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Documenti di Cultura
S. No PARTICULARS PAGE NO
I II III
IV V
Icing sugar Invert sugar Jiggery Lactose Maltose Maple syrup Powdered sugar Raw Sugar Rice syrup Saccharins Sucrose Sugar beets Turbinates
1.7. Sugarcane Cultivation in would wide Sugarcane is one of six species of a tall tropical Southeast Asian gross (Family) having stout fibrous jointed stalks whose sap at one time was the primary sources of sugar. Sugarcane is composed of six specices of the genus sucharun in tribe and ropogonece. The cultivated species are complicated hybrids and all species interbreed. Over 100 countries grow sugarcane. worldwide. There are 1,30,000 Km2(32million areas) of sugarcane plantations
At present Cuba, Mexico, Brazil china India and Thailand are the leading
producers of cane Sugar and the US, Rusia, France, Germany, Italy, Poland and Netherlands leading producers of beet sugar in the world. Brazil is a major grower of sugarcane where it is used to produce sugar as well as to provide alcohol used in making gasohol and biodiesel fuels.
1. 8. Cultivation
Sugarcane is native to New Guinea. Its culture requires a tropical or subtropical climate, with a minimum of 60 cm (24 in) of annual moisture it is one of the most efficient photosyn the seizers in the plant kingdom, able to solar energy into biomass. Sugarcane is propagated from cuttings, rather than from seed. Each cutting must contain at least one bud, and the cuttings are usually planted, a stand of cane can be largest several times, after each harvest, the cane send up new stalks, called ratoons. Sugarcane is harvested by hand or mechanically when harvested either by hand, the field set on fire. The fire spreads very rapidly. Burning away the leaves but bearing the water-rich stalks and root unbar med. Harvesters then cut the standing cane just above the growth with knives. A skilled cane harvester can cut 500 kg of sugarcane in an hour.
Phytotron agro products (India) PVT. Ltd has introduced biotechnology based chemical called phytotron sugar reopener (PSR). Then The Central Salt and Marine Chemicals Research Institute (CSMCRI) has developed a technology which increase the production of sugar by over 10 recent and also improve its quality and that of molasses. A company, ponni sugar I chemicals Ltd, at erode, Tamilnadu technology for superation process.
representatives from mine Lange companies from Europe and America to visit India to make a presentation of their technologies at a seminar organized by it among the non food cash crops sugarcane is the most fast catching crop in Tamil Nadu.
1.14. Methodology
This study was used to analyses financial statement of Bajaj Hindus than Limited. Its purpose is the statements were changed to compare one method to anther method. The case study method was used for this study. The annual reports auditing reports and financial statements were collected for this study.
1.16. CHAPTER SCHEME:This study contains five chapter schemes. (i) Chapter 1: This chapter contained the introduction of Bajaj Hindus than sugar mills limited. (ii) Chapter 2: The chapter contained the profile of the Bajaj Hindus than sugar mills limited. (iii) Chapter 3: This chapter contained performance analysis of Bajaj Hindus than sugar mills limited. (iv) Chapter 4: This chapter contained analysis and interpretation of financial performance of Bajaj Hindus than sugar mills limited. (v) Chapter5: This chapter discussed finding suggestion and conclusion of the study.
2.3. Objectives
The objective new unit was primarily to help the cane growers of the area supply their produce to the new location closer. Fields there by cutting down on transportation costs. The capacity was subsequently increased in stages. In the year 1988 the Hindustan sugar mills limited was renamed as Bajai hindusthan limited and shorty there ofter in 1990 Sharda. sugar Industries. The company embarked on an aggressu Greenfield expansion drive in 2003 2007 starting with plant at kinaani near meerut (up) which was completed in a record time of just seven months as again.
