workng capital in sugar factory
TRANSCRIPT
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STUDY ON
WORKING C PIT L M N GEMENT T
CHITTOOR CO-OPER TIVE SUG RS LIMITED
A PROJECT REPORT
Submitted in partial fulllment of the
requirement for the award of the degree ofMASTER OF FINANCIA MANA!EMENT
"#
Mr. K. VIJAY KUMAR(Reg.No:3560829030)
Under the valuable Guidance of
Mr. K.S. RAMM.A. (Econ), M.Com., PGDEE, F.C.S, B.G.L.,
F.I.C.W.A, Dip.M.A (Gold Medali!)
Department of MFM
DEPAR"ME#" $F C$MMERCE
SEICOM DEGREE & P.G. COLLEGESRI %E#KA"ESWARA I%ERSI"'
"IR&PA"I *+ -
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SEICOM $E!REE % &'!'
COE!E
SRI %E#KA"ESWARA I%ERSI"'
"IR&PA"I / *+ -
Certi(ateThis is to certify that the project entitle )A
&RO*ECT RE&ORT ON +OR,IN! CA&ITA
MANA!EMENT- AT C.ITTOOR CO/O&ERATI0E
S1!AR FACTOR23 has !een carrie o"t !y Mr' ,'
0I*A2 ,1MAR in partial f"l#ll$ent of the re%"ire$ents
of the a&ar of )MASTER OF FINANCIA
MANA!EMENT3 "ring the acae$ic year 200'2009
in the epart$ent of *o$$erce+ ,.-. ni/ersity+
Tir"pati 51' 502 (..)
4Co/ordinator 4M'F'M55 &ro6e(t !uideT'S1REN$RANAT. RE$$2 Mr' ,'S' RAMepart$ent of *o$$erce epart$ent of *o$$erce,.-. ni/ersity ,.-. ni/ersity
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Tir"pati 51' 502 (..) Tir"pati 51' 502 (..).
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AC,NO+E$!EMENT
I am thankful to my project guide Mr' ,'S' Ram-
Department of Commerce for his valuable guidance and
patience for helping me bring this training report to its
nal form.
I am very much thankful to Mr.G.Babu M.Com,
Project Guide of Chittoor co-operative ugar !actory
for their support and advice in all the stages of the
project.
I ackno"ledge my heart full gratitude to my parents
"ho are al"ays behind me in every moment of my life.
#ast but not least$ I pay thanks to all my friends
"ho are supporting% inspiring and motivating me.
,' 0I*A2
,1MAR No7
89:;;8;
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$ECARATION
4 here !y eclare that this project )A ST1$2 ON
+OR,IN! CA&ITA MANA!EMENT3 at the *hittoor
*ooperati/e ,"gar actory+ *hittoor is oing one !y$e "ring e!r"ary arch 2009. The analysis 7
#nings in this report are !ase on the infor$ation
collecte !y $e. 4 ha/e not "plicate this fro$ any
earlier reports s"!$itte pre/io"sly !y any!oy+ any
&here 7 this report has not !een s"!$itte for any !y
$e.
,' 0I*A2,1MAR No7
89:;;8;
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Content?
C0ap!er #o. Decrip!ion Pa1e #o.
C0ap!er / I Introdution 1 - 2
Industr! profi"e 3 - 5
Compan! profi"e 6 - #
$rodut $rofi"e % - 12
C0ap!er / II &esearh Methodo"og! 13 - 14
'eed for the stud!
()*etives of the stud!
Soures of data
Sope + Limitations of the stud!
