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Financial Analysis of Hindalco Industries Ltd
Transcript of Hindalco industries ltd
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COMPANY FINALYTICS
Hindalco Industries Ltd
Exclusive Financial Analysis of Indian Companies
Prepared and Edited By‐
Tanay Roy, CFAPeu Karak, MBA
Disclaimer
The information, opinions, estimates and forecasts contained in this document have been arrived at or obtained from public sources believed to be reliable and in good faith which has not been independently verified and no warranty, express or implied, is made as to their accuracy,
completeness or correctness.
For more information about this sample and our other services, please write to [email protected]
Wednesday, September 14, 2011
Page
Summary 3Latest Result 3Valuation Matrix 3ROE Analysis 3
Income Statement 4
Balance Sheet 5
Cashflow Statement 6
Quarterly Result 6
Growth Analysis 7
Comparative Analysis 8Income Statement 8Balance Sheet 8
Index Analysis 9Income Statement 9Balance Sheet 9
Ratio Analysis 10Annual 10Quarterly 11
TTM Analysis 11
Technical Analysis 12
Our passion lies in the field of financial research & Investment management and we intend to apply our knowledge gained over a period of years through intense study and keen observation of the nuances of financial markets and instruments to real life scenarios. We possess expert knowledge of financial products and markets as evidenced by top notch qualifications earned by us , all in the first attempt and keep ourselves abreast with the latest happenings and innovations taking place in financial landscape.
1. Expertise in Portfolio Management, Product optimization, Product performance Analysis, Financial Reporting/ Planning, Cash Flow Analysis, Ratio Analysis, Budgeting, Forecasting, Mergers & Acquisition and knowledge of GAAP/ IFRS2. Possess Strong Financial Modeling skills including DCF, LBO and other techniques. Possess ability to research all asset classes in a broad range of industries and geographies.3. Strong equity research, finance, accounting and advisory and assurance experience4. Expertise in Technical analysis, fundamental analysis, developing trading systems.5. Conduct in‐depth financial analysis of company financials.6. Write analytical or trend based reports on companies, sectors or markets.7. Expert level application in Bloomberg, Thomson Banker, Factset, Datastream, StockVal, Merger markets, Reuters Knowledge, Haver Analytics, Factiva, PackHedge,8. Building Excel/VBA based customized tools to perform detailed analysis.
CONTENT
About Tanay & Peu
Description
Contact Us: [email protected]
Page 2
Aluminium
Birlas (Aditya Vikram) Group
Latest ResultsMarch ' 11 Growth June ' 11 Growth June ' 11 Growth 1
