IFIC PROJECT en TOPIC : Segment Analysis of ITC Limited VY AN Enduring Value_ OBJECTIVES OF THE PROJECT The main objectives of my project are that | will be able: > To find out which segment has the maximum sales. > To find out which segment earns the maximum profit. > To find out which segment utilises the capital efficiently. » » To find out if there is any underutilisation of capital in any segments. To find out which are the best and the worst segments and analyse the reasons for the same. NEED FOR SEGMENT ANALYSIS It has been made mandatory for all listed companies to. report at the end of every quarter the Revenue eared, Profit made with the Capital Employed at the disposal of each company. This has been done to stop the practice of covering up the bad performance of any segment during the quarter. The stakeholders may question the management for poor performance of any segment. They may also suggest improvements. The management may also give reason for poor performance and may also take some necessary measures to improve the performance or may even decide to discontinue the segment. PERIOD OF STUDY Study of the contribution of each segment during the Quarter ending March 31, 2020 towards Revenue, Profit and Capital Employed. TOOLS OF ANALYSIS (i) Common Size Statements _ (ii) Net Profit Ratio of each segment ii) Pie Diagrams ABOUT THE COMPANY Incorporated on : 24th August, 1910 as a Tobacco Company Head Office : ITC Limited, 37, J.L. Nehru Road, Kolkata Chairman : Sh. Sanjiv Puri It was originally in tobacco business but now ITC is one of India’s foremost ‘enterprise operating in businesses like FMCG (Fast Moving Consumer Goods), Hotels, Paperboards and Speciality Papers, Packaging, Agri-Business and Project Workin Accountancy (Class-XI))Serene Information Technology within a relatively short span of time, ITC has established vital brands like Aashiry Sunfeast, Dark fantasy, Fiama Di Wills, Vivel, Classmate, ¢ a ITC constantly tries to benchmark its products, services land processes to global standards. The company’s pursuit of excellence hi s cared its national and intemational honours and fame, SEGMENTS OF THE COMPANY (@) Paperboards and Packaging SOURCE MATERIAL ITC LIMITED Audited Segmentwise Revenue, Results and Capital Employed For the quarter ended 31st March, 2020 in Crores) ‘Quarter ended | aoe a 2 31/03/2020 (2) "4. Segment Revenue i (@) FMCG - Cigarettes 5,750.44 — Others 3,190.34 Total FMCG 8,940.78 (©) Hotel 494.76 (©) Agri Business 1,899.01 (6) Paperboards, Paper & Packaging 1,458.87 (©) Others | 575.68 | Total Less : Inter segment revenue Net Sales/income from Operations 2 Segment Results (@) FMCG - Cigarettes ~ Others Total FMCG (0) Hotels (6) Agri Business (6) Paperboards, Paper & Packaging (©) Others Total my» Goyal Brothers Pratashan , _@| Less "(Finance Costs 44.66 ____(ii)_Other unallocable (income) net of unallocable expenditure | (432.90) ~~ Profit Before Tax Ri 4,743.47 3: Tax expense é | Profit After Tax as ‘ = | 4,743.47 73. Capital Employed (Assets — Current Liabilities) | (a) FMCG ~ Cigarettes 3,334.93 | = Others 6,606.82 Total FMCG 40,021.75 (b) Hotels 6,732.95 (c) Agri Business | 3,361.49 (6) Paperboards, Paper & Packaging 6,052.78 (e) Others 1,226.19 Total Segment Capital Employed Source : wwwiteportal.com PROCESSING THE DATA () Common Size Statement of Revenue 27,395.16 irc LiMiTED. Common Size Statement of Revenue For the quarter ended March 31, 2020 ____ Segment Revenue (2) | Calculation” 8940.78 (2) FMCG 8940.78 7388.10 | 494.76 | | (©) Hotels 494.76 leeeraeeason 31% 1 | 1899.01 i ee 14.2% (c) Agri Business 1699.01 ja3e0.1071° 1458.87 | ji eee 10: (@) Paperboards & Packaging 1458.87 [Gasser | (108% j 575.68 ext 4s (e) Others 575.68 Fe ixcssan a 3% | Total 1336.10 : ‘Segment Revenue -Formuta : Seament Revenue 199 Total Revenue Revenue Contribution of Each Segment FMCG N > Hotels, Agri Business, Paperboards & Packing Others Project Work n Accountancy (ls) a —@ Common Size Statement of Results (Profit) (TC LIMITED ‘Common Size