INDIAN RAYON AND INDUSTRIES LIMITED - Aditya Birla Nuvo, Ltd

More documents

Recommendations

Info

FINANCIAL REVIEW <strong>AND</strong> ANALYSISHighlights16123(Rs. in Crores)2000-2001 1999-2000 % ChangeGross Turnover 1526.0 1187.1 29Net Turnover 1416.2 1072.1 32Other Income 31.7 52.2 (-)39Operating Profit (PBDIT) 230.2 205.8 12Royalty 8.2 1.4 -Interest 74.7 74.3 1Depreciation 73.1 72.5 1Profit Before Tax and Exceptional Items 74.2 57.6 29Exceptional Items - 298.8 -Tax 5.7 - -Net Profit 68.5 (-)241.2 -The Financial for the year 2000-01 is strictly not comparable with that of previous year since the financial of the last year includesperformance of the Garment Division for only 3 months.RevenuesAggregate net revenues have increased by 32 per cent from Rs.1072.1 Crores to Rs.1416.2 Crores due to the contribution for the fullyear from the Garments business, better performance of Insulators, VFY and Carbon Black businesses. In fact, all key businesses of theCompany, with the exception of Carbon Black, have achieved “highest ever revenues” during the year.Operating ProfitOperating profit has improved by 12 per cent YoY from Rs.205.8 Crores to Rs.230.2 Crores on the back of improved contribution fromits key businesses and more notably on account of the full year contribution of Garments and enhanced profitability of the Insulatorbusiness. That despite fall in other income, due to the complete utilisation of surplus funds for the acquisition of Madura Garments and therecent investment in the insurance joint venture during the year, Indian Rayon has eported a strong growth in operating profits, is indeedencouraging.InterestInterest charges remained almost flat at Rs.74.7 Crores, despite short-term debt raised for the acquisition of Madura Garmentsduring the fourth quarter of last year. The company has however repaid these short term debt, using internal cash. Better resource andworking capital management across businesses have also contributed towards flat interest charges, despite improved level of operations.DepreciationDepreciation charges were kept at Rs.73.1 Crores. Additional depreciation charges associated with the first full year operations ofthe Madura Garments were neutralised by reduced charges on account of the exit from the Sea Water Magnesia business.Income TaxThe Company had made a tax provision of Rs.5.7 Crores against a zero provision last year. The Company remains under MATprovisions and did not make any provision last year due to losses arising out of the exit from the Sea Water Magnesia business.
Net ProfitNet Profit has gone up from Rs. 57.6 Crores last year (before exceptional items) to Rs.68.5 Crores, reflecting an increase of 19 percent YoY. The Company’s Earnings Per Share (EPS) has also soared up by 19 per cent to Rs.11.4 while Cash Earning Per Share (CEPS) hasincreased by 9 per cent to Rs.23.7.Cashflow Analysis(Rs. in Crores)2000-01SOURCES OF CASHCash flow from operations (Net of Tax) 190.4Non-operating cash-flows 17.6Proceeds from Borrowing 12.0Proceed from sale of Sea water magnesia business assets held for disposal 23.5Net inflow from Investment actvity 119.9TOTAL 363.4USES OF CASHNet Capital Expenditure 21.4Repayment of Borrowings 140.2Investment in Insurance Joint Venture 82.8Increase in Working Capital 31.0Interest 78.0Dividend (including Dividend Tax) 6.7Increase in Cash and Cash Equivalents 3.3TOTAL 363.4Sources of CashCash from operationOperating cash flows improved by Rs.190.4 Crores on the back of improved