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1.Tata Consultancy Services Ltd.

- Research Center
Profit loss account

(Rs crore)
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

38,858.54

29,275.41

23,044.45

22,401.92

18,533.72

12.07

18.62

25.13

51.94

45.85

Manufacturing expenses

10,867.93

8,375.57

6,630.61

7,111.94

5,823.39

Personnel expenses

14,100.41

10,190.31

7,882.43

7,370.09

6,015.19

20.08

15.73

7.27

21.35

27.63

2,472.33

1,903.36

1,831.84

1,825.77

1,596.05

Cost of sales

27,472.82

20,503.59

16,377.28

16,381.09

13,508.11

Operating profit

11,385.72

8,771.82

6,667.17

6,020.83

5,025.61

3,105.19

475.42

236.27

232.62

165.01

14,490.91

9,247.24

6,903.44

6,253.45

5,190.62

16.40

20.01

9.54

7.44

3.42

688.17

537.82

469.35

417.46

458.78

13,786.34

8,689.41

6,424.55

5,828.55

4,728.42

2,260.86

1,130.44

737.89

340.37

457.58

11,525.48

7,558.97

5,686.66

5,488.18

4,270.84

Non recurring items

-420.01

11.02

-54.17

-688.86

275.44

Other non cash adjustments

-129.49

-13.98

-103.11

-37.52

Reported net profit

10,975.98

7,569.99

5,618.51

4,696.21

4,508.76

Earnigs before appropriation

25,045.18

18,028.12

15,608.92

12,071.10

9,428.75

4,893.04

2,740.10

3,914.43

1,370.05

1,370.05

22.00

11.00

17.00

7.00

0.08

797.34

450.82

657.51

234.02

232.85

19,332.80

14,826.20

11,019.98

10,460.03

7,825.77

Income
Operating income

Expenses
Material consumed

Selling expenses
Adminstrative expenses
Expenses capitalised

Other recurring income


Adjusted PBDIT
Financial expenses
Depreciation
Other write offs
Adjusted PBT
Tax charges
Adjusted PAT

Equity dividend
Preference dividend
Dividend tax
Retained earnings

Balance sheet

(Rs crore)
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

195.72

195.72

195.72

97.86

97.86

100.00

100.00

100.00

100.00

100.00

24,560.91

19,283.77

14,820.90

13,248.39

10,806.95

93.47

35.87

29.25

32.63

9.27

2.76

5.25

6.49

7.74

8.98

24,952.86

19,620.61

15,152.36

13,486.62

11,023.06

7,282.02

6,030.16

4,871.21

4,359.24

3,240.64

Less : accumulated depreciation

3,218.40

2,607.98

2,110.69

1,690.16

1,300.11

Net block

4,063.62

3,422.18

2,760.52

2,669.08

1,940.53

Capital work-in-progress

1,726.88

1,345.37

940.72

685.13

889.74

Investments

5,688.39

5,795.49

7,893.39

5,936.03

4,509.33

22,779.92

15,480.07

10,837.08

9,250.79

7,396.46

9,305.95

6,422.50

7,279.35

5,054.41

3,713.00

13,473.97

9,057.57

3,557.73

4,196.38

3,683.46

24,952.86

19,620.61

15,152.36

13,486.62

11,023.06

Book value of unquoted investments

5,308.50

5,411.95

7,509.85

5,992.44

4,095.69

Market value of quoted investments

1,540.94

1,615.72

1,041.76

251.41

661.29

Contingent liabilities

6,537.78

3,938.76

3,292.50

2,924.33

2,726.11

Number of equity sharesoutstanding (Lacs)

19572.21

19572.21

19572.21

9786.10

9786.10

Sources of funds
Owner's fund
Equity share capital
Share application money
Preference share capital
Reserves & surplus

Loan funds
Secured loans
Unsecured loans
Total

Uses of funds
Fixed assets
Gross block
Less : revaluation reserve

Net current assets


Current assets, loans & advances
Less : current liabilities & provisions
Total net current assets
Miscellaneous expenses not written
Total

Notes:

Dividend
Year

Month

Dividend (%)

2013

Jan

300

2012

Oct

300

2012

Jul

300

2012

Apr

1,600

2012

Jan

300

2011

Oct

300

2011

Jul

300

2011

Apr

800

2011

Jan

200

2010

Oct

200

2010

Jul

200

2010

Apr

1,400

2010

Jan

200

2009

Oct

200

2009

Jul

200

2009

Apr

500

2009

Jan

300

2008

Jul

300

2008

Jul

300

2008

Apr

500

2008

Jan

300

Capital structure
From
Year

To
Year

Class Of
Share

Authorized
Capital

Issued
Capital

Paid Up Shares
(Nos)

Paid Up Face
Value

Paid Up
Capital

2011

2012

Equity Share

225.00

195.72

1957220996

195.72

2010

2011

Equity Share

225.00

195.72

1957220996

195.72

2009

2010

Equity Share

225.00

195.72

1957220996

195.72

2008

2009

Equity Share

120.00

97.86

978610498

97.86

2007

2008

Equity Share

120.00

97.86

978610498

97.86

2006

2007

Equity Share

120.00

97.86

978610498

97.86

From
Year

To
Year

Class Of
Share

Authorized
Capital

Issued
Capital

Paid Up Shares
(Nos)

Paid Up Face
Value

Paid Up
Capital

2005

2006

Equity Share

60.00

48.93

489305249

48.93

2004

2005

Equity Share

60.00

48.01

480114809

48.01

2003

2004

Equity Share

40.00

36.44

36440002

10

36.44

Cash flow

(Rs crore)
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

13,366.33

8,700.43

6,370.38

5,139.68

5,003.86

3,174.63

5,741.28

6,264.74

4,874.12

3,827.91

433.36

-863.16

-4,556.64

-3,162.22

-2,404.90

-3,897.22

-4,605.61

-1,969.65

-1,588.25

-1,424.77

Net inc/dec in cash and equivlnt

-289.23

283.90

-261.55

123.65

-29.62

Cash and equivalnt begin of year

608.20

293.28

554.83

417.00

557.14

Cash and equivalnt end of year

318.97

577.18

293.28

540.65

527.52

Profit before tax


Net cashflow-operating activity
Net cash used in investing activity
Netcash used in fin. activity

Capital structure
From
Year

To
Year

Class Of
Share

Authorized
Capital

Issued
Capital

Paid Up Shares
(Nos)

Paid Up Face
Value

Paid Up
Capital

2011

2012

Equity
Share

225.00

195.72

1957220996

195.72

2010

2011

Equity
Share

225.00

195.72

1957220996

195.72

2009

2010

Equity
Share

225.00

195.72

1957220996

195.72

2008

2009

Equity
Share

120.00

97.86

978610498

97.86

2007

2008

Equity
Share

120.00

97.86

978610498

97.86

2006

2007

Equity
Share

120.00

97.86

978610498

97.86

2005

2006

Equity
Share

60.00

48.93

489305249

48.93

2004

2005

Equity
Share

60.00

48.01

480114809

48.01

2003

2004

Equity
Share

40.00

36.44

36440002

10

36.44

Ratios
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Adjusted EPS (Rs)

58.77

38.56

28.97

56.01

43.64

Adjusted cash EPS (Rs)

62.29

41.31

31.37

60.28

48.33

Reported EPS (Rs)

55.97

38.62

28.62

47.92

46.07

Reported cash EPS (Rs)

59.48

41.37

31.02

52.18

50.76

Dividend per share

25.00

14.00

20.00

14.00

14.00

Operating profit per share (Rs)

58.17

44.82

34.06

61.52

51.35

Book value (excl rev res) per share (Rs)

126.49

99.53

76.72

136.38

111.43

Book value (incl rev res) per share (Rs.)

126.49

99.53

76.72

136.38

111.43

Net operating income per share (Rs)

198.54

149.58

117.74

228.92

189.39

Free reserves per share (Rs)

124.84

97.95

75.24

134.37

110.22

Operating margin (%)

29.30

29.96

28.93

26.87

27.11

Gross profit margin (%)

27.52

28.12

26.89

25.01

24.64

Net profit margin (%)

26.15

25.44

24.13

20.74

24.11

Adjusted cash margin (%)

29.10

27.21

26.44

26.09

25.29

Adjusted return on net worth (%)

46.46

38.74

37.75

41.06

39.16

Reported return on net worth (%)

44.24

38.80

37.30

35.13

41.34

Return on long term funds (%)

55.31

44.38

42.46

43.27

42.96

Long term debt / Equity

0.01

0.01

0.01

0.01

0.01

Total debt/equity

0.01

0.01

0.01

0.01

0.01

99.21

99.28

99.10

98.95

98.92

1.74

4.91

4.74

5.15

5.74

Current ratio

2.45

2.41

1.49

1.83

1.99

Current ratio (inc. st loans)

2.45

2.41

1.49

1.83

1.98

Quick ratio

2.43

2.40

1.48

1.83

1.97

9,386.18

5,451.66

3,398.94

1,321.77

1,137.21

Per share ratios

Profitability ratios

Leverage ratios

Owners fund as % of total source


Fixed assets turnover ratio

Liquidity ratios

Inventory turnover ratio

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Dividend payout ratio (net profit)

51.94

42.21

81.61

34.20

35.55

Dividend payout ratio (cash profit)

48.87

39.40

75.30

31.41

32.26

Earning retention ratio

50.54

57.73

19.37

70.74

62.47

Cash earnings retention ratio

53.33

60.54

25.53

72.81

66.11

0.01

0.01

0.01

0.01

Financial charges coverage ratio

883.59

462.13

723.63

840.52

1,517.73

Fin. charges cov.ratio (post tax)

712.23

406.19

639.14

688.32

1,453.50

Material cost component (% earnings)

0.03

0.06

0.10

0.23

0.24

Selling cost Component

0.05

0.05

0.03

0.09

0.14

Exports as percent of total sales

98.04

91.08

92.38

93.01

90.51

Import comp. in raw mat. consumed

78.43

80.35

78.67

79.74

80.43

0.33

0.40

0.51

0.50

0.49

79.65

79.65

79.65

59.30

59.30

Payout ratios

Coverage ratios
Adjusted cash flow time total debt

Component ratios

Long term assets / total Assets


Bonus component in equity capital (%)

Wipro Ltd. - Research Center


Profit loss account
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

31,682.90

26,300.50

22,922.00

21,507.30

17,492.60

Material consumed

4,729.80

3,774.00

4,029.40

3,442.60

2,952.30

Manufacturing expenses

3,956.30

2,979.90

2,213.20

1,841.80

299.80

13,223.70

10,937.40

9,062.80

9,249.80

7,409.10

470.40

412.70

378.10

308.40

532.10

3,083.00

2,435.60

1,737.00

1,906.00

2,583.70

25,463.20

20,539.60

17,420.50

16,748.60

13,777.00

6,219.70

5,760.90

5,501.50

4,758.70

3,715.60

Income
Operating income

Expenses

Personnel expenses
Selling expenses
Adminstrative expenses
Expenses capitalised
Cost of sales
Operating profit