C0ap!er / III Data ,na"!sis and Interpretation 15 - 55
C0ap!er / I%Findings +
Suggestions
56 - 5
Con"usion 5#
,nne.ure 5% - 6#
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/i)"iograph! 6%
#
INTRO$1CTI
ON
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INTRODUCTION
Financial Management is that managerial activity hich is c!ncerne" ith the
#lanning an" c!ntr!lling !$ the $irm%s $inance. Finance is !ne !$ the $!&n"ati!ns !$ all
'in"s !$ ec!n!mic activities. Finance is the li$e()l!!" !$ a )&siness. The $inancial
management st&"y "eals ith the #r!cess !$ #r!c&ring necessary $inancial res!&rce
an" their *&"ici!&s &se ith a vie t! ma+imi,ing the val&e !$ the $irm an" there )y the
val&e !$ the !ners i.e. e-&ity share h!l"ers in a c!m#any. Practicing managers are
interest in this s&)*ect )eca&se am!ng the m!st cr&cial "ecisi!ns !$ the $irm are th!se
hich relate t! $inance an" an &n"erstan"ing !$ the the!ry !$ $inancial management
#r!vi"es them ith c!nce#t&al an" analytical insights t! ma'e th!se "ecisi!ns s'ill$&lly.
FINANCIAL MANAGEMENT
Financial Management emerge" as a "istinct $iel" !$ st&"y at the t&rn !$ this
cent&ry many eminent #ers!ns "e$ine" it in the $!ll!ing ays.
DEFINITIONS: -
Acc!r"ing the /O00EVI1E A02 2E3EY45 Financing c!nsists in the rising
#r!vi"ing an" managing !$ all the m!ney ca#ital !r $&n"s !$ any 'in" t! )e &se" in
c!nnecti!n ith the )&siness5.
Acc!r"ing t! Pr!$.E6RA 7O1OMA045Financial Management is c!ncerne" ith
the e$$icient &se !$ any im#!rtant ec!n!mic res!&rce namely ca#ital $&n"s5.
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FI#A#CE FC"I$#S2
It may )e "i$$ic< t! se#arate the $inance $&ncti!ns $r!m #r!"&cti!n mar'eting
an" !ther $&ncti!ns )&t the $&ncti!ns themselves can )e rea"ily i"enti$ie". The
$&ncti!ns !$ raising $&n"s investing them in assets an" "istri)&ting ret&rns earne" $r!m
assets t! shareh!l"ers are res#ectively 'n!n as.
8. 1!ng 9 term assets(mi+ :!r; Investment 2ecisi!n
. 7h!rt 9 term asset 9Mi+ :!r; 1i-&i"ity 2ecisi!n
GOALS OF FINANCIAL MANAGEMENT
Ma+imi,e the val&e !$ the $irm t! its e-&ity shareh!l"ers.
Ma+imi,ati!n !$ #r!$it
Ma+imi,ati!n !$ earnings #er share.
Ma+imi,ati!n !$ ret&rn !n e-&ity :"e$ine" as e-&ity earnings?net !rth;
Maintenance !$ li-&i" assets in the $irm.
Ens&ring ma+im&m !#erati!nal e$$iciency thr!&gh #lanning "irecting an"
c!ntr!lling !$ the &tili,ati!n !$ the $&n"s.
/&il"ing !$ a"e-&ate reserves $!r $inancing gr!th an" e+#ansi!n 0
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INDUSTRY PROFILE
7&gar cane is !ne !$ the im#!rtant cr!#s $!r the In"ian $armer. 7&gar an"
Jiggery are the main #r!"&cts that e get $r!m 7&garcane. Other #r!"&cts s&ch
as /i!gases $!r in"&strial &se M!lasses $!r "istillery $ilter ca'e M&" as an
!rganic man&re an" green leaves ith t!#s $!r cattle $ee" are als! availa)le as
)y #r!"&cts )eca&se !$ it%s m<i &ses 7&garcane has #laye" cr&cial r!le in
In"ian ec!n!my ith rs.@ mills #r!vi"ing
assistance t! > milli!n s&gar cane $armers an" < milli!n 7&garcane $armers an"
< milli!n !r'men "irectly an" in"irectly.
