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Naresh Chaudhary Company Analysis

Naresh Chaudhary Company Analysis

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PARTICULARS 2006-2007 2007-2008 2008-2009

PAT 4,441.81 4,396.07 2,727.61
Dividend 211.26 211.26 169.01
Equity 422.53 422.53 422.53
Net Sales 8,547.42 7,895.47 5,688.51
DIVIDEND PAYOUT 4.76% 4.81% 6.20%
RETENTION RATIO 95.24% 95.19% 93.80%
RETURN ON EQUITY 10.51241 10.404161 6.455423284
GROWTH 10.01243 9.9041725 6.055428017 8.65734188
EPS 105.1236 104.04111 64.55392728
DPS 5.00 5.00 4.00
2006-2007
4,441.81
156.08
0.39
CAP . EX ON FIX. ASSETS 1127.1
128.79
3,342.39
CAPM -APPROACH
RISK-FREE RATE 7.40%
15%
FCFE
MARKET RETURN
HINDUSTAN ZINC LTD.
PAT
DEPRECIATION
TOTAL DEBT
CAP. EX. ON C. ASSETS
FUTURE VALUATION OF EPS,GROWTH ,DPS AND ROE
FCFE CALCULATION
FORECASTED
GROWTH(09-10)
0.12323179
0.08336562
BETA
REUIRED RATE OF RETURN
FORECASTED
2009-2010 PARICULARS 2006-2007 2007-2008
2963.748523 NO. OF OUTSTANDING SHARES 42.2532 42.2532
183.6417735 SHARE PRICE(as on 31st march) 563.35 526.5
422.53 NET CASH FLOW 119.7 1362.78
6180.983759 BOOK VALUE 180.51 280.41
6.73% P/SALES 2.784857 2.817604
93.27% P/CASH FLOW 198.8583 16.32421
7.014291347 P/BOOK VALUE 3.12088 1.877608
8.657341885 P/E RATIO 5.358928 5.060499
70.14258146
4.346221671
FORECASTED
2007-2008 2008-2009 2009-2010
4,396.07 2,727.61 2963.748523
220.51 285.27 309.9667992
0.39 8.69 9.44232301
1368.62 1379.25 1498.656388
149.56 366.96 398.7289818
3,098.79 1,275.36 1,385.77
1385.772275
HINDUSTAN ZINC LTD.
MEASURE OF RELATIVE VALUE FUTURE VALUATION OF EPS,GROWTH ,DPS AND ROE
FCFE CALCULATION
FORECASTED
10)
TREASURY BILL AS ON 31st ,
MARCH 2009
Market return being negative due to last year receesion
period,so it has been assumed to be 15%
FORECASTED
2008-2009 2009-2010
42.2532 42.2532 ASSUMED TO BE SAME
447.4 512.4166667
2719.15 2954.556112
339.8 369.2176477
3.323204 3.502879921
6.952203 7.328086887
1.316657 1.387844459
6.93064 7.305357972
MEASURE OF RELATIVE VALUE
ASSUMPTIONS FOR THE EXPECTED VALUES IN 2009-2010
1.EQUITY HAS REMAINED SAME FOR THE LAST THREE CONSECUTIVE YEARS AND SO IT IS ASSSUMED TO BE
SAME FOR THE NEXT YEAR ALSO.

2. THE GROWTH IS ANALYSED FOR THE LAST THREE YEARS AND THE AVERAGE GROWTH RATE HAS BEEN
CONSIDERED TO BE THE EFFICIENT GROWTH RATE FOR THE COMING YEAR.

3.AND ALL THE VALUE ARE CONSISDERED TO GROW WITH THE GROWTH RATE.

4. THERE IS NO SPECIFIC CHANGE IN EFFECTIVE TAX RATE.

5.AS THE RECCESSION IS ABOUT TO END ,I EXPECTS THAT SALES WILL INCREASE . BUT ON THE OTHER HAND
DUE TO FALL IN THE PRICES OF ZINC THIS WILL CONSIDER ONLY SUBSTANTIAL GROWTH RATE
i.e 8-9%(which is the average of the last 3 year)
2010
HAS REMAINED SAME FOR THE LAST THREE CONSECUTIVE YEARS AND SO IT IS ASSSUMED TO BE
2. THE GROWTH IS ANALYSED FOR THE LAST THREE YEARS AND THE AVERAGE GROWTH RATE HAS BEEN
CONSIDERED TO BE THE EFFICIENT GROWTH RATE FOR THE COMING YEAR.
3.AND ALL THE VALUE ARE CONSISDERED TO GROW WITH THE GROWTH RATE.
