F.

M PROJECT ON :-

Submitted to :-Pali Gaur

Submitted By :Nikita Vyas Roll No.12069 Raviraj Patil Roll No.12060 Surabhi Raj Singh Roll No.12070

Index 1. Founders 2. Overview 3. Quick Facts 4. History 5. Company Background 6. Company Description 7. Competitors 8. Balance Sheet 9. Director s Report 10.Auditor s Report 11. Income statement 12. Ratio analysis

Founders:-

Overview
KPIT Cummins (BSE: 532400, NSE: KPIT) is a product engineering and IT consulting company providing solutions and services to the Manufacturing, Automotive, Industrial Equipments, Utilities and Semiconductor companies. It is headquartered in Pune India and has offices in 11 countries including the United Kingdom, China, India, France, South Africa, Germany, United States, Japan, Singapore and Korea. Worldwide KPIT Cummins has over 6500 employees.

Quick Facts
y Offices in 11 countries y 6500 employees y 155+ customers y Among BEST 5 companies by Industry focus: Automotive - International Association of Outsourcing Professionals (IAOP), (2009) yAmong top 10 Engineering Services Vendors - Global Services 100 (2010) y A specialist provider having strong Intellectual Property for various automotiveprocesses from design to customer data. - Forrester Research (2010) y KPIT Cummins are specialists in product engineering design and one of the worlds leading automotive software developers. - Strategy Analytics Blog (2010)

History
KPIT Cummins started as a financial auditing firm decades before moving into the field of software. Close to late 80s they started developing software for banks and financial firms and went on to expand in other domains like manufacturing. Today, KPIT Cummins is one of the fastest growing IT and Engineering Services provider globally. KPIT Cummins is focused on key verticals of Automotive, Manufacturing and Energy and Utilities.
TypePublicTraded asBSE: 532400 KPIT Industry Product Engineering and IT Consulting Founded 1990 Headquarters Pune, India Services IT Consulting, Product Engineering Solutions, Business Process Outsourcing, Knowledge Process Outsourcing Revenue US$224 million. (2011) Employees 6500+ (Mar, 2011) Website www.kpitcummins.com

Company Background
KPIT Cummins Infosystems Limited (KPCIL) was established in 1990. It is one of the leading Indian consulting and IT solutions and service providers in the US.The company offers integrated solutions to clients in manufacturing and diversified financial services domains. It has developed different linesof- business (LOBs) to cater to the requirement of its clients in an efficient manner/

Company Description
KPIT Cummins Infosystems provides help for the technically challenged. The company provides consulting, customized software development, product design, and outsourced support services. Its areas of specialization include automotive electronics, industrial automation, and semiconductors. It also provides consulting and outsourcing services for the financial services sector, as well as business intelligence and other enterprise software implementations for the manufacturing industry. Customers include Freescale, Business Objects, Hyundai, and Cummins. The company has operations around the globe. KPIT Cummins Infosystems was created when KPIT and Cummins Infosystems merged.
Chairman and Group CEO Ravi Pandit CEO and Managing Director Kishor Patil President and Executive Director Girish Wardadkar Competitors:1. Infosys, 2.Tata Consultancy Services,3. Wipro InfotechOracle Financial Services ,HCL Technologies , Redington (India) Ltd, Mphasis Ltd.,, Educomp Solutions,Tech Mahindra Ltd.

