Coal India

INDEX
S.NO. CHAPTER PAGE NO.
1 PROFILE OF THE COMPANY
2 FINANCIAL ANALYSIS
3 STATISTICAL ANALYSIS
4 SUMMARY OF FINDINGS & SUGGESTIONS
5 CONCLUSION
6 BIBLIOGRAPHY
7 ANNEXURE
1
CHAPTER – 1
INTRODUCTION
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COAL INDIA LIMITED
Coal India Limited (CIL) the state-owned coal mining corporate came into being in
November 1975. With a modest production of 79 Million (MTs) at the year of its inception
CIL today is the single largest coal producer in the world and one of the largest corporate
employers. Operating through 83 mining areas and spread over eight (8) provincial states of
India. CIL is an apex body with 7 wholly owned coal producing subsidiaries and 1 mine
planning and Consultancy Company spread over 8 provincial states of India. CIL also
manages establishments like workshops; hospitals etc. and also own 27 training institutes and
76 Vocational Training Institutes Centre. Indian Institute of Coal Management (IICM) as a
state-of-the-art Management Training ‘Centre of Excellence’ – the largest Corporate Training
Institute in India - operates under CIL and conducts multi-disciplinary management
development program.
CIL is a company - a privileged status conferred by Government of India to select state

owned enterprises in order to empower them to expand their operations and emerge as global
giants. The select club has only ten members out of more than three hundred Central Public
Sector Enterprises in the country.
Coal India Limited (CIL) is an Indian state-owned coal mining and refinery company
headquartered in Kolkata, West Bengal, India. It is the largest coal-producing company in the
world and a PSU.
The company contributes to around 82% of the coal production in India. It produced 554.14
million to of raw coal in 2016-17, an increase from its earlier production of 494.24 million of
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coal during FY2014–15and earned a revenue of ₹95,435 crore (US$13 billion)from sale of
coal in the same financial year. As on 14 October 2015, Union Government of India owns
CIL and controls the operations of CIL through Ministry of Coal. In April 2011, CIL was
conferred the status by the Union Government of India, making it one of the seven with that
status. As on 14 October 2015, its market capitalization was ₹2.11 lakh crore (US$30 billion)
making it India's 8th most valuable company by market value.
CIL ranks 8th among the top 20 firms behind a third of all global carbon emissions.
The producing Indian subsidiary companies of Coal India Limited:
1. Eastern Coalfields Limited (ECL)
2. Bharat Coking Coal Limited (BCCL)
3. Central Coalfields Limited (CCL)
4. Western Coalfields Limited (WCL)
5. South Eastern Coalfields Limited (SECL)
6. Northern Coalfields Limited (NCL)
7. Mahanadi Coalfields Limited (MCL)
One mine planning and consultancy company of Coal India Limited is Central Mine Planning
& Design Institute Limited (CMPDIL). In addition, CIL has a foreign subsidiary in
Mozambique namely Coal India Africana Limited (CIAL). The mines in Assam i.e. North
Eastern Coalfields are managed directly by CIL.
Mahanadi Coalfields Limited has four (4) subsidiaries which are
• MJSJ Coal Limited
• MNH Shakti Ltd
• Mahanadi Basin Power Ltd
• Power Trans Company Private Ltd
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• SECL has two subsidiaries
• M/s Chhattisgarh East Railway Ltd (CERL)
• M/s Chhattisgarh East- West Railway Ltd (CEWRL)
• CCL has one subsidiary
• Jharkhand Central Railway Ltd
UNMATCHED STRATEGIC RELEVANCE:
Produces around 83% of India’s overall coal production in India where approximately 57%
of primary commercial energy is coal dependent, CIL alone meets to the tune of 40% of
primary commercial energy requirement. The share of coal is expected to remain high at 48-
54% till 2040. Accounts for 76% of total thermal power generating capacity of the Utility
sector. Supplies coal at prices discounted to international prices. Insulates Indian coal
consumers against price volatility. Makes the end user industry globally competitive. Plays a
key role in “Make in India” and making India incorporate globally competitive.
PRODUCTION AND GROWTH:
During 2018-19, CIL produced 606.89 Million (MTs) of coal – an increase of 39.52 MTs
over last year. CIL for the first time has breached the 600 Million (MT) mark in coal
production registering a growth of 6.97% over the previous year. There has been around 7%
growth in coal production during the year, nearly a threefold increase compared to the last
fiscal’s output growth of 2.4 %. It is pertinent to mention that CIL leaped from 500 MT to
600 MTs in merely three years whereas it took the company seven years to migrate from 400
MTs to that of 500. Raw coal off-take Financial Year ending 31st March 2019 was 608.14
MT, an increase of 27.85 MTs over the previous year. Coal & coal products to power utilities
(including special forward e-Auction) was 491.54. CIL is committed to play major role in
achieving the Nation energy security. ‘Vision 2030’ for the coal sector in the country
envisages a growth of about 7.6 percent till FY 24-25 to meet coal demand of the country. To
achieve the projected growth in production CIL has identified major projects and assessed
their related issues.
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MISSION:
To produce and market the planned quantity of coal and coal products efficiently and
economically in an eco-friendly manner with due regard to safety, conservation and quality.
VISION:
To emerge as a global player in the primary energy sector committed to provide energy
security to the country by attaining environmentally & socially sustainable growth through
best practices from mine to market.
PROJECTS:
There are 122 ongoing Mining projects having an annual capacity of 890.41 MT which have
contributed 417.07MT in the year 2020-21. As per 1 BT Plan, forty-nine (49) future projects
have been identified for approval with incremental capacity of 289.4 MTY to augment coal
production of CIL to 1 billion tonnes by FY 2023-24.
 Clean Coal Technology:

In pursuance of initiatives towards the development of Clean Coal Technology and alternate
use of coal, CIL is exploring the possibilities to venture into the Coal-to-Chemicals sector on
a stand-alone basis by setting up a Coal-to-Methanol plant at Dankuni Coal Complex (DCC).
Coal sourced from Raniganj coalfields shall be gasified to produce syngas which shall be
subsequently converted into methanol.
 Consumer Satisfaction:
Consumer satisfaction is a priority area for CIL and for enhanced consumer satisfaction,
special emphasis has been given to Quality Management of Coal from mine to dispatch point.
All consumers of CIL have the option for quality assessment through independent third-party
sampling agencies. A portal ‘UTTAM’ has been launched by CIL so that information on coal
quality will be accessible to both coal companies and consumers.
 Touching Peoples’ lives at the grass root level:

Unlike other parts of the world, coal reserves in India mostly under the forest land or in tribal
inhabited areas. Inevitably coal mining displaces people. But, CIL has a well-structured
Rehabilitation and Resettlement Policy for Project Affected People. The company Pursues
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‘Mining with a human face’ through a socially sustainable inclusive model of growth by
making Project Affected People stakeholders in the decision making process for their
livelihood.
CARE FOR ENVIRONMENT/ ENVIRONMENTAL MANAGEMENT:
One of the inherent tendencies of coal mining is degradation of the land and environment.
CIL constantly addresses the impact of mining activities across environmental and social
issues. Eco-friendly mining systems have been put in place in all of its mining areas. To make
environmental mitigation measures more transparent, CIL introduced state-of-the-art Satellite
Surveillance to monitor land reclamation and restoration for all opencast projects. Plantation
and Green belt are developed through extensive tree plantation program every year by the
subsidiaries of Coal India. The subsidiaries of CIL have planted around 97.65 million of trees
covering an area over 39029 Ha. till March’2019. During 2018-19, 1.81 million trees have
been planted covering an area of 733 Ha in leasehold area and 0.36 million trees covering an
area of 225 Ha. outside leasehold area were planted. Committed to minimize the adverse
impact of coal mining on environment through well structured Environment Management
Plans and sustainable development activities. CIL HQ has obtained certification against ISO
9001, 14001 and 50001 (Quality Management, Environment Management and Energy
Management System) from Bureau of India Standards (BIS). As on 31st March 2019, four of
our Subsidiaries, ECL, CCL, NCL and MCL are certified for Integrated Management System
(ISO 9001, 14001 and OHSAS 18001). CMPDI HQ and its seven RIs are certified for ISO
9001:2015.
CONSERVATION OF ENERGY:
Conservation of Energy is priority area CIL/ subsidiaries and various measures are taken
towards reduction in specific energy consumption. CIL is also pursuing use of alternative
energy sources. Various steps have been taken for utilizing solar power has alternative source
of energy such as in kilo-watt scale roof top solar plants are in successful operation. at
Corporate Office of CIL, Newtown, Kolkata (160kWp), CMPDI HQ and regional institute
(351 kW), different areas of ECL (159 kW), different areas of WCL (1097 kw), HQ office
building, CCL (477.5 kW) and NEC (12 kW)
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ENTERPRISE RESOURCE PLANNING (ERP):
CIL is on the path of design and implementation of a robust state of the art Enterprise
Resource Planning and Hospital Management system in CIL and its subsidiaries. The effort is
aimed to integrate all aspects of business operations into a single easy to use system and
effectively plan, manage and optimize all the organizational resources through
standardization of business processes and best practices.
ACQUISITION OF COAL ASSETS ABROAD:
CIL is in the process of acquiring stakes in Coking Coal Assets in Australia, Canada and
USA. Few potential coking / semi coking coal assets have been identified in Australia and
Canada.
CRITICISM:
Operating 239 mines without environment clearance: In September 2011, CAG CIL for
operating 239 mines in seven coal producing subsidiaries, which existed prior to 1994,
without environmental clearance These mines included 48 open-cast, 170 underground and
21 combined mines. In its report, the CAG also pointed out that of the 18 sample open-cast
and eight underground mines, ten mines had undertaken capacity expansion without
environmental clearances. The company, in its reply, said that applications for clearances to
the projects have already been submitted to the Ministry of Environment and Forests.
Coal mines near Tiger Preserves: In India, some coal mines are located near/below the tiger
preserves. Mining or construction of administrative offices in/near these preserves disturbs
the wildlife. Hence environmental organizations like Greenpeace have been opposing mining
in these areas. Around 50% of the energy requirements of India are met by coal. Hence the
protection of wildlife is sometimes overlooked due to this fact. In its argument the CIL said
that in many cases it only does underground mining which does not hurts the forests above.
Accidents during mining: The company is its Annual Report for FY 2012-13 reported lowest
ever figures of average 66 deaths and 251 serious accidents per year for the period 2010-2012
indicating that safety at workplace is improving over the years. Critics claim that the safety
practices in most mines are inadequate, which is causing so many casualties.It is also claimed
that many accidents and deaths are not recorded and hence are not part of 'official figures'.
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EMPLOYEES:
Coal India had 333,097 employees as on 31 March 2015, out of which 314,259 were Non-
Executives and 18,838 were Executives. It spent Rs. 298.74 billion on Employee benefits
which accounted for 50.54% of the total expenditure incurred during the FY 2014–15.
Coal India is planning to hire 1326 more employees in year 2021.
TYPES OF COAL
COKING COAL:
These coals, when heated in the absence of air, form coherent beads, free from volatiles, with
strong and porous mass, called coke.
• These have coking properties

• Mainly used in steel making and metallurgical industries
• Also used for hard coke manufacturing.
SEMI COKING COAL:
These coals, when heated in the absence of air, form coherent beads not strong enough to be
directly fed into the blast furnace. Such coals are blended with coking coal in adequate
proportion to make coke.
• These have comparatively less coking properties than coking coal

• Mainly used as blend-able coal in steel making, merchant coke manufacturing and
other metallurgical industries
NON-COKING COAL:
These are coals without coking properties.
• Mainly used as thermal grade coal for power generation

• Also used for cement, fertilizer, glass, ceramic, paper, chemical and brick
manufacturing, and for other heating purposes
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WASHED AND BENEFICIATED COAL:
These coals have undergone the process of coal washing or coal beneficiation, resulting in
value addition of coal due to reduction in ash percentage.
• Used in manufacturing of hard coke for steel making

• Beneficiated and washed non-coking coal is used mainly for power generation
• Beneficiated non-coking coal is used by cement, sponge iron and other industrial
plants.
MIDDLINGS:
Middling are by-products of the three stage coal washing / beneficiation process, as a fraction
of feed raw coal.
• Used for power generation

• Also used by domestic fuel plants, brick manufacturing units, cement plants,
industrial plants, etc.
REJECTS:
Rejects are the products of coal beneficiation process after separation of cleans and / or
middling, as a fraction of feed raw coal.
• Used for Fluidized Bed Combustion (FBC) Boilers for power generation, road
repairs, briquette (domestic fuel) making, land filling, etc
CIL COKE / LTC COKE :
CIL Coke / LTC Coke is a smokeless, environment friendly product of the Dank Coal
Complex, obtained through low temperature carbonization.
• Used in furnaces and kilns of industrial units

