APPARATUS USED FOR SPINNING AND WEAVING DURING

PRE-INDEPENDENCE PERIOD

Before Independence we talk of the political leaders like Mahatma Gandhi, who had
always insisted to use Khadi Clothes and even self-spinning and weaving. It is also
called as self-dependence for all needs. Such a good initiatives had come-up at India
level amongst the followers of the Leader – Mahatma Gandhi. On the other side too such
initiatives had been proved very good and had attracted many other western countries to
follow such practices and show their excitedness. Though in case we talk of the English
rule before the Independence i.e. 1947, it was not appreciated by the English Rulers, but
after the freedom these leaders had got very good appreciation particularly for the self
spinning and weaving and in an overall manner this sector of Spinning and Weaving was
industrialized even after the independence too on the basis of Indian cotton growers.
It is needless to mention here that through out India, cotton growers belts are available
and after independence even English people take their raw material from here and had
established themselves with the Spinning and Weaving industries. Overall In India no
such preferences for the Spinning and Weaving industries were made, however the
Library research reveals that the first Cotton mill had been established in India during
1854 named as Bombay Spinning and Weaving company. Though the Cotton industry
had progressed a lot, but in case we say that India alone is heading this world, it is wrong.
Though in India Textile Machine manufacturers are there and one or two decades ago
they were the market leaders, but with the help of the other parts/people of world i.e.
Germany, Switzerland etc., India had made a very good recognition in the yarn market.

Because Indian Industrial Organizations have also initiated towards the most modernized
machinery produced by Schlafhorsts – Germany, Luwa – Humidification systems,
Switzerland. This is just the example of the development, that in India too the most
modern machinery is being installed. However, it is an evident that the Indian yarn is
always running on the development trend since its Inception of first unit in Bombay, but
its position in the international market has not appeared so good. Because many other
countries like China as Cotton Textiles has went ahead. Though till today India has
achieved a lot in the Textile Industry and almost 700 Textile units are working
successfully, because India is having at present more than 20 Million spindles and a
weaving capacity of more than 2.5 Lac looms and the total output value of the same is
around Rs.1500 Cores, employing more than 10 Lac of workers directly.

The invention and production of man made thirty three fibers that is synthetic fibers like
Nylon, Acrylic fibers, Polyester Fiber, Viscose, Filament yarns, Melange yarn, etc.,
which ultimately had given a good blow to grow for the Cotton Textile Industry and
know occupy a major part of consumer acceptance. About 50 countries have been
importing such material from India and the description of the Spinning and weaving
industry had remained incomplete without referring to the woolen industry.
 Chapter- 3

PROFILE OF THE GROUP AND UNIT

 PROFILE OF THE GROUP AND UNIT

The industrial city- Ludhiana nestles the corporate Headquarters of the Oswal Group of
industries. The Oswal Empire comprises of Anshupati Textiles Limited situated in
Ludhiana, Vardhman Polytex Limited situated in Bathinda, Vinayak Textile Mills
situated in Ludhiana. Oswal group is earning laurels by exporting yarn of international
quality to several countries and VPL Bathinda is an ISO 9001-2000 certified company
and VTM is granting authorization to use the Trademark USTERIZED “USTER” think
quality.

BACK DROP:

OSWAL GROUP is a premier of textile group of northern India having its corporate
office situated at Ludhiana, Punjab,(India). The organization has existence for last 40
year in core competency of spinning. We were earlier part of the Vardhman Group.but
after settlement between two brother in 2003, we have named ourselves as Oswal Group
has mainly into Spinning and Dyeing of all type of Yarn in different manufacturing of
Garments. The group has ambitious plan to diversify in future but in textiles related
activities

Oswal Group will achieve a turnover of Rs.500 crores by strengthening its core
competencies and capacities in Textile and diversified business to create value for its
stakeholders.(USD 110 millions).

The group has very good potential and high presence in the textiles industry with well set
manufacturing set up for 100% cotton, Polyester cotton, Worsted Spun Yarn ,Dyed Yarn,
and other blended yarns. All the group units have state of the art technology imported
from machinery giant in Europe, Japan, China and many other countries. To ensure
quality commitment to its valuable customers, the R&D department is well equipped with
latest R&D equipments. Continuous efforts are always being made to further improve the
quality and match the industry standard to meet the actual requirements of its quality
conscious customers.

