Beruflich Dokumente
Kultur Dokumente
AKSHAY SRIVASTAVA
As the working capital refers to the administration of all the analysis of working
capital, ratios and sources and application of funds and the company by
studying, interpreting various financial statements using various techniques
such as comparative statements analysis, funds flow statement analysis etc.
Even efforts have been made to collect the relevant information about the topic.
The present study about WORKING CAPITAL MANAGEMENT in HAL
Accessories Division, Lucknow it based on my six week project study in
FINANCE AND ACCOUNT DEPARTMENT in HAL.
This training gives me an opportunity to make a study and analysis the system
adopted by the organization. It enables me to build the practical knowledge
acquired during the class study with practical training received during my
project.
a) Introduction of topic.
b) Objective of the study.
c) Scope & importance.
d) Company profile.
e) Literature review.
f) Research Methodology.
g) Data Analysis & Interpretation.
h) Findings.
i) Suggestions.
j) Limitations.
k) Conclusions.
This project has given me the opportunity to get aware with the HAL, its
environment and functioning of the Finance & Accounts Department. This
project report is divided into three different parts.
First part of the includes information about the organization like vision and
mission of HAL, its values, financial position, achievements, product line etc is
given.
The second part of the report focused on the whole Finance & Accounts
Department. This includes objectives & functioning of the various sections of
Finance & Accounts Department of the Accessories Division of HAL
Last part of the report focuses on the budgetary system. This includes detailed
analysis of working capital, ratios and sources and application of funds and the
company by studying, interpreting various financial statements using various
techniques such as comparative statements analysis, funds flow statement
analysis etc.
This training as per scheduled under syllabi has been emphasis on getting aware
with the practical environment of an organization and specifically with the
concerned department related to the specialization. There are certain objectives
stated as under:
1. To get aware with the procedure of financial department.
2. To know how the functions passes through other departments in relation to
financial departments.
3. To become familiar with the formats of different documents and their
meaning.
4. To know each departments decision effect on finance department and vice-
versa.
5. To know organizational structure and specifically financial department.
Keeping the magnitude of the work in mind the scope of the study has
been determined. It covers the outset, a description of the role played by the
corporation in improving financial strength of organization. The study has
emphasized working capital and its application in different enterprises.
HAL has played a significant role for India's space programs by participating in
the manufacture of structures for Satellite Launch Vehicles like
∗ PSLV (Polar Satellite Launch Vehicle)
∗ GSLV (Geo-synchronous Satellite Launch Vehicle)
∗ IRS (Indian Remote Satellite)I
∗ NSAT (Indian National Satellite)
HAL has formed the following Joint Ventures (JVs) :
∗ BAeHAL Software Limited
∗ Indo-Russian Aviation Limited (IRAL)
∗ Snecma HAL Aerospace Pvt. Ltd.
∗ SAMTEL HAL Display System Limited
∗ HALBIT Avionics Pvt. Ltd.
∗ HAL-Edgewood Technologies Pvt. Ltd.
∗ NFOTECH HAL Ltd
Apart from these seven, other major diversification projects are Industrial
Marine Gas Turbine and Airport Services. Several Co-production and Joint
Ventures with international participation are under consideration.
HAL's supplies / services are mainly to Indian Defence Services, Coast Guards
and Border Security Forces. Transport Aircraft and Helicopters have also been
supplied to Airlines as well as State Governments of India. The Company has
also achieved a foothold in export in more than 30 countries, having
demonstrated its quality and price competitiveness.
∗ HAL has won several International & National Awards for achievements
in R&D, Technology, Managerial Performance, Exports, Energy
Conservation, Quality and Fulfillment of Social Responsibilities.
∗ At the National level, HAL won the "GOLD TROPHY" for excellence
in Public Sector Management, instituted by the Standing Conference of
Public Enterprises (SCOPE).
MiG-21
VARIANTS
Single-seater Front line Tactical Interceptor/
Fighter Aircraft.
