Dissertation Rahul

DISSERTATION
ON
“A study on financial performance analysis of selected FMCG Companies in India”
Submitted to:
Faculty of Management
In partial fulfillment of the requirement of the award for the degree of Integrated
Master of Business Administration.
GLS UNIVERSITY
Under the Guideline of:
Faculty guide
Dr Devrshi Upadhayay
Submitted By:
Ansh Agarwal (201900510010006)

Rahul Shah (201900510010264)
1
IMBA Semester VI
January, 2022
Institute’s Certificate
This is to certify that this Dissertation Report Titled “A STUDY ON FINANCIAL

PERFORMANCE ANALYSIS OF SELECTED FMCG COMPANIES IN INDIA” submitted
to the Faculty of Management, GLS University, in partial fulfilment for the award of the degree of
Bachelors of Business Management is a record of bonafide work of carried out by Mr. Rahul
Shah and Mr. Ansh Agarwal, who carried out the research under my supervision.
Faculty Guide Faculty of Management
2
PREFACE
As a part of Integrated MBA Curriculum and in order to gain practical knowledge in the field of
Management, we have prepared a report on “A STUDY ON FINANCIAL PERFORMANCE
ANALYSIS OF SELECTED FMCG COMPANIES IN INDIA”. The Integrated MBA
programme is a well-structured and integrated course of business management at GLS University.
The main objective of preparing the Dissertation at IMBA level is to develop skills in students by
providing them an opportunity to relate practical experience with the theoretical concepts and
principles of business management. The Dissertation has taught us how demographic factors play
a major role in consumer buying behavior. This project has helped us to have a glance of the
FMCG Industry and taught us how and what factors play major role while managing and in
decision making for this dynamic industry.
3
ACKNOWLEDGEMENT
Dissertation has provided us with an opportunity to gain information of “A STUDY ON

FINANCIAL PERFORMANCE ANALYSIS OF SELECTED FMCG COMPANIES IN
INDIA” from different sectors. It was an experience of applying the concepts as well as the
knowledge learned during classrooms in real life practical situations.Every Project Report is a
culmination of a student’s endeavor to gain optimum experience during a short valuable tenure.
This Project is dedicated to all the people to whom we met, talked, took guidance and learnt many
things from them. We take immense pleasure in taking this as an opportunity to express our deepest
gratitude to all those people whose guidance and support has made it possible for us to complete
this project successfully. First and foremost, we would like to convey our heartiest thanks to GLS
University for providing us with the huge platform for doing this Dissertation.
We are thankful to our Dean, Faculty of Management, Dr. Hitesh Ruparel for providing us constant
support from the institute. Our deepest gratitude to our project guides Prof. Dr. Devershi
Upadhayay Faculty Guide who in spite of their busy schedules have provided us with their
invaluable guidance, suggestions and directions, which enabled us during all stages of this project.
Finally, we would like to convey our deepest regard to everyone who have directly or indirectly
helped us in accomplishing this project.
4
DECLARATION
I,Rahul Shah a, hereby declare that the report for dissertation entitled “A STUDY ON
INDIA” is a result of my own work and my indebtedness to other work publications, references,
if any, have been duly acknowledged.
Place:
Date: Rahul Shah
DECLARATION
I, Ansh Agarwal, hereby declare that the report for dissertation entitled “A STUDY ON
INDIA”. is a result of my own work and my indebtedness to other work publications, references,
if any, have been duly acknowledged.
Place:
Date: Ansh Agarwal
5
INDEX
SR. NO TITLE PAGE NO.
1. CHAPTER 1- INTRODUCTION OD INDUSTRY 7-8
2. CHAPTER 2 - LITERATURE REVIEWS 9-21
3. CHAPTER 3 – RESEARCH PROPOSAL 22-23
4. CHAPTER 4 - BALANCE SHEET OF THE COMPANIES 24-64
5. CHAPTER 5 - Formula and financial ratio analysis 65-87
6. CHAPTER 6 - FINDING 88-89
7. CHAPTER 7- CONCLUSION 90
8. CHAPTER 8- BIBLIOGRAPHY 91-94
6
INTRODUCTION OF THE INDUSTRY
The Fast-moving consumer goods (FMCG) sector is the 4th largest sector of the Indian economy.
It is characterised by high turnover consumer packaged goods, i.e. goods that are produced,
distributed, marketed and consumed within a short span of time. FMCG products that dominate
the market today are detergents, toiletries, tooth cleaning products, cosmetics, etc. The FMCG
sector in India also includes pharmaceuticals, consumer electronics, soft drinks packaged food
products and chocolates. Since the sector encompasses a diverse range of products, different
companies dominate the market in various sub-sectors. However, some of the top FMCG
companies in India are- Dabur (60%), Colgate (54.7%), and Hindustan Unilever (54%).
The FMCG industry in India is divided into the demographics of rural and urban India. The urban
market contributes 60% of the consumption revenue of the FMCG market in India. In 2017, this
sector recorded a market size of $ 29.4 bn. While urban areas have spearheaded the growth of the
FMCG industry in India, semi-urban and rural segments are growing at a rate that cannot be
7
ignored. Semi-urban and rural segments contribute over 40% of the overall revenues of the FMCG
sector in India. FMCG companies in India have witnessed higher growth in rural areas compared
to urban ones. And with 12.2% of the world’s population living in the villages of India, the Indian
rural FMCG market cannot be ignored by investors. Dabur, one of the top FMCG companies in
India, generates over 45% of its domestic revenue through the sale of packaged consumer goods
in rural India. Hindustan Unilever, another name that has consistently dominated the list of top
FMCG companies in India, earns over 35% of its revenue from rural areas. Rural India accounts
for more than 40% of consumption in major FMCG categories such as personal care, fabric care,
and hot beverages. In urban areas, home and personal care category- including skin care, household
care, and feminine hygiene- will continue to grow at attractive rates. Within the foods segment, it
is estimated that processed foods, bakery, and dairy are long-term growth categories in both
rural and urban areas.
The FMCG sector is one of the largest sectors of the Indian economy. According to an FMCG
industry overview, revenues of the FMCG sector reached $ 52.75 bn in FY18, and are estimated
to reach $ 103.7 bn in 2020. As consumption in India grows at an unprecedented rate, the FMCG
industry remains a key sector for investors. Acknowledging these trends in the FMCG industry
profile, the Government of India has undertaken various initiatives to promote the sector. For
instance, 100% FDI is permitted in SBRT and cash-and-carry models of retail, and the minimum
capitalisation for foreign FMCG companies to invest in India is $ 100 MN. Even the
implementation of GST in India has had far-reaching consequences for the sector, as the highest
selling FMCG products such as soap, toothpaste and hair oil now come under the 18% tax bracket
(as opposed to the previous 24%).
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LITERATURE REVIEW
1. Yasser Mahfouz, Faisal Mahfouz (2014) the market for fairness creams around the globe
wasan untouched territory till mid-1970s. which was launched in India in 1975. It was a
turningpoint for the fairness cream business and several companies followed soon. Fair &
Lovelydidn’t take much time to become a household name with more and more women putting
theirtrust in the product for giving them the much-needed fair skin they always desired. A
productwhich started as another addition tothe product line, acquired the status of a super brand
by2004. The following case on the product Fair & Lovely gives a background of
themarketforfairnesscreamsinIndiaandfocusesondifferentaspectsofbehaviourofwomenasconsu
mersofthis product.
2. Kameswara Rao Poranki (2016) the increase in the usage in Cosmetics and toiletries
becomemanifold in India, because along with women more and more men are also using for
theirpersonal grooming. As a result the rising demand from men, the Indian market is
gettingenlargedandmanyplayersarecomingoutwithcosmeticproductsespeciallyskincareproducts
for men. With the globalization the increase in usage of cosmetic products and theirpenetration
into many markets leads to high competition among companies and to exploitopportunities
offered by this sector.
3. KalpeshPatel(2011),conductedastudyonconsumerbehaviourtowardsproductsofHUL.Themain
aim of the study was to find what the steps HUL are is adapting to be market leader
anddifferentiate it from competitors. Primary Data was collected through personal contact
byquestionnaire.Thesampleof100respondentswascollected.ThisstudyconcludesthatHULisdeliv
eringgood services and changes theybrought arewelltakenbycustomers.
4. Sathish A S, P. VenkataSubbaish (2017), conducted a study on rural marketing strategies

andits influences on buying behaviour of selected HUL products in Rayalsemma Region.
Themain objective of this study was to study the satisfaction level assured with selected
9
HULproducts in rural areas of AP state. The primary data was collected through survey
method.The sample size was 500 respondents. This study concludes that HUL needs to change
theirstrategies time to time to maintain satisfied customers and good position as per trends
inmarket.
5. Saikumar V (2016) conducted the study on various product of HUL and howthepreferencesof
consumers over the products. The study was conducted in Coimbatore city. The mainaimof the
study was to study the preferences of respondents in purchasing of selective HULproducts. The
primary data was collected using simple random samplingmethod. The totalnumber of
respondents was 120. This study concluded an attempt to focus
attentionofthebrandpreferencetowardsHULproduct.
6. P. Venkatasubhaiah and p.chaithnyabharathi (2018), the main objectives are to study the
ruralmarketing strategies of selected HUL products and its influent on studying behaviour of
theselected rural respondents from rural market in a.p state to assess consumer awareness for
hullproducts in rural areas. The methodology of this research is primary and secondary data
tappedtogether. The data will be collected on the scale the sample size was 500 respondents of
regionin a.p .the data was collected by research after developing rapport with the respondents.
Theconclusion of that project is the rural marketing strategies for the selected hull products in
theselectedareas.Topichasbeenrelatedofthatruralareastheuntappedmarketwithhighpotential.
7. Siddharth s bhardwaj and dev Kumar (2014), environmental scanning by fmcc companies
inIndia. A comperatitivestuy .the main objectives are to know the extent to which the
selectedFMCG. Companies indulges in environment scanning and to see which of the
environmentalforces influence the selected pmcg companies more .the methodology of the
research is bothprimary and secondary data is used by researcher to arrive at necessary
conclusions. In all 53managers from HUL, 57 managers from itc and so managers from p&g
have been included inthe sample. The conclusion of that project is hindustanunilevr ltd under
study has been foundmoreinclined towards scanningsupplier environmentthan its counterparts.
8. Mr Idanish Jha (2013), brand awareness and consumer PR preferences with reference
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toFMCG in rural Bihar. The main objectives are to study the brand awareness of rural
customersto FMCG products and to study the bran preference of rural customers for FMCG
products.The methodology of this project is the present study was undertaken to study the
brandawareness and brand preference towards FMCG products. The total sampleselected was
120and data has been collected on the basis on convenience sampling, datais analysed by the
helpof percentile mean standard aviation and presented by table a figure. The conclusion of
thatprojectinthefindingsfromthestudysuggestssomediscerniblepointsabouttheconsumer
behaviour of rural Bihar.
9. SandipkumarPrajapati&MitalThakur(June2015),conductedastudyonconsumerpreference
behaviour towards buying tooth paste. The objective of the study was to analyse
thedrasticchangesinconsumerbehaviourduetothepromotionalstrategiesadoptedby keymarketers.
Sample Unit was the customers who purchase and consume the toothpaste andsample size was
116. The study shows that the rural consumers are more concerned about thequality,brand name
oftheoral careproducts purchased bythem.
10. FirsieIdelroseKalangi& Peggy Adeline Mekel (2014) conducted a study on aesthetics

