CHAPTER – III

OVERVIEW OF AIRLINE INDUSTRY

1. International Airlines

International airlines are a group of the largest, most high-profile, and most successful
airlines. They make billions in revenue each year and operate large passenger jets. These
airlines also tend to focus their efforts on offering global services, carrying passengers and
cargo over large distances.

Additionally, international airlines usually employ tens of thousands of people, often have
multiple hubs, and will provide access to hundreds of destinations. Examples would include
Delta Air Lines and American Airlines. According to the Air travel statistics 2023 report by
OAG, the largest airline in 2023 was Southwest, with a total of 619 billion Available Seat
Kilometers (ASKs).

2. National Airlines

National airlines represent the next step down from the largest international airlines. They
will typically offer both medium-sized and large-sized jets and will often focus on offering
services to areas within their home country. Still, many will offer access to international
destinations too.

A national airline will still likely employ thousands of people but will have a smaller fleet
size. In many cases, the destinations they offer flights to are influenced by seasonal
fluctuations in demand.

3. Regional Airlines

Finally, as the name suggests, regional airlines are the smallest of the three main types and
focus on offering services within specific regions. In many cases, they provide passenger
services to parts of the world with lower levels of demand and where services are not offered
by either national or international airlines. Some regional airlines also function as affiliates
for national or international airlines. Within this context, they will typically provide
connection flights from the region they cover to the airline’s main hubs.
3.1 TOP TEN INTERNANTIONAL AIRLINES

1. Qatar Airways

Qatar Airways is the national airline of the State of Qatar. Based in Doha, the Airline’s
trendsetting on-board product focuses on: comfort, fine cuisine, the latest in-flight audio &
video entertainment, award-winning service and a modern aircraft fleet averaging around 5
years of age. Qatar Airways serves more than 150 key business and leisure destinations
worldwide, with a fleet of over 200 aircraft. The airline flies to Australia, Asia, Europe,
Middle East, Africa, North America, and South America.

2. Singapore Airlines

Singapore Airlines success has been fuelled by its dedication to customer service. In-flight
menus in all classes of service offer gourmet meals created by a panel of internationally
renowned chefs, and all customers can enjoy the carrier’s state-of-the-art in-flight
entertainment system, which offers a wide choice of movies, music and games. Together with
its budget carrier arm, Scoot, Singapore Airlines operates a fleet of more than 180 aircrafts,
with a combined passenger network that spans more than 110 destinations.

3. Emirates

Emirates connects the world to, and through, their global hub in Dubai. They operate modern,
efficient and comfortable aircraft, and their culturally diverse workforce delivers award-
winning services to their customers across six continents every day. Emirates current fleet
comprises 262 aircraft, with the airline serving 152 destinations.

4. ANA All Nippon Airways

ANA was founded in 1952 with two helicopters and has become the largest airline in Japan,
as well as one of the most significant airlines in Asia, operating 82 international routes and
118 domestic routes. ANA offers a unique dual hub model which enables passengers to travel
to Tokyo and connect through the two airports in the metropolitan Tokyo, Narita and Haneda,
to various destinations throughout Japan, and also offers same day connections between
various North American, Asian and Chinese cities. ANA has been a member of Star Alliance
since 1999.
5. Cathay Pacific Airways

The Hong Kong-based Cathay Pacific Group offers scheduled passenger and cargo services
to over 200 destinations in Asia, North America, Australia, Europe and Africa, using a fleet
of close to 200 aircraft. Cathay Pacific is a founder member of the oneworld global alliance.

6. Japan Airlines

Japan Airlines as founded in 1951 and has a modern fleet of more than 230 aircraft. It is one
of the world’s premier carriers and joine the oneworld Alliance in 2007. With four major
hubs in Tokyo, Osaka, Nagoya and Okinawa, Japan Airlines serves 95 destinations across 20
territories. An airline with a rich history and a reputation for defining the essence of
traditional Japanese hospitality, JAL is committed to providing guests with the highest levels
of flight safety and supreme quality in every aspect of its service.

7. Turkish Airlines

Founded in 1933 with a modest fleet of 5 aircraft, Star Alliance member Turkish airlines is an
airline company that flies to more than 300 destinations in the world with a fleet of more than
300 (passenger and cargo) aircraft. Turkish Airlines proudly carry the Turkish flag across the
globe, opening doors to the wider world for its passengers. Turkish Airlines uses the
statement “We fly to more countries than any other airline in the world”.

