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Ultratech

2013
Operating Revenue 22705.00
Expenses 15504.00
Earnings Before Other Income, Interest, Tax and Depreciation (Operating Profit) 4675.00
Depreciation 945.00
Finance Costs 210.00
Other income 305.00
PBT 3825.00
Tax 1170.00
PAT 2655.00
100%
68%
21%
4%
1%
1%
17%
5%
12%

2014 2015 2016 2017
22803.00 25990.00 26947.00 27162.00
16462.00 18732.00 19082.00 18922.00
3818.00 4195.22 4627.34 4969.05
1052.00 1133.00 1297.00 1268.00
319.00 547.00 512.00 571.00
329.00 371.78 480.66 659.95
2776.00 2887.00 3299.00 3790.00
632.00 872.00 929.00 1162.00
2144.00 2015.00 2370.00 2628.00
100% 100% 100% 100%
72% 72% 71% 70%
17% 16% 17% 18%
5% 4% 5% 5%
1% 2% 2% 2%
1% 1% 2% 2%
12% 11% 12% 14%
3% 3% 3% 4%
9% 8% 9% 10%

JK Cements
2013 2014
Operating Revenue 2911.96 2795.84
Expenses 2620.01 2707.50
Earnings Before Other Income, Interest, Tax and Depreciation (Operating Profit) 560.01 374.90
Depreciation 128.25 133.97
Finance Costs 139.81 152.59
Other income 48.67 47.93
PBT 340.62 136.27
Tax 107.08 39.25
PAT 233.54 97.02
100% 100%
90% 97%
19% 13%
4% 5%
5% 5%
2% 2%
12% 5%
4% 1%
8% 3%

10 51.16 4128.57 100% 100% 100% 97% 98% 93% 14% 13% 16% 4% 4% 4% 7% 7% 6% 2% 1% 1% 5% 3% 7% 0% 1% 1% 5% 3% 6% .15 142.88 714.14 463.81 519.70 3249.2015 2016 2017 3357.18 159.64 51.16 4131.43 2.11 176.13 324.19 4420.23 38.59 164.32 259.92 103.74 265.81 64.09 219.36 4046.35 57.86 156.42 270.98 136.

Du Pont Analysis ROE = Profit Margin x Asset Turnover Ratio x Equity Multiplier.6 1.8 1.6 0.4 0.2 1 0. Three Factor Analysis Net profit Margin Asset turnover ratio Equity Multiplier (Financial Leverage) ROE Five Factor Analysis Operating Profit Margin Interest Impact Tax Impact Asset Turnover Ratio Equity Multiplier (Financial Leverage) ROE Five Factor Comparision 2 1.8 0.2 0 gi n ct ct tio ar pa pa a m Im rR ve t M s tI x ov e Le o fi re Ta rn l Pr te u c ia ng I n e tT an ati s Fi n er As r( Op ie ti pl ul y M t ui Eq 2013 2014 2015 2016 2017 .4 1.

11 2013 2014 2015 2016 2017 2017 0.15 0.72 0.77 1.68 1.10 0.72 0.67 0.87 EAT 2627.17 0.74 1.11 0.77 0.70 0.90 0. operating profit margin EBIT/sales 2013 2014 2015 2016 2017 Interest Impact EBT/EBIT 0.08 0.11 ve Factor Comparision ct tio e) E pa a rag RO Im rR e x ov e L ev Ta rn al u i tT a nc se in As r( F ie ti pl ul y M t ui Eq 13 2014 2015 2016 2017 .17 0.82 1.10 Tax Impact EAT/EBT 0.14 0.20 0.64 0.10 0.87 0.13 0.11 0.72 0.70 0.11 0.80 1.70 0.13 0.64 0.67 0.69 0.82 1.13 0.77 1.74 0.13 0.09 0.74 0.95 0.16 EBT 3776 0.68 1.84 0.74 1.70 EBIT 4361 0.80 1.72 0.

73 2144.16 2014.47 2655.43 3810 3434 3095 4035 .6959 2016 2015 2014 2013 3299 2887 2775 3825 2370.162199 0.865856 0.0.