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

864.20

662.30

434.20

468.20

326.90

7,083.90

6,423.20

5,935.70

5,226.90

4,042.50

79.90

58.60

108.40

196.80

116.80

739.50

600.10

579.60

533.60

456.00

6.60

Adjusted PBT

6,257.90

5,764.50

5,247.70

4,496.50

3,469.70

Tax charges

1,233.50

861.80

790.80

574.10

406.40

Adjusted PAT

5,024.40

4,902.70

4,456.90

3,922.40

3,063.30

-339.30

-59.00

441.10

-948.60

Reported net profit

4,685.10

4,843.70

4,898.00

2,973.80

3,063.30

Earnigs before appropriation

7,351.40

4,843.70

4,898.00

2,973.80

3,063.30

Equity dividend

1,475.20

981.80

880.90

586.00

876.50

490.80

239.30

220.40

128.30

99.60

148.90

5,636.90

3,150.70

3,888.80

2,288.20

2,037.90

Other recurring income


Adjusted PBDIT
Financial expenses
Depreciation
Other write offs

Non recurring items


Other non cash adjustments

Preference dividend
Dividend tax
Retained earnings

Balance sheet
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

491.70

490.80

293.60

293.00

292.30

Share application money

0.70

1.80

1.50

58.00

Preference share capital

23,860.80

20,829.40

17,396.80

12,220.50

11,260.40

1.00

4.00

5,242.20

4,744.10

5,530.20

5,013.90

3,818.40

29,595.70

26,065.00

23,222.40

17,528.90

15,433.10

8,807.80

7,779.30

6,761.30

5,743.30

2,282.20

Sources of funds
Owner's fund
Equity share capital

Reserves & surplus

Loan funds
Secured loans
Unsecured loans
Total

Uses of funds
Fixed assets
Gross block

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Less : accumulated depreciation

4,158.00

3,542.30

3,105.00

2,563.70

Net block

4,649.80

4,237.00

3,656.30

3,179.60

2,282.20

490.10

603.10

991.10

1,311.80

1,335.00

10,335.20

10,813.40

8,966.50

6,895.30

4,500.10

23,120.80

18,466.30

16,545.30

13,517.20

12,058.10

9,000.20

8,054.80

6,936.80

7,375.00

4,742.30

14,120.60

10,411.50

9,608.50

6,142.20

7,315.80

29,595.70

26,065.00

23,222.40

17,528.90

15,433.10

Book value of unquoted investments

8,338.10

8,425.70

5,884.90

6,884.50

Market value of quoted investments

1,999.60

2,392.30

1,855.60

921.90

707.30

778.00

1,045.40

749.90

24587.56

24544.09

14682.11

14649.81

14615.00

Less : revaluation reserve

Capital work-in-progress
Investments

Net current assets


Current assets, loans & advances
Less : current liabilities & provisions
Total net current assets
Miscellaneous expenses not written
Total

Notes:

Contingent liabilities
Number of equity sharesoutstanding (Lacs)

Cash flow
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Profit before tax

5,918.60

5,705.50

5,688.80

3,547.90

3,469.70

Net cashflow-operating activity

2,997.90

3,710.50

4,477.40

4,344.50

715.90

-339.80

-1,474.00

-3,064.60

-3,662.70

-1,127.50

-1,723.80

-2,732.60

-96.20

-70.70

2,290.90

934.30

-496.10

1,316.60

611.10

1,879.30

Cash and equivalnt begin of year

5,298.50

5,699.40

4,347.70

3,798.10

1,852.80

Cash and equivalnt end of year

6,232.80

5,203.30

5,664.30

4,409.20

3,732.10

Net cash used in investing activity


Netcash used in fin. activity
Net inc/dec in cash and equivlnt

Capital structure
From
Year

To
Year

Class Of
Share

Authorized
Capital

Issued
Capital

Paid Up Shares
(Nos)

Paid Up Face
Value

Paid Up
Capital

2011

2012

Equity
Share

530.00

491.75

2458756228

491.75

2010

2011

Equity
Share

530.00

490.88

2454409145

490.88

2009

2010

Equity
Share

330.00

293.64

1468211189

293.64

From
Year

To
Year

Class Of
Share

Authorized
Capital

Issued
Capital

Paid Up Shares
(Nos)

Paid Up Face
Value

Paid Up
Capital

2008

2009

Equity
Share

330.00

293.00

1465000000

293.00

2007

2008

Equity
Share

330.00

292.29

1461453320

292.29

Dividend
Year

Month

Dividend (%)

2013

Jan

100

2012

Apr

200

2012

Jan

100

2011

Apr

200

2011

Jan

100

2010

Apr

300

2009

Apr

200

2008

Apr

200

Ratios
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Adjusted EPS (Rs)

20.43

17.98

30.36

26.77

20.96

Adjusted cash EPS (Rs)

23.47

20.42

34.30

30.42

24.08

Reported EPS (Rs)

19.05

17.73

33.36

20.30

20.96

Reported cash EPS (Rs)

22.09

20.18

37.31

23.94

24.08

6.00

4.00

6.00

4.00

6.00

Operating profit per share (Rs)

25.30

23.47

37.47

32.48

25.42

Book value (excl rev res) per share (Rs)

99.04

86.86

120.49

85.42

79.05

Book value (incl rev res) per share (Rs.)

99.04

86.86

120.49

85.42

79.05

128.86

107.16

156.12

146.81

119.69

96.18

84.28

116.54

81.06

Operating margin (%)

19.63

21.90

24.00

22.12

21.24

Gross profit margin (%)

17.29

19.62

21.47

19.64

18.63

Net profit margin (%)

14.39

17.96

20.97

13.53

17.19

Adjusted cash margin (%)

17.72

20.40

21.56

20.27

19.74

Per share ratios

Dividend per share

Net operating income per share (Rs)


Free reserves per share (Rs)

Profitability ratios

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Adjusted return on net worth (%)

20.63

20.69

25.19

31.34

26.51

Reported return on net worth (%)

19.23

20.41

27.68

23.76

26.51

Return on long term funds (%)

23.86

27.20

30.12

37.17

23.32

Long term debt / Equity

0.09

0.01

0.01

0.33

Total debt/equity

0.21

0.22

0.31

0.40

0.33

82.28

81.79

76.18

71.39

75.13

1.14

3.45

3.47

3.85

7.81

Current ratio

2.57

2.29

2.39

1.83

2.54

Current ratio (inc. st loans)

1.92

1.45

1.34

1.10

2.54

Quick ratio

2.48

2.20

2.29

1.76

2.44

48.33

43.12

45.40

56.15

39.41

Dividend payout ratio (net profit)

36.59

27.61

20.60

23.05

33.47

Dividend payout ratio (cash profit)

31.56

24.27

18.42

19.54

29.13

Earning retention ratio

65.88

72.76

77.36

82.53

66.53

Cash earnings retention ratio

70.29

76.02

79.97

84.62

70.87

0.90

0.86

1.10

1.13

1.09

Financial charges coverage ratio

88.66

109.61

54.76

26.56

34.61

Fin. charges cov.ratio (post tax)

68.97

93.90

51.53

18.82

31.13

14.78

14.46

18.06

15.98

17.94

1.48

1.56

1.64

1.43

3.04

Exports as percent of total sales

73.98

69.87

73.26

77.28

73.66

Import comp. in raw mat. consumed

33.71

35.34

36.83

45.00

0.39

0.45

0.44

0.45

0.40

96.77

96.94

95.32

95.51

95.68

Leverage ratios

Owners fund as % of total source


Fixed assets turnover ratio

Liquidity ratios

Inventory turnover ratio

Payout ratios

Coverage ratios
Adjusted cash flow time total debt

Component ratios
Material cost component (% earnings)
Selling cost Component

Long term assets / total Assets


Bonus component in equity capital (%)

3.Tata Steel Ltd. - Research Center


Profit loss account
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

33,838.51

29,307.35

24,940.65

24,348.32

19,654.41

Material consumed

9,696.65

9,222.27

8,491.42

8,279.44

6,024.80

Manufacturing expenses

5,608.38

4,463.65

3,803.33

3,349.96

2,693.73

Personnel expenses

3,047.26

2,618.27

2,361.48

2,305.81

1,589.77

Selling expenses

1,832.40

109.36

82.17

61.49

52.53

Adminstrative expenses

2,119.56

1,922.33

1,622.77

1,518.83

1,224.54

-478.23

-198.78

-326.11

-343.65

-175.50

Cost of sales

21,826.02

18,137.10

16,035.06

15,171.88

11,409.87

Operating profit

12,012.49

11,170.25

8,905.59

9,176.44

8,244.54

550.76

327.91

331.59

305.36

347.28

12,563.25

11,498.16

9,237.18

9,481.80

8,591.82

Financial expenses

1,925.42

1,686.27

1,848.19

1,489.50

929.03

Depreciation

1,151.44

1,146.19

1,083.18

973.40

834.61

Adjusted PBT

9,486.39

8,665.70

6,305.81

7,018.90

6,828.18

Tax charges

3,162.63

2,912.44

2,168.50

2,114.87

2,380.28

Adjusted PAT

6,323.76

5,753.26

4,137.31

4,904.03

4,447.90

372.66

1,107.89

909.49

297.71

239.13

6,696.42

6,861.15

5,046.80

5,201.74

4,687.03

23,335.01

19,633.80

14,555.78

11,589.20

9,281.01

1,165.46

1,151.06

709.77

1,168.95

1,168.93

45.88

109.45

22.19

181.57

156.71

122.80

214.10

202.43

21,987.98

18,326.03

13,677.33

10,096.70

7,887.46

Income
Operating income

Expenses

Expenses capitalised

Other recurring income


Adjusted PBDIT

Other write offs

Non recurring items


Other non cash adjustments
Reported net profit
Earnigs before appropriation
Equity dividend
Preference dividend
Dividend tax
Retained earnings