19149.44EBDITA 3502.18 21.06 1044.96 2.92 3645.76 4.10Reported Net Profit 2136.92 11.79 644.00 48.45 2235.68 5.16 143.1
Adjusted PAT 2126.08 6.36 644.00 48.45 NA NA 16590.01
March ' 07 March ' 08 March ' 09 March ' 10 March ' 11
0.73 0.98 0.87 0.98 0.82
0.73 0.76 0.76 0.76 0.82
0.94 0.91 0.88 0.87 0.92
0.21 0.17 0.16 0.11 0.12
0.73 0.62 0.50 0.46 0.52
2.01 1.78 1.53 1.50 1.55
21% 17% 9% 6% 7%
21% 13% 8% 5% 7%
March ' 11TTM Ratio
Valuation Matrix
Particulars
Reported P/E
Price/Sales Per Share
12.82
1.15 1.15
AnnualMarch ' 11
12.89
0.08
0.01
0.92
Reported ROE
Adjusted ROE
ROE Analysis
Particulars
Reported PAT / PBT
Adjusted PAT / PBT
PBT / PBIT
PBIT / Sales
Sales / Total Assets
Total Assets / Net Worth
Earning Yield
Market Cap(Rs. In Cr)
Price/ Book Value
16590.01
Dividend Yield
Yearly Quarterly TTM
Industry
Price
Market Cap(Rs. In Cr)
Latest Results
Summary
Business Group
Face Value
Number of Equity shares
At a Glance
NA
NA
0.08
Promoter
32%
MF2%
BFI10%
FII31%
Other17%
General Public8%
Share Holding
0%5%10%15%20%25%
March ' 07
March ' 08
March ' 09
March ' 10
March ' 11
ROE
Reported ROE Adjusted ROE
0.00
0.50
1.00
1.50
2.00
2.50
0%
5%
10%
15%
20%
25%
March ' 07 March ' 08 March ' 09 March ' 10 March ' 11
ROE Factors
Reported ROE Reported PAT / PBT PBT / PBIT
PBIT / Sales Sales / Total Assets Total Assets / Net Worth
Page 3
March ' 07 March ' 08 March ' 09 March ' 10 March ' 11
18312.93 19118.01 18159.81 19456.98 23850.25
10994.42 12344.83 11392.95 12900.91 16032.10
2080.80 2026.73 2375.02 2138.32 2477.32
529.58 631.07 675.05 904.90 1040.39
293.82 310.60 318.54 362.94 0.00
403.55 535.38 487.04 559.19 1115.01
0.00 0.00 0.00 0.00 0.00
14302.17 15848.61 15248.60 16866.26 20664.82
4010.76 3269.40 2911.21 2590.72 3185.43
321.13 527.95 621.10 302.12 316.75
4331.89 3797.35 3532.31 2892.84 3502.18
552.80 587.81 644.34 671.36 687.484.00 3.62 0.00 0.00 0.00
3775.09 3205.92 2887.97 2221.48 2814.70
242.39 280.63 336.93 278.00 219.96
3532.70 2925.29 2551.04 1943.48 2594.74
940.30 705.34 610.88 462.10 468.66
2592.40 2219.95 1940.16 1481.38 2126.08
(37.61) 43.23 91.56 272.50 0.00
9.54 597.74 198.55 157.60 10.84
2564.33 2860.92 2230.27 1911.48 2136.92
177.34 226.89 229.58 258.32 287.170.00 0.02 0.02 0.00 0.0024.87 38.56 39.03 42.90 46.59
2362.12 2595.45 1961.64 1610.26 1803.16
Material Consumed
Manufacturing Expenses
Personnel Expenses
Selling Expenses
Adminstrative Expenses
Income Statement
Particulars (Rs. In Cr)
Net Sales
Operating Expenses
Expenses Capitalised
Non Recurring Items
Total Operating Expenses
Operating Profit
Other Income
EBDITA
Interest
DepreciationOther Write offs
EBIT
EBT
Income Tax
Adjusted PAT
Retained Earnings
Other Non Cash adjustments
Reported Net Profit
Equity Dividend Preference Dividend Dividend Tax
0.00
500.00
1000.00
1500.00
2000.00
2500.00
3000.00