55 0.10 0.90 3.06 0.5 0 gi n o e) ar ati ag rr e r tM ov e ev ro fi rn a lL p t u ci t t n Ne se na As Fi r( lie tip ul t yM ui Eq 2013 2014 2015 2016 201 .5 1 0.64 0.76 0.26 3.05 0.5 2 1.03 0.06 Three Factor Comparision 3.74 Equity Multiplier (Financial Leverage) 2.JK Cement 2013 2014 2015 2016 Three Factor Analysis Net profit Margin 0.08 0.03 Asset turnover ratio 0.14 0.29 ROE 0.5 3 2.30 2.

2017 0.14 Three Factor Comparision o e) E ati ag RO e rr e r ov ev rn a lL t u ci n na Fi r( lie tip ul t yM ui Eq 2013 2014 2015 2016 2017 .04 0.76 3.06 0.

18 0.77 2.65 Equity Multiplier (Financial Leverage) 2.13 0.60 0.54 0.52 0.23 1.5 1 0.73 2.09 0.17 3 Three Factor Analy 2.5 0 gi n o e) ar ati ag M e rr e r t ov L ev o fi rn al pr tu i t t nc Ne s e in a As F r( p lie u l ti M u i ty Eq 2013 2014 2015 2016 2 .07 0.17 0.67 2.87 ROE 0.06 0.5 2 1.Ramco 2013 2014 2015 2016 2017 Three Factor Analysis Net profit Margin 0.59 0.04 0.11 0.14 Asset turnover ratio 0.

729665 Three Factor Analysis o e) E ati ag RO e rr e r ov L ev rn al tu i e t a nc F in r( p lie u l ti M u i ty Eq 2013 2014 2015 2016 2017 .131252 0.06649 0.228627 2.76726 2.10537 0.59196 1. 2017 2016 2015 2014 2013 0.599189 0.672882 2.651205 0.037383 0.142256 0.536286 0.873281 2.515523 0.

04 0.17 ROE Comparisio 0.06 0.08 0.17 0.13 0.2 0.18 0.11 JK Cement 0.02 0 2013 2014 2015 Ul tratech Cement JK Ceme .17 0.14 Ramco 0.06 0.Final ROE Comparision of both companies ROE 2013 2014 2015 2016 2017 Ultratech Cement 0.14 0.06 0.12 0.1 0.11 0.18 0.10 0.16 0.10 0.14 0.09 0.06 0.

ROE Comparision 2014 2015 2016 2017 Ul tratech Cement JK Cement Ramco .

Ratio Ratios 1 Net Profit Comparison Liquidity 2 Current Ratio Ratios 3 Quick Ratio 4 Leverage Ratio Solvency 5 Times Interest Earned Ratios 6 Debt/Equity Ratio 7 Return on Invested Capital 8 Return on Equity 9 Earnings per share Profitability 10 Price/ Earnings Ratio Ratios 11 Gross Profit Margin 12 Net Profit Margin 13 Return on Asset Before Tax 14 Total Asset Turnover Ratio Activity 15 Inventory Turnover Ratios 16 Invested capital turnover 17 Working capital turnover .

41% 13.12% Net Income/ Shareholders equity 17.16 Current Assets / Current Liabilities 1.65% 246.95 1.16% 10.07% 24.95% Sales /Total Assets 0.43% 12.25 1.21 48.84% 8.66 Gross Profit / Sales 20.36 0.28 7.99 Sales / Working Capital 12.70 Cost of sales/ Inventory 6.74 0. Ultratech Formula 2013 2014 2015 2016 NA 2655.78% EBIT/[Long term liabilities+shareholder equities] 19.95 0.61 Sales / [Long term Liabilities + Shareholder's equity] 0.96 7.59 Total Assets/Shareholders Equity 1.44 86.88 78.40% 9.86 Quick Assets / Current Liabilities 0.10 10.77 EBIT / Total Interest Payable 19.24 9.53 0.88% 12.15 0.73% 14.75% 38.79 6.14 -44.75 -17.67% 9.73 2370.80 1.96% Net income/ No: shares outstanding 96.82 1.70 6.00% 15.21 73.07 .88 1.72% 10.43 2144.31% 10.33 Market price per share / Net Income per share 43.36% 14.67 0.88% EBIT/Total Assets [ROTA] 14.47 2014.62 6.57 0.06% 12.28% Net Profit / Sales 13.54% 10.44 Long term Liabilities / Shareholders equity 256.72 0.36 53.74 1.93 0.68% 7.71 57.