In A.P. s&gar in"&stry is an im#!rtant Agr!()ase" in"&stry !ccying thesec!n" #!siti!n ne+t t! te+t tile in"&stry. The ann&al c<ivate" area is a)!&t 8.BB
lac' hectares ith a yiel" !$ 8>B.> lac's !$ t!nes "&ring B(BD. At #resent
there are = s&gar $act!ries in the state an" @ !$ them are in c!(!#erative
sect!r. The c!(!#erative s&gar &nits in the states have )een s&$$ering "&e t! lac'
!$ a"e-&ate cane irrigati!n $acilities !r'ing ca#ital )y(#r!"&ct &tili,ati!n
e+cessive em#l!yment etc..
The s&gar in"&stries hich #r!vi"e "irect em#l!yment t! a)!&t = lac's
#ers!ns !$ s&gar cane $!ll!e" )y /ra,il C&)a. 7&gar cane e+iste" in In"ia
$r!m =@@@ /.C. The centre #lace !$ !rigin !$ s&gar cane regar"e" as
0!rtheastern In"ian $r!m s&gar cane seems t! have )een t! China an" !ther
#laces )y early travelers an" n! man%s )eteen 8G@@ an" 8D@@ /.C. later. It as
#enetrate" t! Phili##ines Jea an" !ther #laces. Act&ally the !r" s&gar
"erive" $r!m a 7ans'rit !r" Hsha'ra5.
In"ia as the !rl"%s largest #r!"&cer !$ s&gar cane !ccies a very #ri"e
#lace in the !rl". In In"ia the c<ivati!n !$ s&gar cane is 8@@@@ miles t!nes.
The average yiel" )eing t!nes #er acre !$ t!tal c<ivating lan" is !ccie" )y
s&gar cane c<ivati!n. 7&garcane is gr!n in alm!st all #art !$ In"ia e+ce#t in
c!l"er regi!ns an" e+treme 0!rth Jamm& Kashmir imachal Pra"esh.
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Area wise distribution of suar industr! in A"P"
7.0! 7ect!r 0!. !$ in"&stries
C!stal Area Rayalaseema Telangana
8 C!(!#erative 8G 8< > . The terms !$ re$erence !$ the c!mmittee ere4
T! s&ggest g&i"elines $!r c!mmercial )an's t! $!ll! an" servise
cre"it $r!m the #!int !$ vie !$ ens&ring #r!#er en" &se !$ $&n"s an" 'ee#ing a
atch !n the sa$ety !$ a"vances.
T! s&ggest the ty#e !$ !#erati!nal "ata an" !ther in$!rmati!n that may
)e !)taine" )y )an's #eri!"ically $r!m the )!rr!ers an" )y the reserve )an' !$
In"ia $r!m the lea"ing )an's.
T! ma'e s&ggesti!ns $!r #rescri)ing invent!ry n!rms $!r the "i$$erent
in"&stries )!th in the #rivate an" #&)lic sect!rs an" in"icate the )r!a" criteria
$!r "eviating $r!m these n!rms.
T! ma'e rec!mmen"ati!ns regar"ing res!&rces $!r $inancing the
minim&m !r'ing ca#ital re-&irements.
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D/(&S
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T! s&ggest criteria regar"ing satis$act!ry ca#ital str&ct&re an" s!&n"
$inancial )asis in relati!n t! )!rr!ings.
T! ma'e rec!mmen"ati!ns as t! hether the e+isting #attern !$
$inancing !r'ing ca#ital re-&irements )y cash cre"it?!ver"ra$t system etc.
re-&ires t! )e m!"i$ie" i$ s! t! s&ggest s&ita)le m!"i$icati!ns.
CRETERIA FOR .UDGING T-E EFFICIENCY OF 1OR2ING CAPITAL
MANAGEMENT/0
The e$$iciency !$ !r'ing ca#ital management can )e *&"ge" thr!&gh
acc!&nting rati!s. The im#!rtant acc!&nting rati!%s that c!&l" )e &se" $!r *&"ging
the e$$iciency !$ !r'ing ca#ital management are4
C&rrent rati!
