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JSW Steel Hor

Consolidated Balance Sheet ------------------- in Rs. Cr. -------------------


Mar 17 Mar 16 Mar 15 Mar 14 Mar 13 17-Mar

12 mths 12 mths 12 mths 12 mths 12 mths 12 mths

EQUITIES AND LIABILITIES


SHAREHOLDER'S FUNDS
Equity Share Capital 301.33 302.75 302.75 302.75 284.15 106.05%
Preference Share Capital 595.15 764.44 764.44 764.44 279.03 213.29%
Total Share Capital 896.48 1067.19 1067.19 1067.19 563.18 159.18%
Total Reserves and Surplus 22346.3 20576.71 21986.89 20871.15 16780.55 133.17%
Total Shareholders Funds 23242.78 21643.9 23054.08 21938.34 17343.73 134.01%
Minority Interest -245.72 6.78 97.64 167.01 197.16 -124.63%
NON-CURRENT LIABILITIES
Long Term Borrowings 31820.61 32793.22 33676.63 26702.62 17393.16 182.95%
Deferred Tax Liabilities [Net] 3073.57 1420.17 3154.71 2123.42 3487.2 88.14%
Other Long Term Liabilities 541.19 692.67 590.9 910.04 600.42 90.14%
Long Term Provisions 97.09 94.93 90.34 59.56 41.19 235.71%
Total Non-Current Liabilities 35532.46 35000.99 37512.58 29795.64 21521.97 165.10%
CURRENT LIABILITIES
Short Term Borrowings 4880.65 2378.04 1207.99 4887.09 1652.99 295.26%
Trade Payables 14352.33 12812.34 14252.67 11699.32 10251.31 140.00%
Other Current Liabilities 10065.39 10174.59 9437.94 8790.03 6453.31 155.97%
Short Term Provisions 212.81 277.95 356.26 362.46 307.51 69.20%
Total Current Liabilities 29511.18 25642.92 25254.86 25738.9 18665.12 158.11%
Total Capital And Liabilities 88040.7 82294.59 85919.16 77639.89 57727.98 152.51%
ASSETS
NON-CURRENT ASSETS
Tangible Assets 57786.48 52811.53 50495.98 45386.49 33347.78 173.28%
Intangible Assets 71.9 86.59 94.94 97.59 54.7 131.44%
Capital Work-In-Progress 4081.37 6665.16 8066.18 9328.97 5854.43 69.71%
Intangible Assets Under Developme 281.72 238.86 199.09 70.78 43.44 648.53%
Fixed Assets 62221.47 59802.14 58856.19 54883.83 39300.35 158.32%
Non-Current Investments 1067.02 618.43 598.95 594.73 1606.44 66.42%
Deferred Tax Assets [Net] 84.41 274.86 265.28 0 215.2 39.22%
Long Term Loans And Advances 642.89 5056.86 5527.92 5131.7 3342 19.24%
Other Non-Current Assets 1891.85 544.04 268.15 17.5 16.03 11801.93%
Total Non-Current Assets 66779.32 67252.83 67101.85 62189.62 45794.34 145.82%
CURRENT ASSETS
Current Investments 300.09 0 0.3 68.01 143.51 209.11%
Inventories 11394.96 8403.35 11009.04 8155.12 5495.23 207.36%
Trade Receivables 4149.44 2801.6 2499.75 2292.44 2106.29 197.00%
Cash And Cash Equivalents 1485.13 733.98 1913.25 662.97 1653.37 89.82%
Short Term Loans And Advances 723.15 2847.85 3394.97 4271.73 2535.24 28.52%
OtherCurrentAssets 3208.61 254.98 0 0 0
Total Current Assets 21261.38 15041.76 18817.31 15450.27 11933.64 178.16%
Total Assets 88040.7 82294.59 85919.16 77639.89 57727.98 152.51%
OTHER ADDITIONAL INFORMATION
CONTINGENT LIABILITIES, COMMITMENTS
Contingent Liabilities 14864.24 9254.63 10486.7 14769.34 25500.05 58.29%
BONUS DETAILS
NON-CURRENT INVESTMENTS
Non-Current Investments Quoted M 637.06 706.66 1203.51 602.01 0
Non-Current Investments Unquoted 176.99 366.87 347.39 343.43 1606.44 11.02%
CURRENT INVESTMENTS
Current Investments Quoted Market 300.09 0 0 0 0
Current Investments Unquoted Boo 0 0 0.3 68.01 143.51 0.00%

RATIOS OF ALL THE 4 COMPANIES CO

JSW STEEL J
Mar 17 Mar 16 Mar 15 Mar 14 Mar 13
PROFATIBILITY RATIOS PROFITABILITY RATIOS
PBDIT Margin 22.56% 9.99% 18.19% 14.95% 16.29% PBDIT Margin
PBIT Margin 16.29% 2.25% 11.59% 8.64% 10.41% PBIT Margin
PBT Margin 9.39% -5.76% 4.88% 2.59% 5.25% PBT Margin
Net profit margin 6.32% -2.06% 3.30% 0.77% 3.12% Net Profit Mar
ROE 14.86% -3.93% 7.46% 1.77% 6.85% ROE
ROCE 10.17% 2.40% 6.70% 4.70% 6.45% ROCE
ROTA 6.79% 1.66% 4.73% 3.13% 4.34% ROA(before ta

