kashav mishra B48

8/8/2019 kashav mishra B48

1/25

Lovely faculty of business n arts

Term paper

OnNestle India limited

SUBMITTED TO, SUBMITTED BY,

MISS. ASHU KAKKAR name- Kashav mishra

Roll no- B48

Reg.no- 11009116


2/25

About company A Nestle India ltd. was established in 1959. And its chairman is Antonio helio waszyk.And its seceratry is b murli . Nestle india is a subsidiary Of nestle sa of swizerland . Withseven factories and a large number of co-packers. Brands of the company are groupedunder four categories, Milk Products & Nutrition, Prepared Dishes & Cooking Aids,Beverages and Chocolates & Confectionery. Nestle has been a cohort in India's growth

and has built a very special relationship of trust and commitment with the people of India. The Company's activities in India have facilitated direct and indirect employment and afforded livelihood to about one million people together with farmers, suppliers of packaging materials, services and other goods. Nestle India manufactures products of truly international quality under internationally famous brand names and in recent years the company has also introduced products of daily consumption and use such asaaNESTLE Milk, NESTLE SLIM Milk, NESTLE Fresh 'n' Natural Dahi and NESTLE JeeraRait a . Nestle India manufactures products of truly international quality underinternationally famous brand names such as NESCAF, MAGGI, MILKYBAR, MILO, KIT KAT,BAR-ONE, MILKMAID and NESTEA. The company continuously focuses its efforts to betterunderstand the changing lifestyles of India and anticipate consumer needs in order toprovide Taste, Nutrition, Health and Wellness through its product offerings. The culture of innovation and renovation within the company and access to the Nestle Group's proprietarytechnology/Brands expertise and the extensive centralized Research and Developmentfacilities gives it a distinct advantage in these efforts. During the year 2007, CNBC Asiapresented the company with the India Innovator of the year award. In the year 2007, Nestlecontinued to upgrade its production capacity, new production lines/technology were put upat the plants in Pantnagar, Moga, Ponda and Nanjangud. As in the same year, CRISILassigned Nestle India a credit rating `AAA' with stable outlook and also in the identical year2007, the company's four factories were awarded the internationally recognised externalcertification ISO 14001 for adherence to environmental processes and OSHAS 18001 forHealth and Safety. The Moga Milk district model has been highly appreciated; it was startedwith collection of only 511 kgs of milk from 180 farmers, even, now the milk collection isstood up to 1.2 million liters per day from 1,00,000 farmers prosper. The collection agenciesare 2400 as of 2007; it's a tremendous growth in this sector of the company.


3/25

History

. Nestle aspects. Nestle's regular and substantial investments established that it was here tostay. In 1967, Nestle set up its next factory at Choladi (Tamil Nadu) as a pilot plant toprocess the tea grown in the area into soluble tea. The Nanjangud factory (Karnataka)became operational in the year 1989. In 1990, the company entered into the chocolatebusiness by introducing Nestle Premium Chocolate. During begin with its first Investment inMoga in 1961, where the Government wanted Nestle to develop the milk economy.Progress in Moga required the introduction of Nestle's Agricultural Services to educate,advise and help the farmer in a variety of the period of 1991, the company entered in JVfloated by the parent in collaboration with BM Khaitan group to set up facilities tomanufacturing a range of Soya based products. The Samalkha factory (Haryana) was startedits operation in 1993. Kitkat, the company's worldwide legendary brand chocolate waslaunched in the year 1995. Nestle commissioned two factories in Goa at Ponda and Bicholimin the year 1995 and 1997 respectively. Nestle Growing Up Milk was launched nationally inthe year 1999. In April 2000, the company forayed into the Ultra Heat Treated (UHT) liquidmilk market. Launched Nestle Pure Life bottled water in the year 2001 by the company,within few months, again launched its second water brand-San Pellegrino-- in the Indianmarket. The company also made its foray into the iced tea segment. Iced tea has alreadybeen soft-launched in Mumbai in two flavours, one being peach. The company commencedparticipation in this global Nestle initiative in the year 2003 to create and adapt commonbusiness process, permitting adoption of best practices, standardization of internal andexternal master data and standardization of the information systems infrastructure. Duringthe year 2004, a project has been initiated to upgrade the production technology for infantnutrition products at the Samalkha factory. Nestle India Ltd recognised for its outstandingperformance in Exports by the Coffee Board of India in the Export Awards 2004-05 as theBest Exporter of Instant Coffee, Best Exporter to Russia & CIS Countries (coffee) and BestExporter for Far East Countries (coffee). The company bestowed the UDYOG RATNA awardby the PHD Chamber of Commerce and Industry to recognise Nestle's significantcontribution to the economic development of Punjab for the year 2005. A new department -the Channel & Category Sales Development (CCSD) was set up to develop new solutions forthe various channels and customers and improve the implementation of commercial plansin the market.The factory in Moga was also conferred the Punjab Government's award for `EnvironmentalExcellence'. Again recognised for its outstanding performance in Exports by the Coffee

