On 1st Apr'21, Piyush started a Pharmacy with a Capital Contribution of Rs 10,00,000.

The contribution was used as

a) Stocks Rs 400,000
b) Equipments Rs 400,000

75% of stocks were sold @ 50% mark up.

Opex was Rs 50,000 in Cash. All Sales & Purchases were made in Cash.

Equipments had useful life of 20 years.

Taxes @ 30%.

Construct

a) P&L for the year 2021-22

b) B/s as at 31st Mar'22
. The contribution was used as under:
 WORKING NOTE 1 WORKING NOTE 2

INR
Total Stocks Purchased in Cash 400,000 COGS

Less: Stocks sold (COGS) P&L 300,000 Add: 50% Mark-up

Closing Stock (Inventories) B/s 100,000 Sales (Revenues)

WORKING NOTE 3 WORKING NOTE 4

Opening Balance -
Equipment Value
Add: Capital Contribution 1,000,000
Useful Life
Add: Sales 450,000
Depreciation (Annual)
Less: Equipment 400,000

Less: Inventories 400,000

Less: Opex 50,000

Closing Balance 600,000

ORKING NOTE 2

INR
300,000

150,000

450,000

ORKING NOTE 4

INR

400,000

20

20,000
 PIYUSH'S PHARMACY

P&L ACCOUNT FOR THE YEAR 1ST APR'21-31ST MAR'22

WN# INR INR

Revenues 2 450,000

(-) COGS 1 300,000

Gross Profit 150,000

(-) Opex 50,000

Depreciation 4 20,000
70,000

EBIT 80,000

(-) Interest -

PBT 80,000

(-) Prov for Tax 24,000

PAT 56,000
 PIYUSH'S PHARMACY

BALANCE SHEET AS AT 31ST MAR'22

Liabilities & Equity

Equity

Capital Contribution 1,000,000

Profits (Undistributed) 56,000

Current Liabilities

Provision for taxes 24,000

Assets

Non Current Assets

Gross Block 400,000

Less: Accumulated Depreciation 20,000
Net Block

Current Assets

Inventories 100,000
Cash & Bank Balance 600,000
22

1,056,000

24,000

1,080,000

380,000

700,000
1,080,000
In the next year, the pharmacy grew substantially and hence acquired a new building for Rs 25 Lacs (UL 25 years)

This building was financed by issue of debentures carrying 8% annual interest obligation.

They realised that the equipment they purchased last year will not support in the current FY & hence sold off the
equipment for Rs 3 Lacs in the BOY.

They now bought new equipment for Rs 12.50 Lacs (UL 10 years).

The net cost of acquisition was financed by a term loan carrying 7.5% annual interest.

During this FY they purchased Inventories for Rs 25 Lacs. 80% of the total inventories were sold @ 40% mark up.

The Opex increased to Rs 2 Lacs.

All Sales & Purchases were made on Credit. They were able to collect 75% of the sales invoices and paid 70% of t
Purchase Invoices.

The tax order for the prev FY came through and a liability of Rs 30000 was paid this year.

Taxes continued to be provided @ 30%.

Construct?

a) The P&L for FY 22-23 &

b) B/s as at 31st Mar'23
ding for Rs 25 Lacs (UL 25 years).

current FY & hence sold off the

ries were sold @ 40% mark up.