towards onfemaleconsumerbuyingdecisionofVaselinelotion.Theaimofthisstudyistoexaminethe
effects of package design aesthetics on female consumer buying decision of Vaselinelotions. A
sample of 100 respondents was taken for this study. It was found that Colour,Typographyand
MaterialhaveasignificantinfluenceonConsumerBuyingDecision.
11. Dr. E. Murali Dharshan & Srikanth Reddy Sama (2019), conducted a study on a study
onconsumer behaviour towards green tea. The purpose of this paper is to understand the
factorswhich influence consumer behavior towards green tea and comparison between two
majorbrands Lipton and Tetley. The objective was to analyse consumer purchase intention
towardsgreen tea. Data of 100respondents was collected by the method ofquestionnaire.It
wasfound that the price and health are the major factors which influence in decision making
forconsumptionofgreen tea.
11
12. ManjariRamkumar(June2015),conductedastudyonConsumerPurchasebehaviourtowards
Washing Powder. The objective was to study whether price influences the
purchasebehaviorofconsumertowardswashingpowder.Thesamplesizeis100and
thedatacollectionisthroughprimarydata.Therefore,itcanbeconcludedthatthemainfactorsthat lead
to the purchase decision for washing powder are price, quality, fragrance and promotion.
13. Anjana S (2018), A study on factors influencing cosmetic buying behavior of

consumers.Theobjective of the study was to attempt and identify the different factors that impact
andinfluences the customers for buying a product. Through this study, it was identified that
thefive factors, quality product, product price, brand name, product packaging and
advertisinghave greaterimpacton customerbuyingdecision.
14. Dr. Vinit Dan (May 2013), conducted a study on Buying behavior of toothpaste inUrban India.
The objective of the study understood the external factors likedemographic, social, product
attributes and other external influencers which impactconsumer decision making process for
buying toothpaste. The descriptive study wascarried out by interviewing 250 consumers. It was
concluded that Brands with identitieswhichsupport familyvalues tend to bepopular andaccepted
easilyinIndian market.
15. Saratha, 2018 This research here states about consumer satisfaction on personal careproducts
of Hindustan Unilever Ltd. Main objectives of this study is to identify thepreferred brand of
personal care products of Hindustan Unilever Limited and also tostudy the factors influencing
consumer satisfaction and level of customer satisfaction aswell on the personal care products.
In this research 60 respondents were taken as sample.Here data was collected with the help of
well -structured questionnaire. The researchshows that consumers give more importance to the
‘Price’ of the personal care brandsthey buy. Thus by concluding we came to know from this
research that ponds, Fair &Lovely, Lakme, clear, dove, close – up and axe are the preferred
brandsofpersonalcareproductsofHindustanUnileverLimitedwhichprovidessatisfactiontothecons
umersin the way of price, Quality and availability of the product.
12
16. Ms’ Manjari Pandey, (2016), conducted a study on Consumer Behaviour towards
ShampooBrands. The purpose of this research is to study brand preference among male &
femaleconsumers and also to study factors that influence consumer behaviour. This given
researchrevealed that consumers are more conscious towards their appearance.They found most
ofthe consumers preferred sachet as compared to bottles. This research is descriptive in
natureand mainly based on primary data. Total 60 samples were selected for the study
throughRandom Sampling Method. A questionnaire was framed to collect the primary data and
thedata so collected was analysed with the help of simple statistical tools. The results
werepresented and interpreted as per the data obtained from survey. Byconcluding this
research,thisstudyrevealedthatusagerateofshampooamongmales&femaleshasbeenhigh,mostof
the males (64%) prefer Head & Shoulders brand whereas most of the females (26%) prefer
Clinic Plus. It has been found that majority of female respondents not focusedtowards a
particular brand. Most of the respondents arenot very brand loyal. This indicatestheswitching,
alluringand swinish behaviour ofconsumers.
17. B. Indirapriyadarshini, (2016) This research states the Consumer Satisfaction on

