cloth (Fabrics) 379.88 459.68 0.81 0.84 1.39 1.71 55.71 52.89 15% 12% 50.67 49.59 71.08 61.87 22.61 31.46 19.77 21.33 9.09 15.52 78.8

22 Sudhan Spinning Mills Pvt. Ltd. Cotton yarn 242.17 302.66 0.85 0.89 6.70 12.14 30.78 21.68 13% 7% 4.07 2.03 17.49 15.22 188.59 176.03 0.81 0.91 4.52 8.37 80.2

23 T T Ltd. Cotton & blended yarn 598.03 650.28 0.85 0.88 4.01 4.01 27.69 26.14 5% 4% 15.66 12.68 5.42 7.99 62.06 109.66 3.16 6.22 7.26 5.26 80.2

24 Spentex Industries Ltd. Cotton yarn 779.96 796.08 0.82 0.85 1.52 1.63 94.99 63.66 12% 8% 21.92 36.35 28.7 65.42 72.21 60.35 3.31 5.14 6.33 15.44 83.0

25 Siyaram Silk Mills Ltd. Cloth (Fabrics) 525 488.41 0.50 0.70 1.49 1.65 45.92 41.78 9% 9% 80.3 99.1 43.85 45.84 64.07 55.12 22.43 18.13 17.58 32.24 84.9

26 Kurlon Ltd. Rubberised coir products & bonded 268.64 321.69 0.67 0.63 4.94 3.73 20.08 19.37 7% 6% 41.08 47.19 63.88 70.63 33.38 36.96 7.33 9.32 51.76 41.6 85.5

27 Sangam (India) Ltd. Cotton & blended yarn 552.5 699.86 0.77 0.82 0.72 0.89 95.63 93.8 17% 13% 65.4 70.33 26.42 33.63 49.99 55.29 22.21 21.33 16.67 23.05 88.5

28 Indo Rama Synthetics (India) Ltd. Synthetic filament yarn other than 2036.5 2630.31 1.01 0.89 1.18 1.32 180.51 250.98 9% 10% 13.98 13.66 95.5 86.67 13.47 12.67 3.34 3.55 20.64 30.65 89.7

29 Welspun India Ltd. Terry towelling & similar woven terry 1046.83 1328.81 0.55 0.59 0.45 0.52 260.35 275.48 25% 21% 23.09 23.14 29.6 42.45 66.06 50.91 49.77 47.34 9.1 13.32 89.9

30 Loyal Textile Mills Ltd. Cloth (Fabrics) 374.33 412.91 0.65 0.67 0.84 0.84 63.71 68.27 17% 17% 51.33 58.56 34.9 46.14 68.83 58.5 25.52 28.38 23.71 25.09 92.1

31 S Kumars Nationwide Ltd. Cloth (Fabrics) 1234.85 1612.32 0.81 0.63 1.73 1.21 249.72 346.9 20% 22% 163.91 139.02 49.02 35.65 52.4 60.76 45.22 39.19 68.66 54.68 93.6

32 Rupa & Co. Ltd. Apparels - knitted / crocheted 300.79 351.6 0.41 0.50 2.59 3.48 24.61 29.16 8% 8% 55.61 54.02 59.89 79.18 76.12 71.28 11.23 7.69 60.52 50.59 93.7

33 Precot Meridian Ltd. Cotton yarn 339.6 371.55 0.68 0.71 1.02 1.09 58.25 44.36 17% 12% 16.18 22.29 32.86 26.68 101.61 98.35 17.21 17.82 10.31 13.19 94.1

34 S T L Global Ltd. Cloth processed 310.92 342.69 0.86 0.89 2.90 2.98 40.03 30.53 13% 9% 77.11 96.62 44.24 40.63 43.46 49.26 37.9 41.93 24.92 30.84 94.4

textiles

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers72

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 75: Reinventing the Supply Chain

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 73

8 Paper Products Ltd. Plastic packaging goods 470.85 537.42 0.75 0.80 1.80 2.00 79.33 65.48 17% 12% 56.85 58.5 58.92 65.85 35.9 32.49 8.48 8.91 7.8 8.75 26.0

9 Nilkamal Ltd. Plastic Products 467.86 806.79 0.85 0.78 3.62 2.76 34.04 131.31 7% 16% 41.91 40.44 25.76 27.96 30.44 35.51 6.13 8.51 23.08 30.14 26.2

10 Ineos A B S (India) Ltd. Acrylonitrile butadiene styrene 493.72 560.65 0.80 0.80 2.53 2.72 55.15 67.73 11% 12% 48.47 51.41 111.84 92.43 37.41 40.11 3.69 3.24 7.98 8.34 26.9

11 Essel Propack Ltd. Plastic packaging goods 304.18 350.65 0.52 0.51 0.96 1.07 103.17 114.87 34% 33% 44.99 57.88 61.36 50.79 67.25 66.08 22.84 25.98 3.93 2.4 27.0

12 Haldia Petrochemicals Ltd. Polyethylene 7246.83 7513.4 0.72 0.80 1.17 1.28 1466.71 972 20% 13% 10.05 10.46 38.59 37.7 39.58 41.32 1.51 0.82 10.15 9.12 27.1

13 Time Technoplast Ltd. Reservoirs, tanks, etc. 352.42 466.52 0.74 0.74 1.71 1.67 70.32 105.98 20% 23% 73.9 73.95 35.41 28.2 54.19 52.4 19.23 16.85 27.59 22.07 27.7

14 Jain Irrigation Systems Ltd. Tubes, pipes & hoses of poly vinyl 1227.57 1688.71 0.69 0.72 1.43 1.63 210.72 353.76 17% 21% 104.28 107.97 140.75 124.24 65.45 73.99 0.09 0.12 26.02 34.79 28.4

15 Chemplast Sanmar Ltd. Poly vinyl chloride 610.79 657.69 0.74 0.80 0.61 0.45 88.72 112.01 15% 17% 27.84 25.23 69.32 70.78 60.67 52.51 1.06 1.1 5.81 6.88 28.6

16 V I P Industries Ltd. Moulded luggage 429.78 554.09 0.65 0.59 3.26 3.62 44.44 54.59 10% 10% 54.34 62.9 58.81 53.19 34.8 37.84 8.78 9.86 30.66 34.74 29.0

17 Finolex Industries Ltd. Amino/phenolic resins & polyurethanes 1048.85 1421.12 0.76 0.80 1.21 1.48 167.21 178.7 16% 13% 10.02 12.84 40.11 30.43 76.35 52.18 4.29 3.62 15.76 13.1 29.6

18 D C W Ltd. Poly vinyl chloride 662.24 750.77 0.68 0.80 0.90 0.85 67.35 94.7 10% 13% 29.03 28.52 92.24 94.66 60.01 56.66 0.57 0.44 19.03 13.68 33.4

1 Krishna Lifestyle Technologies Ltd. Cloth processed 264.62 365.48 0.19 0.86 0.32 2.08 22.97 24.8 9% 7% 168.98 46.67 27.52 8.86 130.67 9.71 10.58 3.89 73.16 6 43.8

2 J B F Industries Ltd. Partially oriented yarn (POy) 1488.88 2160.02 0.89 0.83 1.99 2.32 185.63 256.01 12% 12% 23.86 26.55 15.89 34.38 8.98 9.07 1.6 1.7 5.93 5.84 45.8

3 Modern Syntex (India) Ltd. Polyester filament yarn (PFY) 519.19 512.97 0.86 0.87 1.95 2.21 26.93 78.38 5% 15% 25.58 23.89 27.75 29.85 9.95 10.96 3.13 3.47 6.27 5.45 46.0

4 Eskay K'N'It (India) Ltd. Cloth (Fabrics) 479.71 652 0.82 0.84 1.62 1.55 63.3 98.17 13% 15% 113.67 90.75 6.35 6.25 53.99 34.62 8.79 8.98 12.38 17.36 52.0

5 Filatex India Ltd. Polyester filament yarn (PFY) 299.01 345.91 0.87 0.88 2.86 3.51 15.1 27.38 5% 8% 12.78 13.83 19 21.18 12.8 13.41 1.96 1.56 12.39 8.59 52.9

6 Jaybharat Textiles & Real Estate Ltd. Sarees 249.74 424.29 0.70 0.77 0.92 1.19 51.2 65.21 21% 15% 36.34 25.26 57.02 26.29 23.74 15.52 13.88 5.98 11.53 8.86 53.2

7 Mafatlal Industries Ltd. Cloth (Fabrics) 157.09 396.1 0.79 0.45 2.64 4.69 -18.49 66.89 -12% 17% 223.1 80.53 610.26 320.95 15.76 8.3 45.78 22.31 9.94 6.38 53.9

8 Garden Silk Mills Ltd. Polyester filament yarn (PFY) 963.88 1405.1 0.77 0.84 0.99 1.63 130.69 163.54 14% 12% 13.19 13.64 19.07 11.71 25.36 19.98 1.04 0.83 11.24 13.45 56.5

9 K S L & Industries Ltd. Cloth (Fabrics) 517.1 648.25 0.73 0.78 0.65 0.58 97.78 122.36 19% 19% 70.15 67.93 10.78 7.79 45.35 36.7 9.66 11.27 13.85 14.21 58.3

10 R S W M Ltd. Blended yarn 1030.02 1281.51 0.70 0.78 0.86 1.10 138.22 151.24 13% 12% 37.3 35.19 20.78 17.14 57.89 47.62 12.82 12.64 11.22 12.88 69.2

11 Nagreeka Exports Ltd. Cotton yarn 264.94 334.11 0.83 0.89 2.30 3.20 21.34 24.69 8% 7% 47.99 36.39 12.89 15.44 52.51 60.31 7.32 5.78 6.47 13.18 69.6

12 Shri Lakshmi Cotsyn Ltd. Man-made fabrics 362.36 606.43 0.92 0.91 1.45 1.36 28.97 86.94 8% 14% 61.76 61.99 15.45 23.98 28.5 22.72 14.15 16.21 21.86 20.62 71.3

13 Century Enka Ltd. Polyester filament yarn (PFY) 983.38 1190.76 0.87 0.81 1.13 1.35 104.89 116.8 11% 10% 25.42 29.06 16.36 15.28 19.73 28.16 15.04 13.77 21.57 18.5 73.0

14 Bombay Dyeing & Mfg. Co. Ltd. Cloth (Fabrics) 508.88 983.31 0.61 0.72 0.36 0.57 47.71 115.72 9% 12% 167.35 107.32 175.6 96.37 73.64 39 40.86 14.92 14.52 12.13 73.4

15 S R F Ltd. Nylon tyre cord fabric 1807.32 1627.13 0.60 0.68 0.93 0.90 546.42 328.47 30% 20% 30.82 44.95 57.97 74.08 34.58 43.77 15.72 18.34 9.25 9.41 73.9

16 Krishna Knitwear Technology Ltd. Knitted fabrics 1363.47 1494.58 0.89 0.86 1.48 1.59 129.37 144.56 9% 10% 83.11 80.68 4.06 4.88 62.2 56.1 12.44 13.23 18.12 21.28 74.6

17 S E L Manufacturing Co. Ltd. Cloth (Fabrics) 201.64 392.32 0.84 0.77 1.43 1.32 40.25 77.56 20% 20% 102.53 106.68 47.03 82.14 57.35 51.2 10.85 7.72 45.81 32.11 75.6

18 Nova Petrochemicals Ltd. Partially oriented yarn (POy) 268.05 326.73 0.84 0.93 1.38 2.09 10.55 3.53 4% 1% 44.86 42.29 92.5 84.94 26.56 16.49 16.08 15.72 3.72 3.5 76.0

19 K P R Mill Ltd. Cotton yarn 498.19 611.99 0.71 0.71 0.53 0.52 134.02 153.78 27% 25% NA 47.24 133.66 44.93 NA 156.54 NA 6.31 NA 9.85 78.2

20 Vardhman Polytex Ltd. Cotton yarn 391.26 381.39 0.73 0.83 1.31 1.15 59.56 47.88 15% 13% 32.73 36.97 20.24 24.85 133.51 142.94 4.94 4.52 7.71 12.15 78.3

21 Chiripal Industries Ltd. Cloth (Fabrics) 379.88 459.68 0.81 0.84 1.39 1.71 55.71 52.89 15% 12% 50.67 49.59 71.08 61.87 22.61 31.46 19.77 21.33 9.09 15.52 78.8

22 Sudhan Spinning Mills Pvt. Ltd. Cotton yarn 242.17 302.66 0.85 0.89 6.70 12.14 30.78 21.68 13% 7% 4.07 2.03 17.49 15.22 188.59 176.03 0.81 0.91 4.52 8.37 80.2

23 T T Ltd. Cotton & blended yarn 598.03 650.28 0.85 0.88 4.01 4.01 27.69 26.14 5% 4% 15.66 12.68 5.42 7.99 62.06 109.66 3.16 6.22 7.26 5.26 80.2

24 Spentex Industries Ltd. Cotton yarn 779.96 796.08 0.82 0.85 1.52 1.63 94.99 63.66 12% 8% 21.92 36.35 28.7 65.42 72.21 60.35 3.31 5.14 6.33 15.44 83.0

25 Siyaram Silk Mills Ltd. Cloth (Fabrics) 525 488.41 0.50 0.70 1.49 1.65 45.92 41.78 9% 9% 80.3 99.1 43.85 45.84 64.07 55.12 22.43 18.13 17.58 32.24 84.9

26 Kurlon Ltd. Rubberised coir products & bonded 268.64 321.69 0.67 0.63 4.94 3.73 20.08 19.37 7% 6% 41.08 47.19 63.88 70.63 33.38 36.96 7.33 9.32 51.76 41.6 85.5

27 Sangam (India) Ltd. Cotton & blended yarn 552.5 699.86 0.77 0.82 0.72 0.89 95.63 93.8 17% 13% 65.4 70.33 26.42 33.63 49.99 55.29 22.21 21.33 16.67 23.05 88.5

28 Indo Rama Synthetics (India) Ltd. Synthetic filament yarn other than 2036.5 2630.31 1.01 0.89 1.18 1.32 180.51 250.98 9% 10% 13.98 13.66 95.5 86.67 13.47 12.67 3.34 3.55 20.64 30.65 89.7

29 Welspun India Ltd. Terry towelling & similar woven terry 1046.83 1328.81 0.55 0.59 0.45 0.52 260.35 275.48 25% 21% 23.09 23.14 29.6 42.45 66.06 50.91 49.77 47.34 9.1 13.32 89.9

30 Loyal Textile Mills Ltd. Cloth (Fabrics) 374.33 412.91 0.65 0.67 0.84 0.84 63.71 68.27 17% 17% 51.33 58.56 34.9 46.14 68.83 58.5 25.52 28.38 23.71 25.09 92.1

31 S Kumars Nationwide Ltd. Cloth (Fabrics) 1234.85 1612.32 0.81 0.63 1.73 1.21 249.72 346.9 20% 22% 163.91 139.02 49.02 35.65 52.4 60.76 45.22 39.19 68.66 54.68 93.6

32 Rupa & Co. Ltd. Apparels - knitted / crocheted 300.79 351.6 0.41 0.50 2.59 3.48 24.61 29.16 8% 8% 55.61 54.02 59.89 79.18 76.12 71.28 11.23 7.69 60.52 50.59 93.7

33 Precot Meridian Ltd. Cotton yarn 339.6 371.55 0.68 0.71 1.02 1.09 58.25 44.36 17% 12% 16.18 22.29 32.86 26.68 101.61 98.35 17.21 17.82 10.31 13.19 94.1

34 S T L Global Ltd. Cloth processed 310.92 342.69 0.86 0.89 2.90 2.98 40.03 30.53 13% 9% 77.11 96.62 44.24 40.63 43.46 49.26 37.9 41.93 24.92 30.84 94.4

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

large manufacturing companies

Page 76: Reinventing the Supply Chain

35 Provogue (India) Ltd. Apparels (Readymade garment) 235.82 338.22 0.76 0.77 4.56 5.34 32.61 53.86 14% 16% 63.06 67.21 61.55 71.57 63.91 78.59 13.14 9 85.77 89.25 95.9

36 Nahar Spinning Mills Ltd. Cotton & blended yarn 914.88 920.61 0.66 0.73 0.94 0.94 183.89 125.54 20% 14% 55.14 82.77 28.16 32.03 136.03 203.24 16.53 12.83 24.02 30.14 96.2

37 Malwa Cotton Spg. Mills Ltd. Cotton yarn 421.01 449.2 0.77 0.83 3.95 4.84 41.67 31.46 10% 7% 102.98 98.3 72.02 78.28 34.88 35.58 19.96 20.98 55.48 60.05 96.4

38 Indian Acrylics Ltd. Acrylic fibre 420.04 436.89 0.90 0.82 2.04 2.07 26.38 29.07 6% 7% 37.31 38.71 86.31 135.88 46.36 77.33 3.64 4.62 28.83 20.13 96.5

39 Garware-Wall Ropes Ltd. Twine, cordage, rope & cables 336.75 398.7 0.51 0.59 1.63 1.83 43.64 54.14 13% 14% 79.92 91.81 86.8 118.64 61.92 52.43 26.16 27.75 44.34 40.23 96.7

40 Raymond Ltd. Woven fabrics of wool 1401.75 1464.27 0.52 0.55 0.95 1.09 363.65 251.46 26% 17% 71.71 75.53 83.03 72.06 67.59 45.59 46.39 51.21 37.7 39.38 97.8

41 Bombay Rayon Fashions Ltd. Cloth (Fabrics) 494.72 943.37 0.79 0.82 1.11 1.14 99 229.27 20% 24% 50.9 59.81 54.05 31.76 62.46 58.77 30.85 33.34 33.24 35.56 98.0

42 Pearl Global Ltd. Apparels (Readymade garment) 205.93 323.97 0.69 0.70 1.51 2.24 18.04 -0.17 9% 0% 32.62 34.5 48.08 52.46 125.58 104.24 5.15 5.36 44.11 33.08 98.0

43 Pasupati Acrylon Ltd. Acrylic fibre 319.13 338.26 0.93 0.85 2.18 2.23 12.26 12.98 4% 4% 16.25 15.82 103.6 99.46 71.12 75.81 4.07 3.54 18.4 19.66 100.3

44 Banswara Syntex Ltd. Synthetic filament yarn other than 393.78 438.2 0.68 0.73 1.09 1.01 56.36 54.5 14% 12% 26.49 27.47 47.73 53.71 58.97 55.24 10.47 10.6 35.64 41.26 100.3

45 Alps Industries Ltd. Other textile articles 431.77 633.87 0.81 0.88 0.98 1.02 70.87 67.78 16% 11% 55.92 64.2 37.38 22.16 101.3 92.81 49.52 47.28 11.29 13.84 100.9

46 Gokaldas Exports Ltd. Apparels (Readymade garment) 1036.9 1077.4 0.61 0.60 2.59 2.45 124.08 113.96 12% 11% 23.84 27.52 25.47 31.23 142.62 173.01 29.02 31.9 12.34 15.52 101.3

47 Abhishek Industries Ltd. Terry towelling & similar woven terry 835.14 1085.38 0.64 0.68 0.50 0.52 188.42 209.43 23% 19% 14.45 11.78 44.89 67.09 124.59 91.78 21.76 15.78 19.82 17.64 103.5

48 Vardhman Textiles Ltd. Cotton yarn 2112.83 2328.5 0.65 0.70 0.80 0.70 381.21 450.62 18% 19% 40.4 41 55.07 43.21 139.33 147.8 12.92 14.29 29.38 32.51 103.6

49 Sutlej Textiles & Inds. Ltd. Synthetic filament yarn other than 723.85 826.38 0.73 0.81 1.10 1.12 109.35 117.9 15% 14% 30.92 33.63 28.26 34.6 57.8 66.9 15.17 16.38 30.38 35.08 103.9

50 N R C Ltd. Man-made filaments 430.83 324.97 0.84 0.96 0.97 0.87 6.12 -115.53 1% -36% 27.26 32.43 106.46 145.1 45.02 45.72 12.43 9 29.56 19.35 104.6

51 S P L Industries (Shivalik Prints) Ltd. Apparels (Readymade garment) 249.44 331.82 0.76 0.69 2.33 2.94 27.75 20.63 11% 6% 60.22 50.08 66.87 64.9 57.3 35.81 134.41 111.9 47.3 54.14 105.6

52 Maral Overseas Ltd. Cotton yarn 289.71 319.4 0.58 0.65 0.67 0.78 4.95 6.86 2% 2% 25.73 28.82 44.59 61.82 144.77 69.73 17.82 16.47 33.63 22.45 106.3

53 Orient Craft Ltd. Apparels (Readymade garment) 784.83 747.06 0.54 0.57 2.09 1.93 101.89 76.47 13% 10% 58.49 60.41 54.02 67.1 108.7 148.87 62.11 88.23 16.45 19.26 106.5

54 Suryalakshmi Cotton Mills Ltd. Cotton & blended yarn 235.94 352.5 0.82 0.79 0.73 1.06 31.51 39.26 13% 11% 48.24 41.31 70.38 64.94 70.04 62.71 15.76 22.19 34.09 29.25 106.7

55 Alok Industries Ltd. Cloth (Fabrics) 1944.08 2443.4 0.65 0.60 0.49 0.38 534.86 825.71 28% 34% 86.32 89.96 55.63 84.5 47.65 80.94 47.47 66.19 26.64 25.8 107.4

56 Ginni Filaments Ltd. Cotton yarn 225.73 307.4 0.79 0.82 0.51 0.67 32.79 10.11 15% 3% 36.76 33.44 58.84 70.9 151.94 65.5 12.91 11.19 19.3 26.26 109.8

57 Super Spinning Mills Ltd. Cotton & blended yarn 405.3 398.9 0.62 0.68 1.12 1.28 63.27 50.29 16% 13% 19.26 24.81 59.05 68.37 120.25 100.18 28.83 24.45 19.05 23.32 111.7

58 Celebrity Fashions Ltd. Apparels - knitted / crocheted 333.49 335.65 0.82 0.75 1.78 1.68 15.96 8.13 5% 2% 41.58 62.67 59.5 91.72 115.12 162.09 5.78 6.78 27.63 37.94 111.9

59 Futura Polyesters Ltd. Polyester staple fibre (PSF) 520.75 420.78 0.71 0.77 1.79 0.89 51.77 57.41 10% 14% 23.01 33.66 76.6 122.52 47.73 71.15 16.39 18.17 18.21 24.16 112.3

60 Oswal Woollen Mills Ltd. Wool & woollen textiles 322.13 445.03 0.70 0.66 1.24 1.45 47.42 74.16 15% 17% 50.9 45.37 138.92 83.99 150.22 130.78 37.4 29.85 38.33 33.45 115.0

61 Raymond Apparel Ltd. Apparels (Readymade garment) 256.47 351.23 0.49 0.63 3.33 4.42 24.04 30.57 9% 9% 38.1 40.12 50.28 64.72 110.29 107.53 22.96 26.17 55 58.71 115.2

62 Eastern Silk Inds. Ltd. Silk & silk textiles 465.67 491.88 0.61 0.65 1.43 1.72 100.23 101.13 22% 21% 101.57 103.57 69.61 88.23 231.38 233.27 37.57 42.79 57.85 55.96 118.1

63 Arvind Ltd. Cloth (Fabrics) 1870.16 2327.56 0.52 0.58 0.46 0.62 428.88 321.22 23% 14% 57.56 39.85 91.86 58.28 139.22 108.22 43 43.67 28.76 37.13 120.1

64 Koutons Retail India Ltd. Apparels (Readymade garment) 401.17 789.75 1.05 0.74 8.40 8.06 67.63 147.77 17% 19% 13.03 12.67 85.64 69.24 63.61 59.99 145.45 126.19 96.64 124.14 122.1

65 J C T Ltd. Cloth (Fabrics) 524.32 516.15 0.77 0.68 0.87 0.67 51.86 57.73 10% 11% 27.09 27.64 100.88 99.11 61.51 66.52 28.08 32.13 29.75 33.33 124.8

1 Goodyear India Ltd. Tyres 832.89 894.97 0.83 0.82 6.20 6.33 81.67 80.7 10% 9% 40.25 43.58 68.03 74.6 31.49 30.73 0.97 0.84 9.52 10.57 9.6

2 Ralson (India) Ltd. Cycle tyres 354.21 412.78 0.86 0.83 7.20 7.47 13.3 23.84 4% 6% 60.99 58.74 59.66 63.15 38.38 33.77 3.01 2.79 15.58 16.4 13.0

3 T V S Srichakra Ltd. Tyres 416.34 459.56 0.81 0.76 5.48 5.47 26.26 33.85 6% 7% 51.32 54.86 37.64 40.2 37.97 66.19 3.87 5.4 11.83 12.1 13.6

4 Apollo Tyres Ltd. Tyres 3305.64 3709.24 0.81 0.78 2.61 2.70 329.96 476.68 10% 13% 18.68 15.78 54.23 53.32 34.33 32.72 4.01 3.43 19.34 22.05 13.8

5 Balkrishna Industries Ltd. Tyres 877.62 1001.81 0.62 0.66 1.15 1.19 187.09 234.11 21% 23% 50.55 66.27 38.29 46.08 54.86 69.65 8.35 8.97 12.47 11.39 14.1

6 M R F Ltd. Tyres 3734.52 4410.75 0.79 0.80 4.13 3.91 295.84 466.64 8% 11% 42.96 39.4 56.97 55.42 27.98 28.39 9.9 9.36 24.41 23.02 16.4

7 J K Tyre & Inds. Ltd. Tyres 2632.63 2829.57 0.88 0.85 1.86 1.97 177.94 274.83 7% 10% 54.74 51.95 93.91 93.34 28.56 29.45 3.28 4.13 16.7 28.97 16.5

8 Ceat Ltd. Tyres 2138.48 2335.32 0.78 0.76 2.34 2.25 152.73 287.84 7% 12% 39.92 40.06 97.12 100.39 25.32 39.41 4.78 4.88 12.55 14.16 16.7

9 Metro Tyres Ltd. Tyres & tubes 376.92 401.73 0.79 0.77 8.18 8.63 24.88 27.61 7% 7% 66.72 71.41 78.96 78.47 47.52 42.37 4.66 4.83 39.97 48.65 16.8

10 Falcon Tyres Ltd. Tyres 280.45 449.04 0.84 0.83 1.44 1.98 12.54 21.19 4% 5% 34.55 23.34 55.44 51.96 38.54 34.8 4.34 7.12 17.68 13.67 18.0

1 Deepak Cables (India) Ltd. Cables & other conductors 699.7 721.79 0.77 0.70 23.61 14.65 108.02 139.79 15% 19% 129.73 223.38 99.85 126.7 12.3 13.07 0.71 3.72 3.13 3.2 8.7

2 R P G Cables Ltd. Cables & other conductors 182.69 303.02 0.87 0.91 3.64 6.61 21.99 24.1 12% 8% 63.57 59.54 150.98 74.62 7.47 7.6 5.12 5.23 2.37 3.01 12.3

3 R R Kabel Ltd. Cables & other conductors 320.8 402.32 0.96 0.91 7.49 7.64 20.93 40.97 7% 10% 31.22 37.8 8.63 8.87 4.39 4.27 4.26 9.7 10.23 14.52 14.0

tyres, tubes And rubber products

wires And cAbles

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers74

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 77: Reinventing the Supply Chain

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 75

35 Provogue (India) Ltd. Apparels (Readymade garment) 235.82 338.22 0.76 0.77 4.56 5.34 32.61 53.86 14% 16% 63.06 67.21 61.55 71.57 63.91 78.59 13.14 9 85.77 89.25 95.9

36 Nahar Spinning Mills Ltd. Cotton & blended yarn 914.88 920.61 0.66 0.73 0.94 0.94 183.89 125.54 20% 14% 55.14 82.77 28.16 32.03 136.03 203.24 16.53 12.83 24.02 30.14 96.2

37 Malwa Cotton Spg. Mills Ltd. Cotton yarn 421.01 449.2 0.77 0.83 3.95 4.84 41.67 31.46 10% 7% 102.98 98.3 72.02 78.28 34.88 35.58 19.96 20.98 55.48 60.05 96.4

38 Indian Acrylics Ltd. Acrylic fibre 420.04 436.89 0.90 0.82 2.04 2.07 26.38 29.07 6% 7% 37.31 38.71 86.31 135.88 46.36 77.33 3.64 4.62 28.83 20.13 96.5

39 Garware-Wall Ropes Ltd. Twine, cordage, rope & cables 336.75 398.7 0.51 0.59 1.63 1.83 43.64 54.14 13% 14% 79.92 91.81 86.8 118.64 61.92 52.43 26.16 27.75 44.34 40.23 96.7

40 Raymond Ltd. Woven fabrics of wool 1401.75 1464.27 0.52 0.55 0.95 1.09 363.65 251.46 26% 17% 71.71 75.53 83.03 72.06 67.59 45.59 46.39 51.21 37.7 39.38 97.8

41 Bombay Rayon Fashions Ltd. Cloth (Fabrics) 494.72 943.37 0.79 0.82 1.11 1.14 99 229.27 20% 24% 50.9 59.81 54.05 31.76 62.46 58.77 30.85 33.34 33.24 35.56 98.0

42 Pearl Global Ltd. Apparels (Readymade garment) 205.93 323.97 0.69 0.70 1.51 2.24 18.04 -0.17 9% 0% 32.62 34.5 48.08 52.46 125.58 104.24 5.15 5.36 44.11 33.08 98.0

43 Pasupati Acrylon Ltd. Acrylic fibre 319.13 338.26 0.93 0.85 2.18 2.23 12.26 12.98 4% 4% 16.25 15.82 103.6 99.46 71.12 75.81 4.07 3.54 18.4 19.66 100.3

44 Banswara Syntex Ltd. Synthetic filament yarn other than 393.78 438.2 0.68 0.73 1.09 1.01 56.36 54.5 14% 12% 26.49 27.47 47.73 53.71 58.97 55.24 10.47 10.6 35.64 41.26 100.3

45 Alps Industries Ltd. Other textile articles 431.77 633.87 0.81 0.88 0.98 1.02 70.87 67.78 16% 11% 55.92 64.2 37.38 22.16 101.3 92.81 49.52 47.28 11.29 13.84 100.9

46 Gokaldas Exports Ltd. Apparels (Readymade garment) 1036.9 1077.4 0.61 0.60 2.59 2.45 124.08 113.96 12% 11% 23.84 27.52 25.47 31.23 142.62 173.01 29.02 31.9 12.34 15.52 101.3

47 Abhishek Industries Ltd. Terry towelling & similar woven terry 835.14 1085.38 0.64 0.68 0.50 0.52 188.42 209.43 23% 19% 14.45 11.78 44.89 67.09 124.59 91.78 21.76 15.78 19.82 17.64 103.5

48 Vardhman Textiles Ltd. Cotton yarn 2112.83 2328.5 0.65 0.70 0.80 0.70 381.21 450.62 18% 19% 40.4 41 55.07 43.21 139.33 147.8 12.92 14.29 29.38 32.51 103.6

49 Sutlej Textiles & Inds. Ltd. Synthetic filament yarn other than 723.85 826.38 0.73 0.81 1.10 1.12 109.35 117.9 15% 14% 30.92 33.63 28.26 34.6 57.8 66.9 15.17 16.38 30.38 35.08 103.9

50 N R C Ltd. Man-made filaments 430.83 324.97 0.84 0.96 0.97 0.87 6.12 -115.53 1% -36% 27.26 32.43 106.46 145.1 45.02 45.72 12.43 9 29.56 19.35 104.6

51 S P L Industries (Shivalik Prints) Ltd. Apparels (Readymade garment) 249.44 331.82 0.76 0.69 2.33 2.94 27.75 20.63 11% 6% 60.22 50.08 66.87 64.9 57.3 35.81 134.41 111.9 47.3 54.14 105.6

52 Maral Overseas Ltd. Cotton yarn 289.71 319.4 0.58 0.65 0.67 0.78 4.95 6.86 2% 2% 25.73 28.82 44.59 61.82 144.77 69.73 17.82 16.47 33.63 22.45 106.3

53 Orient Craft Ltd. Apparels (Readymade garment) 784.83 747.06 0.54 0.57 2.09 1.93 101.89 76.47 13% 10% 58.49 60.41 54.02 67.1 108.7 148.87 62.11 88.23 16.45 19.26 106.5

54 Suryalakshmi Cotton Mills Ltd. Cotton & blended yarn 235.94 352.5 0.82 0.79 0.73 1.06 31.51 39.26 13% 11% 48.24 41.31 70.38 64.94 70.04 62.71 15.76 22.19 34.09 29.25 106.7

55 Alok Industries Ltd. Cloth (Fabrics) 1944.08 2443.4 0.65 0.60 0.49 0.38 534.86 825.71 28% 34% 86.32 89.96 55.63 84.5 47.65 80.94 47.47 66.19 26.64 25.8 107.4

56 Ginni Filaments Ltd. Cotton yarn 225.73 307.4 0.79 0.82 0.51 0.67 32.79 10.11 15% 3% 36.76 33.44 58.84 70.9 151.94 65.5 12.91 11.19 19.3 26.26 109.8

57 Super Spinning Mills Ltd. Cotton & blended yarn 405.3 398.9 0.62 0.68 1.12 1.28 63.27 50.29 16% 13% 19.26 24.81 59.05 68.37 120.25 100.18 28.83 24.45 19.05 23.32 111.7

58 Celebrity Fashions Ltd. Apparels - knitted / crocheted 333.49 335.65 0.82 0.75 1.78 1.68 15.96 8.13 5% 2% 41.58 62.67 59.5 91.72 115.12 162.09 5.78 6.78 27.63 37.94 111.9

59 Futura Polyesters Ltd. Polyester staple fibre (PSF) 520.75 420.78 0.71 0.77 1.79 0.89 51.77 57.41 10% 14% 23.01 33.66 76.6 122.52 47.73 71.15 16.39 18.17 18.21 24.16 112.3

60 Oswal Woollen Mills Ltd. Wool & woollen textiles 322.13 445.03 0.70 0.66 1.24 1.45 47.42 74.16 15% 17% 50.9 45.37 138.92 83.99 150.22 130.78 37.4 29.85 38.33 33.45 115.0

61 Raymond Apparel Ltd. Apparels (Readymade garment) 256.47 351.23 0.49 0.63 3.33 4.42 24.04 30.57 9% 9% 38.1 40.12 50.28 64.72 110.29 107.53 22.96 26.17 55 58.71 115.2

62 Eastern Silk Inds. Ltd. Silk & silk textiles 465.67 491.88 0.61 0.65 1.43 1.72 100.23 101.13 22% 21% 101.57 103.57 69.61 88.23 231.38 233.27 37.57 42.79 57.85 55.96 118.1

63 Arvind Ltd. Cloth (Fabrics) 1870.16 2327.56 0.52 0.58 0.46 0.62 428.88 321.22 23% 14% 57.56 39.85 91.86 58.28 139.22 108.22 43 43.67 28.76 37.13 120.1

64 Koutons Retail India Ltd. Apparels (Readymade garment) 401.17 789.75 1.05 0.74 8.40 8.06 67.63 147.77 17% 19% 13.03 12.67 85.64 69.24 63.61 59.99 145.45 126.19 96.64 124.14 122.1

65 J C T Ltd. Cloth (Fabrics) 524.32 516.15 0.77 0.68 0.87 0.67 51.86 57.73 10% 11% 27.09 27.64 100.88 99.11 61.51 66.52 28.08 32.13 29.75 33.33 124.8

1 Goodyear India Ltd. Tyres 832.89 894.97 0.83 0.82 6.20 6.33 81.67 80.7 10% 9% 40.25 43.58 68.03 74.6 31.49 30.73 0.97 0.84 9.52 10.57 9.6

2 Ralson (India) Ltd. Cycle tyres 354.21 412.78 0.86 0.83 7.20 7.47 13.3 23.84 4% 6% 60.99 58.74 59.66 63.15 38.38 33.77 3.01 2.79 15.58 16.4 13.0

3 T V S Srichakra Ltd. Tyres 416.34 459.56 0.81 0.76 5.48 5.47 26.26 33.85 6% 7% 51.32 54.86 37.64 40.2 37.97 66.19 3.87 5.4 11.83 12.1 13.6

4 Apollo Tyres Ltd. Tyres 3305.64 3709.24 0.81 0.78 2.61 2.70 329.96 476.68 10% 13% 18.68 15.78 54.23 53.32 34.33 32.72 4.01 3.43 19.34 22.05 13.8

5 Balkrishna Industries Ltd. Tyres 877.62 1001.81 0.62 0.66 1.15 1.19 187.09 234.11 21% 23% 50.55 66.27 38.29 46.08 54.86 69.65 8.35 8.97 12.47 11.39 14.1

6 M R F Ltd. Tyres 3734.52 4410.75 0.79 0.80 4.13 3.91 295.84 466.64 8% 11% 42.96 39.4 56.97 55.42 27.98 28.39 9.9 9.36 24.41 23.02 16.4

7 J K Tyre & Inds. Ltd. Tyres 2632.63 2829.57 0.88 0.85 1.86 1.97 177.94 274.83 7% 10% 54.74 51.95 93.91 93.34 28.56 29.45 3.28 4.13 16.7 28.97 16.5

8 Ceat Ltd. Tyres 2138.48 2335.32 0.78 0.76 2.34 2.25 152.73 287.84 7% 12% 39.92 40.06 97.12 100.39 25.32 39.41 4.78 4.88 12.55 14.16 16.7

9 Metro Tyres Ltd. Tyres & tubes 376.92 401.73 0.79 0.77 8.18 8.63 24.88 27.61 7% 7% 66.72 71.41 78.96 78.47 47.52 42.37 4.66 4.83 39.97 48.65 16.8

10 Falcon Tyres Ltd. Tyres 280.45 449.04 0.84 0.83 1.44 1.98 12.54 21.19 4% 5% 34.55 23.34 55.44 51.96 38.54 34.8 4.34 7.12 17.68 13.67 18.0

1 Deepak Cables (India) Ltd. Cables & other conductors 699.7 721.79 0.77 0.70 23.61 14.65 108.02 139.79 15% 19% 129.73 223.38 99.85 126.7 12.3 13.07 0.71 3.72 3.13 3.2 8.7

2 R P G Cables Ltd. Cables & other conductors 182.69 303.02 0.87 0.91 3.64 6.61 21.99 24.1 12% 8% 63.57 59.54 150.98 74.62 7.47 7.6 5.12 5.23 2.37 3.01 12.3

3 R R Kabel Ltd. Cables & other conductors 320.8 402.32 0.96 0.91 7.49 7.64 20.93 40.97 7% 10% 31.22 37.8 8.63 8.87 4.39 4.27 4.26 9.7 10.23 14.52 14.0

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

large manufacturing companies

Page 78: Reinventing the Supply Chain

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxesPrevious Year: 1st April 2006 to 31st March 2007. Source: CMIE Prowess databaseLatest year: 1st April 2007 to 31st March 2008.

4 Nicco Corpn. Ltd. Jelly filled cables 382.9 434.35 0.69 0.69 2.05 2.48 36.88 38.8 10% 9% 80.99 93.32 102.5 124.69 9.02 11.06 13.08 10.98 1.66 1.24 14.1

5 Precision Wires India Ltd. Copper winding wires 586.79 574.26 0.89 0.91 4.30 3.97 38.26 40 7% 7% 50.92 60.01 60.09 63.32 8.55 13.59 5.77 8.51 7.99 7.88 15.2

6 Sterlite Technologies Ltd. Jelly filled cables 1206.9 1698.15 0.73 0.78 1.82 2.37 129.09 232.04 11% 14% 87.14 102.19 62.87 68.28 19.04 24.36 6.59 9.14 11.13 10.45 15.7

7 Diamond Power Infrastructure Ltd. Cables & other conductors 122.04 442.44 1.01 0.90 5.40 6.47 21.18 66.11 17% 15% 108.49 49.02 16.75 11.68 32.85 16.51 88.46 21.96 47.66 24.59 18.0

8 Finolex Cables Ltd. Cables & other conductors 1052.09 1409.89 0.74 0.83 2.54 3.09 138.43 166.03 13% 12% 24.07 21.55 34.53 40.48 21.28 16.16 26.52 21.59 31.9 23.58 18.5

9 Havells India Ltd. Wires & cables, insulated 1546.8 2060.91 0.73 0.78 4.69 4.19 146.85 201.63 9% 10% 17.63 8.19 57.76 73.86 23.69 26.07 6.63 5.66 31.96 39.87 21.3

10 Kei Industries Ltd. Cables & other conductors 601.28 877.81 0.91 0.89 3.89 3.37 83.89 108.07 14% 12% 66.86 80.41 107.4 94.39 18.52 17.92 45.04 43.29 28.26 32.71 22.8

11 Universal Cables Ltd. Cables & other conductors 382.4 495.08 0.83 0.87 2.53 2.97 48.74 55.11 13% 11% 46.16 46.37 44.96 51.37 35.61 34.98 30.89 26.01 26.72 32 23.8

12 Paramount Communications Ltd. Jelly filled cables 311.17 446.28 0.96 1.03 3.69 2.91 71.28 76.79 23% 17% 71.39 83.47 64.55 76.88 38.03 29.84 44.75 61.23 38.15 56.54 26.2

12 Paramount Communications Ltd. Jelly filled cables 311.17 446.28 0.96 1.03 3.69 2.91 71.28 76.79 23% 17% 71.39 83.47 64.55 76.88 38.03 29.84 44.75 61.23 38.15 56.54 26.2

Overall the budget is well balanced and responsible. Various projects and schemes announced

by the government will see increased role of Information

Technology as an enabler towards more inclusive growth. The Union Finance Minister has also given us a clear direction on the roadmap for GST with a definite date for implementation. Deduction on

In-House R&D has been increased to 200 from 150 per cent, which will definitely help put back focus

on R&D.

AJAI CHOWDHRY CEO & CHAIRMAN HCL INFOSYSTEMS

WILL UNION BUDgET 2010-11 BOOST Up THE INDUSTRY?

Increased thrust in key areas like primary education, health,

infrastructure, rural development and financial inclusion would fuel broad-based growth and development. Enhanced focus on SEZs to drive growth and

employment and clarity on the tax regime is welcome. This would aid recovery for the IT industry. Social

transformation and technology enabled governance will gain

momentum and this is good news for the country.

S MAHALINgAM CFO, TCS

There is good focus on the Banking sector. The budget

is also a step in strengthening the Manufacturing sector. Both banking and auto stocks have

led the rally as the stock market gave a thumbs up to the Union Budget 2010-11. The allocation for the Power sector has also

increased by more than double. The National clear energy

fund for funding research and innovative projects in clean energy

technologies is a good initiative too. Overall, to me, the budget

looks good.

pADMAJA KRISHNAN DIRECTOR, SALES &

MARKETINg, CSC INDIA

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers76

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 79: Reinventing the Supply Chain

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 77

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Disclaimer: while every care has been taken to ensure accuracy in compiling this data, neither the publisher nor the editor will be responsible for any omissions or errors, or be held responsible for actions taken by any person (s) in reliance upon the data herein. Errors, omissions and mistakes may be brought to the attention of the editor for rectification in future issues of the magazine.

4 Nicco Corpn. Ltd. Jelly filled cables 382.9 434.35 0.69 0.69 2.05 2.48 36.88 38.8 10% 9% 80.99 93.32 102.5 124.69 9.02 11.06 13.08 10.98 1.66 1.24 14.1

5 Precision Wires India Ltd. Copper winding wires 586.79 574.26 0.89 0.91 4.30 3.97 38.26 40 7% 7% 50.92 60.01 60.09 63.32 8.55 13.59 5.77 8.51 7.99 7.88 15.2

6 Sterlite Technologies Ltd. Jelly filled cables 1206.9 1698.15 0.73 0.78 1.82 2.37 129.09 232.04 11% 14% 87.14 102.19 62.87 68.28 19.04 24.36 6.59 9.14 11.13 10.45 15.7

7 Diamond Power Infrastructure Ltd. Cables & other conductors 122.04 442.44 1.01 0.90 5.40 6.47 21.18 66.11 17% 15% 108.49 49.02 16.75 11.68 32.85 16.51 88.46 21.96 47.66 24.59 18.0

8 Finolex Cables Ltd. Cables & other conductors 1052.09 1409.89 0.74 0.83 2.54 3.09 138.43 166.03 13% 12% 24.07 21.55 34.53 40.48 21.28 16.16 26.52 21.59 31.9 23.58 18.5

9 Havells India Ltd. Wires & cables, insulated 1546.8 2060.91 0.73 0.78 4.69 4.19 146.85 201.63 9% 10% 17.63 8.19 57.76 73.86 23.69 26.07 6.63 5.66 31.96 39.87 21.3

10 Kei Industries Ltd. Cables & other conductors 601.28 877.81 0.91 0.89 3.89 3.37 83.89 108.07 14% 12% 66.86 80.41 107.4 94.39 18.52 17.92 45.04 43.29 28.26 32.71 22.8

11 Universal Cables Ltd. Cables & other conductors 382.4 495.08 0.83 0.87 2.53 2.97 48.74 55.11 13% 11% 46.16 46.37 44.96 51.37 35.61 34.98 30.89 26.01 26.72 32 23.8

12 Paramount Communications Ltd. Jelly filled cables 311.17 446.28 0.96 1.03 3.69 2.91 71.28 76.79 23% 17% 71.39 83.47 64.55 76.88 38.03 29.84 44.75 61.23 38.15 56.54 26.2

12 Paramount Communications Ltd. Jelly filled cables 311.17 446.28 0.96 1.03 3.69 2.91 71.28 76.79 23% 17% 71.39 83.47 64.55 76.88 38.03 29.84 44.75 61.23 38.15 56.54 26.2

WILL UNION BUDgET 2010-11 BOOST Up THE INDUSTRY?

I would term Union Budget 2010-11 as a perfect balancing act that seeks to achieve fiscal consolidation, while not losing sight of the growth momentum and the growth engines. It’s a fit

case of prudent economics by the Finance Minister. He has stuck to the UPA government’s ‘Inclusive

Growth’ theme by continuing its focus on the Aam Aadmi and doling out more money for rural

India, thereby giving the economy that much-needed tailwind to

surge ahead.

SUNIL DUggAL CEO, DABUR INDIA

The Union Budget 2010-11 has been framed with Focus on ‘Aam

Aadami’ (Comman nan). The major issue before the Finance Minister

was the rising food prices and continuance of economic stimulus

packages. I believe that this will strive to achieve a balance between

substance growth-paring deficit and controlling inflations at least for the inflationary expectations. Our FM has focused on investments

required for boosting agricultural as well as important Agri-Supply

Chain productivity.

DR. RAM BAJAJ CONOMIST, FINANCE MANAgEMENT gURU

The Union Budget 2010-11 presented by Finance Minister has focused on growth and removing administrative weaknesses with a focus on Social & Economic development. The budget is

likely to be growth oriented but inflationary. Stock markets may react adversely. Re-adjustment of tax will provide relief to the individual tax payers. However,

the success of budget will depend upon effective implementation of

budget proposals.

pROF. J D AgARWAL CHAIRMAN & pROFESSOR

OF FINANCE, INDIAN INSTITUTE OF FINANCE

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDITA(Rs. Crore)

PBDITA/Net Sales

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

large manufacturing companies

Page 80: Reinventing the Supply Chain

1 Esvee Precision Components Ltd. Automobile ancillaries, nec 47.68 51.84 0.76 0.72 3.58 3.71 5.01 5.36 11% 10% 22.23 30.87 17.39 14.88 14.74 12.96 4.36 3.17 0.76 0.64 23.02

2 India Nippon Electricals Ltd. Flywheel magnetos 147.28 126.89 0.76 0.71 5.17 4.15 25.21 20.85 17% 16% 58.39 64.32 37.51 43.64 12.17 16.51 2.95 3.43 4.41 4.77 45.75

3 Bharat Seats Ltd. Auto seating systems 176.39 199.96 0.91 0.91 8.37 9.48 7.19 7.76 4% 4% 15.46 16.11 26.6 27.68 5.68 5.46 0.68 1.47 0.33 0.37 18.87

4 Munjal Auto Inds. Ltd. Automobile ancillaries, nec 245.05 218.16 0.74 0.76 4.13 3.77 32.8 20.83 13% 10% 31.96 36.33 35.05 43.58 19.84 20.71 1.3 1.76 0.39 0.3 36.28

5 High Technology Transmission Systems (India) Clutch assembly 147.19 136.85 0.72 0.76 2.88 2.82 18.66 16.02 13% 12% NA 53.42 24.19 35.76 NA 15.8 NA 6.36 NA 1.2 39.17

6 Sundaram Brake Linings Ltd. Brake linings 187.63 187.43 0.65 0.66 1.64 1.65 29.09 19.49 16% 10% 77.91 86.03 37.57 49.41 22.63 26.56 3.38 4.93 3.42 3.52 58.62

7 Lumax D K Auto Inds. Ltd. Auto head lights 56.07 114.22 0.84 0.81 1.41 2.80 6.87 17.52 12% 15% 62.07 54.78 117.63 79.18 14.57 15.28 0.7 0.9 2.1 1.21 49.64

8 Bhagwati Autocast Ltd. Automobile ancillaries 49.33 49.04 0.70 0.71 5.47 5.56 4 3.17 8% 6% 77.63 96.76 82.56 79.58 17.36 17.21 2.65 1.78 5.57 6.01 66.67

9 Harita Seating Systems Ltd. Auto seating systems 154.9 192.42 0.81 0.79 2.85 3.48 13.59 17.76 9% 9% 60.37 49.55 52.34 64.61 14.28 15.7 2 2.57 2.54 2.54 45.53

10 Precision Camshafts Ltd. Automobile ancillaries 41.01 103.12 0.57 0.60 0.92 2.43 8.07 17.97 20% 17% NA 49.53 83.88 87.8 NA 14.74 NA 11.93 NA 1.43 55.89

11 Suprajit Engineering Ltd. Automobile equipment 132.68 138.22 0.77 0.81 2.44 2.69 24.83 18.22 19% 13% 73.25 75.11 45.49 38.51 26.84 26.62 5.3 5.68 5.71 5 53.46

12 India Forge & Drop Stampings Ltd. Automobile ancillaries 98.99 104.52 0.72 0.75 6.99 7.67 3.55 3.19 4% 3% 28.67 31.34 43.87 62.98 8.65 9.2 10.34 12.27 0.36 0.27 40.86

13 Z F Steering Gear (India) Ltd. Steering gears 222.26 228.53 0.67 0.69 4.05 4.28 50.68 50.22 23% 22% 35.71 38.15 23.24 25.45 45.14 50.1 7.87 11.46 0.39 0.34 51.07

14 Atlas Automotive Components Ltd. Auto castings 42.77 54.49 0.69 0.71 1.90 2.47 3.37 5.31 8% 10% NA 90.54 109.87 63.55 NA 21.46 NA 11.99 NA 5.91 66.56

15 Vaid Elastomer Processors Ltd. Automobile ancillaries 39.99 37.13 0.64 0.64 0.98 0.91 5.2 4.54 13% 12% 44.56 57.26 57.46 51.62 32.61 27.03 6.66 8.31 5.64 4.76 53.05

16 Swaraj Automotives Ltd. Auto seating systems 56.29 67.22 0.77 0.77 5.57 6.64 7.54 9.24 13% 14% 77.95 72.88 103.84 92.57 23.43 26 6.57 7.3 3.53 4.26 69.92

17 Caparo Maruti Ltd. Auto sheet metals parts 156.74 157.44 0.80 0.81 1.93 1.98 20.63 21.74 13% 14% 17.63 22.31 35.33 53.81 17.52 24.51 2.85 3.92 2.02 3.01 39.14

18 Hindustan Hardy Spicer Ltd. Propeller shafts 30.69 33.15 0.75 0.74 5.31 5.66 2.28 2.49 7% 8% 87.01 91.3 59.25 49.47 30.94 32.89 15.7 15.72 2.26 3.75 69.71

19 Setco Automotive Ltd. Clutch plates/discs 124.83 141.34 0.69 0.68 5.10 5.72 23.06 24.75 18% 18% 48.65 53.47 42.16 35.88 27.17 39.05 17.57 19.38 3.36 3.7 59.18

20 Menon Pistons Ltd. Pistons 84.03 101.44 0.57 0.61 2.82 3.64 10.8 12.59 13% 12% 100.06 103.84 41.82 40.68 39.29 32.04 29.25 22.27 12.87 8.04 75.41

21 K R Rubberite Ltd. Automobile ancillaries 24.25 33.73 0.79 0.82 1.94 2.78 1.73 2.36 7% 7% NA 18.87 72.78 74.21 NA 22.22 NA 3.85 NA 0.96 42.17

22 Standard Radiators Pvt. Ltd. Radiators 38.16 42.17 0.75 0.78 5.56 6.33 4.37 3.8 11% 9% 75.68 81.58 45.69 35.19 39.21 46.5 6.25 9.31 5.52 5.36 67.06

23 Auto Ignition Ltd. Starter motors 145.42 135.64 0.74 0.70 4.12 3.64 12.2 16.48 8% 12% 59.52 68.07 47.59 52.54 34.68 43.16 5.81 5.31 9.5 7.79 65.21

24 Menon & Menon Ltd. Auto castings 67.81 92.04 0.69 0.65 1.67 2.13 10 12.42 15% 13% NA 44.05 64.61 53.06 NA 38.62 NA 20.07 NA 0.06 59.09

25 Mahindra Sona Ltd. Automobile ancillaries 156.07 144.22 0.64 0.72 6.11 6.39 27.32 19.59 18% 14% 81.4 88.25 51.79 67.04 22.33 22.88 28.11 35.9 2.9 4.45 79.65

26 Reil Electricals India Ltd. Starter motors 32.78 33.19 0.74 0.70 3.95 3.79 2.52 3.36 8% 10% 91.8 96.34 66.52 72.52 88.59 77.84 5.7 4.87 3.37 2.92 94.39

27 Minda Corporation Ltd. Automobile locks 223.22 183.95 0.75 0.72 2.60 2.06 18.96 21.97 8% 12% 34.1 45.84 68.16 78.13 27.19 32.05 2.91 2.42 3.73 2.79 56.40

28 Deepak Industries Ltd. Gears including crown wheels 181.12 155.91 0.68 0.69 7.97 7.04 12.53 12.84 7% 8% 32.66 42.31 49.41 71 16.49 18.46 10.88 8.76 7.68 8.2 53.27

29 Jay Ushin Ltd. Automobile locks 155.45 240.22 0.80 0.82 2.84 4.48 7.54 13.17 5% 5% 24.83 18.73 90.48 60.84 37.22 37.63 0.15 0.18 2.12 2.12 44.91

30 Sumi Motherson Innovative Engg. Ltd. Auto plastic moulded components 115.93 137.26 0.63 0.59 1.21 1.34 22.56 34.95 19% 25% 47.48 50.51 70.1 69.12 23.8 22.75 11.79 11.36 10.57 10.51 58.64

31 Amalgamations Repco Ltd. Drive transmission & steering parts 63.02 67.94 0.77 0.75 5.42 5.70 3.49 3.35 6% 5% 78.86 86.33 66.01 67.02 48.02 44 8.64 7.64 7.3 5.31 75.78

32 G S Auto International Ltd. Other Automobile ancillaries, nec 72.43 81.48 0.70 0.67 6.22 6.78 3.46 5.09 5% 6% 53.45 51.41 56.12 58.32 24.75 31.86 9.59 11 5.53 6.07 58.89

33 Amtek Siccardi (India) Ltd. Automobile ancillaries 183.13 267.33 0.76 0.74 1.57 2.22 31.97 57.3 17% 21% 81.49 68.77 73.74 72.12 17.99 7.25 122.21 101.39 12.21 1.61 98.03

34 Canara Workshops Ltd. Leaf springs (Automotive) 18.97 23.25 0.74 0.70 18.01 20.76 1.82 1.34 10% 6% 107.67 96.76 89.16 77.65 18.05 17.97 10.19 9.85 53.08 36.56 88.82

35 Rasandik Auto Components Pvt. Ltd. Automobile ancillaries 24.07 11.32 0.76 0.75 1.86 0.86 0.57 0.91 2% 8% 24.95 64.26 47.91 65.75 21.04 39.57 3.22 4.45 0 1.6 62.15

36 Autoline Industries Ltd. Automobile ancillaries, nec 163.23 239.69 0.79 0.78 1.47 2.14 25.24 38.77 15% 16% 14.48 18.43 44.96 37.53 58.36 48.05 8.2 5.45 4.18 2.28 45.30

37 Shivam Autotech Ltd. Automobile ancillaries 129.89 124.29 0.43 0.41 0.49 0.45 37.71 32.7 29% 26% 50.83 54.1 103.38 62.49 35.01 50.66 12.73 15.55 1.83 1.5 69.06

38 Hero Motors Ltd. Automobile ancillaries 137.67 241.35 0.81 0.89 0.51 0.99 13.22 35.44 10% 15% 40.88 22.97 110.69 57.63 35.05 18.87 3.88 2.58 6.3 6.92 38.77

39 Sona Okegawa Precision Forgings Ltd. Gears including crown wheels 113.33 138.13 0.47 0.50 1.17 1.53 23.74 12.54 21% 9% 56.67 78.5 68.29 85.33 31.5 32.99 15.55 14.72 4.26 3.26 75.06

40 T C Springs Ltd. Leaf springs (Automotive) 48.23 48.76 0.73 0.75 2.86 2.97 3.91 2.34 8% 5% NA 45.9 21.37 24.44 NA 53.01 NA 7.23 NA 2.32 53.14

41 X L O India Ltd. Steering gears 30.67 30.55 0.83 0.82 13.12 12.90 1.4 1.76 5% 6% 42.25 59.17 84.92 105.68 22.74 28.9 16.22 14.46 0 0.84 74.31

42 Sona Somic Lemforder Components Ltd. Drive transmission & steering parts 103.27 97.14 0.74 0.78 2.42 2.40 12.35 9.73 12% 10% 28.74 42.07 45.61 56.03 27.17 31.51 9.19 19.94 0.68 0.61 56.12

43 Deltronix India Ltd. Automobile ancillaries 23.96 28.43 0.64 0.65 0.95 1.13 4.55 5.79 19% 20% 45.71 46.95 34.06 30.11 76.32 75.1 5.83 8.68 3.34 4.6 67.71

44 Dynamatic Technologies Ltd. Hydraulic pumps 115.01 281.64 0.66 0.71 1.26 3.35 23.19 52.29 20% 19% 88.79 54.75 111.5 89.35 52.21 27.5 14.47 10.84 10.78 7.04 66.77

45 Allied Nippon Ltd. Brake linings 142.82 147.04 0.71 0.74 2.99 3.25 20.64 15.5 14% 11% 92.94 104.49 62.09 54.25 23.74 25.8 10.44 17.95 19.26 18.28 79.46

Auto AncillAries

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers78

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 81: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 79

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s1 Esvee Precision Components Ltd. Automobile ancillaries, nec 47.68 51.84 0.76 0.72 3.58 3.71 5.01 5.36 11% 10% 22.23 30.87 17.39 14.88 14.74 12.96 4.36 3.17 0.76 0.64 23.02

2 India Nippon Electricals Ltd. Flywheel magnetos 147.28 126.89 0.76 0.71 5.17 4.15 25.21 20.85 17% 16% 58.39 64.32 37.51 43.64 12.17 16.51 2.95 3.43 4.41 4.77 45.75

3 Bharat Seats Ltd. Auto seating systems 176.39 199.96 0.91 0.91 8.37 9.48 7.19 7.76 4% 4% 15.46 16.11 26.6 27.68 5.68 5.46 0.68 1.47 0.33 0.37 18.87

4 Munjal Auto Inds. Ltd. Automobile ancillaries, nec 245.05 218.16 0.74 0.76 4.13 3.77 32.8 20.83 13% 10% 31.96 36.33 35.05 43.58 19.84 20.71 1.3 1.76 0.39 0.3 36.28

5 High Technology Transmission Systems (India) Clutch assembly 147.19 136.85 0.72 0.76 2.88 2.82 18.66 16.02 13% 12% NA 53.42 24.19 35.76 NA 15.8 NA 6.36 NA 1.2 39.17

6 Sundaram Brake Linings Ltd. Brake linings 187.63 187.43 0.65 0.66 1.64 1.65 29.09 19.49 16% 10% 77.91 86.03 37.57 49.41 22.63 26.56 3.38 4.93 3.42 3.52 58.62

7 Lumax D K Auto Inds. Ltd. Auto head lights 56.07 114.22 0.84 0.81 1.41 2.80 6.87 17.52 12% 15% 62.07 54.78 117.63 79.18 14.57 15.28 0.7 0.9 2.1 1.21 49.64

8 Bhagwati Autocast Ltd. Automobile ancillaries 49.33 49.04 0.70 0.71 5.47 5.56 4 3.17 8% 6% 77.63 96.76 82.56 79.58 17.36 17.21 2.65 1.78 5.57 6.01 66.67

9 Harita Seating Systems Ltd. Auto seating systems 154.9 192.42 0.81 0.79 2.85 3.48 13.59 17.76 9% 9% 60.37 49.55 52.34 64.61 14.28 15.7 2 2.57 2.54 2.54 45.53

10 Precision Camshafts Ltd. Automobile ancillaries 41.01 103.12 0.57 0.60 0.92 2.43 8.07 17.97 20% 17% NA 49.53 83.88 87.8 NA 14.74 NA 11.93 NA 1.43 55.89

11 Suprajit Engineering Ltd. Automobile equipment 132.68 138.22 0.77 0.81 2.44 2.69 24.83 18.22 19% 13% 73.25 75.11 45.49 38.51 26.84 26.62 5.3 5.68 5.71 5 53.46

12 India Forge & Drop Stampings Ltd. Automobile ancillaries 98.99 104.52 0.72 0.75 6.99 7.67 3.55 3.19 4% 3% 28.67 31.34 43.87 62.98 8.65 9.2 10.34 12.27 0.36 0.27 40.86

13 Z F Steering Gear (India) Ltd. Steering gears 222.26 228.53 0.67 0.69 4.05 4.28 50.68 50.22 23% 22% 35.71 38.15 23.24 25.45 45.14 50.1 7.87 11.46 0.39 0.34 51.07

14 Atlas Automotive Components Ltd. Auto castings 42.77 54.49 0.69 0.71 1.90 2.47 3.37 5.31 8% 10% NA 90.54 109.87 63.55 NA 21.46 NA 11.99 NA 5.91 66.56

15 Vaid Elastomer Processors Ltd. Automobile ancillaries 39.99 37.13 0.64 0.64 0.98 0.91 5.2 4.54 13% 12% 44.56 57.26 57.46 51.62 32.61 27.03 6.66 8.31 5.64 4.76 53.05

16 Swaraj Automotives Ltd. Auto seating systems 56.29 67.22 0.77 0.77 5.57 6.64 7.54 9.24 13% 14% 77.95 72.88 103.84 92.57 23.43 26 6.57 7.3 3.53 4.26 69.92

17 Caparo Maruti Ltd. Auto sheet metals parts 156.74 157.44 0.80 0.81 1.93 1.98 20.63 21.74 13% 14% 17.63 22.31 35.33 53.81 17.52 24.51 2.85 3.92 2.02 3.01 39.14

18 Hindustan Hardy Spicer Ltd. Propeller shafts 30.69 33.15 0.75 0.74 5.31 5.66 2.28 2.49 7% 8% 87.01 91.3 59.25 49.47 30.94 32.89 15.7 15.72 2.26 3.75 69.71

19 Setco Automotive Ltd. Clutch plates/discs 124.83 141.34 0.69 0.68 5.10 5.72 23.06 24.75 18% 18% 48.65 53.47 42.16 35.88 27.17 39.05 17.57 19.38 3.36 3.7 59.18

20 Menon Pistons Ltd. Pistons 84.03 101.44 0.57 0.61 2.82 3.64 10.8 12.59 13% 12% 100.06 103.84 41.82 40.68 39.29 32.04 29.25 22.27 12.87 8.04 75.41

21 K R Rubberite Ltd. Automobile ancillaries 24.25 33.73 0.79 0.82 1.94 2.78 1.73 2.36 7% 7% NA 18.87 72.78 74.21 NA 22.22 NA 3.85 NA 0.96 42.17

22 Standard Radiators Pvt. Ltd. Radiators 38.16 42.17 0.75 0.78 5.56 6.33 4.37 3.8 11% 9% 75.68 81.58 45.69 35.19 39.21 46.5 6.25 9.31 5.52 5.36 67.06

23 Auto Ignition Ltd. Starter motors 145.42 135.64 0.74 0.70 4.12 3.64 12.2 16.48 8% 12% 59.52 68.07 47.59 52.54 34.68 43.16 5.81 5.31 9.5 7.79 65.21

24 Menon & Menon Ltd. Auto castings 67.81 92.04 0.69 0.65 1.67 2.13 10 12.42 15% 13% NA 44.05 64.61 53.06 NA 38.62 NA 20.07 NA 0.06 59.09

25 Mahindra Sona Ltd. Automobile ancillaries 156.07 144.22 0.64 0.72 6.11 6.39 27.32 19.59 18% 14% 81.4 88.25 51.79 67.04 22.33 22.88 28.11 35.9 2.9 4.45 79.65

26 Reil Electricals India Ltd. Starter motors 32.78 33.19 0.74 0.70 3.95 3.79 2.52 3.36 8% 10% 91.8 96.34 66.52 72.52 88.59 77.84 5.7 4.87 3.37 2.92 94.39

27 Minda Corporation Ltd. Automobile locks 223.22 183.95 0.75 0.72 2.60 2.06 18.96 21.97 8% 12% 34.1 45.84 68.16 78.13 27.19 32.05 2.91 2.42 3.73 2.79 56.40

28 Deepak Industries Ltd. Gears including crown wheels 181.12 155.91 0.68 0.69 7.97 7.04 12.53 12.84 7% 8% 32.66 42.31 49.41 71 16.49 18.46 10.88 8.76 7.68 8.2 53.27

29 Jay Ushin Ltd. Automobile locks 155.45 240.22 0.80 0.82 2.84 4.48 7.54 13.17 5% 5% 24.83 18.73 90.48 60.84 37.22 37.63 0.15 0.18 2.12 2.12 44.91

30 Sumi Motherson Innovative Engg. Ltd. Auto plastic moulded components 115.93 137.26 0.63 0.59 1.21 1.34 22.56 34.95 19% 25% 47.48 50.51 70.1 69.12 23.8 22.75 11.79 11.36 10.57 10.51 58.64

31 Amalgamations Repco Ltd. Drive transmission & steering parts 63.02 67.94 0.77 0.75 5.42 5.70 3.49 3.35 6% 5% 78.86 86.33 66.01 67.02 48.02 44 8.64 7.64 7.3 5.31 75.78

32 G S Auto International Ltd. Other Automobile ancillaries, nec 72.43 81.48 0.70 0.67 6.22 6.78 3.46 5.09 5% 6% 53.45 51.41 56.12 58.32 24.75 31.86 9.59 11 5.53 6.07 58.89

33 Amtek Siccardi (India) Ltd. Automobile ancillaries 183.13 267.33 0.76 0.74 1.57 2.22 31.97 57.3 17% 21% 81.49 68.77 73.74 72.12 17.99 7.25 122.21 101.39 12.21 1.61 98.03

34 Canara Workshops Ltd. Leaf springs (Automotive) 18.97 23.25 0.74 0.70 18.01 20.76 1.82 1.34 10% 6% 107.67 96.76 89.16 77.65 18.05 17.97 10.19 9.85 53.08 36.56 88.82

35 Rasandik Auto Components Pvt. Ltd. Automobile ancillaries 24.07 11.32 0.76 0.75 1.86 0.86 0.57 0.91 2% 8% 24.95 64.26 47.91 65.75 21.04 39.57 3.22 4.45 0 1.6 62.15

36 Autoline Industries Ltd. Automobile ancillaries, nec 163.23 239.69 0.79 0.78 1.47 2.14 25.24 38.77 15% 16% 14.48 18.43 44.96 37.53 58.36 48.05 8.2 5.45 4.18 2.28 45.30

37 Shivam Autotech Ltd. Automobile ancillaries 129.89 124.29 0.43 0.41 0.49 0.45 37.71 32.7 29% 26% 50.83 54.1 103.38 62.49 35.01 50.66 12.73 15.55 1.83 1.5 69.06

38 Hero Motors Ltd. Automobile ancillaries 137.67 241.35 0.81 0.89 0.51 0.99 13.22 35.44 10% 15% 40.88 22.97 110.69 57.63 35.05 18.87 3.88 2.58 6.3 6.92 38.77

39 Sona Okegawa Precision Forgings Ltd. Gears including crown wheels 113.33 138.13 0.47 0.50 1.17 1.53 23.74 12.54 21% 9% 56.67 78.5 68.29 85.33 31.5 32.99 15.55 14.72 4.26 3.26 75.06

40 T C Springs Ltd. Leaf springs (Automotive) 48.23 48.76 0.73 0.75 2.86 2.97 3.91 2.34 8% 5% NA 45.9 21.37 24.44 NA 53.01 NA 7.23 NA 2.32 53.14

41 X L O India Ltd. Steering gears 30.67 30.55 0.83 0.82 13.12 12.90 1.4 1.76 5% 6% 42.25 59.17 84.92 105.68 22.74 28.9 16.22 14.46 0 0.84 74.31

42 Sona Somic Lemforder Components Ltd. Drive transmission & steering parts 103.27 97.14 0.74 0.78 2.42 2.40 12.35 9.73 12% 10% 28.74 42.07 45.61 56.03 27.17 31.51 9.19 19.94 0.68 0.61 56.12

43 Deltronix India Ltd. Automobile ancillaries 23.96 28.43 0.64 0.65 0.95 1.13 4.55 5.79 19% 20% 45.71 46.95 34.06 30.11 76.32 75.1 5.83 8.68 3.34 4.6 67.71

44 Dynamatic Technologies Ltd. Hydraulic pumps 115.01 281.64 0.66 0.71 1.26 3.35 23.19 52.29 20% 19% 88.79 54.75 111.5 89.35 52.21 27.5 14.47 10.84 10.78 7.04 66.77

45 Allied Nippon Ltd. Brake linings 142.82 147.04 0.71 0.74 2.99 3.25 20.64 15.5 14% 11% 92.94 104.49 62.09 54.25 23.74 25.8 10.44 17.95 19.26 18.28 79.46

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 82: Reinventing the Supply Chain

46 Frontier Springs Ltd. Leaf springs (Automotive) 23.01 23.73 0.75 0.65 5.49 4.89 2.06 2.85 9% 12% 43.7 54.22 18.02 29.36 30.05 41.48 28.37 11.29 18.51 22.28 63.73

47 Amtek Ring Gears Ltd. Automobile ancillaries 189.59 207.96 0.77 0.71 1.51 1.53 32.88 50.18 17% 24% NA 45.92 60.38 74.06 NA 9.34 NA 106.73 NA 1.22 95.14

48 Indication Instruments Ltd. Auto dashboard instruments 55.18 64.25 0.72 0.70 2.30 2.62 6.58 8.12 12% 13% 53.37 55.76 44.11 41.68 37.28 32.11 13.87 15.17 14.42 12.69 59.91

49 K E W Industries Ltd. Automobile ancillaries 50.33 62.78 1.05 0.59 2.09 1.48 8.26 9.45 16% 15% 102.95 120.74 37.6 37.26 22.99 23.86 39.22 54.79 45.37 33.42 103.88

50 Hema Engineering Inds. Ltd. Automobile ancillaries 265.75 263.69 0.66 0.70 3.46 3.65 13.53 17.27 5% 7% 44.12 62.28 69.83 89.58 22.43 37.6 11.14 19.67 0.91 1.61 75.88

51 Autolite (India) Ltd. Auto head lights 60.73 71 0.73 0.62 1.82 1.80 9.27 13.07 15% 18% 45.76 60.33 106.53 96.67 22.41 45.27 5.14 8.8 7.15 7.58 78.45

52 Pinnacle Industries Ltd. Automobile ancillaries 80.4 82.98 0.84 0.85 4.74 4.94 4.55 9.37 6% 11% 59.39 71.23 103.29 107.29 40.6 46.13 7.16 13.73 2.52 1.93 85.63

53 H V Axles Ltd. Automobile ancillaries 196.19 202.15 0.18 0.19 0.19 0.21 112.12 115.12 57% 57% 0.1 3.09 24.62 29.16 145.12 196.34 16.37 20.78 0.09 0.17 118.51

54 Liners India Ltd. Cylinder liners 37.95 43.52 0.53 0.45 0.99 0.97 3.61 6.21 10% 14% 107.99 93.75 62.89 58.19 26.87 32.96 68.23 58.5 8.69 6.94 95.10

55 Kalyani Forge Ltd. Automobile ancillaries 182.83 191.71 0.68 0.70 1.85 1.98 26.02 26.8 14% 14% 66.03 85.05 54.31 76.45 30.96 49.25 20.59 23.73 0.35 2.73 86.87

56 Venus Industrial Corpn. Pvt. Ltd. Automobile ancillaries, nec 69.8 83.63 0.71 0.74 1.61 1.99 5.92 6.18 8% 7% NA 33.17 84.92 92.28 NA 25.55 NA 14.62 NA 1.89 59.23

57 I P Pins & Liners Ltd. Automobile engine parts 13.05 15.11 0.40 0.49 0.73 1.03 3.18 2.58 24% 17% 88.82 89.8 50.2 89.22 33.29 28.98 27.55 39.04 7.02 6.64 91.37

58 Sundaram Industries Ltd. Automobile ancillaries, nec 209.43 228.77 0.65 0.70 3.60 4.20 35.12 24.94 17% 11% 55.07 53.97 65.19 67.68 41.67 43.47 7.86 8.19 15.14 17.23 71.94

59 Lumax Auto Technologies Ltd. Automobile ancillaries 160.49 177.4 0.91 0.87 4.69 4.93 6.4 7.03 4% 4% 32 39.72 64.92 72.5 15.05 37.49 1.97 3.32 3.06 7.79 59.13

60 Ring Plus Aqua Ltd. Thickwall, thinwall bearings 72.28 81.78 0.51 0.55 1.21 1.47 16.67 15.38 23% 19% 68.94 73.45 83.41 72.65 70.26 67.06 9.29 10.45 13.83 11.58 88.82

61 Ghatge Patil Inds. Ltd. Auto castings 205.82 251.32 0.59 0.67 2.34 3.26 23.22 23.71 11% 9% 83.89 91.99 87.6 109.78 32.64 48.15 28.59 25.82 3.55 2.49 99.57

62 M & M Auto Inds. Ltd. Leaf springs (Automotive) 36.44 37.52 0.60 0.62 0.85 0.90 4.89 5.93 13% 16% 36.16 32.76 38.4 67.24 30.5 35.86 40.6 49.31 0.23 0.99 73.42

63 Samkrg Pistons & Rings Ltd. Pistons 83.41 94.13 0.47 0.45 0.77 0.83 20.18 20.96 24% 22% 76.56 81.4 62.42 64.67 45.52 51.34 30.36 35.09 6.85 5.59 90.13

64 Clutch Auto Ltd. Drive transmission & steering parts 234.94 217.55 0.68 0.71 2.34 2.24 40.55 33.47 17% 15% 128.68 157.9 59.72 69.27 28.58 34.02 38.71 51.99 8.92 9.51 116.53

65 Madras Radiators & Pressings Ltd. Automobile ancillaries, nec 24.9 25.88 0.73 0.78 6.90 7.66 1.67 1.83 7% 7% 69.45 83.6 41.98 53.49 69.72 76.1 27.84 31.66 0.95 2.68 98.05

66 India Pistons Ltd. Pistons 238.32 268.77 0.66 0.64 1.84 2.02 26 47.26 11% 18% 72.05 65.08 89.19 60.82 32.54 27.28 33.73 29.06 28.16 24.35 78.68

67 Gujarat Automotive Gears Ltd. Gears including crown wheels 10.15 10.72 0.62 0.67 5.07 5.75 0.9 1.18 9% 11% 49.28 55.4 62.46 62.14 34.45 26.43 65.25 50.82 17.53 15.32 82.85

68 Hi-Tech Gears Ltd. Drive transmission & steering parts 270.8 287.62 0.54 0.52 1.32 1.33 33.06 38.32 12% 13% 27.53 36.14 48.76 65.89 32.35 54.44 17.6 18.63 12.17 2.76 68.92

69 Fiem Industries Ltd. Other auto lights 168.29 179.02 0.78 0.78 1.10 1.17 25.3 24.83 15% 14% 35.88 42.71 68.96 55.58 28.38 32.56 15.62 24.94 2.52 4.15 60.73

70 Menon Bearings Ltd. Other Automobile ancillaries, nec 30.77 35.21 0.61 0.60 1.92 2.18 6.65 7.29 22% 21% 94.04 105.75 53.74 78.01 39.79 44.04 23.3 21.9 33.03 35.05 106.22

71 Triton Valves Ltd. Engine valves 64.32 74.91 0.85 0.75 2.41 2.50 5.09 7.86 8% 10% 66.76 76.81 29.31 31 54.55 63.67 21.39 23.9 5.52 6.44 80.02

72 Sundaram Auto Components Ltd. Brake hoses 133.16 138.99 0.77 0.79 1.82 1.94 12.73 7.74 10% 6% 30.6 34.95 79.63 67.75 18.34 25.07 8.93 10.54 10.8 9.18 53.76

73 Q H Talbros Ltd. Steering linkages 157.77 178.86 0.72 0.72 3.11 3.54 15.41 20.6 10% 12% 70.91 76.1 109.18 119.23 42.93 38.72 11.6 8.87 21.17 23.23 94.88

74 Steel Strips Wheels Ltd. Wheels for automobiles 198.57 261.49 0.70 0.69 0.81 1.05 44.47 48.57 22% 19% 33.01 38.24 34.68 102.74 76.14 62.53 6.56 6.74 2.27 5.58 80.10

75 Talbros Engineering Ltd. Axle shafts 51.71 60.87 0.75 0.71 3.00 3.36 3.63 4.94 7% 8% 59.59 55.32 56.79 73.18 24.19 25.01 63.89 63.14 5.51 5.79 86.35

76 Waaree Instruments Ltd. Pressure gauges 48.41 50.75 0.67 0.70 2.69 2.95 7.1 7.39 15% 15% NA 95.76 107.7 78.18 NA 120.91 NA 10.53 NA 14.15 125.74

77 yuken India Ltd. Fuel pumps 85.57 104.87 0.68 0.66 2.62 3.10 11.1 14.29 13% 14% 96.41 95.59 79.43 79.94 78.86 78.54 23.33 20.03 7.23 7.27 106.36

78 Remsons Industries Ltd. Automobile equipment 51.11 55.07 0.77 0.77 2.11 2.27 -2.59 1.73 -5% 3% 76.25 83.38 86.02 98.94 34.22 30.34 17.07 13.74 15.39 13.09 83.90

79 J B M Auto Ltd. Automobile ancillaries 145.13 186.53 0.70 0.80 1.48 2.15 19.29 20.96 13% 11% 73.75 66.78 71.15 95.4 38.99 35.92 39.8 61 0.84 0.92 98.19

80 N H K Spring India Ltd. Automobile ancillaries, nec 62.74 79.02 0.69 0.70 0.82 1.05 12.55 14.73 20% 19% 36.89 38.52 43.29 47.68 37.78 38.29 18.35 25.66 6.24 8.43 62.44

81 Bimetal Bearings Ltd. Thickwall, thinwall bearings 93.59 107.99 0.61 0.67 1.67 2.11 16.29 16.87 17% 16% 75.74 82.79 51.88 58.68 88.34 84.73 9.72 11.5 28.1 31.78 107.03

82 Apex Auto Ltd. Other Automobile ancillaries, nec 72.88 113.89 0.70 0.70 1.50 2.37 13.52 23.96 19% 21% 11.61 13.12 39.89 42.31 46.39 45.8 11.74 19.22 13.22 14.36 56.97

83 Abilities India Pistons & Rings Ltd. Pistons 10.15 10.84 0.55 0.72 0.75 1.05 1.53 1.31 15% 12% 125.07 120.5 38.29 67.63 26.54 25.39 26.69 37.73 32.24 27.78 102.27

84 Renowned Auto Products Mfrs. Ltd. Shock absorbers 76.22 83.3 0.85 0.85 8.33 9.11 3.58 -0.02 5% 0% 59.37 65.45 136.68 190.16 46.22 48.21 1.23 1.01 13.21 13.26 109.92

85 Eimco-K C P Ltd. Automobile engine parts 14.52 16.28 0.20 0.34 2.20 4.07 1.75 1.4 12% 9% 142.33 161.74 127.44 151.85 59.34 63.66 45.22 71.59 5.43 3.42 164.31

86 Federal-Mogul T P R (India) Ltd. Piston rings 41.94 62.99 0.31 0.27 0.56 0.74 10.13 14.09 24% 22% 167.26 122.34 64.43 38.4 363.19 206.02 31.98 28.77 40.15 16.13 173.93

87 Hella India Lighting Ltd. Auto head lights 22.7 22.51 0.75 0.89 2.81 3.31 -6.02 -0.59 -27% -3% 113.85 65.4 149.86 142.08 42.3 29.98 5.65 7.36 12.24 13.9 88.70

88 Bharat Gears Ltd. Gears including crown wheels 198.85 239.84 0.63 0.62 1.85 2.18 31.11 32.35 16% 13% 68.41 72.62 93.13 90.94 50.46 49.33 26.33 23.2 7.53 6.53 89.19

89 Victor Gaskets India Ltd. Gaskets 32.33 34.55 0.68 0.65 1.59 1.62 2.96 3.14 9% 9% 80.31 78.26 80.84 87.33 42 39.07 19.57 15.7 19.54 15.82 85.44

90 K A R Mobiles Ltd. Engine valves 70.99 89.69 0.57 0.64 3.26 4.60 6.39 7.02 9% 8% 82.05 70.56 68.72 67.52 92.6 76.39 17.85 16.09 20.34 11.7 94.58

91 Denison Hydraulics India Ltd. Hydraulic pumps 34.19 49.97 0.41 0.41 1.12 1.65 10.27 17 30% 34% 110.3 111.16 97.95 108.95 121.67 96.5 42.7 33.91 4.1 6.47 134.95

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers80

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 83: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 81

46 Frontier Springs Ltd. Leaf springs (Automotive) 23.01 23.73 0.75 0.65 5.49 4.89 2.06 2.85 9% 12% 43.7 54.22 18.02 29.36 30.05 41.48 28.37 11.29 18.51 22.28 63.73

47 Amtek Ring Gears Ltd. Automobile ancillaries 189.59 207.96 0.77 0.71 1.51 1.53 32.88 50.18 17% 24% NA 45.92 60.38 74.06 NA 9.34 NA 106.73 NA 1.22 95.14

48 Indication Instruments Ltd. Auto dashboard instruments 55.18 64.25 0.72 0.70 2.30 2.62 6.58 8.12 12% 13% 53.37 55.76 44.11 41.68 37.28 32.11 13.87 15.17 14.42 12.69 59.91

49 K E W Industries Ltd. Automobile ancillaries 50.33 62.78 1.05 0.59 2.09 1.48 8.26 9.45 16% 15% 102.95 120.74 37.6 37.26 22.99 23.86 39.22 54.79 45.37 33.42 103.88

50 Hema Engineering Inds. Ltd. Automobile ancillaries 265.75 263.69 0.66 0.70 3.46 3.65 13.53 17.27 5% 7% 44.12 62.28 69.83 89.58 22.43 37.6 11.14 19.67 0.91 1.61 75.88

51 Autolite (India) Ltd. Auto head lights 60.73 71 0.73 0.62 1.82 1.80 9.27 13.07 15% 18% 45.76 60.33 106.53 96.67 22.41 45.27 5.14 8.8 7.15 7.58 78.45

52 Pinnacle Industries Ltd. Automobile ancillaries 80.4 82.98 0.84 0.85 4.74 4.94 4.55 9.37 6% 11% 59.39 71.23 103.29 107.29 40.6 46.13 7.16 13.73 2.52 1.93 85.63

53 H V Axles Ltd. Automobile ancillaries 196.19 202.15 0.18 0.19 0.19 0.21 112.12 115.12 57% 57% 0.1 3.09 24.62 29.16 145.12 196.34 16.37 20.78 0.09 0.17 118.51

54 Liners India Ltd. Cylinder liners 37.95 43.52 0.53 0.45 0.99 0.97 3.61 6.21 10% 14% 107.99 93.75 62.89 58.19 26.87 32.96 68.23 58.5 8.69 6.94 95.10

55 Kalyani Forge Ltd. Automobile ancillaries 182.83 191.71 0.68 0.70 1.85 1.98 26.02 26.8 14% 14% 66.03 85.05 54.31 76.45 30.96 49.25 20.59 23.73 0.35 2.73 86.87

56 Venus Industrial Corpn. Pvt. Ltd. Automobile ancillaries, nec 69.8 83.63 0.71 0.74 1.61 1.99 5.92 6.18 8% 7% NA 33.17 84.92 92.28 NA 25.55 NA 14.62 NA 1.89 59.23

57 I P Pins & Liners Ltd. Automobile engine parts 13.05 15.11 0.40 0.49 0.73 1.03 3.18 2.58 24% 17% 88.82 89.8 50.2 89.22 33.29 28.98 27.55 39.04 7.02 6.64 91.37

58 Sundaram Industries Ltd. Automobile ancillaries, nec 209.43 228.77 0.65 0.70 3.60 4.20 35.12 24.94 17% 11% 55.07 53.97 65.19 67.68 41.67 43.47 7.86 8.19 15.14 17.23 71.94

59 Lumax Auto Technologies Ltd. Automobile ancillaries 160.49 177.4 0.91 0.87 4.69 4.93 6.4 7.03 4% 4% 32 39.72 64.92 72.5 15.05 37.49 1.97 3.32 3.06 7.79 59.13

60 Ring Plus Aqua Ltd. Thickwall, thinwall bearings 72.28 81.78 0.51 0.55 1.21 1.47 16.67 15.38 23% 19% 68.94 73.45 83.41 72.65 70.26 67.06 9.29 10.45 13.83 11.58 88.82

61 Ghatge Patil Inds. Ltd. Auto castings 205.82 251.32 0.59 0.67 2.34 3.26 23.22 23.71 11% 9% 83.89 91.99 87.6 109.78 32.64 48.15 28.59 25.82 3.55 2.49 99.57

62 M & M Auto Inds. Ltd. Leaf springs (Automotive) 36.44 37.52 0.60 0.62 0.85 0.90 4.89 5.93 13% 16% 36.16 32.76 38.4 67.24 30.5 35.86 40.6 49.31 0.23 0.99 73.42

63 Samkrg Pistons & Rings Ltd. Pistons 83.41 94.13 0.47 0.45 0.77 0.83 20.18 20.96 24% 22% 76.56 81.4 62.42 64.67 45.52 51.34 30.36 35.09 6.85 5.59 90.13

64 Clutch Auto Ltd. Drive transmission & steering parts 234.94 217.55 0.68 0.71 2.34 2.24 40.55 33.47 17% 15% 128.68 157.9 59.72 69.27 28.58 34.02 38.71 51.99 8.92 9.51 116.53

65 Madras Radiators & Pressings Ltd. Automobile ancillaries, nec 24.9 25.88 0.73 0.78 6.90 7.66 1.67 1.83 7% 7% 69.45 83.6 41.98 53.49 69.72 76.1 27.84 31.66 0.95 2.68 98.05

66 India Pistons Ltd. Pistons 238.32 268.77 0.66 0.64 1.84 2.02 26 47.26 11% 18% 72.05 65.08 89.19 60.82 32.54 27.28 33.73 29.06 28.16 24.35 78.68

67 Gujarat Automotive Gears Ltd. Gears including crown wheels 10.15 10.72 0.62 0.67 5.07 5.75 0.9 1.18 9% 11% 49.28 55.4 62.46 62.14 34.45 26.43 65.25 50.82 17.53 15.32 82.85

68 Hi-Tech Gears Ltd. Drive transmission & steering parts 270.8 287.62 0.54 0.52 1.32 1.33 33.06 38.32 12% 13% 27.53 36.14 48.76 65.89 32.35 54.44 17.6 18.63 12.17 2.76 68.92

69 Fiem Industries Ltd. Other auto lights 168.29 179.02 0.78 0.78 1.10 1.17 25.3 24.83 15% 14% 35.88 42.71 68.96 55.58 28.38 32.56 15.62 24.94 2.52 4.15 60.73

70 Menon Bearings Ltd. Other Automobile ancillaries, nec 30.77 35.21 0.61 0.60 1.92 2.18 6.65 7.29 22% 21% 94.04 105.75 53.74 78.01 39.79 44.04 23.3 21.9 33.03 35.05 106.22

71 Triton Valves Ltd. Engine valves 64.32 74.91 0.85 0.75 2.41 2.50 5.09 7.86 8% 10% 66.76 76.81 29.31 31 54.55 63.67 21.39 23.9 5.52 6.44 80.02

72 Sundaram Auto Components Ltd. Brake hoses 133.16 138.99 0.77 0.79 1.82 1.94 12.73 7.74 10% 6% 30.6 34.95 79.63 67.75 18.34 25.07 8.93 10.54 10.8 9.18 53.76

73 Q H Talbros Ltd. Steering linkages 157.77 178.86 0.72 0.72 3.11 3.54 15.41 20.6 10% 12% 70.91 76.1 109.18 119.23 42.93 38.72 11.6 8.87 21.17 23.23 94.88

74 Steel Strips Wheels Ltd. Wheels for automobiles 198.57 261.49 0.70 0.69 0.81 1.05 44.47 48.57 22% 19% 33.01 38.24 34.68 102.74 76.14 62.53 6.56 6.74 2.27 5.58 80.10

75 Talbros Engineering Ltd. Axle shafts 51.71 60.87 0.75 0.71 3.00 3.36 3.63 4.94 7% 8% 59.59 55.32 56.79 73.18 24.19 25.01 63.89 63.14 5.51 5.79 86.35

76 Waaree Instruments Ltd. Pressure gauges 48.41 50.75 0.67 0.70 2.69 2.95 7.1 7.39 15% 15% NA 95.76 107.7 78.18 NA 120.91 NA 10.53 NA 14.15 125.74

77 yuken India Ltd. Fuel pumps 85.57 104.87 0.68 0.66 2.62 3.10 11.1 14.29 13% 14% 96.41 95.59 79.43 79.94 78.86 78.54 23.33 20.03 7.23 7.27 106.36

78 Remsons Industries Ltd. Automobile equipment 51.11 55.07 0.77 0.77 2.11 2.27 -2.59 1.73 -5% 3% 76.25 83.38 86.02 98.94 34.22 30.34 17.07 13.74 15.39 13.09 83.90

79 J B M Auto Ltd. Automobile ancillaries 145.13 186.53 0.70 0.80 1.48 2.15 19.29 20.96 13% 11% 73.75 66.78 71.15 95.4 38.99 35.92 39.8 61 0.84 0.92 98.19

80 N H K Spring India Ltd. Automobile ancillaries, nec 62.74 79.02 0.69 0.70 0.82 1.05 12.55 14.73 20% 19% 36.89 38.52 43.29 47.68 37.78 38.29 18.35 25.66 6.24 8.43 62.44

81 Bimetal Bearings Ltd. Thickwall, thinwall bearings 93.59 107.99 0.61 0.67 1.67 2.11 16.29 16.87 17% 16% 75.74 82.79 51.88 58.68 88.34 84.73 9.72 11.5 28.1 31.78 107.03

82 Apex Auto Ltd. Other Automobile ancillaries, nec 72.88 113.89 0.70 0.70 1.50 2.37 13.52 23.96 19% 21% 11.61 13.12 39.89 42.31 46.39 45.8 11.74 19.22 13.22 14.36 56.97

83 Abilities India Pistons & Rings Ltd. Pistons 10.15 10.84 0.55 0.72 0.75 1.05 1.53 1.31 15% 12% 125.07 120.5 38.29 67.63 26.54 25.39 26.69 37.73 32.24 27.78 102.27

84 Renowned Auto Products Mfrs. Ltd. Shock absorbers 76.22 83.3 0.85 0.85 8.33 9.11 3.58 -0.02 5% 0% 59.37 65.45 136.68 190.16 46.22 48.21 1.23 1.01 13.21 13.26 109.92

85 Eimco-K C P Ltd. Automobile engine parts 14.52 16.28 0.20 0.34 2.20 4.07 1.75 1.4 12% 9% 142.33 161.74 127.44 151.85 59.34 63.66 45.22 71.59 5.43 3.42 164.31

86 Federal-Mogul T P R (India) Ltd. Piston rings 41.94 62.99 0.31 0.27 0.56 0.74 10.13 14.09 24% 22% 167.26 122.34 64.43 38.4 363.19 206.02 31.98 28.77 40.15 16.13 173.93

87 Hella India Lighting Ltd. Auto head lights 22.7 22.51 0.75 0.89 2.81 3.31 -6.02 -0.59 -27% -3% 113.85 65.4 149.86 142.08 42.3 29.98 5.65 7.36 12.24 13.9 88.70

88 Bharat Gears Ltd. Gears including crown wheels 198.85 239.84 0.63 0.62 1.85 2.18 31.11 32.35 16% 13% 68.41 72.62 93.13 90.94 50.46 49.33 26.33 23.2 7.53 6.53 89.19

89 Victor Gaskets India Ltd. Gaskets 32.33 34.55 0.68 0.65 1.59 1.62 2.96 3.14 9% 9% 80.31 78.26 80.84 87.33 42 39.07 19.57 15.7 19.54 15.82 85.44

90 K A R Mobiles Ltd. Engine valves 70.99 89.69 0.57 0.64 3.26 4.60 6.39 7.02 9% 8% 82.05 70.56 68.72 67.52 92.6 76.39 17.85 16.09 20.34 11.7 94.58

91 Denison Hydraulics India Ltd. Hydraulic pumps 34.19 49.97 0.41 0.41 1.12 1.65 10.27 17 30% 34% 110.3 111.16 97.95 108.95 121.67 96.5 42.7 33.91 4.1 6.47 134.95

Au

to

An

CIl

lA

rIE

s

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 84: Reinventing the Supply Chain

92 H V Transmissions Ltd. Drive transmission & steering parts 175.27 190.84 0.23 0.23 0.25 0.27 88.48 98.57 50% 52% 0.16 0.1 135.29 126.63 226.11 251.43 15.75 16.11 0.22 0.06 172.02

93 A B I-Showatech (India) Ltd. Automobile ancillaries, nec 138 128.78 0.50 0.50 1.26 1.19 39.64 44.92 29% 35% 46.6 55.99 51.17 107.83 40.84 48.24 6.3 9.88 13.82 38.15 97.69

94 Perfect Circle India Ltd. Automobile engine parts 73.08 78.4 0.54 0.49 0.75 0.73 -2.99 8.22 -4% 10% 68.3 66.1 66.23 76.46 28.99 28.75 21.3 20.85 24.09 25.99 80.83

95 Rasandik Engineering Inds. India Ltd. Automobile ancillaries, nec 159.2 183.53 0.81 0.77 1.02 1.10 15.24 26.62 10% 15% 43.28 38.64 94.62 97.21 22.79 25.47 15.94 27.56 6.31 5.97 70.66

96 Pradeep Metals Ltd. Automobile ancillaries 54.68 70.47 0.73 0.73 2.29 2.97 6.97 5.67 13% 8% 73.11 75.11 72.25 67.71 128.47 104.63 75.15 67.58 0.76 0.93 130.17

97 Luxite Industries Ltd. Thickwall, thinwall bearings 17.56 17.61 0.51 0.57 1.90 2.13 2.97 3.21 17% 18% 92.36 104.41 36.47 36.93 131.22 101.77 105.81 77.54 19.49 18.63 141.95

98 Hindustan Composites Ltd. Brake linings 66.08 71.57 0.62 0.63 0.85 0.93 1.12 4.74 2% 7% 75.88 68.14 101.17 85.22 52.45 48.57 16.56 17.53 11.94 8.33 83.55

99 Simmonds Marshall Ltd. Other Automobile ancillaries, nec 24.34 30.72 0.66 0.63 5.57 6.79 4.37 6.45 18% 21% 57.06 67.27 49.93 57.51 86.78 99.5 59.75 59.68 16.84 16.61 126.86

100 Micro Forge (India) Ltd. Automobile engine parts 71.58 77.56 0.91 1.04 43.05 53.41 6.56 -14.48 9% -19% 22.7 20.05 43.19 34.94 56.8 43.28 20.37 18.12 18.64 15.74 65.92

101 Schrader Duncan Ltd. Automobile engine parts 54.27 56.86 0.87 0.77 10.04 9.28 28.18 4.51 52% 8% 71.09 75.5 72.01 70 39.92 46.68 26.39 31.43 13.36 15.04 92.25

102 Ramkrishna Forgings Ltd. Automobile ancillaries 146.17 202.02 0.68 0.71 1.14 1.63 31.24 44.54 21% 22% 52.36 51.33 82.61 103.34 113 146 35.17 41.81 0.15 0.15 140.89

103 Raunaq Automotive Components Ltd. Drive transmission & steering parts 54.24 52.05 0.69 0.68 2.17 2.05 6.8 5.11 13% 10% 39.63 41.58 78.57 58.7 41.63 48.72 20.89 21.77 8.7 11.44 71.62

104 I P Rings Ltd. Piston rings 49.26 53.9 0.51 0.48 0.66 0.68 10.75 9.22 22% 17% 61.07 73.96 52.36 47.64 114.49 115.72 17.3 28.1 18.01 14.03 115.67

105 J M T Auto Ltd. Drive transmission & steering parts 162.98 201.3 0.73 0.71 0.91 1.09 26.63 36.66 16% 18% 25.75 30.64 71.19 86.69 126.46 179.22 13.89 20.02 1.37 1.11 135.77

106 Amforge Industries Ltd. Automobile ancillaries 55.29 50.8 0.79 0.82 3.32 3.16 -9.47 0.1 -17% 0% 86.74 87.14 79.26 101.09 58.95 48.94 10.56 9.29 14.54 18.76 95.76

107 Ceekay Daikin Ltd. Drive transmission & steering parts 86.36 97.15 0.73 0.73 1.68 1.90 11.82 11.51 14% 12% 56 51.32 60.13 63.62 65.49 59.04 68.87 62.17 4.81 3.4 97.34

108 Roto Pumps Ltd. Rotor pumps 31.65 39.97 0.69 0.65 3.85 4.53 4.5 6.57 14% 16% 76.6 78.65 79.09 71.75 98.7 77.85 22.61 26.16 66.11 70.57 133.48

109 Tata yazaki Autocomp Ltd. Wiring harness & parts 243.07 255.11 0.82 0.77 3.96 3.92 7.57 6.76 3% 3% 35.16 35.24 96.18 86.74 73.65 70.77 11.9 13.22 6.98 5.03 82.05

110 E L Forge Ltd. Automobile ancillaries 100.14 105.75 0.73 0.77 1.19 1.32 16.08 18.84 16% 18% 63.46 77.56 57.7 108.73 149.7 156.28 0.75 0.76 44.58 62.52 166.12

111 Automotive Coaches & Components Ltd. Automobile bodies 127.51 114.99 0.79 0.78 6.62 5.89 7.78 2.38 6% 2% 38.65 53.7 85.36 95.48 64.05 84.75 23.82 25.53 1.39 1.94 102.20

112 Uni Klinger Ltd. Gaskets 35.62 31.38 0.56 0.60 1.22 1.15 8.23 5.69 23% 18% 65.94 76.83 71.23 61.47 77.45 122.95 47.5 76.91 10.52 8.49 146.05

113 Mahindra Sar Transmission Pvt. Ltd. Automobile ancillaries 46.01 62.1 0.58 0.61 0.74 1.06 4.44 8.66 10% 14% 87.14 84.62 100.01 97.85 36.1 48.13 65.01 46.24 9.97 18.1 111.34

114 K L T Automotive & Tubular Products Ltd. Automobile engine parts 282.28 295.94 0.80 0.67 1.02 0.90 50.53 59.24 18% 20% 49.92 63.08 87.07 82.05 51.56 66.06 10.96 15.62 28.58 38.16 103.81

115 A N G Auto Ltd. Suspension & braking parts 114.14 145.28 0.65 0.77 2.03 3.06 31.49 34.1 28% 23% 108.32 105.74 71.35 73.96 42.51 67.94 62.94 61.78 17.59 31.79 135.48

116 Lumax Automotive Systems Ltd. Filter elements, inserts 96.99 102.08 0.79 0.77 1.38 1.41 9.48 8.99 10% 9% 69.15 72.34 113.93 116.55 47.74 60.55 27.56 31.78 3.91 3.85 105.21

117 Federal-Mogul Bearings India Ltd. Bimetal bearings 35.24 38.1 0.79 0.93 1.04 1.32 -8.22 -12.81 -23% -34% NA 89.67 151.79 66.36 NA 50.03 NA 14.15 NA 51.64 105.10

118 Talbros Automotive Components Ltd. Gaskets 160.21 177.89 0.71 0.72 1.50 1.67 20.73 23.01 13% 13% 63.07 74.22 74.53 119.33 58.72 78.72 13.62 22.43 17.38 18.06 118.17

119 Vybra Automet Ltd. Automobile ancillaries 57.91 60.2 0.68 0.71 0.87 0.95 7.67 9.74 13% 16% 35.56 32.2 33.89 34.67 45.57 74.09 22.81 39.81 29.19 32.98 93.87

120 Shardlow India Ltd. Crankshafts 78.84 94.13 0.77 0.86 3.93 5.24 4.99 3.67 6% 4% 56.38 45.82 112.83 104.24 91.85 64.36 48.39 55.59 6.82 5.78 109.11

121 Krishna Engineering Works Ltd. Auto castings 34.78 40.05 1.34 0.97 2.40 2.01 0.76 -0.72 2% -2% 78.09 39.22 166.91 225.05 24.12 17.09 33.27 35.63 39.44 61.53 137.00

122 Harig Crankshafts Ltd. Crankshafts 45.97 35.6 0.73 0.69 1.09 0.80 7.24 6.57 16% 18% 77.43 118.93 115.58 175.72 69.01 96.48 82.6 138.5 68.24 88.14 250.29

123 Gajra Gears Pvt. Ltd. Gears including crown wheels 115.44 119.61 0.67 0.61 1.50 1.41 13.56 4.23 12% 4% 45.01 48.13 111.09 119.73 62.4 70.03 72.4 56.67 43.35 38.45 133.34

1 Tecpro Ashtech Ltd. Ash handling plants 67.11 76.75 0.73 0.64 25.90 24.74 0.19 4.26 0% 6% 225.64 265.51 233.17 275.93 11.15 18.98 0 2.4 0.03 0.05 17.0

2 Avon Cycles Ltd. Bicycles 296.56 328.27 0.73 0.75 11.17 4.57 20.38 26.81 7% 8% 84.15 87.68 61.03 84.53 2.93 3.01 1.42 1.29 10.87 13.4 23.0

3 Rockman Industries Ltd. Bicycles 214.18 220.38 0.78 0.75 2.45 1.10 22.46 27.28 10% 12% NA 50 60.17 71.44 NA 10.26 NA 7.2 NA 0.56 23.1

4 T R F Ltd. Material handling equipment 337.85 364.74 0.59 0.61 18.95 17.92 34.47 63.65 10% 17% 162.91 192.12 241.93 305.5 8.51 9.73 21.85 22.06 1.82 3.07 23.3

5 Apollo Earthmovers Ltd. Earth moving machinery 40.55 58.72 0.80 0.73 15.88 8.60 5.14 12.39 13% 21% 16.32 12.43 73.86 44.32 23.44 24.71 19.45 2.12 6.94 7.64 23.9

6 Milton Cycle Inds. Ltd. Bicycle parts & accessories 39.75 56.63 0.92 0.87 8.09 10.93 0.88 1.19 2% 2% 52.17 72.3 113.94 117.86 20.48 20.95 8.07 7.16 2.25 1.97 27.1

7 Jost'S Engineering Co. Ltd. Material handling equipment 36.59 41.72 0.60 0.73 18.58 19.84 4.68 2.65 13% 6% 128.29 104.54 123.75 123.78 46.55 62.26 4.74 5.77 7.91 10.01 29.4

8 Gujarat Apollo Inds. Ltd. Other construction machinery 140.86 183.91 0.67 0.52 3.22 3.10 31.45 53.59 22% 29% 57.53 60.88 81.66 47.58 61.77 55.51 19.84 18.98 8.3 13.14 30.2

9 Hercules Hoists Ltd. Other cranes 90.87 93.79 0.51 0.50 1.73 1.65 34.31 30.88 38% 33% 64.9 76.87 58.33 54.03 124.9 131.5 20.28 26.21 1.42 1.27 31.0

10 Majestic Auto Ltd. Mopeds 120.78 113.21 0.85 0.82 1.66 1.52 1.03 9.9 1% 9% 76.61 53.66 67.27 67.93 45.68 32.62 14.3 12.8 2.49 4.1 31.1

11 Stone India Ltd. Railway & tramway equipment 71.28 82.37 0.73 0.73 1.34 1.61 10.72 6.11 15% 7% 98.17 97.38 89.92 94.61 60.23 57.39 30.68 27.14 4.06 1.96 32.7

12 Andhra Pradesh Heavy Machinery & Engg. Ltd. Material handling equipment 52.15 60.13 0.73 0.70 13.89 13.17 8.05 6.55 15% 11% 83.53 82.19 51.03 43.65 132.47 141.81 49.47 27.62 3.78 3.77 33.2

13 Mahindra Gujarat Tractor Ltd. Tractors 79.83 80.14 0.86 0.86 37.61 32.21 2.14 3.42 3% 4% 46.76 53.26 98.59 92.27 46.02 50.85 11 10.03 10.54 18.78 35.5

Automobile And ConstruCtion equipment

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers82

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 85: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 83

92 H V Transmissions Ltd. Drive transmission & steering parts 175.27 190.84 0.23 0.23 0.25 0.27 88.48 98.57 50% 52% 0.16 0.1 135.29 126.63 226.11 251.43 15.75 16.11 0.22 0.06 172.02

93 A B I-Showatech (India) Ltd. Automobile ancillaries, nec 138 128.78 0.50 0.50 1.26 1.19 39.64 44.92 29% 35% 46.6 55.99 51.17 107.83 40.84 48.24 6.3 9.88 13.82 38.15 97.69

94 Perfect Circle India Ltd. Automobile engine parts 73.08 78.4 0.54 0.49 0.75 0.73 -2.99 8.22 -4% 10% 68.3 66.1 66.23 76.46 28.99 28.75 21.3 20.85 24.09 25.99 80.83

95 Rasandik Engineering Inds. India Ltd. Automobile ancillaries, nec 159.2 183.53 0.81 0.77 1.02 1.10 15.24 26.62 10% 15% 43.28 38.64 94.62 97.21 22.79 25.47 15.94 27.56 6.31 5.97 70.66

96 Pradeep Metals Ltd. Automobile ancillaries 54.68 70.47 0.73 0.73 2.29 2.97 6.97 5.67 13% 8% 73.11 75.11 72.25 67.71 128.47 104.63 75.15 67.58 0.76 0.93 130.17

97 Luxite Industries Ltd. Thickwall, thinwall bearings 17.56 17.61 0.51 0.57 1.90 2.13 2.97 3.21 17% 18% 92.36 104.41 36.47 36.93 131.22 101.77 105.81 77.54 19.49 18.63 141.95

98 Hindustan Composites Ltd. Brake linings 66.08 71.57 0.62 0.63 0.85 0.93 1.12 4.74 2% 7% 75.88 68.14 101.17 85.22 52.45 48.57 16.56 17.53 11.94 8.33 83.55

99 Simmonds Marshall Ltd. Other Automobile ancillaries, nec 24.34 30.72 0.66 0.63 5.57 6.79 4.37 6.45 18% 21% 57.06 67.27 49.93 57.51 86.78 99.5 59.75 59.68 16.84 16.61 126.86

100 Micro Forge (India) Ltd. Automobile engine parts 71.58 77.56 0.91 1.04 43.05 53.41 6.56 -14.48 9% -19% 22.7 20.05 43.19 34.94 56.8 43.28 20.37 18.12 18.64 15.74 65.92

101 Schrader Duncan Ltd. Automobile engine parts 54.27 56.86 0.87 0.77 10.04 9.28 28.18 4.51 52% 8% 71.09 75.5 72.01 70 39.92 46.68 26.39 31.43 13.36 15.04 92.25

102 Ramkrishna Forgings Ltd. Automobile ancillaries 146.17 202.02 0.68 0.71 1.14 1.63 31.24 44.54 21% 22% 52.36 51.33 82.61 103.34 113 146 35.17 41.81 0.15 0.15 140.89

103 Raunaq Automotive Components Ltd. Drive transmission & steering parts 54.24 52.05 0.69 0.68 2.17 2.05 6.8 5.11 13% 10% 39.63 41.58 78.57 58.7 41.63 48.72 20.89 21.77 8.7 11.44 71.62

104 I P Rings Ltd. Piston rings 49.26 53.9 0.51 0.48 0.66 0.68 10.75 9.22 22% 17% 61.07 73.96 52.36 47.64 114.49 115.72 17.3 28.1 18.01 14.03 115.67

105 J M T Auto Ltd. Drive transmission & steering parts 162.98 201.3 0.73 0.71 0.91 1.09 26.63 36.66 16% 18% 25.75 30.64 71.19 86.69 126.46 179.22 13.89 20.02 1.37 1.11 135.77

106 Amforge Industries Ltd. Automobile ancillaries 55.29 50.8 0.79 0.82 3.32 3.16 -9.47 0.1 -17% 0% 86.74 87.14 79.26 101.09 58.95 48.94 10.56 9.29 14.54 18.76 95.76

107 Ceekay Daikin Ltd. Drive transmission & steering parts 86.36 97.15 0.73 0.73 1.68 1.90 11.82 11.51 14% 12% 56 51.32 60.13 63.62 65.49 59.04 68.87 62.17 4.81 3.4 97.34

108 Roto Pumps Ltd. Rotor pumps 31.65 39.97 0.69 0.65 3.85 4.53 4.5 6.57 14% 16% 76.6 78.65 79.09 71.75 98.7 77.85 22.61 26.16 66.11 70.57 133.48

109 Tata yazaki Autocomp Ltd. Wiring harness & parts 243.07 255.11 0.82 0.77 3.96 3.92 7.57 6.76 3% 3% 35.16 35.24 96.18 86.74 73.65 70.77 11.9 13.22 6.98 5.03 82.05

110 E L Forge Ltd. Automobile ancillaries 100.14 105.75 0.73 0.77 1.19 1.32 16.08 18.84 16% 18% 63.46 77.56 57.7 108.73 149.7 156.28 0.75 0.76 44.58 62.52 166.12

111 Automotive Coaches & Components Ltd. Automobile bodies 127.51 114.99 0.79 0.78 6.62 5.89 7.78 2.38 6% 2% 38.65 53.7 85.36 95.48 64.05 84.75 23.82 25.53 1.39 1.94 102.20

112 Uni Klinger Ltd. Gaskets 35.62 31.38 0.56 0.60 1.22 1.15 8.23 5.69 23% 18% 65.94 76.83 71.23 61.47 77.45 122.95 47.5 76.91 10.52 8.49 146.05

113 Mahindra Sar Transmission Pvt. Ltd. Automobile ancillaries 46.01 62.1 0.58 0.61 0.74 1.06 4.44 8.66 10% 14% 87.14 84.62 100.01 97.85 36.1 48.13 65.01 46.24 9.97 18.1 111.34

114 K L T Automotive & Tubular Products Ltd. Automobile engine parts 282.28 295.94 0.80 0.67 1.02 0.90 50.53 59.24 18% 20% 49.92 63.08 87.07 82.05 51.56 66.06 10.96 15.62 28.58 38.16 103.81

115 A N G Auto Ltd. Suspension & braking parts 114.14 145.28 0.65 0.77 2.03 3.06 31.49 34.1 28% 23% 108.32 105.74 71.35 73.96 42.51 67.94 62.94 61.78 17.59 31.79 135.48

116 Lumax Automotive Systems Ltd. Filter elements, inserts 96.99 102.08 0.79 0.77 1.38 1.41 9.48 8.99 10% 9% 69.15 72.34 113.93 116.55 47.74 60.55 27.56 31.78 3.91 3.85 105.21

117 Federal-Mogul Bearings India Ltd. Bimetal bearings 35.24 38.1 0.79 0.93 1.04 1.32 -8.22 -12.81 -23% -34% NA 89.67 151.79 66.36 NA 50.03 NA 14.15 NA 51.64 105.10

118 Talbros Automotive Components Ltd. Gaskets 160.21 177.89 0.71 0.72 1.50 1.67 20.73 23.01 13% 13% 63.07 74.22 74.53 119.33 58.72 78.72 13.62 22.43 17.38 18.06 118.17

119 Vybra Automet Ltd. Automobile ancillaries 57.91 60.2 0.68 0.71 0.87 0.95 7.67 9.74 13% 16% 35.56 32.2 33.89 34.67 45.57 74.09 22.81 39.81 29.19 32.98 93.87

120 Shardlow India Ltd. Crankshafts 78.84 94.13 0.77 0.86 3.93 5.24 4.99 3.67 6% 4% 56.38 45.82 112.83 104.24 91.85 64.36 48.39 55.59 6.82 5.78 109.11

121 Krishna Engineering Works Ltd. Auto castings 34.78 40.05 1.34 0.97 2.40 2.01 0.76 -0.72 2% -2% 78.09 39.22 166.91 225.05 24.12 17.09 33.27 35.63 39.44 61.53 137.00

