BF PROJECTS RATIO ANAL

IEMR

NAME ANGSHUMAN CHATTERJEE

ROLL NO 7
RATIO ANALYSIS
IEMR

N CHATTERJEE
 RANBAXY

2005 2006 2007 2008

Current Assets, Loans and Advances (millions) (millions) (millions) (millions)
Inventories 8,909.33 9,549.12 9,760.71 11,985.19
Sundry Debtors 8,066.18 10,137.45 8,829.07 10,245.35
Cash and Bank 1,165.93 711.51 1,804.50 19,349.39
Other Current Assets 1,179.16 780.85 1,020.25 1,345.54
Loans and Advances 3,383.08 3,911.01 6,886.29 6,745.27
Total 22703.68 25089.94 28300.82 49670.74

Current Liabilities and Provisions

Current Liabilities 7,282.80 7,233.30 8,331.20 35,679.74
Provisions 4,139.92 5,226.68 7,381.42 5,497.45
Total 11422.72 12459.98 15712.62 41177.19

Current Ratio 1.9875896459 2.0136420765 1.8011521949 1.2062683248

CIPLA
2005 2006 2007 2008
Current Assets, Loans and Advances (crores) (crores) (crores) (crores)
Inventories 957 978.6 1,120.49 1,398.32
Sundry Debtors 875.96 1,028.78 1,393.91 1,837.15
Cash and Bank 44.45 56.33 79.12 52.84
fd 0.03 75.16 0.16 0.16
Loans and Advances 414.84 695.81 1,150.30 1,131.10
Total 2292.28 2834.68 3743.98 4419.57

Current Liabilities and Provisions

Current Liabilities 733.84 643.78 980.05 1,177.00
Provisions 272.31 410.13 416.81 391.71
Total 1006.15 1053.91 1396.86 1568.71
 Current Ratio 2.2782686478 2.6896793844 2.6802829203 2.8173276131

LUPIN

2005 2006 2007 2008

Current Assets, Loans and Advances (millions) (millions) (millions) (millions)
Inventories 3,429 4,298 7,893 9,572
Sundry Debtors 3,112 4039 7,439 9,180
Cash and Bank 4,774 3,845 2,742 778
Other Current Assets 0 0 0.00 0.00
Loans and Advances 2,000 2,448 2,367 2,780
Total 13315 14630 20441 22310

Current Liabilities and Provisions

Current Liabilities 3,147 3,515 6,019 10,335
Provisions 477 707 1,451 1,827
Total 3624 4222 7470 12162

Current Ratio 3.6741169978 3.465182378 2.7364123159 1.8344022365

3.5

2.5

1.5

0.5

0
2005 2006 2007 2008 2009
 1

0.5

0
2005 2006 2007 2008 2009

In this sheet we are actually looking into pharmaceutical sector. This sector is a very dynamic sector and ma
product. The first company Ranbaxy has been shown with a red line. If we analyze the company we fin
19349.39, with a liability of 35679.4 millions , the following year also the liability was huge . It must have
the current ratio all through was not that very healthy and it even we
the second company Cipla has been shown with green color in the comparative graph, if we see into their fi
been very good all through out and the ratio was also very healthy it has been more th
Similarly with Lupin also the situation is very good there was a constant and healthy growth in all the para
As a result of which the ration that is being shown is very
 2009
(millions) 2.5
12304.82
15346.48
7,541.24 2
1,558.74
9,648.16
Current Ratio

1.5
46399.44

1
26,558.44
7,630.34
0.5
34188.78

0
2005 2006 2007 2008 2009

1.3571540137

2009 3
(crores)
1,512.58 2.5
1,552.71
60.32 2
0.52
2,357.29
1.5
5483.42 Row 47

1,177.11
0.5
1,347.66
2524.77
0
1 2 3 4 5
 0.5

0
1 2 3 4 5

2.171849317

2009
(millions) 4
9715
3.5
11266
2015 3
0
4759 2.5
27755 2
Row 72
1.5
9649
1
2243
11892 0.5