personalcareproducts of Hindustan Unilever Ltd. Main objective of this research is to study
about thefactors influencing consumer satisfaction and also to study the level of consumer
satisfactiontowards personal care products. The research design adopted in this paper is
descriptive innature. This study is based on primary data collection. The sampling technique
used in thisresearch is convenient sampling. A sample of 50 respondents was taken into account
for thisstudy.Thus,thisresearchconcludesthatthatmostof therespondentsare satisfiedwithrespect
to Price, Quantity, Advertisement, Availability and Brand image of the personal careproducts.
18. (Kiranmayi,2017):Thisresearchstatesthatbuyer'sbehaviouractsasanimportantroleinmarketingo
fFMCGsgoods.MainobjectiveofthisstudyistoassessthefactorcompletinginchosenFMCGretailpo
intforshoppingandalsotoanalysethefactorsinfluencingconsumersonpurchaseofshampoo.Researc
hmethodthattheyhaveusedisbothdescriptiveandanalyticalinnature,mainlybasedonconsumerdeci
sionaboutFMCGs.Theconsumerbehaviourisaffectedchangedfactors.Inthecurrentsituationofglo
balizationconsumerneedsandrequirementsarerapidlychangingwithtime.TheFMCGsegmentispla
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yingavitalroleintheenlargementofIndia’sGDP.Itisveryimportanttoidentifythechangingscopeofc
onsumerbuyingbehaviourtowardsFMCGproducts.Itisnecessaryandrequiredtoidentifywithcusto
mersshoppingbehaviourwithregardtoselectretailoutlets.Thisresearchistohighlightthevariousfact
orsaffectconsumerbehaviourtowardsselectedFMCGgoods.Thus,thisresearchpaperconcludesfro
mthisFMCGcompanieswillhavetoactuallyincreaseinthemarketsin order to achievedouble
digitgrowth targets inexpectations.
19. Kameswara Rao Poranki (2015),the intricacies of consumer perception and behaviour
ofconsumer of cosmetics in India. The main objective are is to know the general perceptionof
consumer towards cosmetic products, To find out the growth of cosmetics sector in citylike
Visakhapatnam of India and to estimate awareness of consumer about Lakmé. Themethodology
of this research is simple random sampling is used and the primary data wascollected from 100
respondents and out of these 100 respondents 60 were specificallyLakmé customer and the age
group of respondents are 18-20, 21-24, 24-29 and some aremore than 30 years old. The
conclusion of that project is research study thus given insightvarious intricacies of consumer
perception and consumer behaviour related to the usage ofcosmetic product inIndia with
particular reference toLakmé ofHindustan UnileverLimited.
20. Pooja Gupta & Dr. Praveen Ojha (April – June 2019), conducted a study on
factorsinfluencing on consumer satisfaction – a comparative study on patanjaliAyurveda limited
&HindustanUnileverlimited.Theobjectiveofthestudywasinthiseraofintensecompetition,
especially within FMCG area, a person can achieve success only after
havingfullyunderstoodabouttheirtargetconsumersatisfaction.Samplesizewas155individuals.Th
epurposeofdatacollection, a self – designed questionnaire was utilized. In this research it was
concludedthatthemostoftherespondentsgotapositiveopinionfromtheusersofpatanjaliproducts,ap
artfromgoodqualityand reasonable pricecomparetoHULCompany.
21. AvinashKapoor(2009)andDr.Surinderstudyonawarenessandbrandperceptionofconsumer
14
towards Hindustan unclever ltd. And major objective are to study the awareness of the customer
towards the company itself through various medium. To study various fast moving goods of
Hindustan unilever limited and the methodology are a research design is the specification of
methods and procedures for acquiring the information. The study reveals that35% of the
respondents who are employed the main attribute that attracts them when seeing any
advertisements of the company are the products itself as well as 28% of the respondents who
are professionals. The study concludes that the collected information was analyses and
interpreted.
22. Preeti Pillai, (2016) This paper aims to understand the perception of consumers towardseco-
friendlywhitegoods,awarenessabouttheavailabilityofsuchproductsandthedemographic profile
of green consumers. From 105 responses it was found that all therespondents were aware about
degradation of the environment and also availability ofeco-friendly products. Only annual
family income had significant influence on perceptionof the respondents towards eco-friendly
air-conditioner. Green consumers are consideredto be young, educated and of service class
category. Eco-friendly products are perceivedby the consumers to be highly priced, lacks proper
promotion, difficult to identify fromconventionalones and unsureabout
thequalityorperformance.
23. Shweta Singh, Deepak Singh, KS Thakur, (2014)this research study is on the
greenmarketingbutspecificallyonconsumers'behaviorandpurchasepracticeofgreenproducts. It
has now been a global concern to protect environment form pollution
causedbyhumans.Withthisvitalinformationthroughtheresearchprovidedbydifferentresearchers
and expertise, companies have understood the importance and value of
greenmarketinginbusinessalso.Thisinformationisthebasisofliteratureofthisresearch study. The
objective of this research paper had looked into and explored the influence offour traditional
marketing mix elements, satisfaction and word of mouth (WOM) onattitude and purchasing
intentions of consumers on eco-friendly products specificallyfasting moving consumer goods
(FMCG) or non-durable ones. The purpose of this studyis to find out the behavior of consumer
toward green product and collect information onthesame
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24. R. Punniyamoorthy and Dr.B.Parthiban have both conducted study on identifying
fourfactorsthatinfluencethecreationofbrandawarenessthroughsuccessfulcustomerrelationships
pricing, packaging, brand image and brand loyalty in FMCG industry.
Themainobjectivebehindthisresearchwastoexaminethebrandawarenessoffemaleconsumerstowa
rdsFMCGproductsandknowhowtomaintainandimprovebrandawareness.Tounderstandtheresear
chtheyhavetakensampleof100respondancefromtheage group of (16-24).Afteranalysing the
dataitwasfound that average 66% whereaware
ofbrandofpersonalcareandthereisanincreasingtrendamongthefemaleconsumersinorphanagesab
outtheawarenessofvarious brandsespeciallyinfacewash.
25. Ms M. Gomati and Ms R. Gomati (In November, 2013) conducted a study on A Studyon
Consumer Preference towards Selected FMCG Personal Care Products in Erode
Town,Tamilnadu. Objectives for this research are: To know the brand awareness of
consumerstowards personal care products. Sample size was taken as 500 and they have
considered3typesofproductsi.e.,Shampoo,Soap,Washingpowder,andToothpaste.Theygotaprop
erresponse from their sample. At last, it was concluded that quality along with reasonablepriceis
themain factor for customers to buyanFMCG product.
26. Kelliher, et al. (2018) studied the role of trust in formal systems of micro-firms in rural
communities in Canada, Ireland, and the US. They found that trust was a developing asset and
fundamental to the sustainability of formal networks. Bridging capital between individuals of
the local network and outside resources was particularly important to network members in
small communities.
• Sarkar, et.al (2016) has analyzed the variations in rural marketing concepts and
presented definitions relating to these varying concepts. Nonetheless, there
seems to be a general disagreement about the aspects which should be involved
in rural marketing. This article considers the contents of various definitions of
rural marketing utilizing quantitative techniques in order to determine the
probable conceptual expansion of rural marketing. Just definitions of the term
‘rural marketing’ (not just a mention of ‘rural marketing’) are considered for the
present examination. Dimension reduction technique and frequency tabulations
are utilized for the content analysis. Apart from giving a definition of rural
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marketing utilizing the results of the content analysis, the present study
additionally found a strong relationship between developmental marketing and
the requirement for rural marketers to encourage demand through developmental
activities such as appointing local inhabitants as wholesalers, distributors, and
retailers of their products; or by utilizing local manpower in other operations
such as trade marketing, obtainment of raw materials and selling and dispersing
information on the marketer’s products directly to rural consumers.
27. Chakrabortyet.al (2015) stated that Indian Fast-Moving Consumer Goods (FMCG) sector
with a market share of $13.1 bn has currently proved itself as the 4th largest sector in the Indian
economy. Actually, rural India with more than 70 per cent share of the total Indian populace
has developed as the most significant FMCG market. During the last 2 decades, deregulation,
globalization and liberalization measures approved by the central government have made a
worldview change in the FMCG sector. Both the foreign direct & portfolio investments in
Indian FMCG sector in the post-reform period have remarkably impacted the financial
performance of the companies belonging to this sector. In addition, the expanding presence of
MNCs in the Indian market has constrained the existing domestic companies in the FMCG
sector to reorient their financial strategies so as to endure. Against this backdrop, the present
investigation seeks to measure the changing status of the overall financial performance of
sixteen selected companies in the Indian FMCG sector during the period 1993-94 to 2012-13.
The paper is sorted out as follows: it reviews the existing literature relating to the financial
performance of Indian FMCG sector, trailed by a depiction of the objectives and the
methodology adopted to pursue them. In this way, the discoveries of the study are discussed,
and lastly, the conclusion is offered.
28. Malhotra (2014) stated that the paper focuses on marketing of fast moving consumer goods.
FMCG are generally low profit margin products and therefore sold in large quantities.
Subsequently, it is imperative to concentrate on how to improve brand value for the customers
as many brands are accessible for the same categories of products. Another area focussed in
the paper is how recession influences the demand for fast moving Consumer Goods and what
are the causes for these changes. In such a circumstance, it becomes necessary for the producers
or the companies to expand the investments in these brands and items so that consumers are
attracted towards them. In order to support these observations Dove’s Real Beauty Campaign
has been intricately discussed and the points which lead to the achievement of this campaign
have been highlighted. Unilever was able to make a brand value for Dove by roping in regular
consumers in its advertisements rather than professionals or celebrities. Normal consumer
women became its brand ambassadors instead of celebrities. In such a way it was able to relate
and connect better with the customers and the public at large in different companies where it
was actualized. Although it suffered from different points of criticisms, Unilever was highly
successful in creating a brand value for its products in the minds of the consumers.
17
29. Mahalingam, et.al (2012) concluded that the consumer behaviour plays a significant role in
marketing. This is affected by different factors. In the changing global scenario authors find
that consumers wants and needs to purchase a product also changes with it. In this study titled
"A Study on Consumer Behaviour towards Selected FMCG in Coimbatore City" the researcher
has evaluated the socioeconomic profile, shopping pattern of consumers and discovered the
factors affecting the consumer to buy the selected FMCG products. The primary data required
for the study was gathered through questionnaire which was distributed to 400 samples chosen
from Coimbatore city .The tools utilized for analysis are percentage analysis, Garrett ranking
and chi-square. From this investigation it was discovered that most of the consumers are
impacted by brand and quality in purchase of FMCG products. There by the researcher has
recommended improving the quality in FMCG product through product development and
external monitoring.
30. Deliya (2012) considered the importance of bundling plan as a vehicle for correspondence for
bundled FMCG items. This examination utilized a center gathering approach to fathom
shopper conduct towards such items. The test for analysts is to consolidate bundling into a
compelling buying choice model, by understanding Consumer's conduct towards the bundling
of FMCG things. At the point when buyers chase for the cycle data coming up, the item's
bundle can contain relevant and significant information for the shopper. Item bundling
structures the finish of the 'advancement chain' and is close so as to the genuine buy and may
thus expect a critical function in foreseeing buyer results. Bundles similarly convey brand ID
and mark data like use rules, substance, and rundown of fixings or crude materials, advices for
use and mandates for care of item.
31. Sonia, et.al (2014) in the study “To Study the Satisfaction Level of Customers towards the
Brand of Consumer’s Goods - A Study Carried out on Rural Masses”, stated that the Indian
Fast Moving Consumer Goods (FMCG) industry started to shape during the last 50 odd years.
The FMCG sector is a foundation of the Indian economy. This sector touches each part of
human life. Indian FMCG market has been isolated for a long time between the unorganized
sector and the organized sector.
32. Majeed (2014) conducted an investigation on Brand Awareness in Rural Area: A Case Study
of Fast Moving Consumer Goods in Pulwama District of Jammu & Kashmir State. He made
an endeavour to analyze the brand awareness on fast moving consumer goods in rural areas
and to know the interest of the consumers in purchasing the branded products of fast moving
consumer goods. He has studied the effect of media on the brand awareness and preferences.
He has chosen 100 respondents from the selected 10 villages of 4 blocks in the Pulwama
18
District utilizing simple random sampling technique. He discovered that the brand awareness
of consumers towards goods consumed daily has been relentlessly expanding. He has
concluded that the utilization of branded goods is seen as a status elevator in villages.
33. Nasrudeen .R, (2014) in the study “Level of Consumption of Fast Moving Consumer Goods
by Rural Consumers – An Analytical Study”, stated that, ever since independence of India,
because of some undeniable reasons, marketing acquired a largely urban bias. It was the green
revolution in the 70’s which gave a muchneeded boost to agriculture-based rural economy in
the country. Consequently, many firms began showing interest in the rural markets and stretch
out their entrance to arrive at smaller village and towns. Further, presently rural consumers are
behaving like urban consumers towards the urban lifestyle, taste, fashion, preferences, etc.
34. Kumar et.al (2014) stated that the rural consumers are known to earn low income, have low
level of literacy, asymmetric information, low level of brand awareness, inadequate
communication and transportation facilities. The Rural markets and sub-urban markets are
currently extending in Kerala with ever greater penetration index, as the development appears
to be hindered in the urban markets. In this investigation, Rural & suburban areas of Ernakulam
with a sample size of 100 respondents. The investigation intends to recognize the level of
influence of various factors on the purchase of FMCG products-soaps & detergents amongst
the rural/ semi urban consumers. The examination underscored that rural consumers gave more
significance to the ‘quality’ of the FMCG-personal care brands they purchased as opposed to
the standardizing impacts or social appeal vide celebrity endorsements in the mass media.
35. Sulekha, et.al (2013) concluded that in India more than 72 per cent population lives in villages
and FMCG companies are well-known for selling their products to the middleclass households;
it suggests that rural India is a profitable and potential market for FMCG producers. Rural
consumer’s incomes are increasing and now they are more willing to purchase products which
improve their lifestyle. Producers of FMCG have to craft unique marketing strategies entirely
for rural consumers. In this procedure they need to comprehend the rural consumer buying
behavior which may vary geographically. The present investigation focuses on understanding
the rural consumer buying behaviour for FMCG in Haryana. The investigation emphasizes on
the factors which impact the purchasing pattern of rural consumers. The investigation was
conducted in 4 districts of Haryana namely Jind, Panipat, Kuruksetra and Gurgaon.
19
36. Jha (2013) analyzed the consumer preference and brand awareness with reference to FMCG
in rural Bihar. He has selected 120 respondents from 5 villages in Bihar state. He discovered
that the rural consumers have become value conscious and quality is significant in the context
of rural purchase and consumption of FMCG. As indicated by the consequences of his
investigation, attractive packaging made a favourable impression in the minds of rural
consumers which impacted their buying behaviour. He has proposed that innovative
promotional strategies shall be designed by the rural marketers in such a way that the rural
consumers could comprehend easily.
37. Md., et.al (2012) revealed with more than 600 thousand villages and more than 70 per cent of
the population, rural India has become an enormous consumer goods market. FMCG has risen
as a major product category in rural consumption. Companies marketing FMCG to rural
consumers can't only stretch out their general marketing strategies to rural markets. Rather,
they need to devise rural specific strategies. In this procedure, they need to comprehend crucial
issues relating to rural consumer behaviour and more explicitly relating to various geographic
regions of the country. This paper focuses on understanding elements that influence the rural
purchaseof FMCG in South India. Empirical study was conducted in eight districts of South
India to identify the key influencing variables. Factor analysis was utilized to form 24 key
variables into 5 groups (influencing factors). Impact of retailer’s recommendations has
developed as the most significant variable in the trust factor. As indicated by the study, rural
consumers in South India consider that utilization of FMCG contributes to their lifestyle.
38. Yuvarani (2013) analyzed that liberalization of the Indian economy had extensive results,
which prompted the free entry of global brands in Indian markets. Earlier companies focused
their marketing endeavours towards the urban markets targeting the educated consumer.
Anyway with the immersion of markets in the urban sector, numerous companies concentrated
towards the fast growing rural sector. Since the buying behaviour of rural consumers has
become the hotly debated issue for discussion because rural India, in recent days, is excitedly
devouring everything from shampoo to motor cycles and this ―rural predilection is being
considered as one of the noteworthy topics for market analysis. The study emphases mainly on
the rural consumer behaviour towards selected FMCG products, but with the prevailing trend
it is important to concentrate on the essence and emergence of vibrant rural marketing
endeavours of FMCG companies. Thus, with increasingly number of companies entering into
the rural market, with an assortment of products, it is must for companies to examine the rural
consumer behaviour over FMCG products. This examination will highlight the rural consumer
behaviour before purchase, at the time of purchase and post- purchase. The commodities
selected for the research are shampoo, toothpaste, bathing soap, biscuits and mosquito
coil/liquid. The commodities chosen for the research has been done on the basis of products
20
accessible for respective industries: hair care; oral care; skin care; food and beverages; and
mosquito repellents.
39. Ullah, et.al (2012) depicted that Fast Moving Consumer Goods sector is one of the biggest
sectors in the economy of Bangladesh. In the last few years, the FMCG industry in Bangladesh
has encountered a dramatic growth; both qualitative and quantitative improvements have
occurred in the consumer durables segment. FMCG in marketing context means convenience
and lesser involvement products like, pens, salt, flours, chocolates, etc. In last few years, the
FMCG industry globally has encountered a difficult marketcondition. In certainsegments,
formerly popular brands were either been squeezed or deleted between the category leaders
and low-cost competitors. The study has identified 8 primary factors that impact consumers'
purchase decision of FMCG products in Bangladesh. These factors are sales promotion, time
constraint, unavailability of brand, in-store TVC, product features, variety-seeking behaviour,
end of aisle display and product convenience. This study prescribes concentrating on 3
important factors, i.e., time constraints, sales promotion and nonavailability of a brand to
facilitate the progress of FMCG industry in Bangladesh. The FMCG industry will discover
better development opportunities, if the discoveries of this examination are utilized as an input
in its strategic decision making.
40. Renugadevi (2015) stated that the majority of Indian population undoubtedly lives in rural
parts of the country. This huge size, high market potential population is often neglected and
stays unexplored contrasting with its counter urban population. The present rural populace
draws multinational companies to market their products that records positive metamorphosis
demanding numerous issues to be handled in rural marketing. The concept of rural market in
India is still fit as a fiddle and the sector presents variety of challenges. The present paper will
feature the structure of rural marketing environment in order to recognize the challenges that
would be looked by the marketers in rural area. The respondents from various income groups
rank the issue of purchase and their consensus is analyzed in detail.
21
RESEARCH METHODOLOGY
OBJECTIVE OF THE STUDY:

1. To analyse the ratio, thereby to know the companies’ respective positions in the market.
2. To forecast the future performance of the selected companies.
3. To select the best performing company among the selected five companies.
SCOPE:
The scope of work in my research paper work is to analyse demographic profile of facial cream
customers and to Study the factors influencing purchase of facial cream and also Analyse usage of
facial cream brands.
SAMPLE SIZE:
Sample size used is ten companies for analysis.
Data Collection:
This study is based on secondary data. The data has been collected from published annual report of
selected FMCG companies in India.Other information related to selected FMCG companies has
been collected from official website and net sources, journals, books, and other printedMaterials
etc.
SAMPLE TECHNIQUE:
Non convince
LIMITATIONS OF THE STUDY:-

The main limitations of the study are as follows:
• The study is related to FMCG Sector of India only.
22
• The study is based on secondary data derived from annual reports as well as web-sites of selected
FMCG units.
• This study is restricted to 10 years and only seven units as compared to population the sample size
is too small. Hence results of the study cannot be generalized.
• The ratio analysis has its own limitations. The same also applies to the present study.
• The limitations of the various statistical tools like; average, Single Factor ANOVA etc. apply to
the study.
23
Table-1
BALANCE SHEET OF HINDUSTAN UNILEVER
BALANCE SHEET OF MAR 21 MAR 20 MAR 19 MAR 18 MAR 17

HINDUSTAN
UNILEVER (in Rs. Cr.)
12 12 12 12 12
Months Months Months Months Months
EQUITIES AND
LIABILITIES
SHAREHOLDER'S FUNDS
Equity Share Capital 235.00 216.00 216.00 216.00 216.00
TOTAL SHARE CAPITAL 235.00 216.00 216.00 216.00 216.00
Reserves and Surplus 47,199.00 7,815.00 7,443.00 6,859.00 6,274.00
TOTAL RESERVES AND 47,199.00 7,815.00 7,443.00 6,859.00 6,274.00

SURPLUS
TOTAL SHAREHOLDERS 47,434.00 8,031.00 7,659.00 7,075.00 6,490.00

FUNDS
NON-CURRENT
LIABILITIES
Long Term Borrowings 0.00 0.00 0.00 0.00 0.00
Deferred Tax Liabilities [Net] 5,986.00 0.00 0.00 0.00 0.00
Other Long Term Liabilities 2,304.00 1,269.00 804.00 666.00 574.00
Long Term Provisions 1,551.00 1,198.00 1,049.00 772.00 485.00
24
TOTAL NON-CURRENT 9,841.00 2,467.00 1,853.00 1,438.00 1,059.00
LIABILITIES
CURRENT LIABILITIES
Short Term Borrowings 0.00 0.00 0.00 0.00 0.00
Trade Payables 8,627.00 7,399.00 7,070.00 7,013.00 6,006.00
Other Current Liabilities 1,723.00 1,287.00 782.00 972.00 809.00
Short Term Provisions 491.00 418.00 501.00 651.00 387.00
TOTAL CURRENT 10,841.00 9,104.00 8,353.00 8,636.00 7,202.00

LIABILITIES
TOTAL CAPITAL AND 68,116.00 19,602.00 17,865.00 17,149.00 14,751.00

LIABILITIES
ASSETS
NON-CURRENT ASSETS
Tangible Assets 5,786.00 4,625.00 3,907.00 3,776.00 3,654.00
Intangible Assets 45,241.00 431.00 436.00 366.00 370.00
Capital Work-In-Progress 623.00 513.00 373.00 430.00 203.00
Other Assets 0.00 0.00 0.00 0.00 0.00
FIXED ASSETS 51,650.00 5,569.00 4,716.00 4,572.00 4,227.00
Non-Current Investments 312.00 252.00 256.00 256.00 260.00
Deferred Tax Assets [Net] 0.00 261.00 339.00 255.00 160.00
Long Term Loans And 520.00 453.00 396.00 404.00 352.00

Advances
25
Other Non-Current Assets 1,994.00 1,159.00 784.00 523.00 387.00

ASSETS
CURRENT ASSETS
Current Investments 2,683.00 1,248.00 2,693.00 2,855.00 3,519.00
Inventories 3,383.00 2,636.00 2,422.00 2,359.00 2,362.00
Trade Receivables 1,648.00 1,046.00 1,673.00 1,147.00 928.00
Cash And Cash Equivalents 4,321.00 5,017.00 3,688.00 3,373.00 1,671.00
Short Term Loans And 0.00 0.00 0.00 0.00 0.00

Advances
OtherCurrentAssets 1,605.00 1,961.00 898.00 1,405.00 885.00
TOTAL CURRENT 13,640.00 11,908.00 11,374.00 11,139.00 9,365.00

ASSETS
TOTAL ASSETS 68,116.00 19,602.00 17,865.00 17,149.00 14,751.00
OTHER ADDITIONAL
INFORMATION
CONTINGENT
LIABILITIES,
COMMITMENTS
Contingent Liabilities 2,692.00 2,809.00 2,009.00 1,699.00 1,241.00
CIF VALUE OF IMPORTS
Raw Materials 0.00 0.00 0.00 0.00 0.00
Stores, Spares And Loose 0.00 0.00 0.00 0.00 0.00

Tools
26
Trade/Other Goods 0.00 0.00 0.00 0.00 0.00
Capital Goods 0.00 0.00 0.00 0.00 0.00
EXPENDITURE IN
FOREIGN EXCHANGE
Expenditure In Foreign 2,635.00 1,565.00 1,382.00 1,285.00 1,214.00

Currency
REMITTANCES IN
FOREIGN CURRENCIES
FOR DIVIDENDS
Dividend Remittance In -- -- -- -- --
Foreign Currency
EARNINGS IN FOREIGN
EXCHANGE
FOB Value Of Goods -- -- -- -- --
Other Earnings 247.00 283.00 324.00 387.00 541.00
BONUS DETAILS
Bonus Equity Share Capital 131.69 131.69 131.69 131.69 131.69
NON-CURRENT
INVESTMENTS
Non-Current Investments -- -- -- -- --
Quoted Market Value

