Beruflich Dokumente
Kultur Dokumente
Raghvendra singh
M.COM (Final)
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DECLARATION BY THE STUDENT
Raghvendra Singh
M.Com (Previous)
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CERTIFICATE
Date of submission:-
TEACHER GUIDE
Anita Deshbhratar
Assistant Prof.
[Commerce department]
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INDEX
Chapter 1: Introduction
Chapter 2: Objectives & Methodology
Need for the study
Scope for the study
Objectives of the study
Research Methodology
Limitations of study
Chapter 6: Bibliography
Chapter 7: Annexure
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CHAPTER 1
INTRODUCTION
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FINANCIALANALYSIS
3. To estimate and evaluate the fixed assets, stock etc., of the concern.
4. To estimate and determine the possibilities of future growth of
business.
5. To assess and evaluate the firm’s capacity and ability to repay short
and long term loans.
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Parties interested in financial analysis:
The users of financial analysis can be divided into two broad groups.
Internal users:
1. Financial executives
2. Top management
External users:
1. Investors
2. Creditor.
3. Workers
4. Customers
5. Government
6. Public
7. Researchers
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Significance of financial analysis
Financial analysis serves the following purpose:
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METHODS OF ANALYSIS:
A financial analyst can adopt the following tools for analysis of the
financial statements. These are also termed as methods of financial
analysis.
A. Comparative statement analysis
B. Common-size statement analysis
C. Trend analysis
D. Funds flow analysis
E. Ratio analysis
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STANDARDS OF COMPARISON
The ratio analysis involves comparison for an useful interpretation of
the financial statements. A single ratio in itself does not indicate
favorable or unfavorable condition. It should be compared with some
standard. Standards of comparison are:
1. Past Ratios
2. Competitor's Ratios
3. Industry Ratios.
4. Projected Ratios
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TIME SERIES ANALYSIS
The easiest way to evaluate the performance of a firm is to compare its
present ratios with past ratios. When financial ratios over a period of
time are compared, it is known as the time series analysis or trend
analysis. It gives an indication of the direction of change and reflects
whether the firm's financial performance
has improved, deteriorated or remind constant over time.
CROSS SECTIONAL ANALYSIS
Another way to comparison is to compare ratios of one firm with some
selected firms in the industry at the same point in time. This kind of
comparison is known as the cross-sectional analysis. It is more useful to
compare the firm's ratios with ratios of a few carefully selected
competitors, who have similar operations.
INDUSTRY ANALYSIS
To determine the financial conditions and performance of a firm. Its
ratio may be compared with average ratios of the industry of which the
firm is a member. This type of analysis is known as industry analysis
and also it helps to ascertain the financial standing and capability of the
firm & other firms in the industry. Industry ratios are important
standards in view of the fact that each industry has its characteristics
which influence the financial and operating relationships.
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TYPES OF RATIOS
Management is interested in evaluating every aspect of firm's
performance. In view of the requirement of the various users of ratios,
we may classify them into following four important categories:
1. Liquidity Ratio
2. Leverage Ratio
3. Activity Ratio
4. Profitability Ratio
Liquidity Ratio
It is essential for a firm to be able to meet its obligations as they become
due. Liquidity Ratios help in establishing a relationship between cast and
other current assets to current obligations to provide a quick measure of
liquidity. A firm should ensure that it does not suffer from lack of
liquidity and also that it does not have excess liquidity. A very high
degree of liquidity is also bad, idle assets earn nothing. The firm's funds
will be unnecessarily tied up in current assets. Therefore it is necessary
to strike a proper balance between high liquidity. Liquidity ratios
can be divided into three types:
Current Ratio
Quick Ratio
Cash Ratio
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Current Ratio
Current ratio is an acceptable measure of firm’s short-term solvency
Current assets includes cash within a year, such as marketable securities,
debtors and inventors. Prepaid expenses are also included in current
assets as they represent the payments that will not made by the firm in
future. All obligations maturing within a year are included in current
liabilities. These include creditors, bills payable, accrued expenses,
short-term bank loan, income-tax liability in the current year. The
current ratio is a measure of the firm's short term solvency. It indicated
the availability of current assets in rupees for every one rupee of current
liability. A current ratio of 2:1 is considered satisfactory. The higher the
current ratio, the greater the margin of safety; the larger the amount
of current assets in relation to current liabilities, the more the firm's
ability to meet its obligations. It is a cured -and-quick measure of
the firm's liquidity. Current ratio is calculated by dividing current assets
and current liabilities.