UNDERCARRIAGE
The Division has facilities and expertise in the
manufacture and overhaul of Undercarriages of
both MiG-27M and MiG-21 variants. The landing
gears are of a conventional tricycle type and
consist of one steerable Nose wheel leg and two
Main wheel legs to roll the aircraft in motion, on
the ground, during take-off run and landing run. The Landing Gear legs have
Pneumatic shock absorbers.
EJECTION-SEAT
The Ejection Seat is installed to provide safe
escape to the Pilot from the Aircraft while
catapuling is effected with the help of a
combined Ejection Gun. The Division has the
facilities and expertise in the manufacture and
overhaul of ejection seats for both MiG-27M and
MiG-21 variants.
CANOPY
The Division manufactures and overhauls
canopies of MiG-21 variants and MiG-27M
Aircraft.
AEROSPACE FASTENERS
The Division has a separate complex for manufacturing of Aerospace Fasteners,
approximately 7000 types under 400 different standards. Some of the typical
items are nuts, bolts, screws, washers, and rivets of various configurations,
studs, dowels, pins, plugs, JO Bolts, pipe connections and springs.
AIRCRAFT WESTERN ORIGIN
JAGUAR INTERNATIONAL
HAL commenced production of Jaguar
International - deep penetration strike and
battlefield tactical Support Aircraft in 1979 under
license from British Aerospace, including the
engine, accessories and avionics. Jaguar aircraft is
designed with 7 hard points ( 4 under wing, 2 over
CHETAK
CHEETAH
The Helicopter Division manufactures the versatile
and multi-purpose Cheetah Helicopters for Civil and
Military applications both for Domestic and
International customers.
LANCER
The Lancer Helicopter is a light attack helicopter developed by Hindustan
Aeronautics Limited as a cost-effective airmobile area weapon system. The
2.6.2 VALUES
∗ CUSTOMER SATISFACTION
• EJECTION SYSTEM
Ejection Seats, Release Units etc.
• Supply of Rotables and Spares of Jaguar International and Cheetah (Lama) / Chetak
(Alouette) Helicopters
• Repair / Overhaul of aircraft accessories of MiG series Aircraft, Jaguar International Aircraft,
Cheetah (Lama) / Chetak (Alouette) Helicopters and Dornier Multi-role Aircraft
• Supply of Ground Support Equipment for Aircraft such as MiG-23 / 27 / 29, Mirage-2000,
Jaguar, Light Combat Aircraft (LCA) Su-30 MKI, Sea Harrier, Dornier DO-228, Avro HS-
748 (Specific Version), Cheetah (Lama) / Chetak (Alouette lll), Ml - 17, Advanced Light
Helicopter (ALH).
SERVICES
The Division carries out Repair and Overhaul of Accessories, with minimum turn-around-time.
Site Repair facilities are offered by the Division by deputing team of expert Engineers /
Technicians.
Military Aircraft
• MiG Series
• Jaguar
• Mirage-2000
• Sea - Harrier
• AN-32
Civil Aircraft
• Dornier-22B
• AVRO HS-748
Helicopters
• Chetak (Alouette)
• Cheetah (Lama)
• ALH (IAF / NAVY / COAST GUARD / CIVIL)
Sub-contract Capabilities
• The Division has comprehensive manufacturing capabilities for various Hi-tech components,
Equipment and Systems to customer's specifications and ensures
high quality, reliability and cost effectiveness.
• The Division has over 25 years of experience in producing aeronautical accessories making it
an ideal partner for the International Aero Engineering Industry.
FUTURE PLANS
HAL have perspective plan to have minimum growth of 400% (in respect of
turnover , PBT, value added and other financial parameters) up to 2016-2017
over current year and minimum turnover from non-defense customers is to
be 40%of total turnover(currently 4.43%) by 2016-2017.