122 Harig Crankshafts Ltd. Crankshafts 45.97 35.6 0.73 0.69 1.09 0.80 7.24 6.57 16% 18% 77.43 118.93 115.58 175.72 69.01 96.48 82.6 138.5 68.24 88.14 250.29

123 Gajra Gears Pvt. Ltd. Gears including crown wheels 115.44 119.61 0.67 0.61 1.50 1.41 13.56 4.23 12% 4% 45.01 48.13 111.09 119.73 62.4 70.03 72.4 56.67 43.35 38.45 133.34

1 Tecpro Ashtech Ltd. Ash handling plants 67.11 76.75 0.73 0.64 25.90 24.74 0.19 4.26 0% 6% 225.64 265.51 233.17 275.93 11.15 18.98 0 2.4 0.03 0.05 17.0

2 Avon Cycles Ltd. Bicycles 296.56 328.27 0.73 0.75 11.17 4.57 20.38 26.81 7% 8% 84.15 87.68 61.03 84.53 2.93 3.01 1.42 1.29 10.87 13.4 23.0

3 Rockman Industries Ltd. Bicycles 214.18 220.38 0.78 0.75 2.45 1.10 22.46 27.28 10% 12% NA 50 60.17 71.44 NA 10.26 NA 7.2 NA 0.56 23.1

4 T R F Ltd. Material handling equipment 337.85 364.74 0.59 0.61 18.95 17.92 34.47 63.65 10% 17% 162.91 192.12 241.93 305.5 8.51 9.73 21.85 22.06 1.82 3.07 23.3

5 Apollo Earthmovers Ltd. Earth moving machinery 40.55 58.72 0.80 0.73 15.88 8.60 5.14 12.39 13% 21% 16.32 12.43 73.86 44.32 23.44 24.71 19.45 2.12 6.94 7.64 23.9

6 Milton Cycle Inds. Ltd. Bicycle parts & accessories 39.75 56.63 0.92 0.87 8.09 10.93 0.88 1.19 2% 2% 52.17 72.3 113.94 117.86 20.48 20.95 8.07 7.16 2.25 1.97 27.1

7 Jost'S Engineering Co. Ltd. Material handling equipment 36.59 41.72 0.60 0.73 18.58 19.84 4.68 2.65 13% 6% 128.29 104.54 123.75 123.78 46.55 62.26 4.74 5.77 7.91 10.01 29.4

8 Gujarat Apollo Inds. Ltd. Other construction machinery 140.86 183.91 0.67 0.52 3.22 3.10 31.45 53.59 22% 29% 57.53 60.88 81.66 47.58 61.77 55.51 19.84 18.98 8.3 13.14 30.2

9 Hercules Hoists Ltd. Other cranes 90.87 93.79 0.51 0.50 1.73 1.65 34.31 30.88 38% 33% 64.9 76.87 58.33 54.03 124.9 131.5 20.28 26.21 1.42 1.27 31.0

10 Majestic Auto Ltd. Mopeds 120.78 113.21 0.85 0.82 1.66 1.52 1.03 9.9 1% 9% 76.61 53.66 67.27 67.93 45.68 32.62 14.3 12.8 2.49 4.1 31.1

11 Stone India Ltd. Railway & tramway equipment 71.28 82.37 0.73 0.73 1.34 1.61 10.72 6.11 15% 7% 98.17 97.38 89.92 94.61 60.23 57.39 30.68 27.14 4.06 1.96 32.7

12 Andhra Pradesh Heavy Machinery & Engg. Ltd. Material handling equipment 52.15 60.13 0.73 0.70 13.89 13.17 8.05 6.55 15% 11% 83.53 82.19 51.03 43.65 132.47 141.81 49.47 27.62 3.78 3.77 33.2

13 Mahindra Gujarat Tractor Ltd. Tractors 79.83 80.14 0.86 0.86 37.61 32.21 2.14 3.42 3% 4% 46.76 53.26 98.59 92.27 46.02 50.85 11 10.03 10.54 18.78 35.5

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 86: Reinventing the Supply Chain

14 Skyline Millars Ltd. Construction machinery 17.79 22.07 0.47 0.44 4.19 4.40 2.71 6.59 15% 30% 61.96 43.35 243.52 169.79 48.56 63.94 24.02 17.34 4.62 11.19 36.0

15 Eimco Elecon (India) Ltd. Mining machinery 99.22 120.2 0.49 0.59 1.07 1.78 23.28 28.87 23% 24% 111.48 78.25 61.15 40.94 372.37 213.53 64.47 51.19 4.06 4.65 36.6

16 H M T Ltd. Tractors 323.28 234.08 0.58 0.84 5.11 5.13 132.12 21.89 41% 9% 257.01 353.56 196.43 178.83 51.87 53.76 21.28 20.57 11.2 25.73 37.6

17 Brady & Morris Engg. Co. Ltd. Other material handling equipment 13.99 20.77 0.69 0.75 1.84 1.97 1.85 2.65 13% 13% 55.85 60.73 100.39 105.9 73.63 73.73 106.12 140.21 0 0.77 39.1

18 Hamilton Industries Pvt. Ltd. Bicycles 41.02 25.06 0.82 0.68 15.51 8.45 -0.38 -1.76 -1% -7% NA 82.22 96.9 100.14 NA 95.22 NA 8.52 NA 28.37 39.5

19 Mcnally Sayaji Engg. Ltd. Construction machinery 52.06 60.3 0.72 0.76 2.58 2.45 11.96 11.16 23% 19% 33.5 24.73 94.01 84.59 47.79 38.16 51.59 61.19 8.12 8.02 39.6

20 Atul Auto Ltd. Three wheelers 123.91 82.09 0.89 0.81 3.41 1.68 8.94 7.33 7% 9% 21.81 23.93 24.3 30.39 33.65 68.8 16.06 37.18 3.04 5.84 40.4

21 Tractor Engineers Ltd. Crawler tractors 95.51 173.68 0.75 0.95 2.31 3.99 17.79 4.21 19% 2% 67.32 76.5 67.41 114.01 130.03 101.42 2.89 0.99 31.01 25.75 41.4

22 Kinetic Engineering Ltd. Mopeds 152.63 82.68 0.73 0.99 2.40 1.56 -21.77 2.39 -14% 3% 156.39 326.84 158.59 128.89 61.2 83.69 30.54 26.14 16.69 4.24 41.6

23 Scooters India Ltd. Three wheelers 170.29 138.76 0.91 0.82 8.15 6.00 -16.88 -16.55 -10% -12% 31.4 20.55 68.61 63.67 50.71 72.56 16.6 22.6 40.77 39.16 47.8

24 Man Force Trucks Pvt. Ltd. Commercial vehicles 22.07 124.01 1.75 1.24 0.26 0.82 -15.16 -61.08 -69% -49% NA 26.38 935.13 486.74 NA 283.81 NA 10.14 NA 20.06 55.8

25 L M L Ltd. Scooters 330.62 65.33 0.87 0.98 1.38 0.35 -103.19 -14.58 -31% -22% 11.53 43.78 168.12 1001.23 134.23 648.81 16.21 66.6 5.3 14.99 61.6

1 Anjani Portland Cement Ltd. Cement 67.26 100.25 0.54 0.47 0.80 0.86 19.46 31.97 29% 32% 24.14 21.44 49.11 51.31 73.48 94.76 38.62 30.18 0.07 0.06 12.8

2 Indorama Cement Ltd. [Merged] Portland slag cement 117.08 166.04 0.58 0.58 0.64 1.05 31.16 46.36 27% 28% 31.13 39.86 76.48 91.45 35.69 25.51 0.36 0.39 6.58 2.53 13.1

3 Deccan Cements Ltd. Cement 143.04 188.23 0.32 0.33 0.59 0.23 49.17 80.02 34% 43% 3.88 1.91 26.45 42.01 78.04 58.43 2.65 6.32 2.06 2.23 14.7

4 Panyam Cements & Mineral Inds. Ltd. Cement 94.51 154.27 0.54 0.42 1.37 1.51 18.72 52.35 20% 34% 19.64 19.45 388.13 297.87 93.04 116.78 7.21 10.98 0.3 0.49 16.6

5 Kakatiya Cement Sugar & Inds. Ltd. Cement 121.79 148.89 0.99 0.72 1.27 1.19 33.09 34.83 27% 23% 32.11 25.47 39.61 38.89 56.95 52.04 3.85 4.5 98.68 118.74 17.6

6 Sainik Finance & Inds. Ltd. Ordinary portland cement 11.48 12.68 0.52 0.63 1.15 1.15 3.61 3.06 31% 24% 196.58 175.51 196.09 136.08 40.06 68.15 15.46 19.64 0.58 6.55 19.6

7 Sagar Cements Ltd. Cement 198.4 223.62 0.62 0.59 1.58 0.44 43.31 56.9 22% 25% 12.84 9.07 30.99 59.03 114.91 118.85 2.96 1.68 0.4 0.34 20.1

8 Barak Valley Cements Ltd. Cement 72.68 69.24 0.45 0.52 0.74 0.74 24.62 21.46 34% 31% 15.01 18.73 23.07 39.47 82.55 127.74 9.89 22.73 1.69 1.51 20.6

9 Shiva Cement Ltd. Cement 22.69 24.81 0.71 0.63 0.30 0.24 5.14 8.5 23% 34% 39.03 29.4 73.88 53.82 112.19 123.14 4.65 10.67 5.62 5.74 22.9

10 N C L Industries Ltd. Cement 148.64 194.21 0.47 0.43 0.38 0.36 45.39 68.89 31% 35% 50.49 46.73 106.67 99.34 96.63 120.71 30.9 19.5 24.54 22.09 23.1

11 Meghalaya Cement Ltd. Cement 125.75 218.05 0.31 0.22 0.42 0.41 45.84 105.71 36% 48% NA 19.35 69.74 70.38 NA 203 NA 33.65 NA 2.76 25.4

12 Vinay Cements Ltd. Portland slag cement 48.46 40.07 0.48 0.50 1.20 1.07 11.09 6.73 23% 17% 133.57 191.42 151.89 198.59 114.59 163.26 26.79 28.64 9.73 8.5 27.0

13 Shree Digvijay Cement Co. Ltd. Cement 262.12 254.93 0.48 0.57 1.64 1.49 61.7 -6.65 24% -3% 16.55 16.69 62.99 57.81 109.88 169.29 12.76 14.67 4.8 6.81 28.5

14 Kalyanpur Cements Ltd. Cement 141.88 154.72 0.55 0.55 0.69 0.85 20.17 59.47 14% 38% 2.34 4.22 96.52 119.83 187.58 178.38 17.16 15.03 3.41 5.95 29.8

15 Travancore Cements Ltd. White portland cement 23.9 26.93 0.77 0.75 16.75 18.77 -0.46 0.77 -2% 3% 6.1 4.75 106.21 103.8 316.72 278.17 47 48.51 3.95 2.89 32.2

1 Refnol Resins & Chemicals Ltd. Finishing agents 17.78 23.52 0.71 0.70 12.11 14.86 2.18 4.06 12% 17% 89.46 82.05 211.56 141.79 28.45 24.28 0.92 0.8 9.36 8.19 99.0

2 Pondy Oxides & Chemicals Ltd. Zinc oxide 95.38 135.47 0.82 0.83 6.26 7.53 7.23 13.53 8% 10% 52.02 46.28 18.33 14.73 12.55 12.79 4.82 4.15 8.04 5.73 105.2

3 D I C Coatings India Ltd. Industrial paints 38.65 41.95 0.73 0.72 6.52 5.53 5.24 6.24 14% 15% 84.86 83.22 44.71 46.87 31.74 30.08 4.63 2.44 14.52 14.13 106.3

4 Solar Industries India Ltd. Industrial explosives 127.55 171.01 0.73 0.73 2.18 2.79 20.51 37.83 16% 22% 69.86 52.8 39.61 29.23 35.35 39.77 0.41 0.2 7.45 10.4 109.6

5 Bhageria Dye-Chem Ltd. Sulphonated & nitrated derivatives of 58.58 66.09 0.77 0.84 8.97 10.41 2.97 3.92 5% 6% 61.78 88.32 45.42 50.89 12.54 15.16 7.39 5.8 8.66 5.94 112.2

6 Vinati Organics Ltd. Benzene 83.74 150.12 0.74 0.73 1.65 2.11 10.23 29.4 12% 20% 65.25 46.16 45.84 33.8 27.99 21.51 7.62 5.11 9.98 7.04 112.8

7 Shri Chlochem Ltd. Monochloroacetic acid 18.29 20.76 0.81 0.77 5.10 5.34 0.83 1.31 5% 6% 90.43 89.99 62.72 55.18 16.84 18.28 11.38 8.66 6.38 4.63 117.4

8 Gwalior Chemical Inds. Ltd. Para chloro toluene 206.62 295.36 0.62 0.64 0.93 1.03 40.01 54.48 19% 18% 77.2 80.53 23.14 33.48 33.88 35.02 8.75 7.58 5.33 4.49 118.8

9 Gulshan Polyols Ltd. Sorbitol 72.96 145.37 0.62 0.57 1.07 0.74 14.18 33.06 19% 23% 49.72 49.82 29.29 37.42 16.18 26.43 7.15 4.82 8.76 7.43 119.5

10 Transmetal Ltd. Other chlorides 57.23 61.43 0.65 0.67 1.29 1.08 10.5 11.37 18% 19% 53.89 61.45 53.47 55.02 16.29 14.31 9.91 10.58 5.76 4.54 120.9

11 Shree Hari Chemicals Export Ltd. H acid 67.79 80.21 0.76 0.84 5.18 5.85 10.17 10.33 15% 13% 50.02 60.98 50.3 46.08 13.89 17.23 4.2 3.75 9.66 12.73 122.1

12 Andhra Petrochemicals Ltd. Alcohols & their derivatives 268.47 287.55 0.66 0.73 2.18 2.45 78.29 70.53 29% 25% 19.06 27 9.55 6.93 31.85 28 3.6 6.01 7.36 6.58 125.3

13 Bhagiradha Chemicals & Inds. Ltd. Chlorpyriphos 83.18 83.98 0.69 0.77 2.03 2.06 18.09 11.18 22% 13% 73.32 73.76 41.68 47.66 18.35 34.95 6.62 6.01 1.3 3.4 126.4

14 Laffans Petrochemicals Ltd. Organic chemicals 141.78 171.59 0.90 0.89 7.28 6.33 7.27 8.7 5% 5% 67.77 65.6 28.24 39.51 10.86 24.76 4.83 11.65 1.14 0.65 133.3

15 Camex Ltd. Phenol derivatives 41.01 59.93 0.91 0.91 11.04 16.06 1.73 2.72 4% 5% 104.19 97.73 108.24 59.42 24.16 25.57 24.55 21.16 6.11 2.53 136.2

16 Bharat Rasayan Ltd. Pesticides 60.17 69.96 0.83 0.88 7.96 9.60 2.94 7.24 5% 10% 90.98 87.52 16.02 34.46 20.03 24.65 15.93 20.19 13.31 11.08 139.3

17 Keltech Energies Ltd. Explosives 59.63 83.78 0.69 0.75 4.31 5.80 1.45 1.63 2% 2% 54.42 49.11 59.05 83.28 35.56 34.21 1.79 2.7 3.08 3.26 139.4

cement

chemicAls

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers84

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 87: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 85

14 Skyline Millars Ltd. Construction machinery 17.79 22.07 0.47 0.44 4.19 4.40 2.71 6.59 15% 30% 61.96 43.35 243.52 169.79 48.56 63.94 24.02 17.34 4.62 11.19 36.0

15 Eimco Elecon (India) Ltd. Mining machinery 99.22 120.2 0.49 0.59 1.07 1.78 23.28 28.87 23% 24% 111.48 78.25 61.15 40.94 372.37 213.53 64.47 51.19 4.06 4.65 36.6

16 H M T Ltd. Tractors 323.28 234.08 0.58 0.84 5.11 5.13 132.12 21.89 41% 9% 257.01 353.56 196.43 178.83 51.87 53.76 21.28 20.57 11.2 25.73 37.6

17 Brady & Morris Engg. Co. Ltd. Other material handling equipment 13.99 20.77 0.69 0.75 1.84 1.97 1.85 2.65 13% 13% 55.85 60.73 100.39 105.9 73.63 73.73 106.12 140.21 0 0.77 39.1

18 Hamilton Industries Pvt. Ltd. Bicycles 41.02 25.06 0.82 0.68 15.51 8.45 -0.38 -1.76 -1% -7% NA 82.22 96.9 100.14 NA 95.22 NA 8.52 NA 28.37 39.5

19 Mcnally Sayaji Engg. Ltd. Construction machinery 52.06 60.3 0.72 0.76 2.58 2.45 11.96 11.16 23% 19% 33.5 24.73 94.01 84.59 47.79 38.16 51.59 61.19 8.12 8.02 39.6

20 Atul Auto Ltd. Three wheelers 123.91 82.09 0.89 0.81 3.41 1.68 8.94 7.33 7% 9% 21.81 23.93 24.3 30.39 33.65 68.8 16.06 37.18 3.04 5.84 40.4

21 Tractor Engineers Ltd. Crawler tractors 95.51 173.68 0.75 0.95 2.31 3.99 17.79 4.21 19% 2% 67.32 76.5 67.41 114.01 130.03 101.42 2.89 0.99 31.01 25.75 41.4

22 Kinetic Engineering Ltd. Mopeds 152.63 82.68 0.73 0.99 2.40 1.56 -21.77 2.39 -14% 3% 156.39 326.84 158.59 128.89 61.2 83.69 30.54 26.14 16.69 4.24 41.6

23 Scooters India Ltd. Three wheelers 170.29 138.76 0.91 0.82 8.15 6.00 -16.88 -16.55 -10% -12% 31.4 20.55 68.61 63.67 50.71 72.56 16.6 22.6 40.77 39.16 47.8

24 Man Force Trucks Pvt. Ltd. Commercial vehicles 22.07 124.01 1.75 1.24 0.26 0.82 -15.16 -61.08 -69% -49% NA 26.38 935.13 486.74 NA 283.81 NA 10.14 NA 20.06 55.8

25 L M L Ltd. Scooters 330.62 65.33 0.87 0.98 1.38 0.35 -103.19 -14.58 -31% -22% 11.53 43.78 168.12 1001.23 134.23 648.81 16.21 66.6 5.3 14.99 61.6

1 Anjani Portland Cement Ltd. Cement 67.26 100.25 0.54 0.47 0.80 0.86 19.46 31.97 29% 32% 24.14 21.44 49.11 51.31 73.48 94.76 38.62 30.18 0.07 0.06 12.8

2 Indorama Cement Ltd. [Merged] Portland slag cement 117.08 166.04 0.58 0.58 0.64 1.05 31.16 46.36 27% 28% 31.13 39.86 76.48 91.45 35.69 25.51 0.36 0.39 6.58 2.53 13.1

3 Deccan Cements Ltd. Cement 143.04 188.23 0.32 0.33 0.59 0.23 49.17 80.02 34% 43% 3.88 1.91 26.45 42.01 78.04 58.43 2.65 6.32 2.06 2.23 14.7

4 Panyam Cements & Mineral Inds. Ltd. Cement 94.51 154.27 0.54 0.42 1.37 1.51 18.72 52.35 20% 34% 19.64 19.45 388.13 297.87 93.04 116.78 7.21 10.98 0.3 0.49 16.6

5 Kakatiya Cement Sugar & Inds. Ltd. Cement 121.79 148.89 0.99 0.72 1.27 1.19 33.09 34.83 27% 23% 32.11 25.47 39.61 38.89 56.95 52.04 3.85 4.5 98.68 118.74 17.6

6 Sainik Finance & Inds. Ltd. Ordinary portland cement 11.48 12.68 0.52 0.63 1.15 1.15 3.61 3.06 31% 24% 196.58 175.51 196.09 136.08 40.06 68.15 15.46 19.64 0.58 6.55 19.6

7 Sagar Cements Ltd. Cement 198.4 223.62 0.62 0.59 1.58 0.44 43.31 56.9 22% 25% 12.84 9.07 30.99 59.03 114.91 118.85 2.96 1.68 0.4 0.34 20.1

8 Barak Valley Cements Ltd. Cement 72.68 69.24 0.45 0.52 0.74 0.74 24.62 21.46 34% 31% 15.01 18.73 23.07 39.47 82.55 127.74 9.89 22.73 1.69 1.51 20.6

9 Shiva Cement Ltd. Cement 22.69 24.81 0.71 0.63 0.30 0.24 5.14 8.5 23% 34% 39.03 29.4 73.88 53.82 112.19 123.14 4.65 10.67 5.62 5.74 22.9

10 N C L Industries Ltd. Cement 148.64 194.21 0.47 0.43 0.38 0.36 45.39 68.89 31% 35% 50.49 46.73 106.67 99.34 96.63 120.71 30.9 19.5 24.54 22.09 23.1

11 Meghalaya Cement Ltd. Cement 125.75 218.05 0.31 0.22 0.42 0.41 45.84 105.71 36% 48% NA 19.35 69.74 70.38 NA 203 NA 33.65 NA 2.76 25.4

12 Vinay Cements Ltd. Portland slag cement 48.46 40.07 0.48 0.50 1.20 1.07 11.09 6.73 23% 17% 133.57 191.42 151.89 198.59 114.59 163.26 26.79 28.64 9.73 8.5 27.0

13 Shree Digvijay Cement Co. Ltd. Cement 262.12 254.93 0.48 0.57 1.64 1.49 61.7 -6.65 24% -3% 16.55 16.69 62.99 57.81 109.88 169.29 12.76 14.67 4.8 6.81 28.5

14 Kalyanpur Cements Ltd. Cement 141.88 154.72 0.55 0.55 0.69 0.85 20.17 59.47 14% 38% 2.34 4.22 96.52 119.83 187.58 178.38 17.16 15.03 3.41 5.95 29.8

15 Travancore Cements Ltd. White portland cement 23.9 26.93 0.77 0.75 16.75 18.77 -0.46 0.77 -2% 3% 6.1 4.75 106.21 103.8 316.72 278.17 47 48.51 3.95 2.89 32.2

1 Refnol Resins & Chemicals Ltd. Finishing agents 17.78 23.52 0.71 0.70 12.11 14.86 2.18 4.06 12% 17% 89.46 82.05 211.56 141.79 28.45 24.28 0.92 0.8 9.36 8.19 99.0

2 Pondy Oxides & Chemicals Ltd. Zinc oxide 95.38 135.47 0.82 0.83 6.26 7.53 7.23 13.53 8% 10% 52.02 46.28 18.33 14.73 12.55 12.79 4.82 4.15 8.04 5.73 105.2

3 D I C Coatings India Ltd. Industrial paints 38.65 41.95 0.73 0.72 6.52 5.53 5.24 6.24 14% 15% 84.86 83.22 44.71 46.87 31.74 30.08 4.63 2.44 14.52 14.13 106.3

4 Solar Industries India Ltd. Industrial explosives 127.55 171.01 0.73 0.73 2.18 2.79 20.51 37.83 16% 22% 69.86 52.8 39.61 29.23 35.35 39.77 0.41 0.2 7.45 10.4 109.6

5 Bhageria Dye-Chem Ltd. Sulphonated & nitrated derivatives of 58.58 66.09 0.77 0.84 8.97 10.41 2.97 3.92 5% 6% 61.78 88.32 45.42 50.89 12.54 15.16 7.39 5.8 8.66 5.94 112.2

6 Vinati Organics Ltd. Benzene 83.74 150.12 0.74 0.73 1.65 2.11 10.23 29.4 12% 20% 65.25 46.16 45.84 33.8 27.99 21.51 7.62 5.11 9.98 7.04 112.8

7 Shri Chlochem Ltd. Monochloroacetic acid 18.29 20.76 0.81 0.77 5.10 5.34 0.83 1.31 5% 6% 90.43 89.99 62.72 55.18 16.84 18.28 11.38 8.66 6.38 4.63 117.4

8 Gwalior Chemical Inds. Ltd. Para chloro toluene 206.62 295.36 0.62 0.64 0.93 1.03 40.01 54.48 19% 18% 77.2 80.53 23.14 33.48 33.88 35.02 8.75 7.58 5.33 4.49 118.8

9 Gulshan Polyols Ltd. Sorbitol 72.96 145.37 0.62 0.57 1.07 0.74 14.18 33.06 19% 23% 49.72 49.82 29.29 37.42 16.18 26.43 7.15 4.82 8.76 7.43 119.5

10 Transmetal Ltd. Other chlorides 57.23 61.43 0.65 0.67 1.29 1.08 10.5 11.37 18% 19% 53.89 61.45 53.47 55.02 16.29 14.31 9.91 10.58 5.76 4.54 120.9

11 Shree Hari Chemicals Export Ltd. H acid 67.79 80.21 0.76 0.84 5.18 5.85 10.17 10.33 15% 13% 50.02 60.98 50.3 46.08 13.89 17.23 4.2 3.75 9.66 12.73 122.1

12 Andhra Petrochemicals Ltd. Alcohols & their derivatives 268.47 287.55 0.66 0.73 2.18 2.45 78.29 70.53 29% 25% 19.06 27 9.55 6.93 31.85 28 3.6 6.01 7.36 6.58 125.3

13 Bhagiradha Chemicals & Inds. Ltd. Chlorpyriphos 83.18 83.98 0.69 0.77 2.03 2.06 18.09 11.18 22% 13% 73.32 73.76 41.68 47.66 18.35 34.95 6.62 6.01 1.3 3.4 126.4

14 Laffans Petrochemicals Ltd. Organic chemicals 141.78 171.59 0.90 0.89 7.28 6.33 7.27 8.7 5% 5% 67.77 65.6 28.24 39.51 10.86 24.76 4.83 11.65 1.14 0.65 133.3

15 Camex Ltd. Phenol derivatives 41.01 59.93 0.91 0.91 11.04 16.06 1.73 2.72 4% 5% 104.19 97.73 108.24 59.42 24.16 25.57 24.55 21.16 6.11 2.53 136.2

16 Bharat Rasayan Ltd. Pesticides 60.17 69.96 0.83 0.88 7.96 9.60 2.94 7.24 5% 10% 90.98 87.52 16.02 34.46 20.03 24.65 15.93 20.19 13.31 11.08 139.3

17 Keltech Energies Ltd. Explosives 59.63 83.78 0.69 0.75 4.31 5.80 1.45 1.63 2% 2% 54.42 49.11 59.05 83.28 35.56 34.21 1.79 2.7 3.08 3.26 139.4

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 88: Reinventing the Supply Chain

18 Asahi Songwon Colors Ltd. Pigments 76.04 85.78 0.67 0.77 2.09 1.04 13.87 14.97 18% 17% 67.26 79.86 65.46 51.39 21.07 26.24 2.12 2.77 26.27 19.09 139.5

19 Cetex Petrochemicals Ltd. [Erstwhile] Organic chemicals 70.25 83.68 0.78 0.85 2.64 2.44 4.15 6.99 6% 8% 67.63 73.27 59.19 57.49 22.47 31.94 0.74 0.66 14.79 14.31 140.3

20 Indo Borax & Chemicals Ltd. Borax 24.48 38.16 0.61 0.59 3.95 6.18 7.52 11.98 31% 31% 22.8 19.5 35.2 23.4 79.8 71.4 4.26 2.99 10.95 9.2 141.0

21 Jayshree Chemicals Ltd. Sodium hydroxide (Caustic Soda) 50.6 51.37 0.65 0.69 3.42 3.63 6.01 6.48 12% 13% 38.58 41.08 72.62 77.57 81.92 57.81 1.3 1.44 4.43 4.32 142.0

22 Gulshan Sugars & Chemicals Ltd. [Merged] Calcium carbonates 43.4 53.49 0.55 0.53 0.62 0.54 10.33 12.91 24% 24% 102.28 96.96 14.34 31.34 112.47 77.57 6.99 5.56 18.06 8.37 142.6

23 Indo-Nippon Chemical Co. Ltd. Plasticisers 25.22 31.15 0.79 0.81 5.10 6.84 15.1 0.81 60% 3% NA 21.78 138.97 128.17 NA 9.74 NA 2.06 NA 5.04 143.8

24 M V S Engineering Ltd. Other dyes 32.91 27.32 0.68 0.53 7.95 11.67 4.44 7.87 13% 29% 47.56 70.01 45.21 86.11 40.84 70.03 1.81 7.31 5.06 5.62 144.4

25 Aksharchem (India) Ltd. Dyes 34.46 48.67 0.76 0.88 9.82 3.88 1.12 2.55 3% 5% 57.28 48.66 46.29 69.72 12.66 7.78 6.14 3.38 15.9 10.22 146.7

26 Arch Finechemicals Ltd. Dimehyl sulphate 29.14 45.23 0.73 0.79 1.06 1.42 3.9 5.51 13% 12% 89.49 86.29 78.35 44.32 78.47 76.74 6.87 3.8 16.77 4.63 147.1

27 Atotech India Ltd. Miscellaneous chemicals 61.29 67.81 0.55 0.52 3.11 1.05 11.3 10.75 18% 16% 87.2 90.46 92.54 78.86 73.83 64.96 0.39 0.25 17.98 15.89 147.1

28 Sree Rayalaseema Hi-Strength Hypo Ltd. Inorganic chemicals 115.47 112.51 0.55 0.62 1.35 1.27 13.32 13.51 12% 12% 36.31 34.66 66.45 71.43 26.82 38.13 1.06 1.96 6.78 6.11 147.2

29 Haryana Leather Chemicals Ltd. Leather auxilliaries 23.84 21.21 0.69 0.72 2.50 2.07 2.61 1.76 11% 8% 112.56 123.89 74.88 67.37 40 51.38 1.98 2.73 11.54 13.67 147.6

30 Punjab Alkalies & Chemicals Ltd. Sodium hydroxide (Caustic Soda) 203.11 201.11 0.79 0.78 0.94 0.97 28.35 31.28 14% 16% 46.28 46.67 42.42 50.66 77.4 77.23 0.53 0.58 1.76 1.76 147.8

31 Cabot Sanmar Ltd. Silicon dioxide 25.51 26.08 0.30 0.41 0.42 0.49 11.72 11.19 46% 43% 39.74 44.96 31.3 62.6 36.08 37.23 6.23 5.72 6.52 8.14 149.3

32 Jaysynth Dyestuff (India) Ltd. Dyes 13.62 77.58 0.96 0.94 9.73 21.23 0.65 4.92 5% 6% 231.04 59.52 265.36 88.78 31.8 17.75 0 0.22 58.77 20.5 149.7

33 Aditya Birla Chemicals (India) Ltd. Sodium hydroxide (Caustic Soda) 146.83 177.79 0.42 0.46 0.24 0.32 70.78 93.7 48% 53% 23.54 25.08 135.07 99.63 64.21 47.22 1.21 2.43 0.82 3.71 150.3

34 Economic Explosives Ltd. Detonating, safety & other fuses, igniters 36.78 47.11 0.45 0.51 0.85 1.06 9.99 19.09 27% 41% 91.85 72.43 66.04 48.69 34.21 32.38 2.23 3.95 29.2 31.75 150.6

35 Chromatic India Ltd. Dyes 15.9 15.98 0.89 1.02 4.69 5.19 1.54 0.78 10% 5% 79.63 84.96 47.39 60.17 25.18 27.66 28.74 24.33 0.3 0.18 152.9

36 Assam Petrochemicals Ltd. Methanol 61.84 64.08 0.56 0.55 2.24 2.51 16.47 16.03 27% 25% 13.72 10.42 90.46 54.63 170.36 174.76 0.42 0.65 9.33 5.42 153.9

37 Alkali Metals Ltd. Alkali & alkali-earth metals 60.11 61.72 0.71 0.74 1.43 1.43 11.95 12.18 20% 20% 58.94 53.88 17.5 30.77 48.5 35.67 49.08 78.6 0.91 0.53 154.4

38 Metrochem Industries Ltd. Dyes 240.95 249.5 0.75 0.75 2.71 2.26 26.31 30.67 11% 12% 94.75 120.75 51.19 46.75 36.7 35.53 26.08 22.09 7.31 12.69 156.1

39 Jocil Ltd. Fatty acids 85.77 115.36 0.71 0.74 1.29 1.63 15.48 17.79 18% 15% 58.44 51.18 31.55 20.27 37.55 26.87 10.44 8.13 21.49 19.8 157.0

40 Dai-Ichi Karkaria Ltd. Chemicals, nec 42.84 48.39 0.80 0.78 2.19 2.52 2.87 3.96 7% 8% 105.55 87.23 91.99 72.75 37.38 32.84 0.11 0.93 28.8 23 157.3

41 Bhagat Aromatics Ltd. Menthol 46.78 47.16 0.94 0.92 18.04 8.62 2.02 2.32 4% 5% 58.05 57.33 39.57 39.68 8.41 6.57 81.28 98.54 3.08 5.04 159.6

42 Bombay Paints Ltd. [Merged] Industrial paints 28.11 37.3 0.78 0.69 4.12 4.95 2.55 7.11 9% 19% 90.51 91.7 85.41 85.78 26.68 31.57 4.62 5.56 40.74 35.53 159.8

43 Auchtel Products Ltd. Miscellaneous inorganic chemicals 58.01 57.7 0.81 0.73 19.64 20.18 4.8 4.23 8% 7% 94.63 92.32 93.68 101.59 26.4 30.56 12.14 10.43 13.72 14.33 160.6

44 Shivalik Rasayan Ltd. Dimethoate 15.85 14.65 0.92 0.98 10.38 9.18 0.33 0.61 2% 4% 48.61 65.63 80.62 119.73 20.29 27.54 1.26 2.67 5.19 11.32 161.1

45 Biotech International Ltd. Pesticides 14.56 22.7 0.55 0.45 1.90 2.04 1.85 2.59 13% 11% NA 120.19 190.25 140.17 NA 54.03 NA 2.28 NA 19.19 162.0

46 Mysore Petro Chemicals Ltd. Phthalic Anhydride 81.57 86.82 0.79 0.76 1.10 1.24 19.91 63.85 24% 74% 21.82 22.56 114.4 74.01 34.63 37.33 4.78 4.67 6.3 6.25 163.8

47 Camlin Fine Chemicals Ltd. Chemicals 47.81 81.17 0.80 0.72 1.11 1.72 1.98 13.38 4% 16% 34.53 51.3 111.62 69.01 12.09 22.23 32.67 46.23 3.26 5.94 163.9

48 I V P Ltd. Miscellaneous chemicals 54.43 55.99 0.76 0.82 2.03 2.93 -3.87 4.89 -7% 9% 126.94 120.59 35.82 29.96 54.83 49.15 13.29 3.27 34.92 29.06 165.0

49 Poddar Pigments Ltd. Synthetic colouring substances 92.67 100.34 0.80 0.82 4.55 4.39 6.27 8.48 7% 8% 37.08 44.51 36.95 28.62 72.56 67.37 4.61 3.66 14.04 10.14 165.8

50 Daikaffil Chemicals India Ltd. Dyes 14.34 14.32 0.75 0.78 3.41 3.49 1.32 1.4 9% 10% 69.75 88.72 62.26 65.42 22.52 33.32 19.47 22.65 5.68 10.93 167.5

51 Grauer & Weil (India) Ltd. Chemicals, nec 139.4 173.04 0.63 0.64 1.26 1.25 22.61 28 16% 16% 61.13 58.24 69.5 64.29 38.21 36.97 13.39 10.65 13.71 11.48 169.0

52 Chemfab Alkalis Ltd. Sodium hydroxide (Caustic Soda) 103.67 101.51 0.48 0.52 0.68 0.68 33.69 29.4 32% 29% 30.8 33.05 58.6 55.71 154.48 118.28 1.6 1.53 7.02 8.86 169.6

53 Sunshield Chemicals Ltd. Phenols & their derivatives 33.46 41.66 0.79 0.87 1.19 1.39 0.87 3.94 3% 9% 67.06 61.92 58.23 43.29 46.65 37.28 10.54 6.56 7.67 9.45 169.6

54 Indo Amines Ltd. Amine function compounds 65.02 83.56 0.79 0.79 5.63 7.17 4.93 7.39 8% 9% 60.67 66.86 84.24 64.38 25.97 18.79 26.77 22.8 15.16 16 169.6

55 A P T Packaging Ltd. Ammonium nitrate 16.13 21.89 0.53 0.55 0.40 0.56 2.94 16.75 18% 77% 91.85 67.94 100.89 65.69 85.8 73.04 4.03 4.74 14.77 11.53 169.8

56 Plastiblends India Ltd. Other colouring substances 126.57 161.3 0.77 0.73 2.57 2.35 15.85 22.92 13% 14% 36.13 41.34 28.01 30.39 27.61 29.18 7.3 10.15 18.39 20.48 170.0

57 Tanfac Industries Ltd. Fluorides 124.27 166.4 0.75 0.75 2.37 3.00 13.18 21.63 11% 13% 45.26 39.76 24.32 70.43 94.88 89.38 4 2.93 7.12 4.91 171.0

58 Associated Pigments Ltd. Lead oxides 32.68 142.08 1.33 0.83 5.93 16.93 -1.4 9.08 -4% 6% 39.92 17.29 118.72 49.36 36.71 13.55 60.08 23.36 41.41 10.59 174.3

59 Akzo Nobel Chemicals (India) Ltd. Catalysts, reaction initiators 53.21 55.68 0.44 0.43 4.00 3.84 22.7 20.92 43% 38% 35.25 38.39 98.6 111.67 90.91 137.48 4.04 2.55 12.17 10.2 175.4

60 Indian Oxides & Chemicals Ltd. Antimony oxides 28.09 20.64 0.96 0.86 12.25 3.74 2.16 1.52 8% 7% 53.68 77.94 41.87 46.78 18.06 23.64 7.67 7.55 21.61 34.91 177.2

61 Balaji Amines Ltd. Ethyl amines 169.82 212.72 0.83 0.66 2.22 1.72 25.18 30.24 15% 14% 64.03 75.73 42.43 60.79 36.97 43.72 12.56 12.34 20.54 18.33 177.8

62 Kilburn Chemicals Ltd. Titanium dioxide 74.57 87.73 0.60 0.68 0.85 1.06 14.06 10.41 19% 12% 39.19 32.29 44.2 37.45 37.78 36.19 20.2 22.51 9.28 7.82 178.1

63 Lime Chemicals Ltd. Calcium carbonates 47.68 47.46 0.91 0.96 2.25 2.35 -1.03 -14.8 -2% -31% 81.69 73.32 69.57 88.1 68.66 45.27 1.96 1.74 16.2 11.45 178.9

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers86

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 89: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 87

18 Asahi Songwon Colors Ltd. Pigments 76.04 85.78 0.67 0.77 2.09 1.04 13.87 14.97 18% 17% 67.26 79.86 65.46 51.39 21.07 26.24 2.12 2.77 26.27 19.09 139.5

19 Cetex Petrochemicals Ltd. [Erstwhile] Organic chemicals 70.25 83.68 0.78 0.85 2.64 2.44 4.15 6.99 6% 8% 67.63 73.27 59.19 57.49 22.47 31.94 0.74 0.66 14.79 14.31 140.3

20 Indo Borax & Chemicals Ltd. Borax 24.48 38.16 0.61 0.59 3.95 6.18 7.52 11.98 31% 31% 22.8 19.5 35.2 23.4 79.8 71.4 4.26 2.99 10.95 9.2 141.0

21 Jayshree Chemicals Ltd. Sodium hydroxide (Caustic Soda) 50.6 51.37 0.65 0.69 3.42 3.63 6.01 6.48 12% 13% 38.58 41.08 72.62 77.57 81.92 57.81 1.3 1.44 4.43 4.32 142.0

22 Gulshan Sugars & Chemicals Ltd. [Merged] Calcium carbonates 43.4 53.49 0.55 0.53 0.62 0.54 10.33 12.91 24% 24% 102.28 96.96 14.34 31.34 112.47 77.57 6.99 5.56 18.06 8.37 142.6

23 Indo-Nippon Chemical Co. Ltd. Plasticisers 25.22 31.15 0.79 0.81 5.10 6.84 15.1 0.81 60% 3% NA 21.78 138.97 128.17 NA 9.74 NA 2.06 NA 5.04 143.8

24 M V S Engineering Ltd. Other dyes 32.91 27.32 0.68 0.53 7.95 11.67 4.44 7.87 13% 29% 47.56 70.01 45.21 86.11 40.84 70.03 1.81 7.31 5.06 5.62 144.4

25 Aksharchem (India) Ltd. Dyes 34.46 48.67 0.76 0.88 9.82 3.88 1.12 2.55 3% 5% 57.28 48.66 46.29 69.72 12.66 7.78 6.14 3.38 15.9 10.22 146.7

26 Arch Finechemicals Ltd. Dimehyl sulphate 29.14 45.23 0.73 0.79 1.06 1.42 3.9 5.51 13% 12% 89.49 86.29 78.35 44.32 78.47 76.74 6.87 3.8 16.77 4.63 147.1

27 Atotech India Ltd. Miscellaneous chemicals 61.29 67.81 0.55 0.52 3.11 1.05 11.3 10.75 18% 16% 87.2 90.46 92.54 78.86 73.83 64.96 0.39 0.25 17.98 15.89 147.1

28 Sree Rayalaseema Hi-Strength Hypo Ltd. Inorganic chemicals 115.47 112.51 0.55 0.62 1.35 1.27 13.32 13.51 12% 12% 36.31 34.66 66.45 71.43 26.82 38.13 1.06 1.96 6.78 6.11 147.2

29 Haryana Leather Chemicals Ltd. Leather auxilliaries 23.84 21.21 0.69 0.72 2.50 2.07 2.61 1.76 11% 8% 112.56 123.89 74.88 67.37 40 51.38 1.98 2.73 11.54 13.67 147.6

30 Punjab Alkalies & Chemicals Ltd. Sodium hydroxide (Caustic Soda) 203.11 201.11 0.79 0.78 0.94 0.97 28.35 31.28 14% 16% 46.28 46.67 42.42 50.66 77.4 77.23 0.53 0.58 1.76 1.76 147.8

31 Cabot Sanmar Ltd. Silicon dioxide 25.51 26.08 0.30 0.41 0.42 0.49 11.72 11.19 46% 43% 39.74 44.96 31.3 62.6 36.08 37.23 6.23 5.72 6.52 8.14 149.3

32 Jaysynth Dyestuff (India) Ltd. Dyes 13.62 77.58 0.96 0.94 9.73 21.23 0.65 4.92 5% 6% 231.04 59.52 265.36 88.78 31.8 17.75 0 0.22 58.77 20.5 149.7

33 Aditya Birla Chemicals (India) Ltd. Sodium hydroxide (Caustic Soda) 146.83 177.79 0.42 0.46 0.24 0.32 70.78 93.7 48% 53% 23.54 25.08 135.07 99.63 64.21 47.22 1.21 2.43 0.82 3.71 150.3

34 Economic Explosives Ltd. Detonating, safety & other fuses, igniters 36.78 47.11 0.45 0.51 0.85 1.06 9.99 19.09 27% 41% 91.85 72.43 66.04 48.69 34.21 32.38 2.23 3.95 29.2 31.75 150.6

35 Chromatic India Ltd. Dyes 15.9 15.98 0.89 1.02 4.69 5.19 1.54 0.78 10% 5% 79.63 84.96 47.39 60.17 25.18 27.66 28.74 24.33 0.3 0.18 152.9

36 Assam Petrochemicals Ltd. Methanol 61.84 64.08 0.56 0.55 2.24 2.51 16.47 16.03 27% 25% 13.72 10.42 90.46 54.63 170.36 174.76 0.42 0.65 9.33 5.42 153.9

37 Alkali Metals Ltd. Alkali & alkali-earth metals 60.11 61.72 0.71 0.74 1.43 1.43 11.95 12.18 20% 20% 58.94 53.88 17.5 30.77 48.5 35.67 49.08 78.6 0.91 0.53 154.4

38 Metrochem Industries Ltd. Dyes 240.95 249.5 0.75 0.75 2.71 2.26 26.31 30.67 11% 12% 94.75 120.75 51.19 46.75 36.7 35.53 26.08 22.09 7.31 12.69 156.1

39 Jocil Ltd. Fatty acids 85.77 115.36 0.71 0.74 1.29 1.63 15.48 17.79 18% 15% 58.44 51.18 31.55 20.27 37.55 26.87 10.44 8.13 21.49 19.8 157.0

40 Dai-Ichi Karkaria Ltd. Chemicals, nec 42.84 48.39 0.80 0.78 2.19 2.52 2.87 3.96 7% 8% 105.55 87.23 91.99 72.75 37.38 32.84 0.11 0.93 28.8 23 157.3

41 Bhagat Aromatics Ltd. Menthol 46.78 47.16 0.94 0.92 18.04 8.62 2.02 2.32 4% 5% 58.05 57.33 39.57 39.68 8.41 6.57 81.28 98.54 3.08 5.04 159.6

42 Bombay Paints Ltd. [Merged] Industrial paints 28.11 37.3 0.78 0.69 4.12 4.95 2.55 7.11 9% 19% 90.51 91.7 85.41 85.78 26.68 31.57 4.62 5.56 40.74 35.53 159.8

43 Auchtel Products Ltd. Miscellaneous inorganic chemicals 58.01 57.7 0.81 0.73 19.64 20.18 4.8 4.23 8% 7% 94.63 92.32 93.68 101.59 26.4 30.56 12.14 10.43 13.72 14.33 160.6

44 Shivalik Rasayan Ltd. Dimethoate 15.85 14.65 0.92 0.98 10.38 9.18 0.33 0.61 2% 4% 48.61 65.63 80.62 119.73 20.29 27.54 1.26 2.67 5.19 11.32 161.1

45 Biotech International Ltd. Pesticides 14.56 22.7 0.55 0.45 1.90 2.04 1.85 2.59 13% 11% NA 120.19 190.25 140.17 NA 54.03 NA 2.28 NA 19.19 162.0

46 Mysore Petro Chemicals Ltd. Phthalic Anhydride 81.57 86.82 0.79 0.76 1.10 1.24 19.91 63.85 24% 74% 21.82 22.56 114.4 74.01 34.63 37.33 4.78 4.67 6.3 6.25 163.8

47 Camlin Fine Chemicals Ltd. Chemicals 47.81 81.17 0.80 0.72 1.11 1.72 1.98 13.38 4% 16% 34.53 51.3 111.62 69.01 12.09 22.23 32.67 46.23 3.26 5.94 163.9

48 I V P Ltd. Miscellaneous chemicals 54.43 55.99 0.76 0.82 2.03 2.93 -3.87 4.89 -7% 9% 126.94 120.59 35.82 29.96 54.83 49.15 13.29 3.27 34.92 29.06 165.0

49 Poddar Pigments Ltd. Synthetic colouring substances 92.67 100.34 0.80 0.82 4.55 4.39 6.27 8.48 7% 8% 37.08 44.51 36.95 28.62 72.56 67.37 4.61 3.66 14.04 10.14 165.8

50 Daikaffil Chemicals India Ltd. Dyes 14.34 14.32 0.75 0.78 3.41 3.49 1.32 1.4 9% 10% 69.75 88.72 62.26 65.42 22.52 33.32 19.47 22.65 5.68 10.93 167.5

51 Grauer & Weil (India) Ltd. Chemicals, nec 139.4 173.04 0.63 0.64 1.26 1.25 22.61 28 16% 16% 61.13 58.24 69.5 64.29 38.21 36.97 13.39 10.65 13.71 11.48 169.0

52 Chemfab Alkalis Ltd. Sodium hydroxide (Caustic Soda) 103.67 101.51 0.48 0.52 0.68 0.68 33.69 29.4 32% 29% 30.8 33.05 58.6 55.71 154.48 118.28 1.6 1.53 7.02 8.86 169.6

53 Sunshield Chemicals Ltd. Phenols & their derivatives 33.46 41.66 0.79 0.87 1.19 1.39 0.87 3.94 3% 9% 67.06 61.92 58.23 43.29 46.65 37.28 10.54 6.56 7.67 9.45 169.6

54 Indo Amines Ltd. Amine function compounds 65.02 83.56 0.79 0.79 5.63 7.17 4.93 7.39 8% 9% 60.67 66.86 84.24 64.38 25.97 18.79 26.77 22.8 15.16 16 169.6

55 A P T Packaging Ltd. Ammonium nitrate 16.13 21.89 0.53 0.55 0.40 0.56 2.94 16.75 18% 77% 91.85 67.94 100.89 65.69 85.8 73.04 4.03 4.74 14.77 11.53 169.8

56 Plastiblends India Ltd. Other colouring substances 126.57 161.3 0.77 0.73 2.57 2.35 15.85 22.92 13% 14% 36.13 41.34 28.01 30.39 27.61 29.18 7.3 10.15 18.39 20.48 170.0

57 Tanfac Industries Ltd. Fluorides 124.27 166.4 0.75 0.75 2.37 3.00 13.18 21.63 11% 13% 45.26 39.76 24.32 70.43 94.88 89.38 4 2.93 7.12 4.91 171.0

58 Associated Pigments Ltd. Lead oxides 32.68 142.08 1.33 0.83 5.93 16.93 -1.4 9.08 -4% 6% 39.92 17.29 118.72 49.36 36.71 13.55 60.08 23.36 41.41 10.59 174.3

59 Akzo Nobel Chemicals (India) Ltd. Catalysts, reaction initiators 53.21 55.68 0.44 0.43 4.00 3.84 22.7 20.92 43% 38% 35.25 38.39 98.6 111.67 90.91 137.48 4.04 2.55 12.17 10.2 175.4

60 Indian Oxides & Chemicals Ltd. Antimony oxides 28.09 20.64 0.96 0.86 12.25 3.74 2.16 1.52 8% 7% 53.68 77.94 41.87 46.78 18.06 23.64 7.67 7.55 21.61 34.91 177.2

61 Balaji Amines Ltd. Ethyl amines 169.82 212.72 0.83 0.66 2.22 1.72 25.18 30.24 15% 14% 64.03 75.73 42.43 60.79 36.97 43.72 12.56 12.34 20.54 18.33 177.8

62 Kilburn Chemicals Ltd. Titanium dioxide 74.57 87.73 0.60 0.68 0.85 1.06 14.06 10.41 19% 12% 39.19 32.29 44.2 37.45 37.78 36.19 20.2 22.51 9.28 7.82 178.1

63 Lime Chemicals Ltd. Calcium carbonates 47.68 47.46 0.91 0.96 2.25 2.35 -1.03 -14.8 -2% -31% 81.69 73.32 69.57 88.1 68.66 45.27 1.96 1.74 16.2 11.45 178.9

ch

em

icA

ls

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

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64 Vidhi Dyestuffs Manufacturing Ltd. Dyes 31.25 31.52 0.75 0.74 5.17 5.26 3.11 2.86 10% 9% 109.38 137.95 27.53 42.66 37.44 59.01 27.28 29.53 14.68 14.81 178.9

65 Cheminova India Ltd. Pesticides 260.36 269.68 0.65 0.67 4.40 4.52 19.26 19.13 7% 7% 129.15 135.29 96.42 107.57 59.84 42.34 5.34 5.02 38.86 30.09 180.1

66 Dynemic Products Ltd. Dyes 33.93 37.34 0.65 0.76 1.95 1.23 4.44 4.06 13% 11% 81.8 66.18 26.31 22.68 26.39 32.3 26.72 24.85 18.29 15.61 180.5

67 Asian Paints Industrial Coatings Ltd. Industrial paints 48.71 62.41 0.83 0.69 3.29 2.73 3.29 6.2 7% 10% 68.36 69.84 67.66 69.41 62.1 54.9 1.75 1.54 34.58 35.51 181.5

68 Anil Products Ltd. Starches modified, adhesives, etc. 201.86 225.65 0.79 0.87 1.92 2.11 18.01 25.38 9% 11% 53.77 70.43 83.22 63.65 61.63 40.37 3.45 3.03 21.43 22.54 182.2

69 Link Pharma Chem Ltd. Inorganic chemicals 13.76 11.1 0.72 0.74 1.03 0.75 1.83 1.71 13% 15% 40.45 69.67 45.8 47.42 15.38 21.19 6.71 10.97 31.74 38.76 182.3

70 Ritesh International Ltd. Stearic acid 8.7 11.45 0.90 0.73 0.81 0.89 0.03 0.7 0% 6% 234.34 139.22 159.07 117.6 11.85 15.27 6.77 5.78 44.25 31.82 182.4

71 Polson Ltd. Tanning extracts of vegetable origin 49.22 50.54 0.74 0.74 4.20 3.39 3.97 4.45 8% 9% 46.91 53.46 69.73 71.44 35.51 49.45 0.91 3.97 22.38 17.96 182.8

72 Ultramarine & Pigments Ltd. Ultramarine 78.29 88.07 0.46 0.59 1.71 2.30 26.92 23.55 34% 27% 41.53 50.67 31.66 38.54 45.64 41.33 23.04 26.69 22.86 21.2 185.0

73 Lona Industries Ltd. Dyes 94.62 133.63 0.83 0.77 6.51 7.58 4.72 10.03 5% 8% 42.05 34.27 104.2 72.24 44.96 44.45 34.93 23.17 3.58 2.39 185.8

74 Dynamic Industries Ltd. Dyes 51.18 43.33 0.91 0.83 8.09 6.79 2.51 2.19 5% 5% 109.97 122.93 66.29 85.8 18.62 17.97 4.16 7.39 38.85 54.77 186.0

75 Krishna Industrial Corpn. Ltd. Superphosphates 31.99 38.58 0.77 0.76 1.93 2.18 2.55 2.96 8% 8% 62.37 46.81 109.19 136.28 41.27 61.41 2.34 2.49 8.45 8.57 186.6

76 Basant Agro Tech (India) Ltd. NPK mixed fertilisers 92.64 109.79 0.77 0.84 3.23 3.42 7.28 9.94 8% 9% 62.19 53.3 41.76 47.88 54 68.25 0.28 0.27 23.07 28.42 186.9

77 Albright & Wilson Chemicals India Ltd. Sodium tripolyphosphate 142.27 134.32 0.88 0.87 8.00 4.06 5.07 -0.06 4% 0% 33.66 40.39 36.03 70.11 27.01 35.63 2.03 2.74 15.06 14.41 187.2

78 Tantech Agro Chemicals Ltd. Insecticides 5.11 16.53 0.69 0.82 0.34 1.28 1.04 1.76 20% 11% 25.17 10.59 301.96 87.09 182.5 50.9 0 4.73 0 1.97 187.7

79 Indo Colchem Ltd. Dyes 48.43 64.54 0.79 0.92 3.75 6.03 3.52 4.1 7% 6% 81.16 65.41 85.63 55.29 74.71 53.7 42.46 40.37 0.76 1.03 188.2

80 Premier Explosives Ltd. Industrial explosives 67.94 58.57 0.57 0.60 1.14 1.62 9.18 11.88 14% 20% 61.95 92 166.83 78.87 68.39 68.1 25.42 24.08 21.31 13.91 188.9

81 Cepham Milk Specialities Ltd. Casein 39.85 104.74 1.11 0.88 1.93 4.45 -6.91 1.35 -17% 1% 65.62 25.68 188.47 61.39 9.84 5.35 21.51 10.08 31.55 18.42 189.4

82 Excel Industries Ltd. Pesticides 203.59 228.29 0.66 0.67 1.29 1.38 20.55 25.92 10% 11% 102.03 94.78 80.6 78.88 67.71 43.97 15.44 12.77 22.31 19.72 189.7

83 Rajasthan Explosives & Chemicals Ltd. Industrial explosives 36.86 45.6 0.74 0.73 3.13 3.75 2.66 3.75 7% 8% 66.54 73.34 95.35 71.21 62.1 49.4 4.96 5.12 30.31 28.2 189.9

84 Transpek Industry Ltd. Salts of inorganic acids & metals 83.07 108.89 0.54 0.71 0.77 1.27 14.75 10.4 18% 10% 90.18 64.5 71.41 73.42 55.45 45.59 11.58 9.19 15.42 13.93 192.5

85 Trichy Distilleries & Chemicals Ltd. Organic chemicals 42.69 40.79 0.56 0.43 4.10 1.41 6.14 11.62 14% 28% 53.58 52.45 44.89 58.78 76.65 147.34 3.9 4.03 17.63 21.87 192.6

86 Elantas Beck India Ltd. Wire enamel 146.4 173.54 0.73 0.68 5.03 4.34 26.97 33.4 18% 19% 49.42 45.32 41.61 41.95 65.26 71.53 7.8 7.35 24.91 28.03 194.0

87 Asian Peroxide Ltd. Hydrogen peroxide 67.09 61.16 0.50 0.54 0.35 0.39 14.34 11.05 21% 18% 41.68 41.24 37.92 54.92 114.17 154.21 0 6.39 5.51 8 195.2

88 Jenson & Nicholson (India) Ltd. Industrial paints 25.2 30.45 0.81 0.85 0.41 0.56 -4.36 -8.24 -17% -27% 191.59 161.3 643.82 496.34 32.39 25.87 0.71 0.78 40.8 38.39 195.3

89 Kiri Dyes & Chemicals Ltd. Dyes 134.03 227.74 0.88 0.86 3.21 3.57 15.45 34.83 12% 15% 81.56 65.54 38.94 69.16 28.11 31.89 17.23 12.22 30.74 31.23 200.7

90 Lords Chloro Alkali Ltd. Sodium hydroxide (Caustic Soda) 60.5 77.1 0.86 0.77 1.31 1.04 236.11 8.5 390% 11% 31.16 28.61 93.01 80.97 137.35 117.37 1.54 1.9 8.52 7.37 201.7

91 Sicpa India Ltd. Printing ink 227.23 280.69 0.82 0.81 10.00 13.12 40.42 61.8 18% 22% 17.06 7.18 51.57 67.29 120.82 112.76 2.18 0.83 12.37 25.33 203.5

92 Merchem Ltd. Rubber chemicals 74.87 83.39 0.75 0.75 2.34 1.23 9.74 15.05 13% 18% 66.53 70.3 52.56 56.31 39.97 55.12 7.43 17.18 14.88 20.32 203.7

93 Amines & Plasticizers Ltd. Plasticisers 91.84 106.29 0.79 0.79 10.64 10.96 6.3 8.13 7% 8% 40.98 54.21 77.33 62.46 20.73 52.69 7.14 6.5 38.81 30.25 205.9

94 Camphor & Allied Products Ltd. Camphor 115.14 105.54 0.85 0.93 3.19 2.92 4.34 3.75 4% 4% 39.71 42.2 19.78 19.06 39.29 37.79 26.02 20.66 12.34 16.8 208.3

95 Brahmaputra Valley Fertilizer Corpn. Ltd. Urea 252.56 221.9 0.61 0.72 0.26 0.29 38.14 5.52 15% 2% 46.05 70.8 108.81 107.72 226.69 201.77 0.31 0.79 14.72 11.82 210.5

96 Kolmak Chemicals Ltd. Titanium dioxide 17.82 15.93 0.96 0.61 1.86 1.18 0.64 -1.58 4% -10% 41.48 42.16 53.74 36.19 33.59 32.24 35.15 25.28 30.2 23.47 213.3

97 Ghaziabad Organics Ltd. Acetic acid 18.48 29.49 0.85 0.71 0.60 0.80 2.55 4.21 14% 14% 36.69 34.1 98.3 49.93 42.35 57.05 33.2 37.05 18.75 10.09 214.0

98 Astec Lifesciences Ltd. Chemicals 31.48 55.17 0.75 0.75 1.08 1.25 6.41 14.74 20% 27% 88.22 87.91 133.45 134.84 43.37 27.39 96.49 92.2 49.39 28.34 214.1

99 Nicomet Industries Ltd. Cobalt hydroxide 103.39 205.17 0.91 0.80 2.80 4.17 12.25 27.84 12% 14% 63.4 47.4 122.51 112.45 28.28 29.07 43.32 51.76 33.5 18.37 217.3

100 Organic Coatings Ltd. Printing ink 32.23 36.82 0.86 0.79 3.22 2.82 1.13 2.8 4% 8% 127.94 121.94 73.63 95.48 70.11 58.57 11.28 12.89 18.45 24.04 218.0

101 Borax Morarji Ltd. Borax 61.25 81.08 0.68 0.69 2.93 2.70 7.61 10.65 12% 13% 56.78 48.03 117.08 88.27 156.8 113.69 11.73 8.7 29.72 16.31 221.1

102 Indian Toners & Developers Ltd. Duplicating ink 42.73 39.25 0.54 0.55 1.41 1.44 9.27 5.89 22% 15% 56.03 72.8 87.64 95.18 83.65 113.99 11.45 13.34 17.75 19.61 222.2

103 Crystal Phosphates Ltd. Pesticides 184.27 217.13 0.85 0.81 22.68 25.20 9.38 13.55 5% 6% 43.81 48.38 94.44 115.46 22.11 21.62 6.28 13.32 58.79 56.7 222.7

104 Sabero Organics Gujarat Ltd. Organophosphorous insecticides 155.6 198.24 0.85 0.74 2.20 2.48 17.04 25.04 11% 13% 45.29 42.62 90.4 105 42.88 31.56 11.4 11.51 48.77 43.81 225.0

105 Meghmani Industries Ltd. Pesticides 102.41 108.3 0.73 0.74 5.43 3.93 14.06 15.58 14% 14% 136.2 128.81 49.51 67.62 77.04 102.75 52.61 43.29 19.7 26.85 225.2

106 Navin Fluorine Intl. Ltd. Fluro carbon 265.75 294.78 0.67 0.65 1.03 1.05 43.6 35.89 16% 12% 61.9 69.52 144.29 178.29 71.41 70.55 4.32 4.12 34.78 33.75 226.6

107 Narmada Gelatines Ltd. Gelatin 53.37 56.92 0.75 0.81 2.74 2.34 5.48 8.31 10% 15% 49.76 51.03 39.9 48.6 59.87 48.21 44.62 43.6 20.25 24.39 227.3

108 Shiva Fertilizers Ltd. Single superphosphate 48.92 63.36 0.78 0.86 8.13 10.22 1.69 2.53 3% 4% 35.72 24.26 51.23 14.55 50.03 101.7 3.23 3.37 54.29 41.9 227.4

109 Lords Chemicals Ltd. Chromates of sodium, potassium, zinc & lead 34.53 21.98 0.78 0.76 4.75 3.24 2.11 2.55 6% 12% NA 16.95 75.3 202.98 NA 113.62 NA 21.73 NA 1.31 227.9

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers88

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 91: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 89

64 Vidhi Dyestuffs Manufacturing Ltd. Dyes 31.25 31.52 0.75 0.74 5.17 5.26 3.11 2.86 10% 9% 109.38 137.95 27.53 42.66 37.44 59.01 27.28 29.53 14.68 14.81 178.9

65 Cheminova India Ltd. Pesticides 260.36 269.68 0.65 0.67 4.40 4.52 19.26 19.13 7% 7% 129.15 135.29 96.42 107.57 59.84 42.34 5.34 5.02 38.86 30.09 180.1

66 Dynemic Products Ltd. Dyes 33.93 37.34 0.65 0.76 1.95 1.23 4.44 4.06 13% 11% 81.8 66.18 26.31 22.68 26.39 32.3 26.72 24.85 18.29 15.61 180.5

67 Asian Paints Industrial Coatings Ltd. Industrial paints 48.71 62.41 0.83 0.69 3.29 2.73 3.29 6.2 7% 10% 68.36 69.84 67.66 69.41 62.1 54.9 1.75 1.54 34.58 35.51 181.5

68 Anil Products Ltd. Starches modified, adhesives, etc. 201.86 225.65 0.79 0.87 1.92 2.11 18.01 25.38 9% 11% 53.77 70.43 83.22 63.65 61.63 40.37 3.45 3.03 21.43 22.54 182.2

69 Link Pharma Chem Ltd. Inorganic chemicals 13.76 11.1 0.72 0.74 1.03 0.75 1.83 1.71 13% 15% 40.45 69.67 45.8 47.42 15.38 21.19 6.71 10.97 31.74 38.76 182.3

70 Ritesh International Ltd. Stearic acid 8.7 11.45 0.90 0.73 0.81 0.89 0.03 0.7 0% 6% 234.34 139.22 159.07 117.6 11.85 15.27 6.77 5.78 44.25 31.82 182.4

71 Polson Ltd. Tanning extracts of vegetable origin 49.22 50.54 0.74 0.74 4.20 3.39 3.97 4.45 8% 9% 46.91 53.46 69.73 71.44 35.51 49.45 0.91 3.97 22.38 17.96 182.8

72 Ultramarine & Pigments Ltd. Ultramarine 78.29 88.07 0.46 0.59 1.71 2.30 26.92 23.55 34% 27% 41.53 50.67 31.66 38.54 45.64 41.33 23.04 26.69 22.86 21.2 185.0

73 Lona Industries Ltd. Dyes 94.62 133.63 0.83 0.77 6.51 7.58 4.72 10.03 5% 8% 42.05 34.27 104.2 72.24 44.96 44.45 34.93 23.17 3.58 2.39 185.8

74 Dynamic Industries Ltd. Dyes 51.18 43.33 0.91 0.83 8.09 6.79 2.51 2.19 5% 5% 109.97 122.93 66.29 85.8 18.62 17.97 4.16 7.39 38.85 54.77 186.0

75 Krishna Industrial Corpn. Ltd. Superphosphates 31.99 38.58 0.77 0.76 1.93 2.18 2.55 2.96 8% 8% 62.37 46.81 109.19 136.28 41.27 61.41 2.34 2.49 8.45 8.57 186.6

76 Basant Agro Tech (India) Ltd. NPK mixed fertilisers 92.64 109.79 0.77 0.84 3.23 3.42 7.28 9.94 8% 9% 62.19 53.3 41.76 47.88 54 68.25 0.28 0.27 23.07 28.42 186.9

77 Albright & Wilson Chemicals India Ltd. Sodium tripolyphosphate 142.27 134.32 0.88 0.87 8.00 4.06 5.07 -0.06 4% 0% 33.66 40.39 36.03 70.11 27.01 35.63 2.03 2.74 15.06 14.41 187.2

78 Tantech Agro Chemicals Ltd. Insecticides 5.11 16.53 0.69 0.82 0.34 1.28 1.04 1.76 20% 11% 25.17 10.59 301.96 87.09 182.5 50.9 0 4.73 0 1.97 187.7

79 Indo Colchem Ltd. Dyes 48.43 64.54 0.79 0.92 3.75 6.03 3.52 4.1 7% 6% 81.16 65.41 85.63 55.29 74.71 53.7 42.46 40.37 0.76 1.03 188.2

80 Premier Explosives Ltd. Industrial explosives 67.94 58.57 0.57 0.60 1.14 1.62 9.18 11.88 14% 20% 61.95 92 166.83 78.87 68.39 68.1 25.42 24.08 21.31 13.91 188.9

81 Cepham Milk Specialities Ltd. Casein 39.85 104.74 1.11 0.88 1.93 4.45 -6.91 1.35 -17% 1% 65.62 25.68 188.47 61.39 9.84 5.35 21.51 10.08 31.55 18.42 189.4

82 Excel Industries Ltd. Pesticides 203.59 228.29 0.66 0.67 1.29 1.38 20.55 25.92 10% 11% 102.03 94.78 80.6 78.88 67.71 43.97 15.44 12.77 22.31 19.72 189.7

83 Rajasthan Explosives & Chemicals Ltd. Industrial explosives 36.86 45.6 0.74 0.73 3.13 3.75 2.66 3.75 7% 8% 66.54 73.34 95.35 71.21 62.1 49.4 4.96 5.12 30.31 28.2 189.9

84 Transpek Industry Ltd. Salts of inorganic acids & metals 83.07 108.89 0.54 0.71 0.77 1.27 14.75 10.4 18% 10% 90.18 64.5 71.41 73.42 55.45 45.59 11.58 9.19 15.42 13.93 192.5

85 Trichy Distilleries & Chemicals Ltd. Organic chemicals 42.69 40.79 0.56 0.43 4.10 1.41 6.14 11.62 14% 28% 53.58 52.45 44.89 58.78 76.65 147.34 3.9 4.03 17.63 21.87 192.6

86 Elantas Beck India Ltd. Wire enamel 146.4 173.54 0.73 0.68 5.03 4.34 26.97 33.4 18% 19% 49.42 45.32 41.61 41.95 65.26 71.53 7.8 7.35 24.91 28.03 194.0

87 Asian Peroxide Ltd. Hydrogen peroxide 67.09 61.16 0.50 0.54 0.35 0.39 14.34 11.05 21% 18% 41.68 41.24 37.92 54.92 114.17 154.21 0 6.39 5.51 8 195.2

88 Jenson & Nicholson (India) Ltd. Industrial paints 25.2 30.45 0.81 0.85 0.41 0.56 -4.36 -8.24 -17% -27% 191.59 161.3 643.82 496.34 32.39 25.87 0.71 0.78 40.8 38.39 195.3

89 Kiri Dyes & Chemicals Ltd. Dyes 134.03 227.74 0.88 0.86 3.21 3.57 15.45 34.83 12% 15% 81.56 65.54 38.94 69.16 28.11 31.89 17.23 12.22 30.74 31.23 200.7

90 Lords Chloro Alkali Ltd. Sodium hydroxide (Caustic Soda) 60.5 77.1 0.86 0.77 1.31 1.04 236.11 8.5 390% 11% 31.16 28.61 93.01 80.97 137.35 117.37 1.54 1.9 8.52 7.37 201.7

91 Sicpa India Ltd. Printing ink 227.23 280.69 0.82 0.81 10.00 13.12 40.42 61.8 18% 22% 17.06 7.18 51.57 67.29 120.82 112.76 2.18 0.83 12.37 25.33 203.5

92 Merchem Ltd. Rubber chemicals 74.87 83.39 0.75 0.75 2.34 1.23 9.74 15.05 13% 18% 66.53 70.3 52.56 56.31 39.97 55.12 7.43 17.18 14.88 20.32 203.7

93 Amines & Plasticizers Ltd. Plasticisers 91.84 106.29 0.79 0.79 10.64 10.96 6.3 8.13 7% 8% 40.98 54.21 77.33 62.46 20.73 52.69 7.14 6.5 38.81 30.25 205.9

94 Camphor & Allied Products Ltd. Camphor 115.14 105.54 0.85 0.93 3.19 2.92 4.34 3.75 4% 4% 39.71 42.2 19.78 19.06 39.29 37.79 26.02 20.66 12.34 16.8 208.3

95 Brahmaputra Valley Fertilizer Corpn. Ltd. Urea 252.56 221.9 0.61 0.72 0.26 0.29 38.14 5.52 15% 2% 46.05 70.8 108.81 107.72 226.69 201.77 0.31 0.79 14.72 11.82 210.5

96 Kolmak Chemicals Ltd. Titanium dioxide 17.82 15.93 0.96 0.61 1.86 1.18 0.64 -1.58 4% -10% 41.48 42.16 53.74 36.19 33.59 32.24 35.15 25.28 30.2 23.47 213.3

97 Ghaziabad Organics Ltd. Acetic acid 18.48 29.49 0.85 0.71 0.60 0.80 2.55 4.21 14% 14% 36.69 34.1 98.3 49.93 42.35 57.05 33.2 37.05 18.75 10.09 214.0

98 Astec Lifesciences Ltd. Chemicals 31.48 55.17 0.75 0.75 1.08 1.25 6.41 14.74 20% 27% 88.22 87.91 133.45 134.84 43.37 27.39 96.49 92.2 49.39 28.34 214.1

99 Nicomet Industries Ltd. Cobalt hydroxide 103.39 205.17 0.91 0.80 2.80 4.17 12.25 27.84 12% 14% 63.4 47.4 122.51 112.45 28.28 29.07 43.32 51.76 33.5 18.37 217.3

100 Organic Coatings Ltd. Printing ink 32.23 36.82 0.86 0.79 3.22 2.82 1.13 2.8 4% 8% 127.94 121.94 73.63 95.48 70.11 58.57 11.28 12.89 18.45 24.04 218.0

101 Borax Morarji Ltd. Borax 61.25 81.08 0.68 0.69 2.93 2.70 7.61 10.65 12% 13% 56.78 48.03 117.08 88.27 156.8 113.69 11.73 8.7 29.72 16.31 221.1

102 Indian Toners & Developers Ltd. Duplicating ink 42.73 39.25 0.54 0.55 1.41 1.44 9.27 5.89 22% 15% 56.03 72.8 87.64 95.18 83.65 113.99 11.45 13.34 17.75 19.61 222.2

103 Crystal Phosphates Ltd. Pesticides 184.27 217.13 0.85 0.81 22.68 25.20 9.38 13.55 5% 6% 43.81 48.38 94.44 115.46 22.11 21.62 6.28 13.32 58.79 56.7 222.7

104 Sabero Organics Gujarat Ltd. Organophosphorous insecticides 155.6 198.24 0.85 0.74 2.20 2.48 17.04 25.04 11% 13% 45.29 42.62 90.4 105 42.88 31.56 11.4 11.51 48.77 43.81 225.0

105 Meghmani Industries Ltd. Pesticides 102.41 108.3 0.73 0.74 5.43 3.93 14.06 15.58 14% 14% 136.2 128.81 49.51 67.62 77.04 102.75 52.61 43.29 19.7 26.85 225.2

106 Navin Fluorine Intl. Ltd. Fluro carbon 265.75 294.78 0.67 0.65 1.03 1.05 43.6 35.89 16% 12% 61.9 69.52 144.29 178.29 71.41 70.55 4.32 4.12 34.78 33.75 226.6

107 Narmada Gelatines Ltd. Gelatin 53.37 56.92 0.75 0.81 2.74 2.34 5.48 8.31 10% 15% 49.76 51.03 39.9 48.6 59.87 48.21 44.62 43.6 20.25 24.39 227.3

108 Shiva Fertilizers Ltd. Single superphosphate 48.92 63.36 0.78 0.86 8.13 10.22 1.69 2.53 3% 4% 35.72 24.26 51.23 14.55 50.03 101.7 3.23 3.37 54.29 41.9 227.4

109 Lords Chemicals Ltd. Chromates of sodium, potassium, zinc & lead 34.53 21.98 0.78 0.76 4.75 3.24 2.11 2.55 6% 12% NA 16.95 75.3 202.98 NA 113.62 NA 21.73 NA 1.31 227.9

ch

em

icA

ls

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 92: Reinventing the Supply Chain

110 Solaris Chemtech Ltd. Inorganic chemicals 217.31 256.98 0.63 0.55 0.52 0.43 50.95 62.6 23% 24% 34.19 32.4 96.52 121.94 147.73 176.38 9.42 11.84 10.97 7.78 228.4

111 Jupiter Bioscience Ltd. Oxygen function amino compounds 103.84 130.54 0.54 0.47 0.34 0.22 55.19 80.36 53% 62% 74.48 81.72 15.26 15.22 69.24 88.49 66.38 81.12 50.87 53.15 228.9

112 Nitta Gelatin India Ltd. Gelatin 135.92 151.87 0.71 0.65 1.77 1.77 16.88 17.95 12% 12% 17.7 21.94 27.72 26.03 56.01 60.43 56.47 47.12 26.3 22.35 229.5

113 Spectrum Ethers Ltd. Phorate 24.07 36.71 0.80 0.56 1.54 1.74 2.14 3.17 9% 9% 88.72 67.02 131.02 99.5 46.08 39.27 26.04 50.27 61.92 24.26 229.5

114 Solaris Chemtech Inds. Ltd. Citric acid & its salts 49.87 46.73 0.83 0.31 0.23 0.09 -19.11 37.49 -38% 80% 41.1 77.26 32.39 256.3 57.73 103.54 11.27 22.45 21.48 20.31 231.8

115 Benzo Petro International Ltd. Organic chemicals 28.03 28.72 1.03 1.03 6.78 3.32 -0.08 0.35 0% 1% 6.58 13.34 101.54 249.46 67.06 66.61 3.57 0.85 6.17 18.74 236.0

116 Paushak Ltd. Chemicals 21.3 24.75 0.63 0.59 1.41 1.24 5.27 5.89 25% 24% 65.42 63.45 200.34 172.58 117.37 95.66 2.38 6.51 30.78 39.1 237.7

117 Rathi Graphic Technologies Ltd. Chemicals for photographic uses 13.81 14.58 0.65 0.54 0.66 0.58 2.87 3.46 21% 24% 83.57 85.12 52.07 46.61 137.64 168.72 20.97 28.5 33.25 43.14 238.0

118 India Gelatine & Chemicals Ltd. Gelatin 63.6 59.66 0.74 0.76 1.02 0.99 3.57 6.22 6% 10% 33.88 37.37 11.31 16.62 34 35.43 27.88 31.04 53.56 64.02 238.7

119 Tuticorin Alkali Chemicals & Fertilisers Ltd. Sodium carbonate (Soda Ash) 141.11 76.06 0.73 0.55 1.55 0.72 15.62 5.23 11% 7% 37.88 43.75 54.37 86.82 76.97 199.55 3.39 5.87 17.01 15.81 238.7

120 Vishnu Chemicals Ltd. Sodium 114.83 120.98 0.60 0.50 0.92 0.36 20.27 23.63 18% 20% 52.02 52.13 94.92 133.34 18.36 102.06 27.7 32.97 16.07 14.28 242.2

121 Alkyl Amines Chemicals Ltd. Amine function compounds 132.11 161.03 0.81 0.68 1.32 1.17 26.05 28.47 20% 18% 74.95 84.64 73.39 85 77.02 74.57 23.91 27 38.92 41.47 243.7

122 Hindustan Photo Films Mfg. Co. Ltd. Photographic or cinematographic goods 13.16 15.74 2.41 1.80 0.09 0.09 -17.5 -38.11 -133% -242% 372.1 352.09 647.84 456.06 211.12 207.17 30.38 21.4 2.6 2.88 246.0

123 Gujarat Agrochem Ltd. Pesticides 40.52 58.58 0.95 0.80 1.61 1.99 1.66 6.2 4% 11% 50.13 22.38 149.4 131.37 30.05 21.04 45.18 41.75 27.44 31.67 246.1

124 Hindustan Insecticides Ltd. Insecticides 176.17 190.49 0.82 0.71 4.42 4.28 11.3 11.92 6% 6% 109.64 87.06 110.6 103.61 70.88 69.25 21.57 29.72 44.19 41.17 246.6

125 Agrocel Industries Ltd. Bromine 45.51 66.44 0.82 0.84 2.02 2.22 3.85 6.46 8% 10% 45.47 40.58 125.59 142.67 60.48 62.09 8.97 5.67 26.38 28.41 246.7

126 Wimco Ltd. Matches 173.98 203.76 0.74 0.81 1.23 1.37 10.8 11.36 6% 6% 21 13.99 92.07 88.71 79.17 74.26 2.46 8.54 12.62 13.77 248.7

127 Sadhana Nitro Chem Ltd. Organic chemicals 66.46 75.18 0.81 0.78 1.27 1.39 6.06 4.01 9% 5% 32.76 42.35 71.49 90.35 65.98 70.11 7.5 7.29 26.28 23.5 249.4

128 Gujarat Organics Ltd. Benzoic acid 19.54 20.06 0.77 0.83 1.35 1.30 4.22 0.72 22% 4% 54.23 63.54 94.24 115.45 22.65 24.31 31.21 76.68 47.65 33.49 250.8

129 Avon Organics Ltd. Organic chemicals 68.69 69.45 0.91 0.75 1.10 0.93 -7.01 4.56 -10% 7% 112.48 93.53 36.79 48.97 80.18 114.56 107.51 147.38 20.42 22.23 251.9

130 V B C Industries Ltd. Ammonium nitrate 24.19 32.87 0.75 1.04 0.39 0.77 3.69 -0.59 15% -2% 16.74 16.26 238.32 191.17 266.65 290.05 2.77 2.94 3.62 9.03 262.0

131 Asian Fertilizers Ltd. Single superphosphate 18.12 17.13 0.88 0.77 4.10 3.57 0.81 0.79 4% 5% 20.17 31.19 152.71 189.28 49.55 67.6 48.34 33.01 11.36 14.38 262.4

132 Pandian Chemicals Ltd. Chlorates & perchlorates 20.25 26.38 0.70 0.79 1.18 1.49 5.34 6.32 26% 24% 32.92 21.46 95.26 132.83 115.16 115.58 31.54 28.57 17.13 21.06 275.5

133 Diamines & Chemicals Ltd. Amine function compounds 22.87 19.45 0.58 0.72 0.53 0.59 11.56 5.96 51% 31% 47.36 73.92 223.4 212.59 73.28 90.31 71.62 105.63 45.04 59.88 280.6

134 Shreyas Intermediates Ltd. Acrylonitrile 61.76 88.57 0.86 0.91 1.50 1.17 8.98 13.09 15% 15% 37.29 32.77 62.7 53.04 79.42 77.24 14.79 32.65 47.48 41.53 280.7

135 C J Gelatine Products Ltd. Gelatin 12.77 15.19 1.05 0.86 0.93 0.92 0.67 0.47 5% 3% 62.38 45.29 179.81 161.2 39.5 26.53 131.03 127.48 35.72 40.85 282.4

136 Indokem Ltd. Dyes 69.75 67.96 0.88 0.83 1.92 0.94 7.67 5.07 11% 7% 81.07 74.19 136.14 174.21 44.26 63.75 85.05 139.65 35.63 38.29 288.1

137 Aimco Pesticides Ltd. Chlorpyriphos 17.98 11.66 0.76 0.80 1.79 1.44 -0.37 -2.1 -2% -18% 468.55 703.58 171.12 239.9 102.36 119.22 247.72 333.02 153.28 176.84 303.9

138 Innovassynth Technologies (India) Ltd. Carboxylic acids 23.11 32.46 1.11 0.89 0.31 0.36 -4.76 -2.96 -21% -9% 168.33 132.54 215.25 275.27 138.17 161 34.48 35.82 43.97 41.92 311.1

1 Bajaj Consumer Care Ltd. Hair oil 146.74 169.46 0.38 0.37 3.55 4.21 25.02 35.57 17% 21% 2.38 1.17 83.07 61.44 14.03 13.95 1.06 1.18 10.75 10.44 14.8

2 Standard Surfactants Ltd. Synthetic detergents 21.63 40.99 0.78 0.86 1.16 2.41 3.64 4.05 17% 10% 92.23 62.15 39.64 35.34 103.33 30.11 16.52 3.26 9.1 6.03 17.0

3 Primacy Industries Ltd. Perfumes 60.06 107.06 0.70 0.78 2.14 4.17 4.69 5.72 8% 5% 107.04 54.05 46.34 21.09 98.88 69.05 3.33 0.66 1.55 1.61 17.8

4 Ador Multiproducts Ltd. Cosmetics & toilet preparations 10.17 10.86 0.54 0.70 3.85 5.43 0.59 0.56 6% 5% 62.46 45.07 33.64 24.73 31.59 33.83 0.3 0.74 13.43 20.28 18.7

5 Amar Remedies Ltd. Tooth paste 167.01 201.86 0.59 0.55 2.36 1.36 27.8 27.01 17% 13% 62.78 78.84 18.16 44.29 56.78 71.31 1.99 1.51 15.32 11.71 21.5

6 Pee Cee Cosma Sope Ltd. Washing soap flakes, chips & powder 17.91 21.41 0.85 0.86 1.50 1.52 0.37 0.63 2% 3% 8.11 6.34 14.31 13.14 25.46 22.84 2.83 2.62 13.35 15.27 21.8

7 Paramount Minerals & Chemicals Ltd. Whitening agents 42.7 65.19 0.65 0.71 1.34 1.64 6.86 9.05 16% 14% 35.44 31.14 45.41 55.86 44.96 46.86 9.71 6.79 1.83 2.19 21.9

8 A V T Natural Products Ltd. Essential oils 72.9 86.89 0.76 0.52 2.62 1.99 18.68 19.05 26% 22% 120.81 117.14 17.4 31.45 72.65 57.16 13.11 11.51 82.69 77.41 24.2

9 Shingar Ltd. Cosmetics & toilet preparations 19.26 22.35 0.61 0.70 1.90 2.51 -1.39 1.89 -7% 8% 117.9 117.23 58.48 60.15 43.43 32.06 81.7 70.42 13.59 20.21 25.2

10 Diamond Dye-Chem Ltd. Whitening agents 140.08 161.69 0.70 0.78 1.17 1.34 68.78 32.15 49% 20% 63.62 55.98 60.93 51.33 52.05 57.74 9.45 7.98 17.78 19.61 25.9

11 Sijmak Oils Ltd. Other essential oils 19.01 19.83 0.75 0.71 3.01 3.13 4.6 2.78 24% 14% 97.69 106.9 72.86 18.99 53.01 54.44 57.15 43.77 63.37 59.07 25.9

12 International Flavours & Fragrances (India) Odouriferous mixtures used in industry 287.75 282.15 0.55 0.64 4.74 5.50 70.96 60.88 25% 22% 49.75 55.56 74.44 98.33 52 66.29 9.62 10.72 27.07 34.99 26.0

13 Hindustan Polyamides & Fibres Ltd. Organic surface-active agents other than soap 149.65 204.23 0.80 0.77 1.71 1.99 13.94 26.38 9% 13% 52 36.25 100.49 93.49 26.13 41.26 11.37 12.86 18.86 18.25 28.4

14 Ultra International Ltd. Perfumes & toilet waters 9.81 17.17 0.70 0.87 0.88 1.83 1.13 2.13 12% 12% 60.73 37.44 21.87 25.74 185.57 125.43 13.03 15.12 0 11.03 30.8

15 J H S Svendgaard Laboratories Ltd. Preparations for oral or dental hygiene 32.53 37.27 0.68 0.72 1.10 0.46 6.32 7.05 19% 19% 82.91 67.73 60.96 117.18 185.53 142.77 5.1 4.88 28.42 51.99 32.4

16 Indfrag Ltd. Essential oils other than of citrus fruits 31.13 26.99 0.52 0.34 0.93 0.55 3.04 2.43 10% 9% 44.65 42.22 53.45 85.02 59.64 67.01 35.14 42.59 39.89 40.96 34.4

cosmetics AnD cleAning

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers90

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 93: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 91

110 Solaris Chemtech Ltd. Inorganic chemicals 217.31 256.98 0.63 0.55 0.52 0.43 50.95 62.6 23% 24% 34.19 32.4 96.52 121.94 147.73 176.38 9.42 11.84 10.97 7.78 228.4

111 Jupiter Bioscience Ltd. Oxygen function amino compounds 103.84 130.54 0.54 0.47 0.34 0.22 55.19 80.36 53% 62% 74.48 81.72 15.26 15.22 69.24 88.49 66.38 81.12 50.87 53.15 228.9

112 Nitta Gelatin India Ltd. Gelatin 135.92 151.87 0.71 0.65 1.77 1.77 16.88 17.95 12% 12% 17.7 21.94 27.72 26.03 56.01 60.43 56.47 47.12 26.3 22.35 229.5

113 Spectrum Ethers Ltd. Phorate 24.07 36.71 0.80 0.56 1.54 1.74 2.14 3.17 9% 9% 88.72 67.02 131.02 99.5 46.08 39.27 26.04 50.27 61.92 24.26 229.5

114 Solaris Chemtech Inds. Ltd. Citric acid & its salts 49.87 46.73 0.83 0.31 0.23 0.09 -19.11 37.49 -38% 80% 41.1 77.26 32.39 256.3 57.73 103.54 11.27 22.45 21.48 20.31 231.8

115 Benzo Petro International Ltd. Organic chemicals 28.03 28.72 1.03 1.03 6.78 3.32 -0.08 0.35 0% 1% 6.58 13.34 101.54 249.46 67.06 66.61 3.57 0.85 6.17 18.74 236.0

116 Paushak Ltd. Chemicals 21.3 24.75 0.63 0.59 1.41 1.24 5.27 5.89 25% 24% 65.42 63.45 200.34 172.58 117.37 95.66 2.38 6.51 30.78 39.1 237.7

117 Rathi Graphic Technologies Ltd. Chemicals for photographic uses 13.81 14.58 0.65 0.54 0.66 0.58 2.87 3.46 21% 24% 83.57 85.12 52.07 46.61 137.64 168.72 20.97 28.5 33.25 43.14 238.0

118 India Gelatine & Chemicals Ltd. Gelatin 63.6 59.66 0.74 0.76 1.02 0.99 3.57 6.22 6% 10% 33.88 37.37 11.31 16.62 34 35.43 27.88 31.04 53.56 64.02 238.7

119 Tuticorin Alkali Chemicals & Fertilisers Ltd. Sodium carbonate (Soda Ash) 141.11 76.06 0.73 0.55 1.55 0.72 15.62 5.23 11% 7% 37.88 43.75 54.37 86.82 76.97 199.55 3.39 5.87 17.01 15.81 238.7

120 Vishnu Chemicals Ltd. Sodium 114.83 120.98 0.60 0.50 0.92 0.36 20.27 23.63 18% 20% 52.02 52.13 94.92 133.34 18.36 102.06 27.7 32.97 16.07 14.28 242.2

121 Alkyl Amines Chemicals Ltd. Amine function compounds 132.11 161.03 0.81 0.68 1.32 1.17 26.05 28.47 20% 18% 74.95 84.64 73.39 85 77.02 74.57 23.91 27 38.92 41.47 243.7

122 Hindustan Photo Films Mfg. Co. Ltd. Photographic or cinematographic goods 13.16 15.74 2.41 1.80 0.09 0.09 -17.5 -38.11 -133% -242% 372.1 352.09 647.84 456.06 211.12 207.17 30.38 21.4 2.6 2.88 246.0

123 Gujarat Agrochem Ltd. Pesticides 40.52 58.58 0.95 0.80 1.61 1.99 1.66 6.2 4% 11% 50.13 22.38 149.4 131.37 30.05 21.04 45.18 41.75 27.44 31.67 246.1

124 Hindustan Insecticides Ltd. Insecticides 176.17 190.49 0.82 0.71 4.42 4.28 11.3 11.92 6% 6% 109.64 87.06 110.6 103.61 70.88 69.25 21.57 29.72 44.19 41.17 246.6

125 Agrocel Industries Ltd. Bromine 45.51 66.44 0.82 0.84 2.02 2.22 3.85 6.46 8% 10% 45.47 40.58 125.59 142.67 60.48 62.09 8.97 5.67 26.38 28.41 246.7

126 Wimco Ltd. Matches 173.98 203.76 0.74 0.81 1.23 1.37 10.8 11.36 6% 6% 21 13.99 92.07 88.71 79.17 74.26 2.46 8.54 12.62 13.77 248.7

127 Sadhana Nitro Chem Ltd. Organic chemicals 66.46 75.18 0.81 0.78 1.27 1.39 6.06 4.01 9% 5% 32.76 42.35 71.49 90.35 65.98 70.11 7.5 7.29 26.28 23.5 249.4

128 Gujarat Organics Ltd. Benzoic acid 19.54 20.06 0.77 0.83 1.35 1.30 4.22 0.72 22% 4% 54.23 63.54 94.24 115.45 22.65 24.31 31.21 76.68 47.65 33.49 250.8

129 Avon Organics Ltd. Organic chemicals 68.69 69.45 0.91 0.75 1.10 0.93 -7.01 4.56 -10% 7% 112.48 93.53 36.79 48.97 80.18 114.56 107.51 147.38 20.42 22.23 251.9

130 V B C Industries Ltd. Ammonium nitrate 24.19 32.87 0.75 1.04 0.39 0.77 3.69 -0.59 15% -2% 16.74 16.26 238.32 191.17 266.65 290.05 2.77 2.94 3.62 9.03 262.0

131 Asian Fertilizers Ltd. Single superphosphate 18.12 17.13 0.88 0.77 4.10 3.57 0.81 0.79 4% 5% 20.17 31.19 152.71 189.28 49.55 67.6 48.34 33.01 11.36 14.38 262.4

132 Pandian Chemicals Ltd. Chlorates & perchlorates 20.25 26.38 0.70 0.79 1.18 1.49 5.34 6.32 26% 24% 32.92 21.46 95.26 132.83 115.16 115.58 31.54 28.57 17.13 21.06 275.5

133 Diamines & Chemicals Ltd. Amine function compounds 22.87 19.45 0.58 0.72 0.53 0.59 11.56 5.96 51% 31% 47.36 73.92 223.4 212.59 73.28 90.31 71.62 105.63 45.04 59.88 280.6

134 Shreyas Intermediates Ltd. Acrylonitrile 61.76 88.57 0.86 0.91 1.50 1.17 8.98 13.09 15% 15% 37.29 32.77 62.7 53.04 79.42 77.24 14.79 32.65 47.48 41.53 280.7

135 C J Gelatine Products Ltd. Gelatin 12.77 15.19 1.05 0.86 0.93 0.92 0.67 0.47 5% 3% 62.38 45.29 179.81 161.2 39.5 26.53 131.03 127.48 35.72 40.85 282.4

136 Indokem Ltd. Dyes 69.75 67.96 0.88 0.83 1.92 0.94 7.67 5.07 11% 7% 81.07 74.19 136.14 174.21 44.26 63.75 85.05 139.65 35.63 38.29 288.1

137 Aimco Pesticides Ltd. Chlorpyriphos 17.98 11.66 0.76 0.80 1.79 1.44 -0.37 -2.1 -2% -18% 468.55 703.58 171.12 239.9 102.36 119.22 247.72 333.02 153.28 176.84 303.9

138 Innovassynth Technologies (India) Ltd. Carboxylic acids 23.11 32.46 1.11 0.89 0.31 0.36 -4.76 -2.96 -21% -9% 168.33 132.54 215.25 275.27 138.17 161 34.48 35.82 43.97 41.92 311.1

1 Bajaj Consumer Care Ltd. Hair oil 146.74 169.46 0.38 0.37 3.55 4.21 25.02 35.57 17% 21% 2.38 1.17 83.07 61.44 14.03 13.95 1.06 1.18 10.75 10.44 14.8

2 Standard Surfactants Ltd. Synthetic detergents 21.63 40.99 0.78 0.86 1.16 2.41 3.64 4.05 17% 10% 92.23 62.15 39.64 35.34 103.33 30.11 16.52 3.26 9.1 6.03 17.0

3 Primacy Industries Ltd. Perfumes 60.06 107.06 0.70 0.78 2.14 4.17 4.69 5.72 8% 5% 107.04 54.05 46.34 21.09 98.88 69.05 3.33 0.66 1.55 1.61 17.8

4 Ador Multiproducts Ltd. Cosmetics & toilet preparations 10.17 10.86 0.54 0.70 3.85 5.43 0.59 0.56 6% 5% 62.46 45.07 33.64 24.73 31.59 33.83 0.3 0.74 13.43 20.28 18.7

5 Amar Remedies Ltd. Tooth paste 167.01 201.86 0.59 0.55 2.36 1.36 27.8 27.01 17% 13% 62.78 78.84 18.16 44.29 56.78 71.31 1.99 1.51 15.32 11.71 21.5

6 Pee Cee Cosma Sope Ltd. Washing soap flakes, chips & powder 17.91 21.41 0.85 0.86 1.50 1.52 0.37 0.63 2% 3% 8.11 6.34 14.31 13.14 25.46 22.84 2.83 2.62 13.35 15.27 21.8

7 Paramount Minerals & Chemicals Ltd. Whitening agents 42.7 65.19 0.65 0.71 1.34 1.64 6.86 9.05 16% 14% 35.44 31.14 45.41 55.86 44.96 46.86 9.71 6.79 1.83 2.19 21.9

8 A V T Natural Products Ltd. Essential oils 72.9 86.89 0.76 0.52 2.62 1.99 18.68 19.05 26% 22% 120.81 117.14 17.4 31.45 72.65 57.16 13.11 11.51 82.69 77.41 24.2

9 Shingar Ltd. Cosmetics & toilet preparations 19.26 22.35 0.61 0.70 1.90 2.51 -1.39 1.89 -7% 8% 117.9 117.23 58.48 60.15 43.43 32.06 81.7 70.42 13.59 20.21 25.2

10 Diamond Dye-Chem Ltd. Whitening agents 140.08 161.69 0.70 0.78 1.17 1.34 68.78 32.15 49% 20% 63.62 55.98 60.93 51.33 52.05 57.74 9.45 7.98 17.78 19.61 25.9

11 Sijmak Oils Ltd. Other essential oils 19.01 19.83 0.75 0.71 3.01 3.13 4.6 2.78 24% 14% 97.69 106.9 72.86 18.99 53.01 54.44 57.15 43.77 63.37 59.07 25.9

12 International Flavours & Fragrances (India) Odouriferous mixtures used in industry 287.75 282.15 0.55 0.64 4.74 5.50 70.96 60.88 25% 22% 49.75 55.56 74.44 98.33 52 66.29 9.62 10.72 27.07 34.99 26.0

13 Hindustan Polyamides & Fibres Ltd. Organic surface-active agents other than soap 149.65 204.23 0.80 0.77 1.71 1.99 13.94 26.38 9% 13% 52 36.25 100.49 93.49 26.13 41.26 11.37 12.86 18.86 18.25 28.4

14 Ultra International Ltd. Perfumes & toilet waters 9.81 17.17 0.70 0.87 0.88 1.83 1.13 2.13 12% 12% 60.73 37.44 21.87 25.74 185.57 125.43 13.03 15.12 0 11.03 30.8

15 J H S Svendgaard Laboratories Ltd. Preparations for oral or dental hygiene 32.53 37.27 0.68 0.72 1.10 0.46 6.32 7.05 19% 19% 82.91 67.73 60.96 117.18 185.53 142.77 5.1 4.88 28.42 51.99 32.4

16 Indfrag Ltd. Essential oils other than of citrus fruits 31.13 26.99 0.52 0.34 0.93 0.55 3.04 2.43 10% 9% 44.65 42.22 53.45 85.02 59.64 67.01 35.14 42.59 39.89 40.96 34.4

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 94: Reinventing the Supply Chain

17 Sunehari Exports Ltd. Tooth brush 20.58 21.88 0.64 1.85 0.56 1.59 9.46 15.21 46% 70% 57.75 98.57 39.95 448.03 81.38 98.97 11.73 29.42 10.42 164.7 37.0

18 Ajanta India Ltd. Tooth paste 69.72 85.87 0.90 0.96 2.40 3.18 6.63 8.09 10% 9% 32.54 40.24 117.63 189.88 185.81 404.96 6.85 8.17 53.05 73.48 38.0

1 Amco India Ltd. Diversified 92.42 90.46 0.86 0.87 3.95 3.73 5.46 5.15 6% 6% 74.53 75.42 73.23 42.06 31.38 38.18 12.67 11.59 8.31 9.4 10.9

2 Hardcastle & Waud Mfg. Co. Ltd. Diversified 27.68 33.38 0.65 0.69 4.63 4.30 0.15 11.94 1% 36% 38.45 26.78 18.33 18.72 72.15 62.35 7.43 8.58 25.78 14.05 11.4

3 Bombay Burmah Trdg. Corpn. Ltd. Diversified 220.71 243 0.61 0.59 1.50 1.49 33.06 40.5 15% 17% 68.05 79.36 61.91 64.11 62.33 62.28 11.26 8.33 43.05 45.33 12.0

4 English Indian Clays Ltd. Diversified 242.5 266.32 0.57 0.60 0.87 0.85 45.89 51.87 19% 19% 34.7 38.93 53.28 51.01 76.19 79.66 4.68 6.02 11.2 11.72 12.2

5 Modi Industries Ltd. Diversified 197.51 263.84 0.80 0.85 1.61 2.27 -9.26 5.79 -5% 2% 36.08 34.57 152.64 142.7 26.96 28.75 5.09 5.97 45.28 45.99 13.5

6 Andrew yule & Co. Ltd. Diversified 139.66 174.71 0.74 0.75 0.62 0.77 -46.46 32.58 -33% 19% 236.22 209.22 252.7 232.31 80.57 66.24 15.65 16.36 9.14 7.62 13.6

7 Batliboi Ltd. Diversified 128.35 130.25 0.65 0.61 1.85 1.69 22.71 21 18% 16% 55.22 64.33 146.19 110.82 68.26 84.64 55.31 65.87 3.08 2.6 14.8

8 Tamil Nadu Small Inds. Corpn. Ltd. Diversified 58.23 115.82 0.88 0.64 0.23 0.37 3.88 13.75 7% 12% 80.79 39.08 508.87 204.92 22.9 34.77 24.32 22.39 45.92 29.43 15.7

9 Jessop & Co. Ltd. Diversified 83.01 131.88 0.55 1.08 0.84 2.13 16.74 25.45 20% 19% 241.64 134.35 158.92 168.2 124.53 66.66 126.76 134.72 7.45 36.75 17.4

1 Harman Finochem Ltd. Drugs, medicines & allied products 69.73 76.65 0.58 0.60 1.52 1.66 20.04 20.69 29% 27% NA 61.39 83.34 60.08 NA 21.66 NA 0.52 NA 1.86 57.4

2 Vikram Thermo (India) Ltd. Basic pharmaceuticals nec 13.59 17.41 0.57 0.55 1.21 1.28 3.03 4.03 22% 23% 122.68 120.27 98.31 66.19 29.89 28.23 1.73 2.83 24 14.41 75.6

3 Natural Capsules Ltd. Empty capsules 17.73 20.2 0.57 0.57 0.82 0.95 4.83 5.46 27% 27% 109.79 119.44 87.22 75.75 34.05 39.42 1.59 0.31 16.8 16.67 85.1

4 Syncom Formulations (India) Ltd. Drug formulations 61.37 69.08 0.49 0.58 1.16 1.27 7.93 7.76 13% 11% 76.59 84.87 40.53 90.71 27.24 24.55 10.24 5.52 7.07 5.47 87.9

5 Twilight Litaka Pharma Ltd. Drug formulations 197.52 296.04 0.80 0.83 5.24 5.96 26.3 37.41 13% 13% 106.81 110.82 43.88 38.41 12.63 11.01 9.99 7.08 22.94 24.18 90.6

6 Sanjivani Paranteral Ltd. Antibiotics 68.94 91.85 0.89 0.89 4.88 6.30 6.48 7.48 9% 8% 98.82 114.21 44.3 94.76 73.86 57.42 0.6 0.8 0.42 0.39 92.3

7 Creative Health Care Pvt. Ltd. Drugs, medicines & allied products 7.76 25.39 0.39 0.50 0.41 1.59 1.56 3.98 20% 16% 60.13 52.78 159.98 77.55 86.94 48.63 0 5.03 2.91 1.38 93.1

8 Medi-Caps Ltd. Other pharmaceutical products, nec 24.37 31.08 0.41 0.29 1.84 1.91 10.15 16.71 42% 54% 83.86 96.5 66.22 61.21 34.88 41.45 8.38 7.15 31.78 27.92 93.5

9 Tyche Industries Ltd. Drugs, medicines & allied products 27.33 29.37 0.69 0.62 1.97 1.75 6.16 5.3 23% 18% 96.27 91.78 50.29 49.65 34.64 49.36 5.94 5.97 15.59 14.37 99.0

10 Anuh Pharma Ltd. Antibiotics 83.88 113.68 0.86 0.80 9.42 10.62 11.77 12.72 14% 11% 81.54 79.9 90.72 125.03 23.7 22.35 3.06 1.81 10.93 11.18 101.3

11 Arvind Remedies Ltd. Drug formulations 156.65 175.81 0.80 0.83 2.25 2.21 13.47 18.1 9% 10% 120.06 121.2 39.24 56.53 37.11 35.14 26.18 33.52 3.31 1.52 104.0

12 Aarey Drugs & Pharmaceuticals Ltd. Drug formulations 23.03 25.03 0.92 0.93 5.14 6.31 1.53 1.18 7% 5% 67.17 100.76 67.5 118.01 33.09 47.33 2.48 1.33 1.43 1.53 104.0

13 Kilitch Drugs (India) Ltd. Drug formulations 32.4 117.32 0.73 0.77 0.48 1.81 5.2 23.18 16% 20% 69.1 77.95 478.92 128.37 51.55 38.28 11.26 5.6 3.52 2.15 105.4

14 Pan Drugs Ltd. Formulations of mainly chloramphenicol 18.04 25.3 0.92 0.91 3.65 5.42 0.47 1.34 3% 5% 39.01 30.65 63.78 65.76 6.69 9.36 3.85 4.36 5.98 7.19 105.8

15 Gennex Laboratories Ltd. Drugs, medicines & allied products 10.99 22.31 0.65 0.26 0.71 0.63 2.08 2.04 19% 9% 89.58 82.35 39.23 85.99 36.33 61.4 19.03 3.85 5.55 1.45 106.8

16 Vasudha Pharma Chem Ltd. Drugs, medicines & allied products 137.9 165.66 0.69 0.70 2.78 1.78 10.66 16.91 8% 10% 77.92 96.82 96.17 98.59 42.38 36.93 10.79 14.35 0.78 0.86 108.4

17 Penam Laboratories Ltd. Drug formulations 24.38 63.04 0.90 0.90 3.45 10.95 6.57 7.64 27% 12% NA 39.25 128.85 126.75 NA 12.37 NA 7.85 NA 3.8 113.8

18 Venus Remedies Ltd. Drugs, medicines & allied products 140.12 212.63 0.57 0.56 0.87 0.98 39.15 55.95 28% 26% 21.9 22.11 16.7 17.43 26.53 26.75 17.54 16.76 16.63 14.2 114.1

19 Rajasthan Drugs & Pharmaceuticals Ltd. Drug formulations 41.65 88.44 0.68 0.80 7.02 9.49 3.74 5.26 9% 6% 146.43 89.6 108.97 67.11 36.38 41.52 5.55 17.95 10.38 6.64 116.9

20 Sidmak Laboratories (India) Pvt. Ltd. Drug formulations 33.4 34.87 0.64 0.64 0.56 0.51 5.42 7.27 16% 21% 39.64 43.55 51.49 32.27 71.82 65.98 11.82 9.24 1.48 2.12 118.3

21 Roopa Industries Ltd. Drugs, medicines & allied products 13.51 11.73 0.79 0.77 1.87 1.54 0.71 0.69 5% 6% 55.25 83.67 46.13 53.91 25.17 36.04 18.37 13.99 6.88 9.94 119.2

22 Unibios Laboratories Ltd. Paracetamol 36 50.79 0.88 0.95 4.68 7.44 2.32 2.87 6% 6% 112.6 84.08 70.54 43.13 50.59 37.27 44.78 33.64 3.25 2.41 119.3

23 Granules India Ltd. Paracetamol 175.49 187.71 0.64 0.65 0.79 0.62 27.12 34.83 15% 19% 61.26 35.41 58.39 32.36 32.93 39.81 10.06 8.71 16.23 11.2 120.3

24 Zandu Pharmaceutical Works Ltd. Ayurvedic & unani medicaments 131.65 138.44 0.35 0.34 1.29 1.05 24.18 27.37 18% 20% 13.1 9.81 53.86 60.42 76.15 67.43 1.23 0.81 21.93 19.26 121.4

25 Suyash Laboratories Ltd. Drugs, medicines & allied products 33.38 36.74 0.73 0.74 0.82 0.98 6.86 6.7 21% 18% 48.21 75.63 50.44 28.12 43.23 27.54 18.42 13.61 18.37 27.87 121.5

26 Amrutanjan Health Care Ltd. Ayurvedic & unani medicaments 69 71.13 0.36 0.41 1.62 1.33 12.74 10.85 18% 15% 27.57 26.72 37.85 38.4 48.5 50.13 6.35 6.86 17.79 21.04 121.8

27 Sunil Healthcare Ltd. Empty capsules 27.81 26.06 0.50 0.54 0.69 0.49 6.52 6.28 23% 24% 97.67 112.77 92.89 94.71 38.12 44.26 21.58 22.75 9.35 10.5 123.0

28 Ozone Pharmaceuticals Ltd. Drug formulations 65.57 66.66 0.44 0.48 2.30 2.48 9.56 8.2 15% 12% 39.16 37.27 48.41 40.99 68.3 75.95 0.84 0.71 41.39 31.47 124.1

29 Mangalam Drugs & Organics Ltd. Drugs, medicines & allied products 83.9 91.8 0.81 0.92 1.99 2.38 5.91 6.84 7% 7% 101.72 92.44 54.35 43.4 27.17 24.51 18.44 13.59 23.57 28.22 124.4

30 Everest Organics Ltd. Drug formulations 13.69 20.47 0.75 0.77 0.76 1.22 1.39 2.31 10% 11% 64.87 58.7 159.91 139.48 32.24 24.4 11.81 9.02 9.61 5 124.5

31 Medicamen Biotech Ltd. Drug formulations 56.96 77.34 0.73 0.69 2.74 3.06 3.17 4.29 6% 6% 96.62 87.24 144.18 126.45 53.28 43.38 5.76 7.77 11.62 8.11 124.9

32 Makers Laboratories Ltd. Drug formulations 44.04 47.88 0.85 0.75 5.61 11.49 2.48 1.23 6% 3% 37.13 40.25 27.02 35.53 34.41 29.6 6.5 4.59 38.22 38.32 127.1

33 Ssl-Ttk Ltd. Other pharmaceutical products, nec 111.31 118.63 0.72 0.61 3.60 2.91 -0.86 12.33 -1% 10% 41.4 69.18 50.53 81.63 98.34 94.46 2.41 2.62 16.07 8.62 127.5

DiversifieD mAnufActuring

Drugs AnD PhArmAceuticAls

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers92

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 95: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 93

17 Sunehari Exports Ltd. Tooth brush 20.58 21.88 0.64 1.85 0.56 1.59 9.46 15.21 46% 70% 57.75 98.57 39.95 448.03 81.38 98.97 11.73 29.42 10.42 164.7 37.0

18 Ajanta India Ltd. Tooth paste 69.72 85.87 0.90 0.96 2.40 3.18 6.63 8.09 10% 9% 32.54 40.24 117.63 189.88 185.81 404.96 6.85 8.17 53.05 73.48 38.0

1 Amco India Ltd. Diversified 92.42 90.46 0.86 0.87 3.95 3.73 5.46 5.15 6% 6% 74.53 75.42 73.23 42.06 31.38 38.18 12.67 11.59 8.31 9.4 10.9

2 Hardcastle & Waud Mfg. Co. Ltd. Diversified 27.68 33.38 0.65 0.69 4.63 4.30 0.15 11.94 1% 36% 38.45 26.78 18.33 18.72 72.15 62.35 7.43 8.58 25.78 14.05 11.4

3 Bombay Burmah Trdg. Corpn. Ltd. Diversified 220.71 243 0.61 0.59 1.50 1.49 33.06 40.5 15% 17% 68.05 79.36 61.91 64.11 62.33 62.28 11.26 8.33 43.05 45.33 12.0

4 English Indian Clays Ltd. Diversified 242.5 266.32 0.57 0.60 0.87 0.85 45.89 51.87 19% 19% 34.7 38.93 53.28 51.01 76.19 79.66 4.68 6.02 11.2 11.72 12.2

5 Modi Industries Ltd. Diversified 197.51 263.84 0.80 0.85 1.61 2.27 -9.26 5.79 -5% 2% 36.08 34.57 152.64 142.7 26.96 28.75 5.09 5.97 45.28 45.99 13.5

6 Andrew yule & Co. Ltd. Diversified 139.66 174.71 0.74 0.75 0.62 0.77 -46.46 32.58 -33% 19% 236.22 209.22 252.7 232.31 80.57 66.24 15.65 16.36 9.14 7.62 13.6

7 Batliboi Ltd. Diversified 128.35 130.25 0.65 0.61 1.85 1.69 22.71 21 18% 16% 55.22 64.33 146.19 110.82 68.26 84.64 55.31 65.87 3.08 2.6 14.8

8 Tamil Nadu Small Inds. Corpn. Ltd. Diversified 58.23 115.82 0.88 0.64 0.23 0.37 3.88 13.75 7% 12% 80.79 39.08 508.87 204.92 22.9 34.77 24.32 22.39 45.92 29.43 15.7

9 Jessop & Co. Ltd. Diversified 83.01 131.88 0.55 1.08 0.84 2.13 16.74 25.45 20% 19% 241.64 134.35 158.92 168.2 124.53 66.66 126.76 134.72 7.45 36.75 17.4

1 Harman Finochem Ltd. Drugs, medicines & allied products 69.73 76.65 0.58 0.60 1.52 1.66 20.04 20.69 29% 27% NA 61.39 83.34 60.08 NA 21.66 NA 0.52 NA 1.86 57.4

2 Vikram Thermo (India) Ltd. Basic pharmaceuticals nec 13.59 17.41 0.57 0.55 1.21 1.28 3.03 4.03 22% 23% 122.68 120.27 98.31 66.19 29.89 28.23 1.73 2.83 24 14.41 75.6

3 Natural Capsules Ltd. Empty capsules 17.73 20.2 0.57 0.57 0.82 0.95 4.83 5.46 27% 27% 109.79 119.44 87.22 75.75 34.05 39.42 1.59 0.31 16.8 16.67 85.1

4 Syncom Formulations (India) Ltd. Drug formulations 61.37 69.08 0.49 0.58 1.16 1.27 7.93 7.76 13% 11% 76.59 84.87 40.53 90.71 27.24 24.55 10.24 5.52 7.07 5.47 87.9

5 Twilight Litaka Pharma Ltd. Drug formulations 197.52 296.04 0.80 0.83 5.24 5.96 26.3 37.41 13% 13% 106.81 110.82 43.88 38.41 12.63 11.01 9.99 7.08 22.94 24.18 90.6

6 Sanjivani Paranteral Ltd. Antibiotics 68.94 91.85 0.89 0.89 4.88 6.30 6.48 7.48 9% 8% 98.82 114.21 44.3 94.76 73.86 57.42 0.6 0.8 0.42 0.39 92.3

7 Creative Health Care Pvt. Ltd. Drugs, medicines & allied products 7.76 25.39 0.39 0.50 0.41 1.59 1.56 3.98 20% 16% 60.13 52.78 159.98 77.55 86.94 48.63 0 5.03 2.91 1.38 93.1