• Also used as domestic fuel by , hotels, etc.
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COAL FINES / COKE FINES:
These are the screened fractions of feed raw coal and LTC coke / CIL Coke respectively,
obtained from the Dan Coal Complex and other coke oven plants.
• Used in industrial furnaces as well as for domestic purposes
TAR / HEAVY OIL / LIGHT OIL / SOFT PITCH :
These are products from Dan Coal Complex using low temperature carbonization of non-
coking coal in vertical retorts.
• Used in furnaces and boilers of industrial plants as well as power houses, oil, dye,
pharmaceutical industries, etc.
SUBSIDIARIES:
Year Wise Trends in the Coal Production of CILs Subsidiaries in MTs During FY2012-2018
Coal India Limited (CIL) produces coal through seven of its wholly owned subsidiaries.
These are Eastern Coalfields Limited (ECL), Bharat Coking Coal Limited (BCCL), Central
Coalfields Limited (CCL), Western Coalfields Limited (WCL), South Eastern Coalfields
Limited (SECL), sowed subsidiary Central Mine Planning & Design Institute Limited
(CMPDIL) provides exploration, planning and technical support to all the 7 production
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subsidiaries. CMPDIL also provides consulting services to third-party market clients in the
field of exploration, mining, allied engineering & testing, management-systems, training, etc.
CIL also has a wholly owned subsidiary in Mozambique, Coal India Africana Limited
(CIAL) for pursuing coal mining opportunities in that country.
The details of number of employees, revenue for FY2012-13 and production of coal is given
in the table below:
BOARD EXECUTIVE DIRECTORS:
 Shri Pramod Agrawal - Chairman-cum-Managing-Director
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 Shri BinayDayal – Director(Technical)
 Shri S N Tiwary - Director (Marketing)
 Shri Vinay Ranjan - Director(P&IR)
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 Shri P S Mishra -CMD, ECL
ACHIVEMENTS
 Cil bags the dalal street investment journal award for the year 2019-20 as the fastest-
growing maharatna of the year in the non manufacturing category.
 CIL was felicitated by the Ministry for Health & Family Welfare, Science & Tech,
Earth Sciences, Govt. of India CIL for being the first PSU to utilize its CSR funds to
help underprivileged children to access Bone Marrow Transplant (BMT) under
‘Thalassemia Bal Seva Yojana’. Dr Harsh Vardhan, Hon’ble Union Minister for
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Health & Family Welfare, Science & Tech, Earth Sciences, Govt. of India did the
honours on 14TH October,2020.
 Coal India Ltd. has bagged the award for best ’Strategic Performance’ in the
‘Maharatna Category’ at the Governance Now 7th PSU Awards held in Delhi on 19th
February,2020. Shri. Arjun Ram Meghwal, Hon’ble Minister of State for
Parliamentary Affairs, Govt. of India gave the award to Shri. G.S.Bhati, GM, CIL
Delhi who received the award on behalf of CIL .
 Coal India Limited bagged the “Public Sector of India” award at the Energy Meet
2019 & Excellence Awards of ASSOCHAM (The Associated Chambers of
Commerce & Industry). The award was conferred on CIL for its contribution and
commitment to providing energy security to India and towards the environment.
 CIL has been awarded the ‘CSR Winner Award for Rural Development and
Infrastructure’ at the 6th CSR Impact Awards 2018-19. CIL was recognised for the
Integrated Rural Development done in Purulia.
 CIL was conferred with an award for automated e-tendering system for excellence in
‘Innovation in Procurement Process’ by Indian Institute of Materials management at
their annual seminar ‘NATCOM 2019.
 Coal India Ltd. has won the 'Best Enterprise Award' in the Maharatna category at the
29th Annual Day Celebration of Forum of Women in Public Sector (WIPS) in Delhi.
 “BEST team” award was bagged by PMD executives in EDPM (Executive Diploma
in Project Management) in Sep’2018 organized by International Institute of Project &
Program Management while working on International Software “PRENDO”. The
team stood First out of all 63 teams from different PSUs and Private Organization.
CORPORATE SOCIAL RESPONSIBILITY
Your Company is fully conscious and sensitive of its corporate citizenry role and reaches out
to the marginalized sections of the society through a well-structured Corporate Social
Responsibility policy. CIL is one of the largest CSR spending entities in the country. In its
battle to contain the spread of Covid-19 in its mining areas and to step up medical facilities,
CIL has created a massive health care infrastructure.
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(a) CIL and its subsidiaries have spent ` 553.85 Crores on CSR activities exceeding the
statutory requirement of ` 434.51 Crores by ` 119.34 Crores.
(b) Of the total CSR spent of the year, 48.57% that is ` 269 Crores, was exclusively spent on
Covid relief measures to the benefit of the community within the proximity of mining areas.
(c) Among the major activities undertaken during the year, your company has set up more
around 1,500 beds making it one of the largest mobilizers among Indian corporates.
(d) CSR efforts continued unceasingly during the second wave of the pandemic as well with
total number of beds more than doubling to 3,900. Your company has also taken a decision to
set up 29 Oxygen generating plants across 27 hospitals including its own and government
hospitals.
(e) MCL has set up 525 bedded hospital at Bhubaneswar and 150 bedded hospital at
Lakhanpur.
(f) CIL has converted government hospitals in Ambikapur, Bilaspur, Chattisgarh under SECL
and another hospital in Dharwad, Karnataka into 100 bedded Covid treatment centers.
(g) NCL has provided 50 Ambulances to Government of Uttar Pradesh.
(h) Distributed more than 3 lakhs free food packets, more than 17.56 lakh masks and over
80,800 liters of hand sanitizer to the needy community.
(i) The health care efforts initiated during the first wave of Covid are being actively pursued
further expanding the medical facilities and infrastructure.
(j) Commenced the second phase of Thalassemia 'Bal Sewa Yojana' for treatment of
Thalassemia and Aplastic anemia Children. The step is expected to benefit more than 200
underprivileged patients at a grant of ` 20 Crores.
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CHAPTER 2
FINANCIAL ANALYSIS
17
FINANCIAL ANALYSIS
Financial analysis is the process of evaluating businesses, projects, budgets and other finance-
related entities to determine their performance and suitability. Financial analysis also referred
to as financial statement analysis or accounting analysis .Typically, financial analysis is used
to analyze whether an entity is stable, solvent, liquid or profitable enough to warrant a
monetary investment. When looking at a specific company, a financial analyst conducts
analysis by focusing on the income statement, balance sheet, and cash flow statement.
It is performed by professionals who prepare reports using ratios that make use of
information taken from financial statements and other reports. These reports are usually
presented to top Management as one of their bases in making business decisions.
GOALS
Financial analysts often assess the following elements of a firm:
 Profitability:its ability to earn income and sustain growth in both the short – and long
term. A company’s degree of profitability is usually based on the income statement,
which reports on the company’s results of operations.
 Solvency:its ability to pay its obligation to creditors and other third parties in the long
term.
 Liquidity: the firm’s ability to maintain positive cash flow, while satisfying
immediate obligations.
 Stability:the firm’s ability to remain business in the long run, without having to
sustain significant losses in the conduct of its business. Assessing a company’s
stability requires the use of both the income statement and the balance sheet, as well
as other financial and non-financial indicators. Etc.
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Financial analysts can also use percentage analysis which involves reducing a series of
figures as a percentage of some base amount. For example, a group of items can be expressed
as a percentage of net income. When proportionate changes in the same figure over a given
time period expressed as a percentage is known as horizontal analysis. Vertical or common -
size analysis, reduces all items on a statement to a “common size” as a percentage of some
base value which assists in comparability with other companies of different sizes. As a result,
all income statement items are divided by sales, all balance sheet items are divided by total
assets.
Another method is comparative analysis. This provides a better way to determine trends.
Comparative analysis presents the same information for two or more time periods and is
presented side-by-side to allow for easy analysis.
TYPES OF FINANCIAL ANALYSIS

There are two types of financial analysis
 Fundamental analysis
 Technical analysis
Fundamental Analysis
Fundamental analysis uses ratios gathered from data within the financial statements, such as
a company's earnings per share (EPS), in order to determine the business's value. Using ratio
analysis in addition to a thorough review of economic and financial situations surrounding
the company, the analyst is able to arrive at an intrinsic value for the security. The end goal
is to arrive at a number that an investor can compare with a security's current price in order
to see whether the security is undervalued or overvalued.
Technical Analysis
Technical analysis uses statistical trends gathered from trading activity, such as moving
averages (MA). Essentially, technical analysis assumes that a security’s price already
reflects all publicly available information and instead focuses on the statistical analysis of
price movements. Technical analysis attempts to understand the market sentiment behind
price trends by looking for patterns and trends rather than analysing a security’s fundamental
attributes.
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COMPARATIVE BALANCE SHEET
A balance sheet with at least two columns of amounts. The column of amounts that is closest
to the words will be the most recent amounts. The column furthest from the words will
contain the oldest amounts. The older amounts provide a reference point from which to make
comparisons.
A comparative balance sheet presents side-by-side information about an entity's assets,

liabilities, and shareholders' equity as of multiple points in time. For example, a comparative
balance sheet could present the balance sheet as of the end of each year for the past three
years. Another variation is to present the balance sheet as of the end of each month for the
past 12 months on a rolling basis. In both cases, the intent is to provide the reader with a
series of snapshots of a company's financial condition over time, which is useful for
developing trend line analyses (though this works better when the reader has the entire set of
financial statements to work with and not just the balance sheet).
The comparative balance sheet is not required under GAAP for a privately-held company or a
nonprofit entity, but the SEC does require it in numerous circumstances for the reports issued
by publicly-held companies, particularly the annual Form 10-K and the quarterly Form 10-Q.
The usual SEC requirement is to report a comparative balance sheet for the past two years
(with additional requirements for quarterly reporting).There is no standard format for a
comparative balance sheet. It is somewhat more common to report the balance sheet as of the
least recent period furthest to the right, though the reverse is the case when you are reporting
balance sheets in a trailing twelve-months format.
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TABLE NO 2.1 - COMPARATIVE BALANCE SHEET FOR THE YEAR 2016 – 2017
PARTICULARS 2016 2017 INCREASE/DECREASE REMARKS