Board of India in the Export Awards 2005-06 as the Second Highest Exporter of InstantCoffee and Second Highest Exporter of Coffee to the Far East countries. The Company hasreceived the highest coffee exporter awards from the Coffee Board of India for many years.It is also an honour for the company that in a survey conducted by A.C.Nielsen for CNBC,consumers voted NESCAFE as the most preferred coffee brand of the nation during 2005-06.Nestle India has commissioned its 7th factory at Pant Nagar in Uttarakhand during theperiod 2006 for the purpose of manufacture culinary products with cost of around Rs.100crore.


4/25

Nestle plans R&D centre in india-On sept.22 Fmcg major nestle on Wednesday announced that it would investrs. 230 crore to set up it first research and development centre in india .the

r&d centre will come up at maneswar and is expected to be operational byJuly 2012. Mr. Klaus zimmermann head of nestle r&d centre in indiawould beused for facilitating innovation in a wide variety of foods including culinary ,cerals ,beverages and dairy products . nestle india need and deserve an r&dcentre .we will focus on developing popularity positioned products . india willbe the worldwide centre for developing products which make nutritionaffordablehe added.

The centre would be built an area of 200000sq ft and house 40 scientist and

engineer initially .Nestle new strategy in India has been to develop more indigenous productfor the domestic market. Mr. Antonio halio waszyk chairman and managingdirector nestle India added that product like munch and ultra magi would beexport from india soon.

Our continous access to nestle global r&d has significantly contributed to ourperformance

And nestle decision to establishan r&d centre in India will be an additionalcompetitive advantage in the future . it will help us to accelerate thecompany growth rate and contribution towards reducing nutritionaldeficiencies in India

General directors of the nestle India ltd.

Director (Finance & Control) Shobinder Duggal 1,33,67,000.00

Director Pradip Baijal 5,90,000.00Director Micheel W O Garrett 4,10,000.00Director Ravinder Narain 6,10,000.00Alternate Director Richard Sykes -Senior Vice President & CS B Murli -

Chairman & Managing DirectorAntonio HelioWaszyk 1,25,91,000.00

Director Rakesh Mohan -Non Executive Director Swati A Piramal -Director (Technical) Christian Schmid -


5/25

Company >> Finance >> Balance SheetNestle India Ltd

Industry :Food And Dairy Products Multinational(Rs in Crs)

Year Dec 09 Dec 08SOURCES OF FUNDS : Share Capital 96.42 96.42Reserves Total 484.85 376.93Equity Share Warrants 0 0

Total Shareholders Funds 581.27 473.35Current Liabilities 587.59 507.46Provisions 834.79 677.32

Total Current Liabilities 1,422.38 1,184.78Equity Application Money 0 0Secured Loans 0 0Unsecured Loans 0 0Total Debt 0 0Total Liabilities 2,003.65 1,658.13APPLICATION OF FUNDS : Gross Block 1,640.79 1,404.84Less : Accumulated Depreciation 744.59 651.54Less:Impairment of Assets 0 0.31

Net Block 896.2 752.99Lease Adjustment 0 0

Capital Work in Progress 79.63 109.17Investments 203.26 34.9Current Assets, Loans & AdvancesInventories 498.74 434.91Sundry Debtors 64.19 45.59Cash and Bank 155.58 193.69Loans and Advances 138.05 123.76Total Current Assets 856.56 797.95Net Current Assets -565.82 -386.83Miscellaneous Expenses not written off 0 0Deferred Tax Assets 46.8 38.91Deferred Tax Liability 78.8 75.79Net Deferred Tax -32 -36.88Total Assets 2003.65 1658.13

Contingent Liabilities 0 0


6/25


7/25

Earnings Per Share(Adj)-Unit CurrBook Value-Unit Curr 60.29 49.09

common size balance sheetNestle India Ltd

Industry :Food And Dairy Products Multinational

(Rs inCrs)

