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ppt on acc cements financial ratios, and cash flow analysis
 

ppt on acc cements financial ratios, and cash flow analysis

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ppt on acc cement's cash flow analysis and financial ratio analysis along with comparisons with competitors

ppt on acc cement's cash flow analysis and financial ratio analysis along with comparisons with competitors

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    ppt on acc cements financial ratios, and cash flow analysis ppt on acc cements financial ratios, and cash flow analysis Document Transcript

    • SADA ATUT RAHO ACC LTD.EMBRACING TOMMORROW
    • • 1. HIGHLIGHTS OF PERFORMANCE• Cement despatches were 23.68 million tonnes during the year as compared to 21.17 million tonnes during 2010;• Consolidated income for the year under review was 10428 crore, an increase of 21% as compared to 8619 crore in 2010;• Consolidated profit before tax increased in 2011 to 1505 crore against ` 1415 crore in 2010;• Consolidated profit after tax was higher in 2011 at 1301 crore against ` 1078 crore in 2010.• 2. FINANCIAL RESULTS 11-10• Sale of product and services (net of excise duty)• and Other Income 9852.20 8074.26• Profit before Tax 1540.42 1461.45• Provision for tax 215.16 341.44• Profit after tax 1325.26 1120.01• Balance brought forward from previous year 3381.41 3203.85• Profit available for appropriations 4706.67 4323.86• Appropriations:• Interim Dividend 206.52 187.75• Proposed Final Dividend 319.17 384.88• Dividend Distribution Tax 85.28 95.10• Previous Year Dividend Distribution Tax (1.49) (0.93)• General Reserves 250.00 250.00• Debenture Redemption Reserve 25.00 25.00• Amortization Reserves 0.65 0.65• Surplus carried to the next year’s account 5 3821.54 3381.41
    • • 3. DIVIDEND Your Directors are pleased to recommend a final dividend of ` 17 per Equity share of ` 10 each. The Company had distributed an interim dividend of 11 per Equity share in August 2011. The total dividend for the year ended December 31, 2011 would accordingly be ` 28 per Equity share as against the total dividend of ` 30.50 per Equity share for the year ended December 31, 2010 which included the payment of one-time ‘‘Special Dividend’’ of ` 7.50 for the Platinum Jubilee Year. The total outgo for the current year amounts to ` 610.97 crore, including dividend distribution tax of ` 85.28 crore, as against ` 667.73 crore, including dividend distribution tax of ` 95.10 crore in the previous year.
    • Cash Flow analysis 2011 2010 Crore Crore• A. Cash flow from operating activities:1 Net Profit before Tax 1,540.42 1,461.45• Adjustments for:2 Depreciation and Amortisation 475.30 392.683 Loss on sale / write off of Fixed Assets (Net) 9.44 38.374 Profit on Sale of Current Investments, Other than trade (36.15) -5 Interest and Dividend Income (155.76) (98.48)6 Interest Expense 96.91 56.787 Provision for Bad and Doubtful Debts and• Advances written back (Net) (35.43) (31.50)8 Capital Spares Consumed 14.76 16.519 Wealth Tax provision 0.15 0.7110 Provision for obsolescence of spare parts 6.05 71.19• Operating profit before working capital changes 1,915.69 1,907.71• Movements in Working Capital:11 Decrease / (Increase) in Sundry debtors and Loans & advances (37.65) 84.8812 Decrease / (Increase) in Inventories (190.76) (207.20)13 Decrease / (Increase) in Other current assets 6.06 1.7014 Increase / (Decrease) in Current liabilities and Provisions 300.46 224.24• Cash generated from operations 1,993.80 2,011.3315 Direct Taxes Paid - (Net of refunds) (416.42) (75.95)• Net Cash flow from operating activities 1,577.38 1,935.38 Cont.
