Finances of Large Public Limited Companies, 2001-02 - Statements (Part 6 of 6)

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Published on May 19, 2003

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Finances of Large Public Limited Companies, 2001-02 - Statements (Part 6 of 6)

Statement 11 : Selected Financial Ratios of the Selected 990 Large Public Limited Companies - Selected Industries, 1999-00 to 2001-02

											(Per cent)

		Item	Pharmaceuticals and Medicines			Rubber and Plastic products			Plastic products			Cement and Cement products
			(52)			(44)			(33)			(26)

			1999-00	2000-01	2001-02	1999-00	2000-01	2001-02	1999-00	2000-01	2001-02	1999-00	2000-01	2001-02

		1	38	39	40	41	42	43	44	45	46	47	48	49

Selected Financial Ratios
A.	Capital structure ratios
	1.	Net fixed assets to total net assets	32.8	31.7	30.6	51.8	49.8	49.8	57.3	53.1	54.3	63.9	61.3	63.4
	2.	Net worth to total net assets	53.1	54.6	54.5	40.3	38.9	35.7	41.1	41.3	39.1	28.4	27.2	24.9
	3.	Debt to equity	20.3	19.6	17.7	56.7	61.0	65.0	63.7	61.0	62.1	133.0	138.4	159.9
	4.	Debt to equity (equity adjusted for
		revaluationreserve)	20.6	19.9	17.9	57.7	61.9	66.0	65.1	62.0	63.1	152.1	164.2	194.1
	5.	Short term bank borrowings to
		inventories	57.3	47.3	36.1	93.3	73.2	110.0	107.1	71.7	126.4	97.5	122.2	100.9
	6.	Total outside liabilities to net worth	88.4	83.0	83.4	148.0	157.3	180.3	143.4	142.3	155.6	252.3	267.3	301.6

B.	Liquidity ratios
	7.	Current assets to current liabilities *	1.6	1.7	1.6	1.2	1.2	1.1	1.1	1.3	1.2	0.9	0.9	0.8
	8.	Quick assets to current liabilities	74.3	74.2	71.6	62.9	63.6	67.6	59.7	65.3	71.0	33.6	31.5	28.2
	9.	Current assets to total net assets	56.9	57.8	56.7	44.1	45.9	46.9	37.6	41.9	42.8	31.3	29.9	27.1
	10.	Sundry creditors to current assets	19.5	20.9	21.5	22.6	21.7	21.8	18.1	17.4	15.0	23.5	22.6	34.6
	11.	Sundry creditors to net working capital	52.7	51.6	57.9	133.7	114.4	171.7	140.7	86.5	102.9	#	#	#

C.	Assets utilization and turnover ratios
	12.	Sales to total net assets	87.9	88.3	91.9	77.8	77.9	78.0	64.6	66.7	64.3	62.5	61.1	64.1
	13.	Sales to gross fixed assets	183.9	185.6	193.8	106.3	106.2	102.0	83.3	88.4	80.1	63.4	63.4	63.6
	14.	Inventories to sales	22.5	22.6	22.5	18.3	18.9	15.5	18.4	19.5	16.0	17.7	17.3	15.6
	15.	Sundry debtors to sales	22.0	22.3	22.0	22.8	20.2	22.5	21.6	18.8	20.5	10.7	10.3	8.8
	16.	Exports to sales	22.7	23.2	28.3	7.0	7.9	9.9	5.2	5.2	5.5	2.2	2.1	1.9
	17.	Gross value added to gross fixed assets	50.9	51.7	53.1	26.2	21.6	20.5	23.5	21.2	18.7	13.5	14.4	15.1
	18.	Raw materials consumed to
		value of production	45.2	44.6	43.8	55.4	59.7	59.6	51.5	57.5	56.3	20.5	17.9	21.5

