Performance of Financial and Investment Companies, 1998-99 (Part 5 of 5)

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ପ୍ରକାଶିତ ତାରିଖ ନଭେମ୍ବର 16, 2000

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Performance of Financial and Investment Companies, 1998-99 (Part 5 of 5)

ANNEXURE 2 : COMBINED BALANCE SHEET - SELECTED FINANCIAL AND INVESTMENT COMPANIES, 1996-97 TO 1998-99

									(Rs. lakh)
				ALL COMPANIES			ALL COMPANIES
				EXCLUDING ICICI AND HDFC
	CAPITAL AND LIABILITIES			(725)			(727)
				1996-97	1997-98	1998-99	1996-97	1997-98	1998-99
	1			2	3	4	5	6	7
A.		SHARE CAPITAL		3,641,89	3,801,21	4,096,01	4,459,21	4,758,20	6,077,87
	1.	Paid-up capital		3,640,46	3,799,67	4,094,38	4,457,78	4,756,66	6,076,24
		(a)Ordinary		3,147,88	3,351,28	3,603,24	3,803,40	3,973,39	4,202,44
		Of which, bonus		153,58	165,54	165,89	172,76	172,29	172,64
		(b) Preference		492,58	448,39	491,14	654,38	783,27	1,873,80
	2.	Forfeited shares		1,43	1,54	1,63	1,43	1,54	1,63
B.		RESERVES AND SURPLUS		4,417,01	4,742,76	4,744,70	9,890,57	10,397,02	11,252,52
	3.	Capital reserve		2,353,02	2,516,72	2,573,32	5,171,40	5,406,92	5,379,40
		Of which, premium on shares		2,283,39	2,417,41	2,444,99	4,594,71	4,554,56	4,557,56
	4.	Investment allowance reserve		29,28	17,45	11,93	29,90	18,07	13,59
	5.	Sinking funds		106,95	184,00	210,45	169,10	209,81	210,45
	6.	Other reserves		1,927,77	2,024,60	1,949,00	4,520,18	4,762,23	5,649,08
C.		BORROWINGS		15,210,80	17,658,63	18,637,88	52,896,06	64,053,04	75,429,09
	7.	Debentures @		1,875,32	2,918,47	3,974,16	17,218,65	25,066,41	35,616,56
	8.	Loans and advances		7,586,48	7,985,28	9,316,92	25,305,70	27,030,75	28,924,39
		(a)From banks		3,357,40	3,436,13	3,129,01	4,714,03	4,881,96	5,109,47
		Of which, short-term borrowings		3,120,92	2,889,80	2,622,22	4,287,82	4,335,64	4,602,68
		(b)From other Indian Financial Institutions		1,438,91	1,380,68	1,077,90	4,554,15	4,229,60	3,361,00
		(c) From Foreign Institutional agencies		32,77	58,26	116,42	6,839,35	7,122,65	7,322,27
		(d)From government and semi-government bodies		2,00	4,13	4,19	1,362,21	2,487,09	3,301,65
		(e)From companies		1,426,16	1,707,89	2,798,81	3,217,21	2,740,67	3,660,24
		(f) From others		1,329,24	1,398,19	2,190,59	4,618,75	5,568,78	6,169,76
	9.	Deferred payments		375,90	298,63	321,95	376,77	298,63	321,95
	10.	Public deposits		5,373,09	6,456,26	5,024,86	9,994,95	11,657,25	10,566,21
	(Of total borrowings, debt)			9,335,03	11,674,60	11,026,36	43,842,19	55,369,30	64,791,92
D.		TRADE DUES AND OTHER CURRENT LIABILITIES		3,863,08	4,672,37	5,068,14	6,415,97	7,972,52	9,647,54
	11.	Sundry creditors		907,64	911,93	1,132,43	1,437,81	1,367,27	1,888,05
	12.	Acceptances		8,91	10,58	1,42	8,91	10,58	1,42
	13.	Liabilities to subsidiaries
		and holding companies		8,40	11,48	4,56	8,40	13,57	9,55
	14.	Advances and deposits from
		customers, agents, etc.		484,06	544,79	552,86	690,00	1,075,34	1,029,75
	15.	Interest accrued on loans		590,91	763,15	889,74	1,778,27	2,256,27	3,198,82
	16.	Others		1,863,17	2,430,44	2,487,14	2,492,59	3,249,50	3,519,95
E.		PROVISIONS		398,15	486,01	831,83	1,304,60	1,911,82	2,651,97
	17.	Taxation		-	-	-	-	-	-
		(net of advance of income-tax)
	18.	Dividends		255,33	199,06	201,97	529,49	576,36	608,46
	19.	Other current provisions		97,85	118,72	232,40	228,25	167,06	365,82
	20.	Non-current provisions		44,97	168,23	397,46	546,87	1,168,40	1,677,70
F.	21.	MISCELLANEOUS NON-
		CURRENT LIABILITIES		2	12	1	2	12	1
