Historical Finacial Statement of DLF LTD

Years Mar-14 Mar-15 Mar-16 Mar-17 Mar-18

# Income Statement
Sales ₹8,298.04 ₹7,648.73 ₹9,925.61 ₹8,221.23 ₹6,706.79
Sales Growth - -7.82% 29.77% -17.17% -18.42%

COGS ₹5,122.36 ₹4,114.28 ₹5,356.98 ₹4,211.61 ₹3,857.78

COGS as % Sales 61.73% 53.79% 53.97% 51.23% 57.52%

Gross Profit ₹3,175.68 ₹3,534.45 ₹4,568.63 ₹4,009.62 ₹2,849.01

Selling and Administration Expenses ₹682.45 ₹520.78 ₹602.55 ₹563.25 ₹470.87

S&G as %Sales 8.22% 6.81% 6.07% 6.85% 7.02%

EBITDA ₹2,493.23 ₹3,013.67 ₹3,966.08 ₹3,446.37 ₹2,378.14

EBITDA Margins 30.05% 39.40% 39.96% 41.92% 35.46%

Interest ₹2,463.25 ₹2,303.86 ₹2,679.80 ₹2,979.82 ₹2,950.71

Interest as %Sales 29.68% 30.12% 27.00% 36.25% 44.00%

Depreciation ₹662.93 ₹544.79 ₹765.89 ₹572.49 ₹533.53

Depreciation as %Sales 20.88% 15.41% 16.76% 14.28% 18.73%

Other Income ₹1,133.17 ₹503.46 ₹505.87 ₹1,135.47 ₹9,721.56

Earnings Before Tax ₹500.22 ₹668.48 ₹1,026.26 ₹1,029.53 ₹8,615.46

EBT as %Sales 6.03% 8.74% 10.34% 12.52% 128.46%

Tax ₹82.38 ₹158.12 ₹564.24 ₹229.26 ₹4,323.05

Effective Tax Rate 16.47% 23.65% 54.98% 22.27% 50.18%

Net Profit ₹417.84 ₹510.36 ₹462.02 ₹800.27 ₹4,292.41

Net Margins 5.04% 6.67% 4.65% 9.73% 64.00%

No of Equity Shares 178.15 178.19 178.37 178.4 178.41

Earning Per Share ₹2.35 ₹2.86 ₹2.59 ₹4.49 ₹24.06

EPS Growth 9.00% 22.12% -9.56% 73.18% 436.34%

Divident Amount ₹356.29 ₹356.39 ₹356.74 ₹356.80 ₹356.81

Dividend Per Share ₹2.00 ₹2.00 ₹2.00 ₹2.00 ₹2.00
Dividend Payout Ratio 85.27% 69.83% 77.21% 44.58% 8.31%
 Retained Earnings ₹61.55 ₹153.97 ₹105.28 ₹443.47 ₹3,935.60

# Balance Sheet
Equity Share Capital ₹356.29 ₹356.39 ₹356.74 ₹356.80 ₹356.81
Reserves ₹27,038.60 ₹27,012.51 ₹23,712.34 ₹24,216.03 ₹34,203.53
Borrowings ₹22,334.07 ₹24,494.94 ₹25,263.77 ₹29,202.23 ₹17,490.80
Other Liabilities ₹14,795.97 ₹14,398.49 ₹12,396.48 ₹10,179.22 ₹8,533.39
Total Liabilities ₹64,524.93 ₹66,262.33 ₹61,729.33 ₹63,954.28 ₹60,584.53

Net Block ₹18,834.63 ₹19,618.76 ₹3,943.18 ₹24,640.21 ₹8,082.28

Capital Work in Progress ₹5,978.69 ₹5,900.90 ₹1,779.06 ₹152.76 ₹137.33
Investments ₹891.23 ₹623.41 ₹21,309.72 ₹1,209.27 ₹20,831.55
Other Assets ₹16,305.92 ₹18,174.74 ₹11,064.88 ₹12,336.95 ₹8,216.73
Total Non Current Assets ₹42,010.47 ₹44,317.81 ₹38,096.84 ₹38,339.19 ₹37,267.89

Receivables ₹1,561.23 ₹1,586.40 ₹3,416.93 ₹1,417.36 ₹1,285.79

Inventory ₹18,511.20 ₹17,610.47 ₹16,834.24 ₹20,098.80 ₹19,752.92
Cash & Bank ₹2,442.03 ₹2,747.65 ₹3,381.32 ₹4,098.93 ₹2,277.93
Total Current Assets ₹22,514.46 ₹21,944.52 ₹23,632.49 ₹25,615.09 ₹23,316.64

