INDEX

Sr. No. Contents Page No.

1. Introduction 1-3

2. Company Profile 4-10

3. Objective 11

4. Hypothesis 12

5. Research Methodology 13-16

6. Review Of Literature 17-18

7. Ratio Analysis and Interpretation 19-40

8. Limitation Of The Study 41

9. Findings 42

10. Suggestions 43

11. Conclusion 44

12 Bibliography 45

13. Annexure 46-51

 INTRODUCTION:

Reliance Industries Limited (RIL) is an Indian conglomerate holding company

headquartered in Mumbai, Maharashtra, India. Reliance owns businesses across
India engaged in energy, petrochemicals, textiles, natural resources, retail and
telecommunications. Reliance is one of the most profitable companies in India, the
largest publicly traded company in India by market capitalization, and the second
largest company in India as measured by revenue after the government - controlled
Indian Oil Corporation.

Reliance Petroleum Limited is a company owned by Reliance Industries Limited

(RIL), one of India’s largest private sector companies. It is based Ahmedabad,
Gujarat, India, and has interests in the downstream oil business. RPL also benefits
from strategic alliance with Chevron India Holdings Private Limited (Singapore), a
wholly owned subsidiary of Chevron Corporation USA (Chevron), which currently
holds a 5% equity stake in the Company.

Reliance Petroleum and RIL own/have long term chartered two oil rings- DD KG-
1 and DD KG-2 (DD standing for Dhirubhai Deepwater). They are both drilling
ships registered in Marshall Islands and owned by Deepwater Pacific Inc., a
subsidiary of Transocean.

Ratio Analysis:

Ratio Analysis is a technique of analyzing the financial statement of industrial

concerns. Now a day this technique is sophisticated and is commonly used in
business concerns. Ratio Analysis is not an end but it is only means of better
understanding of financial strength and weakness of a firm.
Ratio Analysis is one of the most powerful tools of financial analysis which helps
in analyzing and interpreting the health of the firm. Ratio’s are proved as the basic
instrument in the control process and act as back bone in schemes of the business
forecast.

With the help of ratio we can determine:

• The ability of the firm to meet its current obligations.

• The limit or extent to which the firm has used its borrowed funds.

• The efficiency with which the firm is utilizing in generating sales revenue.

• The operating efficiency and performance of the company.

Classification of Ratios:
Ratios can be classified into different categories depending upon the basis of
classification.

I. TRADITIONAL CLASSIFICATION
Traditional classification has been on the basis of financial statements, on
which ratio may be classified as follows.
1. Profit & loss account ratios.
E.g. Gross Profit Ratio, Net Profit Ratio, Operating Ratio etc.
2. Balance sheet ratio.
E.g. Current Ratio, Debt Equity Ratio, Working Capital Ratio etc.
3. Composite/Mixed Ratio.
E.g. Stock Turnover Ratio, Debtors Turnover Ratio, Fixed Assets
Turnover Ratios etc.
 II. FUNCTIONAL CLASIFICATION OF RATIOS
Functional ratios
1. Liquidity ratios
a) Current Ratio
b) Quick Ratio
2. Leverage ratios
a) Debt-equity Ratio
b) Current Asset to Proprietor’s fund Ratio
III. PROBABILITY RATIOS
a) Gross Profit Ratio
b) Operating Profit Ratio
c) Return On Investment
IV. ACTIVITY RATIO
1. Inventory Turnover Ratio
2. Asset Turnover Ratio
a) Fixed Asset Turnover Ratio
b) Current Asset Turnover Ratio
3. Working Capital Turnover Ratio
 COMPANY PROFILE
RELIANCE PETROLEUM LIMITED

Type: Public Company

Industry: Petroleum & Gas
Founded: 2008
Headquarters: Ahmadabad, India
Key People: Mukesh Ambani
Products: Petroleum
Revenue: ₹ 36.78
Billion (US$610 million)
Parent: Reliance Industries
Website: www.reliancepetroleum.com

Reliance Petroleum Limited

Was set up by Reliance Industries Limited (RIL), one of India's largest private
sector companies based in Ahmadabad. Currently, RPL is subsidiary of RIL, and
has interests in the downstream oil business. RPL also benefits from a strategic
alliance with Chevron India Holdings Pte Limited, Singapore, a wholly owned
subsidiary of Chevron Corporation USA (Chevron), which currently holds a 5%
equity stake in the Company.
History of Reliance Petroleum

The Company was incorporated under the Companies Act, 1956 on October 24,
2005 as Reliance Petroleum Limited and obtained its certificate of commencement
of business on November 7, 2005.The Company formed to set up a green field
petroleum refinery and polypropylene plant to be located in a Special Economic
Zone in Jamnagar in the state of Gujarat in western India. The proposed refinery
and polypropylene plant will be located adjacent to the existing refinery and
petrochemical complex of the Promoter, Reliance Industries Limited (“RIL”), the largest
private sector company in India with assets of over Rs.806 billion (approximately
US$ 18 billion) as of March 31, 2005.RIL is the only private sector company from
India to feature in the Fortune Global 500.2007- Reliance Petroleum Ltd has
informed that Mr. Michael Seymour Warwick has been appointed as an Additional
Director of the Company.2008-Reliance Petroleum Ltd has appointed Mr. Joffery
Reney Pryor, Vice President Business Development- Chevron Corporation, as a
nominee director of Chevron in place of Mr. Jagjeet Singh Bindra.- Reliance
Petroleum Ltd has informed that Mr. Pawan Kumar Kapil has been appointed as
an Additional Director of the Company with effect from December 15, 2008.

Jamnagar Refinery
Refining activities of Reliance Industries Limited are carried out at the Jamnagar
refinery complex with refining capacity of 1,240,000 barrels per day which is 65
million tons per annum. The refinery is able to process a wide variety of crudes
from very light to very heavy (from 18 to 45-degree API) and from sweet to very
sour (with sulfur content from 0 to 4.5%). RPL commenced its crude processing
on 25 December 2008. The secondary processing units are now under
synchronization and commissioning. The entire refinery complex is expected to
attain full capacity shortly.

