Helios

Working Capital Management is concerned with the problems that
arise in attempting to manage the current Assets, current liabilities and the
inter-relationship that exists between them. The aim of working capital
management is to manage the concerns current assets and current
liabilities in such a way that an adequate working capital is maintained. An
adequate level of working capital provides a business with operational
flexibility. Emerson has very rightly observed that, “business with an
adequate level of working capital has more option available to it, and can
make its own choice as to when working capital will be used. On the other
hand, if a firm is short of working capital, it may be forced to limit business
operations, extension of credit to customers and the amount that it invests
in inventory. This will adversely affect production as well as sales which in
turn will affect probability of a concern.”
Meaning and definition
There is no universally accepted definition of Working Capital, but
the one most widely acceptable is the observation that ‘Working Capital’
represents the excess of current assets over current liabilities.
Although the term ‘Working Capital’ has been depreciated by the
Institute of Chartered Accountants for use in balance sheets and has
preferred the term ‘current assets less liabilities’ nevertheless, for

management purposes the former is useful phrase to summarize the
factor, which is effective lifeblood of much business.
Importance
Study of working capital is of major importance to internal and
external analysis because of its close relationship to current day-to-day
business. Inadequacy or mismanagement of working capital is the leading
cause of business failure. Choyal is of the view that, “The working capital
of a firm is the lifeblood which flows through the veins and arteries of the
structure, Indeed, it engages every part of the structure, gives courage
and moral strength to brain (management) and muscles (Personnel),
digests to the best degree the raw material used by its constant and
regular flow and returns to the heart (Cash flow) for another journey and
so when working capital is lacking or slows down, the financial bodies
have value just as much as junk.”
It is reflected by the fact that Financial Manager spends a great
deal of time in managing current assets and current liabilities. Arranging
short term financing, negotiating favorable credit terms, controlling,
administering accounts receivables and monitoring the investment in
inventories consume a great deal of their time.
In the words of I.M.Pandey: “The net Working Capital indicates
• The liquidity position of the firm.

• Suggests the extent to which working capital needs may be
financed by permanent sources of funds.”

Company profile
Profile:
Helios has been providing, innovative, imaginative & ultimate power

solution in response to customer needs ever since 1987. Right from
inception the company was engaged in the field of manufacturing,
maintaining and servicing of all range of power electronic products. The
company was converted into a Pvt. Ltd. in the year 1999 and from 2003
the company became PUBLIC LIMITED. Our commitment to excellence
has been demonstrated many times by our ability to configure to orders
requiring truly uninterruptible power.
The key areas in our organization are Research & Development,

Administration, and Testing. Marketing and Customer relationship are
directly managed by promoters to ensure complete reliability and total
quality. The company has already achieved its primary requirement of
designing products with latest technology essential for computer industry,
communications, instrumentation and medical electronic applications. The
company has monopolized in certain areas of Battery charging equipment
to be used for the communication sphere and industrial applications.
Mission :
Our mission is "to utilize the best talent and the best technologies in
the power conditioning industry to provide our customer with
optional, cost effective solution for their power requirements".
Our Management Team :
Helios Solutions Limited - promoted and managed by highly qualified

peoples who have excellent expertise in the field of Power electronics and
also who have years of technical and marketing expertise in India and
abroad. This dedicated team leads Sales and Marketing, R & D and
Product Development, Services, Finance and Administration functions of
Helios.
Besides this management team, there are professionals comprising of
• Sales Engineers
• Service Engineers
• Design Engineers
• Production Engineers
• Administrative & Account Staffs
Business Focus :
With a clear focus on business requirements We, Helios Solutions Limited

diversified into Solutions which includes Application development, Product
maintenance, Product development. The area of expertise is on the UPS,
Inverter and Stabilizer environment.
Products:
Embedded systems
The Embedded Systems seminar will examine the design and

implementation of embedded systems from a top down perspective. It will
start with an examination of the commercial and technical requirements
surrounding embedded systems will show how these top level
requirements impact design partitioning decisions. Focusing on design
considerations that are most relevant in an embedded scenario,the course
then examines how these partitioning decisions can be made in a timely
manner that satisfies both commercial and technical requirements.
The seminar moves on to an examination of major hardware components
including microprocessors and FPGAs. The function of components is
described and their interrelationships explained from the system level
viewpoint.
The software component of embedded systems is examined in

considerable detail with a look at real-time operating systems, embedded
applications, design language options and tools. Interaction between
software components is examined, as are interrupts and exceptions.
Interaction between the hardware and software is crucial to the systems

level viewpoint is described in this section of the course. The seminar
concludes with a look at issues arising from use of the embedded systems
in the field. Reliability, maintenance and upgrading are considered in
particular. By always considering the system level implications of the use
of techniques and components, the course provides the attendee with a
broad view of the issues involved with embedded systems design
combined with pertinent detail needed to make the correct system level
design decisions.
Uninterruptible Power Supply (UPS)
a. Line Interactive UPS - 500VA to 2000VA

b. Helios - HE Online UPS Series - 1.0 KVA to 20.0 KVA
c. Helios - XL Series - Up to 150 KVA
Line Interactive UPS - 500VA to 2000VA
a . Efficiency & Technology

Supported by the latest MOSFET Technology, True
Power registers less loss of power, increases efficiency and has more
backup time
b. Transfer in a Wink.
High Sensitive sensors pick up power interruption a
shade faster Transfer time as low as 4 milli secs.
c. Special Features
• Hassle Free Maintenance
• Entire UPS operation works on a single PCB card

• Faster Servicing
• Reduces down - time in busy office schedules
• Longer Life of batteries and hence the UPS
• AVC maintains consistent output voltage
d. Emergency Starter
The cold start switch connects the batteries with the
circuit. It allows the user to activate UPS without AC power.
e. Computer Hotline
True Power instantly communicates AC failure or low
battery signal to the computer and receives shut down signal immediately
after files have been closed. This optional feature uses serial port of the
computer for communication with the software.
Helios - HE Online UPS Series - Upto 20.0 KVA
An ONLINE UPS basic design ensures increased reliability by supplying

constant, tightly regulated - voltage to the load. Helios offers an online,
double conversion UPS system. Helios online UPS system is designed to
handle wide input range voltage. deviations without causing the battery
system to take over the inverter load. This reduces the UPS systems
reliance on its battery bank thereby increasing the life of the same.
Introduction of IGBT - based PMW technology reduces harmonic
distortions and increases crest factor tolerance and dynamic stability.
IGBT based PMW inverter delivers full rated power at temperatures as
high as 45 degree centigrade. Constant current & constant Voltage
technology ensures uniform charging of the battery. Flexibility to use
various types of batteries like LAT (Lead Acid Tubular), LAP (Lead Acid
Plante), SMF (Sealed Maintenance Free), Ni-cd (Nickel -
Cadmium),Standard communication Interface
(Optional).
Helios - XL Series - Upto 150 KVA

Rectifier
Which converts AC voltage of the mains into DC voltage supply for the
inverter and battery. Its adequate sizing allows the recharge of long array
of batteries while simultaneously supplying the inverter. In order to avoid in
rush current on mains, the electronic regulation assures a smooth power
walk - in .
Battery
Provides the energy for the back up in the event of a power failure or if the
mains supply is out of tolerance " Sealed lead" battery technology is
usually proposed, which uses gas recombination. This allows the
integration of the battery in the UPS itself or in a matching cabinet and it
limits the maintenance.
Inverter
Which provides AC voltage of high quality to the load by transforming the

DC voltage from the rectifier or battery. IGBT power transistor and PMW
technology is used with high frequency switching. This gives it exceptional
dynamic performance both for step loads and for supplying non-linear
loads due to switch mode computer power supplies. The built-in
transformer ensures the galvanic isolation bet'n DC voltage and the load
Static BY PASS
Which enables the load to be supplied directly by the mains, without
interruption, in the event of excessive overload or breakdown of the UPS.
Manual BY PASS
To provide continuity of supply to the load during maintenance of the
UPS.
Technical specification
140V- 270V
Voltage :
340V - 480V
Frequency: 50 Hz 5%
Converter : Full bridge SCR Controlled
HRC Fuses, Soft Start for 18 sec.
Protection:
Power walk-in DCV Hightrip
48V to 384V DC (accordingly input
Battery Voltage:
tolerance varies)
230V AC Single Phase
OUTPUT Voltage:
415V AC Three Phase
1:1 % for liP - DC Voltage & OIP Load
Voltage Stability:
Variation
Frequency: 50 Hz :I: 0.01 %
Waveform: Sinusoida
Switching Frequency: 12-20 KHz
Harmonic Distortion: <3%
Load Power Factor: 0.7 Lag to unity
Inverter Efficiency: 92%
Duty : Continuous
Power Device: IGBT (Insulated Gate Bipolar
Transistor)IPM (Intelligent Power
Module
Over Load: 125% for 15 minitues 150% for 1
minute
Protection: c
Crest Factor Transient : 3:1 Within 20 mSec (1 Cycle)
Recovery Audible : <45dB
Noise Ambient Temp Cooling: 0-45 Deg.C
SPECIAL FEATURES
1 Phase Input Range - 140V - 270V * 3 Phase Input Range -

340V - 480V * Power Device IGBT, IPM
RF filter in input & Output.
Inverter controlled by micro controller
Soft - Start for Inverter and charger.. High frequency PWM
Technique in Inverter
Converter: Six pulse fully controlled Bridge, Rectifier to improve
Converter efficiency
4micro Controller based control circuits
very High Efficiency, very low energy loss.
Reliability built in, very Long MTBF.
Multiple options of various configurations
Output Virtual Short circuit protection
ENVIRONMENT
Ambient Temperature Range
0° to 40°C
Operating:
(max 40° for 8 hours)**
Storage: -250C to 70°C
Relative Humidity: 90% non-condensing type at 20°C
Max. Operating: 100 Meters from MSL
Altitude without derating
57 to 73 dBA(depending on KVA
Acoustic Noiseat 1 Metre from
rating)
Panel - Front
CABLE ENTRY Bottom
CABINET FINISH Powder - Coated
Front, Rear &
Structured WhiteEpoxy Polyester
Top Cover
Front, Door & Side Cover Structured Black Epoxy Polyester
Standard Optional
Output Voltage Input Voltage
METERING Battery Voltage Input Current
Output Current Output Frequency
Battery Current
Mains On, Charger ON, Inverter On,
INDICATIONS battery Low, Over Load, Sequence
Failure, Charger Trip, Inverter Trip
CONFIGURATION
Stand Alone Type True online UPS System
Partial Redundant UPS SystemDual Hot standby Redundant type