Total Assets ₹64,524.93 ₹66,262.33 ₹61,729.33 ₹63,954.28 ₹60,584.53

Check 1 TRUE TRUE TRUE TRUE

# Cash Flow Statement

Operating Activities
Profit from operations ₹2,901.00 ₹3,281.00 ₹3,863.00 ₹3,957.00 ₹2,478.00
Receivables (1,822.00) (1,407.00) (496.00) (213.00) (745.00)
Inventory (324.00) ₹1,291.00 ₹806.00 (2,967.00) (381.00)
Payables ₹1,129.00 (542.00) (53.00) ₹278.00 ₹23.00
Loans Advances ₹0.00 ₹0.00 ₹0.00 ₹479.00 ₹41.00
Operating investments ₹0.00 ₹0.00 ₹0.00 ₹0.00 ₹0.00
Other WC items ₹0.00 ₹0.00 (516.00) (2,104.00) (722.00)
Working capital changes (1,017.00) (658.00) (258.00) (4,527.00) (1,784.00)
Direct taxes (416.00) (640.00) (648.00) (328.00) (424.00)
Exceptional CF items ₹0.00 ₹54.00 ₹0.00 ₹0.00 ₹0.00
Cash Flow From Operating Activities ₹451.00 ₹1,379.00 ₹2,698.00 (5,425.00) (1,514.00)

Investing Activities
Fixed assets purchased (949.00) (869.00) (645.00) (215.00) (3,409.00)
Fixed assets sold ₹1,259.00 ₹31.00 ₹60.00 ₹11.00 ₹2,684.00
Investments purchased (524.00) (144.00) ₹0.00 ₹0.00 (949.00)
Investments sold ₹2,217.00 ₹432.00 ₹22.00 ₹826.00 ₹14.00
Interest received ₹247.00 ₹407.00 ₹155.00 ₹196.00 ₹329.00
Dividends received ₹0.00 ₹0.00 ₹2.00 ₹0.00 ₹19.00
Invest in subsidiaries ₹0.00 ₹0.00 ₹0.00 ₹0.00 ₹0.00
Issue of shares on acq ₹0.00 ₹0.00 ₹0.00 ₹0.00 ₹0.00
Redemp n Canc of Shares ₹0.00 ₹0.00 ₹0.00 ₹0.00 ₹0.00
Other investing items ₹1,675.00 ₹242.00 (411.00) ₹52.00 (790.00)
Cash Flow From Investing Activities ₹3,925.00 ₹99.00 (817.00) ₹870.00 (2,102.00)

Financing Activities
Proceeds from shares ₹1,515.00 ₹0.00 ₹0.00 ₹0.00 ₹0.00
Proceeds from debentures ₹0.00 ₹918.00 ₹1,375.00 ₹0.00 ₹8,250.00
Redemption of debentures (670.00) ₹0.00 (562.00) (62.00) (402.00)
Proceeds from borrowings ₹6,152.00 ₹6,792.00 ₹10,756.00 ₹15,246.00 ₹13,051.00
Repayment of borrowings (7,698.00) (5,425.00) (9,503.00) (11,245.00) (17,060.00)
Interest paid fin (3,225.00) (3,177.00) (3,209.00) (3,147.00) (2,036.00)
Dividends paid (518.00) (550.00) (786.00) (4.00) (816.00)
Financial liabilities ₹0.00 ₹0.00 ₹0.00 ₹0.00 ₹0.00
Other financing items (88.00) (107.00) ₹0.00 ₹0.00 (1,219.00)
Cash Flow From Financing Activities (4,532.00) (1,549.00) (1,929.00) ₹788.00 (232.00)

Net Cash Flow (156.00) (71.00) (48.00) (3,767.00) (3,848.00)

