saurashtracements cvp cogmanalysis version1

8/10/2019 SaurashtraCements CVP COGMAnalysis Version1

1/45

3/31/2014 in crores

EQUITY AND LIABILITIES Note

Shareholder's fund:

Share Capital 2 5,807.02Reserves and Surplus 3 11,056.00

Total 16,863.02

Non Current Liabilities:

Long term Borrowings 4 3,781.27

Other long term borrowings 5 711.65

Long term provisions 6 807.07

Total

Current Liabilities:Short term borrowings 7 574.52

Trade Payables 8 3,475.39

Other current liabilities 9 14,535.59

Short term provisions 10 365.32

Total 18,950.82

Grand Total 41,113.83

Assets

Non- Current Assets: 11

Fixed Assets:

Tangible Assets 18,739.35

Intangible Assets 133.4

Tangible Capital WIP 5,909.51

Intangible Assets under

development Nil

Total 24,782.26

Non-current investments 12 1,499.43

Deferred Tax Assets (net) 13 Nil

Long-term Loans and Advances 14 1,349.57Other Non-current Assets 15 318.78

Total 27,950.04

Current Assets:

Inventories 16 5,674.36

Trade Receivables 17 1,614.08

Cash and Bank Balances 18 4,060.32

Short term Loans and Advances 19 1,449.26

Standalone Balance Sheet for FY 2014, 2013, 201

Saurashtra Cements


2/45

Other Current Assets 20 365.77

Total 13,163.79

Grand total 41,113.83

Note

For the Year Ended

March 31, 2012 in crores

Revenue from operations (gross) 21 48,280.22

Less: Excise duty -4,282.49

Revenue from operations (net) 43,997.73

Other income 22 527.58

Total Revenue 44,525.31

Expenses

Cost of materials consumed 23 3,163.13

Purchases of stock-in-trade 24 1,610.34

Changes in inventories of finished

goods, work-inprogress

and stock-in-trade 25 250.79

Employee benefits expense 26 2,491.20

Finance costs 27 4,469.90

Depreciation and amortization

expense 2,423.63

Less: Amount withdrawn from

revaluation reserve -220.88Impairment loss 0

Other expenses 28 32,385.79

Total Expenses 46,573.90

Profit/(Loss) before exceptional

items and tax -2,048.58

Exceptional items - gain / (loss) Nil

Profit/ Loss before tax -2,048.58

Tax expense 29

Current tax Nil

Deferred tax Nil

Excess provision of FBT written back Nil

Less: MAT Credit Entitlement (Refer

Note 30) Nil

Profit/(Loss) for the year -2,048.58

Earnings per equity share of ` 10

par value per

share

Statement of Profit and Loss for the year ending 2


3/45

Basic and diluted ( Regular Per share) 39 -4.18


4/45

3/31/2013 in crores 3/31/2012 in crores

5807.02 5,807.028984.46 -9,331.95

14791.48 -3,524.93

11,446.47 10,266.03

680.92 633.88

807.67 725.15

12,935.06 11,625.06

572.05 539.78

3,642.65 4,327.40

11,164.16 32,256.27

251.73 228.4

15630.59 37,351.85

43357.13 45,451.98

20,635.66 21,865.69

33.14 42.75

6,358.10 7,727.60

69.75 -

27,096.65 29,636.04

1,499.43 1,499.54

0 3,204.68

1,393.37 1,304.31480.41 422.9

30,469.86 36,067.47

6,666.42 5,446.29

1,407.23 1,819.23

3,420.76 588.64

1,082.62 1,468.67

2


5/45

310.24 61.68

12887.27 9,384.51

43,357.13 45,451.98

Note

For the Year Ended

March 31, 2013 in

crores Note

21 59,957.50 21

-5,924.55

54,032.95

22 1,027.90 22

55,060.85

23 3,495.64 23

24 2,939.66 24

25 -0.71 25

26 2,818.84 26

27 3,338.27 27

3,497.89

-55.320.00

28 3,442.57 28

49,599.73

5,461.12

29 16,115.29 29

21,576.41

30 30

Nil

3,204.68

Nil

Nil

18,371.73

012, 2013, 2014


6/45

40 35.71 40


7/45


8/45

For the Year Ended

March 31, 2014 in

crores

58,544.69

5,408.47

53,136.22

509.49

53,645.71

3,685.35

3,983.82

307.79

3,003.32

1,636.97

2,606.73

18.270.00

36,349.59