	22.	TOTAL		27,530,95	31,361,10	33,378,56	74,966,43	89,092,72	1,05,058,99
									(Rs. lakh)
				ALL COMPANIES			ALL COMPANIES
				EXCLUDING ICICI AND HDFC
	ASSESTS			(725)			(727)
				1996-97	1997-98	1998-99	1996-97	1997-98	1998-99
	1			2	3	4	5	6	7
G.		CASH AND BANK BALANCES		667,18	745,59	693,82	3,712,59	4,420,84	5,211,61
	23.	Deposits with banks		591,61	660,00	613,89	3,488,04	4,097,86	4,969,73
	24.	Cash in hand		75,58	85,59	79,93	224,55	322,97	241,88
H.		INVESTMENTS		5,600,13	7,309,21	8,447,33	12,709,45	16,580,81	19,198,63
		Of which, quoted investments		3,367,20	3,522,29	3,955,03	5,776,69	6,128,55	6,437,52
	25.	Foreign securities		2,06	82	2	2,06	82	2
	26.	Indian securities		5,598,07	7,308,39	8,447,31	12,707,39	16,579,99	19,198,61
		(a)Government and
		semi-government securities		601,11	705,75	703,84	914,42	911,91	944,76
		(b)Public sector undertakings		80,99	161,88	147,65	227,10	398,34	390,91
		(c) Securities of financial institutions		164,63	122,26	95,31	342,40	180,77	443,28
		(d)Mutual funds		56,23	46,90	64,39	324,95	416,63	349,53
		(e)Shares and debentures of
		subsidiary/holding companies and
		companies in the same group		403,86	726,48	705,33	885,16	1,200,30	1,147,93
		(f) Shares and debentures of
		other Indian companies		4,240,37	5,488,95	6,681,89	9,915,59	13,327,22	15,780,62
		(g)Others		50,88	56,18	48,89	97,77	144,83	141,56
I.		RECEIVABLES		13,950,66	15,924,00	16,386,07	47,473,67	56,494,42	66,451,68
	27.	Loans and advances		12,325,03	14,016,05	14,208,29	43,994,05	52,781,21	60,443,22
		(a)Subsidiary companies		84,03	206,14	113,09	154,46	471,32	324,36
		(b)Holding companies and
		companies in the same group		8,59	31,40	19,54	8,59	31,40	19,54
		(c) Against hire purchase		7,436,11	8,567,75	8,004,21	8,374,88	9,371,28	8,265,83
		(d)Others		4,796,30	5,210,76	6,071,45	35,456,12	42,907,21	51,833,49
	28.	Book debts		1,625,63	1,907,95	2,177,78	3,479,62	3,713,21	6,008,46
		(a)Sundry debtors		902,48	1,034,27	1,356,26	1,226,07	1,247,01	1,666,74
		(b)Dividend/ Interest accrued		145,22	284,61	396,49	999,00	1,406,32	1,891,30
		(c) Deposits with government/ others		16,38	18,20	17,91	162,78	36,61	31,59
		(d)Others		561,55	570,87	407,12	1,091,77	1,023,27	2,418,83
J.		INVENTORIES		1,762,31	1,436,35	2,167,54	1,895,07	1,603,84	3,783,86
	29.	Government and semi-government securities		212,27	268,99	591,75	212,27	321,51	1,204,22
	30.	Industrial securities		1,514,70	1,098,41	1,424,44	1,640,93	1,200,43	2,428,29
	31.	Repossessed goods on hire purchase		19,97	37,34	90,18	26,50	50,28	90,18
	32.	Other goods, stores and others		15,37	31,61	61,17	15,37	31,61	61,17
K.	33.	ADVANCE OF INCOME-TAX		185,89	200,65	217,55	408,36	412,01	677,90
		(net of tax provision)
L.	34.	GROSS FIXED ASSETS		7,144,16	8,049,62	8,358,28	11,315,84	13,082,83	14,153,97
		Of which,	(a) Plant and machinery leased	4,340,98	4,481,47	4,617,98	7,324,94	8,008,06	8,642,75
			(b) Equipments leased	275,15	252,62	277,12	287,59	348,92	357,82
			(c) Vehicles leased	1,164,72	1,426,07	1,467,74	1,492,57	1,708,86	1,904,80
			(d) Other assets leased	276,66	463,76	310,79	556,98	744,08	591,11
M.	35.	Less: DEPRECIATION PROVISION		1,976,13	2,510,54	3,073,20	3,049,90	4,026,05	4,919,21
N.	36.	NET FIXED ASSETS		5,168,02	5,539,08	5,285,08	8,265,93	9,056,78	9,234,75
		Of which, assets leased		4,272,82	4,395,39	3,978,12	6,867,44	7,257,73	7,077,46
O.	37.	OTHER ASSETS		196,75	206,22	181,16	501,34	524,02	500,55
	38.	TOTAL		27,530,95	31,361,10	33,378,56	74,966,43	89,092,72	1,05,058,99