0
1 2 3 4 5

2.3339219643

Cipla
Row 22
Row 47
Row 72 Lupin

Ranbaxy

7 2008 2009
7 2008 2009

ery dynamic sector and major players are always involved in huge R & D to come up with new
alyze the company we find that in 2008-09 they had a staggering cash and bank of about
ty was huge . It must have been the affect of slow down, they were adverse to investment.
ery healthy and it even went below 1.5 during 2008-09.
graph, if we see into their financials then we can easily make out that their growth model has
ealthy it has been more than 2. but in 2006 they had a sudden rise in FD.
althy growth in all the parameters, they had controlled inventory in a very efficient manner.
hat is being shown is very healthy in nature.
 TVS
FY05-06 FY06-07 FY07-08 FY08-09
Current Assets, Loans and Advances
Inventories 357.9 396.56 405.38 320.55
Sundary Debtors 58.19 111.4 87.86 181.56
Cash and Bank 24.35 86.56 3.73 42.05
Other Current Assets 0.3 0.3 0.3 2.42
Loans and Advances 214.88 227.58 277.52 349.51
Total 655.62 822.4 774.79 896.09

Current Liabilities and Provisions

Current Liabilities 524.46 577.02 505.76 550.34
Provisions 62.44 49.73 60.99 65.49
Total 586.9 626.75 566.75 615.83

Current Ratio 1.1170897938 1.3121659354 1.36707543 1.4550931263

HERO HONDA
FY05-06 FY06-07 FY07-08 FY08-09
Current Assets, Loans and Advances
Inventories 226.55 275.58 317.1 326.83
Sundary Debtors 158.66 335.25 297.44 149.94
Cash and Bank 23.22 35.26 130.58 217.49
FD 135.5 0.52 0.51 2.08
Loans and Advances 278.63 268.04 196.37 325.8
Total 822.56 914.65 942 1022.14

Current Liabilities and Provisions

Current Liabilities 1,192.98 1,171.50 1,455.57 1,678.93
Provisions 489.92 437.24 499.76 526.97
Total 1682.9 1608.74 1955.33 2205.9

Current Ratio 0.4887753283 0.5685505427 0.481760112 0.4633664264

 BAJAJ

FY05-06 FY06-07 FY07-08 FY08-09

Current Assets, Loans and Advances
Inventories 272.93 309.7 349.61 338.84
Sundary Debtors 301.55 529.83 275.31 358.65
Cash and Bank 80.84 62.16 54.74 135.68
FD 1.25 21.32 1.33 1.19
Loans and Advances 2,282.98 2,925.24 1,099.68 1,567.09
Total 2939.55 3848.25 1780.67 2401.45

Current Liabilities and Provisions

Current Liabilities 1,419.08 1,683.46 1,185.19 1,378.20
Provisions 2,315.89 2,833.79 834.04 1,224.15
Total 3734.97 4517.25 2019.23 2602.35

Current Ratio 0.787034434 0.851901046 0.881855955 0.9228005457

1.6

1.4

1.2

0.8

0.6

0.4

0.2

0
1 2 3 4 5

This page will deal with the overview of automobile sector in our country that takes into account a great po
 thing that the whole sector has a very low current ratio.. In comparative graph TVS motors has been show
line. As a whole if we look into the sector considering each of the parameter then we can say the growth was
bank in the year 2008-2009 for hero honda but overall for herohonda current ratiois very poor.same thing c
operates on just in time for which they maintain a very low inventory, and maintain very good relation with
can be a result of that also.
 FY09-10

289.73 1.6
220.31 1.4
101.01
2.17 1.2
351.97 1
965.19
0.8
Row 20
0.6
667.21
66.87 0.4
734.08
0.2

0
1 2 3 4 5
1.3148294464

FY09-10 0.7

0.6
436.4
108.39
0.5
1,863.48
43.73 0.4
438.46
Row 43
2890.46 0.3

0.2
3,965.69
0.1
1,026.35
4992.04 0
1 2 3 4 5

0.57901379
 FY09-10
1
446.21 0.9
272.84 0.8
100.2
0.7
1.21
2,291.29 0.6
3111.75 0.5
Row 66
0.4
0.3
2,218.06
2,248.72
0.2
4466.78 0.1
0
1 2 3 4 5

0.6966427718

TVS

Row 20 BAJAJ
Row 43
Row 66
Hero honda

4 5

kes into account a great portion in our economy. The comparative analysis clearly shows one
h TVS motors has been shown with red line, hero honda with green line and Bajaj with blue
we can say the growth was more or leess ok. But there had been a sudden increase in cash and
tiois very poor.same thing can be told reagrding Bajaj. All good industries in automobile sector
ntain very good relation with their vendors so have huge liabilities. The very low current ratio
a result of that also.
 SUZLON