AMOUNT PERCENTAGE
EQUITIES AND
LIABILITIES
SHAREHOLDER'S
FUNDS
Equity Share Capital 6,316.36 6,207.41 -108.95 -1.72% Decreased
by 1.72%
Total Share Capital 6,316.36 6,207.41 -108.95 -1.72% Decreased
by -1.72%
Reserves and Surplus 9,729.45 7,710.03 -2,019.42 -20.76% Decreased
by -20.76%
Total Reserves and 9,729.45 7,710.03 -2,019.42 -20.76% Decreased
Surplus by -20.76%
Total Shareholders Funds 16,045.81 13,917.44 -2,128.37 -13.26% Decreased
by -13.26%
NON-CURRENT
LIABILITIES
Deferred Tax Liabilities 0 0 0.00
[Net]
Other Long Term 3,177.66 3,449.67 272.01 8.56% Increased by
Liabilities 8.56%
Long Term Provisions 172.72 212.82 40.10 23.22% Increased by
23.22%
Total Non-Current 3,350.38 3,662.49 312.11 9.32% Increased by
Liabilities 9.23%
CURRENT
LIABILITIES
Trade Payables 72.7 110 37.30 51.31% Increased by
51.31%
Other Current Liabilities 1,703.78 1,054.23 -649.55 -38.12% Decreased
by -38.12%
Short Term Provisions 206.09 141.24 -64.85 -31.47% Decreased
by -31.47%
Total Current Liabilities 1,982.57 1,305.47 -677.10 -34.15% Decreased
by -34.15%
Total Capital And 21,378.76 18,885.40 -2,493.36 -11.66% Decreased
Liabilities by -11.66%
ASSETS
NON-CURRENT
ASSETS
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Tangible Assets 317.35 306.13 -11.22 -3.54% Decreased
by -3.45%
Intangible Assets 0.47 0.31 -0.16 -34.04% Decreased
by -34.04%
Capital Work-In-Progress 13.13 13.52 0.39 2.97% Increased by
2.97
Intangible Assets Under 0 0 0.00
Development
Other Assets 14.89 14.89 0.00 0.00% Increased by
Fixed Assets 345.84 334.85 -10.99 -3.18% Decreased
by -3.18%
Non-Current Investments 11,416.51 11,529.07 112.56 0.99% Increased by
0.99%
Long Term Loans And 51.51 0.43 -51.08 -99.17% Decreased
Advances by -99.17%
Other Non-Current Assets 3,169.74 3,400.06 230.32 7.27% Increased by
7.27%
Total Non-Current Assets 14,983.60 15,264.41 280.81 1.87% Increased by
1.87%
CURRENT ASSETS
Current Investments 312.98 60.19 -252.79 -80.77% Decreased
by -80.77%
Inventories 152.41 68.44 -83.97 -55.09% Decreased
by -55.09%
Trade Receivables 0.38 12.74 12.36 3252.63% Increased by
3252.63%
Cash And Cash 4,464.57 922.09 -3,542.48 -79.35% Decreased
Equivalents by -79.35%
Short Term Loans And 17.45 1,209.00 1,191.55 6828.37% Increased by
Advances 6828.37%
OtherCurrentAssets 1,447.37 1,348.53 -98.84 -6.83% Decreased
by -6.83%
Total Current Assets 6,395.16 3,620.99 -2,774.17 -43.38% Decreased
by -43.38%
Total Assets 21,378.76 18,885.40 -2,493.36 -11.66% Decreased
by -11.66%
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INCREASE/DECREASE
2017 2018 REMARKS
PARTICULARS AMOUNT PERCENTAGE
EQUITIES AND
LIABILITIES
SHAREHOLDER'S
FUNDS
Equity Share Capital 6,207.41 6,207.41 0.00 0.00% Stable
Total Share Capital 6,207.41 6,207.41 0.00 0.00% Stable
Decreased by
Reserves and Surplus 7,710.03 6,487.30 -1,222.73 -15.86%
-15.86%
Total Reserves and Decreased
7,710.03 6,487.30 -1,222.73 -15.86%
Surplus by -15.86%
Decreased
Total Shareholders Funds 13,917.44 12,694.71 -1,222.73 -8.79%
by -8.79%
NON-CURRENT
LIABILITIES
Deferred Tax Liabilities
0 0 0.00
[Net]
Other Long Term Increased by
3,449.67 3,700.98 251.31 7.29%
Liabilities 7.29
Increased by
Long Term Provisions 212.82 236.65 23.83 11.20%
11.20%
Total Non-Current Increased by
3,662.49 3,937.63 275.14 7.51%
Liabilities 7.51%
CURRENT
LIABILITIES
Increased by
Trade Payables 110 111.16 1.16 1.05%
1.05%
Increased by
Other Current Liabilities 1,054.23 1,497.39 443.16 42.04%
42.04%
Increased by
Short Term Provisions 141.24 224.03 82.79 58.62%
58.62%
Increased by
Total Current Liabilities 1,305.47 1,832.58 527.11 40.38%
40.38%
Total Capital And Decreased
18,885.40 18,464.92 -420.48 -2.23%
Liabilities by -2.23%
ASSETS
NON-CURRENT
ASSETS
Decreased
Tangible Assets 306.13 300.75 -5.38 -1.76%
by -1.76%
23
Increased by
Intangible Assets 0.31 0.44 0.13 41.94%
41.94%
Increased by
Capital Work-In-Progress 13.52 119 105.48 780.18%
780.18%
Intangible Assets Under
0 0 0.00
Development
Increased
Other Assets 14.89 15.69 0.80 5.37%
by5.37%
Increased
Fixed Assets 334.85 435.88 101.03 30.17%
by 30.17%
Increased by
Non-Current Investments 11,529.07 12,137.39 608.32 5.28%
5.28%
Long Term Loans And Decreased
0.43 0.4 -0.03 -6.98%
Advances by -6.98%
Increased by
Other Non-Current Assets 3,400.06 3,738.67 338.61 9.96%
9.96%
Increased by
Total Non-Current Assets 15,264.41 16,312.34 1,047.93 6.87%
6.87%
CURRENT ASSETS
Decreased
Current Investments 60.19 26.06 -34.13 -56.70%
by -56.70%
Decreased
Inventories 68.44 21.39 -47.05 -68.75%
by -68.74%
Decreased
Trade Receivables 12.74 0.27 -12.47 -97.88%
by -97.88%
Cash And Cash Decreased
922.09 488.08 -434.01 -47.07%
Short Term Loans And Decreased
1,209.00 1.88 -1,207.12 -99.84%
Advances by -99.84%
Increased by
OtherCurrentAssets 1,348.53 1,614.90 266.37 19.75%
19.75%
Decreased
Total Current Assets 3,620.99 2,152.58 -1,468.41 -40.55%
by -40.55%
Decreased
Total Assets 18,885.40 18,464.92 -420.48 -2.23%
by 2.23%
24
INCREASE/DECREASE
2018 2019 REMARKS
PARTICULARS Amount Percentage
EQUITIES AND
LIABILITIES
SHAREHOLDER'S
FUNDS
Decreased
Equity Share Capital 6,207.41 6,162.73 -44.68 -0.72%
by -0.72%
Decreased
Total Share Capital 6,207.41 6,162.73 -44.68 -0.72%
by -0.72%
Increased
Reserves and Surplus 6,487.30 7,834.66 1,347.36 20.77%
by 20.77%
Total Reserves and Increased
6,487.30 7,834.66 1,347.36 20.77%
Surplus by 20.77%
Total Shareholders Increased
12,694.71 13,997.39 1,302.68 10.26%
Funds by 10.26%
NON-CURRENT
LIABILITIES
Deferred Tax Liabilities 0 0 0.00
Other Long Term Increased

3,700.98 4,099.36 398.38 10.76%
Liabilities by 10.76%
Decreased
Long Term Provisions 236.65 211.93 -24.72 -10.45%
by -10.45%
Total Non-Current Increased
3,937.63 4,311.29 373.66 9.49%
CURRENT
LIABILITIES
Increased
Trade Payables 111.16 122.97 11.81 10.62%
by 10.62%
Decreased
Other Current Liabilities 1,497.39 518.62 -978.77 -65.37%
by -63.37%
Decreased
Short Term Provisions 224.03 90.3 -133.73 -59.69%
by -59.69%
Decreased
Total Current Liabilities 1,832.58 731.89 1,100.69 -60.06% by
-60.06%
Total Capital And Increased
18,464.92 19,040.57 575.65 3.12%
25
ASSETS
NON-CURRENT
ASSETS
Decreased
Tangible Assets 300.75 291.97 -8.78 -2.92%
by -2.92%
Increased
by 4.55
Increased
Capital Work-In-Progress 119 142.63 23.63 19.86%
by 19.86%
Intangible Assets Under
0 38.7 38.70 Stable
Development
Decreased
Other Assets 15.69 8.32 -7.37 -46.97%
by -46.97%
Increased
Fixed Assets 435.88 482.08 46.20 10.60%
by10.60%
Increased
by 3.11%
0.4 0.22 -0.18 -45.00%
Advances by -45.00%
Increased
by 9.15%
Increased
Total Non-Current Assets 16,312.34 17,078.18 765.84 4.69%
by 4.69%
CURRENT ASSETS
Decreased
by -12.74%
Increased
Inventories 21.39 30.67 9.28 43.38%
by 43.38%
Decreased
Trade Receivables 0.27 0.25 -0.02 -7.41%
by -7.41%
488.08 253.51 -234.57 -48.06%
Short Term Loans And Decreased
1.88 0 -1.88 -100.00%
Advances by -100%
Increased
OtherCurrentAssets 1,614.90 1,655.22 40.32 2.50%
by 2.50%
Decreased
Total Current Assets 2,152.58 1,962.39 -190.19 -8.84%
by -88.4%
Increased
Total Assets 18,464.92 19,040.57 575.65 3.12%
By 3.12%
26
INCREASE/DECREASE
PARTICULARS 2019 2020 REMARKS
Amount Percentage
EQUITIES AND
LIABILITIES
SHAREHOLDER'S
FUNDS
Increased
Reserves and Surplus 7,834.66 10,650.57 2,815.91 35.94%
by 35.94%
Total Reserves and Increased
7,834.66 10,650.57 2,815.91 35.94%
Surplus by 35.94%
Increased
Total Shareholders Funds 13,997.39 16,813.30 2,815.91 20.12%
by 20.12%
NON-CURRENT
LIABILITIES
Deferred Tax Liabilities
0 0 0.00
[Net]
4,099.36 4,617.66 518.30 12.64%
Increased
Long Term Provisions 211.93 297.66 85.73 40.45%
by 40.45%
4,311.29 4,915.32 604.03 14.01%
CURRENT
LIABILITIES
Trade Payables 122.97 132.94 9.97 8.11% Increased
by 8.11%
Other Current Liabilities 518.62 399.82 -118.80 -22.91% Decreased
by -22.91%
Short Term Provisions 90.3 137.1 46.80 51.83% Increased
by 51.83%
Total Current Liabilities 731.89 669.86 -62.03 -8.48% Decreased
by -8.48%
Total Capital And 19,040.57 22,398.48 3,357.91 17.64% Increased
ASSETS
NON-CURRENT
ASSETS
27
Tangible Assets 291.97 302.39 10.42 3.57% Increased
by 3.57%
Intangible Assets 0.46 0.2 -0.26 -56.52% Decreased
by -56.52%
Capital Work-In-Progress 142.63 128.33 -14.30 -10.03% Decreased
by -10.03%
Intangible Assets Under 38.7 57.16 18.46 47.70% Increased
Development by 47.70%
Other Assets 8.32 8.32 0.00 0.00% Stable
Fixed Assets 482.08 496.4 14.32 2.97% Increased
by 2.97%
Non-Current Investments 12,515.16 12,232.59 -282.57 -2.26% Decreased
by -2.26%
Long Term Loans And 0.22 0.16 -0.06 -27.27% Decreased
Advances by -27.27%
Other Non-Current Assets 4,080.72 4,391.95 311.23 7.63% Increased
by 7.63%
Total Non-Current Assets 17,078.18 17,121.10 42.92 0.25% Increased

by 0.25%
CURRENT ASSETS
Current Investments 22.74 93.97 71.23 313.24% Increased
by
313.24%
Inventories 30.67 14.98 -15.69 -51.16% Decreased
by -51.16%
Trade Receivables 0.25 7.97 7.72 3088.00% Increased
by 3088%
Cash And Cash 253.51 1,071.48 817.97 322.66% Increased
Equivalents by 322.6%
Short Term Loans And 0 0 0.00
Nil
Advances
OtherCurrentAssets 1,655.22 4,088.98 2,433.76 147.04% Increased
by147.04%
Total Current Assets 1,962.39 5,277.38 3,314.99 168.93% Increased
by 168.9%
Total Assets 19,040.57 22,398.48 3,357.91 17.64% Increased
by 17.64%
28
INCREASE/DECREASE
2020 2021 REMARKS
EQUITIES AND
LIABILITIES
SHAREHOLDER'S
FUNDS
Decreased
Reserves and Surplus 10,650.57 10,588.98 -61.59 -0.58%
by -0.58%
Total Reserves and Decreased
10,650.57 10,588.98 -61.59 -0.58%
Surplus by -0.58%
Decreased
Total Shareholders Funds 16,813.30 16,751.71 -61.59 -0.37%
by -0.37%
NON-CURRENT
LIABILITIES
Deferred Tax Liabilities Increased
0 27.56 27.56
[Net] by 27.56%
4,617.66 4,937.78 320.12 6.93%
Decreased
Long Term Provisions 297.66 269.36 -28.30 -9.51%
by -9.51%
4,915.32 5,234.70 319.38 6.50%
CURRENT
LIABILITIES
Decreased
Trade Payables 132.94 101.59 -31.35 -23.58%
by -23.58%
Decreased
Other Current Liabilities 399.82 302.02 -97.80 -24.46%
by -24.46%
Short Term Provisions Decreased
137.1 108.52 -28.58 -20.85%
by -20.85%
Total Current Liabilities
Decrease
669.86 512.13 -157.73 -23.5%
by -23.5%
Total Capital And
Increased
Liabilities 22,398.48 22,498.54 100.06 0.45%
by 0.45%
ASSETS
29
NON-CURRENT
ASSETS
Increased
Tangible Assets 302.39 348.87 46.48 15.37%
by 15.37%
Increased
by 575.0%
Decreased
Capital Work-In-Progress 128.33 85.24 -43.09 -33.58%
by -33.58%
Intangible Assets Under Increased
57.16 86.17 29.01 50.75%
Development by 50.75%
Decreased
Other Assets 8.32 2.56 -5.76 -69.23%
by -69.23%
Increased
Fixed Assets 496.4 524.19 27.79 5.60%
by 5.60%
Increased
by 7.36%
0.16 0.07 -0.09 -56.25%
Advances by -56.25%
Increased
by 5.59%
Increased
Total Non-Current Assets 17,121.10 18,294.72 1,173.62 6.85%
by 6.85%
CURRENT ASSETS
Decreased
by -2.09%
Decreased
Inventories 14.98 1 -13.98 -93.32%
by -93.32%
Increased
Trade Receivables 7.97 11.99 4.02 50.44%
by 50.44%
1,071.48 230.27 -841.21 -78.51%
Short Term Loans And
0 0 0.00 Nil
Advances
Decreased
OtherCurrentAssets 4,088.98 3,868.55 -220.43 -5.39%
by -5.39%
Decreased
Total Current Assets 5,277.38 4,203.82 -1,073.56 -20.34%
by-20.34%
Increased
Total Assets 22,398.48 22,498.54 100.06 0.45%
by 0.45%
30
COMPARATIVE PROFIT AND LOSS ACCOUNT
The profit and loss account present the financial results of a business for a stated period of
time. The profit and loss account are an essential part of the financial statements that an
organization release. The other parts of the financial statements are the balance sheet and
statement of cash flows. The profit and loss account may be presented by itself on a single
page, or it may be combined with other comprehensive income information. In the latter case,
the report format is called a statement of comprehensive income.
There is no required template in the accounting standards for how the income statement is to
be presented. Instead, common usage dictates several possible formats, which typically
include some or all of the following line items:
 Revenue
 Tax expense
 Post-tax profit or loss for discontinued operations and for the disposal of these
operations
 Profit or loss
 Other comprehensive income, subdivided into each component thereof
 Total comprehensive income
When presenting information in the profit and loss account, the focus should be providing
information in a manner that maximizes information relevance to the reader. This may mean
that the best presentation is one in which the format reveals expenses by their nature, as
shown in the following example. This format typically works best for a smaller budget.
31
TABLE 2.6: COMPARITIVE PROFIT AND LOSS FOR THE YEAR 2016 AND 2017
INCREASE/DECREASE REMARKS
PARTICULAR 2016 2017
Amount Percentage
INCOME
Revenue From Increase
212.74 415.24 202.5 95.19%
Operations [Gross] by 95.19%
Less: Excise/Sevice Increase
49.71 130.14 80.43 161.80%
Tax/Other Levies by 161.8%
163.03 285.1 122.07 74.88%
Operations [Net] by 74.88%
Increase
Other Operating Revenues 2.5 4.78 2.28 91.20%
by 91.20%
Total Operating Increase
165.53 289.88 124.35 75.12%
Revenues by 75.12%
Decrease
Other Income 17,129.39 15,004.75 -2124.64 -12.40%
by -12.40%
Decrease
Total Revenue 17,294.92 15,294.63 -2000.29 -11.57%
by -11.57%
EXPENSES
Cost Of Materials Decrease
21.21 19.72 -1.49 -7.02%
Consumed by -7.02%
Operating And Direct Decrease
101.1 83.39 -17.71 -17.52%
Expenses by -17.52%
Changes In Inventories Of
Decrease
FG,WIP And Stock-In -94.55 83.49 178.04 -188.30%
by-188.30%
Trade
Employee Benefit Increase
360.72 415.63 54.91 15.22%
Expenses by 15.22%
Increase
Finance Costs -123.8 -136.23 -12.43 10.04%
by 10.04%
Provsions and Decrease
52.54 0.23 -52.31 -99.56%
Contingencies by-99.56%
32
Depreciation And Increase
16.41 17.52 1.11 6.76%
Amortisation Expenses by 6.76%
Miscellaneous Expenses
0 0.13 0.13 Nil
Written Off
Increase
Other Expenses 193.09 300.52 107.43 55.64%
by 55.64%
Increase
Total Expenses 526.72 784.4 257.68 48.92%
by 48.92%
Profit/Loss Before
Exceptional, Decrease
16,768.20 14,510.23 -2257.97 -13.47%
ExtraOrdinary Items by -13.47%
And Tax
Decrease
Profit/Loss Before Tax 16,768.20 14,510.23 -2257.97 -13.47%
by -13.47%
Tax Expenses-Continued
Operations
Decrease
Current Tax 175.2 11.14 -164.06 -93.64%
by -93.64%
Decrease
Tax For Earlier Years 175.2 0 -175.2 -100.00%
by -100.0%
Decrease
Total Tax Expenses 16,593.00 11.14 -16581.86 -99.93%
by -99.93%
Profit/Loss After Tax
And Before 0 14,499.09 14499.09 Nil
ExtraOrdinary Items
Profit/Loss From Decrease
16,593.00 14,499.09 -2093.91 -12.62%
Continuing Operations by -12.62%
Profit/Loss For The Decrease
16,593.00 14,499.09 -2093.91 -12.62%
Period by -12.62
33
INCREASE/DECREASE
PARTICULAR 2017 2018 REMARKS
Amount Percentage
INCOME
415.24 477 61.76 14.87%
Operations [Gross] by 14.87%
Less: Excise/Sevice Decrease