5.AS THE RECCESSION IS ABOUT TO END ,I EXPECTS THAT SALES WILL INCREASE . BUT ON THE OTHER HAND
DUE TO FALL IN THE PRICES OF ZINC THIS WILL CONSIDER ONLY SUBSTANTIAL GROWTH RATE
MARKET REURN
DATE HIND ZINC RETURN SENSEX RETURN
2-Apr-07 570.6 13124.32
3-Apr-07 574.1 0.006134 12884.34 -0.01829
4-Apr-07 618.25 0.076903 12979.66 0.007398
5-Apr-07 648.15 0.048362 13072.1 0.007122
9-Apr-07 670 0.033711 12455.37 -0.04718
10-Apr-07 679.3 0.013881 12624.58 0.013585 Regression Statistics
11-Apr-07 701.7 0.032975 12786.77 0.012847
12-Apr-07 682.3 -0.02765 12856.08 0.00542
13-Apr-07 671.6 -0.01568 13177.74 0.02502
16-Apr-07 660.8 -0.01608 13189.54 0.000895
17-Apr-07 639.55 -0.03216 13183.24 -0.00048
18-Apr-07 668.2 0.044797 13113.81 -0.00527
19-Apr-07 650.45 -0.02656 13384.08 0.02061
20-Apr-07 661.65 0.017219 13695.58 0.023274
23-Apr-07 663.15 0.002267 13607.04 -0.00646
24-Apr-07 681.65 0.027897 13672.19 0.004788
25-Apr-07 654 -0.04056 13619.7 -0.00384
26-Apr-07 666.95 0.019801 13897.41 0.02039
27-Apr-07 652.55 -0.02159 13928.33 0.002225
30-Apr-07 679.05 0.04061 14136.72 0.014962
3-May-07 742.15 0.092924 14217.77 0.005733
4-May-07 736.1 -0.00815 14228.88 0.000781
7-May-07 722.55 -0.01841 13908.58 -0.02251
8-May-07 701.25 -0.02948 13872.37 -0.0026
9-May-07 700.75 -0.00071 14078.21 0.014838
10-May-07 717 0.023189 13934.27 -0.01022
11-May-07 711.85 -0.00718 13879.25 -0.00395
14-May-07 706.3 -0.0078 13765.46 -0.0082
15-May-07 696.1 -0.01444 13781.51 0.001166
16-May-07 685.85 -0.01472 13771.23 -0.00075
17-May-07 674.7 -0.01626 13796.16 0.00181
18-May-07 669.25 -0.00808 13965.86 0.012301
21-May-07 678.65 0.014046 13929.33 -0.00262
22-May-07 694.25 0.022987 14127.31 0.014213
23-May-07 668.55 -0.03702 14299.71 0.012203
24-May-07 669.4 0.001271 14303.41 0.000259
25-May-07 656.8 -0.01882 14418.6 0.008053
28-May-07 654.5 -0.0035 14453.72 0.002436
29-May-07 658.05 0.005424 14363.26 -0.00626
30-May-07 647.95 -0.01535 14218.11 -0.01011
31-May-07 656.6 0.01335 14338.45 0.008464
1-Jun-07 647.8 -0.0134 14397.89 0.004145
BETA AND MARKET RETURN
4-Jun-07 677.6 0.046002 14508.21 0.007662
5-Jun-07 680.7 0.004575 14411.38 -0.00667
6-Jun-07 677.45 -0.00477 14544.46 0.009234
7-Jun-07 661.95 -0.02288 14570.75 0.001808
8-Jun-07 656.55 -0.00816 14495.77 -0.00515
11-Jun-07 652.8 -0.00571 14535.01 0.002707
12-Jun-07 655.1 0.003523 14255.93 -0.0192
13-Jun-07 643.8 -0.01725 14186.18 -0.00489
14-Jun-07 648.35 0.007067 14063.81 -0.00863
15-Jun-07 669.3 0.032313 14083.41 0.001394
18-Jun-07 681.45 0.018153 14130.95 0.003376
19-Jun-07 670.05 -0.01673 14003.03 -0.00905
20-Jun-07 717.95 0.071487 14203.72 0.014332
21-Jun-07 750.1 0.04478 14162.71 -0.00289
22-Jun-07 722.6 -0.03666 14080.14 -0.00583
25-Jun-07 731.2 0.011901 14295.5 0.015295
26-Jun-07 724.1 -0.00971 14411.95 0.008146
27-Jun-07 707.75 -0.02258 14499.24 0.006057
28-Jun-07 696.9 -0.01533 14467.36 -0.0022
29-Jun-07 704.55 0.010977 14487.72 0.001407
2-Jul-07 711.45 0.009793 14501.08 0.000922
3-Jul-07 728.6 0.024106 14431.06 -0.00483
4-Jul-07 722.65 -0.00817 14504.57 0.005094
5-Jul-07 720.65 -0.00277 14650.51 0.010062
6-Jul-07 716.05 -0.00638 14664.26 0.000939
9-Jul-07 720.45 0.006145 14806.51 0.0097
10-Jul-07 705.6 -0.02061 14880.24 0.00498
11-Jul-07 732.25 0.037769 14861.89 -0.00123
12-Jul-07 739.4 0.009764 14964.12 0.006879
13-Jul-07 798.4 0.079794 15045.73 0.005454
16-Jul-07 783.6 -0.01854 15009.88 -0.00238
17-Jul-07 781.25 -0.003 14910.62 -0.00661
18-Jul-07 770.9 -0.01325 15092.04 0.012167
19-Jul-07 770.3 -0.00078 15272.72 0.011972
20-Jul-07 790.45 0.026159 15311.22 0.002521
23-Jul-07 781.65 -0.01113 15289.82 -0.0014
24-Jul-07 771.95 -0.01241 15301.17 0.000742
25-Jul-07 757.4 -0.01885 15550.13 0.016271
