financial management of great eastern shipping co.
-
Upload
hemantahire03 -
Category
Business
-
view
834 -
download
2
Transcript of financial management of great eastern shipping co.
India’s largest private sector shipping company Experience and expertise spanning 5 decades. An enviable global reputation.Creating value for customers.The company has two main business:
shipping and offshore. The shipping business is involved in transportation
of crude oil, petroleum products, gas and dry bulk commodities.
The offshore business services to the oil companies in carrying out offshore exploration and production activities, through its wholly owned subsidiary Great ship (India) Limited.
The shipping business has been awarded the ISO 9001: 2000 standard certification by DNV.
G E Shipping owes its success to the foresightedness of two families - the Sheths and the Bhiwandiwallas, who started their own shipping line to help expand the reach of their trading businesses.
In 1948, after obtaining the mothballed Liberty ship, SS Fort Elice, G E Shipping began its maiden voyage under the entrepreneurial genius of Vasant J. Sheth and steered ahead confidently, tasting new waters and exploring new avenues.
From providing sea-logistics support in its initial years to venturing in tramp shipping, to diversifying into offshore oil field services, much against the industry norms, the company has often swum against the tide and in the process, turned the tides in its favor, thereby laying a path for others to follow
200620072007
Sources Of Funds
Total Share Capital152.27152.27152.27
Equity Share Capital152.27152.27152.27
Share Application Money
0.000.0016.02
Preference Share Capital
0.000.000.00
Reserves2,233.922,915.524,005.10
Revaluation Reserves0.000.000.00
Networth2,386.193,067.794,173.39
Secured Loans1,869.152,189.782,484.58
Unsecured Loans0.000.000.00
Total Debt1,869.152,189.782,484.58
Total Liabilities4,255.345,257.576,657.97
Application Of Funds
Gross Block4,343.235,359.386,204.26
Less: Accum. Depreciation
1,587.921,726.971,729.90
Net Block2,755.313,632.414,474.36Capital Work in
Progress109.74180.00358.23
Investments185.79403.61921.35Inventories33.4535.1552.15
Sundry Debtors68.46154.82123.54Cash and Bank Balance11.1715.5110.60
Total Current Assets113.08205.48186.29Loans and Advances96.79125.9198.17
Fixed Deposits1,340.391,049.861,077.96 Total CA , Loans &
Advances1,550.261,381.251,362.42
Deffered Credit0.000.000.00
Current Liabilities324.20244.67310.20Provisions21.5695.03148.19
Total CL & Provisions345.76339.70458.39Net Current Assets1,204.51,041.55904.03
Miscellaneous Expenses00.000.000.00Total Assets4,255.345,257.576,657.97
(In Rs. Crores)
200620072008
Income
Sales Turnover1,928.151,990.602,594.57
Excise Duty000
Net Sales1,928.151,990.602,594.57
Other Income326.38260.5608.94
Stock Adjustments-9.2100
Total Income2,245.322,251.103,203.51
Expenditure
Raw Materials46.7752.1264.35
Power & Fuel Cost170.7237.21290.82
Employee Cost155.16175.36232.12
Other Manufacturing Expenses
328.35245.84295.91
Selling and Admin Expenses
-11.7771.4988.31
Miscellaneous Expenses
24.825.7428.84
Preoperative Exp Capitalised
000
Total Expenses714.01807.761,000.35
Operating Profit1,204.931,182.841,594.22
PBDIT1,531.311,443.342,203.16
Interest277.03268.05459.14
PBDT1,254.281,175.291,744.02
Depreciation282.81265.26340.95
Other Written Off8.0600
Profit Before Tax963.41910.031,403.07
Extra-ordinary items-4.95.420.08
PBT (Post Extra-ord Items)
958.51915.451,403.15
Tax32.3632.1446.34
Reported Net Profit843.5883.311,356.73
Total Value Addition667.24755.64936
Preference Dividend000
Equity Dividend170.88175.11228.41
Corporate Dividend Tax23.9726.638.82
Per share data (annualised)
Shares in issue (lakhs)1,522.741,522.741,522.74
Earning Per Share (Rs)55.3958.0189.1
Equity Dividend (%)100115150
Book Value (Rs)156.7201.47273.02
(in Rs. Crores)
200620072008
Net Profit Before Tax875.77909.891402.93
Net Cash From Operating Activities
1345.121028.951666.38
Net Cash (used in)/fromInvesting Activities
-664.52-1383.68
-1740.11
Net Cash (used in)/from Financing Activities
-361.3567.43106.54
Net (decrease)/increase InCash and Cash Equivalents
319.25-287.31088.56
Opening Cash & Cash Equivalents
1048.21367.4524.4
Closing Cash & Cash Equivalents
1367.451080.151112.96
Financial Year2007-082006-07
Profitability Ratios
Operating Profit margin57.20%51.50%
Net profit Margin42.30%39%
Capitalization Ratios
Debt-Equity Ratios0.60.71
Interest Service Coverage Ratio12.6811.96
1) Operating Profit Margin = income from operations – operating & administrative exp.
Income from Operation2) Net Profit Margin = Profit after Tax
Total Income3) Debt-Equity Ratio = Loans Funds
Shareholder’s fund – miscellaneous
Expenditure4) Interest Service = PBT + Int. & financial charges +
Depreciation Coverage Ratio Int. & financial charges
05000
100001500020000250003000035000
2008 2007 2006
Total RevenuePBDIT
DepreciationInterestTax ProvisionPAT
EPS
200820072006
Total Revenue32,03522,51123,420
PBDIT**18,93112,82313,430
Depreciation3,4092,6522,828
Interest14921072969
Tax provision462320323
PAT13,56888338,386
EPS (Rs.)89.1158.0155.07
In Rs. million