Standalone Balance Sheet - TATA CHEMICALS

Notes

I. ASSETS
(1) Non-
current assets

(a) Property, plant and equipment 4(a)

(b) Capital work-in-progress 4(b)
(c) Investment property 5
(d) Right-of-use assets 6
(e) Goodwill 7(b)
(f ) Other intangible assets 7(a)
(g) Intangible assets under development
(h) Financial assets
(i) Investments in subsidiaries and joint ventures 8(a)
(ii) Other investments 8(b)
(iii) Other financial assets 10
(i) Advance tax assets (net) 22
(j) Other non-current assets 11
Total non-current assets
(2) Current assets
(a) Inventories 12
(b) Financial assets
(i) Investments 8(c)
(ii) Trade receivables 13
(iii) Cash and cash equivalents 14
(iv) Bank balances other than (iii) above 14
(v) Loans 9
(vi) Other financial assets 10
(c) Other current assets 11
Total current assets
Total assets
II. EQUITY AND LIABILITIES
Equity
 (a) Equity share capital 15
(b) Other equity 16
Total equity
Liabilities
(1) Non-
current liabilities

(a) Financial liabilities

(i) Other financial liabilities 17
(b) Provisions 18
(c) Deferred tax liabilities (net) 19
(d) Other non-current liabilities 20
Total non-current liabilities
(2) Current liabilities
(a) Financial liabilities
(i) Lease Liabilities 33
(ii) Trade payables 21
- Outstanding dues of micro enterprises and small enterprises
- Outstanding dues of creditors other than above
(iii) Other financial liabilities 17
(b) Other current liabilities 20
(c) Provisions 18
(d) Current tax liabilities (net) 22
Total current liabilities
Total liabilities
Total equity and liabilities
EMICALS
(in crore)
As at As at
As at
March 31, March 31,
March 31, 2021
2023 2022

2,621 2,249 2314

1,561 1,202 421
52 53 55
17 20 24
46 46 46
6 7 8
2 3 0

4,693 4,693 4758

5,039 5,121 3297
9 12 8
667 613 575
193 151 283
14,906 14,170 11789

1,203 880 522

1,049 1,113 1282

201 182 145
13 18 61
72 475 624
325 0.18 0
17 52 119
102 127 123
2,982 2,847 2876
17,888 17,017 14665
 255 255 255
15,737 15,087 13002
15,992 15,342 13257

2 - 0
139 133 152
390 397 202
12 14 11
543 544 370

- 3 4

3 6 4
695 554 478
254 181 166
77 61 48
233 219 204
91 107 135
1,353 1,131 1039
1,896 1,675 1408
17,888 17,017 14665
 INCOME STATEMENT - TATA CHEMICALS

Note

I. Income
(a) Revenue from operations 23
(b) Other income 24
Total income (a+b)
II. Expenses
(a) Cost of materials consumed
(b) Purchases of stock-in-trade
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 25
(d) Employee benefits expense 26
(e) Power and fuel
(f ) Freight and forwarding charges
(g) Finance costs 27
(h) Depreciation and amortisation expense 28
(i) Other expenses 29
Total expenses (a to i)
III. Profit before tax (I - II)
IV. Tax expense
(a) Current tax 30
(b) Deferred tax 30
Total tax expense (a + b)
V. Profit for the year from continuing operations (III-IV)
VI. Exceptional gain from discontinued 31
operations (net)
VII. Tax expense of discontinued operations
VIII. Profit for the year from discontinued operations ( VI-VII)
IX. Profit for the year (V+VIII)
X. Other Comprehensive Income (net of tax) ("OCI") - (loss)/gain
(A) Items that will not be reclassified to the Statement of Profit and Loss
- Changes in fair value of investments in equities carried at fair value through OCI
- Remeasurement of defined employee benefit plans (note 34)
(B) Income tax relating to items that will not be reclassified to the Statement of Profit and
Loss
Total Other Comprehensive Income - (loss)/gain (net of tax) (A-B)
XI. Total comprehensive income for the year (IX + X)
XII. Earnings per share for continuing operations (in `)
- Basic and Diluted 32
 XIII. Earnings per share for discontinued
operations (in `)
- Basic and Diluted 32
XIV. Earnings per share (for continuing and discontinued operations) (in `)

- Basic and Diluted 32

HEMICALS
(in crore)
Year ended Year ended Year ended
March 31, March 31, March 31,
2023 2022 2023

4,930 3,721 2,998.88

301 278 219.15
5,231 3,999 3,218.03

1,138 814 600.33

130 160 152.56
(107) (43) 11.59
274 249 250.42
1,188 670
527 460
26 19 18.74
245 222 197.32
545 460 1,373.10
3,966 3,011 2,604.06
1,265 988 613.97

239 204 134.49

(1) (3) 0.37
238 201 134.86
1,027 787 479.11
- 28 -

- 13 -
- 15 -
1,027 802 479.11

(82) 1,690 1,194.26

17 23 28.72
(6) 175 142.01
(59) 1,538 1,080.97
968 2,340 1,560.08

40.31 30.87 18.81

 - 0.59 -

40.31 31.46 18.81

 CASH FLOW STATEMENT - TATA CHEMICALS
( in cro
Particulars Year ended Year ended
March 31, 2023 March 31,
2022

