Documente Academic
Documente Profesional
Documente Cultură
ERODE
By
THANGESHWARN.S
(Reg.No.1261236)
Of
K.S.RANGASAMYCOLLEGEOFTECHNOLOGY
TIRUCHENGODE637215
(AnAutonomousInstitutionAffiliatedtoAnnaUniversity,Chennai)
APROJECTREPORT
Submittedtothe
FACULTYOFMANAGEMENTSSTUDIES
Inpartialfulfillmentoftherequirementsfortheawardofthedegree
Of
MASTEROFBUSINESSADMINISTRATION
July2013
BONAFIDECERTIFICATE
Mr.THANGESHWARN.S,(Reg.No.1261236)whocarriedouttheresearchundermysupervision.
Certifiedfurther,thattothebestofmyknowledgetheworkreportedhereindoesnotformpartof
anyotherprojectreportordissertationonthebasisofwhichadegreeorawardwasconferredonan
earlieroccasiononthisoranyothercandidate.
Director
Supervisor
HeadoftheInstitution
Submittedforthevivavoceexaminationheldon
InternalExaminer ExternalExaminer
K.S.RANGASAMYCOLLEGEOFTECHOLOGY(Autonoums),TIRUGHENGODE.
MBASummerProjectWork
(Batch20122014)
Titleoftheproject
AstudyonfinancialperformanceofPonniSugars(Erode)Ltd
atErode.
Nameofthestudent
S.Thangeshwaran
andemailaddress
Thangeshwaran91@gmail.com
Nameofthesupervisor(s)
Dr.M.VIJAYKUMARMBA.,M.Phil.,Ph.D.,Professor,Department
ofMBA,K.S.RangasamyCollegeofTechnology.
ABSTRACT
TheprojectentitledAstudyonfinancialperformanceofPonniSugars(Erode)LtdatErode
attemptedtoanalyzeanddescribeofthesugarindustry.Itisfoundfromthestudythatthecompany
waswithsteadyfinancialpositions.Fromtheanalysisitissuggestedthatthecompanycould
maintainanoptimumlevelofinventorytomakegoodfinancialposition.Thecompanyhastotake
appropriatestepstocontrolthecost,increasethevolumeofsales,profitinthefutureyears.
DECLARATION
IherebydeclarethattheprojectentitledASTUDYONFINANCIALPERFORMANCEOF
PONNISUGARS(ERODE)LTDATERODEinpartialfulfillmentoftherequirementforthe
awardofthedegreeofMASTEROFBUSINESSADMINISTRATIONisarecordoforiginal
projectworkdonebyme,duringmyperiodofstudyinK.S.RANGASAMYCOLLEGEOF
TECHNOLOGY20122014undertheguidanceofDr.M.VIJAYKUMARMBA.,M.Phil.,
Ph.D.,Professor,DepartmentofMBA,K.S.RangasamyCollegeofTechnologyandnopartofit
hasbeensubmittedforanyotherDegreeorDiploma.
Signature:
RegisterNo
:1261236
Nameofthecandidate :THANGESHWARAN.S
DATE :
PLACE :TIRUCHENGODE
ACKNOWLEDGEMENT
FirstandformostIdedicatethisprojectworktomyparents,whoareresponsiblefor
alltheoutstandingperformanceinmylife.
I wish to express my sincere gratitude to our Correspondent Lion
Dr.K.S.RANGASAMYM.J.F.,K.S.REducationalInstitutions,forprovidinganexcellent
environmentandinfrastructureatK.S.RANGASAMYCOLLEGEOFTECHNOLOGY.
IamdeeplyindebtedtoDr.K.THYAGARAJAHM.E.,Ph.D.,SMIEEE,MISTE,
PrincipalK.S.RCOLLEGEOFTECHNOLOGY,forgivingmepermissiontoundertake
thisproject.
IregardmysincereandheartfeltthankstoourdirectoroftheDepartment
Dr.A.LAKSHMIM.A.,M.Phil.,MBA.,B.Ed.,Ph.D.,Director,DepartmentofMBAwho
hasbeenthekeyspringofmotivationtousthroughoutthecompletionofourcourseand
projectwork.
I
amhighlyindebtedtoprovidemyheartfullthankstomyguide
I would like to thank my parents and friends for their valuable support and
contributiontothecompletionofmyproject.
CONTENTS
CHAPTERNO
PARTICULARS
ListofTables
Vii
Listofcharts
viii
INTRODUCTION
1.1 Introduction
1.2 Statementoftheproblem
1.3 Objectivesofthestudy
1.4 Scopeofthestudy
1.5 Limitationsofthestudy
1.6 Chapterizationofthestudy
CONCEPTSANDREVIEW
2.1 Conceptsofthestudy
2.2 Reviewoftherelatedliterature
2.3 Companyprofile
2.4 Productprofile
METHODOLOGY
3.1 ResearchDesign
3.2 DatacollectionDetails
10
3.3 Toolsofthestudy
11
DATAANALYSISANDINTERPRETATION
4.1 Analysisofthedata
LISTOFTABLES
PAGE.NO
19
RESULTSANDDISCUSSION
5.1 Findingsofthestudy
37
5.2 Suggestions
39
5.3 Conclusion
39
REFERENCES
40
TABLENO
PARTICULARS
PAGENO
4.1.1
Currentratios
20
4.1.2
Quickratiooracidtestratio
21
4.1.3
Grossprofitmargin
22
4.1.4
Operatingprofitmargin
23
4.1.5
Netprofitmargin
24
4.1.6
Returnonassets
25
4.1.7
Equityratio
26
4.1.8
Fixedassetsturnover
27
4.1.9
Inventoryturnover
28
4.1.10
Totalassetsturnover
29
4.1.11
Inventorytocurrentassets
30
4.1.12
Inventorytonetworkingcapital
31
4.1.13
Overheads
32
4.1.14
Directmaterials
33
4.1.15
Directlabour
34
4.1.16
Trendanalyses
35
LISTOFCHARTS
TABLENO
PARTICULARS
PAGENO
4.1.1
Currentratios
20
4.1.2
Quickratiooracidtestratio
21
4.1.3
Grossprofitmargin
22
4.1.4
Operatingprofitmargin
23
4.1.5
Netprofitmargin
24
4.1.6
Returnonassets
25
4.1.7
Equityratio
26
4.1.8
Fixedassetsturnover
27
4.1.9
Inventoryturnover
28
4.1.10
Totalassetsturnover
29
4.1.11
Inventorytocurrentassets
30
4.1.12
Inventorytonetworkingcapital
31
4.1.13
Overheads
32
4.1.14
Directmaterials
33
4.1.15
Directlabour
34
4.1.16
Trendanalyses
36
CHAPTER1
1.INTRODUCTION
1.1INTRODUCTION
ThewordPerformanceisderivedfromthewordparfourmen,whichmeanstodo,to
carry out or to render. It refers the act of per forming; execution, accomplishment,
fulfillment,etc.Inbordersense,performancereferstotheaccomplishmentofagiventask
measuredagainstpresetstandardsofaccuracy,completeness,cost,andspeed.Inotherwords,
itreferstothedegreetowhichanachievementisbeingorhasbeenaccomplished.Inthe
wordsofFrichKohlarTheperformanceisageneraltermappliedtoapartortoallthe
conductsofactivitiesofanorganizationoveraperiodoftimeoftenwithreferencetopastor
projectedcostefficiency,managementresponsibilityoraccountabilityorthelike.Thus,not
just the presentation, but the quality of results achieved refers to the performance.