8. EVA Air

EVA Air was established in 1989, and is a member of Star Alliance. EVA serves a global
network that connects Asia and Mainland China to Europe, North America and Oceania and
links more than 60 major business and tourist destinations. EVA operates from their hub at
Taoyuan International Airport in Taiwan.

9. Air France

Air France turns the flight into a moment of real pleasure in all its daily operations. Air
France operates 1,500 daily flights in France, Europe and worldwide. Since 2004, Air France
and KLM have formed one of the leading European groups in the air-transport sector. From
their hubs at Paris-charles De Gaulle and Amsterdem-Schiphol, the Air France-KLM Group
offers its customers access to a network covering 312 destinations in 116 countries.
10. Swiss International Air Lines

SWISS is Switzerland’s largest airline. It operates direct flights from Zurich and Geneva to
keep Switzerland connected with Europe and the world. SWISS is part of the Lufthansa
Group and is also a member of Star Alliance, the world’s biggest airline network. The
company plans to halve its 2019 net carbon dioxide emissions by 2030 and make its business
and operations entirely carbon-neutral by 2050.
3.2 COMPANY PROFILE

Name of the company Tata SIA Airlines Ltd.

Type Public

Traded as Vistara

GSTIN 06AAECT8346F1Z8

PAN AAECT8346F

Industry Passenger Transportation Industry

Founder J.R.D. Tata

Founded year 05 November 2013

Headquarters New Delhi

Area served Worldwide

Services Transportation, Cargo, Baggage Handling,

Flight Information, Airport Facilities,
Shopping Services.
Number of employees 5500 employees

Parent Tata Sons Private Limited and Singapore

Airlines Limited(SIA)
Subsidiaries Tata Sons Private Limited and Singapore
Airlines limited (SIA) previously had a joint
venture called “Vistara”.
Website [Link]
airlines-vistara
Tata SIA Airlines Limited (trading as Vistara) was an Indian full-service airline, based in
Gurgaon, with its hub at Indira Gandhi International Airport. The carrier, a joint venture
between Tata Sons and Singapore Airlines, commenced operations on 9 January 2015 with its
inaugural flight between Delhi and Mumbai. The airline had carried more than two million
passengers by June 2016[4] and as of September 2024, had a 10.0% share of the domestic
carrier market, making it the 3rd largest domestic airline, behind IndiGo and Air India.[5]
The airline served 50[1] destinations with a fleet of Airbus A320neo, Airbus A321neo and
Boeing 787-9 aircraft.[6] On 12 November 2024, the airline's operations were ceased
following a merger with the country's flag carrier Air India.

SERVICES

1. CABIN

Business Class

On the Boeing 787-9 Dreamliner, Vistara offered 30 Stelia seats in a 1-2-1 configuration.
Vistara had 8 business class seats, two rows in 2-2 configuration, in its 158-seater Airbus
A320-200 fleet. These seats are still in use with Air India.

Premium Economy

Vistara was the first airline in India to introduce Premium Economy class in the domestic
market. It offered 24 premium economy seats, four rows in 3-3 configuration, out of a total of
158 seats in the single aisle Airbus A320-200 aircraft in its fleet. On the Boeing 787-9
Dreamliner, it had on most flights 21 RECARO seats in a 2-3-2 configuration. On one
aircraft the premium economy cabin had a 3-3-3 configuration and seats similar to the
economy class. These seats are still in use with Air India.

Economy

On the Boeing 787-9 Dreamliner, Vistara had 248 seats, manufactured by Recaro. They are
in a 3-3-3 configuration. These seats are still in use with Air India.

2. IN-FLIGHT ENTERTAINMENT
Vistara World is the airline's wireless Wi-Fi inflight entertainment system that travellers can
access on their personal handheld devices. Vistara selected a wireless IFE solution from
Bluebox Aviation Systems to enable this service.

3. CATERING

The in-flight food was catered by TajSATS Air Catering, another joint venture between Tata
and a Singaporean company, headed by Chef Arun Batra, formerly the executive chef of the
Taj Hotels group.

4. LOUNGE

On 29 March 2016, Vistara inaugurated premium lounge service for its Business-class
passengers and Club Vistara Platinum & Gold members at the departure level of Terminal 3
of Indira Gandhi International Airport at Delhi. The lounge is spread across 250 square
meters on the air-side and can seat 75 people at a time.

With effect from 1 April 2020, Vistara discontinued its Flagship Lounge at Terminal 3 of
Indira Gandhi International Airport in Delhi. Vistara then provided lounge access to their
eligible guests at the Plaza Premium Lounge at the Mezzanine Floor of Delhi Airport
Terminal 3.

