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Income Statement

Glaxo Smith Kline (GSK)


As of 31st December 2010, 2011, 2012
Rs in (000)
Description
Net sales
Cost of sales
Gross profit
Selling, marketing and distribution expenses
Administrative expenses
Other operating expenses
Other operating income
Operating Profit
Financial charges
Profit before taxation
Taxation
Profit after taxation for the year
Other comprehensive income
Fair value gain on available-for-sale investments
Reversal of deficit on revaluation of available-for-sale investments
Deferred tax thereon
Total comprehensive income
Earnings per share
Stock Price Per Share
Total outstanding shares
Net Sales Per Share

Dec 31, 2010


18,916,191
-14,063,242
4,852,949
-2,301,516
-826,236
-171,143
397,696
1,951,750
-20,026
1,931,724
-874,341
1,057,383

3,544
0
-1,240
2,304
1,059,687
4.42
88.4
31,771,778
0.60

12

Dec 31, 2011 Dec 31, 2012


21,750,147
23,149,964
-15,931,728
-17,068,949
5,818,419
6,081,015
-2,790,373
-3,046,675
-1,022,493
-771,322
-194,066
-192,617
461,927
289,207
2,273,414
2,359,608
-36,526
-47,512
2,236,888
2,312,096
-1,095,972
-992,000
1,140,916
1,320,096

0
128
-45
83
1,140,999

0
0
0
0
1,320,096

4.77
73.93
239,269,179
0.09

5.02
73.31
263,196,097
0.09

Balance Sheet
Glaxo Smith Kline (GSK)
As of 31st December 2010, 2011, 2012
Rs. in (000)
Description
EQUITY AND LIABILITIES
CURRENT LIABILITIES
Trade and other payables
Provisions
TOTAL CURRENT LIABILITIES
NON-CURRENT LIABILITIES
Staff retirement benefits
Deferred taxation
TOTAL NON-CURRENT LIABILITIES
TOTAL LIABILITIES

Dec 31, 2010

3,429,292
131,001
3,560,293

115,240
416,452
531,692
4,091,985

SHARE CAPITAL AND RESERVES


Share capital
Reserves
Shareholder's Equity

1,964,118
8,835,696
10,799,814

TOTAL EQUITY AND LIABILITIES

14,891,799

ASSETS
NON-CURRENT ASSETS
Fixed assets
Property, plant and equipment
Intangible - Goodwill
Long-term loans to employees
Long-term deposits
Total Non-current Assets
CURRENT ASSETS
Stores and spares
Stock-in-trade
Trade debts
Loans and advances
Trade deposits and prepayments
Interest accrued
Refunds due from government
Other receivables
Taxation - payments less provision

4,189,996
955,742
73,590
11,871
5,231,199

150,632
4,312,535
295,762
144,267
96,234
19,443
17,534
290,056
623,410

Investments
Cash and bank balances
Total Current Assets

901,955
2,808,772
9,660,600

TOTAL ASSETS

14,891,799

12

Dec 31, 2011

Dec 31, 2012

3,663,772
217,239
3,881,011

3,950,339
200,716
4,151,055

19,706
428,296
448,002

50,381
570,298
620,679

4,329,013

4,771,734

2,392,691
8,715,881
11,108,572

2,631,960
8,839,631
11,471,591

15,437,585

16,243,325

4,771,175
955,742
82,005
11,780
5,820,702

5,784,694
955,742
81,959
16,761
6,839,156

159,268
5,602,526
343,404
163,378
54,657
30,372
17,104
319,800
600,742

170,501
5,080,220
350,362
243,070
92,542
12,205
40,759
438,674
660,092

196,706
2,128,926
9,616,883

198,118
2,117,626
9,404,169

15,437,585

16,243,325

Vertical Analysis Of Income Statement


Glaxo Smith Kline (GSK)
As of 31st December 2010, 2011, 2012
Rs. in (000)
Description
Net sales
Cost of sales
Gross profit
Selling, marketing and distribution expenses
Administrative expenses
Other operating expenses
Other operating income
Operating Profit
Financial charges
Profit before taxation
Taxation
Profit after taxation for the year
Other comprehensive income
Fair value gain on available-for-sale investments
Reversal of deficit on revaluation of available-for-sale investments
Deferred tax thereon