Performanceisusedtoindicatefirmssuccess,conditions,andcompliance.
Financialperformancereferstotheactofperformingfinancialactivity.Inbroadersense,
financialperformancereferstothedegreetowhichfinancialobjectivesbeingorhasbeen
accomplished.Itistheprocessofmeasuringtheresultsofafirm'spoliciesandoperationsin
monetaryterms.Itisusedtomeasurefirm'soverallfinancialhealthoveragivenperiodof
timeandcanalsobeusedtocomparesimilarfirmsacrossthesameindustryortocompare
industriesorsectorsinaggregation.
Thefinancialperformanceanalysisidentifiesthefinancialstrengthsandweaknesses
ofthefirmbyproperlyestablishingrelationshipsbetweentheitemsofthebalancesheetand
profitandlossaccount.
1.2STATEMENTOFTHEPROBLEM
Financialperformancearepreparedtoreviewthestateofinvestmentinabusinessand
result achieved during specific period, financial performance analyses are also of great
importancetothefinanciallenders.Thefinancialperformancesareusefulandmeaningful
onlywhentheyareanalyzed.
Sugarindustriesareofthedevelopingindustriesinourcountryafterliberalization.
Thegovernmenthasopenednewopportunitiesforthecenturyoldsugarindustry.Thereisa
vasthomemarketandexportpotentialforsugarindustry.Theprocessofconsolidationand
rationalizationintheindustrywillcontinue.Thiswillleadtogreaterchallengesinmatching
therightcompaniesandtheirproductmakingfacilitiestotherightmarket.Onaccountof
thesefacts,itisofconsiderableinteresttostudythesugarindustry.
1.3 OBJECIVESOFTHESTUDY
ToanalyzethefinancialpositionofPonniSugars.
ToanalyzedifferentcostsrelatedtoFinancialperformances.
ToforecastthefuturesalesofPonniSugars.
1.4 SCOPEOFTHESTUDY
Thebasisforfinancialplanningandanalysisisfinancialinformation,financialneed
to predict compare and evaluate the forms earning ability. It is also required to aid in
economicsdecisionmaking,investmentandFinancialperformancesoraccountingreports.
Theyshouldbepreparedverycarefullyandcontainasmuchinformationaspossiblebecause
theyareusefultojudgethefinancialefficiencyofthecompany.Thedataaboutthesugar
sector,thegovernmentpolicieswithrespecttothesector,andtheinformationaboutthe
companiesareallgatheredfromsecondarysources,availableonthewebsites,annualreports,
databankofthefirmandsoftwareusedbythefirm.
1.5 LIMITATIONSOFTHESTUDY
ThoughtherearemanySugarsMillsinTamilNaduonlyonemillhasbeentakenup
forthisstudy.
The financial performance of the company is analyzed by using five years data
alone.Ratiosofthepastarenottrueindicatorsoffuture.
Financial analysis is based on monetary information and the non monetary
informationignored.
Anychangeinthemethodsorproceduresofaccountingsystemlimitstheutility
offinancialperformances.
Itdoesnotconsiderthepricelevelchange.
Despitethis,asincereattemptismade.
1.6 CHAPERIZATIONOFTHESTUDY
Chapter1
Introduction of the project work includes introduction, statement of the problem,
objectivesofthestudy,scopeofthestudy,limitationsofthestudyandChapterizationofthe
study.
Chapter2
Itdealswiththeconceptsandreviewusedinthisprojectwork.Itincludesconceptsof
thestudy,reviewofrelatedliterature,companyprofileandproductprofile.
Chapter3
Itdealswithresearchmethodologyfollowedinthisprojectwork.Itincludesresearch
design,datacollectiondetailsandtoolsusedforthestudy.
Chapter4
Itdealswithofdataanalysisandinterpretation.
Chapter5
Itdealswithresults,findings,
suggestions,andconclusionofthestudy.
CHAPTER2
CONCEPTSANDREVIEW
2.1CONCEPTSOFTHESTUDY
FINANCIALPERFORMANCE
Financeisthelifebloodofabusiness.Financeisoneofthebasicfoundationsofall
kinds of economic activities. Like any other functional management in a firm (such as
production,making,salesetc.,)financeisavitalfunctionalorganizationofthefirm.Ifthe
financefunctiondoesnotoperatewill,thewholeorganizationalactivitywillbecollapsed.
Thesubjectmatteroffinancialmanagementhasbeendefinedinmanywaysdependingupon
thestudyofthesubject.
Thelevelofperformanceofabusinessoveraspecifiedperiodoftime,expressedinterms
of overall profits and losses during that time. Evaluating the financial performance of a
businessallowsdecisionmakerstojudgetheresultsofbusinessstrategiesandactivitiesin
objectivemonetaryterms.
Financialperformanceispreparedprimarilyfordecisionmaking.Itplaysadominantrole
insettingtheframeworkofmanagerialdecisions.ButtheinformationprovidedinFinancial
performanceisnotanendinitselfasnomeaningfulconclusionscanbedrawnfromthese
statementsalone.
2.2 REVIEWOFRELATEDLITERATURE
G.Malyadri,andB.SudheerKumar(2013)found15atIndiansugarindustryis
highlystragmentedwithorganizeandunorganizedplayers.Theunorganizedplayersmainly
produce gur and khandsari, the fess refined forms sugar. The sector has a number of
transformational opportunities. These opportunities have remained largely untapped. The
industryhasthepotentialtocatertothelargeandgrowingdomesticsugarconsumptionand
emergeasasignificantcarboncreditandpowerproducer.Further,theindustrycanimprove
its costcompetitiveness throughhigher farmproductivity andbymanagingthe domestic
productionvariationthroughinternationaltradewithafocusoncountriesintheIndianocean.
