CMS Business School

(Jain Deemed-to-be University)

Batch 2018-2020 - Semester II

Section-CF-2
COMPANY NAME” AEGIS LOGISTICS
Subject:ADVANCE FINANCIAL REPORTING
Assignment No: 01
Submitted to-Prof.PREETA CHANDRAN

STUDENT NAME REG NO SECTION

SHASHANK HT 18MBAR0426 CF-2
ABOUT THE COMPANY
Aegis Group plays a key role in India’s downstream oil and gas
sector, and its flagship company, Aegis Logistics Limited, is
India’s leading oil, gas, and chemical logistics company. Their
vision is to be the industry leader in our business segments by
delivering superior customer service with a focus on quality,
safety, and environmental standards. The Group has five
distinct but related business segments, and operates a network
of bulk liquid handling terminals, liquefied petroleum gas (LPG)
terminals, filling plants, pipelines, and gas stations to deliver
products and services. Their client base includes many leading
industrial companies in India as well as individual retail
customers whom we serve at our Aegis auto gas stations.

1. Analysis of Financial statements

BALANCE SHEET
Shareholders funds
 Share capital- From the above balance sheet we can see that
there no change in share capital when compared to the previous
year that is (previous year- 31/03/2016)
 Reserves and surplus – we can see that reserves and surplus in the
current year has been increased by 3617.24. The portion of
surplus which has increased results in retained earnings which has
an effect of , increasing shareholders equity.
Non -current liabilities
  Long tern borrowings – When compared to the previous year long
term borrowings has been decreased by 383.92.
 Deferred tax liability-When compared to the previous
yearDeferred tax liability has been increased by 454.23
 Other long term liabilities -When compared to the previous
yearOther long term liabilities has been increased by 34.71
 Long term provisions -When compared to the previous year long
term provisions has been increased by 153.4
Current liabilities
 Short term borrowings - When compared to the previous year ,
short term borrowings has been increased by 10692.13.
 Trade payables - When compared to the previous year , trade
payables has been increased by 1614.89
 Other current liabilities - When compared to the previous year ,
other current liability has been increased by 6134.63
 Short term provisions - When compared to the previous year ,
short term provisions has been increased by 352.24

ASSETS
NON CURRENT ASSETS
FIXED ASSETS
 Tangible assets -- When compared to the previous year tangible
assets has been increased by 7854.12
 Intangible assets - When compared to the previous year intangible
assets has been increased by 6.15
 Capital work in progress - When compared to the previous year
capital work in progress has been increased by 9089.18
 NON CURRENT INVESTMENT - When compared to the previous
year non-current investment has been decreased by 3438.02

LONG TERM LOANS AND ADVANCES -When compared to the

previous year long term loans and advances has been decreased
by 2328.64

CURRENT ASSETS
 Inventories - When compared to the previous year inventories has
been increased by 986.51.
 Trade receivables - - When compared to the previous year trade
receivables has been increased by 579.83
 Cash and cash equivalents-When compared to the previous year,
cash has been decreased by 930.42
 Short term loans and advances-- When compared to the previous
year short term loans and advances has been increased by
10763.64
 Other current assets - When compared to the previous year other
current assets has been increased by 87.21

PROFIT AND LOSS

INCOMES
 Revenue from operations- When compared to the previous year
other Revenue from operations has been increased by3376.65.
 Other income- When compared to the previous year other
Revenue from operations has been increased by 1009.28

EXPENSES
  Purchase of stock in trade -When compared to the previous year
purchases has been increased by 4360.68. The reason is that
company might have bought any fixed asset.
 Inventories –When compared to the previous year inventories are
in negative by 331.15
 Employee benefit expenses- -When compared to the previous
year employee benefit expense has been decreased by 161.53
 Finance cost - When compared to the previous year finance cost
has been decreased by 102.27
 Depreciation and Amortization - When compared to the previous
year Depreciation and amortization has been decreased by 15.94
 Other expenses - When compared to the previous year other
expenses has been decreased by 481.22
PROFIT - When compared to the previous year profit has been
increased by 2401.54. The reason is as the company has made more of
its sales or its revenue from operations is more hence the profit margin
also increases.

2.Analysis of directors report

 Operating performance
Revenue from operations increased marginally by 9.45% at Rs. 391.11
crores (previous year Rs. 357.35 crores), Profit before tax was
increased by 32.49% at 97.91crores ( Previous year was 73.90) and
Profit after tax was increased by 16.82% at 62.83 crores(Previous Year
was 53.87 crore).
 Dividend
 Directors declared 2 interim dividends for the Financial year
31/03/2016 where in the directors declared that the total
dividend would be 70% or 0.70 dividend per share of Rupee 1
each. The directors also conducted meeting on 31st May 2017
wherein it was decided that the total dividend would be 35% or
0.35 dividend per share of Rupee 1 each.
 New projects and Expansion
As the demand for LPG increased in Pipavav, expansion of LPG
storage got increased from 8100MT to 10300MT. The capacity will
be commissioned in FY 2017-18.

3 Analysis of Auditors Report

The statutory Auditors for Aegis Logistics is Deloitte Haskins and sells
LLP.The auditor responsibility is to examine the relevant records and
documents which are maintained by the company. The audit report
also speaks about the provisions of the act , the accounting and
auditing standards which are to be included in the auditors report, in
accordance with the provisions of the act and thereto.
The audit report also tells about the balance sheet , the statement of
profit and loss account and cash flow statement which are relevant
with the books of account, whether the financial statements comply
with the Accounting standards which are prescribed under section 133
of the act.
.Fixed assets were physically verified during the year ,in accordance
with the verification ,all the information and explanation given to the
auditors in respect of physical verification of assets no discrepancies
were found.
The company has not not defaulted in the repayment of loans or
borrowings to banks and dues to debenture holders.
According to section 177 of the companies act of 2013 all the
transaction with related parties and details of the related party
transactions has been disclosed in financial statements which is
required by the applicable accounting standards.
Inventories were also physically verified during the year and no
discrepancies were found.

4 . Analysis on Accounting standards and policies

Basis of preparation of financial statements
The financial statements have been prepared in accordance with
generally accepted accounting principles (GAAP) in accordance with
provisions of accounting standards prescribed under section 133 of
companies act of 2013.
FIXED ASSETS
Fixed assets are valued at cost less depreciation or amortization and
impairment loss if any . Any additions to the fixed assets are valued or
distributed on Pro-rata (equal or fair basis) from the date of such
additions.
Accounting Standards
AS- 26 – Depreciation on tangible assets is valued at original cost on
straight line basis or method at the rate and manner which are
prescribed in companies act of 2013.
AS- 22 - Income tax are accounted in accordance with this accounting
standard- Accounting for taxes on income , notified under
companies(Accounting standard rules) 2006 , income tax comprises of
current and deferred tax
Inventories
Inventories are always valued at cost and net realizable value which
ever is less. In this cost is determined using First-in First out formulae
(FIFO).
Employee benefits
Employee benefits include salary , wages, bonus , family pension fund,
employee state insurance, gratuity and other compensations are
provided to the employees.

5. Summery on overall performance of the organisation: