Balance Sheet: Titan Industries Limited

TITAN INDUSTRIES LIMITED
29th Annual Report 2012-13
Balance Sheet as at 31 March 2013

Note
No
As at
31-03-2013
` lakhs
As at
31-03-2012
I.
EQUITY AND LIABILITIES
(1) Shareholders funds
(a) Share capital
(b) Reserves and surplus
2.1
2.2
8,877.86
187,609.17
196,487.03
8,877.86
136,111.82
144,989.68
(2) Non-current liabilities

(a) Long-term borrowings
(b) Long-term provisions
3
4
6,289.60
6,289.60
588.89
5,755.29
6,344.18
(3) Current liabilities

(a) Trade payables
(b) Other current liabilities
(c) Short-term provisions
5
6
7(a)
209,726.37
145,658.02
29,317.75
384,702.14
587,478.77
188,822.73
105,530.25
23,669.30
318,022.28
469,356.14
8(a)
8(b)
44,021.96
841.79
4,166.24
49,029.99
1,850.90
803.78
35,775.45
1,097.06
2,485.21
39,357.72
1,604.90
377.49
1,173.42
17,267.31
18,440.73
70,125.40
577.30
12,216.78
12,794.08
54,134.19
367,794.49
16,379.09
113,654.54
18,573.04
952.21
517,353.37
587,478.77
287,866.90
16,310.94
96,053.00
11,727.81
3,263.30
415,221.95
469,356.14
Particulars
Total
II. ASSETS
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets
(ii) Intangible assets
(iii) Capital work-in-progress
(b) Non-current investments
(c) Deferred tax asset (Net)
(d) Long-term loans and advances
(i) Capital advances (Unsecured and considered good)
(ii) Other advances
(2) Current assets

(a) Inventories
(b) Trade receivables
(c) Cash and bank balances
(d) Short-term loans and advances
(e) Other current assets
9
10
11
12(a)
13
14
15
16
Total
See accompanying notes forming part of the nancial statements.

In terms of our report attached
For DELOITTE HASKINS & SELLS
Chartered Accountants
V. Srikumar
Partner
For and on behalf of the Board of Directors

Bhaskar Bhat
Managing Director
S. Subramaniam
Chief Financial Ofcer
Bangalore, 3 May 2013

60
A.R. Rajaram
Head-Legal & Company Secretary
Hans Raj Verma
Chairman
Ishaat Hussain
C.G. Krishnadas Nair
N.N. Tata
T.K. Arun
Hema Ravichandar
Ireena Vittal
Directors
Statement of Prot and Loss for the year ended 31 March 2013
Particulars
I.
Revenue from operations (gross)
` lakhs
Note
No.
Current Year
Previous Year
17
1,020,635.82
897,085.87
9,368.74
13,248.03
1,011,267.08
883,837.84
10,077.09
9,411.40
1,021,344.17
893,249.24
Less: Excise duty

Revenue from operations (net)
II.
Other Income
III.
Total Revenue (I +II)
IV.
Expenses:
18
Cost of materials and components consumed
27(a)
677,291.83
614,508.16
Purchase of traded goods
27(b)
155,509.54
115,088.28
(Increase)/decrease in nished goods, work-in-progress and stock-in-trade
19
(81,288.42)
(75,185.13)
Employee benets expense
20
48,452.51
39,234.34
Finance costs
33
5,064.00
4,371.53
5,448.89
4,489.62
110,239.01
106,898.55
Total Expenses
920,717.36
809,405.35
V.
Prot before tax (III - IV)
100,626.81
83,843.89
VI.
Tax expense:
28,535.00
23,890.00
(426.29)
(529.31)
467.61
Total Tax
28,108.71
23,828.30
VII.
Prot after tax (V-VI)
72,518.10
60,015.59
VIII.
Earnings per equity share of ` 1:

(1) Basic
8.17
6.76
(2) Diluted
8.17
6.76
Depreciation and amortization expense

Other expenses
21
(1) Current tax

(2) Deferred tax
(3) Taxes of earlier years
41

V. Srikumar
Partner

Bhaskar Bhat
Managing Director
S. Subramaniam
A.R. Rajaram
Hans Raj Verma
Chairman
Ishaat Hussain
N.N. Tata
T.K. Arun
Hema Ravichandar
Ireena Vittal
Directors
61

