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Grindwell Norton Limited (Consolidated : 2004-2012)

Dec'2004
Sales Tunover (Gross)
Less: Excise Duty

301.35
18.4%
(35.63)

Sales Turnover (Net)

265.72

Other Income
Total Income

11.61
277.34

Less: Expenditure
Raw materials consumed (Production Oriented)
Cost of Purchase of Finished goods for Trade
(Increase) / Decrease in Stocks
Manufacturing, Administration & Selling Expenses
Employee benefits expense
Finance Costs
Depreciation & Amortization
Doubtful Debt Provision/Written Off (or Written Back)
Total Expenditure

86.32
13.07
(6.66)
94.23
39.00
0.20
6.74
0.85
233.75

Profit Before Tax & Extraordinary Items

43.58

Extraordinary Item

(0.91)

Profit Before Tax

42.67

Less: Tax
Current Income Tax
Deferred Income Tax
Fringe Benefit Tax
Tax Adjusted for Earlier Years
Total

14.70
(1.21)
13.49

Profit After Tax

29.18

Profit After Tax (% Change YoY)

Dec' 2005

Dec' 2006

Dec' 2007

Dec' 2008

Mar' 2010

Mar' 2011

360.49
19.6%
(42.61)

421.29
16.9%
(48.36)

497.01
18.0%
(56.18)

554.98
11.7%
(53.36)

744.88
34.2%
(42.66)

837.62
12.4%
(56.88)

317.88

372.92

440.83

501.62

702.22

780.74

11.03
328.91

13.12
386.04

21.32
462.14

20.72
522.34

23.45
725.67

26.82
807.56

104.39
15.45
2.14
105.36
40.16
0.13
7.55
0.18

117.99
31.23
(5.62)
119.04
44.73
0.15
9.30
0.71

157.83
31.21
(15.11)
137.52
55.38
0.29
12.18
0.68

188.98
37.70
(14.48)
155.99
61.81
0.61
13.96
(0.54)

233.65
52.40
6.73
197.00
90.83
2.51
21.70
0.01

277.62
67.63
(18.54)
248.81
84.31
3.42
21.04
0.48

275.36

317.53

379.99

444.02

604.83

684.76

53.56

68.51

82.15

78.32

120.84

122.80

77.00

7.72

53.56

68.51

159.15

78.32

128.56

122.80

17.57
0.04
0.54
###
18.15

21.91
(0.48)
1.06
22.49

24.37
0.57
0.81
25.75

22.95
0.51
0.65
24.11

38.55
3.72
0.25
42.52

39.07
0.99
40.06

35.41

46.02

133.40

54.21

86.05

82.74

21%

30%

190%

-59%

59%

-4%

(Figures in Crores)
Mar'2012

CAGR (%)

Mar' 2013 (Est)

951.32
13.6%
(66.98)

17.85%

1,094.01

9.44%

(88.58)

884.34

18.74%

1,005.43

34.11
918.45

16.64%
18.66%

43.76
1,049.19

310.02
74.74
(10.56)
274.22
96.61
3.18
21.44
0.62

20.04%
28.28%
6.81%
16.49%
13.84%
48.46%
17.97%
-4.41%

350.08
87.52
5.47
306.32
109.40
3.66
27.35
1.09

770.26

18.57%

890.90

148.19

158.29

148.19

19.46%

43.63
1.72
45.35

16.81%

18.91%

50.29

102.84

19.72%

108.00

24%

158.29

5%

Dec'2004

Dec' 2005

Sales Growth (YoY)

18.4%

19.6%

Excise Duty to Sales (%)

11.8%

11.8%

3.9%

3.1%

Raw Materials Consumed to Sales (%)


Cost of Purchase of Finished Goods for Trade
(Increase) / Decrease in Stock to Sales (%)
Manufacturing, Administration & Selling Expense to Sales
Employee Expenses to Sales (%)
Finance Cost to Sales
Depreciation to Sales (%)
Doubtful Debt Provision/Written Off (or Written Back) to Sales (%)

28.6%
4.3%
2.2%
31.3%
12.9%
0.1%
2.2%
0.3%

29.0%
4.3%
0.6%
29.2%
11.1%
0.0%
2.1%
0.0%

Total Expenditure to Sales (%)

77.6%

76.4%

Profit Before Tax (PBT) to Sales (%)

14.2%

14.9%

Effective Rate of Tax

31.6%

33.9%

9.7%

9.8%

69.2%
17.0%

66.2%
17.0%

Other Income to Sales (%)

Profit After Tax to Sales (%)

Gross Margin (Gross Profit/Gross Sales)


EBITDA Margin (EBITDA/Gross Sales)

