CORPORATE ACCOUNTS

CIA3
Topic: COMPARISON BETWEEN
STEEL AUTHORITY OF INDIA & OIL INDIA LTD.
 Steel Authority of India Limited
SAIL is one of the largest steel producers in India. It is a public sector undertaking,
owned and operated by the government of India. Incorporated on 24 January 1947,
SAIL has 68742 employees.

Steel Authority of India Limited

Statement of profit and loss account for the year ended 31st march 2020

(Rupees in crore unless stated otherwise)

Sl. no Particulars Note INR

1. Income

(a) Revenue from operations 61660.55

(b) Other income 985.22

Total income 62645.77

2. Expenses

(a) cost of material consumed 29212.87

(b) changes in inventories of finished goods (5555.82)
(c) employee benefit expenses 8781.32
(d) finance costs 3486.76
(e) depreciation and amortization expenses 3755.05
(f) other expenses 19023.17

Total expenses 58703.35

3. Profit/loss before exceptional items and tax 3942.42

Add / (less): exceptional items (771.76)

4. Profit/loss before tax 3170.66

Less: tax expenses

Current tax 224.14

Deferred tax 1073.73

MAT credit (214.75)

Current tax 66.00

5. Net profit/ loss for the period 2021.54

A Other comprehensive income(OCI)

a. item that will not be reclassified (177.61)

b. income tax relating to items that will not be 61.90
reclassified to profit and loss
6. Total comprehensive income/ loss for that 1905.83
period

7. paid up equity share capital 4130.53

8. Other equity excluding revaluation reserve 35646.85

9. Earnings per equity share (of 10 per each)(not

annualized)

(a) basic
4.89
(b) diluted
4.89

STEEL AUTHORITY OF INDIA LIMITED

Balance Sheet as on 31.03.2019

Particulars Amount (Rs crore)
ASSETS
(1)Non-current assets
(a) Property, plant and equipment 59907.26
(b) Capital work-in-progress 16013.50
(c) Right of use assets -
(d) Investment property 1.09
(e) Intangible assets 1450.86
(f) Financial assets
● Investments 1584.75
● Loans 563.98
● Other financial assets 258.41
(g) Deferred tax assets (net) 2898.38
(h) Current tax assets (net) 153.63
(i) Other non-current assets 1356.60
Total non-current assets 84188.46
(2) Current assets
(a) Inventories 19441.80
(b) Financial assets
● Trade receivables 4495.05
● Cash and cash equivalents 34.59
● Bank balances other than above 184.83
● Loans 53.24
● Other financial assets 2160.88
(c) Other current assets 5867.41
32237.80
Assets classified as held for sale 11.47
Total current assets 32249.27

Total assets 116437.73

Equity and liabilities
(1) Equity
(a) Equity share capital 4130.53
(b) Other equity 34021.04
Total equity 38151.57
(2) Non-current liabilities
(a) Financial liabilities
● Borrowings 30802.66
● Trade payables
*total outstanding dues of micro and small enterprises -
*total outstanding dues of creditors other than micro and
small enterprises 6.82
● Other financial liabilities 1330.62
(b) Provisions 4295.41
(c)Other non-current liabilities 253.19
Total non-current liabilities 36688.70
(3) Current liabilities
(a) Financial liabilities
● Borrowings 10631.22
● Trade payables
*total outstanding dues of micro and small enterprises 67.45
*total outstanding dues of creditors other than micro and
small enterprises 7190.54
● Other financial liabilities 14693.31
(b) Other current liabilities 6706.17
(c) Provisions 2308.77
Total current liabilities 41597.46

Total equity and liabilities 116437.73

OIL INDIAN LIMITED

Oil India limited is the second largest hydrocarbon exploration and production
Indian public sector company with its operational headquarters in Duliajan, Assam,
India.
 OIL INDIA LIMITED

STATEMENT OF PROFIT AND LOSS ACCOUNT OF YEAR ENDED

31/3/2020

PARTICULARS AMOUNT (IN CRORE)

I. REVENUE FROM 12128.52
OPERATIONS
1520.19
II. Other income
13648.71
III. Total income (I+II)
iv. Expenses

a) Purchase of stock in trade 214.13

b) Changes in inventories of finished 43.47

goods

c) Employee benefit expenses

1899.42
d) Royalty and expenses
3314.61
 e) Contract cost 895.36

f) Consumption of stores and spare 194.68

parts

g) Finance cost
498.80
h) Depreciation, depletion and
1491.83
amortization expenses.

i) Other expenses
2976.31
Total expenses
11528.61
v. profit before exceptional items and 2120.10
tax (iii-iv)

vi. exceptional items

-
vii. profit/(loss) before tax (v-vi)
2120.10
viii. tax expenses

1) Current tax relating to:

i. Current year 675.61

ii. Earlier year (645.19)

2) Deferred tax (494.38)

Total expenses 1+2 (463.96)

ix. profit/ loss for the period from 25284.06
continuing operations(vii-viii)

x. profit from the period of

-
discontinued operations.

xi. Tax expenses of discontinued

operations. _
xii. Profit from discontinued after
tax(x-xi)

xiii. profit/loss for the period(ix+xii)

xiv. other comprehensive income(oci)

