Summer Training Reporton Dabur India Ltd. (Working Capital Analysis of Major FMCG Companies) For Bba and Mba Students

P a g e | 28
SUMMER TRAINING REPORT ON DABUR INDIA LTD. (WORKING CAPITAL ANALYSIS OF MAJOR FMCG COMPANIES)
Submitted to MAHARSHI DAYANAND UNIVERSITY, ROHTAK IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE AWARD OF THE DEGREE OF BACHELOR OF BUSINESS ADMINISTRATION (INDUSTRY INTEGRATED) (II SEMESTER) SUBMITTED BY NAME : SANDEEP SHEORAN REGN. NO. : ROLL NO. :
JAGANNATH INSTITUTE OF MANAGEMENT SCIENCES (34,RING ROAD,LAJPAT NAGAR IV,NEW DELHI-24)
P a g e | 28
CERTIFICATE
This is to certify that SANDEEP SHEORAN, a student of the Maharshi Dayanand University, Rohtak, has prepared his training report entitled WORKING CAPITAL ANALYSIS OF MAJOR FMCG COMPANIES at Jagannath institute of management sciences, under my guidance. He has fulfilled all requirements leading to award of the degree of BBA(Industry integrated). This report is the record of bonafide training undertaken by him and no part of it has been submitted to any other University or Educational Institution for award of any other degree/diploma/fellowship or similar titles or prizes.
I wish him all success in life.
P a g e | 28
STUDENTS DECLARATION
I hereby declare that the Training Report conducted at DABUR INDIA LTD, SHAHIBABAD Under the guidance of ( MR R.S DANI )
Submitted in Partial fulfillment of the requirements for the Degree of BACHELOR OF BUSINESS ADMINISTRATION (Industry Integrated) To MAHARSHI DAYANAND UNIVERSITY, ROHTAK
is my original work and the same has not been submitted for the award of any other Degree/diploma/fellowship or other similar titles or prizes.
SANDEEP SHEORAN REGN. NO. : PLACE: DATE: ROLL NO. :
P a g e | 28
ACKNOWLEDGEMENT
I am grateful to Mr. R.S Dani, Dabur India Ltd. For being a constant source of guidance during my training period. His support helped me to accomplish the project.
I am very confident that this project will help me in my future.
Sandeep Sheoran BBA- B JIMS, Lajpat nagar
P a g e | 28
CONTENTS
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. About company Dabur at a glance History of the dabur Dabur group Board of directors Objectives of study Methodology Findings Calculation of Net Working Capital Conclusion Table of net working capital Bibliography Page 1 Page 2 Page 4 Page 8 Page 9 Page 11 Page 12 Page 16 Page 31 Page 41 Page 46 Page 47
P a g e | 28
ABOUT COMPANY
"What is that life worth which cannot bring comfort to others"

The doorstep 'Daktar' The story of Dabur began with a small, but visionary endeavour by Dr. S. K. Burman, a physician tucked away in Bengal. His mission was to provide effective and affordable cure for ordinary people in farflung villages. With missionary zeal and fervour, Dr. Burman undertook the task of preparing natural cures for the killer diseases of those days, like cholera, malaria and plague.
Soon the news of his medicines traveled, and he came to be known as the trusted 'Daktar' or Doctor who came up with effective cures. And that is how his venture Dabur got its name - derived from the Devanagri rendition of Daktar Burman.
Dr. Burman set up Dabur in 1884 to produce and dispense Ayurvedic medicines. Reaching out to a wide mass of people who had no access to proper treatment. Dr. S. K. Burman's commitment and ceaseless efforts resulted in the company growing from a fledgling medicine manufacturer in a small Calcutta house, to a household name that at once evokes trust and reliability.
P a g e | 28
Dabur At-a-Glance
Dabur India Limited has marked its presence with significant achievements and today commands a market leadership status. Our story of success is based on dedication to nature, corporate and process hygiene, dynamic leadership and commitment to our partners and stakeholders. The results of our policies and initiatives speak for themselves.
Leading consumer goods company in India with a turnover of Rs. 2874.60 Crore (FY10) 3 major strategic business units (SBU) - Consumer Care Division (CCD), Consumer Health Division (CHD) and International Business Division (IBD) 3 Subsidiary Group companies - Dabur International, Fem Care Pharma and newu and 8 step down subsidiaries: Dabur Nepal Pvt Ltd (Nepal), Dabur Egypt Ltd (Egypt), Asian Consumer Care (Bangladesh), Asian Consumer Care (Pakistan), African Consumer Care (Nigeria), Naturelle LLC (Ras Al KhaimahUAE), Weikfield International (UAE) and Jaquline Inc. (USA). 17 ultra-modern manufacturing units spread around the globe Products marketed in over 60 countries Wide and deep market penetration with 50 C&F agents, more than 5000 distributors and over2.8 million retail outlets all over India
Consumer Care Division (CCD) adresses consumer needs across the entire FMCG spectrum through four distinct business portfolios of Personal Care, Health Care, Home Care & Foods
Master brands: Dabur - Ayurvedic healthcare products Vatika - Premium hair care Hajmola - Tasty digestives Ral - Fruit juices & beverages Fem - Fairness bleaches & skin care products 9 Billion-Rupee brands: Dabur Amla, Dabur Chyawanprash,Vatika, Ral, Dabur Red Toothpaste, Dabur Lal Dant Manjan,Babool, Hajmola and Dabur Honey Strategic positioning of Honey as food product, leading to market leadership (over 75%) in branded honey market Dabur Chyawanprash the largest selling Ayurvedic medicine with over 65% market share. Vatika Shampoo has been the fastest selling shampoo brand in India for three years in a row Hajmola tablets in command with 60% market share of digestive tablets category. About 2.5 crore Hajmola tablets are consumed in India every day Leader in herbal digestives with 90% market share
P a g e | 28
Consumer Health Division (CHD) offers a range of classical Ayurvedic medicines and Ayurvedic OTC products that deliver the age-old benefits of Ayurveda in modern ready-touse formats