Quick Ratio
Quick Ratio establishes a relationship between quick or liquid assets
and current liabilities. An asset is liquid if it can be converted into cash
immediately or reasonably soon without a loss of value. Cash is the most
liquid asset, other assets that are considered to be relatively liquid asset
and included in quick assets are debtors and bills receivables and
marketable securities (temporary quoted investments).
Inventories are converted to be liquid. Inventories normally require
some time for realizing in to cash; their value also has a tendency to
fluctuate. The quick ratio is found out by dividing quick assets by
current liabilities. Generally, a quick ratio of 1:1 is considered to
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represent a satisfactory current financial condition. Quick ratio is a more
penetrating test of liquidity than the current ratio, yet it should be used
cautiously. A company with a high value of quick ratio can suffer from
the shortage of funds if it has slow- paying, doubtful and long duration
outstanding debtors. A low quick ratio may really be prospering and
paying its current obligation in time.
Cash Ratio
Cash is the most liquid asset; a financial analyst may examine Cash
Ratio and its equivalent current liabilities. Cash and Bank balances and
short-term marketable securities are the most liquid assets of a firm,
financial analyst stays look at cash ratio. Trade investment is marketable
securities of equivalent of cash. If the company carries a small amount
of cash, there is nothing to be worried about the lack of cash if the
company has reserves borrowing power. Cash Ratio is perhaps the most
stringent Measure of liquidity. Indeed, one can argue that it is overly
stringent. Lack of immediate cash may not matter if the firm stretch its
payments or borrow money at short notice.
LEVERAGE RATIOS
Financial leverage refers to the use of debt finance while debt capital is
a cheaper source of finance: it is also a riskier source of finance. It helps
in assessing the risk arising from the use of debt capital. Two types of
ratios are commonly used to analyze financial leverage.
1. Structural Ratios
2. Coverage ratios
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Structural Ratios are based on the proportions of debt and equity in the
financial structure of firm. Coverage Ratios shows the relationship
between Debt Servicing, Commitments and the sources for meeting
these burdens. The short-term creditors like bankers and suppliers of raw
material are more concerned with the firm's current debt-paying ability.
On the other hand, long-term creditors like debenture holders, financial
institutions are more concerned with the firm's long-term financial
strength. To judge the long-term financial position of firm, financial
leverage ratios are calculated. These ratios indicated mix of
funds provided by owners and lenders. There should be an appropriate
mix of Debt and owner's equity in financing the firm's assets.
The process of magnifying the shareholder's return through the use of
Debt is called "financial leverage" or "financial gearing" or "trading on
equity". Leverage Ratios are calculated to measure the financial risk and
the firm's ability of using Debt to share holder's advantage. Leverage
Ratios can be divided into five types.
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long-term and equity consists of net worth plus preference capital plus
Deferred Tax Liability.
Debt ratio
Several debt ratios may used to analyze the long-term solvency of a
firm. The firm may be interested in knowing the proportion of the
interest-bearing debt in the capital structure. It may, therefore, compute
debt ratio by dividing total total-debt by capital employed on net assets.
Total debt will include short and long-term borrowings from financial
institutions, debentures/bonds, deferred payment arrangements for
buying equipments, bank borrowings, public deposits and any other
interest-bearing loan. Capital employed will include total debt net worth.
The interest coverage ratio or the time interest earned is used to test the
firms’ debt servicing capacity. The interest coverage ratio is computed
by dividing earnings before interest and taxes by interest charges. The
interest coverage ratio shows the number of times the interest charges
are covered by funds that are ordinarily available for their payment. We
can calculate the interest average ratio as
earnings before depreciation, interest and taxes divided by interest.
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Proprietary ratio
The total shareholder's fund is compared with the total tangible assets of
the company. This ratio indicates the general financial strength of
concern. It is a test of the soundness of financial structure of the concern.
The ratio is of great significance to creditors since it enables them to find
out the proportion of share holders funds in the total investment of
business.
ACTIVITY RATIOS
Turnover ratios also referred to as activity ratios or asset management
ratios, measure how efficiently the assets are employed by a firm. These
ratios are based on the relationship between the level of activity,
represented by sales or cost of goods sold and levels of various assets.
The improvement turnover ratios are inventory turnover, average
collection period, receivable turn over, fixed assets turnover and total
assets turnover. Activity ratios are employed to evaluate the efficiency
with which the firm manages and utilize its assets. These ratios are also
called turnover ratios because they indicate the speed with which assets
are being converted or turned over into sales. Activity ratios thus involve
a relationship between sales and assets.