29th Annual Report 2012-13
Cash Flow Statement for the year ended 31 March 2013

Particulars
A.
` lakhs
Current
Year
Previous
Year
100,626.81
83,843.89
5,448.89
4,489.62
(1,202.46)
2,918.16
14.92
33.92
185.29
225.91
720.64
155.46
(556.89)
(9,986.94)
(9,305.26)
- Dividend income
(0.08)
(0.44)
- Interest expense
5,064.00
4,371.53
100,305.89
86,741.08
(198.67)
(5,103.52)
(79,834.45)
(88,484.03)
- (Increase)/ decrease in short-term loans and advances
(9,476.73)
(940.72)
- (Increase)/ decrease in long-term loans and advances
(3,107.53)
(1,905.82)
- Increase/ (decrease) in trade payables
22,363.27
19,838.31
- Increase/ (decrease) in other liabilities
40,311.15
28,933.46
- Increase/ (decrease) in short-term provisions
534.31
1,602.91
- Increase/ (decrease) in long-term provisions
1,893.11
654.66
72,790.35
41,336.33
(27,480.62)
(25,586.50)
45,309.73
15,749.83
(16,642.81)
(13,667.82)
379.73
150.87
(279.59)
(1,074.22)
0.08
0.44
Interest received
12,310.19
7,601.41
Net cash used in investing activities
(4,232.40)
(6,989.32)
CASH FLOW FROM OPERATING ACTIVITIES

Net prot before tax
Adjustments for :
- Depreciation/Amortization
- Unrealised exchange difference (net)
- Marked to Market loss
- Loss on sale/ disposal/scrapping of xed assets (net)
- Bad debts written off
- Provision for doubtful debts/advances (net)
- Interest income
Operating prot before working capital changes

Adjustments for :
- (Increase)/ decrease in trade receivables
- (Increase)/ decrease in inventories
Cash generated from operations

- Direct taxes paid
Net cash from operating activities
B.
CASH FLOW FROM INVESTING ACTIVITIES

Additions to xed assets (including capital work-in-progress and capital advances)
Proceeds from sale of xed assets
Purchase of investments
Dividends received
62
Cash Flow Statement (Contd.)
for the year ended 31 March 2013
Particulars
C.
` lakhs
Current
Year
Previous
Year
(542.22)
(5,807.24)
(15,435.02)
(11,018.54)
Tax on dividends paid
(2,520.37)
(1,800.26)
Interest paid
(5,064.00)
(4,817.56)
(23,561.61)
(23,443.60)
Net cash ows during the year (A+B+C)
17,515.72
(14,683.09)
Cash and bank balances (opening balance)
96,053.00
109,649.90
448.26
832.18
(318.37)
(64.36)
96,182.89
110,417.72
113,654.54
96,053.00
44.07
(318.37)
113,698.61
95,734.63
17,515.72
(14,683.09)
CASH FLOW FROM FINANCING ACTIVITIES

Repayment of borrowings
Dividends paid
Net cash used in nancing activities
Add: Cash and bank balances acquired on amalgamation {Refer note 22}
Add/ (Less): Unrealised exchange (gain)/ loss
Cash and bank balances (closing balance)

Add/ (Less): Unrealised exchange (gain)/ loss
Increase/ (decrease) in cash and bank balances

V. Srikumar
Partner

Bhaskar Bhat
Managing Director
S. Subramaniam
A.R. Rajaram
Hans Raj Verma
Chairman
Ishaat Hussain
N.N. Tata
T.K. Arun
Hema Ravichandar
Ireena Vittal
Directors
63

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TITAN INDUSTRIES LIMITED

29th Annual Report 2012-13

Balance Sheet as at 31 March 2013

(2) Non-current liabilities

(3) Current liabilities

(2) Current assets

See accompanying notes forming part of the nancial statements.

For and on behalf of the Board of Directors

Bangalore, 3 May 2013

Hans Raj Verma

TITAN INDUSTRIES LIMITED

Revenue from operations (gross)

Less: Excise duty

Total Revenue (I +II)

Cost of materials and components consumed

Purchase of traded goods

(Increase)/decrease in nished goods, work-in-progress and stock-in-trade

Employee benets expense

Prot before tax (III - IV)

Prot after tax (V-VI)

Earnings per equity share of ` 1:

Depreciation and amortization expense

(1) Current tax

See accompanying notes forming part of the nancial statements.

For and on behalf of the Board of Directors

Bangalore, 3 May 2013

Hans Raj Verma

TITAN INDUSTRIES LIMITED

Cash Flow Statement for the year ended 31 March 2013

- (Increase)/ decrease in short-term loans and advances

- (Increase)/ decrease in long-term loans and advances

- Increase/ (decrease) in trade payables

- Increase/ (decrease) in other liabilities

- Increase/ (decrease) in short-term provisions

- Increase/ (decrease) in long-term provisions

Net cash used in investing activities

CASH FLOW FROM OPERATING ACTIVITIES

Operating prot before working capital changes

Cash generated from operations

CASH FLOW FROM INVESTING ACTIVITIES

TITAN INDUSTRIES LIMITED

Cash Flow Statement (Contd.)

for the year ended 31 March 2013

Tax on dividends paid

Net cash ows during the year (A+B+C)

Cash and bank balances (opening balance)

CASH FLOW FROM FINANCING ACTIVITIES

Net cash used in nancing activities

Cash and bank balances (closing balance)

Increase/ (decrease) in cash and bank balances

See accompanying notes forming part of the nancial statements.

For and on behalf of the Board of Directors

Bangalore, 3 May 2013

Hans Raj Verma

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