The Ramco Cements Limited NSEI RAMCOCEM Financials

The Ramco Cements Limited (NSEI:RAMCOCEM) > Financials > Key Stats
In Millions of the trading currency, except per share items. Currency: Trading Currency Conversion: Today's Spot Rate
Order: Latest on Right Units: S&P Capital IQ (Default)
Decimals: Capital IQ (Default) Dilution: Basic
Key Financials¹
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Mar-31-2012A Mar-31-2013A Mar-31-2014A Mar-31-2015A Mar-31-2016A Mar-31-2017A
Currency INR INR INR INR INR INR
Total Revenue 32,270.1 38,416.5 37,199.2 37,169.8 36,217.4 39,732.0

Growth Over Prior Year 23.3% 19.0% (3.2%) (0.1%) (2.6%) 9.7%
Gross Profit 18,494.5 22,131.5 18,733.3 29,670.7 29,634.9 27,108.6

Margin % 57.3% 57.6% 50.4% 79.8% 81.8% 68.2%
EBITDA 9,743.6 10,482.3 6,327.4 8,118.9 11,350.0 12,184.3

Margin % 30.2% 27.3% 17.0% 21.8% 31.3% 30.7%
EBIT 7,204.6 7,640.6 3,291.8 5,489.8 8,197.5 9,434.3

Margin % 22.3% 19.9% 8.8% 14.8% 22.6% 23.7%
Earnings from Cont. Ops. 3,851.1 4,036.5 1,144.8 2,465.1 5,453.2 6,639.8
Margin % 11.9% 10.5% 3.1% 6.6% 15.1% 16.7%
Net Income 3,851.1 4,036.5 1,145.5 2,461.3 5,452.3 6,627.4

Margin % 11.9% 10.5% 3.1% 6.6% 15.1% 16.7%
Diluted EPS Excl. Extra Items³ 16.16 16.94 4.81 10.33 23.64 28.78
Growth Over Prior Year 82.5% 4.8% (71.6%) 114.9% 128.9% 21.7%
¹All results are taken from the most recently filed statement for each period. When there has been more than one, earlier filings can be viewed on the individual statement pages.
²Growth rates for the LTM period are calculated against the LTM period ending 12 months before.
³All forward period figures are consensus mean estimates provided by the brokers and may not be on a comparable basis as financials.
†Growth rates for forward periods are calculated against prior period estimates or actual pro forma results as disclosed on the Estimates Consensus page.
Current Capitalization (Millions of INR)
Currency INR
Share Price 732.8
Shares Out. 235.9
Market Capitalization 172,860.2

- Cash & Short Term Investments 763.8
+ Total Debt 35,704.4
+ Pref. Equity -
+ Total Minority Interest 74.6
- Long Term Marketable Securities -
= Total Enterprise Value (TEV) 207,875.4
Book Value of Common Equity 64,273.2

+ Pref. Equity -
+ Total Minority Interest 74.6
+ Total Debt 35,704.4
= Total Capital 100,052.2
**For companies that have multiple share classes that publicly trade,
we are incorporating the different prices to calculate our company level
Total Liability includes Total Debt, Minority Interest and Pref. Equity.
Net Liability includes Total Liability, net of Cash and Short Term Investments.
TEV includes Market Cap and Net Liability.
Total Capital includes Common Equity and Total Liability.
Valuation Multiples
For the Fiscal based on Current Capitalization
Period Ending 12 months 12 months 12 months 12 months 12 months
Mar-31-2021A Dec-31-2021A Mar-31-2022E Mar-31-2023E Mar-31-2024E
TEV/Total Revenue 3.8x 3.5x 3.33x 2.82x 2.48x
TEV/EBITDA 12.8x 14.3x 14.90x 11.71x 9.99x
TEV/EBIT 16.5x 19.6x 20.86x 15.89x 13.17x
P/Diluted EPS Before Extra 21.6x 17.5x 21.51x 19.29x 15.31x
P/BV 3.0x 2.7x 2.62x 2.33x 2.05x
Price/Tang BV 3.1x 2.7x - - -

12 months 12 months 12 months 12 months 12 months 12 months†
Mar-31-2018A Mar-31-2019A Mar-31-2020A Mar-31-2021A Dec-31-2021A Mar-31-2022E
INR INR INR INR INR INR
44,250.7 51,623.4 53,893.0 52,910.0 59,240.2 61,655.04

11.4% 16.7% 4.4% (1.8%) 17.3% 16.53%
28,573.5 31,692.0 33,616.4 35,343.0 37,546.8 -

64.6% 61.4% 62.4% 66.8% 63.4% 88.50%
11,205.8 10,449.2 11,471.1 15,647.2 14,523.9 13,793.35

25.3% 20.2% 21.3% 29.6% 24.5% 22.37%
8,383.4 7,539.4 8,413.9 12,126.4 10,655.4 9,853.43

18.9% 14.6% 15.6% 22.9% 18.0% 15.98%
5,655.0 5,114.3 6,050.7 7,843.3 9,796.0 -

12.8% 9.9% 11.2% 14.8% 16.5% -
5,641.8 5,107.2 6,041.4 7,836.4 9,790.7 7,922.28

12.7% 9.9% 11.2% 14.8% 16.5% 12.85%
24.62 22.0 26.0 34.0 41.97 33.61

(14.5%) (10.6%) 18.2% 30.8% 35.3% (1.15%)
The Ramco Cements Limited (NSEI:RAMCOCEM) > Financials > Income Statement
In Millions of the reported currency, except per share items. Template: Standard Restatement: Latest Filings
Period Type: Annual Order: Latest on Right
Currency: Reported Currency Conversion: Today's Spot Rate
Units: S&P Capital IQ (Defaul Decimals: Capital IQ (Default)
Source: Capital IQ & Proprietar
Income Statement
Mar-31-2012 Mar-31-2013 Mar-31-2014 Mar-31-2015 Mar-31-2016 Mar-31-2017
Revenue 32,236.2 38,308.0 36,835.2 36,553.5 35,817.6 39,673.3

Other Revenue 33.9 108.5 364.0 616.3 399.8 58.7
Total Revenue 32,270.1 38,416.5 37,199.2 37,169.8 36,217.4 39,732.0
Cost Of Goods Sold 13,775.6 16,285.0 18,465.9 7,499.1 6,582.5 12,623.4

Gross Profit 18,494.5 22,131.5 18,733.3 29,670.7 29,634.9 27,108.6
Selling General & Admin Exp. 8,839.3 11,748.4 12,423.6 3,274.2 3,128.2 11,008.4
Provision for Bad Debts 41.5 20.6 6.0 6.5 2.8 7.2
R & D Exp. - - - - - -
Depreciation & Amort. 2,539.0 2,805.8 3,064.3 2,512.4 3,052.6 2,858.3
Other Operating Expense/(Income) (129.9) (83.9) (52.4) 18,387.8 15,253.8 3,800.4
Other Operating Exp., Total 11,289.9 14,490.9 15,441.5 24,180.9 21,437.4 17,674.3
Operating Income 7,204.6 7,640.6 3,291.8 5,489.8 8,197.5 9,434.3
Interest Expense (1,390.0) (1,652.5) (1,830.8) (1,908.0) (1,818.5) (1,038.4)

Interest and Invest. Income 59.9 92.8 70.4 50.7 80.8 230.0
Net Interest Exp. (1,330.1) (1,559.7) (1,760.4) (1,857.3) (1,737.7) (808.4)
Income/(Loss) from Affiliates - - - 28.1 140.6 97.7

Currency Exchange Gains (Loss) (268.4) (156.8) (56.1) 7.8 39.0 1.8
Other Non-Operating Inc. (Exp.) (35.0) (28.0) (154.4) (42.7) 47.4 10.6
EBT Excl. Unusual Items 5,571.1 5,896.1 1,320.9 3,625.7 6,686.8 8,736.0
Impairment of Goodwill - - - - - -
Gain (Loss) On Sale Of Invest. - (0.1) 0.2 0.3 92.6 0.5
Gain (Loss) On Sale Of Assets 7.9 (13.9) (5.6) 2.5 (3.8) 7.3
Asset Writedown - - (5.4) (16.0) (5.8) (77.0)
Other Unusual Items (4.8) - - - - -
EBT Incl. Unusual Items 5,574.2 5,882.1 1,310.1 3,612.5 6,769.8 8,666.8
Income Tax Expense 1,723.1 1,845.6 165.3 1,147.4 1,316.6 2,027.0

Earnings from Cont. Ops. 3,851.1 4,036.5 1,144.8 2,465.1 5,453.2 6,639.8
Earnings of Discontinued Ops. - - - - - -

Extraord. Item & Account. Change - - - - - -
Net Income to Company 3,851.1 4,036.5 1,144.8 2,465.1 5,453.2 6,639.8
Minority Int. in Earnings - - 0.7 (3.8) (0.9) (12.4)

Net Income 3,851.1 4,036.5 1,145.5 2,461.3 5,452.3 6,627.4
Pref. Dividends and Other Adj. - - - - - -
NI to Common Incl Extra Items 3,851.1 4,036.5 1,145.5 2,461.3 5,452.3 6,627.4
NI to Common Excl. Extra Items 3,851.1 4,036.5 1,145.5 2,461.3 5,452.3 6,627.4
Per Share Items

Basic EPS 16.16 16.94 4.81 10.33 23.64 28.78
Basic EPS Excl. Extra Items 16.16 16.94 4.81 10.33 23.64 28.78
Weighted Avg. Basic Shares Out. 238.3 238.3 238.3 238.3 230.6 230.3
Diluted EPS 16.16 16.94 4.81 10.33 23.64 28.78

Diluted EPS Excl. Extra Items 16.16 16.94 4.81 10.33 23.64 28.78
Weighted Avg. Diluted Shares Out. 238.3 238.3 238.3 238.3 230.6 230.3
Normalized Basic EPS 14.61 15.46 3.47 9.49 18.12 23.65

Normalized Diluted EPS 14.61 15.46 3.47 9.49 18.12 23.65
Dividends per Share 2.5 3.0 1.0 1.5 3.0 3.0

Payout Ratio % 23.4% 17.2% 24.3% 11.3% 19.7% NA
Supplemental Items
EBITDA 9,743.6 10,482.3 6,327.4 8,118.9 11,350.0 12,184.3
EBITA 7,204.6 7,640.6 3,239.9 5,697.3 8,235.6 9,477.8
EBIT 7,204.6 7,640.6 3,291.8 5,489.8 8,197.5 9,434.3
EBITDAR 9,799.7 10,570.1 6,452.9 8,224.9 11,458.1 12,297.6
As Reported Total Revenue* 32,565.8 38,726.6 37,468.1 37,402.7 42,148.8 46,219.6
Effective Tax Rate % 30.9% 31.4% 12.6% 31.8% 19.4% 23.4%
Current Domestic Taxes 1,121.3 1,173.8 (43.7) 87.7 NA NA
Total Current Taxes 1,121.3 1,173.8 (43.7) 87.7 1,260.0 1,882.1
Deferred Domestic Taxes 601.8 671.8 209.0 1,059.7 NA NA
Total Deferred Taxes 601.8 671.8 209.0 1,059.7 56.6 144.9
Normalized Net Income 3,481.9 3,685.1 826.3 2,262.3 4,178.4 5,447.6

Interest Capitalized NA NA NA NA NA NA
Interest on Long Term Debt NA NA NA NA 142.2 407.8
Non-Cash Pension Expense 31.0 25.7 29.4 46.3 29.1 21.7
Filing Date Jun-30-2013 Jul-01-2014 Jul-08-2015 Jul-04-2016 Aug-21-2017 Jun-29-2018
Restatement Type RC RC RC RC RS RC
Calculation Type REP REP REP REP REP REP
Supplemental Operating Expense Items

Advertising Exp. 208.8 770.8 946.9 875.3 426.1 727.2
Selling and Marketing Exp. 6,192.7 8,561.4 9,315.0 875.3 426.1 8,109.9
General and Administrative Exp. 680.2 911.9 480.5 NA NA NA
R&D Exp. 89.9 93.6 NA NA NA NA
Net Rental Exp. 56.1 87.8 125.5 106.0 108.1 113.3
Imputed Oper. Lease Interest Exp. 22.7 43.2 65.9 57.3 63.6 51.0
Imputed Oper. Lease Depreciation 33.4 44.6 59.6 48.7 44.5 62.3
Maintenance & Repair Exp. 523.4 669.5 755.6 693.7 694.3 755.4
Stock-Based Comp., SG&A Exp. - - - - - -

Stock-Based Comp., Total - - - - - -
* Occasionally, certain items classified as Revenue by the company will be re-classified as other income if it is deemed to be non-recurring and unrelated to the core business of the firm. This field shows Total Revenue exa
Note: For multiple class companies, per share items are primary class equivalent, and for foreign companies listed as primary ADRs, per share items are ADR-equivalent.
12 months 12 months 12 months 12 months 12 months
Mar-31-2018 Mar-31-2019 Mar-31-2020 Mar-31-2021 Dec-31-2021
INR INR INR INR INR
44,250.4 51,623.4 53,893.0 52,910.0 59,255.4

0.3 - - - (15.2)
44,250.7 51,623.4 53,893.0 52,910.0 59,240.2
15,677.2 19,931.4 20,276.6 17,567.0 21,693.4

28,573.5 31,692.0 33,616.4 35,343.0 37,546.8
13,316.9 16,359.8 17,027.2 14,995.2 17,165.7

4.2 - - 22.7 22.7
- - - - -
2,936.8 2,999.6 3,165.4 3,565.6 3,904.9
3,932.2 4,793.2 5,009.9 4,633.1 5,798.1
20,190.1 24,152.6 25,202.5 23,216.6 26,891.4
8,383.4 7,539.4 8,413.9 12,126.4 10,655.4
(577.1) (488.7) (661.7) (790.7) (856.1)

127.4 80.6 119.3 92.4 92.4
(449.7) (408.1) (542.4) (698.3) (763.7)
49.7 39.7 6.8 207.5 (22.7)

(0.5) (5.9) 21.3 38.2 38.2
89.5 40.5 27.9 (14.4) (52.9)
8,072.4 7,205.6 7,927.5 11,659.4 9,854.3
- - - - -
0.2 - - 2.1 2.1
(10.7) 14.8 1.7 0.9 0.9
(95.0) - - - -
- - - (19.9) (19.9)
7,966.9 7,220.4 7,929.2 11,642.5 9,837.4
2,311.9 2,106.1 1,878.5 3,799.2 41.4

5,655.0 5,114.3 6,050.7 7,843.3 9,796.0
- - - - -
- - - - -
5,655.0 5,114.3 6,050.7 7,843.3 9,796.0
(13.2) (7.1) (9.3) (6.9) (5.3)

5,641.8 5,107.2 6,041.4 7,836.4 9,790.7
- - - - -
5,641.8 5,107.2 6,041.4 7,836.4 9,790.7

5,641.8 5,107.2 6,041.4 7,836.4 9,790.7
24.62 22.39 26.5 34.34 42.32

24.62 22.39 26.5 34.34 42.32
229.2 228.1 228.0 228.2 231.3
24.62 22.0 26.0 34.0 41.97

24.62 22.0 26.0 34.0 41.97
229.2 228.1 228.5 228.6 231.7
21.95 19.71 21.69 31.9 26.6

21.95 19.71 21.64 31.85 26.55
3.0 3.0 2.5 3.0 NA

12.5% 13.9% 21.5% 8.5% NA
11,205.8 10,449.2 11,471.1 15,647.2 14,523.9
8,409.7 7,562.0 8,442.5 12,162.0 10,655.4
8,383.4 7,539.4 8,413.9 12,126.4 10,655.4
11,333.6 10,586.6 11,608.1 15,785.3 NA
46,176.7 51,873.0 54,228.0 53,213.7 59,505.4
29.0% 29.2% 23.7% 32.6% 0.4%
NA NA NA NA NA
2,011.0 1,853.6 1,401.3 2,446.1 2,910.4
NA NA NA NA NA
300.9 252.5 477.2 1,353.1 (2,869.0)
5,032.1 4,496.4 4,945.4 7,280.2 6,153.6

33.1 NA 166.1 274.3 NA
573.6 488.7 661.7 790.7 NA
31.0 54.1 (4.0) 69.6 -
Jul-09-2019 Aug-13-2020 Jul-21-2021 Jul-21-2021 Jan-24-2022
RS NC NC O P
REP REP REP REP LTM
813.0 965.3 1,707.1 410.1 NA

10,091.9 12,843.0 13,084.2 10,669.6 12,678.0
NA NA NA NA NA
NA NA NA 46.8 46.8
127.8 137.4 137.0 138.1 NA
47.0 36.9 37.8 37.7 -
80.8 100.5 99.2 100.4 -
920.8 990.9 1,127.3 1,055.4 NA
- - 215.2 195.4 195.4

- - 215.2 195.4 195.4
Revenue exactly as reported by the firm on its consolidated statement of income.

The Ramco Cements Limited (NSEI:RAMCOCEM) > Financials > Balance Sheet
Balance Sheet
Balance Sheet as of: Reclassified Reclassified Reclassified Restated Restated
ASSETS
Cash And Equivalents 474.9 539.6 454.0 628.6 911.3 833.4
Short Term Investments - - - - - -
Total Cash & ST Investments 474.9 539.6 454.0 628.6 911.3 833.4
Accounts Receivable 2,079.4 3,100.4 3,071.3 3,825.4 4,731.3 5,569.3

Other Receivables 633.7 428.1 550.6 439.7 588.0 376.9
Notes Receivable 164.6 284.6 142.0 131.2 209.8 272.8
Total Receivables 2,877.7 3,813.1 3,763.9 4,396.3 5,529.1 6,219.0
Inventory 4,910.9 5,947.5 6,855.3 5,216.5 5,501.7 5,765.7

Prepaid Exp. 47.7 132.2 105.9 61.9 59.5 56.8
Restricted Cash - - - - - 39.6
Other Current Assets 2,050.3 1,956.8 1,010.3 881.3 1,340.2 1,303.3
Total Current Assets 10,361.5 12,389.2 12,189.4 11,184.6 13,341.8 14,217.8
Gross Property, Plant & Equipment 61,299.3 64,721.5 68,517.0 72,772.0 76,034.2 78,519.8
Accumulated Depreciation (15,433.8) (18,107.9) (19,933.5) (22,360.8) (25,181.0) (27,540.8)
Net Property, Plant & Equipment 45,865.5 46,613.6 48,583.5 50,411.2 50,853.2 50,979.0
Long-term Investments 887.4 887.5 882.8 1,421.1 1,952.5 2,104.5

Other Intangibles 561.5 891.9 1,452.2 1,040.6 877.7 872.3
Accounts Receivable Long-Term 31.6 14.9 16.2 20.6 - -
Loans Receivable Long-Term 104.4 126.6 179.5 194.7 134.9 149.4
Deferred Tax Assets, LT - - - - - -
Other Long-Term Assets 2,770.5 3,790.1 5,151.4 5,784.7 2,282.8 2,382.1
Total Assets 60,582.4 64,713.8 68,455.0 70,057.5 69,442.9 70,705.1
LIABILITIES
Accounts Payable 939.3 1,430.8 1,759.0 2,295.8 2,148.0 2,562.2
Accrued Exp. 153.1 181.2 139.1 572.9 883.3 836.1
Short-term Borrowings 6,131.9 5,880.8 7,236.2 5,536.1 7,016.6 6,803.6
Curr. Port. of LT Debt 5,964.7 6,859.1 6,662.0 4,532.1 4,502.7 2,916.1
Curr. Port. of Leases - - - - - -
Curr. Income Taxes Payable 1,110.6 1,173.8 323.0 319.0 55.6 45.4
Unearned Revenue, Current - - - - 176.2 309.1
Other Current Liabilities 753.6 598.3 927.3 1,030.7 5,550.1 6,782.3
Total Current Liabilities 15,053.2 16,124.0 17,046.6 14,286.6 20,332.5 20,254.8
Long-Term Debt 15,007.5 13,930.6 15,203.5 17,273.4 10,594.6 5,110.4

Long-Term Leases - - - - - -
Unearned Revenue, Non-Current - - - - 77.1 114.8
Def. Tax Liability, Non-Curr. 6,491.8 7,163.6 7,372.6 8,276.1 7,083.9 7,215.0
Other Non-Current Liabilities 3,526.1 3,788.0 4,240.8 3,959.1 16.4 36.1
Total Liabilities 40,078.6 41,006.2 43,863.5 43,795.2 38,104.5 32,731.1
Common Stock 238.0 238.0 238.0 238.1 238.1 238.1

Additional Paid In Capital - - - - - -
Retained Earnings 20,252.0 23,455.8 24,322.5 25,989.3 29,324.8 36,678.9
Treasury Stock - - - - - -
Comprehensive Inc. and Other 13.8 13.8 28.8 28.8 1,768.5 1,037.6
Total Common Equity 20,503.8 23,707.6 24,589.3 26,256.2 31,331.4 37,954.6
Minority Interest - - 2.2 6.1 7.0 19.4
Total Equity 20,503.8 23,707.6 24,591.5 26,262.3 31,338.4 37,974.0
Total Liabilities And Equity 60,582.4 64,713.8 68,455.0 70,057.5 69,442.9 70,705.1
Supplemental Items
Total Shares Out. on Filing Date 238.0 238.0 238.0 238.1 238.1 238.1
Total Shares Out. on Balance Sheet Date 238.0 238.0 238.0 238.1 238.1 238.1
Book Value/Share 86.16 99.62 103.33 110.28 131.6 159.42
Tangible Book Value 19,942.3 22,815.7 23,137.1 25,215.6 30,453.7 37,082.3
Tangible Book Value/Share 83.8 95.88 97.23 105.91 127.92 155.76
Total Debt 27,104.1 26,670.5 29,101.7 27,341.6 22,113.9 14,830.1
Net Debt 26,629.2 26,130.9 28,647.7 26,713.0 21,202.6 13,996.7
Debt Equiv. of Unfunded Proj. Benefit Obligation 126.2 142.3 165.2 187.2 214.8 234.6
Debt Equivalent Oper. Leases 448.8 702.4 1,004.0 848.0 864.8 906.4
Total Minority Interest NA NA 2.2 6.1 7.0 19.4
Equity Method Investments NA NA 369.1 906.8 1,698.9 1,839.2
Inventory Method Avg Cost Avg Cost Avg Cost Avg Cost Avg Cost Avg Cost
Raw Materials Inventory 1,372.2 1,453.8 1,781.2 1,561.5 1,712.9 1,955.5
Work in Progress Inventory 478.6 606.0 533.9 603.8 589.1 484.8
Finished Goods Inventory 350.9 723.5 600.7 500.9 454.0 406.0
Other Inventory Accounts 2,709.2 3,164.2 3,939.5 2,550.3 2,745.7 2,919.4
Land 3,392.7 3,622.9 4,019.4 4,341.9 5,057.7 5,489.5
Buildings 4,228.8 4,840.1 5,045.6 6,643.1 7,720.0 8,125.3
Machinery 47,459.4 53,767.9 54,806.9 58,056.0 60,261.0 62,310.8
Construction in Progress 5,223.4 1,479.6 3,495.2 2,575.8 1,383.1 974.2
Full Time Employees 2,626 2,787 2,937 2,883 2,846 2,883
Accum. Allowance for Doubtful Accts NA 30.0 30.0 30.0 102.5 99.2
Restatement Type RC RC RD RS RS NC
Note: For multiple class companies, total share counts are primary class equivalent, and for foreign companies listed as primary ADRs, total share counts are ADR-equivalent.
Restated Press Release
INR INR INR INR INR
890.4 596.3 639.3 1,081.1 -

- 60.0 - - -
890.4 656.3 639.3 1,081.1 763.8
4,464.9 4,956.9 5,329.4 3,828.5 -

362.0 814.3 1,801.4 1,615.8 -
247.5 274.1 298.2 277.3 -
5,074.4 6,045.3 7,429.0 5,721.6 -
5,612.5 5,610.8 6,468.8 5,993.4 -

108.1 260.4 160.8 215.1 -
37.4 32.6 25.8 66.1 -
1,263.1 1,199.7 1,033.4 1,511.8 -
12,985.9 13,805.1 15,757.1 14,589.1 -
82,605.0 92,433.8 111,299.8 128,495.2 -

(29,828.1) (32,292.4) (34,693.3) (37,479.4) -
52,776.9 60,141.4 76,606.5 91,015.8 -
2,416.8 2,607.4 2,775.9 3,070.6 -

766.5 764.9 821.4 869.8 -
- - - - -
140.8 164.5 280.7 431.3 -
- 4.2 4.0 3.5 -
2,607.6 4,550.4 5,082.0 4,569.1 -
71,694.5 82,037.9 101,327.6 114,549.2 -
2,683.3 2,583.6 3,429.8 3,645.2 -

1,090.9 880.3 753.1 1,239.3 -
6,359.6 8,277.3 8,337.0 3,914.1 -
1,191.6 2,064.1 3,916.9 6,169.8 -
- - 1.0 1.1 -
0.3 - - 0.1 -
618.0 580.0 657.9 1,238.2 -
6,296.6 6,290.2 6,267.5 7,985.9 -
18,240.3 20,675.5 23,363.2 24,193.7 -
4,187.8 7,011.8 18,323.4 21,626.2 -

- - 80.6 79.5 -
127.1 130.7 128.3 114.5 -
7,886.5 8,646.0 9,121.9 10,834.6 -
86.5 156.9 240.3 320.6 -
30,528.2 36,620.9 51,257.7 57,169.1 -
235.6 235.6 235.6 235.9 -

- - - 222.4 -
40,294.9 44,523.6 48,931.7 56,007.0 -
- - - - -
595.9 610.8 846.2 851.7 -
41,126.4 45,370.0 50,013.5 57,317.0 64,273.2
39.9 47.0 56.4 63.1 -
41,166.3 45,417.0 50,069.9 57,380.1 64,347.8
71,694.5 82,037.9 101,327.6 114,549.2 -
235.6 235.6 235.6 235.9 235.9

235.6 235.6 235.6 235.9 235.9
174.58 192.59 212.3 242.98 272.35
40,359.9 44,605.1 49,192.1 56,447.2 63,267.9
171.32 189.34 208.82 239.29 268.09
11,739.0 17,353.2 30,658.9 31,790.7 35,704.4
10,848.6 16,696.9 30,019.6 30,709.6 34,940.6
255.2 225.8 263.2 317.0 NA
1,022.4 1,099.2 1,096.0 1,104.8 NA
39.9 47.0 56.4 63.1 74.6
2,123.1 2,319.9 2,498.9 2,790.9 NA
Avg Cost Avg Cost Avg Cost Avg Cost NA
1,805.7 1,569.2 1,821.9 1,812.9 NA
559.7 400.1 537.7 398.2 NA
361.9 338.5 674.8 349.1 NA
2,885.2 3,303.0 3,434.4 3,433.2 NA
6,988.7 8,097.9 8,769.8 9,029.5 NA
8,743.9 9,207.5 10,061.5 10,801.1 NA
63,725.5 65,129.7 72,380.9 81,839.0 NA
1,500.3 8,307.7 18,142.7 23,254.6 -
3,034 3,188 3,327 3,374 NA
99.2 69.3 66.0 68.0 NA
Jul-09-2019 Aug-13-2020 Jul-21-2021 Jul-21-2021 NA
RS NC NC O NV
REP REP REP REP FWD
The Ramco Cements Limited (NSEI:RAMCOCEM) > Financials > Cash Flow
Cash
For theFlow
Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Net Income 3,851.1 4,036.5 1,145.5 2,461.3 5,452.3 6,627.4

Depreciation & Amort. 2,539.0 2,841.7 3,087.5 2,421.6 3,114.4 2,706.5
Amort. of Goodwill and Intangibles - - (51.9) 207.5 38.1 43.5
Depreciation & Amort., Total 2,539.0 2,841.7 3,035.6 2,629.1 3,152.5 2,750.0
Other Amortization 89.6 65.9 124.5 107.7 100.4 108.3

(Gain) Loss From Sale Of Assets (7.9) 13.9 5.7 (2.5) 3.8 (7.3)
(Gain) Loss On Sale Of Invest. - 0.1 (0.3) (0.3) (92.3) (0.5)
Asset Writedown & Restructuring Costs - - 5.4 16.0 5.8 77.0
Stock-Based Compensation - - - - - -
Provision & Write-off of Bad debts - - 6.0 6.5 2.8 7.2
Other Operating Activities 2,057.8 2,333.3 1,527.3 2,280.4 1,343.7 761.3
Change in Acc. Receivable 961.1 (1,945.1) (609.0) 7.0 (266.8) (347.4)
Change In Inventories (988.1) (1,036.6) (907.8) 1,638.8 (285.2) (264.0)
Change in Acc. Payable 386.8 468.3 762.2 164.5 1,470.8 1,462.1
Change in Other Net Operating Assets (251.5) 236.0 (9.3) 7.0 - -
Cash from Ops. 8,637.9 7,014.0 5,085.8 9,315.5 10,887.8 11,174.1
Capital Expenditure (5,692.2) (4,019.4) (6,195.2) (4,427.8) (2,989.6) (3,071.3)

Sale of Property, Plant, and Equipment 37.7 26.5 320.0 36.3 9.5 23.5
Cash Acquisitions - - - - - -
Divestitures - - - - - -
Invest. in Marketable & Equity Securt. - - 5.0 (504.5) 197.9 (30.0)
Net (Inc.) Dec. in Loans Originated/Sold - - - - - -
Other Investing Activities 132.1 165.1 158.2 125.4 176.3 276.1
Cash from Investing (5,522.4) (3,827.8) (5,712.0) (4,770.6) (2,605.9) (2,801.7)
Short Term Debt Issued 6,110.9 34,227.4 1,325.7 - 63.8 1,475.3

Long-Term Debt Issued 7,686.5 6,000.0 8,415.0 7,000.0 9,686.0 100.0
Total Debt Issued 13,797.4 40,227.4 9,740.7 7,000.0 9,749.8 1,575.3
Short Term Debt Repaid (3,362.0) (34,592.6) - (1,700.8) - -
Long-Term Debt Repaid (11,243.0) (6,182.5) (7,152.9) (7,060.0) (16,316.2) (7,120.7)
Total Debt Repaid (14,605.0) (40,775.1) (7,152.9) (8,760.8) (16,316.2) (7,120.7)
Issuance of Common Stock - - - - - -

Repurchase of Common Stock - - - - - -
Common Dividends Paid (900.1) (692.4) (278.8) (278.8) (1,072.4) -

Total Dividends Paid (900.1) (692.4) (278.8) (278.8) (1,072.4) -
Special Dividend Paid - - - - - -

