Financial Results Trend
Consolidated Profit & Loss
Rs. Crore | |||
Particulars | Year Ended | ||
---|---|---|---|
31st Mar 15 | 31st Mar 14 | ||
1 | Income from Operation | ||
(a) Net Sales / Income from Operations (Net of Excise Duty) | 26,115 | 25,619 | |
(b) Other Operating Income | 401 | 272 | |
Total Income from Operations (Net) | 26,516 | 25,892 | |
2 | Expenses | ||
(a) Cost of Material Consumed | 3,322 | 2,944 | |
(b) Purchase of Stock-In-Trade | 2,326 | 2,184 | |
(c) Change in Inventories of Finished Goods, | (95) | (227) | |
Work-In-Progress and Stock-In-Trade | |||
(d) Employee Benefit Expense | 2,421 | 3,895 | |
(e) Depreciation and Amortisation Expense | 1,703 | 1,609 | |
(f) Benefits Paid - Life Insurance Business | 3,772 | 3,666 | |
(g) Change in Valuation of Liability in respect of Life Insurance Policies |
244 | (343) | |
(h) Other Expenses | 9,136 | 9,186 | |
Total Expenses | 22,829 | 22,914 | |
3 | Profit from Operations before Other Income, Finance Costs and Exceptional Items (1 - 2) | 3,688 | 2,977 |
4 | Other Income | 408 | 340 |
5 | Profit before Finance Costs and Exceptional Items (3 + 4) | 4,095 | 3,318 |
6A | Finance Costs related to Lending Activity of Subsidiaries | 1,105 | 742 |
6B | Other Finance Costs | 652 | 809 |
7 | Profit after Finance Costs but before Exceptional Items (5 - 6) | 2,338 | 1,767 |
8 | Exceptional Items | (13) | 5 |
9 | Profit before Tax (7 + 8) | 2,325 | 1,772 |
10 | Tax Expenses | 833 | 550 |
11 | Net Profit for the Period (9 - 10) | 1,491 | 1,222 |
12 | Minority Interest | 76 | 79 |
13 | Net Profit after Taxes and Minority Interest (11 - 12) | 1,416 | 1,143 |
14 | Paid Up Equity Share Capital (Face Value of Rs. 10 each) | 130 | 130 |
15 | Basic Earnings per Share ( Rs.) | 108.79 | 92.08 |
Consolidated Balance Sheet
Rs. Crore | |||
Particulars | As at | As at | |
---|---|---|---|
31st Mar 2015 | 31st Mar 2014 | ||
A | EQUITY AND LIABILITIES | ||
1 | Shareholders' Funds: | ||
(a) Share Capital | 130 | 130 | |
(b) Reserves & Surplus | 12,738 | 11,059 | |
(c) Money Received against Share Warrants | - | - | |
Sub Total - Shareholders' Funds | 12,868 | 11,189 | |
2 | Preference Share issued by Subsidiary and Joint Venture Companies | 3 | 0 |
3 | Minority Interest | 802 | 778 |
4 | Non-current Liabilities | ||
(a) Long-term Borrowings | 15,037 | 11,896 | |
(b) Deferred Tax Liabilities (Net) | 549 | 552 | |
(c) Other Long-term Liabilities | 473 | 562 | |
(d) Long-term Provisions | 290 | 243 | |
(e) Policyholders' Fund | 27,184 | 22,802 | |
(f) Fund for Discontinued Policies | 524 | 475 | |
(g) Fund for Future Appropriations | 10 | 18 | |
Sub Total - Non-current Liabilities | 44,068 | 36,548 | |
5 | Current Liabilities | ||
(a) Short-term Borrowings | 6,421 | 6,534 | |
(b) Trade Payables | 3,080 | 3,091 | |
(c) Other Current Liabilities # | 6,873 | 4,286 | |
(d) Short-term Provisions | 388 | 343 | |
(e) Policyholders' Fund | 738 | 207 | |
(f) Fund for Discontinued Policies | 374 | - | |
(g) Fund for Future Appropriations | 8 | 55 | |
Sub Total - Current Liabilities | 17,881 | 14,515 | |
TOTAL - EQUITY AND LIABILITIES | 75,622 | 63,031 | |
B | ASSETS | ||