2005-06 2006-07 2007-08 2008-09 2009-10

Inventories 1104.49 1375.25 1,483 1383.62 797.80

Sundry debtors 1,583.91 1,970.78 3,307 4,745 2,987
Cash and bank balances 316.24 351.39 876 212 599
Loans and advances 691.13 1,297.19 1,289 2,699 4,054
Total Current Assets 3695.77 4994.61 6954.44 9039.91 8438.23

Liabilities 858.32 1,108.47 1,946 3,397 3,642

Provision 402.50 393.51 636 369 244
Total Current Liabilities 1260.82 1501.98 2,582 3,766 3886.23
net current asset 2434.95 3492.63 4372.39 5273.87 4552.00
Current Ratio 2.93 3.33 2.69 2.40 2.17

NTPC
2005-06 2006-07 2007-08 2008-09
Inventories 23,405 25102 26757 32,434
Sundry Debtors 8,678 12523 29827 35,842
Cash and bank Balances 84,714 133146 149332 162,716
Loans and advances 30,287 40476 40354 68,469
Other Current Assets 10,161 10580 9218 9,792
Total Current Assets 157,245 221,827 255,488 309,253

liabilities 49,102 54221 55483 74,391

provisions 12,300 16042 23816 32,495
Total Current Liabilities 61,402 70,263 79,299 106,886
Current Ratio 2.56 3.16 3.22 2.89
 JSPL

2005-06 2006-07 2007-08 2008-09

(crore) (crore) (crore) (crore)
Inventories 568.65 642.44 996.07 1,209.96
Sundry Debtors 299.54 320.31 354.96 391.46
Cash and bank Balances 31.3 98.61 620.72 308.96
Loans and advances 591.01 931.49 1,483.33 3,199.04
Other Current Assets
Total Current Assets 1,491 1,993 3,455 5,109

liabilities 626.02 1,213.08 1,371.59 2,446.20

provisions 272.14 387.77 586.84 985.81
Total Current Liabilities 898 1,601 1,958 3,432
Current Ratio 1.66 1.24 1.76 1.49

3.5

2.5
Current Ratio

1.5

0.5

0
2005-06 2006-07 2007-08 2008-09

Power sector is alrge sclae capital itensive projects. The very genaral healthy trend would always be with h
The balance sheet of suzlon was showing a gradual decrease of inventory, I think that is apart of their efficie
might think about the decrese in demand,but seeing the present condition of power sector and growth in re
The balance sheet of suzlon was showing a gradual decrease of inventory, I think that is apart of their effi
there is an increase in liabilty and also in sundry debtors.the current ratio for them is also good which is about
 really shows that the sector really has ahealthy g
NTPC which is supposed to the greatest player in Indian power sector,shows ahealthy ratio of around 2 to 3
of a inventory . The invetory in case of thermal power plants largely consists of coal, and other machinery
efficient project management , that is reflected in inventory management.A constant increase of sundry debt
of the distribution companies, but there is a constant rise in their cash at bank and liabilities are well under
a matter concern is the sundry debtors.
JSPL has a integed steel and powerplant at Raigarh, looking into their industry structure it is suppoesd t
there was increase in their cash balance at bank afterthat it was normalised, their liabilities have increased ove
for their expansion in JPL for large sclae power projects expansion. But as a whole the current ratio of
 CURRENT RATIO
3.5
3
2.5
2
1.5
1
0.5
0
2005-06 2006-07 2007-08 2008-09 2009-10

2009-10
3.50
33,477
66,514 3.00
144,595
55,131 2.50
8,440
2.00
308,157
1.50 Row 36
76,876
30,705 1.00
107,581
0.50
2.86
0.00
1 2 3 4 5
 2009-10
(crore) 2
1,328.50 1.8
622.36
1.6
60.1
3,865.94 1.4
Current Ratio