UPS SystemDual Redundant parallel Load
Sharing UPS System it. Multiple Redundant Load Sharing UPS

SystemOPTIONAL
FEATURES :
Static Bypass System
Isolation Transformer and Servo Stabilizer in bypass Additional

Indications andAlarms.Colour Wheels Remote Panel
PHYSICAL DIMENSIONS WIDTH DEPTH HEIGHT

1.0KVA, 2.0KA, 3.0KVA (1-1) 280 540 520
4.0KVA, 5.0KVA, 6.0KVA
7.5KVA, 10.0KVA, (I-l$) 330 620 580
12.5KVA, 15.0KVA, 20.0 KVA, 25.0
425 800 800
KVA
Above 25.0KVA on
(3 - 1)
request
PericomSolution2000
PericomSolution2000 is a complete, end-to end, innovative solution that

meets all document imaging need. This highly customized and scalable
value added solution is backed by some of the world's leading document
imaging software and hardware vendors today. This includes
unprecedented high level of support and maintenance that is facilitated by
our highly trained Professional Services Group.
Through our product portfolio, expertise and experience,

PericomSolution2000 brings together these otherwise separate
technologies to create solutions that work in an enterprise-wide
environment - for both intensive and casual users. In parallel, we
specialize in serving the needs of customers in selected market sectors,
and our product development plans are led by their particular needs.
Customers will benefit from the in-depth experience and comprehensive
application know-how to deliver a solution that is unparalleled by any
standards today.
DOCUMENT CAPTURE
PeriCAPTURE by eCapture is one of the most affordable, easy-to-use,

and innovative document capture solutions available in the market today.
It allows you to implement both a production-level and Internet-distributed
capture system. eCapture is also a modular system that offers concurrent
user pricing. Unlike many scanning solutions, eCapture does not meter
your usage. Therefore, it won't shut down at those heavy production times
because you've exceeded a monthly allotment of scans. There's no
monthly cap to the number of scans you can produce so you're free to
grow without concern for increased cost. By using ecNet, you can scan
documents anywhere in the world and then send those images over the
Internet back to a central site. This is a true, browser-based, Internet-
distributed system, not just a data link.
Check Capture offers an easy-to-use check scanning interface allowing

you to image enable your checks.
ecScan is packed with powerful features that make it the obvious choice
in a production scanning tool.
ecIndex ensures the productivity and efficiency of the indexing operator -

saving both time and money by providing an easy-to-use method to
manually index and file documents.
ecNet lets you easily deploy distributed document scanning and indexing
at remote locations using the Internet or your corporate intranet.
ecAutoFile Server is a simple, software-based solution that uses bar

code technology to file images directly into your document management or
workflow system.
ecImport Server allows you to import images from applications such as:
incoming faxes, images from microfiche conversions, images from multi-
function copiers, and images scanned using third-party software.
ecCommit Server gives you the option of scheduling when documents

are committed into your document management or workflow system.
FORM PROCESSING
A highly scalable form processing module that automates and capture

data from many hard-to-read forms and eliminate the associated manual
data-entry tasks. Available in a single station with one verification seat, up
to a complete network with many scanners, recognition stations, and as
many verification operators as are required. It can distribute work to many
PC stations for scanning, recognition, verification and data export. It is
also Internet enabled, so that remote processing is possible over private
or public networks.
PeriFORM powered by award winning Ceresoft is a comprehensive and

easy to use out-of-the box forms processing system that includes the best
data recognition technology in the world. PeriFORM seamlessly and
accurately recognizes data from handwritten and machine printed forms
as well as OMR, barcodes, logos, and form identities.
Manager
This module, designed to be user-friendly, employs a visual schematic
icon diagram to smoothly navigate users and their documents through the
system. The complete Windows design includes job control and
monitoring,
Work flow status and statistics reporting all present on the screen. Real
time warning of errors and problems save much time and labor, and users
can also view and access document image files, templates, recognition
results, and database tables within work flow.
Design
For a form to be processed, a template must be created that tells the
system about the forms attributes, data location and data types. Design
provides a template wizard to guide users through the design of these
templates. Design also automatically performs form identification, form
registration, auto deskew, rotate, and inversion, so that correct and clean
data images are extracted for recognition. After the form template is
finished, its instructions are stored in an HTML text-file. This file can be
accessed by other components of the system. For example, PeriFORM
Verify reads it when in the Page Mode editor. Click here for a larger view
of the screenshot
FreeStyle™ Recognition Engine

FreeStyle employs CerebralNet, the most advanced recognition
technology available. This recognition engine is the result of years of
research by CereSoft engineers. It has peerless character recognition
capabilities, the most notable being the ability to read and recognize
completely freestyle handwriting. The document may contain individual
letters and words, or even sentences and paragraphs. CerebralNet
technology integrates, in real time, image, context, and linguistic validation
rules to ensure the highest degree of accuracy possible.
The FreeStyle recognition engine is seamlessly comprehensive. It

recognizes both handwritten and machine-printed words simultaneously
and automatically. It also recognizes OMR, barcodes, logos, and form
identities.
Besides the usual built-in validation rules such as lexical and geometrical
context to enhance accuracy, PeriFORM uses a real-time higher-level
context known as data objects to assist the recognition process. For
example, PeriFORM cross-checks the street, city, state, and zip code of
an address from the beginning of, rather than after the recognition
process. In this way, the system dramatically cuts down on mistakes. An
otherwise unreadable address can be correctly read in most cases. Other
data objects include dates, phone numbers, and e-mail addresses.
FreeStyle also uses a large dictionary to limit candidates to recognized
words. The Trueword module is built into our recognition engine from the
start rather than as a post-processing tool, as other vendors often do.
Recognition results are stored in an HTML text file. This file contains such
information as the multiple choices of each character and word, their
confidences, geometric locations, etc. This information can be easily
accessed by PeriFORM's other components and modules. For example,
Verify will use it to improve the efficiency of the editing process.
Verify
PeriFORM will invoke a carefully designed editor to correct any remaining
recognition errors. The editor has two editing modes. In the Field Mode,
individual fields will be presented to users one at a time for manual
correction. But if field alone cannot resolve the ambiguity of a word, Page
Mode can be accessed by double-clicking the field image. In Page Mode,
the editing field and the original image in the page are highlighted together
for easy identification. Alternative choices for each character and field are
displayed at all times along with the field you are editing.
Export
PeriFORM has the ability to export the extracted data in either ASCII text
format or any ODBC compliant database format. The Export Manager
allows you to export data to multiple databases in multiple formats. It also
allows you to export data to spreadsheets, EDI (electronic data
interchange) or web-form format.
Other Features
PeriFORM is completely scalable. It can distribute work to many PC
stations for scanning, recognition, verification and data export. It is also
Internet enabled, so that remote processing is possible over private or
public networks.
It also has an extremely flexible user interface that makes adding or
modifying existing jobs easy. It supports all major SCSI and ISIS and
Twain compatible scanners.
DLL, COM, DCOM and ActiveX based agents allow PeriFORM to be
easily integrated so that it can be used not only as an out-of-the-box
product but also as a data entry component of a business information
processing system.
System Requirements
IBM Compatible Pentium PC.
64 Mb of RAM and 200 MB of hard disk space.
MS Windows 95, 98, 2000, or NT operating system environment.
DOCUMENT MANAGEMENT
PeriDOC (by DocuWare) is the cornerstone of the DocuWare document

