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editorial Vol. 09 | Issue 07 | february 28, 2010

Managing Director: Dr Pramath raj sinha Printer & Publisher: Kanak Ghosh

Putting

Editorial Group Editor: r Giridhar Assistant Editor: P K Chatterjee Sub-Editor: reshmi Menon dEsign Sr. Creative Director: Jayan K Narayanan Art Director: binesh sreedharan Associate Art Director: anil VK Manager Design: Chander shekhar Sr. Visualisers: PC anoop, santosh Kushwaha Sr. Designers: Tr Prasanth & anil T Chief Designer: N V baiju Photographer: Jiten Gandhi brand managEmEnt General Manager: Nabjeet Ganguli salEs & markEting VP Sales & Marketing: Naveen Chand singh (09971794688) National Manager-Events & Special Projects: Mahantesh Godi (09880436623) National Manager Online: Nitin Walia (09811772466) Assistant Brand Manager: arpita Ganguli GM South: Vinodh Kaliappan(09740714817) GM North: Pranav saran(09312685289) GM West: sachin N Mhashilkar(09920348755) Coimbatore: D K Karthikeyan (09843024566) Kolkata: Jayanta bhattacharya (09331829284) Production & logistics Sr. GM Operations: shivshankar M Hiremath Production Executive: Vilas Mhatre Logistics: MP singh, Mohamed ansari, shashi shekhar singh officE addrEss Nine Dot Nine Interactive Pvt ltd C/o KPT House, Plot 41/13, sector 30 Vashi (Near sanpada railway station), Navi Mumbai 400703 for any information, write to info@industry20.com for subscription details, write to subscribe@industry20.com for sales and advertising enquiries, write to advertise@industry20.com Printed and published by Kanak Ghosh for Nine Dot Nine Interactive Pvt ltd C/o KPT House, Plot 41/13, sector 30 Vashi (Near sanpada railway station) Navi Mumbai 400703 Editor: anuradha Das Mathur C/o KPT House, Plot 41/13, sector 30 Vashi (Near sanpada railway station) Navi Mumbai 400703 Printed at silverpoint Press Pvt. ltd, D 107, TTC Industrial area, Nerul, Navi Mumbai 400706.

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business on Hold

R Giridhar editor@industry20.com

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he union budget 2010-11 is around the corner, and the manufacturing community is holding its collective breath. Though the most recent fICCI survey indicates that the double-digit growth registered by the manufacturing sector (since august 2009) will continue for the fourth quarter, there is little visible cheer. The government, concerned by the high rate inflation, its enormous spending commitments, and the paucity of avenues to raise money has been hinting at the withdrawal of the fiscal stimulus package announced last year. With exports still weak, the Indian industry has overwhelmingly opposed any measures that could dampen domestic demand, and lead to a dip in consumption and investment levels. Meanwhile, rising inflation and the incipient recovery of the global economy is pushing up the cost of input materials, labour and transportation. Manufacturers, on their part, are reluctant to increase prices— and continue to look for creative ways to manage the situation. The employment picture has also not changed substantially, and organizations are still cautious about hiring. on positive side, the government is making active efforts to secure greater involvement of the private sector in large government-led programmes focused on defence manufacturing, energy, aerospace and railways. since, these areas

industry 2.0

were previously limited to the public sector, this move is welcome. That’s because it will enable the domestic manufacturing industry and its legion of suppliers acquire new technologies, skills and manufacturing abilities—and achieve world-class levels, much like the auto industry and the space sector. However, progress on this front hinges on how quickly the government can move and facilitate a productive publicprivate partnership. Despite robust domestic demand, the industry has placed its capex plans on hold—while the near-term uncertainty over the direction of the economic policy is resolved. so, it is important that the government move quickly to restore flagging confidence, and take steps to strengthen the growth momentum and continue the stimulus measures. The industry is also looking for a slew of practical measures from the government—more investment in infrastructure (roads, power, ports, etc.); rapid implementation of the GsT regime to ease administrative problems; a benign interest regime and better availability of loans; maintenance of a competitive exchange rate to spur exports; simplification of the convoluted income tax and corporate tax rules; a revised Companies act that is in tune with the times; and the continuation of the disinvestment programme. a big wish list, for sure. Will the finance Minister deliver? We’ll know soon. n

- technology management for decision-makers | february 28, 2010

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contents Cover Design: Rohit A Chandwaskar Picture courtesy: www.photos.com

facilities & operations 148 Enabling Innovation for Product Development Product lifecycle management facilitates faster development of ready-to-market products.

152 Choosing the Right Software If product lifecycle management software benefits large companies, then the medium businesses can avail benefits of product data management to ease manufacturing challenges.

22 cover story

38 Building & Leveraging a Metrics Framework

22 Steering the Growth Wheel

An integrated metrics framework helps business intelligence systems in providing effective supply chain decision making.

The Indian logistics industry is at the threshold of scaling newer challenges and growth opportunities.

42 Designing an Optimal Supply Chain Network

32 Moving Towards Bright Days

A look at how Facilities Installation Planner (FIP) helps evaluate and redesign the supply chain.

Changing social and economic factors will give a fillip to the growth of the Indian logistics industry.

in conversation

156 Perfecting the Art of Design Engineering Design validation tools enable economic testing of new product designs sans physical prototypes.

management & strategy 159 Mitigating Climate Change Considerable efforts are being made to reduce carbon emissions.

departments 01 Editorial 06 Industry Update 14 Survey Report

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30

Maha MuzuMdar Vice President Supply Chain Marketing, Oracle

S Sridharan Managing Director TAKE Solutions

15 Advertiser Index 16 Status Quo 161 Product Update

Inside Cover Design: Baiju N. V. Picture courtesy: www.photos.com

INSIDE 46

Measuring the Effectiveness of Manufacturing Supply Chains Indian manufacturing has come a long way since the liberalization of the economy. Companies have relentlessly focused on adopting and assimilating new technologies, using modern manufacturing practices, and focusing on quality to achieve operational excellence. However, the economic downturn during the past months has dramatically shifted the focus to issues like productivity, efficiency and cost reduction. But, is India Inc. taking a hard look at its supply chain?

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48

Supply Chain Metrics—Large Manufacturing Companies

78

Supply Chain Metrics—Small & Medium Manufacturing Companies

- technology management for decision-makers

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industry update Repower, eOLe-ReS Sign agreement

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Epower Systems, in which Suzlon Energy holds 90.71 per cent shareholding, and French wind and solar power developer EOLE-RES, have signed

The agreement includes supply of 26 wind turbines for Langres Sud wind farm. an agreement for the supply of 26 wind turbines. The agreement includes supply of REpower MM92 turbines—with a hub height of 88.5 meters and two

megawatts (MW) of rated power for Langres Sud wind farm in the department of Haute-Marne in the Champagne-Ardennes region. At full power the wind farm achieves a total generating capacity of 52 MW. The 26 wind turbines are expected to be delivered and commissioned by October 2010. EOLE-RES is the French subsidiary of RES Méditerranée SAS, which specialises in wind farm and solar power projects. Tulsi Tanti, chairman and managing director, Suzlon Energy, said, “France is among the world’s leaders in wind energy installations, and an important market for REpower. We are pleased to welcome this order, which underlines REpower’s strong presence in the European wind market.” n

event update Renewtech India 2010

The event will showcase products, technology solutions and emerging technologies in the world of renewable energy. Venue: Auto Cluster Exhibition Centre Chinchwad, Pune Tel: +91-22-2660 5550 E-mail: info@renewtechindia.com Date: 9 March to Website: www.renewtechindia.com

11 March 2010

Bangalore International automotive expo 2010

The trade show will showcase over 500 world class automotive brands, designs and technology. Venue: Palace Grounds, Bangalore Tel: +91-80-2234 2611 Date: E-mail: info@biae.in 11 March to Website: www.wmcpl.com/auto 15 March 2010

Diemould India 2010

Areva T&D Bags Two New Projects

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reva’s Transmission and Distribution (T&D) division has bagged two contracts from Power Grid Corporation of India (PGCIL) for extra high voltage turnkey projects at Moga (Punjab) and Bhiwani (Haryana) plants. The two orders, with a combined value of 2800 MINR, are for the supply and installation of 765/400 kV air-insulated substations (AIS) for northern grid-II and northern grid-III. Areva T&D will also provide 765 kV circuit breakers and substation automation systems as part of the project. Both plants are scheduled for commissioning by the end of the first quarter of 2012. n

Renault Plans Independent Network

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enault India is planning to independently strengthen its base in India. The company has announced that it would set up an independent distribution network to support the new products. The company is planning to introduce several new cars from its international portfolio here in India. “We will create an extensive nationwide distribution network in the next 30 months to ensure

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our customers are assured of seamless service,” said Marc Nassif, country general manager and MD, Renault India. Fluence and Koleos would be the first cars to roll out of the company’s greenfield manufacturing plant in Chennai in 2011, followed by other models from the global Renault portfolio. Plans are also underway to introduce a small entry level car. n

- technology management for decision-makers

The event will display new innovative products and manufacturing process, covering the entire gamut of the tooling industry. Venue: NSE Complex, Goregaon, Mumbai Tel: +91-22–28526876 E-mail: mumbai@tagmaindia.org Date: Website: www.tagmaindia.org 18 March to

21 March 2010

Chemspec India 2010

The exhibition will showcase a wide range of new products, technologies and services from the agrochemical, dyestuffs, biotechnology, water treatment, contract and toll manufacture, cosmetics and healthcare sectors. Venue: NSE Complex, Goregaon, Mumbai Tel: +91-22-24044477 E-mail: vijay@chemicalweekly.com Date: Website: www.chemspecindia.com 15 april to 16 april 2010

automotive engineering Show 2010

The event will display a wide range of manufacturing technologies, equipment, tools and methods of assembly for the automotive industry. Venue: Chennai Trade Centre, Chennai Tel: +91-22-4020 1000 E-mail: info@focussedevents.com Date: 14 May to Website: www.focussedevents.com

17 May 2010

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industry update Business Confidence Levels Rise in India

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usiness confidence levels in India have exceeded the October 2009 levels by 7.03 per cent, according to the latest National Council of Applied Economic Research (NCAER)—MasterCard Worldwide Index of Business Confidence. The study states that the current Business Confidence Index (BCI) rating of 153.8 points, compared to the October 2009 rating of 143.7 points and July 2009 rating of 118.6 points, is the highest rating recorded since January 2008 (154 points). The index is based on a survey, which measures business confidence on four indicators relating to ‘Overall economic conditions six months

from now’, ‘Financial position of the firm six months from now’, ‘Investment climate’ and ‘Level of capacity utilisation’. All four indicators carry equal weight. The survey also looks at trends within firmspecific business outlook indicators, includes a Political Confidence Index (PCI) and studies the global economic crisis and its impact on various industries. T V Seshadri, vice president and country general manager, South Asia, MasterCard Worldwide, said, “The study has captured the upbeat economic climate in India, which is now almost close to the positive ratings during early 2008.” n

asia’s SMes to Focus on Costs, Quality Control Post-recession

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merging from the recent recession, Asia’s small and medium sized enterprises (SMEs) are today focusing on costs and quality control, says a new report from the Economist Intelligence Unit, titled, ‘Towards the recovery: Challenges and opportunities facing Asia’s SMEs’. Export-oriented SMEs are altering their strategies to focus on markets closer to home, as they expect demand from Western economies to stay weak. Based on interviews with corporate officers at SMEs and regional experts, and a review of recent studies published by authorities such as the IMF, the Asian Development Bank (ADB) and national governments, the report assesses the challenges and opportunities facing SMEs in Asia, and China in particular. SMEs form a crucial market segment as they are the

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biggest employers in many of the region’s economies. They were hit hard by the global recession, particularly those companies reliant on exports. The report, however, adds that though Asia’s SMEs faced a tough period, they are in the right region to take advantage of the upturn. A new intra-regional trade dynamic is also expected to help SMEs. If Asia’s larger economies do become sources of final demand, this will help drive intra-regional trade. The proliferation of freetrade agreements (FTAs) in Asia is testament to policymakers’ commitment to this goal. “SMEs are the entrepreneurial lifeblood of the Asian economies, and those that have shown the toughness and flexibility to survive the financial crisis may well be tomorrow’s corporate stars,” says David Line, Editor of the report. n

- technology management for decision-makers

Biofuel Project Gathers Momentum

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he new project, titled, ‘Applications of Biofuels for Aviation’, under the Indo-Canada Science & Technology Cooperation Programme, has brought together several partners under one roof. Recently, an agreement was signed with regard to the project, between Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL), Indian Institute of Petroleum (IIP), Indian Institute of Science (IISc), Indian Institute of Technology Kanpur (IITK), Infotech Enterprises (IEL) and the Department of Science and Technology (DST). The project will be coordinated by Hyderabad-based IEL. It will focus on two streams - developing aviation specific biofuels and blends and development of propulsion and specific combustion technology applicable to blended biofuels. The fuel development will be carried out jointly by IIP, IOC and HPCL, and analysis and testing will be done at research and development institutes. Meanwhile, evaluation tests will be carried out in Canada. The project is being sponsored by DST, Global Innovation and Technology Alliance (GITA) in India, which is an initiative of CII and the Government of India, DST and the International Science and Technology Partnership (ISTP) in Canada. The project partners include Pratt & Whitney Canada (P&WC) and several Canadian research institutes. The biofuels will be developed from feedstocks specific to India and Canada and will be selected based on sustainability of supply and potential for Green House Gas (GHG) emissions reduction. Efforts will be made to focus on developing and validating technologies to convert bio-feedstocks to commercial aviation fuels, with specific focus on second or third-generation feedstocks, which do not compete with food or water resources. Infotech will coordinate the work planned in India, modelling and design support, combustor analysis, redesign and validate the engine components. n

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VERTICAL MACHINING CENTERS

THE 2010

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industry update Indsil, Muscat Overseas Plan JV

The joint venture will develop a ferro chrome smelter in the Sultanate of Oman.

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ndsil Hydro Power and Manganese along with its group sister company, Indsil Energy & Electrochemicals have collaborated with the Muscat Overseas Group (represented by Al-Tamman Trading

Establishment) to set up a new joint venture, to establish a 75,000 tpy ferro chrome smelter in the Sultanate of Oman. The project would have access to 100 per cent captive chrome ore, which would be made available from the existing mining operations of the Muscat Overseas Group. Indsil will provide the technology, operating and marketing expertise for the project. The share capital would be held equally by both parties to the joint venture. The project is expected to cost about Rs 140 crores and is expected to be operational by end of 2011. n

Stone India, Sumitomo Join Hands

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tone India and Japan-based Sumitomo Electric Industries have signed an understanding effective from February 15, 2010, to enter into a joint venture (JV) in a phase wise manner—to locally manufacture air springs in India. The two companies had entered into a technical collaboration agreement in November 2007 for selective manufacturing and assembly of air spring systems for Railways in India. Following this collaboration

agreement, Stone India had commenced bulk supply of air springs to Indian Railways. The company had also entered into a separate agreement with Japan-based Tokai Rubber Industries, a subsidiary of Sumitomo Electric Industries for supply of conical springs for primary suspension system of Railways. Stone India is planning to export metal parts of air springs to Sumitomo Electric Industries. n

Tata Power, East West Power Sign MoU

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ata Power Company and Korea East West Power Company (EWP) have signed a Memorandum of Understanding (MoU) to identify and execute operation and maintenance (O&M) opportunities relating to third party generation assets in Asia, Middle East and Africa. Under this MoU, Tata Power and EWP have initiated a technical cooperation in the field of O&M of the generation assets. The technical co-operation will cover exchange of information, best practices and exchange of personnel relating to the O&M of generation assets. Prasad Menon, managing director, Tata Power, said, “The MoU will enable exchange of technical cooperation with Korea East West Power Company. Apart from the domestic market, we aim to explore and extend our partnership in widening our O&M portfolio in the Asian market and look forward to the association.” n

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- technology management for decision-makers

alps Partners with Huntsman textile effects

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lps Industries has entered into a strategic partnership with Huntsman Textile Effects for exclusive supply of materials for their eight production facilities in India. As per the agreement, Huntsman TE, besides materials, will also provide technical service support to Alps Industries to ensure compliance with stringent global customer requirements. Paul Hulme, president, Huntsman Textile Effects, says, “India is an important market for us as we continue to expand in Asia Pacific, and we recognise the importance of our key partners in India.” Huntsman Textile Effects is a global provider of dyes and chemicals to the textile and related industries. n

tII acquires Stake in France Co Sedis

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ube Investments of India (TII) has acquired a controlling stake in Sedis Group, France, through acquisition of 77 per cent of equity of its holding company, Financiere C10. TII acquired the shareholding directly from the financial investors in FC 10 (75 per cent) and a few other shareholders. The management shareholders will continue to hold the remaining shares in FC10 and be associated with Sedis for a period of three years. Sedis is a manuTII plans to offer a complete range of facturer of industrial products to its Indian and engineering class and global customers. chains in France. It has two plants in France and a marketing company in the United Kingdom. L Ramkumar, MD, TII, said, “With this acquisition, we will be able to offer the requisite technical skills and a complete range of products to meet the requirements of our customers both in the Indian and global markets.” n

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industry update Spicer Plans Hypoid Gear Plant in Pune

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designed and manufactured hypoid picer India, a joint venture gears with high power density. company of USA-based Dana “Indian-based OEMs are demandHolding and Anand Automoing improved efficiency, power dentive Systems, recently announced sity, fuel economy, the groundbreaking torque-carrying cafor a new hypoid pacity and weight gear manufacturing reduction,” says facility and testing James E Sweetcentre in Chakan at nam, president and Pune. The new plant CEO, Dana Holding will manufacture Corporation. Dana’s AdvanTEK Spicer India, esseries of axles. Dana Holding’s AdvanTEK series. tablished in 1993, The greenfield is a supplier of axles, driveshafts manufacturing plant, spread over (also known as propeller shafts), 50,000 sq ft in Chakan, will prodrivetrain products and genuine duce 2,40,000 gear sets annually. service parts. n AdvanTEK axles comprise specially

Oracle Introduces New Solution

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racle in collaboration with HP has launched an accelerate solution to help midsize industrial manufacturing companies streamline their IT implementations. The new solution offers hardware, software and services to help midsize industrial manufacturers effectively manage and grow their businesses.

The solution is built on HP’s BladeSystem infrastructure and StorageWorks Modular Smart Arrays. A range of hardware configurations are available based on the number of Oracle e-business suite users. The product helps reduce the length of the implementation cycle and accelerate time to value and return on investment. n

Geometric Launches v2.1 of DFMPro

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eometric has launched version 2.1 of DFMPro for Pro/ ENGINEER and SolidWorks with new advancements and a new injection moulding module. The new advancements are expected to help designers check manufacturability of plastic designs within the CAD environment. DFMPro is an automated Design for Manufacturability (DFM) review tool facilitating upstream manufacturability validation and identification of areas in design that are

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difficult, expensive or impossible to manufacture. The product allows quick and in-depth examination of product manufacturability through advanced design rules for manufacturing processes like milling, drilling, turning, sheet metal fabrication and injection moulding. The injection moulding module helps users validate the designs to check for uniform wall thickness, recommended rib parameters, appropriate draft angles on core and cavity surfaces. n

- technology management for decision-makers

Waaree Energies to Set up Solar PV Power Plant

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olar photo voltaic (PV) module manufacturing company, Waaree Energies, is planning to set up a 20 MW solar PV power plant in Gujarat. The company has received approval from the Government of Gujarat, to set up the plant, under the Solar Power Policy 2009. The proposed power plant will be installed and commissioned by end 2011. The plant will be built at an estimated cost of Rs 300 crores. “We have received the first Letter of Intent (LoI) from the Gujarat government for 20 MW and are expectHitesh Doshi, Chairman, Waaree Energies. ing LoIs from other governments for 80 MW in the near future,” said Hitesh Doshi, Chairman, Waaree Energies. The energy produced from the plant will be fed to the grid of the state power utilities, for which a Power Purchase Agreement (PPA) will be signed. The company is also planning to undertake similar projects in other states in India and abroad. Waaree Energies, which was established in 2007, with an aim to providing alternative energy sources, is planning to increase its solar modules’ strength from 30 MW to 100 MW. Plans are also underway to make a foray into the mainstream power generation sector. “The total installation of solar energy in India is less than 5 Megawatt today and we need more than five Gigawatt in the next 2 to 3 years,” says Doshi. The Prime Minister of India, Dr Manmohan Singh has set a target of achieving 20 Gigawatt by 2020. “The goal is set. We have to pursue the same,” he adds. n

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survey report

Inclining Towards the Use of

Risk Mitigation Instruments Nearly 40 per cent of respondents of an Atradius survey expect economic crisis to end in H1 2010.

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hirty-eight per cent of respondents, of an Atradius survey looking at the impact of the recession on business in 20 countries, expect the economic crisis to end in H1 2010 with 45 per cent anticipating a rebound in business within the same time frame. In both cases, more than 60 per cent of respondents expect the crisis to end by year end 2010. Accordingly, the responses are fairly consistent with, if not slightly more cautious than, IMF estimates—which signal an end of the recession occurring early in 2010. Despite this, there remain significant concerns about business failures, particularly in distressed industries and the financial services sector. The survey, assessed the opinions of 3500 executives and senior managers from companies in Europe, North America,

Asia and Australia about their views on various economic indicators, expectations of business failures, the value of government actions to stimulate the economy, changes in their use of various risk mitigation instruments and the impact of various factors on cash flow during the economic crisis. Overall, government attempts to stimulate the economy are considered to have had a limited impact in most countries. In 17 of the 20 countries surveyed, more than 40 per cent of respondents have experienced no impact from government initiatives to stimulate the economy. More than 10 per cent of respondents in half of the countries have not even noticed that the government has made any initiatives. What respondents are most interested in seeing from the government are the introduction of more tax cuts or

The recession has had a big impact on the way many companies are doing business. Although some of the results of the survey suggest the opposite result than might be expected, they do show that businesses are paying more attention to managing their business risks and as a result, in many cases, they have been able to improve the performance of their business. Despite this, the short term sentiment of respondents remains cautious and generally pessimistic, particularly when it comes to business failures. As a leading credit insurer operating in more than 40 countries worldwide, these observations are fairly consistent with what we are encountering on a daily business.� Isidoro Unda CEO, Atradius N.V. 14

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- technology management for decision-makers

tax incentives and a reduction in interest rates. In general, it is expected that cash flow would suffer during the recession, however when looking at it in relationship to specific factors, there are just as many factors that have produced an increase in cash flow as have produced a decrease. The accessibility of financing, availability of credit from suppliers and the number of customers are more likely to have resulted in a decrease in cash flow suggesting declines in these factors. Changes in cash sales, the length of time within which customers pay and the availability of credit insurance have resulted in an increase in cash flow, suggesting an increase in cash sales and advance payments and an increase in the focus on receivables management. On an average, there is a greater tendency across most countries surveyed to increase the use of risk mitigation instruments than to decrease use. This holds true for the use of credit insurance, and not credit forms of risk limitation. Most notably, respondents have stepped up the frequency with which they check the creditworthiness of their buyers. In addition, businesses are paying greater attention to sales and cost issues. Finding new markets or sales channels for products, and a heightened focus on customer service have been essential elements of business continuity—as have gaining access to financing and reviews of staffing levels. n Source: Atradius Credit Insurance. www.industry20.com


survey report

Accelerating Growth

In Connected Factory Markets

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ow channel partners are working with connected factory technologies indicates that only a select few are offering the kind of higher–value software and services, which are key to making faster return on investment (ROI) and higher performing connected factory implementations—a reality. Demand for cost-management and productivity enhancement tools in factory floor environments will continue to drive revenue growth opportunities, in a number of industrial automation and control market segments. Perhaps nowhere will these opportunities be stronger than in the collection of hardware and software that enables a factory to become more connected, reports a recent study published by VDC Research. According to research group, strong connections to customers, suppliers, channel partners and

internal engineering, marketing and sales resources will be critical to access the smaller number of harder fought deals available in the current recession. But those connections are only the beginning for suppliers of solutions enabling ‘The Connected Factory.’ Those companies supplying industrial networking, supervisory monitoring and control enhancement technologies will need to do more, including: l Have real-time tracking of rapidly changing customer requirements, preferences and priorities—technical, commercial and financial will be equally acute. l Know specifically what their peers are offering and how competitors are closing deals. With growth slowing in many markets—and going away in some— more peers will be chasing fewer dollars with lower prices and . . . what else?

l Control costs—and understand the impacts on your product or market and channel development strategies—and in turn how that impacts your precious resource allocation, your customer pipeline and your partners’ contribution requirements. VDC observes that most channel partners are only offering basic hardware solutions; such as PCs, routers/switches, servers and sensors. In the words of Christopher Rezendes, Executive Vice President at VDC, “The big misalignment here is that when you look at user/ deployer requirements, it is all about software and integration, and many categories within software and integration services. Hardware is recognized by users as critical, but, the differentiation and margin opportunities are concentrated elsewhere.” n

Most channel organizations targeting Connected Factory opportunities are not offering the software products or integration services cited as most critical by factory and plant managers. Thus, a better channel alignment will unfold wider opportunities.

Courtesy: VDC Research Group

Advertiser index Deccan Cargo ......................................................................BC

Premium Transmission ....................................................... 17

Elecon .................................................................................... 3

Rockwell ............................................................................. IFC

HAAS Automation .................................................................. 9

Siemens ................................................................................. 7

Havells .................................................................................13

Tageutec .............................................................................IBC

Mitsubishi .............................................................................. 5

Zab machine ........................................................................11

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industry 2.0

- technology management for decision-makers | february 28, 2010

15


status quo

Adopting Sustainable Practices To Reduce GHG Emissions As far as the environment-friendly operation standard is concerned, the Indian cement industry runs abreast with the global benchmarks.

The industry has achieved an installed capacity of 242 million tonnes, and is targetted to reach 300 million tonnes by 2011-12 and 600 million by 2020. India has 97 per cent of the installed by sameer pushp capacity through dry process. The industry has been adopting latest technologies for energy conserhe glue that holds the vation and pollution control, as infrastructure sector is well as on-line process of quality cement, and the growth control—based on expert systems of cement industry is and laboratory automation. Dedirectly linked to the growth of inspite having high demand in India, frastructure sector. India today is our per capita cement consumpthe second fastest growing econtion is very low, where the world omy in the world with the cement average is 396 kg, in India the and construction sector being the per capita consumption is only prime movers. The industry with 156 kg. a total installed capacity of 219 Our cement industry is efficient million tonnes is the second largand eco-friendly, when it comes est cement producer in the world. to energy conservation, the best The construction activity is exlevel is achieved by the induspected to make a significant contry—as far as the data goes 687 tribution in the context of growing kilo calories per kg of clinker and housing needs, development of 66 kWh per tonne cement are at roads and other infrastructure, par with the best achieved levels urbanization etc. in the world. The industry’s effort It is the construction sector, towards control of emissions, which shares the blame of global preservations of ecology and its economic slowdown leading to slackening of demand for housing; Corporate Social Responsibility (CSR) for environment protection but withstanding that hard time, are laudable. The sustainable our cement sector is still growing and long-standing efforts towards at ten per cent when compared to the global average of five per cent. reduction of carbon footprint in the industry is commendable. CO2 In spite of global slowdown emission of and reduction in demand, the 0.82 tonnes Cement Industry needs to be per tonne of complimented for weathering the downturn cement proand recording a commendable growth of duced in 2006 around eight per cent in 2007-08, as well as shows a good in 2008-09. In the current year 2009-10 so far, the pace of growth of cement industry has drop from the level of 1.12 in accelerated significantly above double digit.” 1996 and 0.94 in 2000. Jyotiraditya M. Scindia

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On the technology front, the industry has largely adopted state-of-the-art manufacturing technologies. However, the system for cogeneration of power and technologies for low NOx and SO2 emission are yet to achieve many targets. The initiatives taken by the cement industry for waste utilization are evident from the fact—that production of blended cement in the country in the year 2008-09 was as high as 74 per cent as against only 36 per cent in 2000-01. The industry annually recycles more that 30 million tonnes of fly ash, apart from consuming the entire quantity of granulated blast furnace slag. The rising cost of energy, transportation and persistent raw material pressures have been playing a heavy strain on the cement and construction industry. As a result, the Indian companies have to not only explore alternative sources of energy and materials, but also strive to enhance efficiency. The industry is in search of competitive advantage. It is continuously improving on the innovation and optimization front. While embracing its commitment to grow and compete globally, it is however not neglecting the ecological and environmental needs. The sector is adopting sustainable development practices and conservation measures, while harnessing energy for its use. The industry is fully committed and partner global efforts to reduce Green House Gases’ (GHGs’) impact, and it is mitigating the evil of climate change. n Courtesy: Press Information Bureau, Government of India.

Minister of State for Commerce & Industry

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status quo

Speeding up the Progress with

Research Outcomes

In this age of deteriorating environment, one of the primitive industries of India is showing light to the path of environmentfriendliness. Indian coir industry is getting modernised, new inventions from the Central Coir Research Institute (CCRI) are accelerating the growth process of the foreign exchange fetching industry.

Mobile Fibre Extraction Machine (MFEM) developed by Central Coir Research Institute, Coir Board, Kalavoor.

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C

dr us sarma

oir has been playing an important role in the economy of Kerala, especially the coastal districts of the state. The social life of people across these districts is closely knit with the warp and weft of the products manufactured in the coir units. Of late, the industry has begun to make its presence felt in other coconut producing states of the country as well. The state of Tamil Nadu has gone much ahead in this respect, and in fact large quantities of coir fibre required by the export oriented production units located in Alleppey source their raw material from the state. In the case

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of mechanization also, the state of Tamil Nadu has been making rapid strides, and a large number of entrepreneurs are currently entering into the industry. Similarly, the proliferation of this industry in the states of Andhra Pradesh, Karnataka, Orissa and in some non-traditional states like Gujarat has been quite encouraging. As we all know, the world economy has been reeling under an economic recession, and it is emerging out of its clutches slowly. In the aftermath of the onslaught of the recession, one item which stood conspicuous by its steady performance was coir. The depression in the economic world

- technology management for decision-makers

did not affect the exports of coir, and it proved its stencil strength against the rapids and currents in the world economy. During the year, 2009-10, the export of coir and coir products is all set to surpass the target of Rs.700 crores, an all time high export performance from the country. During the previous year (up to December 2009), the export of coir and coir products from the country was 1,79,667 MTs valued at Rs.555.03 crores. When compared to the same period of the previous year, there has been an increase to the tune of 30.38 per cent in quantity and 19.44 per cent in terms of value.

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Modern technology

The intervention of Central Coir Research Institute (CCRI) in the coir industry has been instrumental in making the coir industry in the country a modern sunshine industry. There were times when mechanization and modernization were not acceptable terms for the industry, since they were supposed to cause reduction in employment opportunities. Now, it has been proved beyond doubt that modern technology is a boon to the industry, thanks to the efforts of Coir Board and its Research and Development wing. With the eradication of crude production and processing methods and introduction of modern equipment, now more and more units are being established in factory set up with higher degree of mechanization. This has resulted in increased productivity, better quality of products and better income both to the entrepreneur and the labourer.

Employment opportunities

The younger generation which was once averse to take up jobs in the coir industry due to low wages, crude production and processing methods are now coming forward to take up employment opportunities generated in the sector. Earlier, the industry used to offer only seasonal employment opportunities to the workers due to monsoon and demands of the trade. Now, the factory set up provides regular employment to the workers, consequently the standard of living of workers has been rising steadily.

Major contributions

Some of the contributions of the Central Coir Research Institute have been major milestones in the history of coir industry. The development of ‘COIRRET’ by the Institute has revolutionized the production process of ‘white fibre’

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by reducing the processing period considerably. This process has also made the job of the workers in the industry easier and hygienic. It is an eco-friendly zero effluent process. Another contribution of the CCRI has been ‘pithplus,’ which elevated the status of coir pith from a menacing substance to a ‘money spinner’, as it found application as a hundred per cent natural manure suitable for a host of crops and horticulture applications. The recent invention of the CCRI, the Mobile Fibre Extraction Machine is going to be an epoch making incident in the history of coir industry by eradicating the perennial problem of shortage of coir fibre in the state of Kerala. In addition to the coir industry, the machine will also help the coconut cultivators by providing additional income to the farmers in the form of income from selling coconut husk, which was thrown away as a waste material. The fibre extracted through this machine can be further treated by the eco-friendly process of ‘COIRRET’ or a ‘conditioner’ treatment developed by CCRI recently, to prepare the best quality of coir fibres for spinning. The day is not far when the coir fibres blended with other natural fibres will provide new opportunities for development of various value added products like soft luggage, conference bags, shopping bags, curtains and Venetian blinds etc. CCRI has already made a breakthrough in this area of research. The dyeing of such products with natural dyes will add further value to these products in terms of eco-friendliness. It seems that two factors, which are going to be of immense help to the industry are globalization and the growing concern over the degradation of environment. Along with the growing

Dew Retting Process Green Husk Fibres: The coir fibres that are obtained from green husks by mechanical means are subjected to soaking in backwaters to remove the colour from the surface. The Central Coir Research Institute (CCRI) of Coir Board developed a process to carry out faster retting of green husk fibres by dipping these fibre bales in RCC tanks on which a bacterial cocktail namely, COIRRET is applied. The effluent arising from the fast retting can also be treated to recycle the water. Recently, CCRI has also developed a new process for treatment carried out on the fibres by Dew retting method. The COIRRET is sprayed on the fibres and the treated fibres are kept in a wrapped condition for a period of 12 hours. This is a zero effluent process and good retted quality coir fibres are available within a period of 12 hours. Dry Husk Fibres: The dry husk fibres mostly produced in Tamil Nadu have been found to be difficult for spinning good soft yarn that is required for the mats and matting industry. In order to convert these fibres into soft fibres for getting good quality yarn, the process involves spraying a combination of a conditioner and EDTA and wrapping the fibres for a period of one to four hours to get the softening /brightening effect. This is a zero effluent process.

consciousness of people on the need of turning to environment friendly products for their needs, the exposure of such products to the customer is also becoming instant, due to the ubiquitous internet access and online facilities. The coir industry is yet to fully utilize these opportunities. Owing to the environment-friendly nature of the products of this industry, the industry can play a major role in the new vista of Carbon Trading. n Dr US Sarma is the Director, Central Coir Research Institute, Coir Board, Kerala.

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cover story

Picture Courtesy: www.photos.com

Indian Logistics and Supply Chain industry is on the verge of a new era. Growing demands triggered by the upswing of manufacturing, retail, food chain and textile sectors will usher a complete facelift of this industry. Changed paradigm, new strategy and technology-aided management will be the key determinants of this transformation process. by p. k. chatterjee

I

n a recent gathering of Logistics professionals, Vineet Kanaujia, General Manager (Marketing), Safexpress said, “Our strategy for growth revolves around adding maximum value to the customers at every level, right from providing world-class warehousing support to managing time-definite express deliveries. Over the years, Safexpress has been relentlessly working towards carving its own niche in the Supply Chain and Logistics space, which

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has made the company stand out in a league of its own.” Thus, adding value at all levels and carving its own niche form the company’s success mantra. On another such occasion, Anil Khanna, Managing Director, Blue Dart Express, said, “We stand committed to support our customer needs and deliver value as we face the new opportunities in 2010.” Obviously, the hint is towards commitment to service and value added packaging as the tool behind Blue Dart’s growth.

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What does the customer want?

A fail-safe delivery in time without damaging goods at a competitive cost—is always demanded by all customers. Obviously, all service providers attempt to address those. Is that all? Then, what is that factor creating difference between the service providers? Customers are no longer happy with the average kind of services and facilities. In fact, almost literally, each customer has a unique requirement, which may depend on the real requirement or just be a mindset. Thus, meeting a single standard no longer works, the need of the hour is customization. But to what extent? Till the time, it does not affect the service provider’s optimised asset utilization. There comes up the thought to be segment-specific.

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Emerging Trends and Need for Innovation Atul Kulkarni CEO, Chowgule Ports & Infrastructure

Q&A

It is quite visible that although the future potential is too bright, the present walkway in front of the Indian Logistics Service Providers (LSPs) is not so even, as there are plenty of problems, such as—inadequate infrastructure, lack of skilled manpower, b reaucratic hindrances and so on. Still, some LSPs have achieved great success here, even during the gloomy days of global economic recession. What is common among these successful players? It goes without saying—their zeal to win, and that leads to innovation. Once again, the word ‘innovation’ is highly confusing. Where to innovate, and how to innovate are the immediate pertinent questions. The answers are quite simple, although often not properly focused on. When a Logistics operator thinks—for whom am I providing the service? Invariably, the answer is the customer. So, looking at the service from the customer’s eye is the first and foremost requirement, and that pinpoints the areas where to innovate. Also, a thought on—what are we really doing?—points towards finding out how more products can be picked, packed and shipped perfectly without loss or damage within the least time. What are the advantages of these? Customer satisfaction, brand loyalty, repeated contracts etc., along with lower labour costs and improved bottom lines for distribution operations and so on—all ultimately leading to enhanced profitability. Additionally, lower fuel, power and water consumption, reduced haphazard movement of goods, people and carriers, less traffic on the course et al—finally summed up to reduced damage to the environment.

Q: What are the emerging trends in the Indian Logistics sector? A: The emerging trend in India is outsourcing of Logistics function to Third Party Logistics Service Providers (3PLs), with whom there is a strategic partnership. The focus is shifting towards concentration on core business activity. More service providers with no asset base but ability to organize resources, and provide innovative solutions will be dominating the market. The warehousing sector will undergo a sea change. Many new concepts and services, which are not falling under traditional warehousing functions, will be offered as value added services. The retail sector will demand high efficiencies and look for zero inventory. Q: How should the Indian Logistics companies innovate to sustain in the coming days? A: The way forward for Indian Logistics companies is to understand the solutions offered by multinationals and overseas entities in order to sustain competition. The thriving large domestic market and already existing network should be used as strength. Training of manpower to deliver desired service levels, and understanding of novinces of operating in diverse cultural background will work to their advantage. It is therefore essential for Indian Logistics companies not to loose focus from the domestic market. The hub and spoke model and cluster approach will further enhance the viability.

However, this also in one way calls for multi modal transport capability, and of course an expanded portfolio, which again invite investment. The fund raising venture through Initial Public Offering (IPO) by supply-chain firm Aqua Logistics fits in here as one of the most recent examples. When F&S felicitated VRL Logistics with the 2009 Voice of the Customer Award for Best Logistics Provider in the Indian Fast Moving Consumer Goods (FMCG) Sector, Nandan Borgalkar, Chief Marketing Officer, VRL Logistics, said, “The award is in recognition of our efficient and prompt service to our customers. VRL has built a strong infrastructure to meet the increasing demands of the customers,

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cover story Major Trends and Ways to Innovate Q: Which direction is the Indian Logistics sector moving towards? A: Well, I see three major trends are emerging. First of all, Supply Chains will no longer compete based on regulatory or tax arbitrage. The ability of LSPs to orchestrate various links of the entire chain, therefore, will become more important. Secondly, the industry (customers of LSPs) is realizing that the asset owner is not necessarily the best service provider. Domain knowledge with execution capability is becoming more important to win contracts. Thirdly—adopt technology or perish. In the past, customers had been forcing LSPs to use technology. This will no longer be the case in future. LSPs will have to take initiatives to assess the technology needs of their customers and provide them with domain specific solutions.

Q&A

Mangesh Pathak Principal, Ambit Pragma Ventures

Q: How should the companies in this sector innovate? A: Saving costs for their customers has been a major selling proposition for LSPs. They will need to shift their focus from saving costs to creating value for the customer. This is possible only if LSPs develop a very sharp domain expertise in select industry verticals. One of the imperatives for the Logistics industry is to find ways to attract and retain talent in the industry. Q: What is your advice to small LSPs? A: For small LSPs to be sustainable, they must develop their niches and grow within them initially.

especially in FMCG sector. Corporates expect fast, reliable and on-time deliveries to reach the ultimate destination; VRL has understood the importance of being able to deliver on time and achieve this within a short span of time.” Focusing more light on Nandan’s statement, GS Ayyer, Vice President (Finance) of the company informed, “A customer always desires committed service from the appointed LSP. Here, service covers activities, namely—timely pick-up, assured last mile delivery and pro-active information flow of this activity to customer.” When explaining why LSPs need to be segment-specific, Ayyer said, “Need of a segmentspecific service provider is felt by a customer for

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getting confidence of handling and delivering shipments as per commitment to the customer’s customers. Segmentation depends on various factors like—product segment, geographical segment etc.” He continued, “In Indian scenario, geographical spread is very wide, and at the same time service providers are high in number. Very few of them are organised, and they do work on strength of their geographical and infrastructural network. Own vehicle strength of the service providers is very meagre in India. Single and up to five vehicles strength players in market operate on route-specific or region-specific strength.” According to Ayyer, multi modal capability of service providers is very important these days. Since in the entire Supply Chain movement of shipments to the end user with different volumes and time sensitivity, engaging different service providers at different legs till last mile delivery is an uphill task to the customer. Hence, it is becoming call of the hour to engage single service provider—who can deliver to the end more economically and time sensitively. With multi-modal capabilities service providers can give one-stop Logistics solution to customers. Fair enough! An interesting fact found through a recent research by Frost & Sullivan (F&S) is the lower preference of end users for long-term contracts with LSPs. Their observations reveal—long-term contracts between LSPs and end user companies were low across all industries in the country. A majority of the companies either had no contracts with LSPs, or had just one year contracts, indicating a tendency toward frequent change of LSPs. F&S Industry Analyst Srinath Manda said, “About 90 per cent of users across industries mentioned cost saving followed by preference to focus on core competency as the primary reasons for engagement of Logistics service providers.” Commenting on Srinath’s statement, U K Kaushal, Head—Pune Plant, Apollo Tyres, opined, “It is a fact that most industries go for short-term contract with the LSPs.” However, the complexity and the volume of the services required play an important role in deciding the term of the contract. In case the logistics requirements are highly specialized, the long term contract may be the preferred choice. Where the volume and the complexity are low, the short term contract fits in quite well with annual plan— especially, in a market where there is competition and inflation.”

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What is the present scenario?

Picture Courtesy: www.photos.com

According to The Associated Chambers of Commerce and Industry of India (ASSOCHAM), “Exorbitant Logistic cost (14 per cent of the total value of goods) in India is primarily responsible for making goods uncompetitive, and may further erode the competitiveness in the international market unless corrective measures are taken.” The chamber feels providing ‘industry-status’ alone would facilitate development of the sector, and bring down the current Logistic cost of 14 per cent to the level of China, where it is 10 per cent. As per ASSOCHAM’s observation, in the developed countries these costs are between six to eight per cent of the total value of goods. A recent CRISIL Research study of the Logistics expenditure in India reveals that the efficiency of Logistics network in the country lags behind that of many developed nations. The research also highlights, the total Logistics spend covering both primary and secondary movement was around 10.7 per cent of the GDP in 2008-09, which is significantly higher than the 5 to 7 per cent across developed nations. The higher spend is largely due to inefficient

Goods are kept in a modern warehouse.

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Customer’s Demand and Evaluation Technique Debojyoti Ray Chaudhuri Assistant Manager – Supply Chain, Kansai Nerolac Paints Q: What is your first question to any LSP approaching you for a contract? A: I will enquire about their fleet size, routes on which they are strong and type of cargo carried.

Q&A

“LSPs must focus on the value added services for long term mutual advantages in terms of Communication system, Vehicle tracking, Loadability, Packaging, Optimal vehicle size and shape, and Cost competitiveness. Every industry has potential to reduce long term cost. However, the initiative by LSPs to understand the complexities of requirements of the end users, and working out integrated solutions—would make long term contracts lucrative. Now, LSPs are growing in size and competency, the long term contracts may be better choice in near future,” explained Kaushal.

Q: How do you assess an LSP’s capability before allotting contract? A: We first check their profile, and it is reviewed by a reference check. We confirm if they can indeed provide a strong service in a particular route. We also check the financial soundness of the company. Q: What kind of value do you look for in an LSP? A: Efficient and responsible transportation of goods... Responsive support staff... Responsibility of entire documetation, which includes filling up road permits in certain states, collection of modvat papers etc... Q: Where do the Indian 3PL service providers need to improve? A: Tracking of consignments, quality of fleet, billing procedures and adequate literacy of support staff of the organization are some of the areas, where they need to improve.

Logistics operations, multiple tax structures, inadequate Logistics infrastructure and unorganised nature of the industry. The fifth annual ‘Voice of the Customer’ study from F&S (just released) finds – LSPs in India performed well above end-user expectations in some key performance criteria, such as—fleet size, vehicle quality, number of warehouses and warehouse size. In parameters, such as—value addition, consignment tracking facility and cost saving initiatives, LSP performance came close to end-user expectations. But the LSPs lagged significantly behind end-user expectations on key performance criteria, such as—process improvement capabilities, material safety and attitude of staff. According to Analyst Srinath of F&S, “Foremost among the challenges in Logistics for a majority of companies across industry verticals are safety of

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cover story Need for Multi Modal Transport Capability

of modern technology or inefficient use of the installed technology. Of course, there are many other problems, such as shortage of adequately trained manpower, bureaucratic interference etc. So, the industry needs to overcome all these stumbling blocks to emerge as the best-in-class worldwide.

Anshuman Neil Basu President, CSCMP, Roundtable Mumbai, India

Q: Where is the need to be a segment-specific service provider? A: Overall, I feel a service provider should not be only segment-specific. As SCM encompasses all the areas of goods movement—from the raw materials till the end user, a service provider should be an expert in all segments or commodities. This gives the service provider an expertise, which everyone is looking at desperately in the growing Indian market.

How is the scenario changing?

Q&A

Q: What does a customer want from an LSP ? A: Complete accountability and ownership. Currently in India, many service providers including multinational corporations (MNCs)—are engaged in providing 3PL services, but most fail to be complete professionals in their services. They rely heavily for a constant support and involvement of their clients, and mostly this becomes a practice over the period. Hence, a sense of ownership is lacking in most cases.

Q: Why multi modal transport capability is important these days? A: Multi modal transport is the future. India cannot afford to lag behind in network and quality of its capability. Private sectors should take the lead and make this world-class. This is India’s decade. Multi modal transport will turn out to be much more cheaper, and will ensure it reaches many places in considerably less time, and thus being more competitive.

goods during transit and warehousing, inefficiency of LSPs in adhering to timelines and the low skill levels of Logistics personnel. Inability of LSPs to keep pace with evolving volumes of end users, and the lack of multimodal transportation capabilities are other impediments. Further, the risk of information leak is a cause for angst among end-users.” Thus, one of the major drawbacks in India is poor Logistics infrastructure that has been raising Logistics costs compared to other countries, and making our products uncompetitive. Another key feature offering a major obstacle to smooth Logistics is the fragmented nature of the industry. Except for only a few very big operators, others do not provide a complete solution. Then there is lack of visibility of Supply Chain because of either lack of deployment

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With rapid growth in Indian manufacturing sector (along with growing textile and organized retail sector) in this globalized era, companies are now looking at concentrating more on their core activities, thus the trend of outsourcing Logistics operation is ever increasing. Third Party Logistics service providers (3PLs) are supposed to possess better skill and knowledge in handling cargo—naturally expectation for better goods handling and market penetration capability from them is very high. A recent Datamonitor survey communicates, “In India, 3PL operators have a 15 per cent share of the Automotive Logistics industry. The 3PL industry receives almost half of its revenues from the automotive sector, and its share of this market is expected to grow around 24 per cent annually to reach 60 per cent by 2012. With the Indian automotive industry set to grow at a robust annual average of 13 per cent over the next five years, and global companies increasingly sourcing components from India, the opportunities for 3PL players are very promising. According to a recent report on 3PL market in India from RNCOS, they expect—improving infrastructure and focus on core business operations will lead the future growth of the Indian 3PL market. The market is projected to witness a CAGR of around 30 per cent during the period 2010-12, harvesting total revenue of nearly US$ 4 billion. ASSOCHAM predicts, outsourcing of 3PL business in India is all set to acquire a size of US$ 90 million by 2012—as the concept introduced in US and Europe is fast catching up the pace to increase the efficiency of domestic corporates through efficient Logistic functions. As far as government’s initiative is concerned, the plans focusing the manufacturing industry will indirectly benefit the Logistics and Supply Chain industry, as so far there is no separate recognition of this industry as an individual industry. The government has taken up major plans to build industrial corridors, inland water way facilities, better connectivity

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What are the emerging trends?

Picture Courtesy: www.photos.com

In the service front, Indian LSPs are gearing up to present a wide spectrum of Logistics services portfolio in all air, water and land segments. Utmost attempts for creating visibility of Supply Chain, and assuring unhindered services with absorption of information and communication technology (ICT) are quite prominent. Enormous efforts are being put to reduce transportation costs, to remain competitive. Also, attention is being paid on improving Reverse Logistics operations. In the policy level, formulation of new strategies, although at its nascent stage, incorporating relief from non-beneficial race of competition is also on cards. Perhaps the statement of Bharat Joshi, Director, Associated Container Terminals best explains that. He feels, “Collaborative supply chains hold tremendous promise for those who can engage in co-opetition.” So, the message is very positive— a paradigm shift from competition to co-opetition is one of the remarkable recent trends.

A loaded truck is coming out of a warehouse.

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Emerging Issues and Remedies Rolf Habben-Jansen CEO, Damco

Q&A

for ports, airport upgradation etc. However, most of the projects are being taken up through public-private participation. A few (not all) major plans include: Delhi-Mumbai Industrial Corridor (DMIC) project worth Rs. 3,60,000 crore to build a Global Manufacturing and Trading Hub with emphasis on expanding manufacturing and service hub, this will boost the Logistics sector too, notably, it will include three sea ports and six air ports. Projects are being formulated for major ports to have minimum four-lane road and double line rail connectivity. Inland water way development projects are also on anvil in the stretch of River Godavari, Kakinada-Puducherry stretch of canals and stretch of Matai river.

Q: India faces the hurdle of lack of good infrastructure for the growth of its logistics industry. What do you feel about this? A: Good infrastructure will definitely promote the Logistics industry in India. Lack of infrastructure adds risks, affects reliability and in general – increases the overall Logistics costs affecting the overall competitiveness of the economy. India is a very vast country where the manufacturing centres and consumption centres are spread across a wide geography, thus state-of-the-art design of Supply Chains will ensure economic and efficient distribution. The country’s trade is dominated by a few gateway ports and the road or rail connectivity to these gateway ports has limited capacity. These need to be addressed urgently.

Gearing up for reaping benefits from the post Goods & Services Tax (GST) implementation era is going on in full swing. Whereby setting up of state-of-the-art warehouses at strategic locations and reformulation of distribution strategies are gaining importance. In the quarter of technology absorption, where recently, Kale Consultants, in their study titled “Technology Adoption in the Indian Logistics Industry” revealed that 76 per cent of Indian Logistics companies need to significantly improve their technology adoption levels, the scenario is changing now. According to NOVONOUS, India spends 15 to 20 per cent of its GDP on Transport and Logistics compared to an average 8 to 10 per cent in other developing countries. The freight transportation industry trends indicate that freight operations that are port based, are to grow at 20 to 25 per cent, with the proposed capacity additions at major and minor ports. Although, thoughts on Green Logistics have been hovering over the entire Indian Logistics industry, translation into practices in a mass scale is yet to start. As on date, to a great extent it is because of administrative pressure. In its true sense, we are just at the doorway of practising Green Logistics. However, with more acceptance of the concept of co-opetition (if taken up seriously by the LSPs), the real era of Green Logistics will commence.

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cover story Need for Contemporary Knowledge Sanjay Goel Chairman, GTC Group

Q: What are the areas where Indian LSPs need to innovate? A: Education is one area where service providers have to innovate a lot. Most of the institutes are providing knowledge, which is not contemporary or relevant to the ever changing Supply Chain scenario. They have to look beyond the universities or colleges – which are giving just degrees.

Q&A

Q: What are the emerging trends in our Logistics and Supply Chain sector? A: The sector is in continuous evolving mode. The future will bring mergers and acquisitions amongst service providers, so that economies of scale can be availed.

Q: How should they do that? A: They may ask industry experts to conduct workshops and devise programmes, which are concurrent with the industry.

Conclusion

3PL industry will continue to gain more and more importance. However, competition will be manifold, because of the entry of the expert and financially sound foreign players, as well as big Indian players from other fields, e.g., Gammon India. Some segment-specific expertise will gain much more importance. For example, because of the fast growth of the food product industry, opening of the food chain outlets and shifting food culture in different parts of the country, 3PL in food Supply Chain (Cold chain) will carve a successful niche segment. However, LSPs with versatile capabilities will find more opportunities. Customers’ need for complete solution will be acute. Getting contracts for only a section of Logistics and Supply Chain functions (of a company) will be more difficult gradually, except for a few areas like landfill, slag removal contracts, generally where there will be no requirement for storage. Ultramodern warehouses with huge capacity and versatile capabilities are to come up at many strategic locations. Their list of functions too will start including many innovative services, which may include jobs like repair and maintenance, spot testing of damaged products.

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- technology management for decision-makers

For every Indian LSP, to win in the market battle of cut-throat competition, deployment of advanced technologies will be most essential, as it will bring in real time visibility of operations leading to making prompt decisions in every aspect. Moreover, to a great extent ICT can nullify the potential losses due to lack of the country’s infrastructure. For example, route diversion in time because of advanced information of traffic congestion, saving perishable goods from natural or unforeseen adverse situations etc. Multi modal transport capability will find huge demand, as it will lead to offering economic packages for goods shipping. Also, from manufacturers’ end there will be tremendous effort to improve Reverse Logistics, which is a weak area of our Supply Chain today. Focus on safety and security of goods in transit will receive more attention. Right tracking technology will ease the job for LSPs. In order to taste the pie, the small and medium operators will look for strategic alliance and growth partnership to be capable from all angles. There is no alternative, as money market will not go easy for them till the Logistics and Supply Chain industry is given official recognition or status of a full fledged industry sector; once again the recent launch of Rs 150-crore IPO of Aqua Logistics bears its witness. The company had to extend the closing date as the issue was not fully subscribed, also it had to reduce the price band to Rs 200-225 per share from proposed Rs 220-230. However, experienced 3PL service providers of Indian origin seem to overcome all the blows, if they can smartly throw their dice to join hands and form ties to share experience and efficiency of one another. Thus, it is time to rethink, reengineer and rebuild through M&A and co-opetitive approach. The ever growing need for people with field-specific knowledge will force the operating companies— to either create their own training institutes or join hands more firmly with the existing academia to influence practice-oriented redesign of their syllabi. At the outset I drew your attention towards value addition, I am not lost in the bush of words, at the end I say, to be in the market tomorrow the process of value addition has to be endless. Because, what you do today, will be imitated immediately, thus, the unceasing flow of adding values to value added products will continue to retain unique identity in the market. n

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cover story

“LSPs Will Have Access to

Software Solutions That Offer Instant ROI” Information technology (IT) helps Logistics Service Providers (LSPs) in enhancing quality of customer service, reducing revenue leakage and containing costs. SaaS platforms delivering webbased software on a pay-for-use model do not call for huge initial investment to reap benefits of IT. S Sridharan, Managing Director, TAKE Solutions, unfolds some of the potential areas to P K Chatterjee, where Indian LSPs can take IT advantage through pay-for-use pricing model.

S Sridharan, Managing Director, TAKE Solutions What type of area-specific solutions are being sought by the Indian Logistics Companies? Unlike procurement of materials, use of software solutions by customers for managing procure-to-pay processes for services, especially Logistics services, has always been very limited in India. The process of requisitioning and procuring Logistics services is usually administered manually, leaving little scope for logistics providers for improvement in quality of customer service. Also, Logistics Service Providers (LSPs) in India are spending significant energies towards expediting payments, as this process typically involves multiple entities within and outside the customer organization. Their inability to submit electronic invoices, which enable instant verification and processing, puts added pressure on the already difficult working capital management scenario. Until now addressing these challenges required investments in software solutions and IT from both

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- technology management for decision-makers

service seeking and service providing companies. With web-based technologies and pay-for-use software-as-a-service (SaaS) solutions, Logistics companies in the organized and unorganized sectors now have access to instant Return On Investment (ROI) solutions that address these challenges. These solutions not only automate the order-tocash and accounts receivable processes for LSPs, but also the procure-to-pay and accounts payable processes for their customers. They also bring the capabilities to track transactions, shipments and packages, as well as providing automated alerts to customers. Do you find any notable paradigm shift among the small fleet operators—as far as adopting software solutions is concerned? The problems that small fleet operators face are no different from that of the large ones—except that their working capital pressures are far stronger. As a result, their propensity to invest in software solutions, and to adopt new technologies, is low. The onus is on the software solution providers to make such solutions accessible to them at affordable cost—once again this highlights the need for zeroinvestment, pay-as-you go software solutions for all members in the business ecosystem.

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For very small LSPs, which are not computer literate, the challenge is to deliver these solutions through familiar technology options like cell phones. What sort of difference do you find in use and demand of software solutions among Indian Logistics operators compared to their peers in the developed countries? Fundamentally, the logistics industry in India is fragmented. There are a large number of small and medium businesses, which rely heavily on few essential assets supported by manual labour. Given the fragmentation, most customers in India are forced to have multiple LSPs and allocate their requirements across them based on SLAs commensurate with the general industry automation levels. Take warehousing for example, the level of automation here—even for a large LSP is very small compared to those in the developed countries. With increased consolidation in the industry, the ability to invest and benefit from automating operations, and processes across organizational boundaries, would increase. This would drive the software solutions focus from effective operations and visibility—to capability building and efficiency generation. For example, in warehousing, this will result in increased demand for software solutions that support compliance labeling, use of hand-held devices, cross-docking capabilities, system assisted operations etc. What is the most recent technology in this field according to your assessment? Adoption of web-based software for business ecosystems through SaaS model will see a lot of demand. These solutions offer the twin advantages of addressing the needs of the small and mid-sized LSPs in terms of lesser cost and fewer resources, as well as being easy to adopt and use. Mobility, combined with business applications delivered on SaaS model, is expected to see increased LSP adoption—this will not only improve visibility of their operations internally, but can also help in offering value added services to their customers. Though RFID is another talked about piece of technology, the adoption rates would depend significantly on how concerns over issues such as costs and its applicability in heavily metallic environment are addressed. Can you give an idea of the payback period after a software solution is deployed in a Logistics firm? With multi-tenant SaaS platforms delivering webbased software on a pay-for-use model, LSPs

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will have access to software solutions that offer instant ROI. For instance, LSPs could benefit from automating their order-to-cash and accounts receivables and shipment or package tracking processes, using SaaS platform for delivering high-value Supply Chain Solutions to trading partners in a multi-enterprise business ecosystem. Such solutions come with low and affordable fixed monthly subscription options. Unlike software solutions delivered on a licensed model, the LSPs would gain instant ROI as soon as they join the ecosystem, through membership attribution and readiness to do business with potentially all their customers. There is no investment and no pay-back period involved. Payback-period would be relevant only for software solutions delivered on a licensed model and technology solutions involving procurement of hardware. It is well known that India has got infrastructural problems, which is being addressed these days, apparently in a big way! However, it will take a long time to be at par with other developed countries. Under such circumstances: How can IT reduce logistics losses (say time loss, fuel loss, loss due to traffic jam etc.) in a big way? Logistics losses are as much a result of infrastructural issues as they are of the way we use the available infrastructure. For example, on one hand most companies continue to pay for warehouse storage space they have booked in private warehouses—but not used, on the other hand many LSPs are unable to pass the benefit of booked but unused space in their facilities. This is a direct result of the cost plus methods adopted in pricing facilities and services. Software solutions can help not only truly enabling and managing shared resources and facilities, but also track and bill customers accordingly. Similarly, software solutions can also help LSPs in building cross-docking, drop-ship, direct-storedelivery and mobile sales capabilities, even with existing infrastructure. What is your message to the Indian Lsps? Research has repeatedly established that Indian LSPs can benefit significantly from adopting advanced methods and technologies in Supply Chain, and using them to offer better services to end users and customers. Web-based software solutions delivered using a multi-tenant SaaS platform, are now available for LSPs on a pay-for-use pricing model. LSPs should actively consider adopting and benefiting from such solutions in their reach, as they come with near zero investments and no worries on ROI. n

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- technology management for decision-makers | february 28, 2010

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Picture Courtesy: www.photos.com

cover story

GearinG uP

To Drive Huge Wheels of Growth The future of the Indian logistics industry is very bright considering some major transforming social and economic factors, which will give fillip to its growth. Timely preparation will help the service providers in shouldering the huge upcoming load. by vineet agarwal

H

ealthy economic growth in India is increasingly being supported by the robust industrial growth. One of the significant sectors that supports almost all industrial activities is the Logistics Sector, which is also witnessing this commensurate growth. Indian logistics sector grew phenomenally at the rate of eight

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february 28, 2010 | industry 2.0

to ten per cent annually between 2002 and 2007, riding on favourable factors such as country’s changing tax regime, growth across major industry segments like automobile, pharmaceutical, FMCG and the emergence of organized retail. The future for logistics outsourcing or 3PL, multi-modal logistics services, and Offshore Development Centre (ODC) services has become very bright in the recent times. The growth in the logistics sector can be attributed to increased participation from foreign players. With globalization and entry of international players across verticals through Foreign Direct Investments (FDIs) or Foreign Institutional Investments (FII), a general shift in the business activities undertaken can be noticed, wherein the companies

- technology management for decision-makers

outsource their logistics requirements in order to reduce costs. It is one of the core factors for the growth of logistics sector in this country. India holds an important position on the global logistics map, and it offers immense opportunities for growth to the logistics service providers. Over the last two decades, economic globalization, trade liberalization and competitiveness have enhanced transportation needs to such an extent—that now competent logistics management activities relating to the procurement, transport, transshipment and storage of goods—are not only just an economic support, but also recognized as an economy driver. As per a research by Datamonitor, the Indian logistics market will reach a value of $125 billion in

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2010, increasing from approximately $100 billion in 2007.

The growth of the logistics sector is affected by various other factors like development of infrastructure. Proper emphasis on the following elements will further accelerate the growth of the sector: l Logistics hubs l Commercial warehousing l Logistics parks l Implementation of GST Logistics hubs: Currently, there are around 12 established logistics hubs in India, which are concentrated around key industries like pharmaceuticals, auto and auto-components, textiles, machinery and electronic goods. These hubs are: l North: Haryana, Himachal Pradesh, Delhi and Punjab l West: Maharashtra, Gujarat and Rajasthan l South: Andhra Pradesh, Tamil Nadu and Karnataka l East: Orissa and West Bengal Maharashtra, Gujarat and Rajasthan in Western India have huge potential for growth—as approximately 30,000 acres of land has been notified for the development of non- IT/ ITes SEZs. Going South, Andhra Pradesh, Tamil Nadu and Karnataka are flourishing due to the presence of huge automobile and auto ancillary manufacturing market. Moreover, these states have a bright future in terms of logistics business—as several multi-product, automobile and textile SEZs are expected in this region. The sector is also expected to benefit from the booming pharmaceutical, auto component and agri-input industry, and presence of seven ports facilitating international trade. The states of Haryana, Himachal Pradesh, Delhi and Punjab in Northern India are thriving on the organized retail market and food

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Picture Courtesy: www.photos.com

Need of the hour

processing industry. It is believed that maximum supply of retail malls in the country will come up in North India, and it will give a fillip to the logistics sector. Apart from the established and emerging hubs, the logistics players in India are also eyeing the ‘promising’ hubs like Jamshedpur, Alwar, Ahmedabad, Bangalore and Ambala. These cities have the potential to be developed into logistics hubs, considering the fact that manufacturing activities are increasing there.

Commercial warehousing: Another very strong potential for growth lies in commercial warehousing. With double-digit manufacturing growth and the sharp advent of modernized retailing, warehousing will play an ever important role in the supply chain industry. Commercial warehousing, particularly free trade warehousing in the special economic zones across the country, is expected to witness tremendous growth, reaching in excess of 150 million square feet by the end of 2010.

Warehouses are evolving from a

conventional storehouse

to a completely scientific inventory management set-up focusing on value

added services

Warehouses are evolving from a conventional storehouse to a completely scientific inventory management set-up focusing on value added services. As the concept of ‘third party logistics’ is fast catching up in the country, warehouses are also growing apace by providing additional services such as packaging, labeling, bar coding, consolidation and break up of cargo and reverse logistics etc. The government’s investmentlinked tax incentives for setting up cold storages and agriculture warehousing facilities too will provide an impetus to the logistics sector. With strong growth

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- technology management for decision-makers | february 28, 2010

33


Major

factors, which will shape the growth

of the logistics sector, will be publicprivate participation,

technology

deployment, investments in infrastructure and integration of logistic services in organized retailing and food processing sector, there is a dire need to upgrade infrastructure to ensure optimal distribution and storage of perishables. Logistics parks: The concept of Logistics Park is emerging, but it is at a nascent stage. Logistics parks provide the right framework to bring about economies of scale, standardization and efficiency. This takes the standard of logistics services to higher level and helps unleash the true potential of logistics. For logistics parks to gain traction, there is a need for the government to push for more freight corridors and integrated multi-modal transpor-

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february 28, 2010 | industry 2.0

Picture Courtesy: www.tcil.com

cover story

tation network. As land acquisition proves to be the biggest challenge, the government should identify the logistics points, and provide land on public-privatepartnership basis—to build logistics parks. Just as land is earmarked for industrial, commercial and residential purposes, land needs to be allocated for logistics activities too. Implementation of GST: As the country is getting ready for the proposed Goods and Services Tax (GST) to be implemented, the conventional concept of establishing warehouses near manufacturing and raw material facilities is undergoing a transformation. As GST will standardize rates across the nation, there is a lot of consolidation expected in the warehousing segment—as companies will be able to manage bigger warehouses at few strategic locations. Introduction of GST will also lead to greater adoption of a hub-andspoke model in infrastructure segments such as warehousing, cold chain, container freight stations etc. GST will also reduce logistics costs and enable industry players to reduce prices.

Safe present and promising future

India possesses substantial op-

- technology management for decision-makers

portunities for growth in the logistics industry in the coming years. All this is possible when due recognition will be given to the logistics sector by providing it ‘industry’ status, and acknowledging it as a ‘strategic enabler’. Also, to further speed up the growth of the sector, other impediments should be worked upon; like stringent documentation, checkpost delays, poor infrastructure and lack of skilled labour. Indian logistics sector attracted investments worth Rs. 23,200 crore in first half of 2008, according to a study by Assocham. That time, it outperformed major sectors such as aviation (Rs. 20, 890 cr), metals and mining (Rs. 8500 cr) and consumer durables (Rs. 6000 cr) among others. According to CRISIL, the logistics sector in the country is expected to gain Rs.5,96,114 crore in annual revenues by 2013-14. This strong growth in the sector will be backed by favourable regulatory environment and greater thrust on logistics infrastructure spending. Introduction of GST and development of logistics parks will give a boost to the sector, which is expected to post an 11 per cent compound annual growth rate (CAGR) for the next five years.

Looking at the future

Future outlook of the logistics industry is bright – as it depends on the economy which is expected to continue to grow. With increasing trend in the freight traffic in last couple of years, logistics industry will keep pace with growth of the external as well as domestic trade. Major factors, which will shape the growth of the logistics sector, will be public- private participation, technology deployment, investments in infrastructure and integration of logistic services. n Vineet Agarwal is the Executive Director of Transport Corporation of India.

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cover story Maha Muzumdar Vice President Supply Chain Marketing Oracle

Integrating the

Business Processes Is Absolutely Critical for SCM

In a scenario, when enterprises constantly need to predict, innovate and align their operations in tune with the prevailing market conditions, in an exclusive interview with Industry 2.0, Maha Muzumdar, Vice President, Supply Chain Marketing, Oracle, explains how information technology (IT) can help the Indian manufacturing and distribution industry reach the next levels of growth.

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- technology management for decision-makers | february 28, 2010

35


cover story How is IT helping supply chain managers worldwide? The biggest value proposition on a company, as a whole, is the impact it has on the profit and loss—as that has direct implications on the company’s performance. Specifically, when we talk about managers, supply chain management (SCM) technology can allow them to oversee the cycle time, making sure they have the right information at the right time to make the right decisions—because it is a very information-centric environment. When we talk of supply chain, we talk about the physical flow of goods. Secondly, there is flow of cash. So, when you move a product and a customer buys it, they pay you cash, this cash has to

Substantial

companies still operate on

systems that western

companies operated on ago

15 years

go up the supply chain. The third thing is the flow of information, which is enabled by technology. Through advanced capabilities of planning, execution and sourcing, one can automate business processes, which leads to lower cycle times and more efficiency. From the point of view of operations, decision making, accelerating cycle times and driving key performance for the company, there is no doubt that technology plays a very vital role. In fact, if you look at a supply chain, which does not have adequate technology infrastructure, you are not going to have that instantaneous sharing of informa-

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february 28, 2010 | industry 2.0

tion. All the market leaders today use technology to reach higher levels of growth. Do you feel that distributed manufacturing will be the trend in the near future in India? When we talk about distributed manufacturing, my interpretation—it is ‘virtual manufacturing’. There is not even a single company that manufactures a complete product without the help of suppliers or (other) manufacturers. When we talk about India, we have got a vast pool of highly skilled resources. People in the western countries are viewing India as a big opportunity, and they wish to set up manufacturing plants here. The challenge is the logistics infrastructure in the country, which needs to be fixed. Because when companies are considering India for outsourcing and manufacturing, they are also thinking about moving goods. But, here the infrastructure has stayed behind. China is now the manufacturing shop floor of the world—because of its brilliant infrastructure. What sort of integrated approach is being found in SCM nowadays? The whole notion of SCM is all about breaking barriers and silos. Historically, companies were organized by functions. Supply chain management is all about horizontal business functions, therefore, integrating the business processes is absolutely critical for SCM. We, at Oracle have built our solutions with a very processcentric view, around intelligence and dashboards. Firstly, we plan to combine the process-centric approach with an informationcentric one. The second aspect is about integrating solutions, such as—sales and operations planning with CFO Suite, thus making sure that the supply chain is

- technology management for decision-makers

aligned with corporate goals. Our sales and operations planning solution integrates profit and loss with supply and demand. When you link your supply chain processes and integrate that with your financial planning systems, you are actually able to link your corporate goals and strategies, your performance metrics, performance targets and budgets with your supply chain goals, as a result, when you run your supply chain, you are completely aligned with the CEO and the CFO of the company. What sort of new approach is necessary as far as Indian manufacturing organizations are concerned? When we talk about new approaches for Indian manufacturing, I feel many companies are still operating out of legacy systems, spreadsheets, fax and phones and other manual processes. Substantial companies still operate on systems that western companies operated on 15 years ago. This is the time for them to look at the latest technologies, and leverage their activities to streamline business processes and supply chains, ensure automation, have instant visibility for decision making. Thus, the most urgent thing is to enable instant sharing of information across the enterprise. These are some of the approaches that Indian companies need to look at—moving away from fragmented manual processes to the state-of-the-art —like the western world. How can application of IT in manufacturing and SCM take the Indian business runners in to the next level of excellence? When we talk about SCM excellence, there is a whole process view around, what we think our pillars of excellence, that compa-

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nies need to have in order to not only be market leaders but also to sustain their market leadership. Five key things that I would like to talk about are—the ability to predict, adapt, innovate, align and sustain. Predict means ability to sense and shape demand—(say) how can you influence a customer’s buying behaviour, so that you are able to shape that demand and sell more of your goods in the market? Adapt refers to building flexible and adaptive supply chain, integrated best-in-class logistics network, transportation management, warehouse management, global trade management - all these processes—to provide a very seamless best-in-class customer experience. And as changes happen in the market place, you must have infrastructure to rapidly respond and quickly adjust your supply chains to ensure you are not losing your business. Innovation comes in multiple dimensions. We talk about product innovation, service innovation, process innovation etc. But when we talk of supply chains, people talk only of supply and demand. There are three legs to a supply chain—product, supply and demand. The whole notion of integrating product life cycle management into your supply chain is ensuring that—as you build in new products, they are optimized for cost and time. This is how you accelerate innovation, and ensure that they are designed for supply. The key benefit is—it shrinks your time-to-market, and thereby captures market share, more profitably. Aligning your supply chain with your corporate plans is to deliver on the profitability matrix, which your company has set for themselves. Sustainability includes a number of areas or activities, such as

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energy consumption, green house gas reduction etc. Now, energy consumption means—how do you quickly understand what energy are you consuming and how can you minimize wastage? There are specific solutions that we offer, so that companies can effectively monitor their respective energy consumptions. The other thing is green house gas reduction. A large percentage of carbon footprints comes from transportation. How can you optimize your transportation network and make sure that only the fully loaded trucks are moving? Our solution shows the way. What is your comment on cost effectiveness of deploying IT in the Indian manufacturing scenario? When we talk about cost effectiveness, companies need to look at the value or the return on investment (ROI) they will get. They need to have focus on ROI, the value and payback. It is not a cost-centric view, but a value centric view that companies need to have. But then the reality of the scenario is that all companies can afford to invest in infrastructure. There are flexible models that they can use. The traditional approach is—companies take technologies and implement them in their facilities. They become the owner. The other option on demand is ‘you pay as you go’. Software-asa-service (SAAS) can also be an attractive option for companies that don’t want to invest heavily upfront, and basically use the system on demand. How can IT help in ensuring green manufacturing? We have a solution specifically made for green manufacturing. The product actually monitors in real time the energy consumption that happens in an organization, a facility and plant or shopfloor.

We are bringing in the product with sensor-based capabilities to understand real time consumption of energy. So, it allows you to correlate energy consumption to production and value added activities. The moment you have visibility to non-value activities, you are able to manage better and eliminate waste. What is your message to the Indian manufacturers and supply chain management operators? Supply chain derives significant value, it has direct impact on customer satisfaction and

To be competitive

in this market, companies must adopt technology in their supply level to become global

profitability. Companies in India should move away from manual processes, and take them to the next level. To be competitive in this market place, they must adopt technology in their supply level to become global. They need to take a more holistic integrated view that does not just consider technology, but looks at people, process and performance measures in an integrated fashion to drive some key benefits. Lastly, I would like to say that India is a very important market for Oracle. The country is still on a positive growth path. We would like to focus on this region. n

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cover story

Building and Leveraging Metrics Framework

To Drive Supply Chain Performance A well designed and integrated metrics framework increases the capability of business intelligence systems to provide accurate insights for effective supply chain decision making. A metrics framework-based approach to supply chain performance management is fundamental to leverage investments in business intelligence and analytics. by tejas faldu, srikanth krishna

S

upply Chain Performance Management (SCPM) has been a critical area for consumer packaged goods (CPG) companies in their efforts to develop an agile, lean and efficient customer-oriented supply chain. A robust SCPM infrastructure is crucial to realize the benefits of various collaborative initiatives. However, CPG companies need to resolve some crucial questions before making

significant investments in SCPM initiatives. These include: l Is there an enterprise-wide awareness and understanding of strategic and financial objectives? l Is there an understanding of the financial impact of supply chain performance on overall corporate performance? l Are all processes and roles in the supply chain mapped to key metrics to determine performance?

l Is there a mechanism to periodically review actual supply chain performance and redefine performance measures in the changing business context? l Is there an integrated single view of supply chain performance across functions and hierarchies? l Is senior management able to quickly determine the causes for supply chain failures? We shall now focus on defining and building a ‘metrics framework’ to effectively leverage and drive supply chain performance management.

Developing the supply chain metrics framework

A balanced set of metrics, aligned to various supply chain functional areas—demand planning, customer management, warehouse management, need to be identi-

Metrics belonging to different classes Strategic Objective

Typical Metric

Class

What it signifies

Customer Satisfaction

Perfect Order

Strategic

Reliability of the supply chain to meet customer orders in quantity, in-time, quality and with complete accuracy on documentation.

Manufacturing Schedule Adherence

Tactical

Ability of manufacturing to supply as per planned manufacturing schedule and meet desired inventory levels for a make-to-stock item or meet desired customer delivery schedules for make to order items.

Customer Satisfaction

Machine Downtime

Operational

Loss of manufacturing capacity due to various reasons like machine breakdown, planned preventive maintenance, stock-out of input materials, etc.

Customer Satisfaction

Supplier Delivery Schedule Adherence Operational

Ability of vendor to supply as per planned supply schedule.

Operational Excellence

Cash-to-cash Cycle Time

Strategic

Time taken between cash spent to purchase raw material to the time taken to realize cash-on-sales to customers, e.g. days of inventory, accounts receivable in days, accounts payable in days.

Operational Excellence

Total Supply Chain Cost

Strategic

Total costs incurred in the supply chain including warehousing, logistics, purchasing, planning, manpower costs, etc

Customer Satisfaction

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- technology management for decision-makers

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Metrics bank for Inventory Management Process Metrics

Performance Attribute

Class

Measurement Hierarchy

Formula

Inventory Turnover Ratio

Asset Utilization

Strategic

Product

(Monthly COGS/ Average Total Inventory Value)* 12

Inventory Carrying Cost

Cost

Tactical

Product

Inventory Value* Cost of Capital

Finished Goods Inventory

Asset Utilization

Operational

Product, Geography

FG Inventory Value and % of Total Inventory Value

fied to address decision-making requirements. These metrics should be mapped to the processes of each supply chain function, the overall business strategy and the roles responsible for executing these processes.

Establishing the right metrics The key characteristics of metrics include: Reliability—This refers to the consistency of the metric used to measure a given process. As long as the circumstances governing the process do not change, the metric should return a fairly consistent value. A large diversified manufacturer uses Cost of Goods Sold (COGS) as the basis for calculating inventory turns. Since the manufacturer had a substantial import content of raw materials, exchange rate fluctuations led to sharp variations in COGS, even when overall sales were constant. Such variations in COGS led to similar variations in inventory turns though sales and inventory value, the two key determinants of inventory turns, were constant. Under these circumstances, COGS is an unreliable metrics for computing inventory turns. Validity—A valid metric is one that measures the concept in a specific business context.

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Unit of Measure

Metrics Influenced

Metrics Influenced By

Freq.

Role

No

Monthly

Supply Planner, Cash-toSupply Chain Cash Cycle Head Time

Forecast Accuracy, Manufacturing Schedule Adherence, Sales Returns

Value

Monthly

Financial Analyst, Supply Chain Head

Total Supply Chain Costs

Inventory Value, Cost of Capital

Daily

Supply Planner, Sales Manager

Days of Inventory

Forecast Accuracy, Manufacturing Schedule Adherence

Value %

Many CPG manufacturers today focus on making their demand planning and fulfillment processes agile and responsive, through greater collaboration with sales, supply chain and manufacturing. One metric for measuring the effectiveness of this collaboration process could be the number of ‘expedited work orders. While this metric may suggest inefficient planning in the first place, from a collaboration point of view it can be indicative of a more healthy process of revising supply plans to reflect actual demand changes in the markets. Accessibility—Good metrics must be easily accessible, i.e., retrieved with reasonable effort and cost. Relevant—Metrics need to be meaningful so that concerned functions/ people can relate to the information and take intelligent and proactive decisions. Additional considerations about metrics include: l Metrics are most useful when embedded in a metrics model that represents a business process l The criticality of a metric is determined by the process performance insight that it provides. l Metrics need to be assigned to roles that have process execution, monitoring and tracking responsibilities

Linking metrics to overall strategic objectives This involves multiple steps: l Determine the strategic objectives to evaluate your supply chain (e.g., customer satisfaction, enterprise profitability, etc.). l Under each of these strategic objectives, build related supply chain metrics hierarchy starting with high-level metrics—suggestive of the overall health of the supply chain, to mid-level and lower-level metrics—more tactical or operational in nature.

Creating the detailed metrics bank This is a multi-step process to create an exhaustive set of related metrics that involves: l Associating metrics with each supply chain process l Mapping the metric to the role that is directly accountable and responsible for its measurement and performance l Identifying the class of the metric based on the information and process health insight it conveys l Building high-level interdependencies of metrics based on common knowledge and understanding of basic processes l Identifying the various dimensions to enable a comprehensive view of the metric

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- technology management for decision-makers | february 28, 2010

39


cover story Product Availability at Shelf

Store Inventory Availability

Forecast Accuracy POS & Shelf Inventory Availability

Ordering Efficiency Promotion Plan Visibility

Order Quantity vs. Demand

Collaboration Process Adoption

Documentation Accuracy

Ordering Frequency

Leveraging the supply chain metrics framework Now, we shall demonstrate how metrics frameworks can

No metrics framework is likely

to identify all relevant variables. However, enterprises must make a conscious effort to build a metrics model—that is comprehensive enough for their business

context

february 28, 2010 | industry 2.0

Staff Productivity

Order Fulfillment Time Customer Transit Time Variance

Manufacturing Schedule Adherence

Quality Adherence

Warehouse Productivity

A guided analysis path for ‘Product Availability at Shelf’

l Determining how metrics will need to be computed l Determining the frequency at which the metrics will be measured—this will also be governed by the granularity of available data and the costbenefits associated with a certain measurement frequency

40

CPG Manufacturer OTIF Delivery Performance

Backroom Clearance Time

be leveraged to enhance supply chain performance.

Generating insights using causeand-effect guided analysis A metrics framework is a collection of relevant metrics. These metrics are inter-related to establish a cause-and-effect relationship, which helps in determining the root causes of failure of various business processes. To illustrate this, let us focus on ‘product availability at shelf’ as an effect and start building a metrics framework. The end objective is to ensure product availability at the shelf. The framework clearly highlights the need to collect important metrics like forecast accuracy, order fulfillment times, manufacturing schedule adherence etc. In the absence of a good framework, having data regarding ‘product availability at shelf’ and not of the related metrics, would severely limit constructive use of the end-result data. A word of caution—‘every metrics framework is unique.’

- technology management for decision-makers

Each enterprise is expected to have a metrics framework, which is unique in terms of number, the types of causes as well as the hierarchy, and criticality of causes to the end-effect. Key points to be considered while defining the metrics framework include: l No metrics framework is likely to identify all relevant variables. However, enterprises must make a conscious effort to build a metrics model—that is comprehensive enough for their business context. This can be best achieved by deploying a cross-functional team with a strong understanding of underlying processes and responsibility for process execution. l Top management sponsorship is also critical to ensure that the metrics framework identified by the cross-functional team is aligned with the overall enterprise objectives. l Some element of judgement and approximation in developing the metrics framework is unavoidable. Given this, there should be a focused effort to identify the most relevant and high impact causes.

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A Simple Supply Chain Scorecard Typical Metric

Performance Attribute

Strategic Objective

Benchmark Baseline

Entitlement

Target

Actual

Benefits from Improvement

Perfect Order

Reliability

Customer Satisfaction

75%

90%

80%

60%

$50M savings in lost sales

Order Fulfillment Time

Responsiveness

Customer Satisfaction

3 days

2 days

2 days

3 days

$10M additional revenue from surge orders

Forecast Accuracy

Process Improvement

Operational Excellence

85%

95%

90%

75%

Key enabler to customer satisfaction and operational excellence

Cash-to-cash cycle time

Asset Utilization

Operational Excellence

90 days

75 days

85 days

105 days

$70M reduction in working capital; $10M savings in interest cost

Total Supply Chain Cost as a % of COGS

Cost

Operational Excellence

15%

10%

10%

18%

$45M reduction in direct cost; $20M reduction in indirect cost

l Like metrics, metric frameworks tend to be highly contextual in nature. They are dependent on the team developing them— knowledge, goals for measurement, and vision on how the SCPM system should integrate with the overall enterprise performance management objectives. Besides people, data availability, accuracy etc. are other factors that must be considered. These also act as constraints in designing the metrics framework. l Metric framework cannot be static, and has to be continuously refined to align with enterprise objectives. As the enterprise IT landscape changes, metrics ignored earlier for lack of data availability may need to be accommodated to make the framework more robust and relevant.

Quantifying financial impact of supply chain metrics This process is used to link supply chain metrics to financial Key Performance Indicators (KPIs). Example, cash-to-cash cycle time metrics framework linked to return on assets, total supply chain cost metrics framework linked to net margin through COGS etc. We need to establish the link with financial measures as it helps quantify the performance of supply chain metrics and better

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understand its full impact on the enterprise’s top line and bottom-line. Enterprises use these scorecards to determine priorities for investments for improving processes and related technology. Such scorecards help establish a standardized ‘single version of truth’ on supply chain performance, which is quantifiable and understood by all entities in the organization.

Review the supply chain scorecard in the Sales and Operations Planning (S&OP) process While metrics reflect the overall health of the supply chain and various functions, they need to be supported with process mechanisms. These mechanisms enable a joint review and formalization of corrective plans from a crossfunctional perspective. Some best practices for implementing effective sales and operations planning (S&OP) processes include: l Establishing pre-scheduled meeting, with well-defined agenda, with critical players in the supply chain, along with their cross-functional teams l Articulating and quantifying the performance of the supply chain. This in turn leads to performance measures for individual players of the network

l Adequate review of metrics and root causes at functional levels to make cross-functional S&OP meetings effective l Benchmarking supply chain performance with the best in and across industries Another key requirement to enable an effective S&OP is to have the IT capability to aggregate and structure enormous supply chain information and data—originating from disparate IT systems. This facilitates overall view of the supply chain.

Conclusion

Supply Chain Performance Management is a process-centered approach towards business decision-making. It helps manage supply chain performance, using a metrics framework for stakeholders, managers and employees, within an integrated management environment. SCPM should be a business-critical process; driven by metrics and supported by business intelligence. With increasing competition and changing market forces, tapping into this critical asset is essential in sustaining competitive advantage in the CPG space. n Tejas Faldu is a Senior Consultant with Infosys’ Retail and CPG practice. Srikanth Krishna is a Senior Project Manager with Infosys’ Retail and CPG practice.

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41


cover story

Designing an Optimal

Supply Chain

Network using Mathematical Models Facilities Installation Planner (FIP), a software based on Mixed Integer Programming (MIP) offers a solution to evaluate and redesign the supply chain. FIP, specifically customized for GST, has added features like path algorithms, and comprehensive databank of distance information that allow companies to rapidly redesign their supply chain. by r krishnamurthy

Goods and Services Tax

(GST) is a destinationbased tax on consumption of goods and services— with an input credit mechanism across the value chain

42

february 28, 2010 | industry 2.0

G

oods and Services Tax (GST) is a destination-based tax on consumption of goods and services—with an input credit mechanism across the value chain; i.e., taxation is only on a value added basis. GST is likely to subsume most indirect taxes (currently levied on both goods and services) under a single umbrella. Major taxes likely to be subsumed are CENVAT, VAT and service tax. GST would also mean removal of the existing CST, which is payable on inter-state sales; a tax that is not allowed to be set off against further taxes in the value chain.

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GST is likely to be introduced by April 2010, and likely to have a dual structure to be administered both at the Centre and State level.

Impact of introduction of GST

GST would have significant impact on the supply chain network of companies. This is because the tax structure would fundamentally move away from taxes that cannot be set off (and hybrid situation) to a tax structure based on value add, on an all India basis. This would mean that there wouldn’t be any taxation so long as there is no value add between transits. Hence, a product that moves from Pune plant to Vashi warehouse to a depot in Andheri would be charged the same total quantum of GST irrespective of the length and location of the transfers (assuming there is no valueadd in the transfers). Hence, if the same product flows from Pune plant to Jaipur warehouse to Andheri depot, the GST would be the same, though the supply chain cost would obviously be higher. The implication of this: l It is now possible for us to create a supply chain network that focuses only on the supply chain costs rather than on taxation; The supply chain network would be tax neutral as far as GST goes. However, on a case basis, there would be other taxes such as Entry tax/Octroi that would still be levied. l The efficiency of supply chain would fundamentally only depend on

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the minimization of cost, such as primary and secondary freight, CFA charges, warehouse fixed and variable cost, depot fixed and variable cost etc. The following considerations (not limited to these choices) will serve as the key factors for designing a new supply chain: l Choice of warehouse locations, depot locations with respect to the p lants an d th e m arkets l Design of the supply chain such as meshed design vs. hub an d sp oke v s. c ombinations thereof l Choice of the warehouse capacity and depot capacity l Choice of mode of transport such as road (9 tonner vs. 15 tonner vs. 20 tonner) and rail (Half rake, full rake, two point rake) for the different linkages l Inventory and transportation strategies—such as replenishment cycle, safety stock, milk runs etc.

GST opportunity for supply chain redesign

Most of the companies in India have grown their supply chain over the years on an incremental basis. The Logistics and Supply Chain industry has seen significant changes such as: l Introduction of technology in information technology / information systems, material handling, transportation etc. l Expansion into new geographic markets, e.g., low volume rural thrust l Proliferation of products and brands, increase in number of stock keeping units (SKUs) l Availability of specialized service providers for transportation, 3PL/4PL, warehousing etc. These changes have an overarching impact on the Supply Chain Network Design and Operations. Some of these changes have been rapidly adopted

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by newer companies as well as multi-national companies (MNCs), however, most companies still need to relook at theirsu pply chain network or operations. GST is yet another development that could have a significant impact on on the supply chain network design, because it removes one of the key erstwhile design considerations, namely indirect taxation. This gives companies a fresh incentive to relook at the supply chain network.

Network redesign using mathematical modeling

Any supply chain consists of the following key entities namely: l Suppliers (raw materials / sub assemblies / parts) l Manufacturing plants l Warehouses l Depots l End customers Based on the demand of different products in different markets, a company tries to optimize supply chain cost by ensuring that: l The location of the different entities are appropriately based on demand / supply, on a long term basis, as also the service levels l Capacity of the different entities are appropriately based on demand/supply and supply chain strategy l Number of the different entities l Structure of the supply chain network in line with the supply chain strategy Modeling the entire supply chain network and simulating the supply / demand / capacity of the system (or based on past actual performance), is an effective, inexpensive and comprehensive method to evaluate the performance of the network under different input conditions. MIP is the mathematical tool used for Network Design and Optimisation.

FIP product using MIP

This allows us to model the supply chain, and simulate its operations in an efficient and cost effective manner. The inputs to the MIP include: l Details, such as location of entities like suppliers / plants / warehouses / markets l Details of linkages between these entities l Variable / fixed cost of operations at the relevant entities l Mode options for all the links and the cost of the mode option l Demand / supply / capacity of the relevant entities The output of the MIP is: l The behaviour of the supply chain network for different

Mixed integer programming (Mip)

is a technique that allows modeling of the supply chain and simulating the operations of the same. combination of demand / supply / capacity l The choice of structure / location / capacity / number of each type of entity l Cost / contribution of the system for a particular demand / supply / capacity / cost configuration Other possibilities with MIP: l Since MIP is a simulated model of the real supply chain, it is possible for us to create various scenarios of demand / supply / capacity and study the response. l Also, we can study the possibility of redesign by using ideas such as ‘hub and spoke’ etc., to study which design works best without compromising the service levels.

GST approach

The overall objective of the

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43


cover story GST assignment is to critically evaluate the structure, design and capacities of the supply chain, so that it can be optimized in such a way that the cost of supply chain is minimized while ensuring that the service levels are met. IGSA uses a customized version of the Facilities Installation Planner (FIP) to model the client’s network. The customisation takes into account additional requirements such as finding additional linkages between two entities, data on distances / costs of these linkages etc. The approach is customized for each customer using the following steps.

Input stage

Understanding the network: We study the ‘as is’ supply chain network in terms of the location / capacity of the different entities, the flow of products through the different entities and the modes used for the product flow. In addition, we also understand the heuristics (rules) used in the supply chain such as—treatment of part shipment, type of trucks, service levels required, hub-spoke rules etc.

Data population: We then populate the different types of data into the GST FIP, including: l Master data (Location of suppliers / plants / warehouses / markets / mode) l Transaction data (Market demand / supplier supply / plant availability / warehouse capacity / freight cost between links / tax) l Constraints data (Factors that make the model customized to ip advantages l Speed of execution l Database of more than 1200 districts l Multi period specific algorithms l Scenario / ‘what if’ analysis l Modeling supply chain strategies

44

february 28, 2010 | industry 2.0

the client’s real life situation, for example, capacity of the mode / unavailability of certain modes in certain links etc.) Data quality and comprehensiveness is vital for the model’s accuracy; we use our own database and algorithms to plug information gaps—where the client does not have the data. This greatly increases the speed of execution.

Output stage

Base run—ideal case: We would run the ‘Base Run’, which would replicate the demand / supply / capacity for a historical period (last one month, last year) as is appropriate for the client / industry. This would study the performance of the model against the actual, and ensure that all entities are adequately connected. It also gives the ideal flows (not taking into account exigencies / day to day sub optimal decision making) within the network for least cost.