Statement of Profit For the quarter ended March 31, 2020 [ ‘Segment | Proft © | Calculation" |] | 3794.25 (@) Fuce 373425 a 87.7% | 3827 xt | (©) Hotels 3827 430525 100 | 09% 127.05 | (©) Agr Business: 127.05 a” | 29% 285.71 (@) Paperboards & Packaging 285.71 100 | cen | 79.97 | rd (e) Others | 7997 | Zsos25 “1° 19% (ae et [ aa | | 400 *Formula : SeIMENt POA. 599 Total Profit Profit % Contribution of Each Segment 19 ime t) res a "Agri Business Paperboard & Packing Others Common Size Statement of Capital Employed Tc LIMITED Common Size Statement of Capital Employed For the quarter ended March 31, 2020 (in ® Crores) [ ‘Segment Capital Employed () Calculation" Percentage ] 40,021.75, | © FMCG | 10,021.75 2730816" 366% | | 6,732.95 (0) Hotels | 6,732.95 zs0516" 1 24.6% 3961.49 | (©) Agri Business 3,361.49 aa" 20K Goyal Brothers Prelashtrds & Pack BeLO52i703 | @ \nceaiy caging 6,052.78 PSone ss | 4226.19 rs 2 x4 4% (6) Other 1,226.19 aa | lie Total 21,492.14 | 100 B A , Segment Capital Employed ‘Formula : “otal Capital Employed *100 Capital Employed % Contribution of each segment 4.4% FMCG Hotels Agi Business. 123% Paperboards & Packing Others SUMMARY OF COMMON SIZE STATEMENTS OF ALL FIVE SEGMENTS ees Revenue% | _ Profit % Capital Employed % | Contribution __—_Contribution Contribution ‘@ FMCG 66.9% 87.7% 36.6% |) Hotels 3.7% 0.9% 24.6% | (c) Agr Business 14.2% 29% 12.3% | (@) Paperboards & Packaging 10.9% 6.6% 22.1% | (@) Others 4.3% ios bi 44% i Total omen 100 100 43% 1.9% 0% 4.4% ete FMce 9% Hotels ee ‘Agri Business is Paperboards & Packing 31% ones Revenue % Contribution (iv) Net Profit Ratios of all Segments Profit % Contribution Capital Employed % Contribution, f ‘Segment Profit as % of Revenue |(@) FMCG Project Work in Accountancy (Class-XI) 3,794.25 8,940.78 % 100 = 42.4%() Hotels Bat x 100 = 7.7% (©) Agh Business aa” 100 = 66% (8) Paperboards & Packaging Gan gy * 100 = 19.5% {(e) Others | Be 100 = 13.8% Bar Graph for Net Profit Ratio Not Proft Ravo Percentage NCLUSION Observing the Profit, Revenue and Capital Employed tables above we see that the highest contribution to revenue is made by FMCG 66.9% and the lowest revenue is contributed by the HOTELS BUSINESS 3.7%. The highest profit is also earned by FMCG 87.7% and the lowest profit is earned by the HOTELS BUSINESS 0.9%. Similarly, most of the capital is employed in FMCG and the least in the OTHERS 4.4%. We can suggest the company to increase the sales of FMCG by increasing the capital employed so that more goods can be sold in this segment. The company should give more attention to its HOTELS BUSINESS. Either the policies in this segment have to be changed to make it more profitable or it should be completely closed down. Closure of this segment would lead to the segment’s capital employed being utilised in FMCG segment to increase the total revenue and profit. Even the capital invested in ‘OTHERS’ segment should be withdrawn and invested in FMCG or HOTEL BUSINESS to make them earn more profit. Even on the basis of Net Profit Ratio FMCG segment shows the best ratio. Undoubtedly the FMCG is the best segment and the worst is the Hotels segment. Goyal Brothers PrataskonIFIC PROJECT —- TOPIC : Segment Analysis of | Prakash Industries Ltd. \s DvD | a | 5 } OBJECTIVES OF THE PROJECT The main objectives of my project are that | will be able: > To analyse the contribution of each segment towards both Revenue and Results, > To know and justify the extent of capital employed used by each segment. > To judge the profitability of each segment. > To know as to which segment performed least during the period under study. PERIOD OF STUDY Study of the contribution of each segment during the year ending March31, 2016 towards Revenue, Profit and Capital Employed. TOOLS OF ANALYSIS (® Common Size Statements (ii) Net Profit Ratio of each segment ABOUT THE COMPANY PRAKASH INDUSTRIES LIMITED \S 7) a The company was established in 1980 with a vision to become an integrated steel and power company by the founder chairman