management product line. It gives you the power to electronically store
and organize all kinds of documents — from accounting records to
correspondence, from e-mail to technical drawings, and much more.
PeriDOC is widely known for its complete functionality, simple
administration and usability, seamless integration and absolute security.
ACTIVE IMPORT
Are you fighting your way through hundreds of e-mail messages every
day? The piles of paper from the past - business letters, delivery slips,
invoices, faxes etc. have largely been replaced by e-mail. But the same
problem remains: how to get a handle on it all. ACTIVE IMPORT 3 takes
your e-mail and automatically stores it in PeriDOC alongside all of your
other documents. Whether it's from other Windows applications, scanned
records or e-mail, everything is stored in one common document pool.
Documents can be rapidly retrieved and displayed with a mouse click. In
addition, ACTIVE IMPORT 3 integrates digital copy machines, network
scanners and external scan programs, so that paper documents and files
of every type can be quickly and easily stored in PeriDOC. PeriDOC helps
organize any size office, in any size company in a flash.
RECOGNITION
With RECOGNITION 2, you can file away your documents in PeriDOC
even quicker, since the index words or keywords are automatically
extracted from scanned documents. By using barcodes and OCR (Optical
Character Recognition), information can be read from pre-defined zones
and then transferred for indexing. This add-on module makes your
PeriDOC application more efficient, you will hardly need any time to index
your documents. And with a wide variety of configuration options,
RECOGNITION is truly a multi-faceted tool that classifies your documents
and indexes them automatically
AUTOINDEX
For many documents, data already exists in a computer system that can
be used for indexing these documents in an electronic filing system. For
example, an accounting system already has information about invoices,
such as a vendor’s name, record number, record date, account number
and invoice amount. To index documents, this information would normally
have to be data entered again and again. However, AUTOINDEX
automatically performs this labor intensive work for you.
INTERNET-SERVER
PeriDOC neatly organizes all of your company´s documents - whether
letter, e-mail, business record or any other file - in one common document
pool. The add-on module INTERNET-SERVER 3 gives all authorized
users access to this pool of information via Internet/Intranet. With any
simple web browser, documents are available to your employees as well
as current and potential customers worldwide.
CONTENT-FOLDER
CONTENT-FOLDER ensures quick and direct access to the information
you need on a daily basis. The idea is to put together “virtual folders“
containing dynamic or static links to documents filed in PeriDOC. Instead
of document copies, these folders contain links to the original documents
stored in your file cabinet. The folder can be placed on your desktop, kept
as a pending item in MS Outlook, sent by e-mail or stored in an easy-
access location. CONTENT-FOLDER speeds up the information flow in
your company. By accessing a folder, coworkers can immediately check
the status of a project and cut processing time. Plus, new documents can
be simply dragged into the folder — where they are automatically captured
and stored in your PeriDOC filing cabinet.
DOCUMENT-SERVER
PeriDOC stores all types of documents in a central location by placing the
document’s index criteria in a database and saving the actual documents
through the file system to a hard disk or optical disks. The add-on module
DOCUMENT-SERVER increases document security by acting as an
interface between the PeriDOC client and the file system of the network
server, taking over the storage and retrieval of documents. With
DOCUMENT-SERVER, the user no longer needs direct access to the file
system. This means that the security for stored documents is maximized,
administration needs reduced, and remote access by PeriDOC client via
the Internet is simplified and even faster than ever before.
CONNECT to R/3
This SAP-certified additional module to PeriDOC 4 manages the
seamless connection between the PeriDOC product family to SAP R/3
using the R/3 standard interface, ArchiveLink. All document types and
storage strategies (filing scenarios) recognized by R/3 are supported
without exeption. Special functions make it possible to add index criteria
and create self-contained file cabinets on CD/DVD. PeriDoc CONNECT to
R/3 makes it particularly easy to work together with scanning service
bureaus. This module is certified for both ArchiveLink 3.1/4.0 as well as
ArchiveLink 4.5 (HTTP content server)
CONNECT to NOTES
With PeriDOC, documents of any kind – whether they are files from Office
applications, scanned documents and e-mails can be filed in a common
document pool. The new module CONNECT to NOTES now adds
documents from Lotus Notes/Domino to that list. Whether filed manually or
fully automatically with indexing, these files can be managed in a pre-
configured file cabinet. Within PeriDOC, the user has a variety of editing
functions to choose from. For example, scanned documents can be sorted
and stapled. This module allows the user to seamlessly transfer these
documents from PeriDOC to Lotus Notes
COLD/READ
Mainframes, midrange systems and PCs are used to generate large
volumes of invoices, records, journal reports, etc. This information is
printed as a spool file on powerful printers. Using these same spool files,
COLD/READ makes it possible to electronically file these documents
automatically.
These documents are then neatly organized using the proper index
information, so that they can be found alongside invoices and other
thematically linked documents like letters, files and e-mail. Now through
your PC network and even the Internet, you can find the spool documents
you need, and display and print them in their original format.
LINK
LINK 2 gives you the power to integrate documents filed with PeriDOC
directly into other existing applications, such as an accounting or retrieval
program, without any additional programming. With a click of a button,
LINK 2 displays all the documents that apply to the current context of your
application. For example, all the invoices filed about a certain customer or
the delivery forms associated with a particular booking. LINK 2 helps you
store documents as well. To make indexing a breeze, LINK 2 takes
keywords out of an application menu and transfers them right into the
PeriDOC storage menu.
CDSERVICE
CDSERVICE is designed exclusively for the service bureau that wants to
put their customers’ documents onto CD/DVD-ROM. CDSERVICE
provides a seamless front-end to PeriDOC allowing you to master CDs
easily.
CDMAKER
This innovative module increases your storage media choices by allowing
you to store PeriDOC file cabinets on compact disk (CD) and digital
versatile disc (DVD) media. The recording process is performed fully
automatically. No additional recording software is needed. Documents
stored on CD-ROM or DVD can be accessed as an integral part of a
PeriDOC document management solution, or alternatively, as a self-
contained medium in a stand-alone application.
ISIS PRO
Technology with ISIS PRO
ISIS PRO provides another powerful scanning option with PeriDOC. Built
on industry standard technology from Pixel Translations® the full feature
set of an ISIS capable scanner can be utilized with ISIS PRO.
TOOLKIT
TOOLKIT gives you the power to integrate document management
functions in custom applications. It provides the programming interface
that provides access to PeriDOC functions straight out of other
applications such as Microsoft Office.
READER
You can look at PeriDOC single and multi-page TIFFs with the READER
without having PeriDOC software. When displaying PeriDoc TIFF files,
READER automatically displays all overlays containing annotations made
to the document with PeriDOC document management software. It is also
possible to display any added text notes made to the document. You may
also integrate READER into the results list of INTERNET SERVER 3, so
that you can display your documents right there with the same quality and
speed as you are accustomed to with PeriDOC Viewer.
Business Process Management
A highly scalable, open, reliable architect necessary for enterprise-wide

workflow automation which could involve thousands of users. PeriFLOW,
powered by Ultimus, is aimed at automating everyday tasks designed to
meet the most demanding requirements for customer assistance and
service provision. This is a robust enterprise application by PeriFLOW is
based on the Microsoft's COM+/DNA architecture and Active Directory. It
can be deployed in a multi-platform network with its client technologies
using ActiveX with Dynamic HTML for Internet Explorer browsers, Java
with Dynamic HTML for Netscape browsers and pure HTML Thin Client for
cross-platform browsers.
PeriFLOW offers more than 200 essential out-of the-box features for
workflow automation, making it the easiest way to deploy scalable
workflow applications without programming. Some of the unique features
include the following: collaborative workflow design, automatic workflow
documentation, cross-platform support, powerful server-side scripts and
DLLs for workflow extensions, open form interfaces, XML support and the
ability to create custom clients using COM/DCOM. Great partners with
PeriDOC or by itself. Very user-friendly.
Running on Microsoft technologies, it delivers the lowest cost of ownership
of any BPM product available today
Feature Highlights
· Collaborative, Programming-Free Process Modeling and

· Development Environment
· Graphical Organization Chart
· Choice of Client Interfaces for Task Execution and
· Distributed Management
· Powerful Integration facilities using Flobots, XML, Web
· Services, and .NET
· Real-Time Monitoring and Reporting
The PeriFLOW BPM Suite allows organizations to model, automate,

manage and optimize their business processes using a collection of tightly
integrated modules:
BPM Server is a scaleable, enterprise BPM engine that proactively
orchestrates and monitors the execution of business processes.
Process Designer enables business processes owners and analysts to

design, model, document and optimize business processes without any IT
involvement.
BPM Studio provides a collaborative design environment for teams of IT

designers to convert business processes into deployable solutions
integrated with databases, electronic forms, business rules, other
processes and other systems.
Flobots are “workflow robots” that enable third-party desktop and

enterprise applications to perform specific tasks in a business process
without human intervention.
Client/Thin Client provides a flexible and configurable UI to enable end

users with different skill levels to participate in business processes and
manage their workload, and the workloads of their subordinates. The
clients provide access to forms to capture and display business
information and decisions with fidelity. Form choices include Thin Forms,
ASP .NET forms, Adobe PDF Forms, and Microsoft InfoPath forms.
Organization Chart provides a graphical representation of the company’s

human resources so that the business process is aware of all of the
people, their job functions, reporting relationships and group
memberships. This knowledge is used for intelligent routing of tasks
during the course of a business process.
Administrator provides the tools for the administration of business

processes and handling exceptions and special situations.
Reports capture a variety of metrics from live processes using customized

reports that enable process owners to manage resources and optimize
business processes.
Enterprise Integration Kit (EIK) provides developer tools and

documentation to create advanced integration with back office and
enterprise applications using modern technologies such as Web Services
and .NET objects.
Dealership/clients
Pericom Imaging
PERICOM group provides enterprise document imaging and workflow

solutions to help organizations enhance cost control, productivity, and
information sharing across distributed locations. Founded in 1983,
Pericom is a leading solution provider with headquarters in Singapore and
branches in Malaysia, Thailand, Indonesia, Philippines and Honk kong.
PericomSolution2000 - an integrated solution include document imaging,
enterprise form processing, workflow as well as enterprise portal and
application integration capabilities. The modularity, and scalability of
PericomSolution2000 gives organizations the flexibility to address both
departmental goals, as well as more complex, enterprise-wide strategies.
We, Helios Solutions Limited have been authorized to distribute and deal
with PericomSolution2000 in India. PericomSolution2000 consists of the
following modules
• PeriCAPTURE
• PeriFORM
• PeriDOC
• PeriFLOW
Godrej & Boyce
We would like to introduce ourselves as a dealer of Prima Division of

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Some of our client Lists
• Cipla – Bangalore
• D Apparels – Nepal
• ITC Kakatiya Sheraton – Hyderabad
• L.G. Electronics
• National Institute of Ocean Technology (IIT - Chennai)
• Neyveli Lignite Corporation
• Sundaram Fastners
• Teledata Informatics Limited
• University of Madras
• Indo Matsushita Carbon Co. Ltd
• Welcome Group Hotels
• Swift mail communications (All over India)
• N-Logue Communications (All over India)
• All Prison Departments and Courts in Tamil Nadu
• 25% Engineering colleges in Tamil Nadu
• The study is needed to analyze the working capital management of
the company.
• The study is being carried out, as it is necessary to identify the over
utilization or under utilization of assets to the turnover of the
company.
• It is also necessary to identify the idle assets and non-utilization of
funds.
• It is necessary to identify the ‘liquidity dimension of Working Capital’
and the ‘Profitability’.

• To study the working capital management of Helios Solutions
Limited by analyzing the profitability, solvency and liquidity position
of the company.
• To critically analyze the working capital requirement of Helios
Solutions Limited.
• To evaluate the operating efficiency of Helios Solutions Limited.
• To measure utilization of various assets with the turnover of the
company.
• To project the future sales, profit and working capital requirements
of Helios Solutions Limited.

• The study finds out the operational efficiency of the organization
and suggests the proper utilization and allocation of cash
resources, to improve the efficiency of the organization.
• The working capital of the organization will be further revealed
through the adoption of various techniques available for analysis.
• These techniques reveal the measures that can adopt to improve
the existing trend

• The study will be carried out mainly based on the information
gathered from the Secondary Data mainly Balance Sheet and Profit
and Loss Account.
• The study will be limited to observations of the past. The
observation made will be related to laws operated in the past.
• Sufficient data will not be made available to study the current
operations being carried out in the company.