3500.00
4000.00
4500.00
5000.00
March ' 07 March ' 08 March ' 09 March ' 10 March ' 11
Profit Levels
Operating Profit EBDITA EBIT
EBT Adjusted PAT
0.00
5000.00
10000.00
15000.00
20000.00
25000.00
30000.00
March ' 07
March ' 08
March ' 09
March ' 10
March ' 11
Operating Income
Net Sales Operating Profit EBDITA
85%
3%0%1%2%
9%
Total Income Break‐up
Total Operating Expenses Depreciation
Other Write offs Interest
Income Tax Adjusted PAT
Page 4
March ' 07 March ' 08 March ' 09 March ' 10 March ' 11
104.33 122.65 170.05 191.37 191.460.00 139.50 3.17 3.99 4.470.00 0.00 0.41 0.00 0.00
12313.71 17173.67 23584.69 27715.61 29504.1712418.04 17435.82 23758.32 27910.97 29700.10
6410.20 6205.42 5713.23 5153.90 5170.31958.40 2123.16 2611.06 1203.00 2101.197368.60 8328.58 8324.29 6356.90 7271.50
19786.64 25764.40 32082.61 34267.87 36971.60
11252.66 12608.46 13393.07 13793.35 14287.320.00 0.00 0.00 0.00 0.00
4245.95 4799.12 5506.10 6058.53 6702.947006.71 7809.34 7886.97 7734.82 7584.38 1476.43 1119.87 1389.63 3702.79 9464.05
8675.32 14107.99 19148.84 21480.83 18246.75
7846.17 7926.26 7824.24 8962.11 10802.69
5221.15 5199.05 4167.07 7612.68 9126.272625.02 2727.21 3657.17 1349.43 1676.42
3.17 0.00 0.00 0.00 0.0019786.65 25764.41 32082.61 34267.87 36971.60
Note :
7537.62 12940.29 17853.29 20232.63 17007.83
5159.28 5795.68 2433.33 4304.76 4672.671362.42 17660.42 9775.80 18607.32 11321.40
11593.30 12271.30 17002.71 19134.62 19149.44
Less : Accumulated Depreciation
Net Current Assets
Less : Current Liabilities & Provisions
Market Value of Quoted
Investments
Gross Block Less : Revaluation Reserve
Total Loan fund
Number of Equity shares outstanding (in Lacs)
Current Assets, Loans & Advances
Total Net Current Assets
Total
Miscellaneous expenses not written
Book Value of Unquoted
Investments
Contingent liabilities
Balance Sheet
Particulars (Rs. In Cr)
Capital Work‐in‐progress
Investments
Secured Loans
Total
SOURCES OF FUNDS Owner's Fund
Equity Share Capital Share Application Money Preference Share Capital Reserves & Surplus
Total Owners fund
Loan Funds
Unsecured Loans
Net Block
Fixed Assets USES OF FUNDS
0.00
5000.00
10000.00
15000.00
20000.00
25000.00
30000.00
35000.00
March ' 07
March ' 08
March ' 09
March ' 10
March ' 11
Capital Structure
Total Owners fund Total Loan fund
Net Block 20%
Capital Work‐in‐progress
26%
Investments 49%
Total Net Current Assets
5%
Application of capital
Total Owners fund80%
Total Loan fund20%
Sources of Capital
Page 5
March ' 07 March ' 08 March ' 09 March ' 10 March ' 11
3504.63 2264.56 2690.32 3025.61 2594.74
3336.56 1717.28 3170.39 2139.84 2257.37
(5636.32) (4074.59) (5773.42) (5362.50) (2164.04)
1989.04 1653.97 3298.83 2719.88 (0.22)
(310.72) (703.34) 695.80 (502.77) 93.11
951.93 835.18 139.38 642.15 131.84
641.21 131.84 835.18 139.38 224.95
