All amounts in Indian Rupees millions, except share data and where otherwise stated

EQUITY AND LIABILITIES

2012
2013
Shareholders funds
Share capital
291.1
291.2
Reserves and surplus
24,641
28,926
Total Shareholder Funds
24,932
29,217
Non current liabilities
Long term borrowings
8,337
10,411
Deferred tax liabilities, net
37.9
679
Other long term liabilities
0
0
Long term provisions
41.2
85
Total Non Current Liabilities
8,417
11,175
Current liabilities
Short term borrowings
16,082
17,339
Trade payables
5,849
9,013
Other current liabilities
4,058
680
Short term provisions
576
648
Total Current Liabilities
26,564
27,680
Total Liabilities and Owners Equity
59,912
68,072
ASSETS
Non current assets
Fixed assets
Tangible assets
16,267
20,119
Intangible assets
1
0
Capital work-in-progress
5,581
1,663
Non current investments
6,103
7,079
Deferred tax assets, net
0
0
Long term loans and advances
1,784.90
2,891
Other non current assets
1.2
185.8
Total Non Current Assets
29,738
31,939
Current assets
Current investments
187
0
Inventories
12,193
14,317
Trade receivables
14,263
17,306
Cash and bank balances
140
972
Short term loans and advances
2,625
2,760
Other current assets
767.5
778
Total Current Assets
30,175
36,133
Total Assets
59,912
68,072
tally check

INCOME
Sales, gross
Less: Excise duty
Sales, net
Service income
License fees
Other operating revenues
Revenue from operations
Other income
Total revenue
EXPENSES
Cost
consumed
Cost of
of material
Goods Sold
(Cost of material
Purchase
consumedof+stock-in-trade
Purchase of stock-inChanges
in inventories
of fi nished
trade + Changes
in inventories
of figo
nished goods,work-in-progress and
stock-intrade)
Conversion charges
Employee benefi ts expense
Finance costs
Depreciation
Other expenses
Total expenses
Profi t before exceptional and extraord
Exceptional items
Profi t before extraordinary items and
Extraordinary items
Profi t before tax
Tax expense
Profi t for the year
Dividends
Number of shares

43,787
-972.8
42,815
0
0
0
0
191
43,005

55,695
-1,444.00
54,251
0
0
0
0
265
54,516

23,933
355
899

30,536
781
-1,211

25,187
0
3,641
2,676
1,429
8,252
41,185
1,820
3,199
-1,378

30,107
0
4,314
2,501
1,714
10,250
48,885
5,631
0
5,631

-1,378
-952
-426
0
660,000,000

5,631
671
4,960
674
660,000,000

-426
1,429

4,960
1,714

Cash Flow Statement

Cash Flow from Operations:
PAT
Add: Depreciation

Add: Interest (finance cost)

Less: Other Income
Less: Increase in Current Assets
Inventories
Trade receivables
Short term loans and advances
Other current assets
Add: Increase in Current Liabilities
Trade payables
Other current liabilities
Short term provisions
NO SHORT TERM BORROWING
NO CASH AND SHORT TERM INVESTMENT
TOTAL CFO
Cash Flow from Investing:
Less: Increase in Non Current Assets
Tangible assets
Intangible assets
Capital work-in-progress
Non current investments
Deferred tax assets, net
Long term loans and advances
Other non current assets
Less: Increase in Short Term Investment
Short Term Investments
Add: Increase in Other Income
Other Income
TOTAL CFI
Cash Flow from Financing:
Add: Increase in Non Current Liabilities
Long term borrowings
Deferred tax liabilities, net
Other long term liabilities
Long term provisions
Share Capital
Add: Short Term Borrowings
Short Term Borrowings
Less: Interest Expense
Finance cost
Less: Dividend Paid
TOTAL CFF

2,676
-191

2,501
-265
-2,125
-3,043
-135
-10
3,164
-3,377
72

3,455

-5,567
1
3,917
-976
0
-1,106
-184.6
186
265
-3,464

2,073
642
0
43.8
0.1
1,257
-2,501
-674
841

NET CASH FLOW

Free Casf Flow to the Firm (FCFF)

832

1,807

here otherwise stated

2014

2015

2016

2017

2018

291.5
40,052
40,343

292
53,411
53,703

292
84,619
84,911

292
118,816
119,108

292
156,384
156,676

10,323
2,053
0
83
12,459

6,872 10299.68115 10874.56722 9604.221198

2,103 3938.18515 4307.925796 4690.180933
0 2676.43651 2927.71656 3187.501605
226.5 420.5828801 460.0697452 500.8931094
9,202
17,335
18,570
17,983