ACTIVITY MEASURES ACTIVITY MEASURES


Asset turnover ratio 0.631578 0.50889 0.616527 0.659708 0.661891 asset Turnover
Inventory turnover ratio 4.794068 4.904865 4.727984 6.181254 6.932369 Inventory Turn
Working capital ratio -6.62176 -3.888 -8.08546 -4.89947 -5.65923 Working Capit
Inventory conversion period 76.13576 74.41591 77.19992 59.0495 52.65156
Debtors turnover ratio 13.1652 14.71206 20.82231 21.98918 18.08628
Debtors collection period 27.72461 24.80958 17.52927 16.59907 20.18104
Creditors turnover ratio 2.072735 1.659093 2.164646 2.583209 2.370261
Creditors payment period 176.0958 219.9998 168.6188 141.2971 153.9915
Cash Conversion ratio -72.2354 -120.774 -73.8896 -65.6485 -81.1589
SOLVENCY RATIO
Debt ratio 0.738791 0.736912 0.730541 0.715284 0.696146
Debt equity ratio 1.528753 1.61713 1.627156 1.358154 1.240908
Leverage ratio 3.787873 3.802207 3.726853 3.539005 3.328464

LIQUIDITY RATIOS LIQUIDITY RATIOS


Cash Ratio 0.074829 0.139681 0.210186 0.191721 0.224408 Cash Ratio
Current Ratio 0.720452 0.586585 0.745097 0.600269 0.639355 Current Ratio
Quick ratio 0.334328 0.258879 0.309179 0.283429 0.344943 Quick Ratio

DUPONT ANALYSIS DUPONT ANALYSIS


Operating profit margin 16.29% 2.25% 11.59% 8.64% 10.41% Operating Prof
Capital turnover ratio 0.929443 0.727644 0.859393 0.974386 0.980169 Capital turnove
Gearing Ratio 2.528753 2.61713 2.627156 2.358154 2.240908 Gearing Ratio
Leverage effect 0.576448 -2.55942 0.42093 0.300293 0.504018 Leverage Effec
Tax adjustments 0.673519 0.358243 0.677285 0.296602 0.594411 Tax adjustmen
Horizontal Vertical

Mar 16 Mar 15 Mar 14 Mar 13 17-Mar Mar 16 Mar 15 Mar 14 Mar 13

12 mths 12 mths 12 mths 12 mths 12 mths 12 mths 12 mths 12 mths 12 mths

106.55% 106.55% 106.55% 100.00%


273.96% 273.96% 273.96% 100.00%
189.49% 189.49% 189.49% 100.00% 3.86% 4.93% 4.63% 4.86% 3.25%
122.62% 131.03% 124.38% 100.00% 96.14% 95.07% 95.37% 95.14% 96.75%
124.79% 132.92% 126.49% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
3.44% 49.52% 84.71% 100.00%

188.54% 193.62% 153.52% 100.00% 89.55% 93.69% 89.77% 89.62% 80.82%


40.73% 90.47% 60.89% 100.00% 8.65% 4.06% 8.41% 7.13% 16.20%
115.36% 98.41% 151.57% 100.00% 1.52% 1.98% 1.58% 3.05% 2.79%
230.47% 219.33% 144.60% 100.00% 0.27% 0.27% 0.24% 0.20% 0.19%
162.63% 174.30% 138.44% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

143.86% 73.08% 295.65% 100.00% 16.54% 9.27% 4.78% 18.99% 8.86%


124.98% 139.03% 114.13% 100.00% 48.63% 49.96% 56.44% 45.45% 54.92%
157.66% 146.25% 136.21% 100.00% 34.11% 39.68% 37.37% 34.15% 34.57%
90.39% 115.85% 117.87% 100.00% 0.72% 1.08% 1.41% 1.41% 1.65%
137.38% 135.31% 137.90% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
142.56% 148.83% 134.49% 100.00%

158.37% 151.42% 136.10% 100.00% 92.87% 88.31% 85.80% 82.70% 84.85%


158.30% 173.56% 178.41% 100.00% 0.12% 0.14% 0.16% 0.18% 0.14%
113.85% 137.78% 159.35% 100.00% 6.56% 11.15% 13.70% 17.00% 14.90%
549.86% 458.31% 162.94% 100.00% 0.45% 0.40% 0.34% 0.13% 0.11%
152.17% 149.76% 139.65% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
38.50% 37.28% 37.02% 100.00%
127.72% 123.27% 0.00% 100.00%
151.31% 165.41% 153.55% 100.00%
3393.89% 1672.80% 109.17% 100.00%
146.86% 146.53% 135.80% 100.00%

0.00% 0.21% 47.39% 100.00% 1.41% 0.00% 0.00% 0.44% 1.20%


152.92% 200.34% 148.40% 100.00% 53.59% 55.87% 58.50% 52.78% 46.05%
133.01% 118.68% 108.84% 100.00% 19.52% 18.63% 13.28% 14.84% 17.65%
44.39% 115.72% 40.10% 100.00% 6.99% 4.88% 10.17% 4.29% 13.85%
112.33% 133.91% 168.49% 100.00% 3.40% 18.93% 18.04% 27.65% 21.24%
15.09% 1.70% 0.00% 0.00% 0.00%
126.05% 157.68% 129.47% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
142.56% 148.83% 134.49% 100.00%

36.29% 41.12% 57.92% 100.00%

22.84% 21.62% 21.38% 100.00%

0.00% 0.21% 47.39% 100.00%

MPANIES CONSIDERED IN REPORT

JINDAL STEEL TATA


Mar 17 Mar 16 Mar 15 Mar 14 Mar 13 Mar 17 Mar 16 Mar 15
ROFITABILITY RATIOS PROFITABILITY RATIOS
20.44% 17.69% 19.68% 27.83% 31.35% PBDIT Mar 11.84% 6.50% 6.80%
1.65% 3.01% 5.43% 18.62% 23.48% PBIT 6.76% 2.12% 2.50%
-14.48% -13.93% -8.04% 12.66% 19.60% PBT 2.21% -1.44% -1.00%
-12.09% -10.41% -7.58% 9.55% 14.89% Net profit -3.74% -2.74% -2.86%
-8% -11% -7% 8% 14% ROE -11.75% -11.15% -12.61%
-4% -4% -2% 4% 8% ROCE -3.48% -2.77% -3.84%
0% 1% 1% 5% 8% ROA 6.19% 2.11% 3.31%

