Managerial Accounting

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Annual Report

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Content

Annual Report Analysis of
(For the FY 2013-2014)

Submitted By - : Rahul Raju
Subject

: Managerial Accounting

Roll No

: EMBA/8056/14

Semester

: 1St

Ltd

Department of Management

Rahul Raju – EMBA/8056/14
Annual Report Analysis of Justdial Ltd

Contents

1.

About

2.

Director’s Report

3.

Auditor’s Report

4.

Report on Corporate Governance

5.

Annual Report

6.

Ratio Calculation

2

Department of Management

Rahul Raju – EMBA/8056/14
Annual Report Analysis of Justdial Ltd

About Justdial
Just a click. That’s all it takes for us to open up a world of services. Go ‘online,’
and the world is at your doorstep!
ustdial is India’s leading local search engine, and have achieved top-of-the-mind
awareness, over the last 17 years of operating history. Being India’s default
destination for local search, they have enabled thousands of SMEs to get
discovered online. They have also transitioned to a platform that includes search plus
transactions; they refer to this as ‘Search Plus’ services.

J

At Just Dial, they are on the cusp of this transformative period, and are ready to help
India switch to the online platform, by directing you to the ‘correct’ content at the shortest
possible time. They plan to be the one-stop-shop for all your queries. No more looking
for the right numbers, calling up friends, checking the papers. They are just a click away.
From ordering your groceries, to looking for a mechanic, scheduling a doctor’s
appointment to booking a table for eight at the premium restaurant, or calling an
ambulance

Just Dial has the correct solutions for all your needs. They have revolutionised search
options for the user. Their ‘Online to Offline’ platform, Their ‘master app’ are all targeted
to help Their user perform multiple activities on a single platform. With cheaper
handsets, lower tariffs, phenomenal internet penetration across India’s cities, they realise
the possibilities are endless. Hence they, plan to help make life easier for the user, by
helping them with the best options and the cheapest rates. Their aim is to help integrate
every aspect of a user’s day-to-day life into that one click.

3

Department of Management

Rahul Raju – EMBA/8056/14
Annual Report Analysis of Justdial Ltd

Director’s Report

T

he Directors of Just Dial Limited presented 20th Annual Report along with the audited
accounts of the Company for the year ended March 31, 2014.



The Revenue from the operation has increased by about 27.16% on accrual basis to
4612.93 million in the year ended March 31, 2014 as compared to 3627.68 million in
the year ended March 31, 2013.



The Company’s operating earnings before interest, depreciation and taxes (EBITDA)
margin stands at 30.83% of the total income in the year ended March 31, 2014.



The Profit before tax and exceptional Items increased by about 67.49% to 1648.56
million in the year ended March 31, 2014 as compared to 984.28 million in the year
ended March 31, 2013.



The Company’s profit after tax (PAT) increased by 76.18% to 1206.08 million in the
year ended March 31, 2014 as compared to 684.57 million in the year ended March
31, 2013.



The Board has recommend a dividend of 2/- per share of face value of 10/- each for
the Financial Year ended on March 31, 2014.



The Company has transferred 120.61 Mn. to the General Reserve of the Company
for the Financial Year ended on March 31, 2014, which signifies and affirm the
financial strength of the Company.
The Report is signed off by V. S. S. Mani (Managing Director) and
V. Krishnan (Whole - time Director)

4

Department of Management

Rahul Raju – EMBA/8056/14
Annual Report Analysis of Justdial Ltd

Auditor’s Report
hey have audited the accompanying financial statements of Just Dial Limited (“the
Company”), which comprise the Balance Sheet as at March 31, 2014, and the
Statement of Profit and Loss and Cash Flow Statement for the year then ended,
and a summary of significant accounting policies and other explanatory information.

