Varun Shipping Company Finance

8/3/2019 Varun Shipping Company Finance

1/7

profit

VSC 201103

200703 201103Varun

Shipping Company

Previous Years

Profit & Loss account ------------------- in Rs. Cr. -------------------

Mar '11 Mar '10 Mar '09 Mar '08 Mar '07

12 mths 12 mths 12 mths 12 mths 12 mths

Income

Sales Turnover 491.43 666.22 914.66 932.57 672.63

Excise Duty 0.00 0.00 0.00 0.00 0.00

Net Sales 491.43 666.22 914.66 932.57 672.63

Other Income 389.17 243.43 27.12 4.48 51.38

Stock Adjustments 0.00 0.00 0.00 0.00 0.00

Total Income 880.60 909.65 941.78 937.05 724.01

Expenditure

Raw Materials 26.96 38.50 38.87 33.44 40.46

Power & Fuel Cost 0.00 0.00 0.00 0.00 0.00

Employee Cost 111.83 123.36 128.37 106.85 86.03

Other Manufacturing Expenses 298.09 172.50 193.05 155.15 132.00

Selling and Admin Expenses 0.00 29.14 24.13 16.17 18.35

Miscellaneous Expenses 32.98 16.63 33.36 28.38 22.68

Preoperative Exp Capitalised 0.00 0.00 0.00 0.00 0.00

Total Expenses 469.86 380.13 417.78 339.99 299.52



Operating Profit 21.57 286.09 496.88 592.58 373.11

PBDIT 410.74 529.52 524.00 597.06 424.49

Interest 216.01 239.14 175.74 157.24 111.09

PBDT 194.73 290.38 348.26 439.82 313.40

Depreciation 177.89 236.49 271.14 211.92 165.71

Other Written Off 0.00 0.00 0.00 0.00 0.00

Profit Before Tax 16.84 53.89 77.12 227.90 147.69


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Extra-ordinary items 1.28 0.02 50.00 -1.22 -0.28

PBT (Post Extra-ord Items) 18.12 53.91 127.12 226.68 147.41

Tax 3.35 41.36 4.31 2.12 6.34

Reported Net Profit 14.75 12.55 122.81 225.78 141.35

Total Value Addition 442.91 341.63 378.91 306.55 259.06

Preference Dividend 0.00 0.00 0.00 0.00 0.00

Equity Dividend 12.00 12.00 75.00 74.99 60.50

Corporate Dividend Tax 1.95 1.99 12.75 12.74 9.12

Per share data (annualised)

Shares in issue (lakhs) 1,500.08 1,500.08 1,500.08 1,500.08 1,427.58

Earning Per Share (Rs) 0.98 0.84 8.19 15.05 9.90

Equity Dividend (%) 8.00 8.00 50.00 50.00 45.00

Book Value (Rs) 54.61 54.48 54.11 60.99 50.70


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Varun Shipping Company Previous Years

Balance Sheet ------------------- in Rs. Cr. -------------------



Sources Of Funds

Total Share Capital 150.01 150.01 150.01 150.00 142.74

Equity Share Capital 150.01 150.01 150.01 150.00 142.74

Share Application Money 0.00 0.00 0.00 0.00 5.44

Preference Share Capital 0.00 0.00 0.00 0.00 0.00

Reserves 669.15 667.21 661.74 764.84 581.06

Revaluation Reserves 0.00 0.00 0.00 0.00 0.00

Networth 819.16 817.22 811.75 914.84 729.24

Secured Loans 2,634.00 2,701.85 2,846.84 2,200.82 1,793.05

Unsecured Loans 69.65 39.55 0.00 0.00 0.00

Total Debt 2,703.65 2,741.40 2,846.84 2,200.82 1,793.05

Total Liabilities 3,522.81 3,558.62 3,658.59 3,115.66 2,522.29



Application Of Funds

Gross Block 2,415.77 3,635.45 4,316.17 3,765.94 2,925.30

Less: Accum. Depreciation 523.47 688.55 780.02 636.13 481.38

Net Block 1,892.30 2,946.90 3,536.15 3,129.81 2,443.92

Capital Work in Progress 0.00 0.00 0.00 0.00 0.00

Investments 27.32 42.23 20.75 20.75 20.75

Inventories 0.00 15.98 13.21 12.54 4.33

Sundry Debtors 1,084.65 331.92 61.73 56.15 52.84

Cash and Bank Balance 0.00 31.60 92.49 36.73 34.39

Total Current Assets 1,084.65 379.50 167.43 105.42 91.56


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Loans and Advances 782.13 357.24 113.87 15.50 52.06