D.	Profitability and profit allocation ratios
	19.	Gross profits to total net assets	13.5	13.7	14.2	10.2	6.7	6.3	10.5	8.5	7.4	4.4	5.7	7.0
	20.	Gross profits to sales	15.3	15.5	15.4	13.1	8.7	8.1	16.3	12.8	11.5	7.0	9.3	11.0
	21.	Profits after tax to net worth	16.6	16.5	15.0	9.9	1.7	-	9.7	5.1	1.6	-	4.3	6.0
	22.	Tax provision to profits before tax	22.9	25.0	26.0	21.2	55.3	107.6	16.2	28.5	55.0	#	32.0	25.9
	23.	Profits retained to profits after tax	61.1	62.3	62.7	63.0	-	&	62.0	32.9	-	&	25.5	30.8
	24.	Dividends to net worth	6.5	6.2	5.6	3.7	3.1	2.9	3.7	3.4	3.2	2.7	3.2	4.2
	25.	Ordinary dividends to
		ordinary paid-up capital	45.9	47.7	44.9	13.6	11.7	10.7	11.5	11.7	10.9	9.5	11.4	14.7

												(Per cent)

		Item	Iron and Steel			Fabricated Metal products except Machinery and equipments			Machinery and Machine tools			Electrical Machinery and apparatus
			(33)			(43)			(75)			(42)

			1999-00	2000-01	2001-02	1999-00	2000-01	2001-02	1999-00	2000-01	2001-02	1999-00	2000-01	2001-02

		1	50	51	52	53	54	55	56	57	58	59	60	61

Selected Financial Ratios
A.	Capital structure ratios
	1.	Net fixed assets to total net assets	69.8	68.9	63.6	48.8	51.8	51.4	33.5	32.0	32.0	32.5	34.1	32.6
	2.	Net worth to total net assets	21.0	21.3	18.6	37.0	31.8	29.0	36.3	36.3	36.5	36.0	37.0	38.2
	3.	Debt to equity	203.8	218.7	264.4	69.6	86.7	90.1	49.8	46.4	42.2	55.1	46.7	47.8
	4.	Debt to equity (equity adjusted for
		revaluationreserve)	208.1	222.6	268.9	73.2	91.8	95.1	52.9	49.1	44.6	58.3	50.1	50.7
	5.	Short term bank borrowings to
		inventories	158.5	142.5	132.3	91.4	102.0	100.2	58.0	57.8	64.4	74.6	94.3	71.1
	6.	Total outside liabilities to net worth	376.1	368.6	436.2	170.4	214.1	245.2	175.5	175.7	173.6	177.4	170.3	161.5

B.	Liquidity ratios
	7.	Current assets to current liabilities *	0.7	0.7	0.7	1.3	1.1	1.0	1.4	1.4	1.3	1.4	1.3	1.3
	8.	Quick assets to current liabilities	29.8	28.7	28.4	57.9	53.7	49.1	70.2	68.5	67.0	78.0	73.2	78.0
	9.	Current assets to total net assets	26.6	23.3	22.3	47.2	45.4	45.4	60.8	62.0	59.6	62.2	58.8	58.2
	10.	Sundry creditors to current assets	38.9	39.3	41.8	27.6	28.9	28.5	29.4	28.0	28.9	29.5	31.7	32.3
	11.	Sundry creditors to net working capital	#	#	#	130.6	254.2	#	109.0	107.5	136.6	100.5	139.4	124.8

C.	Assets utilization and turnover ratios
	12.	Sales to total net assets	37.1	38.7	41.7	73.7	76.6	73.6	88.8	87.8	91.1	86.1	87.6	90.6
	13.	Sales to gross fixed assets	45.8	47.6	53.4	107.1	100.7	93.8	158.6	152.7	147.1	168.8	158.8	161.8
	14.	Inventories to sales	19.9	17.4	17.1	21.0	21.4	22.1	23.7	23.6	20.6	22.4	19.7	18.3
	15.	Sundry debtors to sales	23.0	19.8	18.2	25.3	25.7	26.9	28.7	28.6	27.8	34.3	32.7	30.5
	16.	Exports to sales	9.2	9.8	8.0	12.4	11.7	13.5	9.0	10.3	10.9	8.6	9.5	15.1
	17.	Gross value added to gross fixed assets	8.1	9.2	10.5	22.8	18.3	18.9	38.5	32.0	31.6	34.3	30.1	32.0
	18.	Raw materials consumed to
		value of production	53.2	52.5	51.7	57.8	59.2	58.3	54.8	54.0	54.2	61.0	61.1	60.5

