Standalone Balance Sheet for FY 2014, 2013, 2012

Saurashtra Cements
3/31/2014 in crores

EQUITY AND LIABILITIES

Note

Shareholder's fund:
Share Capital
Reserves and Surplus
Total

2
3

5,807.02
11,056.00
16,863.02

4
5
6

3,781.27
711.65
807.07

7
8
9
10

574.52
3,475.39
14,535.59
365.32
18,950.82
41,113.83

Non Current Liabilities:

Long term Borrowings
Other long term borrowings
Long term provisions
Total

Current Liabilities:
Short term borrowings
Trade Payables
Other current liabilities
Short term provisions
Total
Grand Total

Assets
Non- Current Assets:

11

Fixed Assets:
Tangible Assets
Intangible Assets
Tangible Capital WIP
Intangible Assets under
development
Total
Non-current investments
Deferred Tax Assets (net)
Long-term Loans and Advances
Other Non-current Assets
Total

Current Assets:
Inventories
Trade Receivables
Cash and Bank Balances
Short term Loans and Advances

18,739.35
133.4
5,909.51
Nil
24,782.26
12
13
14
15

1,499.43
Nil
1,349.57
318.78
27,950.04

16
17
18
19

5,674.36
1,614.08
4,060.32
1,449.26

Other Current Assets

Total
Grand total

20

365.77
13,163.79
41,113.83

Statement of Profit and Loss for the year ending 2012, 2013, 2014

Revenue from operations (gross)

Less: Excise duty
Revenue from operations (net)
Other income
Total Revenue

Note
21

22

For the Year Ended

March 31, 2012 in crores
48,280.22
-4,282.49
43,997.73
527.58
44,525.31

Expenses
Cost of materials consumed
Purchases of stock-in-trade
Changes in inventories of finished
goods, work-inprogress
and stock-in-trade
Employee benefits expense
Finance costs
Depreciation and amortization
expense
Less: Amount withdrawn from
revaluation reserve
Impairment loss
Other expenses

23
24

3,163.13
1,610.34

25
26
27

250.79
2,491.20
4,469.90
2,423.63

28

Total Expenses
Profit/(Loss) before exceptional
items and tax

-2,048.58
Nil
-2,048.58

Exceptional items - gain / (loss)

Profit/ Loss before tax

Tax expense
Current tax
Deferred tax
Excess provision of FBT written back
Less: MAT Credit Entitlement (Refer
Note 30)

Profit/(Loss) for the year

Earnings per equity share of ` 10
par value per
share

-220.88
0
32,385.79
46,573.90

29
Nil
Nil
Nil
Nil
-2,048.58

Basic and diluted ( Regular Per share)

39

-4.18

4, 2013, 2012

3/31/2013 in crores

3/31/2012 in crores

5807.02
8984.46
14791.48

5,807.02
-9,331.95
-3,524.93

11,446.47
680.92
807.67
12,935.06

10,266.03
633.88
725.15
11,625.06

572.05
3,642.65
11,164.16
251.73
15630.59
43357.13

539.78
4,327.40
32,256.27
228.4
37,351.85
45,451.98

20,635.66
33.14
6,358.10

21,865.69
42.75
7,727.60

69.75
27,096.65

29,636.04

1,499.43
0
1,393.37
480.41
30,469.86

1,499.54
3,204.68
1,304.31
422.9
36,067.47

6,666.42
1,407.23
3,420.76
1,082.62

5,446.29
1,819.23
588.64
1,468.67

310.24
12887.27
43,357.13

61.68
9,384.51
45,451.98

ear ending 2012, 2013, 2014

Note
21

22

For the Year Ended

March 31, 2013 in
crores
59,957.50
-5,924.55
54,032.95
1,027.90
55,060.85

Note
21

22

23
24

3,495.64
2,939.66

23
24

25
26
27

-0.71
2,818.84
3,338.27

25
26
27

3,497.89

28

29

-55.32
0.00
3,442.57
49,599.73
5,461.12
16,115.29
21,576.41

30

28

29
30

Nil
3,204.68
Nil
Nil
18,371.73

40

35.71

40

For the Year Ended

March 31, 2014 in
crores
58,544.69
5,408.47
53,136.22
509.49
53,645.71

3,685.35
3,983.82

307.79
3,003.32
1,636.97
2,606.73
18.27
0.00
36,349.59
51,555.30
2,090.41
Nil
2,090.41
538.68
Nil

538.07
2,089.80

3.91

Note 11 for Fixed Assets- Balance Sheet for Financial Year 2013-2014
Gross Block

Note 11: Fixed Asset [Refer note i]

