1.

Gross Working Capital

Mar 16 Mar-15 Mar-14 Mar-13 Mar-12

Gross Working 810.51 808 531.57 624.85 433.63

Capital
(In Rs Cr)

Gross working capital refers to the sum of all of the company's current
assets (assets that can be converted to cash within a year or less). It
includes assets such as cash, accounts receivable, short-term
investments, checking and savings account balances, inventory and
marketable securities. This, however, does not reveal the true financial
position of a company. Because a loan or borrowing can increase the
current assets of the company and, thus, will increase gross working
capital but, at the same time, it will also increase the current liabilities of
the company.

2.Net Working Capital

Mar 16 Mar- Mar-14 Mar- Mar-12
15 13
Current Assets (CA) 810.51 808 531.57 624.85 433.63

Current Liabilities 718.25 703.76 465.06 525.78 413.53

(CL)
NWC (CA-CL) 92.26 104.24 66.51 99.07 20.1

Current Ratio 1.128 1.148 1.143 1.188 1.048

(CA/CL)
Net Fixed Asset 266.15 245.64 197.63 188.42 142.3
(FA)
Level of CA (CA/FA) 3.045 3.289 2.689 3.316 3.047

Working Capital, also known as Net Working Capital, shows the total
amount of liquid assets available to the company to run its business. In
general, the more working capital, the lesser the financial difficulties a
company faces.
Net Working capital is a measure of companys operation efficiency and
short-term financial health. Positive working capital of Johnson Control
shows that it has enough funds to meet its short-term liabilities.
Net Working capital also provides very important information about a
companys financial condition for both investors and managements. For
investors, it helps them assess the ability for a company overcome
difficult financial periods. For management members, it helps them
predict any financial difficulties that may occur in future. Thus, increasing
net working capital of Johnson Control shows promising future of the
company for both the investors as well as management.

3.The Operating and Cash Conversion Cycle

Mar 16 Mar- Mar- Mar- Mar-12
15 14 13
COGS (In Rs Cr) 1,246.6 1,159.0 871.52 746.62 647.79
8 6
Inventories (In Rs 494.35 490.31 290.48 305.64 268.07
Cr)
Net Sales (In Rs 867.32 1,019.2 1,199.3 1,707.2 1,817.2
Cr) 1 5 6 3
Account 279.95 283.84 188.38 164.53 148.14
Receivables (In
Rs Cr)
Account Payables 452.57 498.76 304.16 347.34 258.69
(In Rs Cr)
Days' Inventory 144.73 154.40 121.65 149.41 151.04
outstanding (DIO)
Days' Sales 117.81 101.64 57.32 35.17 29.75
Outstanding
(DSO)
Days' Payables 190.45 178.61 92.56 74.25 51.95
Outstanding
(DPO)
Operating Cycle 262.54 256.05 178.98 184.59 180.79

Cash Conversion 72.08 77.43 86.42 110.33 128.84

Cycle (CCC)