Finances of Private Limited Companies, 1998-99 (Part 5 of 5)

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சொத்து வெளியீட்டாளர்

வெளியிடப்பட்ட தேதி ஜனவரி 12, 2001

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Finances of Private Limited Companies, 1998-99 (Part 5 of 5)

Statement 8: Selected Financial Ratios of the Selected 890 Private Limited Companies - Industry-Wise, 1996-97 to 1998-99

							(Per cent)
		Paper and paper products			Glass and glassware
SELECTED FINANCIAL RATIO		(23)			(6)
		1996-97	1997-98	1998-99	1996-97	1997-98	1998-99
1		50	51	52	53	54	55
A. Capital structure ratios
1.	Net fixed assets to total net assets	42.4	42.3	40.9	43.5	45.2	41.7
2.	Net worth to total net assets	22.9	22.6	23.2	37.4	38.2	35.6
3.	Debt to equity	66.2	74.9	50.9	44.7	20.5	60.2
4.	Debt to equity	66.2	74.9	50.9	44.7	20.5	60.2
	(equity adjusted for revaluation reserve)
5.	Short term bank borrowings to inventories	137.4	108.1	114.8	69.3	103.1	66.4
6.	Total outside liabilities to net worth	336.8	343.4	330.2	167.2	161.5	181.1

B. Liquidity ratios
7.	Current assets to current liabilities *	0.9	0.9	0.9	1.2	1.0	1.3
8.	Quick assets to current liabilities	45.5	45.2	44.8	61.4	46.7	64.5
9.	Current assets to total net assets	56.0	55.7	57.1	55.5	53.4	56.8
10.	Sundry creditors to current assets	43.5	43.1	45.1	33.1	33.4	28.6
11.	Sundry creditors to net working capital	#	#	#	189.9	#	117.4

C. Assets utilization and turnover ratios
12.	Sales to total net assets	124.6	122.7	124.8	84.3	97.0	87.3
13.	Sales to gross fixed assets	174.4	174.3	172.7	123.7	133.9	124.1
14.	Inventories to sales	11.1	12.6	13.2	17.5	18.8	22.8
15.	Sundry debtors to sales	20.1	19.4	19.8	15.1	10.8	14.9
16.	Exports to sales	$	0.1	0.1	24.9	36.5	24.4
17.	Gross value added to gross fixed assets	32.0	32.4	33.9	32.1	40.4	41.9
18.	Raw materials consumed to value of production	54.7	53.6	52.0	49.1	38.4	40.0

D. Sources and uses of funds ratios @
19.	Gross fixed assets formation to		51.4	55.2		77.2	31.9
	total uses of funds
20.	Gross capital formation to		73.8	75.1		119.0	57.0
	total uses of funds
21.	External sources of funds to		77.6	29.7		36.0	58.5
	total sources of funds
22.	Increase in bank borrowings to		45.3	76.2		130.3	103.1
	total external sources
23.	Gross saving to gross capital formation		41.1	94.4		56.5	86.8

E. Profitability and profit allocation ratios
24.	Gross profits to total net assets	8.8	8.3	9.2	6.6	9.8	8.9
25.	Gross profits to sales	7.0	6.8	7.4	7.9	10.1	10.2
26.	Profits after tax to net worth	16.0	3.5	9.2	4.1	7.8	2.4
27.	Tax provision to profits before tax	23.7	57.2	36.8	35.3	25.6	56.7
28.	Profits retained to profits after tax	85.3	28.5	71.8	82.2	91.2	72.4
29.	Dividends to net worth	2.4	2.5	2.6	0.7	0.7	0.7
30.	Ordinary dividends to ordinary paid-up capital	6.1	5.9	6.5	2.2	2.2	2.2

						(Per cent)
	Printing and publishing			Construction
SELECTED FINANCIAL RATIO	(15)			(10)
	1996-97	1997-98	1998-99	1996-97	1997-98	1998-99
1	56	57	58	59	60	61
A. Capital structure ratios
1. Net fixed assets to total net assets	39.7	44.5	44.0	12.4	14.4	15.0
2. Net worth to total net assets	28.7	25.0	16.6	14.0	17.7	19.8
3. Debt to equity	41.0	43.9	54.6	10.4	1.1	2.4
4. Debt to equity	54.2	49.0	90.2	11.2	1.2	2.5
(equity adjusted for revaluation reserve)
5. Short term bank borrowings to inventories	99.1	148.1	264.9	3.2	7.2	8.5
6. Total outside liabilities to net worth	248.5	300.5	#	#	#	#

