Analysisof
financial statements
Despite the challenges of a slow-paced industrial sector and reduced investment
in housing due to a high interest rate regime prevalent during the majority of fiscal
2012-13, the Company recorded a higher topline, vindicating the effectiveness of
its business development strategies.
0.82
Debt equity
ratio
(March 31, 2013)
4.48
x
Interest cover
(2012-13)
32
days
Working capital
cycle
(March 31, 2013)
32.51
%
Return on networth
(avg.)
(March 31, 2013)
28.89
%
Return on capital
employed (avg.)
(March 31, 2013)
A) Profit and Loss Account
Revenue
Revenue grew 23% over the previous
year primarily due to the unfolding of a
volume-value strategy.
Volume growth:
Sales volumes
increased 15% from 39.75 MSM in
2011-12 to 45.62 MSM in 2012-13.
This increase was largely contributed
by the additional capacities of Cosa
and Vennar which commenced
operation during the year under
review. The Company’s plants at
Sikandrabad and Gailpur operated at
optimum capacity.
Value addition:
The team’s continuous
efforts in moving up the tile value-
pyramid strengthened realisation and
made an important contribution to the
Company’s growth. The contribution
from large-sized and digitally printed
tiles in ceramic and vitrified tile
segments increased this year. Besides,
the sale of double-charge polished
vitrified tiles from the Cosa unit added
to the Company’s value-addition
matrix.
23
%
Net sales growth
(
`
million)
13115
2011-12
16109
2012-13
2077
2011-12
2477
2012-13
809
2011-12
1045
2012-13
1201
2011-12
1491
2012-13
10.99
2011-12
14.20
2012-13
19
%
EBIDTA growth
(
`
million)
29
%
Profit after tax growth
(
`
million)
24
%
Cash profit growth
(
`
million)
29
%
Earning per share growth
(
`
)
Snapshot
35