26-Jul-07 743.4 -0.01848 15565.55 0.000992
27-Jul-07 706.45 -0.0497 15732.2 0.010706
30-Jul-07 707.05 0.000849 15794.92 0.003987
31-Jul-07 753.3 0.065413 15699.33 -0.00605
1-Aug-07 705.25 -0.06379 15776.31 0.004903
2-Aug-07 707.8 0.003616 15234.57 -0.03434
3-Aug-07 717.55 0.013775 15260.91 0.001729
6-Aug-07 725 0.010383 15550.99 0.019008
7-Aug-07 728.6 0.004966 14935.77 -0.03956
8-Aug-07 730.8 0.003019 14985.7 0.003343
9-Aug-07 729.25 -0.00212 15138.4 0.01019
10-Aug-07 709.9 -0.02653 14903.03 -0.01555
13-Aug-07 712.15 0.003169 14932.77 0.001996
14-Aug-07 710.2 -0.00274 15307.98 0.025127
16-Aug-07 688.1 -0.03112 15100.15 -0.01358
17-Aug-07 670.45 -0.02565 14868.25 -0.01536
20-Aug-07 682.15 0.017451 15017.21 0.010019
21-Aug-07 674 -0.01195 15000.91 -0.00109
22-Aug-07 694.5 0.030415 14358.21 -0.04284
23-Aug-07 676 -0.02664 14141.52 -0.01509
24-Aug-07 679.9 0.005769 14427.55 0.020226
27-Aug-07 686.8 0.010149 13989.11 -0.03039
28-Aug-07 696.6 0.014269 14248.66 0.018554
29-Aug-07 702.65 0.008685 14163.98 -0.00594
30-Aug-07 701.3 -0.00192 14424.87 0.018419
31-Aug-07 722.45 0.030158 14842.38 0.028944
3-Sep-07 725.75 0.004568 14919.19 0.005175
4-Sep-07 720.8 -0.00682 14993.04 0.00495
5-Sep-07 706.15 -0.02032 15121.74 0.008584
6-Sep-07 723.95 0.025207 15318.6 0.013018
7-Sep-07 714.05 -0.01367 15422.05 0.006753
10-Sep-07 712.55 -0.0021 15465.4 0.002811
11-Sep-07 706.35 -0.0087 15446.15 -0.00124
12-Sep-07 709.75 0.004813 15616.31 0.011016
13-Sep-07 702 -0.01092 15590.42 -0.00166
14-Sep-07 703.45 0.002066 15596.83 0.000411
17-Sep-07 712.1 0.012297 15542.77 -0.00347
18-Sep-07 714.3 0.003089 15505.36 -0.00241
19-Sep-07 733.6 0.027019 15614.44 0.007035
20-Sep-07 762.65 0.039599 15603.8 -0.00068
21-Sep-07 754.8 -0.01029 15504.43 -0.00637
24-Sep-07 763.8 0.011924 15669.12 0.010622
25-Sep-07 780.75 0.022192 16322.75 0.041715
26-Sep-07 777.8 -0.00378 16347.95 0.001544
27-Sep-07 781 0.004114 16564.23 0.01323
28-Sep-07 811.1 0.03854 16845.83 0.017
1-Oct-07 825.5 0.017754 16899.54 0.003188
3-Oct-07 865.2 0.048092 16921.39 0.001293
4-Oct-07 858.4 -0.00786 17150.56 0.013543
5-Oct-07 841.5 -0.01969 17291.1 0.008194
8-Oct-07 824.55 -0.02014 17328.62 0.00217
9-Oct-07 816.9 -0.00928 17847.04 0.029917
10-Oct-07 837.3 0.024972 17777.14 -0.00392
11-Oct-07 853.3 0.019109 17773.36 -0.00021
12-Oct-07 857.1 0.004453 17491.39 -0.01586
15-Oct-07 891.25 0.039844 18280.24 0.045099
16-Oct-07 952.65 0.068892 18658.25 0.020679
17-Oct-07 944.05 -0.00903 18814.07 0.008351
18-Oct-07 894.2 -0.0528 18419.04 -0.021
19-Oct-07 847.4 -0.05234 19058.67 0.034727
22-Oct-07 840.3 -0.00838 19051.86 -0.00036
23-Oct-07 847.4 0.008449 18715.82 -0.01764
24-Oct-07 834.2 -0.01558 17998.39 -0.03833
25-Oct-07 830.9 -0.00396 17559.98 -0.02436
26-Oct-07 832.2 0.001565 17613.99 0.003076
29-Oct-07 856 0.028599 18492.84 0.049895
30-Oct-07 869.25 0.015479 18512.91 0.001085
31-Oct-07 905.55 0.04176 18770.89 0.013935
1-Nov-07 870.4 -0.03882 19243.17 0.02516
2-Nov-07 883.95 0.015568 19977.67 0.038169
5-Nov-07 861.05 -0.02591 19783.51 -0.00972
6-Nov-07 848.25 -0.01487 19837.99 0.002754
7-Nov-07 844.1 -0.00489 19724.35 -0.00573
8-Nov-07 806 -0.04514 19976.23 0.01277
9-Nov-07 814.45 0.010484 19590.78 -0.0193
12-Nov-07 790.35 -0.02959 19400.67 -0.0097
13-Nov-07 799.45 0.011514 19289.83 -0.00571
14-Nov-07 811.6 0.015198 19058.93 -0.01197
15-Nov-07 817.2 0.0069 18907.6 -0.00794
16-Nov-07 808.15 -0.01107 18737.27 -0.00901
19-Nov-07 811.2 0.003774 19035.48 0.015915
20-Nov-07 795.8 -0.01898 19929.06 0.046943
21-Nov-07 733.65 -0.0781 19784.89 -0.00723
22-Nov-07 715.3 -0.02501 19698.36 -0.00437
23-Nov-07 685.05 -0.04229 19633.36 -0.0033
26-Nov-07 692.85 0.011386 19280.8 -0.01796