51,555.30

2,090.41

Nil

2,090.41

538.68

Nil

538.07

2,089.80


9/45

3.91


10/45

Note 11: Fixed Asset [Refer note i] As at April 1 2013 Additions

Tangible Fixed AssetsFreehold land 239.08 -

239.08 -

Leasehold land 21.45 -

Refer Note (ii) 21.45 -

Buildings and Jetty 6,085.90 25.71

[Refer Note (iii)] 6,004.78 81.12

Plant and equipments 45,413.25 419.03

[Refer Note(iv),(v)] 45,427.13 466.34

Furniture and Fixtures 1,165.57 51.18

1,145.13 26.7

Vehicles 1,480.72 177.15

[Refer Note (vi)] 1,311.67 321.27

Office equipments 544.91 27.96

433.94 140.79

Railway siding,

weighbridge, rolling

stock and locomotive 281.56 -

281.56 -

Current Year 55,232.44 701.03

Previous year 54,864.74 1,036.22

Goodwill 95.27

Computer softwares 99.03 139.68

Current Year 194.3 139.68

Previous year 192.09 2.21

[Refer Note (vii),(viii)]

Current Year 8,341.11 554.28

Previous year 8,384.30 471.37

Computer softwares

Current Year 69.75 -

Previous year - 69.75

Notes:

Note 11 for Fixed Assets- Balance Sheet for Financial Year 2013-2014

i) Gross Block includes 4061.10 crores (Previous year 4345.89 crores) added on revaluation of the H

Company's free-hold and leasehold land, buildings, plant and machinery situated at Ranavav in order t

realistic position of the net replacement cost of such assets, on the basis of valuation made by an exte

which had resulted in a net increase of 5722.61 crores, as at June 30, 1993.

G

Intangible Fixed Assets

Capital work in progress

Tangible Capital WIP

Intangible Capital WIP


11/45

Note 11: Fixed Asset [Refer note i] As at April 2012 Additions

Tangible Fixed Assets

Freehold land 239.08 -

239.08 -


Refer Note (ii) 21.45 -

Buildings and Jetty 6004.78 81.12

[Refer Note (iii)] 5,939.97 64.81

g) Miscellaneous


G

vii) Accounting of Fixed Assets and Borrowing Costs

c) Interest and Finance Costd) Traveling and Conveyance

e) Exchange Rate Fluctuation

Capital work-in-progress includes pre-operative expenses, as under:

a) Technical Consultancy

b) Employee Cost

viii) Impairment of Assets: The Holding Company had incurred an aggregate sum of 7838.15 crores (

Expansion Project Assets, and reflected under Capital Work-in-progress (CWIP). The expenditure inclu

of an imported plant purchased, civil work carried out and pre-operative expenses (including interest c

as shown in Note 11 (vii) above. However, later on in the year 2005, due to several adversities, the pro

suspended. At the year end, based on the assessment of the recoverable amount (net selling price) of

suspended Project and civil works reflected under CWIP carried out by M/s Shinde Engineering Service

consultants, the aggregate provision for impairment of 2490.08 crores (Previous Year 1983.01 cror

507.07 crores (Previous Year 1326.32 crores) for the year, is recognised as required under Accounti

28 on "Impairment of Assets".

f) Transportation Charges

ii) Besides the land specified above, the Holding Company holds other leasehold land for which the Hol

Company pays only ground rent.

iii) Buildings exclude cost of shares held in a Co-operative Society included under Note 12 of Non-curre

iv) Plant and equipments include cost of service line of 33.20 crores (Previous Year 33.20 crores), o

is vested with Paschim Gujarat Vij Company Limited.

v) Plant and equipments include cost of assets of 206.69 crores (Previous Year 206.69 crores), acqu

purchase agreements.

vi) Vehicles include assets financed under hire purchase agreements.


