Annual Report Analysis (SAIL)
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Transcript of Annual Report Analysis (SAIL)
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Directors message
The company increased production of value added
steel and achieved the saleable steel production of
12.9 MT representing full capacity utilization.
The company achieved a turnover of 47,041 crore
during 2010-11
The company has also undertaken expansion andmodernization plan with focus on higher production
of value added products.
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Money in the business
Share capital has remained the same from
previous year
Reserves and surplus increased by 3752.27cr
Secured loans increased by 4058.01cr
403.77cr worth Unsecured loans cleared
Totally funds increased by 7483.16cr
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Employing the capital
Net Fixed assets increased by 8740.08cr
Investments worth 16.01cr were purchased
10621.46 worth fixed assets purchased
Decrease in working capital 1272.23cr
50.87cr worth assets sold
Loss incurred on the sale
Increasing its fixed assets by 5000cr to 8500cr
every year from 2008
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Profitability
Increase % Proportion to sales
Gross profit 46%(09), 49%(10), 45%(11)
Operating costs 12711.30, 11337.47, 12150.40 26% (09), 25% (10), 25.8% (11)
Net profit 9399cr, 10132cr, 7194cr 19% (09), 23% (10), 15.3% (11)
Operating profit 10732.45, 10,823.90, 9208.22 22% (09), 24.6% (10), 19.5% (11)
2009 2010 2011
Sales 48738 43935 47041Profit after Tax 6170 6574 4905
In crores
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Cash and fund flow analysis
Liquidity positions over a period current ratios of.. 3.31 in 2011 3.54 in 2010
2.80 in 2009
Dividend paid per share..
2.40 in 2011
3.30 in 2010
2.60 in 2009
Increase in value of assets(purchased and sold)
Dividend paid..991cr in 2011
Working capital decreased because:
Debtors decreased
Current liabilities increased
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Firm has been raising loans(debts) to meet itsneed of funds and also paying off their previous
debts on time periodically
It has also been increasing Shareholders fund bytransferring a significant part of income to
reserves and surplus
In 2011 out of the total PAT 29679.03cr,3752.27cr were transferred to reserves and
surplus
Company has also reduced on their investment inlong term investments
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Investment perspective
Sail has an Return on Investment of12.2% on2011 as compared to 19.77% on 2010
Return on shareholders fund is 13.23% on2011 as compared to 19.73% on 2010
Earnings per share..
11.87 in 2011
16.35 in 2010
14.94 in 2009
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Highlights of 2011
Turnover of47,041cr compared to 43,935cr last year,showing 7% year on year growth
Total dividend payout of24% (2.40 per share),
including interim dividend of12%
As on 31.3.2011, company's cash reserves in termdeposits stood at over 17,000cr
The company's total borrowings stood at 20,165cr
taking its debt-equity ratio to 0.54:1
Net worth as on 31.3.11 was 37,069cr compared to
33,317cr last year
Capex touched a record 11,280cr, 6% higher than the
previous year
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Notes The financial statements are prepared under the historical cost
convention on accrual basis of accounting
In preparing the financial statements in conformity with accounting
principles generally accepted in India
Fixed assets are stated at cost of acquisition less depreciation
Expenditure on development of land, including leasehold land, is
capitalized as part of cost of land
Cost includes all identifiable expenditure including trial-run
expenses
Depreciation is provided on straight-line method at the rates
specified in Schedule XIV to the Companies Act, 1956 Long-term investments (including investments in subsidiary
companies and joint ventures) are carried at cost
Raw materials, stores & spares and finished/semi-finished products
(including process scrap) are valued at lower of cost and net
realisable value of the respective plants/units
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Auditors Certificate
To The Members of Steel Authority of India Limited
We have audited the attached Balance Sheet of STEEL AUTHORITY OF INDIA LIMITED, as on 31st March 2011,the Profit & Loss Account and the Cash Flow Statement of thecompany for the year ended on that date annexed thereto, inwhich are incorporated the accounts of Plants, Units,Branches and other Offices audited by the Branch Auditors inaccordance with the letter of appointment ofComptroller &Auditor General of India. These financial statements are theresponsibility of the company's management. Ourresponsibility is to express an opinion on these financialstatements based on our audit.
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