RBI Bulletin

Statement 1 : Growth Rates of the Selected Items of the Selected 990 Large Public Limited Companies, 1999-00 to 2001-02

(Per cent)

Item

1999-00

2000-01

2001-02

1

2

3

4

Growth Rate #

1.

Sales $

(12.2)

8.5

7.4

2.

Value of production

(13.2)

7.3

7.0

3.

TotalIncome

(13.0)

7.8

5.9

4.

Manufacturing expenses

(14.1)

7.0

5.1

5.

Remuneration to employees

(9.3)

10.5

7.3

6.

Depreciation provision

(17.3)

7.6

15.1

7.

Grossprofits

(11.8)

6.5

10.0

8.

Interest

(8.4)

4.9

5.3

9.

Operatingprofits

(16.9)

9.2

17.4

10.

Non-operating surplus/deficit

(17.8)

51.8

-24.9

11.

Profits before tax

(17.0)

17.0

7.3

12.

Tax provision

(28.0)

1.4

19.9

13.

Profits after tax

(12.5)

25.4

1.8

14.

Dividend paid

(17.0)

3.0

9.8

15.

Profitsretained

(8.9)

56.4

-5.6

16.

Gross saving

(15.0)

17.8

9.3

17.

(a) Gross value added

(12.1)

6.7

12.1

(b) Net value added

(10.6)

6.4

11.4

18.

Net worth @

(10.5)

6.4

- 0.1

19.

Total borrowings @

(6.8)

4.1

1.8

Of which, from banks @

(10.5)

5.8

4.0

20.

Trade dues and other current liabilities @

(10.6)

5.8

7.6

21.

(a) Gross fixed assets @

(9.1)

6.3

6.0

(b) Net fixed assets @

(5.6)

2.9

2.2

22.

Inventories @

(9.6)

5.2

0.7

23.

(a) Gross physical assets @

(9.1)

6.1

5.0

(b) Net physical assets @

(6.4)

3.5

1.8

24.

(a) Total gross assets @

(10.2)

7.2

5.6

(b) Total net assets @

(8.7)

5.7

3.7

25.

Total earnings in foreign currencies

(16.8)

21.5

6.4

Of which, Exports

(18.5)

13.5

4.0

26.

Total expenditure in foreign currencies

(9.8)

18.5

-3.4

Of which, Imports

(10.3)

16.2

-5.5

Note : Figures in brackets relate to 964 companies for the previous study.
# Rates of growth of all the items are adjusted for changes due to amalgamation of companies.
$ Net of ‘rebates and discounts’ and ‘excise duty and cess’.
@ Adjusted for revaluation, etc.

Statement 2 : Selected Financial Ratios of the Selected 990 Large Public Limited Companies, 1999-00 to 2001-02

(Per cent)

Item

1999-00

2000-01

2001-02

1

2

3

4

Selected Financial Ratios

A.

Capital structure ratios

1.

Net fixed assets to total net assets

49.3

48.0

47.3

2.

Net worth to total net assets

38.1

38.4

36.9

3.

Debt to equity

69.2

68.0

68.8

4.

Debt to equity

74.6

72.8

73.7

(equity adjusted for revaluation reserve)

5.

Short term bank borrowings to inventories

63.2

61.4

62.6

6.

Total outside liabilities to net worth

162.2

160.7

170.6

B.

Liquidity ratios

7.

Current assets to current liabilities *

1.3

1.3

1.2

8.

Quick assets to current liabilities

53.4

54.4

53.1

9.

Current assets to total net assets

44.7

44.8

44.0

10.

Sundry creditors to current assets

25.8

27.0

28.5

11.

Sundry creditors to net working capital

123.0

128.2

191.3

C.

Assets utilization and turnover ratios

12.

Sales to total net assets

70.4

72.4

74.9

13.

Sales to gross fixed assets

100.6

102.5

103.6

14.

Inventories to sales

22.9

22.2

20.8

15.

Sundry debtors to sales

19.5

19.5

19.1

16.