Dec 31, 2010


100.00%
-74.34%
25.66%
-12.17%
-4.37%
-0.90%
2.10%
10.32%
-0.11%
10.21%
-4.62%
5.59%

0.02%
0%
-0.01%

Total comprehensive income

5.60%

Earnings per share

0.00%

tement

1, 2012

Dec 31, 2011 Dec 31, 2012


100.00%
100.00%
-73.25%
-73.73%
26.75%
26.27%
-12.83%
-13.16%
-4.70%
-3.33%
-0.89%
-0.83%
2.12%
1.25%
10.45%
10.19%
-0.17%
-0.21%
10.28%
9.99%
-5.04%
-4.29%
5.25%
5.70%

0.00%
0.00%
0.00%

0.00%
0.00%
0.00%

5.25%

5.70%

0.00%

0.00%

Vertical Analysis of Balance Sheet


Glaxo Smith Kline (GSK)
As of 31st December 2010, 2011, 2012
Rs. in Rupees
Description
EQUITY AND LIABILITIES
CURRENT LIABILITIES
Trade and other payables
Provisions
TOTAL CURRENT LIABILITIES
NON-CURRENT LIABILITIES
Staff retirement benefits
Deferred taxation
TOTAL NON-CURRENT LIABILITIES

Dec 31, 2010

23.03%
0.88%
23.91%

0.77%
2.80%
3.57%

TOTAL LIABILITIES

27.48%

SHARE CAPITAL AND RESERVES


Share capital
Reserves
Shareholder's Equity

13.19%
59.33%
72.52%

TOTAL EQUITY AND LIABILITIES

100.00%

ASSETS
NON-CURRENT ASSETS
Fixed assets
Property, plant and equipment
Intangible - Goodwill
Long-term loans to employees
Long-term deposits
Total Non-current Assets

28.14%
6.42%
0.49%
0.08%
35.13%

CURRENT ASSETS
Stores and spares
Stock-in-trade
Trade debts
Loans and advances
Trade deposits and prepayments
Interest accrued
Refunds due from government
Other receivables
Taxation - payments less provision

1.01%
28.96%
1.99%
0.97%
0.65%
0.13%
0.12%
1.95%
4.19%

Investments
Cash and bank balances
Total Current Assets
TOTAL ASSETS

6.06%
18.86%
64.87%
100.00%

et

12

Dec 31, 2011

Dec 31, 2012

23.73%
1.41%
25.14%

24.32%
1.24%
25.56%

0.13%
2.77%
2.90%

0.31%
3.51%
3.82%

28.04%

29.38%

15.50%
56.46%
71.96%

16.20%
54.42%
70.62%

100.00%

100.00%

30.91%
6.19%
0.53%
0.08%
37.70%

35.61%
5.88%
0.50%
0.10%
42.10%

1.03%
36.29%
2.22%
1.06%
0.35%
0.20%
0.11%
2.07%
3.89%

1.05%
31.28%
2.16%
1.50%
0.57%
0.08%
0.25%
2.70%
4.06%

1.27%
13.79%
62.30%

1.22%
13.04%
57.90%

100.00%

100.00%

Horizontal Analysis Of Income Statement


Glaxo Smith Kline (GSK)
As of 31st December 2010, 2011, 2012
Rs. in (000)
Description
Net sales
Cost of sales
Gross profit
Selling, marketing and distribution expenses
Administrative expenses
Other operating expenses
Other operating income
Operating Profit
Financial charges
Profit before taxation
Taxation
Profit after taxation for the year
Other comprehensive income
Fair valueofgain
on available-for-sale
Reversal
deficit
on revaluation of investments
available-forsale investments
Deferred tax thereon
Total comprehensive income
Earnings per share