Note: Figures in brackets in column headings de note the number of companies.
@	Includes privately placed debentures.
-	Nil or negligible.

ANNEXURE 3 : SOURCES AND USES OF FUNDS - SELECTED FINANCIAL AND INVESTMENT COMPANIES, 1997-98 AND 1998-99

								(Rs. lakh)
				ALL COMPANIES			ALL COMPANIES
				EXCLUDING ICICI AND HDFC
	SOURCES OF FUNDS			(725)			(727)
				1997-98		1998-99	1997-98	1998-99
	1			2		3	4	5
INTERNAL SOURCES				755,36		844,62	1,874,59	2,174,01
A.	1.	PAID-UP CAPITAL		11,96		47	-21,68	47

B.		RESERVES AND SURPLUS		135,94		-47,30	316,59	806,26
	2.	Capital reserve		-26,11		7,39	45,65	-76,73
	3.	Investment allowance reserve		-11,83		-5,53	-11,83	-4,48
	4.	Sinking funds		77,05		26,45	40,71	63
	5.	Other reserves		96,82		-75,60	242,05	886,84
C.		PROVISIONS		607,46		891,44	1,579,68	1,367,27
	6.	Depreciation provision		534,37		562,51	976,11	893,02
	7.	Taxation (net of advance of income-tax)		-14,76		-16,90	-3,66	-265,89
	8.	Dividends		-56,27		2,91	46,87	32,09
	9.	Other current provisions		20,87		113,68	-61,19	198,76
	10.	Non-current provisions		123,26		229,23	621,54	509,30
EXTERNAL SOURCES				3,575,09		1,710,53	13,204,85	14,437,04

D.		PAID-UP CAPITAL		312,23		335,44	485,58	1,385,90
	11.	Net issues		147,36		294,32	320,66	1,344,78
	12.	Premium on shares		164,86		41,12	164,92	41,12
E.	13.	CAPITAL RECEIPTS		5,64		18	5,64	18
F.		BORROWINGS		2,447,84		979,25	11,156,98	11,376,05
	14.	Debentures @		1,043,15		1,055,69	7,847,76	10,550,15
	15.	Loans and advances		398,79		1,331,63	1,725,06	1,893,61
		(a)From banks		78,73		-307,12	167,93	227,50
		(b)From other Indian Financial Institutions		-58,23		-302,78	-324,55	-868,60
		(c) From Foreign Institutional agencies		25,49		58,15	283,31	199,62
		(d)From government and semi-government bodies		2,13		6	1,124,88	814,56
		(e)From companies		281,73		1,090,92	-476,55	919,57
		(f) From others		68,94		792,40	950,03	600,97
	16.	Deferred payments		-77,27		23,33	-78,14	23,33
	17.	Public deposits		1,083,17		-1,431,40	1,662,30	-1,091,04
G.		TRADE DUES AND OTHER CURRENT LIABILITIES		809,28		395,77	1,556,55	1,675,02
	18.	Sundry creditors		4,29		220,50	-70,55	520,79
	19.	Acceptances		1,67		-9,16	1,67	-9,16
	20.	Liabilities to subsidiaries and holding companies		3,08		-6,92	5,17	-4,02
	21.	Advances and deposits from customers, agents		60,73		8,07	385,34	-45,59
	22.	Interest accrued on loans		172,24		126,59	478,00	942,55
	23.	Others		567,27		56,69	756,91	270,44
H.	24.	MISCELLANEOUS NON-CURRENT
		LIABILITIES		10		-10	10	-10
	25.	TOTAL		4,330,45		2,555,15	15,079,44	16,611,05
I.		CASH AND BANK BALANCES		78,41	-51,77		708,25	790,77
	26.	Deposits with banks		68,40	-46,11		609,82	871,86
	27.	Cash in hand		10,02	-5,67		98,43	-81,10
J.		INVESTMENTS		1,709,08	1,138,12		3,871,36	2,643,41
		Of which, quoted investments		155,09	432,75		351,86	308,97
	28.	Foreign securities		-1,24	-80		-1,24	-80
	29.	Indian securities		1,710,32	1,138,93		3,872,60	2,644,21
		(a)Government and semi-government securities		104,64	-1,91		-2,51	32,85
		(b)Public sector undertakings		80,88	-14,22		171,24	-7,43
		(c) Securities of financial institutions		-42,36	-26,95		-161,63	262,52
		(d)Mutual funds		-9,33	17,49		91,69	-67,10
		(e)Shares and debentures of subsidiary/
		holding companies and companies in
		the same group		322,62	-21,14		315,14	-52,36
		(f) Shares and debentures of other Indian companies		1,248,58	1,192,94		3,411,62	2,478,99
		(g)Others		5,29	-7,29		47,05	-3,25
K.		RECEIVABLES		1,973,33	462,08		9,020,74	9,957,26
	30.	Loans and advances		1,691,02	192,24		8,787,15	7,662,03
		(a)Subsidiary companies		122,11	-93,05		316,86	-146,96
		(b)Holding companies and companies in the same group		22,81	-11,86		22,81	-11,86
		(c) Against hire purchase		1,131,65	-563,54		996,40	-1,105,44
		(d)Bills discounted		-181,39	-47,48		-206,91	-1,01
		(e)Others		595,85	908,16		7,657,99	8,927,30
	31.	Book debts		282,31	269,84		233,60	2,295,23
		(a)Sundry debtors		131,78	321,99		20,93	419,73
		(b)Dividend/ Interest accrued		139,39	111,89		407,32	484,98
		(c) Others		11,14	-164,04		-194,66	1,390,53
L.		INVENTORIES		-325,96	731,19		-291,23	2,180,02
	32.	Government and semi-government securities		56,72	322,76		109,24	882,70
	33.	Industrial securities		-416,28	326,03		-440,50	1,227,87
	34.	Repossessed goods on hire purchase		17,37	52,85		23,79	39,90
	35.	Other goods, stores and others		16,24	29,55		16,24	29,55
M.	36.	GROSS FIXED ASSETS		886,12	300,57		1,747,65	1,063,05
		Of which,	(a) Plant and machinery leased	140,50	136,51		683,12	634,69
			(b) Equipments leased	-22,53	24,50		61,33	8,90
			(c) Vehicles leased	261,36	41,66		216,29	195,94
			(d) Other assets leased	187,10	-152,97		187,10	-152,96