COMPANY STRUCTURE

OSWAL
GROUP

ANSHUPA
TI
LUDHIANA
VPL VTM
BATHIND LUDHIAN
A A
Anshupati Textiles Limited, based at Ludhiana in Punjab, the worsted spinning units in
the Indian subcontinent with 8000 worsted spindles installed, manufactures the Machine
Knitting Yarn, Mink Yarn and Fancy yarn, with vast product range, to meet every sort of
count combination demand of its prospective customers. The quality yarn in this unit is
manufactured using state of art technology imported from Europe, which is fully backed
with ultra modern R&D equipment for consistent quality. The yarn manufactured from
this unit holds a very strong reputation and demand both in domestic and international
market. The present capacity in terms of production is approximately 6.5 ton/Day

Vardhman Polytex Limited, a unit based at Bathinda in Punjab with 105000 cotton
spindles installed, is manufacturing 100% cotton yarn, Polyster cotton yarn and Tyre cord
yarn with vast range of count selection varies from NE 10 to 40 both in carded and
combed varieties. To ensure quality to its customers the group has received the ISO-
9001-2000 certification. This unit is exporting its product to Mauritius, Hong Kong,
Singapore, Egypt, Turkey, Bangladesh, China, Taiwan etc. The company keeps on
receiving repeat orders, which shows the level of confidence, bestowed by its customers
into it. The company had been awarded the Export House status by the Government of
India. The present capacity in term of production is around 65 Tons /day. They are also
thinking of producing Value added that is (i) Slub yarn (ii) Lyera yarn.

Vinayak Textile Mills, a unit at Ludhiana in Punjab with 50000 cotton spindles installed,
is manufacturing 100% cotton yarn and Polyster yarn with vast range of count selection
varies from NE 10s to 40s both in carded and combed varieties. The present capacity in
term of production is around 29Tons /Day and 14 -mt dyeing /day.

CURRENT SET UP:

Presently the Company has its corporate office situated at Chandigarh Road, village
Mundian, Ludhiana and works at Bathinda &Ludhiana. The day to day operations are
looked after by qualified technocrats/professional at plant/work as well as at corporate
office having rich experience in their respective fields of management.
Ashok Oswal himself a Law Graduate has been looking after the textile business in this
company since 1987. Uptill family settlement, he was actively associated with the
business management of Vardhman group.

PRESENT CAPACITIES
Presently the group has following production capacity and product range at its different
manufacturing facilities.

Location Installed Production Product Range

Capacity Capacity
(spindles)
Bathinda (existing ) 105000 65Tons / Day Cotton, synthetic,
(VPL) blended yarn
Ludhiana 8000 6.5 Tons/Day Acrylic Yarn
(Anshupati Textile)
Ludhiana (VTM) 50000 29 Tons/Day 100%cotton
14-MT yarn,Polyester/
dyeing/Day Cottonblended

COMPUTERISATION

Presently the unit is operating under “SAP system”. This system is well structured
keeping in view the present tax regime like VAT, SERVICE TAX, and TDS etc. The
system is functioning to online to finance, raw material, stores and commercial. All the
stauratory returns are generated online from the system.
Personal computers have also been provided separately for each department like
administration, costing, R&D, Maintenance as well as the production areas.

USTERIZED CERTIFICATION
The unit had been awarded USTER certificate by Uster technologies AG CH-8610 Uster/
Switzerland on April 10, 2007. M/S Vinayak Textile mills, Ludhiana / India fulfil all
conditions for using the brand USTERIZED and will be checked regularly at once per
year basis.
PRODUCTION
The unit is producing different types of yarn both for Domestic consumption and Export
purpose. The production department is headed by General Manager (G.M.). The VTM
has two units. The unit I is concerned with the production of 100% cotton yarn NE 10s-
40s, Carded & Combed, Single & Multifold, Dyed , Processed & Polyester yarn NE 10s-
40s, Carded & Combed with a capability to offer any blend. The unit-II expansion is
concerned with production of Worsted Spun yarn 100% Cotton. .Production capacity of
unit –I is 15 ton per day and unit-II is 13 tons per day.

MARKETING
For Marketing of different product, the unit is having a modern marketing department
headed by experienced team which covers all the activities for conversion of finished
goods into cash. It keeps vigil on the market feed-back on the level competition, market,
trend, changing customer needs and modifications. The marketing department deals with
domestic sales, while export department of the group manages export sales. The VTM.
having the export and domestic ratio is 34:66. The unit is having different channels for
distribution of its products.
1. Selling agents at Ludhiana, Amritsar, Delhi, Mumbai and Tirupur.
2. Branches at Delhi and Ludhiana.
3. Direct Dispatches are also made by the units.