130.14 119.94 -10.2 -7.84%
Tax/Other Levies by -784%

285.1 357.06 71.96 25.24%
Operations [Net] by 25.24%
Increase
Other Operating Revenues 4.78 7.44 2.66 55.65%
by 55.65%
Increase
Total Operating Revenues 289.88 364.5 74.62 25.74%
by 25.74%
Decrease
Other Income 15,004.75 9,571.03 -5433.72 -36.21%
by -36.21%
Decrease
Total Revenue 15,294.63 9,935.53 -5359.1 -35.04%
by -35.04%
EXPENSES
19.72 19.04 -0.68 -3.45%
Consumed by -3.45%
Operating And Direct Increase

83.39 118.01 34.62 41.52%
Expenses by 41.52%
Changes In Inventories Of
Decrease
FG,WIP And Stock-In 83.49 42.09 -41.4 -49.59%
by -49.59%
Trade
Employee Benefit Increase
415.63 525.04 109.41 26.32%
Expenses by 26.32%
Increase
Finance Costs -136.23 -257.86 -121.63 89.28%
by 89.28%
Provsions and Decrease
0.23 -10.35 -10.58 -4600.0%
Contingencies by -4600.0%
Depreciation And 17.52 18.14 0.62 3.54% Increase
34
Amortisation Expenses by 3.54%
Miscellaneous Expenses Decrease
0.13 0 -0.13 -100.00%
Written Off by -100.0%
Decrease
Other Expenses 300.52 166.59 -133.93 -44.57%
by -44.57%
Decrease
Total Expenses 784.4 620.7 -163.7 -20.87%
by -20.87%
Profit/Loss Before
Exceptional, Decrease
14,510.23 9,314.83 -5195.4 -35.81%
ExtraOrdinary Items And by -35.81%
Tax
Decrease
by-35.81%
Operations
Increase
Current Tax 11.14 118.63 107.49 964.90%
by 964.90%
Less: MAT Credit
0 101.39 101.39 Nil
Entitlement
Deferred Tax 0 0 0 Nil
Tax For Earlier Years 0 4.17 4.17 Nil
Increase
Total Tax Expenses 11.14 21.41 10.27 92.19%
by 92.19%
Decrease
And Before 14,499.09 9,293.42 -5205.67 -35.90%
by -35.90%
ExtraOrdinary Items
Profit/Loss From Decrease
14,499.09 9,293.42 -5205.67 -35.90%
Continuing Operations by -35.90%
Profit/Loss For The Decrease

14,499.09 9,293.42 -5205.67 -35.90%
Period by -35.90%
35
INCREASE/DECREASE REMARKS
PARTICULAR 2018 2019
Amount Percentage
INCOME
Revenue From Operations Decrease
477 430.92 -46.08 -9.66%
[Gross] by -9.66%
Less: Excise/Sevice Decrease

119.94 115.53 -4.41 -3.68%
Tax/Other Levies by -3.68%
Revenue From Operations Decrease

357.06 315.39 -41.67 -11.67%
[Net] by -11.67%
Increase
Other Operating Revenues 7.44 618.91 611.47 8218.68% by
8218.68%
Increase
Total Operating Revenues 364.5 934.3 569.8 156.32%
by 156.32%
Increase
Other Income 9,571.03 10,548.66 977.63 10.21%
by 10.21%
Increase
Total Revenue 9,935.53 11,482.96 1547.43 15.57%
by 15.57%
EXPENSES

19.04 18.39 -0.65 -3.41%
Consumed by -3.41%
Operating And Direct Increase

118.01 151.62 33.61 28.48%
Expenses by 28.48%
Changes In Inventories Of Decrease by

42.09 -9.41 -51.5 -122.36%
FG,WIP And Stock-In Trade -122.36%
Decrease
Employee Benefit Expenses 525.04 474.66 -50.38 -9.60%
by -9.60%
Decrease
Finance Costs -257.86 18.04 275.9 -107.00% by -
107.00%
Decrease
Provsions and Contingencies -10.35 0.85 11.2 -108.21% by -
108.21%
Increase
Depreciation And 18.14 26.25 8.11 44.71%
by 44.71%
36
Amortisation Expenses
0 0 0 Nil
Written Off
Increase
Other Expenses 166.59 240.14 73.55 44.15%
By 44.15%
Increase
Total Expenses 620.7 920.54 299.84 48.31%
by 48.31%
Profit/Loss Before
Exceptional, Increase
9,314.83 10,562.42 1247.59 13.39%
ExtraOrdinary Items And by 13.39%
Tax
Increase
Profit/Loss Before Tax 9,314.83 10,562.42 1247.59 13.39%
by 13.39%
Operations
Increase
Current Tax 118.63 157.25 38.62 32.56%
by 32.56%
Less: MAT Credit Decrease
101.39 37.88 -63.51 -62.64%
Entitlement by -62.64%

Decrease
Tax For Earlier Years 4.17 -26.62 -30.79 -738.37% by -
738.37%
Increase
by 333.21%
Profit/Loss After Tax And
Increase
Before ExtraOrdinary 9,293.42 10,469.67 1176.25 12.66%
by 12.66%
Items
Profit/Loss From Increase
9,293.42 10,469.67 1176.25 12.66%
Continuing Operations by 12.66%
Increase
Profit/Loss For The Period 9,293.42 10,469.67 1176.25 12.66%
by 12.66%
37
INCREASE/DECREASE
Amount Percentage
INCOME
Revenue From Decrease by-
430.92 313.05 -117.87 -27.35%
Operations [Gross] 27.35%
Less: Excise/Sevice Decrease by-

115.53 81.47 -34.06 -29.48%
Tax/Other Levies 29.48%

315.39 231.58 -83.81 -26.57%
Operations [Net] 26.57%
Other Operating Decrease by-

618.91 613.58 -5.33 -0.86%
Revenues 0.86%
Total Operating Decrease by-

934.3 845.16 -89.14 -9.54%
Revenues 9.54%
Increase by
Other Income 10,548.66 11,566.33 1017.67 9.65%
9.65%
Increase by
Total Revenue 11,482.96 12,411.49 928.53 8.09%
8.09%
EXPENSES
Cost Of Materials Decrease by -
18.39 15.17 -3.22 -17.51%
Consumed 17.51%
Operating And Direct Decrease by -

151.62 73.07 -78.55 -51.81%
Expenses 51.81%
Changes In Inventories
Decrease by-
Of FG,WIP And Stock- -9.41 15.68 25.09 -266.6%
266.6%
In Trade
Employee Benefit Increase by
474.66 545.25 70.59 14.87%
Expenses 14.87%
Decrease by -
Finance Costs 18.04 5.26 -12.78 -70.84%
70.84%
Provsions and Increase
0.85 2.27 1.42 167.06%
Contingencies by167.06%
Depreciation And 26.25 54.39 28.14 107.20% Increase by
38
Amortisation Expenses 107.2%
0 0 0 Nil
Written Off
Increase by
Other Expenses 240.14 401.14 161 67.04%
67.04%
Increase by
Total Expenses 920.54 1,112.23 191.69 20.82%
20.82%
Profit/Loss Before
Exceptional, Increase by
10,562.42 11,299.26 736.84 6.98%
ExtraOrdinary Items 6.98%
And Tax
Increase by
Profit/Loss Before Tax 10,562.42 11,299.26 736.84 6.98%
6.98%
Tax Expenses-
Continued Operations
Decrease by-
Current Tax 157.25 0 -157.25 -100.00%
100.0%
Less: MAT Credit Decrease by-
37.88 -138.28 -176.16 -465.1%
Entitlement 465.1%

Increase by
Tax For Earlier Years -26.62 -119.9 -93.28 350.4%
350.4%
Decrease by-
Total Tax Expenses 92.75 18.38 -74.37 -80.18%
80.18%

Increase by
And Before 10,469.67 11,280.88 811.21 7.75%
7.75%
ExtraOrdinary Items
Profit/Loss From Increase by
10,469.67 11,280.88 811.21 7.75%
Continuing Operations 7.75%
Profit/Loss For The Increase by

10,469.67 11,280.88 811.21 7.75%
Period 7.75%
39
INCREASE/DECREASE
Amount Percentage
INCOME
313.05 49.56 -263.49 -84.17%
Operations [Gross] 84.17%
Less: Excise/Sevice Decrease by -

81.47 13.42 -68.05 -83.53%
Tax/Other Levies 83.53%

231.58 36.14 -195.44 -84.39%
Operations [Net] 84.39%
Other Operating Decrease by -

613.58 604.11 -9.47 -1.54%
Revenues 1.54%
Total Operating Decrease by-

845.16 640.25 -204.91 -24.25%
Revenues 24.25%
Decrease by-
Other Income 11,566.33 7,679.18 -3887.15 -33.61%
33.61%
Decrease by-
Total Revenue 12,411.49 8,319.43 -4092.06 -32.97%
32.97%
EXPENSES
Cost Of Materials Decrease by-
15.17 10.71 -4.46 -29.40%
Consumed 29.40%
Operating And Direct Decrease by-