Scenarios and strategies: Then we add the required constraints as per the client’s requirements to make the model more representative of the reality. This would make the network suboptimal but closer to reality. The next step involves interaction with the client and trying out the following: l Scenarios—These test the behaviour of the supply chain network for different cases of demand / supply / capacities / constraints l Strategies—These refer to specific changes in the design in the network such as hub and spoke / fully meshed / hybrid for the same demand / supply / capacity/ constraint and behaviour of the supply chain network.

Advantages of such a solution

The structured approach and

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data bank provides the following advantages: l Speed—We have designed different types of supply chains from cement companies to FMCGs to consumer durables to commodities, and hence we can very quickly adapt to a new template or use the existing templates. Our FIP product is customized for network design, and has been tried and tested in other client situations. l Database for data completion—Network design requires a significant amount of data; while most corporates have demand / supply data, they may or may not have the freight data for each linkage between plant-warehouse and warehousemarket etc. We have built a database of linkages for more than 1200 districts, which lists the distance link-wise and that can be used as surrogate. l Long term view—The model has the capability to run on a multi-period (two to five-yeartime-cycle) basis. This is the key given that the supply chain network design has long term ramifications. l Scenarios—We have created a number of scenarios that take into account changes in the input data in terms of demand / supply / capacity / constraints – to study the impact of the above on the outputs cost / contribution / product flows. l Strategies—We have created specific algorithms for finding out the K shortest path between entities; this is useful in case of evaluating supply chain strategies such as hub and spoke / meshed network and combinations. l IGSA has also developed other heuristics to look at candidate locations for the hubs and the spokes. n R Krishnamurthy is a Partner of IGSA.

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supply chain metrics

Measuring the

effectiveness of Manufacturing Supply chainS

Indian manufacturing has come a long way since the liberalization of the economy. Companies have relentlessly focused on adopting and assimilating new technologies, using modern manufacturing practices, and focusing on quality to achieve operational excellence. However, the economic downturn during the past months has dramatically shifted the focus to issues like productivity, efficiency and cost reduction. But, is India Inc. taking a hard look at its supply chain? By Sukriti Katiyal

O

ur annual study of supply chain management (SCM) metrics for India’s top manufacturing companies examines how effectively companies are managing the procurement and distribution of goods. Since, SCM is usually a complex process involving a number of variables, our study is based on published financial data that provides an overall view of the efficiency of supply chain operations within an organization. SCM metrics

that involve customer-linked measures like “order fulfilment time”, “percentage on-time delivery”, etc. , are not covered in this analysis.

The Selection Process We used the Centre for Monitoring of Indian Economy (CMIE)–Prowess database to source data for this study. This regularly updated database is a comprehensive, authentic source of financial information on the Indian industry. Readers should note that

Calculating The Composite Score Ranking Logic

Rank Weight

Finished Goods Holding Period

Lower value is better

50%

Work in progress holding period

Lower value is better

50%

Raw Material Holding Period

Lower value is better

50%

Creditors Days Available

Lower value is better

30%

Debtors Days Available

Higher value is better

30%

Cost of Goods Sold (as % of sales)

Lower value is better

20%

Category

Inventory Cash-to-cash Cycle Time Financial Health Indicators

46

Parameter

Fixed Assets Turnover Ratio (FATR)

Higher value is better

20%

PBIDTA (as % of sales)

Higher value is better

20%

february 28, 2010 | industry 2.0

- technology management for decision-makers

there has been no attempt to refer to annual reports of companies or any other database except CMIE-Prowess for this analysis. Only manufacturing companies—spanning a wide variety of sectors—were selected from the CMIE-Prowess database for analysis. For a company to be a part of this year’s ranking, it was necessary that complete data for financial years 2007 and 2008 be available in the CMIE-Prowess database. Additional filtering was performed to eliminate companies for which the database had missing or error values (for selected parameters). The analysis was done on two sample sets. One for large companies, and another for SMB manufacturers. The principal reason for distinguishing between SMBs and large manufacturing companies was to eliminate the size bias that would influence the ranking of SMBs. Companies were classified on the basis of net sales figures—1,537 companies were classified as SMEs (sales between

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methodology ranking, we grouped the Supply Chain Metrics: companies into different Large Manufacturing Companies sectors to ensure approIndustry Sector Large priate peer comparison. Three categories of 1 Auto Ancillaries 48 data, comprising eight 2 Automobiles and Construction Equipment 26 parameters, were select3 Cement 24 ed to represent the char4 Chemicals 63 acteristics of the internal 5 Cosmetics & Cleaning 13 supply chain of manufacturing companies. These 6 Diversified Manufacturing 20 are: Inventory (paramParameters and Ranking Process 7 Drugs and Pharma 51 Comparing firms across sectors eters include raw mate8 Electrical Machinery 20 would have led to misleading re- rial holding period, work 9 Electronics 25 in progress holding pesults, because within each sector 10 Ferrous Metals 79 the need for the working capital riod, and finished goods funds is contingent on the nature of holding period); Cash-to11 Food & Beverage 64 operations. Industries with lengthy cash cycle time (creditor 12 Generators and Power Equipment 14 production cycles will require larger days available, debtor 13 Glass & Ceramics 15 working capital compared to sec- days available); Financial 14 Non-Electrical Machinery 28 tors with shorter production cycles. health indicators (cost 15 Non-Ferrous Metals 11 Consequently, for our analysis and of goods as a percentage of sales, 16 Paper & Wood Products 12 fixed asset 17 Petroleum Products 12 Supply Chain Metrics: Small & turnover ra18 Plastics & Polymers 18 Medium Manufacturing Companies tio, PBITDA 19 Textiles 65 Industry Sector Small as percentage of sales). 20 Tyres Tubes & Rubber Products 10 1 Auto Ancillaries 123 While the 21 Wires & Cables 12 2 Automobiles & Construction Equipment 25 inventoryTotal 630 3 Cement 15 related pa4 Chemicals 138 rameters are 5 Cosmetics & Cleaning 18 the most important for generated through the following evaluating the supply process: 7 Drugs and Pharma 112 First, the selected companies chain efficiency of any 8 Electrical Machinery 31 manufacturing organiza- were segregated into large and SME 9 Electronics 54 tion, other parameters categories. In both categories, every 10 Ferrous Metals 125 like creditors and debt- company was assigned to an industry 11 Food & Beverage 149 ors days available shed sector (based on the primary nature light on the ability of of industrial activity carried out by 12 Generators & Power Equipment 33 organizations to manage the organization). Companies in ev13 Glass & Ceramics 36 liquidity positions. In the ery sector were ranked relative to 14 Leather & Leather Products 14 current economic slow- other companies within the sector 15 Machine Tools 20 down, where the cash on each of the eight parameters. The 16 Non-Electrical Machinery 62 has become king again, ranks obtained by each company on managing both debtors each of the eight parameters were 17 Non-Ferrous Metals 32 and creditors is vital for individually weighed to generate 18 Non-Metallic Mineral Products 21 operational efficiency. individual composite scores. (The 19 Paper & Wood Products 91 weights assigned to the parameters We also have included 21 Plastics & Polymers 96 certain financial param- are shown in the table Calculating 22 Textiles 288 eters that indicate the The Composite Score). Finally, the overall health of manu- composite scores were arranged 23 Tyres Tubes & Rubber Products 29 in ascending order (within each facturing companies. 24 Wires & Cables 25 The composite score category), to produce the final comTotal 1537 for every company was pany rankings. n Rs 10 to Rs 300 crores), and 630 as large companies (sales greater than Rs 300 crores). In each set, the identified companies were segregated by industry sector (24 industry sectors for SMEs and 21 for large companies). Sectors with less than 10 representative companies were eliminated. Finally, we ranked 2100+ companies.

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47


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

2007

2008

2007

2008

2007

PBDITA (Rs. Crore)

PBDITA/Net Sales

2008

2007

2008

2007

2008

Auto AncillAries 1

Jay Bharat Maruti Ltd.

Other Automobile ancillaries, nec

519.76

657.39

0.87

0.87

3.24

4.11

42.77

49.09

8%

7%

2

Munjal Showa Ltd.

Shock absorbers

701.51

719.84

0.81

0.81

3.61

3.71

53.2

47.3

8%

7%

3

Sona Koyo Steering Systems Ltd.

Drive transmission & steering parts

583.63

690.16

0.80

0.80

2.55

3.01

63.79

67.83

11%

10%

4

F C C Rico Ltd.

Automobile ancillaries

280.29

316.09

0.75

0.75

9.57

10.79

56.35

55

20%

17%

5

Sandhar Technologies Ltd.

Automobile locks

354.89

386.89

0.78

0.75

2.49

2.63

37.19

38.14

10%

10%

6

Toyota Kirloskar Auto Parts Pvt. Ltd.

Drive transmission & steering parts

589.03

637.04

0.67

0.67

1.65

1.78

102.52

116.65

17%

18%

7

Sunbeam Auto Ltd.

Auto castings

840.86

783.7

0.78

0.79

5.70

5.33

49.14

47.76

6%

6%

8

Krishna Maruti Ltd.

Auto seating systems

400.45

525.11

0.86

0.88

6.77

9.03

29.14

41.65

7%

8%

9

Omax Autos Ltd.

Other Automobile ancillaries, nec

695.24

725.63

0.77

0.80

2.01

2.16

76.56

76.78

11%

11%

10

Automobile Corpn. Of Goa Ltd.

Other Automobile ancillaries, nec

334.92

336.13

0.72

0.72

11.22

11.33

33.71

32.54

10%

10%

11

Bosch Chassis Systems India Ltd.

Suspension & braking parts

366.52

544.78

0.69

0.70

2.30

3.51

56.79

83.7

15%

15%

12

S L Lumax Ltd.

Auto head lights

230.78

312.53

0.81

0.76

2.03

2.58

23.92

52.94

10%

17%

13

Minda Industries Ltd.

Automobile equipment

393.1

404.3

0.80

0.80

2.56

2.62

39.81

47.81

10%

12%

14

Rico Auto Inds. Ltd.

Automobile ancillaries

776.49

719.01

0.78

0.77

1.41

1.29

97.09

103.06

13%

14%

15

Sharda Motor Inds. Ltd.

Automobile ancillaries, nec

304.79

368.54

0.77

0.78

2.42

2.95

42.88

48.71

14%

13%

16

Endurance Systems (India) Pvt. Ltd.

Shock absorbers

374.77

394.23

0.88

0.85

3.64

3.70

19.35

18.02

5%

5%

17

Amtek India Ltd.

Automobile ancillaries

476.46

771.72

0.72

0.69

0.71

1.10

140.2

224.54

29%

29%

18

Amtek Auto Ltd.

Automobile ancillaries, nec

894.26

1191.32

0.65

0.63

0.80

1.03

290.5

412.32

32%

35%

19

Lucas-Tvs Ltd.

Electrical automobile parts

914.81

965.53

0.77

0.78

3.86

4.11

103.71

106.06

11%

11%

20

Banco Products (India) Ltd.

Automobile engine parts

265.71

305.03

0.69

0.63

3.04

3.16

39.7

64

15%

21%

21

Gabriel India Ltd.

Shock absorbers

521.31

475.42

0.74

0.74

3.27

2.99

116.87

33.3

22%

7%

22

Spicer India Ltd.

Axle shafts

577.18

638.83

0.69

0.68

4.91

5.31

65.59

71.06

11%

11%

23

Rane (Madras) Ltd.

Steering gears

329.94

349.57

0.73

0.67

3.96

3.85

31.11

61.77

9%

18%

24

Automotive Axles Ltd.

Axle shafts

461.76

617.32

0.74

0.75

2.77

3.71

84.73

106.51

18%

17%

25

Tata Toyo Radiator Ltd.

Radiators

308.83

331.21

0.75

0.66

3.35

3.15

31.31

49.3

10%

15%

26

Hinduja Foundries Ltd.

Automobile ancillaries

394.18

451.44

0.69

0.68

1.39

1.58

41.76

55.71

11%

12%

27

Motherson Sumi Systems Ltd.

Wiring harness & parts

1100.54

1328.08

0.67

0.68

2.23

2.72

217.72

224.27

20%

17%

28

Ucal Fuel Systems Ltd.

Carburettors

298.46

306.01

0.62

0.63

1.73

1.81

42.84

41.07

14%

13% 12%

29

Denso India Ltd.

Electrical automobile parts

427.69

474.43

0.79

0.79

6.30

7.00

56.88

55.75

13%

30

Jamna Auto Inds. Ltd.

Leaf springs (Automotive)

278.58

469.68

0.73

0.68

3.21

4.99

7.83

60.16

3%

13%

31

Sundram Fasteners Ltd.

Automobile ancillaries

1193.83

1216.35

0.55

0.56

1.62

1.69

168.38

168.86

14%

14%

32

Automotive Stampings & Assemblies Ltd.

Auto sheet metals parts

33

Subros Ltd.

Automobile ancillaries, nec

34

Wheels India Ltd.

Wheels for automobiles

313

301.25

0.84

0.81

3.98

3.71

29.8

20.82

10%

7%

647.21

662.83

0.78

0.77

2.69

2.72

76.74

87.94

12%

13%

1005.36

1143.73

0.82

0.82

3.05

3.48

86.8

112.16

9%

10%

35

Halonix Ltd.

Auto head lights

280.61

359.86

0.61

0.69

1.79

2.61

48.09

69.73

17%

19%

36

Bosch Ltd.

Automobile engine parts

3895.21

4505.05

0.62

0.60

4.43

4.98

1071.27

1132.77

28%

25%

37

Sundaram-Clayton Ltd.

Suspension & braking parts

855.94

458.77

0.65

0.69

1.71

0.97

178.26

78.43

21%

17%

38

Shriram Pistons & Rings Ltd.

Pistons

479.34

555.05

0.49

0.48

0.73

0.83

108.29

123.96

23%

22%

39

Turbo Energy Ltd.

Automobile ancillaries

466.74

486.48

0.63

0.63

3.30

3.44

122.11

126.55

26%

26%

40

Pricol Ltd.

Automobile equipment

605.93

636.82

0.75

0.85

1.89

2.26

98.28

82.07

16%

13% 14%

41

Brakes India Ltd.

Suspension & braking parts

1418.65

1655.83

0.70

0.73

2.51

3.07

209.55

234.65

15%

42

Lumax Industries Ltd.

Auto head lights

547.84

533.24

0.84

0.84

3.13

3.05

48.6

44.73

9%

8%

43

G K N Driveline (India) Ltd.

Drive transmission & steering parts

296.61

336.05

0.57

0.57

1.55

1.75

56.6

59.94

19%

18%

44

Delphi-T V S Diesel Systems Ltd.

Fuel pumps, diesel

502.98

467.69

0.68

0.63

1.83

1.57

108.02

71.71

21%

15%

45

Avtec Limited

Automobile ancillaries, nec

573.68

478.75

0.76

0.73

2.02

1.61

82.08

75.03

14%

16%

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

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large manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days) 2007

2008

Creditors Days Available (Days) 2007

2008

Raw Material Holding Period (Days) 2007

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2008

2007

2008

2007

Composite Score

2008

44.97

33.67

10.29

8.49

2.92

2.69

0.63

0.57

39.7

46.65

45.47

16.04

12.89

3.11

3.14

0.71

0.87

43.2

31.66

33.43

55.41

51.8

18.2

15.87

2.99

2.59

0.77

0.59

44.4

NA

35.42

43.47

41.51

NA

25.1

NA

3.04

NA

8.66

46.7

NA

52.34

67.16

54.21

NA

23.06

NA

3.85

NA

1.66

47.5

NA

34.65

45.58

47.93

NA

30.88

NA

2.67

NA

4.56

49.5

32.27

39.42

53.21

49.36

15.87

20.22

8.42

9.41

1.11

1.21

50.9

20.91

23.73

80.18

66.33

4.44

5.35

0.27

0.22

7.52

3.61

51.0

26.07

34.26

43.62

34.2

8.75

10.23

2.69

3.18

4.68

4.98

51.7 52.3

41.82

50.35

63.91

62.52

11.93

15.75

16.25

16.3

1.87

1.47

80.85

55.57

86.54

71.89

40.47

30.61

8.18

6.91

4.02

4.43

53.7

42.81

46.05

55.7

65.17

22.38

32.01

3.75

3.33

2.14

2.72

54.3

41.58

42.24

55.93

57.42

18.59

22.19

3.74

5.42

1.64

1.97

54.7

36.03

51.5

46.21

46.05

23.55

33.01

10.05

15.73

0.23

0.12

56.5

38.61

34.65

61.75

60.41

29.85

20.7

5.96

5.55

3.01

2.77

57.5

37.94

38.84

35.28

50.63

7.37

7.45

3.96

5.07

6.3

11.55

60.1

50.96

47.13

75.93

79.74

15.7

16.84

83.84

58.38

0.21

0.14

60.2

46.2

44.31

74.31

80.12

21.93

17.65

59.4

54.64

0.24

0.3

60.4

38.49

46.42

45.82

51.77

24.41

30.81

6.33

7

8.97

8.17

60.4

66.68

74.18

36.63

35.94

48.54

52.28

11.52

13.33

9.97

11.57

60.9

39.32

45.2

39.29

51.04

25.03

28.25

7.88

10.33

6.01

4.36

60.9

43.48

48.12

92.82

93.74

18.05

20.67

12.2

13.66

2.63

4.72

61.9

45.15

46.01

53.2

53.64

29.76

30.3

10.25

9.85

20.66

19.73

63.0

34.82

33.44

48.09

57.85

42.11

38.86

13.58

14.11

1.66

1.27

65.8

48.92

53.98

77.6

74.14

49.22

49.71

6.74

7.5

5.86

6.8

67.3

57.55

60.18

52.72

53.56

33.54

36.08

27.85

35.32

0.92

1.35

67.3

39.6

44.73

55.87

57.84

35.23

37.62

9.4

11.61

7.87

6.55

67.4

38.59

48.92

55.58

93.75

28.62

31.47

4.36

8

7.91

7.46

68.1

26.14

25.82

44.6

53.37

32.02

37.8

4.1

3.73

8.41

11.69

69.7

46.3

40.16

55.61

86.9

12.19

19.67

15.75

23.27

2.48

4.99

70.5

69.22

68.57

38.26

43.51

29.88

34.05

23.16

26.75

18.61

18.45

72.0 73.0

23.15

25.75

49.94

60.23

38.58

42.71

4.69

4.34

4.18

4.18

13.34

12.6

29.57

29.65

56.52

59.56

5.53

6.42

6.01

4.69

74.0

41.7

40.72

48.93

68.62

34.92

41.08

14.03

15.4

0.95

1.17

75.3

64.09

77.17

18.82

42.15

53.53

57.61

1.92

15.26

26.72

27.51

76.0

39.48

42.29

77.03

71.21

48.33

42.84

16.16

13.78

17.24

19.09

76.4

48.23

79.51

40.95

41.2

28.23

57.98

5.43

10.73

17.34

46.01

77.1

57.28

62.32

52.85

58.1

32.24

34.45

17.39

24.49

18.55

19.47

77.2

56.98

70.58

51.03

76.06

41.02

47.96

14.52

17.23

9.72

18.79

78.3

63.08

68.34

39.61

42.45

69.41

80.58

7.5

12.11

4.57

10.14

78.7 80.0

51.63

54.89

47.03

54.96

40.47

43.22

17.53

16.87

10.48

13.98

35.38

42.64

69.28

81.85

29.51

30.42

4.5

9.71

8.53

13.22

81.4

19.1

21.17

70.77

75.7

53.11

56.79

19.06

16.02

5.04

4.08

83.9

20.31

37.04

64.21

63.53

36.1

55.29

5.68

8.69

13.24

13.88

84.0

57.24

66.79

61.86

74.49

41.91

54.81

14.54

22.07

7.53

11.34

86.7

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

AuTo

18.25 33.79

AnCIllArIEs

18.73 32.76

Source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

49


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDITA (Rs. Crore)

PBDITA/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

Axle shafts

295.4

358.44

0.83

0.84

3.93

4.81

23.59

26.1

8%

7%

Bharat Forge Ltd.

Automobile ancillaries, nec

1941.95

2306.95

0.57

0.56

0.77

0.89

519.83

611.49

27%

27%

Federal-Mogul Goetze (India) Ltd.

Piston rings

402.9

627.52

0.52

0.59

0.60

1.05

48.07

67.2

12%

11%

46

Axles India Ltd.

47 48

Automobile And construction equipment 1

J C B India Ltd.

Earth moving machinery

2051.37

3186.27

0.70

0.71

7.12

9.38

358.81

621.4

17%

20%

2

Hero Honda Motors Ltd.

Motorcycles

10267.95

11011.68

0.75

0.75

5.71

5.28

1387.49

1573.76

14%

14%

3

Maruti Suzuki India Ltd.

Passenger cars

15250.5

18490.7

0.71

0.79

3.74

3.63

2586.4

3121.9

17%

17% 12%

4

Action Construction Equipment Ltd.

Mobile cranes

248.63

411.35

0.80

0.79

6.90

4.83

29.81

50.11

12%

5

New Holland Fiat (India) Pvt. Ltd.

Passenger cars

137.38

1321.42

0.96

0.85

0.28

1.26

63.48

165.25

46%

13%

6

Mahindra & Mahindra Ltd.

Utility Vehicles incl. jeeps

10250.36

11587.19

0.71

0.74

3.87

3.63

1648.21

1733.02

16%

15%

7

Escorts Construction Equipment Ltd.

Mobile cranes

360.55

540.12

0.82

0.80

16.68

7.58

29.32

42.12

8%

8%

8

L & T-Komatsu Ltd.

Earth moving machinery

809.46

1297.31

0.69

0.65

6.95

9.01

104.05

216.06

13%

17%

9

Honda Siel Cars India Ltd.

Passenger cars

3902.63

3957.55

0.78

0.92

8.13

4.08

479.42

484.06

12%

12%

10

Eicher Motors Ltd.

Motorcycles

1981.67

2233.25

0.77

0.81

5.05

5.57

143.26

137.57

7%

6%

11

Punjab Tractors Ltd. [Merged]

Tractors

977.42

988.08

0.83

0.79

8.67

8.64

125.71

113.42

13%

11%

12

Escorts Ltd.

Tractors

1864.31

2098.68

0.78

0.79

1.64

1.92

157.58

103.18

8%

5%

13

Atlas Cycles (Haryana) Ltd.

Bicycles

492.87

579.01

0.86

0.81

6.42

6.10

77.37

20.31

16%

4%

14

Elecon Engineering Co. Ltd.

Material handling equipment

719.78

829.03

0.65

0.68

3.66

2.92

116.42

140.51

16%

17%

15

Hindustan Shipyard Ltd.

Ships, boats, etc.

332.13

407.01

0.75

0.69

5.10

4.62

225.07

62.73

68%

15%

16

Tata Motors Ltd.

Heavy commercial vehicles

27522.88

29312.99

0.76

0.74

3.29

2.07

3362.32

3512.44

12%

12%

17

Titagarh Wagons Ltd.

Railway wagons, coaches, etc., nec

284.44

565.04

0.77

0.86

6.21

10.97

49.34

97.95

17%

17%

18

Mahindra International Ltd.

Commercial vehicles

357.49

467.78

0.87

0.89

5.06

3.91

2.61

3.16

1%

1%

3873.48

3244.41

0.78

0.83

3.00

2.57

220.34

149.56

6%

5%

621.67

665.45

0.92

0.85

3.01

3.32

58.6

90.47

9%

14%

2459.09

2586.69

0.65

0.74

9.35

8.14

335.17

388.8

14%

15%

19

T V S Motor Co. Ltd.

Two wheelers

20

Hindustan Motors Ltd.

Passenger cars

21

B E M L Ltd.

Earth moving machinery

22

Swaraj Mazda Ltd.

Light commercial vehicles

603.46

670.35

0.89

0.89

11.74

5.99

35.57

53.1

6%

8%

23

Ashok Leyland Ltd.

Heavy commercial vehicles

7420.84

8054.43

0.82

0.81

3.56

2.99

707.71

895.14

10%

11%

24

Asia Motor Works Ltd.

Heavy commercial vehicles

98.22

540.2

1.46

0.98

0.57

1.06

10.82

23.41

11%

4%

25

Force Motors Ltd.

Light commercial vehicles

1003.19

927.77

0.79

0.87

2.43

2.39

21.92

-7.33

2%

-1%

26

Hindustan Aeronautics Ltd.

Aircrafts

8647.57

10292.53

0.93

0.70

2.10

1.61

2133.63

2936.4

25%

29%

29%

cement 1

Penna Cement Inds. Ltd.

Cement

704.63

868.56

0.38

0.35

0.54

0.40

192.66

255.86

27%

2

My Home Inds. Ltd.

Ordinary portland cement

425.99

779.28

0.28

0.32

0.23

0.46

165.75

320.28

39%

41%

3

Andhra Cements Ltd.

Cement

99.56

442.25

0.79

0.48

0.61

1.48

70.4

89.62

71%

20% 34%

4

J K Lakshmi Cement Ltd.

Cement

851.03

1138.17

0.38

0.33

0.39

0.41

267.04

390

31%

5

Grasim Industries Ltd.

Cement

8799.46

10671.83

0.47

0.47

0.90

0.71

2656.48

3719.79

30%

35%

6

Madras Cements Ltd.

Cement

1566.74

2012.95

0.36

0.38

0.45

0.31

564.49

764.96

36%

38%

7

Ambuja Cements Ltd.

Cement

6336.66

6240.58

0.31

0.29

0.64

0.49

2384.26

2835.26

38%

45%

8

J K Cement Ltd.

Pozzolana portland cement

1250.12

1473.23

0.38

0.35

0.43

0.42

358

438.85

29%

30%

9

Shree Cement Ltd.

Cement

1411.92

2149.95

0.26

0.28

0.42

0.77

660.45

918.33

47%

43%

10

Dalmia Cement (Bharat) Ltd.

Cement

1118.48

1654.62

0.44

0.60

0.37

0.55

428.41

633.41

38%

38%

11

Mangalam Cement Ltd.

Ordinary portland cement

225.19

536.45

0.44

0.44

0.51

0.92

63.5

164.07

28%

31%

12

K C P Ltd.

Cement

252.26

344.87

0.35

0.42

0.76

1.14

83.95

112.87

33%

33%

13

Heidelberg Cement India Ltd.

Cement

397.87

578.91

0.52

0.53

1.13

1.62

54.76

113.8

14%

20%

14

India Cements Ltd.

Cement

2256.46

3088.83

0.35

0.35

0.27

0.26

737.22

1149.09

33%

37%

15

Century Textiles & Inds. Ltd.

Cement

3232.04

3545.61

0.45

0.46

0.81

0.70

573.03

657.24

18%

19%

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

50

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


large manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007

2008

2007

2008

2007

2008

2007

2008

2007

16.45

13.81

64.2

63.54

39.63

38.86

40.8

44.94

4.22

Composite Score

2008 3.43

89.6

40.11

47.14

131.97

122.78

50.57

49.86

25.82

25.31

12.35

12.14

89.7

55.91

41.78

135.02

109.29

79.6

49.71

43.92

31.25

54.34

29.59

104.4

36.61

34.95

63.86

53.3

24.07

15.13

1.54

1.51

4.45

6.41

15.9

7.75

9.36

36

43.32

8.76

10.47

0.76

0.76

1.94

1.62

16.7

15.14

12.53

48

39.8

13.32

12.42

0.95

1.03

8.88

7.14

20.1

41.65

38.85

66.38

51.9

26.41

25.02

3.03

2.69

4.94

5.15

25.0

NA

39.09

190.11

81.43

NA

19.86

NA

0.75

NA

11.18

27.8

23.27

25.11

69.55

68.41

19.46

18.21

1

2.06

17.72

16.82

29.5

85.08

80.59

46.57

45.93

5.87

1.65

12.61

11.4

31.1

41.23

71.52

66.01

67.45

62.5

21.3

19.99

1.82

3.17

31.3

0.31

0.96

27.81

42.05

23.22

27.25

1.12

0.83

4.38

13.07

31.6

25.17

24

70.57

54.21

22.33

21.05

2.32

2.38

12.34

13.34

31.9

210.22

146.39

49.5

46.53

31.91

31.49

5.3

4.65

15

21.45

33.8

55.62

66.61

111.28

107.27

33.19

30.61

2.46

3.12

6.35

5.57

35.0 37.2

108.89

93

98.77

92.28

36.15

39.94

3.19

3.58

9.24

12.19

130.91

169.04

125.72

139.99

62.01

65.1

55.36

68.63

9.02

4.75

37.7

163.48

151.11

487.06

615.35

140.68

125.93

88.62

143.82

0.9

0.79

38.3

8.57

10.79

78.74

102.43

18.96

18.53

5.45

5.33

12.46

14.16

39.2

37.92

31.67

122.3

79

75.56

57.03

14.63

5.7

7.59

18.68

40.9

49.25

49.06

87.72

85.87

34.64

23.17

0.96

2.71

18.84

23.42

41.2

7.02

10.14

48.95

49.55

23.3

28.61

2.45

3.15

14.21

17.99

41.7

23.19

19.64

89.2

74.31

51.78

48.48

8.74

10.61

9.03

9.09

42.4

117.56

161.08

180.37

140.92

92.76

109.77

39.52

43.05

15.1

16.69

43.3

119.1

92.22

99.06

97.15

34.16

35.91

4.34

6.23

20.42

21.45

44.7

20.51

17.96

69.71

81.77

24.72

28.77

7.8

6.51

22.14

24.54

48.5

16.37

30.93

69.55

124.15

91.84

60.44

1.13

1.83

60.45

28.63

52.7

37.38

42.21

91.98

108.07

55.06

64.42

14.63

14.89

19.54

19.16

54.9

64.16

59.26

1149.82

1378.13

170.99

299.13

129.68

152.42

30.62

39.01

55.3

15.68

12.39

43.74

55.77

65.01

77.08

2.83

2.61

2.39

2.97

18.9

6.96

6.5

67.53

46.01

144.88

106.46

6.51

9.56

0.39

0.71

20.4

53.55

15.69

195.66

57.31

107.18

134.72

5.85

2.61

5.02

2.24

22.6

11.39

6.72

50.88

55.98

94.94

89.91

6.75

8.7

3.43

2.85

22.7

18.81

20.3

61.63

65.39

78.92

72.01

5.37

4.71

6.73

6.81

25.0

13.52

11.5

70.74

64.85

99.99

147.16

10.39

6.17

2.47

2.61

28.5

7.28

38.23

52.38

102.64

147.62

7.24

11.59

2.5

3.25

29.1

12.62

61.81

71.03

105.59

128.41

15.8

9.98

3.68

3.02

29.9

5.06

5.67

80.74

64.6

165.02

135.96

25.49

13.96

4.06

3.09

30.2

23.91

20.66

181.13

131.96

96.3

77.36

6.13

5.77

41.52

57.27

31.7

8.45

2.55

67.58

40.23

267.34

81.24

34.78

16.95

6.6

3.56

32.7

25.67

36.5

109.81

82.93

170.3

96.17

80.77

61.03

2.36

4.03

33.9

15.29

8.87

63.02

55.62

140.56

95.14

11.42

15.25

7.15

4.27

34.7

35.07

29.45

77.77

134.86

182.63

187.58

10.76

12.31

2.87

3

35.0

19.01

17.05

48.9

62.71

107.28

105.15

12.87

11.19

14.92

14.62

35.5

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

cemeNT

3.96 13.41

AuTomoBILe

60.96

AnD COnsTruCTIOn EquIPMEnT

67.56 44.58

Source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

51


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

16

Company Name

Industrial Activity

Saurashtra Cement Ltd.

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDITA (Rs. Crore)

PBDITA/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

Ordinary portland cement

270.77

417.65

0.59

0.50

0.59

0.68

64.79

75.33

24%

18%

17

Birla Corporation Ltd.

Cement

1560.57

1729.9

0.36

0.39

1.03

1.05

521.22

614.46

33%

36%

18

Lafarge India Pvt. Ltd.

Cement

1172.62

1346.92

0.29

0.28

0.32

0.28

253.1

443.99

22%

33%

19

Ultratech Cement Ltd.

Cement

4927.26

5533.42

0.39

0.37

0.60

0.43

1472.57

1812.33

30%

33%

20

Prism Cement Ltd.

Cement

555.43

757.86

0.43

0.33

0.66

0.69

140.89

332.08

25%

44%

21

A C C Ltd.

Cement

5728.46

6909.77

0.34

0.35

0.56

0.60

1936.96

2360.71

34%

34%

22

Chettinad Cement Corpn. Ltd.

Cement

731.51

930.36

0.38

0.40

0.53

0.44

239.33

347.19

33%

37%

23

O C L India Ltd.

Cement

786.42

765.2

0.52

0.43

0.69

0.36

185

243.59

24%

32%

24

Cement Corpn. Of India Ltd.

Cement

428.48

311.53

0.30

0.41

0.95

0.96

218.3

90.12

51%

29%

chemicAls 1

National Fertilizers Ltd.

Urea

3876.03

4178.58

0.78

0.80

3.38

4.09

392.81

267.14

10%

6%

2

Nagarjuna Fertilizers & Chemicals Ltd.

Urea

1819.81

2196.35

0.72

0.77

0.59

0.82

287.77

272.74

16%

12%

3

Paradeep Phosphates Ltd.

Diammonium phosphate (DAP)(18-46-0)

2026.67

2443.52

0.75

0.72

5.68

6.82

190.01

186.3

9%

8%

4

Jindal Photo Ltd.

Photographic or cinematographic goods

363.6

361.28

0.76

0.77

7.95

8.79

37.54

59.68

10%

17%

5

I G Petrochemicals Ltd.

Phthalic Anhydride

585.35

589.75

0.84

0.84

1.83

1.99

62.93

59.85

11%

10%

6

Bodal Chemicals Ltd.

Sulphonated & nitrated derivatives of

257.57

415.08

0.87

0.88

4.87

3.54

19.66

38.98

8%

9%

7

Gujarat Alkalies & Chemicals Ltd.

Sodium hydroxide (Caustic Soda)

1078.31

1163.81

0.49

0.54

0.47

0.50

410.89

412.12

38%

35%

8

B A S F India Ltd.

Leather auxilliaries

772.44

916.27

0.70

0.70

5.20

5.34

90.48

107.88

12%

12%

9

Kansai Nerolac Paints Ltd.

Industrial paints

1308.68

1428.18

0.60

0.57

3.78

3.50

195.48

210.65

15%

15%

10

Jayant Agro-Organics Ltd.

Hydrogenated castor oil

453.44

606.86

0.92

0.96

13.58

19.16

17.36

22.35

4%

4%

11

I C I India Ltd.

Decorative paints

1189.08

1057.53

0.48

0.52

4.27

3.79

611.65

115.87

51%

11%

12

Zuari Industries Ltd.

NPK mixed fertilisers

2790.91

2660.4

0.77

0.82

11.98

12.83

530.57

190.09

19%

7% 8%

13

Deepak Nitrite Ltd.

Para nitrochlorobenzene

416.38

470.48

0.86

0.75

1.97

2.08

69.49

38.74

17%

14

Mangalore Chemicals & Fertilizers Ltd.

Urea

1373.31

1662.2

0.81

0.85

3.63

4.36

73.53

92.44

5%

6%

15

Hindustan Organic Chemicals Ltd.

Organic chemicals

509.53

580.58

0.78

0.75

1.48

1.67

66.26

59

13%

10%

16

Meghmani Organics Ltd.

Pesticides

476.06

601.72

0.74

0.70

2.39

3.05

70.45

70.75

15%

12%

17

Gujarat Narmada Valley Fertilizers Co. Ltd.

Urea

2751.86

3379.01

0.70

0.68

1.69

1.73

624.87

698.35

23%

21%

18

Manali Petrochemical Ltd.

Propylene glycol

316.57

329.46

0.82

0.79

5.25

3.92

36.8

18.77

12%

6%

19

Tata Chemicals Ltd.

Fertilisers

4120.8

4663.62

0.61

0.55

1.65

1.70

826.92

1326.36

20%

28%

20

Gujarat State Fertilizers & Chemicals Ltd.

Urea

3352.2

3600.21

0.75

0.71

1.87

2.00

604.87

545.48

18%

15%

21

Tamilnadu Petroproducts Ltd.

Linear alkyl benzene

827.22

784.22

0.77

0.76

1.33

1.32

45.61

39.22

6%

5%

22

I O L Chemicals & Pharmaceuticals Ltd.

Carboxylic acids

202.69

318.11

0.91

0.86

1.62

1.79

18.77

39.98

9%

13%

23

Kanoria Chemicals & Inds. Ltd.

Inorganic chemicals

434.21

437.17

0.69

0.59

0.63

0.44

84.19

101.72

19%

23%

24

Chambal Fertilisers & Chemicals Ltd.

Urea

2605.6

2791.35

0.72

0.57

0.85

0.68

488.55

545.49

19%

20%

25

Asian Paints Ltd.

Decorative paints

2955.16

3619.35

0.56

0.52

4.74

3.33

464.33

613.9

16%

17%

26

Excel Crop Care Ltd.

Pesticides

411.91

519.13

0.63

0.64

3.21

3.64

46.11

54.23

11%

10%

27

Khaitan Chemicals & Fertilizers Ltd.

Single superphosphate

373.02

399.31

0.92

0.75

3.94

3.30

27.84

31.02

7%

8%

28

Thirumalai Chemicals Ltd.

Phthalic Anhydride

536.51

586.37

0.80

0.74

4.04

3.58

59.14

68.07

11%

12%

29

Pidilite Industries Ltd.

Glues (adhesive)

1156.84

1542.55

0.57

0.55

1.96

1.54

190.75

292.27

16%

19%

30

Coromandel International Ltd.

Ammonium phosphate (16-20-0)

2099.42

3816.73

0.76

0.74

4.19

3.83

221

454.18

11%

12% 10%

31

Indian Farmers Fertiliser Co-Op. Ltd.

Mixed fertilisers

10496.75

12447.8

0.94

0.62

1.95

1.49

1022.36

1205.22

10%

32

Aarti Industries Ltd.

Para nitrochlorobenzene

704.8

887.33

0.76

0.79

1.82

2.23

90.46

118.72

13%

13%

33

Gujarat Fluorochemicals Ltd.

Refrigerant gases

236.85

384.15

0.84

0.70

0.29

0.31

377.59

511.99

159%

133%

34

Micro Inks Ltd.

Printing ink

727.49

1175.71

0.81

0.75

1.73

2.46

-5.49

141.4

-1%

12%

35

Clariant Chemicals (India) Ltd.

Dyes

692.9

869.7

0.74

0.71

3.09

3.61

68.18

72.95

10%

8%

36

Jubilant Organosys Ltd.

Organic chemicals

1714.26

2112.85

0.62

0.58

1.05

0.98

369.66

572.8

22%

27%

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

52

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


large manufacturing companies

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

34.71

26.46

192.65

196.48

141.53

132.22

9.87

7.65

6.33

2008 5.76

38.0

6.06

6.28

84.22

81.32

100.95

108.89

11.11

14.71

5.41

6.65

38.4

NA

14.55

105.02

141.75

NA

83.64

NA

26.32

NA

4.94

38.7

11.9

11.62

63.71

89.26

114.64

136.12

16.02

13.81

4.8

4.1

39.7

8.93

4.92

79.47

86.68

175.02

187.84

11.26

16

5.08

3.87

41.3

12.48

11.75

82.35

95.07

151.62

162.33

27.52

21.97

4.72

4.07

43.2

7.9

5.49

44.75

73.3

119.61

142.23

20.87

16.63

2.91

5.05

44.4

35.49

38.41

56.77

105.46

98.2

154.41

10.01

13.68

14.66

16.14

44.8

NA

25.24

344.06

331.69

NA

1256.79

NA

33.21

NA

9.89

50.7

96.46

87.93

57.26

60.25

43.71

43.76

1.48

1.18

6.41

6.67

54.6

63.28

51.17

29.38

49.79

17.95

17.91

0.75

0.95

8.46

17.63

55.9

120.7

97.23

93.35

103.87

52.19

37.99

1.91

2.59

19.28

11.38

58.5 60.0

6.02

27.73

23.84

25.25

29.81

1.54

1.35

18.38

23.18

23.27

33.72

53.2

25.33

27.06

1.43

1.94

4.71

6.33

61.5

73.98

71.05

66.79

73.44

23.01

21.99

0

6.01

7.7

7.98

62.6

52.29

53.02

47.27

56.25

65.39

69.59

1.98

1.71

5.61

6.28

64.7

66.41

57.15

57.9

58

47.57

43.86

1.85

1.77

24.47

21.5

64.7

41.48

46.06

40.91

42.82

30.56

26.68

7.95

6.19

26.23

25.64

66.6

265.93

19.41

19.85

13.58

32.84

34.17

0.6

0.51

20.26

25.35

68.7

36.18

34.8

83.19

90.39

29.85

26.57

1.48

1.17

28.65

31.15

70.1

93.37

73.52

66.62

73.92

40.86

47.05

1.43

2.36

15.31

16.66

70.9

68.95

74.77

59.39

45

19.96

23.93

12.08

18.21

24.33

20.41

73.2

6.74

6.02

52.96

55.39

45.64

57.59

0.14

0.15

10.38

4.48

73.4

46.3

49.48

65.88

55.98

37.98

36.05

7.17

6.54

18.37

9.78

74.1 74.5

135.3

131

39.74

52.71

22.76

28.09

19.09

22.78

38.46

24.62

64.09

51.06

64.48

41.4

72.17

68.77

4.24

4.12

12.51

13.08

74.7

35.9

33.84

30.81

31.35

36.18

38.68

2.67

3.19

24.46

23.88

76.7

58.66

58.97

66.46

98.47

61.75

68.41

0.08

1.17

22.78

22.44

77.1

90.55

68.65

48.3

47.3

49.99

54.73

5.1

5.38

23.75

22.64

77.6

25.31

22.61

73.93

70.29

54.64

41.58

5.58

1.57

9.3

9.56

78.4

24.93

25.75

66.83

57.4

27.73

17.73

20.44

18.28

6.12

8.32

79.3

34.92

40.76

36.71

54.88

47.28

56.87

3.95

5.07

15.55

14.84

79.7

60.23

46.51

20.51

27.13

38.27

57.17

3.71

2.75

27.62

26.85

79.7

23.12

22.09

72.8

81.53

31.17

34.6

4.53

4.8

26.57

26.88

80.6

78

73.25

62.75

65.31

29.71

33.86

11.83

10.86

34.21

31.46

80.7

12.75

10.32

22.75

35.25

41.2

38.39

0.26

0.38

35.71

38.51

80.9

70.41

83.31

99.35

44.78

46.42

50.6

4.59

5.96

41.85

31.58

81.5

34.09

38.15

41.31

46.88

43.31

47.22

3.47

4.45

29.42

27.91

81.8

23.85

12.95

105.88

87.35

51.39

59.19

2

1.15

34.16

19.37

84.1

14.84

11.67

35.89

37.31

50.83

60.76

1.36

1.47

34.37

23.08

84.4

81.61

68.72

49.8

37.55

42.58

43.46

36.83

31.96

19.24

21.06

84.6

76.47

122.52

306.72

221.23

102.67

87.91

0.46

1.79

18.23

19.03

84.9

127.14

89.52

139.81

68.22

67.78

53.01

22.98

20.38

17.78

14.09

85.0

68.6

53.1

95.08

68.99

49.26

34.89

14.03

8.48

33.89

26.57

86.0

53.6

53.7

55.93

47.17

77.96

70.81

12.88

13.52

14.33

14.03

87.1

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

chemIcALS

5.5 19.44

cemeNT

WORKING CAPITAL CyCLE

Source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

53


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDITA (Rs. Crore)

PBDITA/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

321.95

459.12

0.81

0.74

2.30

2.62

32.71

76.43

10%

17%

Ethylene glycol

901.85

1327.06

0.65

0.58

0.76

0.91

141.65

345.85

16%

26%

Pesticides

634.26

685.7

0.62

0.67

2.71

3.12

100.49

170.33

16%

25%

Southern Petrochemical Inds. Corpn. Ltd.

Diammonium phosphate (DAP)(18-46-0)

3308.85

1497.12

0.81

0.67

1.85

0.74

-6.13

-54.65

0%

-4%

37

Punjab Chemicals & Crop Protection Ltd.

Pesticides

38

India Glycols Ltd.

39

Rallis India Ltd.

40 41

Sree Rayalaseema Alkalies & Allied

Sodium hydroxide (Caustic Soda)

378.05

451.23

0.63

0.65

0.60

0.70

90.78

97.92

24%

22%

42

Berger Paints India Ltd.

Decorative paints

1164.86

1347.26

0.66

0.63

5.72

5.37

130.26

150.29

11%

11%

43

Shalimar Paints Ltd.

Decorative paints

257.72

301.66

0.67

0.61

7.70

6.96

16.14

23.84

6%

8%

44

Atul Ltd.

Dyes

919.21

1028.97

0.69

0.76

2.14

1.80

90.7

103.7

10%

10%

45

Sudarshan Chemical Inds. Ltd.

Pigments

385.66

397.69

0.76

0.75

3.77

3.73

26.74

33.8

7%

8%

46

Rashtriya Chemicals & Fertilizers Ltd.

Urea

3544.22

5198.5

0.93

0.80

2.91

3.56

369.08

397.71

10%

8%

47

Saurashtra Chemicals Ltd.

Sodium carbonate (Soda Ash)

151.41

312.37

0.73

0.67

0.44

0.78

-0.79

60.18

-1%

19%

48

Bilag Industries Pvt. Ltd.

Pesticides & pesticide intermediates, nec

535.34

788.48

0.57

0.70

1.59

3.11

167.99

234.29

31%

30%

49

United Phosphorus Ltd.

Pesticides

1510.25

1665.8

0.55

0.56

0.73

1.15

358.36

277.54

24%

17%

50

Nocil Ltd.

Rubber chemicals

316.78

379.9

0.78

0.77

1.40

1.68

46.1

27.29

15%

7%

51

Syngenta India Ltd.

Pesticides

850.34

1219.19

0.62

0.68

3.54

4.79

116.87

182.98

14%

15%

52

Nagarjuna Agrichem Ltd.

Monocrotophos

354.86

413.44

0.62

0.64

1.52

1.71

54.42

69.69

15%

17% 8%

53

S I Group-India Ltd.

Phenol

612.14

655.33

0.89

0.82

3.26

3.35

26.28

53.82

4%

54

M C C Pta India Corpn. Pvt. Ltd.

Purified Terephthalic acid (PTA)

1609.4

1774.49

1.00

0.83

1.42

0.71

61.14

46.09

4%

3%

55

G H C L Ltd.

Sodium carbonate (Soda Ash)

1092.08

1085.71

0.58

0.69

0.66

0.74

323.59

276.32

30%

25%

56

Godrej Industries Ltd.

Organic chemicals

759.5

818.48

0.70

0.59

1.86

1.79

141.03

175.18

19%

21%

57

Madras Fertilizers Ltd.

NPK mixed fertilisers

1210.54

1143.31

0.88

0.94

2.60

2.90

7.85

-14.69

1%

-1%

58

Sterling Biotech Ltd.

Gelatin

605.85

910.85

0.38

0.45

0.15

0.21

284.82

406.71

47%

45%

59

E I Dupont India Pvt. Ltd.

Pesticides

991.22

1071.53

0.75

0.73

9.59

6.34

57.89

95.54

6%

9%

60

Ciba India Ltd.

Synthetic colouring substances

515.26

474.13

0.86

0.87

11.22

9.77

102.15

39.28

20%

8%

61

Bayer Cropscience Ltd.

Pesticides

744.61

1184.92

0.65

0.75

3.10

3.60

118.09

101.39

16%

9%

62

Hikal Ltd.

Organic chemicals

238.42

316.37

0.63

0.62

0.71

0.63

66.12

97.71

28%

31%

63

Monsanto India Ltd.

Pesticides

323.05

381.42

0.23

0.32

0.65

1.08

87.47

139.08

27%

36%

cosmetics And cleAning 1

Procter & Gamble Hygiene & Health

t & toilet preparations

575.14

541.64

0.27

0.26

1.62

1.11

201.37

143.77

35%

27%

2

Emami Ltd.

Cosmetics & toilet preparations

499.82

571.91

0.38

0.38

2.32

2.37

82.91

117.65

17%

21%

3

Colgate-Palmolive (India) Ltd.

Preparations for oral or dental hygiene

1338.98

1527.93

0.44

0.41

3.10

3.17

217.85

313.34

16%

21%

4

Rohit Surfactants Pvt. Ltd.

Synthetic detergents

921.26

1092.52

0.85

0.82

4.48

3.19

48.73

76.67

5%

7%

5

Sharp Menthol India Ltd.

Essential oils

390.3

677.4

0.92

0.91

56.65

27.09

18.14

38.21

5%

6%

6

Dabur India Ltd.

Cosmetics & toilet preparations

1609.26

2101.84

0.43

0.43

2.90

3.09

310.63

397.2

19%

19% 18%

7

Jyothy Laboratories Ltd.

Other washing preparations

343.2

365.38

0.53

0.66

1.99

1.47

54.2

64.83

16%

8

Galaxy Surfactants Ltd.

Organic surface-active agents other

322.88

386.51

0.74

0.72

2.13

2.22

50.56

54

16%

14%

9

Reckitt Benckiser (India) Ltd.

Soap, washing preparations, etc.

1100.67

1324.71

0.46

0.51

6.53

5.78

204.66

299.56

19%

23%

10

Henkel India Ltd.

Soap

318.19

393.5

0.75

0.64

0.84

0.90

26.84

41.61

8%

11%

11

Nirma Ltd.

Synthetic detergents

2150.96

2200.14

0.68

0.66

0.68

0.67

511.41

474.26

24%

22%

12

Hindustan Unilever Ltd.

Cosmetics, toilet preparations, soap &

12435.57

14037.3

0.52

0.52

4.24

4.23

2318.06

2494.21

19%

18%

13

Godrej Consumer Products Ltd.

Soap

753.76

892.06

0.51

0.49

2.06

1.94

169.21

195.88

22%

22%

0.66

0.73

0.86

243.47

305.17

26%

24%

diversified mAnufActuring 1

Prakash Industries Ltd.

Diversified

932.15

1254.82

0.66

2

Balmer Lawrie & Co. Ltd.

Diversified

1284.33

1457.29

0.30

0.31

2.34

2.69

120.48

145.2

9%

10%

3

Sintex Industries Ltd.

Diversified

1138.22

1694.41

0.71

0.67

1.19

1.10

249.73

413.62

22%

24%

4

D C M Shriram Consolidated Ltd.

Diversified

2698.68

2488.24

0.81

0.92

1.25

1.17

260.45

994.87

10%

40%

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

54

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


large manufacturing companies

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007

2008

2007

2008

2007

2008

2007

2008

2007

79.84

101.38

76.3

133.41

45.18

43.77

12.01

12.49

28.72

Composite Score

2008 22.53

88.0

27.09

19.82

93.39

42.49

108.77

105.24

11.83

10.66

17

8.42

88.3

79.46

75.31

125.49

74.59

54.04

55.62

6.68

5.05

47.36

39.42

88.8

19.57

41.32

106.27

182.16

19.51

55.06

0.85

3.75

2.1

2.65

89.0

35.62

36.46

97.57

108.41

71.51

61.51

4.01

3.34

5.5

12.08

89.5

34.8

36.05

58.31

53.78

43.44

44.71

6.02

6.15

37.26

37.28

90.1

71.42

75.98

93.19

101.44

40.9

40.19

8.78

8.15

40.8

39.51

90.1

91.25

91.93

80.18

78.14

49.49

40.76

32.06

27.99

26.03

22.21

92.1

75.8

74.43

49.38

58.53

51

43.47

12.45

12.29

30.76

32.22

93.3

85.86

72.79

41.89

42.26

81.9

72.87

2.02

2.7

28.28

35.3

96.1 96.5

71.74

44.03

114.72

72.74

297.91

172.75

7.93

6.38

13.31

9.36

46.56

44.11

104.43

70.1

59.89

47.72

29.75

27.62

39.25

23.86

96.6

100.1

102.69

185.41

169.46

44.52

50.67

10.36

12.48

28.17

28.09

96.6

79.48

69.26

70.42

58.92

43.52

41.87

13.52

12.5

36.65

30.87

101.4

111.06

72.92

96.94

96.4

81.12

68.68

12.59

10.77

45.47

31.08

101.8

62.51

51.91

85.4

77.7

56.53

58.41

8.88

10.73

45.38

26.85

102.0

56.81

60.4

62.6

63.93

66.13

62.67

13.85

12.8

15.88

19.1

102.2

37.54

30.3

173.84

122.53

55.56

55.62

2.97

3.19

13.51

12.36

104.0

29.94

39.01

71.22

66.39

138.86

116.07

7.71

6.3

10.94

24.06

107.0

39.59

56.17

88.95

123.4

60.22

88.44

26.28

32.66

16.76

16.25

108.9

1.85

1.99

106.77

113.34

59.12

54.15

21.31

15.29

2.02

2.88

109.5

81.8

67.58

38.34

21.19

113.71

76.2

151.18

112.82

62.93

45.73

109.6 115.5

54.94

64.89

68.42

88.29

122.48

81.56

9.63

7.62

56.68

51.44

70.38

57.18

55.28

80.57

60.58

59.47

21.02

16.06

45.28

42.36

121.1

98.52

64.26

88.09

105.95

71.22

76.96

21.72

25.84

46.02

27.41

122.6

67.43

60.81

100.29

95.15

121.95

136.31

71.92

75.37

76.85

53.67

131.4

28.65

22.52

122.59

122.13

172.89

130.99

82.16

86.48

54.2

34.2

132.4

7.47

54.54

67.39

43.71

36.68

3.95

1.27

12.19

10.7

12.0

24.83

34.83

37.83

41.14

42.23

1.66

1.82

17.77

16.89

14.4

2.03

2.12

90.06

93.99

26.19

19.87

2.32

1.94

16.47

15.95

15.4

NA

12.13

22.56

34.04

NA

37.7

NA

2.35

NA

9.3

15.4

91.65

77.39

68.5

48.12

0.69

8.51

81.85

82.37

26.21

13.51

16.0

10.14

14.47

73.74

66.33

36.55

37.82

8.51

12

15.61

14.71

17.5

32.88

32.54

26.24

38.03

71.65

66.18

3.54

2.06

11.03

19.24

19.5

46.4

51.24

54.39

55.13

36.2

32.07

23.78

19.66

15.34

17.37

20.0

5.63

5.05

63.58

73.05

31.35

28.42

7.67

4.24

26.4

26.22

20.3

90.72

146.48

91.71

74.45

42.39

41.59

4.32

2.75

24.32

19.9

22.0

32.73

31.1

34.35

30.81

89.9

128.33

8.11

9.46

13.3

19.71

22.3

14.91

12.22

99.38

105.71

59.75

66.36

1.87

2.16

18.45

20.17

23.0

3.85

4.47

98.87

109.55

33.68

48.14

13.73

15.97

27.7

31.52

27.9

30.23

26.67

18.86

19.17

42.72

33.66

0.81

0.86

9.4

7.49

15.9

51.96

54.89

74.67

78.47

60.71

49.33

2.4

2.33

5.75

6.05

19.1

54.88

70.42

89.36

77.62

16.14

13.99

16.56

18.16

15.16

12.14

21.9

59.28

51.46

108.33

53.4

31.74

35.3

2.67

2.51

50.79

72.18

22.5

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

coSmeTIcS & ClEAnIng

15.51 28.93

chemIcALS

WORKING CAPITAL CyCLE

Source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

55


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

5

Company Name

Industrial Activity

Surya Roshni Ltd.

Diversified

6

Texmaco Ltd.

Diversified

7

Johnson & Johnson Ltd.

Diversified

8

Orient Paper & Inds. Ltd.

Diversified

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDITA (Rs. Crore)

PBDITA/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

1097.11

1270.19

0.81

0.83

2.82

3.36

80.68

91.15

7%

7%

433.4

838.43

0.80

0.24

2.92

0.91

51.64

117.99

12%

14%

1513.88

1703.51

0.52

0.50

4.30

4.00

240.49

214.69

16%

13%

1091.36

1292.58

0.45

0.42

1.39

1.02

282.14

364.05

26%

28%

9

Apar Industries Ltd.

Diversified

1448.44

1688.98

0.85

0.85

7.70

13.01

113.52

163.98

8%

10%

10

Aditya Birla Nuvo Ltd.

Diversified

3466.27

3942.01

0.67

0.69

1.78

1.80

652.49

689.13

19%

17%

11

Gillanders Arbuthnot & Co. Ltd.

Diversified

262.3

395.72

0.67

0.71

1.91

1.30

22.69

43.09

9%

11%

12

Kesoram Industries Ltd.

Diversified

2227.3

3001.66

0.48

0.43

0.98

0.74

449.52

704.6

20%

23%

13

Bhilai Engineering Corpn. Ltd.

Diversified

324.83

311.95

0.39

0.40

2.35

2.17

32.4

41.47

10%

13%

14

Kores (India) Ltd.

Diversified

746.32

747.87

0.87

0.81

7.47

5.26

36.76

42.21

5%

6%

15

Hindusthan Engineering & Inds. Ltd.

Diversified

288.43

325.34

0.68

0.64

1.49

1.67

13.46

10.12

5%

3%

16

D C M Shriram Inds. Ltd.

Diversified

621.36

595.77

0.80

0.93

2.04

2.07

34.88

36.88

6%

6%

17

Godrej & Boyce Mfg. Co. Ltd.

Diversified

2792.96

3543.28

0.80

0.80

4.77

5.46

261.76

351.43

9%

10%

18

Voltas Ltd.

Diversified

2521.94

3077.3

1.16

0.49

22.50

9.53

248.17

327.06

10%

11%

19

Andhra Sugars Ltd.

Diversified

584.24

488.86

0.55

0.75

0.73

0.79

148.14

114.4

25%

23%

20

Nahar Industrial Enterprises Ltd.

Diversified

908.78

883.11

0.75

0.84

1.01

1.07

193.38

144.76

21%

16%

drugs And phArmAceuticAls 1

Plethico Pharmaceuticals Ltd.

Drug formulations

327.93

553.85

0.62

0.60

1.74

2.92

99.53

179.27

30%

32%

2

Paras Pharmaceuticals Ltd.

Drug formulations

300.42

335.69

0.39

0.37

1.19

1.32

63.81

74.97

21%

22% 30%

3

Merck Ltd.

Drug formulations

354.71

349.71

0.39

0.38

3.41

3.28

173.39

106.14

49%

4

Ankur Drugs & Pharma Ltd.

Drug formulations

373.55

674.91

0.72

0.70

0.75

0.88

57.91

107.78

16%

16%

5

Shasun Chemicals & Drugs Ltd.

Drugs, medicines & allied products

407.88

463.94

0.66

0.78

1.42

1.69

70.87

57.84

17%

12%

6

Astrazeneca Pharma India Ltd.

Drug formulations

274.2

311.05

0.50

0.34

4.09

3.19

80.68

101.19

29%

33%

7

D S M Anti Infectives India Ltd.

Drugs, medicines & allied products

669.1

1001.55

1.08

0.78

7.42

8.72

17.24

50.05

3%

5%

8

J B Chemicals & Pharmaceuticals Ltd.

Drug formulations

532.46

561.82

0.41

0.36

0.98

0.86

102.35

91.95

19%

16%

9

Pfizer Ltd.

Drug formulations

703.56

734.12

0.41

0.36

4.08

3.70

175.15

459.72

25%

63%

10

Wyeth Ltd.

Drug formulations

299.12

344.88

0.38

0.33

2.60

2.75

117.6

124.62

39%

36%

11

Abbott India Ltd.

Drug formulations

519.45

604.72

0.76

0.82

12.51

13.71

91.87

107.54

18%

18%

12

Hetero Drugs Ltd.

Drugs, medicines & allied products

790.4

831.05

0.69

0.74

2.31

1.79

126.53

131.02

16%

16%

13

Piramal Healthcare Ltd.

Drug formulations

1628.73

1957.49

0.53

0.53

0.95

1.21

343.69

489.56

21%

25%

14

Unimark Remedies Ltd.

Drug formulations

418.52

512.03

0.77

0.77

1.86

1.71

63.12

70.69

15%

14%

15

Claris Lifesciences Ltd.

Drug formulations

381.24

564.4

0.38

0.35

0.50

0.49

102.25

153.03

27%

27%

16

Unichem Laboratories Ltd.

Drug formulations

547.14

579.22

0.51

0.51

1.06

0.90

121.26

112.41

22%

19%

17

Alembic Ltd.

Drug formulations

702.89

1000.32

0.47

0.60

0.93

1.54

123.16

183.02

18%

18%

18

Nectar Lifesciences Ltd.

Drugs, medicines & allied products

447.95

748.62

0.98

0.76

1.46

1.37

100.15

149.65

22%

20%

19

Biocon Ltd.

Bio-tech base drugs

866.82

897.79

0.62

0.58

0.72

0.70

241.15

515.15

28%

57%

20

U S V Ltd.

Drug formulations

653.55

712.38

0.41

0.47

1.17

1.23

194.79

214.14

30%

30% 45%

21

Glaxosmithkline Pharmaceuticals Ltd.

Drug formulations

1612.22

1680.66

0.46

0.40

7.63

6.97

756.23

764.39

47%

22

Surya Pharmaceutical Ltd.

Antibiotics

284.63

488.85

0.92

0.91

1.84

2.32

52.37

89.72

18%

18%

23

Strides Arcolab Ltd.

Drug formulations

460.46

454.02

0.59

0.63

1.36

1.33

78.38

-60.28

17%

-13%

24

Elder Pharmaceuticals Ltd.

Drug formulations

448.44

550.96

0.55

0.53

0.88

0.89

81.92

113.97

18%

21%

25

Aurobindo Pharma Ltd.

Drug formulations

1971.03

2363

0.72

0.66

1.58

1.63

385.67

472.17

20%

20%

26

Aarti Drugs Ltd.

Anti dysentery medicaments

282.89

311.52

0.75

0.81

1.29

1.46

35.62

40.42

13%

13% 26%

27

Novartis India Ltd.

Drug formulations

586

600.21

0.53

0.47

31.80

30.49

141.66

155.36

24%

28

Dr. Reddy'S Laboratories Ltd.

Drug formulations

4188.59

3676.3

0.34

0.45

1.50

1.34

1499.59

755.1

36%

21%

29

Aventis Pharma Ltd.

Drug formulations

923.06

926.8

0.60

0.60

3.78

3.87

267.73

240.37

29%

26%

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

56

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


large manufacturing companies

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007

2008

2007

2008

2007

2008

2007

2008

2007

34.38

33.39

9.76

8.15

27.54

24.45

6.96

6.59

23.72

Composite Score

2008 22.89

24.0

77.75

50.34

205.98

141.11

50.41

41

15.82

11.22

2.41

1.76

24.6

14.89

13.77

110.63

83.77

53.26

42.71

3.78

3.27

20.98

22.07

25.0

33.96

31.74

66.49

55.23

66.61

65.51

8.86

9.45

4.68

4.66

25.4

72.38

75.95

131.37

209.89

51.17

47.76

6.22

6.28

10.57

9.88

25.9

55.66

50.95

43.89

52.76

61.5

62.05

5.6

6.13

18.71

22.1

26.0

29.07

27.5

58.51

69.07

53.27

49.28

4.91

5.02

16.35

16.94

27.7 28.3

31.18

27.35

50.83

54.01

70.38

65.15

6.68

8.27

11.22

11.01

79.04

88.47

106.46

110.13

47.88

59.38

32.35

40.04

24.31

19.99

29.8

49.22

57.14

89.94

96.47

35.32

37.8

20.42

26.17

27.77

28.61

32.4

87.78

78.49

50.89

60.51

73.86

84.97

13.84

9.55

37.67

22.92

33.1

17.26

16.76

45.53

59.11

42.46

45.71

4.83

4.83

72.89

92.7

34.2

54.26

60.07

116.56

116.12

44.44

44.28

28.85

35.74

29.25

31.39

34.3

65.62

61.19

101.86

152.11

13.27

108.48

45.75

58.56

20.78

24.33

37.9

20.29

23.43

75.62

104.37

61.83

80

3.47

3.65

104.93

123.7

38.5

34.96

41.35

24.75

59.69

124.82

130.86

12.64

12.96

55.04

78.67

40.5

190.46

160.65

26.85

18.16

12.31

9.7

1.82

0.95

7.74

5.19

15.0

21.09

28.82

67.64

48.73

45.88

56.23

0.45

0.91

15.79

20.58

43.8 43.9

43.15

31.34

37.36

37.17

52.46

49.09

5.9

11.89

29.74

27.41

51.01

65.02

29.68

24.59

45.59

55.04

4.54

4.7

1.56

1.92

45.7

90.24

97.45

83.55

62.72

45.55

35.22

9.67

6.28

15.33

14.36

46.2 46.6

47.87

51.73

86.87

45.56

58.78

51.12

19.49

18.71

30.03

27.63

89.65

64.42

81

44.56

30.91

20.78

6.98

6.45

29.57

25.07

47.9

190.21

204.44

58.96

41.29

54.08

64.14

12.05

8.18

30.13

28.28

48.0 55.8

82.36

57.33

82.67

76.56

5.48

6.55

33.24

31.3

51.18

58.83

88.99

69.5

3.13

3.99

54.17

41.89

60.1

15.27

15.89

27.28

24.59

37.52

26.29

4.56

2.9

35.19

42.73

60.3

NA

101.83

81.08

70.05

NA

60.52

NA

20.36

NA

16.33

60.5

50.66

56.28

57.62

63.18

76.26

64.79

25.75

20.92

22.4

19.92

62.4

71.91

78.2

69.3

79.18

44.11

43.09

48.09

47.51

4.43

3.55

62.6 62.9

75.23

128.93

182.51

172.14

49.6

69.63

10.46

10.8

37.33

28.6

72.98

78.79

72.89

63.82

67.59

74.75

18.24

16.53

21.12

22.49

64.1

84.15

77.68

63.24

60.99

71.65

80.01

6.05

7.31

47.51

31.23

66.3

79.16

64.78

74.09

63.85

35.55

25.37

99.61

92.81

12.33

10.96

66.5

99.76

102.34

91.69

85.54

50.02

70.35

44.99

57.26

4.21

5.1

67.1

37.65

41.72

55.05

53.21

62.29

62.63

16.71

16.77

34.17

36.98

67.1

16.65

12.96

72.29

71.99

52.5

53.51

25.57

23.32

40.41

35.98

67.7

74.45

55.87

52.09

72.05

40.86

45.46

126.63

123.22

0.01

0.03

68.2

116.15

129.12

130.15

211.55

90.02

92.73

10.9

11.11

3.55

4.29

69.2 69.3

90.93

84.53

74.07

58.06

62.1

49.12

40.32

18.36

65.62

50.59

114.28

112.55

63.49

69.16

72.96

82.69

47.16

49.46

6.64

6.46

69.4

83.85

93.44

56.25

76.66

54.5

47.97

34.94

29.82

17.25

20.68

69.5

28.75

28.06

50.05

55.04

60.76

93.35

2.76

2.1

41.67

42.21

70.4

72.84

100.75

83.19

81.11

81.13

88.13

39.91

48.33

9.26

10.27

72.0

23.24

24.35

52.79

51.39

64.71

63.96

18.24

18.77

37.43

42.95

73.2

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

DrugS &

37.36 23.29

PhArMACEuTICAls

42.94 25.02

DIverSIfIeD

Debtors Days Available (Days)

mANufAcTurINg

WORKING CAPITAL CyCLE

Source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

57


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

30

F D C Ltd.

Drug formulations

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDITA (Rs. Crore)

PBDITA/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

432.28

502.51

0.60

0.51

1.32

1.17

91.71

89.2

21%

18%

31

Sun Pharmaceutical Inds. Ltd.

Drug formulations

2310.11

3211.51

0.57

0.51

2.12

2.48

695.61

1112.02

30%

35%

32

Lupin Ltd.

Drug formulations

2003.03

2585.76

0.58

0.62

1.45

1.71

476.13

648.14

24%

25%

33

Glenmark Pharmaceuticals Ltd.

Drug formulations

799.59

1355.12

0.50

0.41

0.92

0.95

251.76

539

31%

40%

34

Macleods Pharmaceuticals Ltd.

Drug formulations

403.17

521.85

0.70

0.62

1.83

1.69

69.26

74.53

17%

14%

35

Ipca Laboratories Ltd.

Drug formulations

936.38

1111.01

0.54

0.53

1.17

1.09

198.56

231.64

21%

21%

36

Dishman Pharmaceuticals & Chemicals Ltd.

Drug formulations

289.72

361.65

0.66

0.69

0.76

0.68

86.87

101.81

30%

28%

37

Intas Pharmaceuticals Ltd.

Drug formulations

772.92

990.58

0.63

0.62

2.77

2.90

99.44

131.9

13%

13%

38

Panacea Biotec Ltd.

Drug formulations

865.08

862.83

0.51

0.53

1.07

0.86

260.09

245.27

30%

28%

39

Divi'S Laboratories Ltd.

Drugs, medicines & allied products

733.68

1038.31

0.54

0.55

0.94

1.02

257.8

446.25

35%

43%

40

Arch Pharmalabs Ltd.

Drugs, medicines & allied products

362.99

514.65

0.80

0.83

1.51

1.57

77.1

98.39

21%

19%

41

Matrix Laboratories Ltd.

Drugs, medicines & allied products

771.41

967.97

0.58

0.65

0.97

1.06

151.48

-207.17

20%

-21%

42

Ind-Swift Ltd.

Drug formulations

377.52

513.73

1.08

0.88

2.22

1.90

54.3

80.99

14%

16%

43

Wockhardt Ltd.

Drug formulations

1184.15

1292.01

0.50

0.60

0.85

0.86

318

344.5

27%

27%

44

Cipla Ltd.

Drug formulations

3619.31

4284.26

0.43

0.46

1.07

1.04

918.3

965.96

25%

23%

45

Cadila Healthcare Ltd.

Drug formulations

1514.4

1755.5

0.49

0.43

0.93

0.86

324.77

389.6

21%

22%

46

Torrent Pharmaceuticals Ltd.

Drug formulations

894.74

1002.38

0.51

0.40

1.03

0.75

181.23

228.11

20%

23%

47

Emcure Pharmaceuticals Ltd.

Drug formulations

437.06

462.75

0.56

0.54

0.97

0.67

99.63

79.83

23%

17%

48

Cadila Pharmaceuticals Ltd.

Drug formulations

532.01

541.43

0.57

0.48

1.05

0.79

84.52

87.48

16%

16%

49

Ranbaxy Laboratories Ltd.

Drug formulations

3545.59

4108.51

0.41

0.39

0.85

0.89

655.9

1063.27

18%

26%

50

Ind-Swift Laboratories Ltd.

Drugs, medicines & allied products

346.32

454.84

0.74

0.76

0.67

0.74

67.23

89.45

19%

20%

51

Orchid Chemicals & Pharmaceuticals Ltd.

Drug formulations

935.24

1309.32

0.61

0.45

0.37

0.29

317.61

457.52

34%

35%

electricAl mAchinery 1

Unitech Machines Ltd.

Electric signalling apparatus

316.9

353.5

0.29

0.28

1.39

1.08

46.5

50.53

15%

14%

2

Esab India Ltd.

Welding electrodes / sticks / wires /

292.04

346.11

0.64

0.68

3.36

3.50

69.95

86.54

24%

25%

3

Lloyd Electric & Engineering Ltd.

Accessories of air conditioners &

496.19

669.71

0.86

0.85

2.88

2.93

65.2

81.31

13%

12%

4

H B L Power Systems Ltd.

Nickel-cadmium accumulators

511.18

969.89

0.71

0.80

1.63

2.70

73.3

149.55

14%

15%

5

Amara Raja Batteries Ltd.

Storage batteries

602.04

1102.72

0.73

0.79

2.71

3.28

90.87

184.47

15%

17%

6

Usha International Ltd.

Fans

122.89

709.93

0.72

0.72

13.24

13.12

5.14

29.76

4%

4%

7

Fedders Lloyd Corpn. Ltd.

Air conditioning machines / systems

278.29

348.21

0.95

0.98

8.25

6.01

18.32

29.22

7%

8%

8

Blue Star Ltd.

Air conditioning machines / systems

1599.28

2261.47

0.84

0.81

11.51

11.81

123.05

269.73

8%

12%

9

Whirlpool Of India Ltd.

Refrigerators, freezers, etc.

1495.06

1805.14

0.69

0.71

3.36

3.92

44.07

80.4

3%

4%

10

Exide Industries Ltd.

Storage batteries

1888.18

2883.68

0.77

0.77

2.93

3.67

310.16

486.11

16%

17%

11

Carrier Airconditioning & Refrigera-

Window/split airconditioners

588.87

760.84

0.66

0.64

11.13

10.45

43.27

65.93

7%

9%

12

I F B Industries Ltd.

Washing machines

327.07

426.27

0.56

0.60

2.12

3.59

49.12

46.92

15%

11%

13

Value Industries Ltd.

Domestic appliances

1122.66

1302.94

0.86

0.84

1.81

1.39

117

177.91

10%

14%

14

Ajanta Manufacturing Ltd.

Storage batteries

319.08

474.88

0.74

0.78

0.99

1.56

55.2

106.4

17%

22%

15

T T K Prestige Ltd.

Cookers

280.71

326.74

0.67

0.61

5.24

3.52

25.68

35.98

9%

11%

16

Inductotherm (India) Pvt. Ltd.

Industrial furnaces & ovens

261.18

308.57

0.58

0.56

5.54

6.45

93.05

106.68

36%

35%

17

Bajaj Electricals Ltd.

Electric appliances

1088

1384.63

0.79

0.81

9.38

10.27

92.86

152.62

9%

11%

18

Hitachi Home & Life Solutions (India) Ltd.

Window/split airconditioners

325.53

449.46

0.76

0.72

8.08

7.87

28.13

58.27

9%

13%

19

Khaitan Electricals Ltd.

Fans

289.53

329.25

0.77

0.84

11.51

12.62

22.82

30.75

8%

9%

20

Eveready Industries (India) Ltd.

Dry cells

768.48

844.34

0.66

0.79

0.56

0.73

47.07

75.46

6%

9%

electronics 1

X L Telecom & Energy Ltd.

Cordless phone

399.07

525.19

0.91

0.89

17.26

17.41

21.52

33.53

5%

6%

2

P C S Technology Ltd.

Computer systems

419.07

325.53

0.86

0.82

14.06

10.77

17.94

16.84

4%

5%

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

58

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


large manufacturing companies

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

17.68

14.78

51.23

56.48

34.14

41.42

14.57

15.88

52.74

2008 50.94

73.8

88.09

122.99

96.78

117.58

92.36

97.31

58.87

58.54

14.78

13.43

75.0

73.93

76.54

72.54

64.44

76.41

73

24.85

32.49

24.36

31.24

76.5

156.88

134.59

75.79

92.75

120.43

96.87

56.78

51.21

25.49

23.66

77.3 77.8

31.53

40.23

66.75

67.82

74.53

69.02

7.22

7.53

30.98

36.1

59.83

72.62

51.69

50.85

93.9

90.99

22.55

25.07

34.46

33.74

80.1

129.01

106.9

142.41

74.42

89.73

80.07

157.22

154.81

12.47

15.42

80.3 80.3

46.24

49.7

57.72

51.23

107.57

82.84

25.28

15.24

40.01

37.42

37.1

52.75

84.96

63.47

111.07

140.02

3.1

4.56

41.5

36.78

81.6

67.03

66.09

96.65

89.68

84.29

81.63

87.15

64.31

15.09

24.1

83.5

100.69

102.04

67.95

65.04

113.55

107.95

27.5

24.01

26.55

29.44

83.5

99.03

83.65

138.85

105.07

83.58

70.86

82.44

89.51

6.56

5.42

84.1

108.36

98.14

80.77

89.78

62.86

58.96

15.29

21.17

61.31

79.23

85.2 85.4

87.04

108.73

95.16

90.69

89.17

85.64

24.42

29.6

29.43

32.56

95.37

103.41

64.71

90.19

136.21

127.07

28.65

25.63

39.79

32.54

86.1

50.9

54.79

100.72

67.06

79.2

92.23

40.6

42.44

31.31

30.88

87.5

57.23

67.33

67.44

88.05

92.46

82.96

30.84

30.8

33.91

33.3

89.1

58.69

78.47

62.55

80.29

66.02

104.9

13.07

20.55

23.35

30.87

89.5

NA

70.46

126.87

107.11

NA

65.55

NA

29.54

NA

37.86

92.2

93.68

96.57

85.3

90.02

158.95

146.63

48.95

50.89

37.62

34.76

95.5

77.58

73.64

77.96

94.32

103.15

95.3

151.8

157.15

6.2

7.14

96.4

141.71

134.17

97.86

118.04

116.28

127.3

253.83

218.04

30.08

32.9

97.8

59.34

81.28

69.89

80.44

19.51

32.76

2.9

5.58

4.69

3.34

17.1

9.34

10.17

66.12

55.99

27.07

30.25

3.97

4.28

17.28

15.18

21.1

67.87

73.55

34.18

34.04

47.88

53.25

0.97

1.23

9.82

9.65

21.5

96.92

72.11

66.19

50.45

51.08

35.3

23.45

24.89

1.87

2.54

22.8

57.75

50.55

39.52

30.02

33.93

31.31

21.61

21.39

6.44

8.1

23.1

28.28

27.02

103.85

73.76

14.15

14.68

17.63

11.68

31.16

20.96

24.8

54.37

59.12

17.34

23.53

22.48

19.84

18.12

19.78

16.44

20.68

24.9

68.02

69.11

104.63

115.22

24.58

26.15

30.38

26.21

8.82

11.64

27.0

85.74

94.02

18.55

24.64

1.56

2.37

40.19

44.55

27.2

53.64

52.08

43.25

40.49

17.51

17.75

18.73

17.78

27.5

36.59

55.71

103.13

95.41

39.97

56.17

1.22

2.38

16.4

26.94

27.6

23.98

20.62

87.16

90.25

37.6

39.97

11.52

11.49

16.43

20.03

28.6

82.74

80.56

36.92

48.4

71.26

74.72

29.94

27.4

3.38

2.89

30.3

7.14

30.68

17.79

32.53

100.43

87.76

9.11

8.31

22.24

24.63

30.8 30.9

42.95

47.61

70.35

70.92

46.29

41.54

12.16

8.62

50.83

48.44

40.84

52.19

108.82

112.6

71.41

76.43

45.8

39.36

5.83

5.37

31.9

105.4

103.06

106.12

102.15

53.13

62.98

12.09

15.59

27.45

28.34

32.8

56.13

55.18

123.79

141.87

56.3

67.85

8.93

9.06

53.63

36.73

34.8

124.12

168.78

122.34

137

44.43

60.54

35.83

33.96

52.8

69.16

40.0

19.58

17.54

63.97

99.78

52.32

49.98

31.07

26.83

35.65

31.96

42.3

61.9

93.22

21.59

36.36

22.89

25.09

3.24

2.96

0.48

1.41

16.6

113.53

145.03

60.39

97.23

24.54

21.6

1.43

1.81

4.79

3.45

21.8

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

eLecTrIcAL

25.61 20.62

MAChInEry

27.12 23.24

DrugS &

Debtors Days Available (Days)

PhArMACEuTICAls

WORKING CAPITAL CyCLE

Source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

59


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

3

Company Name

Industrial Activity

Opto Circuits (India) Ltd.

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDITA (Rs. Crore)

PBDITA/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

Medical equipment

203.95

340.09

0.57

0.60

3.28

5.19

78.72

140.45

39%

41%

4

yokogawa India Ltd.

Process control equipment

316.67

368.7

0.69

0.76

4.58

6.61

34.86

34.69

11%

9%

5

Electronics Corporation Of India Ltd.

VHF radio systems

921.14

960.01

0.66

0.66

7.94

8.09

209.65

233.68

23%

24%

6

Honeywell Automation India Ltd.

Process control equipment

643.85

866.88

0.72

0.74

8.78

10.56

87.75

103.91

14%

12%

7

C M S Computers Ltd.

Computer peripherals

512.26

504.08

0.68

0.57

3.88

2.52

45.55

36.13

9%

7%

8

H C L Infosystems Ltd.

Mini/micro computers

2309.97

11673.7

0.88

0.97

25.61

94.25

153.13

463.99

7%

4%

9

Tata B P Solar (India) Ltd.

Solar appliances

668.59

923.27

0.83

0.84

3.90

1.87

62.68

71.56

9%

8%

10

Solectron E M S India Ltd.

Other electronic components

109.32

317.8

0.85

0.91

2.58

9.36

9.51

23.6

9%

7%

11

L G Electronics India Pvt. Ltd.

Television receivers, colour

8178.57

8813.67

0.72

0.73

13.79

15.22

364.59

473.24

4%

5%

12

Videocon Industries Ltd.

Television receivers

6456.58

7669.57

0.70

0.67

0.91

0.96

1516.27

1957.08

23%

26%

13

Bharti Teletech Ltd.

Electronic telephones

2451.43

1552.47

1.24

0.41

72.00

37.19

52.03

38.3

2%

2%

14

Luminous Power Technologies Pvt. Ltd.

Batteries incl. Ni-Cd batteries

282.36

475.3

0.66

0.71

5.81

8.86

33.68

75.16

12%

16%

15

Numeric Power Systems Ltd.

Uninterupted power supplies

272.87

388.78

0.83

0.70

7.89

7.22

27.76

51.84

10%

13%

16

Trend Electronics Ltd.

Television receivers

775.56

833.17

0.92

0.94

4.79

5.67

31.9

30.46

4%

4%

17

Philips Electronics India Ltd.

Consumer electronics

2582

2857.3

0.65

0.69

6.35

7.33

367.6

348.3

14%

12%

18

Bharat Electronics Ltd.

Electronics

4028.11

4250.05

0.63

0.61

6.08

5.74

1133.58

1281.4

28%

30% 6%

19

Mirc Electronics Ltd.

Television receivers, colour

1509.7

1526.54

0.83

0.87

6.07

6.94

90.77

87.24

6%

20

Xerox India Ltd.

Electronic paper copiers

498.4

559.18

0.80

0.83

12.44

12.19

30.5

41.09

6%

7%

21

Smartlink Network Systems Ltd.

Computer peripherals

289.15

303

0.77

0.75

3.44

3.73

35.59

46.17

12%

15%

22

Moser Baer India Ltd.

Magnetic media

2046.07

1970.88

0.53

0.54

0.39

0.38

598.28

529.96

29%

27%

23

J C T Electronics Ltd.

TV picture tubes colour

290.95

339.32

1.04

0.95

0.78

0.86

523.97

-18.72

180%

-6%

24

I T I Ltd.

Switching systems

1781.36

1205.2

0.93

0.98

0.61

0.44

-216

-422.07

-12%

-35%

25

Bharat Dynamics Ltd.

Defence communication equipment

464.65

568.34

0.75

0.89

3.73

5.03

61.47

82.45

13%

15%

891.67

912.77

0.84

0.96

4.19

4.50

92.07

74.08

10%

8%

ferrous metAls 1

Sujana Universal Inds. Ltd.

Cast iron castings

2

Kamdhenu Ispat Ltd.

Bars & rods

297.51

352.48

0.91

0.90

20.89

10.42

18.89

23.44

6%

7%

3

Jyoti Structures Ltd.

Heavy structurals (Bridges & bridge

968.63

1364.62

0.62

0.71

10.59

15.05

126.32

169.5

13%

12%

4

K E C International Ltd.

Heavy structurals (Bridges & bridge

2031.91

2795.5

0.55

0.58

2.75

3.60

253.61

356.1

12%

13%

5

Kalpataru Power Transmission Ltd.

Heavy structurals (Bridges & bridge

1500.79

1696.98

0.64

0.61

4.56

4.62

260.02

263.05

17%

16%

6

I T W India Ltd.

Chains & anchors of iron & steel

408.1

546.01

0.72

0.74

5.92

5.89

79.26

107.17

19%

20%

7

Pennar Industries Ltd.

Cold rolled coils, strips, sheets

320.12

537.85

0.80

0.79

1.99

3.30

35.36

66.32

11%

12%

8

Skipper Steels Ltd.

Welded steel tubular poles

120.51

315.4

0.85

0.86

5.13

5.12

9.51

24.02

8%

8%

9

Icomm Tele Ltd.

Heavy structurals (Bridges & bridge

366.65

755.4

0.80

0.75

3.54

7.34

34.17

72.57

9%

10%

10

Nalwa Steel & Power Ltd.

Sponge iron

225.36

529.78

0.74

0.66

0.74

1.48

41.49

94.5

18%

18%

11

Jindal Industries Ltd.

Tubes & pipes

474.47

610.75

0.91

0.88

23.46

23.20

31.74

41.69

7%

7%

12

Vardhman Industries Ltd.

Cold rolled coils, strips, sheets

282.77

307.31

0.94

0.94

3.13

6.53

9.81

17.04

3%

6%

13

Vallabh Steels Ltd.

Cold rolled coils, strips, sheets

338.7

320

0.92

0.81

4.64

13.57

1.81

10.43

1%

3%

14

Technocraft Industries (India) Ltd.

Tubes & pipes

307.76

332.88

0.57

0.64

1.89

1.76

68.38

66.77

22%

20%

15

Tube Investments Of India Ltd.

ERW tubes & pipes

1782.21

1839.99

0.70

0.75

2.65

2.65

257.85

157.12

14%

9%

16

Kalyani Carpenter Special Steels Ltd.

Alloy steel, nec

568.11

677.76

0.71

0.77

3.74

3.79

54.11

47.23

10%

7%

17

Kirloskar

Pig iron

529.02

736.18

0.72

0.72

2.16

1.93

88.06

99.17

17%

13%

18

Welspun Power & Steel Ltd.

Inds. Ltd.

Sponge iron

230.91

321.85

0.82

0.66

1.38

0.48

28.7

84.23

12%

26%

19

Electrosteel Castings Ltd.

Tubes & pipes

1149.52

1397.26

0.56

0.64

1.63

1.60

212.69

127.96

19%

9%

20

Concast Ispat Ltd.

Bars & rods

331.91

415.41

0.92

0.97

16.18

24.08

16.65

20.77

5%

5%

21

Mahindra Ugine Steel Co. Ltd.

Alloy steel, nec

715.74

920.79

0.71

0.76

2.10

2.40

99.68

106.34

14%

12%

22

Bhuwalka Steel Inds. Ltd.

Flat products

477.05

516.21

0.93

1.01

9.43

8.65

20.71

22.11

4%

4%

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

60

february 28, 2010 | industry 2.0

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large manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

183.72

182.89

59.49

17.39

103.34

94.23

11.27

8.87

1.63

2008 3.35

24.9

108.46

108.98

122.51

138.02

29.04

33.61

0.46

0.43

6.98

9.69

25.0

336.15

423.95

378.6

426.27

24.34

28.17

21.15

17.47

2.79

2.81

25.2

105.79

95.28

129.1

117.36

22.17

17.33

33.7

41.34

3.36

3.37

28.3

99.17

81.91

88.88

92.99

119.04

0.06

0.18

5.19

5.15

29.9

67.61

23.39

87.45

42.93

30.9

36.08

1.89

0.86

16.47

11.97

30.0

60.71

72.35

55.81

145.82

42.6

43.34

9.92

7.16

0.83

0.33

30.3 30.8

NA

57.14

162.9

59.31

NA

45.6

NA

8.96

NA

2.59

NA

23.72

39.37

45.66

NA

45.49

NA

0.57

NA

23.88

31.6

51.83

52.61

42.3

39.76

64.66

69.43

5.99

6.44

14.33

15.44

33.4

12.63

22.76

74.26

60.83

19.23

36

3.2

4.65

48.55

73.32

33.8

NA

89.15

109.6

92.03

NA

40.79

NA

24.57

NA

11.14

33.8

91.26

75.95

62.91

63.43

48.69

55.08

9.41

7.02

26.08

23.17

34.6 37.4

61.91

56.51

44.77

47.33

48.1

49.67

9.75

9.17

4.09

4.25

45.78

39.09

72.58

79.05

52.61

41.59

6.97

14.15

22.27

22.61

37.9

147.78

193.51

348.85

373.68

193.74

207.85

66.9

63.88

6.18

6.79

40.4

25.33

27.49

54.07

53.68

44.16

49.83

8.63

8.63

25.67

36.07

41.9

66.32

58.5

63.95

62.45

153.47

254.2

7.76

8.37

52.39

58.1

44.2

69.53

67.66

45.46

64

54.51

103.17

7.09

13.42

26.22

24.86

44.3

64.32

63.09

87.7

80.47

82.03

85.3

25.91

45.54

35.55

40.03

46.4

30.02

15.95

294.49

279.76

46.76

52.45

10.52

8.69

11.07

9.98

48.3

338.47

529.75

377.92

490.71

176.22

193.52

42.43

37.3

13.4

18.12

52.3

NA

16.44

1105.42

965.29

NA

261.07

NA

81.13

NA

7.69

54.4

88.81

106.47

32.88

41.4

120.38

3.46

3.94

0.22

10.92

7.85

48.0

29.97

50.98

24.17

55.41

6.61

12.11

0.24

0.29

1.34

1.94

51.5

109.01

112.48

114.08

86.17

30.85

20.56

10.05

3.55

9.88

4.11

51.6

139.62

152.13

196.47

188.3

38.31

37.04

2.63

1.19

4.55

3.44

61.2

97.21

122.8

125.29

125.3

45.83

42.67

4.21

3.77

7.71

7.41

71.6

64.77

63.91

51.32

37.26

35.76

34.09

14.81

13.46

12.7

13.66

77.4

72.37

45.54

20.38

23.95

27.95

24.1

27.67

21.21

6.85

4.37

77.5

50.68

32.75

12.36

13.01

25.76

21.97

7.23

3.94

79.1

247.1

158.44

38.8

30.28

27.11

18.96

1.75

1.36

79.3

13.49

12.85

102.47

25.43

66.49

35.9

0.22

0.11

36.38

15.16

81.9

12.79

17.93

14.7

17.44

23.33

24.57

15.86

17.71

4.31

5.63

83.9

39.72

53.58

52.65

38.24

23.28

18.13

3.76

3.5

11.93

18.81

84.5

49.91

58.44

128.56

51.84

30.31

27.73

13.6

15.95

8.8

9.67

84.6

91.73

105.94

26.22

54.09

141.07

155.74

0

0.62

12.83

13.66

87.0

49.94

54.06

63.49

68.17

31.61

32.66

9.75

8.94

10.65

11.88

87.0

54.25

55.95

69.56

76.56

36.28

41.36

16.72

19.3

5.69

0.92

87.1

37.89

38.28

97.88

103.36

37.25

36.03

4.27

4.99

3.51

5.45

87.2

19.68

18.62

85.64

81.95

38.29

46.82

0.59

0.5

13.31

10.45

87.5

142.83

131.67

61.84

64

103.04

130.4

18.27

3.35

13.85

9.11

89.6

NA

68.69

28.73

10.96

NA

24.53

NA

10.29

NA

23.1

89.8

67.82

63.38

78.67

59.53

56.27

46.42

28.86

24.61

2.11

2.15

90.2

24.23

20.18

25.45

28.4

20.47

20.41

0.33

0.75

14.75

19.88

90.2

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

ferrouS

40.41 129.64

METAls

41.47 161.27

eLecTroNIcS

83.73

Source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

61


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

23

Godawari Power & Ispat Ltd.

Semi-finished Steel

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDITA (Rs. Crore)

PBDITA/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

437.09

819.72

0.75

0.84

0.89

1.74

86.73

161.47

20%

20%

24

S P S Steel & Power Ltd.

Semi-finished Steel

727.17

1061.7

0.76

0.95

1.51

1.95

60.91

101.41

8%

10%

25

Jai Corp Ltd.

Clad, plated or coated flat rolled

344.21

434.93

0.49

0.58

1.35

1.09

96.79

161.02

28%

37%

26

Nelcast Ltd.

Cast iron castings

306.82

363.39

0.57

0.65

2.29

2.00

42.05

53.95

14%

15%

27

Avon Ispat & Power Ltd.

Cold rolled coils, strips, sheets

462.31

427.62

0.87

0.88

3.59

3.51

32.11

34.67

7%

8%

28

Lloyds Metals & Engineers Ltd.

Sponge iron

296.18

329.67

0.74

0.92

0.97

1.50

-5.75

48.16

-2%

15%

29

R L Steels & Energy Ltd.

Semi-finished Steel

259.5

348.27

0.88

0.86

3.55

3.62

22.73

31.15

9%

9% 16%

30

Electrotherm (India) Ltd.