Unquoted Book Value
CURRENT
INVESTMENTS
27
Current Investments Quoted 2,683.00 1,248.00 2,693.00 2,855.00 3,519.00
Market Value
Current Investments -- -- 2.00 2.00 6.00

Unquoted Book Value
28
Table-2
BALANCE SHEET OF BRITANNIA INDUSTRIES
BALANCE SHEET OF BRITANNIA MAR MAR MAR MAR MAR

INDUSTRIES (in Rs. Cr.) 21 20 19 18 17
12 12 12 12 12
EQUITIES AND LIABILITIES
SHAREHOLDER'S FUNDS
TOTAL RESERVES AND SURPLUS 3,267.34 4,216.19 4,015.42 3,211.27 2,557.98
TOTAL SHAREHOLDERS FUNDS 3,319.53 4,274.65 4,039.45 3,235.28 2,581.98
NON-CURRENT LIABILITIES
Deferred Tax Liabilities [Net] 7.85 10.97 3.87 0.00 0.00
Other Long Term Liabilities 39.32 30.53 27.03 25.69 24.30
Long Term Provisions 0.00 0.00 0.00 0.00 0.00
TOTAL NON-CURRENT LIABILITIES 768.72 763.63 31.16 25.99 24.74
CURRENT LIABILITIES
29
Short Term Borrowings 1,075.70 479.99 0.00 9.01 0.00
Trade Payables 1,191.09 955.98 1,032.54 866.36 643.82
Other Current Liabilities 695.34 596.39 361.30 319.61 271.12
TOTAL CURRENT LIABILITIES 3,327.76 2,215.06 1,582.36 1,366.03 1,089.42
TOTAL CAPITAL AND LIABILITIES 7,416.01 7,253.34 5,652.97 4,627.30 3,696.14
ASSETS
NON-CURRENT ASSETS
Tangible Assets 1,360.02 1,416.02 1,283.85 1,008.31 812.47
Intangible Assets 8.54 8.37 7.62 7.97 11.60
Other Assets 35.28 36.14 36.13 14.99 15.25
FIXED ASSETS 1,515.50 1,499.45 1,392.51 1,231.55 869.09
Non-Current Investments 1,657.16 2,259.11 1,050.97 450.65 514.18
Long Term Loans And Advances 70.73 192.03 15.55 86.74 116.52
Other Non-Current Assets 157.69 97.60 123.67 82.16 185.04
TOTAL NON-CURRENT ASSETS 3,401.08 4,048.19 2,582.70 1,859.78 1,691.26
CURRENT ASSETS
Current Investments 1,292.96 882.06 594.70 735.48 85.73
Inventories 991.28 633.53 718.89 594.58 602.61
30
Trade Receivables 198.36 242.23 350.96 230.32 126.41
Cash And Cash Equivalents 110.80 39.16 40.48 97.25 53.55
Short Term Loans And Advances 946.09 1,075.73 1,121.41 820.41 791.94
OtherCurrentAssets 475.44 332.44 243.83 289.48 344.64
TOTAL CURRENT ASSETS 4,014.93 3,205.15 3,070.27 2,767.52 2,004.88
TOTAL ASSETS 7,416.01 7,253.34 5,652.97 4,627.30 3,696.14
OTHER ADDITIONAL INFORMATION
CONTINGENT LIABILITIES,
COMMITMENTS
Contingent Liabilities 547.05 241.37 245.43 295.08 355.58
Raw Materials 0.00 0.00 0.00 0.00 0.00
Stores, Spares And Loose Tools 0.00 0.00 0.00 0.00 0.00
Capital Goods 0.00 0.00 0.00 0.00 0.00
EXPENDITURE IN FOREIGN
EXCHANGE
Expenditure In Foreign Currency 1,510.19 293.26 194.80 165.31 0.00
REMITTANCES IN FOREIGN
CURRENCIES FOR DIVIDENDS
Dividend Remittance In Foreign Currency -- -- -- -- --
EARNINGS IN FOREIGN EXCHANGE
31
Other Earnings 305.85 281.02 319.10 202.05 --
BONUS DETAILS
NON-CURRENT INVESTMENTS
Non-Current Investments Quoted Market -- -- -- -- --

Value
Non-Current Investments Unquoted Book 1,657.16 2,259.11 1,050.97 450.65 514.18

Value
CURRENT INVESTMENTS
Current Investments Quoted Market Value -- -- -- -- --
Current Investments Unquoted Book Value 1,292.96 882.06 594.70 735.48 85.73
32
Table-3
BALANCE SHEET OF NESTLE INDIA
BALANCE SHEET OF NESTLE DEC 20 DEC 19 DEC 18 DEC 17 DEC 16

INDIA (in Rs. Cr.)
12 12 12 12 12
SHAREHOLDER'S FUNDS
Long Term Provisions 3,268.27 2,906.91 2,464.92 2,291.59 1,972.21
TOTAL NON-CURRENT LIABILITIES 3,387.84 3,063.52 2,559.39 2,449.29 2,159.57
CURRENT LIABILITIES
33
Trade Payables 1,855.90 1,626.58 1,240.37 984.64 799.16
ASSETS
NON-CURRENT ASSETS
Tangible Assets 2,179.41 2,341.45 2,400.62 2,616.18 2,729.46
Other Assets 0.00 0.00 0.00 0.00 0.00
FIXED ASSETS 2,817.99 2,484.75 2,505.82 2,710.34 2,917.63
CURRENT ASSETS
Current Investments 722.94 1,007.45 1,925.13 1,393.59 1,275.04
Inventories 1,416.48 1,283.07 965.55 902.47 943.18
34
Cash And Cash Equivalents 1,769.87 1,308.05 1,610.06 1,457.42 880.00
Short Term Loans And Advances 13.22 12.46 17.89 28.80 57.02
TOTAL ASSETS 7,899.73 7,172.94 8,088.08 7,362.59 6,805.97
COMMITMENTS
Raw Materials 0.00 0.00 0.00 0.00 291.91
Capital Goods 0.00 0.00 0.00 0.00 77.16
EXCHANGE
Expenditure In Foreign Currency 2,791.46 2,942.95 1,717.13 0.00 476.95
Dividend Remittance In Foreign Currency -- -- -- -- 354.01
FOB Value Of Goods 647.39 638.48 708.69 -- 477.32
Other Earnings -- -- -- -- 178.40
35
BONUS DETAILS
Non-Current Investments Quoted Market 805.47 765.58 727.81 589.32 478.76

Value
Non-Current Investments Unquoted Book -- -- -- -- 51.88

Value
CURRENT INVESTMENTS
Current Investments Quoted Market Value 722.94 1,007.39 1,925.13 1,393.46 1,281.13
Current Investments Unquoted Book Value -- -- -- -- --
36
Table-4
BALANCE SHEET OF GODREJ INDUSTRIES
BALANCE SHEET OF GODREJ MAR MAR MAR MAR 18 MAR 17

INDUSTRIES (in Rs. Cr.) 21 20 19
12 12 12 12 12
SHAREHOLDER'S FUNDS
Long Term Borrowings 1,955.58 562.50 625.00 405.49 985.28
TOTAL NON-CURRENT LIABILITIES 2,007.72 581.76 633.73 412.53 990.43
CURRENT LIABILITIES
Short Term Borrowings 2,339.89 2,250.79 2,286.58 1,682.75 1,437.41
37
Trade Payables 600.28 385.43 375.25 352.21 311.97
ASSETS
NON-CURRENT ASSETS
Tangible Assets 1,293.35 1,314.33 1,328.46 1,360.08 1,399.37
Other Assets 474.19 166.38 151.94 132.02 126.20
FIXED ASSETS 1,842.52 1,501.14 1,491.49 1,501.54 1,530.46
Non-Current Investments 2,682.47 2,613.92 2,705.21 2,828.22 2,785.29
CURRENT ASSETS
Current Investments 1,315.73 0.00 0.00 0.00 0.00
Inventories 410.54 253.84 300.86 299.91 296.62
38
TOTAL CURRENT ASSETS 2,170.25 854.74 1,053.85 596.27 508.63
TOTAL ASSETS 6,753.25 5,021.64 5,312.90 4,970.21 4,877.28
OTHER ADDITIONAL
INFORMATION
COMMITMENTS
Raw Materials 0.00 0.00 0.00 0.00 0.00
Capital Goods 0.00 0.00 0.00 0.00 0.00
EXCHANGE
Expenditure In Foreign Currency 483.87 454.13 570.33 510.67 385.76
FOB Value Of Goods -- -- -- 524.95 390.84
39
Other Earnings 430.36 458.08 518.09 -- --
BONUS DETAILS
Non-Current Investments Quoted Market 17.00 8.38 10.85 33,687.03 18,246.55

Value
Non-Current Investments Unquoted Book 28.32 28.84 29.08 433.06 715.77

Value
CURRENT INVESTMENTS
40
Table-5
BALANCE SHEET OF GLAXOSMITHKLINE CONSUMER
HEALTH CARE
BALANCE SHEET OF MAR MAR MAR MAR MAR

GLAXOSMITHKLINE CONSUMER 19 18 17 16 15
HEALTHCARE (in Rs. Cr.)
12 12 12 12 12
SHAREHOLDER'S FUNDS
CURRENT LIABILITIES
41
Trade Payables 952.61 1,034.73 875.66 785.18 759.78
ASSETS
NON-CURRENT ASSETS
Tangible Assets 462.07 475.38 487.04 482.77 487.54
Other Assets 0.00 0.00 0.00 0.00 0.00
FIXED ASSETS 479.80 513.78 545.10 537.36 534.06
TOTAL NON-CURRENT ASSETS 800.67 850.66 815.55 742.76 714.13
CURRENT ASSETS
Current Investments 0.00 0.00 0.00 0.00 0.00
Inventories 465.47 409.42 461.14 461.62 466.25
42
TOTAL ASSETS 6,068.09 5,412.66 4,954.68 4,498.80 4,019.55
COMMITMENTS
Raw Materials 0.00 0.00 0.00 16.12 32.14
Capital Goods 0.00 0.00 0.00 0.65 16.95
EXCHANGE
Dividend Remittance In Foreign Currency -- -- -- 167.60 137.12
FOB Value Of Goods 317.09 301.40 259.13 221.06 227.46
43
Other Earnings -- -- -- 60.53 7.82
BONUS DETAILS

