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A Project Report On Company Analysis: Blue Star
A Project Report On Company Analysis: Blue Star
ANALYSIS
BLUE STAR
Submitted by
M.samatha
082E1E0041
In partial fulfillment of
MBA II SEMESTER
2008-2009
Submitted to
Department of Business Management
VAAGESWARI INSTITUTE
OF
MANAGEMENT SCIENCES
Beside LMD Police Station, Thimmapoor, Karimnagar- 505 481
CERTIFICATE
This
is
to
certify
that
Mr./Ms.-------------------------------------------,
Roll No: ------------------------------------------------------ of MBA
II
SEMESTER,
During
the
academic
year:
report
------------------------------------------------as
university norms.
on
per
the
Guide
HOD
Principal
DECLARATION
ACKNOWLEDGEMENT
CONTENTS
CHAPTER 1
Introduction
Sector introduction
Objectives of the study
Limitations of the study
Data Collection Methods
CHAPTER 2
Company profile
CHAPTER 3
Ratio analysis
Introduction on Ratio Analysis
Importance & Limitations of Ratio Analysis
CHAPTER 4
Analysis & Interpretation
CHAPTER 5
Conclusions & Suggestions
Bibliography
INTRODUCTION:
Blue Star was founded in 1943, by Mohan T Advani, an entrepreneur of exemplary vision
and drive. The Company began as a modest 3-member team engaged in reconditioning of
airconditioners and refrigerators.
Within three years, the Company secured the agency for US-based Melchoir Armstrong
Dessau's airconditioning equipment. Shortly after, the Company was selected by
Washington, the US leader in airconditioning, as its India based partner - these were the
first of numerous foreign associations to follow.
An expanding Blue Star then ventured into the manufacture of ice candy machines and
bottle coolers and also began the design and execution of central airconditioning projects.
Then came the manufacture of water coolers. In 1949, the proprietorship company set its
sights on bigger expansion, took on shareholders and became Blue Star Engineering
Company Private Limited.
Ever since, there has been a constant and profitable growth. Blue Star diversified and
took up agencies for Material Testing Machines and Business Machines. The export arena
beckoned and the Company began exporting water coolers to Dubai, where in fact, 'Blue
Star' soon became the generic name for water coolers.
The sixties and the early seventies witnessed Blue Star continuing to expand and thrive. A
team of dedicated professionals aided Mohan T Advani in ever furthering his vision of a
profitable company dedicated to its ideals of professionalism and success. Employee
strength crossed the 1000 mark and the company went public in 1969 to become Blue
Star Limited, as it continues to be called today.
In 1970, the Company took up the all-India distributorship of Hewlett-Packard products,
a business relationship which continues today and has grown ever stronger through the
years. As the Company's reputation for delivering the goods in the most challenging of
airconditioning projects grew steadily, the early seventies saw a series of prestigious
projects being entrusted to Blue Star - skyscrapers such as Air India Building, Express
Towers, the Oberoi Hotel in Mumbai, apart from several others. Revenues touched the
Rs. 10-crore mark and staff strength doubled to exceed 2000.
As its Indian presence reached greater heights, the Company began building determinedly
upon its existing overseas presence, Blue Star set up a joint venture with Al Shirawi in
Dubai and went on to execute some outstanding projects in Syria, Iraq and Saudi Arabia.
To complement its airconditioning projects and undertake turnkey industrial projects, an
Industrial Division was set up in 1978.
Always moving with the times and ever on the lookout for business possibilities, Blue
Star next set up a software export unit at Seeps, Mumbai in 1983. Then came associations
with more global leaders - a collaboration with York International of USA for central
airconditioning equipment and joint ventures with Motorola and Yokogawa.
In 1984, Ashok M Advani & Suneel M Advani, the sons of Mohan T Advani, took over
the reins of the Company, after spending nearly 15 years within the Company steadily
climbing up the ladder. A renewed thrust was placed on the company's core business
areas - airconditioning and refrigeration and the distribution of professional electronics
equipment - and the company emerged a market leader in these focus areas.
The nineties witnessed India entering an era of economic liberalisation and an upsurge in
competition as the dynamic business scenario attracted the world's most forward-looking
corporations. It was time to re-look at existing business competencies, re-engineer those
that were obsolete and forge ahead in acquiring new business competencies. Blue Star
was more than equal to the challenge and expansion continued unabated.
In keeping with this focus, an advanced manufacturing facility was set up at Dadra in
1997, in technical collaboration with Rheem , USA, to enhance manufacturing
competency. Today it bears the distinction of being regarded as the best such plant Indiawide. The dealer network was strengthened and expanded to bring products within easy
reach of every customer.
With the advent of the much awaited new millennium in 2000, the action continued. The
software unit was spun off into a separate company, Blue Star Infotech Ltd., the export of
airconditioning products from the Dadra factory began and contract manufacturing for
local and foreign brands commenced. A new Corporate Vision was developed - "To
deliver a world-class customer experience". Every employee is determined to follow this
vision and keep their organization a competitive and forward-looking one.
Blue Star crossed the Rs. 500crore milestone in 2000 and the Rs. 600 crore milestones in
2002-03. With the boom in construction activity and increased infrastructure investments,
the Company leveraged its leadership position to grow aggressively. In the following
three years, the Company nearly doubled its turnover, clocking Rs 1178crores in 2005-06.
Even more than size, Blue Star enjoys an enviable reputation as an ethical corporation,
ever mindful of its obligations towards customers, shareholders, dealers, business
partners,
employees
and
the
environment
in
which
it
operates.
COMPANY PROFILE:
Blue Star is India's largest central airconditioning company with an annual turnover of Rs
2574 crores, a network of 29 offices, 5 modern manufacturing facilities, 700 dealers and
around 2600 employees.
It fulfills the airconditioning needs of a large number of corporate and commercial
customers and has also established leadership in the field of commercial refrigeration
equipment ranging from water coolers to cold storages. The Company has also started
offering Electrical Contracting and Plumbing & Fire Fighting Services. Blue Star's other
businesses include marketing and maintenance of hi-tech professional electronic and
industrial products.
Blue Star has business alliances with world renowned technology leaders such as Rheem
Mfg Co, USA; Hitachi, Japan; Eaton - Williams, UK; Thales e-Security Ltd., UK; Jeol,
Japan; ISA, Italy and many others, to offer superior products and solutions to customers.
The Company has manufacturing facilities at Thane, Dadra, Bharuch, Himachal and
Wada which use state-of-the-art manufacturing equipment to ensure that the products
have consistent quality and reliability.
Blue Star primarily focuses on the corporate and commercial markets. These include
institutional, industrial and government organizations as well as commercial
establishments such as showrooms, restaurants, banks, hospitals, theatres, shopping malls
and boutiques. In accordance with the nature of products and markets, business drivers,
and competitive positioning, the lines of business of Blue Star can be segmented as
follows:
1943
1946
1947
Worthington selects Blue Star as Indian Partner. Manufacturing of ice candy machines and
bottle coolers begins. Central airconditioning system design and execution begins
1948
1949
1954
1955
1957
Perkin-Elmer tie-up marks the start of the electronics business. GDR business machines
agency commences
1960
1962
1964
1965
1969
1970
1972
First skyscrapers of Mumbai Air India Building, Express Towers and Oberoi Hotel set-up
all airconditioned by Blue Star
1972
1974
1977
Middle East thrust begins. Joint Venture (JV) with Al Shirawi in Dubai
1977
1978
1980
1984
1985
1986
1987
1987
1988
1988
1988
1989
1990
1992
1992
1993
1995
1997
1998
1999
2000
International Software business spun off to form Blue Star Infotech, listed on stock
exchanges
2001
2003
2005
2006
2006
2007
2008
Blue Star powers into Building Electrification. Acquires Naseer Electricals, a leading
Electrical Contractor
2008
Cooling Products:
Blue Star offers a wide range of contemporary window and split airconditioners. The
Company also manufactures and markets a comprehensive range of commercial
refrigeration products and services that cater to the industrial, commercial and hospitality
sectors. These include water coolers, bottled water dispensers, deep freezers, cold
storages, bottle coolers, ice cube machines and supermarket refrigeration products.
For over five decades, the Electronics Division has been the exclusive distributor in India
for many internationally renowned manufacturers of hi-tech professional electronic
equipment and services, as well as industrial products and systems. The Company has
carved out profitable niches for itself in most of the specialized markets it operates in,
such as analytical instruments, medical electronics, data communication products,
material
testing,
and
test
and
measuring
instruments
Comply with the requirements of all relevant statutory, regulatory and other
provisions.