Other Financing Activities (1,584.5) (1,645.4) (1,777.7) (2,323.7) (1,858.4) (1,104.2)
Cash from Financing (3,292.2) (2,885.5) 531.3 (4,363.3) (9,497.2) (6,649.6)
Net Change in Cash (176.7) 300.7 (94.9) 181.6 (1,215.3) 1,722.8
Supplemental Items
Cash Interest Paid 1,584.5 1,645.4 1,780.6 2,323.7 1,640.1 1,104.2
Cash Taxes Paid 1,134.5 1,148.2 398.2 690.6 1,702.4 1,908.2
Levered Free Cash Flow (409.9) 1,095.3 (2,243.5) 2,797.0 6,970.5 5,802.4
Unlevered Free Cash Flow 458.9 2,128.1 (1,099.2) 3,989.5 8,107.0 6,451.4
Change in Net Working Capital 980.4 1,535.5 121.5 (2,249.4) (2,720.3) (768.0)
Net Debt Issued (807.6) (547.7) 2,587.8 (1,760.8) (6,566.4) (5,545.4)
Restatement Type NC NC RS RS RS NC
INR INR INR INR INR
5,641.8 5,107.2 6,041.4 7,836.4 -

2,796.1 2,887.2 3,033.3 3,491.9 -
26.3 22.6 28.6 35.6 -
2,822.4 2,909.8 3,061.9 3,527.5 -
114.4 89.8 103.5 38.1 -

10.7 (14.8) (1.7) (0.9) -
(0.2) 0.2 1.7 (2.1) -
95.0 - - - -
- - 215.2 195.4 -
4.2 - 1.4 25.8 -
994.8 808.8 991.7 2,235.7 -
1,211.8 (1,148.4) (1,121.4) 1,299.7 -
153.2 1.7 (858.0) 475.4 -
194.1 172.0 (954.7) 3,292.6 -
- - - - -
11,242.2 7,926.3 7,481.0 18,923.6 -
(4,961.0) (12,069.9) (19,201.0) (17,670.1) -

15.7 45.4 6.4 10.8 -
- - - - -
- - - - -
(101.1) (134.4) (150.0) (99.5) -
- - - - -
146.8 137.9 136.1 (31.6) -
(4,899.6) (12,021.0) (19,208.5) (17,790.4) -
- 4,155.0 922.4 - -
957.4 4,899.5 15,229.8 11,116.5 -
957.4 9,054.5 16,152.2 11,116.5 -
(2,105.2) - - (4,779.4) -
(3,583.6) (1,191.6) (2,064.3) (5,584.6) -
(5,688.8) (1,191.6) (2,064.3) (10,364.0) -
- - - 15.9 -
(1,681.2) - - - -
(707.5) (707.4) (1,296.9) (666.8) -

(707.5) (707.4) (1,296.9) (666.8) -
- - - - -
(809.7) (626.8) (855.2) (738.0) -
(7,929.8) 6,528.7 11,935.8 (636.4) -
(1,587.2) 2,434.0 208.3 496.8 -
665.7 NA 588.6 696.4 NA

1,873.5 1,742.2 1,389.5 2,087.4 NA
4,297.6 (6,071.9) (12,170.1) (2,214.1) NA
4,658.3 (5,766.5) (11,756.5) (1,719.9) NA
(1,442.9) 1,408.3 1,194.8 (4,610.2) NA
(4,731.4) 7,862.9 14,087.9 752.5 NA
Jul-09-2019 Aug-13-2020 Jul-21-2021 Jul-21-2021 Jan-24-2022
RS NC NC O NV
REP REP REP REP NA
The Ramco Cements Limited (NSEI:RAMCOCEM) > Financials > Multiples
View: Data Frequency: Quarterly

Order: Latest on Right Decimals: Capital IQ (Default)
Dilution: Basic
Multiples Detail
In Millions of the reported currency, except per share items.
For Quarter Ending Mar-30-2012 Jun-29-2012 Sep-28-2012 Dec-31-2012 Mar-28-2013

TEV/LTM Total Revenue Average 2.02x 1.93x 1.99x 2.11x 2.27x
High 2.18x 2.17x 2.08x 2.35x 2.37x
Low 1.86x 1.63x 1.93x 2.01x 2.20x
Close 2.16x 1.81x 2.08x 2.33x 2.30x
TEV/NTM Total Revenues Average - 1.68x 1.97x 1.97x 1.99x

High - 1.74x 2.08x 2.17x 2.09x
Low - 1.65x 1.88x 1.81x 1.92x
Close - 1.91x 2.08x 2.04x 2.03x
TEV/LTM EBITDA Average 6.77x 6.53x 6.71x 7.19x 7.80x

High 7.27x 7.25x 7.04x 8.05x 8.21x
Low 6.25x 5.63x 6.54x 6.79x 7.52x
Close 7.20x 6.26x 7.04x 7.98x 7.98x
TEV/NTM EBITDA Average - 7.13x 8.33x 7.64x 7.25x

High - 7.39x 8.81x 9.19x 7.62x
Low - 6.99x 7.99x 6.59x 6.99x
Close - 8.14x 8.81x 7.41x 7.41x
TEV/LTM EBIT Average 9.26x 8.75x 8.98x 9.58x 10.39x

High 9.90x 9.86x 9.40x 10.71x 10.93x
Low 8.63x 7.36x 8.74x 9.07x 10.00x
Close 9.80x 8.19x 9.40x 10.61x 10.64x
TEV/NTM EBIT Average - 10.67x 12.34x 10.79x 9.80x

High - 11.05x 13.02x 13.52x 10.25x
Low - 10.46x 11.95x 8.94x 9.48x
Close - 12.17x 12.95x 10.06x 9.97x
P/LTM EPS Average 8.93x 9.47x 10.23x 11.61x 13.33x

High 10.42x 10.35x 11.21x 13.76x 14.53x
Low 7.28x 8.43x 9.58x 10.57x 12.45x
Close 10.24x 9.98x 11.21x 13.58x 13.97x
P/NTM EPS Average - 13.39x 14.63x 13.14x 11.20x

High - 14.14x 15.92x 17.03x 12.14x
Low - 12.98x 13.71x 10.37x 10.58x
Close - 14.14x 15.92x 12.39x 11.23x
P/LTM Normalized EPS Average 9.65x 10.33x 11.22x 12.76x 14.71x

High 11.27x 11.19x 12.23x 15.18x 16.03x
Low 7.86x 9.32x 10.60x 11.54x 13.74x
Close 11.08x 11.04x 12.23x 14.98x 15.41x
P/BV Average 1.61x 1.75x 2.00x 2.14x 2.35x

High 1.91x 1.90x 2.24x 2.42x 2.57x
Low 1.25x 1.57x 1.80x 1.97x 2.19x
Close 1.88x 1.85x 2.24x 2.39x 2.47x
P/Tangible BV Average 1.61x 1.75x 2.06x 2.17x 2.35x

High 1.91x 1.90x 2.30x 2.46x 2.57x
Low 1.25x 1.57x 1.85x 1.97x 2.19x
Close 1.88x 1.85x 2.30x 2.39x 2.47x
P/NTM CFPS Average - - - - -

High - - - - -
Low - - - - -
Close - - - - -
TEV/LTM Unlevered FCF Average - - - - -

High - - - - -
Low - - - - -
Close - - - - -
Market Cap/LTM Levered FCF Average - - - - -

High - - - - -
Low - - - - -
Close - - - - -
Average multiples are calculated using positive close values on each trading day within the frequency periods selected. Negative values are excluded from the calculation. When the Multiples are not meaningful, due to neg
When a mismatch exists between the currency of the equity listing and the reported financial results such results are translated into the currency of the listing at the exchange rate applicable on the financial period end date
Historical Equity Pricing Data supplied by Interactive Data Pricing and

Reference Data LLC
Jun-28-2013 Sep-30-2013 Dec-31-2013 Mar-31-2014 Jun-30-2014 Sep-30-2014 Dec-31-2014 Mar-31-2015 Jun-30-2015
2.20x 1.78x 1.86x 1.91x 2.42x 2.75x 2.91x 2.95x 2.86x
2.33x 2.07x 2.01x 2.15x 2.82x 3.04x 3.08x 3.16x 3.05x
2.04x 1.55x 1.77x 1.79x 2.09x 2.55x 2.74x 2.65x 2.65x
2.13x 1.80x 1.99x 2.15x 2.71x 2.86x 3.02x 2.81x 2.99x
1.92x 1.52x 1.52x 1.52x - - 2.61x 2.61x 2.53x

2.06x 1.80x 1.62x 1.68x - - 2.74x 2.81x 2.72x
1.75x 1.30x 1.45x 1.42x - - 2.44x 2.34x 2.34x
1.82x 1.51x 1.60x 1.68x - - 2.69x 2.48x 2.67x
7.84x 6.85x 8.52x 9.59x 13.80x 17.05x 16.52x 15.76x 13.99x

8.28x 7.58x 9.54x 11.32x 17.27x 19.12x 19.06x 16.93x 15.71x
7.45x 6.09x 6.98x 8.50x 11.00x 15.28x 14.74x 14.09x 11.99x
7.98x 7.09x 9.45x 11.32x 16.57x 18.00x 16.21x 14.94x 12.66x
7.03x 5.60x 5.57x 5.57x - - 12.73x 12.85x 12.10x

7.51x 6.59x 5.94x 6.18x - - 13.33x 13.78x 13.15x
6.42x 4.83x 5.31x 5.22x - - 11.89x 11.79x 11.04x
6.67x 5.61x 5.88x 6.18x - - 13.07x 12.51x 11.66x
10.43x 9.65x 13.41x 16.21x 25.40x 35.27x 31.93x 29.11x 24.60x

11.00x 10.39x 15.34x 19.89x 32.98x 40.36x 40.23x 30.93x 29.25x
9.92x 8.71x 9.96x 13.66x 19.33x 29.92x 26.93x 26.22x 18.63x
10.61x 10.12x 15.20x 19.89x 31.63x 37.98x 29.60x 27.82x 19.67x
9.44x 7.40x 7.33x 7.30x - - 17.55x 17.74x 18.50x

10.11x 8.81x 7.81x 8.08x - - 18.38x 19.96x 20.76x
8.57x 6.33x 6.98x 6.82x - - 16.40x 15.93x 16.58x
8.91x 7.36x 7.74x 8.08x - - 18.03x 18.11x 20.38x
13.40x 11.29x 16.40x 21.30x 42.62x 90.72x 72.75x 54.01x 43.24x

14.25x 13.22x 19.72x 29.09x 61.62x 116.19x 115.65x 60.67x 53.13x
12.51x 9.25x 11.65x 16.23x 27.82x 57.62x 50.11x 45.50x 31.29x
13.39x 11.95x 19.43x 29.09x 58.09x 106.95x 57.16x 49.52x 33.66x
10.64x 7.85x 7.28x 7.07x - - 21.91x 23.14x 21.98x

11.46x 10.37x 8.12x 8.30x - - 23.34x 27.04x 25.35x
9.27x 5.99x 6.58x 6.28x - - 19.93x 20.96x 17.93x
10.55x 7.74x 7.82x 8.30x - - 22.73x 23.63x 19.29x
14.76x 12.33x 18.66x 24.99x 56.23x 132.24x 101.78x 73.82x 56.69x

15.72x 14.47x 22.63x 34.64x 86.13x 171.42x 170.63x 80.20x 74.28x
13.75x 10.09x 12.72x 18.62x 33.13x 79.89x 66.25x 63.61x 34.17x
14.71x 13.04x 22.29x 34.64x 81.20x 157.80x 75.57x 69.24x 36.76x
2.26x 1.77x 1.71x 1.72x 2.24x 2.96x 3.03x 2.97x 2.82x

2.52x 2.25x 1.88x 2.08x 2.65x 3.39x 3.37x 3.29x 3.10x
1.92x 1.39x 1.56x 1.55x 1.99x 2.65x 2.72x 2.52x 2.53x
2.06x 1.79x 1.85x 2.08x 2.38x 3.12x 3.10x 2.75x 3.02x
2.26x 1.84x 1.73x 1.72x 2.24x 3.11x 3.09x 2.97x 2.82x

2.52x 2.34x 1.95x 2.08x 2.65x 3.57x 3.55x 3.29x 3.10x
1.92x 1.44x 1.56x 1.55x 1.99x 2.79x 2.72x 2.52x 2.53x
2.06x 1.86x 1.85x 2.08x 2.38x 3.28x 3.10x 2.75x 3.02x
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
ul, due to negative values, then they will not be displayed in the chart.
riod end date.

Sep-30-2015 Dec-31-2015 Mar-31-2016 Jun-30-2016 Sep-30-2016 Dec-30-2016 Mar-31-2017 Jun-30-2017 Sep-29-2017
2.91x 3.06x 3.19x 3.87x 4.30x 4.39x 4.81x 4.84x 4.48x
3.10x 3.26x 3.44x 4.36x 4.62x 4.90x 5.25x 5.28x 4.81x
2.73x 2.85x 3.02x 3.30x 4.08x 3.89x 4.23x 4.35x 4.23x
2.82x 3.26x 3.30x 4.26x 4.47x 4.16x 4.98x 4.46x 4.45x
2.65x 2.85x 3.09x 3.63x 3.92x 3.90x 4.02x 4.10x 3.93x

2.82x 3.03x 3.37x 3.97x 4.17x 4.41x 4.53x 4.35x 4.14x
2.48x 2.59x 2.91x 3.23x 3.67x 3.29x 3.58x 3.88x 3.71x
2.56x 3.03x 3.23x 3.88x 4.04x 3.52x 4.11x 3.98x 3.84x
12.61x 12.35x 11.83x 13.05x 13.83x 14.11x 15.47x 15.66x 14.58x

13.91x 13.15x 12.98x 14.01x 14.85x 15.75x 16.89x 16.96x 15.54x
11.55x 12.07x 10.72x 11.69x 13.11x 12.51x 13.60x 14.24x 13.79x
11.91x 12.74x 11.70x 13.68x 14.38x 13.38x 16.00x 14.61x 14.39x
10.73x 10.81x 11.04x 12.17x 12.58x 12.44x 13.35x 13.73x 13.29x

12.13x 11.31x 11.71x 13.03x 13.35x 14.05x 14.93x 14.57x 14.23x
9.57x 10.04x 10.13x 10.87x 11.73x 10.73x 11.67x 12.97x 12.54x
9.87x 11.31x 11.24x 12.50x 12.92x 11.48x 13.82x 13.31x 13.18x
18.09x 16.85x 15.48x 16.86x 18.32x 18.70x 20.51x 20.60x 18.87x

20.44x 18.38x 17.42x 18.25x 19.68x 20.87x 22.39x 22.48x 20.03x
16.13x 16.21x 13.72x 14.97x 17.37x 16.58x 18.02x 18.49x 17.76x
16.64x 17.11x 14.98x 17.82x 19.06x 17.74x 21.20x 18.97x 18.54x
16.71x 14.87x 14.90x 16.49x 15.95x 16.10x 16.97x 17.37x 16.31x

21.44x 15.57x 15.94x 17.74x 16.79x 17.35x 18.68x 18.68x 17.28x
13.19x 13.78x 13.27x 15.29x 15.10x 14.78x 15.84x 16.00x 15.49x
13.60x 15.55x 15.30x 16.31x 16.26x 15.81x 17.62x 16.42x 16.00x
27.27x 23.87x 21.53x 22.96x 24.29x 24.87x 27.63x 27.35x 24.17x

35.29x 25.50x 25.71x 25.20x 26.37x 28.19x 30.52x 30.85x 26.18x
21.44x 22.76x 17.95x 20.10x 22.82x 21.61x 23.82x 23.31x 22.69x
22.36x 25.11x 20.12x 24.07x 25.41x 23.38x 28.70x 23.96x 24.09x
17.84x 17.99x 18.06x 20.53x 20.30x 19.93x 20.55x 21.59x 22.01x

20.52x 19.46x 19.52x 22.42x 21.61x 23.07x 23.52x 22.57x 24.16x
15.63x 16.59x 16.54x 18.15x 18.86x 16.45x 18.07x 20.68x 20.21x
16.29x 18.99x 18.54x 20.49x 20.72x 17.80x 21.04x 21.99x 22.23x
30.10x 26.61x 24.16x 27.88x 31.61x 32.35x 35.95x 34.90x 29.52x