Tangible Fixed Assets
Freehold land
Leasehold land
Refer Note (ii)
Buildings and Jetty
[Refer Note (iii)]
Plant and equipments
[Refer Note(iv),(v)]
Furniture and Fixtures
Vehicles
[Refer Note (vi)]
Office equipments
Railway siding,
weighbridge, rolling
stock and locomotive
Current Year
Previous year
Intangible Fixed Assets
Goodwill
Computer softwares
Current Year
Previous year
Capital work in progress
Tangible Capital WIP
[Refer Note (vii),(viii)]
Current Year
Previous year
Intangible Capital WIP
Computer softwares
Current Year
Previous year
Notes:

As at April 1 2013

Additions

239.08
239.08
21.45
21.45
6,085.90
6,004.78
45,413.25
45,427.13
1,165.57
1,145.13
1,480.72
1,311.67
544.91
433.94

25.71
81.12
419.03
466.34
51.18
26.7
177.15
321.27
27.96
140.79

281.56
281.56
55,232.44
54,864.74

701.03
1,036.22

95.27
99.03
194.3
192.09

139.68
139.68
2.21

8,341.11
8,384.30

69.75
-

554.28
471.37

69.75

i) Gross Block includes 4061.10 crores (Previous year 4345.89 crores) added on revaluation of the Holding
Company's free-hold and leasehold land, buildings, plant and machinery situated at Ranavav in order to reflect a
realistic position of the net replacement cost of such assets, on the basis of valuation made by an external valuer,
which had resulted in a net increase of 5722.61 crores, as at June 30, 1993.

ii) Besides the land specified above, the Holding Company holds other leasehold land for which the Holding
Company pays only ground rent.
iii) Buildings exclude cost of shares held in a Co-operative Society included under Note 12 of Non-current
iv) Plant and equipments include cost of service line of 33.20 crores (Previous Year 33.20 crores), ownership of which
is vested with Paschim Gujarat Vij Company Limited.
v) Plant and equipments include cost of assets of 206.69 crores (Previous Year 206.69 crores), acquired under lease
purchase agreements.
vi) Vehicles include assets financed under hire purchase agreements.

vii) Accounting of Fixed Assets and Borrowing Costs

Capital work-in-progress includes pre-operative expenses, as under:
a) Technical Consultancy
b) Employee Cost
c) Interest and Finance Cost
d) Traveling and Conveyance
e) Exchange Rate Fluctuation
f) Transportation Charges
g) Miscellaneous

viii) Impairment of Assets: The Holding Company had incurred an aggregate sum of 7838.15 crores (Previous Year 7901.66
Expansion Project Assets, and reflected under Capital Work-in-progress (CWIP). The expenditure includes cost
of an imported plant purchased, civil work carried out and pre-operative expenses (including interest capitalised)
as shown in Note 11 (vii) above. However, later on in the year 2005, due to several adversities, the project was
suspended. At the year end, based on the assessment of the recoverable amount (net selling price) of the said
suspended Project and civil works reflected under CWIP carried out by M/s Shinde Engineering Services, project
consultants, the aggregate provision for impairment of 2490.08 crores (Previous Year 1983.01 crores), including
507.07 crores (Previous Year 1326.32 crores) for the year, is recognised as required under Accounting Standard
28 on "Impairment of Assets".

Note 11 for Fixed Assets- Balance Sheet for Financial Year 2012-2013
Gross Block
Note 11: Fixed Asset [Refer note i]
Tangible Fixed Assets
Freehold land
Leasehold land
Refer Note (ii)
Buildings and Jetty
[Refer Note (iii)]

As at April 2012

Additions

239.08
239.08
21.45
21.45
6004.78
5,939.97

81.12
64.81

Plant and equipments

[Refer Note(iv),(v)]
Furniture and Fixtures
Vehicles
[Refer Note (vi)]
Office equipments
Railway siding,
weighbridge, rolling
stock and locomotive

45427.13
45,606.76
1145.13
1,168.37
1311.67
1,322.41
433.94
705.88

466.34
179.22
26.7
6.08
321.27
140.58
140.79
61.16

281.56
281.56
54864.74
55,285.48

1036.22
451.85

Current Year
Previous year
Intangible Fixed Assets
Goodwill
95.27
Computer softwares
96.82
2.21
Current Year
192.09
2.21
Previous year
232.34
Capital work in progress
Tangible Capital WIP
[Refer Note (vii),(viii)]
Current Year
8,384.30
471.37
Previous year
8,296.93
153.64
Intangible Capital WIP
Computer softwares
Current Year
69.75
Previous year
Notes:
i) Gross Block includes 4345.89 crores, added on revaluation of the Holding Company's land, buildings, plant and
machinery situated at Ranavav in order to reflect a realistic position of the net replacement cost of such assets, on
the basis of valuation made by an external valuer, which had resulted in a net increase of 5722.61 crores, as at June
30, 1993.
ii) Besides the land specified above, the Holding Company holds other leasehold land in respect of which only groundrent is p
iii) Buildings excludes cost of shares held in a Co-operative Society included under Note 12 of Non-current Investments.
iv) Plant and equipments include cost of service line of 33.20 crores (Previous Year 33.20 crores), ownership of which is
v) Plant and equipments include cost of assets of 206.69 crores (Previous Year 206.69 crores), acquired under hire
vi) Vehicles include assets financed under hire purchase agreements.