Year Dec 09 Dec 08 %change2009 %change2008SOURCES OF FUNDS :

Share Capital 96.42 96.42 4.812218 5.814984Reserves Total 484.85 376.93 24.19834 22.73223Equity Share Warrants 0 0 0 0Equity Application Money 0 0 0 0Total Shareholders Funds 581.27 473.35 29.01056 28.54722Secured Loans 0 0 0 0Current Liabilities 587.59 507.46 29.32598 30.60436

Provisions 834.79 677.32 41.66346 40.84843Total Current Liabilities 1,422.38 1,184.78 70.98944 71.45278

Unsecured Loans 0 0 0 0Total Debt 0 0 0 0Total Liabilities 2,003.65 1,658.13 100 100APPLICATION OF FUNDS : 0 0Gross Block 1,640.79 1,404.84 81.89005 84.72436

Less : Accumulated Depreciation 744.59 651.54 37.16168 39.29366Less:Impairment of Assets 0 0.31 0 0.018696

Net Block 896.2 752.99 44.72837 45.412Lease Adjustment 0 0 0 0

Capital Work in Progress 79.63 109.17 3.974247 6.583923Investments 203.26 34.9 10.14449 2.104781Current Assets, Loans & Advances 0 0

Inventories 498.74 434.91 24.89157 26.22894Sundry Debtors 64.19 45.59 3.203653 2.749483

Cash and Bank 155.58 193.69 7.764829 11.68123Loans and Advances 138.05 123.76 6.889926 7.46383Total Current Assets 856.56 797.95 42.74998 48.12349Miscellaneous Expenses not written off 0 0 0 0Deferred Tax Assets 46.8 38.91 2.335737 2.346619Deferred Tax Liability 78.8 75.79 3.932823 4.570812Net Deferred Tax -32 -36.88 -1.59709 -2.22419Total Assets 2003.65 1658.13 100 100


8/25

Interpretation of common size

COMPANY TOTAL SHARHOLDER FUNDS ARE INCREASING COMPARE TO 2008 itsshareholder fund in 2008 28.54 and 2009 29.01 .

Company total liabilities are increasing compare to previous year.

Company fixed assets are increaing compare to previous year.

Company invetment are increasing it means has purchased more investment.

Company debtors are increasing it means company has increased it sales .

Company net sales are increasing so company has increased it stock.

Company operating profit is increasin it means company has decreaed its cost of production.

Company gross profit is increasing 19.99 and its grosss profit is in 2009 20.04

It means company has decresed its cost of production.

Company net profit is increasing because company has increased its sales .


9/25

common size income statementNestle India Ltd


(Rs inCrs)

YearDec09(12)

Dec08(12) %change2009

%change2008

INCOME : Sales Turnover 5,222.42 4,471.06 101.77 103.31

Excise Duty 90.68 143.39 1.77 3.31Net Sales 5,131.74 4,327.67 100.00 100.00Other Income 37.8 33.89 0.74 0.78

Stock Adjustments 6.29 31.12 0.12 0.72Total Income 5,175.83 4,392.68 100.86 101.50EXPENDITURE : 0.00 0.00

Raw Materials 2,073.25 1,785.51 40.40 41.26Power & Fuel Cost 158.87 159.76 3.10 3.69

Employee Cost 432.39 306.92 8.43 7.09Other Manufacturing Expenses 524.8 476.36 10.23 11.01

Selling and Administration Expenses 868.96 723.32 16.93 16.71Miscellaneous Expenses 87.91 73.99 1.71 1.71

Less: Pre-operative Expenses Capitalised 0 0 0.00 0.00Total Expenditure 4,146.18 3,525.86 80.79 81.47Operating Profit 1,029.65 866.82 20.06 20.03Interest 1.4 1.64 0.03 0.04Gross Profit 1,028.25 865.18 20.04 19.99Depreciation 111.27 92.36 2.17 2.13Profit Before Tax 916.98 772.82 17.87 17.86Tax 265.34 222.31 5.17 5.14

Fringe Benefit tax 1.52 8.25 0.03 0.19Deferred Tax -4.88 8.18 -0.10 0.19Reported Net Profit 655 534.08 12.76 12.34Extraordinary Items -2.17 -1.91 -0.04 -0.04Adjusted Net Profit 657.17 535.99 12.81 12.39Adjst. below Net Profit 0 0 0.00 0.00


10/25


11/25

comparative balance sheet


(Rs inCrs)

Year Dec 09 Dec 08inc/dec inamt.