73.07 12.75 -60.32 -82.55%
Expenses 82.55%
Changes In Inventories
Decrease by-
Of FG,WIP And Stock- 15.68 14.21 -1.47 -9.37%
9.37%
In Trade
Employee Benefit Decrease by-
545.25 443.9 -101.35 -18.59%
Expenses 18.59%
Decrease by-
Finance Costs 5.26 1.59 -3.67 -69.77%
69.77%
Provsions and Decrease by-
2.27 0.12 -2.15 -94.71%
Contingencies 94.71%
Depreciation And 54.39 19.67 -34.72 -63.84% Decrease by-
40
Amortisation Expenses 63.84%
0 5.76 5.76 Nil
Written Off
Decrease by-
Other Expenses 401.14 136.74 -264.4 -65.91%
65.91%
Decrease by-
Total Expenses 1,112.23 645.45 -466.78 -41.97%
41.97%
Profit/Loss Before
Exceptional, Decrease by-
11,299.26 7,673.98 -3625.28 -32.08%
ExtraOrdinary Items 32.08%
And Tax
Decrease by-
32.08%
Tax Expenses-
Continued Operations
Current Tax 0 6.32 6.32 Nil
Less: MAT Credit Decrease by-
-138.28 0 138.28 -100.0%
Entitlement 100.0%
Deferred Tax 0 27.56 27.56 Nil

Decrease by-
Tax For Earlier Years -119.9 0 119.9 -100.0%
100.0%
Increase by
84.33%
Decrease by-
And Before 11,280.88 7,640.10 -3640.78 -32.27%
32.27%
ExtraOrdinary Items
Profit/Loss From Decrease by-
11,280.88 7,640.10 -3640.78 -32.27%
Continuing Operations 32.27%
Profit/Loss For The Decrease by-

11,280.88 7,640.10 -3640.78 -32.27%
Period 32.27%
COMPARATIVE CASHFLOW STATEMENT
41
A cash flow statement is financial statement that provides aggregate data regarding all cash
inflows a company receives from its ongoing operations and external investment sources. It
also includes all cash outflows that pay for business activities and investments during a given
period.
A company's financial statements offer investors and analysts a portrait of all the transactions
that go through the business, where every transaction contributes to its success. The cash flow
statement is believed to be the most intuitive of all the financial statements because it follows
the cash made by the business in three main ways - through operations, investment, and
financing. The sum of these three segments is called net cash flow.
CASHFLOW FROM OPERATION ACTIVITY

This is the first section of the cash flow statement and includes transactions from all
operational business activities. The cash flows from operations section begins with net
income, then reconciles all noncash items to cash items involving operational activities. So,
in other words, it is the company's net income, but in a cash version.
This section reports cash flows and outflows that stem directly from a company's main
business activities. These activities may include buying and selling inventory and supplies,
along with paying its employees their salaries. Any other forms of in and outflows such as
investments, debts, and dividends are not included.
Companies are able to generate sufficient positive cash flow for operational growth. If there
is not enough generated, they may need to secure financing for external growth in order to
expand.
For example, accounts receivable is a noncash account. If accounts receivable goes up during
a period, it means sales are up, but no cash was received at the time of sale. The cash flow
statement deducts receivables from net income because it is not cash. The cash flows from
the operations section can also include accounts payable, depreciation, amortization, and
numerous prepaid items booked as revenue or expenses, but with no associated cash flow.
42
CASHFLOW FROM INVESTING ACTIVITY
This is the second section of the cash flow statement, and is the result of investment gains and
losses. This section also includes cash spent on property, plant, and equipment. This section
is where analysts look to find changes in capital expenditure(capex).
When capex increases, it generally means there is a reduction in cash flow. But that's not
always a bad thing, as it may indicate that a company is making investment into its future
operations. Companies with high capex tend to be those that are growing.
While positive cash flows within this section can be considered good, investors would prefer
companies that generate cash flow from business operations—not through investing and
financing activities. Companies can generate cash flow within this section by selling
equipment or property.
CASHFLOW FROM FINANCING ACTIVITY
Cash flows from financing is the last section of the cash flow statement. The section provides
an overview of cash used in business financing. It measures cash flow between a company
and its owners and its creditors, and its source is normally from debt or equity. These figures
are generally reported annually on a company's 10-K report to shareholders.
Analysts use the cash flows from financing section to determine how much money the
company has paid out via dividends or share buybacks. It is also useful to help determine
how a company raises cash for operational growth.
Cash obtained or paid back from capital fundraising efforts, such as equity or debt, is listed
here, as are loans taken out or paid back.
43
When the cash flow from financing is a positive number, it means there is more money
coming into the company than flowing out. When the number is negative, it may mean the
company is paying off debt, or is making dividend payments and/or stock buybacks.
TABLE 2.11: COMPARITIVE CASH FLOW STATEMENT FOR THE

YEAR 2016 AND 2017
INCREASE/DECREASE
2016 2017 REMARKS

Amount Percentage
PARTICULARS
Net Profit/Loss Before Decrease

16,768.20 14,510.23 -2,257.97 -13.47%
Extraordinary by-13.47%
Items And Tax
Net CashFlow From Decrease
-782.52 -744.09 38.43 -4.91%
Operating Activities by -4.91%
Net Cash Used In Investing Increase
18,340.45 18,867.30 526.85 2.87%
Activities by 2.87%
Net Cash Used From Increase
-17,381.26 -17,674.32 -293.06 1.69%
Financing Activities by 1.69%
Net Inc/Dec In Cash And Increase
176.67 448.89 272.22 154.08%
Cash Equivalents by154.08%
Cash And Cash Equivalents Increase
99.61 276.28 176.67 177.36%
Begin of Year by 177.36%
Cash And Cash Equivalents
Increase
End Of Year 276.28 725.17 448.89 162.48%
by 162.48%
44
YEAR 2017 AND 2018
INCREASE/DECREASE
2017 2018 REMARKS
Amount Percentage
PARTICULARS

14,510.23 9,314.83 -5,195.40 -35.81%
Extraordinary Items by -35.81%
And Tax
Net CashFlow From Decrease
-744.09 491.26 1,235.35 -166.02%
Operating Activities by -166.02%
Net Cash Used In Investing Decrease
18,867.30 8,207.44 -10,659.86 -56.50%
Activities by -56.50%
Net Cash Used From Decrease
-17,674.32 -9,078.62 8,595.70 -48.63%
Financing Activities by -48.63%
Net Inc/Dec In Cash And Decrease
448.89 -379.92 -828.81 -184.64%
Cash Equivalents by -184.64%
Cash And Cash Equivalents Increase
276.28 725.17 448.89 162.48%
Begin of Year by 162.48%
Cash And Cash Equivalents Decrease
725.17 345.25 -379.92 -52.39%
End Of Year by -52.39%
45
YEAR 2018 AND 2019
INCREASE/DECREASE
2018 2019 REMARKS
Net Profit/Loss Before
Extraordinary Items Increase
9,314.83 10,562.42 1,247.59 13.39%
And Tax by 13.39%
Net Cash Flow From Decrease

Operating Activities 491.26 -933.23 -1,424.49 -289.97% by
-289.97%
Net Cash Used In
Increase
Investing Activities 8,207.44 9,623.22 1,415.78 17.25%
by 17.25%
Net Cash Used From

Decrease
Financing Activities -9,078.62 -7,731.27 1,347.35 -14.84%
by -14.84%
Net Inc/Dec In Cash Decrease

And Cash Equivalents -379.92 958.72 1,338.64 -352.35% by
-352.35%
Cash And Cash
Equivalents Begin of Decrease
725.17 150.25 -574.92 -79.28%
Year by -79.28%
Cash And Cash

Increase
Equivalents End Of Year 345.25 1,108.97 763.72 221.21%
by 221.21%
46
YEAR 2019 AND 2020
INCREASE/DECREASE
PARTICULARS 2019 2020 Amount Percentage REMARKS
Net Profit/Loss Before

Increase by
Extraordinary Items 10,562.42 11,299.26 736.84 6.98%
6.98%
And Tax
Net CashFlow From Increase by
-933.23 -2,050.65 -1,117.42 119.74%
Operating Activities 119.74%
Net Cash Used In Increase by
9,623.22 10,439.20 815.98 8.48%
Investing Activities 8.48%
Net Cash Used From Decrease by
-7,731.27 -7,396.48 334.79 -4.33%
Financing Activities -4.33%
Net Inc/Dec In Cash And Increase by
958.72 992.07 33.35 3.48%
Cash Equivalents 3.48%
Cash And Cash Decrease by
150.25 58.98 -91.27 -60.75%
Equivalents Begin of Year -60.75%
Cash And Cash Decrease by
1,108.97 1,051.05 -57.92 -5.22%
Equivalents End Of Year -5.22%
47
YEAR 2020 AND 2021
INCREASE/DECREASE
PARTICULARS 2021 2021 REMARKS
Amount Percentage

Extraordinary Items 11,299.26 7,673.98 -3,625.28 -32.08% by
And Tax -32.08%
Decrease
Net CashFlow From Operating
-2,050.65 414.62 2,465.27 -120.22% by
Activities
-120.22%
Net Cash Used In Investing Decrease
10,439.20 6,453.54 -3,985.66 -38.18%
Activities by -38.18%
Net Cash Used From Financing Increase
-7,396.48 -7,706.55 -310.07 4.19%
Activities by 4.19%
Decrease
Net Inc/Dec In Cash And
992.07 -838.39 -1,830.46 -184.51% by
Cash Equivalents
-184.51%
Increase
Cash And Cash Equivalents
58.98 1,051.05 992.07 1682.04% by
Begin of Year
1682.04%
Cash And Cash Equivalents Decrease
1,051.05 212.66 -838.39 -79.77%
End Of Year by-79.77%
48
RATIO ANALYSIS
An analysis of financial statement with the help of accounting ratio is termed as ‘Ratio
analysis’.
Ratio analysis is a process of determining and interpreting relationship between the items of
financial statement to provide a meaningful understanding of performance and financial
position of an enterprises. Thus, it is a technique of analyzing the financial statement by
computing ratios.
OBJECTIVES OF RATIO ANALYSIS
Ratio analysis serves the purpose of various users who are interested in the financial
statements. It simplifies, summarize an systemize the figures in the financial statement. The
objectives of ratio analysis are
 To simplify the accounting information.

 To determine liquidity (short-term solvency,i.e., ability of enterprise to meet its short
term financial obligations) and long-term solvency (i.e., ability of enterprises to pay
its long term liabilities) of the business.
 To assess the operating efficiency of the business.
 To analyze the profitability of business.
 To help in comparative analysis, i.e., inter-form and intra-firm comparisons.
ADVANTAGES OF RATIO ANALYSIS
The advantages of ratio analysis are as follows:
 Useful tool for analysis of financial statements: Accounting ratios are useful for
understanding the financial position of an enterprise. Bankers, investors, creditors,
etc., all analyze balance sheet and statement of profit and loss using ratios.
 Simplifies accounting data: Accounting ratio simplifies, summarizes and
systematizes accounting data to make it understandable. Its main contribution lies in
communicating precisely the inter relationship which exists between various elements
of financial statements.
 Useful in assessing the operating efficiency of businesses: Accounting ratios are
useful for assessing the financial health and performance of an enterprises. It is
assessed by equality evaluating liquidity,solvency,profitability etc.
49
 Useful for forecasting : Ratios are helpful in business planning and forecasting. The
trend of ratios is analyzed and used as a guide for future planning. What should be the
course of action in the immediate future is decided, many at times, on the basis of
trend of ratios, i.e., ratios are calculated for number of years.
 Useful in locating the weak areas : Accounting ratio assist in locating the weak
areas of the business even though the overall performance may be good. The
management can then pay attention to the weakness and take remedial action.
LIMITATIONS OF RATIO ANALYSIS

