managerial accounts : financial statements for aptech ltd
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1
Financial Statements
For
Aptech Ltd.
By
12058 – Megha Thakkar
12098 – Rahul Dave
12102 – Ramandeep Virk
12106 – Renzil D’cruz
12107 – Rishabh Mehta
12136 – Sonia Naik
Submitted to
Prof.L.N.Chopde
2
INDEX
Sr
No. Topic
Page
No.
1 Introduction 3
2 Company Achievement 5
3 Short Introduction of Financial
Statement 5
4 Balance Sheet 7
5 Graph & Analysis 8
6 Profit & Loss Account 13
7 Graph & Analysis 15
8 Conclusion 17
3
Aptech Ltd
Aptech commenced its education and training business in 1986 and has globally
trained over 6.4 million students. Aptech is an ISO 9001:2000 organization and the
first IT Training and Education company to get this certification for Education
Support Services in 1993.
Aptech has presence in more than 40+ emerging countries through its two main
streams of businesses – Individual training and Enterprise Business. As a leader in
career education, it has over 1305 centres of learning across the world.
Under Individual Training, Aptech offers career and professional training through its
Aptech Computer Education, Arena Animation & Maya Academy of Advanced
Cinematic (both in Animation & Multimedia), Aptech Hardware & Networking
Academy, Aptech Aviation & Hospitality Academy and Aptech English Learning
Academy brands.
Enterprise business includes Content Development (Aptech Learning Services),
Training and Assessment Solutions for Corporate & Institutions (Aptech Training
Solutions, Aptech Assessment & Testing Solutions).
Aptech Limited (BSE: 532475, NSE: APTECHT) is a global retail and corporate
training company with headquarters in Mumbai, India. The company commenced its
IT training business in 1986 and has trained over 5 million students.
In 1993, Aptech became the first IT training organization in Asia to receive the ISO
9001 quality certification for Education Support Services. The company has grown
and diversified into various education-related businesses and its stock is listed on the
BSE and the NSE.
It was also featured in the '2009 Global Top 20 IT Training organizations' list
Competitors
There are many online education organizations in India. Of those, Educomp Solutions,
EdServ Softsystems Limited, Everonn Education and NIIT are Aptech's main
competitors.
4
Corporate social responsibility
Aptech is associated with "Project Saraswati" for IT Literacy and "Project Srishti" for
Multimedia Training. Under these two projects, Aptech provides free-of-cost training
to underprivileged children at various Aptech and Arena centres.
Aptech’s N-Power Hardware & Networking training brand, meanwhile, conducts
training for deaf children. Arena organizes Graphic Designing and Personality
Development programs for underprivileged children.
Aptech Computer Education, the flagship brand of Aptech Ltd., has entered into an
alliance with Middlesex University to provide advance entry to students doing Aptech
Certified Computer Professional (ACCP) course in the final year of B.Sc. (Honours) at
their London, Dubai or Mauritius Campus.
Retail Business
IT training & education Animation & multimedia training
High-end 3D animation &VFX education Aviation, Hospitality
Travel & Tourism
5
Hardware & Networking education International IT & multimedia training
English language training
Corporate Business
Corporate training & training outsourcing Assessment solutions for
universities & corporate
Customised content development
6
Aptech’s rapid growth has led the company to mark several milestones
in India & overseas.
Among the top few are:
IT & Multimedia education pioneer. More than 2 decades of experience in training
(since 1986). Trained over 6.4 million students.
First IT education & training company in Asia to receive the ISO 9001: 2000
quality certifications.
Aptech Learning Services receives two ‘Apex 2010 - Awards for Excellence’.
Aptech Vietnam declared No. 1 IT training provider in Vietnam for 7 consecutive
years.
Among Brand Equity’s Top 50 Most Trusted Service Brands.
Among Forbes Global Best 300 Small Companies worldwide.
Financial Statements
Financial statements include P&L A/c &B/s sheet is prepared to find out
financial status of the organisation.
Financial statements of proprietary organisation include trading A/c, P&L A/c
& B/S. But financial statements of company include P&L statement & B/S.
Financial Statements are to be prepared as per the prescribe format as let down
by revised Schedule VI of the Companies Act.