vii) Accounting of Fixed Assets and Borrowing Costs

Capital work-in-progress includes pre-operative expenses, as under:
a. Technical Consultancy
b. Employee Cost
c. Interest and Finance Cost

d. Traveling and Conveyance

e. Exchange Rate Fluctuation
f. Transportation Charges
g. Miscellaneous

viii) Impairment of Assets: The Holding Company had incurred an aggregate sum of 7901.66 crores (Previous Year 8036.81
Expansion Project Assets, and reflected under Capital Work-in-progress (CWIP). The expenditure includes cost of an
imported plant purchased, civil work carried out and pre-operative expenses (including interest capitalised) as shown
in Note 11 (vii) above. However, later on in the year 2005, due to several adversities, the project was suspended.
At the year end, based on the assessment of the recoverable amount (net selling price) of the said suspended
Project and civil works reflected under CWIP carried out by M/s Shinde Engineering Services, project consultants,
updated from earlier assessment carried out by Holtec Consulting Private Limited as at March 31, 2011 a provision
for impairment of 1983.01 crores, including 1326.32 crores, (Previous Year Nil), was recognised as required under
Accounting Standard 28 on "Impairment of Assets".
Note 11 for Fixed Assets- Balance Sheet for Financial Year 2011-2012
Gross Block

Note 11: Fixed Asset [Refer note i]

Tangible Fixed Assets
Freehold land
Leasehold land
Buildings
Plant and equipments
Furniture and Fixtures
Vehicles
Office equipments
Railway siding,
weighbridge, rolling
stock and locomotive
Current Year
Previous year
Intangible Fixed Assets
Goodwill
Computer softwares
Current Year
Previous year
Capital work in progress
Current Year
Previous year

As at April 1 2011

Additions

2,650.53
21.45
3,528.52
45,606.75
1,168.37
1,322.41
705.88

64.81
179.22
6.08
140.58
61.16

281.55
55,285.46
55,019.90

451.85
446.63

95.27
137.07
232.34
131.5

5.57

8,296.92
8,277.34

153.64
31.98

Notes:
i) Gross Block includes 4602 crores, added on revaluation of the Holding Companys land, buildings, plant and machinery
situated at Ranavav in order to reflect a realistic position of the net replacement cost of such assets, on the basis of
valuation made by an external valuer, which had resulted in a net increase of 5722.61 crores, as at June 30, 1993.

i) Gross Block includes 4602 crores, added on revaluation of the Holding Companys land, buildings, plant and machinery
situated at Ranavav in order to reflect a realistic position of the net replacement cost of such assets, on the basis of
valuation made by an external valuer, which had resulted in a net increase of 5722.61 crores, as at June 30, 1993.
ii) Besides the land specified above, the Holding Company holds other leasehold land in respect of which only ground
iii) Buildings excludes cost of shares held in a Co-operative Society included under note 12 of non-current investments
iv) Plant and equipments include cost of service line of 33.20 crores (previous year 33.20 crores), ownership of which is
vested with Paschim Gujarat Vij Holding Company Limited.
v) Plant and equipments include cost of assets of 206.69 crores (Previous year 206.69 crores), acquired under hire
purchase agreements.
vi) Vehicles includes equipment and vehicles financed under hire purchase agreements.
vii) During the year ended March 31, 2012, certain assets which were old and not in use, having gross book value of
548.75 crores (Net book value 57.99 crores) and shown as assets discarded, were retired and are included under the
head deductions / adjustments above.
viii) During the year ended March 31, 2012, while adopting the Revised Schedule VI formats, computer softwares having
a gross book value of 137.07 crores were transferred from plant and equipments, and included under the head
deductions / adjustments above and shown as intangible assets.

ix) Accounting Of fixed assets and borrowing costs

Capital work-in-progress includes pre-operative expenses, as under:
a) Technical consultancy
b) Employee cost
c) Interest and finance cost
d) Traveling and conveyance
e) Exchange rate fluctuation
f) Transportation charges
g) Miscellaneous

Notes for Income Statement FY ending

2012, 2013, 2014
For the
Year ended
March 31, 2012
21 REVENUE FROM OPERATIONS
Sale of Products:
Manufactured Goods
Traded Goods
Total