8 Medi-Caps Ltd. Other pharmaceutical products, nec 24.37 31.08 0.41 0.29 1.84 1.91 10.15 16.71 42% 54% 83.86 96.5 66.22 61.21 34.88 41.45 8.38 7.15 31.78 27.92 93.5

9 Tyche Industries Ltd. Drugs, medicines & allied products 27.33 29.37 0.69 0.62 1.97 1.75 6.16 5.3 23% 18% 96.27 91.78 50.29 49.65 34.64 49.36 5.94 5.97 15.59 14.37 99.0

10 Anuh Pharma Ltd. Antibiotics 83.88 113.68 0.86 0.80 9.42 10.62 11.77 12.72 14% 11% 81.54 79.9 90.72 125.03 23.7 22.35 3.06 1.81 10.93 11.18 101.3

11 Arvind Remedies Ltd. Drug formulations 156.65 175.81 0.80 0.83 2.25 2.21 13.47 18.1 9% 10% 120.06 121.2 39.24 56.53 37.11 35.14 26.18 33.52 3.31 1.52 104.0

12 Aarey Drugs & Pharmaceuticals Ltd. Drug formulations 23.03 25.03 0.92 0.93 5.14 6.31 1.53 1.18 7% 5% 67.17 100.76 67.5 118.01 33.09 47.33 2.48 1.33 1.43 1.53 104.0

13 Kilitch Drugs (India) Ltd. Drug formulations 32.4 117.32 0.73 0.77 0.48 1.81 5.2 23.18 16% 20% 69.1 77.95 478.92 128.37 51.55 38.28 11.26 5.6 3.52 2.15 105.4

14 Pan Drugs Ltd. Formulations of mainly chloramphenicol 18.04 25.3 0.92 0.91 3.65 5.42 0.47 1.34 3% 5% 39.01 30.65 63.78 65.76 6.69 9.36 3.85 4.36 5.98 7.19 105.8

15 Gennex Laboratories Ltd. Drugs, medicines & allied products 10.99 22.31 0.65 0.26 0.71 0.63 2.08 2.04 19% 9% 89.58 82.35 39.23 85.99 36.33 61.4 19.03 3.85 5.55 1.45 106.8

16 Vasudha Pharma Chem Ltd. Drugs, medicines & allied products 137.9 165.66 0.69 0.70 2.78 1.78 10.66 16.91 8% 10% 77.92 96.82 96.17 98.59 42.38 36.93 10.79 14.35 0.78 0.86 108.4

17 Penam Laboratories Ltd. Drug formulations 24.38 63.04 0.90 0.90 3.45 10.95 6.57 7.64 27% 12% NA 39.25 128.85 126.75 NA 12.37 NA 7.85 NA 3.8 113.8

18 Venus Remedies Ltd. Drugs, medicines & allied products 140.12 212.63 0.57 0.56 0.87 0.98 39.15 55.95 28% 26% 21.9 22.11 16.7 17.43 26.53 26.75 17.54 16.76 16.63 14.2 114.1

19 Rajasthan Drugs & Pharmaceuticals Ltd. Drug formulations 41.65 88.44 0.68 0.80 7.02 9.49 3.74 5.26 9% 6% 146.43 89.6 108.97 67.11 36.38 41.52 5.55 17.95 10.38 6.64 116.9

20 Sidmak Laboratories (India) Pvt. Ltd. Drug formulations 33.4 34.87 0.64 0.64 0.56 0.51 5.42 7.27 16% 21% 39.64 43.55 51.49 32.27 71.82 65.98 11.82 9.24 1.48 2.12 118.3

21 Roopa Industries Ltd. Drugs, medicines & allied products 13.51 11.73 0.79 0.77 1.87 1.54 0.71 0.69 5% 6% 55.25 83.67 46.13 53.91 25.17 36.04 18.37 13.99 6.88 9.94 119.2

22 Unibios Laboratories Ltd. Paracetamol 36 50.79 0.88 0.95 4.68 7.44 2.32 2.87 6% 6% 112.6 84.08 70.54 43.13 50.59 37.27 44.78 33.64 3.25 2.41 119.3

23 Granules India Ltd. Paracetamol 175.49 187.71 0.64 0.65 0.79 0.62 27.12 34.83 15% 19% 61.26 35.41 58.39 32.36 32.93 39.81 10.06 8.71 16.23 11.2 120.3

24 Zandu Pharmaceutical Works Ltd. Ayurvedic & unani medicaments 131.65 138.44 0.35 0.34 1.29 1.05 24.18 27.37 18% 20% 13.1 9.81 53.86 60.42 76.15 67.43 1.23 0.81 21.93 19.26 121.4

25 Suyash Laboratories Ltd. Drugs, medicines & allied products 33.38 36.74 0.73 0.74 0.82 0.98 6.86 6.7 21% 18% 48.21 75.63 50.44 28.12 43.23 27.54 18.42 13.61 18.37 27.87 121.5

26 Amrutanjan Health Care Ltd. Ayurvedic & unani medicaments 69 71.13 0.36 0.41 1.62 1.33 12.74 10.85 18% 15% 27.57 26.72 37.85 38.4 48.5 50.13 6.35 6.86 17.79 21.04 121.8

27 Sunil Healthcare Ltd. Empty capsules 27.81 26.06 0.50 0.54 0.69 0.49 6.52 6.28 23% 24% 97.67 112.77 92.89 94.71 38.12 44.26 21.58 22.75 9.35 10.5 123.0

28 Ozone Pharmaceuticals Ltd. Drug formulations 65.57 66.66 0.44 0.48 2.30 2.48 9.56 8.2 15% 12% 39.16 37.27 48.41 40.99 68.3 75.95 0.84 0.71 41.39 31.47 124.1

29 Mangalam Drugs & Organics Ltd. Drugs, medicines & allied products 83.9 91.8 0.81 0.92 1.99 2.38 5.91 6.84 7% 7% 101.72 92.44 54.35 43.4 27.17 24.51 18.44 13.59 23.57 28.22 124.4

30 Everest Organics Ltd. Drug formulations 13.69 20.47 0.75 0.77 0.76 1.22 1.39 2.31 10% 11% 64.87 58.7 159.91 139.48 32.24 24.4 11.81 9.02 9.61 5 124.5

31 Medicamen Biotech Ltd. Drug formulations 56.96 77.34 0.73 0.69 2.74 3.06 3.17 4.29 6% 6% 96.62 87.24 144.18 126.45 53.28 43.38 5.76 7.77 11.62 8.11 124.9

32 Makers Laboratories Ltd. Drug formulations 44.04 47.88 0.85 0.75 5.61 11.49 2.48 1.23 6% 3% 37.13 40.25 27.02 35.53 34.41 29.6 6.5 4.59 38.22 38.32 127.1

33 Ssl-Ttk Ltd. Other pharmaceutical products, nec 111.31 118.63 0.72 0.61 3.60 2.91 -0.86 12.33 -1% 10% 41.4 69.18 50.53 81.63 98.34 94.46 2.41 2.62 16.07 8.62 127.5

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

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2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

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34 N G L Fine-Chem Ltd. Pharmaceutical products, nec 19.41 12.72 0.61 0.71 2.00 1.38 3.19 1.14 16% 9% 76.81 117.89 73.89 63.41 33.89 46.72 34.5 61.21 3.5 5.14 128.9

35 Malladi Drugs & Pharmaceuticals Ltd. Ephedrines 107.96 138.84 0.61 0.63 1.04 1.38 19.51 23.96 18% 17% 86.53 95.83 108.02 115.99 36.93 34.98 77.72 68.63 14.21 5.57 130.5

36 S M S Pharmaceuticals Ltd. Drugs, medicines & allied products 169.55 210.81 0.73 0.76 1.68 1.02 47.08 49 28% 23% 96.59 81.02 39.26 41.04 38.18 41.82 59.97 73.4 6.13 8.45 131.1

37 Alpa Laboratories Ltd. Drugs, medicines & allied products 100.78 136.85 0.79 0.91 3.76 2.39 10.36 12.35 10% 9% 88.09 68.12 44.31 87.49 37.03 35.98 6.04 8.87 9.64 13.16 133.0

38 Indoco Remedies Ltd. Drug formulations 247.31 264.15 0.47 0.48 1.07 0.73 50.43 47.24 20% 18% 106.72 142.3 72.73 80.92 61.87 74.17 5.81 7.57 24.76 31.66 134.8

39 Chemcel Biotech Ltd. Amino acid liquids 23.35 24.53 0.04 0.04 0.79 0.79 2.19 2.85 9% 12% 134.72 162.53 100.62 126.31 11406.25 3528.33 1.24 1.04 9.17 10.92 135.5

40 Amol Pharmaceuticals Pvt. Ltd. Pharmaceutical products, nec 48.26 51.14 0.95 0.66 8.33 2.10 3.82 5.16 8% 10% NA 142.96 105.42 146.05 NA 80.82 NA 5.86 NA 11.1 135.5

41 Group Pharmaceuticals Ltd. Drug formulations 34.1 40.79 0.53 0.44 1.83 1.88 3.52 3.61 10% 9% 52.13 48.7 67.72 64.85 53.38 53.46 15.79 12.46 21.33 18.83 135.6

42 Parenteral Drugs (India) Ltd. Drug formulations 169.55 210.35 0.57 0.62 1.29 1.26 16.85 39.2 10% 19% 83.02 93.23 85.38 74.67 31.76 41.91 5.18 9.04 36.42 42.74 135.8

43 Welcure Drugs & Pharmaceuticals Ltd. Drug formulations 20.07 26.44 0.81 0.91 2.61 4.08 0.04 -1.03 0% -4% 99.55 111.96 125.86 103.69 87.08 128.22 3.47 3.59 11.56 3.46 140.6

44 Rusan Pharma Ltd. CNS stimulant formulations 54.73 81.14 0.33 0.48 1.03 1.12 14.65 21.21 27% 26% 162.08 170.77 125.33 142.68 107.41 84.56 25.88 31.91 9.7 8.34 141.6

45 Anu'S Laboratories Ltd. Drugs, medicines & allied products 104.01 145.02 0.75 0.83 3.18 4.51 21.71 35.58 21% 25% 18.72 32.85 49.6 35.63 38.31 25.42 91.35 102.49 13.47 19.82 142.5

46 Bafna Pharmaceuticals Ltd. Drug formulations 34.5 39.6 0.88 0.87 1.19 1.07 1.86 2.11 5% 5% 116.59 129 274.25 132.99 68.32 34.34 15.92 20.52 9.68 10.59 143.4

47 T T K Healthcare Ltd. Drug formulations 211.49 200.86 0.68 0.68 5.01 7.59 10.26 25.86 5% 13% 34.41 36.51 61.38 69.46 58.1 71.68 7.22 6.9 15.8 20.08 143.4

48 East India Pharmaceutical Works Ltd. Drug formulations 77.82 88.37 0.51 0.50 2.89 2.90 5.87 7.92 8% 9% 57.33 61.36 66.78 77.52 59.63 58.14 1.84 2.56 57.6 52.25 144.4

49 Fulford (India) Ltd. Drug formulations 143.15 165.89 0.72 0.64 26.82 30.64 21.12 35.17 15% 21% 22.75 22.32 35.52 47.56 67.94 84.24 2.42 2.44 36.31 45.13 144.8

50 Themis Medicare Ltd. Drug formulations 167.68 220.79 0.74 0.67 1.80 1.97 20.27 25.6 12% 12% 92.66 98.57 144.77 107.19 55.66 55.61 16.36 27.09 19.8 11.4 145.4

51 Hester Biosciences Ltd. Drugs, medicines & allied products 21.2 31.69 0.57 0.32 0.34 0.25 8.98 17.08 42% 54% 151.65 113.28 144.31 73.21 15.94 16.94 53.61 112.89 42.62 45.85 145.5

52 Zydus Animal Health Ltd. Antibiotics 85.96 95.03 0.59 0.49 1.94 2.55 20.83 23.04 24% 24% 45.45 42.37 135.48 60.76 177.99 91.49 8.22 5.67 47.14 40.53 146.8

53 Sandu Pharmaceuticals Ltd. Ayurvedic & unani medicaments 11.89 13.44 0.29 0.26 0.50 0.50 1.78 1.42 15% 11% 182.8 189.95 15.98 20.02 57.82 80.32 16.77 34.32 41.48 30.39 148.2

54 Jagsonpal Pharmaceuticals Ltd. Drug formulations 129.34 150.1 0.61 0.62 1.79 2.01 11.94 13.24 9% 9% 103.16 100.32 38.12 27.31 65.96 39.19 46.41 24.7 81.63 55.92 148.2

55 Endo Labs Ltd. Drugs, medicines & allied products 26.29 27.52 0.69 0.61 2.22 2.01 1.66 2.07 6% 8% 77.58 108.84 83.85 111.92 47.31 62.77 11.51 19.69 17.08 14.32 148.9

56 Ahlcon Parenterals (India) Ltd. Drug formulations 49.15 45.97 0.47 0.51 0.73 0.58 15.01 13.22 31% 29% 41.48 46.08 52.37 50.44 81.5 98.2 5.39 9.33 10.06 16.66 149.5

57 Lincoln Pharmaceuticals Ltd. Drug formulations 62.96 86.25 0.62 0.60 4.26 4.30 6.05 9.15 10% 11% 106.67 75.98 59.61 51.62 38.04 54.09 21.04 27.9 48.47 36.54 150.2

58 Transchem Ltd. Drugs, medicines & allied products 78.42 30.11 0.61 0.65 1.49 1.09 4.18 8.24 5% 27% 52.54 89.18 86.45 20.61 72.78 118.93 7.05 12.78 18.81 30.41 151.3

59 P I Drugs & Pharmaceuticals Ltd. Drugs, medicines & allied products 39.98 67.7 0.60 0.62 1.74 1.04 10.3 6.87 26% 10% 71.79 71.7 53.72 114.75 46.13 69.26 10.47 11.96 3.7 9.5 152.8

60 Indian Immunologicals Ltd. Vaccines 156.92 191.96 0.37 0.35 0.79 0.98 38.49 57.84 25% 30% 79.28 111.87 87.79 93.8 89.55 88.61 5.83 22.92 13.17 23.11 153.0

61 Alved Pharma & Foods Pvt. Ltd. Pharmaceutical products, nec 15.14 15.03 0.53 0.52 10.32 10.82 1.02 -1.54 7% -10% NA 78.2 82.52 102.56 NA 59.15 NA 6.81 NA 45.06 153.7

62 Advik Laboratories Ltd. Drug formulations 8.73 10.24 0.86 1.18 1.40 2.42 0.69 0.23 8% 2% 175.41 169.5 113.39 68.72 47.51 29.45 16.73 19.78 35.4 60.78 156.3

63 Organon (India) Ltd. Drug formulations 196.11 156.92 0.29 0.49 5.17 8.25 27.24 27.61 14% 18% 37.31 34.41 41.44 74.7 114.54 87.76 21.03 15.96 23.7 27.01 156.4

64 Lyka Labs Ltd. Drug formulations 118.08 94.16 0.84 0.78 1.63 1.08 -8.52 10.68 -7% 11% 132 114.13 155.23 174.02 49.98 78.81 8.73 15.38 3.92 8.72 156.9

65 Vivimed Labs Ltd. Drugs, medicines & allied products 125.49 155.03 0.76 0.67 1.71 1.08 24.85 28.81 20% 19% 80.2 104.7 57.89 54.3 49.96 75.76 29.4 28.73 25.68 31.1 158.0

66 Win-Medicare Pvt. Ltd. Drug formulations 249.15 286.23 0.55 0.56 12.25 13.15 28.26 31.85 11% 11% NA 35.83 74.42 68.67 NA 120.28 NA 3.38 NA 36.04 159.3

67 Lekar Pharma Ltd. Drug formulations 20.69 25.4 0.97 0.64 23.38 21.61 0.84 2.58 4% 10% 7.48 5.62 106.23 53.13 63.14 64.91 5.29 6.04 53.42 52.37 159.6

68 Resonance Specialties Ltd. Drug formulations 18.87 20.71 0.66 0.59 0.68 0.63 3.28 3.23 17% 16% 65.08 60.15 92.07 65.31 28.42 59.23 99.04 83.45 12.48 10.74 159.8

69 Concept Pharmaceuticals Ltd. Drug formulations 83.92 103.68 0.68 0.68 2.26 2.68 7.21 8.59 9% 8% NA 121.22 64.28 60.9 NA 67.86 NA 38.27 NA 35.52 162.8

70 Fermenta Biotech Ltd. Drugs, medicines & allied products 27.39 31.23 0.46 0.53 1.30 1.00 5.93 6.81 22% 22% 121.99 130.21 41.46 82.67 88.15 83.42 58.2 51.26 24.18 28.63 162.9

71 Karnataka Antibiotics & Pharmaceuticals Ltd. Drug formulations 121.69 186.94 0.79 0.86 4.17 6.41 7.89 10.86 6% 6% 69.16 79.56 109.2 147.35 49.16 50.35 10.8 11.18 35.67 28.41 163.9

72 Jenburkt Pharmaceuticals Ltd. Drug formulations 35.7 38.71 0.67 0.59 3.79 3.74 3.57 3.75 10% 10% 49.13 46.07 83.58 65.09 89.44 104.34 0.97 0.7 47.78 53.97 165.5

73 Bayer Polychem (India) Ltd. Drugs, medicines & allied products 11.18 43.27 0.50 0.77 6.75 1.54 -1.22 -6.59 -11% -15% 47.55 28.72 64.92 74.55 78.21 61.11 1.41 3.13 39.4 32.38 166.3

74 Nagarjuna Herbal Concentrates Ltd. Ayurvedic & unani medicaments 21.59 26.09 0.56 0.62 2.88 3.95 1.68 1.09 8% 4% NA 71.67 80.76 79.54 NA 35.06 NA 22.55 NA 62.68 167.8

75 Suven Life Sciences Ltd. Drugs, medicines & allied products 113.02 120.25 0.50 0.51 0.56 0.54 17.18 15.39 15% 13% 49.93 78.47 48.66 70.39 51.64 56.22 42.84 38.2 36.57 32.77 169.9

76 Smruthi Organics Ltd. Drugs, medicines & allied products 53.59 54.18 0.89 0.88 1.90 1.93 8.55 8.56 16% 16% 65.33 75.45 97.27 96.47 53 58.98 125.25 168.56 6.33 10.73 170.3

77 Flamingo Pharmaceuticals Ltd. Drug formulations 122.72 146.49 0.79 0.73 2.08 2.08 13.22 15.59 11% 11% NA 88.44 88.2 102.2 NA 95.95 NA 21.7 NA 13.44 170.3

78 Gujarat Terce Laboratories Ltd. Drug formulations 10.6 12.5 0.74 0.66 4.15 4.65 0.61 0.63 6% 5% 139.01 109.56 81.5 92.68 74.87 790.83 1.29 1.23 46.83 51.1 172.6

79 Ambalal Sarabhai Enterprises Ltd. Drug formulations 90.56 62.59 0.98 1.22 0.97 0.89 -13.17 45.17 -15% 72% 117.26 190.69 450.13 558.54 98.5 127.13 16.79 23.79 11.13 9.13 173.9

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers94

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 97: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 95

34 N G L Fine-Chem Ltd. Pharmaceutical products, nec 19.41 12.72 0.61 0.71 2.00 1.38 3.19 1.14 16% 9% 76.81 117.89 73.89 63.41 33.89 46.72 34.5 61.21 3.5 5.14 128.9

35 Malladi Drugs & Pharmaceuticals Ltd. Ephedrines 107.96 138.84 0.61 0.63 1.04 1.38 19.51 23.96 18% 17% 86.53 95.83 108.02 115.99 36.93 34.98 77.72 68.63 14.21 5.57 130.5

36 S M S Pharmaceuticals Ltd. Drugs, medicines & allied products 169.55 210.81 0.73 0.76 1.68 1.02 47.08 49 28% 23% 96.59 81.02 39.26 41.04 38.18 41.82 59.97 73.4 6.13 8.45 131.1

37 Alpa Laboratories Ltd. Drugs, medicines & allied products 100.78 136.85 0.79 0.91 3.76 2.39 10.36 12.35 10% 9% 88.09 68.12 44.31 87.49 37.03 35.98 6.04 8.87 9.64 13.16 133.0

38 Indoco Remedies Ltd. Drug formulations 247.31 264.15 0.47 0.48 1.07 0.73 50.43 47.24 20% 18% 106.72 142.3 72.73 80.92 61.87 74.17 5.81 7.57 24.76 31.66 134.8

39 Chemcel Biotech Ltd. Amino acid liquids 23.35 24.53 0.04 0.04 0.79 0.79 2.19 2.85 9% 12% 134.72 162.53 100.62 126.31 11406.25 3528.33 1.24 1.04 9.17 10.92 135.5

40 Amol Pharmaceuticals Pvt. Ltd. Pharmaceutical products, nec 48.26 51.14 0.95 0.66 8.33 2.10 3.82 5.16 8% 10% NA 142.96 105.42 146.05 NA 80.82 NA 5.86 NA 11.1 135.5

41 Group Pharmaceuticals Ltd. Drug formulations 34.1 40.79 0.53 0.44 1.83 1.88 3.52 3.61 10% 9% 52.13 48.7 67.72 64.85 53.38 53.46 15.79 12.46 21.33 18.83 135.6

42 Parenteral Drugs (India) Ltd. Drug formulations 169.55 210.35 0.57 0.62 1.29 1.26 16.85 39.2 10% 19% 83.02 93.23 85.38 74.67 31.76 41.91 5.18 9.04 36.42 42.74 135.8

43 Welcure Drugs & Pharmaceuticals Ltd. Drug formulations 20.07 26.44 0.81 0.91 2.61 4.08 0.04 -1.03 0% -4% 99.55 111.96 125.86 103.69 87.08 128.22 3.47 3.59 11.56 3.46 140.6

44 Rusan Pharma Ltd. CNS stimulant formulations 54.73 81.14 0.33 0.48 1.03 1.12 14.65 21.21 27% 26% 162.08 170.77 125.33 142.68 107.41 84.56 25.88 31.91 9.7 8.34 141.6

45 Anu'S Laboratories Ltd. Drugs, medicines & allied products 104.01 145.02 0.75 0.83 3.18 4.51 21.71 35.58 21% 25% 18.72 32.85 49.6 35.63 38.31 25.42 91.35 102.49 13.47 19.82 142.5

46 Bafna Pharmaceuticals Ltd. Drug formulations 34.5 39.6 0.88 0.87 1.19 1.07 1.86 2.11 5% 5% 116.59 129 274.25 132.99 68.32 34.34 15.92 20.52 9.68 10.59 143.4

47 T T K Healthcare Ltd. Drug formulations 211.49 200.86 0.68 0.68 5.01 7.59 10.26 25.86 5% 13% 34.41 36.51 61.38 69.46 58.1 71.68 7.22 6.9 15.8 20.08 143.4

48 East India Pharmaceutical Works Ltd. Drug formulations 77.82 88.37 0.51 0.50 2.89 2.90 5.87 7.92 8% 9% 57.33 61.36 66.78 77.52 59.63 58.14 1.84 2.56 57.6 52.25 144.4

49 Fulford (India) Ltd. Drug formulations 143.15 165.89 0.72 0.64 26.82 30.64 21.12 35.17 15% 21% 22.75 22.32 35.52 47.56 67.94 84.24 2.42 2.44 36.31 45.13 144.8

50 Themis Medicare Ltd. Drug formulations 167.68 220.79 0.74 0.67 1.80 1.97 20.27 25.6 12% 12% 92.66 98.57 144.77 107.19 55.66 55.61 16.36 27.09 19.8 11.4 145.4

51 Hester Biosciences Ltd. Drugs, medicines & allied products 21.2 31.69 0.57 0.32 0.34 0.25 8.98 17.08 42% 54% 151.65 113.28 144.31 73.21 15.94 16.94 53.61 112.89 42.62 45.85 145.5

52 Zydus Animal Health Ltd. Antibiotics 85.96 95.03 0.59 0.49 1.94 2.55 20.83 23.04 24% 24% 45.45 42.37 135.48 60.76 177.99 91.49 8.22 5.67 47.14 40.53 146.8

53 Sandu Pharmaceuticals Ltd. Ayurvedic & unani medicaments 11.89 13.44 0.29 0.26 0.50 0.50 1.78 1.42 15% 11% 182.8 189.95 15.98 20.02 57.82 80.32 16.77 34.32 41.48 30.39 148.2

54 Jagsonpal Pharmaceuticals Ltd. Drug formulations 129.34 150.1 0.61 0.62 1.79 2.01 11.94 13.24 9% 9% 103.16 100.32 38.12 27.31 65.96 39.19 46.41 24.7 81.63 55.92 148.2

55 Endo Labs Ltd. Drugs, medicines & allied products 26.29 27.52 0.69 0.61 2.22 2.01 1.66 2.07 6% 8% 77.58 108.84 83.85 111.92 47.31 62.77 11.51 19.69 17.08 14.32 148.9

56 Ahlcon Parenterals (India) Ltd. Drug formulations 49.15 45.97 0.47 0.51 0.73 0.58 15.01 13.22 31% 29% 41.48 46.08 52.37 50.44 81.5 98.2 5.39 9.33 10.06 16.66 149.5

57 Lincoln Pharmaceuticals Ltd. Drug formulations 62.96 86.25 0.62 0.60 4.26 4.30 6.05 9.15 10% 11% 106.67 75.98 59.61 51.62 38.04 54.09 21.04 27.9 48.47 36.54 150.2

58 Transchem Ltd. Drugs, medicines & allied products 78.42 30.11 0.61 0.65 1.49 1.09 4.18 8.24 5% 27% 52.54 89.18 86.45 20.61 72.78 118.93 7.05 12.78 18.81 30.41 151.3

59 P I Drugs & Pharmaceuticals Ltd. Drugs, medicines & allied products 39.98 67.7 0.60 0.62 1.74 1.04 10.3 6.87 26% 10% 71.79 71.7 53.72 114.75 46.13 69.26 10.47 11.96 3.7 9.5 152.8

60 Indian Immunologicals Ltd. Vaccines 156.92 191.96 0.37 0.35 0.79 0.98 38.49 57.84 25% 30% 79.28 111.87 87.79 93.8 89.55 88.61 5.83 22.92 13.17 23.11 153.0

61 Alved Pharma & Foods Pvt. Ltd. Pharmaceutical products, nec 15.14 15.03 0.53 0.52 10.32 10.82 1.02 -1.54 7% -10% NA 78.2 82.52 102.56 NA 59.15 NA 6.81 NA 45.06 153.7

62 Advik Laboratories Ltd. Drug formulations 8.73 10.24 0.86 1.18 1.40 2.42 0.69 0.23 8% 2% 175.41 169.5 113.39 68.72 47.51 29.45 16.73 19.78 35.4 60.78 156.3

63 Organon (India) Ltd. Drug formulations 196.11 156.92 0.29 0.49 5.17 8.25 27.24 27.61 14% 18% 37.31 34.41 41.44 74.7 114.54 87.76 21.03 15.96 23.7 27.01 156.4

64 Lyka Labs Ltd. Drug formulations 118.08 94.16 0.84 0.78 1.63 1.08 -8.52 10.68 -7% 11% 132 114.13 155.23 174.02 49.98 78.81 8.73 15.38 3.92 8.72 156.9

65 Vivimed Labs Ltd. Drugs, medicines & allied products 125.49 155.03 0.76 0.67 1.71 1.08 24.85 28.81 20% 19% 80.2 104.7 57.89 54.3 49.96 75.76 29.4 28.73 25.68 31.1 158.0

66 Win-Medicare Pvt. Ltd. Drug formulations 249.15 286.23 0.55 0.56 12.25 13.15 28.26 31.85 11% 11% NA 35.83 74.42 68.67 NA 120.28 NA 3.38 NA 36.04 159.3

67 Lekar Pharma Ltd. Drug formulations 20.69 25.4 0.97 0.64 23.38 21.61 0.84 2.58 4% 10% 7.48 5.62 106.23 53.13 63.14 64.91 5.29 6.04 53.42 52.37 159.6

68 Resonance Specialties Ltd. Drug formulations 18.87 20.71 0.66 0.59 0.68 0.63 3.28 3.23 17% 16% 65.08 60.15 92.07 65.31 28.42 59.23 99.04 83.45 12.48 10.74 159.8

69 Concept Pharmaceuticals Ltd. Drug formulations 83.92 103.68 0.68 0.68 2.26 2.68 7.21 8.59 9% 8% NA 121.22 64.28 60.9 NA 67.86 NA 38.27 NA 35.52 162.8

70 Fermenta Biotech Ltd. Drugs, medicines & allied products 27.39 31.23 0.46 0.53 1.30 1.00 5.93 6.81 22% 22% 121.99 130.21 41.46 82.67 88.15 83.42 58.2 51.26 24.18 28.63 162.9

71 Karnataka Antibiotics & Pharmaceuticals Ltd. Drug formulations 121.69 186.94 0.79 0.86 4.17 6.41 7.89 10.86 6% 6% 69.16 79.56 109.2 147.35 49.16 50.35 10.8 11.18 35.67 28.41 163.9

72 Jenburkt Pharmaceuticals Ltd. Drug formulations 35.7 38.71 0.67 0.59 3.79 3.74 3.57 3.75 10% 10% 49.13 46.07 83.58 65.09 89.44 104.34 0.97 0.7 47.78 53.97 165.5

73 Bayer Polychem (India) Ltd. Drugs, medicines & allied products 11.18 43.27 0.50 0.77 6.75 1.54 -1.22 -6.59 -11% -15% 47.55 28.72 64.92 74.55 78.21 61.11 1.41 3.13 39.4 32.38 166.3

74 Nagarjuna Herbal Concentrates Ltd. Ayurvedic & unani medicaments 21.59 26.09 0.56 0.62 2.88 3.95 1.68 1.09 8% 4% NA 71.67 80.76 79.54 NA 35.06 NA 22.55 NA 62.68 167.8

75 Suven Life Sciences Ltd. Drugs, medicines & allied products 113.02 120.25 0.50 0.51 0.56 0.54 17.18 15.39 15% 13% 49.93 78.47 48.66 70.39 51.64 56.22 42.84 38.2 36.57 32.77 169.9

76 Smruthi Organics Ltd. Drugs, medicines & allied products 53.59 54.18 0.89 0.88 1.90 1.93 8.55 8.56 16% 16% 65.33 75.45 97.27 96.47 53 58.98 125.25 168.56 6.33 10.73 170.3

77 Flamingo Pharmaceuticals Ltd. Drug formulations 122.72 146.49 0.79 0.73 2.08 2.08 13.22 15.59 11% 11% NA 88.44 88.2 102.2 NA 95.95 NA 21.7 NA 13.44 170.3

78 Gujarat Terce Laboratories Ltd. Drug formulations 10.6 12.5 0.74 0.66 4.15 4.65 0.61 0.63 6% 5% 139.01 109.56 81.5 92.68 74.87 790.83 1.29 1.23 46.83 51.1 172.6

79 Ambalal Sarabhai Enterprises Ltd. Drug formulations 90.56 62.59 0.98 1.22 0.97 0.89 -13.17 45.17 -15% 72% 117.26 190.69 450.13 558.54 98.5 127.13 16.79 23.79 11.13 9.13 173.9

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

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80 Ontop Pharmaceuticals Ltd. Drugs, medicines & allied products 9.57 14.07 0.54 0.70 0.80 1.52 1.01 1.38 11% 10% 2.87 6.2 133.87 143.71 58.22 61.15 8.81 16.27 6.09 10.56 174.5

81 Albert David Ltd. Drug formulations 138.72 156.21 0.48 0.41 1.21 0.88 28 22.76 20% 15% 36.31 40.3 80.77 68.76 84.26 88.31 10.74 10.2 35.49 44.51 176.7

82 Fresenius Kabi Oncology Ltd. Drug formulations 301.98 255.54 0.43 0.34 0.80 0.44 41.36 168.72 14% 66% 59.68 112.18 70.53 76.36 112.85 159.49 55.7 87.75 20.85 24.43 179.7

83 Elder Health Care Ltd. Drug formulations 49.59 68.88 0.71 0.65 4.63 3.16 2.32 3.1 5% 5% 37.86 33.64 129.68 125.09 109.83 68.48 16.77 5.82 48.75 42.22 182.1

84 Neuland Laboratories Ltd. Salbutamol 206.1 222.49 0.77 0.73 2.41 1.37 20.6 23.56 10% 11% 62.95 78.63 82.02 110.73 58.54 61.39 19.85 18.3 31.72 39.23 182.8

85 Sven Genetech Ltd. Amino acid liquids 17.14 24.4 0.45 0.36 0.13 0.09 6.68 10.27 39% 42% 73.11 77.67 36.41 37.32 82.52 88.42 77.17 87.02 39.2 44.03 183.5

86 Coral Laboratories Ltd. Drug formulations 30.45 32.98 0.46 0.57 0.68 0.77 7.22 5.37 24% 16% 36.69 38.89 106.27 86.29 97.65 101.56 11.69 10.78 28.66 31.7 184.6

87 A B L Biotechnologies Ltd. Empty capsules 10.84 17 0.42 0.64 0.34 0.73 3.11 3.17 29% 19% 79.85 96.67 148.69 153.63 89.6 133.37 52.08 64.42 7.16 6.23 185.6

88 Medley Pharmaceuticals Ltd. Drug formulations 142.73 167.18 0.47 0.62 1.19 1.55 21.68 16.82 15% 10% NA 54.98 82.01 95.79 NA 81.61 NA 7.22 NA 52.59 186.3

89 Ajanta Pharma Ltd. Drug formulations 238.58 285.16 0.66 0.61 2.27 1.48 38.54 49.39 16% 17% 107.11 99.39 60.19 54.57 56.34 114.36 21.61 28.46 53.36 62.29 186.3

90 Hiran Orgochem Ltd. Drugs, medicines & allied products 109.02 121.92 1.04 0.79 3.53 2.53 9.02 13.17 8% 11% 58.41 66.26 91.29 160.73 59.7 77.96 307.08 251.27 5.41 5.67 188.4

91 Hindustan Antibiotics Ltd. Drugs, medicines & allied products 74.86 98.92 0.68 0.97 0.74 1.54 215.52 -4.83 288% -5% 148.46 137.46 216.78 208.39 97.91 68.2 14.47 17.59 22.91 32.03 188.7

92 Alchem International Ltd. Drugs, medicines & allied products 87.8 109.32 0.70 0.66 2.33 2.30 12.72 13.7 14% 13% NA 55.24 136.64 129.47 NA 101.35 NA 244.31 NA 5.62 191.7

93 Pure Pharma Ltd. Drugs, medicines & allied products 19.69 15.64 0.55 0.50 1.92 1.44 1.72 2.09 9% 13% 195.56 271.63 107.78 122.78 92.03 136.16 15.69 63.97 42.75 39.04 193.0

94 Natco Pharma Ltd. Drug formulations 184.92 236.31 0.57 0.52 0.65 0.61 55.45 67 30% 28% 61.53 52.07 136.81 123.92 86.42 89.74 68.34 74.09 14.43 15.53 193.3

95 Krebs Biochemicals & Inds. Ltd. Drug formulations 47.14 49.43 0.64 0.67 0.29 0.34 11.96 8.86 25% 18% 203.47 184.24 142.72 101.17 156.1 179.98 425.71 383.09 19.17 13.04 194.0

96 Span Diagnostics Ltd. Drugs, medicines & allied products 53.32 61.32 0.61 0.50 2.12 1.62 6.01 9.01 11% 15% 71.32 70.64 125.12 105.5 179.14 175.91 18.55 15.31 55.16 49.34 195.3

97 Wintac Ltd. Drug formulations 12.45 14.97 0.59 0.62 0.39 0.46 2.41 1.44 19% 10% 63.55 68.91 176.54 146.26 123.53 89.59 24.19 23.29 16.2 13.07 195.5

98 Morepen Laboratories Ltd. Drugs, medicines & allied products 127.07 122.92 0.82 0.83 0.18 0.19 -112.65 7.8 -89% 6% 394.48 30.36 240.48 175.06 194.36 42.14 32.03 18.59 33.92 16.83 196.6

99 Bal Pharma Ltd. Drug formulations 70.65 85.41 0.63 0.58 1.35 1.10 8.75 10.41 12% 12% 105.26 91.04 78.65 92.76 116.22 98.99 32.53 38.75 54.92 45.97 200.9

100 Gufic Biosciences Ltd. Drug formulations 53.48 54.88 0.66 0.61 1.50 2.08 5.92 5.25 11% 10% 69.71 65.82 99.19 93.19 209.04 215.26 34.68 30.07 34.64 30.41 203.0

101 Panchsheel Organics Ltd. Drugs, medicines & allied products 18.74 18.02 0.91 0.76 2.71 2.01 1.43 2.04 8% 11% 116.78 129.34 161.88 116.72 93.86 102.05 26.33 36.82 46.22 49.02 203.5

102 Emmellen Biotech Pharmaceuticals Ltd. Ephedrines 52.7 56.82 0.69 0.66 1.47 1.59 7.79 1.92 15% 3% NA 70.77 76.53 124.69 NA 81.96 NA 175.85 NA 16.17 207.1

103 Tonira Pharma Ltd. Drug formulations 36.61 32.5 0.70 0.75 0.92 0.92 6.9 -5.27 19% -16% 46.2 51.85 80.05 99.42 49.73 69.08 126.64 133.25 23.87 14.78 208.8

104 Bharat Serums & Vaccines Ltd. Drugs, medicines & allied products 147.06 140.47 0.52 0.45 0.72 0.47 38.66 30.73 26% 22% 51.68 59.1 88.25 106.33 68.02 107.46 51.28 64.39 31.62 35.09 208.8

105 Kudos Chemie Ltd. Caffeine & its salts 78.32 105.91 0.91 0.91 1.06 0.82 18.25 36.32 23% 34% 46.61 36.58 41.93 61.58 37.16 80.73 149.54 177.74 31.88 40.32 212.5

106 Kerala Ayurveda Ltd. Ayurvedic & unani medicaments 15.43 17.28 0.59 0.57 0.63 0.70 0.36 -2.73 2% -16% 71.4 86.98 75.43 68.95 68.54 73.92 57.19 132.85 71.04 60.86 212.7

107 Troikaa Pharmaceuticals Ltd. Drugs, medicines & allied products 58.57 75.64 0.49 0.60 0.91 0.92 8.56 12.39 15% 16% 38.43 40.25 110.53 118.67 77.3 80.24 19.41 24.76 54.86 67.84 213.0

108 Capsugel Healthcare Ltd. Empty capsules 20.59 11.04 0.81 1.42 0.32 0.28 -6.21 -21.81 -30% -198% 74.84 83.57 109 210.48 77.4 94.25 15.92 16.23 25.83 21.9 216.7

109 Marksans Pharma Ltd. Drugs, medicines & allied products 242.39 246.71 1.10 0.87 1.93 1.04 30.82 39.56 13% 16% 79.26 81.68 60.98 73.19 149.13 202.43 24.76 36.81 98.06 147.52 223.4

110 Z C L Chemicals Ltd. Drugs, medicines & allied products 44.46 31.82 0.78 0.70 4.35 0.63 4.31 1.67 10% 5% 27.09 16.07 68.53 153.61 28.92 51.3 40.83 60.38 29.46 38.39 224.9

111 B D H Industries Ltd. Drug formulations 20.05 14.97 0.73 0.63 0.93 0.58 2.38 1.93 12% 13% 156 200.09 104.04 149.22 145.84 249.55 92.47 121.77 33.66 49.97 228.7

112 Arch Life Sciences Ltd. Drugs, medicines & allied products 11.22 24.27 1.27 0.87 1.07 0.73 1.9 2.5 17% 10% 61.21 51.55 135.47 190.96 59.17 103.43 33.61 61.97 47.04 35.89 243.3

1 Elgi Ultra Inds. Ltd. Grinders & mixers 55.91 65.64 0.70 0.71 10.65 7.35 2.57 3.37 5% 5% 47.97 49.37 55.54 54.45 23.48 25.38 4.64 4.9 2.89 1.67 24.5

2 Nippo Batteries Co. Ltd. Dry cells 286.79 265.5 0.77 0.71 5.97 4.43 18.44 29.98 6% 11% 36.38 43.87 28.2 25.05 19.7 28.05 3.63 4.26 10.06 8.98 26.0

3 Best & Crompton Engg. Ltd. Electrical machinery, nec 112.97 90.66 0.17 0.55 0.15 0.63 52 20.53 46% 23% 11.07 52.73 191.23 104.91 20.58 20.36 7.29 10.61 0.1 1.45 26.7

4 Patels Airtemp (India) Ltd. Electric appliances 40.87 53.91 0.65 0.67 3.37 4.45 4.96 8.83 12% 16% 78.32 81.32 67.52 65.47 46.3 36.05 16.82 16.24 4.61 2.9 29.0

5 G E E Ltd. Welding machinery 39.59 73.29 0.79 0.79 2.75 4.37 3.14 6.68 8% 9% 35.13 25.68 28.99 23.22 31.46 32.76 2.57 2.6 16.51 10.2 29.6

6 Panasonic Carbon India Co. Ltd. Welding machinery 34.13 29.78 0.51 0.52 2.51 2.53 8.94 8.59 26% 29% 49.14 48.69 33.83 38.98 56.77 62.45 10.45 9.58 7.45 5.01 32.5

7 Amco Batteries Ltd. Storage batteries 109.28 159.82 0.84 0.91 35.11 50.98 3.28 5.04 3% 3% 126.85 97.91 71.6 73.35 22.73 16.08 3.28 3.48 20.19 24.06 33.0

8 Tudor India Ltd. Storage batteries 96.81 129.24 0.67 0.75 8.95 11.94 11.49 11.19 12% 9% 97.03 90.29 30.36 38.77 20.18 17.75 16.01 16.9 22.96 24.52 35.0

9 Modern Insulators Ltd. Overhead line fittings 201.23 220.74 0.49 0.57 1.86 1.52 28.23 33.46 14% 15% 44 53.85 50.95 53.75 46.33 40.03 14.04 14.11 12.38 13.8 35.7

10 Starlite Lighting Ltd. Lamps 4.08 22.69 1.08 0.85 0.20 0.91 7.27 3.37 178% 15% 214.36 54.58 305.42 55.32 104.6 36.18 16.97 8.35 14.96 10.77 37.4

11 Ador Welding Ltd. Welding electrodes / sticks / wires / fluxes 277.69 273.01 0.60 0.64 2.35 2.05 47.33 44.54 17% 16% 17.21 21.22 33.09 30.86 23.49 29.3 15.23 16.77 13.39 16.54 37.9

12 D & H Welding Electrodes (India) Ltd. Welding electrodes / sticks / wires / fluxes 29.68 37.51 0.83 0.82 4.80 5.33 4.88 4.54 16% 12% 63.76 54.3 44.9 51.67 40.85 40.34 7.94 8.15 16.79 22.9 38.7

electricAl mAchinerY

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers96

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 99: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 97

80 Ontop Pharmaceuticals Ltd. Drugs, medicines & allied products 9.57 14.07 0.54 0.70 0.80 1.52 1.01 1.38 11% 10% 2.87 6.2 133.87 143.71 58.22 61.15 8.81 16.27 6.09 10.56 174.5

81 Albert David Ltd. Drug formulations 138.72 156.21 0.48 0.41 1.21 0.88 28 22.76 20% 15% 36.31 40.3 80.77 68.76 84.26 88.31 10.74 10.2 35.49 44.51 176.7

82 Fresenius Kabi Oncology Ltd. Drug formulations 301.98 255.54 0.43 0.34 0.80 0.44 41.36 168.72 14% 66% 59.68 112.18 70.53 76.36 112.85 159.49 55.7 87.75 20.85 24.43 179.7

83 Elder Health Care Ltd. Drug formulations 49.59 68.88 0.71 0.65 4.63 3.16 2.32 3.1 5% 5% 37.86 33.64 129.68 125.09 109.83 68.48 16.77 5.82 48.75 42.22 182.1

84 Neuland Laboratories Ltd. Salbutamol 206.1 222.49 0.77 0.73 2.41 1.37 20.6 23.56 10% 11% 62.95 78.63 82.02 110.73 58.54 61.39 19.85 18.3 31.72 39.23 182.8

85 Sven Genetech Ltd. Amino acid liquids 17.14 24.4 0.45 0.36 0.13 0.09 6.68 10.27 39% 42% 73.11 77.67 36.41 37.32 82.52 88.42 77.17 87.02 39.2 44.03 183.5

86 Coral Laboratories Ltd. Drug formulations 30.45 32.98 0.46 0.57 0.68 0.77 7.22 5.37 24% 16% 36.69 38.89 106.27 86.29 97.65 101.56 11.69 10.78 28.66 31.7 184.6

87 A B L Biotechnologies Ltd. Empty capsules 10.84 17 0.42 0.64 0.34 0.73 3.11 3.17 29% 19% 79.85 96.67 148.69 153.63 89.6 133.37 52.08 64.42 7.16 6.23 185.6

88 Medley Pharmaceuticals Ltd. Drug formulations 142.73 167.18 0.47 0.62 1.19 1.55 21.68 16.82 15% 10% NA 54.98 82.01 95.79 NA 81.61 NA 7.22 NA 52.59 186.3

89 Ajanta Pharma Ltd. Drug formulations 238.58 285.16 0.66 0.61 2.27 1.48 38.54 49.39 16% 17% 107.11 99.39 60.19 54.57 56.34 114.36 21.61 28.46 53.36 62.29 186.3

90 Hiran Orgochem Ltd. Drugs, medicines & allied products 109.02 121.92 1.04 0.79 3.53 2.53 9.02 13.17 8% 11% 58.41 66.26 91.29 160.73 59.7 77.96 307.08 251.27 5.41 5.67 188.4

91 Hindustan Antibiotics Ltd. Drugs, medicines & allied products 74.86 98.92 0.68 0.97 0.74 1.54 215.52 -4.83 288% -5% 148.46 137.46 216.78 208.39 97.91 68.2 14.47 17.59 22.91 32.03 188.7

92 Alchem International Ltd. Drugs, medicines & allied products 87.8 109.32 0.70 0.66 2.33 2.30 12.72 13.7 14% 13% NA 55.24 136.64 129.47 NA 101.35 NA 244.31 NA 5.62 191.7

93 Pure Pharma Ltd. Drugs, medicines & allied products 19.69 15.64 0.55 0.50 1.92 1.44 1.72 2.09 9% 13% 195.56 271.63 107.78 122.78 92.03 136.16 15.69 63.97 42.75 39.04 193.0

94 Natco Pharma Ltd. Drug formulations 184.92 236.31 0.57 0.52 0.65 0.61 55.45 67 30% 28% 61.53 52.07 136.81 123.92 86.42 89.74 68.34 74.09 14.43 15.53 193.3

95 Krebs Biochemicals & Inds. Ltd. Drug formulations 47.14 49.43 0.64 0.67 0.29 0.34 11.96 8.86 25% 18% 203.47 184.24 142.72 101.17 156.1 179.98 425.71 383.09 19.17 13.04 194.0

96 Span Diagnostics Ltd. Drugs, medicines & allied products 53.32 61.32 0.61 0.50 2.12 1.62 6.01 9.01 11% 15% 71.32 70.64 125.12 105.5 179.14 175.91 18.55 15.31 55.16 49.34 195.3

97 Wintac Ltd. Drug formulations 12.45 14.97 0.59 0.62 0.39 0.46 2.41 1.44 19% 10% 63.55 68.91 176.54 146.26 123.53 89.59 24.19 23.29 16.2 13.07 195.5

98 Morepen Laboratories Ltd. Drugs, medicines & allied products 127.07 122.92 0.82 0.83 0.18 0.19 -112.65 7.8 -89% 6% 394.48 30.36 240.48 175.06 194.36 42.14 32.03 18.59 33.92 16.83 196.6

99 Bal Pharma Ltd. Drug formulations 70.65 85.41 0.63 0.58 1.35 1.10 8.75 10.41 12% 12% 105.26 91.04 78.65 92.76 116.22 98.99 32.53 38.75 54.92 45.97 200.9

100 Gufic Biosciences Ltd. Drug formulations 53.48 54.88 0.66 0.61 1.50 2.08 5.92 5.25 11% 10% 69.71 65.82 99.19 93.19 209.04 215.26 34.68 30.07 34.64 30.41 203.0

101 Panchsheel Organics Ltd. Drugs, medicines & allied products 18.74 18.02 0.91 0.76 2.71 2.01 1.43 2.04 8% 11% 116.78 129.34 161.88 116.72 93.86 102.05 26.33 36.82 46.22 49.02 203.5

102 Emmellen Biotech Pharmaceuticals Ltd. Ephedrines 52.7 56.82 0.69 0.66 1.47 1.59 7.79 1.92 15% 3% NA 70.77 76.53 124.69 NA 81.96 NA 175.85 NA 16.17 207.1

103 Tonira Pharma Ltd. Drug formulations 36.61 32.5 0.70 0.75 0.92 0.92 6.9 -5.27 19% -16% 46.2 51.85 80.05 99.42 49.73 69.08 126.64 133.25 23.87 14.78 208.8

104 Bharat Serums & Vaccines Ltd. Drugs, medicines & allied products 147.06 140.47 0.52 0.45 0.72 0.47 38.66 30.73 26% 22% 51.68 59.1 88.25 106.33 68.02 107.46 51.28 64.39 31.62 35.09 208.8

105 Kudos Chemie Ltd. Caffeine & its salts 78.32 105.91 0.91 0.91 1.06 0.82 18.25 36.32 23% 34% 46.61 36.58 41.93 61.58 37.16 80.73 149.54 177.74 31.88 40.32 212.5

106 Kerala Ayurveda Ltd. Ayurvedic & unani medicaments 15.43 17.28 0.59 0.57 0.63 0.70 0.36 -2.73 2% -16% 71.4 86.98 75.43 68.95 68.54 73.92 57.19 132.85 71.04 60.86 212.7

107 Troikaa Pharmaceuticals Ltd. Drugs, medicines & allied products 58.57 75.64 0.49 0.60 0.91 0.92 8.56 12.39 15% 16% 38.43 40.25 110.53 118.67 77.3 80.24 19.41 24.76 54.86 67.84 213.0

108 Capsugel Healthcare Ltd. Empty capsules 20.59 11.04 0.81 1.42 0.32 0.28 -6.21 -21.81 -30% -198% 74.84 83.57 109 210.48 77.4 94.25 15.92 16.23 25.83 21.9 216.7

109 Marksans Pharma Ltd. Drugs, medicines & allied products 242.39 246.71 1.10 0.87 1.93 1.04 30.82 39.56 13% 16% 79.26 81.68 60.98 73.19 149.13 202.43 24.76 36.81 98.06 147.52 223.4

110 Z C L Chemicals Ltd. Drugs, medicines & allied products 44.46 31.82 0.78 0.70 4.35 0.63 4.31 1.67 10% 5% 27.09 16.07 68.53 153.61 28.92 51.3 40.83 60.38 29.46 38.39 224.9

111 B D H Industries Ltd. Drug formulations 20.05 14.97 0.73 0.63 0.93 0.58 2.38 1.93 12% 13% 156 200.09 104.04 149.22 145.84 249.55 92.47 121.77 33.66 49.97 228.7

112 Arch Life Sciences Ltd. Drugs, medicines & allied products 11.22 24.27 1.27 0.87 1.07 0.73 1.9 2.5 17% 10% 61.21 51.55 135.47 190.96 59.17 103.43 33.61 61.97 47.04 35.89 243.3

1 Elgi Ultra Inds. Ltd. Grinders & mixers 55.91 65.64 0.70 0.71 10.65 7.35 2.57 3.37 5% 5% 47.97 49.37 55.54 54.45 23.48 25.38 4.64 4.9 2.89 1.67 24.5

2 Nippo Batteries Co. Ltd. Dry cells 286.79 265.5 0.77 0.71 5.97 4.43 18.44 29.98 6% 11% 36.38 43.87 28.2 25.05 19.7 28.05 3.63 4.26 10.06 8.98 26.0

3 Best & Crompton Engg. Ltd. Electrical machinery, nec 112.97 90.66 0.17 0.55 0.15 0.63 52 20.53 46% 23% 11.07 52.73 191.23 104.91 20.58 20.36 7.29 10.61 0.1 1.45 26.7

4 Patels Airtemp (India) Ltd. Electric appliances 40.87 53.91 0.65 0.67 3.37 4.45 4.96 8.83 12% 16% 78.32 81.32 67.52 65.47 46.3 36.05 16.82 16.24 4.61 2.9 29.0

5 G E E Ltd. Welding machinery 39.59 73.29 0.79 0.79 2.75 4.37 3.14 6.68 8% 9% 35.13 25.68 28.99 23.22 31.46 32.76 2.57 2.6 16.51 10.2 29.6

6 Panasonic Carbon India Co. Ltd. Welding machinery 34.13 29.78 0.51 0.52 2.51 2.53 8.94 8.59 26% 29% 49.14 48.69 33.83 38.98 56.77 62.45 10.45 9.58 7.45 5.01 32.5

7 Amco Batteries Ltd. Storage batteries 109.28 159.82 0.84 0.91 35.11 50.98 3.28 5.04 3% 3% 126.85 97.91 71.6 73.35 22.73 16.08 3.28 3.48 20.19 24.06 33.0

8 Tudor India Ltd. Storage batteries 96.81 129.24 0.67 0.75 8.95 11.94 11.49 11.19 12% 9% 97.03 90.29 30.36 38.77 20.18 17.75 16.01 16.9 22.96 24.52 35.0

9 Modern Insulators Ltd. Overhead line fittings 201.23 220.74 0.49 0.57 1.86 1.52 28.23 33.46 14% 15% 44 53.85 50.95 53.75 46.33 40.03 14.04 14.11 12.38 13.8 35.7

10 Starlite Lighting Ltd. Lamps 4.08 22.69 1.08 0.85 0.20 0.91 7.27 3.37 178% 15% 214.36 54.58 305.42 55.32 104.6 36.18 16.97 8.35 14.96 10.77 37.4

11 Ador Welding Ltd. Welding electrodes / sticks / wires / fluxes 277.69 273.01 0.60 0.64 2.35 2.05 47.33 44.54 17% 16% 17.21 21.22 33.09 30.86 23.49 29.3 15.23 16.77 13.39 16.54 37.9

12 D & H Welding Electrodes (India) Ltd. Welding electrodes / sticks / wires / fluxes 29.68 37.51 0.83 0.82 4.80 5.33 4.88 4.54 16% 12% 63.76 54.3 44.9 51.67 40.85 40.34 7.94 8.15 16.79 22.9 38.7

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 100: Reinventing the Supply Chain

13 Panasonic Energy India Co. Ltd. Dry cells 190.54 164.01 0.78 0.74 4.25 3.88 8.24 9.34 4% 6% 9.87 10.36 27.8 30.58 31.77 50.17 2.66 1.62 9.57 15.11 39.6

14 Panasonic Home Appliances India Co. Ltd. Cooking ranges 74.06 80.39 0.72 0.71 6.69 5.04 3.84 4.45 5% 6% 19.9 24.44 33.46 51.66 21.29 27.82 9.18 12.17 19.17 23.09 40.3

15 W S Industries (India) Ltd. Electrical insulators, nec 164.87 226.09 0.68 0.68 3.50 1.75 19.68 30.29 12% 13% 97.72 89.42 83.62 100.76 50.31 42.82 38.94 25.73 7.85 7.02 40.7

16 Hawkins Cookers Ltd. Cookers 173.58 204.31 0.58 0.60 7.14 8.29 14.96 20.84 9% 10% 34.96 35.67 57.09 59.25 29.13 35.08 29.07 31.91 18.76 14.95 40.8

17 Frick India Ltd. Commercial refrigerators 55.99 58.9 0.59 0.51 4.66 4.66 6.1 8.34 11% 14% 60.73 77.13 110.3 106.16 82.08 90.26 29.68 30.05 2.72 4.03 42.3

18 Dwekam Electrodes Ltd. Welding electrodes / sticks / wires / fluxes 33.77 40.02 0.72 0.67 4.70 3.16 3.22 4.67 10% 12% 31.58 23.48 45.65 29.91 52.5 55 20.1 16.44 18.22 17.92 45.5

19 J S L Industries Ltd. Electrical machinery other than electronics 23.91 27.24 0.81 0.74 2.21 2.35 1.57 1.75 7% 6% 141.36 108.85 178.34 133.13 30.08 32.65 16.09 20.58 37.44 26.09 47.4

20 Mazda Ltd. Domestic appliances (Electro-mechanical) 52.51 59.68 0.59 0.64 2.98 3.33 8.58 10.76 16% 18% 58.54 58.79 71.09 62.88 60.16 65.15 36.24 52.84 16.55 14.2 47.7

21 High Energy Batteries (India) Ltd. Storage batteries 22.48 18.47 0.58 0.72 1.89 1.56 3.08 2.27 14% 12% 117.83 146.64 117.19 136.3 277.08 333.86 17.13 27.86 0 2.76 48.0

22 Fluidomat Ltd. Electro-magnetic couplings 9.42 12.21 0.70 0.59 1.96 2.15 2.09 2.47 22% 20% 97.26 91.62 59.46 73.31 60.56 66.33 69.96 51.46 16.52 16.75 49.6

23 Hind Lamps Ltd. Electric filament or discharge lamps 66.76 78.26 0.91 0.86 2.65 3.09 -3.72 -3.49 -6% -4% 30.02 24.82 66.19 68.6 39.2 41.01 3.28 2.7 26.02 27.09 51.3

24 Kanchan International Ltd. Non-electric cooking appliances 25.48 26.85 0.90 0.79 3.84 3.75 -1.9 -4.38 -7% -16% NA 178.72 154.27 171.04 NA 50 NA 8.94 NA 29.89 51.5

25 Arklite Speciality Lamps Ltd. Fluorescent lamps 9.89 11.03 0.85 0.97 1.57 1.89 0.37 0.67 4% 6% 70.14 91.91 139.93 103.4 62.63 64.47 26.02 27.92 7.21 15.33 54.9

26 Permanent Magnets Ltd. Electro-magnets, permanent magnets, etc. 48.75 66.42 0.68 0.62 5.51 6.62 3.86 4.43 8% 7% 46.56 41.5 133.11 155.75 148.76 123.69 91.48 92.7 9.11 8.02 55.1

27 Polar Industries Ltd. Fans 45.23 91.95 1.07 1.02 3.49 7.41 -18.17 -3.14 -40% -3% 566.12 185.2 356.57 285.91 46.26 34.66 63.75 38.62 58.09 47.47 56.1

28 Webfil Ltd. Filaments / electrodes 17.22 19.4 0.67 0.69 3.71 4.63 3.23 2.37 19% 12% 232.45 205.4 159.29 123.27 412.59 322.12 185.72 157.09 29.81 26.72 57.9

29 Amco Saft India Ltd. Storage batteries 18.06 20.81 0.72 0.78 9.96 10.51 0.18 0.64 1% 3% 80.03 103.73 74.28 132.42 70.99 55.85 30.86 33.36 35.07 37.96 57.9

30 P K L Ltd. Non-electric cooking appliances 26.36 26.75 0.76 0.69 1.87 1.63 1.53 1.96 6% 7% 28.26 30.69 935.42 989.83 45.62 53.34 15.49 25.34 34.63 41.5 63.1

31 Assam Carbon Products Ltd. Carbon electrodes, blocks, etc. 41.66 28.41 0.60 0.72 1.28 1.11 7.02 -0.94 17% -3% 118.58 161.63 108.54 144.72 93.9 131.33 41 58.83 19.22 22.36 63.5

1 Panasonic A V C Networks India Co. Ltd. Television receivers, colour 131.27 135.35 0.83 0.85 10.18 12.19 6.31 8.15 5% 6% 22.22 30.18 34.18 25.76 13.28 16.68 0.53 0.3 2.69 0.71 38.2

2 Kavveri Telecom Products Ltd. Broadcasting equipment 50.44 141.02 0.69 0.82 6.50 8.62 7.86 17.63 16% 13% 143.37 93.83 174.74 52.84 11.94 5.91 0.05 0.54 28.95 9.29 38.7

3 Circuit Systems (India) Ltd. Printed circuit boards 37.94 38.69 0.59 0.56 0.90 0.60 6.24 6.65 16% 17% 109.02 122.22 63.83 49.43 54.76 69.95 11.82 12.58 0.61 0.51 45.3

4 Hind Rectifiers Ltd. Semiconductor devices 87.78 102.05 0.69 0.70 5.46 5.92 19.41 20.86 22% 20% 82 96.67 63.42 55.48 45.76 47.26 23.38 20.14 2.59 3.25 45.3

5 Lakshmi Electrical Control Systems Ltd. Control panels 70.19 119.85 0.69 0.76 2.57 5.49 15.75 24.39 22% 20% 43.33 45.28 40.53 67.77 45.91 39.15 12.1 9.1 1.21 1.47 46.2

6 T V S Electronics Ltd. Computer peripherals 271.36 207.92 0.68 0.65 5.40 5.61 18.11 25.37 7% 12% 102.5 110.08 58.94 59.53 53.33 49.38 3.77 2.21 13.4 12.67 49.4

7 Easun Reyrolle Ltd. Electronic relays 133.89 187.49 0.66 0.68 4.13 4.42 32.44 38.13 24% 20% 118.64 124.06 87.13 94.91 44.36 35.94 11.52 10.78 10.6 10.5 49.7

8 Ruttonsha International Rectifier Ltd. Semiconductor devices 11.26 14.01 0.74 0.75 6.47 8.89 1.36 1.74 12% 12% 127.24 122.24 61.3 55.75 54.88 53.46 47.03 30.64 1.16 0.83 52.6

9 Exicom Tele-Systems Ltd. Switch mode power supply systems 45.84 70.89 0.70 0.72 5.38 8.64 0.93 11.64 2% 16% 519.56 193.46 372.04 147.38 50.6 30.08 39.39 38.35 8.17 3.3 55.7

10 Krone Communications Ltd. Communication & broadcasting equipment 83.25 96.61 0.80 0.71 6.91 7.05 12.16 14.63 15% 15% 88.88 85.79 67.21 75.05 43.03 47.31 1.24 1.44 18.47 24.69 58.6

11 F C I Oen Connectors Ltd. Connectors 194.65 230.64 0.74 0.70 2.06 2.31 39.87 67.52 20% 29% 62.77 56.19 79.15 60.5 41.58 41.59 19.29 18.08 6.82 7.04 59.3

12 Tibrewala Electronics Ltd. Capacitors 47.69 49.48 0.72 0.65 1.06 1.21 7.42 10.79 16% 22% 112.23 105.55 43.35 42.29 52.34 46.03 16.53 17.93 19.19 18.03 59.5

13 Chemtrols Industries Ltd. Level sensors & indicators 75.51 151.15 0.71 0.72 3.86 6.54 6.21 11.92 8% 8% 98.54 94.61 105.19 123.45 61.68 48.75 33.83 22.07 0.56 0.15 60.7

14 Chemito Technologies Pvt. Ltd. Chromatographs 36.97 43.55 0.63 0.65 7.45 7.89 4.53 5.66 12% 13% 108.93 113.46 103.52 81.58 52.84 55.58 33.25 33.36 6.03 3.96 61.1

15 Portescap India Pvt. Ltd. Other electronic components 149.48 147.09 0.64 0.45 4.95 3.82 41.16 35.15 28% 24% NA 66.51 58.46 55.33 NA 176.38 NA 0.31 NA 14.65 63.6

16 Kaycee Industries Ltd. Rotary switches 16.32 19.97 0.74 0.71 10.30 8.22 1.21 1.53 7% 8% 93.53 91.37 71.08 88.78 41.32 30.78 13.27 15.6 19.03 14.81 63.8

17 Uniword Telecom Ltd. Amplifiers & PA systems 236.27 273.8 0.89 0.91 8.54 7.58 16.98 15.73 7% 6% 69.54 83.34 57.21 63.6 17.18 31.47 19.41 17.01 13.24 11.21 64.8

18 F C I Technology Services Ltd. Connectors 27.32 52.82 0.40 0.64 0.58 0.63 6.77 5.42 25% 10% 65.4 64.16 78.47 110.35 42.94 64.78 3.12 1 1.5 4.97 65.9

19 Poly Medicure Ltd. Medical equipment 84.73 94.32 0.56 0.56 0.91 0.90 16.88 19.06 20% 20% 39.4 47.48 61.36 61.6 65.75 83.23 9.57 12.38 4.81 6.7 67.2

20 Salzer Electronics Ltd. Rotary switches 59 70.13 0.68 0.66 1.85 1.74 9.16 11.38 16% 16% 68.1 83.41 55.41 40.16 44.94 60.69 28.7 31.1 4.64 8.63 68.4

21 Lipi Data Systems Ltd. Line printers 125.11 162.37 0.80 0.73 4.05 3.58 11.52 21.57 9% 13% 72.22 67.45 52.56 63.05 44.65 41.19 12.42 8.54 48 41.6 69.3

22 Centenial Surgical Suture Ltd. Surgical equipment 35.27 39.61 0.43 0.42 2.90 3.30 3.66 4.22 10% 11% 104.7 98.83 123.57 109.66 98.37 68.08 3 2.93 20.74 25.4 69.9

23 Ador Powertron Ltd. Industrial electronics & automation equipment 56.65 109.12 0.68 0.77 5.47 7.91 9.39 14.29 17% 13% 80.85 53.86 107.22 88.76 20.22 15.4 46.64 34.26 15.46 10.37 72.8

24 M I L Controls Ltd. Control valves 39.86 56.08 0.57 0.56 4.45 3.83 11.71 20.84 29% 37% 74.9 65.49 74.06 86.97 73.12 81.09 12.12 12.74 15.35 16.2 74.6

25 Sharp India Ltd. Television receivers 129.35 91.68 0.98 0.57 9.84 3.88 4.7 2.21 4% 2% 96.45 108.75 87.2 67.41 46.07 77.89 2.62 2.51 47.21 59.37 75.3

26 Lubi Electricals Ltd. Miscellaneous electronic equipment 73.15 85.57 0.55 0.56 5.20 5.43 5.17 6.99 7% 8% 61.45 62.2 78.16 80.79 55.41 58.88 29.62 27.08 9.28 11.2 76.3

electronics

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers98

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

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net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 99

13 Panasonic Energy India Co. Ltd. Dry cells 190.54 164.01 0.78 0.74 4.25 3.88 8.24 9.34 4% 6% 9.87 10.36 27.8 30.58 31.77 50.17 2.66 1.62 9.57 15.11 39.6

14 Panasonic Home Appliances India Co. Ltd. Cooking ranges 74.06 80.39 0.72 0.71 6.69 5.04 3.84 4.45 5% 6% 19.9 24.44 33.46 51.66 21.29 27.82 9.18 12.17 19.17 23.09 40.3

15 W S Industries (India) Ltd. Electrical insulators, nec 164.87 226.09 0.68 0.68 3.50 1.75 19.68 30.29 12% 13% 97.72 89.42 83.62 100.76 50.31 42.82 38.94 25.73 7.85 7.02 40.7

16 Hawkins Cookers Ltd. Cookers 173.58 204.31 0.58 0.60 7.14 8.29 14.96 20.84 9% 10% 34.96 35.67 57.09 59.25 29.13 35.08 29.07 31.91 18.76 14.95 40.8

17 Frick India Ltd. Commercial refrigerators 55.99 58.9 0.59 0.51 4.66 4.66 6.1 8.34 11% 14% 60.73 77.13 110.3 106.16 82.08 90.26 29.68 30.05 2.72 4.03 42.3

18 Dwekam Electrodes Ltd. Welding electrodes / sticks / wires / fluxes 33.77 40.02 0.72 0.67 4.70 3.16 3.22 4.67 10% 12% 31.58 23.48 45.65 29.91 52.5 55 20.1 16.44 18.22 17.92 45.5

19 J S L Industries Ltd. Electrical machinery other than electronics 23.91 27.24 0.81 0.74 2.21 2.35 1.57 1.75 7% 6% 141.36 108.85 178.34 133.13 30.08 32.65 16.09 20.58 37.44 26.09 47.4

20 Mazda Ltd. Domestic appliances (Electro-mechanical) 52.51 59.68 0.59 0.64 2.98 3.33 8.58 10.76 16% 18% 58.54 58.79 71.09 62.88 60.16 65.15 36.24 52.84 16.55 14.2 47.7

21 High Energy Batteries (India) Ltd. Storage batteries 22.48 18.47 0.58 0.72 1.89 1.56 3.08 2.27 14% 12% 117.83 146.64 117.19 136.3 277.08 333.86 17.13 27.86 0 2.76 48.0

22 Fluidomat Ltd. Electro-magnetic couplings 9.42 12.21 0.70 0.59 1.96 2.15 2.09 2.47 22% 20% 97.26 91.62 59.46 73.31 60.56 66.33 69.96 51.46 16.52 16.75 49.6

23 Hind Lamps Ltd. Electric filament or discharge lamps 66.76 78.26 0.91 0.86 2.65 3.09 -3.72 -3.49 -6% -4% 30.02 24.82 66.19 68.6 39.2 41.01 3.28 2.7 26.02 27.09 51.3

24 Kanchan International Ltd. Non-electric cooking appliances 25.48 26.85 0.90 0.79 3.84 3.75 -1.9 -4.38 -7% -16% NA 178.72 154.27 171.04 NA 50 NA 8.94 NA 29.89 51.5

25 Arklite Speciality Lamps Ltd. Fluorescent lamps 9.89 11.03 0.85 0.97 1.57 1.89 0.37 0.67 4% 6% 70.14 91.91 139.93 103.4 62.63 64.47 26.02 27.92 7.21 15.33 54.9

26 Permanent Magnets Ltd. Electro-magnets, permanent magnets, etc. 48.75 66.42 0.68 0.62 5.51 6.62 3.86 4.43 8% 7% 46.56 41.5 133.11 155.75 148.76 123.69 91.48 92.7 9.11 8.02 55.1

27 Polar Industries Ltd. Fans 45.23 91.95 1.07 1.02 3.49 7.41 -18.17 -3.14 -40% -3% 566.12 185.2 356.57 285.91 46.26 34.66 63.75 38.62 58.09 47.47 56.1

28 Webfil Ltd. Filaments / electrodes 17.22 19.4 0.67 0.69 3.71 4.63 3.23 2.37 19% 12% 232.45 205.4 159.29 123.27 412.59 322.12 185.72 157.09 29.81 26.72 57.9

29 Amco Saft India Ltd. Storage batteries 18.06 20.81 0.72 0.78 9.96 10.51 0.18 0.64 1% 3% 80.03 103.73 74.28 132.42 70.99 55.85 30.86 33.36 35.07 37.96 57.9

30 P K L Ltd. Non-electric cooking appliances 26.36 26.75 0.76 0.69 1.87 1.63 1.53 1.96 6% 7% 28.26 30.69 935.42 989.83 45.62 53.34 15.49 25.34 34.63 41.5 63.1

31 Assam Carbon Products Ltd. Carbon electrodes, blocks, etc. 41.66 28.41 0.60 0.72 1.28 1.11 7.02 -0.94 17% -3% 118.58 161.63 108.54 144.72 93.9 131.33 41 58.83 19.22 22.36 63.5

1 Panasonic A V C Networks India Co. Ltd. Television receivers, colour 131.27 135.35 0.83 0.85 10.18 12.19 6.31 8.15 5% 6% 22.22 30.18 34.18 25.76 13.28 16.68 0.53 0.3 2.69 0.71 38.2

2 Kavveri Telecom Products Ltd. Broadcasting equipment 50.44 141.02 0.69 0.82 6.50 8.62 7.86 17.63 16% 13% 143.37 93.83 174.74 52.84 11.94 5.91 0.05 0.54 28.95 9.29 38.7

3 Circuit Systems (India) Ltd. Printed circuit boards 37.94 38.69 0.59 0.56 0.90 0.60 6.24 6.65 16% 17% 109.02 122.22 63.83 49.43 54.76 69.95 11.82 12.58 0.61 0.51 45.3

4 Hind Rectifiers Ltd. Semiconductor devices 87.78 102.05 0.69 0.70 5.46 5.92 19.41 20.86 22% 20% 82 96.67 63.42 55.48 45.76 47.26 23.38 20.14 2.59 3.25 45.3

5 Lakshmi Electrical Control Systems Ltd. Control panels 70.19 119.85 0.69 0.76 2.57 5.49 15.75 24.39 22% 20% 43.33 45.28 40.53 67.77 45.91 39.15 12.1 9.1 1.21 1.47 46.2

6 T V S Electronics Ltd. Computer peripherals 271.36 207.92 0.68 0.65 5.40 5.61 18.11 25.37 7% 12% 102.5 110.08 58.94 59.53 53.33 49.38 3.77 2.21 13.4 12.67 49.4

7 Easun Reyrolle Ltd. Electronic relays 133.89 187.49 0.66 0.68 4.13 4.42 32.44 38.13 24% 20% 118.64 124.06 87.13 94.91 44.36 35.94 11.52 10.78 10.6 10.5 49.7

8 Ruttonsha International Rectifier Ltd. Semiconductor devices 11.26 14.01 0.74 0.75 6.47 8.89 1.36 1.74 12% 12% 127.24 122.24 61.3 55.75 54.88 53.46 47.03 30.64 1.16 0.83 52.6

9 Exicom Tele-Systems Ltd. Switch mode power supply systems 45.84 70.89 0.70 0.72 5.38 8.64 0.93 11.64 2% 16% 519.56 193.46 372.04 147.38 50.6 30.08 39.39 38.35 8.17 3.3 55.7

10 Krone Communications Ltd. Communication & broadcasting equipment 83.25 96.61 0.80 0.71 6.91 7.05 12.16 14.63 15% 15% 88.88 85.79 67.21 75.05 43.03 47.31 1.24 1.44 18.47 24.69 58.6

11 F C I Oen Connectors Ltd. Connectors 194.65 230.64 0.74 0.70 2.06 2.31 39.87 67.52 20% 29% 62.77 56.19 79.15 60.5 41.58 41.59 19.29 18.08 6.82 7.04 59.3

12 Tibrewala Electronics Ltd. Capacitors 47.69 49.48 0.72 0.65 1.06 1.21 7.42 10.79 16% 22% 112.23 105.55 43.35 42.29 52.34 46.03 16.53 17.93 19.19 18.03 59.5

13 Chemtrols Industries Ltd. Level sensors & indicators 75.51 151.15 0.71 0.72 3.86 6.54 6.21 11.92 8% 8% 98.54 94.61 105.19 123.45 61.68 48.75 33.83 22.07 0.56 0.15 60.7

14 Chemito Technologies Pvt. Ltd. Chromatographs 36.97 43.55 0.63 0.65 7.45 7.89 4.53 5.66 12% 13% 108.93 113.46 103.52 81.58 52.84 55.58 33.25 33.36 6.03 3.96 61.1

15 Portescap India Pvt. Ltd. Other electronic components 149.48 147.09 0.64 0.45 4.95 3.82 41.16 35.15 28% 24% NA 66.51 58.46 55.33 NA 176.38 NA 0.31 NA 14.65 63.6

16 Kaycee Industries Ltd. Rotary switches 16.32 19.97 0.74 0.71 10.30 8.22 1.21 1.53 7% 8% 93.53 91.37 71.08 88.78 41.32 30.78 13.27 15.6 19.03 14.81 63.8

17 Uniword Telecom Ltd. Amplifiers & PA systems 236.27 273.8 0.89 0.91 8.54 7.58 16.98 15.73 7% 6% 69.54 83.34 57.21 63.6 17.18 31.47 19.41 17.01 13.24 11.21 64.8

18 F C I Technology Services Ltd. Connectors 27.32 52.82 0.40 0.64 0.58 0.63 6.77 5.42 25% 10% 65.4 64.16 78.47 110.35 42.94 64.78 3.12 1 1.5 4.97 65.9

19 Poly Medicure Ltd. Medical equipment 84.73 94.32 0.56 0.56 0.91 0.90 16.88 19.06 20% 20% 39.4 47.48 61.36 61.6 65.75 83.23 9.57 12.38 4.81 6.7 67.2

20 Salzer Electronics Ltd. Rotary switches 59 70.13 0.68 0.66 1.85 1.74 9.16 11.38 16% 16% 68.1 83.41 55.41 40.16 44.94 60.69 28.7 31.1 4.64 8.63 68.4

21 Lipi Data Systems Ltd. Line printers 125.11 162.37 0.80 0.73 4.05 3.58 11.52 21.57 9% 13% 72.22 67.45 52.56 63.05 44.65 41.19 12.42 8.54 48 41.6 69.3

22 Centenial Surgical Suture Ltd. Surgical equipment 35.27 39.61 0.43 0.42 2.90 3.30 3.66 4.22 10% 11% 104.7 98.83 123.57 109.66 98.37 68.08 3 2.93 20.74 25.4 69.9

23 Ador Powertron Ltd. Industrial electronics & automation equipment 56.65 109.12 0.68 0.77 5.47 7.91 9.39 14.29 17% 13% 80.85 53.86 107.22 88.76 20.22 15.4 46.64 34.26 15.46 10.37 72.8

24 M I L Controls Ltd. Control valves 39.86 56.08 0.57 0.56 4.45 3.83 11.71 20.84 29% 37% 74.9 65.49 74.06 86.97 73.12 81.09 12.12 12.74 15.35 16.2 74.6

25 Sharp India Ltd. Television receivers 129.35 91.68 0.98 0.57 9.84 3.88 4.7 2.21 4% 2% 96.45 108.75 87.2 67.41 46.07 77.89 2.62 2.51 47.21 59.37 75.3

26 Lubi Electricals Ltd. Miscellaneous electronic equipment 73.15 85.57 0.55 0.56 5.20 5.43 5.17 6.99 7% 8% 61.45 62.2 78.16 80.79 55.41 58.88 29.62 27.08 9.28 11.2 76.3

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 102: Reinventing the Supply Chain

27 At & S India Pvt. Ltd. Printed circuit boards 196.89 212.93 0.69 0.67 1.62 2.09 26.97 38.43 14% 18% 30.8 32.38 79.45 87.77 105.6 97.4 13.12 10.87 5.23 5.49 76.6

28 Rexnord Electronics & Controls Ltd. Instrument cooling fans 11.56 16.13 0.55 0.68 1.53 2.51 1.58 1.9 14% 12% 85.04 75.52 129.83 123.36 62.08 38.28 104.06 91.51 9.84 5.54 76.7

29 Sulakshana Circuits Ltd. Printed circuit boards 11.11 10.75 0.73 0.71 2.05 1.94 1.63 1.8 15% 17% 121.24 127.25 107.55 85 107.13 96.08 10.71 17.7 13.08 11.54 76.8

30 Central Electronics Ltd. Solar appliances 127.64 153.82 0.84 0.87 3.44 4.40 5.88 7.04 5% 5% 104.38 127.95 109.17 140.95 50.64 35.06 15.29 21.02 11.33 17.32 77.2

31 Titan Energy Systems Ltd. Solar modules 27.04 68.55 1.06 0.85 7.06 5.20 3.24 6.88 12% 10% 92.67 80.89 64.01 129.46 104.18 50.49 0 1.91 42.6 28.97 77.6

32 Fine-Line Circuits Ltd. Printed circuit boards 32.03 24.63 0.54 0.56 7.03 4.90 3.99 0.86 12% 3% 48.26 68.64 34.29 47.67 53.99 84.37 16.24 19.39 6.1 14.01 77.9

33 Accel Transmatic Ltd. Other computer peripherals 33.03 39.06 0.59 0.65 3.07 1.77 7.82 7.4 24% 19% 99.24 98.8 79.45 67.45 175.05 92.29 17.75 35.58 15.29 8.81 79.5

34 Siemens Healthcare Diagnostics Ltd. Medical equipment 75.24 54.88 0.65 0.72 3.92 2.47 39.96 10.03 53% 18% 46.26 76.56 46.61 86.47 68.3 70.9 9.01 13.96 14.57 24.67 80.0

35 Photon Energy Systems Ltd. Solar appliances 35.59 72.97 0.77 0.90 3.79 7.16 2.62 5.85 7% 8% 40.32 24.59 59.79 147.03 48.82 74.23 9.12 9.69 13.92 4.63 80.3

36 V X L Instruments Ltd. Computer terminals 72.74 93.53 0.93 0.95 14.87 3.55 -2.82 -5.23 -4% -6% 94.3 125.07 76.45 134.78 64.88 41.65 49.49 41.91 5.09 7.91 82.5

37 Akasaka Electronics Ltd. [Merged] Printed circuit boards 29.28 25.89 0.74 0.77 1.71 1.72 4.4 4.53 15% 17% NA 47.67 40.76 59.19 NA 71.65 NA 23 NA 11.93 83.3

38 Cosmo Ferrites Ltd. Soft ferrites 31.45 31.64 0.50 0.60 0.51 0.57 7.59 5.16 24% 16% 40.29 41.89 41.77 44.38 72.61 72.75 23.12 23.28 9.89 19.08 85.5

39 Astra Microwave Products Ltd. Microwave passive components 101.24 118.96 0.48 0.64 0.79 0.86 48.11 42.98 48% 36% 138.45 196.71 220.2 150.84 157.15 122.7 77.77 69.41 1.8 8.33 85.7

40 Incap Ltd. Electrolytic capacitors 13.65 11.73 0.73 0.81 2.44 2.56 1.62 1.68 12% 14% 62.31 70.73 37.4 59.48 118.46 121.52 3.83 7.73 37.13 39.62 85.8

41 Precision Electronics Ltd. Printed circuit boards 30.1 25.17 0.61 0.88 0.98 0.92 6.67 2.12 22% 8% 102.73 105.22 39.2 73.83 101.11 77.3 40.08 131.89 1.05 1.51 85.8

42 Shyam Telecom Ltd. Transmission equipment 323.07 222.45 0.64 0.85 3.52 4.76 -10.97 17.38 -3% 8% 74.26 129.07 138.67 200.61 18.38 180.17 2.87 23.73 1.39 3.26 85.9

43 Mro-Tek Ltd. Communication & broadcasting equipment 115.38 139.33 0.54 0.84 2.21 4.22 17.09 24.37 15% 17% 73.26 73.17 80.33 111.33 74.97 53.28 21.13 14.54 58 43.84 86.0

44 Aplab Ltd. Power control equipment 103.18 116.12 0.75 0.77 4.74 4.74 8.7 11.75 8% 10% 93.35 82.84 86.56 75.82 105.31 103.28 25.73 24.91 4.74 9.09 86.3

45 Spice Mobiles Ltd. Cordless phone 209.6 290.01 0.90 0.82 36.70 48.94 6.64 19.57 3% 7% 52.88 44.65 54.6 83.66 53.86 92.91 11.57 9.15 25.39 28.93 89.6

46 Uptron Powertronics Ltd. Rectifiers, battery charging 6.99 13.75 0.92 0.87 1.23 2.33 0.74 3.41 11% 25% 275.06 168.48 389.78 337.29 0 6898.5 188.14 137.22 2.4 1.4 91.7

47 S P E L Semiconductor Ltd. Integrated circuits 54.88 75.98 0.55 0.54 0.45 0.36 12.8 21.01 23% 28% 20.96 21.9 77.29 164.01 117.86 84.75 50.72 49.68 9.95 3.83 91.8

48 Mahindra Hinoday Inds. Ltd. Passive components 246.97 251.32 0.62 0.78 1.01 1.14 33.32 17.32 13% 7% NA 74.09 95.72 90.02 NA 40.28 NA 30.07 NA 29.28 93.9

49 Star Circlips & Engineering Ltd. Other miscellaneous items 26.62 27.63 0.76 0.78 1.82 1.92 3.33 4.03 13% 15% 73.09 76.05 85.87 84.52 70.46 73.42 21.32 32.8 14.11 20.45 95.6

50 Instrumentation Ltd. Control instrumentation & industrial electronics 220.46 234.22 0.72 0.76 12.75 15.05 11.92 13.43 5% 6% 184.83 234.52 155.1 198.97 228.44 165.4 116.91 90.61 17.99 15.57 99.0

51 B P L Ltd. Television receivers 117.35 111.97 0.73 0.73 0.49 0.50 3.09 -112.7 3% -101% 69.34 83.18 384.62 355.8 64.25 60.42 34.67 15.36 15.66 40.32 100.2

52 Arraycom (India) Ltd. Resistors, nec 38.78 15.02 0.87 0.59 2.65 0.90 5.89 3.98 15% 26% 100.12 267.32 30.23 85.62 466.39 288.68 188.1 226.74 20.32 47.81 100.7

53 Punjab Communications Ltd. Communication & broadcasting equipment 41.89 17.39 0.93 0.76 4.30 1.60 -5.44 -1.44 -13% -8% 344.97 889.05 202.61 469.72 84.3 360.7 8.08 13.14 35.83 81.96 105.3

54 Asian Electronics Ltd. Electronic components 370.84 219.53 0.57 0.87 2.55 3.25 99.92 -122.71 27% -56% 218.5 550.24 82.81 167.79 84.82 181.17 50.76 125.01 19.4 83.8 120.1

1 U I C Inds. Ltd. Wires & ropes of iron & steel 20.23 18.76 0.93 0.94 9.01 9.39 0.66 0.64 3% 3% 71.69 103.57 8.82 48.98 0.69 0.68 2.41 2.5 1.96 0.96 78.4

2 Rolcon Engineering Co. Ltd. Chains & anchors of iron & steel 24.12 30.76 0.64 0.62 5.12 4.64 2.21 3.47 9% 11% 43.01 39.16 78.57 65.93 20.74 21.42 3.55 3.39 0.27 0.11 93.1

3 Unison Metals Ltd. Cold rolled coils, strips, sheets 24.79 38.46 0.89 0.88 10.04 8.97 0.77 1.29 3% 3% 71.24 51.66 25.22 16.22 10.48 10.97 3.47 5.78 3.32 3.27 96.8

4 Metal Coatings (India) Ltd. Articles of iron & steel 88.98 113.58 0.92 0.94 11.12 14.07 2.62 4.19 3% 4% 57.97 48.03 3.66 4.59 12.2 16.78 8.85 9.15 1.87 1.62 100.3

5 Sri Rama Vilas Service Ltd. Articles of iron & steel 19.91 22.1 0.46 0.47 13.41 8.79 5.45 5.62 27% 25% 72.29 70.24 68.44 70.28 5.98 3.92 7.53 10.75 11.62 9.37 100.6

6 Shakti Met-Dor Ltd. Metal furnitures & fixtures 58.15 69.08 0.57 0.56 2.15 1.71 17.27 20.82 30% 30% 58.78 77.07 43.19 37.05 70.29 66.14 0.17 1.45 2.02 1.42 102.1

7 yashraj Containeurs Ltd. Reservoirs, tanks & other fabrications 52.46 104.95 0.78 0.86 1.26 2.68 11.31 11.97 22% 11% 55.13 77.17 71 50.63 21.99 25.58 16.11 4.57 2.15 1.79 102.5

8 Rajratan Global Wire Ltd. Wires & ropes of iron & steel 96.41 107.09 0.77 0.85 1.58 1.96 10.51 9.15 11% 9% 73.36 74.98 8.4 7.74 42.14 31.16 0.49 1.6 4.55 3.98 104.3

9 Eurocoustic Products Ltd. Metal furnitures & fixtures 23.59 20.39 0.57 0.59 6.98 5.53 5.25 4.14 22% 20% 72.78 110.41 111.14 115.33 25.07 58.57 3.01 6.32 0.52 0.69 108.4

10 Andhra Ferro Alloys Ltd. Ferro chromium 84.05 125.01 0.83 0.81 4.71 5.89 4.92 13.26 6% 11% NA 15.6 53.15 38.29 NA 39.07 NA 0.07 NA 0.19 109.4

11 A P W President Systems Ltd. Miscellaneous articles of base metals 98.79 131.2 0.65 0.70 2.28 2.69 14.1 18.39 14% 14% 73.23 65.39 57.94 54.91 20.53 17.19 13.51 11.21 2.62 3.71 110.3

12 Coventry Coil-O-Matic (Haryana) Ltd. Coil springs 34.33 35.94 0.73 0.75 2.46 3.07 2.18 0.53 6% 1% 41.86 43.72 33.18 44.34 25.54 22.65 6.31 8.69 0.44 0.5 115.2

13 Garg Furnace Ltd. Stainless steel ingots 161.83 162.06 0.94 0.94 33.50 31.84 2.71 3.04 2% 2% 48 69.81 32.35 68.63 23.87 27.05 0.4 0.22 6.43 6.19 118.7

14 J V Strips Ltd. Cold rolled coils, strips, sheets 137.65 148.4 0.92 0.95 13.15 15.71 4.13 4.56 3% 3% 35.37 36.3 2.91 3.11 29.32 22.72 11.9 12.05 1.16 1.18 120.4

15 U I C Udyog Ltd. Wires & ropes of iron & steel 140.81 199.85 0.86 0.87 2.28 3.13 16.91 29.41 12% 15% 65.2 82.79 38.62 18 35.97 32.55 19.47 28.02 1.92 2.64 126.7

16 Rajasthan Cylinders & Containers Ltd. LPG cylinders & other gas containers 23.52 29.95 0.75 0.66 1.62 2.02 0.6 2.06 3% 7% 46.21 45.32 31.75 18.33 17.17 15.17 10.65 11.07 8.97 7.96 126.7

17 Nova Iron & Steel Ltd. Sponge iron 116.59 157.98 0.95 0.89 4.18 5.91 1.72 896.63 1% 568% 21.09 15.68 63.44 63.86 10.56 17 2.8 2.52 12.22 9.21 130.0

ferrous metAls

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers100

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 103: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 101

27 At & S India Pvt. Ltd. Printed circuit boards 196.89 212.93 0.69 0.67 1.62 2.09 26.97 38.43 14% 18% 30.8 32.38 79.45 87.77 105.6 97.4 13.12 10.87 5.23 5.49 76.6

28 Rexnord Electronics & Controls Ltd. Instrument cooling fans 11.56 16.13 0.55 0.68 1.53 2.51 1.58 1.9 14% 12% 85.04 75.52 129.83 123.36 62.08 38.28 104.06 91.51 9.84 5.54 76.7

29 Sulakshana Circuits Ltd. Printed circuit boards 11.11 10.75 0.73 0.71 2.05 1.94 1.63 1.8 15% 17% 121.24 127.25 107.55 85 107.13 96.08 10.71 17.7 13.08 11.54 76.8

30 Central Electronics Ltd. Solar appliances 127.64 153.82 0.84 0.87 3.44 4.40 5.88 7.04 5% 5% 104.38 127.95 109.17 140.95 50.64 35.06 15.29 21.02 11.33 17.32 77.2

31 Titan Energy Systems Ltd. Solar modules 27.04 68.55 1.06 0.85 7.06 5.20 3.24 6.88 12% 10% 92.67 80.89 64.01 129.46 104.18 50.49 0 1.91 42.6 28.97 77.6

32 Fine-Line Circuits Ltd. Printed circuit boards 32.03 24.63 0.54 0.56 7.03 4.90 3.99 0.86 12% 3% 48.26 68.64 34.29 47.67 53.99 84.37 16.24 19.39 6.1 14.01 77.9

33 Accel Transmatic Ltd. Other computer peripherals 33.03 39.06 0.59 0.65 3.07 1.77 7.82 7.4 24% 19% 99.24 98.8 79.45 67.45 175.05 92.29 17.75 35.58 15.29 8.81 79.5

34 Siemens Healthcare Diagnostics Ltd. Medical equipment 75.24 54.88 0.65 0.72 3.92 2.47 39.96 10.03 53% 18% 46.26 76.56 46.61 86.47 68.3 70.9 9.01 13.96 14.57 24.67 80.0

35 Photon Energy Systems Ltd. Solar appliances 35.59 72.97 0.77 0.90 3.79 7.16 2.62 5.85 7% 8% 40.32 24.59 59.79 147.03 48.82 74.23 9.12 9.69 13.92 4.63 80.3

36 V X L Instruments Ltd. Computer terminals 72.74 93.53 0.93 0.95 14.87 3.55 -2.82 -5.23 -4% -6% 94.3 125.07 76.45 134.78 64.88 41.65 49.49 41.91 5.09 7.91 82.5

37 Akasaka Electronics Ltd. [Merged] Printed circuit boards 29.28 25.89 0.74 0.77 1.71 1.72 4.4 4.53 15% 17% NA 47.67 40.76 59.19 NA 71.65 NA 23 NA 11.93 83.3

38 Cosmo Ferrites Ltd. Soft ferrites 31.45 31.64 0.50 0.60 0.51 0.57 7.59 5.16 24% 16% 40.29 41.89 41.77 44.38 72.61 72.75 23.12 23.28 9.89 19.08 85.5

39 Astra Microwave Products Ltd. Microwave passive components 101.24 118.96 0.48 0.64 0.79 0.86 48.11 42.98 48% 36% 138.45 196.71 220.2 150.84 157.15 122.7 77.77 69.41 1.8 8.33 85.7

40 Incap Ltd. Electrolytic capacitors 13.65 11.73 0.73 0.81 2.44 2.56 1.62 1.68 12% 14% 62.31 70.73 37.4 59.48 118.46 121.52 3.83 7.73 37.13 39.62 85.8

41 Precision Electronics Ltd. Printed circuit boards 30.1 25.17 0.61 0.88 0.98 0.92 6.67 2.12 22% 8% 102.73 105.22 39.2 73.83 101.11 77.3 40.08 131.89 1.05 1.51 85.8

42 Shyam Telecom Ltd. Transmission equipment 323.07 222.45 0.64 0.85 3.52 4.76 -10.97 17.38 -3% 8% 74.26 129.07 138.67 200.61 18.38 180.17 2.87 23.73 1.39 3.26 85.9

43 Mro-Tek Ltd. Communication & broadcasting equipment 115.38 139.33 0.54 0.84 2.21 4.22 17.09 24.37 15% 17% 73.26 73.17 80.33 111.33 74.97 53.28 21.13 14.54 58 43.84 86.0

44 Aplab Ltd. Power control equipment 103.18 116.12 0.75 0.77 4.74 4.74 8.7 11.75 8% 10% 93.35 82.84 86.56 75.82 105.31 103.28 25.73 24.91 4.74 9.09 86.3

45 Spice Mobiles Ltd. Cordless phone 209.6 290.01 0.90 0.82 36.70 48.94 6.64 19.57 3% 7% 52.88 44.65 54.6 83.66 53.86 92.91 11.57 9.15 25.39 28.93 89.6

46 Uptron Powertronics Ltd. Rectifiers, battery charging 6.99 13.75 0.92 0.87 1.23 2.33 0.74 3.41 11% 25% 275.06 168.48 389.78 337.29 0 6898.5 188.14 137.22 2.4 1.4 91.7

47 S P E L Semiconductor Ltd. Integrated circuits 54.88 75.98 0.55 0.54 0.45 0.36 12.8 21.01 23% 28% 20.96 21.9 77.29 164.01 117.86 84.75 50.72 49.68 9.95 3.83 91.8

48 Mahindra Hinoday Inds. Ltd. Passive components 246.97 251.32 0.62 0.78 1.01 1.14 33.32 17.32 13% 7% NA 74.09 95.72 90.02 NA 40.28 NA 30.07 NA 29.28 93.9

49 Star Circlips & Engineering Ltd. Other miscellaneous items 26.62 27.63 0.76 0.78 1.82 1.92 3.33 4.03 13% 15% 73.09 76.05 85.87 84.52 70.46 73.42 21.32 32.8 14.11 20.45 95.6

50 Instrumentation Ltd. Control instrumentation & industrial electronics 220.46 234.22 0.72 0.76 12.75 15.05 11.92 13.43 5% 6% 184.83 234.52 155.1 198.97 228.44 165.4 116.91 90.61 17.99 15.57 99.0

51 B P L Ltd. Television receivers 117.35 111.97 0.73 0.73 0.49 0.50 3.09 -112.7 3% -101% 69.34 83.18 384.62 355.8 64.25 60.42 34.67 15.36 15.66 40.32 100.2

52 Arraycom (India) Ltd. Resistors, nec 38.78 15.02 0.87 0.59 2.65 0.90 5.89 3.98 15% 26% 100.12 267.32 30.23 85.62 466.39 288.68 188.1 226.74 20.32 47.81 100.7

53 Punjab Communications Ltd. Communication & broadcasting equipment 41.89 17.39 0.93 0.76 4.30 1.60 -5.44 -1.44 -13% -8% 344.97 889.05 202.61 469.72 84.3 360.7 8.08 13.14 35.83 81.96 105.3

54 Asian Electronics Ltd. Electronic components 370.84 219.53 0.57 0.87 2.55 3.25 99.92 -122.71 27% -56% 218.5 550.24 82.81 167.79 84.82 181.17 50.76 125.01 19.4 83.8 120.1

1 U I C Inds. Ltd. Wires & ropes of iron & steel 20.23 18.76 0.93 0.94 9.01 9.39 0.66 0.64 3% 3% 71.69 103.57 8.82 48.98 0.69 0.68 2.41 2.5 1.96 0.96 78.4

2 Rolcon Engineering Co. Ltd. Chains & anchors of iron & steel 24.12 30.76 0.64 0.62 5.12 4.64 2.21 3.47 9% 11% 43.01 39.16 78.57 65.93 20.74 21.42 3.55 3.39 0.27 0.11 93.1

3 Unison Metals Ltd. Cold rolled coils, strips, sheets 24.79 38.46 0.89 0.88 10.04 8.97 0.77 1.29 3% 3% 71.24 51.66 25.22 16.22 10.48 10.97 3.47 5.78 3.32 3.27 96.8

4 Metal Coatings (India) Ltd. Articles of iron & steel 88.98 113.58 0.92 0.94 11.12 14.07 2.62 4.19 3% 4% 57.97 48.03 3.66 4.59 12.2 16.78 8.85 9.15 1.87 1.62 100.3

5 Sri Rama Vilas Service Ltd. Articles of iron & steel 19.91 22.1 0.46 0.47 13.41 8.79 5.45 5.62 27% 25% 72.29 70.24 68.44 70.28 5.98 3.92 7.53 10.75 11.62 9.37 100.6

6 Shakti Met-Dor Ltd. Metal furnitures & fixtures 58.15 69.08 0.57 0.56 2.15 1.71 17.27 20.82 30% 30% 58.78 77.07 43.19 37.05 70.29 66.14 0.17 1.45 2.02 1.42 102.1

7 yashraj Containeurs Ltd. Reservoirs, tanks & other fabrications 52.46 104.95 0.78 0.86 1.26 2.68 11.31 11.97 22% 11% 55.13 77.17 71 50.63 21.99 25.58 16.11 4.57 2.15 1.79 102.5

8 Rajratan Global Wire Ltd. Wires & ropes of iron & steel 96.41 107.09 0.77 0.85 1.58 1.96 10.51 9.15 11% 9% 73.36 74.98 8.4 7.74 42.14 31.16 0.49 1.6 4.55 3.98 104.3

9 Eurocoustic Products Ltd. Metal furnitures & fixtures 23.59 20.39 0.57 0.59 6.98 5.53 5.25 4.14 22% 20% 72.78 110.41 111.14 115.33 25.07 58.57 3.01 6.32 0.52 0.69 108.4

10 Andhra Ferro Alloys Ltd. Ferro chromium 84.05 125.01 0.83 0.81 4.71 5.89 4.92 13.26 6% 11% NA 15.6 53.15 38.29 NA 39.07 NA 0.07 NA 0.19 109.4

11 A P W President Systems Ltd. Miscellaneous articles of base metals 98.79 131.2 0.65 0.70 2.28 2.69 14.1 18.39 14% 14% 73.23 65.39 57.94 54.91 20.53 17.19 13.51 11.21 2.62 3.71 110.3

12 Coventry Coil-O-Matic (Haryana) Ltd. Coil springs 34.33 35.94 0.73 0.75 2.46 3.07 2.18 0.53 6% 1% 41.86 43.72 33.18 44.34 25.54 22.65 6.31 8.69 0.44 0.5 115.2

13 Garg Furnace Ltd. Stainless steel ingots 161.83 162.06 0.94 0.94 33.50 31.84 2.71 3.04 2% 2% 48 69.81 32.35 68.63 23.87 27.05 0.4 0.22 6.43 6.19 118.7

14 J V Strips Ltd. Cold rolled coils, strips, sheets 137.65 148.4 0.92 0.95 13.15 15.71 4.13 4.56 3% 3% 35.37 36.3 2.91 3.11 29.32 22.72 11.9 12.05 1.16 1.18 120.4

15 U I C Udyog Ltd. Wires & ropes of iron & steel 140.81 199.85 0.86 0.87 2.28 3.13 16.91 29.41 12% 15% 65.2 82.79 38.62 18 35.97 32.55 19.47 28.02 1.92 2.64 126.7

16 Rajasthan Cylinders & Containers Ltd. LPG cylinders & other gas containers 23.52 29.95 0.75 0.66 1.62 2.02 0.6 2.06 3% 7% 46.21 45.32 31.75 18.33 17.17 15.17 10.65 11.07 8.97 7.96 126.7

17 Nova Iron & Steel Ltd. Sponge iron 116.59 157.98 0.95 0.89 4.18 5.91 1.72 896.63 1% 568% 21.09 15.68 63.44 63.86 10.56 17 2.8 2.52 12.22 9.21 130.0

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 104: Reinventing the Supply Chain

18 Electrical Manufacturing Co. Ltd. Heavy structurals (Bridges & bridge sect, 114.47 201.57 0.82 0.88 2.94 7.46 5.72 30.41 5% 15% 63.96 97.3 229.67 224.67 13.71 30.14 1.29 8.17 0.2 5.78 130.1

19 Unique Structures & Towers Ltd. Structures 68.18 62.1 0.83 0.81 9.83 8.30 3.53 4.73 5% 8% 73.12 92.97 49.28 39.28 18.92 27.04 3.95 5.18 10.85 19.92 131.5

20 Sanghvi Forging & Engg. Ltd. Forgings 18.9 22.36 0.69 0.70 2.15 1.67 3.83 5.36 20% 24% 62 64.83 61.84 27.69 20.84 30.93 56.65 68.25 2.57 1.12 132.0

21 British Scaffolding (India) Ltd. Medium structurals (Scaffolding, shuttering, 86.11 101.96 0.81 0.87 5.95 6.80 12.22 8.73 14% 9% 48.03 56.04 9.93 15.34 21.33 13.34 10.29 11.07 12 14.7 132.2

22 North India Wires Ltd. LPG cylinders & other gas containers 25.61 30.94 0.91 0.87 16.31 20.40 1.07 1.41 4% 5% NA 43.09 8.75 15.06 NA 43.72 NA 3.72 NA 6.81 132.5

23 Modern Steels Ltd. Bars & rods 278.1 289.6 0.65 0.69 3.91 3.43 21.06 17.49 8% 6% 43.13 45.21 29.25 20.99 31.05 33.97 9.17 9.05 12.28 7.52 133.2

24 Anjaney Ferro Alloys Ltd. Ferro alloys 80.28 113.33 0.78 0.71 4.05 3.42 9.21 26.1 11% 23% 13.85 11.97 11.75 17.66 79.25 59.21 0.74 0.63 7.37 7.09 135.4

25 Baheti Metal & Ferro Alloys Ltd. Ferro alloys 61.99 69.68 0.95 0.93 24.02 25.50 1.68 2.18 3% 3% 34.86 29.75 8.63 0.05 37.68 42.02 3.55 4.1 6.16 4.59 136.2

26 Bansal High Carbons Pvt. Ltd. Wires & ropes of iron & steel 96.28 97.28 0.97 0.92 18.42 13.34 2.36 3.32 2% 3% 23.61 27.87 4.97 11.22 29.81 39.88 4.36 6.19 3.13 3.66 136.4

27 Real Strips Ltd. Stainless steel flat rolled products 79.37 111.91 0.78 0.87 1.79 2.49 10.09 12.29 13% 11% 49.86 59.16 24.16 29.9 23.08 19.34 28.75 24.2 6.72 5.9 137.4

28 Allied Strips Ltd. Cold rolled coils, strips, sheets 106.65 155.31 0.96 1.00 9.35 13.87 3.46 7.51 3% 5% 53.78 48.7 39.49 22.09 20.91 19.18 22.85 25.13 3.45 4.47 137.6

29 Investment & Precision Castings Ltd. Castings 65.13 62.21 0.36 0.40 1.19 1.37 16.04 12.71 25% 20% 96.06 92.46 32.37 23.6 49.25 53.75 22.74 24.38 9.04 6.3 137.9

30 Varsha Forgings Ltd. Forgings 18.04 16.78 0.82 0.73 8.09 6.35 2.22 1.55 12% 9% 74.77 96.57 50.09 15.37 36.79 42.52 20.99 15.41 6.25 12.77 140.5

31 Pawanjay Sponge Iron Ltd. Sponge iron 29.74 41.01 0.83 0.82 1.47 1.74 4.23 5.39 14% 13% 30.58 41.15 35.09 32.12 153.12 110.86 0.44 0.26 2.51 2.23 142.6

32 British Scaffolding International Ltd. Medium structurals (Scaffolding, shuttering, 28.35 22.68 0.70 0.63 5.17 1.93 3.31 2.13 12% 9% 109.07 156.37 37.52 31.38 51.83 60.96 21.3 33.27 0.64 1.31 142.8

33 Bundy India Ltd. Bundy tubes 68.59 74.3 0.71 0.73 1.55 1.41 7.58 7.85 11% 11% 50.27 83.22 99.49 121.77 48.96 42.44 10.94 9.52 2.18 1.63 143.3

34 Rajasthan Tube Mfg. Co. Ltd. Tubes & pipes 55.06 60.32 0.98 0.94 15.30 17.89 1.81 2.09 3% 3% 64.68 78.29 57.86 60.55 16.14 20.45 1 1.67 26.58 25 144.6

35 Sponge Iron India Ltd. [Merged] Sponge iron 57.61 60.51 0.74 0.64 2.28 2.00 7.35 11.31 13% 19% 30.62 26.72 44.61 32.5 28.39 35.04 3.6 4.41 19.01 12.21 145.7

36 India Tube Mills & Metal Inds. Ltd. Reservoirs, tanks & other fabrications 40.1 88.94 0.79 0.88 14.60 19.63 4.44 6.47 11% 7% 67.26 42.32 19.42 60.95 41.12 22.16 53.16 49.04 0.68 0.7 146.8

37 Ashirwad Steels & Inds. Ltd. Sponge iron 42.43 54.22 0.97 0.87 2.77 3.17 0.51 5.51 1% 10% 34.27 35.72 27.25 21.71 55.56 72.66 0.26 0.23 4.81 4.4 146.8

38 Southern Ispat & Energy Ltd. Stainless steel bars & rods 29.92 41.39 1.13 0.80 14.05 19.26 0.26 0.82 1% 2% 67.32 98.1 66.49 143.08 89.89 42.77 8.42 14.1 3.06 2.58 148.0

39 Minex Metallurgical Co. Pvt. Ltd. Wires & ropes of iron & steel 216.04 221.99 0.90 0.78 9.01 8.21 16.11 20.17 7% 9% NA 64.92 45.75 26.62 NA 52.49 NA 2.14 NA 16.75 148.3

40 Stainless India Ltd. Stainless steel ingots 108.31 52.09 0.94 0.97 4.37 2.41 -23.15 -15.78 -21% -30% 67.11 101.34 184.72 377.66 14.96 36.1 0.81 0.93 3.53 3.86 149.9

41 Sarthak Industries Ltd. LPG cylinders & other gas containers 30.68 61.51 0.92 0.93 4.11 20.37 1.89 2.17 6% 4% NA 165.04 173.35 330.76 NA 44.68 NA 15.49 NA 0.71 150.0

42 D-M-E Company (India) Pvt. Ltd. Other springs 11.15 12.87 0.50 0.52 0.76 0.93 3.28 3.45 29% 27% NA 94.58 102.87 61 NA 85.32 NA 8.35 NA 7.91 150.3

43 Anil Special Steel Inds. Ltd. Flat products 92.35 94.09 0.77 0.78 1.90 2.00 12.14 8.15 13% 9% 51.51 51.44 52.64 38.35 15.62 14.04 44.53 37.58 7.98 6.19 151.2

44 Steelcast Ltd. Steel castings 101.09 117.98 0.53 0.57 2.27 1.99 20.76 18.18 21% 15% 78.18 85.98 55.3 54.45 41.51 51.67 33.68 41.6 1.36 2.82 151.4

45 Magna Electro Castings Ltd. Steel castings 47.96 56.12 0.41 0.49 0.65 0.89 11.87 11.57 25% 21% 41.45 41.22 69.23 77.18 29.54 36 0.73 11.94 13.85 6.68 151.4

46 Bhandari Foils & Tubes Ltd. Tubes & pipes 192.22 190.83 0.72 0.83 6.18 5.27 11.2 13.41 6% 7% 59.61 76.81 70.98 84.11 2.79 2.9 42.29 26.5 5.95 9.14 151.8

47 Uni Abex Alloy Products Ltd. Tubes & pipes 61.5 62.49 0.69 0.77 12.38 7.76 7.07 6.66 11% 11% 53.35 60.94 67.31 59.54 31.31 27.54 61.23 71.12 3.32 4.3 155.3

48 Hindustan Files Ltd. Files 28.89 35.56 0.64 0.70 5.25 7.02 3.25 2.44 11% 7% 20.74 18.01 54.45 59.1 35.51 29.9 8.07 12.87 12.7 7.5 156.1

49 Mahindra Forgings Ltd. Forgings 214.53 219.59 0.70 0.72 0.82 0.55 22.89 30.63 11% 14% 35.98 42.11 52.11 82.96 52.35 34.46 11.9 19.22 5.55 1.7 156.9

50 Gandhi Special Tubes Ltd. Tubes & pipes 60.82 77.27 0.47 0.47 0.75 0.73 23.29 31.52 38% 41% 47.19 38.64 31.51 26.33 125.35 127.7 15.96 16.3 1.47 2.25 157.0

51 North Eastern Tubes Ltd. Tubes & pipes 48.06 50.96 0.82 0.90 10.59 13.18 2.79 3.03 6% 6% 33 45.86 30.91 42.26 21.39 26.61 10.54 15.22 11.2 11.64 158.3

52 Sova Ispat Alloys Ltd. Ferro silico manganese 97.33 123.68 0.89 0.83 11.35 14.84 8.75 13.34 9% 11% NA 14.12 28.22 29.62 NA 75.98 NA 0.1 NA 9.58 158.8

53 Modinagar Rolls Ltd. Flat products 9.66 13.27 0.59 0.63 1.62 1.70 0.95 1.41 10% 11% 98.38 89.94 108.05 102.9 24.41 29.25 29.35 29.99 3.52 5.74 159.1

54 Haryana Foils Ltd. Cold rolled coils, strips, sheets 49.74 55.56 0.96 1.02 15.76 19.16 1.53 1.88 3% 3% NA 74.8 50.55 56.14 NA 19.04 NA 29.47 NA 8.96 159.5

55 Bedmutha Wire Co. Ltd. Wires & ropes of iron & steel 71.34 113.48 0.82 0.82 7.98 4.46 3.78 11.22 5% 10% 49.41 39.4 5.91 25.43 49.41 53.92 19.28 11.56 7.67 6.91 160.7

56 Sterling Tools Ltd. Screws, bolts, nuts, rivets, washers, etc. 139.31 155.46 0.62 0.57 1.21 1.15 19.98 23.5 14% 15% 57.23 61.89 46.67 40.17 34.71 42.21 14.88 17.75 12.58 11.19 160.8

57 Garg Inox Ltd. Stainless steel wires 150.58 171.16 0.88 0.88 9.44 4.70 7.18 10.62 5% 6% NA 64.35 54.04 54.37 NA 16.39 NA 27.19 NA 11.48 161.6

58 Nagreeka Foils Ltd. Other articles of iron & steel 35.34 58.89 0.73 0.81 2.09 4.27 5.4 9.52 15% 16% 116.93 52.74 45.24 55.34 133.04 43.39 32.85 27.88 9.19 5.37 161.6

59 Dewas Metal Sections Ltd. Heavy structurals (Bridges & bridge sect, 57.22 60.57 0.87 0.85 5.40 4.90 4.35 4.44 8% 7% NA 44.66 58.96 44.33 NA 33.92 NA 15.11 NA 10.55 163.0

60 Facor Alloys Ltd. Ferro alloys 165.84 231.94 0.76 0.60 7.25 12.70 18.16 82.23 11% 35% 10.91 23.85 49.83 70.3 79.65 77.67 2.6 1.56 11.01 13.55 164.0

61 Ambey Metallic Ltd. Sponge iron 39.87 50.19 0.88 0.83 5.46 5.70 2.72 5.88 7% 12% 19.18 17.3 75.17 81.36 62.42 77.65 0.26 0.3 2.36 4.2 164.8

62 Stelco Strips Ltd. Cold rolled coils, strips, sheets 173.98 183.19 0.98 0.99 5.03 5.40 11.46 15.26 7% 8% 39.16 35.3 34.42 35.38 28.09 24.26 27.05 68.29 1.4 2.6 166.9

63 Upper India Steel Mfg. & Engg. Co. Ltd. Bars & rods 188.36 180.5 0.87 0.88 3.93 3.97 8.16 9.25 4% 5% 53.54 55.22 79.62 26.67 24.98 34.97 6.51 9.83 16.77 17.41 167.1

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers102

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 105: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 103

18 Electrical Manufacturing Co. Ltd. Heavy structurals (Bridges & bridge sect, 114.47 201.57 0.82 0.88 2.94 7.46 5.72 30.41 5% 15% 63.96 97.3 229.67 224.67 13.71 30.14 1.29 8.17 0.2 5.78 130.1