sales invoices and paid 70% of the

 WN#1 WN#2

New Bldg Cost 2,500,000 Debentures 2,500,000

UL 25 Interest 8%

Per Year 100,000 Finance Costs 200,000

WN#4 WN#5

New Eqpmnt Cost 1,250,000 Term Loan 950,000

UL 10 Interest 7.5%

Per Year 125,000 Finance Costs 71,250

WN#7 WN#8

COGS 2,080,000 Debtors (OB) -

Mark Up 40% Sales 2,912,000

Sales 2,912,000 Collections 2,184,000

Debtors (CB) 728,000

WN#10

C&B (OB) 600,000

Collections 2,184,000

Payments 1,750,000

Opex 200,000

Interest 271,250

Taxes 30,000

C&B (CB) 532,750

 WN#3

Equipments WDV 380,000

Sold at 300,000

LOS 80,000

WN#6

Inventories (OB) 100,000

Purchased 2,500,000

COGS 2,080,000 Rem Inv 520,000

WN#9

Creditors (OB) -

Purchases 2,500,000

Payments 1,750,000

Creditors (CB) 750,000

 PIYUSH'S PHARMACY

P&L ACCOUNT FOR THE YEAR 1ST APR'22-31ST MAR'23

WN# INR INR

Revenues 7 2,912,000

(-) COGS 6 2,080,000

Gross Profit 832,000

(-) Opex 200,000

Depreciation 1,4 225,000
Loss on Sale 3 80,000
505,000

EBIT 327,000

(-) Interest 2,5 271,250 271,250

PBT 55,750

(-) Prov for Tax 22,725

PAT 33,025
31ST MAR'23
 PIYUSH'S PHARMACY

BALANCE SHEET AS AT 31ST MAR'23

Liabilities & Equity

Equity

Capital Contribution 1,000,000

Profits (Undistributed) 89,025

Long Term Debt

Debentures 2,500,000
Term Loan 950,000

Current Liabilities

Creditors 750,000
Provision for taxes 16,725

Assets

Non Current Assets

Gross Block (Equipment) 1,250,000

Less: Accumulated Depreciation 125,000
Net Block

Gross Block (Building) 2,500,000

Less: Accumulated Depreciation 100,000
Net Block

Current Assets
Inventories 520,000
Debtors 728,000
Cash & Bank Balance 532,750
1,089,025

3,450,000

766,725

5,305,750

1,125,000

2,400,000
1,780,750

5,305,750
 Total Dhamaal Ltd.

Balance Sheet as on 31st March 2020

Liabilities & Equity

Equity

Share Capital
Retained Earnings

Long Term Borrowings

10% Bank Loan

8% Debentures
7% Bonds

Current Liabilities & Provisions

Sundry Creditors

Provisions for Taxes

Represented by Assets

Non-Current Assets

Office Equipment
GCA
Less: Acc Dep

Building
GCA
 Less: Acc Dep

Current Assets

Inventories
Cash & Bank
Sundry Debtors
Less: PDD

The following information is provided to you for the FY 2020-21

a) The company has been using SLM for depreciation and the originally envisaged useful lives
i) Equipments ---- 25 years
ii) Building ---- 20 years

b) The Company over achieved the sales budget of the Current Year by 20%. (The sanctioned

c) The inventories at the end of the FY were 20% lower than what they were at the beginning

d) The Co met the Gross Profit (CM) mandate of 60%

e) The Opex was limited to 1/9th of the Gross Profits, incurred in Cash

f) The tax assessment order of the PY was Rs 480 Cr and was duly paid in this FY. Taxes contin

g) The Co was able to collect 92% of the prev yr invoices and balance turned bad. The PDD co

h) 85% of the CY Invoices were collected and the company also paid 85% of their obligations o

Construct

P&L FTY 2020-21

B/s AOD 31.03.21
CFS FTY 2020-21
 Rs Crores

hamaal Ltd.

s on 31st March 2020

Liabilities & Equity

1,000
750
1,750

m Borrowings

500
300
200
1,000
abilities & Provisions

250

500
750

3,500

Represented by Assets

2,500
1,500
1,000

5,000
 3,750
1,250

500
366
400
16 384
1,250

3,500

originally envisaged useful lives are as under

nt Year by 20%. (The sanctioned budget was Rs 1250 Crores)

what they were at the beginning of the year

duly paid in this FY. Taxes continued to be provided at 30%

balance turned bad. The PDD continued at the same %

so paid 85% of their obligations of the CY and all of last year's trade payables
 WN # 1 WN # 2

