B satham

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Information about B satham
Business & Mgmt

Published on March 11, 2014

Author: balujagadishrj

Source: slideshare.net

Description

SCAMS OF THE CENTUARY

Accounting SCAM

• Satyam was established in 1987. • 4th fastest growing IT company in India. • 9 % market share • 40,000 employees • Revenue $2.1 billion • It is the first company of India listed in three International Exchanges i.e. NYSE, DOW and EURONEXT INTRODUCTION

Ramalinga Raju, chairman “None of the board members, past or present, had any knowledge of the situation in which the company is placed.” He INFLATED (non existent) cash and bank balance of Rs 5,040 crore(as against Rs 5,361 crore) reflected in the books. Accrued interest of Rs 376 crore is non-existent. He has understated liability to the tune of Rs1,230 crore in accounts of funds arranged by me. He has over-stated debtors position of Rs 490 crore (as against Rs 2,651 crore reflected in the books.) FOR sept 2008, we reported Rs2,700 crore revenue and operating margin of Rs 649 crore against actual revenue of Rs2,112 crore and margin of Rs 61 crore.

5312.62 ACTUAL CASH IN BANK IS 321 INFLATED 5040cr 2651.6 ACTUAL DEBT IS 2161 OVERSTATED 490 Cr CURRENT ASSESTS 376 NO ACCURRED INTEREST 376 Cr UNDERSTATED LIABILITY 1230 Cr which is arranged by Mr.Raju 5040+376+1230+ 490= 7136 LIABILITIES REVENUE 2700 OPERATING MARGIN 690 ARTIFICIALLY ADDED 588 OPERATING PROFIT ADDED 588 INCREASING THE CASH RESERVE ONLY FOR Q2 ALONE TO 588

Operating Profit 401.61 468.72 545.49 648.61 649.27 0 200 400 600 800 Quarter OperatinProfit(IN CRORES) Series1 401.61 468.72 545.49 648.61 649.27 Sep '07 Dec '07 Mar '08 Jun '08 Sep '08 ACTUAL OPERATING MARGIN 61 Cr ( CREATED AN ARTIFICIAL REVENUE OF 588) GROWTH IN THE OPERATING PROFIT

ADJUSTED BALANCE SHEET

RATIO ANALYSIS CURRENT RATIO : CURRENT ASSESTS/CURRENT LIABILITY CASH RATIO : CASH & BANK BALANCE + CURRENT INVT / CURRENT LIABILITIES BEFORE ADJUSTMENT AFTER ADJUSTMENT = 8788.2 1603.07 = 5.48 : 1 = 2882.2 2833.07 = 1.01 : 1 BEFORE ADJUSTMENT AFTER ADJUSTMENT = 5854.8 1603.7 = 3.65 : 1 = 814.8 2833.07 = 0.28 : 1

RATIO ANALYSIS (cont…) OPERATING PROFIT RATIO : OPERATING PROFIT / SALES X 100 EARNING PER SHARE : NPAT – PREF DIVIDEND/ NO OF EQUITY SHARE HOLDERS BEFORE ADJUSTMENT AFTER ADJUSTMENT = 649.27 X 100 2700.52 = 24.04 % = 61.00 X 100 2700.52 = 2.25 % BEFORE ADJUSTMENT AFTER ADJUSTMENT = 597.43 67.35 = 8.87 RS = 9.430 67.35 = 0.14 RS

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