19 Unique Structures & Towers Ltd. Structures 68.18 62.1 0.83 0.81 9.83 8.30 3.53 4.73 5% 8% 73.12 92.97 49.28 39.28 18.92 27.04 3.95 5.18 10.85 19.92 131.5

20 Sanghvi Forging & Engg. Ltd. Forgings 18.9 22.36 0.69 0.70 2.15 1.67 3.83 5.36 20% 24% 62 64.83 61.84 27.69 20.84 30.93 56.65 68.25 2.57 1.12 132.0

21 British Scaffolding (India) Ltd. Medium structurals (Scaffolding, shuttering, 86.11 101.96 0.81 0.87 5.95 6.80 12.22 8.73 14% 9% 48.03 56.04 9.93 15.34 21.33 13.34 10.29 11.07 12 14.7 132.2

22 North India Wires Ltd. LPG cylinders & other gas containers 25.61 30.94 0.91 0.87 16.31 20.40 1.07 1.41 4% 5% NA 43.09 8.75 15.06 NA 43.72 NA 3.72 NA 6.81 132.5

23 Modern Steels Ltd. Bars & rods 278.1 289.6 0.65 0.69 3.91 3.43 21.06 17.49 8% 6% 43.13 45.21 29.25 20.99 31.05 33.97 9.17 9.05 12.28 7.52 133.2

24 Anjaney Ferro Alloys Ltd. Ferro alloys 80.28 113.33 0.78 0.71 4.05 3.42 9.21 26.1 11% 23% 13.85 11.97 11.75 17.66 79.25 59.21 0.74 0.63 7.37 7.09 135.4

25 Baheti Metal & Ferro Alloys Ltd. Ferro alloys 61.99 69.68 0.95 0.93 24.02 25.50 1.68 2.18 3% 3% 34.86 29.75 8.63 0.05 37.68 42.02 3.55 4.1 6.16 4.59 136.2

26 Bansal High Carbons Pvt. Ltd. Wires & ropes of iron & steel 96.28 97.28 0.97 0.92 18.42 13.34 2.36 3.32 2% 3% 23.61 27.87 4.97 11.22 29.81 39.88 4.36 6.19 3.13 3.66 136.4

27 Real Strips Ltd. Stainless steel flat rolled products 79.37 111.91 0.78 0.87 1.79 2.49 10.09 12.29 13% 11% 49.86 59.16 24.16 29.9 23.08 19.34 28.75 24.2 6.72 5.9 137.4

28 Allied Strips Ltd. Cold rolled coils, strips, sheets 106.65 155.31 0.96 1.00 9.35 13.87 3.46 7.51 3% 5% 53.78 48.7 39.49 22.09 20.91 19.18 22.85 25.13 3.45 4.47 137.6

29 Investment & Precision Castings Ltd. Castings 65.13 62.21 0.36 0.40 1.19 1.37 16.04 12.71 25% 20% 96.06 92.46 32.37 23.6 49.25 53.75 22.74 24.38 9.04 6.3 137.9

30 Varsha Forgings Ltd. Forgings 18.04 16.78 0.82 0.73 8.09 6.35 2.22 1.55 12% 9% 74.77 96.57 50.09 15.37 36.79 42.52 20.99 15.41 6.25 12.77 140.5

31 Pawanjay Sponge Iron Ltd. Sponge iron 29.74 41.01 0.83 0.82 1.47 1.74 4.23 5.39 14% 13% 30.58 41.15 35.09 32.12 153.12 110.86 0.44 0.26 2.51 2.23 142.6

32 British Scaffolding International Ltd. Medium structurals (Scaffolding, shuttering, 28.35 22.68 0.70 0.63 5.17 1.93 3.31 2.13 12% 9% 109.07 156.37 37.52 31.38 51.83 60.96 21.3 33.27 0.64 1.31 142.8

33 Bundy India Ltd. Bundy tubes 68.59 74.3 0.71 0.73 1.55 1.41 7.58 7.85 11% 11% 50.27 83.22 99.49 121.77 48.96 42.44 10.94 9.52 2.18 1.63 143.3

34 Rajasthan Tube Mfg. Co. Ltd. Tubes & pipes 55.06 60.32 0.98 0.94 15.30 17.89 1.81 2.09 3% 3% 64.68 78.29 57.86 60.55 16.14 20.45 1 1.67 26.58 25 144.6

35 Sponge Iron India Ltd. [Merged] Sponge iron 57.61 60.51 0.74 0.64 2.28 2.00 7.35 11.31 13% 19% 30.62 26.72 44.61 32.5 28.39 35.04 3.6 4.41 19.01 12.21 145.7

36 India Tube Mills & Metal Inds. Ltd. Reservoirs, tanks & other fabrications 40.1 88.94 0.79 0.88 14.60 19.63 4.44 6.47 11% 7% 67.26 42.32 19.42 60.95 41.12 22.16 53.16 49.04 0.68 0.7 146.8

37 Ashirwad Steels & Inds. Ltd. Sponge iron 42.43 54.22 0.97 0.87 2.77 3.17 0.51 5.51 1% 10% 34.27 35.72 27.25 21.71 55.56 72.66 0.26 0.23 4.81 4.4 146.8

38 Southern Ispat & Energy Ltd. Stainless steel bars & rods 29.92 41.39 1.13 0.80 14.05 19.26 0.26 0.82 1% 2% 67.32 98.1 66.49 143.08 89.89 42.77 8.42 14.1 3.06 2.58 148.0

39 Minex Metallurgical Co. Pvt. Ltd. Wires & ropes of iron & steel 216.04 221.99 0.90 0.78 9.01 8.21 16.11 20.17 7% 9% NA 64.92 45.75 26.62 NA 52.49 NA 2.14 NA 16.75 148.3

40 Stainless India Ltd. Stainless steel ingots 108.31 52.09 0.94 0.97 4.37 2.41 -23.15 -15.78 -21% -30% 67.11 101.34 184.72 377.66 14.96 36.1 0.81 0.93 3.53 3.86 149.9

41 Sarthak Industries Ltd. LPG cylinders & other gas containers 30.68 61.51 0.92 0.93 4.11 20.37 1.89 2.17 6% 4% NA 165.04 173.35 330.76 NA 44.68 NA 15.49 NA 0.71 150.0

42 D-M-E Company (India) Pvt. Ltd. Other springs 11.15 12.87 0.50 0.52 0.76 0.93 3.28 3.45 29% 27% NA 94.58 102.87 61 NA 85.32 NA 8.35 NA 7.91 150.3

43 Anil Special Steel Inds. Ltd. Flat products 92.35 94.09 0.77 0.78 1.90 2.00 12.14 8.15 13% 9% 51.51 51.44 52.64 38.35 15.62 14.04 44.53 37.58 7.98 6.19 151.2

44 Steelcast Ltd. Steel castings 101.09 117.98 0.53 0.57 2.27 1.99 20.76 18.18 21% 15% 78.18 85.98 55.3 54.45 41.51 51.67 33.68 41.6 1.36 2.82 151.4

45 Magna Electro Castings Ltd. Steel castings 47.96 56.12 0.41 0.49 0.65 0.89 11.87 11.57 25% 21% 41.45 41.22 69.23 77.18 29.54 36 0.73 11.94 13.85 6.68 151.4

46 Bhandari Foils & Tubes Ltd. Tubes & pipes 192.22 190.83 0.72 0.83 6.18 5.27 11.2 13.41 6% 7% 59.61 76.81 70.98 84.11 2.79 2.9 42.29 26.5 5.95 9.14 151.8

47 Uni Abex Alloy Products Ltd. Tubes & pipes 61.5 62.49 0.69 0.77 12.38 7.76 7.07 6.66 11% 11% 53.35 60.94 67.31 59.54 31.31 27.54 61.23 71.12 3.32 4.3 155.3

48 Hindustan Files Ltd. Files 28.89 35.56 0.64 0.70 5.25 7.02 3.25 2.44 11% 7% 20.74 18.01 54.45 59.1 35.51 29.9 8.07 12.87 12.7 7.5 156.1

49 Mahindra Forgings Ltd. Forgings 214.53 219.59 0.70 0.72 0.82 0.55 22.89 30.63 11% 14% 35.98 42.11 52.11 82.96 52.35 34.46 11.9 19.22 5.55 1.7 156.9

50 Gandhi Special Tubes Ltd. Tubes & pipes 60.82 77.27 0.47 0.47 0.75 0.73 23.29 31.52 38% 41% 47.19 38.64 31.51 26.33 125.35 127.7 15.96 16.3 1.47 2.25 157.0

51 North Eastern Tubes Ltd. Tubes & pipes 48.06 50.96 0.82 0.90 10.59 13.18 2.79 3.03 6% 6% 33 45.86 30.91 42.26 21.39 26.61 10.54 15.22 11.2 11.64 158.3

52 Sova Ispat Alloys Ltd. Ferro silico manganese 97.33 123.68 0.89 0.83 11.35 14.84 8.75 13.34 9% 11% NA 14.12 28.22 29.62 NA 75.98 NA 0.1 NA 9.58 158.8

53 Modinagar Rolls Ltd. Flat products 9.66 13.27 0.59 0.63 1.62 1.70 0.95 1.41 10% 11% 98.38 89.94 108.05 102.9 24.41 29.25 29.35 29.99 3.52 5.74 159.1

54 Haryana Foils Ltd. Cold rolled coils, strips, sheets 49.74 55.56 0.96 1.02 15.76 19.16 1.53 1.88 3% 3% NA 74.8 50.55 56.14 NA 19.04 NA 29.47 NA 8.96 159.5

55 Bedmutha Wire Co. Ltd. Wires & ropes of iron & steel 71.34 113.48 0.82 0.82 7.98 4.46 3.78 11.22 5% 10% 49.41 39.4 5.91 25.43 49.41 53.92 19.28 11.56 7.67 6.91 160.7

56 Sterling Tools Ltd. Screws, bolts, nuts, rivets, washers, etc. 139.31 155.46 0.62 0.57 1.21 1.15 19.98 23.5 14% 15% 57.23 61.89 46.67 40.17 34.71 42.21 14.88 17.75 12.58 11.19 160.8

57 Garg Inox Ltd. Stainless steel wires 150.58 171.16 0.88 0.88 9.44 4.70 7.18 10.62 5% 6% NA 64.35 54.04 54.37 NA 16.39 NA 27.19 NA 11.48 161.6

58 Nagreeka Foils Ltd. Other articles of iron & steel 35.34 58.89 0.73 0.81 2.09 4.27 5.4 9.52 15% 16% 116.93 52.74 45.24 55.34 133.04 43.39 32.85 27.88 9.19 5.37 161.6

59 Dewas Metal Sections Ltd. Heavy structurals (Bridges & bridge sect, 57.22 60.57 0.87 0.85 5.40 4.90 4.35 4.44 8% 7% NA 44.66 58.96 44.33 NA 33.92 NA 15.11 NA 10.55 163.0

60 Facor Alloys Ltd. Ferro alloys 165.84 231.94 0.76 0.60 7.25 12.70 18.16 82.23 11% 35% 10.91 23.85 49.83 70.3 79.65 77.67 2.6 1.56 11.01 13.55 164.0

61 Ambey Metallic Ltd. Sponge iron 39.87 50.19 0.88 0.83 5.46 5.70 2.72 5.88 7% 12% 19.18 17.3 75.17 81.36 62.42 77.65 0.26 0.3 2.36 4.2 164.8

62 Stelco Strips Ltd. Cold rolled coils, strips, sheets 173.98 183.19 0.98 0.99 5.03 5.40 11.46 15.26 7% 8% 39.16 35.3 34.42 35.38 28.09 24.26 27.05 68.29 1.4 2.6 166.9

63 Upper India Steel Mfg. & Engg. Co. Ltd. Bars & rods 188.36 180.5 0.87 0.88 3.93 3.97 8.16 9.25 4% 5% 53.54 55.22 79.62 26.67 24.98 34.97 6.51 9.83 16.77 17.41 167.1

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 106: Reinventing the Supply Chain

64 Suraj Stainless Ltd. Tubes & pipes 218.07 273.92 0.84 0.80 4.07 4.41 20.89 34.67 10% 13% 25.57 28.1 42.51 17.6 41.16 42.98 8.37 7.31 27.05 18.78 167.2

65 Bansal Wire Inds. Ltd. Wires & ropes of iron & steel 91.86 112.21 0.93 0.85 10.67 5.13 2.71 5.53 3% 5% 30.34 25.17 16.74 15 44.9 56.32 5.6 9.78 8.14 7.87 168.4

66 Gujarat Intrux Ltd. Steel castings 24.64 30.77 0.78 0.76 8.03 8.52 4.97 5.74 20% 19% 62.83 56.84 55.53 49.55 35.76 38.39 19.88 20.75 25.5 24.38 168.9

67 Harsha Engineers Ltd. Other fabricated metal products 195.73 238.8 0.65 0.68 1.46 1.72 33.32 50.08 17% 21% NA 79.85 28.98 66.39 NA 85.75 NA 3.5 NA 14.96 169.1

68 Raipur Rotocast Ltd. Articles of iron & steel 35.91 33.87 0.77 0.78 13.40 16.57 1.92 2.79 5% 8% 40.17 49.66 36.49 33.24 24.42 50.2 16.69 26.08 9.58 10.45 169.9

69 S T I Sanoh India Ltd. ERW tubes & pipes 71.17 88.89 0.61 0.60 1.46 1.75 11.97 15.99 17% 18% 37.64 42.39 79.6 58.34 61.3 65.13 11.7 10.2 8.77 9.54 170.3

70 Vishal Malleables Ltd. Castings 59.16 61.71 0.74 0.80 2.66 2.70 3.14 3.84 5% 6% 45.13 53.14 74.45 81.69 22.31 21.39 19.02 15.44 9.94 13.13 170.4

71 Bhawani Industries Ltd. Tubes & pipes 227.09 251.44 0.94 0.91 7.05 6.35 11.12 15.57 5% 6% 27.83 33.8 9.01 9.82 42.24 52.19 3.49 9.21 11.23 10.76 170.5

72 Vignyan Industries Ltd. Castings & forgings 20.92 28.57 0.64 0.60 4.29 5.31 1.82 2.17 9% 8% 3.88 9.1 49.68 49.89 47.04 36.2 70.21 60.6 0.55 2.53 171.0

73 Chase Bright Steel Ltd. Bars & rods 11.25 14.82 0.89 0.93 4.54 6.60 0.38 0.55 3% 4% 41.05 32.32 60.23 72.41 24.45 16.19 5.84 15.56 8.15 10.07 171.5

74 Mahalaxmi Seamless Ltd. Seamless tubes & pipes 27.88 35.61 0.77 0.58 3.57 2.66 3.91 6.96 14% 20% 53.46 48.67 62.41 66.67 25.57 52.01 41.59 32.63 6.57 8.13 176.4

75 J V R Forgings Ltd. Forgings 55.74 79.86 0.76 0.77 5.10 4.30 4.28 4.93 8% 6% NA 69.59 66.4 79.04 NA 41.78 NA 28.12 NA 7.8 177.4

76 Oswal Industries Ltd. Steel castings 23.62 51.14 0.57 0.75 0.78 1.62 4.84 11.54 20% 23% NA 94.12 56.83 151.79 NA 27.42 NA 32.47 NA 13.12 177.4

77 Tamboli Castings Ltd. Castings 11.5 21.68 0.49 0.54 1.03 1.28 2.65 5.6 23% 26% 81.89 93.64 71.51 37.31 39.22 38.83 54.97 43.13 6.34 39.9 180.7

78 Graham Firth Steel Products (India) Ltd. Cold rolled coils, strips, sheets 1.87 13.62 1.96 0.98 1.07 3.56 -1.1 -1.65 -59% -12% 343.13 80.45 583.83 234.27 134.67 32.65 9.75 6.72 44.64 12.1 181.1

79 Simplex Castings Ltd. Castings 135.5 149.83 0.65 0.68 2.16 2.08 16.27 19.76 12% 13% 67.91 79.24 71.98 86.48 55.84 64.86 39.58 37.41 4.96 3.91 181.6

80 Gunnebo India Ltd. Metal furnitures & fixtures 116.72 80.49 0.72 0.63 6.80 3.44 -18.22 3.83 -16% 5% 109.59 125.62 82.81 102.33 30.53 37.34 16.65 19.3 14.38 22.95 183.3

81 Billets Elektro Werke Ltd. Tools, implements, etc. 29.98 37.05 0.69 0.59 6.28 3.30 3.46 7.04 12% 19% 29.1 36.15 69.73 68.54 8.66 20.65 80.29 74.59 29.6 15.46 183.4

82 J K Talabot Ltd. Files 2.13 13.14 1.46 0.54 0.15 0.36 -0.83 2.8 -39% 21% 31.44 9.24 211.68 66.77 210.27 75.78 69.06 25.28 2.17 1.39 183.6

83 Unitech Power Transmission Ltd. Heavy structurals (Bridges & bridge sect, 84.17 68.01 0.64 0.97 4.81 4.64 9.87 6.33 12% 9% 104.34 160.4 92.94 129.64 36.49 38.28 17.76 6.01 47.95 73.08 184.4

84 Lamina Foundries Ltd. Cast iron castings 39.03 40.48 0.72 0.77 6.10 4.38 3.18 2.89 8% 7% 26.4 27.26 96 95.18 25.69 27.27 90.42 80.61 1.56 2.4 186.1

85 Nile Ltd. Other fabricated metal products 80.48 114.97 0.80 0.83 4.09 5.95 8.33 14.01 10% 12% 43.7 31.79 55.57 40.09 57.57 49.76 89.84 73.35 0.95 4.52 186.9

86 Castron Technologies Ltd. Ferro alloys 10.14 18.56 0.93 0.63 2.42 2.04 0.74 3.09 7% 17% 82.67 31.61 194.45 78.72 294.93 184.67 4.04 0.43 24.39 14.09 189.7

87 G M R Ferro Alloys & Inds. Ltd. Ferro chromium 136.13 141.43 0.52 0.88 2.59 4.99 5.98 11.73 4% 8% NA 40.92 94.64 35.06 NA 118.55 NA 1.29 NA 19.09 190.2

88 Richardson & Cruddas (1972) Ltd. Structures 54.47 63.18 0.22 0.24 0.85 1.14 -7.29 -26.77 -13% -42% 334.08 300.83 324.99 288.76 63.17 62.7 124.11 196.47 0.8 1.05 192.8

89 Hoganas India Ltd. Granules & powders of pig iron, etc. 90.95 120.68 0.84 0.77 3.54 3.46 14.97 15.69 16% 13% 42.66 35.52 62.05 49.91 39.95 38.03 21.53 15.92 37.61 39.46 192.8

90 Uni Deritend Ltd. Castings 85.34 94.17 0.54 0.62 2.81 2.91 15.78 15.38 18% 16% 90.01 95.97 72.06 67.49 81.05 83.57 49.98 60.76 12.36 9.56 193.0

91 Thangam Steel Ltd. Semi-finished Steel 26.27 81.08 1.02 0.85 8.84 15.35 1.4 3.17 5% 4% 62.3 47.09 48.31 72.83 41.56 88.77 16.49 10.07 47.44 9.74 194.1

92 India Steel Works Ltd. Bars & rods 84.37 249.07 0.83 1.07 0.35 1.33 25.51 31.23 30% 13% 85.52 41.43 109.43 95.15 41.25 35 0 22.72 1.41 7.74 197.5

93 Jash Engineering Ltd. Table, kitchen articles of iron & steel 23.63 33.79 0.69 0.69 1.67 1.86 3.49 5.14 15% 15% NA 68.9 103.76 103.77 NA 71.83 NA 31.46 NA 6.82 199.4

94 Sree Metaliks Ltd. Sponge iron 232.81 296.93 0.69 0.69 0.79 0.84 42.99 88.15 18% 30% NA 27.76 74.92 83.78 NA 63.17 NA 1.71 NA 28.41 199.4

95 Indsil Hydro Power & Manganese Ltd. Ferro silicon 34.87 52.71 0.46 0.62 0.28 0.60 10.58 11.75 30% 22% 37.09 17.68 126.45 53.02 276.94 173.4 2.87 1.64 51.98 24.29 202.3

96 Binjrajka Steel Tubes Ltd. Tubes & pipes 34.41 37.68 1.10 1.05 10.85 13.00 0.42 0.75 1% 2% NA 10.3 30.51 57.91 NA 32.69 NA 8.66 NA 39 203.3

97 Gemini Steel Tubes Ltd. ERW tubes & pipes 60.95 38.45 0.76 0.95 2.52 1.46 6.09 5.77 10% 15% 64.95 91.31 46.03 72.5 24.32 24.54 20.28 68.93 12.44 25.93 205.8

98 Bihar Sponge Iron Ltd. Sponge iron 162.96 195.99 0.90 0.88 1.13 1.40 6.27 32.95 4% 17% 10.55 10.36 47.32 81.36 69.62 44.61 0.55 0.52 28.55 46.3 206.0

99 Inox India Ltd. Reservoirs, tanks & other fabrications 130.92 193.85 0.62 0.61 2.55 2.28 30.78 41.48 24% 21% 26.79 27.77 105.73 104.95 73.7 72.11 100.83 104.91 2.9 2.34 206.3

100 Steel & Industrial Forgings Ltd. Forgings 42.49 52.27 0.67 0.62 6.86 8.59 4.19 7.62 10% 15% 80.76 82.77 105.18 142.09 134.52 166.85 31.14 25.26 18.6 15.56 207.0

101 Samrat Forgings Ltd. Forgings 29.61 36.58 0.75 0.78 4.19 4.16 3.48 4.5 12% 12% 33.76 42.05 92.56 96.69 69.52 62.05 66.57 89.64 2.28 4.3 208.9

102 Tayo Rolls Ltd. Flat products 195.75 214.21 0.76 0.77 4.76 3.02 23.4 19.44 12% 9% 69.26 59.68 96.3 86.04 40.52 43.15 32.51 35.91 14.24 14.14 209.3

103 Gontermann-Peipers (India) Ltd. Flat products 151.95 177.28 0.63 0.58 0.84 0.88 31.96 36.35 21% 21% 66.61 67.42 73.75 90.96 48.97 68.99 19.4 23.67 23.93 21.41 209.8

104 G K W Ltd. Screws, bolts, nuts, rivets, washers, etc. 115.01 119.52 0.78 0.80 1.06 1.32 14.49 268.6 13% 225% 58.06 75.48 204.71 128.61 73.44 69.54 61.31 56.76 12.24 8.51 212.9

105 A M D Industries Ltd. Crown caps 70.25 84.9 0.75 0.71 1.00 0.74 10.41 13.08 15% 15% 84.31 68.41 151.93 97.12 136.66 134.18 26.78 16.72 14.88 11.44 213.4

106 Impex Ferro Tech Ltd. Ferro alloys 174.43 264.06 0.87 0.79 3.77 2.50 12.81 25.05 7% 9% 28.35 23.13 78.79 85.23 323.14 240.27 51.82 20.52 4.8 3.39 213.7

107 Ankit Metal & Power Ltd. Finished Steel (Non-Alloy Steel) 194.85 283.83 0.89 0.89 1.50 1.56 24.12 52.71 12% 19% 45.12 38.1 97.49 75.92 205.07 155.09 14.06 8.46 6.21 13.68 215.4

108 Rajendra Mechanical Inds. Ltd. Tubes & pipes 119.97 175.98 0.94 0.86 2.90 3.91 12.52 21.01 10% 12% 34.76 42.61 70.18 43.51 49.3 44.4 94.96 83.35 16.17 15.65 215.6

109 Scan Steels Ltd. Stainless steel bars & rods 262.05 269.21 1.02 0.88 1.83 1.35 25.72 34.61 10% 13% 32.5 37.29 57.38 55.36 78.49 65.33 7.5 10.32 20.1 22.58 216.4

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers104

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 107: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 105

64 Suraj Stainless Ltd. Tubes & pipes 218.07 273.92 0.84 0.80 4.07 4.41 20.89 34.67 10% 13% 25.57 28.1 42.51 17.6 41.16 42.98 8.37 7.31 27.05 18.78 167.2

65 Bansal Wire Inds. Ltd. Wires & ropes of iron & steel 91.86 112.21 0.93 0.85 10.67 5.13 2.71 5.53 3% 5% 30.34 25.17 16.74 15 44.9 56.32 5.6 9.78 8.14 7.87 168.4

66 Gujarat Intrux Ltd. Steel castings 24.64 30.77 0.78 0.76 8.03 8.52 4.97 5.74 20% 19% 62.83 56.84 55.53 49.55 35.76 38.39 19.88 20.75 25.5 24.38 168.9

67 Harsha Engineers Ltd. Other fabricated metal products 195.73 238.8 0.65 0.68 1.46 1.72 33.32 50.08 17% 21% NA 79.85 28.98 66.39 NA 85.75 NA 3.5 NA 14.96 169.1

68 Raipur Rotocast Ltd. Articles of iron & steel 35.91 33.87 0.77 0.78 13.40 16.57 1.92 2.79 5% 8% 40.17 49.66 36.49 33.24 24.42 50.2 16.69 26.08 9.58 10.45 169.9

69 S T I Sanoh India Ltd. ERW tubes & pipes 71.17 88.89 0.61 0.60 1.46 1.75 11.97 15.99 17% 18% 37.64 42.39 79.6 58.34 61.3 65.13 11.7 10.2 8.77 9.54 170.3

70 Vishal Malleables Ltd. Castings 59.16 61.71 0.74 0.80 2.66 2.70 3.14 3.84 5% 6% 45.13 53.14 74.45 81.69 22.31 21.39 19.02 15.44 9.94 13.13 170.4

71 Bhawani Industries Ltd. Tubes & pipes 227.09 251.44 0.94 0.91 7.05 6.35 11.12 15.57 5% 6% 27.83 33.8 9.01 9.82 42.24 52.19 3.49 9.21 11.23 10.76 170.5

72 Vignyan Industries Ltd. Castings & forgings 20.92 28.57 0.64 0.60 4.29 5.31 1.82 2.17 9% 8% 3.88 9.1 49.68 49.89 47.04 36.2 70.21 60.6 0.55 2.53 171.0

73 Chase Bright Steel Ltd. Bars & rods 11.25 14.82 0.89 0.93 4.54 6.60 0.38 0.55 3% 4% 41.05 32.32 60.23 72.41 24.45 16.19 5.84 15.56 8.15 10.07 171.5

74 Mahalaxmi Seamless Ltd. Seamless tubes & pipes 27.88 35.61 0.77 0.58 3.57 2.66 3.91 6.96 14% 20% 53.46 48.67 62.41 66.67 25.57 52.01 41.59 32.63 6.57 8.13 176.4

75 J V R Forgings Ltd. Forgings 55.74 79.86 0.76 0.77 5.10 4.30 4.28 4.93 8% 6% NA 69.59 66.4 79.04 NA 41.78 NA 28.12 NA 7.8 177.4

76 Oswal Industries Ltd. Steel castings 23.62 51.14 0.57 0.75 0.78 1.62 4.84 11.54 20% 23% NA 94.12 56.83 151.79 NA 27.42 NA 32.47 NA 13.12 177.4

77 Tamboli Castings Ltd. Castings 11.5 21.68 0.49 0.54 1.03 1.28 2.65 5.6 23% 26% 81.89 93.64 71.51 37.31 39.22 38.83 54.97 43.13 6.34 39.9 180.7

78 Graham Firth Steel Products (India) Ltd. Cold rolled coils, strips, sheets 1.87 13.62 1.96 0.98 1.07 3.56 -1.1 -1.65 -59% -12% 343.13 80.45 583.83 234.27 134.67 32.65 9.75 6.72 44.64 12.1 181.1

79 Simplex Castings Ltd. Castings 135.5 149.83 0.65 0.68 2.16 2.08 16.27 19.76 12% 13% 67.91 79.24 71.98 86.48 55.84 64.86 39.58 37.41 4.96 3.91 181.6

80 Gunnebo India Ltd. Metal furnitures & fixtures 116.72 80.49 0.72 0.63 6.80 3.44 -18.22 3.83 -16% 5% 109.59 125.62 82.81 102.33 30.53 37.34 16.65 19.3 14.38 22.95 183.3

81 Billets Elektro Werke Ltd. Tools, implements, etc. 29.98 37.05 0.69 0.59 6.28 3.30 3.46 7.04 12% 19% 29.1 36.15 69.73 68.54 8.66 20.65 80.29 74.59 29.6 15.46 183.4

82 J K Talabot Ltd. Files 2.13 13.14 1.46 0.54 0.15 0.36 -0.83 2.8 -39% 21% 31.44 9.24 211.68 66.77 210.27 75.78 69.06 25.28 2.17 1.39 183.6

83 Unitech Power Transmission Ltd. Heavy structurals (Bridges & bridge sect, 84.17 68.01 0.64 0.97 4.81 4.64 9.87 6.33 12% 9% 104.34 160.4 92.94 129.64 36.49 38.28 17.76 6.01 47.95 73.08 184.4

84 Lamina Foundries Ltd. Cast iron castings 39.03 40.48 0.72 0.77 6.10 4.38 3.18 2.89 8% 7% 26.4 27.26 96 95.18 25.69 27.27 90.42 80.61 1.56 2.4 186.1

85 Nile Ltd. Other fabricated metal products 80.48 114.97 0.80 0.83 4.09 5.95 8.33 14.01 10% 12% 43.7 31.79 55.57 40.09 57.57 49.76 89.84 73.35 0.95 4.52 186.9

86 Castron Technologies Ltd. Ferro alloys 10.14 18.56 0.93 0.63 2.42 2.04 0.74 3.09 7% 17% 82.67 31.61 194.45 78.72 294.93 184.67 4.04 0.43 24.39 14.09 189.7

87 G M R Ferro Alloys & Inds. Ltd. Ferro chromium 136.13 141.43 0.52 0.88 2.59 4.99 5.98 11.73 4% 8% NA 40.92 94.64 35.06 NA 118.55 NA 1.29 NA 19.09 190.2

88 Richardson & Cruddas (1972) Ltd. Structures 54.47 63.18 0.22 0.24 0.85 1.14 -7.29 -26.77 -13% -42% 334.08 300.83 324.99 288.76 63.17 62.7 124.11 196.47 0.8 1.05 192.8

89 Hoganas India Ltd. Granules & powders of pig iron, etc. 90.95 120.68 0.84 0.77 3.54 3.46 14.97 15.69 16% 13% 42.66 35.52 62.05 49.91 39.95 38.03 21.53 15.92 37.61 39.46 192.8

90 Uni Deritend Ltd. Castings 85.34 94.17 0.54 0.62 2.81 2.91 15.78 15.38 18% 16% 90.01 95.97 72.06 67.49 81.05 83.57 49.98 60.76 12.36 9.56 193.0

91 Thangam Steel Ltd. Semi-finished Steel 26.27 81.08 1.02 0.85 8.84 15.35 1.4 3.17 5% 4% 62.3 47.09 48.31 72.83 41.56 88.77 16.49 10.07 47.44 9.74 194.1

92 India Steel Works Ltd. Bars & rods 84.37 249.07 0.83 1.07 0.35 1.33 25.51 31.23 30% 13% 85.52 41.43 109.43 95.15 41.25 35 0 22.72 1.41 7.74 197.5

93 Jash Engineering Ltd. Table, kitchen articles of iron & steel 23.63 33.79 0.69 0.69 1.67 1.86 3.49 5.14 15% 15% NA 68.9 103.76 103.77 NA 71.83 NA 31.46 NA 6.82 199.4

94 Sree Metaliks Ltd. Sponge iron 232.81 296.93 0.69 0.69 0.79 0.84 42.99 88.15 18% 30% NA 27.76 74.92 83.78 NA 63.17 NA 1.71 NA 28.41 199.4

95 Indsil Hydro Power & Manganese Ltd. Ferro silicon 34.87 52.71 0.46 0.62 0.28 0.60 10.58 11.75 30% 22% 37.09 17.68 126.45 53.02 276.94 173.4 2.87 1.64 51.98 24.29 202.3

96 Binjrajka Steel Tubes Ltd. Tubes & pipes 34.41 37.68 1.10 1.05 10.85 13.00 0.42 0.75 1% 2% NA 10.3 30.51 57.91 NA 32.69 NA 8.66 NA 39 203.3

97 Gemini Steel Tubes Ltd. ERW tubes & pipes 60.95 38.45 0.76 0.95 2.52 1.46 6.09 5.77 10% 15% 64.95 91.31 46.03 72.5 24.32 24.54 20.28 68.93 12.44 25.93 205.8

98 Bihar Sponge Iron Ltd. Sponge iron 162.96 195.99 0.90 0.88 1.13 1.40 6.27 32.95 4% 17% 10.55 10.36 47.32 81.36 69.62 44.61 0.55 0.52 28.55 46.3 206.0

99 Inox India Ltd. Reservoirs, tanks & other fabrications 130.92 193.85 0.62 0.61 2.55 2.28 30.78 41.48 24% 21% 26.79 27.77 105.73 104.95 73.7 72.11 100.83 104.91 2.9 2.34 206.3

100 Steel & Industrial Forgings Ltd. Forgings 42.49 52.27 0.67 0.62 6.86 8.59 4.19 7.62 10% 15% 80.76 82.77 105.18 142.09 134.52 166.85 31.14 25.26 18.6 15.56 207.0

101 Samrat Forgings Ltd. Forgings 29.61 36.58 0.75 0.78 4.19 4.16 3.48 4.5 12% 12% 33.76 42.05 92.56 96.69 69.52 62.05 66.57 89.64 2.28 4.3 208.9

102 Tayo Rolls Ltd. Flat products 195.75 214.21 0.76 0.77 4.76 3.02 23.4 19.44 12% 9% 69.26 59.68 96.3 86.04 40.52 43.15 32.51 35.91 14.24 14.14 209.3

103 Gontermann-Peipers (India) Ltd. Flat products 151.95 177.28 0.63 0.58 0.84 0.88 31.96 36.35 21% 21% 66.61 67.42 73.75 90.96 48.97 68.99 19.4 23.67 23.93 21.41 209.8

104 G K W Ltd. Screws, bolts, nuts, rivets, washers, etc. 115.01 119.52 0.78 0.80 1.06 1.32 14.49 268.6 13% 225% 58.06 75.48 204.71 128.61 73.44 69.54 61.31 56.76 12.24 8.51 212.9

105 A M D Industries Ltd. Crown caps 70.25 84.9 0.75 0.71 1.00 0.74 10.41 13.08 15% 15% 84.31 68.41 151.93 97.12 136.66 134.18 26.78 16.72 14.88 11.44 213.4

106 Impex Ferro Tech Ltd. Ferro alloys 174.43 264.06 0.87 0.79 3.77 2.50 12.81 25.05 7% 9% 28.35 23.13 78.79 85.23 323.14 240.27 51.82 20.52 4.8 3.39 213.7

107 Ankit Metal & Power Ltd. Finished Steel (Non-Alloy Steel) 194.85 283.83 0.89 0.89 1.50 1.56 24.12 52.71 12% 19% 45.12 38.1 97.49 75.92 205.07 155.09 14.06 8.46 6.21 13.68 215.4

108 Rajendra Mechanical Inds. Ltd. Tubes & pipes 119.97 175.98 0.94 0.86 2.90 3.91 12.52 21.01 10% 12% 34.76 42.61 70.18 43.51 49.3 44.4 94.96 83.35 16.17 15.65 215.6

109 Scan Steels Ltd. Stainless steel bars & rods 262.05 269.21 1.02 0.88 1.83 1.35 25.72 34.61 10% 13% 32.5 37.29 57.38 55.36 78.49 65.33 7.5 10.32 20.1 22.58 216.4

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 108: Reinventing the Supply Chain

110 Orient Steel & Inds. Ltd. Hot rolled coils, strips, sheets 132.69 148.75 0.92 0.94 14.16 14.49 4.64 5.06 3% 3% 37.91 30.23 68.6 79.96 67.08 64.43 5.92 10.59 15.85 16.58 218.8

111 Shivalik Bimetal Controls Ltd. Hot rolled coils, strips, sheets 63.04 73.45 0.56 0.59 1.80 2.28 12.47 12.18 20% 17% 135.46 116.73 106.97 91.84 70.71 78.8 37.12 34.13 54.74 45.08 218.8

112 I U P Jindal Metals & Alloys Ltd. Cold rolled coils, strips, sheets 150.62 78.38 0.97 0.98 2.12 1.15 2.38 -14.09 2% -18% 38.77 118.48 50.39 153.04 5.15 14.64 36.94 47.84 12.61 26.45 221.3

113 Mohindra Fasteners Ltd. Screws, bolts, nuts, rivets, washers, etc. 41.7 50.24 0.65 0.65 1.19 1.21 6.53 8.64 16% 17% 70.22 74.79 123.84 114.79 58.6 72.36 24.62 30.54 15.63 16.29 221.6

114 De Nora India Ltd. Miscellaneous articles of base metals, nec 22.77 21.32 0.26 0.34 0.75 1.01 8.69 7.04 38% 33% 113.15 117.44 96.69 89.81 436.56 474.99 53.51 51.58 31.4 18.92 221.9

115 Proseal Closures Ltd. Stoppers, caps & lids (including crown caps) 31.24 36.75 0.74 0.61 2.14 2.11 3.57 5.07 11% 14% 28.93 34.7 85.3 84.2 49.47 56.52 16.95 20.53 50.8 48.47 222.0

116 Super Forgings & Steels Ltd. Forgings 53.7 70.33 0.66 0.91 2.32 4.92 0.79 2.4 1% 3% 164.73 150.49 138 136.05 80.96 63.71 21.44 27.41 33.03 20.13 223.6

117 Porwal Auto Components Ltd. Cast iron castings 28.18 35.72 0.79 0.83 0.79 0.90 2.71 4.66 10% 13% 8.11 22.74 54.89 44.28 54.55 59.53 23.06 30.59 10.73 15.11 228.1

118 Hilton Metal Forging Ltd. Forgings 59.38 88.71 0.75 0.76 3.84 2.34 8.41 9.04 14% 10% 48.84 38.9 79.83 82.05 96.82 128.81 34.34 30.06 18.09 10.78 230.2

119 Ipisteel Ltd. Bars & rods 18.78 37.91 1.05 0.86 2.59 4.44 2.93 1.03 16% 3% 27.94 15.83 177.56 149.39 74.8 64.91 5.87 6.63 12.57 26.29 236.4

120 Lakshmi Precision Screws Ltd. Screws, bolts, nuts, rivets, washers, etc. 193.63 209.02 0.60 0.63 2.61 2.45 26.84 32.23 14% 15% 65.32 77.4 96.38 102.31 207.6 206.42 31.3 41.42 50.75 55.24 244.1

121 Raja Forgings & Gears Ltd. Forgings 45.22 45.66 0.69 0.62 1.18 0.96 6.97 9.6 15% 21% 100.42 110.1 53.45 171.79 86.28 144.25 181.88 257.22 36.27 33.34 247.7

122 Taparia Tools Ltd. Hand tools 91.27 112.21 0.68 0.86 15.28 24.99 4.9 6.31 5% 6% 34.91 31.51 80.95 89.15 83.14 85.51 42.46 38.23 29.32 34.73 257.1

123 Indian Steel & Wire Products Ltd. Castings 97.25 79.27 0.62 0.66 0.65 0.59 12.12 -5.18 12% -7% 40.42 48.08 115.44 178.7 173.79 192.2 19.49 29.03 11.29 14.39 261.1

124 Hindustan Everest Tools Ltd. Hand tools 28.14 30.82 0.71 0.69 3.08 2.88 1.43 0.89 5% 3% 61.6 63.49 103.13 85.62 157.51 145.55 45.69 42.23 104.98 103.6 261.4

125 Shree Ganesh Forgings Ltd. Forgings 97.12 110.47 0.97 0.93 2.59 1.96 11.9 1.83 12% 2% 109.89 87.36 138.61 110.5 172.17 140.3 294.34 228.05 25.52 37.66 280.7

1 Shaw Wallace & Co. Ltd. [Merged] Liquors 212.95 204.13 0.26 0.28 3.24 1.49 99.58 94.19 47% 46% 28.77 38.45 35.22 45.35 16.36 18.27 1.22 1.05 2.98 3.35 89.3

2 Kothari Products Ltd. Chewing tobacco, jarda, scented tobacco 213.56 227.24 0.24 0.40 2.02 3.82 94.47 78.6 44% 35% 52.99 62.52 45.09 47.32 48.32 36.33 0.04 0.04 5.65 5.72 94.1

3 Pearl Drinks Ltd. Soft drinks 112.41 133.69 0.79 0.79 1.37 1.51 13.09 17.33 12% 13% 74.43 76.26 66.74 71.72 10.55 12.12 0.53 0.62 6.04 3.94 98.4

4 Ankur Protein Inds. Ltd. Mustard oil 71.96 107.61 0.93 0.96 10.53 17.19 1.19 2.14 2% 2% NA 12.99 17.08 14.46 NA 6.87 NA 0.39 NA 6.19 105.7

5 Nutrine Confectionery Co. Ltd. Chocolate & sugar confectionery 152.92 141.39 0.47 0.49 3.03 3.30 14.5 12.22 9% 9% 11.36 34.21 62.27 36.22 15.37 17.3 0.85 0.9 10.9 15.02 113.1

6 Amrut Distilleries Ltd. Indian made foreign liquors 98.68 136.4 0.38 0.29 8.34 8.28 6.54 11.12 7% 8% NA 31.19 22.82 15.59 NA 39.84 NA 3.07 NA 1.05 117.9

7 G M Breweries Ltd. Rectified spirit 172.96 185.64 0.42 0.36 1.35 1.03 22.05 26.95 13% 15% 0.44 0.29 15.61 12.9 17.29 12.19 2.55 2.81 0.07 0.2 118.5

8 Zydus Wellness Ltd. Protein concentrates 43.58 57.49 0.60 0.54 3.49 1.82 7.05 7.88 16% 14% 4.89 7.26 27.04 52.33 18.51 10.2 0.07 0.05 11 11.43 119.6

9 S M Milkose Ltd. Dairy products 74.06 78.95 0.91 1.00 26.45 35.82 1.64 1.71 2% 2% 47.19 44.43 10.11 53.81 1.42 1.15 1.33 0.94 18 19.14 120.8

10 Domino'S Pizza India Ltd. Pizzas 137.84 209.98 0.48 0.49 1.36 1.30 16.04 26.43 12% 13% 1.67 1.69 46.58 51.18 22.54 20.76 0.14 0.22 0.31 0.2 121.6

11 Priya Food Products Ltd. Biscuits 53.13 57.37 0.69 0.66 5.37 4.87 2.4 1.94 5% 3% 22.31 31.04 20.58 30.52 27.83 36.07 0.12 0.52 3.54 3.69 122.2

12 Southern Agrifurane Inds. Ltd. Indian made foreign liquors 130.96 161.83 0.29 0.33 1.05 1.49 12.42 14.65 9% 9% 11.73 10.61 23.35 35.35 18.73 15.01 3.19 3.27 1.75 2.2 122.4

13 Devi Fisheries Ltd. Shrimps 127.57 100.11 0.80 0.82 33.10 27.16 5.11 4.4 4% 4% NA 14.09 1.35 3.13 NA 0.3 NA 0.69 NA 65.07 128.9

14 Ajanta Soya Ltd. Vanaspati 199.61 245.57 0.93 0.97 14.74 20.11 3.26 2.74 2% 1% 17.43 16.18 21.23 17.73 8.25 7.73 6.2 5.11 2.97 2.71 131.9

15 Indo Nissin Foods Ltd. Noodles 40.52 58.9 0.36 0.46 0.94 1.73 5.38 8.01 13% 14% 36.91 33.65 102.29 65.8 25.14 16.82 1.51 1.68 17.69 18.16 132.2

16 Kerala Feeds Ltd. Cattle feed 115.34 146.24 0.85 0.86 5.41 7.56 -0.68 -1.04 -1% -1% 10.31 9.34 43.05 40.3 34.85 29.86 0.03 0.1 5.35 3.17 140.9

17 Kohinoor Feeds & Fats Ltd. Edible oils 63.67 93.03 0.87 0.92 9.78 16.37 2.31 2.87 4% 3% NA 29.19 5.59 2.33 NA 29.72 NA 4.57 NA 2.99 141.6

18 S D F Industries Ltd. Ethyl alcohol (strength less than 80%) - 5.13 11.8 0.31 0.75 0.14 2.35 0.59 -7.15 12% -61% 80.74 57.92 173.12 120.49 13.34 13.25 3.17 1.09 5.33 7.63 147.4

19 Prakash Oils Ltd. Vegetable oils 193.09 274.86 0.95 0.94 49.35 61.11 4.62 4.1 2% 1% NA 7.46 8.54 5.43 NA 28.54 NA 2.31 NA 3.87 147.6

20 I F B Agro Inds. Ltd. Rectified spirit 149.52 166.44 0.76 0.77 2.33 2.38 20.38 18.12 14% 11% 17.99 12.02 34.2 25.88 33.44 32.13 1.16 0.78 11.37 10.65 147.7

21 Mount Everest Mineral Water Ltd. Mineral waters 24.69 26.7 0.38 0.67 0.59 1.02 2.8 -4.33 11% -16% 82.55 160.64 40.05 33.74 30.28 30.36 4.65 1.23 4.07 11.03 148.2

22 Gayatri Bioorganics Ltd. Starches 31.96 41.22 0.87 0.93 0.85 1.21 22.33 8.2 70% 20% 28.12 35.53 103.38 40.29 19.33 18.84 5.68 4.17 2.93 8.23 149.0

23 Tasty Bite Eatables Ltd. Semi processed snacks & foods,nec (Ready- 30.74 36.87 0.71 0.72 2.11 2.38 2.14 3.51 7% 10% 98.06 81.44 104.78 72.38 60.23 56.31 2.53 3.41 0.94 2.09 151.4

24 Lotus Chocolate Co. Ltd. Chocolate confectionery 22.33 23.73 0.71 0.75 3.74 4.48 2.49 2.07 11% 9% 52.47 45.75 38.21 38.07 34.69 40.65 1.88 2.64 10.14 10.78 151.4

25 Mount Shivalik Inds. Ltd. Beer 50.36 85.77 0.29 0.25 0.84 1.12 3.93 10.28 8% 12% 42.08 29.49 55.75 40.98 41.17 33.81 7.23 5.71 4.54 4.44 156.6

26 Vegetable Products Ltd. Vanaspati 36.43 40.67 0.94 1.00 3.73 4.69 -3.99 0.8 -11% 2% NA 0.31 34.41 41.39 NA 1.93 NA 1.53 NA 15.36 156.7

27 Godavari Edible Bran Oil Ltd. Vegetable oils 61.22 82.58 0.98 0.98 7.72 8.65 2.24 3.08 4% 4% 15.32 15.89 27.13 49.23 6.59 7.92 3.27 2.98 16.56 21.11 159.5

28 Sudha Agro Oil & Chemical Inds. Ltd. Rice bran oil 100.6 155.84 0.80 0.85 1.93 3.56 12.5 18.53 12% 12% 25.5 24.34 28.74 23.93 27.82 27.78 5.77 4.96 9.8 11.06 160.5

29 Milk Specialities Ltd. Milk powder 72.15 80.57 0.85 0.95 5.55 7.06 3.79 4.37 5% 5% 44.77 35.43 15.62 11.13 10.88 9.64 3.72 3.89 86.64 88.12 160.5

fooD & BeverAge

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers106

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 109: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 107

110 Orient Steel & Inds. Ltd. Hot rolled coils, strips, sheets 132.69 148.75 0.92 0.94 14.16 14.49 4.64 5.06 3% 3% 37.91 30.23 68.6 79.96 67.08 64.43 5.92 10.59 15.85 16.58 218.8

111 Shivalik Bimetal Controls Ltd. Hot rolled coils, strips, sheets 63.04 73.45 0.56 0.59 1.80 2.28 12.47 12.18 20% 17% 135.46 116.73 106.97 91.84 70.71 78.8 37.12 34.13 54.74 45.08 218.8

112 I U P Jindal Metals & Alloys Ltd. Cold rolled coils, strips, sheets 150.62 78.38 0.97 0.98 2.12 1.15 2.38 -14.09 2% -18% 38.77 118.48 50.39 153.04 5.15 14.64 36.94 47.84 12.61 26.45 221.3

113 Mohindra Fasteners Ltd. Screws, bolts, nuts, rivets, washers, etc. 41.7 50.24 0.65 0.65 1.19 1.21 6.53 8.64 16% 17% 70.22 74.79 123.84 114.79 58.6 72.36 24.62 30.54 15.63 16.29 221.6

114 De Nora India Ltd. Miscellaneous articles of base metals, nec 22.77 21.32 0.26 0.34 0.75 1.01 8.69 7.04 38% 33% 113.15 117.44 96.69 89.81 436.56 474.99 53.51 51.58 31.4 18.92 221.9

115 Proseal Closures Ltd. Stoppers, caps & lids (including crown caps) 31.24 36.75 0.74 0.61 2.14 2.11 3.57 5.07 11% 14% 28.93 34.7 85.3 84.2 49.47 56.52 16.95 20.53 50.8 48.47 222.0

116 Super Forgings & Steels Ltd. Forgings 53.7 70.33 0.66 0.91 2.32 4.92 0.79 2.4 1% 3% 164.73 150.49 138 136.05 80.96 63.71 21.44 27.41 33.03 20.13 223.6

117 Porwal Auto Components Ltd. Cast iron castings 28.18 35.72 0.79 0.83 0.79 0.90 2.71 4.66 10% 13% 8.11 22.74 54.89 44.28 54.55 59.53 23.06 30.59 10.73 15.11 228.1

118 Hilton Metal Forging Ltd. Forgings 59.38 88.71 0.75 0.76 3.84 2.34 8.41 9.04 14% 10% 48.84 38.9 79.83 82.05 96.82 128.81 34.34 30.06 18.09 10.78 230.2

119 Ipisteel Ltd. Bars & rods 18.78 37.91 1.05 0.86 2.59 4.44 2.93 1.03 16% 3% 27.94 15.83 177.56 149.39 74.8 64.91 5.87 6.63 12.57 26.29 236.4

120 Lakshmi Precision Screws Ltd. Screws, bolts, nuts, rivets, washers, etc. 193.63 209.02 0.60 0.63 2.61 2.45 26.84 32.23 14% 15% 65.32 77.4 96.38 102.31 207.6 206.42 31.3 41.42 50.75 55.24 244.1

121 Raja Forgings & Gears Ltd. Forgings 45.22 45.66 0.69 0.62 1.18 0.96 6.97 9.6 15% 21% 100.42 110.1 53.45 171.79 86.28 144.25 181.88 257.22 36.27 33.34 247.7

122 Taparia Tools Ltd. Hand tools 91.27 112.21 0.68 0.86 15.28 24.99 4.9 6.31 5% 6% 34.91 31.51 80.95 89.15 83.14 85.51 42.46 38.23 29.32 34.73 257.1

123 Indian Steel & Wire Products Ltd. Castings 97.25 79.27 0.62 0.66 0.65 0.59 12.12 -5.18 12% -7% 40.42 48.08 115.44 178.7 173.79 192.2 19.49 29.03 11.29 14.39 261.1

124 Hindustan Everest Tools Ltd. Hand tools 28.14 30.82 0.71 0.69 3.08 2.88 1.43 0.89 5% 3% 61.6 63.49 103.13 85.62 157.51 145.55 45.69 42.23 104.98 103.6 261.4

125 Shree Ganesh Forgings Ltd. Forgings 97.12 110.47 0.97 0.93 2.59 1.96 11.9 1.83 12% 2% 109.89 87.36 138.61 110.5 172.17 140.3 294.34 228.05 25.52 37.66 280.7

1 Shaw Wallace & Co. Ltd. [Merged] Liquors 212.95 204.13 0.26 0.28 3.24 1.49 99.58 94.19 47% 46% 28.77 38.45 35.22 45.35 16.36 18.27 1.22 1.05 2.98 3.35 89.3

2 Kothari Products Ltd. Chewing tobacco, jarda, scented tobacco 213.56 227.24 0.24 0.40 2.02 3.82 94.47 78.6 44% 35% 52.99 62.52 45.09 47.32 48.32 36.33 0.04 0.04 5.65 5.72 94.1

3 Pearl Drinks Ltd. Soft drinks 112.41 133.69 0.79 0.79 1.37 1.51 13.09 17.33 12% 13% 74.43 76.26 66.74 71.72 10.55 12.12 0.53 0.62 6.04 3.94 98.4

4 Ankur Protein Inds. Ltd. Mustard oil 71.96 107.61 0.93 0.96 10.53 17.19 1.19 2.14 2% 2% NA 12.99 17.08 14.46 NA 6.87 NA 0.39 NA 6.19 105.7

5 Nutrine Confectionery Co. Ltd. Chocolate & sugar confectionery 152.92 141.39 0.47 0.49 3.03 3.30 14.5 12.22 9% 9% 11.36 34.21 62.27 36.22 15.37 17.3 0.85 0.9 10.9 15.02 113.1

6 Amrut Distilleries Ltd. Indian made foreign liquors 98.68 136.4 0.38 0.29 8.34 8.28 6.54 11.12 7% 8% NA 31.19 22.82 15.59 NA 39.84 NA 3.07 NA 1.05 117.9

7 G M Breweries Ltd. Rectified spirit 172.96 185.64 0.42 0.36 1.35 1.03 22.05 26.95 13% 15% 0.44 0.29 15.61 12.9 17.29 12.19 2.55 2.81 0.07 0.2 118.5

8 Zydus Wellness Ltd. Protein concentrates 43.58 57.49 0.60 0.54 3.49 1.82 7.05 7.88 16% 14% 4.89 7.26 27.04 52.33 18.51 10.2 0.07 0.05 11 11.43 119.6

9 S M Milkose Ltd. Dairy products 74.06 78.95 0.91 1.00 26.45 35.82 1.64 1.71 2% 2% 47.19 44.43 10.11 53.81 1.42 1.15 1.33 0.94 18 19.14 120.8

10 Domino'S Pizza India Ltd. Pizzas 137.84 209.98 0.48 0.49 1.36 1.30 16.04 26.43 12% 13% 1.67 1.69 46.58 51.18 22.54 20.76 0.14 0.22 0.31 0.2 121.6

11 Priya Food Products Ltd. Biscuits 53.13 57.37 0.69 0.66 5.37 4.87 2.4 1.94 5% 3% 22.31 31.04 20.58 30.52 27.83 36.07 0.12 0.52 3.54 3.69 122.2

12 Southern Agrifurane Inds. Ltd. Indian made foreign liquors 130.96 161.83 0.29 0.33 1.05 1.49 12.42 14.65 9% 9% 11.73 10.61 23.35 35.35 18.73 15.01 3.19 3.27 1.75 2.2 122.4

13 Devi Fisheries Ltd. Shrimps 127.57 100.11 0.80 0.82 33.10 27.16 5.11 4.4 4% 4% NA 14.09 1.35 3.13 NA 0.3 NA 0.69 NA 65.07 128.9

14 Ajanta Soya Ltd. Vanaspati 199.61 245.57 0.93 0.97 14.74 20.11 3.26 2.74 2% 1% 17.43 16.18 21.23 17.73 8.25 7.73 6.2 5.11 2.97 2.71 131.9

15 Indo Nissin Foods Ltd. Noodles 40.52 58.9 0.36 0.46 0.94 1.73 5.38 8.01 13% 14% 36.91 33.65 102.29 65.8 25.14 16.82 1.51 1.68 17.69 18.16 132.2

16 Kerala Feeds Ltd. Cattle feed 115.34 146.24 0.85 0.86 5.41 7.56 -0.68 -1.04 -1% -1% 10.31 9.34 43.05 40.3 34.85 29.86 0.03 0.1 5.35 3.17 140.9

17 Kohinoor Feeds & Fats Ltd. Edible oils 63.67 93.03 0.87 0.92 9.78 16.37 2.31 2.87 4% 3% NA 29.19 5.59 2.33 NA 29.72 NA 4.57 NA 2.99 141.6

18 S D F Industries Ltd. Ethyl alcohol (strength less than 80%) - 5.13 11.8 0.31 0.75 0.14 2.35 0.59 -7.15 12% -61% 80.74 57.92 173.12 120.49 13.34 13.25 3.17 1.09 5.33 7.63 147.4

19 Prakash Oils Ltd. Vegetable oils 193.09 274.86 0.95 0.94 49.35 61.11 4.62 4.1 2% 1% NA 7.46 8.54 5.43 NA 28.54 NA 2.31 NA 3.87 147.6

20 I F B Agro Inds. Ltd. Rectified spirit 149.52 166.44 0.76 0.77 2.33 2.38 20.38 18.12 14% 11% 17.99 12.02 34.2 25.88 33.44 32.13 1.16 0.78 11.37 10.65 147.7

21 Mount Everest Mineral Water Ltd. Mineral waters 24.69 26.7 0.38 0.67 0.59 1.02 2.8 -4.33 11% -16% 82.55 160.64 40.05 33.74 30.28 30.36 4.65 1.23 4.07 11.03 148.2

22 Gayatri Bioorganics Ltd. Starches 31.96 41.22 0.87 0.93 0.85 1.21 22.33 8.2 70% 20% 28.12 35.53 103.38 40.29 19.33 18.84 5.68 4.17 2.93 8.23 149.0

23 Tasty Bite Eatables Ltd. Semi processed snacks & foods,nec (Ready- 30.74 36.87 0.71 0.72 2.11 2.38 2.14 3.51 7% 10% 98.06 81.44 104.78 72.38 60.23 56.31 2.53 3.41 0.94 2.09 151.4

24 Lotus Chocolate Co. Ltd. Chocolate confectionery 22.33 23.73 0.71 0.75 3.74 4.48 2.49 2.07 11% 9% 52.47 45.75 38.21 38.07 34.69 40.65 1.88 2.64 10.14 10.78 151.4

25 Mount Shivalik Inds. Ltd. Beer 50.36 85.77 0.29 0.25 0.84 1.12 3.93 10.28 8% 12% 42.08 29.49 55.75 40.98 41.17 33.81 7.23 5.71 4.54 4.44 156.6

26 Vegetable Products Ltd. Vanaspati 36.43 40.67 0.94 1.00 3.73 4.69 -3.99 0.8 -11% 2% NA 0.31 34.41 41.39 NA 1.93 NA 1.53 NA 15.36 156.7

27 Godavari Edible Bran Oil Ltd. Vegetable oils 61.22 82.58 0.98 0.98 7.72 8.65 2.24 3.08 4% 4% 15.32 15.89 27.13 49.23 6.59 7.92 3.27 2.98 16.56 21.11 159.5

28 Sudha Agro Oil & Chemical Inds. Ltd. Rice bran oil 100.6 155.84 0.80 0.85 1.93 3.56 12.5 18.53 12% 12% 25.5 24.34 28.74 23.93 27.82 27.78 5.77 4.96 9.8 11.06 160.5

29 Milk Specialities Ltd. Milk powder 72.15 80.57 0.85 0.95 5.55 7.06 3.79 4.37 5% 5% 44.77 35.43 15.62 11.13 10.88 9.64 3.72 3.89 86.64 88.12 160.5

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ERank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 110: Reinventing the Supply Chain

30 C C L Products (India) Ltd. Coffee 219 255.86 0.61 0.67 0.55 0.68 52.29 61.02 24% 24% 58.14 56.6 30.07 43.78 51.91 61.83 0.43 0.54 8.83 22.57 160.6

31 Pearl Beverages Ltd. Soft drinks 59.57 60.16 0.65 0.65 0.63 0.65 11.34 11.63 19% 19% 20.83 24.63 132.31 144.38 34.19 32.2 0.89 0.77 4.06 4.45 160.7

32 Tilaknagar Industries Ltd. Indian made foreign liquors 90.17 140.98 0.28 0.27 1.22 0.31 17.9 32.3 20% 23% 66.24 58.9 89.74 90.82 61.8 60.08 1.46 2.29 5.19 8.29 163.1

33 Shri Gang Inds. & Allied Products Ltd. Vanaspati 127.82 146.7 0.98 0.96 18.87 24.72 -6.67 -5.63 -5% -4% 6.08 4.97 7.74 18.37 8.73 6.22 5.77 6.29 10.39 9.71 165.9

34 Raj Agro Mills Ltd. Vanaspati 80.66 115.72 0.89 0.94 8.65 14.24 3.1 4.53 4% 4% 27.54 29.43 52.36 62.43 46.75 34.52 3.97 3.44 6.82 6.86 170.6

35 Lords Distillery Ltd. Indian made foreign liquors 59.62 208.96 0.33 0.84 1.89 12.84 2.45 3.08 4% 1% NA 6.12 16.49 9.66 NA 25.78 NA 8.14 NA 1.28 170.7

36 Empee Distilleries Ltd. Indian made foreign liquors 130.2 167.01 0.65 0.66 1.57 1.41 23.09 37.56 18% 22% 8.09 8.46 24.81 16.74 47.85 44.67 9.37 7.76 2.49 1.1 173.7

37 Ramdev Food Products Ltd. Other spices 68.8 80.07 0.67 0.64 3.18 3.45 5.8 8.1 8% 10% 16.38 18.14 33.75 33.78 31.58 25.02 13.08 15.95 9.71 10.01 174.8

38 Millennium Beer Inds. Ltd. Beer 133.66 184.15 0.27 0.28 0.59 0.60 5.26 14.08 4% 8% 127.03 72.62 165.14 80.67 31.66 25.69 17.92 20.98 9.26 3.11 176.1

39 Chamong Tea Co. Ltd. Tea 14.37 16.31 0.45 0.38 1.09 1.11 0.34 1.09 2% 7% 14.16 10.18 38.96 19.71 57.97 55.67 0.35 0.66 34.84 19.3 176.6

40 Patliputra Industries Ltd. Vanaspati 8.05 10.66 0.95 0.90 1.85 2.69 0.99 1 12% 9% 37.67 33.73 101.5 86.16 38.98 14.89 20.82 12.51 8.24 6.6 176.9

41 Sita Shree Food Products Ltd. Wheat flour 80.77 95.08 0.95 0.95 11.55 11.98 2.78 3.98 3% 4% 23.62 50.55 30.64 67.03 27.07 25.87 14.95 12.03 5.41 5.5 177.3

42 Raghuvar (India) Ltd. Vanaspati 127.4 167.46 0.86 0.97 24.42 39.63 3.06 3.74 2% 2% 8.04 10.89 44.67 40.14 29.7 19.36 7.21 5.68 7.14 8.93 177.8

43 Pioneer Agro Extracts Ltd. Vanaspati 72.17 58.77 0.91 0.92 10.69 8.15 1.78 1.91 2% 3% 12.18 16.52 28.76 37.08 4.11 7.02 10.84 13.44 10.89 15.85 178.2

44 Dharani Sugars & Chemicals Ltd. Sugar 275.08 199.44 0.62 0.97 1.64 1.68 48.04 5.75 17% 3% 19.32 23.08 17.94 27.88 14.44 9.57 3.77 2.78 55.28 65.14 180.2

45 Deesan Agro-Tech Ltd. Vegetable oils 147.07 200.7 0.88 0.88 12.88 16.47 4.93 7.52 3% 4% NA 20.97 3.72 30.31 NA 45.71 NA 4.98 NA 7.06 180.7

46 Bacardi-Martini India Ltd. Indian made foreign liquors 65.59 76.15 0.21 0.25 2.01 1.72 5.13 -8.54 8% -11% 70.09 70.46 66.96 85.21 191.21 203.99 2.97 2.53 6.43 5.65 180.8

47 Tikaula Sugar Mills Ltd. Sugar 156.45 82.21 0.25 1.29 0.69 1.54 20.84 10.49 13% 13% 2.94 7.68 21.06 60.61 4.03 1.83 1.19 0.08 152.78 216.5 181.7

48 Blossom Industries Ltd. Beer 65.76 76.15 0.21 0.21 0.75 0.32 14.36 13.34 22% 18% 10.11 13.88 47.28 69.88 36.73 35.01 6.31 5.16 8.27 6.13 181.9

49 A V T Mccormick Ingrediants Pvt. Ltd. Spices & Condiments 104.56 140.82 0.70 0.74 6.14 10.89 12.22 13.84 12% 10% 63.49 70.73 32.62 27.39 163.31 152.29 19.48 25.9 12.19 1.65 182.5

50 Sukhjit Starch & Chemicals Ltd. Starches 162.22 180.11 0.76 0.79 1.75 1.78 31.19 30.93 19% 17% 33.66 36.94 32.75 41.92 68.13 84.06 5.23 5.9 5.53 6.73 185.3

51 Mohan Rocky Springwater Breweries Ltd. Indian made foreign liquors 29.42 31.45 0.41 0.44 4.20 5.50 1.56 2.59 5% 8% 19.86 24.75 50.61 57.27 46.44 51.46 10.13 11.58 6.52 4.07 185.5

52 Camson Bio Technologies Ltd. Agriseed 17.53 41.89 0.53 0.47 1.19 1.50 4.06 8.8 23% 21% 29.89 29.13 24.27 20.46 25.27 13.25 128.15 132.76 49.01 34.81 185.6

53 M T R Foods Ltd. Instant & semi-processed foods (Packaged 157.9 185.57 0.57 0.57 1.58 0.99 24.1 30.78 15% 17% 14.1 13.74 68.32 51.72 47.15 48.34 2.98 4.05 7.26 8.07 185.7

54 Capital Foods Ltd. Sauces & ketchup 26.45 50.29 0.46 0.55 2.06 1.23 1.19 1.73 4% 3% 37.29 37.58 59.84 64.42 58.57 82.84 0.83 0.94 8.75 12.46 186.1

55 Mihijam Vanaspati Ltd. Vanaspati 55.12 62.71 0.89 0.89 16.00 20.78 0.84 0.96 2% 2% 57.75 76.13 70.32 113.41 17.49 36.45 6.64 6.2 6.23 4.22 186.4

56 A D F Foods Ltd. Semi processed snacks & foods,nec (Ready- 78.31 88.71 0.38 0.39 0.79 0.80 13.96 16.4 18% 18% 28.83 27.25 31.02 30.68 42.96 42.05 37.85 31.51 3.83 3.49 186.5

57 Sri Sarvaraya Sugars Ltd. Sugar 195.08 188.81 0.65 0.82 1.14 1.32 41.09 28.35 21% 15% 11.15 14.04 55.64 71.55 32.6 34.31 0.17 0.14 19.93 35.81 186.7

58 Jay Shree Tea & Inds. Ltd. Tea 249.99 282.51 0.67 0.65 1.46 1.25 20.68 27.81 8% 10% 30.82 32.4 24.37 33.57 77.56 77.59 0.62 1.12 34.37 29.9 186.9

59 Tirupati Starch & Chemicals Ltd. Maize starch 38.15 44.76 0.81 0.77 3.66 4.32 4.25 5.07 11% 11% 25.69 31.2 35.57 26.78 47.6 70.4 8.2 8.17 13.17 8.15 187.5

60 Empee Sugars & Chemicals Ltd. Sugar 100.38 57.58 0.77 0.97 2.63 1.24 15 5.74 15% 10% 13.8 21.75 30.57 65.83 9.88 12.86 1.94 2.42 22.02 57.24 189.5

61 Umang Dairies Ltd. Dairy products 43.21 37.25 0.27 1.04 0.90 2.66 -0.1 0.52 0% 1% 9.03 10.48 86.91 119.61 21.71 10.74 0.81 1.32 60.66 20.38 189.8

62 Unique Sugars Ltd. Other sweetening agents 64.06 62.92 0.74 0.81 2.25 2.61 5.76 5.41 9% 9% 37.45 45.08 92.87 53.22 42.42 68.23 5.32 4.76 5.52 10.7 191.3

63 Ponni Sugars (Erode) Ltd. Sugar 139.75 144.06 0.84 0.83 2.68 2.51 11.37 0.52 8% 0% 1.95 9.14 66.25 63.44 6.13 7.5 2.05 1.97 102.4 91.48 193.2

64 Indage Vintners Ltd. Wines 117.04 178.33 0.48 0.50 0.50 0.70 35.15 73.94 30% 41% 131.8 134.17 226.71 97.41 25.65 18.84 638.01 1365.25 13.71 15.42 193.7

65 Brihan Maharashtra Sugar Syndicate Ltd. Ethyl alcohol (strength less than 80%) - 92.13 113.45 0.44 0.36 1.71 1.73 4.95 6.07 5% 5% 29.8 31.26 78.35 86.53 32.09 26.27 20.42 18.96 8.4 8.34 194.4

66 Sayaji Industries Ltd. Starches 197.08 217.39 0.75 0.75 2.92 2.77 8.98 10.62 5% 5% 30.06 30.6 44.76 56.86 34.75 35.64 6.06 5.97 11.64 13.38 195.1

67 Lotte India Corpn. Ltd. Chocolate & sugar confectionery 146.83 153.25 0.56 0.65 1.33 1.59 8.67 0.66 6% 0% 7.72 9.66 50.75 53 26.23 28.55 1.78 2.1 26.98 29.96 195.5

68 India Sugars & Refineries Ltd. Sugar 54.84 27.62 0.65 2.28 1.69 3.01 10.95 -6.17 20% -22% 38.47 75.07 96.5 174.92 11.62 7.37 0.82 0.59 101.94 195.72 195.7

69 Keventer Agro Ltd. Fruit juice 94.92 115.12 0.78 0.76 2.00 2.27 7.51 7.88 8% 7% 24.21 40.28 41.83 49.51 36 42.8 12.6 12.93 6.77 7.87 198.2

70 Godrej Hershey Ltd. Tea incl. instant tea 175.71 195.8 0.79 0.89 3.13 3.03 -2.15 -7.96 -1% -4% 37.88 51.37 74.73 116.7 55.85 38.99 6.43 1.45 18.71 21.85 199.7

71 Mahaan Foods Ltd. Milk powder 67.78 92.48 0.92 0.81 9.98 11.45 2.39 3.5 4% 4% 3.33 7.78 50.89 45.68 8.18 8.78 17.72 20.07 30.31 22.83 200.3

72 G M R Industries Ltd. Sugar 193.39 160 0.44 0.67 0.31 0.22 59.5 38.57 31% 24% 63.02 65.22 78.67 153.9 105.23 24.29 4.62 4.45 63.61 37.63 200.4

73 Hindustan Breweries & Bottling Ltd. Beer 21.5 20.46 0.60 0.69 0.91 1.05 2.16 2.47 10% 12% 44.65 47.8 173.87 164.45 34.52 39.35 6.27 7.78 2.29 3.49 201.0

74 Gem Sugars Ltd. Sugar 92.08 92.82 1.58 1.16 1.33 0.84 34.51 24.38 37% 26% NA 56.31 144.74 277.34 NA 11.99 NA 0.93 NA 326.54 201.7

75 Asia Pacific Commodities Ltd. Vegetable oils 155.34 170.48 1.01 0.93 6.78 7.25 5.65 7.39 4% 4% 17.25 37.71 31.71 65.15 17.15 28.41 7.43 7.51 19.88 24.3 201.9

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers108

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 111: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 109

30 C C L Products (India) Ltd. Coffee 219 255.86 0.61 0.67 0.55 0.68 52.29 61.02 24% 24% 58.14 56.6 30.07 43.78 51.91 61.83 0.43 0.54 8.83 22.57 160.6

31 Pearl Beverages Ltd. Soft drinks 59.57 60.16 0.65 0.65 0.63 0.65 11.34 11.63 19% 19% 20.83 24.63 132.31 144.38 34.19 32.2 0.89 0.77 4.06 4.45 160.7

32 Tilaknagar Industries Ltd. Indian made foreign liquors 90.17 140.98 0.28 0.27 1.22 0.31 17.9 32.3 20% 23% 66.24 58.9 89.74 90.82 61.8 60.08 1.46 2.29 5.19 8.29 163.1

33 Shri Gang Inds. & Allied Products Ltd. Vanaspati 127.82 146.7 0.98 0.96 18.87 24.72 -6.67 -5.63 -5% -4% 6.08 4.97 7.74 18.37 8.73 6.22 5.77 6.29 10.39 9.71 165.9

34 Raj Agro Mills Ltd. Vanaspati 80.66 115.72 0.89 0.94 8.65 14.24 3.1 4.53 4% 4% 27.54 29.43 52.36 62.43 46.75 34.52 3.97 3.44 6.82 6.86 170.6

35 Lords Distillery Ltd. Indian made foreign liquors 59.62 208.96 0.33 0.84 1.89 12.84 2.45 3.08 4% 1% NA 6.12 16.49 9.66 NA 25.78 NA 8.14 NA 1.28 170.7

36 Empee Distilleries Ltd. Indian made foreign liquors 130.2 167.01 0.65 0.66 1.57 1.41 23.09 37.56 18% 22% 8.09 8.46 24.81 16.74 47.85 44.67 9.37 7.76 2.49 1.1 173.7

37 Ramdev Food Products Ltd. Other spices 68.8 80.07 0.67 0.64 3.18 3.45 5.8 8.1 8% 10% 16.38 18.14 33.75 33.78 31.58 25.02 13.08 15.95 9.71 10.01 174.8

38 Millennium Beer Inds. Ltd. Beer 133.66 184.15 0.27 0.28 0.59 0.60 5.26 14.08 4% 8% 127.03 72.62 165.14 80.67 31.66 25.69 17.92 20.98 9.26 3.11 176.1

39 Chamong Tea Co. Ltd. Tea 14.37 16.31 0.45 0.38 1.09 1.11 0.34 1.09 2% 7% 14.16 10.18 38.96 19.71 57.97 55.67 0.35 0.66 34.84 19.3 176.6

40 Patliputra Industries Ltd. Vanaspati 8.05 10.66 0.95 0.90 1.85 2.69 0.99 1 12% 9% 37.67 33.73 101.5 86.16 38.98 14.89 20.82 12.51 8.24 6.6 176.9

41 Sita Shree Food Products Ltd. Wheat flour 80.77 95.08 0.95 0.95 11.55 11.98 2.78 3.98 3% 4% 23.62 50.55 30.64 67.03 27.07 25.87 14.95 12.03 5.41 5.5 177.3

42 Raghuvar (India) Ltd. Vanaspati 127.4 167.46 0.86 0.97 24.42 39.63 3.06 3.74 2% 2% 8.04 10.89 44.67 40.14 29.7 19.36 7.21 5.68 7.14 8.93 177.8

43 Pioneer Agro Extracts Ltd. Vanaspati 72.17 58.77 0.91 0.92 10.69 8.15 1.78 1.91 2% 3% 12.18 16.52 28.76 37.08 4.11 7.02 10.84 13.44 10.89 15.85 178.2

44 Dharani Sugars & Chemicals Ltd. Sugar 275.08 199.44 0.62 0.97 1.64 1.68 48.04 5.75 17% 3% 19.32 23.08 17.94 27.88 14.44 9.57 3.77 2.78 55.28 65.14 180.2

45 Deesan Agro-Tech Ltd. Vegetable oils 147.07 200.7 0.88 0.88 12.88 16.47 4.93 7.52 3% 4% NA 20.97 3.72 30.31 NA 45.71 NA 4.98 NA 7.06 180.7

46 Bacardi-Martini India Ltd. Indian made foreign liquors 65.59 76.15 0.21 0.25 2.01 1.72 5.13 -8.54 8% -11% 70.09 70.46 66.96 85.21 191.21 203.99 2.97 2.53 6.43 5.65 180.8

47 Tikaula Sugar Mills Ltd. Sugar 156.45 82.21 0.25 1.29 0.69 1.54 20.84 10.49 13% 13% 2.94 7.68 21.06 60.61 4.03 1.83 1.19 0.08 152.78 216.5 181.7

48 Blossom Industries Ltd. Beer 65.76 76.15 0.21 0.21 0.75 0.32 14.36 13.34 22% 18% 10.11 13.88 47.28 69.88 36.73 35.01 6.31 5.16 8.27 6.13 181.9

49 A V T Mccormick Ingrediants Pvt. Ltd. Spices & Condiments 104.56 140.82 0.70 0.74 6.14 10.89 12.22 13.84 12% 10% 63.49 70.73 32.62 27.39 163.31 152.29 19.48 25.9 12.19 1.65 182.5

50 Sukhjit Starch & Chemicals Ltd. Starches 162.22 180.11 0.76 0.79 1.75 1.78 31.19 30.93 19% 17% 33.66 36.94 32.75 41.92 68.13 84.06 5.23 5.9 5.53 6.73 185.3

51 Mohan Rocky Springwater Breweries Ltd. Indian made foreign liquors 29.42 31.45 0.41 0.44 4.20 5.50 1.56 2.59 5% 8% 19.86 24.75 50.61 57.27 46.44 51.46 10.13 11.58 6.52 4.07 185.5

52 Camson Bio Technologies Ltd. Agriseed 17.53 41.89 0.53 0.47 1.19 1.50 4.06 8.8 23% 21% 29.89 29.13 24.27 20.46 25.27 13.25 128.15 132.76 49.01 34.81 185.6

53 M T R Foods Ltd. Instant & semi-processed foods (Packaged 157.9 185.57 0.57 0.57 1.58 0.99 24.1 30.78 15% 17% 14.1 13.74 68.32 51.72 47.15 48.34 2.98 4.05 7.26 8.07 185.7

54 Capital Foods Ltd. Sauces & ketchup 26.45 50.29 0.46 0.55 2.06 1.23 1.19 1.73 4% 3% 37.29 37.58 59.84 64.42 58.57 82.84 0.83 0.94 8.75 12.46 186.1

55 Mihijam Vanaspati Ltd. Vanaspati 55.12 62.71 0.89 0.89 16.00 20.78 0.84 0.96 2% 2% 57.75 76.13 70.32 113.41 17.49 36.45 6.64 6.2 6.23 4.22 186.4

56 A D F Foods Ltd. Semi processed snacks & foods,nec (Ready- 78.31 88.71 0.38 0.39 0.79 0.80 13.96 16.4 18% 18% 28.83 27.25 31.02 30.68 42.96 42.05 37.85 31.51 3.83 3.49 186.5

57 Sri Sarvaraya Sugars Ltd. Sugar 195.08 188.81 0.65 0.82 1.14 1.32 41.09 28.35 21% 15% 11.15 14.04 55.64 71.55 32.6 34.31 0.17 0.14 19.93 35.81 186.7

58 Jay Shree Tea & Inds. Ltd. Tea 249.99 282.51 0.67 0.65 1.46 1.25 20.68 27.81 8% 10% 30.82 32.4 24.37 33.57 77.56 77.59 0.62 1.12 34.37 29.9 186.9

59 Tirupati Starch & Chemicals Ltd. Maize starch 38.15 44.76 0.81 0.77 3.66 4.32 4.25 5.07 11% 11% 25.69 31.2 35.57 26.78 47.6 70.4 8.2 8.17 13.17 8.15 187.5

60 Empee Sugars & Chemicals Ltd. Sugar 100.38 57.58 0.77 0.97 2.63 1.24 15 5.74 15% 10% 13.8 21.75 30.57 65.83 9.88 12.86 1.94 2.42 22.02 57.24 189.5

61 Umang Dairies Ltd. Dairy products 43.21 37.25 0.27 1.04 0.90 2.66 -0.1 0.52 0% 1% 9.03 10.48 86.91 119.61 21.71 10.74 0.81 1.32 60.66 20.38 189.8

62 Unique Sugars Ltd. Other sweetening agents 64.06 62.92 0.74 0.81 2.25 2.61 5.76 5.41 9% 9% 37.45 45.08 92.87 53.22 42.42 68.23 5.32 4.76 5.52 10.7 191.3

63 Ponni Sugars (Erode) Ltd. Sugar 139.75 144.06 0.84 0.83 2.68 2.51 11.37 0.52 8% 0% 1.95 9.14 66.25 63.44 6.13 7.5 2.05 1.97 102.4 91.48 193.2

64 Indage Vintners Ltd. Wines 117.04 178.33 0.48 0.50 0.50 0.70 35.15 73.94 30% 41% 131.8 134.17 226.71 97.41 25.65 18.84 638.01 1365.25 13.71 15.42 193.7

65 Brihan Maharashtra Sugar Syndicate Ltd. Ethyl alcohol (strength less than 80%) - 92.13 113.45 0.44 0.36 1.71 1.73 4.95 6.07 5% 5% 29.8 31.26 78.35 86.53 32.09 26.27 20.42 18.96 8.4 8.34 194.4

66 Sayaji Industries Ltd. Starches 197.08 217.39 0.75 0.75 2.92 2.77 8.98 10.62 5% 5% 30.06 30.6 44.76 56.86 34.75 35.64 6.06 5.97 11.64 13.38 195.1

67 Lotte India Corpn. Ltd. Chocolate & sugar confectionery 146.83 153.25 0.56 0.65 1.33 1.59 8.67 0.66 6% 0% 7.72 9.66 50.75 53 26.23 28.55 1.78 2.1 26.98 29.96 195.5

68 India Sugars & Refineries Ltd. Sugar 54.84 27.62 0.65 2.28 1.69 3.01 10.95 -6.17 20% -22% 38.47 75.07 96.5 174.92 11.62 7.37 0.82 0.59 101.94 195.72 195.7

69 Keventer Agro Ltd. Fruit juice 94.92 115.12 0.78 0.76 2.00 2.27 7.51 7.88 8% 7% 24.21 40.28 41.83 49.51 36 42.8 12.6 12.93 6.77 7.87 198.2

70 Godrej Hershey Ltd. Tea incl. instant tea 175.71 195.8 0.79 0.89 3.13 3.03 -2.15 -7.96 -1% -4% 37.88 51.37 74.73 116.7 55.85 38.99 6.43 1.45 18.71 21.85 199.7

71 Mahaan Foods Ltd. Milk powder 67.78 92.48 0.92 0.81 9.98 11.45 2.39 3.5 4% 4% 3.33 7.78 50.89 45.68 8.18 8.78 17.72 20.07 30.31 22.83 200.3

72 G M R Industries Ltd. Sugar 193.39 160 0.44 0.67 0.31 0.22 59.5 38.57 31% 24% 63.02 65.22 78.67 153.9 105.23 24.29 4.62 4.45 63.61 37.63 200.4

73 Hindustan Breweries & Bottling Ltd. Beer 21.5 20.46 0.60 0.69 0.91 1.05 2.16 2.47 10% 12% 44.65 47.8 173.87 164.45 34.52 39.35 6.27 7.78 2.29 3.49 201.0

74 Gem Sugars Ltd. Sugar 92.08 92.82 1.58 1.16 1.33 0.84 34.51 24.38 37% 26% NA 56.31 144.74 277.34 NA 11.99 NA 0.93 NA 326.54 201.7

75 Asia Pacific Commodities Ltd. Vegetable oils 155.34 170.48 1.01 0.93 6.78 7.25 5.65 7.39 4% 4% 17.25 37.71 31.71 65.15 17.15 28.41 7.43 7.51 19.88 24.3 201.9

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 112: Reinventing the Supply Chain

76 Candico (I) Ltd. Chocolate & sugar confectionery 59.37 57.69 0.72 0.54 1.83 1.46 -1.09 2.28 -2% 4% 36.34 33.48 55.48 44.98 34.49 47.68 0.99 3.13 47.01 39.11 202.1

77 Malt Company (India) Ltd. Malt and malt extract 50.14 64.67 0.71 0.67 1.08 1.30 7.1 9.93 14% 15% 54.27 42.47 113 102.58 160.51 159.09 5.05 5.19 8.36 5.34 203.7

78 Gobind Sugar Mills Ltd. Sugar 217.22 157.22 0.60 1.10 2.87 3.31 54.57 -5.53 25% -4% 1.44 2.62 26.61 70.48 5.68 6.81 1.14 1.02 117.45 136.55 204.6

79 S B E C Sugar Ltd. Sugar 194.69 273.37 0.79 1.48 2.10 5.76 19.88 -8.17 10% -3% 0.5 2.44 84.9 139.52 12.08 6.1 0.76 0.97 0.96 48.04 205.8

80 Universal Starch-Chem Allied Ltd. Starches 79.27 82.01 0.77 0.83 1.67 1.91 8.14 6.42 10% 8% 49.8 45.42 40.42 56.6 88.76 79.77 4.56 5.16 8.27 11.27 206.6

81 Venus Sugar Ltd. Sugar 61.02 52.19 0.40 1.45 0.49 1.63 7.12 -4.02 12% -8% 0.45 0.44 47.43 60.33 11.62 7.12 0 0.28 134.92 130.67 207.1

82 Avanti Feeds Ltd. Other animal feed 121.8 106.11 0.85 0.78 2.81 2.46 8.11 9.57 7% 9% 50.91 50.03 30.38 17.62 68.22 93.91 4.84 4.65 27.59 38.96 207.2

83 Srinivasa Hatcheries Ltd. Poultry 67.58 87.14 0.84 0.82 1.79 1.94 4.7 9.34 7% 11% 3.43 2.93 56.12 45.61 3.31 5.76 17.45 18.08 21.06 36.75 207.5

84 Winsome Breweries Ltd. Beer 47 32.34 0.27 0.34 1.28 1.44 2.06 2.41 4% 7% 89.87 96.8 159.02 125.63 32.38 38.91 9.82 16.66 10.85 13.08 211.1

85 Edible Products (India) Ltd. Edible oils 75.58 85.58 0.86 0.95 86.29 123.50 0.61 0.95 1% 1% 11.98 10.68 6.08 4.5 57.7 53.45 9.28 10.49 17.12 9.83 212.1

86 S S D Oil Mills Co. Ltd. Edible oils 250.03 297.21 0.91 0.97 17.39 11.41 6.37 8.64 3% 3% 15.04 15.11 61.48 78.18 24.8 25.96 3.88 4.05 34.18 38.07 213.1

87 Himalya International Ltd. Mushroom 31.51 46.76 0.45 0.29 0.42 0.26 7.11 12.73 23% 27% 94.64 78.57 39.58 18.46 37.48 41.36 36.03 37.77 74.91 57.77 214.3

88 J K Sugar Ltd. Sugar 116.76 103.51 0.86 1.36 1.15 1.69 3.46 9.77 3% 9% 11.82 15.08 197.31 83.72 6.88 6.59 3.53 3.7 182.7 254.22 214.5

89 Indian Extractions Ltd. Oil cakes & meals 56.98 61.37 0.96 0.97 8.86 3.29 0.76 1.29 1% 2% 28.79 18.46 23.71 18.42 27.38 30.14 8.15 7.27 21.76 32.73 215.0

90 Gayatri Sugars Ltd. Sugar 93.38 62.27 0.80 1.18 0.97 0.90 13.08 7.02 14% 11% 20.76 27.76 64 95.34 8.03 11.99 0 2.76 146.59 206.11 215.1

91 Kothari Sugars & Chemicals Ltd. Sugar 230.22 260.89 0.79 0.84 0.95 1.08 29.59 28.22 13% 11% 8.52 9.32 109.92 140.35 11 11.58 2.77 3.46 35.55 45.5 215.5

92 Mohan Meakin Ltd. Indian made foreign liquors 266.64 271.36 0.61 0.60 4.60 4.59 12.5 12.78 5% 5% 40.52 50.12 66.78 75.17 56.22 69.49 5.87 6.5 25.55 28.78 215.8

93 Indian Wood Products Co. Ltd. Products of food, beverages & tobacco, nec 33.73 30.6 0.71 0.56 9.97 6.43 3.09 2.26 9% 7% 119.02 141.44 104.19 105.16 22.67 30.36 32.79 37.3 36.03 34.92 216.1

94 Om Oil & Flour Mills Ltd. Spices & Condiments 38.01 45.84 0.65 0.58 1.69 1.10 3.79 3.94 10% 9% NA 13.92 84.55 99.69 NA 61.09 NA 2.46 NA 20.48 217.2

95 Innovative Foods Ltd. Shrimps 16.47 21.91 0.61 0.67 0.84 1.26 -1.88 -3.07 -11% -14% 27.65 51.07 78.03 55.33 9.21 15.39 26.36 31.34 18.02 33.7 217.2

96 K M Sugar Mills Ltd. Sugar 413.72 111.75 0.86 1.30 3.78 1.22 26.42 -6.31 6% -6% 8.31 14.78 9.05 101.99 24.48 16.14 0.25 0.94 13.71 62.78 218.7

97 Kesar Enterprises Ltd. Sugar 213.46 204.57 0.76 1.23 2.52 3.25 32.94 -0.51 15% 0% 16.83 17.95 41.1 93.89 22 20.2 3.09 2.26 91.11 120.96 221.1

98 Sir Shadi Lal Enterprises Ltd. Sugar 236.67 168.42 0.57 2.30 1.48 2.95 11.85 -23.86 5% -14% 10.5 9.17 26.19 27.23 23.65 17.95 2.74 2.73 111.82 190.17 222.3

99 Cosmos Industries Ltd. Sugar 51.96 63.69 1.18 0.66 2.56 1.58 9.46 7.81 18% 12% 8.42 17.02 108.49 107.94 9.15 12.67 7.17 10.76 108.31 104.27 222.9

100 Sunrise Spices Ltd. Spices & Condiments 41.41 46.57 0.75 0.78 5.07 4.84 2.58 3.59 6% 8% 20.35 22.5 66.36 60.04 39.42 44.79 10.82 11.33 17.81 23.25 224.0

101 Naraingarh Sugar Mills Ltd. Sugar 62.9 67.96 1.23 1.09 1.78 1.69 11.03 8.58 18% 13% 17.92 24.1 78.9 96.61 7.11 7.7 8.84 5.94 272.82 313.06 225.6

102 Ravalgaon Sugar Farm Ltd. Sugar 47.62 67.39 1.62 0.82 3.63 2.91 -0.78 8.15 -2% 12% 12.59 9.14 125.09 88.33 21.38 20.85 2.67 3.78 246.49 225.84 226.4

103 Crown Milk Specialities Pvt. Ltd. Skimmed milk powder 12.94 17.9 0.87 0.90 1.59 0.66 0.76 1.06 6% 6% NA 18.13 27.06 80.14 NA 3.83 NA 10.12 NA 88.96 227.4

104 Golden Tobacco Ltd. Cigarettes 189.14 160.35 0.39 0.47 0.97 1.02 32.41 23.52 17% 15% 29.57 34.25 171.31 110.06 226 256.69 5.61 7.93 5.95 8.59 228.2

105 Kaira Can Co. Ltd. Milk 176.5 165.87 0.87 0.81 15.93 14.63 4.81 5.28 3% 3% 17.56 16.61 60.33 52.16 48.84 31.94 82.96 87.73 16.77 20.43 228.8

106 Prudential Sugar Corpn. Ltd. Sugar 88.25 71.94 0.86 0.75 1.92 1.46 7.96 -10.32 9% -14% 33.13 48.2 77.29 119.12 27.54 31.81 4.25 4.14 77.41 56.37 230.3

107 Piccadily Agro Inds. Ltd. Sugar 71.63 117.02 0.98 0.79 1.38 1.29 6.61 8.22 9% 7% 13.43 7.89 293.35 213.44 5.82 4.58 7.87 4.48 242.26 164.89 230.5

108 Sri Chamundeswari Sugars Ltd. Sugar 146.79 152.48 0.86 0.74 0.56 0.36 35.17 22.16 24% 15% 27.11 21.21 108.31 225.94 17.18 23.1 2.83 4.62 38.72 56.02 230.9

109 Empire Spices & Foods Ltd. Spices & Condiments 19.5 23.42 0.61 0.59 3.75 2.33 1.13 1.61 6% 7% 48.17 49.91 66.48 94.91 46.65 63.65 18.62 26.93 20.45 17.18 232.9

110 State Farms Corpn. Of India Ltd. Foodgrain 71.7 106.49 0.83 0.83 2.52 3.12 12.6 18.83 18% 18% 110.82 98.59 132.85 98.73 41.13 29.16 255.83 184.2 102.05 105.93 233.8

111 Grover Vineyards Ltd. Wines 13.46 21.24 0.66 0.70 2.44 2.24 2.29 2.77 17% 13% 111.78 99.55 103.54 106.41 62.95 45 210.14 230.06 11.53 27.9 234.6

112 Indian Sucrose Ltd. Sugar 99.07 107.64 1.09 0.80 1.82 1.55 16.95 10.84 17% 10% 17.45 23.2 123.56 185.3 13.22 16.8 1.96 5.4 174.97 181.01 234.6

113 Dwarikesh Sugar Inds. Ltd. Sugar 235.81 227.42 0.62 1.38 0.52 0.56 47.56 22.99 20% 10% 0.95 1.2 32.74 145.3 19.67 18.27 0.08 0.09 58.42 97.71 235.2

114 Kothari Fermentation & Biochem Ltd. yeasts 19.65 10 0.71 0.85 1.53 0.71 3.05 4.49 16% 45% 129.12 152.72 34.02 73.52 16.9 72.58 9.31 19.74 8.19 29.3 236.6

115 Flex Foods Ltd. Mushroom 35.92 42.02 0.45 0.39 0.36 0.38 10.32 12.63 29% 30% 71.05 78.37 74.95 52.47 103.86 117.29 20.9 18.59 61.53 52.62 236.6

116 Rajasthan State Ganganagar Sugar Mills Ltd. Sugar 241.32 244.2 0.64 0.70 16.85 15.77 4.32 3.19 2% 1% 0.42 0.63 53.83 59.44 68.1 71.56 3.91 4.07 21.76 30.96 238.4

117 Technico Agri Sciences Ltd. Agriseed 21.61 31.04 0.26 0.23 0.35 0.61 7.26 12.71 34% 41% 35.19 17.46 174.64 90.4 80.15 70.97 8.96 2.72 365.43 375.79 238.6

118 K C P Sugar & Inds. Corpn. Ltd. Sugar 304.59 226.31 0.69 0.73 1.34 1.11 50 25.55 16% 11% 12.28 12.76 147.47 113.73 16.49 17.32 3.94 5.28 148.4 182.85 239.0

119 Advanta India Ltd. Hybrid seeds 75.7 130.04 0.37 0.89 1.76 1.37 40.33 31.63 53% 24% 28.36 78.17 114 146.1 20348.75 27.46 26.56 13.71 61.74 123.56 239.6

120 Rasoi Ltd. Vanaspati 143.88 156.28 0.97 0.89 3.90 4.13 4.66 5.28 3% 3% 9.87 12.44 70.2 110.98 20.34 34.24 7.97 11.49 14.55 16.44 241.6

121 Jindal Vegetable Products Ltd. Vegetable oils 11.03 13.17 0.85 0.89 2.51 3.11 -0.57 0.49 -5% 4% 7.49 9.27 162.44 164.35 50.44 21.5 17.05 8.48 17.66 24.35 243.9

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers110

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 113: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 111

76 Candico (I) Ltd. Chocolate & sugar confectionery 59.37 57.69 0.72 0.54 1.83 1.46 -1.09 2.28 -2% 4% 36.34 33.48 55.48 44.98 34.49 47.68 0.99 3.13 47.01 39.11 202.1

77 Malt Company (India) Ltd. Malt and malt extract 50.14 64.67 0.71 0.67 1.08 1.30 7.1 9.93 14% 15% 54.27 42.47 113 102.58 160.51 159.09 5.05 5.19 8.36 5.34 203.7

78 Gobind Sugar Mills Ltd. Sugar 217.22 157.22 0.60 1.10 2.87 3.31 54.57 -5.53 25% -4% 1.44 2.62 26.61 70.48 5.68 6.81 1.14 1.02 117.45 136.55 204.6

79 S B E C Sugar Ltd. Sugar 194.69 273.37 0.79 1.48 2.10 5.76 19.88 -8.17 10% -3% 0.5 2.44 84.9 139.52 12.08 6.1 0.76 0.97 0.96 48.04 205.8

80 Universal Starch-Chem Allied Ltd. Starches 79.27 82.01 0.77 0.83 1.67 1.91 8.14 6.42 10% 8% 49.8 45.42 40.42 56.6 88.76 79.77 4.56 5.16 8.27 11.27 206.6

81 Venus Sugar Ltd. Sugar 61.02 52.19 0.40 1.45 0.49 1.63 7.12 -4.02 12% -8% 0.45 0.44 47.43 60.33 11.62 7.12 0 0.28 134.92 130.67 207.1

82 Avanti Feeds Ltd. Other animal feed 121.8 106.11 0.85 0.78 2.81 2.46 8.11 9.57 7% 9% 50.91 50.03 30.38 17.62 68.22 93.91 4.84 4.65 27.59 38.96 207.2

83 Srinivasa Hatcheries Ltd. Poultry 67.58 87.14 0.84 0.82 1.79 1.94 4.7 9.34 7% 11% 3.43 2.93 56.12 45.61 3.31 5.76 17.45 18.08 21.06 36.75 207.5

84 Winsome Breweries Ltd. Beer 47 32.34 0.27 0.34 1.28 1.44 2.06 2.41 4% 7% 89.87 96.8 159.02 125.63 32.38 38.91 9.82 16.66 10.85 13.08 211.1

85 Edible Products (India) Ltd. Edible oils 75.58 85.58 0.86 0.95 86.29 123.50 0.61 0.95 1% 1% 11.98 10.68 6.08 4.5 57.7 53.45 9.28 10.49 17.12 9.83 212.1

86 S S D Oil Mills Co. Ltd. Edible oils 250.03 297.21 0.91 0.97 17.39 11.41 6.37 8.64 3% 3% 15.04 15.11 61.48 78.18 24.8 25.96 3.88 4.05 34.18 38.07 213.1

87 Himalya International Ltd. Mushroom 31.51 46.76 0.45 0.29 0.42 0.26 7.11 12.73 23% 27% 94.64 78.57 39.58 18.46 37.48 41.36 36.03 37.77 74.91 57.77 214.3

88 J K Sugar Ltd. Sugar 116.76 103.51 0.86 1.36 1.15 1.69 3.46 9.77 3% 9% 11.82 15.08 197.31 83.72 6.88 6.59 3.53 3.7 182.7 254.22 214.5

89 Indian Extractions Ltd. Oil cakes & meals 56.98 61.37 0.96 0.97 8.86 3.29 0.76 1.29 1% 2% 28.79 18.46 23.71 18.42 27.38 30.14 8.15 7.27 21.76 32.73 215.0

90 Gayatri Sugars Ltd. Sugar 93.38 62.27 0.80 1.18 0.97 0.90 13.08 7.02 14% 11% 20.76 27.76 64 95.34 8.03 11.99 0 2.76 146.59 206.11 215.1

91 Kothari Sugars & Chemicals Ltd. Sugar 230.22 260.89 0.79 0.84 0.95 1.08 29.59 28.22 13% 11% 8.52 9.32 109.92 140.35 11 11.58 2.77 3.46 35.55 45.5 215.5

92 Mohan Meakin Ltd. Indian made foreign liquors 266.64 271.36 0.61 0.60 4.60 4.59 12.5 12.78 5% 5% 40.52 50.12 66.78 75.17 56.22 69.49 5.87 6.5 25.55 28.78 215.8

93 Indian Wood Products Co. Ltd. Products of food, beverages & tobacco, nec 33.73 30.6 0.71 0.56 9.97 6.43 3.09 2.26 9% 7% 119.02 141.44 104.19 105.16 22.67 30.36 32.79 37.3 36.03 34.92 216.1

94 Om Oil & Flour Mills Ltd. Spices & Condiments 38.01 45.84 0.65 0.58 1.69 1.10 3.79 3.94 10% 9% NA 13.92 84.55 99.69 NA 61.09 NA 2.46 NA 20.48 217.2

95 Innovative Foods Ltd. Shrimps 16.47 21.91 0.61 0.67 0.84 1.26 -1.88 -3.07 -11% -14% 27.65 51.07 78.03 55.33 9.21 15.39 26.36 31.34 18.02 33.7 217.2

96 K M Sugar Mills Ltd. Sugar 413.72 111.75 0.86 1.30 3.78 1.22 26.42 -6.31 6% -6% 8.31 14.78 9.05 101.99 24.48 16.14 0.25 0.94 13.71 62.78 218.7

97 Kesar Enterprises Ltd. Sugar 213.46 204.57 0.76 1.23 2.52 3.25 32.94 -0.51 15% 0% 16.83 17.95 41.1 93.89 22 20.2 3.09 2.26 91.11 120.96 221.1

98 Sir Shadi Lal Enterprises Ltd. Sugar 236.67 168.42 0.57 2.30 1.48 2.95 11.85 -23.86 5% -14% 10.5 9.17 26.19 27.23 23.65 17.95 2.74 2.73 111.82 190.17 222.3

99 Cosmos Industries Ltd. Sugar 51.96 63.69 1.18 0.66 2.56 1.58 9.46 7.81 18% 12% 8.42 17.02 108.49 107.94 9.15 12.67 7.17 10.76 108.31 104.27 222.9

100 Sunrise Spices Ltd. Spices & Condiments 41.41 46.57 0.75 0.78 5.07 4.84 2.58 3.59 6% 8% 20.35 22.5 66.36 60.04 39.42 44.79 10.82 11.33 17.81 23.25 224.0

101 Naraingarh Sugar Mills Ltd. Sugar 62.9 67.96 1.23 1.09 1.78 1.69 11.03 8.58 18% 13% 17.92 24.1 78.9 96.61 7.11 7.7 8.84 5.94 272.82 313.06 225.6

102 Ravalgaon Sugar Farm Ltd. Sugar 47.62 67.39 1.62 0.82 3.63 2.91 -0.78 8.15 -2% 12% 12.59 9.14 125.09 88.33 21.38 20.85 2.67 3.78 246.49 225.84 226.4

103 Crown Milk Specialities Pvt. Ltd. Skimmed milk powder 12.94 17.9 0.87 0.90 1.59 0.66 0.76 1.06 6% 6% NA 18.13 27.06 80.14 NA 3.83 NA 10.12 NA 88.96 227.4

104 Golden Tobacco Ltd. Cigarettes 189.14 160.35 0.39 0.47 0.97 1.02 32.41 23.52 17% 15% 29.57 34.25 171.31 110.06 226 256.69 5.61 7.93 5.95 8.59 228.2

105 Kaira Can Co. Ltd. Milk 176.5 165.87 0.87 0.81 15.93 14.63 4.81 5.28 3% 3% 17.56 16.61 60.33 52.16 48.84 31.94 82.96 87.73 16.77 20.43 228.8

106 Prudential Sugar Corpn. Ltd. Sugar 88.25 71.94 0.86 0.75 1.92 1.46 7.96 -10.32 9% -14% 33.13 48.2 77.29 119.12 27.54 31.81 4.25 4.14 77.41 56.37 230.3

107 Piccadily Agro Inds. Ltd. Sugar 71.63 117.02 0.98 0.79 1.38 1.29 6.61 8.22 9% 7% 13.43 7.89 293.35 213.44 5.82 4.58 7.87 4.48 242.26 164.89 230.5

108 Sri Chamundeswari Sugars Ltd. Sugar 146.79 152.48 0.86 0.74 0.56 0.36 35.17 22.16 24% 15% 27.11 21.21 108.31 225.94 17.18 23.1 2.83 4.62 38.72 56.02 230.9

109 Empire Spices & Foods Ltd. Spices & Condiments 19.5 23.42 0.61 0.59 3.75 2.33 1.13 1.61 6% 7% 48.17 49.91 66.48 94.91 46.65 63.65 18.62 26.93 20.45 17.18 232.9

110 State Farms Corpn. Of India Ltd. Foodgrain 71.7 106.49 0.83 0.83 2.52 3.12 12.6 18.83 18% 18% 110.82 98.59 132.85 98.73 41.13 29.16 255.83 184.2 102.05 105.93 233.8

111 Grover Vineyards Ltd. Wines 13.46 21.24 0.66 0.70 2.44 2.24 2.29 2.77 17% 13% 111.78 99.55 103.54 106.41 62.95 45 210.14 230.06 11.53 27.9 234.6

112 Indian Sucrose Ltd. Sugar 99.07 107.64 1.09 0.80 1.82 1.55 16.95 10.84 17% 10% 17.45 23.2 123.56 185.3 13.22 16.8 1.96 5.4 174.97 181.01 234.6

113 Dwarikesh Sugar Inds. Ltd. Sugar 235.81 227.42 0.62 1.38 0.52 0.56 47.56 22.99 20% 10% 0.95 1.2 32.74 145.3 19.67 18.27 0.08 0.09 58.42 97.71 235.2

114 Kothari Fermentation & Biochem Ltd. yeasts 19.65 10 0.71 0.85 1.53 0.71 3.05 4.49 16% 45% 129.12 152.72 34.02 73.52 16.9 72.58 9.31 19.74 8.19 29.3 236.6

115 Flex Foods Ltd. Mushroom 35.92 42.02 0.45 0.39 0.36 0.38 10.32 12.63 29% 30% 71.05 78.37 74.95 52.47 103.86 117.29 20.9 18.59 61.53 52.62 236.6

116 Rajasthan State Ganganagar Sugar Mills Ltd. Sugar 241.32 244.2 0.64 0.70 16.85 15.77 4.32 3.19 2% 1% 0.42 0.63 53.83 59.44 68.1 71.56 3.91 4.07 21.76 30.96 238.4

117 Technico Agri Sciences Ltd. Agriseed 21.61 31.04 0.26 0.23 0.35 0.61 7.26 12.71 34% 41% 35.19 17.46 174.64 90.4 80.15 70.97 8.96 2.72 365.43 375.79 238.6

118 K C P Sugar & Inds. Corpn. Ltd. Sugar 304.59 226.31 0.69 0.73 1.34 1.11 50 25.55 16% 11% 12.28 12.76 147.47 113.73 16.49 17.32 3.94 5.28 148.4 182.85 239.0

119 Advanta India Ltd. Hybrid seeds 75.7 130.04 0.37 0.89 1.76 1.37 40.33 31.63 53% 24% 28.36 78.17 114 146.1 20348.75 27.46 26.56 13.71 61.74 123.56 239.6

120 Rasoi Ltd. Vanaspati 143.88 156.28 0.97 0.89 3.90 4.13 4.66 5.28 3% 3% 9.87 12.44 70.2 110.98 20.34 34.24 7.97 11.49 14.55 16.44 241.6

121 Jindal Vegetable Products Ltd. Vegetable oils 11.03 13.17 0.85 0.89 2.51 3.11 -0.57 0.49 -5% 4% 7.49 9.27 162.44 164.35 50.44 21.5 17.05 8.48 17.66 24.35 243.9

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 114: Reinventing the Supply Chain

122 Tirupati Sugars Ltd. Sugar 0.15 21.82 -0.93 0.56 -0.01 0.57 0.59 -8.19 393% -38% 262.8 0.97 39588.46 474.35 0 35.8 0 4.28 22.81 6.47 244.3

123 Khoday India Ltd. Indian made foreign liquors 101.49 117.78 0.36 0.39 0.55 0.74 30.39 26.79 30% 23% 62.41 54.55 243.24 123.61 112.78 78.81 255.57 251.25 24.13 14.58 244.4

124 Vallabhdas Kanji Ltd. Spices & Condiments 134.63 168.44 0.84 0.84 2.87 3.14 18.55 19.8 14% 12% NA 118.33 90.21 93.04 NA 89.09 NA 72.35 NA 28.2 246.0

125 Pioneer Distilleries Ltd. Ethyl alcohol (strength 80% or higher) 48.05 65.44 0.77 0.45 0.65 0.42 11.71 22.91 24% 35% 3.08 8.27 55.7 55.08 74.68 99.77 5.88 9.12 25.22 26.85 247.5

126 Kanoria Sugar & General Mfg. Co. Ltd. Sugar 108.86 117.77 1.01 1.05 2.50 2.63 17.52 -15.75 16% -13% 22.48 24.16 45.63 108.41 19.45 17.78 9.13 6.57 116.77 120.69 250.0

127 United Provinces Sugar Co. Ltd. Sugar 122.65 82.73 0.49 1.27 0.77 1.15 6.22 9.93 5% 12% 0.08 1.12 99.38 99.87 16.13 17.38 1.78 3.37 169.77 246.6 250.9

128 Shakumbari Sugar & Allied Inds. Ltd. Sugar 66.62 42.1 1.63 1.86 1.85 1.18 -9.73 5.97 -15% 14% 6.04 16.8 61.21 82.61 10.27 35.4 1.58 4.05 72.15 293.48 255.3

129 Sagar Sugars & Allied Products Ltd. Sugar 138.49 118.59 0.45 0.53 0.62 0.58 30.12 28.48 22% 24% 89.79 85.08 88.81 107.52 61.96 62.58 111.3 36.3 112.82 106.39 259.4

130 Som Distilleries & Breweries Ltd. Beer 49.4 50.71 0.25 0.43 0.68 0.70 1.42 9.24 3% 18% 102.21 128.71 243.33 345.6 185.55 181.15 21.99 20.63 18.77 30.23 259.5

131 Rangar Breweries Ltd. Ethyl alcohol (strength less than 80%) - 27.77 22.91 0.47 0.49 1.09 1.00 1.29 1.85 5% 8% 60.16 105.01 138.03 223.66 63.01 112.98 38.8 41.51 15.28 20.22 259.7

132 Tamil Nadu Sugar Corpn. Ltd. Sugar 86.45 51.06 0.84 2.10 13.39 18.61 -4.44 -11.91 -5% -23% 3.61 5.81 105.93 134.09 11.2 10.47 5.21 5.92 141.29 224.05 260.7

133 Waterbase Ltd. Animal and bird feeds 57.72 39.3 0.54 0.67 0.75 0.70 6.74 5.09 12% 13% 230.42 367.16 419.22 551.91 334.27 446.86 9.8 4.58 91.32 173.64 263.1

134 Kings International Ltd. Fish, crustaceans & molluscus 15.19 15.27 0.68 0.77 2.98 3.34 1.05 1.48 7% 10% 18.86 25.7 117.15 71.6 128.11 126.66 59.76 63.13 40.26 30.42 264.9

135 Vishnu Sugar Mills Ltd. Sugar 101.91 65.47 0.67 0.69 1.78 1.20 7.01 7.18 7% 11% 1.85 3.08 121.15 112.01 11.23 20.78 5.05 7.15 219.96 308.89 265.0

136 Trident Sugars Ltd. Sugar 36.2 46.24 1.43 1.10 1.56 1.29 2.95 -15.64 8% -34% 20.07 13.46 152.71 190.48 22.24 15.18 3.6 4.74 189.86 166.09 265.7

137 Piccadily Sugar & Allied Inds. Ltd. Liquors 52.89 64.19 0.92 0.37 1.50 0.73 2.33 3.39 4% 5% 2.06 3.94 240.48 273.6 13.16 17.49 8.84 15.8 97.53 84.73 266.8

138 Global Green Co. Ltd. Pickles & chutneys 120.48 94.9 0.36 0.44 1.19 0.84 11.99 1.57 10% 2% 40.65 65.21 70.1 116.01 73.1 99.81 78.85 60.3 14.35 26.21 271.4

139 Natural Vanaspati Ltd. Vegetable oils 60.4 22.57 0.93 0.59 6.98 1.78 -2.08 -0.18 -3% -1% 26.37 54.84 133.92 320.89 20.86 73.54 8.36 18.57 30.69 37.17 272.8

140 Zuari Seeds Ltd. Hybrid seeds 24.17 31.61 0.45 0.47 1.08 1.45 2.07 2.82 9% 9% 84.75 102.64 245.96 224.6 121.3 121.8 25.9 27.38 84.45 67.83 273.2

141 Riga Sugar Co. Ltd. Sugar 115.11 83.17 0.63 1.14 1.06 1.17 18.73 -0.19 16% 0% 2.35 2.61 43.45 102.6 44.48 42.81 4.22 2.39 71.23 91.12 273.9

142 Perambalur Sugar Mills Ltd. Sugar 75.61 38.68 0.86 1.94 15.18 16.36 -7.4 -21.96 -10% -57% 2.97 2.26 104.1 145.07 13.77 17.68 10.94 10.69 137.64 199.23 286.6

143 Harinagar Sugar Mills Ltd. Sugar 204.73 149.55 0.72 1.22 1.44 1.26 14 26.12 7% 17% 1.84 6.45 116.19 95.52 21.73 26.71 14.73 16.77 211.53 338.38 287.5

144 Duncans Industries Ltd. Tea 102.17 102.92 1.25 0.67 0.32 0.18 -135.86 -209.88 -133% -204% 75.56 47.1 826 1285.67 1620.2 1658.93 5.28 8.01 15.17 23.68 289.5

145 S V Sugar Mills Ltd. Sugar 124.52 74.8 0.63 0.92 0.66 0.42 11.76 19.45 9% 26% 6.45 10.91 135.45 157.19 40.36 70.22 2.6 6.13 95.88 132.56 290.7

146 Siruguppa Sugars & Chemicals Ltd. Sugar 2.4 20.05 9.88 1.47 1.57 1.63 -3.02 -3.78 -126% -19% 4.73 1.3 322.32 143.38 34.51 31.63 9.97 7.51 241.4 165.31 305.5

147 Agro Dutch Inds. Ltd. Mushroom 209.2 207.47 0.42 0.54 0.30 0.30 51.78 73.67 25% 36% 29.22 8.29 113.81 112.68 103.83 113.62 147.47 205.96 91 81.92 305.7

148 Dharampal Premchand Ltd. Chewing tobacco, jarda, scented tobacco 138.71 100.1 0.40 0.75 0.53 0.33 27.91 -17.55 20% -18% 6.43 5.4 88.07 89.62 66.86 78.57 40.08 28.07 24.78 25.33 306.2

149 Jeypore Sugar Co. Ltd. Sugar 241.72 193.41 0.66 1.05 1.02 0.75 48.44 32.45 20% 17% 11.55 15.91 339.42 430 91.35 125.03 5.24 6.22 163.4 210.27 312.2

1 Indo Tech Transformers Ltd. Distribution transformers 156.11 193 0.67 0.64 2.74 1.50 40.21 60.04 26% 31% 63.28 72.89 111.51 100.03 41.3 30.05 3.36 6.11 0.02 0.02 27.2