A proper balance between sales and assets generally reflects that asset ut
ilization.
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Activity ratios are divided into four types:
Total capital turnover ratio
Working capital turnover ratio
Fixed assets turnover ratio
Stock turnover ratio
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computing the fixed assets turnover may render comparison of firm's
performance over period or with other firms.
The ratio is supposed to measure the efficiency with which fixed assets
employed a high ratio indicates a high degree of efficiency in asset
utilization and a low ratio reflects inefficient use of assets. However, in
interpreting this ratio, one caution should be borne in mind, when the
fixed assets of firm are old and substantially depreciated the fixed assets
turnover ratio tends to be high because the denominator of ratio is very
low.
PROFITABILITY RATIOS
A company should earn profits to survive and grow over a long period
of time. Profits are essential but it would be wrong to assume that every
action initiated by management of a company should be aimed at
maximizing profits. Profit is the difference between revenues and
expenses over a period .Profit is the ultimate 'output' of a company and
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it will have no future if it fails to make sufficient profits. The
financial manager should continuously evaluate the
efficiency of company in terms of profits. The profitability ratios are
calculated to measure the operating efficiency of company. Creditors
want to get interest and repayment of principal regularly. Owners want
to get a required rate of return on their investment. Generally, two major
types of profitability ratios are calculated:
•Profitability in relation to sales
•Profitability in relation to investment
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margin is a sign of good management. A gross margin ratio may
increase due to any of following factors: higher sales prices
cost of goods sold remaining constant, lower cost of
goods sold, sales prices remaining constant. A low gross profit margin
may reflect higher cost of goods sold due to firm's inability to purchase
raw materials at favorable terms, inefficient utilization of plant and
machinery resulting in higher cost of production or due to fall
in prices in market. This ratio shows the margin left after meeting
manufacturing costs. It measures the efficiency of production as well as
pricing. To analyze the factors underlying the variation in gross profit
margin,the proportion of various elements of cost (Labor, materials and
manufacturing overheads) to sale may studied in detail.
This ratio expresses the relationship between operating profit and sales.
It is worked out by dividing operating profit by net sales. With the help
of this ratio, one can judge the managerial efficiency which may not be
reflected in the net profit ratio.
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position to survive in the face of falling
selling prices, rising costs of production or declining demand for product
This ratio shows the earning left for share holders as a percentage of net
sales. It measures overall efficiency of production, administration,
selling, financing. Pricing and tax management. Jointly considered, the
gross and net profit margin ratios provide a valuable understanding of
the cost and profit structure of the firm and enable the analyst to identify
the sources of business efficiency / inefficiency.
Return on investment:
This is one of the most important profitability ratios. It indicates the
relation of net profit with capital employed in business. Net profit for
calculating return of investment will mean the net profit before interest,
tax, and dividend. Capital employed means long term funds.
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affected by a number of factors such as external uncontrollable factors,
internal factors. This ratio is computed by dividing operating expenses
by sales. Operating expenses equal cost of goods sold plus selling
expenses and general administrative expenses by sales.
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CHAPTER 2
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NEED OF THE STUDY
The study enables us to have access to various facts of the organization.
It helps in understanding the needs for the importance and advantage of
materials in the organization, the study also helps to exposure our minds
to the integrated materials management the
various procedures, methods and technique adopted by the organization.
The study provides knowledge about how the theoretical aspects are put
in the organization.
OBJECTIVES OF STUDY
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LIMITATIONS
•The ratio is calculated from past financial statements and these are not
indicators of future.
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Research Methodology:
Research is designed as a systematic, gathering recording and
analysis of data about problem relating to any particular field.
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CHAPTER 3
COMPANY PROFILE
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Introduction of company
Wipro Limited (Wipro), together with its subsidiaries and associates
(collectively, the company or the group) is a leading India based
provider of IT Services and Products, including Business Process
Outsourcing (BPO) Services, globally. Further, Wipro has other
business such as India and Asia IT Services and products and
Consumer Care and Lighting. Wipro is headquartered in Bangalore,
India. Wipro Technologies is a global services provider delivering
technology-driven business solutions that meet the strategic
objectives clients. Wipro has 40+ ‘Centers of Excellence’ that
create solutions around specific needs of industries. Wipro
delivers unmatched business value to customers through a
combination of process excellence, quality frame works and service
delivery innovation. Wipro is the Wo rld's first CMM Level 5
certified software Services Company and the first outside USA to
receive the IEEE Software Process Award. Wipro is a $3.5 billion
Global company in Information Technology Services, R&D Servi ces,
Bu si ness pro cess o u t so u rci ng. Team Wi pro i s 7 5 ,0 0 0
St ro ng fro m 4 0 nat i o nal i t i es and gro wi ng. Wi pro i s present
acro ss 2 9 co u nt ri es, 3 6 Devel o pment centers, Investors across
24 countries.