12/45

Plant and equipments 45427.13 466.34

[Refer Note(iv),(v)] 45,606.76 179.22

Furniture and Fixtures 1145.13 26.7

1,168.37 6.08

Vehicles 1311.67 321.27

[Refer Note (vi)] 1,322.41 140.58

Office equipments 433.94 140.79705.88 61.16

Railway siding,



281.56 -

Current Year 54864.74 1036.22


Goodwill 95.27

Computer softwares 96.82 2.21

Current Year 192.09 2.21

Previous year 232.34

[Refer Note (vii),(viii)]

Current Year 8,384.30 471.37


Computer softwares

Current Year - 69.75

Previous year - -Notes:

vi) Vehicles include assets financed under hire purchase agreements.

v) Plant and equipments include cost of assets of 206.69 crores (Previous Year 206.69 crores), acqu

vii) Accounting of Fixed Assets and Borrowing Costs

Capital work-in-progress includes pre-operative expenses, as under:

a. Technical Consultancy

b. Employee Cost

c. Interest and Finance Cost

iv) Plant and equipments include cost of service line of 33.20 crores (Previous Year 33.20 crores), o



Tangible Capital WIP

Intangible Capital WIP

i) Gross Block includes 4345.89 crores, added on revaluation of the Holding Company's land, building

machinery situated at Ranavav in order to reflect a realistic position of the net replacement cost of suc

the basis of valuation made by an external valuer, which had resulted in a net increase of 5722.61 cr

30, 1993.

ii) Besides the land specified above, the Holding Company holds other leasehold land in respect of whi

iii) Buildings excludes cost of shares held in a Co-operative Society included under Note 12 of Non-curr


13/45

Note 11: Fixed Asset [Refer note i] As at April 1 2011 Additions

Tangible Fixed Assets

Freehold land 2,650.53 -


Buildings 3,528.52 64.81

Plant and equipments 45,606.75 179.22

Furniture and Fixtures 1,168.37 6.08

Vehicles 1,322.41 140.58

Office equipments 705.88 61.16

Railway siding,



Current Year 55,285.46 451.85


Goodwill 95.27

Computer softwares 137.07 -

Current Year 232.34 -Previous year 131.5 5.57

Current Year 8,296.92 153.64


Notes:


i) Gross Block includes 4602 crores, added on revaluation of the Holding Companys land, buildings, p

situated at Ranavav in order to reflect a realistic position of the net replacement cost of such assets, o



g. Miscellaneous

viii) Impairment of Assets: The Holding Company had incurred an aggregate sum of 7901.66 crores (

Expansion Project Assets, and reflected under Capital Work-in-progress (CWIP). The expenditure inclu

imported plant purchased, civil work carried out and pre-operative expenses (including interest capital

in Note 11 (vii) above. However, later on in the year 2005, due to several adversities, the project was s

At the year end, based on the assessment of the recoverable amount (net selling price) of the said sus

Project and civil works reflected under CWIP carried out by M/s Shinde Engineering Services, project c

updated from earlier assessment carried out by Holtec Consulting Private Limited as at March 31, 201

for impairment of 1983.01 crores, including 1326.32 crores, (Previous Year Nil), was recognised a

Accounting Standard 28 on "Impairment of Assets".

d. Traveling and Conveyance

e. Exchange Rate Fluctuation

f. Transportation Charges

G


14/45

g) Miscellaneous

For the

Year ended

March 31, 201221 REVENUE FROM OPERATIONS

Sale of Products:

Manufactured Goods 45,859.85

Traded Goods 1,598.82

Total 47,458.67

e) Exchange rate fluctuation

f) Transportation charges

Notes for Income Statement FY ending

2012, 2013, 2014

ix) Accounting Of fixed assets and borrowing costsCapital work-in-progress includes pre-operative expenses, as under:

a) Technical consultancy

b) Employee cost

c) Interest and finance cost

d) Traveling and conveyance

viii) During the year ended March 31, 2012, while adopting the Revised Schedule VI formats, computer

a gross book value of 137.07 crores were transferred from plant and equipments, and included unde

deductions / adjustments above and shown as intangible assets.

valuation made by an external valuer, which had resulted in a net increase of 5722.61 crores, as at Ju

ii) Besides the land specified above, the Holding Company holds other leasehold land in respect of whi

iii) Buildings excludes cost of shares held in a Co-operative Society included under note 12 of non-curr

iv) Plant and equipments include cost of service line of 33.20 crores (previous year 33.20 crores), o

vested with Paschim Gujarat Vij Holding Company Limited.v) Plant and equipments include cost of assets of 206.69 crores (Previous year 206.69 crores), acqu

purchase agreements.vi) Vehicles includes equipment and vehicles financed under hire purchase agreements.

vii) During the year ended March 31, 2012, certain assets which were old and not in use, having gross

548.75 crores (Net book value 57.99 crores) and shown as assets discarded, were retired and are incl

head deductions / adjustments above.