1.2
5,877 1
0.8
2,898.40
1,343.71 0.6
4,242 0.4
1.39 0.2
0
FY05-06 FY06-07 FY07-08 FY08-09 FY09-10

SUZLON

NTPC

JSPL

-08 2008-09 2009-10

d would always be with he amount of projects in hand, good amount of sundry debtors .
at is apart of their efficient opeartion only that helped them to control inventory but some
sector and growth in renwable sector it can not be presumed. There had been a constant
that is apart of their efficient opeartion only that helped them to control inventory as
also good which is about 2. the company SUZLON which is a big player in wind power sector
tor really has ahealthy growth.
hy ratio of around 2 to 3, it is also been seen that they have a constant and agood amount
al, and other machinery parts for projects and expansion. These days NTPC is practising
increase of sundry debtors is a matterof concern this might be because unhealthy condition
liabilities are well under control.though the company has a good , greater than 2 still it is
n is the sundry debtors.
tructure it is suppoesd that it should have huge inventory.It is seen that in 2007-08-09
lities have increased over the years but I think that they have prudently utilized their funds
hole the current ratio of the company is not that good and it is gradually decreasing.
 Patni Computer
2005-06 2006-07 2007-08
Inventories 0 0 0
Sundry Debtors 416.62 538.63 489.5
Cash and Bank Balance 570.62 36.79 50.32
Total Current Assets 987.24 575.42 539.82
Loans and Advances 181.67 61.04 135.18
Fixed Deposits 0 0 0
Total CA, Loans & Advances 1,168.91 636.46 675
Deffered Credit 0 0 0
Current Liabilities 111.82 225.78 252.58
Provisions 205.76 131.82 157.49
Total CL & Provisions 317.58 357.6 410.07
Net Current Assets 851.33 278.86 264.93
Current Ratio 3.68 1.78 1.65

CURRENT RATIO

Patni Computer Systm

2005-06 2006-07 2007-08
Inventories 0 0 0
Sundry Debtors 416.62 538.63 489.5
Cash and Bank Balance 570.62 36.79 50.32
Total Current Assets 987.24 575.42 539.82
Loans and Advances 181.67 61.04 135.18
Fixed Deposits 0 0 0
Total CA, Loans & Advances 1,168.91 636.46 675
Deffered Credit 0 0 0
Current Liabilities 111.82 225.78 252.58
Provisions 205.76 131.82 157.49
Total CL & Provisions 317.58 357.6 410.07
Net Current Assets 851.33 278.86 264.93
Current Ratio 3.68 1.78 1.65

TATA CONSULTANCY SERVICES

2005-06 2006-07 2007-08

Interest Accrued on Investments 0.33 0.51 1
Inventories 80.64 12.06 17
Unbilled Revenues 480.05 523.88 870
Sundry Debtors 3,253.13 2,799.80 3,747
Cash and Bank Balances 432.38 557.14 528
Loans and Advances 928.25 1,313.39 2,167
Total Current Assets 5174.78 5206.78 7329.57

Liabilities 1,726.47 1,639.50 2,404

Provision 571.63 905.05 1,187
Total Current Liabilities 2298.1 2544.55 3,592

Current Ratio 2.25 2.05 2.04

Infosys Technologi
2005-06 2006-07 2007-08
Sundry Debtors 1,518.00 2,292.00 3,093.00
Cash and Bank Balance 544 680 657
Loans and Advances 1,308.00 1,241.00 2,804.00
Fixed Deposits 2,735.00 4,827.00 5,772.00
Total Current Assets 6,105.00 9,040.00 12,326.00
Current Liabilities 808 1,162.00 1,483.00
Provisions 1,409.00 662 2,248.00
Total CL & Provisions 2,217.00 1,824.00 3,731.00
Current Ratio 2.75 4.96 3.30

CURRENT RATIO
6

0
2005-06 2006-07 2007-08 20

here we have taken into account 3 software companies and their trend has been compared with respec
computers shown by red line and the remaining one Infosys shown by blue line. Current ration is a very
situation. It also give and idea about the ir opeartion parctises , their idea and plans for future. It is gen
one and should be as high as possible , meaniing that asset should always be greater than liability. But all th
nature. For sofware it should always be borne in mind that these companies does not have a huge infastruc
cash at bank etc. in case of patni computer we see that in 2005-2006 they hade huge cash deposit at bank I e 5
for expansion into newer areas. They have reduced it to 36 crores , even loans and advances to 61 crores
534 crores, apart from these as whole the current ration though has been comparatively healthy and consiste
that shows that it is a growing organization, but it has shown a good trend in this current ration, not too hi
very healthy trend, increase in sundry debtors is not that good. There had been a rise in bank balance 2009
increase in current liabilities and provisions. Still there has arising trend of cry ie also of order 4 and this is not
Computer Systmems
2008-09 2009-10
0 0
CURRENT RATIO
559.38 339.58
4
96.87 104
3.5
656.25 443.58 3
175.35 239.05 2.5
5 0.05 2
1.5
836.6 682.68
1
0 0 0.5
534.98 281.45 0
204.67 204.78 2005-06 2006-07 2007-08 2008-09 2009-