27-Nov-07 729.9 0.053475 18602.62 -0.03517
28-Nov-07 777.55 0.065283 18526.32 -0.0041
29-Nov-07 787.65 0.01299 18852.87 0.017626
30-Nov-07 811.55 0.030343 19247.54 0.020934
3-Dec-07 832.7 0.026061 19127.73 -0.00622
4-Dec-07 806.7 -0.03122 18938.87 -0.00987
5-Dec-07 817.6 0.013512 19003.26 0.0034
6-Dec-07 822.35 0.00581 19363.19 0.01894
7-Dec-07 805 -0.0211 19603.41 0.012406
10-Dec-07 801.6 -0.00422 19529.5 -0.00377
11-Dec-07 800.15 -0.00181 19738.07 0.01068
12-Dec-07 813.2 0.016309 19795.87 0.002928
13-Dec-07 822.15 0.011006 19966 0.008594
14-Dec-07 847.65 0.031016 19930.68 -0.00177
17-Dec-07 802.7 -0.05303 20290.89 0.018073
18-Dec-07 785.7 -0.02118 20375.87 0.004188
19-Dec-07 777.1 -0.01095 20104.39 -0.01332
20-Dec-07 763.05 -0.01808 20030.83 -0.00366
24-Dec-07 771.25 0.010746 19261.35 -0.03841
26-Dec-07 791.5 0.026256 19079.64 -0.00943
27-Dec-07 774.25 -0.02179 19091.96 0.000646
28-Dec-07 816.15 0.054117 19162.57 0.003698
31-Dec-07 827.25 0.0136 19854.12 0.036089
1-Jan-08 831.85 0.005561 20192.52 0.017044
2-Jan-08 823.6 -0.00992 20216.72 0.001198
3-Jan-08 805.65 -0.02179 20206.95 -0.00048
4-Jan-08 822.7 0.021163 20286.99 0.003961
7-Jan-08 808.95 -0.01671 20465.3 0.008789
8-Jan-08 791.3 -0.02182 20345.2 -0.00587
9-Jan-08 796.9 0.007077 20686.89 0.016795
10-Jan-08 781.9 -0.01882 20812.65 0.006079
11-Jan-08 767.8 -0.01803 20873.33 0.002916
14-Jan-08 764.2 -0.00469 20869.78 -0.00017
15-Jan-08 751.2 -0.01701 20582.08 -0.01379
16-Jan-08 729.55 -0.02882 20827.45 0.011922
17-Jan-08 739.15 0.013159 20728.05 -0.00477
18-Jan-08 711.2 -0.03781 20251.09 -0.02301
21-Jan-08 622.4 -0.12486 19868.11 -0.01891
22-Jan-08 554.8 -0.10861 19700.82 -0.00842
23-Jan-08 648.05 0.168079 19013.7 -0.03488
24-Jan-08 568.65 -0.12252 17605.35 -0.07407
25-Jan-08 581.45 0.022509 16729.94 -0.04972
28-Jan-08 569.5 -0.02055 17594.07 0.051652
29-Jan-08 571.9 0.004214 17221.74 -0.02116
30-Jan-08 598.3 0.046162 18361.66 0.066191
31-Jan-08 601.4 0.005181 18152.78 -0.01138
1-Feb-08 619.45 0.030013 18091.94 -0.00335
4-Feb-08 630.55 0.017919 17758.64 -0.01842
5-Feb-08 639.45 0.014115 17648.71 -0.00619
6-Feb-08 636.7 -0.0043 18242.58 0.033649
7-Feb-08 607.5 -0.04586 18660.32 0.022899
8-Feb-08 593.35 -0.02329 18663.16 0.000152
11-Feb-08 561.3 -0.05402 18139.49 -0.02806
12-Feb-08 549.8 -0.02049 17526.93 -0.03377
13-Feb-08 529.9 -0.03619 17464.89 -0.00354
14-Feb-08 567.3 0.070579 16630.91 -0.04775
15-Feb-08 589.55 0.039221 16608.01 -0.00138
18-Feb-08 589 -0.00093 16949.14 0.02054
19-Feb-08 600.45 0.01944 17766.63 0.048232
20-Feb-08 601.45 0.001665 18115.25 0.019622
21-Feb-08 612.35 0.018123 18075.66 -0.00219
22-Feb-08 622.85 0.017147 17617.6 -0.02534
25-Feb-08 639.6 0.026893 17734.68 0.006646
26-Feb-08 649.85 0.016026 17349.07 -0.02174
27-Feb-08 667.85 0.027699 17650.57 0.017378
28-Feb-08 663.2 -0.00696 17806.19 0.008817
29-Feb-08 658.15 -0.00761 17825.99 0.001112
3-Mar-08 629.95 -0.04285 17824.48 -8.5E-05
4-Mar-08 610.7 -0.03056 17578.72 -0.01379
5-Mar-08 605.2 -0.00901 16677.88 -0.05125
7-Mar-08 593.25 -0.01975 16339.89 -0.02027
10-Mar-08 575.05 -0.03068 16542.08 0.012374
11-Mar-08 590.2 0.026346 15975.52 -0.03425
12-Mar-08 590.5 0.000508 15923.72 -0.00324
13-Mar-08 582.3 -0.01389 16123.15 0.012524
14-Mar-08 576.45 -0.01005 16127.98 0.0003
17-Mar-08 540.85 -0.06176 15357.35 -0.04778
18-Mar-08 520 -0.03855 15760.52 0.026253
19-Mar-08 539.6 0.037692 14809.49 -0.06034
24-Mar-08 531 -0.01594 14833.46 0.001619
25-Mar-08 538.35 0.013842 14994.83 0.010879
26-Mar-08 536.55 -0.00334 15289.4 0.019645
27-Mar-08 519.85 -0.03112 16217.49 0.060702
28-Mar-08 536.8 0.032606 16086.83 -0.00806
31-Mar-08 525.25 -0.02152 16015.56 -0.00443