38.54x 28.53x 28.60x 32.24x 34.31x 36.68x 39.70x 40.14x 31.85x
23.99x 25.47x 20.33x 22.76x 29.70x 28.11x 30.99x 28.58x 27.83x
25.01x 27.93x 22.78x 31.36x 33.05x 30.42x 37.34x 29.39x 29.31x
3.08x 3.08x 3.12x 3.83x 4.41x 4.51x 5.02x 4.90x 4.28x

3.31x 3.38x 3.44x 4.25x 4.79x 5.12x 5.54x 5.60x 4.72x
2.84x 2.96x 2.91x 3.26x 4.14x 3.92x 4.32x 4.07x 3.96x
2.97x 3.18x 3.26x 4.13x 4.61x 4.25x 5.21x 4.18x 4.34x
3.22x 3.13x 3.12x 3.83x 4.53x 4.65x 5.16x 5.04x 4.38x

3.46x 3.54x 3.44x 4.25x 4.93x 5.27x 5.70x 5.77x 4.83x
2.98x 2.96x 2.91x 3.26x 4.25x 4.04x 4.45x 4.17x 4.06x
3.10x 3.18x 3.26x 4.13x 4.75x 4.37x 5.36x 4.28x 4.45x
- 1.25x 9.47x 12.66x 11.77x 12.11x 13.30x 14.07x 12.89x

- 1.30x 12.47x 13.87x 13.59x 13.23x 14.92x 14.93x 14.69x
- 1.21x 1.21x 11.49x 10.60x 10.98x 11.99x 13.45x 11.37x
- 1.30x 11.84x 13.21x 11.76x 11.88x 13.63x 14.33x 11.91x
- - - - 50.54x 51.59x 56.56x - 26.49x

- - - - 54.29x 57.56x 61.74x - 28.01x
- - - - 47.91x 45.73x 49.71x - 24.84x
- - - - 52.56x 48.92x 58.48x - 25.93x
- - - - 67.79x 69.41x 77.14x - 27.06x

- - - - 73.60x 78.69x 85.18x - 28.74x
- - - - 63.71x 60.32x 66.49x - 25.25x
- - - - 70.92x 65.27x 80.12x - 26.45x
Dec-29-2017 Mar-28-2018 Jun-29-2018 Sep-28-2018 Dec-28-2018 Mar-29-2019 Jun-30-2019 Sep-30-2019 Dec-31-2019
4.58x 4.82x 4.75x 3.82x 3.49x 3.70x 4.13x 3.66x 3.73x
5.14x 5.14x 5.45x 4.09x 3.76x 4.18x 4.47x 3.92x 3.90x
4.40x 4.56x 3.89x 3.60x 3.23x 3.28x 3.78x 3.42x 3.41x
5.00x 4.64x 3.99x 3.67x 3.64x 4.16x 3.86x 3.64x 3.68x
3.89x 4.00x 3.98x 3.25x 2.87x 2.99x 3.45x 3.20x 3.28x

4.34x 4.36x 4.43x 3.61x 3.09x 3.35x 3.61x 3.45x 3.43x
3.73x 3.72x 3.42x 3.01x 2.71x 2.71x 3.30x 2.97x 3.01x
4.23x 3.78x 3.52x 3.04x 3.00x 3.34x 3.40x 3.21x 3.24x
14.81x 15.57x 16.73x 15.02x 13.72x 14.53x 18.14x 17.25x 16.74x

16.63x 16.64x 17.88x 16.09x 14.80x 16.42x 20.56x 19.49x 17.44x
14.24x 14.75x 15.33x 14.14x 12.72x 12.90x 16.26x 15.48x 15.45x
16.18x 14.99x 15.67x 14.43x 14.32x 16.37x 19.33x 16.48x 16.48x
13.70x 14.62x 15.59x 13.72x 12.94x 13.67x 15.10x 13.49x 13.77x

15.43x 15.58x 17.02x 15.22x 14.14x 15.22x 16.05x 14.54x 14.48x
13.05x 13.66x 14.08x 12.96x 11.88x 12.51x 14.13x 12.53x 12.49x
15.14x 14.10x 14.49x 13.11x 13.73x 15.18x 14.32x 13.33x 13.68x
19.09x 20.07x 21.87x 20.05x 18.32x 19.40x 24.59x 23.39x 22.18x

21.43x 21.44x 23.80x 21.48x 19.75x 21.91x 28.31x 26.83x 23.06x
18.35x 19.00x 19.75x 18.88x 16.98x 17.22x 21.70x 20.62x 20.57x
20.85x 19.32x 20.92x 19.26x 19.12x 21.86x 26.61x 21.95x 21.78x
16.68x 18.23x 20.21x 17.33x 16.87x 18.14x 19.69x 16.94x 17.20x

18.83x 19.31x 22.12x 18.92x 18.63x 20.12x 20.85x 19.01x 18.33x
15.84x 16.87x 18.14x 16.38x 14.79x 16.69x 18.47x 15.31x 15.28x
18.56x 17.73x 18.69x 16.79x 18.09x 20.07x 18.73x 16.30x 17.31x
24.85x 26.24x 28.98x 27.29x 24.77x 26.34x 33.36x 31.29x 28.72x

28.16x 28.17x 31.93x 29.37x 26.86x 30.00x 38.08x 35.95x 29.98x
23.82x 24.74x 25.79x 25.59x 22.82x 23.17x 29.69x 27.83x 27.39x
27.33x 25.18x 28.56x 26.15x 25.93x 29.92x 35.63x 29.81x 27.57x
22.71x 24.31x 26.95x 24.19x 23.35x 25.19x 27.57x 23.29x 22.93x

25.55x 25.88x 29.24x 26.66x 25.92x 28.30x 29.96x 25.61x 24.01x
21.69x 22.40x 24.10x 22.88x 20.93x 22.87x 25.01x 21.44x 21.38x
25.15x 23.50x 25.70x 23.22x 25.11x 28.22x 25.39x 22.96x 22.38x
30.24x 31.92x 34.20x 30.59x 27.77x 29.53x 37.60x 34.81x 32.20x

34.26x 34.27x 36.44x 32.92x 30.11x 33.63x 43.16x 40.75x 33.32x
28.98x 30.09x 31.23x 28.68x 25.58x 25.98x 33.29x 30.38x 30.30x
33.25x 30.64x 32.01x 29.31x 29.07x 33.54x 40.39x 32.54x 31.25x
4.48x 4.73x 4.67x 3.85x 3.50x 3.72x 4.24x 3.87x 3.94x

5.08x 5.08x 5.40x 4.15x 3.79x 4.23x 4.55x 4.09x 4.11x
4.29x 4.46x 3.78x 3.61x 3.22x 3.27x 3.92x 3.64x 3.64x
4.93x 4.54x 4.03x 3.69x 3.66x 4.22x 4.01x 3.90x 3.85x
4.59x 4.84x 4.77x 3.92x 3.56x 3.79x 4.32x 3.93x 4.01x

5.20x 5.20x 5.53x 4.22x 3.86x 4.31x 4.64x 4.16x 4.18x
4.39x 4.56x 3.85x 3.68x 3.28x 3.33x 3.99x 3.71x 3.70x
5.04x 4.65x 4.11x 3.76x 3.73x 4.30x 4.08x 3.97x 3.92x
12.43x 14.33x 16.40x 15.59x 14.75x 16.00x 18.08x - -

14.58x 14.79x 18.23x 17.06x 16.11x 18.12x 19.36x - -
11.78x 13.14x 14.48x 13.26x 13.85x 14.61x 16.71x - -
14.35x 14.15x 14.80x 15.87x 15.33x 18.07x 18.12x - -
26.69x 28.07x 30.42x 34.09x 31.15x 32.99x - - -

29.97x 29.98x 35.57x 36.52x 33.58x 37.26x - - -
25.66x 26.57x 27.62x 32.10x 28.87x 29.28x - - -
29.16x 27.02x 35.57x 32.76x 32.51x 37.16x - - -
27.29x 28.81x 31.38x 34.40x 31.22x 33.21x - - -

30.91x 30.92x 36.00x 37.02x 33.85x 37.82x - - -
26.15x 27.16x 28.31x 32.25x 28.76x 29.21x - - -
30.01x 27.65x 36.00x 32.96x 32.69x 37.71x - - -
Mar-31-2020 Jun-30-2020 Sep-30-2020 Dec-31-2020 Mar-31-2021 Jun-30-2021 Sep-30-2021 Dec-31-2021 Mar-11-2022
3.59x 2.89x 3.73x 4.44x 4.86x 5.12x 5.07x 4.78x 4.15x
4.17x 3.39x 4.18x 4.79x 5.36x 5.61x 5.62x 5.14x 4.94x
2.50x 2.40x 3.36x 4.07x 4.24x 4.81x 4.64x 4.48x 3.38x
2.61x 3.34x 4.11x 4.34x 5.25x 5.17x 4.80x 4.76x 3.47x
3.13x 2.85x 3.68x 3.88x 4.07x 4.28x 4.31x 3.98x 3.48x

3.67x 3.61x 3.96x 4.06x 4.46x 4.66x 4.77x 4.24x 4.07x
2.18x 2.16x 3.48x 3.60x 3.59x 3.97x 3.94x 3.69x 2.85x
2.31x 3.57x 3.75x 3.68x 4.36x 4.39x 4.08x 3.93x 2.93x
16.31x 13.26x 17.74x 19.35x 18.49x 17.94x 16.61x 16.48x 16.10x

18.67x 15.81x 20.13x 20.78x 19.59x 20.42x 18.72x 18.04x 17.33x
11.45x 10.97x 15.70x 17.62x 16.72x 16.03x 15.08x 15.34x 13.78x
11.93x 15.59x 19.80x 18.00x 19.13x 17.22x 15.62x 16.71x 14.17x
13.44x 12.99x 16.50x 15.45x 15.21x 15.51x 15.37x 14.65x 14.00x

15.56x 16.78x 18.38x 17.08x 16.62x 17.21x 17.36x 15.84x 15.21x
9.36x 9.44x 14.90x 13.57x 13.54x 14.16x 13.93x 13.78x 12.03x
10.08x 16.57x 16.08x 13.86x 16.12x 15.95x 14.43x 14.67x 12.37x
21.62x 17.70x 24.87x 26.82x 24.45x 23.22x 21.26x 21.34x 21.63x

24.69x 21.82x 28.57x 29.50x 26.79x 26.48x 24.18x 23.47x 23.19x
15.19x 14.56x 21.68x 24.11x 21.67x 20.70x 19.24x 19.57x 18.81x
15.82x 21.52x 28.10x 24.62x 24.80x 22.24x 19.92x 21.74x 19.33x
17.32x 16.61x 24.98x 20.68x 19.65x 20.34x 20.42x 19.16x 18.92x

19.96x 27.95x 28.20x 24.24x 21.38x 21.95x 23.61x 20.71x 20.25x
12.12x 12.44x 21.28x 17.63x 17.59x 17.26x 18.32x 17.99x 16.44x
13.52x 25.43x 22.96x 18.01x 20.56x 21.69x 18.97x 19.15x 16.90x
27.01x 21.02x 29.26x 33.27x 31.30x 30.72x 29.25x 22.55x 20.05x

31.73x 24.84x 34.64x 35.93x 33.80x 34.77x 33.12x 28.42x 21.85x
17.79x 16.91x 24.64x 29.94x 27.75x 27.83x 26.33x 19.51x 16.66x
18.69x 24.43x 33.97x 30.69x 32.32x 30.17x 27.38x 20.96x 17.23x
21.95x 22.17x 31.19x 26.56x 25.76x 27.65x 27.04x 24.62x 22.96x

26.10x 33.84x 37.17x 30.50x 28.57x 29.92x 31.05x 26.59x 25.36x
14.24x 14.49x 25.93x 22.36x 22.30x 26.20x 24.19x 22.65x 19.15x
15.68x 32.88x 28.70x 22.92x 27.85x 28.28x 25.16x 24.33x 19.80x
30.95x 24.46x 35.82x 39.63x 35.75x 33.93x 31.16x 30.84x 31.13x

35.96x 30.33x 42.50x 44.09x 39.62x 39.12x 35.70x 34.18x 33.78x
20.50x 19.49x 30.09x 35.10x 31.22x 30.00x 27.93x 28.44x 26.34x
21.54x 29.83x 41.69x 35.97x 36.37x 32.52x 29.05x 31.31x 27.23x
3.78x 2.89x 3.30x 3.68x 4.01x 4.27x 4.28x 3.78x 3.23x

4.43x 3.31x 3.62x 3.91x 4.50x 4.73x 4.72x 4.21x 3.84x
2.49x 2.37x 3.05x 3.41x 3.40x 3.96x 3.90x 3.43x 2.57x
2.62x 3.03x 3.55x 3.49x 4.40x 4.30x 4.05x 3.69x 2.65x
3.85x 2.94x 3.36x 3.75x 4.09x 4.35x 4.34x 3.84x 3.29x

4.51x 3.37x 3.68x 4.00x 4.60x 4.83x 4.79x 4.27x 3.90x
2.54x 2.41x 3.11x 3.48x 3.47x 4.03x 3.96x 3.49x 2.61x
2.66x 3.08x 3.61x 3.57x 4.49x 4.36x 4.11x 3.75x 2.70x
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- NM - NM - NM - NM -
- NM - NM - NM - NM -
- NM - NM - NM - NM -
- NM - NM - NM - NM -
- NM - NM - NM - NM -
- NM - NM - NM - NM -
- NM - NM - NM - NM -
- NM - NM - NM - NM -
The Ramco Cements Limited (NSEI:RAMCOCEM) > Financials > Historical Capitalization
In Millions of the trading currency, except per share items. Frequency: Quarterly Order: Latest on Right
Currency: Trading Currency Conversion: Today's Spot Rate
Dilution: Basic
Historical Capitalization
Balance Sheet as of:
Pricing as of* Jul-02-2012 Jul-01-2013 Jul-01-2014 Jul-08-2015 Jul-04-2016 Aug-21-2017
Capitalization Detail
Share Price 158.3 223.95 292.0 347.9 575.1 662.3
Shares Out. 238.0 238.0 238.0 238.1 238.1 235.6
Market Capitalization 37,670.6 53,293.2 69,487.1 82,826.9 136,918.0 156,022.5

- Cash & Short Term Investments 474.9 539.6 454.0 628.6 911.3 1,197.7
+ Total Debt 27,104.1 26,670.5 29,288.0 27,341.6 22,229.1 14,830.1
+ Pref. Equity - - - - - -
+ Total Minority Interest - - 2.2 6.1 7.0 19.4
- Long Term Marketable Securities - - - - - -
= Total Enterprise Value (TEV) 64,299.8 79,424.1 98,323.3 109,546.0 158,242.8 169,674.3
Book Value of Common Equity 20,503.8 23,707.6 24,589.3 26,256.2 30,732.7 37,954.6
+ Pref. Equity - - - - - -
+ Total Minority Interest - - 2.2 6.1 7.0 19.4
+ Total Debt 27,104.1 26,670.5 29,288.0 27,341.6 22,229.1 14,830.1
= Total Capital 47,607.9 50,378.1 53,879.5 53,603.9 52,968.8 52,804.1
sheet components from the last reported balance sheet as of this date.
The table above
company’s is organized
primary along
stock class. period
Shares end on
shown dates.
this page are total
company as-reported share values.
Historical Equity Pricing Data supplied by Interactive Data Pricing and