Semi-finished Steel

726.65

1328.89

0.79

0.74

1.46

1.43

102.89

208.19

14%

31

Manaksia Ltd.

Crown caps

645.4

741.35

0.78

0.80

1.42

1.69

85.65

99.77

13%

13%

32

Jayaswal Neco Inds. Ltd.

Pig iron

1237.97

1477.04

0.73

0.69

1.88

2.22

115.06

183.36

9%

12% 21%

33

Ahmednagar Forgings Ltd.

Forgings

374.78

597.49

0.77

0.78

0.86

1.19

73.64

122.93

20%

34

Lanco Industries Ltd.

Spun pipes

370.89

467.15

0.65

0.62

0.96

1.06

54.2

85.97

15%

18%

35

Oil Country Tubular Ltd.

Seamless tubes & pipes

264.08

340.35

0.77

0.48

3.49

3.26

27.68

89.41

10%

26%

36

Ispat Industries Ltd.

Hot rolled coils, strips, sheets

7593.89

8600.27

0.67

0.69

0.51

0.63

1656.29

1777.76

22%

21%

37

Remi Metals Gujarat Ltd.

Alloy steel, nec

203.65

335.75

0.79

0.90

1.82

1.80

-4.52

288.28

-2%

86%

38

Steelco Gujarat Ltd.

Cold rolled coils, strips, sheets

379.05

365.18

0.85

0.79

3.67

3.65

14.57

14.44

4%

4%

39

Maithan Alloys Ltd.

Ferro alloys

153.76

379.41

0.78

0.75

1.85

2.95

24.68

75.04

16%

20%

40

Jai Balaji Inds. Ltd.

Semi-finished Steel

1057.44

1322.62

0.81

0.82

1.40

0.97

153.43

294.49

15%

22%

41

Jindal Saw Ltd.

Tubes & pipes

3886.44

7396.22

0.80

0.57

3.51

3.41

438.62

1273.29

11%

17%

42

Swastik Pipes Ltd.

Tubes & pipes

383.5

446.14

0.97

0.95

13.47

14.05

14.83

18.04

4%

4%

43

J S W Steel Ltd.

Hot rolled coils, strips, sheets

8574.72

11442.8

0.53

0.61

0.44

0.42

3004.71

3698.4

35%

32%

44

Maharashtra Seamless Ltd.

Seamless tubes & pipes

1410.85

1528.63

0.65

0.78

3.20

3.54

371.31

321

26%

21%

45

Man Industries (India) Ltd.

Tubes & pipes

1122.92

1447.3

0.79

0.89

3.06

3.34

125.36

162.95

11%

11%

46

Balasore Alloys Ltd.

Ferro alloys

343.96

539.78

0.59

0.65

0.53

0.93

51.75

104.62

15%

19%

47

Monnet Ispat & Energy Ltd.

Semi-finished Steel

685.51

1205.68

0.65

0.76

0.42

0.70

224.12

298.32

33%

25% 22%

48

I S M T Ltd.

Alloy steel, nec

1209.02

1220.2

0.60

0.67

0.90

0.80

286.45

262.66

24%

49

Lloyds Steel Inds. Ltd.

Hot rolled coils, strips, sheets

1722.59

2208.16

0.80

0.76

1.21

1.62

86.47

106.63

5%

5%

50

Ramsarup Industries Ltd.

Wires & ropes of iron & steel

1275.46

1757.56

1.01

1.04

12.01

2.39

111.6

160.61

9%

9%

51

Bhushan Power & Steel Ltd.

Flat products

2727.93

3494.26

0.80

0.83

0.48

0.46

676.33

1107.66

25%

32%

52

Facor Steels Ltd.

Flat products

425.96

479.28

0.86

0.91

13.05

11.44

15.39

14.52

4%

3%

53

Ratnamani Metals & Tubes Ltd.

Tubes & pipes

576.71

845.6

0.78

0.68

1.74

2.00

128.34

180.56

22%

21%

54

Viraj Profiles Ltd.

Flat products

2492.44

4006.19

1.04

0.75

5.83

6.18

252.96

309.29

10%

8% -10%

55

Shah Alloys Ltd.

Stainless steel

1265.2

921.93

0.87

0.86

2.59

1.89

110.07

-89.48

9%

56

Ferro Alloys Corpn. Ltd.

Ferro alloys

191.43

302.57

0.36

0.31

0.86

1.26

38.08

92.93

20%

31%

57

Sunflag Iron & Steel Co. Ltd.

Other alloy steels, nec

799.36

957.53

0.75

0.77

1.85

2.17

100.7

112.65

13%

12%

58

Mukand Ltd.

Flat products

1870.51

1979.36

0.54

0.65

1.43

1.42

322.09

303.35

17%

15%

59

Tata Steel Ltd.

Finished Steel (Non-Alloy Steel)

17914.77

20446.38

0.33

0.31

0.54

0.51

7332.12

8841.29

41%

43%

60

Sujana Metal Products Ltd.

Flat products

726.34

750.53

0.93

0.99

3.14

2.76

71.89

69.19

10%

9%

61

S A L Steel Ltd.

Sponge iron

266.25

378.35

0.84

0.69

0.74

0.76

45.57

73.82

17%

20%

62

Nava Bharat Ventures Ltd.

Ferro alloys

565.2

907.23

0.54

0.61

0.69

0.85

195.7

413.5

35%

46%

63

Ruchi Strips & Alloys Ltd.

Cold rolled coils, strips, sheets

475.29

451.71

0.91

0.95

17.21

11.16

10.61

13.27

2%

3% 40%

64

Jindal Steel & Power Ltd.

Iron & steel

3521.51

5395.57

0.36

0.38

0.25

0.35

1396.38

2150.35

40%

65

Zenith Birla (India) Ltd.

Tubes & pipes

378.93

479.97

0.86

0.78

3.26

3.64

38

47.57

10%

10%

66

Everest Kanto Cylinder Ltd.

LPG cylinders & other gas containers

340.85

344.56

0.77

0.62

2.87

1.26

90.44

92.68

27%

27%

67

Uttam Galva Steels Ltd.

Flat products

2590.78

3185.74

0.78

0.87

1.63

1.74

336.17

406.05

13%

13%

68

Welspun-Gujarat Stahl Rohren Ltd.

Tubes & pipes

2725.43

4045.71

0.79

0.78

1.31

1.30

317.68

715.32

12%

18%

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

62

february 28, 2010 | industry 2.0

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large manufacturing companies

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007

2008

2007

2008

2007

2008

2007

2008

2007

14.25

13.57

27.59

20.64

48.91

48.49

0.53

0.29

9.19

Composite Score

2008 13.95

90.4 91.0

65.03

74.82

135.59

102.44

106.87

53.55

0.06

0.06

14.95

12.76

35.64

55.92

12.84

26.74

60.97

66.15

9.25

9.17

29.49

14.07

91.7

43.99

55.16

46.5

39.52

24.48

26.55

15.79

19.53

17.78

18.59

93.9

77.84

87.47

59.28

77.38

15.92

16.54

25.59

27.19

8.97

13.38

95.0

22.34

15.88

182.45

170.82

27.26

23.03

0.84

0.93

13.1

9.76

96.8

28.54

28.3

44.86

29.63

22.01

27.55

7.26

4.94

12.17

19.22

97.6

50.46

55.26

132.46

47.31

69.35

76.37

17.06

12.85

7.5

6.05

97.9

75.09

62.15

56.8

48.92

49.4

38.34

14.82

19.58

11.46

12.67

98.2

26.17

25.97

38.41

23.43

66.43

49.74

3.74

3.91

19.23

17.63

99.9 100.1

31.07

27.64

91.8

85.7

25.14

15.37

34.76

39.33

11.96

6.47

71.6

64.24

100.03

81.3

109.29

101.3

10.77

9.23

9.57

9.72

101.1

26.61

32.85

94.33

67.58

44.23

48.43

31.5

29.71

15.4

13.09

102.6

27.54

23.9

112.67

121.13

60.23

68.91

0.66

0.58

10.56

8.29

102.7

74.99

62.33

131.25

102.68

65.43

40.86

43.84

35.53

17.2

7.74

103.5

38.62

33.94

105.06

122.93

21.29

25.95

7.59

6.35

13.09

13.57

103.6

16.68

20.67

48.02

94.19

110.51

109.19

1.18

1.27

9.08

9.66

104.1

38.65

52.42

52.69

72.09

101.81

127.74

0

0.23

4.32

14.86

104.8

48.8

48.56

99.69

50.03

93.41

62.49

14.27

18.34

31.23

16.19

105.3

28.01

25.95

27.26

29.66

23.33

26.36

17.02

19.57

11.96

15.15

106.6

9.92

8.96

116.82

136.47

58.4

50.05

3.77

2.1

10.46

12.12

107.1

40.75

51.71

19.44

36.63

69.03

66.19

13.59

11.25

17.07

21.37

108.9

66.89

68.9

135.84

149.89

30.18

38.74

19.63

14.15

8.66

14.54

111.7

4.67

5.43

165.96

133.73

187.94

135.79

1.24

0.84

5.64

4.07

112.5

20.11

20.94

54.84

47.02

66.31

55

6.79

2.21

24.28

24.96

112.7 113.9

73

75.02

81.3

92.56

61.55

66.83

19.44

20.53

16.81

13.56

21.91

18.39

142.25

109.23

26.39

26.36

32.61

23.06

9.98

7.07

114.7

61.71

64.67

74.7

102.78

31.13

34.18

4.94

2.27

37.32

51.95

115.2

62.63

62.05

89.34

77.3

61.63

74.04

2.45

3.36

14.88

22.89

115.6

15.92

17.33

68.1

73.47

26.11

24.38

14.14

18.13

15.75

18.87

117.2

28.33

35.86

99.01

85.28

37.07

46.26

41.05

33.81

14.49

15.17

118.6

NA

10.84

93.8

21.17

NA

16.14

NA

35.55

NA

32.23

119.6 120.5

23.02

19.73

79.89

30.01

24.19

31.03

9.94

6.19

26.06

31.71

23.06

14.01

86.46

82.66

226.6

275.05

3.13

3.53

21.05

16.46

121.7

23.44

21.63

43.28

22.16

44.88

54.4

12.03

14.08

32.23

27.5

123.4

95.26

96.24

79.79

101.19

36.14

39.85

33.01

36.43

18.02

28.09

125.4

11.44

10.24

95.42

90.74

93.44

104.93

1.41

2.6

25.07

22.47

126.2

80.65

81.44

51.05

68.97

3.71

47.36

9.53

27.94

12.41

23.2

127.5

33.26

10.69

66.88

83.4

47.29

61.86

7.55

4.14

25.14

21.34

127.8

27.96

24.06

67.08

84.4

96.17

85.18

3.82

3.68

45.91

64.13

130.9

33.98

60.57

60.87

117.64

61.5

84.91

23.21

24.07

10.56

11.49

133.1 133.2

29.14

18.33

111.26

92.13

91.58

68.13

9.04

7.63

35.92

34.1

50.19

45.39

129.51

114.3

47.3

30.99

40.88

41.77

31.47

26.09

133.7

31.55

44.72

26.23

87.97

65.95

162.43

30.56

49.53

2.42

12.09

134.2

24.55

27.23

171.06

174.32

66.01

77.54

7.17

8.2

16.38

13.43

135.0

56.41

58.02

145.16

177.43

35.31

54.23

10.61

10.35

37.56

35.9

136.2

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

ferrouS

Debtors Days Available (Days)

METAls

WORKING CAPITAL CyCLE

Source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

63


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

69

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDITA (Rs. Crore)

PBDITA/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

3874

4228.05

0.83

0.85

0.89

0.57

899.7

1186.21

23%

28%

335.13

0.99

0.85

1.26

1.75

18.23

31.14

11%

9%

550.51

0.65

0.63

1.39

1.43

78.52

75.08

16%

14%

716

1.07

0.88

1.73

2.23

25.68

52.32

6%

7%

249.26

356.53

0.84

0.99

0.88

1.40

37.65

85.84

15%

24%

1442.36

2043.92

0.86

0.71

2.69

3.17

187.91

235.37

13%

12%

1411.51

1686.65

0.62

0.63

0.74

0.73

295.69

378.79

21%

22%

Hot rolled coils, strips

8220.72

10931.45

0.67

0.55

0.55

0.61

1879.48

2187.96

23%

20%

Iron & steel

790.21

1050.04

0.77

0.72

1.09

0.89

124.73

183.72

16%

17%

Visa Steel Ltd.

Pig iron

548.77

692.44

0.71

1.03

0.63

0.71

65.64

123.97

12%

18%

J S L Ltd.

Flat products

4967.79

5255.21

0.74

0.99

0.98

1.09

915.93

848.69

18%

16%

635.01

0.95

0.93

32.14

28.96

11.34

16.21

2%

3% 11%

Bhushan Steel Ltd.

Cold rolled coils, strips, sheets

70

Vikash Metal & Power Ltd.

Sponge iron

169.63

71

L G Balakrishnan & Bros. Ltd.

Chains & anchors of iron & steel

484.51

72

Indian Steel Corpn. Ltd.

Clad, plated or coated flat rolled

427.8

73

Sathavahana Ispat Ltd.

Pig iron

74

P S L Ltd.

Tubes & pipes

75

Usha Martin Ltd.

Wires & ropes of iron & steel

76

Essar Steel Ltd.

77

Adhunik Metaliks Ltd.

78 79

food And beverAges 1

Vimal Oil & Foods Ltd.

Cotton seed oil

492.48

2

Shiva Distilleries Ltd.

Indian made foreign liquors

284.87

342

0.32

0.33

7.47

8.97

19.99

37.63

7%

3

John Distilleries Ltd.

Indian made foreign liquors

184.83

314.61

0.79

0.74

6.36

7.67

15.54

20.45

8%

7%

4

Vijay Solvex Ltd.

Vanaspati

535.45

646.64

0.86

0.96

14.93

18.62

16.95

22.36

3%

3%

5

Hatsun Agro Products Ltd.

Milk

589.16

867.24

0.83

0.85

3.39

4.22

35.13

56.06

6%

6%

6

Parle Biscuits Pvt. Ltd.

Biscuits

1344.09

1560.3

0.70

0.62

4.30

2.61

136.72

226.33

10%

15%

7

Hind Agro Inds. Ltd.

Meat of buffaloes

473.1

359.58

0.81

0.85

4.08

3.43

29.41

20.06

6%

6%

8

Balaji Distilleries Ltd.

Indian made foreign liquors

424.85

535.19

0.31

0.33

1.10

1.39

24.27

143.07

6%

27%

9

Modern Dairies Ltd.

Skimmed milk powder

173.19

412.89

1.09

0.95

1.86

3.56

8.32

28.81

5%

7%

10

Britannia Industries Ltd.

Biscuits

2264.51

2596.46

0.65

0.57

6.91

5.87

147.47

267.75

7%

10%

11

Kwality Dairy (India) Ltd.

Dairy products

149.64

333.1

1.00

0.97

21.79

38.70

8.44

12.76

6%

4%

12

Pepsico India Holdings Pvt. Ltd.

Soft drinks

2062.6

2419.7

0.47

0.47

1.14

1.24

221.47

225.6

11%

9%

13

Heritage Foods (India) Ltd.

Milk

346.47

618.95

0.86

0.84

2.60

2.48

10.76

23.68

3%

4%

14

Varun Beverages Ltd.

Soft drinks

323.11

367.18

0.65

0.67

0.71

0.77

56.18

61.32

17%

17%

15

Vikas W S P Ltd.

Guar gum

249.26

318.04

0.66

0.71

0.58

0.42

60.29

94.96

24%

30%

16

Kohinoor Foods Ltd.

Rice

589.92

634.3

0.92

1.02

8.62

9.34

59.26

45.03

10%

7%

17

Sanwaria Agro Oils Ltd.

Soyabean oil cake

374.16

750.06

0.87

0.84

3.89

4.80

20.53

77.59

5%

10%

18

Godrej Agrovet Ltd.

Animal and bird feeds

692.04

1235.08

0.88

0.88

5.40

8.50

23.88

79.11

3%

6%

19

Tinna Oils & Chemicals Ltd.

Edible oils

380.94

488.89

0.84

0.89

9.94

14.43

12.2

26.96

3%

6%

20

B C L Industries & Infrastructures Ltd.

Edible oils

205.89

404.93

0.87

0.89

14.68

22.02

6.03

8.31

3%

2%

21

United Spirits Ltd.

Ethyl alcohol (strength less than 80%)

2992.15

3134.19

0.35

0.39

2.26

2.30

765.03

643.4

26%

21%

22

Radico Khaitan Ltd.

Indian made foreign liquors

571.03

805.68

0.39

0.48

0.68

0.99

91.18

104.37

16%

13%

23

Riddhi Siddhi Gluco Biols Ltd.

Starches

333.53

332.99

0.76

0.77

1.02

0.88

54.9

55.71

16%

17%

24

Sakthi Sugars Ltd.

Sugar

809.24

695.91

0.61

0.69

0.79

0.53

200.13

157.12

25%

23%

25

Amrit Banaspati Co. Ltd.

Vanaspati

630.97

759.53

0.89

0.93

16.34

19.97

12.08

9.8

2%

1%

26

Gujarat Ambuja Exports Ltd.

Soyabean oil cake

1407.72

1845.58

0.88

0.87

4.74

6.03

105.71

159.22

8%

9%

27

Kanpur Edibles Pvt. Ltd.

Vanaspati

363.71

668.13

0.94

0.95

26.38

36.04

5.97

9.14

2%

1%

28

Skol Breweries Ltd.

Beer

882.45

1135.55

0.31

0.36

0.34

0.40

139.2

147.03

16%

13%

29

Gokul Refoils & Solvent Ltd.

Edible oils

1532.26

2019.9

0.93

0.95

12.34

11.37

64.12

125.12

4%

6%

30

Jagatjit Industries Ltd.

Liquors

451.39

549.93

0.52

0.63

0.70

1.04

40.81

46.6

9%

8%

31

Saraswati Sugar Mills Ltd.

Sugar

297.21

313.53

0.90

1.13

2.15

2.63

31.99

2.81

11%

1%

32

Ruchi Soya Inds. Ltd.

Soyabean oil

8642.39

11067.61

0.92

0.94

7.25

8.38

343.43

481.72

4%

4%

33

S S A International Ltd.

Rice

292.62

381.77

1.04

1.00

11.15

14.34

12.88

20.4

4%

5%

34

Milkfood Ltd.

Ghee

310.94

323.06

0.84

0.90

3.01

3.40

14.25

15.97

5%

5%

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

64

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


large manufacturing companies

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007

2008

2007

2008

2007

2008

2007

2008

2007

41.08

45.35

76.91

108.87

40.16

58.47

13.45

14.38

16.32

58.49

71.85

112.99

132.54

117.27

163.08

39.67

28.17

52.14

56.02

78.89

69.89

67.3

69.6

37.07

47.46

16.01

28.1

103.02

119.38

46.81

49.96

21.51

20.47

16.74

Composite Score

2008 25.96

137.0

13.85

11

139.8

27.54

28.36

141.3

19.09

142.4 142.9

38.22

29.5

149.95

192.42

76.61

54.66

3.79

3.5

61.76

89.84

73.78

45.67

125.57

131.06

65.21

51.29

55.91

55.32

40.64

36.02

151.9

50.91

48.88

122.16

196.8

57.74

81.05

20.65

22.84

33.39

35.22

152.5 153.5

22.62

14

165.11

124.6

115.6

101.71

24.85

29.67

17.38

16.94

38.2

47.83

79.25

112

81.9

68.85

13.55

45.93

21.67

28.5

156.1

29.27

37.28

139.14

250.11

146.87

154.3

1.52

2.79

26.42

38.48

157.9

32.44

42.71

137.86

157.98

47.74

62.51

14.62

25.13

23.68

40.77

165.7

30.76

27.25

34.69

26.09

23.31

27.01

0.27

0.12

10.4

10.9

54.5

6.9

9.22

24.94

22.64

19.11

21.72

4.05

3.59

1.43

0.31

57.3

NA

24.33

28.27

12.81

NA

19.52

NA

4.73

NA

1.65

58.9

18.49

18.14

18.7

16.86

14.87

18.79

0.39

0.39

11.18

12.09

59.6

3.61

4.25

26.67

28.82

5.48

5.6

1.34

1.61

3.4

7

61.1

1.32

3.7

20.08

27.74

10.19

12.06

0.01

0.24

14.85

20.45

62.5

34.95

53.01

24.72

33.23

2.09

2.47

0.16

0.68

34.54

51.59

63.5 65.9

54.51

57.41

14.96

17.63

4.09

3.84

0.69

0.26

44.99

27.59

5.43

4.72

0.66

0.79

31.94

29.83

67.3

3.99

5.45

37.46

37.46

35.4

45.99

0.05

0.03

9.91

10.64

68.0

50.72

48.49

75.98

71.19

2.64

1.16

0

2.05

34.71

22.29

69.2

NA

19.75

67.44

73.14

NA

51.92

NA

0.16

NA

7.98

70.2

3.65

4.35

35.84

40.56

20.18

16.01

0.05

0.07

21.81

16.87

71.3

28.32

32.57

71.24

64.15

44.76

46.84

2.1

1.75

6.33

6.55

71.6

83.94

64.7

35.41

35.07

179.28

81.67

0

0.03

15.49

21.4

71.8

50.52

70.06

21.76

15.64

41.19

31.19

0.11

0.13

204.87

241.41

73.1

15.95

17.83

24.15

24.73

74.14

83.94

0.44

0.55

8.66

9.61

73.3

33.91

18.61

76.41

56.3

42.8

30.49

2.49

0.84

20.17

13.08

73.3

23.47

25.65

11.05

12.33

23.17

26.6

8.05

7.27

10.1

11.33

74.9 77.3

18.19

11.43

56.4

32.18

43.53

33.6

3.44

2.82

11.98

6.93

27.01

25.92

44.89

53.07

28.2

31.91

26.55

28.52

8.98

8.88

79.1

41.59

40.51

27.41

25.02

50.59

54.86

4.83

5.42

10.38

9.55

80.6

55.27

68.35

26.33

24.38

95.47

114.69

4.91

7.75

4.42

5.75

81.1

20.67

23.8

54.84

77.29

32.27

30.71

2.23

2.34

10.85

14.24

81.5

3.88

6.77

24.51

24.17

14.71

22.15

2.81

3.7

6.93

10.75

81.8

17.17

15.75

9.14

21.57

53.83

54.27

0.78

0.53

22.75

26.39

82.5

NA

14.81

30.67

50.66

NA

31.52

NA

4.74

NA

5.24

85.4

46.56

46.69

96.98

87.56

33.83

34.61

7.22

7.1

7.08

9.33

86.1 86.6

16.62

16.59

54.57

56.64

20.78

37.5

0.15

0.29

15.82

23.55

59.73

53.39

61.38

57.67

50.4

59.15

1.51

1.76

23.13

20.3

87.4

8.05

9.66

67.51

33.26

12.29

10.87

0.21

0.18

86.06

105.45

88.5 88.6

31.62

30.95

65.06

96.48

33.05

43.06

1.41

1.16

17.15

20.06

20.93

16.45

21.97

32.28

53.18

57.16

0

0.01

43.02

58.11

89.4

13.07

11.85

49.54

52.95

5.77

5.08

2.89

3.49

33.14

28

89.5

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

fooD

7.19 22.87

& BEvErAgE

6.53 32.09

ferrouS

Debtors Days Available (Days)

METAls

WORKING CAPITAL CyCLE

Source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

65


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDITA (Rs. Crore)

PBDITA/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

2811.06

3498.16

0.51

0.54

2.45

2.81

547.25

704.2

19%

20%

Poultry

412.19

525.08

0.80

0.76

2.84

3.25

31.83

59.05

8%

11%

Cigarettes

763.83

899.2

0.41

0.47

2.46

2.77

157.22

193.17

21%

21%

Sugar

802.94

733.7

0.89

0.58

1.59

0.55

96.92

119.86

12%

16%

35

Nestle India Ltd.

Dairy products

36

Venky'S (India) Ltd.

37

Godfrey Phillips India Ltd.

38

Shree Renuka Sugars Ltd.

39

J V L Agro Inds. Ltd.

Vanaspati

685.19

1159.63

0.91

0.93

13.75

19.88

19.63

36.63

3%

3%

40

Balrampur Chini Mills Ltd.

Sugar

1920.65

1384.57

0.37

1.14

0.50

0.81

473.25

118.77

25%

9%

41

Ruchi Infrastructure Ltd.

Edible oils

884.58

983.87

0.85

0.98

7.06

4.53

50.57

75.25

6%

8%

42

Tinna Agro Inds. Ltd.

Edible oils

240.79

316.47

0.96

0.94

8.03

11.10

7.03

13.61

3%

4%

43

E I D-Parry (India) Ltd.

Sugar

660.73

675.7

0.97

0.76

1.27

0.78

223.8

43.11

34%

6%

44

Anik Industries Ltd.

Dairy products

475.22

750.91

1.07

1.05

6.72

8.48

29.67

54.98

6%

7%

45

Adani Wilmar Ltd.

Edible oils

2689.6

3446.36

0.81

0.92

8.11

11.41

97.49

152.25

4%

4%

46

Marico Ltd.

Edible oils

1368.1

1566.89

0.54

0.54

6.89

5.83

202.02

216.72

15%

14%

47

Ugar Sugar Works Ltd.

Sugar

174.43

437.59

1.93

0.39

1.86

0.78

20.03

62.16

11%

14%

48

Bannari Amman Sugars Ltd.

Sugar

665.84

541.06

0.72

0.96

1.24

1.19

153.38

85.7

23%

16%

49

Dhampur Sugar Mills Ltd.

Sugar

982.78

609.98

0.59

1.19

1.00

0.74

214.48

19.22

22%

3%

50

Tata Coffee Ltd.

Coffee

267.97

325.88

0.46

0.50

0.51

0.66

51

62.04

19%

19%

51

Rajshree Sugars & Chemicals Ltd.

Sugar

380.88

335.72

0.73

0.77

1.22

0.73

53.97

18.83

14%

6%

52

V S T Industries Ltd.

Cigarettes

322.11

345.7

0.50

0.51

1.64

1.45

94.35

100

29%

29%

53

I T C Ltd.

Cigarettes

12503.01

14400.6

0.52

0.49

1.11

0.91

4334.59

5056.8

35%

35%

54

Thiru Arooran Sugars Ltd.

Sugar

285.19

344.94

0.68

0.46

1.39

1.07

54.18

11

19%

3%

55

Glaxosmithkline Consumer Healthcare Ltd.

Malted milk foods

1132.87

1322.37

0.35

0.39

1.55

2.14

236.83

293.24

21%

22%

56

Godavari Sugar Mills Ltd.

Sugar

470.95

577.5

0.78

0.66

1.71

1.64

44.22

51.82

9%

9%

57

Cadbury India Ltd.

Chocolate confectionery

1058.14

1282.63

0.36

0.41

1.56

1.94

147.13

196.31

14%

15%

58

Upper Ganges Sugar & Inds. Ltd.

Sugar

416.83

319.82

0.61

1.33

1.45

1.14

74.35

-7.61

18%

-2%

59

Desai Brothers Ltd.

Bidis

411.12

467.49

0.71

0.74

5.85

7.60

67.73

86.29

16%

18%

60

Oudh Sugar Mills Ltd.

Sugar

506.37

441.55

0.60

1.04

1.31

1.10

112.4

9.4

22%

2%

61

Shree Ambika Sugars Ltd.

Sugar

422.6

357.39

0.62

0.82

0.74

0.67

98.84

31.97

23%

9%

62

Olam Exports (India) Ltd.

Cashew nuts

933.29

1269.39

1.23

1.07

80.31

76.85

34.49

48.96

4%

4%

63

V V F Ltd.

Other fixed vegetable fats & oils nec

810.96

1108.4

0.68

0.88

1.12

1.73

124.25

155.19

15%

14%

64

Foods, Fats & Fertilisers Ltd.

Vegetable oils

307.02

461.53

0.90

0.77

3.78

4.56

29.76

42.14

10%

9%

620.1

779.82

0.70

0.74

4.85

4.62

146.6

173.83

24%

22%

generAtors And power equipment 1

Sudhir Gensets Ltd.

Generating sets with diesel engines

2

Areva T & D India Ltd.

Switching apparatus

1614.56

2007.87

0.77

0.69

10.99

6.08

231.98

374.79

14%

19%

3

Crompton Greaves Ltd.

Motors & generators

3403.45

4093.03

0.77

0.70

6.08

5.53

379.46

563.25

11%

14%

4

Bilpower Ltd.

Stampings & laminations

223.27

308.48

0.84

0.99

19.92

7.70

27.5

37.1

12%

12%

5

Siemens Ltd.

Switching apparatus

4654.14

7938.13

0.49

0.37

5.52

5.21

549.89

923.66

12%

12%

6

Powerica Ltd.

Generating sets with diesel engines

644.22

819.44

0.68

0.72

7.69

5.95

111.84

136.06

17%

17%

7

A B B Ltd.

Switchgears, nec

4306.17

5968.1

0.74

0.71

9.56

9.29

550.4

799.32

13%

13%

8

Bharat Bijlee Ltd.

Transformers

474.82

565.25

0.74

0.73

10.36

7.38

91.32

117.45

19%

21%

9

Igarashi Motors India Ltd.

AC motors, others

260.49

306.81

0.79

0.76

2.02

2.27

25.55

34.55

10%

11%

10

Transformers & Rectifiers (India) Ltd.

Transformers

218.25

306.2

0.81

0.79

8.65

6.48

30.96

58.88

14%

19%

11

Legrand (India) Pvt. Ltd.

Automatic circuit breakers

239.67

322.31

0.75

0.69

6.81

7.47

47.78

50.82

20%

16%

12

Kaytee Switchgear Ltd. [Merged]

Motors & generators

330.88

404.08

0.78

0.81

2.04

2.58

34.49

49.28

10%

12%

13

Anchor Electricals Pvt. Ltd.

Switching apparatus

845.82

830.52

0.86

0.61

4.58

2.30

132.02

41.61

16%

5%

14

Vijai Electricals Ltd.

Transformers

1325.08

1334.5

0.58

0.70

1.97

1.78

255.63

189.5

19%

14%

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

66

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


large manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

5.66

5.73

55.24

53.74

28.24

28.31

6.29

6.13

19.08

2008 19.06

89.8

37.19

32.3

43.24

34.95

25.77

28.87

10.93

15.03

26.92

22.66

90.3

3.28

4.01

22.65

35.71

188.76

228.14

1.72

2.05

11.24

11.23

90.4

16.2

22.18

41.28

48.28

41.63

36.48

2.35

2.08

30.12

36.7

90.6

9.72

15.28

81.85

105.54

57.32

61.6

3.6

1.34

11.52

9.53

93.1

7.9

12.51

50.64

73.07

19.35

17.86

1.65

0.25

62.97

62.37

93.1

18.96

30.43

56.79

97.14

17.79

29.65

5.02

4.01

15.59

19.5

94.4

12.68

27.01

14.14

34.77

8.68

8.32

12.26

15.44

95.1

115.89

80.03

8.59

9.23

4.43

4.78

55.07

82.46

96.0

74.88

64.39

150.37

118.11

8.86

4.5

19.64

13.67

25.05

42.06

96.1

12.56

11.36

67.31

107.7

24.06

49.71

0.51

0.53

28.74

20.64

97.5

12.6

10.11

88.2

52.12

41.5

40.79

8.98

11.74

15.71

19.19

98.3

40.27

22.61

297.34

110.44

17.72

18.48

2.54

3.24

216.46

151.33

100.0 100.0

36.26

50.16

67.9

72.38

21

23.61

2.58

3.17

121.73

175.58

17.3

28.59

47.05

130.28

29.98

20

1.6

0.49

30.32

52.06

100.1

43.34

55.94

87.52

81.68

67.34

63.04

2.81

2.19

98.73

73.04

100.8

17.45

24.91

92.53

159.73

11.61

12.12

2

2.44

82.18

88.85

101.2

2.29

2.26

85.26

98.55

179.47

212.48

3.02

3.5

7.24

7.59

102.8

11.64

12.19

54.2

58.57

187.64

199.56

2.46

2.89

20.85

21.32

102.8

7.82

9.84

113.7

132.58

19.9

13.8

1.68

1.92

162.51

113.57

102.9

8.11

7.32

66.21

66.26

36.32

43.39

6.08

4.35

30.34

31.09

103.5

28.36

18.13

60.7

52.79

37.89

36.8

2.73

3.13

125.3

117.47

103.6 107.4

4.67

3.92

96.63

103.55

36.65

39.85

9.24

8.24

18.74

16.61

3.37

6.1

30.35

101.23

11.52

8.73

3.61

1.55

109.88

138.94

111.6

2.78

3.01

74.3

75.57

107.62

163.24

3.85

5.28

19.79

22.36

117.3

2.55

4.74

36.18

108.59

14.63

12.42

1.91

2.09

113

119.12

117.5

44.03

62.53

126.93

174.99

101.74

64.58

2.8

2.49

113.6

130.56

118.9

7.9

20.26

44.99

33.82

101.77

91.09

6.44

10.21

67.39

88.1

122.4

125.12

170.26

122.95

86.25

37.19

22.77

39.52

42.05

122.8

23.5

98.37

103.3

93.9

133.13

28.7

31.57

30.66

26.95

123.0

23.96

27.86

61.17

64.65

30.04

42.47

0.8

1.98

1.08

2.58

16.0

110.96

137.35

162.38

189.55

28.84

32.61

36.32

36.2

0.81

0.83

17.8

74.2

74.39

94.91

99.6

11.8

15.53

17.34

16.62

5.06

4.38

17.9

100.96

122.16

36.13

55.53

6.2

10.92

28.58

20.42

11.47

12.46

18.1

73.97

78.14

196.12

143.61

27.23

26.78

4.23

2.67

8.34

5.27

18.7

38.15

39.34

91.99

91.83

41.87

41.98

6.85

5.33

3.61

3.24

18.8

105.49

116.49

169.9

184.05

51.27

61.87

15.26

17.82

2.06

2.57

20.0

82.28

89.48

91.17

84.95

17.85

20.66

27.01

30.83

10.54

10.45

20.1

71.72

77.73

73.39

87.52

47.33

40.39

5.46

4.96

4.91

5.25

21.2

87.49

101.15

123.64

90.92

32.41

25.17

38.95

46.6

3.7

6.87

21.9

81.59

90.71

90.98

85.86

52.55

46.3

18.84

16.91

26.92

23.61

22.0

72.73

68.56

116.62

106.57

13.62

13.05

26.07

22.04

5.48

5

22.9

104.95

128.68

249.74

81.55

70.72

70.35

11.9

13.21

61.81

75.57

23.1

77.17

111.28

98.95

131.38

85.45

91.54

7.81

15.88

7.88

8.63

25.0

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

geNerATorS

56.51

& POwEr EquIPMEnT

51.16 31.55

fooD

17.32 53.68

& BEvErAgE

18.54 127.51

Source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

67


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore) 2007

Cost of Goods Sold (as % of sales)

2008

2007

2008

Fixed Assets Turnover Ratio (FATR) 2007

2008

PBDITA (Rs. Crore) 2007

2008

PBDITA/Net Sales 2007

2008

glAss And cerAmics 1

Gujarat Guardian Ltd.

Float glass & surface polished glass

462.56

423

0.30

0.33

0.78

0.97

194.38

147.01

42%

35%

2

Hindusthan National Glass & Inds. Ltd.

Glass containers

518.48

1026.25

0.58

0.59

0.82

0.68

102.39

240.04

20%

23%

3

Owens-Corning (India) Ltd.

Glass fibres

253.88

307.25

0.64

0.49

0.44

0.43

50.02

68.2

20%

22%

4

Vesuvius India Ltd.

Other refractories

271.09

321.36

0.62

0.61

2.39

2.41

42.22

60.68

16%

19%

5

Tata Refractories Ltd.

Other refractories

459.44

528.32

0.73

0.76

1.78

2.28

56.53

61.27

12%

12%

6

Piramal Glass Ltd.

Vials for injectables

399.43

489.65

0.39

0.51

0.28

0.36

112.92

133.81

28%

27%

7

Graphite India Ltd.

Graphite carbon bricks

874.93

1129.01

0.63

0.56

1.07

1.27

302.93

267.74

35%

24%

8

Somany Ceramics Ltd.

Ceramic tiles

275.64

330.16

0.57

0.56

1.28

1.33

30.31

35.81

11%

11%

9

H E G Ltd.

Graphite carbon bricks

837.85

962.29

0.63

0.51

0.77

0.77

201.57

301.99

24%

31%

10

Parryware Roca Pvt. Ltd.

Ceramic sinks, wash basins, etc.

275.46

343

0.63

0.75

1.27

1.93

38.78

40.54

14%

12%

11

H S I L Ltd.

Ceramic sinks, wash basins, etc.

479.77

522.24

0.63

0.66

1.20

1.32

84.7

87.67

18%

17%

12

Asahi India Glass Ltd.

Toughened & laminated (safety) glass

777.25

1048.68

0.68

0.68

0.41

0.55

201.1

209.66

26%

20%

13

Kajaria Ceramics Ltd.

Ceramic tiles

411.36

503.69

0.87

0.78

1.00

1.16

55.47

84.16

13%

17%

14

H & R Johnson (India) Ltd.

Glazed ceramic tiles, paving & flags

899.42

1011

0.70

0.73

1.46

1.81

76.92

75.5

9%

7%

15

Nitco Ltd.

Ceramic tiles

415.95

578.31

1.00

0.77

2.01

1.76

73.7

85.42

18%

15%

non electricAl mAchinery 1

Simpson & Co. Ltd.

Diesel engines

604.86

618.13

0.76

0.76

6.30

5.58

116.45

107.7

19%

17%

2

Tata Cummins Ltd.

Other engines

1316.03

1520.98

0.80

0.82

4.72

3.39

187.57

212.15

14%

14%

3

Audco India Ltd.

Valves

690.57

865.34

0.77

0.77

6.96

6.62

90.1

117.88

13%

14%

4

Thermax Ltd.

Steam boilers

2186.67

3228.79

0.74

0.74

8.93

7.18

310.7

453.55

14%

14%

5

Lakshmi Machine Works Ltd.

Textile spinning machines

1954.22

2348.71

0.65

0.65

3.30

2.75

374.64

486.83

19%

21%

6

Ion Exchange (India) Ltd.

Water treatment plants

408.97

479.7

0.78

0.80

6.46

5.89

22.32

27.11

5%

6%

7

Paharpur Cooling Towers Ltd.

Industrial cooling towers

666.83

862.27

0.59

0.58

6.18

5.18

140.65

184.08

21%

21%

8

Cummins India Ltd.

Internal combustion engines

1917.39

2425.74

0.71

0.72

7.54

6.86

380.91

429.77

20%

18%

9

Greaves Cotton Ltd.

Diesel engines

844.8

1071.55

0.73

0.73

4.71

3.61

156.21

178.16

18%

17%

10

Ingersoll-Rand (India) Ltd.

Compressors

622.21

542.7

0.75

0.67

11.23

16.04

81.94

312.14

13%

58%

11

S K F India Ltd.

Ball or roller bearings

1345.83

1577.83

0.73

0.69

5.36

5.56

188.1

283.03

14%

18%

12

Kirloskar Brothers Ltd.

Pumps

1563.33

1552.37

0.60

0.76

5.85

6.01

397.74

188.97

25%

12%

13

Elgi Equipments Ltd.

Compressors

379.73

454.23

0.73

0.69

7.09

6.40

42.36

63.1

11%

14%

14

Kirloskar Oil Engines Ltd.

Internal combustion engines

1983.48

2212.66

0.71

0.74

4.25

2.30

279.67

260.71

14%

12%

15

Timken India Ltd.

Tapered roller bearing, incl. cone

334.42

345.04

0.62

0.64

3.50

3.52

68.58

67.31

21%

20%

16

Kirloskar Pneumatic Co. Ltd.

Compressors

354.32

400.26

0.69

0.72

7.59

6.67

60.16

44.24

17%

11%

17

Cmi F P E Ltd.

Other industrial machinery

511.37

327

0.78

0.84

11.67

8.15

32.02

26.05

6%

8%

18

Atlas Copco (India) Ltd.

Compressors

739.2

971.87

0.74

0.78

3.85

4.65

138.09

158.09

19%

16%

19

F A G Bearings India Ltd.

Ball or roller bearings

546.32

651.41

0.63

0.59

2.47

2.72

127.93

144.34

23%

22%

20

Praj Industries Ltd.

Brewery machinery

615.71

738.64

0.68

0.55

9.00

3.82

113.78

179.94

18%

24%

21

Bharat Heavy Electricals Ltd.

Prime movers

17777.54

20481.28

0.55

0.60

7.50

7.41

4038.06

4751.25

23%

23%

22

Alfa Laval (India) Ltd.

Machinery used in food & beverage

600.42

704.74

0.62

0.67

5.97

5.71

114.07

144.04

19%

20%

23

Lohia Starlinger Ltd.

Weaving machines

269.84

317.96

0.63

0.73

2.23

2.33

53.62

41.64

20%

13%

24

Manugraph India Ltd.

Printing machinery

379.23

454.07

0.56

0.67

3.59

4.17

81.93

107.25

22%

24%

25

Walchandnagar Industries Ltd.

Industrial machinery

358.98

636.54

0.74

0.70

1.69

2.55

27.35

63.38

8%

10%

26

N R B Bearings Ltd.

Ball or roller bearings

305.59

326.85

0.50

0.49

1.19

1.00

80.96

76.16

26%

23%

27

K S B Pumps Ltd.

Pumps

406.05

470.71

0.56

0.67

3.30

3.54

87.4

80.58

22%

17%

28

Heavy Engineering Corpn. Ltd.

Mining, construction & earth moving

278.48

383.68

0.58

0.52

2.45

2.31

27.49

35.24

10%

9%

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

68

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


large manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

2007

2008

2007

2008

29.71

32.66

53.65

46.17

57.49

42.6

52.51

57.04

Raw Material Holding Period (Days) 2007

WIP Holding Period (Days)

Finished Goods Holding Period (Days) 2007

Composite Score

2008

2007

2008

2008

62.7

58.41

4.88

9.37

13.88

8.32

13.1

77.57

62.77

2.67

1.68

32.64

19.66

14.8 15.5

39.29

61.53

119.21

75.19

87.47

74.2

1.33

1.98

18.24

16.57

104.29

98.35

74.34

77.25

87.42

76.69

13.62

12.17

9.83

8.82

18.1

65.37

67.58

62.06

56.34

48.84

58.64

18.58

16.51

18.13

21.97

19.8 20.4

57.55

80.73

116.65

120.82

8.67

2.71

17.93

25.03

98.76

79

82.58

73.74

64.47

84.85

88.11

15.02

17.11

20.7

59.1

64.14

97.02

70.11

98.26

83.15

4.91

3.5

50.1

38.3

20.7 20.9

68.65

91.23

36.6

44.19

127.91

131

67.65

91.95

12.48

11.66

19.35

20.69

56.67

57.75

54.35

51.2

7.62

7.77

46.19

54.66

21.7

62.22

56.87

76.2

74.09

72.12

77.78

5.55

6.77

67.98

70.61

23.6 26.5

21.69

29.39

92.41

64.39

108.93

111.11

5.33

5.86

40.56

57.82

47.48

46.23

53.15

56.28

71.08

90.74

8.89

9.03

54.41

72.94

27.4

24.12

26.45

78.21

79.62

139.26

151.36

7.11

7.72

31.15

25.32

29.3

31.92

41.02

87.15

81.63

84.8

85.94

8.5

9.46

98.14

98.97

31.5

79.83

88.68

53.01

44.89

24.89

26.78

4.73

5.21

2.41

3.08

20.9

13.07

17.39

43.13

45.42

15.3

22.16

3.05

4.14

2.43

1.48

24.4

101.46

91.97

30.09

25.42

17.39

16.93

1.7

2.56

29.1

186.18

127.49

32.39

28.01

9.95

10.25

1.75

0.94

29.7

8.7

8.95

172.48

129.17

37.37

28.28

5.12

5.13

1.66

1.98

30.1

133.82

138.16

147.88

142.13

22.57

30.37

3.09

4.27

5.56

5.43

32.1

97.57

96.95

107.41

103.74

46.5

44.53

24.01

24

4.35

3.97

33.1

69.62

67.89

61.79

77.31

53.48

50.39

18.76

16.11

1.93

2.17

34.7

41.78

36.04

86.68

80.38

31.24

34.04

6.51

4.97

7.27

6.65

34.9

75.19

86.25

101.23

74.27

69.32

74.88

10.81

12.16

6.63

9.88

35.0

33.41

39.62

65.45

61.5

35.3

31.15

6.99

7.38

26.16

24.76

35.2

93.9

91.87

158

179.41

17.96

22.74

15.46

15.63

7.01

5.36

35.5

57.42

50.85

69.07

68.05

40.17

38.96

8.5

8.35

12.54

13.98

35.9

62.26

58.54

89.78

90.45

31.12

33.2

7.58

8.76

3.75

4.59

37.8

57.2

61.24

44.95

59.5

47.27

46.21

11.38

10.02

24.75

31.4

39.2

92.58

100.45

110.29

124.99

39.65

42.97

23.76

31.84

3.48

5.33

40.2

87.29

130.37

102.17

119.51

13.23

27.69

41.18

50.32

0

15.28

43.3

83.14

89.93

92.32

97.89

63.63

61.79

4.7

7.31

24.1

33.3

44.1

44.91

48.36

61.85

62.77

69.75

65.91

12.96

12.8

23.95

27.67

44.4

46.11

70.86

253.95

200.98

34.93

66.21

11.9

17.89

7.54

7.45

44.7

190.01

216.83

273.98

326.1

77.14

80.94

55.85

68.49

9.07

9.82

45.2

101.69

88

120.7

116.54

74.06

89.28

18.72

12.41

14.86

18.67

45.7

NA

19.25

73.34

71.36

NA

88.59

NA

26.76

NA

1.46

47.5

17.92

26.36

110.92

111.54

48.8

45.12

25.96

13.75

52.08

45.01

47.6

96.58

74.99

244

169.75

66.64

50.02

57.63

40.87

5.9

3.58

48.7

66.44

78.39

49.26

67.23

61.46

67.03

30.68

33.26

33.62

37.66

48.8

63.25

68.75

104.96

104.99

70.72

57.1

65.59

67.62

14.27

11.42

50.1

159.24

148.69

645.05

505.17

134.36

91.94

96.32

74.54

14.6

17.93

58.3

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

NoN eLecTrIcAL

106.4 52.82

MAChInEry

111.5 53.44

gLASS

104.69

& CErAMICs

77.56 96.44

Source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

69


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore) 2007

Cost of Goods Sold (as % of sales)

2008

2007

Fixed Assets Turnover Ratio (FATR)

2008

2007

2008

PBDITA (Rs. Crore) 2007

PBDITA/Net Sales

2008

2007

2008

non ferrous metAls 1

Transpek-Silox Industry Ltd.

Zinc products, nec

314.54

347.87

0.80

0.81

4.43

4.86

28.83

28.23

9%

8%

2

Sterlite Industries (India) Ltd.

Copper

11957.35

13481.76

0.89

0.88

6.11

6.94

1212.94

1399.4

10%

10%

3

Bharat Aluminium Co. Ltd.

Aluminium, unwrought

4234.89

4246.05

0.52

0.56

0.65

0.72

1744.23

1344.45

41%

32%

4

Madras Aluminium Co. Ltd.

Aluminium, unwrought

422.74

493.11

0.50

0.69

0.78

1.13

170.01

99.88

40%

20%

5

Hindalco Industries Ltd.

Aluminium, unwrought

18545.24

19624.79

0.72

0.74

1.58

1.64

4353.7

4749.05

23%

24%

6

Binani Zinc Ltd.

Zinc, unwrought

582.69

480.66

0.86

0.85

5.73

4.69

35.51

24.06

6%

5%

7

Hindustan Zinc Ltd.

Zinc

8726.76

8509.18

0.08

0.09

0.23

0.18

6659.39

6310.12

76%

74%

8

Tinplate Co. Of India Ltd.

Tin plates, sheets & strips

462.72

407.4

0.65

0.66

1.08

0.66

72.32

47.1

16%

12%

9

Hindustan Copper Ltd.

Copper

1573.97

1657.44

0.52

0.56

1.63

1.74

393.66

346.35

25%

21%

10

Jhagadia Copper Ltd.

Refined copper & alloys, unwrought

232.33

399.07

1.01

1.00

0.17

0.31

5.3

-47.1

2%

-12%

11

National Aluminium Co. Ltd.

Aluminium, unwrought

6187.58

5394.61

0.26

0.35

0.36

0.32

3971.08

2826.58

64%

52%

27%

pAper And wood products 1

Ballarpur Industries Ltd.

Paper

1890.39

2179.68

0.48

0.49

0.41

0.48

525.66

580.27

28%

2

Rama Newsprint & Papers Ltd.

Newsprint

353.92

356.79

0.56

0.76

0.45

0.62

92.02

62

26%

17%

3

Century Plyboards (India) Ltd.

Plywood

395.36

545.57

0.73

0.73

3.74

5.22

45.36

86.09

11%

16%

4

Andhra Pradesh Paper Mills Ltd.

Paper

493.59

603.96

0.63

0.53

0.37

0.38

87.31

117.3

18%

19%

5

Hindustan Paper Corpn. Ltd.

Writing, printing paper

769.65

812.16

0.51

0.55

1.15

1.31

146.88

157.37

19%

19%

6

Tamil Nadu Newsprint & Papers Ltd.

Writing, printing paper

897.18

990.28

0.55

0.54

0.42

0.46

208.9

273.02

23%

28%

7

J K Paper Ltd.

Paper

767.01

666.53

0.44

0.49

0.43

0.41

147.98

126.05

19%

19%

8

Bharatiya Reserve Bank Note Mudran

Printing of bank notes, currency notes

1022.58

1109.86

0.66

0.79

1.23

1.59

322.96

325.96

32%

29%

9

West Coast Paper Mills Ltd.

Paper

557.58

589.18

0.52

0.56

1.29

1.45

100.94

123.78

18%

21%

10

Navneet Publications (India) Ltd.

Printed books, brochures, etc.

322.74

398.01

0.69

0.63

3.36

3.75

73.53

86.89

23%

22%

11

Mysore Paper Mills Ltd.

Newsprint

404.44

391.14

0.84

0.76

1.78

1.57

39.35

37.47

10%

10%

12

Greenply Industries Ltd.

Plywood

372.93

526.41

0.61

0.73

1.51

2.56

49.54

84.29

13%

16%

28184.99

32538.18

0.99

0.93

6.39

7.38

1629.22

2313.99

6%

7%

431.21

546.79

0.31

0.77

0.48

1.30

165.68

65.99

38%

12% 8%

petroleum products 1

Mangalore Refinery & Petrochemicals Ltd.

Petroleum products (Refineries)

2

Rain C I I Carbon (India) Ltd.

Petroleum coke

3

Chennai Petroleum Corpn. Ltd.

Petroleum products (Refineries)

24644.23

28221.48

0.96

0.93

7.25

7.88

1306.88

2173.94

5%

4

Bharat Petroleum Corpn. Ltd.

Petroleum products (Refineries)

97000.43

111223.9

0.92

0.92

7.57

8.00

4197.51

4286.97

4%

4%

5

Bharat Shell Ltd.

Lube oils & lubricants

438

510.49

0.72

0.67

6.26

6.70

27.13

91.59

6%

18%

6

Reliance Industries Ltd.

Petroleum products (Refineries)

110793.99

139758.15

0.75

0.70

1.16

1.16

20532.13

28990.11

19%

21%

7

Savita Oil Technologies Ltd.

Lube oils & lubricants

827.56

937.53

0.81

0.75

6.39

5.67

73.44

103.68

9%

11%

8

Bongaigaon Refinery & Petrochemicals

Petroleum products (Refineries)

5674.26

5988.91

0.90

0.92

10.63

7.38

328.95

488.53

6%

8%

9

Hindustan Petroleum Corpn. Ltd.

Petroleum products (Refineries)

90054.96

106209.52

0.97

0.97

6.72

6.77

3522.89

3300.54

4%

3%

10

Numaligarh Refinery Ltd.

Petroleum products (Refineries)

6988.47

7868.27

0.83

0.92

2.76

3.45

763.42

593.97

11%

8%

11

Gulf Oil Corpn. Ltd.

Lube oils & lubricants

636.67

769.44

0.63

0.57

2.57

0.22

61.09

69.53

10%

9%

12

Indian Oil Corpn. Ltd.

Petroleum products (Refineries)

221146.86

249640.63

0.88

0.90

5.14

5.37

14617.69

14534.37

7%

6%

186.9

353.39

0.71

0.66

0.77

1.30

31.68

90.96

17%

26% 17%

plAstics And polymers 1

Max India Ltd.

Biaxially oriented polypropylene

2

Cosmo Films Ltd.

Biaxially oriented polypropylene

533.41

586.16

0.69

0.70

1.72

1.91

71.91

99.05

13%

3

Ester Industries Ltd.

Polyester film

291.46

331.85

0.76

0.75

1.49

1.76

12.86

37.7

4%

11%

4

Uflex Ltd.

Plastic packaging goods

1239.03

1363.76

0.76

0.71

1.01

0.91

182.99

216.55

15%

16%

5

Supreme Petrochem Ltd.

Polystyrene

1429.16

1504.21

0.89

0.92

4.73

5.39

67.3

88.56

5%

6%

6

South Asian Petrochem Ltd.

Polyethylene terephthalate (PET)

1026.04

1042.5

0.83

0.74

2.42

2.15

107.01

128.34

10%

12%

7

Positive Packaging Inds. Ltd.

Plastic laminated sheets

334.88

338.17

0.75

0.81

2.27

2.69

41.45

41.95

12%

12%

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

70

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


large manufacturing companies

2007

Creditors Days Available (Days)

2008

2007

2008

Raw Material Holding Period (Days) 2007

2008

WIP Holding Period (Days) 2007

Finished Goods Holding Period (Days)

2008

2007

Composite Score

2008

NA

75

68.32

65.34

NA

11.36

NA

1.4

NA

4.75

9.6

21.83

23.69

34.26

21.74

24.62

35.99

23.06

26.97

2.22

1.76

11.3

9.1

15.67

53.32

37.35

94.34

94.03

18.57

17.81

2.53

1.27

12.3

34.96

27.4

97.64

104.6

39.55

40.41

38.86

28.2

5.45

0.83

12.9

25.58

27.03

59.55

58.45

56.2

58.1

62.15

61.99

3.82

4.69

15.0

0.7

0.88

101.49

58.46

94.38

86.51

1.19

2.78

7.36

9.86

17.4

24.67

20.89

81.51

85.44

94.86

112.5

16.58

16.99

23.25

22.86

18.0

24.25

22.43

100.33

125.84

81.07

140.43

15.1

19.85

4.32

1.83

18.0

9.72

10.02

132.26

97.08

99

63.71

75.56

86.31

12.19

9.5

19.7

12.38

89.58

78.05

75.54

32.84

44.65

41.59

11.24

11.38

21.1

5.73

107.34

149.79

205.83

218.18

31.05

29.52

10.06

10.52

22.9

41.06

48.93

49.8

43.73

107.02

89.88

3.87

3

11.15

10.56

12.5

53.81

51.79

52.93

68.19

80.84

89.64

0.46

1.51

2.95

10.02

12.6

44.06

48.21

52.42

63.82

95.28

77.65

2.85

2.29

27.51

23.46

15.0 16.5

21.22

23.72

90.53

82.25

88.84

75.63

5.33

8.24

5.01

10.15

48.09

65.47

115.23

107.54

197.72

171.26

0.52

1.39

16.57

11.37

16.7

44.94

34.76

98.06

102.73

163.97

162.82

4.76

4.44

0

0.22

18.5

45.1

55.05

50.02

81.78

64.14

94.27

6.05

10.45

8.83

12.33

18.5

49.64

36.78

21.88

35.71

104.61

83.95

38.01

33.87

12.15

29.8

19.2

24.16

24.15

64.25

78.79

108.01

103.19

4.67

3.11

15.94

14.89

19.3

48.38

43.15

16.77

27.69

97.97

94.12

10.36

12.22

94.08

91.41

19.8

57.71

54.77

84.87

71.32

157.5

206.82

1.05

1.37

42.73

51.99

20.3

49.24

49.56

91.26

94.82

109.53

103.28

11.48

10.42

14.36

19.27

21.7

34.01

48.76

15.78

19.23

1.55

1.78

10.53

13.44

11.5

23.25

34.37

28.34

79

60.34

6.07

0.92

1.41

18.61

13.6

13.56

13.87

31.57

30.15

26.08

26.92

3.89

5.07

16.67

19.04

15.5

5.41

5.24

35.74

41.68

16.08

20.36

3.98

3.81

22.61

19.34

16.1

33.74

33.83

47.85

55.67

44.63

45.16

2.28

2.04

30.15

33.63

16.8 17.5

12.18

13.05

60.93

65.18

24.25

29.4

8.02

6.44

14.6

12.04

71.67

73.64

93.8

113.07

63.21

61.98

5.44

4.63

15.66

15.92

17.7

13.54

16.89

27.54

47.19

28.26

33.41

3.9

5.41

16.07

19.6

19.4

32.41

37.63

18.98

27.18

3.67

4.14

20.04

22.03

20.0

45.9

63.45

11.9

13.04

5.27

5.37

27.49

23.14

20.1

80.26

76.66

99.68

62.27

59.97

55.19

5.65

7.69

21.42

19.33

21.1

10.67

9.68

43.52

46

43

45.77

6.42

6.61

19.57

18.28

21.3

56.28

54.1

415.74

43.55

32.32

26.94

5.3

6.49

0.83

1.19

15.9

50.89

52.25

26.4

29.3

49.65

48.82

1.98

1.61

11.45

7.71

19.7

46.92

49.73

30.71

33.77

26.21

29.45

6.14

5.75

8.69

6.42

21.4

59.18

67.44

62.9

71.9

14.75

21.08

9.1

13.77

2.54

2.86

21.7

21.81

24.64

40.78

31.97

18.36

11.08

1.16

0.96

12.97

12.69

22.2

56.87

42.32

94.05

75.37

22.33

33.66

0.55

0.6

19.43

17.43

25.0

63.83

67.74

34.55

47.32

54.65

56.03

7.54

8.51

3.91

6.15

25.9

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

PLASTIcS

5.56 14.37

& POlyMErs

5.77 11.02

PETrOlEuM

16.87

4.63

PrODuCTs

13.54

PAPer AND wooD ProDucTS

19.2 3.99

NoN ferrouS

Debtors Days Available (Days)

METAls

WORKING CAPITAL CyCLE

Source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

71


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDITA (Rs. Crore)

PBDITA/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

8

Paper Products Ltd.

Plastic packaging goods

470.85

537.42

0.75

0.80

1.80

2.00

79.33

65.48

17%

12%

9

Nilkamal Ltd.

Plastic Products

467.86

806.79

0.85

0.78

3.62

2.76

34.04

131.31

7%

16%

10

Ineos A B S (India) Ltd.

Acrylonitrile butadiene styrene

493.72

560.65

0.80

0.80

2.53

2.72

55.15

67.73

11%

12%

11

Essel Propack Ltd.

Plastic packaging goods

304.18

350.65

0.52

0.51

0.96

1.07

103.17

114.87

34%

33%

12

Haldia Petrochemicals Ltd.

Polyethylene

7246.83

7513.4

0.72

0.80

1.17

1.28

1466.71

972

20%

13%

13

Time Technoplast Ltd.

Reservoirs, tanks, etc.

352.42

466.52

0.74

0.74

1.71

1.67

70.32

105.98

20%

23%

14

Jain Irrigation Systems Ltd.

Tubes, pipes & hoses of poly vinyl

1227.57

1688.71

0.69

0.72

1.43

1.63

210.72

353.76

17%

21%

15

Chemplast Sanmar Ltd.

Poly vinyl chloride

610.79

657.69

0.74

0.80

0.61

0.45

88.72

112.01

15%

17%

16

V I P Industries Ltd.

Moulded luggage

429.78

554.09

0.65

0.59

3.26

3.62

44.44

54.59

10%

10%

17

Finolex Industries Ltd.

Amino/phenolic resins & polyurethanes

1048.85

1421.12

0.76

0.80

1.21

1.48

167.21

178.7

16%

13%

18

D C W Ltd.

Poly vinyl chloride

662.24

750.77

0.68

0.80

0.90

0.85

67.35

94.7

10%

13%

0.19

0.86

0.32

2.08

22.97

24.8

9%

7%

textiles 1

Krishna Lifestyle Technologies Ltd.

Cloth processed

264.62

365.48

2

J B F Industries Ltd.

Partially oriented yarn (POy)

1488.88

2160.02

0.89

0.83

1.99

2.32

185.63

256.01

12%

12%

3

Modern Syntex (India) Ltd.

Polyester filament yarn (PFY)

519.19

512.97

0.86

0.87

1.95

2.21

26.93

78.38

5%

15%

4

Eskay K'N'It (India) Ltd.

Cloth (Fabrics)

479.71

652

0.82

0.84

1.62

1.55

63.3

98.17

13%

15%

5

Filatex India Ltd.

Polyester filament yarn (PFY)

299.01

345.91

0.87

0.88

2.86

3.51

15.1

27.38

5%

8%

6

Jaybharat Textiles & Real Estate Ltd.

Sarees

249.74

424.29

0.70

0.77

0.92

1.19

51.2

65.21

21%

15%

7

Mafatlal Industries Ltd.

Cloth (Fabrics)

157.09

396.1

0.79

0.45

2.64

4.69

-18.49

66.89

-12%

17%

8

Garden Silk Mills Ltd.

Polyester filament yarn (PFY)

963.88

1405.1

0.77

0.84

0.99

1.63

130.69

163.54

14%

12%

9

K S L & Industries Ltd.

Cloth (Fabrics)

517.1

648.25

0.73

0.78

0.65

0.58

97.78

122.36

19%

19%

10

R S W M Ltd.

Blended yarn

1030.02

1281.51

0.70

0.78

0.86

1.10

138.22

151.24

13%

12%

11

Nagreeka Exports Ltd.

Cotton yarn

264.94

334.11

0.83

0.89

2.30

3.20

21.34

24.69

8%

7%

12

Shri Lakshmi Cotsyn Ltd.

Man-made fabrics

362.36

606.43

0.92

0.91

1.45

1.36

28.97

86.94

8%

14%

13

Century Enka Ltd.

Polyester filament yarn (PFY)

983.38

1190.76

0.87

0.81

1.13

1.35

104.89

116.8

11%

10%

14

Bombay Dyeing & Mfg. Co. Ltd.

Cloth (Fabrics)

508.88

983.31

0.61

0.72

0.36

0.57

47.71

115.72

9%

12%

15

S R F Ltd.

Nylon tyre cord fabric

1807.32

1627.13

0.60

0.68

0.93

0.90

546.42

328.47

30%

20%

16

Krishna Knitwear Technology Ltd.

Knitted fabrics

1363.47

1494.58

0.89

0.86

1.48

1.59

129.37

144.56

9%

10%

17

S E L Manufacturing Co. Ltd.

Cloth (Fabrics)

201.64

392.32

0.84

0.77

1.43

1.32

40.25

77.56

20%

20%

18

Nova Petrochemicals Ltd.

Partially oriented yarn (POy)

268.05

326.73

0.84

0.93

1.38

2.09

10.55

3.53

4%

1%

19

K P R Mill Ltd.

Cotton yarn

498.19

611.99

0.71

0.71

0.53

0.52

134.02

153.78

27%

25%

20

Vardhman Polytex Ltd.

Cotton yarn

391.26

381.39

0.73

0.83

1.31

1.15

59.56

47.88

15%

13%

21

Chiripal Industries Ltd.

Cloth (Fabrics)

379.88

459.68

0.81

0.84

1.39

1.71

55.71

52.89

15%

12%

22

Sudhan Spinning Mills Pvt. Ltd.

Cotton yarn

242.17

302.66

0.85

0.89

6.70

12.14

30.78

21.68

13%

7%

23

T T Ltd.

Cotton & blended yarn

598.03

650.28

0.85

0.88

4.01

4.01

27.69

26.14

5%

4%

24

Spentex Industries Ltd.

Cotton yarn

779.96

796.08

0.82

0.85

1.52

1.63

94.99

63.66

12%

8%

25

Siyaram Silk Mills Ltd.

Cloth (Fabrics)

525

488.41

0.50

0.70

1.49

1.65

45.92

41.78

9%

9%

26

Kurlon Ltd.

Rubberised coir products & bonded

268.64

321.69

0.67

0.63

4.94

3.73

20.08

19.37

7%

6%

27

Sangam (India) Ltd.

Cotton & blended yarn

552.5

699.86

0.77

0.82

0.72

0.89

95.63

93.8

17%

13%

28

Indo Rama Synthetics (India) Ltd.

Synthetic filament yarn other than

2036.5

2630.31

1.01

0.89

1.18

1.32

180.51

250.98

9%

10%

29

Welspun India Ltd.

Terry towelling & similar woven terry

1046.83

1328.81

0.55

0.59

0.45

0.52

260.35

275.48

25%

21%

30

Loyal Textile Mills Ltd.

Cloth (Fabrics)

374.33

412.91

0.65

0.67

0.84

0.84

63.71

68.27

17%

17%

31

S Kumars Nationwide Ltd.

Cloth (Fabrics)

1234.85

1612.32

0.81

0.63

1.73

1.21

249.72

346.9

20%

22%

32

Rupa & Co. Ltd.

Apparels - knitted / crocheted

300.79

351.6

0.41

0.50

2.59

3.48

24.61

29.16

8%

8%

33

Precot Meridian Ltd.

Cotton yarn

339.6

371.55

0.68

0.71

1.02

1.09

58.25

44.36

17%

12%

34

S T L Global Ltd.

Cloth processed

310.92

342.69

0.86

0.89

2.90

2.98

40.03

30.53

13%

9%

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

72

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


large manufacturing companies

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

56.85

58.5

58.92

65.85

35.9

32.49

8.48

8.91

7.8

2008 8.75

26.0

41.91

40.44

25.76

27.96

30.44

35.51

6.13

8.51

23.08

30.14

26.2

48.47

51.41

111.84

92.43

37.41

40.11

3.69

3.24

7.98

8.34

26.9

44.99

57.88

61.36

50.79

67.25

66.08

22.84

25.98

3.93

2.4

27.0

10.05

10.46

38.59

37.7

39.58

41.32

1.51

0.82

10.15

9.12

27.1

73.9

73.95

35.41

28.2

54.19

52.4

19.23

16.85

27.59

22.07

27.7

104.28

107.97

140.75

124.24

65.45

73.99

0.09

0.12

26.02

34.79

28.4

27.84

25.23

69.32

70.78

60.67

52.51

1.06

1.1

5.81

6.88

28.6

54.34

62.9

58.81

53.19

34.8

37.84

8.78

9.86

30.66

34.74

29.0

10.02

12.84

40.11

30.43

76.35

52.18

4.29

3.62

15.76

13.1

29.6

29.03

28.52

92.24

94.66

60.01

56.66

0.57

0.44

19.03

13.68

33.4

168.98

46.67

27.52

8.86

130.67

9.71

10.58

3.89

73.16

6

43.8

23.86

26.55

15.89

34.38

8.98

9.07

1.6

1.7

5.93

5.84

45.8

25.58

23.89

27.75

29.85

9.95

10.96

3.13

3.47

6.27

5.45

46.0

113.67

90.75

6.35

6.25

53.99

34.62

8.79

8.98

12.38

17.36

52.0

12.78

13.83

19

21.18

12.8

13.41

1.96

1.56

12.39

8.59

52.9

36.34

25.26

57.02

26.29

23.74

15.52

13.88

5.98

11.53

8.86

53.2

223.1

80.53

610.26

320.95

15.76

8.3

45.78

22.31

9.94

6.38

53.9

13.64

19.07

11.71

25.36

19.98

1.04

0.83

11.24

13.45

56.5

67.93

10.78

7.79

45.35

36.7

9.66

11.27

13.85

14.21

58.3

37.3

35.19

20.78

17.14

57.89

47.62

12.82

12.64

11.22

12.88

69.2

47.99

36.39

12.89

15.44

52.51

60.31

7.32

5.78

6.47

13.18

69.6

61.76

61.99

15.45

23.98

28.5

22.72

14.15

16.21

21.86

20.62

71.3

25.42

29.06

16.36

15.28

19.73

28.16

15.04

13.77

21.57

18.5

73.0

167.35

107.32

175.6

96.37

73.64

39

40.86

14.92

14.52

12.13

73.4

30.82

44.95

57.97

74.08

34.58

43.77

15.72

18.34

9.25

9.41

73.9

83.11

80.68

4.06

4.88

62.2

56.1

12.44

13.23

18.12

21.28

74.6

102.53

106.68

47.03

82.14

57.35

51.2

10.85

7.72

45.81

32.11

75.6

44.86

42.29

92.5

84.94

26.56

16.49

16.08

15.72

3.72

3.5

76.0

NA

47.24

133.66

44.93

NA

156.54

NA

6.31

NA

9.85

78.2

32.73

36.97

20.24

24.85

133.51

142.94

4.94

4.52

7.71

12.15

78.3

50.67

49.59

71.08

61.87

22.61

31.46

19.77

21.33

9.09

15.52

78.8

4.07

2.03

17.49

15.22

188.59

176.03

0.81

0.91

4.52

8.37

80.2

15.66

12.68

5.42

7.99

62.06

109.66

3.16

6.22

7.26

5.26

80.2

21.92

36.35

28.7

65.42

72.21

60.35

3.31

5.14

6.33

15.44

83.0

80.3

99.1

43.85

45.84

64.07

55.12

22.43

18.13

17.58

32.24

84.9

41.08

47.19

63.88

70.63

33.38

36.96

7.33

9.32

51.76

41.6

85.5

65.4

70.33

26.42

33.63

49.99

55.29

22.21

21.33

16.67

23.05

88.5

13.98

13.66

95.5

86.67

13.47

12.67

3.34

3.55

20.64

30.65

89.7 89.9

23.09

23.14

29.6

42.45

66.06

50.91

49.77

47.34

9.1

13.32

51.33

58.56

34.9

46.14

68.83

58.5

25.52

28.38

23.71

25.09

92.1

163.91

139.02

49.02

35.65

52.4

60.76

45.22

39.19

68.66

54.68

93.6

55.61

54.02

59.89

79.18

76.12

71.28

11.23

7.69

60.52

50.59

93.7

16.18

22.29

32.86

26.68

101.61

98.35

17.21

17.82

10.31

13.19

94.1

77.11

96.62

44.24

40.63

43.46

49.26

37.9

41.93

24.92

30.84

94.4

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

TexTILeS

13.19 70.15

PLASTIcS &

Debtors Days Available (Days)

POlyMErs

WORKING CAPITAL CyCLE

Source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

73


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDITA (Rs. Crore)

PBDITA/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

35

Provogue (India) Ltd.

Apparels (Readymade garment)

235.82

338.22

0.76

0.77

4.56

5.34

32.61

53.86

14%

16%

36

Nahar Spinning Mills Ltd.

Cotton & blended yarn

914.88

920.61

0.66

0.73

0.94

0.94

183.89

125.54

20%

14%

37

Malwa Cotton Spg. Mills Ltd.

Cotton yarn

421.01

449.2

0.77

0.83

3.95

4.84

41.67

31.46

10%

7%

38

Indian Acrylics Ltd.

Acrylic fibre

420.04

436.89

0.90

0.82

2.04

2.07

26.38

29.07

6%

7% 14%

39

Garware-Wall Ropes Ltd.

Twine, cordage, rope & cables

336.75

398.7

0.51

0.59

1.63

1.83

43.64

54.14

13%

40

Raymond Ltd.

Woven fabrics of wool

1401.75

1464.27

0.52

0.55

0.95

1.09

363.65

251.46

26%

17%

41

Bombay Rayon Fashions Ltd.

Cloth (Fabrics)

494.72

943.37

0.79

0.82

1.11

1.14

99

229.27

20%

24%

42

Pearl Global Ltd.

Apparels (Readymade garment)

205.93

323.97

0.69

0.70

1.51

2.24

18.04

-0.17

9%

0%

43

Pasupati Acrylon Ltd.

Acrylic fibre

319.13

338.26

0.93

0.85

2.18

2.23

12.26

12.98

4%

4%

44

Banswara Syntex Ltd.

Synthetic filament yarn other than

393.78

438.2

0.68

0.73

1.09

1.01

56.36

54.5

14%

12%

45

Alps Industries Ltd.

Other textile articles

431.77

633.87

0.81

0.88

0.98

1.02

70.87

67.78

16%

11%

46

Gokaldas Exports Ltd.

Apparels (Readymade garment)

1036.9

1077.4

0.61

0.60

2.59

2.45

124.08

113.96

12%

11%

47

Abhishek Industries Ltd.

Terry towelling & similar woven terry

835.14

1085.38

0.64

0.68

0.50

0.52

188.42

209.43

23%

19%

48

Vardhman Textiles Ltd.

Cotton yarn

2112.83

2328.5

0.65

0.70

0.80

0.70

381.21

450.62

18%

19%

49

Sutlej Textiles & Inds. Ltd.

Synthetic filament yarn other than

723.85

826.38

0.73

0.81

1.10

1.12

109.35

117.9

15%

14%

50

N R C Ltd.

Man-made filaments

430.83

324.97

0.84

0.96

0.97

0.87

6.12

-115.53

1%

-36%

51

S P L Industries (Shivalik Prints) Ltd.

Apparels (Readymade garment)

249.44

331.82

0.76

0.69

2.33

2.94

27.75

20.63

11%

6%

52

Maral Overseas Ltd.

Cotton yarn

289.71

319.4

0.58

0.65

0.67

0.78

4.95

6.86

2%

2%

53

Orient Craft Ltd.

Apparels (Readymade garment)

784.83

747.06

0.54

0.57

2.09

1.93

101.89

76.47

13%

10%

54

Suryalakshmi Cotton Mills Ltd.

Cotton & blended yarn

235.94

352.5

0.82

0.79

0.73

1.06

31.51

39.26

13%

11%

55

Alok Industries Ltd.

Cloth (Fabrics)

1944.08

2443.4

0.65

0.60

0.49

0.38

534.86

825.71

28%

34%

56

Ginni Filaments Ltd.

Cotton yarn

225.73

307.4

0.79

0.82

0.51

0.67

32.79

10.11

15%

3%

57

Super Spinning Mills Ltd.

Cotton & blended yarn

405.3

398.9

0.62

0.68

1.12

1.28

63.27

50.29

16%

13%

58

Celebrity Fashions Ltd.

Apparels - knitted / crocheted

333.49

335.65

0.82

0.75

1.78

1.68

15.96

8.13

5%

2%

59

Futura Polyesters Ltd.

Polyester staple fibre (PSF)

520.75

420.78

0.71

0.77

1.79

0.89

51.77

57.41

10%

14%

60

Oswal Woollen Mills Ltd.

Wool & woollen textiles

322.13

445.03

0.70

0.66

1.24

1.45

47.42

74.16

15%

17%

61

Raymond Apparel Ltd.

Apparels (Readymade garment)

256.47

351.23

0.49

0.63

3.33

4.42

24.04

30.57

9%

9%

62

Eastern Silk Inds. Ltd.

Silk & silk textiles

465.67

491.88

0.61

0.65

1.43

1.72

100.23

101.13

22%

21%

63

Arvind Ltd.

Cloth (Fabrics)

1870.16

2327.56

0.52

0.58

0.46

0.62

428.88

321.22

23%

14%

64

Koutons Retail India Ltd.

Apparels (Readymade garment)

401.17

789.75

1.05

0.74

8.40

8.06

67.63

147.77

17%

19%

65

J C T Ltd.

Cloth (Fabrics)

524.32

516.15

0.77

0.68

0.87

0.67

51.86

57.73

10%

11%

tyres, tubes And rubber products 1

Goodyear India Ltd.

Tyres

832.89

894.97

0.83

0.82

6.20

6.33

81.67

80.7

10%

9%

2

Ralson (India) Ltd.

Cycle tyres

354.21

412.78

0.86

0.83

7.20

7.47

13.3

23.84

4%

6%

3

T V S Srichakra Ltd.

Tyres

416.34

459.56

0.81

0.76

5.48

5.47

26.26

33.85

6%

7%

4

Apollo Tyres Ltd.

Tyres

3305.64

3709.24

0.81

0.78

2.61

2.70

329.96

476.68

10%

13%

5

Balkrishna Industries Ltd.

Tyres

877.62

1001.81

0.62

0.66

1.15

1.19

187.09

234.11

21%

23%

6

M R F Ltd.

Tyres

3734.52

4410.75

0.79

0.80

4.13

3.91

295.84

466.64

8%

11%

7

J K Tyre & Inds. Ltd.

Tyres

2632.63

2829.57

0.88

0.85

1.86

1.97

177.94

274.83

7%

10%

8

Ceat Ltd.

Tyres

2138.48

2335.32

0.78

0.76

2.34

2.25

152.73

287.84

7%

12%

9

Metro Tyres Ltd.

Tyres & tubes

376.92

401.73

0.79

0.77

8.18

8.63

24.88

27.61

7%

7%

10

Falcon Tyres Ltd.

Tyres

280.45

449.04

0.84

0.83

1.44

1.98

12.54

21.19

4%

5%

19%

wires And cAbles 1

Deepak Cables (India) Ltd.

Cables & other conductors

699.7

721.79

0.77

0.70

23.61

14.65

108.02

139.79

15%

2

R P G Cables Ltd.

Cables & other conductors

182.69

303.02

0.87

0.91

3.64

6.61

21.99

24.1

12%

8%

3

R R Kabel Ltd.

Cables & other conductors

320.8

402.32

0.96

0.91

7.49

7.64

20.93

40.97

7%

10%

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

74

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large manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007

2008

2007

2008

2007

2008

2007

2008

2007

63.06

67.21

61.55

71.57

63.91

78.59

13.14

9

85.77

Composite Score

2008 89.25

95.9 96.2

82.77

28.16

32.03

136.03

203.24

16.53

12.83

24.02

30.14

98.3

72.02

78.28

34.88

35.58

19.96

20.98

55.48

60.05

96.4

37.31

38.71

86.31

135.88

46.36

77.33

3.64

4.62

28.83

20.13

96.5 96.7

79.92

91.81

86.8

118.64

61.92

52.43

26.16

27.75

44.34

40.23

71.71

75.53

83.03

72.06

67.59

45.59

46.39

51.21

37.7

39.38

97.8

50.9

59.81

54.05

31.76

62.46

58.77

30.85

33.34

33.24

35.56

98.0

32.62

34.5

48.08

52.46

125.58

104.24

5.15

5.36

44.11

33.08

98.0

16.25

15.82

103.6

99.46

71.12

75.81

4.07

3.54

18.4

19.66

100.3

26.49

27.47

47.73

53.71

58.97

55.24

10.47

10.6

35.64

41.26

100.3 100.9

55.92

64.2

37.38

22.16

101.3

92.81

49.52

47.28

11.29

13.84

23.84

27.52

25.47

31.23

142.62

173.01

29.02

31.9

12.34

15.52

101.3

14.45

11.78

44.89

67.09

124.59

91.78

21.76

15.78

19.82

17.64

103.5 103.6

40.4

41

55.07

43.21

139.33

147.8

12.92

14.29

29.38

32.51

30.92

33.63

28.26

34.6

57.8

66.9

15.17

16.38

30.38

35.08

103.9

27.26

32.43

106.46

145.1

45.02

45.72

12.43

9

29.56

19.35

104.6

60.22

50.08

66.87

64.9

57.3

35.81

134.41

111.9

47.3

54.14

105.6

25.73

28.82

44.59

61.82

144.77

69.73

17.82

16.47

33.63

22.45

106.3

58.49

60.41

54.02

67.1

108.7

148.87

62.11

88.23

16.45

19.26

106.5 106.7

48.24

41.31

70.38

64.94

70.04

62.71

15.76

22.19

34.09

29.25

86.32

89.96

55.63

84.5

47.65

80.94

47.47

66.19

26.64

25.8

107.4

36.76

33.44

58.84

70.9

151.94

65.5

12.91

11.19

19.3

26.26

109.8

59.05

68.37

120.25

100.18

28.83

24.45

19.05

23.32

111.7

59.5

91.72

115.12

162.09

5.78

6.78

27.63

37.94

111.9

23.01

33.66

76.6

122.52

47.73

71.15

16.39

18.17

18.21

24.16

112.3

50.9

45.37

138.92

83.99

150.22

130.78

37.4

29.85

38.33

33.45

115.0

38.1

40.12

50.28

64.72

110.29

107.53

22.96

26.17

55

58.71

115.2

101.57

103.57

69.61

88.23

231.38

233.27

37.57

42.79

57.85

55.96

118.1

57.56

39.85

91.86

58.28

139.22

108.22

43

43.67

28.76

37.13

120.1

13.03

12.67

85.64

69.24

63.61

59.99

145.45

126.19

96.64

124.14

122.1

27.09

27.64

100.88

99.11

61.51

66.52

28.08

32.13

29.75

33.33

124.8

40.25

43.58

68.03

74.6

31.49

30.73

0.97

0.84

9.52

10.57

9.6

60.99

58.74

59.66

63.15

38.38

33.77

3.01

2.79

15.58

16.4

13.0

51.32

54.86

37.64

40.2

37.97

66.19

3.87

5.4

11.83

12.1

13.6

18.68

15.78

54.23

53.32

34.33

32.72

4.01

3.43

19.34

22.05

13.8

50.55

66.27

38.29

46.08

54.86

69.65

8.35

8.97

12.47

11.39

14.1

42.96

39.4

56.97

55.42

27.98

28.39

9.9

9.36

24.41

23.02

16.4

54.74

51.95

93.91

93.34

28.56

29.45

3.28

4.13

16.7

28.97

16.5

39.92

40.06

97.12

100.39

25.32

39.41

4.78

4.88

12.55

14.16

16.7

66.72

71.41

78.96

78.47

47.52

42.37

4.66

4.83

39.97

48.65

16.8

34.55

23.34

55.44

51.96

38.54

34.8

4.34

7.12

17.68

13.67

18.0

129.73

223.38

99.85

126.7

12.3

13.07

0.71

3.72

3.13

3.2

8.7

63.57

59.54

150.98

74.62

7.47

7.6

5.12

5.23

2.37

3.01

12.3

31.22

37.8

8.63

8.87

4.39

4.27

4.26

9.7

10.23

14.52

14.0

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

TYreS,

24.81 62.67

TuBeS & ruBBer ProeucTS

19.26 41.58

TexTILeS

55.14 102.98

Source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

75


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDITA (Rs. Crore)

PBDITA/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

4

Nicco Corpn. Ltd.

Jelly filled cables

382.9

434.35

0.69

0.69

2.05

2.48

36.88

38.8

10%

9%

5

Precision Wires India Ltd.

Copper winding wires

586.79

574.26

0.89

0.91

4.30

3.97

38.26

40

7%

7%

6

Sterlite Technologies Ltd.

Jelly filled cables

1206.9

1698.15

0.73

0.78

1.82

2.37

129.09

232.04

11%

14%

7

Diamond Power Infrastructure Ltd.

Cables & other conductors

122.04

442.44

1.01

0.90

5.40

6.47

21.18

66.11

17%

15%

8

Finolex Cables Ltd.

Cables & other conductors

1052.09

1409.89

0.74

0.83

2.54

3.09

138.43

166.03

13%

12%

9

Havells India Ltd.

Wires & cables, insulated

1546.8

2060.91

0.73

0.78

4.69

4.19

146.85

201.63

9%

10%

10

Kei Industries Ltd.

Cables & other conductors

601.28

877.81

0.91

0.89

3.89

3.37

83.89

108.07

14%

12%

11

Universal Cables Ltd.

Cables & other conductors

382.4

495.08

0.83

0.87

2.53

2.97

48.74

55.11

13%

11%

12

Paramount Communications Ltd.

Jelly filled cables

311.17

446.28

0.96

1.03

3.69

2.91

71.28

76.79

23%

17%

12

Paramount Communications Ltd.

Jelly filled cables

311.17

446.28

0.96

1.03

3.69

2.91

71.28

76.79

23%

17%

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes Source: CMIE Prowess database

WILL UNION BUDgET 2010-11

Overall the budget is well balanced and responsible. Various projects and schemes announced by the government will see increased role of Information Technology as an enabler towards more inclusive growth. The Union Finance Minister has also given us a clear direction on the roadmap for GST with a definite date for implementation. Deduction on In-House R&D has been increased to 200 from 150 per cent, which will definitely help put back focus on R&D. AJAI CHOWDHRY CEO & CHAIRMAN HCL INFOSYSTEMS

There is good focus on the Banking sector. The budget is also a step in strengthening the Manufacturing sector. Both banking and auto stocks have led the rally as the stock market gave a thumbs up to the Union Budget 2010-11. The allocation for the Power sector has also increased by more than double. The National clear energy fund for funding research and innovative projects in clean energy technologies is a good initiative too. Overall, to me, the budget looks good.

Increased thrust in key areas like primary education, health, infrastructure, rural development and financial inclusion would fuel broad-based growth and development. Enhanced focus on SEZs to drive growth and employment and clarity on the tax regime is welcome. This would aid recovery for the IT industry. Social transformation and technology enabled governance will gain momentum and this is good news for the country. S MAHALINgAM CFO, TCS

pADMAJA KRISHNAN DIRECTOR, SALES & MARKETINg, CSC INDIA

PBIDTA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. Latest year: 1st April 2007 to 31st March 2008.

76

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Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

80.99

93.32

102.5

124.69

9.02

11.06

13.08

10.98

1.66

1.24

14.1

50.92

60.01

60.09

63.32

8.55

13.59

5.77

8.51

7.99

7.88

15.2

87.14

102.19

62.87

68.28

19.04

24.36

6.59

9.14

11.13

10.45

15.7

108.49

49.02

16.75

11.68

32.85

16.51

88.46

21.96

47.66

24.59

18.0

24.07

21.55

34.53

40.48

21.28

16.16

26.52

21.59

31.9

23.58

18.5

17.63

8.19

57.76

73.86

23.69

26.07

6.63

5.66

31.96

39.87

21.3

66.86

80.41

107.4

94.39

18.52

17.92

45.04

43.29

28.26

32.71

22.8

46.16

46.37

44.96

51.37

35.61

34.98

30.89

26.01

26.72

32

23.8

71.39

83.47

64.55

76.88

38.03

29.84

44.75

61.23

38.15

56.54

26.2

71.39

83.47

64.55

76.88

38.03

29.84

44.75

61.23

38.15

56.54

26.2

wIreS

WORKING CAPITAL CyCLE

& cABLeS

1

large manufacturing companies

Disclaimer: while every care has been taken to ensure accuracy in compiling this data, neither the publisher nor the editor will be responsible for any omissions or errors, or be held responsible for actions taken by any person (s) in reliance upon the data herein. Errors, omissions and mistakes may be brought to the attention of the editor for rectification in future issues of the magazine.

BOOST Up THE INDUSTRY?

The Union Budget 2010-11 has been framed with Focus on ‘Aam Aadami’ (Comman nan). The major issue before the Finance Minister was the rising food prices and continuance of economic stimulus packages. I believe that this will strive to achieve a balance between substance growth-paring deficit and controlling inflations at least for the inflationary expectations. Our FM has focused on investments required for boosting agricultural as well as important Agri-Supply Chain productivity.

I would term Union Budget 2010-11 as a perfect balancing act that seeks to achieve fiscal consolidation, while not losing sight of the growth momentum and the growth engines. It’s a fit case of prudent economics by the Finance Minister. He has stuck to the UPA government’s ‘Inclusive Growth’ theme by continuing its focus on the Aam Aadmi and doling out more money for rural India, thereby giving the economy that much-needed tailwind to surge ahead. SUNIL DUggAL CEO, DABUR INDIA

pROF. J D AgARWAL CHAIRMAN & pROFESSOR OF FINANCE, INDIAN INSTITUTE OF FINANCE

DR. RAM BAJAJ CONOMIST, FINANCE MANAgEMENT gURU

Net Sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

The Union Budget 2010-11 presented by Finance Minister has focused on growth and removing administrative weaknesses with a focus on Social & Economic development. The budget is likely to be growth oriented but inflationary. Stock markets may react adversely. Re-adjustment of tax will provide relief to the individual tax payers. However, the success of budget will depend upon effective implementation of budget proposals.

Source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

77


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore) 2007

2008

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

2007

2008

2007

2008

PBDIT (Rs. Crore) 2007

2008

PBDIT/Net Sales 2007

2008

Auto AncillAries 1

Esvee Precision Components Ltd.

Automobile ancillaries, nec

47.68

51.84

0.76

0.72

3.58

3.71

5.01

5.36

11%

10%

2

India Nippon Electricals Ltd.

Flywheel magnetos

147.28

126.89

0.76

0.71

5.17

4.15

25.21

20.85

17%

16%

3

Bharat Seats Ltd.

Auto seating systems

176.39

199.96

0.91

0.91

8.37

9.48

7.19

7.76

4%

4% 10%

4

Munjal Auto Inds. Ltd.

Automobile ancillaries, nec

245.05

218.16

0.74

0.76

4.13

3.77

32.8

20.83

13%

5

High Technology Transmission Systems (India)

Clutch assembly

147.19

136.85

0.72

0.76

2.88

2.82

18.66

16.02

13%

12%

6

Sundaram Brake Linings Ltd.

Brake linings

187.63

187.43

0.65

0.66

1.64

1.65

29.09

19.49

16%

10% 15%

7

Lumax D K Auto Inds. Ltd.

Auto head lights

56.07

114.22

0.84

0.81

1.41

2.80

6.87

17.52

12%

8

Bhagwati Autocast Ltd.

Automobile ancillaries

49.33

49.04

0.70

0.71

5.47

5.56

4

3.17

8%

6%

9

Harita Seating Systems Ltd.

Auto seating systems

154.9

192.42

0.81

0.79

2.85

3.48

13.59

17.76

9%

9%

10

Precision Camshafts Ltd.

Automobile ancillaries

41.01

103.12

0.57

0.60

0.92

2.43

8.07

17.97

20%

17%

11

Suprajit Engineering Ltd.

Automobile equipment

132.68

138.22

0.77

0.81

2.44

2.69

24.83

18.22

19%

13%

12

India Forge & Drop Stampings Ltd.

Automobile ancillaries

98.99

104.52

0.72

0.75

6.99

7.67

3.55

3.19

4%

3%

13

Z F Steering Gear (India) Ltd.

Steering gears

222.26

228.53

0.67

0.69

4.05

4.28

50.68

50.22

23%

22%

14

Atlas Automotive Components Ltd.

Auto castings

42.77

54.49

0.69

0.71

1.90

2.47

3.37

5.31

8%

10%

15

Vaid Elastomer Processors Ltd.

Automobile ancillaries

39.99

37.13

0.64

0.64

0.98

0.91

5.2

4.54

13%

12%

16

Swaraj Automotives Ltd.

Auto seating systems

56.29

67.22

0.77

0.77

5.57

6.64

7.54

9.24

13%

14%

17

Caparo Maruti Ltd.

Auto sheet metals parts

156.74

157.44

0.80

0.81

1.93

1.98

20.63

21.74

13%

14%

18

Hindustan Hardy Spicer Ltd.

Propeller shafts

30.69

33.15

0.75

0.74

5.31

5.66

2.28

2.49

7%

8%

19

Setco Automotive Ltd.

Clutch plates/discs

124.83

141.34

0.69

0.68

5.10

5.72

23.06

24.75

18%

18%

20

Menon Pistons Ltd.

Pistons

84.03

101.44

0.57

0.61

2.82

3.64

10.8

12.59

13%

12%

21

K R Rubberite Ltd.

Automobile ancillaries

24.25

33.73

0.79

0.82

1.94

2.78

1.73

2.36

7%

7%

22

Standard Radiators Pvt. Ltd.

Radiators

38.16

42.17

0.75

0.78

5.56

6.33

4.37

3.8

11%

9%

23

Auto Ignition Ltd.

Starter motors

145.42

135.64

0.74

0.70

4.12

3.64

12.2

16.48

8%

12%

24

Menon & Menon Ltd.

Auto castings

67.81

92.04

0.69

0.65

1.67

2.13

10

12.42

15%

13%

25

Mahindra Sona Ltd.

Automobile ancillaries

156.07

144.22

0.64

0.72

6.11

6.39

27.32

19.59

18%

14%

26

Reil Electricals India Ltd.

Starter motors

32.78

33.19

0.74

0.70

3.95

3.79

2.52

3.36

8%

10%

27

Minda Corporation Ltd.