Balance sheet
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

971.41

959.41

887.41

730.79

730.78

Share application money

178.20

Preference share capital

5,472.66

5,472.52

51,245.05

47,307.02

36,281.34

23,501.15

21,097.43

1,919.27

2,013.00

2,259.32

3,913.05

3,520.58

Unsecured loans

21,774.55

26,288.14

22,979.88

23,033.13

14,501.11

Total

75,910.28

76,745.77

62,407.95

56,650.78

45,322.42

23,485.63

22,846.26

22,306.07

20,057.01

16,479.59

Less : accumulated depreciation

12,119.37

11,041.16

10,143.63

9,062.47

8,223.48

Net block

11,366.26

11,805.10

12,162.44

10,994.54

8,256.11

Capital work-in-progress

18,506.63

6,969.38

3,843.59

3,487.68

4,367.45

Investments

50,282.52

46,564.94

44,979.67

42,371.78

4,103.19

Current assets, loans & advances

16,648.02

25,337.37

13,425.27

11,591.66

38,196.34

Less : current liabilities & provisions

20,893.15

13,931.02

12,003.02

11,899.95

9,755.78

Total net current assets

-4,245.13

11,406.35

1,422.25

-308.29

28,440.56

105.07

155.11

75,910.28

76,745.77

62,407.95

56,650.78

45,322.42

Book value of unquoted investments

49,617.55

45,899.97

44,243.24

41,665.63

3,790.47

Market value of quoted investments

4,911.43

4,914.95

4,397.79

1,491.89

3,260.65

15,270.84

12,582.24

13,184.61

12,188.55

9,250.08

9712.14

9592.14

8872.14

7305.92

7305.84

Sources of funds
Owner's fund
Equity share capital

Reserves & surplus

Loan funds
Secured loans

Uses of funds
Fixed assets
Gross block
Less : revaluation reserve

Net current assets

Miscellaneous expenses not written


Total

Notes:

Contingent liabilities
Number of equity sharesoutstanding (Lacs)

Cash flow
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

9,857.35

9,776.85

7,214.30

7,315.61

7,066.36

Net cashflow-operating activity

10,256.47

8,542.72

8,369.22

7,397.22

6,254.20

Net cash used in investing activity

-2,859.11

-13,288.13

-5,254.84

-9,428.08

-29,318.58

Netcash used in fin. activity

-7,599.35

5,652.81

-1,473.13

3,156.42

15,848.07

Net inc/dec in cash and equivlnt

-201.99

907.40

1,641.25

1,125.56

-7,216.31

Cash and equivalnt begin of year

4,102.52

3,234.14

1,592.89

465.04

7,681.35

Cash and equivalnt end of year

3,900.53

4,141.54

3,234.14

1,590.60

465.04

Profit before tax

Dividend
Year

Month

Dividend (%)

2012

May

120

2011

May

120

2010

May

80

2009

Jun

160

2008

Jun

160

Capital structure
From
Year

To
Year

Class Of
Share

Authorized
Capital

Issued
Capital

Paid Up Shares
(Nos)

Paid Up Face
Value

Paid Up
Capital

2011

2012

Equity
Share

2,100.00

972.13

971214450

10

971.21

2010

2011

Equity
Share

2,100.00

960.13

959214450

10

959.21

2009

2010

Equity
Share

1,750.00

888.13

887214196

10

887.21

2008

2009

Equity
Share

1,750.00

731.37

730592471

10

730.59

2007

2008

Equity
Share

1,750.00

731.37

730584320

10

730.58

Ratios
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Adjusted EPS (Rs)

65.11

59.98

46.12

65.63

60.58

Adjusted cash EPS (Rs)

76.97

71.93

58.32

78.95

72.00

Reported EPS (Rs)

68.95

71.58

56.37

69.70

63.85

Reported cash EPS (Rs)

80.80

83.53

68.58

83.02

75.27

Dividend per share

12.00

12.00

8.00

16.00

16.00

Operating profit per share (Rs)

123.69

116.45

100.38

125.60

112.85

Book value (excl rev res) per share (Rs)

537.64

503.19

418.94

330.24

296.65

Book value (incl rev res) per share (Rs.)

537.64

503.19

418.94

330.24

296.65

Net operating income per share (Rs)

348.41

305.53

281.11

333.27

269.02

Free reserves per share (Rs)

504.88

454.52

392.98

309.18

275.25

Operating margin (%)

35.49

38.11

35.70

37.68

41.94

Gross profit margin (%)

32.09

34.20

31.36

33.69

37.70

Net profit margin (%)

19.47

23.16

19.96

21.09

23.43

Adjusted cash margin (%)

21.73

23.28

20.65

23.83

26.41

Adjusted return on net worth (%)

12.11

11.91

11.00

19.87

20.42

Reported return on net worth (%)

12.82

14.22

13.45

21.10

21.52

Return on long term funds (%)

15.04

13.54

13.06

15.21

17.16

Long term debt / Equity

0.46

0.58

0.67

1.31

1.07

Total debt/equity

0.45

0.58

0.67

1.34

1.08

68.78

63.03

59.55

42.77

48.16

0.44

1.29

1.12

1.22

1.20

Current ratio

0.79

1.82

1.12

0.97

3.92

Current ratio (inc. st loans)

0.79

1.78

1.12

0.91

3.81

Quick ratio

0.51

1.45

0.76

0.57

3.52

Inventory turnover ratio

9.40

9.85

10.90

9.36

10.84

20.11

19.04

16.64

27.15

29.39

Per share ratios

Profitability ratios

Leverage ratios

Owners fund as % of total source


Fixed assets turnover ratio

Liquidity ratios

Payout ratios
Dividend payout ratio (net profit)

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Dividend payout ratio (cash profit)

17.16

16.32

13.68

22.80

24.93

Earning retention ratio

78.70

77.27

79.66

71.16

69.02

Cash earnings retention ratio

81.99

81.05

83.92

76.03

73.94

Adjusted cash flow time total debt

3.17

4.10

4.83

4.58

3.41

Financial charges coverage ratio

6.52

6.82

5.00

6.37

9.25

Fin. charges cov.ratio (post tax)

5.08

5.75

4.32

5.15

6.94

29.30

32.05

33.50

35.19

30.85

Selling cost Component

5.41

0.37

0.32

0.25

0.26

Exports as percent of total sales

5.46

8.10

8.41

13.85

11.64

60.55

60.95

59.69

68.85

50.51

0.82

0.72

0.81

0.83

0.30

26.04

26.36

28.50

34.61

34.61

Coverage ratios

Component ratios
Material cost component (% earnings)

Import comp. in raw mat. consumed


Long term assets / total Assets
Bonus component in equity capital (%)

4.Tata Motors Ltd.


Profit loss account
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

54,217.22

47,957.24

35,373.29

25,660.67

28,767.91

40,457.95

34,692.83

24,759.49

19,039.41

20,931.81

Manufacturing expenses

2,937.80

2,224.74

1,652.22

1,171.59

1,230.14

Personnel expenses

2,691.45

2,294.02

1,836.13

1,551.39

1,544.57

Selling expenses

2,370.44

2,289.11

1,583.24

1,224.15

1,179.48

Adminstrative expenses

2,489.16

2,568.50

2,249.92

1,867.05

1,982.79

-907.13

-817.68

-740.54

-916.02

-1,131.40

50,039.67

43,251.52

31,340.46

23,937.57

25,737.39

4,177.55

4,705.72

4,032.83

1,723.10

3,030.52

574.08

420.69

402.27

841.54

359.42

Income
Operating income

Expenses
Material consumed

Expenses capitalised
Cost of sales
Operating profit
Other recurring income

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Adjusted PBDIT

4,751.63

5,126.41

4,435.10

2,564.64

3,389.94

Financial expenses

1,218.62

1,383.79

1,246.25

704.92

471.56

Depreciation

1,606.74

1,360.77

1,033.87

874.54

652.31

106.17

144.03

51.17

64.35

1,926.27

2,275.68

2,010.95

934.01

2,201.72

98.80

384.70

589.46

12.50

547.55

1,827.47

1,890.98

1,421.49

921.51

1,654.17

-585.24

-79.16

818.59

79.75

374.75

15.29

Reported net profit

1,242.23

1,811.82

2,240.08

1,016.55

2,028.92

Earnigs before appropriation

3,321.15

3,745.95

3,926.07

2,399.62

3,042.75

Equity dividend

1,280.70

1,274.23

859.05

311.61

578.43

181.54

192.80

132.89

34.09

81.25

1,858.91

2,278.92

2,934.13

2,053.92

2,383.07

Other write offs


Adjusted PBT
Tax charges
Adjusted PAT
Non recurring items
Other non cash adjustments

Preference dividend
Dividend tax
Retained earnings

Balance sheet
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

634.75

634.65

570.60

514.05

385.54

Share application money

3.06

Preference share capital

18,709.16

19,351.40

14,208.55

11,855.15

7,428.45

Secured loans

6,915.77

7,766.05

7,742.60

5,251.65

2,461.99

Unsecured loans

4,095.86

8,132.70

8,883.31

7,913.91

3,818.53

30,355.54

35,887.86

31,405.06

25,534.76

14,094.51

27,111.76

21,883.32

18,416.81

13,905.17

10,830.83

23.75

24.19

24.63

25.07

25.51

Sources of funds
Owner's fund
Equity share capital

Reserves & surplus

Loan funds

Total

Uses of funds
Fixed assets
Gross block
Less : revaluation reserve

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

9,965.87

8,466.25

7,212.92

6,259.90

5,443.52

17,122.14

13,392.88

11,179.26

7,620.20

5,361.80

2,073.96

4,058.56

5,232.15

6,954.04

5,064.96

20,493.55

22,624.21

22,336.90

12,968.13

4,910.27

Current assets, loans & advances

15,538.16

14,775.61

12,329.48

10,836.58

10,781.23

Less : current liabilities & provisions

24,872.27

18,963.40

19,672.73

12,846.21

12,029.80

Total net current assets

-9,334.11

-4,187.79

-7,343.25

-2,009.63

-1,248.57

2.02

6.05

30,355.54

35,887.86

31,405.06

25,534.76

14,094.51

20,140.06

22,275.15

21,991.93

12,358.84

4,145.82

299.54

379.16

345.53

558.32

2,530.55

Contingent liabilities

3,284.12

4,798.83

3,708.33

5,433.07

5,590.83

Number of equity sharesoutstanding (Lacs)

31735.47

6346.14

5705.58

5140.08

3855.04

Less : accumulated depreciation


Net block
Capital work-in-progress
Investments

Net current assets

Miscellaneous expenses not written


Total

Notes:
Book value of unquoted investments
Market value of quoted investments

Capital structure
From
Year

To
Year

Class Of
Share

Authorized
Capital

Issued
Capital

Paid Up Shares
(Nos)

Paid Up Face
Value

Paid Up
Capital

2011

2012

Equity
Share

900.00

634.71

3173546570

634.71

2010

2011

Equity
Share

900.00

634.61

634613990

10

634.61

2009

2010

Equity
Share

900.00

570.56

570557544

10

570.56

2008

2009

Equity
Share

900.00

514.01

514008314

10

514.01

2007

2008

Equity
Share

450.00

385.50

385503954

10

385.50

Dividend
Year

Month

Dividend (%)

2012

May

200

2011

May

200

Year

Month

Dividend (%)

2010

May

150

2009

May

60

2008

May

150

Ratios
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

5.76

29.80

24.91

17.93

42.91

10.82

52.91

45.56

35.94

61.50

Reported EPS (Rs)

3.91

28.55

39.26

19.48

52.63

Reported cash EPS (Rs)

8.98

51.67

59.91

37.49

71.22

Dividend per share

4.00

20.00

15.00

6.00

15.00

Operating profit per share (Rs)

13.16

74.15

70.68

33.52

78.61

Book value (excl rev res) per share (Rs)

60.95

314.93

259.03

240.60

202.54

Book value (incl rev res) per share (Rs.)