739.65 486.23
96.95 196.45
1.13 1.40

uter Systmems
2008-09 2009-10
0 0
CURRENT RATIO
559.38 339.58
4
96.87 104
3.5
656.25 443.58 3
175.35 239.05 2.5
5 0.05 2
1.5
836.6 682.68
1
0 0 0.5
0
2005-06 2006-07 2007-08 2008-09 2009-10
 2
1.5
1
0.5
534.98 281.45 0
204.67 204.78 2005-06 2006-07 2007-08 2008-09 2009-10

739.65 486.23
96.95 196.45
1.13 1.40

VICES

2008-09 2009-10
0.29 16.64
17 7 CURRENT RATIO
817 647 2.5
3,718 3,332
1,605 3,396 2
3,090 3,385
9247.14 10783.95 1.5

3,501 3,313 1
1,450 3,927
4951.36 7239.25 0.5

0
1.87 1.49 2005-06 2006-07 2007-08 2008-09 2009-10

Technologies
2008-09 2009-10
3,390.00 3,244.00 CURRENT RATIO
805 9,797.00
6
3,303.00 4,201.00
8,234.00 0 5
15,732.00 17,242.00
4

2
 6

4
1,544.00 1,995.00
1,798.00 2,035.00 3
3,342.00 4,030.00
2
4.71 4.28
1

0
2005-06 2006-07 2007-08 2008-09 2009-10

RRENT RATIO

TCS

Infosys

Patni

2007-08 2008-09 2009-10

een compared with respect to current ration. The three companies are TCS, shown by green line,Patni
ine. Current ration is a very important ration that give s and idea about the companys presnt solvency
nd plans for future. It is generelly accepted idea that this current ration should always be greater than
ater than liability. But all these matter are not true because every part of financial analysis is subjective in
s not have a huge infastructure or inventories. The asset values goes high with increase in sundry debtors,
e cash deposit at bank I e 570.62 crores, that they ave subsequently reduced that means they have utilized it
and advances to 61 crores from 181 in 2005-2006.in 2008 there was a sudden rise in current liabilities to
atively healthy and consistent .TCS has a huge amount cash reserve but every parameter has increasing trend
is current ration, not too high still a growth oriented organization. Infosys on the other hand shows not a
a rise in bank balance 2009 -`10 by a huge amount with no fixed deposit in that year. There has also been
o of order 4 and this is not good. Though software companies do not require huge infrastructural investment
008-09 2009-10

2009-10
2009-10

2009-10
2009-10
 HDFC

Current Asset, Loans & Advances (Rupees in crores)

Sundry Debtors
Cash and Bank balances
Loans and Advances
Total Current Assets
Current Liabilities & Provisions (Rupees in crores)
Liabilities
Provision
Total Current Liabilities
Net Current Assets
Current Ratio

PFC

(Unlesss otherwise specified, all financials are in Crores INR)

Current Asset, Loans & Advances
Cash & Bank Balances
Other Current Assets
Loans & Advances
Total Current Assets
Current Liabilities & Provisions
Liabilities
Provision
Total Current Liabilities
Net Current Assets
Current Ratio
 2005-06 2006-07 2007-08 2008-09 2009-10

366894.00 1375.25 1,483 1383.62 797.80

730,481.00 1,970.78 3,307 4,745 2,987
317,575.00 351.39 876 212 599
1414950.00 3697.42 5665.29 6341.16 4383.83

939,892.00 1,108.47 1,946 3,397 3,642

66,561.00 393.51 636 369 244
1006453 1501.98 2,582 3,766 3886.23
408497.00 2195.44 3083.24 2575.12 497.60
1.41 2.46 2.19 1.68 1.13

FY06A FY07A FY08A FY09A FY10A

364.84 507.67 674.5 392.23 1394.30

694.26 1106.11 1055.86 1340.57 1592.76
726.23 1006.47 1259.2 1935.75 1828.41
1785.33 2620.25 2989.56 3668.55 4815.47

584.96 1187.86 1195.39 1860.59 2124.52

872.2 924.05 1220.41 1715.57 1573
1457.16 2111.91 2415.8 3576.16 3697.52
328.17 508.34 573.76 92.39 1117.95
1.23 1.24 1.24 1.03 1.30