Dec 31, 2010


100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%

Dec 31, 2011


114.98%
113.29%
119.89%
121.24%
123.75%
113.39%
116.15%
116.48%
182.39%
115.80%
125.35%
107.90%

100.0%
0.0%
100.0%
100.0%
100.0%

0.00%
0.00%
3.63%
3.60%
107.67%

100%

107.92%

ment

12

Dec 31, 2012


122.38%
121.37%
125.31%
132.38%
93.35%
112.55%
72.72%
120.90%
237.25%
358.15%
119.69%
124.85%

0.00%
0.00%
0.00%
0.00%
124.57%
113.57%

Horizontal Analysis Balance Sheet


Glaxo Smith Kline (GSK)
As of 31st December 2010, 2011, 2012
Rs. in Rupees
Description

Dec 31, 2010

EQUITY AND LIABILITIES


CURRENT LIABILITIES
Trade and other payables
Provisions
TOTAL CURRENT LIABILITIES

100.00%
100.00%
100.00%

NON-CURRENT LIABILITIES
Staff retirement benefits
Deferred taxation
TOTAL NON-CURRENT LIABILITIES

100.00%
100.00%
100.00%

TOTAL LIABILITIES

100.00%

SHARE CAPITAL AND RESERVES


Share capital
Reserves
Shareholder's Equity

100.00%
100.00%
100.00%

TOTAL EQUITY AND LIABILITIES

100.00%

ASSETS
NON-CURRENT ASSETS
Fixed assets
Property, plant and equipment
Intangible - Goodwill
Long-term loans to employees
Long-term deposits
Total Non-current Assets

100.00%
100.00%
100.00%
100.00%
100.00%

CURRENT ASSETS
Stores and spares
Stock-in-trade
Trade debts
Loans and advances
Trade deposits and prepayments
Interest accrued
Refunds due from government
Other receivables
Taxation - payments less provision

100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%

Investments
Cash and bank balances
Total Current Assets

100.00%
100.00%
100.00%

TOTAL ASSETS

100.00%

et

12

Dec 31, 2011

Dec 31, 2012

106.84%
165.83%
109.01%

115.19%
153.22%
116.59%

17.10%
102.84%
84.26%

43.72%
136.94%
116.74%

105.79%

116.61%

121.82%
98.64%
102.86%

134.00%
100.04%
106.22%

103.67%

109.08%

113.87%
100.00%
111.43%
99.23%
111.27%

138.06%
100.00%
111.37%
141.19%
130.74%

105.73%
129.91%
116.11%
113.25%
56.80%
156.21%
97.55%
110.25%
110.25%

113.19%
117.80%
118.46%
168.49%
96.16%
62.77%
232.46%
151.24%
105.88%

21.81%
75.80%
99.55%

21.97%
75.39%
97.35%

103.67%

109.08%

Liquidity Measurement Ratios


Glaxo Smith Kline (GSK)
For
2010, 2011, 2012
2010
Definition:

Current Ratio

Current Assets
Current Liabilities

2.71

Quick Ratio

Total quick assets


Current Liabilities

1.50

Current Liabilities to
Inventory Ratio

Current Liabilities
Inventory

0.83

Cash Ratio

Total cash assets


Current Liabilities

0.79

Average Inventory
Processing Period (AIPP)

365 Days
Inventory Turnover Ratio

115.84

Average Recivable
Collection Period (ARCP)

365 Days
Recivable Turnover Ratio

5.60

Averagepayable Payment
Period (APPP)