ment of DLF LTD
Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 LTM

₹8,366.09 ₹6,082.77 ₹5,414.06 ₹5,717.39 ₹5,694.83 5721.77

24.74% -27.29% -10.99% 5.60% -0.39% 0.47%

₹5,780.99 ₹4,496.67 ₹3,569.70 ₹3,532.41 ₹3,460.46 ₹3,987.70

69.10% 73.92% 65.93% 61.78% 60.76% 69.69%

₹2,585.10 ₹1,586.10 ₹1,844.36 ₹2,184.98 ₹2,234.37 ₹1,734.07

₹436.90 ₹440.39 ₹375.10 ₹441.74 ₹508.49 -

5.22% 7.24% 6.93% 7.73% 8.93% -

₹2,148.20 ₹1,145.71 ₹1,469.26 ₹1,743.24 ₹1,725.88

25.68% 18.84% 27.14% 30.49% 30.31%

₹2,061.87 ₹1,426.94 ₹853.36 ₹624.55 ₹392.14 355

24.65% 23.46% 15.76% 10.92% 6.89% 6.20%

₹224.63 ₹200.30 ₹159.48 ₹149.44 ₹148.63 ₹147.95

8.69% 12.63% 8.65% 6.84% 6.65% 8.53%

₹783.95 ₹1,135.00 ₹383.15 ₹195.34 ₹317.31 ₹411.72

₹645.65 ₹653.47 ₹839.57 ₹1,164.59 ₹1,502.42 (91.23)

7.72% 10.74% 15.51% 20.37% 26.38% -1.59%

₹277.38 ₹2,132.67 ₹362.28 ₹320.98 ₹401.50 ₹436.55

42.96% 326.36% 43.15% 27.56% 26.72% -

₹368.27 (1,479.20) ₹477.29 ₹843.61 ₹1,100.92 -

4.40% -24.32% 8.82% 14.76% 19.33% -

220.72 247.53 247.53 247.53 247.53 -

₹1.67 (5.98) ₹1.93 ₹3.41 ₹4.45 -

-93.07% -458.16% -132.27% 76.75% 30.50% -

₹441.44 ₹495.06 ₹495.06 ₹742.59 ₹990.12 -

₹2.00 ₹2.00 ₹2.00 ₹3.00 ₹4.00 -
119.87% -33.47% 103.72% 88.03% 89.94% -
 (73.17) (1,974.26) (17.77) ₹101.02 ₹110.80 -

₹441.44 ₹495.06 ₹495.06 ₹495.06 ₹495.06

₹32,385.00 ₹33,951.68 ₹34,848.87 ₹35,867.22 ₹37,192.47
₹17,222.46 ₹8,102.51 ₹6,785.41 ₹4,181.84 ₹3,333.99
₹16,433.82 ₹13,341.20 ₹11,358.31 ₹10,622.74 ₹11,550.71
₹66,482.72 ₹55,890.45 ₹53,487.65 ₹51,166.86 ₹52,572.23

₹6,321.67 ₹5,186.87 ₹4,856.26 ₹4,862.39 ₹4,785.38

₹102.92 ₹88.70 ₹94.94 ₹81.05 ₹61.12
₹21,004.67 ₹18,565.82 ₹19,745.52 ₹19,779.49 ₹19,481.13
₹11,357.26 ₹6,422.00 ₹5,716.13 ₹4,841.72 ₹6,059.42
₹38,786.52 ₹30,263.39 ₹30,412.85 ₹29,564.65 ₹30,387.05

₹832.28 ₹720.39 ₹581.29 ₹563.60 ₹549.23

₹22,008.55 ₹22,486.24 ₹21,086.64 ₹20,106.99 ₹19,361.23
₹4,855.37 ₹2,420.43 ₹1,406.87 ₹931.62 ₹2,274.72
₹27,696.20 ₹25,627.06 ₹23,074.80 ₹21,602.21 ₹22,185.18

₹66,482.72 ₹55,890.45 ₹53,487.65 ₹51,166.86 ₹52,572.23

TRUE TRUE TRUE TRUE TRUE

₹2,302.00 ₹1,462.00 ₹1,761.00 ₹1,858.00 ₹1,898.00

₹0.00 (82.00) ₹31.00 ₹24.00 ₹61.00
₹2,845.00 ₹2,523.00 ₹1,480.00 ₹987.00 ₹792.00
(2.00) (141.00) ₹219.00 ₹320.00 ₹125.00
₹45.00 (678.00) ₹52.00 ₹0.00 ₹0.00
₹219.00 (328.00) ₹0.00 ₹0.00 ₹0.00
(3,131.00) (2,360.00) (2,484.00) (577.00) (415.00)
(24.00) (1,064.00) (702.00) ₹754.00 ₹563.00
(234.00) (42.00) ₹401.00 ₹220.00 (86.00)
₹0.00 ₹0.00 ₹0.00 ₹0.00 ₹0.00
₹2,020.00 (710.00) ₹758.00 ₹3,586.00 ₹2,938.00

(604.00) (206.00) (14.00) (148.00) (64.00)