Equipment 100 Sales Budget 1,250

Building 250 Extra 250

Depreciation 350 Revenues 1,500

Debtors (CB)

WN # 4 WN # 5

Revenues 1,500 PDD (OB) 16

Gross Profit 900 Actual Bad Debts 32
COGS 600
Shortfall 16
CY Prov 9

Charged to P&L 25

WN # 7 WN # 8

On Bank Loans 50 Creditors (OB) 250

On Debentures 24 Purchases 500
On Bonds 14 Payments 675

Interest 88 Creditors (CB) 75

P&L 88
 WN # 3

Inventories (OB) 500

Lower by 100

Inventories (CB) 400

WN # 6

Debtors (OB) 400

Sales 1,500
PY Collxns 368
Bad Debts 32
CY Collxns 1,275

Debtors (CB) 225

WN # 9

Cash & Bank (OB) 366

Collxns 1,643
Payments 675
Opex 100
Interest 88
Taxes 480

Cash & Bank (CB) 666

 TOTAL DHAMAAL LTD.

P&L ACCOUNT FOR THE YEAR 1ST APR'20-31ST MAR'21

WN# INR INR

Revenues 2 1,500

(-) COGS 4 600

Gross Profit 900

(-) Opex 100

Depreciation 1 350
PDD 5 25
475

EBIT 425

(-) Interest 88

PBT 337

(-) Prov for Tax 81

PAT 256
31ST MAR'21
 Total Dhamaal Ltd.

Balance Sheet as on 31st March 2021

Liabilities & Equity

Equity

Share Capital
Retained Earnings

Long Term Borrowings

10% Bank Loan

8% Debentures
7% Bonds

Current Liabilities & Provisions

Sundry Creditors
Provisions for Taxes

Represented by Assets

Non-Current Assets

Office Equipment
GCA
Less: Acc Dep
Building
GCA
Less: Acc Dep

Current Assets

Inventories
Cash & Bank
Sundry Debtors 225
Less: PDD 9
 Rs Crores

hamaal Ltd.

s on 31st March 2021

Liabilities & Equity

1,000
1,006
2,006

500
300
200
1,000

75
101
176

3,182

presented by Assets

2,500
1,600
900
5,000
4,000
1,000

400
666

216 1,282

3,182
 TOTAL DHAMAAL LTD.

CASH FLOW STATEMENT FOR THE YEAR 1ST APR'20-31ST MAR'21

Rs Crores Rs Crores Rs Crores

Net Profit earned during the FY 256

Add: NCA's & Reclass Items

Depreciation 350
Prov for Tax 81
Interest 88
519

Cash from Operations before WC adj's 775

WC adj's

Inventories 100
Debtors 175
PDD -7
Creditors -175

93

Cash from Operations before Taxes Paid 868

Less: Taxes Paid 480

Cash from Operating Activities 388

Cash from Investing Activities -

Interest Paid -88

Cash from Financing Activities -88

Total Cash Generated during FY 300

Cash at BOY 366

Cash at EOY 666
 4 RULES FOR WC ADJ'S

Increase in CA Outflow
Decrease in CA Inflow
Increase in CL Inflow
Decrease in CL Outflow
 APOLLO TYRES
BALANCE SHEET (In Rs. Cr)