With an annual crude processing capacity of 580,000 barrels (92,000 m3) per
stream day (BPSD), RPL will be the sixth largest refinery in the world. It will have
a complexity of 14.0, using the Nelson Complexity Index, ranking it one of the
highest in the sector. The polypropylene plant will have a capacity to produce 0.9
million metric tons per annum.

The refinery project is being implemented at a capital cost of Rs 270,000 million

being funded through a mix of equity and debt. This represents a capital cost of
less than US$10,000 per barrel per day and compares very favorably with the
average capital cost of new refineries announced in recent years.

The International Energy Agency (IEA) estimates the average capital cost of new
refinery in the OECD nations to be in the region of US$15,000 to20,000 per barrel
per day.

The low capital cost of RPL becomes even more attractive when adjusted for high
complexity of the refinery.
GROWTH OF RELIANCE INDUSTRIES
Reliance Industries, India’s largest industrial company by revenue, has posted a modest
Increase in second-quarter net profit, thanks to higher margins in its
petrochemicals businesses and a sharp depreciation in the rupee.

Billionaire Mukesh Ambani’s energy focused conglomerate reported net profits of

Rs54.9bn ($894m) in the period up 1.5 per cent year-on-year, but the Mumbai-
based group’s slow estate of profit increase in 2013.

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In a statement, Mr. Ambani highlighted the performance of the petrochemicals

division, which is one of the world’s largest producers of polyester fiber and other materials
and achieved unexpectedly high margins.

“Reliance’s first-half performance reflects the resilience of our business model in a

period of volatility and uncertainty,” Mr. Ambani said, “Our diversified and integrated
petrochemicals business captured margins across segments, delivering near-record
profit levels even as the domestic economy slowed.”

This broadly positive performance came despite the continued weak performance of the
group’s oil and gas exploration division, which has seen regulatory disagreements
and delays relating to an eastern Indian gas field it co-owns with BP. Reduced
production meant quarterly revenues at the exploration division fell 35 per cent
year-on-year to only Rs14.6bn, even as quarterly revenues for the wider group rose
14 percent top as Rs1tn for the first time.
BP owns a one-third stake in the company’s KG-DG gas field following a $7.2bn deal
in 2011, but the partnership has been further undermined by indications that India’s
government may roll back a planned increase in the price that the partners can charge
for the gas.

Negotiations over the proposed price rise which both companies say is a necessary
precondition to any further investment in improving output have been marred by
wrangling over the reasons behind recent production falls.

Reliance and BP insist the field’s difficulties are caused by geological complication a claim
that India’s government has decided to investigate by appointing independent consultants to
Review the field’s performance.

Reliance also reported a fall in margins at its oil refining and marketing operations,
which provide around half of the group’s revenue and include its main Jamnagar facility in
western India the world’s largest oil refinery.

Mr. Ambani plans to invest about Rs1.5 tn in the group by 2017, part of which
will go into reviving the oil and gas business, as well as a major upgrade for its
petrochemicals facilities and a closely watched new operation in the
telecommunications sector.
However, Reliance’s result statement made no mention of the long-awaited launch date
for this mobile telecoms operation, which plans to provide ultra-fast 4G services
but has been delayed since last year.
Reasons of decrease in Reliance Petroleum

Dhirubhai Ambani died in 2002, and the Ambani brothers took over as heads of the
company. In that year, the company increased its dominance of the country's petrochemicals
sector through its acquisition of main private-sector rival Indian Petrochemicals
Corporation. Also in 2002, Reliance launched a diversification effort, targeting
the telecommunications sector, especially the fast-growing cellular phone market.
Reliance set up its own phone service, Reliance Info comm., in that year.

Yet the petroleum industry remained the company's major growth focus. In 1999,
the Indian government auctioned off 25 blocks for exploration; bids were given in
the form of royalty percentage offers. Reliance won 12 of the blocks and promptly
set in place its own team of exploration experts, backed by oilfield services from
Halliburton and Schlumberger. Reliance's investment quickly paid off with
the discovery of natural gas reserves estimated at some 14 trillion cubic feet, the
largest natural gas field discovered in India in decades, in the Krishna-Godavari
Basin in the Bay of Bengal. In 2004, the company struck again, locating a new gas
field in the Bay of Bengal, off the Orissa Coast.

Buoyed by its successful exploration efforts, Reliance unveiled an

ambitious expansion program for the second half of the 2000s. The company's plans
included a $6 billion extension of the Jamnagar site, doubling it in size and making it
the world's largest refinery by 2009. The company also announced that it intended
to spend $10 billion on further oil exploration efforts, targeting the international
market. In this way, the company hoped to increase its production tenfold by the end of the
century. At the other end of the petroleum market, the company launched a $1.5
billion expansion of its Reliance gas station chain, with the goal of 6,000 stations.
The company also expanded internationally, becoming the world's leading manufacturer of
polyester yarn with the acquisition of Germany's Trevira. In addition, the company
boosted its telecommunications wing, acquiring U.K.-based FLAG Telecom, an operator of a
50,000-kilometer underwater fiber-optic cable network.

In the meantime, rising tensions between Mukesh and Anil Ambani came to a head in late
2005, when a long-simmering disagreement over company strategy broke out into
an open and highly publicized feud. In the end, a truce was brokered by the
brother’s mother, who proposed a breakup of Reliance Industries into two roughly equal
components. Mukesh Ambani remained as head of the company's petroleum,
petrochemical, and textiles operations, and Anil Ambani regrouped the company's
telecommunications, energy, capital finance, and other operations into a new company. The
breakup of the company took place in 2006. As a result, Reliance Industries
emerged as a focused and highly integrated petroleum and petrochemicals
challenger to the global heavyweights.
 OBJECTIVE

1) To study the financial statements of reliance petroleum company.