15/45

Sale of Services: 135.93

Other Operating Revenues:

Sale of Power 361.84

Sale of Other Products / Scrap 173.82

Export Entitlements 149.95

Less: Excise Duty -4,282.49

Total 43,997.72

Details of Products Sold

Sale of Manufactured Goods:

Cement 45,814.37

Clinker 45.49

45,859.86

Sale of Traded Goods

Cement 1,239.78

Clinker 359.04

1,598.82

22 OTHER INCOME

Interest Income on:

Fixed Deposits with Banks 52.01

Fixed deposits with a State Financial Corporation Nil

Others 17.41

69.42

Dividends Income from Long-term Investments -

others 0.3Rent Income Nil

Miscellaneous Income (including overheads shared) 46.46

Insurance Claims 81.42

Profit on Sale of Fixed Assets 57.5

Bad Debts Recovered 4.53

Provision for Doubtful Debts no longer required 18.71

Excess Provision Written Back 168.79

Trade Payables Written Back 80.45

527.58

23 COST OF MATERIALS CONSUMED

Raw Materials

Opening Stock of Raw Materials 335.63

Add: Purchases 1,956.06

Less: Closing Stock of Raw Materials -410.87

Total 1,880.82


16/45

Packing Materials:

Opening Stock of Packing Materials 192.72

Add: Purchases 1,163.85

Less: Closing Stock of Packing Materials -74.26

1,282.31

3,163.13

Details of Raw Materials Consumed :

Gypsum 621.52

Fly Ash 631.18

Clinker Purchased 210.94

Iron Ore 156.64

Others 260.54

1,880.82

24 PURCHASES OF STOCK-IN-TRADE

Purchases of Traded Goods:

Cement 1,239.78

Clinker, Coal and Pet Coke 370.56

1610.34

25 CHANGES IN INVENTORIES OF FINISHED

GOODS, WORK-INPROGRESS

AND STOCK-IN-TRADE

Stocks at the end:Finished Goods - Cement 874.41

Work-in-progress - Raw Flour and Clinker 673.24

1,547.65

Less: Stocks at the Beginning

Finished Goods - Cement 1,125.16

Work-in-progress - Raw Flour and Clinker 643.51

Stock-in-trade - Cement 30.89

1,799.56

251.91

Increase / (Decrease) in Excise Duty on Stocks -1.12

250.79

26 EMPLOYEE BENEFITS EXPENSE

(Refer note to Note 28)

Salaries, Wages and Bonus 2,140.51

Contribution to Provident and other Funds 204.01

Gratuity Expense 87.98

Staff Welfare Expenses 58.7


17/45

2,491.20

27 FINANCE COSTS

Interest expense:

On Borrowings 3,309.67

On Others (including on rent arrears 628.52

croresbased (Previous Year NIL) on the Supreme Court

order) 1,139.21

Other Borrowing Costs 21.02

4,469.90

28 OTHER EXPENSES

Stores and Spare Parts Consumed 3,111.62

Power and Fuel 15,928.37

Rent 230.49

Repairs and Maintenance:

Buildings, etc. 67.89

Machinery 1,341.88

Others 254.05

Insurance 133.65

Rates and Taxes 33.45

Raw Material Handling Charges [Refer Note (a)

below] 334.98

Limestone / Marl Raising Charges [Refer Note (a)

below] 752.19

Royalty and Cess [Refer Note (a) below] 798.53

Advertisement, Business Promotional and ServiceCharges 511.97

Freight and Handling Expenses 7,006.27

Commission 460.55

Directors' Fees 12.2

Charity and Donation 1

Traveling and Conveyance 186.44

Legal and Professional Charges 221.39

Net Loss on Foreign Currency Transactions and

Translation

(other than considered as Finance Cost) 87.99

Auditor's Remuneration:

Audit Fees 7.36

Tax Audit Fees 2.65

For Other Services - Certification Work 2.85

Reimbursement of Expenses 0.47

Provision for Doubtful Debts:


18/45

Bad Debts Written Off 80.09

Less: Provision for Doubtful Debts Written Back -80.09

Loss on Sale of Assets 40.43

Assets Discarded / Written Off 57.99

Miscellaneous Expenses 805.3

Cost of Cement Self Consumed [Refer Note (b)below] -6.17

32,385.79

Notes:

a) Employee Benefit Expenses (Note 26) and Other

Expenses (Note 28) include expenses incurred on

cost of

raising and transporting limestone / marl, which are

part of the raw materials, details of which are as

under:

Salaries, Wages and Bonus 54.69

Stores and Spare Parts Consumed 195.46

Repairs and Maintenance to Machinery 20.33

Raw Material Handling Charges 206.69

Limestone / Marl Raising Charges 752.19

Royalty and Cess 789.09

2,018.45

b) Cost of cement self consumed also includes

other non material raw materials costs and

depreciation.

29) EXCEPTIONAL GAIN / (LOSS)Write Backs on One Time Settlement (OTS) with

Government of

Gujarat (GoG) Nil

Interest Income on GSFS Deposit Nil

Interest Write Back on Long Term Debt Nil


19/45

30) In view of the carried forward losses and

unabsorbed depreciation available the Holding

Company is not liable to

tax as per the normal provisions of the Income-tax

Act, 1961. Further, since the Holding Company is

registered

under BIFR, though the net worth of the Holding

Company is positive as at March 31, 2013, as per

the provisions of

Minimum Alternate Tax under Section 115JB of the

Income-tax Act, 1961, the Holding Company is not

liable for tax

for the year in which its net worth has turned

positive.

40) Earnings Per Share

Weighted average number of equity shares of Rs 10each 51,191,065

Net Profit / (Loss) for the year -2,048.58

Less: Dividend payable to OCCPS holders -89.39

Net Profit / (Loss) available to equity shareholders -2,137.97

Basic and diluted earnings per share (in rupees) -4.18


20/45


21/45

As at

March 31,

2014 crores

320.4

144.56

3,104.18227.48

42.43

19.96

59.97

Deductions/Adjustments As at March 31, 2013Up to March

31, 2012 For the year

- 239.08 - -

- 239.08 - -

- 21.45 - -

- 21.45 - -

- 6085.9 3100.07 265.4

- 6004.78 2799.11 300.96

ross Block Depreciation, Amor

revious Year 7901.66 crores) towards

es cost

apitalised)

ject was

he said

s, project

es), including

ing Standard

ding

nt

wnership of which

ired under lease


22/45

480.22 45413.25 28051.85 1714.08

358.85 45427.13 26425.53 1,925.27

6.26 1165.57 614.92 56.18

29.32 1145.13 591.18 52.18

152.22 1480.72 714.52 83.53

151.31 1311.68 685.96 96.01

29.82 544.91 253.04 38.17333.11 433.93 533.45 28.41

- 281.56 264.58 2.38

- 281.56 257.74 6.84

668.52 55232.44 32998.98 2159.75

872.59 54864.74 31,292.92 2,409.67

95.27 95.27

- 99.03 54.07 11.82

- 194.3 149.34 11.82

40.25 192.09 173.62 13.96

514.56 8,341.11 656.69 1,326.32

66.27 8,384.30 656.69 -

- 69.75 - -

- - - -

As at

March 31, 2013

in crores

As at

March 31,

2012

in crores

320.4 320.4

144.56 144.56

3,104.18 3,104.18

ired under hire

wnership of which is

s, plant and

h assets, on

res, as at June

h only groundrent is paid.

ent Investments.


23/45

227.48 227.48

42.43 42.43

19.96 19.96

59.97 59.97

3,918.98 3,918.98

Deductions/Adjustments As at March 31, 2012

Up to March

31, 2011 For the year

- 2,650.53 1,692.51 199.12

- 21.45 - -

- 3,593.33 1,106.60 101.84

358.85 45,427.12 26,425.53 1,925.27

29.32 1,145.13 591.18 52.18

151.31 1,311.68 685.96 96.01

333.11 433.93 533.45 28.41

- 281.55 257.74 6.84

872.59 54,864.72 31,292.97 2,409.67

186.64 55,285.46 28,783.70 2,624.32

95.28 92.89 2.38

40.25 96.82 80.73 11.58

40.25 192.09 173.62 13.96- 137.07 75.37 14.89

66.27 8,384.29 656.69 -

12.4 8,296.92 656.69 -

lant and machinery

the basis of

revious Year 8036.81 crores) towards

es cost of an

ised) as shown

uspended.