5. FREQUENT-FLYER PROGRAME

Vistara used Club Vistara as its frequent-flyer program; it operated as a value-based program
and awarded points on the basis of money spent on tickets rather than miles travelled by
passengers. On 29 January 2015, Vistara announced a partnership agreement with Singapore
Airlines which would allow Club Vistara members to earn and redeem miles on Singapore
Airlines flights.

CHAPTER – IV
 DATA ANALYSIS AND INTERPRETATION

Data analysis and interpretation is the process of assigning meaning to the collected
information and determining the conclusions, significance and implications of the findings.
The steps involved in data analysis are a function of the type of information collected:
however, returning to the purpose of the assessment and the assessment questions will
provide a structure for the organization of the data and a focus for the analysis.

4.1 RATIO ANALYSIS

Profitability Ratios
 Gross profit ratio
 Net profit ratio
 Operating profit ratio
Efficiency Ratios
 Operating ratio
Short term solvency Ratios
 Current ratio
 Liquid ratio
Long term Solvency Ratios
 Debt equity ratio
 Asset turnover ratio

Profitability Ratio
[Link] Profit Ratio

Gross Profit is the revenue minus the cost of goods sold (COGS). It represents the amount of
money left over after subtracting the direct costs associated with producing goods or
providing services. Net Sales refers to the total revenue generated from sales after deducting
any returns, discounts, or allowances. The gross profit ratio indicates the proportion of each
sales dollar that contributes to gross profit, which is a key indicator of a company's
operational efficiency and profitability.

Gross Profit Ratio = Gross profit/Net sales*100

Year Gross Profit Net Sales Gross Profit

(in [Link].) (in [Link].)
Ratio(%)
2020 20.79 21.33 97.46
2021 35.58 35.60 99.94
2022 55.95 55.97 99.96
2023 64.17 64.18 99.98
2024 74.09 74.11 99.97

[Link] Profit Ratio

The Net Profit Ratio is a financial metric that measures the after-tax profitability of a
company relative to its revenue generated in the corresponding period. The net profit ratio
compares a company's reported net income to its revenue in the same period, expressed in the
form of a percentage.

Net Profit Ratio = Net profit/Net sales*100

Year Net Profit Net Sales Net Profit Ratio

(in [Link].) (in [Link].) (%)
 2020 1.09 21.33 5.11
2021 2.22 35.60 6.23
2022 3.33 55.97 5.94
2023 3.17 64.18 4.93
2024 3.71 74.11 5.00

[Link] Profit Ratio

The operating profit ratio reflects the efficiency of a company's operations in generating
profits from its primary business activities. A higher operating profit ratio indicates that the
company is managing its operating expenses effectively and generating a higher proportion of
profits from its core operations. Conversely, a lower ratio may indicate inefficiencies in
operations or higher operating expenses relative to sales revenue.

Operating Profit Ratio = Operating Profit/Net sales*100

Year Operating Profit Net Sales Operating Profit

(in [Link].) (in [Link].) Ratio
(%)
2020 20.79 21.33 97.46
2021 35.58 35.60 99.94
2022 55.95 55.97 99.96
2023 64.17 64.18 99.98
2024 74.06 74.11 99.93

Efficiency Ratio
[Link] Ratio
The Operating Ratio is a financial metric used to assess the efficiency of a company's core
business operations by measuring the proportion of operating expenses relative to its net sales
or revenue. It indicates how well a company manages its expenses in relation to its revenue
generation. Operating Expenses represent the costs incurred by a company in its dayto-day
operations to generate revenue. These expenses typically include costs such as cost of goods
sold (COGS), selling and administrative expenses, depreciation, and other operating
expenses. Net Sales refer to the total revenue generated from sales after deducting any
returns, discounts, or allowances.