10 1.47 0.80 0.65 16.57 0.73 2.33 0.32 1.67 2.00 6.69 37.19 1.00 10.72 233.22 3.52% 9.46 0.70% 6.86 0.25% 5.87% 4.35 542.59 0.42% 76.99 0.54 0.03 156.36% 3.55 1.29 3.88 6.99% 104.64 2.21% 13.21% 7.19% 9.76 0.11% 2.52 1.86 4.97% 11.14 1.30% 9.74% 3.81 125.60 10.50 0.12 700.64 2.76% 5.78% 16.52 0.54 0.26 3.77 2.03 247.68 5.03% 5.54 97.98 187. JK Cements Ramco Cements 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2627.58 0.47 20.44 15.68 0.91 259.73% 2.68 0.17 1.21 280.33% 13.31% 12.50% 4.79 394.77% 0.71 0.66 1.79 0.74 0.77% 161.22% 11.95% 108.60 0.84% 10.29 -10.09% 2.29 5.47% 4.28% 13.98% 13.78% 15.40 0.81% 3.30 2.73% 57.17 17.63 0.40 10.09 -14.89 403.87 1.67% 3.90 33.89% 9.53% 17.43 8.17 420.01 113.54% 5.04% 9.54% 3.30% 3.55% 5.52 3.77 0.65 0.93 .00 37.92 104.09 22.04 2.65 137.16% 17.73 0.74 0.71% 144.55 0.89 17.85 6.35% 4.23 7.94 0.81 5.13% 11.90 3.70 242.76 0.10% 8.67% 2.10 182.44% 7.19 0.26 -8.88% 10.29 3.64 22.97 -5.16 0.37 9.74% 6.39 1.83 0.89% 3.16 30.68% 134.00 6.65% 13.85 8.74 0.93 0.55% 9.64 0.00 43.99% 6.77% 7.56% 157.00 23.53% 95.02% 2.05% 112.77 0.

35% 27.63% 14.80 33.42 1.29 0.13% 0.23% 12.04% 17.00 155.65 6.58 .59 18.53 0.91 -7.ents 2017 649.87 7.70 0.33% 17.

80 1.93 0.60 JK Cements 0.60 Current Ratio 1.40 Ramco Cements 0.47 0.40 2013 2014 2015 2016 2017 1.10 1.42 0.40 1.20 Quick Ratio 1. 1.00 UltraTech 1.40 0.88 1.66 0.19 0.63 0.20 0.33 0.53 0.60 Ramco Cements 0.17 1.86 1.77 0.20 0.25 1.14 1.00 2013 2 1.00 2013 2014 2015 2016 2017 0.83 0.80 UltraTech 0.00 2013 2 .77 0.39 0.58 0.70 0.55 0.20 1.40 0.54 0.16 0.15 0.57 0.59 1.60 0.73 0.32 1.80 JK Cements 1.

00 UltraTech 0.20 1.40 1.20 0.00 2013 2014 2015 2016 2017 Current Ratio 1.60 1.40 Ramco Cements 0.80 JK Cements 0.60 JK Cements 0.40 0.1.20 0.00 0.80 UltraTech 0.00 2013 2014 2015 2016 2017 Quick Ratio .20 1.80 1.40 1.60 Ramco Cements 0.