2) To find out the various financial ratios of the firm.
3) To compare the financial ratios of the last five financial years.
4) To find out the liquidity position of the firm.
5) To determine the financial performance of the firm in the last five financial
years.
 HYPOTHESIS

1) There is considerable increase in net sales in current year as compared to

previous year sales.
2) The liquidity position of the firm is very good.
3) The financial performance is satisfactory in as compared to previous year
(2016-17)
 RESEARCH METHODOLOGY

RESEARCH:

Research is a process in which the researcher wishes to find out the end result for a
given problem and thus the solution helps in future course of action. The research
has been defined as “A careful investigation or enquiry especially through search
for new facts in branch of knowledge”.

RESEARCH DESIGN:

Redman and Mory (1923) defined research as a “systematic effort to gain new
knowledge” According to Clifford Woody “research comprises defining or
redefining problems, formulating hypothesis or giving solutions, collecting,
organizing, evaluating the data, making deductions and reaching conclusions and
at carefully testing the conclusion to determine whether they fit the formulating
hypothesis.”

The research design used in this project is Analytical in nature the procedure using,
which researcher has to use facts or information already available, and analyze
these to make a critical evaluation of the performance.

With particular reference to working capital management, for the prosecution of

the study, both the primary and secondary data.
DATA COLLECTION METHOD:

Primary Data:

Primary data is the information collected by the researcher in first hand. This data
is collected by the researcher in order to analyze the research. Primary data is
collected from the field organization selected that is from the employees,
customers and observing the real life situations. The main benefit of the primary
data is collected only for the specific study so it is more relevant to the study. But
there is disadvantage for the collection of primary data it involves more cost and
time. It is not suitable for short term study. Primary data for this proposal will be
collected from the employees and customers of Reliance Petroleum Company in
order to know how they work over there. Primary research may be quantitative and
qualitative research. Qualitative research is a method where the researcher set the
questionnaire which will give to large number of respondents. Based on the
responses the data will be analyzed. In this study questionnaire will be given to the
customers and employees of Reliance Petroleum Company to analyze the data.

Secondary Data:

Secondary data is the information which is collected already and it is used for
some other studies by different researcher. This data not only used for the current
study. The sources of secondary data are books, journals, articles, newspapers,
internet, government, corporate reports and library. The advantage of this data it is
easily available and also very cheap compared to primary data. In this study we are
using secondary data for the analyses of ratio in order to know the financial
performance of Reliance Petroleum Company.

Data are collected from the annual reports maintained by the company.
Data are collected from the company’s website.

Data is collected from books and journals pertaining to the topic.

Financial Statement:

A financial statement is an organized collection of data according to logical and

consistent accounting procedures. Its purpose is to convey understanding of some
financial aspects of business firm. It may show a position at a moment in time as in
the case of balance sheet or may reveal a series of activities over a given period of
time as in case of income statement.

Financial statement are prepared for the management to deal with,

a. Status of investments.
b. Results achieved during a given period under review a financial statement.
Generally refer to the following;
1. Income Statement - The income statement also termed as (profit or loss
account) is generally considered to be the most useful of all financial
statements. It explains what has happened to a business as a result of
operations between two balance sheet dates. It discloses the revenue realized
from the sale of goods and the costs incurred in the process of producing the
scheme. It tells the story of Progress or decline over given period and why
and how an indicated result was achieved.

2. Balance sheet- It is statement of financial position of a business at particular

moment of time and the claims of the owners and outside against those
assets at that time.
3. Statement of Retained Earnings - The term retained earnings means the
accumulated excess of earnings over losses and dividends. The balance
shown income statement is transferred to the balance through this statement
after making necessary appropriations. It is thus a connecting link between
the balance sheet and income statement. This statement is also termed as
project and loss appropriation account in case of companies.
 REVIEW OF LITERATURE

1) How accounting ratios affecting an investors decision, some cases of

construction companies; by Nguyen Thi Kim (2008):

Accounting ratios are values of the relationships between 2 related accounts

that appear in the financial statements such as: income statement, balance-
sheet, cash flows statement, and changes in equity. They present a company
condition in the previous time, and predict by how the company will operate
in the future. This research works to evaluate the values of accounting ratios
to make investment decisions. By conducting of standard financial
statements, calculating of accounting ratios and comparing these ratios in
variety of companies are a burning issue and crucial mission to investors. As
Vietnam is a developing and urbanizing country. It is a benefit condition for
construction industry to grow. This project aims to discover definitions of
accounting or financing ratios also the calculations of these accounting and
then it shows how of accounting ratios affect on investor’s decision making.
The results of the study provide evidence to measure ratios and lastly it
shows out some recommendations and suggestions in applying accounting
ratios in investment decisions to investors.
2) Financial Ratio Analysis: Putting The Numbers To Work; By John
Bajkowski (2010)
Financial Statement analysis consists of applying analytical tools and
techniques to financial statements in an attempt to quantify the operating and
financial conditions of a firm. The emphasis of the analysis changes
depending upon one’s relationship with the company. A credit analyst
extending a short term, unsecured loan to a company will examine the firm’s
 cash flow and the liquidity of the company’s assets. A stock investor, on the
other hand, is primarily looking for future growth in cash flow and earnings.
Investors typically examine variables that might significantly impact a firm’s
financial structure, sales, earnings production, and dividend policy. Having
examined the structure and basic interpretation of the balance sheet, income
statement, and statement of cash flows in the first three parts of this series on
financial statement analysis, we come to the central issue of how the data
can be used in investment analysis.