2 Accurate Transformers Ltd. Transformers 172.55 180.53 0.79 0.87 24.49 29.77 14.29 17.78 8% 10% 123.03 144.67 119.33 86.65 3.61 7.38 1.01 3.37 7.68 5.53 27.9

3 Gupta Machine Tools Ltd. Stampings & laminations 113.72 139.3 0.78 0.76 2.76 2.49 17.66 22.87 16% 16% 41 37.26 47.38 48.11 14.95 20.57 16.35 18.11 4.53 3.75 32.9

4 C T R Manufacturing Inds. Ltd. On load tap changing gears 60.7 72.42 0.66 0.65 2.30 2.42 10.68 14.08 18% 19% 88.98 95.78 122.77 124.62 38.95 43.56 14.83 19.35 0.29 0.31 34.2

5 East India Udyog Ltd. Transformers 61.01 63.87 0.78 0.85 24.03 20.04 12.12 9.49 20% 15% 90.25 117.58 59.62 40.11 19.01 22.18 13.19 25.79 6.84 8.86 35.8

6 Kanohar Electricals Ltd. Transformers 103.75 150.44 0.75 0.81 6.31 8.88 17.34 34.05 17% 23% 85.96 111.9 72.67 73.54 36.32 27.43 22.71 24.87 4.57 8.3 37.1

7 Brook Crompton Greaves Ltd. Motors & generators 17.26 30.91 0.85 0.85 1.10 2.26 1.1 1.02 6% 3% 236.53 147.13 187.44 141.46 49.76 26.3 14.68 7.51 2.22 3.61 37.9

8 E C E Industries Ltd. Transformers 212.17 202.98 0.75 0.69 10.76 7.70 14.46 32.96 7% 16% 89.16 131.35 85.14 73.77 30.33 49.42 36.02 41.94 4.12 3.16 39.8

9 Honda Siel Power Products Ltd. Portable generating sets 236.69 260.41 0.62 0.71 3.90 4.09 35.07 43.82 15% 17% 35.22 30.24 60.7 51.15 56.13 47.1 4.44 4.43 20.36 21.74 40.1

10 Modison Metals Ltd. Contactors 82.19 105.83 0.67 0.66 1.63 1.77 20.28 26.73 25% 25% 34.58 38.73 34.08 27.07 88.56 54.09 18.18 40.02 5.11 3.05 42.8

11 Prasha Technologies Ltd. Parts principally for rotating electric machines 18.75 57.24 0.78 0.84 1.52 3.68 2.22 5.88 12% 10% 70.98 46.21 82.52 76.49 56.65 36.55 19.57 17.47 0 4.69 42.9

12 Shilchar Technologies Ltd. Transformers 57.96 70.19 0.83 0.83 2.93 3.50 5.47 7.44 9% 11% 80.5 97.18 73.98 105.02 32.14 39.33 12.33 15.61 5.16 5.72 43.1

13 Power Build Ltd. Motors & generators 80.87 103.58 0.69 0.64 3.08 2.78 14.18 15.43 18% 15% 112.01 128.05 148.23 130.43 84.45 79.45 28.53 26.73 6.09 4.53 44.6

14 Rajendra Electrical Inds. Ltd. Electric motors, nec 49.32 51.44 0.83 0.71 3.68 2.82 2.95 3.96 6% 8% NA 92.13 66.07 60.98 NA 21.24 NA 21.61 NA 28.58 44.9

15 Integra Hindustan Control Ltd. Switching apparatus 14.68 12.48 0.73 0.75 11.83 10.31 1.69 1.44 12% 12% 112.59 138.38 131.55 168.07 71.23 94.61 36.22 35.31 1.01 0.14 45.3

16 Biecco Lawrie Ltd. Switchgears, nec 46.07 51.42 0.77 0.61 5.49 5.17 3.73 4.73 8% 9% 157.48 176.96 160.27 175.63 67.21 89.56 9.01 9.71 22.3 21.78 46.0

17 Jyoti Ltd. (Duplicate Name, Gujarat) Motors & generators 145.11 206.56 0.82 0.85 4.75 5.56 18.65 25.1 13% 12% 202.49 169.56 334.11 240.75 11.68 10.97 101.4 75.6 5.79 6.28 47.1

generAtors AnD Power equiPment

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers112

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 115: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 113

122 Tirupati Sugars Ltd. Sugar 0.15 21.82 -0.93 0.56 -0.01 0.57 0.59 -8.19 393% -38% 262.8 0.97 39588.46 474.35 0 35.8 0 4.28 22.81 6.47 244.3

123 Khoday India Ltd. Indian made foreign liquors 101.49 117.78 0.36 0.39 0.55 0.74 30.39 26.79 30% 23% 62.41 54.55 243.24 123.61 112.78 78.81 255.57 251.25 24.13 14.58 244.4

124 Vallabhdas Kanji Ltd. Spices & Condiments 134.63 168.44 0.84 0.84 2.87 3.14 18.55 19.8 14% 12% NA 118.33 90.21 93.04 NA 89.09 NA 72.35 NA 28.2 246.0

125 Pioneer Distilleries Ltd. Ethyl alcohol (strength 80% or higher) 48.05 65.44 0.77 0.45 0.65 0.42 11.71 22.91 24% 35% 3.08 8.27 55.7 55.08 74.68 99.77 5.88 9.12 25.22 26.85 247.5

126 Kanoria Sugar & General Mfg. Co. Ltd. Sugar 108.86 117.77 1.01 1.05 2.50 2.63 17.52 -15.75 16% -13% 22.48 24.16 45.63 108.41 19.45 17.78 9.13 6.57 116.77 120.69 250.0

127 United Provinces Sugar Co. Ltd. Sugar 122.65 82.73 0.49 1.27 0.77 1.15 6.22 9.93 5% 12% 0.08 1.12 99.38 99.87 16.13 17.38 1.78 3.37 169.77 246.6 250.9

128 Shakumbari Sugar & Allied Inds. Ltd. Sugar 66.62 42.1 1.63 1.86 1.85 1.18 -9.73 5.97 -15% 14% 6.04 16.8 61.21 82.61 10.27 35.4 1.58 4.05 72.15 293.48 255.3

129 Sagar Sugars & Allied Products Ltd. Sugar 138.49 118.59 0.45 0.53 0.62 0.58 30.12 28.48 22% 24% 89.79 85.08 88.81 107.52 61.96 62.58 111.3 36.3 112.82 106.39 259.4

130 Som Distilleries & Breweries Ltd. Beer 49.4 50.71 0.25 0.43 0.68 0.70 1.42 9.24 3% 18% 102.21 128.71 243.33 345.6 185.55 181.15 21.99 20.63 18.77 30.23 259.5

131 Rangar Breweries Ltd. Ethyl alcohol (strength less than 80%) - 27.77 22.91 0.47 0.49 1.09 1.00 1.29 1.85 5% 8% 60.16 105.01 138.03 223.66 63.01 112.98 38.8 41.51 15.28 20.22 259.7

132 Tamil Nadu Sugar Corpn. Ltd. Sugar 86.45 51.06 0.84 2.10 13.39 18.61 -4.44 -11.91 -5% -23% 3.61 5.81 105.93 134.09 11.2 10.47 5.21 5.92 141.29 224.05 260.7

133 Waterbase Ltd. Animal and bird feeds 57.72 39.3 0.54 0.67 0.75 0.70 6.74 5.09 12% 13% 230.42 367.16 419.22 551.91 334.27 446.86 9.8 4.58 91.32 173.64 263.1

134 Kings International Ltd. Fish, crustaceans & molluscus 15.19 15.27 0.68 0.77 2.98 3.34 1.05 1.48 7% 10% 18.86 25.7 117.15 71.6 128.11 126.66 59.76 63.13 40.26 30.42 264.9

135 Vishnu Sugar Mills Ltd. Sugar 101.91 65.47 0.67 0.69 1.78 1.20 7.01 7.18 7% 11% 1.85 3.08 121.15 112.01 11.23 20.78 5.05 7.15 219.96 308.89 265.0

136 Trident Sugars Ltd. Sugar 36.2 46.24 1.43 1.10 1.56 1.29 2.95 -15.64 8% -34% 20.07 13.46 152.71 190.48 22.24 15.18 3.6 4.74 189.86 166.09 265.7

137 Piccadily Sugar & Allied Inds. Ltd. Liquors 52.89 64.19 0.92 0.37 1.50 0.73 2.33 3.39 4% 5% 2.06 3.94 240.48 273.6 13.16 17.49 8.84 15.8 97.53 84.73 266.8

138 Global Green Co. Ltd. Pickles & chutneys 120.48 94.9 0.36 0.44 1.19 0.84 11.99 1.57 10% 2% 40.65 65.21 70.1 116.01 73.1 99.81 78.85 60.3 14.35 26.21 271.4

139 Natural Vanaspati Ltd. Vegetable oils 60.4 22.57 0.93 0.59 6.98 1.78 -2.08 -0.18 -3% -1% 26.37 54.84 133.92 320.89 20.86 73.54 8.36 18.57 30.69 37.17 272.8

140 Zuari Seeds Ltd. Hybrid seeds 24.17 31.61 0.45 0.47 1.08 1.45 2.07 2.82 9% 9% 84.75 102.64 245.96 224.6 121.3 121.8 25.9 27.38 84.45 67.83 273.2

141 Riga Sugar Co. Ltd. Sugar 115.11 83.17 0.63 1.14 1.06 1.17 18.73 -0.19 16% 0% 2.35 2.61 43.45 102.6 44.48 42.81 4.22 2.39 71.23 91.12 273.9

142 Perambalur Sugar Mills Ltd. Sugar 75.61 38.68 0.86 1.94 15.18 16.36 -7.4 -21.96 -10% -57% 2.97 2.26 104.1 145.07 13.77 17.68 10.94 10.69 137.64 199.23 286.6

143 Harinagar Sugar Mills Ltd. Sugar 204.73 149.55 0.72 1.22 1.44 1.26 14 26.12 7% 17% 1.84 6.45 116.19 95.52 21.73 26.71 14.73 16.77 211.53 338.38 287.5

144 Duncans Industries Ltd. Tea 102.17 102.92 1.25 0.67 0.32 0.18 -135.86 -209.88 -133% -204% 75.56 47.1 826 1285.67 1620.2 1658.93 5.28 8.01 15.17 23.68 289.5

145 S V Sugar Mills Ltd. Sugar 124.52 74.8 0.63 0.92 0.66 0.42 11.76 19.45 9% 26% 6.45 10.91 135.45 157.19 40.36 70.22 2.6 6.13 95.88 132.56 290.7

146 Siruguppa Sugars & Chemicals Ltd. Sugar 2.4 20.05 9.88 1.47 1.57 1.63 -3.02 -3.78 -126% -19% 4.73 1.3 322.32 143.38 34.51 31.63 9.97 7.51 241.4 165.31 305.5

147 Agro Dutch Inds. Ltd. Mushroom 209.2 207.47 0.42 0.54 0.30 0.30 51.78 73.67 25% 36% 29.22 8.29 113.81 112.68 103.83 113.62 147.47 205.96 91 81.92 305.7

148 Dharampal Premchand Ltd. Chewing tobacco, jarda, scented tobacco 138.71 100.1 0.40 0.75 0.53 0.33 27.91 -17.55 20% -18% 6.43 5.4 88.07 89.62 66.86 78.57 40.08 28.07 24.78 25.33 306.2

149 Jeypore Sugar Co. Ltd. Sugar 241.72 193.41 0.66 1.05 1.02 0.75 48.44 32.45 20% 17% 11.55 15.91 339.42 430 91.35 125.03 5.24 6.22 163.4 210.27 312.2

1 Indo Tech Transformers Ltd. Distribution transformers 156.11 193 0.67 0.64 2.74 1.50 40.21 60.04 26% 31% 63.28 72.89 111.51 100.03 41.3 30.05 3.36 6.11 0.02 0.02 27.2

2 Accurate Transformers Ltd. Transformers 172.55 180.53 0.79 0.87 24.49 29.77 14.29 17.78 8% 10% 123.03 144.67 119.33 86.65 3.61 7.38 1.01 3.37 7.68 5.53 27.9

3 Gupta Machine Tools Ltd. Stampings & laminations 113.72 139.3 0.78 0.76 2.76 2.49 17.66 22.87 16% 16% 41 37.26 47.38 48.11 14.95 20.57 16.35 18.11 4.53 3.75 32.9

4 C T R Manufacturing Inds. Ltd. On load tap changing gears 60.7 72.42 0.66 0.65 2.30 2.42 10.68 14.08 18% 19% 88.98 95.78 122.77 124.62 38.95 43.56 14.83 19.35 0.29 0.31 34.2

5 East India Udyog Ltd. Transformers 61.01 63.87 0.78 0.85 24.03 20.04 12.12 9.49 20% 15% 90.25 117.58 59.62 40.11 19.01 22.18 13.19 25.79 6.84 8.86 35.8

6 Kanohar Electricals Ltd. Transformers 103.75 150.44 0.75 0.81 6.31 8.88 17.34 34.05 17% 23% 85.96 111.9 72.67 73.54 36.32 27.43 22.71 24.87 4.57 8.3 37.1

7 Brook Crompton Greaves Ltd. Motors & generators 17.26 30.91 0.85 0.85 1.10 2.26 1.1 1.02 6% 3% 236.53 147.13 187.44 141.46 49.76 26.3 14.68 7.51 2.22 3.61 37.9

8 E C E Industries Ltd. Transformers 212.17 202.98 0.75 0.69 10.76 7.70 14.46 32.96 7% 16% 89.16 131.35 85.14 73.77 30.33 49.42 36.02 41.94 4.12 3.16 39.8

9 Honda Siel Power Products Ltd. Portable generating sets 236.69 260.41 0.62 0.71 3.90 4.09 35.07 43.82 15% 17% 35.22 30.24 60.7 51.15 56.13 47.1 4.44 4.43 20.36 21.74 40.1

10 Modison Metals Ltd. Contactors 82.19 105.83 0.67 0.66 1.63 1.77 20.28 26.73 25% 25% 34.58 38.73 34.08 27.07 88.56 54.09 18.18 40.02 5.11 3.05 42.8

11 Prasha Technologies Ltd. Parts principally for rotating electric machines 18.75 57.24 0.78 0.84 1.52 3.68 2.22 5.88 12% 10% 70.98 46.21 82.52 76.49 56.65 36.55 19.57 17.47 0 4.69 42.9

12 Shilchar Technologies Ltd. Transformers 57.96 70.19 0.83 0.83 2.93 3.50 5.47 7.44 9% 11% 80.5 97.18 73.98 105.02 32.14 39.33 12.33 15.61 5.16 5.72 43.1

13 Power Build Ltd. Motors & generators 80.87 103.58 0.69 0.64 3.08 2.78 14.18 15.43 18% 15% 112.01 128.05 148.23 130.43 84.45 79.45 28.53 26.73 6.09 4.53 44.6

14 Rajendra Electrical Inds. Ltd. Electric motors, nec 49.32 51.44 0.83 0.71 3.68 2.82 2.95 3.96 6% 8% NA 92.13 66.07 60.98 NA 21.24 NA 21.61 NA 28.58 44.9

15 Integra Hindustan Control Ltd. Switching apparatus 14.68 12.48 0.73 0.75 11.83 10.31 1.69 1.44 12% 12% 112.59 138.38 131.55 168.07 71.23 94.61 36.22 35.31 1.01 0.14 45.3

16 Biecco Lawrie Ltd. Switchgears, nec 46.07 51.42 0.77 0.61 5.49 5.17 3.73 4.73 8% 9% 157.48 176.96 160.27 175.63 67.21 89.56 9.01 9.71 22.3 21.78 46.0

17 Jyoti Ltd. (Duplicate Name, Gujarat) Motors & generators 145.11 206.56 0.82 0.85 4.75 5.56 18.65 25.1 13% 12% 202.49 169.56 334.11 240.75 11.68 10.97 101.4 75.6 5.79 6.28 47.1

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 116: Reinventing the Supply Chain

18 Autometers Alliance Ltd. Static converters & rectifiers 77.28 90.25 0.64 0.66 1.97 2.09 16.04 9.18 21% 10% 71.24 62.27 47.44 42.99 87.59 101.37 33.78 34.08 0.79 0.65 47.7

19 Tata Precision Inds. India Ltd. Other parts for rotating electric machines 5.95 10.05 0.56 0.48 0.62 0.62 1.01 1.85 17% 18% NA 63.19 47.75 43.21 NA 97.16 NA 43.71 NA 2.34 47.7

20 Universal Radiators Ltd. Pressed steel cooling radiators 9.36 14.48 0.56 0.57 4.92 2.30 1.62 2.2 17% 15% 136.74 98.68 363.24 245.51 262.05 159.08 8.45 3.07 20.63 7.13 49.0

21 Tarapur Transformers Pvt. Ltd. Transformers 2.93 10.67 0.63 0.98 0.42 1.12 0.45 2.46 15% 23% 176.63 158.43 47.34 150.82 44.39 21.29 249.41 131.44 0 4.99 49.3

22 Elpro International Ltd. Lightning arresters, voltage limiters, etc. 33.78 28.11 0.61 0.67 0.93 0.45 9.29 0.85 28% 3% 174.24 109.64 611.52 1170 73.98 44.06 49.38 30.88 1.52 0.6 49.5

23 Marson'S Ltd. Transformers 33.36 53.27 0.83 0.75 0.99 1.40 2.7 4.13 8% 8% 129.32 118.54 173.17 99.75 105.02 69.71 83.59 31.51 3.41 2.49 50.8

24 Indo Asian Fusegear Ltd. Miniature circuit breakers 213.96 263.85 0.67 0.74 2.28 2.80 29.44 33.46 14% 13% 107.33 125.51 82.67 72.42 33.92 29.82 56.92 57.43 16.51 21.85 50.9

25 I M P Powers Ltd. Distribution transformers 67.83 103.33 0.78 0.79 1.80 2.59 11.56 17.11 17% 17% 163.12 120.68 73.33 53.98 76.15 57.52 41.87 33.17 34.08 23.72 51.1

26 Wartsila India Ltd. Generating sets with diesel engines 268.25 274.63 0.67 0.67 3.67 3.78 38.7 40.52 14% 15% 113.68 106.35 112.05 138.63 46.03 54.4 13.52 28.55 17.76 21.48 51.6

27 R T S Power Corpn. Ltd. Transformers 62.75 94.32 0.73 0.77 3.46 6.08 8.33 8.33 13% 9% 135.76 126.12 96.55 102.92 46.71 31.95 51.64 44.26 31.03 17.79 52.9

28 C I I Guardian Intl. Ltd. Relays 30.28 30.21 0.87 0.81 8.45 8.15 2.23 2.27 7% 8% 2.19 4.42 63.73 66.58 86.48 102.37 34.67 39.97 0.13 0.19 54.6

29 Mysore Electrical Inds. Ltd. Switching apparatus 42.13 47.81 0.84 0.75 0.92 0.94 2.85 4.22 7% 9% NA 138.49 69.88 84.26 NA 71.24 NA 21.06 NA 32.63 55.5

30 Pitti Laminations Ltd. Stampings & laminations 146.77 169.63 0.75 0.75 2.38 1.84 18.61 19.25 13% 11% 53.2 59.85 107.01 119.26 52.58 56.1 19.74 24.38 13.92 14.6 55.6

31 Standard Electricals Ltd. Miniature circuit breakers 87.72 99.14 0.80 0.70 2.97 2.43 6.74 8.64 8% 9% 66.71 39.73 90.66 67.83 42.03 66.11 16.47 16.79 56.22 52.44 55.6

32 Alfa Transformers Ltd. Transformers 20.65 36.5 0.69 0.67 1.43 1.72 3.24 5.74 16% 16% 76.32 58.49 85.94 59.7 161.35 115.4 65.01 35.68 22.47 9.62 58.9

33 Birla Power Solutions Ltd. Portable generating sets 230.34 218.38 0.83 0.80 2.62 2.37 22.87 18.26 10% 8% 133.19 166.92 52.61 59.52 74.85 120.16 29.47 44.12 34.16 34.18 64.4

1 Unifrax India Ltd. Other ceramic products 35.27 43.73 0.44 0.46 2.35 3.00 13.87 16.47 39% 38% 67.99 67.02 38.96 40.26 66.45 67.46 0.36 0.22 16.37 19.54 17.3

2 I F G L Refractories Ltd. Refractory bricks 155.91 179.29 0.56 0.59 2.89 3.05 33.35 35.85 21% 20% 94.03 96.13 54.98 63.13 55.94 64.94 11.9 13.01 6.73 6.6 27.6

3 Jai Mata Glass Ltd. Glass & glass wares 21.13 46.62 0.81 0.79 1.16 3.79 0.74 5.76 4% 12% 16.55 19.52 149.4 67.71 107.78 41.67 1.66 1.19 3.57 5.87 29.9

4 Gujarat Borosil Ltd. Glass & glass wares 96.11 84.57 0.42 0.51 1.07 1.00 19.24 13.83 20% 16% 22.51 31.86 24.1 28.86 67.87 73.72 5.45 5.79 7.37 2 30.3

5 Asian Tiles Ltd. [Merged] Ceramic tiles 24.76 36.48 0.64 0.68 1.05 1.74 5.5 7.02 22% 19% 74.81 62.48 72.03 82.08 93.22 61.56 0.21 0.85 41.26 36.46 35.9

6 Haldyn Glass Gujarat Ltd. Bottles 56.72 63.99 0.47 0.48 0.46 0.45 15.84 18.45 28% 29% 60.82 49.57 116.55 115.48 68.02 90.43 0.93 1.34 10.69 4.85 36.7

7 Excel Glasses Ltd. Bottles 67.99 73.69 0.84 0.70 1.53 1.46 1.23 2.77 2% 4% 71.25 61.58 60.62 43.31 84.55 84.49 0.84 1.22 42.64 29.15 39.8

8 Italia Ceramics Ltd. Glazed ceramic tiles, paving & flags 22.01 24.08 0.85 0.58 1.30 0.95 1.57 3.31 7% 14% 56.24 63.3 89.47 103.97 49.28 61.88 2.59 2.17 36.21 34.45 40.2

9 Goa Glass Fibre Ltd. Glass fibres 82.07 80.9 0.52 0.61 0.58 0.70 12.29 13.09 15% 16% 47.97 54.44 88.14 50.98 93.07 114.52 1.5 1.65 38.19 31.91 45.8

10 Snowtex Udyog Ltd. Refractory bricks 18.7 16.84 0.63 0.74 2.70 2.70 2.65 2.13 14% 13% 61.13 65.74 57.44 56.75 140.55 169.46 5.14 3.54 25.13 21 46.4

11 Schablona India Ltd. Other ceramic products 9.31 19.04 0.65 0.61 1.68 2.32 1.08 2.17 12% 11% 52.78 56.67 114.21 124.88 65.86 50.41 11.7 9.28 45.17 28.25 47.1

12 U P Twiga Fiberglass Ltd. Glass & glass wares 63.71 84.14 0.53 0.60 0.39 0.61 15.17 17.89 24% 21% 40.41 46.64 120.85 102.59 108.99 102.99 12.07 8.76 8.37 8.28 47.4

13 Orient Ceramics & Inds. Ltd. Glazed ceramic tiles, paving & flags 186.39 213.46 0.50 0.68 1.34 1.55 30.74 23.39 16% 11% 52.1 59.61 76.25 74.88 76.48 84.62 4.8 6.61 28.31 24.24 47.8

14 Onaway Industries Ltd. Vials for injectables 7.78 10.58 0.63 0.58 0.76 0.94 1.59 1.95 20% 18% 71.9 62.89 42.36 36.54 171.56 129.02 52.84 34.83 22.58 17.35 48.1

15 Saint-Gobain Sekurit India Ltd. Toughened & laminated (safety) glass 69.84 66.7 0.80 0.75 1.09 0.95 -3.72 7.83 -5% 12% 46.52 58.51 98.83 87.44 98.06 85.87 6.18 6.29 16.76 18.33 49.3

16 Sejal Architectural Glass Ltd. Toughened & laminated (safety) glass 38.44 55.21 0.80 0.82 0.51 0.35 7.71 16.52 20% 30% 94.52 101.26 218.14 409.77 107.27 120.54 4.34 6.36 8.14 18.19 50.3

17 Maithan Ceramic Ltd. Refractory bricks 78.89 83.12 0.79 0.77 6.57 7.64 7.45 8.17 9% 10% 68.09 57.5 48.46 37.02 126.16 111.82 10.39 10.66 21.21 23.68 50.3

18 Jalaram Ceramics Ltd. Glazed ceramic tiles, paving & flags 66.3 69.33 0.53 0.60 1.08 0.99 13.74 10.69 21% 15% 45.63 52.96 82.78 62.93 83.74 82.7 10.7 10.19 33.41 39.25 50.3

19 Cera Sanitaryware Ltd. Ceramic sinks, wash basins, etc. 106.54 127.99 0.59 0.62 1.06 1.03 19.79 23.66 19% 18% 56.22 62.95 103.21 92.62 109.82 109.77 5.16 5.18 46 48.61 51.3

20 Raasi Refractories Ltd. Refractory bricks 29.52 32.55 0.76 0.74 2.12 2.13 3.27 3.17 11% 10% 84.95 49.25 108.87 77.32 80.73 82.56 27.03 15.44 17.22 15.59 51.6

21 Shri Nataraj Ceramic & Chemical Inds. Ltd. Other refractories 31.58 48.22 0.51 0.73 2.09 3.44 7.72 9.21 24% 19% 31.08 33.92 92.8 76.19 187.4 144.02 8 4.53 28.85 22.48 52.2

22 Schott Glass India Pvt. Ltd. Glass in tubes 61.02 111.79 0.83 0.30 0.58 0.32 14.4 19.75 24% 18% 80.84 79.41 109.6 139.54 202.32 300.76 2.3 2.55 42.05 28.29 52.4

23 Asian Granito India Ltd. Ceramic tiles 145.8 182.35 0.67 0.64 2.17 1.16 35.07 49.05 24% 27% 56.67 63.41 57.99 64.04 114.44 132.3 1.57 5.01 62.06 63.33 52.8

24 La Opala R G Ltd. Kitchen glass wares 49.72 51.08 0.55 0.55 0.60 0.49 9.18 6.93 18% 14% 56.59 65.93 55.34 70.25 74.87 126.54 30.25 34.55 24.06 19.36 53.5

25 Restile Ceramics Ltd. Unglazed ceramic tiles, paving & flags 20.4 31.8 1.00 0.67 0.45 0.35 0.46 5.14 2% 16% 64.76 78.77 87.82 75.45 96.75 118.88 3.14 2.33 76.74 85.35 53.7

26 Euro Ceramics Ltd. Ceramic tiles 181.35 235.79 0.67 0.50 0.46 0.32 64.64 74.83 36% 32% 73.72 70.4 87.32 70 121.85 116.7 4.18 14.41 54.58 58.85 54.3

27 Decolight Ceramics Ltd. Ceramic tiles 51.44 82.18 0.72 0.69 0.80 0.75 12.46 22.43 24% 27% 50.34 70.79 81.14 71.15 197.71 195.67 28.39 39.47 22.71 17.62 55.9

28 Tata Ceramics Ltd. Porcelain or china household articles 22.47 29.57 0.55 0.70 0.63 1.21 -1.25 3.76 -6% 13% 67.38 78.07 102.47 47.44 203.67 144.36 15.08 9.53 86.44 60.83 57.5

29 Regency Ceramics Ltd. Ceramic tiles 150.55 139.69 0.55 0.54 0.60 0.59 19.01 5.24 13% 4% 72.8 78.26 95.53 108.96 202.61 204.28 2.78 3.37 41.05 40.94 58.1

glAss AnD cerAmics

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers114

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 117: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 115

18 Autometers Alliance Ltd. Static converters & rectifiers 77.28 90.25 0.64 0.66 1.97 2.09 16.04 9.18 21% 10% 71.24 62.27 47.44 42.99 87.59 101.37 33.78 34.08 0.79 0.65 47.7

19 Tata Precision Inds. India Ltd. Other parts for rotating electric machines 5.95 10.05 0.56 0.48 0.62 0.62 1.01 1.85 17% 18% NA 63.19 47.75 43.21 NA 97.16 NA 43.71 NA 2.34 47.7

20 Universal Radiators Ltd. Pressed steel cooling radiators 9.36 14.48 0.56 0.57 4.92 2.30 1.62 2.2 17% 15% 136.74 98.68 363.24 245.51 262.05 159.08 8.45 3.07 20.63 7.13 49.0

21 Tarapur Transformers Pvt. Ltd. Transformers 2.93 10.67 0.63 0.98 0.42 1.12 0.45 2.46 15% 23% 176.63 158.43 47.34 150.82 44.39 21.29 249.41 131.44 0 4.99 49.3

22 Elpro International Ltd. Lightning arresters, voltage limiters, etc. 33.78 28.11 0.61 0.67 0.93 0.45 9.29 0.85 28% 3% 174.24 109.64 611.52 1170 73.98 44.06 49.38 30.88 1.52 0.6 49.5

23 Marson'S Ltd. Transformers 33.36 53.27 0.83 0.75 0.99 1.40 2.7 4.13 8% 8% 129.32 118.54 173.17 99.75 105.02 69.71 83.59 31.51 3.41 2.49 50.8

24 Indo Asian Fusegear Ltd. Miniature circuit breakers 213.96 263.85 0.67 0.74 2.28 2.80 29.44 33.46 14% 13% 107.33 125.51 82.67 72.42 33.92 29.82 56.92 57.43 16.51 21.85 50.9

25 I M P Powers Ltd. Distribution transformers 67.83 103.33 0.78 0.79 1.80 2.59 11.56 17.11 17% 17% 163.12 120.68 73.33 53.98 76.15 57.52 41.87 33.17 34.08 23.72 51.1

26 Wartsila India Ltd. Generating sets with diesel engines 268.25 274.63 0.67 0.67 3.67 3.78 38.7 40.52 14% 15% 113.68 106.35 112.05 138.63 46.03 54.4 13.52 28.55 17.76 21.48 51.6

27 R T S Power Corpn. Ltd. Transformers 62.75 94.32 0.73 0.77 3.46 6.08 8.33 8.33 13% 9% 135.76 126.12 96.55 102.92 46.71 31.95 51.64 44.26 31.03 17.79 52.9

28 C I I Guardian Intl. Ltd. Relays 30.28 30.21 0.87 0.81 8.45 8.15 2.23 2.27 7% 8% 2.19 4.42 63.73 66.58 86.48 102.37 34.67 39.97 0.13 0.19 54.6

29 Mysore Electrical Inds. Ltd. Switching apparatus 42.13 47.81 0.84 0.75 0.92 0.94 2.85 4.22 7% 9% NA 138.49 69.88 84.26 NA 71.24 NA 21.06 NA 32.63 55.5

30 Pitti Laminations Ltd. Stampings & laminations 146.77 169.63 0.75 0.75 2.38 1.84 18.61 19.25 13% 11% 53.2 59.85 107.01 119.26 52.58 56.1 19.74 24.38 13.92 14.6 55.6

31 Standard Electricals Ltd. Miniature circuit breakers 87.72 99.14 0.80 0.70 2.97 2.43 6.74 8.64 8% 9% 66.71 39.73 90.66 67.83 42.03 66.11 16.47 16.79 56.22 52.44 55.6

32 Alfa Transformers Ltd. Transformers 20.65 36.5 0.69 0.67 1.43 1.72 3.24 5.74 16% 16% 76.32 58.49 85.94 59.7 161.35 115.4 65.01 35.68 22.47 9.62 58.9

33 Birla Power Solutions Ltd. Portable generating sets 230.34 218.38 0.83 0.80 2.62 2.37 22.87 18.26 10% 8% 133.19 166.92 52.61 59.52 74.85 120.16 29.47 44.12 34.16 34.18 64.4

1 Unifrax India Ltd. Other ceramic products 35.27 43.73 0.44 0.46 2.35 3.00 13.87 16.47 39% 38% 67.99 67.02 38.96 40.26 66.45 67.46 0.36 0.22 16.37 19.54 17.3

2 I F G L Refractories Ltd. Refractory bricks 155.91 179.29 0.56 0.59 2.89 3.05 33.35 35.85 21% 20% 94.03 96.13 54.98 63.13 55.94 64.94 11.9 13.01 6.73 6.6 27.6

3 Jai Mata Glass Ltd. Glass & glass wares 21.13 46.62 0.81 0.79 1.16 3.79 0.74 5.76 4% 12% 16.55 19.52 149.4 67.71 107.78 41.67 1.66 1.19 3.57 5.87 29.9

4 Gujarat Borosil Ltd. Glass & glass wares 96.11 84.57 0.42 0.51 1.07 1.00 19.24 13.83 20% 16% 22.51 31.86 24.1 28.86 67.87 73.72 5.45 5.79 7.37 2 30.3

5 Asian Tiles Ltd. [Merged] Ceramic tiles 24.76 36.48 0.64 0.68 1.05 1.74 5.5 7.02 22% 19% 74.81 62.48 72.03 82.08 93.22 61.56 0.21 0.85 41.26 36.46 35.9

6 Haldyn Glass Gujarat Ltd. Bottles 56.72 63.99 0.47 0.48 0.46 0.45 15.84 18.45 28% 29% 60.82 49.57 116.55 115.48 68.02 90.43 0.93 1.34 10.69 4.85 36.7

7 Excel Glasses Ltd. Bottles 67.99 73.69 0.84 0.70 1.53 1.46 1.23 2.77 2% 4% 71.25 61.58 60.62 43.31 84.55 84.49 0.84 1.22 42.64 29.15 39.8

8 Italia Ceramics Ltd. Glazed ceramic tiles, paving & flags 22.01 24.08 0.85 0.58 1.30 0.95 1.57 3.31 7% 14% 56.24 63.3 89.47 103.97 49.28 61.88 2.59 2.17 36.21 34.45 40.2

9 Goa Glass Fibre Ltd. Glass fibres 82.07 80.9 0.52 0.61 0.58 0.70 12.29 13.09 15% 16% 47.97 54.44 88.14 50.98 93.07 114.52 1.5 1.65 38.19 31.91 45.8

10 Snowtex Udyog Ltd. Refractory bricks 18.7 16.84 0.63 0.74 2.70 2.70 2.65 2.13 14% 13% 61.13 65.74 57.44 56.75 140.55 169.46 5.14 3.54 25.13 21 46.4

11 Schablona India Ltd. Other ceramic products 9.31 19.04 0.65 0.61 1.68 2.32 1.08 2.17 12% 11% 52.78 56.67 114.21 124.88 65.86 50.41 11.7 9.28 45.17 28.25 47.1

12 U P Twiga Fiberglass Ltd. Glass & glass wares 63.71 84.14 0.53 0.60 0.39 0.61 15.17 17.89 24% 21% 40.41 46.64 120.85 102.59 108.99 102.99 12.07 8.76 8.37 8.28 47.4

13 Orient Ceramics & Inds. Ltd. Glazed ceramic tiles, paving & flags 186.39 213.46 0.50 0.68 1.34 1.55 30.74 23.39 16% 11% 52.1 59.61 76.25 74.88 76.48 84.62 4.8 6.61 28.31 24.24 47.8

14 Onaway Industries Ltd. Vials for injectables 7.78 10.58 0.63 0.58 0.76 0.94 1.59 1.95 20% 18% 71.9 62.89 42.36 36.54 171.56 129.02 52.84 34.83 22.58 17.35 48.1

15 Saint-Gobain Sekurit India Ltd. Toughened & laminated (safety) glass 69.84 66.7 0.80 0.75 1.09 0.95 -3.72 7.83 -5% 12% 46.52 58.51 98.83 87.44 98.06 85.87 6.18 6.29 16.76 18.33 49.3

16 Sejal Architectural Glass Ltd. Toughened & laminated (safety) glass 38.44 55.21 0.80 0.82 0.51 0.35 7.71 16.52 20% 30% 94.52 101.26 218.14 409.77 107.27 120.54 4.34 6.36 8.14 18.19 50.3

17 Maithan Ceramic Ltd. Refractory bricks 78.89 83.12 0.79 0.77 6.57 7.64 7.45 8.17 9% 10% 68.09 57.5 48.46 37.02 126.16 111.82 10.39 10.66 21.21 23.68 50.3

18 Jalaram Ceramics Ltd. Glazed ceramic tiles, paving & flags 66.3 69.33 0.53 0.60 1.08 0.99 13.74 10.69 21% 15% 45.63 52.96 82.78 62.93 83.74 82.7 10.7 10.19 33.41 39.25 50.3

19 Cera Sanitaryware Ltd. Ceramic sinks, wash basins, etc. 106.54 127.99 0.59 0.62 1.06 1.03 19.79 23.66 19% 18% 56.22 62.95 103.21 92.62 109.82 109.77 5.16 5.18 46 48.61 51.3

20 Raasi Refractories Ltd. Refractory bricks 29.52 32.55 0.76 0.74 2.12 2.13 3.27 3.17 11% 10% 84.95 49.25 108.87 77.32 80.73 82.56 27.03 15.44 17.22 15.59 51.6

21 Shri Nataraj Ceramic & Chemical Inds. Ltd. Other refractories 31.58 48.22 0.51 0.73 2.09 3.44 7.72 9.21 24% 19% 31.08 33.92 92.8 76.19 187.4 144.02 8 4.53 28.85 22.48 52.2

22 Schott Glass India Pvt. Ltd. Glass in tubes 61.02 111.79 0.83 0.30 0.58 0.32 14.4 19.75 24% 18% 80.84 79.41 109.6 139.54 202.32 300.76 2.3 2.55 42.05 28.29 52.4

23 Asian Granito India Ltd. Ceramic tiles 145.8 182.35 0.67 0.64 2.17 1.16 35.07 49.05 24% 27% 56.67 63.41 57.99 64.04 114.44 132.3 1.57 5.01 62.06 63.33 52.8

24 La Opala R G Ltd. Kitchen glass wares 49.72 51.08 0.55 0.55 0.60 0.49 9.18 6.93 18% 14% 56.59 65.93 55.34 70.25 74.87 126.54 30.25 34.55 24.06 19.36 53.5

25 Restile Ceramics Ltd. Unglazed ceramic tiles, paving & flags 20.4 31.8 1.00 0.67 0.45 0.35 0.46 5.14 2% 16% 64.76 78.77 87.82 75.45 96.75 118.88 3.14 2.33 76.74 85.35 53.7

26 Euro Ceramics Ltd. Ceramic tiles 181.35 235.79 0.67 0.50 0.46 0.32 64.64 74.83 36% 32% 73.72 70.4 87.32 70 121.85 116.7 4.18 14.41 54.58 58.85 54.3

27 Decolight Ceramics Ltd. Ceramic tiles 51.44 82.18 0.72 0.69 0.80 0.75 12.46 22.43 24% 27% 50.34 70.79 81.14 71.15 197.71 195.67 28.39 39.47 22.71 17.62 55.9

28 Tata Ceramics Ltd. Porcelain or china household articles 22.47 29.57 0.55 0.70 0.63 1.21 -1.25 3.76 -6% 13% 67.38 78.07 102.47 47.44 203.67 144.36 15.08 9.53 86.44 60.83 57.5

29 Regency Ceramics Ltd. Ceramic tiles 150.55 139.69 0.55 0.54 0.60 0.59 19.01 5.24 13% 4% 72.8 78.26 95.53 108.96 202.61 204.28 2.78 3.37 41.05 40.94 58.1

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 118: Reinventing the Supply Chain

30 Nilachal Refractories Ltd. Other refractories 7.45 11.2 1.23 0.68 4.74 3.42 -0.89 -3.62 -12% -32% 42.21 56.89 211.28 139.17 45.97 55.38 25.89 32.42 36.21 52.94 59.7

31 Orissa Industries Ltd. Other refractories 13.47 12.36 1.54 1.85 4.01 4.69 -16.34 -18.73 -121% -152% 92.83 110.75 1357.14 1510.9 130.67 107.48 5.35 7.51 102.57 113.44 62.2

32 Bell Ceramics Ltd. Ceramic tiles 169.37 161.76 0.60 0.65 0.74 0.83 16.24 0.51 10% 0% 20.54 24.6 104.06 103.42 72.31 75.25 12.78 10.84 50.56 41.61 63.2

33 Murudeshwar Ceramics Ltd. Glazed ceramic tiles, paving & flags 235.26 236.41 0.54 0.43 0.38 0.30 74.76 76.35 32% 32% 57.71 77.91 142.48 75.38 129.38 193.83 45.33 67.4 74.97 77.81 65.1

34 Borosil Glass Works Ltd. Laboratory glasswares 75.36 72.57 0.57 0.60 0.85 0.90 20.13 7.95 27% 11% 68.51 68.89 82.1 75.29 123.86 132.04 126.66 116.65 48.3 61.17 68.0

35 Shreno Ltd. Glass & glass wares 97.89 43.98 0.73 0.56 4.43 1.46 -20.79 3.27 -21% 7% 22.75 65.04 67.96 198.9 37.91 111.11 13.87 80.38 29.64 105.26 69.8

36 Neycer India Ltd. Other ceramic products 12.53 12.55 0.87 0.67 1.40 0.69 -6.71 -3.71 -54% -30% 155.76 149.43 758.44 707.01 262.66 242.84 21.2 15.51 97.19 101.74 76.4

1 Mayur Leather Products Ltd. Shoe uppers 27.8 27.23 0.71 0.66 5.47 4.82 4.58 4.76 16% 17% 72.31 79.4 52.79 50.42 42.13 57.75 14.54 13.74 3.39 4.59 12.0

2 Graziella Shoes Ltd. Leather shoes 65.71 80.41 0.80 0.79 7.94 9.43 1.92 2.24 3% 3% 45.08 50.15 85.88 92.76 37.97 30.21 7.56 7.24 10.35 12.02 15.5

3 Worldwide Leather Exports Ltd. Leather shoes 11.78 12.55 0.57 0.00 1.42 0.00 0.96 0.95 8% 8% 36.37 49.52 31.27 36.06 57.92 43.09 20.38 15.77 14.91 13.04 16.0

4 Mallcom (India) Ltd. Leather gloves 89.06 112.72 0.76 0.77 4.04 4.62 5.59 6.77 6% 6% 35.79 49.78 37.04 61.62 59.26 57.41 8.49 11.42 6.25 8.13 16.6

5 Phoenix International Ltd. Canvas & sports shoes 15.39 18.36 0.69 0.58 0.27 0.20 15.95 23.11 104% 126% 893.03 450.02 1033.87 1205.1 107.17 100.06 19.72 18.74 2.59 0.85 17.2

6 Crew B O S Products Ltd. Leather cases of all kinds 186.04 218.17 0.61 0.70 1.41 1.45 34.07 35.36 18% 16% 43.51 62.63 46.08 51.84 139.77 195.39 35.85 70.07 3.07 2.62 20.8

7 Liberty Shoes Ltd. Other shoes 220.11 248.87 0.73 0.65 1.92 1.85 32.6 37.16 15% 15% 92.32 102.07 73.62 70.68 64.01 57.67 45.93 53.52 46.87 58.44 21.1

8 Iqbal Leathers Ltd. Leather finished 47.91 32.16 0.94 0.97 6.28 5.15 1.59 1.73 3% 5% 48.64 61.23 64.55 90.08 22.04 32.59 15.64 60.22 5.84 14.19 21.5

9 Focus Energy Ltd. Leather shoes 19.79 17.08 0.71 0.69 0.07 0.10 2.05 2.01 10% 12% 82.78 52.45 165.25 1239.57 65.43 49.89 2.25 2.45 142.29 207.19 21.9

10 Pond'S Exports Ltd. Leather shoes 105.75 87.55 0.78 0.69 18.48 13.46 -0.8 0.42 -1% 0% 47.89 55.79 69.82 93.74 87.73 112 19.57 18.39 4.83 8.62 22.1

11 Super Tannery Ltd. Leather, canvas & other shoes, chappals, etc. 182.57 205.8 0.70 0.68 3.19 3.25 9.22 11.89 5% 6% 49.24 57.22 87.53 83.98 41.85 44.57 79.38 72.84 19.7 26.27 23.4

12 Khadim India Ltd. Slippers & chappals 149.33 198.3 0.93 0.87 2.27 2.17 11.33 23.81 8% 12% 21.99 22.06 58.84 60.11 55.38 50.91 18.13 19.15 51.68 68.33 24.1

13 New Horizons Ltd. Leather gloves 64.99 64.73 0.82 0.94 6.66 6.84 3.14 3.69 5% 6% 16.52 17.31 57.39 71.99 84.28 81.73 6.22 15.77 5.51 15.85 24.2

14 Lakhani India Ltd. Leather shoes 40.65 146.68 1.16 0.81 0.92 1.63 2.75 13.23 7% 9% 158.24 86.67 216.39 119.15 471.32 323.91 31.51 25.2 53.99 20.27 27.1

1 Birla Precision Technologies Ltd. Machine tools 24.32 31.07 0.44 0.47 1.05 0.85 8.54 8.3 35% 27% 71.63 98.88 46.49 73.83 27.61 35.53 15.25 8.49 4.67 6.36 12.6

2 Ucal Machine Tools Ltd. Other machine tools & parts thereof 36.24 42.58 0.55 0.48 0.73 0.79 4.16 7.66 11% 18% 58.03 64.6 76.63 79.07 27.48 43 13.88 16.77 0.67 1.03 18.5

3 Wendt (India) Ltd. Machine tools 51.99 55.49 0.46 0.47 1.24 1.22 14.95 14.6 29% 26% 75.27 76.49 85.04 61.8 64.12 62.46 16.97 18.03 5.81 2.62 18.8

4 Guindy Machine Tools Ltd. Machine tools 31.17 31.42 0.44 0.48 0.86 0.85 8.97 9.16 29% 29% 28.16 34 70.29 70.54 36.42 35.75 24.9 37.7 8.82 14.36 22.7

5 I T L Industries Ltd. Sawing or cutting off machines 22.14 33.87 0.71 0.76 2.83 3.12 2.72 3.43 12% 10% 100.96 83.2 211.95 109.48 92.07 70.07 24.09 14.52 0 0.68 22.7

6 Kulkarni Power Tools Ltd. Machine tools for drilling, boring, milling, etc. 44.75 58.55 0.66 0.66 1.03 1.18 8.95 9.85 20% 17% 91.8 81.64 89.58 73.21 58.22 53.63 36.31 29.26 25 17.02 24.0

7 T A L Manufacturing Solutions Ltd. Machine tools 141.05 218.84 0.72 0.76 5.64 2.71 13.65 17.85 10% 8% 82.66 80.7 103.31 136.41 71.52 45.8 46.52 26.1 2.34 2.42 24.3

8 A C E Designers Ltd. Lathes 266.76 245.15 0.61 0.64 5.27 2.46 74.68 64.25 28% 26% 45.56 64.36 79.42 91.05 23.95 37.95 27.07 50.79 13.53 12.99 25.7

9 Revathi Equipment Ltd. Drilling machines 92.5 125.87 0.61 0.64 1.28 5.78 26.39 40.99 29% 33% 99.07 103.23 89.23 74.55 122.01 91.68 118.52 96.32 29.09 18.62 26.6

10 Bajaj Ventures Ltd. Machine tools 34.46 47.76 0.78 0.76 2.87 4.03 2.4 7.73 7% 16% 93.88 79.67 97.75 88.97 82.79 62.43 19.55 10.04 63.82 55.71 27.3

11 Akar Tools Ltd. Machine tools 55.55 69.9 0.69 0.65 2.11 1.40 4.7 6.92 8% 10% 57.33 59.69 68.2 55.43 31.23 25.58 52.96 56.59 24.99 22.5 28.4

12 Mitsubishi Heavy Inds. India Precision Tools Machine tools 37.45 42.99 0.42 0.38 0.61 0.28 13.56 14.81 36% 34% 68.79 79.76 36.5 260.09 175.78 214.18 38.87 34.6 1.75 1.74 29.5

13 Premier Ltd. Machine tools 86.04 111.07 0.68 0.63 1.00 0.59 63.97 36.71 74% 33% 351.98 209.97 91.52 113.04 65.31 103.74 38.97 49.06 30.31 44.83 31.6

14 Dagger-Forst Tools Ltd. Broaching machines 36.79 41.2 0.59 0.58 0.41 0.42 7.5 5.97 20% 14% 65.94 90.25 71.75 90.87 170.4 200.73 51.31 42.44 12.69 15.55 32.7

15 Forbes & Co. Ltd. Machine tools 629.64 268.98 0.67 0.55 1.32 1.03 67.92 31.92 11% 12% 66.69 119.83 110.69 158.99 73.4 156.98 18.82 37.51 29.28 49.22 33.8

16 Electronica Machine Tools Ltd. Machines for working on wire 132.52 117.65 0.70 0.80 2.66 2.41 17.34 13.31 13% 11% 64.8 89.02 92.24 93.9 116.39 164.98 60.72 97.38 7.05 8.19 35.5

17 H M T Machine Tools Ltd. Machine tools 237.71 240.77 0.52 0.54 4.09 3.17 -98.76 -27 -42% -11% 111.2 133.67 224.2 195.94 173.59 199.77 79.94 97.33 41.24 39.95 36.8

18 Addison & Co. Ltd. Drilling machines 132.63 154.41 0.76 0.73 1.83 1.97 16.19 20.27 12% 13% 73.92 72.1 61.67 62.21 80.2 57.84 151.52 167.96 74.28 86.42 36.8

19 A S B International Pvt. Ltd. Machine tools 157.18 172.82 0.71 0.70 1.43 1.68 31.7 17.62 20% 10% 39.98 33 73.27 92.37 94.3 114.53 43.12 52.08 29.18 26.02 39.1

20 Bemco Hydraulics Ltd. Hydraulic presses 19.13 20.9 0.76 0.71 2.00 2.32 1.85 2.26 10% 11% 78.69 98.54 259.52 239.04 50.05 64.55 79.98 121.56 82.46 78.75 39.6

1 Xomox Sanmar Ltd. Industrial valves 59.05 65.25 0.53 0.57 5.50 6.42 19.86 19.95 34% 31% 62.9 80.11 58.62 49.91 47.34 48.53 19.55 19.98 0.04 0.06 33.9

2 Swaraj Engines Ltd. Diesel engines 129.62 128.84 0.74 0.75 2.97 3.20 27.19 26.63 21% 21% 93.55 66.64 36.06 31.33 27.5 29.48 1.2 1.95 7.31 4.15 42.4

leAther AnD leAther ProDucts

mAchine tools

non electricAl mAchinerY

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers116

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

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net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 117

30 Nilachal Refractories Ltd. Other refractories 7.45 11.2 1.23 0.68 4.74 3.42 -0.89 -3.62 -12% -32% 42.21 56.89 211.28 139.17 45.97 55.38 25.89 32.42 36.21 52.94 59.7

31 Orissa Industries Ltd. Other refractories 13.47 12.36 1.54 1.85 4.01 4.69 -16.34 -18.73 -121% -152% 92.83 110.75 1357.14 1510.9 130.67 107.48 5.35 7.51 102.57 113.44 62.2

32 Bell Ceramics Ltd. Ceramic tiles 169.37 161.76 0.60 0.65 0.74 0.83 16.24 0.51 10% 0% 20.54 24.6 104.06 103.42 72.31 75.25 12.78 10.84 50.56 41.61 63.2

33 Murudeshwar Ceramics Ltd. Glazed ceramic tiles, paving & flags 235.26 236.41 0.54 0.43 0.38 0.30 74.76 76.35 32% 32% 57.71 77.91 142.48 75.38 129.38 193.83 45.33 67.4 74.97 77.81 65.1

34 Borosil Glass Works Ltd. Laboratory glasswares 75.36 72.57 0.57 0.60 0.85 0.90 20.13 7.95 27% 11% 68.51 68.89 82.1 75.29 123.86 132.04 126.66 116.65 48.3 61.17 68.0

35 Shreno Ltd. Glass & glass wares 97.89 43.98 0.73 0.56 4.43 1.46 -20.79 3.27 -21% 7% 22.75 65.04 67.96 198.9 37.91 111.11 13.87 80.38 29.64 105.26 69.8

36 Neycer India Ltd. Other ceramic products 12.53 12.55 0.87 0.67 1.40 0.69 -6.71 -3.71 -54% -30% 155.76 149.43 758.44 707.01 262.66 242.84 21.2 15.51 97.19 101.74 76.4

1 Mayur Leather Products Ltd. Shoe uppers 27.8 27.23 0.71 0.66 5.47 4.82 4.58 4.76 16% 17% 72.31 79.4 52.79 50.42 42.13 57.75 14.54 13.74 3.39 4.59 12.0

2 Graziella Shoes Ltd. Leather shoes 65.71 80.41 0.80 0.79 7.94 9.43 1.92 2.24 3% 3% 45.08 50.15 85.88 92.76 37.97 30.21 7.56 7.24 10.35 12.02 15.5

3 Worldwide Leather Exports Ltd. Leather shoes 11.78 12.55 0.57 0.00 1.42 0.00 0.96 0.95 8% 8% 36.37 49.52 31.27 36.06 57.92 43.09 20.38 15.77 14.91 13.04 16.0

4 Mallcom (India) Ltd. Leather gloves 89.06 112.72 0.76 0.77 4.04 4.62 5.59 6.77 6% 6% 35.79 49.78 37.04 61.62 59.26 57.41 8.49 11.42 6.25 8.13 16.6

5 Phoenix International Ltd. Canvas & sports shoes 15.39 18.36 0.69 0.58 0.27 0.20 15.95 23.11 104% 126% 893.03 450.02 1033.87 1205.1 107.17 100.06 19.72 18.74 2.59 0.85 17.2

6 Crew B O S Products Ltd. Leather cases of all kinds 186.04 218.17 0.61 0.70 1.41 1.45 34.07 35.36 18% 16% 43.51 62.63 46.08 51.84 139.77 195.39 35.85 70.07 3.07 2.62 20.8

7 Liberty Shoes Ltd. Other shoes 220.11 248.87 0.73 0.65 1.92 1.85 32.6 37.16 15% 15% 92.32 102.07 73.62 70.68 64.01 57.67 45.93 53.52 46.87 58.44 21.1

8 Iqbal Leathers Ltd. Leather finished 47.91 32.16 0.94 0.97 6.28 5.15 1.59 1.73 3% 5% 48.64 61.23 64.55 90.08 22.04 32.59 15.64 60.22 5.84 14.19 21.5

9 Focus Energy Ltd. Leather shoes 19.79 17.08 0.71 0.69 0.07 0.10 2.05 2.01 10% 12% 82.78 52.45 165.25 1239.57 65.43 49.89 2.25 2.45 142.29 207.19 21.9

10 Pond'S Exports Ltd. Leather shoes 105.75 87.55 0.78 0.69 18.48 13.46 -0.8 0.42 -1% 0% 47.89 55.79 69.82 93.74 87.73 112 19.57 18.39 4.83 8.62 22.1

11 Super Tannery Ltd. Leather, canvas & other shoes, chappals, etc. 182.57 205.8 0.70 0.68 3.19 3.25 9.22 11.89 5% 6% 49.24 57.22 87.53 83.98 41.85 44.57 79.38 72.84 19.7 26.27 23.4

12 Khadim India Ltd. Slippers & chappals 149.33 198.3 0.93 0.87 2.27 2.17 11.33 23.81 8% 12% 21.99 22.06 58.84 60.11 55.38 50.91 18.13 19.15 51.68 68.33 24.1

13 New Horizons Ltd. Leather gloves 64.99 64.73 0.82 0.94 6.66 6.84 3.14 3.69 5% 6% 16.52 17.31 57.39 71.99 84.28 81.73 6.22 15.77 5.51 15.85 24.2

14 Lakhani India Ltd. Leather shoes 40.65 146.68 1.16 0.81 0.92 1.63 2.75 13.23 7% 9% 158.24 86.67 216.39 119.15 471.32 323.91 31.51 25.2 53.99 20.27 27.1

1 Birla Precision Technologies Ltd. Machine tools 24.32 31.07 0.44 0.47 1.05 0.85 8.54 8.3 35% 27% 71.63 98.88 46.49 73.83 27.61 35.53 15.25 8.49 4.67 6.36 12.6

2 Ucal Machine Tools Ltd. Other machine tools & parts thereof 36.24 42.58 0.55 0.48 0.73 0.79 4.16 7.66 11% 18% 58.03 64.6 76.63 79.07 27.48 43 13.88 16.77 0.67 1.03 18.5

3 Wendt (India) Ltd. Machine tools 51.99 55.49 0.46 0.47 1.24 1.22 14.95 14.6 29% 26% 75.27 76.49 85.04 61.8 64.12 62.46 16.97 18.03 5.81 2.62 18.8

4 Guindy Machine Tools Ltd. Machine tools 31.17 31.42 0.44 0.48 0.86 0.85 8.97 9.16 29% 29% 28.16 34 70.29 70.54 36.42 35.75 24.9 37.7 8.82 14.36 22.7

5 I T L Industries Ltd. Sawing or cutting off machines 22.14 33.87 0.71 0.76 2.83 3.12 2.72 3.43 12% 10% 100.96 83.2 211.95 109.48 92.07 70.07 24.09 14.52 0 0.68 22.7

6 Kulkarni Power Tools Ltd. Machine tools for drilling, boring, milling, etc. 44.75 58.55 0.66 0.66 1.03 1.18 8.95 9.85 20% 17% 91.8 81.64 89.58 73.21 58.22 53.63 36.31 29.26 25 17.02 24.0

7 T A L Manufacturing Solutions Ltd. Machine tools 141.05 218.84 0.72 0.76 5.64 2.71 13.65 17.85 10% 8% 82.66 80.7 103.31 136.41 71.52 45.8 46.52 26.1 2.34 2.42 24.3

8 A C E Designers Ltd. Lathes 266.76 245.15 0.61 0.64 5.27 2.46 74.68 64.25 28% 26% 45.56 64.36 79.42 91.05 23.95 37.95 27.07 50.79 13.53 12.99 25.7

9 Revathi Equipment Ltd. Drilling machines 92.5 125.87 0.61 0.64 1.28 5.78 26.39 40.99 29% 33% 99.07 103.23 89.23 74.55 122.01 91.68 118.52 96.32 29.09 18.62 26.6

10 Bajaj Ventures Ltd. Machine tools 34.46 47.76 0.78 0.76 2.87 4.03 2.4 7.73 7% 16% 93.88 79.67 97.75 88.97 82.79 62.43 19.55 10.04 63.82 55.71 27.3

11 Akar Tools Ltd. Machine tools 55.55 69.9 0.69 0.65 2.11 1.40 4.7 6.92 8% 10% 57.33 59.69 68.2 55.43 31.23 25.58 52.96 56.59 24.99 22.5 28.4

12 Mitsubishi Heavy Inds. India Precision Tools Machine tools 37.45 42.99 0.42 0.38 0.61 0.28 13.56 14.81 36% 34% 68.79 79.76 36.5 260.09 175.78 214.18 38.87 34.6 1.75 1.74 29.5

13 Premier Ltd. Machine tools 86.04 111.07 0.68 0.63 1.00 0.59 63.97 36.71 74% 33% 351.98 209.97 91.52 113.04 65.31 103.74 38.97 49.06 30.31 44.83 31.6

14 Dagger-Forst Tools Ltd. Broaching machines 36.79 41.2 0.59 0.58 0.41 0.42 7.5 5.97 20% 14% 65.94 90.25 71.75 90.87 170.4 200.73 51.31 42.44 12.69 15.55 32.7

15 Forbes & Co. Ltd. Machine tools 629.64 268.98 0.67 0.55 1.32 1.03 67.92 31.92 11% 12% 66.69 119.83 110.69 158.99 73.4 156.98 18.82 37.51 29.28 49.22 33.8

16 Electronica Machine Tools Ltd. Machines for working on wire 132.52 117.65 0.70 0.80 2.66 2.41 17.34 13.31 13% 11% 64.8 89.02 92.24 93.9 116.39 164.98 60.72 97.38 7.05 8.19 35.5

17 H M T Machine Tools Ltd. Machine tools 237.71 240.77 0.52 0.54 4.09 3.17 -98.76 -27 -42% -11% 111.2 133.67 224.2 195.94 173.59 199.77 79.94 97.33 41.24 39.95 36.8

18 Addison & Co. Ltd. Drilling machines 132.63 154.41 0.76 0.73 1.83 1.97 16.19 20.27 12% 13% 73.92 72.1 61.67 62.21 80.2 57.84 151.52 167.96 74.28 86.42 36.8

19 A S B International Pvt. Ltd. Machine tools 157.18 172.82 0.71 0.70 1.43 1.68 31.7 17.62 20% 10% 39.98 33 73.27 92.37 94.3 114.53 43.12 52.08 29.18 26.02 39.1

20 Bemco Hydraulics Ltd. Hydraulic presses 19.13 20.9 0.76 0.71 2.00 2.32 1.85 2.26 10% 11% 78.69 98.54 259.52 239.04 50.05 64.55 79.98 121.56 82.46 78.75 39.6

1 Xomox Sanmar Ltd. Industrial valves 59.05 65.25 0.53 0.57 5.50 6.42 19.86 19.95 34% 31% 62.9 80.11 58.62 49.91 47.34 48.53 19.55 19.98 0.04 0.06 33.9

2 Swaraj Engines Ltd. Diesel engines 129.62 128.84 0.74 0.75 2.97 3.20 27.19 26.63 21% 21% 93.55 66.64 36.06 31.33 27.5 29.48 1.2 1.95 7.31 4.15 42.4

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 120: Reinventing the Supply Chain

3 Shilp Gravures Ltd. Printing machinery 26.21 34.1 0.42 0.43 0.48 0.54 8.79 12.93 34% 38% 100.56 95.45 78.24 94.58 53.02 52.27 21.12 14.48 0.67 0.39 43.8

4 W P I L Ltd. Pumps 64.83 109.84 0.64 0.74 3.48 6.68 6.78 11.68 10% 11% 144.81 115.5 110.56 127.91 65.74 33.47 16.83 6.37 4.54 3.43 50.6

5 Cenlub Industries Ltd. Pumps 11.7 14.77 0.81 0.62 4.86 2.85 1.61 1.88 14% 13% 80.66 75.05 64.97 51.3 58.2 38.76 8.67 10.95 9.68 8.28 54.4

6 Anfilco Ltd. Environment Control Equipment 22.79 22.48 0.69 0.70 0.82 0.83 3.13 2.97 14% 13% NA 149.12 119.31 110.95 NA 42.07 NA 1.87 NA 4.26 57.2

7 Vanaz Engineers Ltd. Other valves 85.99 134.04 0.71 0.68 5.33 7.01 9.16 11.86 11% 9% 26.4 28.22 37.94 34.68 14.73 13.93 52.99 47.57 2 1.29 57.8

8 Avery India Ltd. Weighing machinery 66.57 75.12 0.60 0.64 10.10 9.45 9.7 10.55 15% 14% 58.74 56.08 87.75 69.17 92.12 86.48 9.15 8.38 2.48 3.58 62.2

9 Johnson Pump (India) Ltd. Centrifugal pumps 33.39 46.58 0.70 0.67 3.67 5.06 5.29 6.58 16% 14% 91.97 86.26 93.25 94.01 76.19 70.84 13.42 12.86 5.64 4.97 63.3

10 Lincoln Helios (India) Ltd. Industrial machinery 72.77 96.35 0.56 0.53 10.25 15.55 22.55 35.4 31% 37% NA 77.59 89.74 105.69 NA 66.04 NA 24.78 NA 12.31 64.6

11 Fairfield Atlas Ltd. Gears 110.5 157.08 0.62 0.66 1.35 2.06 23.26 29.97 21% 19% 31.69 41.77 150.15 86.64 31.55 29.31 39.32 28.39 4.29 6.12 67.7

12 Rajoo Engineers Ltd. Rubber & plastic products machinery 40.61 44.42 0.70 0.81 4.21 4.74 4 4.81 10% 11% 73.82 111 97.29 128.91 19.44 15.24 17.49 9.51 3.06 13.25 67.8

13 Galaxy Agrico Exports Ltd. Agricultural implements 26.25 15.02 0.67 0.69 2.97 1.65 1.81 1.26 7% 8% 30.55 44.77 31.14 36.98 29.01 53.95 17.02 37.35 11.85 2.21 71.0

14 A B C Bearings Ltd. Ball or roller bearings 184.54 168 0.55 0.53 2.66 2.27 42.64 35.03 23% 21% 64.53 78.29 51.99 65.62 32.59 35.81 27.11 26.85 29.52 35.96 72.0

15 International Combustion (India) Ltd. Mining, construction & earth moving machinery 80.23 95.89 0.59 0.65 2.56 3.12 15.9 21.45 20% 22% 60.99 73.54 88.42 92.04 71.77 66.34 19.57 13.29 16.51 15.13 73.3

16 Remi Process Plant & Machinery Ltd. Agitators & mixers 18.38 23.9 0.77 0.74 3.26 3.27 2.8 3.44 15% 14% 41.56 66.6 58.65 167.23 52.89 73.9 19.15 24.66 0.45 0.37 73.8

17 Bharat Pumps & Compressors Ltd. Compressors 128.22 177.54 0.73 0.62 13.36 15.09 148.29 38.17 116% 21% 159.21 130.73 112.72 109.6 112.58 80.9 61.01 51.21 9.75 6.4 73.9

18 Mather & Platt Pumps Ltd. Centrifugal pumps 132.09 182.9 0.68 0.75 6.57 7.53 17.01 20.76 13% 11% 123.21 155.37 130.67 160.81 25.73 46.21 31.68 26.91 8.3 14.05 74.9

19 V S T Tillers Tractors Ltd. Power tillers 163.88 190.55 0.70 0.78 4.13 5.01 22.64 25.6 14% 13% 47.78 52.14 85.15 89.22 68.51 68.42 6.37 2.75 6.15 9.65 75.4

20 Anest Iwata Motherson Ltd. Industrial valves 14.1 15.43 0.70 0.64 1.11 0.66 1.54 1.77 11% 11% 87.15 103.33 85.19 80.72 85.15 87.99 6.76 7.63 4.58 9.7 76.0

21 G G Dandekar Machine Works Ltd. Rice mill machinery 19.81 18.85 0.51 0.56 27.51 21.14 25.31 5.56 128% 29% 3.84 1.27 92.04 55.66 77.92 102.36 18.73 18.5 6.46 13.71 76.8

22 Kilburn Engineering Ltd. Dryers 64.32 73.46 0.73 0.72 9.93 6.55 6.44 31.68 10% 43% 102.92 96.15 190.14 198.75 24.22 31.72 52.66 76.52 9.92 9.04 77.1

23 Coen Bharat Ltd. Furnace burners 23.19 38.54 0.87 0.57 7.96 9.12 2.47 2.3 11% 6% 143.94 70.63 123.62 75.37 79.2 79.49 133.79 71.08 0 1.76 77.8

24 Kerala Agro Machinery Corpn. Ltd. Agricultural machinery 92.09 103.05 0.74 0.78 10.99 13.27 9.43 10.25 10% 10% 44.92 57.9 57.47 40.48 59.15 61.5 18.47 17.98 33.46 17.43 78.0

25 Orson Holdings Co. Ltd. Industrial valves 8.05 15.3 0.66 0.56 2.40 2.80 1.1 2.29 14% 15% 23.47 44.63 6.01 20.74 90.36 61.29 20.93 22.5 30.94 29.83 78.8

26 Ferromatik Milacron India Ltd. Injection moulding machines 135.07 165.76 0.65 0.67 3.38 3.63 16.98 23.7 13% 14% 36.68 38.18 107.34 90.25 96.2 96.5 31.62 28.62 1.82 1.29 79.8

27 Sulzer India Ltd. Textile (incl. jute) machinery 85.02 130.25 0.61 0.59 2.81 4.17 11.27 29.35 13% 23% 73.41 44.08 124.53 107.68 104.47 86.2 7.15 35.73 10.2 5.85 81.8

28 Anup Engineering Ltd. Chemical machinery 31.62 63.85 0.96 0.57 12.44 9.15 2.37 13.56 7% 21% 76.6 57.29 97.31 43.72 49.34 54.3 45.57 92.55 25.89 17.64 83.3

29 Kabra Extrusiontechnik Ltd. Rubber & plastic products machinery 127.72 147.01 0.82 0.78 2.78 2.81 14.2 23.33 11% 16% 30.35 32.56 53.47 70.13 58.47 69.56 41.44 50.77 1.78 1.56 84.2

30 Bosch Rexroth (India) Ltd. General purpose machinery 221.76 270.18 0.71 0.74 4.82 5.19 35.38 46.77 16% 17% 98.67 95.18 90.35 79.58 87.81 98.38 19.7 25.94 16.61 16.12 84.3

31 Kansara Bearings Ltd. Ball or roller bearings 15.69 16.16 0.73 0.78 3.72 5.38 2.93 1.75 19% 11% 4.22 13.32 114.64 123.31 35.37 54.38 13.67 16.46 7.17 8.89 84.7

32 Shivagrico Implements Ltd. Agricultural implements 13.95 12 0.50 0.48 1.83 1.43 1.37 1.6 10% 13% 34.47 31.48 26.75 54.63 43.06 79.46 29.63 27.15 19.22 11.89 85.4

33 Eaton Fluid Power Ltd. Other valves 126.39 164.45 0.83 0.74 4.04 5.08 10.63 16.3 8% 10% 106.82 112.22 103.43 103.49 58.54 60.43 32.02 23.89 30.47 28.51 85.9

34 G M M Pfaudler Ltd. Chemical machinery 116.24 146.17 0.60 0.69 2.46 3.40 21.82 26.72 19% 18% 63.52 69.87 95.28 96.48 120.57 83.69 57.92 78.19 1.38 0.76 86.4

35 Lokesh Machines Ltd. General purpose machinery 90.35 110.43 0.30 0.30 0.41 0.42 24.79 29.72 27% 27% 88.34 91.29 92.36 90.72 30.36 37.09 136.49 160.11 13.43 16.51 87.0

36 Shanthi Gears Ltd. Gears 203.34 245.98 0.51 0.52 0.57 0.63 77.87 96.85 38% 39% 38.86 37.02 57.99 45.94 120.25 102.26 74.53 74.61 4.89 3.05 87.0

37 Sam Turbo Industry Ltd. Pumps 56.13 71.54 0.65 0.65 3.51 4.95 6.49 8.31 12% 12% NA 23.44 131.69 104.65 NA 29.6 NA 48.61 NA 15.43 88.9

38 Crane Process Flow Technologies (India) Ltd. Industrial valves 65.06 55.83 0.64 0.61 8.84 6.58 8.88 0.39 14% 1% 75.53 86.93 106.52 85.43 76.32 117.3 42.55 36.64 9.92 9.67 89.0

39 Premier Irrigation Equipment Ltd. Agricultural machinery 66.08 25.41 0.67 0.65 4.07 4.91 6.07 2.07 9% 8% 165.31 304.38 112.82 63.06 20.43 39.5 33.73 75.89 74.62 143.25 89.9

40 Alfred Herbert Ltd. Rubber manufacturing machinery 18.29 17.01 0.70 0.62 18.96 13.68 1.22 0.98 7% 6% 69.21 79.26 139.87 129.81 94.19 98.27 115.57 71.5 4.15 2.74 91.9

41 Shakti Pumps (India) Ltd. Pumps 40.24 61.16 0.75 0.85 2.69 1.81 5.03 8.13 13% 13% 77.41 71.03 25.3 41.96 53.75 58.62 83.74 42.23 16.84 20.58 92.9

42 Flender Ltd. Gears 113.11 136.31 0.53 0.63 1.84 1.99 29.49 32.02 26% 23% 49.79 55.48 112.2 132.68 87.79 86.22 26.75 46.98 15.75 6.8 93.5

43 Austin Engineering Co. Ltd. Ball or roller bearings 64.48 73.6 0.54 0.57 2.71 2.93 11.37 12.29 18% 17% 88.64 84.77 88.94 80.09 57.45 56.43 126.84 154.01 26.66 25.67 94.2

44 Veejay Lakshmi Engg. Works Ltd. Textile (incl. jute) machinery 81.86 79.27 0.61 0.74 1.33 1.29 14.29 20.33 17% 26% 5.57 10.94 77.65 72.8 49.95 57.72 103.3 119.2 6.36 3.59 94.6

45 D H P India Ltd. Other valves 10.18 12.19 0.75 0.66 1.31 1.45 1.34 1.92 13% 16% 10.94 7.55 56.15 51.99 139.29 111.61 3.93 1.73 18.63 26.53 95.3

46 Kilburn Office Automation Ltd. Franking machines 29.16 29.89 0.84 0.77 10.84 9.76 6.24 6.6 21% 22% 397.25 326.57 438.92 374.68 375.53 306.51 5.34 7.07 182.5 207.6 97.5

47 S N L Bearings Ltd. Needle roller bearings 14.81 16.05 0.50 0.47 1.18 1.95 4.06 4.47 27% 28% 76.66 83.26 44.24 47.01 106.64 103.98 53.79 61.31 39.63 32.34 98.2

48 Polymechplast Machines Ltd. Rubber & plastic products machinery 12.35 15.78 0.86 0.77 6.14 7.73 1.05 1.62 9% 10% 64.4 81.74 111.33 107.97 81.34 60.46 56.02 53.55 22.9 19.4 99.4

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers118

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

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net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 119

3 Shilp Gravures Ltd. Printing machinery 26.21 34.1 0.42 0.43 0.48 0.54 8.79 12.93 34% 38% 100.56 95.45 78.24 94.58 53.02 52.27 21.12 14.48 0.67 0.39 43.8

4 W P I L Ltd. Pumps 64.83 109.84 0.64 0.74 3.48 6.68 6.78 11.68 10% 11% 144.81 115.5 110.56 127.91 65.74 33.47 16.83 6.37 4.54 3.43 50.6

5 Cenlub Industries Ltd. Pumps 11.7 14.77 0.81 0.62 4.86 2.85 1.61 1.88 14% 13% 80.66 75.05 64.97 51.3 58.2 38.76 8.67 10.95 9.68 8.28 54.4

6 Anfilco Ltd. Environment Control Equipment 22.79 22.48 0.69 0.70 0.82 0.83 3.13 2.97 14% 13% NA 149.12 119.31 110.95 NA 42.07 NA 1.87 NA 4.26 57.2

7 Vanaz Engineers Ltd. Other valves 85.99 134.04 0.71 0.68 5.33 7.01 9.16 11.86 11% 9% 26.4 28.22 37.94 34.68 14.73 13.93 52.99 47.57 2 1.29 57.8

8 Avery India Ltd. Weighing machinery 66.57 75.12 0.60 0.64 10.10 9.45 9.7 10.55 15% 14% 58.74 56.08 87.75 69.17 92.12 86.48 9.15 8.38 2.48 3.58 62.2

9 Johnson Pump (India) Ltd. Centrifugal pumps 33.39 46.58 0.70 0.67 3.67 5.06 5.29 6.58 16% 14% 91.97 86.26 93.25 94.01 76.19 70.84 13.42 12.86 5.64 4.97 63.3

10 Lincoln Helios (India) Ltd. Industrial machinery 72.77 96.35 0.56 0.53 10.25 15.55 22.55 35.4 31% 37% NA 77.59 89.74 105.69 NA 66.04 NA 24.78 NA 12.31 64.6

11 Fairfield Atlas Ltd. Gears 110.5 157.08 0.62 0.66 1.35 2.06 23.26 29.97 21% 19% 31.69 41.77 150.15 86.64 31.55 29.31 39.32 28.39 4.29 6.12 67.7

12 Rajoo Engineers Ltd. Rubber & plastic products machinery 40.61 44.42 0.70 0.81 4.21 4.74 4 4.81 10% 11% 73.82 111 97.29 128.91 19.44 15.24 17.49 9.51 3.06 13.25 67.8

13 Galaxy Agrico Exports Ltd. Agricultural implements 26.25 15.02 0.67 0.69 2.97 1.65 1.81 1.26 7% 8% 30.55 44.77 31.14 36.98 29.01 53.95 17.02 37.35 11.85 2.21 71.0

14 A B C Bearings Ltd. Ball or roller bearings 184.54 168 0.55 0.53 2.66 2.27 42.64 35.03 23% 21% 64.53 78.29 51.99 65.62 32.59 35.81 27.11 26.85 29.52 35.96 72.0

15 International Combustion (India) Ltd. Mining, construction & earth moving machinery 80.23 95.89 0.59 0.65 2.56 3.12 15.9 21.45 20% 22% 60.99 73.54 88.42 92.04 71.77 66.34 19.57 13.29 16.51 15.13 73.3

16 Remi Process Plant & Machinery Ltd. Agitators & mixers 18.38 23.9 0.77 0.74 3.26 3.27 2.8 3.44 15% 14% 41.56 66.6 58.65 167.23 52.89 73.9 19.15 24.66 0.45 0.37 73.8

17 Bharat Pumps & Compressors Ltd. Compressors 128.22 177.54 0.73 0.62 13.36 15.09 148.29 38.17 116% 21% 159.21 130.73 112.72 109.6 112.58 80.9 61.01 51.21 9.75 6.4 73.9

18 Mather & Platt Pumps Ltd. Centrifugal pumps 132.09 182.9 0.68 0.75 6.57 7.53 17.01 20.76 13% 11% 123.21 155.37 130.67 160.81 25.73 46.21 31.68 26.91 8.3 14.05 74.9

19 V S T Tillers Tractors Ltd. Power tillers 163.88 190.55 0.70 0.78 4.13 5.01 22.64 25.6 14% 13% 47.78 52.14 85.15 89.22 68.51 68.42 6.37 2.75 6.15 9.65 75.4

20 Anest Iwata Motherson Ltd. Industrial valves 14.1 15.43 0.70 0.64 1.11 0.66 1.54 1.77 11% 11% 87.15 103.33 85.19 80.72 85.15 87.99 6.76 7.63 4.58 9.7 76.0

21 G G Dandekar Machine Works Ltd. Rice mill machinery 19.81 18.85 0.51 0.56 27.51 21.14 25.31 5.56 128% 29% 3.84 1.27 92.04 55.66 77.92 102.36 18.73 18.5 6.46 13.71 76.8

22 Kilburn Engineering Ltd. Dryers 64.32 73.46 0.73 0.72 9.93 6.55 6.44 31.68 10% 43% 102.92 96.15 190.14 198.75 24.22 31.72 52.66 76.52 9.92 9.04 77.1

23 Coen Bharat Ltd. Furnace burners 23.19 38.54 0.87 0.57 7.96 9.12 2.47 2.3 11% 6% 143.94 70.63 123.62 75.37 79.2 79.49 133.79 71.08 0 1.76 77.8

24 Kerala Agro Machinery Corpn. Ltd. Agricultural machinery 92.09 103.05 0.74 0.78 10.99 13.27 9.43 10.25 10% 10% 44.92 57.9 57.47 40.48 59.15 61.5 18.47 17.98 33.46 17.43 78.0

25 Orson Holdings Co. Ltd. Industrial valves 8.05 15.3 0.66 0.56 2.40 2.80 1.1 2.29 14% 15% 23.47 44.63 6.01 20.74 90.36 61.29 20.93 22.5 30.94 29.83 78.8

26 Ferromatik Milacron India Ltd. Injection moulding machines 135.07 165.76 0.65 0.67 3.38 3.63 16.98 23.7 13% 14% 36.68 38.18 107.34 90.25 96.2 96.5 31.62 28.62 1.82 1.29 79.8

27 Sulzer India Ltd. Textile (incl. jute) machinery 85.02 130.25 0.61 0.59 2.81 4.17 11.27 29.35 13% 23% 73.41 44.08 124.53 107.68 104.47 86.2 7.15 35.73 10.2 5.85 81.8

28 Anup Engineering Ltd. Chemical machinery 31.62 63.85 0.96 0.57 12.44 9.15 2.37 13.56 7% 21% 76.6 57.29 97.31 43.72 49.34 54.3 45.57 92.55 25.89 17.64 83.3

29 Kabra Extrusiontechnik Ltd. Rubber & plastic products machinery 127.72 147.01 0.82 0.78 2.78 2.81 14.2 23.33 11% 16% 30.35 32.56 53.47 70.13 58.47 69.56 41.44 50.77 1.78 1.56 84.2

30 Bosch Rexroth (India) Ltd. General purpose machinery 221.76 270.18 0.71 0.74 4.82 5.19 35.38 46.77 16% 17% 98.67 95.18 90.35 79.58 87.81 98.38 19.7 25.94 16.61 16.12 84.3

31 Kansara Bearings Ltd. Ball or roller bearings 15.69 16.16 0.73 0.78 3.72 5.38 2.93 1.75 19% 11% 4.22 13.32 114.64 123.31 35.37 54.38 13.67 16.46 7.17 8.89 84.7

32 Shivagrico Implements Ltd. Agricultural implements 13.95 12 0.50 0.48 1.83 1.43 1.37 1.6 10% 13% 34.47 31.48 26.75 54.63 43.06 79.46 29.63 27.15 19.22 11.89 85.4

33 Eaton Fluid Power Ltd. Other valves 126.39 164.45 0.83 0.74 4.04 5.08 10.63 16.3 8% 10% 106.82 112.22 103.43 103.49 58.54 60.43 32.02 23.89 30.47 28.51 85.9

34 G M M Pfaudler Ltd. Chemical machinery 116.24 146.17 0.60 0.69 2.46 3.40 21.82 26.72 19% 18% 63.52 69.87 95.28 96.48 120.57 83.69 57.92 78.19 1.38 0.76 86.4

35 Lokesh Machines Ltd. General purpose machinery 90.35 110.43 0.30 0.30 0.41 0.42 24.79 29.72 27% 27% 88.34 91.29 92.36 90.72 30.36 37.09 136.49 160.11 13.43 16.51 87.0

36 Shanthi Gears Ltd. Gears 203.34 245.98 0.51 0.52 0.57 0.63 77.87 96.85 38% 39% 38.86 37.02 57.99 45.94 120.25 102.26 74.53 74.61 4.89 3.05 87.0

37 Sam Turbo Industry Ltd. Pumps 56.13 71.54 0.65 0.65 3.51 4.95 6.49 8.31 12% 12% NA 23.44 131.69 104.65 NA 29.6 NA 48.61 NA 15.43 88.9

38 Crane Process Flow Technologies (India) Ltd. Industrial valves 65.06 55.83 0.64 0.61 8.84 6.58 8.88 0.39 14% 1% 75.53 86.93 106.52 85.43 76.32 117.3 42.55 36.64 9.92 9.67 89.0

39 Premier Irrigation Equipment Ltd. Agricultural machinery 66.08 25.41 0.67 0.65 4.07 4.91 6.07 2.07 9% 8% 165.31 304.38 112.82 63.06 20.43 39.5 33.73 75.89 74.62 143.25 89.9

40 Alfred Herbert Ltd. Rubber manufacturing machinery 18.29 17.01 0.70 0.62 18.96 13.68 1.22 0.98 7% 6% 69.21 79.26 139.87 129.81 94.19 98.27 115.57 71.5 4.15 2.74 91.9

41 Shakti Pumps (India) Ltd. Pumps 40.24 61.16 0.75 0.85 2.69 1.81 5.03 8.13 13% 13% 77.41 71.03 25.3 41.96 53.75 58.62 83.74 42.23 16.84 20.58 92.9

42 Flender Ltd. Gears 113.11 136.31 0.53 0.63 1.84 1.99 29.49 32.02 26% 23% 49.79 55.48 112.2 132.68 87.79 86.22 26.75 46.98 15.75 6.8 93.5

43 Austin Engineering Co. Ltd. Ball or roller bearings 64.48 73.6 0.54 0.57 2.71 2.93 11.37 12.29 18% 17% 88.64 84.77 88.94 80.09 57.45 56.43 126.84 154.01 26.66 25.67 94.2

44 Veejay Lakshmi Engg. Works Ltd. Textile (incl. jute) machinery 81.86 79.27 0.61 0.74 1.33 1.29 14.29 20.33 17% 26% 5.57 10.94 77.65 72.8 49.95 57.72 103.3 119.2 6.36 3.59 94.6

45 D H P India Ltd. Other valves 10.18 12.19 0.75 0.66 1.31 1.45 1.34 1.92 13% 16% 10.94 7.55 56.15 51.99 139.29 111.61 3.93 1.73 18.63 26.53 95.3

46 Kilburn Office Automation Ltd. Franking machines 29.16 29.89 0.84 0.77 10.84 9.76 6.24 6.6 21% 22% 397.25 326.57 438.92 374.68 375.53 306.51 5.34 7.07 182.5 207.6 97.5

47 S N L Bearings Ltd. Needle roller bearings 14.81 16.05 0.50 0.47 1.18 1.95 4.06 4.47 27% 28% 76.66 83.26 44.24 47.01 106.64 103.98 53.79 61.31 39.63 32.34 98.2

48 Polymechplast Machines Ltd. Rubber & plastic products machinery 12.35 15.78 0.86 0.77 6.14 7.73 1.05 1.62 9% 10% 64.4 81.74 111.33 107.97 81.34 60.46 56.02 53.55 22.9 19.4 99.4

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

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49 Rieter-Lmw Machinery Ltd. Textile spinning machines 128.49 147.52 0.75 0.77 4.13 2.59 13.05 10.31 10% 7% 43.11 21.03 81.05 90.45 63.3 77.31 28.92 31.87 11.09 9.45 100.8

50 Gansons Ltd. Chemical machinery 47.49 48.04 0.76 0.84 5.34 6.07 3.51 2.94 7% 6% 35 54.38 94.59 149.53 48.34 48.38 50.1 59.1 5.93 10.68 102.0

51 Swiss Glascoat Equipments Ltd. Other chemical machinery 33.26 41.4 0.67 0.62 1.60 1.92 4.62 6.21 14% 15% 46.11 56.31 86.23 101.28 112.04 107.52 64.48 74.34 9.1 5.35 103.1

52 Bharat Heavy Plate & Vessels Ltd. Chemical machinery 172.24 167.53 0.50 0.76 5.99 9.50 23.63 -43.46 14% -26% 165.48 212.53 448.75 355.11 179.51 112.44 43.44 36.78 21.03 16 105.4

53 Stovec Industries Ltd. Printing machinery 37.14 31.15 0.62 0.71 4.20 2.52 4.27 4.19 11% 13% 108.35 123.92 83.46 178.09 135.32 112.4 48.42 48.45 13.28 14.17 105.7

54 Windsor Machines Ltd. Rubber & plastic products machinery 101.29 115.05 0.78 0.79 5.30 6.71 -16.28 -22.36 -16% -19% 25.53 23.05 211.23 198.91 175.45 93.62 102.13 48.94 1.88 2.39 105.9

55 Hari Machines Ltd. Other industrial machinery 87.27 109.03 0.88 0.81 3.36 2.98 10.1 11.47 12% 11% 38.03 42.17 107.26 123.78 145.25 142.37 41.39 58 0.5 0.39 108.2

56 Glass Equipment (India) Ltd. Other industrial machinery 10.55 18.05 0.50 0.59 1.23 1.22 2.04 3.4 19% 19% NA 66.71 59.86 48.93 NA 283.74 NA 49.65 NA 30.77 110.2

57 Belliss India Ltd. Steam turbines 57.63 24.4 0.78 0.73 13.40 6.08 3.78 1.47 7% 6% 38.73 82.82 130.63 240.83 86.83 248.07 22.83 60.54 3.1 6.42 112.8

58 U T Ltd. Gears 88.11 104.22 0.67 0.80 2.81 3.34 7.52 1.53 9% 1% 68.14 61.63 158.54 120.58 221.84 240.37 101.06 115.59 7.39 3.42 119.4

59 Lagan Engineering Co. Ltd. Textile (incl. jute) machinery 14.29 25.09 0.37 0.26 0.85 0.69 1.23 2.21 9% 9% 2.17 1.82 128.47 97.29 151.06 155.94 64 45.02 38.47 16.71 119.7

60 Lakshmi Automatic Loom Works Ltd. Textile (incl. jute) machinery 35.67 23.18 0.71 0.59 5.50 3.06 4.7 1.19 13% 5% 23.5 44.4 177.12 299.44 94.72 120.03 33.42 50.89 10.67 16.25 123.8

61 Schlafhorst Engineering (India) Ltd. Textile winding or reeling machines 11.6 12.31 0.98 0.67 2.68 2.10 11.15 2.4 96% 19% 51.84 24.36 71.7 60.83 148.87 163.8 53.28 87.31 15.6 35.29 127.2

62 H M T Bearings Ltd. Ball or roller bearings 26.19 13.36 0.71 0.99 3.63 3.19 -2.97 -14.26 -11% -107% 99.41 147.14 157.77 295.72 83.06 144.17 55.55 58.95 27.04 26.73 129.3

1 Hind Aluminium Inds. Ltd. Aluminium bars & rods 202.46 206.5 0.91 0.93 9.72 7.78 10.55 9.86 5% 5% 40.14 41.21 51.8 30.64 12.32 3.64 0.57 2.97 1.55 2.37 25.6

2 Palco Metals Ltd. Aluminium castings 95.78 99.94 0.88 0.90 12.28 6.63 3.66 4.76 4% 5% 23.04 39.77 17.25 10.41 12.76 11.89 0.15 0.04 8.61 5.35 27.2

3 P G Foils Ltd. Aluminium foils 103.15 179.74 0.84 0.82 12.66 18.90 4.7 15.58 5% 9% 103.93 72.71 51.97 22.53 42.71 49.6 8.12 8.57 17.44 9.09 31.8

4 Hindustan Tin Works Ltd. Tin container 174.23 185.8 0.85 0.92 4.29 4.26 14.65 15.25 8% 8% 93.51 93.87 25.47 50.28 45.19 27.27 10.93 9.8 8.57 8.05 33.6

5 Cubex Tubings Ltd. Copper tubes & pipes 92.29 97.78 0.83 0.78 7.98 6.85 34.17 6.95 37% 7% 57.05 71.19 25.38 13.78 8.85 6.69 27.81 17.38 0.82 17.39 33.8

6 Century Extrusions Ltd. Other aluminium products 102.66 101.56 0.87 0.87 12.61 12.13 4.68 7.67 5% 8% 28.9 37.02 34.6 23.65 19.18 16.15 19.73 16.21 2.08 2.92 33.9

7 Alumeco India Extrusion Ltd. Other aluminium products 70.75 126.21 0.87 0.91 6.02 11.33 3.33 4 5% 3% 23.8 20.39 128.35 56.9 59.89 38.43 8.2 3.06 2.62 0.59 34.7

8 Man Aluminium Ltd. Other aluminium structures 38.67 40.29 0.89 0.90 3.40 3.41 4.09 3.76 11% 9% NA 68.33 28.24 38.31 NA 7.96 NA 18.18 NA 7.93 35.6

9 Light Alloy Products Ltd. Aluminium castings 48.8 51.46 0.49 0.42 1.43 0.74 16.84 17.78 35% 35% 35.44 55.53 30.51 71.89 25.23 49.63 16 14.97 6.74 1.13 37.2

10 Sudal Industries Ltd. Other aluminium products 68.76 68.26 0.86 0.81 4.17 3.73 4.76 6.47 7% 9% 52.21 52.29 100.67 71.83 51.25 51.6 15.85 12.67 0.36 0.37 38.2

11 Fibre Foils Ltd. Tin container 20.66 30.15 0.70 0.66 1.16 0.52 2.25 5.05 11% 17% NA 50.45 80.2 60.35 NA 73.26 NA 11.38 NA 1.7 39.7

12 Nissan Copper Ltd. Copper products, nec 95.37 129.63 0.84 0.88 3.68 3.73 9.77 16.92 10% 13% 58.87 82.16 62.84 74.3 20.14 26.98 33.25 33.22 16.43 10.03 43.1

13 Aluminium Powder Co. Ltd. Aluminium powders, flakes & paste 14.19 17.03 1.01 0.41 8.21 4.64 2.21 2.71 16% 16% 45.91 46.54 8.65 15.58 75.52 44.76 12.36 14.58 66.79 48.65 43.9

14 Alom Extrusions Ltd. Aluminium structures 73.68 80.5 0.90 0.92 5.82 3.86 3.11 3.94 4% 5% 36.44 28.03 74.35 50.05 20.36 17.72 10.88 12.3 9.05 9.73 44.4

15 India Foils Ltd. Aluminium foils 208.63 168.95 0.88 0.91 1.23 1.16 2.39 5.13 1% 3% 66.16 80.31 103.85 141.26 26.18 28.54 6.72 6.79 6.79 9.92 44.8

16 Bhoruka Aluminium Ltd. Other aluminium products 114.71 147.76 0.84 0.82 5.92 5.18 8.56 16.57 7% 11% 28.96 28.81 58.57 49.84 43.64 38.56 21.38 20.05 9.84 9.64 45.3

17 Shree Narmada Aluminium Inds. Ltd. Other aluminium products 13.52 15.65 0.95 1.10 8.62 12.40 -0.95 -0.99 -7% -6% 41.5 58.14 527.55 438.9 45.54 37.29 8.84 4.57 0.88 10.13 45.4

18 Baroda Extrusion Ltd. Copper products, nec 18.51 20.29 1.03 0.80 8.80 8.14 6.54 1.2 35% 6% 38.55 38.56 94.22 91.38 3.81 13.06 54.41 51.44 8.63 10.03 47.2

19 Shetron Ltd. Tin 85.99 106.46 0.72 0.73 1.05 1.09 16.44 18.87 19% 18% 74.42 52.98 53.01 77.83 137.37 122.05 35.76 31.18 2.83 2.2 47.6

20 Arcotech Ltd. Non-ferrous metals, nec 3.42 27.61 2.19 1.00 0.60 1.91 0.39 2.16 11% 8% 29.81 15.98 116.01 61.73 14.76 7.26 288.73 89.27 -0.84 4.27 48.1

21 Multimetals Ltd. Copper tubes & pipes 110.84 103.22 0.94 0.78 10.98 7.15 9.67 11.6 9% 11% 39.93 50.69 51.05 77.43 33.47 29.3 45.5 77.92 11.6 11.25 49.5

22 Sacheta Metals Ltd. Aluminium kitchen ware 31.55 29.06 0.90 0.84 7.35 4.04 0.9 1.63 3% 6% 20.82 23.85 39.35 94.54 42.92 97.46 7.3 7.84 3.68 7.14 50.9

23 Rapicut Carbides Ltd. Tungsten 15.03 17.56 0.68 0.86 7.87 11.52 1.61 2.32 11% 13% 58.24 53.59 35.39 18.77 70.94 51.4 40.51 48.37 57.22 50.56 51.5

24 Indo Alusys Inds. Ltd. Other aluminium products 98.39 145.16 0.98 0.84 1.45 0.90 6.53 8.79 7% 6% 47.72 37.7 91.64 70.53 44.42 45.27 5.11 6.34 32.73 26.45 51.6

25 Alcobex Metals Ltd. Copper tubes & pipes 151.92 108.52 0.85 0.81 7.72 5.69 2.56 -9.73 2% -9% 53.81 57.66 89.58 96.44 22.41 27.14 50.52 52.02 10.58 11.22 51.6

26 Gujarat Foils Ltd. Aluminium foils 88.35 83.47 1.08 1.06 15.06 15.59 3.86 4.16 4% 5% 45.37 51.17 69.93 91.97 23.09 27.19 11.51 15.84 14.1 34.89 52.5

27 Shalimar Wires Industries Ltd. Copper wire 65.41 67.42 0.50 0.48 0.46 0.52 25.31 27.04 39% 40% 237.28 246.51 381.13 400.24 121.99 153.08 160.17 205.62 4.18 5.14 52.8

28 Rose Zinc Ltd. Zinc 51.28 52.92 0.84 0.83 5.17 5.42 2.65 3.37 5% 6% 32.74 57.49 116.12 164.91 157.4 182.5 2.29 6.27 33.53 31.85 54.4

29 Oriental Containers Ltd. Tin container 100.24 126.03 0.72 0.72 0.80 1.07 9.79 7.8 10% 6% NA 84.67 101.07 99.63 NA 69.5 NA 16.37 NA 22.28 55.5

30 Chloride Metals Ltd. Lead 26.51 62.43 0.82 0.86 5.45 4.15 2.34 5.66 9% 9% NA 7.1 16.05 70.32 NA 73.96 NA 11.13 NA 22.1 55.8

31 Rane Diecast Ltd. Aluminium castings 8.87 16.37 1.03 0.89 0.42 0.71 -1.16 0.04 -13% 0% 80.78 84.71 119.33 152.7 50.57 56.47 13.98 8 39.81 58.88 59.1

non ferrous metAls

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers120

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 123: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 121

49 Rieter-Lmw Machinery Ltd. Textile spinning machines 128.49 147.52 0.75 0.77 4.13 2.59 13.05 10.31 10% 7% 43.11 21.03 81.05 90.45 63.3 77.31 28.92 31.87 11.09 9.45 100.8

50 Gansons Ltd. Chemical machinery 47.49 48.04 0.76 0.84 5.34 6.07 3.51 2.94 7% 6% 35 54.38 94.59 149.53 48.34 48.38 50.1 59.1 5.93 10.68 102.0

51 Swiss Glascoat Equipments Ltd. Other chemical machinery 33.26 41.4 0.67 0.62 1.60 1.92 4.62 6.21 14% 15% 46.11 56.31 86.23 101.28 112.04 107.52 64.48 74.34 9.1 5.35 103.1

52 Bharat Heavy Plate & Vessels Ltd. Chemical machinery 172.24 167.53 0.50 0.76 5.99 9.50 23.63 -43.46 14% -26% 165.48 212.53 448.75 355.11 179.51 112.44 43.44 36.78 21.03 16 105.4

53 Stovec Industries Ltd. Printing machinery 37.14 31.15 0.62 0.71 4.20 2.52 4.27 4.19 11% 13% 108.35 123.92 83.46 178.09 135.32 112.4 48.42 48.45 13.28 14.17 105.7

54 Windsor Machines Ltd. Rubber & plastic products machinery 101.29 115.05 0.78 0.79 5.30 6.71 -16.28 -22.36 -16% -19% 25.53 23.05 211.23 198.91 175.45 93.62 102.13 48.94 1.88 2.39 105.9

55 Hari Machines Ltd. Other industrial machinery 87.27 109.03 0.88 0.81 3.36 2.98 10.1 11.47 12% 11% 38.03 42.17 107.26 123.78 145.25 142.37 41.39 58 0.5 0.39 108.2

56 Glass Equipment (India) Ltd. Other industrial machinery 10.55 18.05 0.50 0.59 1.23 1.22 2.04 3.4 19% 19% NA 66.71 59.86 48.93 NA 283.74 NA 49.65 NA 30.77 110.2

57 Belliss India Ltd. Steam turbines 57.63 24.4 0.78 0.73 13.40 6.08 3.78 1.47 7% 6% 38.73 82.82 130.63 240.83 86.83 248.07 22.83 60.54 3.1 6.42 112.8

58 U T Ltd. Gears 88.11 104.22 0.67 0.80 2.81 3.34 7.52 1.53 9% 1% 68.14 61.63 158.54 120.58 221.84 240.37 101.06 115.59 7.39 3.42 119.4

59 Lagan Engineering Co. Ltd. Textile (incl. jute) machinery 14.29 25.09 0.37 0.26 0.85 0.69 1.23 2.21 9% 9% 2.17 1.82 128.47 97.29 151.06 155.94 64 45.02 38.47 16.71 119.7

60 Lakshmi Automatic Loom Works Ltd. Textile (incl. jute) machinery 35.67 23.18 0.71 0.59 5.50 3.06 4.7 1.19 13% 5% 23.5 44.4 177.12 299.44 94.72 120.03 33.42 50.89 10.67 16.25 123.8

61 Schlafhorst Engineering (India) Ltd. Textile winding or reeling machines 11.6 12.31 0.98 0.67 2.68 2.10 11.15 2.4 96% 19% 51.84 24.36 71.7 60.83 148.87 163.8 53.28 87.31 15.6 35.29 127.2

62 H M T Bearings Ltd. Ball or roller bearings 26.19 13.36 0.71 0.99 3.63 3.19 -2.97 -14.26 -11% -107% 99.41 147.14 157.77 295.72 83.06 144.17 55.55 58.95 27.04 26.73 129.3

1 Hind Aluminium Inds. Ltd. Aluminium bars & rods 202.46 206.5 0.91 0.93 9.72 7.78 10.55 9.86 5% 5% 40.14 41.21 51.8 30.64 12.32 3.64 0.57 2.97 1.55 2.37 25.6

2 Palco Metals Ltd. Aluminium castings 95.78 99.94 0.88 0.90 12.28 6.63 3.66 4.76 4% 5% 23.04 39.77 17.25 10.41 12.76 11.89 0.15 0.04 8.61 5.35 27.2

3 P G Foils Ltd. Aluminium foils 103.15 179.74 0.84 0.82 12.66 18.90 4.7 15.58 5% 9% 103.93 72.71 51.97 22.53 42.71 49.6 8.12 8.57 17.44 9.09 31.8

4 Hindustan Tin Works Ltd. Tin container 174.23 185.8 0.85 0.92 4.29 4.26 14.65 15.25 8% 8% 93.51 93.87 25.47 50.28 45.19 27.27 10.93 9.8 8.57 8.05 33.6

5 Cubex Tubings Ltd. Copper tubes & pipes 92.29 97.78 0.83 0.78 7.98 6.85 34.17 6.95 37% 7% 57.05 71.19 25.38 13.78 8.85 6.69 27.81 17.38 0.82 17.39 33.8

6 Century Extrusions Ltd. Other aluminium products 102.66 101.56 0.87 0.87 12.61 12.13 4.68 7.67 5% 8% 28.9 37.02 34.6 23.65 19.18 16.15 19.73 16.21 2.08 2.92 33.9

7 Alumeco India Extrusion Ltd. Other aluminium products 70.75 126.21 0.87 0.91 6.02 11.33 3.33 4 5% 3% 23.8 20.39 128.35 56.9 59.89 38.43 8.2 3.06 2.62 0.59 34.7

8 Man Aluminium Ltd. Other aluminium structures 38.67 40.29 0.89 0.90 3.40 3.41 4.09 3.76 11% 9% NA 68.33 28.24 38.31 NA 7.96 NA 18.18 NA 7.93 35.6

9 Light Alloy Products Ltd. Aluminium castings 48.8 51.46 0.49 0.42 1.43 0.74 16.84 17.78 35% 35% 35.44 55.53 30.51 71.89 25.23 49.63 16 14.97 6.74 1.13 37.2

10 Sudal Industries Ltd. Other aluminium products 68.76 68.26 0.86 0.81 4.17 3.73 4.76 6.47 7% 9% 52.21 52.29 100.67 71.83 51.25 51.6 15.85 12.67 0.36 0.37 38.2

11 Fibre Foils Ltd. Tin container 20.66 30.15 0.70 0.66 1.16 0.52 2.25 5.05 11% 17% NA 50.45 80.2 60.35 NA 73.26 NA 11.38 NA 1.7 39.7

12 Nissan Copper Ltd. Copper products, nec 95.37 129.63 0.84 0.88 3.68 3.73 9.77 16.92 10% 13% 58.87 82.16 62.84 74.3 20.14 26.98 33.25 33.22 16.43 10.03 43.1

13 Aluminium Powder Co. Ltd. Aluminium powders, flakes & paste 14.19 17.03 1.01 0.41 8.21 4.64 2.21 2.71 16% 16% 45.91 46.54 8.65 15.58 75.52 44.76 12.36 14.58 66.79 48.65 43.9

14 Alom Extrusions Ltd. Aluminium structures 73.68 80.5 0.90 0.92 5.82 3.86 3.11 3.94 4% 5% 36.44 28.03 74.35 50.05 20.36 17.72 10.88 12.3 9.05 9.73 44.4

15 India Foils Ltd. Aluminium foils 208.63 168.95 0.88 0.91 1.23 1.16 2.39 5.13 1% 3% 66.16 80.31 103.85 141.26 26.18 28.54 6.72 6.79 6.79 9.92 44.8

16 Bhoruka Aluminium Ltd. Other aluminium products 114.71 147.76 0.84 0.82 5.92 5.18 8.56 16.57 7% 11% 28.96 28.81 58.57 49.84 43.64 38.56 21.38 20.05 9.84 9.64 45.3

17 Shree Narmada Aluminium Inds. Ltd. Other aluminium products 13.52 15.65 0.95 1.10 8.62 12.40 -0.95 -0.99 -7% -6% 41.5 58.14 527.55 438.9 45.54 37.29 8.84 4.57 0.88 10.13 45.4

18 Baroda Extrusion Ltd. Copper products, nec 18.51 20.29 1.03 0.80 8.80 8.14 6.54 1.2 35% 6% 38.55 38.56 94.22 91.38 3.81 13.06 54.41 51.44 8.63 10.03 47.2

19 Shetron Ltd. Tin 85.99 106.46 0.72 0.73 1.05 1.09 16.44 18.87 19% 18% 74.42 52.98 53.01 77.83 137.37 122.05 35.76 31.18 2.83 2.2 47.6

20 Arcotech Ltd. Non-ferrous metals, nec 3.42 27.61 2.19 1.00 0.60 1.91 0.39 2.16 11% 8% 29.81 15.98 116.01 61.73 14.76 7.26 288.73 89.27 -0.84 4.27 48.1

21 Multimetals Ltd. Copper tubes & pipes 110.84 103.22 0.94 0.78 10.98 7.15 9.67 11.6 9% 11% 39.93 50.69 51.05 77.43 33.47 29.3 45.5 77.92 11.6 11.25 49.5

22 Sacheta Metals Ltd. Aluminium kitchen ware 31.55 29.06 0.90 0.84 7.35 4.04 0.9 1.63 3% 6% 20.82 23.85 39.35 94.54 42.92 97.46 7.3 7.84 3.68 7.14 50.9

23 Rapicut Carbides Ltd. Tungsten 15.03 17.56 0.68 0.86 7.87 11.52 1.61 2.32 11% 13% 58.24 53.59 35.39 18.77 70.94 51.4 40.51 48.37 57.22 50.56 51.5

24 Indo Alusys Inds. Ltd. Other aluminium products 98.39 145.16 0.98 0.84 1.45 0.90 6.53 8.79 7% 6% 47.72 37.7 91.64 70.53 44.42 45.27 5.11 6.34 32.73 26.45 51.6

25 Alcobex Metals Ltd. Copper tubes & pipes 151.92 108.52 0.85 0.81 7.72 5.69 2.56 -9.73 2% -9% 53.81 57.66 89.58 96.44 22.41 27.14 50.52 52.02 10.58 11.22 51.6

26 Gujarat Foils Ltd. Aluminium foils 88.35 83.47 1.08 1.06 15.06 15.59 3.86 4.16 4% 5% 45.37 51.17 69.93 91.97 23.09 27.19 11.51 15.84 14.1 34.89 52.5

27 Shalimar Wires Industries Ltd. Copper wire 65.41 67.42 0.50 0.48 0.46 0.52 25.31 27.04 39% 40% 237.28 246.51 381.13 400.24 121.99 153.08 160.17 205.62 4.18 5.14 52.8

28 Rose Zinc Ltd. Zinc 51.28 52.92 0.84 0.83 5.17 5.42 2.65 3.37 5% 6% 32.74 57.49 116.12 164.91 157.4 182.5 2.29 6.27 33.53 31.85 54.4

29 Oriental Containers Ltd. Tin container 100.24 126.03 0.72 0.72 0.80 1.07 9.79 7.8 10% 6% NA 84.67 101.07 99.63 NA 69.5 NA 16.37 NA 22.28 55.5

30 Chloride Metals Ltd. Lead 26.51 62.43 0.82 0.86 5.45 4.15 2.34 5.66 9% 9% NA 7.1 16.05 70.32 NA 73.96 NA 11.13 NA 22.1 55.8

31 Rane Diecast Ltd. Aluminium castings 8.87 16.37 1.03 0.89 0.42 0.71 -1.16 0.04 -13% 0% 80.78 84.71 119.33 152.7 50.57 56.47 13.98 8 39.81 58.88 59.1

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 124: Reinventing the Supply Chain

32 Mardia Samyoung Capillary Tubes Co. Ltd. Brass 32.16 10.68 0.86 1.21 10.18 2.04 4.03 0.59 13% 6% 42.7 120.43 5.7 121.67 6.76 43.1 9.09 53.45 0.13 13.39 59.3

1 Deccan Granites Ltd. Granite 46.93 43.62 0.73 0.74 2.61 2.55 2.27 1.96 5% 4% 90.24 112.59 213.73 258.41 2.66 3 1.37 1.93 4.64 3.67 19.6

2 John Oakey & Mohan Ltd. Abrasive powder or grain on a base 24.9 26.68 0.87 0.56 8.98 6.04 1.38 1.83 6% 7% 29.89 39.73 48.81 38.76 24.07 28.42 9.39 8.8 34.29 22.79 20.2

3 Welcast Steels Ltd. Abrasive powder or grain on a base 133.39 153.21 0.77 0.80 8.02 8.64 7.99 7.7 6% 5% 30.87 15.42 35.55 41.83 33.88 30.87 5.88 7.37 2.39 2.28 20.7

4 Divyashakti Granites Ltd. Granite 37.28 31.76 0.58 0.58 1.35 1.28 7.27 6.09 20% 19% 88.08 141.16 218.31 267.15 49.06 50.43 7.34 9.63 3.12 5.16 21.4

5 Ashok Granites Ltd. Granite 24.72 25.69 0.48 0.53 1.41 1.79 3.24 3.26 13% 13% 136.91 142.97 21.29 20.74 108.92 112.21 28.84 17.07 1.42 1.3 22.3

6 G T P Granites Ltd. Granite 51.2 47.56 0.48 0.55 1.43 1.77 8.48 6.49 17% 14% 119.03 133.13 29.68 39.21 167.46 170.26 7.13 17.04 1.25 1.79 26.2

7 Madhav Marbles & Granites Ltd. Granite 89.92 83.81 0.56 0.43 1.11 0.87 21.7 13.12 24% 16% 129.42 176.95 36.82 35.3 97.22 107.1 8.01 14.28 38.02 43.92 26.6

8 Kesar Marble & Granite Ltd. Granite 24.89 45.38 0.69 0.35 0.88 0.82 2.79 23.33 11% 51% 108.69 109.56 160.82 145.4 111.16 101.1 8.26 9.47 67.68 37.5 28.2

9 Aro Granite Inds. Ltd. Granite 104.03 101.43 0.56 0.78 0.85 1.06 18.44 16.62 18% 16% 103.18 116.53 121.07 36.11 87.08 83 5.02 12.68 32.39 59.94 29.5

10 Orient Abrasives Ltd. Abrasive powder or grain on a base 192.8 244.06 0.74 0.69 1.77 1.81 41.77 41.13 22% 17% 63.77 64.46 52.55 48.26 67.84 86.14 16.61 18.4 18.06 24.18 30.3

11 Morganite Crucible (India) Ltd. Ceramic ware for laboratory uses 18.88 19.45 0.50 0.51 0.86 0.60 3.4 3.21 18% 17% 43.77 57.52 68.21 118.22 37.8 57.53 25.55 33.05 21.62 18.59 30.5

12 Aankit Granites Ltd. Granite 14.24 10.61 0.51 0.59 4.16 3.68 0.26 0.36 2% 3% 189.93 215.23 97.11 98.48 61.49 85.59 15.44 15.38 69.8 92.22 31.7

13 Jyoti Ceramic Inds. Pvt. Ltd. Grinding wheels of synthetic abrasives 45.03 50.58 0.36 0.29 0.91 0.85 23.91 28.81 53% 57% 83.43 83.04 103.76 121.72 194.45 252.29 11.86 11.22 27.81 26.31 32.1

14 Milestone Global Ltd. Granite 11.28 10.15 0.55 0.64 1.02 1.15 1.22 1.34 11% 13% 126.89 108.78 32.65 26.44 129.29 134.47 94.35 106.01 6.43 3.69 33.1

15 Himalaya Granites Ltd. Granite 14.21 12.33 0.61 0.52 1.28 1.13 0.93 -0.99 7% -8% 85.63 98.36 50.54 39.03 102.4 100.47 83.36 79.31 33.24 17.71 33.3

16 Sri Vajra Granites Ltd. Granite 17.92 13.51 0.58 0.73 1.67 1.83 1.87 1.36 10% 10% 54.31 90.19 33.06 69.46 50.84 57.85 28.52 77.56 22.96 30.03 34.0

17 Sahyadri Industries Ltd. Corrugated asbestos sheets 159.72 203.39 0.65 0.80 1.12 2.31 23.79 31.11 15% 15% 23.05 25.53 81.72 59.53 62.29 43.95 92.52 34.99 11.17 43.74 34.1

18 Pacific Industries Ltd. Granite 52.78 72.27 0.62 0.53 1.85 2.33 6.08 13.64 12% 19% 102.27 84.33 284.55 208.91 94.81 87.91 22.5 33.6 70.28 53.57 36.0

19 Tamil Nadu Minerals Ltd. Granite 105.78 100.07 0.27 0.51 1.31 2.55 9.05 5.69 9% 6% NA 4.74 136.18 200.4 NA 271 NA 5.73 NA 50.68 36.6

20 Pokarna Ltd. Granite 153.24 149.45 0.54 0.44 0.69 0.27 23.9 23.5 16% 16% 125.27 122.19 69.21 92.63 79.49 116.43 9.45 21.22 48.55 58.06 37.3

21 Glittek Granites Ltd. Granite 17.09 11.39 0.54 0.65 0.91 0.62 2.21 1.61 13% 14% 66.87 98.75 32.56 46.93 95.11 88.47 157.98 208.06 34.97 50.71 40.0

1 Repro India Ltd. Printed books, brochures, etc. 131.55 152.93 0.58 0.59 0.97 1.13 22.37 29.16 17% 19% 125.01 115.07 60.36 44.68 68.9 54.29 0.89 0.53 2.86 2.07 53.1