 Ratio analysis is powerful tool in assessing the strengths and weaknesses of an
enterprise is. It also has certain limitations which are discussed below
 False result:Ratios are calculated from the financial statement, so the reliability of
ratio and its analysis is dependent upon the correctness of financial statement. If the
financial statements are not true unfair, the analysis will give a false picture of affairs.
 Qualitative factors are ignored: Ratio analysis is a technique of quantitative
analysis and thus, ignores qualitative factors, which may be important in decision
making.
 Price level changes are not considered : Change in price level affectsthe
comparability of the ratios. But the price level changes are not considered in
accounting variables from which ratios are computed. This handicaps the utility of
accounting ratios.
 May not be comparable: Ratios may not be compatible if different firms are low.
Different accounting policies and procedures. For example, one firm may follow
straight line method of depreciation while another might follow diminishing balance
method
 Lack of standard ratios: There are no single standard ratio against which the ratio
can be compared.
50
TYPES OF RATIOS
Ratios as tool of analysis, may be classified into five categories:
1. Liquidity ratio : These ratios show the ability of enterprises to meet its short term
financial obligation. Important liquidity ratios are current ratio and quick ratio
2. Solvency ratio : These ratios are calculated to assess the long term financial position
of enterprises. Solvency means ability of enterprises to meet its long term financial
obligation, i.e., liabilities. Important solvency ratios aredebt to equity ratio, total asset
to debt toratio, proprietary ratio and interest coverage ratio
3. Activity ratio or turnover ratio: These ratios show how efficiently a company is
using its resources. Important activity ratios are inventory turnover ratio, trade
receivable turnover, ratio trade payable turnover ratio, working capital turnover ratio.
4. Profitability ratio: Profitability of a firm can be measured by its profitability ratios.
Important profitability ratios are gross profit ratio, operating ratio, operating profit
ratio, net profit ratio, return on investment (ROI).
5. Market Prospect ratios: These are the most commonly used ratios in fundamental
analysis. Investors use these ratios to determine what they may receive in earnings
from their investments and to predict what the trend of a stock will be in the future.
E.g., dividend yield, P/E ratio, earnings per share, and dividend payout ratio.
What Does Ratio Analysis Tell You?
Investors and analysts employ ratio analysis to evaluate the financial health of companies by
scrutinizing past and current financial statements. Comparative data can demonstrate how a
company is performing over time and can be used to estimate likely future performance.
This data can also compare a company's financial standing with industry averages while
measuring how a company stacks up against others within the same sector.
51
1. LIQUIDITY RATIOS
 CURRENT RATIO
Current ratio is a liquidity ratio that measures the ability of the enterprise to pay is short term
financial obligation, i.e., current liabilities. It is a relationship of current assets and current
liabilities. Current ratio indicates whether the enterprise will be able to meet its short term
financial obligation when they become due for payment. Thus, current ratio is the
measurement of financial health of the enterprises in the short term.
Current Ratio = Current Assets / Current liabilities
TABLE 2.16: SHOWING THE CURRENT RATIO
CURRENT RATIO
YEAR 2017 2018 2019 2020 2021
CURRENT ASSET 3,620.99 2,152.58 1,962.39 5,277.38 4,203.82
CURRENT LIABILITY 1,305.47 1,832.58 731.89 669.86 512.13
CURRENT RATIO 2.77 1.17 2.68 7.88 8.21
CHART 2.1: SHOWING CURRENT RATIO
CURRENT RATIO
9
8
7
6
5
RATIO
4
3
2
1
0
2017 2018 2019 2020 2021
YEAR
INTERPERTATION :
It measures the short term financial obligations of the companyfrom the year 2017 to
2021.There was a increase balance in the current ratio. It as sudden increase in the year 2020
to 7.88 and from 2020 to 2021 it has been increasing in current ratio this shows the company
is maintaining their working capital in the stable way to meet their current obligations.
 LIQUID RATIO OR QUICK RATIO
52
Liquid ratio or Quick ratio is a liquidity ratio which measures the ability of the enterprises to
meet its short term financial obligations, i.e., current liabilities. It is a relationship of liquid
assets with current liabilities. Liquid ratio is an indicator of short term debt paying capacity of
an enterprise under it is a better indicator of liquidity. This ratio is very important for banks
and financial institutions.
Liquid ratio = Liquid Assets / current Liabilities
TABLE 2.17: SHOWING THE LIQUID/QUICK RATIO
LIQUIDITY RATIO/ QUICK RATIO

YEAR 2017 2018 2019 2020 2021
LIQUID ASSETS 3,552.55 2,131.19 1,931.72 5,262.40 4,202.82
CURRENT LIABILITIES 1,305.47 1,832.58 731.89 669.86 512.13
LIQUID RATIO 2.72 1.16 2.64 7.86 8.21
CHART 2.2: SHOWING LIQUIDITY/QUICK RATIO
LIQUID RATIO
9
8
7
6
5
RATIO
4
3
2
1
0
2017 2018 2019 2020 2021
YEAR
INTERPERTATION :
It measures the short term financial obligations of the companyfrom the year 2017 to
2021.There was a increase balance in the current ratio. It as sudden increase in the year 2020
to 7.88 and from 2020 to 2021 it has been increasing in current ratio this shows the company
is maintaining their working capital in the stable way to meet their current obligations.
53
2. SOLVENCY RATIOS
 DEBT TO EQUITY RATIO

Debt to equity ratio is computed to assess long term financial soundness of the
enterprise. The ratio express relationship between long term external equities, i.e.,
external debts and internal equities (i.e., shareholder funds) of the enterprises.
Debt Equity Ratio = Debt / Equity
TABLE 2.18: SHOWING THE DEBT EQUITY RATIO
DEBT EQUITY RATIO

YEAR 2017 2018 2019 2020 2021
DEBT 4,503.90 5,198.37 4,617.98 5,017.48 5,239.80
EQUITY 6,207.41 6,207.41 6,162.73 6,162.73 6,162.73
DEBT TO QUITY 0.726 0.837 0.749 0.814 0.850
RATIO
CHART 2.3: SHOWING DEBT EQUITY RATIO
DEBT EQUITY RATIO

0.86
0.84
0.82
0.8
0.78
RATIO
0.76
0.74
0.72
0.7
0.68
0.66
2017 2018 2019 2020 2021
YEAR
INTERPERTATION :
It measures the debt equity obligations of the company from the year 2017 to 2021.There was
a increase balance in the Debt Equity Ratio. It as sudden decrease in the year 2019 to 0.749
and from 2020 to 2021 it has been increasing in this Debt Equity Ratio shows the company is
maintaining their working capital in the stable way to meet their current obligations.
54
1. PROPRIETARY RATIO
Property ratio establishes relationship between the proprietors’ funds and total asset. This
ratio is important for credit as they can ascertain the portion of shareholders funds in the total
asset employed in the firm and the safety margin available to them. It is of particular interest
to creditors of a company as it helps them to ascertain the shareholders funds in the total
assets of the business.
Proprietary Ratio = Proprietary funds / Total Assets
TABLE 2.19: SHOWING THE PROPRIETARY RATIO
PROPRIETARY RATIO
YEAR 2017 2018 2019 2020 2021
PROPRIETARY'S 6,207.41 6,207.41 6,162.73 6,162.73 6,162.73
FUNDS
TOTAL ASSETS 18,885.4 18,464.9 19,040.5 22,398.4 22,498.5
0 2 7 8 4
PROPRIETART RATIO 0.33 0.34 0.32 0.28 0.27
CHART 2.4:
PROPRIETARY RATIO
SHOWING
0.4
0.35
0.3
0.25
RATIO
0.2
0.15
0.1
0.05
0
2017 2018 2019 2020 2021
YEAR
PROPRIETARY RATIO
55
INTERPERTATION :
It measures the debt equity obligations of the company from the year 2017 to 2021.There was
a increase balance in the Proprietary Ratio. It as sudden decrease in the year 2020 to 0.28 and
from 2020 to 2021 it has been decreasing in this Proprietary Ratio shows the company is
maintaining their working capital in the stable way to meet their current obligations.
2. OVERALL SOLVENCY RATIO

A solvency ratio is a key metric used to measure an enterprise's ability to meet its long-term
debt obligations and is used often by prospective business lenders. A solvency ratio indicates
whether a company's cash flow is sufficient to meet its long-term liabilities and thus is a
measure of its financial health.
Overall Solvency Ratio = Total Debt / Total Tangible Asset
TABLE 2.20: SHOWING THE OVERALL SOLVENCY RATIO
OVERALL SOLVENCY RATIO

YEAR 2017 2018 2019 2020 2021
TOTAL DEBT 4,503.9 5,198.37 4,617.9 5,017.48 5,239.80
0 8
TANGIBLE ASSETS 306.13 300.75 291.97 302.39 348.87
SOLVENCY RATIO 14.71 17.28 15.82 16.59 15.02
CHART 2.5: SHOWING OVERALL SOLVENCY TURNOVER RATIO
56
INTERPERTATION:
Overall solvency ratio is in fluctuating stage it differs from each year from 2017 – 2021.
There is a constant change in every year from 2017 to 2021. Highest stage of overall solvency
ratio is 2018. And the lowest stage is on 2021.
3. ACTIVITY RATIOS
OVERALLSOLVENCY RATIO 
17.5
17
16.5
16
15.5
RATIO
15
14.5
14
13.5
13
2017 2018 2019 2020 2021
YEAR
INVENTORY TURNOVER RATIO

Inventory turnover ratio established relationship between cost of revenue from operations and
average inventory carried during that. Inventory turnover ratio is an activity as well as
efficiency ratio and it measured the number of times and enterprises sells and replace it
inventory. i.e., the number of times inventory was converted into sales during the period.
Inventory Turnover ratio = Revenue From Operation / Average Inventories
57
TABLE 2.21: SHOWING THE INVENTORY TURNOVER RATIO
INVENTORY TURN OVER RATIO

YEAR 2017 2018 2019 2020 2021
COST REVENUE FROM OPERATION 784.4 620.7 920.54 1,112.23 645.45
AVERAGE INVENTORY 115.73 44.91 26.03 22.82 7.99
INVENTORY TURN OVER RATIO 6.78 13.82 35.36 48.74 80.78
CHART 2.6: SHOWING IVENTORY TURNOVER TURNOVER RATIO
INTERPERTATION:
It shows INVENTORY TURNOVER RATIO
90
Inventory 80
70
Turnover 60
Ratio
from 2017 50
-2021.
RATIO
40
There is a 30
20
Increasing 10 stage in
0
the ratio 2017 2018 2019 2020 2021
from
YEARS
2017 to 2021. In
2017 there is around 6.78% and its increasing till 2021 , a sudden increase in the year of 2021
around more than 15% from 2016 it has increased.
 WORKING CAPITAL TURNOVER RATIO
58
The Working capital Turnover is a ratio that measures how efficiently a company is using its
Working Capital to support sales and growth . Also known asset sales to working
capital,working capital turnover measures the relationship between the funds used to finance
company’s operations and the revenues a company generates to continue operation and turn a
profit.
Working Capital Turnover ratio = Revenue from Operation / Working Capital
TABLE 2.22: SHOWING THE WORKING CAPITAL TURNOVER RATIO
WORKING CAPITAL TURNOVER RATIO

YEAR 2017 2018 2019 2020 2021
REVENUE FROM OPERATION 285.1 357.06 315.39 231.58 36.14
WORKING CAPITAL 2,315.52 320 1,230.5 4,607.52 3,691.69
0
WORKING CAPITAL TURNOVER RATIO 0.12 1.12 0.26 0.05 0.01
CHART 2.7: SHOWING WORKING CAPITAL TURNOVER RATIO
WORKING CAPITAL TURNOVER RATIO

1.2
0.8
RATIO
0.6
0.4
0.2
0
2017 2018 2019 2020 2021
YEARS
INTERPERTATION:
It shows the working capital turnover ratio of the company from the year 2017 to 2021. In the
year 2017 the working capital turnover ratio of the company was 0.12. Then there was a
drastic increase in the year 2018 to 1.12 and in the year 2019 it was to 0.26. But there is a
decraese in working capital turnover of the company in the year 2020 to 0.05 indicates
lesstrading. In the year 2021 the working capital turnover ratio of the company decreases to
0.01. This shows that company has adequate for the scale of operations.
59
 FIXED ASSET TURNOVER RATIO
Fixed asset turnover ratio is an efficiency ratio that establishes the relationship between
revenue from operation and fixed assets (Net). This ratio is computed by dividing revenue
from operations by Net fixed assets.
Fixed Asset Turnover Ratio = Revenue From Operation / Net Fixed Assets
TABLE 2.23: SHOWING THE FIXED ASSET TURNOVER RATIO
FIXED ASSET TURNOVER RATIO

YEAR 2017 2018 2019 2020 2021
REVENUE FROM 357.0 315.3 231.5
285.1 36.14
OPERATION 6 9 8
334.8 435.8 482.0 524.1
FIXED ASSETS 496.4
5 8 8 9
FIXED ASSETS RATIO 0.85 0.82 0.65 0.47 0.07
CHART 2.8: SHOWING FIXED ASSET TURNOVER RATIO
FIXED ASSET TURNOVER RATIO

0.9
0.8
0.7
0.6
0.5
RATIO
0.4
0.3
0.2
0.1
0
2017 2018 2019 2020 2021
YEARS
INTERPERTATION:
It shows the fixed assets turnover ratio of the company from the year 2017 to 2021. In the
year 2017 the fixed assets turnover ratio of the company was 0.85. Then there was a decrease
in the year 2018 to 0.82. In the year 2019 it was decrease to 0.65 and there was decrease in
fixed assets turnover of the company in the year 2020 to 0.47. In the year 2021 the fixed
assets turnover ratio of the company decreases to 0.07.
60
 CREDITOR'S TURNOVER RATIO
Creditor’s Turnover ratio shows relationship between the net credit purchase and total trade
payables or average payables, whereas average payment or creditors velocity shows the credit
period enjoyed by the enterprises in paying creditors.
Creditor’s Turnover Ratio = Net credit Purchase / Average Trade Payables
TABLE 2.24: SHOWING THE CREDITOR’S TURNOVER RATIO
CREDITORS TURNOVER RATIO

YEAR 2017 2018 2019 2020 2021
NET CREDIT PURCHASE 784.4 620.7 920.54 1,112.23 645.45
AVERAGE TRADE PAYABLES 91.35 110.58 117.065 127.955 117.265
CREDITORS TURN OVER RATIO 8.59 5.61 7.86 8.69 5.50
CHART 2.9: SHOWING CREDITORS TURNOVER RATIO
CREDITORS TURNOVER RATIO