Has more than 300 products sold through prescriptions as well as over the counter Major categories in traditional formulations include: - Asav Arishtas - Ras Rasayanas - Churnas - Medicated Oils Proprietary Ayurvedic medicines developed by Dabur include: - Nature Care Isabgol - Madhuvaani - Trifgol Division also works for promotion of Ayurveda through organised community of traditional practitioners and developing fresh batches of students
International Business Division (IBD) caters to the health and personal care needs of customers across different international markets, spanning the Middle East, North & West Africa, EU and the US with its brands Dabur & Vatika
Growing at a CAGR of 33% in the last 6 years and contributes to about 20% of total sales Leveraging the 'Natural' preference among local consumers to increase share in perosnal care categories Focus markets: - GCC - Egypt - Nigeria - Bangladesh - Nepal - US High level of localization of manufacturing and sales & marketing
P a g e | 28
HISTORY
1884 - Established by Dr. S K Burman at Kolkata 1896 - First production unit established at Garhia 1919 - First R&D unit established Early 1900s - Production of Ayurvedic medicines Dabur identifies nature-based Ayurvedic medicines as its area of specialisation. It is the first Company to provide health care through scientifically tested and automated production of formulations based on our traditional science. 1930 - Automation and upgradation of Ayurvedic products manufacturing initiated 1936 - Dabur (Dr. S K Burman) Pvt. Ltd. Incorporated 1940 - Personal care through Ayurveda Dabur introduces Indian consumers to personal care through Ayurveda, with the launch of Dabur Amla Hair Oil. So popular is the product that it becomes the largest selling hair oil brand in India. 1949 - Launched Dabur Chyawanprash in tin pack Widening the popularity and usage of traditional Ayurvedic products continues. The ancient restorative Chyawanprash is launched in packaged form, and becomes the first branded Chyawanprash in India. 1957 - Computerisation of operations initiated 1970 - Entered Oral Care & Digestives segment Addressing rural markets where homemade oral care is more popular than multinational brands, Dabur introduces Lal Dant Manjan. With this a conveniently packaged herbal toothpowder is made available at affordable costs to the masses. 1972 - Shifts base to Delhi from Calcutta 1978 - Launches Hajmola tablet Dabur continues to make innovative products based on traditional formulations that can provide holistic care in our daily life. An Ayurvedic medicine used as a digestive aid is branded and launched as the popular Hajmola tablet. 1979 - Dabur Research Foundation set up 1979 - Commercial production starts at Sahibabad, the most modern herbal medicines plant at that time
P a g e | 28
1984 - Dabur completes 100 years 1988 - Launches pharmaceutical medicines 1989 - Care with fun The Ayurvedic digestive formulation is converted into a children's fun product with the launch of Hajmola Candy. In an innovative move, a curative product is converted to a confectionary item for wider usage. 1994 - Comes out with first public issue 1994 - Enters oncology segment 1994 - Leadership in health care Dabur establishes its leadership in health care as one of only two companies worldwide to launch theanti-cancer drug Intaxel (Paclitaxel). Dabur Research Foundation develops an eco-friendly process to extract the drug from its plant source 1996 - Enters foods business with the launch of Real Fruit Juice 1996 - Real blitzkrieg Dabur captures the imagination of young Indian consumers with the launch of Real Fruit Juices - a new concept in the Indian foods market. The first local brand of 100% pure natural fruit juices made to international standards, Real becomes the fastest growing and largest selling brand in the country. 1998 - Burman family hands over management of the company to professionals 2000 - The 1,000 crore mark Dabur establishes its market leadership status by staging a turnover of Rs.1,000 crores. Across a span of over a 100 years, Dabur has grown from a small beginning based on traditional health care. To a commanding position amongst an august league of large corporate businesses. 2001 - Super specialty drugs With the setting up of Dabur Oncology's sterile cytotoxic facility, the Company gains entry into the highly specialised area of cancer therapy. The state-of-the-art plant and laboratory in the UK have approval from the MCA of UK. They follow FDA guidelines for production of drugs specifically for European and American markets. 2002 - Dabur record sales of Rs 1163.19 crore on a net profit of Rs 64.4 crore
P a g e | 28
2003 - Dabur demerges Pharmaceuticals business Dabur India approved the demerger of its pharmaceuticals business from the FMCG business into a separate company as part of plans to provider greater focus to both the businesses. With this, Dabur India now largely comprises of the FMCG business that include personal care products, healthcare products and Ayurvedic Specialities, while the Pharmaceuticals business would include Allopathic, Oncology formulations and Bulk Drugs. Dabur Oncology Plc, a subsidiary of Dabur India, would also be part of the Pharmaceutical business. Maintaining global standards As a reflection of its constant efforts at achieving superior quality standards, Dabur became the first Ayurvedic products company to get ISO 9002 certification. Science for nature Reinforcing its commitment to nature and its conservation, Dabur Nepal, a subsidiary of Dabur India, has set up fully automated greenhouses in Nepal. This scientific landmark helps to produce saplings of rare medicinal plants that are under threat of extinction due to ecological degradation. 2005 - Dabur aquires Balsara As part of its inorganic growth strategy, Dabur India acquires Balsara's Hygiene and Home products businesses, a leading provider of Oral Care and Household Care products in the Indian market, in a Rs 143-crore all-cash deal. 2005 - Dabur announces bonus after 12 years Dabur India announced issue of 1:1 Bonus share to the shareholders of the company, i.e. one share for every one share held. The Board also proposed an increase in the authorized share capital of the company from existing Rs 50 crore to Rs 125 crore. 2006 - Dabur crosses $2 bln market cap, adopts US GAAP. Dabur India crosses the $2-billion mark in market capitalisation. The company also adopted US GAAP in line with its commitment to follow global best practices and adopt highest standards of transparency and governance. 2006 - Approves FCCB/GDR/ADR up to $200 million Moving forward on the inorganic growth path, Dabur India decides to
P a g e | 28
raise up to $200 million from the international market through Bonds, FCCBs, GDR, ADR, QIPs or any other securities.The capital raised will be used to fund Dabur's aggressive growth ambitions and acquisition plans in India and abroad. 2007 - Celebrating 10 years of Real Dabur Foods unveiled the new packaging and design for Real at the completion of 10 years of the brand. The new refined modern look depicts the natural goodness of the juice from freshly plucked fruits. 2007 - Foray into organised retail Dabur India announced its foray into the organised retail business through a wholly-owned subsidiary, H&B Stores Ltd. Dabur will invest Rs 140 crores by 2010 to establish its presence in the retail market in India with a chain of stores on the Health & Beauty format. 2007 - Dabur Foods merged with Dabur India Dabur India decides to merge its wholly-owned subsidiary Dabur Foods Limited with itself to extract synergies and unlock operational efficiencies. The integration will also help Dabur sharpen focus on the high growth business of foods and beverages, and enter newer product categories in this space. 2008 - Acquires Fem Care Pharma Dabur India acquires Fem Care Pharma, a leading player in the women's skin care market. Besides an entry into the high-growth skin care market with an established brand name FEM, this transaction also offers Dabur a strong platform to enter newer product categories and markets. 2009 - Dabur Red Toothpaste joins 'Billion Rupee Brands' club Dabur Red Toothpaste becomes the Dabur's ninth Billion Rupee brand. Dabur Red Toothpaste crosses the billion rupee turnover mark within five years of its launch.
P a g e | 28
Dabur Group
With a basket including personal care, health care and food products, Dabur India Limited has set up subsidiary Group Companies across the world that can manage its businesses more efficiently. Given the vast range of products, sourcing, production and marketing have been divested to the group companies that conduct their operations
independently:
P a g e | 28
Board of Directors
Dabur has an illustrious Board of Directors who are committed to take the company to newer levels of corporate governance. The Board comprises of:
Chairman Dr Anand Burman
Vice Chairman Mr Amit Burman
Whole Time Directors
Mr. P.D. Narang
Mr. Sunil Duggal
Mr. Pradip Burman
Non Whole Time Promoters, Directors
Mr. Mohit Burman
P a g e | 28
Independent Directors
Mr. Bert Paterson
Mr. P. N. Vijay
Mr. R C Bhargava
Dr. S. Narayan
Mr. Analjit Singh
Dr. Ajay Dua
P a g e | 28
Objectives of Study
To analyze the financial position of DABUR. To analyze the liquidity position of DABUR.
P a g e | 28
Methodology
Working capital analysis of major FMCG companies Working capital
Working capital (abbreviated WC) is a financial metric which represents operating liquidity available to a business, organization, or other entity, including governmental entity. Along with fixed assets such as plant and equipment, working capital is considered a part of operating capital. Net working capital is calculated as current assets minus current liabilities. It is a derivation of working capital that is commonly used in valuation techniques such as DCFs (Discounted cash flows). If current assets are less than current liabilities, an entity has a working capital deficiency, also called aworking capital deficit.
Net Working Capital = Current Assets Current Liabilities Net Operating Working Capital = Current Assets Non Interest-bearing Current Liabilities Equity Working Capital = Current Assets Current Liabilities Long-term Debt
A company can be endowed with assets and profitabilitybut short of liquidity if its assets cannot readily be converted into cash. Positive working capital is required to ensure that a firm is able to continue its operations and that it has sufficient funds to satisfy both maturing short-term debt and upcoming operational expenses. The management of working capital involves managing inventories, accounts receivable and payable, and cash.
Current Assets
In accounting, a current asset is an asset on the balance sheet which can either be converted to cash or used to pay current liabilities within 12 months. Typical current assets include cash, cash equivalents, short-term investments, accounts receivable, inventory and the portion of prepaid liabilities which will be paid within a year.
P a g e | 28
On a balance sheet, assets will typically be classified into current assets and long-term assets. The current ratio is calculated by dividing total current assets by total current liabilities. It is frequently used as an indicator of a company's liquidity, its ability to meet short-term obligations.
Current liabilities
In accounting, current liabilities are often understood as all liabilities of the business that are to be settled in cash within the fiscal year or the operating cycle of a given firm, whichever period is longer. A more complete definition is that current liabilities are obligations that will be settled by current assets or by the creation of new current liabilities. An operating cycle for a firm is the average time that is required to go from cash to cash in producing revenues. For example, accounts payable for goods, services or supplies that were purchased for use in the operation of the business and payable within a normal period of time would be current liabilities. Bonds, mortgages and loans that are payable over a term exceeding one year would be fixed liabilities or long-term liabilities. However, the payments due on the long-term loans in the current fiscal year could be considered current liabilities if the amounts were material. The proper classification of liabilities provides useful information to investors and other users of the financial statements. It may be regarded as essential for allowing outsiders to consider a true picture of an organization's fiscal health. One application is in the current ratio, defined as the firm's current assets divided by its current liabilities. A ratio higher than one means that current assets, if they can all be converted to cash, are more than sufficient to pay off current obligations. All other things equal, higher values of this ratio imply that a firm is more easily able to meet its obligations in the coming year.
Calculation
Current assets and current liabilities include three accounts which are of special importance. These accounts represent the areas of the business where managers have the most direct impact:

accounts receivable (current asset) inventory (current assets), and
P a g e | 28
accounts payable (current liability)
The current portion of debt (payable within 12 months) is critical, because it represents a short-term claim to current assets and is often secured by long term assets. Common types of short-term debt are bank loans and lines of credit. An increase in working capital indicates that the business has either increased current assets (that is has increased its receivables, or other current assets) or has decreased current liabilities, for example has paid off some short-term creditors. Implications on M&A: The common commercial definition of working capital for the purpose of a working capital adjustment in an M&A transaction (i.e. for a working capital adjustment mechanism in a sale and purchase agreement) is equal to: Current Assets Current Liabilities excluding deferred tax assets/liabilities, excess cash, surplus assets and/or deposit balances. Cash balance items often attract a one-for-one purchase price adjustment.
Working capital management

Decisions relating to working capital and short term financing are referred to as working capital management. These involve managing the relationship between a firm's short-term assets and its short-term liabilities. The goal of working capital management is to ensure that the firm is able to continue its operations and that it has sufficient cash flow to satisfy both maturing short-term debt and upcoming operational expenses.
Decision criteria
By definition, working capital management entails short term decisions - generally, relating to the next one year period - which are "reversible". These decisions are therefore not taken on the same basis as Capital Investment Decisions (NPV or related, as above) rather they will be based on cash flows and / or profitability.
One measure of cash flow is provided by the cash conversion cycle - the net number of days from the outlay of cash for raw material to receiving payment from the customer. As a management tool, this metric makes explicit the inter-relatedness of decisions relating to inventories, accounts receivable and payable, and cash. Because this number effectively corresponds to the time that the firm's cash is tied up in operations and unavailable for other activities, management generally aims at a low net count.
P a g e | 28
In this context, the most useful measure of profitability is Return on capital (ROC). The result is shown as a percentage, determined by dividing relevant income for the 12 months bycapital employed; Return on equity (ROE) shows this result for the firm's shareholders. Firm value is enhanced when, and if, the return on capital, which results from working capital management, exceeds the cost of capital, which results from capital investment decisions as above. ROC measures are therefore useful as a management tool, in that they link short-term policy with long-term decision making. See Economic value added (EVA).
Credit policy of the firm: Another factor affecting working capital management is credit policy of the firm. It includes buying of raw material and selling of finished goods either in cash or on credit. This affects the cash conversion cycle.
Management of working capital