Common
2023 2022
Size/Vertical Analysis

ASSETS
Non-current assets
Property, plant and equipment 11301.202 11,263.09
Capital work-in-progress 134.495 548.04
Investment property
Right of use assets 466.511 522.34
Intangible assets 46.208 43.90
Financial assets
Investments 2421.361 2,423.99
Loans
Other financial assets 401.987 394.05
Other non-current assets 57.773 33.61
Total non-current assets 14829.537 15,229.01
Current Assets
Inventories 2276.868 2,463.89
Financial assets
Investments 401.694 450.75
Trade receivables 1588.394 995.99
Cash and cash equivalents 500.44 315.40
Bank balances other than cash and cash
equivalents 10.221 210.02
Loans
Other Financial Assets 236.544 128.41
Current Tax Assets (Net)
Other current assets 270.946 229.06
Total current assets 5285.107 4,793.52
Total Assets 20114.644 20,022.53
EQUITY AND LIABILITIES
Equity
Equity share capital 63.51 63.51
Other equity 9836.393 9,454.97
Total Equity 9899.903 9,518.48
Liabilities
Non-current Liabilities
Financial Liabilities
Borrowings 3174.813 3,531.01
Lease liabilities 400.633 466.70
Other financial liabilities
Provisions 49.296 49.04
Deferred tax liabilities (net) 795.536 705.33
Other non-current liabilities 260.97 605.73
Total non-current liabilities 4681.248 5,357.82
Current Liabilities
Financial liabilities
Borrowings 900.646 855.28
Trade payables 2429.11 2,784.41
Lease liabilities 93.102 84.93
Other financial liabilities 400.65 964.47
Other current liabilities 1481.93 217.98
Provisions 207.24 194.78
Current tax liabilities (net) 20.824 44.39
Total current liabilities 5533.502 5,146.23
Total Equity and Liabilities 20114.653 20,022.53
 APOLLO TYRES
BALANCE SHEET (In Rs. Cr)
Common Common Common Common
Size/Vertical 2021 Size/Vertical 2020 Size/Vertical 2019 Size/Vertical
Analysis Analysis Analysis Analysis

9,672.05 8,632.18 6,368.08

1,029.96 1,272.00 654.90

524.49 620.97
37.60 32.04 31.44

2,409.72 2,409.52 2,232.57

368.83 232.61 121.06

223.24 365.05 730.45
14,265.88 13,564.44 10,138.50

2,076.60 1,808.25 2,051.48

90.07 -
732.04 445.08 779.50
225.81 225.63 210.38

1,174.44 10.96 7.19

-
289.70 74.74 28.34

308.91 352.89 433.56

4,897.57 2,917.55 3,510.44
19,163.45 16,481.99 13,648.94

63.51 57.21 57.21

9,409.05 7,634.94 7,583.96
9,472.56 7,692.15 7,641.16

3,660.43 3,208.32 2,443.86

465.16
3.07 531.90 1.53
49.48 50.33 49.88
673.37 531.27 575.46
 510.48 375.45 287.95
5,361.99 4,697.37 3,358.68

686.10 1,118.07 292.51

1,929.26 1,610.71 1,368.66
69.94
1,161.33 1,018.26 457.26
219.14 109.29 284.29
192.34 180.19 165.98
70.79 55.95 80.40
4,328.90 4,092.48 2,649.10
19,163.45 16,481.99 13,648.94
 Common
2018 Size/Vertical
Analysis

5,679.32
671.79

34.55

1,639.38

88.29
152.33
8,265.66

1,721.49

1,339.05
550.15
254.45

6.07
571.81
43.31

390.60
4,876.92
13,142.58

57.21
7,203.40
7,260.61

1,864.39

13.16
45.07
544.34
 343.34
2,810.30

647.42
1,512.57

319.32
234.20
265.12
93.04
3,071.67
13,142.58
 APOLLO TYRES
BALANCE SHEET (In Rs. Cr)
2023 2022 2021 2020 2019
ASSETS
Non-current assets 151.99% 112.13%
Property, plant and equipment 11301.202 11,263.09 9,672.05 8,632.18 6,368.08
Capital work-in-progress 134.495 548.04 1,029.96 1,272.00 654.90
Right of use assets 522.34 524.49 620.97
466.511
Intangible assets 46.208 43.90 37.60 32.04 31.44
Financial assets
Investments 2421.361 2,423.99 2,409.72 2,409.52 2,232.57

