RATIO ANALYSIS (

Instruction for the Ratio Analysis Assignment

1) Copy / Move the sheet to the main financial model excel file for the company
2) Punch the FY08 numbers in the existing file where already 2 financial year numbe
3) Perform the ratio analysis
4) There should not be any manual input on the 'ratio analysis' sheet. All the items s
5) In column C, mention the reference (P&L, BS, CF) from where the ratio is being ca
6) In column D, the formula should be mentioned - each item considered should be m
7) Column F, G and H should be linked to the respective P&L, BS and CF for the FY08
8) Each group 1-12 has to continue working on theindustry and the company already
9) Each group from 1 -12 have been further divided into Group A and Group B.
10) Group A and Group B should identify which ratio is relevant from equity / debt per
11) In column H, the interpretation of the set of ratio need to be mentioned. Interpret

Group A:
As per Group sheet, column L
Group A should work on from Equity stakeholders perspective

Group B:
As per Group sheet, column L
Group B should work on from debt stakeholders perspective
ANALYSIS (10 MARKS)

for the company

financial year numbers have been punched. Ratio analysis is to be done for the latest 3 annual numbers

sheet. All the items should be linked to the consolidated P&L, Balance Sheet and Cash Flow Analysis sheet/s
e the ratio is being calculated
onsidered should be mentioned
S and CF for the FY08, FY09 and FY10
the company already alloted in the earlier sessions
A and Group B.
rom equity / debt perspective and select "Yes / No" from the data validation
mentioned. Interpretation should be done for only those ratios which have been selected "Yes" in point 8)
nual numbers