ORGNISATION STRUCTURE
A chart showing the organizational structure of VTM Ludhiana is given on the next page.
It shows the various hierarchical levels of the organization. It is a department line
organization which is divided into various department headed by their respective
department heads. All departments operate under the ultimate control of Chief Executive
Sh. Ashok Goyal. The orders flow directly from unit head to different departmental heads
down the line to respective department subordinates.
 Manufacturing Process Flow Chart of VPL
100% COTTON CARDED/COMBED YARN

Issue of Cotton Bales

Laying Down

Blow Room

Card

Breaker Draw Frame Unilap

Finisher Draw Frame Comber

Speed Frame

Ring Frame

Winding

Cheese Winding

T.F.O

Conditioning Conditioning

Packing for Single Yarn Packing for Double Yarn

Storage & Dispatch

MANUFACTURING PROCESS IN VINAYAK TEXTILE MILLS
LIMITED, LUDHIANA

Raw cotton is used as a basic raw material for producing 100% cotton yarn for ring spun.
1. MIXING
The different varieties of cotton are issued as per product mix from the raw material
section in bale from. The different varieties of cotton and different lots are mixed together
as per the requirement of end product and standard recommended mixings. The material
is conditioned in mixing for 24 hours.
2. BLOW ROOM
In this process, the cleaning and opening of fibers is done in a sequence of beaters. Main
purpose is to reduce tuft size, remove the trash particles and foreign matter etc, which
often comes in the bales.
3. CARDING
In this process, further cleaning of fibers is done and the fibers are opened into single
fibers extent i.e. the main purpose is further removal of trash in cotton and the
industrialization and parallelization of fibers. From the carding machine, the material is
delivered in the form of sliver.
4. DRAW FRAME
The purpose of this process is to reduce the wt/yard in the card sliver 6 to 8 end of card
slivers are doubled together in this process to reduce variations and further drafting is
done to reduce the wt/yard of delivered sliver. Two passages are given at the draw frame
stage.
In case of combed counts, the card sliver is fed to the precombing draw frame. The
purpose of combing draw frame is to reduce the wt/yard variations in the card sliver and
to parallelize the fibers. Singles passage is given at the precombing stage.
5. LAP FORMER
20-25 precombed draw slivers are fed together to produce a lap sheets of fibers, which is
wound on the spools.
6. COMBERS
The laps prepared on lap former are fed to combers. The main purpose of combing
process is to remove the short fibers from the material in the form of noil. The average
noil percentage caries from 15% to 18%. The material is delivered in the form of sliver.
7. SPEED FRAME
The finisher draw frame sliver is fed to the speed frames for conversion into the roving
form. In this process the wt/yard of the sliver is reduced, slight twist is given to the fleece
and the material delivered in the form of roving, wound on the plastic bobbins.
8. RING FRAME
The roving is fed to ring frame for conversion into yarn. In the process, the weight / yd of
roving is reduced as per requirement of ultimate user and the delivered yarn is wound on
the plastic bobbins.
9. WINDING
In this process, the yarn is wound on paper cones to produce bigger package, as per
requirement of the market. The weight / package varies from 1.2 kilogram to 2.1
kilogram. During the process, in addition to the formation of bigger packages, the yarn
faults are also removed with help of electronic yarn cleaner.
10. DOUBLING
In the case of type cord the process is same upto cone winding. After cone winding the
yarn is fed into Cheese Winding. In the process 2 ply or 4 ply is to be done as per
requirement. After the yarn is fed into ring doubling and required T.P.I. is given in 2 ply
or 4 ply yarn. In the next process in assembly cheese winding is get the package in the
package in the required from to be fed into T.F.O. in T.F.O. final yarn is prepared in the
form of cheese and required T.P.I. is given to the final yarn in process.
11. PACKING
In this process, the cones / cheese are packed in bags or cartoons as per the requirement
of the market. In addition to the packing the material is checked thoroughly to avoid
mixing of different materials
 Chapter- 4

OUTLINE OF THE STUDY

 OUTLINE OF THE STUDY

The management of working capital is very important. It involves the study of day to day
affairs of the company. The motive behind the study is to develop an understanding about
the working capital management in the running business organization and to help the
company in developing the efficient working capital management. So it helps in future
planning and control decisions.