2.4. Business information:Today with its sugar manufacturing facilities across location in up, BHL has a cane crushing capacity of 96,000 tcd and also the countrys largest ethanol producer with an output if 480 KLI day. In an acquisition move, the company took over the pratuppur sugar and industries limited (PCIL), district decria, Eastern up in December 2005. This plant, in operation since 1903, had a crushing capacity of 3200 lcd. Which was increased to 6000 tcd in the subsequent sugar season 2006 07. PSIL was subsequently renamed Bajaj Hindustan sugar and Industries limited (BHSIL) and is a subsidiary of BHL. This acquisition provide BHL a strategic foothold in the sugar deficient region of eastern up and reaffirming the consolidation that took place in the sugar industry. Thus BHSIL now has a crushing capacity of 40,000 tcd and a distillery with the capacity to manufacture 160 kilo liter per day of ethanol. The total industrial alcohol ethanol capacity of the company, including its subsidiary is 800 KL day. With the commission of three bagasse based power co- generation plants at Kundarkhi rudauli and utraula, BHSIL has anaggreate power generation capacity of 95.8 MW).
The companys annual turnover was Rs18,749 million for the ended September, 30, 2008. The companys growth initiative has been led by a strategic focus of attainting global scales of manufacturing and cost competitiveness. Such bench marketing provides BHL advantages for cost and higher domestic market share where demand is expected to outstrip supply for the next few years. While its planning and processes are benchmarked against global practices. Its activities are directed at contributing to the Indian rural economy at a local grassroots level, primarily in the uplifting of the farmers.
PERONNEL
DEPUTY MANAGER
PERSONNEL
TIME OFFICE
SECURITY
DISPENSARY
SECTION INCHARGE
TIME KEEPER
SECURITY INSPECTOR
STENO TYPIST
CLERK
PHARMACIST
GUARDS
WARD BOYS
Chart No 2
CANE DEPARTMENT
SENIOR MANAGER
MANAGER
CANE OFFICERS
CANE INSPECTORS
ACCOUNTS
SYSTEAM
STAFF EXECUTIVES
ASSISTANT MANAGERS
EXECUTIVE
ADMINISTRATION
DIESEL BUNK
CLERK ADMINISTRATION
CLERK - DFSPATCH
TELEPHONE OPERATOR
OTHER STAFF
For Investors Present and prospective investors are interested in studying financial statement to assets earning capacity growth potential and efficiently of management. The share holders would like to assets the present and future prospects, financial statement provide such information reading to shareholders and debenture holders.
3.6. Types of Analysis The process of financial statement analysis is of different types the process of analysis is classified on the basic. FINANCIAL STATEMENT ANALYSIS
External Analysis This analysis is based on published financial statement of a firm outsiders have limited access to internal records of the concern. Therefore they depend on published financial statements. Thus the analysis done by outsiders namely creditors, Suppliers investors and government agencies is known as external analysis. This analysis serves a very limited purchase. Internal Analysis This analysis is done on the basis of internal and unpublished records. It is very much useful and unpublished records. It is done by executive or other authorized officials. It is very much useful and significant to employees and management. Horizontal Analysis This analysis is also known as dynamic or trend analysis. The analysis is done by analyzing the statement of a number of years. According to John. N. Myer the horizontal analysis consists of a study of the behaviors of each consists of in the statement. Thus under horizontal analysis we study the behavior of each item shown in the financial statements, we examine
CHAPTER - IV
Current Ratio of 2:1 is considered ideal that is for every one rupee of current liability there must be current assets of Rs.2 if the ratio is less than two it may be difficult for a firm to pay current liabilities. If the ratio is more than two it is an indicator of idle funds. Table 4.1 Current Ratio Year 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 Current assets 108.74 78.39 271.25 512.42 686.28 Current liability 113.06 171.08 537.69 1116.36 1105.35 Ratio 0.9617 0.4582 0.5044 0.4590 0.6208
Source: secondary data Interpretation It is from the table 4.1 that the current ratio lies between 0.9617 times and 0.6208times, In the year 2004-2005 it was 0.9617 times and after it has decreased to 0.4582 times in the year 2005-2006. Then it has increased to 0.5044 times in the year 2006-2007. Suddenly it has decreased 0.4590 times in the year 2007-2008. Finally, it has grown up 0.6208 times in the year2008-2009. It indicates the company moves towards goods situation. It indicates that there was a fluctuating in the current ratio over the years.