June ' 10September '
10 December ' 10 March ' 11 June ' 11
5,178.25 6,846.41 5,974.61 5,859.94 6,030.870.00 0.00 0.00 0.00 0.00
5,178.25 6,846.41 5,974.61 5,859.94 6,030.87
68.92 105.12 60.61 82.10 177.91
5,247.17 6,951.53 6,035.22 5,942.04 6,208.78
194.20 (145.77) (416.17) (26.93) 224.16
2,828.10 4,793.88 4,219.15 3,689.81 3,601.01509.92 586.53 550.82 574.21 635.32227.86 281.23 251.43 284.27 250.060.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00
585.71 416.04 629.26 640.23 453.27
4,345.79 5,931.91 5,234.49 5,161.59 5,163.82
901.38 1,019.62 800.73 780.45 1,044.96
0.00 0.00 0.00 0.00 0.00169.09 175.97 170.65 171.77 175.35
732.29 843.65 630.08 608.68 869.61
59.33 56.40 51.60 52.63 66.72
672.96 787.25 578.48 556.05 802.89
138.56 90.17 117.69 122.24 158.89
534.40 697.08 460.79 433.81 644.00
0.00 0.00 0.00 0.00 0.000.00 11.29 (0.45) 0.00 0.00
Employee Expenses Admin And Selling Expenses Research And Devlopment Expe
Total Expenses
Expenses Capitalised Other Expeses
EBT
Taxation
Net Profit / Loss
Extra Ordinary Item Prior Year Adjustments
EBDITA
Provisions Made
Total Income
Stock Adjustment
Power And Fuel
Profit Before Tax
Net Cash Used In Investing Activity
NetCash Used in Fin. Activity
Net CashFlow‐Operating Activity
Net Inc/Dec In Cash And Equivlnt
Cash And Equivalnt Begin of Year Cash And Equivalnt End Of Year
Particulars (Rs. In Cr)
Quarterly Result
Sales Less: Excise
Net Sales
Other Income
Raw Material
Cash Flow Statement
Particulars (Rs. In Cr)
Depreciation
EBIT
Interest
3336.56 1717.28 3170.39 2139.84
2257.37
(5636.32) (4074.59) (5773.42) (5362.50) (2164.04)
1989.04 1653.97
3298.83 2719.88
(0.22)
Net Cash Flow
Net CashFlow‐Operating Activity
Net Cash Used In Investing Activity
NetCash Used in Fin. Activity
Profit Levels
EBDITA EBIT
EBT Net Profit / Loss
Page 6
March ' 08 March ' 09 March ' 10 March ' 11Average Growth 5 year CAGR
4.40 (5.01) 7.14 22.58 10.61 5.43
0.00 0.00
12.28 (7.71) 13.24 24.27 13.37 7.84
(2.60) 17.18 (9.97) 15.85 6.53 3.55
19.16 6.97 34.05 14.97 19.51 14.46
5.71 2.56 13.94 (100.00) (34.74) (100.00)
32.67 (9.03) 14.81 99.40 45.66 22.54
0.00 0.00 0.00 0.00 0.00 0.00
10.81 (3.79) 10.61 22.52 12.51 7.64
(18.48) (10.96) (11.01) 22.96 1.84 (4.50)
64.40 17.64 (51.36) 4.84 (3.50) (0.27)
(12.34) (6.98) (18.10) 21.06 0.36 (4.16)
6.33 9.62 4.19 2.40 4.77 4.46(9.50) (100.00) 0.00 0.00 (20.95) (100.00)
(15.08) (9.92) (23.08) 26.70 0.26 (5.70)
15.78 20.06 (17.49) (20.88) (8.01) (1.92)
(17.19) (12.79) (23.82) 33.51 1.98 (5.98)
(24.99) (13.39) (24.36) 1.42 (11.92) (13.00)
(14.37) (12.60) (23.65) 43.52 6.36 (3.89)
214.94 111.80 197.62 (100.00) 63.14 (100.00)
6165.62 (66.78) (20.62) (93.12) 559.77 2.59
11.57 (22.04) (14.29) 11.79 (2.82) (3.58)
27.94 1.19 12.52 11.17 11.26 10.120.00 0.00 (100.00) 0.00 (30.00) 0.0055.05 1.22 9.92 8.60 12.17 13.389.88 (24.42) (17.91) 11.98 (4.48) (5.26)