61.03

315.31

259.46

241.09

203.20

170.84

755.69

619.98

499.23

746.24

55.25

287.53

229.67

217.77

182.38

Operating margin (%)

7.70

9.81

11.40

6.71

10.53

Gross profit margin (%)

4.74

6.97

8.47

3.30

8.26

Net profit margin (%)

2.26

3.74

6.26

3.77

6.96

Adjusted cash margin (%)

6.26

6.94

7.26

6.97

8.13

Adjusted return on net worth (%)

9.44

9.46

9.61

7.45

21.18

Reported return on net worth (%)

6.42

9.06

15.15

8.09

25.98

11.49

12.01

12.26

8.89

22.85

Long term debt / Equity

0.41

0.52

0.79

0.49

0.49

Total debt/equity

0.56

0.79

1.12

1.06

0.80

63.72

55.69

47.05

48.44

55.43

1.64

2.22

1.95

1.88

2.69

0.62

0.77

0.62

0.84

0.89

Per share ratios


Adjusted EPS (Rs)
Adjusted cash EPS (Rs)

Net operating income per share (Rs)


Free reserves per share (Rs)

Profitability ratios

Return on long term funds (%)

Leverage ratios

Owners fund as % of total source


Fixed assets turnover ratio

Liquidity ratios
Current ratio

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Current ratio (inc. st loans)

0.50

0.52

0.44

0.43

0.64

Quick ratio

0.40

0.53

0.43

0.58

0.66

13.37

13.86

13.50

13.47

14.44

117.71

80.96

44.28

34.52

32.51

Dividend payout ratio (cash profit)

51.32

44.74

29.02

17.94

24.02

Earning retention ratio

19.99

22.42

30.22

62.49

60.13

Cash earnings retention ratio

57.43

56.32

61.84

81.29

72.18

Adjusted cash flow time total debt

3.21

4.73

6.40

7.13

2.65

Financial charges coverage ratio

3.90

3.70

3.56

3.64

7.19

Fin. charges cov.ratio (post tax)

3.34

3.37

3.74

3.73

6.82

75.77

73.07

71.70

73.26

72.62

Selling cost Component

4.37

4.77

4.47

4.77

4.09

Exports as percent of total sales

6.78

7.00

8.61

9.49

9.88

Import comp. in raw mat. consumed

4.82

5.90

5.94

5.82

4.60

Long term assets / total Assets

0.67

0.72

0.75

0.71

0.58

17.53

17.53

19.50

21.64

28.86

Inventory turnover ratio

Payout ratios
Dividend payout ratio (net profit)

Coverage ratios

Component ratios
Material cost component (% earnings)

Bonus component in equity capital (%)

5.Maruti Suzuki India Ltd. - Research Center


Profit loss account
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

35,558.20

36,561.50

29,317.70

20,729.40

18,066.80

28,170.50

28,806.80

22,435.40

16,339.80

13,622.00

2,085.70

2,159.60

1,278.20

909.70

670.60

Personnel expenses

843.80

703.60

545.60

471.10

356.20

Selling expenses

995.80

960.00

916.00

738.20

560.20

Adminstrative expenses

640.60

614.00

404.60

389.20

326.30

Income
Operating income

Expenses
Material consumed
Manufacturing expenses

Expenses capitalised
Cost of sales
Operating profit
Other recurring income
Adjusted PBDIT
Financial expenses
Depreciation
Other write offs
Adjusted PBT
Tax charges
Adjusted PAT
Non recurring items
Other non cash adjustments
Reported net profit
Earnigs before appropriation
Equity dividend
Preference dividend
Dividend tax
Retained earnings

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

-42.70

-25.70

-22.30

-19.80

32,693.70

33,218.30

25,579.80

18,825.70

15,515.50

2,864.50

3,343.20

3,737.90

1,903.70

2,551.30

473.50

745.70

617.70

547.60

456.10

3,338.00

4,088.90

4,355.60

2,451.30

3,007.40

55.20

24.40

33.50

51.00

59.60

1,138.40

1,013.50

825.00

706.50

568.20

2,144.40

3,051.00

3,497.10

1,693.80

2,379.60

511.00

820.20

1,094.90

457.10

763.30

1,633.40

2,230.80

2,402.20

1,236.70

1,616.30

-107.30

38.90

44.30

-55.90

37.90

109.10

18.90

51.10

37.90

76.60

1,635.20

2,288.60

2,497.60

1,218.70

1,730.80

13,493.00

12,338.50

10,501.80

8,244.40

7,368.10

216.70

216.70

173.30

101.10

144.50

35.10

35.10

28.80

17.20

24.80

13,241.20

12,086.70

10,299.70

8,126.10

7,198.80

Balance sheet
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

144.50

144.50

144.50

144.50

144.50

Share application money

Preference share capital

15,042.90

13,723.00

11,690.60

9,200.40

8,270.90

31.20

26.50

0.10

0.10

1,078.30

278.10

794.90

698.80

900.10

16,265.70

14,176.80

12,656.50

10,043.80

9,315.60

Sources of funds
Owner's fund
Equity share capital

Reserves & surplus

Loan funds
Secured loans
Unsecured loans
Total

Uses of funds

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

14,734.70

11,737.70

10,406.70

8,720.60

7,285.30

Less : accumulated depreciation

7,214.00

6,208.30

5,382.00

4,649.80

3,988.80

Net block

7,520.70

5,529.40

5,024.70

4,070.80

3,296.50

Capital work-in-progress

1,406.30

1,428.60

387.60

861.30

736.30

Investments

6,147.40

5,106.70

7,176.60

3,173.30

5,180.70

Current assets, loans & advances

7,310.30

6,443.10

3,856.00

5,570.00

3,190.50

Less : current liabilities & provisions

6,119.00

4,331.00

3,788.40

3,631.60

3,088.40

Total net current assets

1,191.30

2,112.10

67.60

1,938.40

102.10

16,265.70

14,176.80

12,656.50

10,043.80

9,315.60

Book value of unquoted investments

6,141.30

4,395.60

11.10

3,162.20

5,169.60

Market value of quoted investments

172.30

264.00

215.10

108.70

219.50

Contingent liabilities

5,925.90

5,450.60

3,657.20

1,901.70

2,734.20

Number of equity sharesoutstanding (Lacs)

2889.10

2889.10

2889.10

2889.10

2889.10

Fixed assets
Gross block
Less : revaluation reserve

Net current assets

Miscellaneous expenses not written


Total

Notes:

Cash flow
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Profit before tax

2,146.20

3,108.80

3,592.50

1,675.80

2,503.00

Net cash flow-operating activity

2,229.40

3,050.30

2,887.40

1,193.30

1,830.40

Net cash used in investing activity

-2,918.30

73.40

-4,783.30

951.40

-3,061.50

Net cash used in fin. activity

616.50

-713.40

55.10

-536.20

132.30

Net inc/ dec in cash and equivalent

-72.40

2,410.30

-1,840.80

1,608.50

-1,098.80

Cash and equivalent begin of year

2,508.50

98.20

1,939.00

330.50

1,422.80

Cash and equivalent end of year

2,436.10

2,508.50

98.20

1,939.00

324.00

Dividend
Year

Month

Dividend (%)

2012

Apr

150

2011

Apr

150

2010

Apr

120

2009

Apr

70

2008

Apr

100

Capital structure
From
Year

To
Year

Class Of
Share

Authorized
Capital

Issued
Capital

Paid Up Shares
(Nos)

Paid Up Face
Value

Paid Up
Capital

2011

2012

Equity
Share

372.00

144.46

288910060

144.46

2010

2011

Equity
Share

372.00

144.46

288910060

144.46

2009

2010

Equity
Share

372.00

144.46

288910060

144.46

2008

2009

Equity
Share

372.00

144.46

288910060

144.46

2007

2008

Equity
Share

372.00

144.46

288910060

144.46

(Rs crore)

Ratios
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Adjusted EPS (Rs)

56.54

77.21

83.15

42.81

55.94

Adjusted cash EPS (Rs)

95.94

112.29

111.70

67.26

75.61

Reported EPS (Rs)

56.60

79.21

86.45

42.18

59.91

Reported cash EPS (Rs)

96.00

114.30

115.00

66.64

79.57

7.50

7.50

6.00

3.50

5.00

99.15

115.72

129.38

65.89

88.31

Book value (excl rev res) per share (Rs)

525.68

479.99

409.65

323.45

291.28

Book value (incl rev res) per share (Rs.)