Value
Non-Current Investments Unquoted Book -- -- -- -- --

Value
CURRENT INVESTMENTS
44
Table-6
BALANCE SHEET OF ITC LTD.
BALANCE SHEET OF ITC (in Rs. MAR 21 MAR 20 MAR 19 MAR 18 MAR 17
Cr.)
12 12 12 12 12
SHAREHOLDER'S FUNDS
Equity Share Capital 1,230.88 1,229.22 1,225.86 1,220.43 1,214.74
TOTAL SHARE CAPITAL 1,230.88 1,229.22 1,225.86 1,220.43 1,214.74
Deferred Tax Liabilities [Net] 1,727.73 1,617.65 2,044.14 1,917.94 1,871.70

LIABILITIES
CURRENT LIABILITIES
45
Trade Payables 4,119.53 3,446.74 3,368.28 3,382.28 2,551.22
Other Current Liabilities 5,885.59 5,524.73 6,228.04 5,435.08 4,237.01
TOTAL CAPITAL AND 71,580.54 75,235.36 69,797.92 62,381.31 54,215.95

LIABILITIES
ASSETS
NON-CURRENT ASSETS
Tangible Assets 19,216.75 19,612.74 17,945.65 15,120.00 14,469.32
Intangible Assets 2,581.52 519.45 540.75 445.99 410.92
Capital Work-In-Progress 3,329.97 2,776.31 3,391.47 5,016.85 3,491.33
Other Assets 376.56 385.36 0.00 0.00 0.00
FIXED ASSETS 25,508.30 23,297.75 21,887.76 20,591.57 18,417.26
Other Non-Current Assets 1,304.07 1,971.80 4,263.54 3,785.57 2,769.95
CURRENT ASSETS
Current Investments 14,046.71 17,175.02 12,506.55 9,903.45 10,099.78
Inventories 9,470.87 8,038.07 7,587.24 7,237.15 7,863.99
Trade Receivables 2,090.35 2,092.00 3,646.22 2,357.01 2,207.50
46
OtherCurrentAssets 2,203.22 2,353.68 2,055.20 2,406.36 1,615.48
TOTAL ASSETS 71,580.54 75,235.36 69,797.92 62,381.31 54,215.95
OTHER ADDITIONAL
INFORMATION
COMMITMENTS
Contingent Liabilities 2,339.15 2,357.74 2,491.31 2,257.52 2,148.64
Raw Materials 1,366.00 1,503.00 1,947.00 1,506.00 0.00
Capital Goods 298.00 382.00 426.00 532.00 0.00
EXCHANGE
Dividend Remittance In Foreign -- -- -- -- --

Currency
EARNINGS IN FOREIGN
EXCHANGE
FOB Value Of Goods 5,934.00 3,506.00 3,828.00 3,480.00 --
47
Other Earnings -- -- -- -- --
BONUS DETAILS
Bonus Equity Share Capital 1,113.14 1,113.14 1,113.14 1,113.14 1,113.14
Non-Current Investments Quoted Market 9,984.03 10,592.71 11,218.74 11,096.58 6,344.59

Value
Non-Current Investments Unquoted 3,465.92 3,091.69 2,882.13 2,432.64 2,191.52

Book Value
CURRENT INVESTMENTS
Current Investments Quoted Market 4,302.03 3,122.85 4,624.25 1,792.59 2,380.97

Value
Current Investments Unquoted Book 9,774.63 14,061.11 7,885.76 8,111.65 7,723.02

Value
48
Table-7
BALANCE SHEET OF DABUR
BALANCE SHEET OF DABUR INDIA (in MAR MAR MAR MAR MAR
Rs. Cr.) 21 20 19 18 17
12 12 12 12 12
SHAREHOLDER'S FUNDS
CURRENT LIABILITIES
49
Trade Payables 1,480.70 1,032.45 998.32 960.62 914.52
ASSETS
NON-CURRENT ASSETS
Tangible Assets 1,131.00 1,060.75 971.88 971.34 929.18
Other Assets 47.39 48.38 49.37 50.36 51.35
FIXED ASSETS 1,312.07 1,240.11 1,058.31 1,057.30 1,021.58
CURRENT ASSETS
Current Investments 451.14 1,382.67 725.40 713.39 735.12
Inventories 1,114.16 809.14 732.90 704.79 599.27
50
TOTAL ASSETS 7,504.16 6,100.11 5,578.78 5,812.70 5,217.02
COMMITMENTS
Raw Materials 0.00 0.00 0.00 0.00 0.00
Capital Goods 0.00 0.00 0.00 0.00 0.00
EXCHANGE
FOB Value Of Goods -- -- -- 202.65 158.16
Other Earnings 282.19 244.62 250.65 -- --
51
BONUS DETAILS
Non-Current Investments Quoted Market 3,024.07 985.47 2,138.00 2,595.93 2,595.93

Value

Value
CURRENT INVESTMENTS
Current Investments Quoted Market Value 451.14 1,382.67 700.40 646.64 643.24
Current Investments Unquoted Book Value 25.00 25.00 25.00 66.75 91.88
52
Table-8
BALANCE SHEET OF MARICO
BALANCE SHEET OF MARICO (in Rs. MAR MAR MAR MAR MAR
Cr.) 21 20 19 18 17
12 12 12 12 12
SHAREHOLDER'S FUNDS
CURRENT LIABILITIES
53
Trade Payables 841.00 702.00 715.00 586.65 476.24
TOTAL CURRENT LIABILITIES 1,332.00 1,131.00 1,153.00 951.15 815.94
ASSETS
NON-CURRENT ASSETS
Tangible Assets 632.00 669.00 610.00 465.55 473.91
Other Assets 11.00 11.00 11.00 23.43 23.86
FIXED ASSETS 683.00 756.00 685.00 533.70 527.29
Non-Current Investments 715.00 465.00 1,060.00 1,057.32 1,162.76
CURRENT ASSETS
Inventories 873.00 1,165.00 1,234.00 1,313.18 1,082.96
54
TOTAL ASSETS 4,482.00 4,136.00 4,758.00 4,019.89 3,763.01
COMMITMENTS
Raw Materials 0.00 0.00 0.00 0.00 0.00
Capital Goods 0.00 0.00 0.00 0.00 0.00
EXCHANGE
Other Earnings 461.61 382.97 401.22 324.86 --
55
BONUS DETAILS
Non-Current Investments Quoted Market -- -- -- 2,753.00 2,361.48

Value
Non-Current Investments Unquoted Book 209.00 51.00 -- 1,019.76 1,120.70

Value
CURRENT INVESTMENTS
Current Investments Quoted Market Value -- -- -- 25.24 15.94
56
Table-9
BALANCE SHEET OF EMAMI
BALANCE SHEET OF EMAMI (in Rs. MAR MAR MAR MAR MAR
Cr.) 21 20 19 18 17
12 12 12 12 12
SHAREHOLDER'S FUNDS
CURRENT LIABILITIES
57
Trade Payables 279.19 239.12 224.99 184.34 148.62
TOTAL CURRENT LIABILITIES 497.92 581.25 455.89 556.91 663.85
ASSETS
NON-CURRENT ASSETS
Tangible Assets 703.02 759.03 727.18 720.25 669.82
Intangible Assets 352.95 618.42 870.56 996.01 1,237.66
Other Assets 43.69 44.63 45.60 47.09 44.90
FIXED ASSETS 1,105.98 1,430.13 1,679.68 1,793.37 1,972.32
CURRENT ASSETS
Inventories 269.25 225.89 213.54 183.85 169.20
58
TOTAL CURRENT ASSETS 912.30 785.04 655.06 541.95 324.88
TOTAL ASSETS 2,304.09 2,434.78 2,583.04 2,597.88 2,440.97
COMMITMENTS
Raw Materials 17.92 32.03 27.45 30.18 0.00
Capital Goods 7.67 19.02 6.58 4.10 0.00
EXCHANGE
FOB Value Of Goods 104.03 96.11 99.77 98.45 --
Other Earnings 35.58 45.01 7.61 7.84 --
59
BONUS DETAILS
Non-Current Investments Quoted Market 98.45 39.33 136.67 152.32 94.36

Value

Value
CURRENT INVESTMENTS
60
Table-10
BALANCE SHEET OF COLGATE PALMOLIVE
BALANCE SHEET OF COLGATE MAR MAR MAR MAR MAR

PALMOLIVE (INDIA) (in Rs. Cr.) 21 20 19 18 17
12 12 12 12 12
SHAREHOLDER'S FUNDS
CURRENT LIABILITIES
61
Trade Payables 760.44 612.51 613.18 614.47 597.46
TOTAL CURRENT LIABILITIES 1,617.95 870.30 1,051.10 982.79 982.55
ASSETS
NON-CURRENT ASSETS
Tangible Assets 1,064.72 1,122.86 1,190.85 1,145.91 1,108.11
Other Assets 0.00 0.00 0.00 0.00 0.00
FIXED ASSETS 1,209.57 1,312.89 1,389.55 1,304.49 1,274.70
CURRENT ASSETS
Inventories 335.82 296.92 248.57 226.71 292.55
62
TOTAL CURRENT ASSETS 1,372.58 1,012.03 1,010.16 1,060.72 855.62
TOTAL ASSETS 2,894.01 2,603.97 2,626.48 2,563.86 2,310.65
COMMITMENTS
Raw Materials 0.00 0.00 0.00 0.00 0.00
Capital Goods 0.00 0.00 0.00 0.00 0.00
EXCHANGE
FOB Value Of Goods 180.53 201.78 200.72 187.57 --
Other Earnings -- -- -- -- --
63
BONUS DETAILS