Balance Sheet details: oThe Cash Balance as at March 31, 2011 stood at Rs.2,572.51 Million as compared to Rs. 1,546.24 Million as on December 31, 2010. During the quarter, we completed allotment of 7,758,621 shares to Warhol Limited, Mauritius on a preferential basis at an issue price of Rs.145 per equity share which amounted to an aggregate consideration of Rs.1,125.00 Million. oCapital expenditure for the quarter stood at Rs. 220 Million including CWIP. oAs on March 31, 2011 our total debt was Rs.1,105.44 Million (Rs.1,228.79 Million as of Dec 31, 2010) comprising of Rs. 280.80 Million of Term Loan, Rs. 785.27 Million of Working Capital Loan and Rs.39.36 Million of short term loan. oForex Hedging instruments with maturity of more than 3 months and considered effective hedges in accounting terms are provided for as adjustment to the Reserves and Surplus in the Balance Sheet (OCI). As on March 31, 2011 these Hedging Reserves were Rs. 136.24 Million as Jan - Mar 2011 Q4 FY11 Investor Update 22 compared to Rs. 155.11 Million as of Q3FY11 end. As a result of rupee appreciation during the quarter and also reduction in total outstanding hedges as of quarter end as compared to last quarter, there was this reduction in Hedging Reserve.

Balance Sheet For Last 5 years

Owners' Fund Equity Share Capital Share Application Money Reserves & Surplus Loan Funds Secured Loans Unsecured Loans Total USES OF FUNDS Fixed Assets Gross Block Less: Revaluation Reserve Less: Accumulated Depreciation Net Block Capital Work-in-progress Investments Net Current Assets Current Assets, Loans & Advances Less : Current Liabilities & Provisions Total Net Current Assets Miscellaneous Expenses not written Total Note Book Value of Unquoted Investment Market Value of Quoted Investment Contingent liabilities Number of Equity shares outstanding (in Lacs) 226.58 0.00 9.85 878.63 226.55 0.00 6.51 785.23 83.36 0.00 13.68 780.43 72.13 0.00 9.34 778.83 83.83 0.00 6.81 747.76 432.47 111.40 321.07 0.00 691.29 222.51 90.07 132.44 0.00 499.20 319.93 261.13 58.80 0.00 290.07 238.05 77.21 160.84 0.00 361.80 163.23 63.48 99.75 0.00 315.49 269.57 0.00 154.15 115.42 28.22 226.58 208.38 0.00 95.94 112.44 27.76 226.55 189.76 0.00 76.60 113.16 34.75 83.36 163.05 0.00 54.91 108.14 20.70 72.13 140.12 0.00 26.33 113.78 18.13 83.83 109.40 0.00 691.29 110.77 0.00 499.20 118.01 0.46 290.07 85.78 0.71 361.80 121.72 0.58 315.49 Mar' 11 17.57 0.75 563.57 Mar' 10 15.70 1.73 370.99 Mar' 09 15.61 0.00 155.99 Mar' 08 15.58 2.80 256.93 Mar' 07 14.96 2.55 175.68

Auditors Report
TO THE MEMBERS OF KPIT CUMMINS INFOSYSTEMS LIMITED 1. We have audited the attached Balance Sheet of KPIT CUMMINS INFOSYSTEMS LIMITED (the Company) as at 31st March, 2011, the statements based on our audit. 2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those Standards require that we plan 3. As required by the Companies (Auditors Report) Order, 2003(CARO), issued by the Central Government in terms of Section 227(4A) of the 4. Further to our comments in the Annexure referred to in paragraph 3 above, we report as follows: (a) we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit; (b) in our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books; the books of account; compliance with the Accounting Standards referred to in Section 211(3C) of the Companies Act, 1956; (e) in our opinion and to the best of our information and according to explanations given to us, the said accounts give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India,: (i) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2011; 5. On the basis of the written representations received from the directors as on 31st March, 2011 taken on record by the Board of Directors, Companies Act, 1956. For DELOITTE HASKINS & SELLS Chartered Accountants (Registration No. 117 366W) KhurshedPastakia Place: Pune Partner Date: April 25, 2011 (Membership No. 31544

Competitors :1. Infosys 2. Tata Consultancy Services 3. Wipro Infotech 4. Oracle Financial Services 5. HCL Technologies 6. Tech Mahindra Ltd 7. Redington Ltd. 8. Mphasis Ltd. 9. Educomp Solutions

Review of balance sheet

In this company the total capital consist of equity shares ,reserves and surplus ,secured loans and unsecured loans .The total fund has increased to 691.29 in march 2011 which was earlier in march 2007 was 315.49, this increase indicates that the company is growing. These funds are used in different type of assets consist of fixed and current both, this also in totality has increased .As the net blocked increased from 113.78 to 115.42 and the current assets have also increased from 99.75 to 321.07 .The company also made huge investment as the unquoted investment has increased from 83.832 to 226.58 and even the contingent liability has increased from 6.81 to 9.85.Market share of company is 11.34 %.The no of equity share outstanding (in lacks) has increased from 747.76 in march 2007 to 878.63, this indicates the efficiency of company s performance.