Thus,transformedsectorwouldbefesscyclicalwithgreateralignmentbetweensugarcane
andsugarprices,andwillhavestablediversifiedsourcesofrevenue.Thisstudywehaveused
analysisofIndianSugarIndustryfromRatiosPortOfView,ProfitabilityRatio,Turnover
Ratio.
Pany (1991) has sought to identify factors which influence corporate economic
performance. Important industrial characteristics which have been used by industrial
organization researchers as the determinants of financial performance are concentration,
market share, industry growth, research and development expenditure, advertisement
intensity,andsizeoffirmsintheindustry.Thesecharacteristicsmayallowfirmstobeina
better position to implement their strategies successfully and profitability. Consequently,
firmsmayreflectbetterperformanceonaccountoffavorableindustrialcharacteristics.
fullcapacityutilization,whichenablesthefactoriestopayhighcaneprices.
2.3COMPANYPROFILE
PonniSugars(Erode)LtdisanoffspringofPonniSugarsandChemicalsLtd(PSCL)
underaDemergerSchemesanctionedbytheHighCourtofMadrason10thSeptember2001.
IntermsoftheScheme,thecompanytookoverthebusinessofErodeUndertakingwith
concurrenttransferofmajorpartofstakeholdersinterestinPSCLtothecompany.
TheErodesugarmillwassetupwith1250TCDcapacityin1984inarecordtimeof12
months. It achieved full capacity crushing during the very first year of its commercial
operationthatenableddeclarationofamaidendividendof10%inthatveryfirstyear,a
recordintheannalsofsugarindustry.Itwasatrendsetterinmobilizingsurpluscaneduring
itsinfancystagefromneighboringsugarmillsandextendingcrushingseasontowellabove
industryaverage.Itscapacitywasexpandedto2500TCDIn1994.
TheErodesugarmillhassuccessfullyimplementedaninnovativeLiftIrrigationScheme
by bringing in dry lands under cane cultivation, utilizing the effluent discharge of the
neighbouring paper mill. This has helped secure multitudinal benefits providing a
dependableandperennialsourceofirrigationtofarmersintheneighbourhood,increaseof
land value manifold in the region, transforming the livelihood of local rural population,
resolvingtherawmaterialneedsofsugarandpapermillsandaddressingecologicalconersin
effluentdischarge.
Right from its inception, Ponni was structured on the concept of total diversion of
bagasseforpaper.Accordinglyitinstalledacoalfiredboilerandlateraddedamultifuel
boilerinplaceofconventionalbagassefiredboilers.Ithasabagassetieuparrangementwith
Seshasayee Paper and Boards Ltd for a mutually beneficial and rewarding long term
relationship.
Ponni is an efficient and quality producer of sugar, catering to both domestic and
international markets. It is a venerable partner for villagers growing sugarcane in its
neighbourhood. It enjoys cordial relationship with employees. It firmly believes in
transparent and fair dealings with all its stakeholders by following sound corporate
governancenormsbothinletterandspirit.
ACOMPANYWITHADIFFERENCE
Innovativestructuringasbackwardintegrationtopaper.
Firsttocommitbagasseforpaperandderivevalueaddition.
Pioneeredlongsugarseason.
Implementedauniqueeffluentirrigationschemeconvertingwastetowealth.
ISO9001:2008certifiedforQualityManagementsystem.
ISO14001:2004certifiedforEnvironmentalManagementsystem.
VISION
Toexcelastrustedsociallyresponsibleandcustomerdrivenorganizationproviding
maximumvaluetoallstakeholders.
MISSION
Tomanufacturequalityproductsatcompetitivecostthroughtechnologyandteam
work.
VALUES
Ethicalpractices
CustomerFocus
Commitment and transparent management
EmpowermentandAccountability
AdaptabilitytoChange
InnovationandCreativity
Emphasisonhumanresourcesdevelopment,costreduction,productivityenhancement
andresourceconservation.
FACTORYFACTSHEET
YearofEstablishment
1984
InitialCapacity(TCD)
1250
PresentCapacity(TCD)
3500
FactoryArea(acres)
33.51
ColonyArea(acres)
9.10
NoofEmployees
Regular232
Seasonal95
327
No.ofEmployeeQuarters
145
No.ofCultivators
7475
AnnualCaneAreaunder
21300
Registration(acres)
2.4PRODUCTPROFILE
PonniSugars(Erode)LimitedisanIndiabasedcompany.TheCompanyisengaged
inthemanufactureofsugaranditsbyproducts.TheCompanysproductsincludesugar,
bagasse and molasses. During the fiscal year ended March 31, 20012 (fiscal 2012), the
Companycrushed745,644tonsofcaneandproduced76464tonsofsugar.TheCompanys
plantislocatedinNamakkalDistrict,TamilNadu.
CHAPTER3
RESEARCHMETHODOLOGY
3.1INRODUCTION
Researchisoftendescribedasanactive,diligentandsystematicprocessofinquiry
aimedatdiscovering,interpretingandrevisingfacts.Thisintellectualinvestigationproduces
a greater understanding ofevents,behaviors or theories and makes practical applications
through laws and theories. The term research is also used to describe a collection of
informationaboutaparticularsubject,andisusuallyassociatedwithscienceandscientific
method.
BASICRESEARCH
Basicresearchisalsocalledasfundamentalorpureresearch.Itsprimaryobjectiveis
theadvancementofknowledgeandthetheoreticalunderstandingoftherelationsamongthe
variables. It is exploratory and often driven by researcher s curiosity or interest. It is
conductedwithoutanypracticalendinmind.Basicresearchoftenlaysdownthefoundation
forfurtherappliedresearch.
APPLIEDRESEARCH
Appliedresearchisdonetosolvespecific,practicalquestions.Itsprimaryobjectiveis
nottogainknowledgeforitsownsake.Itisusuallydescriptiveinnature.Itisalmostalways
doneonthebasisofbasicresearch.
3.2RESEARCHDESIGN
Researchdesignisthearrangementofconditionsforcollectionandanalysisofdatain
amannerthataimstocombinerelevancetoresearchpurposewitheconomyinprocedure.