Value

Value
CURRENT INVESTMENTS
64
Formula and financial ratio analysis
Debt-Equity Ratio:
Debt/Equity=Total Liabilities/Total Shareholders equity
KEY TAKEAWAYS
• The debt-to-equity (D/E) ratio compares a company’s total liabilities to its shareholder
equity and can be used to evaluate how much leverage a company is using.
• Higher-leverage ratios tend to indicate a company or stock with higher risk to shareholders.
• However, the D/E ratio is difficult to compare across industry groups where ideal amounts
of debt will vary.
• Investors will often modify the D/E ratio to focus on long-term debt only because the risks
associated with long-term liabilities are different than short-term debt and payables.
Current Ratio:
Current Ratio = Current Assets / Current Liabilities
KEY TAKEAWAYS
• The liquidity ratio expresses a company’s ability to repay short-term creditors out of its total
cash. The liquidity ratio is the result of dividing the total cash by short-term borrowings.
• The current ratio is a financial ratio that measures whether or not a firm has enough
resources to pay its debts over the next 12 months.
• Acceptable current ratios vary from industry to industry and are generally between 1.5 and 3
for healthy businesses.
Asset Turnover Ratio:

Asset Turnover=2Beginning Assets + Ending Assets Total Sales
KEY TAKEAWAYS
• Asset turnover is the ratio of total sales or revenue to average assets.
65
• This metric helps investors understand how effectively companies are using their assets to
generate sales.
• Investors use the asset turnover ratio to compare similar companies in the same sector or
group.
• A company's asset turnover ratio can be impacted by large asset sales as well as significant
asset purchases in a given year.
Net Profit Margin
Net Profit Margin=R−COGS−E−I−T*100/R***8****
KEY TAKEAWAYS
• Net profit margin measures how much net income is generated as a percentage of revenues
received.
• Net profit margin helps investors assess if a company's management is generating enough
profit from its sales and whether operating costs and overhead costs are being contained.
• Net profit margin is one of the most important indicators of a company's overall financial
health.
Return on Capital Employed (ROCE)

Return on Capital Employed =EBIT/Capital Employed
KEY TAKEAWAYS
• Return on capital employed (ROCE) is a financial ratio that measures a company’s
profitability in terms of all of its capital.
• Return on capital employed is similar to return on invested capital (ROIC).
• Many companies may calculate the following key return ratios in their performance
analysis: return on equity (ROE), return on assets (ROA), return on invested capital (ROIC),
and return on capital employed.
66
Dividend Payout Ratio
Dividend Payout Ratio=Net Income/Dividends Paid

KEY TAKEAWAYS
• The dividend payout ratio is the proportion of earnings paid out as

dividends to shareholders, typically expressed as a percentage.
• Some companies pay out all their earnings to shareholders, while some
only pay out a portion of their earnings.
• If a company pays out some of its earnings as dividends, the remaining
portion is retained by the business—to measure the level of earnings
retained, the retention ratio is calculated.
• Several considerations go into interpreting the dividend payout ratio, most
importantly the company's level of maturity.
67
HUL RATIO ANALYSIS
2021 2020 2019 2018 2017
Net Profit Margin (%) 17.29 17.37 15.79 15.16 14.07
Return on Capital Employed (%) 18.90 89.49 92.27 86.53 81.82
Current Ratio (X) 1.26 1.31 1.36 1.29 1.30
Dividend Payout Ratio (NP) (%) 110.77 77.11 75.31 74.39 79.53
Total Debt/Equity (X) 0.00 0.00 0.00 0.00 0.00
Asset Turnover Ratio (%) 67.52 197.86 213.96 201.32 216.18
Graph-1
HUL RATIO ANALYSIS

250
200
150
100
50
0
2021 2020 2019 2018 2017
Net Profit Margin (%) Return on Capital Employed (%)

Current Ratio (X) Dividend Payout Ratio (NP) (%)
Total Debt/Equity (X) Asset Turnover Ratio (%)
HUL:According to our survey the highest profit margin was in march 20 and the lowest profit
margin was in march 17. The profit margin is increased every year except march 21. Return on
68
capital employed was highest in march 19 (92.27%) and the lowest in march 21 (18.90). as usual
return on capital employed was increase every day except march 21. current ration expresses
companies ability to repay it’s short term credit according to the chart current ratio of HUL is
increased and decreased every year. Dividend payout ratio is the proportion of earnings paid out
as dividend to shareholder HUL was giving already good amount of dividend. A high D/E ratio is
often assosciated with high risk, it means that a company has been aggressive in financing its
growth with debt.
69
BRITANNIA RATIO ANALYSIS
2021 2020 2019 2018 2017
Current Ratio (X) 1.21 1.45 1.94 2.03 1.84
Graph-2
BRITANNIA RATIO ANALYSIS
250
200
150
100
50
0
2021 2020 2019 2018 2017

Britannia:According to our survey the highest profit margin was in march 21 and the
lowest profit margin was in march 17. The profit margin is increased every year
except march 21. Return on capital employed was highest in march 21 (60.59%) and
70
the lowest in march 17 (32.36). as usual return on capital employed was increase
every day except march 21. current ration expresses companies ability to repay it’s
short term credit according to the chart current ratio of Britannia is increased and
decreased every year. Dividend payout ratio is the proportion of earnings paid out
as dividend to shareholder Britannia was giving already good amount of dividend.
A high D/E ratio is often assosciated with high risk, it means that a company has
been aggressive in financing its growth with debt.
71
NESTLE INDIA RATIO ANALYSIS
2021 2020 2019 2018 2017
Current Ratio (X) 1.68 1.74 2.55 2.64 2.01
Graph-3
Nestle
180
160
140
120
100
80
60
40
20
0
Net Profit Return on Current Dividend Total Asset
Margin (%) Capital Ratio (X) Payout Debt/Equity Turnover
Employed Ratio (NP) (X) Ratio (%)
(%) (%)
2021 2020 2019 2018 2017
Nestle:According to our survey the highest profit margin was in march 20 and the lowest profit
capital employed was highest in march 20 (56.25%) and the lowest in march 17 (29.13). as usual
72
companies ability to repay it’s short term credit according to the chart current ratio of Nestle is
as dividend to shareholder Nestle was giving already good amount of dividend. A high D/E ratio
is often assosciated with high risk, it means that a company has been aggressive in financing its
growth with debt. As conclude our survey for Nestle March 19 has the successful year for
company.
73
GODREJ CONSUMER PRODUCTS RATIO ANALYSIS
2021 2020 2019 2018 2017
Current Ratio (X) 1.55 1.20 1.12 1.26 1.17
Graph-4
GODREJ CONSUMER PRODUCTS RATIO

ANALYSIS
100
50
0
2021 2020 2019 2018 2017

Godrej:According to our survey the highest profit margin was in march 19 and the lowest profit
capital employed was highest in march 19 (30.69%) and the lowest in march 17 (24.50%). as usual
74
companies ability to repay it’s short term credit according to the chart current ratio of Godrej is
as dividend to shareholder Godrej was giving already good amount of dividend. A high D/E ratio
growth with debt. As conclude our survey for godrej March 19 has the successful year for
company.
75
ITC RATIO ANALYSIS
2021 2020 2019 2018 2017
Current Ratio (X) 3.13 4.02 3.07 2.77 3.59
Graph-5
ITC RATIO ANALYSIS
80
60
40
20
0
2021 2020 2019 2018 2017

Itc :According to our survey the highest profit margin was in march 20 and the lowest profit
76
companies ability to repay it’s short term credit according to the chart current ratio of itc is
as dividend to shareholder itc was giving already good amount of dividend. A high D/E ratio is
growth with debt. for ITC March 2021 was not a successful year because there were too many low
rates found, that conclude March 2021 was not a perfect for ITC
77
DABUR INDIARATIO ANALYSIS
2021 2020 2019 2018 2017
Current Ratio (X) 1.39 2.26 1.40 1.59 1.48
Graph-6
DABUR INDIARATIO ANALYSIS
150
100
50
0
2021 2020 2019 2018 2017

Dabur:According to our survey the highest profit margin was in march 19 and the lowest profit
78
companies ability to repay it’s short term credit according to the chart current ratio of dabur is
as dividend to shareholder dabur was giving already good amount of dividend. A high D/E ratio is
growth with debt.
79
MARICO RATIO ANALYSIS
2021 2020 2019 2018 2017
Current Ratio (X) 2.11 2.34 2.35 2.45 2.44
Graph-7
MARICO RATIO ANALYSIS
150
100
50
0
2021 2020 2019 2018 2017

Marico:According to our survey the highest profit margin was in march 19 and the lowest profit
80
companies ability to repay it’s short term credit according to the chart current ratio of marico is
as dividend to shareholder marico was giving already good amount of dividend. A high D/E ratio
growth with debt.
81
EMAMI RATIO ANALYSIS
2021 2020 2019 2018 2017
Current Ratio (X) 1.83 1.35 1.44 0.97 0.49
Graph-8
EMAMI RATIO ANALYSIS
150
100
50
0
2021 2020 2019 2018 2017

Emami:According to our survey the highest profit margin was in march 21 and the lowest profit
82
companies ability to repay it’s short term credit according to the chart current ratio of emami is
as dividend to shareholder emami was giving already good amount of dividend. A high D/E ratio
growth with debt.
83
COLGATE PALMOLIVE RATIO ANALYSIS
2021 2020 2019 2018 2017
Current Ratio (X) 0.85 1.16 0.96 1.08 0.87
Graph-9
COLGATE PALMOLIVE RATIO ANALYSIS

200
150
100
50
0
2021 2020 2019 2018 2017

Colgate Palmolive:According to our survey the highest profit margin was in march 21 and the
lowest profit margin was in march 17. The profit margin is increased every year except march 21.
84
Return on capital employed was highest in march 21 (106.38%) and the lowest in march 20
(60.73%). as usual return on capital employed was increase every day except march 21. current
ration expresses companies ability to repay it’s short term credit according to the chart current
ratio of Colgate Palmolive is increased and decreased every year. Dividend payout ratio is the
proportion of earnings paid out as dividend to shareholder Colgate Palmolive was giving already
good amount of dividend. A high D/E ratio is often assosciated with high risk, it means that a
company has been aggressive in financing its growth with debt.
85
GLAXOSMITHKLINE RATIO ANALYSIS
2019 2018 2017 2016 2015
Current Ratio (X) 2.90 2.62 2.59 2.07 1.96
Graph-10
GLAXOSMITHKLINE RATIO ANALYSIS
120
100
80
60
40
20
0
2019 2018 2017 2016 2015