w Analysis sheet/s

Yes" in point 8)
Serial No.First Name Group Primary Responsibility
1 Abhirup Nag Group 1 Company Profile
2 Prasun Misra Group 1 Team Leader Infosys
3 Akanksha Sadekar Group 1 Financials
4 Shankar Gupta Group 1 Financials
5 Rituraj P.Das Group 1 Company Profile
6 Ankit Joshi Group 1 Industry
7 Sravya Kamma Group 1 Industry
8 Arindam Mitra Group 2 Financials
9 Satish Shinde Group 2 Company Profile
10 Chinmayee Dash Group 2 Team Leader Maruti Suzuki
11 Niutpol Handique Group 2 Industry
12 Neha Mishra Group 2 Industry
13 Jitendra karwani Group 2 Company Profile
14 Niphul Jain Group 2 Financials
15 Sanghamitra Das Group 3 Industry
16 Pradyumna Mishra Group 3 Team Leader Tata Power
17 Diwakar Singh Group 3 Industry
18 Chhavi Khandelwal Group 3 Financials
19 Vikas Jain Group 3 Company Profile
20 Ankur Khandelwal Group 3 Financials
21 Devendra Kumar Group 3 Company Profile
22 yash ahuja Group 4 Company Profile
23 Ashish Shrivastava Group 4 Industry / Company Profile
24 Gunjan Agarwal Group 4 Industry
25 Arun Thakur Group 4 Team Leader ICICI Bank
26 Ajay garg Group 4 Financials
27 Ruchir Masand Group 4 Company Profile
28 Goldi Group 4 Financials
29 Pooja shugani Group 4 Industry
30 Supriya Bikkina Group 5 Company Profile
31 Lakshman Tunk Group 5 Company Profile
32 Vineet Agrawal Group 5 Team Leader TATA Steel
33 Sparsh Goel Group 5 Financials
34 Nirav Kansariwala Group 5 Industry
35 Akshata Agarwal Group 5 Financials
36 Pawan kumar soni Group 5 Industry
37 Ankit Gupta Group 6 Industry
38 Dhara Badiani Group 6 Financials
39 Arpit Verma Group 6 Company Profile
40 Gaurav Jangid Group 6 Financials
41 Tejas Prabhu Group 6 Industry
42 Arjun Vig Group 6 Team Leader DLF
43 Ajay Saxena Group 6 Company Profile
44 Vikram Dhariwal Group 7 Industry
45 Kirti Sukhwani Group 7 Company Profile
46 Rohit Agarwal Group 7 Company Profile
47 Prathamesh Padwal Group 7 Team Leader Tata Power
48 Garima Barthwal Group 7 Financials
49 Ajay ku. Jha Group 7 Financials
50 Abhisek das Group 7 Industry
51 Samarth Tandon Group 8 Financials
52 Mohd. Ansari Group 8 Team Leader TATA Steel
53 Umakumari Agrawal Group 8 Company Profile
54 Vasim Khan Group 8 Industry / Company Profile
55 Saurav Das Group 8 Financials
56 Teena Wasan Group 8 Industry
57 Kush Ghodasara Group 8 Company Profile
58 Renuka Saxena Group 8 Industry
59 Merly Varghese Group 9 Industry
60 Ahmed Shaikh Group 9 Team Leader DLF
61 Bhavesh Kothari Group 9 Company Profile
62 Neha Karanpuria Group 9 Industry
63 Shreya Taneja Group 9 Financials
64 Akhilesh Maloo Group 9 Company Profile
65 Jitendra Nahar Group 9 Financials
66 Abhijit Dhote Group 10Team Leader ICICI Bank
67 Yasmin Rassiwala Group 10Company Profile
68 Abhivandana Jain Group 10Financials
69 Ashutosh Kodule Group 10Company Profile
70 Rohit Kumar Gupta Group 10Industry
71 Lalit Kumar Bafna Group 10Financials
72 Sidhartha Kumar Barik Group 10Industry
73 Sagar Mehra Group 11Financials
74 Ratika Dhawan Group 11Financials
75 Punit Agrawal Group 11Team Leader Maruti Suzuki
76 Shivika Bansal Group 11Industry
77 Anil Kumar Mishra Group 11Company Profile
78 Vinay Madaan Group 11Company Profile
79 Nikunj tank Group 11Industry
80 Ashita Tandon Group 12Industry
81 Mukesh Kanodia Group 12Financials
82 Arup banarjee Group 12Industry
83 Pankajkumar Tiwari Group 12Company Profile
84 Sumit Golcha Group 12Financials
85 Sreenu Ronanki Group 12Company Profile
86 Amita Singh Group 12Team Leader Infosys
Group
(Group A )
(Group A )
(Group A )
(Group B )
(Group B )
(Group A )
(Group B )
(Group A )
(Group A )
(Group B )
(Group A )
(Group B )
(Group B )
(Group B )
(Group A )
(Group A )
(Group B )
(Group A )
(Group A )
(Group B )
(Group B )
(Group A )
(Group A )
(Group B )
(Group B )
(Group A )
(Group B )
(Group B )
(Group A )
(Group A )
(Group B )
(Group A )
(Group A )
(Group B )
(Group B )
(Group A )
(Group B )
(Group A )
(Group A )
(Group B )
(Group A )
(Group B )
(Group B )
(Group B )
(Group A )
(Group B )
(Group A )
(Group A )
(Group B )
(Group A )
(Group A )
(Group B )
(Group A )
(Group A )
(Group B )
(Group A )
(Group B )
(Group B )
(Group A )
(Group A )
(Group A )
(Group B )
(Group A )
(Group B )
(Group B )
(Group B )
(Group A )
(Group A )
(Group B )
(Group A )
(Group B )
(Group B )
(Group A )
(Group B )
(Group A )
(Group A )
(Group A )
(Group B )
(Group B )
(Group A )
(Group A )
(Group B )
(Group A )
(Group B )
(Group B )
(Group B )
 Combination of P&L,
Types of shares
BS, CF

Per Share

Revenue / share P&L

EPS (Reported) P&L

EPS Normalized P&L

Dividend / share

Total Cash & ST Investment / Share

Cash Flow / Share

Book Value / Share

Tangible Book Value / Share BS & P&L

Reinvestment rate per share

Return on equity per share

Dividends

DPS

Dividend Yield

Dividend Payout Ratio

Dividend per share Growth

Profitability Ratios (%)

Gross Margin

EBIT Margin (Adjusted)

EBIT Margin (Without adjustment)

EBITDA Margin (Adjusted)

EBITDA Margin (Without adjustment)

Income Before Tax Margin (Adjusted)

Net Margin

Levered Free Cash Flow Margin CF & P&L

Unlevered Free Cash Flow Margin

Return on assets

Return on common equity

Return on invested capital

Margins Analysis

Gross Margin

EBIT Margin (Adjusted)

EBIT Margin (Without adjustment)

EBITDA Margin (Adjusted)

EBITDA Margin (Without adjustment)

Income Before Tax Margin (Adjusted)

Net Margin

Levered Free Cash Flow Margin

Unlevered Free Cash Flow Margin

SG&A / Sales %

Account payable / Sales

R&D / Sales

Financial Strength

Quick Ratio

Curr Ratio

Cash Ratio

LT Debt / TotAL EqUIty

LT Debt / Long Term Total Capital

LT Debt/ TotAL Assets

Total Debt / Total Equity

Total Debt / Total Assets

Interest Coverage Ratio

Interest Coverage Ratio (Adjusted)