525.68

479.99

409.65

323.45

291.28

1,230.77

1,265.50

1,014.77

717.50

625.34

520.68

474.32

403.82

318.45

286.28

Per share ratios

Dividend per share


Operating profit per share (Rs)

Net operating income per share (Rs)


Free reserves per share (Rs)

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Operating margin (%)

8.05

9.14

12.74

9.18

14.12

Gross profit margin (%)

4.85

6.37

9.93

5.77

10.97

Net profit margin (%)

4.53

6.13

8.34

5.72

9.34

Adjusted cash margin (%)

7.69

8.69

10.78

9.13

11.79

Adjusted return on net worth (%)

10.75

16.08

20.29

13.23

19.20

Reported return on net worth (%)

10.76

16.50

21.10

13.04

20.56

Return on long term funds (%)

14.48

21.74

28.80

17.48

27.35

0.02

0.03

0.06

0.05

0.07

0.02

0.06

0.07

0.10

93.37

97.81

93.51

93.04

90.33

2.34

3.13

2.82

2.38

2.48

Current ratio

1.19

1.49

1.02

1.53

1.03

Current ratio (inc. st loans)

1.02

1.47

0.91

1.51

0.91

Quick ratio

0.88

1.14

0.67

1.26

0.66

22.80

33.33

30.47

30.46

22.93

Dividend payout ratio (net profit)

15.39

11.00

8.09

9.70

9.78

Dividend payout ratio (cash profit)

9.07

7.62

6.08

6.14

7.36

Earning retention ratio

84.59

88.72

91.59

90.44

89.53

Cash earnings retention ratio

90.92

92.24

93.74

93.92

92.25

0.38

0.09

0.25

0.35

0.41

Financial charges coverage ratio

60.47

167.58

130.02

48.06

50.46

Fin. charges cov.ratio (post tax)

51.25

136.33

100.18

38.75

39.57

79.67

78.99

77.21

77.10

77.25

2.80

2.62

3.12

3.56

3.10

10.38

9.56

15.49

7.24

4.10

Profitability ratios

Leverage ratios
Long term debt / Equity
Total debt/equity
Owners fund as % of total source
Fixed assets turnover ratio

Liquidity ratios

Inventory turnover ratio

Payout ratios

Coverage ratios
Adjusted cash flow time total debt

Component ratios
Material cost component (% earnings)
Selling cost Component
Exports as percent of total sales

Import comp. in raw mat. consumed


Long term assets / total Assets
Bonus component in equity capital (%)

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

10.60

11.99

12.89

11.70

10.84

0.66

0.65

0.76

0.59

0.74

6.Reliance Industries Ltd. - Research Center


Profit loss account
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

3,29,932.00

2,48,136.06

1,92,091.87

1,41,959.00

1,33,805.78

2,78,865.00

1,94,833.16

1,49,741.12

1,08,856.78

1,00,699.30

Manufacturing expenses

6,651.00

5,170.51

4,860.38

4,518.96

2,768.03

Personnel expenses

2,857.00

2,621.59

2,330.82

2,397.50

2,119.33

Selling expenses

5,393.00

5,353.10

4,123.77

3,095.27

3,229.59

Adminstrative expenses

2,372.00

2,355.25

2,284.63

2,203.75

2,732.47

-37.00

-30.26

-1,217.92

-3,265.65

-175.46

2,96,101.00

2,10,303.35

1,62,122.80

1,17,806.61

1,11,373.26

33,831.00

37,832.71

29,969.07

24,152.39

22,432.52

4,557.00

2,687.98

2,193.13

1,713.38

772.17

38,388.00

40,520.69

32,162.20

25,865.77

23,204.69

2,668.00

2,328.30

1,999.95

1,774.47

1,162.90

11,394.00

13,607.58

10,496.53

5,195.29

4,847.14

24,326.00

24,584.81

19,665.72

18,896.01

17,194.65

5,710.00

4,969.14

4,324.97

3,137.34

3,559.85

18,616.00

19,615.67

15,340.75

15,758.67

13,634.80

1,424.00

670.63

894.92

-449.35

5,823.49

48.10

Reported net profit

20,040.00

20,286.30

16,235.67

15,309.32

19,506.39

Earnigs before appropriation

26,554.00

25,285.75

21,619.86

19,672.61

22,271.76

2,531.00

2,384.99

2,084.67

1,897.05

1,631.24

Income
Operating income

Expenses
Material consumed

Expenses capitalised
Cost of sales
Operating profit
Other recurring income
Adjusted PBDIT
Financial expenses
Depreciation
Other write offs
Adjusted PBT
Tax charges
Adjusted PAT
Non recurring items
Other non cash adjustments

Equity dividend

Preference dividend
Dividend tax
Retained earnings

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

410.00

386.90

346.24

322.40

277.23

23,613.00

22,513.86

19,188.95

17,453.16

20,363.29

Balance sheet
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

3,271.00

3,273.37

3,270.37

1,573.53

1,453.39

Share application money

69.25

1,682.40

Preference share capital

1,59,698.00

1,42,799.95

1,25,095.97

1,12,945.44

77,441.55

6,969.00

10,571.21

11,670.50

10,697.92

6,600.17

51,658.00

56,825.47

50,824.19

63,206.56

29,879.51

2,21,596.00

2,13,470.00

1,90,861.03

1,88,492.70

1,17,057.02

2,09,552.00

2,21,251.97

2,15,864.71

1,49,628.70

1,04,229.10

3,127.00

5,467.00

8,804.27

11,784.75

871.26

91,770.00

78,545.50

62,604.82

49,285.64

42,345.47

1,14,655.00

1,37,239.47

1,44,455.62

88,558.31

61,012.37

4,885.00

12,819.56

12,138.82

69,043.83

23,005.84

54,008.00

37,651.54

23,228.62

21,606.49

22,063.60

1,18,550.00

91,722.78

62,622.05

54,959.78

43,196.37

Less : current liabilities & provisions

70,502.00

65,963.35

51,584.08

45,675.71

32,221.16

Total net current assets

48,048.00

25,759.43

11,037.97

9,284.07

10,975.21

2,21,596.00

2,13,470.00

1,90,861.03

1,88,492.70

1,17,057.02

23,339.00

22,377.26

15,563.83

18,927.65

12,746.75

Sources of funds
Owner's fund
Equity share capital

Reserves & surplus

Loan funds
Secured loans
Unsecured loans
Total

Uses of funds
Fixed assets
Gross block
Less : revaluation reserve
Less : accumulated depreciation
Net block
Capital work-in-progress
Investments

Net current assets


Current assets, loans & advances

Miscellaneous expenses not written


Total

Notes:
Book value of unquoted investments

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Market value of quoted investments

31,439.00

15,839.31

8,248.22

2,930.63

53,126.09

Contingent liabilities

45,831.00

41,825.13

25,531.21

36,432.69

37,157.61

Number of equity sharesoutstanding (Lacs)

32710.59

32733.74

32703.74

15737.98

14536.49

Cash flow
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Profit before tax

25,750.00

25,242.24

20,547.44

18,433.23

23,010.14

Net cash flow-operating activity

26,974.00

33,280.52

20,490.22

18,245.86

17,426.74

Net cash used in investing activity

-3,046.00

-20,332.88

-18,204.50

-24,084.20

-23,955.08

-11,465.00

724.57

-10,999.60

23,732.58

8,973.04

Net inc/dec in cash and equivalent

12,463.00

13,672.21

-8,713.88

17,894.24

2,444.70

Cash and equivalent begin of year

27,135.00

13,462.65

22,176.53

4,282.29

1,835.35

Cash and equivalent end of year

39,598.00

27,134.86

13,462.65

22,176.53

4,280.05

Net cash used in fin. activity

Dividend
Year

Month

Dividend (%)

2012

Apr

85

2011

Apr

80

2010

Apr

70

2009

Oct

130

2008

Apr

130

Capital structure
From
Year

To
Year

Class Of
Share

Authorized
Capital

Issued
Capital

Paid Up Shares
(Nos)

Paid Up Face
Value

Paid Up
Capital

2011

2012

Equity
Share

5,000.00

3,271.06

3271059340

10

3,271.06

2010

2011

Equity
Share

5,000.00

3,273.37

3273374008

10

3,273.37

2009

2010

Equity
Share

5,000.00

3,270.37

3270374360

10

3,270.37

2008

2009

Equity
Share

2,500.00

1,573.80

1573798233

10

1,573.80

2007

2008

Equity
Share

2,500.00

1,453.65

1453648601

10

1,453.65

Ratios
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Adjusted EPS (Rs)

56.91

59.92

46.91

100.13

93.80

Adjusted cash EPS (Rs)

91.74

101.50

79.00

133.14

127.14

Reported EPS (Rs)

61.26

61.97

49.64

97.28

133.86

Reported cash EPS (Rs)

96.10

103.54

81.74

130.29

167.20

8.50

8.00

7.00

13.00

13.00

Operating profit per share (Rs)

103.43

115.58

91.64

153.47

154.32

Book value (excl rev res) per share (Rs)

498.21

446.25

392.51

727.66

542.74

Book value (incl rev res) per share (Rs.)

507.77

462.95

419.43

802.54

548.73

1,008.64

758.04

587.37

902.02

920.48

483.90

431.95

378.21

704.28

520.59

10.25

15.24

15.60

17.01

16.76

Gross profit margin (%)

6.80

9.76

10.13

13.35

13.14

Net profit margin (%)

5.99

8.08

8.35

10.65

14.45

Adjusted cash margin (%)

8.97

13.24

13.29

14.58

13.73

Adjusted return on net worth (%)

11.42

13.42

11.95

13.76

17.28

Reported return on net worth (%)

12.29

13.88

12.64

13.36

24.66

Return on long term funds (%)

12.78

13.37

11.71

11.34

17.18

Long term debt / Equity

0.29

0.37

0.44

0.59

0.35

Total debt/equity

0.35

0.46

0.48

0.64

0.46

73.54

68.42

67.25

60.77

68.38

1.49

1.58

1.24

1.01

1.29

Current ratio

1.68

1.39

1.21

1.20

1.34

Current ratio (inc. st loans)

1.44

1.16

1.04

1.06

0.97

Quick ratio

1.17

0.93

0.68

0.87

0.88

10.42

9.59

8.29

12.92

10.57

14.67

13.66

14.97

14.49

9.80

Per share ratios

Dividend per share

Net operating income per share (Rs)


Free reserves per share (Rs)

Profitability ratios
Operating margin (%)

Leverage ratios

Owners fund as % of total source


Fixed assets turnover ratio

Liquidity ratios

Inventory turnover ratio

Payout ratios
Dividend payout ratio (net profit)

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

9.35

8.17

9.09

10.82

7.85

Earning retention ratio

84.21

85.87

84.16

85.92

86.01

Cash earnings retention ratio

90.20

91.66

90.60

89.41

89.68

1.95

2.03

2.42

3.53

1.97

Financial charges coverage ratio

14.39

17.40

16.08

14.58

19.95

Fin. charges cov.ratio (post tax)

12.78

15.56

14.37

12.56

21.90

84.78

79.82

80.00

76.98

73.86

1.63

2.15

2.14

2.18

2.41

Exports as percent of total sales

60.15

56.64

53.46

61.22

56.80

Import comp. in raw mat. consumed

91.54

91.71

95.39

95.74

93.96

0.51

0.57

0.65

0.75

0.70

64.46

64.41

64.47

30.61

33.14

Dividend payout ratio (cash profit)

Coverage ratios
Adjusted cash flow time total debt

Component ratios
Material cost component (% earnings)
Selling cost Component

Long term assets / total Assets


Bonus component in equity capital (%)

