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CP Final
CP Final
COMPREHENSIVE PROJECT
ON
A Comparative Study on the Financial Performance of Cement Industry
Submitted to
Anand Institute of Management
IN PARTIAL FULFILLMENT OF THE
REQUIREMENT OF THE AWARD FOR THE DEGREE OF
MASTER OF BUSINESS ASMINISTRATION
In
Gujarat Technological University
UNDER THE GUIDANCE OF
Faculty Guide
Krishna Gor
Assistant Prof.
Submitted by
Jaynand Patalia
Rupesh Vasava
Enrollment No.:107020592058
Enrollment No.:107020592056
CERTIFICATE
TABLE OF CONTENTS
PREFACE
ACKNOWLEDGEMENT
DECLARATION
EXECUTIVE SUMMARY
SR. NO.
PARTICULAR
PAGE NO.
2.
PRODUCT PROFILE
3.
DEMAND DETERMINATION
4.
12
5.
DISTRIBUTION CHANNELS
14
6.
15
7.
LITERATURE REVIEW
18
8.
19
9.
21
10.
23
`5
9
24
12.
PRODUCT PROFILE
33
13.
FINANCIAL ANALYSIS
34
14.
44
15.
45
16.
47
17.
61
ANNEXTURES
BBILIOGRAPHY
PREFACE
Experience is the best teacher. This saying plays a guiding line in our lives and
also in project reports that are an integral part of the MBA programmed in Gujarat
technological University.
Todays age is an age of management. Management is the backbone of any
organization or any activity done. The real success of management lies in applying
the professional management techniques an all managerial activities.
Hence, to attain this objective and to have the outlook of performance of the cement
industry and to analyze the emerging trends of the same in Indian Economy we have
undertaken the Comprehensive Project on A Comparative Analysis of the
Financial Performance of the Cement Industry.
ACKNOWLEDGEMENT
DECLARATION
We, JAYNAND PATALIA AND RUPESH VASAVA, hereby declare that the
Report for Comprehensive Project entitled
A COMPARATIVE ANALYSIS OF FINANCIAL PERFORMANCE OF CEMENT
INDUSTRY WITH SPECIAL REFRENCE
Is a result of our own work and our indebtedness to other work publications
References, if any, have been duly acknowledged.
Place:
Date:
JAYNAND PATALIA
RUPESH VASAVA
EXECUTIVE SUMMARY
The companies have been chosen based on market share, production capacity and
net profits for the previous years. Both the companies are the leading producer in the
cement industry in India.
The cement industry is the leading industry in India which is having a very high
growth rate. Cement Industry of India is the worlds second largest producer of
cement products after China. Thus, Indian cement industries in India have a very
high growth rate and it contributes very high percentage to the GDP of Indian
Economy.
LIST OF TABLES
Sr. No.
PARTICULARS
TABLE NO.
PAGE NO.
1.
GROWTH OF CEMENT
DEMAND
2.
DEMAND DETERMINATION
10
3.
12
4.
13
RATIOS ANALYSIS
5.
34
6.
35
7.
35
8.
CURRENT RATIO
36
9.
QUICK RATIO
36
10.
10
37
11.
11
38
12.
12
38
13.
13
39
DUPONT ANALYSIS
14.
AMBUJA CEMENT
14
40
15.
BINANI CEMENT
15
42
COMPARATIVE ANALYSIS
16.
16
47
17.
RETURN ON EQUITY
17
48
18.
18
49
19.
19
50
20.
20
51
21.
RATIO ANALYSIS
21 52,53,54,55,56,
57,58,59,60
LIST OF GRAPHS
Sr. No.
PARTICULARS
GRAPH NO.
PAGE NO.
1.
PROCESS WISE
2.
DEMAND DETERMINATION
10
3.
CAPCITY DISTRIBUTION
11
4.
12
5.
13
COMPARATIVE ANALYSIS
6.
47
7.
RETURN ON EQUITY
48
8.
49
9.
50
10.
10
51
11.
11
52
12.
12
53
13
13
54
14.
CURRENT RATIO
14
55
15.
QUICK RATIO
15
56
16.
16
57
17.
17
58
18.
18
59
19.
19
60
DIAGRAM NO.
PAGE NO.
LIST OF DIAGRAMS
Sr. No.
1.
PARTICULARS
CEMENT MANUFACTURING
PROCESS
2.
