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Essar Oil Limited was incorporated as a Public Limited Company on 12th September 1956 Promoters of EOL.

. EOL was engaged in preliminary activities relating to bidding for oil & gas fields

Balance Sheet as at March 31,2011


Particulars 2011 2010 (Rs.in Crores) (Rs.in Crores)

Sources of funds
Shareholders funds a. Share capital 1,382.27
5,155.63 12,274.42

1,218.13
1,153.21 2,836.57 9,470.59

b. Advance towards issue of global depository shares. c. Reserves and Surplus

Loan funds
a. Secured Loans

b. Unsecured Loans

2,272.51
11.45

883.14
-

Deferred tax liability(net)

Total

21,096.28 15,561.64

Particulars

2011 2010 (Rs.in Crores) (Rs.in Crores)

Application of funds
Fixed Assets
a. Gross block b. Less: Accumulated depreciatiion and amortisation c. Net block 13,974.59 2,230.50 11,744.09 8,423.04 103.00 13,802.50 1,493.15 12,309.35 4,318.75 203.00 0.57

Capital work-in-progress Investments


Deferred tax assets (net)

Current Assets, Loans and Advance.


a. Inventories b. Debtors c. Cash and Bank balances d. Other Current Assets e. Loans and advances 5,749.14 2,367.30 2,958.66 497.84 737.88 3,969.44 1,957.42 1,350.75 406.54 728.37

Particulars

2011 2010 (Rs.in Crores) (Rs.in Crores)

Less: Current Liabilities and Provisions


a. Current Liabilities b. Provisions 11,287.69 196.98 11,484.67 10,160.57 56.24 10,216.81 (1,804.29)

Net Current Assets Debit balance in statement of profit and loss

826.15

21,096.28

534.26 15,561.64

Total

Statement of Profit and Loss


for the year ended March 31, 2011
Particulars 2011 2010 (Rs. in Crores) (Rs. In Crores)

Income
a. Turnover (Gross) b. Less: Excise duty c. Turnover (Net) d.Less: Sales tax 53,119.10 5,213.77 47,905.33 917.12 46,988.21 e. Other Income 354.00 42,401.68 5,083.20 37,318.48 813.87 36,504.61 871.93

47,342.21 37,376.54

Expenditure
Purchase of traded petroleum products 1,964.20 1,705.74

Particulars

2011 (Rs. In crores)


42,129.27 (1,157.64) 735.66
119.67 409.14 362.42 44,562.72

2010 (Rs.In crores)


32,855.98 (310.81) 413.52
97.50 381.26 295.53 35,438.72 1,937.82 1,180.93 728.31 28.58

Consumption of raw materials Increase/ Decrease in stock Operating expenses


Employees Cost Selling and Distribution expenses General and Administration expenses

Profit before interest,depreciation and taxes


Less: Interest and Finance charges Less: Depreciation and amortisation

2,779.49 1,220.24 730.86 828.39

Net profit before taxes

Particulars

2011 (Rs. In Crores)

2010 (Rs. In Crores)

Taxes Income tax Income Tax Refund Deferred Tax 162.49 12.02 653 .88 (556.51) 0.88 29.46 (556.96) 0.45

Net profit after taxes


Balance brought forward from previous year Add: Amount transferred from foreign project reserves Less: Amount transferred to debenture redemption reserve

60.33 37.04

29.46 (556.51)

Balance carried forward

HPCL is a Government of India Enterprise with a Navratna Status, and a Fortune 500 company.
HPCL operates 2 major refineries producing a wide variety of petroleum fuels & specialties, one in Mumbai and one in vishakapatnam.

Balance Sheet as at March 31,2011


Particulars 2011 2010 (Rs.in Crores) (Rs.in Crores)

Sources of funds
Shareholders funds a. Share capital 339.01
12,206.79 12,545.80

339.01
11,218.96 11,557.97 1,375.88 19,926.49

b. Reserves and Surplus

Loan funds
a. Secured Loans b. Unsecured Loans 3,657.68 21,363.51

25,021.19

21,302.37
1,807.97
34,668.31

Deferred tax liability(net)

3,195.63
40,762.62

Total

Particulars

2011 2010 (Rs.in Crores) (Rs.in Crores)

Application of funds
Fixed Assets
a. Gross block b. Less: Accumulated depreciatiion and amortisation c. Net block 29,648.39 11,003.86 18,644.53 3,798.70 24,988.37 9,681.70 15,306.67 3,887.59

d. Capital work in progress

22,443.23

19,194.26
11,387.22

Investments Current Assets, Loans and Advance.