In the modern business environment, finance plays a role in every
organization. Financial Management is an integral part of the overall
management and is mainly concerned with fund raising operations. At
present most of the industrial undertakings are faced with the problem of
effective utilization of resources.
Working Capital is the major importance to internal and external
analysis because of its close relationship with the day-to-day operations of
a business. Working Capital is the portion of asset of a business, which
are used in or related to current operations, and represented at any one
time by the operating cycle of such items as against receivables and cash.
The present study is an effort to analyze the working capital
management of Helios Solutions Limited over a period of time and to
provide adequate support for the smooth functioning of the normal
business operations of the company.
Hence, the analysis of working capital helps the management to
have knowledge of current asset required to business concern to have
continuous production. It also helps the finance manager to know about
the type of product, market share, attitude of the management, cost of
funds, inflation the demand and the stages of business cycle.
Statement of the Problem
The present study seeks to collect in depth information of the
working capital management of Helios Solutions Limited with special

emphasis on an examination of the management performance in regard to
financial management. One among the reason the company could perform
well is the efficient management of the company’s working capital, which
automatically includes inventory, account receivables and cash i.e., the
proper management of working capital has brought access to this
company. The present study undertakes to deal with the net concept of
working capital i.e., excess of current assets over current liabilities.
Research Methodology
The project study mainly focuses on the critical assessment of
Working Capital Management of Helios Solutions Limited and deals with
the liquidity dimension of working capital and the profitability.
Research Design
Research is an organized activity focused on specific objective with
the support of data collection involving tools for analysis deriving logically
sound inferences.
Research Design is purely and simply the framework or plan for a
study that guides the collection and analysis of data. The function of
researcher is to ensure that requires the data collected or accurate and
economically.
Primary Data
As a part of strengthening the study, personal contacts are made
with the officials and staff members of finance department in the form of
discussions and collection of reports.
Secondary Data
The Secondary Data are collected from Annual Reports, mainly
Balance Sheet, Income and Expenditure and other brouchers of the
company.
Method of Collection
The data for the analysis are collected and gathered from the
printed reports of Helios Solutions Limited like annual reports, official files,
records and other available related material.
Period of Study
The period of study will be carried out from last five financial years
i.e., from 2003 – 2008.
Tools and techniques for collection of data
• Ratio analysis and interpretation
• Statement of changes in working capital
• Common size balance sheet analysis
• Comparative balance sheet statement

Statistical Tools Implemented are
• Z-Score analysis
• Regression analysis
Ratio Analysis
Current Ratio:
Current Assets, Loans & Advances
Current Ratio =
Current Liabilities & Provisions
This ratio measures the solvency of the company in the short-term.
Current assets are those assets, which can be converted into cash within
a year. Current liabilities and provisions are those liabilities that are
payable within a year. A current ratio of 2:1 indicates a highly solvent
position.
Quick Ratio or Liquid Ratio:
Current Assets, Loans & Advances - Inventories
Quick Ratio =
Current Liabilities & Provisions – Bank Overdraft
Quick ratio is used as a measure of the company’s ability to meet
its current obligations. Since bank overdraft is secured by the inventories,

the other current assets must be sufficient to meet other current liabilities.
A quick ratio of 1:1 indicates highly solvent position. This ratio is also
called the acid test ratio. This ratio serves as a supplement to the current
ratio in analyzing liquidity.
Comparative Balance Sheet Statements:
The comparative balance sheet analysis is the study of the trend
of the same items, group of items and computed items in two or more
balance sheets of the same business enterprise on different dates. The
changes in periodic balance sheet items reflect the conduct of a business.
The changes can be observed by comparison of the balance sheet at the
beginning and at the end of a period and these changes can help in
forming an opinion about the progress of an enterprise.
Balance sheets as on two or more different dates are used for

comparing the assets, liabilities and the net worth of the company.
Comparative balance sheet analysis is useful for studying the trends of an
undertaking.
Advantages
• Comparative statements help the analyst to evaluate the
performance of the company.
• Comparative statements can also be used to compare the
performance of the firm with the average performance of the
industry between different years.
• It helps in identification of the weaknesses of the firm and remedial
measures can be taken accordingly.

Common Size Balance Sheet Analysis:
A statement in which balance sheet items are expressed as
the ratio of each asset to total assets and the ratio of each liability is
expressed as a ratio of total liabilities is called common size balance
sheet. The figures are shown as percentages of total assets, total assets
and total liabilities. The total assets are taken as 100 and different assets
are expressed as a percentage of the total. Similarly, various liabilities are
taken as a part of total liabilities.
The figures shown in financial statements viz., Balance Sheet
are converted to percentages so as to establish each element to the total
figure of the statement and these statements are called Common Size
Statements. These statements are useful in analysis of the performance
of the company by analyzing each individual element to the total figure of
the statement. These statements will also assist in analyzing the
performance over years and also with the figures of the competitive firm in
the industry for making analysis of relative efficiency.
Operating Cycle Analysis:
A new concept, which is gaining more and more importance in
recent years, is the ‘Operating Cycle Concept’ of Working Capital. The
operating cycle refers to the average time elapses between the acquisition
of raw materials and the final cash realization.
Operating Cycle consists of four stages:

• The raw materials and stores inventory stage.
• The work-in-progress inventory stage.
• The finished goods inventory stage.
• The receivable stage.
Regression Analysis :
A fundamental and versatile research technique that seeks to
explain an outcome (dependent) variable in terms of multiple predictor
(independent) variables. This analysis reveals the nature and strength of
the relationship between each predictor variable and the outcome,
independent of the influence from all other predictors. The term typically
refers to Ordinary Least Squares (OLS) regression, which models a linear
relationship among variables.
Z -Score Analysis:
The dozens of financial ratios seem to provide different answers to
the same simple question of “How will a company do”. So, everyone is on
the lookout for financial models that summaries one general aspect of
overall company performance. An example is the Z score, which reveals
the efficiency of working capital management.
The original Z score was created by Edward I Altman at New York
University in the mid 1960’s and it has stood as the test of time. Out of a
selection of 22 financial ratios. Altmann found 5 that could be combined to

discriminate between the bankrupt and non-bankrupt companies in this
study. The interesting thing about the Z score is that is good analytical tool
no matter what shape the company is in. Even if the company is very
healthy, if the Z score to fall sharply, warning bells should ring.
• The study is needed to identify the current position of the company
through Z-Score Analysis.

Ratio Analysis and Interpretation
Current Ratio:
(Rs. In Lakhs)
Year Current Assets Current Liabilities CA/CL
2003-2004 172673.84 64712.16 2.67
2004-2005 157667.36 71938.55 2.20
2005-2006 211078.23 119000.23 1.77
2006-2007 203573.14 115980.27 1.75
2007-2008 361170.40 208989.37 1.73
Graphical representation of change of direction of current ratio

3
2.5
1.5
CA/CL
1
0.5
0
2003-04 2004-05 2005-06 2006-07 2007-08
Interpretation
The ideal ratio between current assets and current liabilities is 2:1.
This is insisted because even if current assets are reduced to half i.e., 1,
the creditors will be able to get their dues in full. Here, the ratio is showing
a decreasing trend, which may be due to rise in production.
Quick Ratio:
(Rs. In Lakhs)
Year Quick Assets Quick Liabilities QA/QL
2003-2004 86710.09 64712.16 1.40
2004-2005 81962.52 71938.55 1.14
2005-2006 90770.42 119000.23 0.76
2006-2007 83259.81 115980.27 0.72
2007-2008 119554.60 208989.37 0.57
Graphical representation of change of direction of quick ratio

1.4
1.2
1
0.8
0.6 QA/QL
0.4
0.2
0
2003-04 2004-05 2005-06 2006-07 2007-08
Interpretation
The ideal quick ratio is 1. Here, the analysis shown as decrease
trend due to increasing inventory level which has resulted in increase in
current liabilities. When there is no corresponding increase in liquidity of
current asset, where as the current liabilities as gone up. The quick ratio is
tend to decrease since the company is in an oligopolystic market, the
company is in an position to liquidate its current asset and gain an recov-
ery of money within shortest possible time. The downward trend in the
quick ratio therefore has no significant and is not representational.
TURNOVER RATIOS:
Debtor’s Turnover Ratio
(Rs. In Lakhs)
Year Sales Average Re- Sales/Avg. re-

ceivables ceivables
2003-2004 698269.21 22954.92 30.42
2004-2005 617481.66 30501.04 20.24
2005-2006 807612.81 48906.84 16.51
2006-2007 869351.35 56759.48 15.32
2007-2008 1418835.8 70822.26 20.03
5
Graphical representation of change of direction of Debtors Turnover
ratio
35
30
25
20
Sales/Avg.
15 receivables
10
5
0
2003-04 2004-05 2005-06 2006-07 2007-08
Debtor’s Collection Period
(Rs. In Days)
Year Days in a Debtor’s Year/DTR

Year Turnover Ra-
tio
2003-2004 365 30.42 12.00
2004-2005 365 20.24 18.03
2005-2006 365 16.51 22.11
2006-2007 365 15.32 23.83
2007-2008 365 20.03 18.22
Graphical representation of change of Debtors Collection Period.
25
20
15
Year/DTR
10
0
2003-04 2004-05 2005-06 2006-07 2007-08
Interpretation
The debtor’s turnover ratio shows a decreasing trend and the debt-
ors collection period is increasing. This implies that the collection of pay-
ments from debtors has been delayed. In other words, the company has
allowed extended credit period to its customers.
Creditors Turnover Ratio
(Rs. In Lakhs)
Year Purchases Average Purchases/Avg.

