Orígenes y evolución - Introducción a la inteligencia emocional

1. Introducción a la inteligencia emocional

1.1. Orígenes y evolución

NET PROFIT RATIO

NET ET PROFITPROFIT RATIO

RATIO

Interpretation:

The he NeNet t prprofofit it is is ththe e fifinanal l prprofofit it of of ththe e cocompmpanany y afafteter r dededuductctining g alall l ththee expenditures.

expenditures. The The profit profit percentage percentage for for the the year year 2008-09 2008-09 was was 14.63%. 14.63%. ThoughThough th

therere e is is hheeavavy y amamoouunt nt lelevivied ed oon n DeDeprprececiaiatitioon n anand d DDefefererrered d RRevevenenueue Expenditure. So, this could be further improved by in decreasing the expenditure Expenditure. So, this could be further improved by in decreasing the expenditure or increasing the sales.

or increasing the sales.

Observations:

1.. TTheherre e is is poposisititivve e NNeet t prproofifit t in in tthe he ccururrrenent t yyeaearr..

2.. TThheerre e is is ddeeccrreeaasse e in in tthhe e iinntteerreesst t cchhaarrggeess..

The firm was running with negative results before one year, but The firm was running with negative results before one year, but tu

turnrned ed to to mamaxiximimizezed d lelevevel l lalast st yeyear ar anand d mamainintatainined ed ththe e sasame me ststratrategegy y of of ma

maxiximimizizing in ng in ththe e cucurrrrenent t yeyear alsoar also. . ThThis is is is dudue e to incrto increaease in se in sasaleles s anandd decrea

decrease in the interest buse in the interest burden. rden. So, it could be said that thSo, it could be said that the firm not improve firm not improveded its overall performance level by decreasing its efficiency levels.

its overall performance level by decreasing its efficiency levels.

BASED ON INVESTMENT:

PROFIT BEFORE TAX PROFIT BEFORE TAX RETURN

RETURN ON ON INVESTMENT INVESTMENT = = X X 100100 CAPITAL EMPLOYED

CAPITAL EMPLOYED

The Return on investment states the efficiency or otherwise with which the firm The Return on investment states the efficiency or otherwise with which the firm is operated.

is operated.

Table 4.17:

Table 4.17: Year wise Return on Investment. Year wise Return on Investment.

(Rs. in Crore) (Rs. in Crore)

PROFIT PROFIT

BEFOR BEFOR E

E TAX TAX

2000011--0022 22000022--0033 22000033--0044 22000044--0055 22000055--0066 22000066--0077

PROFIT BEFORE PROFIT BEFORE TAX

TAX

--7755..115 5 552200..668 8 11554477..1188 22110055..1155 11888899..5511 22222222..3344

CAPITAL CAPITAL EMPLOYED EMPLOYED

4772277..882 2 44446611..442 2 44994422..6677 77006644..6666 88774422..4400 1100113344..2266

RETURN ON RETURN ON INVESTMENT

INVESTMENT --11..5599 1111..6677 3311..8811 3311..9900 2211..6611 2211..9933

-5

RETURN ON INN ON INVESTVEST MMENTENT

RETURN ON

earning capacitg capacity of the capitay of the capital employel employed by the firm. d by the firm. That is, the fiThat is, the firm is able torm is able to generate 21.93% of profit for the capital employed by the firm.

generate 21.93% of profit for the capital employed by the firm.

Observations:

1. There is There is increase increase in Sales evin Sales every yearery year..

2. There is There is improvemimprovement in the ent in the profitability (profitability (EBT).EBT).

3. There is There is increase increase in the Cain the Capital Employed.pital Employed.

The ratios, which were negative before last year i.e., till the year 2002, have The ratios, which were negative before last year i.e., till the year 2002, have improved there after i.e., from 2003. That is, from –1.57 to 11.67 in 2001-02, then improved there after i.e., from 2003. That is, from –1.57 to 11.67 in 2001-02, then to 31.81 in 2003-04 and then to 31.90 in 2005 and then to 21.61 in 2006 has been to 31.81 in 2003-04 and then to 31.90 in 2005 and then to 21.61 in 2006 has been decreased..

decreased.. This This shows shows that that there is there is improvement improvement in tin the ratio. he ratio. The The improvementimprovement in the ratio is due to increase in profitability (EBT), which is due to increase in in the ratio is due to increase in profitability (EBT), which is due to increase in sales and decrease in in

sales and decrease in interest charges. terest charges. This shows thThis shows that the firm improved a loat the firm improved a lot int in it

The Return on Net Worth is also known as proprietors` net capital employed.