CTIVITY MEASURES ACTIVITY MEASURES


0.231949 0.261118 0.253889 0.26784727 0.342616
5.838458 5.934057 3.955279 4.06454303 4.322114 Inventory T4.497777 5.6962 5.499778
0.304204 0.34184 0.324787 0.39116631 0.506778 Asset turno 0.91616 0.997588 1.321702
SOLVENCY RATIOS

Total Debt/ Equity


Leverage R 3.425903 4.078482 3.336121

QUIDITY RATIOS LIQUIDITY RATIOS


0.041426 0.407862 0.471886 0.47963473 0.461725 Cash Ratio 0.360619 0.78737 0.459379
0.619679 0.763167 1.044821 0.80863327 0.846673 Current Ra 0.892362 1.080447 1.070852
0.447236 0.567818 0.734637 0.58946584 0.594355 Quick ratio 0.356582 0.513204 0.50038

UPONT ANALYSIS DUPONT ANALYSIS


1.65% 3.01% 5.43% 18.62% 23.48% Operating 6.76% 2.12% 2.50%
0.304204 0.34184 0.324787 0.39116631 0.506778 Capital tur 0.928371 1.011991 1.343577
2.298764 3.095474 2.806174 2.24320781 1.815569 Gearing rat3.380841 4.020437 3.281805
-8.77701 -4.62943 -1.48206 0.68016062 0.834881 Leverage ef0.327132 -0.682 -0.40122
0.834802 0.747171 0.942855 0.75389827 0.75953 Tax adjust -1.69353 1.898999 2.849599
JSW Steel Previous Years »
Consolidated Profit & Loss account ------------------- in Rs. Cr. ----------
Mar 17 Mar-16

12 mths 12 mths

INCOME
Revenue From Operations [Gross] 59559.87 45642.48
Less: Excise/Sevice Tax/Other Levies 4931.66 4425.18
Revenue From Operations [Net] 54628.21 41217.3
Other Operating Revenues 976.38 661.58
Total Operating Revenues 55604.59 41878.88
Other Income 152.13 168.21
Total Revenue 55756.72 42047.09
EXPENSES
Cost Of Materials Consumed 29748.58 21256.86
Purchase Of Stock-In Trade 0 16.2
Operating And Direct Expenses 0 102.78
Changes In Inventories Of FG,WIP And Stock-In Trade -1485.92 1374.76
Employee Benefit Expenses 1699.59 1568.02
Finance Costs 3768.12 3302.68
Depreciation And Amortisation Expenses 3429.87 3187.92
Other Expenses 13468.12 11487.27
Total Expenses 50628.36 42296.49
Profit/Loss Before Exceptional, ExtraOrdinary Items And Tax 5128.36 -249.4
Exceptional Items 0 -2125.41
Profit/Loss Before Tax 5128.36 -2374.81
Tax Expenses-Continued Operations
Current Tax 151.79 89
Less: MAT Credit Entitlement 0 45.88
Deferred Tax 1522.52 -1682.61
Tax For Earlier Years 0 115.44
Total Tax Expenses 1674.31 -1524.05
Profit/Loss After Tax And Before ExtraOrdinary Items 3454.05 -850.76
Extraordinary Items 0 0
Profit/Loss From Continuing Operations 3454.05 -850.76
Profit/Loss For The Period 3454.05 -850.76
Minority Interest 55.88 95.03
Share Of Profit/Loss Of Associates 13.19 13.78
Consolidated Profit/Loss After MI And Associates 3523.12 -741.95
OTHER ADDITIONAL INFORMATION
EARNINGS PER SHARE
Basic EPS (Rs.) 15 -32
Diluted EPS (Rs.) 15 -32
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend 218.2 181.29
Preference Share Dividend 0 27.9
Tax On Dividend 0 42.59

ATA SAIL
Mar 14 Mar 13 Mar 17
PROFITABILITY RATIOS
11.47% 4.06% PBDIT Mar 0.68%
7.51% -0.12% PBIT Margi -5.42%
4.56% -3.10% PBT Margi -11.17%
2.49% -5.52% Net Margi -6.71%
9.04% -21.53% ROE -7.96%
3.29% -8.05% ROCE -4.82%
9.79% -0.18% ROA -2.21%

ACTIVITY MEASURES

5.48167 5.537983 Inventory t 2.79273


1.304451 1.432892 Asset turno0.408368
SOLVENCY RATIOS

Total Debt per equity


2.785495 2.723036 Leverage ra2.905202

LIQUIDITY RATIOS
0.444649 0.511804 Cash Ratio 0.009739
1.04373 1.053809 Current rat 0.554419
0.498861 0.524294 Quick ratio 0.21502

DUPONT ANALYSIS
7.51% -0.12% Operating -5.42%
1.324833 1.459052 Capital Tur 0.717488
2.742643 2.674215 Gearing Ra 1.653536
0.607845 25.07249 Leverage ef2.061311
0.545061 1.781389 Tax adjust 0.600881
---------------- in Rs. Cr. -------------------
Mar-15 Mar-14 Mar-13

12 mths 12 mths 12 mths

56571.86 54620.76 41463.15


4521.29 4211.89 3368.19
52050.57 50408.87 38094.96
920.94 810.75 114.69
52971.51 51219.62 38209.65
111.44 85.81 69.73
53082.95 51305.43 38279.38

30851.98 30221.79 24298.28


288.44 215.58 11.77
33.74 88.79 10.86
-1488.21 -192.18 -152.44
1532.84 1298.24 980.25
3493.03 3047.86 1967.46
3434.49 3182.61 2237.48
12350.43 10421.94 6557.01
50496.74 48284.63 35910.67
2586.21 3020.8 2368.71
-47.1 -1712.75 -369.37
2539.11 1308.05 1999.34