Guided by the above criteria, management will use a combination of policies and techniques for the management of working capital. These policies aim at managing the current assets (generally cashand cash equivalents, inventories and debtors) and the short term financing, such that cash flows and returns are acceptable.
Cash management. Identify the cash balance which allows for the business to meet day to day expenses, but reduces cash holding costs. Inventory management. Identify the level of inventory which allows for uninterrupted production but reduces the investment in raw materials - and minimizes reordering costs - and hence increases cash flow. Besides this, the lead times in production should be lowered to reduce Work in Progress (WIP) and similarly, the Finished Goods should be kept on as low level as possible to avoid over production - see Supply chain management; Just In Time (JIT); Economic order quantity(EOQ); Economic quantity Debtors management. Identify the appropriate credit policy, i.e. credit terms which will attract customers, such that any impact on cash flows and the cash conversion cycle will be offset by increased revenue and hence Return on Capital (or vice versa); see Discounts and allowances. Short term financing. Identify the appropriate source of financing, given the cash conversion cycle: the inventory is ideally financed by credit granted by the supplier; however, it may be necessary to utilize a bank loan (or overdraft), or to "convert debtors to cash" through "factoring".
P a g e | 28
Findings
Fundamentals of Major FMCG Giants Dabur India Ltd.
Yearly Results of Dabur India Mar '06 ------------------- in Rs. Cr. ------------------Mar '07 Mar '08 Mar '09 Mar '10
Sales Turnover Other Income Total Income Total Expenses Operating Profit Extraordinary Income/Expenses Tax On Extraordinary Items Net Extra Ordinary Income/Expenses Gross Profit Interest PBDT Depreciation Depreciation On Revaluation Of Assets PBT Tax Net Profit Prior Years Income/Expenses Depreciation for Previous Years Written Back/ Provided Equity Dividend rate Earnings Per Share Book Value Equity Reserves Face Value
1,369.68 5.35 1,375.03 1,135.97 233.71 0.51 --239.06 5.66 233.91 19.05 -214.86 25.78 189.08 --175 3.30 -57.33 390.54 1.00
1,778.02 16.51 1,794.53 1,477.41 300.61 ---317.12 4.43 312.69 28.47 -284.22 32.14 252.08 --141 2.92 -86.29 316.90 1.00
2,083.40 27.91 2,111.31 1,706.16 377.24 ---405.15 8.55 396.60 31.42 -365.18 48.41 316.77 -0.86 -150 3.67 -86.40 441.92 1.00
2,417.91 21.32 2,439.23 1,973.47 444.44 ---465.76 13.34 452.42 27.42 -425.00 51.44 373.56 --175 4.32 -86.51 651.69 1.00
2,874.60 15.11 2,889.71 2,325.17 549.43 ---564.54 5.60 558.76 31.91 -526.85 93.70 433.15 -0.18 -200 4.98 -86.90 662.48 1.00
P a g e | 28
Profit and loss account (Dabur India Ltd.)

Mar ' 10 Income Operating income Expenses Material consumed Manufacturing expenses Personnel expenses Selling expenses Adminstrative expenses Expenses capitalised Cost of sales Operating profit Other recurring income Adjusted PBDIT Financial expenses Depreciation Other write offs Adjusted PBT Tax charges Adjusted PAT Non recurring items Other non cash adjustments Reported net profit Earnigs before appropriation Equity dividend Preference dividend Dividend tax Retained earnings 2,867.42 1,384.29 58.17 212.34 474.79 187.90 2,317.49 549.93 14.85 564.78 13.28 31.91 5.66 513.93 93.70 420.23 13.10 -0.19 433.14 862.08 173.60 29.50 658.98 Mar ' 09 2,408.33 1,232.85 54.22 167.32 358.75 153.67 1,966.81 441.52 10.72 452.24 14.47 27.42 3.94 406.41 51.44 354.97 18.58 -0.72 372.84 696.07 151.39 25.73 518.95 Mar ' 08 2,093.63 1,023.94 54.02 149.69 337.69 138.69 1,704.03 389.60 9.76 399.36 10.92 25.75 5.67 357.01 48.40 308.61 8.16 -0.86 315.92 545.07 129.60 22.03 393.44 Mar ' 07 1,745.14 778.27 39.24 118.66 403.42 100.90 1,440.48 304.66 3.14 307.80 4.43 21.98 6.49 274.90 32.15 242.76 9.32 -0.13 251.94 426.95 122.13 17.13 287.70 Mar ' 06 1,345.50 582.43 27.10 98.31 316.46 80.24 1,104.55 240.95 1.05 242.01 5.73 19.05 4.26 212.97 25.78 187.19 1.90 0.21 189.29 314.52 100.32 14.07 200.13
P a g e | 28
Balance sheet (Dabur India Ltd.)

Mar ' 10 Sources of funds Owner's fund Equity share capital Share application money Preference share capital Reserves & surplus Loan funds Secured loans Unsecured loans Total Uses of funds Fixed assets Gross block Less : revaluation reserve Less : accumulated depreciation Net block Capital work-in-progress Investments Net current assets Current assets, loans & advances Less : current liabilities & provisions Total net current assets Miscellaneous expenses not written Total Notes: Book value of unquoted investments Market value of quoted investments Contingent liabilities Number of equity shares outstanding (Lacs) Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06
86.76 0.14 662.48 24.27 81.80 855.45
86.51 651.69 8.26 130.72 877.17
86.40 441.92 16.45 0.24 545.01
86.29 316.90 19.28 0.26 422.73
57.33 390.54 19.23 1.25 468.35
687.23 236.28 450.95 23.31 348.51 941.77 911.83 29.94 2.74 855.45 98.60 250.52 173.48 8675.86
518.77 210.45 308.32 51.71 232.05 973.42 696.97 276.45 8.64 877.17 319.12 118.48 174.15 8650.76
467.93 189.77 278.17 16.26 270.37 576.82 610.57 -33.75 13.95 545.01 67.99 205.19 171.24 8640.23
404.30 168.97 235.33 3.71 145.35 397.78 379.27 18.52 19.82 422.73 65.99 80.82 153.25 8628.84
328.23 142.46 185.77 13.07 275.08 285.68 324.12 -38.44 32.87 468.35 234.43 43.43 190.02 5733.03
P a g e | 28
ITC Ltd.
Yearly Results of ITC Mar '06 Sales Turnover Other Income Total Income Total Expenses Operating Profit Extraordinary Income/Expenses Tax On Extraordinary Items Net Extra Ordinary Income/Expenses Gross Profit Interest PBDT Depreciation Depreciation On Revaluation Of Assets PBT Tax Net Profit Prior Years Income/Expenses Depreciation for Previous Years Written Back/ Provided Equity Dividend Rate Earnings Per Share Book Value Equity Reserves Face Value 9,790.53 286.08 10,076.61 6,463.15 3,327.38 -45.02 --3,613.46 11.93 3,556.51 332.34 -3,224.17 988.82 2,235.35 --265 5.95 -375.52 8,626.77 1.00 ------------------- in Rs. Cr. ------------------Mar '07 12,369.30 336.49 12,705.79 8,412.89 3,956.41 ---4,292.90 3.28 4,289.62 362.92 -3,926.70 1,226.73 2,699.97 --310 7.18 -376.22 10,003.78 1.00 Mar '08 13,947.53 610.90 14,558.43 9,543.59 4,403.94 ---5,014.84 4.61 5,010.23 438.46 -4,571.77 1,451.67 3,120.10 --350 8.28 -376.86 11,624.69 1.00 Mar '09 15,582.73 340.31 15,923.04 10,529.57 5,053.16 ---5,393.47 18.32 5,375.15 549.41 -4,825.74 1,562.15 3,263.59 --370 8.65 -377.44 13,302.55 1.00 Mar '10 18,382.24 374.33 18,756.57 12,079.19 6,303.05 ---6,677.38 53.36 6,624.02 608.71 -6,015.31 1,954.31 4,061.00 --1000 10.64 -381.82 13,628.17 1.00
P a g e | 28
Profit and loss account (ITC Ltd.)

