Finances of Large Public Limited Companies, 1997-98 (Part 5 of 5) - ஆர்பிஐ - Reserve Bank of India
Finances of Large Public Limited Companies, 1997-98 (Part 5 of 5)
Table 11 : Selected Financial Ratios of the Selected 807 Large Public Limited Companies Industry-Wise, 1995-96 to 1997-98 (Part 2 of 2)
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(Per cent) |
|
Paints, varnishes |
Basic industrial |
Chemical |
Cement |
|||||||||||
chemicals |
fertilizers |
|||||||||||||
|
(5) |
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|
(73) |
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|
(18) |
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|
(17) |
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ITEM |
95-96 |
96-97 |
97-98 |
95-96 |
96-97 |
97-98 |
95-96 |
96-97 |
97-98 |
95-96 |
96-97 |
97-98 |
|
|
1 |
|
38 |
39 |
40 |
41 |
42 |
43 |
44 |
45 |
46 |
47 |
48 |
49 |
A. |
CAPITAL STRUCTURE RATIOS |
|||||||||||||
1. |
Net fixed assets to total net |
|||||||||||||
assets |
22.5 |
27.6 |
31.6 |
50.7 |
54.0 |
54.6 |
50.1 |
53.5 |
54.7 |
54.0 |
56.9 |
58.6 |
||
2. |
Net worth to total net assets |
40.1 |
44.0 |
44.9 |
40.0 |
40.4 |
40.0 |
38.7 |
38.8 |
37.0 |
38.7 |
39.1 |
36.0 |
|
3. |
Debt to equity |
30.6 |
37.4 |
34.0 |
78.8 |
79.3 |
76.5 |
83.6 |
86.1 |
88.3 |
91.8 |
90.2 |
108.1 |
|
4. |
Debt-equity (adj. for revaluation |
|||||||||||||
reserves) |
30.6 |
37.4 |
33.9 |
79.8 |
83.5 |
76.4 |
83.6 |
91.0 |
88.3 |
94.1 |
90.2 |
113.3 |
||
5. |
Short term bank borrowing to |
|||||||||||||
inventory |
54.3 |
34.6 |
35.0 |
73.7 |
83.6 |
91.0 |
72.1 |
80.5 |
76.0 |
80.4 |
82.2 |
86.5 |
||
6. |
Outside liabilities to net worth |
149.3 |
127.3 |
122.7 |
149.9 |
147.5 |
150.3 |
158.5 |
157.7 |
170.3 |
158.1 |
155.7 |
177.7 |
|
B. |
LIQUIDITY RATIOS |
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1. |
Current assets to current |
|||||||||||||
liabilities* |
1.5 |
1.7 |
1.5 |
1.6 |
1.5 |
1.3 |
1.6 |
1.6 |
1.3 |
1.6 |
1.5 |
1.4 |
||
2. |
Quick assets to current |
|||||||||||||
liabilities |
49.1 |
56.2 |
51.0 |
65.9 |
58.8 |
48.4 |
63.7 |
51.5 |
42.1 |
69.2 |
54.7 |
58.2 |
||
3. |
Current assets to total |
|||||||||||||
net assets |
72.2 |
67.5 |
60.0 |
45.0 |
41.9 |
39.3 |
45.9 |
42.7 |
40.9 |
41.6 |
37.4 |
35.0 |
||
4. |
Sundry creditors to |
|||||||||||||
current assets |
18.8 |
19.1 |
18.7 |
23.4 |
21.6 |
23.6 |
26.3 |
22.4 |
26.9 |
23.0 |
17.8 |
16.4 |
||
5. |
Sundry creditors to |
|||||||||||||
net working capital |
55.1 |
46.2 |
55.7 |
62.9 |
62.6 |
94.3 |
69.9 |
63.0 |
103.9 |
59.7 |
56.0 |
56.8 |
||
C. |
ASSETS UTILIZATION |
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AND TURNOVER RATIOS |
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1. |
Sales to total net assets |
162.4 |
148.3 |
135.7 |
62.6 |
56.6 |
56.4 |
60.5 |
53.1 |
52.1 |
66.2 |
61.0 |
53.7 |
|
2. |
Sales to gross fixed assets |
* * |
* * |
** |
86.9 |
74.3 |
73.0 |
82.9 |
69.8 |
68.2 |
84.5 |
75.6 |
65.8 |
|
3. |
Inventories to sales |
21.8 |
19.8 |
21.1 |
21.6 |
21.9 |
22.7 |
22.3 |
24.0 |
24.7 |
16.8 |
18.0 |
19.0 |
