Goltisho Home Hul Auditors Report. One, freight rates will fall. Your Company had informed the shareholders about the long-standing dispute with the former workers association of the former factory in Kodaikanal. We have little interest in floats produced anual shortages-derived market power. What power do such companies possess over their customers and suppliers, who happily or even unhappily finance their working capital Nescoor even the entire capital HUL employed by the business?
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When asked about the relative attractiveness of low-cost floats vs other forms of financing, he said:. I do maintain that even if they have a cost, the spread between the return on assets and that cost is quite large, and moreover that cost is less than hup of alternate financing.
Such a glut will have two consequences. In case of Kaveri, we have high inventories accompanied with high customer advances….
There were no material changes and commitments affecting the financial position of the Company which occurred between the end of the financial year to which this financial statements relate on the date of this report. In my view, Gujarat Gas would also qualify as an example.
In our opinion, the Company has, in all material respects, an adequate internal financial control system over financial reporting and such internal financial controls over financial reporting were operating effectively as at 31 Marchbased on the internal controls over financial reporting criteria established by the Company considering the essential components of internal huk stated in the Guidance Note issued by the ICAI.
These distributors are happy to give these deposits because it gives them exclusive distribution rights over a region. Accordingly, your Company has taken ambitious targets of year-on-year reductions in CO 2 emissions kg per tonne of productiongroundwater abstraction cubic meter per tonne of production and waste generation kg per tonne of production in its operations.
Rs, 2, croresas on feport March, This coupled with the high switching costs infrastructure is a source of an enduring moat. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal controls based on the assessed risk.
And Wal-Mart knows this, and uses this ahnual for the benefit of its customers and stockholders in the form of low prices and a free or very cheap float. Your Company is of the view that the menace of counterfeits can be effectively addressed if enforcement actions are supplemented with building awareness amongst the consumers of tomorrow. You will pay a large sum because the money you earn from the distributorship will be large enough to offset the interest forgone. Your Company has a robust system of recording and investigating safety incidents.
Just wondering, do you have a copy of the American Express annual report that you could re-post? So i did not include these in my calculations. Based on audit procedures and relying on the management representation, we report that the disclosures are in accordance with books of account maintained by annusl Company and as produced to. For a more detailed analysis of what I call as float and what Prof. And therein lies the problem.
So this amount of Rs 2, cr out of Rs 7, cr is neither trade credit nor advances from customers. In the case of Nesco, the potential to fully utilise the land is far off, but yes it puts a cap on growth from that asset except through inflation.
There has been no qualification, reservation, adverse remark or disclaimer given by the Auditors in their Report.
But, they have extended the same conservatism to dividends. To see how floats lever up returns on invested capital, consider that one of the consequences of a solid moat is that it enables a business possessing such a moat to earn excellent returns on its invested capital. I would not automatically assume that once the firm has used its single asset to its fullest potential, and all future cash flow will be paid out or used for stock buybacks etc.
But we would try to gain more float under those circumstances, too. The company has been debt free since Exceptional delight to read this post, wonderful clarity!
With a robust funnel of savings programme, your Company continued on its path of delivering consistent end-to-end cost savings and achieved savings of six per cent of the total cost. Under such circumstances, liabilities which are source of float should be valued fully on reporr balance sheet of company having access to that float.
This was supported by sustained usage of biogenic fuels across factories. Technicals Technical Chart Visualize Screener. Looks like the company has a sustainable moat based on the objective criteria mentioned by you. Specialized burners were installed to utilise heavy vegetable oil residue from DFA operations as fuel, substituting furnace oil.
During the year, your Company completed the acquisition of Indulekha Hair oil. The capex is almost negligible. Most Related.
Kigal Think of it this way. Your Company has an elaborate Risk Management procedure, which is based on three pillars: What kinds of companies can operate with negative working capital e. Your Company has also invested in rewiring processes and tools to transform into an amazingly simple organization. This power, moreover can weaken or strengthen over time. Accordingly, paragraph 3 xv of the Order is not applicable. Accordingly, the Management Committee reviews performance of categories basis new segments.
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Vikas, see my comments on Mahindra Holidays below where high receivables and accompanied with high customer advances. Professor- fantastic series of posts. But out of this Rs 7, cr, Other Long Term Liabilities Rs crLong Term Provisions Rs crOther Current Liabilities Rs cr and Short Term Provisions Rs cr — all these totalling to Rs 2, cr — are for employee related liabilties such as gratuity, pension, medical etc, provident fund, tax deducted at source, provision for dividend, taxes etc. Your Company acknowledges the excellent support it received in this regard from the Government and the local community. The enactment of the GST legislation has been a milestone reform that will create a win-win environment for all stakeholders and heralds an integrated and productive economy, and is expected to further boost economic growth.
HUL Annual Report- Related documents
HUL ANNUAL REPORT 2007-08 PDF