1-Apr-08 533.35 0.015421 16371.29 0.022212
2-Apr-08 541.1 0.014531 15644.44 -0.0444
3-Apr-08 535.95 -0.00952 15626.62 -0.00114
4-Apr-08 510.85 -0.04683 15750.4 0.007921
7-Apr-08 514.4 0.006949 15832.55 0.005216
8-Apr-08 533.25 0.036645 15343.12 -0.03091
9-Apr-08 538.8 0.010408 15757.08 0.02698
10-Apr-08 540 0.002227 15587.62 -0.01075
11-Apr-08 555.5 0.028704 15790.51 0.013016
15-Apr-08 558.15 0.00477 15695.1 -0.00604
16-Apr-08 552.1 -0.01084 15807.64 0.00717
17-Apr-08 593.05 0.074171 16153.66 0.021889
21-Apr-08 588.45 -0.00776 16244.19 0.005604
22-Apr-08 581.35 -0.01207 16481.2 0.01459
23-Apr-08 625.9 0.076632 16739.33 0.015662
24-Apr-08 634 0.012941 16783.87 0.002661
25-Apr-08 671.2 0.058675 16698.04 -0.00511
28-Apr-08 681.8 0.015793 16721.08 0.00138
29-Apr-08 665.5 -0.02391 17125.98 0.024215
30-Apr-08 638.75 -0.0402 17015.96 -0.00642
2-May-08 625.3 -0.02106 17378.46 0.021304
5-May-08 630.05 0.007596 17287.31 -0.00524
6-May-08 648.6 0.029442 17600.12 0.018095
7-May-08 659.95 0.017499 17490.9 -0.00621
8-May-08 663.35 0.005152 17373.01 -0.00674
9-May-08 641.9 -0.03234 17339.31 -0.00194
12-May-08 627.75 -0.02204 17080.65 -0.01492
13-May-08 625.55 -0.0035 16737.07 -0.02012
14-May-08 733.5 0.172568 16860.9 0.007399
15-May-08 730.95 -0.00348 16752.86 -0.00641
16-May-08 729.6 -0.00185 16978.35 0.01346
20-May-08 730.45 0.001165 17353.54 0.022098
21-May-08 752.7 0.030461 17434.94 0.004691
22-May-08 718.1 -0.04597 17230.18 -0.01174
23-May-08 677.5 -0.05654 17243.16 0.000753
26-May-08 661.05 -0.02428 16907.11 -0.01949
27-May-08 646.35 -0.02224 16649.64 -0.01523
28-May-08 654.1 0.01199 16348.5 -0.01809
29-May-08 641.95 -0.01858 16275.59 -0.00446
30-May-08 655.6 0.021263 16525.37 0.015347
2-Jun-08 626.1 -0.045 16316.26 -0.01265
3-Jun-08 629.2 0.004951 16415.57 0.006087
4-Jun-08 599.75 -0.04681 16063.18 -0.02147
5-Jun-08 589.05 -0.01784 15962.56 -0.00626
6-Jun-08 584.75 -0.0073 15514.79 -0.02805
9-Jun-08 573.65 -0.01898 15769.72 0.016431
10-Jun-08 563.9 -0.017 15572.18 -0.01253
11-Jun-08 592.85 0.051339 15066.1 -0.0325
12-Jun-08 595.2 0.003964 14889.25 -0.01174
13-Jun-08 590.55 -0.00781 15185.32 0.019885
16-Jun-08 589.3 -0.00212 15250.2 0.004273
17-Jun-08 588.1 -0.00204 15189.62 -0.00397
18-Jun-08 567.2 -0.03554 15395.82 0.013575
19-Jun-08 583.65 0.029002 15696.9 0.019556
20-Jun-08 576.8 -0.01174 15422.31 -0.01749
23-Jun-08 540.4 -0.06311 15087.99 -0.02168
24-Jun-08 550.1 0.01795 14571.29 -0.03425
25-Jun-08 540.6 -0.01727 14293.32 -0.01908
26-Jun-08 522.9 -0.03274 14106.58 -0.01306
27-Jun-08 533.6 0.020463 14220.07 0.008045
30-Jun-08 531.9 -0.00319 14421.82 0.014188
1-Jul-08 492.45 -0.07417 13802.22 -0.04296
2-Jul-08 496.95 0.009138 13461.6 -0.02468
3-Jul-08 482.3 -0.02948 12961.68 -0.03714
4-Jul-08 506.1 0.049347 13664.62 0.054232
7-Jul-08 493.7 -0.0245 13094.11 -0.04175
8-Jul-08 507 0.026939 13454 0.027485
9-Jul-08 519.05 0.023767 13525.99 0.005351
10-Jul-08 550.25 0.06011 13349.65 -0.01304
11-Jul-08 539.65 -0.01926 13964.26 0.046039
14-Jul-08 581.95 0.078384 13926.24 -0.00272
15-Jul-08 548.15 -0.05808 13469.85 -0.03277
16-Jul-08 529.9 -0.03329 13330.51 -0.01034
17-Jul-08 531.6 0.003208 12676.19 -0.04908
18-Jul-08 527.15 -0.00837 12575.8 -0.00792
21-Jul-08 534.85 0.014607 13111.85 0.042626
22-Jul-08 546.1 0.021034 13635.4 0.03993
23-Jul-08 551.9 0.010621 13850.04 0.015741
24-Jul-08 531.75 -0.03651 14104.2 0.018351
25-Jul-08 531.65 -0.00019 14942.28 0.059421
28-Jul-08 533.35 0.003198 14777.01 -0.01106
29-Jul-08 551.05 0.033186 14274.94 -0.03398
30-Jul-08 588.1 0.067235 14349.11 0.005196
31-Jul-08 596.25 0.013858 13791.54 -0.03886
1-Aug-08 586 -0.01719 14287.21 0.03594
4-Aug-08 590.85 0.008276 14355.75 0.004797