Operating Ratio = Operating expenses+Cost of goods sold/Net Sales*100

Year Operating Cost of Net Sales Operating

expenses goods sold (in [Link].) Ratio
(in [Link].) (in [Link].) (%)
2020 0.00 0.54 21.33 2.53
2021 0.00 0.02 35.60 0.05
2022 0.00 0.02 55.97 0.03
2023 0.00 0.01 64.18 0.01
2024 0.00 0.02 74.11 0.02

Short term solvency Ratio

[Link] Ratio
The current ratio provides valuable insights into a company's short-term financial position
and is an essential tool for financial analysis and decision-making. However, it's crucial to
interpret the ratio in conjunction with other financial metrics and consider the specific context
of the company's industry and business operations.
 Current Ratio = Current Assets/Current liabilities

Year Current Assets Current Current Ratio

(in [Link].) Liabilities
(in [Link].)
2020 7.93 6.68 118.71
2021 8.69 5.04 172.42
2022 11.44 4.46 256.50
2023 14.89 4.43 336.11
2024 18.80 4.42 425.33

[Link] Ratio
A higher liquid ratio indicates a stronger ability to cover short-term obligations. However,
excessively high ratios might imply that the company is not efficiently utilizing its assets.
Conversely, a very low ratio may indicate liquidity issues and potential difficulties in meeting
short-term obligations.

Liquid Ratio = Current Assets-Inventories/Current liabilities

Year Current Assets Inventories Current Liquid

(in [Link].) (in [Link].) Liabilities Ratio
(in [Link].)
2020 7.93 -1.75 6.68 8.19
2021 8.69 0.04 5.04 8.68
2022 11.44 0.99 4.46 11.21
2023 14.89 -3.07 4.43 15.58
2024 18.80 0.69 4.42 18.64

Long term solvency Ratio

[Link] Equity Ratio
The Debt Equity (D/E) ratio is a financial metric used to measure a company's financial
leverage by comparing its total debt to its shareholders' equity. It indicates the proportion of
debt financing relative to equity financing in a company's capital structure. Total Debt
represents all outstanding debt obligations of the company, including both short-term and
longterm debt. It reflects the ownership interest of the shareholders in the company

Debt Equity Ratio = Total Liabilities/Shareholders Equity

Year Total Liabilities Shareholders Current Ratio

(in [Link].) Equity
(in [Link].)
2020 6.68 4.33 0.01
2021 5.04 6.55 0.007
2022 4.46 9.89 0.45
2023 4.43 13.06 0.33
2024 4.42 16.77 0.26

[Link] Turnover Ratio

Asset turnover is the ratio of total sales or revenue to average assets. This metric helps
investors understand how effectively a company uses assets to generate sales. Investors use
the asset turnover ratio to compare companies in the same sector or group.

Asset turnover ratio= Net sales/Average total assets

Year Net sales Average total Current Ratio

(in [Link].) asset
(in [Link].)
2020 21.33 11.04 1.93
 2021 35.60 11.61 3.06
2022 55.97 14.38 3.89
2023 64.18 17.51 3.66
2024 74.11 21.22 3.49

COMPARATIVE BALANCE SHEET

4.2.1 MEANING OF COMPARATIVE BALANCE SHEET

A comparative balance sheet is a statement that shows the financial position of an

organization over different periods for which comparison is made or required. The financial
position is compared with 2 or more periods to depict the trend, direction of change, analyse
and take suitable actions. Given the usefulness of the comparative balance sheet, most of the
business who have different business vertical, prepare a comparative balance sheet in
comparison with other business vertical. In preparing a comparative balance sheet, the items
are placed in rows, and years and amounts are shown in the columns.

COMPARATIVE BALANCESHEET 2020-2021

PARTICULARS 2019-2020 2020-2021 Increase / Percentage

Decrease
([Link].) ([Link].) %

EQUITY AND LIABILITIES

SHAREHOLDERS’S FUND

Equity Share Capital 3.2 3.2 0 0

TOTAL SHARE CAPITAL 3.2 3.2 0 0
Reserves and Surplus 1.13 3.35 2.22 196.4602
TOTAL RESERVES AND SURPLUS 1.13 3.35 2.22 196.4602
TOTAL SHAREHOLDERS FUNDS 4.33 6.55 2.22 51.27021
NON-CURRENT LIABILITIES

Long Term Borrowings 0 0 0 0

Deferred Tax Liabilities [Net] 0.03 0.01 -0.02 -66.6667
Other Long Term Liabilities 0 0 0 0
Long Term Provisions 0 0.02 0.02 100
TOTAL NON-CURRENT 0.03 0.03
LIABILITIES 0 0
CURRENT LIABILITIES

Short Term Borrowings 0 0 0 0

Trade Payables 6.32 4.53 -1.79 -28.3228
Other Current Liabilities 0.22 0.23 0.01 4.545455
Short Term Provisions 0.14 0.28 0.14 100
TOTAL CURRENT LIABILITIES 6.68 5.04 -1.64 -24.5509
TOTAL CAPITAL AND 11.04 11.61
LIABILITIES 0.57 5.163043
ASSETS