B. Liquidity ratios
7. Current assets to current liabilities *	0.8	0.9	0.7	1.0	1.0	1.0
8. Quick assets to current liabilities	35.6	47.6	43.0	16.0	18.4	26.0
9. Current assets to total net assets	48.7	54.1	54.8	86.6	84.3	83.1
10. Sundry creditors to current assets	23.0	26.6	26.6	8.7	12.4	17.4
11. Sundry creditors to net working capital	#	#	#	#	#	#

C. Assets utilization and turnover ratios
12. Sales to total net assets	72.0	83.9	80.9	26.5	40.8	51.4
13. Sales to gross fixed assets	102.5	104.6	92.3	130.7	163.6	191.8
14. Inventories to sales	14.6	9.9	10.2	225.0	130.2	79.6
15. Sundry debtors to sales	19.7	26.8	29.4	24.0	16.1	21.6
16. Exports to sales	$	$	$	$	$	$
17. Gross value added to gross fixed assets	21.1	13.1	17.4	69.0	55.2	39.2
18. Raw materials consumed to value of production	42.8	41.7	46.0	29.6	24.4	24.8

D. Sources and uses of funds ratios @
19. Gross fixed assets formation to		186.8	&		#	#
total uses of funds
20. Gross capital formation to		148.8	&		&	&
total uses of funds
21. External sources of funds to		157.1	#		&	&
total sources of funds
22. Increase in bank borrowings to		19.0	105.7		#	&
total external sources
23. Gross saving to gross capital formation		$	&		#	#

E. Profitability and profit allocation ratios
24. Gross profits to total net assets	0.4	$	$	2.1	3.5	3.2
25. Gross profits to sales	0.6	$	$	8.0	8.5	6.2
26. Profits after tax to net worth	$	$	$	4.3	7.3	10.5
27. Tax provision to profits before tax	#	#	#	26.0	27.8	11.8
28. Profits retained to profits after tax	&	&	&	61.0	69.9	80.9
29. Dividends to net worth	1.0	0.5	2.0	1.7	2.2	2.0
30. Ordinary dividends to ordinary paid-up capital	1.8	0.6	1.3	3.8	5.0	5.0

							(Per cent)
		Trading			Land and estate
SELECTED FINANCIAL RATIO		(92)			(6)
		1996-97	1997-98	1998-99	1996-97	1997-98	1998-99
1		62	63	64	65	66	67
A. Capital structure ratios
1.	Net fixed assets to total net assets	18.8	16.4	16.3	90.6	89.4	88.3
2.	Net worth to total net assets	34.8	33.9	38.6	96.5	96.1	95.5
3.	Debt to equity	14.0	8.9	7.8	0.4	0.7	0.6
4.	Debt to equity	15.0	9.5	8.2	0.4	0.7	0.6
	(equity adjusted for revaluation reserve)
5.	Short term bank borrowings to inventories	45.8	43.8	51.3	$	0.6	3.0
6.	Total outside liabilities to net worth	187.2	195.3	159.0	3.7	4.1	4.7

B. Liquidity ratios
7.	Current assets to current liabilities *	1.2	1.2	1.3	2.7	2.9	2.7
8.	Quick assets to current liabilities	45.5	48.7	59.1	50.2	47.4	45.7
9.	Current assets to total net assets	72.6	74.5	74.7	8.5	9.6	10.6
10.	Sundry creditors to current assets	24.7	30.7	26.9	7.4	3.0	7.1
11.	Sundry creditors to net working capital	142.5	197.4	121.3	11.7	4.5	11.3

C. Assets utilization and turnover ratios
12.	Sales to total net assets	124.4	120.9	126.4	1.9	2.1	3.0
13.	Sales to gross fixed assets	#	#	#	1.8	1.9	2.6
14.	Inventories to sales	11.6	12.2	10.1	21.8	27.4	20.8
15.	Sundry debtors to sales	13.9	16.6	16.2	3.9	4.9	4.3
16.	Exports to sales	7.4	6.4	5.2	$	$	$
17.	Gross value added to gross fixed assets	55.9	61.1	62.3	0.8	1.3	1.5
18.	Raw materials consumed to value of production	74.8	72.1	67.7	18.1	7.9	10.3