The he rerettururn n sshohoululd d be be ccalalcuculalatted ed wwitith h rereffererenence ce to to prproofifitts s bbeleloongngining g ttoo shareholders, and therefore, profits shall be net profit after interest and tax.

shareholders, and therefore, profits shall be net profit after interest and tax.

Table 4.18:

Table 4.18: Year wise Return on Net Worth (Rs. in Crore) Year wise Return on Net Worth (Rs. in Crore)

PAARRTTIICCUULLAARRSS 22000011--0022 22000022--0033 20200033--0044 22000044--0055 22000055--0066 22000066--0077

EARNINGS AFTER EARNINGS AFTER TAX

TAX

--7755..1155 552200..6666 11554477..1188 22000088..0099 11225522..3377 11336633..4433

NEET T WWOORRTTHH 22774444..4477 33228866..0022 44885511..7799 66887788..3322 77554466..3333 77553333..5544

REETTUURRN N OONN NET WORTH NET WORTH

--22..7744 1155..8855 3311..8888 2299..1199 1166..5599 1188..0099

-5 -5 0 0 5 5 10 10 15 15 20 20 25 25 30 30 35 35

RETURN O

RETURN ON N NETWONETWORTHRTH

RETURN ON NET RETURN ON NET WORTH

WORTH

Interpretation:

The Retu

The Return on Net worth ratio forn on Net worth ratio for the year 2006-07 war the year 2006-07 was 18.09%s 18.09%. . This shoThis showsws th

that at ththe e fifirm rm is is abable le tto o gegennereratate e a a reretuturn rn oof f 1515% % (a(apppp.) .) on on tthe he ffunundds s oof f share

shareholdeholders. rs. This indiThis indicates that the firm has well the utilcates that the firm has well the utilized the resourcized the resources of es of owners to generate return on the funds of owners.

owners to generate return on the funds of owners.

Observations:

1.. TThheerre e iis s iinnccrreeaasse e iin n SSaallees s eevveerry y yyeeaarr..

2.. TTheherre e is is iimmprproovevemmenent t in in ththe e prprooffititaabibilility ty ((EAEATT))..

3.. TThheerre e iis s ddeeccrreeaasse e iin n NNeet t WWoorrtthh..

The ratio had fallen to –2.74% in 2001-02, and then increased to 15.88% in The ratio had fallen to –2.74% in 2001-02, and then increased to 15.88% in

2002-03, and then to 31.88% in 2003-04 and then

03, and then to 31.88% in 2003-04 and then 29.19% in 2004-05 and then 16.59%29.19% in 2004-05 and then 16.59%

in 2005

in 2005-0-06 6 anand d ththen 18.en 18.09 in 09 in 20200606-0-07. 7. ThThis shois shows thaws that t ththere is ere is a a grgreaeateterr imp

improvrovemeement in nt in the ratthe ratio. io. The impThe improvrovemeement in nt in the ratthe ratio is io is due to incredue to increase inase in profitability.

profitability.

NET PROFIT AFTER INTEREST NET PROFIT AFTER INTEREST BEFORE TAX

BEFORE TAX RETURN ON CAPITAL =

RETURN ON CAPITAL = X 100X 100

SHARE CAPITAL SHARE CAPITAL

The Return on Capital (Equity) ratio indicates what kind of rate of return was The Return on Capital (Equity) ratio indicates what kind of rate of return was earned on Book value of

earned on Book value of owners` equity.owners` equity.

Table 4.19:

Table 4.19: Year wise Return on capital employed. Year wise Return on capital employed.

(Rs. in Crore) (Rs. in Crore)

PARTICULAR PARTICULAR

S 22000011--002 2 22000022--003 3 22000033--0044 22000044--0055 22000055--0066 22000066--0077 22000077--0088 22000088--0099

PROFIT PROFIT BEFORE

BEFORE TAX TAX

--7755..115 5 552200..668 8 11554477..1188 22225533..7777 11888899..5511 22222222..3344 22999955 22002277

SHARE SHARE CAPITAL CAPITAL

7882277..331 1 77882277..331 1 77882277..3311 77882277..3311 77882277..3311 78782277..3311 77882277..3311 77882277..3311

RETURN ON RETURN ON CAPITAL CAPITAL EMPLOYED EMPLOYED

-0.96

-0.96 6.656.65 19.7719.77 2288..7799 2244..1144 2288..3399 38.2638.26 25.8925.89

-5 -5 0 0 5 5 10 10 15 15 20 20 25 25 30 30 35 35 40 40

RETURN ON CAPITAL RETURN ON CAPITAL

RETURN ON RETURN ON

CAPITAL EMPLOYED CAPITAL EMPLOYED

Interpretation:

The Retuhe Return on rn on cacapipitatal l in the year 200in the year 2008-8-09 was 25.09 was 25.8989%. %. ThThis ratiis ratioo indicates that the firm is able to generate 29.89% of return earned on the book indicates that the firm is able to generate 29.89% of return earned on the book value of share capital.

value of share capital.