₹35.00 ₹68.00 ₹83.00 ₹1.00 ₹9.00
(474.00) (11,278.00) (2,683.00) (1,447.00) (1,240.00)
₹955.00 ₹10,321.00 ₹2,151.00 ₹1,620.00 ₹1,386.00
₹110.00 ₹124.00 ₹138.00 ₹112.00 ₹45.00
₹36.00 ₹1,973.00 ₹197.00 ₹336.00 ₹954.00
 ₹0.00 ₹0.00 ₹0.00 (149.00) (20.00)
₹0.00 ₹0.00 ₹0.00 ₹0.00 ₹0.00
₹251.00 ₹6,051.00 ₹3.00 ₹385.00 ₹11.00
(307.00) (544.00) ₹275.00 (441.00) (1,543.00)
₹2.00 ₹6,509.00 ₹150.00 ₹269.00 (462.00)

₹3,094.00 ₹0.00 ₹0.00 ₹0.00 ₹0.00

₹0.00 ₹988.00 ₹509.00 ₹0.00 ₹0.00
(408.00) (345.00) (845.00) (500.00) (500.00)
₹4,675.00 ₹8,479.00 ₹6,506.00 ₹693.00 ₹267.00
(4,637.00) (17,669.00) (7,407.00) (2,871.00) (640.00)
(1,677.00) (2,382.00) (720.00) (633.00) (370.00)
(170.00) (808.00) (199.00) (497.00) (743.00)
₹0.00 (31.00) (28.00) (22.00) (27.00)
(3.00) ₹2,246.00 ₹1.00 ₹2.00 ₹0.00
₹874.00 (9,522.00) (2,183.00) (3,828.00) (2,013.00)

₹2,896.00 (3,723.00) (1,275.00) ₹27.00 ₹463.00

 Ratio Analysis of DLF LTD
Years Mar-14 Mar-15 Mar-16 Mar-17 Mar-18
Sales Growth - -7.82% 29.77% -17.17% -18.42%
EBITDA Growth - 20.87% 31.60% -13.10% -31.00%
EBIT Growth - 34.89% 29.62% -10.20% -35.81%
Net Profit Growth - 22.14% -9.47% 73.21% 436.37%
Dividend Growth - 0.01% 0.00% 0.00% 0.00%

Gross Margin 38.27% 46.21% 46.03% 48.77% 42.48%

EBITDA Margin 30.05% 39.40% 39.96% 41.92% 35.46%
EBIT Margin 22.06% 32.28% 32.24% 34.96% 27.50%
EBT Margin 6.03% 8.74% 10.34% 12.52% 128.46%
Net Profit Margin 5.04% 6.67% 4.65% 9.73% 64.00%

Sales Expenses %Sales 8.22% 6.81% 6.07% 6.85% 7.02%

Depreciation %Sales 7.99% 7.12% 7.72% 6.96% 7.96%
Operating Income %Sales 22.06% 32.28% 32.24% 34.96% 27.50%

Return on Capital Employed 3.68% 4.76% 6.49% 5.34% 3.54%

Return on Equity 1.53% 1.86% 1.92% 3.26% 12.42%
Self Sustained Growth Rate 0.06% 0.09% 0.12% 0.17% 0.44%
Interest Coverage Ratio 0.74x 1.07x 1.19x 0.96x 0.63x

Debtor Turnover Ratio 5.32x 4.82x 2.90x 5.80x 5.22x

Creditor Turnover Ratio 0.56x 0.53x 0.80x 0.81x 0.79x
Inventory Turnover 0.45x 0.43x 0.59x 0.41x 0.34x
Fixed Asset Turnover 0.44x 0.39x 2.52x 0.33x 0.83x
Capital Turnover Ratio 0.30x 0.28x 0.41x 0.33x 0.19x

(in days)
Debtor Days 68.67 75.70 125.65 62.93 69.98
Payable Days 650.82 687.10 455.86 451.93 464.41
Inventory Days 814.24 840.38 619.05 892.33 1075.00
Cash Conversion Cycle 828.47 936.21 145.00 1093.96 439.86

CFO/Sales 5.44% 18.03% 27.18% -65.99% -22.57%

CFO/Total Assets 0.70% 2.08% 4.37% -8.48% -2.50%
CFO/Total Debt 2.02% 5.63% 10.68% -18.58% -8.66%
D
Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mean Median
24.74% -27.29% -10.99% 5.60% -0.39% -2.44% -7.82%
-9.67% -46.67% 28.24% 18.65% -1.00% -0.23% -1.00%
4.28% -50.85% 38.54% 21.68% -1.04% 3.46% 4.28%
-91.42% -501.66% -132.27% 76.75% 30.50% -10.65% 22.14%
0.00% 0.00% 0.00% 50.00% 33.33% 9.26% 0.00%