Create and promote safety awareness to protect all stake holders from foreseeable
work hazards and risks through campaigns and training programmes among
employees, business associates and clients.
Work with major suppliers, business associates and customers to facilitate their
safety performance improvement and also make it obligatory for them to follow
the project site safety rules, procedures, systems and safe practices.
Ensure that appropriate resources are available to fully implement the Safety
Policy and continuously review the policy's relevance with respect to legal and
business development.
The management sincerely believes that safety related incidents are preventable by
coordinated team effort of all stakeholders and through shared individual responsibility at
all levels for safety issues thereby aiming to achieve continuous improvement and overall
success of our safety program.
Ashok
Chairman & Managing Director
Advani.
Environment protection
Energy conservation
Community development around its facilities.
The Company is highly committed to the cause of protecting the environment. Energy
efficiency of its products remains a corner-stone of its research and development efforts
Air, water and energy management services as well as LEED (Leadership in Energy and
Environmental Design) consultancy for Green Buildings have been part of its business
and practices. The Company has also been contributing in the technical domain in the use
of eco-friendly refrigerants in its products.
Energy Conservation goes beyond using efficient products. A huge amount of energy is
wasted nationally due to sheer ignorance and lack of awareness. Blue Star helps
deserving institutions such as hospitals and colleges to save power by conducting free
walk-through energy audits. The Company has conducted several such audits with energy
recommendations for Jai Hind College, St Xaviers College, Nirmala Niketan College of
Social Work, National Association for the Blind (NAB), Bombay Natural History Society
(BNHS), JJ School of Architecture and Dilkhush Special School, amongst others.
In its efforts towards community development around the Companys facilities, the
Company has initiated and sponsored a study in the villages around its Wada Plant to
understand the immediate needs. Vocational training and health emerged as pressing
needs in this underdeveloped region. Blue Star has sponsored the vocational training
courses offered by an NGO, KSWA in Wada. This centre was set up to support a
vocational training initiative for school and college dropouts to make them employable
contributing members of their families and communities. Regular visits by the
Companys employees have aided in technical support to KSWA for conducting the
courses.
In addition to the above CSR efforts, the Company sponsors various philanthropic
activities through its Trust, Blue Star Foundation, which has been supporting several
activities in the areas of children education and healthcare apart from relief measures in
national calamities.
BOARD
OF
DIRECTORS:
Managing Director.
T Gouri Sankara Babu - Deputy Managing Director
T Gouri Sankar Babu is an Engineering Graduate from IIT Madras and has done his MBA from
IIM Ahmedabad. He has been working with Blue Star from 1977 in various positions, except for a
four-year period when he worked with MRF Ltd as GM Sales.
Babu was promoted to Executive Director in 2000 and Deputy Managing Director in 2007. He
oversaw the channel business activities of the Company including packaged airconditioning, room
airconditioners, commercial refrigeration products and systems as well as human resources. With
effect from July 1, 2009, he has relinquished his operating role and is responsible for special
corporate developmental assignments.
T Gouri Sankara Babu has been the President of RAMA and is actively involved in other trade
associations.
SHAILESH HARIBHAKTI - Director
Shailesh Haribhakti is a Fellow member of the Institute of Chartered Accountants of India. He is
also a Graduate Cost Accountant, Certified Internal Auditor, Certified Fraud Examiner and
Certified Financial Planner. He joined M/s. Haribhakti & Co, Chartered Accountants, Mumbai as
Deputy Managing Partner in 1978 and is currently its Managing Partner.
Shailesh joined the Board of Blue Star in 2005. In addition to Blue Star, he is also on the Boards of
several leading companies such as Ambuja Cement, Akruti, ACC and Pantaloon amongst others.
He has been associated with several institutions and trade associations such as Indian Merchants'
Chamber, Institute of Internal Auditors, Bombay Management Association, ASSOCHAM, Western
India Regional Council of ICA and NMIMS. In addition, he is empanelled as an Arbitrator by the
Indian Council of Arbitration.
PRADEEP MALLICK - Director
Pradeep Mallick is a B.Tech from IIT Madras and Diploma holder in Business Management from
UK. He is also a Chartered Engineer and Fellow of the Institution of Engineering & Technology,
London. Pradeep was the Managing Director of Wartsila India Limited from 1988 to 2003, prior to
which he worked with several leading Companies in the field of electrical power transmission and
distribution. He joined the Board of Blue Star in 2003.