Observations:

1. There is There is improvemimprovement in the ent in the firm’s profirm’s profitability (EATfitability (EAT) when ) when compared compared to previoto previous years.us years.

2. The shThe share care capitaapital was conl was constastant in all the ynt in all the yearears.s.

The performance of

The performance of the firm was lothe firm was low in the previouw in the previous years. s years. But it turnBut it turned out toed out to profitability position

profitability position in the current in the current year. year. The improvement The improvement in the ratio in the ratio is due tois due to inc

increarease in profitse in profitabiabilitlity y (EA(EAT) of the firm. T) of the firm. ThiThis shows shows s ththat the firm is at the firm is ablable e toto increase the return of its shareholders.

increase the return of its shareholders.

NET PROFIT BEFORE TAX NET PROFIT BEFORE TAX RETURN

RETURN ON ON GROSS GROSS BLOCK BLOCK = = X X 100100 GROSS BLOCK

GROSS BLOCK

The Return on Gross Block establishes a relationship between Net profit and The Return on Gross Block establishes a relationship between Net profit and Gross Fixed asset.

Gross Fixed asset.

Table 4.20:

Table 4.20: Year wise Return on Gross Block(Rs. in Crore) Year wise Return on Gross Block(Rs. in Crore)

-5

The Return on Gross Blorn on Gross Block for the year 2008-0ck for the year 2008-09 was 22.509 was 22.50%. %. This ratiThis ratio showso shows that a return of 25%(app) earned on the investment of capital in fixed assets.

that a return of 25%(app) earned on the investment of capital in fixed assets.

Observations:

The Return on Gross Block was negative before 2003, but there was a constant The Return on Gross Block was negative before 2003, but there was a constant betterment in the ratio every year. It has increase from negative value to 5.96%

betterment in the ratio every year. It has increase from negative value to 5.96%

in 2003, and then to 17.76 in 2004 and then to 25.72 in 2005 and then 21.39 in in 2003, and then to 17.76 in 2004 and then to 25.72 in 2005 and then 21.39 in 2006 and 25.04 in 2007 and then to 33.64 in 2008 and then to 22.50 in 2009.

2006 and 25.04 in 2007 and then to 33.64 in 2008 and then to 22.50 in 2009.

This shows that the firm has not been improved its efficiency.

SUMMARY SUMMARY

The Visak

The Visakhapahapatnam Steetnam Steel Plant is the most modern intl Plant is the most modern integrateegrated steel plantd steel plant. . It isIt is the only shore-based plant in India for producing 3 million tones of steel from India.

the only shore-based plant in India for producing 3 million tones of steel from India.

Visasakhkhapapatatnanam m StSteeeel l PlPlanant t prprododucuces es a a vavaririetety y of of prprododucucts ts ususining g ththe e fafaststesestt technology availab

technology available. le. Visakhapatnam Visakhapatnam Steel Plant Steel Plant has only has only the technolothe technology but algy but alsoso the kno

the knowlewledge of its custodge of its customer needmer needs. s. ThThe e RINRINL has L has alsalso estabo establislished a hed a deadealerler network to effectively serve the growing demand for Vizag Steel.

network to effectively serve the growing demand for Vizag Steel.

Financial management is that managerial activity, which is concerned with the Financial management is that managerial activity, which is concerned with the planning and controlling of the firm’s financial resources, its activities, and the mix planning and controlling of the firm’s financial resources, its activities, and the mix of debt and

of debt and equity which is noequity which is nothing but its Cthing but its Capital Structure. apital Structure. The financial managerThe financial manager must strive to obtain the best financing mix or the optimum capital structure for his must strive to obtain the best financing mix or the optimum capital structure for his or her firm.

or her firm.

The he ananalalysysis is of of fifinanancnciaial l ststatatememenents ts isis, , ththusus, , an an imimpoportrtanant t aiaid d to to fifinanancnciaiall ana

analyslysis. is. UseUsers of rs of finfinancancial statial statemeements can get nts can get furfurthether r insinsighight t aboabout finanut financiaciall strengths and weaknesses of the firm if they properly analyze information reported strengths and weaknesses of the firm if they properly analyze information reported in these statement

in these statements. s. The future plans oThe future plans of the firm should be f the firm should be laid down in view olaid down in view of thef the firm’s financial strengths and weaknesses.

firm’s financial strengths and weaknesses.