HAL is manufacturing organization and its main customer is Indian Air Force,
which HAL various orders for manufacturing, repairs and overhauls, design and
development etc and provides 90% amount of ordering in advance and rest 10%
after receiving the complete order. So in this way HAL realizes 90% ordering
amount before start of the order and only 10% of the amount is blocked.
Therefore need of working capital in case of HAL is not much high in respect to
the other manufacturing organization. The organization has its corporate office
in Bangalore; all the financial activities are controlled from the head office.
Since it is a major manufacturing company of the government therefore no
investment policy is being followed by its Lucknow Division. The head office
controls all the financial policies of different divisions.
The finance and accounts department occupies a very important position in any organization
as it has a role to play in almost the activities right from conceptualization of a project till its
successful implementation for smooth running and thereafter.
• Bills Payable
– Inland Bills
– Foreign Bills
– Services And Civil Works
• Finance
• Payroll
• Cash Office
• Bills Receivable
• Cost Accounts
• Material Accounts
• Book Keeping
OBJECTIVES
• To regulate the payments to suppliers and service providers as per the terms and
conditions of the Purchase order/Agreement.
• To ensure that he payment to different parties are made promptly so that supplies and
services to the divisions maintained uninterruptedly in furthering the objects of the
Organization.
• To ensure that proper accounting is done as per the requirement of statute/standing
instructions from the H .O.
• To ensure that all statutory deductions e.g. T.D.S. etc, are made from the Bills of
suppliers / services providers and Deposited timely with the appropriate authority.
FUNCTIONS
FLOW OF WORK
1. All the purchase received is first entered in P.O. register before putting the same in
separate file.
2. If the P.O. stipulate for payment of Advance to vendor , an Advance payment is given
3. .After receipt of the goods, suppliers invoice duly linked with relevant R.D.R. are
received from the Purchase Department which are scrutinized with reference to
relevant Purchase order and then passed for payment after making adjustments for
Advance Payments already made. Remittance vouchers are prepared based on the
passed invoices and are forwarded to cash section for issuance of cheque.
FUNCTIONS
FLOW OF WORK
1. All Purchase orders / contracts received are entered in the registers before opening of
separate file for each P.O.
FUNCTIONS
FLOW OF WORK
1. Advances to contractors are given as per the acceptance letter given to the contractors
which are recovered with the interest by way of deduction from on account payment
bills in suitable percentage in relation to the progress of work so as to recover all
sums advanced by the time 80% of the contract is completed.
OBJECTIVES
FUNCTIONS
• To scrutinize and give financial concurrence as per delegation of power for each
proposal involving :
– Capital expenditure
– Revenue expenditure
– Purchase of materials/ stores / tools and other services
– Manpower requirement
– Waiver of dues / write off of losses
– Cases involving relaxation of rules etc.as per delegation of powers.
– Sale, lease, alienation or disposal of company’s asset.
OBJECTIVES
FUNCTIONS
• Remittance of Recoveries
• Accounting procedures
Monthly payroll journal entry is made both for supervisory and non-supervisory
personnel and sent to the book keeping section for adoption.
For payment made to persons from other divisions, proper accounting is done to
ensure that necessary advice is raised to the concerned division.
CASH SECTION
OBJECTIVES
• To ensure timely and accurate receipts and payments of cash and cheques.
• To ensure accounting of cash/ bank transactions is done as per the statute/ corporate
office guidelines.
• To ensure safe custody of cash, cheque books, bank guarantees, deposit receipts etc.
FUNCTIONS
• All amounts collected by different sections either from employees or from external
agencies is sent to the Cash Office through Cash Credit Vouchers.
• Cash received in excess of the requirement, cheques, bank drafts, postal orders are
deposited into the company’s Bank account the same day for realization
• .Payment to the employees such as medical reimbursement, TA / DA advance, Misc.
advance etc. are made through payment vouchers which are punched into the
computer through online system. The cash office in turn after proper identification
makes the payment through cash teller.