Pradeep is also on the Boards of several other leading Companies including Elantas Beck India,
ESAB India, Mount Everest Mineral Water and Tube Investments of India. In addition, he is
associated with Industry Associations such as Confederation of Indian Industry, Bombay Chamber
of Commerce & Industry and social organizations like Population First.
GURDEEP SINGH - Director
Gurdeep Singh is a Chemical Engineering Graduate from IIT Delhi. After his graduation, he joined
Hindustan Lever Limited as a Management Trainee. He held various responsible positions in the
Company before he was expatriated to Brazil as Technical Director of Unilever Detergents
business. In 1998, Gurdeep returned to Hindustan Lever as the Director - Human Resources and
Corporate Affairs. He retired as Senior Vice President - Corporate Affairs in April 2006. He joined
the Board of Blue Star in 2003. He is also on the boards of Halonix, Perfect Circle and Technova
India.
SURESH N TALWAR - Director
Suresh N Talwar is a Commerce and Law graduate and a solicitor and Partner of M/s Talwar,
Thakore & Associates, Mumbai. Before setting up this firm in April 2007, he was the Senior
Partner of Crawford Bayley & Company. He joined the Board of Blue Star in 1986. In addition to
Blue Star, he is also on the Boards of several leading companies such as Merck, Cadbury India,
Larsen & Toubro, Greaves Cotton, Sandvik Asia, ESAB India, Johnson & Johnson, Uhde India and
Wyeth amongst others.
SENIOR
MANAGEMENT:
Ashok M Advani
Executive Chairman
Suneel M Advani
Satish Jamdar
Managing Director
T G S Babu
Vir S Advani
Avinash Pandit
B Thiagarajan
J M Bhambure
A S Dawood
R Aravindan
Sumanta
Chaudhuri
R G Devnani
Harish Govind
A Rakesh Rao
P Venkat Rao
D P Singh
K P Sukumar
K P T Kutty
Company Secretary
Ashok M Advani
Executive Chairman
Suneel M Advani
Satish Jamdar
Managing Director
T G S Babu
Vir S Advani
Avinash Pandit
B Thiagarajan
J M Bhambure
A S Dawood
R Aravindan
Sumanta
Chaudhuri
R G Devnani
Harish Govind
A Rakesh Rao
P Venkat Rao
D P Singh
K P Sukumar
K P T Kutty
Company Secretary
Ashok M Advani
Executive Chairman
Suneel M Advani
Satish Jamdar
Managing Director
T G S Babu
Vir S Advani
Avinash Pandit
B Thiagarajan
J M Bhambure
A S Dawood
R Aravindan
Sumanta
Chaudhuri
R G Devnani
Harish Govind
A Rakesh Rao
P Venkat Rao
D P Singh
K P Sukumar
K P T Kutty
Company Secretary
VISION:
Achievements
Blue Star Infotech has been delivering services to clients in USA, Europe and South Asia for
over two decades with several client engagements exceeding 5 years. It has a number of firsts to
its credit:
Named to the Microsoft Dynamics Presidents Club for the year 2006 and 2008
Microsoft awarded Blue Star Infotech with the "Best Dynamics Partner of the Year" in India for
financial year 2006
Oracle India awarded "Oracle Partner of The Year" award to Blue Star Infotech for Customer
Centricity in applications for the year 2006 - 2007
Blue Star Infotech is amongst the first six companies globally to be certified for CMMi Level 3
Quality Standard
Blue Star Infotech is one of the first companies to employ an Extended Office model for
development and support of business applications world-wide for a Fortune 10 Global Computer
company
Blue Star Infotech is amongst the few IT service providers to be certified for both CMMi and
Overview Clients :
Any country's progress depends on its educational system. Educational and research
institutions like IIMs and the IITs are today the most reputed and respected Indian
institutions of learning. These institutions have different requirements. Apart from world
class infrastructure, they are required to provide comfort and at the same time low-noise
ambience in lecture/seminar/conference halls. The laboratories require proper ventilation;
the computer centers require close control on temperature, humidity, and dust level and
air movement.
Blue Star is the only organization in India to offer a holistic solution for such
requirements. Blue Star has an exhaustive product range to meet the exacting
requirements. The machines are also uniquely designed to deliver full capacity even
during peak Indian Summers.