7.ICICI Bank Ltd. - Research Center


Profit loss account
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

39,906.00

32,369.69

32,747.36

38,250.39

39,467.92

Material consumed

Manufacturing expenses

3,515.28

2,816.93

1,925.79

1,971.70

2,078.90

292.92

305.79

236.28

669.21

1,750.60

4,510.89

4,909.00

7,440.42

7,475.63

6,447.32

Cost of sales

8,319.09

8,031.72

9,602.49

10,116.54

10,276.82

Operating profit

8,778.41

7,380.82

5,552.30

5,407.91

5,706.85

147.92

7.26

305.36

330.64

65.58

8,926.33

7,388.08

5,857.66

5,738.55

5,772.43

22,808.50

16,957.15

17,592.57

22,725.93

23,484.24

Income
Operating income

Expenses

Personnel expenses
Selling expenses
Adminstrative expenses
Expenses capitalised

Other recurring income


Adjusted PBDIT
Financial expenses

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

524.53

562.44

619.50

678.60

578.35

-14,406.70

-10,131.51

-12,354.42

-17,665.98

5,194.08

Tax charges

2,193.52

1,609.33

1,600.78

1,830.51

1,611.73

Adjusted PAT

6,466.94

5,110.21

3,890.47

3,740.62

4,092.12

Non recurring items

-1.69

41.17

134.52

17.51

65.61

Other non cash adjustments

-0.43

-2.17

-0.58

6,464.83

5,149.21

4,024.98

3,757.55

4,157.73

11,483.01

8,613.59

6,834.63

6,193.87

5,156.00

1,902.04

1,612.58

1,337.95

1,224.58

1,227.70

220.35

202.28

164.04

151.21

149.67

9,360.61

6,798.73

5,332.63

4,818.07

3,778.63

Depreciation
Other write offs
Adjusted PBT

Reported net profit


Earnigs before appropriation
Equity dividend
Preference dividend
Dividend tax
Retained earnings

Balance sheet
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

1,152.77

1,151.82

1,114.89

1,113.29

1,112.68

Share application money

2.39

0.29

Preference share capital

350.00

350.00

59,250.09

53,938.82

50,503.48

48,419.73

45,357.53

Unsecured loans

2,55,499.96

2,25,602.11

2,02,016.60

2,18,347.82

2,44,431.05

Total

3,15,905.20

2,80,693.05

2,53,634.96

2,68,230.84

2,91,251.26

9,424.39

9,107.47

7,114.12

7,443.71

7,036.00

Less : accumulated depreciation

4,809.70

4,363.21

3,901.43

3,642.09

2,927.11

Net block

4,614.69

4,744.26

3,212.69

3,801.62

4,108.90

Sources of funds
Owner's fund
Equity share capital

Reserves & surplus

Loan funds
Secured loans

Uses of funds
Fixed assets
Gross block
Less : revaluation reserve

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

1,59,560.04

1,34,685.96

1,20,892.80

1,03,058.31

1,11,454.34

Current assets, loans & advances

34,618.88

27,630.41

29,997.23

34,384.06

31,129.77

Less : current liabilities & provisions

17,576.98

15,986.35

15,501.18

43,746.43

42,895.38

Total net current assets

17,041.89

11,644.06

14,496.05

-9,362.37

-11,765.62

1,81,216.62

1,51,074.28

1,38,601.54

97,497.56

1,03,797.62

Book value of unquoted investments

Market value of quoted investments

9,23,024.36

9,31,638.84

7,33,546.20

8,40,670.63

4,01,114.91

11527.14

11517.72

11148.45

11132.51

11126.87

Capital work-in-progress
Investments

Net current assets

Miscellaneous expenses not written


Total

Notes:

Contingent liabilities
Number of equity sharesoutstanding (Lacs)

Cash flow
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Profit before tax

8,803.42

6,760.70

5,345.32

5,116.97

5,056.10

Net cash flow-operating activity

9,683.82

-6,908.92

1,869.21

-14,188.49

-11,631.15

-12,280.17

-2,108.82

6,150.73

3,857.88

-17,561.11

Net cash used in fin. activity

3,829.95

4,283.20

1,382.62

1,625.36

29,964.82

Net inc/dec in cash and equivalent

2,139.23

-4,783.61

8,907.13

-8,074.57

683.55

Cash and equivalent begin of year

34,090.08

38,873.69

29,966.56

38,041.13

37,357.58

Cash and equivalent end of year

36,229.31

34,090.08

38,873.69

29,966.56

38,041.13

Net cash used in investing activity

Dividend
Year

Month

Dividend (%)

2012

Apr

165

2011

Apr

140

2010

Apr

120

2009

Apr

110

2008

Apr

110

Capital structure
From
Year

To
Year

Class Of
Share

Authorized
Capital

Issued
Capital

Paid Up Shares
(Nos)

Paid Up Face
Value

Paid Up
Capital

2011

2012

Equity
Share

1,275.00

1,152.71

1152714442

10

1,152.71

2010

2011

Equity
Share

1,275.00

1,151.77

1151772372

10

1,151.77

2009

2010

Equity
Share

1,275.00

1,114.85

1114845314

10

1,114.85

2008

2009

Equity
Share

1,275.00

1,113.25

1113250642

10

1,113.25

2007

2008

Equity
Share

1,275.00

1,112.69

1112687495

10

1,112.69

Ratios
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Adjusted EPS (Rs)

56.10

44.37

34.90

33.60

36.78

Adjusted cash EPS (Rs)

60.65

49.25

40.45

39.70

41.97

Reported EPS (Rs)

56.09

44.73

36.10

33.76

37.37

Reported cash EPS (Rs)

60.64

49.61

41.66

39.85

42.56

Dividend per share

16.50

14.00

12.00

11.00

11.00

Operating profit per share (Rs)

76.15

64.08

49.80

48.58

51.29

Book value (excl rev res) per share (Rs)

524.01

478.31

463.01

444.94

417.64

Book value (incl rev res) per share (Rs.)

524.01

478.31

463.01

444.94

417.64

Net operating income per share (Rs)

346.19

281.04

293.74

343.59

354.71

Free reserves per share (Rs)

376.49

358.12

356.94

351.04

346.21

Operating margin (%)

21.99

22.80

16.95

14.13

14.45

Gross profit margin (%)

20.68

21.06

15.06

12.36

12.99

Net profit margin (%)

16.14

15.91

12.17

9.74

10.51

Adjusted cash margin (%)

17.45

17.52

13.64

11.45

11.81

Adjusted return on net worth (%)

10.70

9.27

7.53

7.55

8.80

Reported return on net worth (%)

10.70

9.35

7.79

7.58

8.94

Return on long term funds (%)

52.09

42.97

44.72

56.72

62.34

0.01

0.01

Per share ratios

Profitability ratios

Leverage ratios
Long term debt / Equity

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

4.23

4.10

3.91

4.42

5.27

19.12

19.62

20.35

18.46

15.95

0.09

3.55

4.60

5.14

5.61

Current ratio

1.97

1.73

1.94

0.78

0.72

Current ratio (inc. st loans)

0.12

0.11

0.13

0.13

0.10

16.71

15.86

14.70

5.94

6.42

Dividend payout ratio (net profit)

32.82

35.23

37.31

36.60

33.12

Dividend payout ratio (cash profit)

30.36

31.76

32.33

31.00

29.08

Earning retention ratio

67.19

64.49

61.40

63.23

66.35

Cash earnings retention ratio

69.65

68.01

66.70

68.87

70.51

36.54

39.77

44.79

49.41

52.34

Financial charges coverage ratio

0.39

0.43

0.33

0.25

1.25

Fin. charges cov.ratio (post tax)

1.31

1.34

1.26

1.20

1.20

0.73

0.94

0.72

1.74

4.43

Exports as percent of total sales

Import comp. in raw mat. consumed

0.82

0.83

0.80

0.75

0.78

Total debt/equity
Owners fund as % of total source
Fixed assets turnover ratio

Liquidity ratios

Quick ratio
Inventory turnover ratio

Payout ratios

Coverage ratios
Adjusted cash flow time total debt

Component ratios
Material cost component (% earnings)
Selling cost Component

Long term assets / total Assets


Bonus component in equity capital (%)

8.Infosys Ltd. - Research Center


Profit loss account
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

31,254.00

25,385.00

21,140.00

20,264.00

15,648.00

Income
Operating income

Expenses

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

24.00

23.00

22.00

20.00

18.00

3,145.00

2,613.00

2,115.00

1,822.00

1,549.00

15,481.00

12,464.00

10,356.00

9,975.00

7,771.00

48.00

33.00

87.00

83.00

89.00

2,493.00

1,837.00

1,198.00

1,456.00

1,257.00

Cost of sales

21,191.00

16,970.00

13,778.00

13,356.00

10,684.00

Operating profit

10,063.00

8,415.00

7,362.00

6,908.00

4,964.00

1,748.00

1,108.00

871.00

874.00

678.00

11,811.00

9,523.00

8,233.00

7,782.00

5,642.00

2.00

1.00

2.00

2.00

1.00

794.00

740.00

807.00

694.00

546.00

11,015.00

8,782.00

7,424.00

7,086.00

5,095.00

Tax charges

3,110.00

2,378.00

1,717.00

895.00

630.00

Adjusted PAT

7,905.00

6,404.00

5,707.00

6,191.00

4,465.00

565.00

39.00

96.00

-372.00

5.00

-1.00

8,470.00

6,443.00

5,803.00

5,818.00

4,470.00

24,061.00

20,249.00

16,108.00

12,460.00

9,314.00

2,699.00

3,445.00

1,434.00

1,345.00

1,902.00

438.00

568.00

240.00

228.00

323.00

20,924.00

16,236.00

14,434.00

10,887.00

7,089.00

Material consumed
Manufacturing expenses
Personnel expenses
Selling expenses
Adminstrative expenses
Expenses capitalised

Other recurring income


Adjusted PBDIT
Financial expenses
Depreciation
Other write offs
Adjusted PBT

Non recurring items


Other non cash adjustments
Reported net profit
Earnigs before appropriation
Equity dividend
Preference dividend
Dividend tax
Retained earnings

Balance sheet
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

287.00

287.00

287.00

286.00

286.00

Share application money

Preference share capital

29,470.00

24,214.00

21,749.00

17,523.00

13,204.00

Sources of funds
Owner's fund
Equity share capital

Reserves & surplus

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Secured loans

Unsecured loans

29,757.00

24,501.00

22,036.00

17,809.00

13,490.00

7,173.00

6,934.00

6,357.00

5,986.00

4,508.00

Less : accumulated depreciation

3,112.00

2,878.00

2,578.00

2,187.00

1,837.00

Net block

4,061.00

4,056.00

3,779.00

3,799.00

2,671.00

Capital work-in-progress

1,021.00

499.00

409.00

615.00

1,260.00

Investments

1,409.00

1,325.00

4,636.00

1,005.00

964.00

29,594.00

23,150.00

17,242.00

15,732.00

12,326.00

6,328.00

4,529.00

4,030.00

3,342.00

3,731.00

23,266.00

18,621.00

13,212.00

12,390.00

8,595.00

29,757.00

24,501.00

22,036.00

17,809.00

13,490.00

1,409.00

1,325.00

4,636.00

1,005.00

964.00

Contingent liabilities

1,021.00

1,013.00

295.00

347.00

603.00

Number of equity sharesoutstanding (Lacs)