inc/decin%

SOURCES OF FUNDS : Share Capital 96.42 96.42 0 0Reserves Total 484.85 376.93 107.92 28.63131Equity Share Warrants 0 0 0Equity Application Money 0 0 0Total Shareholders Funds 581.27 473.35 107.92 22.7992Secured Loans 0 0 0

Unsecured Loans 0 0 0Current Liabilities 587.59 507.46 80.13 15.79041

Provisions 834.79 677.32 157.47 23.24898Total Current Liabilities 1,422.38 1,184.78 237.6 20.05436Total Debt 0 0 0Total Liabilities 2,003.65 1,658.13 345.52 20.83793APPLICATION OF FUNDS : 0

Gross Block 1,640.79 1,404.84 235.95 16.79551Less : Accumulated Depreciation 744.59 651.54 93.05 14.28155Less:Impairment of Assets 0 0.31 -0.31 -100

Net Block 896.2 752.99 143.21 19.01884Lease Adjustment 0 0 0

Capital Work in Progress 79.63 109.17 -29.54 -27.0587Investments 203.26 34.9 168.36 482.4069Current Assets, Loans & Advances 0

Inventories 498.74 434.91 63.83 14.6766Sundry Debtors 64.19 45.59 18.6 40.79842

Cash and Bank 155.58 193.69 -38.11 -19.6758Loans and Advances 138.05 123.76 14.29 11.54654Total Current Assets 856.56 797.95 58.61 7.345072Miscellaneous Expenses not written off 0 0 0Deferred Tax Assets 46.8 38.91 7.89 20.27756Deferred Tax Liability 78.8 75.79 3.01 3.9715Net Deferred Tax -32 -36.88 4.88 -13.2321Total Assets 2003.65 1658.13 345.52 20.83793

0 0


12/25

Interpretation of comparative balance sheet

Current assets are increasing 58.61(7.31%) except cash and bank are decreasing,

All current assets are increasing. Debotors are increasing by 40.79%. it meanscompany can pay its short term liabilties easily.

Current liabilities are increasing by 237.6 but in % is 20.06 . company currentliabilties are increasing compare to 2008 so company should try to reduce its currentliabilities . its not satisfactory .

Fixed assets are increasing by 143.21which is 19.01 % it means company hasincreased it fixed assets so company can pay it long term liabilities .

Company share capital is not increasing compare to previous year company has notissued new share capital to increase its share capital. But company has increased itsreserve fund by 107.92(28.63%) it means company are increasing its reserve nsurplus fund for future contingency.

Total assets are increasing % is 20.83 so company has in creased it capital by

345.52. so company can use it to pay its liabilities.

Company investment are increasing it means company has increased its investmentby 168.36.and company cash are decreasing it means company used its cash topurchase the new investment or pay short term liabilities.

Company stock are increasing and company sales are also incresing .it meanscompany are incresing its stock for the sales and company debtors are also incresingdue to increase in sales of company.


13/25

comparative incomestatement

Nestle India Ltd


(Rs in Crs)

YearDec09(12)

Dec08(12)

inc/dec inamt

inc/decin %

INCOME :

Sales Turnover 5,222.42 4,471.06 751.36 16.80

Excise Duty 90.68 143.39 -52.71 -36.76Net Sales 5,131.74 4,327.67 804.07 18.58

Other Income 37.8 33.89 3.91 11.54

Stock Adjustments 6.29 31.12 -24.83 -79.79

Total Income 5,175.83 4,392.68 783.15 17.83

EXPENDITURE : 0.00

Raw Materials 2,073.25 1,785.51 287.74 16.12P

ower & Fuel Cost 158.87 159.76 -0.89 -0.56

Employee Cost 432.39 306.92 125.47 40.88

Other Manufacturing Expenses 524.8 476.36 48.44 10.17Selling and AdministrationExpenses 868.96 723.32 145.64 20.13

Miscellaneous Expenses 87.91 73.99 13.92 18.81Less: Pre-operative ExpensesCapitalised 0 0 0.00

Total Expenditure 4,146.18 3,525.86 620.32 17.59

Operating Profit 1,029.65 866.82 162.83 18.78

Interest 1.4 1.64 -0.24 -14.63

Gross Profit 1,028.25 865.18 163.07 18.85Depreciation 111.27 92.36 18.91 20.47

Profit Before Tax 916.98 772.82 144.16 18.65

Tax 265.34 222.31 43.03 19.36

Fringe Benefit tax 1.52 8.25 -6.73 -81.58

Deferred Tax -4.88 8.18 -13.06-

159.66

Reported Net Profit 655 534.08 120.92 22.64Extraordinary Items

-2.17 -1.91 -0.26 13.61

Adjusted Net Profit 657.17 535.99 121.18 22.61Adjst. below Net Profit 0 0 0.00


14/25

P & L Balance brought forward 100.11 12.52 87.59 699.60

Interpretation of comparative income statement

Company sales are incresing so company has incresed its stock.