Exports to sales

11.9

12.5

12.1

17.

Gross value added to gross fixed assets

22.5

22.5

23.8

18.

Raw materials consumed to value of production

49.8

48.9

48.8

D.

Sources and uses of funds ratios @

19.

Gross fixed assets formation to

total uses of funds

(52.3)

51.2

59.2

20.

Gross capital formation to

total uses of funds

(62.1)

60.9

60.7

21.

External sources of funds to

total sources of funds

(62.9)

52.1

40.8

22.

Increase in bank borrowings to

total external sources

(18.4)

18.9

20.2

23.

Gross savings to gross capital formation

(71.9)

91.8

115.7

E.

Profitability and profit allocation ratios

24.

Gross profits to total net assets

6.8

6.9

7.3

25.

Gross profits to sales

9.7

9.5

9.7

26.

Profits after tax to net worth

5.3

6.3

6.4

27.

Tax provision to profits before tax

35.1

30.4

34.0

28.

Profits retained to profits after tax

42.0

52.3

48.6

29.

Dividends to net worth

3.1

3.0

3.3

30.

Ordinary dividends to ordinary paid-up capital

13.0

12.3

13.1

Note : Figures in brackets relate to 964 companies for the previous study.
@ Adjusted for revaluation, etc.
* Item B.7 is the actual ratio of current assets to current liabilities.

Statement 3 : Combined Income, Value of Production, Expenditure and Appropriation Accounts of the Selected 990 Large Public Limited Companies, 1999-00 to 2001-02

(Rs. crore)

Item

1999-00

2000-01

2001-02

1

2

3

4

Income and Value of Production

1. Sales $

1,53,601

1,66,732

1,79,085

2. Increase(+) or decrease(-) in value of stock

of finished goods and work in progress

2,655

885

211

3. Value of production (1+2)

1,56,256

1,67,617

1,79,295

4. Other income

4,983

5,678

4,872

Of which, (a) Dividends

459

423

569

(b) Interest

1,370

1,406

1,268

(c)Rent

295

820

248

5. Non-operating surplus(+)/ deficit(-)

1,257

1,908

1,432

6. Total(3+4+5)

1,62,497

1,75,204

1,85,600

Expenditure and Appropriations

7. Raw materials, components, etc., consumed

77,784

81,947

87,450

8. Stores and spares consumed

7,551

8,256

7,877

9. Power and fuel

12,423

14,152

14,266

10. Other manufacturing expenses

3,890

4,360

4,633

11. Salaries, wages and bonus

10,338

11,450

12,411

12. Provident fund

1,082

1,163

1,241

13. Employees’ welfare expenses

1,591

1,765

1,781

14. Managerialremuneration

232

325

333

15. Royalty

352

371

381

16. Repairs to buildings

374

393

380

17. Repairs to machinery

1,688

1,817

1,818

18. Bad debts

374

456

734

19. Selling commission

943

1,138

1,270

20. Rent

1,326

1,181

1,275

21. Rates and taxes

581

568

643

22. Advertisement

1,867

2,298

2,277

23. Insurance

663

648

680

24. Research and development

395

453

493

25. Other expenses

15,712

16,885

17,655

26. Depreciation provision

7,073

7,610

8,756

27. Other provisions

(other than tax and depreciation)

169

265

442

28. Grossprofits

14,832

15,793

17,371

29. Less: Interest

9,248

9,699

10,217

30. Operatingprofits

5,584

6,095

7,155

31. Non-operating surplus(+)/ deficit(-)

1,257

1,908

1,432

32. Profits before tax

6,841

8,003

8,587

33. Less: Tax provision

2,403

2,437

2,923

34. Profits after tax

4,438

5,566

5,664

35. Dividends

2,575

2,652

2,913

(a) Ordinary

2,442

2,529

2,813

(b) Preference

133

124

100

36. Profitsretained

1,863

2,914

2,751

37. Total (7 TO 28 + 31)

1,62,497

1,75,204

1,85,600

$ Net of ‘rebates and discounts’ and ‘excise duty and cess’.