Total Debt/Total Capital

Total Liabilities/Total Assets

Earnings Retention Rate

Liquidity Ratios

Acc receivable days

Receivables / current assets

Quick Ratio

Curr Ratio

Cash Ratio

Growth Rates (%)

Revenue Growth

Gross Profit Growth

EBIT Growth (Adjusted)

EBIT Growth (Without adjustment)

EBITDA Growth (Adjusted)

EBITDA Growth (Without adjustment)

Net Earnings Growth

EPS Growth

Dividend Growth

Dividend Per Share Growth

Revenue - 3 Yr. Growth Rate:

EPS - 3 Yr. Growth Rate: (normalized)

Capex Growth

Leverage Ratios

LT Debt/Long Term Total Capital

Fixed charge coverage ratio

LT debt / Common Equity

Total Capital / Total Assets

Total Debt / Common Equity

Total Debt / Total Assets

Working Capital / Total Capital

Employees

# of Employee (manually punch here)

Employee Growth

Sales per employee

EBITDA per employee (Adjusted)

EBITDA per employee ( without adjustment)

Efficiency Ratios

Revenue/Receivables

Inventory Turnover

Revenue/Total Assets (Assets turnover ratio)

Total Asset Turnover

Fixed Asset Turnover

Accounts Receivable Turnover

Accumulated Depreciation / fixed assets

Assets per employee

Capital Expenditure / sales

Cap Expenditure / total assets

Inventory Turnover

Sales per employee

Income After Tax/Employee

Income After Tax (before extraordinary items)/Employee

Avg. Days Sales Outstanding

Avg. Days Inventory Outstanding

Avg. Days Payable Outstanding

Avg. Cash Conversion Cycle

Management Effectiveness (%)

Return on Common Equity

Return on Total LT Capital

Return on Total Assets

Coverage Ratios

EBIT / Interest Exp. (Adjusted)

EBIT / Interest Exp. (Without adjsutment)

EBITDA / Interest Exp. (Without adjustment)

EBITDA / Interest Exp. (Adjusted)

(EBITDA-CAPEX) / Interest Exp. (Without adjustment)

(EBITDA-CAPEX) / Interest Exp. (Adjusted)

Total Debt/EBITDA (Without adjustment)

Total Debt/EBITDA (Adjusted)

Net Debt/EBITDA (Without adjustment)

Net Debt/EBITDA (Adjusted)

Total Debt/(EBITDA-CAPEX) (Without adjustment)

Total Debt/(EBITDA-CAPEX) (Adjusted)

Net Debt/(EBITDA-CAPEX) (Without adjustment) P&L, BS , CF

Net Debt/(EBITDA-CAPEX) (Adjusted)

Expense Ratios

COGS / Sales %

SG&A / Sales %

R&D / Sales %

Depreciation Expense / Sales %

Other Operating Expenses / Sales %

Operating income / Sales %

Non operating expenses / Sales %

Net Interest Expense / Sales %

Pretax Income / Sales % (non adjusted)

Income tax expense / Sales %

Income before XO Items / Sales %

Profit Margin

EBIT / Sales % (Adjusted)

EBIT / Sales % (Without adjustment)

Total Cash Preferred Dividends / Sales %

Total Common Dividend / Sales %

Reinvested Earnings / Sales %

Reinvested Earnings / Sales %

Net debt/ Net total capital(gearing ratio)

Net debt/(total capital + operating leases)

Equity Ratio (Equity/TA)

Capitalization Ratio (Fixed assets / TA)

Non-Current assest/TA

Fixed Assets/Non Current Assets

Total Equity/FA

(Equity+Laibility LT)/FA

EBITDAR/Interest (Without adjustments)

EBITDAR/Interest (Adjusted)

EBITA Margin (without Adjustments)

EBITA Margin (Adjusted)

Income available for common shareholders margin

Cash Flow from Operations / current liability

EBITA growth (Adjusted)

EBITA growth (Without Adjustment)

Net working capital/revenues

 COMPANY NAME

Formula FY 2008

Total Revenue/Weighted average shares (Basic)

Reported Net Income/Weighted average shares
(Basic)
Reported Net Income before Extraordinary
Items/Weighted average shares (Basic)

(Total Assets - Goodwill - Net Intangible

Assets)/Weighted average shares (Basic)
(Cash from Operating Activities - Capital
Expenditure)/Total Revenue
ANY NAME

Equity Debt
FY 2009 FY 2010
Stakeholder Stakeholder
Yes

No
Interpretation of the ratios