744.03 444.12 515.09


719.15 428.37 294.1
794.53 904.33 624.26
0 0 0
819.41 920.08 845.25
1719.7 387.97 1154.09
0 0 34.34
1719.7 387.97 1188.43
1719.7 387.97 1188.43
74.77 50.44 0
2.1 13.54 -225.32
1796.57 451.95 963.11

73 17 42
73 17 42
265.89 287.66 223.12
27.9 27.9 27.9
59.81 49.93 42.66

SAIL
Mar 16 Mar 15 Mar 14 Mar 13
BILITY RATIOS
-7.69% 13.13% 13.10% 13.03%
-13.48% 8.99% 9.15% 9.59%
-19.06% 5.61% 6.89% 7.69%
-11.33% 4.75% 5.69% 5.24%
-11.06% 4.89% 6.12% 5.59%
-7.09% 3.25% 4.07% 3.68%
-5.22% 4.03% 4.54% 4.93%

MEASURES

0.408368 2.534239 3.033755 2.751754


0.38711 0.448798 0.495774 0.514151
t per equity
2.521007 2.293742 2.171403 2.077573

0.072327 0.158086 0.150065 0.225387


0.589697 0.833331 0.954307 1.22545
0.193775 0.317748 0.42163 0.529002

-13.48% 8.99% 9.15% 9.59%


0.625217 0.683925 0.715242 0.702696
1.560909 1.505177 1.505121 1.520126
1.414589 0.624485 0.752215 0.801583
0.594621 0.84543 0.826116 0.681135
Consolidated Balance Sheet ------------------- in Rs. Cr. -------------------
Mar 17 Mar-16 Mar-15 Mar-14 Mar-13

12 mths 12 mths 12 mths 12 mths 12 mths

EQUITIES AND LIABILITIES


SHAREHOLDER'S FUNDS
Equity Share Capital 91.5 91.49 91.49 91.49 93.48
Total Share Capital 91.5 91.49 91.49 91.49 93.48
Reserves and Surplus 29959.03 18055.59 20950.58 22519.05 21158.78
Total Reserves and Surplus 29959.03 18055.59 20950.58 22519.05 21158.78
Total Shareholders Funds 30050.53 18147.08 21042.07 22610.54 21252.26
Minority Interest 646.71 800.28 857.25 1080.22 557.27
NON-CURRENT LIABILITIES
Long Term Borrowings 32598.34 36361.71 35399.57 25900.25 15401.64
Deferred Tax Liabilities [Net] 5358.63 1347.66 2018.47 1472.67 1336.54
Other Long Term Liabilities 764.36 121.63 428.27 687.68 561.79
Long Term Provisions 307.21 195.73 159.32 49 32.71
Total Non-Current Liabilities 39028.54 38026.73 38005.63 28109.6 17332.68
CURRENT LIABILITIES
Short Term Borrowings 7360.1 7777.95 6852.34 8329.58 8247.18
Trade Payables 2937.82 2317.74 2053.29 2751.53 1398.2
Other Current Liabilities 10511.8 6404.58 6571.14 5632.28 3401.25
Short Term Provisions 62.43 64.8 154.89 5558.35 4883.8
Total Current Liabilities 20872.15 16565.07 15631.66 22271.74 17930.43
Total Capital And Liabilities 90597.93 73539.16 75536.61 74072.1 57072.64
ASSETS
NON-CURRENT ASSETS
Tangible Assets 62189.52 41610.83 42737.61 31634.05 19254.55
Intangible Assets 3143.23 3277.43 3357.29 2761.88 20.1
Capital Work-In-Progress 8713.98 10702.49 7400.53 16391.6 18082.84
Intangible Assets Under Development 1002.19 1124.1 1672.24 1419.57 1147.45
Other Assets 32.34 0 0 0 0
Fixed Assets 75081.26 56714.85 55167.67 52207.1 38504.94
Non-Current Investments 367.66 357.71 352.79 341.83 808.86
Long Term Loans And Advances 91.25 3209.34 3088.45 2919.84 2421.43
Other Non-Current Assets 1556.73 66.9 46.97 0.64 1.95
Total Non-Current Assets 77663.89 60897.25 59204.33 56062.43 41891.43
CURRENT ASSETS
Current Investments 0.38 0.03 1432.4 0.04 0
Inventories 3599.26 3235.97 4848.69 4881.24 4524.17
Trade Receivables 1716.62 1429.18 1690.7 1772.41 1954.13
Cash And Cash Equivalents 477.22 620.38 1139.07 1015.28 200.13
Short Term Loans And Advances 387.43 6135.88 6237.29 9667.02 8078.79
OtherCurrentAssets 6753.13 1220.47 984.13 673.68 423.99
Total Current Assets 12934.04 12641.91 16332.28 18009.67 15181.21
TOTAL ASSETS 90597.93 73539.16 75536.61 74072.1 57072.64
OTHER ADDITIONAL INFORMATION
CONTINGENT LIABILITIES, COMMITMENTS
Contingent Liabilities 10211.18 12681.21 14468.95 11689.01 14827.93
BONUS DETAILS
Bonus Equity Share Capital 77.57 77.57 77.57 77.57 77.57
NON-CURRENT INVESTMENTS
Non-Current Investments Quoted Market Value 3.46 1.46 0.01 15.71 519.49
Non-Current Investments Unquoted Book Value 364.2 349.25 341.5 320.2 313.14
CURRENT INVESTMENTS
Current Investments Quoted Market Value 0 0.03 1455.87 0 0
Current Investments Unquoted Book Value 0.38 0 0 0 0