Descriptiveresearch
Descriptiveresearchincludessurveysandfactfindingenquiriesofdifferentkinds.The
major purpose of descriptive research is descriptive of the state of affairs as it exists at
present.Insocialscienceandbusinessresearchwequiteoftenusetheterm.Examplepost
factoresearchfordescriptiveresearchstudies.Themaincharacteristicofthismethodisthat
theresearcherhasnocontroloverthevariables;hecanonlyreportwhathashappenedor
whatishappening.
3.3DATACOLLECTIONDETAILS
SECONDARYDATA
Secondarydatameansdatathatalreadyavailablei.e.,theyrefertothedatawhich
havealreadybeencollectedandanalyzedbysomeoneelse.Whentheresearcherutilizes
secondarydata,thenhehaslookintovarioussourcesfromwherehecanobtainthem.Inthis
caseheiscertainlynotconfrontedwiththeproblemsthatareusuallyassociatedwiththe
collectionoforiginaldata.Secondarydatamayeitherbepublisheddataorunpublisheddata.
Inthisstudy,thesecondarydatahasbeenprovidedwhereverrequired;thesecondary
datahasbeencollectedfromvarious sourceslikeBooks,Journals,Newspapers,Abstract
industriesreportandinternet.Thefollowingarethesourcesofinformationandmethodology
usedinthisstudy.
1. Acquiringmaterialfromthevariousreportsmadeavailablebythecompanyspecifically
relatedtothesugarsector.
2. Acquiringmaterialfromtheinternet
3. Reviewingrelevantbooksandbusinessjournals
3.4 TOOLSUSEDFORDATAANALYSIS
Ratioanalysis.
Inventoryratio.
Overheads.
Forecastingthesales.
RATIOANALYSIS
Itisconcernedwiththecalculationofrelationships,whichafterproperidentification
& interpretation may provide information about the operations and state of affairs of a
businessenterprise.Theanalysisisusedtoprovideindicatorsofpastperformanceintermsof
criticalsuccessfactorsofabusiness.Thisassistanceindecisionmakingreducesrelianceon
guessworkandintuitionandestablishesabasisforsoundjudgments.
LIQUIDITYMEASUREMENTRATIOS
Liquiditymeanstheabilityofaconcerntomeetitscurrentobligationsasandwhen
thesebecomedue.Thustheliquidityratiosindicatetheabilityofaconcerntomeetitsshort
termobligations.
CURRENTRATIOS
Current ratio is defined as the relationship between current assets and current
liabilities.Thusthetwobasiccomponentsofcurrentratioare:currentassetsandcurrent
liabilities.Currentassetsconsistofdebtors,billsreceivable,inventory,cashinhand,cash
inhand,atbank,prepaidexpensesandshortterminvestments.
Currentratio=Currentassets/Currentliabilities
Highertheratio,thebetteritis,howeverbuttoohighratioreflectsaninefficientuse
ofresources&toolowratioleadstoinsolvency.Theidealratioisconsideredtobe2:1
QUICKRATIOORACIDTESTRATIO
Quick ratio is a more rigorous test of liquidity than the current ratio. It can be
ascertainedbycomparingtheliquidassetstocurrentliabilities.Liquidassetsconsistinhand
andabank,debtorslessprovisionforbadanddoubtfuldebts,realizableinvestmentandother
currentassetswhichcanberealizedimmediately.
Quickratio=liquidassets/currentliabilities
Theidealratiois1:1.Anotherbeneficialuseistocomparethequickratiowiththe
current ratio. If the current ratio is significantly higher, it is a clear indication that the
company'scurrentassetsaredependentoninventory.
PROFITABILITYINDICATORSRATIOS
Profitabilityis the abilityofa business to earnprofit overaperiod oftime.The
profitabilityratiosshowthecombinedeffectsofliquidity,assetmanagement(activity)and
debtmanagement(gearing)onoperatingresults.Theoverallmeasureofsuccessofabusiness
istheprofitabilitywhichresultsfromtheeffectiveuseofitsresources.
GROSSPROFITMARGIN
Acompany'scostofgoodssoldrepresentstheexpenserelatedtolabor,rawmaterials
andmanufacturingoverheadinvolvedinitsproductionprocess.Thisexpenseisdeducted
fromthecompany'snetsales/revenue,whichresultsinacompany'sgrossprofit.Thegross
profitmarginisusedtoanalyzehowefficientlyacompanyisusingitsrawmaterials,labor
andmanufacturingrelatedfixedassetstogenerateprofits.
GrossProfitMargin=(GrossProfit/NetSales)*100
Highertheratio,thehigheristheprofitearnedonsales.
OPERATINGPROFITMARGIN
Bysubtractingselling,generalandadministrativeexpensesfromacompany'sgross
profitnumber,wegetoperatingincome.Managementhasmuchmorecontroloveroperating
expensesthanitscostofsalesoutlays.ItMeasurestherelativeimpactofoperatingexpenses.
OperatingProfitMargin=(OperatingProfit/NetSales)*100
Lowertheratio,lowertheexpenserelatedtothesales.
NETPROFITMARGIN
Netprofitratioestablishestherelationshipbetweennetprofitandsales.Iindicatethe
efficiencyofthemanagementinmanufacturing,selling,administrationandotheractivitiesof
theconcern.
NetProfitMargin=(OperatingProfit/NetSales)*100
Highertheratio,themoreprofitablearethesales.
RETURNONASSETS
Thisratioillustrateshowwellmanagementisemployingthecompany'stotalassetsto
makeaprofit.
ReturnonAssets=NetIncome/AverageTotalAssets
Higherthereturn,themoreefficientmanagementisinutilizingitsassetbase.
FINANCIALLEVERAGE/GEARINGRATIOS
Theseratiosindicatethedegreetowhichtheactivitiesofafirmaresupportedby
creditorsfundsasopposedtoownersastherelationshipofownersequitytoborrowedfunds
isanimportantindicatoroffinancialstrength.Thedebtrequiresfixedinterestpaymentsand
repaymentoftheloanandlegalactioncanbetakenifanyamountsduearenotpaidatthe
appointedtime.Arelativelyhighproportionoffundscontributedbytheownersindicatea
cushion(surplus)whichshieldscreditorsagainstpossiblelossesfromdefaultinpayment.
EQUITYRATIO
Thisratiomeasuresthestrengthofthefinancialstructureofthecompany.