17,826
12,362
1,924
1,062
33,173
85,975

22,094 41312.70927 45191.39634 49201.36406

11,460 21425.85638 23437.44539
25517.12
5,048
24,584
1,059
-23,611
860 1605.861906 1756.629936 1912.500963
39,462
88,928
71,444
53,020
102,366
191,174
209,123
227,679

19,379
0
2,039
8,726
0
4,636
163.3
34,944

21,900 40949.4786 44794.06337 48768.77456

0
0
0
0
2,272 4244.063608 4642.521974 5054.466831
9,931 1414.687869 1547.507325 1684.822277
0
0
0
0
4,189 7838.135493 8574.02707 9334.826129
285.5 535.287302 585.5433121 637.500321
38,578
54,982
60,144
65,480

0
17,118
29,701
316
3,147
748
51,031
85,975

196
21,451
37,089
218
4,009
825
63,788
102,366

363.2306692
40102.90486
69340.36238
19,148
7494.022228
1548.509695
137,997
191,174
192,979

397.3329618
43868.00817
75850.45507
20,776
8197.606369
1693.893153
150,784
209,123
210,927

432.5895036
47760.5477
82580.89275
22,460
8925.004494
1844.197357
164,003
227,679
229,483

72,695
-1,588.20
71,107
0
0
0
0
748
71,855

82,448 154143.6256 168615.5616 183577.3246

-1,497.40 -2805.41399 -3068.80322 -3341.10731
80,951
151,338
165,547
180,236
1,689 3159.944324 3456.619013 3763.335154
0
0
0
0
0
0
0
0
0
154,498
169,003
184,000
672 1263.97773 1382.647605 1505.334062
81,623
155,762
170,386
185,505

34,223
969
-358

39,203
158
-1,590.90

34,835
0
5,142
2,888
1,860
11,936
56,661
15,195

37,770
0
6,688
1,321
2,452
13,989
62,220
19,404

15,195

19,404

15,195
3,473.70
11,721
595.5
660,000,000

11,721
1,860

70,613
77,243
84,097
0
0
0
12501.04803 13674.72205 14888.12102
1980.628686 2091.179276 1846.891736
4578.065679 5007.88218 5452.24654
26158.17326 28614.06081 31153.07198
115,831
126,631
137,437
39,931
43,755
48,068
39,931

43,755

48,068

19,404
39,931
43,755
48,068
4,240.00 8722.713929 9558.126413 10500.14465
15,164
31,208
34,197
37,568
1804.6
0
0
0
660,000,000

15,164
2,452

31,208
4,578

34,197
5,008

37,568
5,452

2,888
-748

1,321
-672

1,981
-1,264

2,091
-1,383

1,847
-1,505

-2,801
-12,395
-388
30

-4,332
-7,388
-861
-77

-18,652
-32,251
-3,486
-724

-3,765
-6,510
-704
-145

-3,893
-6,730
-727
-150

3,349
1,244
414

-901
3,124
-202

9,965
19,536
746

2,012
-23,525
151

2,080
-24,670
156

5,174

7,626

11,638

7,427

9,427

-1,120
0
-376
-1,647
0
-1,745
22.5

-4,972
0
-233
-1,205
0
447
-122.2

-23,627
0
-1,972
8,516
0
-3,649
-250

-8,852
0
-398
-133
0
-736
-50

-9,427
0
-412
-137
0
-761
-52

-196

-167

-34

-35

748
-4,116

672
-5,610

1,264
-19,885

1,383
-8,821

1,505
-9,319

-88
1,373
0
-2
0.3

-3,452
3,428
575
-1,270
51
1,835
370
382
0 2676.43651 251.2800505 259.7850447
143.5 194.0828801 39.48686508 40.82336417
0.5
0
0
0

487

4,268

19,219

3,879

4,010

-2,888
-596
-1,714

-1,321
-1,805
-2,114

-1,981
1,805
27,176

-2,091
0
3,023

-1,847
0
1,576

-656

-98

18,930

1,628

1,683

3,679

2,421

-13,962

-1,824
100%

-412
23%

2019

2020

292
197,790
198,082

292
243,693
243,985

6199.979566
0
5090.227333 5518.677002
3459.377799 3750.557186
543.6165113 589.373272
15,293
9,859
53397.96731 57892.52913
27693.5887 30024.58654
-49,444
-76,114
2075.626679 2250.334311
33,723
14,054
247,098
267,897

52928.48033
0
5485.584796
1828.528265
0
10131.03498
691.8755598
71,066

57383.52494
0
5947.312109
1982.43737
0
10983.77461
750.1114371
77,047

469.486987
51834.25732
89624.58452
24,221
9686.257838
2001.497155
177,838
247,098
248,903