5-Aug-08 599.45 0.014555 14656.69 0.020963
6-Aug-08 589.15 -0.01718 14577.87 -0.00538
7-Aug-08 582.55 -0.0112 14961.07 0.026286
8-Aug-08 592.8 0.017595 15073.54 0.007518
11-Aug-08 577.8 -0.0253 15117.25 0.0029
12-Aug-08 562.25 -0.02691 15167.82 0.003345
13-Aug-08 559.75 -0.00445 15503.92 0.022159
14-Aug-08 555.25 -0.00804 15212.13 -0.01882
18-Aug-08 553.25 -0.0036 15093.12 -0.00782
19-Aug-08 544.5 -0.01582 14724.18 -0.02444
20-Aug-08 558.25 0.025253 14645.66 -0.00533
21-Aug-08 567.2 0.016032 14543.73 -0.00696
22-Aug-08 575 0.013752 14678.23 0.009248
25-Aug-08 558.25 -0.02913 14243.73 -0.0296
26-Aug-08 557.3 -0.0017 14401.49 0.011076
27-Aug-08 564.75 0.013368 14450.35 0.003393
28-Aug-08 565.55 0.001417 14482.22 0.002205
29-Aug-08 574.8 0.016356 14296.79 -0.0128
1-Sep-08 572.9 -0.00331 14048.34 -0.01738
2-Sep-08 590.95 0.031506 14564.53 0.036744
4-Sep-08 564.05 -0.04552 14498.51 -0.00453
5-Sep-08 565.7 0.002925 15049.86 0.038028
8-Sep-08 569 0.005833 14899.1 -0.01002
9-Sep-08 550 -0.03339 14483.83 -0.02787
10-Sep-08 525.35 -0.04482 14944.97 0.031838
11-Sep-08 525.95 0.001142 14900.76 -0.00296
12-Sep-08 525.15 -0.00152 14662.61 -0.01598
15-Sep-08 521.75 -0.00647 14324.29 -0.02307
16-Sep-08 494.5 -0.05223 14000.81 -0.02258
17-Sep-08 492.45 -0.00415 13531.27 -0.03354
18-Sep-08 479.9 -0.02548 13518.8 -0.00092
19-Sep-08 489.35 0.019692 13262.9 -0.01893
22-Sep-08 485.35 -0.00817 13315.6 0.003973
23-Sep-08 494.35 0.018543 14042.32 0.054577
24-Sep-08 492.65 -0.00344 13994.96 -0.00337
25-Sep-08 484.35 -0.01685 13570.31 -0.03034
26-Sep-08 480.4 -0.00816 13692.52 0.009006
29-Sep-08 451.3 -0.06057 13547.18 -0.01061
30-Sep-08 430.25 -0.04664 13102.18 -0.03285
1-Oct-08 435.35 0.011854 12595.75 -0.03865
3-Oct-08 404.85 -0.07006 12860.43 0.021013
6-Oct-08 374.2 -0.07571 13055.67 0.015181
7-Oct-08 340.65 -0.08966 12526.32 -0.04055
8-Oct-08 324.85 -0.04638 11801.7 -0.05785
10-Oct-08 305.25 -0.06034 11695.24 -0.00902
13-Oct-08 316.9 0.038165 11328.36 -0.03137
14-Oct-08 307.65 -0.02919 10527.85 -0.07066
15-Oct-08 294.8 -0.04177 11309.09 0.074207
16-Oct-08 299.35 0.015434 11483.4 0.015413
17-Oct-08 281.15 -0.0608 10809.12 -0.05872
20-Oct-08 279.55 -0.00569 10581.49 -0.02106
21-Oct-08 287.3 0.027723 9975.35 -0.05728
22-Oct-08 294.2 0.024017 10223.09 0.024835
23-Oct-08 263.5 -0.10435 10683.39 0.045026
24-Oct-08 240.45 -0.08748 10169.9 -0.04806
27-Oct-08 256 0.06467 9771.7 -0.03915
28-Oct-08 278.85 0.089258 8701.07 -0.10956
29-Oct-08 318.85 0.143446 8509.56 -0.02201
31-Oct-08 320.15 0.004077 9008.08 0.058584
3-Nov-08 319.65 -0.00156 9044.51 0.004044
4-Nov-08 320 0.001095 9788.06 0.08221
5-Nov-08 311.55 -0.02641 10337.68 0.056152
6-Nov-08 295.95 -0.05007 10631.12 0.028385
7-Nov-08 317.35 0.07231 10120.01 -0.04808
10-Nov-08 360.2 0.135024 9734.22 -0.03812
11-Nov-08 362.3 0.00583 9964.29 0.023635
12-Nov-08 380.8 0.051063 10536.16 0.057392
14-Nov-08 359.95 -0.05475 9839.69 -0.0661
17-Nov-08 368.45 0.023614 9536.33 -0.03083
18-Nov-08 345.8 -0.06147 9385.42 -0.01582
19-Nov-08 345.4 -0.00116 9291.01 -0.01006
20-Nov-08 327.5 -0.05182 8937.2 -0.03808
21-Nov-08 338.05 0.032214 8773.78 -0.01829
24-Nov-08 329.4 -0.02559 8451.01 -0.03679
25-Nov-08 326.95 -0.00744 8915.21 0.054928
26-Nov-08 331.2 0.012999 8903.12 -0.00136
28-Nov-08 321.6 -0.02899 8695.53 -0.02332
1-Dec-08 313.1 -0.02643 9026.72 0.038087
2-Dec-08 321 0.025232 9092.72 0.007312
3-Dec-08 324.75 0.011682 8839.87 -0.02781
4-Dec-08 331.35 0.020323 8739.24 -0.01138
5-Dec-08 317.4 -0.0421 8747.43 0.000937
8-Dec-08 314.15 -0.01024 9229.75 0.055138
10-Dec-08 321.25 0.022601 8965.2 -0.02866
11-Dec-08 324.3 0.009494 9162.62 0.022021
12-Dec-08 325.7 0.004317 9654.9 0.053727