Creditors Creditors
2003-2004 628630.94 53579.19 11.73
2004-2005 558658.42 55809.94 10.01
2005-2006 724122.91 77785.64 9.31
2006-2007 768150.85 96024.94 7.99
2007-2008 1275166.1 128634.42 9.91
4
Graphical representation of change of direction of Creditors
Turnover ratio
12
10
6 Purchases/Avg.
Creditors
4
0
2003-04 2004-05 2005-06 2006-07 2007-08
Creditors Collection Period
(Rs. In Days)
Year Days in a Creditors Year/CTR

Year Turnover Ra-
tio
2003-2004 365 11.73 31.12
2004-2005 365 10.01 36.46
2005-2006 365 9.31 39.21
2006-2007 365 7.99 45.68
2007-2008 365 9.91 36.83
Graphical representation of change of Creditors Collection Period.
50
45
40
35
30
25
Year/CTR
20
15
10
5
0
2003-04 2004-05 2005-06 2006-07 2007-08
Interpretation
The Creditors turnover ratio shows a decreasing trend and the
creditors collection period is increasing. It is only an temporary phenomen-
on.
Working Capital Turnover Ratio
(Rs. In Lakhs)
Year Sales Net Working Sales/NWC

Capital
2003-2004 698269.21 107961.68 6.47
2004-2005 617481.66 85728.81 7.20
2005-2006 807612.81 92078.00 8.77
2006-2007 869351.35 87592.87 9.92
2007-2008 1418835.8 152181.03 9.32
5
Graphical representation of change of direction of Working Capital
ratio
10
9
8
7
6
5
Sales/NWC
4
3
2
1
0
2003-04 2004-05 2005-06 2006-07 2007-08
Interpretation
This analysis helps to measure effective utilization of Working Cap-
ital. Here, as the sales grown the ratio has also gone up, but in the current
year 2007-2008, the ratio shows a decreasing trend, which means that the
turnover has increased with a lesser working capital as sign of efficient
management of working capital.
Fixed Asset Turnover Ratio
(Rs. In Lakhs)
Year Sales Fixed Assets Sales/Fixed As-

sets
2003-2004 698269.21 117060.36 5.97
2004-2005 617481.66 114201.89 5.41
2005-2006 807612.81 119827.06 6.74
2006-2007 869351.35 257073.25 3.38
2007-2008 1418835.8 331879.70 4.28
5
Graphical representation of change of direction of Fixed Asset
Turnover ratio
3 Sales/FA
0
2003-04 2004-05 2005-06 2006-07 2007-08
Interpretation
In the year 2006-2007, due to water scarcity the company was shut
down for more than 45 days, which resulted in a poor turnover. That resul-
ted in declining in ratio. In the year 2007-08.
Inventory Turnover Ratio
(Rs. In Lakhs)
Year Sales Average In- Sales/AI

ventory
2003-2004 698269.21 32717.91 21.34
2004-2005 617481.66 31275.14 19.74
2005-2006 807612.81 41295.17 19.56
2006-2007 869351.35 53122.37 16.37
2007-2008 1418835.8 75967.86 18.68
5
Graphical representation of change of direction of Inventory
Turnover ratio
25
20
15
Sales/AI
10
0
2003-04 2004-05 2005-06 2006-07 2007-08
Interpretation
This ratio indicates that the stock is moving with a constant range,
which is reasonable.
Inventory Turnover Period
(Rs. In Days)
Year Days in a Inventory Year/ITR

Year Turnover Ra-
tio
2003-2004 365 21.34 17.10
2004-2005 365 19.74 18.49
2005-2006 365 19.56 18.66
2006-2007 365 16.37 22.30
2007-2008 365 18.68 19.54
Graphical representation of change of Inventory Turnover Period.
25
20
15
Year/ITR
10
0
2003-04 2004-05 2005-06 2006-07 2007-08
Interpretation
The inventory turnover period is increasing every year. This is only
an temporary phenomenon.
Owned Capital Turnover Ratio
(Rs. In Lakhs)
Year Sales Shareholder’s Sales/Sh. Hold-

Fund er’s Fund
2003-2004 698269.21 124845.62 5.59
2004-2005 617481.66 105122.07 5.87
2005-2006 807612.81 129528.04 6.24
2006-2007 869351.35 161133.04 5.40
2007-2008 1418835.8 200433.69 7.08
5
Graphical representation of change of direction of Owned Capital
Turnover ratio
8
7
6
5
4
Sales/Sh. Holders
3 fund
2
1
0
2003- 2004- 2005- 2006- 2007-
04 05 06 07 08
Interpretation
This ratio has shown some improvement over the period of time.
This means that the company has made use of the owner’s fund effi-
ciently. However, the company is searching for the better growth of com-
pany by improving the turnover of the company. Thus, its aim now being to
maximize the profit and to maximize the wealth of the shareholders.
Comparative Balance Sheet (2003-2004 & 2004-2005)
Particulars 2003-2004 2004-2005 Absolute Change %

Change
Sources of Funds
1.Share Holders Funds

a. Capital 14900.33 14900.33 0.00 0.00
b. Reserves & Surplus 109945.32 90221.74 -19723.58 -17.94
124845.62 105122.07 -19723.55 -15.80
2.Loan Funds
a. Secured Loans 3267.56 3242.94 -24.62 -0.75
b. Unsecured Loans 111978.15 122550.16 10572.01 9.44
115245.71 125793.10 10547.39 9.15
3.Deferred Tax Liability (Net) 24913.43 24913.43 0.00

Total 240091.33 255828.60 15737.27 6.55
Application of Funds
1.Fixed Assets
a. Gross Block 205603.09 210721.86 5118.77 2.49
b. Less: Dep & Amortization 88542.73 96519.97 7977.24 9.01
c. Net Block 117060.36 114201.89 -2858.47 -2.44
d. Capital WIP 11732.05 50765.85 39033.80 332.71
128792.41 164967.74 36175.33 28.09
2.Investments 1903.04 3161.73 1258.69 66.14

Interest Accrued on Inv. 0.00 0.46 0.46 0.00
3.Cur. Assets, Loans & Adv.
a. Inventories 85818.49 75743.23 -10075.26 -11.74
b. Sundry Debtors 24179.85 36822.23 12642.38 52.28
c. Cash & Bank Balances 8737.72 16584.45 7846.73 89.80
d. Other Current Assets 1922.63 2055.45 132.82 6.91
e. Loans & Advances 52015.15 26544.51 -25470.64 -48.97
172673.84 157749.87 -14923.97 -8.64
4.Less: Current Liabilities
a. Current Liabilities 56895.41 65253.84 8358.43 14.69
b. Provisions 7816.75 6729.30 -1087.45 -13.91
64712.16 71983.14 7270.98 11.24
5.Net Current Assets 107961.68 85766.73 -22194.95 -20.56

6.Miscellaneous Expendit-
ure 1434.20 1931.94 497.74 34.71
(to the extent not written off)
Total 240091.33 255828.60 15737.27 6.55
Interpretation
Current Financial Position and Liquidity Position
The current assets have decreased by Rs.14923 lakhs (8.64%) and
sundry debtors have increased by Rs.12642 lakhs (52%). On the other
hand, there has been a decrease in inventories amounting to Rs.10075
lakhs. The current liabilities have increased by Rs.7270.98 lakhs (11.24%).

This further confirms that the company has no improvement in the short-
term financial position.
Long Term Financial Position
There is an increase in fixed assets of about Rs.5118 lakhs
(2.49%). There is also an increase in long-term loans of about Rs.10572
lakhs (9.44%). This depicts that fixed assets are not only financed from
long term sources but part of working capital has also been financed from
long term sources. This fact depicts that the policy of the company is to
purchase fixed assets from the long-term sources of finance thereby not
affecting the working capital.
There is an increase in loaned funds than the share capital, so this
increases the interest liability for the company.
Profitability of the Concern
There is a decrease in the reserves and surplus of the company
of about Rs.19723 lakhs (17.94%). This is due to appropriation of deferred
tax liability.

Change
Sources of Funds

a. Capital 14900.33 14900.39 0.06 0.00
b. Reserves & Surplus 90221.74 114627.65 24405.91 27.05
105122.07 129528.04 24405.97 23.22
2.Loan Funds
a. Secured Loans 3242.94 17500.00 14257.06 439.63
125793.10 197567.05 71773.95 57.06
3.Deferred Tax Liability (Net) 24913.43 27324.00 2410.57 9.68
Total 255828.60 354419.09 98590.49 38.54
1.Fixed Assets
a. Gross Block 210721.86 226518.60 15796.74 7.50
c. Net Block 114201.89 119827.06 5625.17 4.93
d. Capital WIP 50765.85 139922.28 89156.43 175.62
164967.74 259749.34 94781.60 57.45
2.Investments 3161.73 2397.17 -764.56 -24.18

a. Inventories 75743.23 120307.81 44564.58 58.84
b. Sundry Debtors 36822.23 60991.45 24169.22 65.64
c. Cash & Bank Balances 16584.45 901.28 -15683.17 -94.57
d. Other Current Assets 2055.45 10.41 -2045.04 -99.49
e. Loans & Advances 26544.51 28867.28 2322.77 8.75
157749.87 211078.23 53328.36 33.81
b. Provisions 6729.30 17618.40 10889.10 161.82
71983.14 119000.23 47017.09 65.32
5.Net Current Assets 85766.73 92078.00 6311.27 7.36

ure 1931.94 194.58 -1737.36 -89.93
Total 255828.60 354419.09 98590.49 38.54
Interpretation
The current assets have increased by Rs.53328 lakhs (33.81%)
and sundry debtors have increased by Rs.24169 lakhs (65%). On the oth-
er hand, there has been a increase in inventories amounting to Rs.44564
lakhs. The current liabilities have increased by Rs.47017 lakhs (65%). This
further confirms that the company has no improvement in the liquidity pos-
ition.
There is an increase in fixed assets of about Rs.15796 lakhs
(7.5%). There is also an increase in long-term loans of about Rs.71773
lakhs (57%). This depicts that fixed assets are not only financed from long
term sources but part of working capital has also been financed from long
term sources. This fact depicts that the policy of the company is to pur-
chase fixed assets from the long-term sources of finance thereby not af-
fecting the working capital.
Profitability of the Concer
There is an increase in the reserves and surplus of the company of
about Rs.24405 lakhs (27%). This fact depicts that there is an increase in
the profitability of the concern.