7
Balance Sheet
Mar ' 12 Mar ' 11 Mar ' 10
Sources of funds
Owner's fund
Equity share capital 48.79 48.77 46.55
Share application money 0.13 0.13 0.14
Preference share capital - - -
Reserves & surplus 216.18 216.48 180.52
Loan funds
Secured loans - - 23.81
Unsecured loans - - -
Total 265.10 265.39 251.01
Uses of funds
Fixed assets
Gross block 46.90 103.60 101.67
Less : revaluation reserve - - -
Less : accumulated
depreciation 18.55 72.75 65.32
Net block 28.35 30.84 36.35
8
Mar ' 12 Mar ' 11 Mar ' 10
Capital work-in-progress 0.15 0.61 0.18
Investments 92.70 152.00 117.49
Net current assets
Current assets, loans &
advances 176.45 135.33 133.27
Less : current liabilities &
provisions 32.56 53.40 36.28
Total net current assets 143.89 81.93 97.00
Miscellaneous expenses not
written - - -
Total 265.10 265.39 251.01
Notes:
Book value of unquoted
investments 92.70 152.00 117.49
Market value of quoted
investments - - -
Contingent liabilities 7.85 17.71 10.46
Number of equity share
outstanding (Lacs) 487.91 487.71 465.50
9
Balance Sheet
The B/S is a statement of financial position of an organisation. It is a statement
of sources & application of funds.
It shows the sources from where the funds are be raised are be raised & the
application where funds are been employed.
It is a statement of assets & liabilities of an organisation.
Owners Fund
When the capital is raised by a firm through issue of common shares are called
equity share capital and generally the equity share holders are the owners of the
business. In the given data we can see that Equity Shares have grown to 0.02%
from the year 2011.
Share application money is the application money received from the shareholders.
It can be seen that it had been same throughout the years 2011 and 2012.
Reserve and Surplus is nothing but amount kept out of profits for future
contingencies. Contingencies mean future losses. Reserve and surplus have
dropped to 0.3% from the year 2011.
Euity share capitalShare application
moneyPreferene share
capitalReserves & surplus
2012 48.79 0.13 0 216.18
2011 48.11 0.13 0 216.48
2010 46.55 0.14 0 180.52
0
50
100
150
200
250
2012
2011
2010
10
Loan Funds
Loans and advances are the loan which is taken from banks or various other
sources.
They are basically two types of loans
Secured loans
Unsecured loans
Secured loans are the loans which are secured or which are given certain
securities.
Unsecured loans are the loans which are not secured i.e. any securities are not
given.
The above data shows that the company has repaid all the loans both secured &
unsecured loans.
Secured loan Unsecured Loan
2012 0 0
2011 0 0
2010 23.81 0
0 0 0 0
23.81
0 0
5
10
15
20
25
30
2012
2011
2010
11
Fixed Assets
Source of funds are basically the total capital employed.
Total capital employed= owners fund + loan funds.
It has been dropped marginally to 0.29% from 2011.
Fixed Assets it is also known as non - current assets as it cannot be converted
into cash. It has been dropped to 2.49% as they have sold one of its machinery.
Capital work in progress is the cost of capital work in progress on that date of
balance sheet. It has been reduced to 0.46% from the year 2011.
Investment is putting money into shares, debentures, govermnent bonds with
the expectation of gain, usually over a longer term. It has been reduced to
59.3% from the year 2011.
Gross blockLess:
revaluationrserve
Less:accumulateddepreciation
Net blockCapital work-in-progress
Investments
2012 46.9 0 18.55 28.35 0.15 92.7
2011 103.6 0 72.75 30.84 0.61 152
2010 101.67 0 65.32 36.35 0.18 117.49
0
20
40
60
80
100
120
140
160
2012
2011
2010
12
Net Current Assets
Net current assets are nothing but current assets, loans and advances- current
liabilities. Current assets are that assets which can easily get converted into
cash.
Current liabilities is nothing but which are to be paid or can become payable in
a short period. It has been increased to 61.96 % from the year 2011.