45,859.85
1,598.82
47,458.67

Sale of Services:
Other Operating Revenues:
Sale of Power
Sale of Other Products / Scrap
Export Entitlements
Less: Excise Duty
Total

135.93
361.84
173.82
149.95
-4,282.49
43,997.72

Details of Products Sold

Sale of Manufactured Goods:
Cement
Clinker
Sale of Traded Goods
Cement
Clinker

45,814.37
45.49
45,859.86
1,239.78
359.04
1,598.82

22 OTHER INCOME
Interest Income on:
Fixed Deposits with Banks
Fixed deposits with a State Financial Corporation
Others

Dividends Income from Long-term Investments others

Rent Income
Miscellaneous Income (including overheads shared)
Insurance Claims
Profit on Sale of Fixed Assets
Bad Debts Recovered
Provision for Doubtful Debts no longer required
Excess Provision Written Back
Trade Payables Written Back

52.01
Nil
17.41
69.42

0.3
Nil
46.46
81.42
57.5
4.53
18.71
168.79
80.45
527.58

23 COST OF MATERIALS CONSUMED

Raw Materials
Opening Stock of Raw Materials
Add: Purchases
Less: Closing Stock of Raw Materials
Total

335.63
1,956.06
-410.87
1,880.82

Packing Materials:
Opening Stock of Packing Materials
Add: Purchases
Less: Closing Stock of Packing Materials

Details of Raw Materials Consumed :

Gypsum
Fly Ash
Clinker Purchased
Iron Ore
Others

192.72
1,163.85
-74.26
1,282.31
3,163.13

621.52
631.18
210.94
156.64
260.54
1,880.82

24 PURCHASES OF STOCK-IN-TRADE
Purchases of Traded Goods:
Cement
Clinker, Coal and Pet Coke

1,239.78
370.56
1610.34

25 CHANGES IN INVENTORIES OF FINISHED

GOODS, WORK-INPROGRESS
AND STOCK-IN-TRADE
Stocks at the end:
Finished Goods - Cement
Work-in-progress - Raw Flour and Clinker

Less: Stocks at the Beginning

Finished Goods - Cement
Work-in-progress - Raw Flour and Clinker
Stock-in-trade - Cement

Increase / (Decrease) in Excise Duty on Stocks

874.41
673.24
1,547.65

1,125.16
643.51
30.89
1,799.56
251.91
-1.12
250.79

26 EMPLOYEE BENEFITS EXPENSE

(Refer note to Note 28)
Salaries, Wages and Bonus
Contribution to Provident and other Funds
Gratuity Expense
Staff Welfare Expenses

2,140.51
204.01
87.98
58.7

2,491.20

27 FINANCE COSTS
Interest expense:
On Borrowings
On Others (including on rent arrears 628.52
crores
based (Previous Year NIL) on the Supreme Court
order)
Other Borrowing Costs

3,309.67

1,139.21
21.02
4,469.90

28 OTHER EXPENSES
Stores and Spare Parts Consumed
Power and Fuel
Rent
Repairs and Maintenance:
Buildings, etc.
Machinery
Others
Insurance
Rates and Taxes
Raw Material Handling Charges [Refer Note (a)
below]
Limestone / Marl Raising Charges [Refer Note (a)
below]
Royalty and Cess [Refer Note (a) below]
Advertisement, Business Promotional and Service
Charges
Freight and Handling Expenses
Commission
Directors' Fees
Charity and Donation
Traveling and Conveyance
Legal and Professional Charges
Net Loss on Foreign Currency Transactions and
Translation
(other than considered as Finance Cost)
Auditor's Remuneration:
Audit Fees
Tax Audit Fees
For Other Services - Certification Work
Reimbursement of Expenses
Provision for Doubtful Debts:

3,111.62
15,928.37
230.49
67.89
1,341.88
254.05
133.65
33.45
334.98
752.19
798.53
511.97
7,006.27
460.55
12.2
1
186.44
221.39

87.99
7.36
2.65
2.85
0.47

Bad Debts Written Off

Less: Provision for Doubtful Debts Written Back
Loss on Sale of Assets
Assets Discarded / Written Off
Miscellaneous Expenses
Cost of Cement Self Consumed [Refer Note (b)
below]
Notes:
a) Employee Benefit Expenses (Note 26) and Other
Expenses (Note 28) include expenses incurred on
cost of
raising and transporting limestone / marl, which are
part of the raw materials, details of which are as
under:
Salaries, Wages and Bonus
Stores and Spare Parts Consumed
Repairs and Maintenance to Machinery
Raw Material Handling Charges
Limestone / Marl Raising Charges
Royalty and Cess

80.09
-80.09
40.43
57.99
805.3
-6.17
32,385.79

54.69
195.46
20.33
206.69
752.19
789.09
2,018.45

b) Cost of cement self consumed also includes

other non material raw materials costs and
depreciation.