Automobile locks

223.22

183.95

0.75

0.72

2.60

2.06

18.96

21.97

8%

12%

28

Deepak Industries Ltd.

Gears including crown wheels

181.12

155.91

0.68

0.69

7.97

7.04

12.53

12.84

7%

8%

29

Jay Ushin Ltd.

Automobile locks

155.45

240.22

0.80

0.82

2.84

4.48

7.54

13.17

5%

5%

30

Sumi Motherson Innovative Engg. Ltd.

Auto plastic moulded components

115.93

137.26

0.63

0.59

1.21

1.34

22.56

34.95

19%

25% 5%

31

Amalgamations Repco Ltd.

Drive transmission & steering parts

63.02

67.94

0.77

0.75

5.42

5.70

3.49

3.35

6%

32

G S Auto International Ltd.

Other Automobile ancillaries, nec

72.43

81.48

0.70

0.67

6.22

6.78

3.46

5.09

5%

6%

33

Amtek Siccardi (India) Ltd.

Automobile ancillaries

183.13

267.33

0.76

0.74

1.57

2.22

31.97

57.3

17%

21%

34

Canara Workshops Ltd.

Leaf springs (Automotive)

18.97

23.25

0.74

0.70

18.01

20.76

1.82

1.34

10%

6%

35

Rasandik Auto Components Pvt. Ltd.

Automobile ancillaries

24.07

11.32

0.76

0.75

1.86

0.86

0.57

0.91

2%

8%

36

Autoline Industries Ltd.

Automobile ancillaries, nec

163.23

239.69

0.79

0.78

1.47

2.14

25.24

38.77

15%

16%

37

Shivam Autotech Ltd.

Automobile ancillaries

129.89

124.29

0.43

0.41

0.49

0.45

37.71

32.7

29%

26%

38

Hero Motors Ltd.

Automobile ancillaries

137.67

241.35

0.81

0.89

0.51

0.99

13.22

35.44

10%

15%

39

Sona Okegawa Precision Forgings Ltd.

Gears including crown wheels

113.33

138.13

0.47

0.50

1.17

1.53

23.74

12.54

21%

9% 5%

40

T C Springs Ltd.

Leaf springs (Automotive)

48.23

48.76

0.73

0.75

2.86

2.97

3.91

2.34

8%

41

X L O India Ltd.

Steering gears

30.67

30.55

0.83

0.82

13.12

12.90

1.4

1.76

5%

6%

42

Sona Somic Lemforder Components Ltd.

Drive transmission & steering parts

103.27

97.14

0.74

0.78

2.42

2.40

12.35

9.73

12%

10%

43

Deltronix India Ltd.

Automobile ancillaries

23.96

28.43

0.64

0.65

0.95

1.13

4.55

5.79

19%

20%

44

Dynamatic Technologies Ltd.

Hydraulic pumps

115.01

281.64

0.66

0.71

1.26

3.35

23.19

52.29

20%

19%

45

Allied Nippon Ltd.

Brake linings

142.82

147.04

0.71

0.74

2.99

3.25

20.64

15.5

14%

11%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

78

february 28, 2010 | industry 2.0

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days) 2007

Creditors Days Available (Days)

2008

2007

Raw Material Holding Period (Days)

WIP Holding Period (Days)

2008

2007

2008

2007

Finished Goods Holding Period (Days)

2008

2007

2008

Composite Score

17.39

14.88

14.74

12.96

4.36

3.17

0.76

0.64

23.02

37.51

43.64

12.17

16.51

2.95

3.43

4.41

4.77

45.75

15.46

16.11

26.6

27.68

5.68

5.46

0.68

1.47

0.33

0.37

18.87

31.96

36.33

35.05

43.58

19.84

20.71

1.3

1.76

0.39

0.3

36.28

NA

53.42

24.19

35.76

NA

15.8

NA

6.36

NA

1.2

39.17

77.91

86.03

37.57

49.41

22.63

26.56

3.38

4.93

3.42

3.52

58.62

62.07

54.78

117.63

79.18

14.57

15.28

0.7

0.9

2.1

1.21

49.64

77.63

96.76

82.56

79.58

17.36

17.21

2.65

1.78

5.57

6.01

66.67

60.37

49.55

52.34

64.61

14.28

15.7

2

2.57

2.54

2.54

45.53 55.89

NA

49.53

83.88

87.8

NA

14.74

NA

11.93

NA

1.43

73.25

75.11

45.49

38.51

26.84

26.62

5.3

5.68

5.71

5

53.46

28.67

31.34

43.87

62.98

8.65

9.2

10.34

12.27

0.36

0.27

40.86

35.71

38.15

23.24

25.45

45.14

50.1

7.87

11.46

0.39

0.34

51.07

NA

90.54

109.87

63.55

NA

21.46

NA

11.99

NA

5.91

66.56

44.56

57.26

57.46

51.62

32.61

27.03

6.66

8.31

5.64

4.76

53.05

77.95

72.88

103.84

92.57

23.43

26

6.57

7.3

3.53

4.26

69.92

17.63

22.31

35.33

53.81

17.52

24.51

2.85

3.92

2.02

3.01

39.14

87.01

91.3

59.25

49.47

30.94

32.89

15.7

15.72

2.26

3.75

69.71 59.18

48.65

53.47

42.16

35.88

27.17

39.05

17.57

19.38

3.36

3.7

100.06

103.84

41.82

40.68

39.29

32.04

29.25

22.27

12.87

8.04

75.41

NA

18.87

72.78

74.21

NA

22.22

NA

3.85

NA

0.96

42.17 67.06

75.68

81.58

45.69

35.19

39.21

46.5

6.25

9.31

5.52

5.36

59.52

68.07

47.59

52.54

34.68

43.16

5.81

5.31

9.5

7.79

65.21

NA

44.05

64.61

53.06

NA

38.62

NA

20.07

NA

0.06

59.09

81.4

88.25

51.79

67.04

22.33

22.88

28.11

35.9

2.9

4.45

79.65

91.8

96.34

66.52

72.52

88.59

77.84

5.7

4.87

3.37

2.92

94.39

34.1

45.84

68.16

78.13

27.19

32.05

2.91

2.42

3.73

2.79

56.40

32.66

42.31

49.41

71

16.49

18.46

10.88

8.76

7.68

8.2

53.27

24.83

18.73

90.48

60.84

37.22

37.63

0.15

0.18

2.12

2.12

44.91

47.48

50.51

70.1

69.12

23.8

22.75

11.79

11.36

10.57

10.51

58.64

78.86

86.33

66.01

67.02

48.02

44

8.64

7.64

7.3

5.31

75.78

53.45

51.41

56.12

58.32

24.75

31.86

9.59

11

5.53

6.07

58.89

81.49

68.77

73.74

72.12

17.99

7.25

122.21

101.39

12.21

1.61

98.03

107.67

96.76

89.16

77.65

18.05

17.97

10.19

9.85

53.08

36.56

88.82

24.95

64.26

47.91

65.75

21.04

39.57

3.22

4.45

0

1.6

62.15

14.48

18.43

44.96

37.53

58.36

48.05

8.2

5.45

4.18

2.28

45.30 69.06

50.83

54.1

103.38

62.49

35.01

50.66

12.73

15.55

1.83

1.5

40.88

22.97

110.69

57.63

35.05

18.87

3.88

2.58

6.3

6.92

38.77

56.67

78.5

68.29

85.33

31.5

32.99

15.55

14.72

4.26

3.26

75.06 53.14

NA

45.9

21.37

24.44

NA

53.01

NA

7.23

NA

2.32

42.25

59.17

84.92

105.68

22.74

28.9

16.22

14.46

0

0.84

74.31

28.74

42.07

45.61

56.03

27.17

31.51

9.19

19.94

0.68

0.61

56.12

45.71

46.95

34.06

30.11

76.32

75.1

5.83

8.68

3.34

4.6

67.71

88.79

54.75

111.5

89.35

52.21

27.5

14.47

10.84

10.78

7.04

66.77

92.94

104.49

62.09

54.25

23.74

25.8

10.44

17.95

19.26

18.28

79.46

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

Auto

30.87 64.32

AnCIllArIEs

22.23 58.39

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

79


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

46

Frontier Springs Ltd.

Leaf springs (Automotive)

23.01

23.73

0.75

0.65

5.49

4.89

2.06

2.85

9%

12% 24%

47

Amtek Ring Gears Ltd.

Automobile ancillaries

189.59

207.96

0.77

0.71

1.51

1.53

32.88

50.18

17%

48

Indication Instruments Ltd.

Auto dashboard instruments

55.18

64.25

0.72

0.70

2.30

2.62

6.58

8.12

12%

13%

49

K E W Industries Ltd.

Automobile ancillaries

50.33

62.78

1.05

0.59

2.09

1.48

8.26

9.45

16%

15%

50

Hema Engineering Inds. Ltd.

Automobile ancillaries

265.75

263.69

0.66

0.70

3.46

3.65

13.53

17.27

5%

7%

51

Autolite (India) Ltd.

Auto head lights

60.73

71

0.73

0.62

1.82

1.80

9.27

13.07

15%

18%

52

Pinnacle Industries Ltd.

Automobile ancillaries

80.4

82.98

0.84

0.85

4.74

4.94

4.55

9.37

6%

11%

53

H V Axles Ltd.

Automobile ancillaries

196.19

202.15

0.18

0.19

0.19

0.21

112.12

115.12

57%

57%

54

Liners India Ltd.

Cylinder liners

37.95

43.52

0.53

0.45

0.99

0.97

3.61

6.21

10%

14%

55

Kalyani Forge Ltd.

Automobile ancillaries

182.83

191.71

0.68

0.70

1.85

1.98

26.02

26.8

14%

14%

56

Venus Industrial Corpn. Pvt. Ltd.

Automobile ancillaries, nec

69.8

83.63

0.71

0.74

1.61

1.99

5.92

6.18

8%

7%

57

I P Pins & Liners Ltd.

Automobile engine parts

13.05

15.11

0.40

0.49

0.73

1.03

3.18

2.58

24%

17%

58

Sundaram Industries Ltd.

Automobile ancillaries, nec

209.43

228.77

0.65

0.70

3.60

4.20

35.12

24.94

17%

11%

59

Lumax Auto Technologies Ltd.

Automobile ancillaries

160.49

177.4

0.91

0.87

4.69

4.93

6.4

7.03

4%

4%

60

Ring Plus Aqua Ltd.

Thickwall, thinwall bearings

72.28

81.78

0.51

0.55

1.21

1.47

16.67

15.38

23%

19%

61

Ghatge Patil Inds. Ltd.

Auto castings

205.82

251.32

0.59

0.67

2.34

3.26

23.22

23.71

11%

9%

62

M & M Auto Inds. Ltd.

Leaf springs (Automotive)

36.44

37.52

0.60

0.62

0.85

0.90

4.89

5.93

13%

16%

63

Samkrg Pistons & Rings Ltd.

Pistons

83.41

94.13

0.47

0.45

0.77

0.83

20.18

20.96

24%

22%

64

Clutch Auto Ltd.

Drive transmission & steering parts

234.94

217.55

0.68

0.71

2.34

2.24

40.55

33.47

17%

15%

65

Madras Radiators & Pressings Ltd.

Automobile ancillaries, nec

66

India Pistons Ltd.

Pistons

67

Gujarat Automotive Gears Ltd.

Gears including crown wheels

24.9

25.88

0.73

0.78

6.90

7.66

1.67

1.83

7%

7%

238.32

268.77

0.66

0.64

1.84

2.02

26

47.26

11%

18%

10.15

10.72

0.62

0.67

5.07

5.75

0.9

1.18

9%

11%

68

Hi-Tech Gears Ltd.

Drive transmission & steering parts

270.8

287.62

0.54

0.52

1.32

1.33

33.06

38.32

12%

13%

69

Fiem Industries Ltd.

Other auto lights

168.29

179.02

0.78

0.78

1.10

1.17

25.3

24.83

15%

14%

70

Menon Bearings Ltd.

Other Automobile ancillaries, nec

30.77

35.21

0.61

0.60

1.92

2.18

6.65

7.29

22%

21% 10%

71

Triton Valves Ltd.

Engine valves

64.32

74.91

0.85

0.75

2.41

2.50

5.09

7.86

8%

72

Sundaram Auto Components Ltd.

Brake hoses

133.16

138.99

0.77

0.79

1.82

1.94

12.73

7.74

10%

6%

73

Q H Talbros Ltd.

Steering linkages

157.77

178.86

0.72

0.72

3.11

3.54

15.41

20.6

10%

12% 19%

74

Steel Strips Wheels Ltd.

Wheels for automobiles

198.57

261.49

0.70

0.69

0.81

1.05

44.47

48.57

22%

75

Talbros Engineering Ltd.

Axle shafts

51.71

60.87

0.75

0.71

3.00

3.36

3.63

4.94

7%

8%

76

Waaree Instruments Ltd.

Pressure gauges

48.41

50.75

0.67

0.70

2.69

2.95

7.1

7.39

15%

15% 14%

77

yuken India Ltd.

Fuel pumps

85.57

104.87

0.68

0.66

2.62

3.10

11.1

14.29

13%

78

Remsons Industries Ltd.

Automobile equipment

51.11

55.07

0.77

0.77

2.11

2.27

-2.59

1.73

-5%

3%

79

J B M Auto Ltd.

Automobile ancillaries

145.13

186.53

0.70

0.80

1.48

2.15

19.29

20.96

13%

11% 19%

80

N H K Spring India Ltd.

Automobile ancillaries, nec

62.74

79.02

0.69

0.70

0.82

1.05

12.55

14.73

20%

81

Bimetal Bearings Ltd.

Thickwall, thinwall bearings

93.59

107.99

0.61

0.67

1.67

2.11

16.29

16.87

17%

16%

82

Apex Auto Ltd.

Other Automobile ancillaries, nec

72.88

113.89

0.70

0.70

1.50

2.37

13.52

23.96

19%

21%

83

Abilities India Pistons & Rings Ltd.

Pistons

10.15

10.84

0.55

0.72

0.75

1.05

1.53

1.31

15%

12%

84

Renowned Auto Products Mfrs. Ltd.

Shock absorbers

76.22

83.3

0.85

0.85

8.33

9.11

3.58

-0.02

5%

0%

85

Eimco-K C P Ltd.

Automobile engine parts

14.52

16.28

0.20

0.34

2.20

4.07

1.75

1.4

12%

9%

86

Federal-Mogul T P R (India) Ltd.

Piston rings

41.94

62.99

0.31

0.27

0.56

0.74

10.13

14.09

24%

22%

87

Hella India Lighting Ltd.

Auto head lights

22.7

22.51

0.75

0.89

2.81

3.31

-6.02

-0.59

-27%

-3%

88

Bharat Gears Ltd.

Gears including crown wheels

198.85

239.84

0.63

0.62

1.85

2.18

31.11

32.35

16%

13%

89

Victor Gaskets India Ltd.

Gaskets

32.33

34.55

0.68

0.65

1.59

1.62

2.96

3.14

9%

9%

90

K A R Mobiles Ltd.

Engine valves

70.99

89.69

0.57

0.64

3.26

4.60

6.39

7.02

9%

8%

91

Denison Hydraulics India Ltd.

Hydraulic pumps

34.19

49.97

0.41

0.41

1.12

1.65

10.27

17

30%

34%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

80

february 28, 2010 | industry 2.0

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

43.7

54.22

18.02

29.36

30.05

41.48

28.37

11.29

18.51

22.28

63.73 95.14

NA

45.92

60.38

74.06

NA

9.34

NA

106.73

NA

1.22

53.37

55.76

44.11

41.68

37.28

32.11

13.87

15.17

14.42

12.69

59.91

102.95

120.74

37.6

37.26

22.99

23.86

39.22

54.79

45.37

33.42

103.88 75.88

69.83

89.58

22.43

37.6

11.14

19.67

0.91

1.61

106.53

96.67

22.41

45.27

5.14

8.8

7.15

7.58

78.45

59.39

71.23

103.29

107.29

40.6

46.13

7.16

13.73

2.52

1.93

85.63 118.51

0.1

3.09

24.62

29.16

145.12

196.34

16.37

20.78

0.09

0.17

107.99

93.75

62.89

58.19

26.87

32.96

68.23

58.5

8.69

6.94

95.10

66.03

85.05

54.31

76.45

30.96

49.25

20.59

23.73

0.35

2.73

86.87

NA

33.17

84.92

92.28

NA

25.55

NA

14.62

NA

1.89

59.23

88.82

89.8

50.2

89.22

33.29

28.98

27.55

39.04

7.02

6.64

91.37

55.07

53.97

65.19

67.68

41.67

43.47

7.86

8.19

15.14

17.23

71.94

32

39.72

64.92

72.5

15.05

37.49

1.97

3.32

3.06

7.79

59.13

68.94

73.45

83.41

72.65

70.26

67.06

9.29

10.45

13.83

11.58

88.82

83.89

91.99

87.6

109.78

32.64

48.15

28.59

25.82

3.55

2.49

99.57 73.42

36.16

32.76

38.4

67.24

30.5

35.86

40.6

49.31

0.23

0.99

76.56

81.4

62.42

64.67

45.52

51.34

30.36

35.09

6.85

5.59

90.13

128.68

157.9

59.72

69.27

28.58

34.02

38.71

51.99

8.92

9.51

116.53 98.05

69.45

83.6

41.98

53.49

69.72

76.1

27.84

31.66

0.95

2.68

72.05

65.08

89.19

60.82

32.54

27.28

33.73

29.06

28.16

24.35

78.68

49.28

55.4

62.46

62.14

34.45

26.43

65.25

50.82

17.53

15.32

82.85 68.92

27.53

36.14

48.76

65.89

32.35

54.44

17.6

18.63

12.17

2.76

35.88

42.71

68.96

55.58

28.38

32.56

15.62

24.94

2.52

4.15

60.73

94.04

105.75

53.74

78.01

39.79

44.04

23.3

21.9

33.03

35.05

106.22 80.02

66.76

76.81

29.31

31

54.55

63.67

21.39

23.9

5.52

6.44

30.6

34.95

79.63

67.75

18.34

25.07

8.93

10.54

10.8

9.18

53.76

70.91

76.1

109.18

119.23

42.93

38.72

11.6

8.87

21.17

23.23

94.88

33.01

38.24

34.68

102.74

76.14

62.53

6.56

6.74

2.27

5.58

80.10

59.59

55.32

56.79

73.18

24.19

25.01

63.89

63.14

5.51

5.79

86.35

NA

95.76

107.7

78.18

NA

120.91

NA

10.53

NA

14.15

125.74

96.41

95.59

79.43

79.94

78.86

78.54

23.33

20.03

7.23

7.27

106.36

76.25

83.38

86.02

98.94

34.22

30.34

17.07

13.74

15.39

13.09

83.90

73.75

66.78

71.15

95.4

38.99

35.92

39.8

61

0.84

0.92

98.19

36.89

38.52

43.29

47.68

37.78

38.29

18.35

25.66

6.24

8.43

62.44

75.74

82.79

51.88

58.68

88.34

84.73

9.72

11.5

28.1

31.78

107.03

11.61

13.12

39.89

42.31

46.39

45.8

11.74

19.22

13.22

14.36

56.97

125.07

120.5

38.29

67.63

26.54

25.39

26.69

37.73

32.24

27.78

102.27

59.37

65.45

136.68

190.16

46.22

48.21

1.23

1.01

13.21

13.26

109.92

142.33

161.74

127.44

151.85

59.34

63.66

45.22

71.59

5.43

3.42

164.31

167.26

122.34

64.43

38.4

363.19

206.02

31.98

28.77

40.15

16.13

173.93

113.85

65.4

149.86

142.08

42.3

29.98

5.65

7.36

12.24

13.9

88.70

68.41

72.62

93.13

90.94

50.46

49.33

26.33

23.2

7.53

6.53

89.19 85.44

80.31

78.26

80.84

87.33

42

39.07

19.57

15.7

19.54

15.82

82.05

70.56

68.72

67.52

92.6

76.39

17.85

16.09

20.34

11.7

94.58

110.3

111.16

97.95

108.95

121.67

96.5

42.7

33.91

4.1

6.47

134.95

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

Auto

62.28 60.33

AnCIllArIEs

44.12 45.76

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

81


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

92

Company Name

Industrial Activity

H V Transmissions Ltd.

Drive transmission & steering parts

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

175.27

190.84

0.23

0.23

0.25

0.27

88.48

98.57

50%

52%

93

A B I-Showatech (India) Ltd.

Automobile ancillaries, nec

138

128.78

0.50

0.50

1.26

1.19

39.64

44.92

29%

35%

94

Perfect Circle India Ltd.

Automobile engine parts

73.08

78.4

0.54

0.49

0.75

0.73

-2.99

8.22

-4%

10%

95

Rasandik Engineering Inds. India Ltd.

Automobile ancillaries, nec

159.2

183.53

0.81

0.77

1.02

1.10

15.24

26.62

10%

15%

96

Pradeep Metals Ltd.

Automobile ancillaries

54.68

70.47

0.73

0.73

2.29

2.97

6.97

5.67

13%

8%

97

Luxite Industries Ltd.

Thickwall, thinwall bearings

17.56

17.61

0.51

0.57

1.90

2.13

2.97

3.21

17%

18%

98

Hindustan Composites Ltd.

Brake linings

66.08

71.57

0.62

0.63

0.85

0.93

1.12

4.74

2%

7%

99

Simmonds Marshall Ltd.

Other Automobile ancillaries, nec

24.34

30.72

0.66

0.63

5.57

6.79

4.37

6.45

18%

21%

100

Micro Forge (India) Ltd.

Automobile engine parts

71.58

77.56

0.91

1.04

43.05

53.41

6.56

-14.48

9%

-19%

101

Schrader Duncan Ltd.

Automobile engine parts

54.27

56.86

0.87

0.77

10.04

9.28

28.18

4.51

52%

8%

102

Ramkrishna Forgings Ltd.

Automobile ancillaries

146.17

202.02

0.68

0.71

1.14

1.63

31.24

44.54

21%

22%

103

Raunaq Automotive Components Ltd.

Drive transmission & steering parts

54.24

52.05

0.69

0.68

2.17

2.05

6.8

5.11

13%

10%

104

I P Rings Ltd.

Piston rings

49.26

53.9

0.51

0.48

0.66

0.68

10.75

9.22

22%

17%

105

J M T Auto Ltd.

Drive transmission & steering parts

162.98

201.3

0.73

0.71

0.91

1.09

26.63

36.66

16%

18%

106

Amforge Industries Ltd.

Automobile ancillaries

55.29

50.8

0.79

0.82

3.32

3.16

-9.47

0.1

-17%

0%

107

Ceekay Daikin Ltd.

Drive transmission & steering parts

86.36

97.15

0.73

0.73

1.68

1.90

11.82

11.51

14%

12%

108

Roto Pumps Ltd.

Rotor pumps

31.65

39.97

0.69

0.65

3.85

4.53

4.5

6.57

14%

16%

109

Tata yazaki Autocomp Ltd.

Wiring harness & parts

243.07

255.11

0.82

0.77

3.96

3.92

7.57

6.76

3%

3%

110

E L Forge Ltd.

Automobile ancillaries

100.14

105.75

0.73

0.77

1.19

1.32

16.08

18.84

16%

18%

111

Automotive Coaches & Components Ltd.

Automobile bodies

127.51

114.99

0.79

0.78

6.62

5.89

7.78

2.38

6%

2%

112

Uni Klinger Ltd.

Gaskets

35.62

31.38

0.56

0.60

1.22

1.15

8.23

5.69

23%

18%

113

Mahindra Sar Transmission Pvt. Ltd.

Automobile ancillaries

46.01

62.1

0.58

0.61

0.74

1.06

4.44

8.66

10%

14%

114

K L T Automotive & Tubular Products Ltd.

Automobile engine parts

282.28

295.94

0.80

0.67

1.02

0.90

50.53

59.24

18%

20%

115

A N G Auto Ltd.

Suspension & braking parts

114.14

145.28

0.65

0.77

2.03

3.06

31.49

34.1

28%

23%

116

Lumax Automotive Systems Ltd.

Filter elements, inserts

96.99

102.08

0.79

0.77

1.38

1.41

9.48

8.99

10%

9% -34%

117

Federal-Mogul Bearings India Ltd.

Bimetal bearings

35.24

38.1

0.79

0.93

1.04

1.32

-8.22

-12.81

-23%

118

Talbros Automotive Components Ltd.

Gaskets

160.21

177.89

0.71

0.72

1.50

1.67

20.73

23.01

13%

13%

119

Vybra Automet Ltd.

Automobile ancillaries

57.91

60.2

0.68

0.71

0.87

0.95

7.67

9.74

13%

16%

120

Shardlow India Ltd.

Crankshafts

78.84

94.13

0.77

0.86

3.93

5.24

4.99

3.67

6%

4%

121

Krishna Engineering Works Ltd.

Auto castings

34.78

40.05

1.34

0.97

2.40

2.01

0.76

-0.72

2%

-2%

122

Harig Crankshafts Ltd.

Crankshafts

45.97

35.6

0.73

0.69

1.09

0.80

7.24

6.57

16%

18%

123

Gajra Gears Pvt. Ltd.

Gears including crown wheels

115.44

119.61

0.67

0.61

1.50

1.41

13.56

4.23

12%

4%

67.11

76.75

0.73

0.64

25.90

24.74

0.19

4.26

0%

6%

Automobile And ConstruCtion equipment 1

Tecpro Ashtech Ltd.

Ash handling plants

2

Avon Cycles Ltd.

Bicycles

296.56

328.27

0.73

0.75

11.17

4.57

20.38

26.81

7%

8%

3

Rockman Industries Ltd.

Bicycles

214.18

220.38

0.78

0.75

2.45

1.10

22.46

27.28

10%

12%

4

T R F Ltd.

Material handling equipment

337.85

364.74

0.59

0.61

18.95

17.92

34.47

63.65

10%

17%

5

Apollo Earthmovers Ltd.

Earth moving machinery

40.55

58.72

0.80

0.73

15.88

8.60

5.14

12.39

13%

21%

6

Milton Cycle Inds. Ltd.

Bicycle parts & accessories

39.75

56.63

0.92

0.87

8.09

10.93

0.88

1.19

2%

2%

7

Jost'S Engineering Co. Ltd.

Material handling equipment

36.59

41.72

0.60

0.73

18.58

19.84

4.68

2.65

13%

6%

8

Gujarat Apollo Inds. Ltd.

Other construction machinery

140.86

183.91

0.67

0.52

3.22

3.10

31.45

53.59

22%

29%

9

Hercules Hoists Ltd.

Other cranes

90.87

93.79

0.51

0.50

1.73

1.65

34.31

30.88

38%

33%

10

Majestic Auto Ltd.

Mopeds

120.78

113.21

0.85

0.82

1.66

1.52

1.03

9.9

1%

9%

11

Stone India Ltd.

Railway & tramway equipment

71.28

82.37

0.73

0.73

1.34

1.61

10.72

6.11

15%

7%

12

Andhra Pradesh Heavy Machinery & Engg. Ltd.

Material handling equipment

52.15

60.13

0.73

0.70

13.89

13.17

8.05

6.55

15%

11%

13

Mahindra Gujarat Tractor Ltd.

Tractors

79.83

80.14

0.86

0.86

37.61

32.21

2.14

3.42

3%

4%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

82

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

0.16

0.1

135.29

126.63

226.11

251.43

15.75

16.11

0.22

0.06

Composite Score

172.02

46.6

55.99

51.17

107.83

40.84

48.24

6.3

9.88

13.82

38.15

97.69

68.3

66.1

66.23

76.46

28.99

28.75

21.3

20.85

24.09

25.99

80.83

43.28

38.64

94.62

97.21

22.79

25.47

15.94

27.56

6.31

5.97

70.66

72.25

67.71

128.47

104.63

75.15

67.58

0.76

0.93

130.17

36.47

36.93

131.22

101.77

105.81

77.54

19.49

18.63

141.95

75.88

68.14

101.17

85.22

52.45

48.57

16.56

17.53

11.94

8.33

83.55

57.06

67.27

49.93

57.51

86.78

99.5

59.75

59.68

16.84

16.61

126.86

22.7

20.05

43.19

34.94

56.8

43.28

20.37

18.12

18.64

15.74

65.92

71.09

75.5

72.01

70

39.92

46.68

26.39

31.43

13.36

15.04

92.25 140.89

52.36

51.33

82.61

103.34

113

146

35.17

41.81

0.15

0.15

39.63

41.58

78.57

58.7

41.63

48.72

20.89

21.77

8.7

11.44

71.62

61.07

73.96

52.36

47.64

114.49

115.72

17.3

28.1

18.01

14.03

115.67

25.75

30.64

71.19

86.69

126.46

179.22

13.89

20.02

1.37

1.11

135.77

86.74

87.14

79.26

101.09

58.95

48.94

10.56

9.29

14.54

18.76

95.76

56

51.32

60.13

63.62

65.49

59.04

68.87

62.17

4.81

3.4

97.34 133.48

76.6

78.65

79.09

71.75

98.7

77.85

22.61

26.16

66.11

70.57

35.16

35.24

96.18

86.74

73.65

70.77

11.9

13.22

6.98

5.03

82.05

63.46

77.56

57.7

108.73

149.7

156.28

0.75

0.76

44.58

62.52

166.12

38.65

53.7

85.36

95.48

64.05

84.75

23.82

25.53

1.39

1.94

102.20

65.94

76.83

71.23

61.47

77.45

122.95

47.5

76.91

10.52

8.49

146.05

87.14

84.62

100.01

97.85

36.1

48.13

65.01

46.24

9.97

18.1

111.34

49.92

63.08

87.07

82.05

51.56

66.06

10.96

15.62

28.58

38.16

103.81

108.32

105.74

71.35

73.96

42.51

67.94

62.94

61.78

17.59

31.79

135.48

69.15

72.34

113.93

116.55

47.74

60.55

27.56

31.78

3.91

3.85

105.21 105.10

151.79

66.36

NA

50.03

NA

14.15

NA

51.64

74.22

74.53

119.33

58.72

78.72

13.62

22.43

17.38

18.06

118.17

35.56

32.2

33.89

34.67

45.57

74.09

22.81

39.81

29.19

32.98

93.87

56.38

45.82

112.83

104.24

91.85

64.36

48.39

55.59

6.82

5.78

109.11

78.09

39.22

166.91

225.05

24.12

17.09

33.27

35.63

39.44

61.53

137.00

77.43

118.93

115.58

175.72

69.01

96.48

82.6

138.5

68.24

88.14

250.29

45.01

48.13

111.09

119.73

62.4

70.03

72.4

56.67

43.35

38.45

133.34

225.64

265.51

233.17

275.93

11.15

18.98

0

2.4

0.03

0.05

17.0

84.15

87.68

61.03

84.53

2.93

3.01

1.42

1.29

10.87

13.4

23.0

NA

50

60.17

71.44

NA

10.26

NA

7.2

NA

0.56

23.1

162.91

192.12

241.93

305.5

8.51

9.73

21.85

22.06

1.82

3.07

23.3

16.32

12.43

73.86

44.32

23.44

24.71

19.45

2.12

6.94

7.64

23.9

52.17

72.3

113.94

117.86

20.48

20.95

8.07

7.16

2.25

1.97

27.1

128.29

104.54

123.75

123.78

46.55

62.26

4.74

5.77

7.91

10.01

29.4

57.53

60.88

81.66

47.58

61.77

55.51

19.84

18.98

8.3

13.14

30.2

64.9

76.87

58.33

54.03

124.9

131.5

20.28

26.21

1.42

1.27

31.0

76.61

53.66

67.27

67.93

45.68

32.62

14.3

12.8

2.49

4.1

31.1

98.17

97.38

89.92

94.61

60.23

57.39

30.68

27.14

4.06

1.96

32.7

83.53

82.19

51.03

43.65

132.47

141.81

49.47

27.62

3.78

3.77

33.2

46.76

53.26

98.59

92.27

46.02

50.85

11

10.03

10.54

18.78

35.5

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

AutomoBile

89.67

AnD COnsTruCTIOn EquIPMEnT

NA 63.07

Auto

75.11 104.41

AnCIllArIEs

73.11 92.36

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

83


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

17.79

22.07

0.47

0.44

4.19

4.40

2.71

6.59

15%

30%

0.49

0.59

1.07

1.78

23.28

28.87

23%

24%

0.58

0.84

5.11

5.13

132.12

21.89

41%

9%

0.69

0.75

1.84

1.97

1.85

2.65

13%

13%

25.06

0.82

0.68

15.51

8.45

-0.38

-1.76

-1%

-7%

60.3

0.72

0.76

2.58

2.45

11.96

11.16

23%

19%

123.91

82.09

0.89

0.81

3.41

1.68

8.94

7.33

7%

9% 2%

14

Skyline Millars Ltd.

Construction machinery

15

Eimco Elecon (India) Ltd.

Mining machinery

99.22

120.2

16

H M T Ltd.

Tractors

323.28

234.08

17

Brady & Morris Engg. Co. Ltd.

Other material handling equipment

13.99

20.77

18

Hamilton Industries Pvt. Ltd.

Bicycles

41.02

19

Mcnally Sayaji Engg. Ltd.

Construction machinery

52.06

20

Atul Auto Ltd.

Three wheelers

21

Tractor Engineers Ltd.

Crawler tractors

95.51

173.68

0.75

0.95

2.31

3.99

17.79

4.21

19%

22

Kinetic Engineering Ltd.

Mopeds

152.63

82.68

0.73

0.99

2.40

1.56

-21.77

2.39

-14%

3%

23

Scooters India Ltd.

Three wheelers

170.29

138.76

0.91

0.82

8.15

6.00

-16.88

-16.55

-10%

-12%

24

Man Force Trucks Pvt. Ltd.

Commercial vehicles

22.07

124.01

1.75

1.24

0.26

0.82

-15.16

-61.08

-69%

-49%

25

L M L Ltd.

Scooters

330.62

65.33

0.87

0.98

1.38

0.35

-103.19

-14.58

-31%

-22%

32%

cement 1

Anjani Portland Cement Ltd.

Cement

67.26

100.25

0.54

0.47

0.80

0.86

19.46

31.97

29%

2

Indorama Cement Ltd. [Merged]

Portland slag cement

117.08

166.04

0.58

0.58

0.64

1.05

31.16

46.36

27%

28%

3

Deccan Cements Ltd.

Cement

143.04

188.23

0.32

0.33

0.59

0.23

49.17

80.02

34%

43%

4

Panyam Cements & Mineral Inds. Ltd.

Cement

94.51

154.27

0.54

0.42

1.37

1.51

18.72

52.35

20%

34%

5

Kakatiya Cement Sugar & Inds. Ltd.

Cement

121.79

148.89

0.99

0.72

1.27

1.19

33.09

34.83

27%

23%

6

Sainik Finance & Inds. Ltd.

Ordinary portland cement

11.48

12.68

0.52

0.63

1.15

1.15

3.61

3.06

31%

24% 25%

7

Sagar Cements Ltd.

Cement

198.4

223.62

0.62

0.59

1.58

0.44

43.31

56.9

22%

8

Barak Valley Cements Ltd.

Cement

72.68

69.24

0.45

0.52

0.74

0.74

24.62

21.46

34%

31%

9

Shiva Cement Ltd.

Cement

22.69

24.81

0.71

0.63

0.30

0.24

5.14

8.5

23%

34%

10

N C L Industries Ltd.

Cement

148.64

194.21

0.47

0.43

0.38

0.36

45.39

68.89

31%

35%

11

Meghalaya Cement Ltd.

Cement

125.75

218.05

0.31

0.22

0.42

0.41

45.84

105.71

36%

48%

12

Vinay Cements Ltd.

Portland slag cement

48.46

40.07

0.48

0.50

1.20

1.07

11.09

6.73

23%

17%

13

Shree Digvijay Cement Co. Ltd.

Cement

262.12

254.93

0.48

0.57

1.64

1.49

61.7

-6.65

24%

-3%

14

Kalyanpur Cements Ltd.

Cement

141.88

154.72

0.55

0.55

0.69

0.85

20.17

59.47

14%

38%

15

Travancore Cements Ltd.

White portland cement

23.9

26.93

0.77

0.75

16.75

18.77

-0.46

0.77

-2%

3%

chemicAls 1

Refnol Resins & Chemicals Ltd.

Finishing agents

17.78

23.52

0.71

0.70

12.11

14.86

2.18

4.06

12%

17%

2

Pondy Oxides & Chemicals Ltd.

Zinc oxide

95.38

135.47

0.82

0.83

6.26

7.53

7.23

13.53

8%

10%

3

D I C Coatings India Ltd.

Industrial paints

38.65

41.95

0.73

0.72

6.52

5.53

5.24

6.24

14%

15%

4

Solar Industries India Ltd.

Industrial explosives

127.55

171.01

0.73

0.73

2.18

2.79

20.51

37.83

16%

22%

5

Bhageria Dye-Chem Ltd.

Sulphonated & nitrated derivatives of

58.58

66.09

0.77

0.84

8.97

10.41

2.97

3.92

5%

6%

6

Vinati Organics Ltd.

Benzene

83.74

150.12

0.74

0.73

1.65

2.11

10.23

29.4

12%

20%

7

Shri Chlochem Ltd.

Monochloroacetic acid

18.29

20.76

0.81

0.77

5.10

5.34

0.83

1.31

5%

6%

8

Gwalior Chemical Inds. Ltd.

Para chloro toluene

206.62

295.36

0.62

0.64

0.93

1.03

40.01

54.48

19%

18%

9

Gulshan Polyols Ltd.

Sorbitol

72.96

145.37

0.62

0.57

1.07

0.74

14.18

33.06

19%

23%

10

Transmetal Ltd.

Other chlorides

57.23

61.43

0.65

0.67

1.29

1.08

10.5

11.37

18%

19%

11

Shree Hari Chemicals Export Ltd.

H acid

67.79

80.21

0.76

0.84

5.18

5.85

10.17

10.33

15%

13%

12

Andhra Petrochemicals Ltd.

Alcohols & their derivatives

268.47

287.55

0.66

0.73

2.18

2.45

78.29

70.53

29%

25%

13

Bhagiradha Chemicals & Inds. Ltd.

Chlorpyriphos

83.18

83.98

0.69

0.77

2.03

2.06

18.09

11.18

22%

13%

14

Laffans Petrochemicals Ltd.

Organic chemicals

141.78

171.59

0.90

0.89

7.28

6.33

7.27

8.7

5%

5%

15

Camex Ltd.

Phenol derivatives

41.01

59.93

0.91

0.91

11.04

16.06

1.73

2.72

4%

5%

16

Bharat Rasayan Ltd.

Pesticides

60.17

69.96

0.83

0.88

7.96

9.60

2.94

7.24

5%

10%

17

Keltech Energies Ltd.

Explosives

59.63

83.78

0.69

0.75

4.31

5.80

1.45

1.63

2%

2%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

84

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


small manufacturing companies

Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

61.96

43.35

243.52

169.79

48.56

63.94

24.02

17.34

4.62

11.19

36.0

111.48

78.25

61.15

40.94

372.37

213.53

64.47

51.19

4.06

4.65

36.6

257.01

353.56

196.43

178.83

51.87

53.76

21.28

20.57

11.2

25.73

37.6

55.85

60.73

100.39

105.9

73.63

73.73

106.12

140.21

0

0.77

39.1 39.5

NA

82.22

96.9

100.14

NA

95.22

NA

8.52

NA

28.37

33.5

24.73

94.01

84.59

47.79

38.16

51.59

61.19

8.12

8.02

39.6

21.81

23.93

24.3

30.39

33.65

68.8

16.06

37.18

3.04

5.84

40.4 41.4

76.5

67.41

114.01

130.03

101.42

2.89

0.99

31.01

25.75

326.84

158.59

128.89

61.2

83.69

30.54

26.14

16.69

4.24

41.6

31.4

20.55

68.61

63.67

50.71

72.56

16.6

22.6

40.77

39.16

47.8

NA

26.38

935.13

486.74

NA

283.81

NA

10.14

NA

20.06

55.8

11.53

43.78

168.12

1001.23

134.23

648.81

16.21

66.6

5.3

14.99

61.6

12.8

24.14

21.44

49.11

51.31

73.48

94.76

38.62

30.18

0.07

0.06

31.13

39.86

76.48

91.45

35.69

25.51

0.36

0.39

6.58

2.53

13.1

3.88

1.91

26.45

42.01

78.04

58.43

2.65

6.32

2.06

2.23

14.7

19.64

19.45

388.13

297.87

93.04

116.78

7.21

10.98

0.3

0.49

16.6

32.11

25.47

39.61

38.89

56.95

52.04

3.85

4.5

98.68

118.74

17.6

196.58

175.51

196.09

136.08

40.06

68.15

15.46

19.64

0.58

6.55

19.6

12.84

9.07

30.99

59.03

114.91

118.85

2.96

1.68

0.4

0.34

20.1

15.01

18.73

23.07

39.47

82.55

127.74

9.89

22.73

1.69

1.51

20.6

39.03

29.4

73.88

53.82

112.19

123.14

4.65

10.67

5.62

5.74

22.9

50.49

46.73

106.67

99.34

96.63

120.71

30.9

19.5

24.54

22.09

23.1

NA

19.35

69.74

70.38

NA

203

NA

33.65

NA

2.76

25.4

133.57

191.42

151.89

198.59

114.59

163.26

26.79

28.64

9.73

8.5

27.0

16.55

16.69

62.99

57.81

109.88

169.29

12.76

14.67

4.8

6.81

28.5

2.34

4.22

96.52

119.83

187.58

178.38

17.16

15.03

3.41

5.95

29.8

6.1

4.75

106.21

103.8

316.72

278.17

47

48.51

3.95

2.89

32.2

82.05

211.56

141.79

28.45

24.28

0.92

0.8

9.36

8.19

99.0

46.28

18.33

14.73

12.55

12.79

4.82

4.15

8.04

5.73

105.2

84.86

83.22

44.71

46.87

31.74

30.08

4.63

2.44

14.52

14.13

106.3

69.86

52.8

39.61

29.23

35.35

39.77

0.41

0.2

7.45

10.4

109.6

61.78

88.32

45.42

50.89

12.54

15.16

7.39

5.8

8.66

5.94

112.2 112.8

65.25

46.16

45.84

33.8

27.99

21.51

7.62

5.11

9.98

7.04

90.43

89.99

62.72

55.18

16.84

18.28

11.38

8.66

6.38

4.63

117.4

77.2

80.53

23.14

33.48

33.88

35.02

8.75

7.58

5.33

4.49

118.8

49.72

49.82

29.29

37.42

16.18

26.43

7.15

4.82

8.76

7.43

119.5

53.89

61.45

53.47

55.02

16.29

14.31

9.91

10.58

5.76

4.54

120.9

50.02

60.98

50.3

46.08

13.89

17.23

4.2

3.75

9.66

12.73

122.1

19.06

27

9.55

6.93

31.85

28

3.6

6.01

7.36

6.58

125.3

73.32

73.76

41.68

47.66

18.35

34.95

6.62

6.01

1.3

3.4

126.4

67.77

65.6

28.24

39.51

10.86

24.76

4.83

11.65

1.14

0.65

133.3

104.19

97.73

108.24

59.42

24.16

25.57

24.55

21.16

6.11

2.53

136.2

90.98

87.52

16.02

34.46

20.03

24.65

15.93

20.19

13.31

11.08

139.3

54.42

49.11

59.05

83.28

35.56

34.21

1.79

2.7

3.08

3.26

139.4

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

chemicAls

89.46 52.02

cement

67.32 156.39

AutomoBiles

WORKING CAPITAL CyCLE

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

85


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

18

Asahi Songwon Colors Ltd.

Pigments

76.04

85.78

0.67

0.77

2.09

1.04

13.87

14.97

18%

17%

19

Cetex Petrochemicals Ltd. [Erstwhile]

Organic chemicals

70.25

83.68

0.78

0.85

2.64

2.44

4.15

6.99

6%

8%

20

Indo Borax & Chemicals Ltd.

Borax

24.48

38.16

0.61

0.59

3.95

6.18

7.52

11.98

31%

31%

21

Jayshree Chemicals Ltd.

Sodium hydroxide (Caustic Soda)

50.6

51.37

0.65

0.69

3.42

3.63

6.01

6.48

12%

13%

22

Gulshan Sugars & Chemicals Ltd. [Merged]

Calcium carbonates

43.4

53.49

0.55

0.53

0.62

0.54

10.33

12.91

24%

24%

23

Indo-Nippon Chemical Co. Ltd.

Plasticisers

25.22

31.15

0.79

0.81

5.10

6.84

15.1

0.81

60%

3%

24

M V S Engineering Ltd.

Other dyes

32.91

27.32

0.68

0.53

7.95

11.67

4.44

7.87

13%

29%

25

Aksharchem (India) Ltd.

Dyes

34.46

48.67

0.76

0.88

9.82

3.88

1.12

2.55

3%

5%

26

Arch Finechemicals Ltd.

Dimehyl sulphate

29.14

45.23

0.73

0.79

1.06

1.42

3.9

5.51

13%

12%

27

Atotech India Ltd.

Miscellaneous chemicals

61.29

67.81

0.55

0.52

3.11

1.05

11.3

10.75

18%

16%

28

Sree Rayalaseema Hi-Strength Hypo Ltd.

Inorganic chemicals

115.47

112.51

0.55

0.62

1.35

1.27

13.32

13.51

12%

12%

29

Haryana Leather Chemicals Ltd.

Leather auxilliaries

23.84

21.21

0.69

0.72

2.50

2.07

2.61

1.76

11%

8%

30

Punjab Alkalies & Chemicals Ltd.

Sodium hydroxide (Caustic Soda)

203.11

201.11

0.79

0.78

0.94

0.97

28.35

31.28

14%

16% 43%

31

Cabot Sanmar Ltd.

Silicon dioxide

25.51

26.08

0.30

0.41

0.42

0.49

11.72

11.19

46%

32

Jaysynth Dyestuff (India) Ltd.

Dyes

13.62

77.58

0.96

0.94

9.73

21.23

0.65

4.92

5%

6%

33

Aditya Birla Chemicals (India) Ltd.

Sodium hydroxide (Caustic Soda)

146.83

177.79

0.42

0.46

0.24

0.32

70.78

93.7

48%

53%

34

Economic Explosives Ltd.

Detonating, safety & other fuses, igniters

36.78

47.11

0.45

0.51

0.85

1.06

9.99

19.09

27%

41%

35

Chromatic India Ltd.

Dyes

15.9

15.98

0.89

1.02

4.69

5.19

1.54

0.78

10%

5%

36

Assam Petrochemicals Ltd.

Methanol

61.84

64.08

0.56

0.55

2.24

2.51

16.47

16.03

27%

25%

37

Alkali Metals Ltd.

Alkali & alkali-earth metals

60.11

61.72

0.71

0.74

1.43

1.43

11.95

12.18

20%

20%

38

Metrochem Industries Ltd.

Dyes

240.95

249.5

0.75

0.75

2.71

2.26

26.31

30.67

11%

12%

39

Jocil Ltd.

Fatty acids

85.77

115.36

0.71

0.74

1.29

1.63

15.48

17.79

18%

15% 8%

40

Dai-Ichi Karkaria Ltd.

Chemicals, nec

42.84

48.39

0.80

0.78

2.19

2.52

2.87

3.96

7%

41

Bhagat Aromatics Ltd.

Menthol

46.78

47.16

0.94

0.92

18.04

8.62

2.02

2.32

4%

5%

42

Bombay Paints Ltd. [Merged]

Industrial paints

28.11

37.3

0.78

0.69

4.12

4.95

2.55

7.11

9%

19%

43

Auchtel Products Ltd.

Miscellaneous inorganic chemicals

58.01

57.7

0.81

0.73

19.64

20.18

4.8

4.23

8%

7%

44

Shivalik Rasayan Ltd.

Dimethoate

15.85

14.65

0.92

0.98

10.38

9.18

0.33

0.61

2%

4%

45

Biotech International Ltd.

Pesticides

14.56

22.7

0.55

0.45

1.90

2.04

1.85

2.59

13%

11%

46

Mysore Petro Chemicals Ltd.

Phthalic Anhydride

81.57

86.82

0.79

0.76

1.10

1.24

19.91

63.85

24%

74%

47

Camlin Fine Chemicals Ltd.

Chemicals

47.81

81.17

0.80

0.72

1.11

1.72

1.98

13.38

4%

16%

48

I V P Ltd.

Miscellaneous chemicals

54.43

55.99

0.76

0.82

2.03

2.93

-3.87

4.89

-7%

9%

49

Poddar Pigments Ltd.

Synthetic colouring substances

92.67

100.34

0.80

0.82

4.55

4.39

6.27

8.48

7%

8%

50

Daikaffil Chemicals India Ltd.

Dyes

14.34

14.32

0.75

0.78

3.41

3.49

1.32

1.4

9%

10%

51

Grauer & Weil (India) Ltd.

Chemicals, nec

139.4

173.04

0.63

0.64

1.26

1.25

22.61

28

16%

16%

52

Chemfab Alkalis Ltd.

Sodium hydroxide (Caustic Soda)

103.67

101.51

0.48

0.52

0.68

0.68

33.69

29.4

32%

29%

53

Sunshield Chemicals Ltd.

Phenols & their derivatives

33.46

41.66

0.79

0.87

1.19

1.39

0.87

3.94

3%

9%

54

Indo Amines Ltd.

Amine function compounds

65.02

83.56

0.79

0.79

5.63

7.17

4.93

7.39

8%

9%

55

A P T Packaging Ltd.

Ammonium nitrate

16.13

21.89

0.53

0.55

0.40

0.56

2.94

16.75

18%

77%

56

Plastiblends India Ltd.

Other colouring substances

126.57

161.3

0.77

0.73

2.57

2.35

15.85

22.92

13%

14%

57

Tanfac Industries Ltd.

Fluorides

124.27

166.4

0.75

0.75

2.37

3.00

13.18

21.63

11%

13%

58

Associated Pigments Ltd.

Lead oxides

32.68

142.08

1.33

0.83

5.93

16.93

-1.4

9.08

-4%

6%

59

Akzo Nobel Chemicals (India) Ltd.

Catalysts, reaction initiators

53.21

55.68

0.44

0.43

4.00

3.84

22.7

20.92

43%

38%

60

Indian Oxides & Chemicals Ltd.

Antimony oxides

28.09

20.64

0.96

0.86

12.25

3.74

2.16

1.52

8%

7%

61

Balaji Amines Ltd.

Ethyl amines

169.82

212.72

0.83

0.66

2.22

1.72

25.18

30.24

15%

14%

62

Kilburn Chemicals Ltd.

Titanium dioxide

74.57

87.73

0.60

0.68

0.85

1.06

14.06

10.41

19%

12%

63

Lime Chemicals Ltd.

Calcium carbonates

47.68

47.46

0.91

0.96

2.25

2.35

-1.03

-14.8

-2%

-31%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

86

february 28, 2010 | industry 2.0

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2008

2007

2008

2007

2008

2007

2008

2007

2008

79.86

65.46

51.39

21.07

26.24

2.12

2.77

26.27

19.09

139.5

67.63

73.27

59.19

57.49

22.47

31.94

0.74

0.66

14.79

14.31

140.3

22.8

19.5

35.2

23.4

79.8

71.4

4.26

2.99

10.95

9.2

141.0

38.58

41.08

72.62

77.57

81.92

57.81

1.3

1.44

4.43

4.32

142.0

102.28

96.96

14.34

31.34

112.47

77.57

6.99

5.56

18.06

8.37

142.6

NA

21.78

138.97

128.17

NA

9.74

NA

2.06

NA

5.04

143.8

47.56

70.01

45.21

86.11

40.84

70.03

1.81

7.31

5.06

5.62

144.4

57.28

48.66

46.29

69.72

12.66

7.78

6.14

3.38

15.9

10.22

146.7

89.49

86.29

78.35

44.32

78.47

76.74

6.87

3.8

16.77

4.63

147.1

87.2

90.46

92.54

78.86

73.83

64.96

0.39

0.25

17.98

15.89

147.1 147.2

36.31

34.66

66.45

71.43

26.82

38.13

1.06

1.96

6.78

6.11

112.56

123.89

74.88

67.37

40

51.38

1.98

2.73

11.54

13.67

147.6

46.28

46.67

42.42

50.66

77.4

77.23

0.53

0.58

1.76

1.76

147.8 149.3

39.74

44.96

31.3

62.6

36.08

37.23

6.23

5.72

6.52

8.14

231.04

59.52

265.36

88.78

31.8

17.75

0

0.22

58.77

20.5

149.7

23.54

25.08

135.07

99.63

64.21

47.22

1.21

2.43

0.82

3.71

150.3

91.85

72.43

66.04

48.69

34.21

32.38

2.23

3.95

29.2

31.75

150.6

79.63

84.96

47.39

60.17

25.18

27.66

28.74

24.33

0.3

0.18

152.9

13.72

10.42

90.46

54.63

170.36

174.76

0.42

0.65

9.33

5.42

153.9 154.4

58.94

53.88

17.5

30.77

48.5

35.67

49.08

78.6

0.91

0.53

94.75

120.75

51.19

46.75

36.7

35.53

26.08

22.09

7.31

12.69

156.1

58.44

51.18

31.55

20.27

37.55

26.87

10.44

8.13

21.49

19.8

157.0

105.55

87.23

91.99

72.75

37.38

32.84

0.11

0.93

28.8

23

157.3

58.05

57.33

39.57

39.68

8.41

6.57

81.28

98.54

3.08

5.04

159.6

90.51

91.7

85.41

85.78

26.68

31.57

4.62

5.56

40.74

35.53

159.8

94.63

92.32

93.68

101.59

26.4

30.56

12.14

10.43

13.72

14.33

160.6

48.61

65.63

80.62

119.73

20.29

27.54

1.26

2.67

5.19

11.32

161.1

NA

120.19

190.25

140.17

NA

54.03

NA

2.28

NA

19.19

162.0 163.8

21.82

22.56

114.4

74.01

34.63

37.33

4.78

4.67

6.3

6.25

34.53

51.3

111.62

69.01

12.09

22.23

32.67

46.23

3.26

5.94

163.9

126.94

120.59

35.82

29.96

54.83

49.15

13.29

3.27

34.92

29.06

165.0 165.8

37.08

44.51

36.95

28.62

72.56

67.37

4.61

3.66

14.04

10.14

69.75

88.72

62.26

65.42

22.52

33.32

19.47

22.65

5.68

10.93

167.5

61.13

58.24

69.5

64.29

38.21

36.97

13.39

10.65

13.71

11.48

169.0

30.8

33.05

58.6

55.71

154.48

118.28

1.6

1.53

7.02

8.86

169.6

67.06

61.92

58.23

43.29

46.65

37.28

10.54

6.56

7.67

9.45

169.6

60.67

66.86

84.24

64.38

25.97

18.79

26.77

22.8

15.16

16

169.6

91.85

67.94

100.89

65.69

85.8

73.04

4.03

4.74

14.77

11.53

169.8

36.13

41.34

28.01

30.39

27.61

29.18

7.3

10.15

18.39

20.48

170.0

45.26

39.76

24.32

70.43

94.88

89.38

4

2.93

7.12

4.91

171.0

39.92

17.29

118.72

49.36

36.71

13.55

60.08

23.36

41.41

10.59

174.3

35.25

38.39

98.6

111.67

90.91

137.48

4.04

2.55

12.17

10.2

175.4

53.68

77.94

41.87

46.78

18.06

23.64

7.67

7.55

21.61

34.91

177.2

64.03

75.73

42.43

60.79

36.97

43.72

12.56

12.34

20.54

18.33

177.8

39.19

32.29

44.2

37.45

37.78

36.19

20.2

22.51

9.28

7.82

178.1

81.69

73.32

69.57

88.1

68.66

45.27

1.96

1.74

16.2

11.45

178.9

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

chemicAls

2007 67.26

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

87


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

31.25

31.52

0.75

0.74

5.17

5.26

3.11

2.86

10%

9%

Pesticides

260.36

269.68

0.65

0.67

4.40

4.52

19.26

19.13

7%

7%

Dyes

33.93

37.34

0.65

0.76

1.95

1.23

4.44

4.06

13%

11%

Asian Paints Industrial Coatings Ltd.

Industrial paints

48.71

62.41

0.83

0.69

3.29

2.73

3.29

6.2

7%

10%

68

Anil Products Ltd.

Starches modified, adhesives, etc.

201.86

225.65

0.79

0.87

1.92

2.11

18.01

25.38

9%

11%

69

Link Pharma Chem Ltd.

Inorganic chemicals

13.76

11.1

0.72

0.74

1.03

0.75

1.83

1.71

13%

15%

70

Ritesh International Ltd.

Stearic acid

8.7

11.45

0.90

0.73

0.81

0.89

0.03

0.7

0%

6%

64

Vidhi Dyestuffs Manufacturing Ltd.

Dyes

65

Cheminova India Ltd.

66

Dynemic Products Ltd.

67

71

Polson Ltd.

Tanning extracts of vegetable origin

49.22

50.54

0.74

0.74

4.20

3.39

3.97

4.45

8%

9%

72

Ultramarine & Pigments Ltd.

Ultramarine

78.29

88.07

0.46

0.59

1.71

2.30

26.92

23.55

34%

27%

73

Lona Industries Ltd.

Dyes

94.62

133.63

0.83

0.77

6.51

7.58

4.72

10.03

5%

8%

74

Dynamic Industries Ltd.

Dyes

51.18

43.33

0.91

0.83

8.09

6.79

2.51

2.19

5%

5%

75

Krishna Industrial Corpn. Ltd.

Superphosphates

31.99

38.58

0.77

0.76

1.93

2.18

2.55

2.96

8%

8%

76

Basant Agro Tech (India) Ltd.

NPK mixed fertilisers

92.64

109.79

0.77

0.84

3.23

3.42

7.28

9.94

8%

9%

142.27

134.32

0.88

0.87

8.00

4.06

5.07

-0.06

4%

0%

5.11

16.53

0.69

0.82

0.34

1.28

1.04

1.76

20%

11%

48.43

64.54

0.79

0.92

3.75

6.03

3.52

4.1

7%

6% 20%

77

Albright & Wilson Chemicals India Ltd.

Sodium tripolyphosphate

78

Tantech Agro Chemicals Ltd.

Insecticides

79

Indo Colchem Ltd.

Dyes

80

Premier Explosives Ltd.

Industrial explosives

67.94

58.57

0.57

0.60

1.14

1.62

9.18

11.88

14%

81

Cepham Milk Specialities Ltd.

Casein

39.85

104.74

1.11

0.88

1.93

4.45

-6.91

1.35

-17%

1%

82

Excel Industries Ltd.

Pesticides

203.59

228.29

0.66

0.67

1.29

1.38

20.55

25.92

10%

11%

83

Rajasthan Explosives & Chemicals Ltd.

Industrial explosives

36.86

45.6

0.74

0.73

3.13

3.75

2.66

3.75

7%

8%

84

Transpek Industry Ltd.

Salts of inorganic acids & metals

83.07

108.89

0.54

0.71

0.77

1.27

14.75

10.4

18%

10%

85

Trichy Distilleries & Chemicals Ltd.

Organic chemicals

42.69

40.79

0.56

0.43

4.10

1.41

6.14

11.62

14%

28%

86

Elantas Beck India Ltd.

Wire enamel

146.4

173.54

0.73

0.68

5.03

4.34

26.97

33.4

18%

19%

87

Asian Peroxide Ltd.

Hydrogen peroxide

67.09

61.16

0.50

0.54

0.35

0.39

14.34

11.05

21%

18%

88

Jenson & Nicholson (India) Ltd.

Industrial paints

25.2

30.45

0.81

0.85

0.41

0.56

-4.36

-8.24

-17%

-27%

134.03

227.74

0.88

0.86

3.21

3.57

15.45

34.83

12%

15%

60.5

77.1

0.86

0.77

1.31

1.04

236.11

8.5

390%

11%

280.69

0.82

0.81

10.00

13.12

40.42

61.8

18%

22%

89

Kiri Dyes & Chemicals Ltd.

Dyes

90

Lords Chloro Alkali Ltd.

Sodium hydroxide (Caustic Soda)

91

Sicpa India Ltd.

Printing ink

227.23

92

Merchem Ltd.

Rubber chemicals

74.87

83.39

0.75

0.75

2.34

1.23

9.74

15.05

13%

18%

93

Amines & Plasticizers Ltd.

Plasticisers

91.84

106.29

0.79

0.79

10.64

10.96

6.3

8.13

7%

8%

94

Camphor & Allied Products Ltd.

Camphor

115.14

105.54

0.85

0.93

3.19

2.92

4.34

3.75

4%

4%

95

Brahmaputra Valley Fertilizer Corpn. Ltd.

Urea

252.56

221.9

0.61

0.72

0.26

0.29

38.14

5.52

15%

2%

96

Kolmak Chemicals Ltd.

Titanium dioxide

17.82

15.93

0.96

0.61

1.86

1.18

0.64

-1.58

4%

-10%

97

Ghaziabad Organics Ltd.

Acetic acid

18.48

29.49

0.85

0.71

0.60

0.80

2.55

4.21

14%

14%

98

Astec Lifesciences Ltd.

Chemicals

31.48

55.17

0.75

0.75

1.08

1.25

6.41

14.74

20%

27%

99

Nicomet Industries Ltd.

Cobalt hydroxide

103.39

205.17

0.91

0.80

2.80

4.17

12.25

27.84

12%

14%

100

Organic Coatings Ltd.

Printing ink

32.23

36.82

0.86

0.79

3.22

2.82

1.13

2.8

4%

8%

101

Borax Morarji Ltd.

Borax

61.25

81.08

0.68

0.69

2.93

2.70

7.61

10.65

12%

13%

102

Indian Toners & Developers Ltd.

Duplicating ink

42.73

39.25

0.54

0.55

1.41

1.44

9.27

5.89

22%

15%

103

Crystal Phosphates Ltd.

Pesticides

184.27

217.13

0.85

0.81

22.68

25.20

9.38

13.55

5%

6%

104

Sabero Organics Gujarat Ltd.

Organophosphorous insecticides

155.6

198.24

0.85

0.74

2.20

2.48

17.04

25.04

11%

13%

105

Meghmani Industries Ltd.

Pesticides

102.41

108.3

0.73

0.74

5.43

3.93

14.06

15.58

14%

14%

106

Navin Fluorine Intl. Ltd.

Fluro carbon

265.75

294.78

0.67

0.65

1.03

1.05

43.6

35.89

16%

12% 15%

107

Narmada Gelatines Ltd.

Gelatin

53.37

56.92

0.75

0.81

2.74

2.34

5.48

8.31

10%

108

Shiva Fertilizers Ltd.

Single superphosphate

48.92

63.36

0.78

0.86

8.13

10.22

1.69

2.53

3%

4%

109

Lords Chemicals Ltd.

Chromates of sodium, potassium, zinc & lead

34.53

21.98

0.78

0.76

4.75

3.24

2.11

2.55

6%

12%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

88

february 28, 2010 | industry 2.0

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

109.38

137.95

27.53

42.66

37.44

59.01

27.28

29.53

14.68

14.81

129.15

135.29

96.42

107.57

59.84

42.34

5.34

5.02

38.86

30.09

180.1

81.8

66.18

26.31

22.68

26.39

32.3

26.72

24.85

18.29

15.61

180.5

68.36

69.84

67.66

69.41

62.1

54.9

1.75

1.54

34.58

35.51

181.5

178.9

70.43

83.22

63.65

61.63

40.37

3.45

3.03

21.43

22.54

182.2

69.67

45.8

47.42

15.38

21.19

6.71

10.97

31.74

38.76

182.3

234.34

139.22

159.07

117.6

11.85

15.27

6.77

5.78

44.25

31.82

182.4

46.91

53.46

69.73

71.44

35.51

49.45

0.91

3.97

22.38

17.96

182.8

41.53

50.67

31.66

38.54

45.64

41.33

23.04

26.69

22.86

21.2

185.0

42.05

34.27

104.2

72.24

44.96

44.45

34.93

23.17

3.58

2.39

185.8

109.97

122.93

66.29

85.8

18.62

17.97

4.16

7.39

38.85

54.77

186.0

62.37

46.81

109.19

136.28

41.27

61.41

2.34

2.49

8.45

8.57

186.6

62.19

53.3

41.76

47.88

54

68.25

0.28

0.27

23.07

28.42

186.9

33.66

40.39

36.03

70.11

27.01

35.63

2.03

2.74

15.06

14.41

187.2

25.17

10.59

301.96

87.09

182.5

50.9

0

4.73

0

1.97

187.7

81.16

65.41

85.63

55.29

74.71

53.7

42.46

40.37

0.76

1.03

188.2

61.95

92

166.83

78.87

68.39

68.1

25.42

24.08

21.31

13.91

188.9

65.62

25.68

188.47

61.39

9.84

5.35

21.51

10.08

31.55

18.42

189.4

102.03

94.78

80.6

78.88

67.71

43.97

15.44

12.77

22.31

19.72

189.7

66.54

73.34

95.35

71.21

62.1

49.4

4.96

5.12

30.31

28.2

189.9

90.18

64.5

71.41

73.42

55.45

45.59

11.58

9.19

15.42

13.93

192.5

53.58

52.45

44.89

58.78

76.65

147.34

3.9

4.03

17.63

21.87

192.6

49.42

45.32

41.61

41.95

65.26

71.53

7.8

7.35

24.91

28.03

194.0

41.68

41.24

37.92

54.92

114.17

154.21

0

6.39

5.51

8

195.2

191.59

161.3

643.82

496.34

32.39

25.87

0.71

0.78

40.8

38.39

195.3

81.56

65.54

38.94

69.16

28.11

31.89

17.23

12.22

30.74

31.23

200.7

31.16

28.61

93.01

80.97

137.35

117.37

1.54

1.9

8.52

7.37

201.7

17.06

7.18

51.57

67.29

120.82

112.76

2.18

0.83

12.37

25.33

203.5

66.53

70.3

52.56

56.31

39.97

55.12

7.43

17.18

14.88

20.32

203.7

40.98

54.21

77.33

62.46

20.73

52.69

7.14

6.5

38.81

30.25

205.9

39.71

42.2

19.78

19.06

39.29

37.79

26.02

20.66

12.34

16.8

208.3

46.05

70.8

108.81

107.72

226.69

201.77

0.31

0.79

14.72

11.82

210.5

41.48

42.16

53.74

36.19

33.59

32.24

35.15

25.28

30.2

23.47

213.3

36.69

34.1

98.3

49.93

42.35

57.05

33.2

37.05

18.75

10.09

214.0

88.22

87.91

133.45

134.84

43.37

27.39

96.49

92.2

49.39

28.34

214.1

63.4

47.4

122.51

112.45

28.28

29.07

43.32

51.76

33.5

18.37

217.3

127.94

121.94

73.63

95.48

70.11

58.57

11.28

12.89

18.45

24.04

218.0

56.78

48.03

117.08

88.27

156.8

113.69

11.73

8.7

29.72

16.31

221.1

56.03

72.8

87.64

95.18

83.65

113.99

11.45

13.34

17.75

19.61

222.2

43.81

48.38

94.44

115.46

22.11

21.62

6.28

13.32

58.79

56.7

222.7

45.29

42.62

90.4

105

42.88

31.56

11.4

11.51

48.77

43.81

225.0

136.2

128.81

49.51

67.62

77.04

102.75

52.61

43.29

19.7

26.85

225.2

61.9

69.52

144.29

178.29

71.41

70.55

4.32

4.12

34.78

33.75

226.6

49.76

51.03

39.9

48.6

59.87

48.21

44.62

43.6

20.25

24.39

227.3

35.72

24.26

51.23

14.55

50.03

101.7

3.23

3.37

54.29

41.9

227.4

NA

16.95

75.3

202.98

NA

113.62

NA

21.73

NA

1.31

227.9

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

chemicAls

53.77 40.45

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

89


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

110

Company Name

Industrial Activity

Solaris Chemtech Ltd.

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

Inorganic chemicals

217.31

256.98

0.63

0.55

0.52

0.43

50.95

62.6

23%

24%

111

Jupiter Bioscience Ltd.

Oxygen function amino compounds

103.84

130.54

0.54

0.47

0.34

0.22

55.19

80.36

53%

62%

112

Nitta Gelatin India Ltd.

Gelatin

135.92

151.87

0.71

0.65

1.77

1.77

16.88

17.95

12%

12%

113

Spectrum Ethers Ltd.

Phorate

24.07

36.71

0.80

0.56

1.54

1.74

2.14

3.17

9%

9% 80%

114

Solaris Chemtech Inds. Ltd.

Citric acid & its salts

49.87

46.73

0.83

0.31

0.23

0.09

-19.11

37.49

-38%

115

Benzo Petro International Ltd.

Organic chemicals

28.03

28.72

1.03

1.03

6.78

3.32

-0.08

0.35

0%

1%

116

Paushak Ltd.

Chemicals

21.3

24.75

0.63

0.59

1.41

1.24

5.27

5.89

25%

24%

117

Rathi Graphic Technologies Ltd.

Chemicals for photographic uses

13.81

14.58

0.65

0.54

0.66

0.58

2.87

3.46

21%

24%

118

India Gelatine & Chemicals Ltd.

Gelatin

63.6

59.66

0.74

0.76

1.02

0.99

3.57

6.22

6%

10%

119

Tuticorin Alkali Chemicals & Fertilisers Ltd.

Sodium carbonate (Soda Ash)

141.11

76.06

0.73

0.55

1.55

0.72

15.62

5.23

11%

7%

120

Vishnu Chemicals Ltd.

Sodium

114.83

120.98

0.60

0.50

0.92

0.36

20.27

23.63

18%

20%

121

Alkyl Amines Chemicals Ltd.

Amine function compounds

132.11

161.03

0.81

0.68

1.32

1.17

26.05

28.47

20%

18%

122

Hindustan Photo Films Mfg. Co. Ltd.

Photographic or cinematographic goods

13.16

15.74

2.41

1.80

0.09

0.09

-17.5

-38.11

-133%

-242%

123

Gujarat Agrochem Ltd.

Pesticides

40.52

58.58

0.95

0.80

1.61

1.99

1.66

6.2

4%

11%

124

Hindustan Insecticides Ltd.

Insecticides

176.17

190.49

0.82

0.71

4.42

4.28

11.3

11.92

6%

6%

125

Agrocel Industries Ltd.

Bromine

45.51

66.44

0.82

0.84

2.02

2.22

3.85

6.46

8%

10%

126

Wimco Ltd.

Matches

173.98

203.76

0.74

0.81

1.23

1.37

10.8

11.36

6%

6%

127

Sadhana Nitro Chem Ltd.

Organic chemicals

66.46

75.18

0.81

0.78

1.27

1.39

6.06

4.01

9%

5%

128

Gujarat Organics Ltd.

Benzoic acid

19.54

20.06

0.77

0.83

1.35

1.30

4.22

0.72

22%

4%

129

Avon Organics Ltd.

Organic chemicals

68.69

69.45

0.91

0.75

1.10

0.93

-7.01

4.56

-10%

7%

130

V B C Industries Ltd.

Ammonium nitrate

24.19

32.87

0.75

1.04

0.39

0.77

3.69

-0.59

15%

-2%

131

Asian Fertilizers Ltd.

Single superphosphate

18.12

17.13

0.88

0.77

4.10

3.57

0.81

0.79

4%

5%

132

Pandian Chemicals Ltd.

Chlorates & perchlorates

20.25

26.38

0.70

0.79

1.18

1.49

5.34

6.32

26%

24%

133

Diamines & Chemicals Ltd.

Amine function compounds

22.87

19.45

0.58

0.72

0.53

0.59

11.56

5.96

51%

31%

134

Shreyas Intermediates Ltd.

Acrylonitrile

61.76

88.57

0.86

0.91

1.50

1.17

8.98

13.09

15%

15% 3%

135

C J Gelatine Products Ltd.

Gelatin

12.77

15.19

1.05

0.86

0.93

0.92

0.67

0.47

5%

136

Indokem Ltd.

Dyes

69.75

67.96

0.88

0.83

1.92

0.94

7.67

5.07

11%

7%

137

Aimco Pesticides Ltd.

Chlorpyriphos

17.98

11.66

0.76

0.80

1.79

1.44

-0.37

-2.1

-2%

-18%

138

Innovassynth Technologies (India) Ltd.

Carboxylic acids

23.11

32.46

1.11

0.89

0.31

0.36

-4.76

-2.96

-21%

-9%

146.74

169.46

0.38

0.37

3.55

4.21

25.02

35.57

17%

21% 10%

cosmetics AnD cleAning 1

Bajaj Consumer Care Ltd.

Hair oil

2

Standard Surfactants Ltd.

Synthetic detergents

21.63

40.99

0.78

0.86

1.16

2.41

3.64

4.05

17%

3

Primacy Industries Ltd.

Perfumes

60.06

107.06

0.70

0.78

2.14

4.17

4.69

5.72

8%

5%

4

Ador Multiproducts Ltd.

Cosmetics & toilet preparations

10.17

10.86

0.54

0.70

3.85

5.43

0.59

0.56

6%

5%

5

Amar Remedies Ltd.

Tooth paste

167.01

201.86

0.59

0.55

2.36

1.36

27.8

27.01

17%

13%

6

Pee Cee Cosma Sope Ltd.

Washing soap flakes, chips & powder

17.91

21.41

0.85

0.86

1.50

1.52

0.37

0.63

2%

3%

7

Paramount Minerals & Chemicals Ltd.

Whitening agents

42.7

65.19

0.65

0.71

1.34

1.64

6.86

9.05

16%

14%

8

A V T Natural Products Ltd.

Essential oils

72.9

86.89

0.76

0.52

2.62

1.99

18.68

19.05

26%

22%

9

Shingar Ltd.

Cosmetics & toilet preparations

19.26

22.35

0.61

0.70

1.90

2.51

-1.39

1.89

-7%

8%

10

Diamond Dye-Chem Ltd.

Whitening agents

140.08

161.69

0.70

0.78

1.17

1.34

68.78

32.15

49%

20%

11

Sijmak Oils Ltd.

Other essential oils

19.01

19.83

0.75

0.71

3.01

3.13

4.6

2.78

24%

14%

12

International Flavours & Fragrances (India)

Odouriferous mixtures used in industry

287.75

282.15

0.55

0.64

4.74

5.50

70.96

60.88

25%

22%

13

Hindustan Polyamides & Fibres Ltd.

Organic surface-active agents other than soap

149.65

204.23

0.80

0.77

1.71

1.99

13.94

26.38

9%

13%

14

Ultra International Ltd.

Perfumes & toilet waters

9.81

17.17

0.70

0.87

0.88

1.83

1.13

2.13

12%

12%

15

J H S Svendgaard Laboratories Ltd.

Preparations for oral or dental hygiene

32.53

37.27

0.68

0.72

1.10

0.46

6.32

7.05

19%

19%

16

Indfrag Ltd.

Essential oils other than of citrus fruits

31.13

26.99

0.52

0.34

0.93

0.55

3.04

2.43

10%

9%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

90

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

34.19

32.4

96.52

121.94

147.73

176.38

9.42

11.84

10.97

7.78

Composite Score

228.4

74.48

81.72

15.26

15.22

69.24

88.49

66.38

81.12

50.87

53.15

228.9

17.7

21.94

27.72

26.03

56.01

60.43

56.47

47.12

26.3

22.35

229.5

88.72

67.02

131.02

99.5

46.08

39.27

26.04

50.27

61.92

24.26

229.5

77.26

32.39

256.3

57.73

103.54

11.27

22.45

21.48

20.31

231.8

13.34

101.54

249.46

67.06

66.61

3.57

0.85

6.17

18.74

236.0

65.42

63.45

200.34

172.58

117.37

95.66

2.38

6.51

30.78

39.1

237.7

83.57

85.12

52.07

46.61

137.64

168.72

20.97

28.5

33.25

43.14

238.0

33.88

37.37

11.31

16.62

34

35.43

27.88

31.04

53.56

64.02

238.7

37.88

43.75

54.37

86.82

76.97

199.55

3.39

5.87

17.01

15.81

238.7

52.02

52.13

94.92

133.34

18.36

102.06

27.7

32.97

16.07

14.28

242.2

74.95

84.64

73.39

85

77.02

74.57

23.91

27

38.92

41.47

243.7

372.1

352.09

647.84

456.06

211.12

207.17

30.38

21.4

2.6

2.88

246.0

50.13

22.38

149.4

131.37

30.05

21.04

45.18

41.75

27.44

31.67

246.1

109.64

87.06

110.6

103.61

70.88

69.25

21.57

29.72

44.19

41.17

246.6

45.47

40.58

125.59

142.67

60.48

62.09

8.97

5.67

26.38

28.41

246.7

92.07

88.71

79.17

74.26

2.46

8.54

12.62

13.77

248.7

71.49

90.35

65.98

70.11

7.5

7.29

26.28

23.5

249.4

54.23

63.54

94.24

115.45

22.65

24.31

31.21

76.68

47.65

33.49

250.8

112.48

93.53

36.79

48.97

80.18

114.56

107.51

147.38

20.42

22.23

251.9

16.74

16.26

238.32

191.17

266.65

290.05

2.77

2.94

3.62

9.03

262.0

20.17

31.19

152.71

189.28

49.55

67.6

48.34

33.01

11.36

14.38

262.4

32.92

21.46

95.26

132.83

115.16

115.58

31.54

28.57

17.13

21.06

275.5

47.36

73.92

223.4

212.59

73.28

90.31

71.62

105.63

45.04

59.88

280.6

37.29

32.77

62.7

53.04

79.42

77.24

14.79

32.65

47.48

41.53

280.7

62.38

45.29

179.81

161.2

39.5

26.53

131.03

127.48

35.72

40.85

282.4

81.07

74.19

136.14

174.21

44.26

63.75

85.05

139.65

35.63

38.29

288.1

468.55

703.58

171.12

239.9

102.36

119.22

247.72

333.02

153.28

176.84

303.9

168.33

132.54

215.25

275.27

138.17

161

34.48

35.82

43.97

41.92

311.1

2.38

1.17

83.07

61.44

14.03

13.95

1.06

1.18

10.75

10.44

14.8 17.0

92.23

62.15

39.64

35.34

103.33

30.11

16.52

3.26

9.1

6.03

107.04

54.05

46.34

21.09

98.88

69.05

3.33

0.66

1.55

1.61

17.8

62.46

45.07

33.64

24.73

31.59

33.83

0.3

0.74

13.43

20.28

18.7

62.78

78.84

18.16

44.29

56.78

71.31

1.99

1.51

15.32

11.71

21.5

8.11

6.34

14.31

13.14

25.46

22.84

2.83

2.62

13.35

15.27

21.8

35.44

31.14

45.41

55.86

44.96

46.86

9.71

6.79

1.83

2.19

21.9

120.81

117.14

17.4

31.45

72.65

57.16

13.11

11.51

82.69

77.41

24.2

117.9

117.23

58.48

60.15

43.43

32.06

81.7

70.42

13.59

20.21

25.2

63.62

55.98

60.93

51.33

52.05

57.74

9.45

7.98

17.78

19.61

25.9

97.69

106.9

72.86

18.99

53.01

54.44

57.15

43.77

63.37

59.07

25.9

49.75

55.56

74.44

98.33

52

66.29

9.62

10.72

27.07

34.99

26.0

52

36.25

100.49

93.49

26.13

41.26

11.37

12.86

18.86

18.25

28.4

60.73

37.44

21.87

25.74

185.57

125.43

13.03

15.12

0

11.03

30.8

82.91

67.73

60.96

117.18

185.53

142.77

5.1

4.88

28.42

51.99

32.4

44.65

42.22

53.45

85.02

59.64

67.01

35.14

42.59

39.89

40.96

34.4

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

cosmetics

13.99 42.35

& ClEAnIng

21 32.76

chemicAls

41.1 6.58

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

91


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

17

Sunehari Exports Ltd.

Tooth brush

20.58

21.88

0.64

1.85

0.56

1.59

9.46

15.21

46%

70%

18

Ajanta India Ltd.

Tooth paste

69.72

85.87

0.90

0.96

2.40

3.18

6.63

8.09

10%

9%

92.42

90.46

0.86

0.87

3.95

3.73

5.46

5.15

6%

6% 36%

DiversifieD mAnufActuring 1

Amco India Ltd.

Diversified

2

Hardcastle & Waud Mfg. Co. Ltd.

Diversified

27.68

33.38

0.65

0.69

4.63

4.30

0.15

11.94

1%

3

Bombay Burmah Trdg. Corpn. Ltd.

Diversified

220.71

243

0.61

0.59

1.50

1.49

33.06

40.5

15%

17%

4

English Indian Clays Ltd.

Diversified

242.5

266.32

0.57

0.60

0.87

0.85

45.89

51.87

19%

19%

5

Modi Industries Ltd.

Diversified

197.51

263.84

0.80

0.85

1.61

2.27

-9.26

5.79

-5%

2%

6

Andrew yule & Co. Ltd.

Diversified

139.66

174.71

0.74

0.75

0.62

0.77

-46.46

32.58

-33%

19%

7

Batliboi Ltd.

Diversified

128.35

130.25

0.65

0.61

1.85

1.69

22.71

21

18%

16%

8

Tamil Nadu Small Inds. Corpn. Ltd.

Diversified

58.23

115.82

0.88

0.64

0.23

0.37

3.88

13.75

7%

12%

9

Jessop & Co. Ltd.

Diversified

83.01

131.88

0.55

1.08

0.84

2.13

16.74

25.45

20%

19%

Drugs AnD PhArmAceuticAls 1

Harman Finochem Ltd.

Drugs, medicines & allied products

69.73

76.65

0.58

0.60

1.52

1.66

20.04

20.69

29%

27%

2

Vikram Thermo (India) Ltd.

Basic pharmaceuticals nec

13.59

17.41

0.57

0.55

1.21

1.28

3.03

4.03

22%

23%

3

Natural Capsules Ltd.

Empty capsules

17.73

20.2

0.57

0.57

0.82

0.95

4.83

5.46

27%

27%

4

Syncom Formulations (India) Ltd.

Drug formulations

61.37

69.08

0.49

0.58

1.16

1.27

7.93

7.76

13%

11%

5

Twilight Litaka Pharma Ltd.

Drug formulations

197.52

296.04

0.80

0.83

5.24

5.96

26.3

37.41

13%

13%

6

Sanjivani Paranteral Ltd.

Antibiotics

68.94

91.85

0.89

0.89

4.88

6.30

6.48

7.48

9%

8%

7

Creative Health Care Pvt. Ltd.

Drugs, medicines & allied products

7.76

25.39

0.39

0.50

0.41

1.59

1.56

3.98

20%

16%

8

Medi-Caps Ltd.

Other pharmaceutical products, nec

24.37

31.08

0.41

0.29

1.84

1.91

10.15

16.71

42%

54%

9

Tyche Industries Ltd.

Drugs, medicines & allied products

27.33

29.37

0.69

0.62

1.97

1.75

6.16

5.3

23%

18%

10

Anuh Pharma Ltd.

Antibiotics

83.88

113.68

0.86

0.80

9.42

10.62

11.77

12.72

14%

11%

11

Arvind Remedies Ltd.

Drug formulations

156.65

175.81

0.80

0.83

2.25

2.21

13.47

18.1

9%

10%

12

Aarey Drugs & Pharmaceuticals Ltd.

Drug formulations

23.03

25.03

0.92

0.93

5.14

6.31

1.53

1.18

7%

5% 20%

13

Kilitch Drugs (India) Ltd.

Drug formulations

32.4

117.32

0.73

0.77

0.48

1.81

5.2

23.18

16%

14

Pan Drugs Ltd.

Formulations of mainly chloramphenicol

18.04

25.3

0.92

0.91

3.65

5.42

0.47

1.34

3%

5%

15

Gennex Laboratories Ltd.

Drugs, medicines & allied products

10.99

22.31

0.65

0.26

0.71

0.63

2.08

2.04

19%

9%

16

Vasudha Pharma Chem Ltd.

Drugs, medicines & allied products

137.9

165.66

0.69

0.70

2.78

1.78

10.66

16.91

8%

10%

17

Penam Laboratories Ltd.

Drug formulations

24.38

63.04

0.90

0.90

3.45

10.95

6.57

7.64

27%

12%

18

Venus Remedies Ltd.

Drugs, medicines & allied products

140.12

212.63

0.57

0.56

0.87

0.98

39.15

55.95

28%

26%

19

Rajasthan Drugs & Pharmaceuticals Ltd.

Drug formulations

41.65

88.44

0.68

0.80

7.02

9.49

3.74

5.26

9%

6%

20

Sidmak Laboratories (India) Pvt. Ltd.

Drug formulations

33.4

34.87

0.64

0.64

0.56

0.51

5.42

7.27

16%

21%

21

Roopa Industries Ltd.

Drugs, medicines & allied products

13.51

11.73

0.79

0.77

1.87

1.54

0.71

0.69

5%

6%

22

Unibios Laboratories Ltd.

Paracetamol

36

50.79

0.88

0.95

4.68

7.44

2.32

2.87

6%

6%

23

Granules India Ltd.

Paracetamol

175.49

187.71

0.64

0.65

0.79

0.62

27.12

34.83

15%

19%

24

Zandu Pharmaceutical Works Ltd.

Ayurvedic & unani medicaments

131.65

138.44

0.35

0.34

1.29

1.05

24.18

27.37

18%

20%

33.38

36.74

0.73

0.74

0.82

0.98

6.86

6.7

21%

18%

69

71.13

0.36

0.41

1.62

1.33

12.74

10.85

18%

15%

0.49

6.52

6.28

23%

24% 12%

25

Suyash Laboratories Ltd.

Drugs, medicines & allied products

26

Amrutanjan Health Care Ltd.

Ayurvedic & unani medicaments

27

Sunil Healthcare Ltd.

Empty capsules

27.81

26.06

0.50

0.54

0.69

28

Ozone Pharmaceuticals Ltd.

Drug formulations

65.57

66.66

0.44

0.48

2.30

2.48

9.56

8.2

15%

29

Mangalam Drugs & Organics Ltd.

Drugs, medicines & allied products

83.9

91.8

0.81

0.92

1.99

2.38

5.91

6.84

7%

7%

30

Everest Organics Ltd.

Drug formulations

13.69

20.47

0.75

0.77

0.76

1.22

1.39

2.31

10%

11% 6%

31

Medicamen Biotech Ltd.

Drug formulations

56.96

77.34

0.73

0.69

2.74

3.06

3.17

4.29

6%

32

Makers Laboratories Ltd.

Drug formulations

44.04

47.88

0.85

0.75

5.61

11.49

2.48

1.23

6%

3%

33

Ssl-Ttk Ltd.

Other pharmaceutical products, nec

111.31

118.63

0.72

0.61

3.60

2.91

-0.86

12.33

-1%

10%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

92

february 28, 2010 | industry 2.0

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

39.95

448.03

81.38

98.97

11.73

29.42

10.42

164.7

37.0

32.54

40.24

117.63

189.88

185.81

404.96

6.85

8.17

53.05

73.48

38.0

74.53

75.42

73.23

42.06

31.38

38.18

12.67

11.59

8.31

9.4

10.9

38.45

26.78

18.33

18.72

72.15

62.35

7.43

8.58

25.78

14.05

11.4

68.05

79.36

61.91

64.11

62.33

62.28

11.26

8.33

43.05

45.33

12.0

34.7

38.93

53.28

51.01

76.19

79.66

4.68

6.02

11.2

11.72

12.2 13.5

36.08

34.57

152.64

142.7

26.96

28.75

5.09

5.97

45.28

45.99

236.22

209.22

252.7

232.31

80.57

66.24

15.65

16.36

9.14

7.62

13.6

55.22

64.33

146.19

110.82

68.26

84.64

55.31

65.87

3.08

2.6

14.8

80.79

39.08

508.87

204.92

22.9

34.77

24.32

22.39

45.92

29.43

15.7

241.64

134.35

158.92

168.2

124.53

66.66

126.76

134.72

7.45

36.75

17.4

NA

61.39

83.34

60.08

NA

21.66

NA

0.52

NA

1.86

57.4

122.68

120.27

98.31

66.19

29.89

28.23

1.73

2.83

24

14.41

75.6

109.79

119.44

87.22

75.75

34.05

39.42

1.59

0.31

16.8

16.67

85.1

76.59

84.87

40.53

90.71

27.24

24.55

10.24

5.52

7.07

5.47

87.9

106.81

110.82

43.88

38.41

12.63

11.01

9.99

7.08

22.94

24.18

90.6

98.82

114.21

44.3

94.76

73.86

57.42

0.6

0.8

0.42

0.39

92.3

60.13

52.78

159.98

77.55

86.94

48.63

0

5.03

2.91

1.38

93.1

83.86

96.5

66.22

61.21

34.88

41.45

8.38

7.15

31.78

27.92

93.5

96.27

91.78

50.29

49.65

34.64

49.36

5.94

5.97

15.59

14.37

99.0

90.72

125.03

23.7

22.35

3.06

1.81

10.93

11.18

101.3

39.24

56.53

37.11

35.14

26.18

33.52

3.31

1.52

104.0

67.17

100.76

67.5

118.01

33.09

47.33

2.48

1.33

1.43

1.53

104.0

69.1

77.95

478.92

128.37

51.55

38.28

11.26

5.6

3.52

2.15

105.4

39.01

30.65

63.78

65.76

6.69

9.36

3.85

4.36

5.98

7.19

105.8

89.58

82.35

39.23

85.99

36.33

61.4

19.03

3.85

5.55

1.45

106.8

77.92

96.82

96.17

98.59

42.38

36.93

10.79

14.35

0.78

0.86

108.4

NA

39.25

128.85

126.75

NA

12.37

NA

7.85

NA

3.8

113.8

21.9

22.11

16.7

17.43

26.53

26.75

17.54

16.76

16.63

14.2

114.1

146.43

89.6

108.97

67.11

36.38

41.52

5.55

17.95

10.38

6.64

116.9

39.64

43.55

51.49

32.27

71.82

65.98

11.82

9.24

1.48

2.12

118.3

55.25

83.67

46.13

53.91

25.17

36.04

18.37

13.99

6.88

9.94

119.2

112.6

84.08

70.54

43.13

50.59

37.27

44.78

33.64

3.25

2.41

119.3

61.26

35.41

58.39

32.36

32.93

39.81

10.06

8.71

16.23

11.2

120.3

13.1

9.81

53.86

60.42

76.15

67.43

1.23

0.81

21.93

19.26

121.4

48.21

75.63

50.44

28.12

43.23

27.54

18.42

13.61

18.37

27.87

121.5

27.57

26.72

37.85

38.4

48.5

50.13

6.35

6.86

17.79

21.04

121.8

97.67

112.77

92.89

94.71

38.12

44.26

21.58

22.75

9.35

10.5

123.0

39.16

37.27

48.41

40.99

68.3

75.95

0.84

0.71

41.39

31.47

124.1

101.72

92.44

54.35

43.4

27.17

24.51

18.44

13.59

23.57

28.22

124.4

64.87

58.7

159.91

139.48

32.24

24.4

11.81

9.02

9.61

5

124.5

96.62

87.24

144.18

126.45

53.28

43.38

5.76

7.77

11.62

8.11

124.9

37.13

40.25

27.02

35.53

34.41

29.6

6.5

4.59

38.22

38.32

127.1

41.4

69.18

50.53

81.63

98.34

94.46

2.41

2.62

16.07

8.62

127.5

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

Drugs &

79.9 121.2

PhArMACEuTICAls

81.54 120.06

DiversifieD

2008 98.57

mAnufActuring

2007 57.75

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

93


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

34

N G L Fine-Chem Ltd.

Pharmaceutical products, nec

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

19.41

12.72

0.61

0.71

2.00

1.38

3.19

1.14

16%

9%

35

Malladi Drugs & Pharmaceuticals Ltd.

Ephedrines

107.96

138.84

0.61

0.63

1.04

1.38

19.51

23.96

18%

17%

36

S M S Pharmaceuticals Ltd.

Drugs, medicines & allied products

169.55

210.81

0.73

0.76

1.68

1.02

47.08

49

28%

23%

37

Alpa Laboratories Ltd.

Drugs, medicines & allied products

100.78

136.85

0.79

0.91

3.76

2.39

10.36

12.35

10%

9%

38

Indoco Remedies Ltd.

Drug formulations

247.31

264.15

0.47

0.48

1.07

0.73

50.43

47.24

20%

18%

39

Chemcel Biotech Ltd.

Amino acid liquids

23.35

24.53

0.04

0.04

0.79

0.79

2.19

2.85

9%

12%

40

Amol Pharmaceuticals Pvt. Ltd.