Sh. B.D. Aggarwal. The company is today known for its quality products at very reasonable and competitive prices. It always introduced innovative ways to cut its cost to increase the profits. It has set up a state of the art technology integrated plant at Champa in the Chhattisgarh state. The company has set up facilities at various places. to manufacture Wire Rod, HB Wire, TMT bars and Structurals. The company is self reliant in power with a power generation plant of its own. Along with steel the company has also focussed on power generation because of increasing demand of power in the country. Power is generated with the help of boilers using low grade fuel for turbines. This is a very ‘economical process. It is a listed company and its shares are traded both at BSE and NSE. The market price as on May 18, 2017 was 296 per share of %10 each. This indicates the financial strength of the company. mSEGMENTS OF THE COMPANY ' ren (a) Power (b) Stee! (©) PVC Pipe SOURCE MATERIAL PRAKASH INDUSTRIES LIMITED ‘Segment wise Revenue, Results and Capital Employed For the year ended March 31, 2016 Gin lakhs) | e Capital Employed | ‘Segment Revenue Results (Profits) (Segment Assets- | Segment Liabilities) (a) Power 34,946 a 4,647 1,40,344 | (@) Steet 1,79,887 987 4,65,132 |(@ PVC Pipe 25,286 3,289 3,543 | Total 2,40,119 8,923 3,09,019 Source : wwwprakashindustries.com PROCEDURE ADOPTED (Preparation of three Common Size Statement for Revenue, Profits (Results) and Capital Employed from the data in source material. (ii) Preparing Pie Diagrams for each Common Size Statement. (iil) Calculation of Net Profit Ratios. PROCESSING THE DATA (i) Common Size Statement of Revenue PRAKASH INDUSTRIES LIMITED. Common Size Statement of Revenue For the year ended March 31, 2016 in lakhs) | Segment “Revenue Percentage of Total | Angles in Degrees ®) (%) (a) Power 34,946 14.55 52" (0) Steel 4,79,887 74.92 270" (©) PVC Pipe 25,286 10.53 38° | Total 2,40,119 100 360° Prec Work nAconntaney (Clase X1) 2 EEStool PVC Pipe Pie Diagram depicting Revenue share of various segments (i) Common Size Statement of Results (Profits) PRAKASH INDUSTRIES LIMITED Common Size Statement of Profits For the year ended March 31, 2016 (th fate) ‘Segment Results (Profits) | Percentage of Total | Anglos in Degrees ® (%) (a) Power 4,647 52 187" () Steel 987 " 40° (©) PVC Pipe 3,289 37 i ke Total eS 100 Ser] Steel PVC Pipe Power Pie Diagram depicting share of Profits contributed by each segment (ii) Common Size Statement of Capital Employed PRAKASH INDUSTRIES LIMITED. Common Size Statement of Capital Employed For the year ended March 34, 2016 in lakhs) mae Capital Employed Percentage of Total_| Angles in Degrees ©) (%) (2) Power 140:344 o on | @) Stool 4,65,132 535 ion ieee 3,543 Me m ae 3,09,019 Ate 30(Bh 01 ve Ppa rv PVG Pipe Power Ple Diagram depicting share of capital employed of each segment Observation percentage of 74.92% of Total Reve Steel Segment has contributed maxim 11%. It is very strange, Moreover, itis usin f Total Capt yed which is not ju The management should find out and enquire into the maximum share of Revenue and minimum share of Profits, PVC Pipe Si J only 10.5% of the Total Revenue but it hax contributed 37% of the Moreover, it used, only 1.8% of the Total Capital Employed this is really commendable performance, Power Segment has contributed 14.55% of the Total Revenue has helped the company 4 earn 52% of the Total Profit. The profitability of the power segment is the best, With this performance it stands At the top, Moreover, it has used only 45% of the Total Capital Employed, fied on any account 1ee of this major segment with asons for this poor perf gment has contribu otal P (iv) Calculation of Net Profit Ratio of all Segments (a) Power Segment fi 4 Net Profit Ratio = ——P!OMt _, 19g O47 199 6 13,396 Total Revenue 14,946 (b) Steet Segment Profit 987 0 * 100 = * 100 = 0.5% Net Profit: Ratlo =Total Revenbo wiles, seal(I9,G070: Ys ooeae (©) PVC Pipe Segment Profit 3,289 Net Profit ——— x 100 = *100 = 13% et Profit