Growth Analysis
Particulars (%)
EBDITA
Depreciation
Other Income
Other Write offs
Selling Expenses
Expenses Capitalised
Operating Profit
Net Sales
Operating Expenses
Personnel Expenses
Adminstrative Expenses
Total Operating Expenses
Material Consumed
Manufacturing Expenses
Dividend Tax Retained Earnings
EBIT
Adjusted PAT
Reported Net Profit
Equity Dividend Preference Dividend
Non Recurring Items
Other Non Cash adjustments
Interest
EBT
Income Tax
(30.00)
(20.00)
(10.00)
0.00
10.00
20.00
30.00
40.00
50.00
March ' 08 March ' 09 March ' 10 March ' 11
Growth Factors
Net Sales Total Operating Expenses
EBDITA EBT
Adjusted PAT (8.00)
(6.00)
(4.00)
(2.00)
0.00
2.00
4.00
6.00
8.00
10.00
5 Year CAGR
Page 7
March ' 07 March ' 08 March ' 09 March ' 10 March ' 11
100.00 100.00 100.00 100.00 100.00
60.04 64.57 62.74 66.30 67.22
11.36 10.60 13.08 10.99 10.39
2.89 3.30 3.72 4.65 4.36
1.60 1.62 1.75 1.87 0.00
2.20 2.80 2.68 2.87 4.68
0.00 0.00 0.00 0.00 0.00
78.10 82.90 83.97 86.68 86.64
21.90 17.10 16.03 13.32 13.36
1.75 2.76 3.42 1.55 1.33
23.65 19.86 19.45 14.87 14.68
3.02 3.07 3.55 3.45 2.880.02 0.02 0.00 0.00 0.00
20.61 16.77 15.90 11.42 11.80
1.32 1.47 1.86 1.43 0.92
19.29 15.30 14.05 9.99 10.88
5.13 3.69 3.36 2.37 1.97
14.16 11.61 10.68 7.61 8.91
(0.21) 0.23 0.50 1.40 0.00
0.05 3.13 1.09 0.81 0.05
14.00 14.96 12.28 9.82 8.96
March ' 07 March ' 08 March ' 09 March ' 10 March ' 11
0.53 0.48 0.53 0.56 0.520.00 0.54 0.01 0.01 0.010.00 0.00 0.00 0.00 0.0062.23 66.66 73.51 80.88 79.8062.76 67.67 74.05 81.45 80.33
32.40 24.09 17.81 15.04 13.984.84 8.24 8.14 3.51 5.6837.24 32.33 25.95 18.55 19.67
100.00 100.00 100.00 100.00 100.00
56.87 48.94 41.75 40.25 38.640.00 0.00 0.00 0.00 0.00
21.46 18.63 17.16 17.68 18.1335.41 30.31 24.58 22.57 20.517.46 4.35 4.33 10.81 25.60
43.84 54.76 59.69 62.69 49.35
39.65 30.76 24.39 26.15 29.22
26.39 20.18 12.99 22.22 24.6813.27 10.59 11.40 3.94 4.53
0.02 0.00 0.00 0.00 0.00100.00 100.00 100.00 100.00 100.00
Other Income
EBDITA
Depreciation
EBIT
Interest
Comparative Analysis
Particulars (Rs. In Cr)
Fixed Assets Gross Block Less : Revaluation Reserve
Income Statement
Balance Sheet
Equity Share Capital Share Application Money Preference Share Capital Reserves & Surplus
Total Owners fund
EBT
Income Tax
Adjusted PAT
Non Recurring Items
Other Non Cash adjustments
Reported Net Profit
Particulars (Rs. In Cr)
Expenses Capitalised
Total Operating Expenses
Operating Profit
Total
Net Sales
Material Consumed
Manufacturing Expenses
Personnel Expenses
Selling Expenses
Adminstrative Expenses
Other Write offs
SOURCES OF FUNDS
Less : Accumulated Depreciation
Net Block Capital Work‐in‐progress
Investments
Net Current Assets Current Assets, Loans & Less : Current Liabilities & Provisions