D. Sources and uses of funds ratios @
19.	Gross fixed assets formation to		13.8	41.1		5.1	24.4
	total uses of funds
20.	Gross capital formation to		28.6	0.5		18.3	28.2
	total uses of funds
21.	External sources of funds to		67.7	$		16.0	55.1
	total sources of funds
22.	Increase in bank borrowings to		1.2	#		2.2	3.3
	total external sources
23.	Gross saving to gross capital formation		132.2	#		169.1	218.0

E. Profitability and profit allocation ratios
24.	Gross profits to total net assets	9.2	10.2	11.0	$	$	$
25.	Gross profits to sales	7.4	8.4	8.7	$	$	$
26.	Profits after tax to net worth	9.8	14.3	12.7	$	$	$
27.	Tax provision to profits before tax	44.5	33.6	35.0	#	#	#
28.	Profits retained to profits after tax	63.6	83.7	83.1	&	&	&
29.	Dividends to net worth	3.6	2.3	2.1	0.3	0.4	0.6
30.	Ordinary dividends to ordinary paid-up capital	9.0	6.1	6.1	20.8	23.3	31.5

						(Per cent)
	Road transport			Shipping
SELECTED FINANCIAL RATIO	(9)			(4)
	1996-97	1997-98	1998-99	1996-97	1997-98	1998-99
1	68	69	70	71	72	73
A. Capital structure ratios
1. Net fixed assets to total net assets	35.7	33.4	33.5	10.9	29.9	36.6
2. Net worth to total net assets	36.7	41.3	46.2	19.5	29.4	34.5
3. Debt to equity	44.2	14.1	14.7	0.9	$	$
4. Debt to equity	44.2	14.1	14.7	0.9	$	$
(equity adjusted for revaluation reserve)
5. Short term bank borrowings to inventories	#	#	#	1.5	6.7	14.5
6. Total outside liabilities to net worth	172.3	141.9	116.7	#	240.3	189.5

B. Liquidity ratios
7. Current assets to current liabilities *	1.4	1.2	1.4	1.0	1.0	1.0
8. Quick assets to current liabilities	104.4	97.5	107.0	43.0	39.0	28.6
9. Current assets to total net assets	63.6	66.0	64.8	78.9	69.5	62.9
10. Sundry creditors to current assets	33.9	25.3	24.0	63.4	50.2	74.1
11. Sundry creditors to net working capital	130.3	126.8	87.6	#	#	#

C. Assets utilization and turnover ratios
12. Sales to total net assets	171.2	183.3	184.1	49.4	64.0	79.3
13. Sales to gross fixed assets	239.5	259.9	258.2	361.5	182.2	166.7
14. Inventories to sales	1.2	1.3	1.2	42.2	19.7	15.8
15. Sundry debtors to sales	24.1	20.0	19.4	38.8	9.2	9.1
16. Exports to sales	$	$	$	$	$	$
17. Gross value added to gross fixed assets	73.7	75.0	75.7	40.3	8.9	12.6
18. Raw materials consumed to value of production	1.4	1.4	1.3	54.2	68.5	75.2

D. Sources and uses of funds ratios @
19. Gross fixed assets formation to		41.5	54.2		#	#
total uses of funds
20. Gross capital formation to		44.8	55.1		#	#
total uses of funds
21. External sources of funds to		7.4	29.4		&	&
total sources of funds
22. Increase in bank borrowings to		#	$		#	#
total external sources
23. Gross saving to gross capital formation		#	152.4		170.3	123.7

E. Profitability and profit allocation ratios
24. Gross profits to total net assets	16.0	17.1	19.1	6.0	3.6	2.6
25. Gross profits to sales	9.4	9.3	10.4	12.0	5.6	3.3
26. Profits after tax to net worth	20.9	23.0	22.8	39.6	16.7	1.4
27. Tax provision to profits before tax	39.7	36.0	36.1	24.5	17.0	49.7
28. Profits retained to profits after tax	86.1	77.1	79.4	98.7	96.9	66.1
29. Dividends to net worth	2.9	5.3	4.7	0.5	0.5	0.5
30. Ordinary dividends to ordinary paid-up capital	6.1	12.6	12.5	1.5	1.8	1.6