1 | Non-current Assets | ||
(a) Fixed Assets | 13,053 | 14,238 | |
(b) Goodwill on Consolidation | 2,785 | 3,761 | |
(c) Non-current investments | - | - | |
i) Investments of Life Insurance Business | 5,351 | 3,357 | |
ii) Other Investments | 551 | 478 | |
(d) Assets Held to Cover Linked Liabilities of Life Insurance Business | 21,530 | 17,000 | |
(e) Deferred Tax Assets (Net) | 64 | 48 | |
(f) Long-term Loans and Advances | 11,071 | 6,532 | |
(g) Other Non-current Assets | 27 | 44 | |
Sub Total - Non-Current Assets | 54,432 | 45,458 | |
2 | Current Assets | ||
(a) Current Investments | |||
i) Investments of Life Insurance Business | 332 | 773 | |
ii) Other Investments | 3,608 | 663 | |
(b) Assets Held to Cover Linked Liabilities of Life Insurance Business | 2,934 | 3,635 | |
(c) Inventories | 1,743 | 1,542 | |
(d) Trade Receivables | 2,496 | 2,643 | |
(e) Cash & Bank Balances | 1,128 | 719 | |
(f) Short-term Loans and Advances | 8,430 | 6,841 | |
(g) Other Current Assets | 520 | 757 | |
Sub Total - Current Assets | 21,190 | 17,573 | |
TOTAL - ASSETS | 75,622 | 63,031 | |
# | Includes Current maturities of Long-term Debts ` 4,527 Crores (Previous Year : `2,110 Crores) |
Consolidated Cash Flow Statement
Rs. Crore | |||||||||
PARTICULARS | 2013-14 | 2012-13 | |||||||
---|---|---|---|---|---|---|---|---|---|
A | CASH FLOW FROM OPERATING ACTIVITIES | ||||||||
Profit before tax | 1,772.3 | 1,525.7 | |||||||
Adjustments for : | |||||||||
Exceptional Items | (5.4) | - | |||||||
Depreciation and Amortisation Expenses | 1,608.9 | 1,295.5 | |||||||
Change in Valuation of Liability in respect of Life Insurance Policies in Force | (343.1) | (324.0) | |||||||
Diminution / (Reversal of Diminution) in value of fertiliser bonds | 0.6 | (0.6) | |||||||
Bad Debts and Provision for Bad and Doubtful Debt and Advances including Contingency Provision for Standard Assets of NBFC | 101.1 | 54.9 | |||||||
Expense on Employee Stock Options Scheme | 2.9 | (4.0) | |||||||
Expense on Employee Stock Appreciation Rights | 0.5 | - | |||||||
Unrealised (Gain) / Loss on Foreign Exchange | 13.3 | (3.4) | |||||||
Finance Cost | 819.7 | 865.1 | |||||||
Interest Income | (70.3) | (113.1) | |||||||
(Profit) / Loss on Fixed Assets sold | (2.1) | 12.5 | |||||||
(Gain) / Loss on Sale of Investments | (53.1) | (36.9) | |||||||
Dividend Income | (15.7) | (10.9) | |||||||
Demerger Expenses Paid | - | (9.1) | |||||||
2,057.3 | 1,725.9 | ||||||||
OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES | 3,829.6 | 3,251.5 | |||||||
Adjustments for: | |||||||||
Decrease / (Increase) in Trade Receivables | 167.2 | (1,153.4) | |||||||
Decrease / (Increase) in Loans & Advances | (4,063.0) | (3,667.4) | |||||||
Decrease / (Increase) in Other Assets | (115.1) | (132.4) | |||||||
Decrease / (Increase) in Inventories | (274.0) | (107.7) | |||||||
Decrease / (Increase) in Investment of Life Insurance Policyholders | 447.6 | 472.4 | |||||||
Increase / (Decrease) in Trade Payables | 233.4 | 460.2 | |||||||
Increase / (Decrease) in Other Liabilities | 268.2 | 188.3 | |||||||
Increase / (Decrease) in Provisions | 83.1 | (3,252.6) | 22.4 | (3,917.5) | |||||