3) Analyzing Financial Information Using Ratios; Kate Barr(2005):

Leaders of nonprofits who seek to understand the organization’s financial
situation usually start by reviewing the financial reports. Understanding the
financial information is the building block of any financial dissension.
Beyond understanding the reports, much can be learned from analysis
includes comparing financial reports to a benchmark such as the budget or
the financial report from the previous year. One essential question is: does
this information match our expectations? For a more technical financial
analysis, ratios can be used to deepen the understanding and interpretation.
Financial ratios are an established tool for businesses and nonprofits. While
there are dozens of ratios that can be calculated, most non profits can use a
handful of them to learn more about their financial condition. This tool
provides the description and calculation of 14 ratios including a mix of
balance sheet and income statement ratios. Individual nonprofits must decide
for themselves which calculations are valuable.
 RATIO ANALYSIS AND INTERPRETATION

STEPS IN RATIO ANALYSIS

The ratio analysis requires two steps as follows

1] Calculation of ratio

2] Comparing the ratio with some predetermined standards. The standard ratio may
be the past ratio of the same firm or industry’s average ratio or a projected ratio or
the ratio of the most successful firm in the industry. In interpreting the ratio of a
particular firm, the analyst cannot reach any fruitful conclusion unless the
calculated ratio is compared with some predetermined standard. The importance of
a correct standard is oblivious as the conclusion is going to be based on the
standard itself.

Parties interested in Ratio Analysis

Ratio analysis serves the purpose of various parties interested in financial

statements. Primarily the objective of ratio analysis and interpreting the financial
statements is to get adequate information useful for the performance of various
functions like planning, coordinating, controlling, communication and forecasting
etc.

The interested parties may be:

Share holders/Investors:

Investor in the company will like to access the financial position of company
where he is going to invest. The first concern would be the security of the
investment and then the return on the investment in the form of interest and
dividends. So, Investors concentrate on the firm’s financial structure to the extent
that influences the firm’s earning ability and risk.
Trade creditors:

They are interested in firm’s ability to meet its claims over a short period of time.
So their analysis is usually confined to evaluation of firm’s liquidity position.

The long term creditors:

They are concerned with firm’s long term future solvency and survival. They
analyze the firm’s profitability over a period of time, its ability to generate cash,
ability to pay interest, repay the principle and relationship between various sources
of funds.

Employees:

Employees are interested in financial position the concern especially profitability.

Their wages and amount of fringe benefits are related to the volume of profits
earned by the concern. The employees make use of the information available in the
financial statements.

Government:

Government is interested to know the overall financial health of the company.

Various financial statements published by the industrial units are used to calculate
the ratios for determining short-term, long-term and overall financial position of
the firm. Government may base its future policies on the basis of industrial
information available from various units.

Management:

Management of the firm requires these statements for its own evaluation and
decision making. Moreover, it is responsible for the overall performances of the
firm maintaining its solvency so as to be able to meets short-term and long-term
obligations to the creditors and at the same time ensuring an adequate rate of
return, consistent with safety of funds of its owner. Financial analysis may not
provide exact answer to the questions but it will be an indication of forthcoming
future.
 1- Operational & Financial Ratios

a) Earnings Per Share (Rs)

Meaning:

Earnings per Share are calculated to find out overall profitability of the
organization. Earnings per Share represent earning of the company whether
or not dividends are declared. If there is only one class of shares, the earning
per share are determined by dividing net profit by the number of equity
shares.
EPS measures the profits available to the equity shareholders on each share
held.
NPAT
Earnings per share =
Number of equity share

For Reliance Petroleum Limited the variance of EPS ratio for 5 years is –
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
53.06 96.66 84.52 70.21 68.02

Earning Per Share (Rs.)

120

100

80

60

40

20

0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
 b) Dividend Per Share (Rs)

Meaning:DPS shows how much is paid as dividend to the shareholders on each

share held.

Formula:

Dividend Paid to Ordinary Shareholders

Dividend per Share =
Number Of Ordinary Shares

For Reliance Petroleum Limited the variance of DPS ratio for 5 years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

6.00 11.00 10.50 10.00 9.50

Dividend Per Share (Rs.)

12

10

0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
 c) Book NAV/Share(Rs.)

Meaning: An expression for net asset value that represents a fund's (mutual,
exchange-traded, and closed-end) value per share. It is calculated by dividing the
total net asset value of the fund or company by the number of shares outstanding.

It is also referred to as "book value per share".

Mutual Fund′ sNet Asset Value

Net Asset Value =
Shares Outstanding

For Reliance Petroleum Limited the variance of Book NAV Share (%) ratio for 5
years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

496.66 886.83 783.86 667.98 609.76

BOOK NAV/SHARE(Rs.)
1000
900
800
700
600
500
400
300
200
100
0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
 2- Performance Ratios
(a) ROA Ratio:

Meaning: The return on assets (ROA) percentage shows how profitable a

company's assets are in generating revenue.

ROA can be computed as:

This number tells you what the company can do with what it has, i.e. how many
dollars of earnings they derive from each dollar of assets they control. It’s a useful
number for comparing competing companies in the same industry. The number
will vary widely across different industries. Return on assets gives an indication of
the capital intensity of the company, which will depend on the industry; companies
that require large initial investments will generally have lower return on assets.

For Reliance Petroleum Limited the variance of ROA (%) ratio for 5 years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

5.77 6.11 6.23 5.94 6.41

ROA (%)
6.6

6.4

6.2

5.8

5.6

5.4
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
(b) ROE Ratio:

Meaning: Return on Equity (ROE, Return on average common equity, return on

net worth, Return on ordinary shareholders' funds) (requity) measures the rate of
return on the ownership interest (shareholders' equity) of the common stock
owners. It measures a firm's efficiency at generating profits from every unit of
shareholders' equity (also known as net assets or assets minus liabilities). ROE
shows how well a company uses investment funds to generate earnings growth.

Net Income After Tax

ROE =
Shareholder Equity

For Reliance Petroleum Limited the variance of ROE (%) ratio for 5 years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

11.15 11.59 11.65 11.00 11.69

ROE (%)
11.8

11.6

11.4

11.2

11

10.8

10.6
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
(c) ROCE Ratio:

Meaning: Return on Capital Employed (ROCE) is used in finance as a measure of

the returns that a company is realizing from its capital employed. It is commonly
used as a measure for comparing the performance between businesses and for
assessing whether a business generates enough returns to pay for its cost of capital.