ended

nsultants,

a provision

s required under

ross Block Depreciation, Amor


24/45

As at March

31, 2012 in

crores

320.4

144.56

3,104.17

227.48

42.43

19.96

59.97

3,918.97

For the

Year ended

March 31, 2013

For the

Year ended

March 31, 2014

56,082.97 53,983.80

2,939.66 4,057.34

59,022.63 58,041.14

softwares having

r the head

ne 30, 1993.

h only ground

nt investments

wnership of which is

ired under hire

ook value of

uded under the


25/45

241.9 Nil

333.34 128.22

241.21 181.02

118.42 194.31

-5,924.55 5,408.47

54,032.95 53,136.22

55,230.74 50,609.15

852.23 3,374.65

56,082.97 53,983.80

2,939.66 2,356.70

Nil 1,700.64

2,939.66 4,057.34

139.51 168.02

215.63 108.44

15.65 10.13

370.79 286.59

0.31 22.92Nil 24

56.6 52.54

241.92 6.95

63.17 Nil

4.3 Nil

0.58 6.28

204.79 83.01

85.44 27.2

1,027.90 509.49

410.87 1,138.36

2,644.62 1,922.45

-1,138.36 1,023.81

1,917.13 2,037.00


26/45

74.26 147.06

1,651.31 1,650.92

-147.06 149.63

1,578.51 1,648.35

3,495.64 3,685.35

647.52 635.35

796.61 457.04

Nil 235.09

255.62 580.05

217.38 129.47

1,917.13 2,037.00

2,939.66 2,343.08

Nil 1,640.74

2939.66 3,983.82

698.58 866.99

861.09 466.07

1,559.67 1,333.06

874.41 698.58

673.24 861.09

Nil Nil

1,547.65 1,559.67

-12.02 226.61

11.31 81.18

-0.71 307.79

2,350.21 2,695.88

220.34 152.36

142.39 69.19

105.9 85.89


27/45

2,818.84 3,003.32

2,116.47 1,322.06

1,216.54 312.55

5.26 2.36

3,338.27 1,636.97

3,433.68 3,730.59

15,082.55 15,321.92

528.26 236.86

229.68 267.01

1,377.03 1,838.31

355.49 495.38

120.99 118.28

31.76 346.56

386.67 565.78

665.71 747.61

897.45 964.57

1,308.28 1,543.05

6,928.30 7,461.36

700.56 732.71

12.6 15.8

1 28.92

190.11 180.63

228.16 304.31

124.03 98.76

7.33 7.33

2.65 2.65

5.3 3.95

0.3 Nil


28/45

19.64 Nil

-19.64 Nil

42.32 240.45

0.67 181.44

917.7 923.87

-24.18 -23

33,565.46 36,349.59

90.63 80

228.86 275.38

24.36 123.78

227.1 435.21

665.25 747.61

887.39 829.53

2,123.59 2,491.51

12,007.27 Nil

2,693.18 Nil

1,414.84 Nil


29/45

51,191,065 51,191,065

18,371.73 2,089.80

89.39 89.39

18,282.34 2,000.41

35.71 3.91


30/45

Deductions/ Adjustments

Upto March 31,

2014

As at March

31, 2014

As at March

31, 2013

- - 239.08 239.08

- - 239.08 239.08

- - 21.45 21.45

- - 21.45 21.45

- 3,603.53 2,508.08 2,720.43

- 3,365.47 2,720.43 2,904.71

619.77 30,310.11 14,485.22 16,115.62

468.3 29,297.63 16,115.62 17,375.28

17.84 700.2 484.7 498.62

4.15 666.95 498.62 530.2

94.34 734.4 724.67 745.49

62.82 735.23 745.49 597.14

4.97 303.37 263.07 280.38

26.68 264.53 280.38 180.87

- 268.48 13.08 14.6

- 266.96 14.6 16.98

736.92 35,920.09 18,739.35 20,635.67

561.95 34,596.77 20,635.67 -

95.27 - -

- 105.31 133.4

- 200.58 133.4 33.14

- 161.16 33.14

- 2,490.08 5,909.51 6,358.10

- 1,983.01 6,358.10

- - - 69.75

- - 69.75 -

isation and Impairment Net Block


31/45

As at

March 31, 2013 crores

320.4

144.56

3,104.18227.48

42.43

19.96

59.97

Deductions/ AdjustmentsUpto March 31,

2013As at March

31, 2013As at March

31, 2012

- - 239.08 239.08

- - 239.08 239.08

- - 21.45 21.45

- - 21.45 21.45

- 3365.47 2720.43 2904.71

- 3,100.07 2,904.71 3,140.86

isation and Impairment Net Block


32/45

468.3 29297.63 16115.62 17375.28

298.95 28,051.85 17,375.28 19,181.23

4.15 666.95 498.62 530.21

28.43 614.93 530.2 577.19

62.82 735.23 745.49 597.15

67.43 714.54 597.14 636.45

26.68 264.53 280.37 180.9308.8 253.06 180.87 172.43

- 266.96 14.6 16.98

- 264.58 16.98 23.82

561.95 34596.78 20635.66 21,865.71

703.61 32,998.98 21,865.71 -

95.27 - -

- 65.89 33.14 42.75

- 161.16 33.14 42.75

38.24 149.34 42.75

- 1,983.01 6,358.10 7,727.61

- 656.69 7,727.61

- - 69.75 -

- - - -


33/45


34/45

As at

March 31, 2011 in crores

320.4

144.56

3,104.17

227.48

42.43

19.96

59.97

3,918.97


35/45

For the

Year ended

March 31, 2012

For the

Year ended

March 31,

2013

For the

Year ended

March 31, 2014

Direct Material:

Opening Stock of Raw Materials 335.63 410.87 1,138.36

Add: Purchases 1,956.06 2,644.62 1,922.45

Less: Closing Stock of Raw Materials -410.87 -1,138.36 1,023.81

Total 1,880.82 1,917.13 2,037.00

Direct Labor:

Employee Expense 2,491.20 2,818.84 3,003.32

Manufacturing Overhead:

Stores and Spare Parts Consumed 3,111.62 3,433.68 3,730.59

Power and Fuel 15,928.37 15,082.55 15,321.92

Packing Material 1,282.31 1,578.51 1,648.35

Rent 230.49 528.26 236.86

Repairs and Maintenance:

Buildings, etc. 67.89 229.68 267.01

Machinery 1,341.88 1,377.03 1,838.31Others 254.05 355.49 495.38

Insurance 133.65 120.99 118.28

Rates and Taxes 33.45 31.76 346.56

Raw Material Handling Charges [Refer Note

(a) below] 334.98 386.67 565.78

Limestone / Marl Raising Charges [Refer Note

(a) below] 752.19 665.71 747.61

Freight and Handling Expenses 7,006.27 6,928.30 7,461.36

Commission 460.55 700.56 732.71

Directors' Fees 12.2 12.6 15.8

Total 30,949.90 31,431.79 33,526.52

Total Manufacturing Cost 35,321.92 36,167.76 38,566.84

Add WIP beginning 643.51 673.24 861.09

Total 35,965.43 36,841.00 39,427.93

Deduct WIP Ending 673.24 861.09 466.07

Cost of Goods Manufactured


36/45

Cost of Goods Manufactured 35,292.19 35,979.91 38,961.86


37/45

For the

Year ended

March 31, 2012

For the

Year ended

March 31, 2013

Finished Goods , April 1 (Beginning) 1,125.16 874.41

Stock in trade , April 1 (Beginning) 30.89 0

Add: Cost of Goods Manufactured 35,292.19 35,979.91

Add: Purchase of Stock in trade 1610.34 2939.66

Cost of Goods available for sale 38,058.58 39,793.98

Finished Goods inventory, March 31 (Closing) 874.41 698.58

Stock in trade inventory, March 31 (Closing) 0.00 0

Sum(COGS and Stock in trade purchased) 37,184.17 39,095.40

Total Stock in trade purchsed 1,641.23 2,939.66

Total Cost of Goods sold 35,542.94 36,155.74

Schedule of Cost of Goods Sold


38/45


39/45

For the

Year ended

March 31, 2014

For the

Year ended

March 31, 2012

698.58

0 Net Sales Revenue 43,997.73

38,961.86

Less: Variable COGS & Operating

Expenses

3,983.82 Direct Materials Used 1,892.59

43,644.26 Indirect Materials Used 4421.4

866.99 Direct Labor costs 2,491.20

0.00 Power & Fuel 15,928.37

42,777.27 Stock in trade items sold 1,641.23

Raw Material Handling Charges 334.98

3,983.82 Limestone / Marl Raising Charges 752.19

38,793.45 Freight and Handling Expenses 7,006.27

Total 34,468.25

Contribution Margin 9,529.48

Less: Fixed COGS & Operating Expenses

Directors' Fees 12.2Insurance 133.65

Buildings, etc. 67.89

Machinery 1,341.88

Other maintenance Expenses 254.05

Depreciation and amortization expense 2,423.63

Rent 230.49

Total 4463.79

Operating Income 5,065.69

Non Operating income 527.58

Less: Non Operating expenses

Finance Cost 21.02

Advertisement, Business Promotional

and Service Charges 511.97

Expenses on Foreign Currency

Transactions and Translation 87.99

Royalty and Cess 798.53

Contribution Income


40/45

Auditor Remuneration 13.33

Legal and Professional Charges 221.39

Charity and Donation 1

Traveling and Conveyance 186.44

Loss on sale of assets 40.43