K P I T Cummins Infosystems Limited

Financials (Standalone) Latest Quarterly/Halfyearly As On(Months) Sales of Products/Services Other Operating Income Other Income Total Income Total Expenses OPBDIT Interest Depreciation Exceptional & Extraordinary Items Prior Period Adjustments Provision for Tax After Tax Profit Equity Capital Reserves Notes to Accounts Income Statement 31-Mar-10(12) Profit / Loss A/C Net Sales (OI) Material Cost Increase Decrease Inventories Personnel Expenses Manufacturing Expenses Gross Profit Administration Selling and Distribution Expenses EBITDA Depreciation Depletion and Amortisation EBIT Interest Expense Other Income Pretax Income Provision for Tax Extra Ordinary and Prior Period Items Net Net Profit Adjusted Net Profit Dividend - Preference Dividend - Equity Rs mn 0.00 0.00 2592.48 75.79 1602.18 281.60 1320.58 281.74 1038.84 63.23 -73.88 901.73 117.23 0.00 784.50 784.50 0.00 54.97 %OI 0.00 0.00 60.71 1.77 37.52 6.59 30.92 6.60 24.33 1.48 -1.73 21.12 2.75 0.00 18.37 18.37 0.00 1.29 4270.45 100.00 31-Mar-09(12) Rs mn 0.00 0.00 4282.93 111.54 2047.34 400.58 1646.76 232.55 1414.21 76.01 -634.10 704.10 76.41 0.00 627.69 627.69 0.00 46.83 %OI 0.00 0.00 66.49 1.73 31.78 6.22 25.56 3.61 21.95 1.18 -9.84 10.93 1.19 0.00 9.74 9.74 0.00 0.73 6441.81 100.00 31-Mar-08(12) Rs mn 0.00 0.00 1949.71 340.58 2343.25 1612.52 730.73 203.77 526.96 85.68 265.70 706.98 66.13 0.00 640.84 640.84 0.00 54.52 %OI 0.00 0.00 42.08 7.35 50.57 34.80 15.77 4.40 11.37 1.85 5.73 15.26 1.43 0.00 13.83 13.83 0.00 1.18 4633.55 100.00 30-Jun-2011(3) 1499.85 0.00 41.58 1541.43 1210.56 330.86 8.97 85.35 0.00 0.00 44.91 191.63 176.10 0.00 Click here 30-Jun-2010(3) 1067.72 0.00 -62.85 1004.87 846.42 158.45 4.50 71.20 0.00 0.00 18.31 64.43 157.61 0.00 Click here Detailed Quarterly % Change 40.47 -NM 53.40 43.02 108.81 99.33 19.87 --145.28 197.42 11.73 --