Total Net Current Assets Miscellaneous expenses not
written
Secured Loans Unsecured Loans
Total Loan fund
Total
USES OF FUNDS
March ' 07
March ' 08
March ' 09
March ' 10
March ' 11
Comparative Net Sales
Total Operating ExpensesOther IncomeDepreciationOther Write offsInterest
0.52 0.01 0.00
79.80
13.98 5.68
Comparative Analysis‐Source of Fund
Page 8
March ' 07 March ' 08 March ' 09 March ' 10 March ' 11
100.00 104.40 99.16 106.25 130.24
100.00 112.28 103.62 117.34 145.82
100.00 97.40 114.14 102.76 119.06
100.00 119.16 127.47 170.87 196.46
100.00 105.71 108.41 123.52 0.00
100.00 132.67 120.69 138.57 276.30
0.00 0.00 0.00 0.00 0.00
100.00 110.81 106.62 117.93 144.49
100.00 81.52 72.58 64.59 79.42
100.00 164.40 193.41 94.08 98.64
100.00 87.66 81.54 66.78 80.85
100.00 106.33 116.56 121.45 124.36100.00 90.50 0.00 0.00 0.00
100.00 84.92 76.50 58.85 74.56
100.00 115.78 139.00 114.69 90.75
100.00 82.81 72.21 55.01 73.45
100.00 75.01 64.97 49.14 49.84
100.00 85.63 74.84 57.14 82.01
100.00 (114.94) (243.45) (724.54) 0.00
100.00 6265.62 2081.24 1651.99 113.63
100.00 111.57 86.97 74.54 83.33
March ' 07 March ' 08 March ' 09 March ' 10 March ' 11
100.00 117.56 162.99 183.43 183.510.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00
100.00 139.47 191.53 225.08 239.60100.00 140.41 191.32 224.76 239.17
100.00 96.81 89.13 80.40 80.66100.00 221.53 272.44 125.52 219.24100.00 113.03 112.97 86.27 98.68
100.00 130.21 162.14 173.19 186.85
100.00 112.05 119.02 122.58 126.97
0.00 0.00 0.00 0.00 0.00100.00 113.03 129.68 142.69 157.87100.00 111.46 112.56 110.39 108.24100.00 75.85 94.12 250.79 641.01
100.00 162.62 220.73 247.61 210.33
100.00 101.02 99.72 114.22 137.68
100.00 99.58 79.81 145.80 174.79
100.00 103.89 139.32 51.41 63.86
100.00 0.00 0.00 0.00 0.00100.00 130.21 162.14 173.19 186.85
Index Analysis
Income StatementParticulars
Net Sales
Operating Expenses
Material Consumed
Manufacturing Expenses
Personnel Expenses
Selling Expenses
Adminstrative Expenses
Expenses Capitalised
Total Operating Expenses
Other Write offs
EBIT
Operating Profit
Other Income
EBDITA
Depreciation
Adjusted PAT
Non Recurring Items
Other Non Cash adjustments
Reported Net Profit
Preference Share Capital
Total Owners fund
Unsecured Loans
Loan Funds
Particulars
Equity Share Capital
Interest
EBT
Income Tax
Balance Sheet
SOURCES OF FUNDS
Share Application Money
Reserves & Surplus
Secured Loans
Total
Total Loan fund
USES OF FUNDS Fixed Assets
Gross Block Less : Revaluation Reserve
Less : Accumulated Net Block
Total
Capital Work‐in‐progress
Investments
Net Current Assets Current Assets, Loans & Advances
Less : Current Liabilities & Provisions
Total Net Current Assets
Miscellaneous expenses not written
March ' 07
March ' 08
March ' 09
March ' 10
March ' 11
Profit Index