|
4. |
Sundry debtors to sales |
10.8 |
11.4 |
11.9 |
21.5 |
20.1 |
19.0 |
20.6 |
16.3 |
16.0 |
15.5 |
14.8 |
17.0 |
|
5. |
Exports to sales |
1.7 |
1.1 |
0.7 |
5.0 |
4.8 |
5.5 |
1.5 |
0.8 |
1.0 |
4.4 |
4.0 |
4.3 |
|
6. |
Gross value added to |
|||||||||||||
gross fixed assets |
82.0 |
72.6 |
63.5 |
26.9 |
21.7 |
19.6 |
24.2 |
20.0 |
17.9 |
25.4 |
20.9 |
17.2 |
||
7. |
Raw material consumed to |
|||||||||||||
value of production |
56.3 |
52.5 |
51.9 |
42.8 |
42.4 |
44.8 |
45.1 |
44.0 |
48.0 |
17.1 |
16.9 |
16.0 |
||
D. |
PROFITABILITY RATIOS |
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1. |
Gross profits to total net assets |
19.9 |
19.5 |
18.0 |
13.7 |
10.5 |
9.4 |
12.8 |
10.2 |
9.7 |
13.3 |
9.8 |
6.3 |
|
2. |
Gross profits to sales |
12.2 |
13.1 |
13.3 |
21.9 |
18.5 |
16.6 |
21.1 |
19.2 |
18.6 |
20.2 |
16.1 |
11.8 |
|
3. |
Profits after tax to net worth |
25.1 |
21.5 |
22.2 |
18.7 |
10.7 |
9.7 |
17.9 |
12.0 |
11.8 |
21.3 |
10.6 |
3.5 |
|
4. |
Tax provision to profits before tax |
36.5 |
38.9 |
33.6 |
10.0 |
19.3 |
19.7 |
7.3 |
17.8 |
17.7 |
13.2 |
11.5 |
19.6 |
|
5. |
Profits retained to profits after tax |
69.7 |
53.0 |
57.6 |
72.8 |
59.6 |
61.5 |
74.8 |
66.7 |
65.2 |
81.3 |
70.8 |
43.0 |
|
6. |
Dividends to net worth |
7.6 |
10.1 |
9.4 |
5.1 |
4.3 |
3.8 |
4.5 |
4.0 |
4.1 |
4.0 |
3.1 |
2.0 |
|
7. |
Dividends to ordinary Paid-up |
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capital |
41.5 |
65.2 |
68.5 |
21.3 |
19.9 |
20.7 |
17.1 |
17.5 |
19.2 |
26.2 |
20.3 |
13.0 |
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(Per cent) |
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Rubber and rubber |
Paper and paper |
Construction |
Electricity genera- |
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products |
products |
tion and Supply |
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|
(16) |
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(29) |
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|
(11) |
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|
(7) |
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ITEM |
95-96 |
96-97 |
97-98 |
95-96 |
96-97 |
97-98 |
95-96 |
96-97 |
97-98 |
95-96 |
96-97 |
97-98 |
|
|
1 |
|
50 |
51 |
52 |
53 |
54 |
55 |
56 |
57 |
58 |
59 |
60 |
61 |
A. |
CAPITAL STRUCTURE RATIOS |
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1. |
Net fixed assets to total net |
|||||||||||||
assets |
35.8 |
36.3 |
38.5 |
50.4 |
52.8 |
57.1 |
48.0 |
24.5 |
66.9 |
68.2 |
66.2 |
62.4 |
||
2. |
Net worth to total net assets |
35.4 |
35.3 |
33.6 |
43.2 |
41.0 |
39.9 |
37.7 |
38.3 |
33.0 |
49.2 |
48.0 |
45.5 |
|
3. |
Debt to equity |
58.8 |
65.0 |
59.8 |
50.6 |
59.9 |
71.4 |
69.3 |
80.3 |
105.9 |
63.1 |
61.0 |
69.4 |
|
4. |
Debt-equity (adj. for revaluation |
|||||||||||||
reserves) |
73.5 |
65.0 |
59.5 |
50.6 |
59.9 |
81.1 |
69.4 |
80.3 |
105.9 |
63.1 |
61.0 |
69.3 |
||
5. |
Short term bank borrowing to |
|||||||||||||
inventory |
72.9 |
74.9 |
100.2 |
45.7 |
47.8 |
67.2 |
33.2 |
36.8 |
25.9 |
70.5 |
87.3 |
70.7 |
||
6. |
Outside liabilities to net worth |