Pharmaceutical products, nec

48.26

51.14

0.95

0.66

8.33

2.10

3.82

5.16

8%

10%

41

Group Pharmaceuticals Ltd.

Drug formulations

34.1

40.79

0.53

0.44

1.83

1.88

3.52

3.61

10%

9%

42

Parenteral Drugs (India) Ltd.

Drug formulations

169.55

210.35

0.57

0.62

1.29

1.26

16.85

39.2

10%

19%

43

Welcure Drugs & Pharmaceuticals Ltd.

Drug formulations

20.07

26.44

0.81

0.91

2.61

4.08

0.04

-1.03

0%

-4%

44

Rusan Pharma Ltd.

CNS stimulant formulations

54.73

81.14

0.33

0.48

1.03

1.12

14.65

21.21

27%

26%

45

Anu'S Laboratories Ltd.

Drugs, medicines & allied products

104.01

145.02

0.75

0.83

3.18

4.51

21.71

35.58

21%

25%

46

Bafna Pharmaceuticals Ltd.

Drug formulations

34.5

39.6

0.88

0.87

1.19

1.07

1.86

2.11

5%

5% 13%

47

T T K Healthcare Ltd.

Drug formulations

211.49

200.86

0.68

0.68

5.01

7.59

10.26

25.86

5%

48

East India Pharmaceutical Works Ltd.

Drug formulations

77.82

88.37

0.51

0.50

2.89

2.90

5.87

7.92

8%

9%

49

Fulford (India) Ltd.

Drug formulations

143.15

165.89

0.72

0.64

26.82

30.64

21.12

35.17

15%

21%

50

Themis Medicare Ltd.

Drug formulations

167.68

220.79

0.74

0.67

1.80

1.97

20.27

25.6

12%

12%

51

Hester Biosciences Ltd.

Drugs, medicines & allied products

21.2

31.69

0.57

0.32

0.34

0.25

8.98

17.08

42%

54%

52

Zydus Animal Health Ltd.

Antibiotics

85.96

95.03

0.59

0.49

1.94

2.55

20.83

23.04

24%

24% 11%

53

Sandu Pharmaceuticals Ltd.

Ayurvedic & unani medicaments

11.89

13.44

0.29

0.26

0.50

0.50

1.78

1.42

15%

54

Jagsonpal Pharmaceuticals Ltd.

Drug formulations

129.34

150.1

0.61

0.62

1.79

2.01

11.94

13.24

9%

9%

55

Endo Labs Ltd.

Drugs, medicines & allied products

26.29

27.52

0.69

0.61

2.22

2.01

1.66

2.07

6%

8%

56

Ahlcon Parenterals (India) Ltd.

Drug formulations

49.15

45.97

0.47

0.51

0.73

0.58

15.01

13.22

31%

29%

57

Lincoln Pharmaceuticals Ltd.

Drug formulations

62.96

86.25

0.62

0.60

4.26

4.30

6.05

9.15

10%

11%

58

Transchem Ltd.

Drugs, medicines & allied products

78.42

30.11

0.61

0.65

1.49

1.09

4.18

8.24

5%

27%

59

P I Drugs & Pharmaceuticals Ltd.

Drugs, medicines & allied products

39.98

67.7

0.60

0.62

1.74

1.04

10.3

6.87

26%

10%

60

Indian Immunologicals Ltd.

Vaccines

156.92

191.96

0.37

0.35

0.79

0.98

38.49

57.84

25%

30%

61

Alved Pharma & Foods Pvt. Ltd.

Pharmaceutical products, nec

15.14

15.03

0.53

0.52

10.32

10.82

1.02

-1.54

7%

-10%

62

Advik Laboratories Ltd.

Drug formulations

8.73

10.24

0.86

1.18

1.40

2.42

0.69

0.23

8%

2%

63

Organon (India) Ltd.

Drug formulations

196.11

156.92

0.29

0.49

5.17

8.25

27.24

27.61

14%

18%

64

Lyka Labs Ltd.

Drug formulations

118.08

94.16

0.84

0.78

1.63

1.08

-8.52

10.68

-7%

11%

65

Vivimed Labs Ltd.

Drugs, medicines & allied products

125.49

155.03

0.76

0.67

1.71

1.08

24.85

28.81

20%

19%

66

Win-Medicare Pvt. Ltd.

Drug formulations

249.15

286.23

0.55

0.56

12.25

13.15

28.26

31.85

11%

11%

67

Lekar Pharma Ltd.

Drug formulations

20.69

25.4

0.97

0.64

23.38

21.61

0.84

2.58

4%

10% 16%

68

Resonance Specialties Ltd.

Drug formulations

18.87

20.71

0.66

0.59

0.68

0.63

3.28

3.23

17%

69

Concept Pharmaceuticals Ltd.

Drug formulations

83.92

103.68

0.68

0.68

2.26

2.68

7.21

8.59

9%

8%

70

Fermenta Biotech Ltd.

Drugs, medicines & allied products

27.39

31.23

0.46

0.53

1.30

1.00

5.93

6.81

22%

22%

71

Karnataka Antibiotics & Pharmaceuticals Ltd.

Drug formulations

121.69

186.94

0.79

0.86

4.17

6.41

7.89

10.86

6%

6%

72

Jenburkt Pharmaceuticals Ltd.

Drug formulations

35.7

38.71

0.67

0.59

3.79

3.74

3.57

3.75

10%

10%

73

Bayer Polychem (India) Ltd.

Drugs, medicines & allied products

11.18

43.27

0.50

0.77

6.75

1.54

-1.22

-6.59

-11%

-15%

74

Nagarjuna Herbal Concentrates Ltd.

Ayurvedic & unani medicaments

21.59

26.09

0.56

0.62

2.88

3.95

1.68

1.09

8%

4%

75

Suven Life Sciences Ltd.

Drugs, medicines & allied products

113.02

120.25

0.50

0.51

0.56

0.54

17.18

15.39

15%

13%

76

Smruthi Organics Ltd.

Drugs, medicines & allied products

53.59

54.18

0.89

0.88

1.90

1.93

8.55

8.56

16%

16% 11%

77

Flamingo Pharmaceuticals Ltd.

Drug formulations

122.72

146.49

0.79

0.73

2.08

2.08

13.22

15.59

11%

78

Gujarat Terce Laboratories Ltd.

Drug formulations

10.6

12.5

0.74

0.66

4.15

4.65

0.61

0.63

6%

5%

79

Ambalal Sarabhai Enterprises Ltd.

Drug formulations

90.56

62.59

0.98

1.22

0.97

0.89

-13.17

45.17

-15%

72%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

94

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

76.81

117.89

73.89

63.41

33.89

46.72

34.5

61.21

3.5

5.14

128.9

86.53

95.83

108.02

115.99

36.93

34.98

77.72

68.63

14.21

5.57

130.5

96.59

81.02

39.26

41.04

38.18

41.82

59.97

73.4

6.13

8.45

131.1

88.09

68.12

44.31

87.49

37.03

35.98

6.04

8.87

9.64

13.16

133.0

106.72

142.3

72.73

80.92

61.87

74.17

5.81

7.57

24.76

31.66

134.8

134.72

162.53

100.62

126.31

11406.25

3528.33

1.24

1.04

9.17

10.92

135.5

NA

142.96

105.42

146.05

NA

80.82

NA

5.86

NA

11.1

135.5

67.72

64.85

53.38

53.46

15.79

12.46

21.33

18.83

135.6

85.38

74.67

31.76

41.91

5.18

9.04

36.42

42.74

135.8

99.55

111.96

125.86

103.69

87.08

128.22

3.47

3.59

11.56

3.46

140.6

162.08

170.77

125.33

142.68

107.41

84.56

25.88

31.91

9.7

8.34

141.6

18.72

32.85

49.6

35.63

38.31

25.42

91.35

102.49

13.47

19.82

142.5

116.59

129

274.25

132.99

68.32

34.34

15.92

20.52

9.68

10.59

143.4

34.41

36.51

61.38

69.46

58.1

71.68

7.22

6.9

15.8

20.08

143.4

57.33

61.36

66.78

77.52

59.63

58.14

1.84

2.56

57.6

52.25

144.4

22.75

22.32

35.52

47.56

67.94

84.24

2.42

2.44

36.31

45.13

144.8

92.66

98.57

144.77

107.19

55.66

55.61

16.36

27.09

19.8

11.4

145.4

151.65

113.28

144.31

73.21

15.94

16.94

53.61

112.89

42.62

45.85

145.5

45.45

42.37

135.48

60.76

177.99

91.49

8.22

5.67

47.14

40.53

146.8

182.8

189.95

15.98

20.02

57.82

80.32

16.77

34.32

41.48

30.39

148.2

103.16

100.32

38.12

27.31

65.96

39.19

46.41

24.7

81.63

55.92

148.2

77.58

108.84

83.85

111.92

47.31

62.77

11.51

19.69

17.08

14.32

148.9

41.48

46.08

52.37

50.44

81.5

98.2

5.39

9.33

10.06

16.66

149.5

106.67

75.98

59.61

51.62

38.04

54.09

21.04

27.9

48.47

36.54

150.2

52.54

89.18

86.45

20.61

72.78

118.93

7.05

12.78

18.81

30.41

151.3

71.79

71.7

53.72

114.75

46.13

69.26

10.47

11.96

3.7

9.5

152.8

79.28

111.87

87.79

93.8

89.55

88.61

5.83

22.92

13.17

23.11

153.0

NA

78.2

82.52

102.56

NA

59.15

NA

6.81

NA

45.06

153.7

175.41

169.5

113.39

68.72

47.51

29.45

16.73

19.78

35.4

60.78

156.3

37.31

34.41

41.44

74.7

114.54

87.76

21.03

15.96

23.7

27.01

156.4

132

114.13

155.23

174.02

49.98

78.81

8.73

15.38

3.92

8.72

156.9

80.2

104.7

57.89

54.3

49.96

75.76

29.4

28.73

25.68

31.1

158.0

NA

35.83

74.42

68.67

NA

120.28

NA

3.38

NA

36.04

159.3

7.48

5.62

106.23

53.13

63.14

64.91

5.29

6.04

53.42

52.37

159.6

65.08

60.15

92.07

65.31

28.42

59.23

99.04

83.45

12.48

10.74

159.8

NA

121.22

64.28

60.9

NA

67.86

NA

38.27

NA

35.52

162.8

121.99

130.21

41.46

82.67

88.15

83.42

58.2

51.26

24.18

28.63

162.9

69.16

79.56

109.2

147.35

49.16

50.35

10.8

11.18

35.67

28.41

163.9

49.13

46.07

83.58

65.09

89.44

104.34

0.97

0.7

47.78

53.97

165.5

47.55

28.72

64.92

74.55

78.21

61.11

1.41

3.13

39.4

32.38

166.3

NA

71.67

80.76

79.54

NA

35.06

NA

22.55

NA

62.68

167.8

49.93

78.47

48.66

70.39

51.64

56.22

42.84

38.2

36.57

32.77

169.9

65.33

75.45

97.27

96.47

53

58.98

125.25

168.56

6.33

10.73

170.3

NA

88.44

88.2

102.2

NA

95.95

NA

21.7

NA

13.44

170.3

139.01

109.56

81.5

92.68

74.87

790.83

1.29

1.23

46.83

51.1

172.6

117.26

190.69

450.13

558.54

98.5

127.13

16.79

23.79

11.13

9.13

173.9

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

Drugs &

48.7 93.23

PhArMACEuTICAls

52.13 83.02

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

95


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

80

Ontop Pharmaceuticals Ltd.

Drugs, medicines & allied products

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

9.57

14.07

0.54

0.70

0.80

1.52

1.01

1.38

11%

10%

81

Albert David Ltd.

Drug formulations

138.72

156.21

0.48

0.41

1.21

0.88

28

22.76

20%

15%

82

Fresenius Kabi Oncology Ltd.

Drug formulations

301.98

255.54

0.43

0.34

0.80

0.44

41.36

168.72

14%

66%

83

Elder Health Care Ltd.

Drug formulations

49.59

68.88

0.71

0.65

4.63

3.16

2.32

3.1

5%

5%

84

Neuland Laboratories Ltd.

Salbutamol

206.1

222.49

0.77

0.73

2.41

1.37

20.6

23.56

10%

11%

85

Sven Genetech Ltd.

Amino acid liquids

17.14

24.4

0.45

0.36

0.13

0.09

6.68

10.27

39%

42%

86

Coral Laboratories Ltd.

Drug formulations

30.45

32.98

0.46

0.57

0.68

0.77

7.22

5.37

24%

16%

87

A B L Biotechnologies Ltd.

Empty capsules

10.84

17

0.42

0.64

0.34

0.73

3.11

3.17

29%

19%

88

Medley Pharmaceuticals Ltd.

Drug formulations

142.73

167.18

0.47

0.62

1.19

1.55

21.68

16.82

15%

10%

89

Ajanta Pharma Ltd.

Drug formulations

238.58

285.16

0.66

0.61

2.27

1.48

38.54

49.39

16%

17%

90

Hiran Orgochem Ltd.

Drugs, medicines & allied products

109.02

121.92

1.04

0.79

3.53

2.53

9.02

13.17

8%

11%

91

Hindustan Antibiotics Ltd.

Drugs, medicines & allied products

74.86

98.92

0.68

0.97

0.74

1.54

215.52

-4.83

288%

-5%

92

Alchem International Ltd.

Drugs, medicines & allied products

87.8

109.32

0.70

0.66

2.33

2.30

12.72

13.7

14%

13%

93

Pure Pharma Ltd.

Drugs, medicines & allied products

19.69

15.64

0.55

0.50

1.92

1.44

1.72

2.09

9%

13%

94

Natco Pharma Ltd.

Drug formulations

184.92

236.31

0.57

0.52

0.65

0.61

55.45

67

30%

28%

95

Krebs Biochemicals & Inds. Ltd.

Drug formulations

47.14

49.43

0.64

0.67

0.29

0.34

11.96

8.86

25%

18%

96

Span Diagnostics Ltd.

Drugs, medicines & allied products

53.32

61.32

0.61

0.50

2.12

1.62

6.01

9.01

11%

15%

97

Wintac Ltd.

Drug formulations

12.45

14.97

0.59

0.62

0.39

0.46

2.41

1.44

19%

10%

98

Morepen Laboratories Ltd.

Drugs, medicines & allied products

127.07

122.92

0.82

0.83

0.18

0.19

-112.65

7.8

-89%

6%

99

Bal Pharma Ltd.

Drug formulations

70.65

85.41

0.63

0.58

1.35

1.10

8.75

10.41

12%

12%

100

Gufic Biosciences Ltd.

Drug formulations

53.48

54.88

0.66

0.61

1.50

2.08

5.92

5.25

11%

10%

101

Panchsheel Organics Ltd.

Drugs, medicines & allied products

18.74

18.02

0.91

0.76

2.71

2.01

1.43

2.04

8%

11%

102

Emmellen Biotech Pharmaceuticals Ltd.

Ephedrines

52.7

56.82

0.69

0.66

1.47

1.59

7.79

1.92

15%

3%

103

Tonira Pharma Ltd.

Drug formulations

36.61

32.5

0.70

0.75

0.92

0.92

6.9

-5.27

19%

-16%

104

Bharat Serums & Vaccines Ltd.

Drugs, medicines & allied products

147.06

140.47

0.52

0.45

0.72

0.47

38.66

30.73

26%

22%

105

Kudos Chemie Ltd.

Caffeine & its salts

78.32

105.91

0.91

0.91

1.06

0.82

18.25

36.32

23%

34%

106

Kerala Ayurveda Ltd.

Ayurvedic & unani medicaments

15.43

17.28

0.59

0.57

0.63

0.70

0.36

-2.73

2%

-16%

107

Troikaa Pharmaceuticals Ltd.

Drugs, medicines & allied products

58.57

75.64

0.49

0.60

0.91

0.92

8.56

12.39

15%

16%

108

Capsugel Healthcare Ltd.

Empty capsules

20.59

11.04

0.81

1.42

0.32

0.28

-6.21

-21.81

-30%

-198%

109

Marksans Pharma Ltd.

Drugs, medicines & allied products

242.39

246.71

1.10

0.87

1.93

1.04

30.82

39.56

13%

16%

110

Z C L Chemicals Ltd.

Drugs, medicines & allied products

44.46

31.82

0.78

0.70

4.35

0.63

4.31

1.67

10%

5%

111

B D H Industries Ltd.

Drug formulations

20.05

14.97

0.73

0.63

0.93

0.58

2.38

1.93

12%

13%

112

Arch Life Sciences Ltd.

Drugs, medicines & allied products

11.22

24.27

1.27

0.87

1.07

0.73

1.9

2.5

17%

10%

electricAl mAchinerY 1

Elgi Ultra Inds. Ltd.

Grinders & mixers

55.91

65.64

0.70

0.71

10.65

7.35

2.57

3.37

5%

5%

2

Nippo Batteries Co. Ltd.

Dry cells

286.79

265.5

0.77

0.71

5.97

4.43

18.44

29.98

6%

11%

3

Best & Crompton Engg. Ltd.

Electrical machinery, nec

112.97

90.66

0.17

0.55

0.15

0.63

52

20.53

46%

23% 16%

4

Patels Airtemp (India) Ltd.

Electric appliances

40.87

53.91

0.65

0.67

3.37

4.45

4.96

8.83

12%

5

G E E Ltd.

Welding machinery

39.59

73.29

0.79

0.79

2.75

4.37

3.14

6.68

8%

9%

6

Panasonic Carbon India Co. Ltd.

Welding machinery

34.13

29.78

0.51

0.52

2.51

2.53

8.94

8.59

26%

29%

7

Amco Batteries Ltd.

Storage batteries

109.28

159.82

0.84

0.91

35.11

50.98

3.28

5.04

3%

3%

8

Tudor India Ltd.

Storage batteries

96.81

129.24

0.67

0.75

8.95

11.94

11.49

11.19

12%

9%

9

Modern Insulators Ltd.

Overhead line fittings

201.23

220.74

0.49

0.57

1.86

1.52

28.23

33.46

14%

15%

10

Starlite Lighting Ltd.

Lamps

4.08

22.69

1.08

0.85

0.20

0.91

7.27

3.37

178%

15%

11

Ador Welding Ltd.

Welding electrodes / sticks / wires / fluxes

277.69

273.01

0.60

0.64

2.35

2.05

47.33

44.54

17%

16%

12

D & H Welding Electrodes (India) Ltd.

Welding electrodes / sticks / wires / fluxes

29.68

37.51

0.83

0.82

4.80

5.33

4.88

4.54

16%

12%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

96

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

2.87

6.2

133.87

143.71

58.22

61.15

8.81

16.27

6.09

10.56

Composite Score

174.5

80.77

68.76

84.26

88.31

10.74

10.2

35.49

44.51

176.7

70.53

76.36

112.85

159.49

55.7

87.75

20.85

24.43

179.7

37.86

33.64

129.68

125.09

109.83

68.48

16.77

5.82

48.75

42.22

182.1

62.95

78.63

82.02

110.73

58.54

61.39

19.85

18.3

31.72

39.23

182.8

73.11

77.67

36.41

37.32

82.52

88.42

77.17

87.02

39.2

44.03

183.5

36.69

38.89

106.27

86.29

97.65

101.56

11.69

10.78

28.66

31.7

184.6

79.85

96.67

148.69

153.63

89.6

133.37

52.08

64.42

7.16

6.23

185.6

NA

54.98

82.01

95.79

NA

81.61

NA

7.22

NA

52.59

186.3

107.11

99.39

60.19

54.57

56.34

114.36

21.61

28.46

53.36

62.29

186.3

58.41

66.26

91.29

160.73

59.7

77.96

307.08

251.27

5.41

5.67

188.4

148.46

137.46

216.78

208.39

97.91

68.2

14.47

17.59

22.91

32.03

188.7

NA

55.24

136.64

129.47

NA

101.35

NA

244.31

NA

5.62

191.7

195.56

271.63

107.78

122.78

92.03

136.16

15.69

63.97

42.75

39.04

193.0

61.53

52.07

136.81

123.92

86.42

89.74

68.34

74.09

14.43

15.53

193.3

203.47

184.24

142.72

101.17

156.1

179.98

425.71

383.09

19.17

13.04

194.0

71.32

70.64

125.12

105.5

179.14

175.91

18.55

15.31

55.16

49.34

195.3

63.55

68.91

176.54

146.26

123.53

89.59

24.19

23.29

16.2

13.07

195.5

394.48

30.36

240.48

175.06

194.36

42.14

32.03

18.59

33.92

16.83

196.6

105.26

91.04

78.65

92.76

116.22

98.99

32.53

38.75

54.92

45.97

200.9

69.71

65.82

99.19

93.19

209.04

215.26

34.68

30.07

34.64

30.41

203.0

116.78

129.34

161.88

116.72

93.86

102.05

26.33

36.82

46.22

49.02

203.5

NA

70.77

76.53

124.69

NA

81.96

NA

175.85

NA

16.17

207.1

46.2

51.85

80.05

99.42

49.73

69.08

126.64

133.25

23.87

14.78

208.8

51.68

59.1

88.25

106.33

68.02

107.46

51.28

64.39

31.62

35.09

208.8

46.61

36.58

41.93

61.58

37.16

80.73

149.54

177.74

31.88

40.32

212.5

71.4

86.98

75.43

68.95

68.54

73.92

57.19

132.85

71.04

60.86

212.7

38.43

40.25

110.53

118.67

77.3

80.24

19.41

24.76

54.86

67.84

213.0

74.84

83.57

109

210.48

77.4

94.25

15.92

16.23

25.83

21.9

216.7

79.26

81.68

60.98

73.19

149.13

202.43

24.76

36.81

98.06

147.52

223.4

27.09

16.07

68.53

153.61

28.92

51.3

40.83

60.38

29.46

38.39

224.9

156

200.09

104.04

149.22

145.84

249.55

92.47

121.77

33.66

49.97

228.7

61.21

51.55

135.47

190.96

59.17

103.43

33.61

61.97

47.04

35.89

243.3

55.54

54.45

23.48

25.38

4.64

4.9

2.89

1.67

24.5

28.2

25.05

19.7

28.05

3.63

4.26

10.06

8.98

26.0

11.07

52.73

191.23

104.91

20.58

20.36

7.29

10.61

0.1

1.45

26.7 29.0

78.32

81.32

67.52

65.47

46.3

36.05

16.82

16.24

4.61

2.9

35.13

25.68

28.99

23.22

31.46

32.76

2.57

2.6

16.51

10.2

29.6

49.14

48.69

33.83

38.98

56.77

62.45

10.45

9.58

7.45

5.01

32.5

126.85

97.91

71.6

73.35

22.73

16.08

3.28

3.48

20.19

24.06

33.0

97.03

90.29

30.36

38.77

20.18

17.75

16.01

16.9

22.96

24.52

35.0

44

53.85

50.95

53.75

46.33

40.03

14.04

14.11

12.38

13.8

35.7

214.36

54.58

305.42

55.32

104.6

36.18

16.97

8.35

14.96

10.77

37.4

17.21

21.22

33.09

30.86

23.49

29.3

15.23

16.77

13.39

16.54

37.9

63.76

54.3

44.9

51.67

40.85

40.34

7.94

8.15

16.79

22.9

38.7

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

electricAl

49.37 43.87

MAChInEry

47.97 36.38

Drugs &

40.3 112.18

PhArMACEuTICAls

36.31 59.68

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

97


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

190.54

164.01

0.78

0.74

4.25

3.88

8.24

9.34

4%

6%

0.71

6.69

5.04

3.84

4.45

5%

6%

0.68

3.50

1.75

19.68

30.29

12%

13%

0.60

7.14

8.29

14.96

20.84

9%

10%

13

Panasonic Energy India Co. Ltd.

Dry cells

14

Panasonic Home Appliances India Co. Ltd.

Cooking ranges

74.06

80.39

0.72

15

W S Industries (India) Ltd.

Electrical insulators, nec

164.87

226.09

0.68

16

Hawkins Cookers Ltd.

Cookers

173.58

204.31

0.58

17

Frick India Ltd.

Commercial refrigerators

55.99

58.9

0.59

0.51

4.66

4.66

6.1

8.34

11%

14%

18

Dwekam Electrodes Ltd.

Welding electrodes / sticks / wires / fluxes

33.77

40.02

0.72

0.67

4.70

3.16

3.22

4.67

10%

12%

19

J S L Industries Ltd.

Electrical machinery other than electronics

23.91

27.24

0.81

0.74

2.21

2.35

1.57

1.75

7%

6%

20

Mazda Ltd.

Domestic appliances (Electro-mechanical)

52.51

59.68

0.59

0.64

2.98

3.33

8.58

10.76

16%

18%

21

High Energy Batteries (India) Ltd.

Storage batteries

22.48

18.47

0.58

0.72

1.89

1.56

3.08

2.27

14%

12%

22

Fluidomat Ltd.

Electro-magnetic couplings

9.42

12.21

0.70

0.59

1.96

2.15

2.09

2.47

22%

20%

23

Hind Lamps Ltd.

Electric filament or discharge lamps

66.76

78.26

0.91

0.86

2.65

3.09

-3.72

-3.49

-6%

-4%

24

Kanchan International Ltd.

Non-electric cooking appliances

25.48

26.85

0.90

0.79

3.84

3.75

-1.9

-4.38

-7%

-16%

25

Arklite Speciality Lamps Ltd.

Fluorescent lamps

9.89

11.03

0.85

0.97

1.57

1.89

0.37

0.67

4%

6%

26

Permanent Magnets Ltd.

Electro-magnets, permanent magnets, etc.

48.75

66.42

0.68

0.62

5.51

6.62

3.86

4.43

8%

7%

27

Polar Industries Ltd.

Fans

45.23

91.95

1.07

1.02

3.49

7.41

-18.17

-3.14

-40%

-3%

28

Webfil Ltd.

Filaments / electrodes

17.22

19.4

0.67

0.69

3.71

4.63

3.23

2.37

19%

12% 3%

29

Amco Saft India Ltd.

Storage batteries

18.06

20.81

0.72

0.78

9.96

10.51

0.18

0.64

1%

30

P K L Ltd.

Non-electric cooking appliances

26.36

26.75

0.76

0.69

1.87

1.63

1.53

1.96

6%

7%

31

Assam Carbon Products Ltd.

Carbon electrodes, blocks, etc.

41.66

28.41

0.60

0.72

1.28

1.11

7.02

-0.94

17%

-3%

electronics 1

Panasonic A V C Networks India Co. Ltd.

Television receivers, colour

131.27

135.35

0.83

0.85

10.18

12.19

6.31

8.15

5%

6%

2

Kavveri Telecom Products Ltd.

Broadcasting equipment

50.44

141.02

0.69

0.82

6.50

8.62

7.86

17.63

16%

13%

3

Circuit Systems (India) Ltd.

Printed circuit boards

37.94

38.69

0.59

0.56

0.90

0.60

6.24

6.65

16%

17%

4

Hind Rectifiers Ltd.

Semiconductor devices

87.78

102.05

0.69

0.70

5.46

5.92

19.41

20.86

22%

20%

5

Lakshmi Electrical Control Systems Ltd.

Control panels

70.19

119.85

0.69

0.76

2.57

5.49

15.75

24.39

22%

20%

6

T V S Electronics Ltd.

Computer peripherals

271.36

207.92

0.68

0.65

5.40

5.61

18.11

25.37

7%

12%

7

Easun Reyrolle Ltd.

Electronic relays

133.89

187.49

0.66

0.68

4.13

4.42

32.44

38.13

24%

20%

8

Ruttonsha International Rectifier Ltd.

Semiconductor devices

11.26

14.01

0.74

0.75

6.47

8.89

1.36

1.74

12%

12%

9

Exicom Tele-Systems Ltd.

Switch mode power supply systems

45.84

70.89

0.70

0.72

5.38

8.64

0.93

11.64

2%

16%

10

Krone Communications Ltd.

Communication & broadcasting equipment

83.25

96.61

0.80

0.71

6.91

7.05

12.16

14.63

15%

15%

11

F C I Oen Connectors Ltd.

Connectors

194.65

230.64

0.74

0.70

2.06

2.31

39.87

67.52

20%

29% 22%

12

Tibrewala Electronics Ltd.

Capacitors

47.69

49.48

0.72

0.65

1.06

1.21

7.42

10.79

16%

13

Chemtrols Industries Ltd.

Level sensors & indicators

75.51

151.15

0.71

0.72

3.86

6.54

6.21

11.92

8%

8%

14

Chemito Technologies Pvt. Ltd.

Chromatographs

36.97

43.55

0.63

0.65

7.45

7.89

4.53

5.66

12%

13%

15

Portescap India Pvt. Ltd.

Other electronic components

149.48

147.09

0.64

0.45

4.95

3.82

41.16

35.15

28%

24%

16

Kaycee Industries Ltd.

Rotary switches

16.32

19.97

0.74

0.71

10.30

8.22

1.21

1.53

7%

8%

17

Uniword Telecom Ltd.

Amplifiers & PA systems

236.27

273.8

0.89

0.91

8.54

7.58

16.98

15.73

7%

6%

18

F C I Technology Services Ltd.

Connectors

27.32

52.82

0.40

0.64

0.58

0.63

6.77

5.42

25%

10%

19

Poly Medicure Ltd.

Medical equipment

84.73

94.32

0.56

0.56

0.91

0.90

16.88

19.06

20%

20%

20

Salzer Electronics Ltd.

Rotary switches

59

70.13

0.68

0.66

1.85

1.74

9.16

11.38

16%

16% 13%

21

Lipi Data Systems Ltd.

Line printers

125.11

162.37

0.80

0.73

4.05

3.58

11.52

21.57

9%

22

Centenial Surgical Suture Ltd.

Surgical equipment

35.27

39.61

0.43

0.42

2.90

3.30

3.66

4.22

10%

11%

23

Ador Powertron Ltd.

Industrial electronics & automation equipment

56.65

109.12

0.68

0.77

5.47

7.91

9.39

14.29

17%

13% 37%

24

M I L Controls Ltd.

Control valves

39.86

56.08

0.57

0.56

4.45

3.83

11.71

20.84

29%

25

Sharp India Ltd.

Television receivers

129.35

91.68

0.98

0.57

9.84

3.88

4.7

2.21

4%

2%

26

Lubi Electricals Ltd.

Miscellaneous electronic equipment

73.15

85.57

0.55

0.56

5.20

5.43

5.17

6.99

7%

8%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

98

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

9.87

10.36

27.8

30.58

31.77

50.17

2.66

1.62

9.57

15.11

39.6 40.3

19.9

24.44

33.46

51.66

21.29

27.82

9.18

12.17

19.17

23.09

97.72

89.42

83.62

100.76

50.31

42.82

38.94

25.73

7.85

7.02

40.7

34.96

35.67

57.09

59.25

29.13

35.08

29.07

31.91

18.76

14.95

40.8

110.3

106.16

82.08

90.26

29.68

30.05

2.72

4.03

42.3

23.48

45.65

29.91

52.5

55

20.1

16.44

18.22

17.92

45.5

141.36

108.85

178.34

133.13

30.08

32.65

16.09

20.58

37.44

26.09

47.4

58.54

58.79

71.09

62.88

60.16

65.15

36.24

52.84

16.55

14.2

47.7

117.83

146.64

117.19

136.3

277.08

333.86

17.13

27.86

0

2.76

48.0

97.26

91.62

59.46

73.31

60.56

66.33

69.96

51.46

16.52

16.75

49.6

30.02

24.82

66.19

68.6

39.2

41.01

3.28

2.7

26.02

27.09

51.3

NA

178.72

154.27

171.04

NA

50

NA

8.94

NA

29.89

51.5

70.14

91.91

139.93

103.4

62.63

64.47

26.02

27.92

7.21

15.33

54.9

46.56

41.5

133.11

155.75

148.76

123.69

91.48

92.7

9.11

8.02

55.1

566.12

185.2

356.57

285.91

46.26

34.66

63.75

38.62

58.09

47.47

56.1

232.45

205.4

159.29

123.27

412.59

322.12

185.72

157.09

29.81

26.72

57.9

80.03

103.73

74.28

132.42

70.99

55.85

30.86

33.36

35.07

37.96

57.9

28.26

30.69

935.42

989.83

45.62

53.34

15.49

25.34

34.63

41.5

63.1

118.58

161.63

108.54

144.72

93.9

131.33

41

58.83

19.22

22.36

63.5

22.22

30.18

34.18

25.76

13.28

16.68

0.53

0.3

2.69

0.71

38.2

143.37

93.83

174.74

52.84

11.94

5.91

0.05

0.54

28.95

9.29

38.7

109.02

122.22

63.83

49.43

54.76

69.95

11.82

12.58

0.61

0.51

45.3

82

96.67

63.42

55.48

45.76

47.26

23.38

20.14

2.59

3.25

45.3

43.33

45.28

40.53

67.77

45.91

39.15

12.1

9.1

1.21

1.47

46.2 49.4

110.08

58.94

59.53

53.33

49.38

3.77

2.21

13.4

12.67

124.06

87.13

94.91

44.36

35.94

11.52

10.78

10.6

10.5

49.7

127.24

122.24

61.3

55.75

54.88

53.46

47.03

30.64

1.16

0.83

52.6

519.56

193.46

372.04

147.38

50.6

30.08

39.39

38.35

8.17

3.3

55.7

88.88

85.79

67.21

75.05

43.03

47.31

1.24

1.44

18.47

24.69

58.6

62.77

56.19

79.15

60.5

41.58

41.59

19.29

18.08

6.82

7.04

59.3

112.23

105.55

43.35

42.29

52.34

46.03

16.53

17.93

19.19

18.03

59.5

98.54

94.61

105.19

123.45

61.68

48.75

33.83

22.07

0.56

0.15

60.7

108.93

113.46

103.52

81.58

52.84

55.58

33.25

33.36

6.03

3.96

61.1

NA

66.51

58.46

55.33

NA

176.38

NA

0.31

NA

14.65

63.6

93.53

91.37

71.08

88.78

41.32

30.78

13.27

15.6

19.03

14.81

63.8

69.54

83.34

57.21

63.6

17.18

31.47

19.41

17.01

13.24

11.21

64.8

65.4

64.16

78.47

110.35

42.94

64.78

3.12

1

1.5

4.97

65.9

39.4

47.48

61.36

61.6

65.75

83.23

9.57

12.38

4.81

6.7

67.2

68.1

83.41

55.41

40.16

44.94

60.69

28.7

31.1

4.64

8.63

68.4 69.3

72.22

67.45

52.56

63.05

44.65

41.19

12.42

8.54

48

41.6

104.7

98.83

123.57

109.66

98.37

68.08

3

2.93

20.74

25.4

69.9

80.85

53.86

107.22

88.76

20.22

15.4

46.64

34.26

15.46

10.37

72.8

74.9

65.49

74.06

86.97

73.12

81.09

12.12

12.74

15.35

16.2

74.6

96.45

108.75

87.2

67.41

46.07

77.89

2.62

2.51

47.21

59.37

75.3

61.45

62.2

78.16

80.79

55.41

58.88

29.62

27.08

9.28

11.2

76.3

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

electronics

102.5 118.64

electricAl

77.13

31.58

MAChInEry

60.73

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

99


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

27

At & S India Pvt. Ltd.

Printed circuit boards

28

Rexnord Electronics & Controls Ltd.

Instrument cooling fans

29

Sulakshana Circuits Ltd.

Printed circuit boards

30

Central Electronics Ltd.

Solar appliances

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

196.89

212.93

0.69

0.67

1.62

2.09

26.97

38.43

14%

18%

11.56

16.13

0.55

0.68

1.53

2.51

1.58

1.9

14%

12%

11.11

10.75

0.73

0.71

2.05

1.94

1.63

1.8

15%

17%

127.64

153.82

0.84

0.87

3.44

4.40

5.88

7.04

5%

5% 10%

31

Titan Energy Systems Ltd.

Solar modules

27.04

68.55

1.06

0.85

7.06

5.20

3.24

6.88

12%

32

Fine-Line Circuits Ltd.

Printed circuit boards

32.03

24.63

0.54

0.56

7.03

4.90

3.99

0.86

12%

3%

33

Accel Transmatic Ltd.

Other computer peripherals

33.03

39.06

0.59

0.65

3.07

1.77

7.82

7.4

24%

19%

34

Siemens Healthcare Diagnostics Ltd.

Medical equipment

75.24

54.88

0.65

0.72

3.92

2.47

39.96

10.03

53%

18%

35

Photon Energy Systems Ltd.

Solar appliances

35.59

72.97

0.77

0.90

3.79

7.16

2.62

5.85

7%

8%

36

V X L Instruments Ltd.

Computer terminals

72.74

93.53

0.93

0.95

14.87

3.55

-2.82

-5.23

-4%

-6%

37

Akasaka Electronics Ltd. [Merged]

Printed circuit boards

29.28

25.89

0.74

0.77

1.71

1.72

4.4

4.53

15%

17%

38

Cosmo Ferrites Ltd.

Soft ferrites

31.45

31.64

0.50

0.60

0.51

0.57

7.59

5.16

24%

16%

39

Astra Microwave Products Ltd.

Microwave passive components

101.24

118.96

0.48

0.64

0.79

0.86

48.11

42.98

48%

36% 14%

40

Incap Ltd.

Electrolytic capacitors

13.65

11.73

0.73

0.81

2.44

2.56

1.62

1.68

12%

41

Precision Electronics Ltd.

Printed circuit boards

30.1

25.17

0.61

0.88

0.98

0.92

6.67

2.12

22%

8%

42

Shyam Telecom Ltd.

Transmission equipment

323.07

222.45

0.64

0.85

3.52

4.76

-10.97

17.38

-3%

8%

43

Mro-Tek Ltd.

Communication & broadcasting equipment

115.38

139.33

0.54

0.84

2.21

4.22

17.09

24.37

15%

17%

44

Aplab Ltd.

Power control equipment

103.18

116.12

0.75

0.77

4.74

4.74

8.7

11.75

8%

10%

45

Spice Mobiles Ltd.

Cordless phone

209.6

290.01

0.90

0.82

36.70

48.94

6.64

19.57

3%

7%

46

Uptron Powertronics Ltd.

Rectifiers, battery charging

6.99

13.75

0.92

0.87

1.23

2.33

0.74

3.41

11%

25%

47

S P E L Semiconductor Ltd.

Integrated circuits

54.88

75.98

0.55

0.54

0.45

0.36

12.8

21.01

23%

28%

48

Mahindra Hinoday Inds. Ltd.

Passive components

246.97

251.32

0.62

0.78

1.01

1.14

33.32

17.32

13%

7% 15%

49

Star Circlips & Engineering Ltd.

Other miscellaneous items

26.62

27.63

0.76

0.78

1.82

1.92

3.33

4.03

13%

50

Instrumentation Ltd.

Control instrumentation & industrial electronics

220.46

234.22

0.72

0.76

12.75

15.05

11.92

13.43

5%

6%

51

B P L Ltd.

Television receivers

117.35

111.97

0.73

0.73

0.49

0.50

3.09

-112.7

3%

-101%

52

Arraycom (India) Ltd.

Resistors, nec

38.78

15.02

0.87

0.59

2.65

0.90

5.89

3.98

15%

26%

53

Punjab Communications Ltd.

Communication & broadcasting equipment

41.89

17.39

0.93

0.76

4.30

1.60

-5.44

-1.44

-13%

-8%

54

Asian Electronics Ltd.

Electronic components

370.84

219.53

0.57

0.87

2.55

3.25

99.92

-122.71

27%

-56%

ferrous metAls 1

U I C Inds. Ltd.

Wires & ropes of iron & steel

20.23

18.76

0.93

0.94

9.01

9.39

0.66

0.64

3%

3%

2

Rolcon Engineering Co. Ltd.

Chains & anchors of iron & steel

24.12

30.76

0.64

0.62

5.12

4.64

2.21

3.47

9%

11%

3

Unison Metals Ltd.

Cold rolled coils, strips, sheets

24.79

38.46

0.89

0.88

10.04

8.97

0.77

1.29

3%

3%

4

Metal Coatings (India) Ltd.

Articles of iron & steel

88.98

113.58

0.92

0.94

11.12

14.07

2.62

4.19

3%

4%

5

Sri Rama Vilas Service Ltd.

Articles of iron & steel

19.91

22.1

0.46

0.47

13.41

8.79

5.45

5.62

27%

25%

6

Shakti Met-Dor Ltd.

Metal furnitures & fixtures

58.15

69.08

0.57

0.56

2.15

1.71

17.27

20.82

30%

30%

7

yashraj Containeurs Ltd.

Reservoirs, tanks & other fabrications

52.46

104.95

0.78

0.86

1.26

2.68

11.31

11.97

22%

11%

8

Rajratan Global Wire Ltd.

Wires & ropes of iron & steel

96.41

107.09

0.77

0.85

1.58

1.96

10.51

9.15

11%

9% 20%

9

Eurocoustic Products Ltd.

Metal furnitures & fixtures

23.59

20.39

0.57

0.59

6.98

5.53

5.25

4.14

22%

10

Andhra Ferro Alloys Ltd.

Ferro chromium

84.05

125.01

0.83

0.81

4.71

5.89

4.92

13.26

6%

11%

11

A P W President Systems Ltd.

Miscellaneous articles of base metals

98.79

131.2

0.65

0.70

2.28

2.69

14.1

18.39

14%

14%

12

Coventry Coil-O-Matic (Haryana) Ltd.

Coil springs

34.33

35.94

0.73

0.75

2.46

3.07

2.18

0.53

6%

1%

13

Garg Furnace Ltd.

Stainless steel ingots

161.83

162.06

0.94

0.94

33.50

31.84

2.71

3.04

2%

2%

14

J V Strips Ltd.

Cold rolled coils, strips, sheets

137.65

148.4

0.92

0.95

13.15

15.71

4.13

4.56

3%

3%

15

U I C Udyog Ltd.

Wires & ropes of iron & steel

140.81

199.85

0.86

0.87

2.28

3.13

16.91

29.41

12%

15%

16

Rajasthan Cylinders & Containers Ltd.

LPG cylinders & other gas containers

23.52

29.95

0.75

0.66

1.62

2.02

0.6

2.06

3%

7%

17

Nova Iron & Steel Ltd.

Sponge iron

116.59

157.98

0.95

0.89

4.18

5.91

1.72

896.63

1%

568%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

100

february 28, 2010 | industry 2.0

- technology management for decision-makers

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

30.8

32.38

79.45

87.77

105.6

97.4

13.12

10.87

5.23

5.49

Composite Score

76.6

85.04

75.52

129.83

123.36

62.08

38.28

104.06

91.51

9.84

5.54

76.7

121.24

127.25

107.55

85

107.13

96.08

10.71

17.7

13.08

11.54

76.8

104.38

127.95

109.17

140.95

50.64

35.06

15.29

21.02

11.33

17.32

77.2 77.6

80.89

64.01

129.46

104.18

50.49

0

1.91

42.6

28.97

68.64

34.29

47.67

53.99

84.37

16.24

19.39

6.1

14.01

77.9

99.24

98.8

79.45

67.45

175.05

92.29

17.75

35.58

15.29

8.81

79.5

46.26

76.56

46.61

86.47

68.3

70.9

9.01

13.96

14.57

24.67

80.0

40.32

24.59

59.79

147.03

48.82

74.23

9.12

9.69

13.92

4.63

80.3

94.3

125.07

76.45

134.78

64.88

41.65

49.49

41.91

5.09

7.91

82.5

NA

47.67

40.76

59.19

NA

71.65

NA

23

NA

11.93

83.3

40.29

41.89

41.77

44.38

72.61

72.75

23.12

23.28

9.89

19.08

85.5

138.45

196.71

220.2

150.84

157.15

122.7

77.77

69.41

1.8

8.33

85.7

62.31

70.73

37.4

59.48

118.46

121.52

3.83

7.73

37.13

39.62

85.8

102.73

105.22

39.2

73.83

101.11

77.3

40.08

131.89

1.05

1.51

85.8

74.26

129.07

138.67

200.61

18.38

180.17

2.87

23.73

1.39

3.26

85.9

73.26

73.17

80.33

111.33

74.97

53.28

21.13

14.54

58

43.84

86.0

93.35

82.84

86.56

75.82

105.31

103.28

25.73

24.91

4.74

9.09

86.3

52.88

44.65

54.6

83.66

53.86

92.91

11.57

9.15

25.39

28.93

89.6

275.06

168.48

389.78

337.29

0

6898.5

188.14

137.22

2.4

1.4

91.7

20.96

21.9

77.29

164.01

117.86

84.75

50.72

49.68

9.95

3.83

91.8

NA

74.09

95.72

90.02

NA

40.28

NA

30.07

NA

29.28

93.9 95.6

73.09

76.05

85.87

84.52

70.46

73.42

21.32

32.8

14.11

20.45

184.83

234.52

155.1

198.97

228.44

165.4

116.91

90.61

17.99

15.57

99.0

69.34

83.18

384.62

355.8

64.25

60.42

34.67

15.36

15.66

40.32

100.2

100.12

267.32

30.23

85.62

466.39

288.68

188.1

226.74

20.32

47.81

100.7

344.97

889.05

202.61

469.72

84.3

360.7

8.08

13.14

35.83

81.96

105.3

218.5

550.24

82.81

167.79

84.82

181.17

50.76

125.01

19.4

83.8

120.1

71.69

103.57

8.82

48.98

0.69

0.68

2.41

2.5

1.96

0.96

78.4

43.01

39.16

78.57

65.93

20.74

21.42

3.55

3.39

0.27

0.11

93.1

25.22

16.22

10.48

10.97

3.47

5.78

3.32

3.27

96.8

3.66

4.59

12.2

16.78

8.85

9.15

1.87

1.62

100.3

72.29

70.24

68.44

70.28

5.98

3.92

7.53

10.75

11.62

9.37

100.6

58.78

77.07

43.19

37.05

70.29

66.14

0.17

1.45

2.02

1.42

102.1

55.13

77.17

71

50.63

21.99

25.58

16.11

4.57

2.15

1.79

102.5

73.36

74.98

8.4

7.74

42.14

31.16

0.49

1.6

4.55

3.98

104.3

72.78

110.41

111.14

115.33

25.07

58.57

3.01

6.32

0.52

0.69

108.4

NA

15.6

53.15

38.29

NA

39.07

NA

0.07

NA

0.19

109.4

73.23

65.39

57.94

54.91

20.53

17.19

13.51

11.21

2.62

3.71

110.3

41.86

43.72

33.18

44.34

25.54

22.65

6.31

8.69

0.44

0.5

115.2

48

69.81

32.35

68.63

23.87

27.05

0.4

0.22

6.43

6.19

118.7

35.37

36.3

2.91

3.11

29.32

22.72

11.9

12.05

1.16

1.18

120.4 126.7

65.2

82.79

38.62

18

35.97

32.55

19.47

28.02

1.92

2.64

46.21

45.32

31.75

18.33

17.17

15.17

10.65

11.07

8.97

7.96

126.7

21.09

15.68

63.44

63.86

10.56

17

2.8

2.52

12.22

9.21

130.0

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

source: CMIE Prowess database

industry 2.0

ferrous

51.66 48.03

METAls

71.24 57.97

electronics

92.67 48.26

- technology management for decision-makers | february 28, 2010

101


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

18

Electrical Manufacturing Co. Ltd.

Heavy structurals (Bridges & bridge sect,

114.47

201.57

0.82

0.88

2.94

7.46

5.72

30.41

5%

15%

19

Unique Structures & Towers Ltd.

Structures

68.18

62.1

0.83

0.81

9.83

8.30

3.53

4.73

5%

8%

20

Sanghvi Forging & Engg. Ltd.

Forgings

18.9

22.36

0.69

0.70

2.15

1.67

3.83

5.36

20%

24%

21

British Scaffolding (India) Ltd.

Medium structurals (Scaffolding, shuttering,

86.11

101.96

0.81

0.87

5.95

6.80

12.22

8.73

14%

9%

22

North India Wires Ltd.

LPG cylinders & other gas containers

25.61

30.94

0.91

0.87

16.31

20.40

1.07

1.41

4%

5%

23

Modern Steels Ltd.

Bars & rods

278.1

289.6

0.65

0.69

3.91

3.43

21.06

17.49

8%

6%

24

Anjaney Ferro Alloys Ltd.

Ferro alloys

80.28

113.33

0.78

0.71

4.05

3.42

9.21

26.1

11%

23%

25

Baheti Metal & Ferro Alloys Ltd.

Ferro alloys

61.99

69.68

0.95

0.93

24.02

25.50

1.68

2.18

3%

3%

26

Bansal High Carbons Pvt. Ltd.

Wires & ropes of iron & steel

96.28

97.28

0.97

0.92

18.42

13.34

2.36

3.32

2%

3%

27

Real Strips Ltd.

Stainless steel flat rolled products

79.37

111.91

0.78

0.87

1.79

2.49

10.09

12.29

13%

11%

28

Allied Strips Ltd.

Cold rolled coils, strips, sheets

106.65

155.31

0.96

1.00

9.35

13.87

3.46

7.51

3%

5%

29

Investment & Precision Castings Ltd.

Castings

65.13

62.21

0.36

0.40

1.19

1.37

16.04

12.71

25%

20%

30

Varsha Forgings Ltd.

Forgings

18.04

16.78

0.82

0.73

8.09

6.35

2.22

1.55

12%

9% 13%

31

Pawanjay Sponge Iron Ltd.

Sponge iron

29.74

41.01

0.83

0.82

1.47

1.74

4.23

5.39

14%

32

British Scaffolding International Ltd.

Medium structurals (Scaffolding, shuttering,

28.35

22.68

0.70

0.63

5.17

1.93

3.31

2.13

12%

9%

33

Bundy India Ltd.

Bundy tubes

68.59

74.3

0.71

0.73

1.55

1.41

7.58

7.85

11%

11%

34

Rajasthan Tube Mfg. Co. Ltd.

Tubes & pipes

55.06

60.32

0.98

0.94

15.30

17.89

1.81

2.09

3%

3%

35

Sponge Iron India Ltd. [Merged]

Sponge iron

57.61

60.51

0.74

0.64

2.28

2.00

7.35

11.31

13%

19%

36

India Tube Mills & Metal Inds. Ltd.

Reservoirs, tanks & other fabrications

40.1

88.94

0.79

0.88

14.60

19.63

4.44

6.47

11%

7%

37

Ashirwad Steels & Inds. Ltd.

Sponge iron

42.43

54.22

0.97

0.87

2.77

3.17

0.51

5.51

1%

10%

38

Southern Ispat & Energy Ltd.

Stainless steel bars & rods

29.92

41.39

1.13

0.80

14.05

19.26

0.26

0.82

1%

2%

39

Minex Metallurgical Co. Pvt. Ltd.

Wires & ropes of iron & steel

216.04

221.99

0.90

0.78

9.01

8.21

16.11

20.17

7%

9%

40

Stainless India Ltd.

Stainless steel ingots

108.31

52.09

0.94

0.97

4.37

2.41

-23.15

-15.78

-21%

-30%

41

Sarthak Industries Ltd.

LPG cylinders & other gas containers

30.68

61.51

0.92

0.93

4.11

20.37

1.89

2.17

6%

4%

42

D-M-E Company (India) Pvt. Ltd.

Other springs

11.15

12.87

0.50

0.52

0.76

0.93

3.28

3.45

29%

27%

43

Anil Special Steel Inds. Ltd.

Flat products

92.35

94.09

0.77

0.78

1.90

2.00

12.14

8.15

13%

9%

44

Steelcast Ltd.

Steel castings

101.09

117.98

0.53

0.57

2.27

1.99

20.76

18.18

21%

15%

45

Magna Electro Castings Ltd.

Steel castings

47.96

56.12

0.41

0.49

0.65

0.89

11.87

11.57

25%

21%

46

Bhandari Foils & Tubes Ltd.

Tubes & pipes

192.22

190.83

0.72

0.83

6.18

5.27

11.2

13.41

6%

7%

47

Uni Abex Alloy Products Ltd.

Tubes & pipes

61.5

62.49

0.69

0.77

12.38

7.76

7.07

6.66

11%

11%

48

Hindustan Files Ltd.

Files

28.89

35.56

0.64

0.70

5.25

7.02

3.25

2.44

11%

7%

49

Mahindra Forgings Ltd.

Forgings

214.53

219.59

0.70

0.72

0.82

0.55

22.89

30.63

11%

14%

50

Gandhi Special Tubes Ltd.

Tubes & pipes

60.82

77.27

0.47

0.47

0.75

0.73

23.29

31.52

38%

41%

51

North Eastern Tubes Ltd.

Tubes & pipes

48.06

50.96

0.82

0.90

10.59

13.18

2.79

3.03

6%

6%

52

Sova Ispat Alloys Ltd.

Ferro silico manganese

97.33

123.68

0.89

0.83

11.35

14.84

8.75

13.34

9%

11%

53

Modinagar Rolls Ltd.

Flat products

9.66

13.27

0.59

0.63

1.62

1.70

0.95

1.41

10%

11%

54

Haryana Foils Ltd.

Cold rolled coils, strips, sheets

49.74

55.56

0.96

1.02

15.76

19.16

1.53

1.88

3%

3%

55

Bedmutha Wire Co. Ltd.

Wires & ropes of iron & steel

71.34

113.48

0.82

0.82

7.98

4.46

3.78

11.22

5%

10%

56

Sterling Tools Ltd.

Screws, bolts, nuts, rivets, washers, etc.

139.31

155.46

0.62

0.57

1.21

1.15

19.98

23.5

14%

15%

57

Garg Inox Ltd.

Stainless steel wires

150.58

171.16

0.88

0.88

9.44

4.70

7.18

10.62

5%

6%

58

Nagreeka Foils Ltd.

Other articles of iron & steel

35.34

58.89

0.73

0.81

2.09

4.27

5.4

9.52

15%

16%

59

Dewas Metal Sections Ltd.

Heavy structurals (Bridges & bridge sect,

57.22

60.57

0.87

0.85

5.40

4.90

4.35

4.44

8%

7%

60

Facor Alloys Ltd.

Ferro alloys

165.84

231.94

0.76

0.60

7.25

12.70

18.16

82.23

11%

35%

61

Ambey Metallic Ltd.

Sponge iron

39.87

50.19

0.88

0.83

5.46

5.70

2.72

5.88

7%

12%

62

Stelco Strips Ltd.

Cold rolled coils, strips, sheets

173.98

183.19

0.98

0.99

5.03

5.40

11.46

15.26

7%

8%

63

Upper India Steel Mfg. & Engg. Co. Ltd.

Bars & rods

188.36

180.5

0.87

0.88

3.93

3.97

8.16

9.25

4%

5%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

102

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

63.96

97.3

229.67

224.67

13.71

30.14

1.29

8.17

0.2

5.78

73.12

92.97

49.28

39.28

18.92

27.04

3.95

5.18

10.85

19.92

131.5

62

64.83

61.84

27.69

20.84

30.93

56.65

68.25

2.57

1.12

132.0

48.03

56.04

9.93

15.34

21.33

13.34

10.29

11.07

12

14.7

132.2

130.1

8.75

15.06

NA

43.72

NA

3.72

NA

6.81

132.5

45.21

29.25

20.99

31.05

33.97

9.17

9.05

12.28

7.52

133.2

13.85

11.97

11.75

17.66

79.25

59.21

0.74

0.63

7.37

7.09

135.4

34.86

29.75

8.63

0.05

37.68

42.02

3.55

4.1

6.16

4.59

136.2

23.61

27.87

4.97

11.22

29.81

39.88

4.36

6.19

3.13

3.66

136.4

49.86

59.16

24.16

29.9

23.08

19.34

28.75

24.2

6.72

5.9

137.4 137.6

53.78

48.7

39.49

22.09

20.91

19.18

22.85

25.13

3.45

4.47

96.06

92.46

32.37

23.6

49.25

53.75

22.74

24.38

9.04

6.3

137.9

74.77

96.57

50.09

15.37

36.79

42.52

20.99

15.41

6.25

12.77

140.5

30.58

41.15

35.09

32.12

153.12

110.86

0.44

0.26

2.51

2.23

142.6

109.07

156.37

37.52

31.38

51.83

60.96

21.3

33.27

0.64

1.31

142.8

50.27

83.22

99.49

121.77

48.96

42.44

10.94

9.52

2.18

1.63

143.3

64.68

78.29

57.86

60.55

16.14

20.45

1

1.67

26.58

25

144.6

30.62

26.72

44.61

32.5

28.39

35.04

3.6

4.41

19.01

12.21

145.7

67.26

42.32

19.42

60.95

41.12

22.16

53.16

49.04

0.68

0.7

146.8

34.27

35.72

27.25

21.71

55.56

72.66

0.26

0.23

4.81

4.4

146.8

67.32

98.1

66.49

143.08

89.89

42.77

8.42

14.1

3.06

2.58

148.0

NA

64.92

45.75

26.62

NA

52.49

NA

2.14

NA

16.75

148.3

67.11

101.34

184.72

377.66

14.96

36.1

0.81

0.93

3.53

3.86

149.9

NA

165.04

173.35

330.76

NA

44.68

NA

15.49

NA

0.71

150.0

NA

94.58

102.87

61

NA

85.32

NA

8.35

NA

7.91

150.3 151.2

51.51

51.44

52.64

38.35

15.62

14.04

44.53

37.58

7.98

6.19

78.18

85.98

55.3

54.45

41.51

51.67

33.68

41.6

1.36

2.82

151.4

41.45

41.22

69.23

77.18

29.54

36

0.73

11.94

13.85

6.68

151.4

59.61

76.81

70.98

84.11

2.79

2.9

42.29

26.5

5.95

9.14

151.8

53.35

60.94

67.31

59.54

31.31

27.54

61.23

71.12

3.32

4.3

155.3

20.74

18.01

54.45

59.1

35.51

29.9

8.07

12.87

12.7

7.5

156.1 156.9

35.98

42.11

52.11

82.96

52.35

34.46

11.9

19.22

5.55

1.7

47.19

38.64

31.51

26.33

125.35

127.7

15.96

16.3

1.47

2.25

157.0

33

45.86

30.91

42.26

21.39

26.61

10.54

15.22

11.2

11.64

158.3 158.8

NA

14.12

28.22

29.62

NA

75.98

NA

0.1

NA

9.58

98.38

89.94

108.05

102.9

24.41

29.25

29.35

29.99

3.52

5.74

159.1

NA

74.8

50.55

56.14

NA

19.04

NA

29.47

NA

8.96

159.5

49.41

39.4

5.91

25.43

49.41

53.92

19.28

11.56

7.67

6.91

160.7

57.23

61.89

46.67

40.17

34.71

42.21

14.88

17.75

12.58

11.19

160.8

NA

64.35

54.04

54.37

NA

16.39

NA

27.19

NA

11.48

161.6

116.93

52.74

45.24

55.34

133.04

43.39

32.85

27.88

9.19

5.37

161.6

NA

44.66

58.96

44.33

NA

33.92

NA

15.11

NA

10.55

163.0

10.91

23.85

49.83

70.3

79.65

77.67

2.6

1.56

11.01

13.55

164.0

19.18

17.3

75.17

81.36

62.42

77.65

0.26

0.3

2.36

4.2

164.8

39.16

35.3

34.42

35.38

28.09

24.26

27.05

68.29

1.4

2.6

166.9

53.54

55.22

79.62

26.67

24.98

34.97

6.51

9.83

16.77

17.41

167.1

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

ferrous

43.09

METAls

NA 43.13

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

103


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

218.07

273.92

0.84

0.80

4.07

4.41

20.89

34.67

10%

13%

Wires & ropes of iron & steel

91.86

112.21

0.93

0.85

10.67

5.13

2.71

5.53

3%

5%

Steel castings

24.64

30.77

0.78

0.76

8.03

8.52

4.97

5.74

20%

19%

Other fabricated metal products

195.73

238.8

0.65

0.68

1.46

1.72

33.32

50.08

17%

21%

64

Suraj Stainless Ltd.

Tubes & pipes

65

Bansal Wire Inds. Ltd.

66

Gujarat Intrux Ltd.

67

Harsha Engineers Ltd.

68

Raipur Rotocast Ltd.

Articles of iron & steel

35.91

33.87

0.77

0.78

13.40

16.57

1.92

2.79

5%

8%

69

S T I Sanoh India Ltd.

ERW tubes & pipes

71.17

88.89

0.61

0.60

1.46

1.75

11.97

15.99

17%

18%

70

Vishal Malleables Ltd.

Castings

59.16

61.71

0.74

0.80

2.66

2.70

3.14

3.84

5%

6%

71

Bhawani Industries Ltd.

Tubes & pipes

227.09

251.44

0.94

0.91

7.05

6.35

11.12

15.57

5%

6%

72

Vignyan Industries Ltd.

Castings & forgings

20.92

28.57

0.64

0.60

4.29

5.31

1.82

2.17

9%

8%

73

Chase Bright Steel Ltd.

Bars & rods

11.25

14.82

0.89

0.93

4.54

6.60

0.38

0.55

3%

4% 20%

74

Mahalaxmi Seamless Ltd.

Seamless tubes & pipes

27.88

35.61

0.77

0.58

3.57

2.66

3.91

6.96

14%

75

J V R Forgings Ltd.

Forgings

55.74

79.86

0.76

0.77

5.10

4.30

4.28

4.93

8%

6%

76

Oswal Industries Ltd.

Steel castings

23.62

51.14

0.57

0.75

0.78

1.62

4.84

11.54

20%

23%

77

Tamboli Castings Ltd.

Castings

11.5

21.68

0.49

0.54

1.03

1.28

2.65

5.6

23%

26%

78

Graham Firth Steel Products (India) Ltd.

Cold rolled coils, strips, sheets

1.87

13.62

1.96

0.98

1.07

3.56

-1.1

-1.65

-59%

-12%

79

Simplex Castings Ltd.

Castings

135.5

149.83

0.65

0.68

2.16

2.08

16.27

19.76

12%

13%

80

Gunnebo India Ltd.

Metal furnitures & fixtures

116.72

80.49

0.72

0.63

6.80

3.44

-18.22

3.83

-16%

5%

81

Billets Elektro Werke Ltd.

Tools, implements, etc.

29.98

37.05

0.69

0.59

6.28

3.30

3.46

7.04

12%

19%

82

J K Talabot Ltd.

Files

2.13

13.14

1.46

0.54

0.15

0.36

-0.83

2.8

-39%

21% 9%

83

Unitech Power Transmission Ltd.

Heavy structurals (Bridges & bridge sect,

84.17

68.01

0.64

0.97

4.81

4.64

9.87

6.33

12%

84

Lamina Foundries Ltd.

Cast iron castings

39.03

40.48

0.72

0.77

6.10

4.38

3.18

2.89

8%

7%

85

Nile Ltd.

Other fabricated metal products

80.48

114.97

0.80

0.83

4.09

5.95

8.33

14.01

10%

12%

86

Castron Technologies Ltd.

Ferro alloys

10.14

18.56

0.93

0.63

2.42

2.04

0.74

3.09

7%

17%

87

G M R Ferro Alloys & Inds. Ltd.

Ferro chromium

136.13

141.43

0.52

0.88

2.59

4.99

5.98

11.73

4%

8%

88

Richardson & Cruddas (1972) Ltd.

Structures

54.47

63.18

0.22

0.24

0.85

1.14

-7.29

-26.77

-13%

-42%

89

Hoganas India Ltd.

Granules & powders of pig iron, etc.

90.95

120.68

0.84

0.77

3.54

3.46

14.97

15.69

16%

13%

90

Uni Deritend Ltd.

Castings

85.34

94.17

0.54

0.62

2.81

2.91

15.78

15.38

18%

16%

91

Thangam Steel Ltd.

Semi-finished Steel

26.27

81.08

1.02

0.85

8.84

15.35

1.4

3.17

5%

4%

92

India Steel Works Ltd.

Bars & rods

84.37

249.07

0.83

1.07

0.35

1.33

25.51

31.23

30%

13%

93

Jash Engineering Ltd.

Table, kitchen articles of iron & steel

23.63

33.79

0.69

0.69

1.67

1.86

3.49

5.14

15%

15%

94

Sree Metaliks Ltd.

Sponge iron

232.81

296.93

0.69

0.69

0.79

0.84

42.99

88.15

18%

30% 22%

95

Indsil Hydro Power & Manganese Ltd.

Ferro silicon

34.87

52.71

0.46

0.62

0.28

0.60

10.58

11.75

30%

96

Binjrajka Steel Tubes Ltd.

Tubes & pipes

34.41

37.68

1.10

1.05

10.85

13.00

0.42

0.75

1%

2%

97

Gemini Steel Tubes Ltd.

ERW tubes & pipes

60.95

38.45

0.76

0.95

2.52

1.46

6.09

5.77

10%

15%

98

Bihar Sponge Iron Ltd.

Sponge iron

162.96

195.99

0.90

0.88

1.13

1.40

6.27

32.95

4%

17%

99

Inox India Ltd.

Reservoirs, tanks & other fabrications

130.92

193.85

0.62

0.61

2.55

2.28

30.78

41.48

24%

21%

100

Steel & Industrial Forgings Ltd.

Forgings

42.49

52.27

0.67

0.62

6.86

8.59

4.19

7.62

10%

15% 12%

101

Samrat Forgings Ltd.

Forgings

29.61

36.58

0.75

0.78

4.19

4.16

3.48

4.5

12%

102

Tayo Rolls Ltd.

Flat products

195.75

214.21

0.76

0.77

4.76

3.02

23.4

19.44

12%

9%

103

Gontermann-Peipers (India) Ltd.

Flat products

151.95

177.28

0.63

0.58

0.84

0.88

31.96

36.35

21%

21%

104

G K W Ltd.

Screws, bolts, nuts, rivets, washers, etc.

115.01

119.52

0.78

0.80

1.06

1.32

14.49

268.6

13%

225%

105

A M D Industries Ltd.

Crown caps

70.25

84.9

0.75

0.71

1.00

0.74

10.41

13.08

15%

15%

106

Impex Ferro Tech Ltd.

Ferro alloys

174.43

264.06

0.87

0.79

3.77

2.50

12.81

25.05

7%

9%

107

Ankit Metal & Power Ltd.

Finished Steel (Non-Alloy Steel)

194.85

283.83

0.89

0.89

1.50

1.56

24.12

52.71

12%

19%

108

Rajendra Mechanical Inds. Ltd.

Tubes & pipes

119.97

175.98

0.94

0.86

2.90

3.91

12.52

21.01

10%

12%

109

Scan Steels Ltd.

Stainless steel bars & rods

262.05

269.21

1.02

0.88

1.83

1.35

25.72

34.61

10%

13%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

104

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

25.57

28.1

42.51

17.6

41.16

42.98

8.37

7.31

27.05

18.78

167.2

30.34

25.17

16.74

15

44.9

56.32

5.6

9.78

8.14

7.87

168.4

62.83

56.84

55.53

49.55

35.76

38.39

19.88

20.75

25.5

24.38

168.9

NA

79.85

28.98

66.39

NA

85.75

NA

3.5

NA

14.96

169.1

36.49

33.24

24.42

50.2

16.69

26.08

9.58

10.45

169.9

79.6

58.34

61.3

65.13

11.7

10.2

8.77

9.54

170.3

45.13

53.14

74.45

81.69

22.31

21.39

19.02

15.44

9.94

13.13

170.4

27.83

33.8

9.01

9.82

42.24

52.19

3.49

9.21

11.23

10.76

170.5

3.88

9.1

49.68

49.89

47.04

36.2

70.21

60.6

0.55

2.53

171.0

41.05

32.32

60.23

72.41

24.45

16.19

5.84

15.56

8.15

10.07

171.5

53.46

48.67

62.41

66.67

25.57

52.01

41.59

32.63

6.57

8.13

176.4

NA

69.59

66.4

79.04

NA

41.78

NA

28.12

NA

7.8

177.4

NA

94.12

56.83

151.79

NA

27.42

NA

32.47

NA

13.12

177.4 180.7

81.89

93.64

71.51

37.31

39.22

38.83

54.97

43.13

6.34

39.9

343.13

80.45

583.83

234.27

134.67

32.65

9.75

6.72

44.64

12.1

181.1

67.91

79.24

71.98

86.48

55.84

64.86

39.58

37.41

4.96

3.91

181.6

109.59

125.62

82.81

102.33

30.53

37.34

16.65

19.3

14.38

22.95

183.3

29.1

36.15

69.73

68.54

8.66

20.65

80.29

74.59

29.6

15.46

183.4

31.44

9.24

211.68

66.77

210.27

75.78

69.06

25.28

2.17

1.39

183.6

104.34

160.4

92.94

129.64

36.49

38.28

17.76

6.01

47.95

73.08

184.4

26.4

27.26

96

95.18

25.69

27.27

90.42

80.61

1.56

2.4

186.1

43.7

31.79

55.57

40.09

57.57

49.76

89.84

73.35

0.95

4.52

186.9

82.67

31.61

194.45

78.72

294.93

184.67

4.04

0.43

24.39

14.09

189.7

NA

40.92

94.64

35.06

NA

118.55

NA

1.29

NA

19.09

190.2

334.08

300.83

324.99

288.76

63.17

62.7

124.11

196.47

0.8

1.05

192.8

42.66

35.52

62.05

49.91

39.95

38.03

21.53

15.92

37.61

39.46

192.8

90.01

95.97

72.06

67.49

81.05

83.57

49.98

60.76

12.36

9.56

193.0

62.3

47.09

48.31

72.83

41.56

88.77

16.49

10.07

47.44

9.74

194.1

85.52

41.43

109.43

95.15

41.25

35

0

22.72

1.41

7.74

197.5

NA

68.9

103.76

103.77

NA

71.83

NA

31.46

NA

6.82

199.4

NA

27.76

74.92

83.78

NA

63.17

NA

1.71

NA

28.41

199.4

37.09

17.68

126.45

53.02

276.94

173.4

2.87

1.64

51.98

24.29

202.3

NA

10.3

30.51

57.91

NA

32.69

NA

8.66

NA

39

203.3

64.95

91.31

46.03

72.5

24.32

24.54

20.28

68.93

12.44

25.93

205.8

10.55

10.36

47.32

81.36

69.62

44.61

0.55

0.52

28.55

46.3

206.0

26.79

27.77

105.73

104.95

73.7

72.11

100.83

104.91

2.9

2.34

206.3

80.76

82.77

105.18

142.09

134.52

166.85

31.14

25.26

18.6

15.56

207.0

33.76

42.05

92.56

96.69

69.52

62.05

66.57

89.64

2.28

4.3

208.9

69.26

59.68

96.3

86.04

40.52

43.15

32.51

35.91

14.24

14.14

209.3

66.61

67.42

73.75

90.96

48.97

68.99

19.4

23.67

23.93

21.41

209.8

58.06

75.48

204.71

128.61

73.44

69.54

61.31

56.76

12.24

8.51

212.9

84.31

68.41

151.93

97.12

136.66

134.18

26.78

16.72

14.88

11.44

213.4

28.35

23.13

78.79

85.23

323.14

240.27

51.82

20.52

4.8

3.39

213.7 215.4

45.12

38.1

97.49

75.92

205.07

155.09

14.06

8.46

6.21

13.68

34.76

42.61

70.18

43.51

49.3

44.4

94.96

83.35

16.17

15.65

215.6

32.5

37.29

57.38

55.36

78.49

65.33

7.5

10.32

20.1

22.58

216.4

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

ferrous

49.66 42.39

METAls

40.17 37.64

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

105


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

110

Company Name

Orient Steel & Inds. Ltd.

Industrial Activity

Hot rolled coils, strips, sheets

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

132.69

148.75

0.92

0.94

14.16

14.49

4.64

5.06

3%

3%

111

Shivalik Bimetal Controls Ltd.

Hot rolled coils, strips, sheets

63.04

73.45

0.56

0.59

1.80

2.28

12.47

12.18

20%

17%

112

I U P Jindal Metals & Alloys Ltd.

Cold rolled coils, strips, sheets

150.62

78.38

0.97

0.98

2.12

1.15

2.38

-14.09

2%

-18%

113

Mohindra Fasteners Ltd.

Screws, bolts, nuts, rivets, washers, etc.

41.7

50.24

0.65

0.65

1.19

1.21

6.53

8.64

16%

17%

114

De Nora India Ltd.

Miscellaneous articles of base metals, nec

22.77

21.32

0.26

0.34

0.75

1.01

8.69

7.04

38%

33%

115

Proseal Closures Ltd.

Stoppers, caps & lids (including crown caps)

31.24

36.75

0.74

0.61

2.14

2.11

3.57

5.07

11%

14%

116

Super Forgings & Steels Ltd.

Forgings

53.7

70.33

0.66

0.91

2.32

4.92

0.79

2.4

1%

3%

117

Porwal Auto Components Ltd.

Cast iron castings

28.18

35.72

0.79

0.83

0.79

0.90

2.71

4.66

10%

13%

118

Hilton Metal Forging Ltd.

Forgings

59.38

88.71

0.75

0.76

3.84

2.34

8.41

9.04

14%

10%

119

Ipisteel Ltd.

Bars & rods

18.78

37.91

1.05

0.86

2.59

4.44

2.93

1.03

16%

3%

120

Lakshmi Precision Screws Ltd.

Screws, bolts, nuts, rivets, washers, etc.

193.63

209.02

0.60

0.63

2.61

2.45

26.84

32.23

14%

15%

121

Raja Forgings & Gears Ltd.

Forgings

45.22

45.66

0.69

0.62

1.18

0.96

6.97

9.6

15%

21%

122

Taparia Tools Ltd.

Hand tools

91.27

112.21

0.68

0.86

15.28

24.99

4.9

6.31

5%

6%

123

Indian Steel & Wire Products Ltd.

Castings

97.25

79.27

0.62

0.66

0.65

0.59

12.12

-5.18

12%

-7%

124

Hindustan Everest Tools Ltd.

Hand tools

28.14

30.82

0.71

0.69

3.08

2.88

1.43

0.89

5%

3%

125

Shree Ganesh Forgings Ltd.

Forgings

97.12

110.47

0.97

0.93

2.59

1.96

11.9

1.83

12%

2%

fooD & BeverAge 1

Shaw Wallace & Co. Ltd. [Merged]

Liquors

212.95

204.13

0.26

0.28

3.24

1.49

99.58

94.19

47%

46%

2

Kothari Products Ltd.

Chewing tobacco, jarda, scented tobacco

213.56

227.24

0.24

0.40

2.02

3.82

94.47

78.6

44%

35%

3

Pearl Drinks Ltd.

Soft drinks

112.41

133.69

0.79

0.79

1.37

1.51

13.09

17.33

12%

13%

4

Ankur Protein Inds. Ltd.

Mustard oil

71.96

107.61

0.93

0.96

10.53

17.19

1.19

2.14

2%

2%

5

Nutrine Confectionery Co. Ltd.

Chocolate & sugar confectionery

152.92

141.39

0.47

0.49

3.03

3.30

14.5

12.22

9%

9%

6

Amrut Distilleries Ltd.

Indian made foreign liquors

98.68

136.4

0.38

0.29

8.34

8.28

6.54

11.12

7%

8%

7

G M Breweries Ltd.

Rectified spirit

172.96

185.64

0.42

0.36

1.35

1.03

22.05

26.95

13%

15%

8

Zydus Wellness Ltd.

Protein concentrates

43.58

57.49

0.60

0.54

3.49

1.82

7.05

7.88

16%

14%

9

S M Milkose Ltd.

Dairy products

74.06

78.95

0.91

1.00

26.45

35.82

1.64

1.71

2%

2%

10

Domino'S Pizza India Ltd.

Pizzas

137.84

209.98

0.48

0.49

1.36

1.30

16.04

26.43

12%

13%

11

Priya Food Products Ltd.

Biscuits

53.13

57.37

0.69

0.66

5.37

4.87

2.4

1.94

5%

3%

12

Southern Agrifurane Inds. Ltd.

Indian made foreign liquors

130.96

161.83

0.29

0.33

1.05

1.49

12.42

14.65

9%

9%

13

Devi Fisheries Ltd.

Shrimps

127.57

100.11

0.80

0.82

33.10

27.16

5.11

4.4

4%

4%

14

Ajanta Soya Ltd.

Vanaspati

199.61

245.57

0.93

0.97

14.74

20.11

3.26

2.74

2%

1%

15

Indo Nissin Foods Ltd.

Noodles

40.52

58.9

0.36

0.46

0.94

1.73

5.38

8.01

13%

14%

16

Kerala Feeds Ltd.

Cattle feed

115.34

146.24

0.85

0.86

5.41

7.56

-0.68

-1.04

-1%

-1%

17

Kohinoor Feeds & Fats Ltd.

Edible oils

63.67

93.03

0.87

0.92

9.78

16.37

2.31

2.87

4%

3%

18

S D F Industries Ltd.

Ethyl alcohol (strength less than 80%) -

5.13

11.8

0.31

0.75

0.14

2.35

0.59

-7.15

12%

-61%

19

Prakash Oils Ltd.

Vegetable oils

193.09

274.86

0.95

0.94

49.35

61.11

4.62

4.1

2%

1%

20

I F B Agro Inds. Ltd.

Rectified spirit

149.52

166.44

0.76

0.77

2.33

2.38

20.38

18.12

14%

11%

21

Mount Everest Mineral Water Ltd.

Mineral waters

24.69

26.7

0.38

0.67

0.59

1.02

2.8

-4.33

11%

-16%

22

Gayatri Bioorganics Ltd.

Starches

31.96

41.22

0.87

0.93

0.85

1.21

22.33

8.2

70%

20%

23

Tasty Bite Eatables Ltd.

Semi processed snacks & foods,nec (Ready-

30.74

36.87

0.71

0.72

2.11

2.38

2.14

3.51

7%

10%

24

Lotus Chocolate Co. Ltd.

Chocolate confectionery

22.33

23.73

0.71

0.75

3.74

4.48

2.49

2.07

11%

9%

25

Mount Shivalik Inds. Ltd.

Beer

50.36

85.77

0.29

0.25

0.84

1.12

3.93

10.28

8%

12%

26

Vegetable Products Ltd.

Vanaspati

36.43

40.67

0.94

1.00

3.73

4.69

-3.99

0.8

-11%

2%

27

Godavari Edible Bran Oil Ltd.

Vegetable oils

61.22

82.58

0.98

0.98

7.72

8.65

2.24

3.08

4%

4%

28

Sudha Agro Oil & Chemical Inds. Ltd.

Rice bran oil

100.6

155.84

0.80

0.85

1.93

3.56

12.5

18.53

12%

12%

29

Milk Specialities Ltd.

Milk powder

72.15

80.57

0.85

0.95

5.55

7.06

3.79

4.37

5%

5%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

106

february 28, 2010 | industry 2.0

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small manufacturing companies WORKING CAPITAL CyCLE Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

37.91

30.23

68.6

79.96

67.08

64.43

5.92

10.59

15.85

16.58

218.8

135.46

116.73

106.97

91.84

70.71

78.8

37.12

34.13

54.74

45.08

218.8

38.77

118.48

50.39

153.04

5.15

14.64

36.94

47.84

12.61

26.45

221.3

70.22

74.79

123.84

114.79

58.6

72.36

24.62

30.54

15.63

16.29

221.6

113.15

117.44

96.69

89.81

436.56

474.99

53.51

51.58

31.4

18.92

221.9

28.93

34.7

85.3

84.2

49.47

56.52

16.95

20.53

50.8

48.47

222.0

164.73

150.49

138

136.05

80.96

63.71

21.44

27.41

33.03

20.13

223.6

8.11

22.74

54.89

44.28

54.55

59.53

23.06

30.59

10.73

15.11

228.1

48.84

38.9

79.83

82.05

96.82

128.81

34.34

30.06

18.09

10.78

230.2

27.94

15.83

177.56

149.39

74.8

64.91

5.87

6.63

12.57

26.29

236.4

65.32

77.4

96.38

102.31

207.6

206.42

31.3

41.42

50.75

55.24

244.1

100.42

110.1

53.45

171.79

86.28

144.25

181.88

257.22

36.27

33.34

247.7

34.91

31.51

80.95

89.15

83.14

85.51

42.46

38.23

29.32

34.73

257.1

40.42

48.08

115.44

178.7

173.79

192.2

19.49

29.03

11.29

14.39

261.1

61.6

63.49

103.13

85.62

157.51

145.55

45.69

42.23

104.98

103.6

261.4

109.89

87.36

138.61

110.5

172.17

140.3

294.34

228.05

25.52

37.66

280.7

28.77

38.45

35.22

45.35

16.36

18.27

1.22

1.05

2.98

3.35

89.3

52.99

62.52

45.09

47.32

48.32

36.33

0.04

0.04

5.65

5.72

94.1

74.43

76.26

66.74

71.72

10.55

12.12

0.53

0.62

6.04

3.94

98.4

NA

12.99

17.08

14.46

NA

6.87

NA

0.39

NA

6.19

105.7

11.36

34.21

62.27

36.22

15.37

17.3

0.85

0.9

10.9

15.02

113.1

22.82

15.59

NA

39.84

NA

3.07

NA

1.05

117.9

0.29

15.61

12.9

17.29

12.19

2.55

2.81

0.07

0.2

118.5

4.89

7.26

27.04

52.33

18.51

10.2

0.07

0.05

11

11.43

119.6

47.19

44.43

10.11

53.81

1.42

1.15

1.33

0.94

18

19.14

120.8

1.67

1.69

46.58

51.18

22.54

20.76

0.14

0.22

0.31

0.2

121.6

22.31

31.04

20.58

30.52

27.83

36.07

0.12

0.52

3.54

3.69

122.2

11.73

10.61

23.35

35.35

18.73

15.01

3.19

3.27

1.75

2.2

122.4

NA

14.09

1.35

3.13

NA

0.3

NA

0.69

NA

65.07

128.9

17.43

16.18

21.23

17.73

8.25

7.73

6.2

5.11

2.97

2.71

131.9

36.91

33.65

102.29

65.8

25.14

16.82

1.51

1.68

17.69

18.16

132.2

10.31

9.34

43.05

40.3

34.85

29.86

0.03

0.1

5.35

3.17

140.9

NA

29.19

5.59

2.33

NA

29.72

NA

4.57

NA

2.99

141.6

80.74

57.92

173.12

120.49

13.34

13.25

3.17

1.09

5.33

7.63

147.4

NA

7.46

8.54

5.43

NA

28.54

NA

2.31

NA

3.87

147.6

17.99

12.02

34.2

25.88

33.44

32.13

1.16

0.78

11.37

10.65

147.7

82.55

160.64

40.05

33.74

30.28

30.36

4.65

1.23

4.07

11.03

148.2

28.12

35.53

103.38

40.29

19.33

18.84

5.68

4.17

2.93

8.23

149.0

98.06

81.44

104.78

72.38

60.23

56.31

2.53

3.41

0.94

2.09

151.4

52.47

45.75

38.21

38.07

34.69

40.65

1.88

2.64

10.14

10.78

151.4

42.08

29.49

55.75

40.98

41.17

33.81

7.23

5.71

4.54

4.44

156.6

NA

0.31

34.41

41.39

NA

1.93

NA

1.53

NA

15.36

156.7

15.32

15.89

27.13

49.23

6.59

7.92

3.27

2.98

16.56

21.11

159.5

25.5

24.34

28.74

23.93

27.82

27.78

5.77

4.96

9.8

11.06

160.5

44.77

35.43

15.62

11.13

10.88

9.64

3.72

3.89

86.64

88.12

160.5

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

fooD

31.19

& BEvErAgE

NA 0.44

ferrous

Creditors Days Available (Days)

METAls

Debtors Days Available (Days)

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

107


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

30

C C L Products (India) Ltd.

Coffee

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

219

255.86

0.61

0.67

0.55

0.68

52.29

61.02

24%

24%

31

Pearl Beverages Ltd.

Soft drinks

59.57

60.16

0.65

0.65

0.63

0.65

11.34

11.63

19%

19%

32

Tilaknagar Industries Ltd.

Indian made foreign liquors

90.17

140.98

0.28

0.27

1.22

0.31

17.9

32.3

20%

23%

33

Shri Gang Inds. & Allied Products Ltd.

Vanaspati

127.82

146.7

0.98

0.96

18.87

24.72

-6.67

-5.63

-5%

-4%

34

Raj Agro Mills Ltd.

Vanaspati

80.66

115.72

0.89

0.94

8.65

14.24

3.1

4.53

4%

4%

35

Lords Distillery Ltd.

Indian made foreign liquors

59.62

208.96

0.33

0.84

1.89

12.84

2.45

3.08

4%

1%

36

Empee Distilleries Ltd.

Indian made foreign liquors

130.2

167.01

0.65

0.66

1.57

1.41

23.09

37.56

18%

22%

37

Ramdev Food Products Ltd.

Other spices

68.8

80.07

0.67

0.64

3.18

3.45

5.8

8.1

8%

10%

38

Millennium Beer Inds. Ltd.

Beer

133.66

184.15

0.27

0.28

0.59

0.60

5.26

14.08

4%

8%

39

Chamong Tea Co. Ltd.

Tea

14.37

16.31

0.45

0.38

1.09

1.11

0.34

1.09

2%

7%

40

Patliputra Industries Ltd.

Vanaspati

8.05

10.66

0.95

0.90

1.85

2.69

0.99

1

12%

9%

41

Sita Shree Food Products Ltd.

Wheat flour

80.77

95.08

0.95

0.95

11.55

11.98

2.78

3.98

3%

4%

42

Raghuvar (India) Ltd.

Vanaspati

127.4

167.46

0.86

0.97

24.42

39.63

3.06

3.74

2%

2% 3%

43

Pioneer Agro Extracts Ltd.

Vanaspati

72.17

58.77

0.91

0.92

10.69

8.15

1.78

1.91

2%

44

Dharani Sugars & Chemicals Ltd.

Sugar

275.08

199.44

0.62

0.97

1.64

1.68

48.04

5.75

17%

3%

45

Deesan Agro-Tech Ltd.

Vegetable oils

147.07

200.7

0.88

0.88

12.88

16.47

4.93

7.52

3%

4% -11%

46

Bacardi-Martini India Ltd.

Indian made foreign liquors

65.59

76.15

0.21

0.25

2.01

1.72

5.13

-8.54

8%

47

Tikaula Sugar Mills Ltd.

Sugar

156.45

82.21

0.25

1.29

0.69

1.54

20.84

10.49

13%

13%

48

Blossom Industries Ltd.

Beer

65.76

76.15

0.21

0.21

0.75

0.32

14.36

13.34

22%

18%

49

A V T Mccormick Ingrediants Pvt. Ltd.

Spices & Condiments

104.56

140.82

0.70

0.74

6.14

10.89

12.22

13.84

12%

10%

50

Sukhjit Starch & Chemicals Ltd.

Starches

162.22

180.11

0.76

0.79

1.75

1.78

31.19

30.93

19%

17%

51

Mohan Rocky Springwater Breweries Ltd.

Indian made foreign liquors

29.42

31.45

0.41

0.44

4.20

5.50

1.56

2.59

5%

8%

52

Camson Bio Technologies Ltd.

Agriseed

17.53

41.89

0.53

0.47

1.19

1.50

4.06

8.8

23%

21%

53

M T R Foods Ltd.

Instant & semi-processed foods (Packaged

157.9

185.57

0.57

0.57

1.58

0.99

24.1

30.78

15%

17%

54

Capital Foods Ltd.

Sauces & ketchup

26.45

50.29

0.46

0.55

2.06

1.23

1.19

1.73

4%

3%

55

Mihijam Vanaspati Ltd.

Vanaspati

55.12

62.71

0.89

0.89

16.00

20.78

0.84

0.96

2%

2%

56

A D F Foods Ltd.

Semi processed snacks & foods,nec (Ready-

78.31

88.71

0.38

0.39

0.79

0.80

13.96

16.4

18%

18%

57

Sri Sarvaraya Sugars Ltd.

Sugar

195.08

188.81

0.65

0.82

1.14

1.32

41.09

28.35

21%

15%

58

Jay Shree Tea & Inds. Ltd.

Tea

249.99

282.51

0.67

0.65

1.46

1.25

20.68

27.81

8%

10%

59

Tirupati Starch & Chemicals Ltd.

Maize starch

38.15

44.76

0.81

0.77

3.66

4.32

4.25

5.07

11%

11%

60

Empee Sugars & Chemicals Ltd.

Sugar

100.38

57.58

0.77

0.97

2.63

1.24

15

5.74

15%

10%

61

Umang Dairies Ltd.

Dairy products

43.21

37.25

0.27

1.04

0.90

2.66

-0.1

0.52

0%

1%

62

Unique Sugars Ltd.

Other sweetening agents

64.06

62.92

0.74

0.81

2.25

2.61

5.76

5.41

9%

9%

63

Ponni Sugars (Erode) Ltd.

Sugar

139.75

144.06

0.84

0.83

2.68

2.51

11.37

0.52

8%

0%

64

Indage Vintners Ltd.

Wines

117.04

178.33

0.48

0.50

0.50

0.70

35.15

73.94

30%

41%

65

Brihan Maharashtra Sugar Syndicate Ltd.

Ethyl alcohol (strength less than 80%) -

92.13

113.45

0.44

0.36

1.71

1.73

4.95

6.07

5%

5%

66

Sayaji Industries Ltd.

Starches

197.08

217.39

0.75

0.75

2.92

2.77

8.98

10.62

5%

5%

67

Lotte India Corpn. Ltd.

Chocolate & sugar confectionery

146.83

153.25

0.56

0.65

1.33

1.59

8.67

0.66

6%

0%

68

India Sugars & Refineries Ltd.

Sugar

54.84

27.62

0.65

2.28

1.69

3.01

10.95

-6.17

20%

-22%

69

Keventer Agro Ltd.

Fruit juice

94.92

115.12

0.78

0.76

2.00

2.27

7.51

7.88

8%

7%

70

Godrej Hershey Ltd.

Tea incl. instant tea

175.71

195.8

0.79

0.89

3.13

3.03

-2.15

-7.96

-1%

-4%

71

Mahaan Foods Ltd.

Milk powder

67.78

92.48

0.92

0.81

9.98

11.45

2.39

3.5

4%

4%

72

G M R Industries Ltd.

Sugar

193.39

160

0.44

0.67

0.31

0.22

59.5

38.57

31%

24%

73

Hindustan Breweries & Bottling Ltd.

Beer

21.5

20.46

0.60

0.69

0.91

1.05

2.16

2.47

10%

12%

74

Gem Sugars Ltd.

Sugar

92.08

92.82

1.58

1.16

1.33

0.84

34.51

24.38

37%

26%

75

Asia Pacific Commodities Ltd.