23
3.
DUPONT ANALYSIS(AMBUJA
CEMENT)
41
4.
DUPONT ANALYSIS(BINANI
CEMENT)
43
ANNEXTURES
Sources Of Funds
Total Share Capital
Equity Share Capital
Share Application Money
Preference Share Capital
Reserves
Revaluation Reserves
Networth
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities
Application Of Funds
Gross Block
Less: Accum. Depreciation
Net Block
Capital Work in Progress
Investments
Inventories
Sundry Debtors
Cash and Bank Balance
Total Current Assets
Loans and Advances
Fixed Deposits
Total CA, Loans & Advances
Deffered Credit
Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets
Miscellaneous Expenses
Total Assets
Contingent Liabilities
Book Value (Rs)
Dec '11
Dec '10
Dec '09
Dec '08
Dec '07
12 mths
12 mths
12 mths
12 mths
12 mths
306.87
306.87
32.12
0.00
7,730.45
0.00
8,069.44
0.00
49.36
49.36
8,118.80
Dec '11
305.97
305.97
1.34
0.00
7,022.79
0.00
7,330.10
0.00
65.03
65.03
7,395.13
Dec '10
304.74
304.74
0.24
0.00
6,165.92
0.00
6,470.90
100.00
65.70
165.70
6,636.60
Dec '09
304.52
304.52
0.34
0.00
5,368.01
0.00
5,672.87
100.00
188.67
288.67
5,961.54
Dec '08
304.48
304.48
0.00
0.00
4,356.77
0.00
4,661.25
100.00
230.42
330.42
4,991.67
Dec '07
12 mths
12 mths
12 mths
12 mths
12 mths
9,702.29
3,515.83
6,186.46
577.28
864.31
924.97
240.85
175.43
1,341.25
674.03
1,895.80
3,911.08
0.00
2,314.49
1,106.11
3,420.60
490.48
0.27
8,118.80
8,778.82
3,151.07
5,627.75
930.70
625.95
901.86
128.18
198.40
1,228.44
422.61
1,549.77
3,200.82
0.00
1,893.98
1,096.57
2,990.55
210.27
0.46
7,395.13
6,224.13
2,784.09
3,440.04
2,714.43
727.01
683.24
152.20
116.64
952.08
292.65
764.04
2,008.77
0.00
1,582.32
674.04
2,256.36
-247.59
2.71
6,636.60
5,706.94
2,514.19
3,192.75
1,947.22
332.39
939.75
224.60
123.73
1,288.08
351.82
728.11
2,368.01
0.00
1,412.55
470.56
1,883.11
484.90
4.28
5,961.54
5,231.05
2,271.19
2,959.86
696.79
1,288.94
581.60
145.68
114.94
842.22
237.04
535.85
1,615.11
0.00
1,081.70
493.55
1,575.25
39.86
6.22
4,991.67
749.28
52.38
754.38
47.90
647.12
42.47
1,224.42
37.26
1,193.08
30.62
Jun '05
Jun '04
Jun '03
Jun '02
Sources Of Funds
Total Share Capital
Equity Share Capital
Share Application Money
Preference Share Capital
Reserves
Revaluation Reserves
Networth
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities
Application Of Funds
Gross Block
Less: Accum. Depreciation
Net Block
Capital Work in Progress
Investments
Inventories
Sundry Debtors
Cash and Bank Balance
Total Current Assets
Loans and Advances
Fixed Deposits
Total CA, Loans & Advances
Deffered Credit
Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets
Miscellaneous Expenses
Total Assets
Contingent Liabilities
Book Value (Rs)
18 mths
12 mths
12 mths
12 mths
12 mths
303.37
303.37
1.14
0.00
3,187.21
0.00
3,491.72
317.77
547.61
865.38
4,357.10
Dec '06
270.38
270.38
0.03
0.00
1,908.01
0.00
2,178.42
549.33
578.12
1,127.45
3,305.87
Jun '05
179.40
179.40
0.07
0.00
1,842.29
0.00
2,021.76
649.78
619.90
1,269.68
3,291.44
Jun '04
155.30
155.30
0.09
0.00
1,461.25
0.00
1,616.64
845.00
906.28
1,751.28