&ic' rati!
Invent!ry t&rn!ver rati!
C&rrent assets t&rn!ver rati!
Cash #!siti!n rati!
3!r'ing ca#ital t&rn!ver rati!.
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SC-EDULE OF C-ANGES IN 1OR2ING CAPITAL FOR T-E YEAR 3==30=6
PARTICULARS 3==3 3==6
Effe%t of wor)in %a&ita'
In%rease De%rease
CURRENT ASSETS/
Cas$ on $and 7348>">4 43?6>?="37 4374?3="66 0000000000000
*a'an%es wit$ ban) 7>7>86"49 7=>836>"39 69==3?9"4= 0000000000000
Interest Re%ei+ab'e 4?397??"8: 4?397??"8: 000000000000 000000000000
C'osin sto%) 3>39>3489"3= 34>993?=6":= 000000000000 :6=3>683"8=
Tota' %urrent assets 0A 3>8=88:8:"?= 339?9?844":=LIA*ILITIES/
Out standin Interest 773>?3>"78 9=>77::">= 000000000000 499797?"78
Tota' %urrent 'iabi'ities 0* 773>?3>"78 9=>77::">=
1or)in Ca&ita' @A0*# 3>=938>3?"6= 33=::7=66"?=
Net de%rease in wor)in
Ca&ita'
9>?84?>7"8= 9>?84?>7"8=
3>=938>3?"6= 3>=938>3?"6= :79>7===">8 :79>7===">8
INTERPRETATION/
The net !r'ing ca#ital re-&irement !$ the c!m#any "&ring the year
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SC-EDULE OF C-ANGES IN 1OR2ING CAPITAL FOR T-E YEAR 3==60=7
PARTICULARS 3==6 3==7
Effe%t of wor)in %a&ita'
In%rease De%rease
CURRENT ASSETS/
Cas$ on $and 43?6>?="37 338:8"3= 000000000000 43947=8"=7
*a'an%es wit$ ban) 7=>836>"39 48??44?>"7? 44:?8>8="33 000000000000
Interest Re%ei+ab'e 4?397??"8: 4?397??"8: 000000000000 000000000000
C'osin sto%) 34>993?=6":= >9?7>:7="3: 000000000000 433?46=96"7=
Tota' %urrent assets 0A 339?9?844":= 4478:>>>6"8=
LIA*ILITIES/Out standin Interest 9=>77::">= 3:4>=9??"7= 000000000000 34=>934="8=
Tota' %urrent 'iabi'ities 0* 9=>77::">= 3:4>=9??"7=
1or)in Ca&ita' @A0*# 33=::7=66"?= ?:6?>6=8"4=
Net de%rease in wor)in
Ca&ita'
4666?7:3?":= 4666?7:3?":=
33=::7=66"?= 33=::7=66"?= 4784:=9:?">= 4784:=9:?">=
INTERPRETATION/
The net !r'ing ca#ital re-&irement !$ the c!m#any "&ring the year
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Cas$ on $and 338:8"3= 4?:?>64"=9 4?89688"?9 0000000000000
*a'an%es wit$ ban) 48??44?>"7? 4?47==6:"7> 338??7?"=4 0000000000000
Interest Re%ei+ab'e 4?397??"8: 4?397??"8: 000000000000 0000000000000
C'osin sto%) >9?7>:7="3: 44==7648>"== 464>674?":6 0000000000000
Tota' %urrent assets 0A 4478:>>>6"8= 464???949"4=
LIA*ILITIES/
Out standin Interest 3:4>=9??"7= 7=838:>?"7= 000000000000 4666844="==Tota' %urrent 'iabi'ities 0* 3:4>=9??"7= 7=838:>?"7=
1or)in Ca&ita' @A0*# ?:6?>6=8"4= >4693?4:":=
Net In%rease in wor)in
Ca&ita'
6>:6843"9= 6>:6843"9=
>4693?4:":= >4693?4:":= 4:6=?933"9= 4:6=?933"9=
INTERPRETATION/
The net !r'ing ca#ital re-&irement !$ the c!m#any "&ring the year 64"=9 47434?"?= 00000000000000
4:6::43"3=
*a'an%es wit$ ban) 4?47==6:"7> :387>76"47 00000000000000 4=??8=>7"68