5742.30

5741.52

5738.25

5728.30

5719.96

Loan funds

Total

Uses of funds
Fixed assets
Gross block
Less : revaluation reserve

Net current assets


Current assets, loans & advances
Less : current liabilities & provisions
Total net current assets
Miscellaneous expenses not written
Total

Notes:
Book value of unquoted investments
Market value of quoted investments

Cash flow
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

11,096.00

8,821.00

7,472.00

6,714.00

5,100.00

5,955.00

4,270.00

5,876.00

5,152.00

3,816.00

565.00

3,235.00

-3,314.00

-195.00

-978.00

-2,298.00

-3,642.00

-1,486.00

-2,430.00

-777.00

Net inc/dec in cash and equivlnt

4,282.00

3,868.00

1,008.00

2,600.00

2,079.00

Cash and equivalnt begin of year

15,275.00

11,297.00

10,289.00

7,689.00

5,610.00

Profit before tax


Net cashflow-operating activity
Net cash used in investing activity
Netcash used in fin. activity

Cash and equivalnt end of year

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

19,557.00

15,165.00

11,297.00

10,289.00

7,689.00

Dividend
Year

Month

Dividend (%)

2012

Sep

300

2012

Apr

640

2011

Sep

300

2011

Apr

400

2010

Sep

800

2010

Apr

300

2009

Sep

200

2009

Apr

270

2008

Sep

200

2008

Apr

545

Capital structure
From
Year

To
Year

Class Of
Share

Authorized
Capital

Issued
Capital

Paid Up Shares
(Nos)

Paid Up Face
Value

Paid Up
Capital

2011

2012

Equity
Share

300.00

287.08

574151559

287.08

2010

2011

Equity
Share

300.00

287.08

574151559

287.08

2009

2010

Equity
Share

300.00

286.91

573825192

286.91

2008

2009

Equity
Share

300.00

286.42

572830043

286.42

2007

2008

Equity
Share

300.00

286.00

571995758

286.00

(Rs crore)

Ratios
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Adjusted EPS (Rs)

137.66

111.54

99.46

108.08

78.06

Adjusted cash EPS (Rs)

151.49

124.43

113.52

120.19

87.61

Reported EPS (Rs)

147.50

112.22

101.13

101.58

78.15

Reported cash EPS (Rs)

161.33

125.11

115.19

113.70

87.69

Per share ratios

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

47.00

60.00

25.00

23.50

33.25

Operating profit per share (Rs)

175.24

146.56

128.30

120.59

86.78

Book value (excl rev res) per share (Rs)

518.21

426.73

384.02

310.89

235.84

Book value (incl rev res) per share (Rs.)

518.21

426.73

384.02

310.89

235.84

Net operating income per share (Rs)

544.28

442.13

368.40

353.75

273.57

Free reserves per share (Rs)

512.27

420.79

378.08

305.80

230.74

Operating margin (%)

32.19

33.14

34.82

34.09

31.72

Gross profit margin (%)

29.65

30.23

31.00

30.66

28.23

Net profit margin (%)

25.66

24.31

26.36

27.52

27.37

Adjusted cash margin (%)

26.35

26.96

29.59

32.57

30.69

Adjusted return on net worth (%)

26.56

26.13

25.89

34.76

33.09

Reported return on net worth (%)

28.46

26.29

26.33

32.67

33.13

Return on long term funds (%)

37.02

35.84

33.69

39.80

37.77

Long term debt / Equity

Total debt/equity

100.00

100.00

100.00

100.00

100.00

1.15

3.67

3.33

3.39

3.47

Current ratio

4.68

5.11

4.28

4.71

3.30

Current ratio (inc. st loans)

4.68

5.11

4.28

4.71

3.30

Quick ratio

4.60

5.02

4.20

4.67

3.28

Dividend payout ratio (net profit)

37.03

62.28

28.84

27.03

49.77

Dividend payout ratio (cash profit)

33.86

55.86

25.32

24.15

44.35

Earning retention ratio

60.32

37.34

70.67

74.60

50.17

Cash earnings retention ratio

63.94

43.83

74.31

77.16

55.60

Dividend per share

Profitability ratios

Leverage ratios

Owners fund as % of total source


Fixed assets turnover ratio

Liquidity ratios

Inventory turnover ratio

Payout ratios

Coverage ratios
Adjusted cash flow time total debt

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Financial charges coverage ratio

5,905.50

9,523.00

4,116.50

3,891.00

5,642.00

Fin. charges cov.ratio (post tax)

4,633.00

7,184.00

3,306.00

3,257.50

5,017.00

Material cost component (% earnings)

0.07

0.09

0.10

0.09

0.11

Selling cost Component

0.15

0.12

0.41

0.40

0.56

99.78

94.38

99.69

97.88

92.59

0.17

0.20

0.33

0.25

0.28

93.26

93.26

93.26

93.58

93.58

Component ratios

Exports as percent of total sales


Import comp. in raw mat. consumed
Long term assets / total Assets
Bonus component in equity capital (%)

9.Hero MotoCorp Ltd. - Research Center


Profit loss account
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

23,586.80

19,366.97

15,839.58

12,325.38

10,345.01

17,391.62

14,209.45

10,834.53

8,820.05

7,479.50

Manufacturing expenses

164.28

510.36

535.41

427.78

360.66

Personnel expenses

735.52

618.95

560.32

448.65

383.45

Selling expenses

963.64

866.50

760.41

582.16

503.62

Adminstrative expenses

683.72

564.64

405.26

293.72

250.01

19,938.78

16,769.90

13,095.93

10,572.36

8,977.24

3,648.02

2,597.07

2,743.65

1,753.02

1,367.77

82.98

123.68

98.77

108.56

88.85

3,731.00

2,720.75

2,842.42

1,861.58

1,456.62

33.43

28.20

11.14

13.04

13.47

1,097.34

402.38

191.47

180.66

160.32

2,600.23

2,290.17

2,639.81

1,667.88

1,282.83

486.58

476.86

599.90

499.70

442.40

Income
Operating income

Expenses
Material consumed

Expenses capitalised
Cost of sales
Operating profit
Other recurring income
Adjusted PBDIT
Financial expenses
Depreciation
Other write offs
Adjusted PBT
Tax charges

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

2,113.65

1,813.31

2,039.91

1,168.18

840.43

264.48

114.59

191.92

113.58

127.45

Reported net profit

2,378.13

1,927.90

2,231.83

1,281.76

967.88

Earnigs before appropriation

3,822.93

4,074.45

4,939.11

3,303.53

2,562.66

898.59

2,096.72

2,196.56

399.38

379.41

145.77

340.14

371.00

67.87

64.48

2,778.57

1,637.59

2,371.55

2,836.28

2,118.77

Adjusted PAT
Non recurring items
Other non cash adjustments

Equity dividend
Preference dividend
Dividend tax
Retained earnings

Balance sheet
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

39.94

39.94

39.94

39.94

39.94

Share application money

Preference share capital

4,249.89

2,916.12

3,425.08

3,760.81

2,946.30

994.85

1,458.45

32.71

66.03

78.49

132.00

5,284.68

4,447.22

3,531.05

3,879.24

3,118.24

6,308.26

5,538.46

2,750.98

2,516.27

1,938.78

Less : accumulated depreciation

2,522.75

1,458.18

1,092.20

942.56

782.52

Net block

3,785.51

4,080.28

1,658.78

1,573.71

1,156.26

193.95

125.14

48.14

120.54

408.49

3,964.26

5,128.75

3,925.71

3,368.75

2,566.82

1,951.69

1,510.52

2,890.46

1,022.14

942.00

Sources of funds
Owner's fund
Equity share capital

Reserves & surplus

Loan funds
Secured loans
Unsecured loans
Total

Uses of funds
Fixed assets
Gross block
Less : revaluation reserve

Capital work-in-progress
Investments

Net current assets


Current assets, loans & advances

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

4,610.73

6,397.47

4,992.04

2,205.90

1,955.33

-2,659.04

-4,886.95

-2,101.58

-1,183.76

-1,013.33

5,284.68

4,447.22

3,531.05

3,879.24

3,118.24

3,659.51

5,065.79

3,900.68

3,305.14

2,357.62

Market value of quoted investments

302.20

62.14

25.03

40.55

209.20

Contingent liabilities

252.62

131.90

73.04

100.54

56.37

1996.88

1996.88

1996.88

1996.88

1996.88

Less : current liabilities & provisions


Total net current assets
Miscellaneous expenses not written
Total

Notes:
Book value of unquoted investments

Number of equity sharesoutstanding (Lacs)

Cash flow
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Profit before tax

2,864.71

2,404.76

2,831.73

1,781.46

1,410.28

Net cash low-operating activity

2,359.78

2,288.11

2,686.64

1,359.03

1,211.78

92.79

-1,322.31

-527.63

-861.19

-781.01

-2,458.16

-989.18

-2,109.31

-499.93

-432.33

Net inc/dec in cash and equivalent

-5.59

-23.38

49.70

-2.09

-1.56

Cash and equivalent begin of year

39.32

62.61

13.45

15.19

16.66

Cash and equivalent end of year

33.73

39.23

63.15

13.10

15.10

Net cash used in investing activity


Net cash used in fin. activity

Dividend
Year

Month

Dividend (%)

2012

May

2,250

2011

May

1,750

2011

Apr

3,500

2010

Apr

1,500

2010

Mar

4,000

2009

Apr

1,000

2008

Apr

950

Capital structure
From
Year

To
Year

Class Of
Share

2011

2012

Equity
Share

Authorized
Capital

Issued
Capital

Paid Up Shares
(Nos)

Paid Up Face
Value

Paid Up
Capital

50.00

39.94

199687500

39.94

From
Year

To
Year

Class Of
Share

Authorized
Capital

Issued
Capital

Paid Up Shares
(Nos)

Paid Up Face
Value

Paid Up
Capital

2010

2011

Equity
Share

50.00

39.94

199687500

39.94

2009

2010

Equity
Share

50.00

39.94

199687500

39.94

2008

2009

Equity
Share

50.00

39.94

199687500

39.94

2007

2008

Equity
Share

50.00

39.94

199687500

39.94

Ratios
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Adjusted EPS (Rs)

105.85

90.81

102.16

58.50

42.09

Adjusted cash EPS (Rs)

160.80

110.96

111.74

67.55

50.12

Reported EPS (Rs)

119.09

96.55

111.77

64.19

48.47

Reported cash EPS (Rs)

174.05

116.70

121.35

73.24

56.50

45.00

105.00

110.00

20.00

19.00

Operating profit per share (Rs)

182.69

130.06

137.40

87.79

68.50

Book value (excl rev res) per share (Rs)

214.83

148.03

173.52

190.33

149.55

Book value (incl rev res) per share (Rs.)