Company income are increasing because company has decreased it expenditurecompare to 2008. Because of decrease in expenidure company income areincreasing.

Company gross profit are increasing . it means company has decreased its cost of production. Because of decrease in cost of production company gross profit areincreasing.

Company net profit are increasing due to increase in sales


15/25

100 114.67

Interpretation of trend analysis- Net sales are increasing compare to 2008 but stock is also increasing

By 14.67 it means company has increased its sales and stock. Total shareholder fund are increasing compare to 2008 by 22.64 . it means

company assets are increasing and liabilties are decreasing . because of increase inassets company shareholder fund are increasing .

Company net profit is increasing compare to 2008 . its profit is increasing by 121%because company sales are increasing due to increase in sales company profits arealso increasing.

Company total income are increasing due to increase in sales but company totalexpenditure are also incresing compare to base year.

Company gross profit are increasing compare to 2008. Because company cost of good sold are decreasing .

Company current assests are incresing and current liabilties are also increasing itmeans company has increased it current assets but company current liabiltes arealso increasing so company should decrese it current liabilities.

Company stock are increasing compare to 2008 it means company has increased itinventory and company sales are also increasing due to increase in sales companyhas increased it inventory.

Company fixed assets are also increasing it measn company can easily pay its longterm liabilties.

TREND ANALYSIS2009 2008 2008 2009

net sales 5,131.74 4,327.67 100 118.5797

total income 5,175.83 4,392.68 100 117.8285operating profit 1,029.65 866.82 100 118.7848total expenditure 4,146.18 3,525.86 100 117.5934gross profit 1,028.25 865.18 100 118.8481profit before tax 916.98 772.82 100 118.6538net profit 655 534.08 100 122.6408total shareholder fund 581.27 473.35 100 122.7992total current liabilities 1,422.38 1,184.78 100 120.0544net block 896.2 752.99 100 119.0188Investment 203.26 34.9 100 582.4069total current assets 856.56 797.95 100 107.3451

Inventories 498.74 434.91


16/25

RATIO ANALYSIS

LIQUIDITY RATIO 2009 2008

CURRENT RATIO 0.602202 0.673501

QUICK RATIO 0.15451 0.201962

ABSOLUT LIQUID 0.10938 0.163482

LEVERAGERATIO

PROPRIETORY RATIO 29.01056 28.54722

FIXED ASSETS TO NET

WORTH1.541796 1.590768

ACTIVITY RATIO OREFFICIENCY RATIO

INVENTORY TURNOVER 8.23 7.961394RATIO

DEBTORS TURNOVERRATIO 13.98294 94.92586

DEBTORS COLLECTIONPERIOD 26.10873 3.845343

PROFITABILITY RATIO

GROSS PROFIT RATIO 20.03706 19.99182

NET PROFIT RATIO 12.7637 12.34105

OPERATING PROFITRATIO

20.06434 20.02972


17/25

Interpretation of ratio-

current ratio=current asset/currenliabilities

The rule of thumb for current ratio is 2:1 it means that current liabilties should be half of Current asset .but here the current ratio in 2009 is .60 and 2008 is .67 it meansCompany current asets is .60 times to current liabilties which is not satisfactory for

the company. According to creditors high current ratio is good for them butaccording to shareholders high ratio is not good for them.