30.90% 26.08% 34.07% 38.22% 39.24% 39.03% 38.75%

25.68% 18.84% 27.14% 30.49% 30.31% 31.92% 30.40%
22.99% 15.54% 24.19% 27.88% 27.70% 26.73% 27.60%
7.72% 10.74% 15.51% 20.37% 26.38% 24.68% 11.63%
4.40% -24.32% 8.82% 14.76% 19.33% 11.31% 7.74%

5.22% 7.24% 6.93% 7.73% 8.93% 7.10% 6.97%

2.69% 3.29% 2.95% 2.61% 2.61% 5.19% 5.13%
22.99% 15.54% 24.19% 27.88% 27.70% 26.73% 27.60%

3.84% 2.22% 3.11% 3.93% 3.84% 4.08% 3.84%

1.12% -4.29% 1.35% 2.32% 2.92% 2.44% 1.89%
0.04% -0.10% 0.04% 0.09% 0.11% 0.11% 0.09%
0.93x 0.66x 1.53x 2.55x 4.02x 1.43x 1.02x

10.05x 8.44x 9.31x 10.14x 10.37x 7.24x 7.12x

0.51x 0.46x 0.48x 0.54x 0.49x 0.60x 0.53x
0.38x 0.27x 0.26x 0.28x 0.29x 0.37x 0.36x
1.32x 1.17x 1.11x 1.18x 1.19x 1.05x 1.14x
0.25x 0.18x 0.15x 0.16x 0.15x 0.24x 0.22x

36.31 43.23 39.19 35.98 35.20 59.28 53.08

716.98 800.55 765.74 678.16 740.32 641.19 682.63
960.20 1349.30 1421.60 1283.64 1240.92 1049.67 1017.60
275.81 311.24 327.39 310.42 306.71 497.51 319.32

24.15% -11.67% 14.00% 62.72% 51.59% 10.29% 16.01%

3.04% -1.27% 1.42% 7.01% 5.59% 1.20% 1.75%
11.73% -8.76% 11.17% 85.75% 88.12% 17.91% 8.15%
 DLF LTD - Sales Forecasting DLF LTD - EBITDA Forecasting
Year Weight Year Sales Sales Growth Year Weight Year EBITDA
1 2014A 8298.0 1 2014A 2493.2
2 2015A 7648.7 -7.82% 2 2015A 3013.7
3 2016A 9925.6 29.77% 3 2016A 3966.1
4 2017A 8221.2 -17.17% 4 2017A 3446.4
5 2018A 6706.8 -18.42% 5 2018A 2378.1
6 2019A 8366.1 24.74% 6 2019A 2148.2
7 2020A 6082.8 -27.29% 7 2020A 1145.7
8 2021A 5414.1 -10.99% 8 2021A 1469.3
9 2022A 5717.4 5.60% 9 2022A 1743.2
10 2023A 5694.8 -0.39% 10 2023A 1725.9
11 2024E 5065.5 -11.05% 11 2024E 1172.5
12 2025E 4676.0 -7.69% 12 2025E 957.8
13 2026E 4286.5 -8.33% 13 2026E 743.2
14 2027E 3897.1 -9.09% 14 2027E 528.6
DA Forecasting DLF LTD - EPS Forecasting
EBITDA Growth Year Weight Year EPS EPS Growth
1 2019A 2.3
20.87% 2 2020A 2.9 22.12%
31.60% 3 2021A 2.6 -9.56%
-13.10% 4 2022A 4.5 73.18%
-31.00% 5 2023A 24.1 436.34%
-9.67% 6 2024A 1.7 -93.07%
-46.67% 7 2025A -6.0 -458.16%
28.24% 8 2026A 1.9 -132.27%
18.65% 9 2027A 3.4 76.75%
-1.00% 10 2028A 4.4 30.50%
-32.07% 11 2029E 3.0 -31.72%
-18.31% 12 2030E 2.8 -6.86%
-22.41% 13 2031E 2.6 -7.36%
-28.88% 14 2032E 2.4 -7.95%
 Common Size Statement - DLF LTD
Particulars Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20