Other financial assets 401.987 394.05 368.83 232.61 121.06

Other non-current assets 57.773 33.61 223.24 365.05 730.45
Total non-current assets 14829.537 15,229.01 14,265.88 13,564.44 10,138.50
Current Assets
Inventories 2276.868 2,463.89 2,076.60 1,808.25 2,051.48
Financial assets
Investments 401.694 450.75 90.07 -
Trade receivables 1588.394 995.99 732.04 445.08 779.50
Cash and cash equivalents 500.44 315.40 225.81 225.63 210.38
Bank balances other than cash and
cash equivalents 10.221 210.02 1,174.44 10.96 7.19
Loans -
Other Financial Assets 236.544 128.41 289.70 74.74 28.34

Other current assets 270.946 229.06 308.91 352.89 433.56

Total current assets 5285.107 4,793.52 4,897.57 2,917.55 3,510.44
Total Assets 20114.644 20,022.53 19,163.45 16,481.99 13,648.94
EQUITY AND LIABILITIES
Equity
Equity share capital 63.51 63.51 63.51 57.21 57.21
Other equity 9836.393 9,454.97 9,409.05 7,634.94 7,583.96
Total Equity 9899.903 9,518.48 9,472.56 7,692.15 7,641.16
Liabilities
Non-current Liabilities
Financial Liabilities 1.70
Borrowings 3174.813 3,531.01 3,660.43 3,208.32 2,443.86
Lease liabilities 400.633 466.70 465.16
Other financial liabilities 3.07 531.90 1.53
Provisions 49.296 49.04 49.48 50.33 49.88
Deferred tax liabilities (net) 795.536 705.33 673.37 531.27 575.46
Other non-current liabilities 260.97 605.73 510.48 375.45 287.95
Total non-current liabilities 4681.248 5,357.82 5,361.99 4,697.37 3,358.68
Current Liabilities
Financial liabilities
Borrowings 900.646 855.28 686.10 1,118.07 292.51
Trade payables 2429.11 2,784.41 1,929.26 1,610.71 1,368.66
Lease liabilities 93.102 84.93 69.94
Other financial liabilities 400.65 964.47 1,161.33 1,018.26 457.26
Other current liabilities 1481.93 217.98 219.14 109.29 284.29
Provisions 207.24 194.78 192.34 180.19 165.98
Current tax liabilities (net) 20.824 44.39 70.79 55.95 80.40
Total current liabilities 5533.502 5,146.23 4,328.90 4,092.48 2,649.10
Total Equity and Liabilities 20114.653 20,022.53 19,163.45 16,481.99 13,648.94
 2018 2022 2021 2020 2019 2018
Base Year

5,679.32
671.79

34.55

1,639.38

88.29
152.33
8,265.66

1,721.49

1,339.05
550.15
254.45

6.07
571.81
43.31

390.60
4,876.92
13,142.58

57.21
7,203.40
7,260.61

1,864.39

13.16
45.07
544.34
343.34
2,810.30
 647.42
1,512.57

319.32
234.20
265.12
93.04
3,071.67
13,142.58
 PROFIT
2023 Common Size 2022
Revenue from Operations 17301.019 14,649.40
Other Income 75.126 126.90
Total Income 17376.145 14,776.30
Expenses
Cost of materials consumed 10693.772 9,493.77
Purchase of stock-in-trade 962.817 846.59
Changes in inventories of finished goods,
stock-in-trade and work-in-progress 45.554 -348.45
Excise duty on sales -
Employee benefits expenses 1025.915 1,024.02
Finance costs 467.228 382.16
Depreciation and amortisation expense 907.05 823.91
Other expenses 2462.042 2,202.68
Total expenses 16564.378 14,424.68
Profit before Interest, Depreciation & Tax
(PBIDT) 2186.045 1557.689
Profit before exceptional items and tax 811.767 351.62
Exceptional items 1.27
Profit before tax 811.767 350.35
Tax expense -
Current tax expense 147.715 61.16
Deferred tax 85.314 28.13
Total tax 233.029 89.29
Net profit for the year 578.738 261.06
Other comprehensive Income / (loss) (9.10) 7.13
Total Comprehensive income for the year 587.838 268.20
Other Equity Balance as on march 31 9836.39 9,454.97
 APOLLO TYRES LTD
PROFIT AND LOSS STATEMENT (in Rs. Cr.)
Common Size 2021 Common Size 2020 Common Size
11,733.40 11,068.32
121.52 28.61
11,854.92 11,096.93