182.3 |
183.0 |
198.0 |
131.3 |
144.2 |
150.7 |
164.9 |
161.4 |
203.1 |
103.2 |
108.1 |
119.7 |
|
B. |
LIQUIDITY RATIOS |
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1. |
Current assets to current |
|||||||||||||
liabilities* |
1.3 |
1.4 |
1.2 |
1.4 |
1.3 |
1.3 |
1.3 |
2.3 |
0.9 |
1.3 |
1.3 |
1.1 |
||
2. |
Quick assets to current |
|||||||||||||
liabilities |
60.9 |
66.3 |
59.2 |
55.3 |
52.3 |
53.2 |
43.2 |
41.8 |
39.4 |
76.0 |
91.5 |
74.4 |
||
3. |
Current assets to total |
|||||||||||||
net assets |
57.1 |
56.7 |
55.4 |
47.5 |
44.3 |
40.3 |
45.3 |
70.3 |
30.0 |
24.4 |
30.0 |
24.3 |
||
4. |
Sundry creditors to |
|||||||||||||
current assets |
33.8 |
30.1 |
32.3 |
34.5 |
35.3 |
32.8 |
28.2 |
17.1 |
42.3 |
24.5 |
24.0 |
32.0 |
||
5. |
Sundry creditors to |
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net working capital |
143.3 |
111.9 |
191.5 |
128.8 |
156.5 |
148.9 |
138.0 |
30.6 |
$$ |
114.7 |
93.0 |
400.3 |
||
C. |
ASSETS UTILIZATION |
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AND TURNOVER RATIOS |
||||||||||||||
1. |
Sales to total net assets |
105.0 |
113.6 |
104.0 |
104.0 |
94.1 |
79.3 |
38.3 |
33.0 |
22.1 |
43.8 |
44.2 |
42.9 |
|
2. |
Sales to gross fixed assets |
179.7 |
188.8 |
159.6 |
134.4 |
117.3 |
90.4 |
71.6 |
115.0 |
31.4 |
56.0 |
56.6 |
56.4 |
|
3. |
Inventories to sales |
17.8 |
14.7 |
14.2 |
18.6 |
18.7 |
19.2 |
41.8 |
39.0 |
48.6 |
9.2 |
11.3 |
8.8 |
|
4. |
Sundry debtors to sales |
20.3 |
19.3 |
19.4 |
15.4 |
15.6 |
17.5 |
32.5 |
27.9 |
21.4 |
19.2 |
24.6 |
23.1 |
|
5. |
Exports to sales |
6.9 |
6.9 |
7.7 |
3.9 |
4.1 |
3.4 |
2.7 |
9.1 |
12.6 |
- |
- |
- |
|
6. |
Gross value added to |
|||||||||||||
gross fixed assets |
32.9 |
33.0 |
22.8 |
33.7 |
24.4 |
16.6 |
22.5 |
27.8 |
9.1 |
17.1 |
15.0 |
15.8 |
||
7. |
Raw material consumed to |
|||||||||||||
value of production |
64.4 |
65.0 |
61.2 |
37.8 |
37.7 |
37.5 |
9.2 |
20.3 |
16.0 |
34.4 |
32.6 |
17.7 |
||
D. |
PROFITABILITY RATIOS |
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1. |
Gross profits to total net assets |
8.8 |
8.7 |
3.2 |
14.8 |
7.9 |
4.3 |
5.3 |
2.5 |
2.3 |
9.6 |
7.6 |
8.0 |
|
2. |
Gross profits to sales |
8.4 |
7.7 |
3.1 |
14.3 |
8.4 |
5.4 |
13.8 |
7.6 |
10.5 |
21.9 |
17.1 |
18.6 |
|
3. |
Profits after tax to net worth |
7.6 |
6.0 |
- 11.0 |
21.7 |
7.4 |
0.5 |
9.4 |
6.0 |
2.7 |
11.1 |
6.9 |
6.6 |
|
4. |
Tax provision to profits before tax |
22.6 |
36.4 |
- 41.6 |
14.6 |
23.1 |
70.5 |
13.5 |
28.3 |
26.9 |
18.0 |
27.1 |
30.8 |
|
5. |
Profits retained to profits after tax |
71.0 |
63.3 |
118.6 |
88.3 |
72.1 |
-127.9 |
63.6 |
48.6 |
85.7 |
80.9 |
69.5 |
70.2 |
|
6. |
Dividends to net worth |
2.2 |
2.2 |
2.1 |
2.5 |
2.1 |
1.0 |
3.4 |
3.1 |
0.4 |
2.1 |
2.1 |
2.0 |
|
7. |
Dividends to ordinary Paid-up |
|||||||||||||
|
|
capital |
20.4 |
18.9 |
15.8 |
10.0 |
11.1 |
5.8 |
12.8 |
12.3 |
1.6 |
29.5 |
30.9 |
29.6 |
|
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|
(Per cent) |
|
Trading |
Shipping |
Diversified |
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|
(21) |