Reference Data LLC
Mar-31-2018 Mar-31-2019 Mar-31-2020 Mar-31-2021
Jun-29-2018 Jul-09-2019 Aug-13-2020 Jul-22-2021
INR INR INR INR
702.4 778.9 702.9 1,106.95

235.6 235.6 235.6 235.9
165,469.1 183,490.8 165,586.9 261,118.4

886.6 639.5 639.3 1,081.1
11,739.0 17,353.2 30,658.9 31,790.7
- - - -
32.3 47.0 56.4 63.1
- - - -
176,353.8 200,251.5 195,662.9 291,891.1
41,050.5 45,370.0 50,013.5 57,317.0

- - - -
32.3 47.0 56.4 63.1
11,739.0 17,353.2 30,658.9 31,790.7
52,821.8 62,770.2 80,728.8 89,170.8
The Ramco Cements Limited (NSEI:RAMCOCEM) > Financials > Capital Structure Summary
In Millions of the reported currency, except ratios and % of Total
values. Restatement: Latest Filings Period Type: Annual
Order: Latest on Right
Capital Structure
For the Fiscal PeriodData
Ending
12 months Mar-31-2012 12 months Mar-31-2013 12 months Mar-31-2014
Currency INR INR INR
Units Millions % of Total Millions % of Total Millions % of Total
Total Debt 27,104.1 56.9% 26,670.5 52.9% 29,101.7 54.2%

Total Common Equity 20,503.8 43.1% 23,707.6 47.1% 24,589.3 45.8%
Total Minority Interest - - - - 2.2 0.0%
Total Capital 47,607.9 100.0% 50,378.1 100.0% 53,693.2 100.0%

Exchange Rate 1.0 1.0 1.0
Conversion Method S S S
Debt Summary
For the Data
Fiscal Period Ending
12 months Mar-31-2012 12 months Mar-31-2013 12 months Mar-31-2014
Units Millions % of Total Millions % of Total Millions % of Total
Total Commercial Paper - - - - - -

Total Revolving Credit 1,073.7 4.0% 1,613.5 6.0% 2,348.1 8.1%
Total Term Loans 20,756.0 76.6% 20,105.3 75.4% 21,805.9 74.9%
Total Senior Bonds and Notes - - - - - -
Total Lease Liabilities - - - - - -
General/Other Borrowings 5,274.4 19.5% 4,951.7 18.6% 4,947.7 17.0%
Total Principal Due 27,104.1 100.0% 26,670.5 100.0% 29,101.7 100.0%
Total Adjustments - - - - - -
Total Debt Outstanding 27,104.1 100.0% 26,670.5 100.0% 29,101.7 100.0%
Available Credit
Undrawn Commercial Paper - - - - - -
Undrawn Revolving Credit - - - - - -
Other Available Credit - - - - - -
Total Undrawn Credit - - - - - -
Additional Totals
Total Cash & ST Investments 474.9 - 539.6 - 454.0 -
Net Debt 26,629.2 - 26,130.9 - 28,647.7 -
Total Senior Debt 27,104.1 100.0% 26,670.5 100.0% 29,101.7 100.0%
Total Short-Term Borrowings 6,131.9 22.6% 5,880.8 22.0% 7,236.2 24.9%
Curr. Port. of LT Debt/Cap. Leases 5,964.7 22.0% 6,859.1 25.7% 6,662.0 22.9%
Long-Term Debt (Incl. Cap. Leases) 15,007.5 55.4% 13,930.6 52.2% 15,203.5 52.2%
Total Bank Debt 21,829.7 80.5% 21,718.8 81.4% 24,154.0 83.0%
Total Secured Debt 13,954.5 51.5% 12,523.3 47.0% 16,503.2 56.7%
Senior Secured Loans 13,954.5 51.5% 12,523.3 47.0% 16,503.2 56.7%
Senior Secured Bonds and Notes - - - - - -
Total Senior Secured Debt 13,954.5 51.5% 12,523.3 47.0% 16,503.2 56.7%
Total Unsecured Debt 13,149.6 48.5% 14,147.2 53.0% 12,598.5 43.3%
Senior Unsecured Bonds and Notes - - - - - -
Fixed Rate Debt 15.3 0.1% 9,163.8 34.4% 10,914.8 37.5%
Variable Rate Debt - - - - - -
Zero Coupon Debt 5,235.5 19.3% 4,841.8 18.2% 4,841.9 16.6%
Hedging Activities - - - - - -
Credit Ratios
Net Debt/EBITDA 2.7x - 2.5x - 4.5x -
Total Debt/EBITDA 2.8x - 2.5x - 4.6x -
Total Senior Debt/EBITDA 2.8x - 2.5x - 4.6x -
Total Senior Secured/EBITDA 1.4x - 1.2x - 2.6x -
Net Debt/(EBITDA-CAPEX) 6.6x - 4.0x - 216.7x -
Total Debt/(EBITDA-CAPEX) 6.7x - 4.1x - 220.1x -
Total Senior Debt/(EBITDA-CAPEX) 6.7x - 4.1x - 220.1x -
Total Senior Secured/(EBITDA-CAPEX) 3.4x - 1.9x - 124.8x -
Fixed Payment Schedule

LT Debt (Incl. Cap. Leases) Due +1 5,964.7 22.0% 6,859.1 25.7% 6,848.3 23.5%
LT Debt (Incl. Cap. Leases) Due +2 - - 4,938.7 18.5% 4,875.0 16.8%
LT Debt (Incl. Cap. Leases) Due +5 - - 1,623.0 6.1% 972.0 3.3%
LT Debt (Incl. Cap. Leases) Due, Next 5 Yrs 5,964.7 22.0% 17,356.4 65.1% 18,876.7 64.9%
LT Debt (Incl. Cap. Leases) Due, After 5 Yrs - - 3,111.9 11.7% 3,175.1 10.9%
Cap. Lease Payment Due +1 - - - - - -

Cap. Lease Payment Due, Next 5 Yrs - - - - - -
Cap. Lease Payment Due, After 5 Yrs - - - - - -
Cap. Lease Payment Due (incl. Interest) +1 - - - - - -
Operating Lease Commitment Due +1 - - 14.2 - 11.5 -

Operating Lease Commitment Due, Next 5 Yrs - - 50.7 - 36.5 -
Operating Lease Commitment Due, After 5 Yrs - - - - - -
Interest Rate Data

Filing Date Jun-30-2013 - Jul-01-2014 - Jul-08-2015 -

Exchange Rate 1.0 1.0 1.0
Conversion Method S S S
12 months Mar-31-2015 12 months Mar-31-2016 12 months Mar-31-2017 12 months Mar-31-2018 12 months Mar-31-201
INR INR INR INR INR
Millions % of Total Millions % of Total Millions % of Total Millions % of Total Millions
27,341.6 51.0% 22,113.9 41.4% 14,830.1 28.1% 11,739.0 22.2% 17,353.2

26,256.2 49.0% 31,331.4 58.6% 37,954.6 71.9% 41,126.4 77.7% 45,370.0
6.1 0.0% 7.0 0.0% 19.4 0.0% 39.9 0.1% 47.0
53,603.9 100.0% 53,452.3 100.0% 52,804.1 100.0% 52,905.3 100.0% 62,770.2
INR INR INR INR INR

1.0 1.0 1.0 1.0 1.0
S S S S S
12 months Mar-31-2015 12 months Mar-31-2016 12 months Mar-31-2017 12 months Mar-31-2018 12 months Mar-31-201
INR INR INR INR INR
Millions % of Total Millions % of Total Millions % of Total Millions % of Total Millions
2,085.9 7.6% 0 0.0% 4,604.9 31.1% - - 4,400.0

2,046.8 7.5% 2,753.1 12.4% 1,316.7 8.9% 2,903.2 24.7% 215.1
18,828.5 68.9% 9,491.6 42.9% 2,556.2 17.2% 5,123.2 43.6% 9,268.4
- - 4,998.5 22.6% 1,999.4 13.5% - - -
- - - - - - - - -
4,380.4 16.0% 4,087.7 18.5% 3,848.1 25.9% 3,143.7 26.8% 2,469.1
27,341.6 100.0% 21,330.9 96.5% 14,325.3 96.6% 11,170.1 95.2% 16,352.6
- - 783.0 3.5% 504.8 3.4% 568.9 4.8% 1,000.6

27,341.6 100.0% 22,113.9 100.0% 14,830.1 100.0% 11,739.0 100.0% 17,353.2
- - - - - - - - -
- - - - 4,051.4 - 4,013.5 - 6,355.7
- - - - - - - - 1,752.5
- - - - 4,051.4 - 4,013.5 - 8,108.2
628.6 - 911.3 - 833.4 - 890.4 - 656.3

26,713.0 - 21,202.6 - 13,996.7 - 10,848.6 - 16,696.9
27,341.6 100.0% 21,330.9 96.5% 14,325.3 96.6% 11,170.1 95.2% 16,352.6
5,536.1 20.2% 7,016.6 31.7% 6,803.6 45.9% 6,359.6 54.2% 8,277.3
4,532.1 16.6% 4,502.7 20.4% 2,916.1 19.7% 1,191.6 10.2% 2,064.1
17,273.4 63.2% 10,594.6 47.9% 5,110.4 34.5% 4,187.8 35.7% 7,011.8
20,875.3 76.3% 12,244.7 55.4% 3,872.9 26.1% 8,026.4 68.4% 9,483.5
16,464.1 60.2% 12,023.4 54.4% 5,872.3 39.6% 6,156.4 52.4% 7,226.0
16,464.1 60.2% 9,024.9 40.8% 3,872.9 26.1% 6,156.4 52.4% 7,226.0
- - 2,998.5 13.6% 1,999.4 13.5% - - -
16,464.1 60.2% 12,023.4 54.4% 5,872.3 39.6% 6,156.4 52.4% 7,226.0
10,877.5 39.8% 9,307.5 42.1% 8,453.0 57.0% 5,013.7 42.7% 9,126.6
- - 2,000.0 9.0% - - - - -
13,289.3 48.6% 6,154.3 27.8% 3,355.6 22.6% 1,706.9 14.5% 1,288.0
- - - - - - - - -
4,377.1 16.0% 4,039.6 18.3% 3,674.6 24.8% 3,140.5 26.8% 2,448.4
- - 70.4 0.3% 37.9 0.3% 21.7 0.2% -
3.3x - 1.9x - 1.1x - 1.0x - 1.6x

3.4x - 1.9x - 1.2x - 1.0x - 1.7x
3.4x - 1.9x - 1.2x - 1.0x - 1.6x
2.0x - 1.1x - 0.5x - 0.5x - 0.7x
7.2x - 2.5x - 1.5x - 1.7x - NM
7.4x - 2.6x - 1.6x - 1.9x - NM
7.4x - 2.6x - 1.6x - 1.8x - NM
4.5x - 1.4x - 0.6x - 1.0x - NM
4,532.1 16.6% 4,453.2 20.1% 2,857.5 19.3% 1,151.7 9.8% 2,020.1

5,812.0 21.3% 4,775.7 21.6% 1,053.1 7.1% 1,422.9 12.1% 2,161.3
5,678.4 20.8% 1,602.0 7.2% 1,328.5 9.0% 615.6 5.2% 1,244.4
1,803.8 6.6% 1,677.0 7.6% 624.1 4.2% - - 1,416.5
1,510.1 5.5% 547.4 2.5% - - 454.1 3.9% 1,291.6
19,336.4 70.7% 13,055.3 59.0% 5,863.2 39.5% 3,644.2 31.0% 8,133.8
2,469.1 9.0% 2,107.7 9.5% 2,163.3 14.6% 1,735.2 14.8% 942.1
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
21.1 - - - 3.7 - 3.1 - 7.6

6.6 - - - 2.5 - 2.3 - 2.4
6.6 - - - 2.5 - 2.3 - 2.4
6.6 - - - 2.5 - 2.3 - 2.4
6.6 - - - 2.5 - 2.3 - 2.4
47.6 - - - 13.5 - 12.2 - 17.1
12.1 - - - 41.5 - 39.2 - 37.0
Jul-04-2016 - Aug-21-2017 - Jun-29-2018 - Jul-09-2019 - Aug-13-2020
INR INR INR INR INR

1.0 1.0 1.0 1.0 1.0
S S S S S
ths Mar-31-2019 12 months Mar-31-2020 12 months Mar-31-2021
INR INR
% of Total Millions % of Total Millions % of Total
27.6% 30,658.9 38.0% 31,790.7 35.7%

72.3% 50,013.5 62.0% 57,317.0 64.3%
0.1% 56.4 0.1% 63.1 0.1%
100.0% 80,728.8 100.0% 89,170.8 100.0%
INR INR
1.0 1.0
S S
ths Mar-31-2019 12 months Mar-31-2020 12 months Mar-31-2021

INR INR
% of Total Millions % of Total Millions % of Total
25.4% 3,986.7 13.0% 1,495.6 4.7%

1.2% 0 0.0% 0 0.0%
53.4% 20,819.6 67.9% 20,759.2 65.3%
- 3,950.0 12.9% 7,900.0 24.9%
- 81.6 0.3% 80.6 0.3%
14.2% 1,464.8 4.8% 839.6 2.6%
94.2% 30,302.7 98.8% 31,075.0 97.7%
5.8% 356.2 1.2% 715.7 2.3%

100.0% 30,658.9 100.0% 31,790.7 100.0%
- - - 7,504.4 -
- 7,950.0 - 7,450.0 -
- 4,000.0 - 4,333.3 -
- 11,950.0 - 19,287.7 -
- 639.3 - 1,081.1 -
- 30,019.6 - 30,709.6 -
94.2% 30,302.7 98.8% 31,075.0 97.7%
47.7% 8,337.0 27.2% 3,914.1 12.3%
11.9% 3,917.9 12.8% 6,170.9 19.4%
40.4% 18,404.0 60.0% 21,705.7 68.3%
54.6% 20,819.6 67.9% 20,759.2 65.3%
41.6% 22,251.2 72.6% 28,739.8 90.4%
41.6% 18,219.6 59.4% 20,759.2 65.3%
- 3,950.0 12.9% 7,900.0 24.9%
41.6% 22,251.2 72.6% 28,739.8 90.4%
52.6% 8,051.5 26.3% 2,335.2 7.3%
- - - - -
7.4% 5,261.3 17.2% 9,231.1 29.0%
- 15,508.3 50.6% 17,728.1 55.8%
14.1% 1,450.9 4.7% 814.0 2.6%
- - - - -
- 2.6x - 2.0x -
- 2.7x - 2.0x -
- 2.6x - 2.0x -
- 1.9x - 1.8x -
- NM - NM -
- NM - NM -
- NM - NM -
- NM - NM -
11.6% 8,708.2 28.4% 8,643.1 27.2%

12.5% 2,923.2 9.5% 4,917.6 15.5%
7.2% 3,266.5 10.7% 4,935.2 15.5%
8.2% 3,567.8 11.6% 4,659.0 14.7%
7.4% 3,278.7 10.7% 4,490.4 14.1%
46.9% 21,744.3 70.9% 27,645.3 87.0%
5.4% 577.6 1.9% 231.3 0.7%
- 1.0 - 1.1 -
- 4.7 - 4.8 -
- 4.7 - 4.8 -
- 4.7 - 4.8 -
- 4.7 - 4.8 -
- 19.7 - 20.1 -
- 61.9 - 60.5 -
- - - 9.1 -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- Jul-21-2021 - Jul-21-2021 -
INR INR
1.0 1.0
S S
The Ramco Cements Limited (NSEI:RAMCOCEM) > Financials > Capital Structure Details
Principal Due in Millions of the
reported currency. Period Type: Annual Source: A 2021 filed Jul-21-2021
Units: S&P Capital IQ (Default) Decimals: Capital IQ (Default)
FY 2021 (Mar-31-2021) Capital Structure As Reported Details Coupon/Base