CASH GENERATED FROM OPERATIONS | 577.0 | (666.0) | |||||||
Income Taxes Refund/(Paid) | (529.4) | (327.7) | |||||||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | 47.6 | (993.7) | |||||||
B | CASH FLOW FROM INVESTING ACTIVITIES | ||||||||
Purchase of Fixed Assets | (4,427.5) | (1,660.9) | |||||||
Sale of Fixed Assets | 34.6 | 23.7 | |||||||
Acquisition of additional shares / investment in subsidiary (Net of Cash) | (291.4) | (11.0) | |||||||
Sale of Carbon Black Business (Net of Cash & Cash Equivalents) | 314.7 | - | |||||||
Purchase of Long-term Investments | (105.4) | (407.8) | |||||||
Sale of Long-term Investments | 75.0 | 66.0 | |||||||
Sale/ (Purchase) of Current Investments (net) | 1,598.3 | (2,194.2) | |||||||
Inter-Corporate Deposit - Received Back | 2.0 | 74.5 | |||||||
Interest received | 73.1 | 120.3 | |||||||
(Increase) / Decrease in Other Bank Deposits (Original Maturity more than three months) | 84.4 | 267.7 | |||||||
Dividend Received from Long Term Investment | 4.7 | 5.2 | |||||||
Dividend Received from Current Investment | 11.0 | 5.7 | |||||||
NET CASH (USED IN)/FROM INVESTING ACTIVITIES | (2,626.5) | (3,710.9) | |||||||
C | CASH FLOW FROM FINANCING ACTIVITIES | ||||||||
Proceeds from Issue of Shares (including Securities Premium) | 681.6 | 611.0 | |||||||
Proceeds from Issue of share warrants | - | 223.6 | |||||||
Repayment of Borrowings | (1,343.5) | (3,385.4) | |||||||
Proceeds from Borrowings | 4,202.6 | 7,948.7 | |||||||
Buy Back of Shares by Subsidiary from Minority Shareholders | (72.8) | - | |||||||
Dividend paid by the Company | (78.2) | (68.1) | |||||||
Dividend paid by Subsidiaries to Minority Shareholders | (33.0) | (53.4) | |||||||
Dividend Distribution Tax Paid by Subsidiaries / Joint Ventures | (28.7) | (39.0) | |||||||
Interest paid | (777.0) | (855.7) | |||||||
NET CASH (USED IN)/FROM FINANCING ACTIVITIES | 2,551.0 | 4,381.6 | |||||||
Foreign Exchange difference on translation of foreign currency cash and cash equivalents | 0.6 | 1.6 | |||||||
NET INCREASE / (DECREASE) IN CASH AND EQUIVALENTS | (27.2) | (321.4) | |||||||
CASH AND CASH EQUIVALENTS (OPENING BALANCE) | 693.8 | 1,012.0 | |||||||
CASH AND CASH EQUIVALENTS (CASH TAKEN OVER ON DEMERGER) | - | 3.2 | |||||||
CASH AND CASH EQUIVALENTS (CLOSING BALANCE) | 666.5 | 693.8 |
Standalone Profit & Loss Account
Rs. Crore | |||
Particulars | Year Ended | ||
---|---|---|---|
31st Mar 15 | 31st Mar 14 | ||
1 | Income from Operation | ||
(a) Net Sales / Income from Operations (Net of Excise Duty) | 8,868 | 7,950 | |
(b) Other Operating Income | 70 | 70 | |
Total Income from Operations (Net) | 8,938 | 8,021 | |
2 | Expenses | ||
(a) Cost of Material Consumed | 3,322 | 2,944 | |
(b) Purchase of Stock-In-Trade | 1,283 | 1,191 | |
(c) Change in Inventories of Finished Goods, | (43) | (204) | |
Work-In-Progress and Stock-In-Trade | |||
(d) Employee Benefit Expense | 742 | 639 | |
(e) Power and Fuel | 843 | 955 | |
(f) Depreciation and Amortisation Expense | 189 | 199 | |
(g) Other Expenditure | 1,777 | 1,621 | |
Total Expenses | 8,114 | 7,345 | |
3 | Profit from Operations before Other Income, Finance Costs and Exceptional Items (1 - 2) | 825 | 676 |