2 Greenland Paper Mills Ltd. Kraft paper & paperboard 11.96 12.1 0.86 0.85 5.20 5.22 0.81 0.91 7% 8% 63.47 64.98 27.83 33.59 35.75 31.17 0.36 0.53 5.39 4.7 62.4

3 Madhyadesh Papers Ltd. Newsprint 44.93 41.1 0.68 0.74 0.97 0.95 7.98 5.68 18% 14% 116.98 102.63 54.4 44.67 104.25 80.02 0.28 0.46 1.13 0.76 71.1

4 Vishal Coaters Ltd. Paper 18.16 21.61 0.67 0.61 2.39 2.62 1.49 1.96 8% 9% 23.2 29.24 36.5 54.83 34.56 41.3 0 0.31 3.1 3.56 72.8

5 Kalptaru Papers Ltd. Newsprint 35.66 37.81 0.69 0.68 1.11 1.16 6.35 5.82 18% 15% 65.6 62.4 47.51 57.55 43.91 48.69 0.4 0.24 7.69 4 73.0

6 Sree Sakthi Paper Mills Ltd. Paper & paperboard, corrugated, crepped, 61.89 107.89 0.77 0.75 1.25 2.14 7.76 12.04 13% 11% 73.61 53.57 75.69 48.73 36.57 30.74 3.06 3.02 7.26 2.9 75.0

7 Shree Jagdambe Paper Mills Ltd. Kraft paper & paperboard 12.41 12.23 0.74 0.75 1.89 1.90 1.19 0.95 10% 8% 63.28 73.9 25.57 25.82 43.94 38.48 1.4 1.37 7.4 6.58 75.8

8 South India Paper Mills Ltd. Kraft paper & paperboard 113.63 122.61 0.70 0.71 1.60 1.74 18.58 19.74 16% 16% 53.11 51.62 44.74 43.86 49.62 47.41 0.85 0.94 6.97 6.35 80.6

9 K C L Ltd. Cartons, boxes, cases, etc. 56.2 61.68 0.76 0.73 1.57 1.64 5.09 8.4 9% 14% 49.97 46.13 24.28 26.14 9.2 10.66 3.71 4.47 4.98 5.28 82.0

10 Rama Paper Mills Ltd. Writing, printing paper 83.84 84.57 0.72 0.67 1.08 1.01 12.14 15.65 14% 19% 79.85 111.28 44.05 66.49 54.29 46.88 1.37 1.83 5.25 4.67 82.3

11 Nice Papers Ltd. Kraft paper & paperboard 14.46 14.15 0.94 0.88 3.82 3.49 0.19 0.68 1% 5% 46.46 44.12 37.11 22.24 22.33 22.43 1.32 1.42 5.34 5.93 85.0

12 Gaurav Paper Mills Ltd. Writing, printing paper 17.33 17.81 0.73 0.82 6.77 7.81 1.81 1.16 10% 7% 59.3 55.56 75.09 78.53 32.37 20.54 2.41 2.27 7 4.37 85.1

13 Infomedia 18 Ltd. Printed books, newspapers, etc. 145.6 146.08 0.44 0.49 2.27 2.51 18.03 4.97 12% 3% 84.93 98.62 98.01 64.6 125.2 70.92 2.33 1.48 3.02 2.08 86.4

14 Perfectpac Ltd. Cartons, boxes, cases, etc. 64.52 71.33 0.84 0.83 4.13 4.51 3.99 3.83 6% 5% 50.87 45.96 50.14 44.37 20.18 21.77 5.98 5.15 4.59 4.24 91.5

15 Rainbow Papers Ltd. Kraft paper & paperboard 141.91 166.59 0.61 0.58 0.91 1.01 28.09 36.77 20% 22% 35.61 40.92 33.68 120.12 37.85 41.89 1.79 1.65 2.38 1.63 91.7

16 Bindlas Duplux Ltd. Kraft paper & paperboard 40.36 40.32 0.57 0.48 0.80 0.67 5.35 6.55 13% 16% 73.05 87.98 68.14 63.41 87.84 58.74 1.14 1.21 7.21 6.67 92.0

17 Shreyans Industries Ltd. Paper 198.31 218.91 0.78 0.75 2.04 2.18 24.87 30.15 13% 14% 51.45 47.82 66.9 63.21 41.11 52.41 2.65 3.29 1.21 1.78 92.0

18 Dev Priya Inds. Ltd. Kraft paper & paperboard 37.95 50.02 0.86 0.88 4.52 6.11 3.05 4.31 8% 9% 41.25 44.21 19.54 33.21 73.89 64.26 0.43 0.32 5.31 5.5 92.9

19 Nikita Papers Pvt. Ltd. Kraft paper & paperboard 21.53 24.62 0.55 0.54 1.21 1.37 1.49 1.67 7% 7% NA 32.48 44.63 46.96 NA 58.47 NA 0.85 NA 4.08 93.6

20 N R Agarwal Inds. Ltd. Kraft paper & paperboard 267.33 287.19 0.77 0.78 1.78 1.91 30.9 30.01 12% 10% 42.71 44.66 74.27 74.4 42.92 38.97 1.73 2.33 4.37 3.39 94.5

21 Magnum Ventures Ltd. Paper 91.22 85.17 0.44 0.48 0.35 0.35 28.11 27.53 31% 32% 106.04 122.74 36.01 48.74 37.14 45.8 0.9 2 11.63 17.27 95.4

22 Shree Ajit Pulp & Paper Ltd. Kraft paper & paperboard 50 56.63 0.82 0.81 3.55 3.99 4.5 5.8 9% 10% 36.09 26.4 51.09 52.94 46.8 65.63 0.04 0.08 6.04 4.57 96.1

PAPer AnD wooD ProDucts

non metAllic minerAl ProDucts

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers122

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 125: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 123

32 Mardia Samyoung Capillary Tubes Co. Ltd. Brass 32.16 10.68 0.86 1.21 10.18 2.04 4.03 0.59 13% 6% 42.7 120.43 5.7 121.67 6.76 43.1 9.09 53.45 0.13 13.39 59.3

1 Deccan Granites Ltd. Granite 46.93 43.62 0.73 0.74 2.61 2.55 2.27 1.96 5% 4% 90.24 112.59 213.73 258.41 2.66 3 1.37 1.93 4.64 3.67 19.6

2 John Oakey & Mohan Ltd. Abrasive powder or grain on a base 24.9 26.68 0.87 0.56 8.98 6.04 1.38 1.83 6% 7% 29.89 39.73 48.81 38.76 24.07 28.42 9.39 8.8 34.29 22.79 20.2

3 Welcast Steels Ltd. Abrasive powder or grain on a base 133.39 153.21 0.77 0.80 8.02 8.64 7.99 7.7 6% 5% 30.87 15.42 35.55 41.83 33.88 30.87 5.88 7.37 2.39 2.28 20.7

4 Divyashakti Granites Ltd. Granite 37.28 31.76 0.58 0.58 1.35 1.28 7.27 6.09 20% 19% 88.08 141.16 218.31 267.15 49.06 50.43 7.34 9.63 3.12 5.16 21.4

5 Ashok Granites Ltd. Granite 24.72 25.69 0.48 0.53 1.41 1.79 3.24 3.26 13% 13% 136.91 142.97 21.29 20.74 108.92 112.21 28.84 17.07 1.42 1.3 22.3

6 G T P Granites Ltd. Granite 51.2 47.56 0.48 0.55 1.43 1.77 8.48 6.49 17% 14% 119.03 133.13 29.68 39.21 167.46 170.26 7.13 17.04 1.25 1.79 26.2

7 Madhav Marbles & Granites Ltd. Granite 89.92 83.81 0.56 0.43 1.11 0.87 21.7 13.12 24% 16% 129.42 176.95 36.82 35.3 97.22 107.1 8.01 14.28 38.02 43.92 26.6

8 Kesar Marble & Granite Ltd. Granite 24.89 45.38 0.69 0.35 0.88 0.82 2.79 23.33 11% 51% 108.69 109.56 160.82 145.4 111.16 101.1 8.26 9.47 67.68 37.5 28.2

9 Aro Granite Inds. Ltd. Granite 104.03 101.43 0.56 0.78 0.85 1.06 18.44 16.62 18% 16% 103.18 116.53 121.07 36.11 87.08 83 5.02 12.68 32.39 59.94 29.5

10 Orient Abrasives Ltd. Abrasive powder or grain on a base 192.8 244.06 0.74 0.69 1.77 1.81 41.77 41.13 22% 17% 63.77 64.46 52.55 48.26 67.84 86.14 16.61 18.4 18.06 24.18 30.3

11 Morganite Crucible (India) Ltd. Ceramic ware for laboratory uses 18.88 19.45 0.50 0.51 0.86 0.60 3.4 3.21 18% 17% 43.77 57.52 68.21 118.22 37.8 57.53 25.55 33.05 21.62 18.59 30.5

12 Aankit Granites Ltd. Granite 14.24 10.61 0.51 0.59 4.16 3.68 0.26 0.36 2% 3% 189.93 215.23 97.11 98.48 61.49 85.59 15.44 15.38 69.8 92.22 31.7

13 Jyoti Ceramic Inds. Pvt. Ltd. Grinding wheels of synthetic abrasives 45.03 50.58 0.36 0.29 0.91 0.85 23.91 28.81 53% 57% 83.43 83.04 103.76 121.72 194.45 252.29 11.86 11.22 27.81 26.31 32.1

14 Milestone Global Ltd. Granite 11.28 10.15 0.55 0.64 1.02 1.15 1.22 1.34 11% 13% 126.89 108.78 32.65 26.44 129.29 134.47 94.35 106.01 6.43 3.69 33.1

15 Himalaya Granites Ltd. Granite 14.21 12.33 0.61 0.52 1.28 1.13 0.93 -0.99 7% -8% 85.63 98.36 50.54 39.03 102.4 100.47 83.36 79.31 33.24 17.71 33.3

16 Sri Vajra Granites Ltd. Granite 17.92 13.51 0.58 0.73 1.67 1.83 1.87 1.36 10% 10% 54.31 90.19 33.06 69.46 50.84 57.85 28.52 77.56 22.96 30.03 34.0

17 Sahyadri Industries Ltd. Corrugated asbestos sheets 159.72 203.39 0.65 0.80 1.12 2.31 23.79 31.11 15% 15% 23.05 25.53 81.72 59.53 62.29 43.95 92.52 34.99 11.17 43.74 34.1

18 Pacific Industries Ltd. Granite 52.78 72.27 0.62 0.53 1.85 2.33 6.08 13.64 12% 19% 102.27 84.33 284.55 208.91 94.81 87.91 22.5 33.6 70.28 53.57 36.0

19 Tamil Nadu Minerals Ltd. Granite 105.78 100.07 0.27 0.51 1.31 2.55 9.05 5.69 9% 6% NA 4.74 136.18 200.4 NA 271 NA 5.73 NA 50.68 36.6

20 Pokarna Ltd. Granite 153.24 149.45 0.54 0.44 0.69 0.27 23.9 23.5 16% 16% 125.27 122.19 69.21 92.63 79.49 116.43 9.45 21.22 48.55 58.06 37.3

21 Glittek Granites Ltd. Granite 17.09 11.39 0.54 0.65 0.91 0.62 2.21 1.61 13% 14% 66.87 98.75 32.56 46.93 95.11 88.47 157.98 208.06 34.97 50.71 40.0

1 Repro India Ltd. Printed books, brochures, etc. 131.55 152.93 0.58 0.59 0.97 1.13 22.37 29.16 17% 19% 125.01 115.07 60.36 44.68 68.9 54.29 0.89 0.53 2.86 2.07 53.1

2 Greenland Paper Mills Ltd. Kraft paper & paperboard 11.96 12.1 0.86 0.85 5.20 5.22 0.81 0.91 7% 8% 63.47 64.98 27.83 33.59 35.75 31.17 0.36 0.53 5.39 4.7 62.4

3 Madhyadesh Papers Ltd. Newsprint 44.93 41.1 0.68 0.74 0.97 0.95 7.98 5.68 18% 14% 116.98 102.63 54.4 44.67 104.25 80.02 0.28 0.46 1.13 0.76 71.1

4 Vishal Coaters Ltd. Paper 18.16 21.61 0.67 0.61 2.39 2.62 1.49 1.96 8% 9% 23.2 29.24 36.5 54.83 34.56 41.3 0 0.31 3.1 3.56 72.8

5 Kalptaru Papers Ltd. Newsprint 35.66 37.81 0.69 0.68 1.11 1.16 6.35 5.82 18% 15% 65.6 62.4 47.51 57.55 43.91 48.69 0.4 0.24 7.69 4 73.0

6 Sree Sakthi Paper Mills Ltd. Paper & paperboard, corrugated, crepped, 61.89 107.89 0.77 0.75 1.25 2.14 7.76 12.04 13% 11% 73.61 53.57 75.69 48.73 36.57 30.74 3.06 3.02 7.26 2.9 75.0

7 Shree Jagdambe Paper Mills Ltd. Kraft paper & paperboard 12.41 12.23 0.74 0.75 1.89 1.90 1.19 0.95 10% 8% 63.28 73.9 25.57 25.82 43.94 38.48 1.4 1.37 7.4 6.58 75.8

8 South India Paper Mills Ltd. Kraft paper & paperboard 113.63 122.61 0.70 0.71 1.60 1.74 18.58 19.74 16% 16% 53.11 51.62 44.74 43.86 49.62 47.41 0.85 0.94 6.97 6.35 80.6

9 K C L Ltd. Cartons, boxes, cases, etc. 56.2 61.68 0.76 0.73 1.57 1.64 5.09 8.4 9% 14% 49.97 46.13 24.28 26.14 9.2 10.66 3.71 4.47 4.98 5.28 82.0

10 Rama Paper Mills Ltd. Writing, printing paper 83.84 84.57 0.72 0.67 1.08 1.01 12.14 15.65 14% 19% 79.85 111.28 44.05 66.49 54.29 46.88 1.37 1.83 5.25 4.67 82.3

11 Nice Papers Ltd. Kraft paper & paperboard 14.46 14.15 0.94 0.88 3.82 3.49 0.19 0.68 1% 5% 46.46 44.12 37.11 22.24 22.33 22.43 1.32 1.42 5.34 5.93 85.0

12 Gaurav Paper Mills Ltd. Writing, printing paper 17.33 17.81 0.73 0.82 6.77 7.81 1.81 1.16 10% 7% 59.3 55.56 75.09 78.53 32.37 20.54 2.41 2.27 7 4.37 85.1

13 Infomedia 18 Ltd. Printed books, newspapers, etc. 145.6 146.08 0.44 0.49 2.27 2.51 18.03 4.97 12% 3% 84.93 98.62 98.01 64.6 125.2 70.92 2.33 1.48 3.02 2.08 86.4

14 Perfectpac Ltd. Cartons, boxes, cases, etc. 64.52 71.33 0.84 0.83 4.13 4.51 3.99 3.83 6% 5% 50.87 45.96 50.14 44.37 20.18 21.77 5.98 5.15 4.59 4.24 91.5

15 Rainbow Papers Ltd. Kraft paper & paperboard 141.91 166.59 0.61 0.58 0.91 1.01 28.09 36.77 20% 22% 35.61 40.92 33.68 120.12 37.85 41.89 1.79 1.65 2.38 1.63 91.7

16 Bindlas Duplux Ltd. Kraft paper & paperboard 40.36 40.32 0.57 0.48 0.80 0.67 5.35 6.55 13% 16% 73.05 87.98 68.14 63.41 87.84 58.74 1.14 1.21 7.21 6.67 92.0

17 Shreyans Industries Ltd. Paper 198.31 218.91 0.78 0.75 2.04 2.18 24.87 30.15 13% 14% 51.45 47.82 66.9 63.21 41.11 52.41 2.65 3.29 1.21 1.78 92.0

18 Dev Priya Inds. Ltd. Kraft paper & paperboard 37.95 50.02 0.86 0.88 4.52 6.11 3.05 4.31 8% 9% 41.25 44.21 19.54 33.21 73.89 64.26 0.43 0.32 5.31 5.5 92.9

19 Nikita Papers Pvt. Ltd. Kraft paper & paperboard 21.53 24.62 0.55 0.54 1.21 1.37 1.49 1.67 7% 7% NA 32.48 44.63 46.96 NA 58.47 NA 0.85 NA 4.08 93.6

20 N R Agarwal Inds. Ltd. Kraft paper & paperboard 267.33 287.19 0.77 0.78 1.78 1.91 30.9 30.01 12% 10% 42.71 44.66 74.27 74.4 42.92 38.97 1.73 2.33 4.37 3.39 94.5

21 Magnum Ventures Ltd. Paper 91.22 85.17 0.44 0.48 0.35 0.35 28.11 27.53 31% 32% 106.04 122.74 36.01 48.74 37.14 45.8 0.9 2 11.63 17.27 95.4

22 Shree Ajit Pulp & Paper Ltd. Kraft paper & paperboard 50 56.63 0.82 0.81 3.55 3.99 4.5 5.8 9% 10% 36.09 26.4 51.09 52.94 46.8 65.63 0.04 0.08 6.04 4.57 96.1

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 126: Reinventing the Supply Chain

23 Parijat Paper Mills Ltd. Kraft paper & paperboard 15.5 16.18 0.94 0.89 3.17 3.15 0.46 0.46 3% 3% NA 80.79 156.49 112.68 NA 32.07 NA 0.36 NA 8.72 98.1

24 Vamshadhara Paper Mills Ltd. Kraft paper & paperboard 27.87 26.99 0.78 0.80 1.91 1.89 2.31 1.46 8% 5% 69.52 74.23 36.68 71.83 49.36 47.09 0.78 0.78 6.31 8.02 99.0

25 Remco Paper & Board Inds. Ltd. Kraft paper & paperboard 29 32.5 0.74 0.84 2.17 2.79 1.94 1.45 7% 4% 61.03 68.55 74.91 81.38 30.23 38.55 1.96 4.36 8.75 3.43 99.6

26 Gayatrishakti Paper & Boards Ltd. Composite paper & paperboard (packaging 109.06 125.2 0.80 0.76 1.33 1.47 11.55 14.31 11% 11% 46.96 44.02 79.39 51.96 93.37 90.47 0.38 0.93 1.93 3.33 100.4

27 Modinagar Paper Mills Ltd. Kraft paper & paperboard 23.26 26.44 0.88 0.83 3.61 3.87 1.68 1.56 7% 6% 47.71 53.78 89.55 90.63 23.49 31.99 0.9 0.97 9.58 8.7 101.3

28 Shree Rajeshwaranand Paper Mills Ltd. Writing, printing paper 41.35 38.11 0.85 0.90 1.81 1.76 2.26 5.11 5% 13% NA 80.26 29.01 32.01 NA 33.74 NA 2.4 NA 23.35 106.4

29 Sangal Papers Ltd. Writing, printing paper 42.41 35.99 0.83 0.77 2.08 1.64 2.62 3.97 6% 11% 56.87 75.96 39.01 85.22 40.46 56.02 1.06 1.36 3.54 7.62 106.4

30 Novopan Industries Ltd. Particle boards 77.91 80.61 0.59 0.63 1.17 1.29 13.28 16.07 17% 20% 51.89 64.74 73.09 94.94 82.86 161.96 0.9 1.16 2.36 1.73 107.2

31 Satia Paper Mills Ltd. Writing, printing paper 170.61 176.29 0.72 0.74 1.39 1.47 21.71 22.73 13% 13% 31.55 39.3 115.38 93.45 44.57 45.06 2.91 3.68 3.16 2.76 107.3

32 Chandpur Enterprises Ltd. Newsprint 21.52 37.17 0.85 0.76 2.55 3.97 1.11 1.7 5% 5% 64.73 59.93 75.96 45.43 90.76 44.81 1.98 1.37 27.48 22.19 108.8

33 Pudumjee Industries Ltd. Paper 80.71 101.36 0.77 0.82 5.60 7.44 4.64 7.67 6% 8% 52.32 51.45 31.97 42.24 63.83 61.12 1.78 0.96 21.58 16.82 110.1

34 Ruchira Papers Ltd. Paper 75.15 83.82 0.78 0.75 0.86 0.92 9.23 15.15 12% 18% 45.05 50.27 37.31 55.8 41.58 51.75 5.64 6.93 3.86 4.63 111.7

35 Karthikeya Paper & Boards Ltd. Paper 19.46 18.93 0.65 0.75 3.85 4.30 3.12 0.87 16% 5% 5.82 7.56 83.91 100.49 15.19 31.91 1.45 2.43 2.83 5.3 114.1

36 Vapi Paper Mills Ltd. Paper 14.88 14.15 0.79 0.89 1.44 1.55 0.34 -1.72 2% -12% 73.4 75.81 38.27 90.05 21.73 21.69 9.75 9.21 6.85 3.89 114.5

37 Sundaram Multi Pap Ltd. Registers, account books, note books, etc. 82.65 111.49 0.83 0.79 4.98 6.43 8.35 14.13 10% 13% 46.1 60.71 19.62 43.13 52.79 48.53 0 6.07 17.13 20.55 114.7

38 Emami Paper Mills Ltd. Paper 177.58 257.76 0.62 0.71 0.35 0.58 46.85 66.65 26% 26% 29.75 37.99 58.8 27.41 69.13 70.38 11.31 9.57 1.78 3.34 115.4

39 Sainsons Paper Inds. Ltd. Writing, printing paper 35.03 38.97 0.83 0.70 1.24 1.16 4.16 8.54 12% 22% 52.72 51.51 30.67 20.07 127.21 127.48 6.29 7.11 2.68 3.81 116.7

40 U V Boards Ltd. Plywood 7.2 13.76 0.77 0.54 0.70 0.93 0.46 2.48 6% 18% 47.58 18.31 117.07 28.82 66.83 45.22 19.27 11.44 24.42 7.56 117.5

41 Ajanta Paper & General Products Ltd. Paper 44.52 49.66 0.78 0.83 1.14 1.35 3.66 2.52 8% 5% 35.6 39.86 94.53 81.59 32.53 32.84 1.59 1.02 9.34 9.02 117.7

42 Shree Karthik Papers Ltd. Paper 13.77 19.15 0.60 0.72 1.67 2.78 7.21 3.85 52% 20% 74.83 101.64 120.45 61.76 30.2 63.79 32.03 28.73 8.5 9.03 120.1

43 T C P L Packaging Ltd. Other printed matter 101.33 120.05 0.65 0.63 0.94 1.08 14.73 19.45 15% 16% 39.85 45.61 66.63 77.19 46.48 57.58 8.97 8.45 4.31 4.9 121.8

44 Shree Krishna Paper Mills & Inds. Ltd. Paper 89.23 99.08 0.84 0.85 1.64 1.84 2.55 0.24 3% 0% 11.1 13.39 46.23 44.82 37.31 39.94 1 2.37 5.66 7.72 123.8

45 Nuchem Ltd. Boards of woods 107.58 134.43 0.57 0.57 1.81 2.27 7.32 4.09 7% 3% 67.83 65.66 126.65 139.67 28.58 38.81 157.56 130.58 6.08 4.18 124.4

46 Sirpur Paper Mills Ltd. Paper 245.01 249.17 0.61 0.63 0.31 0.33 42.45 74.65 17% 30% 28.04 27.66 111.92 116.83 73.39 62.65 6.75 6.66 1.08 1.25 124.5

47 Sun Paper Mill Ltd. Paper 71.74 80.47 0.61 0.63 1.25 1.45 10.08 5.3 14% 7% 13.54 16.27 35.3 51.04 71.05 71.2 1.1 0.99 11.95 8.51 124.5

48 Anand Tissues Ltd. Paper products 16.98 16.9 0.34 0.29 0.42 0.36 4.17 4.37 25% 26% 88.09 113.9 67.17 199.84 223.81 287.93 1.48 1.74 7.08 6.49 125.4

49 Mohit Paper Mills Ltd. Paper 40.77 47.8 0.54 0.52 1.14 1.29 3.35 4.7 8% 10% 24.75 22.2 44.6 57.48 96.58 109.95 5.03 4.47 2.86 3.13 126.6

50 Feroke Boards Ltd. Plywood 17.06 18.55 0.84 0.72 4.23 3.97 1.19 1.28 7% 7% 37.22 40.15 29.09 38.5 29.02 38.7 67.28 66.61 10.03 10.81 127.4

51 Amaravathi Sri Venkatesa Paper Mills Ltd. Writing, printing paper 83.89 86.25 0.70 0.78 4.18 4.78 7.01 5.05 8% 6% 31.84 32.79 71.43 88.64 36.73 36.85 2.54 3.79 8.23 11.83 128.7

52 Cochin Kagaz Ltd. Kraft paper & paperboard 27.1 28.22 0.77 0.79 1.17 1.24 2.87 3.26 11% 12% 89.49 98.29 89.35 88.82 85.31 122.75 2.51 2.63 9.11 5.68 130.8

53 Polymer Papers Ltd. Other paper, paperboard products 17.6 17.33 0.84 0.86 2.67 2.71 0.63 -0.24 4% -1% 74.03 76.81 81.47 79.23 29.3 30.65 14.41 16.36 13.23 13.89 131.0

54 Agio Paper & Inds. Ltd. Paper 34.41 33.82 0.44 0.49 1.55 1.66 5.68 7.03 17% 21% 19.69 25.22 35.36 42.41 55.3 57.76 4.23 6.23 20.68 23.92 131.1

55 B & A Multiwall Packaging Ltd. Paper products 15.52 16.82 0.85 0.85 5.39 5.86 1.48 2.17 10% 13% 89.09 76.63 68.64 44.27 72.48 97.78 9.16 9.25 10.25 13.9 134.0

56 Malu Paper Mills Ltd. Newsprint 56.04 57.35 0.77 0.85 0.69 0.77 7.82 7.57 14% 13% 44.1 48.42 24.48 66.72 77.53 98.09 0.91 1.43 1.16 7.54 135.0

57 Ellora Paper Mills Ltd. Writing, printing paper 36.06 37.4 0.81 0.83 2.45 2.60 3.76 2.77 10% 7% 61.01 57.77 30.09 49.16 60.38 64.92 6.43 9.23 5.93 8.76 135.0

58 Metal Box India Ltd. Paper products 31.62 24.15 0.23 0.41 0.85 1.14 28.15 -0.74 89% -3% 0.92 3.03 1260.65 444.89 583.52 214.17 3.79 0.72 1.25 0.93 135.5

59 M P S Ltd. Printed books, brochures, etc. 153.42 155.43 0.37 0.41 1.62 1.82 40.34 27.15 26% 17% 118.33 105.65 77.97 78.07 55.96 55.94 72.19 77.96 41.54 41.45 137.4

60 Sudhir Papers Ltd. Paper 32.33 31.63 0.88 0.95 10.65 11.24 1.26 0.84 4% 3% 25.24 29.46 28.92 31.19 44.69 47.37 7.18 7.04 10.99 14.48 138.0

61 Vishal Papertech (India) Ltd. Other paper, paperboard products 16.85 14.03 0.77 0.80 3.24 2.80 1.68 1.63 10% 12% NA 101.9 153.71 133.59 NA 59.01 NA 28.36 NA 9.49 139.6

62 Surya Chandra Paper Mills Ltd. Writing, printing paper 26.41 26.75 0.92 0.86 1.34 1.28 0.76 0.13 3% 0% 57.81 62.14 75.18 90.6 59.11 58.18 2.34 3.99 8.45 7.77 142.5

63 Speciality Coatings & Laminations Ltd. Paper & paperboard, coated with china clay/ 32.45 12.98 0.89 0.83 2.73 1.03 -1.17 -2.17 -4% -17% 31.32 40.57 30.44 69.74 29.25 36.25 1.49 1.62 29.99 28.52 142.5

64 Bharat Box Factory Ltd. Cartons, boxes, cases of corrugated paper 227.08 269.95 0.85 0.87 2.27 2.75 25.09 28.94 11% 11% 53.4 57.83 108.72 89.18 41.06 40.14 19.15 17.9 11.34 16.31 142.6

65 Khatema Fibres Ltd. Kraft paper & paperboard 108.37 109.43 0.67 0.81 1.23 1.50 21.23 13.67 20% 12% 52.88 60.27 22.14 29.01 190.73 160.18 8.21 9.5 7.61 9.37 146.0

66 yash Papers Ltd. Kraft paper & paperboard 30.91 52.57 0.49 0.64 0.16 0.37 3.9 7.94 13% 15% 28.04 23 89.37 88.61 126.26 114.21 0.82 1.12 8.87 11.73 148.0

67 Maruti Papers Ltd. Kraft paper & paperboard 12.34 15.42 0.53 0.62 1.50 2.20 1.15 1.26 9% 8% 71.51 54.97 145.19 114.6 174.57 115.01 0.83 1.2 18.43 33.64 149.1

68 Jolly Board Ltd. Particle boards 40.74 58.68 0.52 0.44 0.51 0.64 6.97 15.46 17% 26% 19.75 15.07 357.62 837.08 169.06 117.91 5.53 1.36 7.04 10.5 150.0

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers124

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 127: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 125

23 Parijat Paper Mills Ltd. Kraft paper & paperboard 15.5 16.18 0.94 0.89 3.17 3.15 0.46 0.46 3% 3% NA 80.79 156.49 112.68 NA 32.07 NA 0.36 NA 8.72 98.1

24 Vamshadhara Paper Mills Ltd. Kraft paper & paperboard 27.87 26.99 0.78 0.80 1.91 1.89 2.31 1.46 8% 5% 69.52 74.23 36.68 71.83 49.36 47.09 0.78 0.78 6.31 8.02 99.0

25 Remco Paper & Board Inds. Ltd. Kraft paper & paperboard 29 32.5 0.74 0.84 2.17 2.79 1.94 1.45 7% 4% 61.03 68.55 74.91 81.38 30.23 38.55 1.96 4.36 8.75 3.43 99.6

26 Gayatrishakti Paper & Boards Ltd. Composite paper & paperboard (packaging 109.06 125.2 0.80 0.76 1.33 1.47 11.55 14.31 11% 11% 46.96 44.02 79.39 51.96 93.37 90.47 0.38 0.93 1.93 3.33 100.4

27 Modinagar Paper Mills Ltd. Kraft paper & paperboard 23.26 26.44 0.88 0.83 3.61 3.87 1.68 1.56 7% 6% 47.71 53.78 89.55 90.63 23.49 31.99 0.9 0.97 9.58 8.7 101.3

28 Shree Rajeshwaranand Paper Mills Ltd. Writing, printing paper 41.35 38.11 0.85 0.90 1.81 1.76 2.26 5.11 5% 13% NA 80.26 29.01 32.01 NA 33.74 NA 2.4 NA 23.35 106.4

29 Sangal Papers Ltd. Writing, printing paper 42.41 35.99 0.83 0.77 2.08 1.64 2.62 3.97 6% 11% 56.87 75.96 39.01 85.22 40.46 56.02 1.06 1.36 3.54 7.62 106.4

30 Novopan Industries Ltd. Particle boards 77.91 80.61 0.59 0.63 1.17 1.29 13.28 16.07 17% 20% 51.89 64.74 73.09 94.94 82.86 161.96 0.9 1.16 2.36 1.73 107.2

31 Satia Paper Mills Ltd. Writing, printing paper 170.61 176.29 0.72 0.74 1.39 1.47 21.71 22.73 13% 13% 31.55 39.3 115.38 93.45 44.57 45.06 2.91 3.68 3.16 2.76 107.3

32 Chandpur Enterprises Ltd. Newsprint 21.52 37.17 0.85 0.76 2.55 3.97 1.11 1.7 5% 5% 64.73 59.93 75.96 45.43 90.76 44.81 1.98 1.37 27.48 22.19 108.8

33 Pudumjee Industries Ltd. Paper 80.71 101.36 0.77 0.82 5.60 7.44 4.64 7.67 6% 8% 52.32 51.45 31.97 42.24 63.83 61.12 1.78 0.96 21.58 16.82 110.1

34 Ruchira Papers Ltd. Paper 75.15 83.82 0.78 0.75 0.86 0.92 9.23 15.15 12% 18% 45.05 50.27 37.31 55.8 41.58 51.75 5.64 6.93 3.86 4.63 111.7

35 Karthikeya Paper & Boards Ltd. Paper 19.46 18.93 0.65 0.75 3.85 4.30 3.12 0.87 16% 5% 5.82 7.56 83.91 100.49 15.19 31.91 1.45 2.43 2.83 5.3 114.1

36 Vapi Paper Mills Ltd. Paper 14.88 14.15 0.79 0.89 1.44 1.55 0.34 -1.72 2% -12% 73.4 75.81 38.27 90.05 21.73 21.69 9.75 9.21 6.85 3.89 114.5

37 Sundaram Multi Pap Ltd. Registers, account books, note books, etc. 82.65 111.49 0.83 0.79 4.98 6.43 8.35 14.13 10% 13% 46.1 60.71 19.62 43.13 52.79 48.53 0 6.07 17.13 20.55 114.7

38 Emami Paper Mills Ltd. Paper 177.58 257.76 0.62 0.71 0.35 0.58 46.85 66.65 26% 26% 29.75 37.99 58.8 27.41 69.13 70.38 11.31 9.57 1.78 3.34 115.4

39 Sainsons Paper Inds. Ltd. Writing, printing paper 35.03 38.97 0.83 0.70 1.24 1.16 4.16 8.54 12% 22% 52.72 51.51 30.67 20.07 127.21 127.48 6.29 7.11 2.68 3.81 116.7

40 U V Boards Ltd. Plywood 7.2 13.76 0.77 0.54 0.70 0.93 0.46 2.48 6% 18% 47.58 18.31 117.07 28.82 66.83 45.22 19.27 11.44 24.42 7.56 117.5

41 Ajanta Paper & General Products Ltd. Paper 44.52 49.66 0.78 0.83 1.14 1.35 3.66 2.52 8% 5% 35.6 39.86 94.53 81.59 32.53 32.84 1.59 1.02 9.34 9.02 117.7

42 Shree Karthik Papers Ltd. Paper 13.77 19.15 0.60 0.72 1.67 2.78 7.21 3.85 52% 20% 74.83 101.64 120.45 61.76 30.2 63.79 32.03 28.73 8.5 9.03 120.1

43 T C P L Packaging Ltd. Other printed matter 101.33 120.05 0.65 0.63 0.94 1.08 14.73 19.45 15% 16% 39.85 45.61 66.63 77.19 46.48 57.58 8.97 8.45 4.31 4.9 121.8

44 Shree Krishna Paper Mills & Inds. Ltd. Paper 89.23 99.08 0.84 0.85 1.64 1.84 2.55 0.24 3% 0% 11.1 13.39 46.23 44.82 37.31 39.94 1 2.37 5.66 7.72 123.8

45 Nuchem Ltd. Boards of woods 107.58 134.43 0.57 0.57 1.81 2.27 7.32 4.09 7% 3% 67.83 65.66 126.65 139.67 28.58 38.81 157.56 130.58 6.08 4.18 124.4

46 Sirpur Paper Mills Ltd. Paper 245.01 249.17 0.61 0.63 0.31 0.33 42.45 74.65 17% 30% 28.04 27.66 111.92 116.83 73.39 62.65 6.75 6.66 1.08 1.25 124.5

47 Sun Paper Mill Ltd. Paper 71.74 80.47 0.61 0.63 1.25 1.45 10.08 5.3 14% 7% 13.54 16.27 35.3 51.04 71.05 71.2 1.1 0.99 11.95 8.51 124.5

48 Anand Tissues Ltd. Paper products 16.98 16.9 0.34 0.29 0.42 0.36 4.17 4.37 25% 26% 88.09 113.9 67.17 199.84 223.81 287.93 1.48 1.74 7.08 6.49 125.4

49 Mohit Paper Mills Ltd. Paper 40.77 47.8 0.54 0.52 1.14 1.29 3.35 4.7 8% 10% 24.75 22.2 44.6 57.48 96.58 109.95 5.03 4.47 2.86 3.13 126.6

50 Feroke Boards Ltd. Plywood 17.06 18.55 0.84 0.72 4.23 3.97 1.19 1.28 7% 7% 37.22 40.15 29.09 38.5 29.02 38.7 67.28 66.61 10.03 10.81 127.4

51 Amaravathi Sri Venkatesa Paper Mills Ltd. Writing, printing paper 83.89 86.25 0.70 0.78 4.18 4.78 7.01 5.05 8% 6% 31.84 32.79 71.43 88.64 36.73 36.85 2.54 3.79 8.23 11.83 128.7

52 Cochin Kagaz Ltd. Kraft paper & paperboard 27.1 28.22 0.77 0.79 1.17 1.24 2.87 3.26 11% 12% 89.49 98.29 89.35 88.82 85.31 122.75 2.51 2.63 9.11 5.68 130.8

53 Polymer Papers Ltd. Other paper, paperboard products 17.6 17.33 0.84 0.86 2.67 2.71 0.63 -0.24 4% -1% 74.03 76.81 81.47 79.23 29.3 30.65 14.41 16.36 13.23 13.89 131.0

54 Agio Paper & Inds. Ltd. Paper 34.41 33.82 0.44 0.49 1.55 1.66 5.68 7.03 17% 21% 19.69 25.22 35.36 42.41 55.3 57.76 4.23 6.23 20.68 23.92 131.1

55 B & A Multiwall Packaging Ltd. Paper products 15.52 16.82 0.85 0.85 5.39 5.86 1.48 2.17 10% 13% 89.09 76.63 68.64 44.27 72.48 97.78 9.16 9.25 10.25 13.9 134.0

56 Malu Paper Mills Ltd. Newsprint 56.04 57.35 0.77 0.85 0.69 0.77 7.82 7.57 14% 13% 44.1 48.42 24.48 66.72 77.53 98.09 0.91 1.43 1.16 7.54 135.0

57 Ellora Paper Mills Ltd. Writing, printing paper 36.06 37.4 0.81 0.83 2.45 2.60 3.76 2.77 10% 7% 61.01 57.77 30.09 49.16 60.38 64.92 6.43 9.23 5.93 8.76 135.0

58 Metal Box India Ltd. Paper products 31.62 24.15 0.23 0.41 0.85 1.14 28.15 -0.74 89% -3% 0.92 3.03 1260.65 444.89 583.52 214.17 3.79 0.72 1.25 0.93 135.5

59 M P S Ltd. Printed books, brochures, etc. 153.42 155.43 0.37 0.41 1.62 1.82 40.34 27.15 26% 17% 118.33 105.65 77.97 78.07 55.96 55.94 72.19 77.96 41.54 41.45 137.4

60 Sudhir Papers Ltd. Paper 32.33 31.63 0.88 0.95 10.65 11.24 1.26 0.84 4% 3% 25.24 29.46 28.92 31.19 44.69 47.37 7.18 7.04 10.99 14.48 138.0

61 Vishal Papertech (India) Ltd. Other paper, paperboard products 16.85 14.03 0.77 0.80 3.24 2.80 1.68 1.63 10% 12% NA 101.9 153.71 133.59 NA 59.01 NA 28.36 NA 9.49 139.6

62 Surya Chandra Paper Mills Ltd. Writing, printing paper 26.41 26.75 0.92 0.86 1.34 1.28 0.76 0.13 3% 0% 57.81 62.14 75.18 90.6 59.11 58.18 2.34 3.99 8.45 7.77 142.5

63 Speciality Coatings & Laminations Ltd. Paper & paperboard, coated with china clay/ 32.45 12.98 0.89 0.83 2.73 1.03 -1.17 -2.17 -4% -17% 31.32 40.57 30.44 69.74 29.25 36.25 1.49 1.62 29.99 28.52 142.5

64 Bharat Box Factory Ltd. Cartons, boxes, cases of corrugated paper 227.08 269.95 0.85 0.87 2.27 2.75 25.09 28.94 11% 11% 53.4 57.83 108.72 89.18 41.06 40.14 19.15 17.9 11.34 16.31 142.6

65 Khatema Fibres Ltd. Kraft paper & paperboard 108.37 109.43 0.67 0.81 1.23 1.50 21.23 13.67 20% 12% 52.88 60.27 22.14 29.01 190.73 160.18 8.21 9.5 7.61 9.37 146.0

66 yash Papers Ltd. Kraft paper & paperboard 30.91 52.57 0.49 0.64 0.16 0.37 3.9 7.94 13% 15% 28.04 23 89.37 88.61 126.26 114.21 0.82 1.12 8.87 11.73 148.0

67 Maruti Papers Ltd. Kraft paper & paperboard 12.34 15.42 0.53 0.62 1.50 2.20 1.15 1.26 9% 8% 71.51 54.97 145.19 114.6 174.57 115.01 0.83 1.2 18.43 33.64 149.1

68 Jolly Board Ltd. Particle boards 40.74 58.68 0.52 0.44 0.51 0.64 6.97 15.46 17% 26% 19.75 15.07 357.62 837.08 169.06 117.91 5.53 1.36 7.04 10.5 150.0

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 128: Reinventing the Supply Chain

69 Hanuman Agro Inds. Ltd. Paper 34.75 37 0.75 0.74 1.35 1.41 3.78 3.95 11% 11% NA 23.6 47.41 36.01 NA 64.05 NA 6.13 NA 30.28 150.6

70 Nath Pulp & Paper Mills Ltd. Paper 69.63 64.78 0.95 0.89 2.10 1.83 2.96 4.91 4% 8% 14.8 16.45 69.15 68.14 47.81 70.61 1.82 1.93 10.1 13.74 152.3

71 Mangalam Timber Products Ltd. Boards of woods 71.56 61.78 0.56 0.88 3.81 5.11 8.71 10.26 12% 17% 55.65 80.45 63.96 83.84 81.76 93.5 6.67 6.95 29.59 54.82 152.8

72 Supreme Paper Mills Ltd. Paper 29.45 34.3 0.81 0.78 2.78 3.09 2.44 2.19 8% 6% 20.59 17.81 65.61 57.02 91.15 71.33 2.46 2.59 24.9 23.54 152.9

73 Archies Ltd. Greeting card 105.41 118.89 0.51 0.62 1.54 2.10 15.4 17.31 15% 15% 43.02 34.77 73.78 63.32 60.4 60.66 15.66 14.28 146.85 141.58 154.4

74 Magna Publishing Co. Ltd. Printed books, brochures, etc. 32.82 32.44 0.37 0.41 1.74 1.89 1.44 1.87 4% 6% 110.66 125.4 237.28 300.69 56.67 61.11 34.55 81.11 26.87 22.32 155.5

75 Raman Boards Ltd. Other paper, paperboard products 80.41 27.51 0.64 0.56 1.30 0.39 6.61 6.83 8% 25% 85.71 305.77 57.21 196.83 38.12 103.52 11.59 60.26 4.41 11.8 155.8

76 Purity Flex Pack Ltd. Paper tarred, plastic coated, etc. 16.93 16.52 0.88 0.94 3.80 3.94 1.11 1.35 7% 8% 53.04 59.59 107.89 123.51 75.11 93.41 17.42 22.77 1.56 5.97 155.8

77 Well Pack Papers & Containers Ltd. Kraft paper & paperboard 16.94 16.47 0.86 0.83 1.95 1.83 1.44 1.55 9% 9% NA 61.1 73 74.29 NA 138.93 NA 27.4 NA 7.3 157.3

78 Ausom Enterprise Ltd. Cartons, boxes, cases, etc. 25.2 28.21 0.81 0.83 0.40 0.46 0.83 0.29 3% 1% 84.01 92.96 73.1 76.89 84.22 74.22 11.54 11.81 10.04 9.25 158.8

79 Shree Bhawani Paper Mills Ltd. Writing, printing paper 56.43 36.41 0.44 0.70 0.36 0.38 7.72 -0.6 14% -2% 28.42 56.58 38.9 91.8 106.45 140.06 1.33 4.37 0.63 6.78 161.3

80 Three Star Paper Mills Ltd. Paper 12.17 13.41 0.88 0.99 1.91 2.37 0.68 1.02 6% 8% NA 53.91 22.73 17.63 NA 103.45 NA 31.26 NA 22.3 163.2

81 Uniply Industries Ltd. Plywood 111.04 103.25 0.89 0.88 2.37 2.16 9.85 4.03 9% 4% 71.88 98.43 100.63 61.86 105.89 93.28 67.54 56.79 13.65 19.07 163.7

82 Pudumjee Pulp & Paper Mills Ltd. Paper 190.62 222.6 0.71 0.78 1.06 1.38 20.6 23.78 11% 11% 37.42 42.5 51.82 56.6 134.02 123.08 12.03 6.4 25.32 20.74 165.3

83 Rollatainers Ltd. Cartons, boxes, cases, etc. 38.48 38.68 1.02 1.18 1.51 1.76 -9.57 -1.87 -25% -5% 70.4 67.9 180.01 96.35 53.04 62.83 15.81 20.5 10.14 10.7 167.2

84 Speciality Papers Ltd. Kraft paper & paperboard 45.09 72.8 0.88 0.89 1.36 2.24 6.92 6.43 15% 9% 17.85 14.41 54.26 83.19 335.9 483.96 25.26 69.83 5.08 2.19 170.0

85 Hunsur Plywood Works Pvt. Ltd. Plywood 14.99 26.12 0.76 0.89 6.23 12.81 0.04 2.34 0% 9% 94.13 50.15 152.27 79.38 120.12 73.45 65.8 46.86 43.99 29.48 173.0

86 Ecoboard Industries Ltd. Particle boards 44.25 61.29 0.63 0.45 0.51 0.50 10.11 16.07 23% 26% 69.63 71.33 163.67 127.24 125.76 113.22 51.36 44.59 114.36 98.48 173.4

87 Global Boards Ltd. Composite paper & paperboard (packaging 5.3 13.74 2.43 1.70 0.14 0.26 122.28 -15.7 2307% -114% 243.86 91.25 114.32 67.89 203.13 169.46 7.55 3.76 18.19 15.93 173.8

88 Victory Paper & Boards (India) Ltd. Paper 13.57 11.59 0.71 0.93 0.92 1.03 0.48 -3.67 4% -32% 111.65 100.53 564.69 373.78 145.5 85.53 132.99 146.08 1.88 6.43 174.9

89 Ganga Papers India Ltd. Kraft paper & paperboard 6.73 23.36 1.01 0.90 0.40 1.24 1.48 2.33 22% 10% 40.62 39.73 134.12 51.28 271.4 122.71 10.76 12.53 33.09 19.98 179.3

90 Western India Plywoods Ltd. Plywood 63.43 75.38 0.65 0.60 0.91 1.00 15.29 15.08 24% 20% 46.05 48.22 115.02 80.59 129.14 124.18 106.23 85.7 126.61 115.51 185.0

91 Kitply Industries Ltd. Plywood 70.1 33.77 0.79 0.93 0.09 0.05 8.39 -3.18 12% -9% 42.43 88.26 173.12 428.43 54.56 140.82 5.54 25.56 14.8 16.17 199.4

1 Bright Brothers Ltd. Plastic packaging goods 150.25 280.91 0.64 0.64 2.42 18.24 9.36 73.23 6% 26% 83.35 24.93 54.42 36.79 32.55 13.47 2.87 1.19 9 3.62 54.1

2 Pragati Chemicals Ltd. Amino/phenolic resins & polyurethanes 15.79 15.43 0.86 0.76 17.92 16.31 2.52 1.42 16% 9% 70.3 76.07 34.66 17.1 13.78 16.61 0.28 0.15 24.19 27.82 77.4

3 Orient Press Ltd. Plastic packaging goods 105.68 142.92 0.76 0.73 2.70 3.99 11.57 38.53 11% 27% 59.87 48 95.34 105.12 26.89 20.13 0.9 2.45 1.81 1.8 79.5

4 Axiom Impex Intl. Ltd. Plastic Products 90.08 129.66 0.91 0.83 4.81 2.76 4.68 18.63 5% 14% NA 7.58 46.79 57.44 NA 4.83 NA 5.58 NA 1.64 85.1

5 Ashok Polymers Ltd. Sacks & bags of polyethylene 41.58 58.39 0.84 0.86 3.73 5.30 2.93 3.12 7% 5% 49.72 39.44 47.64 28.31 14.98 15.33 6.79 6.75 1.87 0.94 86.9

6 Mahindra Composites Ltd. Other articles of plastics, nec 26.05 32.12 0.76 0.73 2.57 3.14 1.47 3.15 6% 10% 120.74 112.32 67.97 68.34 22.3 24.07 7.71 8.73 6.09 4.56 88.2

7 Shivalik Agro Poly Products Ltd. Biaxially oriented polypropylene (BOPP) film 41.34 53.09 0.70 0.74 3.68 4.50 4.31 5.85 10% 11% 55.06 62.06 48.18 52.67 31.16 32.81 0.62 0.46 8.19 8.78 89.7

8 International Conveyors Ltd. PVC belt conveyor 49.13 65.01 0.59 0.68 1.07 1.94 10.5 12.85 21% 20% 78.12 79.63 68.88 49.66 21.33 14.36 23.81 18.55 9.02 8.6 90.6

9 Hitech Plast Ltd. Reservoirs, tanks, etc. 93.48 106.86 0.69 0.70 4.94 4.30 13.24 14.88 14% 14% 41.74 42.76 21.91 20.49 25.06 24.91 10.33 13.11 4.7 3.69 91.7

10 Gujarat Polybutenes Pvt. Ltd. Polyisobutylene 53.76 57.37 0.96 0.84 30.40 32.97 2.56 2.81 5% 5% 7.93 15.91 14.02 16.6 9.88 6.61 1.75 1.38 13.77 13.14 95.2

11 Pearl Engineering Polymers Ltd. Polyethylene terephthalate (PET) 152.92 166.36 0.94 0.90 3.60 4.25 2.74 4.92 2% 3% 23.04 13.57 12.78 9.75 9.85 9.38 1.91 2.49 8.35 8.14 96.7

12 Polylink Polymers (India) Ltd. Linear low density polyethylene (LLDPE) 53.95 63.69 0.88 0.85 2.83 3.53 3.06 3.99 6% 6% 64.96 52.37 15.57 19.62 20.3 24.4 0.27 0.23 9.67 9.54 96.9

13 Integrated Thermoplastics Ltd. Tubes, pipes & hoses, flexible 38.67 58.11 1.01 0.88 11.58 16.11 1.61 1.83 4% 3% NA 60.79 124.62 57.25 NA 4.17 NA 1.69 NA 13.85 99.0

14 Resins & Plastics Ltd. Amino/phenolic resins & polyurethanes 47.64 53.25 0.82 0.85 7.59 9.38 3.39 4.35 7% 8% 61.02 64.15 30.71 30.36 19.54 19.53 1.52 2 15.84 15.85 99.8

15 Gopala Polyplast Ltd. Sacks & bags of polyethylene 130.82 131.93 0.87 0.88 3.90 4.12 8.45 2.84 6% 2% 60.68 55.55 12.62 10.25 24.15 25.1 7.27 8.2 3.13 3.55 102.6

16 Milton Plastics Ltd. Carboys, bottles & flasks 48.83 44 0.78 0.69 4.21 3.62 -1.28 10.31 -3% 23% 228.07 220.53 297.97 363.3 28.26 38.58 4.08 5.26 10.25 9.43 103.8

17 Ganpati Plastfab Ltd. Sacks & bags of polyethylene 28.49 31.75 0.85 0.85 6.22 5.34 0.93 1.33 3% 4% 25.04 29.64 19.52 22.18 11.95 12.64 7.32 7.65 6.67 6.94 103.8

18 Tipco Industries Ltd. Amino/phenolic resins & polyurethanes 44.78 45.51 0.87 0.81 3.03 3.07 -2.57 -3.08 -6% -7% NA 64.94 75.03 96.62 NA 20.1 NA 6.6 NA 2.71 104.1

19 Gurukrupa Polyplast Ltd. Sheets of polyethylene 8.81 11.68 0.94 0.89 6.67 9.76 0.29 0.27 3% 2% 68.62 61.34 38.48 16.57 6.38 4.49 9.9 8.4 15.43 13.29 105.7

20 Synthetic Moulders Ltd. Plastic Products 2.76 25.05 0.57 0.58 0.31 2.41 -0.29 7.75 -11% 31% 78.02 83.64 97.24 110.26 127.03 43.81 51.94 17.36 11.12 0.57 106.3

21 T P L Plastech Ltd. Reservoirs, tanks, etc. 44.94 60.44 0.82 0.79 5.42 3.93 5.7 8.15 13% 13% 80.18 65.79 64.08 61.72 24.58 33.49 5.82 8.71 6.06 6.04 106.8

22 Pearl Polymers Ltd. Carboys, bottles & flasks 127.94 135.4 0.68 0.65 1.35 1.32 14.05 15.21 11% 11% 72.23 73.66 76.14 66.33 28.39 29.59 0.92 1.4 15.21 14.98 108.2

PlAstics AnD PolYmers

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers126

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 129: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 127

69 Hanuman Agro Inds. Ltd. Paper 34.75 37 0.75 0.74 1.35 1.41 3.78 3.95 11% 11% NA 23.6 47.41 36.01 NA 64.05 NA 6.13 NA 30.28 150.6

70 Nath Pulp & Paper Mills Ltd. Paper 69.63 64.78 0.95 0.89 2.10 1.83 2.96 4.91 4% 8% 14.8 16.45 69.15 68.14 47.81 70.61 1.82 1.93 10.1 13.74 152.3

71 Mangalam Timber Products Ltd. Boards of woods 71.56 61.78 0.56 0.88 3.81 5.11 8.71 10.26 12% 17% 55.65 80.45 63.96 83.84 81.76 93.5 6.67 6.95 29.59 54.82 152.8

72 Supreme Paper Mills Ltd. Paper 29.45 34.3 0.81 0.78 2.78 3.09 2.44 2.19 8% 6% 20.59 17.81 65.61 57.02 91.15 71.33 2.46 2.59 24.9 23.54 152.9

73 Archies Ltd. Greeting card 105.41 118.89 0.51 0.62 1.54 2.10 15.4 17.31 15% 15% 43.02 34.77 73.78 63.32 60.4 60.66 15.66 14.28 146.85 141.58 154.4

74 Magna Publishing Co. Ltd. Printed books, brochures, etc. 32.82 32.44 0.37 0.41 1.74 1.89 1.44 1.87 4% 6% 110.66 125.4 237.28 300.69 56.67 61.11 34.55 81.11 26.87 22.32 155.5

75 Raman Boards Ltd. Other paper, paperboard products 80.41 27.51 0.64 0.56 1.30 0.39 6.61 6.83 8% 25% 85.71 305.77 57.21 196.83 38.12 103.52 11.59 60.26 4.41 11.8 155.8

76 Purity Flex Pack Ltd. Paper tarred, plastic coated, etc. 16.93 16.52 0.88 0.94 3.80 3.94 1.11 1.35 7% 8% 53.04 59.59 107.89 123.51 75.11 93.41 17.42 22.77 1.56 5.97 155.8

77 Well Pack Papers & Containers Ltd. Kraft paper & paperboard 16.94 16.47 0.86 0.83 1.95 1.83 1.44 1.55 9% 9% NA 61.1 73 74.29 NA 138.93 NA 27.4 NA 7.3 157.3

78 Ausom Enterprise Ltd. Cartons, boxes, cases, etc. 25.2 28.21 0.81 0.83 0.40 0.46 0.83 0.29 3% 1% 84.01 92.96 73.1 76.89 84.22 74.22 11.54 11.81 10.04 9.25 158.8

79 Shree Bhawani Paper Mills Ltd. Writing, printing paper 56.43 36.41 0.44 0.70 0.36 0.38 7.72 -0.6 14% -2% 28.42 56.58 38.9 91.8 106.45 140.06 1.33 4.37 0.63 6.78 161.3

80 Three Star Paper Mills Ltd. Paper 12.17 13.41 0.88 0.99 1.91 2.37 0.68 1.02 6% 8% NA 53.91 22.73 17.63 NA 103.45 NA 31.26 NA 22.3 163.2

81 Uniply Industries Ltd. Plywood 111.04 103.25 0.89 0.88 2.37 2.16 9.85 4.03 9% 4% 71.88 98.43 100.63 61.86 105.89 93.28 67.54 56.79 13.65 19.07 163.7

82 Pudumjee Pulp & Paper Mills Ltd. Paper 190.62 222.6 0.71 0.78 1.06 1.38 20.6 23.78 11% 11% 37.42 42.5 51.82 56.6 134.02 123.08 12.03 6.4 25.32 20.74 165.3

83 Rollatainers Ltd. Cartons, boxes, cases, etc. 38.48 38.68 1.02 1.18 1.51 1.76 -9.57 -1.87 -25% -5% 70.4 67.9 180.01 96.35 53.04 62.83 15.81 20.5 10.14 10.7 167.2

84 Speciality Papers Ltd. Kraft paper & paperboard 45.09 72.8 0.88 0.89 1.36 2.24 6.92 6.43 15% 9% 17.85 14.41 54.26 83.19 335.9 483.96 25.26 69.83 5.08 2.19 170.0

85 Hunsur Plywood Works Pvt. Ltd. Plywood 14.99 26.12 0.76 0.89 6.23 12.81 0.04 2.34 0% 9% 94.13 50.15 152.27 79.38 120.12 73.45 65.8 46.86 43.99 29.48 173.0

86 Ecoboard Industries Ltd. Particle boards 44.25 61.29 0.63 0.45 0.51 0.50 10.11 16.07 23% 26% 69.63 71.33 163.67 127.24 125.76 113.22 51.36 44.59 114.36 98.48 173.4

87 Global Boards Ltd. Composite paper & paperboard (packaging 5.3 13.74 2.43 1.70 0.14 0.26 122.28 -15.7 2307% -114% 243.86 91.25 114.32 67.89 203.13 169.46 7.55 3.76 18.19 15.93 173.8

88 Victory Paper & Boards (India) Ltd. Paper 13.57 11.59 0.71 0.93 0.92 1.03 0.48 -3.67 4% -32% 111.65 100.53 564.69 373.78 145.5 85.53 132.99 146.08 1.88 6.43 174.9

89 Ganga Papers India Ltd. Kraft paper & paperboard 6.73 23.36 1.01 0.90 0.40 1.24 1.48 2.33 22% 10% 40.62 39.73 134.12 51.28 271.4 122.71 10.76 12.53 33.09 19.98 179.3

90 Western India Plywoods Ltd. Plywood 63.43 75.38 0.65 0.60 0.91 1.00 15.29 15.08 24% 20% 46.05 48.22 115.02 80.59 129.14 124.18 106.23 85.7 126.61 115.51 185.0

91 Kitply Industries Ltd. Plywood 70.1 33.77 0.79 0.93 0.09 0.05 8.39 -3.18 12% -9% 42.43 88.26 173.12 428.43 54.56 140.82 5.54 25.56 14.8 16.17 199.4

1 Bright Brothers Ltd. Plastic packaging goods 150.25 280.91 0.64 0.64 2.42 18.24 9.36 73.23 6% 26% 83.35 24.93 54.42 36.79 32.55 13.47 2.87 1.19 9 3.62 54.1

2 Pragati Chemicals Ltd. Amino/phenolic resins & polyurethanes 15.79 15.43 0.86 0.76 17.92 16.31 2.52 1.42 16% 9% 70.3 76.07 34.66 17.1 13.78 16.61 0.28 0.15 24.19 27.82 77.4

3 Orient Press Ltd. Plastic packaging goods 105.68 142.92 0.76 0.73 2.70 3.99 11.57 38.53 11% 27% 59.87 48 95.34 105.12 26.89 20.13 0.9 2.45 1.81 1.8 79.5

4 Axiom Impex Intl. Ltd. Plastic Products 90.08 129.66 0.91 0.83 4.81 2.76 4.68 18.63 5% 14% NA 7.58 46.79 57.44 NA 4.83 NA 5.58 NA 1.64 85.1

5 Ashok Polymers Ltd. Sacks & bags of polyethylene 41.58 58.39 0.84 0.86 3.73 5.30 2.93 3.12 7% 5% 49.72 39.44 47.64 28.31 14.98 15.33 6.79 6.75 1.87 0.94 86.9

6 Mahindra Composites Ltd. Other articles of plastics, nec 26.05 32.12 0.76 0.73 2.57 3.14 1.47 3.15 6% 10% 120.74 112.32 67.97 68.34 22.3 24.07 7.71 8.73 6.09 4.56 88.2

7 Shivalik Agro Poly Products Ltd. Biaxially oriented polypropylene (BOPP) film 41.34 53.09 0.70 0.74 3.68 4.50 4.31 5.85 10% 11% 55.06 62.06 48.18 52.67 31.16 32.81 0.62 0.46 8.19 8.78 89.7

8 International Conveyors Ltd. PVC belt conveyor 49.13 65.01 0.59 0.68 1.07 1.94 10.5 12.85 21% 20% 78.12 79.63 68.88 49.66 21.33 14.36 23.81 18.55 9.02 8.6 90.6

9 Hitech Plast Ltd. Reservoirs, tanks, etc. 93.48 106.86 0.69 0.70 4.94 4.30 13.24 14.88 14% 14% 41.74 42.76 21.91 20.49 25.06 24.91 10.33 13.11 4.7 3.69 91.7

10 Gujarat Polybutenes Pvt. Ltd. Polyisobutylene 53.76 57.37 0.96 0.84 30.40 32.97 2.56 2.81 5% 5% 7.93 15.91 14.02 16.6 9.88 6.61 1.75 1.38 13.77 13.14 95.2

11 Pearl Engineering Polymers Ltd. Polyethylene terephthalate (PET) 152.92 166.36 0.94 0.90 3.60 4.25 2.74 4.92 2% 3% 23.04 13.57 12.78 9.75 9.85 9.38 1.91 2.49 8.35 8.14 96.7

12 Polylink Polymers (India) Ltd. Linear low density polyethylene (LLDPE) 53.95 63.69 0.88 0.85 2.83 3.53 3.06 3.99 6% 6% 64.96 52.37 15.57 19.62 20.3 24.4 0.27 0.23 9.67 9.54 96.9

13 Integrated Thermoplastics Ltd. Tubes, pipes & hoses, flexible 38.67 58.11 1.01 0.88 11.58 16.11 1.61 1.83 4% 3% NA 60.79 124.62 57.25 NA 4.17 NA 1.69 NA 13.85 99.0

14 Resins & Plastics Ltd. Amino/phenolic resins & polyurethanes 47.64 53.25 0.82 0.85 7.59 9.38 3.39 4.35 7% 8% 61.02 64.15 30.71 30.36 19.54 19.53 1.52 2 15.84 15.85 99.8

15 Gopala Polyplast Ltd. Sacks & bags of polyethylene 130.82 131.93 0.87 0.88 3.90 4.12 8.45 2.84 6% 2% 60.68 55.55 12.62 10.25 24.15 25.1 7.27 8.2 3.13 3.55 102.6

16 Milton Plastics Ltd. Carboys, bottles & flasks 48.83 44 0.78 0.69 4.21 3.62 -1.28 10.31 -3% 23% 228.07 220.53 297.97 363.3 28.26 38.58 4.08 5.26 10.25 9.43 103.8

17 Ganpati Plastfab Ltd. Sacks & bags of polyethylene 28.49 31.75 0.85 0.85 6.22 5.34 0.93 1.33 3% 4% 25.04 29.64 19.52 22.18 11.95 12.64 7.32 7.65 6.67 6.94 103.8

18 Tipco Industries Ltd. Amino/phenolic resins & polyurethanes 44.78 45.51 0.87 0.81 3.03 3.07 -2.57 -3.08 -6% -7% NA 64.94 75.03 96.62 NA 20.1 NA 6.6 NA 2.71 104.1

19 Gurukrupa Polyplast Ltd. Sheets of polyethylene 8.81 11.68 0.94 0.89 6.67 9.76 0.29 0.27 3% 2% 68.62 61.34 38.48 16.57 6.38 4.49 9.9 8.4 15.43 13.29 105.7

20 Synthetic Moulders Ltd. Plastic Products 2.76 25.05 0.57 0.58 0.31 2.41 -0.29 7.75 -11% 31% 78.02 83.64 97.24 110.26 127.03 43.81 51.94 17.36 11.12 0.57 106.3

21 T P L Plastech Ltd. Reservoirs, tanks, etc. 44.94 60.44 0.82 0.79 5.42 3.93 5.7 8.15 13% 13% 80.18 65.79 64.08 61.72 24.58 33.49 5.82 8.71 6.06 6.04 106.8

22 Pearl Polymers Ltd. Carboys, bottles & flasks 127.94 135.4 0.68 0.65 1.35 1.32 14.05 15.21 11% 11% 72.23 73.66 76.14 66.33 28.39 29.59 0.92 1.4 15.21 14.98 108.2

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 130: Reinventing the Supply Chain

23 K G Petrochem Ltd. Sacks & bags of polyethylene 30.62 49.62 0.80 0.69 0.81 1.23 5.06 8.42 17% 17% 72.52 60.75 22.13 26.25 30.54 23.86 17.65 22.43 7.34 7.79 109.2

24 Sunrise Containers Ltd. Plastic bottles 74.42 99.55 0.73 0.70 1.25 1.64 12.62 15.06 17% 15% 54.9 42.04 55.49 19.75 29.48 28.34 1.64 2.09 24.34 23.4 110.9

25 Ecoplast Ltd. Other sheets, films & foils of plastics 34.85 37.31 0.79 0.80 2.72 2.36 2.81 3.41 8% 9% 66.18 65.08 31.04 50.55 45.72 52.69 2.96 1.8 8.25 7.59 113.9

26 Virgo Polymers (India) Ltd. Sacks & bags of polyethylene 43.24 51.87 0.78 0.83 3.22 4.41 2.09 1.45 5% 3% 29.57 31.21 71.2 89.91 14.42 12.44 23.76 15.39 6.55 2.58 113.9

27 Texplast Industries Ltd. Sacks & bags 18.66 20.97 0.80 0.71 4.98 4.89 1.39 2.12 7% 10% 78.48 68.97 72.02 77.79 19.41 19.7 57.91 68.32 14.97 5.34 114.1

28 Polyplex Corporation Ltd. Polyester film 199.94 209.75 0.73 0.68 1.31 1.07 22.17 32.65 11% 16% 44.43 41.9 22.77 24.29 29.86 38.26 11.65 12.32 4.94 4.34 114.8

29 Sah Polymers Ltd. Sacks & bags of polyethylene 8.94 17.98 0.84 0.84 1.32 2.42 1.05 2.35 12% 13% 39.62 34.82 21.34 12.27 22.71 15.52 35.56 34.44 6.14 5.06 114.8

30 Mewar Polytex Ltd. Boxes, cases & crates 20.63 23.36 0.80 0.80 4.30 4.18 1.32 2.03 6% 9% 57.43 45.82 7.29 5.51 18.86 34.94 6.37 4.92 14.32 13.26 114.9

31 Emmbi Polyarns Ltd. Sacks & bags 22.88 29.54 0.84 0.80 1.54 1.75 2.62 3.54 11% 12% 43.05 56.53 20.88 19.34 17.43 17.27 48.83 57.96 2.1 6.76 115.7

32 Shri Jagdamba Polymers Ltd. Sacks & bags of polyethylene 8.83 12.56 0.54 0.66 0.53 1.01 1.79 2.1 20% 17% 44.47 38.37 28.62 21.26 67.38 36.14 27 19.16 1.15 3.65 116.2

33 Sudhakar Polymers Ltd. PVC pipes 44.89 51.32 0.88 0.82 3.53 3.23 4.16 4.69 9% 9% 58.11 43.75 18.19 20.46 21.27 21.13 0 4.44 28.59 28 116.5

34 Prasol Chemicals Ltd. Polyester or contract resins 43.68 63.95 0.81 0.84 2.05 2.49 5.19 5.65 12% 9% 54.85 54.88 73.92 63.2 26.67 33.87 8.2 6.91 6.44 5.03 117.3

35 Beardsell Ltd. Expandable polystyrene 51.98 60.27 0.89 0.85 10.60 12.18 4.59 4.6 9% 8% 83.46 76.18 82.17 84.64 9.22 22.93 19.43 24.36 5.6 6.81 117.3

36 Jhaveri Flexo India Ltd. Other sheets, films & foils of plastics 104.38 131.16 0.83 0.79 2.70 1.70 9.14 21.94 9% 17% 55.83 64.34 29.66 94.34 53.71 53.81 1.79 2.69 2.39 4.57 117.6

37 Espiem Plasticss Ltd. Plastic Products 32.88 39.27 0.66 0.60 1.49 1.61 3.66 4.42 11% 11% 35.63 29.34 56.33 49.61 19.51 16.89 10.69 13.06 9.37 10.61 118.0

38 Pankaj Polymers Ltd. Sacks & bags of polyethylene 32.12 30.47 0.93 0.91 4.19 4.10 1.82 1.78 6% 6% 64.55 58.67 9.09 10.31 20.41 24.61 16.29 25.8 4.95 5.15 118.3

39 Polynova Industries Ltd. Synthetic leather cloth 65.49 74.48 0.84 0.83 7.46 8.35 2.62 4.6 4% 6% 66.98 82.17 81.48 86.01 42.9 38.88 6.32 5.48 9.72 9.48 118.5

40 Hydro S & S Inds. Ltd. Other articles of plastics, nec 100.76 116.9 0.87 0.84 4.70 4.21 7.84 12.57 8% 11% 65.83 66.02 34.58 48.15 35.11 48.24 2.16 3.33 12.29 11.59 120.0

41 Radha Madhav Corpn. Ltd. Plastic packaging goods 78.6 141.66 0.90 0.85 1.06 0.86 12.35 30.16 16% 21% 75.96 85.57 31.52 21.65 35.9 26.76 43.87 88.85 5.78 4.28 120.1

42 Peacock Industries Ltd. Other articles of plastics 10.54 13.11 0.96 0.93 0.97 1.32 1.3 0.56 12% 4% 110.93 87.96 1093.83 916.19 12.11 14.48 0.91 1.08 10.13 10.66 120.4

43 Classic Stripes Pvt. Ltd. Self-adhesive plates, sheets, films, etc. 163.63 185.08 0.52 0.42 1.03 1.31 57.64 79.79 35% 43% NA 81.75 39.7 42.97 NA 44.75 NA 13.13 NA 12.38 121.4

44 Deccan Polypacks Ltd. Plastic packaging goods 25.67 28.32 0.90 0.90 7.90 9.45 1.71 2.19 7% 8% 73.52 77.47 72.9 82.55 23.97 32.11 39.48 52.85 0.42 1.2 122.8

45 Bhansali Engineering Polymers Ltd. Acrylonitrile butadiene styrene 240.84 264.53 0.80 0.83 0.89 1.08 37.52 32.54 16% 12% 190.46 194.64 176.74 163.39 40.46 32.3 33.04 28.45 4.22 1.66 124.5

46 Premier Polyfilm Ltd. Other sheets, films & foils of plastics 46.25 61.56 0.78 0.89 2.40 4.03 2.59 35.83 6% 58% 28.81 31.55 82.65 73.48 27.37 24.11 11.4 8.76 12.54 10.48 124.7

47 Sharp Industries Ltd. Biaxially oriented polypropylene (BOPP) film 49.67 83.12 0.96 0.74 2.09 3.20 -13.78 20.54 -28% 25% 267.01 165.64 371.63 109.87 140.31 74.88 20.74 8.78 5.63 8.47 125.9

48 Shaily Engineering Plastics Ltd. Plastic Products 49.91 60.07 0.71 0.73 1.72 1.40 8.3 8 17% 13% 101.16 85.82 57.67 57.67 42.46 40.82 11.75 11.39 7.71 10.73 126.3

49 R T Packaging Ltd. Other plastic packaging goods 20.75 18.08 1.07 1.08 1.03 0.98 4.5 6.03 22% 33% 54.07 41.97 132.16 164.04 17.23 27.26 6.74 6.93 2.97 3.29 127.3

50 Fenoplast Ltd. Synthetic leather cloth 100.76 97.57 0.81 0.85 3.79 2.66 8.48 8.77 8% 9% 95.97 104.82 74.91 93.77 24.61 32.8 7.18 5.96 15.28 15.71 128.9

51 M T Z Polyfilms Ltd. Polyester film 94.99 99.98 0.90 0.83 0.54 0.55 -0.76 6.73 -1% 7% 23.3 25.08 121.75 111.5 26.04 29.46 2.93 4.92 2.14 1.7 130.0

52 Vinyoflex Ltd. Sheets of polyethylene 17.6 21.91 0.90 1.00 4.46 6.51 1.16 1.13 7% 5% 113.19 104.62 75.95 82.12 35.47 32.09 9.24 7.85 9.73 13.27 130.3

53 Marvel Industries Ltd. Other plastic packaging goods 52.41 49.75 1.02 0.81 6.65 6.57 -1.77 -3.62 -3% -7% 10.07 15.27 55.89 92.98 12.67 18.99 0.94 1.74 21.85 21.01 130.5

54 Polyspin Ltd. Sacks & bags of polyethylene 30.32 28.71 0.82 0.76 8.52 8.95 2.02 1.69 7% 6% 1.45 0.96 26.84 18.75 29.87 33.43 3.6 4.77 26.11 31.32 130.7

55 Hindustan Adhesives Ltd. Cellulose adhesive tapes 28.82 34.77 0.69 0.67 1.21 1.73 3.74 6.84 13% 20% 76.24 62.93 61.99 52.79 45.03 40.91 23.47 19.38 12.95 10.61 130.9

56 Neo Corp Intl. Ltd. Sacks & bags of polyethylene 61.85 108.4 0.86 0.90 3.91 4.70 5.49 15.29 9% 14% 121.41 98.55 93.42 67.31 28.06 14.07 44.42 28.32 63.39 48.58 132.3

57 Polyspin Exports Ltd. HDPE woven sacks 34.92 35.66 0.69 0.72 3.72 4.04 2.2 2.43 6% 7% 38.76 41.57 24.37 29.67 25.99 36.17 34.09 32.29 8.91 5.55 132.6

58 Kisan Mouldings Ltd. Tubes, pipes & hoses of poly vinyl chloride 104.81 124.48 0.72 0.88 2.54 2.83 11.58 14.21 11% 11% 101.72 95.41 58.11 67.68 16.19 15.48 18.87 18.97 29.75 34.3 132.9

59 Golden Laminates Ltd. Sheets, films, etc. of plastic, not reinforced 40.36 46.08 0.76 0.74 2.73 3.15 4.31 7.23 11% 16% 42.36 34.89 39.57 48.21 75.63 83.3 1.25 1.07 15.27 15.23 133.3

60 Jumbo Bag Ltd. Sacks & bags 48.78 56.81 0.76 0.74 1.48 1.67 4.85 6.12 10% 11% 57.22 61.06 42.18 47.65 27.69 25.45 51.84 43.66 9.87 10.45 134.8

61 Alfa Ica (India) Ltd. Sheets, films, etc. of plastic, not reinforced 38.85 43.82 0.83 0.81 3.42 3.85 2.86 3.15 7% 7% 30.42 41.36 41.89 23.65 172.59 144.3 0.59 0.69 12.79 11.69 135.3

62 Deco-Mica Ltd. Sheets, films, etc. of plastic, not reinforced 14.31 16.46 0.88 0.95 11.73 9.06 0.62 0.95 4% 6% 122.33 135.01 95.4 93.36 60.25 60.57 1.9 0.86 23.33 24.8 136.7

63 Xpro India Ltd. Biaxially oriented polypropylene (BOPP) film 120.26 133.5 0.80 0.79 1.07 1.09 19.27 15.22 16% 11% 68.96 69.25 86.34 82.61 46.74 40.43 6.15 9.26 9.6 9.55 137.2

64 Arvind International Ltd. Sheets, films, etc. of plastic, not reinforced 14.11 24.28 0.95 0.91 2.18 3.45 2.13 2.24 15% 9% 176.29 94.48 91.37 66.81 65.2 54.94 9.81 16.15 8 7.32 137.6

65 Tulsi Extrusions Ltd. PVC pipes 62.93 66.1 0.89 0.97 10.70 2.76 8.76 9.16 14% 14% NA 120.82 43.09 14.38 NA 35.14 NA 24.49 NA 35.26 141.7

66 National Plastic Inds. Ltd. Plastic Products 34.48 33.07 0.70 0.80 1.91 2.15 2.11 2.47 6% 7% 93.43 91.67 46.67 64.92 31.68 20.45 20.93 20.58 35.6 51.14 142.4

67 Gujarat Craft Inds. Ltd. Sacks & bags of polyethylene 23.15 22.93 0.78 0.97 5.82 3.35 1.01 1.57 4% 7% 55.06 56.26 15.74 47.99 8.52 18.33 23.09 43.87 10.97 10.59 142.8

68 Uniproducts (India) Ltd. Floor coverings of plastics 107.92 120.8 0.73 0.74 1.06 0.98 12.73 15.03 12% 12% 50.55 48.77 64.55 64.6 44.38 53.09 4.28 7.41 12.42 12.25 145.4

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers128

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 131: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 129

23 K G Petrochem Ltd. Sacks & bags of polyethylene 30.62 49.62 0.80 0.69 0.81 1.23 5.06 8.42 17% 17% 72.52 60.75 22.13 26.25 30.54 23.86 17.65 22.43 7.34 7.79 109.2

24 Sunrise Containers Ltd. Plastic bottles 74.42 99.55 0.73 0.70 1.25 1.64 12.62 15.06 17% 15% 54.9 42.04 55.49 19.75 29.48 28.34 1.64 2.09 24.34 23.4 110.9

25 Ecoplast Ltd. Other sheets, films & foils of plastics 34.85 37.31 0.79 0.80 2.72 2.36 2.81 3.41 8% 9% 66.18 65.08 31.04 50.55 45.72 52.69 2.96 1.8 8.25 7.59 113.9

26 Virgo Polymers (India) Ltd. Sacks & bags of polyethylene 43.24 51.87 0.78 0.83 3.22 4.41 2.09 1.45 5% 3% 29.57 31.21 71.2 89.91 14.42 12.44 23.76 15.39 6.55 2.58 113.9

27 Texplast Industries Ltd. Sacks & bags 18.66 20.97 0.80 0.71 4.98 4.89 1.39 2.12 7% 10% 78.48 68.97 72.02 77.79 19.41 19.7 57.91 68.32 14.97 5.34 114.1

28 Polyplex Corporation Ltd. Polyester film 199.94 209.75 0.73 0.68 1.31 1.07 22.17 32.65 11% 16% 44.43 41.9 22.77 24.29 29.86 38.26 11.65 12.32 4.94 4.34 114.8

29 Sah Polymers Ltd. Sacks & bags of polyethylene 8.94 17.98 0.84 0.84 1.32 2.42 1.05 2.35 12% 13% 39.62 34.82 21.34 12.27 22.71 15.52 35.56 34.44 6.14 5.06 114.8

30 Mewar Polytex Ltd. Boxes, cases & crates 20.63 23.36 0.80 0.80 4.30 4.18 1.32 2.03 6% 9% 57.43 45.82 7.29 5.51 18.86 34.94 6.37 4.92 14.32 13.26 114.9

31 Emmbi Polyarns Ltd. Sacks & bags 22.88 29.54 0.84 0.80 1.54 1.75 2.62 3.54 11% 12% 43.05 56.53 20.88 19.34 17.43 17.27 48.83 57.96 2.1 6.76 115.7

32 Shri Jagdamba Polymers Ltd. Sacks & bags of polyethylene 8.83 12.56 0.54 0.66 0.53 1.01 1.79 2.1 20% 17% 44.47 38.37 28.62 21.26 67.38 36.14 27 19.16 1.15 3.65 116.2

33 Sudhakar Polymers Ltd. PVC pipes 44.89 51.32 0.88 0.82 3.53 3.23 4.16 4.69 9% 9% 58.11 43.75 18.19 20.46 21.27 21.13 0 4.44 28.59 28 116.5

34 Prasol Chemicals Ltd. Polyester or contract resins 43.68 63.95 0.81 0.84 2.05 2.49 5.19 5.65 12% 9% 54.85 54.88 73.92 63.2 26.67 33.87 8.2 6.91 6.44 5.03 117.3

35 Beardsell Ltd. Expandable polystyrene 51.98 60.27 0.89 0.85 10.60 12.18 4.59 4.6 9% 8% 83.46 76.18 82.17 84.64 9.22 22.93 19.43 24.36 5.6 6.81 117.3

36 Jhaveri Flexo India Ltd. Other sheets, films & foils of plastics 104.38 131.16 0.83 0.79 2.70 1.70 9.14 21.94 9% 17% 55.83 64.34 29.66 94.34 53.71 53.81 1.79 2.69 2.39 4.57 117.6

37 Espiem Plasticss Ltd. Plastic Products 32.88 39.27 0.66 0.60 1.49 1.61 3.66 4.42 11% 11% 35.63 29.34 56.33 49.61 19.51 16.89 10.69 13.06 9.37 10.61 118.0

38 Pankaj Polymers Ltd. Sacks & bags of polyethylene 32.12 30.47 0.93 0.91 4.19 4.10 1.82 1.78 6% 6% 64.55 58.67 9.09 10.31 20.41 24.61 16.29 25.8 4.95 5.15 118.3

39 Polynova Industries Ltd. Synthetic leather cloth 65.49 74.48 0.84 0.83 7.46 8.35 2.62 4.6 4% 6% 66.98 82.17 81.48 86.01 42.9 38.88 6.32 5.48 9.72 9.48 118.5

40 Hydro S & S Inds. Ltd. Other articles of plastics, nec 100.76 116.9 0.87 0.84 4.70 4.21 7.84 12.57 8% 11% 65.83 66.02 34.58 48.15 35.11 48.24 2.16 3.33 12.29 11.59 120.0

41 Radha Madhav Corpn. Ltd. Plastic packaging goods 78.6 141.66 0.90 0.85 1.06 0.86 12.35 30.16 16% 21% 75.96 85.57 31.52 21.65 35.9 26.76 43.87 88.85 5.78 4.28 120.1

42 Peacock Industries Ltd. Other articles of plastics 10.54 13.11 0.96 0.93 0.97 1.32 1.3 0.56 12% 4% 110.93 87.96 1093.83 916.19 12.11 14.48 0.91 1.08 10.13 10.66 120.4

43 Classic Stripes Pvt. Ltd. Self-adhesive plates, sheets, films, etc. 163.63 185.08 0.52 0.42 1.03 1.31 57.64 79.79 35% 43% NA 81.75 39.7 42.97 NA 44.75 NA 13.13 NA 12.38 121.4

44 Deccan Polypacks Ltd. Plastic packaging goods 25.67 28.32 0.90 0.90 7.90 9.45 1.71 2.19 7% 8% 73.52 77.47 72.9 82.55 23.97 32.11 39.48 52.85 0.42 1.2 122.8

45 Bhansali Engineering Polymers Ltd. Acrylonitrile butadiene styrene 240.84 264.53 0.80 0.83 0.89 1.08 37.52 32.54 16% 12% 190.46 194.64 176.74 163.39 40.46 32.3 33.04 28.45 4.22 1.66 124.5

46 Premier Polyfilm Ltd. Other sheets, films & foils of plastics 46.25 61.56 0.78 0.89 2.40 4.03 2.59 35.83 6% 58% 28.81 31.55 82.65 73.48 27.37 24.11 11.4 8.76 12.54 10.48 124.7

47 Sharp Industries Ltd. Biaxially oriented polypropylene (BOPP) film 49.67 83.12 0.96 0.74 2.09 3.20 -13.78 20.54 -28% 25% 267.01 165.64 371.63 109.87 140.31 74.88 20.74 8.78 5.63 8.47 125.9

48 Shaily Engineering Plastics Ltd. Plastic Products 49.91 60.07 0.71 0.73 1.72 1.40 8.3 8 17% 13% 101.16 85.82 57.67 57.67 42.46 40.82 11.75 11.39 7.71 10.73 126.3

49 R T Packaging Ltd. Other plastic packaging goods 20.75 18.08 1.07 1.08 1.03 0.98 4.5 6.03 22% 33% 54.07 41.97 132.16 164.04 17.23 27.26 6.74 6.93 2.97 3.29 127.3

50 Fenoplast Ltd. Synthetic leather cloth 100.76 97.57 0.81 0.85 3.79 2.66 8.48 8.77 8% 9% 95.97 104.82 74.91 93.77 24.61 32.8 7.18 5.96 15.28 15.71 128.9

51 M T Z Polyfilms Ltd. Polyester film 94.99 99.98 0.90 0.83 0.54 0.55 -0.76 6.73 -1% 7% 23.3 25.08 121.75 111.5 26.04 29.46 2.93 4.92 2.14 1.7 130.0

52 Vinyoflex Ltd. Sheets of polyethylene 17.6 21.91 0.90 1.00 4.46 6.51 1.16 1.13 7% 5% 113.19 104.62 75.95 82.12 35.47 32.09 9.24 7.85 9.73 13.27 130.3

53 Marvel Industries Ltd. Other plastic packaging goods 52.41 49.75 1.02 0.81 6.65 6.57 -1.77 -3.62 -3% -7% 10.07 15.27 55.89 92.98 12.67 18.99 0.94 1.74 21.85 21.01 130.5

54 Polyspin Ltd. Sacks & bags of polyethylene 30.32 28.71 0.82 0.76 8.52 8.95 2.02 1.69 7% 6% 1.45 0.96 26.84 18.75 29.87 33.43 3.6 4.77 26.11 31.32 130.7

55 Hindustan Adhesives Ltd. Cellulose adhesive tapes 28.82 34.77 0.69 0.67 1.21 1.73 3.74 6.84 13% 20% 76.24 62.93 61.99 52.79 45.03 40.91 23.47 19.38 12.95 10.61 130.9

56 Neo Corp Intl. Ltd. Sacks & bags of polyethylene 61.85 108.4 0.86 0.90 3.91 4.70 5.49 15.29 9% 14% 121.41 98.55 93.42 67.31 28.06 14.07 44.42 28.32 63.39 48.58 132.3

57 Polyspin Exports Ltd. HDPE woven sacks 34.92 35.66 0.69 0.72 3.72 4.04 2.2 2.43 6% 7% 38.76 41.57 24.37 29.67 25.99 36.17 34.09 32.29 8.91 5.55 132.6

58 Kisan Mouldings Ltd. Tubes, pipes & hoses of poly vinyl chloride 104.81 124.48 0.72 0.88 2.54 2.83 11.58 14.21 11% 11% 101.72 95.41 58.11 67.68 16.19 15.48 18.87 18.97 29.75 34.3 132.9

59 Golden Laminates Ltd. Sheets, films, etc. of plastic, not reinforced 40.36 46.08 0.76 0.74 2.73 3.15 4.31 7.23 11% 16% 42.36 34.89 39.57 48.21 75.63 83.3 1.25 1.07 15.27 15.23 133.3

60 Jumbo Bag Ltd. Sacks & bags 48.78 56.81 0.76 0.74 1.48 1.67 4.85 6.12 10% 11% 57.22 61.06 42.18 47.65 27.69 25.45 51.84 43.66 9.87 10.45 134.8

61 Alfa Ica (India) Ltd. Sheets, films, etc. of plastic, not reinforced 38.85 43.82 0.83 0.81 3.42 3.85 2.86 3.15 7% 7% 30.42 41.36 41.89 23.65 172.59 144.3 0.59 0.69 12.79 11.69 135.3

62 Deco-Mica Ltd. Sheets, films, etc. of plastic, not reinforced 14.31 16.46 0.88 0.95 11.73 9.06 0.62 0.95 4% 6% 122.33 135.01 95.4 93.36 60.25 60.57 1.9 0.86 23.33 24.8 136.7

63 Xpro India Ltd. Biaxially oriented polypropylene (BOPP) film 120.26 133.5 0.80 0.79 1.07 1.09 19.27 15.22 16% 11% 68.96 69.25 86.34 82.61 46.74 40.43 6.15 9.26 9.6 9.55 137.2

64 Arvind International Ltd. Sheets, films, etc. of plastic, not reinforced 14.11 24.28 0.95 0.91 2.18 3.45 2.13 2.24 15% 9% 176.29 94.48 91.37 66.81 65.2 54.94 9.81 16.15 8 7.32 137.6

65 Tulsi Extrusions Ltd. PVC pipes 62.93 66.1 0.89 0.97 10.70 2.76 8.76 9.16 14% 14% NA 120.82 43.09 14.38 NA 35.14 NA 24.49 NA 35.26 141.7

66 National Plastic Inds. Ltd. Plastic Products 34.48 33.07 0.70 0.80 1.91 2.15 2.11 2.47 6% 7% 93.43 91.67 46.67 64.92 31.68 20.45 20.93 20.58 35.6 51.14 142.4

67 Gujarat Craft Inds. Ltd. Sacks & bags of polyethylene 23.15 22.93 0.78 0.97 5.82 3.35 1.01 1.57 4% 7% 55.06 56.26 15.74 47.99 8.52 18.33 23.09 43.87 10.97 10.59 142.8

68 Uniproducts (India) Ltd. Floor coverings of plastics 107.92 120.8 0.73 0.74 1.06 0.98 12.73 15.03 12% 12% 50.55 48.77 64.55 64.6 44.38 53.09 4.28 7.41 12.42 12.25 145.4

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 132: Reinventing the Supply Chain

69 Sturdy Industries Ltd. Tubes, pipes & hoses of poly vinyl chloride 67.03 112.56 1.03 0.83 4.31 5.98 4.78 8.4 7% 7% 65.88 54.01 93.33 75.26 49.13 36.76 4.97 8.39 45.13 27.35 148.1

70 Bajaj Steel Inds. Ltd. Sacks & bags 175.79 188.19 0.75 0.71 8.60 5.62 10.09 17.08 6% 9% 29.54 30.38 58.75 76.3 39.63 46.64 20.56 30.95 10.81 8.17 149.1

71 Caprihans India Ltd. Sheets, films, etc. of plastic, not reinforced 126.92 124.26 0.79 0.87 2.89 3.20 13.18 7.08 10% 6% 100.65 108.18 72.6 66.96 49.66 51.26 4.96 6.68 31.01 33.41 149.2

72 Acrysil Ltd. Tableware, kitchenware, other household 20.08 30.53 0.57 0.51 1.86 1.38 3.36 6.73 17% 22% 167.52 131.65 94.42 84.89 85.41 75.29 36.31 21.23 18.14 22.31 151.0

73 Rishi Packers Ltd. Sacks & bags 29.42 27.38 0.75 0.82 1.47 1.67 3.8 2.06 13% 8% 59.04 60.16 70.39 86.84 37.54 42.76 89.92 94.23 2.12 1.42 152.1

74 Samsonite South Asia Pvt. Ltd. Moulded luggage 247.77 291.76 0.73 0.56 3.20 3.11 48.28 57.39 19% 20% 45.13 50.75 106.78 106.24 53.87 52.74 8.21 7.81 35.96 34.11 153.6

75 Safari Industries (India) Ltd. Moulded luggage 51.26 56.63 0.67 0.76 8.55 11.97 3.17 4.65 6% 8% 79.8 80.45 92 95.08 63.12 65.77 7.92 6.97 60.38 57.38 154.3

76 Innocorp Ltd. Plastic Products 27.8 18.2 0.78 0.77 2.59 1.47 2.1 1.53 8% 8% 134.98 221.74 128.53 177.7 20.9 30.04 27.63 33.44 9.75 16.69 154.8

77 Marvel Vinyls Ltd. Sheets of vinyl chloride 63.15 63.31 0.89 0.91 4.47 4.67 1.83 2.55 3% 4% 52.09 64.69 63.76 63.98 20.67 22.92 33.98 28.43 28.5 28.55 154.8

78 Balmer Lawrie-Van Leer Ltd. Reservoirs, tanks, etc. 102.74 112.32 0.78 0.76 2.12 1.53 11.45 7.86 11% 7% 54.53 58.01 52.23 119.27 48.35 52.39 8.24 9.3 11.72 9.08 157.3

79 Kemrock Industries & Exports Ltd. Other articles of plastics 136.78 219.72 0.61 0.79 0.57 0.73 42.66 70.71 31% 32% 120.79 132.8 160.56 113.31 78.37 81.07 127.35 180.61 4.66 5.33 158.4

80 Glory Polyfilms Ltd. Plastic film 38.14 60.67 0.87 0.82 1.40 0.95 6.9 8.5 18% 14% 119.05 117.86 103.25 123.08 108.94 82.5 72.31 26.5 9.96 8.55 160.9

81 Tainwala Chemicals & Plastics (India) Ltd. Sheets, films, etc. of plastic, not reinforced 14.35 13.36 0.74 0.78 1.52 1.58 2.64 6.47 18% 48% 108.44 76.65 29.16 19.35 87.36 69.35 13.98 29.65 34.75 46.44 161.3

82 National Plastic Technologies Ltd. Plastic Products 26.52 37.86 0.72 0.76 0.96 1.34 4.86 7.05 18% 19% 120.48 96.18 192.44 150.83 54.16 43.73 32.7 34.94 18.57 19.56 164.2

83 Dalmia Laminators Ltd. Sacks & bags of polyethylene 26.19 28.78 0.93 0.98 5.13 2.08 1.07 0.37 4% 1% 37.69 34.88 31.19 47.41 22.36 48.67 47.74 83.15 1.7 3.42 168.0

84 Karur K C P Packkagings Ltd. Sacks & bags of polyethylene 187.21 198.52 0.67 0.55 0.96 0.79 42.59 47.8 23% 24% 100.59 106.08 101.73 102.65 237.02 253.9 58.52 73.98 10.99 12.79 168.7

85 Tokyo Plast International Ltd. Other articles of plastics 17.85 23.53 0.64 0.74 1.25 1.73 2.14 3.21 12% 14% 234.17 176.87 171.41 110.59 36.63 44 97.29 91.04 30.76 30.12 168.7

86 Morgan Industries Ltd. Sheets, films, etc. of plastic, not reinforced 26.13 45.56 0.79 0.77 1.61 1.60 3.02 4.37 12% 10% 175.69 106.3 121.42 92.51 82.62 55.02 36.45 28.12 69.54 31.65 169.8

87 J M G Corporation Ltd. Cellulose adhesive tapes 3.64 30.99 0.56 0.90 0.48 7.16 1.44 1.21 40% 4% 138.12 76.6 114.48 115.08 163.78 154.04 166.45 158.9 7.85 3.26 171.2

88 Shree Rama Multi-Tech Ltd. Other plastic packaging goods 59.4 72.56 0.62 0.56 0.14 0.15 -50.98 -63.5 -86% -88% 91.17 66.68 307.26 653.73 52.22 65.2 16.97 15.03 14.45 10.22 172.1

89 Fancy Fittings Ltd. Plastic Products 36.11 34.83 0.67 0.72 1.35 1.27 8.55 5.17 24% 15% 79.58 77.46 83.42 109.63 55.51 64.79 21.18 28.05 20.94 29.22 173.0

90 Sundek India Ltd. Sheets, films, etc. of plastic, not reinforced 35.43 35.74 0.97 0.85 6.74 6.12 2.87 2.2 8% 6% 38.06 35.12 87.63 99.18 89.47 99.03 3.16 4.36 57.41 67.77 179.8

91 Royal Cushion Vinyl Products Ltd. Floor coverings of plastics 61.43 69.25 1.03 0.80 0.71 0.66 -8.37 3.54 -14% 5% 156.41 136.15 255.18 297.89 68.98 64.84 26.95 32.65 13.38 16.3 186.6

92 Smitabh Intercon Ltd. HDPE bags 18.93 19.96 0.83 0.94 4.20 5.78 1 0.84 5% 4% 54.85 91.75 82.64 130.65 54.98 66.31 18.88 35.6 22.24 21.24 189.7

93 Bloom Dekor Ltd. Sheets, films, etc. of plastic, not reinforced 30 30.8 0.85 0.94 2.33 1.93 2.21 2.38 7% 8% 78.01 78.09 96.32 116.31 109.24 105.51 8.66 9.38 36.19 44.91 191.3

94 Dujodwala Paper Chemicals Ltd. Amino/phenolic resins & polyurethanes 64.82 81.85 1.43 0.86 6.22 2.86 3.98 4.65 6% 6% 53.33 69.38 60.33 117.78 94.73 54.01 61.25 67.69 58.82 81.08 205.8

95 Venlon Enterprises Ltd. Polyester film 47.25 60.26 0.90 1.07 0.35 0.59 2.05 0.89 4% 1% 38.05 23.63 150.29 66.27 56.6 33.62 54.15 39.99 43.5 40.15 206.8

96 Biopac India Corpn. Ltd. Tableware, kitchenware, other household 19.43 20.08 0.64 0.82 0.42 0.65 4.63 7.05 24% 35% 37.79 36.2 246.05 182.66 41.23 64.52 202.02 265.15 58.28 86.02 216.9

1 Uniroyal Industries Ltd. Textile labels, badges, etc. 9.68 26.26 0.54 0.80 0.35 1.48 1.18 2.85 12% 11% 75.96 49.83 63.29 35.99 65.83 19.29 1.84 0.92 0.99 0.68 166.5

2 Zenith Fibres Ltd. Polypropylene fibre 34.55 33.91 0.74 0.73 3.49 3.45 4.96 3.66 14% 11% 26.54 29.76 12.41 11.43 23.62 29.34 0.5 0.65 6.14 6.92 171.3

3 Link Up Textiles Ltd. Apparels (Readymade garment) 39.54 58.82 0.71 0.75 5.02 5.31 1.61 2.42 4% 4% 38.07 42.7 31.15 27.21 15.45 12.04 5.19 4.68 3.38 5.22 177.4

4 yashasvi yarns Ltd. Partially oriented yarn (POy) 87.15 108.55 0.89 0.92 3.65 3.65 6.54 9.14 8% 8% 84.3 83.99 60.08 40.88 11.51 16.54 2.35 3.05 4.55 5.75 179.5

5 Suditi Industries Ltd. Cloth processed 21.3 23.5 0.60 0.67 0.55 2.86 3.65 24.46 17% 104% 74.25 73.89 157.79 145.08 32.58 27.06 6.89 6.82 0.64 0.5 197.0

6 Asahi Fibres Ltd. Cotton yarn 17.83 23 0.87 0.87 1.40 1.91 1.1 1.51 6% 7% 7.87 10.69 7.14 2.19 4.13 5.17 0.58 0.8 1.09 2.37 197.0

7 Supertex Industries Ltd. Cotton & blended yarn, texturised 17.5 27.87 0.92 0.93 2.04 3.37 1.27 1.25 7% 4% 73.56 77.48 94.9 86.28 9.19 8.2 1.54 1.78 0.65 2.04 204.1

8 Ankita Knit Wear Ltd. Cloth (Fabrics) 45.68 73.83 1.00 0.90 5.08 4.37 1.42 6.16 3% 8% 67.91 61.29 34.92 16.92 37.49 12.7 34.48 8.77 6.32 8.46 210.2

9 Binayak Tex Processors Ltd. Cloth processed 80.07 111.97 0.60 0.65 12.91 10.32 4.79 10.41 6% 9% 80.24 94.95 74.27 69.43 18.62 13.64 9.59 13.49 1.76 4.38 211.4

10 Paras Petrofils Ltd. Polyester filament yarn (PFY) 66.01 90.89 0.82 0.90 0.94 1.54 0.72 6.43 1% 7% 76.35 39.13 17.03 15.96 11.73 6.25 8.45 2.92 14.04 10.06 213.5

11 Deccan Mills Real Estate & Infrastructure Ltd. Cotton & blended yarn 2.49 25.99 0.70 0.81 0.02 0.11 0.54 3.14 22% 12% NA 5.39 12.78 2.6 NA 5.23 NA 3.63 NA 2.19 219.2

12 Surbhi Industries Ltd. Textured yarn of synthetic filament yarn 13.61 16.6 0.83 0.93 1.75 2.20 1.33 1.74 10% 10% 55.14 50.28 39.9 33.1 12.33 15.35 2.69 1.94 4.81 14.09 224.7

13 V G Textiles Pvt. Ltd. Cotton yarn 15.03 15.1 0.72 0.78 3.16 3.84 1.64 0.98 11% 6% NA 17.16 23.22 16.96 NA 6.52 NA 8.38 NA 8.19 230.8

14 Suryalata Spinning Mills Ltd. Cotton & blended yarn 187.99 169.73 0.84 0.90 1.49 1.91 19.14 13.13 10% 8% 34.71 35.19 14.02 24.1 16.47 19.17 3.05 4.18 2.08 8.95 234.1

15 Prakash Woollen Mills Ltd. Blankets & travelling rugs 32.84 42.36 0.69 0.72 1.82 2.22 2.59 3.87 8% 9% 121.65 116.3 20.62 20.4 19.2 19.81 20.66 23.13 7.37 8.39 234.8

16 Usha yarns Ltd. Cotton yarn 16.59 17.4 0.88 0.89 3.32 3.27 1.01 0.96 6% 6% 9.92 11.01 10.08 13.55 26.56 29.46 1.93 2.17 4.28 3.92 237.4

17 Sanghi Polyesters Ltd. Polyester filament yarn (PFY) 593.76 227.24 0.83 0.89 1.25 0.56 150.29 37.77 25% 17% 13.07 30.83 26.44 52.71 6.12 15.88 1.36 3.29 0.66 3.97 242.9

textiles

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers130

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 133: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 131

69 Sturdy Industries Ltd. Tubes, pipes & hoses of poly vinyl chloride 67.03 112.56 1.03 0.83 4.31 5.98 4.78 8.4 7% 7% 65.88 54.01 93.33 75.26 49.13 36.76 4.97 8.39 45.13 27.35 148.1

70 Bajaj Steel Inds. Ltd. Sacks & bags 175.79 188.19 0.75 0.71 8.60 5.62 10.09 17.08 6% 9% 29.54 30.38 58.75 76.3 39.63 46.64 20.56 30.95 10.81 8.17 149.1

71 Caprihans India Ltd. Sheets, films, etc. of plastic, not reinforced 126.92 124.26 0.79 0.87 2.89 3.20 13.18 7.08 10% 6% 100.65 108.18 72.6 66.96 49.66 51.26 4.96 6.68 31.01 33.41 149.2

72 Acrysil Ltd. Tableware, kitchenware, other household 20.08 30.53 0.57 0.51 1.86 1.38 3.36 6.73 17% 22% 167.52 131.65 94.42 84.89 85.41 75.29 36.31 21.23 18.14 22.31 151.0

73 Rishi Packers Ltd. Sacks & bags 29.42 27.38 0.75 0.82 1.47 1.67 3.8 2.06 13% 8% 59.04 60.16 70.39 86.84 37.54 42.76 89.92 94.23 2.12 1.42 152.1

74 Samsonite South Asia Pvt. Ltd. Moulded luggage 247.77 291.76 0.73 0.56 3.20 3.11 48.28 57.39 19% 20% 45.13 50.75 106.78 106.24 53.87 52.74 8.21 7.81 35.96 34.11 153.6

75 Safari Industries (India) Ltd. Moulded luggage 51.26 56.63 0.67 0.76 8.55 11.97 3.17 4.65 6% 8% 79.8 80.45 92 95.08 63.12 65.77 7.92 6.97 60.38 57.38 154.3

76 Innocorp Ltd. Plastic Products 27.8 18.2 0.78 0.77 2.59 1.47 2.1 1.53 8% 8% 134.98 221.74 128.53 177.7 20.9 30.04 27.63 33.44 9.75 16.69 154.8

77 Marvel Vinyls Ltd. Sheets of vinyl chloride 63.15 63.31 0.89 0.91 4.47 4.67 1.83 2.55 3% 4% 52.09 64.69 63.76 63.98 20.67 22.92 33.98 28.43 28.5 28.55 154.8

78 Balmer Lawrie-Van Leer Ltd. Reservoirs, tanks, etc. 102.74 112.32 0.78 0.76 2.12 1.53 11.45 7.86 11% 7% 54.53 58.01 52.23 119.27 48.35 52.39 8.24 9.3 11.72 9.08 157.3

79 Kemrock Industries & Exports Ltd. Other articles of plastics 136.78 219.72 0.61 0.79 0.57 0.73 42.66 70.71 31% 32% 120.79 132.8 160.56 113.31 78.37 81.07 127.35 180.61 4.66 5.33 158.4

80 Glory Polyfilms Ltd. Plastic film 38.14 60.67 0.87 0.82 1.40 0.95 6.9 8.5 18% 14% 119.05 117.86 103.25 123.08 108.94 82.5 72.31 26.5 9.96 8.55 160.9

81 Tainwala Chemicals & Plastics (India) Ltd. Sheets, films, etc. of plastic, not reinforced 14.35 13.36 0.74 0.78 1.52 1.58 2.64 6.47 18% 48% 108.44 76.65 29.16 19.35 87.36 69.35 13.98 29.65 34.75 46.44 161.3

82 National Plastic Technologies Ltd. Plastic Products 26.52 37.86 0.72 0.76 0.96 1.34 4.86 7.05 18% 19% 120.48 96.18 192.44 150.83 54.16 43.73 32.7 34.94 18.57 19.56 164.2

83 Dalmia Laminators Ltd. Sacks & bags of polyethylene 26.19 28.78 0.93 0.98 5.13 2.08 1.07 0.37 4% 1% 37.69 34.88 31.19 47.41 22.36 48.67 47.74 83.15 1.7 3.42 168.0

84 Karur K C P Packkagings Ltd. Sacks & bags of polyethylene 187.21 198.52 0.67 0.55 0.96 0.79 42.59 47.8 23% 24% 100.59 106.08 101.73 102.65 237.02 253.9 58.52 73.98 10.99 12.79 168.7

85 Tokyo Plast International Ltd. Other articles of plastics 17.85 23.53 0.64 0.74 1.25 1.73 2.14 3.21 12% 14% 234.17 176.87 171.41 110.59 36.63 44 97.29 91.04 30.76 30.12 168.7

86 Morgan Industries Ltd. Sheets, films, etc. of plastic, not reinforced 26.13 45.56 0.79 0.77 1.61 1.60 3.02 4.37 12% 10% 175.69 106.3 121.42 92.51 82.62 55.02 36.45 28.12 69.54 31.65 169.8

87 J M G Corporation Ltd. Cellulose adhesive tapes 3.64 30.99 0.56 0.90 0.48 7.16 1.44 1.21 40% 4% 138.12 76.6 114.48 115.08 163.78 154.04 166.45 158.9 7.85 3.26 171.2

88 Shree Rama Multi-Tech Ltd. Other plastic packaging goods 59.4 72.56 0.62 0.56 0.14 0.15 -50.98 -63.5 -86% -88% 91.17 66.68 307.26 653.73 52.22 65.2 16.97 15.03 14.45 10.22 172.1

89 Fancy Fittings Ltd. Plastic Products 36.11 34.83 0.67 0.72 1.35 1.27 8.55 5.17 24% 15% 79.58 77.46 83.42 109.63 55.51 64.79 21.18 28.05 20.94 29.22 173.0

90 Sundek India Ltd. Sheets, films, etc. of plastic, not reinforced 35.43 35.74 0.97 0.85 6.74 6.12 2.87 2.2 8% 6% 38.06 35.12 87.63 99.18 89.47 99.03 3.16 4.36 57.41 67.77 179.8

91 Royal Cushion Vinyl Products Ltd. Floor coverings of plastics 61.43 69.25 1.03 0.80 0.71 0.66 -8.37 3.54 -14% 5% 156.41 136.15 255.18 297.89 68.98 64.84 26.95 32.65 13.38 16.3 186.6

92 Smitabh Intercon Ltd. HDPE bags 18.93 19.96 0.83 0.94 4.20 5.78 1 0.84 5% 4% 54.85 91.75 82.64 130.65 54.98 66.31 18.88 35.6 22.24 21.24 189.7

93 Bloom Dekor Ltd. Sheets, films, etc. of plastic, not reinforced 30 30.8 0.85 0.94 2.33 1.93 2.21 2.38 7% 8% 78.01 78.09 96.32 116.31 109.24 105.51 8.66 9.38 36.19 44.91 191.3

94 Dujodwala Paper Chemicals Ltd. Amino/phenolic resins & polyurethanes 64.82 81.85 1.43 0.86 6.22 2.86 3.98 4.65 6% 6% 53.33 69.38 60.33 117.78 94.73 54.01 61.25 67.69 58.82 81.08 205.8

95 Venlon Enterprises Ltd. Polyester film 47.25 60.26 0.90 1.07 0.35 0.59 2.05 0.89 4% 1% 38.05 23.63 150.29 66.27 56.6 33.62 54.15 39.99 43.5 40.15 206.8

96 Biopac India Corpn. Ltd. Tableware, kitchenware, other household 19.43 20.08 0.64 0.82 0.42 0.65 4.63 7.05 24% 35% 37.79 36.2 246.05 182.66 41.23 64.52 202.02 265.15 58.28 86.02 216.9

1 Uniroyal Industries Ltd. Textile labels, badges, etc. 9.68 26.26 0.54 0.80 0.35 1.48 1.18 2.85 12% 11% 75.96 49.83 63.29 35.99 65.83 19.29 1.84 0.92 0.99 0.68 166.5

2 Zenith Fibres Ltd. Polypropylene fibre 34.55 33.91 0.74 0.73 3.49 3.45 4.96 3.66 14% 11% 26.54 29.76 12.41 11.43 23.62 29.34 0.5 0.65 6.14 6.92 171.3

3 Link Up Textiles Ltd. Apparels (Readymade garment) 39.54 58.82 0.71 0.75 5.02 5.31 1.61 2.42 4% 4% 38.07 42.7 31.15 27.21 15.45 12.04 5.19 4.68 3.38 5.22 177.4

4 yashasvi yarns Ltd. Partially oriented yarn (POy) 87.15 108.55 0.89 0.92 3.65 3.65 6.54 9.14 8% 8% 84.3 83.99 60.08 40.88 11.51 16.54 2.35 3.05 4.55 5.75 179.5

5 Suditi Industries Ltd. Cloth processed 21.3 23.5 0.60 0.67 0.55 2.86 3.65 24.46 17% 104% 74.25 73.89 157.79 145.08 32.58 27.06 6.89 6.82 0.64 0.5 197.0

6 Asahi Fibres Ltd. Cotton yarn 17.83 23 0.87 0.87 1.40 1.91 1.1 1.51 6% 7% 7.87 10.69 7.14 2.19 4.13 5.17 0.58 0.8 1.09 2.37 197.0

7 Supertex Industries Ltd. Cotton & blended yarn, texturised 17.5 27.87 0.92 0.93 2.04 3.37 1.27 1.25 7% 4% 73.56 77.48 94.9 86.28 9.19 8.2 1.54 1.78 0.65 2.04 204.1

8 Ankita Knit Wear Ltd. Cloth (Fabrics) 45.68 73.83 1.00 0.90 5.08 4.37 1.42 6.16 3% 8% 67.91 61.29 34.92 16.92 37.49 12.7 34.48 8.77 6.32 8.46 210.2

9 Binayak Tex Processors Ltd. Cloth processed 80.07 111.97 0.60 0.65 12.91 10.32 4.79 10.41 6% 9% 80.24 94.95 74.27 69.43 18.62 13.64 9.59 13.49 1.76 4.38 211.4

10 Paras Petrofils Ltd. Polyester filament yarn (PFY) 66.01 90.89 0.82 0.90 0.94 1.54 0.72 6.43 1% 7% 76.35 39.13 17.03 15.96 11.73 6.25 8.45 2.92 14.04 10.06 213.5

11 Deccan Mills Real Estate & Infrastructure Ltd. Cotton & blended yarn 2.49 25.99 0.70 0.81 0.02 0.11 0.54 3.14 22% 12% NA 5.39 12.78 2.6 NA 5.23 NA 3.63 NA 2.19 219.2

12 Surbhi Industries Ltd. Textured yarn of synthetic filament yarn 13.61 16.6 0.83 0.93 1.75 2.20 1.33 1.74 10% 10% 55.14 50.28 39.9 33.1 12.33 15.35 2.69 1.94 4.81 14.09 224.7

13 V G Textiles Pvt. Ltd. Cotton yarn 15.03 15.1 0.72 0.78 3.16 3.84 1.64 0.98 11% 6% NA 17.16 23.22 16.96 NA 6.52 NA 8.38 NA 8.19 230.8

14 Suryalata Spinning Mills Ltd. Cotton & blended yarn 187.99 169.73 0.84 0.90 1.49 1.91 19.14 13.13 10% 8% 34.71 35.19 14.02 24.1 16.47 19.17 3.05 4.18 2.08 8.95 234.1

15 Prakash Woollen Mills Ltd. Blankets & travelling rugs 32.84 42.36 0.69 0.72 1.82 2.22 2.59 3.87 8% 9% 121.65 116.3 20.62 20.4 19.2 19.81 20.66 23.13 7.37 8.39 234.8

16 Usha yarns Ltd. Cotton yarn 16.59 17.4 0.88 0.89 3.32 3.27 1.01 0.96 6% 6% 9.92 11.01 10.08 13.55 26.56 29.46 1.93 2.17 4.28 3.92 237.4

17 Sanghi Polyesters Ltd. Polyester filament yarn (PFY) 593.76 227.24 0.83 0.89 1.25 0.56 150.29 37.77 25% 17% 13.07 30.83 26.44 52.71 6.12 15.88 1.36 3.29 0.66 3.97 242.9

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 134: Reinventing the Supply Chain

18 Mayur Uniquoters Ltd. Other coated / laminated textile fabrics 66.63 90.7 0.35 0.31 1.41 1.31 6.23 10.21 9% 11% 81.68 69.43 82.31 85.83 40.43 26.64 7.98 9.81 6 4.2 246.1

19 Tamarai Mills Ltd. Cloth (Fabrics) 16.74 12.81 0.68 0.75 0.87 0.99 3.17 153.78 19% 1200% 35.98 84.23 31.28 36.62 29.38 30.93 6.38 5.44 9.29 22.67 252.7