Change
Sources of Funds

a. Capital 14900.39 14900.46 0.07 0.00
129528.04 161133.04 31605.00 24.40
2.Loan Funds
a. Secured Loans 17500.00 94728.99 77228.99 441.31
b. Unsecured Loans 180067.05 141801.83 -38265.22 -21.25
197567.05 236530.80 38963.77 19.72
Total 354419.09 432299.50 77880.37 21.97
1.Fixed Assets
a. Gross Block 226518.60 375992.81 149474.21 65.99
c. Net Block 119827.06 257073.25 137246.19 114.54
d. Capital WIP 139922.28 82319.11 -57603.17 -41.17
259749.34 339392.40 79643.02 30.66
2.Investments 2397.17 1196.80 -1200.37 -50.07

a. Inventories 120307.81 120313.33 5.52 0.00
b. Sundry Debtors 60991.45 52527.51 -8463.94 -13.88
c. Cash & Bank Balances 901.28 1242.89 341.61 37.90
d. Other Current Assets 10.41 16.51 6.10 58.60
e. Loans & Advances 28867.28 29472.90 605.62 2.10
211078.23 203573.10 -7505.09 -3.56
b. Provisions 17618.40 10591.39 -7027.01 -39.88
119000.23 115980.30 -3019.96 -2.54
5.Net Current Assets 92078.00 87592.87 -4485.13 -4.87

ure 194.58 141.27 -53.31 -27.40
Total 354419.09 432299.50 77880.37 21.97
Interpretation
The current assets have decreased by Rs.7505 lakhs (3.56%) and
sundry debtors have decreased by Rs.8463 lakhs (13%). On the other
hand, there has been a increase in inventories amounting to Rs.5.52
lakhs.
There is an increase in fixed assets of about Rs.79643 lakhs (30%).
There is also an increase in long-term loans of about Rs.77228 lakhs
(441%). This depicts that fixed assets are not only financed from long term
sources but part of working capital has also been financed from long term
sources. This fact depicts that the policy of the company is to purchase
fixed assets from the long-term sources of finance thereby not affecting
the working capital.
There is a increase in the reserves and surplus of the company of
about Rs.31604 lakhs (27%). This fact depicts that there is a increase in

Change
Sources of Funds

a. Capital 14900.46 14900.46 0.00 0.00
161133.04 200433.69 39300.65 26.87
2.Loan Funds
a. Secured Loans 94728.99 94344.07 -384.92 -0.41
236530.80 239821.06 3290.24 2.18

Total 432299.54 495337.02 63037.56 14.58
1.Fixed Assets
a. Gross Block 375992.81 470804.58 94811.77 25.22
c. Net Block 257073.25 331879.70 74806.45 27.54
d. Capital WIP 82319.11 4518.00 -77801.11 -94.51
339392.36 336397.70 -2994.66 -0.88
2.Intangible Assets 3976.16 5473.53 1497.37 37.66
3.Investments 1196.80 1196.80 0.00 0.00

.
a. Inventories 120313.33 241615.73 121302.40 100.82
b. Sundry Debtors 52527.51 89117.01 36589.50 69.66
c. Cash & Bank Balances 1242.89 970.11 -272.78 -21.95
d. Other Current Assets 16.51 3.65 -12.86 -77.89
e. Loans & Advances 29472.90 29463.90 -9.00 -0.03
203573.10 361170.40 157597.26 77.42
b. Provisions 10591.39 23239.01 12647.62 1.19
115980.30 208989.37 93009.10 80.19
6.Net Current Assets 87592.87 152181.03 64588.16 73.74

ure 141.27 87.96 -53.31 -37.74
Total 432299.50 495337.02 63037.56 14.58
Interpretation
The current assets have increased by Rs.157597 lakhs (77.42%)
and sundry debtors have decreased by Rs.36589 lakhs (69.66%). On the
other hand, there has been a increase in inventories amounting to
Rs.121302 lakhs. The current liabilities have decreased by Rs.80361
lakhs (76.25%). This further confirms that the company has improvement
in the liquidity position.

There is a decrease in fixed assets of about Rs.2994 lakhs (.88%).
There is also an increase in long-term loans of about Rs.3290 lakhs
(2.18%). This depicts that fixed assets are not only financed from long
term sources but part of working capital has also been financed from long
term sources. Also it is clear that there is no addition of fixed assets. This
fact depicts that the policy of the company is to purchase fixed assets from
the long-term sources of finance thereby not affecting the working capital.
There is a increase in the reserves and surplus of the company of
about Rs.39300 lakhs (26.87). This fact depicts that there is a increase in
Common size Balance Sheet Analysis
Values in %
Particulars 2003- 2004-05 2005-06 2006- 2007-08
04 07
Liabilities
a) Current Liabilities
Current liab. 18.7 19.9 21.4 19.2 26.4
Provisions 2.6 2.1 3.7 1.9 3.3
Total 21.2 22.0 25.1 21.2 29.7
b) Shareholders Funds
Capital 4.9 4.5 3.1 2.7 2.1
Reserves & Surplus 36.1 27.5 24.2 26.7 26.3
Total 41.0 32.0 27.4 29.4 28.4
c) Loan Funds
Secured Loans 1.1 1.0 3.7 17.3 13.4
Unsecured Loans 36.7 37.4 38.0 25.9 20.7
Total 37.8 38.4 41.7 43.1 34.1
d) Deferred Tax Liabil- 0.0 7.6 5.8 6.3 7.8

ity
Total Liabilities 100 100 100 100 100
Assets
a) Net Fixed Assets 42.3 50.3 54.9 62.6 47.7

b) Intangible Assets 0.0 0.0 0.0 0.0 0.8
c) Investments 0.6 1.0 0.5 0.2 0.1
d) Current Assets
Inventories 28.2 23.1 25.4 21.9 34.3
Sundry Debtors 7.9 11.2 12.9 9.6 12.7
Cash & Bank Bal- 2.9 5.1 0.2 0.2 0.1
ances 0.6 0.6 0.0 0.0 0.0
Other Current Assets 17.1 8.1 6.1 5.4 4.2
Loans & Advances
Total 56.7 48.1 44.6 37.1 99.9
e) Misc. Expenditure 0.5 0.6 0.0 0.0 0.1
Total Assets 100 100 100 100 100
Interpretation
In common size balance sheet analysis in HELIOS, it is found that
the total assets and liabilities are taken as 100% total and other compon-
ents of assets and liabilities are also expressed in terms compared to total
asset and total liability. The total capital % shows a decreasing trend for
the last two years.
There is also a decline in reserves & surplus in the last few years
due to introduction of AS-22. The percentage of loan funds is increasing

which states the availing of fresh loan from the year 05 to 06 for the pur-
pose of expansion of the business.
The total net worth has decreased by 10%, which is because of
fluctuation in the reserves & surplus. The company adopted regrouping of
certain loans and advances under crude oil loan transaction in line with in-
dustry’s practice of representing the same. This has vitiated the trend in
current liabilities from the old years.
Fixed assets have increased in figures during all the years of study.
It is due to a part of current liability arrives net profit have contributed to
the increase in fixed assets.
The current asset part has considerably decreased since 2003 and
it is due to decrease in loans and advances. There is no decrease in in-
ventory; it is because the company is doing mass production, so as to re-
duce the production cost.
STATEMENT OF CHANGES IN WORKING CAPITAL
Changes in Working Capital – (2003-2004)
Particulars 2003 2004 Increase Decrease
Current Assets & Adv.

Cash and Bank Balance 3472.49 8737.72 5265.23
Inventories 96357.04 85818.49 10538.55
Sundry Debtors 21729.98 24179.85 2449.87
Other Current Assets 1631.95 1922.63 290.68
Loans and Advances 53521.68 52015.15 1506.53
Total Current Assets 176713.14 172673.84
(A)
Current liabilities, Prov.

Current liabilities 63214.58 56895.41 6319.17
Provisions 25948.01 7816.75 18131.26
Total Current Liability 89162.59 64712.16
(B)
Net Working Capital (A- 87550.55 107961.68

B)
Net Increase in Work- 20411.13 20411.13

ing Capital (B/F)
Total 107961.68 107961.68 32456.21 32456.21
Interpretation
In the year 2004, the inventory level is reduced because of low pro-
duction. The sundry debtors increased considerably indicating more credit
being given to the customers. The cash and bank balance increased be-
cause of non-utilization of funds. The total current assets decreased be-
cause of decrease in inventory level. The current liabilities decreased be-
cause of repayment of loans.

Inventories 85818.49 75704.85 10113.64
Sundry Debtors 24179.85 36822.23 12642.38
(A)

Provisions 7816.75 6726.82 1089.93
(B)

B)

ing Capital (B/F)
Total 107961.68 107961.68 43811.91 43811.91
Interpretation
In the year 2005, the inventory level is reduced because of not
holding up the inventory. The sundry debtors increased considerably indic-
ating more credit being given to the customers.

Inventories 75704.85 120307.81 44602.96
Sundry Debtors 36822.23 60991.45 24169.22
(A)

Provisions 6726.82 17618.40 10891.58
(B)

B)

ing Capital (B/F)
Total 92078.00 92078.00 69103.52 69103.52
Interpretation
In the year 2006, cash and bank balance reduced indicating lesser
liquidity position of the company. However, it shows the best management
of surplus funds. The inventory level is raised because of increase in pro-
duction. The sundry debtors are increasing because of rise in sales level.
Loans given were increased slightly. The total current liabilities are in-
creased because of rise in the level of borrowings made by the business.

Inventories 120307.81 120313.33 5.52
Sundry Debtors 60991.45 52527.51 8463.94
(A)

Provisions 17618.40 10591.39 7027.01
(B)
B)

ing Capital (B/F)
Total 92078.00 92078.00 12470.99 12470.99
Interpretation
In the year 2007, the inventory is increased slightly. The cash and
bank balance raised indicating stability in the liquid position of the com-
pany. The level of debtors decreased indicating immediate cash flow into
the business. The level of loans given also increased indicating effective
utilization of cash. The current liabilities decreased because of repayment
efforts.