Vegetable oils

155.34

170.48

1.01

0.93

6.78

7.25

5.65

7.39

4%

4%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

108

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

56.6

30.07

43.78

51.91

61.83

0.43

0.54

8.83

22.57

160.6

20.83

24.63

132.31

144.38

34.19

32.2

0.89

0.77

4.06

4.45

160.7

66.24

58.9

89.74

90.82

61.8

60.08

1.46

2.29

5.19

8.29

163.1

6.08

4.97

7.74

18.37

8.73

6.22

5.77

6.29

10.39

9.71

165.9

27.54

29.43

52.36

62.43

46.75

34.52

3.97

3.44

6.82

6.86

170.6

NA

6.12

16.49

9.66

NA

25.78

NA

8.14

NA

1.28

170.7

8.09

8.46

24.81

16.74

47.85

44.67

9.37

7.76

2.49

1.1

173.7 174.8

16.38

18.14

33.75

33.78

31.58

25.02

13.08

15.95

9.71

10.01

127.03

72.62

165.14

80.67

31.66

25.69

17.92

20.98

9.26

3.11

176.1

14.16

10.18

38.96

19.71

57.97

55.67

0.35

0.66

34.84

19.3

176.6 176.9

37.67

33.73

101.5

86.16

38.98

14.89

20.82

12.51

8.24

6.6

23.62

50.55

30.64

67.03

27.07

25.87

14.95

12.03

5.41

5.5

177.3

8.04

10.89

44.67

40.14

29.7

19.36

7.21

5.68

7.14

8.93

177.8

12.18

16.52

28.76

37.08

4.11

7.02

10.84

13.44

10.89

15.85

178.2

19.32

23.08

17.94

27.88

14.44

9.57

3.77

2.78

55.28

65.14

180.2

NA

20.97

3.72

30.31

NA

45.71

NA

4.98

NA

7.06

180.7

70.09

70.46

66.96

85.21

191.21

203.99

2.97

2.53

6.43

5.65

180.8

2.94

7.68

21.06

60.61

4.03

1.83

1.19

0.08

152.78

216.5

181.7

10.11

13.88

47.28

69.88

36.73

35.01

6.31

5.16

8.27

6.13

181.9

63.49

70.73

32.62

27.39

163.31

152.29

19.48

25.9

12.19

1.65

182.5

33.66

36.94

32.75

41.92

68.13

84.06

5.23

5.9

5.53

6.73

185.3

19.86

24.75

50.61

57.27

46.44

51.46

10.13

11.58

6.52

4.07

185.5

29.89

29.13

24.27

20.46

25.27

13.25

128.15

132.76

49.01

34.81

185.6

14.1

13.74

68.32

51.72

47.15

48.34

2.98

4.05

7.26

8.07

185.7

37.29

37.58

59.84

64.42

58.57

82.84

0.83

0.94

8.75

12.46

186.1

57.75

76.13

70.32

113.41

17.49

36.45

6.64

6.2

6.23

4.22

186.4

28.83

27.25

31.02

30.68

42.96

42.05

37.85

31.51

3.83

3.49

186.5

11.15

14.04

55.64

71.55

32.6

34.31

0.17

0.14

19.93

35.81

186.7

30.82

32.4

24.37

33.57

77.56

77.59

0.62

1.12

34.37

29.9

186.9

25.69

31.2

35.57

26.78

47.6

70.4

8.2

8.17

13.17

8.15

187.5

13.8

21.75

30.57

65.83

9.88

12.86

1.94

2.42

22.02

57.24

189.5

9.03

10.48

86.91

119.61

21.71

10.74

0.81

1.32

60.66

20.38

189.8

37.45

45.08

92.87

53.22

42.42

68.23

5.32

4.76

5.52

10.7

191.3

1.95

9.14

66.25

63.44

6.13

7.5

2.05

1.97

102.4

91.48

193.2

131.8

134.17

226.71

97.41

25.65

18.84

638.01

1365.25

13.71

15.42

193.7 194.4

29.8

31.26

78.35

86.53

32.09

26.27

20.42

18.96

8.4

8.34

30.06

30.6

44.76

56.86

34.75

35.64

6.06

5.97

11.64

13.38

195.1

7.72

9.66

50.75

53

26.23

28.55

1.78

2.1

26.98

29.96

195.5

38.47

75.07

96.5

174.92

11.62

7.37

0.82

0.59

101.94

195.72

195.7

24.21

40.28

41.83

49.51

36

42.8

12.6

12.93

6.77

7.87

198.2

37.88

51.37

74.73

116.7

55.85

38.99

6.43

1.45

18.71

21.85

199.7

3.33

7.78

50.89

45.68

8.18

8.78

17.72

20.07

30.31

22.83

200.3

63.02

65.22

78.67

153.9

105.23

24.29

4.62

4.45

63.61

37.63

200.4

44.65

47.8

173.87

164.45

34.52

39.35

6.27

7.78

2.29

3.49

201.0

NA

56.31

144.74

277.34

NA

11.99

NA

0.93

NA

326.54

201.7

17.25

37.71

31.71

65.15

17.15

28.41

7.43

7.51

19.88

24.3

201.9

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

fooD

2008

& BEvErAgE

2007 58.14

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

109


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

76

Candico (I) Ltd.

Chocolate & sugar confectionery

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

59.37

57.69

0.72

0.54

1.83

1.46

-1.09

2.28

-2%

4%

77

Malt Company (India) Ltd.

Malt and malt extract

50.14

64.67

0.71

0.67

1.08

1.30

7.1

9.93

14%

15%

78

Gobind Sugar Mills Ltd.

Sugar

217.22

157.22

0.60

1.10

2.87

3.31

54.57

-5.53

25%

-4%

79

S B E C Sugar Ltd.

Sugar

194.69

273.37

0.79

1.48

2.10

5.76

19.88

-8.17

10%

-3%

80

Universal Starch-Chem Allied Ltd.

Starches

79.27

82.01

0.77

0.83

1.67

1.91

8.14

6.42

10%

8%

81

Venus Sugar Ltd.

Sugar

61.02

52.19

0.40

1.45

0.49

1.63

7.12

-4.02

12%

-8%

82

Avanti Feeds Ltd.

Other animal feed

121.8

106.11

0.85

0.78

2.81

2.46

8.11

9.57

7%

9%

67.58

87.14

0.84

0.82

1.79

1.94

4.7

9.34

7%

11%

47

32.34

0.27

0.34

1.28

1.44

2.06

2.41

4%

7%

0.86

0.95

86.29

123.50

0.61

0.95

1%

1%

83

Srinivasa Hatcheries Ltd.

Poultry

84

Winsome Breweries Ltd.

Beer

85

Edible Products (India) Ltd.

Edible oils

75.58

85.58

86

S S D Oil Mills Co. Ltd.

Edible oils

250.03

297.21

0.91

0.97

17.39

11.41

6.37

8.64

3%

3%

87

Himalya International Ltd.

Mushroom

31.51

46.76

0.45

0.29

0.42

0.26

7.11

12.73

23%

27%

88

J K Sugar Ltd.

Sugar

116.76

103.51

0.86

1.36

1.15

1.69

3.46

9.77

3%

9%

89

Indian Extractions Ltd.

Oil cakes & meals

56.98

61.37

0.96

0.97

8.86

3.29

0.76

1.29

1%

2%

90

Gayatri Sugars Ltd.

Sugar

93.38

62.27

0.80

1.18

0.97

0.90

13.08

7.02

14%

11%

91

Kothari Sugars & Chemicals Ltd.

Sugar

230.22

260.89

0.79

0.84

0.95

1.08

29.59

28.22

13%

11%

92

Mohan Meakin Ltd.

Indian made foreign liquors

266.64

271.36

0.61

0.60

4.60

4.59

12.5

12.78

5%

5%

93

Indian Wood Products Co. Ltd.

Products of food, beverages & tobacco, nec

33.73

30.6

0.71

0.56

9.97

6.43

3.09

2.26

9%

7%

94

Om Oil & Flour Mills Ltd.

Spices & Condiments

38.01

45.84

0.65

0.58

1.69

1.10

3.79

3.94

10%

9%

95

Innovative Foods Ltd.

Shrimps

16.47

21.91

0.61

0.67

0.84

1.26

-1.88

-3.07

-11%

-14%

96

K M Sugar Mills Ltd.

Sugar

413.72

111.75

0.86

1.30

3.78

1.22

26.42

-6.31

6%

-6%

97

Kesar Enterprises Ltd.

Sugar

213.46

204.57

0.76

1.23

2.52

3.25

32.94

-0.51

15%

0%

98

Sir Shadi Lal Enterprises Ltd.

Sugar

236.67

168.42

0.57

2.30

1.48

2.95

11.85

-23.86

5%

-14% 12%

99

Cosmos Industries Ltd.

Sugar

51.96

63.69

1.18

0.66

2.56

1.58

9.46

7.81

18%

100

Sunrise Spices Ltd.

Spices & Condiments

41.41

46.57

0.75

0.78

5.07

4.84

2.58

3.59

6%

8%

101

Naraingarh Sugar Mills Ltd.

Sugar

62.9

67.96

1.23

1.09

1.78

1.69

11.03

8.58

18%

13%

102

Ravalgaon Sugar Farm Ltd.

Sugar

47.62

67.39

1.62

0.82

3.63

2.91

-0.78

8.15

-2%

12%

103

Crown Milk Specialities Pvt. Ltd.

Skimmed milk powder

12.94

17.9

0.87

0.90

1.59

0.66

0.76

1.06

6%

6%

104

Golden Tobacco Ltd.

Cigarettes

189.14

160.35

0.39

0.47

0.97

1.02

32.41

23.52

17%

15%

105

Kaira Can Co. Ltd.

Milk

176.5

165.87

0.87

0.81

15.93

14.63

4.81

5.28

3%

3%

106

Prudential Sugar Corpn. Ltd.

Sugar

88.25

71.94

0.86

0.75

1.92

1.46

7.96

-10.32

9%

-14%

107

Piccadily Agro Inds. Ltd.

Sugar

71.63

117.02

0.98

0.79

1.38

1.29

6.61

8.22

9%

7%

108

Sri Chamundeswari Sugars Ltd.

Sugar

146.79

152.48

0.86

0.74

0.56

0.36

35.17

22.16

24%

15%

109

Empire Spices & Foods Ltd.

Spices & Condiments

19.5

23.42

0.61

0.59

3.75

2.33

1.13

1.61

6%

7%

110

State Farms Corpn. Of India Ltd.

Foodgrain

71.7

106.49

0.83

0.83

2.52

3.12

12.6

18.83

18%

18%

111

Grover Vineyards Ltd.

Wines

13.46

21.24

0.66

0.70

2.44

2.24

2.29

2.77

17%

13%

112

Indian Sucrose Ltd.

Sugar

99.07

107.64

1.09

0.80

1.82

1.55

16.95

10.84

17%

10%

113

Dwarikesh Sugar Inds. Ltd.

Sugar

235.81

227.42

0.62

1.38

0.52

0.56

47.56

22.99

20%

10%

114

Kothari Fermentation & Biochem Ltd.

yeasts

19.65

10

0.71

0.85

1.53

0.71

3.05

4.49

16%

45%

115

Flex Foods Ltd.

Mushroom

35.92

42.02

0.45

0.39

0.36

0.38

10.32

12.63

29%

30%

116

Rajasthan State Ganganagar Sugar Mills Ltd.

Sugar

241.32

244.2

0.64

0.70

16.85

15.77

4.32

3.19

2%

1% 41%

117

Technico Agri Sciences Ltd.

Agriseed

118

K C P Sugar & Inds. Corpn. Ltd.

Sugar

119

Advanta India Ltd.

Hybrid seeds

120

Rasoi Ltd.

Vanaspati

121

Jindal Vegetable Products Ltd.

Vegetable oils

21.61

31.04

0.26

0.23

0.35

0.61

7.26

12.71

34%

304.59

226.31

0.69

0.73

1.34

1.11

50

25.55

16%

11%

75.7

130.04

0.37

0.89

1.76

1.37

40.33

31.63

53%

24%

143.88

156.28

0.97

0.89

3.90

4.13

4.66

5.28

3%

3%

11.03

13.17

0.85

0.89

2.51

3.11

-0.57

0.49

-5%

4%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

110

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

36.34

33.48

55.48

44.98

34.49

47.68

0.99

3.13

47.01

39.11

54.27

42.47

113

102.58

160.51

159.09

5.05

5.19

8.36

5.34

203.7

1.44

2.62

26.61

70.48

5.68

6.81

1.14

1.02

117.45

136.55

204.6

0.5

2.44

84.9

139.52

12.08

6.1

0.76

0.97

0.96

48.04

205.8 206.6

202.1

40.42

56.6

88.76

79.77

4.56

5.16

8.27

11.27

0.44

47.43

60.33

11.62

7.12

0

0.28

134.92

130.67

207.1

50.91

50.03

30.38

17.62

68.22

93.91

4.84

4.65

27.59

38.96

207.2 207.5

3.43

2.93

56.12

45.61

3.31

5.76

17.45

18.08

21.06

36.75

89.87

96.8

159.02

125.63

32.38

38.91

9.82

16.66

10.85

13.08

211.1

11.98

10.68

6.08

4.5

57.7

53.45

9.28

10.49

17.12

9.83

212.1

15.04

15.11

61.48

78.18

24.8

25.96

3.88

4.05

34.18

38.07

213.1

94.64

78.57

39.58

18.46

37.48

41.36

36.03

37.77

74.91

57.77

214.3

11.82

15.08

197.31

83.72

6.88

6.59

3.53

3.7

182.7

254.22

214.5

28.79

18.46

23.71

18.42

27.38

30.14

8.15

7.27

21.76

32.73

215.0

20.76

27.76

64

95.34

8.03

11.99

0

2.76

146.59

206.11

215.1

8.52

9.32

109.92

140.35

11

11.58

2.77

3.46

35.55

45.5

215.5

40.52

50.12

66.78

75.17

56.22

69.49

5.87

6.5

25.55

28.78

215.8

119.02

141.44

104.19

105.16

22.67

30.36

32.79

37.3

36.03

34.92

216.1

NA

13.92

84.55

99.69

NA

61.09

NA

2.46

NA

20.48

217.2

27.65

51.07

78.03

55.33

9.21

15.39

26.36

31.34

18.02

33.7

217.2 218.7

8.31

14.78

9.05

101.99

24.48

16.14

0.25

0.94

13.71

62.78

16.83

17.95

41.1

93.89

22

20.2

3.09

2.26

91.11

120.96

221.1

10.5

9.17

26.19

27.23

23.65

17.95

2.74

2.73

111.82

190.17

222.3 222.9

8.42

17.02

108.49

107.94

9.15

12.67

7.17

10.76

108.31

104.27

20.35

22.5

66.36

60.04

39.42

44.79

10.82

11.33

17.81

23.25

224.0

17.92

24.1

78.9

96.61

7.11

7.7

8.84

5.94

272.82

313.06

225.6

12.59

9.14

125.09

88.33

21.38

20.85

2.67

3.78

246.49

225.84

226.4

NA

18.13

27.06

80.14

NA

3.83

NA

10.12

NA

88.96

227.4

29.57

34.25

171.31

110.06

226

256.69

5.61

7.93

5.95

8.59

228.2

17.56

16.61

60.33

52.16

48.84

31.94

82.96

87.73

16.77

20.43

228.8

33.13

48.2

77.29

119.12

27.54

31.81

4.25

4.14

77.41

56.37

230.3

13.43

7.89

293.35

213.44

5.82

4.58

7.87

4.48

242.26

164.89

230.5 230.9

27.11

21.21

108.31

225.94

17.18

23.1

2.83

4.62

38.72

56.02

48.17

49.91

66.48

94.91

46.65

63.65

18.62

26.93

20.45

17.18

232.9

110.82

98.59

132.85

98.73

41.13

29.16

255.83

184.2

102.05

105.93

233.8

111.78

99.55

103.54

106.41

62.95

45

210.14

230.06

11.53

27.9

234.6

17.45

23.2

123.56

185.3

13.22

16.8

1.96

5.4

174.97

181.01

234.6

0.95

1.2

32.74

145.3

19.67

18.27

0.08

0.09

58.42

97.71

235.2

129.12

152.72

34.02

73.52

16.9

72.58

9.31

19.74

8.19

29.3

236.6

71.05

78.37

74.95

52.47

103.86

117.29

20.9

18.59

61.53

52.62

236.6

0.42

0.63

53.83

59.44

68.1

71.56

3.91

4.07

21.76

30.96

238.4

35.19

17.46

174.64

90.4

80.15

70.97

8.96

2.72

365.43

375.79

238.6

12.28

12.76

147.47

113.73

16.49

17.32

3.94

5.28

148.4

182.85

239.0

28.36

78.17

114

146.1

20348.75

27.46

26.56

13.71

61.74

123.56

239.6

9.87

12.44

70.2

110.98

20.34

34.24

7.97

11.49

14.55

16.44

241.6

7.49

9.27

162.44

164.35

50.44

21.5

17.05

8.48

17.66

24.35

243.9

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

fooD

45.42

& BEvErAgE

49.8 0.45

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

111


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

2008

2007

2008

2007

2008

Net Sales (Rs. Crore) 2007

PBDIT (Rs. Crore) 2007

PBDIT/Net Sales

2008

2007

2008

122

Tirupati Sugars Ltd.

Sugar

0.15

21.82

-0.93

0.56

-0.01

0.57

0.59

-8.19

393%

-38%

123

Khoday India Ltd.

Indian made foreign liquors

101.49

117.78

0.36

0.39

0.55

0.74

30.39

26.79

30%

23%

124

Vallabhdas Kanji Ltd.

Spices & Condiments

134.63

168.44

0.84

0.84

2.87

3.14

18.55

19.8

14%

12%

125

Pioneer Distilleries Ltd.

Ethyl alcohol (strength 80% or higher)

48.05

65.44

0.77

0.45

0.65

0.42

11.71

22.91

24%

35%

126

Kanoria Sugar & General Mfg. Co. Ltd.

Sugar

108.86

117.77

1.01

1.05

2.50

2.63

17.52

-15.75

16%

-13%

127

United Provinces Sugar Co. Ltd.

Sugar

122.65

82.73

0.49

1.27

0.77

1.15

6.22

9.93

5%

12%

128

Shakumbari Sugar & Allied Inds. Ltd.

Sugar

66.62

42.1

1.63

1.86

1.85

1.18

-9.73

5.97

-15%

14%

129

Sagar Sugars & Allied Products Ltd.

Sugar

138.49

118.59

0.45

0.53

0.62

0.58

30.12

28.48

22%

24%

130

Som Distilleries & Breweries Ltd.

Beer

49.4

50.71

0.25

0.43

0.68

0.70

1.42

9.24

3%

18%

131

Rangar Breweries Ltd.

Ethyl alcohol (strength less than 80%) -

27.77

22.91

0.47

0.49

1.09

1.00

1.29

1.85

5%

8%

132

Tamil Nadu Sugar Corpn. Ltd.

Sugar

86.45

51.06

0.84

2.10

13.39

18.61

-4.44

-11.91

-5%

-23%

133

Waterbase Ltd.

Animal and bird feeds

57.72

39.3

0.54

0.67

0.75

0.70

6.74

5.09

12%

13% 10%

134

Kings International Ltd.

Fish, crustaceans & molluscus

15.19

15.27

0.68

0.77

2.98

3.34

1.05

1.48

7%

135

Vishnu Sugar Mills Ltd.

Sugar

101.91

65.47

0.67

0.69

1.78

1.20

7.01

7.18

7%

11%

136

Trident Sugars Ltd.

Sugar

36.2

46.24

1.43

1.10

1.56

1.29

2.95

-15.64

8%

-34%

137

Piccadily Sugar & Allied Inds. Ltd.

Liquors

52.89

64.19

0.92

0.37

1.50

0.73

2.33

3.39

4%

5%

138

Global Green Co. Ltd.

Pickles & chutneys

120.48

94.9

0.36

0.44

1.19

0.84

11.99

1.57

10%

2%

139

Natural Vanaspati Ltd.

Vegetable oils

60.4

22.57

0.93

0.59

6.98

1.78

-2.08

-0.18

-3%

-1%

140

Zuari Seeds Ltd.

Hybrid seeds

24.17

31.61

0.45

0.47

1.08

1.45

2.07

2.82

9%

9%

141

Riga Sugar Co. Ltd.

Sugar

115.11

83.17

0.63

1.14

1.06

1.17

18.73

-0.19

16%

0%

142

Perambalur Sugar Mills Ltd.

Sugar

75.61

38.68

0.86

1.94

15.18

16.36

-7.4

-21.96

-10%

-57%

143

Harinagar Sugar Mills Ltd.

Sugar

204.73

149.55

0.72

1.22

1.44

1.26

14

26.12

7%

17% -204%

144

Duncans Industries Ltd.

Tea

102.17

102.92

1.25

0.67

0.32

0.18

-135.86

-209.88

-133%

145

S V Sugar Mills Ltd.

Sugar

124.52

74.8

0.63

0.92

0.66

0.42

11.76

19.45

9%

26%

146

Siruguppa Sugars & Chemicals Ltd.

Sugar

2.4

20.05

9.88

1.47

1.57

1.63

-3.02

-3.78

-126%

-19%

147

Agro Dutch Inds. Ltd.

Mushroom

209.2

207.47

0.42

0.54

0.30

0.30

51.78

73.67

25%

36%

148

Dharampal Premchand Ltd.

Chewing tobacco, jarda, scented tobacco

138.71

100.1

0.40

0.75

0.53

0.33

27.91

-17.55

20%

-18%

149

Jeypore Sugar Co. Ltd.

Sugar

241.72

193.41

0.66

1.05

1.02

0.75

48.44

32.45

20%

17%

generAtors AnD Power equiPment 1

Indo Tech Transformers Ltd.

Distribution transformers

156.11

193

0.67

0.64

2.74

1.50

40.21

60.04

26%

31%

2

Accurate Transformers Ltd.

Transformers

172.55

180.53

0.79

0.87

24.49

29.77

14.29

17.78

8%

10%

3

Gupta Machine Tools Ltd.

Stampings & laminations

113.72

139.3

0.78

0.76

2.76

2.49

17.66

22.87

16%

16%

4

C T R Manufacturing Inds. Ltd.

On load tap changing gears

60.7

72.42

0.66

0.65

2.30

2.42

10.68

14.08

18%

19%

5

East India Udyog Ltd.

Transformers

61.01

63.87

0.78

0.85

24.03

20.04

12.12

9.49

20%

15%

6

Kanohar Electricals Ltd.

Transformers

103.75

150.44

0.75

0.81

6.31

8.88

17.34

34.05

17%

23%

7

Brook Crompton Greaves Ltd.

Motors & generators

17.26

30.91

0.85

0.85

1.10

2.26

1.1

1.02

6%

3%

8

E C E Industries Ltd.

Transformers

212.17

202.98

0.75

0.69

10.76

7.70

14.46

32.96

7%

16%

9

Honda Siel Power Products Ltd.

Portable generating sets

236.69

260.41

0.62

0.71

3.90

4.09

35.07

43.82

15%

17%

10

Modison Metals Ltd.

Contactors

82.19

105.83

0.67

0.66

1.63

1.77

20.28

26.73

25%

25%

11

Prasha Technologies Ltd.

Parts principally for rotating electric machines

18.75

57.24

0.78

0.84

1.52

3.68

2.22

5.88

12%

10%

12

Shilchar Technologies Ltd.

Transformers

57.96

70.19

0.83

0.83

2.93

3.50

5.47

7.44

9%

11%

13

Power Build Ltd.

Motors & generators

80.87

103.58

0.69

0.64

3.08

2.78

14.18

15.43

18%

15%

14

Rajendra Electrical Inds. Ltd.

Electric motors, nec

49.32

51.44

0.83

0.71

3.68

2.82

2.95

3.96

6%

8%

15

Integra Hindustan Control Ltd.

Switching apparatus

14.68

12.48

0.73

0.75

11.83

10.31

1.69

1.44

12%

12%

16

Biecco Lawrie Ltd.

Switchgears, nec

46.07

51.42

0.77

0.61

5.49

5.17

3.73

4.73

8%

9%

17

Jyoti Ltd. (Duplicate Name, Gujarat)

Motors & generators

145.11

206.56

0.82

0.85

4.75

5.56

18.65

25.1

13%

12%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

112

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days) 2007

Creditors Days Available (Days)

Raw Material Holding Period (Days) 2007

2008

WIP Holding Period (Days)

2008

2007

2008

2007

262.8

0.97

39588.46

474.35

0

35.8

62.41

54.55

243.24

123.61

112.78

78.81

NA

118.33

90.21

93.04

NA

89.09

NA

Finished Goods Holding Period (Days)

Composite Score

2008

2007

2008

0

4.28

22.81

6.47

255.57

251.25

24.13

14.58

244.4

72.35

NA

28.2

246.0

244.3

3.08

8.27

55.7

55.08

74.68

99.77

5.88

9.12

25.22

26.85

247.5

22.48

24.16

45.63

108.41

19.45

17.78

9.13

6.57

116.77

120.69

250.0

0.08

1.12

99.38

99.87

16.13

17.38

1.78

3.37

169.77

246.6

250.9 255.3

61.21

82.61

10.27

35.4

1.58

4.05

72.15

293.48

88.81

107.52

61.96

62.58

111.3

36.3

112.82

106.39

259.4

102.21

128.71

243.33

345.6

185.55

181.15

21.99

20.63

18.77

30.23

259.5

60.16

105.01

138.03

223.66

63.01

112.98

38.8

41.51

15.28

20.22

259.7

3.61

5.81

105.93

134.09

11.2

10.47

5.21

5.92

141.29

224.05

260.7

230.42

367.16

419.22

551.91

334.27

446.86

9.8

4.58

91.32

173.64

263.1

18.86

25.7

117.15

71.6

128.11

126.66

59.76

63.13

40.26

30.42

264.9

1.85

3.08

121.15

112.01

11.23

20.78

5.05

7.15

219.96

308.89

265.0

20.07

13.46

152.71

190.48

22.24

15.18

3.6

4.74

189.86

166.09

265.7

2.06

3.94

240.48

273.6

13.16

17.49

8.84

15.8

97.53

84.73

266.8

40.65

65.21

70.1

116.01

73.1

99.81

78.85

60.3

14.35

26.21

271.4

26.37

54.84

133.92

320.89

20.86

73.54

8.36

18.57

30.69

37.17

272.8

84.75

102.64

245.96

224.6

121.3

121.8

25.9

27.38

84.45

67.83

273.2

2.35

2.61

43.45

102.6

44.48

42.81

4.22

2.39

71.23

91.12

273.9

2.97

2.26

104.1

145.07

13.77

17.68

10.94

10.69

137.64

199.23

286.6

1.84

6.45

116.19

95.52

21.73

26.71

14.73

16.77

211.53

338.38

287.5 289.5

75.56

47.1

826

1285.67

1620.2

1658.93

5.28

8.01

15.17

23.68

6.45

10.91

135.45

157.19

40.36

70.22

2.6

6.13

95.88

132.56

290.7

4.73

1.3

322.32

143.38

34.51

31.63

9.97

7.51

241.4

165.31

305.5

29.22

8.29

113.81

112.68

103.83

113.62

147.47

205.96

91

81.92

305.7

6.43

5.4

88.07

89.62

66.86

78.57

40.08

28.07

24.78

25.33

306.2

11.55

15.91

339.42

430

91.35

125.03

5.24

6.22

163.4

210.27

312.2

111.51

100.03

41.3

30.05

3.36

6.11

0.02

0.02

27.2

119.33

86.65

3.61

7.38

1.01

3.37

7.68

5.53

27.9

41

37.26

47.38

48.11

14.95

20.57

16.35

18.11

4.53

3.75

32.9

88.98

95.78

122.77

124.62

38.95

43.56

14.83

19.35

0.29

0.31

34.2

90.25

117.58

59.62

40.11

19.01

22.18

13.19

25.79

6.84

8.86

35.8

85.96

111.9

72.67

73.54

36.32

27.43

22.71

24.87

4.57

8.3

37.1

236.53

147.13

187.44

141.46

49.76

26.3

14.68

7.51

2.22

3.61

37.9

89.16

131.35

85.14

73.77

30.33

49.42

36.02

41.94

4.12

3.16

39.8

35.22

30.24

60.7

51.15

56.13

47.1

4.44

4.43

20.36

21.74

40.1

34.58

38.73

34.08

27.07

88.56

54.09

18.18

40.02

5.11

3.05

42.8

70.98

46.21

82.52

76.49

56.65

36.55

19.57

17.47

0

4.69

42.9

80.5

97.18

73.98

105.02

32.14

39.33

12.33

15.61

5.16

5.72

43.1

112.01

128.05

148.23

130.43

84.45

79.45

28.53

26.73

6.09

4.53

44.6

NA

92.13

66.07

60.98

NA

21.24

NA

21.61

NA

28.58

44.9

112.59

138.38

131.55

168.07

71.23

94.61

36.22

35.31

1.01

0.14

45.3

157.48

176.96

160.27

175.63

67.21

89.56

9.01

9.71

22.3

21.78

46.0

202.49

169.56

334.11

240.75

11.68

10.97

101.4

75.6

5.79

6.28

47.1

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

generAtors

72.89 144.67

& POwEr EquIPMEnT

63.28 123.03

fooD

16.8 85.08

& BEvErAgE

6.04 89.79

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

113


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

18

Autometers Alliance Ltd.

Static converters & rectifiers

77.28

90.25

0.64

0.66

1.97

2.09

16.04

9.18

21%

10% 18%

19

Tata Precision Inds. India Ltd.

Other parts for rotating electric machines

5.95

10.05

0.56

0.48

0.62

0.62

1.01

1.85

17%

20

Universal Radiators Ltd.

Pressed steel cooling radiators

9.36

14.48

0.56

0.57

4.92

2.30

1.62

2.2

17%

15%

21

Tarapur Transformers Pvt. Ltd.

Transformers

2.93

10.67

0.63

0.98

0.42

1.12

0.45

2.46

15%

23%

22

Elpro International Ltd.

Lightning arresters, voltage limiters, etc.

33.78

28.11

0.61

0.67

0.93

0.45

9.29

0.85

28%

3%

23

Marson'S Ltd.

Transformers

33.36

53.27

0.83

0.75

0.99

1.40

2.7

4.13

8%

8%

24

Indo Asian Fusegear Ltd.

Miniature circuit breakers

213.96

263.85

0.67

0.74

2.28

2.80

29.44

33.46

14%

13%

25

I M P Powers Ltd.

Distribution transformers

67.83

103.33

0.78

0.79

1.80

2.59

11.56

17.11

17%

17%

26

Wartsila India Ltd.

Generating sets with diesel engines

268.25

274.63

0.67

0.67

3.67

3.78

38.7

40.52

14%

15%

27

R T S Power Corpn. Ltd.

Transformers

62.75

94.32

0.73

0.77

3.46

6.08

8.33

8.33

13%

9%

28

C I I Guardian Intl. Ltd.

Relays

30.28

30.21

0.87

0.81

8.45

8.15

2.23

2.27

7%

8%

29

Mysore Electrical Inds. Ltd.

Switching apparatus

42.13

47.81

0.84

0.75

0.92

0.94

2.85

4.22

7%

9%

30

Pitti Laminations Ltd.

Stampings & laminations

146.77

169.63

0.75

0.75

2.38

1.84

18.61

19.25

13%

11%

31

Standard Electricals Ltd.

Miniature circuit breakers

87.72

99.14

0.80

0.70

2.97

2.43

6.74

8.64

8%

9%

32

Alfa Transformers Ltd.

Transformers

20.65

36.5

0.69

0.67

1.43

1.72

3.24

5.74

16%

16%

33

Birla Power Solutions Ltd.

Portable generating sets

230.34

218.38

0.83

0.80

2.62

2.37

22.87

18.26

10%

8%

glAss AnD cerAmics 1

Unifrax India Ltd.

Other ceramic products

35.27

43.73

0.44

0.46

2.35

3.00

13.87

16.47

39%

38%

2

I F G L Refractories Ltd.

Refractory bricks

155.91

179.29

0.56

0.59

2.89

3.05

33.35

35.85

21%

20% 12%

3

Jai Mata Glass Ltd.

Glass & glass wares

21.13

46.62

0.81

0.79

1.16

3.79

0.74

5.76

4%

4

Gujarat Borosil Ltd.

Glass & glass wares

96.11

84.57

0.42

0.51

1.07

1.00

19.24

13.83

20%

16%

5

Asian Tiles Ltd. [Merged]

Ceramic tiles

24.76

36.48

0.64

0.68

1.05

1.74

5.5

7.02

22%

19%

6

Haldyn Glass Gujarat Ltd.

Bottles

56.72

63.99

0.47

0.48

0.46

0.45

15.84

18.45

28%

29%

7

Excel Glasses Ltd.

Bottles

67.99

73.69

0.84

0.70

1.53

1.46

1.23

2.77

2%

4%

8

Italia Ceramics Ltd.

Glazed ceramic tiles, paving & flags

22.01

24.08

0.85

0.58

1.30

0.95

1.57

3.31

7%

14%

9

Goa Glass Fibre Ltd.

Glass fibres

82.07

80.9

0.52

0.61

0.58

0.70

12.29

13.09

15%

16%

10

Snowtex Udyog Ltd.

Refractory bricks

18.7

16.84

0.63

0.74

2.70

2.70

2.65

2.13

14%

13%

11

Schablona India Ltd.

Other ceramic products

9.31

19.04

0.65

0.61

1.68

2.32

1.08

2.17

12%

11% 21%

12

U P Twiga Fiberglass Ltd.

Glass & glass wares

63.71

84.14

0.53

0.60

0.39

0.61

15.17

17.89

24%

13

Orient Ceramics & Inds. Ltd.

Glazed ceramic tiles, paving & flags

186.39

213.46

0.50

0.68

1.34

1.55

30.74

23.39

16%

11%

14

Onaway Industries Ltd.

Vials for injectables

7.78

10.58

0.63

0.58

0.76

0.94

1.59

1.95

20%

18%

15

Saint-Gobain Sekurit India Ltd.

Toughened & laminated (safety) glass

69.84

66.7

0.80

0.75

1.09

0.95

-3.72

7.83

-5%

12%

16

Sejal Architectural Glass Ltd.

Toughened & laminated (safety) glass

38.44

55.21

0.80

0.82

0.51

0.35

7.71

16.52

20%

30%

17

Maithan Ceramic Ltd.

Refractory bricks

78.89

83.12

0.79

0.77

6.57

7.64

7.45

8.17

9%

10%

18

Jalaram Ceramics Ltd.

Glazed ceramic tiles, paving & flags

66.3

69.33

0.53

0.60

1.08

0.99

13.74

10.69

21%

15%

19

Cera Sanitaryware Ltd.

Ceramic sinks, wash basins, etc.

106.54

127.99

0.59

0.62

1.06

1.03

19.79

23.66

19%

18%

20

Raasi Refractories Ltd.

Refractory bricks

29.52

32.55

0.76

0.74

2.12

2.13

3.27

3.17

11%

10%

21

Shri Nataraj Ceramic & Chemical Inds. Ltd.

Other refractories

31.58

48.22

0.51

0.73

2.09

3.44

7.72

9.21

24%

19%

22

Schott Glass India Pvt. Ltd.

Glass in tubes

61.02

111.79

0.83

0.30

0.58

0.32

14.4

19.75

24%

18%

23

Asian Granito India Ltd.

Ceramic tiles

145.8

182.35

0.67

0.64

2.17

1.16

35.07

49.05

24%

27% 14%

24

La Opala R G Ltd.

Kitchen glass wares

49.72

51.08

0.55

0.55

0.60

0.49

9.18

6.93

18%

25

Restile Ceramics Ltd.

Unglazed ceramic tiles, paving & flags

20.4

31.8

1.00

0.67

0.45

0.35

0.46

5.14

2%

16%

26

Euro Ceramics Ltd.

Ceramic tiles

181.35

235.79

0.67

0.50

0.46

0.32

64.64

74.83

36%

32%

27

Decolight Ceramics Ltd.

Ceramic tiles

51.44

82.18

0.72

0.69

0.80

0.75

12.46

22.43

24%

27%

28

Tata Ceramics Ltd.

Porcelain or china household articles

22.47

29.57

0.55

0.70

0.63

1.21

-1.25

3.76

-6%

13%

29

Regency Ceramics Ltd.

Ceramic tiles

150.55

139.69

0.55

0.54

0.60

0.59

19.01

5.24

13%

4%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

114

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small manufacturing companies

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

71.24

62.27

47.44

42.99

87.59

101.37

33.78

34.08

0.79

0.65

Composite Score

47.7

NA

63.19

47.75

43.21

NA

97.16

NA

43.71

NA

2.34

47.7

136.74

98.68

363.24

245.51

262.05

159.08

8.45

3.07

20.63

7.13

49.0

176.63

158.43

47.34

150.82

44.39

21.29

249.41

131.44

0

4.99

49.3

174.24

109.64

611.52

1170

73.98

44.06

49.38

30.88

1.52

0.6

49.5

129.32

118.54

173.17

99.75

105.02

69.71

83.59

31.51

3.41

2.49

50.8

107.33

125.51

82.67

72.42

33.92

29.82

56.92

57.43

16.51

21.85

50.9

163.12

120.68

73.33

53.98

76.15

57.52

41.87

33.17

34.08

23.72

51.1

113.68

106.35

112.05

138.63

46.03

54.4

13.52

28.55

17.76

21.48

51.6

135.76

126.12

96.55

102.92

46.71

31.95

51.64

44.26

31.03

17.79

52.9

2.19

4.42

63.73

66.58

86.48

102.37

34.67

39.97

0.13

0.19

54.6

NA

138.49

69.88

84.26

NA

71.24

NA

21.06

NA

32.63

55.5

53.2

59.85

107.01

119.26

52.58

56.1

19.74

24.38

13.92

14.6

55.6 55.6

66.71

39.73

90.66

67.83

42.03

66.11

16.47

16.79

56.22

52.44

76.32

58.49

85.94

59.7

161.35

115.4

65.01

35.68

22.47

9.62

58.9

133.19

166.92

52.61

59.52

74.85

120.16

29.47

44.12

34.16

34.18

64.4

67.99

67.02

38.96

40.26

66.45

67.46

0.36

0.22

16.37

19.54

17.3

94.03

96.13

54.98

63.13

55.94

64.94

11.9

13.01

6.73

6.6

27.6

149.4

67.71

107.78

41.67

1.66

1.19

3.57

5.87

29.9

24.1

28.86

67.87

73.72

5.45

5.79

7.37

2

30.3

74.81

62.48

72.03

82.08

93.22

61.56

0.21

0.85

41.26

36.46

35.9

60.82

49.57

116.55

115.48

68.02

90.43

0.93

1.34

10.69

4.85

36.7

71.25

61.58

60.62

43.31

84.55

84.49

0.84

1.22

42.64

29.15

39.8

56.24

63.3

89.47

103.97

49.28

61.88

2.59

2.17

36.21

34.45

40.2

47.97

54.44

88.14

50.98

93.07

114.52

1.5

1.65

38.19

31.91

45.8

61.13

65.74

57.44

56.75

140.55

169.46

5.14

3.54

25.13

21

46.4

52.78

56.67

114.21

124.88

65.86

50.41

11.7

9.28

45.17

28.25

47.1

40.41

46.64

120.85

102.59

108.99

102.99

12.07

8.76

8.37

8.28

47.4

52.1

59.61

76.25

74.88

76.48

84.62

4.8

6.61

28.31

24.24

47.8

71.9

62.89

42.36

36.54

171.56

129.02

52.84

34.83

22.58

17.35

48.1

46.52

58.51

98.83

87.44

98.06

85.87

6.18

6.29

16.76

18.33

49.3

94.52

101.26

218.14

409.77

107.27

120.54

4.34

6.36

8.14

18.19

50.3

68.09

57.5

48.46

37.02

126.16

111.82

10.39

10.66

21.21

23.68

50.3

45.63

52.96

82.78

62.93

83.74

82.7

10.7

10.19

33.41

39.25

50.3

56.22

62.95

103.21

92.62

109.82

109.77

5.16

5.18

46

48.61

51.3

84.95

49.25

108.87

77.32

80.73

82.56

27.03

15.44

17.22

15.59

51.6 52.2

31.08

33.92

92.8

76.19

187.4

144.02

8

4.53

28.85

22.48

80.84

79.41

109.6

139.54

202.32

300.76

2.3

2.55

42.05

28.29

52.4

56.67

63.41

57.99

64.04

114.44

132.3

1.57

5.01

62.06

63.33

52.8

56.59

65.93

55.34

70.25

74.87

126.54

30.25

34.55

24.06

19.36

53.5

64.76

78.77

87.82

75.45

96.75

118.88

3.14

2.33

76.74

85.35

53.7

73.72

70.4

87.32

70

121.85

116.7

4.18

14.41

54.58

58.85

54.3

50.34

70.79

81.14

71.15

197.71

195.67

28.39

39.47

22.71

17.62

55.9

67.38

78.07

102.47

47.44

203.67

144.36

15.08

9.53

86.44

60.83

57.5

72.8

78.26

95.53

108.96

202.61

204.28

2.78

3.37

41.05

40.94

58.1

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

glAss

19.52 31.86

& CErAMICs

16.55 22.51

generAtors

Debtors Days Available (Days)

& POwEr EquIPMEnT

WORKING CAPITAL CyCLE

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

115


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore) 2007

2008

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

2007

2008

2007

2008

PBDIT (Rs. Crore) 2007

2008

PBDIT/Net Sales 2007

2008

30

Nilachal Refractories Ltd.

Other refractories

7.45

11.2

1.23

0.68

4.74

3.42

-0.89

-3.62

-12%

-32%

31

Orissa Industries Ltd.

Other refractories

13.47

12.36

1.54

1.85

4.01

4.69

-16.34

-18.73

-121%

-152%

32

Bell Ceramics Ltd.

Ceramic tiles

169.37

161.76

0.60

0.65

0.74

0.83

16.24

0.51

10%

0%

33

Murudeshwar Ceramics Ltd.

Glazed ceramic tiles, paving & flags

235.26

236.41

0.54

0.43

0.38

0.30

74.76

76.35

32%

32%

34

Borosil Glass Works Ltd.

Laboratory glasswares

75.36

72.57

0.57

0.60

0.85

0.90

20.13

7.95

27%

11%

35

Shreno Ltd.

Glass & glass wares

97.89

43.98

0.73

0.56

4.43

1.46

-20.79

3.27

-21%

7%

36

Neycer India Ltd.

Other ceramic products

12.53

12.55

0.87

0.67

1.40

0.69

-6.71

-3.71

-54%

-30%

leAther AnD leAther ProDucts 1

Mayur Leather Products Ltd.

Shoe uppers

27.8

27.23

0.71

0.66

5.47

4.82

4.58

4.76

16%

17%

2

Graziella Shoes Ltd.

Leather shoes

65.71

80.41

0.80

0.79

7.94

9.43

1.92

2.24

3%

3% 8%

3

Worldwide Leather Exports Ltd.

Leather shoes

11.78

12.55

0.57

0.00

1.42

0.00

0.96

0.95

8%

4

Mallcom (India) Ltd.

Leather gloves

89.06

112.72

0.76

0.77

4.04

4.62

5.59

6.77

6%

6%

5

Phoenix International Ltd.

Canvas & sports shoes

15.39

18.36

0.69

0.58

0.27

0.20

15.95

23.11

104%

126%

6

Crew B O S Products Ltd.

Leather cases of all kinds

186.04

218.17

0.61

0.70

1.41

1.45

34.07

35.36

18%

16%

7

Liberty Shoes Ltd.

Other shoes

220.11

248.87

0.73

0.65

1.92

1.85

32.6

37.16

15%

15%

8

Iqbal Leathers Ltd.

Leather finished

47.91

32.16

0.94

0.97

6.28

5.15

1.59

1.73

3%

5%

9

Focus Energy Ltd.

Leather shoes

19.79

17.08

0.71

0.69

0.07

0.10

2.05

2.01

10%

12%

10

Pond'S Exports Ltd.

Leather shoes

105.75

87.55

0.78

0.69

18.48

13.46

-0.8

0.42

-1%

0%

11

Super Tannery Ltd.

Leather, canvas & other shoes, chappals, etc.

182.57

205.8

0.70

0.68

3.19

3.25

9.22

11.89

5%

6% 12%

12

Khadim India Ltd.

Slippers & chappals

149.33

198.3

0.93

0.87

2.27

2.17

11.33

23.81

8%

13

New Horizons Ltd.

Leather gloves

64.99

64.73

0.82

0.94

6.66

6.84

3.14

3.69

5%

6%

14

Lakhani India Ltd.

Leather shoes

40.65

146.68

1.16

0.81

0.92

1.63

2.75

13.23

7%

9%

mAchine tools 1

Birla Precision Technologies Ltd.

Machine tools

24.32

31.07

0.44

0.47

1.05

0.85

8.54

8.3

35%

27%

2

Ucal Machine Tools Ltd.

Other machine tools & parts thereof

36.24

42.58

0.55

0.48

0.73

0.79

4.16

7.66

11%

18%

3

Wendt (India) Ltd.

Machine tools

51.99

55.49

0.46

0.47

1.24

1.22

14.95

14.6

29%

26%

4

Guindy Machine Tools Ltd.

Machine tools

31.17

31.42

0.44

0.48

0.86

0.85

8.97

9.16

29%

29%

5

I T L Industries Ltd.

Sawing or cutting off machines

22.14

33.87

0.71

0.76

2.83

3.12

2.72

3.43

12%

10%

6

Kulkarni Power Tools Ltd.

Machine tools for drilling, boring, milling, etc.

44.75

58.55

0.66

0.66

1.03

1.18

8.95

9.85

20%

17%

7

T A L Manufacturing Solutions Ltd.

Machine tools

141.05

218.84

0.72

0.76

5.64

2.71

13.65

17.85

10%

8%

8

A C E Designers Ltd.

Lathes

266.76

245.15

0.61

0.64

5.27

2.46

74.68

64.25

28%

26% 33%

9

Revathi Equipment Ltd.

Drilling machines

92.5

125.87

0.61

0.64

1.28

5.78

26.39

40.99

29%

10

Bajaj Ventures Ltd.

Machine tools

34.46

47.76

0.78

0.76

2.87

4.03

2.4

7.73

7%

16%

11

Akar Tools Ltd.

Machine tools

55.55

69.9

0.69

0.65

2.11

1.40

4.7

6.92

8%

10%

12

Mitsubishi Heavy Inds. India Precision Tools

Machine tools

37.45

42.99

0.42

0.38

0.61

0.28

13.56

14.81

36%

34%

13

Premier Ltd.

Machine tools

86.04

111.07

0.68

0.63

1.00

0.59

63.97

36.71

74%

33%

14

Dagger-Forst Tools Ltd.

Broaching machines

36.79

41.2

0.59

0.58

0.41

0.42

7.5

5.97

20%

14%

15

Forbes & Co. Ltd.

Machine tools

629.64

268.98

0.67

0.55

1.32

1.03

67.92

31.92

11%

12%

16

Electronica Machine Tools Ltd.

Machines for working on wire

132.52

117.65

0.70

0.80

2.66

2.41

17.34

13.31

13%

11%

17

H M T Machine Tools Ltd.

Machine tools

237.71

240.77

0.52

0.54

4.09

3.17

-98.76

-27

-42%

-11%

18

Addison & Co. Ltd.

Drilling machines

132.63

154.41

0.76

0.73

1.83

1.97

16.19

20.27

12%

13%

19

A S B International Pvt. Ltd.

Machine tools

157.18

172.82

0.71

0.70

1.43

1.68

31.7

17.62

20%

10%

20

Bemco Hydraulics Ltd.

Hydraulic presses

19.13

20.9

0.76

0.71

2.00

2.32

1.85

2.26

10%

11%

non electricAl mAchinerY 1

Xomox Sanmar Ltd.

Industrial valves

59.05

65.25

0.53

0.57

5.50

6.42

19.86

19.95

34%

31%

2

Swaraj Engines Ltd.

Diesel engines

129.62

128.84

0.74

0.75

2.97

3.20

27.19

26.63

21%

21%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

116

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www.industry20.com


small manufacturing companies

2007

Creditors Days Available (Days)

2008

2007

2008

Raw Material Holding Period (Days) 2007

WIP Holding Period (Days)

2008

2007

2008

Finished Goods Holding Period (Days) 2007

Composite Score

2008

42.21

56.89

211.28

139.17

45.97

55.38

25.89

32.42

36.21

52.94

59.7

92.83

110.75

1357.14

1510.9

130.67

107.48

5.35

7.51

102.57

113.44

62.2

20.54

24.6

104.06

103.42

72.31

75.25

12.78

10.84

50.56

41.61

63.2

57.71

77.91

142.48

75.38

129.38

193.83

45.33

67.4

74.97

77.81

65.1

68.51

68.89

82.1

75.29

123.86

132.04

126.66

116.65

48.3

61.17

68.0

22.75

65.04

67.96

198.9

37.91

111.11

13.87

80.38

29.64

105.26

69.8

155.76

149.43

758.44

707.01

262.66

242.84

21.2

15.51

97.19

101.74

76.4

52.79

50.42

42.13

57.75

14.54

13.74

3.39

4.59

12.0

85.88

92.76

37.97

30.21

7.56

7.24

10.35

12.02

15.5

36.37

49.52

31.27

36.06

57.92

43.09

20.38

15.77

14.91

13.04

16.0

35.79

49.78

37.04

61.62

59.26

57.41

8.49

11.42

6.25

8.13

16.6

893.03

450.02

1033.87

1205.1

107.17

100.06

19.72

18.74

2.59

0.85

17.2 20.8

43.51

62.63

46.08

51.84

139.77

195.39

35.85

70.07

3.07

2.62

92.32

102.07

73.62

70.68

64.01

57.67

45.93

53.52

46.87

58.44

21.1

48.64

61.23

64.55

90.08

22.04

32.59

15.64

60.22

5.84

14.19

21.5

82.78

52.45

165.25

1239.57

65.43

49.89

2.25

2.45

142.29

207.19

21.9

47.89

55.79

69.82

93.74

87.73

112

19.57

18.39

4.83

8.62

22.1

49.24

57.22

87.53

83.98

41.85

44.57

79.38

72.84

19.7

26.27

23.4

21.99

22.06

58.84

60.11

55.38

50.91

18.13

19.15

51.68

68.33

24.1

16.52

17.31

57.39

71.99

84.28

81.73

6.22

15.77

5.51

15.85

24.2

158.24

86.67

216.39

119.15

471.32

323.91

31.51

25.2

53.99

20.27

27.1

46.49

73.83

27.61

35.53

15.25

8.49

4.67

6.36

12.6

64.6

76.63

79.07

27.48

43

13.88

16.77

0.67

1.03

18.5

75.27

76.49

85.04

61.8

64.12

62.46

16.97

18.03

5.81

2.62

18.8

28.16

34

70.29

70.54

36.42

35.75

24.9

37.7

8.82

14.36

22.7

100.96

83.2

211.95

109.48

92.07

70.07

24.09

14.52

0

0.68

22.7

91.8

81.64

89.58

73.21

58.22

53.63

36.31

29.26

25

17.02

24.0

82.66

80.7

103.31

136.41

71.52

45.8

46.52

26.1

2.34

2.42

24.3

45.56

64.36

79.42

91.05

23.95

37.95

27.07

50.79

13.53

12.99

25.7 26.6

99.07

103.23

89.23

74.55

122.01

91.68

118.52

96.32

29.09

18.62

93.88

79.67

97.75

88.97

82.79

62.43

19.55

10.04

63.82

55.71

27.3

57.33

59.69

68.2

55.43

31.23

25.58

52.96

56.59

24.99

22.5

28.4 29.5

68.79

79.76

36.5

260.09

175.78

214.18

38.87

34.6

1.75

1.74

351.98

209.97

91.52

113.04

65.31

103.74

38.97

49.06

30.31

44.83

31.6

65.94

90.25

71.75

90.87

170.4

200.73

51.31

42.44

12.69

15.55

32.7

66.69

119.83

110.69

158.99

73.4

156.98

18.82

37.51

29.28

49.22

33.8

64.8

89.02

92.24

93.9

116.39

164.98

60.72

97.38

7.05

8.19

35.5

111.2

133.67

224.2

195.94

173.59

199.77

79.94

97.33

41.24

39.95

36.8 36.8

73.92

72.1

61.67

62.21

80.2

57.84

151.52

167.96

74.28

86.42

39.98

33

73.27

92.37

94.3

114.53

43.12

52.08

29.18

26.02

39.1

78.69

98.54

259.52

239.04

50.05

64.55

79.98

121.56

82.46

78.75

39.6

62.9

80.11

58.62

49.91

47.34

48.53

19.55

19.98

0.04

0.06

33.9

93.55

66.64

36.06

31.33

27.5

29.48

1.2

1.95

7.31

4.15

42.4

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

mAchine

98.88

tools

71.63 58.03

leAther

79.4 50.15

& leAther ProDucts

72.31 45.08

glAss

Debtors Days Available (Days)

& CErAMICs

WORKING CAPITAL CyCLE

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

117


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

3

Company Name

Industrial Activity

Shilp Gravures Ltd.

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

Printing machinery

26.21

34.1

0.42

0.43

0.48

0.54

8.79

12.93

34%

38%

4

W P I L Ltd.

Pumps

64.83

109.84

0.64

0.74

3.48

6.68

6.78

11.68

10%

11%

5

Cenlub Industries Ltd.

Pumps

11.7

14.77

0.81

0.62

4.86

2.85

1.61

1.88

14%

13%

6

Anfilco Ltd.

Environment Control Equipment

22.79

22.48

0.69

0.70

0.82

0.83

3.13

2.97

14%

13%

7

Vanaz Engineers Ltd.

Other valves

85.99

134.04

0.71

0.68

5.33

7.01

9.16

11.86

11%

9%

8

Avery India Ltd.

Weighing machinery

66.57

75.12

0.60

0.64

10.10

9.45

9.7

10.55

15%

14%

9

Johnson Pump (India) Ltd.

Centrifugal pumps

33.39

46.58

0.70

0.67

3.67

5.06

5.29

6.58

16%

14%

10

Lincoln Helios (India) Ltd.

Industrial machinery

72.77

96.35

0.56

0.53

10.25

15.55

22.55

35.4

31%

37%

11

Fairfield Atlas Ltd.

Gears

110.5

157.08

0.62

0.66

1.35

2.06

23.26

29.97

21%

19%

12

Rajoo Engineers Ltd.

Rubber & plastic products machinery

40.61

44.42

0.70

0.81

4.21

4.74

4

4.81

10%

11%

13

Galaxy Agrico Exports Ltd.

Agricultural implements

26.25

15.02

0.67

0.69

2.97

1.65

1.81

1.26

7%

8%

14

A B C Bearings Ltd.

Ball or roller bearings

184.54

168

0.55

0.53

2.66

2.27

42.64

35.03

23%

21%

15

International Combustion (India) Ltd.

Mining, construction & earth moving machinery

80.23

95.89

0.59

0.65

2.56

3.12

15.9

21.45

20%

22%

16

Remi Process Plant & Machinery Ltd.

Agitators & mixers

18.38

23.9

0.77

0.74

3.26

3.27

2.8

3.44

15%

14%

17

Bharat Pumps & Compressors Ltd.

Compressors

128.22

177.54

0.73

0.62

13.36

15.09

148.29

38.17

116%

21%

18

Mather & Platt Pumps Ltd.

Centrifugal pumps

132.09

182.9

0.68

0.75

6.57

7.53

17.01

20.76

13%

11% 13%

19

V S T Tillers Tractors Ltd.

Power tillers

163.88

190.55

0.70

0.78

4.13

5.01

22.64

25.6

14%

20

Anest Iwata Motherson Ltd.

Industrial valves

14.1

15.43

0.70

0.64

1.11

0.66

1.54

1.77

11%

11%

21

G G Dandekar Machine Works Ltd.

Rice mill machinery

19.81

18.85

0.51

0.56

27.51

21.14

25.31

5.56

128%

29%

22

Kilburn Engineering Ltd.

Dryers

64.32

73.46

0.73

0.72

9.93

6.55

6.44

31.68

10%

43%

23

Coen Bharat Ltd.

Furnace burners

23.19

38.54

0.87

0.57

7.96

9.12

2.47

2.3

11%

6%

24

Kerala Agro Machinery Corpn. Ltd.

Agricultural machinery

92.09

103.05

0.74

0.78

10.99

13.27

9.43

10.25

10%

10% 15%

25

Orson Holdings Co. Ltd.

Industrial valves

8.05

15.3

0.66

0.56

2.40

2.80

1.1

2.29

14%

26

Ferromatik Milacron India Ltd.

Injection moulding machines

135.07

165.76

0.65

0.67

3.38

3.63

16.98

23.7

13%

14%

27

Sulzer India Ltd.

Textile (incl. jute) machinery

85.02

130.25

0.61

0.59

2.81

4.17

11.27

29.35

13%

23%

28

Anup Engineering Ltd.

Chemical machinery

31.62

63.85

0.96

0.57

12.44

9.15

2.37

13.56

7%

21%

29

Kabra Extrusiontechnik Ltd.

Rubber & plastic products machinery

127.72

147.01

0.82

0.78

2.78

2.81

14.2

23.33

11%

16%

30

Bosch Rexroth (India) Ltd.

General purpose machinery

221.76

270.18

0.71

0.74

4.82

5.19

35.38

46.77

16%

17%

31

Kansara Bearings Ltd.

Ball or roller bearings

15.69

16.16

0.73

0.78

3.72

5.38

2.93

1.75

19%

11%

32

Shivagrico Implements Ltd.

Agricultural implements

13.95

12

0.50

0.48

1.83

1.43

1.37

1.6

10%

13%

33

Eaton Fluid Power Ltd.

Other valves

126.39

164.45

0.83

0.74

4.04

5.08

10.63

16.3

8%

10%

34

G M M Pfaudler Ltd.

Chemical machinery

116.24

146.17

0.60

0.69

2.46

3.40

21.82

26.72

19%

18%

35

Lokesh Machines Ltd.

General purpose machinery

90.35

110.43

0.30

0.30

0.41

0.42

24.79

29.72

27%

27%

36

Shanthi Gears Ltd.

Gears

203.34

245.98

0.51

0.52

0.57

0.63

77.87

96.85

38%

39% 12%

37

Sam Turbo Industry Ltd.

Pumps

56.13

71.54

0.65

0.65

3.51

4.95

6.49

8.31

12%

38

Crane Process Flow Technologies (India) Ltd.

Industrial valves

65.06

55.83

0.64

0.61

8.84

6.58

8.88

0.39

14%

1%

39

Premier Irrigation Equipment Ltd.

Agricultural machinery

66.08

25.41

0.67

0.65

4.07

4.91

6.07

2.07

9%

8%

40

Alfred Herbert Ltd.

Rubber manufacturing machinery

18.29

17.01

0.70

0.62

18.96

13.68

1.22

0.98

7%

6%

41

Shakti Pumps (India) Ltd.

Pumps

40.24

61.16

0.75

0.85

2.69

1.81

5.03

8.13

13%

13%

42

Flender Ltd.

Gears

113.11

136.31

0.53

0.63

1.84

1.99

29.49

32.02

26%

23%

43

Austin Engineering Co. Ltd.

Ball or roller bearings

64.48

73.6

0.54

0.57

2.71

2.93

11.37

12.29

18%

17%

44

Veejay Lakshmi Engg. Works Ltd.

Textile (incl. jute) machinery

81.86

79.27

0.61

0.74

1.33

1.29

14.29

20.33

17%

26%

45

D H P India Ltd.

Other valves

10.18

12.19

0.75

0.66

1.31

1.45

1.34

1.92

13%

16%

46

Kilburn Office Automation Ltd.

Franking machines

29.16

29.89

0.84

0.77

10.84

9.76

6.24

6.6

21%

22%

47

S N L Bearings Ltd.

Needle roller bearings

14.81

16.05

0.50

0.47

1.18

1.95

4.06

4.47

27%

28%

48

Polymechplast Machines Ltd.

Rubber & plastic products machinery

12.35

15.78

0.86

0.77

6.14

7.73

1.05

1.62

9%

10%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

118

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

100.56

95.45

78.24

94.58

53.02

52.27

21.12

14.48

0.67

0.39

43.8

144.81

115.5

110.56

127.91

65.74

33.47

16.83

6.37

4.54

3.43

50.6

80.66

75.05

64.97

51.3

58.2

38.76

8.67

10.95

9.68

8.28

54.4

NA

149.12

119.31

110.95

NA

42.07

NA

1.87

NA

4.26

57.2

37.94

34.68

14.73

13.93

52.99

47.57

2

1.29

57.8

87.75

69.17

92.12

86.48

9.15

8.38

2.48

3.58

62.2

91.97

86.26

93.25

94.01

76.19

70.84

13.42

12.86

5.64

4.97

63.3 64.6

NA

77.59

89.74

105.69

NA

66.04

NA

24.78

NA

12.31

31.69

41.77

150.15

86.64

31.55

29.31

39.32

28.39

4.29

6.12

67.7

73.82

111

97.29

128.91

19.44

15.24

17.49

9.51

3.06

13.25

67.8

30.55

44.77

31.14

36.98

29.01

53.95

17.02

37.35

11.85

2.21

71.0

64.53

78.29

51.99

65.62

32.59

35.81

27.11

26.85

29.52

35.96

72.0

60.99

73.54

88.42

92.04

71.77

66.34

19.57

13.29

16.51

15.13

73.3

41.56

66.6

58.65

167.23

52.89

73.9

19.15

24.66

0.45

0.37

73.8

159.21

130.73

112.72

109.6

112.58

80.9

61.01

51.21

9.75

6.4

73.9

123.21

155.37

130.67

160.81

25.73

46.21

31.68

26.91

8.3

14.05

74.9

47.78

52.14

85.15

89.22

68.51

68.42

6.37

2.75

6.15

9.65

75.4

87.15

103.33

85.19

80.72

85.15

87.99

6.76

7.63

4.58

9.7

76.0

3.84

1.27

92.04

55.66

77.92

102.36

18.73

18.5

6.46

13.71

76.8

102.92

96.15

190.14

198.75

24.22

31.72

52.66

76.52

9.92

9.04

77.1

143.94

70.63

123.62

75.37

79.2

79.49

133.79

71.08

0

1.76

77.8

44.92

57.9

57.47

40.48

59.15

61.5

18.47

17.98

33.46

17.43

78.0

23.47

44.63

6.01

20.74

90.36

61.29

20.93

22.5

30.94

29.83

78.8

36.68

38.18

107.34

90.25

96.2

96.5

31.62

28.62

1.82

1.29

79.8

73.41

44.08

124.53

107.68

104.47

86.2

7.15

35.73

10.2

5.85

81.8

76.6

57.29

97.31

43.72

49.34

54.3

45.57

92.55

25.89

17.64

83.3

30.35

32.56

53.47

70.13

58.47

69.56

41.44

50.77

1.78

1.56

84.2

98.67

95.18

90.35

79.58

87.81

98.38

19.7

25.94

16.61

16.12

84.3

4.22

13.32

114.64

123.31

35.37

54.38

13.67

16.46

7.17

8.89

84.7

34.47

31.48

26.75

54.63

43.06

79.46

29.63

27.15

19.22

11.89

85.4

106.82

112.22

103.43

103.49

58.54

60.43

32.02

23.89

30.47

28.51

85.9

63.52

69.87

95.28

96.48

120.57

83.69

57.92

78.19

1.38

0.76

86.4

88.34

91.29

92.36

90.72

30.36

37.09

136.49

160.11

13.43

16.51

87.0

38.86

37.02

57.99

45.94

120.25

102.26

74.53

74.61

4.89

3.05

87.0

NA

23.44

131.69

104.65

NA

29.6

NA

48.61

NA

15.43

88.9

75.53

86.93

106.52

85.43

76.32

117.3

42.55

36.64

9.92

9.67

89.0

165.31

304.38

112.82

63.06

20.43

39.5

33.73

75.89

74.62

143.25

89.9

69.21

79.26

139.87

129.81

94.19

98.27

115.57

71.5

4.15

2.74

91.9

77.41

71.03

25.3

41.96

53.75

58.62

83.74

42.23

16.84

20.58

92.9

49.79

55.48

112.2

132.68

87.79

86.22

26.75

46.98

15.75

6.8

93.5

88.64

84.77

88.94

80.09

57.45

56.43

126.84

154.01

26.66

25.67

94.2

5.57

10.94

77.65

72.8

49.95

57.72

103.3

119.2

6.36

3.59

94.6

10.94

7.55

56.15

51.99

139.29

111.61

3.93

1.73

18.63

26.53

95.3

397.25

326.57

438.92

374.68

375.53

306.51

5.34

7.07

182.5

207.6

97.5

76.66

83.26

44.24

47.01

106.64

103.98

53.79

61.31

39.63

32.34

98.2

64.4

81.74

111.33

107.97

81.34

60.46

56.02

53.55

22.9

19.4

99.4

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

non electricAl

28.22 56.08

MAChInEry

26.4 58.74

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

119


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

49

Company Name

Rieter-Lmw Machinery Ltd.

Industrial Activity

Textile spinning machines

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

128.49

147.52

0.75

0.77

4.13

2.59

13.05

10.31

10%

7%

50

Gansons Ltd.

Chemical machinery

47.49

48.04

0.76

0.84

5.34

6.07

3.51

2.94

7%

6%

51

Swiss Glascoat Equipments Ltd.

Other chemical machinery

33.26

41.4

0.67

0.62

1.60

1.92

4.62

6.21

14%

15%

52

Bharat Heavy Plate & Vessels Ltd.

Chemical machinery

172.24

167.53

0.50

0.76

5.99

9.50

23.63

-43.46

14%

-26%

53

Stovec Industries Ltd.

Printing machinery

37.14

31.15

0.62

0.71

4.20

2.52

4.27

4.19

11%

13%

54

Windsor Machines Ltd.

Rubber & plastic products machinery

101.29

115.05

0.78

0.79

5.30

6.71

-16.28

-22.36

-16%

-19%

55

Hari Machines Ltd.

Other industrial machinery

87.27

109.03

0.88

0.81

3.36

2.98

10.1

11.47

12%

11%

56

Glass Equipment (India) Ltd.

Other industrial machinery

10.55

18.05

0.50

0.59

1.23

1.22

2.04

3.4

19%

19%

57

Belliss India Ltd.

Steam turbines

57.63

24.4

0.78

0.73

13.40

6.08

3.78

1.47

7%

6%

58

U T Ltd.

Gears

88.11

104.22

0.67

0.80

2.81

3.34

7.52

1.53

9%

1% 9%

59

Lagan Engineering Co. Ltd.

Textile (incl. jute) machinery

14.29

25.09

0.37

0.26

0.85

0.69

1.23

2.21

9%

60

Lakshmi Automatic Loom Works Ltd.

Textile (incl. jute) machinery

35.67

23.18

0.71

0.59

5.50

3.06

4.7

1.19

13%

5%

61

Schlafhorst Engineering (India) Ltd.

Textile winding or reeling machines

11.6

12.31

0.98

0.67

2.68

2.10

11.15

2.4

96%

19%

62

H M T Bearings Ltd.

Ball or roller bearings

26.19

13.36

0.71

0.99

3.63

3.19

-2.97

-14.26

-11%

-107%

202.46

206.5

0.91

0.93

9.72

7.78

10.55

9.86

5%

5%

non ferrous metAls 1

Hind Aluminium Inds. Ltd.

Aluminium bars & rods

2

Palco Metals Ltd.

Aluminium castings

95.78

99.94

0.88

0.90

12.28

6.63

3.66

4.76

4%

5%

3

P G Foils Ltd.

Aluminium foils

103.15

179.74

0.84

0.82

12.66

18.90

4.7

15.58

5%

9%

4

Hindustan Tin Works Ltd.

Tin container

174.23

185.8

0.85

0.92

4.29

4.26

14.65

15.25

8%

8%

5

Cubex Tubings Ltd.

Copper tubes & pipes

92.29

97.78

0.83

0.78

7.98

6.85

34.17

6.95

37%

7%

6

Century Extrusions Ltd.

Other aluminium products

102.66

101.56

0.87

0.87

12.61

12.13

4.68

7.67

5%

8%

7

Alumeco India Extrusion Ltd.

Other aluminium products

70.75

126.21

0.87

0.91

6.02

11.33

3.33

4

5%

3%

8

Man Aluminium Ltd.

Other aluminium structures

38.67

40.29

0.89

0.90

3.40

3.41

4.09

3.76

11%

9%

9

Light Alloy Products Ltd.

Aluminium castings

48.8

51.46

0.49

0.42

1.43

0.74

16.84

17.78

35%

35%

10

Sudal Industries Ltd.

Other aluminium products

68.76

68.26

0.86

0.81

4.17

3.73

4.76

6.47

7%

9%

11

Fibre Foils Ltd.

Tin container

20.66

30.15

0.70

0.66

1.16

0.52

2.25

5.05

11%

17%

12

Nissan Copper Ltd.

Copper products, nec

95.37

129.63

0.84

0.88

3.68

3.73

9.77

16.92

10%

13%

13

Aluminium Powder Co. Ltd.

Aluminium powders, flakes & paste

14.19

17.03

1.01

0.41

8.21

4.64

2.21

2.71

16%

16%

14

Alom Extrusions Ltd.

Aluminium structures

73.68

80.5

0.90

0.92

5.82

3.86

3.11

3.94

4%

5%

15

India Foils Ltd.

Aluminium foils

208.63

168.95

0.88

0.91

1.23

1.16

2.39

5.13

1%

3%

16

Bhoruka Aluminium Ltd.

Other aluminium products

114.71

147.76

0.84

0.82

5.92

5.18

8.56

16.57

7%

11% -6%

17

Shree Narmada Aluminium Inds. Ltd.

Other aluminium products

13.52

15.65

0.95

1.10

8.62

12.40

-0.95

-0.99

-7%

18

Baroda Extrusion Ltd.

Copper products, nec

18.51

20.29

1.03

0.80

8.80

8.14

6.54

1.2

35%

6%

19

Shetron Ltd.

Tin

85.99

106.46

0.72

0.73

1.05

1.09

16.44

18.87

19%

18%

20

Arcotech Ltd.

Non-ferrous metals, nec

3.42

27.61

2.19

1.00

0.60

1.91

0.39

2.16

11%

8%

21

Multimetals Ltd.

Copper tubes & pipes

110.84

103.22

0.94

0.78

10.98

7.15

9.67

11.6

9%

11%

22

Sacheta Metals Ltd.

Aluminium kitchen ware

31.55

29.06

0.90

0.84

7.35

4.04

0.9

1.63

3%

6% 13%

23

Rapicut Carbides Ltd.

Tungsten

15.03

17.56

0.68

0.86

7.87

11.52

1.61

2.32

11%

24

Indo Alusys Inds. Ltd.

Other aluminium products

98.39

145.16

0.98

0.84

1.45

0.90

6.53

8.79

7%

6%

25

Alcobex Metals Ltd.

Copper tubes & pipes

151.92

108.52

0.85

0.81

7.72

5.69

2.56

-9.73

2%

-9%

26

Gujarat Foils Ltd.

Aluminium foils

88.35

83.47

1.08

1.06

15.06

15.59

3.86

4.16

4%

5%

27

Shalimar Wires Industries Ltd.

Copper wire

65.41

67.42

0.50

0.48

0.46

0.52

25.31

27.04

39%

40%

28

Rose Zinc Ltd.

Zinc

51.28

52.92

0.84

0.83

5.17

5.42

2.65

3.37

5%

6%

29

Oriental Containers Ltd.

Tin container

100.24

126.03

0.72

0.72

0.80

1.07

9.79

7.8

10%

6%

30

Chloride Metals Ltd.

Lead

26.51

62.43

0.82

0.86

5.45

4.15

2.34

5.66

9%

9%

31

Rane Diecast Ltd.

Aluminium castings

8.87

16.37

1.03

0.89

0.42

0.71

-1.16

0.04

-13%

0%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

120

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small manufacturing companies

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

43.11

21.03

81.05

90.45

63.3

77.31

28.92

31.87

11.09

9.45

100.8 102.0

35

54.38

94.59

149.53

48.34

48.38

50.1

59.1

5.93

10.68

46.11

56.31

86.23

101.28

112.04

107.52

64.48

74.34

9.1

5.35

103.1

165.48

212.53

448.75

355.11

179.51

112.44

43.44

36.78

21.03

16

105.4

108.35

123.92

83.46

178.09

135.32

112.4

48.42

48.45

13.28

14.17

105.7

25.53

23.05

211.23

198.91

175.45

93.62

102.13

48.94

1.88

2.39

105.9

38.03

42.17

107.26

123.78

145.25

142.37

41.39

58

0.5

0.39

108.2

NA

66.71

59.86

48.93

NA

283.74

NA

49.65

NA

30.77

110.2

38.73

82.82

130.63

240.83

86.83

248.07

22.83

60.54

3.1

6.42

112.8

68.14

61.63

158.54

120.58

221.84

240.37

101.06

115.59

7.39

3.42

119.4

2.17

1.82

128.47

97.29

151.06

155.94

64

45.02

38.47

16.71

119.7

23.5

44.4

177.12

299.44

94.72

120.03

33.42

50.89

10.67

16.25

123.8

51.84

24.36

71.7

60.83

148.87

163.8

53.28

87.31

15.6

35.29

127.2

99.41

147.14

157.77

295.72

83.06

144.17

55.55

58.95

27.04

26.73

129.3

40.14

41.21

51.8

30.64

12.32

3.64

0.57

2.97

1.55

2.37

25.6 27.2

23.04

39.77

17.25

10.41

12.76

11.89

0.15

0.04

8.61

5.35

103.93

72.71

51.97

22.53

42.71

49.6

8.12

8.57

17.44

9.09

31.8

93.51

93.87

25.47

50.28

45.19

27.27

10.93

9.8

8.57

8.05

33.6

57.05

71.19

25.38

13.78

8.85

6.69

27.81

17.38

0.82

17.39

33.8

28.9

37.02

34.6

23.65

19.18

16.15

19.73

16.21

2.08

2.92

33.9

23.8

20.39

128.35

56.9

59.89

38.43

8.2

3.06

2.62

0.59

34.7 35.6

28.24

38.31

NA

7.96

NA

18.18

NA

7.93

55.53

30.51

71.89

25.23

49.63

16

14.97

6.74

1.13

37.2

52.21

52.29

100.67

71.83

51.25

51.6

15.85

12.67

0.36

0.37

38.2 39.7

NA

50.45

80.2

60.35

NA

73.26

NA

11.38

NA

1.7

58.87

82.16

62.84

74.3

20.14

26.98

33.25

33.22

16.43

10.03

43.1

45.91

46.54

8.65

15.58

75.52

44.76

12.36

14.58

66.79

48.65

43.9

36.44

28.03

74.35

50.05

20.36

17.72

10.88

12.3

9.05

9.73

44.4

66.16

80.31

103.85

141.26

26.18

28.54

6.72

6.79

6.79

9.92

44.8

28.96

28.81

58.57

49.84

43.64

38.56

21.38

20.05

9.84

9.64

45.3

41.5

58.14

527.55

438.9

45.54

37.29

8.84

4.57

0.88

10.13

45.4

38.55

38.56

94.22

91.38

3.81

13.06

54.41

51.44

8.63

10.03

47.2

74.42

52.98

53.01

77.83

137.37

122.05

35.76

31.18

2.83

2.2

47.6

29.81

15.98

116.01

61.73

14.76

7.26

288.73

89.27

-0.84

4.27

48.1

39.93

50.69

51.05

77.43

33.47

29.3

45.5

77.92

11.6

11.25

49.5

20.82

23.85

39.35

94.54

42.92

97.46

7.3

7.84

3.68

7.14

50.9

58.24

53.59

35.39

18.77

70.94

51.4

40.51

48.37

57.22

50.56

51.5

47.72

37.7

91.64

70.53

44.42

45.27

5.11

6.34

32.73

26.45

51.6

53.81

57.66

89.58

96.44

22.41

27.14

50.52

52.02

10.58

11.22

51.6

45.37

51.17

69.93

91.97

23.09

27.19

11.51

15.84

14.1

34.89

52.5

237.28

246.51

381.13

400.24

121.99

153.08

160.17

205.62

4.18

5.14

52.8

32.74

57.49

116.12

164.91

157.4

182.5

2.29

6.27

33.53

31.85

54.4

NA

84.67

101.07

99.63

NA

69.5

NA

16.37

NA

22.28

55.5

NA

7.1

16.05

70.32

NA

73.96

NA

11.13

NA

22.1

55.8

80.78

84.71

119.33

152.7

50.57

56.47

13.98

8

39.81

58.88

59.1

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

non ferrous

68.33

METAls

NA 35.44

non electricAl

Debtors Days Available (Days)

MAChInEry

WORKING CAPITAL CyCLE

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

121


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

32

Company Name

Industrial Activity

Mardia Samyoung Capillary Tubes Co. Ltd.

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

Brass

32.16

10.68

0.86

1.21

10.18

2.04

4.03

0.59

13%

6%

non metAllic minerAl ProDucts 1

Deccan Granites Ltd.

Granite

46.93

43.62

0.73

0.74

2.61

2.55

2.27

1.96

5%

4%

2

John Oakey & Mohan Ltd.

Abrasive powder or grain on a base

24.9

26.68

0.87

0.56

8.98

6.04

1.38

1.83

6%

7%

3

Welcast Steels Ltd.

Abrasive powder or grain on a base

133.39

153.21

0.77

0.80

8.02

8.64

7.99

7.7

6%

5%

4

Divyashakti Granites Ltd.

Granite

37.28

31.76

0.58

0.58

1.35

1.28

7.27

6.09

20%

19%

5

Ashok Granites Ltd.

Granite

24.72

25.69

0.48

0.53

1.41

1.79

3.24

3.26

13%

13%

6

G T P Granites Ltd.

Granite

51.2

47.56

0.48

0.55

1.43

1.77

8.48

6.49

17%

14%

7

Madhav Marbles & Granites Ltd.

Granite

89.92

83.81

0.56

0.43

1.11

0.87

21.7

13.12

24%

16%

8

Kesar Marble & Granite Ltd.

Granite

24.89

45.38

0.69

0.35

0.88

0.82

2.79

23.33

11%

51%

9

Aro Granite Inds. Ltd.

Granite

104.03

101.43

0.56

0.78

0.85

1.06

18.44

16.62

18%

16%

10

Orient Abrasives Ltd.

Abrasive powder or grain on a base

192.8

244.06

0.74

0.69

1.77

1.81

41.77

41.13

22%

17%

11

Morganite Crucible (India) Ltd.

Ceramic ware for laboratory uses

18.88

19.45

0.50

0.51

0.86

0.60

3.4

3.21

18%

17%

12

Aankit Granites Ltd.

Granite

14.24

10.61

0.51

0.59

4.16

3.68

0.26

0.36

2%

3%

13

Jyoti Ceramic Inds. Pvt. Ltd.

Grinding wheels of synthetic abrasives

45.03

50.58

0.36

0.29

0.91

0.85

23.91

28.81

53%

57%

14

Milestone Global Ltd.

Granite

11.28

10.15

0.55

0.64

1.02

1.15

1.22

1.34

11%

13%

15

Himalaya Granites Ltd.

Granite

14.21

12.33

0.61

0.52

1.28

1.13

0.93

-0.99

7%

-8%

16

Sri Vajra Granites Ltd.

Granite

17.92

13.51

0.58

0.73

1.67

1.83

1.87

1.36

10%

10%

17

Sahyadri Industries Ltd.

Corrugated asbestos sheets

159.72

203.39

0.65

0.80

1.12

2.31

23.79

31.11

15%

15%

18

Pacific Industries Ltd.

Granite

52.78

72.27

0.62

0.53

1.85

2.33

6.08

13.64

12%

19%

19

Tamil Nadu Minerals Ltd.

Granite

105.78

100.07

0.27

0.51

1.31

2.55

9.05

5.69

9%

6%

20

Pokarna Ltd.

Granite

153.24

149.45

0.54

0.44

0.69

0.27

23.9

23.5

16%

16%

21

Glittek Granites Ltd.

Granite

17.09

11.39

0.54

0.65

0.91

0.62

2.21

1.61

13%

14%

131.55

152.93

0.58

0.59

0.97

1.13

22.37

29.16

17%

19%

PAPer AnD wooD ProDucts 1

Repro India Ltd.

Printed books, brochures, etc.

2

Greenland Paper Mills Ltd.

Kraft paper & paperboard

11.96

12.1

0.86

0.85

5.20

5.22

0.81

0.91

7%

8%

3

Madhyadesh Papers Ltd.

Newsprint

44.93

41.1

0.68

0.74

0.97

0.95

7.98

5.68

18%

14%

4

Vishal Coaters Ltd.

Paper

18.16

21.61

0.67

0.61

2.39

2.62

1.49

1.96

8%

9%

5

Kalptaru Papers Ltd.

Newsprint

35.66

37.81

0.69

0.68

1.11

1.16

6.35

5.82

18%

15%

6

Sree Sakthi Paper Mills Ltd.

Paper & paperboard, corrugated, crepped,

61.89

107.89

0.77

0.75

1.25

2.14

7.76

12.04

13%

11%

7

Shree Jagdambe Paper Mills Ltd.

Kraft paper & paperboard

12.41

12.23

0.74

0.75

1.89

1.90

1.19

0.95

10%

8%

8

South India Paper Mills Ltd.

Kraft paper & paperboard

113.63

122.61

0.70

0.71

1.60

1.74

18.58

19.74

16%

16%

9

K C L Ltd.

Cartons, boxes, cases, etc.

56.2

61.68

0.76

0.73

1.57

1.64

5.09

8.4

9%

14%

10

Rama Paper Mills Ltd.

Writing, printing paper

83.84

84.57

0.72

0.67

1.08

1.01

12.14

15.65

14%

19% 5%

11

Nice Papers Ltd.

Kraft paper & paperboard

14.46

14.15

0.94

0.88

3.82

3.49

0.19

0.68

1%

12

Gaurav Paper Mills Ltd.

Writing, printing paper

17.33

17.81

0.73

0.82

6.77

7.81

1.81

1.16

10%

7%

13

Infomedia 18 Ltd.

Printed books, newspapers, etc.

145.6

146.08

0.44

0.49

2.27

2.51

18.03

4.97

12%

3%

14

Perfectpac Ltd.

Cartons, boxes, cases, etc.

64.52

71.33

0.84

0.83

4.13

4.51

3.99

3.83

6%

5%

15

Rainbow Papers Ltd.

Kraft paper & paperboard

141.91

166.59

0.61

0.58

0.91

1.01

28.09

36.77

20%

22%

16

Bindlas Duplux Ltd.

Kraft paper & paperboard

40.36

40.32

0.57

0.48

0.80

0.67

5.35

6.55

13%

16%

17

Shreyans Industries Ltd.

Paper

198.31

218.91

0.78

0.75

2.04

2.18

24.87

30.15

13%

14%

18

Dev Priya Inds. Ltd.

Kraft paper & paperboard

37.95

50.02

0.86

0.88

4.52

6.11

3.05

4.31

8%

9%

19

Nikita Papers Pvt. Ltd.

Kraft paper & paperboard

21.53

24.62

0.55

0.54

1.21

1.37

1.49

1.67

7%

7%

20

N R Agarwal Inds. Ltd.

Kraft paper & paperboard

267.33

287.19

0.77

0.78

1.78

1.91

30.9

30.01

12%

10%

21

Magnum Ventures Ltd.

Paper

91.22

85.17

0.44

0.48

0.35

0.35

28.11

27.53

31%

32%

22

Shree Ajit Pulp & Paper Ltd.

Kraft paper & paperboard

50

56.63

0.82

0.81

3.55

3.99

4.5

5.8

9%

10%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

122

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

42.7

120.43

5.7

121.67

6.76

43.1

9.09

53.45

0.13

13.39

90.24

112.59

213.73

258.41

2.66

3

1.37

1.93

4.64

3.67

19.6

29.89

39.73

48.81

38.76

24.07

28.42

9.39

8.8

34.29

22.79

20.2 20.7

59.3

35.55

41.83

33.88

30.87

5.88

7.37

2.39

2.28

218.31

267.15

49.06

50.43

7.34

9.63

3.12

5.16

21.4

136.91

142.97

21.29

20.74

108.92

112.21

28.84

17.07

1.42

1.3

22.3 26.2

119.03

133.13

29.68

39.21

167.46

170.26

7.13

17.04

1.25

1.79

129.42

176.95

36.82

35.3

97.22

107.1

8.01

14.28

38.02

43.92

26.6

108.69

109.56

160.82

145.4

111.16

101.1

8.26

9.47

67.68

37.5

28.2

103.18

116.53

121.07

36.11

87.08

83

5.02

12.68

32.39

59.94

29.5

63.77

64.46

52.55

48.26

67.84

86.14

16.61

18.4

18.06

24.18

30.3

43.77

57.52

68.21

118.22

37.8

57.53

25.55

33.05

21.62

18.59

30.5

189.93

215.23

97.11

98.48

61.49

85.59

15.44

15.38

69.8

92.22

31.7

83.43

83.04

103.76

121.72

194.45

252.29

11.86

11.22

27.81

26.31

32.1

126.89

108.78

32.65

26.44

129.29

134.47

94.35

106.01

6.43

3.69

33.1

85.63

98.36

50.54

39.03

102.4

100.47

83.36

79.31

33.24

17.71

33.3

54.31

90.19

33.06

69.46

50.84

57.85

28.52

77.56

22.96

30.03

34.0

23.05

25.53

81.72

59.53

62.29

43.95

92.52

34.99

11.17

43.74

34.1

102.27

84.33

284.55

208.91

94.81

87.91

22.5

33.6

70.28

53.57

36.0

NA

4.74

136.18

200.4

NA

271

NA

5.73

NA

50.68

36.6

125.27

122.19

69.21

92.63

79.49

116.43

9.45

21.22

48.55

58.06

37.3

66.87

98.75

32.56

46.93

95.11

88.47

157.98

208.06

34.97

50.71

40.0

125.01

115.07

60.36

44.68

68.9

54.29

0.89

0.53

2.86

2.07

53.1 62.4

63.47

64.98

27.83

33.59

35.75

31.17

0.36

0.53

5.39

4.7

116.98

102.63

54.4

44.67

104.25

80.02

0.28

0.46

1.13

0.76

71.1

23.2

29.24

36.5

54.83

34.56

41.3

0

0.31

3.1

3.56

72.8

65.6

62.4

47.51

57.55

43.91

48.69

0.4

0.24

7.69

4

73.0

73.61

53.57

75.69

48.73

36.57

30.74

3.06

3.02

7.26

2.9

75.0

63.28

73.9

25.57

25.82

43.94

38.48

1.4

1.37

7.4

6.58

75.8

44.74

43.86

49.62

47.41

0.85

0.94

6.97

6.35

80.6

46.13

24.28

26.14

9.2

10.66

3.71

4.47

4.98

5.28

82.0

79.85

111.28

44.05

66.49

54.29

46.88

1.37

1.83

5.25

4.67

82.3 85.0

46.46

44.12

37.11

22.24

22.33

22.43

1.32

1.42

5.34

5.93

59.3

55.56

75.09

78.53

32.37

20.54

2.41

2.27

7

4.37

85.1

84.93

98.62

98.01

64.6

125.2

70.92

2.33

1.48

3.02

2.08

86.4 91.5

50.87

45.96

50.14

44.37

20.18

21.77

5.98

5.15

4.59

4.24

35.61

40.92

33.68

120.12

37.85

41.89

1.79

1.65

2.38

1.63

91.7

73.05

87.98

68.14

63.41

87.84

58.74

1.14

1.21

7.21

6.67

92.0

51.45

47.82

66.9

63.21

41.11

52.41

2.65

3.29

1.21

1.78

92.0

41.25

44.21

19.54

33.21

73.89

64.26

0.43

0.32

5.31

5.5

92.9

NA

32.48

44.63

46.96

NA

58.47

NA

0.85

NA

4.08

93.6

42.71

44.66

74.27

74.4

42.92

38.97

1.73

2.33

4.37

3.39

94.5

106.04

122.74

36.01

48.74

37.14

45.8

0.9

2

11.63

17.27

95.4

36.09

26.4

51.09

52.94

46.8

65.63

0.04

0.08

6.04

4.57

96.1

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

PAPer

51.62

& wOOD PrODuCTs

53.11 49.97

non metAllic

15.42 141.16

MInErAl PrOEuCTs

30.87 88.08

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

123


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

23

Parijat Paper Mills Ltd.

Kraft paper & paperboard

15.5

16.18

0.94

0.89

3.17

3.15

0.46

0.46

3%

3% 5%

24

Vamshadhara Paper Mills Ltd.

Kraft paper & paperboard

27.87

26.99

0.78

0.80

1.91

1.89

2.31

1.46

8%

25

Remco Paper & Board Inds. Ltd.

Kraft paper & paperboard

29

32.5

0.74

0.84

2.17

2.79

1.94

1.45

7%

4%

26

Gayatrishakti Paper & Boards Ltd.

Composite paper & paperboard (packaging

109.06

125.2

0.80

0.76

1.33

1.47

11.55

14.31

11%

11%

27

Modinagar Paper Mills Ltd.

Kraft paper & paperboard

23.26

26.44

0.88

0.83

3.61

3.87

1.68

1.56

7%

6%

28

Shree Rajeshwaranand Paper Mills Ltd.

Writing, printing paper

41.35

38.11

0.85

0.90

1.81

1.76

2.26

5.11

5%

13%

29

Sangal Papers Ltd.

Writing, printing paper

42.41

35.99

0.83

0.77

2.08

1.64

2.62

3.97

6%

11%

30

Novopan Industries Ltd.

Particle boards

77.91

80.61

0.59

0.63

1.17

1.29

13.28

16.07

17%

20%

31

Satia Paper Mills Ltd.

Writing, printing paper

170.61

176.29

0.72

0.74

1.39

1.47

21.71

22.73

13%

13%

32

Chandpur Enterprises Ltd.

Newsprint

21.52

37.17

0.85

0.76

2.55

3.97

1.11

1.7

5%

5%

33

Pudumjee Industries Ltd.

Paper

80.71

101.36

0.77

0.82

5.60

7.44

4.64

7.67

6%

8%

34

Ruchira Papers Ltd.

Paper

75.15

83.82

0.78

0.75

0.86

0.92

9.23

15.15

12%

18%

35

Karthikeya Paper & Boards Ltd.

Paper

19.46

18.93

0.65

0.75

3.85

4.30

3.12

0.87

16%

5% -12%

36

Vapi Paper Mills Ltd.

Paper

14.88

14.15

0.79

0.89

1.44

1.55

0.34

-1.72

2%

37

Sundaram Multi Pap Ltd.

Registers, account books, note books, etc.

82.65

111.49

0.83

0.79

4.98

6.43

8.35

14.13

10%

13%

38

Emami Paper Mills Ltd.

Paper

177.58

257.76

0.62

0.71

0.35

0.58

46.85

66.65

26%

26%

35.03

38.97

0.83

0.70

1.24

1.16

4.16

8.54

12%

22%

7.2

13.76

0.77

0.54

0.70

0.93

0.46

2.48

6%

18%

44.52

49.66

0.78

0.83

1.14

1.35

3.66

2.52

8%

5%

39

Sainsons Paper Inds. Ltd.

Writing, printing paper

40

U V Boards Ltd.

Plywood

41

Ajanta Paper & General Products Ltd.

Paper

42

Shree Karthik Papers Ltd.

Paper

13.77

19.15

0.60

0.72

1.67

2.78

7.21

3.85

52%

20%

43

T C P L Packaging Ltd.

Other printed matter

101.33

120.05

0.65

0.63

0.94

1.08

14.73

19.45

15%

16%

44

Shree Krishna Paper Mills & Inds. Ltd.

Paper

89.23

99.08

0.84

0.85

1.64

1.84

2.55

0.24

3%

0%

45

Nuchem Ltd.

Boards of woods

107.58

134.43

0.57

0.57

1.81

2.27

7.32

4.09

7%

3%

46

Sirpur Paper Mills Ltd.

Paper

245.01

249.17

0.61

0.63

0.31

0.33

42.45

74.65

17%

30%

47

Sun Paper Mill Ltd.

Paper

71.74

80.47

0.61

0.63

1.25

1.45

10.08

5.3

14%

7%

48

Anand Tissues Ltd.

Paper products

16.98

16.9

0.34

0.29

0.42

0.36

4.17

4.37

25%

26%

49

Mohit Paper Mills Ltd.

Paper

40.77

47.8

0.54

0.52

1.14

1.29

3.35

4.7

8%

10%

50

Feroke Boards Ltd.

Plywood

17.06

18.55

0.84

0.72

4.23

3.97

1.19

1.28

7%

7%

51

Amaravathi Sri Venkatesa Paper Mills Ltd.

Writing, printing paper

83.89

86.25

0.70

0.78

4.18

4.78

7.01

5.05

8%

6%

52

Cochin Kagaz Ltd.

Kraft paper & paperboard

27.1

28.22

0.77

0.79

1.17

1.24

2.87

3.26

11%

12%

53

Polymer Papers Ltd.

Other paper, paperboard products

17.6

17.33

0.84

0.86

2.67

2.71

0.63

-0.24

4%

-1%

54

Agio Paper & Inds. Ltd.

Paper

34.41

33.82

0.44

0.49

1.55

1.66

5.68

7.03

17%

21%

55

B & A Multiwall Packaging Ltd.

Paper products

15.52

16.82

0.85

0.85

5.39

5.86

1.48

2.17

10%

13%

56

Malu Paper Mills Ltd.

Newsprint

56.04

57.35

0.77

0.85

0.69

0.77

7.82

7.57

14%

13%

57

Ellora Paper Mills Ltd.

Writing, printing paper

36.06

37.4

0.81

0.83

2.45

2.60

3.76

2.77

10%

7%

58

Metal Box India Ltd.

Paper products

31.62

24.15

0.23

0.41

0.85

1.14

28.15

-0.74

89%

-3%

59

M P S Ltd.

Printed books, brochures, etc.

153.42

155.43

0.37

0.41

1.62

1.82

40.34

27.15

26%

17%

60

Sudhir Papers Ltd.

Paper

32.33

31.63

0.88

0.95

10.65

11.24

1.26

0.84

4%

3%

61

Vishal Papertech (India) Ltd.

Other paper, paperboard products

16.85

14.03

0.77

0.80

3.24

2.80

1.68

1.63

10%

12%

62

Surya Chandra Paper Mills Ltd.

Writing, printing paper

26.41

26.75

0.92

0.86

1.34

1.28

0.76

0.13

3%

0% -17%

63

Speciality Coatings & Laminations Ltd.

