Cost of Cap

Cost of Debt

Interest Pre-Tax After Tax

Total Debt
Company Paid(` Cost of Tax rate Cost of
(` crores)
crores) Debt Debt

EID Parry 143.12 809.34 17.68% 30.00% 12.38%

Bajaj Hindusthan 757.19 6385.42 11.86% 30.00% 8.30%
Balrampur Chini Mills 75.6 1500.94 5.04% 30.00% 3.53%
Shree Renuka Sugars 331.01 3270.2 10.12% 30.00% 7.09%
Bannariamman Sugars 115.87 1389.78 8.34% 30.00% 5.84%

Cost of Cap
Cost of Debt

Interest Pre-Tax After Tax

Total Debt
Company Paid(` Cost of Tax rate Cost of
(` crores)
crores) Debt Debt

EID Parry 151.27 1602.11 9.44% 30.00% 6.61%

Bajaj Hindusthan 807.64 7258.49 11.13% 30.00% 7.79%
Balrampur Chini Mills 102.09 1612.62 6.33% 30.00% 4.43%
Shree Renuka Sugars 336.17 3150.64 10.67% 30.00% 7.47%
Bannariamman Sugars 92.84 1180.6 7.86% 30.00% 5.50%

Cost of Cap
Cost of Debt

Interest Pre-Tax After Tax

Total Debt
Company Paid(` Cost of Tax rate Cost of
(` crores)
crores) Debt Debt

EID Parry 196.16 1786.33 10.98% 30.00% 7.69%

Bajaj Hindusthan 1049.12 5585.71 18.78% 30.00% 13.15%
Balrampur Chini Mills 117.84 1348 8.74% 30.00% 6.12%
Shree Renuka Sugars 318.2 3375.7 9.43% 30.00% 6.60%
Bannariamman Sugars 61.92 1023.71 6.05% 30.00% 4.23%

Cost of Cap
Cost of Debt

Interest Pre-Tax After Tax

Total Debt
Company Paid(` Cost of Tax rate Cost of
(` crores)
crores) Debt Debt

EID Parry 136.68 1723.09 7.93% 30.00% 5.55%

Bajaj Hindusthan 599.17 7591.94 7.89% 30.00% 5.52%
Balrampur Chini Mills 143.87 1486.6 9.68% 30.00% 6.77%
Shree Renuka Sugars 367.1 1986.62 18.48% 30.00% 12.94%
Bannariamman Sugars 45.16 412.57 10.95% 30.00% 7.66%

Cost of Cap
Cost of Debt

Interest Pre-Tax After Tax

Total Debt
Company Paid(` Cost of Tax rate Cost of
(` crores)
crores) Debt Debt

EID Parry 64.43 789.71 8.16% 30.00% 5.71%

Bajaj Hindusthan 550.72 7063.19 7.80% 30.00% 5.46%
Balrampur Chini Mills 147.41 1715.88 8.59% 30.00% 6.01%
Shree Renuka Sugars 369.87 3985.86 9.28% 30.00% 6.50%
Bannariamman Sugars 50.78 425.67 11.93% 30.00% 8.35%
Cost of Capital (2015-2016)
Cost of Equity
CAPM Model
Market
Risk-free Risk Cost of Equity =
L D/E UL
Rate (Rf) Premium UL*(Rm-Rf) + Rf
(Rm-Rf)
7.46% 2.26% 1.27 0.63 0.88133 9.45%
7.46% 2.26% 1.33 2.71 0.45910 8.50%
7.46% 2.26% 1.2 1.22 0.64725 8.92%
7.46% 2.26% 1.18 2.61 0.41740 8.40%
7.46% 2.26% 1.08 1.51 0.52504 8.65%

Cost of Capital (2014-2015)

Cost of Equity
CAPM Model
Market
Risk-free Risk Cost of Equity =
L D/E UL
Rate (Rf) Premium UL*(Rm-Rf) + Rf
(Rm-Rf)
7.74% 2.29% 1.27 1.17 0.69819 9.34%
7.74% 2.29% 1.33 4.02 0.34872 8.54%
7.74% 2.29% 1.2 1.43 0.59970 9.11%
7.74% 2.29% 1.18 2.05 0.48460 8.85%
7.74% 2.29% 1.08 1.24 0.57816 9.06%

Cost of Capital (2013-2014)

Cost of Equity
CAPM Model
Market
Risk-free Risk Cost of Equity =
L D/E UL
Rate (Rf) Premium UL*(Rm-Rf) + Rf
(Rm-Rf)
8.81% 2.53% 1.27 1.40 0.64141 10.43%
8.81% 2.53% 1.33 2.18 0.52652 10.14%
8.81% 2.53% 1.2 1.11 0.67530 10.52%
8.81% 2.53% 1.18 2.53 0.42584 9.89%
8.81% 2.53% 1.08 1.07 0.61750 10.37%

Cost of Capital (2012-2013)

Cost of Equity
CAPM Model
Market
Risk-free Risk Cost of Equity =
L D/E UL
Rate (Rf) Premium UL*(Rm-Rf) + Rf
(Rm-Rf)
7.96% 3.31% 1.27 1.28 0.66983 10.18%
7.96% 3.31% 1.33 1.17 0.73117 10.38%
7.96% 3.31% 1.2 1.12 0.67265 10.19%
7.96% 3.31% 1.18 1.11 0.66404 10.16%
 7.96% 3.31% 1.08 0.44 0.82569 10.69%

Cost of Capital (2011-2012)

Cost of Equity
CAPM Model
Market
Risk-free Risk Cost of Equity =
L D/E UL
Rate (Rf) Premium UL*(Rm-Rf) + Rf
(Rm-Rf)
8.40% 3.10% 1.27 0.65 0.87285 11.11%
8.40% 3.10% 1.33 1.17 0.73117 10.67%
8.40% 3.10% 1.2 1.41 0.60393 10.27%
8.40% 3.10% 1.18 2.24 0.45950 9.82%
8.40% 3.10% 1.08 0.52 0.79179 10.85%
WD WE WACC

0.39 0.61 10.58%

0.73 0.27 8.35%
0.55 0.45 5.96%
0.72 0.28 7.45%
0.60 0.40 6.96%

WD WE WACC

0.54 0.46 7.87%

0.80 0.20 7.94%
0.59 0.41 6.36%
0.67 0.33 7.92%
0.55 0.45 7.09%

WD WE WACC

0.58 0.42 8.83%

0.69 0.31 12.20%
0.53 0.47 8.20%
0.72 0.28 7.53%
0.52 0.48 7.20%

WD WE WACC

0.56 0.44 7.58%

0.54 0.46 7.76%
0.53 0.47 8.38%
0.53 0.47 11.62%
 0.31 0.69 9.77%

WD WE WACC

0.39 0.61 8.98%

0.54 0.46 7.86%
0.59 0.41 7.78%
0.69 0.31 7.52%
0.34 0.66 10.00%
 2015-2016 2014-15 2013-14 2012-13
EID Parry 19,961,707 19,961,707 19,961,707 19,961,707
Bajaj Hindusthan
Balrampur Chini Mills
Shree Renuka Sugars
Bannariamman Sugars
2011-12
19,961,707