a. Inventories

11,335.02

16,622.28

12,579.22

b. Debtors
c. Cash and Bank balances d. Other Current Assets e. Loans and advances

2,654.37
80.00 98.51 7,135.81

2,437.34
243.17 123.74 5,258.47

Particulars

2011 2010 (Rs.in Crores) (Rs.in Crores)

Less: Current Liabilities and Provisions


a. Current Liabilities b. Provisions 17,801.84 1,804.76 19,606.60 14,535.52 2,019.59 16,555.11

Net Current Assets

6,984.37
40,762.62

4,086.83
34,668.31

Total

Statement of Profit and Loss


for the year ended March 31, 2011
Particulars 2011 2010 (Rs. in Crores) (Rs. In Crores)

Income
Sale of goods Less: Excise duty Net Sales Recovery under subsidy schemes Other Income 132,669.97 8,897.55 123,772.42 9,726.52 1,343.54 134,842.48 108,598.68 7,251.17 101,347.51 6,289.95 1,646.16 109,283.62 3,249.96

Increase/(Decrease) Expenditure
Purchase of products for resale

3,438.78

85,396.86

62,677.82

Particulars

2011 (Rs. In crores)


40,362.01 143.42 285.15
2,886.50 2,017.16 93.03 2,444.80 1,406.95 884.00 135,919.88

2010 (Rs.In crores)


37,727.59 136.39 337.08
2,653.56 1,617.32 255.62 2,938.86 1,164.40 903.75 110,412.39

Consumption of raw materials Packages consumed Excise duty on inventory differential


Transhipping expenses Payments to and provisions for Employees Exploration Expenses Other Operation expenses Depreciation /Amorisation Borrowing Cost

Profit before prior period adjustments and taxes


Prior period adjustments credit/(debit)

2,361.38

2,121.19

15.24

(3.84)

Particulars

2011 (Rs. In Crores)


8,715.15 10,254.16 153.90 176.15 474.08

2010 (Rs. In Crores)


8,104.16 9,405.53 130.14 86.40 406.35 67.49 8,715.15

Balance brought forward

Profit available for appropriation


Appropriated For: General Reserve Debenture Redemption Reserve Proposed Final Dividend Tax on Distributed profits

76.91 9,373.12

Balance carried forward

RATIO

COMPANY ANALYSIS
12.05% 67.39% HPCL

REASONS

GROSS PROFIT RATIO

Higher ratio: Greater Profitability Higher ratio: Lower margin of profit

OPERATING RATIO

0.015%

1.97%

ESSAR OIL LIMITED

EXPENSE RATIO

0.85%

2.33%

ESSAR OIL LIMITED

0.75%

0.075%

HPCL

High ratio means lower profitability and inefficiency of management in controlling expenses Higher ratio indicates higher

NET PROFIT RATIO

1.36%

1.24%

ESSAR OIL LIMITED

RATIO CURRENT RATIO 1.07:1 1.35:1

COMPANY ANALYSIS HPCL

REASONS Higher ratio: sound financial position.

QUICK RATIO

0.50:1

0.14:1

ESSAR OIL LIMITED

Higher ratio: sound financial position.

PROPRIETORY RATIO

20.13%

25.58%

HPCL

Higher ratio: lesser dependence on outside fundssound financial position but over capitalization and low returns. Lower ratio indicates low owed funds.

DEBT EQUITY RATIO

2.22:1

1.99:1

HPCL

RATIO RETURN ON CAPITAL EMPLOYED RETURN ON PROPRIETORS FUNDS 3.92% 5.75%

COMPANY ANALYSIS HPCL

REASONS Higher ratio: favorable lower ratio: unfavorable Higher ratio: growing and prosperous company Higher ratio : Effective use of equity capital and advantage of trading on equity Lower ratio: Favorable Higher ratio; Unfavorable

13%

12.26%

HPCL

RETURN ON EQUITY CAPITAL

0.47:1

4.5:1

HPCL

DEBTORS TURNOVER RATIO

20.23 TIMES

46.62TIMES

ESSAR OIL LIMITED

HPCL is preferred for investment as: It has financial sound position as compared to EOL. a. Current ratio b. Quick ratio It indicates lesser dependance on outside funds a. Proprietory Ratio

It indicates low owed funds a. Debt Equity ratio It indicates growing and prosperous company a. Return on proprietors funds b. Return on Equity capital It is profitable a. Gross Profit