Sales 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Power and Fuel 1.11% 1.06% 1.72% 0.63% 0.50% 0.49% 0.67%
Other Mfr. Exp 48.03% 44.03% 46.54% 43.02% 48.32% 60.79% 57.60%
Employee Cost 6.78% 4.60% 3.22% 4.06% 5.20% 4.21% 5.88%
Selling and admin 8.22% 6.81% 6.07% 6.85% 7.02% 5.22% 7.24%
Other Expenses 5.81% 4.11% 2.49% 3.52% 3.50% 3.60% 9.78%
Other Income 13.66% 6.58% 5.10% 13.81% 144.95% 9.37% 18.66%
Depreciation 7.99% 7.12% 7.72% 6.96% 7.96% 2.69% 3.29%
Interest 29.68% 30.12% 27.00% 36.25% 44.00% 24.65% 23.46%
Profit before tax 6.03% 8.74% 10.34% 12.52% 128.46% 7.72% 10.74%
Tax -0.99% 2.07% 5.68% 2.79% 64.46% 3.32% 35.06%
Net profit 7.79% 7.06% 3.08% 8.69% 66.56% 15.77% -9.59%
Dividend Amount 4.29% 4.66% 3.59% 4.34% 5.32% 5.28% 8.14%

Common Size Balance Sheet - DLF LTD

Particulars Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20

Total Liablities 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Equity Share Capital 0.55% 0.54% 0.58% 0.56% 0.59% 0.66% 0.89%
Reserves 41.90% 40.77% 38.41% 37.86% 56.46% 48.71% 60.75%
Borrowings 34.61% 36.97% 40.93% 45.66% 28.87% 25.91% 14.50%
Other Liabilities 22.93% 21.73% 20.08% 15.92% 14.09% 24.72% 23.87%

Total Assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Net Block 29.19% 29.61% 6.39% 38.53% 13.34% 9.51% 9.28%
Capital Work in Progress 9.27% 8.91% 2.88% 0.24% 0.23% 0.15% 0.16%
Investments 1.38% 0.94% 34.52% 1.89% 34.38% 31.59% 33.22%
Other Assets 25.27% 27.43% 17.92% 19.29% 13.56% 17.08% 11.49%
Receivables 2.42% 2.39% 5.54% 2.22% 2.12% 1.25% 1.29%
Inventory 28.69% 26.58% 27.27% 31.43% 32.60% 33.10% 40.23%
Cash & Bank 3.78% 4.15% 5.48% 6.41% 3.76% 7.30% 4.33%
Mar-21 Mar-22 Mar-23

100.00% 100.00% 100.00%

0.53% 0.44% 0.42%
54.81% 50.59% 45.47%
5.81% 6.21% 9.63%
6.93% 7.73% 8.93%
4.78% 4.54% 5.25%
7.08% 3.42% 5.57%
2.95% 2.61% 2.61%
15.76% 10.92% 6.89%
15.51% 20.37% 26.38%
6.69% 5.61% 7.05%
20.20% 26.25% 35.75%
9.14% 12.99% 17.39%

Mar-21 Mar-22 Mar-23

100.00% 100.00% 100.00%

0.93% 0.97% 0.94%
65.15% 70.10% 70.75%
12.69% 8.17% 6.34%
21.24% 20.76% 21.97%

100.00% 100.00% 100.00%

9.08% 9.50% 9.10%
0.18% 0.16% 0.12%
36.92% 38.66% 37.06%
10.69% 9.46% 11.53%
1.09% 1.10% 1.04%
39.42% 39.30% 36.83%
2.63% 1.82% 4.33%
COMPANY NAME DLF LTD
LATEST VERSION 2.10 PLEAS
CURRENT VERSION 2.10

META
Number of shares 247.53
Face Value 2.00
Current Price 800.55
Market Capitalization 198,161.08

PROFIT & LOSS

Report Date Mar-14 Mar-15 Mar-16 Mar-17
Sales 8,298.04 7,648.73 9,925.61 8,221.23
Raw Material Cost
Change in Inventory
Power and Fuel 92.42 81.09 170.61 51.68
Other Mfr. Exp 3,985.42 3,367.47 4,619.50 3,536.50
Employee Cost 562.65 351.72 319.88 333.65
Selling and admin 682.45 520.78 602.55 563.25
Other Expenses 481.87 314.00 246.99 289.78
Other Income 1,133.17 503.46 505.87 1,135.47
Depreciation 662.93 544.79 765.89 572.49
Interest 2,463.25 2,303.86 2,679.80 2,979.82
Profit before tax 500.22 668.48 1,026.26 1,029.53
Tax -82.38 158.12 564.24 229.26
Net profit 646.21 540.23 306.20 714.80
Dividend Amount 356.29 356.39 356.74 356.80

Quarters
Report Date Jun-21 Sep-21 Dec-21 Mar-22
Sales 1,139.53 1,480.90 1,549.70 1,547.26
Expenses 744.09 1,022.64 1,028.38 1,179.72
Other Income 102.74 75.63 -87.21 104.87
Depreciation 37.92 37.26 37.35 36.91
Interest 174.93 175.89 145.53 128.20
Profit before tax 285.33 320.74 251.23 307.30
Tax 82.79 94.41 60.02 83.76
Net profit 337.10 378.95 379.48 405.33
Operating Profit 395.44 458.26 521.32 367.54