EquityRatio=(OrdinaryShareholdersInterest/Totalassets)*100
Ahighequityratioreflectsastrongfinancialstructureofthecompany.Arelatively
lowequityratioreflectsamorespeculativesituationbecauseoftheeffectofhighleverage
andthegreaterpossibilityoffinancialdifficultyarisingfromexcessivedebtburden.
OPERATINGPERFORMANCERATIOS
Theseratioslookathowwellacompanyturnsitsassetsintorevenueaswellashow
efficiently a company converts its sales into cash, i.e. how efficiently & effectively a
companyisusingitsresourcestogeneratesalesandincreaseshareholdervalue.Thebetter
theseratios,thebetteritisforshareholders.
FIXEDASSETSTURNOVER
Thisratioisaroughmeasureoftheproductivityofacompany'sfixedassetswith
respecttogeneratingsales.
FixedAssetsTurnover=Sales/NetFixedAssets
Highfixedassetsturnoversarepreferredsincetheyindicateabetterefficiencyin
fixedassetsutilization.
TOTALASSETSTURNOVER
Thisratioindicatestheefficiencywithwhichthefirmusesallitsassetstogenerate
sales.
TotalAssetsTurnover=Sales/TotalAssets
Higherthefirmstotalassetturnover,themoreefficientlyitsassetshavebeenutilized.
COSTSHEET
CostSheetsarestatementssettingoutthecostsofaproductgivingdetailsof
allthecosts.Presentationofcostinginformationdependsuponthemethodofcosting.
Acostsheetcanbepreparedweekly,monthly,quarterlyorannually.
Inacostsheetbesidestotalexpenditureincurred,costperunitofoutputin
caseofeachelementofcostcanbeshowninaseparatecolumn.Thecostsheetshould
givecostperunitinthepreviousperiodforthepurposesofcomparison.
INVENTORYTURNOVER
Itmeasuresthestockinrelationtoturnoverinordertodeterminehowoftenthestock
turnsoverinthebusiness.Itindicatestheefficiencyofthefirminsellingitsproduct.
InventoryTurnover=Sales/AverageInventory
Highratioindicatesthatthereisalittlechanceofthefirmholdingdamagedorobsoletestock.
INVENTORYTOCURRENTASSETS
Itistherelationshipbetweenclosinginventoryandcurrentassets.
InventorytoCurrentAssets=ClosingInventory/CurrentAssets
This ratioinventoryindicatestheamountofinvestmentininventoryperrupeeof
currentassetinventory.Thehighertheproportionofinventorytocurrentassetthelowerthe
liquidityascomparedtoothercurrentasset.
INVENTORYTONETWORKINGCAPITAL
Itistherelationshipbetweeninventoryandnetworkingcapital.
InventorytoNetWorkingCapital=Closinginventory/NetWorkingCapital
Thisratioshowstheamountofinventoryperrupeeofequityandlongtermfinancial
positionofcurrentasset.Ahighratiomeansgreatsamountofnetworkingcapitalinvestment
ininventoryandalowratiomeansaloweramountofnetworkingcapitalinvestmentin
inventory.
OVERHEADS
Overheadistheaggregateofindirectmaterialcost,indirectwagers(indirectlabor
cost)andindirectexpenses.
OverHeads=TotalOverheads/Netsales*100
DIRECTMATERIALS
Referstothecostofmaterialswhichbecomeamajorpartofthefinishedproduct.
Suchmaterialscanbeidentifiedintheproduct,measuredandchargeabletotheproduct.For
example,Plywood,woodenbattens,fabricfortheseatandtheback,nails,screws,glue.
OverheadRate=productionOverheadExpenses(Budgeted)/anticipatedDirect
MaterialCost*100
DIRECTLABOUR
Itisthecostoflabour,whichisdirectlyengagedintheproductiveoperations.Inother
wordstheworkerwhoworksdirectlywithrawmaterialsinconvertingthemintofinished
goodsrepresentsdirectlabour.Forexample,Sawyers,drillers,assemblers,painters,polishers,
upholsterers.
OverheadRate=productionOverheadExpenses/DirectLabourCost*100
TRENDANALYSIS
Thisisbestmethodforobtainingthetrendvalues.Itprovidesaconvenientbasisfor
obtainingthelineofbestfitinaseries.Lineofthebestfitisalinefromwhichthesumofthe
deviationsofvariouspointsoneithersideiszero.Thestraightlinetrendhasanequationof
thetypes:Y=a+bx,whereYrepresentstheestimatedvaluesofthetrend,Xrepresentsthe
deviationsinthetimeperiod:aandbareestimatedbysolvingthefollowingtwonormal
equations.
Y=Na+aX
XY=aX+bX2
WhereNrepresentsnumberofyearsforwhichdataisgiven.ThevariablesXcanbe
measuredfromanypointoftimeasoriginbecausethenegativevaluesoffirsthalfofthe
times series will equalize the positive values in the second half of the series which
symbolicallygivesx=0.Whenx0,thetwonormalequationsforfindingtheconstantsa
andbwillbe
Y=Na=a=Y/N=Y
XY=bx2=b=XY/X2
CHAPTER4
DATAANALYSISANDINTERPRETATION
4.1ANALYSISOFTHEDATA
Analysisofthedatameansstudyingthetabulatedmaterialinordertodetermineifhe
rentfactsormeaning.Itinvolvesbreakingdownexistingcomplexfactorsintosimplerparts
andputtingtheparttogetherinnewarrangementforpurposeofinterpretation.Aplanof
analysiscanandshouldbepreparedinadvancebeforetheactualcollectionmaterials.A
preliminaryanalysisontheskeletonplanshould,astheinvestigationproceeds,developinto
acomplete,finalanalysisenlargeandreworkedasandwhennecessary.Theprocessrequires
flexible and open mind. No similarities, differences, trends and outstanding should go
unnoticed, large division of materials should be broken down in to smaller unit and
rearrangedinnewcombinationstodiscovernewfactorsandrelationship.Datashouldstudied
fromasmanyanglesaspossibletofindoutandnewsfacts.
Whentheplanofanalysishasnotbeenmadebeforehand,therearefourhelpful
modestostartwiththeanalysisofdata:
Tothinktermofsignificanttablesthatthedatapermit.
Toexaminecarefullythestatementoftheproblemandtheearlieranalysisandto
studytheoriginalrecordsofthedata.