• For payment to outside parties cheques are made on the basis of remittance voucher
sent by different section. These cheques are handed over to the Purchase department
for taking necessary action / sent to central registry for dispatch to the concerned
party.
• Entries are made every day on the basis of Cash Credit vouchers and remittance
voucher and the cash balance is arrived at which is certified by the In-charge of cash
office.
• Based on the analysis of the payment and receipt transactions computerized monthly
Journal Voucher is prepared and send to the Book Keeping section for the adoption.
• Preparation of the monthly Bank Reconciliation statements and the liaisoning with the
bank authorities to check any discrepancy.
• Periodical physical verification of cash is done by systems audit representatives and
by the internal auditors on the last day of the financial year.
OBJECTIVES
• To ensure that dues from the customers in respect of Goods supplied and services
rendered are recovered timely as per the Fixed Price Quotation / Price Catalogue
approved by the Ministry in accordance with the Government letter issued by the
Ministry of defense dated 24th Aug., 1995.
• To ensure that invoices in respect of advances, stage payment, final deliveries are
raised timely in order to have smooth cash flow position.
• To ensure that proper accounting is done as per the requirement of statute and
accounting instructions laid down by the corporate office.
• To ensure that all statutory payments e.g. Sales Tax, Excise Duty, Custom duty is
received from the customer and is deposited timely with the appropriate authority.
FUNCTIONS
OBJECTIVES
• To establish a costing system in line with the activities and product range of the
division.
• To determine the price releasable from the customer for the products manufactured /
repaired / overhauled / serviced / supplied by the division.
FUNCTIONS
• To determine the rate of absorption / recovery of the labour and other overheads for
recovering labour cost on the different jobs undertaken i.e. Man-Hour rate
computation.
• To accumulate the labour and overheads content of each activity Project-wise based
on the evaluated L.T.B. generated by E.D.P. from the Work Orders / Time Dockets.
• To keep track of different jobs completed and jobs lying incompetent in different
stages over a reasonable period of time and to co-ordinate with the concerned
Production Controllers for justification for jobs lying unfinished beyond a reasonable
period of time and to ensure their early disposition
OBJECTIVES
• To ensure that all the receipts and issues of materials from stores are recorded and
accounted for properly.
• To ensure that all non-moving / slow moving materials are identified as “surplus” by
the I.M.M. and a suitable redundancy provision is made against them and are
disposed off.
• To ensure that Bin Card balances are reconciled with the Material Ledger balances in
co-ordination with I.M.M. and the balances of material ledger tallies with the General
Ledger.
FUNCTIONS
• To send the priced R.D.R. received from the Bills Payable section to E.D.P. for
punching in the Batch Mode and thus all the receipts are recorded and control is
exercised over all the purchase value-wise.
• To generate exception list the missing R.D.R. and getting it resolved with Bills
Payable section.
• All the materials drawn excess when returned are credited to stores through Stores
Returned voucher.
• The E.D.P. after processing of all M.R. / Issue Voucher prints the material Issue
analysis statements monthly indicated :-
– The cost of material drawn against various job Orders, Expense accounts;
– The cost of material issued to contractors and others;
– The cost of tools issued to various tool cribs from Main Tool Stores;
• On the basis of list of materials / transfers reclassification indicating the material code
NO. / Quantity and value, necessary Journal entries are passed by debit / credit to
relevant inventory account.
• On the basis of stock verification sheet indicating stock verification no. material code
no. , shortages / overages , necessary Journal entries are passed after obtaining
clarification from stores department by debit / credit to stock adjustment account and
credit / debit to relevant inventory account after taking approval of C.F.A. wherever
required for adjustment / write-off of stores.
• A list of material not moved for over 5 years is given by E.D.P. which is received by
stores / concerned programming department materials not required for production or
for other purposes are identified and suitable section is taken by I.M.M. for finding
their usage in other divisions or is auctioned.