Ratio = R= * 100 = 55556 «100 = | ‘The Net Profit Ratio of Power segment is the best of the three segments, PVC Pipe segment is al number two and Steel segment at number three. NCLUSION On the basis of the above analysis based on the Common Size Statements and Net Profit Ratios of the three segments, Power segment has shown the best performance during the year ended March 31, 2016, Its profit share is 52% with Revenue share of just 14.55% and Capital Employed consumption of 45%, Moreover, its Net Profit Ratio Is also the highest at 13.3%, There is huge demand for power in the country and It Is ikely to continue, This segment has a very bright future, The company should try to invest more capital in this segment to Increase Total Revenue and Profit, Project Wk a Accountancy (Clase) >IFIC PROJECT TOPIC : Comparative Study of the Segments of q@ DvD Tata Power Ltd. TATA POWER, OBJECTIVES OF THE PROJECT The main objectives of my project are that | will be able: » To know as to which segment is the best on the basis of Revenue, Profit and on the basis of effective utilisation of Capital Employed. » To know as to which segment’s performance is poor on the basis of the same parametres as stated above. > To give suggestions, after the analysis to the management. NEED FOR SEGMENT REPORTING All listed companies publish quarterly segment performance reports. This is done to inform the stakeholders about the progress made by each segment of the company during the quarter. If any segment is not doing well, the reasons for the same and the measures being taken are explained in detail. This quarterly reporting keeps the management on the toes. They cannot cover up any poor performance of any segment. If poor performance continues for a long time, it will be difficult to set the things right for the segment. So, it is better to know the drawbacks and other reasons at the carliest so that suitable remedial action is taken at the earliest. PERIOD OF STUDY ‘Two years ending Mareh 31, 2014 and March 31, 2015. TOOLS OF ANALYSIS () Common Size Statements (ii) Comparative Statements (iii) Ratios ABOUT THE COMPANY TATA POWER LIMITED Tata Power Limited was founded in 1910 by Mr Dorab Ji Tata with its headquarters in Mumbai. The chairman of the company is Mr, Natarajan Chandrasekaran and Mr. Praveer Sinha is the CEO and M.D. The company deals in Electric Power generation and also Natural Gas exploration and their distribution Pret Workin Aecoaney (Cas) 31 EEFounder Chairman CEO and MD ‘Me Dorab Ji Tato ‘Mr. Natarajan Chandrasekaran Mr. Praveer Sinha generation capacity is 10,577 MW. Iti India’s largest power company. In 2016 Tata Power made signific ns of acquisition of ‘Welspun Renewables lect inroads into renewable ene foc a pace ofUS $1 billion. It is the larg. ry market in India by m t acquisition in the renewabl oup holds around 32 SOURCE MATERIAL of shares of the company. The equity shares are traded on both BSE and NSE TATA POWER LTD. =e ‘Segment wise Revenue, Profits and Capital Employed Gin Crores) oe Year ended Particulars [31-Mar-15 31-Mar-14 (Audited) (Audited) ‘Segment Revenue (@) Power Business 25,420.37 25,492.58 (0) Coal Business 8,147.46 9,693.90 (©) Others 4,759.61 1,779.76 Total Segment Revenue 36,327.44 36,966.24 Less: Inter Segment Revenue 960.59 1,093.14 Revenue / Income from Operations (Net of Excise Duty) 34,366.85 | 35,873.10 Segment Results (a) Power Business 4,202.05 3,732.84 (0) Coal Business 926.07 1,089.41 (©) Others Erie 99.2219 ane sin Total Segment Results 5,167.34 4,833.36 Less: Finance Costs 3,699.27 3,439.90 Less: Exceptional Item-Power Business E - ‘Add / (Less): Unallocable Income! (Expense) (Net) 15.87 (418.39) Profit Before Tax 1,483.74 975.07 Capital Employed (2) Power Business 45,900.68 43,510.62 (©) Coal Business 9,270.82 9,238.91 (©) Others 1,270.93 41,165.05 Unallocable (98,750.95) (98,283.85) Total Capital Employed 15,630.73 és reais) Source : www.tatapower.com By = Goyal Brothers PrakashanPROCEDURE ADOPTED (Common size statements for Revenue, Profit