    • • B. Cash flow from investing activities:16 Loans to Subsidiary Companies (30.64) (58.77)17 Repayment of Loans from Subsidiary Companies 61.00 23.1318 Purchase of Fixed Assets(Including Capital work-in-progress) (468.07) (833.23)19 Proceeds from sale of Fixed Assets 29.82 22.1120 Profit on Sale of Current Investments, Other than trade 36.15 -21 Purchase of Investments - (37.16)22 Investment in subsidiary Company (50.00) (11.78)23 Investment in Deposits - (10.00)24 Dividend Received 31.83 51.6625 Interest Received 125.67 41.79• Net cash used in investing activities (264.24) (812.25)• C. Cash flow from financing activities:26 Interest paid {includes capitalised 1.28 Crore (Previous Year - ` 36.60 Crore)} (72.76) (78.14)27 Proceeds from issue of Share Capital(Including Securities premium) - 0.0828 (Repayment) / Proceeds of Short term Borrowings (9.93) 9.9329 Repayment of Long term Borrowings (3.16) (53.03)30 Dividend paid (including Dividend Distribution Tax) (682.47) (500.23)• Net cash used in financing activities (768.32) (621.39)• Net increase / (decrease) in cash and cash equivalents 544.82 501.74• Cash and cash equivalents at the beginning of the year 2,287.59 1,785.85• Cash and cash equivalents at the end of the year 2,832.41 2,287.59• Components of cash and cash equivalents:• Cash and Bank Balances as per Balance sheet (Refer Schedule 10) 1,652.56 980.03Add : Investment in Mutual Funds 594.00 1,307.56Add : Investment in Certificate of Deposits 585.85 -• Cash and Cash equivalents in cash flow statement 2,832.41 2,287.59
    • Liquidity And Solvency RatiosCurrent Ratio 0.87 0.68 0.67 0.89 0.86Quick Ratio 0.58 0.43 0.42 0.61 0.55Debt Equity Ratio 0.07 0.08 0.09 0.10 0.07Long Term Debt Equity Ratio 0.07 0.08 0.09 0.10 0.07Debt Coverage RatiosInterest Cover 15.58 25.57 27.96 42.56 24.05Total Debt to Owners Fund 0.07 0.08 0.09 0.10 0.07Financial Charges Coverage Ratio 20.49 32.48 32.02 49.92 28.21Financial Charges Coverage Ratio Post Tax 19.58 27.64 24.12 38.71 24.63Management Efficiency RatiosInventory Turnover Ratio 18.59 19.04 25.22 27.51 24.85Debtors Turnover Ratio 42.62 40.04 31.22 24.12 27.40Investments Turnover Ratio 18.59 19.04 25.22 27.51 24.85Fixed Assets Turnover Ratio 0.97 0.96 1.19 1.25 1.26Total Assets Turnover Ratio 1.22 1.11 1.23 1.35 1.55Asset Turnover Ratio 1.27 0.96 1.19 1.25 1.26Average Raw Material Holding 39.41 44.39 37.17 33.05 21.34Average Finished Goods Held 7.09 8.05 7.01 6.45 7.17Number of Days In Working Capital -21.75 -63.76 -54.17 -17.02 -18.25
    • Dec 11 Dec 10 Dec 09 Dec 08 Dec 07 Profitability RatiosOperating Profit Margin(%) 18.42 21.42 31.95 24.66 28.15Profit Before Interest And Tax Margin(%) 12.97 15.86 27.22 20.01 23.24Gross Profit Margin(%) 13.33 16.29 27.68 20.59 23.72Cash Profit Margin(%) 15.03 17.36 23.61 19.22 21.57Adjusted Cash Margin(%) 15.03 17.36 23.61 19.22 21.57Net Profit Margin(%) 13.78 14.26 19.69 16.29 20.44Adjusted Net Profit Margin(%) 13.78 14.26 19.69 16.29 20.44Return On Capital Employed(%) 19.60 20.75 35.80 31.43 39.84Return On Net Worth(%) 18.42 17.31 26.70 24.61 34.64Adjusted Return on Net Worth(%) 13.48 15.00 26.32 23.05 29.16Return on Assets Excluding Revaluations 383.09 344.59 320.45 262.56 221.33Return on Assets Including Revaluations 383.09 344.59 320.45 262.56 221.33Return on Long Term Funds(%) 19.60 20.78 35.80 31.43 39.98