For Reliance Petroleum Limited the variance of ROCE (%) ratio for 5 years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

12.18 11.49 11.43 10.60 11.52

ROCE (%)
12.5

12

11.5

11

10.5

10

9.5
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
 3- Valuation Parameters
(a) PER (x) Ratio:

Meaning: The P/E ratio (price-to-earnings ratio) of a stock (also called its "P/E",
"PER", "earnings multiple," or simply "multiple") is a measure of the price paid for
a share relative to the annual net income or profit earned by the firm per share.[2]
It is a financial ratio used for valuation: a higher P/E ratio means that investors are
paying more for each unit of net income, so the stock is more expensive compared
to one with lower P/E ratio.

Price Per Share

PER Ratio =
Annual Earning Per Share

For Reliance Petroleum Limited the variance of PER (x) ratio for 5 years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

16.64 6.82 12.37 11.75 13.67

PER (x)
18
16
14
12
10
8
6
4
2
0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
 (b) PCE (x) Ratio:

Meaning: A measure of price changes in consumer goods and services. Personal

consumption expenditures consist of the actual and imputed expenditures of
households; the measure includes data pertaining to durables, non-durables and
services. It is essentially a measure of goods and services targeted toward
individuals and consumed by individuals

For Reliance Petroleum Limited the variance of PCE (x) ratio for 5 years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

12.95 10.75 9.41 8.55 9.76

PCE (x)
14

12

10

0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
 (c) Price/Book Ratio:

Meaning: A ratio used to compare a stock's market value to its book value. It is
calculated by dividing the current closing price of the stock by the latest quarter's
book value per share. It is also known as the "price-equity ratio".

Stock Price
Price Book Ratio =
Total Assets − Intangible Assets and Liabilities

For Reliance Petroleum Limited the variance of Price/Book (x) ratio for 5 years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

1.78 1.49 1.33 1.23 1.52

PRICE/BOOK (x)
2
1.8
1.6
1.4
1.2
1
0.8
0.6
0.4
0.2
0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
 (d) Yield Ratio:

Meaning: The return on an investment. This refers to the interest or dividends

received from a security and are usually expressed annually as a percentage based
on the investment's cost, its current market value or its face value.

It is a comparison of the expected yield of one bond to the expected yield of

another. A yield ratio is important when deciding whether to invest in one bond or
another; generally, the one with the higher yield wins out. However, it is important
to take into account the after tax basis when taking the yield ratio of a corporate
bond and a tax-exempt municipal bond. A corporate bond yields less than its stated
interest rate because of taxation, whereas a tax-exempt municipal bond does not.
Thus, a municipal bond paying a lower interest rate will often net the bondholder
more than a corporate bond with a slightly higher interest rate, depending upon
one's tax bracket.

For Reliance Petroleum Limited the variance of YIELD (%) ratio for 5 years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

0.68 0.83 1.00 1.21 1.02

YIELD (%)
1.4

1.2

0.8

0.6

0.4

0.2

0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
 (e) EV/ NET Sales Ratio:

Meaning: A valuation measure that compares the enterprise value of a

company to the company's sales. EV/sales gives investors an idea of how much it
costs to buy the company's sales. This measure is an expansion of the price-to-sales
valuation, which uses market capitalization instead of enterprise value. EV/sales is
seen as more accurate because market capitalization does not take into account as
well as enterprise value the amount of debt a company has, which needs to be paid
back at some point.

Market Capitalization + Debt + Preferred Shares − Cash and Cash Equivalents

EV Net Sale =
Annual Sales

For Reliance Petroleum Limited the variance of EV/NET Sales (x) ratio for 5 years
is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

2.32 2.21 1.88 1.07 0.91

EV/ NET Sales (x)

2.5

1.5

0.5

0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
 (f) EV / Core EBITDA(x) Ratio:

Meaning: An indicator of a company's financial performance which is calculated

in the following EBITDA calculation:

𝐄𝐁𝐈𝐓𝐃𝐀 = 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 − 𝐄𝐱𝐩𝐞𝐧𝐬𝐞𝐬(𝐞𝐱𝐜𝐥𝐮𝐝𝐢𝐧𝐠 𝐭𝐚𝐱, 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭, 𝐝𝐞𝐩𝐫𝐞𝐜𝐢𝐚𝐭𝐢𝐨𝐧, 𝐚𝐧𝐝 𝐚𝐦𝐨𝐫𝐭𝐢𝐳𝐚𝐭𝐢𝐨𝐧

EBITDA is essentially Net Income with interest, taxes, depreciation, and

amortization added back to it. EBITDA can be used to analyze and compare
profitability between companies and industries because it eliminates the effects of
financing and accounting decisions. However, this is a non-GAAP measure that
allows a greater amount of discretion as to what is (and is not) included in
the calculation. This also means that companies often change the items included in
their EBITDA calculation from one reporting period to the next.
When a company is valued using EBITDA - it is known as a EBITDA Valuation.

For Reliance Petroleum Limited the variance of Book NAV Share (%) ratio for 5
years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

11.23 10.29 9.30 8.75 8.89

EV / Core EBITDA(x)
12
10
8
6
4
2
0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
 (g) EV / EBIT(x) Ratio:

Meaning: Enterprise value to earnings before interest and tax (EV/Ebit) is a way of
deciding whether a share is cheap (a low number) or expensive relative to, say, its
peers or the wider market.

Formula: EV = market capitalization + debt + minority interest +

preferred stock − cash

For Reliance Petroleum Limited the variance of EV/EBIT (x) ratio for 5 years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

13.37 12.29 11.38 11.09 11.40

EV / EBIT(x)
16
14
12
10
8
6
4
2
0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
 (h) EV / CE(x) Ratio:

Meaning: Enterprise value (EV) and Enterprise value ratios are part of the basic
foundation of stock analysis for value investors.

The purpose of Enterprise Value (EV) is twofold; First, to calculate what it would
cost to purchase the entire company or business. Secondly, to provide a capital
neutral valuation with which to compare with other companies.