509.0041895
56197.20005
97168.37796
26,108
10501.56012
2169.965229
192,654
267,897
269,702

199235.4514
-3626.08522
195,609
4084.326753
0
0
199,694
1633.730701
201,327

216005.3042
-3931.29654
212,074
4428.108736
0
0
216,502
1771.243494
218,273

91,270
98,952
0
0
16157.99511 17518.03017
1192.25607
0
5917.292906 6415.357535
33810.2561 36656.10012
148,348
159,542
52,980
58,732
52,980

58,732

52,980
58,732
11573.16178 12829.65019
41,407
45,902
0
0

41,407
5,917

45,902
6,415

1,192
-1,634

0
-1,771

-4,074
-7,044
-761
-157

-4,363
-7,544
-815
-168

2,176
-25,834
163

2,331
-26,669
175

11,353

13,492

-10,077
0
-431
-144
0
-796
-54

-10,870
0
-462
-154
0
-853
-58

-37

-40

1,634
-9,906

1,771
-10,665

-3,404
-6,200
400
428
271.876194 291.1793865
42.72340191 45.75676073
0
0
4,197

4,495

-1,192
0
315

0
0
-940

1,762

1,887

844
-205%

2,160

Less: Excise duty

Service income
License fees (Avg of last 2014 and 2015)
Other operating revenues
Other income
Cost of Goods Sold (Avg of 2012 to 2015)
Conversion charges
Employee benefi ts expense
Depreciation (Avg of 2012 to 2015)
Other expenses
Tax expense/PBT
Dividend Payout Ratio
Balance Sheet Assumptions
Total Asset Turnover
Inventory Turnover
Receivables Turnover
Payables Turnover
D/E
Deferred tax liabilities, net
Other long term liabilities
Long term provisions
Short term borrowings
Other current liabilities
Short term provisions
Interest%
Tangible assets
Intangible assets
Capital work-in-progress
Non current investments
Deferred tax assets, net
Long term loans and advances
Other non current assets
Current investments
Short term loans and advances
Other current assets

-1.82%
2.05%
0.00%
0.00%
0.82%
45.81%
0.00%
8.11%
2.97%
16.97%
21.84%
0%
80.63%
176.08%
222.30%
329.57%
12.13%
2.06%
1.40%
0.22%
21.61%
4.94%
0.84%
19.23%
21.42%
0.00%
2.22%
0.74%
0.00%
4.10%
0.28%
0.19%
3.92%
0.81%

Reasoning

9.13%

6.13%

3.13%

0.00%

CAGR
Long Term Growth Rate
Cost of Capital
FCFF
Growth Rate
Terminal Value
PV of the terminal value
PV of 2015 to 2028
Total Value of the firm
Number of Shares (in crores)
Value per share

-177.36%
5%
12%

2016
-13,962

2017
-1,824

2018
-412

Rf (Treasur
Rm-Rf

7.74%
9.05%

10970.66
-5036.9198
5933.73793
66
89.9051202

Wd
0.35038189
We
0.64961811
Kd (Interest% from Common Si
19.23%
Ke
t (Effective Tax Rtae fom comm
21.85%
Kd*(1-t)
0.15027814
WACC
0.05265474

2019
844

2020
2021
2022
2023
2024
2025
2026
2,160 2268.039 2381.441 2500.514 2625.539 2756.816 2894.657
-177.36%
5.00%
5.00%
5.00%
5.00%
5.00%
5.00%

2027
3039.39
5.00%

2028
2029
3191.359 3350.927
5.00%
5.00%
47870.39

2030
5.00%

2031

2032

2033

2034

Year

Annual Sal GDP

Infaltion
104.05
2002
16460 43,665.93
108.063
2003
18105 47,134.73
112.203
2004
20204 50,834.33
117.153
2005
19213 55,554.15
125.289
2006
24605 60,700.75
132.731
2007
65126 66,650.28
144.933
2008
49700 69,243.57
160.302
2009
68326 75,115.32
175.585
2010
68,833 82,822.13
192.165
2011
72,724 88,320.10
211.861
2012
94,734 92,808.00
233.028
2013 114,933 99,211.10
246.994
2014 131,715 106,322.73
262.03
2015 147,855 114,254.68
277.08
2016 154143.6 122,787.29
292.66
2017 168615.6 132,062.81
307.94
2018 183577.3 142,169.00
323.33
2019 199235.5 153,118.97
339.58
2020 216005.3 164,986.75

SUMMARY OUTPUT
Regression Statistics
Multiple R 0.978157
R Square 0.956792
Adjusted R 0.948935
Standard Er9969.417
Observatio
14
ANOVA
df
Regression
Residual
Total