3,367.92
Jun '03
155.17
155.17
18.16
0.00
1,449.32
0.00
1,622.65
1,191.15
592.00
1,783.15
3,405.80
Jun '02
18 mths
12 mths
12 mths
12 mths
12 mths
4,542.50
2,053.32
2,489.18
634.93
1,133.12
408.82
89.95
172.36
671.13
313.03
205.74
1,189.90
0.00
929.06
168.68
1,097.74
92.16
7.71
4,357.10
3,709.17
1,463.93
2,245.24
118.10
1,125.06
317.00
45.84
86.27
449.11
145.10
0.26
594.47
0.00
676.70
106.77
783.47
-189.00
6.47
3,305.87
3,658.07
1,284.14
2,373.93
124.29
1,010.97
254.28
42.71
68.52
365.51
171.84
0.31
537.66
0.00
692.96
71.34
764.30
-226.64
8.89
3,291.44
2,957.93
1,012.04
1,945.89
66.06
1,101.71
224.20
45.94
30.61
300.75
522.86
0.27
823.88
0.00
499.85
74.31
574.16
249.72
4.54
3,367.92
2,855.43
847.81
2,007.62
44.64
1,132.05
208.37
39.01
50.47
297.85
364.38
0.26
662.49
0.00
410.98
34.30
445.28
217.21
4.28
3,405.80
506.71
23.01
332.70
16.11
194.57
112.69
190.41
104.08
270.47
103.39
Income
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Selling and Admin Expenses
Miscellaneous Expenses
Preoperative Exp Capitalised
Total Expenses
Operating Profit
PBDIT
Interest
PBDT
Depreciation
Other Written Off
Profit Before Tax
Extra-ordinary items
PBT (Post Extra-ord Items)
Tax
Reported Net Profit
Total Value Addition
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data (annualised)
Shares in issue (lakhs)
Earning Per Share (Rs)
Equity Dividend (%)
Book Value (Rs)
Dec '11
Dec '10
Dec '09
Dec '08
Dec '07
12 mths
12 mths
12 mths
12 mths
12 mths
9,601.42
1,128.28
8,473.14
234.38
-57.00
8,650.52
8,286.20
914.68
7,371.52
214.58
54.28
7,640.38
7,763.93
680.72
7,083.21
180.41
-49.44
7,214.18
7,089.89
907.80
6,182.09
468.18
62.62
6,712.89
6,469.68
798.29
5,671.39
965.04
58.79
6,695.22
1,652.18
2,006.34
425.46
254.06
1,865.09
256.20
-6.74
6,452.59
Dec '11
1,475.20
1,697.34
344.91
227.03
1,633.14
199.42
-11.36
5,565.68
Dec '10
1,642.09
1,422.75
274.29
161.66
1,426.15
202.19
-19.33
5,109.80
Dec '09
1,251.08
1,325.69
266.94
145.61
1,276.80
215.64
-21.19
4,460.57
Dec '08
953.32
1,004.20
209.46
124.50
1,254.41
140.63
-9.47
3,677.05
Dec '07
12 mths
12 mths
12 mths
12 mths
12 mths
1,963.55
2,197.93
52.63
2,145.30
445.15
0.19
1,699.96
92.08
1,792.04
541.46
1,228.86
4,800.41
0.00
490.69
79.60
1,860.12
2,074.70
48.69
2,026.01
387.19
0.61
1,638.21
64.22
1,702.43
435.55
1,263.61
4,090.48
0.00
397.22
65.27
1,923.97
2,104.38
22.43
2,081.95
296.99
1.57
1,783.39
26.52
1,809.91
585.14
1,218.37
3,467.71
0.00
365.59
62.13
1,784.14
2,252.32
32.06
2,220.26
259.76
1.72
1,958.78
11.28
1,970.06
567.79
1,402.27
3,209.49
0.00
334.97
56.92
2,053.13
3,018.17
75.85
2,942.32
236.34
0.47
2,705.51
-194.92
2,510.59
741.49
1,769.10
2,723.73
0.00
532.65
90.52
15,343.69
8.01
160.00
52.38
15,298.59
8.26
130.00
47.90
15,237.11
8.00
120.00
42.47
15,225.99
9.21
110.00
37.26
15,223.75
11.62
175.00
30.62
Ambuja Cements
Income
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Selling and Admin Expenses
Miscellaneous Expenses
Preoperative Exp Capitalised
Total Expenses
Operating Profit
PBDIT
Interest
PBDT
Depreciation