29) EXCEPTIONAL GAIN / (LOSS)

Write Backs on One Time Settlement (OTS) with
Government of
Gujarat (GoG)
Interest Income on GSFS Deposit
Interest Write Back on Long Term Debt

Nil
Nil
Nil

30) In view of the carried forward losses and

unabsorbed depreciation available the Holding
Company is not liable to
tax as per the normal provisions of the Income-tax
Act, 1961. Further, since the Holding Company is
registered
under BIFR, though the net worth of the Holding
Company is positive as at March 31, 2013, as per
the provisions of
Minimum Alternate Tax under Section 115JB of the
Income-tax Act, 1961, the Holding Company is not
liable for tax
for the year in which its net worth has turned
positive.

40) Earnings Per Share

Weighted average number of equity shares of Rs 10
each
Net Profit / (Loss) for the year
Less: Dividend payable to OCCPS holders
Net Profit / (Loss) available to equity shareholders
Basic and diluted earnings per share (in rupees)

51,191,065
-2,048.58
-89.39
-2,137.97
-4.18

Gross Block

Depreciation, Amortisation and Impairment

Up to March
31, 2013
For the year

Deductions/Adjustments

As at March 31, 2014

1,036.95
480.22
31.85
6.26
198.8
152.22
6.43
29.82

239.08
239.08
21.45
21.45
6,111.61
6,085.90
44,795.33
45,413.25
1,184.90
1,165.57
1,459.07
1,480.72
566.44
544.91

3,365.47
3,100.07
29,297.63
28,051.85
666.95
614.92
735.23
714.52
264.53
253.04

238.06
265.4
1,632.25
1,714.08
51.09
56.18
93.51
83.53
43.81
38.17

1,274.03
668.52

281.56
281.56
54,659.44
55,232.44

266.96
264.58
34,596.77
32,998.98

1.52
2,060.24
2,159.74
2,409.67

95.27
238.71
333.98
194.3

ion of the Holding

av in order to reflect a
e by an external valuer,

495.8
514.56

69.75
-

95.27
65.89
161.16
149.34

8,399.59
8,341.11

69.75

1,983.01
656.69

39.42
39.42
11.82

507.07
1,326.32

hich the Holding

of Non-current

20 crores), ownership of which

rores), acquired under lease

As at
March 31,
2014 crores

320.4
144.56
3,104.18
227.48
42.43
19.96
59.97

15 crores (Previous Year 7901.66 crores) towards

diture includes cost
ng interest capitalised)
ties, the project was
ng price) of the said
ring Services, project
983.01 crores), including
der Accounting Standard

Gross Block
Deductions/Adjustments

As at March 31, 2013

239.08
239.08
21.45
21.45
6085.9
6004.78

Depreciation, Amortisation and Impairment

Up to March
31, 2012
For the year
3100.07
2799.11

265.4
300.96

480.22
358.85
6.26
29.32
152.22
151.31
29.82
333.11

45413.25
45427.13
1165.57
1145.13
1480.72
1311.68
544.91
433.93

28051.85
26425.53
614.92
591.18
714.52
685.96
253.04
533.45

1714.08
1,925.27
56.18
52.18
83.53
96.01
38.17
28.41

668.52
872.59

281.56
281.56
55232.44
54864.74

264.58
257.74
32998.98
31,292.92

2.38
6.84
2159.75
2,409.67

40.25

95.27
99.03
194.3
192.09

514.56
66.27

95.27
54.07
149.34
173.62

8,341.11
8,384.30

69.75
-

656.69
656.69 -

nd, buildings, plant and

t cost of such assets, on
5722.61 crores, as at June

pect of which only groundrent is paid.

of Non-current Investments.
20 crores), ownership of which is
rores), acquired under hire

As at
March 31, 2013
in crores

320.4
144.56
3,104.18

As at
March 31,
2012
in crores

320.4
144.56
3,104.18

11.82
11.82
13.96

1,326.32

227.48
42.43
19.96
59.97
3,918.98

227.48
42.43
19.96
59.97
3,918.98

66 crores (Previous Year 8036.81 crores) towards

diture includes cost of an
erest capitalised) as shown
roject was suspended.
the said suspended
es, project consultants,
rch 31, 2011 a provision
ecognised as required under

Gross Block

Depreciation, Amortisation and Impairment

Up to March
31, 2011
For the year

Deductions/Adjustments

As at March 31, 2012

358.85
29.32
151.31
333.11

2,650.53
21.45
3,593.33
45,427.12
1,145.13
1,311.68
433.93

1,692.51
1,106.60
26,425.53
591.18
685.96
533.45

199.12
101.84
1,925.27
52.18
96.01
28.41

872.59
186.64

281.55
54,864.72
55,285.46

257.74
31,292.97
28,783.70

6.84
2,409.67
2,624.32

40.25
40.25
-

95.28
96.82
192.09
137.07

92.89
80.73
173.62
75.37

2.38
11.58
13.96
14.89

buildings, plant and machinery

ch assets, on the basis of
ores, as at June 30, 1993.