A Cash flows from operating activities

Profit before tax from continuing operations 1,265 988
Profit before tax from discontinued operations - 28
1,265 1,016
Adjustments for :
Depreciation and amortisation expense 245 222
Finance costs 26 19
Interest income (61) (110)
Dividend income (162) (83)
Net gain on sale of current investments (54) (46)
Provision for employee benefits expense 21 8
Provision for doubtful debts and advances/bad debts written off (net) (1) 1
Provision for contingencies (net) 23 14
Liabilities no longer required written back (1) (2)
Foreign exchange (gain)/loss (net) 3 (5)
Loss on assets sold or discarded (net) 5 4
Operating profit before working capital changes 1,309 1,038
Adjustments for :
Trade receivables, other financial assets and other assets 40 20
Inventories (324) (358)
Trade payables, other financial liabilities and other liabilities 141 67
Cash generated from operations 1,166 767
Taxes paid (net of refund) (281) (185)
Net cash generated from operating activities 885 582
B Cash flows from investing activities
Acquisition of property, plant and equipment (including capital work-in- (946) (776)
progress)
Acquisition of intangible assets (including intangible asset under (1) (8)
development)
Proceeds from sale of property, plant and equipment 1 7
Proceeds from sale of other non-current investments 150 75
Proceeds from sale of current investments 3,506 4,444
Purchase of non-current investments (150) (133)
Purchase of current investments (3,349) (4,229)
Investment in Non convertible Debentures (current investments) (39) -
 Bank balances not considered as cash and cash equivalents (net) 402 148
Loans - Inter-corporate deposit placed (325) -
Interest received 31 34
Dividend received
- From subsidiaries 29 29
- From joint venture 92 28
- From others 41 26
Net cash used in investing activities (558) (355)
C Cash flows from financing activities
Repayment towards lease liabilities (3)
Finance costs paid (12)
Bank balances in dividend and restricted account 1
Dividends paid (318)
Net cash used in financing activities (332)
Net decrease in cash and cash equivalents (5)
Cash and cash equivalents as at April 1 18
Cash and cash equivalents as at March 31 (note 14) 13
CHEMICALS
( in crore)
Year ended Year ended
March 31, March 31,
2022 2021

988 613.97
28 -
1,016 613.97

222 197.32
19 18.74
(110) (47.34)
(83) (72.91)
(46) (45.82)
8 30.05
1 0.18
14 7.12
(2) (3.25)
(5) 4.15
4 2.78
1,038 704.99

20 58.38
(358) 179.53
67 (120.09)
767 822.81
(185) (151.06)
582 671.75

(776) (546.87)
(8) (3.77)
7 0.54
75 -
4,444 3,335.53
(133) (198.90)
(4,229) (3,269.99)
- -
 148 169.99
- 37.76
34 26.33

29 26.49
28 26.49
26 20.09
(355) -402.80

(5) (3.08)
(10) (9.95)
- 1.96
(255) (280.19)
(270) (291.26)
(43) (22.31)
61 83.72
18 61.41
Areas of Analysis:

1. Inventory Turnover ratio and average inventory holding days.

Comment on which company has the longer holding period. Also
find out the method of Inventory valuation followed by the
company during the last three years.

2. Trade receivable days to find out the average time taken by the
Company for the credit sales collection. Compare the same over last
3 years.

3. Find out the impact of the Other Income of the company on its
PBT and PAT (express in terms of percentage ) to check the quality of
earnings.

4. Find out the Operating Profit of each Company

5. Calculate the P/E ratio at the end of each Financial year for last 3
years

6. Check the Composition of Capital Employed ( Equity & Debt ) and

comment.
Components/Year 2023 2022 2021 Units Analysis

COGS 2,349 1601 764.48 (In crore)

Average Inventory 1,042 701 611 (In crore)

Inventory Turnover Inventory Method
ratio = used is Weighted
2.255401 2.284467 1.25054 (In Times)
COGS/Average Average Method in
Inventory all 3 years

Average inventory
Holding dates =
161.8338 159.7747 291.874 (In days)
365/Average
Inventory
Sales 4,930 3,721 2,998.88 (In crore)
Trade receivable 201 182 145 (In crore)

Trade Receivable
has almost same
Trade receivable the 3 years with
14.88134 17.85273 17.63852 (In days)
days 16.66 %
improvement in
2023

Other Income 301 278 219.15 (In crore)

PBT 1,265 988 613.97 (In crore)
PAT 1,027 802 479.11 (In crore)
Other Income as a
percentage of PBT
Other Income/PBT 24% 28% 36%
has been reducing
over years

Other Income as a
percentage of PAT
Other Income/PAT 29% 35% 46%
has been reducing
over years

There is an increase
in Operating Profit
Operating Profit 3,524 2,568 2,037 (In crore)
by 32% increase
each year

Share Price 958 938 894

EPS 40.31 31.46 18.81
P/E Ratio 23.76581 29.81564 47.52791
 Capital employed
Composition of
tells you how much
Capital Employed =
16,535 15,886 13,626 (In crore) capital has been put
Total Assets -
to use in an
Current Liabilities
investment.
D/E ratio is almost
Debt/Equity Ratio 0.118559 0.109177 0.106215
same for 3 years
Cost for this purpose includes cost
of direct materials, direct labour
and appropriate share of
overheads.