Rat

Ratio analio analysiysis is s is a widela widely – y – useused tool of financd tool of financial anaial analyslysis. is. RatRatio is io is usused as aed as a benchmark for evaluatin

benchmark for evaluating the financial posg the financial position and performance ition and performance of a firm. of a firm. As a toolAs a tool of financial managem

of financial management, ratios are ent, ratios are of crucial significance. of crucial significance. Ratio analysis Ratio analysis is relevantis relevant in assessing the performance of a firm in respect to the following aspects:

in assessing the performance of a firm in respect to the following aspects:

•

• Liquidity positionLiquidity position

•

• Long – term solvencyLong – term solvency

•

• OperationaOperational l efficiencyefficiency

•

• Overall profitabilityOverall profitability

•

• Inter – firm Inter – firm comparisocomparison, andn, and

•

• Trend analysis Trend analysis

SUMMARY OF RATIOS ANALYSIS IN

SUMMARY OF RATIOS ANALYSIS IN VSP/RINL:VSP/RINL:

Ratio analysis is the technique to know the financial position of the company.

Ratio analysis in Visakhapatnam Steel Plant is very important as it indicates the Ratio analysis in Visakhapatnam Steel Plant is very important as it indicates the liquidity, solvency and profitability position of the VSP.

liquidity, solvency and profitability position of the VSP.



 Liquidity ratios i.e., Quick Liquidity ratios i.e., Quick ratio and Cash raratio and Cash ratio are up to the convetio are up to the conventional ratios. ntional ratios. So, itSo, it could be further improved by decreasing its Current liabilities and increasing its Current could be further improved by decreasing its Current liabilities and increasing its Current assets in par with its

assets in par with its requirementsrequirements..



 AlthoAlthough Debt – Equity ratio is low, it is in ugh Debt – Equity ratio is low, it is in a satisfa satisfactoactory positry position. ion. UndeUnder unfavor unfavorablerable conditions lower Debt/Equ

conditions lower Debt/Equity is desirable. ity is desirable. The increase in the interest covThe increase in the interest coverage ratio showserage ratio shows that the firm has improved its ability to a greater extent in handling fixed charge liabilities.

that the firm has improved its ability to a greater extent in handling fixed charge liabilities.

Also the Proprietary ratio is in satisfactory state.



 InvInvententorory y turturnovnover er raratio tio hahas s impimproroveved d in in the the curcurrenrent t yeyearar, , shoshows ws the the opeoperaratiotionalnal effi

efficiencciency of y of the firm in managing the inventthe firm in managing the inventorieories. s. The increThe increase in the ase in the DebtDebtors turnoors turnoverver ratio and decrease in the Debtors collection period shows the effective management of ratio and decrease in the Debtors collection period shows the effective management of debtors/cre

debtors/credit dit sales.sales.



 There is a Net Pr There is a Net Profit in the current yearofit in the current year. . All the profitability raAll the profitability ratios basing on investmetios basing on investmentnt like return on investment, net worth, capital and gross block which were negative in the like return on investment, net worth, capital and gross block which were negative in the previous years

previous years. . But turned positive and has yielded reasoBut turned positive and has yielded reasonable results in the current year.nable results in the current year.



 The analysis for the purpose of the investing in shares generally concentrates on the The analysis for the purpose of the investing in shares generally concentrates on the return on equity of VSP, which is

return on equity of VSP, which is increasing; thereforincreasing; therefore the shares may be purchased.e the shares may be purchased.

SUGGESTIONS SUGGESTIONS

Some of the Suggestions drawn from the findings of the ratio analysis for the Some of the Suggestions drawn from the findings of the ratio analysis for the better performance of VSP/RINL are as follows.

better performance of VSP/RINL are as follows.



 The liquidity Position of The liquidity Position of the firm is increasing, wthe firm is increasing, which is evident from the fhich is evident from the findings. indings. EvenEven though the Curre

though the Current ratio is increant ratio is increasing steadily every ysing steadily every year. ear. It is still far from sIt is still far from satisfactioatisfaction.n.

As against

As against the convethe conventional ratio ntional ratio 2:1. 2:1. It is stIt is still only 1.5ill only 1.59:1. 9:1. The samThe same way te way the quick rahe quick ratiotio needs to be improved further.

needs to be improved further.



 T Thohougugh h ththe e cocompmpanany y hahas s rerecocordrded ed vevery ry gogood od imimprprovovememenent t in in mamananaginging g ththee inventories and Debt

inventories and Debtors. ors. The firm was noThe firm was not able to generate the rt able to generate the reasonable turnoeasonable turnover overver over the fixed asse

the fixed assets. ts. So, this calls for fSo, this calls for further improurther improvement in the ratvement in the ratio, by generating mio, by generating moreore sales.

sales.



 The company has re The company has recorded profits in the current yeacorded profits in the current year for the last 5 years. r for the last 5 years. It is due toIt is due to the fact that vast impro

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