Description Type Principal Due (INR) Rate Floating Rate Maturity Seniority Secured
Lease Liabilities Capital Lease 80.6 NA NA - Senior Yes
Loan from Banks - Unsecured Term Loans - NA NA - Senior No
Secured Cash Credit Revolving Credit - 7.350% - 9.200% NA - Senior Yes
Secured Loan from Banks Term Loans 1,700.0 6.150% - 8.400% NA Mar-31-2022 Senior Yes
Series A - 7.12% Non Bonds and Notes 1,000.0 7.120% NA Jun-18-2021 Senior Yes
Convertible Debentures
Series B - 7.25% Non Bonds and Notes 950.0 7.250% NA Dec-20-2021 Senior Yes
Series C - 6.90% Non Bonds and Notes 1,000.0 6.900% NA Aug-26-2022 Senior Yes
Series D - 7.00% Non Bonds and Notes 1,000.0 7.000% NA May-26-2023 Senior Yes
Series E - 5.50% Non Bonds and Notes 1,950.0 5.500% NA May-20-2024 Senior Yes
Series F - 5.50% Non Series Bonds and Notes 1,000.0 5.500% NA Apr-26-2023 Senior Yes
Series F - 5.50% Non Series Bonds and Notes 1,000.0 5.500% NA Feb-24-2023 Senior Yes
Soft Loan from Series Term Loans
Government 1,331.1 0.100% NA Apr-01-2027 Senior Yes
Term Loans from Axis Bank Term Loans 500.0 5.250% New Benchmark - Senior Yes
Term Loans from Axis Bank Term Loans 300.0 6.250% New Benchmark - Senior Yes
Term Loans from Federal Bank Term Loans 1,436.6 6.100% 3-month Treasury Bill Rate - Senior Yes
Term Loans from HDFC Bank Term Loans 25.0 5.500% New Benchmark - Senior Yes
Term Loans from HDFC Bank Term Loans 2,625.0 6.100% New Benchmark - Senior Yes
Term Loans from HDFC Bank Term Loans 5,341.5 6.100% New Benchmark - Senior Yes
Term Loans from HSBC Bank Term Loans 2,000.0 5.250% New Benchmark - Senior Yes
Term Loans from HSBC Bank Term Loans 1,250.0 5.900% 3-month Treasury Bill Rate - Senior Yes
Term Loans from HSBC Bank Term Loans 875.0 5.900% 3-month Treasury Bill Rate - Senior Yes
Term Loans from HSBC Bank Term Loans 375.0 5.900% 3-month Treasury Bill Rate - Senior Yes
Term Loans from Kotak Term Loans 3,000.0 6.500% New Benchmark - Senior Yes
Mahindra
UnsecuredBank
Commercial Papers Commercial Paper 1,495.6 3.250% - 5.300% NA Mar-31-2022 Senior No
Unsecured Interest Free Other Borrowings 814.0 NA NA 2017 - 2026 Senior No
Deferred
UnsecuredSales Tax
Loans Liability
and Other Borrowings 25.6 NA NA - Senior No
Advances from Director
FY 2020 (Mar-31-2020) Capital Structure As Reported Details Coupon/Base
Description Type Principal Due (INR) Rate Floating Rate Maturity Seniority Secured
Lease Liabilities Capital Lease 81.6 NA NA - Senior Yes
Loan from Banks - Unsecured Term Loans 2,600.0 NA NA - Senior No
Secured Cash Credit Revolving Credit - 7.350% - 9.200% NA - Senior Yes
Secured Loan from Banks Term Loans 1,400.0 6.150% - 8.400% NA Mar-31-2022 Senior Yes
Series A - 7.12% Non Bonds and Notes 1,000.0 7.120% NA Jun-18-2021 Senior Yes
Series B - 7.25% Non Bonds and Notes 950.0 7.250% NA Dec-20-2021 Senior Yes
Series C - 6.90% Non Bonds and Notes 1,000.0 6.900% NA Aug-26-2022 Senior Yes
Series D - 7.00% Non Bonds and Notes 1,000.0 7.000% NA May-26-2023 Senior Yes
Soft Loan from Government Term Loans 1,311.3 0.100% NA Apr-01-2027 Senior Yes
Term Loans from Banks - Term Loans 7,000.0 7.850% New Benchmark - Senior Yes
Secured * from Banks -
Term Loans Term Loans 4,508.3 7.950% New Benchmark - Senior Yes
Secured * from Banks -
Term Loans Term Loans 4,000.0 8.000% New Benchmark - Senior Yes
Secured * Commercial Papers Commercial Paper
Unsecured 3,986.7 3.250% - 5.300% NA Mar-31-2022 Senior No
Unsecured Interest Free Other Borrowings 1,450.9 NA NA 2017 - 2026 Senior No
Deferred
UnsecuredSales Tax
Loans Liability
and Other Borrowings 13.9 NA NA - Senior No
Advances from Director
nt
Convertible Currency
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
nt
Convertible Currency
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
No INR
The Ramco Cements Limited (NSEI:RAMCOCEM) > Financials > Ratios
Restatement: Latest Filings Period Type: Annual

Order: Latest on Right Decimals: Capital IQ (Default)
Ratios
Profitability
Return on Assets % 7.7% 7.6% 3.1% 5.0% 7.3% 8.4%
Return on Capital % 9.7% 9.7% 4.0% 6.4% 9.6% 11.1%
Return on Equity % 20.3% 18.3% 4.7% 9.7% 18.9% 19.2%
Return on Common Equity % 20.3% 18.3% 4.7% 9.7% 18.9% 19.1%
Margin Analysis
Gross Margin % 57.3% 57.6% 50.4% 79.8% 81.8% 68.2%
SG&A Margin % 27.4% 30.6% 33.4% 8.8% 8.6% 27.7%
EBITDA Margin % 30.2% 27.3% 17.0% 21.8% 31.3% 30.7%
EBITA Margin % 22.3% 19.9% 8.7% 15.3% 22.7% 23.9%
EBIT Margin % 22.3% 19.9% 8.8% 14.8% 22.6% 23.7%
Earnings from Cont. Ops Margin % 11.9% 10.5% 3.1% 6.6% 15.1% 16.7%
Net Income Margin % 11.9% 10.5% 3.1% 6.6% 15.1% 16.7%
Net Income Avail. for Common Margin % 11.9% 10.5% 3.1% 6.6% 15.1% 16.7%
Normalized Net Income Margin % 10.8% 9.6% 2.2% 6.1% 11.5% 13.7%
Levered Free Cash Flow Margin % (1.3%) 2.9% (6.0%) 7.5% 19.2% 14.6%
Unlevered Free Cash Flow Margin % 1.4% 5.5% (3.0%) 10.7% 22.4% 16.2%
Asset Turnover
Total Asset Turnover 0.5x 0.6x 0.6x 0.5x 0.5x 0.6x
Fixed Asset Turnover 0.7x 0.8x 0.8x 0.8x 0.7x 0.8x
Accounts Receivable Turnover 16.8x 14.8x 11.9x 10.6x 8.4x 7.7x
Inventory Turnover 3.1x 3.0x 2.9x 1.2x 1.2x 2.2x
Short Term Liquidity

Current Ratio 0.7x 0.8x 0.7x 0.8x 0.7x 0.7x
Quick Ratio 0.2x 0.3x 0.2x 0.3x 0.3x 0.3x
Cash from Ops. to Curr. Liab. 0.6x 0.4x 0.3x 0.7x 0.5x 0.6x
Avg. Days Sales Out. 21.7 24.7 30.6 34.4 43.7 47.4
Avg. Days Inventory Out. 117.3 121.7 126.5 293.8 298.0 162.9
Avg. Days Payable Out. 28.9 25.0 30.0 126.3 118.4 66.7
Avg. Cash Conversion Cycle 110.2 121.4 127.1 201.9 223.3 143.6
Long Term Solvency

Total Debt/Equity 132.2% 112.5% 118.3% 104.1% 70.6% 39.1%
Total Debt/Capital 56.9% 52.9% 54.2% 51.0% 41.4% 28.1%
LT Debt/Equity 73.2% 58.8% 61.8% 65.8% 33.8% 13.5%
LT Debt/Capital 31.5% 27.7% 28.3% 32.2% 19.8% 9.7%
Total Liabilities/Total Assets 66.2% 63.4% 64.1% 62.5% 54.9% 46.3%
EBIT / Interest Exp. 5.2x 4.6x 1.8x 2.9x 4.5x 9.1x

EBITDA / Interest Exp. 7.0x 6.3x 3.5x 4.3x 6.2x 11.7x
(EBITDA-CAPEX) / Interest Exp. 2.9x 3.9x 0.1x 1.9x 4.6x 8.8x
Total Debt/EBITDA 2.8x 2.5x 4.6x 3.4x 1.9x 1.2x
Net Debt/EBITDA 2.7x 2.5x 4.5x 3.3x 1.9x 1.1x
Total Debt/(EBITDA-CAPEX) 6.7x 4.1x 220.1x 7.4x 2.6x 1.6x
Net Debt/(EBITDA-CAPEX) 6.6x 4.0x 216.7x 7.2x 2.5x 1.5x
Altman Z Score 1.68 2.09 1.74 2.25 2.69 4.12
Growth Over Prior Year

Total Revenue 23.3% 19.0% (3.2%) (0.1%) (2.6%) 9.7%
Gross Profit 37.0% 19.7% (15.4%) 58.4% (0.1%) (8.5%)
EBITDA 49.6% 7.6% (39.6%) 28.3% 39.8% 7.4%
EBITA 67.3% 6.1% (57.6%) 75.8% 44.6% 15.1%
EBIT 67.3% 6.1% (56.9%) 66.8% 49.3% 15.1%
Earnings from Cont. Ops. 82.5% 4.8% (71.6%) 115.3% 121.2% 21.8%
Net Income 82.5% 4.8% (71.6%) 114.9% 121.5% 21.6%
Normalized Net Income 88.8% 5.8% (77.6%) 173.8% 84.7% 30.4%
Diluted EPS before Extra 82.5% 4.8% (71.6%) 114.9% 128.9% 21.7%
Accounts Receivable 18.7% 49.1% (0.9%) 24.6% 23.7% 17.7%

Inventory 25.2% 21.1% 15.3% (23.9%) 5.5% 4.8%
Net PP&E 7.1% 1.6% 4.2% 3.8% 0.9% 0.2%
Total Assets 6.2% 6.8% 5.8% 2.3% (0.9%) 1.8%
Tangible Book Value 18.9% 14.4% 1.4% 9.0% 20.8% 21.8%

Common Equity 18.2% 15.6% 3.7% 6.8% 19.3% 21.1%
Cash from Ops. 39.5% (18.8%) (27.5%) 83.2% 16.9% 2.6%
Capital Expenditures (32.0%) (29.4%) 54.1% (28.5%) (32.5%) 2.7%
Levered Free Cash Flow NM NM NM NM 149.2% (16.8%)
Unlevered Free Cash Flow NM 363.8% NM NM 103.2% (20.4%)
Dividend per Share 100.0% 20.0% (66.7%) 50.0% 100.0% 0.0%
Compound Annual Growth Rate Over Two Years

Total Revenue 7.3% 21.2% 7.4% (1.6%) (1.3%) 3.4%
Gross Profit 23.4% 28.0% 0.6% 15.8% 25.8% (4.4%)
EBITDA 5.7% 26.9% (19.4%) (12.0%) 33.9% 22.5%
EBITA 3.2% 33.2% (32.9%) (13.6%) 59.4% 29.0%
EBIT 3.2% 33.2% (32.4%) (15.2%) 57.8% 31.1%
Earnings from Cont. Ops. 4.3% 38.3% (45.5%) (21.9%) 118.3% 64.1%
Net Income 4.3% 38.3% (45.5%) (21.9%) 118.2% 64.1%
Normalized Net Income 2.5% 41.4% (51.3%) (21.6%) 124.9% 55.2%
Diluted EPS before Extra 4.4% 38.3% (45.5%) (21.9%) 121.8% 66.9%
Accounts Receivable 15.6% 33.1% 21.5% 11.1% 24.1% 20.7%

Inventory 9.1% 23.1% 18.1% (6.3%) (10.4%) 5.1%
Net PP&E 6.9% 4.4% 2.9% 4.0% 2.3% 0.6%
Total Assets 7.4% 6.5% 6.3% 4.0% 0.7% 0.5%

Common Equity 14.7% 16.9% 9.5% 5.2% 12.9% 20.2%
Cash from Ops. 12.6% 6.4% (23.3%) 15.2% 46.3% 9.5%
Capital Expenditures (1.5%) (30.7%) 4.3% 5.0% (30.5%) (16.7%)
Levered Free Cash Flow NM NM NM 59.8% NM 44.0%
Unlevered Free Cash Flow NM NM NM 36.9% NM 27.2%
Dividend per Share 11.8% 54.9% (36.8%) (29.3%) 73.2% 41.4%
Compound Annual Growth Rate Over Three Years

Total Revenue 9.5% 11.1% 12.4% 4.8% (1.9%) 2.2%
Gross Profit 19.5% 22.2% 11.5% 17.1% 10.2% 13.1%
EBITDA 7.4% 6.3% (1.0%) (5.9%) 2.7% 24.4%
EBITA 3.5% 4.2% (9.0%) (7.5%) 2.5% 43.0%
EBIT 3.5% 4.2% (8.6%) (8.7%) 2.4% 42.0%
Earnings from Cont. Ops. 1.9% 4.5% (18.4%) (13.8%) 10.5% 79.7%
Net Income 1.9% 4.5% (18.4%) (13.9%) 10.5% 79.5%
Normalized Net Income 0.7% 3.6% (23.5%) (13.4%) 4.3% 87.5%

Inventory 14.3% 13.0% 20.5% 2.0% (2.6%) (5.6%)
Net PP&E 8.1% 5.1% 4.3% 3.2% 2.9% 1.6%
Total Assets 9.2% 7.2% 6.3% 5.0% 2.4% 1.1%

Common Equity 17.6% 15.0% 12.3% 8.6% 9.7% 15.6%
Cash from Ops. 10.5% 1.0% (6.3%) 2.5% 15.8% 30.0%
Capital Expenditures (23.9%) (11.9%) (9.5%) (8.0%) (9.4%) (20.9%)
Levered Free Cash Flow NM NM NM NM 85.3% NM
Unlevered Free Cash Flow NM NM NM 105.6% 56.2% NM
Compound Annual Growth Rate Over Five Years

Total Revenue 15.4% 13.8% 8.7% 5.8% 6.7% 4.2%
Gross Profit 19.1% 17.3% 11.6% 19.6% 17.0% 7.9%
EBITDA 11.7% 6.7% (4.3%) (1.4%) 11.7% 4.6%
EBITA 8.1% 2.9% (13.0%) (3.4%) 13.9% 5.6%
EBIT 8.1% 2.9% (12.7%) (4.1%) 13.7% 5.5%
Earnings from Cont. Ops. 4.6% (0.2%) (20.6%) (7.0%) 20.9% 11.5%
Net Income 4.6% (0.2%) (20.6%) (7.0%) 20.9% 11.5%
Normalized Net Income 3.5% (0.9%) (24.7%) (7.4%) 17.8% 9.4%

Inventory 30.8% 19.6% 15.8% 4.8% 7.0% 3.3%
Net PP&E 29.5% 13.4% 6.0% 4.7% 3.5% 2.1%
Total Assets 25.3% 14.1% 8.0% 5.9% 4.0% 3.1%