Mar ' 10 Income Operating income Expenses Material consumed Manufacturing expenses Personnel expenses Selling expenses Adminstrative expenses Expenses capitalised Cost of sales Operating profit Other recurring income Adjusted PBDIT Financial expenses Depreciation Other write offs Adjusted PBT Tax charges Adjusted PAT Non recurring items Other non cash adjustments Reported net profit Earnigs before appropriation Equity dividend Preference dividend Dividend tax Retained earnings 18,567.45 7,588.23 801.13 1,014.87 1,238.24 1,864.54 -71.88 12,435.13 6,132.32 496.27 6,628.59 90.28 608.71 5,929.60 1,965.43 3,964.17 48.78 48.65 4,061.60 4,919.74 3,818.18 634.15 467.41 Mar ' 09 14,985.81 6,234.66 797.00 903.37 1,067.83 1,133.48 -72.55 10,063.79 4,922.02 422.80 5,344.82 47.65 549.41 4,747.76 1,565.13 3,182.63 3.41 81.52 3,267.56 3,992.01 1,396.53 237.34 2,358.14 Mar ' 08 14,032.20 6,275.33 383.42 745.00 1,044.40 1,266.57 -112.75 9,601.97 4,430.23 479.82 4,910.05 24.61 438.46 4,446.98 1,480.97 2,966.01 36.68 117.41 3,120.10 3,767.63 1,319.01 224.17 2,224.45 Mar ' 07 12,313.83 5,484.52 318.32 630.15 803.29 1,116.23 -42.52 8,309.99 4,003.84 300.14 4,303.98 16.04 362.92 3,925.02 1,263.07 2,661.95 -23.92 61.94 2,699.97 3,262.03 1,166.29 198.21 1,897.53 Mar ' 06 9,798.33 4,130.04 295.25 541.40 627.00 853.39 -15.78 6,431.30 3,367.03 273.22 3,640.25 21.10 332.34 3,286.81 1,027.57 2,259.24 -70.02 46.13 2,235.35 2,846.76 995.12 139.58 1,712.06
P a g e | 28
Balance sheet (ITC Ltd.)

Mar ' 10 Sources of funds Owner's fund Equity share capital Share application money Preference share capital Reserves & surplus Loan funds Secured loans Unsecured loans Total Uses of funds Fixed assets Gross block Less : revaluation reserve Less : accumulated depreciation Net block Capital work-in-progress Investments Net current assets Current assets, loans & advances Less : current liabilities & provisions Total net current assets Miscellaneous expenses not written Total Notes: Book value of unquoted investments Market value of quoted investments Contingent liabilities Number of equity sharesoutstanding (Lacs) Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06
381.82 377.44 376.86 376.22 13,628.17 13,302.55 11,624.69 10,003.78 11.63 5.57 60.78 107.71 165.92 208.86 140.10 14,117.70 13,857.54 12,215.98 10,580.88
375.52 8,626.79 25.91 93.82 9,122.04
11,967.86 10,558.65 54.39 55.09 3,825.46 3,286.74 8,088.01 7,216.82 1,008.99 1,214.06 5,726.87 2,837.75
8,959.70 56.12 2,790.87 6,112.71 1,126.82 2,934.55
7,134.31 57.08 2,389.54 4,687.69 1,130.20 3,067.77
6,227.17 59.17 2,065.44 4,102.56 399.97 3,517.01 5,228.49 4,125.99 1,102.50 9,122.04
8,463.31 8,450.99 7,306.99 6,281.07 9,169.48 5,862.08 5,265.09 4,585.85 -706.17 2,588.91 2,041.90 1,695.22 14,117.70 13,857.54 12,215.98 10,580.88 5,108.69 1,355.62 258.73 38181.77 2,861.88 9.12 261.36 37744.00 2,958.68 13.42 308.08 37686.10
3,091.90 3,541.14 13.30 13.46 129.56 98.72 37622.23 37551.79
P a g e | 28
Godrej Consumer Products Ltd.

Yearly Results of Godrej Consumer Products Mar '06 Sales Turnover Other Income Total Income Total Expenses Operating Profit Extraordinary Income/Expenses Tax On Extraordinary Items Net Extra Ordinary Income/Expenses Gross Profit Interest PBDT Depreciation Depreciation On Revaluation Of Assets PBT Tax Net Profit Prior Years Income/Expenses Depreciation for Previous Years Written Back/ Provided Equity Dividend Rate Earnings Per Share Book Value Equity Reserves Face Value 657.32 8.66 665.98 519.88 137.44 ---146.10 4.04 142.06 10.79 -131.27 10.57 120.70 0.50 -350 21.38 -22.58 53.57 4.00 ------------------- in Rs. Cr. ------------------Mar '07 758.52 5.30 763.82 611.09 147.43 10.13 --152.73 5.84 157.02 12.49 -144.53 12.37 132.16 --375 5.85 -22.58 88.32 1.00 Mar '08 887.59 8.70 896.29 702.55 185.04 ---193.74 8.82 184.92 15.70 -169.22 21.12 148.10 --411 6.56 -22.58 127.91 1.00 Mar '09 1,088.01 10.26 1,098.27 924.03 163.98 0.64 --174.24 -26.05 200.93 14.37 -186.56 25.01 161.55 --401 6.29 -25.70 511.22 1.00 Mar '10 1,267.88 50.60 1,318.48 1,001.93 265.95 ---316.55 3.66 312.89 13.75 -299.14 51.02 248.12 --408 8.05 -30.82 796.65 1.00
P a g e | 28
Profit and loss account (Godrej Consumer Products Ltd.)