and Capital Employed will be prepared for the years ending March31, 2014 and 2015. These will indicate the contribution made by each segment in Revenue, Profit and also showing how they are using their respective share of Capital Employed. On the basis of this analysis some conclusion will be derived. (ii) Return On Investment (ROI) and Net Profit Ratio will be calculated for each segment for both the years ending March31, 2014 and 2015, (iii) Two Comparative Statements based on the ROI and Net Profit Ratio will be prepared to judge the performance of these segments. The relatives figures will help in deriving some good conclusion. PROCESSING THE DATA () Common Size Statement of Revenue TATA POWER LTD. Common Size Statement of Revenue For the year ended March 31, 2014 in Crowes) as Segment Angles “(@) Power Business 25,492.58 248° Coal Business 9,693.90 95 Others 1,779. 36,966.24 oe Coal Business. Others, Pie Diagram depicting revenue share of various segments Comments : Power Business is at the top in the year ended March 31, 2014 Caleulation for Year 2014 25,492.58 s = S258. 100 = 68.96% © Power Business = FONE 4 9,693.90 Coal Business = x 100 = 26.23% Oli: 36,966.24 1,779.76 Others = 272-78. 199 = 4.81% © Others = 36,966.24 Project Work in Accountancy (Class-XI1) 33TATA POwE| Common Size Stal For the ys Segment dod Mi Power Business, (b) Coal Business: Revenue Amount (©) RLTO, nt of Reve jaroh 31, 2018 (Cin Crov Porcentage of Total | Anates 26,420.37 71.06% 250" 6,147.40 23.07% 63" (©) Others 1.76901 4.08% [eases Total | ‘36,927.44 | 100 360" Ple Diagram depicting revenue share of mts Power Business is at the top in the year ended Calculations for Your 2018 25,420.47 © Power Business 7 * 100 = 71,95: 35,327.44 A147.46 © Coal Business * 100 = 23.07% 45,327.44 © Oth see 100, he 35,327.44 4.98% (il) Common Size Statement of Results (Profits) TATA POWER LTD. Common Sizo Stat Coal Business various segments March 31, 2015 nt of Results For the yoar ending March 31, 2014 in Crores) Profit Amount (%) | Percentage of Total | Anglos | 3,732.04 77% ‘| az | 1,069.41 22% 792 aut % 36° | 433.36 100 _— 360" 34 Goyal Brothers PrakashanCs gE Coal Business ‘ Bo. Others Pie Diagram depicting share of profit contributed by each segment Comments : Power Business is at the top in the year ended March 31, 2014 Calculations for Year 2014 3,732.84 Power Business * 100 = 77% ° ness = aa yg ~ 100 = 77% © Coal Business = 00 = 22% © Others = 4 199 = 1% 4,833.3 TATA POWER LTD. Common Size Statement of Results For the year ending March 31, 2015 & in Crores) _ Segment Profit Amount (2) centage of Total | Angles [(@) Power Business | 4,202.05 81.31% 292" | | (0) Coal Business | 926.07 17.92% fy or s65t |(©)_ Others lees 39.22 077% x | Hae i 100 60° a Coal Business we a Others Pie Diagram depicting share of Profit contributed by each segment ‘Comments : Power Business is at the top in the year ended March 31, 2015. Project Work in Accountancy (Class-XII) 35 077%Calculations for year 2015 4,202.05 © Power Business < 100 = 81.31% F 5,167.34 92607 © Coal Business 100 = 17.92% 516734 h ee 10 0.77 © Others = 222 x 100 = 0.77% 516734 {ill) Common Size Statement of Capital Employed TATA POWER LTD. Common Size Statement of Capital Employed For the ye ‘ending March 31, 2014 @ in Crores) os Tea nea aoe ESS eT SASS (@) Power Business 43,510.62 80.70% 290° (0) Coal Business 9,238.91 17.14% 62" (©) Others | 4,965.05 Bizcxieaas Suess Total 53,914.58 Gly waeen00 ser | BB rower Business Coal Business Others 216% énere Pie Diagram depicting share of capital employed of each segment Comments : Power Business is at the top in the year ended March 31, 2014 Caleulation for Year 2014 43,510.62 © Power Business = 43:510.62,. 199 _ a 2994 er Business = TOS. 109 = $0.70% 4 9,238.91 © Coal Business = 223891. 199 17.1404 Baio samuel 16% 1,165.05 . Se SS ope Others = Fares 100 = 2.16% TATA POWER LTD. Common Size Statement of Capital Employed For the year ending March 31, 2015 in Crores)Power Businoss Coal Business Others Ple Diagram depicting share of capital employed of each segment ‘Comments = Power Business is at top in the year ended March 31, 2015 Calculations For Year 2015 45,900.68 9 — 56,442.43, re 9227082. 