4 | Other Income | 172 | 371 |
5 | Profit before Finance Costs and Exceptional Items (3 + 4) | 996 | 1,047 |
6 | Finance Costs | 263 | 267 |
7 | Profit after Finance Costs but before Exceptional Items (5 - 6) | 733 | 780 |
8 | Exceptional Items | - | 24 |
9 | Profit before Tax (7 + 8) | 733 | 804 |
10 | Tax Expenses | 205 | 130 |
11 | Net Profit for the Period (9 - 10) | 528 | 674 |
12 | Paid Up Equity Share Capital (Face Value of Rs. 10 each) | 130 | 130 |
13 | Reserve excluding Revaluation Reserve | 8,389 | 7,978 |
14 | Basic Earnings per Share ( Rs.) | 41 | 54 |
Standalone Balance Sheet
Rs. Crore | |||
Particulars | As at | As at | |
---|---|---|---|
31st Mar 2015 | 31st Mar 2014 | ||
A | EQUITY AND LIABILITIES | ||
1 | Shareholders' Funds: | ||
(a) Share Capital | 130 | 130 | |
(b) Reserves & Surplus | 8,389 | 7,978 | |
(c) Money Received against Share Warrants | - | - | |
Sub Total - Shareholders' Fund | 8,519 | 8,108 | |
2 | Non-current Liabilities | ||
(a) Long-term Borrowings | 1,480 | 1,392 | |
(b) Deferred Tax Liabilities (Net) | 106 | 88 | |
(c) Other Long-term Liabilities | 115 | 97 | |
(d) Long-term Provisions | 6 | 5 | |
Sub Total - Non-current Liabilities | 1,708 | 1,582 | |
3 | Current Liabilities | ||
(a) Short-term Borrowings | 1,959 | 2,134 | |
(b) Trade Payables | 1,703 | 1,505 | |
(c) Other Current Liabilities# | 494 | 453 | |
(d) Short-term Provisions | 266 | 209 | |
Sub Total - Current Liabilities | 4,423 | 4,301 | |
TOTAL - EQUITY AND LIABILITIES | 14,650 | 13,991 | |
B | ASSETS | ||
1 | Non-current Assets | ||
(a) Fixed Assets | 1,868 | 1,848 | |
(b) Non-current investments | 8,695 | 7,952 | |
(c) Long-term Loans and Advances | 197 | 192 | |
(d) Other Non-current Assets | 1 | 1 | |
Sub Total - Non-current Assets | 10,760 | 9,994 | |
2 | Current Assets | ||
(a) Current Investments | 30 | 16 | |
(b) Inventories | 1,247 | 1,104 | |
(c) Trade Receivables | 2,251 | 2,046 | |
(d) Cash & Bank Balance | 45 | 39 | |
(e) Short-term Loans and Advances | 274 | 721 | |
(f) Other Current Assets | 43 | 73 | |
Sub Total - Current Assets | 3,890 | 3,998 | |
TOTAL - ASSETS | 14,650 | 13,991 | |
# | Includes Current maturities of Long-term Debts ` 2,484 Crores (Previous Year ` 2,272 Crores) |
Standalone Cash Flow Statement
Rs. Crore | |||||||||
PARTICULARS | 2013-14 | 2012-13 | |||||||
---|---|---|---|---|---|---|---|---|---|
A | CASH FLOW FROM OPERATING ACTIVITIES | ||||||||
Profit before tax | 804.3 | 536.9 | |||||||
Adjustments for : | |||||||||
Exceptional item | (24.1) | - | |||||||
Depreciation and Amortisation Expenses | 199.0 | 219.2 | |||||||
Provision for Bad and Doubtful Debt and Advances | 3.3 | 4.0 | |||||||
Bad Debts | 0.1 | - | |||||||
Diminution/ (Reversal of Diminution) in value of fertiliser bonds | 0.6 | (0.6) | |||||||
Employee Stock Options Expenses | 1.5 | 0.0 | |||||||
Unrealised (Gain) / Loss on Foreign Exchange | 12.4 | 4.4 | |||||||
Finance Costs | 266.6 | 360.0 | |||||||
Interest Income | (44.1) | (36.5) | |||||||
(Gain) / Loss on Fixed Assets sold | 0.9 | 3.0 | |||||||
(Gain) / Loss on Sale of Investments | (41.7) | (7.6) | |||||||
Gain on Buy-back of Investments of Subsidiary | (144.3) | - | |||||||