Statement 4 : Combined Balance Sheet of the Selected 990 Large Public Limited Companies, 1999-00 to 2001-02

(Rs. crore)

Item

1999-00

2000-01

2001-02

1

2

3

4

Capital and Liabilities

A.

Sharecapital

21,242

23,110

24,015

(9.7)

(10.0)

(10.0)

1. Paid-up capital

21,194

23,000

23,904

(a) Ordinary

18,802

20,618

21,423

Of which, bonus

2,891

3,115

3,434

(b) Preference

2,391

2,383

2,481

2. Forfeitedshares

48

110

111

B.

Reserves and surplus

61,910

65,235

64,293

(28.4)

(28.3)

(26.9)

3. Capital reserves

28,955

30,440

30,574

Of which, premium on shares

21,358

22,400

22,359

4. Investment allowance reserve

601

487

486

5. Sinking funds

3,081

3,489

3,129

6. Other reserves

29,274

30,819

30,104

C.

Borrowings

86,145

89,654

91,284

(39.5)

(38.9)

(38.2)

7. Debentures @

12,758

13,437

13,302

8. Loans and advances

68,602

71,649

73,535

(a) Frombanks

32,082

33,936

35,288

Of which, short-term borrowings

22,204

22,702

23,269

(b) From other Indian financial

institutions

26,006

27,072

26,508

(c) From foreign institutional agencies

1,840

1,348

1,422

(d) From government and

semi-government bodies

2,089

2,385

2,894

(e) From companies

1,778

1,944

2,942

(f) Fromothers

4,807

4,965

4,481

9. Deferred payments

1,502

1,504

1,519

10. Publicdeposits

3,282

3,064

2,928

Of total borrowings, debt

57,506

60,084

60,777

D.

Trade dues and other current liabilities

45,880

48,555

52,266

(21.0)

(21.1)

(21.9)

11. Sundry creditors

25,209

27,874

29,926

12. Acceptances

1,873

1,642

1,761

13. Liabilities to companies

169

192

272

14. Advances/depositsfrom

customers, agents, etc.

8,960

9,180

9,551

15. Interest accrued on loans

3,780

4,108

5,165

16. Others

5,890

5,559

5,591

E.

Provisions

2,886

3,798

7,137

(1.3)

(1.7)

(3.0)

17. Taxation (net of advance of income-tax)

-

-

2,621

18. Dividends

1,630

2,236

2,484

19. Other current provisions

877

1,128

1,605

20. Non-current provisions

379

433

427

F.

21. Miscellaneous non-current liabilities

-

-

-

22. Total

2,18,063

2,30,351

2,38,995

(100.0)

(100.0)

(100.0)

Assets

G.

Gross fixed assets

1,52,650

1,62,645

1,72,886

23. Land

4,454

4,741

5,142

24. Buildings

18,224

19,168

20,997

25. Plant and machinery

1,06,436

1,16,263

1,26,925

26. Capital work-in-progress

14,699

12,606

9,318

27. Furniture, fixtures and office equipments

3,972

4,480

5,004

28. Others

4,866

5,387

5,501

H.

29. Depreciation

45,106

52,039

59,769

I.

30. Net fixed assets

1,07,544

1,10,606

1,13,117

(49.3)

(48.0)

(47.3)

J.

Inventories

35,124

36,947

37,192

(16.1)

(16.0)

(15.6)

31. Raw materials, components, etc.

12,871

13,281

13,733

32. Finishedgoods

11,284

12,291

12,376

33. Work-in-progress

5,727

5,606

5,732

34. Stores and spares

4,015

4,157

4,103

35. Others

1,227

1,612

1,248

K.