• Redundancy provisions is made in he books of accounts at the rate of 100% for non
moving inventory and for closed projects as special provisions on th basis of list given
by E.D.P. Further a normal provision at 1.5% is made on the balance inventory.
OBJECTIVES
• To compile the accounts of the company are prepared as per the requirement of the
statute / corporate office guidelines.
• To assess the performance of the company in the financial terms such as sales,
debtors, profit, value of production, value-added etc.
• To furnish data/ information in respect of Income Tax Assessment done at corporate
office.
• To get the accounts of the company audited by the internal, statutory and government
auditors as prescribed by law.
FUNCTIONS
• Journal entries originated by the various sections of the Finance and Account
Department are sent to the book keeping section. These entries are serially numbered
and punched into the computer and thereby posted to the general ledger.
• Preparation of the trial Balance, Profit & Loss account and Balance Sheet. Accounts
are computerized and are drawn for every quarter as on 30th June, 30th Sept, 31st
December, and final accounts as on 31st March of each financial year.
• Maintenance of Fixed Asset register and depreciation schedule.
i. For all capital items purchases, RDR are furnished by the bills payable section
like details of assets like building etc capitalized are also furnished by civil works
section to the book keeping section. The maintenance of Asset Ledger is
computerized in which the details like date of purchase, nature of items, P.O. no.
location of asset etc are recorded.
BUDGET SECTION
OBJECTIVES
FUNCTION
• To ensure that capital facility is made available in time to meet the production
requirement. The proposal are classified under three categories i.e. plant and
machinery, civil works and others.
• Presenting estimates and expenditure in terms of function, programs activities and
project with their financial and physical aspects closely interwoven.
OBJECTIVES
FUNCTIONS
• To issue the leave cards for the Calendar Year to all the employees / officers of the
division.
OBJECTIVES
• To ensure timely collection of Provident fund money recovered from members every
month by the employer.
• To invest the provident fund accumulations improved securities as stipulated by
statute.
• To make payment of loans to members as per the rules/ guidelines/ bye-laws.
• To prepare Income and Expenditure account and Balance Sheet of the Fund and
getting the same duly audited and approved by Trustees.
• To file the returns of Provident fund to RPFC.
FUNCTIONS
Functioning of the Finance & Account Department is divided into two parts:-
1. Personal Section
2. Official Section
PERSONAL
TIME SECTION
PAYROLL SECTION
CASH OFFICE
OFFICIAL
(File Approval)
IMM
(Commercial Deptt.)
PURCHASE DEPTT.
(Purchase Order)
BILLS PAYABLE
(Accounting Process)
BOOK KEEPING
(Book Entry)
BILLS RECEIVABLE
(Sales)
In Official section there are eight departments. First of all in Budget Department budget is
made for different Projects according to the order received. After that in Finance Section
scrutinizing function is performed this has a major role to play in capital and revenue
expenditure decision in regard to purchase of material / stores / tools and other services. Then
IMM gives the final approval and issues the purchase order. On the basis of this purchase
order Bills Payment department do the payment to the suppliers of raw material, machinery
and tools etc. when the raw material is transformed into the finished goods then the Costing
& Material account do the costing of it to find the final cost of the finished product. This data
is stored in the Book Keeping Section to know the financial position of the organization.
When these finished products are sold to the customers Bills Receivable section receive the
amount from customers. At last on the basis of outflows and inflows financial position of the
organization, profit and Loss of the organization is counted.
The gross working capital refers to the firm’s investment in all the current
assets taken together. The total of investments in all the individual current assets
is the gross working capital.
Net working capital:
Thus both concepts of working capital i.e. the gross working capital &
the net working capital have their own relevance & a Financial Manager
should give due attention to both of these. The cash inflows & outflows for
Temporary
After computing the period of one operating cycle, the total number of
operating cycles that can be computed during a year can be computed by
dividing 365 days with number of operating days in a cycle. The total
expenditure in the year when year when divided by the number of operating
Meaning of Research:-
According to Redman & Mory:
“Research as a systematized effort to gains new knowledge”.