NON-CURRENT ASSETS

Tangible Assets 2.86 2.5 -0.36 -12.5874

Intangible Assets 0 0 0 0
Capital Work-In-Progress 0 0 0 0
Other Asstes 0 0 0 0
FIXED ASSETS 2.87 2.5 -0.37 -12.892
Non-Current Investments 0 0 0 0
Deferred Tax Assets [Net] 0 0 0 0
Long Term Loans And Advances 0 0 0 0
Other Non-Current Assets 0.24 0.42 0.18 75
TOTAL NON-CURRENT ASSETS 3.11 2.92 -0.19 -6.10932
CURRENT ASSETS

Current Investments 0 0 0 0
Inventories 1.85 2.12 0.27 14.59459
Trade Receivables 5.57 5.04 -0.53 -9.51526
Cash And Cash Equivalents 0.31 1.26 0.95 306.4516
Short Term Loans And Advances 0 0 0 0
Other Current Assets 0.2 0.28 0.08 40
TOTAL CURRENT ASSETS 7.93 8.69 0.76 9.583859
TOTAL ASSETS 11.04 11.61 0.57 5.163043

COMPARATIVE BALANCESHEET 2021-2022

PARTICULARS 2020-2021 2021-2022 Increase/ Percentage

([Link].) ([Link].) Decrease %

EQUITY AND LIABILITIES

SHAREHOLDERS’S FUND

Equity Share Capital 3.2 3.2 0 0

TOTAL SHARE CAPITAL 3.2 3.2 0 0

Reserves and Surplus 3.35 6.69 3.34 99.70149

TOTAL RESERVES AND SURPLUS 3.35 6.69 3.34 99.70149

TOTAL SHAREHOLDERS FUNDS 6.55 9.89 3.34 50.99237

NON-CURRENT LIABILITIES

Long Term Borrowings 0 0 0 0

Deferred Tax Liabilities [Net] 0.01 0 -0.01 -100

Other Long Term Liabilities 0 0 0 0

Long Term Provisions 0.02 0.03 0.01 50

TOTAL NON-CURRENT 0.03 0.03

LIABILITIES 0 0

CURRENT LIABILITIES

Short Term Borrowings 0 0 0 0

Trade Payables 4.53 3.93 -0.6 -13.245

Other Current Liabilities 0.23 0.54 0.31 134.7826

Short Term Provisions 0.28 0 -0.28 -100

TOTAL CURRENT LIABILITIES 5.04 4.46 -0.58 -11.5079

TOTAL CAPITAL AND

LIABILITIES
11.61 14.38 2.77 23.85874
ASSETS

NON-CURRENT ASSETS

Tangible Assets 2.5 2.85 0.35 14

Intangible Assets 0 0 0 0

Capital Work-In-Progress 0 0 0 0

Other Asstes 0 0 0 0

FIXED ASSETS 2.5 2.85 0.35 14

Non-Current Investments 0 0 0 0

Deferred Tax Assets [Net] 0 0 0 0

Long Term Loans And Advances 0 0 0 0

Other Non-Current Assets 0.42 0.08 -0.34 -80.9524

TOTAL NON-CURRENT ASSETS 2.92 2.94 0.02 0.684932

CURRENT ASSETS

Current Investments 0 0 0 0

Inventories 2.12 1.5 -0.62 -29.2453

Trade Receivables 5.04 9.11 4.07 80.75397

Cash And Cash Equivalents 1.26 0.79 -0.47 -37.3016

Short Term Loans And Advances 0 0 0 0

Other Current Assets 0.28 0.04 -0.24 -85.7143

TOTAL CURRENT ASSETS 8.69 11.44 2.75 31.64557

TOTAL ASSETS 11.61 14.38 2.77 23.85874

COMPARATIVE BALANCESHEET 2022-2023

PARTICULARS 2021-2022 2022-2023 Increase/ Percentage

([Link].) ([Link].) Decrease %

EQUITY AND LIABILITIES

SHAREHOLDERS’S FUND

Equity Share Capital 3.2 3.2 0 0

TOTAL SHARE CAPITAL 3.2 3.2 0 0

Reserves and Surplus 6.69 9.86 3.17 47.38416

TOTAL RESERVES AND SURPLUS 6.69 9.86 3.17 47.38416

TOTAL SHAREHOLDERS FUNDS 9.89 13.06 3.17 32.05258

NON-CURRENT LIABILITIES

Long Term Borrowings 0 0 0 0

Deferred Tax Liabilities [Net] 0 0 0 0