				(Per cent)
		Hotels, restaurants and eating houses
SELECTED FINANCIAL RATIO		(35)
		1996-97	1997-98	1998-99
1		74	75	76
A. Capital structure ratios
1.	Net fixed assets to total net assets	59.9	57.9	60.4
2.	Net worth to total net assets	47.5	45.9	44.9
3.	Debt to equity	39.5	44.7	49.9
4.	Debt to equity	46.0	50.7	55.9
	(equity adjusted for revaluation reserve)
5.	Short term bank borrowings to inventories	92.6	137.6	156.3
6.	Total outside liabilities to net worth	110.4	117.9	122.7

B. Liquidity ratios
7.	Current assets to current liabilities *	1.2	1.0	0.9
8.	Quick assets to current liabilities	23.6	29.2	23.7
9.	Current assets to total net assets	39.1	34.7	30.3
10.	Sundry creditors to current assets	16.2	19.8	24.4
11.	Sundry creditors to net working capital	115.1	519.6	#

C. Assets utilization and turnover ratios
12.	Sales to total net assets	55.4	51.1	48.4
13.	Sales to gross fixed assets	67.0	62.0	56.1
14.	Inventories to sales	6.7	7.1	5.6
15.	Sundry debtors to sales	8.1	7.6	8.3
16.	Exports to sales	$	$	$
17.	Gross value added to gross fixed assets	32.9	25.3	22.7
18.	Raw materials consumed to value of production	17.8	18.0	18.5

D. Sources and uses of funds ratios @
19.	Gross fixed assets formation to		58.5	88.0
	total uses of funds
20.	Gross capital formation to		60.8	83.9
	total uses of funds
21.	External sources of funds to		60.3	50.6
	total sources of funds
22.	Increase in bank borrowings to		17.8	$
	total external sources
23.	Gross saving to gross capital formation		75.3	57.9

E. Profitability and profit allocation ratios
24.	Gross profits to total net assets	16.8	10.5	9.6
25.	Gross profits to sales	30.2	20.6	19.9
26.	Profits after tax to net worth	18.9	10.1	8.6
27.	Tax provision to profits before tax	27.8	23.6	27.1
28.	Profits retained to profits after tax	86.9	71.8	67.8
29.	Dividends to net worth	2.5	2.8	2.8
30.	Ordinary dividends to ordinary paid-up capital	5.8	6.8	7.1

Note : Figures in brackets below the industry name represent the number of companies in the industry.
@	Adjusted for revaluation, etc.
*	Item B.7 is the actual ratio of current assets to current liabilities.
-	Nil or negligible
$	Numerator is negative or nil or negligible.
#	Denominator is negative or nil or negligible.
&	Both numerator and denominator are negative or nil or negligible.
@@	Industry-groups viz., 'Motor vehicles', 'Electrical machinery,apparatus, appliances,etc.' 'Machinery other than transport and electricals', 'Foundries and engineering workshops' and 'Ferrous/non-ferrous metal products' are subgroups of 'Engineering'.
++	Industry-groups viz., 'Basic industrial chemicals' and 'Medicines and pharmaceutical preparations' are sub-groups of 'Chemicals'.

Appendix

Explanatory Notes to Various Statements

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

Sales are net of rebates and discounts and excise duty and cess.

Manufacturing expenses comprise (a) raw materials, components, etc. consumed, (b) stores and spares consumed, (c) power and fuel and (d) other manufacturing expenses.

Raw materials, components, etc., consumed includes purchases of traded goods in the case of trading companies and consumption of stores and provisions for hotels, restaurants and eating houses.

Other manufacturing expenses include expenses like construction expenses of construction companies, operating expenses of shipping companies, etc.

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

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.

Gross profits are net of depreciation provision but before interest.

Gross saving is measured as the sum of retained profits and depreciation provision.

Gross value added comprises (a) net value added and (b) depreciation provision.

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.

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.

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

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.

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.