Interest Re%ei+ab'e 4?397??"8: 4?397??"8: 00000000000000 00000000000000
C'osin sto%) 44==7648>"== 6=797477>"8= 4>78>?3>="8= 00000000000000
Tota' %urrent assets 0A 464???949"4= 646?974=="==
LIA*ILITIES/
Out standin Interest 7=838:>?"7= 7>=37>??">= 00000000000000 ?7>>4>="8=
Tota' %urrent 'iabi'ities 0* 7=838:>?"7= 7>=37>??">=
1or)in Ca&ita' @A0*# >4693?4:":= 397?6>444"4=
Net in%rease in wor)in
Ca&ita' 4:67:93>6"7= 4:67:93>6"7=
397?6>444"4= 397?6>444"4= 4>78>?3>="8= 4>78>?3>="8=
4%
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INTERPRETATION/
The net !r'ing ca#ital re-&irement !$ the c!m#any "&ring the year 3 000000000000 79468"??
*a'an%es wit$ ban) :387>76"47 4:?7>8?6"74 4=8>797="3: 000000000000
Interest Re%ei+ab'e 4?397??"8: 4?397??"8: 000000000000 000000000000
C'osin sto%) 6=797477>"8= 3?48?34>?"6= 000000000000 36=8>384"3=
Tota' %urrent assets 0A 646?974=="== 6=4686686"3=
LIA*ILITIES/
Out standin Interest 7>=37>??">= 79>3?6=4"97 3=>99?:"39 000000000000
Tota' %urrent 'iabi'ities 0* 7>=37>??">= 79>3?6=4"97
1or)in Ca&ita' @A0*# 397?6>444"4= 387738=84"8=
Net De%rease in wor)in
Ca&ita' 4=747=8>"9= 4=747=8>"9=
397?6>444"4= 397?6>444"4= 364=86?:"=? 364=86?:"=?
INTERPRETATION/
The net !r'ing ca#ital re-&irement !$ the c!m#any "&ring the year
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rec!r"e" R7. >
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(8=@.>8 8>DG@88D. @.B
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INTERPRETATION
The &ic' rati! is )el! satis$act!ry level !$ @4@D< "&ring the year
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T&rn!ver rati! is als! 'n!n as st!c' vel!city. This rati! is calc&late" t!
c!nsi"er the a"e-&acy !$ the -&ant&m !$ ca#ital an" its instit&ti!n $!r investing in
invent!ry.
A $irm m&st have reas!na)le st!c' in ca#aris!n t! sales. It is the rati! !$
c!st !$ sales an" average invent!ry !$. This rati! hel#s the $inancial managers t!
calc&late invent!ry #!licy. This rati! reveals the n&m)er !$ times $inishe" st!c' is
t&rne" !ver "&ring a given acc!&nting #eri!". The rati! is &se" $!r meas&ring the
#r!$ita)ility. These are the vari!&s ays in hich st!c' t&rn!ver rati! may )e
calc&late".
0et sales
Invent!ry t&rn!ver rati! (((((((((((((((((((((((((((((((( Average Invent!ry
YEAR NETSALES A,ERAGEIN,ENTORY
RATIO
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INTERPRETATION
The invent!ries are "ecrease" in
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C&rrent assets t&rn!ver rati! in"icates the e+tent t! hich the investments
in c&rrent assets c!ntri)&te t!ar"s sales. It c!m#!rte" ith a #revi!&s #eri!". It
in"icates hether the investment is $i+e" assets has )een *&"ici!&s !r n!t.