Mar ' 10 Income Operating income Expenses Material consumed Manufacturing expenses Personnel expenses Selling expenses Adminstrative expenses Expenses capitalised Cost of sales Operating profit Other recurring income Adjusted PBDIT Financial expenses Depreciation Other write offs Adjusted PBT Tax charges Adjusted PAT Non recurring items Other non cash adjustments Reported net profit Earnigs before appropriation Equity dividend Preference dividend Dividend tax Retained earnings 1,274.20 567.56 53.29 120.94 216.95 41.86 1,000.60 273.60 40.27 313.87 3.66 13.75 296.46 51.03 245.43 2.68 248.12 346.26 125.86 21.39 199.02 Mar ' 09 1,095.87 627.65 53.75 58.44 145.52 40.11 925.47 170.41 39.82 210.23 8.82 14.37 187.04 25.01 162.02 -1.11 0.64 161.55 234.79 102.98 17.50 114.30 Mar ' 08 891.92 422.80 40.58 54.60 136.04 39.24 693.27 198.65 5.32 203.97 10.38 15.70 177.89 21.12 156.77 -8.66 148.12 196.61 92.76 15.76 88.09 Mar ' 07 760.85 372.13 37.47 40.50 115.67 42.83 608.59 152.26 4.06 156.32 7.59 12.49 136.24 17.18 119.06 8.29 4.81 132.16 159.12 84.69 12.72 61.72 Mar ' 06 655.62 307.72 30.60 43.15 99.47 36.30 517.24 138.38 7.10 145.48 4.44 10.78 130.25 10.57 119.68 1.02 0.50 121.20 129.24 79.05 11.09 39.11
P a g e | 28
Balance sheet (Godrej Consumer Products Ltd.)

30.82 796.65 12.40 839.86
25.70 511.22 14.89 48.00 599.81
22.58 127.91 40.59 94.00 285.09
22.58 88.32 47.86 65.00 223.77
22.58 53.57 4.87 81.03
273.80 108.24 165.56 0.84 521.88 552.75 401.16 151.59 839.86 521.88 79.41 3081.90
266.54 96.75 169.79 2.50 97.89 607.24 277.61 329.64 599.81 97.89 45.42 2569.54
265.56 110.98 154.58 71.58 77.61 263.74 285.28 -21.54 2.87 285.09 77.61 48.93 2258.44
243.65 95.52 148.13 39.81 71.79 195.68 231.64 -35.96 223.77 71.79 67.99 2258.44
159.21 86.39 72.82 7.06 50.01 122.32 171.19 -48.87 81.03 50.01 55.64 564.61
P a g e | 28
Marico Ltd.
Yearly Results of Marico Mar '06 Sales Turnover Other Income Total Income Total Expenses Operating Profit Extraordinary Income/Expenses Tax On Extraordinary Items Net Extra Ordinary Income/Expenses Gross Profit Interest PBDT Depreciation Depreciation On Revaluation Of Assets PBT Tax Net Profit Prior Years Income/Expenses Depreciation for Previous Years Written Back/ Provided Equity Dividend Rate Earnings Per Share Book Value Equity Reserves Face Value 1,044.91 3.71 1,048.62 905.81 139.10 ---142.81 0.61 142.20 33.23 -108.97 7.83 101.14 -2.28 -1 62 -58.00 219.36 10.00 ------------------- in Rs. Cr. ------------------Mar '07 1,371.66 4.23 1,375.89 1,178.31 193.35 ---197.58 11.60 185.98 35.19 -150.79 28.43 122.36 -6.19 -1 64.13 -60.90 122.60 1.00 Mar '08 1,568.78 10.07 1,578.85 1,372.60 196.18 1.24 --206.25 15.29 192.20 18.93 -173.27 29.85 143.42 --1 65.50 -60.90 219.34 1.00 Mar '09 1,921.85 10.14 1,931.99 1,667.15 254.70 -47.87 --264.84 28.92 188.06 17.03 -171.03 28.91 142.12 --1 65.50 -60.90 306.82 1.00 Mar '10 2,030.85 15.50 2,046.35 1,710.27 320.58 ---336.08 18.30 317.78 25.21 -292.57 57.55 235.02 --1 65.99 -60.93 510.75 1.00
P a g e | 28
Profit and loss account (Marico Ltd.)

Mar ' 10 Income Operating income Expenses Material consumed Manufacturing expenses Personnel expenses Selling expenses Adminstrative expenses Expenses capitalised Cost of sales Operating profit Other recurring income Adjusted PBDIT Financial expenses Depreciation Other write offs Adjusted PBT Tax charges Adjusted PAT Non recurring items Other non cash adjustments Reported net profit Earnigs before appropriation Equity dividend Preference dividend Dividend tax Retained earnings 2,001.50 1,085.10 81.52 103.11 324.00 74.75 1,668.48 333.02 15.39 348.41 18.30 25.21 304.90 57.55 247.35 -4.79 -7.54 235.02 468.12 40.21 6.83 421.08 Mar ' 09 1,921.85 1,157.03 78.80 84.18 268.07 64.37 1,652.45 269.40 10.06 279.46 28.92 17.03 233.51 52.37 181.14 -57.36 18.32 142.10 293.98 39.89 6.78 247.31 Mar ' 08 1,575.99 892.89 68.74 77.18 266.01 62.11 1,366.93 209.06 6.73 215.79 19.75 18.93 177.11 29.86 147.25 -3.84 143.41 212.89 39.89 6.78 166.22 Mar ' 07 1,373.27 749.58 61.08 66.83 251.59 55.03 1,184.11 189.16 9.93 199.09 20.01 35.19 143.89 28.43 115.46 -7.14 7.84 116.16 307.52 39.06 1.65 5.71 261.10 Mar ' 06 1,045.16 574.06 45.84 62.16 180.23 48.02 910.31 134.85 5.94 140.79 5.02 33.23 102.54 7.83 94.71 1.93 2.22 98.86 242.25 35.96 5.04 201.25
P a g e | 28
Balance sheet (Marico Ltd.)

60.93 510.73 99.61 277.31 948.58
60.90 306.78 107.51 201.02 676.21
60.90 219.33 121.23 184.36 585.82
60.90 122.59 50.48 116.77 350.74
58.00 219.36 203.25 20.26 500.87
294.45 164.48 129.97 109.96 209.11 792.53 292.99 499.54 948.58 198.04 812.01 167.90 6093.26
262.16 146.25 115.91 45.61 112.58 635.50 233.39 402.11 676.21 112.58 26.32 6090.00
228.89 131.90 96.99 49.10 106.52 582.24 249.03 333.21 585.82 106.52 21.04 6090.00
213.87 118.81 95.06 8.97 80.91 494.18 328.38 165.80 350.74 80.91 16.18 6090.00
402.11 112.56 289.55 18.97 36.39 329.35 173.39 155.96 500.87 36.39 16.78 580.00
P a g e | 28
Nestle India Ltd.