EBITEBTAdjusted PATReported Net Profit Net Sales
March ' 07
March ' 08
March ' 09
March ' 10
March ' 11
Liability Index
Total Owners fund Total Loan fund
Page 9
March ' 07 March ' 08 March ' 09 March ' 10 March ' 11
22.36 18.09 11.41 7.74 11.1027.16 22.91 15.20 11.25 14.6922.12 23.31 13.12 10.01 11.1626.92 28.13 16.91 13.52 14.751.70 1.85 1.35 1.35 1.50
34.60 26.64 17.12 13.54 16.63
119.03 142.16 139.71 145.85 155.12
119.03 142.16 139.71 145.85 155.12
157.96 155.79 106.81 101.68 124.55103.16 138.43 86.31 98.72 0.00
21.90 17.10 16.03 13.31 13.3518.88 14.02 12.48 9.86 10.4713.76 14.56 11.87 9.69 8.8416.90 14.31 13.76 10.89 11.64
20.88 12.83 8.16 5.30 7.15
20.65 16.54 9.38 6.86 7.19
20.03 13.56 9.72 6.71 7.61
0.51 0.36 0.25 0.18 0.240.59 0.48 0.35 0.22 0.24
62.75 67.49 74.04 81.44 80.321.64 1.53 1.37 1.42 1.67
1.50 1.52 1.88 1.18 1.181.22 1.08 1.20 1.02 1.180.66 0.52 0.88 0.38 0.344.89 4.32 5.16 3.63 3.31
7.88 9.27 12.04 15.72 15.61
6.47 7.68 9.34 11.64 11.8192.20 88.05 86.16 79.67 84.3193.58 90.56 89.61 86.01 88.14
2.34 2.96 3.22 2.95 2.58
17.87 13.53 10.48 10.41 15.92
13.88 13.30 9.53 10.31 13.84
62.46 65.31 59.77 70.24 68.91
1.60 1.62 1.75 1.86 0.00
38.10 33.65 28.38 27.12 29.75
89.50 90.35 86.35 89.76 88.47
0.68 0.74 0.78 0.78 0.76
47.13 40.09 28.92 25.69 25.68
Selling Cost Component
Exports as percent of Total Sales Import Comp. in Raw Mat. Consumed Long term assets / Total Assets
Bonus Component In Equity Capital (%)
Dividend payout Ratio (Cash Profit)
Earning Retention Ratio Cash Earnings Retention Ratio
COVERAGE RATIOS
Adjusted Cash Flow Time Total Debt Financial Charges Coverage Ratio Fin. Charges Cov.Ratio (Post Tax)
COMPONENT RATIOS
Material Cost Component(% earnings)
Current Ratio Current Ratio (Inc. ST Loans)
PAYOUT RATIOS
Dividend payout Ratio (Net Profit)
Adjusted E P S (Rs.)
Book Value (Excl Rev Res) Per Share (Rs.)
PROFITABILITY RATIOS
Operating Margin (%) Gross Profit Margin (%) Net Profit Margin (%)
Reported Return On Net Worth (%)
Return On long Term Funds (%)
Long Term Debt / Equity
Owners fund as % of total Source
Quick Ratio Inventory Turnover Ratio
Adjusted Return On Net Worth (%)
LEVERAGE RATIOS
Total Debt/Equity
Fixed Assets Turnover Ratio
LIQUIDITY RATIOS
Reported EPS (Rs.) Reported Cash EPS (Rs.) Dividend Per Share
Operating Profit Per Share (Rs.)
Book Value (Incl Rev Res) Per Share (Rs.) Net Operating Income Per Share (Rs.) Free Reserves Per Share (Rs.)
Adjusted Cash Margin (%)
Ratio Analysis
Particulars(Yearly)
PER SHARE RATIOS
Adjusted Cash EPS (Rs.)
0.00 50.00
100.00 150.00 200.00 250.00 300.00 350.00 400.00
March ' 07
March ' 08
March ' 09
March ' 10
March ' 11
Per Share Ratio
Net Operating Income Per Share (Rs.)
Adjusted E P S (Rs.)
Adjusted Cash EPS (Rs.)
Dividend Per Share
Book Value (Incl Rev Res) Per Share (Rs.)