Loans and advances and other debtor balances

50,757

53,915

54,543

(23.3)

(23.4)

(22.8)

36. Sundry debtors

29,950

32,547

34,149

37. Loans and advances

14,966

15,555

14,272

(a) To subsidiaries and companies under

the same management

915

1,257

1,200

(b) Others

14,051

14,299

13,072

38. Interest accrued on loans and advances

247

293

489

39. Deposits/ balances with

government/ others

3,749

3,805

4,357

40. Others

1,845

1,715

1,276

L.

Investments

14,170

17,009

20,528

(6.5)

(7.4)

(8.6)

Of which, quoted investments

3,977

4,192

4,523

41. Foreign

187

489

463

42. Indian

13,984

16,520

20,065

(a) Government/ semi-government securities

366

182

908

(b) Securities of Financial Institutions

2,993

3,842

4,063

(c) Industrial securities

6,847

6,702

8,016

(d) Shares and debentures of subsidiaries

3,117

5,029

6,295

(e) Others

661

764

784

M.

43. Advance of income-tax

501

546

-

(net of tax provision)

(0.2)

(0.2)

(-)

N.

Other assets

2,762

3,717

4,752

(1.3)

(1.6)

(2.0)

44. Immovable property

117

221

102

45. Intangible assets

2,645

3,495

4,645

46. Miscellaneous non-current assets

-

-

5

O.

Cash and bank balances

7,204

7,612

8,863

(3.3)

(3.3)

(3.7)

47. Fixed deposits with banks

3,624

3,904

4,722

48. Other bank balances

2,753

2,832

3,310

49. Cash in hand

827

876

830

50. Total

2,18,063

2,30,351

2,38,995

(100.0)

(100.0)

(100.0)

Note : Figures in brackets denote the share in the total liabilities/assets.
@ Include privately placed debentures.
- Nil or negligible.

Statement 5 : Sources and Uses of Funds of the Selected 990 Public Limited Companies, 2000-01 and 2001-02

(Rs. crore)

Item

2000-01

2001-02

1

2

3

Sources of Funds

Internal Sources

9,018

9,696

(47.9)

(59.2)

A.

1. Paid-up capital

278

318

(1.5)

(1.9)

B.

Reserves and Surplus

1,400

-1,785

(7.4)

(-10.9)

2. Capital reserves

-438

-485

3. Investment allowance reserve

- 113

-1

4. Sinking funds

408

-360

5. Other reserves

1,543

-939

C.

Provisions

7,340

11,162

(39.0)

(68.1)

6. Depreciation

6,474

7,277

7. Taxation (net of advance of income tax)

-45

3,167

8. Dividends

606

248

9. Other current provisions

251

477

10. Non-current provisions

54

-6

External Sources

9,810

6,684

(52.1)

(40.8)

D.

Paid-up capital

3,450

1,275

(18.3)

(7.9)

11. Net issues

1,588

797

12. Premium on shares

1,861

477

E.

13. Capital receipts

175

68

(0.9)

(0.4)

F.

Borrowings

3,509

1,630

(18.6)

(10.0)

14. Debentures

679

-135

15. Loans and advances

3,047

1,886

(a) Frombanks

1,854

1,353

(b) From other Indian financial

institutions

1,066

-564

(c) From foreign institutional agencies

-492

74

(d) From government and

semi-government bodies

295

509

(e) From companies

166

998

(f) Fromothers

159

-485

16. Deferred payments

2

15

17. Publicdeposits

-218

-136

G.

Trade dues and other current liabilities

2,676

3,711

(14.2)

(22.7)

18. Sundry creditors

2,665

2,052

19. Acceptances

-231

119

20. Liabilities to companies

23

80

21. Advances/ deposits from

customers, agents, etc.

221

371

22. Interest accrued on loans

328

1,057

23. Others

-331

32

H.

24. Miscellaneous non-current liabilities

-

-

25. Total

18,829

16,380

(100.0)

(100.0)

Uses of Funds

I.

Gross fixed assets

9,644

9,702

(51.2)

(59.2)

26. Land

249

279

27. Buildings

880

1,728

28. Plant and machinery

9,586

10,351

29. Capital work-in-progress

-2,092

-3,288

30. Furniture, fixtures and

office equipments

508

523

31. Others

514

109

J.