TABLE4.1.1
LIQUIDITYMEASUREMENTRATIOS
CURRENTRATIOS
Year
Currentassents
Currentliabilites
Ratio
2013
108.6
53.3
2.037523
2012
79.1
68.41
1.156264
2011
93.65
49.2
1.903455
2010
124.34
65.72
1.891966
2009
66.59
41.36
1.61001
INFERENCE:
Theabovetablerevealsthatthehighestcurrentratiowasrecorded(2.037523)inthe
year2013.Thelowestcurrentratio(1.156264)recordedintheyear2012.Thecurrentratio
wasfluctuatingduringtheperiod2009to2013.
CHART4.1.1
Currentratios
2.5
2
1.5
1
0.5
0
Current
ratios
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
TABLE4.1.2
QUICKRATIOORACIDTESTRATIO
Year
2013
Liquidassets
90.3
Currentliabilities
53.3
Ratio
0.652345
2012
66.56
68.41
0.470107
2011
88.41
49.2
0.550203
2010
109.02
65.72
0.527237
2009
62.48
41.36
0.378868
INFERENCE:
Theabovetableindicatesthatthehighestquickratiowasrecorded(0.652345)inthe
year 2013. The lowest quick ratio (0.378868) recorded in the year 2012. The ratio was
fluctuatingtrendduringthestudyisfrom2009to2013.
CHART4.1.2
0.3
Ratio
0.2
0.1
0
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
TABLE4.1.3
PROFITABILITYINDICATORSRATIOS
GROSSPROFITMARGIN
Year
Grossprofit
Netsales
Ratio
2013
26.87
212.48
12.6459
2012
31.69
268.99
11.78111
2011
15.18
270.69
5.607891
2010
73.27
245.72
29.81849
2009
22.87
138.62
16.49834
INFERENCE:
Theabovetableshowsthatthehighestgrossprofitratiowas(29.81849)intheyear
2010.Thelowestgrossprofitratio(5.607891)recordedintheyear2011.Thetrendis
fluctuatingtrend.Theperiodsare2009to2013.
CHART4.1.3
GrossProfitMargin
30
25
20
15
10
5
10
Gross Profit
Margin
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
TABLE4.1.4
OPERATINGPROFITMARGIN
Year
Operatingprofit
Netsales
Ratio
2013
17.67
209.45
8.316077
2012
29.43
159.82
10.94093
2011
15.01
112.7
5.545088
2010
71.31
113.94
29.02084
2009
20.61
80.38
14.86798
INFERENCE:
Theabovetableshowsthatthehighestoperatingprofitratiowas(29.02084)inthe
year2010.Thelowestoperatingprofitratio(5.545088)recordedintheyear2011.Thetrend
isfluctuatingtrend.Theperiodsare2009to2013.
CHART4.1.4
OperatingProfitMargin
30
25
20
15
10
5
0
Mar ' Mar ' Mar ' Mar ' Mar '
13
12
11
10
09
TABLE4.1.5
NETPROFITMARGIN
Year
Netsales
Sales
Ratio
2013
14.09
212.48
6.631212
2012
28.24
268.99
10.49853
2011
13.53
270.69
4.998338
2010
69.52
245.72
1.251711
2009
18.72
138.62
0.512814
INFERENCE:
Theabovetableindicatesthatthehighestnetprofitratiowas(10.49853)intheyear
2012.Thelowestnetprofitratio(0.512814)recordedintheyear2009.Theratiotrendis
decreasingtrend.Theperiodsare2009to2013.
CHART4.1.5
NetProfitMargin
12
10
8
6
4
2
0
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
TABLE4.1.6
RETURNONASSETS
Year
NetIncome
2013
17.67
2012
AverageTotal
Assets
Ratio
104.725
0.168728
29.43
79.91
0.368289
2011
15.01
56.35
0.266371
2010
71.31
56.97
1.251711
2009
20.61
40.19
0.512814
INFERENCE:
Theabovetableshowsthatthehighestreturnontoassetratiowas(1.251711)inthe
year2010.Thelowestreturnonassetratio(0.168728)intheyear2013.Theratiotrendis
fluctuatingtrend.Theperiodsare2009to2013.
CHART4.1.6
ReturnonAssets
1.4
1.2
1
0.8
0.6
0.4
0.2
0
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
Return on
Assets
TABLE4.1.7
FINANCIALLEVERAGE/GEARINGRATIOS
EQUITYRATIO
Year
Totalassets
Ratio
2013
OrdinaryShareholders
Interest
3.58
209.45
1.709238
2012
1.19
159.82
0.744588
2011
1.48
112.7
1.313221
2010
1.79
113.94
1.571002
2009
1.89
80.38
2.351331
INFERENCE:
Theabovetablerevealsthatthehighestequityratiowas(2.351331)intheyear2009.
Thelowestequityratiowas(0.744588)intheyear2012.Theratiowasfluctuatingtrend
duringthestudyperiod2009to2013.
CHART4.1.7
EquityRatio
2.5
2
1.5
1
0.5
0
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
Equity
Ratio
TABLE4.1.8
OPERATINGPERFORMANCERATIOS
FIXEDASSETSTURNOVER
Year
Sales
NetFixedAssets
Ratio
2013
212.48
133.09
1.596514
2012
268.99
44.17
6.08988
2011
270.69
45.21
5.987392
2010
245.72
47.03
5.22475
2009
138.62
47.71
2.905471
INFERENCE:
Theabovetablerevealsthatthehighestfixedassetsturnoverratiowas(6.08988)in
theyear2012.Thelowestfixedassetsturnoverratio(1.596514)intheyear2013.Theratio
trendisfluctuatingtrend.Theperiodsare2009to2013.
CHART4.1.8
FixedAssetsTurnover
7
6
5
4
3
2
1
Fixed Assets
Turnover
0
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
TABLE4.1.9
TOTALASSETSTURNOVER
Year
Sales
TotalAssets
Ratio
2013
212.48
209.45
1.014466
2012
268.99
159.82
1.683081
2011
270.69
112.7
2.401863
2010
245.72
113.94
2.156574
2009
138.62
80.38
1.724558
INFERENCE:
Theabovetablerevealsthatthehighesttotalassetsturnoverratiowas(2.401863)in
theyear2011.Thelowesttotalassetsturnoverratiowas(1.014466)intheyear2013.The
ratiotrendisfluctuatingtrendfrom2009to2013.