RATIOS

PROFITABILITY RATIOS
PBDIT Margin 20.44% 17.69% 19.68% 27.83% 31.35%
PBIT Margin 1.65% 3.01% 5.43% 18.62% 23.48%
PBT Margin -14.48% -13.93% -8.04% 12.66% 19.60%
Net Profit Margin -12.09% -10.41% -7.58% 9.55% 14.89%
ROE -0.08453 -0.11014 -0.06913 0.083757 0.137003
ROCE -0.39% 0.32% 0.47% 5.29% 8.86%
ROA(before tax) -0.30% 0.25% 0.37% 3.63% 5.99%

ACTIVITY MEASURES
asset Turnover Ratio 0.231949 0.261118 0.253889 0.267847 0.342616
Inventory Turnover Ratio 5.838458 5.934057 3.955279 4.064543 4.322114
Working Capital Turnover 0.304204 0.34184 0.324787 0.391166 0.506778
Inventory Conversion period 62.5165 61.50935 92.28174 89.80099 84.44941
Debtors Turnover ratio 12.24157 13.43598 11.34318 11.1938 10.00649
Debtors collection period 29.81643 27.16587 32.17792 32.60732 36.47633
Creditors Turnover ratio 7.152967 8.28498 9.340093 7.210537 13.98511
Creditors payment period 51.02778 44.05563 39.07884 50.62036 26.09919
Cash Conversion period 41.30516 44.6196 85.38082 71.78796 94.82655

LIQUIDITY RATIOS
Cash Ratio 0.041426 0.407862 0.471886 0.479635 0.461725
Current Ratio 0.619679 0.763167 1.044821 0.808633 0.846673
Quick Ratio 0.447236 0.567818 0.734637 0.589466 0.594355

DUPONT ANALYSIS
Operating Profit Margin 1.65% 3.01% 5.43% 18.62% 23.48%
Capital turnover ratio 0.304204 0.34184 0.324787 0.391166 0.506778
Gearing Ratio 2.298764 3.095474 2.806174 2.243208 1.815569
Leverage Effect(PBT/PBIT) -8.77701 -4.62943 -1.48206 0.680161 0.834881
Tax adjustments 0.834802 0.747171 0.942855 0.753898 0.75953

SOLVENCY RATIOS
Leverage ratio 2.298764 3.095474 2.806174 2.243208 1.815569
Debt ratio 0.661171 0.74235 0.710083 0.680166 0.617864
Jindal Steel & Power
Consolidated Profit & Loss account ------------------- in Rs
Mar 17

12 mths

INCOME
Revenue From Operations [Gross] 22659.86
Less: Excise/Sevice Tax/Other Levies 1645.73
Revenue From Operations [Net] 21014.13
Other Operating Revenues 641.37
Total Operating Revenues 21655.5
Other Income 9.99
Total Revenue 21665.49
EXPENSES
Cost Of Materials Consumed 6535.46
Purchase Of Stock-In Trade 265.39
Operating And Direct Expenses 1018.06
Changes In Inventories Of FG,WIP And Stock-In Trade 282.62
Employee Benefit Expenses 913.55
Finance Costs 3389.59
Depreciation And Amortisation Expenses 3949.02
Other Expenses 7982.39
Less: Inter Unit / Segment / Division Transfer 0
Total Expenses 24336.08
Profit/Loss Before Exceptional, ExtraOrdinary Items And Tax -2670.59
Exceptional Items -372.31
Profit/Loss Before Tax -3042.9
Tax Expenses-Continued Operations
Current Tax 0.72
Less: MAT Credit Entitlement 0
Deferred Tax -503.4
Tax For Earlier Years 0
Total Tax Expenses -502.68
Profit/Loss After Tax And Before ExtraOrdinary Items -2540.22
Profit/Loss From Continuing Operations -2540.22
Profit/Loss For The Period -2540.22
Minority Interest 256.24
Share Of Profit/Loss Of Associates 2.7
Consolidated Profit/Loss After MI And Associates -2281.28
OTHER ADDITIONAL INFORMATION
EARNINGS PER SHARE
Basic EPS (Rs.) -28
Diluted EPS (Rs.) -28
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend 0
Tax On Dividend 0
------------------- in Rs. Cr. -------------------
Mar-16 Mar-15 Mar-14 Mar-13

12 mths 12 mths 12 mths 12 mths

20516.94 20439.3 21620.45 21485.13


1314.51 1261.38 1780.44 1931.15
19202.43 19177.92 19840.01 19553.98
0 222.75 164.03 252.8
19202.43 19400.67 20004.04 19806.78
527.34 225.6 65.63 136.42
19729.77 19626.27 20069.67 19943.2

6076.27 5710.71 5655.77 6306.89


20.58 81.87 58.52 91.16
0 1140.18 999.37 0
466.32 -157.18 474.87 -247.08
912.51 1090.34 794.63 641.49
3252.74 2583.7 1181.25 758.16
2819.39 2732.83 1829.2 1539.22
8621.06 6833.46 6564.05 7019.91
0 758.53 0 0
22168.87 19257.38 17557.66 16109.75
-2439.1 368.89 2512.01 3833.45
-235.83 -1911.64 0 0
-2674.93 -1542.75 2512.01 3833.45

0.67 -0.04 612.1 777.24


0 665 130.01 0
-676.97 610.13 136.12 144.59
0 -33.25 0 0
-676.3 -88.16 618.21 921.83
-1998.63 -1454.59 1893.8 2911.62
-1998.63 -1454.59 1893.8 2911.62
-1998.63 -1454.59 1893.8 2911.62
98.02 173.84 2.55 -41.71
-1.4 2.63 14.01 40.2
-1902.01 -1278.12 1910.36 2910.11

-21 -14 21 31
-21 -14 21 31
0 0 142.05 154.39
0 0 24.14 25.2
Tata Steel
Consolidated Balance Sheet ------------------- in Rs. Cr. -------------------
Mar '17 Mar '16 Mar '15 Mar '14 Mar '13