Fixed Deposits 0.00 2.46 0.64 0.72 0.63

Total CA, Loans & Advances 1,866.78 739.20 281.94 121.64 144.25

Deffered Credit 0.00 0.00 0.00 0.00 0.00

Current Liabilities 263.60 106.74 139.48 61.24 57.28

Provisions 0.00 62.98 40.78 95.30 29.35

Total CL & Provisions 263.60 169.72 180.26 156.54 86.63

Net Current Assets 1,603.18 569.48 101.68 -34.90 57.62

Miscellaneous Expenses 0.00 0.00 0.00 0.00 0.00

Total Assets 3,522.80 3,558.61 3,658.58 3,115.66 2,522.29

Contingent Liabilities 264.84 189.85 17.10 23.15 458.32

Book Value (Rs) 54.61 54.48 54.11 60.99 50.70


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Varun Shipping Company Previous Years

Key Financial Ratios ------------------- in Rs. Cr. -------------------


Investment Valuation Ratios

Face Value 10.00 10.00 10.00 10.00 10.00

Dividend Per Share 0.80 0.80 5.00 5.00 4.50

Operating Profit Per Share (Rs) 1.44 19.07 33.12 39.50 26.14

Net Operating Profit Per Share (Rs) 32.76 44.41 60.97 62.17 47.12

Free Reserves Per Share (Rs) -- 34.16 30.37 38.53 30.84

Bonus in Equity Capital 0.47 0.47 0.47 0.48 0.50

Profitability Ratios

Operating Profit Margin(%) 4.38 42.94 54.32 63.54 55.47

Profit Before Interest And TaxMargin(%)

-29.21 7.37 24.64 40.71 30.75

Gross Profit Margin(%) -31.81 7.44 24.68 40.81 39.11

Cash Profit Margin(%) -28.78 1.71 34.73 46.58 45.53

Adjusted Cash Margin(%) -28.78 1.71 34.73 46.58 38.17

Net Profit Margin(%) 2.75 1.86 13.40 24.15 20.96

Adjusted Net Profit Margin(%) 2.75 1.86 13.40 24.15 13.59

Return On Capital Employed(%) -3.19 1.56 6.20 12.29 8.29

Return On Net Worth(%) 1.80 1.53 15.12 24.67 19.38

Adjusted Return on Net Worth(%) -40.52 -27.52 5.78 24.44 12.66

Return on Assets ExcludingRevaluations

54.61 54.48 54.11 60.99 50.70

Return on Assets IncludingRevaluations

54.61 54.48 54.11 60.99 50.70

Return on Long Term Funds(%) -3.19 1.56 6.20 12.29 8.30

Liquidity And Solvency Ratios

Current Ratio 7.08 4.36 1.56 0.78 1.66

Quick Ratio 7.08 4.26 1.49 0.70 1.61


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Debt Equity Ratio 3.30 3.35 3.51 2.41 2.48

Long Term Debt Equity Ratio 3.30 3.35 3.51 2.41 2.48

Debt Coverage Ratios

Interest Cover -0.52 0.29 1.56 2.75 1.88

Total Debt to Owners Fund 3.30 3.35 3.51 2.41 2.48

Financial Charges Coverage Ratio 0.30 1.22 2.83 3.78 3.37

Financial Charges Coverage RatioPost Tax

1.89 2.04 3.24 3.78 3.76

Management Efficiency Ratios

Inventory Turnover Ratio -- 41.69 69.24 74.37 155.71

Debtors Turnover Ratio 0.69 3.38 15.52 17.11 13.48

Investments Turnover Ratio -- 41.69 69.24 74.37 155.31

Fixed Assets Turnover Ratio -- 0.18 0.21 0.25 0.32

Total Assets Turnover Ratio -- 0.19 0.25 0.30 0.27

Asset Turnover Ratio 0.20 0.18 0.21 0.25 0.23

Average Raw Material Holding -- -- -- -- --

Average Finished Goods Held -- -- -- -- --

Number of Days In Working Capital 1,174.43 307.72 40.02 -13.47 30.83

Profit & Loss Account Ratios

Material Cost Composition 5.48 5.77 4.25 3.58 6.01

Imported Composition of RawMaterials Consumed

-- -- -- -- --

Selling Distribution Cost Composition -- 0.68 0.63 0.19 0.34

Expenses as Composition of TotalSales

-- -- -- -- --

Cash Flow Indicator Ratios

Dividend Payout Ratio Net Profit 94.57 111.47 71.45 38.85 49.25

Dividend Payout Ratio Cash Profit -- 5.61 22.27 20.04 22.67

Earning Retention Ratio 104.20 106.22 -86.82 60.78 24.08

Cash Earning Retention Ratio -- -21.24 72.42 79.86 72.96

AdjustedCash Flow Times -- 237.53 8.95 5.05 6.97


Earnings Per Share 0.98 0.84 8.19 15.05 9.90


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Book Value 54.61 54.48 54.11 60.99 50.70

Documents

Varun Shipping Company Finance