Dec' 2006

Dec' 2007

Dec' 2008

Mar' 2010

Mar' 2011

Mar'2012

16.9%

18.0%

11.7%

34.2%

12.4%

13.6%

11.5%

11.3%

9.6%

5.7%

6.8%

7.0%

3.1%

4.3%

3.7%

3.1%

3.2%

3.6%

28.0%
7.4%
1.3%
28.3%
10.6%
0.0%
2.2%
0.2%

31.8%
6.3%
3.0%
27.7%
11.1%
0.1%
2.5%
0.1%

34.1%
6.8%
2.6%
28.1%
11.1%
0.1%
2.5%
-0.1%

31.4%
7.0%
0.9%
26.4%
12.2%
0.3%
2.9%
0.0%

33.1%
8.1%
2.2%
29.7%
10.1%
0.4%
2.5%
0.1%

32.6%
7.9%
1.1%
28.8%
10.2%
0.3%
2.3%
0.1%

75.4%

76.5%

80.0%

81.2%

81.8%

81.0%

16.3%

32.0%

14.1%

17.3%

14.7%

15.6%

32.8%

16.2%

30.8%

33.1%

32.6%

30.6%

10.9%

26.8%

9.8%

11.6%

9.9%

10.8%

65.9%
18.7%

65.0%
19.2%

61.8%
16.6%

60.7%
19.5%

61.0%
17.6%

60.7%
18.2%

Mar' 2013 (Est)


15.0%
8.1%

4.0%

32.0%
8.0%
0.5%
28.0%
10.0%
0.3%
2.5%
0.1%
81.4%

14.5%

31.8%
9.9%

59.5%
17.4%

Particulars
Sources of Funds:
Shareholders Funds
Share Capital
Reserves & Surplus
Total
Minority Interest
Loan Funds:
Secured Loans
Unsecured Loans
Long-Term Provisions
Total
Deffered Tax liability (Net)
Current Liabilities And Provisions
Current Liabilities
Provisions
Total
Total
Application of Funds:
Fixed Assets
Gross Block
Less: Depreciation
Net Block
Work-in-Progress
Capital Work in Progress
Investments
Current Assets
Inventories
Sundry Debtors
Cash and Bank Balances
Short Term Loans And Advances
Other Current Assets
Total

Dec'2004

Dec' 2005

13.84
142.87
156.71

13.84
160.72
174.56

1.39

0.61

1.39

0.61

3.73

3.77

53.69
24.74
78.43

55.75
32.06
87.81

240.26

266.75

132.17
(66.06)
66.11

143.24
(72.06)
71.19

2.74

2.69

73.97

76.77

40.92
38.73
5.86
11.47

41.67
47.71
10.11
16.58

96.99

116.06

Long Term Loans And Advances


Total

239.80

266.72

Dec' 2006

Dec' 2007

27.68
170.63
198.31

Dec' 2008

Mar' 2010

(Figures in Crores)
Mar'2012

Mar' 2011

27.68
252.05
279.73

27.68
280.29
307.97

27.68
327.71
355.39

27.68
372.55
400.23

27.68
433.51
461.19

1.31

5.29

6.38

5.90

5.78

2.27

2.27

16.47
-

26.11
-

2.27

2.27

16.47

26.11

18.26
4.65
15.56
38.47

15.56
5.81
15.23
36.60

3.29

3.86

4.37

8.08

9.08

10.80

74.76
38.29
113.04

103.71
46.04
149.75

102.98
42.54
145.52

116.19
48.74
164.93

133.01
39.80
172.81

183.42
45.38
228.80

316.91

436.92

479.61

560.89

626.49

743.18

199.35
(80.48)
118.88

225.74
(88.86)
136.89

258.55
(100.50)
158.05

343.28
(117.54)
225.74

364.58
(137.91)
226.67

390.40
(157.99)
232.41

7.01

20.99

62.37

7.73

12.61

84.54

52.65

78.01

50.32

34.26

27.76

28.50

49.88
61.32
10.20
16.92

70.21
82.19
21.82
26.69
0.13
201.04

100.84
67.87
17.20
22.76
0.21
208.87

97.89
84.99
82.03
28.00
0.25
293.16

131.50
91.32
94.79
17.07
13.42
348.10

165.91
95.46
73.23
27.27
7.09
368.96

138.32

316.86

436.92

479.61

560.89

11.36

28.77

626.49

743.18

ures in Crores)
CAGR (%)

10.41%
17.18%
16.67%

22.64%
59.53%
16.42%

19.19%
9.05%
16.53%
17.51%
#DIV/0!

16.73%
13.27%
19.67%

63.25%
-12.74%

22.14%
13.75%
43.44%
13.17%
21.03%

Cash Inflow
Net Cash flow from Operating Activities
Sale of Fixed Assets
Sale of Investments
Proceeds from Loans
Dividend from Investments
Interest Received
Inter Corporate Deposit Redeemed
Proceeds from Sale of Lincoln Helios (India) Limited (Net fo Tax)
Payment From Minority interest
Total
Cash Outflow
Purchase of Fixed assets
Purchase of Investments
Repayment of Loans
Inter Corporate Deposit Placed
Margin Money & Others
Interest Paid
Dividend paid
Corporate Dividend Tax
Purchase of Bonded Abrasives Business of Orient Abrasives Ltd.
Total