15-Dec-08 332.25 0.020111 9645.46 -0.00098
16-Dec-08 340.7 0.025433 9690.07 0.004625
17-Dec-08 331.9 -0.02583 9832.39 0.014687
18-Dec-08 330.5 -0.00422 9976.98 0.014705
19-Dec-08 335.85 0.016188 9715.29 -0.02623
22-Dec-08 344.45 0.025607 10076.43 0.037172
23-Dec-08 339.7 -0.01379 10099.91 0.00233
24-Dec-08 337.35 -0.00692 9928.35 -0.01699
26-Dec-08 328.3 -0.02683 9686.75 -0.02433
29-Dec-08 342.1 0.042035 9568.72 -0.01218
30-Dec-08 339.55 -0.00745 9328.92 -0.02506
31-Dec-08 338.2 -0.00398 9533.52 0.021932
1-Jan-09 359.5 0.06298 9716.16 0.019158
2-Jan-09 357.2 -0.0064 9647.31 -0.00709
5-Jan-09 384.25 0.075728 9958.22 0.032228
6-Jan-09 420.75 0.09499 10275.6 0.031871
7-Jan-09 422.1 0.003209 10335.93 0.005871
9-Jan-09 384.15 -0.08991 9586.88 -0.07247
12-Jan-09 365.75 -0.0479 9406.47 -0.01882
13-Jan-09 333.8 -0.08735 9110.05 -0.03151
14-Jan-09 360.35 0.079539 9071.36 -0.00425
15-Jan-09 359.05 -0.00361 9370.49 0.032975
16-Jan-09 348.65 -0.02897 9046.74 -0.03455
19-Jan-09 360.2 0.033128 9323.59 0.030602
20-Jan-09 348.75 -0.03179 9329.57 0.000641
21-Jan-09 332.2 -0.04746 9100.55 -0.02455
22-Jan-09 327.1 -0.01535 8779.17 -0.03531
23-Jan-09 322.3 -0.01467 8813.84 0.003949
27-Jan-09 350.05 0.0861 8674.35 -0.01583
28-Jan-09 347.5 -0.00728 9004.08 0.038012
29-Jan-09 342.15 -0.0154 9257.47 0.028142
30-Jan-09 347.5 0.015636 9236.28 -0.00229
2-Feb-09 334.15 -0.03842 9424.24 0.02035
3-Feb-09 326.85 -0.02185 9066.7 -0.03794
4-Feb-09 328.75 0.005813 9149.3 0.00911
5-Feb-09 336.8 0.024487 9201.85 0.005744
6-Feb-09 329.95 -0.02034 9090.88 -0.01206
9-Feb-09 346.55 0.050311 9300.86 0.023098
10-Feb-09 340.75 -0.01674 9583.89 0.030431
11-Feb-09 338.5 -0.0066 9647.47 0.006634
12-Feb-09 335.7 -0.00827 9618.54 -0.003
13-Feb-09 332.95 -0.00819 9465.83 -0.01588
16-Feb-09 332.7 -0.00075 9634.74 0.017844
17-Feb-09 332.4 -0.0009 9305.45 -0.03418
18-Feb-09 322.1 -0.03099 9035 -0.02906
19-Feb-09 323.4 0.004036 9015.18 -0.00219
20-Feb-09 320.8 -0.00804 9042.63 0.003045
24-Feb-09 320.1 -0.00218 8843.21 -0.02205
25-Feb-09 321.3 0.003749 8822.06 -0.00239
26-Feb-09 320 -0.00405 8902.56 0.009125
27-Feb-09 322.35 0.007344 8954.86 0.005875
2-Mar-09 334.05 0.036296 8891.61 -0.00706
3-Mar-09 338.6 0.013621 8607.08 -0.032
4-Mar-09 337.65 -0.00281 8427.29 -0.02089
5-Mar-09 345.8 0.024137 8446.49 0.002278
6-Mar-09 354.7 0.025737 8197.92 -0.02943
9-Mar-09 355.6 0.002537 8325.82 0.015602
12-Mar-09 348.8 -0.01912 8160.4 -0.01987
13-Mar-09 370.5 0.062213 8343.75 0.022468
16-Mar-09 371.8 0.003509 8756.61 0.049481
17-Mar-09 374.3 0.006724 8943.54 0.021347
18-Mar-09 395.85 0.057574 8863.82 -0.00891
19-Mar-09 406.35 0.026525 8976.68 0.012733
20-Mar-09 415.05 0.02141 9001.75 0.002793
23-Mar-09 432 0.040838 8966.68 -0.0039
24-Mar-09 422.25 -0.02257 9424.02 0.051004
25-Mar-09 415.5 -0.01599 9471.04 0.004989
26-Mar-09 437.1 0.051986 9667.9 0.020785
27-Mar-09 451.45 0.03283 10003.1 0.034671
30-Mar-09 428.75 -0.05028 10048.49 0.004538
31-Mar-09 451.15 0.052245 9708.5 -0.03383
CAPM -APPROACH
RISK-FREE RATE 7.40%
MARKET RETURN 15%
BETA 0.123231794
REUIRED RATE OF RETURN 0.083365616
SUMMARY OUTPUT
Regression Statistics
Multiple R 0.083486848
R Square 0.006970054
Adjusted R Square 0.004947589
Standard Error 0.03515655
Observations 493
ANOVA
df SS MS F Significance F
Regression 1 0.00425959 0.00426 3.446317 0.063992
Residual 491 0.606867642 0.001236
Total 492 0.611127232
Coefficients Standard Error t Stat P-value Lower 95%
Intercept 0.000178057 0.001583519 0.112444 0.910517 -0.00293
X Variable 1 0.123231794 0.066381205 1.856426 0.063992 -0.00719
TREASURY BILL AS ON 31st ,
MARCH 2009
Market return being negative due
to last year receesion period,so it
has been assumed to be 15%