GLAXOSMITHKLINE :According to our survey the highest profit margin was in march 21 and
the lowest profit margin was in march 17. The profit margin is increased every year except march
21. Return on capital employed was highest in march 21 (35.56%) and the lowest in march 20
(19.07%). as usual return on capital employed was increase every day except march 21. current
86
ration expresses companies ability to repay it’s short term credit according to the chart current
ratio of GLAXOSMITHKLINE is increased and decreased every year. Dividend payout ratio is
the proportion of earnings paid out as dividend to shareholder GLAXOSMITHKLINE was giving
already good amount of dividend. A high D/E ratio is often assosciated with high risk, it means
that a company has been aggressive in financing its growth with debt.
87
FINDINGS
HUL- it shows that profit margin of hul is stable since last 2 years it may be the impact of covid
19 but company is expecting to grow in next upcoming years their return has been decreased almost
5 times than it was and asset turnover ratio is also decreasing the possible reason behind it more
capital employed than EBIT apart from that company is going doing good as their dividend ratio
is increasing share holders will have trust.
Britannia- It shows that net profit margin of the company is constantly increasing. The study
found that return on capital employed (%) has fluctuating values. It also found that it had debt
equity below 1% that means company primarily relies on wholly-owned funds to leverage its
finances.
Nestle- It shows that net profit margin of the company is increase every year except march 21. The
study found that return on capital employed (%) has fluctuating values.we can see that Debt equity
below 1% that means company primarily relies on wholly owned funds to leverage it's finances.
We also found that Asset turnover ratio is continuosly increasing but in March 21 it goes down.
Godrej- It shows that net profit margin and the return on capital employed of the company is
increase every year except march 21. The study found that Debt equity is very less (below 1%)
that means company primarily relies on wholly owned funds to leverage it's finances. We also
found that Asset turnover ratio has fluctuating value means it change every year.
ITC- It shows that net profit margin of the company is increase every year except march 21. Return
on capital employed was highest in march 18 after that it goes down year by year. A debt of The
company is 0.00 it means that company has been aggressive in financing it's growth with debt.We
also found that Asset turnover ratio has fluctuating value means it change every year.
Dabur- It shows that net profit margin of the company is increase every year except march 21.
The study found that return on capital employed (%) has fluctuating values.we can see that Debt
88
equity below 1% that means company primarily relies on wholly owned funds to leverage it's
finances. We also found that Asset turnover ratio has also fluctuating values it change every year.
Marico- It shows that net profit margin and the return on capital employed of the company is
increase every year except march 21. The study found that Debt equity is not fluctuate form the
last 4 year but in March 21 it goes up means increase but below 1%) that means company primarily
relies on wholly owned funds to leverage it's finances. We also found that Asset turnover ratio has
fluctuating value means it change every year.
Emami- It shows that net profit margin of the company is increase every year except march 21.
The study found that return on capital employed (%) has fluctuating values.we can see that Debt
equity below 1% that means company primarily relies on wholly owned funds to leverage it's
finances. We also found that Asset turnover ratio has also fluctuating values it change every year.
Colgate- It shows that net profit margin of the company is increase every year except march 21.
The study found that return on capital employed (%) has fluctuating values.we can see that the
movement of Debt equity of the company is in year 2019 after that it's goes to nil.We also found
that Asset turnover ratio has also fluctuating values it change every year.
GlaxoSmithKline- It shows that net profit margin of the company is increase every year except
march 21. The study found that return on capital employed (%) has fluctuating values. we can see
that Debt equity of the company has no movement means it value is 0.00 from last 5 years that
means company primarily relies on wholly owned funds to leverage it's finances. We also found
that Asset turnover ratio has also fluctuating values it change every year.
89
CONCLUSION
FMCG sector is the most emerging sector in India because in India domestic market demand is
very high compared to other developers and developing countries. FMCG sector in India is having
a positive growth in the coming few years because changing rules, regulation and guidelines
of the FSSAI (Food Safety and Standards Authority of India ) has given the sector boost in order
to trade more effectively. The products like Consumer Food Services, Soft drinks, Toiletries,
Personal care, and Household products are now more demanded as it is also available online
and reach ability to such products is easy and it is also beneficial in the reduction of cost and time.
Increasing demand from the rural areas is another major factor for the growing FMCG sector in
India that is becausenearly about 66% of the total Indian population accounts for the rural area
segment so it is having a wider scope for its growth. Therefore FMCG’s Equity analysis guides
the investor in making buy or sell decisions as it gives a clear idea about returns from the shares
in which the investor is willing to invest. So in this study, we have safely concluded that Marico
Ltd. A company is very well preferred in selected FMCG’s companies for this study. Marico
Ltd. return is overall high and the risk involved is also moderate in comparison to the other
companies. So investors can choose Marico Ltd. to get more returns from his investment.
90
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94

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DISSERTATION

Under the Guideline of:

Ansh Agarwal (201900510010006)

This is to certify that this Dissertation Report Titled “A STUDY ON FINANCIAL

Faculty Guide Faculty of Management

Dissertation has provided us with an opportunity to gain information of “A STUDY ON

Date: Rahul Shah

Date: Ansh Agarwal

SR. NO TITLE PAGE NO.

1. CHAPTER 1- INTRODUCTION OD INDUSTRY 7-8

2. CHAPTER 2 - LITERATURE REVIEWS 9-21

3. CHAPTER 3 – RESEARCH PROPOSAL 22-23

4. CHAPTER 4 - BALANCE SHEET OF THE COMPANIES 24-64

5. CHAPTER 5 - Formula and financial ratio analysis 65-87

6. CHAPTER 6 - FINDING 88-89

8. CHAPTER 8- BIBLIOGRAPHY 91-94

4. Sathish A S, P. VenkataSubbaish (2017), conducted a study on rural marketing strategies

10. FirsieIdelroseKalangi& Peggy Adeline Mekel (2014) conducted a study on aesthetics

13. Anjana S (2018), A study on factors influencing cosmetic buying behavior of

17. B. Indirapriyadarshini, (2016) This research states the Consumer Satisfaction on

OBJECTIVE OF THE STUDY:

LIMITATIONS OF THE STUDY:-

BALANCE SHEET OF MAR 21 MAR 20 MAR 19 MAR 18 MAR 17

Equity Share Capital 235.00 216.00 216.00 216.00 216.00

TOTAL SHARE CAPITAL 235.00 216.00 216.00 216.00 216.00

Reserves and Surplus 47,199.00 7,815.00 7,443.00 6,859.00 6,274.00

TOTAL RESERVES AND 47,199.00 7,815.00 7,443.00 6,859.00 6,274.00

TOTAL SHAREHOLDERS 47,434.00 8,031.00 7,659.00 7,075.00 6,490.00

Long Term Borrowings 0.00 0.00 0.00 0.00 0.00

Deferred Tax Liabilities [Net] 5,986.00 0.00 0.00 0.00 0.00

Other Long Term Liabilities 2,304.00 1,269.00 804.00 666.00 574.00

Long Term Provisions 1,551.00 1,198.00 1,049.00 772.00 485.00

Short Term Borrowings 0.00 0.00 0.00 0.00 0.00

Trade Payables 8,627.00 7,399.00 7,070.00 7,013.00 6,006.00

Other Current Liabilities 1,723.00 1,287.00 782.00 972.00 809.00

Short Term Provisions 491.00 418.00 501.00 651.00 387.00

TOTAL CURRENT 10,841.00 9,104.00 8,353.00 8,636.00 7,202.00

TOTAL CAPITAL AND 68,116.00 19,602.00 17,865.00 17,149.00 14,751.00

Tangible Assets 5,786.00 4,625.00 3,907.00 3,776.00 3,654.00

Intangible Assets 45,241.00 431.00 436.00 366.00 370.00

Capital Work-In-Progress 623.00 513.00 373.00 430.00 203.00

Other Assets 0.00 0.00 0.00 0.00 0.00

FIXED ASSETS 51,650.00 5,569.00 4,716.00 4,572.00 4,227.00

Non-Current Investments 312.00 252.00 256.00 256.00 260.00

Deferred Tax Assets [Net] 0.00 261.00 339.00 255.00 160.00

Long Term Loans And 520.00 453.00 396.00 404.00 352.00

TOTAL NON-CURRENT 54,476.00 7,694.00 6,491.00 6,010.00 5,386.00

Current Investments 2,683.00 1,248.00 2,693.00 2,855.00 3,519.00

Inventories 3,383.00 2,636.00 2,422.00 2,359.00 2,362.00

Trade Receivables 1,648.00 1,046.00 1,673.00 1,147.00 928.00

Cash And Cash Equivalents 4,321.00 5,017.00 3,688.00 3,373.00 1,671.00

Short Term Loans And 0.00 0.00 0.00 0.00 0.00

OtherCurrentAssets 1,605.00 1,961.00 898.00 1,405.00 885.00

TOTAL CURRENT 13,640.00 11,908.00 11,374.00 11,139.00 9,365.00

TOTAL ASSETS 68,116.00 19,602.00 17,865.00 17,149.00 14,751.00

Contingent Liabilities 2,692.00 2,809.00 2,009.00 1,699.00 1,241.00

CIF VALUE OF IMPORTS

Raw Materials 0.00 0.00 0.00 0.00 0.00

Stores, Spares And Loose 0.00 0.00 0.00 0.00 0.00

Capital Goods 0.00 0.00 0.00 0.00 0.00

Expenditure In Foreign 2,635.00 1,565.00 1,382.00 1,285.00 1,214.00

FOB Value Of Goods -- -- -- -- --

Other Earnings 247.00 283.00 324.00 387.00 541.00