Budget

BUDGET ESTIMATES FOR THE YEAR-2014-15

THE MYSORE ELECTRICAL INDUSTRIES LTD .,
The M.E.I. Ltd. Bangalore-560 022.
Date:15.03.2014

PERFORMANCE DURING THE YEAR-2013-14.

PRODUCTION
:

The Company expects to achieve a production turnover of Rs.4507.54 lakhs in terms of Sale value, against the target of Rs.5000.00 lakhs, accounting for 90 % of the target set.

SALES :
The expected Sales turnover during the year is Rs.4682.84 lakhs, against the target of Rs.5000.00 lakhs, accounting for 94 % of the target set. WORKING RESULTS FOR THE YEAR 2013-14: The working results for the year 2013-14 are expected to end up with a Profit of Rs.206.40 lakhs. and the accumulated loss at the year-end would be Rs.1635.27 lakhs.

FINANCIAL POSITION OF THE COMPANY :
The working capital management and financial position of the company during the year is satisfactory and the company is regular in paying all the statutory dues.

ORDER BOOK POSITION :
During the year 2013-14 the company has received the orders worth Rs.4030.69lakhs and executed orders worth Rs.4682.84lakhs. The order book position as at 1 st April 2013 was Rs.1777.35lakhs and the estimated value of orders as on 1st APRIL2014 is Rs.1125.20lakhs as detailed in ANNEXURE-1. The company is putting in serious efforts to mobilize the orders required for plant load during the next financial year.

PRODUCTION AND SALES TARGET FOR 2014-15 :
The Production and Sales targets for the year 2014-15 are fixed at Rs.6511.00 lakhs each respectively. The details of Production and Sales targets are indicated in ANNEXURE-2,3 & 4.

MATERIAL COST :
The estimated Material Cost to production during the year 2013-14 works out to be around 69%. The budgeted material cost to production for the year 2014-15 is expected to be around 69%. The details of Product wise and category wise material cost are given in ANNEX.- 5 & 6.

PERSONNEL COST :
The total  strength of the Employees as on 1-4-2014 is as under :-

   Workmen

70

   Staff

27

   Superintendents

8

   Officers

17

   Total no of permanent employees

122

   Casual laborers

 65

   Apprentices / Trainees

136

   Total number of employees

323

The personnel Cost for the year  2013-14 is estimated at Rs.806.05 lakhs.The total budgeted personnel cost for the year 2014-15 is expected to be at Rs.907.55 lakhs. The details of Personnel cost are given in ANNEXURE-7 & 8.

VALUE ADDITION :
The value addition per employee is expected to be at Rs.4.34 lakhs per annum as against the personnel cost of Rs.2.80 lakhs per annum per employee.The details are furnished in ANNEXURE-9.

PROFIT AND LOSS ACCOUNT :
The Gross income for the year 2014-15 is budgeted at  Rs.5250.00 lakhs against which an expenditure of Rs.4955.03 lakhs is anticipated. The working results for the year 2014-15 on the above level of turnover is expected to end up with a profit of Rs.294.97 lakhs. The detailed Profit and Loss account together with the schedule of expenses are given in ANNEXURE-12,12A and 12B

BUDGETED BALANCE SHEET :
The Financial  Position of the Company as per the Budgeted operations is given in the Balance Sheet vide ANNEXURE-11 and 11A.

FUND FLOW STATEMENT :
The budgeted fund flow statement is furnished in ANNEXURE-13.

BREAK EVEN SALES FOR THE YEAR 2013-14 :
The break even sales for the  year 2014-15 is estimated at Rs.4251.00 lakhs.  A detailed calculation is furnished in  ANNEXURE-14.

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