Significance F
Upper 95%Lower 95.0%Upper 95.0%
0.003289 -0.00293 0.003289
0.253658 -0.00719 0.253658
BILL AS ON 31st ,
MARCH 2009
return being negative due
to last year receesion period,so it
has been assumed to be 15%
BALANCE SHEET
PARTICULARS Mar ' 05 Mar ' 06 Mar ' 07 Mar ' 08 Mar ' 09
Sources of funds
Owner's fund
Equity share capital 422.53 422.53 422.53 422.53 422.53
Share application money - - - - -
Preference share capital - - - - -
Reserves & surplus 1,655.21 3,007.25 7,204.53 11,425.66 13,935.05
Loan funds
Secured loans 570.93 - - - 8.3
Unsecured loans 0.39 558.02 0.39 0.39 0.39
Total 2,649.07 3,987.80 7,627.45 11,848.58 14,366.27
Uses of funds
Fixed assets
Gross block 2,398.81 2,989.96 3,499.79 5,121.92 5,855.51
Less : revaluation reserve - - - - -
Less : accumulated depreciation 1,010.93 1,129.66 1,264.19 1,484.64 1,750.59
Net block 1,387.88 1,860.30 2,235.60 3,637.28 4,104.92
Capital work-in-progress 456.26 57.8 634.99 525.34 1,108.39
Investments 687.88 1,604.88 4,403.30 6,332.45 6,928.87
Net current assets
Current assets, loans & advances 773.06 1,323.92 1,486.31 2,714.87 3,796.42
Less : current liabilities & provisions 656.01 859.1 1,132.75 1,361.36 1,572.33
Total net current assets 117.05 464.82 353.56 1,353.51 2,224.09
Miscellaneous expenses not written - - - - -
Total 2,649.07 3,987.80 7,627.45 11,848.58 14,366.27
Notes:
Book value of unquoted investments 687.88 1,604.88 4,403.30 6,332.45 6,928.87
Market value of quoted investments - - - - -
Contingent liabilities 197.78 492.84 1,554.81 1,449.49 1,936.69
Number of equity sharesoutstanding (CRORE) 42.2532 42.2532 42.2532 42.2532 42.2532
PROFIT & LOSS A/C
Mar ' 05 Mar ' 06 Mar ' 07 Mar ' 08 Mar ' 09
Income
Operating income/Net sales 2,189.67 3,864.44 8,547.42 7,895.47 5,688.51
Expenses
Material consumed 309.82 324.29 271.82 533.82 652.58
Manufacturing expenses 683.94 852.28 1,317.34 1,317.11 1,588.80
Personnel expenses 187.86 205.59 250.1 308.19 379
Selling expenses 55.73 93.7 163.87 191.82 176.02
Adminstrative expenses 71.78 86.43 121.79 162.1 178.89
Expenses capitalised -5.38 - -2.16 -15.55 -20.94
Cost of sales 1,303.75 1,562.29 2,122.76 2,497.49 2,954.35
Operating profit 885.92 2,302.15 6,424.66 5,397.98 2,734.16
Other recurring income 99.29 79 113.95 531.65 832.03
Adjusted PBDIT 985.21 2,381.15 6,538.61 5,929.63 3,566.19
Financial expenses 1.8 47.4 28.44 23.05 21.88
Depreciation 86.37 138.27 156.08 220.51 285.27
Other write offs 2.65 2.41 0.51 1.53 -
Adjusted PBT 894.4 2,193.07 6,353.58 5,684.54 3,259.04
Tax charges 271.59 757.09 2,036.53 1,668.96 663.05
Adjusted PAT 622.81 1,435.98 4,317.05 4,015.58 2,595.99
Non recurring items -10.35 19.12 91.82 152.68 91.05
Other non cash adjustments 42.87 17.38 32.94 227.81 40.57
Reported net profit 655.33 1,472.48 4,441.81 4,396.07 2,727.61
Earnigs before appropriation 755.16 1,593.17 4,564.53 5,366.57 7,347.02
Equity dividend 73.94 105.63 211.26 211.26 169.01
Preference dividend - - - - -
Dividend tax 10.52 14.82 32.77 35.9 28.73
Retained earnings 670.69 1,472.72 4,320.50 5,119.41 7,149.28
CASH FLOW STATEMENT
Mar ' 05 Mar ' 06 Mar ' 07 Mar ' 08 Mar ' 09
Profit before tax 926.92 2,229.57 6,453.66 5,985.34 3,358.24
Net cashflow-operating activity 770.49 1,265.24 4,604.58 4,208.00 2,712.67
Net cash used in investing activity -1,045.46 -1,068.03 -3,729.92 -2,693.61 -3,419.14
Netcash used in fin. activity -107.54 -145.29 -828.99 -271.31 -137.16
Net inc/dec in cash and equivlnt -382.51 51.92 45.67 1,243.08 -843.63
Cash and equivalnt begin of year 404.61 22.11 74.03 119.7 862.78
Cash and equivalnt end of year 22.11 74.03 119.7 1,362.78 2719.15

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