D.	Profitability and profit allocation ratios
	19.	Gross profits to total net assets	3.1	3.7	3.5	7.3	5.5	5.6	8.4	4.0	4.8	5.3	4.6	6.4
	20.	Gross profits to sales	8.4	9.6	8.4	9.9	7.2	7.6	9.5	4.6	5.2	6.2	5.2	7.0
	21.	Profits after tax to net worth	-	-	-	5.5	-	-	10.6	-	-	0.2	3.0	8.2
	22.	Tax provision to profits before tax	#	152.4	#	24.9	168.9	120.5	31.9	143.1	121.0	94.8	54.4	28.0
	23.	Profits retained to profits after tax	&	&	&	62.7	&	&	61.0	&	&	-	9.4	70.2
	24.	Dividends to net worth	1.2	1.2	1.5	2.0	2.1	1.9	4.1	3.7	3.6	2.8	2.7	2.4
	25.	Ordinary dividends to
		ordinary paid-up capital	1.2	1.1	1.4	11.3	9.0	7.4	14.9	11.9	10.5	10.0	9.8	8.3

											(Per cent)

		Item	Radio, Television, Communication Equipments and apparatus			Motor Vehicles and other Transport equipments			Diversified			Electricity Generation and supply
			(15)			(48)			(6)			(9)

			1999-00	2000-01	2001-02	1999-00	2000-01	2001-02	1999-00	2000-01	2001-02	1999-00	2000-01	2001-02

		1	62	63	64	65	66	67	68	69	70	71	72	73

Selected Financial Ratios
A.	Capital structure ratios
	1.	Net fixed assets to total net assets	27.5	28.7	27.8	33.6	36.4	35.6	36.9	35.4	33.3	70.7	65.0	62.6
	2.	Net worth to total net assets	40.5	39.6	39.4	46.6	45.6	44.1	29.4	29.4	29.7	42.3	42.9	45.0
	3.	Debt to equity	38.1	41.4	30.7	37.4	38.0	41.6	66.6	68.1	51.6	91.2	74.4	66.2
	4.	Debt to equity (equity adjusted for
		revaluationreserve)	38.7	42.0	31.1	37.9	38.5	42.2	67.7	69.1	52.2	91.2	74.4	66.2
	5.	Short term bank borrowings to
		inventories	72.3	55.3	62.0	49.7	47.9	51.4	24.4	20.7	25.5	92.9	104.3	119.3
	6.	Total outside liabilities to net worth	146.7	152.7	153.9	114.7	119.3	126.7	239.6	239.9	236.7	136.4	133.3	122.2

B.	Liquidity ratios
	7.	Current assets to current liabilities *	1.5	1.6	1.4	1.7	1.4	1.3	1.1	1.2	1.1	1.2	1.2	1.2
	8.	Quick assets to current liabilities	71.6	64.4	69.5	94.3	73.0	68.5	26.6	27.5	26.2	84.3	84.0	75.8
	9.	Current assets to total net assets	67.1	68.2	67.7	59.6	53.6	48.2	57.2	58.5	60.3	23.3	29.1	29.5
	10.	Sundry creditors to current assets	18.4	14.0	15.1	27.7	34.2	37.6	17.4	17.8	18.9	44.1	45.8	37.9
	11.	Sundry creditors to net working capital	52.8	39.0	52.6	70.0	110.2	168.4	154.7	128.2	208.4	232.4	331.0	249.1

C.	Assets utilization and turnover ratios
	12.	Sales to total net assets	90.9	76.9	87.6	101.6	110.0	106.9	50.8	55.5	59.4	42.8	49.2	56.5
	13.	Sales to gross fixed assets	213.7	168.8	184.5	174.0	168.4	162.0	94.9	103.2	111.2	48.8	57.2	63.1
	14.	Inventories to sales	23.1	31.0	24.2	14.2	14.2	13.0	70.9	65.9	63.7	10.3	8.9	8.5
	15.	Sundry debtors to sales	29.5	31.8	32.0	20.2	18.5	18.0	21.3	20.0	18.8	27.4	35.3	30.1
	16.	Exports to sales	14.7	12.7	8.7	14.1	16.0	14.4	10.7	11.2	11.8	1.6	1.9	2.4
	17.	Gross value added to gross fixed assets	43.2	31.1	41.3	33.1	28.4	31.9	22.9	24.4	25.2	14.7	17.7	18.5
	18.	Raw materials consumed to
		value of production	64.7	64.7	60.1	65.4	66.6	64.3	29.5	24.5	31.2	23.4	23.2	26.0