RESEARCH DESIGN:-
Research Design is a conceptual structure with research conducted.
There is no unique method, which can entirely eliminate the elements of under
taking. But Research methodology more than any other procedure can minimize
The present study is based upon primary and secondary data. The
sources of primary data are the official records and discussion with the officers
in the finance dept. of the organization. The secondary sources of the data
include various publications of the organization and annual reports and audited
financial statements. The data, which are presented in this report, have been
taken from secondary sources. The data of Hindustan Aeronautics Limited,
Accessories Division, Lucknow, for the year 2008-09 and 2009-10 used in these
report have been taken from financial statements i.e., the Profit & Loss
Account, Balance Sheet for the relevant years.
∗ Primary data: Was collected through the discussion with the concerned
executives.
∗ Secondary data: Was collected through the official records, various
publications of the organization, annual report and audited financial
statements.
INTERPRETATION
By analyzing the statements, it is observed that 0.013, 0.004 of current
assets were held as cash in hand and cash at bank during the years 2008-2009
2009-2010 respectively. The cash management in HAL is centralized and
managed by the corporate office.
On the basis of yearly budgets and performance of the division, the
corporate office has fixed certain measures for smooth running of the
business. They are:
∗ Fixing the drawl limits: After analysis of budget and forecast given by the
division, the corporate office has fixed drawl limit not exceeding 12 crores
per month. This ceiling does not include drawing the salaries and wage of
the staff
∗ Fixing the letter of credit: the limit for opening the fore cast irrevocable
letter of credit is up to Rs 12 crores. If any urgency arises prior approval of
the corporate office it may go beyond the limit.
By fixing these types of limits, the corporate office is in position to
monitor its divisions, fund requirements and collections. By this process
divisions are not in a position to withhold/block cash at their disposal because
the net balance has to be transferred to the central account at the corporate
TABLE – 2
CALCULATION OF PERCENTAGE OF ACCOUNTS RECEIVABLE TO
THE CURRENT ASSETS (IN LAKHS)
INTERPRETATION
INTERPRETATION
From the above table we can analyze that:
∗ The Average Collection Period (ACP) for the year 2008-09 & 2009-10 are
16 days and 38 days.
TABLE – 4
CALCULATION OF PERCENTAGE OF INVENTORY TO CURRENT
ASSETS (IN LAKHS)
PARTICULARS 2008-09 2009-10
(A/B*100)
INTERPRETATION
The holding of inventory is 13-62% of current assets. This percentage has
been substantially increased from 2008-09 onwards but decreased in 2009-
10. The main cause for the accumulation of inventory is to maintain
sufficient space/raw materials to meet the emergency like war. Maximum
material of HAL, Lucknow Division is imported from Russia, there for it is
possible to decrease cost of transportation & also large-scale order will
enable HAL to bargain for cost. The main cause for the accumulation of
inventory is to maintain sufficient space/raw materials to meet the
emergency like war to safeguard the system & depositing/utilizing the non-
moving/slow moving items.
∗ The percentages of inventory to the current assets are 62.28 and 58.98 in
the year 2008-09 and 2009-10 respectively.
∗ In 2008-09 the percentages of 62.28% of current assets were occupied by
inventory where as the percentage has gone down.
∗ The present system of procurement by HAL in just-in –time & no
enterprise is willing to block its funds in terms of inventory as it is a
sleeping investment.
∗ At present the inventory held is huge as compared to the standard norms.
A 05-10 70-80
B 15-20 15-20
C 70-80 05-10
TABLE – 5
INTERPRETATION:
There is significance increases in raw material conversion period. The reason
is most of the raw materials are produced from Russia. They are ordered in
bulk and hence at the closing of the period stock of raw material more. As
bulk orders will reduce the most of procuring division orders large amounts at
a time. Increase in raw materials does not affect the raw material conversion
period seriously.