Other Written Off
Profit Before Tax
Extra-ordinary items
PBT (Post Extra-ord Items)
Tax
Reported Net Profit
Total Value Addition
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data (annualised)
Shares in issue (lakhs)
Earning Per Share (Rs)
Equity Dividend (%)
Book Value (Rs)
Dec '06
Jun '05
Jun '04
Jun '03
Jun '02
18 mths
12 mths
12 mths
12 mths
12 mths
7,022.59
796.31
6,226.28
111.07
-10.92
6,326.43
3,025.84
428.79
2,597.05
70.51
6.97
2,674.53
2,305.18
343.05
1,962.13
71.84
11.27
2,045.24
2,025.10
290.58
1,734.52
68.48
4.39
1,807.39
1,582.63
198.85
1,383.78
32.74
-12.79
1,403.73
1,007.07
1,239.87
235.98
185.59
1,273.55
122.96
-10.82
4,054.20
Dec '06
435.52
678.40
106.44
92.97
502.01
61.77
-3.43
1,873.68
Jun '05
337.45
463.63
88.68
71.68
408.14
55.95
0.00
1,425.53
Jun '04
307.97
430.60
68.86
60.92
335.16
56.60
0.00
1,260.11
Jun '03
228.98
323.99
49.87
42.87
218.53
52.90
0.00
917.14
Jun '02
18 mths
12 mths
12 mths
12 mths
12 mths
2,161.16
2,272.23
113.23
2,159.00
326.12
1.07
1,831.81
10.17
1,841.98
338.73
1,503.25
3,047.13
0.00
461.24
64.69
730.34
800.85
91.77
709.08
195.41
0.94
512.73
6.08
518.81
50.52
468.29
1,438.16
0.00
189.16
26.54
547.87
619.71
114.22
505.49
168.61
0.70
336.18
47.59
383.77
46.98
336.79
1,088.08
0.00
142.07
18.34
478.80
547.28
126.62
420.66
171.64
1.00
248.02
5.81
253.83
31.74
221.73
952.14
0.00
108.71
13.93
453.85
486.59
117.67
368.92
137.82
0.76
230.34
-6.32
224.02
45.12
186.15
688.15
0.00
93.11
0.00
15,168.29
9.91
165.00
23.01
13,518.83
3.46
90.00
16.11
1,794.00
18.77
80.00
112.69
1,553.18
14.28
70.00
104.08
1,551.90
11.99
60.00
103.39
Sources Of Funds
Total Share Capital
Equity Share Capital
Share Application Money
Preference Share Capital
Reserves
Revaluation Reserves
Net worth
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities
Application Of Funds
Gross Block
Less: Accum. Depreciation
Net Block
Capital Work in Progress
Investments
Inventories
Sundry Debtors
Cash and Bank Balance
Total Current Assets
Loans and Advances
Fixed Deposits
Total CA, Loans & Advances
Deffered Credit
Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets
Miscellaneous Expenses
Total Assets
Contingent Liabilities
Book Value (Rs)
Mar '10
Mar '09
Mar '08
Mar '07
12 mths
12 mths
12 mths
12 mths
12 mths
188.60
188.60
0.00
0.00
390.42
0.00
579.02
1,025.44
210.14
1,235.58
1,814.60
Mar '11
203.10
203.10
0.00
0.00
472.05
0.00
675.15
922.96
60.14
983.10
1,658.25
Mar '10
203.10
203.10
0.00
0.00
273.30
0.00
476.40
740.20
38.14
778.34
1,254.74
Mar '09
203.10
203.10
0.00
0.00
214.54
0.00
417.64
732.33
38.14
770.47
1,188.11
Mar '08
203.10
203.10
0.00
0.00
98.12
0.00
301.22
658.77
32.23
691.00
992.22
Mar '07
12 mths
12 mths
12 mths
12 mths
12 mths
1,897.03
641.25
1,255.78
122.21
546.12
161.84
0.00
137.28
299.12
291.46
93.19
683.77
0.00
736.62
56.67
793.29
-109.52
0.00
1,814.59
1,800.51
552.82
1,247.69
100.01
374.57
169.98
0.00
165.49
335.47
262.09
143.95
741.51
0.00
673.96
131.56
805.52
-64.01
0.00
1,658.26
1,588.68
471.19
1,117.49
202.30
211.30
212.54
