Mar '06 Mar '07 Mar '08 Mar '09 Mar '10

Investment Valuation Ratios

Face Value 10 10 10 10
Dividend Per Share 6 6 -- --
Operating Profit Per Share (Rs) 163.57 119.89 87.32 69.32
Net Operating Profit Per Share (Rs) 659.5 817.5 1,020.58 1,340.28
Free Reserves Per Share (Rs) 231.88 227.36 198.05 133.52
Bonus in Equity Capital 10.89 10.89 10.89 10.89
Profitability Ratios
Operating Profit Margin(%) 24.8 14.66 8.55 5.17
Profit Before Interest And Tax Margin(%) 17.42 8.68 -0.26 -2.57
Gross Profit Margin(%) 25.5 8.79 -0.27 -2.6
Cash Profit Margin(%) 14.87 2.69 -0.29 -6.52
Adjusted Cash Margin(%) 9.15 2.69 -0.29 -6.52
Net Profit Margin(%) 7.83 0.39 -2.83 -3.44
Adjusted Net Profit Margin(%) 2.1 0.39 -2.83 -3.44
Return On Capital Employed(%) 15.38 8.71 0.65 -1.07
Return On Net Worth(%) 21.09 1.32 -13.66 -31.07
Adjusted Return on Net Worth(%) 5.67 -10.53 -43.41 -128.38
Return on Assets Excluding Revaluations 4.99 243.8 214.49 149.96
Return on Assets Including Revaluations 5.08 259.14 527.21 365.67
Return on Long Term Funds(%) 16.8 9.53 0.74 -1.41
Liquidity And Solvency Ratios
Current Ratio 1.66 1.07 0.61 0.37
Quick Ratio 1.97 1.18 0.77 1.09
Debt Equity Ratio 2.28 2.88 6.49 12.61
Long Term Debt Equity Ratio 2.21 2.75 5.63 9.33
Debt Coverage Ratios
Interest Cover 62.32 2.96 0.19 -0.26
Total Debt to Owners Fund 2.28 2.88 6.49 12.61
Financial Charges Coverage Ratio 2.15 1.24 0.82 0.49
Financial Charges Coverage Ratio Post Tax 2.24 1.49 1.5 1.34
Management Efficiency Ratios
Inventory Turnover Ratio 14.24 5,601.41 2,143.82 7,370.16
Debtors Turnover Ratio 16.61 13.61 9.19 11.31
Investments Turnover Ratio 4,951.07 5,601.41 2,143.82 7,370.16
Fixed Assets Turnover Ratio 1.67 1.28 0.54 0.62
Total Assets Turnover Ratio 0.83 0.89 0.65 0.66
Asset Turnover Ratio 1.38 1.28 0.54 0.62

Average Raw Material Holding -- -- -- --

Average Finished Goods Held -- -- -- --
Number of Days In Working Capital 140.75 47.57 -8.83 27.7
Profit & Loss Account Ratios
Material Cost Composition 1.1 -- -- --
Imported Composition of Raw Materials Consumed -- -- -- --
Selling Distribution Cost Composition 13.59 11.34 11.15 9.49
Expenses as Composition of Total Sales 24.1 26.39 29.47 42.29
Cash Flow Indicator Ratios
Dividend Payout Ratio Net Profit 13.06 216.89 -- --
Dividend Payout Ratio Cash Profit 6.88 13.7 -- --
Earning Retention Ratio 51.45 127.32 -- --
Cash Earning Retention Ratio 88.82 68.49 -- --
AdjustedCash Flow Times 9.27 31.49 -- --
Mar '06 Mar '07 Mar '08 Mar '09
Earnings Per Share 52.36 3.24 -29.31 -46.6
Book Value 248.32 243.8 214.49 149.96
 10
--
244.11
1,209.09
79.35
10.89