Current assets,loans & advances
Les: currentliabilities &provisions
Total net currentassets
Miscellaneousexpenses not
written
2012 176.45 32.56 143.89 0
2011 135.33 53.4 81.93 0
2010 133.27 36.28 97 0
0
20
40
60
80
100
120
140
160
180
200
2012
2011
2010
13
Profit & Loss Account
Mar ' 12 Mar ' 11 Mar ' 10
Income
Operating income 90.95 94.15 123.79
Expenses
Material consumed - - -
Manufacturing expenses 28.44 25.52 29.00
Personnel expenses 23.84 24.85 32.93
Selling expenses 7.85 7.29 10.69
Administrative expenses 15.45 19.05 28.00
Expenses capitalised - - -
Cost of sales 75.58 76.72 100.62
Operating profit 15.37 17.43 23.18
Other recurring income 10.25 3.70 3.86
Adjusted PBDIT 25.63 21.13 27.04
Financial expenses 0.27 2.46 3.56
Depreciation 7.04 8.87 12.70
Other write offs - - -
Adjusted PBT 18.32 9.81 10.78
14
Mar ' 12 Mar ' 11 Mar ' 10
Tax charges 0.01 0.47 32.82
Adjusted PAT 18.31 9.34 -22.05
Nonrecurring items -2.10 -2.01 88.78
Other non cash adjustments 2.00 0.56 3.26
Reported net profit 18.20 7.89 70.00
Earnings before appropriation 82.63 79.38 77.12
Equity dividend 17.01 12.19 4.83
Preference dividend - - -
Dividend tax 63.79 1.98 0.80
Retained earnings 1.82 65.21 71.49
15
Operating Income
Operating income has been dropped to 3.2% from the year 2011.
Aptech's business strategy of achieving "Profitable Growth" has continued to
help the Company post good results in FY2011-12.
Profit before Tax (PBT) before exceptional items was Rs 765.73 million in
FY2011-12, representing a growth of 76.3%.
Profit after Tax (PAT) at Rs 760. 38 million was almost 69% higher as
compared to the previous fiscal year.
While Operating Income for the year dropped by 8.6%, the Operating EBITDA
for the year improved by 12.7% over the previous year.
Change in revenue accounting policy for MAAC, closure of Own centres and
increasing competition in the Indian vocational business segment especially IT,
multi-media and animation impacted the revenue
Performance in FY2011-12.
On the positive side, the Company has nearly Rs 1 billion cash in its balance
sheet and zero debt, with the overall exposure to Government business reduced
to single digits.
0
20
40
60
80
100
120
140
Operating Income
2012 90.95
2011 94.15
2010 123.79
2012
2011
2010
16
On the operational side, the Company focused on the International Retail and
Assessment & Testing businesses which delivered positive results. International
revenue (net of China and MAAC) was almost 45% of the total retail revenue.
The Company forayed into the new geographies of Japan, Kyrgyzstan, Malaysia
and Rwanda. The Assessment and Testing business of Aptech successfully
executed the prestigious CMAT 2012 exam for AICTE.
In terms of some of the new initiatives, the Company entered into a partnership
with Hungama Digital Entertainment to target the emerging mobile education
market and also a partnership with TRRAIN foundation to train the retail sector
manpower.
The Company focused on the franchising route and continued to reduce the
emphasis on Own centres.
The Company added 99 more centres taking the total number of centres in India
and abroad (excluding China) to 1046 as of 31st March, 2012.
Aptech continued to carve a niche and receive industry recognition and was
chosen as the 6th most trusted brand in the education category on the basis of
high level of quality, price that the brand commands, popularity, uniqueness of
the product and pride of ownership by Brand Equity, Economic Times, 28th
September, 2011.
17
DIVIDEND
Your Directors are pleased to recommend for your consideration a final.
Dividend of Rs 1.50 per equity share of Rs 10/- for the period ended 31st March,
2012.
An interim dividend of Rs 1.50 per equity share was paid to the shareholders as
approved by the Board of Directors at its meeting held on 20th January, 2012.
With this the total dividend for the year ended 31st March, 2012 will be Rs 3/-
per share (30%).
EMPLOYEES STOCK OPTION SCHEME (ESOS), 2006
Your Company had formulated Employees Stock Option Scheme in 2006 for
the benefit of the employees of the Company and its subsidiaries (including
Non-Executive Directors of the Company).
The said Scheme was approved by the members at the general meeting held on
16th September 2006 and administered by the Remuneration & Compensation
Committee of the Board. Under the said Scheme, 1,81,031 options were
exercised upto the validity of the last phase under the Scheme at an exercise
price of Rs 113/- per equity share, against which 1,81,031 equity shares of the
face value of Rs 10/- each were allotted to the eligible allottees under the
Scheme.
With the final phase, all options granted under the ESOP Scheme 2006 have
been either exercised into corresponding shares by the optionees or have lapsed
as the case may be applicable, and therefore, there are no options whatsoever
outstanding under the Scheme.
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