CHART4.1.9
TotalAssetsTurnover
3
2.5
2
1.5
1
0.5
0
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
TABLE4.1.10
INVENTORYTURNOVER
Year
Sales
AverageInventory
Ratio
2013
212.48
36.915
5.755926
2012
268.99
23.47
11.46101
2011
270.69
33.29
8.131271
2010
245.72
44.845
5.479318
2009
138.62
25.46
5.444619
INFERENCE:
TheabovetablerevealsthatthehighestInventoryturnoverratiowas(11.46101)in
theyear2012.ThelowestInventoryassetsturnoverratiowas(5.444619)intheyear2009.
Theratiotrendisfluctuatingtrendfrom2009to2013.
CHART4.1.10
InventoryTurnover
14
12
10
8
6
4
2
0
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
Inventory
Turnover
TABLE4.1.11
INVENTORYTOCURRENTASSETS
Year
Closinginventory
Currentasset
Ratio
2013
51
108.6
0.4696132
2012
47
79.1
0.5941845
2011
113
93.65
1.2066203
2010
125.73
124.34
1.0111790
2009
82.76
66.59
1.2428292
INFERENCE:
The above table reveals that the highest Inventory to current assets ratio was
(1.2428292)intheyear2009.ThelowestInventorytocurrentassetsratiowas(0.4696132)in
theyear2013.Theratiotrendisfluctuatingtrendfrom2009to2013.
CHART4.1.11
InventorytoCurrentAssets
1.4
1.2
1
0.8
current
0.4
0.6
Inventory to
assets
0.2
10
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
TABLE4.1.12
INVENTORYTONETWORKINGCAPITAL
Year
Closinginventory
Networkingcaptial
Ratio
2013
51
129.14
0.3949202
2012
47
111.54
0.4213734
2011
113
96.25
1.1740259
2010
125.73
79.64
1.5787292
2009
82.76
46.79
1.7687540
INFERENCE:
TheabovetablerevealsthatthehighestInventorytonetworkingcapitalratiowas
(1.7687540) in the year 2009. The lowest Inventory to net working capital ratio was
(0.3949202)intheyear2013.Theratiotrendisfluctuatingtrendfrom2009to2013.
CHART4.1.12
InventorytoNetWorkingCapital
1.8
1.6
1.4
1.2
1
Inventory to net
working
capital
0.8
0.6
0.4
0.2
0
Mar '
13
Mar '
10
Mar '
09
TABLE4.1.13
OVERHEADS
Year
Totaloverheads
Netsales
Ratio
2013
2115
21911
0.0965268
2012
2230
27557
0.0809231
2011
2086
28095
0.0742480
2010
1469.72
11951.7
0.1229716
2009
1160.69
14127.87
0.0821560
INFERENCE:
Theabovetablerevealsthatthehighestoverheadsratiowas(0.1229716)intheyear
2010.The lowestoverheads ratiowas (0.0742480)inthe year2011.Theratio trend is
fluctuatingtrendfrom2009to2013.
CHART4.1.13
OverHeads
0.14
0.12
0.1
0.08
0.06
0.04
0.02
0
Mar ' 13 M ar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
30.6680472
TABLE4.1.14
DIRECTMATERIALS
Year
Anticipateddirect
materialcost
Ratio
2013
Production
overheadexpenses
(budgeted)
16994
7109
2.3904909
2012
21857
4325
5.0536416
2011
24657.11
6338
3.8903613
2010
14407.15
8670.11
1.6617032
2009
12947.9
4805.17
2.6945768
INFERENCE:
Theabovetablerevealsthatthehighestdirectmaterialsratiowas(5.0536416)inthe
year2012.Thelowestdirectmaterialsratiowas(1.6617032)intheyear2010.Theratio
trendisfluctuatingtrendfrom2009to2013.
CHART4.1.14
DirectLabour
6
5
4
3
2
1
0
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
dire ct
labour
TABLE4.1.15
DIRECTLABOUR
Year
Directlabourcost
Ratio
2013
Production
overheadexpenses
16994
989
17.1830131
2012
21857
893
24.4759238
2011
24657.11
804
30.6680472
2010
14407.15
919.87
15.6621587
2009
12947.9
883.33
14.6580553
INFERENCE:
Theabovetablerevealsthatthehighestdirectlabourratiowas(30.6680472)inthe
year2011.Thelowestdirectlabourratiowas(14.6580553)intheyear2009.Theratiotrend
isfluctuatingtrendfrom2009to2013.
CHART4.1.15
DirectLabour
35
30
25
20
15
10
5
0
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
dire ct
labour
TABLE4.1.16
TRENDANALYSES
Year
Sale
x2
xy
2009
138.62
-2
-277.24
2010
245.72
-1
-245.72
2011
270.69
268.99
268.99
212.48
424.96
2012
2013
Y=1136.
5
x2=10 xY=170.99
Total
1136.5/5
=227.3
170.99/10
=17.099
TREND VALUES
Year
Trend values
2014
-2
329.894
2015
-1
346.93
2016
365.092
2017
381.1991
2018
400.29
INFERENCE:
Thetrendanalysisisshowsthatthereisaincreaseinthesalesinyear2018.This
showsthereisagoodsalespositioninthecompany.
CHART4.1.16
450
400
350
300
250
TREN D
VALUES
200
150
100
50
0
2014
2015
2016
2017
2018
CHAPTER5
RESULTSANDDISCUSSION
5.1 FINDINDSOFTHESTUDY
TheCurrentassetsratioofthecompanyishighestin(2.03752)intheyear2013.
TheQuickratioofthecompanyishighestin(0.652345)intheyear2013.
TheGrossprofitratioofthecompanyishighestin(29.81849)intheyear2010.
TheOperatingprofitmarginofthecompanyishighestin(29.02084)intheyear2010.
TheNetprofitmarginofthecompanyishighestin(10.49853)intheyear2012.
TheReturnonassetsratioofthecompanyishighestin(1.251711)intheyear2010.
TheEquityratioofthecompanyishighestin(2.351331)intheyear2009.
TheFixedassetsturnoverofthecompanyishighestin(6.08988)intheyear2012.
TheTotalassetsturnoverofthecompanyishighestin(2.401863)intheyear2011.
TheInventoryturnoverofthecompanyishighestin(11.46101)intheyear2012.
TheInventorytocurrentassetsofthecompanyishighestin(1.2428292)intheyear
2009.
TheInventorytonetworkingcapitalofthecompanyishighestin(1.7687540)inthe
year2009.
TheOverheadsofthecompanyishighestin(0.1229716)intheyear2010.
TheDirectmaterialsofthecompanyishighestin(5.0536416)intheyear2009.
TheDirectlabourofthecompanyishighestin(30.6680472)intheyear2011.
