BALANCE SHEET

Column1 Column
Particulars Notes

Assets
Non-current assets
a) Property, plant and equipment 2
b) Right of use assets 3
c) Capital work-in-pro ress 4
d) Intangible assets Financial assets 5
e) Financial. Assets
i) Investments 6
ii) Other finacial assets 7
f) Deferred tax assets (net) 8
g) Non-current tax assests (nets) 9
h) Other non-current assets 10
Total non-current assets
Current assets
a) Invetories 11
b) Financial assets
i) Investments 6
ii) Trade receivaibles 12
iii) Vash and cash equivalents 13
iv) Bank balnces other than cash and cash equivalents 14
v) Loans 15
vi) Other financial assets 7
c) Other current assets 10
Total current assets
Total assets 16
Equity and liabilities 17
Equity 6
a) Equity share capital 12
b) Other equity 13
Total equity 14
Liabilities 15
Non-current liabilities 7
a) Financial liabilities 10
i)Borrowing;
ii)Lease liabilities
b)Deferred tax liabilities [netl
c)Provisions
Total non-current liabilities 16
Current liabilities 17
a)Financial liabilities
b)Borrowing;
i)Lease liabilities
ii)Trade payables
 - total outstanding dues of micro enterprises and small
enterprises; and 18
- total outstanding dues of creditors other than micro enterprises
and small enterprises 19
iii)Other financial liabilities 8
iv)Other current liabilities 20
c)Provisions
d)Current tax.liabilities (net)
Total current liabilities 21
Total equitv and liabilities 19

P AND L

Particulars Notes

I Income
Revenue from operations 26
Other income 27
Total income

II Expenses
Cost of materials consumed 28
Purchases of stock-in-trade 29
Changes in inventories of finished goods, work-in-progress and stock-in-t 30
Employee benefits expense 31
Other expenses 32

Expenses before depreciation and amortisation expense, finance costs

and foreign exchange fluctuation

Profit before depreciation and amortisation expense, finance costs and

foreign exchange fluctuation

Depreciation and amortisation expense 33

Finance costs 34
Foreign exchange fluctuation loss/(gain)
Total expenses
III
IV Profit/ (loss) before tax [I-II]
Tax
Current tax expense
Deferred tax expense/(credit)
Total tax credit
V
 Profit/ (loss) for the year [Ill-IV]
VI
Other comprehensive income (OCI)
Items that will not be reclassified to income
Re-measurement of defined benefit liability
Less: Income tax relating to remeasurement of defined benefit liability
Other comprehensive income for the year
VII
VIIITotal comprehensive income for the year
Earnings per equity share [nominal value of equity share ZIOI
Basic and diluted 35

Notes 16 - Equity Shares

Authorised
275,000,000 equity shares if Rs. 10 each

Issues, subscribed and fully paid up

261,113,151 equity shares if Rs. 10 each fully paid up
Column4 Column5
As at As at
31-Mar-23 31-Mar-22

760.89 673.23
21.86 28.42
324.41 35.07
0.32 0.56

- -
3.91 4.45
258.61 258.61
7.64 4.01
39.73 62.42
1,417.37 1,066.77

643.66 543.07

0.05
162.14 182.98
56.04 5.76
5.44 6.51
1.06 1.01
293.26 211.31
133.98 88
1,295.58 1,038.69
2 712.95 2 105.46

261.11 261.11
311.56 339.1
572.66 600.21

560.34 172.95
22.08 26.16
0.16
42.04 36.9
624.46 236.17

305.54 148.64
2.17 5.75
 16.16 5.72

1,091.59 1,018.41
38.75 26.6
15.88 20.65
45.74 43.29
0.02
1,515.83 1,269.08
2,712.95 2,105.46

For the year ended For the year ended

31-Mar-23 31-Mar-22

4,084.91 4,038.08
24.42 6.33
4,109.33 4,044.41

3,025.38 2,861.01
304.21 150.36
-105.14 -43.62
114.35 107.72
700.6 658.68

4,039.40 3,734.15

69.93 310.26

31.34 31.26
59.58 61.89
3.73 -2.33
4,134.05 3,824.97

-24.72 219.44

- 0.36
-0.16 -49.98
-0.16 -49.62
 -24.56 269.06

-2.99 -2.1

-2.99 -2.1

-27.55 266.96

-0.94 10.3

As at 31st March 2022 As at 31st March 2023

275 275
275 275

261.11 261.11
261.11 261.11
 Rs in Crore

1 Revenue
2 Cost of material consumed
3 = 1-2 Gross Profit
4 Operating expenses
5 = 3-4 Operating Profit
6 Other Income
7 Depreciation
8 Finance Cost
9 PBT
10 Tax
11 PAT
12 No. of Shares (Nos)
13 EPS
14 Cash and Cash Equivalents
15 Debt
16 Equity
17 Retained Earnings
18 Capex
Share Price as on 31-Mar
P/E

Calculations
Gross Margin
Depreciation Margin
Interest Margin
Net Income Margin
EPS Growth
Cash & Deb
Debt-to-Equity

Retained Earnings
 Y1 Y2
2022 2023
Actuals Actuals
4,084.91 4,038.08
3,025.38 2,861.01
1,059.53 1,177.07
4,039.40 3,734.15
2,979.87 2,557.08
24.42 6.33
31.34 31.26
59.58 61.89
- 24.72 219.44
-0.16 -49.62
-24.56 269.06
261113151 261113151
-0.94 10.30
56.04 5.76
560.34 172.95
261.11 261.11
-183.53 -202.80

2023 Comments
Gross profit/Revenue > 30% 29.15%
Depreciation/Gross Margin < 25% 2.66%
Interest/Operating Income < 30% 2.42%
Net profit/Revenue > 20% -1.23% NO
EPS Current Year/ EPS Previous Year Positive & Growing YES YES
Cash > Debt Cash > Debt NO NO
Total Debt/ Equity Below 0.8x 0.66 YES
Consistent Growth
Retained Earnings Current Year/ Retained
Earnings Previous Year NO
 Actuals
2021 2022

Assumptions
Revenue Growth Rate #DIV/0!
Gross Profit Margin #DIV/0!
Operating Expenses as % of Revenue #DIV/0!
Tax Rate #DIV/0!
Interest Income as a % of Cash #DIV/0!
Rate of Interest on Debt #DIV/0!
Depreciation - based on growth in capex -30
Normal Capital Expenditures based on growth in Revenue (35.0)
Growth in Other WC Assets
Growth in Accrued Expenses and Other
Repayments
Share Capital Issued
Common Dividends
WC Credit Line 12.0

Balance Sheet Tallied

Cash Flow Tallied
Actuals Projections Projections
2023 2024 2025

#DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
(32.0) #DIV/0! #DIV/0!
(38.0) #DIV/0! #DIV/0!
6% 6.5%
8% 10.0%
25 29
5 10
-85 -95
10.0 15 15