Chart 4.1
Current Ratio
0.9617
0.4582
0.5044 0.459
0.6208
2004-2005
2005-2006
2006-2007
2007-2008
2008-2009
Ratio
Table 4.2 Quick Ratio Year 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 Quick assets 31.33 22.84 148.86 117.59 49.04 Quick liability 113.06 171.08 537.69 1116.36 1105.35 Quick Ratio 0.2771 0.1335 0.2168 0.1053 0.0443
Source: secondary data Interpretation It is from the table 4.2 that the quick ratio lies between 0.2771 times and 0.0443 times. In the year 2004-2005 it was 0.2771 times and after that it has decreased 0.1335 times in the year 20052006. After then in the year 2006-2007 it has increased in the sub sequent years from 2007-2008 to 2008-2009, as 0.1053 times and 0.0493 times. It indicates the quick assets were not well to compare with quick liabilities. The Company must try to maximize its quick assets.
Chart 4.2
Quick Ratio
49.04 117.59
31.33
22.84
148.86
2004-2005
2005-2006
2006-2007
2007-2008
2008-2009
( ) Table 4.3 Proprietary Ratio Year 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 137.73 614.24 1368.67 1434.33 1345.10 459.91 1124.27 2874.75 4325.24 4754.19 Proprietary Ratio 0.2994 0.5463 0.4761 0.3316 0.2829
Source: secondary data Interpretation It is from the table 4.3 that the Proprietary ratio lies between 0.28994 times and 0.2829 times. In the year 2004-2005 it was 0.2994 times and after that it has increased 0.546 times in the year 20052006. After then in the year 2006-2007 it has increased to 0.4761times. Again it has decreased in the sub sequent years from 2007-2008 to 2008-2009, as 0.3316 times and 0.0493 times. It indicates the share holders funds were not well to compare with total assets. The Company must try to maximize its share holders funds. It indicates that there were fluctuating in the proprietary ratio.
Chart 4.3
Proprietary Ratio
0.5463 0.4761
2004-2005
2005-2006
2007-2008
2008-2009
Table 4.4 Cash Position Ratio Year 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 Source: secondary data Interpretation: It is from the table 4.4 that the cash position ratio lies between 0.0309 times and 0.0060times. In the year 2004-2005 it was 0.0309 times and after that it has decreased 0.0291 times in the year 2005-2006. After then in the year 2006-2007 it has increased to 0.1618times. Again it has decreased in the sub sequent years from 2007-2008 to 2008-2009, as 0.0067 times and 0.0060 times. It indicates the cash position were not well to compare with current liabilities. The Company must try to maximize its cash position. It indicates that there were fluctuating in the cash position ratio over the year. Cash 137.73 614.24 1368.67 1434.33 1345.10 Current Liabilities 459.91 1124.27 2874.75 4325.24 4754.19 Cash Position Ratio 0.2994 0.5463 0.4761 0.3316 0.2829
Chart 4.4
0.2994
0.3316 0.2829
2004-2005
2005-2006
2006-2007
2007-2008 2008-2009
Table 4.5 Year 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 Source: secondary data Interpretation It is from the table 4.5 that the Net Working Capital ratio lies between -0.0093 times and 0.0881times. In the year 2004-2005 it was -0.0093times and after that it has increased -0.0824times in the year 2005-2006. After then in the year 2006-2007 it has increased to -0.0927times. Again it has increased in the sub sequent years from 2007-2008 to 2008-2009, as 0.1396times and 0.0881times. It indicates the cash position were not well to compare with Net Assets. The Company must try to maximize its Net working capital. It indicates that there were fluctuating in the net working ratio. Net Working Capital -4.32 -92.69 -266.44 -603.94 -419.07 Net Assets 459.91 1124.27 2874.75 4325.24 4754.19 Ratio -0.0093 -0.0824 -0.0927 0.1396 0.0881
Chart 4.5
-603.94
2004-2005
2005-2006
2006-2007
2007-2008
2008-2009
Table 4.6 Fixed Assets to Proprietors Fund Ratio Year 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 Source: secondary data Interpretation It is from the table 4.6 that the Fixed Assets to proprietors ratio lies between 1.7763 times and 1.84281times. In the year 2004-2005 it was 1.7763times and after that it has decreased 0.7428times in the year 2005-2006 It has decreased to 0.7404 times. In the year 2006-2007 suddenly it has increased 1.5463 time in the years from 2007-2008 Finally, Then it has grown up 1.8428timess in the year 2008-2009. It indicates the Company moved towards, good situation. It indicates that there were fluctuating in the Fixed Assets to proprietors fund ratio over the year. Fixed Assets 244.66 456.29 1013.48 2218.04 2478.82 Proprietors Fund 137.73 614.24 1368.78 1434.33 1345.10 Ratio 1.7763 0.7428 0.7404 1.5463 1.8428
Chart 4.6
0.7428
0.7404
2004-2005
2005-2006
2006-2007
Ratio
Table 4.7 Year 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 Current Assets 108.74 78.39 271.25 512.42 686.28 Proprietors Fund 137.73 614.24 1368.78 1434.33 1345.10 Ratio 0.7895 0.1276 0.1971 0.3572 0.5102
Source: secondary data Interpretation It is from the table 4.7 that the Current Assets to proprietors ratio lies between 0.7895 times and 0.5102times. In the year 2004-2005 it was 0.7895times and after that it has decreased to 0.1276 times in the year 2005-2006. Then it has increased 0.1981times in the year 2006-2007 suddenly it has increased 0.3572 times. In the 2007-2008 Finally it has again grown up 0.5102times in the year 2008-2009, It indicates the Company moves towards, goods situation. It indicates that were a fluctuating in the current assets to proprietors fund ratio over the year.