10
9
8
7
6
RATIO
5
4
3
2
1
0
2017 2018 2019 2020 2021
YEARS
INTERPERTATION:
It shows the creditor’s turnover ratio of the company from the year 2017 to 2021. In the year
2017 the creditor’s turnover ratio of the company was 8.59. Then there was decrease in the
year 2018 to 5.61 and in the year 2019 it was increase to 7.86. In the year 2020 it has
increased to 8.69. In the year 2021 the creditor’s turnover ratio of the company decreases to
5.50. This shows in the year 2021 that company is having a lesser creditor compare to other
year .
61
4. EXPENSES RATIOS
 MATERIAL’S CONSUMED RATIO

Material consumption it refers to the amount of materials (in terms of weight) used in
the economy, i.e. materials extracted or harvested in the country, plus materials and
products exported.
Material Consumed Ratio = Cost of Materials Consumed / Revenue From Operation
TABLE 2.25: SHOWING MATERIAL’S CONSUMED RATIO
MATERIAL CONSUMED RATIO

YEAR 2017 2018 2019 2020 2021
COST OF MATERIALS CONSUMED 19.72 19.04 18.39 15.17 10.71
MATERIAL CONSUMED RATIO 6.92% 5.33% 5.83% 6.55% 29.63%
CHART 2.10: SHOWING MATERIAL’S CONSUMED RATIO
MATERIALS CONSUMED RATIO

35
30
25
20
15
10
0
2017 2018 2019 2020 2021
INTERPERTATION :
Materials Ratio is in increased stage from 2017 -2021 . In the year of 2017 the
materials consumed ratio is 6.92%. In the year of 2018 the ratio is 5.33% and in 2019
is 5.83% and in 2020 is 6.55% .Atlast in the year of 2021 there is a sudden increase in
materials consumed ratio to 29.63%.
62
 FINANCE COST RATIO
This ratio informs about the share of financial costs expenses in the value of revenues
from sales, thus it indicates which part of revenues from sales is used for covering the
financial expenses mainly interest.
Finance Cost Ratio = Finance Cost / Revenue from Operation
TABLE 2.26: SHOWING FINANCE COST RATIO
FINANCE COST RATIO

YEAR 2017 2018 2019 2020 2021
FINANCE COST -136.23 -257.86 18.04 5.26 1.59
FINANCE COST RATIO -47.78% -72.22% 5.72% 2.27% 4.40%
CHART 2.11: SHOWING FINANCECOST RATIO
FINANCE COST
20
10
0
2017 2018 2019 2020 2021
-10
-20
RATIO
-30
-40
-50
-60
-70
-80
YEARS
INTERPERTATION:
The Finance Cost is in flutuaing stage to positive stage .In the year of 2017 the finance cost is
-47.78% and in the year 2018 sudden decrease in the cost to -72.22% . From the year in 2018
the cost is in positive stage till 2021 .
63
 EMPLOYEE BENEFIT EXPENSE RATIO
It is a financial metric that professionals use to assess the costs and benefits of a
project to determine its viability. This means that the cash flow from the project is
more than the cost of the project, so the project is a good financial consideration.
EMPLOYEE BENEFIT EXPENSE RATIO = EMPLYOEE BENEFIT EXPENSE
REVENUE FROM OPERATION
TABLE 2.27: SHOWING EMPLOYEE BENEFIT EXPENSE RATIO
EMPLOYEE BENEFIT EXPENSES RATIO

YEAR 2017 2018 2019 2020 2021
EMPLOYEE BENEFIT EXPENSES 415.63 525.04 474.66 545.25 443.9
RATIO % % % % %
CHART 2.12: SHOWING EMPLOYEE BENEFIT EXPENSE RATIO
EMPLOYEE BENEFIT EXPENSE

1400
1200
1000
800
RATIO
600
400
200
0
2017 2018 2019 2020 2021
YEARS
INTERPERTATION:
Normally there is a increasing manner in Employee benefit . In 2017 the expense is 145.78%
and from this expenses is increasing till 2021 and in 2021 is the highest expenses incurred in
the company to 1228.28%
64
 DEPRECIATION AND AMORTISATION EXPENSES RATIO
Amortization and depreciation are two methods of calculating the value for business
assets over time. Amortization is the practice of spreading an intangible asset's cost
over that asset's useful life. Depreciation is the expensing of a fixed asset over its
useful life.
Depreciation & Amortisation Expenses Ratio = Depreciation & Amortisation Expenses
Revenue From Operation
TABLE 2.28: SHOWING DEPRECIATION & AMORTISATION EXPENSE RATIO
DEPRECIATION AND AMORTISATION EXPENSES RATIO

YEAR 2017 2018 2019 2020 2021
DEPRECIATION & AMORTISATION 17.52 18.14 26.25 54.39 19.67
DEPRECTION & AMORTISATION RATIO 6.15% 5.08% 8.32% 23.49% 54.43%
CHART 2.13: SHOWING DEPRECIATION & AMORTISATION EXPENSE RATIO
DEPRECIATION & AMORTISATION

60
50
40
RATIO
30
20
10
0
2017 2018 2019 2020 2021
YEARS
INTERPERTATION :
The table is in increasing manner from 2017-2021.In 2016 it was around 6.15 and it has
decreased in 2018 to 5.08 and then there is a slight increase in 2017 to 8.32. And there is
drastic change in 2020 to 23.49. Sudden high in the year of 2021 to 54.43.
65
 RETURN ON ASSETS
This ratio shows the relationship between the net profit and total assets. The ratio is computed
by dividing net profit after tax by total assets. The ratio is computed to ascertain whether the
investment in assets have generated adequate net profit.
RETURN ON ASSETS = PROFIT AFTER TAX / TOTAL ASSETS *100
TABLE 2.29: SHOWING THE RETURN ON ASSETS

RETURN ON ASSETS
YEAR 2017 2018 2019 2020 2021
PROFIT AFTER TAX 14,499.09 9,293.42 10,469.67 11,280.88 7,640.10
TOTAL ASSETS 18,885.40 18,464.92 19,040.57 22,398.48 22,498.54
RETURN ON ASSETS 76.77% 50.33% 54.99% 50.36% 33.96%
CHART 2.14: SHOWING RETURN ON ASSETS RATIO
RETURN ON ASSETS
90
80
70
60
50
RATIO
40
30
20
10
0
2017 2018 2019 2020 2021
YEARS
INTERPERTATION :
It shows the return on assets of the company from the year 2017 to 2021. In the year 2017 the
return on assets of the company was 76.77. Then there was sudden decrease in the year 2018
to 50.33 and in the year 2019 it was increased to 54.99. But there was a decrease in the year
2020 to 50.36. In the year 2021 thereturn on shareholder’s fund of the company decreases to
33.96. This shows that company isn’t stable and indicates the inefficient utilization of assets
and also reflects on efficiency of management.
 EARNINGS PER SHARE
66
It is the earnings of a company attributed to equity shareholders divided by number of equity
shares. In other words, this ratio measures the earnings available to equity shareholders on.
Per share basis. This ratio helps in evaluating the prevailing market price of share in light of
profit earning capacity.
EARNINGS PER SHARE = PROFIT AFTER TAX / NO.OF EQUITY
TABLE 2.30: SHOWING THE EARNINGS PER SHARE

EARINGS PER SHARE
YEAR 2017 2018 2019 2020 2021
PROFIT AFTER TAX 14,499.09 9,293.42 10,469.67 11,280.88 7,640.10
NO.OF.EQUITY SHARES 620.63 620.63 620.63 616.27 616.27
EARINGS PER SHARE RATIO 23.36 14.97 16.87 18.31 12.40
CHART 2.15: SHOWING EARINGS PER SHARE RATIO
EARINGS PER SHARE

25
20
15
RATIO
10
0
2017 2018 2019 2020 2021
YEARS
INTERPERTATION :
It shows the earnings per share of the company from the year 2017 to 2021. In the year 2017
the earnings per share of the company was 23.36. Then there was sudden decrease in the year
2018 to 14.97 and in the year 2019 it was increased to 16.87. But there was a increase in the
year 2020 to 18.31. In the year 2021 thereturn on shareholder’s fund of the company
decreases to 12.40. This shows that company is maintaining better in the performance and
prospects of the company.
67
CHAPTER 3
STATISTICAL ANALYSIS
68
STATISTICAL ANALYSIS
Statistical analysis is the collection and interpretation of data in order to uncover patterns and
trends. It is a component of data analytics. Statistical analysis can be used in situations like
gathering research interpretations, statistical modelling or designing surveys and studies. It
can also be useful for business intelligence organizations that have to work with large data
volumes.
In the context of business intelligence (BI), statistical analysis involves collecting and
scrutinizing every data sample in a set of items from which samples can be drawn. A sample,
in statistics, is a representative selection drawn from a total population.
STEPS OF STATISTICAL ANALYSIS
Statistical analysis can be broken down into five discrete steps, as follows:
 Describe the nature of the data to be analyzed.
 Explore the relation of the data to the underlying population.
 Create a model to summarize an understanding of how the data relates to the
underlying population.
 Prove (or disprove) the validity of the model.
 Employ predictive analytics to run scenarios that will help guide future actions.
The goal of statistical analysis is to identify trends. A retail business, for example, might use
statistical analysis to find patterns in unstructured and semi-structured customer data that can
be used to create a more positive customer experience and increase sales.
Business analytics software and services provider SAS defines statistical analysis as the

science of collecting, exploring and presenting large amounts of data to discover underlying
patterns and trends.
69
TREND ANALYSIS
Trend analysis is a technique used in technical analysis that attempts to predict future stock
price movements based on recently observed trend data. Trend analysis is based on the idea
that what has happened in the past gives traders an idea of what will happen in the future.
Trend is the direction that prices are moving in, based on where they have been in the past.
Trends are made up of peaks and troughs. It is the direction of those peaks and troughs that
constitute a market’s trend.
TYPES OF TRENDS
 UPTREND:
An uptrend or bull market is when financial markets and assets – as with the broader
economy level – move in the upward directions and keep increasing prices of the stock or the
assets or even the size of the economy over the period.
 DOWNTREND:
A downtrend or bear market is when financial markets and asset prices – as with the broader
economy level – move in the downward direction and prices of the stock or the assets or even
the size of the economy keep on decreasing over time.
 SIDEWAYS/HORIZONTAL TREND:
A sideways/horizontal trend means assets prices or share prices – as with the broader
economy level – are not moving in any direction; they are moving sideways, up for some
time, then down for some time.
70
1. SALES TREND
Sales trend analysis is the review of historical revenue results to detect patterns. It is a
useful budgeting and financial analysis method that can indicate the onset of changes in
the near-term revenue growth rates of a business. It is rarely adequate to simply plot the
total sales of a business on a trend line and expect to obtain any significant information
from it. Most organizations sell many products to a variety of customers, and in many
regions, which means that sales can be broken down into a number of sub-groups and
then reviewed on a trend line.
TABLE 3.1: SHOWING THE SALES TREND
SALES TREND
YEARS SALES PERCENTAGE
2017 285.1 100%
2018 357.06 125%
2019 315.39 111%
2020 231.58 81%
2021 36.14 13%
71
CHART3.1: SHOWING SALES TREND
INTERPERTATION:
From the above data shows the sales trend analysis from the year 2017 to 2021 ,in the year
2017 the balance as increased 124.33 and in upcoming years the sales decrease gradually till
2021,in the year 2020 it decreases to 81% and in the year 2021 it decrease to 13%. Sales
trend shows the negative relationship.
2. NET PROFIT TREND

The net profit
SALES TREND
margin, or 140% simply
net 120% 125%
100% 111%
PERCENTAGE
100%
margin, is 80% equal
81%
to how 60%
much
40%
net 20%
13%
income or 0%
2017 2018 2019 2020 2021 profit
YEARS
is
generated as a percentage of revenue. Net profit margin is the ratio of net profits
to revenues for a company or business segment. Net profit margin measures how much net
income is generated as a percentage of revenues received.Net profit margin helps investors
assess if a company's management is generating enough profit from its sales and whether
operating costs and overhead costs are being contained.Net profit margin is one of the most
important indicators of a company's overall financial health.
72
TABLE 3.2: SHOWING THE NET PROFIT TREND
NET PROFIT TREND

YEARS NET PROFIT PERCENTAGE
2017 14,499.09 100%
2018 9,293.42 64%
2019 10,469.67 72%
2020 11,280.88 78%
2021 7,640.10 53%
CHART3.2: SHOWING NET PROFIT TREND
INTERPERTATION:
From the above data shows the net profit trend analysis from the year 2017 to 2021 ,in the
year 2017 the balance as 100% and in upcoming years the sales floating gradually till 2021,in
the year 2020 it decreases to 78% and in the year 2021 it decrease to 53%. Sales trend shows
the negative relationship.
3. DIVIDEND TREND ANALYSIS