    • Profit & Loss Account RatiosMaterial Cost Composition 20.92 19.88 15.37 16.32 26.73Imported Composition of Raw Materials Consumed 7.79 13.74 15.72 9.83 6.49Selling Distribution Cost Composition 19.85 18.79 17.37 19.05 18.55Expenses as Composition of Total Sales 0.14 0.67 0.69 0.99 1.29Cash Flow Indicator RatiosDividend Payout Ratio Net Profit 46.10 59.61 31.43 36.20 30.49Dividend Payout Ratio Cash Profit 33.93 44.14 25.92 29.13 25.13Earning Retention Ratio 37.00 31.22 68.11 61.35 63.78Cash Earning Retention Ratio 57.72 51.03 73.78 69.30 71.10AdjustedCash Flow Times 0.35 0.38 0.29 0.34 0.20 Dec 11 Dec 10 Dec 09 Dec 08 Dec 07Earnings Per Share 70.59 59.66 85.58 64.62 76.67Book Value 383.09 344.59 320.45 262.56 221.33 Source : Dion Global Solutions Limited
    • Ratios Acc Ambuja Madras India Grasim cement Profitability RatiosOperating Profit Margin(%) 18.42 22.92 29.52 21.49 25.36Profit Before Interest And 12.97 17.25 21.68 15.44 21.16Tax Margin(%)Gross Profit Margin(%) 13.33 17.67 21.77 15.51 22.44Cash Profit Margin(%) 15.03 17.90 19.73 12.97 21.93Adjusted Cash Margin(%) 15.03 17.90 19.73 12.97 21.93Net Profit Margin(%) 13.78 14.16 11.71 6.93 22.45Adjusted Net Profit 13.78 14.16 11.71 6.93 22.45Margin(%)Return On Capital 19.60 20.96 17.44 10.59 14.48Employed(%)Return On Net Worth(%) 18.42 15.28 18.78 7.21 12.93Adjusted Return on Net 13.48 13.79 19.26 7.30 11.05Worth(%)Return on Assets Excluding 383.09 52.38 86.16 132.13 992.19RevaluationsReturn on Assets Including 383.09 52.38 86.16 132.13 992.19RevaluationsReturn on Long Term 19.60 21.05 20.45 12.06 14.57Funds(%)
    • Liquidity And Solvency RatiosCurrent Ratio 0.87 1.14 0.38 0.95 1.19Quick Ratio 0.58 0.85 0.34 1.35 0.81Debt Equity Ratio 0.07 0.01 1.03 0.56 0.07Long Term Debt Equity Ratio 0.07 0.01 0.73 0.37 0.06Debt Coverage RatiosInterest Cover 15.58 32.35 4.58 2.34 37.96Total Debt to Owners Fund 0.07 0.01 1.03 0.56 0.07Financial Charges Coverage 20.49 40.81 6.16 3.22 41.84RatioFinancial Charges Coverage 19.58 32.81 5.01 2.90 36.59Ratio Post Tax
    • Management Efficiency RatiosInventory Turnover Ratio 18.59 10.38 16.82 8.98 8.88Debtors Turnover Ratio 42.62 45.92 16.63 18.11 10.00Investments Turnover Ratio 18.59 10.38 16.82 8.98 8.88Fixed Assets Turnover Ratio 0.97 0.88 0.58 0.69 1.59Total Assets Turnover Ratio 1.22 1.05 0.80 0.71 0.51Asset Turnover Ratio 1.27 0.88 0.75 0.65 0.53Average Raw Material 39.41 15.54 112.89 -- 48.48HoldingAverage Finished Goods 7.09 5.97 6.01 -- 18.20HeldNumber of Days In Working -21.75 20.84 -83.23 102.55 28.14Capital
    • Profit & Loss AccountRatiosMaterial Cost Composition 20.92 19.49 19.14 13.96 53.29Imported Composition of 7.79 12.18 2.15 9.07 41.75Raw Materials ConsumedSelling Distribution Cost 19.85 19.85 19.02 24.16 0.49CompositionExpenses as Composition 0.14 0.94 0.42 0.06 2.84of Total SalesEarnings Per Share 70.59 8.01 16.18 9.54 128.34 86.16Book Value 383.09 52.38 132.42 992.19 Source : Dion Global Solutions Limited