74 0.77 2.00 UltraTech 1.56% 157.33% .04 1.26 3.77 1.29 Ramco Cements 3.70 6.24 9.73 2.52 1.30 2.00 JK Cements 2.44 7.00 2013 Debt Equity Ratio 2013 2014 2015 2016 2017 UltraTech 256.00 2013 2 25.71% 144.07% 24.87 1.90 3.64 1.50 0.50 2013 2014 2015 2016 2017 2.05% 112.42% JK Cements 76.67 2.75% 38.74 0.74 1.68% 134.57 0.50 JK Cements 2.78% 30.95% 108.29 3.65% 246.00 20.87 0. 3.00 UltraTech 19.00 Times Interest Earned 2013 2014 2015 2016 2017 15.50 0.00 0.28% 33.00 Leverage Ratio 2.77% 161.16 7.64 10.50 3.73% 57.23 1.99% Ramco Cements 104.82 1.00 Ramco Cements 2.80 5.80 1.86 4.28 7.

00 20.3.50 3.00 JK Cements Ramco Cements 5.00% 150.50 2.00 2013 2014 2015 2016 2017 Leverage Ratio 25.00% Ramco Cements 50.50 0.00 2013 2014 2015 2016 2017 Times Interest Earned 300.00 15.00 0.00 Ramco Cements 0.00% 250.00 2.50 JK Cements 1.00 UltraTech 10.00 UltraTech 1.00% 0.00% 200.00% UltraTech JK Cements 100.00% 2013 2014 2015 2016 2017 Debt Equity Ratio .

06% 12.52% 9.36% 3.53% 6.81% 3.00% 18.88 78.31% 10.00% 20.12% 13.16% 17.44 15.64 22.00% UltraTech 19.03% 5.44 86.90 JK Cements 33.30% 3.99% 6.00 27.00% JK Cements 13.96% 10.00% 2013 Earnings per Share 2013 2014 2015 2016 2017 UltraTech 96.00% 16.00% Return on Equity 14.00 10.00% UltraTech 8.70% 6.54% 10.00% Return on Invested Capital 2013 2014 2015 2016 2017 15.00 6.53% 17.40 10.00% 2.21% 7.33% 13.00% 17.17 Ramco Cements 17.76% 5. 25.98% 10.00% 2013 2014 2015 2016 2017 12.04% 5.00 .33 95.35% 4.55% 9.73% 14.00 37.00% 0.00% JK Cements Ramco Cements 12.21% 13.97% 11.00% 2013 R 20.00% Ramco Cements 17.21 73.31% 10.00% 0.11% 2.43% 12.84% 17.88% 12.00 23.

00 Ramco Cements 20.00% 12.00% 0.00% UltraTech 10.25.00 0.00 60.00 80.00% 2013 2014 2015 2016 2017 Return on Equity 120.00% JK Cements 6.00% JK Cements Ramco Cements 5.00% UltraTech 8.00% 2013 2014 2015 2016 2017 Return on Invested Capital 20.00% 15.00% 0.00 UltraTech JK Cements 40.00% Ramco Cements 4.00% 20.00% 10.00 2013 2014 2015 2016 2017 Earnings per Share .00% 2.00 100.00% 18.00% 16.00% 14.

65 155.81 400.03 300.30% 18.41% 13.36 53.00 2013 2014 2015 2016 2017 500.21 48.67% 2.00% Gross Profit Margin 2013 2014 2015 2016 2017 15.71 57.10 182.00 700.00 0.00% 20.21 280.00 Ramco Cements 247.54% 5.88% Ramco Cements 10.00 100.35% 4.00% 2013 Net Profit Margin 2013 2014 2015 2016 2017 UltraTech 13.00 Price Earning Ratio 600.68% 7.74% 3. 800.47% 4.87% 4.19% 9.00 UltraTech 43.23% .16% 10.88% 9.65% 13.13% 14.22% 10.77% JK Cements 7.17 420.50% 4.28% 16.36% 14.00% 15.66 43.00% JK Cements 11.63% 5.00 2013 25.84% 8.78% 16.74% 6.54% 3.89% 3.01 113.78% Ramco Cements 15.12 700.79 394.00 JK Cements 125.00% 0.98 187.44% 7.59 200.00% UltraTech 20.