66.27
12.4

8,384.29
8,296.92

656.69
656.69

buildings, plant and machinery

ch assets, on the basis of
ores, as at June 30, 1993.
pect of which only ground
of non-current investments
0 crores), ownership of which is

rores), acquired under hire

aving gross book value of

and are included under the

s, computer softwares having

cluded under the head
As at March
31, 2012 in
crores

320.4
144.56
3,104.17
227.48
42.43
19.96
59.97
3,918.97

For the
Year ended
March 31, 2013

56,082.97
2,939.66
59,022.63

For the
Year ended
March 31, 2014

53,983.80
4,057.34
58,041.14

241.9

Nil

333.34
241.21
118.42
-5,924.55
54,032.95

128.22
181.02
194.31
5,408.47
53,136.22

55,230.74
852.23
56,082.97

50,609.15
3,374.65
53,983.80

2,939.66
Nil
2,939.66

2,356.70
1,700.64
4,057.34

139.51

168.02

215.63
15.65
370.79

108.44
10.13
286.59

0.31
Nil

22.92
24

56.6
241.92
63.17
4.3

52.54
6.95
Nil
Nil

0.58
204.79
85.44
1,027.90

6.28
83.01
27.2
509.49

410.87
2,644.62
-1,138.36
1,917.13

1,138.36
1,922.45
1,023.81
2,037.00

74.26
1,651.31
-147.06
1,578.51
3,495.64

147.06
1,650.92
149.63
1,648.35
3,685.35

647.52
796.61
Nil
255.62
217.38
1,917.13

635.35
457.04
235.09
580.05
129.47
2,037.00

2,939.66
Nil
2939.66

2,343.08
1,640.74
3,983.82

698.58
861.09
1,559.67

866.99
466.07
1,333.06

874.41
673.24
Nil
1,547.65
-12.02
11.31
-0.71

698.58
861.09
Nil
1,559.67
226.61
81.18
307.79

2,350.21
220.34
142.39
105.9

2,695.88
152.36
69.19
85.89

2,818.84

3,003.32

2,116.47

1,322.06

1,216.54
5.26
3,338.27

312.55
2.36
1,636.97

3,433.68
15,082.55
528.26

3,730.59
15,321.92
236.86

229.68
1,377.03
355.49
120.99
31.76

267.01
1,838.31
495.38
118.28
346.56

386.67

565.78

665.71
897.45

747.61
964.57

1,308.28
6,928.30
700.56
12.6
1
190.11
228.16

1,543.05
7,461.36
732.71
15.8
28.92
180.63
304.31

124.03

98.76

7.33
2.65
5.3
0.3

7.33
2.65
3.95
Nil

19.64

Nil

-19.64
42.32
0.67
917.7

Nil
240.45
181.44
923.87

-24.18
33,565.46

-23
36,349.59

90.63
228.86
24.36
227.1
665.25
887.39
2,123.59

80
275.38
123.78
435.21
747.61
829.53
2,491.51

12,007.27
2,693.18
1,414.84

Nil
Nil
Nil

51,191,065
18,371.73
89.39

51,191,065
2,089.80
89.39

18,282.34

2,000.41

35.71

3.91

ation, Amortisation and Impairment

Net Block

Deductions/ Adjustments

Upto March 31,

2014

As at March
31, 2014

As at March
31, 2013

619.77
468.3
17.84
4.15
94.34
62.82
4.97
26.68

3,603.53
3,365.47
30,310.11
29,297.63
700.2
666.95
734.4
735.23
303.37
264.53

239.08
239.08
21.45
21.45
2,508.08
2,720.43
14,485.22
16,115.62
484.7
498.62
724.67
745.49
263.07
280.38

239.08
239.08
21.45
21.45
2,720.43
2,904.71
16,115.62
17,375.28
498.62
530.2
745.49
597.14
280.38
180.87