Paper & paperboard, coated with china clay/

32.45

12.98

0.89

0.83

2.73

1.03

-1.17

-2.17

-4%

64

Bharat Box Factory Ltd.

Cartons, boxes, cases of corrugated paper

227.08

269.95

0.85

0.87

2.27

2.75

25.09

28.94

11%

11%

65

Khatema Fibres Ltd.

Kraft paper & paperboard

108.37

109.43

0.67

0.81

1.23

1.50

21.23

13.67

20%

12%

66

yash Papers Ltd.

Kraft paper & paperboard

30.91

52.57

0.49

0.64

0.16

0.37

3.9

7.94

13%

15%

67

Maruti Papers Ltd.

Kraft paper & paperboard

12.34

15.42

0.53

0.62

1.50

2.20

1.15

1.26

9%

8%

68

Jolly Board Ltd.

Particle boards

40.74

58.68

0.52

0.44

0.51

0.64

6.97

15.46

17%

26%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

124

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

80.79

156.49

112.68

NA

32.07

NA

0.36

NA

8.72

98.1

69.52

74.23

36.68

71.83

49.36

47.09

0.78

0.78

6.31

8.02

99.0

61.03

68.55

74.91

81.38

30.23

38.55

1.96

4.36

8.75

3.43

99.6

46.96

44.02

79.39

51.96

93.37

90.47

0.38

0.93

1.93

3.33

100.4

47.71

53.78

89.55

90.63

23.49

31.99

0.9

0.97

9.58

8.7

101.3

NA

80.26

29.01

32.01

NA

33.74

NA

2.4

NA

23.35

106.4

56.87

75.96

39.01

85.22

40.46

56.02

1.06

1.36

3.54

7.62

106.4

51.89

64.74

73.09

94.94

82.86

161.96

0.9

1.16

2.36

1.73

107.2

31.55

39.3

115.38

93.45

44.57

45.06

2.91

3.68

3.16

2.76

107.3

64.73

59.93

75.96

45.43

90.76

44.81

1.98

1.37

27.48

22.19

108.8 110.1

52.32

51.45

31.97

42.24

63.83

61.12

1.78

0.96

21.58

16.82

45.05

50.27

37.31

55.8

41.58

51.75

5.64

6.93

3.86

4.63

111.7

5.82

7.56

83.91

100.49

15.19

31.91

1.45

2.43

2.83

5.3

114.1

73.4

75.81

38.27

90.05

21.73

21.69

9.75

9.21

6.85

3.89

114.5

46.1

60.71

19.62

43.13

52.79

48.53

0

6.07

17.13

20.55

114.7

29.75

37.99

58.8

27.41

69.13

70.38

11.31

9.57

1.78

3.34

115.4

52.72

51.51

30.67

20.07

127.21

127.48

6.29

7.11

2.68

3.81

116.7

47.58

18.31

117.07

28.82

66.83

45.22

19.27

11.44

24.42

7.56

117.5

35.6

39.86

94.53

81.59

32.53

32.84

1.59

1.02

9.34

9.02

117.7

74.83

101.64

120.45

61.76

30.2

63.79

32.03

28.73

8.5

9.03

120.1

39.85

45.61

66.63

77.19

46.48

57.58

8.97

8.45

4.31

4.9

121.8

11.1

13.39

46.23

44.82

37.31

39.94

1

2.37

5.66

7.72

123.8

67.83

65.66

126.65

139.67

28.58

38.81

157.56

130.58

6.08

4.18

124.4

28.04

27.66

111.92

116.83

73.39

62.65

6.75

6.66

1.08

1.25

124.5

13.54

16.27

35.3

51.04

71.05

71.2

1.1

0.99

11.95

8.51

124.5

88.09

113.9

67.17

199.84

223.81

287.93

1.48

1.74

7.08

6.49

125.4

24.75

22.2

44.6

57.48

96.58

109.95

5.03

4.47

2.86

3.13

126.6

37.22

40.15

29.09

38.5

29.02

38.7

67.28

66.61

10.03

10.81

127.4

31.84

32.79

71.43

88.64

36.73

36.85

2.54

3.79

8.23

11.83

128.7

89.49

98.29

89.35

88.82

85.31

122.75

2.51

2.63

9.11

5.68

130.8

74.03

76.81

81.47

79.23

29.3

30.65

14.41

16.36

13.23

13.89

131.0

19.69

25.22

35.36

42.41

55.3

57.76

4.23

6.23

20.68

23.92

131.1

89.09

76.63

68.64

44.27

72.48

97.78

9.16

9.25

10.25

13.9

134.0

44.1

48.42

24.48

66.72

77.53

98.09

0.91

1.43

1.16

7.54

135.0

61.01

57.77

30.09

49.16

60.38

64.92

6.43

9.23

5.93

8.76

135.0

0.92

3.03

1260.65

444.89

583.52

214.17

3.79

0.72

1.25

0.93

135.5

118.33

105.65

77.97

78.07

55.96

55.94

72.19

77.96

41.54

41.45

137.4

25.24

29.46

28.92

31.19

44.69

47.37

7.18

7.04

10.99

14.48

138.0

NA

101.9

153.71

133.59

NA

59.01

NA

28.36

NA

9.49

139.6

57.81

62.14

75.18

90.6

59.11

58.18

2.34

3.99

8.45

7.77

142.5

31.32

40.57

30.44

69.74

29.25

36.25

1.49

1.62

29.99

28.52

142.5

53.4

57.83

108.72

89.18

41.06

40.14

19.15

17.9

11.34

16.31

142.6

52.88

60.27

22.14

29.01

190.73

160.18

8.21

9.5

7.61

9.37

146.0 148.0

28.04

23

89.37

88.61

126.26

114.21

0.82

1.12

8.87

11.73

71.51

54.97

145.19

114.6

174.57

115.01

0.83

1.2

18.43

33.64

149.1

19.75

15.07

357.62

837.08

169.06

117.91

5.53

1.36

7.04

10.5

150.0

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

PAPer

2008

NA

& wOOD PrODuCTs

2007

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

125


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore) 2007

2008

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

2007

2007

2008

2008

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008 11%

69

Hanuman Agro Inds. Ltd.

Paper

34.75

37

0.75

0.74

1.35

1.41

3.78

3.95

11%

70

Nath Pulp & Paper Mills Ltd.

Paper

69.63

64.78

0.95

0.89

2.10

1.83

2.96

4.91

4%

8%

71

Mangalam Timber Products Ltd.

Boards of woods

71.56

61.78

0.56

0.88

3.81

5.11

8.71

10.26

12%

17%

72

Supreme Paper Mills Ltd.

Paper

29.45

34.3

0.81

0.78

2.78

3.09

2.44

2.19

8%

6% 15%

73

Archies Ltd.

Greeting card

105.41

118.89

0.51

0.62

1.54

2.10

15.4

17.31

15%

74

Magna Publishing Co. Ltd.

Printed books, brochures, etc.

32.82

32.44

0.37

0.41

1.74

1.89

1.44

1.87

4%

6%

75

Raman Boards Ltd.

Other paper, paperboard products

80.41

27.51

0.64

0.56

1.30

0.39

6.61

6.83

8%

25%

76

Purity Flex Pack Ltd.

Paper tarred, plastic coated, etc.

16.93

16.52

0.88

0.94

3.80

3.94

1.11

1.35

7%

8%

77

Well Pack Papers & Containers Ltd.

Kraft paper & paperboard

16.94

16.47

0.86

0.83

1.95

1.83

1.44

1.55

9%

9%

78

Ausom Enterprise Ltd.

Cartons, boxes, cases, etc.

25.2

28.21

0.81

0.83

0.40

0.46

0.83

0.29

3%

1%

79

Shree Bhawani Paper Mills Ltd.

Writing, printing paper

56.43

36.41

0.44

0.70

0.36

0.38

7.72

-0.6

14%

-2%

80

Three Star Paper Mills Ltd.

Paper

12.17

13.41

0.88

0.99

1.91

2.37

0.68

1.02

6%

8%

81

Uniply Industries Ltd.

Plywood

111.04

103.25

0.89

0.88

2.37

2.16

9.85

4.03

9%

4%

82

Pudumjee Pulp & Paper Mills Ltd.

Paper

190.62

222.6

0.71

0.78

1.06

1.38

20.6

23.78

11%

11%

83

Rollatainers Ltd.

Cartons, boxes, cases, etc.

38.48

38.68

1.02

1.18

1.51

1.76

-9.57

-1.87

-25%

-5%

84

Speciality Papers Ltd.

Kraft paper & paperboard

45.09

72.8

0.88

0.89

1.36

2.24

6.92

6.43

15%

9%

85

Hunsur Plywood Works Pvt. Ltd.

Plywood

14.99

26.12

0.76

0.89

6.23

12.81

0.04

2.34

0%

9%

86

Ecoboard Industries Ltd.

Particle boards

44.25

61.29

0.63

0.45

0.51

0.50

10.11

16.07

23%

26%

87

Global Boards Ltd.

Composite paper & paperboard (packaging

5.3

13.74

2.43

1.70

0.14

0.26

122.28

-15.7

2307%

-114%

88

Victory Paper & Boards (India) Ltd.

Paper

13.57

11.59

0.71

0.93

0.92

1.03

0.48

-3.67

4%

-32%

89

Ganga Papers India Ltd.

Kraft paper & paperboard

6.73

23.36

1.01

0.90

0.40

1.24

1.48

2.33

22%

10%

90

Western India Plywoods Ltd.

Plywood

63.43

75.38

0.65

0.60

0.91

1.00

15.29

15.08

24%

20%

91

Kitply Industries Ltd.

Plywood

70.1

33.77

0.79

0.93

0.09

0.05

8.39

-3.18

12%

-9%

150.25

280.91

0.64

0.64

2.42

18.24

9.36

73.23

6%

26%

PlAstics AnD PolYmers 1

Bright Brothers Ltd.

Plastic packaging goods

2

Pragati Chemicals Ltd.

Amino/phenolic resins & polyurethanes

15.79

15.43

0.86

0.76

17.92

16.31

2.52

1.42

16%

9%

3

Orient Press Ltd.

Plastic packaging goods

105.68

142.92

0.76

0.73

2.70

3.99

11.57

38.53

11%

27%

4

Axiom Impex Intl. Ltd.

Plastic Products

90.08

129.66

0.91

0.83

4.81

2.76

4.68

18.63

5%

14%

5

Ashok Polymers Ltd.

Sacks & bags of polyethylene

41.58

58.39

0.84

0.86

3.73

5.30

2.93

3.12

7%

5%

6

Mahindra Composites Ltd.

Other articles of plastics, nec

26.05

32.12

0.76

0.73

2.57

3.14

1.47

3.15

6%

10%

7

Shivalik Agro Poly Products Ltd.

Biaxially oriented polypropylene (BOPP) film

41.34

53.09

0.70

0.74

3.68

4.50

4.31

5.85

10%

11%

8

International Conveyors Ltd.

PVC belt conveyor

49.13

65.01

0.59

0.68

1.07

1.94

10.5

12.85

21%

20%

9

Hitech Plast Ltd.

Reservoirs, tanks, etc.

93.48

106.86

0.69

0.70

4.94

4.30

13.24

14.88

14%

14%

10

Gujarat Polybutenes Pvt. Ltd.

Polyisobutylene

53.76

57.37

0.96

0.84

30.40

32.97

2.56

2.81

5%

5%

11

Pearl Engineering Polymers Ltd.

Polyethylene terephthalate (PET)

152.92

166.36

0.94

0.90

3.60

4.25

2.74

4.92

2%

3%

12

Polylink Polymers (India) Ltd.

Linear low density polyethylene (LLDPE)

53.95

63.69

0.88

0.85

2.83

3.53

3.06

3.99

6%

6%

13

Integrated Thermoplastics Ltd.

Tubes, pipes & hoses, flexible

38.67

58.11

1.01

0.88

11.58

16.11

1.61

1.83

4%

3%

14

Resins & Plastics Ltd.

Amino/phenolic resins & polyurethanes

47.64

53.25

0.82

0.85

7.59

9.38

3.39

4.35

7%

8%

15

Gopala Polyplast Ltd.

Sacks & bags of polyethylene

130.82

131.93

0.87

0.88

3.90

4.12

8.45

2.84

6%

2%

16

Milton Plastics Ltd.

Carboys, bottles & flasks

48.83

44

0.78

0.69

4.21

3.62

-1.28

10.31

-3%

23%

17

Ganpati Plastfab Ltd.

Sacks & bags of polyethylene

28.49

31.75

0.85

0.85

6.22

5.34

0.93

1.33

3%

4%

18

Tipco Industries Ltd.

Amino/phenolic resins & polyurethanes

44.78

45.51

0.87

0.81

3.03

3.07

-2.57

-3.08

-6%

-7%

19

Gurukrupa Polyplast Ltd.

Sheets of polyethylene

8.81

11.68

0.94

0.89

6.67

9.76

0.29

0.27

3%

2%

20

Synthetic Moulders Ltd.

Plastic Products

2.76

25.05

0.57

0.58

0.31

2.41

-0.29

7.75

-11%

31%

21

T P L Plastech Ltd.

Reservoirs, tanks, etc.

44.94

60.44

0.82

0.79

5.42

3.93

5.7

8.15

13%

13%

22

Pearl Polymers Ltd.

Carboys, bottles & flasks

127.94

135.4

0.68

0.65

1.35

1.32

14.05

15.21

11%

11%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

126

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days) 2007

2008

Creditors Days Available (Days) 2007

2008

Raw Material Holding Period (Days) 2007

2008

WIP Holding Period (Days) 2007

2008

Finished Goods Holding Period (Days) 2007

2008

Composite Score

NA

23.6

47.41

36.01

NA

64.05

NA

6.13

NA

30.28

14.8

16.45

69.15

68.14

47.81

70.61

1.82

1.93

10.1

13.74

150.6 152.3

55.65

80.45

63.96

83.84

81.76

93.5

6.67

6.95

29.59

54.82

152.8

20.59

17.81

65.61

57.02

91.15

71.33

2.46

2.59

24.9

23.54

152.9 154.4

73.78

63.32

60.4

60.66

15.66

14.28

146.85

141.58

125.4

237.28

300.69

56.67

61.11

34.55

81.11

26.87

22.32

155.5

85.71

305.77

57.21

196.83

38.12

103.52

11.59

60.26

4.41

11.8

155.8

53.04

59.59

107.89

123.51

75.11

93.41

17.42

22.77

1.56

5.97

155.8

NA

61.1

73

74.29

NA

138.93

NA

27.4

NA

7.3

157.3

84.01

92.96

73.1

76.89

84.22

74.22

11.54

11.81

10.04

9.25

158.8

28.42

56.58

38.9

91.8

106.45

140.06

1.33

4.37

0.63

6.78

161.3

NA

53.91

22.73

17.63

NA

103.45

NA

31.26

NA

22.3

163.2

71.88

98.43

100.63

61.86

105.89

93.28

67.54

56.79

13.65

19.07

163.7

37.42

42.5

51.82

56.6

134.02

123.08

12.03

6.4

25.32

20.74

165.3

70.4

67.9

180.01

96.35

53.04

62.83

15.81

20.5

10.14

10.7

167.2

17.85

14.41

54.26

83.19

335.9

483.96

25.26

69.83

5.08

2.19

170.0 173.0

94.13

50.15

152.27

79.38

120.12

73.45

65.8

46.86

43.99

29.48

69.63

71.33

163.67

127.24

125.76

113.22

51.36

44.59

114.36

98.48

173.4

243.86

91.25

114.32

67.89

203.13

169.46

7.55

3.76

18.19

15.93

173.8

111.65

100.53

564.69

373.78

145.5

85.53

132.99

146.08

1.88

6.43

174.9

40.62

39.73

134.12

51.28

271.4

122.71

10.76

12.53

33.09

19.98

179.3

46.05

48.22

115.02

80.59

129.14

124.18

106.23

85.7

126.61

115.51

185.0

42.43

88.26

173.12

428.43

54.56

140.82

5.54

25.56

14.8

16.17

199.4

83.35

24.93

54.42

36.79

32.55

13.47

2.87

1.19

9

3.62

54.1

70.3

76.07

34.66

17.1

13.78

16.61

0.28

0.15

24.19

27.82

77.4

59.87

48

95.34

105.12

26.89

20.13

0.9

2.45

1.81

1.8

79.5

NA

7.58

46.79

57.44

NA

4.83

NA

5.58

NA

1.64

85.1

49.72

39.44

47.64

28.31

14.98

15.33

6.79

6.75

1.87

0.94

86.9

120.74

112.32

67.97

68.34

22.3

24.07

7.71

8.73

6.09

4.56

88.2

55.06

62.06

48.18

52.67

31.16

32.81

0.62

0.46

8.19

8.78

89.7

78.12

79.63

68.88

49.66

21.33

14.36

23.81

18.55

9.02

8.6

90.6

41.74

42.76

21.91

20.49

25.06

24.91

10.33

13.11

4.7

3.69

91.7

7.93

15.91

14.02

16.6

9.88

6.61

1.75

1.38

13.77

13.14

95.2

12.78

9.75

9.85

9.38

1.91

2.49

8.35

8.14

96.7

52.37

15.57

19.62

20.3

24.4

0.27

0.23

9.67

9.54

96.9

NA

60.79

124.62

57.25

NA

4.17

NA

1.69

NA

13.85

99.0

61.02

64.15

30.71

30.36

19.54

19.53

1.52

2

15.84

15.85

99.8

60.68

55.55

12.62

10.25

24.15

25.1

7.27

8.2

3.13

3.55

102.6

228.07

220.53

297.97

363.3

28.26

38.58

4.08

5.26

10.25

9.43

103.8

25.04

29.64

19.52

22.18

11.95

12.64

7.32

7.65

6.67

6.94

103.8

NA

64.94

75.03

96.62

NA

20.1

NA

6.6

NA

2.71

104.1

68.62

61.34

38.48

16.57

6.38

4.49

9.9

8.4

15.43

13.29

105.7

78.02

83.64

97.24

110.26

127.03

43.81

51.94

17.36

11.12

0.57

106.3

80.18

65.79

64.08

61.72

24.58

33.49

5.82

8.71

6.06

6.04

106.8

72.23

73.66

76.14

66.33

28.39

29.59

0.92

1.4

15.21

14.98

108.2

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

PlAstics

13.57

64.96

& POlyMErs

23.04

PAPer

34.77

& wOOD PrODuCTs

43.02 110.66

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

127


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

23

K G Petrochem Ltd.

Sacks & bags of polyethylene

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

30.62

49.62

0.80

0.69

0.81

1.23

5.06

8.42

17%

17%

24

Sunrise Containers Ltd.

Plastic bottles

74.42

99.55

0.73

0.70

1.25

1.64

12.62

15.06

17%

15%

25

Ecoplast Ltd.

Other sheets, films & foils of plastics

34.85

37.31

0.79

0.80

2.72

2.36

2.81

3.41

8%

9%

26

Virgo Polymers (India) Ltd.

Sacks & bags of polyethylene

43.24

51.87

0.78

0.83

3.22

4.41

2.09

1.45

5%

3%

27

Texplast Industries Ltd.

Sacks & bags

18.66

20.97

0.80

0.71

4.98

4.89

1.39

2.12

7%

10%

28

Polyplex Corporation Ltd.

Polyester film

199.94

209.75

0.73

0.68

1.31

1.07

22.17

32.65

11%

16%

29

Sah Polymers Ltd.

Sacks & bags of polyethylene

8.94

17.98

0.84

0.84

1.32

2.42

1.05

2.35

12%

13%

30

Mewar Polytex Ltd.

Boxes, cases & crates

20.63

23.36

0.80

0.80

4.30

4.18

1.32

2.03

6%

9%

31

Emmbi Polyarns Ltd.

Sacks & bags

22.88

29.54

0.84

0.80

1.54

1.75

2.62

3.54

11%

12%

32

Shri Jagdamba Polymers Ltd.

Sacks & bags of polyethylene

8.83

12.56

0.54

0.66

0.53

1.01

1.79

2.1

20%

17% 9%

33

Sudhakar Polymers Ltd.

PVC pipes

44.89

51.32

0.88

0.82

3.53

3.23

4.16

4.69

9%

34

Prasol Chemicals Ltd.

Polyester or contract resins

43.68

63.95

0.81

0.84

2.05

2.49

5.19

5.65

12%

9%

35

Beardsell Ltd.

Expandable polystyrene

51.98

60.27

0.89

0.85

10.60

12.18

4.59

4.6

9%

8%

36

Jhaveri Flexo India Ltd.

Other sheets, films & foils of plastics

104.38

131.16

0.83

0.79

2.70

1.70

9.14

21.94

9%

17%

37

Espiem Plasticss Ltd.

Plastic Products

32.88

39.27

0.66

0.60

1.49

1.61

3.66

4.42

11%

11%

38

Pankaj Polymers Ltd.

Sacks & bags of polyethylene

32.12

30.47

0.93

0.91

4.19

4.10

1.82

1.78

6%

6%

39

Polynova Industries Ltd.

Synthetic leather cloth

65.49

74.48

0.84

0.83

7.46

8.35

2.62

4.6

4%

6%

40

Hydro S & S Inds. Ltd.

Other articles of plastics, nec

100.76

116.9

0.87

0.84

4.70

4.21

7.84

12.57

8%

11%

41

Radha Madhav Corpn. Ltd.

Plastic packaging goods

78.6

141.66

0.90

0.85

1.06

0.86

12.35

30.16

16%

21%

42

Peacock Industries Ltd.

Other articles of plastics

10.54

13.11

0.96

0.93

0.97

1.32

1.3

0.56

12%

4%

43

Classic Stripes Pvt. Ltd.

Self-adhesive plates, sheets, films, etc.

163.63

185.08

0.52

0.42

1.03

1.31

57.64

79.79

35%

43%

44

Deccan Polypacks Ltd.

Plastic packaging goods

25.67

28.32

0.90

0.90

7.90

9.45

1.71

2.19

7%

8%

45

Bhansali Engineering Polymers Ltd.

Acrylonitrile butadiene styrene

240.84

264.53

0.80

0.83

0.89

1.08

37.52

32.54

16%

12%

46

Premier Polyfilm Ltd.

Other sheets, films & foils of plastics

46.25

61.56

0.78

0.89

2.40

4.03

2.59

35.83

6%

58%

47

Sharp Industries Ltd.

Biaxially oriented polypropylene (BOPP) film

49.67

83.12

0.96

0.74

2.09

3.20

-13.78

20.54

-28%

25%

48

Shaily Engineering Plastics Ltd.

Plastic Products

49.91

60.07

0.71

0.73

1.72

1.40

8.3

8

17%

13%

49

R T Packaging Ltd.

Other plastic packaging goods

20.75

18.08

1.07

1.08

1.03

0.98

4.5

6.03

22%

33%

50

Fenoplast Ltd.

Synthetic leather cloth

100.76

97.57

0.81

0.85

3.79

2.66

8.48

8.77

8%

9%

51

M T Z Polyfilms Ltd.

Polyester film

94.99

99.98

0.90

0.83

0.54

0.55

-0.76

6.73

-1%

7%

52

Vinyoflex Ltd.

Sheets of polyethylene

17.6

21.91

0.90

1.00

4.46

6.51

1.16

1.13

7%

5%

53

Marvel Industries Ltd.

Other plastic packaging goods

52.41

49.75

1.02

0.81

6.65

6.57

-1.77

-3.62

-3%

-7%

54

Polyspin Ltd.

Sacks & bags of polyethylene

30.32

28.71

0.82

0.76

8.52

8.95

2.02

1.69

7%

6%

55

Hindustan Adhesives Ltd.

Cellulose adhesive tapes

28.82

34.77

0.69

0.67

1.21

1.73

3.74

6.84

13%

20%

56

Neo Corp Intl. Ltd.

Sacks & bags of polyethylene

61.85

108.4

0.86

0.90

3.91

4.70

5.49

15.29

9%

14%

57

Polyspin Exports Ltd.

HDPE woven sacks

34.92

35.66

0.69

0.72

3.72

4.04

2.2

2.43

6%

7%

58

Kisan Mouldings Ltd.

Tubes, pipes & hoses of poly vinyl chloride

104.81

124.48

0.72

0.88

2.54

2.83

11.58

14.21

11%

11%

59

Golden Laminates Ltd.

Sheets, films, etc. of plastic, not reinforced

40.36

46.08

0.76

0.74

2.73

3.15

4.31

7.23

11%

16%

60

Jumbo Bag Ltd.

Sacks & bags

48.78

56.81

0.76

0.74

1.48

1.67

4.85

6.12

10%

11%

61

Alfa Ica (India) Ltd.

Sheets, films, etc. of plastic, not reinforced

38.85

43.82

0.83

0.81

3.42

3.85

2.86

3.15

7%

7%

62

Deco-Mica Ltd.

Sheets, films, etc. of plastic, not reinforced

14.31

16.46

0.88

0.95

11.73

9.06

0.62

0.95

4%

6% 11%

63

Xpro India Ltd.

Biaxially oriented polypropylene (BOPP) film

120.26

133.5

0.80

0.79

1.07

1.09

19.27

15.22

16%

64

Arvind International Ltd.

Sheets, films, etc. of plastic, not reinforced

14.11

24.28

0.95

0.91

2.18

3.45

2.13

2.24

15%

9%

65

Tulsi Extrusions Ltd.

PVC pipes

62.93

66.1

0.89

0.97

10.70

2.76

8.76

9.16

14%

14%

66

National Plastic Inds. Ltd.

Plastic Products

34.48

33.07

0.70

0.80

1.91

2.15

2.11

2.47

6%

7%

67

Gujarat Craft Inds. Ltd.

Sacks & bags of polyethylene

23.15

22.93

0.78

0.97

5.82

3.35

1.01

1.57

4%

7%

68

Uniproducts (India) Ltd.

Floor coverings of plastics

107.92

120.8

0.73

0.74

1.06

0.98

12.73

15.03

12%

12%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

128

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

72.52

60.75

22.13

26.25

30.54

23.86

17.65

22.43

7.34

7.79

109.2

54.9

42.04

55.49

19.75

29.48

28.34

1.64

2.09

24.34

23.4

110.9

66.18

65.08

31.04

50.55

45.72

52.69

2.96

1.8

8.25

7.59

113.9

29.57

31.21

71.2

89.91

14.42

12.44

23.76

15.39

6.55

2.58

113.9

72.02

77.79

19.41

19.7

57.91

68.32

14.97

5.34

114.1

41.9

22.77

24.29

29.86

38.26

11.65

12.32

4.94

4.34

114.8

39.62

34.82

21.34

12.27

22.71

15.52

35.56

34.44

6.14

5.06

114.8 114.9

57.43

45.82

7.29

5.51

18.86

34.94

6.37

4.92

14.32

13.26

43.05

56.53

20.88

19.34

17.43

17.27

48.83

57.96

2.1

6.76

115.7

44.47

38.37

28.62

21.26

67.38

36.14

27

19.16

1.15

3.65

116.2

58.11

43.75

18.19

20.46

21.27

21.13

0

4.44

28.59

28

116.5

54.85

54.88

73.92

63.2

26.67

33.87

8.2

6.91

6.44

5.03

117.3

83.46

76.18

82.17

84.64

9.22

22.93

19.43

24.36

5.6

6.81

117.3

55.83

64.34

29.66

94.34

53.71

53.81

1.79

2.69

2.39

4.57

117.6

35.63

29.34

56.33

49.61

19.51

16.89

10.69

13.06

9.37

10.61

118.0

64.55

58.67

9.09

10.31

20.41

24.61

16.29

25.8

4.95

5.15

118.3

66.98

82.17

81.48

86.01

42.9

38.88

6.32

5.48

9.72

9.48

118.5

65.83

66.02

34.58

48.15

35.11

48.24

2.16

3.33

12.29

11.59

120.0

75.96

85.57

31.52

21.65

35.9

26.76

43.87

88.85

5.78

4.28

120.1

110.93

87.96

1093.83

916.19

12.11

14.48

0.91

1.08

10.13

10.66

120.4

NA

81.75

39.7

42.97

NA

44.75

NA

13.13

NA

12.38

121.4

73.52

77.47

72.9

82.55

23.97

32.11

39.48

52.85

0.42

1.2

122.8

190.46

194.64

176.74

163.39

40.46

32.3

33.04

28.45

4.22

1.66

124.5

28.81

31.55

82.65

73.48

27.37

24.11

11.4

8.76

12.54

10.48

124.7

267.01

165.64

371.63

109.87

140.31

74.88

20.74

8.78

5.63

8.47

125.9 126.3

101.16

85.82

57.67

57.67

42.46

40.82

11.75

11.39

7.71

10.73

54.07

41.97

132.16

164.04

17.23

27.26

6.74

6.93

2.97

3.29

127.3

95.97

104.82

74.91

93.77

24.61

32.8

7.18

5.96

15.28

15.71

128.9

23.3

25.08

121.75

111.5

26.04

29.46

2.93

4.92

2.14

1.7

130.0

113.19

104.62

75.95

82.12

35.47

32.09

9.24

7.85

9.73

13.27

130.3

10.07

15.27

55.89

92.98

12.67

18.99

0.94

1.74

21.85

21.01

130.5

1.45

0.96

26.84

18.75

29.87

33.43

3.6

4.77

26.11

31.32

130.7

76.24

62.93

61.99

52.79

45.03

40.91

23.47

19.38

12.95

10.61

130.9

121.41

98.55

93.42

67.31

28.06

14.07

44.42

28.32

63.39

48.58

132.3 132.6

38.76

41.57

24.37

29.67

25.99

36.17

34.09

32.29

8.91

5.55

101.72

95.41

58.11

67.68

16.19

15.48

18.87

18.97

29.75

34.3

132.9

42.36

34.89

39.57

48.21

75.63

83.3

1.25

1.07

15.27

15.23

133.3

57.22

61.06

42.18

47.65

27.69

25.45

51.84

43.66

9.87

10.45

134.8

30.42

41.36

41.89

23.65

172.59

144.3

0.59

0.69

12.79

11.69

135.3

122.33

135.01

95.4

93.36

60.25

60.57

1.9

0.86

23.33

24.8

136.7

68.96

69.25

86.34

82.61

46.74

40.43

6.15

9.26

9.6

9.55

137.2

176.29

94.48

91.37

66.81

65.2

54.94

9.81

16.15

8

7.32

137.6

NA

120.82

43.09

14.38

NA

35.14

NA

24.49

NA

35.26

141.7

93.43

91.67

46.67

64.92

31.68

20.45

20.93

20.58

35.6

51.14

142.4

55.06

56.26

15.74

47.99

8.52

18.33

23.09

43.87

10.97

10.59

142.8

50.55

48.77

64.55

64.6

44.38

53.09

4.28

7.41

12.42

12.25

145.4

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

PlAstics

68.97

& POlyMErs

78.48 44.43

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

129


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

67.03

112.56

1.03

0.83

4.31

5.98

4.78

8.4

7%

7%

0.75

0.71

8.60

5.62

10.09

17.08

6%

9%

0.79

0.87

2.89

3.20

13.18

7.08

10%

6%

0.51

1.86

1.38

3.36

6.73

17%

22%

69

Sturdy Industries Ltd.

Tubes, pipes & hoses of poly vinyl chloride

70

Bajaj Steel Inds. Ltd.

Sacks & bags

175.79

188.19

71

Caprihans India Ltd.

Sheets, films, etc. of plastic, not reinforced

126.92

124.26

72

Acrysil Ltd.

Tableware, kitchenware, other household

20.08

30.53

0.57

73

Rishi Packers Ltd.

Sacks & bags

29.42

27.38

0.75

0.82

1.47

1.67

3.8

2.06

13%

8%

74

Samsonite South Asia Pvt. Ltd.

Moulded luggage

247.77

291.76

0.73

0.56

3.20

3.11

48.28

57.39

19%

20%

75

Safari Industries (India) Ltd.

Moulded luggage

51.26

56.63

0.67

0.76

8.55

11.97

3.17

4.65

6%

8%

76

Innocorp Ltd.

Plastic Products

27.8

18.2

0.78

0.77

2.59

1.47

2.1

1.53

8%

8%

77

Marvel Vinyls Ltd.

Sheets of vinyl chloride

63.15

63.31

0.89

0.91

4.47

4.67

1.83

2.55

3%

4%

78

Balmer Lawrie-Van Leer Ltd.

Reservoirs, tanks, etc.

102.74

112.32

0.78

0.76

2.12

1.53

11.45

7.86

11%

7% 32%

79

Kemrock Industries & Exports Ltd.

Other articles of plastics

136.78

219.72

0.61

0.79

0.57

0.73

42.66

70.71

31%

80

Glory Polyfilms Ltd.

Plastic film

38.14

60.67

0.87

0.82

1.40

0.95

6.9

8.5

18%

14%

81

Tainwala Chemicals & Plastics (India) Ltd.

Sheets, films, etc. of plastic, not reinforced

14.35

13.36

0.74

0.78

1.52

1.58

2.64

6.47

18%

48% 19%

82

National Plastic Technologies Ltd.

Plastic Products

26.52

37.86

0.72

0.76

0.96

1.34

4.86

7.05

18%

83

Dalmia Laminators Ltd.

Sacks & bags of polyethylene

26.19

28.78

0.93

0.98

5.13

2.08

1.07

0.37

4%

1%

84

Karur K C P Packkagings Ltd.

Sacks & bags of polyethylene

187.21

198.52

0.67

0.55

0.96

0.79

42.59

47.8

23%

24%

85

Tokyo Plast International Ltd.

Other articles of plastics

17.85

23.53

0.64

0.74

1.25

1.73

2.14

3.21

12%

14%

86

Morgan Industries Ltd.

Sheets, films, etc. of plastic, not reinforced

26.13

45.56

0.79

0.77

1.61

1.60

3.02

4.37

12%

10%

87

J M G Corporation Ltd.

Cellulose adhesive tapes

3.64

30.99

0.56

0.90

0.48

7.16

1.44

1.21

40%

4%

88

Shree Rama Multi-Tech Ltd.

Other plastic packaging goods

59.4

72.56

0.62

0.56

0.14

0.15

-50.98

-63.5

-86%

-88%

89

Fancy Fittings Ltd.

Plastic Products

36.11

34.83

0.67

0.72

1.35

1.27

8.55

5.17

24%

15%

90

Sundek India Ltd.

Sheets, films, etc. of plastic, not reinforced

35.43

35.74

0.97

0.85

6.74

6.12

2.87

2.2

8%

6% 5%

91

Royal Cushion Vinyl Products Ltd.

Floor coverings of plastics

61.43

69.25

1.03

0.80

0.71

0.66

-8.37

3.54

-14%

92

Smitabh Intercon Ltd.

HDPE bags

18.93

19.96

0.83

0.94

4.20

5.78

1

0.84

5%

4%

93

Bloom Dekor Ltd.

Sheets, films, etc. of plastic, not reinforced

30

30.8

0.85

0.94

2.33

1.93

2.21

2.38

7%

8% 6%

94

Dujodwala Paper Chemicals Ltd.

Amino/phenolic resins & polyurethanes

64.82

81.85

1.43

0.86

6.22

2.86

3.98

4.65

6%

95

Venlon Enterprises Ltd.

Polyester film

47.25

60.26

0.90

1.07

0.35

0.59

2.05

0.89

4%

1%

96

Biopac India Corpn. Ltd.

Tableware, kitchenware, other household

19.43

20.08

0.64

0.82

0.42

0.65

4.63

7.05

24%

35%

textiles 1

Uniroyal Industries Ltd.

Textile labels, badges, etc.

9.68

26.26

0.54

0.80

0.35

1.48

1.18

2.85

12%

11%

2

Zenith Fibres Ltd.

Polypropylene fibre

34.55

33.91

0.74

0.73

3.49

3.45

4.96

3.66

14%

11%

3

Link Up Textiles Ltd.

Apparels (Readymade garment)

39.54

58.82

0.71

0.75

5.02

5.31

1.61

2.42

4%

4%

4

yashasvi yarns Ltd.

Partially oriented yarn (POy)

87.15

108.55

0.89

0.92

3.65

3.65

6.54

9.14

8%

8%

5

Suditi Industries Ltd.

Cloth processed

21.3

23.5

0.60

0.67

0.55

2.86

3.65

24.46

17%

104%

6

Asahi Fibres Ltd.

Cotton yarn

17.83

23

0.87

0.87

1.40

1.91

1.1

1.51

6%

7%

7

Supertex Industries Ltd.

Cotton & blended yarn, texturised

17.5

27.87

0.92

0.93

2.04

3.37

1.27

1.25

7%

4%

8

Ankita Knit Wear Ltd.

Cloth (Fabrics)

45.68

73.83

1.00

0.90

5.08

4.37

1.42

6.16

3%

8% 9%

9

Binayak Tex Processors Ltd.

Cloth processed

80.07

111.97

0.60

0.65

12.91

10.32

4.79

10.41

6%

10

Paras Petrofils Ltd.

Polyester filament yarn (PFY)

66.01

90.89

0.82

0.90

0.94

1.54

0.72

6.43

1%

7%

11

Deccan Mills Real Estate & Infrastructure Ltd.

Cotton & blended yarn

2.49

25.99

0.70

0.81

0.02

0.11

0.54

3.14

22%

12% 10%

12

Surbhi Industries Ltd.

Textured yarn of synthetic filament yarn

13.61

16.6

0.83

0.93

1.75

2.20

1.33

1.74

10%

13

V G Textiles Pvt. Ltd.

Cotton yarn

15.03

15.1

0.72

0.78

3.16

3.84

1.64

0.98

11%

6%

14

Suryalata Spinning Mills Ltd.

Cotton & blended yarn

187.99

169.73

0.84

0.90

1.49

1.91

19.14

13.13

10%

8%

15

Prakash Woollen Mills Ltd.

Blankets & travelling rugs

32.84

42.36

0.69

0.72

1.82

2.22

2.59

3.87

8%

9%

16

Usha yarns Ltd.

Cotton yarn

16.59

17.4

0.88

0.89

3.32

3.27

1.01

0.96

6%

6%

17

Sanghi Polyesters Ltd.

Polyester filament yarn (PFY)

593.76

227.24

0.83

0.89

1.25

0.56

150.29

37.77

25%

17%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

130

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

65.88

54.01

93.33

75.26

49.13

36.76

4.97

8.39

45.13

27.35

Composite Score

148.1

29.54

30.38

58.75

76.3

39.63

46.64

20.56

30.95

10.81

8.17

149.1

100.65

108.18

72.6

66.96

49.66

51.26

4.96

6.68

31.01

33.41

149.2

167.52

131.65

94.42

84.89

85.41

75.29

36.31

21.23

18.14

22.31

151.0

70.39

86.84

37.54

42.76

89.92

94.23

2.12

1.42

152.1

50.75

106.78

106.24

53.87

52.74

8.21

7.81

35.96

34.11

153.6

79.8

80.45

92

95.08

63.12

65.77

7.92

6.97

60.38

57.38

154.3

134.98

221.74

128.53

177.7

20.9

30.04

27.63

33.44

9.75

16.69

154.8

52.09

64.69

63.76

63.98

20.67

22.92

33.98

28.43

28.5

28.55

154.8

54.53

58.01

52.23

119.27

48.35

52.39

8.24

9.3

11.72

9.08

157.3

120.79

132.8

160.56

113.31

78.37

81.07

127.35

180.61

4.66

5.33

158.4

119.05

117.86

103.25

123.08

108.94

82.5

72.31

26.5

9.96

8.55

160.9

108.44

76.65

29.16

19.35

87.36

69.35

13.98

29.65

34.75

46.44

161.3

120.48

96.18

192.44

150.83

54.16

43.73

32.7

34.94

18.57

19.56

164.2

37.69

34.88

31.19

47.41

22.36

48.67

47.74

83.15

1.7

3.42

168.0

100.59

106.08

101.73

102.65

237.02

253.9

58.52

73.98

10.99

12.79

168.7

234.17

176.87

171.41

110.59

36.63

44

97.29

91.04

30.76

30.12

168.7

175.69

106.3

121.42

92.51

82.62

55.02

36.45

28.12

69.54

31.65

169.8

138.12

76.6

114.48

115.08

163.78

154.04

166.45

158.9

7.85

3.26

171.2

91.17

66.68

307.26

653.73

52.22

65.2

16.97

15.03

14.45

10.22

172.1

79.58

77.46

83.42

109.63

55.51

64.79

21.18

28.05

20.94

29.22

173.0

38.06

35.12

87.63

99.18

89.47

99.03

3.16

4.36

57.41

67.77

179.8

156.41

136.15

255.18

297.89

68.98

64.84

26.95

32.65

13.38

16.3

186.6

54.85

91.75

82.64

130.65

54.98

66.31

18.88

35.6

22.24

21.24

189.7

78.01

78.09

96.32

116.31

109.24

105.51

8.66

9.38

36.19

44.91

191.3

53.33

69.38

60.33

117.78

94.73

54.01

61.25

67.69

58.82

81.08

205.8

38.05

23.63

150.29

66.27

56.6

33.62

54.15

39.99

43.5

40.15

206.8

37.79

36.2

246.05

182.66

41.23

64.52

202.02

265.15

58.28

86.02

216.9

75.96

49.83

63.29

35.99

65.83

19.29

1.84

0.92

0.99

0.68

166.5

26.54

29.76

12.41

11.43

23.62

29.34

0.5

0.65

6.14

6.92

171.3

38.07

42.7

31.15

27.21

15.45

12.04

5.19

4.68

3.38

5.22

177.4

84.3

83.99

60.08

40.88

11.51

16.54

2.35

3.05

4.55

5.75

179.5

74.25

73.89

157.79

145.08

32.58

27.06

6.89

6.82

0.64

0.5

197.0

10.69

7.14

2.19

4.13

5.17

0.58

0.8

1.09

2.37

197.0

77.48

94.9

86.28

9.19

8.2

1.54

1.78

0.65

2.04

204.1

67.91

61.29

34.92

16.92

37.49

12.7

34.48

8.77

6.32

8.46

210.2

80.24

94.95

74.27

69.43

18.62

13.64

9.59

13.49

1.76

4.38

211.4

76.35

39.13

17.03

15.96

11.73

6.25

8.45

2.92

14.04

10.06

213.5

NA

5.39

12.78

2.6

NA

5.23

NA

3.63

NA

2.19

219.2

55.14

50.28

39.9

33.1

12.33

15.35

2.69

1.94

4.81

14.09

224.7

NA

17.16

23.22

16.96

NA

6.52

NA

8.38

NA

8.19

230.8

34.71

35.19

14.02

24.1

16.47

19.17

3.05

4.18

2.08

8.95

234.1

121.65

116.3

20.62

20.4

19.2

19.81

20.66

23.13

7.37

8.39

234.8

9.92

11.01

10.08

13.55

26.56

29.46

1.93

2.17

4.28

3.92

237.4

13.07

30.83

26.44

52.71

6.12

15.88

1.36

3.29

0.66

3.97

242.9

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

source: CMIE Prowess database

industry 2.0

textiles

7.87 73.56

PlAstics

60.16

45.13

& POlyMErs

59.04

- technology management for decision-makers | february 28, 2010

131


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

18

Company Name

Industrial Activity

Mayur Uniquoters Ltd.

Other coated / laminated textile fabrics

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

66.63

90.7

0.35

0.31

1.41

1.31

6.23

10.21

9%

11% 1200%

19

Tamarai Mills Ltd.

Cloth (Fabrics)

16.74

12.81

0.68

0.75

0.87

0.99

3.17

153.78

19%

20

Woolways (India) Ltd.

Knitted / crocheted fabrics

42.74

56.89

0.69

0.74

8.56

9.68

0.21

1.66

0%

3%

21

Arora Fashions Ltd.

Apparels - knitted / crocheted

113.67

113.93

0.78

0.72

4.69

4.71

7.81

10.79

7%

9%

22

Hisar Spinning Mills Ltd.

Cotton yarn

16.63

15.14

0.91

0.92

12.90

10.72

0.66

0.55

4%

4%

23

Suryajyoti Spinning Mills Ltd.

Cotton yarn

161.88

205.73

0.81

0.77

1.03

0.92

22.6

26.09

14%

13%

24

Winsome International Ltd.

Jute & jute products

69.3

73.01

0.76

0.77

1.93

2.09

4.17

4.97

6%

7%

25

Ambadi Enterprises Ltd.

Cloth (Fabrics)

55.03

56.76

0.55

0.59

5.51

3.90

3.44

4.51

6%

8%

26

Sanrhea Technical Textiles Ltd.

Cloth (Fabrics)

7.48

11.22

0.74

0.83

1.34

2.39

0.76

1.15

10%

10%

27

Mangalam Ventures Ltd.

Apparels - knitted / crocheted

30.41

30.34

0.54

0.59

1.50

1.71

2.97

2.92

10%

10%

28

Caledonian Jute & Inds. Ltd.

Jute & jute products

73.77

98.83

0.79

0.76

10.01

8.47

3

7.58

4%

8%

29

Jagannath Textiles Co. Ltd.

Textiles

173.49

297.54

0.90

0.82

0.77

1.22

32.27

20.59

19%

7%

30

Raghuvir Synthetics Ltd.

Cloth processed

41.35

43.92

0.69

0.71

1.01

1.24

6.22

5.65

15%

13%

31

Amit Spinning Inds. Ltd.

Cotton yarn

70.02

81.91

0.77

0.82

0.93

1.23

9.66

7.39

14%

9%

32

Sona Processors (India) Ltd.

Cloth processed

24.12

25.69

0.68

0.73

1.79

2.11

2.9

2.77

12%

11%

33

Nachmo Knitex Ltd.

Knitted / crocheted fabrics

66.46

47.66

0.84

0.79

2.64

3.25

-0.21

-24.98

0%

-52%

34

Navsari Cotton & Silk Mills Ltd.

Cotton & blended yarn

15.25

12.37

0.87

0.90

4.84

4.78

28.09

1.6

184%

13%

35

Bhilwara Spinners Ltd.

Cotton & blended yarn

95.68

86.71

0.84

0.85

2.75

2.87

6.68

7.15

7%

8%

36

Mothi Spinner Ltd.

Synthetic filament yarn other than sewing

66.43

82.59

0.79

0.84

0.93

1.27

12.38

12.49

19%

15%

11.88

13.51

0.76

0.88

14.35

22.34

0.42

0.4

4%

3%

40

46.54

0.89

0.90

5.62

3.98

2.16

2.9

5%

6%

114.67

195.63

0.90

0.89

7.33

11.86

7.43

11.49

6%

6%

37

Arjay Apparel Industries Ltd.

Apparels (Readymade garment)

38

Balaji Filaments Ltd.

Synthetic filament yarn other than sewing

39

Anjani Synthetics Ltd.

Cloth (Fabrics)

40

Everlon Synthetics Ltd.

Textured yarn of synthetic filament yarn

14.45

15.92

0.86

0.90

8.64

4.00

0.24

0.59

2%

4%

41

Shamken Spinners Ltd.

Cotton & blended yarn

53.48

28.57

0.91

1.05

0.28

0.18

-1.47

-5.94

-3%

-21%

42

Lambodhara Textiles Ltd.

Cotton yarn

26.71

32.77

0.81

0.93

2.10

2.24

2.77

3.89

10%

12%

43

Jamshri Ranjitsinghji Spg. & Wvg. Mills Co. Ltd.

Cotton & blended yarn

43.08

47.71

0.89

0.98

9.43

13.78

1.48

2.34

3%

5%

44

Pasari Spinning Mills Ltd.

Cotton yarn

18.89

18.14

0.85

0.99

6.37

6.09

1.91

-0.62

10%

-3%

45

Reliance Jute Mills (International) Ltd.

Jute & jute products

94.5

164.84

0.76

0.70

2.19

2.57

2.04

8.84

2%

5%

46

Entremonde Polyecoaters Ltd.

Coated / laminated textile fabrics

27.28

32.87

0.81

0.84

7.13

9.05

2.03

2.37

7%

7%

47

Blue Blends (India) Ltd.

Cotton & blended yarn, texturised

124.67

121

0.69

0.78

0.96

1.13

11.85

2.59

10%

2%

48

Auckland International Ltd.

Plastic coated / polyethylene jute bags

64.95

84.85

0.69

0.79

3.24

4.82

1.36

3.33

2%

4% 12%

49

Vippy Spinpro Ltd.

Cotton yarn

38.44

39.5

0.81

0.81

1.86

1.96

4.34

4.67

11%

50

Mid India Inds. Ltd.

Cotton & blended yarn

16.55

20.26

0.86

0.89

3.32

3.22

1.06

1.26

6%

6%

51

Aarti International Ltd.

Cotton yarn

276.56

283.83

0.70

0.72

0.86

0.64

91.48

51.33

33%

18%

52

Sri Kannapiran Mills Ltd.

Cotton & blended yarn

167.99

163.8

0.73

0.79

1.43

1.60

23.6

15.3

14%

9%

53

Cardwell Spinning Mills Ltd.

Blended yarn

13.13

11.62

0.61

0.72

5.63

2.43

0.77

1.15

6%

10%

54

Deepak Cosmo Ltd.

Wool & woollen textiles

30.6

39.94

0.78

1.00

3.09

5.48

2.01

2.08

7%

5% -2%

55

Northbrook Jute Co. Ltd.

Jute & jute products

85.5

106.87

0.82

0.91

2.27

2.83

1.51

-2.47

2%

56

Govardhan Spinners Ltd.

Cotton yarn

8.4

10.76

1.03

0.69

1.67

1.55

0.41

0.26

5%

2%

57

Vardhman Acrylics Ltd.

Acrylic fibre

197.69

211.15

0.77

0.73

1.04

1.13

38.57

31.56

20%

15%

58

Poddar Developers Ltd.

Apparels (Readymade garment)

37.79

46.89

0.24

0.18

3.87

2.79

25.08

31.63

66%

67%

59

Sri Venkatesa Mills Ltd.

Cotton & blended yarn

6.97

13.13

0.44

0.71

0.62

2.04

3.2

3.29

46%

25%

60

C T Cotton yarn Ltd.

Cotton yarn

24.73

18.83

0.90

0.89

0.75

0.66

-3.4

-1.64

-14%

-9% 12%

61

Gemini Dyeing & Printing Mills Ltd.

Cloth processed

25.89

24.05

0.73

0.75

1.08

0.96

3.11

2.83

12%

62

Jattashankar Industries Ltd.

Textured yarn of synthetic filament yarn

6.84

11.27

0.58

0.66

2.46

6.99

1.32

1.07

19%

9%

63

Raj Rayon Ltd.

Textured yarn of synthetic filament yarn

265.49

282.88

0.90

0.86

1.72

1.66

28.37

34.4

11%

12%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

132

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

81.68

69.43

82.31

85.83

40.43

26.64

7.98

9.81

6

4.2

35.98

84.23

31.28

36.62

29.38

30.93

6.38

5.44

9.29

22.67

252.7

79.56

63.25

62.18

44.77

63.43

45.03

13.18

7.65

7.08

5.2

253.6

50.19

55.82

77.31

63.99

13.94

12.54

18.05

23.85

1.29

1.1

254.8 256.3

246.1

17.12

21.46

31.99

27.15

30.35

1.64

1.66

3.67

5.55

49.08

28.64

32.54

39.88

45.59

5.78

5.69

4.55

6.53

257.5

NA

32.94

63.72

45.08

NA

32.28

NA

4.01

NA

7.55

257.5

53.84

53.6

43.33

42.45

40.46

42.82

2.1

2.18

21.96

23.97

267.2

72.5

65.77

29.82

17.99

75.89

50.33

5.74

9.64

4.5

6.46

267.3

38.13

17.76

35.3

17.92

30.98

24.89

23.22

19.82

9.42

0.25

268.6

14.9

14.36

130.25

87.61

31.37

21.04

9.28

6.3

7

3.33

270.7

46.61

27.75

26.74

12.7

47.61

21.11

2.43

3.23

26.92

17.09

270.8

53.32

47.83

98.46

98.43

22.14

20.7

9.33

10.4

4.51

3.48

271.3

50.79

73.97

60.18

72.26

104

47.47

4.54

3.45

6.93

5.16

272.5

73.76

77.15

37.9

29.8

60.78

50.36

5.36

5.5

20.81

19.11

273.3

124.05

116.63

58.88

73.03

51.37

47.45

2.56

2.77

5.03

9.37

273.7

38.59

56.72

250.48

246.61

22.94

14.66

14.48

10.21

2.18

4.55

276.4

17.7

29.48

25.06

28.57

20.68

23.98

10.28

9.94

8.47

8.44

281.8

50.06

48.27

48.37

47.93

23.58

20.86

10.79

8.26

8.31

13.13

283.8

48.69

56.03

44.46

37.41

66.99

69.95

0.8

1.45

19.01

9.36

285.4

62.26

96.38

23

29.96

18.39

20.92

9.23

12.34

13.34

17.38

289.7

61.97

72.99

66.94

54.59

34.38

22.65

10.34

7.66

13.83

17.28

290.6

13.39

14.7

24.35

43.65

11.62

14

4.5

6.98

8.7

7.91

290.7

5.36

6.18

29.95

20.93

7.98

8.6

2.95

2.72

7.48

4.17

292.3

67.12

68.46

53.61

18.08

14.51

14.71

6.24

9.61

24.46

31.72

292.8

19.31

16.16

93.69

110.41

2.13

1.48

8.22

7.04

2.26

2.88

296.4

32.8

52.69

20.57

37.19

39.76

48.48

4.61

7.2

3.27

6.23

304.2

21.16

13.49

77.28

28.11

51.53

38.15

15.81

7.91

20.32

10.41

307.0 307.6

51.95

53.41

37.45

44.94

49.68

54.13

9.07

10.93

4.79

5.24

66.71

61.54

93.65

82.29

12.89

10.39

11.68

8.94

13.98

11.81

307.7

25.51

14.2

44.92

41.71

40.2

42.8

4.84

3.49

19.67

10.59

308.9

28.13

36.01

12.35

20.33

109.49

116.24

2.08

1.82

6.1

12.65

309.4

27.57

37.17

45.57

37.61

20.03

17.84

5.83

11.06

10.87

13.91

310.8

72.73

79.34

19

20.67

197.75

234.94

5.49

8.04

4.89

6.47

310.9

48.08

58.87

44.09

67.93

51.57

32.3

2.76

3.49

22.38

23.63

311.9

28.26

30.71

28.51

27.35

19.39

16.59

6.14

9.56

46.26

34.25

312.1

NA

63.73

20.76

22.49

NA

43.15

NA

7.93

NA

16.84

312.8

13.7

17.04

122.77

76.3

49.07

33.66

2.92

2.33

5.13

2.16

313.1

67.13

60.89

30.25

13.67

70.79

63.55

7.25

7.15

21.68

16.37

314.2

3.87

2.83

22.18

14.36

59.03

57

5.34

4.25

24.05

14.5

314.6

51.26

53.06

144.22

251.67

61.09

34.87

51.56

37.1

4.55

2.43

314.7

38.28

9.86

494.78

140.68

234.64

21.96

15.55

9.4

8.84

9.25

316.7

45.02

10.76

66.8

42.34

33.7

21.04

4.3

2.99

13.48

5.43

317.2

98.54

124.37

134.87

184.63

178.12

190.53

2.26

2.41

0

0.89

318.3

NA

13.07

25.15

37.8

NA

10.69

NA

16.72

NA

17.77

319.0

45.97

50.21

55.54

45.25

15.05

13.78

13.09

17.51

9.38

13.74

321.0

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

textiles

11.51 53.45

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

133


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore) 2007

2008

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

2007

2008

2007

PBDIT (Rs. Crore)

2008

2007

PBDIT/Net Sales

2008

2007

2008

64

Shree Bharani Spinnings (India) Ltd.

High tenacity yarn of viscose rayon

18.68

22.12

0.75

0.78

1.55

1.93

2.65

2.39

14%

11%

65

Arora Fibres Ltd.

Polypropylene fibre

18.97

14.27

0.72

0.97

1.41

2.82

1.63

-4.28

9%

-30%

66

Welspun Syntex Ltd.

Polyester filament yarn (PFY)

269.61

281.37

0.76

0.81

1.93

2.12

-41.98

14.9

-16%

5% 35%

67

Arex Industries Ltd.

Textile labels, badges, etc.

14.15

16.16

0.43

0.45

0.28

0.37

5.18

5.7

37%

68

Modern Denim Ltd.

Cloth (Fabrics)

78.99

57.11

0.82

0.95

1.13

1.37

-8.21

29.33

-10%

51%

69

Maris Spinners Ltd.

Cotton yarn

67.31

66.16

0.74

0.75

1.54

1.60

11.97

7.82

18%

12%

70

Sree Jayalakshmi Autospin Ltd.

Cotton yarn

9.26

11.92

0.80

0.54

2.75

2.63

0.59

0.3

6%

3%

71

Damodar Threads Ltd.

Cotton & blended yarn, processed

63.05

176.85

0.75

0.90

0.97

1.96

4.55

14.38

7%

8%

72

Sangeeth Textiles Ltd.

Cotton yarn

60.01

68.72

0.87

0.69

1.17

1.14

13.01

10.28

22%

15%

73

Swastik Spintex Ltd.

Cotton yarn

12.74

11.7

0.88

0.96

4.08

4.43

1.12

0.36

9%

3%

74

Salona Cotspin Ltd.

Cotton yarn

41.24

46.22

0.76

0.78

1.11

1.05

9.08

7.39

22%

16%

75

Kadri Mills (Cbe) Ltd.

Cotton yarn

155.17

142.52

0.81

0.85

2.32

1.35

12.14

7.38

8%

5%

76

Venus Garments (India) Ltd.

Apparels (Readymade garment)

174.57

189.03

0.66

0.79

10.80

5.74

6.87

9.87

4%

5%

77

Oswal Spinning & Wvg. Mills Ltd.

Cotton yarn

78.59

67.14

0.75

0.79

1.50

1.47

11.92

6.26

15%

9%

78

East India Commercial Co. Ltd.

Jute & jute products

161.4

146.73

0.68

0.72

3.12

2.40

16.52

16.03

10%

11%

79

Jindal Texofab Ltd.

Cloth (Fabrics)

24.76

50.27

0.59

0.79

1.21

3.17

3.01

2.64

12%

5%

80

Bhaval Synthetics (India) Ltd.

Synthetic filament yarn other than sewing

9.42

19.67

0.70

0.87

0.24

0.67

1.53

0.66

16%

3%

81

Cheviot Co. Ltd.

Jute yarn

160.62

183.78

0.61

0.66

1.38

1.14

32.4

34.03

20%

19%

82

Cheema Spintex Ltd.

Cotton yarn

94.42

82.34

0.74

0.83

1.39

1.41

12.36

2.38

13%

3%

83

Selvaraja Mills Pvt. Ltd.

Cotton yarn

21.84

15.95

0.75

0.85

2.75

2.30

1.71

1.18

8%

7%

84

Subhash Polytex Ltd.

Acrylic filament yarn (AFY)

25.3

30.78

0.85

0.90

4.56

5.78

0.84

1.16

3%

4%

85

Palani Andavar Cotton & Synthetic Spinners

Cotton yarn

11.1

16.59

0.72

0.84

0.46

0.85

1.73

1.4

16%

8%

86

S T I India Ltd.

Cotton yarn

155.64

159.97

0.77

0.91

0.88

1.19

115.77

-5.42

74%

-3%

87

G P I Textiles Ltd.

Cotton yarn

252.84

213.24

0.75

0.85

0.61

0.91

32.17

14.84

13%

7%

88

Naihati Jute Mills Co. Ltd.

Jute & jute products

86.97

104.9

0.78

0.84

9.59

12.62

1.59

2.94

2%

3%

89

Sportking India Ltd.

Acrylic filament yarn (AFY)

200.68

238.63

0.78

0.82

1.30

1.73

29.12

26.53

15%

11%

90

Acknit Industries Ltd.

Gloves, mittens, etc. knitted or crocheted

33.96

44.83

0.69

0.77

1.58

2.02

4.67

4.54

14%

10%

91

Kewal Kiran Clothing Ltd.

Apparels (Readymade garment)

141

168.18

0.54

0.49

2.50

2.19

32.52

38.45

23%

23%

92

Kamarhatty Co. Ltd.

Jute & jute products

94.79

109.64

0.74

0.82

2.91

3.31

4.22

5.2

4%

5%

93

Hindoostan Spinning & Wvg. Mills Ltd.

Cloth (Fabrics)

61

55.48

0.82

0.92

3.67

4.22

3.55

-0.57

6%

-1%

94

Premco Global Ltd.

Rubberised textile fabrics (elastic tapes)

23.13

24.73

0.72

0.67

1.62

1.63

1.91

1.98

8%

8%

95

Madanapalle Spinning Mills Ltd.

Cotton & blended yarn

44.67

49.63

0.81

0.83

3.40

3.32

4.94

1.58

11%

3%

96

Pasupati Spinning & Wvg. Mills Ltd.

Synthetic filament yarn other than sewing

158.01

138.69

0.71

0.71

1.67

1.55

30.63

11.49

19%

8%

97

Katare Spinning Mills Ltd.

Cotton yarn

21.12

22.09

0.79

0.79

0.79

0.88

3.02

2.48

14%

11%

98

Emtex Industries (India) Ltd.

Cloth processed

48.17

43.13

0.83

1.02

4.22

5.43

-1.58

-6.8

-3%

-16%

99

Uniworth Ltd.

Wool yarn

100.04

165.01

0.82

0.81

0.95

1.70

11.55

21.62

12%

13%

100

R M Mohite Textiles Ltd.

Cotton yarn

100.58

106.14

0.80

0.79

1.30

0.94

17.46

16.84

17%

16%

101

Integra Apparels & Textiles Pvt. Ltd.

Apparels (Readymade garment)

43.53

76.09

0.82

0.78

1.94

1.81

4.96

5.59

11%

7%

102

Shiva Texyarn Ltd.

Cotton yarn

99.25

96.15

0.65

0.66

0.52

0.47

28.49

22.96

29%

24%

103

Bhandari Hosiery Exports Ltd.

Apparels - knitted / crocheted

65.39

75.06

0.74

0.83

5.40

6.03

3.92

4.57

6%

6%

104

Sarla Performance Fibres Ltd.

Textured yarn of synthetic filament yarn

101.45

112.81

0.64

0.63

1.70

1.38

18.47

20.29

18%

18%

105

Jasch Industries Ltd.

Coated / laminated textile fabrics

34.97

41.54

0.78

0.79

1.69

1.75

4.08

5.18

12%

12%

106

Ankur Udyog Ltd.

Textured yarn of synthetic filament yarn

133.11

120.85

0.99

1.07

1.38

1.44

7.5

12.33

6%

10%

107

Zodiac Clothing Co. Ltd.

Apparels (Readymade garment)

211.96

242.88

0.52

0.54

2.91

3.07

28.51

36.17

13%

15%

108

V K S M Cotton Mills Ltd.

Cotton yarn

20.13

22.27

0.71

0.78

0.91

1.10

5.06

4.43

25%

20%

109

Gloster Jute Mills Ltd.

Jute & jute products

128.78

157.68

0.64

0.70

1.46

1.93

14.77

26.34

11%

17%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

134

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days) 2007

Creditors Days Available (Days)

Raw Material Holding Period (Days)

2007

2008

2007

15.05

19.07

33.37

20.91

20.24

30.51

33.09

18.24

16.26

18.95

25.32

27.94

43.69

65.44

28.38

84.75

85.49

90.43

18.1

54.1

62.9

48.7

56.81

40.25

54.68

41.75

60.83

59.25

61.96

33.66

37.87

2008

Finished Goods Holding Period (Days) 2007

Composite Score

2007

2008

2008

22.33

13.1

13.65

17.34

15.1

321.4

20.63

1.62

1.39

33.62

38.87

323.1

22.6

1.67

3.27

17.17

19.96

324.1

135.09

109.58

16.92

12.82

6.65

12.49

324.9

24.01

24.85

8.02

9.52

32.87

20.94

325.1

36.38

149.84

157.73

5.32

5.47

12.7

11.63

326.4

74.93

86.18

38.29

70.11

2.92

3.41

19.65

13.48

326.6

13.24

23.55

24.94

33.94

6.71

14.39

15.21

7.12

327.8

20.27

67.41

54.08

47.53

32.07

5.39

5.01

20.62

22.77

328.3 330.4

16.03

6.31

16.46

19.88

27.85

21.79

2.27

4.27

13.59

22.3

48.61

46.95

13.98

14.71

110.41

90.38

4.04

7.78

9.42

15.14

331.2

35.17

29.21

10.58

15.85

53.7

45.92

7.06

8.87

6.45

9.04

331.3

10.05

8.57

24.8

16.96

38.18

17.75

21.54

21.78

10.87

12.78

332.3

69.57

78.1

59.6

95.67

32.11

31.95

9.01

9.9

9.94

13.8

332.3

14.75

15.49

25.51

29.72

62.76

77.8

6.53

7.38

10.26

9.61

333.3

77.59

29.98

209.51

212.93

60.99

19.95

3.03

1.3

11.83

24.33

334.2

13.02

12.43

229.81

131.15

130.36

8.91

0

5.75

0.23

1.81

336.3

22.61

19.41

15.47

30.64

62.11

67.65

7.48

6.31

14.29

16.95

338.0

68.97

73.48

40.63

54.94

91.01

94.46

5.88

6.24

3.02

3.37

338.1

17.92

21.34

22.25

33.1

49.21

68.12

6.33

6.83

6.68

6.57

338.1

46.45

26.98

77.47

35

39.2

35.85

3.87

3.35

14.03

24.05

339.0

25.21

23.4

268.45

177.96

80.38

38.17

3.62

3.41

4.09

4.04

339.5 340.9

17.87

11.78

46.44

69.76

51.51

27.09

4.73

4.25

3.68

4.19

12.88

22.34

104.24

109.3

14.58

20.46

5.39

6.3

4.66

7.85

341.1

10.49

7.29

53.91

56.1

37.26

34.96

12.84

8.65

10.84

5.26

342.1 342.6

52.19

46.98

79.98

44.86

85.52

94.19

5.69

5.45

9.46

12.76

49.62

49.83

25.98

28.22

65.23

62.85

7.29

11.8

10.4

15.04

342.7

52

65.6

34.85

47.5

22.22

18.22

28.14

29.15

27.83

39.72

343.5

31.19

25.29

87.88

66.02

41.47

34.24

8.1

6.7

18.88

13.09

344.6

373.83

323.29

99.69

45.1

28.65

33.37

9.86

12.44

12.35

18.85

345.6

61.07

55.88

39.9

51.82

71.87

76.77

5.51

3.72

30.29

23.24

347.3 349.3

36.78

43.2

85.64

59.45

33.59

26.11

10.74

13.24

12.16

12.84

81.73

83.79

65.06

72.43

22.52

18.98

9.75

9.51

38.85

45.99

349.7

12.01

13.03

62.23

62.19

28.62

17.78

3.97

7.42

22.48

17.5

350.0 350.3

324

255.17

289.31

299.73

14.48

20.05

20.15

20.71

8.07

6.89

1513.7

1110.11

1192.01

813.84

44.06

25.02

39.49

30.54

12.12

10.83

352.7

59.27

69.45

13.13

34.08

58.1

42.53

9.32

15.78

12.57

20.56

356.4

48.69

50.05

82.6

50.96

40.86

27.85

5.13

11.64

26.78

24.07

356.8

22.08

27.69

39.16

25.41

222.75

167.24

5.34

6.47

8.56

11.75

358.0

25.29

27.69

26.74

25.81

19.01

30.43

29.02

57.1

6.69

8.4

359.0

86.24

94.16

81.98

79.76

42.28

58.55

12.53

15.36

22.43

17

359.4

75.41

78.42

56.93

59.03

68.44

72.29

16.29

13.54

12.47

10.07

359.6

13.85

20.94

14.9

16.65

12.06

8.59

4.74

5.97

29.06

73.41

360.0

33.96

32

50.49

50.96

75.37

79.55

7.21

6.48

27.23

29.56

364.8

22.85

17.84

37.47

9.79

95.84

59.37

11.03

23.57

6.36

8.69

366.0

7.62

10.19

30.2

40

60.45

61.02

17.3

12.41

11.44

11.52

366.0

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

textiles

2008

WIP Holding Period (Days)

source: CMIE Prowess database

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135


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

110

Company Name

Sybly Industries Ltd.

Industrial Activity

High tenacity yarn of polyesters

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

64.24

72.93

0.93

0.92

2.80

2.55

3.75

5

6%

7%

111

Modern Terry Towels Ltd.

Terry towelling & similar woven terry fabrics

82.02

81.45

0.70

0.76

0.64

0.77

63.64

17.13

78%

21%

112

Sree Karpagambal Mills Ltd.

Cotton & blended yarn

109.84

103.92

0.80

0.79

2.63

2.29

9.22

10.02

8%

10%

113

Dhanlaxmi Fabrics Ltd.

Cloth processed

52.36

46.71

0.77

0.67

1.40

0.97

10.34

7.51

20%

16%

114

Parasrampuria Synthetics Ltd.

Polyester filament yarn (PFY)

143.73

127.51

0.79

0.84

0.37

0.36

11.93

-4.77

8%

-4%

115

Surat Textile Mills Ltd.

Polyester filament yarn (PFY)

100.07

90.14

0.81

0.91

3.90

4.30

1.77

43.42

2%

48%

116

Pioneer Spinning & Weaving Mills Ltd.

Cotton yarn

36.28

32.63

0.66

0.75

3.38

2.79

7.55

4.31

21%

13%

117

Madhumilan Industries Ltd.

Synthetic filament yarn other than sewing

35.53

34.52

0.91

0.95

17.86

20.02

2.15

0.46

6%

1%

118

Maharaja Shree Umaid Mills Ltd.

Cotton & blended yarn

219.63

257.45

0.82

0.87

2.41

2.90

25.77

22.21

12%

9%

119

Ludlow Jute & Specialities Ltd.

Jute & jute products

131.44

157.97

0.71

0.75

4.77

4.40

4.2

7.1

3%

4%

120

A P M Industries Ltd.

Synthetic filament yarn other than sewing

158.1

164.93

0.85

0.93

2.40

2.57

14.04

11.39

9%

7%

121

yogindera Worsted Ltd.

Acrylic filament yarn (AFY)

55.54

105.19

0.85

0.97

2.08

2.54

7.46

8.11

13%

8%

122

C A V Cotton Mills Ltd.

Cotton yarn

46.27

52.07

0.78

0.75

1.02

0.94

8.53

6.43

18%

12%

123

Sumeet Industries Ltd.

Polypropylene filament yarn (PPFY)

113.05

130.15

0.86

0.82

2.20

2.24

12.21

13.16

11%

10%

124

Kamadgiri Synthetics Ltd.

Cloth (Fabrics)

25.16

35.83

0.74

0.81

1.43

2.43

4

2.74

16%

8%

125

Kamadgiri Industries Ltd.

Polyester staple fibre (PSF)

33.76

30.43

0.95

1.02

56.00

70.55

0.69

0.86

2%

3% 8%

126

Deepak Spinners Ltd.

Cellulose acetate yarn

208.42

197.2

0.88

0.81

1.73

1.45

16.66

16.7

8%

127

Siddhartha Super Spg. Mills Ltd.

Synthetic filament yarn other than sewing

13.26

48.35

0.91

0.83

1.68

5.53

15.95

3.25

120%

7%

128

P B M Polytex Ltd.

Cotton & blended yarn

125.92

128.11

0.76

0.79

1.41

1.36

16.52

11.67

13%

9% 22%

129

Mecords India Ltd.

Cloth (Fabrics)

35.57

38.02

0.66

0.65

1.34

0.96

5.08

8.18

14%

130

Santaram Spinners Ltd.

Cotton yarn

11.99

11.8

0.98

0.93

3.60

3.16

0.61

0.89

5%

8%

131

Scan Synthetics Ltd.

Synthetic filament yarn other than sewing

25.24

23.47

0.87

0.76

2.00

2.05

1.37

2.84

5%

12%

132

Ganesh Polytex Ltd.

Textured yarn of synthetic filament yarn

63.08

106.4

0.80

0.75

1.61

1.65

7.05

11.89

11%

11%

133

Reliance Chemotex Inds. Ltd.

Cotton & blended yarn

105.19

147.53

0.80

0.74

2.86

2.56

6.92

8.61

7%

6%

134

Nandan Exim Ltd.

Cloth (Fabrics)

224.38

295.8

0.78

0.81

1.09

1.10

42.95

52.81

19%

18%

135

Somany Evergreen Knits Ltd.

Cloth (Fabrics)

15.71

13.96

0.78

0.79

0.85

0.85

3.28

1.81

21%

13%

136

H P Cotton Textile Mills Ltd.

Cotton yarn

73.94

64.07

0.76

0.58

3.38

2.48

3.89

-2.35

5%

-4%

137

Ganga Acrowools Ltd.

Acrylic filament yarn (AFY)

42.89

59.68

0.93

0.69

2.15

1.41

7.16

6.67

17%

11%

138

Budge Budge Co. Ltd.

Jute & jute products

42.34

80.14

0.77

0.79

0.50

1.01

0.85

2.08

2%

3%

139

V M T Spinning Co. Ltd.

Cotton yarn

68.48

91.12

0.65

0.69

0.84

1.11

15.15

17.58

22%

19%

140

Evinix Accessories Ltd.

Apparels (Readymade garment)

68.27

119.01

0.91

0.79

3.61

3.98

10.17

20.33

15%

17% 16%

141

Sri Ramiah Spinners Ltd.

Cotton yarn

27.8

27.17

0.88

0.83

1.47

1.34

3.53

4.33

13%

142

G S L (India) Ltd.

Synthetic filament yarn other than sewing

55.71

54.87

0.83

0.90

0.65

0.77

2.82

1.04

5%

2%

143

Shree Rajasthan Syntex Ltd.

Cotton & blended yarn

299.87

277.34

0.80

0.96

1.80

1.78

28.94

21.18

10%

8%

144

Suryavanshi Spinning Mills Ltd.

Cotton & blended yarn

212.3

172.34

0.81

0.86

2.44

1.78

21.47

12.52

10%

7%

145

Simplex Mills Co. Ltd.

Cotton & blended yarn

21.99

19.36

0.79

0.93

1.17

1.25

1.09

-0.66

5%

-3%

146

M H Mills & Inds. Ltd.

Cloth (Fabrics)

62.36

69.78

0.86

0.84

2.34

3.52

79.25

0.81

127%

1%

147

Stripes Apparels Ltd. [Merged]

Apparels (Readymade garment)

3.16

31.6

0.62

1.05

0.42

3.59

0.61

2.66

19%

8%

148

Gem Spinners India Ltd.

Cotton yarn

97.48

104.51

0.77

0.88

2.31

3.14

10.19

5.03

10%

5%

149

Rajanarayan Textiles Ltd.

Cotton yarn 1s to 10s

40.68

34.72

0.86

0.72

3.77

2.29

3.97

1.82

10%

5%

150

Nitin Spinners Ltd.

Cotton yarn

128.57

201.62

0.69

0.75

0.36

0.53

24.94

30.11

19%

15%

151

Seasons Textiles Ltd.

Cloth (Fabrics)

30.56

34.14

0.57

0.66

0.87

1.11

4.39

4.61

14%

14%

152

Ashnoor Textile Mills Ltd.

Terry towelling & similar woven terry fabrics

33.91

50.36

0.74

0.61

3.30

2.67

2.82

3.59

8%

7%

153

D C M Ltd.

Cotton & blended yarn

102.66

164.96

0.77

0.87

0.96

1.63

22.28

13.55

22%

8%

154

Annur Satya Textile Ltd.

Cotton yarn

8.84

14.72

0.48

0.96

0.33

0.79

2.24

4.55

25%

31%

155

Ginza Industries Ltd.

Other textile articles

89.65

111.08

0.71

0.88

0.66

0.85

24.18

27.35

27%

25%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

136

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2008

2007

2008

2007

2008

2007

2008

2007

2008

80.24

108.44

86.94

29.17

24.67

38

44.15

9.57

7.81

366.6

43.88

36.86

47.01

53.43

41.43

26.17

15.31

11.94

31.04

27.41

367.6

48.96

59.1

36.82

28.79

87.31

62.12

5.33

4.29

59.84

76.33

367.7

54.58

57.89

38.22

53.16

27.66

29.02

5.25

10.45

45.41

46.89

368.1

92.79

98.04

265.55

288.27

36.23

30.02

5.33

5.35

12.71

15.65

368.3

19.3

30.74

77.32

86.01

14.42

20.74

13.5

13.96

17.06

22.24

368.9

21.82

23.11

19.98

40.41

86.98

80.65

8.82

9.44

15.58

14.02

369.0

30.96

26.31

54.28

53.05

33.79

36.86

6.02

5.97

9.23

18.84

369.8

20.24

17.73

23.05

19.6

94.85

99.39

6.3

7.49

9.43

11.67

370.3

20

15.95

45.32

72.52

53.75

81.02

3.63

4.51

8.04

9.8

373.2

33.44

42.35

29.8

38.67

25.67

25.18

9.35

11.21

24.42

29.16

374.1

17.96

22.6

24.19

16.92

18.46

9.6

35.04

15.37

36.77

30.65

375.7

21.55

29.75

101.07

75.3

64.51

49.22

5.14

3.73

28.89

24.57

375.8 376.0

16.4

19.16

18.57

23.53

31.22

40.97

26.76

36.12

11.33

8.74

68.64

58.05

24.07

54.61

82.33

100.42

0.73

4.3

19.1

20.4

376.1

36.28

30.3

367.28

380.43

2.85

2.72

7.99

24.26

2.16

6.13

376.5

31.06

35.73

13.71

13.15

33.1

42.64

10.02

11.64

24.17

30.9

376.5

4.27

6.9

185.38

41.64

174.33

32.19

23.09

14

22.85

13.09

377.9

23.59

19.83

25.1

17.94

166.17

126.92

7.22

7.68

10.09

11.26

378.0

NA

154.79

34.61

48.65

NA

64.98

NA

75.77

NA

13.23

378.1

128.74

173.06

26.27

33.41

38.61

88.06

0.97

2.51

62.99

81.74

383.2

32.32

34.13

36.93

47.88

15.54

16.51

47.82

77.17

18.18

21.34

383.5

39.14

26.48

43.64

28.89

64.59

55.83

15.25

13.64

20.92

17.87

383.6

7.95

8.21

46.68

48.93

42.86

33.52

14.21

12.23

21.78

16.53

384.6

74.49

89.9

42.63

38.33

31.96

49.41

10.23

23.79

32.16

23.69

386.3

NA

58.82

88.53

61.44

NA

56.89

NA

35.33

NA

5.53

386.9

36.06

31.26

78.51

46.83

60.16

52.21

2.17

2.72

53.81

60.57

387.8

59.45

45.72

53.59

72.96

21.99

30.39

10.92

11.66

46.26

37.37

387.9

26.88

13.67

241.97

143.74

31.65

30.1

15.24

8.6

14.66

7.15

388.0

21.67

21.3

28.84

22.18

290.22

217.51

14.74

13.39

9.42

8.17

388.5

85.16

98.37

39.18

55.98

34.62

71.96

24.24

35.68

13.38

16.71

388.6

35.19

37.79

22.63

23.31

91.2

79.81

6.91

7.58

20.74

30.16

388.6

24.06

34.5

241.49

262.98

14.11

16.04

4.4

4.37

12.33

19.21

388.9

22.86

27.65

27.7

40.62

30.59

28.82

7.43

9.1

17.04

28.61

390.1

45.99

40.31

33.07

54.05

50.19

46.63

5.93

9.14

11.33

20.49

390.7

23.72

24.65

31.47

42.73

29.98

27.45

13.38

14.96

10.15

8.66

392.6

51.75

31.86

121.41

93.75

28.55

7.18

44.89

39.41

14.25

11.72

393.9

25.99

39.99

265.06

120.54

82.95

2.09

0

12.42

0

30.64

394.0

77.93

98.27

122.65

164.76

155.65

180.85

6.04

5.62

10.84

9.94

394.4

80.82

113.23

93.25

130.93

61.52

57.04

8.46

8.43

33.14

31.12

394.6 395.0

17.79

17.47

32.74

20.54

155.99

110.26

11.42

10.69

13.99

9.86

75.01

82.7

41.6

50.8

132.72

151.65

4.75

4.78

43.12

42.66

395.3

19.94

28.57

67

73.18

9.86

11.98

21.6

16.34

41.1

39.27

395.5

866.55

466.45

361.69

179.87

218.98

175.37

6.68

5.95

9.63

12.24

396.2

18.46

21.04

60.46

38.76

679.07

99.75

0

8.43

0

9.55

400.9

52.89

52.98

34.28

33.77

33.7

29.26

21.06

11.87

76.22

89.46

403.2

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

textiles

2007 86.08

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

137


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

156

Southern Spinners & Processors Ltd.

Cotton yarn

32.18

28.86

0.80

0.93

3.22

3.70

1.92

-0.67

6%

-2%

157

Wires & Fabriks (S.A.) Ltd.

Textile products for technical uses

44.78

49.63

0.41

0.43

0.31

0.39

10.14

11.1

23%

22%

158

Prathishta Weaving & Knitting Co. Ltd.

Cotton & blended yarn

16.16

17.73

0.57

0.67

2.10

2.76

2.08

1.82

13%

10%

159

Rainbow Denim Ltd.

Denim

106.69

122.22

0.73

0.70

0.54

0.62

4.9

5.72

5%

5% 15%

160

Thanjavur Spinning Mill Ltd.

Cotton yarn

35.45

41.54

0.77

0.61

0.68

0.47

7.85

6.2

22%

161

Sree Vadivambigai Textile Mills Ltd.

Cotton yarn

27.83

23.8

0.72

0.86

3.41

3.72

0.62

1.01

2%

4%

162

Prabartak Jute Mills Ltd.

Jute & jute products

40.6

56.51

1.08

0.80

11.73

11.18

1.14

1.35

3%

2% 10%

163

Sri Ram Spinning Mills Ltd.

Cotton yarn

25.76

24.76

0.77

0.81

1.10

1.17

3.51

2.59

14%

164

Riba Textiles Ltd.

Towels including turkish towels

45.51

52.45

0.57

0.55

0.70

0.81

8.79

9.24

19%

18%

165

Addi Industries Ltd.

Apparels - knitted / crocheted

8.48

16.93

0.44

0.33

0.54

0.51

-4.52

3.42

-53%

20%

166

Hind Syntex Ltd.

Synthetic filament yarn other than sewing

78.59

78.15

0.84

0.95

1.29

1.59

5.93

0.89

8%

1%

167

Oswal Knit India Ltd.

Apparels (Readymade garment)

62.99

65.86

0.85

0.89

7.09

8.58

3.54

3.59

6%

5%

168

Silver Spark Apparel Ltd.

Apparels (Readymade garment)

73.44

93.38

0.77

0.67

1.09

1.16

7.25

14.42

10%

15%

169

Jaimurugan Textiles Ltd.

Cotton yarn

24.55

22.63

0.94

0.97

1.45

1.48

2.88

1.94

12%

9%

170

Kallam Spinning Mills Ltd.

Cotton & blended yarn

50.06

62.17

0.66

0.65

0.57

0.62

12.32

16.07

25%

26%

171

Ramaraju Surgical Cotton Mills Ltd.

Cotton yarn

82.11

98.8

0.69

0.66

0.49

0.36

17.69

17.03

22%

17% 17%

172

Richa Industries Ltd.

Cloth processed

63.59

99.71

0.71

0.80

0.63

0.98

8.79

17.3

14%

173

Euro Fashion Inners Intl. Pvt. Ltd.

Apparels - knitted / crocheted

22.42

26.92

0.59

0.23

20.52

5.12

0.7

1.26

3%

5%

174

york Exports Ltd.

Other garments, knitted or crocheted

7.54

10.11

0.40

0.62

1.39

2.96

1.04

1.24

14%

12%

175

Orbit Exports Ltd.

Cloth (Fabrics)

27.21

39.06

0.90

0.89

6.49

7.08

2.52

4.39

9%

11%

176

Durairaj Mills Ltd.

Cotton yarn

35.12

32.3

0.81

0.71

1.79

0.66

4.3

3.04

12%

9%

177

Vishnu Cotton Mills Ltd.

Cotton yarn

52.03

48.07

0.79

0.83

1.54

1.63

6.38

5.23

12%

11%

178

Madura Garments Exports Ltd.

Apparels (Readymade garment)

145.25

211.75

0.82

0.84

2.07

2.14

6.76

-8.09

5%

-4%

179

Van Tex Ltd.

Cotton yarn

24.81

22.34

0.66

0.82

2.20

2.60

2.63

0.92

11%

4%

180

Veejay Lakshmi Textiles Ltd.

Cotton yarn

33.38

37.92

0.75

0.79

0.70

0.68

3.9

-0.58

12%

-2%

181

Sri Ramakrishna Mills (Coimbatore) Ltd.

Cotton yarn

62.37

55.79

0.89

0.74

1.55

0.90

39.23

5.99

63%

11% 10%

182

Guhan Textile Mills Pvt. Ltd.

Cotton yarn

47.69

41.82

0.77

0.75

1.42

1.36

10.24

3.99

21%

183

Modern Threads (India) Ltd.

Cotton & blended yarn

86.29

82.94

0.79

0.79

1.38

1.44

183.46

12.35

213%

15%

184

Bannari Amman Spinning Mills Ltd.

Cotton yarn

105.92

197.66

0.73

0.80

0.24

0.36

30.42

43.31

29%

22%

185

Ventura Textiles Ltd.

Cloth (Fabrics)

65.88

80.75

0.88

0.87

1.63

2.07

12.41

5.68

19%

7%

186

Ruby Mills Ltd.

Cloth (Fabrics)

108.55

119.05

0.53

0.53

0.40

0.24

26.89

26.36

25%

22%

187

Rajapalayam Mills Ltd.

Cotton yarn

212.1

241.57

0.64

0.61

0.58

0.51

60.04

55.96

28%

23%

188

Aarvee Denims & Exports Ltd.

Denim

250.95

251.92

0.66

0.73

0.57

0.58

59.18

39.38

24%

16%

189

Danube Fashions Ltd. [Merged]

Apparels - knitted / crocheted

18.22

12.16

0.57

0.60

1.33

1.15

2.71

-1.18

15%

-10%

190

S R Industries Ltd.

Terry towelling & similar woven terry fabrics

40.22

36.08

0.59

0.66

0.99

1.13

5.03

5.37

13%

15%

191

Tubeknit Fashions Ltd.

Apparels - knitted / crocheted

137.73

139.95

0.74

0.82

2.61

3.11

16.32

14.29

12%

10%

192

Konark Synthetic Ltd.

Textured yarn of synthetic filament yarn

26.4

59.21

0.86

0.88

2.56

1.55

2.02

4.48

8%

8%

193

K K P Textiles Ltd.

Cotton yarn

141.1

237.53

0.69

0.80

3.69

5.08

19.62

12.91

14%

5%

194

Ginni International Ltd.

Cotton yarn

186.12

210.28

0.77

0.81

0.86

1.04

26.05

13.25

14%

6%

195

Haryana Texprints (Overseas) Ltd.

Cloth processed

27.02

32.25

0.83

0.84

2.86

3.59

2.49

3.09

9%

10%

196

Selection Synthetics Ltd.

Man-made fabrics

43.59

47.23

0.74

0.79

2.89

3.92

2.85

-3.1

7%

-7%

197

Amarjothi Spinning Mills Ltd.

Cotton yarn

81.5

77.07

0.75

0.82

0.85

0.93

17.53

14.33

22%

19%

198

Super Sales India Ltd.

Cotton yarn

104.21

97.14

0.53

0.64

0.62

0.62

31.98

30.96

31%

32%

199

Zenith Exports Ltd.

Silk & silk textiles

210.93

238.34

0.74

0.76

2.53

3.05

15.14

14.27

7%

6%

200

V T M Ltd.

Cloth (Fabrics)

107.61

94.46

0.73

0.79

1.24

1.28

15.98

10.11

15%

11%

201

G I V O Ltd.

Men's suits, trousers, etc. knitted or crocheted

18.28

28.34

0.86

0.50

0.60

0.60

2.9

3.06

16%

11%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

138

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

51.06

32.99

19.32

30.42

99.98

58.28

5.72

5.61

25.78

33.79

403.4

111.07

112.69

67.72

77.88

112.48

131.46

22.35

19.07

14.64

12.81

406.0

6.59

8.94

21.6

18.25

51.86

60.28

12.65

14.09

32.21

24.53

406.7

55.24

44.51

135.49

121.45

49.99

42.41

11.61

9.21

24.52

17.23

408.4 409.8

16.64

73.79

15.79

137.31

119.79

7.64

6.24

39.78

29.86

13.88

46.27

36.32

25.81

27.2

13.43

13.26

22.42

28.02

411.7

13.86

11.97

67.89

65.79

32.94

42.13

8.28

5.93

32.24

35.64

415.6

23.47

26.76

57.89

54.59

94.46

99.91

7.46

6.81

12.75

15.87

416.6

20.57

9.63

3.11

20.01

20.25

25.07

43.21

59.38

35.35

32.17

418.4

22.57

30.62

23.31

30.82

146.94

116.77

8.89

8.2

62.54

37.06

419.4

26.06

18.17

33.4

35.42

29.75

29.62

12.37

11.88

15.63

21.15

420.7

118.11

105.79

237.12

259.83

55

63.15

1.61

1.81

96.88

122.43

420.8

41.96

42.96

105.31

68.23

46.39

54.19

21.4

18.25

32.73

23.83

421.3

67.48

87.25

126.35

159.85

41.67

36.5

5.15

6.14

22.47

52.45

421.5

17.35

20.44

19.34

37.65

193.39

165.37

21.23

14.65

6.89

10.55

421.7

17

15.79

105.9

32.42

123.45

122.73

9.98

9.75

17.38

16.44

422.6

51.8

64.03

26.83

84.03

70.87

131.01

36.64

32.26

6.85

1.65

423.5

123.9

82.39

77.15

36.79

97.92

100.67

33.83

12.47

96.54

62.03

423.7

25.68

16.02

39.69

43.61

72.29

39.84

25.84

22.63

56.34

38.1

424.1

40.31

33.51

26.88

32.79

45.08

40.02

17.21

13.76

62.29

65.61

424.3

58.32

62.59

71.21

31.47

113.48

131.64

6.39

7.32

31.12

39

425.6

NA

23.78

50.91

80.1

NA

78.24

NA

14.13

NA

5.65

426.3

54.17

91.98

62.88

74.63

44.59

65.58

8.51

16.45

8.6

14.62

426.6

27.42

28.99

52.47

42.22

41.6

35.12

9.94

13.31

16.65

32.19

427.2

51.22

68.02

24.1

58.61

85.95

69.6

21.32

24.1

6.17

6.89

427.9

78.96

87.15

57.81

207.04

46.17

47.49

10.82

12.88

33.5

30.61

429.2

32.83

37.96

83.26

67.75

141.77

115.13

4.98

8.9

14.15

19.22

430.1

49.41

33.37

111.65

119.02

28.96

34.89

20.7

17.11

16.97

23.36

432.4

12.45

16.45

42.9

24.41

262.12

181.32

6.52

6.28

17.82

21.2

432.8 433.6

24.65

20.18

52.88

46.04

25.17

17.52

239.08

444.91

25.81

17.28

39.25

36.23

92.44

190.13

45.37

49.9

52.46

53.84

8.38

9.08

433.9

17.97

28.22

63.5

52.28

165.99

148.44

9.96

8.45

22.6

23.61

434.6

37.08

50.39

175.26

47.14

75.87

49.08

11.24

20.97

24.26

32.73

434.8

107.37

169.45

45.36

27.14

35.23

63.94

57.26

61.17

12.99

28.86

435.0

24.91

39.46

52.27

64.17

38.38

44.98

88.87

110.14

11.47

18.4

435.3

NA

62.38

62.75

51.74

NA

59.41

NA

66.88

NA

20.08

437.2

48.14

84.15

77.08

101.35

7.43

34.12

36.12

88.58

24.19

14.86

437.3

36.2

23.48

45.3

24.35

80.64

68.34

42.75

26.4

28.79

17.86

437.5

27.25

33.31

23.4

26.64

107.9

72.58

17.46

21.45

18.32

15.26

438.6

71.15

75.31

93.74

91.65

49.73

54.66

43.74

52.42

12.58

17.43

439.0

70.99

86.46

30.18

94.45

48.41

37.04

26.91

25.72

26.04

30.14

439.3 440.0

47.37

45.1

17.85

10.12

106.31

93.58

14.29

9.81

42.98

67.74

30.07

40.05

48.04

65.57

157.92

172.22

9.72

8.73

14.25

28.77

440.1

48.51

53.62

42.67

43.92

59.95

48.94

21.7

17.57

53.73

47.62

440.4

19.41

29.13

14.3

12.65

28.26

39.66

20.29

24.16

38.31

52.31

440.4

421.56

259.66

281.26

229.59

69.54

70.07

15.31

12.39

76.77

35.37

441.2

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

textiles

15.8 48.12

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

139


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

202

Company Name

Industrial Activity

Shamken Multifab Ltd.