365 Days
Payable Turnover Raito

5.71

Cash Conversion Cycle

AIPP + ARCP - APPP

3.00
2.71
2.48

115.73

2.48

2.50

2.00

1.50
1.50

1.03
1.00

0.83

0.79
0.69
0.55

0.50

0.00

2010

2011

140.00
120.00

115.84

115.73

113.58

113.18

100.00
80.00
60.00
40.00
20.00
5.60

5.71

5.37

5.76

0.00
2010

2011

asurement Ratios
th Kline (GSK)
For
2011, 2012
2011

2012

9,660,600.00
3,560,293.00

2.48

9,616,883.00
3,881,011.00

2.27

9,404,169.00
4,151,055.00

5,348,065.00
3,560,293.00

1.03

4,014,357.00
3,881,011.00

1.04

4,323,949.00
4,151,055.00

3,560,293.00
4,312,535.00

0.69

3,881,011.00
5,602,526.00

0.82

4,151,055.00
5,080,220.00

2,808,772.00
3,560,293.00

0.55

2,128,926.00
3,881,011.00

0.51

2,117,626.00
4,151,055.00

365
3.15

113.58

365
3.21

114.22

365
3.20

365
65.22

5.37

365
68.01

6.92

365
52.77

365
63.95747594

5.76

365
63.33690638

5.52

365
66.07441446

Days

113.18

Days

115.61

Days

Current Ratio

Current Ratio
2.27

Quick Ratio

Current Liabilities to
Inventory Ratio

1.04
0.82
0.51

Cash Ratio

2012

115.61

114.22

Average Inventory Processing Period (AIPP)

Average Recivable Collection Period (ARCP)

Averagepayable Payment Period (APPP)

Cash Conversion Cycle


6.92

5.52

2012

Profitability Indicator R
Glaxo Smith Kline (GS
As of 31st December 2010, 2
Rs. in Rupees
Definition:

2010

Return on Assets Ratio

Net Income
Total Assets

7.10%

Return on Equity Ratio

Net Income
Owners' Equity

9.79%

Gross Profit
Net Sales

25.66%

Gross Profit Margin


Ratio

Operating Profit Margin


Ratio

Operating Profit
Net Sales

10.32%

Net Profit Margin Ratio

Net Income
Net Sales

5.59%

Basic Earnings Power


Ratio

Earnings Before Interest and Taxes


Total Assets

13.11%

30.00%
26.75%
25.66%
25.00%

20.00%

14.73%

15.00%

13.11%
9.79%

10.00%

10.32%

10.27%

10.45%

7.39%

7.10%
5.59%

5.25%

5.00%

0.00%

2010

2011

Indicator Ratios
th Kline (GSK)
mber 2010, 2011, 2012
n Rupees
2011

2012

1,057,383.00
14,891,799.00

7.39%

1,140,916.00
15,437,585.00

8.13%

1,320,096.00
16,243,325.00

1,057,383.00
10,799,814.00

10.27%

1,140,916.00
11,108,572.00

11.51%

1,320,096.00
11,471,591.00

4,852,949.00
18,916,191.00

26.75%

5,818,419.00
21,750,147.00

26.27%

6,081,015.00
23,149,964.00

1,951,750.00
18,916,191.00

10.45%

2,273,414.00
21,750,147.00

10.19%

2,359,608.00
23,149,964.00

1,057,383.00
18,916,191.00

5.25%

1,140,916.00
21,750,147.00

5.70%

1,320,096.00
23,149,964.00

1,951,750.00
14,891,799.00

14.73%

2,273,414.00
15,437,585.00

14.53%

2,359,608.00
16,243,325.00

26.27%

Return on Assets Ratio

Return on Equity Ratio

Gross Profit Margin Ratio

Gross Profit Margin Ratio


14.73%

14.53%
11.51%

Operating Profit Margin


Ratio

10.19%
8.13%
5.70%

Net Profit Margin Ratio

Basic Earnings Power Ratio

2012

Debt R
ABB
Fo
2010, 20
Definition:

Total Debt Ratio

Interest Coverage Ratio

Total Liabilities
Total Assets

27.48%

Earnings Before Interest and Taxes


Interest Expense

97.46%

Capitalization Ratio

Long-Term Debs
Long-Term Debs + Owners' Equity

0.11%

Debt/Equity Ratio

Total Debts
Owners' Equity

0.05

120.00%

97.46%

100.00%

80.00%
62.24%
60.00%

40.00%
28.04%

27.48%
20.00%
0.05
0.11%
0.00%

0.11%

0.11%

0.11%

0.00%

2010

2011

Debt Ratios
ABBOT
For
2010, 2011, 2012,
2010

2011

11,871.00 +

4,091,985.00
14,891,799.00

28.04%

4,329,013.00
15,437,585.00

29.38%

1,951,750.00
2,002,600.00

62.24%

2,273,414.00
3,652,600.00

49.66%

11,871.00
10,799,814.00

0.11%

11,780.00
11,108,572.00

0.15%

531,692.00
10,799,814.00

0.04

448,002.00
11,108,572.00

0.05

11,780.00 +

Total Debt Rat

Interest Cover
Ratio
Capitalization
49.66%

Debt/Equity R

29.38%

0.11%

0.04

0.05
0.15%

0.11%

2011

0.15%

2012

2012
4,771,734.00
16,243,325.00

2,359,608.00
4,751,200.00

16,761.00 +

16,761.00
11,471,591.00

620,679.00
11,471,591.00

Total Debt Ratio


Interest Coverage
Ratio
Capitalization Ratio
Debt/Equity Ratio

Operating Performance Ratio


Glaxo Smith Kline (GSK)
For
2010, 2011, 2012
Definition:
1

2010

Inventory Turnover Ratio =

Cost of Good Sold


Average Inventory

3.15

Recivables Turnover
Ratio

Total Sales
Account Recivale

65.22

Debtors Turnover Ratio

Total Sales
Trade Debt

63.96

Fixed Assets Turnover


Ratio

Total Sales
Property Plant and Equipment

4.51

Total Assets Ratio

Total Sales
Total Assets

1.27

Total Assets
Owners' Equity

1.30

1.41

1.43

Asset to Equity Ratio

80.00
70.00

68.01

65.22 63.96

63.34

60.00
50.00
40.00
30.00
20.00
10.00

3.15

4.51

1.27

1.30

3.21

4.56

10.00

3.15

4.51

1.27

1.30

3.21

4.56

0.00

2010

2011

1.41

1.43

rformance Ratios
th Kline (GSK)
For
2011, 2012
2011

2012

14,063,242.00
4,463,167.00

3.21

15,931,728.00
4,957,530.50

3.20

17,068,949.00
5,341,373.00

18,916,191.00
290,056.00

68.01

21,750,147.00
319,800.00

52.77

23,149,964.00
438,674.00

18,916,191.00
295,762.00

63.34

21,750,147.00
343,404.00

66.07

23,149,964.00
350,362.00

$18,916,191
$4,189,996

4.56

$21,750,147
$4,771,175

4.00

$23,149,964
$5,784,694

18,916,191.00
14,891,799.00

1.41

21,750,147.00
15,437,585.00

1.43

23,149,964.00
16,243,325.00

14,063,242.00
10,799,814.00

1.43

15,931,728.00
11,108,572.00

1.49

17,068,949.00
11,471,591.00

66.07
52.77

Inventory Turnover Ratio


Recivables Turnover Ratio
Debtors Turnover Ratio
Fixed Assets Turnover Ratio
Total Assets Ratio
Asset to Equity Ratio

1.43

3.20

4.00

1.43

1.49

1.43

3.20

4.00

2012

1.43

1.49

Investment Valuation Rati


Glaxo Smith Kline (GSK
For
2010, 2011, 2012, 2013
Profitability Ratios

2010

Definition:

Price/Sales Ratio

Stock Price Per Share


Net Sales per Share

148.51

Dividend Yield

Annual Dividend per Share


Stock Price per Share

0.05

Stock Price Per Share


Total Assets-Intangible Assets-Liabilities

0.00

Stock Price per Share


Earnings per Share

20.00

Price/Book Value Ratio =

Price/Earnings Ratio

45
39.75193628

40
35
30
25
20

14.04022471

15
10
5
0

9.20242915
7.315589354
2.287752675
0.025156007

2.696322657
0.071223931

2.287752675
0.074257733

0.025156007

0.071223931

2010

2011

0.074257733

Valuation Ratios
mith Kline (GSK)
For
011, 2012, 2013
2011

2012

$88.42
$0.60

813.29

$73.93
$0.09

833.47

$73.31
$0.09

$4.00
$88.42

0.05

$4.00
$73.93

0.05

$4.00
$73.31

$88.42
9,844,072

0.00

$73.93
10,152,830

0.00

$73.31
10,515,849

$88.42
$4.42

15.50

$73.93
$4.77

14.60

$73.31
$5.02

Price/Sales Ratio

Dividend Yield

Price/Book Value Ratio


13.46661096

12.73890518
9.20242915

7.315589354

287752675
0.074257733

Price/Earnings Ratio
2.696322657
0.078499682

0.074257733

0.078499682

2012

2013

SUMMARY OF RATIOS
Glaxo Smith Kline (GSK)
For
2010, 2011, 2012, 2013
2010
2011
Ratios Name
Liquidity Measurement Ratios

S.No
1
2
3
4
5
6
7
8

Current Ratios

Quick Ratio
Current Liabilities to Inventory Ratio
Cash Ratio
Average inventory processing period (AIPP)
Average receivable collection period (ARCP)
Average payables payment period (APPP)
Cash Conversion Cycle Days

1.72
1.19
2.47
0.60
50
65
14
101

1.45
1.40
2.98
0.56
56
76
26
107

2012

2013

Average

1.25
0.80
3.33
0.49
50
62
28
84

1.08
0.74
3.88
0.39
50
57
33
74

1.38
1.03
3.17
0.51
52
65
25
91

11.42%
54.27%
70.13%
13.55%
17.27%
18.61%
$ 2.86

14.11%
72.19%
67.61%
27.61%
20.51%
19.14%
$ 3.57

10%
50%
71%
21%
16%
17%
2.66

0.77
9.98
0.64
1.78

0.79
10.16
0.67
2.39

0.77
9.15
0.63
1.90

7.28
5.91
13.05
3.09
0.66
4.75

7.30
6.37
11.01
3.23
0.69
5.11

7.11
5.67
16.04
3.05
0.68
4.78

2.29
7.43%

2.70
7.85%

2.49
6.23%

Profitability Indicator Ratios


1
2
3
4
5
6
7

Return on Assets Ratio


Return on Equity Ratio
Gross Profit Margin Ratio
Operating Profit Margin Ratio
Net Profit Margin Ratio
Basic Earnings Power Ratio
Earnings per Share Ratio

1
2
3
4

Total Debt Ratio


Interest Coverage Ratio
Capitalization Ratio
Debt/Equity Ratio

1
2
3
4
5
6

Inventory Turnover Ratio


Receivables turnover Ratio
Payables turnover Ratio
Fixed Assets Turnover Ratio
Total Assets Turnover Ratio
Asset to Equity Ratio