Net Change in Cash, Bank Balances & Equivalents

Dec'2004

Dec' 2005

Dec' 2006

Dec' 2007

29.92
0.25
15.37
1.76
1.39
###
48.69

31.38
1.14
10.42
3.11
1.48
47.53

44.92
0.72
5.98
2.12
4.20
0.83
11.00
-

12.77
5.50
1.54
###
0.73
9.26
1.15
30.96

17.73

Dec' 2008

69.78

27.14
0.55
1.83
1.63
6.87
0.70
5.50
83.20
1.32
128.73

43.89
0.66
20.83
16.30
2.44
1.11
2.00
4.08
91.31

13.65
6.00
0.78
0.13
13.76
1.96
36.28

41.80
8.00
0.15
15.24
2.14
21.00
88.32

46.79
20.00
5.50
0.29
30.68
6.48
109.74

65.47
0.52
2.00
0.61
32.78
3.76
105.15

11.25

(18.54)

18.99

(13.83)

Mar' 2010

(Figures in Crores)
Mar'2012

Mar' 2011
103.57
0.36
1.36
9.64
2.31
1.09
1.40
119.73

83.06
0.26
1.49
3.62
0.81
0.40
89.65

118.68
0.03
8.64
###
4.05
1.45
###
###
132.85

41.60
6.01
2.51
22.09
3.76
75.97

29.03
3.00
2.83
3.42
33.13
5.52
76.92

109.77
0.74
2.14
###
0.26
3.18
33.22
5.39
###
154.69

43.77

12.72

(21.83)

I) Sales (Net)
Geographical
Domestic
Export

II) Class of Goods


1. Bonded Abrasives
Realization Per Ton (INR/Ton)
2. Coated Abrasives
Realization Per Square Metre (INR/Square Metre)
3. Abrasive Grains
Realization Per Ton (INR/Ton)
4. Refractories
Realization Per Unit (INR/Unit)
5. Others
III) Raw Material Procurement
Imported Raw Materials
Indegeniously Obtained Raw Materials
Imported Spares & Stores
Indegniously Obtained Spares & Stores
IV) Raw Materials & Components Consumed
1. Abrasive Grains
Cost Per Ton
2. Carbon Materials
Cost Per Ton
3. Others

Units
Tons
Square Metres
Tons
Tons

INR Crores
INR Crores
INR Crores
INR Crores

Tons
Tons

V) Current Ratios
Inventory Turnover
Inventory Days

Days

Debtors Turnover
Debtor Days

Days

Creditors Turnover
Creditors Days

Days

Dec'2004

Dec' 2005
238.45
27.28

Dec'2004

Dec' 2006
284.78
33.10

Dec' 2005

136.78
168,448.94
87.50
453.35
37.82
67,220.44
16.13
109,666.63
23.13
Dec'2004

Dec' 2005

Dec'2004

332.23
40.69

Dec' 2006

142.27
173,024.42
110.72
372.80
43.08
67,829.54
20.74
132,178.63
43.68

40.19
56.71
0.09
6.58

Dec' 2007

Dec' 2007

159.70
181,036.63
131.31
402.78
49.53
67,140.71
20.60
123,363.79
60.14
Dec' 2006

43.45
74.25
0.15
6.78
Dec' 2005

396.25
44.58

198.77
175,726.58
146.43
456.17
56.09
61,631.42
26.69
138,174.76
69.03
Dec' 2007

59.77
72.50
0.25
7.65
Dec' 2006

83.54
89.03
0.21
10.68
Dec' 2007

44.66
40,937.51
6.32
5,971.47
45.92

37.78
37,286.69
5.58
4,695.44
74.34

41.40
39,249.17
5.42
4,295.35
85.45

52.73
37,668.18
6.59
5,944.51
113.26

2.60
141

2.95
124

3.14
116

2.90
126

6.71
54

7.36
50

6.84
53

6.14
59

1.91
192

2.23
164

2.20
166

1.95
187

Dec' 2008

Mar' 2010
433.87
68.25

Dec' 2008

Mar' 2011
624.12
78.24

Mar' 2010

204.08
185,967.38
151.75
487.93
80.91
80,358.64
29.98
136,202.78
88.81
Dec' 2008

Mar' 2010

Dec' 2008

708.95
71.79

813.96
70.37

Mar' 2011

282.53
217,848.26
208.98
592.00
105.62
75,793.93
35.71
154,262.92
112.19

102.82
103.19
0.14
12.29

Mar' 2012

Mar' 2012
318.83
N/A
228,763.96
238.18
N/A
630.10
108.33
N/A
81,584.51
49.73
N/A
161,170.11
122.55
N/A

Mar' 2011
136.97
140.00
0.33
16.04

Mar' 2010

Mar' 2012
182.48
143.82
0.31
19.59

Mar' 2011

231.96
136.94
0.35
21.73
Mar' 2012

65.03
47,676.93
9.37
7,248.09
131.61

87.83
57,698.79
8.66
5,760.69
180.48

97.73
60,155.17
8.67
7,856.46
219.90

101.52

2.48
147

2.95
124

2.85
128

2.52
145

6.69
55

9.19
40

8.86
41

9.47
39

2.05
178

2.67
137

2.62
139

2.37
154

N/A
8.82
N/A
258.56

CAGR (%)
19.17%
14.50%