OBJECTIVES OF THE STUDY

The objectives of the study are as follows:
 To analyze the working capital management of the company.
 To determine the operating cycle of the unit.
 To know the future need of working capital in the running organization.
 To render recommendations for the effective management of working capital.

SCOPE OF THE STUDY

The study is conducted at “VTM –LUDHIANA” for 6 weeks duration. The study of W.C.
management is purely based on secondary data and all the information is available within
the company itself in the form of records. To get proper understanding of this concept, I
have done the study of the balance sheets, profit and loss a/c’s, cash accounts, trial
balance, cost sheets. I have also conducted the interviews with employees of accounts and
finance department and stores department. So, scope of the study is limited up to the
availability of official records and information provided by the employees. The study is
supposed to be related to the period of last four years.
 RESEARCH METHODOLOGY

 To recognize the various type of information which are necessary for the study of
working capital management.
 Collection of data from various department of VTM to analyze the working
capital management of VTM.
 For understanding the various reports, personal interviews are conducted.
 With the help of various techniques like:
 - Operating Cycle analysis
- Ratio Analysis
- Common size statement
- Schedule of changes in working capital
The overall position of VTM is studied and analyzed
 Suggestions are given on the basis of findings for better understanding of working
capital management.

SOURCES OF INFORMATION
 Primary Data – The personal interview with senior officials and various members
of finance and accounts department and also with other departments and collected
the data.
 Secondary Data – All the details necessary for the study was available within the
company itself.

LIMITATIONS OF THE STUDY

 As central purchase office purchase raw material and central marketing yarn make
sales. So more detailed information cannot be received about these.
 Cash from debtors are collected by the corporate office through commission
agents. So efforts for collection of debtors cannot be clearly known from VTM
Ludhiana.
 Investment of funds are also made by corporate office, so it becomes difficult to
know that how much investment is made in different ways for continuous
availability of funds.
 Chapter- 5

WORKING CAPITAL ANALYSIS

 WORKING CAPITAL ANALYSIS

1.OPERATING CYCLE ANALYSIS

Operating cycle refers to the time period which starts from the raw material purchases
and ends with realization of receivable. So it is total time gap between raw material
purchases to total debtors’ collection. This is also known as working capital cycle.
Operating cycle is therefore expressed in terms of months or weeks or days. The higher
the operating cycle period, higher the working capital requirement. It comprises of raw
material conversion period, WIP conversion period, FG conversion period and debtors’
conversion period and creditors period. The basic reason for calculating operating cycle is
to find out the means for reducing the duration of operating cycle because if duration of
operating cycle will be less than working capital requirement will be less.
OC = R + W + F + D – C
Where,
R = raw material conversion period
W = work in process period
F = finished goods conversion period
D = debtor collection period
C = creditors payment period

(1) Raw Material Conversion Period (RMCP)

= Average Raw Material Stock X 360
 Raw Materials consumed during the year

FOR SPINNING MILL:

PARTICULARS 2004-05 2005-06 2006-07 2007-08
Average raw
material stock 183071228.14 227150926.07 218046754.94 328005499.45
Raw material
consumed 385430133.40 309974487.22 410666073.76 495453061.76
during the year
RMCP 169.2 DAYS 263.8 DAYS 191.1 DAYS 238.3 DAYS

300

250

200

150
RMCP
100

50

0
2004-05 2005-06 2006-07 2007-08

FOR DYE HOUSE:

PARTICULARS 2004-05 2005-06 2006-07 2007-08
Average raw
material stock - 15012815.54 16023458.66 11108879.34
Raw material
consumed - 122961363.25 263718304.68 338194022.33
during the year
RMCP - 43.9 DAYS 21.9 DAYS 11.8 DAYS
45
40
35
30
25
20 RMCP
15
10
5
0
2004-05 2005-06 2006-07 2007-08

(2) Work in Progress Conversion Period (WIPCP)

= Average stock in progress X 360
Cost of Production

FOR SPINNING MILL:

PARTICULARS 2004-05 2005-06 2006-07 2007-08
Average stock in
progress 4046698.00 3388006 6406842 8595640.40
Cost of
production 500317045.88 426414576.75 608858271.37 751824244.94
WICP 2.91 DAYS 2.9 DAYS 3.8 DAYS 4.1 DAYS
 4.5
4
3.5
3
2.5
2 WICP
1.5
1
0.5
0
2004-05 2005-06 2006-07 2007-08