BALANCE SHEET
Report Date Mar-14 Mar-15 Mar-16 Mar-17
Equity Share Capital 356.29 356.39 356.74 356.80
Reserves 27,038.60 27,012.51 23,712.34 24,216.03
Borrowings 22,334.07 24,494.94 25,263.77 29,202.23
Other Liabilities 14,795.97 14,398.49 12,396.48 10,179.22
Total 64,524.93 66,262.33 61,729.33 63,954.28
Net Block 18,834.63 19,618.76 3,943.18 24,640.21
Capital Work in Progress 5,978.69 5,900.90 1,779.06 152.76
Investments 891.23 623.41 21,309.72 1,209.27
Other Assets 38,820.38 40,119.26 34,697.37 37,952.04
Total 64,524.93 66,262.33 61,729.33 63,954.28
Receivables 1,561.23 1,586.40 3,416.93 1,417.36
Inventory 18,511.20 17,610.47 16,834.24 20,098.80
Cash & Bank 2,442.03 2,747.65 3,381.32 4,098.93
No. of Equity Shares ### ### ### ###
New Bonus Shares
Face value 2.00 2.00 2.00 2.00

Total Assets 64,524.93 66,262.33 61,729.33 63,954.28

Other Assets 16,305.92 18,174.74 11,064.88 12,336.95

CASH FLOW:
Report Date Mar-14 Mar-15 Mar-16 Mar-17
Cash from Operating Activity 1,467.56 2,036.82 2,956.87 -897.85
Cash from Investing Activity 3,924.36 98.36 -818.01 871.60
Cash from Financing Activity -4,531.79 -1,547.42 -1,928.53 787.08
Net Cash Flow 860.13 587.76 210.33 760.82

PRICE: 176.45 158.25 114.75 148.65

DERIVED:
Adjusted Equity Shares in Cr 178.15 178.19 178.37 178.40
 DLF
PLEASE DO NOT MAKE ANY CHANGES TO THIS SHEET

Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23

6,706.79 8,366.09 6,082.77 5,414.06 5,717.39 5,694.83

33.27 41.38 40.67 28.86 25.11 23.69

3,240.78 5,086.00 3,503.64 2,967.47 2,892.68 2,589.24
348.88 352.62 357.70 314.59 354.78 548.63
470.87 436.90 440.39 375.10 441.74 508.49
234.85 300.99 594.66 258.78 259.84 298.90
9,721.56 783.95 1,135.00 383.15 195.34 317.31
533.53 224.63 200.30 159.48 149.44 148.63
2,950.71 2,061.87 1,426.94 853.36 624.55 392.14
8,615.46 645.65 653.47 839.57 1,164.59 1,502.42
4,323.05 277.38 2,132.67 362.28 320.98 401.50
4,463.86 1,319.20 -583.20 1,093.60 1,500.85 2,035.83
356.81 441.44 495.06 495.06 742.59 990.12

Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23

1,441.63 1,302.34 1,494.80 1,456.06 1,423.23 1,347.68
1,027.97 865.67 1,017.60 1,057.71 1,027.06 885.33
74.65 58.16 64.86 119.64 98.48 128.74
37.33 36.67 38.59 36.04 36.36 36.96
105.22 106.93 95.43 84.56 84.85 90.16
345.76 351.23 408.04 397.39 373.44 463.97
87.61 90.96 110.39 112.54 101.42 112.20
 469.57 477.04 519.21 570.01 527.00 622.78
413.66 436.67 477.20 398.35 396.17 462.35

Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23

356.81 441.44 495.06 495.06 495.06 495.06
34,203.53 32,385.00 33,951.68 34,848.87 35,867.22 37,192.47
17,490.80 17,222.46 8,102.51 6,785.41 4,181.84 3,333.99
8,533.39 16,433.82 13,341.20 11,358.31 10,622.74 11,550.71
60,584.53 66,482.72 55,890.45 53,487.65 51,166.86 52,572.23
8,082.28 6,321.67 5,186.87 4,856.26 4,862.39 4,785.38
137.33 102.92 88.70 94.94 81.05 61.12
20,831.55 21,004.67 18,565.82 19,745.52 19,779.49 19,481.13
31,533.37 39,053.46 32,049.06 28,790.93 26,443.93 28,244.60
60,584.53 66,482.72 55,890.45 53,487.65 51,166.86 52,572.23
1,285.79 832.28 720.39 581.29 563.60 549.23
19,752.92 22,008.55 22,486.24 21,086.64 20,106.99 19,361.23
2,277.93 4,855.37 2,420.43 1,406.87 931.62 2,274.72
### ### ### ### ### ###