Inventories

1,823

245

(9.7)

(1.5)

32. Raw materials, components, etc.

411

452

33. Finishedgoods

1,007

84

34. Work-in-progress

-122

126

35. Stores and spares

142

-54

36. Others

385

-364

K.

Loans and advances and

other debtor balances

3,159

628

(16.8)

(3.8)

37. Sundry debtors

2,597

1,602

38. Loans and advances

591

-1,283

a) To subsidiaries and companies

under the same management

342

-56

b) Others

249

-1,227

39. Interest accrued on loans and advances

46

196

40. Deposits/ balances with

Government/others

56

552

41. Others

-130

-439

L.

42. Investments

2,840

3,519

(15.1)

(21.5)

M.

43. Other assets

954

1,036

(5.1)

(6.3)

N.

44. Cash and bank balances

408

1,251

(2.2)

(7.6)

45. Total

18,829

16,380

(100.0)

(100.0)

Note : This statement is derived from Statement 4. Figures have been adjusted for the changes consequent on amalgamation of companies and for revaluation, etc., wherever necessary.
Figures in brackets denote the share in total sources/uses of funds.
- Nil or negligible.

Statement 6 : Earnings and Expenditure in Foreign Currencies of Selected 990 Large Public Limited Companies, 1999-00 to 2001-02

(Rs. crore)

Item

1999-00

2000-01

2001-02

1

2

3

4

I.

Expenditure in foreign currencies

26,198

31,055

29,994

(a)

Imports (on c.i.f. basis)

21,456

24,926

23,562

Of which,

i)

Raw materials

14,761

18,950

17,775

ii)

Capitalgoods

1,791

1,545

1,454

iii)

Stores and spares

1,783

2,194

1,642

(b)

Other expenditure in foreign currencies

4,742

6,129

6,432

II.

Earnings in foreign currencies

22,756

27,640

29,401

Of which,

Exports (on f.o.b. basis)

18,298

20,775

21,612

III.

Net inflow (+)/ outflow (-) in

foreign currencies

-3,441

-3,415

-593

Statement 7 : Growth Rates of Selected Items of the Selected 990 Large Public Limited Companies According to Size of Sales, 2000-01 and 2001-02

(Percent)

Sales Range

No. of

Sales*

Grossprofits

Interest

Companies $

2000-01

2001-02

2000-01

2001-02

2000-01

2001-02

1

2

3

4

5

6

7

8

Less than Rs. 25 crore

300

-6.1

-15.3

—

&

2.1

-5.0

Rs. 25 crore - Rs. 50 crore

164

1.9

-5.5

-13.4

-7.0

1.9

-4.3

Rs. 50 crore - Rs. 100 crore

182

5.2

-2.2

-18.2

-20.0

-2.3

-5.3

Rs. 100 crore - Rs. 500 crore

263

9.1

4.0

5.6

3.4

3.9

-4.3

Rs. 500 crore - Rs. 1000 crore

50

7.4

6.9

20.0

13.5

13.2

-3.2

Rs. 1000 crore and above

31

11.6

16.6

11.1

19.3

4.7

29.5

Total

990

8.5

7.4

6.5

10.0

4.9

5.3

(Percent)

Sales Range

Operating profits

Profits before Tax

Tax Provision

Profits Retained

2000-01

2001-02

2000-01

2001-02

2000-01

2001-02

2000-01

2001-02

1

9

10

11

12

13

14

15

16

Less than Rs. 25 crore

&

&

&

&

-12.2

-3.2

&

&

Rs. 25 crore - Rs. 50 crore

&

&

&

&

-7.6

-19.0

&

&

Rs. 50 crore - Rs. 100 crore

-53.5

-87.8

-50.3

-36.5

-12.4

-5.6

—

&

Rs. 100 crore - Rs. 500 crore

9.0

18.8

8.7

15.8

12.7