Inventories 120313.33 241615.73 121302.40
Sundry Debtors 52527.51 89117.01 36589.50
(A)
Current liabilities,
Prov.
Provisions 10591.39 23239.01 12647.62
(B)
Net Working Capital 87592.87 152181.03
(A-B)

ing Capital (B/F)
Total 152181.03 152181.03 157891.90 157891.90
Interpretation
In the year 2008, the inventory and sundry debtors shows a big
hike. It is due to the increase in turnover of the company. The cash and
bank balance, Loans and advances have been reduced. It may be due to
the repayment of current liabilities. The current liabilities have been de-
creased, which means that there is an mass payment and settlement of
creditors.
Operating Cycle
Year R.M WIP Fin- Drs Crs Duration of Op- Operating

(a) (b) ished (d) (e) erating Cycle Cycle in
Goods (a+b+c+d-e) = f Times
(c) (365/f)
2003-04 18 28 11 11 27 41 8.90
2004-05 20 14 13 17 32 32 11.41
2005-06 20 25 14 20 32 47 7.77
2006-07 25 33 16 21 36 59 6.19
2007-08 11 14 11 18 37 17 21.47
Interpretation
Operating Cycle refers to the average time elapses between the
purchase of raw material and final cash collection. Cash is used to buy the
raw materials and other stores.
The collection process of the company has improved, but the com-
pany is not paying its trading creditors first, instead it has started closing
the outside loans. However, the company can improve the turnover be-
cause of that reason, the creditors has allowed a maximum credit of 37
days for each supply.
The number of cycles if maximized, then it means that the com-
pany is able to collect the payments in time and they are using the funds
efficiently for the production purposes. If the company maintains the
present year situation, then there will be a comfortable growth for the com-
pany’s business.
Operating Cycle shows an increasing trend because of increase in
debtors and delayed payments to creditors. The decrease in the operating
cycle of times reveals the possibility of delay or decrease in yielding the
profit.
Z-Score Analysis for the year 2003-2004 to 2007-2008
The formula for calculating Z-Score analysis is
Z = 0.012X1 + 0.014X2 + 0.033X3 + 0.006X4 + 0.010X5
Where, Z = Financial Health Score
X1 = Working Capital / Total Assets * 100
X2 = Retained Earnings / Total Assets * 100
X3 = EBIT / Total Assets * 100
X4 = Net Worth / Total Liability * 100
X5 = Sales / Total Assets * 100
Year X1 X2 X3 X4 X5
2003-04 37.02 2.8 9.56 40.49 244.57
2004-05 31.17 1.23 7.89 31.48 228.09
2005-06 27.63 7.32 17.84 27.32 258.92
2006-07 18.97 6.84 13.40 29.36 205.18
2007-08 21.61 26.34 15.51 28.46 201.46
Year Z-Value Z-Score
2003-04 0.44424 + 0.0392 + 0.31548 + 0.24294 +2.4457 3.48756
2004-05 0.37404 + 0.01722 + 0.26037 + 0.18888 + 2.2809 3.12141
2005-06 0.33156 + 0.10248 + 0.58872 + 0.16392 + 2.5892 3.77588
2006-07 0.22764 + 0.09576 + 0.4522 + 0.17616 + 2.0518 3.00356
2007-08 0.25932 + 0.36876 + 0.51183 + 0.17076 + 2.0146 3.32527
Interpretation
Z-Score more than 3.0 is financially sound and less than 1.8 shows
certain in bankruptcy. Z-Score between 1.8 and 3.0 indicating that the
company is prone to financial sickness.
Z-Score for HELIOS in all the years is more than 3.0. It indicates
that the company’s financial position is sound in all the years. This is be-
cause of increase in turnover, which reacts to the growth in the financial
grounds of the company.
The past records of the company have revealed some sickness in
finance.
From the year 2003-2004 to the year 2007-08, the score is more
than 3.0. Indicating sound financial policy.

Regression Analysis
Profit on Sales
Year Sales (x) Profit (y) xy x2
Rs.lakh Rs.lakh
2003-2004 7132 122 870104 50865424
2004-2005 6273 63 395199 39350529
2005-2006 8629 302 2605958 74459641
2006-2007 9475 400 3790000 89775625
2007-2008 16295 596 9711820 265527025
Total 47804 1483 17373081 519978244
x = independent variable (sales)

y = dependent variable (profit)
a, b = constants
Regression Equation y on x is
yc = a + bx
To find out the values of a, b
Σy = na + bΣx
Σxy = aΣx + bΣx2
By substituting this Equation

1483 = 5a + 47804 b ------------------(Multiplied by 47804)
17373081 = 47804 a + 519978244 b ------------(Multiplied by 5)
70893322= 239020 a + 2285222416 b
86865405 = 239020 a + 2599891220 b
-------------------------------------------------------
15972073 = 314668804 b
------------------------------------------------------
b = 0.05076
By substituting b value in Equation (1)
1483 = 5a + 47804 b
a = - 188.69
The Future Sales Estimation for the year 2009 is 23000 lakh and for the
year 2010, it is 25700 lakh.
By substituting the values of a and b in the regression line y on x is
FOR 2009
y = - 188.69 + 0.05076 (23000)
y = Rs. 978.79 lac.

FOR 2010
y = -188.69 + 0.05076 (25700)
y = Rs. 1115.84 lac.
Interpretation
Here the variable `y’ is taken as Profit and `x’ is taken as Sales. The
estimated sales for 2009 is based on the actuals for nine months up to
December 2008 and realistic estimates for the balance three months of
the year 2008-09. The estimated sales for 2009-10 is based on the
budget estimates by the organization with a growth rate of about 12%
factored over the Revised Estimates for 2008-09.
The projection of Rs. 978.79 lac. and Rs. 1115.84 lac. for the next
two years indicates increase in profit due to estimation that the price of
Raw Material and Finished goods may vary at a higher rate that result in
such a huge increase in profit.
Thus the regression analysis estimates a higher quantum of
profitability for the organization in the coming two years 2008-09 and
2009-10.
Debtors to Sales
Year Sales (x) Debtors (y) xy x2
2003-2004 7132 241 1718812 50865424
2004-2005 6273 368 2308464 39350529
2005-2006 8629 616 5315464 74459641
2006-2007 9475 525 4974375 89775625
2007-2008 16295 891 14518845 265527025
Total 47804 2641 28835960 519978244
y = dependent variable (debtors)
a, b = constants
yc = a + bx
Σy = na + bΣx
Σx = aΣx + bΣx2

2641 = 5a + 47804 b ------------------(* 47804 )
28835960 = 47804 a + 519978244 b ------------(*5)
126250364 = 239020 a + 2285222416 b
144179800 = 239020 a + 2599891220 b

-------------------------------------------------------
179294436 = 314668804 b
-------------------------------------------------------
b = 0.05698
2641 = 5a + 47804 b
a = - 16.56
The Future Sales Estimation for the year 2009 is 23000 lakh and for 2010,
it is 25700 lakh .
FOR 2009
y = - 16.56 + 0.05698 (23000)
y = Rs. 1293.95 lac.
FOR 2010
y = - 16.56 + 0.05698 (25700)
y = Rs. 1447.79 lac.

Interpretation
Here the variable `x’ is taken as Sales and variable `y’ as Debtors.
The estimated sales for 2009 is based on the actual for nine months up to
December 2008 and realistic estimates for the balance three months of
the year 2008-09. The estimated sales for 2009-10 is based on the
budget estimates by the organization with a growth rate of about 12%
The projection of Rs.1293.95 lac. and Rs. 1447.79 lac. indicates
increase in debtors due to increase in sales. Most of the sales made by
the company is taken as credit sales. So increase in sales will result in
increase in the amount of debtors.
Thus the regression analysis estimates a higher quantum of sundry
debtors for the organization for the coming two years 2008-09 and 2009-
10
Sales vs. Working Capital
Year Sales Working Capital Xy x2

(x) (y)
2003- 7132 1079 7695428 50865424
2004
2004- 6273 857 5375961 39350529
2005
2005- 8629 920 7938680 74459641
2006
2006- 9475 875 8290625 89775625
2007
2007- 16295 1522 2480099 265527025
2008 0
Total 47804 5253 5410168 519978244
4
y = dependent variable (debtors)
a, b = constants
yc = a + bx
Σy = na + bΣx
Σx = aΣx + bΣx2
5253 = 5a + 47804 b ------------------(* 47804 )
54101684 = 47804 a + 519978244 b ------------(*5)
251114412 = 239020 a + 2285222416 b
270508420 = 239020 a + 2599891220 b

-------------------------------------------------------
19394008 = 314668804 b
-------------------------------------------------------
b = 0.06163
5253 = 5a + 47804 b
a = 461.34
The Future Sales Estimation for the year 2009 is 23000 lakh and for 2010,
it is 25700 lakh .
FOR 2009
y = 461.34 + 0.06163 (23000)
y = Rs. 1878.90 lac.
FOR 2010
y = 461.34 + 0.06163 (25700)

y = Rs. 2045.31 lac.
Interpretation
Here the variable `x’ is taken as Sales and variable `y’ as Working
Capital. The estimated sales for 2009 is based on the actual for nine
months up to December 2008 and realistic estimates for the balance three
months of the year 2008-09. The estimated sales for 2009-10 is based on
the budget estimates by the organization with a growth rate of about 12%
In this analysis, working capital required for the next 2 years is
projected. Here the working capital is projected based on estimated future
sales that in turn is derived by experience. The projected Working Capital
of Rs. 1878.90 lac. and Rs. 2045.31 lac. for the next two years is required
because of expected increase in sales.
The projection of Rs.1878.90 lac. and Rs. 2045.31 lac. indicates
increase in working capital due to increase in production and in sales.
Most of the production and other operational requirements like utilities and
repairs and maintenance are made by the company out of working capital.
So increase in sales will result in increase in the amount of working capital
demands also.
Thus the regression analysis estimates a higher quantum of
working capital (net) for the organization for the coming two years 2008-09
and 2009-10.
Trend Analysis
PARTICULARS 2003-04 2004-05 2005-06 2006-07 2007-08
Sales 100 87.95 120.99 132.85 228.47

PBIT 100 77.80 213.21 221.97 390.94
Interest 100 97.44 81.13 35.60 119.17
Depreciation 100 77.45 99.99 115.12 205.21
PBT 100 60.29 330.98 388.16 633.27
PAT 100 52.04 247.40 326.76 487.60
Current Assets 100 87.40 117.01 112.85 200.22
Current Liabilities 100 99.32 164.30 160.13 288.54
Working Capital 100 79.41 85.29 81.13 140.96
Net Fixed Assets 100 97.46 102.36 220.37 288.19
Capital Employed 100 88.85 94.17 149.12 217.55
Net Worth 100 83.61 104.80 130.45 162.34
Debt Equity 100 131.18 164.52 158.06 129.03
EPS 100 52.13 247.38 327.16 488.19
Dividend (%) 25 20 35 50 120
Dividend Amt 100 80.43 140.76 200.97 482.35
Interpretation
(i) The sales have continuously increased in all the years except
2008. The percentage in 2008 is 228 as compared to the base
of 100 in 2007. The increase in sales is quite satisfactory.
(ii) The earning has increased substantially in the year 2007 and
2008. This is due to increase in value at production and higher
demand for the product.
(iii) Dividend has been increasing continuously from the year 2007
to 2008 except 2008. There is a decrease in the year 2008 that
was due to decrease in earnings. Dividend payment at HELIOS
show a good track record and shown an increasing trend for the
forth coming year.
(iv) The profitability of the company has increased manifold as
evidenced by the absolute numbers of PBT and PAT. The PBT
is at 633% and PAT at 487% over the base year figure of 2007.
(v) There is a sharp increase in the working capital limits. The net
working capital was Rs.15.21 lakh for 2005 as against 10.79
lakh for 2007 which is140% of the base year figure.