736.92
561.95

268.48
266.96
35,920.09
34,596.77

13.08
14.6
18,739.35
20,635.67

14.6
16.98
20,635.67
-

95.27
105.31
200.58
161.16

133.4
133.4
33.14

2,490.08
1,983.01

5,909.51
6,358.10

69.75

33.14

6,358.10

69.75
-

As at
March 31, 2013 crores

320.4
144.56
3,104.18
227.48
42.43
19.96
59.97

ation, Amortisation and Impairment

Deductions/ Adjustments

Upto March 31,

2013

3365.47
3,100.07

Net Block
As at March
31, 2013
239.08
239.08
21.45
21.45
2720.43
2,904.71

As at March
31, 2012
239.08
239.08
21.45
21.45
2904.71
3,140.86

468.3
298.95
4.15
28.43
62.82
67.43
26.68
308.8

29297.63
28,051.85
666.95
614.93
735.23
714.54
264.53
253.06

16115.62
17,375.28
498.62
530.2
745.49
597.14
280.37
180.87

17375.28
19,181.23
530.21
577.19
597.15
636.45
180.9
172.43

561.95
703.61

266.96
264.58
34596.78
32,998.98

14.6
16.98
20635.66
21,865.71

16.98
23.82
21,865.71
-

38.24

95.27
65.89
161.16
149.34

33.14
33.14
42.75

42.75
42.75

1,983.01
656.69

6,358.10
7,727.61

69.75
-

7,727.61

ation, Amortisation and Impairment

Net Block

Deductions/ Adjustments

Upto March 31,

2012

As at March
31, 2012

As at March
31, 2011

298.95
28.43
67.42
308.8

1,891.63
1,208.44
28,051.85
614.93
714.54
253.06

758.9
21.45
2,384.89
17,375.27
530.2
597.14
180.87

958.02
21.45
2,421.92
19,181.22
577.19
636.45
172.43

703.6
120.42

264.58
32,999.03
31,292.97

16.97
21,865.69
23,992.49

23.81
23,992 .49
21.96

38.24
38.24
-

95.27
54.07
149.34
80.73

42.75
42.75
56.34

2.38
56.34
58.72

656.69
656.69

7,727.60
7,640.23

7,640.23
-

As at
March 31, 2011 in crores

320.4
144.56
3,104.17
227.48
42.43
19.96
59.97
3,918.97

Cost of Goods Manufactured

For the
Year ended
March 31, 2012

For the
Year ended
March 31,
2013

For the
Year ended
March 31, 2014

Direct Material:
Opening Stock of Raw Materials

335.63

410.87

1,138.36

1,956.06
-410.87
1,880.82

2,644.62
-1,138.36
1,917.13

1,922.45
1,023.81
2,037.00

2,491.20

2,818.84

3,003.32

3,111.62
15,928.37

3,433.68
15,082.55

3,730.59
15,321.92

Packing Material
Rent
Repairs and Maintenance:

1,282.31
230.49

1,578.51
528.26

1,648.35
236.86

Buildings, etc.
Machinery
Others
Insurance
Rates and Taxes
Raw Material Handling Charges [Refer Note
(a) below]
Limestone / Marl Raising Charges [Refer Note
(a) below]
Freight and Handling Expenses
Commission
Directors' Fees
Total

67.89
1,341.88
254.05
133.65
33.45

229.68
1,377.03
355.49
120.99
31.76

267.01
1,838.31
495.38
118.28
346.56

334.98

386.67

565.78

752.19
7,006.27
460.55
12.2
30,949.90

665.71
6,928.30
700.56
12.6
31,431.79

747.61
7,461.36
732.71
15.8
33,526.52

Total Manufacturing Cost

35,321.92

36,167.76

38,566.84

Add WIP beginning

643.51

673.24

861.09

Total
Deduct WIP Ending

35,965.43
673.24

36,841.00
861.09

39,427.93
466.07

Add: Purchases
Less: Closing Stock of Raw Materials
Total

Direct Labor:

Employee Expense

Manufacturing Overhead:
Stores and Spare Parts Consumed
Power and Fuel

Cost of Goods Manufactured

35,292.19

35,979.91

38,961.86

Schedule of Cost of Goods Sold

For the
Year ended
March 31, 2012

Finished Goods , April 1 (Beginning)

Stock in trade , April 1 (Beginning)

For the
Year ended
March 31, 2013

1,125.16
30.89

874.41
0

Add: Cost of Goods Manufactured

Add: Purchase of Stock in trade
Cost of Goods available for sale
Finished Goods inventory, March 31 (Closing)
Stock in trade inventory, March 31 (Closing)

35,292.19
1610.34
38,058.58
874.41
0.00

35,979.91
2939.66
39,793.98
698.58
0

Sum(COGS and Stock in trade purchased)

37,184.17

39,095.40

Total Stock in trade purchsed

Total Cost of Goods sold

1,641.23
35,542.94

2,939.66
36,155.74

Contribution Income Statement

For the
Year ended
March 31, 2014

698.58
0
38,961.86
3,983.82
43,644.26
866.99
0.00

42,777.27
3,983.82
38,793.45

For the
Year ended
March 31, 2012

Net Sales Revenue

Less: Variable COGS & Operating
Expenses
Direct Materials Used
Indirect Materials Used
Direct Labor costs
Power & Fuel

