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FINANCIAL STATEMENT 1FINANCIAL STATEMENTFINANCIAL STATEMENT ANALYSIS OF A PUBLIC COMPANYCOMPANY OVERVIEWWorld steel Limited company is engaged in the business of manufacturing Ductile Iron Pipes, Fittingsand Cast Iron Pipes. Additionally, the company also undertakes turnkey solutions for water transportation andsewerage management, which includes manufacturing DI Pipes, supplying and laying various types of pipes,operating the system and transferring to the owners. To transport sufficient quantities of water from different sources to treatment plants with minimal loss and thentransport it to the end users, a strong reliable transport medium is required. Earlier, only major means availablefor the use in water transportation application (supply and sanitation) were the CI Pipes. The DI pipes were firstintroduced in 1955, which has since been recognized as the industry standard for modern water and waste watersystem. DI Pipes are preferred over CI Pipes on account of being lighter, stronger, more durable and costefficient these being corrosion resistant, ductile, etc. The DI Pipes can also be laid out much faster and arevirtually maintenance free. In addition, DI Pipes require less support and provide greater flow area as comparedto pipes made from other materials.Its main product Ductile Iron DI spun pipes. Its main competitors are Akar Tools Limited, Alicon CastalloyLimited , Carnation Industries Limited, Gontermann Peipers Limited. BALANCE SHEET AS AT MARCH 31, 2012, 2011, 2010Particulars As at 31.3.2012 As at 31.3.2011 As at 31.3.2010EQUITY AND LIABILTIES SHAREHOLDERS FUNDShare Capital 20,000 20,000 20,000Reserves and Surplus 283,633 175,873150,000303,633 195,873 170,000NON CURRENT LIABILITIESLong Term Borrowings 8000 10000 10000Other long term liabilities 7000 8000 12000
FINANCIAL STATEMENT 2Long Term Provisions 10002000400016000 20000 26000CURRENT LIABILITIESShort term borrowings 67600 55542 60000Trade Payables 10000 30000 50000Other current liabilities 1142 6025 5000Short Term Provisions 100005000500090742 99,567 120,000TOTAL 378375 315440 316000ASSETSNON CURRENT ASSETSFixed Assets 75000 75000 60,000Long term loans and advances 50,0003000010000125000 100,000 70,000CURRENT ASSETSInventories 85000 82000 60,000 Trade Receivables 60,000 38,000 20,000Cash and Bank Balance 88,000 48000 30,000
FINANCIAL STATEMENT 3Other Current assets 2037547400136000253375 215440 246000TOTAL 378375 315440 316000 Comparative Income StatementFor the Years Ended March 31, 2012,2011 and 2010Revenue:201220112010Sales895,000 705,450 600,000Less Sales Returns and Allowances12,500 11,650 12,000Net Sales882,500 693,800 588,000Cost of Goods SoldMerchandise Inventory, January 182,500 80,000 70,000Net Purchases306,000 262,000 200,000Total Merchandise Available for Sale388,500 342,000 270,000Less Merchandise Inventory, December 3185,000 82,500 70,000Cost of Goods Sold303,500 259,500 200,000Gross Profit on Sales579,000 434,300 388,000Operating ExpensesSelling Expenses Sales Salaries Expense87,000 79,000 60,000 Payroll Tax Expense-Selling8,700 7,900 6000 Other Selling Expenses25,800 15,200 12,000Total Selling Expenses121,500 102,100 78,000General and Administrative Expenses Officers Salaries Expense130,000 110,000 80,000 Payroll Tax Expense-Administrative13,000 11,000 8,000 Depreciation Expense8,250 8,250 8,250 Other General and Administrative Expenses9,450 7,000 6,000