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Among the top 3 Indian BPO Service provider by Revenue (*
Nasscom)
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Group Companies
Wipro Infrastructure Engineering Ltd
Wipro Inc.
Wipro Japan KK
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History
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C o mp a n y p r o fil e
B us ine s s D e s c ript io n
Wi pr o Li mi t ed i s t he f i r st P C MM Level 5 and SE I
C M M L e v e l 5 c e r t i f i e d IT Servi ces Co mpany gl o bal l y.
Wi pro pro vi des co mprehensi ve IT so l u t i o ns and services,
including systems integration, Information Systems outsourcing,
package implementation, software application development and
maintenance, and research and development services to corporations
globally. The Gro u p' s pri nci pal act i vi t y i s t o o ffer
i nfo rmat i o n t echno l o gy servi ces. The services include
integrated business, technology and process solutions including
systems integration, package implementation, software application
development and maintenance and transaction processing. These
services also comprise of information technology consulting,
personal computing and enterprise products, information
technology infrastructure management and systems integration
services. The Group also offers products related to personal care,
baby care and wellness products. The operations of the Group are
conducted in India, the United States of America and Ot her
co u nt ri es. Du ri ng fi scal 2 0 0 7 , t he Gro u p acqu i red Wi pro
Cypru s P vt Lt d, Retailbox By, Enabler Informatics SA, Enabler
France SAS, Enabler Uk Ltd, Enabler Brazil Ltd, Enabler and Retail
Consult GmbH, Cmango Inc, Cmango (India) Pvt Ltd,Saraware Oy,
Quantech Global Services and Hydroauto Group.
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Global IT Services and Products
Customized IT solutions
Wi pro pro vi des i t s cl i ent s cu st o mi zed IT so l u t i o ns i n t he
areas o f ent erpri se IT services, technology infrastructure
support services, and research and development services. The
Company provides a range of enterprise solutions primarily to
Fortune1 0 0 0 and Gl o bal 5 0 0 co mpani es. It s servi ces ext end
fro m ent erpri se appl i cat i o n services to e-Business solutions.
Its enterprise solutions have served clients from arrange of
industries, including energy and utilities, finance, telecom, and
media and entertainment. The enterprise solutions division accounted
for 63% of its IT Services and Products revenues for the fiscal 2007.
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Technology Infrastructure Service
Wi pr o offers techno lo gy infrastru ctu re su ppo rt
s e r v i c e s , s u c h a s h e l p d e s k m a n a g e m e n t , s ys t e m s
management and mi gratio n, netwo rk management and
messaging services. The Company provides its IT Services and Products
clients with around-the-clock support services. The technology
infrastructure support services division accounted for 11% of
Wipro's IT Services and Products revenues in fiscal 2007.
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services to telecommunications service providers, Internet service
providers, application service providers and Internet data centers.
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Wipro's system integration services
Incl u de i nt egrat i o n o f co mpu t i ng pl at fo rms, net wo rks,
st o rage, dat a cent er and enterprise management software.
These services are typically bundled with sales of the Company's
technology products. Wipro's infrastructure management and
totalo u t s o u r c i n g s e r v i c e s i n c l u d e m a n a g e m e n t a n d
o p e r a t i o n s o f c u s t o m e r ' s IT infrastructure on a day-to-day
basis. The Company's technology support servicesinclude
upgrades, system migrations, messaging, network audits and new
system implementation. Wipro designs, develops and implements
enterprise applications for c o r p o r a t e cu sto mers. The
C o m p a n y' s so lu tio ns inclu de cu sto m
a p p l i c a t i o n devel o pment , package i mpl ement at i o n,
su st enance o f ent erpri se appl i cat i o ns, including industry-specific
applications, and enterprise application integration. Wiproa l s o
pro vides co nsu lting services in the areas o f bu siness
c o n t i n u i t y a n d r i s k management, technology, process and
strategy.