Common Equity 25.2% 20.0% 14.3% 11.0% 12.6% 13.1%
Cash from Ops. 22.9% 8.1% (4.5%) 6.5% 12.0% 5.3%
Capital Expenditures 11.5% (21.1%) (13.7%) (5.5%) (18.6%) (11.6%)
Levered Free Cash Flow NM NM NM NM NM NM
Unlevered Free Cash Flow NM NM NM NM NM 69.7%
7.4% 6.1% 5.7% 7.0% NA

9.9% 8.1% 7.3% 8.9% 7.3%
14.3% 11.8% 12.7% 14.6% NA
14.3% 11.8% 12.7% 14.6% 16.6%
64.6% 61.4% 62.4% 66.8% 63.4%

30.1% 31.7% 31.6% 28.3% 29.0%
25.3% 20.2% 21.3% 29.6% 24.5%
19.0% 14.6% 15.7% 23.0% 18.0%
18.9% 14.6% 15.6% 22.9% 18.0%
12.8% 9.9% 11.2% 14.8% 16.5%
12.7% 9.9% 11.2% 14.8% 16.5%
12.7% 9.9% 11.2% 14.8% 16.5%
11.4% 8.7% 9.2% 13.8% 10.4%
9.7% (11.8%) (22.6%) (4.2%) NA
10.5% (11.2%) (21.8%) (3.3%) NA
0.6x 0.7x 0.6x 0.5x NA

0.9x 0.9x 0.8x 0.6x NA
8.8x 11.0x 10.5x 11.6x NA
2.8x 3.6x 3.4x 2.8x NA
0.7x 0.7x 0.7x 0.6x NA

0.3x 0.3x 0.3x 0.3x NA
0.6x 0.4x 0.3x 0.8x NA
41.4 33.3 34.9 31.6 NA
132.5 102.8 109.0 129.5 NA
61.7 48.2 52.1 75.5 NA
112.2 87.8 91.9 85.5 NA
28.5% 38.2% 61.2% 55.4% 55.5%

22.2% 27.6% 38.0% 35.7% 35.7%
10.2% 15.4% 36.8% 37.8% NA
7.9% 11.2% 22.8% 24.3% NA
42.6% 44.6% 50.6% 49.9% NA
14.5x 15.4x 12.7x 15.3x 12.4x

19.4x 21.4x 17.3x 19.8x 17.0x
10.8x NM NM NM 17.0x
1.0x 1.7x 2.7x 2.0x 2.5x
1.0x 1.6x 2.6x 2.0x 2.4x
1.9x NM NM NM 2.5x
1.7x NM NM NM 2.4x
5.01 4.21 3.48 3.25 NA
11.4% 16.7% 4.4% (1.8%) 17.3%

5.4% 10.9% 6.1% 5.1% 14.2%
(8.0%) (6.8%) 9.8% 36.4% 5.9%
(11.3%) (10.1%) 11.6% 44.1% 1.0%
(11.1%) (10.1%) 11.6% 44.1% 1.0%
(14.8%) (9.6%) 18.3% 29.6% 37.7%
(14.9%) (9.5%) 18.3% 29.7% 37.8%
(7.6%) (10.6%) 10.0% 47.2% (1.2%)
(14.5%) (10.6%) 18.2% 30.8% 35.3%
(19.8%) 11.0% 7.5% (28.2%) NA

(2.7%) (0.0%) 15.3% (7.3%) NA
3.5% 14.0% 27.4% 18.8% NA
1.4% 14.4% 23.5% 13.0% NA
8.8% 10.5% 10.3% 14.7% 19.6%

8.4% 10.3% 10.2% 14.6% 19.6%
0.6% (29.5%) (5.6%) 153.0% NA
61.5% 143.3% 59.1% (8.0%) NA
(25.9%) NM NM NM NA
(27.8%) NM NM NM NA
0.0% 0.0% (16.7%) 20.0% NA
10.5% 14.0% 10.4% 1.2% 3.5%

(1.8%) 8.1% 8.5% 5.6% 4.4%
(0.6%) (7.4%) 1.2% 22.4% 9.9%
1.1% (10.7%) 0.2% 26.8% 8.5%
1.1% (10.6%) 0.2% 26.8% 8.5%
1.8% (12.2%) 3.4% 23.8% 25.0%
1.7% (12.2%) 3.5% 23.9% 25.1%
9.7% (9.1%) (0.9%) 27.2% 6.4%
2.0% (12.6%) 2.8% 24.3% 23.7%
(2.9%) (5.7%) 9.3% (12.1%) NA

1.0% (1.4%) 7.4% 3.4% NA
1.9% 8.6% 20.5% 23.0% NA
1.6% 7.7% 18.9% 18.2% NA
15.1% 9.7% 10.4% 12.5% 15.5%

14.6% 9.3% 10.3% 12.4% 15.5%
1.6% (15.8%) (18.4%) 54.5% NA
28.8% 98.2% 96.7% 21.0% NA
(21.5%) NM NM NM NA
(24.2%) NM NM NM NA
0.0% 0.0% (8.7%) 0.0% NA
6.0% 12.5% 10.7% 6.1% NA

(1.2%) 2.3% 7.4% 7.3% NA
11.3% (2.7%) (2.0%) 11.8% NA
13.9% (2.8%) (3.8%) 13.1% NA
15.2% (2.8%) (3.7%) 13.1% NA
31.9% (2.1%) (3.0%) 11.5% NA
31.9% (2.2%) (3.0%) 11.6% NA
30.5% 2.5% (3.2%) 13.1% NA
33.6% (2.4%) (3.3%) 11.4% NA
5.3% 1.6% (1.5%) (5.0%) NA

2.5% 0.7% 3.9% 2.2% NA
1.5% 5.8% 14.5% 19.9% NA
0.8% 5.7% 12.7% 16.9% NA
17.0% 13.6% 9.9% 11.8% NA

16.1% 13.1% 9.6% 11.7% NA
6.5% (10.0%) (12.5%) 19.0% NA
3.9% 59.2% 84.2% 52.7% NA
15.4% NM NM NM NA
5.3% NM NM NM NA
26.0% 0.0% (5.9%) 0.0% NA
2.9% 6.8% 7.7% 7.9% NA

5.2% 11.1% 2.5% 3.6% NA
1.3% 10.6% 7.2% 6.6% NA
1.9% 18.5% 8.2% 8.1% NA
1.9% 18.0% 8.9% 8.1% NA
7.0% 34.9% 19.7% 7.5% NA
6.9% 34.8% 19.7% 7.5% NA
6.4% 40.3% 16.9% 11.7% NA
7.8% 35.6% 20.3% 7.5% NA
7.6% 10.0% 6.9% (4.1%) NA

(1.2%) (3.9%) 4.4% 1.7% NA
2.5% 4.4% 8.7% 12.3% NA
2.1% 3.7% 7.7% 10.5% NA
12.1% 14.0% 14.3% 13.1% NA

11.6% 13.0% 13.8% 12.8% NA
9.9% 9.3% (4.3%) 11.7% NA
4.3% 14.3% 34.1% 42.7% NA
31.4% NM NM NM NA
17.0% NM NM NM NA
0.0% 24.6% 10.8% 0.0% NA
The Ramco Cements Limited (NSEI:RAMCOCEM) > Financials > Supplemental
In Millions of the reported currency, except per share items. Restatement: Latest Filings Period Type: Annual
Decimals: Capital IQ (Default) Source: Capital IQ & Proprietary Data
Supplemental
Options Outstanding
Options Out. at the Beginning of the Period - - - - - -
Options Granted During the Period - - - - - -
Options Exercised During the Period - - - - - -
Options Out. at the End of the Period - - - - - -
W/Avg. Strike Price of Out. at the End of the Period - - - - - -
W/Avg. Strike Price of Granted - - - - - -
Options Outstanding - All Classes

Options Out. at the Beginning of the Period - - - - - -
Options Granted During the Period - - - - - -
Options Exercised During the Period - - - - - -
Options Out. at the End of the Period - - - - - -
Stock Based Compensation

Stock Options Comp. Exp., Before Tax - - - - - -
Stock Based Comp. Exp., Before Tax - - - - - -
Capitalized Interest Data

Interest Capitalized - - - - - -
Fair Value Measurements

Level 1 Assets - Quoted Prices - - - - 32.4 44.1
Level 3 Assets - Unobservable Prices - - - - 221.2 221.2
Fair Value of Assets - - - - 253.6 265.3
Level 2 Liabilities - Observable Prices - - - - 4.6 0.6

Fair Value of Liabilities - - - - 4.6 0.6
Fair Value Change Included in Earnings - - - - (0.3) 0.5

12 months 12 months 12 months 12 months
Mar-31-2018 Mar-31-2019 Mar-31-2020 Mar-31-2021
INR INR INR INR
- - - 0.5
- - 0.5 0.2
- - - 0.3
- - 0.5 0.4
- - 55.65 56.99
- - 55.65 50.5
- - - 0.5
- - 0.5 0.2
- - - 0.3
- - 0.5 0.4
- - 215.2 195.4
- - 215.2 195.4
33.1 - 166.1 274.3
52.5 45.5 34.8 57.5

221.2 221.3 221.3 221.3
273.7 266.8 256.1 278.8
- - - -
- - - -
0.2 (0.2) (1.7) 2.1
Jul-09-2019 Aug-13-2020 Jul-21-2021 Jul-21-2021

The Ramco Cements Limited (NSEI:RAMCOCEM) > Financials > Industry Specific
except per
share items. Restatement: Latest Filings Period Type: Annual
Currency: Reported Cur Conversion: Today's Spot Rate
Order: Latest on Rig Units: S&P Capital IQ (Default)
Decimals: Capital IQ (De Source: Capital IQ & Proprietary Data
Industry Specific
No Data Available
The Ramco Cements Limited (NSEI:RAMCOCEM) > Financials > Pension/OPEB
In Millions of the reported currency, except per share items. Restatement: Latest Filings Period Type: Annual
Decimals: Capital IQ (Default) Source: Capital IQ & Proprietary Data
Pension/OPEB
Pension Information - Total
Defined Benefit Net Periodic Cost
Def. Benefit Service Cost 22.6 26.2 27.1 28.0 30.8 34.2
Def. Benefit Plan Interest Cost 24.5 28.3 32.0 40.1 39.4 48.4
Def. Benefit Plan Return on Assets (12.6) (13.6) (17.1) (19.1) (27.3) (33.9)
Def. Benefit Net Interest Cost & Income - - - - - -
Def. Benefit Plan Other Cost 19.1 11.0 14.5 25.3 17.0 7.2
Def. Benefit Plan Total Cost 53.6 51.9 56.5 74.3 59.9 55.9
Def. Contribution Plan Cost 126.1 138.9 164.8 173.9 186.3 201.6
Total Pension Expense 179.7 190.8 221.3 248.2 246.2 257.5
Defined Benefit Obligation

Beg. Def. Benefit Obligation 322.9 362.9 415.0 466.1 525.1 612.4
Def. Benefit Interest Cost 24.5 28.3 32.0 40.1 39.4 48.4
Def. Benefit Actuarial Gain/Losses 24.6 16.7 22.7 30.3 44.0 38.4
Def. Benefits Paid (31.7) (19.1) (30.7) (39.4) (26.9) (29.6)
Acq. Benefit Obligation - - - - - -
Other Adj. To Def. Benefit Obligation - - - - - -
Proj. Benefit Obligation (Pension) 362.9 415.0 466.1 525.1 612.4 703.8
Plan Assets
Beg. Plan Assets 212.7 236.7 272.7 300.9 337.9 397.6
Actual Return on Plan Assets 18.1 19.3 25.3 24.1 25.9 29.4
Employer Contributions 37.6 35.8 33.6 52.3 60.7 71.8
Benefits Paid (31.7) (19.1) (30.7) (39.4) (26.9) (29.6)
Total Plan Assets 236.7 272.7 300.9 337.9 397.6 469.2
Weighted Avg. Assumptions on Net Periodic Cost

Exp. Long-Term Rate of Return on Assets - Min 6.2% 6.2% 6.2% 6.2% 8.1% 7.3%
Exp. Long-Term Rate of Return on Assets - Max 6.2% 6.2% 6.2% 6.2% 8.1% 7.3%
Breakdown of Plan Assets

Plan Assets - Fixed Income (%) 0.8% 0.8% 0.5% 0.2% 0.2% -
Other Plan Assets (%) 99.2% 99.2% 99.5% 99.8% 99.8% 100.0%

Plan Assets - Fixed Income 1.9 2.1 1.5 0.7 0.8 -
Other Plan Assets 234.8 270.6 299.4 337.2 396.8 469.2
Weighted Avg. Assumptions on Def. Benefit Obligation

PBO Assumed Rate of Return - Min 8.0% 8.0% 9.0% 7.7% 8.1% 7.3%
PBO Assumed Rate of Return - Max 8.0% 8.0% 9.0% 7.7% 8.1% 7.3%
Rate of PBO Compensation Increase - Min 4.0% 3.5% 3.5% 3.0% 3.5% 3.3%
Rate of PBO Compensation Increase - Max 4.0% 3.5% 3.5% 3.0% 3.5% 3.3%
Estimated Future Benefits Paid

Est. Future Benefits Paid - 1st Yr - - - - - 107.6
Est. Future Benefits Paid - 2nd Yr - - - - - 128.7
Est. Future Benefits Paid - 3rd Yr - - - - - 50.1
Est. Future Benefits Paid - 4th Yr - - - - - 53.4
Est. Future Benefits Paid - Thereafter - - - - - 289.5
Adj. for Liability Recognized on Balance Sheet

Net Asset/Liability Recognized on Balance Sheet (126.2) (142.3) (165.2) (187.2) (214.8) (234.6)
Consolidated Balance Sheet Amounts

Current Liabilities (13.2) (16.3) (40.4) (44.9) (214.8) (234.6)
Long Term Liabilities (113.0) (126.0) (124.8) (142.3) - -
Other Pension Related Items

Est. Contributions - Next Year - - - - - 63.4
Benefit Info Date Mar-31-2012 Mar-31-2013 Mar-31-2014 Mar-31-2015 Mar-31-2016 Mar-31-2017
Pension Information - Domestic
Defined Benefit Net Periodic Cost
Def. Benefit Return On Assets (12.6) (13.6) (17.1) (19.1) (27.3) (33.9)
Def. Benefit Net Interest Cost & Income - - - - - -
Def. Benefit Other Cost 19.1 11.0 14.5 25.3 17.0 7.2
Def. Benefit Total Cost 53.6 51.9 56.5 74.3 59.9 55.9
Defined Benefit Obligation

Beg. Def. Benefit Obligation 322.9 362.9 415.0 466.1 525.1 612.4
Def. Benefit Actuarial Gain/Losses 24.6 16.7 22.7 30.3 44.0 38.4
Def. Benefits Paid (31.7) (19.1) (30.7) (39.4) (26.9) (29.6)
Acq. Benefit Obligation - - - - - -
Other Adj. To Def. Benefit Obligation - - - - - -
Proj. Benefit Obligation (Pension) - Domestic 362.9 415.0 466.1 525.1 612.4 703.8
Plan Assets
Beg. Plan Assets 212.7 236.7 272.7 300.9 337.9 397.6
Actual Return on Plan Assets 18.1 19.3 25.3 24.1 25.9 29.4
Employer Contributions 37.6 35.8 33.6 52.3 60.7 71.8
Benefits Paid (31.7) (19.1) (30.7) (39.4) (26.9) (29.6)
Total Plan Assets 236.7 272.7 300.9 337.9 397.6 469.2
Weighted Avg. Assumptions on Net Periodic Cost

Exp. Long-Term Rate of Return on Assets - Min 6.2% 6.2% 6.2% 6.2% 8.1% 7.3%
Exp. Long-Term Rate of Return on Assets - Max 6.2% 6.2% 6.2% 6.2% 8.1% 7.3%