FOR DYE HOUSE:

PARTICULARS 2004-05 2005-06 2006-07 2007-08
Average stock in
progress 1021072 5791673 6692336 4917031.00
Cost of
production 25254802.19 219005634.76 404498734.7 524670967.58
WICP 14.6 DAYS 9.5 DAYS 5.9 DAYS 3.4 DAYS

16
14
12
10
8
WICP
6
4
2
0
2004-05 2005-06 2006-07 2007-08

(3) Finished Goods Conversion Period (FGCP)

 = Average Finished good inventory
X
X 360
360
Cost of goods sold

FOR SPINNING MILL:

PARTICULARS 2004-05 2005-06 2006-07 2007-08
Average
finished goods 18939831.18 9473270 12545845 39817039.68
inventory
Cost of goods
sold 500317045.88 426414576.75 751824244.94
608858271.37
FGCP 13.6 DAYS 7.9 DAYS 7.4 DAYS 19.1 DAYS

20

15

10
FGCP

0
2004-05 2005-06 2006-07 2007-08

FOR DYE HOUSE:

PARTICULARS 2004-05 2005-06 2006-07 2007-08
Average - 5857416 6745966 10034498
finished goods
inventory
Cost of goods - 219005634.76 404498734.7 524670967.58
sold
FGCP - 9.6 DAYS 6 DAYS 6.9 DAYS
 10

6
FGCP
4

0
2004-05 2005-06 2006-07 2007-08

(4) Debtors’ Conversion Period (DCP)

= Average Debtors X 360
Credit Sales

FOR SPINNING MILL :

PARTICULARS 2004-05 2005-06 2006-07 2007-08
Average debtors 37279070.84 37279070.84 92312638.13 29970369.49
Credit sales 596069587.62 543167006.35 588183650.23 730047747.60

DCP 22.4 DAYS 24.7 DAYS 56.5 DAYS 14.8 DAYS

60

50

40

30
DCP
20

10

0
2004-05 2005-06 2006-07 2007-08
FOR DYE HOUSE:
PARTICULARS 2004-05 2005-06 2006-07 2007-08
Average debtors 247769 28959455.84 48904270.97 99301521.09
Credit sales 212240 202379449.81 492529652.69 610863493.76

DCP 420.3 DAYS 51.5 DAYS 35.7 DAYS 58.5 DAYS

450
400
350
300
250
200 DCP
150
100
50
0
2004-05 2005-06 2006-07 2007-08

(5) Credit Conversion Period (CCP)

= Average Creditors
X 360
Credit Purchases

FOR SPINNING MILL:

PARTICULARS 2004-05 2005-06 2006-07 2007-08
Average creditors 4316518.31 5840979.88 5294945.83 23709393.26

Credit purchases 385430133.40 309974487.22 410666073.76 495453061.76

CCP 4.03 DAYS 6.8 DAYS 4.6 DAYS 1.7 DAYS

 7
6
5
4
3 CCP

2
1
0
2004-05 2005-06 2006-07 2007-08

FOR DYE HOUSE:

16
14
12
10
8
CCP
6
4
2
0
2004-05 2005-06 2006-07 2007-08

PARTICULARS 2004-05 2005-06 2006-07 2007-08

Average creditors - 5449322.89 1203818.69 1767614.89

Credit purchases - 122961363.25 263718304.68 338194022.33

CCP - 15.9 DAYS 1.6 DAYS 1.9 DAYS

GROSS OPERATING CYCLE FOR SPINNING MILL:
YEAR RMCP WICP FGCP DCP GOC
2004-05 169.2 DAYS 2.91 DAYS 13.6 DAYS 22.4 DAYS 208.1 DAYS
2005-06 263.8 DAYS 2.9 DAYS 7.9 DAYS 24.7 DAYS 299.3 DAYS
2006-07 191.1 DAYS 3.8 DAYS 7.4 DAYS 56.5 DAYS 258.8 DAYS
2007-08 238.3 DAYS 4.1 DAYS 19.1 DAYS 14.8 DAYS 276.3 DAYS

300

250

200

150
GOC
100

50

0
2004-05 2005-06 2006-07 2007-08

NET OPERATING CYCLE FOR SPINNING MILL:

YEAR GOC CCP NOC
2004-05 208.11 DAYS 4.03 DAYS 204.08 DAYS
2005-06 299.3 DAYS 6.8 DAYS 292.5 DAYS
2006-07 258.8 DAYS 4.6 DAYS 254.2 DAYS
2007-08 276.3 DAYS 1.7 DAYS 274.6 DAYS
 300

250

200

150
NOC
100

50

0
2004-05 2005-06 2006-07 2007-08

GROSS OPERATING CYCLE FOR DYE HOUSE:

YEAR RMCP WICP FGCP DCP GOC
2004-05 - 14.6 DAYS - 420.3 DAYS 434.9 DAYS
2005-06 43.9 DAYS 9.5 DAYS 9.6 DAYS 51.5 DAYS 114.5 DAYS
2006-07 21.9 DAYS 5.9 DAYS 6 DAYS 35.7 DAYS 69.5 DAYS
2007-08 11.8 DAYS 3.4 DAYS 6.9 DAYS 58.5 DAYS 80.6 DAYS

450
400
350
300
250
200 GOC
150
100
50
0
2004-05 2005-06 2006-07 2007-08

NET OPERATING CYCLE FOR DYE HOUSE:

YEAR GOC CCP NOC
2004-05 434.9 DAYS - 434.9 DAYS
2005-06 114.5 DAYS 15.9 DAYS 98.6 DAYS
2006-07 69.5 DAYS 1.6 DAYS 67.9 DAYS
2007-08 80.6 DAYS 1.9 DAYS 78.7 DAYS
 450
400
350
300
250
200 NOC
150
100
50
0
2004-05 2005-06 2006-07 2007-08

ANALYSIS
It is claimed that gross operating cycle of VTM for spinning mill is increasing in year
2004-05 and 2005-06 and it is decreasing for dye house in year 2004-05 and 2005-06. For
spinning mill in year 2004-05 it is 208.11 days then it increased to 299.3 days in year
2005-06. In 2006-07, it is decreased to 258.8 days. The main reason of increasing gross
operating cycle in 2004-05 and 2005-06 is due to more availability of raw material in the
stores but in year 2006-07 there is less GOC due to less availability of raw material in
stores. The GOC for dye house has shown a significant decreament from 434.9 days in
2004-05 to 69.5 days in year 2006-07. In year 2007-08, it came out to be 80.6 days. The
GOP for dye house is not satisfactory as it has decreased to a great extent.

2.ANALYSIS OF WORKING CAPITAL FROM DIFFERENT ASPECTS ON

BASIS OF THE HISTORICAL DATA

There are number of devices to analyze working capital like ratio analysis, common size
statement etc. We will discuss them one by one as follows:
1. RATIO ANALYSIS
Ratio analysis is a technique of analysis and interpretation of financial statements. It is
the process of establishing and interpreting various ratios for helping in making decisions.
It only means of better understanding of financial strengths and weaknesses of a firm.
The main emphasis has been on calculating the ratios related to a working capital
management.
LIQUIDITY RATIOS
These are the ratios which measures the short term solvency or financial position of a
firm. In other words, it refers to the ability of a concern to meet its current obligations as
and when these become due. To measure the liquidity of a firm, the following ratios can
be calculated.

CURRENT RATIO – It may be defined as the relationship between current assets and
current liabilities. This ratio is also known as working capital ratio and measures the
ability of the firm to meet current liabilities. High current ratio indicates firm is liquid and
has the ability to pay its current obligations in time as and when they become due.
A ratio equal or near to the rule of thumb of 2:1 i.e. current assets double the current
liabilities is considered to be satisfactory.

Current Ratio = Current Assets

Current Liabilities
Current Ratio of VTM
FOR SPINNING MILL:

YEAR CURRENT CURRENT CURRENT RATIO

ASSETS LIABILITIES (CR)
2004-05 329780134.40 22952307.82 14.4
2005-06 337914119-55 25398799.03 13.3
2006-07 372031954.03 29553280.08 12.6
2007-08 462706185.06 47891481.92 9.7
 16
14
12
10
8
CR
6
4
2
0
2004-05 2005-06 2006-07 2007-08

FOR DYE HOUSE:

YEAR CURRENT CURRENT CURRENT RATIO
ASSETS LIABILITIES (CR)
2004-05 9633007.63 10462522.55 0.9
2005-06 64846029.63 13090777.94 4.9
2006-07 92984361.6 8735151.3 10.6
2007-08 148537709.99 5975377.17 24.9