12 mths 12 mths 12 mths 12 mths 12 mths

Sources Of Funds
Total Share Capital 970.24 990.24 991.41 991.41 992.62
Equity Share Capital 970.24 970.24 971.41 971.41 971.41
Preference Share Capital 0 20 20 20 21.21
Reserves 34574.08 27508.61 30378 39560.55 33200.83
Networth 35544.32 28498.85 31369.41 40551.96 34193.45
Secured Loans 25113.61 34180.77 25629.88 30595.77 26976.81
Unsecured Loans 59511.76 51898.2 45949 40071.82 30270.37
Total Debt 84625.37 86078.97 71578.88 70667.59 57247.18
Minority Interest 1601.7 1654.24 1703.85 1737.72 1669.36
Total Liabilities 121771.4 116232.1 104652.1 112957.3 93109.99

Application Of Funds
Gross Block 128519.6 159370.7 160654.9 169195.8 145774.3
Less: Accum. Depreciation 36513.01 98721.77 92554.57 94288.85 77772.74
Net Block 92006.55 60648.94 68100.33 74906.93 68001.6
Capital Work in Progress 15784.13 35487.87 28678.12 26822.45 14276.62
Investments 12457.12 6800.62 3455.05 5093.47 3257.66
Inventories 24803.82 20355.98 25149.91 26880 24091.19
Sundry Debtors 11586.82 11701.18 13309.87 16005.77 13993.96
Cash and Bank Balance 4921.05 6715.58 8749.94 8604.5 9859.67
Total Current Assets 41311.69 38772.74 47209.72 51490.27 47944.82
Loans and Advances 11773.75 21539.84 11502.31 13331.33 13425.72
Total CA, Loans & Advances 53085.44 60312.58 58712.03 64821.6 61370.54
Current Liabilities 46294.78 35885.83 44086.11 49332.96 45496.7
Provisions 5267.07 11132.12 10207.28 9354.22 8299.73
Total CL & Provisions 51561.85 47017.95 54293.39 58687.18 53796.43
Net Current Assets 1523.59 13294.63 4418.64 6134.42 7574.11
Total Assets 121771.4 116232.1 104652.1 112957.3 93109.99

Contingent Liabilities 27748.99 44091.67 17953.5 19237.11 22005.8


Book Value (Rs) 366.42 293.58 322.79 417.33 351.85
RATIOS

PROFITABILITY RATIOS
Mar '17 Mar '16 Mar '15 Mar '14 Mar '13
PBDIT Margin 11.32% 6.50% 6.80% 11.47% 4.06%
PBIT 6.46% 2.12% 2.50% 7.51% -0.12%
PBT 2.11% -1.44% -1.00% 4.56% -3.10%
Net profit margin -3.31% -2.74% -2.86% 2.49% -5.52%
ROE -10.87% -11.15% -12.61% 9.04% -21.53%
ROCE -0.55% -0.48% -0.99% 9.30% -8.22%
ROTA -0.38% -0.36% -0.68% 5.82% -5.05%

ACTIVITY MEASURES

Inventory Turnover ratio 4.704219 5.6962 5.499778 5.48167 5.537983


Asset turnover ratio 0.95821 0.997588 1.321702 1.304451 1.432892
Invertory conversion period 77.58993 64.0778 66.36632 66.58555 65.90847
Debtors turnover ratio 10.07029 9.909406 10.39221 9.205885 9.53387
Debtors collection period 36.24524 36.83369 35.12248 39.64855 38.28456
Creditors turnover ratio 3.33835 2.080616 4.839675 4.705946 4.508977
Creditors payment period 109.3354 175.4288 75.41829 77.56145 80.94963
Cash conversion period 4.499724 -74.5173 26.07051 28.67265 23.2434

SOLVENCY RATIOS

Debt ratio 0.694953 0.740579 0.68397 0.625613 0.614834


Leverage Ratio 3.425903 4.078482 3.336121 2.785495 2.723036

LIQUIDITY RATIOS

Cash Ratio 0.360619 0.78737 0.459379 0.444649 0.511804


Current Ratio 0.892362 1.080447 1.070852 1.04373 1.053809
Quick ratio 0.356582 0.513204 0.50038 0.498861 0.524294
Interest coverage ratio 1.486176 0.59453 0.713663 2.55001 -0.04154

DUPONT ANALYSIS

Operating profit margin 6.46% 2.12% 2.50% 7.51% -0.12%


Capital turnover ratio 0.970982 1.011991 1.343577 1.324833 1.459052
Gearing ratio 3.380841 4.020437 3.281805 2.742643 2.674215
Leverage effect 0.327132 -0.682 -0.40122 0.607845 25.07249
Tax adjustment -1.567 1.898999 2.849599 0.545061 1.781389
INCOME STATEMENT
Mar '17 Mar '16 Mar '15