SS
2 2.4E+010
11 1.1E+009
13 2.5E+010

Coefficients
Standard Error
Intercept -71060.79 10574.48
X Variable 0.762841 0.837071
X Variable 474.7229 347.3085

MS
F
Significance F
1.2E+010 121.7898 3.13E-008
99389266

t Stat
P-value Lower 95%Upper 95%
Lower 95.0%
Upper 95.0%
-6.720024 3.29E-005 -94335.07 -47786.51 -94335.07 -47786.51
0.911322 0.381663 -1.07954 2.605223 -1.07954 2.605223
1.366863 0.198953 -289.6979 1239.144 -289.6979 1239.144

Country

India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India
India

Subject Descriptor

Gross domestic product, constant prices

Gross domestic product, constant prices
Gross domestic product, current prices
Gross domestic product, current prices
Gross domestic product, deflator
Gross domestic product per capita, constant prices
Gross domestic product per capita, current prices
Gross domestic product per capita, current prices
Gross domestic product based on purchasing-power-parity (PPP) valuation of country GDP
Gross domestic product based on purchasing-power-parity (PPP) per capita GDP
Gross domestic product based on purchasing-power-parity (PPP) share of world total
Implied PPP conversion rate
Total investment
Gross national savings
Inflation, average consumer prices
Inflation, average consumer prices
Inflation, end of period consumer prices
Inflation, end of period consumer prices
Volume of imports of goods and services
Volume of Imports of goods
Volume of exports of goods and services
Volume of exports of goods
Population
General government revenue
General government revenue
General government total expenditure
General government total expenditure
General government net lending/borrowing
General government net lending/borrowing
General government structural balance
General government structural balance
General government primary net lending/borrowing
General government primary net lending/borrowing
General government gross debt
General government gross debt
Gross domestic product corresponding to fiscal year, current prices
Current account balance
Current account balance

Units

National currency
Percent change
National currency
U.S. dollars
Index
National currency
National currency
U.S. dollars
Current international dollar
Current international dollar
Percent
National currency per current international dollar
Percent of GDP
Percent of GDP
Index
Percent change
Index
Percent change
Percent change
Percent change
Percent change
Percent change
Persons
National currency
Percent of GDP
National currency
Percent of GDP
National currency
Percent of GDP
National currency
Percent of potential GDP
National currency
Percent of GDP
National currency
Percent of GDP
National currency
U.S. dollars
Percent of GDP

Scale

Billions
Billions
Billions
Units
Units
Units
Billions
Units

Millions
Billions
Billions
Billions
Billions
Billions
Billions
Billions
Billions

2002

2003

2004

43,665.93
3.907
25,363.27
523.768
58.085
41,037.00
23,836.26
492.234
2,378.85
2,235.63
4.434
10.662
24.75
25.962
104.05
3.975
105.184
4.06
12.248
9.957
17.743
17.225
1,064.06
4,497.42
17.732
6,970.04
27.481
-2,472.62
-9.749
-2,401.17
-9.278
-1,265.38
-4.989
21,013.46
82.85
25,363.27
6.345
1.211

47,134.73
7.944
28,415.03
618.369
60.285
43,623.07
26,298.03
572.299
2,619.03
2,423.90
4.592
10.849
26.831
29.109
108.063
3.857
108.855
3.491
7.681
10.862
16.21
12.36
1,080.50
5,170.00
18.195
8,104.15
28.521
-2,934.15
-10.326
-2,887.75
-10.049
-1,557.46
-5.481
23,937.68
84.243
28,415.03
14.083
2.277

50,834.33
7.849
32,422.10
721.589
63.78
46,320.93
29,543.46
657.522
2,902.27
2,644.58
4.707
11.171
32.818
32.476
112.203
3.831
113.391
4.167
34.734
28.61
27.255
15.085
1,097.44
6,126.85
18.897
8,810.52
27.174
-2,683.68
-8.277
-2,632.28
-8.034
-1,088.20
-3.356
27,003.92
83.289
32,422.10
-2.47
-0.342

2005

2006

2007

2008

2009

2010

2011

2012

55,554.15
9.285
36,933.69
834.218
66.482
49,869.08
33,154.12
748.85
3,273.78
2,938.76
4.91
11.282
34.65
33.463
117.153
4.411
119.006
4.952
15.188
13.776
17.773
11.297
1,114.00
7,040.44
19.062
9,689.44
26.235
-2,649.00
-7.172
-2,643.12
-7.149
-830.58
-2.249
29,877.02
80.894
36,933.69
-9.902
-1.187

