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ROCE(Return on Capital Employed)_A Ratio analysis ROCE is an important Financial Ratio that is used for measuring the combined effect of Profitability of the Business and the Productivity of the Business.  Profitability is measured in terms of  Return on Sales and Productivity is measured in terms of how well the Assets of the Business are put to use by looking at Assets Turnover. (1)The formula used for calculating Return on sales is PBIT less Tax/Net Sales. (2)The formula for calculating Return on Assets is Net Sales/(Net Fixed Assets+Net Current Assets) (3) the formula for calculating Return on Capital Employed(ROCE) is obtained by Multiplying (1)X(2)-(calculated for each year separately in the example given below) The following is a real example of a trend of ROCE of a Business over the years ,that has three Verticals: Belts, Oilseals and Engineering.The composite business is called Polymer. Now for this Business ,an analysis is done and the ways of how to improve the ROCE...

 Vyadha Gita, literally means Song of the Butcher,  is part of Mahabharat and is actually a collection of  teachings  imparted by a Butcher to a Brahmin Sannyasi. This is our heritage and none less than Swami Vivekananda extolled Vyadha Gita as the essence of Karma Yoga. A Butcher , a housewife and a Brahmin Sannyasi are the three characters in this mystical story occurring in Vana Parva section and is told by Sage Markendeya to Yudhistra, the Pandava Prince. Lord Krishna, it seems, says in Srimad Bhagavata Purana that this Butcher is someone who attained perfection /realisation/emancipation by Satsanga. So let us dvelve a little into that incredible story where a Brahmin Sanyaasi is taught Dharma and Ahimsa by a Butcher of all the beings!! In terms of social heirarchy Vyadha is at the lowest status when compared to a brahmin and yet this story finds a prominent place in Mahabharata ,which is acclaimed as the Fifth Veda. A young Sanyasi went to the forest,meditated, ...

  திருஞான சம்பந்தரும் , திருமங்கையாழ்வாரும் சமகாலத்தவர்கள் என்பது வரலாற்றின்படி சிலரின் தெளிந்த அபிப்பிராயம். கொள்கைகளால் இருவரும் வேறுபட்டவராயினும் “கற்றானைக் கற்றானே காமுறுவான்” என்பதற்கொப்ப ஒருவரையொருவர் சந்திக்க ஆவல் கொண்டிருந்தனர் என்பதும்      ஒருவருடன்      ஒருவர் தமிழில் கவிபாடக் காலங்கருதிக் காத்து இருந்தனர் என்பதும் கீழ்க்கண்ட இரண்டு தமிழ் பூம்பாக்களால் விளங்கும். கடியுண்ட நெடுவாளை கராவிற் றப்பக்      கயத்துக்குகள் அடங்காமல் விசும்பில் பாய அடியுண்ட உயர் தெங்கின் பழத்தாற் பூதம்      அலையுண்டு குலைசிதறும் ஆலி நாடா படியுண்ட பெருமானைப் பறித்து பாடி      பதம் பெற்ற பெருமாளே தமியேன் பெற்ற கொடி ஒன்று நின்பவனிக்கு எதிரே சென்று      கும்பிட்டாள் உயிர் ஒன்றுங் கொடு வந்தாயே என்பது ஞானசம்பந்தர் தொடுத்த பாட்டு. அதாவது தன்னைத் தாயாக பாவித்துக் கொண்டு தன் மகளின் நிலை கூறுகிறார். தன்னைக் காத்துக் கொள்ளக் கருதிய வாளை மீனானது, முதலையின் வாயினின்று பிழைத...

  "Buddha always called his way to salvation the 'Aryan Path'. "- says Pandit Jawaharlal Nehru in Discovery Of India , while writing about "What is Hindusism"(Page 74). If Buddha had held "Aryan" which means Noble in Sanskrit, in such a high esteem, will it pass muster if anybody says Aryan Invasion Theory as being correct or calls Aryans Invaders of Dravidian India. All these Western theories(AIT) are nothing short of a great conspiracy who termed Aryans , a race. Those of us who hold Buddha as a fighter against Brahminical hegemony tends to unnaturally convert him as a crusader against Vedas and Vedantas. I would like to give few counterpoints and leave the rest to the best judgment of the readers of this post: 1)Buddha accepted Kapila's Sankhya Yoga's principles of this metaphysical arrangement of the world including the universe but without accepting its Prakriti and Purusha connections, as they are not easily verifiable. Kapila rishi,...

  FS Dr.TVS rightly mentioned that Tax to GDP ratio should go up. Couple of thoughts related to this and other Revenue augmentation avenues; a) Tax exemption except for Primary produce which are Agri products, is anathema to Value Addition. I would say that Value Add abhors tax exemption, with few exceptions!! It also militates against the concept of  Nominal GDP growth rate as it is always zero and so unaffected by inflation or deflation. In the same breath, Agri income should also be taxed at say 0.1% atleast. Therefore, my humble submission to Govt , is to take a relook at all exempted/zero ( 0)-rated products under GST etc.Atleast these products should be brought under 1% slab by creating a new slab. b)Mining Royalty rates should be indexed to inflation. c) EB overdues to Power generation companies as per PRAAPTI.in is increasing every month which have touched Rs.1.07 lac cr. as of Feb 2022. You might have noticed that this is a serious drag on the...

  Mr.N.Venkatraman,Additional Solicitor General,GOI, has clearly brought the key aspects of this landmark judgment delivered by SC. The confusion stemmed from the attention-grabbing headlines  made by media, stating GST Council recommendations are non-binding on Centre and States and have only persuasive value at the most. The nuanced reading of this Judgment with its emphasis on cooperative federalism has not been clearly understood by opposition-ruled  states like TN. Politicians ruling in the States rarely understand that Cooperative Federalism  is a multiway street .CF not only means harmony in the  Centre-State relationship, but also means InterState harmony ( not at all seen even between contiguous States like TN,Kerala, Karnataka,AP)and  finally also means Intra-state harmony. When they keep harping on the point that States are not consulted by the Centre with respect to Indirect Taxation, they forget to what extent they do consult the...

  1)Corporate governance in State owned Public sector companies needs to be looked into For e.g TASMAC is the largest Retailer in terms of Sales revenue of more than Rs.35k Cr per annum of Liquor in TN.This is TN State Marketing Corporation Ltd ,a Pvt Ltd co. which is wholly owned by Govt of TN but does not have requirement for appointment of any Independent Director as it is a Pvt Limited Co. Its AR after Fy 16-17 is not available in its website ,because it is Pvt Ltd?Its Auditors’ Report(FY 16- 17)is full of qualifications and non-compliance.Even its Sale booking is not in order.It makes huge losses every year and has negative networth.What is its condition as at 31.3.21 is not known through its website. There is no effective Audit Committee as there is no Independent Director to question as it is considered as Pvt Ltd Co.(see Page 5 of AR) Since it is Pvt Ltd Co.,No KMPs who are responsible for proper reporting even though it is one of the biggest retailer in the Co.and I am tol...