D.	Profitability and profit allocation ratios
	19.	Gross profits to total net assets	8.7	5.3	6.1	9.1	6.1	9.5	5.2	5.8	5.5	7.9	8.9	9.3
	20.	Gross profits to sales	9.6	7.0	7.0	8.9	5.5	8.9	10.1	10.4	9.3	18.5	18.1	16.5
	21.	Profits after tax to net worth	9.8	6.6	4.2	10.8	5.7	11.3	1.6	7.4	7.4	9.2	9.4	10.2
	22.	Tax provision to profits before tax	27.5	31.0	33.0	29.7	27.5	31.0	38.8	11.4	19.6	23.8	11.1	9.6
	23.	Profits retained to profits after tax	85.9	76.6	47.9	70.2	51.5	64.5	-	53.4	52.4	63.9	73.8	78.9
	24.	Dividends to net worth	1.4	1.5	2.2	3.2	2.8	4.0	3.1	3.4	3.5	3.3	2.5	2.2
	25.	Ordinary dividends to
		ordinary paid-up capital	3.7	4.2	6.0	20.2	15.8	23.1	39.0	44.8	47.4	12.0	10.1	9.0

											(Per cent)

		Item	Construction			Wholesale and Retail Trade			Hotels and Restaurants			Transport, Storage and Communications
			(19)			(24)			(21)			(20)

			1999-00	2000-01	2001-02	1999-00	2000-01	2001-02	1999-00	2000-01	2001-02	1999-00	2000-01	2001-02

		1	74	75	76	77	78	79	80	81	82	83	84	85

Selected Financial Ratios
A.	Capital structure ratios
	1.	Net fixed assets to total net assets	26.1	25.5	25.5	7.2	6.9	6.9	60.4	61.2	63.3	64.7	65.5	70.1
	2.	Net worth to total net assets	26.0	26.2	22.0	39.1	37.7	38.1	59.2	58.3	49.8	35.1	45.7	43.1
	3.	Debt to equity	53.9	58.2	65.1	19.7	24.1	19.0	39.1	38.7	60.4	104.0	58.8	68.0
	4.	Debt to equity (equity adjusted for
		revaluationreserve)	61.8	65.7	72.9	19.7	24.1	19.0	42.6	43.0	67.7	104.2	58.8	68.6
	5.	Short term bank borrowings to
		inventories	28.7	20.4	27.5	104.5	132.0	126.5	237.9	411.2	228.0	77.8	143.7	182.9
	6.	Total outside liabilities to net worth	285.0	282.3	354.7	155.5	165.4	162.8	68.9	71.6	100.9	184.5	119.0	132.1

B.	Liquidity ratios
	7.	Current assets to current liabilities *	1.2	1.2	1.1	1.5	1.6	1.5	1.6	1.3	1.1	0.8	0.9	0.7
	8.	Quick assets to current liabilities	38.7	37.5	37.9	89.9	98.9	93.4	54.2	44.9	34.2	39.8	44.2	51.5
	9.	Current assets to total net assets	71.9	71.8	71.9	82.0	84.8	82.5	27.5	25.2	22.0	21.6	24.6	20.2
	10.	Sundry creditors to current assets	19.9	21.3	24.5	22.3	33.2	37.2	13.8	14.9	15.7	74.2	66.3	89.5
	11.	Sundry creditors to net working capital	118.5	114.8	210.5	63.4	88.9	109.7	36.7	61.4	166.0	#	#	#