Balance Sheet 31-Mar-10 Equity Capital Preference Capital Share Capital Reserves and Surplus Loan Funds Current Liabilities Provisions Current Liabilities and Provisions Total Liabilities and Stockholders Equity (BT) Tangible Assets Net Intangible Assets Net Net Block Capital Work In Progress Net Fixed Assets Investments Inventories Accounts Receivable Cash and Cash Equivalents Other Current Assets Current Assets Loans & Advances Miscellaneous Expenditure Other Assets Total Assets (BT) 157.05 0.00 157.05 3709.87 1107.74 672.37 176.64 849.01 5892.64 794.94 329.47 1124.40 277.63 1402.03 2265.54 0.00 999.12 578.73 2.77 1580.63 644.44 0.00 5892.64 %BT 2.67 0.00 2.67 62.96 18.80 11.41 3.00 14.41 100.00 13.49 5.59 19.08 4.71 23.79 38.45 0.00 16.96 9.82 0.05 26.82 10.94 0.00 100.00 31-Mar-09 156.09 0.00 156.09 1559.89 1184.76 2177.29 173.85 2351.14 5312.37 867.26 264.32 1131.58 347.54 1479.12 833.64 0.00 1287.31 1229.08 8.95 2525.33 474.28 0.00 5312.37 %BT 2.94 0.00 2.94 29.36 22.30 40.99 3.27 44.26 100.00 16.33 4.98 21.30 6.54 27.84 15.69 0.00 24.23 23.14 0.17 47.54 8.93 0.00 100.00 31-Mar-08 155.77 0.00 155.77 2569.35 864.86 485.89 235.78 721.67 4390.16 990.94 90.41 1081.35 206.97 1288.32 721.33 0.00 1228.17 577.86 2.98 1809.01 571.49 0.00 4390.16 %BT 3.55 0.00 3.55 58.53 19.70 11.07 5.37 16.44 100.00 22.57 2.06 24.63 4.71 29.35 16.43 0.00 27.98 13.16 0.07 41.21 13.02 0.00 100.00

Ratio Analysis As on Return Related Return on Total Assets (%) Return on Networth (%) Return on Capital Employed (%) Profitability Gross Margin (%) Operating Margin (%) Net Profit Margin (%) Adjusted Net Profit Margin (%) Asset Turnover(x) Leverage Debt/Equity ratio (x) Total Debt/Total Assets (x) Long term Debt/Networth (x) Interest Coverage (x) Liquidity Current Ratio (x) Quick Ratio (x) Cash Ratio (x) Working Capital Working Capital to Sales (x) Working Capital Days (days gross sales) Receivables (days gross sales) Creditors (days cost of sales) FG Inventory (days cost of sales) RM Inventory (days consumption) Cash Flow Indicator Operating Cash Flow/Sales (%) Per Share Book Value Per Share (Rs) Earnings Per Share (Rs) Dividend Per Share (Rs) Growth(%) Total Operating Income EBITDA EBIT Net Profit Total Assets

31-Mar-10

31-Mar-09

31-Mar-08

20.60 20.20 22.00

47.80 36.60 34.10

14.40 23.30 24.00

37.50 24.30 18.40 18.40 1.10

56.80 22.00 9.70 9.70 1.90

50.60 11.40 13.80 13.80 1.40

0.30 0.20 0.10 20.90

0.70 0.40 0.40 21.70

0.30 0.20 0.20 8.50

1.90 2.40 0.90

1.00 1.20 0.60

2.50 3.70 1.20

0.20 77.60 85.40 42.70 ---

0.10 20.90 72.90 39.20 ---

0.30 104.20 96.70 37.80 ---

25.70

19.10

10.90

45.30 10.00 0.70

18.60 8.10 0.60

33.90 8.30 0.70

-33.71 -19.81 -26.54 24.98 70.32

39.03 125.36 168.37 -2.05 -19.28

46.73 17.14 2.11 40.10 15.61

Formulas:

Current Ratio = Total Current Assets/ Total Current Liabilities Quick Ratio = Total Quick Assets/ Total Current Liabilities Quick Assets = Total Current Assets (minus) Inventory Debt to Equity Ratio = Total Liabilities / Owners Equity or Net Worth Inventory Turnover Ratio = Net Sales / Inventory Accounts Payables to Sales Ratio = [Accounts Payables / Net Sales ] x 100 Return on Sales or Profit Margin = (Net Profit / Net Sales) x 100 Return on Assets = (Net Profit / Total Assets) x 100 Return on Equity or Net Worth = (Net Profit / Net Worth or Owners Equity) x 100 Net Worth or Owners Equity = Total Assets (minus) Total Liability