Thecompanywillattainthemaximumsales(400.29)intheyear2018.
5.2SUGGESTIONS
Thecompanymaydecreaseitsinventoryturnoveronbasisoforderforsales
andmarketpotential.Thecompanymayreducethevariableexpensesrawmaterial
consumed,powerandfuel,employeeexpenses,administrationandsellingexpensesit
willleadstomoreoperatingprofit.
The company may continuously maintain its proper planning and control
techniquesinordertoregulateandoptimizetheuseofcashbalance.
Thecompanymaybemaintainedthecurrentassetsproperlysothatitwilllead
tobetterpositionofworkingcapital.Thecompanymayreducethecreditorsposition
byrepayingtheloansinshortperiodforinbetterpositioninfuture.
5.3CONCLUSION
Financialperformanceisbasicinstruments,whichprovidesallinformationaboutthe
financialpositionandoperationalefficiencyofthecompany.Thecurrentratio,quickratio,
grossprofitmayincreaseinthisrespect.Itisconcludedthattheoverallfinancialperformance
wassatisfactoryasperanalysis.Thecompanyhastotakeappropriatestepstocontrolthe
cost,increasethevolumeofsales,profitinthefutureyears.
PonniSugarsconsistsofhighcapitalandinvestmentbutbusinessperformancewillbe
onlybeinginmoderatelevel.Ifthefirms concentratemoreonthefinancialaspects and
reducetheunwantedcosts,willreachthehigherprofitablepositioninthenearfuture.
BALANCESHEET(Rscrores)
Particulars
Mar'13
Mar'12
Mar'11
Mar'10
Mar'09
12
Months
12
Months
12
Months
12
Months
12
Months
8.6
8.6
8.6
8.6
8.6
Reserves&Surplus
NetWorth
SecuredLoan
UnsecuredLoan
TOTALLIABILITIES
Assets
120.54
129.14
80.31
0
209.45
102.94
111.54
48.28
0
159.82
87.65
96.25
16.45
0
112.7
71.04
79.64
34.3
0
113.94
38.2
46.79
33.58
0
80.38
GrossBlock
()Acc.Depreciation
NetBlock
172.78
39.69
133.09
73.05
28.88
44.17
71.68
26.47
45.21
70.95
23.92
47.03
69.62
21.91
47.71
0.27
84.17
14.75
0.15
Investments
Inventories
SundryDebtors
CashandBank
20.79
73.83
16.89
1.41
20.79
46.94
11.85
0.69
8.29
66.58
3.52
1.72
8.29
89.69
12.27
3.06
7.29
50.92
1.72
2.39
LoansandAdvances
TotalCurrentAssets
16.47
108.6
19.62
79.1
21.83
93.65
19.33
124.34
11.56
66.59
CurrentLiabilities
43.98
56.76
47.2
45.37
36.98
9.32
11.65
20.35
4.38
53.3
68.41
49.2
65.72
41.36
55.3
0
10.69
0
44.45
0
58.62
0
25.23
0
209.45
159.82
112.7
113.94
80.38
Liabilities
ShareCapital
CapitalWorkinProgress
Provisions
TotalCurrent
Liabilities
NETCURRENT
ASSETS
Misc.Expenses
TOTAL
ASSETS(A+B+C+D+E)
PROFITANDLOSSACCOUNT(Rscrores)
Mar'13
Mar'12
Mar'11
Mar'10
Mar'09
NetSalesTurnover
OtherIncome
TotalIncome
EXPENSES
StockAdjustments
RawMaterialConsumed
PowerandFuel
EmployeeExpenses
AdministrationandSellingExpenses
212.48
2.41
214.89
268.99
1.03
270.02
270.69
2.92
273.61
245.72
1.1
246.82
138.62
0.71
139.33
27.88
169.87
0
12.34
0
20.79
171.53
0
11
0
23.45
197.37
0
10.56
0
39.08
175.14
0
9.2
0
11.9
97.77
0
8.83
0
ResearchandDevelopmentExpenses
ExpensesCapitalized
OtherExpenses
ProvisionsMade
TOTALEXPENSES
OperatingProfit
EBITDA
Depreciation
EBIT
Interest
EBT
Taxes
ProfitandLossfortheYear
0
0
31.28
0
185.61
26.87
29.28
11.61
17.67
3.58
14.09
6.95
21.04
0
0
33.98
0
237.3
31.69
32.72
3.29
29.43
1.19
28.24
8.33
19.91
0
0
24.13
0
255.51
15.18
18.1
3.09
15.01
1.48
13.53
9.03
4.5
0
0
27.19
0
172.45
73.27
74.37
3.06
71.31
1.79
69.52
18.56
50.96
0
0
21.05
0
115.75
22.87
23.58
2.97
20.61
1.89
18.72
6.46
12.26
ExtraordinaryItems
PriorYearAdjustment
OtherAdjustments
ReportedPAT
KEYITEMS
ReservesWrittenBack
Equitycapital
ReservesandSurplus
EquityDividendRate
Agg.NonPromoterShares(lacks)
0
0
0
19.11
0
0
0
17.79
0
0
0
18.61
0
0
0
36.85
0
0
0
12.26
0
8.6
120.54
0
44.93
0
8.6
102.94
0
49.18
0
8.6
87.65
0
46.75
0
8.6
71.04
0
47.25
0
8.6
38.2
0
4.73
Agg.NonPromoterHolding(%)
52.25
57.2
54.37
54.96
54.96
GovernmentShare
CapitalAdequacyRatio
EPS(Rs.)
0
0
22.22
0
0
20.69
0
0
21.64
0
0
42.86
0
0
142.58
REFERENCES
BOOKS:
Gokul Sinha ,Financial performance Analysis, Published by Asoke K.Ghosh, PHI
learningPrivateLimited,NewDelhi,2010.
M.SarngadharanandS.RajithaKumar,FinancialAnalysisforManagementDecisions,
publishedbyAsokeK.Ghosh,PHIlearningPrivateLimited,NewDelhi,2011.
JOURNAL:
G.Malyadri,andB.SudheerKumar,Indiansugarindustry,publishedbyInternational
JournalofManagementandStrategy,2013.
Kothari C.R., Research Methodology Methods & Tec hniques,Wishawa
Prakashan,NewDelhi,2003.
D. W. Attwood, cooperative sugar International Journal of Management and
Strategy,1995.
WEBSITES:
www.ponnisugars.com
www.economictimes.indiatimes.com
www.proque
st.com