Other Long Term Liabilities 0 0 0 0

Long Term Provisions 0.03 0.02 -0.01 -33.3333

TOTAL NON-CURRENT 0.03 0.02

LIABILITIES -0.01 -33.3333

CURRENT LIABILITIES

Short Term Borrowings 0 0.34 0.34 100

Trade Payables 3.93 3.69 -0.24 -6.10687

Other Current Liabilities 0.54 0.4 -0.14 -25.9259

Short Term Provisions 0 0 0 0

TOTAL CURRENT LIABILITIES 4.46 4.43 -0.03 -0.67265

TOTAL CAPITAL AND 14.38 17.51

LIABILITIES 3.13 21.76634

ASSETS

NON-CURRENT ASSETS

Tangible Assets 2.85 2.49 -0.36 -12.6316

Intangible Assets 0 0 0 0

Capital Work-In-Progress 0 0 0 0

Other Asstes 0 0 0 0

FIXED ASSETS 2.85 2.49 -0.36 -12.6316

Non-Current Investments 0 0 0 0

Deferred Tax Assets [Net] 0 0.02 0.02 100

Long Term Loans And Advances 0 0 0 0

Other Non-Current Assets 0.08 0.1 0.02 25

TOTAL NON-CURRENT ASSETS 2.94 2.62 -0.32 -10.8844

CURRENT ASSETS

Current Investments 0 0 0 0

Inventories 1.5 4.97 3.47 231.3333

Trade Receivables 9.11 8.78 -0.33 -3.62239

Cash And Cash Equivalents 0.79 0.77 -0.02 -2.53165

Short Term Loans And Advances 0 0 0 0

Other Current Assets 0.04 0.37 0.33 825

TOTAL CURRENT ASSETS 11.44 14.89 3.45 30.15734

TOTAL ASSETS 14.38 17.51 3.13 21.76634

COMPARATIVE BALANCESHEET 2023-2024

PARTICULARS 2022-2023 2023-2024 Increase/ Percentage

([Link].) ([Link].) Decrease %

EQUITY AND LIABILITIES

SHAREHOLDERS’S FUND

Equity Share Capital 3.2 3.2 0 0

TOTAL SHARE CAPITAL 3.2 3.2 0 0

Reserves and Surplus 9.86 13.57 3.71 37.62677

TOTAL RESERVES AND SURPLUS 9.86 13.57 3.71 37.62677

TOTAL SHAREHOLDERS FUNDS 13.06 16.77 3.71 28.40735

NON-CURRENT LIABILITIES

Long Term Borrowings 0 0 0 0

Deferred Tax Liabilities [Net] 0 0 0 0

Other Long Term Liabilities 0 0 0 0

Long Term Provisions 0.02 0.03 0.01 50

TOTAL NON-CURRENT LIABILITIES 0.02 0.03 0.01 50

CURRENT LIABILITIES

Short Term Borrowings 0.34 0 -0.34 -100

Trade Payables 3.69 3.96 0.27 7.317073

Other Current Liabilities 0.4 0.46 0.06 15

Short Term Provisions 0 0 0 0

TOTAL CURRENT LIABILITIES 4.43 4.42 -0.01 -0.22573

TOTAL CAPITAL AND LIABILITIES 17.51 21.22 3.71 21.18789

ASSETS

NON-CURRENT ASSETS

Tangible Assets 2.49 2.3 -0.19 -7.63052

Intangible Assets 0 0 0 0

Capital Work-In-Progress 0 0 0 0

Other Asstes 0 0 0 0

FIXED ASSETS 2.49 2.3 -0.19 -7.63052

Non-Current Investments 0 0 0 0

Deferred Tax Assets [Net] 0.02 0.05 0.03 150

Long Term Loans And Advances 0 0 0 0

Other Non-Current Assets 0.1 0.07 -0.03 -30

TOTAL NON-CURRENT ASSETS 2.62 2.42 -0.2 -7.63359

CURRENT ASSETS

Current Investments 0 0 0 0

Inventories 4.97 4.24 -0.73 -14.6881

Trade Receivables 8.78 9.61 0.83 9.453303

Cash And Cash Equivalents 0.77 3.62 2.85 370.1299

Short Term Loans And Advances 0 0 0 0

Other Current Assets 0.37 1.33 0.96 259.4595

TOTAL CURRENT ASSETS 14.89 18.8 3.91 26.25923

TOTAL ASSETS 17.51 21.22 3.71 21.18789