0.00
70.94
283.48
184.79
16.27
484.54
0.00
691.10
69.80
760.90
-276.36
0.00
1,254.73
1,445.39
397.11
1,048.28
171.47
46.77
217.44
0.01
43.28
260.73
188.72
52.65
502.10
0.00
498.21
82.32
580.53
-78.43
0.00
1,188.09
839.99
347.03
492.96
517.37
0.00
57.25
0.24
27.53
85.02
179.43
20.17
284.62
0.00
241.37
61.35
302.72
-18.10
0.00
992.23
462.92
30.70
420.75
33.24
127.10
23.46
392.38
20.56
156.98
14.83
Mar '05
Mar '04
Mar '03
Mar '02
12 mths
12 mths
12 mths
12 mths
12 mths
203.10
203.10
0.00
0.00
50.04
0.00
253.14
534.36
0.00
534.36
787.50
Mar '06
217.07
217.07
0.00
0.00
17.74
0.00
234.81
487.86
9.90
497.76
732.57
Mar '05
217.07
217.07
0.00
0.00
3.79
0.00
220.86
413.56
1.65
415.21
636.07
Mar '04
217.07
217.07
0.00
0.00
0.33
0.00
217.40
407.79
0.00
407.79
625.19
Mar '03
422.91
422.91
0.00
0.00
-138.74
0.00
284.17
367.90
0.00
367.90
652.07
Mar '02
12 mths
12 mths
12 mths
12 mths
12 mths
Application Of Funds
Gross Block
Less: Accum. Depreciation
Net Block
Capital Work in Progress
Investments
Inventories
Sundry Debtors
Cash and Bank Balance
Total Current Assets
Loans and Advances
Fixed Deposits
Total CA, Loans & Advances
Deffered Credit
Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets
Miscellaneous Expenses
Total Assets
803.95
308.07
495.88
100.02
0.00
33.55
0.23
15.66
49.44
153.54
87.10
290.08
0.00
78.64
19.83
98.47
191.61
0.00
787.51
791.95
266.99
524.96
5.16
23.09
33.60
0.43
8.81
42.84
222.25
0.00
265.09
0.00
83.48
2.24
85.72
179.37
0.00
732.58
767.89
228.68
539.21
5.06
23.25
39.59
0.78
8.82
49.19
86.18
0.00
135.37
0.00
66.82
0.00
66.82
68.55
0.00
636.07
745.56
189.70
555.86
2.58
23.25
40.03
0.79
14.64
55.46
57.17
0.00
112.63
0.00
69.12
0.00
69.12
43.51
0.00
625.20
732.24
150.49
581.75
1.57
23.16
39.86
2.01
16.49
58.36
70.88
0.00
129.24
0.00
83.65
0.00
83.65
45.59
0.00
652.07
Contingent Liabilities
Book Value (Rs)
427.12
12.46
3.20
10.82
0.00
10.17
0.00
10.02
0.00
6.72
Sources Of Funds
Total Share Capital
Equity Share Capital
Share Application Money
Preference Share Capital
Reserves
Revaluation Reserves
Networth
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities
Income
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Selling and Admin Expenses
Miscellaneous Expenses
Preoperative Exp Capitalised
Total Expenses
Operating Profit
PBDIT
Interest
PBDT
Depreciation
Other Written Off
Profit Before Tax
Extra-ordinary items
PBT (Post Extra-ord Items)
Tax
Reported Net Profit
Total Value Addition
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data (annualised)
Shares in issue (lakhs)
Earnings Per Share (Rs)
Equity Dividend (%)
Book Value (Rs)
Mar '10
Mar '09
Mar '08
Mar '07
12 mths
12 mths
12 mths
12 mths
12 mths
1,983.67
255.17
1,728.50
13.73
-13.70
1,728.53
2,069.10
211.22
1,857.88
12.93
-48.87
1,821.94
1,716.78
220.24
1,496.54
-14.39
23.25
1,505.40
1,149.98
186.94
963.04
6.17
56.24
1,025.45
783.59
105.15
678.44
-1.31
6.53
683.66
265.37
512.96
41.27
76.05
496.85
50.83
0.00
1,443.33
Mar '11
252.35
429.85
34.35
67.57
403.40
36.43
0.00
1,223.95
Mar '10