Formula: Enterprise Value (EV) = Market Capitalization + Total Debt – Cash

For Reliance Petroleum Limited the variance of EV/CE (x) ratio for 5 years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

1.09 0.98 0.91 0.89 0.96

EV / CE(x)
1.2

0.8

0.6

0.4

0.2

0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
 (i) M Cap / Sales Ratio:

Meaning: Market Capitalization is an important concept to the investors who are

looking for investing in company shares. Usually, each investor looks at the market
capitalization of a company before deciding to invest in the firm.

Formula: Market Capitalization=Outstanding Shares * Market Price of Each

Share

For Reliance Petroleum Limited the variance of M Cap/ Sales ratio for 5 years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

1.93 1.77 1.45 0.81 0.77

M Cap / Sales
2.5

1.5

0.5

0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
 4- Growth Ratio:
(A) Core Operating Income Growth:

Meaning: It measures the amount of money a company makes from its core
business activities not including other income expenses not directly related to the
core activities of the business.

Formula: operating income=gross income-operating expenses-depreciation and

amortization

For Reliance Petroleum Limited the variance of Core Operating Growth ratio for 5
years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

70.99 6.28 8.24 -26.17 5.60

Core Operating Income Growth

80

60

40

20

0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
-20

-40
 (B) Operating Profit Growth

Meaning: The operating profit growth ratio indicates how much profit a company
makes after paying for variable costs of production such as wages, raw materials,
etc.

Formula: Operating Profit Growth=Operating income/Total revenue

For Reliance Petroleum Limited the variance of Operating Profit Growth ratio for
5 years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

15.39 10.17 16.98 1.28 2.65

Operating Profit Growth

18
16
14
12
10
8
6
4
2
0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
 (C) Net Profit Growth

Meaning: The net profit growth is equal to how much net income or profit is
generated as a percentage of revenue. Net profit growth is the ratio of net profits
to revenues for a company or business segment. Net profit margin is typically
expressed as a percentage but can also be represented in decimal form. The net
profit growth illustrates how much of each dollar in revenue collected by a
company translates into profit.

Formula:

𝑁𝑒𝑡 𝑃𝑟𝑜𝑓𝑖𝑡 𝐺𝑟𝑜𝑤𝑡ℎ

𝑅𝑒𝑣𝑒𝑛𝑢𝑒 − 𝐶𝑜𝑠𝑡 𝑜𝑓 𝐺𝑜𝑜𝑑𝑠 𝑆𝑜𝑙𝑑 − 𝑜𝑝𝑒𝑟𝑎𝑡𝑖𝑛𝑔 𝑒𝑥𝑝𝑒𝑛𝑠𝑒𝑠 − 𝑂𝑡ℎ𝑒𝑟 𝑒𝑥𝑝𝑒𝑛𝑠𝑒𝑠 − 𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑡 − 𝑡𝑎𝑥𝑒𝑠
=( ) ∗ 100
𝑅𝑒𝑣𝑒𝑛𝑢𝑒

For Reliance Petroleum Limited the variance of Net Profit Growth ratio for 5 years
is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

6.96 14.76 20.53 3.34 4.67

Net Profit Growth

25

20

15

10

0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
 (D)BVPS Growth

Meaning: Book value of equity per share (BVPS) is the equity available to
common shareholders divided by the number of outstanding shares. This represents
the minimum value of a company's equity.

𝑇𝑜𝑡𝑎𝑙 𝐸𝑞𝑢𝑖𝑡𝑦−𝑃𝑟𝑒𝑓𝑒𝑟𝑟𝑒𝑑 𝑒𝑞𝑢𝑖𝑡𝑦

Formula: 𝐵𝑉𝑃𝑆 =
𝑇𝑜𝑡𝑎𝑙 𝑆𝑎ℎ𝑟𝑒𝑠 𝑂𝑢𝑡𝑠𝑡𝑎𝑛𝑑𝑖𝑛𝑓

For Reliance Petroleum Limited the variance of BVPS Growth ratio for 5 years is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

-44.00 13.14 17.35 9.55 10.03

BVPS Growth
30

20

10

0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
-10

-20

-30

-40

-50
 (E) EPS Growth (%)

Meaning: Earnings per share (EPS) Growth Rate ratio, is expressed as a percentage
and it shows the relative growth of EPS over the last two reporting periods. A
minus sign indicates negative growth from last year. If the previous year's EPS-
basic is zero earnings per share growth rate is not defined.

Current Years EPS basic−Previous Years EPS basic

Formula: EPS growth = [ ] ∗ 100
Absolute Value(Previous Years EPS basic)

For Reliance Petroleum Limited the variance of EPS Growth (%) ratio for 5 years
is

Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14

-45.11 14.37 20.38 3.22 4.57

EPS Growth (%)

30

20

10

0
Mar ‘18 Mar’ 17 Mar’ 16 Mar’ 15 Mar’ 14
-10

-20

-30

-40

-50
 LIMITATION OF THE STUDY:

1) The study is limited to the Reliance Petroleum Company.

2) The study is limited only for last five years financial ratios of Reliance
Petroleum Company.
3) The data collected is limited as time frame is short.
4) The study is only for the academic purpose.
 FINDINGS

1) The Current ratio is below the standard ratio and it is not good from
company’s point of view. It shows that it is not good position to meet the
short term liabilities.
2) The liquidity ratio is according to standard ratio (1:1) and it is good from
company’s point of view. It shows the company is able to meet its liabilities
is short period.
3) The debtor turnover ratio is good. It shows the collection of debtors is very
prompt.
 SUGGESTIONS

1. The current ratio of the company doesn’t reach standard ratio so company
need to concentrate on increasing the current ratio by increasing in current
assets.
2. Debt ratio of the company has been increased to subsequent year. High debt
ratio is unfavorable of the company.
3. The company needs to maintain good capital employed turnover ratio by
increasing the sales.
4. The company needs to increases the working capital turnover ratio for
efficiency utilization of working capital.
 CONCLUSION
Study of the ratio analysis of Reliance Petroleum Limited reveals the performance
of the company in terms of financial aspects. It is found that there is an increase in
sales, net profit; during 2017-18 the cash balance is also increased for the above
said year. It is also observed that the current ratio is not satisfactory. Net working
capital ratio is also increasing for the above said year.
Further the company performance and efficiency can be improved by above
mentioned points in the suggestion.
 BIBLIOGRAPHY
1) Shashi K. Gupta & R. K. Sharman; “Financial Management Theory and
Practice”; 6th revised edition, Kalyani Publishers
2) C. R. Kothari, “Research Methodology, Methods & Techniques”; 2nd revised
edition, New Age International Publishers.
3) Prasana Chandra; “Financial Management Theory & Practice”, 7th Edition,
Tata Mc Graw Hill
4) Ravi M. Kishor; “ Financial Management” 7th edition; Taxman’s
 Annexure- 1