12 mths 12 mths 12 mths

INCOME
Revenue From Operations [Gross] 116682.6 120418.6 143113.5
Less: Excise/Sevice Tax/Other Levies 5120.52 4466.83 4794.63
Revenue From Operations [Net] 116682.6 115951.7 138318.9
Other Operating Revenues 737.37 1199.85 1184.82
Total Operating Revenues 112299.4 117151.6 139503.7
Other Income 527.47 3925.66 796.18
Total Revenue 112826.9 121077.3 140299.9
EXPENSES
Cost Of Materials Consumed 32418.09 32188.3 40770.27
Purchase Of Stock-In Trade 11424.94 10174.01 13804.22
Changes In Inventories Of FG,WIP And Stock-In Trade -4538.13 2453.82 1092.95
Employee Benefit Expenses 17252.22 19966.8 21407.64
Finance Costs 5072.2 4128.64 4847.75
Depreciation And Amortisation Expenses 5672.88 5081.84 5943.6
Other Expenses 39499.19 45905.32 51061.09
Less: Amounts Transfer To Capital Accounts 764.71 1122.31 1168.19
Total Expenses 106036.7 118776.4 137759.3
Profit/Loss Before Exceptional, ExtraOrdinary Items And Tax 6790.21 2300.83 2540.58
Exceptional Items -4324.23 -3974.87 -3928.67
Profit/Loss Before Tax 2465.98 -1674.04 -1388.09
Tax Expenses-Continued Operations
Current Tax 1741.7 1631.14 2214.71
Less: MAT Credit Entitlement 0 152.56 117.32
Deferred Tax 1036.31 26.38 470.02
Tax For Earlier Years 0 0 0
Total Tax Expenses 2778.01 1504.96 2567.41
Profit/Loss After Tax And Before ExtraOrdinary Items -312.03 -3179 -3955.5
Profit/Loss From Continuing Operations -312.03 -3179 -3955.5
Profit Loss From Discontinuing Operations -3864.19 -3179 -3955.5
Net Profit Loss From Discontinuing Operations -3864.19 -3179 -3955.5
Profit/Loss For The Period -3864.19 -3179 -3955.5
Minority Interest -72.23 108.94 13.29
Share Of Profit/Loss Of Associates 7.65 20.74 16.69
Consolidated Profit/Loss After MI And Associates -4240.8 -3049.32 -3925.52
OTHER ADDITIONAL INFORMATION
EARNINGS PER SHARE
Basic EPS (Rs.) -45 -33 -42
Diluted EPS (Rs.) -45 -33 -42
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend 1043.07 776.04 776.97
Preference Share Dividend 0 0 0
Tax On Dividend 55.65 163.94 164.2
Mar '14 Mar '13

12 mths 12 mths

151946.5 137526.2
4599.24 4109.6
147347.3 133416.6
1266.27 1294.94
148613.6 134711.5
516.81 479.15
149130.4 135190.7

46242.98 40643.46
17008.21 18473.87
-514.67 1418.93
20303.41 18918.25
4336.83 3968.11
5841.22 5575.32
50689.4 44252.81
1526.79 1316.99
142380.6 131933.8
6749.77 3256.93
-27.64 -7389.88
6722.13 -4132.95

3381.29 2325.4
0.21 410.12
-424.27 1314.16
101.35 0
3058.16 3229.44
3663.97 -7362.39
3663.97 -7362.39
3663.97 -7362.39
3663.97 -7362.39
3663.97 -7362.39
-69.92 214.46
0.84 90.31
3594.89 -7057.62

35 -75
35 -75
971.21 776.97
0.1 0.21
80.22 226.41
Steel Authority of India
------------------- in Rs. Cr. -------------------
Consolidated Profit & Loss account Mar 17 Mar-16 Mar-15 Mar-14
12 mths 12 mths 12 mths 12 mths
INCOME
Revenue From Operations [Gross] 49273.83 43916.74 50992.96 52426.07
Less: Excise/Sevice Tax/Other Levies 5327.18 4949.58 5521.21 5810.94
Revenue From Operations [Net] 43946.65 38967.16 45471.75 46615.13
Other Operating Revenues 555.12 545 480.2 486.02
Total Operating Revenues 44501.77 39512.16 45951.95 47101.15
Other Income 449.48 593.41 982.99 800.54
Total Revenue 44951.25 40105.57 46934.94 47901.69
EXPENSES
Cost Of Materials Consumed 21161.45 17927.67 19217.44 20007.17
Purchase Of Stock-In Trade 0 14.96 7.3 5.85
Changes In Inventories Of FG,WIP And Stock-In Trade 117.34 590.87 -1412.5 896.49
Employee Benefit Expenses 8963.78 10075.81 9866.15 9710.25
Finance Costs 2527.82 2176.98 1534.91 1057.27
Depreciation And Amortisation Expenses 2681.62 2254.31 1882.96 1841.94
Other Expenses 14192.11 14492.88 13286.11 12132.67
Total Expenses 49644.12 47533.48 44382.37 45651.64
Profit/Loss Before Exceptional, ExtraOrdinary Items And Tax -4692.87 -7427.91 2552.57 2250.05
Exceptional Items -216.74 0 0 959.57
Profit/Loss Before Tax -4909.61 -7427.91 2552.57 3209.62
Tax Expenses-Continued Operations
Current Tax 30.64 60.8 548.25 775.19
Less: MAT Credit Entitlement 0 27.52 511.92 522.53
Deferred Tax -2005.3 -2985.34 287.21 341.85
Tax For Earlier Years 15.14 -74.43 -17.59 113.4
Total Tax Expenses -1959.52 -3026.49 305.95 707.91
Profit/Loss After Tax And Before ExtraOrdinary Items -2950.09 -4401.42 2246.62 2501.71
Prior Period Items 0 -15.37 -88.6 149.81
Profit/Loss From Continuing Operations -2950.09 -4416.79 2158.02 2651.52
Profit/Loss For The Period -2950.09 -4416.79 2158.02 2651.52
Minority Interest 0 119.78 0 0
Share Of Profit/Loss Of Associates 193.92 0.26 0.14 -0.39
Consolidated Profit/Loss After MI And Associates -2756.17 -4296.75 2158.16 2651.13
OTHER ADDITIONAL INFORMATION
EARNINGS PER SHARE
Basic EPS (Rs.) -7 -11 5 6
Diluted EPS (Rs.) -7 -11 5 6
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend 0 0 826.1 834.35
Tax On Dividend 0 16.45 177.91 157.98
RATIOS

PROFATIBILITY RATIOS
PBDIT Margin 0.68% -7.69% 13.13% 13.10%
PBIT Margin -5.42% -13.48% 8.99% 9.15%
PBT Margin -11.17% -19.06% 5.61% 6.89%
Net Margin -6.71% -11.33% 4.75% 5.69%
ROE -7.96% -11.06% 4.89% 6.12%
ROCE -2.05% -4.75% 4.79% 5.16%
ROA -1.17% -2.94% 3.14% 3.57%