contributions from the Company’s key businesses,inclusive of the full year contributions of the garment division against only 3 months’ contribution last year.Non operating Cash FlowsNon operating cash flows primarily consisted of dividend and interest receipts and have accounted for only 4.8 per cent of gross cashflows. The reduced share of non-operating cash flows is primarily on account of full utilisation of surplus proceeds for acquisition ofMadura Garments last year and the recent investment in the insurance joint venture.BorrowingsThe Company has raised long-term loan of Rs.12 Crores at 7.5 per cent under TUF Scheme of the Govt. of India to finance itsDesalination plant at Veraval set up, to overcome water crisis in the region.InvestmentsThe Company has liquidated short-term investment during the year. It has thus generated a net inflow of Rs.119.9 Crores, which wasutilised for repayment of short term debt raised towards end of last financial year. Part of proceeds were also used for investment in theInsurance joint venture during the year.Sale of Sea Water Magnesia assetsDuring the year the Company has received Rs.23.5 Crores from sale of assets of Sea water magnesia business.17
Page 1 and 2: BOARD OF DIRECTORSShri Kumar Mangal
Page 3 and 4: Simultaneously, we will concentrate
Page 5 and 6: Mavoor, which were rendered unviabl
Page 7 and 8: SEGMENTAL ANALYSIS AND REVIEWThe ne
Page 9 and 10: On the upside is the structural cha
Page 11 and 12: Benefiting from the shifting focus
Page 13 and 14: • Volume Enhancement: Efforts on
Page 15: Outlook for Indian Rayon’s Insula
Page 19 and 20: Birla Sunlife Insurance Company Ltd
Page 21 and 22: 1 Independent director means direct
Page 23 and 24: 5. The Board meetings should be hel
Page 25 and 26: 13. The Company should provide a br
Page 27 and 28: Social ReportBeyond Business - Reac
Page 29 and 30: Environment ReportENVIRONMENTAL PRO
Page 31 and 32: Directors’ Report to the Sharehol
Page 33 and 34: Forays Into New Business Segments a
Page 35 and 36: AWARDS AND RECOGNITIONDuring the ye
Page 37 and 38: ii)iii)Insulator Division• Instal
Page 39 and 40: ANNEXUREForm-AForm for disclosure o
Page 41 and 42: xv)xvi)xvii)xviii)xix)xx)xxi)xxii)T
Page 43 and 44: Profit & Loss Account for the year
Page 45 and 46: SCHEDULE ‘3’ As at 31st As at 3
Page 47 and 48: SchedulesSCHEDULE ‘6’ (Contd.)I
Page 49 and 50: SCHEDULE ‘8’ As at 31st As at 3
Page 51 and 52: SCHEDULE ‘13’ 2000-01 1999-2000
Page 53 and 54: SchedulesSCHEDULE ‘19’SIGNIFICA
Page 55 and 56: SchedulesSCHEDULE ‘19’SIGNIFICA
Page 57 and 58: SchedulesANNEXURE IINFORMATION PURS
Page 59 and 60: BALANCE SHEET ABSTRACT AND COMPANY
Page 61 and 62: STATEMENT PURSUANT TO SECTION 212 O
Page 63 and 64: BALANCE SHEET AT 31 DECEMBER 2000IN
Page 65 and 66: BIRLA SUN LIFE INSURANCE COMPANY LI
Page 67 and 68:
REVENUE ACCOUNTFor the period 4th A
Page 69 and 70:
SCHEDULE-4BENEFITS PAID (NET)(Amoun
Page 71 and 72:
SCHEDULE-10FIXED ASSETS(Amount in R
Page 73 and 74:
Tax ProvisionThe tax provision as o
Page 75 and 76:
MANAGEMENT REPORTIn accordance with
Page 77 and 78:
BALANCE SHEETAs at 31st March, 2001
Page 79 and 80:
STATEMENT PURSUANT TO SECTION 212 O
Page 81 and 82:
BALANCE SHEETAs at 31st March, 2001
Page 83 and 84:
Shareholder Information1. Annual Ge
Page 85 and 86:
Relative Performance: Indian Rayon
Page 87 and 88:
15. Categories of Shareholding as o
show all

INDIAN RAYON AND INDUSTRIES LIMITED - Aditya Birla Nuvo, Ltd

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?