4.37%
21.69%
73.26%
13.32%
5.76%
10.49%
$ 0.97

11.80%
50.53%
73.23%
28.51%
19.21%
18.93%
$ 3.24

Financial Leverage Ratio


0.79
5.11
0.66
2.00

0.75
11.35
0.54
1.43

Operating Performance Ratios


7.37
5.60
25.92
3.09
0.76
4.97

6.48
4.80
14.19
2.81
0.61
4.28

Investment Valuation Ratios


1 Price/Sales Ratio
2 Dividend Yield

2.29
2.52%

2.70
7.12%

3 Price/Book Value Ratio


4 Price/Earnings Ratio

7.32
39.75

9.20
14.04

7.32
13.47

9.20
12.74

8.26
20.00

Dupont Analysis
ABBOT
As of 31st December 2010, 2011, 2012
USD RS. in Rupees
ABBOT
Return On Equity (ROE)
Net Income (NI)
Total Asset (TA)
Average Total Asset (Avg TA)
Shareholder Equity (ShEq)
Average Shareholder Equity (Avg ShEq)
Revenue (Rev)
Earnings before Taxes (EBT)
Earnings before Interest and Taxes (EBIT)
Formula:
DuPont is an analysis its a tool to compare a company to itself and to its competitors.
1. ROE
= (NI / Avg TA) x (Avg TA / Avg ShEq)
= ROA x Leverage
2. ROE
= (NI / Rev) x (Rev / Avg TA) x (Avg TA / Avg ShEq)
= Net Profit Margin x Asset Turnover x Leverage
3. ROE
= (NI / EBT) x (EBT / EBIT) x (EBIT / Rev) x (Rev / Avg TA) x (Avg TA / Avg ShEq)
= Tax Burden x Interest Burden x EBIT Margin x Asset Turnover x Leverage
Where:
ROE = Return on Equity
NI = Net Income
Avg TA = Average Total Assets
Avg ShEq = Average Shareholder Equity
Rev = Revenue
EBT = Earnings before Taxes
EBIT = Earnings before Interest and Taxes

ABBOT

Return On Equity (ROE)


Tax Burden
Interest Burden
EBIT Margin
Asset Turnover
Laverage
ROE
Abbot has strong ROE over the 3-years. The range is between 22% and 31%.
This range is a bit large, but is on the high side and the low is far above the 09% requirement.

is

, 2011, 2012
ees
Dec 31, 2010
21.69%
#REF!
14,891,799
4,020,700
10,799,814
2,515,112
18,916,191
1,931,724
#REF!

Dec 31, 2010

Dec 31, 2011


50.53%
#REF!
15,437,585
6,597,875
11,108,572
4,549,361
21,750,147
2,236,888
#REF!

Dec 31, 2011

Dec 31, 2012


11.42%
#REF!
16,243,325
8,367,595
11,471,591
5,946,788
23,149,964
2,312,096
#REF!

Dec 31, 2012

#REF!
#REF!
#REF!
#REF!
4.70470
1.59862

#REF!
#REF!
#REF!
#REF!
3.29654
1.45029

#REF!
#REF!
#REF!
#REF!
2.76662
1.40708

Balance Sheet
Glaxo Smith Kline (GSK)
As of 31st December 2010, 2011, 2012
Rs. in (000)
Description

Dec 31, 2010

Dec 31, 2011

Dec 31, 2012

Cash Flow From Operating Activities


cash genrated from operations
financial charges pad
staff retirement benefit paid
taxes paid
increase in long term loans to employees
decrease in long term deposits
net cash generated from operating activities

3647883
-2369 -53016
-1147359
-12291
476
2433324

1402378
-205481
-1061460
-8415
91
127113

Cash Flow From Investing Activities


fixed capital expenditure
proceeds from sale of operating assets
investimetns encashed
return on investiments PIBS
net cash used in investing activities

-789884
34278
16275
-739331

-834597
93840
175000 7945 -557812

-849019

-782165

-900008

844974

-1212864

-9888

2693522
3538496

3538496
2325632

2325632
2315744

-1497581
152891

-1344690

Cash Flow From Financing Activities


Dividend Paid
Net(decrease)/Increase in cash and cash equivalents
cash and cash equivalents at beginning of the year
cash and cash equivalents at end of the year