C.	Assets utilization and turnover ratios
	12.	Sales to total net assets	86.4	73.4	65.9	171.5	160.3	153.1	30.0	30.2	23.9	38.6	31.6	44.1
	13.	Sales to gross fixed assets	224.9	188.3	171.9	#	#	#	40.7	40.1	30.6	40.8	33.3	42.8
	14.	Inventories to sales	33.6	43.6	51.6	8.0	8.1	7.7	5.3	5.0	5.9	6.6	6.4	2.8
	15.	Sundry debtors to sales	20.8	25.2	28.7	23.8	27.5	28.4	10.1	10.1	9.6	15.6	16.5	11.7
	16.	Exports to sales	3.7	4.5	4.2	30.0	24.3	22.6	-	-	-	-	-	0.1
	17.	Gross value added to gross fixed assets	56.0	49.2	44.5	109.2	99.0	85.4	21.7	20.2	14.5	15.6	8.7	18.9
	18.	Raw materials consumed to
		value of production	19.3	17.5	20.8	88.3	87.0	85.8	10.9	9.6	10.0	0.4	2.9	1.4

D.	Profitability and profit allocation ratios
	19.	Gross profits to total net assets	8.9	8.0	6.7	8.0	7.0	5.9	7.2	6.7	2.9	2.1	4.7	5.7
	20.	Gross profits to sales	10.3	10.9	10.1	4.7	4.4	3.9	24.0	22.0	12.1	5.4	14.7	12.9
	21.	Profits after tax to net worth	12.5	9.9	8.9	15.0	12.3	5.9	6.7	6.6	3.7	-	1.6	2.5
	22.	Tax provision to profits before tax	29.7	29.5	38.8	16.3	18.0	23.9	19.2	19.7	21.7	#	52.0	49.0
	23.	Profits retained to profits after tax	72.0	80.3	66.2	80.9	79.2	50.2	53.4	49.1	24.6	&	-	-
	24.	Dividends to net worth	3.5	2.0	3.0	2.9	2.5	2.9	3.1	3.4	2.8	2.9	2.8	3.7
	25.	Ordinary dividends to
		ordinary paid-up capital	17.5	9.8	14.7	14.6	13.5	16.2	22.9	24.0	17.5	4.7	4.0	5.0

					(Per cent)

			Computer and
	Item		Related activities
			(29)

			1999-00	2000-01	2001-02

		1	86	87	88

Selected Financial Ratios
A.	Capital structure ratios
	1.	Net fixed assets to total net assets	22.6	22.6	21.8
	2.	Net worth to total net assets	73.1	78.1	82.8
	3.	Debt to equity	4.5	3.1	2.9
	4.	Debt to equity (equity adjusted for
		revaluationreserve)	4.5	3.1	2.9
	5.	Short term bank borrowings to
		inventories	124.3	108.8	86.1
	6.	Total outside liabilities to net worth	36.8	28.1	20.8

B.	Liquidity ratios
	7.	Current assets to current liabilities *	3.1	3.0	4.4
	8.	Quick assets to current liabilities	232.4	218.7	342.9
	9.	Current assets to total net assets	71.5	58.4	64.4
	10.	Sundry creditors to current assets	15.5	14.6	8.9
	11.	Sundry creditors to net working capital	23.0	21.8	11.5

C.	Assets utilization and turnover ratios
	12.	Sales to total net assets	111.2	96.8	92.0
	13.	Sales to gross fixed assets	298.6	277.7	256.4
	14.	Inventories to sales	1.9	1.8	1.4
	15.	Sundry debtors to sales	25.2	26.1	23.2
	16.	Exports to sales	4.0	3.5	2.7
	17.	Gross value added to gross fixed assets	166.0	168.6	171.6
	18.	Raw materials consumed to
		value of production	13.0	8.7	6.5

D.	Profitability and profit allocation ratios
	19.	Gross profits to total net assets	25.4	27.0	26.0
	20.	Gross profits to sales	22.8	27.9	28.2
	21.	Profits after tax to net worth	30.5	29.5	27.1
	22.	Tax provision to profits before tax	11.8	11.4	14.3
	23.	Profits retained to profits after tax	86.4	87.2	83.5
	24.	Dividends to net worth	4.1	3.8	4.5
	25.	Ordinary dividends to
		ordinary paid-up capital	30.5	43.4	67.8

Note : Figures in brackets below the industry name represents the number of companies in the industry. * Item B.7 is the actual ratio of current assets to current liabilities. - Numerator is negative or nil or neglible. # Denominator is negative or nil or negligible. & Both numerator and denominator are negative or nil or negligible.

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 of 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 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.

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.