25284.06
A. (I) Items that will not be
reclassified to profit or loss:

a. Re- measurement of the benefit

plans

b. Equality instruments through (856.72)

other comprehensive income

(ii) income tax relating to items (3942.97)

that will not be reclassified to
profit or loss

B. (I) Items that will be reclassified 421.65

to profit or loss

(ii) Income tax relating to items that will

be reclassified to profit or loss
-
Total other comprehensive
income(A+B)
-

(4378.04)
xv. total comprehensive income for (1793.04)
the period (xiii+xiv)
xvi. paid up equity shares 1084.41
capital( face value of rs 10 each)

xvii. other equity

23302.26
xviii. earnings per share for
continuing operations)

basic and diluted EPS

23.83
XIX. Earnings per share(EPS)(for
discontinued operations)

Basic and diluted EPS

xx. earnings per share (EPS) ( for -

discontinued and continuing
23.83
operations)

basic and diluted EPS

OIL INDIA LIMITED Balance Sheet

Total current assets 100,038.90

Cash and short term investments 47,552
Cash -
Cash and equivalent 38530.20
Short term investments 9,021.80
Total receivables ,net 25,585.10
Accounts receivable – trade, net 10,895.90
Total inventory 12,750.20
Prepaid expenses -
Other current assets, total 14,151.60

Total assets 514,434.30

Property / plant / equipment, total 148,564.80
Property / plant / equipment, total - -
gross
Accumulated depreciation, total -
Goodwill, net -
Intangibles, net 486.50
Long term investment 262,263.60
Note receivable – long term 1,405.80
Other long-term assets, total 1,674.70
Other assets, total -

Total current liabilities 56,714.10

Accounts payable 5,983.10
Payable / accured -
Accrued expenses -
Notes payable / short term debt 0
Current port. Of Ltd / capital leases 18,250.40
Other current liabilities, total 32,480.60

Total liabilities 225,947.40

Total long term debt 126,695
Long-term debt 126,695
Capital lease obligations -
Deferred income tax 28,134.40
Minority interest -
Other liabilities, total 14,403.90

Total equity 288,486.90

Redeemable preferred stock, total -

Preferred stock – non-redeemable, net -
Common stock, total 10,844.10
Additional paid-in capital -
Retained earnings ( accumulated 277,642.80
deficit)

Treasury stock - common -

ESOP dept guarantee -
Unrealized gain (loss) -
Other equity, total -
Total liabilities and shareholders’ 514,434,30
equity
Total common shares outstanding 1,084.41
Total preferred shares outstanding -
Each financial statement shows a piece of the larger picture. Financial statement analysis puts the
financial statement information in context and so in sharper focus. The income and cash flow
statements explain the changes in the balance sheet over time. Comparisons made over time so
that we can demonstrate the effects of past decisions to better understand the significance of
future decisions of both different companies in different domain that is SAIL and OIL India It'd.
So let's have a quick financial review of both Sail and oil India ltd.

FINANCIAL REVIEW OF OIL India Ltd:

During the year OIL has earned total revenue of र 15170.00 crores against र 12140.64 crore in
the previous year 2017-18. The operating profit margin of the Company for financial year 2018-
19 was 25.54%. The profit before tax in the year 2018-19 was र 3916.22crore against PBT of र
3709.80 crore in the previous year. The profit after tax was र 2590.14 crore in the financial year
2018-19 against र 2667.93crore in the previous year. PAT for the financial year 2018-19 has
reduced by र 77.79 crore as compared to 2017-18 due to provision of onetime deficit of र
1026.79crore in actuarial valuation against option given to employees to opt for contribution to
EPS-95 pension scheme on actual salary basis instead of statutory salary.

FINANCIAL REVIEW OF SAIL:

Here, SAIL Company has achieved sales turnover of Rs,66,267 crore during the Financial Year
2018-19, which is higher by 16% as compared to corresponding period of last year mainly due to
increase in Net Sales of Saleable Steel of 5 Integrated Steel Plants by about 16%. During the
Financial Year, the Profit before Tax and Profit after Tax at Rs,3,338 crore and Rs,2,179 crore
respectively reflect substantially better and higher performance over this year.

The profit of SAIL Company during the Financial Year 2018-19 has improved on account of
higher Saleable Steel production, increase in Net Sales Realization of Saleable Steel of 5
Integrated Steel Plants, sales of secondary products, lower voluntary retirement compensation,
lower Coke Rate, etc. However, the same has been partially offset by increased imported coking
coal rate, purchased power rate, increase in repairs & maintenance expenditure, stores & spares
expenditure, security expenses, royalty rates on Iron Ore, foreign exchange loss, higher imported
coal in blend, higher usage of Iron Ore, provision for differential royalty on Bolani and Barsua
Iron Ore Mines as well as Entry Tax in UP State.

DONE BY:
1910221 Bhanavi Gupta

1910223 Sherlin Alexander

1910234 Teshwin Xavier

1910235 Afnain Anjum

1910245 Dhanush CS

1910269 Rakshitha R