500067
Exchanges:
BOM
2009 Sales:
n/a
Major Industry:
Electrical
Sub Industry:
Country:
INDIA
Employees:
2565
Business
Description
Blue Star Limited. The Company's principal activities are to manufacture air conditioning machines and refrigeration
equipments. The Company operates in three segments, namely, Central air conditioning systems, Cooling products,
Professional electronics and individual systems. The Central air conditioning and Systems segment includes central air
conditioning projects and packaged air conditioning businesses including manufacturing and after sales service. The
Cooling products segment consists of cooling appliances, cold storage products, including manufacturing and after sales
service. The Professional electronics and industrial systems segment includes trading and services for testing machines,
medical, analytical, test and measuring, data communications, industrial products and systems. The Company's plants are
located in Maharashtra, Dadra&Nagar Haveli and Himachal Pradesh. During the year, the Company discontinued the
manufacture of energy inefficient reciprocating chillers
INTERNATIONAL:
Blue Star's International Projects division provides solutions for specialized as well as
comfort applications.
Specialized applications would include pharmaceuticals, clean rooms, hospital operation
theatres, power plants, commercial cold storages, and medium / temperature refrigeration
for chemical and pharmaceutical plants.
The customer segments for comfort cooling encompass hospitals, hotels, restaurants,
airport terminals, residential complexes, banks, and shopping centres, commercial and
institutional buildings. We have a successful track record of projects in Mauritius, Saudi
Arabia, Kuwait, Abu Dhabi, Dubai and Malaysia among many other countries.
Blue Star offers a complete range of solutions for heating, ventilation, airconditioning
and refrigeration for industrial and comfort applications.
These include:
International Operations
Overview Clients :
Hospitality industry has to ensure, the guests who come to stay, have a cool and
comfortable stay.
Hotel airconditioning involves maintaining proper temperature, humidity, air flow, indoor
air quality, odor and noise levels. To present an acceptable level of ambience all the time,
the HVAC system has to work 24x7. At the same time there will be a lot swing in the
occupancy in the hotels depending on the season. Also on any given day, all the areas of
the hotel may not be occupied.
All this calls for a diligent understanding of the need of every client and come-up with a
solution, which meets the need. Blue Star Engineers design the system taking into
consideration all this and much more.
When systems are not fully loaded and they need to run 24x7, if we build with excess
redundancy, the initial cost will be prohibitive and operating cost of the property will
become exorbitantly high. While the systems are running for longer periods of time, there
is AC capacity fluctuation. There is a tremendous opportunity for energy saving. Blue
Star with its wealth of knowledge and expertise delivers value-for-money energy saving
options, more equipment to choose from, many varieties in system design and a proper
attitude to deliver the solution.
Blue Star with over 60 years experience in HVAC has put up hotel airconditioning
systems to exacting specifications so as to meet the cost expectations of the clients. Right
from heat load estimation to design and selection of equipments, laying them out, testing
and commissioning, it is done in the right way meeting the highest standards in the
industry
Ratio Analysis
Introduction to ratio analysis: -
Advantages:
Ratios bring out the inter relationship among various financial figures and bring to
light their financial significance.
Ratio analysis is a device to analyze and interpret the financial health of the
enterprise.
Limitations: -
Ratios may not prove to be the ideal tool for Inter-firm comparisons. The two
firms may adopt different accounting policies. So the results may not be
comparable.
Ratios are depends upon the original data base. If the original data base is not
correct then the ratios will be misleading.
Ratios are based on the past data. They cant reliable guide to future performance,
as future is dependent on various aspects of business.
Ratios are violate and can be influenced by a single transaction with extreme
value.
Ratios are only indicators. They need a proper analysis by a capable management.
Classification: Ratios are classified in a number of ways, depending upon the basis of
classification. Those are as follows
1. Traditional Classification
2. Functional Classification
There are various types of ratios. The ratios are classified into various types.
Those are
1. Liquidity ratios
2. Leverage ratios
3. Turnover ratios
4. Profitability ratios
5. Activity ratios
in
Rs.