Balance sheet of Last Five Years

MAR'18 MAR'17 MAR'16 MAR'15 MAR'14
Parameters
(₹ Cr.) (₹ Cr.) (₹ Cr.) (₹ Cr.) (₹ Cr.)
EQUITY AND
LIABILITIES
Share Capital 6,335.00 3,251.00 3,240.00 3,236.00 3,232.00
Share Warrants &
Outstanding
Shareholder's Funds 3,14,647.00 2,88,313.00 2,53,998.00 2,16,176.00 1,97,091.00
Long-Term
0.00 0.00 0.00 0.00 0.00
Borrowings
Secured Loans 500.00 1,003.00 1,203.00 1,364.00 1,556.00
Unsecured Loans 81,096.00 77,720.00 76,627.00 74,863.00 61,152.00
Deferred Tax Assets /
27,926.00 24,766.00 23,747.00 12,677.00 12,218.00
Liabilities
Other Long Term
504.00 0.00 0.00 0.00 0.00
Liabilities
Long Term Trade
0.00 0.00 0.00 0.00 0.00
Payables
Long Term
2,205.00 2,118.00 1,066.00 1,404.00 0.00
Provisions
Total Non-Current
1,12,231.00 1,05,607.00 1,02,643.00 90,308.00 74,926.00
Liabilities
Trade Payables 88,675.00 68,161.00 54,521.00 54,470.00 57,862.00
Current Liabilities
Other Current
85,815.00 60,817.00 54,852.00 19,063.00 10,767.00
Liabilities
Short Term
918.00 1,268.00 1,170.00 4,854.00 4,167.00
Provisions
Total Current
1,90,647.00 1,52,826.00 1,25,033.00 91,301.00 95,566.00
Liabilities
Total Liabilities 6,17,525.00 5,46,746.00 4,81,674.00 3,97,785.00 3,67,583.00
Non-Current Assets 0.00 0.00 0.00 0.00 0.00
ASSETS
Gross Block 3,53,009.00 2,97,352.00 2,82,212.00 2,36,062.00 2,22,565.00
Less: Accumulated
1,52,045.00 1,42,774.00 1,34,669.00 1,21,499.00 1,13,159.00
Depreciation
Less: Impairment of
0.00 0.00 0.00 0.00 0.00
Assets
Net Block 2,00,964.00 1,54,578.00 1,47,543.00 1,14,563.00 1,09,406.00
Lease Adjustment
0.00 0.00 0.00 0.00 0.00
A/c
Capital Work in
92,581.00 1,28,283.00 96,994.00 65,178.00 32,673.00
Progress
Intangible assets
6,902.00 4,458.00 13,911.00 10,575.00 9,043.00
under development
Pre-operative
0.00 0.00 0.00 0.00 0.00
Expenses pending
Assets in transit 0.00 0.00 0.00 0.00 0.00
Non Current
1,71,945.00 1,40,544.00 1,15,134.00 62,058.00 52,692.00
Investments
Long Term Loans &
19,659.00 12,286.00 15,227.00 29,259.00 28,436.00
Advances
Other Non Current
1,562.00 316.00 327.00 0.00 0.00
Assets
Total Non-Current
4,93,613.00 4,40,465.00 3,89,136.00 2,81,633.00 2,32,250.00
Assets
Total Reserves 3,08,297.00 2,85,058.00 2,50,732.00 2,12,923.00 1,93,842.00
Current Assets
Loans & Advances
Currents Investments 53,277.00 51,906.00 42,116.00 50,515.00 33,370.00
Inventories 39,568.00 34,018.00 28,034.00 36,551.00 42,932.00
Cash and Bank 2,731.00 1,754.00 6,892.00 11,571.00 36,624.00
Other Current Assets 8,999.00 3,601.00 1,681.00 547.00 466.00
Short Term Loans
8,877.00 9,530.00 10,320.00 12,307.00 11,277.00
and Advances
Total Current
1,23,912.00 1,06,281.00 92,538.00 1,16,152.00 1,35,333.00
Assets
Net Current Assets
(Including Current -66,735.00 -46,545.00 -32,495.00 24,851.00 39,767.00
Investments)
Total Current Assets
Excluding Current 70,635.00 54,375.00 50,422.00 65,637.00 1,01,963.00
Investments
Miscellaneous
Expenses not written 0.00 0.00 0.00 0.00 0.00
off
Total Assets 6,17,525.00 5,46,746.00 4,81,674.00 3,97,785.00 3,67,583.00
Total Debt 1,16,881.00 1,07,446.00 1,07,104.00 97,620.00 89,965.00
Book Value ( in ₹) 496.66 0.00 783.86 667.98 609.76
Adjusted Book Value
496.66 0.00 783.86 667.98 609.76
(in ₹)
 Annexure- 2

