Financial Statements and Industry Structure 143Exhibit 6.1 Balance sheet (in percent) and financial data
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Structure of total assets (%)
Net fixed assets 27.96 63.85 32.2 0.83 46.87 30.74
Capital WIP 0 0 9.85 0 5.27 3.24
Investments 0 1.05 3.26 39.21 20.61 7.45
Inventories 0.38 6.01 0 0 4.06 14.78
Cash & bank balance 8.74 10.63 22.23 19.37 13.49 1.82
Receivables 54.56 18.24 42.3 40.57 14.25 36.04
Sundry debtors 16.64 12.24 17.46 0 7.46 26.72
Intangible assets 8.36 0.21 0 0 0.73 9.16
Advances N.A. N.A. N.A. N.A. N.A. N.A.
Total of assets 100 100 100 100 100 100
Structure of total liabilities (%)
Net worth 78.17 6.23 80.24 3.57 50 47.2
Capital 74.9 2.63 1.91 0.17 2.6 3.26
Reserves & surplus 3.27 3.59 78.33 3.4 47.41 43.94
Free reserves 3.27 0.89 77.99 3.4 32.36 42.4
Borrowings 17.29 54.74 0 4.83 34.07 39.44
Current liabilities & provisions 4.54 39.04 19.76 91.6 15.93 13.36
Deposits N.A. N.A. N.A. N.A. N.A. N.A.
Total of liabilities 100 100 100 100 100 100
Composition of total borrowings (%)
Bank borrowings 6.45 100 0 N.A. 0 62.96
Short-term bank borrowings 0 48.45 0 N.A. 0 62.96
Institutional borrowings 0 0 0 70.71 24.32 21.67
Loans from corporate bodies 92.17 0 0 0 1.67 0
Group/associate companies 000000
Debentures 0 0 0 29.29 27.48 7.83
Fixed deposits 0 0 0 N.A. 2.96 0
Govt/sales tax deferrals 0 0 0 N.A. 0 2
Other borrowings 1.38 0 0 N.A. 43.57 5.54
Total borrowings 100 100 100 100 100 100
Relevant ratios
Current ratio 14.7 0.51 2.7 1.97 2.41 1.44
Quick ratio 4.77 0.32 2.01 1.66 1.75 0.71
Debt equity ratio 0.22 8.79 0 1.35 0.68 0.84
Interest coverage ratio 2.81 0.94 336.53 1.14 2.69 5.07
Net profit/net sales 14 –0.61 33.67 4.92 8.56 14.67
Debtors collection (days) 108.04 49.92 42.11 135.39 46.85 76.06
Creditors payables (days) 33.45 69.89 5.53 784.56 73.55 43.67
Working capital cycle (days) 5.11 N.A. 568.54 N.A. 917.49 113.96
R&D/sales N.A. N.A. 0.9% N.A. 0.04% 4.2%
Return on investments 12.00% 19.00% 64.19% N.A. 13.94% 43.8%
Fixed assets turnover N.A. N.A. 4.15 N.A. 1.08 2.83
Working capital turnover N.A. N.A. 3.34 N.A. 3.68 8.70
Solvency ratios N.A. 8.03 5.13 2.07 2.63