0.00 10.00 20.00 30.00 40.00 50.00 60.00 70.00 80.00 90.00
March ' 07
March ' 08
March ' 09
March ' 10
March ' 11
Profit Margin
Net Profit Margin (%)
Operating Margin (%)
Adjusted Return On Net Worth (%)
Return On long Term Funds (%)
March ' 07
March ' 08
March ' 09
March ' 10
March ' 11
Liquidity Ratio
Current Ratio Quick Ratio
Page 10
June ' 10September '
10 December ' 10 March ' 11 June ' 11
27.05 35.76 31.21 30.61 31.50
4.71 5.33 4.18 4.08 5.462.79 3.64 2.41 2.27 3.36
16.07 11.91 12.38 13.35 14.3716.04 12.24 12.41 13.85 15.7510.18 7.30 7.62 10.19 10.37
March ' 11 % of Sales June ' 11 % of Sales Growth(%)
23859.21 100.00 24711.83 100.00 3.570.00 0.00 0.00 0.00 NA
23859.21 100.00 24711.83 100.00 3.57
Other Income 316.75 1.33 425.74 1.72 34.41
24175.96 101.33 25137.57 101.72 3.98
(394.67) (1.65) (364.71) (1.48) (7.59)
15530.94 65.09 16303.85 65.98 4.982221.48 9.31 2346.88 9.50 5.641044.79 4.38 1066.99 4.32 2.12
0.00 0.00 0.00 0.00 NA0.00 0.00 0.00 0.00 NA0.00 0.00 0.00 0.00 NA
2271.24 9.52 2138.80 8.65 (5.83)
20673.78 86.65 21491.81 86.97 3.96
3502.18 14.68 3645.76 14.75 4.10
687.48 2.88 693.74 2.81 0.91
2814.70 11.80 2952.02 11.95 4.88
219.96 0.92 227.35 0.92 3.36
2594.74 10.88 2724.67 11.03 5.01
468.66 1.96 488.99 1.98 4.34
2126.08 8.91 2235.68 9.05 5.16
0.00 0.00 0.00 0.00 NA10.84 0.05 10.84 0.04 0.00
TTM EPS 11.1 11.68 0.03TTM SPS 124.62 129.07 0.02
Raw Material Power And Fuel Employee Expenses
GPM(%) NPM(%)
PROFITABILITY RATIOS
OPM(%)
Ratio Analysis
Particulars(Quarterly)
PER SHARE RATIOS
Operating Income Per Share(Rs.)
Adjusted EPS(Rs.)
EBT
Taxation
Net Profit / Loss
Extra Ordinary Item Prior Year Adjustments
Interest
Operating Profit Per Share(Rs.)
TTM Analysis
Particulars (Rs. In Cr)
Sales
Net Sales
Research And Devlopment Expe
Other Expeses
EBDITA
Provisions Made
Admin And Selling Expenses
Expenses Capitalised
Total Expenses
Depreciation
EBIT
Less: Excise
Total Income
Stock Adjustment
Quarterly Profit Margin
OPM(%) GPM(%) NPM(%)
3.57 3.96 4.10
4.88 5.01 5.16 TTM Growth (%)
March ' 11 June ' 11
TTM EPS & SPS(%)
Page 11
Price 143.10 AS On: 12/09/2011
EMA(13) 152.65 ADX #DIV/0!
EMA(26) 160.23 DX 25
EMA(50) 165.90 +DI 20
EMA(200) 165.23 ‐DI 34
RSI(14) 61.86 %K(Fast) 19.66
MACD ‐7.58 %K(Slow) 56.94
William(%R) ‐80.34 %d(Slow) 79.86
Technical Indicators
Technical Analysis
0.00
500000.00
1000000.00
1500000.00
2000000.00
2500000.00
0.00
50.00
100.00
150.00
200.00
250.00
30‐Jan 11‐Apr
Price Chart
Volume Close EMA(200) EMA(50)
‐15.00‐10.00‐5.000.005.00
10.0015.00
MACD Signal line
020406080100
RSI(14)
Page 12