499 479 56,442.43 ee 93 56,442.43 © 100 = 2% SUMMARY OF COMMON SIZE ST, ;ATEMENT OF ALL SEGMENTS eonenca Revenue pahae | ees zi Profit £ ea Capit | : ara | 20s | 20a | aos) 201 | (%) (%) (%) (%) (%) (e) Power Business 68.96 1.95 7 =| 8131 | 80.70 (0) Coal Business 26.23 23.07 Zieh i7.02 17.44 (©) Others 4.81 4.98 1 077 2.16 Total [100 [100 | 100 «fs 400, «| t00 (iv) Comparative Statement of Segment-Wise Net Profit Ratio TATA POWER LTD. Comparative Statement of Net Profit Ratio For the year ended March 31, 2014 and 2015 Segment 2014 (@) Power Business 14% (0) Coal Business 1% 037 (©) Others. 1.75% 0.45 | Absolute C! *Formula ge =§ eer ‘ormula for Relative Change = Fee igure Project Work in Accountancy (Class-X1)) ital Employed [2018 } | 81 | 7 2 100 (in Crores) Relative change" 17.86% 3.36% 25.7% -oPorcentage Change x Power Coal__—_Others Business Business Segments Relative Change in Net Profit Ratio Net Profit Calculation of Net Profit Ratio : Formula for Net Profit Ratio = N&tProfit 199 Revenue (a) For Year 2014 3,732.84 © Power Business = 2273284 199 — 1405 Power Business = 327. sy 100 © Coal Business = 1069-41 199 — 119% 9693.90 © others = 31 199 = 1.750% 1779.76 (b) For Year 2015 © Power Business = 4202.05 199 — 16.504 2542037 © Coal Business = 226.07 199 — 11.3796 8147.46 © Others = 3922 199 = 2.2% 1759.61 ive Statement of Segment wise Return On Investment TATA POWER LTD. Comparative Statement of Return On Investment = a For the year ended March 31, 2014 and 2015 in Croves) | Segment 2014 [Era Absolute change | Relative change" (@) Power Business 8.58% 9.15% 087 6.64% () Coal Business 157% 9.99% (1.58) (13.65)% (6) Others 2rNe 3.08% 038 14.07% A ; Formula for Relative Change ~ Absolute Change , 19 Base year figure 4] 38 Goyal Brothers Prakashany 1% UBB povw ssiens oo Col Business 70} Others: & 60+ 2 sot % aot = 9 bo 40: 0 as ‘aon segment Relative Change in Return on Investment 4 Profit Calculation of Return on Investment : Formula for ROL = — Capital Employed (a) For Year 2014 100 3,732.84 ° Business = —7>*4 199 = 8.58% Power Bu: aasigen “100 > 858 1,069.41 ‘oal Business = 9°" x 109 = 11.57% © Coal Bi Saae91 ~100 = 1S © Others = EL x 199 = 2.7% 1,165.05 (b) For Year 2015 = 4202.05 100 = 9.15% 45,900.68 926.07 ness = 100 = 9.99% © Coal Business = 5775 37 39.22 " © Others = Trap 95 100 = 3.08% INCLUSION ‘© From the above analysis it appears that the Power Business is the best on all accounts. It's contribution towards Revenue has improved from 68.91% in 2014 to 71.95% in 2015, Its contribution towards profit has also improved from 77% in 2014 to 81.31% in 2015. However, it seems to be using comparatively higher share of Capital Employed both in 2014 80.7%) and 2015 (819%). There seems to be some excess capital at the disposal of Power Business which can be used in other segments. © Share of Coal Business in Revenue has gone down from 26.58% in 2014 to 23,07% in 2015, and from 22% in 2014 to 17.92% in 2015 in profit. This is not encouraging. The excess capital employed in Power Business can be shifted to Coal Business because of its better Net Profit Ratio, though its, RO! is almost the same as that of Power Business. Project Work in Accountancy (Class-X1)) 39@ The performance of ‘Others’ segment on the basis of revenue and profit is the worst of all. Though its Net Profit Ratio and ROI has improved, some available excess Capital Employed should be diverted of to this segment to improve upon the performance of this segment as its ROI and Net Profit Ratios are showing positive trends as per the comparative statement of both ROI (14.07% increase) and Net Profit Ratio (25.7% increase). These are even better than those of Power Business. This means that there is life in the segment also. The company should pay special attention to this segment. | VIVA VQ yn ECCTIONNG