00% 10.00% JK Cements Ramco Cements 5.00 600.00 2013 2014 2015 2016 2017 Price Earning Ratio 25.00% 2.00 Ramco Cements 100.00% 0.00% 14.00% 20.00% 15.00% 2013 2014 2015 2016 2017 Net Profit Margin .00 400.00 500.00% 2013 2014 2015 2016 2017 Gross Profit Margin 16.00% Ramco Cements 4.00% UltraTech 10.00% 0.00 700.00% UltraTech JK Cements 6.00 UltraTech 300.00% 8.800.00 JK Cements 200.00% 12.00 0.

00% 0.00% 14.40% 9.00% 2013 2014 2015 2016 2017 10.00% JK Cements 8.25% 5.72% 10.00% UltraTech 14.00% 2.13% 4.55% 5.89% 6.10% 8.09% 2.67% 3.04% 9.02% 2.00% 2013 .77% 12. 16.00% Ramco Cements 9.73% 2.95% 11.00% Return on Total Assets 12.67% 9.

00% UltraTech 6.00% JK Cements 4.00% 14.00% 12.00% 8.16.00% 0.00% 10.00% 2013 2014 2015 2016 2017 Return on Total Assets .00% Ramco Cements 2.

94 Ramco Cements 0.50 UltraTech 0.60 0.00 2013 In Invested Capital Turnover 2013 2014 2015 2016 2017 UltraTech 0.29 4.00 6.54 0.64 0.91 .10 10.88 6.68 0.81 JK Cements 5.46 6.62 6.65 0.59 0.00 2013 2 To 12.10 0.68 0.00 Ramco Cements 5.99 0.96 7.80 0.30 Ramco Cements 0.72 0.86 JK Cements 0.40 JK Cements 0.60 2013 2014 2015 2016 2017 0.95 1.65 0.71 0.20 0.67 0. 0.00 2013 2014 2015 2016 2017 6.52 3.55 0.52 0.36 0.93 0.76 0.22 3.70 0.74 0.00 Inventory Turnover Ratio 8.80 0.61 10.53 2.85 0.00 10.00 0.99 0.70 Total Asset Turnover Ratio 0.76 0.43 8.68 5.95 0.79 0.37 9.00 UltraTech 6.74 0.

10 0.70 0.00 10.60 0.00 2013 2014 2015 2016 2017 Total Asset Turnover Ratio 12.00 2013 2014 2015 2016 2017 Invested Capital Turnover .00 0.30 JK Cements 0.60 1.00 2013 2014 2015 2016 2017 Inventory Turnover Ratio 1.80 0.20 1.40 UltraTech 0.00 6.00 UltraTech JK Cements 4.40 0.0.00 0.60 Ramco Cements 0.20 Ramco Cements 0.80 UltraTech JK Cements 0.50 0.40 1.00 8.00 Ramco Cements 2.20 0.

00 -40.47 2014.09 -14.89 1000 Ramco Cements 403.91 259.26 -8.43 2144.92 104.97 -5.69 37.19 649.09 10.54 97.65 137.00 3000 2500 Net Profit 2000 2013 2014 2015 2016 2017 1500 UltraTech 2655.00 R -30.93 -7.16 2627.00 UltraTech 12.73 2370.29 500 0 2013 2 . 50.7 242.00 2013 Ramco Cements -10.07 6.89 17.29 -10.00 2013 2014 2015 2016 2017 20.03 156.00 0.75 -17.00 JK Cements 22.79 6.58 W -20.47 20.00 40.14 -44.85 8.72 JK Cements 233.00 Working Capital Turnover Ratio 30.00 -50.35 542.

00 2013 2014 2015 2016 2017 Ramco Cements -20.00 JK Cements -10. 50.00 -40.00 30.00 UltraTech 0.00 -50.00 20.00 10.00 3000 2500 2000 1500 UltraTech JK Cements 1000 Ramco Cements 500 0 2013 2014 2015 2016 2017 Net Profit .00 Working Capital Turnover Ratio -30.00 40.