0et 7ales C&rrent assets t&rn!ver rati! (((((((((((((((((((((( C&rrent Assets
YEAR NET SALES CURRENTASSETS
RATIO
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INTERPRETATION
The rati! is increasing c!ntin&!&sly $r!m
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Cash in the m!st li-&i" asset a $inancial analyst may e+amine the rati!n
!$ cash an" its e-&ivalent t! c&rrent lia)ilities. Tra"e investment !r mar'eta)le
sec&rities are e-&ivalent !$ cash there$!re they may )e incl&"e" in the
c!m#&tati!n !$ cash #!siti!n rati!.
CashL mar'eta)le sec&rities Cash P!siti!n Rati! ((((((((((((((((((((((((((((((((((((((((((((( C&rrent lia)ilities
YEAR CA7LMARKETA(/1E7ECURITIE7
CURRE0T1IA/I1ITIE7
RATIO
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INTERPRETATION
The cash #!siti!n rati! is ina"e-&ate as there are s an" "!ns "&ring
the year. The a)!ve rati! in"icates that the c!m#any is &na)le t! -&ic'ly reali,e
its c&rrent lia)ilities it is n!t g!!" en!&gh.
1OR2ING CAPITAL TURNO,ER RATIO
6
,&S
&,4I(S
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INTERPRETATION
This rati! in"icates the n&m)er !$ times the net sales met ith the !r'ing
ca#ital $!r the year. The t&rn!ver !$ the !r'ing ca#ital has highly increasing $r!m
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This rati! in"icates the sales generate" #er ree !$ investment in t!tal assets.
Alth!&ght $i+e" assets are "irectly c!ncerne" ith the generati!n !$ sales. /&t
!ther assets als! c!ntri)&te t! the #r!"&cti!n an" sales activities !$ the $irm. The
$irm m&st manage its t!tal assets e$$iciency an" sh!&l" generate ma+im&m sales
thr!&gh their #r!#er &tili,ati!n.
The t!tal assets t&rn!ver is &se" 'n! h! many times the t!tal assets
are )eing c!nverte" int! sales. I$ sales are n!t availa)le c!st !$ g!!"s is t! )e
c!nsi"ere". It sh!s in h! many times the t!tal sales are )eing c!ncerte" int!
t!tal assets. The rati! is calc&late" )y "ivi"ing the c!st !$ g!!"s s!l" as sales )y
t!tal assets. The general #rinci#le $!r the calc&lati!n !$ this as $!ll!s
7ales
T!tal assets t&rn!ver rati! ((((((((((((((((((
T!tal assets
YEAR NETSALES TOTALASSETS RATIO
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INTERPRETATION
The t!tal asset t&rn!ver rati! increase in
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65
FIN$IN!S%
S1!!ESTIONS
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FINDINGS
In the !ver all eval&ati!n !$ the 3!r'ing Ca#ital Management at each an"
every as#ect the $!ll!ing are the $in"ings.
8. 3!r'ing Ca#ital rati! !$ the chitt!!r C!(!#erative 7&gar 1t" is "ecreasing
in all the years hich in"icate #!!r li-&i"ity #!siti!n !$ the c!m#any.
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SUGGESTIONS
The c!m#any sh!&l" &tili,e the reserves an" s&r#l&s )y either
ca#itali,ing !r invest the m!ney s!me here as investment t! get
)ene$its.
The c!m#any sh!&l" maintain a"e-&ate !r'ing ca#ital
The c!m#any sh!&l" maintain the high li-&i"ity #!siti!n
The c!m#any is &n"er l!ss ,!ne s! it nee"s s!me s&)si"y )y
g!vernment t! "evel!# its #!siti!n.