N.	37.	OTHER ASSETS		9,47	-25,05		22,67	-23,46
	38.	TOTAL		4,330,45	2,555,15		15,079,44	16,611,05

APPENDIX

Explanatory Notes to Various Statements

Due to rounding off of figures, the constituent items may not add up to the totals.

The growth rates of all the items and data on sources and uses of funds are adjusted for changes due to amalgamation of companies. These are also adjusted for revaluation, etc., wherever necessary.

Income includes non-operating surplus/ deficit but excludes transfers from reserves outstanding at the end of the previous year and amount carried forward at the end of the previous year.

Non-operating surplus/ deficit comprises (a) profit/ loss on account of (i) sale of fixed assets, etc., and (ii) revaluation/ devaluation of assets/ foreign currencies, (b) provisions no longer required written back, (c) insurance claims realised and (d) income/ expenditure relating to the previous years and such other items of non-current nature.

Profit/ loss on sale of financial investments is included in net profit/ loss in share dealings.

Total expenditure comprises interest payments, remuneration to employees, managerial remuneration, bad debts, other expenses, depreciation provision and other provisions.

Remuneration to employees comprises (a) salaries, wages and bonus, (b) provident fund and (c) employees' welfare expenses (including gratuity, etc.).

Tax provision includes tax deducted at source in respect of interest/ dividend received by the companies.

Operating profits are net of depreciation provision and interest payments.

Profit making companies are those companies making operating profits.

Ordinary dividend payment includes deferred dividends.

Retained profits comprises transfers to reserves and profit/ loss carried to balance-sheet.

Ordinary paid-up capital includes deferred shares.

Capital reserves include profit on sale of investments and fixed assets.

Other reserves include profits retained in the form of various specific reserves and profit/ loss carried to balance sheet.

Equity or Net worth comprises (a) paid-up capital, (b) forfeited shares and (c) all reserves and surplus.

Debentures include privately placed debentures with financial institutions.

Debt comprises (a) all borrowings from Government and semi-Government bodies, financial institutions other than banks, and from foreign institutional agencies, (b) borrowings from banks against mortgages and other long term securities, (c) borrowings from companies and others against mortgages and other long term securities, (d) debentures, deferred payment liabilities and public deposits.

Trade dues and other current liabilities-others includes share application money.