(vi) The long-term borrowings of the company stand at Rs.30 lakh.
Out of this the company has availed about Rs.18 lakh as of
December 2008.
(vii) The working capital limit has been pegged at Rs.1500 lakh
which is mainly funded by the SBI and consortium of other
banks.
(viii) The debt equity was at its best in 2007 started slowly moving
unfavourably due to huge borrowings resorted. As of 2008, it
stood at 1.20 which is anyway a better figure considering the
massive expansion programme.
(ix) The EPS has shown remarkable recovery and improvement and
it was Rs.40.08 for 2008 as against Rs.8.21 for 2007, which is
about 488% over the base year figure.
(x) The company has been aggressively pursuing the dividend
policy decisions and it declared a whopping 120% dividend for
2007-08 entailing an outgo of Rs.178.71 lakh which was
equivalent to a payout of about 30%.

 Profitability indicates the efficiency and effectiveness with which
the operations are being carried on. It has been found out that
the profitability and investments being made by the firm are
sound and showing an increasing trend.
 The profits achieved by the company shows an increasing trend
because of increase in sales and reduction in interest charges for
funds borrowed by the company.
 The average collection period of the company is showing an
increasing rend. This is because of rise in credit giving policy
made by the company that is limited for up to 30 days.
 The average payment period is also started showing an
increasing trend indicating delayed payment being made to the
creditors. This indicates more time taken by the company to
repay the suppliers. However, the payment period is extended up
to 40 days
 The inventory turnover of the company is satisfactory. There is
no holding up of inventory thereby saving interest on investment
amount. This is because of effective production techniques
implemented by the company.

 The current financial position of the company compared to the
last three years is decreased slightly, which should be taken
note.
 The fixed asset of the company contributes more than 50% of the
total asset position of the company. The company indicating good
asset position of the company. The company has also got
sufficient reserves and Surplus to meet the future financial
contingencies of the company.
 The Debt- Equity position of the company is satisfactory but it
increased slightly from the last year’s ratio. This is because of
decrease in Current Liability of the Company.
 Though the liquidity position of the company is moderate, it
showed an decreasing trend for the last two years. This is
because of decrease in Other Current Assets of the firm.
 It is found that there is an increase in Reserves and Surplus
Funds. The Total Resources of the company for the last five
years is showing an increase in trend, which will contribute to a
major extend for the company’s production purposes in future.
 There is a sudden decrease in the Cash Balance of the company in

the year 2005-2006. The cash balance has increased in the year
2006-2007.this may be due to prudent investment/portfolio
management being forwarded in the company.
 The Working capital position of the company is satisfactory. The

working capital is decreased in the year 2003-2004 because of
consistency in maintaining the required level of inventories.
 The Working capital requirement of the company to carry out the

production purpose is satisfactory and is not suffering from any
inadequacy.
 It is projected from Z-Score analysis that the company is financially

sound in the year 2005-2006. In the year 2006-07, it started
showing slightly decreasing trend. But in the current year it started
increasing.
 It is projected from Operation Cycle the rotation of Debtors and

Creditors are within the acceptable time period. The Duration of
Operation Cycle and operating Cycle in Times is moderate.
 The Fund Flow Analysis reveals that the Total Sources position of
the company is satisfactory and enough to meet the future
requirements of the company to carry out its activities.
 The Common Size Balance sheet shows a decreasing trend in

Current Assets and Current Liabilities of the firm indicating changes
in policies of repayment made by the company.
 It is projected from Trend Analysis that the sales trend of the

company for the last 5 years is satisfactory. This analysis is
showing a decreasing tend in all aspects such as Earnings before
Interest and tax, Profit After tax, total assets, Net worth and
Dividend.
 It is projected from Regression Analysis that there will be a

decrease in profits for the forthcoming year. This may be due to
changes in Government Policies and wide fluctuations in raw
material Prices etc. Due to sample constraint, this analogy may not
however be sustainable.
 It has been found out that overall solvency position of the company
is satisfactory and it shows an increasing trend. This indicates the
enhancement of credit worthiness of the company.
 The company may try to reduce the Inventory Turnover Period by
using the Inventory Management techniques such as EOQ and
ABC analysis.
 The payment policy adopted by the company to the suppliers can

be reviewed. This may result in saving of considerable amount of
interest further from 6.3% on long-term loans.
 The credit policy given can also be reviewed so that considerable

amount of funds may not and up locking in debtors. This will result
in increase of cash balances of the company.
 Effective Costing Techniques may be implemented to control the

operating expenses incurred by the company.
 Effective measure have to be carried out to resume the export of

products for the current year, which will add further sophistication
and low cost techniques of production.
 The company may maintain the same Debt-Equity ratio in the

future. So that I can increase EPS.
 For their new products. It is better to choose different debt mix that
is cheaper. An alternative proposal of External Commercial
borrowings will be cheaper for the company based on terms and
conditions of the foreign fluctuations etc.
 There has been slightly decreasing trend in the financial soundness
of the company in the near future. Effective steps should be taken
to find the root cause and control it.
 The solvency position of the company can be further improved by

arresting the borrowings made by the company. If the steps were
not taken, this may affect the long-term credit interest of the
company.
 To conclude that, Helios Solutions Limited has mobilized the funds
in the same manner the funds are invested productivity in the
capital asset as well as working capital. There is a sudden
increased in market price during the year 2005-2006 which is
because of better control from top-level management.
 The company has a high operational efficiency, the profits for the
company has increased over the past years which proves that the
company has taken measure to generate profits by improving its
capacity utilization which would maximize the generation of
resources for expansion, growth and diversification.
 There is a sudden increase in market price during the year 2005-

2006 which is because of better control from top-level
management.
 To end with, I conclude that if the company takes the above actions
as suggested, the company would remain no one leader in the
Industry in future, with its excellent past records.
 T.S. Reddy and Y. Hari Prasad Reddy, Financial and Management
Accounting, Margham Publications, 2005.
 ICFAI. Financial Management, ICFAI, 1998.
 Center for monitoring Indian Economy, Journal, December 2004.
 C.R Kothari, Research methodology, Warsaw Publications, 2005.
 Dr. S.N. Maheswari, Principles of Management Accounting, 11th

edition, Sultan Chand & Sons, New Delhi, 1996.
Websites:
1. www.heliossolutions.biz
2. www.indiainfoline.com

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Working Capital Management is concerned with the problems that

inter-relationship that exists between them. The aim of working capital

management is to manage the concerns current assets and current

liabilities in such a way that an adequate working capital is maintained. An

adequate level of working capital provides a business with operational

flexibility. Emerson has very rightly observed that, “business with an

hand, if a firm is short of working capital, it may be forced to limit business

operations, extension of credit to customers and the amount that it invests

in inventory. This will adversely affect production as well as sales which in

turn will affect probability of a concern.”

Meaning and definition

There is no universally accepted definition of Working Capital, but

represents the excess of current assets over current liabilities.

Although the term ‘Working Capital’ has been depreciated by the

Institute of Chartered Accountants for use in balance sheets and has

preferred the term ‘current assets less liabilities’ nevertheless, for

factor, which is effective lifeblood of much business.

Study of working capital is of major importance to internal and

external analysis because of its close relationship to current day-to-day

business. Inadequacy or mismanagement of working capital is the leading

structure, Indeed, it engages every part of the structure, gives courage

and moral strength to brain (management) and muscles (Personnel),

so when working capital is lacking or slows down, the financial bodies

have value just as much as junk.”

It is reflected by the fact that Financial Manager spends a great

deal of time in managing current assets and current liabilities. Arranging

short term financing, negotiating favorable credit terms, controlling,

administering accounts receivables and monitoring the investment in

inventories consume a great deal of their time.

In the words of I.M.Pandey: “The net Working Capital indicates

• The liquidity position of the firm.

financed by permanent sources of funds.”

Helios has been providing, innovative, imaginative & ultimate power

The key areas in our organization are Research & Development,

Our Management Team :

Helios Solutions Limited - promoted and managed by highly qualified

• Administrative & Account Staffs

With a clear focus on business requirements We, Helios Solutions Limited

The Embedded Systems seminar will examine the design and

The software component of embedded systems is examined in

Interaction between the hardware and software is crucial to the systems

Uninterruptible Power Supply (UPS)

a. Line Interactive UPS - 500VA to 2000VA

Line Interactive UPS - 500VA to 2000VA

a . Efficiency & Technology

• Entire UPS operation works on a single PCB card

• Reduces down - time in busy office schedules

• Longer Life of batteries and hence the UPS

• AVC maintains consistent output voltage

Helios - HE Online UPS Series - Upto 20.0 KVA

An ONLINE UPS basic design ensures increased reliability by supplying

Helios - XL Series - Upto 150 KVA

Which provides AC voltage of high quality to the load by transforming the

1 Phase Input Range - 140V - 270V * 3 Phase Input Range -

Partial Redundant UPS SystemDual Hot standby Redundant type

Sharing UPS System it. Multiple Redundant Load Sharing UPS

Isolation Transformer and Servo Stabilizer in bypass Additional

PHYSICAL DIMENSIONS WIDTH DEPTH HEIGHT

PericomSolution2000 is a complete, end-to end, innovative solution that

Through our product portfolio, expertise and experience,

PeriCAPTURE by eCapture is one of the most affordable, easy-to-use,

Check Capture offers an easy-to-use check scanning interface allowing

ecIndex ensures the productivity and efficiency of the indexing operator -

ecAutoFile Server is a simple, software-based solution that uses bar