Dividend NET PROFIT TREND displays
the 120 annual
dividend 100
100 payment
80
history 78 of the
72
60
company 64
53
along
40
with the calendar
20
period for
0
which 2017 2018 2019 2020 2021
the
dividend is proposed. Stable or increasing dividend payments over time demonstrate
management's confidence in the company's future prospects and are hence preferred while a
history of dividend cuts is a drawback.
TABLE 3.3: SHOWING THE DIVIDEND TREND ANALYSIS
DIVIDEND TREND ANALYSIS

YEAR DIVIDENDS PERCENTAGE
73
2017 12352.76 100%
2018 10242.23 83%
2019 8105.58 66%
2020 7395.27 60%
2021 7703.41 62%
CHART3.3: SHOWING DIVIDEND TREND ANALYSIS
DIVIDEND TREND
120
100
100
PERCENTAGE
80
83
60 66
60 62
40
20
0
2017 2018 2019 2020 2021
YEARS
INTERPERTATION:
From the above data shows the dividend trend analysis from the year 2017 to 2021 ,in the
year 2017 the balance as 100% and in upcoming years the sales decrease gradually till
2021,in the year 2020 it decreases to 60% and in the year 2021 it decrease to 62%. Dividend
trend shows the negative relationship.
4. WORKING CAPITAL TREND
74
Working capital provides very important information about the financial condition of
a company for both investors and managements. For investors, it helps them gauge the ability
for a company to get through difficult financial periods. Whereas, for management members,
it helps them better foresee any financial difficulties that may arise. In conclusion, it is very
important for company keep enough working capital to handle any unpredictable difficulties.
TABLE 3.4: SHOWING THE WORKING CAPITAL TREND
WORKING CAPITAL TREND

YEARS WORKING CAPITAL PERCENTAGE
2017 2,315.52 100%
2018 320 14%
2019 1,230.50 53%
2020 4,607.52 199%
2021 3,691.69 159%
CHART3.4: SHOWING WORKING CAPITAL TREND
WORKING CAPITAL TREND

250
199
200
159
PERCENTAGE
150
100
100
53
50
14
0
2017 2018 2019 2020 2021
YEARS
INTERPERTATION:
From the above data shows the Working capital trend from the year 2017 to 2021 ,in the year
2017 the balance as 100% and in upcoming years the sales floating gradually till 2021,in the
year 2020 it decreases to 199% and in the year 2021 it decrease to 159%. Working capital
trend shows the positive relationship.
75
5. NET WORTH TREND
Is a concept applicable to individuals and businesses as a key. A measure of how much an

entity is worth consistent increase in net worth indicates good financial health; conversely,
net worth may be depleted by annual operating losses or a substantial decrease in asset values
relative to liabilities.
TABLE 3.5: SHOWING THE NET WORTH TREND

NET WORTH TREND
YEARS NET WORTH PERCENTAGE
2017 13,917.44 100%
2018 12,694.71 91%
2019 13,997.39 101%
2020 16,813.30 121%
2021 16,751.71 120%
CHART3.5: SHOWING NET WORTH TREND
NET WORTH TREND

140
120
121 120
100
PERCENTAGE
100 101
80 91
60
40
20
0
2017 2018 2019 2020 2021
YEARS
INTERPERTATION:
From the above data shows the Working capital trend from the year 2017 to 2021 ,in the year
2017 the balance as 100% and in upcoming years the net worth decreasing at a increasing
stage gradually till 2021,in the year 2020 it increase to 121% and in the year 2021 it a small
decrease to 120%. Net worth trend shows the positive relationship.
76
CORRELATION
Correlation, in the finance and investment industries, is a statistic that measures the degree to
which two securities move in relation to each other. Correlations are used in
advanced portfolio management, computed as the correlation coefficient, which has a value
that must fall between -1.0 and +1.0.Correlation is a statistic that measures the degree to
which two variables move in relation to each other. In finance, the correlation can measure
the movement of a stock with that of a benchmark index, such as the S&P 500.Correlation
measures association, but doesn't show if x causes y or vice versa, or if the association is
caused by a third–perhaps unseen–factor.
The correlation coefficient is a value that indicates the strength of the relationship between
variables. The coefficient can take any values from -1 to 1. The interpretations of the values
are:
 Perfect negative correlation. (-1)
The variables tend to move in opposite directions (i.e., when one variable increases, the other
variable decreases).
 No correlation. (0)
The variables do not have a relationship with each other.
 Perfect positive correlation. (1)
The variables tend to move in the same direction (i.e., when one variable increases, the other
variable also increases).
77
1. NET PROFIT AND DIVIDEND CORRELATION
FORMULA:
n(∑xy) – (∑x) (∑y)
r=
√(n∑x2 - ∑x2) (n∑y2 - ∑y2)
TABLE 3.6: SHOWING THE NET PROFIT AND DIVIDEND CORRELATION
NET PROFIT AND DIVIDEND CORRELATION
NET PROFIT DIVIDEND

YEAR X^2 Y^2 XY
(X) (Y)
2017 14,499 .09 12352.76 210223610.83 152590680 179103778.99
2018 9,293.42 10242.23 86367655.30 104903275 95185345.13
2019 10,469.67 8105.58 109613989.91 65700427 84862747.76
2020 11,280.88 7395.27 127258253.57 54690018 83425153.44
2021 7,640.10 7703.41 58371128.01 59342526 58854822.74
TOTA 591,834,637.6 437,226,926.1 501,431,848.0

53,183.16 45,799.25
L 2 3 5
CORRELATION: 71410399.63 = 0.035095209

2034762057
INTERPRETATION:
The above data shows the net profit and dividend correlation for 2017 – 2021 and the
correlation between dividend and net profit is 0.035095209. There is very high degree of
positive correlation so the trend moves in the same direction.
78
2. SALES AND DIVIDEND CORRELATION
FORMULA :
n(∑xy) – (∑x) (∑y)
r=
√(n∑x2 - ∑x2) (n∑y2 - ∑y2)
TABLE 3.7: SHOWING THE SALES AND DIVIDEND CORRELATION
SALES AND DIVIDEND CORRELATION
YEAR SALES (X) DIVIDEND (Y) X^2 Y^2 XY
2017 285.1 12352.76 81282.01 152590679.6 3521771.876
2018 357.06 10242.23 127491.8436 104903275.4 3657090.644
2019 315.39 8105.58 99470.8521 65700427.14 2556418.876
2020 231.58 7395.27 53629.2964 54690018.37 1712596.627
2021 36.14 7703.41 1306.0996 59342525.63 278401.2374
TOTAL 1225.27 45799.25 363180.101 437226926.1 11726279.26
CORRELATION : 2514949.253 = 0.04989474

50405098.08
INTERPRETATION:
79
The above data shows the sales and dividend correlation for 2017 – 2021 and the correlation
between sales and dividend is 0.04989474. There is very high degree of positive correlation
so the trend moves in the same direction
3. SALES AND NET PROFIT CORRELATION
FORMULA:
n(∑xy) – (∑x) (∑y)

r=
√(n∑x2 - ∑x2) (n∑y2 - ∑y2)
TABLE 3.8: SHOWING SALES AND NET PROFIT CORRELATION
SALES AND NET PROFIT CORRELATION
NET PROFIT
YEAR SALES (X) X^2 Y^2 XY
(Y)
2017 285.1 14,499.09 81282.01 210223611 4133690.56
2018 357.06 9,293.42 127491.84 86367655 3318308.55
2019 315.39 10,469.67 99470.85 109613990 3302029.22
2020 231.58 11,280.88 53629.30 127258254 2612426.19
2021 36.14 7,640.10 1306.10 58371128 276113.21
TOTAL 1,225.27 53,183.16 363,180.10 591,834,637.62 13,642,567.73
CORRELATION: 3049108.196 = 0.051994

58643678.45
INTERPRETATION:
80
The above data shows the sales and net profit correlation for 2017 – 2021 and the correlation
between sales and net profit is 0.051994. There is very high degree of positive correlation so
the trend moves in the same direction.
4. WORKING CAPITAL AND NET PROFIT CORRELATION
FORMULA:
n(∑xy) – (∑x) (∑y)

r=
√(n∑x2 - ∑x2) (n∑y2 - ∑y2)
TABLE 3.9: SHOWING THE WORKING CAPITAL AND NET PROFIT

CORRELATION
WORKING CAPITAL AND NET PROFIT CORRELATION
WORKING NET
YEAR CAPITAL PROFIT X^2 Y^2 XY
(X) (Y)
2017 2,315.52 14,499.09 5361632.87 210223611 33572932.88
2018 320.00 9,293.42 102400.00 86367655 2973894.40
2019 1,230.50 10,469.67 1514130.25 109613990 12882928.94
2020 4,607.52 11,280.88 21229240.55 127258254 51976880.22
2021 3,691.69 7,640.10 13628575.06 58371128 28204880.77
TOTAL 12,165.23 53,183.16 41,835,978.73 591,834,637.62 129,611,517.2
81
CORRELATION : 26816335.78 = 0.001704
629412186.8
INTERPRETATION:
The above data shows the working capital and net profit correlation for 2017– 2021 and the
correlation between working capital and net profit is 0.001704. There is degree of positive
correlation, so the trend moves in the same direction.
5. EPS AND DPS CORRELATION
FORMULA:
n(∑xy) – (∑x) (∑y)

r=
√(n∑x2 - ∑x2) (n∑y2 - ∑y2)
TABLE 3.10: SHOWING EPS AND DPS CORRELATION
EPS AND DPS CORRELATION
YEAR EPS (X) DPS (Y) X^2 Y^2 XY
2017 23.12 23.12 534.53 535 534.53
2018 14.97 14.97 224.10 224 224.10
2019 16.87 16.87 284.60 285 284.60
2020 18.31 18.31 335.26 335 335.26
2021 12.4 12.4 153.76 154 153.76
TOTAL 85.67 85.67 1,532.25 1,532.25 1,532.25
CORRELATION : 321.8926 =0.052520
82
6128.9932
INTERPRETATION:
The above data shows the EPS and DPS correlation for 2017- 2021. The correlation between
EPS and DPS is 0.052520 .There is very high degree of positive correlation so the trend
moves in the same direction.
CHAPTER 4
FINDING AND SUMMARY
83

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INDEX

S.NO. CHAPTER PAGE NO.

1 PROFILE OF THE COMPANY

4 SUMMARY OF FINDINGS & SUGGESTIONS

CIL is a company - a privileged status conferred by Government of India to select state

The producing Indian subsidiary companies of Coal India Limited:

1. Eastern Coalfields Limited (ECL)

2. Bharat Coking Coal Limited (BCCL)

3. Central Coalfields Limited (CCL)

4. Western Coalfields Limited (WCL)

5. South Eastern Coalfields Limited (SECL)

6. Northern Coalfields Limited (NCL)

7. Mahanadi Coalfields Limited (MCL)

Eastern Coalfields are managed directly by CIL.

Mahanadi Coalfields Limited has four (4) subsidiaries which are

• MJSJ Coal Limited

• MNH Shakti Ltd

• Mahanadi Basin Power Ltd

• Power Trans Company Private Ltd

• M/s Chhattisgarh East Railway Ltd (CERL)

• M/s Chhattisgarh East- West Railway Ltd (CEWRL)

• CCL has one subsidiary

• Jharkhand Central Railway Ltd

UNMATCHED STRATEGIC RELEVANCE:

PRODUCTION AND GROWTH:

 Clean Coal Technology:

 Touching Peoples’ lives at the grass root level:

ACQUISITION OF COAL ASSETS ABROAD:

Coal India is planning to hire 1326 more employees in year 2021.

• These have coking properties

SEMI COKING COAL:

• These have comparatively less coking properties than coking coal

These are coals without coking properties.

• Mainly used as thermal grade coal for power generation

• Used in manufacturing of hard coke for steel making

• Used for power generation

CIL COKE / LTC COKE :

• Used in furnaces and kilns of industrial units

• Used in industrial furnaces as well as for domestic purposes

TAR / HEAVY OIL / LIGHT OIL / SOFT PITCH :

BOARD EXECUTIVE DIRECTORS:

 Shri Pramod Agrawal - Chairman-cum-Managing-Director

 Shri S N Tiwary - Director (Marketing)

 Shri Vinay Ranjan - Director(P&IR)

CORPORATE SOCIAL RESPONSIBILITY

(g) NCL has provided 50 Ambulances to Government of Uttar Pradesh.

TYPES OF FINANCIAL ANALYSIS

A comparative balance sheet presents side-by-side information about an entity's assets,

PARTICULARS 2016 2017 INCREASE/DECREASE REMARKS

Other Long Term Increased

Total Non-Current Assets 17,078.18 17,121.10 42.92 0.25% Increased

Less: Excise/Sevice Decrease

Revenue From Increase

Operating And Direct Increase

Depreciation And 17.52 18.14 0.62 3.54% Increase

Profit/Loss For The Decrease

Less: Excise/Sevice Decrease

Revenue From Operations Decrease

Cost Of Materials Decrease

Operating And Direct Increase

Changes In Inventories Of Decrease by

Deferred Tax 0 0 0 Nil