Profit & Loss of Last Five Years

MAR'18 MAR'17 MAR'16 MAR'15 MAR'14
Parameters
(₹ Cr.) (₹ Cr.) (₹ Cr.) (₹ Cr.) (₹ Cr.)
Gross Sales 3,15,357.00 2,65,041.00 2,51,241.00 3,40,814.00 4,01,302.00
Less :Inter divisional
0.00 0.00 0.00 0.00 0.00
transfers
Less: Sales Returns 0.00 0.00 0.00 0.00 0.00
Less: Excise 25,315.00 23,016.00 18,083.00 11,738.00 11,185.00
Net Sales 2,90,042.00 2,42,025.00 2,33,158.00 3,29,076.00 3,90,117.00
EXPENDITURE:
Increase/Decrease in
-3,327.00 -4,605.00 4,619.00 2,247.00 410.00
Stock
Raw Materials
2,05,297.00 1,69,411.00 1,57,010.00 2,63,132.00 3,29,837.00
Consumed
Power & Fuel Cost 13,565.00 10,150.00 9,809.00 12,299.00 10,153.00
Employee Cost 4,740.00 4,434.00 4,262.00 3,686.00 3,370.00
Other Manufacturing
8,113.00 7,821.00 7,141.00 7,021.00 6,544.00
Expenses
General and
Administration 4,035.00 4,320.00 4,502.00 2,347.73 2,293.00
Expenses
Selling and
Distribution 7,111.00 8,436.00 8,261.00 7,406.00 6,782.00
Expenses
Miscellaneous
896.00 763.00 714.00 908.27 677.00
Expenses
Expenses Capitalized 2,092.00 1,961.00 2,507.00 1,573.00 715.00
Total Expenditure 2,38,338.00 1,98,769.00 1,93,811.00 2,97,474.00 3,59,351.00
Other Income 8,257.00 8,709.00 7,821.00 8,721.00 9,047.00
Operating Profit 59,961.00 51,965.00 47,168.00 40,323.00 39,813.00
Interest 4,656.00 2,723.00 2,562.00 2,367.00 3,206.00
PBDT 55,305.00 49,242.00 44,606.00 37,956.00 36,607.00
Depreciation 9,580.00 8,465.00 8,590.00 8,488.00 8,789.00
Profit Before
Taxation 45,725.00 40,777.00 36,016.00 29,468.00 27,818.00
& Exceptional Items
Exceptional Income /
0.00 0.00 0.00 0.00 0.00
Expenses
Profit Before Tax 45,725.00 40,777.00 40,777.00 29,468.00 27,818.00
Provision for Tax 12,113.00 9,352.00 8,632.00 6,749.00 5,834.00
PAT 33,612.00 31,425.00 27,384.00 22,719.00 21,984.00
Extraordinary Items 0.00 0.00 0.00 0.00 0.00
Adj. to Profit After
4.00 0.00 0.00 0.00 0.00
Tax
Profit Balance B/F 29,485.00 22,850.00 24,725.00 9,326.00 8,610.00
Appropriations 63,101.00 54,275.00 52,109.00 32,045.00 30,594.00
Equity Dividend (%) 60.00 110.00 105.00 100.00 95.00
Earnings Per Share
53.06 96.66 84.5270.21 70.21 68.02
(in ₹)
Book Value (in ₹) 496.66 886.83 783.86 667.98 609.76
 Annexure-3

Financial Summary (RATIOS) Of 5 Years

MAR'18 MAR'17 MAR'16 MAR'15 MAR'14
Parameters
(₹ Cr.) (₹ Cr.) (₹ Cr.) (₹ Cr.) (₹ Cr.)
Operational &
Financial
Ratios:
Earnings Per
53.06 96.66 84.52 70.21 68.02
Share (Rs)
DPS(Rs) 6.00 11.00 10.50 10.00 9.50
Book
496.66 886.83 783.86 667.98 609.76
NAV/Share(Rs)
Margin
Ratios:
Yield on
0.00 0.00 0.00 0.00 0.00
Advances
Yield on
0.00 0.00 0.00 0.00 0.00
Investments
Cost of
0.00 0.00 0.00 0.00 0.00
Liabilities
NIM 0.00 0.00 0.00 0.00 0.00
Interest Spread 0.00 0.00 0.00 0.00 0.00
Performance
Ratios:
ROA (%) 5.77 6.11 6.23 5.94 6.41
ROE (%) 11.15 11.59 11.65 11.00 11.69
ROCE (%) 12.18 11.49 11.43 10.60 11.52
Efficiency
Ratios:
Cost Income
0.00 0.00 0.00 0.00 0.00
Ratio
Core Cost
0.00 0.00 0.00 0.00 0.00
Income Ratio
Operating
0.00 0.00 0.00 0.00 0.00
Costs to Assets
Capitalization
Ratios:
Tier 2 ratio 0.00 0.00 0.00 0.00 0.00
CAR 0.00 0.00 0.00 0.00 0.00
Valuation
Parameters:
PER(x) 16.64 6.82 12.37 11.75 13.67
PCE(x) 12.95 10.75 9.41 8.55 9.76
Price / Book(x) 1.78 1.49 1.33 1.23 1.52
Yield(%) 0.68 0.83 1.00 1.21 1.02
EV / Net
2.32 2.21 1.88 1.07 0.91
Sales(x)
EV / Core
11.23 10.29 9.30 8.75 8.89
EBITDA(x)
EV / EBIT(x) 13.37 12.29 11.38 11.09 11.40
EV / CE(x) 1.09 0.98 0.91 0.89 0.96
M Cap / Sales 1.93 1.77 1.45 0.81 0.77
Growth Ratio:
Core Operating
70.99 6.28 8.24 -26.17 5.60
Income Growth
Operating
15.39 10.17 16.98 1.28 2.65
Profit Growth
Net Profit
6.96 14.76 20.53 3.34 4.67
Growth
BVPS Growth -44.00 13.14 17.35 9.55 10.03
Advances
0.00 0.00 0.00 0.00 0.00
Growth
EPS Growth
-45.11 14.37 20.38 3.22 4.57
(%)
Liquidity
Ratios:
Loans /
0.00 0.00 0.00 0.00 0.00
Deposits(x)
Total Debt /
0.00 0.00 0.00 0.00 0.00
Equity(x)
Current
0.00 0.00 0.00 0.00 0.00
Ratio(x)
Quick Ratio(x) 0.00 0.00 0.00 0.00 0.00
Total Debt / M
0.00 0.00 0.00 0.00 0.00
cap(x)
Net NPA in Rs.
0.00 0.00 0.00 0.00 0.00
Million