2.00 2.00 2.00 2.00 2.00 2.00

60,584.53 66,482.72 55,890.45 53,487.65 51,166.86 52,572.23

8,216.73 11,357.26 6,422.00 5,716.13 4,841.72 6,059.42

Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23

270.32 2,043.00 355.68 1,460.18 2,831.82 2,375.26
-2,102.44 2.98 6,508.10 150.47 266.98 -460.61
-231.99 875.42 -9,521.75 -2,183.79 -3,828.19 -2,013.15
-2,064.12 2,921.39 -2,657.97 -573.13 -729.39 -98.50

201.25 202.45 137.45 287.05 380.45 356.70

178.41 220.72 247.53 247.53 247.53 247.53

 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17
Cash from Operating Activity - 2,520 2,009 1,468 2,037 2,957 -898
Profit from operations 4,138 2,951 2,901 3,281 3,863 3,957
Receivables -561 -627 -1,822 -1,407 -496 -213
Inventory -611 -816 -324 1,291 806 -2,967
Payables 703 1,441 1,129 -542 -53 278
Loans Advances 0 0 0 0 0 479
Operating investments 0 0 0 0 0 0
Other WC items 0 0 0 0 -516 -2,104
Working capital changes -468 -2 -1,017 -658 -258 -4,527
Direct taxes -1,150 -940 -416 -640 -648 -328
Exceptional CF items 0 0 0 54 0 0
Cash from Investing Activity - -24 1,995 3,924 98 -818 872
Fixed assets purchased -576 -1,319 -949 -869 -645 -215
Fixed assets sold 534 170 1,259 31 60 11
Investments purchased -702 -324 -524 -144 0 0
Investments sold 630 3,467 2,217 432 22 826
Interest received 307 0 247 407 155 196
Dividends received 0 242 0 0 2 0
Invest in subsidiaries 0 0 0 0 0 0
Issue of shares on acq 0 15 0 0 0 0
Redemp n Canc of Shares 0 0 0 0 0 0
Other investing items -217 -256 1,675 242 -411 52
Cash from Financing Activity - -2,438 -3,951 -4,532 -1,547 -1,929 787
Proceeds from shares 105 139 1,515 0 0 0
Proceeds from debentures 0 0 0 918 1,375 0
Redemption of debentures -300 -1,025 -670 0 -562 -62
Proceeds from borrowings 6,429 0 6,152 6,792 10,756 15,246
Repayment of borrowings -5,054 0 -7,698 -5,425 -9,503 -11,245
Interest paid fin -3,013 -3,243 -3,225 -3,177 -3,209 -3,147
Dividends paid -511 -502 -518 -550 -786 -4
Financial liabilities 0 0 0 0 0 0
Other financing items -96 679 -88 -107 0 0
Net Cash Flow 58 52 860 588 210 761
Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23
270 2,043 356 1,460 2,832 2,375
2,478 2,302 1,462 1,761 1,858 1,898
-745 0 -82 31 24 61
-381 2,845 2,523 1,480 987 792
23 -2 -141 219 320 125
41 45 -678 52 0 0
0 219 -328 0 0 0
-722 -3,131 -2,360 -2,484 -577 -415
-1,784 -24 -1,064 -702 754 563
-424 -234 -42 401 220 -86
0 0 0 0 0 0
-2,102 3 6,508 150 267 -461
-3,409 -604 -206 -14 -148 -64
2,684 35 68 83 1 9
-949 -474 -11,278 -2,683 -1,447 -1,240
14 955 10,321 2,151 1,620 1,386
329 110 124 138 112 45
19 36 1,973 197 336 954
0 0 0 0 -149 -20
0 0 0 0 0 0
0 251 6,051 3 385 11
-790 -307 -544 275 -441 -1,543
-232 875 -9,522 -2,184 -3,828 -2,013
0 3,094 0 0 0 0
8,250 0 988 509 0 0
-402 -408 -345 -845 -500 -500
13,051 4,675 8,479 6,506 693 267
-17,060 -4,637 -17,669 -7,407 -2,871 -640
-2,036 -1,677 -2,382 -720 -633 -370
-816 -170 -808 -199 -497 -743
0 0 -31 -28 -22 -27
-1,219 -3 2,246 1 2 0
-2,064 2,921 -2,658 -573 -729 -98