20.18
10.81
10.97
3.35
3.35
-4.41
-4.41
8.81
-56.54
-73.29
95.79
306.02
12.12

0.34
0.86
16.8
11.94

1.31
16.8
1.24
1.27

4,349.40
13.53
4,349.40
0.59
0.72
0.59

--
--
2.22
--
--
9.43
39.11

--
--
--
100
39.06
Mar '10
-54.17
95.79
 May '06 Mar '07 Mar '08 Mar '09
Investment Valuation Ratios
Face Value 10 10 10 10
Dividend Per Share -- -- -- --
Operating Profit Per Share (Rs) 1.18 -1.14 0.13 -2.16
Net Operating Profit Per Share (Rs) 22.76 26.61 53.81 70.1
Free Reserves Per Share (Rs) -11.2 -2.33 -8.95 -28.29
Bonus in Equity Capital -- -- -- --
Profitability Ratios
Operating Profit Margin(%) 5.18 -4.27 0.24 -3.07
Profit Before Interest And Tax Margin(%) 3.11 -4.88 -0.33 -3.37
Gross Profit Margin(%) 7.9 1.43 -0.35 -3.5
Cash Profit Margin(%) -7.63 -9.53 -13.27 -21
Adjusted Cash Margin(%) -12.3 -19.02 -13.27 -21
Net Profit Margin(%) -9.51 -10.39 -9.6 -19.43
Adjusted Net Profit Margin(%) -14.65 -19.88 -9.6 -19.43
Return On Capital Employed(%) 6.86 1.07 13.28 5.21
Return On Net Worth(%) 324.3 -38.33 -473.12 78.17
Adjusted Return on Net Worth(%) -- -73.3 -690.69 --
Return on Assets Excluding Revaluations -7.36 7.67 1.16 -18.07
Return on Assets Including Revaluations -7.36 7.67 1.16 -18.07
Return on Long Term Funds(%) 7.82 1.17 18.01 288.98
Liquidity And Solvency Ratios
Current Ratio 0.66 0.65 0.76 0.68
Quick Ratio 0.84 0.69 0.99 0.71
Debt Equity Ratio -- 2.34 19.3 --
Long Term Debt Equity Ratio -- 2.08 13.98 --
Debt Coverage Ratios
Interest Cover 8.71 2.44 8.38 0.26
Total Debt to Owners Fund -- 2.34 19.3 --
Financial Charges Coverage Ratio 0.42 0.09 0.32 0.03
Financial Charges Coverage Ratio Post Tax 0.65 0.54 0.54 0.11
Management Efficiency Ratios
Inventory Turnover Ratio 128.15 85.68 6,815.74 --
Debtors Turnover Ratio 163.8 143.45 364.02 242.27
Investments Turnover Ratio 695.93 1,123.59 6,815.74 --
Fixed Assets Turnover Ratio 1.81 1.13 17.36 --
Total Assets Turnover Ratio 1.07 1.05 2.32 --
Asset Turnover Ratio 9.96 12.21 17.36 20.7

Average Raw Material Holding -- -- -- --

Average Finished Goods Held -- -- -- --
Number of Days In Working Capital -20.31 -97.07 1.04 -41.23
Profit & Loss Account Ratios
Material Cost Composition 0.75 -- -- --
Imported Composition of Raw Materials Consumed -- -- -- --
Selling Distribution Cost Composition 3.49 3.09 6.27 5.94
Expenses as Composition of Total Sales 11.17 15.93 13.48 8.82
Cash Flow Indicator Ratios
Dividend Payout Ratio Net Profit -- -- -- --
Dividend Payout Ratio Cash Profit -- -- -- --
Earning Retention Ratio -- -- -- --
Cash Earning Retention Ratio -- -- -- --
AdjustedCash Flow Times -- -- -- --
May '06 Mar '07 Mar '08 Mar '09
Earnings Per Share -2.25 -2.94 -5.5 -14.13
Book Value -0.69 7.67 1.16 -18.07
Mar '10

10
--
17.77
90.17
-24.9
--

19.7
19.03
19.35
2.25
2.25
3.02
3.02
477
-19.24
--
-14.4
-14.4
994.35

0.64
0.65
--
--

74.88
--
1.14
1.18

--
139.13
148.16
--
22.69
24.73

--
--
-48.82
--
--
8.21
2.73

--
--
100
100
8.76
Mar '10
2.77
-14.4