20 Woolways (India) Ltd. Knitted / crocheted fabrics 42.74 56.89 0.69 0.74 8.56 9.68 0.21 1.66 0% 3% 79.56 63.25 62.18 44.77 63.43 45.03 13.18 7.65 7.08 5.2 253.6

21 Arora Fashions Ltd. Apparels - knitted / crocheted 113.67 113.93 0.78 0.72 4.69 4.71 7.81 10.79 7% 9% 50.19 55.82 77.31 63.99 13.94 12.54 18.05 23.85 1.29 1.1 254.8

22 Hisar Spinning Mills Ltd. Cotton yarn 16.63 15.14 0.91 0.92 12.90 10.72 0.66 0.55 4% 4% 11.51 17.12 21.46 31.99 27.15 30.35 1.64 1.66 3.67 5.55 256.3

23 Suryajyoti Spinning Mills Ltd. Cotton yarn 161.88 205.73 0.81 0.77 1.03 0.92 22.6 26.09 14% 13% 53.45 49.08 28.64 32.54 39.88 45.59 5.78 5.69 4.55 6.53 257.5

24 Winsome International Ltd. Jute & jute products 69.3 73.01 0.76 0.77 1.93 2.09 4.17 4.97 6% 7% NA 32.94 63.72 45.08 NA 32.28 NA 4.01 NA 7.55 257.5

25 Ambadi Enterprises Ltd. Cloth (Fabrics) 55.03 56.76 0.55 0.59 5.51 3.90 3.44 4.51 6% 8% 53.84 53.6 43.33 42.45 40.46 42.82 2.1 2.18 21.96 23.97 267.2

26 Sanrhea Technical Textiles Ltd. Cloth (Fabrics) 7.48 11.22 0.74 0.83 1.34 2.39 0.76 1.15 10% 10% 72.5 65.77 29.82 17.99 75.89 50.33 5.74 9.64 4.5 6.46 267.3

27 Mangalam Ventures Ltd. Apparels - knitted / crocheted 30.41 30.34 0.54 0.59 1.50 1.71 2.97 2.92 10% 10% 38.13 17.76 35.3 17.92 30.98 24.89 23.22 19.82 9.42 0.25 268.6

28 Caledonian Jute & Inds. Ltd. Jute & jute products 73.77 98.83 0.79 0.76 10.01 8.47 3 7.58 4% 8% 14.9 14.36 130.25 87.61 31.37 21.04 9.28 6.3 7 3.33 270.7

29 Jagannath Textiles Co. Ltd. Textiles 173.49 297.54 0.90 0.82 0.77 1.22 32.27 20.59 19% 7% 46.61 27.75 26.74 12.7 47.61 21.11 2.43 3.23 26.92 17.09 270.8

30 Raghuvir Synthetics Ltd. Cloth processed 41.35 43.92 0.69 0.71 1.01 1.24 6.22 5.65 15% 13% 53.32 47.83 98.46 98.43 22.14 20.7 9.33 10.4 4.51 3.48 271.3

31 Amit Spinning Inds. Ltd. Cotton yarn 70.02 81.91 0.77 0.82 0.93 1.23 9.66 7.39 14% 9% 50.79 73.97 60.18 72.26 104 47.47 4.54 3.45 6.93 5.16 272.5

32 Sona Processors (India) Ltd. Cloth processed 24.12 25.69 0.68 0.73 1.79 2.11 2.9 2.77 12% 11% 73.76 77.15 37.9 29.8 60.78 50.36 5.36 5.5 20.81 19.11 273.3

33 Nachmo Knitex Ltd. Knitted / crocheted fabrics 66.46 47.66 0.84 0.79 2.64 3.25 -0.21 -24.98 0% -52% 124.05 116.63 58.88 73.03 51.37 47.45 2.56 2.77 5.03 9.37 273.7

34 Navsari Cotton & Silk Mills Ltd. Cotton & blended yarn 15.25 12.37 0.87 0.90 4.84 4.78 28.09 1.6 184% 13% 38.59 56.72 250.48 246.61 22.94 14.66 14.48 10.21 2.18 4.55 276.4

35 Bhilwara Spinners Ltd. Cotton & blended yarn 95.68 86.71 0.84 0.85 2.75 2.87 6.68 7.15 7% 8% 17.7 29.48 25.06 28.57 20.68 23.98 10.28 9.94 8.47 8.44 281.8

36 Mothi Spinner Ltd. Synthetic filament yarn other than sewing 66.43 82.59 0.79 0.84 0.93 1.27 12.38 12.49 19% 15% 50.06 48.27 48.37 47.93 23.58 20.86 10.79 8.26 8.31 13.13 283.8

37 Arjay Apparel Industries Ltd. Apparels (Readymade garment) 11.88 13.51 0.76 0.88 14.35 22.34 0.42 0.4 4% 3% 48.69 56.03 44.46 37.41 66.99 69.95 0.8 1.45 19.01 9.36 285.4

38 Balaji Filaments Ltd. Synthetic filament yarn other than sewing 40 46.54 0.89 0.90 5.62 3.98 2.16 2.9 5% 6% 62.26 96.38 23 29.96 18.39 20.92 9.23 12.34 13.34 17.38 289.7

39 Anjani Synthetics Ltd. Cloth (Fabrics) 114.67 195.63 0.90 0.89 7.33 11.86 7.43 11.49 6% 6% 61.97 72.99 66.94 54.59 34.38 22.65 10.34 7.66 13.83 17.28 290.6

40 Everlon Synthetics Ltd. Textured yarn of synthetic filament yarn 14.45 15.92 0.86 0.90 8.64 4.00 0.24 0.59 2% 4% 13.39 14.7 24.35 43.65 11.62 14 4.5 6.98 8.7 7.91 290.7

41 Shamken Spinners Ltd. Cotton & blended yarn 53.48 28.57 0.91 1.05 0.28 0.18 -1.47 -5.94 -3% -21% 5.36 6.18 29.95 20.93 7.98 8.6 2.95 2.72 7.48 4.17 292.3

42 Lambodhara Textiles Ltd. Cotton yarn 26.71 32.77 0.81 0.93 2.10 2.24 2.77 3.89 10% 12% 67.12 68.46 53.61 18.08 14.51 14.71 6.24 9.61 24.46 31.72 292.8

43 Jamshri Ranjitsinghji Spg. & Wvg. Mills Co. Ltd. Cotton & blended yarn 43.08 47.71 0.89 0.98 9.43 13.78 1.48 2.34 3% 5% 19.31 16.16 93.69 110.41 2.13 1.48 8.22 7.04 2.26 2.88 296.4

44 Pasari Spinning Mills Ltd. Cotton yarn 18.89 18.14 0.85 0.99 6.37 6.09 1.91 -0.62 10% -3% 32.8 52.69 20.57 37.19 39.76 48.48 4.61 7.2 3.27 6.23 304.2

45 Reliance Jute Mills (International) Ltd. Jute & jute products 94.5 164.84 0.76 0.70 2.19 2.57 2.04 8.84 2% 5% 21.16 13.49 77.28 28.11 51.53 38.15 15.81 7.91 20.32 10.41 307.0

46 Entremonde Polyecoaters Ltd. Coated / laminated textile fabrics 27.28 32.87 0.81 0.84 7.13 9.05 2.03 2.37 7% 7% 51.95 53.41 37.45 44.94 49.68 54.13 9.07 10.93 4.79 5.24 307.6

47 Blue Blends (India) Ltd. Cotton & blended yarn, texturised 124.67 121 0.69 0.78 0.96 1.13 11.85 2.59 10% 2% 66.71 61.54 93.65 82.29 12.89 10.39 11.68 8.94 13.98 11.81 307.7

48 Auckland International Ltd. Plastic coated / polyethylene jute bags 64.95 84.85 0.69 0.79 3.24 4.82 1.36 3.33 2% 4% 25.51 14.2 44.92 41.71 40.2 42.8 4.84 3.49 19.67 10.59 308.9

49 Vippy Spinpro Ltd. Cotton yarn 38.44 39.5 0.81 0.81 1.86 1.96 4.34 4.67 11% 12% 28.13 36.01 12.35 20.33 109.49 116.24 2.08 1.82 6.1 12.65 309.4

50 Mid India Inds. Ltd. Cotton & blended yarn 16.55 20.26 0.86 0.89 3.32 3.22 1.06 1.26 6% 6% 27.57 37.17 45.57 37.61 20.03 17.84 5.83 11.06 10.87 13.91 310.8

51 Aarti International Ltd. Cotton yarn 276.56 283.83 0.70 0.72 0.86 0.64 91.48 51.33 33% 18% 72.73 79.34 19 20.67 197.75 234.94 5.49 8.04 4.89 6.47 310.9

52 Sri Kannapiran Mills Ltd. Cotton & blended yarn 167.99 163.8 0.73 0.79 1.43 1.60 23.6 15.3 14% 9% 48.08 58.87 44.09 67.93 51.57 32.3 2.76 3.49 22.38 23.63 311.9

53 Cardwell Spinning Mills Ltd. Blended yarn 13.13 11.62 0.61 0.72 5.63 2.43 0.77 1.15 6% 10% 28.26 30.71 28.51 27.35 19.39 16.59 6.14 9.56 46.26 34.25 312.1

54 Deepak Cosmo Ltd. Wool & woollen textiles 30.6 39.94 0.78 1.00 3.09 5.48 2.01 2.08 7% 5% NA 63.73 20.76 22.49 NA 43.15 NA 7.93 NA 16.84 312.8

55 Northbrook Jute Co. Ltd. Jute & jute products 85.5 106.87 0.82 0.91 2.27 2.83 1.51 -2.47 2% -2% 13.7 17.04 122.77 76.3 49.07 33.66 2.92 2.33 5.13 2.16 313.1

56 Govardhan Spinners Ltd. Cotton yarn 8.4 10.76 1.03 0.69 1.67 1.55 0.41 0.26 5% 2% 67.13 60.89 30.25 13.67 70.79 63.55 7.25 7.15 21.68 16.37 314.2

57 Vardhman Acrylics Ltd. Acrylic fibre 197.69 211.15 0.77 0.73 1.04 1.13 38.57 31.56 20% 15% 3.87 2.83 22.18 14.36 59.03 57 5.34 4.25 24.05 14.5 314.6

58 Poddar Developers Ltd. Apparels (Readymade garment) 37.79 46.89 0.24 0.18 3.87 2.79 25.08 31.63 66% 67% 51.26 53.06 144.22 251.67 61.09 34.87 51.56 37.1 4.55 2.43 314.7

59 Sri Venkatesa Mills Ltd. Cotton & blended yarn 6.97 13.13 0.44 0.71 0.62 2.04 3.2 3.29 46% 25% 38.28 9.86 494.78 140.68 234.64 21.96 15.55 9.4 8.84 9.25 316.7

60 C T Cotton yarn Ltd. Cotton yarn 24.73 18.83 0.90 0.89 0.75 0.66 -3.4 -1.64 -14% -9% 45.02 10.76 66.8 42.34 33.7 21.04 4.3 2.99 13.48 5.43 317.2

61 Gemini Dyeing & Printing Mills Ltd. Cloth processed 25.89 24.05 0.73 0.75 1.08 0.96 3.11 2.83 12% 12% 98.54 124.37 134.87 184.63 178.12 190.53 2.26 2.41 0 0.89 318.3

62 Jattashankar Industries Ltd. Textured yarn of synthetic filament yarn 6.84 11.27 0.58 0.66 2.46 6.99 1.32 1.07 19% 9% NA 13.07 25.15 37.8 NA 10.69 NA 16.72 NA 17.77 319.0

63 Raj Rayon Ltd. Textured yarn of synthetic filament yarn 265.49 282.88 0.90 0.86 1.72 1.66 28.37 34.4 11% 12% 45.97 50.21 55.54 45.25 15.05 13.78 13.09 17.51 9.38 13.74 321.0

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers132

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 135: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 133

18 Mayur Uniquoters Ltd. Other coated / laminated textile fabrics 66.63 90.7 0.35 0.31 1.41 1.31 6.23 10.21 9% 11% 81.68 69.43 82.31 85.83 40.43 26.64 7.98 9.81 6 4.2 246.1

19 Tamarai Mills Ltd. Cloth (Fabrics) 16.74 12.81 0.68 0.75 0.87 0.99 3.17 153.78 19% 1200% 35.98 84.23 31.28 36.62 29.38 30.93 6.38 5.44 9.29 22.67 252.7

20 Woolways (India) Ltd. Knitted / crocheted fabrics 42.74 56.89 0.69 0.74 8.56 9.68 0.21 1.66 0% 3% 79.56 63.25 62.18 44.77 63.43 45.03 13.18 7.65 7.08 5.2 253.6

21 Arora Fashions Ltd. Apparels - knitted / crocheted 113.67 113.93 0.78 0.72 4.69 4.71 7.81 10.79 7% 9% 50.19 55.82 77.31 63.99 13.94 12.54 18.05 23.85 1.29 1.1 254.8

22 Hisar Spinning Mills Ltd. Cotton yarn 16.63 15.14 0.91 0.92 12.90 10.72 0.66 0.55 4% 4% 11.51 17.12 21.46 31.99 27.15 30.35 1.64 1.66 3.67 5.55 256.3

23 Suryajyoti Spinning Mills Ltd. Cotton yarn 161.88 205.73 0.81 0.77 1.03 0.92 22.6 26.09 14% 13% 53.45 49.08 28.64 32.54 39.88 45.59 5.78 5.69 4.55 6.53 257.5

24 Winsome International Ltd. Jute & jute products 69.3 73.01 0.76 0.77 1.93 2.09 4.17 4.97 6% 7% NA 32.94 63.72 45.08 NA 32.28 NA 4.01 NA 7.55 257.5

25 Ambadi Enterprises Ltd. Cloth (Fabrics) 55.03 56.76 0.55 0.59 5.51 3.90 3.44 4.51 6% 8% 53.84 53.6 43.33 42.45 40.46 42.82 2.1 2.18 21.96 23.97 267.2

26 Sanrhea Technical Textiles Ltd. Cloth (Fabrics) 7.48 11.22 0.74 0.83 1.34 2.39 0.76 1.15 10% 10% 72.5 65.77 29.82 17.99 75.89 50.33 5.74 9.64 4.5 6.46 267.3

27 Mangalam Ventures Ltd. Apparels - knitted / crocheted 30.41 30.34 0.54 0.59 1.50 1.71 2.97 2.92 10% 10% 38.13 17.76 35.3 17.92 30.98 24.89 23.22 19.82 9.42 0.25 268.6

28 Caledonian Jute & Inds. Ltd. Jute & jute products 73.77 98.83 0.79 0.76 10.01 8.47 3 7.58 4% 8% 14.9 14.36 130.25 87.61 31.37 21.04 9.28 6.3 7 3.33 270.7

29 Jagannath Textiles Co. Ltd. Textiles 173.49 297.54 0.90 0.82 0.77 1.22 32.27 20.59 19% 7% 46.61 27.75 26.74 12.7 47.61 21.11 2.43 3.23 26.92 17.09 270.8

30 Raghuvir Synthetics Ltd. Cloth processed 41.35 43.92 0.69 0.71 1.01 1.24 6.22 5.65 15% 13% 53.32 47.83 98.46 98.43 22.14 20.7 9.33 10.4 4.51 3.48 271.3

31 Amit Spinning Inds. Ltd. Cotton yarn 70.02 81.91 0.77 0.82 0.93 1.23 9.66 7.39 14% 9% 50.79 73.97 60.18 72.26 104 47.47 4.54 3.45 6.93 5.16 272.5

32 Sona Processors (India) Ltd. Cloth processed 24.12 25.69 0.68 0.73 1.79 2.11 2.9 2.77 12% 11% 73.76 77.15 37.9 29.8 60.78 50.36 5.36 5.5 20.81 19.11 273.3

33 Nachmo Knitex Ltd. Knitted / crocheted fabrics 66.46 47.66 0.84 0.79 2.64 3.25 -0.21 -24.98 0% -52% 124.05 116.63 58.88 73.03 51.37 47.45 2.56 2.77 5.03 9.37 273.7

34 Navsari Cotton & Silk Mills Ltd. Cotton & blended yarn 15.25 12.37 0.87 0.90 4.84 4.78 28.09 1.6 184% 13% 38.59 56.72 250.48 246.61 22.94 14.66 14.48 10.21 2.18 4.55 276.4

35 Bhilwara Spinners Ltd. Cotton & blended yarn 95.68 86.71 0.84 0.85 2.75 2.87 6.68 7.15 7% 8% 17.7 29.48 25.06 28.57 20.68 23.98 10.28 9.94 8.47 8.44 281.8

36 Mothi Spinner Ltd. Synthetic filament yarn other than sewing 66.43 82.59 0.79 0.84 0.93 1.27 12.38 12.49 19% 15% 50.06 48.27 48.37 47.93 23.58 20.86 10.79 8.26 8.31 13.13 283.8

37 Arjay Apparel Industries Ltd. Apparels (Readymade garment) 11.88 13.51 0.76 0.88 14.35 22.34 0.42 0.4 4% 3% 48.69 56.03 44.46 37.41 66.99 69.95 0.8 1.45 19.01 9.36 285.4

38 Balaji Filaments Ltd. Synthetic filament yarn other than sewing 40 46.54 0.89 0.90 5.62 3.98 2.16 2.9 5% 6% 62.26 96.38 23 29.96 18.39 20.92 9.23 12.34 13.34 17.38 289.7

39 Anjani Synthetics Ltd. Cloth (Fabrics) 114.67 195.63 0.90 0.89 7.33 11.86 7.43 11.49 6% 6% 61.97 72.99 66.94 54.59 34.38 22.65 10.34 7.66 13.83 17.28 290.6

40 Everlon Synthetics Ltd. Textured yarn of synthetic filament yarn 14.45 15.92 0.86 0.90 8.64 4.00 0.24 0.59 2% 4% 13.39 14.7 24.35 43.65 11.62 14 4.5 6.98 8.7 7.91 290.7

41 Shamken Spinners Ltd. Cotton & blended yarn 53.48 28.57 0.91 1.05 0.28 0.18 -1.47 -5.94 -3% -21% 5.36 6.18 29.95 20.93 7.98 8.6 2.95 2.72 7.48 4.17 292.3

42 Lambodhara Textiles Ltd. Cotton yarn 26.71 32.77 0.81 0.93 2.10 2.24 2.77 3.89 10% 12% 67.12 68.46 53.61 18.08 14.51 14.71 6.24 9.61 24.46 31.72 292.8

43 Jamshri Ranjitsinghji Spg. & Wvg. Mills Co. Ltd. Cotton & blended yarn 43.08 47.71 0.89 0.98 9.43 13.78 1.48 2.34 3% 5% 19.31 16.16 93.69 110.41 2.13 1.48 8.22 7.04 2.26 2.88 296.4

44 Pasari Spinning Mills Ltd. Cotton yarn 18.89 18.14 0.85 0.99 6.37 6.09 1.91 -0.62 10% -3% 32.8 52.69 20.57 37.19 39.76 48.48 4.61 7.2 3.27 6.23 304.2

45 Reliance Jute Mills (International) Ltd. Jute & jute products 94.5 164.84 0.76 0.70 2.19 2.57 2.04 8.84 2% 5% 21.16 13.49 77.28 28.11 51.53 38.15 15.81 7.91 20.32 10.41 307.0

46 Entremonde Polyecoaters Ltd. Coated / laminated textile fabrics 27.28 32.87 0.81 0.84 7.13 9.05 2.03 2.37 7% 7% 51.95 53.41 37.45 44.94 49.68 54.13 9.07 10.93 4.79 5.24 307.6

47 Blue Blends (India) Ltd. Cotton & blended yarn, texturised 124.67 121 0.69 0.78 0.96 1.13 11.85 2.59 10% 2% 66.71 61.54 93.65 82.29 12.89 10.39 11.68 8.94 13.98 11.81 307.7

48 Auckland International Ltd. Plastic coated / polyethylene jute bags 64.95 84.85 0.69 0.79 3.24 4.82 1.36 3.33 2% 4% 25.51 14.2 44.92 41.71 40.2 42.8 4.84 3.49 19.67 10.59 308.9

49 Vippy Spinpro Ltd. Cotton yarn 38.44 39.5 0.81 0.81 1.86 1.96 4.34 4.67 11% 12% 28.13 36.01 12.35 20.33 109.49 116.24 2.08 1.82 6.1 12.65 309.4

50 Mid India Inds. Ltd. Cotton & blended yarn 16.55 20.26 0.86 0.89 3.32 3.22 1.06 1.26 6% 6% 27.57 37.17 45.57 37.61 20.03 17.84 5.83 11.06 10.87 13.91 310.8

51 Aarti International Ltd. Cotton yarn 276.56 283.83 0.70 0.72 0.86 0.64 91.48 51.33 33% 18% 72.73 79.34 19 20.67 197.75 234.94 5.49 8.04 4.89 6.47 310.9

52 Sri Kannapiran Mills Ltd. Cotton & blended yarn 167.99 163.8 0.73 0.79 1.43 1.60 23.6 15.3 14% 9% 48.08 58.87 44.09 67.93 51.57 32.3 2.76 3.49 22.38 23.63 311.9

53 Cardwell Spinning Mills Ltd. Blended yarn 13.13 11.62 0.61 0.72 5.63 2.43 0.77 1.15 6% 10% 28.26 30.71 28.51 27.35 19.39 16.59 6.14 9.56 46.26 34.25 312.1

54 Deepak Cosmo Ltd. Wool & woollen textiles 30.6 39.94 0.78 1.00 3.09 5.48 2.01 2.08 7% 5% NA 63.73 20.76 22.49 NA 43.15 NA 7.93 NA 16.84 312.8

55 Northbrook Jute Co. Ltd. Jute & jute products 85.5 106.87 0.82 0.91 2.27 2.83 1.51 -2.47 2% -2% 13.7 17.04 122.77 76.3 49.07 33.66 2.92 2.33 5.13 2.16 313.1

56 Govardhan Spinners Ltd. Cotton yarn 8.4 10.76 1.03 0.69 1.67 1.55 0.41 0.26 5% 2% 67.13 60.89 30.25 13.67 70.79 63.55 7.25 7.15 21.68 16.37 314.2

57 Vardhman Acrylics Ltd. Acrylic fibre 197.69 211.15 0.77 0.73 1.04 1.13 38.57 31.56 20% 15% 3.87 2.83 22.18 14.36 59.03 57 5.34 4.25 24.05 14.5 314.6

58 Poddar Developers Ltd. Apparels (Readymade garment) 37.79 46.89 0.24 0.18 3.87 2.79 25.08 31.63 66% 67% 51.26 53.06 144.22 251.67 61.09 34.87 51.56 37.1 4.55 2.43 314.7

59 Sri Venkatesa Mills Ltd. Cotton & blended yarn 6.97 13.13 0.44 0.71 0.62 2.04 3.2 3.29 46% 25% 38.28 9.86 494.78 140.68 234.64 21.96 15.55 9.4 8.84 9.25 316.7

60 C T Cotton yarn Ltd. Cotton yarn 24.73 18.83 0.90 0.89 0.75 0.66 -3.4 -1.64 -14% -9% 45.02 10.76 66.8 42.34 33.7 21.04 4.3 2.99 13.48 5.43 317.2

61 Gemini Dyeing & Printing Mills Ltd. Cloth processed 25.89 24.05 0.73 0.75 1.08 0.96 3.11 2.83 12% 12% 98.54 124.37 134.87 184.63 178.12 190.53 2.26 2.41 0 0.89 318.3

62 Jattashankar Industries Ltd. Textured yarn of synthetic filament yarn 6.84 11.27 0.58 0.66 2.46 6.99 1.32 1.07 19% 9% NA 13.07 25.15 37.8 NA 10.69 NA 16.72 NA 17.77 319.0

63 Raj Rayon Ltd. Textured yarn of synthetic filament yarn 265.49 282.88 0.90 0.86 1.72 1.66 28.37 34.4 11% 12% 45.97 50.21 55.54 45.25 15.05 13.78 13.09 17.51 9.38 13.74 321.0

te

xt

ile

sRank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 136: Reinventing the Supply Chain

64 Shree Bharani Spinnings (India) Ltd. High tenacity yarn of viscose rayon 18.68 22.12 0.75 0.78 1.55 1.93 2.65 2.39 14% 11% 15.05 19.07 33.37 20.91 20.24 22.33 13.1 13.65 17.34 15.1 321.4

65 Arora Fibres Ltd. Polypropylene fibre 18.97 14.27 0.72 0.97 1.41 2.82 1.63 -4.28 9% -30% 30.51 33.09 18.24 16.26 18.95 20.63 1.62 1.39 33.62 38.87 323.1

66 Welspun Syntex Ltd. Polyester filament yarn (PFY) 269.61 281.37 0.76 0.81 1.93 2.12 -41.98 14.9 -16% 5% 25.32 27.94 43.69 65.44 28.38 22.6 1.67 3.27 17.17 19.96 324.1

67 Arex Industries Ltd. Textile labels, badges, etc. 14.15 16.16 0.43 0.45 0.28 0.37 5.18 5.7 37% 35% 84.75 85.49 90.43 18.1 135.09 109.58 16.92 12.82 6.65 12.49 324.9

68 Modern Denim Ltd. Cloth (Fabrics) 78.99 57.11 0.82 0.95 1.13 1.37 -8.21 29.33 -10% 51% 54.1 62.9 48.7 56.81 24.01 24.85 8.02 9.52 32.87 20.94 325.1

69 Maris Spinners Ltd. Cotton yarn 67.31 66.16 0.74 0.75 1.54 1.60 11.97 7.82 18% 12% 40.25 54.68 41.75 36.38 149.84 157.73 5.32 5.47 12.7 11.63 326.4

70 Sree Jayalakshmi Autospin Ltd. Cotton yarn 9.26 11.92 0.80 0.54 2.75 2.63 0.59 0.3 6% 3% 60.83 59.25 74.93 86.18 38.29 70.11 2.92 3.41 19.65 13.48 326.6

71 Damodar Threads Ltd. Cotton & blended yarn, processed 63.05 176.85 0.75 0.90 0.97 1.96 4.55 14.38 7% 8% 61.96 33.66 13.24 23.55 24.94 33.94 6.71 14.39 15.21 7.12 327.8

72 Sangeeth Textiles Ltd. Cotton yarn 60.01 68.72 0.87 0.69 1.17 1.14 13.01 10.28 22% 15% 37.87 20.27 67.41 54.08 47.53 32.07 5.39 5.01 20.62 22.77 328.3

73 Swastik Spintex Ltd. Cotton yarn 12.74 11.7 0.88 0.96 4.08 4.43 1.12 0.36 9% 3% 16.03 6.31 16.46 19.88 27.85 21.79 2.27 4.27 13.59 22.3 330.4

74 Salona Cotspin Ltd. Cotton yarn 41.24 46.22 0.76 0.78 1.11 1.05 9.08 7.39 22% 16% 48.61 46.95 13.98 14.71 110.41 90.38 4.04 7.78 9.42 15.14 331.2

75 Kadri Mills (Cbe) Ltd. Cotton yarn 155.17 142.52 0.81 0.85 2.32 1.35 12.14 7.38 8% 5% 35.17 29.21 10.58 15.85 53.7 45.92 7.06 8.87 6.45 9.04 331.3

76 Venus Garments (India) Ltd. Apparels (Readymade garment) 174.57 189.03 0.66 0.79 10.80 5.74 6.87 9.87 4% 5% 10.05 8.57 24.8 16.96 38.18 17.75 21.54 21.78 10.87 12.78 332.3

77 Oswal Spinning & Wvg. Mills Ltd. Cotton yarn 78.59 67.14 0.75 0.79 1.50 1.47 11.92 6.26 15% 9% 69.57 78.1 59.6 95.67 32.11 31.95 9.01 9.9 9.94 13.8 332.3

78 East India Commercial Co. Ltd. Jute & jute products 161.4 146.73 0.68 0.72 3.12 2.40 16.52 16.03 10% 11% 14.75 15.49 25.51 29.72 62.76 77.8 6.53 7.38 10.26 9.61 333.3

79 Jindal Texofab Ltd. Cloth (Fabrics) 24.76 50.27 0.59 0.79 1.21 3.17 3.01 2.64 12% 5% 77.59 29.98 209.51 212.93 60.99 19.95 3.03 1.3 11.83 24.33 334.2

80 Bhaval Synthetics (India) Ltd. Synthetic filament yarn other than sewing 9.42 19.67 0.70 0.87 0.24 0.67 1.53 0.66 16% 3% 13.02 12.43 229.81 131.15 130.36 8.91 0 5.75 0.23 1.81 336.3

81 Cheviot Co. Ltd. Jute yarn 160.62 183.78 0.61 0.66 1.38 1.14 32.4 34.03 20% 19% 22.61 19.41 15.47 30.64 62.11 67.65 7.48 6.31 14.29 16.95 338.0

82 Cheema Spintex Ltd. Cotton yarn 94.42 82.34 0.74 0.83 1.39 1.41 12.36 2.38 13% 3% 68.97 73.48 40.63 54.94 91.01 94.46 5.88 6.24 3.02 3.37 338.1

83 Selvaraja Mills Pvt. Ltd. Cotton yarn 21.84 15.95 0.75 0.85 2.75 2.30 1.71 1.18 8% 7% 17.92 21.34 22.25 33.1 49.21 68.12 6.33 6.83 6.68 6.57 338.1

84 Subhash Polytex Ltd. Acrylic filament yarn (AFY) 25.3 30.78 0.85 0.90 4.56 5.78 0.84 1.16 3% 4% 46.45 26.98 77.47 35 39.2 35.85 3.87 3.35 14.03 24.05 339.0

85 Palani Andavar Cotton & Synthetic Spinners Cotton yarn 11.1 16.59 0.72 0.84 0.46 0.85 1.73 1.4 16% 8% 25.21 23.4 268.45 177.96 80.38 38.17 3.62 3.41 4.09 4.04 339.5

86 S T I India Ltd. Cotton yarn 155.64 159.97 0.77 0.91 0.88 1.19 115.77 -5.42 74% -3% 17.87 11.78 46.44 69.76 51.51 27.09 4.73 4.25 3.68 4.19 340.9

87 G P I Textiles Ltd. Cotton yarn 252.84 213.24 0.75 0.85 0.61 0.91 32.17 14.84 13% 7% 12.88 22.34 104.24 109.3 14.58 20.46 5.39 6.3 4.66 7.85 341.1

88 Naihati Jute Mills Co. Ltd. Jute & jute products 86.97 104.9 0.78 0.84 9.59 12.62 1.59 2.94 2% 3% 10.49 7.29 53.91 56.1 37.26 34.96 12.84 8.65 10.84 5.26 342.1

89 Sportking India Ltd. Acrylic filament yarn (AFY) 200.68 238.63 0.78 0.82 1.30 1.73 29.12 26.53 15% 11% 52.19 46.98 79.98 44.86 85.52 94.19 5.69 5.45 9.46 12.76 342.6

90 Acknit Industries Ltd. Gloves, mittens, etc. knitted or crocheted 33.96 44.83 0.69 0.77 1.58 2.02 4.67 4.54 14% 10% 49.62 49.83 25.98 28.22 65.23 62.85 7.29 11.8 10.4 15.04 342.7

91 Kewal Kiran Clothing Ltd. Apparels (Readymade garment) 141 168.18 0.54 0.49 2.50 2.19 32.52 38.45 23% 23% 52 65.6 34.85 47.5 22.22 18.22 28.14 29.15 27.83 39.72 343.5

92 Kamarhatty Co. Ltd. Jute & jute products 94.79 109.64 0.74 0.82 2.91 3.31 4.22 5.2 4% 5% 31.19 25.29 87.88 66.02 41.47 34.24 8.1 6.7 18.88 13.09 344.6

93 Hindoostan Spinning & Wvg. Mills Ltd. Cloth (Fabrics) 61 55.48 0.82 0.92 3.67 4.22 3.55 -0.57 6% -1% 373.83 323.29 99.69 45.1 28.65 33.37 9.86 12.44 12.35 18.85 345.6

94 Premco Global Ltd. Rubberised textile fabrics (elastic tapes) 23.13 24.73 0.72 0.67 1.62 1.63 1.91 1.98 8% 8% 61.07 55.88 39.9 51.82 71.87 76.77 5.51 3.72 30.29 23.24 347.3

95 Madanapalle Spinning Mills Ltd. Cotton & blended yarn 44.67 49.63 0.81 0.83 3.40 3.32 4.94 1.58 11% 3% 36.78 43.2 85.64 59.45 33.59 26.11 10.74 13.24 12.16 12.84 349.3

96 Pasupati Spinning & Wvg. Mills Ltd. Synthetic filament yarn other than sewing 158.01 138.69 0.71 0.71 1.67 1.55 30.63 11.49 19% 8% 81.73 83.79 65.06 72.43 22.52 18.98 9.75 9.51 38.85 45.99 349.7

97 Katare Spinning Mills Ltd. Cotton yarn 21.12 22.09 0.79 0.79 0.79 0.88 3.02 2.48 14% 11% 12.01 13.03 62.23 62.19 28.62 17.78 3.97 7.42 22.48 17.5 350.0

98 Emtex Industries (India) Ltd. Cloth processed 48.17 43.13 0.83 1.02 4.22 5.43 -1.58 -6.8 -3% -16% 324 255.17 289.31 299.73 14.48 20.05 20.15 20.71 8.07 6.89 350.3

99 Uniworth Ltd. Wool yarn 100.04 165.01 0.82 0.81 0.95 1.70 11.55 21.62 12% 13% 1513.7 1110.11 1192.01 813.84 44.06 25.02 39.49 30.54 12.12 10.83 352.7

100 R M Mohite Textiles Ltd. Cotton yarn 100.58 106.14 0.80 0.79 1.30 0.94 17.46 16.84 17% 16% 59.27 69.45 13.13 34.08 58.1 42.53 9.32 15.78 12.57 20.56 356.4

101 Integra Apparels & Textiles Pvt. Ltd. Apparels (Readymade garment) 43.53 76.09 0.82 0.78 1.94 1.81 4.96 5.59 11% 7% 48.69 50.05 82.6 50.96 40.86 27.85 5.13 11.64 26.78 24.07 356.8

102 Shiva Texyarn Ltd. Cotton yarn 99.25 96.15 0.65 0.66 0.52 0.47 28.49 22.96 29% 24% 22.08 27.69 39.16 25.41 222.75 167.24 5.34 6.47 8.56 11.75 358.0

103 Bhandari Hosiery Exports Ltd. Apparels - knitted / crocheted 65.39 75.06 0.74 0.83 5.40 6.03 3.92 4.57 6% 6% 25.29 27.69 26.74 25.81 19.01 30.43 29.02 57.1 6.69 8.4 359.0

104 Sarla Performance Fibres Ltd. Textured yarn of synthetic filament yarn 101.45 112.81 0.64 0.63 1.70 1.38 18.47 20.29 18% 18% 86.24 94.16 81.98 79.76 42.28 58.55 12.53 15.36 22.43 17 359.4

105 Jasch Industries Ltd. Coated / laminated textile fabrics 34.97 41.54 0.78 0.79 1.69 1.75 4.08 5.18 12% 12% 75.41 78.42 56.93 59.03 68.44 72.29 16.29 13.54 12.47 10.07 359.6

106 Ankur Udyog Ltd. Textured yarn of synthetic filament yarn 133.11 120.85 0.99 1.07 1.38 1.44 7.5 12.33 6% 10% 13.85 20.94 14.9 16.65 12.06 8.59 4.74 5.97 29.06 73.41 360.0

107 Zodiac Clothing Co. Ltd. Apparels (Readymade garment) 211.96 242.88 0.52 0.54 2.91 3.07 28.51 36.17 13% 15% 33.96 32 50.49 50.96 75.37 79.55 7.21 6.48 27.23 29.56 364.8

108 V K S M Cotton Mills Ltd. Cotton yarn 20.13 22.27 0.71 0.78 0.91 1.10 5.06 4.43 25% 20% 22.85 17.84 37.47 9.79 95.84 59.37 11.03 23.57 6.36 8.69 366.0

109 Gloster Jute Mills Ltd. Jute & jute products 128.78 157.68 0.64 0.70 1.46 1.93 14.77 26.34 11% 17% 7.62 10.19 30.2 40 60.45 61.02 17.3 12.41 11.44 11.52 366.0

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers134

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 137: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 135

64 Shree Bharani Spinnings (India) Ltd. High tenacity yarn of viscose rayon 18.68 22.12 0.75 0.78 1.55 1.93 2.65 2.39 14% 11% 15.05 19.07 33.37 20.91 20.24 22.33 13.1 13.65 17.34 15.1 321.4

65 Arora Fibres Ltd. Polypropylene fibre 18.97 14.27 0.72 0.97 1.41 2.82 1.63 -4.28 9% -30% 30.51 33.09 18.24 16.26 18.95 20.63 1.62 1.39 33.62 38.87 323.1

66 Welspun Syntex Ltd. Polyester filament yarn (PFY) 269.61 281.37 0.76 0.81 1.93 2.12 -41.98 14.9 -16% 5% 25.32 27.94 43.69 65.44 28.38 22.6 1.67 3.27 17.17 19.96 324.1

67 Arex Industries Ltd. Textile labels, badges, etc. 14.15 16.16 0.43 0.45 0.28 0.37 5.18 5.7 37% 35% 84.75 85.49 90.43 18.1 135.09 109.58 16.92 12.82 6.65 12.49 324.9

68 Modern Denim Ltd. Cloth (Fabrics) 78.99 57.11 0.82 0.95 1.13 1.37 -8.21 29.33 -10% 51% 54.1 62.9 48.7 56.81 24.01 24.85 8.02 9.52 32.87 20.94 325.1

69 Maris Spinners Ltd. Cotton yarn 67.31 66.16 0.74 0.75 1.54 1.60 11.97 7.82 18% 12% 40.25 54.68 41.75 36.38 149.84 157.73 5.32 5.47 12.7 11.63 326.4

70 Sree Jayalakshmi Autospin Ltd. Cotton yarn 9.26 11.92 0.80 0.54 2.75 2.63 0.59 0.3 6% 3% 60.83 59.25 74.93 86.18 38.29 70.11 2.92 3.41 19.65 13.48 326.6

71 Damodar Threads Ltd. Cotton & blended yarn, processed 63.05 176.85 0.75 0.90 0.97 1.96 4.55 14.38 7% 8% 61.96 33.66 13.24 23.55 24.94 33.94 6.71 14.39 15.21 7.12 327.8

72 Sangeeth Textiles Ltd. Cotton yarn 60.01 68.72 0.87 0.69 1.17 1.14 13.01 10.28 22% 15% 37.87 20.27 67.41 54.08 47.53 32.07 5.39 5.01 20.62 22.77 328.3

73 Swastik Spintex Ltd. Cotton yarn 12.74 11.7 0.88 0.96 4.08 4.43 1.12 0.36 9% 3% 16.03 6.31 16.46 19.88 27.85 21.79 2.27 4.27 13.59 22.3 330.4

74 Salona Cotspin Ltd. Cotton yarn 41.24 46.22 0.76 0.78 1.11 1.05 9.08 7.39 22% 16% 48.61 46.95 13.98 14.71 110.41 90.38 4.04 7.78 9.42 15.14 331.2

75 Kadri Mills (Cbe) Ltd. Cotton yarn 155.17 142.52 0.81 0.85 2.32 1.35 12.14 7.38 8% 5% 35.17 29.21 10.58 15.85 53.7 45.92 7.06 8.87 6.45 9.04 331.3

76 Venus Garments (India) Ltd. Apparels (Readymade garment) 174.57 189.03 0.66 0.79 10.80 5.74 6.87 9.87 4% 5% 10.05 8.57 24.8 16.96 38.18 17.75 21.54 21.78 10.87 12.78 332.3

77 Oswal Spinning & Wvg. Mills Ltd. Cotton yarn 78.59 67.14 0.75 0.79 1.50 1.47 11.92 6.26 15% 9% 69.57 78.1 59.6 95.67 32.11 31.95 9.01 9.9 9.94 13.8 332.3

78 East India Commercial Co. Ltd. Jute & jute products 161.4 146.73 0.68 0.72 3.12 2.40 16.52 16.03 10% 11% 14.75 15.49 25.51 29.72 62.76 77.8 6.53 7.38 10.26 9.61 333.3

79 Jindal Texofab Ltd. Cloth (Fabrics) 24.76 50.27 0.59 0.79 1.21 3.17 3.01 2.64 12% 5% 77.59 29.98 209.51 212.93 60.99 19.95 3.03 1.3 11.83 24.33 334.2

80 Bhaval Synthetics (India) Ltd. Synthetic filament yarn other than sewing 9.42 19.67 0.70 0.87 0.24 0.67 1.53 0.66 16% 3% 13.02 12.43 229.81 131.15 130.36 8.91 0 5.75 0.23 1.81 336.3

81 Cheviot Co. Ltd. Jute yarn 160.62 183.78 0.61 0.66 1.38 1.14 32.4 34.03 20% 19% 22.61 19.41 15.47 30.64 62.11 67.65 7.48 6.31 14.29 16.95 338.0

82 Cheema Spintex Ltd. Cotton yarn 94.42 82.34 0.74 0.83 1.39 1.41 12.36 2.38 13% 3% 68.97 73.48 40.63 54.94 91.01 94.46 5.88 6.24 3.02 3.37 338.1

83 Selvaraja Mills Pvt. Ltd. Cotton yarn 21.84 15.95 0.75 0.85 2.75 2.30 1.71 1.18 8% 7% 17.92 21.34 22.25 33.1 49.21 68.12 6.33 6.83 6.68 6.57 338.1

84 Subhash Polytex Ltd. Acrylic filament yarn (AFY) 25.3 30.78 0.85 0.90 4.56 5.78 0.84 1.16 3% 4% 46.45 26.98 77.47 35 39.2 35.85 3.87 3.35 14.03 24.05 339.0

85 Palani Andavar Cotton & Synthetic Spinners Cotton yarn 11.1 16.59 0.72 0.84 0.46 0.85 1.73 1.4 16% 8% 25.21 23.4 268.45 177.96 80.38 38.17 3.62 3.41 4.09 4.04 339.5

86 S T I India Ltd. Cotton yarn 155.64 159.97 0.77 0.91 0.88 1.19 115.77 -5.42 74% -3% 17.87 11.78 46.44 69.76 51.51 27.09 4.73 4.25 3.68 4.19 340.9

87 G P I Textiles Ltd. Cotton yarn 252.84 213.24 0.75 0.85 0.61 0.91 32.17 14.84 13% 7% 12.88 22.34 104.24 109.3 14.58 20.46 5.39 6.3 4.66 7.85 341.1

88 Naihati Jute Mills Co. Ltd. Jute & jute products 86.97 104.9 0.78 0.84 9.59 12.62 1.59 2.94 2% 3% 10.49 7.29 53.91 56.1 37.26 34.96 12.84 8.65 10.84 5.26 342.1

89 Sportking India Ltd. Acrylic filament yarn (AFY) 200.68 238.63 0.78 0.82 1.30 1.73 29.12 26.53 15% 11% 52.19 46.98 79.98 44.86 85.52 94.19 5.69 5.45 9.46 12.76 342.6

90 Acknit Industries Ltd. Gloves, mittens, etc. knitted or crocheted 33.96 44.83 0.69 0.77 1.58 2.02 4.67 4.54 14% 10% 49.62 49.83 25.98 28.22 65.23 62.85 7.29 11.8 10.4 15.04 342.7

91 Kewal Kiran Clothing Ltd. Apparels (Readymade garment) 141 168.18 0.54 0.49 2.50 2.19 32.52 38.45 23% 23% 52 65.6 34.85 47.5 22.22 18.22 28.14 29.15 27.83 39.72 343.5

92 Kamarhatty Co. Ltd. Jute & jute products 94.79 109.64 0.74 0.82 2.91 3.31 4.22 5.2 4% 5% 31.19 25.29 87.88 66.02 41.47 34.24 8.1 6.7 18.88 13.09 344.6

93 Hindoostan Spinning & Wvg. Mills Ltd. Cloth (Fabrics) 61 55.48 0.82 0.92 3.67 4.22 3.55 -0.57 6% -1% 373.83 323.29 99.69 45.1 28.65 33.37 9.86 12.44 12.35 18.85 345.6

94 Premco Global Ltd. Rubberised textile fabrics (elastic tapes) 23.13 24.73 0.72 0.67 1.62 1.63 1.91 1.98 8% 8% 61.07 55.88 39.9 51.82 71.87 76.77 5.51 3.72 30.29 23.24 347.3

95 Madanapalle Spinning Mills Ltd. Cotton & blended yarn 44.67 49.63 0.81 0.83 3.40 3.32 4.94 1.58 11% 3% 36.78 43.2 85.64 59.45 33.59 26.11 10.74 13.24 12.16 12.84 349.3

96 Pasupati Spinning & Wvg. Mills Ltd. Synthetic filament yarn other than sewing 158.01 138.69 0.71 0.71 1.67 1.55 30.63 11.49 19% 8% 81.73 83.79 65.06 72.43 22.52 18.98 9.75 9.51 38.85 45.99 349.7

97 Katare Spinning Mills Ltd. Cotton yarn 21.12 22.09 0.79 0.79 0.79 0.88 3.02 2.48 14% 11% 12.01 13.03 62.23 62.19 28.62 17.78 3.97 7.42 22.48 17.5 350.0

98 Emtex Industries (India) Ltd. Cloth processed 48.17 43.13 0.83 1.02 4.22 5.43 -1.58 -6.8 -3% -16% 324 255.17 289.31 299.73 14.48 20.05 20.15 20.71 8.07 6.89 350.3

99 Uniworth Ltd. Wool yarn 100.04 165.01 0.82 0.81 0.95 1.70 11.55 21.62 12% 13% 1513.7 1110.11 1192.01 813.84 44.06 25.02 39.49 30.54 12.12 10.83 352.7

100 R M Mohite Textiles Ltd. Cotton yarn 100.58 106.14 0.80 0.79 1.30 0.94 17.46 16.84 17% 16% 59.27 69.45 13.13 34.08 58.1 42.53 9.32 15.78 12.57 20.56 356.4

101 Integra Apparels & Textiles Pvt. Ltd. Apparels (Readymade garment) 43.53 76.09 0.82 0.78 1.94 1.81 4.96 5.59 11% 7% 48.69 50.05 82.6 50.96 40.86 27.85 5.13 11.64 26.78 24.07 356.8

102 Shiva Texyarn Ltd. Cotton yarn 99.25 96.15 0.65 0.66 0.52 0.47 28.49 22.96 29% 24% 22.08 27.69 39.16 25.41 222.75 167.24 5.34 6.47 8.56 11.75 358.0

103 Bhandari Hosiery Exports Ltd. Apparels - knitted / crocheted 65.39 75.06 0.74 0.83 5.40 6.03 3.92 4.57 6% 6% 25.29 27.69 26.74 25.81 19.01 30.43 29.02 57.1 6.69 8.4 359.0

104 Sarla Performance Fibres Ltd. Textured yarn of synthetic filament yarn 101.45 112.81 0.64 0.63 1.70 1.38 18.47 20.29 18% 18% 86.24 94.16 81.98 79.76 42.28 58.55 12.53 15.36 22.43 17 359.4

105 Jasch Industries Ltd. Coated / laminated textile fabrics 34.97 41.54 0.78 0.79 1.69 1.75 4.08 5.18 12% 12% 75.41 78.42 56.93 59.03 68.44 72.29 16.29 13.54 12.47 10.07 359.6

106 Ankur Udyog Ltd. Textured yarn of synthetic filament yarn 133.11 120.85 0.99 1.07 1.38 1.44 7.5 12.33 6% 10% 13.85 20.94 14.9 16.65 12.06 8.59 4.74 5.97 29.06 73.41 360.0

107 Zodiac Clothing Co. Ltd. Apparels (Readymade garment) 211.96 242.88 0.52 0.54 2.91 3.07 28.51 36.17 13% 15% 33.96 32 50.49 50.96 75.37 79.55 7.21 6.48 27.23 29.56 364.8

108 V K S M Cotton Mills Ltd. Cotton yarn 20.13 22.27 0.71 0.78 0.91 1.10 5.06 4.43 25% 20% 22.85 17.84 37.47 9.79 95.84 59.37 11.03 23.57 6.36 8.69 366.0

109 Gloster Jute Mills Ltd. Jute & jute products 128.78 157.68 0.64 0.70 1.46 1.93 14.77 26.34 11% 17% 7.62 10.19 30.2 40 60.45 61.02 17.3 12.41 11.44 11.52 366.0

te

xt

ile

sRank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 138: Reinventing the Supply Chain

110 Sybly Industries Ltd. High tenacity yarn of polyesters 64.24 72.93 0.93 0.92 2.80 2.55 3.75 5 6% 7% 86.08 80.24 108.44 86.94 29.17 24.67 38 44.15 9.57 7.81 366.6

111 Modern Terry Towels Ltd. Terry towelling & similar woven terry fabrics 82.02 81.45 0.70 0.76 0.64 0.77 63.64 17.13 78% 21% 43.88 36.86 47.01 53.43 41.43 26.17 15.31 11.94 31.04 27.41 367.6

112 Sree Karpagambal Mills Ltd. Cotton & blended yarn 109.84 103.92 0.80 0.79 2.63 2.29 9.22 10.02 8% 10% 48.96 59.1 36.82 28.79 87.31 62.12 5.33 4.29 59.84 76.33 367.7

113 Dhanlaxmi Fabrics Ltd. Cloth processed 52.36 46.71 0.77 0.67 1.40 0.97 10.34 7.51 20% 16% 54.58 57.89 38.22 53.16 27.66 29.02 5.25 10.45 45.41 46.89 368.1

114 Parasrampuria Synthetics Ltd. Polyester filament yarn (PFY) 143.73 127.51 0.79 0.84 0.37 0.36 11.93 -4.77 8% -4% 92.79 98.04 265.55 288.27 36.23 30.02 5.33 5.35 12.71 15.65 368.3

115 Surat Textile Mills Ltd. Polyester filament yarn (PFY) 100.07 90.14 0.81 0.91 3.90 4.30 1.77 43.42 2% 48% 19.3 30.74 77.32 86.01 14.42 20.74 13.5 13.96 17.06 22.24 368.9

116 Pioneer Spinning & Weaving Mills Ltd. Cotton yarn 36.28 32.63 0.66 0.75 3.38 2.79 7.55 4.31 21% 13% 21.82 23.11 19.98 40.41 86.98 80.65 8.82 9.44 15.58 14.02 369.0

117 Madhumilan Industries Ltd. Synthetic filament yarn other than sewing 35.53 34.52 0.91 0.95 17.86 20.02 2.15 0.46 6% 1% 30.96 26.31 54.28 53.05 33.79 36.86 6.02 5.97 9.23 18.84 369.8

118 Maharaja Shree Umaid Mills Ltd. Cotton & blended yarn 219.63 257.45 0.82 0.87 2.41 2.90 25.77 22.21 12% 9% 20.24 17.73 23.05 19.6 94.85 99.39 6.3 7.49 9.43 11.67 370.3

119 Ludlow Jute & Specialities Ltd. Jute & jute products 131.44 157.97 0.71 0.75 4.77 4.40 4.2 7.1 3% 4% 20 15.95 45.32 72.52 53.75 81.02 3.63 4.51 8.04 9.8 373.2

120 A P M Industries Ltd. Synthetic filament yarn other than sewing 158.1 164.93 0.85 0.93 2.40 2.57 14.04 11.39 9% 7% 33.44 42.35 29.8 38.67 25.67 25.18 9.35 11.21 24.42 29.16 374.1

121 yogindera Worsted Ltd. Acrylic filament yarn (AFY) 55.54 105.19 0.85 0.97 2.08 2.54 7.46 8.11 13% 8% 17.96 22.6 24.19 16.92 18.46 9.6 35.04 15.37 36.77 30.65 375.7

122 C A V Cotton Mills Ltd. Cotton yarn 46.27 52.07 0.78 0.75 1.02 0.94 8.53 6.43 18% 12% 21.55 29.75 101.07 75.3 64.51 49.22 5.14 3.73 28.89 24.57 375.8

123 Sumeet Industries Ltd. Polypropylene filament yarn (PPFY) 113.05 130.15 0.86 0.82 2.20 2.24 12.21 13.16 11% 10% 16.4 19.16 18.57 23.53 31.22 40.97 26.76 36.12 11.33 8.74 376.0

124 Kamadgiri Synthetics Ltd. Cloth (Fabrics) 25.16 35.83 0.74 0.81 1.43 2.43 4 2.74 16% 8% 68.64 58.05 24.07 54.61 82.33 100.42 0.73 4.3 19.1 20.4 376.1

125 Kamadgiri Industries Ltd. Polyester staple fibre (PSF) 33.76 30.43 0.95 1.02 56.00 70.55 0.69 0.86 2% 3% 36.28 30.3 367.28 380.43 2.85 2.72 7.99 24.26 2.16 6.13 376.5

126 Deepak Spinners Ltd. Cellulose acetate yarn 208.42 197.2 0.88 0.81 1.73 1.45 16.66 16.7 8% 8% 31.06 35.73 13.71 13.15 33.1 42.64 10.02 11.64 24.17 30.9 376.5

127 Siddhartha Super Spg. Mills Ltd. Synthetic filament yarn other than sewing 13.26 48.35 0.91 0.83 1.68 5.53 15.95 3.25 120% 7% 4.27 6.9 185.38 41.64 174.33 32.19 23.09 14 22.85 13.09 377.9

128 P B M Polytex Ltd. Cotton & blended yarn 125.92 128.11 0.76 0.79 1.41 1.36 16.52 11.67 13% 9% 23.59 19.83 25.1 17.94 166.17 126.92 7.22 7.68 10.09 11.26 378.0

129 Mecords India Ltd. Cloth (Fabrics) 35.57 38.02 0.66 0.65 1.34 0.96 5.08 8.18 14% 22% NA 154.79 34.61 48.65 NA 64.98 NA 75.77 NA 13.23 378.1

130 Santaram Spinners Ltd. Cotton yarn 11.99 11.8 0.98 0.93 3.60 3.16 0.61 0.89 5% 8% 128.74 173.06 26.27 33.41 38.61 88.06 0.97 2.51 62.99 81.74 383.2

131 Scan Synthetics Ltd. Synthetic filament yarn other than sewing 25.24 23.47 0.87 0.76 2.00 2.05 1.37 2.84 5% 12% 32.32 34.13 36.93 47.88 15.54 16.51 47.82 77.17 18.18 21.34 383.5

132 Ganesh Polytex Ltd. Textured yarn of synthetic filament yarn 63.08 106.4 0.80 0.75 1.61 1.65 7.05 11.89 11% 11% 39.14 26.48 43.64 28.89 64.59 55.83 15.25 13.64 20.92 17.87 383.6

133 Reliance Chemotex Inds. Ltd. Cotton & blended yarn 105.19 147.53 0.80 0.74 2.86 2.56 6.92 8.61 7% 6% 7.95 8.21 46.68 48.93 42.86 33.52 14.21 12.23 21.78 16.53 384.6

134 Nandan Exim Ltd. Cloth (Fabrics) 224.38 295.8 0.78 0.81 1.09 1.10 42.95 52.81 19% 18% 74.49 89.9 42.63 38.33 31.96 49.41 10.23 23.79 32.16 23.69 386.3

135 Somany Evergreen Knits Ltd. Cloth (Fabrics) 15.71 13.96 0.78 0.79 0.85 0.85 3.28 1.81 21% 13% NA 58.82 88.53 61.44 NA 56.89 NA 35.33 NA 5.53 386.9

136 H P Cotton Textile Mills Ltd. Cotton yarn 73.94 64.07 0.76 0.58 3.38 2.48 3.89 -2.35 5% -4% 36.06 31.26 78.51 46.83 60.16 52.21 2.17 2.72 53.81 60.57 387.8

137 Ganga Acrowools Ltd. Acrylic filament yarn (AFY) 42.89 59.68 0.93 0.69 2.15 1.41 7.16 6.67 17% 11% 59.45 45.72 53.59 72.96 21.99 30.39 10.92 11.66 46.26 37.37 387.9

138 Budge Budge Co. Ltd. Jute & jute products 42.34 80.14 0.77 0.79 0.50 1.01 0.85 2.08 2% 3% 26.88 13.67 241.97 143.74 31.65 30.1 15.24 8.6 14.66 7.15 388.0

139 V M T Spinning Co. Ltd. Cotton yarn 68.48 91.12 0.65 0.69 0.84 1.11 15.15 17.58 22% 19% 21.67 21.3 28.84 22.18 290.22 217.51 14.74 13.39 9.42 8.17 388.5

140 Evinix Accessories Ltd. Apparels (Readymade garment) 68.27 119.01 0.91 0.79 3.61 3.98 10.17 20.33 15% 17% 85.16 98.37 39.18 55.98 34.62 71.96 24.24 35.68 13.38 16.71 388.6

141 Sri Ramiah Spinners Ltd. Cotton yarn 27.8 27.17 0.88 0.83 1.47 1.34 3.53 4.33 13% 16% 35.19 37.79 22.63 23.31 91.2 79.81 6.91 7.58 20.74 30.16 388.6

142 G S L (India) Ltd. Synthetic filament yarn other than sewing 55.71 54.87 0.83 0.90 0.65 0.77 2.82 1.04 5% 2% 24.06 34.5 241.49 262.98 14.11 16.04 4.4 4.37 12.33 19.21 388.9

143 Shree Rajasthan Syntex Ltd. Cotton & blended yarn 299.87 277.34 0.80 0.96 1.80 1.78 28.94 21.18 10% 8% 22.86 27.65 27.7 40.62 30.59 28.82 7.43 9.1 17.04 28.61 390.1

144 Suryavanshi Spinning Mills Ltd. Cotton & blended yarn 212.3 172.34 0.81 0.86 2.44 1.78 21.47 12.52 10% 7% 45.99 40.31 33.07 54.05 50.19 46.63 5.93 9.14 11.33 20.49 390.7

145 Simplex Mills Co. Ltd. Cotton & blended yarn 21.99 19.36 0.79 0.93 1.17 1.25 1.09 -0.66 5% -3% 23.72 24.65 31.47 42.73 29.98 27.45 13.38 14.96 10.15 8.66 392.6

146 M H Mills & Inds. Ltd. Cloth (Fabrics) 62.36 69.78 0.86 0.84 2.34 3.52 79.25 0.81 127% 1% 51.75 31.86 121.41 93.75 28.55 7.18 44.89 39.41 14.25 11.72 393.9

147 Stripes Apparels Ltd. [Merged] Apparels (Readymade garment) 3.16 31.6 0.62 1.05 0.42 3.59 0.61 2.66 19% 8% 25.99 39.99 265.06 120.54 82.95 2.09 0 12.42 0 30.64 394.0

148 Gem Spinners India Ltd. Cotton yarn 97.48 104.51 0.77 0.88 2.31 3.14 10.19 5.03 10% 5% 77.93 98.27 122.65 164.76 155.65 180.85 6.04 5.62 10.84 9.94 394.4

149 Rajanarayan Textiles Ltd. Cotton yarn 1s to 10s 40.68 34.72 0.86 0.72 3.77 2.29 3.97 1.82 10% 5% 80.82 113.23 93.25 130.93 61.52 57.04 8.46 8.43 33.14 31.12 394.6

150 Nitin Spinners Ltd. Cotton yarn 128.57 201.62 0.69 0.75 0.36 0.53 24.94 30.11 19% 15% 17.79 17.47 32.74 20.54 155.99 110.26 11.42 10.69 13.99 9.86 395.0

151 Seasons Textiles Ltd. Cloth (Fabrics) 30.56 34.14 0.57 0.66 0.87 1.11 4.39 4.61 14% 14% 75.01 82.7 41.6 50.8 132.72 151.65 4.75 4.78 43.12 42.66 395.3

152 Ashnoor Textile Mills Ltd. Terry towelling & similar woven terry fabrics 33.91 50.36 0.74 0.61 3.30 2.67 2.82 3.59 8% 7% 19.94 28.57 67 73.18 9.86 11.98 21.6 16.34 41.1 39.27 395.5

153 D C M Ltd. Cotton & blended yarn 102.66 164.96 0.77 0.87 0.96 1.63 22.28 13.55 22% 8% 866.55 466.45 361.69 179.87 218.98 175.37 6.68 5.95 9.63 12.24 396.2

154 Annur Satya Textile Ltd. Cotton yarn 8.84 14.72 0.48 0.96 0.33 0.79 2.24 4.55 25% 31% 18.46 21.04 60.46 38.76 679.07 99.75 0 8.43 0 9.55 400.9

155 Ginza Industries Ltd. Other textile articles 89.65 111.08 0.71 0.88 0.66 0.85 24.18 27.35 27% 25% 52.89 52.98 34.28 33.77 33.7 29.26 21.06 11.87 76.22 89.46 403.2

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers136

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 139: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 137

110 Sybly Industries Ltd. High tenacity yarn of polyesters 64.24 72.93 0.93 0.92 2.80 2.55 3.75 5 6% 7% 86.08 80.24 108.44 86.94 29.17 24.67 38 44.15 9.57 7.81 366.6

111 Modern Terry Towels Ltd. Terry towelling & similar woven terry fabrics 82.02 81.45 0.70 0.76 0.64 0.77 63.64 17.13 78% 21% 43.88 36.86 47.01 53.43 41.43 26.17 15.31 11.94 31.04 27.41 367.6

112 Sree Karpagambal Mills Ltd. Cotton & blended yarn 109.84 103.92 0.80 0.79 2.63 2.29 9.22 10.02 8% 10% 48.96 59.1 36.82 28.79 87.31 62.12 5.33 4.29 59.84 76.33 367.7

113 Dhanlaxmi Fabrics Ltd. Cloth processed 52.36 46.71 0.77 0.67 1.40 0.97 10.34 7.51 20% 16% 54.58 57.89 38.22 53.16 27.66 29.02 5.25 10.45 45.41 46.89 368.1

114 Parasrampuria Synthetics Ltd. Polyester filament yarn (PFY) 143.73 127.51 0.79 0.84 0.37 0.36 11.93 -4.77 8% -4% 92.79 98.04 265.55 288.27 36.23 30.02 5.33 5.35 12.71 15.65 368.3

115 Surat Textile Mills Ltd. Polyester filament yarn (PFY) 100.07 90.14 0.81 0.91 3.90 4.30 1.77 43.42 2% 48% 19.3 30.74 77.32 86.01 14.42 20.74 13.5 13.96 17.06 22.24 368.9

116 Pioneer Spinning & Weaving Mills Ltd. Cotton yarn 36.28 32.63 0.66 0.75 3.38 2.79 7.55 4.31 21% 13% 21.82 23.11 19.98 40.41 86.98 80.65 8.82 9.44 15.58 14.02 369.0

117 Madhumilan Industries Ltd. Synthetic filament yarn other than sewing 35.53 34.52 0.91 0.95 17.86 20.02 2.15 0.46 6% 1% 30.96 26.31 54.28 53.05 33.79 36.86 6.02 5.97 9.23 18.84 369.8

118 Maharaja Shree Umaid Mills Ltd. Cotton & blended yarn 219.63 257.45 0.82 0.87 2.41 2.90 25.77 22.21 12% 9% 20.24 17.73 23.05 19.6 94.85 99.39 6.3 7.49 9.43 11.67 370.3

119 Ludlow Jute & Specialities Ltd. Jute & jute products 131.44 157.97 0.71 0.75 4.77 4.40 4.2 7.1 3% 4% 20 15.95 45.32 72.52 53.75 81.02 3.63 4.51 8.04 9.8 373.2

120 A P M Industries Ltd. Synthetic filament yarn other than sewing 158.1 164.93 0.85 0.93 2.40 2.57 14.04 11.39 9% 7% 33.44 42.35 29.8 38.67 25.67 25.18 9.35 11.21 24.42 29.16 374.1

121 yogindera Worsted Ltd. Acrylic filament yarn (AFY) 55.54 105.19 0.85 0.97 2.08 2.54 7.46 8.11 13% 8% 17.96 22.6 24.19 16.92 18.46 9.6 35.04 15.37 36.77 30.65 375.7

122 C A V Cotton Mills Ltd. Cotton yarn 46.27 52.07 0.78 0.75 1.02 0.94 8.53 6.43 18% 12% 21.55 29.75 101.07 75.3 64.51 49.22 5.14 3.73 28.89 24.57 375.8

123 Sumeet Industries Ltd. Polypropylene filament yarn (PPFY) 113.05 130.15 0.86 0.82 2.20 2.24 12.21 13.16 11% 10% 16.4 19.16 18.57 23.53 31.22 40.97 26.76 36.12 11.33 8.74 376.0

124 Kamadgiri Synthetics Ltd. Cloth (Fabrics) 25.16 35.83 0.74 0.81 1.43 2.43 4 2.74 16% 8% 68.64 58.05 24.07 54.61 82.33 100.42 0.73 4.3 19.1 20.4 376.1

125 Kamadgiri Industries Ltd. Polyester staple fibre (PSF) 33.76 30.43 0.95 1.02 56.00 70.55 0.69 0.86 2% 3% 36.28 30.3 367.28 380.43 2.85 2.72 7.99 24.26 2.16 6.13 376.5

126 Deepak Spinners Ltd. Cellulose acetate yarn 208.42 197.2 0.88 0.81 1.73 1.45 16.66 16.7 8% 8% 31.06 35.73 13.71 13.15 33.1 42.64 10.02 11.64 24.17 30.9 376.5

127 Siddhartha Super Spg. Mills Ltd. Synthetic filament yarn other than sewing 13.26 48.35 0.91 0.83 1.68 5.53 15.95 3.25 120% 7% 4.27 6.9 185.38 41.64 174.33 32.19 23.09 14 22.85 13.09 377.9

128 P B M Polytex Ltd. Cotton & blended yarn 125.92 128.11 0.76 0.79 1.41 1.36 16.52 11.67 13% 9% 23.59 19.83 25.1 17.94 166.17 126.92 7.22 7.68 10.09 11.26 378.0

129 Mecords India Ltd. Cloth (Fabrics) 35.57 38.02 0.66 0.65 1.34 0.96 5.08 8.18 14% 22% NA 154.79 34.61 48.65 NA 64.98 NA 75.77 NA 13.23 378.1

130 Santaram Spinners Ltd. Cotton yarn 11.99 11.8 0.98 0.93 3.60 3.16 0.61 0.89 5% 8% 128.74 173.06 26.27 33.41 38.61 88.06 0.97 2.51 62.99 81.74 383.2

131 Scan Synthetics Ltd. Synthetic filament yarn other than sewing 25.24 23.47 0.87 0.76 2.00 2.05 1.37 2.84 5% 12% 32.32 34.13 36.93 47.88 15.54 16.51 47.82 77.17 18.18 21.34 383.5

132 Ganesh Polytex Ltd. Textured yarn of synthetic filament yarn 63.08 106.4 0.80 0.75 1.61 1.65 7.05 11.89 11% 11% 39.14 26.48 43.64 28.89 64.59 55.83 15.25 13.64 20.92 17.87 383.6

133 Reliance Chemotex Inds. Ltd. Cotton & blended yarn 105.19 147.53 0.80 0.74 2.86 2.56 6.92 8.61 7% 6% 7.95 8.21 46.68 48.93 42.86 33.52 14.21 12.23 21.78 16.53 384.6

134 Nandan Exim Ltd. Cloth (Fabrics) 224.38 295.8 0.78 0.81 1.09 1.10 42.95 52.81 19% 18% 74.49 89.9 42.63 38.33 31.96 49.41 10.23 23.79 32.16 23.69 386.3

135 Somany Evergreen Knits Ltd. Cloth (Fabrics) 15.71 13.96 0.78 0.79 0.85 0.85 3.28 1.81 21% 13% NA 58.82 88.53 61.44 NA 56.89 NA 35.33 NA 5.53 386.9

136 H P Cotton Textile Mills Ltd. Cotton yarn 73.94 64.07 0.76 0.58 3.38 2.48 3.89 -2.35 5% -4% 36.06 31.26 78.51 46.83 60.16 52.21 2.17 2.72 53.81 60.57 387.8

137 Ganga Acrowools Ltd. Acrylic filament yarn (AFY) 42.89 59.68 0.93 0.69 2.15 1.41 7.16 6.67 17% 11% 59.45 45.72 53.59 72.96 21.99 30.39 10.92 11.66 46.26 37.37 387.9

138 Budge Budge Co. Ltd. Jute & jute products 42.34 80.14 0.77 0.79 0.50 1.01 0.85 2.08 2% 3% 26.88 13.67 241.97 143.74 31.65 30.1 15.24 8.6 14.66 7.15 388.0

139 V M T Spinning Co. Ltd. Cotton yarn 68.48 91.12 0.65 0.69 0.84 1.11 15.15 17.58 22% 19% 21.67 21.3 28.84 22.18 290.22 217.51 14.74 13.39 9.42 8.17 388.5

140 Evinix Accessories Ltd. Apparels (Readymade garment) 68.27 119.01 0.91 0.79 3.61 3.98 10.17 20.33 15% 17% 85.16 98.37 39.18 55.98 34.62 71.96 24.24 35.68 13.38 16.71 388.6

141 Sri Ramiah Spinners Ltd. Cotton yarn 27.8 27.17 0.88 0.83 1.47 1.34 3.53 4.33 13% 16% 35.19 37.79 22.63 23.31 91.2 79.81 6.91 7.58 20.74 30.16 388.6

142 G S L (India) Ltd. Synthetic filament yarn other than sewing 55.71 54.87 0.83 0.90 0.65 0.77 2.82 1.04 5% 2% 24.06 34.5 241.49 262.98 14.11 16.04 4.4 4.37 12.33 19.21 388.9

143 Shree Rajasthan Syntex Ltd. Cotton & blended yarn 299.87 277.34 0.80 0.96 1.80 1.78 28.94 21.18 10% 8% 22.86 27.65 27.7 40.62 30.59 28.82 7.43 9.1 17.04 28.61 390.1

144 Suryavanshi Spinning Mills Ltd. Cotton & blended yarn 212.3 172.34 0.81 0.86 2.44 1.78 21.47 12.52 10% 7% 45.99 40.31 33.07 54.05 50.19 46.63 5.93 9.14 11.33 20.49 390.7

145 Simplex Mills Co. Ltd. Cotton & blended yarn 21.99 19.36 0.79 0.93 1.17 1.25 1.09 -0.66 5% -3% 23.72 24.65 31.47 42.73 29.98 27.45 13.38 14.96 10.15 8.66 392.6

146 M H Mills & Inds. Ltd. Cloth (Fabrics) 62.36 69.78 0.86 0.84 2.34 3.52 79.25 0.81 127% 1% 51.75 31.86 121.41 93.75 28.55 7.18 44.89 39.41 14.25 11.72 393.9

147 Stripes Apparels Ltd. [Merged] Apparels (Readymade garment) 3.16 31.6 0.62 1.05 0.42 3.59 0.61 2.66 19% 8% 25.99 39.99 265.06 120.54 82.95 2.09 0 12.42 0 30.64 394.0

148 Gem Spinners India Ltd. Cotton yarn 97.48 104.51 0.77 0.88 2.31 3.14 10.19 5.03 10% 5% 77.93 98.27 122.65 164.76 155.65 180.85 6.04 5.62 10.84 9.94 394.4

149 Rajanarayan Textiles Ltd. Cotton yarn 1s to 10s 40.68 34.72 0.86 0.72 3.77 2.29 3.97 1.82 10% 5% 80.82 113.23 93.25 130.93 61.52 57.04 8.46 8.43 33.14 31.12 394.6

150 Nitin Spinners Ltd. Cotton yarn 128.57 201.62 0.69 0.75 0.36 0.53 24.94 30.11 19% 15% 17.79 17.47 32.74 20.54 155.99 110.26 11.42 10.69 13.99 9.86 395.0

151 Seasons Textiles Ltd. Cloth (Fabrics) 30.56 34.14 0.57 0.66 0.87 1.11 4.39 4.61 14% 14% 75.01 82.7 41.6 50.8 132.72 151.65 4.75 4.78 43.12 42.66 395.3

152 Ashnoor Textile Mills Ltd. Terry towelling & similar woven terry fabrics 33.91 50.36 0.74 0.61 3.30 2.67 2.82 3.59 8% 7% 19.94 28.57 67 73.18 9.86 11.98 21.6 16.34 41.1 39.27 395.5

153 D C M Ltd. Cotton & blended yarn 102.66 164.96 0.77 0.87 0.96 1.63 22.28 13.55 22% 8% 866.55 466.45 361.69 179.87 218.98 175.37 6.68 5.95 9.63 12.24 396.2

154 Annur Satya Textile Ltd. Cotton yarn 8.84 14.72 0.48 0.96 0.33 0.79 2.24 4.55 25% 31% 18.46 21.04 60.46 38.76 679.07 99.75 0 8.43 0 9.55 400.9

155 Ginza Industries Ltd. Other textile articles 89.65 111.08 0.71 0.88 0.66 0.85 24.18 27.35 27% 25% 52.89 52.98 34.28 33.77 33.7 29.26 21.06 11.87 76.22 89.46 403.2

te

xt

ile

sRank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 140: Reinventing the Supply Chain

156 Southern Spinners & Processors Ltd. Cotton yarn 32.18 28.86 0.80 0.93 3.22 3.70 1.92 -0.67 6% -2% 51.06 32.99 19.32 30.42 99.98 58.28 5.72 5.61 25.78 33.79 403.4

157 Wires & Fabriks (S.A.) Ltd. Textile products for technical uses 44.78 49.63 0.41 0.43 0.31 0.39 10.14 11.1 23% 22% 111.07 112.69 67.72 77.88 112.48 131.46 22.35 19.07 14.64 12.81 406.0

158 Prathishta Weaving & Knitting Co. Ltd. Cotton & blended yarn 16.16 17.73 0.57 0.67 2.10 2.76 2.08 1.82 13% 10% 6.59 8.94 21.6 18.25 51.86 60.28 12.65 14.09 32.21 24.53 406.7

159 Rainbow Denim Ltd. Denim 106.69 122.22 0.73 0.70 0.54 0.62 4.9 5.72 5% 5% 55.24 44.51 135.49 121.45 49.99 42.41 11.61 9.21 24.52 17.23 408.4

160 Thanjavur Spinning Mill Ltd. Cotton yarn 35.45 41.54 0.77 0.61 0.68 0.47 7.85 6.2 22% 15% 15.8 16.64 73.79 15.79 137.31 119.79 7.64 6.24 39.78 29.86 409.8

161 Sree Vadivambigai Textile Mills Ltd. Cotton yarn 27.83 23.8 0.72 0.86 3.41 3.72 0.62 1.01 2% 4% 48.12 13.88 46.27 36.32 25.81 27.2 13.43 13.26 22.42 28.02 411.7

162 Prabartak Jute Mills Ltd. Jute & jute products 40.6 56.51 1.08 0.80 11.73 11.18 1.14 1.35 3% 2% 13.86 11.97 67.89 65.79 32.94 42.13 8.28 5.93 32.24 35.64 415.6

163 Sri Ram Spinning Mills Ltd. Cotton yarn 25.76 24.76 0.77 0.81 1.10 1.17 3.51 2.59 14% 10% 23.47 26.76 57.89 54.59 94.46 99.91 7.46 6.81 12.75 15.87 416.6

164 Riba Textiles Ltd. Towels including turkish towels 45.51 52.45 0.57 0.55 0.70 0.81 8.79 9.24 19% 18% 20.57 9.63 3.11 20.01 20.25 25.07 43.21 59.38 35.35 32.17 418.4

165 Addi Industries Ltd. Apparels - knitted / crocheted 8.48 16.93 0.44 0.33 0.54 0.51 -4.52 3.42 -53% 20% 22.57 30.62 23.31 30.82 146.94 116.77 8.89 8.2 62.54 37.06 419.4

166 Hind Syntex Ltd. Synthetic filament yarn other than sewing 78.59 78.15 0.84 0.95 1.29 1.59 5.93 0.89 8% 1% 26.06 18.17 33.4 35.42 29.75 29.62 12.37 11.88 15.63 21.15 420.7

167 Oswal Knit India Ltd. Apparels (Readymade garment) 62.99 65.86 0.85 0.89 7.09 8.58 3.54 3.59 6% 5% 118.11 105.79 237.12 259.83 55 63.15 1.61 1.81 96.88 122.43 420.8

168 Silver Spark Apparel Ltd. Apparels (Readymade garment) 73.44 93.38 0.77 0.67 1.09 1.16 7.25 14.42 10% 15% 41.96 42.96 105.31 68.23 46.39 54.19 21.4 18.25 32.73 23.83 421.3

169 Jaimurugan Textiles Ltd. Cotton yarn 24.55 22.63 0.94 0.97 1.45 1.48 2.88 1.94 12% 9% 67.48 87.25 126.35 159.85 41.67 36.5 5.15 6.14 22.47 52.45 421.5

170 Kallam Spinning Mills Ltd. Cotton & blended yarn 50.06 62.17 0.66 0.65 0.57 0.62 12.32 16.07 25% 26% 17.35 20.44 19.34 37.65 193.39 165.37 21.23 14.65 6.89 10.55 421.7

171 Ramaraju Surgical Cotton Mills Ltd. Cotton yarn 82.11 98.8 0.69 0.66 0.49 0.36 17.69 17.03 22% 17% 17 15.79 105.9 32.42 123.45 122.73 9.98 9.75 17.38 16.44 422.6

172 Richa Industries Ltd. Cloth processed 63.59 99.71 0.71 0.80 0.63 0.98 8.79 17.3 14% 17% 51.8 64.03 26.83 84.03 70.87 131.01 36.64 32.26 6.85 1.65 423.5

173 Euro Fashion Inners Intl. Pvt. Ltd. Apparels - knitted / crocheted 22.42 26.92 0.59 0.23 20.52 5.12 0.7 1.26 3% 5% 123.9 82.39 77.15 36.79 97.92 100.67 33.83 12.47 96.54 62.03 423.7

174 york Exports Ltd. Other garments, knitted or crocheted 7.54 10.11 0.40 0.62 1.39 2.96 1.04 1.24 14% 12% 25.68 16.02 39.69 43.61 72.29 39.84 25.84 22.63 56.34 38.1 424.1

175 Orbit Exports Ltd. Cloth (Fabrics) 27.21 39.06 0.90 0.89 6.49 7.08 2.52 4.39 9% 11% 40.31 33.51 26.88 32.79 45.08 40.02 17.21 13.76 62.29 65.61 424.3

176 Durairaj Mills Ltd. Cotton yarn 35.12 32.3 0.81 0.71 1.79 0.66 4.3 3.04 12% 9% 58.32 62.59 71.21 31.47 113.48 131.64 6.39 7.32 31.12 39 425.6

177 Vishnu Cotton Mills Ltd. Cotton yarn 52.03 48.07 0.79 0.83 1.54 1.63 6.38 5.23 12% 11% NA 23.78 50.91 80.1 NA 78.24 NA 14.13 NA 5.65 426.3

178 Madura Garments Exports Ltd. Apparels (Readymade garment) 145.25 211.75 0.82 0.84 2.07 2.14 6.76 -8.09 5% -4% 54.17 91.98 62.88 74.63 44.59 65.58 8.51 16.45 8.6 14.62 426.6

179 Van Tex Ltd. Cotton yarn 24.81 22.34 0.66 0.82 2.20 2.60 2.63 0.92 11% 4% 27.42 28.99 52.47 42.22 41.6 35.12 9.94 13.31 16.65 32.19 427.2

180 Veejay Lakshmi Textiles Ltd. Cotton yarn 33.38 37.92 0.75 0.79 0.70 0.68 3.9 -0.58 12% -2% 51.22 68.02 24.1 58.61 85.95 69.6 21.32 24.1 6.17 6.89 427.9

181 Sri Ramakrishna Mills (Coimbatore) Ltd. Cotton yarn 62.37 55.79 0.89 0.74 1.55 0.90 39.23 5.99 63% 11% 78.96 87.15 57.81 207.04 46.17 47.49 10.82 12.88 33.5 30.61 429.2

182 Guhan Textile Mills Pvt. Ltd. Cotton yarn 47.69 41.82 0.77 0.75 1.42 1.36 10.24 3.99 21% 10% 32.83 37.96 83.26 67.75 141.77 115.13 4.98 8.9 14.15 19.22 430.1

183 Modern Threads (India) Ltd. Cotton & blended yarn 86.29 82.94 0.79 0.79 1.38 1.44 183.46 12.35 213% 15% 49.41 33.37 111.65 119.02 28.96 34.89 20.7 17.11 16.97 23.36 432.4

184 Bannari Amman Spinning Mills Ltd. Cotton yarn 105.92 197.66 0.73 0.80 0.24 0.36 30.42 43.31 29% 22% 12.45 16.45 42.9 24.41 262.12 181.32 6.52 6.28 17.82 21.2 432.8

185 Ventura Textiles Ltd. Cloth (Fabrics) 65.88 80.75 0.88 0.87 1.63 2.07 12.41 5.68 19% 7% 24.65 20.18 52.88 46.04 25.17 17.52 239.08 444.91 25.81 17.28 433.6

186 Ruby Mills Ltd. Cloth (Fabrics) 108.55 119.05 0.53 0.53 0.40 0.24 26.89 26.36 25% 22% 39.25 36.23 92.44 190.13 45.37 49.9 52.46 53.84 8.38 9.08 433.9

187 Rajapalayam Mills Ltd. Cotton yarn 212.1 241.57 0.64 0.61 0.58 0.51 60.04 55.96 28% 23% 17.97 28.22 63.5 52.28 165.99 148.44 9.96 8.45 22.6 23.61 434.6

188 Aarvee Denims & Exports Ltd. Denim 250.95 251.92 0.66 0.73 0.57 0.58 59.18 39.38 24% 16% 37.08 50.39 175.26 47.14 75.87 49.08 11.24 20.97 24.26 32.73 434.8

189 Danube Fashions Ltd. [Merged] Apparels - knitted / crocheted 18.22 12.16 0.57 0.60 1.33 1.15 2.71 -1.18 15% -10% 107.37 169.45 45.36 27.14 35.23 63.94 57.26 61.17 12.99 28.86 435.0

190 S R Industries Ltd. Terry towelling & similar woven terry fabrics 40.22 36.08 0.59 0.66 0.99 1.13 5.03 5.37 13% 15% 24.91 39.46 52.27 64.17 38.38 44.98 88.87 110.14 11.47 18.4 435.3

191 Tubeknit Fashions Ltd. Apparels - knitted / crocheted 137.73 139.95 0.74 0.82 2.61 3.11 16.32 14.29 12% 10% NA 62.38 62.75 51.74 NA 59.41 NA 66.88 NA 20.08 437.2

192 Konark Synthetic Ltd. Textured yarn of synthetic filament yarn 26.4 59.21 0.86 0.88 2.56 1.55 2.02 4.48 8% 8% 48.14 84.15 77.08 101.35 7.43 34.12 36.12 88.58 24.19 14.86 437.3

193 K K P Textiles Ltd. Cotton yarn 141.1 237.53 0.69 0.80 3.69 5.08 19.62 12.91 14% 5% 36.2 23.48 45.3 24.35 80.64 68.34 42.75 26.4 28.79 17.86 437.5

194 Ginni International Ltd. Cotton yarn 186.12 210.28 0.77 0.81 0.86 1.04 26.05 13.25 14% 6% 27.25 33.31 23.4 26.64 107.9 72.58 17.46 21.45 18.32 15.26 438.6

195 Haryana Texprints (Overseas) Ltd. Cloth processed 27.02 32.25 0.83 0.84 2.86 3.59 2.49 3.09 9% 10% 71.15 75.31 93.74 91.65 49.73 54.66 43.74 52.42 12.58 17.43 439.0

196 Selection Synthetics Ltd. Man-made fabrics 43.59 47.23 0.74 0.79 2.89 3.92 2.85 -3.1 7% -7% 70.99 86.46 30.18 94.45 48.41 37.04 26.91 25.72 26.04 30.14 439.3

197 Amarjothi Spinning Mills Ltd. Cotton yarn 81.5 77.07 0.75 0.82 0.85 0.93 17.53 14.33 22% 19% 47.37 45.1 17.85 10.12 106.31 93.58 14.29 9.81 42.98 67.74 440.0

198 Super Sales India Ltd. Cotton yarn 104.21 97.14 0.53 0.64 0.62 0.62 31.98 30.96 31% 32% 30.07 40.05 48.04 65.57 157.92 172.22 9.72 8.73 14.25 28.77 440.1

199 Zenith Exports Ltd. Silk & silk textiles 210.93 238.34 0.74 0.76 2.53 3.05 15.14 14.27 7% 6% 48.51 53.62 42.67 43.92 59.95 48.94 21.7 17.57 53.73 47.62 440.4

200 V T M Ltd. Cloth (Fabrics) 107.61 94.46 0.73 0.79 1.24 1.28 15.98 10.11 15% 11% 19.41 29.13 14.3 12.65 28.26 39.66 20.29 24.16 38.31 52.31 440.4

201 G I V O Ltd. Men's suits, trousers, etc. knitted or crocheted 18.28 28.34 0.86 0.50 0.60 0.60 2.9 3.06 16% 11% 421.56 259.66 281.26 229.59 69.54 70.07 15.31 12.39 76.77 35.37 441.2

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers138

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

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net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 139

156 Southern Spinners & Processors Ltd. Cotton yarn 32.18 28.86 0.80 0.93 3.22 3.70 1.92 -0.67 6% -2% 51.06 32.99 19.32 30.42 99.98 58.28 5.72 5.61 25.78 33.79 403.4

157 Wires & Fabriks (S.A.) Ltd. Textile products for technical uses 44.78 49.63 0.41 0.43 0.31 0.39 10.14 11.1 23% 22% 111.07 112.69 67.72 77.88 112.48 131.46 22.35 19.07 14.64 12.81 406.0

158 Prathishta Weaving & Knitting Co. Ltd. Cotton & blended yarn 16.16 17.73 0.57 0.67 2.10 2.76 2.08 1.82 13% 10% 6.59 8.94 21.6 18.25 51.86 60.28 12.65 14.09 32.21 24.53 406.7

159 Rainbow Denim Ltd. Denim 106.69 122.22 0.73 0.70 0.54 0.62 4.9 5.72 5% 5% 55.24 44.51 135.49 121.45 49.99 42.41 11.61 9.21 24.52 17.23 408.4

160 Thanjavur Spinning Mill Ltd. Cotton yarn 35.45 41.54 0.77 0.61 0.68 0.47 7.85 6.2 22% 15% 15.8 16.64 73.79 15.79 137.31 119.79 7.64 6.24 39.78 29.86 409.8

161 Sree Vadivambigai Textile Mills Ltd. Cotton yarn 27.83 23.8 0.72 0.86 3.41 3.72 0.62 1.01 2% 4% 48.12 13.88 46.27 36.32 25.81 27.2 13.43 13.26 22.42 28.02 411.7

162 Prabartak Jute Mills Ltd. Jute & jute products 40.6 56.51 1.08 0.80 11.73 11.18 1.14 1.35 3% 2% 13.86 11.97 67.89 65.79 32.94 42.13 8.28 5.93 32.24 35.64 415.6

163 Sri Ram Spinning Mills Ltd. Cotton yarn 25.76 24.76 0.77 0.81 1.10 1.17 3.51 2.59 14% 10% 23.47 26.76 57.89 54.59 94.46 99.91 7.46 6.81 12.75 15.87 416.6

164 Riba Textiles Ltd. Towels including turkish towels 45.51 52.45 0.57 0.55 0.70 0.81 8.79 9.24 19% 18% 20.57 9.63 3.11 20.01 20.25 25.07 43.21 59.38 35.35 32.17 418.4

165 Addi Industries Ltd. Apparels - knitted / crocheted 8.48 16.93 0.44 0.33 0.54 0.51 -4.52 3.42 -53% 20% 22.57 30.62 23.31 30.82 146.94 116.77 8.89 8.2 62.54 37.06 419.4

166 Hind Syntex Ltd. Synthetic filament yarn other than sewing 78.59 78.15 0.84 0.95 1.29 1.59 5.93 0.89 8% 1% 26.06 18.17 33.4 35.42 29.75 29.62 12.37 11.88 15.63 21.15 420.7

167 Oswal Knit India Ltd. Apparels (Readymade garment) 62.99 65.86 0.85 0.89 7.09 8.58 3.54 3.59 6% 5% 118.11 105.79 237.12 259.83 55 63.15 1.61 1.81 96.88 122.43 420.8

168 Silver Spark Apparel Ltd. Apparels (Readymade garment) 73.44 93.38 0.77 0.67 1.09 1.16 7.25 14.42 10% 15% 41.96 42.96 105.31 68.23 46.39 54.19 21.4 18.25 32.73 23.83 421.3

169 Jaimurugan Textiles Ltd. Cotton yarn 24.55 22.63 0.94 0.97 1.45 1.48 2.88 1.94 12% 9% 67.48 87.25 126.35 159.85 41.67 36.5 5.15 6.14 22.47 52.45 421.5

170 Kallam Spinning Mills Ltd. Cotton & blended yarn 50.06 62.17 0.66 0.65 0.57 0.62 12.32 16.07 25% 26% 17.35 20.44 19.34 37.65 193.39 165.37 21.23 14.65 6.89 10.55 421.7

171 Ramaraju Surgical Cotton Mills Ltd. Cotton yarn 82.11 98.8 0.69 0.66 0.49 0.36 17.69 17.03 22% 17% 17 15.79 105.9 32.42 123.45 122.73 9.98 9.75 17.38 16.44 422.6

172 Richa Industries Ltd. Cloth processed 63.59 99.71 0.71 0.80 0.63 0.98 8.79 17.3 14% 17% 51.8 64.03 26.83 84.03 70.87 131.01 36.64 32.26 6.85 1.65 423.5

173 Euro Fashion Inners Intl. Pvt. Ltd. Apparels - knitted / crocheted 22.42 26.92 0.59 0.23 20.52 5.12 0.7 1.26 3% 5% 123.9 82.39 77.15 36.79 97.92 100.67 33.83 12.47 96.54 62.03 423.7

174 york Exports Ltd. Other garments, knitted or crocheted 7.54 10.11 0.40 0.62 1.39 2.96 1.04 1.24 14% 12% 25.68 16.02 39.69 43.61 72.29 39.84 25.84 22.63 56.34 38.1 424.1

175 Orbit Exports Ltd. Cloth (Fabrics) 27.21 39.06 0.90 0.89 6.49 7.08 2.52 4.39 9% 11% 40.31 33.51 26.88 32.79 45.08 40.02 17.21 13.76 62.29 65.61 424.3

176 Durairaj Mills Ltd. Cotton yarn 35.12 32.3 0.81 0.71 1.79 0.66 4.3 3.04 12% 9% 58.32 62.59 71.21 31.47 113.48 131.64 6.39 7.32 31.12 39 425.6

177 Vishnu Cotton Mills Ltd. Cotton yarn 52.03 48.07 0.79 0.83 1.54 1.63 6.38 5.23 12% 11% NA 23.78 50.91 80.1 NA 78.24 NA 14.13 NA 5.65 426.3

178 Madura Garments Exports Ltd. Apparels (Readymade garment) 145.25 211.75 0.82 0.84 2.07 2.14 6.76 -8.09 5% -4% 54.17 91.98 62.88 74.63 44.59 65.58 8.51 16.45 8.6 14.62 426.6

179 Van Tex Ltd. Cotton yarn 24.81 22.34 0.66 0.82 2.20 2.60 2.63 0.92 11% 4% 27.42 28.99 52.47 42.22 41.6 35.12 9.94 13.31 16.65 32.19 427.2

180 Veejay Lakshmi Textiles Ltd. Cotton yarn 33.38 37.92 0.75 0.79 0.70 0.68 3.9 -0.58 12% -2% 51.22 68.02 24.1 58.61 85.95 69.6 21.32 24.1 6.17 6.89 427.9

181 Sri Ramakrishna Mills (Coimbatore) Ltd. Cotton yarn 62.37 55.79 0.89 0.74 1.55 0.90 39.23 5.99 63% 11% 78.96 87.15 57.81 207.04 46.17 47.49 10.82 12.88 33.5 30.61 429.2

182 Guhan Textile Mills Pvt. Ltd. Cotton yarn 47.69 41.82 0.77 0.75 1.42 1.36 10.24 3.99 21% 10% 32.83 37.96 83.26 67.75 141.77 115.13 4.98 8.9 14.15 19.22 430.1

183 Modern Threads (India) Ltd. Cotton & blended yarn 86.29 82.94 0.79 0.79 1.38 1.44 183.46 12.35 213% 15% 49.41 33.37 111.65 119.02 28.96 34.89 20.7 17.11 16.97 23.36 432.4

184 Bannari Amman Spinning Mills Ltd. Cotton yarn 105.92 197.66 0.73 0.80 0.24 0.36 30.42 43.31 29% 22% 12.45 16.45 42.9 24.41 262.12 181.32 6.52 6.28 17.82 21.2 432.8

185 Ventura Textiles Ltd. Cloth (Fabrics) 65.88 80.75 0.88 0.87 1.63 2.07 12.41 5.68 19% 7% 24.65 20.18 52.88 46.04 25.17 17.52 239.08 444.91 25.81 17.28 433.6

186 Ruby Mills Ltd. Cloth (Fabrics) 108.55 119.05 0.53 0.53 0.40 0.24 26.89 26.36 25% 22% 39.25 36.23 92.44 190.13 45.37 49.9 52.46 53.84 8.38 9.08 433.9

187 Rajapalayam Mills Ltd. Cotton yarn 212.1 241.57 0.64 0.61 0.58 0.51 60.04 55.96 28% 23% 17.97 28.22 63.5 52.28 165.99 148.44 9.96 8.45 22.6 23.61 434.6

188 Aarvee Denims & Exports Ltd. Denim 250.95 251.92 0.66 0.73 0.57 0.58 59.18 39.38 24% 16% 37.08 50.39 175.26 47.14 75.87 49.08 11.24 20.97 24.26 32.73 434.8

189 Danube Fashions Ltd. [Merged] Apparels - knitted / crocheted 18.22 12.16 0.57 0.60 1.33 1.15 2.71 -1.18 15% -10% 107.37 169.45 45.36 27.14 35.23 63.94 57.26 61.17 12.99 28.86 435.0

190 S R Industries Ltd. Terry towelling & similar woven terry fabrics 40.22 36.08 0.59 0.66 0.99 1.13 5.03 5.37 13% 15% 24.91 39.46 52.27 64.17 38.38 44.98 88.87 110.14 11.47 18.4 435.3

191 Tubeknit Fashions Ltd. Apparels - knitted / crocheted 137.73 139.95 0.74 0.82 2.61 3.11 16.32 14.29 12% 10% NA 62.38 62.75 51.74 NA 59.41 NA 66.88 NA 20.08 437.2

192 Konark Synthetic Ltd. Textured yarn of synthetic filament yarn 26.4 59.21 0.86 0.88 2.56 1.55 2.02 4.48 8% 8% 48.14 84.15 77.08 101.35 7.43 34.12 36.12 88.58 24.19 14.86 437.3

193 K K P Textiles Ltd. Cotton yarn 141.1 237.53 0.69 0.80 3.69 5.08 19.62 12.91 14% 5% 36.2 23.48 45.3 24.35 80.64 68.34 42.75 26.4 28.79 17.86 437.5

194 Ginni International Ltd. Cotton yarn 186.12 210.28 0.77 0.81 0.86 1.04 26.05 13.25 14% 6% 27.25 33.31 23.4 26.64 107.9 72.58 17.46 21.45 18.32 15.26 438.6

195 Haryana Texprints (Overseas) Ltd. Cloth processed 27.02 32.25 0.83 0.84 2.86 3.59 2.49 3.09 9% 10% 71.15 75.31 93.74 91.65 49.73 54.66 43.74 52.42 12.58 17.43 439.0

196 Selection Synthetics Ltd. Man-made fabrics 43.59 47.23 0.74 0.79 2.89 3.92 2.85 -3.1 7% -7% 70.99 86.46 30.18 94.45 48.41 37.04 26.91 25.72 26.04 30.14 439.3

197 Amarjothi Spinning Mills Ltd. Cotton yarn 81.5 77.07 0.75 0.82 0.85 0.93 17.53 14.33 22% 19% 47.37 45.1 17.85 10.12 106.31 93.58 14.29 9.81 42.98 67.74 440.0

198 Super Sales India Ltd. Cotton yarn 104.21 97.14 0.53 0.64 0.62 0.62 31.98 30.96 31% 32% 30.07 40.05 48.04 65.57 157.92 172.22 9.72 8.73 14.25 28.77 440.1

199 Zenith Exports Ltd. Silk & silk textiles 210.93 238.34 0.74 0.76 2.53 3.05 15.14 14.27 7% 6% 48.51 53.62 42.67 43.92 59.95 48.94 21.7 17.57 53.73 47.62 440.4

200 V T M Ltd. Cloth (Fabrics) 107.61 94.46 0.73 0.79 1.24 1.28 15.98 10.11 15% 11% 19.41 29.13 14.3 12.65 28.26 39.66 20.29 24.16 38.31 52.31 440.4

201 G I V O Ltd. Men's suits, trousers, etc. knitted or crocheted 18.28 28.34 0.86 0.50 0.60 0.60 2.9 3.06 16% 11% 421.56 259.66 281.26 229.59 69.54 70.07 15.31 12.39 76.77 35.37 441.2

te

xt

ile

sRank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 142: Reinventing the Supply Chain

202 Shamken Multifab Ltd. Cloth (Fabrics) 36.53 24.3 0.66 0.71 0.10 0.08 0.25 -1.14 1% -5% 68.9 87.58 87.45 112.26 54.42 88.61 4.3 5.13 23.07 27.78 441.8

203 Birla Cotsyn India Ltd. Textured yarn of synthetic filament yarn 54 85.18 0.86 0.84 1.00 0.59 4.97 5.76 9% 7% 32.39 46.15 76.78 87.34 19.55 30.77 7.71 13.75 18.25 21.96 442.2

204 Baroda Rayon Corpn. Ltd. Synthetic filament yarn other than sewing 94.9 176.79 0.97 0.94 0.33 0.66 -2.68 -26.01 -3% -15% 11.62 10.87 315.19 234.23 14.07 10.46 9.9 9.63 19.81 13.58 442.4

205 Seyad Cotton Mills Ltd. Cotton yarn 37.55 29.8 0.59 0.69 0.58 0.53 9.5 7.31 25% 25% 44.12 61.18 12.74 22.3 114.05 116.5 8.93 23.51 18.7 31.89 443.2

206 Ganges Manufacturing Co. Ltd. Jute & jute products 141.16 124.02 0.83 1.05 21.69 26.47 2.04 4.04 1% 3% 70.53 74.59 106.65 146.63 54.38 61.1 6.02 6.13 19.71 41.76 443.6

207 Vast Textiles Ltd. Cotton yarn 106.51 104.76 0.84 0.89 1.61 1.83 13.53 5.92 13% 6% 41.7 57.02 13.3 101.69 89.33 70.1 23.28 36.79 3.19 3.55 444.0

208 Bengal Tea & Fabrics Ltd. Cotton yarn 116.19 126.85 0.71 0.70 1.25 1.33 19.31 14.58 17% 11% 20.03 24.54 42.33 47.56 118.46 93.88 19.96 22.29 11.9 15.24 444.7

209 Bhilwara Processors Ltd. Cloth processed 24.39 25.32 0.76 0.78 0.67 0.74 2.15 1.81 9% 7% 28.67 29.78 107.03 147.99 65.69 79.72 12.34 16.88 1.5 0.38 445.0

210 Aunde Faze Three Ltd. Coated / laminated textile fabrics 57.96 65.11 0.74 0.65 1.29 1.02 9.14 11.15 16% 17% 79.62 101.16 37.02 81.92 44.62 57.98 17.83 17.12 55.72 63.86 445.7

211 Winsome Textile Inds. Ltd. Cotton yarn 145.17 163.39 0.71 0.72 0.71 0.67 27.37 28.79 19% 18% 36.66 37.82 99.02 95.66 39.15 34.51 21.59 22.57 22.19 31.03 446.9

212 Jagjanani Textiles Ltd. Cotton yarn 18.03 35.49 0.67 0.81 0.83 0.58 4.92 4.66 27% 13% 65.73 53.43 55.13 93.38 243 147.84 14.99 25.27 2.61 0.39 447.1

213 Rai Saheb Rekhchand Mohota Spg. & Wvg. Cotton & blended yarn 125.99 154.46 0.84 0.82 2.16 1.75 10.51 8.14 8% 5% 58.66 52.46 44.3 62.97 45.39 51.03 59.94 64.1 11.88 13.54 449.0

214 Pasupati Fabrics Ltd. Cloth (Fabrics) 56.81 25.43 0.66 0.78 0.55 0.36 -5.71 -9.84 -10% -39% 39.33 52.39 70.88 106.87 18.31 33.77 60.92 47.29 13.08 8.38 449.1

215 Nutech Global Ltd. Woven fabrics of man-made filaments 24.21 25.32 0.79 0.81 2.69 3.03 1.87 1.98 8% 8% 48.61 48.42 39.02 34.68 30.63 45.7 20.25 31.16 35.96 45.18 449.7

216 Kumaragiri Textiles Ltd. Cotton yarn 26.81 28.05 0.74 0.64 1.30 0.99 4.61 4.46 17% 16% 17.73 18.36 165.41 120.83 119.76 72.87 4.79 4.86 58.18 45.02 454.8

217 Arthanari Loom Centre (Textile) Ltd. Cloth (Fabrics) 51.87 61.69 0.84 0.65 1.48 1.28 6.83 8.51 13% 14% 50.31 37.77 66.25 73.85 27.23 40.54 38.36 42.86 32.78 35.78 454.9

218 Gangotri Textiles Ltd. Cotton yarn 166.64 158.8 0.69 0.79 0.34 0.35 25.61 19.61 15% 12% 39.68 49.52 66.45 55.53 53.24 54.48 8.48 8.76 38.79 72.62 455.7

219 Patspin India Ltd. Cotton yarn 138.16 160.39 0.73 0.86 0.80 0.56 18.16 13.57 13% 8% 18.14 29.02 19.19 35.85 106.98 92.16 9.65 11.09 16.63 18.38 457.6

220 Sky Industries Ltd. Rubberised textile fabrics (elastic tapes) 62.93 63.04 0.78 0.61 2.04 1.70 6.49 6.37 10% 10% 50.56 59.97 125.25 86.07 31.93 39.49 47.98 46.01 35.54 42.9 457.6

221 Voith Paper Fabrics India Ltd. Felt 46.49 47.69 0.46 0.41 0.84 0.74 17.56 18.27 38% 38% 65.9 62.02 42.61 39.35 147.1 160.01 22.86 25.68 31.76 35.07 458.4

222 Anjani Fabrics Ltd. Cloth (Fabrics) 112.66 86.3 0.80 0.93 5.14 3.40 7.05 8.98 6% 10% 44.61 68.54 63.13 117.32 33.25 61.21 14.4 18.7 8.8 24.92 458.6

223 Himatsingka Seide Ltd. Woven fabrics of silk 200.56 261.2 0.51 0.79 0.29 0.42 79.23 13.35 40% 5% 74.48 73.48 49.24 49.02 88.19 61.51 83.22 69.15 14.63 13.65 462.6

224 Kandagiri Spinning Mills Ltd. Cotton yarn 94.31 88.71 0.77 0.69 0.84 0.53 21.86 21.39 23% 24% 28.18 42.32 51.86 64.58 103.85 127.79 19.35 23.14 11.99 16.4 462.9

225 Mudra Lifestyle Ltd. Cloth (Fabrics) 164.23 272.55 0.87 1.01 2.56 2.53 26.61 46.22 16% 17% 70.3 73.28 69.13 60.34 46.2 42.16 49.13 38.58 26.51 45.67 463.2

226 Sabare International Ltd. Other textile articles 242.3 154.96 0.69 0.88 1.87 1.26 38.32 3.84 16% 2% 88.39 104.8 25.69 43.7 53.35 97.39 53.99 69.17 11.63 11.78 465.2

227 Indo Count Inds. Ltd. Cotton yarn 257.15 291.15 0.81 0.83 0.75 0.88 20.59 16.88 8% 6% 46.69 41.96 78.1 88.14 60.19 48.6 13.45 26.14 7.71 13.26 466.7

228 Indian Card Clothing Co. Ltd. Metallised yarn 52.7 51.33 0.51 0.59 0.65 0.66 21.92 9.38 42% 18% 61.61 67.71 74.57 124.87 114.12 91.98 31.37 33.85 21.56 19.5 466.7

229 S R F Polymers Ltd. Synthetic filament yarn other than sewing 163.94 168.7 0.83 0.78 2.13 1.60 12.27 -0.49 7% 0% 56.66 42.48 82.17 101.99 56.27 49.25 14.6 13.33 27.63 26.44 467.0

230 Garware Marine Inds. Ltd. Fishing nets 16.77 12.29 0.65 0.90 4.25 4.52 1.78 1.45 11% 12% 89.26 129.44 60.16 76.6 46.46 45.69 75.4 71.21 40.54 44.82 467.1

231 Arasan Syntex Ltd. Cotton yarn 26.06 24.06 0.60 0.62 0.75 0.79 6.17 5.93 24% 25% 1.18 0.23 16.34 26 102.72 138.19 9 11.22 23.9 36.52 467.7

232 Sambandam Spinning Mills Ltd. Cotton yarn 135.68 133.24 0.64 0.72 0.71 0.64 33.69 26.44 25% 20% 25.11 43.25 55.67 46.33 147.61 117.47 32.09 29.45 17.29 18.22 467.8

233 Harshni Textiles Ltd. Cotton yarn 40.26 44.31 0.80 0.74 0.95 0.39 7.93 4.48 20% 10% 40.99 41.69 26.64 52.68 203.34 207.87 6.19 5.2 36.79 39.17 469.4

234 Donear Industries Ltd. Man-made fabrics 164.75 179.81 0.63 0.69 1.04 0.71 28.88 30.39 18% 17% 111.65 110.05 43.1 45.07 87.56 99.13 29.53 43.18 32.91 37.93 469.6

235 Vanasthali Textile Inds. Ltd. Towels including turkish towels 108.6 108.61 0.75 0.76 1.24 1.33 11.35 6.28 10% 6% 56.09 52.27 47.41 90.6 30.6 24.25 31.77 26.26 47.62 50.63 470.4

236 Faze Three Ltd. Cotton durries 123.08 126.5 0.72 0.66 1.08 0.84 19.53 19.42 16% 15% 38.13 75.66 47.96 64.2 58.81 74.94 13.61 19.75 46.39 57.69 471.2

237 Morarjee Textiles Ltd. Cloth (Fabrics) 211.92 172.38 0.58 0.61 0.80 0.68 29.6 3.26 14% 2% 62.6 74.79 74.44 79.9 39.1 48.92 52.18 75.36 16.61 20.71 471.9

238 Anisa Carpets Ltd. Carpets, etc. 17.38 17.59 0.31 0.41 1.02 1.41 0.57 0.7 3% 4% 58.74 88.71 60.87 57.73 81.83 94.4 44.77 51.2 54.85 25.68 472.2

239 Colorplus Fashions Ltd. Apparels (Readymade garment) 121.82 147.21 0.60 0.59 3.20 2.98 23.01 17.05 19% 12% 20.51 25.4 51.84 37.68 63.3 59.39 25.68 27.23 78.21 88.05 474.1

240 Lakshmi Mills Co. Ltd. Cotton & blended yarn 147.24 103.1 0.82 0.68 0.78 0.41 17.2 3.04 12% 3% 15.98 29.44 58.66 48.97 34.85 45.35 7.02 10.1 40.43 54.01 474.2

241 G T N Textiles Ltd. Cotton yarn 115.78 113.83 0.74 0.85 1.21 1.08 13.61 11.7 12% 10% 21.98 29.72 36.49 58.38 95.9 115.23 6.12 6.02 27.79 36.81 474.7

242 Bally Jute Co. Ltd. Jute & jute products 94.62 100.14 0.86 0.84 0.98 0.99 7.65 8.29 8% 8% 23.52 19.32 21.79 27.52 73.6 75.55 13.14 15.37 21.12 22.65 475.9

243 Kish Exports Ltd. Women's overcoats, etc. knitted or crocheted 109.41 83.02 0.49 0.43 3.61 2.53 6.92 4.16 6% 5% 5.22 3.44 38.07 57 167.25 207.14 9.25 11.59 20.32 18.17 476.4

244 K G Fabriks Ltd. Cloth (Fabrics) 34.79 75.71 1.18 0.66 0.62 0.67 1 -0.95 3% -1% NA 68.28 150.06 114.11 NA 22.98 NA 45.5 NA 38.22 477.1

245 J J Exporters Ltd. Silk & silk textiles 95.94 101.67 0.71 0.65 1.57 1.39 17.28 7.76 18% 8% 67.54 64.45 27.31 24.88 86.68 85.04 69.12 63.5 44.98 45.95 478.8

246 Supreme Tex Mart Ltd. Synthetic staple fibres, not carded or combed 118 165.81 0.83 0.87 1.28 0.78 18.12 25.79 15% 16% 35.43 59.56 59.76 150.77 58.41 66.31 7.98 12.75 27.41 30.53 480.5

247 G T N Industries Ltd. Cotton yarn 187.42 280.66 0.78 0.78 0.85 1.21 24.69 25.32 13% 9% 20.29 20.25 35.61 22.36 122.74 110.35 23.29 24.2 26.32 21.73 481.0

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers140

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 143: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 141

202 Shamken Multifab Ltd. Cloth (Fabrics) 36.53 24.3 0.66 0.71 0.10 0.08 0.25 -1.14 1% -5% 68.9 87.58 87.45 112.26 54.42 88.61 4.3 5.13 23.07 27.78 441.8

203 Birla Cotsyn India Ltd. Textured yarn of synthetic filament yarn 54 85.18 0.86 0.84 1.00 0.59 4.97 5.76 9% 7% 32.39 46.15 76.78 87.34 19.55 30.77 7.71 13.75 18.25 21.96 442.2

204 Baroda Rayon Corpn. Ltd. Synthetic filament yarn other than sewing 94.9 176.79 0.97 0.94 0.33 0.66 -2.68 -26.01 -3% -15% 11.62 10.87 315.19 234.23 14.07 10.46 9.9 9.63 19.81 13.58 442.4

205 Seyad Cotton Mills Ltd. Cotton yarn 37.55 29.8 0.59 0.69 0.58 0.53 9.5 7.31 25% 25% 44.12 61.18 12.74 22.3 114.05 116.5 8.93 23.51 18.7 31.89 443.2

206 Ganges Manufacturing Co. Ltd. Jute & jute products 141.16 124.02 0.83 1.05 21.69 26.47 2.04 4.04 1% 3% 70.53 74.59 106.65 146.63 54.38 61.1 6.02 6.13 19.71 41.76 443.6

207 Vast Textiles Ltd. Cotton yarn 106.51 104.76 0.84 0.89 1.61 1.83 13.53 5.92 13% 6% 41.7 57.02 13.3 101.69 89.33 70.1 23.28 36.79 3.19 3.55 444.0

208 Bengal Tea & Fabrics Ltd. Cotton yarn 116.19 126.85 0.71 0.70 1.25 1.33 19.31 14.58 17% 11% 20.03 24.54 42.33 47.56 118.46 93.88 19.96 22.29 11.9 15.24 444.7

209 Bhilwara Processors Ltd. Cloth processed 24.39 25.32 0.76 0.78 0.67 0.74 2.15 1.81 9% 7% 28.67 29.78 107.03 147.99 65.69 79.72 12.34 16.88 1.5 0.38 445.0

210 Aunde Faze Three Ltd. Coated / laminated textile fabrics 57.96 65.11 0.74 0.65 1.29 1.02 9.14 11.15 16% 17% 79.62 101.16 37.02 81.92 44.62 57.98 17.83 17.12 55.72 63.86 445.7

211 Winsome Textile Inds. Ltd. Cotton yarn 145.17 163.39 0.71 0.72 0.71 0.67 27.37 28.79 19% 18% 36.66 37.82 99.02 95.66 39.15 34.51 21.59 22.57 22.19 31.03 446.9

212 Jagjanani Textiles Ltd. Cotton yarn 18.03 35.49 0.67 0.81 0.83 0.58 4.92 4.66 27% 13% 65.73 53.43 55.13 93.38 243 147.84 14.99 25.27 2.61 0.39 447.1

213 Rai Saheb Rekhchand Mohota Spg. & Wvg. Cotton & blended yarn 125.99 154.46 0.84 0.82 2.16 1.75 10.51 8.14 8% 5% 58.66 52.46 44.3 62.97 45.39 51.03 59.94 64.1 11.88 13.54 449.0

214 Pasupati Fabrics Ltd. Cloth (Fabrics) 56.81 25.43 0.66 0.78 0.55 0.36 -5.71 -9.84 -10% -39% 39.33 52.39 70.88 106.87 18.31 33.77 60.92 47.29 13.08 8.38 449.1

215 Nutech Global Ltd. Woven fabrics of man-made filaments 24.21 25.32 0.79 0.81 2.69 3.03 1.87 1.98 8% 8% 48.61 48.42 39.02 34.68 30.63 45.7 20.25 31.16 35.96 45.18 449.7

216 Kumaragiri Textiles Ltd. Cotton yarn 26.81 28.05 0.74 0.64 1.30 0.99 4.61 4.46 17% 16% 17.73 18.36 165.41 120.83 119.76 72.87 4.79 4.86 58.18 45.02 454.8

217 Arthanari Loom Centre (Textile) Ltd. Cloth (Fabrics) 51.87 61.69 0.84 0.65 1.48 1.28 6.83 8.51 13% 14% 50.31 37.77 66.25 73.85 27.23 40.54 38.36 42.86 32.78 35.78 454.9