∗ Raw material conversion period is263 days in 2008-09, 226 days in 2009-
10.
∗ The raw material conversion period is very high during 2008-09 as
compared to 2009-10.
∗ Therefore, from the above discussion it is cleared that the raw material
level does not affect the raw material conversion period.
∗ The raw material conversion period for the year 2008-09 is 263 days. This
was so high because of manufacturing of a new product the Engine SU –
30.
INTERPRETATION
WIP conversion period are 89 days and 147 days in 2008-09 and 2009-10
respectively.
∗ The company has shown an efficient management labour force & efficient
utilization of materials by maintaining a less work in progress conversion
period in year 2008-09 as compared to2009-10.
∗ Further to improve , it has to reduce the work in progress conversion
period though aviation industry requires much time in work in progress,
still constant vigil over reducing work in progress is appreciable.
∗ Due to manufacturing of the new product SU – 30 the work in progress
conversion has consumed more time in the 2009-10 i.e.147 days as
compared to 2008-09.
TABLE – 7
TABLE – 8
CALCULATION PAYABLE DEFERRAL PERIOD (IN LAKHS)
INTERPRETATION
From the above table it is seen that:
∗ The payable deferral period i.e. the credit period allowed by the creditors
during the years 2008-09 and 2009-10 is 64 days and 45 days respectively.
∗ This means that the amount payable to creditors was paid after a long
period of credit purchase.
∗ Where as in 2009-10, the payable deferral period was the shortest i.e. only
45 days, which means that creditors were paid within a very short span of
time as compare to 2008-09.
∗ The payable procedure in HAL is though banks or the letter of Credit.
∗ But in some cases, the payment was made after receipt & acceptance of
goods.
TABLE – 9
A. Inventory conversion
period
i. Raw Material
Conversion
period 263 days 226 days
ii. WIP
Conversion
Period
iii. Finished
goods
Conversion
period 89 days 147 days
INTERPRETATION
∗ During last two years the Gross operating cycle varies from 675 days to
736 days.
TABLE – 10
CALCULATION OF AMOUNT OF WORKING CAPITAL (IN LAKHS)
(Less :Depreciation)
WORKING CAPITAL
INTERPRETATION
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BIBILOGRAPHY
REFERENCE BOOKS
REPORTS
WEBSITES
www.google.com
www.hal-india.com
DIVISION:KORAPU
HINDUSTAN AERONAUTICS LIMITED T
BALANCE SHEET (Rs in Lakhs)
As at 31st March 2009 31st March 2009
SOURCES OF FUNDS
Shareholders' Funds
Head office control account 4712.43
Reserves and Surplus 12045.96
16758.39
Loan Funds
Secured Loans 259.75
Unsecured Loans 0
259.75
Deferred Liabilities (Net) 0.44
Deferred Tax Liabilities (Net)
17018.58
APPLICATION OF FUNDS
Fixed Assets
Gross block 60053.35
Less : Depreciation 23475.2
Less :impairment loss
Net Block 36578.15
Capital Work-in-progress 7522.95
44101.1
Unsecured Loans
468.56
Deferred Liabilities (Net) 0.74
Deferred Tax Liabilities (Net)
-76780.6
APPLICATION OF FUNDS
Fixed Assets
Gross block 46430.09
Less : Depreciation 19817.22
Less :impairment loss
Net Block 26612.87
9145.97
Capital Work-in-progress
35758.84
Special Tools and Equipments 110774.82
Investments
Deffered tax assets
Current Assets, Loans & Advances
Inventories 94998.36
Sundry debtors 5883.47
Cash & Bank balance 19.98
Loans & advances 51617.16
152518.97
Less: current liabilities & provisions
Liabilities 387792.34
Provisions 17758.51