Plan Assets - Fixed Income (%) 0.8% 0.8% 0.5% 0.2% 0.2% -
Other Plan Assets (%) 99.2% 99.2% 99.5% 99.8% 99.8% 100.0%

Plan Assets - Fixed Income 1.9 2.1 1.5 0.7 0.8 -
Other Plan Assets 234.8 270.6 299.4 337.2 396.8 469.2
Weighted Avg. Assumptions on Def. Benefit Obligation

PBO Assumed Rate of Return - Min 8.0% 8.0% 9.0% 7.7% 8.1% 7.3%
PBO Assumed Rate of Return - Max 8.0% 8.0% 9.0% 7.7% 8.1% 7.3%
Rate of PBO Compensation Increase - Min 4.0% 3.5% 3.5% 3.0% 3.5% 3.3%
Rate of PBO Compensation Increase - Max 4.0% 3.5% 3.5% 3.0% 3.5% 3.3%
Estimated Future Benefits Paid

Est. Future Benefits Paid - 1st Yr - - - - - 107.6
Est. Future Benefits Paid - 2nd Yr - - - - - 128.7
Est. Future Benefits Paid - 3rd Yr - - - - - 50.1
Est. Future Benefits Paid - Thereafter - - - - - 289.5
Adj. for Liability Recognized on Balance Sheet

Net Asset/Liability Recognized on Balance Sheet (126.2) (142.3) (165.2) (187.2) (214.8) (234.6)
Consolidated Balance Sheet Amounts

Current Liabilities (13.2) (16.3) (40.4) (44.9) (214.8) (234.6)
Long Term Liabilities (113.0) (126.0) (124.8) (142.3) - -
Other Pension Related Items

Est. Contributions - Next Year - - - - - 63.4
Benefit Info Date Mar-31-2012 Mar-31-2013 Mar-31-2014 Mar-31-2015 Mar-31-2016 Mar-31-2017
Mar-31-2018 Mar-31-2019 Mar-31-2020 Mar-31-2021
INR INR INR INR
35.9 38.6 43.4 54.4

- 55.7 60.1 60.3
- (42.0) (46.9) (47.9)
15.4 - - -
15.6 40.4 (17.2) 57.2
66.9 92.7 39.4 124.0
219.9 238.7 270.7 290.5

286.8 331.4 310.1 414.5
703.8 762.8 800.9 936.8

35.9 38.6 43.4 54.4
49.8 55.7 60.1 60.3
19.0 76.7 134.0 133.0
(46.8) (132.9) (50.6) (72.4)
1.1 - - -
- - (51.0) -
762.8 800.9 936.8 1,112.1
469.2 507.6 575.1 673.6

35.8 33.1 40.5 43.3
49.4 167.3 108.6 150.6
(46.8) (132.9) (50.6) (72.4)
507.6 575.1 673.6 795.1
8.0% 7.7% 6.7% 6.9%

8.0% 7.8% 6.7% 7.0%
0.0% 0.0% 12.2% 14.3%

100.0% 100.0% 87.8% 85.7%
0.1 0.1 82.0 113.6

507.5 575.0 591.6 681.5
- 7.7% 6.7% 6.9%

- 7.8% 6.7% 7.0%
3.5% 4.0% 4.0% 4.5%
3.5% 4.0% 4.0% 5.0%
122.3 19.0 26.8 100.6

151.0 202.2 115.6 82.3
59.0 70.3 56.0 54.5
62.8 65.7 61.1 78.6
78.9 68.5 71.9 45.3
300.2 342.5 391.9 488.0
(255.2) (225.8) (263.2) (317.0)
(255.2) (225.8) (263.2) (317.0)

- - - -
28.6 35.0 76.9 125.0

Mar-31-2018 Mar-31-2019 Mar-31-2020 Mar-31-2021
35.9 38.6 43.4 54.4
- 55.7 60.1 60.3
- (42.0) (46.9) (47.9)
15.4 - - -
15.6 40.4 (17.2) 57.2
66.9 92.7 39.4 124.0
703.8 762.8 800.9 936.8

35.9 38.6 43.4 54.4
49.8 55.7 60.1 60.3
19.0 76.7 134.0 133.0
(46.8) (132.9) (50.6) (72.4)
1.1 - - -
- - (51.0) -
762.8 800.9 936.8 1,112.1
469.2 507.6 575.1 673.6

35.8 33.1 40.5 43.3
49.4 167.3 108.6 150.6
(46.8) (132.9) (50.6) (72.4)
507.6 575.1 673.6 795.1
8.0% 7.7% 6.7% 6.9%

8.0% 7.8% 6.7% 7.0%
0.0% 0.0% 12.2% 14.3%

100.0% 100.0% 87.8% 85.7%
0.1 0.1 82.0 113.6

507.5 575.0 591.6 681.5
8.0% 7.7% 6.7% 6.9%
8.0% 7.8% 6.7% 7.0%
3.5% 4.0% 4.0% 4.5%
3.5% 4.0% 4.0% 5.0%
122.3 19.0 26.8 100.6

151.0 202.2 115.6 82.3
59.0 70.3 56.0 54.5
62.8 65.7 61.1 78.6
78.9 68.5 71.9 45.3
300.2 342.5 391.9 488.0
(255.2) (225.8) (263.2) (317.0)
(255.2) (225.8) (263.2) (317.0)

- - - -
28.6 35.0 76.9 125.0

Mar-31-2018 Mar-31-2019 Mar-31-2020 Mar-31-2021
The Ramco Cements Limited (NSEI:RAMCOCEM) > Financials > Segments
In Millions of the reported currency. View By: Line Items Restatement: Latest Filings
Business Segments
Revenues
Cement and Cementitious Materials - - - - 36,217.4 39,732.0
Cement 31,620.3 37,437.2 36,633.9 36,637.8 - -
Power from Windmills 961.8 1,095.8 851.6 828.7 - -
Corporate (345.9) (225.0) (80.2) (108.6) - -
Total Revenues 32,236.2 38,308.0 37,405.3 37,357.9 36,217.4 39,732.0
Operating Profit Before Tax

Cement 7,988.2 8,800.9 4,206.7 6,440.1 - -
Power from Windmills 283.3 219.7 178.9 99.4 - -
Corporate (1,148.3) (1,426.6) (1,257.0) (1,248.5) - -
Total Operating Profit Before Tax 7,123.2 7,594.0 3,128.6 5,291.0 - -
Interest Expense
Cement and Cementitious Materials - - - - (1,818.5) (1,038.4)
Total Interest Expense - - - - (1,818.5) (1,038.4)
Net Profit Before Tax

Total Net Profit Before Tax - - - - 6,629.2 8,569.1
Tax Expense
Total Tax Expense - - - - 1,316.6 2,027.0
Net Profit After Tax

Total Net Profit After Tax - - - - 5,452.3 6,627.4
Assets
Cement 47,708.0 52,256.6 55,804.5 57,835.1 - -
Power from Windmills 6,670.5 6,412.2 5,856.4 5,163.1 - -
Corporate 6,203.9 6,045.0 6,794.1 7,059.3 - -
Total Assets 60,582.4 64,713.8 68,455.0 70,057.5 69,442.9 70,705.1
Depreciation & Amortization

Cement 2,021.7 2,262.8 2,511.9 2,028.3 - -
Power from Windmills 454.1 445.1 412.9 310.6 - -
Corporate 63.2 97.9 139.5 173.5 - -
Total Depreciation & Amortization 2,539.0 2,805.8 3,064.3 2,512.4 3,152.5 2,750.0
Capital Expenditure
Cement and Cementitious Materials - - - - (2,989.6) (3,071.3)
Cement (5,575.8) (3,553.6) (5,325.7) (4,480.5) - -
Power from Windmills - (1.2) (12.8) (2.7) - -
Corporate (79.5) (464.6) (609.5) (293.5) - -
Total Capital Expenditure (5,655.3) (4,019.4) (5,948.0) (4,776.7) (2,989.6) (3,071.3)
Geographic
For the Fiscal Segments
Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Revenues
India 35,061.9 41,757.4 39,988.9 39,908.0 40,070.3 44,190.9
Export 142.6 287.0 824.5 732.4 579.3 523.5
Unallocated Sale of Power Generated from Windmills - - - - 518.7 901.8
Unallocated Income from Manpower Supply Services - - - - - -
Unallocated Income from Information Technology Services - - - - - -
Unallocated Scrap Sales - - - - 107.8 108.4
Unallocated Industrial Promotion Assistance - - - - 85.3 65.0
Unallocated Deferred Grant Income - - - - 32.7 30.6
Corporate (2,968.3) (3,736.4) (3,978.2) (4,086.9) - -
Total Revenues 32,236.2 38,308.0 36,835.2 36,553.5 41,394.1 45,820.2

Mar-31-2018 Mar-31-2019 Mar-31-2020 Mar-31-2021
INR INR INR INR
44,250.7 51,623.4 54,014.0 53,005.4

- - - -
- - - -
- - - -
44,250.7 51,623.4 54,014.0 53,005.4
- - - -
- - - -
- - - -
- - - -
(577.1) (488.7) (661.7) (790.7)

(577.1) (488.7) (661.7) (790.7)
7,917.2 7,180.7 7,922.4 11,435.0

7,917.2 7,180.7 7,922.4 11,435.0
2,311.9 2,106.1 1,878.5 3,799.2

2,311.9 2,106.1 1,878.5 3,799.2
5,641.8 5,107.2 6,041.4 7,836.4

5,641.8 5,107.2 6,041.4 7,836.4
71,694.5 82,037.9 101,327.6 114,549.2

- - - -
- - - -
- - - -
71,694.5 82,037.9 101,327.6 114,549.2
2,822.4 2,909.8 3,061.9 3,527.5

- - - -
- - - -
- - - -
2,822.4 2,909.8 3,061.9 3,527.5
(4,961.0) (12,069.9) (19,201.0) (17,670.1)

- - - -
- - - -
- - - -
(4,961.0) (12,069.9) (19,201.0) (17,670.1)
Jul-09-2019 Aug-13-2020 Jul-21-2021 Jul-21-2021

Mar-31-2018 Mar-31-2019 Mar-31-2020 Mar-31-2021
INR INR INR INR
44,221.2 49,477.6 51,717.1 51,654.8

559.7 1,124.8 1,137.1 232.2
843.9 766.0 724.2 695.0
- - 12.2 16.4
12.4 11.9 52.8 78.2
100.3 116.6 119.8 140.0
90.8 103.5 107.2 79.6
21.6 23.0 22.6 13.8
- - - -
45,849.9 51,623.4 53,893.0 52,910.0
Jul-09-2019 Aug-13-2020 Jul-21-2021 Jul-21-2021

The Ramco Cements Limited NSEI RAMCOCEM Financials

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

The Ramco Cements Limited NSEI RAMCOCEM Financials

Uploaded by

Copyright:

Available Formats

The Ramco Cements Limited (NSEI:RAMCOCEM) > Financials > Key Stats

Total Revenue 32,270.1 38,416.5 37,199.2 37,169.8 36,217.4 39,732.0

Gross Profit 18,494.5 22,131.5 18,733.3 29,670.7 29,634.9 27,108.6

EBITDA 9,743.6 10,482.3 6,327.4 8,118.9 11,350.0 12,184.3

EBIT 7,204.6 7,640.6 3,291.8 5,489.8 8,197.5 9,434.3

Net Income 3,851.1 4,036.5 1,145.5 2,461.3 5,452.3 6,627.4

Market Capitalization 172,860.2

Book Value of Common Equity 64,273.2

TEV/EBITDA 12.8x 14.3x 14.90x 11.71x 9.99x

TEV/EBIT 16.5x 19.6x 20.86x 15.89x 13.17x

P/Diluted EPS Before Extra 21.6x 17.5x 21.51x 19.29x 15.31x

P/BV 3.0x 2.7x 2.62x 2.33x 2.05x

Price/Tang BV 3.1x 2.7x - - -

44,250.7 51,623.4 53,893.0 52,910.0 59,240.2 61,655.04

28,573.5 31,692.0 33,616.4 35,343.0 37,546.8 -

11,205.8 10,449.2 11,471.1 15,647.2 14,523.9 13,793.35

8,383.4 7,539.4 8,413.9 12,126.4 10,655.4 9,853.43

5,655.0 5,114.3 6,050.7 7,843.3 9,796.0 -

5,641.8 5,107.2 6,041.4 7,836.4 9,790.7 7,922.28

24.62 22.0 26.0 34.0 41.97 33.61

Revenue 32,236.2 38,308.0 36,835.2 36,553.5 35,817.6 39,673.3

Cost Of Goods Sold 13,775.6 16,285.0 18,465.9 7,499.1 6,582.5 12,623.4

Operating Income 7,204.6 7,640.6 3,291.8 5,489.8 8,197.5 9,434.3

Interest Expense (1,390.0) (1,652.5) (1,830.8) (1,908.0) (1,818.5) (1,038.4)

Income/(Loss) from Affiliates - - - 28.1 140.6 97.7

Income Tax Expense 1,723.1 1,845.6 165.3 1,147.4 1,316.6 2,027.0

Earnings of Discontinued Ops. - - - - - -

Minority Int. in Earnings - - 0.7 (3.8) (0.9) (12.4)

Pref. Dividends and Other Adj. - - - - - -

Per Share Items

Diluted EPS 16.16 16.94 4.81 10.33 23.64 28.78

Normalized Basic EPS 14.61 15.46 3.47 9.49 18.12 23.65

Dividends per Share 2.5 3.0 1.0 1.5 3.0 3.0

Normalized Net Income 3,481.9 3,685.1 826.3 2,262.3 4,178.4 5,447.6

Supplemental Operating Expense Items

Stock-Based Comp., SG&A Exp. - - - - - -

44,250.4 51,623.4 53,893.0 52,910.0 59,255.4

15,677.2 19,931.4 20,276.6 17,567.0 21,693.4

13,316.9 16,359.8 17,027.2 14,995.2 17,165.7

20,190.1 24,152.6 25,202.5 23,216.6 26,891.4

8,383.4 7,539.4 8,413.9 12,126.4 10,655.4

(577.1) (488.7) (661.7) (790.7) (856.1)

49.7 39.7 6.8 207.5 (22.7)

2,311.9 2,106.1 1,878.5 3,799.2 41.4

(13.2) (7.1) (9.3) (6.9) (5.3)

5,641.8 5,107.2 6,041.4 7,836.4 9,790.7

24.62 22.39 26.5 34.34 42.32

24.62 22.0 26.0 34.0 41.97

21.95 19.71 21.69 31.9 26.6

3.0 3.0 2.5 3.0 NA

5,032.1 4,496.4 4,945.4 7,280.2 6,153.6

813.0 965.3 1,707.1 410.1 NA

- - 215.2 195.4 195.4

Revenue exactly as reported by the firm on its consolidated statement of income.

Accounts Receivable 2,079.4 3,100.4 3,071.3 3,825.4 4,731.3 5,569.3

Inventory 4,910.9 5,947.5 6,855.3 5,216.5 5,501.7 5,765.7

Long-term Investments 887.4 887.5 882.8 1,421.1 1,952.5 2,104.5

Long-Term Debt 15,007.5 13,930.6 15,203.5 17,273.4 10,594.6 5,110.4

Common Stock 238.0 238.0 238.0 238.1 238.1 238.1

Minority Interest - - 2.2 6.1 7.0 19.4

Total Equity 20,503.8 23,707.6 24,591.5 26,262.3 31,338.4 37,974.0

890.4 596.3 639.3 1,081.1 -

4,464.9 4,956.9 5,329.4 3,828.5 -

5,612.5 5,610.8 6,468.8 5,993.4 -