Chart 4.7
0.5102
0.3572
0.1971 0.1276
2004-2005
2005-2006
2006-2007 Ratio
2007-2008
2008-2009
Table 4.8 Year 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 External 322.18 510.04 1506.09 2890.89 3409.07 Internal 137.73 614.24 1368.67 1434.33 1345.10 Ratio 2.3392 0.8303 1.1004 2.0154 2.5344
Source: secondary data Interpretation It is from the table 4.8 that the Debt equity ratio lies between 2.3392 times and 2.5344 times. In the year 2004-2005 it was 2.3392 times and after that it has decreased to 0.8303 times in the year 2005-2006. Then it has increased as1.1004times in the year 2006-2007 suddenly it has increased 2.0154 times. In the 2007-2008 Finally it has grown up 2.5344 times in the year 2008-2009, it indicates the Company moves towards, goods situation. It indicates that were a fluctuating in the Debt equity ratio over the year.
Chart 4.8
1.1004 0.8303
2004-2005
2005-2006
2006-2007 Ratio
2007-2008
2008-2009
Table 4.9 Year 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 Net Current Assets 36.58 39.47 432.38 1104.16 1648.42 Total Assets 459.91 1124.27 2874.75 4325.24 4754.19 Ratio 0.0795 0.0351 0.1504 0.2552 0.3467
Source: secondary data Interpretation It is from the table 4.9 that the Net Current Assets to Total assets Ratio lies between 0.0795 times and 0.3467times. In the year 2004-2005 it was 0.0795times and after that it has decreased to 0.0351 times in the year 2005-2006. Then it has increased 0.1504 times in the year 2006-2007 suddenly it has increased 0.2552 times. In the 2007-2008 Finally it has grown up 0.3467times in the year 2008-2009, It indicates the Company moves towards, goods situation. It indicates that were a fluctuating in the Net Current Assets to Total assets Ratio over the year.
Chart 4.9
0.0795 0.0351
0.3467 0.1504
0.2552
2004-2005
2005-2006
2006-2007
2007-2008
2008-2009
Table 4.10 Year 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 Investment 0.07 5.07 205.81 437.47 488.26 459.91 1124.27 2874.75 4325.24 4754.19 Ratio 0.0001 0.0045 0.0715 0.1011 0.1027
Source: secondary data Interpretation It is from the table 4.10 that the investment to total assets ratio lies between 0.0001 times and 0.1027 times. In the year 2004-2005 it was 0.0001times and after that it has increased to 0.0045 times in the year 2005-2006. Then it has increased as 0.0715times in the year 2006-2007 suddenly it has increased 0.1011 times. In the 2007-2008 Finally it has grown up 0. 1027 times in the year 20082009, It indicates the Company moves towards, a good situation. It indicates that were a fluctuating in the investment to total assets ratio over the year
Chart 4.10
0.1011
2004-2005
2005-2006
2006-2007
2007-2008
2008-2009
Table 4.11
Source: secondary data Interpretation It is from the table 4.11 that the Net Current Assets to Fixed assets Ratio lies between 0.1435 times and 0.6650 times. In the year 2004-2005 it was 0.1435 times and after that it has decreased to 0.0865 times in the year 2005-2006. Then it has increased 0.4266 times in the year 2006-2007 suddenly it has increased 0.4978 times. In the 2007-2008 Finally it has grown up 0.6650 times in the year 2008-2009, It indicates the Company moves towards, goods situation. It indicates that were a fluctuating in the Net Current Assets to Fixed Assets Ratio over the year.