Yearly Results of Nestle India Dec '06 Sales Turnover Other Income Total Income Total Expenses Operating Profit Extraordinary Income/Expenses Tax On Extraordinary Items Net Extra Ordinary Income/Expenses Gross Profit Interest PBDT Depreciation Depreciation On Revaluation Of Assets PBT Tax Net Profit Prior Years Income/Expenses Depreciation for Previous Years Written Back/ Provided Equity Dividend Rate Earnings Per Share Book Value Equity Reserves Face Value 2,816.06 20.61 2,836.67 2,289.03 527.03 -0.39 --547.64 0.44 546.81 66.28 -480.53 165.43 315.10 --255 32.68 -96.42 292.47 10.00 ------------------- in Rs. Cr. ------------------Dec '07 3,504.35 25.44 3,529.79 2,808.08 696.27 -17.51 --721.71 0.85 703.35 74.74 -628.61 214.80 413.81 --330 42.92 -96.42 322.01 10.00 Dec '08 4,335.11 23.02 4,358.13 3,480.29 854.82 ---877.84 12.66 865.18 92.36 -772.82 238.74 534.08 --425 55.39 -96.42 376.94 10.00 Dec '09 5,149.99 17.18 5,167.17 4,137.53 1,012.46 ---1,029.64 1.40 1,028.24 111.27 -916.97 261.97 655.00 --485 67.93 -96.42 484.85 10.00 Dec '10 6,273.64 23.76 6,297.40 5,007.18 1,266.46 -16.29 --1,290.22 1.07 1,272.86 127.75 -1,145.11 326.45 818.66 --485 84.91 -96.42 759.00 10.00
P a g e | 28
Profit and loss account (Nestle India Ltd.)

Dec ' 10 Income Operating income Expenses Material consumed Manufacturing expenses Personnel expenses Selling expenses Adminstrative expenses Expenses capitalised Cost of sales Operating profit Other recurring income Adjusted PBDIT Financial expenses Depreciation Other write offs Adjusted PBT Tax charges Adjusted PAT Non recurring items Other non cash adjustments Reported net profit Earnigs before appropriation Equity dividend Preference dividend Dividend tax Retained earnings 6,260.21 3,084.51 330.11 433.44 623.14 543.60 5,014.80 1,245.42 36.46 1,281.87 1.07 127.75 1,153.04 326.45 826.60 -7.93 818.66 961.19 467.62 77.20 416.37 Dec ' 09 5,141.90 2,472.64 252.92 432.38 516.55 452.03 4,126.52 1,015.39 27.63 1,043.02 1.40 111.27 930.35 261.97 668.37 -13.37 655.00 755.11 467.62 79.47 208.02 Dec ' 08 4,328.65 2,122.74 233.21 314.58 449.40 371.77 3,491.70 836.95 32.91 869.86 1.64 92.36 775.86 238.74 537.12 -3.03 534.08 546.60 409.77 69.64 67.19 Dec ' 07 3,500.96 1,692.53 186.09 269.44 340.20 329.73 2,817.99 682.97 25.13 708.10 0.85 74.74 632.50 214.80 417.70 -3.89 413.81 424.28 318.17 52.21 53.90 Dec ' 06 2,819.16 1,334.79 168.21 216.16 278.33 289.75 2,287.24 531.92 20.61 552.53 0.44 66.28 485.80 165.43 320.37 -5.28 315.10 322.32 245.86 34.48 41.98
P a g e | 28
Balance sheet (Nestle India Ltd.)

Dec ' 10 Sources of funds Owner's fund Equity share capital Share application money Preference share capital Reserves & surplus Loan funds Secured loans Unsecured loans Total Uses of funds Fixed assets Gross block Less : revaluation reserve Less : accumulated depreciation Net block Capital work-in-progress Investments Net current assets Current assets, loans & advances Less : current liabilities & provisions Total net current assets Miscellaneous expenses not written Total Notes: Book value of unquoted investments Market value of quoted investments Contingent liabilities Number of equity sharesoutstanding (Lacs) Dec ' 09 Dec ' 08 Dec ' 07 Dec ' 06
96.42 759.00 855.41
96.42 484.85 581.27
96.42 376.93 0.82 474.17
96.42 322.01 2.87 421.30
96.42 292.47 16.27 405.16
1,854.70 841.96 1,012.74 348.91 150.68 1,094.70 1,751.61 -656.91 855.41 150.68 964.16
1,640.79 744.59 896.20 79.63 203.26 903.36 1,501.18 -597.82 581.27 203.26 63.07 964.16
1,404.85 1,179.77 651.85 577.96 752.99 601.81 109.17 73.70 34.90 94.40 836.86 678.69 1,259.75 1,027.31 -422.89 -348.61 474.17 421.30 34.90 84.90 964.16 94.40 63.27 964.16
1,058.27 516.48 541.80 38.24 77.77 583.45 836.10 -252.65 405.16 77.77 35.93 964.16
P a g e | 28
DABUR INDIA LTD. FY MAR 06
Net Working Capital = Current Assets Current Liabilities Current assets = 285.68 Current liabilities = 324.12 Net Working Capital = 285.68 324.44 = -38.44 cr
FY MAR 07
Net Working Capital = Current Assets Current Liabilities Current assets = 397.78 Current liabilities = 379.27 Net Working Capital = 397.78 379.27 = 18.52 cr
FY MAR 08
P a g e | 28
FY MAR 09
FY MAR 10
P a g e | 28
ITC INDIA LTD. FY MAR 06
Net Working Capital = Current Assets Current Liabilities Current assets = 5,228.49 Current liabilities = 4,125.99 Net Working Capital = 5,228.49 4,125.99 = 1,102.50cr
FY MAR 07
Net Working Capital = Current Assets Current Liabilities Current assets = 6,281.07 Current liabilities = 4,585.85 Net Working Capital = 6,281.07 4,585.85 = 1,695.22 cr
FY MAR 08
P a g e | 28
FY MAR 09
FY MAR 10
Net Working Capital = Current Assets Current Liabilities Current assets = 8,463.31 Current liabilities = 9,169.48 Net Working Capital = 8,463.31 9,9169.48 = -706.17 cr
P a g e | 28
GODREJ CONSUMER PRODUCTS LTD. FY MAR 06
FY MAR 07
FY MAR 08
P a g e | 28
FY MAR 09
FY MAR 10
P a g e | 28
MARICO LTD. FY MAR 06
FY MAR 07
FY MAR 08
P a g e | 28
FY MAR 09
FY MAR 10
P a g e | 28
NESTLE INDIA LTD. FY MAR 06
FY MAR 07
Net Working Capital = Current Assets Current Liabilities Current assets = 678.69 Current liabilities = 1,027.31 Net Working Capital = 678.69 1,027.31 = -348.61 cr
FY MAR 08
P a g e | 28
FY MAR 09
FY MAR 10
Net Working Capital = Current Assets Current Liabilities Current assets = 1,094.70 Current liabilities = 1,751.61 Net Working Capital = 1,094.70 1,751.61 = -656.91 cr
P a g e | 28
CONCLUSION
Dabur India Ltd.
Positive working capital is required to ensure that a firm is able to continue its operations and that it has sufficient funds to satisfy both maturing short term debt and upcoming operational expenses. An increase in working capital indicates that the business has either increased current assets or has decreased current liabilities.
It is clear from the above chart that Working Capital(%) of Dabur has increased in 2007 then there is a certain fall in 2008 and then an increase in 2009 and again a fall in 2010. The Working Capital is maximum in 2009.
P a g e | 28
ITC Ltd.
It is clear from the above chart that Working Capital is constantly increasing from 2006 to 2009 and a sudden fall in 2010
P a g e | 28
Godrej Consumer Products Ltd.
In the above chart, it is clear that in 2006 to 2008, the working capital is in negative and it has increased in 2009 and then decreased in 2010.
P a g e | 28
Marico Ltd.
It is clear from the above chart that the working capital is constantly showing increase from 2006 to 2010.
P a g e | 28
Nestle India Ltd.
It is clear from the above chart that the working capital is constantly showing decrease from 2006 to 2010.
P a g e | 28
TABLE OF NET WORKING CAPITAL (Rs in crores) Years 2006 2007 2008 2009 2010 TOTAL DABUR -38.44 18.52 -33.75 276.45 29.94 252.72 ITC 1102.50 1695.22 2041.90 2588.91 -706.17 6722.36 GODREJ -48.87 -35.96 -21.54 329.64 151.59 374.86 MARICO 155.96 165.80 333.21 402.11 499.54 1556.62 NESTLE -252.65 -348.61 -422.89 -597.82 -656.91 -2278.88
Hence, By the help of data analysis conducted on the results of major FMCG giants, it has been found that companies like ITC and Marico have higher net working capital as compared to other FMCG giants during 2006-2010 followed by Godrej, Dabur and Nestle. So, on the basis of above Table , a ranking scale is developed by which the ranks are assigned to the companies on the basis of their net working capital as:-
RANK
RANK 1 RANK 2 RANK 3 RANK 4 RANK 5
COMPANIES
ITC LTD. MARICO LTD. GODREJ CONSUMER PRODUCTS LTD. DABUR INDIA LTD. NESTLE INDIA LTD.
P a g e | 28
BIBLIOGRAPHY
WWW.DABUR.COM WWW.ITC.COM WWW.MARICO.COM WWW.NESTLE.COM