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Sanjeevani line of wellness products.The Company's product line
includes incandescent light bulbs, compact fluorescent l a m p s
a n d l u m i n a r i e s . It o p e r a t e s b o t h i n c o m m e r c i a l a n d
retail markets. T h e Co mpany has al s o devel o ped
co mmerci al l i ght i ng so l u t i o ns fo r
pharmaceu t i cal production centers, retail stores, software
development centers and other industries.Its product line consists
of hydrogenated cooking oils, a cooking medium used inhomes,
and bulk consumption points like bakeries and restaurants. It sells this
productunder the brand name Wipro Sunflower.
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Board of Directors
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Auditors
KPMG
Audit committee
N Vaghul – Chairman
P M Sinha - Member
B C Prabhakar – Member
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CHAPTER 4
DATA ANALYSIS AND INTERPRETATION
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Liquidity Ratio
It measures the ability of the firm to meet its short-term obligations, that is capacity of the firm to
pay its current liabilities as and when they fall due. Thus these ratios reflect the short-term
financial solvency of a firm. A firm should ensure that it does not suffer from lack of liquidity.
The failure to meet obligations on due time may result in bad credit image, loss of creditors
confidence, and even in legal proceedings against the firm on the other hand very high degree of
liquidity is also not desirable since it would imply that funds are idle and earn nothing. So
therefore it is necessary to strike a proper balance between liquidity and lack of liquidity.
The various ratios that explains about the liquidity of the firm are
1. Current Ratio
2. Acid Test Ratio / quick ratio
3. Absolute liquid ration / cash ratio
1. CURRENT RATIO
The current ratio measures the short-term solvency of the firm. It establishes the relationship
between current assets and current liabilities. It is calculated by dividing current assets by
current liabilities.
Current Liabilities
Current assets include cash and bank balances, marketable securities, inventory, and debtors,
excluding provisions for bad debts and doubtful debtors, bills receivables and prepaid expenses.
Current liabilities includes sundry creditors, bills payable, short- term loans, income-tax
liability, accrued expenses and dividends payable.
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Interpretation
Current ratio is always 2:1 it means the current assets two time of current
liability.
Company is nowhere near the ideal ratio in every year but every company
cannot achieve this ratio.
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Current ratio is increased in 2007-08 as compared to 2003-04 because of
increase in Inventories 100.96% and 123.77 % increased in Cash and Bank
balance.
It has been an important indicator of the firm’s liquidity position and is used as a complementary
ratio to the current ratio. It establishes the relationship between quick assets and current
liabilities. It is calculated by dividing quick assets by the current liabilities.
Current liabilities
Quick assets are those current assets, which can be converted into cash immediately or within
reasonable short time without a loss of value. These include cash and bank balances, sundry
debtors, bill’s receivables and short-term marketable securities.
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Interpretation
Standard Ratio is 1:1
Company’s Quick Assets is more than Quick Liabilities for all these 5 years.
S o all the years has q uic k ratio exc eed ing 1, the firm is in
p o s itio n to meet its immediate obligation in all the years.
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In 2005-06 q uic k ratio is d ec reas ed b ec aus e the inc reas e in
q uic k as s ets is les s proportionate to the increased quick liabilities.
The Quick ratio was at its peak in 2007-08, while was lowest in the 2004-05.
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Networking Captial
Networking capital = Current Assets – Current Liabilities
Interpretation
This ratio represents that part of the long term funds represented
by the net wo rth and lo ng term d eb t, whic h are
p ermanently b lo c ked in the c urrent assets.
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PROFITABILITY RATIO
The profitability ratio of the firm can be measured by calculating various
profitability ratios. General two groups of profitability ratios are
calculated.
a. Profitability in relation to sales.
b. Profitability in relation to investments.
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GROSS PROFIT MARGIN OR RATIO
It measures the relationship between gross profit and sales. It is
calculated by dividing gross profit by sales. It is a useful indication of
the profitability of business. This ratio is usually expressed
as percentage. The ratio shows whether the mark-up obtained on
cost of production is sufficient however it must cover its operating
expenses.
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Interpretation
GP Ratio shows how much efficient company is in Production.
Gross sales and services are increasing year by year so in effect Gross profit
ratio is increasing year by year up to 2007.
OPERATING RATIO
This ratio shows the relation between Cost of Goods Sold + Operating
Expenses and Net Sales. It shows the efficiency of the company in
managing the operating costs base with respect to Sales. The higher
the ratio, the less will be the margin available to proprietors.
Net sales
Operating expenses includes cost of goods produced/sold, general and
administrative expenses, selling and distributive expenses.
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Interpretation
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NET PROFIT MARGIN OR RATIO
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Interpretation
Return on Investment
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Interpretation
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Rate of Return on Equity
R ate o f R eturn o n Eq uity s ho ws what p erc entage o f p ro fit is
earned o n the c ap ital invested by ordinary share holders.