T

Management is responsible for the preparation of these financial statements that give a
true and fair view of the financial position, financial performance and cash flows of the
Company in accordance with accounting principles generally accepted in India, including
the Accounting Standards referred to in subsection (3C) of section 211 of the Companies
Act, 1956 (“the Act”) read with General Circular 8/2014 dated 4 April 2014, issued by the
Ministry of Corporate Affairs. This responsibility includes the design, implementation and
maintenance of internal control relevant to the preparation and presentation of
the financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
The Auditors responsibility is to express an opinion on these financial statements based
on their audit. They conducted their audit in accordance with the Standards on Auditing
issued by the Institute of Chartered Accountants of India. Those Standards require that
they comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free from material
misstatement. An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial statements.
The procedures selected depend on the auditor’s judgment, including the assessment of
the risks of material misstatement of the financial statements, whether due to fraud or
error. In making those risk assessments, the auditor considers internal control relevant to
the Company’s preparation and fair presentation of the financial statements in order to
design audit procedures that are appropriate in the circumstances but not for the
purpose of expressing an opinion on the effectiveness of the entity’s internal control.
An audit also includes evaluating the appropriateness of accounting policies used and
the reasonableness of the accounting estimates made by management, as well as
evaluating the overall presentation of the financial statements. They believe that the
audit evidence they have obtained is sufficient and appropriate to provide a basis for
their audit opinion.
There is no instances of fraud on or by the Company during the year (Has been
observed)
The Report is audited by
S. R. Batliboi & Associates LLP
Chartered Accountants
ICAI Firm Registration Number: 101049W

5

Department of Management

Rahul Raju – EMBA/8056/14
Annual Report Analysis of Justdial Ltd

Report on Corporate Governance

T

he Company’s corporate governance philosophy is to develop a fair,
transparent and accountable system which enhances the Shareholders’ value
and which makes the Company a value driven organisation. The Company
endeavors to maintain faith of investors, regulating authorities, customers and
general public in the organisation. The Code of Corporate Governance prescribed
by SEBI is a guiding code for the organisation to adopt best governance practices
which has been adopted by the Management of the Company.

As per Clause 49 Annexure I (A) the information placed before the Board includes:














Quarterly results for the Company and its operating divisions or business
segments.
Minutes of meetings of Audit Committee or any other committees of the Board.
The information on recruitment and remuneration of senior officers just below the
board level, including appointment or removal of Chief Financial Officer and the
Company Secretary and Compliance Officer.
Any show cause notice, demand notices, prosecution notices and penalty notices
which are materially important
Fatal or serious accidents, dangerous occurrences, any material effluent or
pollution problems.
Any material default in financial obligations to and by the Company, or substantial
non-payment for goods sold by the Company.
Any issue, which involves possible public or product liability claims of substantial
nature, including any judgment or order which, may have passed strictures on the
conduct of the Company or taken an adverse view regarding another enterprise
that can have negative implications on the Company.
Details of any joint venture or collaboration agreement. Transactions that involve
substantial payment towards goodwill, brand equity or intellectual property.
Significant labour problems and their proposed solutions.
Any significant development in Human Resources/ Industrial Relations front like
signing of wage agreement, implementation of Voluntary Retirement Scheme etc.
Sale of material nature of investments, subsidiaries, assets, which is not in the
normal course of business.
Quarterly details of foreign exchange exposures and the steps taken by
management to limit the risks of adverse exchange rate movement, if material.
Non-compliance of any regulatory, statutory or listing requirements and
shareholders service such as nonpayment of dividend, delay in share transfer etc.

6

Department of Management

Rahul Raju – EMBA/8056/14
Annual Report Analysis of Justdial Ltd

Financial Statements

7

Department of Management

Rahul Raju – EMBA/8056/14
Annual Report Analysis of Justdial Ltd

8

Department of Management

Rahul Raju – EMBA/8056/14
Annual Report Analysis of Justdial Ltd

Ratio Calculations
 Liquidity and Efficiency Ratios

Current Assets = 5250721742
Current Liabilities=2255740758
Therefore, CR = 5250721742 / 2255740758

Current Ratio = 2.33

The short-term debt-paying ability is Excellent .

Quick Assets = 5250721742 (Current Assets-Inventory-Prepaid expenses)
Current Liabilities=2255740758

Therefore , QR = 5250721742 / 2255740758

Quick Ratio = 2.33

Quick conversion of assets into liquid cash over current liabilities is
2.33:1
9

Department of Management

Rahul Raju – EMBA/8056/14
Annual Report Analysis of Justdial Ltd



Solvency Ratios

Total Debt = 2305182327
Total Asset = 7649681515
Therefore, DR = ( 2305182327 / 7649681515)*100

Debt Ratio = 30.13 %

30.13% of a company’s assets are contributed by creditors.

Total Equity = 5344499188
Total Asset = 7649681515
Therefore, DER = (5344499188 / 7649681515)*100

Debt Equity Ratio = 69.87%

69.87% of company’s assets are contributed by owners.

10

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