6,238.32 6,072.95
694.83 651.73

6.92 112.83
-
910.90 826.12
379.41 225.70
713.38 620.71
1,848.11 2,005.52
10,791.87 10,515.54

2155.846 1427.8
1,063.05 581.39
11.02
1,052.04 581.39
-
190.44 102.66
138.78 -29.90
329.22 72.76
722.82 508.62
0.62 -26.62
72.90 482.01
9,409.05 7,634.94
 2019 Common Size 2018 Common Size
12,353.77 10,556.91
111.47 119.50
12,465.20 10,676.40

7,583.84 6,281.15
735.53 251.76

-261.47 12.55
- 254.89
737.24 709.68
137.86 137.54
446.33 364.38
2,079.51 1,797.18
11,458.84 9,809.12

1590.58 1369.23
1,006.39 867.31
200.00
806.39 867.31

180.65 188.47
33.63 56.46
214.28 244.92
592.11 622.39
-4.67 6.42
587.44 628.81
7,583.96 7,203.41
 APOLLO TYRES LTD
PROFIT AND LOSS STATEMENT (in Rs. million)
2023 2022 2021 2020
Revenue from Operations 17301.019 14,649.40 11,733.40 11,068.32
Other Income 75.126 126.90 121.52 28.61
Total Income 17376.145 14,776.30 11,854.92 11,096.93
Expenses
Cost of materials consumed 10693.772 9,493.77 6,238.32 6,072.95
Purchase of stock-in-trade 962.817 846.59 694.83 651.73
Changes in inventories of finished goods,
stock-in-trade and work-in-progress 45.554 -348.45 6.92 112.83
Excise duty on sales - -
Employee benefits expenses 1025.915 1,024.02 910.90 826.12
Finance costs 467.228 382.16 379.41 225.70
Depreciation and amortisation expense 907.05 823.91 713.38 620.71
Other expenses 2462.042 2,202.68 1,848.11 2,005.52
Total expenses 16564.378 14,424.68 10,791.87 10,515.54
Profit before Interest, Depreciation & Tax
(PBIDT) 2186.045 1557.689 2155.846 1427.8
Profit before exceptional items and tax 811.767 351.62 1,063.05 581.39
Exceptional items 1.27 11.02
Profit before tax 811.767 350.35 1,052.04 581.39
Tax expense - -
Current tax expense 147.715 61.16 190.44 102.66
Deferred tax 85.314 28.13 138.78 -29.90
Total tax 233.029 89.29 329.22 72.76
Net profit for the year 578.738 261.06 722.82 508.62
Other comprehensive Income / (loss) (9.10) 7.13 0.62 -26.62
Total Comprehensive income for the year 587.838 268.20 72.90 482.01
Other Equity Balance as on march 31 9836.39 9,454.97 9,409.05 7,634.94
 2019 2018 2022 2021 2020 2019 2018
12,353.77 10,556.91 \
111.47 119.50
12,465.20 10,676.40

7,583.84 6,281.15
735.53 251.76

-261.47 12.55
- 254.89
737.24 709.68
137.86 137.54 3.40
446.33 364.38
2,079.51 1,797.18
11,458.84 9,809.12

1590.58 1369.23
1,006.39 867.31
200.00
806.39 867.31

180.65 188.47
33.63 56.46
214.28 244.92
592.11 622.39
-4.67 6.42
587.44 628.81
7,583.96 7,203.41