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|
(7) |
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|
(9) |
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|
ITEM |
95-96 |
96-97 |
97-98 |
95-96 |
96-97 |
97-98 |
95-96 |
96-97 |
97-98 |
|
|
|
1
|
62 |
63 |
64 |
65 |
66 |
67 |
68 |
69 |
70 |
A. |
CAPITAL STRUCTURE RATIOS |
||||||||||
1. |
Net fixed assets to total net |
||||||||||
assets |
11.8 |
16.2 |
14.9 |
63.2 |
66.8 |
68.8 |
51.4 |
53.1 |
52.5 |
||
2. |
Net worth to total net assets |
25.4 |
30.0 |
27.1 |
44.2 |
43.0 |
42.4 |
43.4 |
44.0 |
42.8 |
|
3. |
Debt to equity |
18.4 |
23.0 |
29.6 |
84.9 |
83.6 |
88.2 |
67.2 |
60.6 |
55.9 |
|
4. |
Debt-equity (adj. for revaluation |
||||||||||
reserves) |
18.8 |
23.0 |
29.5 |
84.9 |
83.6 |
88.2 |
67.1 |
61.5 |
55.8 |
||
5. |
Short term bank borrowing to |
||||||||||
inventory |
37.3 |
41.4 |
54.5 |
46.1 |
38.8 |
49.1 |
57.6 |
88.2 |
86.1 |
||
6. |
Outside liabilities to net worth |
293.1 |
233.5 |
269.7 |
126.1 |
132.5 |
135.8 |
130.3 |
127.2 |
133.6 |
|
B. |
LIQUIDITY RATIOS |
||||||||||
1. |
Current assets to current |
||||||||||
liabilities* |
1.2 |
1.3 |
1.3 |
1.8 |
1.5 |
1.4 |
1.5 |
1.5 |
1.3 |
||
2. |
Quick assets to current |
||||||||||
liabilities |
57.9 |
57.2 |
66.4 |
81.0 |
57.5 |
66.2 |
51.5 |
50.0 |
46.0 |
||
3. |
Current assets to total |
||||||||||
net assets |
85.1 |
79.5 |
81.6 |
33.1 |
31.0 |
28.0 |
42.4 |
42.8 |
43.6 |
||
4. |
Sundry creditors to |
||||||||||
current assets |
51.9 |
43.6 |
43.0 |
21.9 |
19.2 |
19.6 |
20.4 |
18.8 |
17.7 |
||
5. |
Sundry creditors to |
||||||||||
net working capital |
289.1 |
211.4 |
209.4 |
48.4 |
58.7 |
69.2 |
57.7 |
59.4 |
73.3 |
||
C. |
ASSETS UTILIZATION |
||||||||||
AND TURNOVER RATIOS |
|||||||||||
1. |
Sales to total net assets |
226.2 |
254.6 |
243.9 |
29.3 |
32.6 |
35.5 |
64.8 |
65.9 |
69.2 |
|
2. |
Sales to gross fixed assets |
1326.9 |
1103.2 |
1125.8 |
33.1 |
34.8 |
35.8 |
90.9 |
88.7 |
90.1 |
|
3. |
Inventories to sales |
15.7 |
12.3 |
11.4 |
22.3 |
17.9 |
15.7 |
24.9 |
23.0 |
23.2 |
|
4. |
Sundry debtors to sales |
13.3 |
11.0 |
14.4 |
24.6 |
17.5 |
16.5 |
15.4 |
15.6 |
15.7 |
|
5. |
Exports to sales |
2.4 |
1.6 |
1.1 |
- |
- |
- |
10.9 |
10.7 |
8.0 |
|
6. |
Gross value added to |
||||||||||
gross fixed assets |
106.6 |
88.6 |
100.5 |
17.5 |
18.3 |
19.7 |
22.6 |
21.1 |
19.9 |
||
7. |
Raw material consumed to |
||||||||||
value of production |
85.3 |
84.1 |
82.8 |
- |
- |
- |
44.6 |
42.5 |
43.2 |
||
D. |
PROFITABILITY RATIOS |
||||||||||
1. |
Gross profits to total net assets |
9.2 |
9.2 |
8.2 |
9.3 |
9.1 |
8.9 |
10.4 |
8.7 |
5.6 |
|
2. |
Gross profits to sales |
4.1 |
3.6 |
3.4 |
31.7 |
27.8 |
25.1 |
16.1 |
13.1 |
8.2 |
|
3. |
Profits after tax to net worth |
18.3 |
6.9 |
12.0 |
16.2 |
12.4 |
11.3 |
13.8 |
7.9 |
3.3 |
|
4. |
Tax provision to profits before tax |
35.1 |
59.1 |
35.6 |
10.2 |
19.5 |
20.9 |
13.8 |
17.1 |
20.2 |
|
5. |
Profits retained to profits after tax |
70.5 |
23.3 |
57.2 |
63.6 |
40.8 |
24.4 |
81.3 |
74.4 |
60.1 |
|
6. |
Dividends to net worth |
5.4 |
5.3 |
5.2 |
5.9 |
7.3 |
8.6 |
2.6 |
