Column1 Column2 Column3 Column4

Standalone Profit & Loss account ------------------- in Rs. Cr. -------------------

Mar 19 Mar-18 Mar-17

12 mths 12 mths 12 mths

INCOME
Revenue From Operations [Gross] 1,078.14 873.44 751.75
Less: Excise/Sevice Tax/Other Levies 0 18.93 79.32
Revenue From Operations [Net] 1,078.14 854.51 672.43
Other Operating Revenues 42.62 4.45 1.38
Total Operating Revenues 1,120.76 858.96 673.81
Other Income 1.87 6.11 5.64
Total Revenue 1,122.63 865.07 679.45
EXPENSES
Cost Of Materials Consumed 799.26 488.9 364.22
Purchase Of Stock-In Trade 34.88 0 0
Changes In Inventories Of FG,WIP And Stock-In Trade -162.43 -19.22 -11.65
Employee Benefit Expenses 51.3 46.73 39.8
Finance Costs 23.66 21.43 28.28
Depreciation And Amortisation Expenses 23.92 21.51 18.07
Other Expenses 329.9 280.62 221.6
Total Expenses 1,100.49 839.97 660.32

Profit/Loss Before Exceptional, ExtraOrdinary Items And Tax 22.14 25.1 19.13
Profit/Loss Before Tax 22.14 25.1 19.13
Tax Expenses-Continued Operations
Current Tax 5.11 5.85 4
Less: MAT Credit Entitlement 0 0 3.94
Deferred Tax -4.4 -5.79 0
Other Direct Taxes 0 0 0
Tax For Earlier Years -0.77 0 -0.07
Total Tax Expenses -0.07 0.06 0
Profit/Loss After Tax And Before ExtraOrdinary Items 22.21 25.04 19.14
Profit/Loss From Continuing Operations 22.21 25.04 19.14
Profit/Loss For The Period 22.21 25.04 19.14

Column1 Column2 Column3 Column4

Standalone Balance Sheet ------------------- in Rs. Cr. -------------------
Mar 19 Mar-18 Mar-17
 12 mths 12 mths 12 mths

EQUITIES AND LIABILITIES

SHAREHOLDER'S FUNDS
Equity Share Capital 35.76 35.7 18.56
Total Share Capital 35.76 35.7 18.56
Reserves and Surplus 326.23 303.62 179.53
Total Reserves and Surplus 326.23 303.62 179.53
Total Shareholders Funds 361.99 339.32 198.08
NON-CURRENT LIABILITIES
Long Term Borrowings 135.13 101.46 115.46
Other Long Term Liabilities 0.39 0.03 0.2
Long Term Provisions 1.01 0.85 0.8
Total Non-Current Liabilities 136.53 102.33 116.46
CURRENT LIABILITIES
Short Term Borrowings 186.82 118.5 138.71
Trade Payables 163.5 60.61 34.91
Other Current Liabilities 39.97 55.27 124.25
Short Term Provisions 0.53 0.63 0.27
Total Current Liabilities 390.81 235 298.14
Total Capital And Liabilities 889.33 676.65 612.67
ASSETS
NON-CURRENT ASSETS
Tangible Assets 279.53 249.27 264.18
Intangible Assets 0.3 0.29 0.39
Capital Work-In-Progress 32.57 6.99 1.11
Fixed Assets 312.39 256.55 265.68
Non-Current Investments 0 0 0.68
Deferred Tax Assets [Net] 16.35 9.73 0
Long Term Loans And Advances 0.69 1.42 0.46
Other Non-Current Assets 14.07 20.86 10.77
Total Non-Current Assets 343.51 288.57 277.6
CURRENT ASSETS
Current Investments 0.01 8.16 0.31
Inventories 313.22 158.6 117.83
Trade Receivables 187.26 194.55 188.97
Cash And Cash Equivalents 0.28 7.49 5.95
Short Term Loans And Advances 1.03 1.02 0.7
OtherCurrentAssets 44.02 18.27 21.33
Total Current Assets 545.82 388.09 335.08
Total Assets 889.33 676.65 612.67
Particulars (RS in Cr)
Gross working capital 545.82

Net working capital

(Current asset - current liabilities) 155.01

Particulars Rs(in Cr)

Cost of goods sold 517.09
Average Inventory 235.91
Average accounts receivable 288.18
Receivables turnover
Credit Sales / Average Accounts Receivable 3.741
Cost of goods sold per day 1.42

Note:
Since credit sale is not given whole sales is considered as credit*

Particulars Rs(in Cr)

Inventory turnover Analysis:
Cost of goods sold/Average Inventory 2.192
Accounts Receivable Period(DSO) The operating cycle
receive cash from c
365 / Receivables Turnover 98
gross operating cycl
Inventory turnover Period industry itself and  
365/Inventory turnover 167
Operating cycle The working capital
Days of sales of inventory+days of sales outstanding 264 when needed. The
Operating Cycle is 264 days

Cash Conversion Cycle = (Days of Sales Outstanding (DSO) + Days

of Inventory Outstanding (DIO) - Days of Payables
Outstanding(DPO) )

Particulars Rs(in Cr)

Days of sales outstanding
Average receivables/revenue/365 98
Days of inventory outstanding
Average inventory/cost of goods sold/365 167
Days of of payables outstanding
Trade payables/ cost of good sold per day 115
Cash conversion cycle 149
Cash conversion cycle is 149 Days
 FIGURE

Receipt of inputs Sale/Delivery of goods

Days inventory held

(98 days)
DSO
DPO
(115 days)

(149 days)
…..Cash Conversion Cycle…….
Payment to supplier

Analysis:
The operating cycle is the average period of time required for a business to make an initial outlay of cash to produce goods, s
receive cash from customers in exchange for the goods, the operating cycle of this company is 264 days which shows that it i
gross operating cycle is highest with Essar steel ltd 92.36 days followed by SAIL i.e 88.38 and Jindal steel i.e 69.50 days which
industry itself and  it takes longer time for the company to turn purchases into cash through sales.

The working capital is positive. Also the cash conversion is longer in this company , the company will be less likely to obtain m
when needed. The number of days inventory kept is also long for this company.
 Collecting accounts receivable

Receipt of payment

ash to produce goods, sell the goods, and

ys which shows that it it long as Average
eel i.e 69.50 days which is from the same

be less likely to obtain more credit period