43,997.73

Stock in trade items sold

Raw Material Handling Charges
Limestone / Marl Raising Charges
Freight and Handling Expenses
Total

1,641.23
334.98
752.19
7,006.27
34,468.25

1,892.59
4421.4
2,491.20
15,928.37

Contribution Margin

9,529.48

Less: Fixed COGS & Operating Expenses

Directors' Fees
Insurance
Buildings, etc.
Machinery

12.2
133.65
67.89
1,341.88

Other maintenance Expenses

254.05

Depreciation and amortization expense

Rent
Total

2,423.63
230.49
4463.79

Operating Income
Non Operating income
Less: Non Operating expenses
Finance Cost
Advertisement, Business Promotional
and Service Charges
Expenses on Foreign Currency
Transactions and Translation
Royalty and Cess

5,065.69
527.58
21.02
511.97
87.99
798.53

Auditor Remuneration
Legal and Professional Charges
Charity and Donation
Traveling and Conveyance
Loss on sale of assets
Assets Discarded / Written Off
Commission
Miscellaneous Expenses
Total Non Operating Expenses
Net Non Operating income
EBIT
Less Interest expense

13.33
221.39
1
186.44
40.43
57.99
460.55
805.3
3,205.94
-2,678.36
2,387.33
4,448.88

EBT
Current and Deferred Tax

-2,061.55
0

Net Income
Exceptional Gain (Refer note 29)
Net income modified

-2,061.55
0
-2,061.55

on Income Statement

CVP Analysis

For the
Year ended
March 31, 2013

54,032.95

For the
Year ended
March 31, 2014

53,136.22

1,916.49
5010.5
2,818.84
15,082.55

2,048.97
5410.5
3,003.32
15,321.92

2,939.66
386.67
665.71
6,928.30
35,748.75

3,983.82
565.78
747.61
7,461.36
38,543.32

18,284.20

14,592.90

12.6
120.99
229.68
1,377.03

15.8
118.28
267.01
1,838.31

355.49

495.38

3,497.89
528.26
6121.94

2,606.73
236.86
5578.37

12,162.26
1,027.90

9,014.53
509.49

5.26

2.36

1,308.28

1,543.05

124.03
897.45

98.76
964.57

Break Even point(in INR)

Contribution Margin Ratio
Operating Income Ratio
Margin of Safety
Degree of Operating Leverage

COGM Analysis

COGM (assume 100)

Raw Material Used
Direct Labor
Manufacturing Overhead
Depriciation/Amortization on
assets

15.58
228.16
1
190.11
42.32
0.67
700.56
917.7
4,431.12
-3,403.22

13.93
304.31
28.92
180.63
240.45
181.44
732.71
923.87
5,215.00
-4,705.51

8,759.04
3,333.01

4,309.02
1,634.61

5,426.03
3,204.68

2,674.41
538.68

2,221.35
16,115.29
18,336.64

2,135.73
0
2,135.73

CVP Analysis
For the
For the
For the
Year ended Year ended Year ended
March 31, March 31, March 31,
2012
2013
2014

20609.38 18091.38 20312.18

0.21659 0.33839 0.274632
0.115135 0.22509 0.169649
0.531581 0.665179 0.617734
1.881182 1.503355 1.61882

COGM Analysis
For the
For the
For the
Year ended Year ended Year ended
March 31, March 31, March 31,
2012
2013
2014

100
100
100
5.324795 5.30066 5.281739
7.052844 7.793792 7.787312
87.62236 86.90555 86.93095
6.861547 9.671293 6.758993

Management Efficiency
Return On Equity (%)
Return On Assets (%)
Return On Capital Employed (%)
Fixed Assets Turnover

Profitability & Growth

Gross Profit Margin (%)
Operating Profit Margin (%)
Net Profit Margin (%)

Financial Strength
Liquidity
Quick Ratio
Current Ratio
Cash Ratio

Solvency
Debt Equity Ratio

Coverage Ratios
Cash Flows to Long Term Debt

Saurashtra
Cements Ltd
Peer Average
12.61
8.68
5.23

4.22

29.05
2.19

9.24
1.01

Saurashtra
Cements Ltd
6.1
10.96
3.85

Financial Strength
Saurashtra
Cements Ltd
0.45
0.74
0.2

Saurashtra
Cements Ltd
0.27

Peer Average
8.11
13.33
-5.16

Peer Average
1.94
2.44
0.45

Peer Average
0.56

Saurashtra
Cements Ltd
Peer Average
0.94
5.67