2.0 |
1.3 |
|
7. |
Dividends to ordinary Paid-up |
||||||||||
|
|
capital |
30.6 |
24.0 |
23.4 |
19.5 |
25.3 |
30.8 |
38.7 |
32.3 |
14.7 |
* |
Item B.1 is the actual ratio of current assets to current liabilities. |
** |
Denominator nil or negligible. |
$$ |
Denominator negative. |
- |
Nil or negligible. |
APPENDIX |
Explanatory Notes to Various Tables |
1. |
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. |
2. |
Due to rounding off of figures, the constituent items may not add up to the totals. |
3. |
Sales are net of 'rebates and discounts' and 'excise duty and cess'. |
4. |
Manufacturing expenses comprise (a) raw materials, components, etc. consumed, (b) stores and spares consumed, (c) power and fuel and (d) other manufacturing expenses. |
5. |
Remuneration to employees comprises (a) salaries, wages and bonus, (b) provident fund and (c) employees' welfare expenses. |
6. |
Non-operating surplus/deficit comprises (a) profit/loss on account of (i) sale of fixed assets, investments, etc., and (ii) revaluation/devaluation of foreign currencies, (b) provisions no longer required written back, (c) insurance claims realised and (d) income or expenditure relating to the previous years and such other items of non-current nature. |
7. |
Gross profits are net of depreciation provision but before interest. |
8. |
Gross saving is measured as the sum of retained profits and depreciation provision. |
9. |
Gross value added comprises (a) net value added and (b) depreciation provision. |
10. |
Net value added comprises (a) salaries, wages and bonus, (b) provident fund, (c) employees' welfare expenses, (d) managerial remuneration, (e) rent paid net of rent received, (f) interest paid net of interest received, (g) tax provision, (h) dividends paid net of dividends received and (i) retained profits net of non-operating surplus/ deficit. |
11. |
Debt comprises (a) all borrowings from Govt. and semi-Govt. bodies, financial institutions other than banks and 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. |
12. |
Equity or Net worth comprises (a) paid-up capital, (b) forfeited shares and (c) all reserves and surplus. |
13. |
Current assets comprise (a) inventories, (b) loans and advances and other debtor balances, (c) book value of quoted investments, (d) cash and bank balances and (e) advance of income-tax in excess of tax provision. |
14. |
Current liabilities comprise (a) short term borrowings from banks, (b) unsecured loans and other short term borrowings from companies and others, (c) trade dues and other current liabilities and (d) tax provision in excess of advance of income-tax and other current provisions. |
15. |
Quick assets comprise (a) sundry debtors, (b) book value of quoted investments and (c) cash and bank balances. |
16. |
Capital reserves include profits on sale of investments and fixed assets. |
17. |
Other reserves include profits retained in the form of various specific reserves and profit/loss carried to balance sheet. |
18. |
Debentures include privately placed debentures with financial institutions. |