Mar '05
Mar '06
Mar '07
Mar '08
Mar '09
12 mths
12 mths
12 mths
12 mths
12 mths
Sales Turnover
916.88
1,171.50
1,594.58
2,221.59
2,552.29
Excise Duty
0.00
0.00
0.00
0.00
0.00
Net Sales
916.88
1,171.50
1,594.58
2,221.59
2,552.29
Other Income
9.17
3.12
9.72
45.80
4.75
Stock Adjustments
26.96
28.60
26.85
56.39
-34.58
Total Income
953.01
1,203.22
1,631.15
2,323.78
2,522.46
Raw Materials
743.99
936.47
1,269.55
1,747.32
1,915.15
3.81
4.51
5.83
7.04
7.43
Employee Cost
72.55
88.28
123.16
154.81
182.73
1.30
1.59
2.37
2.19
2.31
49.84
62.28
81.67
105.05
107.69
Miscellaneous Expenses
13.56
19.33
25.95
37.78
38.42
0.00
0.00
0.00
0.00
0.00
Total Expenses
885.05
1,112.46
1,508.53
2,054.19
2,253.73
Mar '05
Mar '06
Mar '07
Mar '08
Mar '09
12 mths
12 mths
12 mths
12 mths
12 mths
Operating Profit
58.79
87.64
112.90
223.79
263.98
PBDIT
67.96
90.76
122.62
269.59
268.73
Interest
3.21
5.72
9.55
7.56
13.55
PBDT
64.75
85.04
113.07
262.03
255.18
Depreciation
12.42
15.99
20.90
21.97
25.88
0.00
0.00
0.00
0.00
0.00
52.33
69.05
92.17
240.06
229.30
Extra-ordinary items
0.26
0.03
0.42
0.14
8.95
52.59
69.08
92.59
240.20
238.25
Tax
13.28
20.19
21.42
66.11
57.93
39.16
48.90
71.18
174.09
180.29
141.05
175.99
238.98
306.87
338.59
Income
Expenditure
Cr.
Balance sheet:
Preference Dividend
0.00
0.00
0.00
0.00
0.00
Equity Dividend
17.99
21.58
26.98
62.96
62.96
2.56
3.03
3.94
10.70
10.70
899.36
Mar7.91
' 07
899.36
Mar
' 06
19.36
899.36
Mar20.05
' 05
179.87
179.84
Mar21.77
' 09
Mar27.19
' 08
100.00
120.00
150.00
350.00
350.00
Book Value
Owner's
fund (Rs)
82.71
96.23
23.72
29.34
40.86
17.99
17.99
17.99
17.98
17.99
349.50
245.92
195.34
155.09
130.79
Secured loans
22.52
36.29
39.05
40.57
35.91
Unsecured loans
1.08
0.25
50.00
35.30
1.37
Total
391.09
300.45
302.38
248.94
186.06
Gross block
332.87
272.94
231.17
198.09
164.21
144.92
134.84
116.73
100.95
87.28
Net block
187.95
138.10
114.44
97.14
76.94
Capital work-in-progress
24.79
18.09
2.41
11.09
7.28
Investments
4.38
4.57
5.30
5.18
5.18
1,148.71
1,017.39
629.02
481.70
369.83
975.34
879.12
451.04
349.42
277.57
173.37
138.27
177.98
132.28
92.25
0.60
1.42
2.25
3.26
4.42
Total
391.09
300.45
302.38
248.94
186.06
1.40
1.64
2.21
2.25
2.25
151.50
17.28
27.00
31.31
38.24
Contingent liabilities
47.70
123.12
Loan funds
Uses of funds
Fixed assets
Notes:
Number 1.8of
(Lakhs)
equity
sharesoutstanding 899.36
899.36
65.92
49.39
Debt Equity Ratio
899.36
179.84
41.14
179.87
1.6
From
1.4 Year To Year Class
Share
1.2
Of Authorized
Capital
2007
1
2008
Equity Share
29.74
17.99
23391015
4.68
2007
0.8
2008
Equity Share
29.74
89936105
17.99
0.6
2006
2007
Equity Share
29.741.13
17.99
1.54
17.99
89922000
17.98
0.4
2006
0.2
2005
0
2004
2007
0.69
2006
Equity Share
0.65
0.6 29.74
Equity Share 29.74
17.99
89936105
17.99
17.99
17987221
10
17.99
2005
2005
2004
17.99
2009
17.99
17987221
10
17.99
17987221
10
17.99
2003
Capital structure
Quarterly results in brief:
(Rs crore)
(Rs crore)