as on March 31, 2012 to
`
1,463.26
million as on March 31, 2013.
Despite an increase in operational
scale, the Company maintained a
stringent control on working capital
management, sustaining its working
capital cycle at 32 days in 2012-13. For
the working capital cycle computation,
project creditors of
`
86.50 million have
not been considered.
Current assets
Current assets stood at
`
4,196.87
million as on March 31, 2013 against
`
3,675.87 million as on March 31,
2012. This is in line with the growing
operations of the Company. As per the
new Balance Sheet format prescribed,
the balance under current assets is
reflected under the various heads
(refer Table C below). The average
current assets cycle declined from
94 days in 2011-12 to 87 days in
2012-13.
In the new format loans and advances
which are long-term in nature were
clubbed with other current assets,
in the new format it is part of non-
current assets. As per the revised
format, current assets increased 14%
over the previous year despite a 23%
increase in net sales – reflecting strong
inventory and debtor management.
Inventory:
Increased 18% from
`
1,864.84 million as on March 31,
2012 to
`
2,197.08 million as on
March 31, 2013. This increase was
a result of significantly expanded
plant operations. Notwithstanding
Debt-equity ratio
(x)
2008-09
2.01
2009-10
1.39
2010-11
1.28
2011-12
0.96
2012-13
0.82
Return on avg. net block
(%)
2008-09
21.32
2009-10
26.46
2010-11
28.52
2011-12
33.27
2012-13
35.60
Despite an increase in operational
scale, the Company maintained a
stringent control on working capital
management sustaining its working
capital cycle at 32 days in 2012-13.
Table C: Reconciliation of current assets
(
`
in million)
Note
As at March 31, 2013
As at March 31, 2012
Current assets - As per Balance Sheet (new format)
15-19
4,021.99
3,540.02
Add: Long-term loans and advances
14
174.88
135.85
Total
4,196.87
3,675.87
38
Kajaria Ceramics Limited
Annual Report
2012-13
25
YEARSOF
WORKINGWITH
ANATTITUDE
CELEBRATING