Interpretation
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As a result the share holders are getting higher return every year
and investment portfolio scheme selection was a judicious decision taken
by the company.
This happens because Profit and Share Capital both increasing same way.
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TOTAL ASSETS TURNOVER
This ratio shows the firm’s ability to generate sales from all financial
resources committed to total assets. It is calculated by dividing sales by
total assets.
Interpretation
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In the year 2005 -06 ratio is inc reas ed b ec aus e o f c o mp any’ s
to tal as s ets is increased by 24.52%, but sales is increased by 29.92%.So
the ratio is increased but in c urrent year it is d ec reas ed b ec aus e
s ale inc reas ing b y 41. 45% and As s ets increasing by 49.28%.
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trad ing and is dangerous.
Interpretaton
Here the ratio of Net Fixed Asset Turnover is continuously
increasing up to 2006and after that it has strated decline.Because sales as
well as assets boths are equally increase.
Net F ixed As s ets T urno ver R atio is inc reas ing year b y year
b ec aus e o f S ale is increasing continuously.
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It indicates that the company maximizes the use of its fixed assets to earn
profit inthe business so that whatever amount is invested by
company in fixed asset, gives maximum productivity which helps to
increase sales as well as profit.
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Inventory Turnover Ratio
Inventory Turnover Ratio: The no. of times the average stock is turned over during
the year is known as stock turnover ratio.
Interpretation
F r o m t h e a b o v e c a lc u la t io n w e c a n s a y t h a t t h e r a t io is
d e c r e a s in g . I t m e n s inventory is not spdly convert in to sales. So that
it is bad for the company.
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But in 2006 onward ratio is decreasing because of increase in COGS. So
companyshould devise a systematic operational plan for inventory control.
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Interpretation
Deb to r turno ver ind ic ates ho w q uic kly the c o mp any c an c o llec t
its c red it s ales revenue.
Here the ratio is continuously decreasing, so that the company’s collection of credit
sales is efficient management is improved its collection period every
year so its hows that the management have an ability to collect its money from
his debtors. So they can invest that money on Assets, HRD and other investments.
SOLVENCY RATIO
The solvency or leverage ratios throws light on the long term solvency
of a firm reflecting it’s ability to assure the long term creditors with
regard to periodic payment of interest during the period and loan
repayment of principal on maturity or in predetermined instalments at
due dates. There are thus two aspects of the long-term solvency of a
firm.
Debt Ratio
Debt-Equity Ratio
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Debt Ratio
Debt ratio indicates the long term debt out of the total capital employed
Interpretation
In 2007-08 the ratio is increased as compared to the previous year because the total
loan funds are increased by 661.56%.
In 2005-06 Company has issued equity Share and also loan is decreased.
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Debt-Equity Ratio
This ratio is only another form proprietary ratio and establishes
relation between theo u t si de l o ng t erm l i abi l i t i es and o wner
fu nds. It sho ws t he pro po rt i o n o f l o ng t erm external equity &
internal Equities.
Interpretation
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Interest Coverage Ratio
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Interpretation
After observing the figure it shows that the ratio has mix trend up
to 2006.
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CHAPTER 5
FINDINGS AND SUGGESTIONS
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FINDINGS
Al l t h e ye a r s h a s q u i c k r a t i o e x c e e d i n g 1 , t h e
f i r m i s i n p o s i t i o n t o m e e t i t s immediate obligation in
all the years.
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SUGGESTION
The co mpan y’ s f u t u r e pl ans f o r expansi o n seem
c l e a r d u e t o i n c r e a s e d i nvest me nt i n F i xed Asset s
.E ffi ci ent u se o f t hese Asset s has enabl ed t he company
to observe an increased profit.
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CONCLUSION
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CHAPTER6
BIBLIOGRAPHY
Books:
Websites
http://www.wipro.com
http://www.bseindia.com//shareholding/shareholding_new.asp
http://www.cmie.com//indutries//gdp.asp
http://www.wipro.com/investors/annual_reports.htm
http://www.wipro.com/investors/pdf_files/AR07_08_first_book_final.pdf
http://www.wipro.com/investors/pdf_files/AR07_08_second_book_final.pdf
http://www.wipro.com/investors/pdf_files/Wipro_AR_2006_07_Part_1.pdf
http://www.wipro.com/investors/pdf_files/Wipro_AR_2006_07_Part_2.pdf
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