200.14
535.99
29.39
52.79
354.47
22.91
0.00
1,195.69
Mar '09
129.89
235.56
25.50
32.39
236.39
13.21
0.00
672.94
Mar '08
91.74
142.03
18.78
21.29
165.10
7.99
0.00
446.93
Mar '07
12 mths
12 mths
12 mths
12 mths
12 mths
271.47
285.20
103.44
181.76
99.50
0.00
82.26
11.73
93.99
3.22
90.51
1,177.95
0.00
47.15
7.65
585.06
597.99
78.51
519.48
91.66
0.00
427.82
-12.84
414.98
126.86
281.92
971.60
0.00
71.09
12.08
324.10
309.71
71.52
238.19
80.31
0.00
157.88
0.00
157.88
45.89
108.67
995.56
0.00
42.65
7.25
346.34
352.51
46.47
306.04
55.67
0.00
250.37
0.00
250.37
69.02
175.82
543.04
0.00
50.78
8.63
238.04
236.73
32.62
204.11
43.46
0.00
160.65
0.00
160.65
60.96
95.61
355.19
40.62
0.00
6.90
1,886.01
4.80
25.00
30.70
2,031.01
13.88
35.00
33.24
2,031.01
5.35
21.00
23.46
2,031.01
8.66
25.00
20.56
2,031.01
2.71
0.00
14.83
Income
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Selling and Admin Expenses
Miscellaneous Expenses
Preoperative Exp Capitalised
Total Expenses
Operating Profit
PBDIT
Interest
PBDT
Depreciation
Other Written Off
Profit Before Tax
Extra-ordinary items
PBT (Post Extra-ord Items)
Tax
Reported Net Profit
Total Value Addition
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data (annualised)
Shares in issue (lakhs)
Earning Per Share (Rs)
Equity Dividend (%)
Book Value (Rs)
Mar '05
Mar '04
Mar '03
Mar '02
12 mths
12 mths
12 mths
12 mths
12 mths
584.65
94.37
490.28
0.85
-3.60
487.53
529.74
90.94
438.80
-4.38
-6.37
428.05
462.68
87.69
374.99
4.12
0.00
379.11
441.08
74.81
366.27
3.06
0.00
369.33
433.60
67.34
366.26
2.84
0.00
369.10
72.20
137.49
15.09
20.97
94.65
8.65
0.00
349.05
Mar '06
64.39
127.89
13.56
19.02
86.60
9.78
0.00
321.24
Mar '05
46.84
0.00
13.19
119.30
0.00
98.00
0.00
277.33
Mar '04
45.20
0.00
12.24
119.49
0.00
94.44
0.00
271.37
Mar '03
35.43
0.00
10.93
116.51
0.00
98.91
0.00
261.78
Mar '02
12 mths
12 mths
12 mths
12 mths
12 mths
137.63
138.48
34.17
104.31
42.91
0.00
61.40
0.00
61.40
5.12
52.96
276.84
10.06
0.00
1.41
111.19
106.81
52.35
54.46
42.00
0.00
12.46
0.00
12.46
0.55
6.45
256.85
0.00
0.00
0.00
97.66
101.78
56.02
45.76
41.28
0.00
4.48
-0.67
3.81
0.34
4.13
230.49
0.00
0.00
0.00
94.90
97.96
56.34
41.62
40.59
0.00
1.03
-0.80
0.23
0.00
1.03
226.17
0.00
0.00
0.00
104.48
107.32
61.73
45.59
39.48
0.00
6.11
-1.03
5.08
0.00
6.13
226.35
0.00
0.00
0.00
2,031.01
2.11
0.00
12.46
2,170.68
0.30
0.00
10.82
2,170.70
0.19
0.00
10.17
2,170.70
0.05
0.00
10.02
4,229.10
0.14
0.00
6.72
BIBLIOGRAPHY
Books
I. M. Pandey, Financial Management, Vikas Publishing Pvt, Ltd, and
(9th Edition).
Websites
http://dipp.nic.in/English/Performance_Cement_Industry
http://www.slideshare.net/shonethattil/indian-cement-industryreport
http://newsletters.cii.in/newsletters/mailer/trade_talk/pdf/Cement%
20Industry%20in%20India-%20Trade%20Perspectives
http://www.nseindia.com/content/ncfm/EDBM_workbook.pdf
www.ambujacement.com
http://www.binaniindustries.com/group-companies/binaniindustries/profile.asp
http://www.scribd.com/doc/19102170/A-case-study-on-AmbujaCement
Other Materials