WWW.GODREJCP.COM WWW.MONEYCONTROL.COM WWW.GOOGLE.COM WWW.MONEY.REDIFF.COM

Summer Training Reporton Dabur India Ltd. (Working Capital Analysis of Major FMCG Companies) For Bba and Mba Students

Загружено:

Сведения о документе

Оригинальное название

Авторское право

Доступные форматы

Поделиться этим документом

Поделиться или встроить документ

Параметры публикации

Этот документ был вам полезен?

Это неприемлемый материал?

Авторское право:

Доступные форматы

Summer Training Reporton Dabur India Ltd. (Working Capital Analysis of Major FMCG Companies) For Bba and Mba Students

Загружено:

Авторское право:

Доступные форматы

P a g e | 28

JAGANNATH INSTITUTE OF MANAGEMENT SCIENCES (34,RING ROAD,LAJPAT NAGAR IV,NEW DELHI-24)

I wish him all success in life.

SANDEEP SHEORAN REGN. NO. : PLACE: DATE: ROLL NO. :

I am very confident that this project will help me in my future.

Sandeep Sheoran BBA- B JIMS, Lajpat nagar

"What is that life worth which cannot bring comfort to others"

Chairman Dr Anand Burman

Vice Chairman Mr Amit Burman

Whole Time Directors

Mr. P.D. Narang

Mr. Sunil Duggal

Mr. Pradip Burman

Non Whole Time Promoters, Directors

Mr. Mohit Burman

Mr. Bert Paterson

Mr. Analjit Singh

Dr. Ajay Dua

accounts receivable (current asset) inventory (current assets), and

accounts payable (current liability)

Working capital management

Management of working capital

Profit and loss account (Dabur India Ltd.)

Balance sheet (Dabur India Ltd.)

86.76 0.14 662.48 24.27 81.80 855.45

86.51 651.69 8.26 130.72 877.17

86.40 441.92 16.45 0.24 545.01

86.29 316.90 19.28 0.26 422.73

57.33 390.54 19.23 1.25 468.35

Profit and loss account (ITC Ltd.)

Balance sheet (ITC Ltd.)

375.52 8,626.79 25.91 93.82 9,122.04

8,959.70 56.12 2,790.87 6,112.71 1,126.82 2,934.55

7,134.31 57.08 2,389.54 4,687.69 1,130.20 3,067.77

3,091.90 3,541.14 13.30 13.46 129.56 98.72 37622.23 37551.79

Godrej Consumer Products Ltd.

Profit and loss account (Godrej Consumer Products Ltd.)

Balance sheet (Godrej Consumer Products Ltd.)

30.82 796.65 12.40 839.86

25.70 511.22 14.89 48.00 599.81

22.58 127.91 40.59 94.00 285.09

22.58 88.32 47.86 65.00 223.77

22.58 53.57 4.87 81.03

Profit and loss account (Marico Ltd.)

Balance sheet (Marico Ltd.)

60.93 510.73 99.61 277.31 948.58

60.90 306.78 107.51 201.02 676.21

60.90 219.33 121.23 184.36 585.82

60.90 122.59 50.48 116.77 350.74

58.00 219.36 203.25 20.26 500.87

Nestle India Ltd.

Profit and loss account (Nestle India Ltd.)

Balance sheet (Nestle India Ltd.)

96.42 759.00 855.41

96.42 484.85 581.27

96.42 376.93 0.82 474.17

96.42 322.01 2.87 421.30

96.42 292.47 16.27 405.16

DABUR INDIA LTD. FY MAR 06

ITC INDIA LTD. FY MAR 06

GODREJ CONSUMER PRODUCTS LTD. FY MAR 06

MARICO LTD. FY MAR 06

NESTLE INDIA LTD. FY MAR 06