Quick ratio=current assets-stock-prepaid expense/current liabilities

The rule of thumb for quick ratio is 1:1 it means quick assets should be equal to quickliabilties. but here the quick ratio is .15 in 2009 and 2008 .20 which is very less . it meansquick assets is .15 and .20 times of liabilties which is not satisfactory and company will notbe able to pay its short term liabilties.

absolute liquid ratio=cash+marketable securities/current liabilitie It shows relation between absolute liquid assets between liquid liabilities this ratio

shows company company quick payment financial value.the rule of thumb for

absolute liquid ratio is .50:1 .it means quick assets should be half of currentliabilities but here the ratio is .10 and .16 which is very less it means companyliquidity position is not satisfactory.

proprietry ratio=shareholders funds/total assets*100

It shows relation between shareholder fund and total assets how muchtotal assets have been financed from shareholder fund . from this ratio

creditors can come to know debt % of company . if this ratio is high thenit will be good for creditors they will be more sacure.but here the ratio is

RETURN ON INV. 112.6843 112.8298

RETURN ON EQUITY 679.3196 553.91


18/25

in 2009 29% and in 2008 28% which is not satisfactory it meanscompany has financed it assets from outside liabilities.fixed asset to net worth =fixed asset after depreciation/net worth

How many fixed assets which we have financed from shareholder fund.here the ratio is 1.54 and 1.59 which is good for the compay

inventory turnover ratio=cost of goods sold/average inventory

Inventory turnover ratio shows relation between stock and sales if company stockratio is lhigh and company sales are high then company position is good .High stock ratio is good for company. Here the stock ratio is 8.23 and 7.96 times itmeans the stock of the cash are converted into year which is good for the firm.

debtors turn over ratio=net credit sales/average debtor

It is also called receivables turnover ratio. It shows relation betweensales receivables thatwe are able to receive our amount from debtorsvery quicklu or not. Here the ratio is 13.98 and 94.92 it means in 2009company is able to receive its money very quickly but in 2008 its notable to receive its money quickly.

Debtors collection period=365/debtors turnover ratio

This ratio shows in how many days we are able to receive it money fromdebtors.Here the ratio is 26 days and 3 days it means that in 2009 company able toreceive its money in 26 days and 2008 is 3 days .

Gross profit ratio= gross profit /sales *100 In this ratio high ratio is good but here the ratio is 20.04% and 19.99% which is not

satisfactorybecause the portion of profit in net sales is only 20.04 and 19.99% itmeans that the firm is not earning much profit from its sales. So company shouldshould try to increase its profit and reduce their cost of production.

Net profit ratio=net profit / sales*100 high ratio is better and it measures ralation between net profit and net sales but here the

ratio is 12.76 and 12.34 which is very less and it is not satisfactory for the company socompany should reduce their cost of production to increase their profit.


19/25

Operating ratio=cost of sales +operating exp./sales*100

this ratio shows relation between total operating exp. and net saleshigh ratio is not good for company because high ratio shows highoperating exp.here the ratio is 20.06 and 20.02 which is good forcompany.

Return on investment= return on investment=net profit after interest

and taxes/shareholders fund*100

return on equity capital=net profit after tax-preference dividend/equityshare capital*100

it shows relation between net profit and equity capital here the ratio is

679 and 553 which is satisfactory for company.

this ratio developes the relation between the profit and investment and high ratiois considered good but here the ratio is 122.68 and 112.84 it means companyProfit is good and satisfactory.


20/25

schedule of changes in working capitalCURRENT ASSETS 2008 2009 INCREASE DECREASEInventories 498.74 434.91 63.83Sundry Debtors 64.19 45.59 18.6Cash and Bank 155.58 193.69 38.11Loans and Advances 138.05 123.76 14.29

Total Current Assets 856.56 797.95

CURRENT LIABILITIESCurrent Liabilities 587.59 507.46 80.13Provisions 834.79 677.32 157.47

Total Current Liabilities 1,422.38 1,184.78

WORKING CAPITAL -565.82 -386.83NET INCREASE IN WORKING CAPITAL 178.99

275.71 275.71

fund from operations

net profit for the year ended 655add- non operating exp.

Depreciation 111.27

Dividend 467.62transfer to general reserve 107.92provison for taxation 834.79

1521.6fund from operation 2176.6


21/25


22/25

cash flow

cash flow from operatingactivity 2009

profit paid during the year 655add-non operating exp.transfer to general res. 107.92depreciation 111.27Interest 1.4Tax 265.34net profit after adjustment beforeworking capital changes 1140.93

adjustment for changesadd-current liabilities 80.13provision 157.47

less-increase in inventory 63.83Debtors 18.6loan n advances 14.29

net cash flow from operating activity 1347.59

cash flow from investing activityless-purchase of fixed assets -143.21increase in investment -1710.69

net cash flow from investing activity -1853.9

cash flow from financing activity

issue of share 0dividend paid 467.62net cash flow from financing activity 467.62net cash flow -38.69

op. bal. of cash 193.69closing bal. of cash 155.58


23/25


24/25


25/25

Documents

kashav mishra B48