218 Gangotri Textiles Ltd. Cotton yarn 166.64 158.8 0.69 0.79 0.34 0.35 25.61 19.61 15% 12% 39.68 49.52 66.45 55.53 53.24 54.48 8.48 8.76 38.79 72.62 455.7

219 Patspin India Ltd. Cotton yarn 138.16 160.39 0.73 0.86 0.80 0.56 18.16 13.57 13% 8% 18.14 29.02 19.19 35.85 106.98 92.16 9.65 11.09 16.63 18.38 457.6

220 Sky Industries Ltd. Rubberised textile fabrics (elastic tapes) 62.93 63.04 0.78 0.61 2.04 1.70 6.49 6.37 10% 10% 50.56 59.97 125.25 86.07 31.93 39.49 47.98 46.01 35.54 42.9 457.6

221 Voith Paper Fabrics India Ltd. Felt 46.49 47.69 0.46 0.41 0.84 0.74 17.56 18.27 38% 38% 65.9 62.02 42.61 39.35 147.1 160.01 22.86 25.68 31.76 35.07 458.4

222 Anjani Fabrics Ltd. Cloth (Fabrics) 112.66 86.3 0.80 0.93 5.14 3.40 7.05 8.98 6% 10% 44.61 68.54 63.13 117.32 33.25 61.21 14.4 18.7 8.8 24.92 458.6

223 Himatsingka Seide Ltd. Woven fabrics of silk 200.56 261.2 0.51 0.79 0.29 0.42 79.23 13.35 40% 5% 74.48 73.48 49.24 49.02 88.19 61.51 83.22 69.15 14.63 13.65 462.6

224 Kandagiri Spinning Mills Ltd. Cotton yarn 94.31 88.71 0.77 0.69 0.84 0.53 21.86 21.39 23% 24% 28.18 42.32 51.86 64.58 103.85 127.79 19.35 23.14 11.99 16.4 462.9

225 Mudra Lifestyle Ltd. Cloth (Fabrics) 164.23 272.55 0.87 1.01 2.56 2.53 26.61 46.22 16% 17% 70.3 73.28 69.13 60.34 46.2 42.16 49.13 38.58 26.51 45.67 463.2

226 Sabare International Ltd. Other textile articles 242.3 154.96 0.69 0.88 1.87 1.26 38.32 3.84 16% 2% 88.39 104.8 25.69 43.7 53.35 97.39 53.99 69.17 11.63 11.78 465.2

227 Indo Count Inds. Ltd. Cotton yarn 257.15 291.15 0.81 0.83 0.75 0.88 20.59 16.88 8% 6% 46.69 41.96 78.1 88.14 60.19 48.6 13.45 26.14 7.71 13.26 466.7

228 Indian Card Clothing Co. Ltd. Metallised yarn 52.7 51.33 0.51 0.59 0.65 0.66 21.92 9.38 42% 18% 61.61 67.71 74.57 124.87 114.12 91.98 31.37 33.85 21.56 19.5 466.7

229 S R F Polymers Ltd. Synthetic filament yarn other than sewing 163.94 168.7 0.83 0.78 2.13 1.60 12.27 -0.49 7% 0% 56.66 42.48 82.17 101.99 56.27 49.25 14.6 13.33 27.63 26.44 467.0

230 Garware Marine Inds. Ltd. Fishing nets 16.77 12.29 0.65 0.90 4.25 4.52 1.78 1.45 11% 12% 89.26 129.44 60.16 76.6 46.46 45.69 75.4 71.21 40.54 44.82 467.1

231 Arasan Syntex Ltd. Cotton yarn 26.06 24.06 0.60 0.62 0.75 0.79 6.17 5.93 24% 25% 1.18 0.23 16.34 26 102.72 138.19 9 11.22 23.9 36.52 467.7

232 Sambandam Spinning Mills Ltd. Cotton yarn 135.68 133.24 0.64 0.72 0.71 0.64 33.69 26.44 25% 20% 25.11 43.25 55.67 46.33 147.61 117.47 32.09 29.45 17.29 18.22 467.8

233 Harshni Textiles Ltd. Cotton yarn 40.26 44.31 0.80 0.74 0.95 0.39 7.93 4.48 20% 10% 40.99 41.69 26.64 52.68 203.34 207.87 6.19 5.2 36.79 39.17 469.4

234 Donear Industries Ltd. Man-made fabrics 164.75 179.81 0.63 0.69 1.04 0.71 28.88 30.39 18% 17% 111.65 110.05 43.1 45.07 87.56 99.13 29.53 43.18 32.91 37.93 469.6

235 Vanasthali Textile Inds. Ltd. Towels including turkish towels 108.6 108.61 0.75 0.76 1.24 1.33 11.35 6.28 10% 6% 56.09 52.27 47.41 90.6 30.6 24.25 31.77 26.26 47.62 50.63 470.4

236 Faze Three Ltd. Cotton durries 123.08 126.5 0.72 0.66 1.08 0.84 19.53 19.42 16% 15% 38.13 75.66 47.96 64.2 58.81 74.94 13.61 19.75 46.39 57.69 471.2

237 Morarjee Textiles Ltd. Cloth (Fabrics) 211.92 172.38 0.58 0.61 0.80 0.68 29.6 3.26 14% 2% 62.6 74.79 74.44 79.9 39.1 48.92 52.18 75.36 16.61 20.71 471.9

238 Anisa Carpets Ltd. Carpets, etc. 17.38 17.59 0.31 0.41 1.02 1.41 0.57 0.7 3% 4% 58.74 88.71 60.87 57.73 81.83 94.4 44.77 51.2 54.85 25.68 472.2

239 Colorplus Fashions Ltd. Apparels (Readymade garment) 121.82 147.21 0.60 0.59 3.20 2.98 23.01 17.05 19% 12% 20.51 25.4 51.84 37.68 63.3 59.39 25.68 27.23 78.21 88.05 474.1

240 Lakshmi Mills Co. Ltd. Cotton & blended yarn 147.24 103.1 0.82 0.68 0.78 0.41 17.2 3.04 12% 3% 15.98 29.44 58.66 48.97 34.85 45.35 7.02 10.1 40.43 54.01 474.2

241 G T N Textiles Ltd. Cotton yarn 115.78 113.83 0.74 0.85 1.21 1.08 13.61 11.7 12% 10% 21.98 29.72 36.49 58.38 95.9 115.23 6.12 6.02 27.79 36.81 474.7

242 Bally Jute Co. Ltd. Jute & jute products 94.62 100.14 0.86 0.84 0.98 0.99 7.65 8.29 8% 8% 23.52 19.32 21.79 27.52 73.6 75.55 13.14 15.37 21.12 22.65 475.9

243 Kish Exports Ltd. Women's overcoats, etc. knitted or crocheted 109.41 83.02 0.49 0.43 3.61 2.53 6.92 4.16 6% 5% 5.22 3.44 38.07 57 167.25 207.14 9.25 11.59 20.32 18.17 476.4

244 K G Fabriks Ltd. Cloth (Fabrics) 34.79 75.71 1.18 0.66 0.62 0.67 1 -0.95 3% -1% NA 68.28 150.06 114.11 NA 22.98 NA 45.5 NA 38.22 477.1

245 J J Exporters Ltd. Silk & silk textiles 95.94 101.67 0.71 0.65 1.57 1.39 17.28 7.76 18% 8% 67.54 64.45 27.31 24.88 86.68 85.04 69.12 63.5 44.98 45.95 478.8

246 Supreme Tex Mart Ltd. Synthetic staple fibres, not carded or combed 118 165.81 0.83 0.87 1.28 0.78 18.12 25.79 15% 16% 35.43 59.56 59.76 150.77 58.41 66.31 7.98 12.75 27.41 30.53 480.5

247 G T N Industries Ltd. Cotton yarn 187.42 280.66 0.78 0.78 0.85 1.21 24.69 25.32 13% 9% 20.29 20.25 35.61 22.36 122.74 110.35 23.29 24.2 26.32 21.73 481.0

te

xt

ile

sRank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 144: Reinventing the Supply Chain

248 Grabal Alok Impex Ltd. Special woven fabrics 98.85 128.91 0.53 0.52 0.60 0.43 32.78 45.01 33% 35% 37.51 46.13 33.02 74.7 58.86 54.09 93.93 128.77 40 33.37 483.8

249 Kanco Enterprises Ltd. Cotton yarn 86.41 100.16 0.70 0.77 0.80 1.08 9.75 4.77 11% 5% 9.56 7.67 60.14 67.35 102.61 68.91 9.64 9.77 17.06 22.34 484.8

250 Chandra Textiles Ltd. Cotton yarn 28.95 24.33 0.63 0.66 1.63 0.88 5.1 3.44 18% 14% 20.53 27.68 58.84 100.6 67.3 60.89 40.61 50.03 15.07 18.39 487.4

251 Tuticorin Spinning Mills Ltd. Cotton yarn 32.59 29.73 0.59 0.76 0.84 0.70 7.49 8.32 23% 28% 11.96 12.05 46.2 39.22 129.66 115.62 11.97 9.18 36.62 45.64 487.4

252 Priyadarshini Spinning Mills Ltd. Synthetic filament yarn other than sewing 185.04 195.4 0.80 0.86 1.17 1.24 16.91 12.87 9% 7% 28.65 27.22 57.75 76.29 36.21 31.26 28.17 28.01 21.01 27.12 489.1

253 Sulochana Cotton Spg. Mills Pvt. Ltd. Cotton yarn 110.09 131.5 0.70 0.85 0.73 0.79 26.6 26 24% 20% 28.47 28.67 37.65 36.1 120.59 110.47 16.12 9.42 39.79 58.99 490.5

254 Ambika Cotton Mills Ltd. Cotton yarn 142.54 167.41 0.63 0.63 0.42 0.36 31.44 51.58 22% 31% 9.44 10.43 146.09 102.99 484.57 427.93 10.36 10.93 16.21 15.83 490.7

255 Indoworth India Ltd. Wool yarn 220.61 179.33 0.68 0.81 1.18 1.24 3.47 6.21 2% 3% NA 201.98 278.91 391.47 NA 33.38 NA 25.6 NA 46.97 491.1

256 Trigger Apparels Ltd. Apparels (Readymade garment) 13.71 25.1 1.00 0.51 114.58 19.53 0.31 -1.19 2% -5% 73.75 70.06 183.43 189.9 31.8 43.85 92.09 86.1 46.63 51.03 493.1

257 L S Mills Ltd. Cotton yarn 104.58 118.62 0.58 0.66 0.47 0.44 29.96 27.74 29% 23% NA 29.11 134.26 152.87 NA 272.07 NA 19.18 NA 12 493.2

258 Cheslind Textiles Ltd. Cotton yarn 124.73 99.69 0.71 0.82 0.85 0.77 15.44 7.59 12% 8% 24.73 43.26 50.28 40.87 127.13 112.93 13.74 12.7 20.86 33.41 495.4

259 Sri Lakshmi Saraswathi Textiles (Arni) Ltd. Cotton yarn 77.36 68.08 0.73 0.85 1.93 1.95 11.14 3.17 14% 5% 23.56 39.56 19.51 35.83 137.87 103.85 15.91 13.59 23.18 37.1 495.6

260 Shri Renuga Textiles Ltd. Cotton yarn 134.5 208.61 0.77 0.67 1.18 0.70 26.41 26.56 20% 13% 95.77 66.47 89.66 51.85 123.52 95.87 41.74 35.8 52.4 39.33 497.0

261 Silktex Ltd. Silk fabrics, processed 32.32 27.53 0.64 0.51 0.89 0.54 8.83 6.66 27% 24% 60.59 67.62 24.08 38.62 53.79 77.36 129.05 203.97 70.61 84.13 498.4

262 Santosh Fine-Fab Ltd. Cloth (Fabrics) 26.6 26.17 0.84 0.80 5.69 5.97 1.31 1.43 5% 5% 76.27 86.28 68.36 63.43 81.23 68.62 54.51 50.54 51.61 58.14 500.0

263 Abhishek Corporation Ltd. Cotton yarn 81.44 69.64 0.66 0.49 0.67 0.14 34.24 14.85 42% 21% 67.37 130.4 86.42 145.13 119.78 260.81 85.56 32.56 17.68 25.98 501.5

264 Rajvir Industries Ltd. Cotton yarn 165.9 191.35 0.89 0.83 1.32 0.98 26.43 27.67 16% 14% 29.29 28.05 61.65 74.07 74.83 78.37 10.19 11.81 18.4 37.71 504.1

265 Soma Textiles & Inds. Ltd. Cotton & blended yarn 196.31 199.44 0.82 0.79 1.11 1.00 30.11 13 15% 7% 28.39 36 31.41 53.26 60.59 49.97 36.75 47.65 31.16 36.51 510.2

266 Mafatlal Denim Ltd. Denim 81.39 77.77 0.65 0.90 0.55 0.62 9 -8.68 11% -11% 70.31 67.46 29.76 51.68 123.5 53.9 19.06 22.46 37.68 36.65 510.3

267 Page Industries Ltd. Apparels (Readymade garment) 137.27 195.6 0.61 0.56 3.35 2.49 29.46 41.16 21% 21% 14.77 13.45 70.07 77.67 66.56 74.37 22.54 24.83 40.93 50.76 511.6

268 K G Denim Ltd. Cloth (Fabrics) 215.73 220.55 0.59 0.53 0.91 0.88 17.09 18.54 8% 8% 37.29 46.54 84.67 93.26 74.32 57.33 22.04 24.38 62 60.02 511.7

269 Vijayeswari Textiles Ltd. Cotton yarn 149.08 141.92 0.56 0.55 1.30 0.81 29.12 31.52 20% 22% 103.84 136.24 80.94 85.25 52.96 87.84 140.33 191.82 44.5 67.46 512.0

270 Ashima Ltd. Cloth (Fabrics) 236.34 223.33 0.70 0.71 0.58 0.63 -2.12 -23.28 -1% -10% 21.2 23.47 55.51 57.99 43.74 41.3 18.92 17.2 43.6 40.55 512.5

271 Indus League Clothing Ltd. Apparels (Readymade garment) 95.08 175.87 0.65 0.93 7.56 7.14 -1.66 10.7 -2% 6% 63.48 101.52 63.93 121.71 23.8 45.14 31.82 46.78 33.79 78.77 513.3

272 Pal Synthetics Ltd. Cloth (Fabrics) 20.26 19.67 0.67 0.81 14.05 14.29 1.12 0.36 6% 2% 133.97 130.73 111.67 106.69 75.65 68.29 68.11 74.83 40.59 41.59 515.8

273 Prime Textiles Ltd. Cotton yarn 117.06 106.45 0.76 0.60 1.34 1.05 9.76 8.13 8% 8% 20.94 18.53 84.36 111.61 109.7 78.79 13.96 8.11 72.08 82.52 517.0

274 Eurotex Industries & Exports Ltd. Cotton yarn 165.09 139.94 0.78 0.78 1.00 0.89 20.24 13.12 12% 9% 11.51 15.57 32.93 42.82 188.52 172.24 8.76 10.38 31.51 38.42 523.3

275 Sree Satyanarayana Spg. Mills Ltd. Cotton yarn 24.04 23.92 0.71 0.67 8.68 8.72 2.82 -0.73 12% -3% 17.86 22.54 37.67 48.6 124.53 125.23 55.59 42.74 18.95 29.39 524.3

276 Sundaram Textiles Ltd. Cotton yarn 39.86 34.41 0.70 0.70 0.84 0.72 7.94 6.68 20% 19% 39.19 61.06 59.63 68.81 272.68 301.2 18.63 27.3 29.76 40.96 533.0

277 Tamilnadu Jai Bharath Mills Ltd. Cotton yarn 59.55 59.72 0.81 0.77 1.43 0.94 8.69 3.91 15% 7% 47.37 51.31 40.28 55.9 216.56 207.63 10.94 14.67 35.19 41.15 537.8

278 Himachal Fibres Ltd. Cotton yarn 2.85 37.14 1.16 0.98 0.28 1.83 28.17 5 988% 13% 43.31 21.05 843.18 106.74 323.4 67.47 10.63 12.53 528.84 57.31 538.5

279 Winsome yarns Ltd. Cotton yarn 128.46 186.37 0.70 0.72 0.47 0.49 27.17 39.67 21% 21% 33.39 56.24 132.11 139.57 155.71 112.44 19.94 26.72 37.01 38.11 538.7

280 Ashima Dyecot Ltd. Cloth processed 121.25 126.17 0.71 0.72 0.77 1.06 2.42 -44.86 2% -36% 11.72 11.14 74 72.96 44.14 54.6 29.08 17.04 54.36 39.45 547.2

281 Digjam Ltd. Wool & woollen textiles 111.16 112.61 0.67 0.67 0.90 1.00 -6.69 6.67 -6% 6% 100.06 100.1 139.13 149.06 79.81 70.87 72.29 80.77 54.57 56 549.4

282 Uniworth Textiles Ltd. Wool & woollen textiles 37.06 31.51 0.82 0.88 1.17 1.18 -1.43 -4.27 -4% -14% 648.62 722.67 716.96 872.06 50.71 33.87 307.53 283.32 55.8 62.64 551.8

283 B S L Ltd. Woven blended fabrics of synthetic staple 139.74 120.87 0.45 0.44 0.65 0.59 16.31 11.95 12% 10% 70.08 91.55 60.47 68.69 105.66 175.65 52.45 64.76 49.41 63.7 552.6

284 A I Champdany Inds. Ltd. Jute yarn 245.5 272.6 0.75 0.86 1.84 2.30 17.09 16.28 7% 6% 28.81 28.64 71.94 78.76 102.63 98.83 17.63 12.42 68.85 78.73 556.9

285 Shri Dinesh Mills Ltd. Woven fabrics of wool 74.98 79.96 0.42 0.47 0.73 0.91 20.11 17.71 27% 22% 33.19 32.06 126.88 109.99 155.85 138.86 90.56 87.35 40.87 37.06 558.1

286 Sri Nachammai Cotton Mills Ltd. Cotton yarn 88.14 59.3 0.69 0.95 3.09 2.74 6.84 2.05 8% 3% 28.43 35.14 58.42 67.1 131.35 164.57 9.07 14.12 26.08 39.14 560.5

287 Samtex Fashions Ltd. Men's suits, trousers, etc. knitted or crocheted 67.24 65.52 0.97 0.80 2.03 1.89 4.26 4.66 6% 7% 39.8 37.34 139.6 69.8 82.96 102.02 16.45 24.8 63.35 71.13 564.2

288 Hanil Era Textiles Ltd. Acrylic filament yarn (AFY) 79.89 63.87 0.84 0.84 0.44 0.37 16 -3.34 20% -5% 21.52 23.62 128.56 146.47 92.16 79.46 102.04 116.07 31.34 30.61 641.8

1 Gujarat Reclaim & Rubber Products Ltd. Reclaimed rubber 86.66 110.83 0.64 0.65 1.68 1.89 19.32 19.47 22% 18% 47.08 56.42 32.69 35.37 21.33 23.69 1.89 1.41 9.1 10.54 24.9

2 Tirupati Foam Ltd. Rubber foam 43.08 46.99 0.88 0.77 6.13 5.81 3.21 5.35 7% 11% 68.08 74.27 11.98 5.88 22.77 16.46 12.81 12.61 4.48 5.11 25.7

3 Bliss G V S Pharma Ltd. Sheath contraceptives 57.6 99.92 0.48 0.44 1.77 2.99 9.37 43.56 16% 44% 84.66 128.56 158.42 138.28 19.2 72.48 0.1 1.54 1.44 8.46 27.1

4 Apcotex Industries Ltd. Synthetic rubber 80.47 105.18 0.81 0.77 3.06 3.98 2.93 9.09 4% 9% 75.8 56.38 25.57 32.71 22.11 20.61 6.5 6.58 9.52 6.95 28.2

tYres, tuBes AnD ruBBer ProDucts

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers142

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 145: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 143

248 Grabal Alok Impex Ltd. Special woven fabrics 98.85 128.91 0.53 0.52 0.60 0.43 32.78 45.01 33% 35% 37.51 46.13 33.02 74.7 58.86 54.09 93.93 128.77 40 33.37 483.8

249 Kanco Enterprises Ltd. Cotton yarn 86.41 100.16 0.70 0.77 0.80 1.08 9.75 4.77 11% 5% 9.56 7.67 60.14 67.35 102.61 68.91 9.64 9.77 17.06 22.34 484.8

250 Chandra Textiles Ltd. Cotton yarn 28.95 24.33 0.63 0.66 1.63 0.88 5.1 3.44 18% 14% 20.53 27.68 58.84 100.6 67.3 60.89 40.61 50.03 15.07 18.39 487.4

251 Tuticorin Spinning Mills Ltd. Cotton yarn 32.59 29.73 0.59 0.76 0.84 0.70 7.49 8.32 23% 28% 11.96 12.05 46.2 39.22 129.66 115.62 11.97 9.18 36.62 45.64 487.4

252 Priyadarshini Spinning Mills Ltd. Synthetic filament yarn other than sewing 185.04 195.4 0.80 0.86 1.17 1.24 16.91 12.87 9% 7% 28.65 27.22 57.75 76.29 36.21 31.26 28.17 28.01 21.01 27.12 489.1

253 Sulochana Cotton Spg. Mills Pvt. Ltd. Cotton yarn 110.09 131.5 0.70 0.85 0.73 0.79 26.6 26 24% 20% 28.47 28.67 37.65 36.1 120.59 110.47 16.12 9.42 39.79 58.99 490.5

254 Ambika Cotton Mills Ltd. Cotton yarn 142.54 167.41 0.63 0.63 0.42 0.36 31.44 51.58 22% 31% 9.44 10.43 146.09 102.99 484.57 427.93 10.36 10.93 16.21 15.83 490.7

255 Indoworth India Ltd. Wool yarn 220.61 179.33 0.68 0.81 1.18 1.24 3.47 6.21 2% 3% NA 201.98 278.91 391.47 NA 33.38 NA 25.6 NA 46.97 491.1

256 Trigger Apparels Ltd. Apparels (Readymade garment) 13.71 25.1 1.00 0.51 114.58 19.53 0.31 -1.19 2% -5% 73.75 70.06 183.43 189.9 31.8 43.85 92.09 86.1 46.63 51.03 493.1

257 L S Mills Ltd. Cotton yarn 104.58 118.62 0.58 0.66 0.47 0.44 29.96 27.74 29% 23% NA 29.11 134.26 152.87 NA 272.07 NA 19.18 NA 12 493.2

258 Cheslind Textiles Ltd. Cotton yarn 124.73 99.69 0.71 0.82 0.85 0.77 15.44 7.59 12% 8% 24.73 43.26 50.28 40.87 127.13 112.93 13.74 12.7 20.86 33.41 495.4

259 Sri Lakshmi Saraswathi Textiles (Arni) Ltd. Cotton yarn 77.36 68.08 0.73 0.85 1.93 1.95 11.14 3.17 14% 5% 23.56 39.56 19.51 35.83 137.87 103.85 15.91 13.59 23.18 37.1 495.6

260 Shri Renuga Textiles Ltd. Cotton yarn 134.5 208.61 0.77 0.67 1.18 0.70 26.41 26.56 20% 13% 95.77 66.47 89.66 51.85 123.52 95.87 41.74 35.8 52.4 39.33 497.0

261 Silktex Ltd. Silk fabrics, processed 32.32 27.53 0.64 0.51 0.89 0.54 8.83 6.66 27% 24% 60.59 67.62 24.08 38.62 53.79 77.36 129.05 203.97 70.61 84.13 498.4

262 Santosh Fine-Fab Ltd. Cloth (Fabrics) 26.6 26.17 0.84 0.80 5.69 5.97 1.31 1.43 5% 5% 76.27 86.28 68.36 63.43 81.23 68.62 54.51 50.54 51.61 58.14 500.0

263 Abhishek Corporation Ltd. Cotton yarn 81.44 69.64 0.66 0.49 0.67 0.14 34.24 14.85 42% 21% 67.37 130.4 86.42 145.13 119.78 260.81 85.56 32.56 17.68 25.98 501.5

264 Rajvir Industries Ltd. Cotton yarn 165.9 191.35 0.89 0.83 1.32 0.98 26.43 27.67 16% 14% 29.29 28.05 61.65 74.07 74.83 78.37 10.19 11.81 18.4 37.71 504.1

265 Soma Textiles & Inds. Ltd. Cotton & blended yarn 196.31 199.44 0.82 0.79 1.11 1.00 30.11 13 15% 7% 28.39 36 31.41 53.26 60.59 49.97 36.75 47.65 31.16 36.51 510.2

266 Mafatlal Denim Ltd. Denim 81.39 77.77 0.65 0.90 0.55 0.62 9 -8.68 11% -11% 70.31 67.46 29.76 51.68 123.5 53.9 19.06 22.46 37.68 36.65 510.3

267 Page Industries Ltd. Apparels (Readymade garment) 137.27 195.6 0.61 0.56 3.35 2.49 29.46 41.16 21% 21% 14.77 13.45 70.07 77.67 66.56 74.37 22.54 24.83 40.93 50.76 511.6

268 K G Denim Ltd. Cloth (Fabrics) 215.73 220.55 0.59 0.53 0.91 0.88 17.09 18.54 8% 8% 37.29 46.54 84.67 93.26 74.32 57.33 22.04 24.38 62 60.02 511.7

269 Vijayeswari Textiles Ltd. Cotton yarn 149.08 141.92 0.56 0.55 1.30 0.81 29.12 31.52 20% 22% 103.84 136.24 80.94 85.25 52.96 87.84 140.33 191.82 44.5 67.46 512.0

270 Ashima Ltd. Cloth (Fabrics) 236.34 223.33 0.70 0.71 0.58 0.63 -2.12 -23.28 -1% -10% 21.2 23.47 55.51 57.99 43.74 41.3 18.92 17.2 43.6 40.55 512.5

271 Indus League Clothing Ltd. Apparels (Readymade garment) 95.08 175.87 0.65 0.93 7.56 7.14 -1.66 10.7 -2% 6% 63.48 101.52 63.93 121.71 23.8 45.14 31.82 46.78 33.79 78.77 513.3

272 Pal Synthetics Ltd. Cloth (Fabrics) 20.26 19.67 0.67 0.81 14.05 14.29 1.12 0.36 6% 2% 133.97 130.73 111.67 106.69 75.65 68.29 68.11 74.83 40.59 41.59 515.8

273 Prime Textiles Ltd. Cotton yarn 117.06 106.45 0.76 0.60 1.34 1.05 9.76 8.13 8% 8% 20.94 18.53 84.36 111.61 109.7 78.79 13.96 8.11 72.08 82.52 517.0

274 Eurotex Industries & Exports Ltd. Cotton yarn 165.09 139.94 0.78 0.78 1.00 0.89 20.24 13.12 12% 9% 11.51 15.57 32.93 42.82 188.52 172.24 8.76 10.38 31.51 38.42 523.3

275 Sree Satyanarayana Spg. Mills Ltd. Cotton yarn 24.04 23.92 0.71 0.67 8.68 8.72 2.82 -0.73 12% -3% 17.86 22.54 37.67 48.6 124.53 125.23 55.59 42.74 18.95 29.39 524.3

276 Sundaram Textiles Ltd. Cotton yarn 39.86 34.41 0.70 0.70 0.84 0.72 7.94 6.68 20% 19% 39.19 61.06 59.63 68.81 272.68 301.2 18.63 27.3 29.76 40.96 533.0

277 Tamilnadu Jai Bharath Mills Ltd. Cotton yarn 59.55 59.72 0.81 0.77 1.43 0.94 8.69 3.91 15% 7% 47.37 51.31 40.28 55.9 216.56 207.63 10.94 14.67 35.19 41.15 537.8

278 Himachal Fibres Ltd. Cotton yarn 2.85 37.14 1.16 0.98 0.28 1.83 28.17 5 988% 13% 43.31 21.05 843.18 106.74 323.4 67.47 10.63 12.53 528.84 57.31 538.5

279 Winsome yarns Ltd. Cotton yarn 128.46 186.37 0.70 0.72 0.47 0.49 27.17 39.67 21% 21% 33.39 56.24 132.11 139.57 155.71 112.44 19.94 26.72 37.01 38.11 538.7

280 Ashima Dyecot Ltd. Cloth processed 121.25 126.17 0.71 0.72 0.77 1.06 2.42 -44.86 2% -36% 11.72 11.14 74 72.96 44.14 54.6 29.08 17.04 54.36 39.45 547.2

281 Digjam Ltd. Wool & woollen textiles 111.16 112.61 0.67 0.67 0.90 1.00 -6.69 6.67 -6% 6% 100.06 100.1 139.13 149.06 79.81 70.87 72.29 80.77 54.57 56 549.4

282 Uniworth Textiles Ltd. Wool & woollen textiles 37.06 31.51 0.82 0.88 1.17 1.18 -1.43 -4.27 -4% -14% 648.62 722.67 716.96 872.06 50.71 33.87 307.53 283.32 55.8 62.64 551.8

283 B S L Ltd. Woven blended fabrics of synthetic staple 139.74 120.87 0.45 0.44 0.65 0.59 16.31 11.95 12% 10% 70.08 91.55 60.47 68.69 105.66 175.65 52.45 64.76 49.41 63.7 552.6

284 A I Champdany Inds. Ltd. Jute yarn 245.5 272.6 0.75 0.86 1.84 2.30 17.09 16.28 7% 6% 28.81 28.64 71.94 78.76 102.63 98.83 17.63 12.42 68.85 78.73 556.9

285 Shri Dinesh Mills Ltd. Woven fabrics of wool 74.98 79.96 0.42 0.47 0.73 0.91 20.11 17.71 27% 22% 33.19 32.06 126.88 109.99 155.85 138.86 90.56 87.35 40.87 37.06 558.1

286 Sri Nachammai Cotton Mills Ltd. Cotton yarn 88.14 59.3 0.69 0.95 3.09 2.74 6.84 2.05 8% 3% 28.43 35.14 58.42 67.1 131.35 164.57 9.07 14.12 26.08 39.14 560.5

287 Samtex Fashions Ltd. Men's suits, trousers, etc. knitted or crocheted 67.24 65.52 0.97 0.80 2.03 1.89 4.26 4.66 6% 7% 39.8 37.34 139.6 69.8 82.96 102.02 16.45 24.8 63.35 71.13 564.2

288 Hanil Era Textiles Ltd. Acrylic filament yarn (AFY) 79.89 63.87 0.84 0.84 0.44 0.37 16 -3.34 20% -5% 21.52 23.62 128.56 146.47 92.16 79.46 102.04 116.07 31.34 30.61 641.8

1 Gujarat Reclaim & Rubber Products Ltd. Reclaimed rubber 86.66 110.83 0.64 0.65 1.68 1.89 19.32 19.47 22% 18% 47.08 56.42 32.69 35.37 21.33 23.69 1.89 1.41 9.1 10.54 24.9

2 Tirupati Foam Ltd. Rubber foam 43.08 46.99 0.88 0.77 6.13 5.81 3.21 5.35 7% 11% 68.08 74.27 11.98 5.88 22.77 16.46 12.81 12.61 4.48 5.11 25.7

3 Bliss G V S Pharma Ltd. Sheath contraceptives 57.6 99.92 0.48 0.44 1.77 2.99 9.37 43.56 16% 44% 84.66 128.56 158.42 138.28 19.2 72.48 0.1 1.54 1.44 8.46 27.1

4 Apcotex Industries Ltd. Synthetic rubber 80.47 105.18 0.81 0.77 3.06 3.98 2.93 9.09 4% 9% 75.8 56.38 25.57 32.71 22.11 20.61 6.5 6.58 9.52 6.95 28.2

te

xt

ile

sRank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

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5 Precision Seals Mfg. Ltd. Rubber & rubber products 14.7 22.7 0.59 0.45 0.78 0.89 7.85 8.99 53% 40% 104.14 79.04 86.21 55.6 37.42 35.31 14.96 9.8 12.44 9.28 28.8

6 Hi-Tech Elastomers Ltd. Articles of vulcanised rubber 14.24 14.55 0.72 0.64 3.68 3.08 1.41 1.52 10% 10% 107.6 118.11 88.8 75.61 12.86 14.61 9.95 10.53 13.56 16.35 29.0

7 Cupid Ltd. Rubber contraceptives, males 18.81 24.44 0.49 0.44 0.67 0.57 4.7 4.45 25% 18% 59.05 30.45 54.69 22.04 19.91 15.94 2.66 2.95 36.9 30.88 31.8

8 Tega Industries Ltd. Rubber & rubber products 95.49 124.19 0.44 0.47 2.41 2.50 21.93 34.03 23% 27% 84.91 84.93 79.87 78.44 87.25 90.28 2.82 2.24 20.22 13.17 33.5

9 Fenner (India) Ltd. V belt 229.9 253.12 0.59 0.58 1.24 1.14 58.51 59.11 25% 23% 40.63 71.65 104.13 82.17 19.66 38.84 3.61 6.64 13.36 20.21 37.0

10 Indag Rubber Ltd. Retreaded & other tyres 61.19 73.99 0.80 0.82 3.65 4.33 7.8 12.1 13% 16% 40.75 38.37 46.71 47.93 32.77 33.85 3.99 1.79 27.4 32.23 37.4

11 Govind Rubber Ltd. Cycle tyres 243.73 250.73 0.80 0.82 7.12 7.12 15.28 16.33 6% 7% 110.92 117.54 78.6 116.72 32.39 36.85 4.34 6.53 19.9 29.83 37.9

12 Multibase India Ltd. Rubbers 21.31 28.98 0.67 0.74 3.14 4.96 4.74 5.84 22% 20% NA 82.45 34.27 32.55 NA 71.15 NA 4 NA 32.18 37.9

13 J K Ansell Ltd. Rubber contraceptives, males 64.19 69.53 0.60 0.56 4.42 4.76 9.59 12.1 15% 17% NA 45.81 72.34 60.29 NA 37.74 NA 16.17 NA 20.02 38.9

14 T T K-L I G Ltd. Rubber contraceptives, males 203.34 226.82 0.50 0.57 3.90 2.95 35.35 41.22 17% 18% 74.38 87.04 84.18 65.1 45.48 49.85 22.28 31.04 12.86 17.91 39.4

15 Krypton Industries Ltd. Cycle tyres 11.12 17.58 0.68 0.68 1.17 1.65 3.22 3.31 29% 19% 72.67 82.61 98.08 101.76 94.13 62.18 0.77 1.21 53.28 47.03 41.5

16 Mahalaxmi Rubtech Ltd. Rubber & rubber products 9.89 17.16 0.73 0.76 0.68 0.89 2.25 3.93 23% 23% 58.89 59.56 74.69 43.02 38.73 46.97 10.96 18.99 14.78 19.3 41.8

17 Somi Conveyor Beltings Ltd. Conveyor belting 15.42 15.86 0.77 0.94 0.98 0.62 2.73 3.24 18% 20% 49.98 58.41 14.33 52.08 30.76 66.35 0.62 3.18 3.35 21.7 43.2

18 Vamshi Rubber Ltd. Rubber & rubber products 35.78 40.63 0.95 0.87 4.44 3.67 1.87 3.84 5% 9% 40.66 39.6 33.74 23.94 16.59 22.26 10.15 11.16 25.85 36.11 43.4

19 Rubber Products Ltd. Rubber & rubber products 21.72 16.04 0.53 0.58 1.71 1.50 0.95 0 4% 0% 128.52 163.4 81.75 93.04 40.16 56.4 48.9 62.12 14.12 14.29 44.0

20 Medtech Products Ltd. Sheath contraceptives 16.79 20.29 0.71 0.97 0.65 1.10 82.27 -0.89 490% -4% 14.4 13.98 197.52 192.05 27.5 22.53 13.97 6.86 7.02 5.12 44.1

21 Soni Rubber Products Ltd. Hoses, tubes & pipes of vulcanised rubber 12.18 14.84 0.76 0.69 2.37 2.55 1.36 1.64 11% 11% NA 101.15 19.62 21.21 NA 41.17 NA 31.94 NA 44.64 45.1

22 Inarco Ltd. Aprons 36.35 36.66 0.53 0.65 6.66 7.01 2.62 4.57 7% 12% 41.24 49.62 73.29 76.81 80.93 69.13 13.99 12.15 17.2 20.81 45.6

23 Pregna International Ltd. Rubber contraceptives, females 12.55 12.43 0.45 0.43 2.66 2.02 1.22 1.41 10% 11% 87.04 92.21 79.62 82.83 175.01 242.36 2.16 2.12 45.7 47.12 46.6

24 Pix Transmissions Ltd. V belt 130.18 151.57 0.69 0.68 0.92 0.91 20.11 24.26 15% 16% 54.06 53.52 49.58 47.73 59.14 75.32 9.77 10.01 27.1 29.08 48.4

25 Puneet Resins Ltd. Rubber & rubber products 9.05 12.42 1.02 0.87 3.58 4.43 0.72 1.38 8% 11% 51.98 55.04 73.51 120.44 91.08 104.62 0.64 0.35 55.35 69.43 51.9

26 Bengal Waterproof Ltd. Hygeine & pharmaceutical rubber products 50.08 53.73 0.64 0.64 3.28 3.14 5.37 6.72 11% 13% 129.56 134.88 109.83 121.78 95.32 85.25 89.24 85.96 29.59 31.2 52.4

27 Elgi Rubber Co. Ltd. Tyre treads 143.8 51.98 0.69 0.59 2.61 1.43 16.63 10.8 12% 21% 66.94 151.17 34.35 147.34 74.6 211.41 13.84 27 32.51 57.45 55.8

28 Dunlop India Ltd. Tyres 5.31 121.21 0.46 0.93 0.00 0.09 494.44 6.13 9311% 5% 2332.09 95.02 6675.94 369.82 0 121.53 152.75 24.34 68.59 12.8 56.3

29 Polar Pharma India Ltd. Sheath contraceptives 19.36 26.33 0.90 0.33 0.56 0.30 -5.86 0.43 -30% 2% 215.63 114.16 129.65 185.93 98.89 56.82 130.82 49.46 91.45 55.49 56.9

1 Pawan Power & Telecom Ltd. Cables & other conductors 29.25 23.54 0.93 0.92 25.97 23.75 1.79 1.47 6% 6% 56.47 72.65 3.95 4.99 9.12 9.88 4.73 3.68 7.1 13.83 16.9

2 Ram Ratna Wires Ltd. Copper winding wires 211.47 287.91 0.93 0.94 8.94 9.87 7.74 17.06 4% 6% 50.82 49.24 12.73 9.69 2.09 1.27 3.08 3.03 6.01 5.66 18.2

3 Torrent Cables Ltd. [Merged] Cross linked polyethylene cables (XLPE) 192.04 222.31 0.77 0.70 10.58 9.15 34.27 50.3 18% 23% 59.36 62.34 11.27 16.53 36.25 36.33 5.49 7.93 4.47 4.82 22.4

4 Bhagyanagar India Ltd. Jelly filled cables 186.82 204.98 0.70 0.76 1.53 1.97 86.95 52.44 47% 26% 31.91 33.7 25.35 47.11 12.98 26.63 4.42 6.98 2.69 0.32 22.5

5 Bharat Insulation Co. (India) Ltd. PVC insulated cables & flexes 187.73 199.77 0.91 0.96 5.56 5.79 8.26 9.34 4% 5% 44.34 43.09 68.45 67.62 3.83 3.67 4.39 4.27 10.73 14.01 29.6

6 Cords Cable Inds. Ltd. Wires & cables, nec 91.83 169.9 0.88 0.82 6.14 2.56 13.21 25.85 14% 15% 51.59 52.43 70.15 82.57 19.39 20.29 14.16 9.76 8.96 11.31 29.7

7 Rishabhdev Technocable Ltd. Cables & other conductors 10.53 31.09 0.85 0.92 3.07 3.96 1.31 3.74 12% 12% 105.72 70.62 56.8 40.54 26.1 19.7 43.89 16.55 26.94 12.44 31.0

8 T V S Interconnect Systems Ltd. Wires & cables, nec 134.28 248.41 0.93 0.87 15.87 21.74 12.18 21.54 9% 9% 171.8 89.33 153.98 45.41 47.66 58.94 1.72 0.08 46.58 34.03 31.8

9 Surana Telecom & Power Ltd. Jelly filled cables 79.24 69.14 0.81 0.83 1.27 1.20 12.98 13.11 16% 19% 65.29 65.79 34.09 70.39 18.8 29.86 15.89 18.3 8.25 13.02 32.7

10 Vindhya Telelinks Ltd. Jelly filled cables 54.7 214.84 0.78 0.98 1.00 4.78 6.25 9.62 11% 4% 126.59 30.31 33.02 36.42 102.27 26.96 84.14 26.5 3.52 5.28 33.7

11 Welworth Electric Co. Ltd. Copper enamelled winding wires 18.81 19.87 1.01 1.00 5.91 6.15 0.24 0.25 1% 1% NA 260.24 263.31 271.63 NA 1.38 NA 7.6 NA 4.47 34.3

12 Delton Cables Ltd. Cables & other conductors 118.76 144.96 0.83 0.95 9.56 10.54 10.27 11.7 9% 8% 83.48 80.23 71.52 85.96 22.87 19.64 36.66 36.5 18.81 22.06 34.6

13 Hindusthan Vidyut Products Ltd. Cables & other conductors 323.66 258.77 0.75 0.67 2.97 1.26 43.74 45.79 14% 18% 57.88 75.97 71.13 66.59 31.41 51.88 7.62 12.79 14.47 18.7 35.0

14 Galada Power & Telecommunication Ltd. Cables & other conductors 108.35 39.36 0.90 0.79 3.22 1.03 0.19 -0.8 0% -2% 63.25 148.88 117.58 276.3 17.31 45.16 6.13 5.22 7.56 18.15 35.8

15 Birla Ericsson Optical Ltd. Cables & other conductors 56.45 131.85 0.78 0.96 1.57 4.53 3.26 6.66 6% 5% 62.69 48.98 80.1 38.96 114.52 57.63 39.35 26.1 2.82 1.88 36.8

16 Uniflex Cables Ltd. Cross linked polyethylene cables (XLPE) 30.9 110.68 0.88 0.82 0.58 1.89 33.59 6.56 109% 6% 101.35 65.9 23.19 13.9 83.4 31.6 88.12 33.62 24.21 9.75 37.8

17 Emgee Cables & Communications Ltd. Wires & cables, insulated 30 26.44 0.97 1.03 5.56 4.16 1.1 2.16 4% 8% 41.54 59.47 55.77 98.27 22.64 28.19 24.31 81.1 4.51 6.26 38.8

18 Central Cables Ltd. Cables & other conductors 35.63 32 0.91 0.74 3.05 0.88 3.81 3.13 11% 10% 121.27 132.43 59.64 53.27 32.13 44.19 27.89 32.35 38.4 44.7 39.2

19 U M Cables Ltd. Jelly filled cables 162.81 190.06 0.86 0.96 3.05 4.00 12.43 11.61 8% 6% 56.18 44.47 102.82 139.88 36.3 29.95 21.76 14.76 13.39 28.72 40.3

20 Cable Corpn. Of India Ltd. Cables & other conductors 136.88 113.23 0.72 0.86 0.83 1.63 13.77 26.4 10% 23% 92.36 89.3 114.21 203.24 39.01 30.29 42.66 89.39 13.73 11.91 40.9

wires AnD cABles

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers144

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 147: Reinventing the Supply Chain

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 145

5 Precision Seals Mfg. Ltd. Rubber & rubber products 14.7 22.7 0.59 0.45 0.78 0.89 7.85 8.99 53% 40% 104.14 79.04 86.21 55.6 37.42 35.31 14.96 9.8 12.44 9.28 28.8

6 Hi-Tech Elastomers Ltd. Articles of vulcanised rubber 14.24 14.55 0.72 0.64 3.68 3.08 1.41 1.52 10% 10% 107.6 118.11 88.8 75.61 12.86 14.61 9.95 10.53 13.56 16.35 29.0

7 Cupid Ltd. Rubber contraceptives, males 18.81 24.44 0.49 0.44 0.67 0.57 4.7 4.45 25% 18% 59.05 30.45 54.69 22.04 19.91 15.94 2.66 2.95 36.9 30.88 31.8

8 Tega Industries Ltd. Rubber & rubber products 95.49 124.19 0.44 0.47 2.41 2.50 21.93 34.03 23% 27% 84.91 84.93 79.87 78.44 87.25 90.28 2.82 2.24 20.22 13.17 33.5

9 Fenner (India) Ltd. V belt 229.9 253.12 0.59 0.58 1.24 1.14 58.51 59.11 25% 23% 40.63 71.65 104.13 82.17 19.66 38.84 3.61 6.64 13.36 20.21 37.0

10 Indag Rubber Ltd. Retreaded & other tyres 61.19 73.99 0.80 0.82 3.65 4.33 7.8 12.1 13% 16% 40.75 38.37 46.71 47.93 32.77 33.85 3.99 1.79 27.4 32.23 37.4

11 Govind Rubber Ltd. Cycle tyres 243.73 250.73 0.80 0.82 7.12 7.12 15.28 16.33 6% 7% 110.92 117.54 78.6 116.72 32.39 36.85 4.34 6.53 19.9 29.83 37.9

12 Multibase India Ltd. Rubbers 21.31 28.98 0.67 0.74 3.14 4.96 4.74 5.84 22% 20% NA 82.45 34.27 32.55 NA 71.15 NA 4 NA 32.18 37.9

13 J K Ansell Ltd. Rubber contraceptives, males 64.19 69.53 0.60 0.56 4.42 4.76 9.59 12.1 15% 17% NA 45.81 72.34 60.29 NA 37.74 NA 16.17 NA 20.02 38.9

14 T T K-L I G Ltd. Rubber contraceptives, males 203.34 226.82 0.50 0.57 3.90 2.95 35.35 41.22 17% 18% 74.38 87.04 84.18 65.1 45.48 49.85 22.28 31.04 12.86 17.91 39.4

15 Krypton Industries Ltd. Cycle tyres 11.12 17.58 0.68 0.68 1.17 1.65 3.22 3.31 29% 19% 72.67 82.61 98.08 101.76 94.13 62.18 0.77 1.21 53.28 47.03 41.5

16 Mahalaxmi Rubtech Ltd. Rubber & rubber products 9.89 17.16 0.73 0.76 0.68 0.89 2.25 3.93 23% 23% 58.89 59.56 74.69 43.02 38.73 46.97 10.96 18.99 14.78 19.3 41.8

17 Somi Conveyor Beltings Ltd. Conveyor belting 15.42 15.86 0.77 0.94 0.98 0.62 2.73 3.24 18% 20% 49.98 58.41 14.33 52.08 30.76 66.35 0.62 3.18 3.35 21.7 43.2

18 Vamshi Rubber Ltd. Rubber & rubber products 35.78 40.63 0.95 0.87 4.44 3.67 1.87 3.84 5% 9% 40.66 39.6 33.74 23.94 16.59 22.26 10.15 11.16 25.85 36.11 43.4

19 Rubber Products Ltd. Rubber & rubber products 21.72 16.04 0.53 0.58 1.71 1.50 0.95 0 4% 0% 128.52 163.4 81.75 93.04 40.16 56.4 48.9 62.12 14.12 14.29 44.0

20 Medtech Products Ltd. Sheath contraceptives 16.79 20.29 0.71 0.97 0.65 1.10 82.27 -0.89 490% -4% 14.4 13.98 197.52 192.05 27.5 22.53 13.97 6.86 7.02 5.12 44.1

21 Soni Rubber Products Ltd. Hoses, tubes & pipes of vulcanised rubber 12.18 14.84 0.76 0.69 2.37 2.55 1.36 1.64 11% 11% NA 101.15 19.62 21.21 NA 41.17 NA 31.94 NA 44.64 45.1

22 Inarco Ltd. Aprons 36.35 36.66 0.53 0.65 6.66 7.01 2.62 4.57 7% 12% 41.24 49.62 73.29 76.81 80.93 69.13 13.99 12.15 17.2 20.81 45.6

23 Pregna International Ltd. Rubber contraceptives, females 12.55 12.43 0.45 0.43 2.66 2.02 1.22 1.41 10% 11% 87.04 92.21 79.62 82.83 175.01 242.36 2.16 2.12 45.7 47.12 46.6

24 Pix Transmissions Ltd. V belt 130.18 151.57 0.69 0.68 0.92 0.91 20.11 24.26 15% 16% 54.06 53.52 49.58 47.73 59.14 75.32 9.77 10.01 27.1 29.08 48.4

25 Puneet Resins Ltd. Rubber & rubber products 9.05 12.42 1.02 0.87 3.58 4.43 0.72 1.38 8% 11% 51.98 55.04 73.51 120.44 91.08 104.62 0.64 0.35 55.35 69.43 51.9

26 Bengal Waterproof Ltd. Hygeine & pharmaceutical rubber products 50.08 53.73 0.64 0.64 3.28 3.14 5.37 6.72 11% 13% 129.56 134.88 109.83 121.78 95.32 85.25 89.24 85.96 29.59 31.2 52.4

27 Elgi Rubber Co. Ltd. Tyre treads 143.8 51.98 0.69 0.59 2.61 1.43 16.63 10.8 12% 21% 66.94 151.17 34.35 147.34 74.6 211.41 13.84 27 32.51 57.45 55.8

28 Dunlop India Ltd. Tyres 5.31 121.21 0.46 0.93 0.00 0.09 494.44 6.13 9311% 5% 2332.09 95.02 6675.94 369.82 0 121.53 152.75 24.34 68.59 12.8 56.3

29 Polar Pharma India Ltd. Sheath contraceptives 19.36 26.33 0.90 0.33 0.56 0.30 -5.86 0.43 -30% 2% 215.63 114.16 129.65 185.93 98.89 56.82 130.82 49.46 91.45 55.49 56.9

1 Pawan Power & Telecom Ltd. Cables & other conductors 29.25 23.54 0.93 0.92 25.97 23.75 1.79 1.47 6% 6% 56.47 72.65 3.95 4.99 9.12 9.88 4.73 3.68 7.1 13.83 16.9

2 Ram Ratna Wires Ltd. Copper winding wires 211.47 287.91 0.93 0.94 8.94 9.87 7.74 17.06 4% 6% 50.82 49.24 12.73 9.69 2.09 1.27 3.08 3.03 6.01 5.66 18.2

3 Torrent Cables Ltd. [Merged] Cross linked polyethylene cables (XLPE) 192.04 222.31 0.77 0.70 10.58 9.15 34.27 50.3 18% 23% 59.36 62.34 11.27 16.53 36.25 36.33 5.49 7.93 4.47 4.82 22.4

4 Bhagyanagar India Ltd. Jelly filled cables 186.82 204.98 0.70 0.76 1.53 1.97 86.95 52.44 47% 26% 31.91 33.7 25.35 47.11 12.98 26.63 4.42 6.98 2.69 0.32 22.5

5 Bharat Insulation Co. (India) Ltd. PVC insulated cables & flexes 187.73 199.77 0.91 0.96 5.56 5.79 8.26 9.34 4% 5% 44.34 43.09 68.45 67.62 3.83 3.67 4.39 4.27 10.73 14.01 29.6

6 Cords Cable Inds. Ltd. Wires & cables, nec 91.83 169.9 0.88 0.82 6.14 2.56 13.21 25.85 14% 15% 51.59 52.43 70.15 82.57 19.39 20.29 14.16 9.76 8.96 11.31 29.7

7 Rishabhdev Technocable Ltd. Cables & other conductors 10.53 31.09 0.85 0.92 3.07 3.96 1.31 3.74 12% 12% 105.72 70.62 56.8 40.54 26.1 19.7 43.89 16.55 26.94 12.44 31.0

8 T V S Interconnect Systems Ltd. Wires & cables, nec 134.28 248.41 0.93 0.87 15.87 21.74 12.18 21.54 9% 9% 171.8 89.33 153.98 45.41 47.66 58.94 1.72 0.08 46.58 34.03 31.8

9 Surana Telecom & Power Ltd. Jelly filled cables 79.24 69.14 0.81 0.83 1.27 1.20 12.98 13.11 16% 19% 65.29 65.79 34.09 70.39 18.8 29.86 15.89 18.3 8.25 13.02 32.7

10 Vindhya Telelinks Ltd. Jelly filled cables 54.7 214.84 0.78 0.98 1.00 4.78 6.25 9.62 11% 4% 126.59 30.31 33.02 36.42 102.27 26.96 84.14 26.5 3.52 5.28 33.7

11 Welworth Electric Co. Ltd. Copper enamelled winding wires 18.81 19.87 1.01 1.00 5.91 6.15 0.24 0.25 1% 1% NA 260.24 263.31 271.63 NA 1.38 NA 7.6 NA 4.47 34.3

12 Delton Cables Ltd. Cables & other conductors 118.76 144.96 0.83 0.95 9.56 10.54 10.27 11.7 9% 8% 83.48 80.23 71.52 85.96 22.87 19.64 36.66 36.5 18.81 22.06 34.6

13 Hindusthan Vidyut Products Ltd. Cables & other conductors 323.66 258.77 0.75 0.67 2.97 1.26 43.74 45.79 14% 18% 57.88 75.97 71.13 66.59 31.41 51.88 7.62 12.79 14.47 18.7 35.0

14 Galada Power & Telecommunication Ltd. Cables & other conductors 108.35 39.36 0.90 0.79 3.22 1.03 0.19 -0.8 0% -2% 63.25 148.88 117.58 276.3 17.31 45.16 6.13 5.22 7.56 18.15 35.8

15 Birla Ericsson Optical Ltd. Cables & other conductors 56.45 131.85 0.78 0.96 1.57 4.53 3.26 6.66 6% 5% 62.69 48.98 80.1 38.96 114.52 57.63 39.35 26.1 2.82 1.88 36.8

16 Uniflex Cables Ltd. Cross linked polyethylene cables (XLPE) 30.9 110.68 0.88 0.82 0.58 1.89 33.59 6.56 109% 6% 101.35 65.9 23.19 13.9 83.4 31.6 88.12 33.62 24.21 9.75 37.8

17 Emgee Cables & Communications Ltd. Wires & cables, insulated 30 26.44 0.97 1.03 5.56 4.16 1.1 2.16 4% 8% 41.54 59.47 55.77 98.27 22.64 28.19 24.31 81.1 4.51 6.26 38.8

18 Central Cables Ltd. Cables & other conductors 35.63 32 0.91 0.74 3.05 0.88 3.81 3.13 11% 10% 121.27 132.43 59.64 53.27 32.13 44.19 27.89 32.35 38.4 44.7 39.2

19 U M Cables Ltd. Jelly filled cables 162.81 190.06 0.86 0.96 3.05 4.00 12.43 11.61 8% 6% 56.18 44.47 102.82 139.88 36.3 29.95 21.76 14.76 13.39 28.72 40.3

20 Cable Corpn. Of India Ltd. Cables & other conductors 136.88 113.23 0.72 0.86 0.83 1.63 13.77 26.4 10% 23% 92.36 89.3 114.21 203.24 39.01 30.29 42.66 89.39 13.73 11.91 40.9

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Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Page 148: Reinventing the Supply Chain

21 C M I Ltd. Jelly filled cables 19.64 22.42 0.98 0.95 2.92 3.60 9.09 2.54 46% 11% 79.25 69.53 111.39 120.44 39.13 41.47 14.34 46.11 8.37 14.16 42.3

22 Versatile Wires Ltd. Copper enamelled winding wires 26.72 29.63 0.90 0.90 2.73 3.18 1.05 1.06 4% 4% NA 35.38 51.26 59.99 NA 6.18 NA 35.57 NA 4.78 43.2

23 Tamilnadu Telecommunications Ltd. Jelly filled cables 14.68 21.93 0.94 0.93 0.73 1.23 6.07 -0.56 41% -3% 252.87 187.46 378.28 346.23 87.26 74.36 139.45 101.73 0.21 0.14 45.1

24 G R Cables Ltd. Jelly filled cables 24.39 10.89 0.92 0.85 1.40 0.63 3.61 0.6 15% 6% 132.79 255.35 84.09 105.41 57.09 110.86 73.25 184.19 44.96 88.39 51.7

25 Paramount Wires & Cables Ltd. Jelly filled cables 28.86 65.08 0.47 1.00 1.66 9.63 2.26 2.45 8% 4% 116.38 30.39 89.97 132.3 63.11 37.97 111.13 43.05 93.8 36.36 53.2

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxesPrevious Year: 1st April 2006 to 31st March 2007. source: CMIE Prowess databaselatest year: 1st April 2007 to 31st March 2008.

As in many cases in India, it is found that a 3PL service provider depends on the contract giver company for different kinds of supports to complete the assigned job, the people manning the Logistics and Supply Chain department in the manufacturing company have to be very efficient, and cooperative to them. This often helps in wiping out many weak areas of their own Supply Chain.

By P. K. Chatterjee

Through STraTegic STaffingBuilding EfficiEnt Supply chain

we are passing through a time when in India, simultane-ously a number of production sectors are showing spec-

tacular upswing in their output, and the growing produces need proper distribu-tion. The development trend indicates

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

supply chain metrics

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers146

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

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net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

small manufacturing companies

www.industry20.com industry 2.0 - technology management for decision-makers | february 28, 2010 147

21 C M I Ltd. Jelly filled cables 19.64 22.42 0.98 0.95 2.92 3.60 9.09 2.54 46% 11% 79.25 69.53 111.39 120.44 39.13 41.47 14.34 46.11 8.37 14.16 42.3

22 Versatile Wires Ltd. Copper enamelled winding wires 26.72 29.63 0.90 0.90 2.73 3.18 1.05 1.06 4% 4% NA 35.38 51.26 59.99 NA 6.18 NA 35.57 NA 4.78 43.2

23 Tamilnadu Telecommunications Ltd. Jelly filled cables 14.68 21.93 0.94 0.93 0.73 1.23 6.07 -0.56 41% -3% 252.87 187.46 378.28 346.23 87.26 74.36 139.45 101.73 0.21 0.14 45.1

24 G R Cables Ltd. Jelly filled cables 24.39 10.89 0.92 0.85 1.40 0.63 3.61 0.6 15% 6% 132.79 255.35 84.09 105.41 57.09 110.86 73.25 184.19 44.96 88.39 51.7

25 Paramount Wires & Cables Ltd. Jelly filled cables 28.86 65.08 0.47 1.00 1.66 9.63 2.26 2.45 8% 4% 116.38 30.39 89.97 132.3 63.11 37.97 111.13 43.05 93.8 36.36 53.2

Disclaimer: while every care has been taken to ensure accuracy in compiling this data, neither the publisher nor the editor will be responsible for any omissions or errors, or be held responsible for actions taken by any person (s) in reliance upon the data herein. Errors, omissions and mistakes may be brought to the attention of the editor for rectification in future issues of the magazine.

this pressure will further grow in 2010, owing to better efficiencies in many other production sectors.

right at this juncture, appar-ently the mammoth responsi-bility goes on the shoulder of the Indian logistics & supply Chain sector, which is still not a recog-nized one. And the fund required for modernization of this sector is not so easily available, except for the top few companies in that sector.

under this circumstances, the manufacturing industries too have to chalk out plans to make their distribution and shipment effi-cient, whereby the responsibility passes on to the sC & logistics in-charges of the manufacturing industries.

Compared to other developed countries, Indian supply Chain system to a great extent is much more complex, and in the last (say) couple of years it has incurred fur-ther complexities – in the sense the sudden demands from not-seen-earlier types of services have in one way created a service bottle-neck in the sector. where many

lsPs before improving their own service capability (may be due to lack of fund, time, knowledge and many other reasons) have taken up big contracts, and ultimately at all stages are running the show with the help of the contract-giver com-pany. This is a major cause behind their failure to procure the best-in-class of service and that is in a big way weakening the supply Chain of the manufacturing companies.

Even in many big lsP com-panies, who have invested a lot in constructing big warehouses, modernizing tracking and com-munication systems, inefficient manpower foils all efforts. so, right at this stage, Indian manufacturing companies have no alternative but to continuing with giving support to the 3Pl service providers.

Contextually under Indian con-dition, it should be remembered that the definition of the 3Pl ser-vice provider includes a variety of service providers, who may be a single man with five or less num-ber of trucks or a multinational operator. Thus, especially outside the city limits (as many production

plants are situated far off from the cities and towns), in making an efficient supply Chain, the responsibility of the logistics & supply Chain heads and associate staff of the user company is still very vast.

so, under Indian circumstances, the multifarious role of logistics & supply Chain professionals work-ing in producer companies is of a great significance. sometimes, for them managing the distribution system is a reason-based hard-core scientific decision making, again at other moments it is an art of handling issues through built-up relationship.

Thus, manufacturing compa-nies need to be careful and srate-gic about staffing the logistics & supply Chain area, as efficiency of this operation to a great extent de-pend on the individual’s skill. Along with analytical ability, negotiation capability and knowledge-base, a good guy here should have the inherent capacity to build up re-lationship. At times, relationship with partners makes the impos-sible easily possible. n

Through STraTegic STaffingBuilding EfficiEnt Supply chain

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

Rank Company Name Industrial Activity

CORPORATE FINANCIAL PERFORMANCE WORKING CAPITAL CyCLE

Composite ScoreNet Sales

(Rs. Crore)

Cost of Goods Sold

(as % of sales)

Fixed Assets Turnover Ratio

(FATR)

PBDIT(Rs. Crore)

PBDIT/Net SalesDebtors Days Available

(Days)Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 2008

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facilities & operations

According to a recent survey of CEOs by Accenture, two-thirds of executives believe that innovation is vital to the

future of their companies. However, the same survey found that only one in eight executives feels that their company excels at implementing in-novative ideas.

Further, a research from AMR found more than two-thirds of com-panies admit that their New Product Development (NPD) processes are not under control. While 48 per cent of companies surveyed have a formal NPD process in place, only 52 per cent have metrics applied to the process. In other words, they have little idea of how well they are actu-ally performing.

Thus, clearly there is a room for improvement.

The fundamental areas that need to be addressed for manufacturers to create an environment that fosters sustainable, measurable innovation in new product development include:l Strategic portfolio managementl Program execution management l Strategic product developmentl Manufacturing planning and

validation

Strategic portfolio managementThis involves capturing the voice of the market and aligning it with the needs of the company, prioritizing the right investments and outlining key requirements to direct research and development.

Leading manufacturers demon-strate a strong ability to get closer to their market needs and to gener-ate, understand and evaluate ideas.

PLM provides an open digital manufacturing environment. This enables companies to maintain a clear link between manufacturing

planning capabilities and product management. This

open environment ensures a smooth and secured transition from planning to production by

facilitating collaboration across the organization, and particularly with global manufacturing sites.

Thereby, it facilitates faster development of the ready-to-

market products from the stages of their conception.

by vivek marwaha

Pict

ure

Cour

tesy

: ww

w.ph

otos

.com

Enabling Innovation For New Product Development

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However, idea management can be challenging.

While it is important to encour-age broad participation in the ide-ation process from both internal participants and external stake-holders, ideas need to be evalu-ated and prioritized. This creates a need for an infrastructure that can support globally distributed teams and provide appropriate security mechanisms. It should also be able to effectively manage new product/process ideas and all supporting data, making it easier to share, discuss, and route ideas for consideration by other team members and experts.

Following generation, ideas need to be prioritized based on evaluation. Not all ideas are good, and even good ideas don’t guarantee success. According to PDMA, approximately 86 per cent of new product ideas never make it to market; of those that do, 50 to 70 per cent fail. Apple’s CEO Steve Jobs says that, among other practices, the seed of Apple’s innovation is ‘saying no to 1000 things,’ so as to concentrate on the ‘really important’ creations.

PLM solutions play a critical role in helping companies make the right products and make them right. To address these concerns, PLM provides a collaborative framework for business decision management. This allows partici-pants to see and understand the various influences on the com-pany, provide their input, and sign off on investigations, proposals, justifications and business cases. Armed with pertinent information, leaders are able to make informed decisions about which offerings, platforms, products and technolo-gies to develop.

In the initial phases of any effort, requirements management provides a key capability by ac-curately outlining the attractive-ness and cost of any new idea. When these requirements are

linked to the business layer, they can be more directly aligned with, and connected to, the initial idea and the resulting business case. Every participant in the product lifecycle needs to know what cus-tomers want if products are to succeed.

The final component of Strate-gic Portfolio Management is R&D and Technology Management.

A recent survey of 940 execu-tives by the Boston Consulting Group found that 51 per cent of them were dissatisfied with the financial Returns on Invest-ment (RoI) that they are seeing from their innovations. The same research also shows that ‘there is no direct correlation between R&D spending and sales growth, earnings or shareholder returns.’ At first glance, this lack of cor-relation defies logic in principle. One would expect increased R&D spending to lead to more or better ideas and projects, resulting in better new products and corre-sponding revenue growth.

AMR Research findings suggest that the problem lies in the matu-rity of managerial processes over-seeing investment in R&D. Creat-ing ideas and technology is one thing. Being able to leverage those in the market place is another. An article from analysts of Booz Allen Hamilton suggests that, ‘How you

spend is far more important than how much you spend.’

PLM tools, allow companies to more effectively manage the R&D process while ensuring connec-tion both to product development, and to the wider aim of leverag-ing R&D knowledge in product development. By integrating R&D with product development, com-panies gain visibility into R&D efforts that enables them to more readily identify and align resident technology to current and future business needs.

Program execution managementThis entails control and manage-ment of projects to better manage program and development team complexities, implement perfor-mance measurement and mile-stones keeping projects on track. Thus, it establishes consistent and repeatable product develop-ment stage-gate and change-management processes across development organizations.

AMR Research discovered that while 79 per cent of compa-nies surveyed have formal NPD processes, only 52 per cent have metrics applied to the process. What’s more? Most companies rank around one on the Six Sigma scale of quality—an indica-tion that a process produces not

A framework for effective NPD

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facilities & operations

only poor quality but also incon-sistent quality.

Traditionally, managers leveraged one set of systems to perform project management and another to perform program management. To make better decisions and improve their ROI, today’s program leaders are shift-ing focus from isolated solutions to a single integrated one that can perform multiple mission-critical product lifecycle functions to:l Reduce the enterprise’s built-in overheadl Eliminate multiple information sources that prevent people from attaining their full productivityl Synchronize the environment’s unaligned product, process and project datal Provide decision makers with immediate real-time access to program data

PLM provides these capa-bilities in a digital environment, where executives can leverage collaborative workplaces to gain ‘big picture’ views of an enter-prise’s take-to-market programs. Further, it enables companies to save, re-use and modify processes over time, so that they can not only holistically leverage standard processes (such as stage-gate) to drive development, but also improve and optimize processes over time.

For coordination of group ef-forts, collaboration is essential between team members from vari-ous groups working on individual projects that make up a program. For effective project and resource management, PLM enables a

digital collaborative environment, which allows globally dispersed users to simultaneously view and interact with the same instanta-neously updated project informa-tion, including project schedules, threaded discussions, not e-books and collaborative documents. It also supports cross-functional product management teams that extend beyond the internal organi-zation to include representatives from widely dispersed organiza-tions, as well as experts drawn from the company’s supply chain and business partners.

In addition, PLM helps in assigning resources, financial or otherwise, against specific activities, providing a key means to ensure that those resources are most effectively deployed. It helps reduce risk by ensuring that key stakeholders have a comprehen-sive view into a program’s status at any point in time.

Finally, program execution management concludes with launch management. Typically, a significant portion of total spend-ing takes place during the launch phase. AMR Research estimates that the cost of goods sold (COGS) represents almost 65 per cent of total cost, and that most of this is spent during the launch.

Strategic product developmentThis is responsible for develop-ing systems and technologies that embed market and customer requirements directly into product architectures. It aligns product concepts to strategic require-ments that can be simulated and validated as a basis for detailed development. In order to ensure that the end product aligns with the strategic intent of the compa-ny, strategic product development needs to focus on three key areas, namely Systems engineering, Con-cept design–shape– layout and Digital simulation.

Systems engineering: This supplements market requirements with quantifiable constraints that determine the success of take-to-market programs in terms of cost and delivery schedules, as well as their ability to satisfy established performance, ergonomics, safety, usability, reliability, maintain-ability, recycling and disposal and other compliance-related metrics. It produces a structure that links requirements to system and subsystem structures, and to the product structure. Thus, it directly connects the high-level product strategy with detailed develop-ment execution.

PLM provides a familiar, open collaborative environment that ensures that all contributors can participate in the design and validation process. In this way, requirements can continually be checked and validated, and per-haps more importantly, balanced.

Digital product development provides product control struc-tures that are flexible enough to embed a wide array of knowl-edge into their definitions. Thus, companies gain the flexibility to drive product definition with key aspects of product performance or manufacturing.

Concept design, shape and layout: These are often important elements in a company’s overall innovation strategy. No matter what design strategy a company decides to focus on, to support its broader market needs or the gen-eral design situation dictated by the needs of the company and its suppliers, digital product develop-ment can support it.

Digital simulation: Experimenta-tion is often the key to bringing innovations to market faster, and simulation is definitely the key to experimentation. It can provide a means to undertake more ‘what-if’ studies and ensure a greater understanding of prod-uct and process behaviour. This

Strategic product

development

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encourages more innovation and reduces the risk of increased downstream costs.

Further, by eliminating the delays that occur between design and validation, digital simulation enables informed decisions to be made fast during development phase, by ensuring analysis re-sults are available in time to influ-ence design and manufacturing.

Manufacturing planning and validationThis involves synchronization of product manufacturing and sourcing processes with the rest of product development, to ensure flawless product launches and smooth ramp-ups. It also vali-dates manufacturing processes and line designs to ensure quality and compliance.

At a base level, digital manu-facturing lets companies capture best practices in manufacturing processes and machining op-erations, and apply them to new products. It also allows product development and product manu-facturing to work concurrently.

It then, extends these links to bring together all the critical elements of product, process, plant and resources to form the electronic Bill of Process (eBOP). The eBOP ultimately provides the high-level structure that is used to define all manufacturing processes and operations in a single repository. Being able to efficiently re-use this library for product derivations and vari-ants is a key way of maximizing market coverage.

By combining these capabili-ties in a single digital environ-ment, companies gain the means for continuous improvement that is the key to supporting lean manufacturing and value stream mapping initiatives.

Quality is another factor criti-cal in the success of a product. Digital manufacturing provides

the capabilities to simulate manufacturing and production processes prior to manufacture in order to ensure high quality and smooth flow.

Further, digital simulation helps in reducing risk by ensur-ing process simulation results are available in time to influence the relevant decisions. Thus, it elimi-nates downstream costs caused by compressed schedules or last minute change orders.

Launch strategies, which typi-cally are based on anticipatory methods for demand forecasts, usually dictate how much of what should be manufactured where and when. Any failure to accu-rately plan and deliver—results in missed opportunities, redundant stock and significant costs.

ConclusionAberdeen Group’s Product Innova-tion Agenda benchmark deter-mined that—companies that are best-in-class in new product development and intro-duction tend to share the follow-ing characteristics:l Innovation strategy is centrally controlled or coordinatedl A senior manager is directly responsible for overseeing the full processl Product development and manufacture is enabled by the implementation of PLMl Measurement of innovation performance is frequent, and has visibility at the enterprise level

The group also found that best-in-class companies are four times more likely to have PLM-related technology than their poorer per-forming competitors. Companies that are better able to meet their new product development targets also are more likely to have cen-tralized data and product knowl-edge than the industry norm.

For companies that want to maintain market leadership, it is not enough to implement point

solutions. An integrated, digital environment is required. PLM provides the only way for these applications to be tied together.

Manufacturers can realize significant benefits from taking these steps. The findings of Aberdeen Group are cor-roborated by the U.S. National Institute of Standards & Technol-ogy, which outlines some below-the-line benefits:l 30 to 70 per cent less develop-

ment timel 65 to 90 per cent fewer engi-

neering changesl 20 to 90 per cent less time to

marketl 200 to 600 per cent higher

qualityl 20 to 110 per cent higher

white collar productivity

For new product development initiatives, PLM provides an opportunity to link key business efforts, such as strategic portfolio management and program execu-tion, to operational execution in product development and manu-facture—in a way that brings together development, marketing and sales.

At the end of the day PLM en-ables companies to build a Global Innovation Network that address-es their needs while setting the stage for increased innovation, increased revenues and acceler-ated business growth. n

Vivek Marwaha is the Director, Marketing,

Siemens PLM, India.

Digital simulation helps in reducing risk by ensuring process simulation results are available in time to influence the relevant decisions

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facilities & operations

Product Data Manage-ment (PDM) or Product Lifecycle Management (PLM)—the question

often asked is which system is best suited for your manufactur-ing organisation? Though, both programmes rely on a solid PDM foundation, selecting the right one from the many competing in the market is a challenge. While examining the differences between PDM and PLM, it is

prudent to analyse the inherent merits, though different benefits are derivable of the two.

All design engineering, product development and manufacturing organizations require an auto-mated solution for managing, utilizing and leveraging 3D CAD design data. Selecting the most suitable PDM or PLM system, however, can be challenging for most manufacturers. Do you need a PDM system or a PLM application? Before making your decision, evaluate: What are the major differences between PDM and PLM? Is PDM necessary for your organization? What steps are required before you imple-ment PLM?

A significant amount of the confusion surrounding PDM and PLM stems from a basic mis-con-ception about the two technolo-gies. Although, many manufactur-ers believe they have to choose between PDM and PLM, the choice is not entirely an either-

or proposition. In fact, all PLM systems use some form of PDM as the underlying data foundation on which they operate. Product development organizations and manufacturing concerns should address a key question: Do we need a full-blown PLM applica-tion, or will a PDM system meet our current and future needs?

The answer to this question is to first examine the primary differences between PDM and PLM systems, and then anticipate how each approach relates to the unique characteristics of your organization. While PDM focuses on managing design data as it relates to product development processes, PLM centers on reen-gineering product development and manufacturing processes as they relate to product lifecycles. PDM is a design-focused technol-ogy that increases efficiencies within existing product develop-ment processes by improving the management of product design

Very large and globally spread manufacturing organizations can enjoy all the inherent benefits of implementation of Product Lifecycle Management software, however, for not-so-big manufacturers Product Data Management software is a better choice, keeping in view its requirements, implementation time, cost and capability.

by ravi varadarajan

Choosing the

Assessing the Size of an OrganizationSoftware

Right

While examining the

differences between PDM and PLM, it is prudent to analyse the inherent merits,

though different benefits are derivable of

the two

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data. PLM, on the other hand, is a strategic, process-centered approach that leverages PDM and other technologies―along with consulting services―to manage product lifecycles, remakes pro-cesses and increases output. As a result, PLM improves productivity across the connected enterprise rather than in a single depart-ment or a specific process.

Determining the ideal system not only requires a thorough as-sessment of the goals, structure, and needs of your product devel-opment and manufacturing orga-nizations, but also an in-depth understanding of how PDM is critical to competing successfully in today’s global marketplace.

As more and more compa-nies migrate from 2D to 3D CAD systems for their primary product development platform, PDM has become a virtual necessity for manufacturers. While the move to 3D produces many benefits, including reduced cycle time, cost savings, quality improvements and greater innovation, 3D CAD systems also create a new set of data management challenges.

By becoming more produc-tive with a 3D system, engineers are generating greater volumes of data. In addition, 3D files contain a variety of references, associations and interrelation-ships, which link them to other files, such as parts, drawings, bills of materials (BOMs) multiple configurations, assemblies, NC programming, and documenta-tion. That is why engineers must have a reliable system for manag-ing, preserving, and safeguard-ing these links. When numerous revisions are the norm, different engineers will work within assem-blies, or more than one person will collaborate on a design.

By its very nature, 3D CAD in-creases the volume and complex-ity of product design data, and requires a capable PDM applica-

tion to prevent data corruption, file overwriting, lost file associa-tions, and costly data errors. A PDM system can also help product developers automate workflow processes and boost productivity, resulting in faster product time-to-market, shorter development cycles, reduced development costs, and better product designs.

PDM has become a critical technology for all manufacturers using 3D CAD, since some degree of overlap does exist between PDM and PLM capabilities. The decision to take the additional step to a PLM system depends on the specific characteristics of your manufacturing organiza-tion. While a PDM system may provide a complete solution for some situations, other require-ments may indicate the need for a PLM solution.

Different manufacturers have different needsWhile product development orga-nizations and manufacturers of all sizes benefit from PDM technol-ogy, a PLM system is more suited to large, global manufacturing concerns rather than small and midsize manufacturers. In fact, the data management capabilities of PLM are available with a PDM system, at a substantially lower cost and with far less disrup-tion, because PDM is a subset of PLM. Typically, a PLM solution includes PDM software or PDM functionality, as well as a range of other tools and processes, such as enterprise resource planning (ERP), supply chain management (SCM), customer relationship management (CRM) and applica-tion lifecycle management (ALM) systems.

The scope and associated costs of a PLM system and the fact that PDM provides some PLM data management functional-ity—are the reasons why an as-

sessment of your organization is crucial in determining whether to pursue a PLM strategy. Company size is an important decision factor for PLM. Usually, only large global corporations have the resources to afford PLM and the breadth of enterprise to justify it.

When considering the require-ments for PLM, you should take into account the amount of gross revenues and the number of employees, CAD users and non-CAD users who need access to product design data. All these factors will impact the total cost, planning requirements, imple-mentation time, IT infrastructure needs, degree of customization and maintenance required to sup-port a PLM installation.

Furthermore, you should as-sess whether your company is effectively leveraging product design data to automate develop-ment processes, and if poten-tial exists for improving future efficiency. If you find that your company is not efficiently manag-ing product design data, PDM might be a more practical first step before fully committing to a PLM application.

To determine if the potential benefits of PLM outweigh the cost, consider these questions: Do you want to maximize efficien-cies within existing processes, or are you more open to reengineer-ing your entire enterprise? Do you

the data management capabilities of PLM are available with a PDM system, at a substantially lower cost and with far less disruption

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facilities & operationssee any existing opportunities for process reengineering? Is your enterprise large enough to benefit from PLM? Your answers can help you decide whether to begin with PDM tools before making the more sizable and resource-heavy commitment to a PLM system.

PDM—the first step for mainstream manufacturers Even though some large, global corporations have enjoyed suc-cess with PLM implementations, the vast majority of mainstream manufacturers—primarily small and midsize companies—simply cannot afford and are not ready

for PLM. These companies will benefit more quickly and substan-tially from a PDM system.

Given the accelerating migra-tion from 2D to 3D CAD, PDM meets a manufacturer’s most pressing design data technology needs. Before you can leverage product design data for PLM purposes, you must be able to find, configure and manage it—functionality that a PDM sys-tem provides.

Implementing a PDM system is a more manageable, affordable step for mainstream manufactur-ers. By using 3D CAD data in conjunction with a PDM solution, you can improve fundamental product design and engineering processes that support automated

manufacturing, while increasing productivity at each stage of your existing development process.

In addition to costing much less than PLM applications, PDM systems are faster and easier to implement. Manufacturers can implement some PDM systems in a single day or over a long weekend, while others can take several days. Unless customiza-tion services are required, any consulting fees associated with the implementation are typically minimal. Conversely, PLM solu-tions can take months and even years to implement and gener-ally require lengthy, expensive consulting engagements.

Mainstream manufacturers can accelerate their return on invest-ment (RoI) by first acquiring a PDM solution to get their product design data in order. Training requirements for PDM systems are generally less demanding than PLM systems, both in terms of training length and the number of employees involved. With a PDM solution, system adminis-tration is also simpler and less labour-intensive. Make sure your PDM solution is scalable, and inquire about its compatibility and interoperability with ERP and PLM systems.

PDM sets the foundation for future PLMBy making PDM your first step, you will set a solid data founda-tion. As your company grows, you can build upon it with a PLM system, if needed. Most of the manufacturers that have real-ized success with PLM are global enterprises with multiple loca-tions, large organizations, and replicable product data. PLM has helped them optimize processes across markets and countries through the reuse of design data, product components, tooling, logistics and scheduling. Develop-ing and manufacturing a new car

model in another market using the same chassis and tooling from a previous car design is one example of how a company can use a PLM system to leverage its PDM foundation.

By implementing a PDM system, mainstream manufactur-ers can realize many PLM system benefits almost immediately, and still they have the option to grow into a PLM system later. In addi-tion to providing secure man-agement and control of product design data, PDM systems can manage workflows, streamline operations, drive innovation, increase overall effectiveness, integrate certain systems and accelerate time-to-market. A PDM solution can also facilitate design reuse. PDM not only enables man-ufacturers to classify, organize and group design information for fast search and retrieval, but also to establish an automated pro-cess for channeling design data throughout the product develop-ment process.

In addition, a PDM system can automatically capture a complete, accurate and detailed audit trail—from start to fin-ish—for every product, assembly and component that your product development organization cre-ates. If you decide to adopt a PLM strategy, your company will need a solid PDM foundation to lever-age product lifecycle information at the enterprise level.

For many mainstream compa-nies, a full-blown PLM solution is simply beyond their reach, in terms of both the resources required for implementation and the size of the enterprise it can benefit. PLM will have broader application as technology ad-vances, making the process sim-pler, faster and more affordable. By implementing a PDM system, you can realize the efficiencies of effective data management today, while laying the groundwork for

By using 3D CAD data

in conjunction with a PDM solution, you can improve fundamental

product design and engineering processes

that support automated manufacturing

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a potential PLM deployment in the future.

As the migration from 2D to 3D CAD systems continues to ac-celerate, manufacturing organiza-tions need automated solutions for managing, utilizing, and lever-aging 3D CAD design data. Unlike flat, distinct 2D data, 3D files contain a variety of references, associations and interrelation-ships that link them to other files, such as parts, drawings, bills of materials (BOMs), multiple configurations, assemblies, NC programming and documentation. In the 3D world, engineers need a system for managing, preserv-ing and safeguarding these links to prevent data corruption, file overwriting, lost file associations and costly data errors.

A PDM system can help prod-uct developers automate workflow processes and boost productivity, resulting in faster product time-

to-market, shorter development cycles, reduced development costs and better product designs. Today’s design engineering, product development and manu-facturing organizations face the challenge of determining whether to implement a PDM solution or a full-blown PLM system.

For the vast majority of main-stream manufacturers—primarily small and midsize companies—PDM is the fastest, most afford-able and most realistic choice. A design-focused technology, PDM increases efficiency within exist-ing product development process-es by improving the management of product design data.

A full-blown PLM system is more suitable for large, global enterprises with multiple loca-tions, large organizations, and replicable product data. PLM is a strategic, process-focused ap-proach that leverages PDM and

other technologies to manage product lifecycles, while improv-ing productivity throughout the connected enterprise. Typically, PLM systems are more expensive, take longer time to implement, and require greater levels of con-sulting services. n

Ravi Varadarajan is the Technical Man-

ager - India & SAARC, Dassault Systèmes

SolidWorks Corp.

Examine the primary differences between PDM and PLM systems, and then anticipate how each approach relates to the unique characteristics of your organization

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facilities & operations

Automotive Industry is constantly looking at ways and means of reducing costs and stay-

ing profitable while delivering on time. Common denominator in all these challenges is design. Com-panies investing in developing indigenous design technologies, emerge successful in the world market and are able to sustain and innovate at a higher pace than the rest of the competitors. This is possible on account of the following capabilities:l Delivering products faster with up-front Engineering Design Validation as a part of the product development process while com-pressing the cycle timel Lean Design by incorporating Value Engineering as a part of the design process ensuring eval-uation of least cost alternatives before even the first prototype is developedl Increasing Reliability by Design—an initiative that will eliminate hidden costs associated with product recall, re-design and/ or replacement of parts

‘Valuefacture’ of a product ensures product acceptance by customer while assuring improve-ment in bottomline profitability. Companies that have identified Design Engineering as a profit centre have continued to invest in tools and technologies that augment Design Validation with assured return on investment.

Challenges Faced by the Automotive IndustryIncreasing functional complexity, predatory pricing, compulsive cost reduction commitments, ag-gressive deadlines, field failures, warranty costs, product recalls are too familiar situations in the automotive sector. Almost all automotive tier I and II suppliers and their vendors share these common issues.

All cross-functional teams in every organization deal with one thing in common – drawings. A reflection of perfection in design, drawings affect the profitability of any organization. Perfection in design is achieved only by validat-ing the design concept, and con-tinuously refining the design to enhance value and performance.

Imagine what a 10 per cent weight reduction can do to a com-pany’s bottomline profitability. Add to it 10 per cent higher effi-ciency than a competitive product or technology, the company’s Unique Selling Proposition (USP) just got stronger. Now, choose alternate cost-effective material, the company has just got the winning combination it needed. All this is possible if the design department is given Cost Reduction Targets and Perfor-mance Enhancement Targets—initiatives that will go a long way in increasing the gap between the company and its competitors. Such targets are achievable only by Design Validation.

Physical testing of any engineering part is often destructive, and it leaves no clue to the cause of failure. Moreover, it is a costly and time consuming affair. Design Validation tools can indicate the weaknesses in the proposed design at the design stage only. Thus for manufacturers, it is the most economic and fastest testing tool to proceed with the design of a new product.

by natarajan r

Perfecting the Art of Design Engineering

Design validation of

automotive sub-systems

Addressing breakage with warranty period

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What Is Design Validation?Ensuring the design meets the fit, form and functional require-ments specified in the statement of requirement for a product, by means of analytical and / or phys-ical testing, is commonly referred to as Design Validation. Analytical methods include Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD), Kine-matic Analysis of Mechanisms and Tolerance Stack up Analysis. Physical testing includes deflec-tion measurements, strain gaug-ing, tri-axial vibration testing, measuring fluid flow parameters, temperature measurement, accel-erated durability testing, on-road vehicle testing, four-post vehicle testing, frequency response measurements, hot-chamber and cold-chamber testing among oth-ers. For physical testing, a set of prototypes (preferred minimum number is eight) conforming to dimensional specifications are necessary. For analytical testing a three-dimensional CAD model of the design is sufficient.

Why Design Validation?Imagine a situation wherein a product needs to be tested for tri-axial vibration response to meet functional requirements. After building a set of acceptable pro-totypes, the assemblies are tested individually on a shaker table, one direction at a time. At the end of the test, that could last anywhere between a few hours to a few days, if failures are witnessed then design changes need to be effected. What caused the failure in the first place? At the end of the physical testing, one is left with only a failed prototype, and not a solution. Add to this the predicament to deliver on time, tool change, cost implica-tions, loss of confidence and above all, customer trust, we have a complex challenge of mon-strous proportions.

On the contrary, if the design team had been able to validate the design using analytical methods, evaluate alternatives that are cost-effective and predict the failure modes and ensure fatigue analysis yielded higher cycles than test requirements, the first prototypes would have passed the test, leading to a win-win situation for the company and its customer.

Every organization needs to give the best to the customer. Every employee needs to give the best to the organization. De-sign team has to deliver the best products. This is possible only by constant innovation and design validation.

Basic objectives of any orga-nization in terms of critical busi-ness issues are met by Design Validation. Answers to any of the following questions, in affirma-tive, would emphasize the need for Design Validation as a part of the design process.l Is profitability under threat from predatory pricing?l Have we developed the best-in-class cost-effective product?l Is technology important for the product to survive?l Is there a necessity to improve the product’s performance?l Is cost reduction a mandatory requirement?

Functional Design Validation for Automotive Components and Systems Stiffness and deflection analy-ses: Stiffness of automotive parts is vital to meet performance cri-teria, especially in parts such as brackets, mounts, body structure components, machined castings among others. Stiffness studies find immediate relevance in fol-lowing areas:l Anti-vibration mount designl Suspension attachment to body structurel Instrument panel support structure

l Brackets used in mounting sub-systems such as water pump, oil pump, radiator, cross-member re-inforcements, steering attach-ment among othersl Machining of casings—to maintain tolerance of straight-ness, flatness, location and orientationl Tyre deflection due to inflation and loading—for ride comfort and force transmissibility studiesFrequency and buckling analy-ses: It is a well known fact that resonant conditions reduce life of components. Systems designed for limit loads in axially-loaded members need to have buckling calculations done to ascertain safety and reliability. Some of the benefits of Frequency and Buckling Analyses for automotive systems include:l Natural frequency calculations for body structures, mounts, support brackets, rotating components including fans, trans-mission elements, power-train among othersl Limit load calculations using linearized buckling analysis for steering systems, suspension components, engine components, brackets and body structure sub-systems

Frequency calculations are a pre-requisite for performing response estimations based on harmonic and random excitations.

Durability and fatigue analy-ses: (say) A vehicle is tested on a four-post shaker system using

Gear box casing stress analysis

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facilities & operations

road-loads as input. At the end of testing, components are found to have failed. Since loads trans-mitted to the failed components would not be known, re-design to overcome the failure is a daunting task. A sy stem lev el an alysis w ith fatigue calculations would throw light into vulnerable areas in the system and help address the failure issues. This is a powerful approach to solve such issues, in addition to predicting possible modes of failure.

Components are subjected to cyclical load testing on test rigs to ensure required number of cycles are completed without evi-dence of failure. This requirement can be easily tested on a digital prototye virtually to ascertain zones of failure, cycles to failure and modes of failure.

When this exercise is carried out at the design stage, it is pos-sible to evaluate alternate designs to arrive at least cost designs for higher profitability.

Vibration and dynamic analyses: Accelerated durability testing is conducted by plac-ing automotive sub-systems on shaker tables, and subjecting the same to varying base excitations such as fixed-amplitude sine-sweep or random excitations. Life is consumed in these tests rapidly leading to a failure. If no failures are evident after a stipulated du-ration, the component(s) are said to have passed the criteria.

This can be easily verified on digital designs using simula-

tion approach first by extracting required number of design modes and then performing a post-dy-namic analysis for computing the response characteristics.

The advantage of digital simu-lation is enhanced by performing a combination of ‘what-if’ scenar-ios that is generally unavailable in test rigs unless an expensive investment is made for special purpose testing equipment.

Thermal and fluid flow analyses: Estimation of tempera-ture, pressure, velocity among other parameters can be com-puted using CFD in combination with FEA for thermal deformation and effect of pressure on struc-tural side.

Be it electronic thermal management of engine control systems, climate control devices, radiator circuit, fan studies, brake rotor cooling, hot-and-cold- chamber testing, simulation has come a long way in addressing critical performance challenges and optimization of design.

Several correlations between test and analysis data have re-vealed the powerful technological advantage a manufacturer enjoys by implementing these solutions effectively.

CFD is very useful to estimate characteristics of water pump, oil pump, fuel delivery devices and systems among other sub-systems.

Non-linear analysis: Critical sealing systems, light weight com-posites, manufacturing process

simulations require sophisticated non-linear analytical treatment.

Effectiveness of sealing sys-tems under assembled conditions involving initial deformation can be found using non-linear simula-tion analysis.

Large deformation analysis and large displacement analysis ensure that product safety and performance are not affected during function. Seals, gaskets, bellows, hoses, weather bead-ing, tyre inflation and loading are some of the areas that non-linear analysis finds application in the automotive sector.

Kinematic analysis: Mecha-nisms find use in automotive industry extensively. Door closure, windows, accelerator, braking, fuel-trap-door open-ing, transmission gear selection, hood/ deck-lid opening, seat actu-ation are some of the areas where kinematic analysis is important—to ensure fail-safe actuation and performance. Forces calculated using kinematic analysis will be used in FEA to estimate stresses and deflections.

ConclusionDesign Validation, integrated as a part of the design process ensures that automotive prod-ucts and systems produced are sustainable in the long run, in terms of:l Technological ownershipl Cost-effective product develop-

mentl Increased reliability and quality

Additional benefits from sus-tainable designs include conser-vation of material, resources and energy. Thus, Design Valida-tion definitely leads to Least Cost Designs, which is the need of the hour. n

Natarajan R is the Director of EGS Comput-

ers India, Chennai. The company provides

solutions in the areas of product design,

validation and engineering simulation. Velocity profile plot of water pump

Electronics cooling

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Fossil fueled power stations are major emitters of greenhouse gases.

The recently concluded Second Ministerial Meeting of Environment Ministers from Brazil,

India, China and South Africa—BRIC called for an early flow of the pledged $10 billion in 2010 with focus on the least developed countries, small island developing states and African countries—as proof of the commitment from the developed nations to urgently address the global challenge of climate change.

The group of four major emerg-ing economies—Brazil, South Af-rica, India and China—expressed their intention to communication information on their voluntary mitigation actions to the United Nations Framework Convention on Climate Change (UNFCCC).

This decision was taken at the second ministerial-level meeting of the basic group of countries. The basic members have already announced a series of voluntary mitigation actions for 2020, with India declaring to re-duce its greenhouse gas emission

intensity up to 25 per cent. The UNFCCC had asked the countries to convey by January 31 their stand on the legally non-binding Copenhagen Accord arrived at in the Danish capital.

The 15th Conference of the Parties (CoP 15) of the UNFCCC concluded in Copenhagen on 18 th December, 2009. At Cop 13 in Bali in December, 2007, the UNFCCC parties had decided to initiate a process to enhance the implementation of the convention through Long- term Co-operative Agreement (LCA) as outlined in the Bali Action Plan (BAP) and also agreed on the developed country emission reductions commitment in the next commit-ment period (beyond 2012) of the Kyoto Protocol (KP). The BAP addressed, inter alia, the mitiga-tion commitment of Developed Countries Parties, adaptation actions, financing, technology and capacity- building support

for these countries. Two Adhoc Working Groups (one for the LCA and one for the KP) had also been set up by the parties to UNFCCC, and the Kyoto Protocol with a mandate to negotiate and reach an agreed outcome on the issues at CoP at Copenhagen.

Copenhagen conference At the Copenhagen confer-ence, the negotiation in the two tracks—BAP and the KP were to be concluded and outcomes were to be reached. However, in course of negotiations over the past two years, large differences between parties were noticed on many of the major issues, particularly those relating to mitigation and finance for climate change. In Copenhagen, movement on some of the issues was visible e.g., technology, adaptations and Reducing Emissions through De-forestation and Degradation plus (REDD plus). However, the differ-

More than twenty per cent reduction in carbon emission intensity by 2020 is possible for India. A comprehensive National Action Plan on Climate Change has been drawn including eight National Missions focusing on potential development areas to mitigate carbon emission.

by kalpana palkhiwala

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Mitigating Climate Change Through National Effort

management & strategy

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management & strategy

ences in the negotiating positions of the parties on other aspects persisted. As a result, the parties could not conclude the talks, and have decided to continue with the ongoing negotiations in the two Ad Hoc Working Groups (AWGs) till CoP 16 scheduled at Mexico from Nov 29 to Dec 10, 2010.

While engaging constructively with the international com-munity on the issue, India has also pursued a strong domestic agenda for addressing climate change. Measures to decrease global temperature, quantified economy-wide emission reduc-tion targets, mitigation actions through afforestation are few of the key features of this confer-ence. India recognizes that a strategy for addressing climate change has to be based on the strategy of sustainable develop-ment. This is reflected in many of the major programmes address-ing climate variability concerns. Current government expenditure in India on adaptation to climate variability exceeds 2.6 per cent of the GDP, with agriculture, water resources, health and sanitation, forests, coastal zone infrastruc-ture and extreme events, being specific areas of concern.

As a part of its international obligations under the UNFCCC,

India prepares periodically the National Communication (NAT-COM), which gives an inventory of the Green House Gases (GHGs) emissions in India, assesses the vulnerability, impacts, and makes appropriate recommendations regarding social, economic and technology measures for ad-dressing climate change. First NATCOM was presented in 2004. The government is engaged in pre-paring NATCOM II, which will be presented to the UNFCCC in 2011. Preparation of NATCOM II is an exercise—based on an extensive network of research and scientific insertions in India, and draws upon expertise and excellence from different institutions.

An expert committee set up by the government has studied (2008) the impact of anthropo-genic climate change on India. The committee has come out with its first set of findings and the research agenda—that the minis-tries need to follow and implant in order to address India’s vulner-ability to anthropogenic climate change impacts.

India has prepared a compre-hensive National Action Plan on Climate Change (NAPCC), with a view to achieving sustainable development with co-benefit in terms of climate change. Eight

National Missions in the areas of solar energy, enhanced energy efficiency, sustainable agricul-ture, sustainable habitat, water, Himalayan eco-system, increas-ing the forest cover and strategic knowledge for climate change form the core of NAPCC. Besides, there are several initiatives envis-aged in the sectors pertaining to energy generations transport, renewable, disaster management and capacity building that are to be integrated with the develop-ment plans of the ministries. The Prime Minister’s Council on Climate Change (PMCCC), set up in June, 2007 monitors the prepa-ration of the National Missions, coordination and implementation of climate change related actions in India.

India’s Five Year Plans include a strategy for sustainable growth resulting in low carbon sustain-able development. Eleventh Five Year Plan includes an indica-tive target of increasing energy efficiency by 20 per cent by 2016-17. The National Mission on Enhanced Energy Efficiency (NMEEE) implemented by the Ministry of Power (MoP) through the Bureau of Energy Efficiency (BEE) seeks to pursue this goal. Planning Commission estimates suggest that India’s emission intensity has declined by 17.6 per cent between 1990 and 2005, and a 20 to 25 per cent reduction in emission intensity between 2005 and 2020 is possible. However, this will require the necessary actions in specific sectors, which should be undertaken to reduce emission intensity with necessary provisions of financial and tech-nological resources—including the domestic and international support for achieving low carbon sustainable development. n

Kalpana Palkhiwala is the Deputy Director,

Press Information Bureau, Government

of India.

A looseened flat mass of ice

is floating on sea because of

climate change.

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.com

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Scroll Compressor

Danfoss Industries has launched the R-410A variable speed scroll compressor for commercial air conditioning and heat pumps.

The new product, viz., the Apexx VSH series compressor, allows us-ers to realize energy savings of more than 20 per cent.

The product is designed to maintain high isentropic efficiency at part load by continuously matching the load by operating from 30 to 90 Hz. The balanced operation of the unit also helps reduce system stress.

The power factor of the product remains above 0.90, regardless of the load. Drive controller logic ensures a soft start that reduces inrush current and adds to energy savings.

The other advantages provided by the compressor include new degree of control capability, varied capacity, built-in reliabil-ity, user-definable closed-loop PID capacity controller and pack controller for hybrid units.

Danfoss IndustriesTel: +91-44-66501550Website: www.danfoss.com

product updateCharge Converter

Solar PV Panel

Servo Motors with Encoder

The ARO Fluid Technologies business of Ingersoll Rand

Industrial Technologies has launched a new line of air-operat-ed diaphragm pumps.

The new product, viz., the Pit Boss pump, has been developed particularly for mining, construc-tion, sump and other operations.

The pumps are available in three port sizes, viz., 11/2”, 2” and 3”.

The product provides flow rates of 217 gpm (824 lpm) to handle the most demanding jobs. The machine keeps foreign particles out of pump to eliminate failure

related to pumping debris. The pumps include optimized flow pas-sages, which enable transfer of fluids with particles up to 1” (25.4 mm) in diameter.

Ingersoll-RandTel: +1-732-6527000Website: www.ingersollrand.com

Diaphragm Pump

Turbine Flowmeters

COX Instruments has launched turbine flowmeters with ceramic ball bearings. The new product is suitable for water and cryo-

genic applications.The units are also suitable for high-temperature applications,

with temperature limits of 425°C (800°F). The products have a low coefficient of friction and offer wear-resistant characteristics.

They include helical rotors with a 2-3 millisecond response and a single-bearing low-friction design, which allows the meter to be mechanically linear over a wide flow range.

Besides, the product also includes COX’s advanced signal

conditioning technology and flow computers. The products are avail-able with calibrations in various fluids and viscosity blends.

COX InstrumentsTel: +1-480-9227446E-mail: [email protected]: www.cox-instruments.com

Columbia Research Laboratories has

launched in-line charge converters, viz., series 5810 and series 5812, to convert the charge signal from a high impedance piezoelectric sensor into a voltage signal with a low impedance output.

The products help eliminate the need for amplifiers in many applica-tions. The units feature two-wire configurations and a choice of three gain ranges.

The fixed factory settings comprise 0.1, 1.0 and 10.0 mV/pC. The series 5812 contains three active signal channels with

three individual 4 mA current sources powered from a common external standard DC power supply. Series 5810 in-line charge converters provide a wide frequency response in a rugged small package.

The units are suitable for applications where a low impedance sensor cannot withstand high temperature environ-

ments due to limitations of its internal electronics.

Columbia Research LaboratoriesTel: +1-800-8138471E-mail: [email protected]: www.columbiaresearchlab.com

Waaree Energies has launched crystalline solar PV modules

suitable for use with lantern, solar inverters, solar street lights, home lights, power packs and grid con-

nected solar power plants. The panels are compact in size and are made from high ef-ficiency cells. The product range comprises on-grid as well as off-grid systems.

The products are certified by IEC 61215, IEC 61730-2 CE, TUV, STQC and are UL1703 compliant.

Waaree EnergiesTel: +91-22-6696 3030E-mail: [email protected]: www.waareeenergies.com

JVL Industri Elektronik has launched MAC400 and

MAC800 integrated servo motors with a built-in absolute, multi-turn encoder. The encoder provides a multi-turn resolution of +/- 2048 complete revolutions and a single-turn resolution of either 8000 or 8192 (via software selection) with the possibility for higher resolutions.

Motors equipped with absolute encoders remember their position

even if the supply volt-age is interrupted, thus eliminating any reference run at re-start. Position is stored

using a cogwheel so that problems due

to exhausted batteries or memory that loses its information

do not arise.

JVL Industri Elektronik Tel: +1-45-45824440E-mail: [email protected]: www.jvl.dk

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Surface Finish Measuring Unit

Mahr Federal has introduced a new portable surface finish mea-suring instrument, viz., MarSurf M 300. The new product offers

cable-free Bluetooth connection between drive and evaluation units.The machine provides a wide range of surface parameters con-

forming to ISO, ASME, JIS and other standards. The user interface ensures ease of use for operators in 15 languages. The measure-ment cut-off length selections between 0.08 mm and 2.5 mm can be selected by the user or automatically determined by the product based on the actual surface profile being measured.

The MarSurf M 300 drive unit can be connected via wire-less Bluetooth or cable. The unit can take measurements in any position.

Mahr FederalTel: +1-401-7843100E-mail: [email protected]: www.mahr.com

Desktop Engraver

Xenetech has launched a ‘Duo’ desktop engraver, which combines laser engraving and cutting of a CO2 laser with diamond drag

engraving capability of a rotary engraver into one system.The new product enables engraving on a wide variety of materials

such as reflective metals, viz., aluminium, brass, silver, gold, stainless steel, plastics, wood, acrylic, leather, glass, coated metals

and others.The machine fits on a desk-

top and comes encased in a durable monocoque design with easy access panels.

Xenetech GlobalTel: +1-225-7520225E-mail: [email protected]: www.xenetech.com

Pressure Transducer

Inclinometer

Tensioner

ABB has launched MB3600-PH FT-NIR spectrometer for

the pharmaceutical and life sci-ences industries.

The benchtop analyzer can be fitted with a variety of accessories for accurate measurements on a broad range of applications such as laboratory QA/QC analysis, raw material identification and qualifi-cation, research and development, NIR method development and at-line process analytical technolo-gies measurements.

The product’s design and metrology allows the user to operate the instrument without any scheduled maintenance for a

period of ten years. The aluminium casting provides the level of pro-tection needed for intensive use of an analytical instrument in an industrial environment.

ABBTel: +41-0-43-3177111Website: www.abb.com

Spectrometer Misumi USA has introduced a new tensioner, a ready-to-

mount tension mechanism that eliminates design and assembly time and labour for end users.

The new product (Part Number TNSR) comes as a fully assembled unit, with slotted holes and adjust-ment screws for easy mounting, installation and tension control. The unit’s attachment plates and tension blocks are fashioned of 1018 carbon steel, tension pins of 1045 carbon steel and the slide plates of 1045 precision cast carbon steel.

The fully assembled units are available in various sizes and configurations, with selection based on application needs, such as stroke, load and tension.

The product is suitable for use with Misumi’s chain idlers, idlers with teeth for timing belts, idlers for timing pulleys and for flat belts.

Misumi USATel: +1-800-6817475E-mail: [email protected]: www.misumiusa.com

Sherborne Sensors has introduced the LSI

series of closed loop gravity referenced servo inclinometers. The new series is designed to withstand severe shock and vibration inputs for precision measurement capabilities.

The product includes a flexure-supported torque balancing system, which withstands shock inputs of 1500 g and provides accuracy and repeatability over a wide operating temperature range. For more durability, sensor

components and as-sociated electronics are contained within IP64 environmentally

sealed housing.The units are

suitable for use in civil engineering, struc-

tural monitoring, geophysical and seismic studies, machinery and structural alignment, pipeline leveling, crane safety and satellite antenna leveling applications.

Sherborne SensorsTel: +44-0-870-4440728E-mail: [email protected]: www.sherbornesensors.com

Transducers Direct has

launched its new TDH30 series of pressure transducers for general, high volume and low cost applications.

The new product has industry standard pres-sure and electrical connec-tions and can be customized as per OEM specifications.

The unit, made up of higher grade 316 stainless steel for cor-rosion resistance, uses piezoresis-

tance technology. The product is compact and has a vacuum range up to 10,000 psi.

The unit is suitable in food and beverage areas such as

soda machine dispensers and for trouble-free use in mobile

hydraulics found in construction and

agricultural equipment.

Transducers DirectTel: +1-513-5839491Website: www.transducersdirect.com

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Air Filter

Acrylic Adhesives

Permabond Engineering Adhesives has introduced two new struc-tural acrylic adhesives, viz., TA4810 and TA4820, which bond a

variety of metals and other substrates. The bonds are durable and provide resistance to high shear,

peel and impact stresses. The adhesives resist common industrial solvents, fuels and environmental conditions. These withstand the stresses of bonding plastics to metal by absorbing the stresses of expansion and contraction of substrates with varying coefficients of

thermal expansion. The two components,

1:1 mixable, methacrylate-based products are available in dual cartridge with static mixers. The thixotropic, non-sag properties facilitate easy dispensing on unlevel or verti-cal surfaces.

PermabondTel: +1-800-7140170Website: www.permabond.com

Parker Balston has launched com-

pressed air filters, which pro-vide 99.99+ per cent contaminate-free sterile air to food processing applications.

The stainless steel filters are designed for those areas in food facilities that are frequently exposed to aggressive wash down chemicals.

The filters remove oil, water, rust, bacteria and other viable organisms from compressed air

and other gases. The product is available in ¼” to 1” line

sizes with flow capacities to over 700 SCFM. The unit

is constructed of 304 stainless steel and is in

compliance with the requirements of the FDA.

The product line is available with auto

drains and an installed filter cartridge.

Parker Hannifin Tel: +1-800-3434048Website: www.balstonfilters.com

Freezer Validation System

MadgeTech has introduced ULT90, an ultra-low temperature freezer validation system for validation, mapping, stabilization

studies and temperature surveys.The new product acts as a temperature mapping and

validation solution for freezers of all sizes and configurations. The unit includes Cryo-Temp data loggers, a USB docking station, MadgeTech’s Secure FDA 21 CFR Part 11 software and IQ/OQ/PQ validation protocols.

The Cryo-Temp data logger measures and records temperatures of -86°C and is splash resistant. To provide data integrity and meet the requirements of FDA 21 CFR Part 11, the secure software includes electronic signatures, access codes, a secure data file and

an audit trail. For large freezers, the software graphs datasets from mul-tiple loggers to show variances in dif-ferent parts of the freezer. This helps reveal air stratification, hot spots and anomalies in chilling systems.

MadgeTechTel: +1-603-4562011E-mail: [email protected]: www.madgetechlifesciences.com

Vector Network Analyzer

Venturi Vacuum Pump

Battery Tester

Agilent Technolo-gies has intro-

duced the N9923A FieldFox RF vector network analyzer (VNA), which provides measurement stability and QuickCal calibration capabil-ity. QuickCal enables consistent measure-ment results and helps eliminate the need to carry a calibration kit into the field.

The analyzer is designed for field engineers working in aero-

space, defense and network equipment manufacturing, who characterize or trouble-shoot RF components for mission-critical com-munication systems.

The product allows operators to measure and display all four S-parameters.

Agilent TechnologiesTel: +1-408-3458886E-mail: [email protected]: www.agilent.com

Vaccon Company has launched an ultra-miniature, air-powered

and compact venturi vacuum pump. The new product is designed to operate over a wide range of supply pressures.

The pump is suit-able for drip control (suck back) in liquid dispensing or liquid transfer applications in medical, phar-maceutical, food processing and assembly industries.

The product weighs less than 1 oz., measures 1.25” in length and 0.56” OD. The unit provides quiet

operation and can be located close to the

work source or desk top for minimal air consump-

tion. The product provides constant vacuum flow.

The unit is designed to operate at low input pressures of 10 psi. The pumps

generate vacuum levels from 5”Hg to 27” Hg with a

maximum 0.45 SCFM.

Vaccon CompanyTel: +1-800-8488788Website: www.vaccon.com

Clore Automotive has launched a new digital battery and

system tester from Solar. The new product, viz., BA7, is designed

for 12 volt batteries. The unit features an operating range of 7 to 15 V and has the capacity to test batteries rated between 100 to 1200 CCA. The product is compatible with a wide range of battery types, including conven-tional, maintenance free, AGM, gel cell and marine starting batteries. The tester is small, portable and pocket-sized.

Clore AutomotiveTel: +1-800-3282921Website: www.cloreautomotive.com

Venturi Vacuum Pump accon Company has launched an ultra-miniature, air-powered

and compact venturi vacuum pump. The new product is designed to operate over a wide range of supply

dispensing or liquid transfer applications in medical, phar-applications in medical, phar-applications in medical, phar

work source or desk top for minimal air consump

tion. The product provides constant vacuum flow.

generate vacuum levels from 5”Hg to 27” Hg with a

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product update

www.industry20.comfebruary 28, 2010 | industry 2.0 - technology management for decision-makers164

Ametek Calibration Instruments has launched the new

Jofra handheld pres-sure calibrator, which provides electrical genera-tion of pressure or vacuum with the touch of a key. The new product features a built-in electrical pump system.

The unit, viz., the HPC 600 is suitable for a wide range of high-accuracy pressure calibration applications ranging from simple tool type jobs to complex custody transfer systems.

The product is designed to work as a pressure indicator, pressure calibrator, a complete

mA loop calibrator (including 24-volt supply), a voltmeter,

thermometer and a pres-sure or vacuum generator.

The unit is available as a ready-to-test system, complete with hose, fittings and soft case.

Ametek US Gauge DivisionTel: +1-800-5279999

E-mail: [email protected] Website: www.chatillon.com

Gas Calibrator

General Monitors has launched a new remote gas calibrator, viz., RGC-IR for the IR400 infrared point gas detector. The new

product helps simplify the time-consuming process of performing combustible gas detector calibration tests and checks.

The unit makes it easier to calibrate remote mounted infrared gas detectors. The product allows users to test and calibrate the IR400 and also the IR2100, from a distance of 100 feet (31 metres).

The product does not affect sensor response, as evidenced by T50 response times of 6 - 7 seconds and T90 response times of 10

seconds. The unit is suitable for op-eration at maximum air velocities of 13 metres/second (30 miles/hour). Along with the IR400 gas de-tector, it is suitable for applications such as drilling rigs, compressor stations and refineries.

General MonitorsTel: +1-949-581-4464E-mail: [email protected]: www.generalmonitors.com

Moulded Case Circuit Breaker

Indexing Table

Schunk has expanded its Gemotec modular system for

modular assembly technology by a new pneumatically driven ring indexing table type RST-P. The new product can cycle either to the left or to the right or alternate without requiring any modifications.

The RST-P offers the possibility of changing the cycle type in any order and any number of times. If an error should occur, the work-ing process can be stopped, a few working steps can be returned and repeated.

The table is designed as a modular system, and is equipped with a fixed central section with a large through hole. As only

the cycle ring turns, it is easier to add

components and assemblies, and no moveable air hoses for com-pressed air supply are necessary.

The angular adjustment can be defined with spacers to 4, 6, 8 or 12 steps.

Schunk IndiaTel: +91-80-40538999E-mail: [email protected]: www.in.schunk.com

Timer Ball Valve

Keller Products has launched a new programmable automatic timer for compressed air supply, which allows prescheduled

untended operation of any air-driven equipment.The new timer ball valve opens and closes a compressed air line

for a selected duration on a programmable schedule.The product is suitable for conserving

compressed air in facilities with limited com-pressed air supply. The features of the unit include an easy-to-program quartz controlled timer with multiple cycles possible in each day. The unit is supplied with a 115V cord and plug and a 1 inch NPT ball valve for the compressed air.

Keller ProductsTel: +1-800-3528422Website: www.kellerproducts.net

Handheld Calibrator

Turret System

HPL has launched a current limiting

moulded case circuit breaker (MCCB) TAB series with new technology for heavy duty usage. The new product is suitable for circuit protection in individual enclosures, switchboards, lighting, power panels and mo-tor control centres. The unit is de-signed to be trip- free and protects systems against overload and short circuits up to 65kA with the full range of accessories.

The product is made up of BMC material, which is unbreakable and has a high dielectric strength. The unit is available in various frame sizes rated cur-rent from 10A- 800A in both fixed and adjustable magnetic settings.

HPL IndiaTel : +91-11-23234411E-mail: [email protected]: www.hplindia.com

Quality Tool has launched a turret punch/laser system,

viz., the Amada EMLK3610NT. The new equipment includes a servo-

electric drive system.

The product provides high-speed, tight-toler-ance punching and laser cutting along with forming capability and

automated load/unload material handling systems.

The equipment is specifically designed for production of short-run and complex sheet metal parts. The machine is capable of delivering 500 HPM on 1-inch centres.

The unit handles up to 8-gauge material in 10-foot sheets (8 feet without repositioning).

Quality ToolTel: +1-651-6467433Website: www.qualitytool.com

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