Chart 4.11
0.4978 0.4266
0.1435 0.0865
2004-2005
2005-2006
2006-2007 Ratio
2007-2008
2008-2009
Table 4.12
Year 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 Source: secondary data Interpretation:
It is from the table 4.12 that the debtors turnover Ratio lies between 1.6819 times and 1.0582 times. In the year 2004-2005 it was 1.6819 times and after that it has decreased to 0.9753 times in the year 2005-2006. Then it has increased to 1.3507 times in the year 2006-2007 suddenly it has decreased 0.872 times. In the 2007-2008 Finally it has grown up 1.0583 times in the year 2008-2009, It indicates the Company moves towards, goods situation. It indicates that were a fluctuating in the debtors turnover Ratio over the year.
Chart 4.12
1.3507
2004-2005
2005-2006
2006-2007 Ratio
2007-2008
2008-2009
Table 4.13 Year 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 Fixed Assets 244.66 456.29 1013.48 2218.04 2478.82 459.91 1124.27 2874.75 4325.24 4754.19 Ratio 0.5319 0.4058 0.3525 0.5128 0.5213
Source: secondary data Interpretation: It is from the table 4.13 that the fixed assets to Total Assets Ratio lie between 0.5319 times and 0.5213 times. In the year 2004-2005 it was 0.5319 1times and after that it has decreased to 0.4058 times in the year 2005-2006. Then it has decreased as 0.3525times in the year 2006-2007 suddenly it has increased 0.5128 times. In the 2007-2008 Finally it has grown up 0.5213 times in the year 2008-2009, It indicates the Company moves towards, a good situation. It indicates that were a fluctuating in the fixed assets to total Assets Ratio over the year
Chart 4.13
2218.04
2004-2005
2005-2006
2006-2007
2007-2008
2008-2009
Table 4.14
Source: secondary data Interpretation It is from the table 4.13 that the Return on share holder fund ratio lies between 44.30 times and -0.354 times. In the year 2004-2005 it was 44.30 1times and after that it has decreased in the following year 2005-2006 to 2008-2009, the ratio was 22.85 times to -3.54 times. The return on share holder fund were not well is the concern . It indicates that were a fluctuating in the Return on share holder fund ratio over the year
Chart 4.14
22.85
13.94
2006-2007
2007-2008
2008-2009 -3.54
Ratio
Table 4.15
Net profit after interest Total Assets 61.02 140.39 190.83 45.65 -47.68 459.91 1124.27 2874.75 4325.24 4754.19
Source: secondary data Interpretation It is from the table 4.15 that the Return on total assets Ratio lies between 13.4761 times and 1.0123 times. In the year 2004-2005 it was 13.4761 1times and after that it has decreased to 12.5861 times in the year 2005-2006. After then in the year 2006-2007 y it has increased to 6.6664 times. Again it has decreased in the sequent years from 2007-2008 to 2008-2009 as 1.0621 times and 1.0123 times. It indicates the net profit after interest was not well to compare with the total assets.
Chart 4.15
6.6664
2006-2007
2007-2008
2008-2009 -1.0123
Ratio
SUGGESTION
1. As there is a continuous growth in the Bajaj Hindustan Ltd. I suggest the Hindustan company expand their business. 2. The management should allocate sufficient working capital in order to meet our current obligations of the business. 3. The cash position may in prove to meet emergency requirements. 4. The fixed assets to proprietary fund ratio is also good position. 5. The companies try to decrease current liability at the minimum level.
CONCLUSION
The BHL is the one of the leading companies in India. It financial position was running good to compare with other companies. I have concentrated my attention on Ratio Analysis in which I have find out some of the ratios & I have also drawn Bar chart with explicitly the movement ratio. I have concentrated my attention on correlation between different aspects & the result is satisfactory during my study. I have also given suggestion to the BHL based on analysis.