214.83

148.03

173.52

190.33

149.55

1,181.19

969.86

793.22

617.23

518.06

212.83

146.03

171.52

188.33

147.55

Operating margin (%)

15.46

13.40

17.32

14.22

13.22

Gross profit margin (%)

10.81

11.33

16.11

12.75

11.67

Net profit margin (%)

10.04

9.89

14.00

10.30

9.27

Adjusted cash margin (%)

13.56

11.36

14.00

10.84

9.59

Adjusted return on net worth (%)

49.27

61.34

58.87

30.73

28.14

Reported return on net worth (%)

55.43

65.21

64.41

33.72

32.41

Return on long term funds (%)

49.83

52.13

75.07

43.33

41.57

Long term debt / Equity

0.23

0.50

0.01

0.02

0.04

Total debt/equity

0.23

0.50

0.01

0.02

0.04

81.17

66.46

98.13

97.97

95.76

Per share ratios

Dividend per share

Net operating income per share (Rs)


Free reserves per share (Rs)

Profitability ratios

Leverage ratios

Owners fund as % of total source

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

4.85

3.70

6.29

5.34

5.89

Current ratio

0.42

0.23

0.57

0.46

0.48

Current ratio (inc. st loans)

0.42

0.23

0.57

0.46

0.48

Quick ratio

0.27

0.15

0.49

0.31

0.31

40.84

43.88

42.80

47.53

42.82

Dividend payout ratio (net profit)

43.91

126.39

115.04

36.45

45.86

Dividend payout ratio (cash profit)

30.04

104.57

105.95

31.95

39.34

Earning retention ratio

50.59

-34.38

-25.86

60.01

47.19

Cash earnings retention ratio

67.48

-9.98

-15.06

65.36

55.65

0.30

0.67

0.02

0.05

0.13

Financial charges coverage ratio

111.61

96.48

255.15

142.76

108.14

Fin. charges cov.ratio (post tax)

104.96

83.63

218.53

113.15

84.76

74.13

73.50

68.32

71.73

72.16

Selling cost Component

4.08

4.47

4.80

4.72

4.86

Exports as percent of total sales

2.54

2.29

2.13

2.01

2.35

Import comp. in raw mat. consumed

3.92

4.22

1.66

0.79

0.67

Long term assets / total Assets

0.79

0.85

0.65

0.82

0.80

59.98

59.98

59.98

59.98

59.98

Fixed assets turnover ratio

Liquidity ratios

Inventory turnover ratio

Payout ratios

Coverage ratios
Adjusted cash flow time total debt

Component ratios
Material cost component (% earnings)

Bonus component in equity capital (%)

10.HDFC Bank Ltd. - Research Center


Profit loss account
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

32,539.11

24,393.60

19,958.76

19,770.72

12,354.41

Material consumed

Manufacturing expenses

3,399.91

2,836.04

2,289.18

2,238.20

1,301.35

Income
Operating income

Expenses

Personnel expenses

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

152.48

158.95

83.12

108.68

114.73

5,146.73

4,552.96

4,936.73

4,583.86

2,247.48

Cost of sales

8,699.12

7,547.95

7,309.02

6,930.74

3,663.56

Operating profit

8,850.41

7,460.57

4,863.44

3,928.87

3,803.73

-103.98

17.72

43.04

8,746.43

4,881.17

3,846.77

14,989.58

9,385.08

7,786.30

8,911.10

4,887.12

542.52

497.41

394.39

359.91

271.72

-6,785.66

-2,421.92

4,486.77

-5,342.14

-1,312.07

Tax charges

2,606.80

1,892.86

1,340.99

1,054.92

690.90

Adjusted PAT

5,165.58

3,927.22

2,944.68

2,240.75

1,589.48

1.51

-0.82

4.02

4.19

0.70

-2.12

-2.65

-0.93

-0.59

-0.06

5,164.97

3,923.75

2,947.77

2,244.35

1,590.12

11,339.21

8,456.55

6,403.33

4,818.98

3,522.15

1,009.08

767.62

549.29

425.38

301.27

163.70

124.53

91.23

72.29

51.20

10,166.43

7,564.40

5,762.81

4,321.31

3,169.68

Selling expenses
Adminstrative expenses
Expenses capitalised

Other recurring income


Adjusted PBDIT
Financial expenses
Depreciation
Other write offs
Adjusted PBT

Non recurring items


Other non cash adjustments
Reported net profit
Earnigs before appropriation
Equity dividend
Preference dividend
Dividend tax
Retained earnings

Balance sheet
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

469.34

465.23

457.74

425.38

354.43

Share application money

0.30

400.92

Preference share capital

29,455.04

24,914.04

21,064.75

14,226.43

11,142.80

2,46,706.45

2,08,586.41

1,67,404.44

1,42,811.58

1,00,768.60

Sources of funds
Owner's fund
Equity share capital

Reserves & surplus

Loan funds
Secured loans
Unsecured loans

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

2,76,631.12

2,33,965.67

1,88,926.93

1,57,864.31

1,12,265.83

5,930.24

5,244.21

4,707.97

3,956.63

2,386.99

Less : accumulated depreciation

3,583.05

3,073.56

2,585.16

2,249.90

1,211.86

Net block

2,347.19

2,170.65

2,122.81

1,706.73

1,175.13

97,482.91

70,929.37

58,607.62

58,817.55

49,393.54

Current assets, loans & advances

21,721.64

14,601.08

5,955.15

6,356.83

4,402.69

Less : current liabilities & provisions

37,431.87

28,992.86

20,615.94

22,720.62

16,431.91

-15,710.23

-14,391.78

-14,660.79

-16,363.79

-12,029.22

84,119.87

58,708.23

46,069.63

44,160.49

38,539.45

Book value of unquoted investments

Market value of quoted investments

8,83,985.32

5,88,550.98

4,87,176.37

4,14,533.93

5,99,928.79

23466.88

4652.26

4577.43

4253.84

3544.33

Total

Uses of funds
Fixed assets
Gross block
Less : revaluation reserve

Capital work-in-progress
Investments

Net current assets

Total net current assets


Miscellaneous expenses not written
Total

Notes:

Contingent liabilities
Number of equity shares outstanding ( Lakhs )

Cash flow
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

7,513.17

5,818.66

4,289.14

3,299.25

2,280.63

-11,355.61

-375.83

9,389.89

-1,736.14

3,583.43

-686.85

-1,122.74

-551.51

-663.78

-619.82

3,286.19

1,227.99

3,598.91

2,964.66

3,628.34

Net inc/dec in cash and equivalent

-8,731.11

-273.56

12,435.78

564.74

6,591.95

Cash and equivalent begin of year

29,668.83

29,942.40

17,506.62

14,778.34

8,074.54

Cash and equivalent end of year

20,937.73

29,668.83

29,942.40

15,343.08

14,666.49

Profit before tax


Net cash flow-operating activity
Net cash used in investing activity
Net cash used in fin. activity

Dividend
Year

Month

Dividend (%)

2012

Apr

215

2011

Apr

165

2010

Apr

120

2009

Apr

100

2008

Apr

85

Capital structure
From
Year

To
Year

Class Of
Share

Authorized
Capital

Issued
Capital

Paid Up Shares
(Nos)

Paid Up Face
Value

Paid Up
Capital

2011

2012

Equity
Share

550.00

469.34

2346688270

469.34

2010

2011

Equity
Share

550.00

465.23

465225684

10

465.23

2009

2010

Equity
Share

550.00

457.74

457743272

10

457.74

2008

2009

Equity
Share

550.00

425.38

425384109

10

425.38

2007

2008

Equity
Share

550.00

354.43

354432920

10

354.43

Ratios
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Adjusted EPS (Rs)

22.01

84.42

64.33

52.68

44.85

Adjusted cash EPS (Rs)

24.32

95.11

72.95

61.14

52.51

Reported EPS (Rs)

22.02

84.40

64.42

52.77

44.87

Reported cash EPS (Rs)

24.33

95.09

73.03

61.24

52.53

4.30

16.50

12.00

10.00

8.50

37.71

160.36

106.25

92.36

107.32

Book value (excl rev res) per share (Rs)

127.52

545.53

470.19

344.44

324.38

Book value (incl rev res) per share (Rs.)

127.52

545.53

470.19

344.44

324.38

Net operating income per share (Rs)

138.66

524.34

436.03

464.77

348.57

97.01

419.10

363.55

252.37

269.89

Operating margin (%)

27.19

30.58

24.36

19.87

30.78

Gross profit margin (%)

25.53

28.54

22.39

18.05

28.58

Per share ratios

Dividend per share


Operating profit per share (Rs)

Free reserves per share (Rs)

Profitability ratios

Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Net profit margin (%)

15.93

16.09

14.76

11.35

12.82

Adjusted cash margin (%)

17.59

18.13

16.71

13.15

15.01

Adjusted return on net worth (%)

17.26

15.47

13.68

15.29

13.82

Reported return on net worth (%)

17.26

15.47

13.70

15.32

13.83

Return on long term funds (%)

76.06

59.91

56.08

83.31

62.34

8.24

8.22

7.78

9.75

8.76

10.81

10.84

11.39

9.30

10.24

0.11

4.65

4.24

5.00

5.18

Current ratio

0.58

0.50

0.28

0.27

0.26

Current ratio (inc. st loans)

0.07

0.06

0.03

0.03

0.03

Quick ratio

6.20

6.89

7.14

5.23

4.89

Dividend payout ratio (net profit)

22.69

22.72

21.72

22.16

22.16

Dividend payout ratio (cash profit)

20.54

20.16

19.15

19.10

18.93

Earning retention ratio

77.30

77.29

78.25

77.79

77.83

Cash earnings retention ratio

79.46

79.84

80.82

80.87

81.07

43.22

47.14

50.13

54.91

54.14

Financial charges coverage ratio

0.58

0.79

1.63

0.44

0.78

Fin. charges cov.ratio (post tax)

1.38

1.47

1.43

1.29

1.38

0.46

0.65

0.41

0.54

0.92

Exports as percent of total sales

Import comp. in raw mat. consumed

0.82

0.83

0.91

0.90

0.91

Leverage ratios
Long term debt / Equity
Total debt/equity
Owners fund as % of total source
Fixed assets turnover ratio

Liquidity ratios

Inventory turnover ratio

Payout ratios

Coverage ratios
Adjusted cash flow time total debt

Component ratios
Material cost component (% earnings)
Selling cost Component

Long term assets / total Assets


Bonus component in equity capital (%)