/y merging the c!m#any ith !ther #r!$ita)le c!m#any the $irm may
Im#r!ve its #er$!rmance.
/y selling m!lasses t! !ther #lant the c!m#any can earn a""iti!nal
#r!$it.
/y &sing the s&gar can scra# the $irm can generate it%s electrically
s#ly.
/y selling the scra# t! )i!(#lants it can generate $&n"s.
6
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6#
CONC1SION
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CONCLUSION
Fr!m the analysis !n the !r'ing ca#ital management at Chitt!!r C!(
!#erative 7&gar 1t" c!ncl&"e in s#ite !$ all s&ggesti!ns the c!m#any has t!
re"&ce its #r!"&cti!n c!st t! increase #r!$it.
The invent!ry t&rn !ver is g!!" in all the $ive years. The c!m#any sh!&l"
try t! increase their sales. It sh!&l" maintain the high li-&i"ity #!siti!n. ence
the s&ggesti!ns given are realistic hich ill lea" t! increase in the #r!$ita)ility !$
the c!m#any. The c!m#any sh!&l" try t! ta# the mar'et an" set in )ran" val&e
an" "! the )est.
6%
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ANNE@1RE
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T-E C-ITTOOR CO0OPERATI,E SUGARS LIMITED// C-ITTOOR
TRADING ACCOUNT FOR T-E YEAR 3==6
PARTICULARS AMOUNT Rs" Ps"
PARTICULARS AMOUNTRs" Ps"
8.OPE0I0 7TOCK4 a; 7&gar
); M!lasses
. C!st !$ #r!"&cti!nTrans$erre" $r!m
Man&$act&ringa?c
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T-E C-ITTOOR CO0OPERATI,E SUGARS LIMITED // C-ITTOOR
*ALANCE S-EET AS ON 3==6
LIA*ILITIES Rs" ASSETS Rs"8. 7hare ca#ital
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T-E C-ITTOOR CO0OPERATI,E SUGARS LIMITED// C-ITTOOR
TRADING ACCOUNT FOR T-E YEAR 3==7
PARTICULARS AMOUNT Rs" Ps"
PARTICULARS AMOUNTRs" Ps"
8.OPE0I0 7TOCK4 a; 7&gar
); M!lasses
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T-E C-ITTOOR CO0OPERATI,E SUGARS LIMITED // C-ITTOOR
*ALANCE S-EET AS ON 3==7
LIA*ILITIES Rs" ASSETS Rs"8. 7hare ca#ital
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T-E C-ITTOOR CO0OPERATI,E SUGARS LIMITED// C-ITTOOR
TRADING ACCOUNT FOR T-E YEAR 3==8
PARTICULARS AMOUNT Rs" Ps"
PARTICULARS AMOUNTRs" Ps"
8.OPE0I0 7TOCK4 a; 7&gar
); M!lasses
. C!st !$ #r!"&cti!nTrans$erre" $r!m
Man&$act&ringa?c
D@@>>.8@
=.G=
88=D.8>
(((((((((((((((((((((
8BGBGD
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Chittoor Co-operative Sugars Limited
T-E C-ITTOOR CO0OPERATI,E SUGARS LIMITED // C-ITTOOR
*ALANCE S-EET AS ON 3==8
LIA*ILITIES Rs" ASSETS Rs"8. 7hare ca#ital
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Chittoor Co-operative Sugars Limited
T-E C-ITTOOR CO0OPERATI,E SUGARS LIMITED// C-ITTOOR
*ALANCE S-EET AS ON 3==9
LIA*ILITIES Rs" ASSETS Rs"8. 7hare ca#ital
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Chittoor Co-operative Sugars Limited
T-E C-ITTOOR CO0OPERATI,E SUGARS LIMITED// C-ITTOOR
*ALANCE S-EET AS ON 3==:
LIA*ILITIES Rs" ASSETS Rs"8. 7hare ca#ital
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#1
"I"IO!RA&.2
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