Asian Paints Limited

Sector: Paints
BSE:500820 NSE:ASIANPAINT Bloomberg:APNT@IN Reuters:ASPN.BO
Market Lot: 1 Face Value: 10 ISIN Demat: INE021A01018
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Financials (Standalone)
Income  Latest 
Balance Sheet Ratio Analysis
Statement Quarterly/Halfyearly

Latest Quarterly/Halfyearly Detailed Quarterly

As On(Months) 31-Dec-2009(3) 31-Dec-2008(3) % Change
Sales of Products/Services 12777.10 10064.00 26.96
Other Income 220.70 173.60 27.13
Total Income 12997.80 10237.60 26.96
Total Expenses 10176.70 9268.80 9.80
OPBDIT 2821.10 968.80 191.20
Interest 43.80 25.60 71.09
Depreciation 148.30 157.80 -6.02
Exceptional & Extraordinary Items 0.00 -5.40 --
Prior Period Adjustments -0.10 0.00 --
Provision for Tax 842.00 278.90 201.90
After Tax Profit 1786.90 501.10 256.60
Equity Capital 959.20 959.20 0.00
Reserves 0.00 0.00 --
Notes to Accounts Click here Click here  
Income Statement
31-Mar- 31-Mar- 31-Mar-
     
09(12) 08(12) 07(12)
Profit / Loss A/C Rs mn %OI Rs mn %OI Rs mn %OI
   Net Sales (OI) 42585.00 100.00 34066.80 100.00 28097.70 100.00
   Material Cost 25650.10 60.23 19473.10 57.16 16788.50 59.75
   Increase Decrease Inventories 586.70 1.38 231.90 0.68 -39.30 -0.14
   Personnel Expenses 2431.20 5.71 1991.30 5.85 1608.10 5.72
   Manufacturing Expenses 983.40 2.31 836.70 2.46 723.70 2.58
Gross Profit 12933.60 30.37 11533.80 33.86 9016.70 32.09
   Administration Selling and
7436.40 17.46 6094.00 17.89 4914.30 17.49
Distribution Expenses
EBITDA 5497.20 12.91 5439.80 15.97 4102.40 14.60
   Depreciation Depletion and
571.50 1.34 437.70 1.28 454.20 1.62
Amortisation
EBIT 4925.70 11.57 5002.10 14.68 3648.20 12.98
   Interest Expense 104.00 0.24 82.70 0.24 68.70 0.24
   Other Income 716.10 1.68 726.10 2.13 519.70 1.85
Pretax Income 5537.80 13.00 5645.50 16.57 4099.20 14.59
   Provision for Tax 1835.70 4.31 1879.60 5.52 1399.90 4.98
   Extra Ordinary and Prior
-78.50 -0.18 -13.90 -0.04 21.20 0.08
Period Items Net
Net Profit 3623.60 8.51 3752.00 11.01 2720.50 9.68
Adjusted Net Profit 3682.60 8.65 3752.00 11.01 2720.50 9.68
Dividend - Preference 0.00 0.00 0.00 0.00 0.00 0.00
Dividend - Equity 1678.60 3.94 1630.60 4.79 1247.00 4.44
Balance Sheet
31-Mar-09 %BT 31-Mar-08 %BT 31-Mar-07 %BT
    Equity Capital 959.20 4.41 959.20 4.78 959.20 6.23
    Preference Capital 0.00 0.00 0.00 0.00 0.00 0.00
Share Capital 959.20 4.41 959.20 4.78 959.20 6.23
Reserves and Surplus 9985.50 45.92 8325.80 41.51 6481.60 42.08
Loan Funds 745.30 3.43 947.00 4.72 1256.70 8.16
    Current Liabilities 7719.00 35.50 7845.60 39.12 5941.00 38.57
    Provisions 1858.40 8.55 1664.90 8.30 541.50 3.52
Current Liabilities and Provisions 9577.40 44.04 9510.50 47.42 6482.50 42.09
Total Liabilities and Stockholders
21746.50 100.00 20057.70 100.00 15401.50 100.00
Equity (BT)
    Tangible Assets Net 6150.50 28.28 4175.10 20.82 3189.50 20.71
    Intangible Assets Net 51.20 0.24 38.90 0.19 29.40 0.19
  Net Block 6229.10 28.64 4288.30 21.38 3349.10 21.75
  Capital Work In Progress Net 888.60 4.09 1103.90 5.50 116.20 0.75
Fixed Assets 7117.70 32.73 5392.20 26.88 3465.30 22.50
Investments 2347.70 10.80 4228.80 21.08 3343.90 21.71
  Inventories 5467.10 25.14 5389.70 26.87 4340.70 28.18
  Accounts Receivable 3110.20 14.30 2519.00 12.56 2359.60 15.32
  Cash and Cash Equivalents 1282.60 5.90 413.50 2.06 424.90 2.76
  Other Current Assets 484.60 2.23 331.80 1.65 312.60 2.03
Current Assets 10344.50 47.57 8654.00 43.15 7437.80 48.29
Loans & Advances 1936.60 8.91 1782.70 8.89 1154.50 7.50
Miscellaneous Expenditure Other
0.00 0.00 0.00 0.00 0.00 0.00
Assets
Total Assets (BT) 21746.50 100.00 20057.70 100.00 15401.50 100.00

Ratio Analysis
As on 31-Mar-09 31-Mar-08 31-Mar-07

Return Related
Return on Total Assets (%) 40.50 47.40 40.90
Return on Networth (%) 33.80 40.60 36.30
Return on Capital Employed (%) 48.30 58.40 44.60

Profitability
Gross Margin (%) 30.40 33.90 32.10
Operating Margin (%) 11.60 14.70 13.00
Net Profit Margin (%) 8.50 11.00 9.70
Adjusted Net Profit Margin (%) 8.70 11.10 9.60
Asset Turnover(x) 3.70 3.50 3.40

Leverage
Debt/Equity ratio (x) 0.10 0.10 0.20
Total Debt/Total Assets (x) 0.10 0.10 0.10
Long term Debt/Networth (x) 0.10 0.10 0.10
Interest Coverage (x) 52.90 65.80 59.70

Liquidity
Current Ratio (x) 1.10 0.90 1.20
Quick Ratio (x) 0.60 0.40 0.50
Cash Ratio (x) 0.20 0.10 0.10

Working Capital
Working Capital to Sales (x) 0.10 -- 0.10
Working Capital Days (days gross sales) 19.10 7.20 16.20
Receivables (days gross sales) 23.60 23.60 26.60
Creditors (days cost of sales) 44.10 60.90 51.10
FG Inventory (days cost of sales) 34.90 46.80 49.60
RM Inventory (days consumption) 33.60 43.70 33.20

Cash Flow Indicator

Operating Cash Flow/Sales (%) 7.60 13.40 11.10

Per Share
Book Value Per Share (Rs) 113.60 96.40 77.30
Earnings Per Share (Rs) 37.80 39.10 28.40
Dividend Per Share (Rs) 17.50 17.00 13.00

Growth(%)
Total Operating Income 25.00 21.24 21.69
EBITDA 1.06 32.60 20.07
EBIT -1.53 37.11 23.19
Net Profit -3.42 37.92 45.65
Total Assets 15.38 18.26 20.23