Cloth (Fabrics)

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

36.53

24.3

0.66

0.71

0.10

0.08

0.25

-1.14

1%

-5%

203

Birla Cotsyn India Ltd.

Textured yarn of synthetic filament yarn

54

85.18

0.86

0.84

1.00

0.59

4.97

5.76

9%

7%

204

Baroda Rayon Corpn. Ltd.

Synthetic filament yarn other than sewing

94.9

176.79

0.97

0.94

0.33

0.66

-2.68

-26.01

-3%

-15%

205

Seyad Cotton Mills Ltd.

Cotton yarn

37.55

29.8

0.59

0.69

0.58

0.53

9.5

7.31

25%

25%

206

Ganges Manufacturing Co. Ltd.

Jute & jute products

141.16

124.02

0.83

1.05

21.69

26.47

2.04

4.04

1%

3%

207

Vast Textiles Ltd.

Cotton yarn

106.51

104.76

0.84

0.89

1.61

1.83

13.53

5.92

13%

6%

208

Bengal Tea & Fabrics Ltd.

Cotton yarn

116.19

126.85

0.71

0.70

1.25

1.33

19.31

14.58

17%

11%

209

Bhilwara Processors Ltd.

Cloth processed

24.39

25.32

0.76

0.78

0.67

0.74

2.15

1.81

9%

7%

210

Aunde Faze Three Ltd.

Coated / laminated textile fabrics

57.96

65.11

0.74

0.65

1.29

1.02

9.14

11.15

16%

17%

211

Winsome Textile Inds. Ltd.

Cotton yarn

145.17

163.39

0.71

0.72

0.71

0.67

27.37

28.79

19%

18% 13%

212

Jagjanani Textiles Ltd.

Cotton yarn

18.03

35.49

0.67

0.81

0.83

0.58

4.92

4.66

27%

213

Rai Saheb Rekhchand Mohota Spg. & Wvg.

Cotton & blended yarn

125.99

154.46

0.84

0.82

2.16

1.75

10.51

8.14

8%

5%

214

Pasupati Fabrics Ltd.

Cloth (Fabrics)

56.81

25.43

0.66

0.78

0.55

0.36

-5.71

-9.84

-10%

-39%

215

Nutech Global Ltd.

Woven fabrics of man-made filaments

24.21

25.32

0.79

0.81

2.69

3.03

1.87

1.98

8%

8%

216

Kumaragiri Textiles Ltd.

Cotton yarn

26.81

28.05

0.74

0.64

1.30

0.99

4.61

4.46

17%

16%

217

Arthanari Loom Centre (Textile) Ltd.

Cloth (Fabrics)

51.87

61.69

0.84

0.65

1.48

1.28

6.83

8.51

13%

14%

218

Gangotri Textiles Ltd.

Cotton yarn

166.64

158.8

0.69

0.79

0.34

0.35

25.61

19.61

15%

12%

219

Patspin India Ltd.

Cotton yarn

138.16

160.39

0.73

0.86

0.80

0.56

18.16

13.57

13%

8%

220

Sky Industries Ltd.

Rubberised textile fabrics (elastic tapes)

62.93

63.04

0.78

0.61

2.04

1.70

6.49

6.37

10%

10%

221

Voith Paper Fabrics India Ltd.

Felt

46.49

47.69

0.46

0.41

0.84

0.74

17.56

18.27

38%

38%

222

Anjani Fabrics Ltd.

Cloth (Fabrics)

112.66

86.3

0.80

0.93

5.14

3.40

7.05

8.98

6%

10%

223

Himatsingka Seide Ltd.

Woven fabrics of silk

200.56

261.2

0.51

0.79

0.29

0.42

79.23

13.35

40%

5%

224

Kandagiri Spinning Mills Ltd.

Cotton yarn

94.31

88.71

0.77

0.69

0.84

0.53

21.86

21.39

23%

24%

225

Mudra Lifestyle Ltd.

Cloth (Fabrics)

164.23

272.55

0.87

1.01

2.56

2.53

26.61

46.22

16%

17%

226

Sabare International Ltd.

Other textile articles

242.3

154.96

0.69

0.88

1.87

1.26

38.32

3.84

16%

2%

257.15

291.15

0.81

0.83

0.75

0.88

20.59

16.88

8%

6%

52.7

51.33

0.51

0.59

0.65

0.66

21.92

9.38

42%

18%

163.94

168.7

0.83

0.78

2.13

1.60

12.27

-0.49

7%

0%

227

Indo Count Inds. Ltd.

Cotton yarn

228

Indian Card Clothing Co. Ltd.

Metallised yarn

229

S R F Polymers Ltd.

Synthetic filament yarn other than sewing

230

Garware Marine Inds. Ltd.

Fishing nets

16.77

12.29

0.65

0.90

4.25

4.52

1.78

1.45

11%

12%

231

Arasan Syntex Ltd.

Cotton yarn

26.06

24.06

0.60

0.62

0.75

0.79

6.17

5.93

24%

25%

232

Sambandam Spinning Mills Ltd.

Cotton yarn

135.68

133.24

0.64

0.72

0.71

0.64

33.69

26.44

25%

20%

233

Harshni Textiles Ltd.

Cotton yarn

40.26

44.31

0.80

0.74

0.95

0.39

7.93

4.48

20%

10%

234

Donear Industries Ltd.

Man-made fabrics

164.75

179.81

0.63

0.69

1.04

0.71

28.88

30.39

18%

17%

235

Vanasthali Textile Inds. Ltd.

Towels including turkish towels

108.6

108.61

0.75

0.76

1.24

1.33

11.35

6.28

10%

6%

236

Faze Three Ltd.

Cotton durries

123.08

126.5

0.72

0.66

1.08

0.84

19.53

19.42

16%

15%

237

Morarjee Textiles Ltd.

Cloth (Fabrics)

211.92

172.38

0.58

0.61

0.80

0.68

29.6

3.26

14%

2%

238

Anisa Carpets Ltd.

Carpets, etc.

17.38

17.59

0.31

0.41

1.02

1.41

0.57

0.7

3%

4% 12%

239

Colorplus Fashions Ltd.

Apparels (Readymade garment)

121.82

147.21

0.60

0.59

3.20

2.98

23.01

17.05

19%

240

Lakshmi Mills Co. Ltd.

Cotton & blended yarn

147.24

103.1

0.82

0.68

0.78

0.41

17.2

3.04

12%

3%

241

G T N Textiles Ltd.

Cotton yarn

115.78

113.83

0.74

0.85

1.21

1.08

13.61

11.7

12%

10%

242

Bally Jute Co. Ltd.

Jute & jute products

94.62

100.14

0.86

0.84

0.98

0.99

7.65

8.29

8%

8%

243

Kish Exports Ltd.

Women's overcoats, etc. knitted or crocheted

109.41

83.02

0.49

0.43

3.61

2.53

6.92

4.16

6%

5%

244

K G Fabriks Ltd.

Cloth (Fabrics)

34.79

75.71

1.18

0.66

0.62

0.67

1

-0.95

3%

-1%

95.94

101.67

0.71

0.65

1.57

1.39

17.28

7.76

18%

8%

118

165.81

0.83

0.87

1.28

0.78

18.12

25.79

15%

16%

187.42

280.66

0.78

0.78

0.85

1.21

24.69

25.32

13%

9%

245

J J Exporters Ltd.

Silk & silk textiles

246

Supreme Tex Mart Ltd.

Synthetic staple fibres, not carded or combed

247

G T N Industries Ltd.

Cotton yarn

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

140

february 28, 2010 | industry 2.0

- technology management for decision-makers

www.industry20.com


small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2008

2007

2008

2007

2008

2007

2008

2007

2008

68.9

87.58

87.45

112.26

54.42

88.61

4.3

5.13

23.07

27.78

441.8

32.39

46.15

76.78

87.34

19.55

30.77

7.71

13.75

18.25

21.96

442.2

11.62

10.87

315.19

234.23

14.07

10.46

9.9

9.63

19.81

13.58

442.4

44.12

61.18

12.74

22.3

114.05

116.5

8.93

23.51

18.7

31.89

443.2

70.53

74.59

106.65

146.63

54.38

61.1

6.02

6.13

19.71

41.76

443.6

41.7

57.02

13.3

101.69

89.33

70.1

23.28

36.79

3.19

3.55

444.0

20.03

24.54

42.33

47.56

118.46

93.88

19.96

22.29

11.9

15.24

444.7 445.0

28.67

29.78

107.03

147.99

65.69

79.72

12.34

16.88

1.5

0.38

79.62

101.16

37.02

81.92

44.62

57.98

17.83

17.12

55.72

63.86

445.7

36.66

37.82

99.02

95.66

39.15

34.51

21.59

22.57

22.19

31.03

446.9

65.73

53.43

55.13

93.38

243

147.84

14.99

25.27

2.61

0.39

447.1

58.66

52.46

44.3

62.97

45.39

51.03

59.94

64.1

11.88

13.54

449.0

39.33

52.39

70.88

106.87

18.31

33.77

60.92

47.29

13.08

8.38

449.1

48.61

48.42

39.02

34.68

30.63

45.7

20.25

31.16

35.96

45.18

449.7

17.73

18.36

165.41

120.83

119.76

72.87

4.79

4.86

58.18

45.02

454.8

50.31

37.77

66.25

73.85

27.23

40.54

38.36

42.86

32.78

35.78

454.9

39.68

49.52

66.45

55.53

53.24

54.48

8.48

8.76

38.79

72.62

455.7

18.14

29.02

19.19

35.85

106.98

92.16

9.65

11.09

16.63

18.38

457.6

50.56

59.97

125.25

86.07

31.93

39.49

47.98

46.01

35.54

42.9

457.6 458.4

65.9

62.02

42.61

39.35

147.1

160.01

22.86

25.68

31.76

35.07

44.61

68.54

63.13

117.32

33.25

61.21

14.4

18.7

8.8

24.92

458.6

74.48

73.48

49.24

49.02

88.19

61.51

83.22

69.15

14.63

13.65

462.6

28.18

42.32

51.86

64.58

103.85

127.79

19.35

23.14

11.99

16.4

462.9

70.3

73.28

69.13

60.34

46.2

42.16

49.13

38.58

26.51

45.67

463.2

88.39

104.8

25.69

43.7

53.35

97.39

53.99

69.17

11.63

11.78

465.2

46.69

41.96

78.1

88.14

60.19

48.6

13.45

26.14

7.71

13.26

466.7

61.61

67.71

74.57

124.87

114.12

91.98

31.37

33.85

21.56

19.5

466.7

56.66

42.48

82.17

101.99

56.27

49.25

14.6

13.33

27.63

26.44

467.0

89.26

129.44

60.16

76.6

46.46

45.69

75.4

71.21

40.54

44.82

467.1

1.18

0.23

16.34

26

102.72

138.19

9

11.22

23.9

36.52

467.7

25.11

43.25

55.67

46.33

147.61

117.47

32.09

29.45

17.29

18.22

467.8

40.99

41.69

26.64

52.68

203.34

207.87

6.19

5.2

36.79

39.17

469.4

111.65

110.05

43.1

45.07

87.56

99.13

29.53

43.18

32.91

37.93

469.6

56.09

52.27

47.41

90.6

30.6

24.25

31.77

26.26

47.62

50.63

470.4

38.13

75.66

47.96

64.2

58.81

74.94

13.61

19.75

46.39

57.69

471.2

62.6

74.79

74.44

79.9

39.1

48.92

52.18

75.36

16.61

20.71

471.9

58.74

88.71

60.87

57.73

81.83

94.4

44.77

51.2

54.85

25.68

472.2

20.51

25.4

51.84

37.68

63.3

59.39

25.68

27.23

78.21

88.05

474.1

15.98

29.44

58.66

48.97

34.85

45.35

7.02

10.1

40.43

54.01

474.2

21.98

29.72

36.49

58.38

95.9

115.23

6.12

6.02

27.79

36.81

474.7

23.52

19.32

21.79

27.52

73.6

75.55

13.14

15.37

21.12

22.65

475.9

5.22

3.44

38.07

57

167.25

207.14

9.25

11.59

20.32

18.17

476.4

NA

68.28

150.06

114.11

NA

22.98

NA

45.5

NA

38.22

477.1

67.54

64.45

27.31

24.88

86.68

85.04

69.12

63.5

44.98

45.95

478.8

35.43

59.56

59.76

150.77

58.41

66.31

7.98

12.75

27.41

30.53

480.5

20.29

20.25

35.61

22.36

122.74

110.35

23.29

24.2

26.32

21.73

481.0

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

textiles

2007

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

141


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

248

Company Name

Industrial Activity

Grabal Alok Impex Ltd.

Special woven fabrics

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

98.85

128.91

0.53

0.52

0.60

0.43

32.78

45.01

33%

35%

249

Kanco Enterprises Ltd.

Cotton yarn

86.41

100.16

0.70

0.77

0.80

1.08

9.75

4.77

11%

5%

250

Chandra Textiles Ltd.

Cotton yarn

28.95

24.33

0.63

0.66

1.63

0.88

5.1

3.44

18%

14%

251

Tuticorin Spinning Mills Ltd.

Cotton yarn

32.59

29.73

0.59

0.76

0.84

0.70

7.49

8.32

23%

28%

252

Priyadarshini Spinning Mills Ltd.

Synthetic filament yarn other than sewing

185.04

195.4

0.80

0.86

1.17

1.24

16.91

12.87

9%

7%

253

Sulochana Cotton Spg. Mills Pvt. Ltd.

Cotton yarn

110.09

131.5

0.70

0.85

0.73

0.79

26.6

26

24%

20%

254

Ambika Cotton Mills Ltd.

Cotton yarn

142.54

167.41

0.63

0.63

0.42

0.36

31.44

51.58

22%

31%

220.61

179.33

0.68

0.81

1.18

1.24

3.47

6.21

2%

3%

13.71

25.1

1.00

0.51

114.58

19.53

0.31

-1.19

2%

-5%

118.62

0.58

0.66

0.47

0.44

29.96

27.74

29%

23% 8%

255

Indoworth India Ltd.

Wool yarn

256

Trigger Apparels Ltd.

Apparels (Readymade garment)

257

L S Mills Ltd.

Cotton yarn

104.58

258

Cheslind Textiles Ltd.

Cotton yarn

124.73

99.69

0.71

0.82

0.85

0.77

15.44

7.59

12%

259

Sri Lakshmi Saraswathi Textiles (Arni) Ltd.

Cotton yarn

77.36

68.08

0.73

0.85

1.93

1.95

11.14

3.17

14%

5%

260

Shri Renuga Textiles Ltd.

Cotton yarn

134.5

208.61

0.77

0.67

1.18

0.70

26.41

26.56

20%

13% 24%

261

Silktex Ltd.

Silk fabrics, processed

32.32

27.53

0.64

0.51

0.89

0.54

8.83

6.66

27%

262

Santosh Fine-Fab Ltd.

Cloth (Fabrics)

26.6

26.17

0.84

0.80

5.69

5.97

1.31

1.43

5%

5%

263

Abhishek Corporation Ltd.

Cotton yarn

81.44

69.64

0.66

0.49

0.67

0.14

34.24

14.85

42%

21% 14%

264

Rajvir Industries Ltd.

Cotton yarn

165.9

191.35

0.89

0.83

1.32

0.98

26.43

27.67

16%

265

Soma Textiles & Inds. Ltd.

Cotton & blended yarn

196.31

199.44

0.82

0.79

1.11

1.00

30.11

13

15%

7%

266

Mafatlal Denim Ltd.

Denim

81.39

77.77

0.65

0.90

0.55

0.62

9

-8.68

11%

-11% 21%

267

Page Industries Ltd.

Apparels (Readymade garment)

137.27

195.6

0.61

0.56

3.35

2.49

29.46

41.16

21%

268

K G Denim Ltd.

Cloth (Fabrics)

215.73

220.55

0.59

0.53

0.91

0.88

17.09

18.54

8%

8%

269

Vijayeswari Textiles Ltd.

Cotton yarn

149.08

141.92

0.56

0.55

1.30

0.81

29.12

31.52

20%

22% -10%

270

Ashima Ltd.

Cloth (Fabrics)

236.34

223.33

0.70

0.71

0.58

0.63

-2.12

-23.28

-1%

271

Indus League Clothing Ltd.

Apparels (Readymade garment)

95.08

175.87

0.65

0.93

7.56

7.14

-1.66

10.7

-2%

6%

272

Pal Synthetics Ltd.

Cloth (Fabrics)

20.26

19.67

0.67

0.81

14.05

14.29

1.12

0.36

6%

2%

273

Prime Textiles Ltd.

Cotton yarn

117.06

106.45

0.76

0.60

1.34

1.05

9.76

8.13

8%

8%

274

Eurotex Industries & Exports Ltd.

Cotton yarn

165.09

139.94

0.78

0.78

1.00

0.89

20.24

13.12

12%

9%

275

Sree Satyanarayana Spg. Mills Ltd.

Cotton yarn

24.04

23.92

0.71

0.67

8.68

8.72

2.82

-0.73

12%

-3% 19%

276

Sundaram Textiles Ltd.

Cotton yarn

39.86

34.41

0.70

0.70

0.84

0.72

7.94

6.68

20%

277

Tamilnadu Jai Bharath Mills Ltd.

Cotton yarn

59.55

59.72

0.81

0.77

1.43

0.94

8.69

3.91

15%

7%

278

Himachal Fibres Ltd.

Cotton yarn

2.85

37.14

1.16

0.98

0.28

1.83

28.17

5

988%

13%

279

Winsome yarns Ltd.

Cotton yarn

128.46

186.37

0.70

0.72

0.47

0.49

27.17

39.67

21%

21%

280

Ashima Dyecot Ltd.

Cloth processed

121.25

126.17

0.71

0.72

0.77

1.06

2.42

-44.86

2%

-36%

281

Digjam Ltd.

Wool & woollen textiles

111.16

112.61

0.67

0.67

0.90

1.00

-6.69

6.67

-6%

6%

282

Uniworth Textiles Ltd.

Wool & woollen textiles

37.06

31.51

0.82

0.88

1.17

1.18

-1.43

-4.27

-4%

-14%

283

B S L Ltd.

Woven blended fabrics of synthetic staple

139.74

120.87

0.45

0.44

0.65

0.59

16.31

11.95

12%

10%

284

A I Champdany Inds. Ltd.

Jute yarn

245.5

272.6

0.75

0.86

1.84

2.30

17.09

16.28

7%

6%

285

Shri Dinesh Mills Ltd.

Woven fabrics of wool

74.98

79.96

0.42

0.47

0.73

0.91

20.11

17.71

27%

22%

286

Sri Nachammai Cotton Mills Ltd.

Cotton yarn

88.14

59.3

0.69

0.95

3.09

2.74

6.84

2.05

8%

3%

287

Samtex Fashions Ltd.

Men's suits, trousers, etc. knitted or crocheted

67.24

65.52

0.97

0.80

2.03

1.89

4.26

4.66

6%

7%

288

Hanil Era Textiles Ltd.

Acrylic filament yarn (AFY)

79.89

63.87

0.84

0.84

0.44

0.37

16

-3.34

20%

-5%

0.65

1.68

1.89

19.32

19.47

22%

18%

tYres, tuBes AnD ruBBer ProDucts 1

Gujarat Reclaim & Rubber Products Ltd.

Reclaimed rubber

86.66

110.83

0.64

2

Tirupati Foam Ltd.

Rubber foam

43.08

46.99

0.88

0.77

6.13

5.81

3.21

5.35

7%

11%

3

Bliss G V S Pharma Ltd.

Sheath contraceptives

57.6

99.92

0.48

0.44

1.77

2.99

9.37

43.56

16%

44%

4

Apcotex Industries Ltd.

Synthetic rubber

80.47

105.18

0.81

0.77

3.06

3.98

2.93

9.09

4%

9%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

142

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

37.51

46.13

33.02

74.7

58.86

54.09

93.93

128.77

40

33.37

483.8 484.8

9.56

7.67

60.14

67.35

102.61

68.91

9.64

9.77

17.06

22.34

20.53

27.68

58.84

100.6

67.3

60.89

40.61

50.03

15.07

18.39

487.4

11.96

12.05

46.2

39.22

129.66

115.62

11.97

9.18

36.62

45.64

487.4

27.22

57.75

76.29

36.21

31.26

28.17

28.01

21.01

27.12

489.1

28.47

28.67

37.65

36.1

120.59

110.47

16.12

9.42

39.79

58.99

490.5

9.44

10.43

146.09

102.99

484.57

427.93

10.36

10.93

16.21

15.83

490.7

NA

201.98

278.91

391.47

NA

33.38

NA

25.6

NA

46.97

491.1

73.75

70.06

183.43

189.9

31.8

43.85

92.09

86.1

46.63

51.03

493.1

NA

29.11

134.26

152.87

NA

272.07

NA

19.18

NA

12

493.2

24.73

43.26

50.28

40.87

127.13

112.93

13.74

12.7

20.86

33.41

495.4

23.56

39.56

19.51

35.83

137.87

103.85

15.91

13.59

23.18

37.1

495.6

95.77

66.47

89.66

51.85

123.52

95.87

41.74

35.8

52.4

39.33

497.0

60.59

67.62

24.08

38.62

53.79

77.36

129.05

203.97

70.61

84.13

498.4

76.27

86.28

68.36

63.43

81.23

68.62

54.51

50.54

51.61

58.14

500.0

67.37

130.4

86.42

145.13

119.78

260.81

85.56

32.56

17.68

25.98

501.5

29.29

28.05

61.65

74.07

74.83

78.37

10.19

11.81

18.4

37.71

504.1

28.39

36

31.41

53.26

60.59

49.97

36.75

47.65

31.16

36.51

510.2

70.31

67.46

29.76

51.68

123.5

53.9

19.06

22.46

37.68

36.65

510.3 511.6

14.77

13.45

70.07

77.67

66.56

74.37

22.54

24.83

40.93

50.76

37.29

46.54

84.67

93.26

74.32

57.33

22.04

24.38

62

60.02

511.7

103.84

136.24

80.94

85.25

52.96

87.84

140.33

191.82

44.5

67.46

512.0 512.5

21.2

23.47

55.51

57.99

43.74

41.3

18.92

17.2

43.6

40.55

63.48

101.52

63.93

121.71

23.8

45.14

31.82

46.78

33.79

78.77

513.3

133.97

130.73

111.67

106.69

75.65

68.29

68.11

74.83

40.59

41.59

515.8

20.94

18.53

84.36

111.61

109.7

78.79

13.96

8.11

72.08

82.52

517.0

11.51

15.57

32.93

42.82

188.52

172.24

8.76

10.38

31.51

38.42

523.3

17.86

22.54

37.67

48.6

124.53

125.23

55.59

42.74

18.95

29.39

524.3 533.0

39.19

61.06

59.63

68.81

272.68

301.2

18.63

27.3

29.76

40.96

47.37

51.31

40.28

55.9

216.56

207.63

10.94

14.67

35.19

41.15

537.8

43.31

21.05

843.18

106.74

323.4

67.47

10.63

12.53

528.84

57.31

538.5

33.39

56.24

132.11

139.57

155.71

112.44

19.94

26.72

37.01

38.11

538.7

11.72

11.14

74

72.96

44.14

54.6

29.08

17.04

54.36

39.45

547.2

100.06

100.1

139.13

149.06

79.81

70.87

72.29

80.77

54.57

56

549.4

648.62

722.67

716.96

872.06

50.71

33.87

307.53

283.32

55.8

62.64

551.8

70.08

91.55

60.47

68.69

105.66

175.65

52.45

64.76

49.41

63.7

552.6

28.81

28.64

71.94

78.76

102.63

98.83

17.63

12.42

68.85

78.73

556.9

33.19

32.06

126.88

109.99

155.85

138.86

90.56

87.35

40.87

37.06

558.1

28.43

35.14

58.42

67.1

131.35

164.57

9.07

14.12

26.08

39.14

560.5

39.8

37.34

139.6

69.8

82.96

102.02

16.45

24.8

63.35

71.13

564.2

21.52

23.62

128.56

146.47

92.16

79.46

102.04

116.07

31.34

30.61

641.8

47.08

56.42

32.69

35.37

21.33

23.69

1.89

1.41

9.1

10.54

24.9 25.7

68.08

74.27

11.98

5.88

22.77

16.46

12.81

12.61

4.48

5.11

84.66

128.56

158.42

138.28

19.2

72.48

0.1

1.54

1.44

8.46

27.1

75.8

56.38

25.57

32.71

22.11

20.61

6.5

6.58

9.52

6.95

28.2

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

textiles

28.65

source: CMIE Prowess database

industry 2.0

- technology management for decision-makers | february 28, 2010

143


supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

Precision Seals Mfg. Ltd.

Rubber & rubber products

14.7

22.7

0.59

0.45

0.78

0.89

7.85

8.99

53%

40%

6

Hi-Tech Elastomers Ltd.

Articles of vulcanised rubber

14.24

14.55

0.72

0.64

3.68

3.08

1.41

1.52

10%

10%

7

Cupid Ltd.

Rubber contraceptives, males

18.81

24.44

0.49

0.44

0.67

0.57

4.7

4.45

25%

18%

8

Tega Industries Ltd.

Rubber & rubber products

95.49

124.19

0.44

0.47

2.41

2.50

21.93

34.03

23%

27%

5

9

Fenner (India) Ltd.

V belt

229.9

253.12

0.59

0.58

1.24

1.14

58.51

59.11

25%

23%

10

Indag Rubber Ltd.

Retreaded & other tyres

61.19

73.99

0.80

0.82

3.65

4.33

7.8

12.1

13%

16%

11

Govind Rubber Ltd.

Cycle tyres

243.73

250.73

0.80

0.82

7.12

7.12

15.28

16.33

6%

7% 20%

12

Multibase India Ltd.

Rubbers

21.31

28.98

0.67

0.74

3.14

4.96

4.74

5.84

22%

13

J K Ansell Ltd.

Rubber contraceptives, males

64.19

69.53

0.60

0.56

4.42

4.76

9.59

12.1

15%

17%

14

T T K-L I G Ltd.

Rubber contraceptives, males

203.34

226.82

0.50

0.57

3.90

2.95

35.35

41.22

17%

18%

15

Krypton Industries Ltd.

Cycle tyres

11.12

17.58

0.68

0.68

1.17

1.65

3.22

3.31

29%

19%

16

Mahalaxmi Rubtech Ltd.

Rubber & rubber products

9.89

17.16

0.73

0.76

0.68

0.89

2.25

3.93

23%

23%

17

Somi Conveyor Beltings Ltd.

Conveyor belting

15.42

15.86

0.77

0.94

0.98

0.62

2.73

3.24

18%

20%

18

Vamshi Rubber Ltd.

Rubber & rubber products

35.78

40.63

0.95

0.87

4.44

3.67

1.87

3.84

5%

9%

19

Rubber Products Ltd.

Rubber & rubber products

21.72

16.04

0.53

0.58

1.71

1.50

0.95

0

4%

0%

20

Medtech Products Ltd.

Sheath contraceptives

16.79

20.29

0.71

0.97

0.65

1.10

82.27

-0.89

490%

-4%

21

Soni Rubber Products Ltd.

Hoses, tubes & pipes of vulcanised rubber

12.18

14.84

0.76

0.69

2.37

2.55

1.36

1.64

11%

11%

22

Inarco Ltd.

Aprons

36.35

36.66

0.53

0.65

6.66

7.01

2.62

4.57

7%

12%

23

Pregna International Ltd.

Rubber contraceptives, females

12.55

12.43

0.45

0.43

2.66

2.02

1.22

1.41

10%

11% 16%

24

Pix Transmissions Ltd.

V belt

130.18

151.57

0.69

0.68

0.92

0.91

20.11

24.26

15%

25

Puneet Resins Ltd.

Rubber & rubber products

9.05

12.42

1.02

0.87

3.58

4.43

0.72

1.38

8%

11%

26

Bengal Waterproof Ltd.

Hygeine & pharmaceutical rubber products

50.08

53.73

0.64

0.64

3.28

3.14

5.37

6.72

11%

13% 21%

27

Elgi Rubber Co. Ltd.

Tyre treads

143.8

51.98

0.69

0.59

2.61

1.43

16.63

10.8

12%

28

Dunlop India Ltd.

Tyres

5.31

121.21

0.46

0.93

0.00

0.09

494.44

6.13

9311%

5%

29

Polar Pharma India Ltd.

Sheath contraceptives

19.36

26.33

0.90

0.33

0.56

0.30

-5.86

0.43

-30%

2%

wires AnD cABles 1

Pawan Power & Telecom Ltd.

Cables & other conductors

29.25

23.54

0.93

0.92

25.97

23.75

1.79

1.47

6%

6%

2

Ram Ratna Wires Ltd.

Copper winding wires

211.47

287.91

0.93

0.94

8.94

9.87

7.74

17.06

4%

6%

3

Torrent Cables Ltd. [Merged]

Cross linked polyethylene cables (XLPE)

192.04

222.31

0.77

0.70

10.58

9.15

34.27

50.3

18%

23%

4

Bhagyanagar India Ltd.

Jelly filled cables

186.82

204.98

0.70

0.76

1.53

1.97

86.95

52.44

47%

26%

5

Bharat Insulation Co. (India) Ltd.

PVC insulated cables & flexes

187.73

199.77

0.91

0.96

5.56

5.79

8.26

9.34

4%

5%

6

Cords Cable Inds. Ltd.

Wires & cables, nec

91.83

169.9

0.88

0.82

6.14

2.56

13.21

25.85

14%

15%

7

Rishabhdev Technocable Ltd.

Cables & other conductors

10.53

31.09

0.85

0.92

3.07

3.96

1.31

3.74

12%

12%

8

T V S Interconnect Systems Ltd.

Wires & cables, nec

134.28

248.41

0.93

0.87

15.87

21.74

12.18

21.54

9%

9%

9

Surana Telecom & Power Ltd.

Jelly filled cables

79.24

69.14

0.81

0.83

1.27

1.20

12.98

13.11

16%

19%

10

Vindhya Telelinks Ltd.

Jelly filled cables

54.7

214.84

0.78

0.98

1.00

4.78

6.25

9.62

11%

4%

11

Welworth Electric Co. Ltd.

Copper enamelled winding wires

18.81

19.87

1.01

1.00

5.91

6.15

0.24

0.25

1%

1%

12

Delton Cables Ltd.

Cables & other conductors

118.76

144.96

0.83

0.95

9.56

10.54

10.27

11.7

9%

8%

13

Hindusthan Vidyut Products Ltd.

Cables & other conductors

323.66

258.77

0.75

0.67

2.97

1.26

43.74

45.79

14%

18%

14

Galada Power & Telecommunication Ltd.

Cables & other conductors

108.35

39.36

0.90

0.79

3.22

1.03

0.19

-0.8

0%

-2%

15

Birla Ericsson Optical Ltd.

Cables & other conductors

56.45

131.85

0.78

0.96

1.57

4.53

3.26

6.66

6%

5%

16

Uniflex Cables Ltd.

Cross linked polyethylene cables (XLPE)

30.9

110.68

0.88

0.82

0.58

1.89

33.59

6.56

109%

6%

17

Emgee Cables & Communications Ltd.

Wires & cables, insulated

30

26.44

0.97

1.03

5.56

4.16

1.1

2.16

4%

8%

18

Central Cables Ltd.

Cables & other conductors

35.63

32

0.91

0.74

3.05

0.88

3.81

3.13

11%

10%

19

U M Cables Ltd.

Jelly filled cables

162.81

190.06

0.86

0.96

3.05

4.00

12.43

11.61

8%

6%

20

Cable Corpn. Of India Ltd.

Cables & other conductors

136.88

113.23

0.72

0.86

0.83

1.63

13.77

26.4

10%

23%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

144

february 28, 2010 | industry 2.0

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Finished Goods Holding Period (Days)

Composite Score

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

104.14

79.04

86.21

55.6

37.42

35.31

14.96

9.8

12.44

9.28

28.8 29.0

88.8

75.61

12.86

14.61

9.95

10.53

13.56

16.35

54.69

22.04

19.91

15.94

2.66

2.95

36.9

30.88

31.8

84.91

84.93

79.87

78.44

87.25

90.28

2.82

2.24

20.22

13.17

33.5

40.63

71.65

104.13

82.17

19.66

38.84

3.61

6.64

13.36

20.21

37.0

40.75

38.37

46.71

47.93

32.77

33.85

3.99

1.79

27.4

32.23

37.4

110.92

117.54

78.6

116.72

32.39

36.85

4.34

6.53

19.9

29.83

37.9

NA

82.45

34.27

32.55

NA

71.15

NA

4

NA

32.18

37.9

NA

45.81

72.34

60.29

NA

37.74

NA

16.17

NA

20.02

38.9

74.38

87.04

84.18

65.1

45.48

49.85

22.28

31.04

12.86

17.91

39.4

72.67

82.61

98.08

101.76

94.13

62.18

0.77

1.21

53.28

47.03

41.5

58.89

59.56

74.69

43.02

38.73

46.97

10.96

18.99

14.78

19.3

41.8

49.98

58.41

14.33

52.08

30.76

66.35

0.62

3.18

3.35

21.7

43.2

40.66

39.6

33.74

23.94

16.59

22.26

10.15

11.16

25.85

36.11

43.4

128.52

163.4

81.75

93.04

40.16

56.4

48.9

62.12

14.12

14.29

44.0

14.4

13.98

197.52

192.05

27.5

22.53

13.97

6.86

7.02

5.12

44.1

NA

101.15

19.62

21.21

NA

41.17

NA

31.94

NA

44.64

45.1

41.24

49.62

73.29

76.81

80.93

69.13

13.99

12.15

17.2

20.81

45.6

87.04

92.21

79.62

82.83

175.01

242.36

2.16

2.12

45.7

47.12

46.6

54.06

53.52

49.58

47.73

59.14

75.32

9.77

10.01

27.1

29.08

48.4

51.98

55.04

73.51

120.44

91.08

104.62

0.64

0.35

55.35

69.43

51.9

129.56

134.88

109.83

121.78

95.32

85.25

89.24

85.96

29.59

31.2

52.4

66.94

151.17

34.35

147.34

74.6

211.41

13.84

27

32.51

57.45

55.8

2332.09

95.02

6675.94

369.82

0

121.53

152.75

24.34

68.59

12.8

56.3

215.63

114.16

129.65

185.93

98.89

56.82

130.82

49.46

91.45

55.49

56.9

56.47

72.65

3.95

4.99

9.12

9.88

4.73

3.68

7.1

13.83

16.9

50.82

49.24

12.73

9.69

2.09

1.27

3.08

3.03

6.01

5.66

18.2

59.36

62.34

11.27

16.53

36.25

36.33

5.49

7.93

4.47

4.82

22.4

31.91

33.7

25.35

47.11

12.98

26.63

4.42

6.98

2.69

0.32

22.5

44.34

43.09

68.45

67.62

3.83

3.67

4.39

4.27

10.73

14.01

29.6

70.15

82.57

19.39

20.29

14.16

9.76

8.96

11.31

29.7

70.62

56.8

40.54

26.1

19.7

43.89

16.55

26.94

12.44

31.0

171.8

89.33

153.98

45.41

47.66

58.94

1.72

0.08

46.58

34.03

31.8 32.7

65.29

65.79

34.09

70.39

18.8

29.86

15.89

18.3

8.25

13.02

126.59

30.31

33.02

36.42

102.27

26.96

84.14

26.5

3.52

5.28

33.7

NA

260.24

263.31

271.63

NA

1.38

NA

7.6

NA

4.47

34.3

83.48

80.23

71.52

85.96

22.87

19.64

36.66

36.5

18.81

22.06

34.6

57.88

75.97

71.13

66.59

31.41

51.88

7.62

12.79

14.47

18.7

35.0

63.25

148.88

117.58

276.3

17.31

45.16

6.13

5.22

7.56

18.15

35.8 36.8

62.69

48.98

80.1

38.96

114.52

57.63

39.35

26.1

2.82

1.88

101.35

65.9

23.19

13.9

83.4

31.6

88.12

33.62

24.21

9.75

37.8

41.54

59.47

55.77

98.27

22.64

28.19

24.31

81.1

4.51

6.26

38.8

121.27

132.43

59.64

53.27

32.13

44.19

27.89

32.35

38.4

44.7

39.2

56.18

44.47

102.82

139.88

36.3

29.95

21.76

14.76

13.39

28.72

40.3

92.36

89.3

114.21

203.24

39.01

30.29

42.66

89.39

13.73

11.91

40.9

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

wires

52.43

& cABles

51.59 105.72

tYres, tuBes

118.11 30.45

& ruBBer ProDucts

107.6 59.05

source: CMIE Prowess database

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supply chain metrics CORPORATE FINANCIAL PERFORMANCE Rank

Company Name

Industrial Activity

Net Sales (Rs. Crore)

Cost of Goods Sold (as % of sales)

Fixed Assets Turnover Ratio (FATR)

PBDIT (Rs. Crore)

PBDIT/Net Sales

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

21

C M I Ltd.

Jelly filled cables

19.64

22.42

0.98

0.95

2.92

3.60

9.09

2.54

46%

11%

22

Versatile Wires Ltd.

Copper enamelled winding wires

26.72

29.63

0.90

0.90

2.73

3.18

1.05

1.06

4%

4%

23

Tamilnadu Telecommunications Ltd.

Jelly filled cables

14.68

21.93

0.94

0.93

0.73

1.23

6.07

-0.56

41%

-3%

24

G R Cables Ltd.

Jelly filled cables

24.39

10.89

0.92

0.85

1.40

0.63

3.61

0.6

15%

6%

25

Paramount Wires & Cables Ltd.

Jelly filled cables

28.86

65.08

0.47

1.00

1.66

9.63

2.26

2.45

8%

4%

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes source: CMIE Prowess database

Building Through

As in many cases in India, it is found that a 3PL service provider depends on the contract giver company for different kinds of supports to complete the assigned job, the people manning the Logistics and Supply Chain department in the manufacturing company have to be very efficient, and cooperative to them. This often helps in wiping out many weak areas of their own Supply Chain. By P. K. Chatterjee

w

e are passing through a time when in India, simultaneously a number of production sectors are showing spectacular upswing in their output, and the growing produces need proper distribution. The development trend indicates

PBiDtA = Profi t Before Interest Tax Depreciation and Amortization. Previous Year: 1st April 2006 to 31st March 2007. latest year: 1st April 2007 to 31st March 2008.

146

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- technology management for decision-makers

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small manufacturing companies WORKING CAPITAL CyCLE Debtors Days Available (Days)

Creditors Days Available (Days)

Raw Material Holding Period (Days)

WIP Holding Period (Days)

Composite Score

Finished Goods Holding Period (Days)

2007

2008

2007

2008

2007

2008

2007

2008

2007

2008

79.25

69.53

111.39

120.44

39.13

41.47

14.34

46.11

8.37

14.16

42.3

NA

35.38

51.26

59.99

NA

6.18

NA

35.57

NA

4.78

43.2

252.87

187.46

378.28

346.23

87.26

74.36

139.45

101.73

0.21

0.14

45.1

132.79

255.35

84.09

105.41

57.09

110.86

73.25

184.19

44.96

88.39

51.7

116.38

30.39

89.97

132.3

63.11

37.97

111.13

43.05

93.8

36.36

53.2

Disclaimer: while every care has been taken to ensure accuracy in compiling this data, neither the publisher nor the editor will be responsible for any omissions or errors, or be held responsible for actions taken by any person (s) in reliance upon the data herein. Errors, omissions and mistakes may be brought to the attention of the editor for rectification in future issues of the magazine.

EfficiEnt Supply chain STraTegic STaffing this pressure will further grow in 2010, owing to better efficiencies in many other production sectors. right at this juncture, apparently the mammoth responsibility goes on the shoulder of the Indian logistics & supply Chain sector, which is still not a recognized one. And the fund required for modernization of this sector is not so easily available, except for the top few companies in that sector. under this circumstances, the manufacturing industries too have to chalk out plans to make their distribution and shipment efficient, whereby the responsibility passes on to the sC & logistics in-charges of the manufacturing industries. Compared to other developed countries, Indian supply Chain system to a great extent is much more complex, and in the last (say) couple of years it has incurred further complexities – in the sense the sudden demands from not-seenearlier types of services have in one way created a service bottleneck in the sector. where many

lsPs before improving their own service capability (may be due to lack of fund, time, knowledge and many other reasons) have taken up big contracts, and ultimately at all stages are running the show with the help of the contract-giver company. This is a major cause behind their failure to procure the best-inclass of service and that is in a big way weakening the supply Chain of the manufacturing companies. Even in many big lsP companies, who have invested a lot in constructing big warehouses, modernizing tracking and communication systems, inefficient manpower foils all efforts. so, right at this stage, Indian manufacturing companies have no alternative but to continuing with giving support to the 3Pl service providers. Contextually under Indian condition, it should be remembered that the definition of the 3Pl service provider includes a variety of service providers, who may be a single man with five or less number of trucks or a multinational operator. Thus, especially outside the city limits (as many production

net sales = Total Income – Other Income - extra ordinary income – prior period income – indirect taxes www.industry20.com

plants are situated far off from the cities and towns), in making an efficient supply Chain, the responsibility of the logistics & supply Chain heads and associate staff of the user company is still very vast. so, under Indian circumstances, the multifarious role of logistics & supply Chain professionals working in producer companies is of a great significance. sometimes, for them managing the distribution system is a reason-based hardcore scientific decision making, again at other moments it is an art of handling issues through built-up relationship. Thus, manufacturing companies need to be careful and srategic about staffing the logistics & supply Chain area, as efficiency of this operation to a great extent depend on the individual’s skill. Along with analytical ability, negotiation capability and knowledge-base, a good guy here should have the inherent capacity to build up relationship. At times, relationship with partners makes the impossible easily possible. n

source: CMIE Prowess database

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Picture Courtesy: www.photos.com

facilities & operations

Enabling Innovation For New Product Development PLM provides an open digital manufacturing environment. This enables companies to maintain a clear link between manufacturing planning capabilities and product management. This open environment ensures a smooth and secured transition from planning to production by facilitating collaboration across the organization, and particularly with global manufacturing sites. Thereby, it facilitates faster development of the ready-tomarket products from the stages of their conception. by vivek marwaha

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A

ccording to a recent survey of CEOs by Accenture, twothirds of executives believe that innovation is vital to the future of their companies. However, the same survey found that only one in eight executives feels that their company excels at implementing innovative ideas. Further, a research from AMR found more than two-thirds of companies admit that their New Product Development (NPD) processes are not under control. While 48 per cent of companies surveyed have a formal NPD process in place, only 52 per cent have metrics applied to the process. In other words, they have little idea of how well they are actually performing. Thus, clearly there is a room for improvement.

- technology management for decision-makers

The fundamental areas that need to be addressed for manufacturers to create an environment that fosters sustainable, measurable innovation in new product development include: l Strategic portfolio management l Program execution management l Strategic product development l Manufacturing planning and validation

Strategic portfolio management This involves capturing the voice of the market and aligning it with the needs of the company, prioritizing the right investments and outlining key requirements to direct research and development. Leading manufacturers demonstrate a strong ability to get closer to their market needs and to generate, understand and evaluate ideas.

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However, idea management can be challenging. While it is important to encourage broad participation in the ideation process from both internal participants and external stakeholders, ideas need to be evaluated and prioritized. This creates a need for an infrastructure that can support globally distributed teams and provide appropriate security mechanisms. It should also be able to effectively manage new product/process ideas and all supporting data, making it easier to share, discuss, and route ideas for consideration by other team members and experts. Following generation, ideas need to be prioritized based on evaluation. Not all ideas are good, and even good ideas don’t guarantee success. According to PDMA, approximately 86 per cent of new product ideas never make it to market; of those that do, 50 to 70 per cent fail. Apple’s CEO Steve Jobs says that, among other practices, the seed of Apple’s innovation is ‘saying no to 1000 things,’ so as to concentrate on the ‘really important’ creations. PLM solutions play a critical role in helping companies make the right products and make them right. To address these concerns, PLM provides a collaborative framework for business decision management. This allows participants to see and understand the various influences on the company, provide their input, and sign off on investigations, proposals, justifications and business cases. Armed with pertinent information, leaders are able to make informed decisions about which offerings, platforms, products and technologies to develop. In the initial phases of any effort, requirements management provides a key capability by accurately outlining the attractiveness and cost of any new idea. When these requirements are

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linked to the business layer, they can be more directly aligned with, and connected to, the initial idea and the resulting business case. Every participant in the product lifecycle needs to know what customers want if products are to succeed. The final component of Strategic Portfolio Management is R&D and Technology Management. A recent survey of 940 executives by the Boston Consulting Group found that 51 per cent of them were dissatisfied with the financial Returns on Investment (RoI) that they are seeing from their innovations. The same research also shows that ‘there is no direct correlation between R&D spending and sales growth, earnings or shareholder returns.’ At first glance, this lack of correlation defies logic in principle. One would expect increased R&D spending to lead to more or better ideas and projects, resulting in better new products and corresponding revenue growth. AMR Research findings suggest that the problem lies in the maturity of managerial processes overseeing investment in R&D. Creating ideas and technology is one thing. Being able to leverage those in the market place is another. An article from analysts of Booz Allen Hamilton suggests that, ‘How you

spend is far more important than how much you spend.’ PLM tools, allow companies to more effectively manage the R&D process while ensuring connection both to product development, and to the wider aim of leveraging R&D knowledge in product development. By integrating R&D with product development, companies gain visibility into R&D efforts that enables them to more readily identify and align resident technology to current and future business needs.

A framework for effective NPD

Program execution management

This entails control and management of projects to better manage program and development team complexities, implement performance measurement and milestones keeping projects on track. Thus, it establishes consistent and repeatable product development stage-gate and changemanagement processes across development organizations. AMR Research discovered that while 79 per cent of companies surveyed have formal NPD processes, only 52 per cent have metrics applied to the process. What’s more? Most companies rank around one on the Six Sigma scale of quality—an indication that a process produces not

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facilities & operations

Strategic product development

150

only poor quality but also inconsistent quality. Traditionally, managers leveraged one set of systems to perform project management and another to perform program management. To make better decisions and improve their ROI, today’s program leaders are shifting focus from isolated solutions to a single integrated one that can perform multiple mission-critical product lifecycle functions to: l Reduce the enterprise’s built-in overhead l Eliminate multiple information sources that prevent people from attaining their full productivity l Synchronize the environment’s unaligned product, process and project data l Provide decision makers with immediate real-time access to program data PLM provides these capabilities in a digital environment, where executives can leverage collaborative workplaces to gain ‘big picture’ views of an enterprise’s take-to-market programs. Further, it enables companies to save, re-use and modify processes over time, so that they can not only holistically leverage standard processes (such as stage-gate) to drive development, but also improve and optimize processes over time. For coordination of group efforts, collaboration is essential between team members from various groups working on individual projects that make up a program. For effective project and resource management, PLM enables a

february 28, 2010 | industry 2.0

digital collaborative environment, which allows globally dispersed users to simultaneously view and interact with the same instantaneously updated project information, including project schedules, threaded discussions, not e-books and collaborative documents. It also supports cross-functional product management teams that extend beyond the internal organization to include representatives from widely dispersed organizations, as well as experts drawn from the company’s supply chain and business partners. In addition, PLM helps in assigning resources, financial or otherwise, against specific activities, providing a key means to ensure that those resources are most effectively deployed. It helps reduce risk by ensuring that key stakeholders have a comprehensive view into a program’s status at any point in time. Finally, program execution management concludes with launch management. Typically, a significant portion of total spending takes place during the launch phase. AMR Research estimates that the cost of goods sold (COGS) represents almost 65 per cent of total cost, and that most of this is spent during the launch.

Strategic product development

This is responsible for developing systems and technologies that embed market and customer requirements directly into product architectures. It aligns product concepts to strategic requirements that can be simulated and validated as a basis for detailed development. In order to ensure that the end product aligns with the strategic intent of the company, strategic product development needs to focus on three key areas, namely Systems engineering, Concept design–shape– layout and Digital simulation.

- technology management for decision-makers

Systems engineering: This supplements market requirements with quantifiable constraints that determine the success of take-tomarket programs in terms of cost and delivery schedules, as well as their ability to satisfy established performance, ergonomics, safety, usability, reliability, maintainability, recycling and disposal and other compliance-related metrics. It produces a structure that links requirements to system and subsystem structures, and to the product structure. Thus, it directly connects the high-level product strategy with detailed development execution. PLM provides a familiar, open collaborative environment that ensures that all contributors can participate in the design and validation process. In this way, requirements can continually be checked and validated, and perhaps more importantly, balanced. Digital product development provides product control structures that are flexible enough to embed a wide array of knowledge into their definitions. Thus, companies gain the flexibility to drive product definition with key aspects of product performance or manufacturing. Concept design, shape and layout: These are often important elements in a company’s overall innovation strategy. No matter what design strategy a company decides to focus on, to support its broader market needs or the general design situation dictated by the needs of the company and its suppliers, digital product development can support it. Digital simulation: Experimentation is often the key to bringing innovations to market faster, and simulation is definitely the key to experimentation. It can provide a means to undertake more ‘what-if’ studies and ensure a greater understanding of product and process behaviour. This

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encourages more innovation and reduces the risk of increased downstream costs. Further, by eliminating the delays that occur between design and validation, digital simulation enables informed decisions to be made fast during development phase, by ensuring analysis results are available in time to influence design and manufacturing.

Manufacturing planning and validation

This involves synchronization of product manufacturing and sourcing processes with the rest of product development, to ensure flawless product launches and smooth ramp-ups. It also validates manufacturing processes and line designs to ensure quality and compliance. At a base level, digital manufacturing lets companies capture best practices in manufacturing processes and machining operations, and apply them to new products. It also allows product development and product manufacturing to work concurrently. It then, extends these links to bring together all the critical elements of product, process, plant and resources to form the electronic Bill of Process (eBOP). The eBOP ultimately provides the high-level structure that is used to define all manufacturing processes and operations in a single repository. Being able to efficiently re-use this library for product derivations and variants is a key way of maximizing market coverage. By combining these capabilities in a single digital environment, companies gain the means for continuous improvement that is the key to supporting lean manufacturing and value stream mapping initiatives. Quality is another factor critical in the success of a product. Digital manufacturing provides

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the capabilities to simulate manufacturing and production processes prior to manufacture in order to ensure high quality and smooth flow. Further, digital simulation helps in reducing risk by ensuring process simulation results are available in time to influence the relevant decisions. Thus, it eliminates downstream costs caused by compressed schedules or last minute change orders. Launch strategies, which typically are based on anticipatory methods for demand forecasts, usually dictate how much of what should be manufactured where and when. Any failure to accurately plan and deliver—results in missed opportunities, redundant stock and significant costs.

Conclusion

Aberdeen Group’s Product Innovation Agenda benchmark determined that—companies that are best-in-class in new product development and introduction tend to share the following characteristics: l Innovation strategy is centrally controlled or coordinated l A senior manager is directly responsible for overseeing the full process l Product development and manufacture is enabled by the implementation of PLM l Measurement of innovation performance is frequent, and has visibility at the enterprise level The group also found that bestin-class companies are four times more likely to have PLM-related technology than their poorer performing competitors. Companies that are better able to meet their new product development targets also are more likely to have centralized data and product knowledge than the industry norm. For companies that want to maintain market leadership, it is not enough to implement point

solutions. An integrated, digital environment is required. PLM provides the only way for these applications to be tied together. Manufacturers can realize significant benefits from taking these steps. The findings of Aberdeen Group are corroborated by the U.S. National Institute of Standards & Technology, which outlines some belowthe-line benefits: l 30 to 70 per cent less development time l 65 to 90 per cent fewer engineering changes l 20 to 90 per cent less time to market l 200 to 600 per cent higher quality l 20 to 110 per cent higher white collar productivity

Digital simulation helps in

reducing risk by ensuring

process simulation results are available in time to influence the relevant decisions For new product development initiatives, PLM provides an opportunity to link key business efforts, such as strategic portfolio management and program execution, to operational execution in product development and manufacture—in a way that brings together development, marketing and sales. At the end of the day PLM enables companies to build a Global Innovation Network that addresses their needs while setting the stage for increased innovation, increased revenues and accelerated business growth. n Vivek Marwaha is the Director, Marketing, Siemens PLM, India.

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facilities & operations

Choosing the

Right Software Assessing the Size of an Organization

Very large and globally spread manufacturing organizations can enjoy all the inherent benefits of implementation of Product Lifecycle Management software, however, for not-so-big manufacturers Product Data Management software is a better choice, keeping in view its requirements, implementation time, cost and capability. by ravi varadarajan

P

roduct Data Management (PDM) or Product Lifecycle Management (PLM)—the question often asked is which system is best suited for your manufacturing organisation? Though, both programmes rely on a solid PDM foundation, selecting the right one from the many competing in the market is a challenge. While examining the differences between PDM and PLM, it is

While examining the

differences between PDM and PLM, it is prudent to analyse the inherent merits, though different benefits are derivable of the two 152

february 28, 2010 | industry 2.0

prudent to analyse the inherent merits, though different benefits are derivable of the two. All design engineering, product development and manufacturing organizations require an automated solution for managing, utilizing and leveraging 3D CAD design data. Selecting the most suitable PDM or PLM system, however, can be challenging for most manufacturers. Do you need a PDM system or a PLM application? Before making your decision, evaluate: What are the major differences between PDM and PLM? Is PDM necessary for your organization? What steps are required before you implement PLM? A significant amount of the confusion surrounding PDM and PLM stems from a basic mis-conception about the two technologies. Although, many manufacturers believe they have to choose between PDM and PLM, the choice is not entirely an either-

- technology management for decision-makers

or proposition. In fact, all PLM systems use some form of PDM as the underlying data foundation on which they operate. Product development organizations and manufacturing concerns should address a key question: Do we need a full-blown PLM application, or will a PDM system meet our current and future needs? The answer to this question is to first examine the primary differences between PDM and PLM systems, and then anticipate how each approach relates to the unique characteristics of your organization. While PDM focuses on managing design data as it relates to product development processes, PLM centers on reengineering product development and manufacturing processes as they relate to product lifecycles. PDM is a design-focused technology that increases efficiencies within existing product development processes by improving the management of product design

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data. PLM, on the other hand, is a strategic, process-centered approach that leverages PDM and other technologies―along with consulting services―to manage product lifecycles, remakes processes and increases output. As a result, PLM improves productivity across the connected enterprise rather than in a single department or a specific process. Determining the ideal system not only requires a thorough assessment of the goals, structure, and needs of your product development and manufacturing organizations, but also an in-depth understanding of how PDM is critical to competing successfully in today’s global marketplace. As more and more companies migrate from 2D to 3D CAD systems for their primary product development platform, PDM has become a virtual necessity for manufacturers. While the move to 3D produces many benefits, including reduced cycle time, cost savings, quality improvements and greater innovation, 3D CAD systems also create a new set of data management challenges. By becoming more productive with a 3D system, engineers are generating greater volumes of data. In addition, 3D files contain a variety of references, associations and interrelationships, which link them to other files, such as parts, drawings, bills of materials (BOMs) multiple configurations, assemblies, NC programming, and documentation. That is why engineers must have a reliable system for managing, preserving, and safeguarding these links. When numerous revisions are the norm, different engineers will work within assemblies, or more than one person will collaborate on a design. By its very nature, 3D CAD increases the volume and complexity of product design data, and requires a capable PDM applica-

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tion to prevent data corruption, file overwriting, lost file associations, and costly data errors. A PDM system can also help product developers automate workflow processes and boost productivity, resulting in faster product time-to-market, shorter development cycles, reduced development costs, and better product designs. PDM has become a critical technology for all manufacturers using 3D CAD, since some degree of overlap does exist between PDM and PLM capabilities. The decision to take the additional step to a PLM system depends on the specific characteristics of your manufacturing organization. While a PDM system may provide a complete solution for some situations, other requirements may indicate the need for a PLM solution.

Different manufacturers have different needs

While product development organizations and manufacturers of all sizes benefit from PDM technology, a PLM system is more suited to large, global manufacturing concerns rather than small and midsize manufacturers. In fact, the data management capabilities of PLM are available with a PDM system, at a substantially lower cost and with far less disruption, because PDM is a subset of PLM. Typically, a PLM solution includes PDM software or PDM functionality, as well as a range of other tools and processes, such as enterprise resource planning (ERP), supply chain management (SCM), customer relationship management (CRM) and application lifecycle management (ALM) systems. The scope and associated costs of a PLM system and the fact that PDM provides some PLM data management functionality—are the reasons why an as-

sessment of your organization is crucial in determining whether to pursue a PLM strategy. Company size is an important decision factor for PLM. Usually, only large global corporations have the resources to afford PLM and the breadth of enterprise to justify it. When considering the requirements for PLM, you should take into account the amount of gross revenues and the number of employees, CAD users and nonCAD users who need access to product design data. All these factors will impact the total cost, planning requirements, implementation time, IT infrastructure needs, degree of customization and maintenance required to support a PLM installation.

the data management

capabilities of PLM are available with a PDM system, at a substantially lower cost and with far less disruption Furthermore, you should assess whether your company is effectively leveraging product design data to automate development processes, and if potential exists for improving future efficiency. If you find that your company is not efficiently managing product design data, PDM might be a more practical first step before fully committing to a PLM application. To determine if the potential benefits of PLM outweigh the cost, consider these questions: Do you want to maximize efficiencies within existing processes, or are you more open to reengineering your entire enterprise? Do you

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facilities & operations see any existing opportunities for process reengineering? Is your enterprise large enough to benefit from PLM? Your answers can help you decide whether to begin with PDM tools before making the more sizable and resource-heavy commitment to a PLM system.

PDM—the first step for mainstream manufacturers

Even though some large, global corporations have enjoyed success with PLM implementations, the vast majority of mainstream manufacturers—primarily small and midsize companies—simply cannot afford and are not ready

By3Dusing CAD data

in conjunction with a PDM solution, you can improve fundamental product design and engineering processes that support automated

manufacturing

for PLM. These companies will benefit more quickly and substantially from a PDM system. Given the accelerating migration from 2D to 3D CAD, PDM meets a manufacturer’s most pressing design data technology needs. Before you can leverage product design data for PLM purposes, you must be able to find, configure and manage it—functionality that a PDM system provides. Implementing a PDM system is a more manageable, affordable step for mainstream manufacturers. By using 3D CAD data in conjunction with a PDM solution, you can improve fundamental product design and engineering processes that support automated

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manufacturing, while increasing productivity at each stage of your existing development process. In addition to costing much less than PLM applications, PDM systems are faster and easier to implement. Manufacturers can implement some PDM systems in a single day or over a long weekend, while others can take several days. Unless customization services are required, any consulting fees associated with the implementation are typically minimal. Conversely, PLM solutions can take months and even years to implement and generally require lengthy, expensive consulting engagements. Mainstream manufacturers can accelerate their return on investment (RoI) by first acquiring a PDM solution to get their product design data in order. Training requirements for PDM systems are generally less demanding than PLM systems, both in terms of training length and the number of employees involved. With a PDM solution, system administration is also simpler and less labour-intensive. Make sure your PDM solution is scalable, and inquire about its compatibility and interoperability with ERP and PLM systems.

PDM sets the foundation for future PLM

By making PDM your first step, you will set a solid data foundation. As your company grows, you can build upon it with a PLM system, if needed. Most of the manufacturers that have realized success with PLM are global enterprises with multiple locations, large organizations, and replicable product data. PLM has helped them optimize processes across markets and countries through the reuse of design data, product components, tooling, logistics and scheduling. Developing and manufacturing a new car

- technology management for decision-makers

model in another market using the same chassis and tooling from a previous car design is one example of how a company can use a PLM system to leverage its PDM foundation. By implementing a PDM system, mainstream manufacturers can realize many PLM system benefits almost immediately, and still they have the option to grow into a PLM system later. In addition to providing secure management and control of product design data, PDM systems can manage workflows, streamline operations, drive innovation, increase overall effectiveness, integrate certain systems and accelerate time-to-market. A PDM solution can also facilitate design reuse. PDM not only enables manufacturers to classify, organize and group design information for fast search and retrieval, but also to establish an automated process for channeling design data throughout the product development process. In addition, a PDM system can automatically capture a complete, accurate and detailed audit trail—from start to finish—for every product, assembly and component that your product development organization creates. If you decide to adopt a PLM strategy, your company will need a solid PDM foundation to leverage product lifecycle information at the enterprise level. For many mainstream companies, a full-blown PLM solution is simply beyond their reach, in terms of both the resources required for implementation and the size of the enterprise it can benefit. PLM will have broader application as technology advances, making the process simpler, faster and more affordable. By implementing a PDM system, you can realize the efficiencies of effective data management today, while laying the groundwork for

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a potential PLM deployment in the future. As the migration from 2D to 3D CAD systems continues to accelerate, manufacturing organizations need automated solutions for managing, utilizing, and leveraging 3D CAD design data. Unlike flat, distinct 2D data, 3D files contain a variety of references, associations and interrelationships that link them to other files, such as parts, drawings, bills of materials (BOMs), multiple configurations, assemblies, NC programming and documentation. In the 3D world, engineers need a system for managing, preserving and safeguarding these links to prevent data corruption, file overwriting, lost file associations and costly data errors. A PDM system can help product developers automate workflow processes and boost productivity, resulting in faster product time-

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to-market, shorter development cycles, reduced development costs and better product designs. Today’s design engineering, product development and manufacturing organizations face the challenge of determining whether to implement a PDM solution or a full-blown PLM system. For the vast majority of mainstream manufacturers—primarily small and midsize companies— PDM is the fastest, most affordable and most realistic choice. A design-focused technology, PDM increases efficiency within existing product development processes by improving the management of product design data. A full-blown PLM system is more suitable for large, global enterprises with multiple locations, large organizations, and replicable product data. PLM is a strategic, process-focused approach that leverages PDM and

Examine the primary differences

between PDM and PLM systems, and then anticipate how each approach relates to the unique characteristics of your organization other technologies to manage product lifecycles, while improving productivity throughout the connected enterprise. Typically, PLM systems are more expensive, take longer time to implement, and require greater levels of consulting services. n Ravi Varadarajan is the Technical Manager - India & SAARC, Dassault Systèmes SolidWorks Corp.

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facilities & operations

Perfecting the Art of

Design Engineering Physical testing of any engineering part is often destructive, and it leaves no clue to the cause of failure. Moreover, it is a costly and time consuming affair. Design Validation tools can indicate the weaknesses in the proposed design at the design stage only. Thus for manufacturers, it is the most economic and fastest testing tool to proceed with the design of a new product.

Design validation of automotive subsystems

by natarajan r

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utomotive Industry is constantly looking at ways and means of reducing costs and staying profitable while delivering on time. Common denominator in all these challenges is design. Companies investing in developing indigenous design technologies, emerge successful in the world market and are able to sustain and innovate at a higher pace than the rest of the competitors. This is possible on account of the following capabilities: l Delivering products faster with up-front Engineering Design Validation as a part of the product development process while compressing the cycle time l Lean Design by incorporating Value Engineering as a part of the design process ensuring evaluation of least cost alternatives before even the first prototype is developed l Increasing Reliability by Design—an initiative that will eliminate hidden costs associated with product recall, re-design and/ or replacement of parts

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‘Valuefacture’ of a product ensures product acceptance by customer while assuring improvement in bottomline profitability. Companies that have identified Design Engineering as a profit centre have continued to invest in tools and technologies that augment Design Validation with assured return on investment.

Challenges Faced by the Automotive Industry

Increasing functional complexity, predatory pricing, compulsive cost reduction commitments, aggressive deadlines, field failures, warranty costs, product recalls are too familiar situations in the automotive sector. Almost all automotive tier I and II suppliers and their vendors share these common issues. All cross-functional teams in every organization deal with one thing in common – drawings. A reflection of perfection in design, drawings affect the profitability of any organization. Perfection in design is achieved only by validating the design concept, and continuously refining the design to enhance value and performance.

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Imagine what a 10 per cent weight reduction can do to a company’s bottomline profitability. Add to it 10 per cent higher efficiency than a competitive product or technology, the company’s Unique Selling Proposition (USP) just got stronger. Now, choose alternate cost-effective material, the company has just got the winning combination it needed. All this is possible if the design department is given Cost Reduction Targets and Performance Enhancement Targets— initiatives that will go a long way in increasing the gap between the company and its competitors. Such targets are achievable only by Design Validation.

Addressing breakage with warranty period

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What Is Design Validation?

Ensuring the design meets the fit, form and functional requirements specified in the statement of requirement for a product, by means of analytical and / or physical testing, is commonly referred to as Design Validation. Analytical methods include Finite Element Analysis (FEA), Computational Fluid Dynamics (CFD), Kinematic Analysis of Mechanisms and Tolerance Stack up Analysis. Physical testing includes deflection measurements, strain gauging, tri-axial vibration testing, measuring fluid flow parameters, temperature measurement, accelerated durability testing, on-road vehicle testing, four-post vehicle testing, frequency response measurements, hot-chamber and cold-chamber testing among others. For physical testing, a set of prototypes (preferred minimum number is eight) conforming to dimensional specifications are necessary. For analytical testing a three-dimensional CAD model of the design is sufficient.

Why Design Validation?

Imagine a situation wherein a product needs to be tested for triaxial vibration response to meet functional requirements. After building a set of acceptable prototypes, the assemblies are tested individually on a shaker table, one direction at a time. At the end of the test, that could last anywhere between a few hours to a few days, if failures are witnessed then design changes need to be effected. What caused the failure in the first place? At the end of the physical testing, one is left with only a failed prototype, and not a solution. Add to this the predicament to deliver on time, tool change, cost implications, loss of confidence and above all, customer trust, we have a complex challenge of monstrous proportions.

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On the contrary, if the design team had been able to validate the design using analytical methods, evaluate alternatives that are cost-effective and predict the failure modes and ensure fatigue analysis yielded higher cycles than test requirements, the first prototypes would have passed the test, leading to a win-win situation for the company and its customer. Every organization needs to give the best to the customer. Every employee needs to give the best to the organization. Design team has to deliver the best products. This is possible only by constant innovation and design validation. Basic objectives of any organization in terms of critical business issues are met by Design Validation. Answers to any of the following questions, in affirmative, would emphasize the need for Design Validation as a part of the design process. l Is profitability under threat from predatory pricing? l Have we developed the best-inclass cost-effective product? l Is technology important for the product to survive? l Is there a necessity to improve the product’s performance? l Is cost reduction a mandatory requirement?

Functional Design Validation for Automotive Components and Systems

Stiffness and deflection analyses: Stiffness of automotive parts is vital to meet performance criteria, especially in parts such as brackets, mounts, body structure components, machined castings among others. Stiffness studies find immediate relevance in following areas: l Anti-vibration mount design l Suspension attachment to body structure l Instrument panel support structure

l Brackets used in mounting sub-systems such as water pump, oil pump, radiator, cross-member re-inforcements, steering attachment among others l Machining of casings—to maintain tolerance of straightness, flatness, location and orientation l Tyre deflection due to inflation and loading—for ride comfort and force transmissibility studies

Gear box casing stress analysis

Frequency and buckling analyses: It is a well known fact that resonant conditions reduce life of components. Systems designed for limit loads in axially-loaded members need to have buckling calculations done to ascertain safety and reliability. Some of the benefits of Frequency and Buckling Analyses for automotive systems include: l Natural frequency calculations for body structures, mounts, support brackets, rotating components including fans, transmission elements, power-train among others l Limit load calculations using linearized buckling analysis for steering systems, suspension components, engine components, brackets and body structure sub-systems Frequency calculations are a pre-requisite for performing response estimations based on harmonic and random excitations.

Durability and fatigue analyses: (say) A vehicle is tested on a four-post shaker system using

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facilities & operations tion approach first by extracting required number of design modes and then performing a post-dynamic analysis for computing the response characteristics. The advantage of digital simulation is enhanced by performing a combination of ‘what-if’ scenarios that is generally unavailable in test rigs unless an expensive investment is made for special purpose testing equipment.

Electronics cooling road-loads as input. At the end of testing, components are found to have failed. Since loads transmitted to the failed components would not be known, re-design to overcome the failure is a daunting task.Asy stemlev elan alysisw ith fatigue calculations would throw light into vulnerable areas in the system and help address the failure issues. This is a powerful approach to solve such issues, in addition to predicting possible modes of failure. Components are subjected to cyclical load testing on test rigs to ensure required number of cycles are completed without evidence of failure. This requirement can be easily tested on a digital prototye virtually to ascertain zones of failure, cycles to failure and modes of failure. When this exercise is carried out at the design stage, it is possible to evaluate alternate designs to arrive at least cost designs for higher profitability.

Vibration and dynamic analyses: Accelerated durability testing is conducted by placing automotive sub-systems on shaker tables, and subjecting the same to varying base excitations such as fixed-amplitude sinesweep or random excitations. Life is consumed in these tests rapidly leading to a failure. If no failures are evident after a stipulated duration, the component(s) are said to have passed the criteria. This can be easily verified on digital designs using simula-

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Thermal and fluid flow analyses: Estimation of temperature, pressure, velocity among other parameters can be computed using CFD in combination with FEA for thermal deformation and effect of pressure on structural side. Be it electronic thermal management of engine control systems, climate control devices, radiator circuit, fan studies, brake rotor cooling, hot-and-coldchamber testing, simulation has come a long way in addressing critical performance challenges and optimization of design. Several correlations between test and analysis data have revealed the powerful technological advantage a manufacturer enjoys by implementing these solutions effectively. CFD is very useful to estimate characteristics of water pump, oil pump, fuel delivery devices and systems among other sub-systems. Non-linear analysis: Critical sealing systems, light weight composites, manufacturing process

simulations require sophisticated non-linear analytical treatment. Effectiveness of sealing systems under assembled conditions involving initial deformation can be found using non-linear simulation analysis. Large deformation analysis and large displacement analysis ensure that product safety and performance are not affected during function. Seals, gaskets, bellows, hoses, weather beading, tyre inflation and loading are some of the areas that non-linear analysis finds application in the automotive sector. Kinematic analysis: Mechanisms find use in automotive industry extensively. Door closure, windows, accelerator, braking, fuel-trap-door opening, transmission gear selection, hood/ deck-lid opening, seat actuation are some of the areas where kinematic analysis is important— to ensure fail-safe actuation and performance. Forces calculated using kinematic analysis will be used in FEA to estimate stresses and deflections.

Conclusion

Design Validation, integrated as a part of the design process ensures that automotive products and systems produced are sustainable in the long run, in terms of: l Technological ownership l Cost-effective product development l Increased reliability and quality Additional benefits from sustainable designs include conservation of material, resources and energy. Thus, Design Validation definitely leads to Least Cost Designs, which is the need of the hour. n Natarajan R is the Director of EGS Computers India, Chennai. The company provides solutions in the areas of product design,

Velocity profile plot of water pump

- technology management for decision-makers

validation and engineering simulation.

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management & strategy

More than twenty per cent reduction in carbon emission intensity by 2020 is possible for India. A comprehensive National Action Plan on Climate Change has been drawn including eight National Missions focusing on potential development areas to mitigate carbon emission. by kalpana palkhiwala

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he recently concluded Second Ministerial Meeting of Environment Ministers from Brazil, India, China and South Africa— BRIC called for an early flow of the pledged $10 billion in 2010 with focus on the least developed countries, small island developing states and African countries—as proof of the commitment from the developed nations to urgently address the global challenge of climate change. The group of four major emerging economies—Brazil, South Africa, India and China—expressed their intention to communication information on their voluntary mitigation actions to the United Nations Framework Convention on Climate Change (UNFCCC). This decision was taken at the second ministerial-level meeting of the basic group of countries. The basic members have already announced a series of voluntary mitigation actions for 2020, with India declaring to reduce its greenhouse gas emission

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Picture Courtesy: www.photos.com

Mitigating Climate Change Through National Effort

intensity up to 25 per cent. The UNFCCC had asked the countries to convey by January 31 their stand on the legally non-binding Copenhagen Accord arrived at in the Danish capital. The 15th Conference of the Parties (CoP 15) of the UNFCCC concluded in Copenhagen on 18 th December, 2009. At Cop 13 in Bali in December, 2007, the UNFCCC parties had decided to initiate a process to enhance the implementation of the convention through Long- term Co-operative Agreement (LCA) as outlined in the Bali Action Plan (BAP) and also agreed on the developed country emission reductions commitment in the next commitment period (beyond 2012) of the Kyoto Protocol (KP). The BAP addressed, inter alia, the mitigation commitment of Developed Countries Parties, adaptation actions, financing, technology and capacity- building support

for these countries. Two Adhoc Working Groups (one for the LCA and one for the KP) had also been set up by the parties to UNFCCC, and the Kyoto Protocol with a mandate to negotiate and reach an agreed outcome on the issues at CoP at Copenhagen.

Fossil fueled power stations are major emitters of greenhouse gases.

Copenhagen conference

At the Copenhagen conference, the negotiation in the two tracks—BAP and the KP were to be concluded and outcomes were to be reached. However, in course of negotiations over the past two years, large differences between parties were noticed on many of the major issues, particularly those relating to mitigation and finance for climate change. In Copenhagen, movement on some of the issues was visible e.g., technology, adaptations and Reducing Emissions through Deforestation and Degradation plus (REDD plus). However, the differ-

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Picture Courtesy: www.photos.com

management & strategy

A looseened flat mass of ice is floating on sea because of climate change.

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ences in the negotiating positions of the parties on other aspects persisted. As a result, the parties could not conclude the talks, and have decided to continue with the ongoing negotiations in the two Ad Hoc Working Groups (AWGs) till CoP 16 scheduled at Mexico from Nov 29 to Dec 10, 2010. While engaging constructively with the international community on the issue, India has also pursued a strong domestic agenda for addressing climate change. Measures to decrease global temperature, quantified economy-wide emission reduction targets, mitigation actions through afforestation are few of the key features of this conference. India recognizes that a strategy for addressing climate change has to be based on the strategy of sustainable development. This is reflected in many of the major programmes addressing climate variability concerns. Current government expenditure in India on adaptation to climate variability exceeds 2.6 per cent of the GDP, with agriculture, water resources, health and sanitation, forests, coastal zone infrastructure and extreme events, being specific areas of concern. As a part of its international obligations under the UNFCCC,

february 28, 2010 | industry 2.0

India prepares periodically the National Communication (NATCOM), which gives an inventory of the Green House Gases (GHGs) emissions in India, assesses the vulnerability, impacts, and makes appropriate recommendations regarding social, economic and technology measures for addressing climate change. First NATCOM was presented in 2004. The government is engaged in preparing NATCOM II, which will be presented to the UNFCCC in 2011. Preparation of NATCOM II is an exercise—based on an extensive network of research and scientific insertions in India, and draws upon expertise and excellence from different institutions. An expert committee set up by the government has studied (2008) the impact of anthropogenic climate change on India. The committee has come out with its first set of findings and the research agenda—that the ministries need to follow and implant in order to address India’s vulnerability to anthropogenic climate change impacts. India has prepared a comprehensive National Action Plan on Climate Change (NAPCC), with a view to achieving sustainable development with co-benefit in terms of climate change. Eight

- technology management for decision-makers

National Missions in the areas of solar energy, enhanced energy efficiency, sustainable agriculture, sustainable habitat, water, Himalayan eco-system, increasing the forest cover and strategic knowledge for climate change form the core of NAPCC. Besides, there are several initiatives envisaged in the sectors pertaining to energy generations transport, renewable, disaster management and capacity building that are to be integrated with the development plans of the ministries. The Prime Minister’s Council on Climate Change (PMCCC), set up in June, 2007 monitors the preparation of the National Missions, coordination and implementation of climate change related actions in India. India’s Five Year Plans include a strategy for sustainable growth resulting in low carbon sustainable development. Eleventh Five Year Plan includes an indicative target of increasing energy efficiency by 20 per cent by 2016-17. The National Mission on Enhanced Energy Efficiency (NMEEE) implemented by the Ministry of Power (MoP) through the Bureau of Energy Efficiency (BEE) seeks to pursue this goal. Planning Commission estimates suggest that India’s emission intensity has declined by 17.6 per cent between 1990 and 2005, and a 20 to 25 per cent reduction in emission intensity between 2005 and 2020 is possible. However, this will require the necessary actions in specific sectors, which should be undertaken to reduce emission intensity with necessary provisions of financial and technological resources—including the domestic and international support for achieving low carbon sustainable development. n Kalpana Palkhiwala is the Deputy Director, Press Information Bureau, Government of India.

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product update Charge Converter

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olumbia Research Laboratories has launched in-line charge converters, viz., series 5810 and series 5812, to convert the charge signal from a high impedance piezoelectric sensor into a voltage signal with a low impedance output. The products help eliminate the need for amplifiers in many applications. The units feature two-wire configurations and a choice of three gain ranges. The fixed factory settings comprise 0.1, 1.0 and 10.0 mV/ pC. The series 5812 contains three active signal channels with

Diaphragm Pump three individual 4 mA current sources powered from a common external standard DC power supply. Series 5810 in-line charge converters provide a wide frequency response in a rugged small package. The units are suitable for applications where a low impedance sensor cannot withstand high temperature environments due to limitations of its internal electronics. Columbia Research Laboratories Tel: +1-800-8138471 E-mail: mbailey@crlsensors.com Website: www.columbiaresearchlab.com

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he ARO Fluid Technologies business of Ingersoll Rand Industrial Technologies has launched a new line of air-operated diaphragm pumps. The new product, viz., the Pit Boss pump, has been developed particularly for mining, construction, sump and other operations. The pumps are available in three port sizes, viz., 11/2”, 2” and 3”. The product provides flow rates of 217 gpm (824 lpm) to handle the most demanding jobs. The machine keeps foreign particles out of pump to eliminate failure

related to pumping debris. The pumps include optimized flow passages, which enable transfer of fluids with particles up to 1” (25.4 mm) in diameter. Ingersoll-Rand Tel: +1-732-6527000 Website: www.ingersollrand.com

Turbine Flowmeters

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OX Instruments has launched turbine flowmeters with ceramic ball bearings. The new product is suitable for water and cryogenic applications. The units are also suitable for high-temperature applications, with temperature limits of 425°C (800°F). The products have a low coefficient of friction and offer wear-resistant characteristics. They include helical rotors with a 2-3 millisecond response and a single-bearing low-friction design, which allows the meter to be mechanically linear over a wide flow range. Besides, the product also includes COX’s advanced signal conditioning technology and flow computers. The products are available with calibrations in various fluids and viscosity blends.

Solar PV Panel

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aaree Energies has launched crystalline solar PV modules suitable for use with lantern, solar inverters, solar street lights, home lights, power packs and grid con-

nected solar power plants. The panels are compact in size and are made from high efficiency cells. The product range comprises on-grid as well as offgrid systems. The products are certified by IEC 61215, IEC 61730-2 CE, TUV, STQC and are UL1703 compliant. Waaree Energies Tel: +91-22-6696 3030 E-mail: infosolar@waaree.com Website: www.waareeenergies.com

COX Instruments Tel: +1-480-9227446 E-mail: swusterbarth@cox-instruments.com Website: www.cox-instruments.com

Scroll Compressor

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anfoss Industries has launched the R-410A variable speed scroll compressor for commercial air conditioning and heat pumps. The new product, viz., the Apexx VSH series compressor, allows users to realize energy savings of more than 20 per cent. The product is designed to maintain high isentropic efficiency at part load by continuously matching the load by operating from 30 to 90 Hz. The balanced operation of the unit also helps reduce system stress. The power factor of the product remains above 0.90, regardless of the load. Drive controller logic ensures a soft start that reduces inrush current and adds to energy savings. The other advantages provided by the compressor include new degree of control capability, varied capacity, built-in reliability, user-definable closed-loop PID capacity controller and pack controller for hybrid units. Danfoss Industries Tel: +91-44-66501550 Website: www.danfoss.com

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Servo Motors with Encoder

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VL Industri Elektronik has launched MAC400 and MAC800 integrated servo motors with a built-in absolute, multi-turn encoder. The encoder provides a multi-turn resolution of +/- 2048 complete revolutions and a singleturn resolution of either 8000 or 8192 (via software selection) with the possibility for higher resolutions. Motors equipped with absolute encoders remember their position

industry 2.0

even if the supply voltage is interrupted, thus eliminating any reference run at re-start. Position is stored using a cogwheel so that problems due to exhausted batteries or memory that loses its information do not arise. JVL Industri Elektronik Tel: +1-45-45824440 E-mail: jvl@jvl.dk Website: www.jvl.dk

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product update Inclinometer

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herborne Sensors has introduced the LSI series of closed loop gravity referenced servo inclinometers. The new series is designed to withstand severe shock and vibration inputs for precision measurement capabilities. The product includes a flexuresupported torque balancing system, which withstands shock inputs of 1500 g and provides accuracy and repeatability over a wide operating temperature range. For more durability, sensor

Surface Finish Measuring Unit

components and associated electronics are contained within IP64 environmentally sealed housing. The units are suitable for use in civil engineering, structural monitoring, geophysical and seismic studies, machinery and structural alignment, pipeline leveling, crane safety and satellite antenna leveling applications.

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ahr Federal has introduced a new portable surface finish measuring instrument, viz., MarSurf M 300. The new product offers cable-free Bluetooth connection between drive and evaluation units. The machine provides a wide range of surface parameters conforming to ISO, ASME, JIS and other standards. The user interface ensures ease of use for operators in 15 languages. The measurement cut-off length selections between 0.08 mm and 2.5 mm can be selected by the user or automatically determined by the product based on the actual surface profile being measured. The MarSurf M 300 drive unit can be connected via wireless Bluetooth or cable. The unit can take measurements in any position.

Sherborne Sensors Tel: +44-0-870-4440728 E-mail: sales@sherbornesensors.com Website: www.sherbornesensors.com

Mahr Federal Tel: +1-401-7843100 E-mail: information@mahr.com Website: www.mahr.com

Desktop Engraver

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enetech has launched a ‘Duo’ desktop engraver, which combines laser engraving and cutting of a CO2 laser with diamond drag engraving capability of a rotary engraver into one system. The new product enables engraving on a wide variety of materials such as reflective metals, viz., aluminium, brass, silver, gold, stainless steel, plastics, wood, acrylic, leather, glass, coated metals and others. The machine fits on a desktop and comes encased in a durable monocoque design with easy access panels. Xenetech Global Tel: +1-225-7520225 E-mail: sales@xenetech.com Website: www.xenetech.com

Pressure Transducer

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ransducers Direct has launched its new TDH30 series of pressure transducers for general, high volume and low cost applications. The new product has industry standard pressure and electrical connections and can be customized as per OEM specifications. The unit, made up of higher grade 316 stainless steel for corrosion resistance, uses piezoresis-

tance technology. The product is compact and has a vacuum range up to 10,000 psi. The unit is suitable in food and beverage areas such as soda machine dispensers and for trouble-free use in mobile hydraulics found in construction and agricultural equipment. Transducers Direct Tel: +1-513-5839491 Website: www.transducersdirect.com

Tensioner

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isumi USA has introduced a new tensioner, a ready-tomount tension mechanism that eliminates design and assembly time and labour for end users. The new product (Part Number TNSR) comes as a fully assembled unit, with slotted holes and adjustment screws for easy mounting, installation and tension control. The unit’s attachment plates and tension blocks are fashioned of 1018 carbon steel, tension pins of 1045 carbon steel and the slide plates of 1045 precision cast carbon steel. The fully assembled units are available in various sizes and configurations, with selection based on application needs, such as stroke, load and tension.

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Spectrometer

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The product is suitable for use with Misumi’s chain idlers, idlers with teeth for timing belts, idlers for timing pulleys and for flat belts. Misumi USA Tel: +1-800-6817475 E-mail: pesposito@misumiusa.com Website: www.misumiusa.com

- technology management for decision-makers

BB has launched MB3600-PH FT-NIR spectrometer for the pharmaceutical and life sciences industries. The benchtop analyzer can be fitted with a variety of accessories for accurate measurements on a broad range of applications such as laboratory QA/QC analysis, raw material identification and qualification, research and development, NIR method development and at-line process analytical technologies measurements. The product’s design and metrology allows the user to operate the instrument without any scheduled maintenance for a

period of ten years. The aluminium casting provides the level of protection needed for intensive use of an analytical instrument in an industrial environment. ABB Tel: +41-0-43-3177111 Website: www.abb.com

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Battery Tester

Air Filter

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arker Balston has launched compressed air filters, which provide 99.99+ per cent contaminatefree sterile air to food processing applications. The stainless steel filters are designed for those areas in food facilities that are frequently exposed to aggressive wash down chemicals. The filters remove oil, water, rust, bacteria and other viable organisms from compressed air

and other gases. The product is available in ¼” to 1” line sizes with flow capacities to over 700 SCFM. The unit is constructed of 304 stainless steel and is in compliance with the requirements of the FDA. The product line is available with auto drains and an installed filter cartridge. Parker Hannifin Tel: +1-800-3434048 Website: www.balstonfilters.com

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lore Automotive has launched a new digital battery and system tester from Solar. The new product, viz., BA7, is designed

for 12 volt batteries. The unit features an operating range of 7 to 15 V and has the capacity to test batteries rated between 100 to 1200 CCA. The product is compatible with a wide range of battery types, including conventional, maintenance free, AGM, gel cell and marine starting batteries. The tester is small, portable and pocket-sized. Clore Automotive Tel: +1-800-3282921 Website: www.cloreautomotive.com

Venturi Vacuum Pump

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Acrylic Adhesives

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ermabond Engineering Adhesives has introduced two new structural acrylic adhesives, viz., TA4810 and TA4820, which bond a variety of metals and other substrates. The bonds are durable and provide resistance to high shear, peel and impact stresses. The adhesives resist common industrial solvents, fuels and environmental conditions. These withstand the stresses of bonding plastics to metal by absorbing the stresses of expansion and contraction of substrates with varying coefficients of thermal expansion. The two components, 1:1 mixable, methacrylatebased products are available in dual cartridge with static mixers. The thixotropic, nonsag properties facilitate easy dispensing on unlevel or vertical surfaces. Permabond Tel: +1-800-7140170 Website: www.permabond.com

Vector Network Analyzer

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gilent Technologies has introduced the N9923A FieldFox RF vector network analyzer (VNA), which provides measurement stability and QuickCal calibration capability. QuickCal enables consistent measurement results and helps eliminate the need to carry a calibration kit into the field. The analyzer is designed for field engineers working in aero-

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space, defense and network equipment manufacturing, who characterize or troubleshoot RF components for mission-critical communication systems. The product allows operators to measure and display all four S-parameters.

accon Company has launched an ultra-miniature, air-powered and compact venturi vacuum pump. The new product is designed to operate over a wide range of supply pressures. The pump is suitable for drip control (suck back) in liquid dispensing or liquid transfer applications in medical, phar pharmaceutical, food processing and assembly industries. The product weighs less than 1 oz., measures 1.25” in length and 0.56” OD. The unit provides quiet

operation and can be located close to the work source or desk top consumpfor minimal air consump tion. The product provides constant vacuum flow. The unit is designed to operate at low input pressures of 10 psi. The pumps generate vacuum levels from 5”Hg to 27” Hg with a maximum 0.45 SCFM. Vaccon Company Tel: +1-800-8488788 Website: www.vaccon.com

Freezer Validation System

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adgeTech has introduced ULT90, an ultra-low temperature freezer validation system for validation, mapping, stabilization studies and temperature surveys. The new product acts as a temperature mapping and validation solution for freezers of all sizes and configurations. The unit includes Cryo-Temp data loggers, a USB docking station, MadgeTech’s Secure FDA 21 CFR Part 11 software and IQ/OQ/PQ validation protocols. The Cryo-Temp data logger measures and records temperatures of -86°C and is splash resistant. To provide data integrity and meet the requirements of FDA 21 CFR Part 11, the secure software includes electronic signatures, access codes, a secure data file and an audit trail. For large freezers, the software graphs datasets from multiple loggers to show variances in different parts of the freezer. This helps reveal air stratification, hot spots and anomalies in chilling systems.

Agilent Technologies Tel: +1-408-3458886 E-mail: contact_us@agilent.com Website: www.agilent.com

MadgeTech Tel: +1-603-4562011 E-mail: info@madgetech.com Website: www.madgetechlifesciences.com

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product update Handheld Calibrator

Timer Ball Valve

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eller Products has launched a new programmable automatic timer for compressed air supply, which allows prescheduled untended operation of any air-driven equipment. The new timer ball valve opens and closes a compressed air line for a selected duration on a programmable schedule. The product is suitable for conserving compressed air in facilities with limited compressed air supply. The features of the unit include an easy-to-program quartz controlled timer with multiple cycles possible in each day. The unit is supplied with a 115V cord and plug and a 1 inch NPT ball valve for the compressed air. Keller Products Tel: +1-800-3528422 Website: www.kellerproducts.net

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metek Calibration Instruments has launched the new Jofra handheld pressure calibrator, which provides electrical generation of pressure or vacuum with the touch of a key. The new product features a built-in electrical pump system. The unit, viz., the HPC 600 is suitable for a wide range of high-accuracy pressure calibration applications ranging from simple tool type jobs to complex custody transfer systems.

The product is designed to work as a pressure indicator, pressure calibrator, a complete mA loop calibrator (including 24-volt supply), a voltmeter, thermometer and a pressure or vacuum generator. The unit is available as a ready-to-test system, complete with hose, fittings and soft case. Ametek US Gauge Division Tel: +1-800-5279999 E-mail: chatillon.fl-lar@ametek.com Website: www.chatillon.com

Gas Calibrator

Turret System

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uality Tool has launched a turret punch/laser system, viz., the Amada EMLK3610NT. The new equipment includes a servoelectric drive system.

The product provides high-speed, tight-tolerance punching and laser cutting along with forming capability and

automated load/unload material handling systems. The equipment is specifically designed for production of short-run and complex sheet metal parts. The machine is capable of delivering 500 HPM on 1-inch centres. The unit handles up to 8-gauge material in 10-foot sheets (8 feet without repositioning). Quality Tool Tel: +1-651-6467433 Website: www.qualitytool.com

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eneral Monitors has launched a new remote gas calibrator, viz., RGC-IR for the IR400 infrared point gas detector. The new product helps simplify the time-consuming process of performing combustible gas detector calibration tests and checks. The unit makes it easier to calibrate remote mounted infrared gas detectors. The product allows users to test and calibrate the IR400 and also the IR2100, from a distance of 100 feet (31 metres). The product does not affect sensor response, as evidenced by T50 response times of 6 - 7 seconds and T90 response times of 10 seconds. The unit is suitable for operation at maximum air velocities of 13 metres/second (30 miles/ hour). Along with the IR400 gas detector, it is suitable for applications such as drilling rigs, compressor stations and refineries. General Monitors Tel: +1-949-581-4464 E-mail: info@generalmonitors.com Website: www.generalmonitors.com

Indexing Table

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chunk has expanded its Gemotec modular system for modular assembly technology by a new pneumatically driven ring indexing table type RST-P. The new product can cycle either to the left or to the right or alternate without requiring any modifications. The RST-P offers the possibility of changing the cycle type in any order and any number of times. If an error should occur, the working process can be stopped, a few working steps can be returned and repeated. The table is designed as a modular system, and is equipped with a fixed central section with a large through hole. As only

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Moulded Case Circuit Breaker

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the cycle ring turns, it is easier to add components and assemblies, and no moveable air hoses for compressed air supply are necessary. The angular adjustment can be defined with spacers to 4, 6, 8 or 12 steps. Schunk India Tel: +91-80-40538999 E-mail: info@in.schunk.com Website: www.in.schunk.com

- technology management for decision-makers

PL has launched a current limiting moulded case circuit breaker (MCCB) TAB series with new technology for heavy duty usage. The new product is suitable for circuit protection in individual enclosures, switchboards, lighting, power panels and motor control centres. The unit is designed to be trip- free and protects systems against overload and short circuits up to 65kA with the full range of accessories.

The product is made up of BMC material, which is unbreakable and has a high dielectric strength. The unit is available in various frame sizes rated current from 10A- 800A in both fixed and adjustable magnetic settings. HPL India Tel : +91-11-23234411 E-mail: hpl@hplindia.com Website: www.hplindia.com

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Reinventing the Supply Chain  

Industry 2.0 February 2010 Issue (Volume 09, Issue 07)