ACTIVITY MEASURES
Inventory turnover ratio 2.79273 2.536328 2.534239 3.033755
Asset turnover ratio 0.408368 0.38711 0.448798 0.495774
Inventory conversion period 130.6965 143.9088 144.0275 120.313
Debtors turnover ratio 14.97489 13.79266 14.12947 8.474523
Debtors collection period 24.37414 26.46335 25.83253 43.07027
Creditors turnover period 4.055153 4.167704 5.294571 6.209935
Creditors payment period 90.00894 87.5782 68.93854 58.77678
Cash Conversion Period 65.06169 82.79396 100.9214 104.6064

SOLVENCY RATIOS
Debt ratio 0.65579 0.607989 0.563725 0.539413
Leverage ratio 2.905202 2.521007 2.293742 2.171403

LIQUIDITY RATIOS
Cash Ratio 0.009739 0.072327 0.158086 0.150065
Current ratio 0.554419 0.589697 0.833331 0.954307
Quick ratio 0.21502 0.193775 0.317748 0.42163
ority of India
------------------- ------------------- in Rs. Cr. ------
CONSOLIDATED BALANCE
Mar-13 Mar 17 Mar-16
SHEET
12 mths 12 mths 12 mths
EQUITIES AND LIABILITIES
49936.51 SHAREHOLDER'S FUNDS
5452.4 Equity Share Capital 4130.53 4130.53
44484.11 Total Share Capital 4130.53 4130.53
603.13 Reserves and Surplus 32911.73 35798.67
45087.24 Total Reserves and Surplus 32911.73 35798.67
945.13 Total Shareholders Funds 37042.26 39929.2
46032.37 Equity Share Application Money 0 2.21
Minority Interest 0.01 -470.91
21963.65 NON-CURRENT LIABILITIES
14.76 Long Term Borrowings 19087.48 16700.39
-2019.6 Deferred Tax Liabilities [Net] 0 0
8757.1 Other Long Term Liabilities 1524.58 1298.83
846.53 Long Term Provisions 3596.4 4397.43
1529.68 Total Non-Current Liabilities 24208.46 22396.65
11291.04 CURRENT LIABILITIES
42383.16 Short Term Borrowings 19813.04 15891.76
3649.21 Trade Payables 5218.41 4301.57
-229.33 Other Current Liabilities 18408.19 16006.79
3419.88 Short Term Provisions 2924.87 2604.54
Total Current Liabilities 46364.51 38804.66
1118.99 Total Capital And Liabilities 107615.2 100661.8
0 ASSETS
14.92 NON-CURRENT ASSETS
-2.49 Tangible Assets 48776.83 44573.22
1131.42 Intangible Assets 1522.58 2237.1
2288.46 Capital Work-In-Progress 23275.39 24954.73
40.94 Other Assets 0.86 0
2329.4 Fixed Assets 73575.66 71765.05
2329.4 Non-Current Investments 2475.46 15.74
0 Deferred Tax Assets [Net] 3848.75 538.68
0 Long Term Loans And Advances 453.52 5210.65
2329.4 Other Non-Current Assets 1556.48 248.71
Total Non-Current Assets 81909.87 77778.83
CURRENT ASSETS
6 Current Investments 0 48.31
6 Inventories 15736.09 15363.61
Trade Receivables 2934.69 2825.21
826.1 Cash And Cash Equivalents 378.83 692.76
149.44 Short Term Loans And Advances 72.73 2113.85
OtherCurrentAssets 6583.03 1839.24
Total Current Assets 25705.37 22882.98
Total Assets 107615.2 100661.8
OTHER ADDITIONAL INFORMATION
CONTINGENT LIABILITIES, COMMITMENTS
Contingent Liabilities 52058.61 50523.45
BONUS DETAILS
NON-CURRENT INVESTMENTS
Non-Current Investments Quoted Mar 13.3 10.32
Non-Current Investments Unquoted B 59.43 23.16
CURRENT INVESTMENTS
Current Investments Unquoted Book 0 0

13.03%
9.59%
7.69%
5.24%
5.59%
4.58%
3.35%

2.751754
0.514151
132.6427
9.748425
37.44195
6.375719
57.24845
112.8362

0.518635
2.077573

0.225387
1.22545
0.529002
------------------ in Rs. Cr. -------------------
Mar-15 Mar-14 Mar-13
12 mths 12 mths 12 mths

4130.53 4130.53 4130.53


4130.53 4130.53 4130.53
40041.34 39170.91 37513.99
40041.34 39170.91 37513.99
44171.87 43301.44 41644.52
31.07 5.21 2.92
0 0 0

14438.05 14168.07 14153.23


2566.11 2222.16 1900.15
1241.9 1385.45 1274.18
4068.57 4096.77 4332.84
22314.63 21872.45 21660.4

14317.72 10738.06 8130.18


3629.65 3221.8 3444.89
14357.57 12839.53 9054.41
2496.38 2046.38 2582.2
34801.32 28845.77 23211.68
101318.9 94024.87 86519.52

36212.71 26773.14 16835.93


1523.35 1522.18 1552.37
29327.76 33958.51 36154.94
0 0 0
67063.82 62253.83 54543.24
411.76 12.13 14.92
0 0 0
4787.22 4094.79 3465.65
55.08 136.39 50.95
72317.88 66497.14 58074.76

42.03 44.32 58.01


17942.96 15365.49 16165.73
3218.22 5500.62 4563.21
2606.34 3157.97 4176.32
2895.27 1170.78 1055.28
2296.19 2288.55 2426.21
29001.01 27527.73 28444.76
101318.9 94024.87 86519.52

24347.48 20098.03 32674.18

11.4 8.27 8.1


419.18 19.55 21.94

42.03 44.32 58.01

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