Dividend Income | (122.4) | (151.1) | |||||||
107.8 | 394.8 | ||||||||
OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES | 912.1 | 931.7 | |||||||
Adjustments for: | |||||||||
Decrease / (Increase) in Trade Receivables | 240.9 | (1,121.7) | |||||||
Decrease / (Increase) in Loans & Advances | (0.7) | 5.5 | |||||||
Decrease / (Increase) in Other Assets | (4.9) | (9.4) | |||||||
Decrease / (Increase) in Inventories | (257.2) | (72.6) | |||||||
Increase / (Decrease) in Trade Payable | 270.6 | 297.5 | |||||||
Increase / (Decrease) in Other Liabilities | 26.6 | 71.9 | |||||||
Increase / (Decrease) in Provision | 5.8 | 14.6 | |||||||
281.1 | (814.1) | ||||||||
CASH GENERATED FROM OPERATIONS | 1,193.2 | 117.6 | |||||||
Income Taxes Refund/(Paid) | (205.0) | (116.4) | |||||||
NET CASH (USED IN)/ FROM OPERATING ACTIVITIES | 988.2 | 1.2 | |||||||
B | CASH FLOW FROM INVESTING ACTIVITIES | ||||||||
Purchase of Tangible assets | (405.3) | (428.4) | |||||||
Purchase of Intangible assets | (5.8) | (27.5) | |||||||
Sale of Tangible Assets | 10.3 | 7.2 | |||||||
Acquisition of additional shares /Investment in subsidiary | (2,174.2) | (703.1) | |||||||
Sale of Investment in Subsidiary | - | 444.5 | |||||||
Buy Back of investments by Subsidiary | 207.2 | - | |||||||
Sale of Carbon Black Business (Net of Cash and Cash equivalent) | 314.7 | - | |||||||
Sale/ (Purchase) of Current Investments (net) | 278.0 | (270.4) | |||||||
Purchase of Subsidiary Optionally Fully Convertible Debentures | (338.3) | - | |||||||
Redemption of Subsidiary Optionally Fully Convertible Debentures | 380.0 | - | |||||||
Inter Corporate Deposits to subsidiaries - given | (784.4) | (1,953.8) | |||||||
Inter Corporate Deposits to subsidiaries - received back | 293.3 | 2,189.3 | |||||||
Other Bank Deposits (Original Maturity more than three months) - Matured | - | 374.8 | |||||||
Other Bank Deposits (Original Maturity more than three months) - Placed | - | (146.4) | |||||||
Interest received from Subsidiaries | 8.0 | 6.7 | |||||||
Interest received- Others | 34.6 | 34.1 | |||||||
Dividend received From Subsidiaries | 87.5 | 145.9 | |||||||
Dividend received From Joint Venture | 25.1 | - | |||||||
Dividend received on Other Long tem investment | 4.7 | 5.2 | |||||||
Dividend received on Current investments | 5.1 | 72.9 | |||||||
NET CASH (USED IN)/FROM INVESTING ACTIVITIES | (2,059.5) | (249.3) | |||||||
C | CASH FLOW FROM FINANCING ACTIVITIES | ||||||||
Proceeds from Issue of Shares (including Securities Premium) | 674.4 | 609.7 | |||||||
Proceeds from Issue of Share Warrants | - | 223.6 | |||||||
Repayment of Long term Borrowings | (480.9) | (492.6) | |||||||
Proceeds from Long Term Borrowings | 259.0 | 496.6 | |||||||
Short term Borrowings (Net) | 951.9 | (456.1) | |||||||
Dividends paid | (78.2) | (68.1) | |||||||
Interest paid | (271.3) | (378.6) | |||||||
NET CASH (USED IN)/FROM FINANCING ACTIVITIES | 1,054.9 | (65.5) | |||||||
NET INCREASE IN CASH AND EQUIVALENTS | (16.4) | (313.6) | |||||||
CASH AND CASH EQUIVALENTS (OPENING BALANCE) | 52.3 | 365.9 | |||||||
CASH AND CASH EQUIVALENTS (CLOSING BALANCE) | 35.9 | 52.3 | |||||||