Assets Discarded / Written Off 57.99

Commission 460.55Miscellaneous Expenses 805.3

Total Non Operating Expenses 3,205.94

Net Non Operating income -2,678.36

EBIT 2,387.33

Less Interest expense 4,448.88

EBT -2,061.55

Current and Deferred Tax 0

Net Income -2,061.55

Exceptional Gain (Refer note 29) 0

Net income modified -2,061.55


41/45

For the

Year ended

March 31, 2013

For the

Year ended

March 31, 2014

Break Even point(in INR)

54,032.95 53,136.22 Contribution Margin Ratio

Operating Income Ratio

1,916.49 2,048.97 Margin of Safety

5010.5 5410.5 Degree of Operating Leverage

2,818.84 3,003.32

15,082.55 15,321.92

2,939.66 3,983.82

386.67 565.78 COGM (assume 100)

665.71 747.61 Raw Material Used

6,928.30 7,461.36 Direct Labor

35,748.75 38,543.32 Manufacturing Overhead

Depriciation/Amortization on

assets

18,284.20 14,592.90

12.6 15.8120.99 118.28

229.68 267.01

1,377.03 1,838.31

355.49 495.38

3,497.89 2,606.73

528.26 236.86

6121.94 5578.37

12,162.26 9,014.53

1,027.90 509.49

5.26 2.36

1,308.28 1,543.05

124.03 98.76

897.45 964.57

Statement CVP A

COGM


42/45

15.58 13.93

228.16 304.31

1 28.92

190.11 180.63

42.32 240.45

0.67 181.44

700.56 732.71917.7 923.87

4,431.12 5,215.00

-3,403.22 -4,705.51

8,759.04 4,309.02

3,333.01 1,634.61

5,426.03 2,674.41

3,204.68 538.68

2,221.35 2,135.73

16,115.29 0

18,336.64 2,135.73


43/45

For the

Year ended

March 31,

2012

For the

Year ended

March 31,

2013

For the

Year ended

March 31,

2014

20609.38 18091.38 20312.18

0.21659 0.33839 0.274632

0.115135 0.22509 0.169649

0.531581 0.665179 0.617734

1.881182 1.503355 1.61882

For the

Year ended

March 31,

2012

For the

Year ended

March 31,

2013

For the

Year ended

March 31,

2014

100 100 100

5.324795 5.30066 5.281739

7.052844 7.793792 7.787312

87.62236 86.90555 86.93095

6.861547 9.671293 6.758993

nalysis

nalysis


44/45

Management Efficiency

Return On Equity (%)

Return On Assets (%)

Return On Capital Employed (%)Fixed Assets Turnover

Profitability & Growth

Gross Profit Margin (%)

Operating Profit Margin (%)

Net Profit Margin (%)

Liquidity

Quick Ratio

Current Ratio

Cash Ratio

Solvency

Debt Equity Ratio

Coverage RatiosCash Flows to Long Term Debt

Financial


45/45

Saurashtra

Cements Ltd Peer Average

12.61 8.68

5.23 4.22

29.05 9.242.19 1.01

Saurashtra


6.1 8.11

10.96 13.33

3.85 -5.16

Saurashtra

Cements Ltd Peer Average0.45 1.94

0.74 2.44

0.2 0.45

Saurashtra


0.27 0.56

Saurashtra

Cements Ltd Peer Average0.94 5.67

trength

saurashtracements cvp cogmanalysis version1

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