60,700.75
9.264
42,947.06
949.118
70.752
53,717.48
38,006.25
839.927
3,686.98
3,262.81
5.089
11.648
35.659
34.651
125.289
6.945
127.314
6.981
10.525
6.232
16.016
10.59
1,130.00
8,734.51
20.338
11,382.98
26.505
-2,648.47
-6.167
-2,699.88
-6.331
-566.26
-1.319
33,115.75
77.108
42,947.06
-9.565
-1.008

66,650.28
9.801
49,870.90
1,238.70
74.825
58,159.05
43,517.36
1,080.89
4,156.08
3,626.59
5.295
12
38.114
36.843
132.731
5.94
136.868
7.504
19.432
21.571
18.648
18.033
1,146.00
10,952.53
21.962
13,150.34
26.369
-2,197.81
-4.407
-2,392.46
-4.903
178.461
0.358
36,917.69
74.027
49,870.90
-15.736
-1.27

69,243.57
3.891
56,300.60
1,224.10
81.308
59,589.99
48,451.46
1,053.44
4,402.48
3,788.71
5.345
12.788
34.305
32.025
144.933
9.193
147.875
8.042
7.526
10.298
6.91
0.841
1,162.00
11,095.65
19.708
16,703.98
29.669
-5,608.34
-9.961
-5,464.87
-9.556
-2,983.35
-5.299
41,964.29
74.536
56,300.60
-27.914
-2.28

75,115.32
8.48
64,778.30
1,365.37
86.238
63,758.03
54,983.95
1,158.93
4,812.08
4,084.50
5.816
13.462
36.48
33.684
160.302
10.604
165.321
11.798
7.11
5.039
-2.479
4.225
1,178.13
11,995.66
18.518
18,312.31
28.269
-6,316.65
-9.751
-6,238.48
-9.554
-3,356.66
-5.182
46,981.50
72.527
64,778.30
-38.181
-2.796

82,822.13
10.26
77,841.20
1,708.46
93.986
69,329.12
65,159.66
1,430.13
5,370.62
4,495.66
6.092
14.494
36.502
33.69
175.585
9.534
181.314
9.673
13.708
7.498
25.268
22.823
1,194.62
14,650.84
18.821
21,190.95
27.223
-6,540.11
-8.402
-6,765.79
-8.848
-3,258.66
-4.186
52,509.83
67.458
77,841.20
-48.053
-2.813

88,320.10
6.638
88,320.10
1,843.02
100
72,932.72
72,932.72
1,521.92
5,845.36
4,826.97
6.247
15.109
38.936
34.695
192.165
9.443
198.344
9.393
8.629
13.978
10.576
9.514
1,210.98
16,853.63
19.082
24,026.55
27.204
-7,172.92
-8.122
-7,363.44
-8.447
-3,376.17
-3.823
60,142.83
68.096
88,320.10
-78.155
-4.241

92,808.00
5.081
99,885.40
1,835.82
107.626
75,626.27
81,393.42
1,495.95
6,252.67
5,095.10
6.368
15.975
36.297
31.495
211.861
10.249
219.113
10.471
1.623
1.665
1.134
1.532
1,227.19
19,703.36
19.726
27,171.53
27.203
-7,468.17
-7.477
-7,394.03
-7.37
-3,095.08
-3.099
67,373.90
67.451
99,885.40
-88.163
-4.802

2013

99,211.10
6.899
113,450.60
1,875.16
114.353
79,794.19
91,246.84
1,508.16
6,783.66
5,456.01
6.588
16.724
32.522
30.794
233.028
9.991
237.182
8.246
-3.702
-3.535
4.479
6.047
1,243.34
22,440.63
19.78
30,638.74
27.006
-8,198.11
-7.226
-8,107.38
-7.112
-2,967.84
-2.616
74,344.23
65.53
113,450.60
-32.397
-1.728

2017

2018

2019

2020

106,322.73 114,254.68 122,787.29 132,062.81

7.168
7.46
7.468
7.554
126,539.86 141,095.04 159,581.88 179,876.51
2,049.50
2,308.02
2,510.60
2,755.83
119.015
123.492
129.966
136.205
84,403.58
89,522.56
94,958.89 100,806.02
100,452.81 110,552.92 123,414.39 137,303.11
1,626.98
1,808.41
1,941.60
2,103.58
7,375.90
7,996.62
8,722.55
9,574.55
5,855.31
6,265.64
6,745.68
7,308.43
6.835
7.105
7.363
7.629
17.156
17.644
18.295
18.787
31.461
32.079
32.458
32.661
30.023
30.805
30.871
30.841
246.994
262.028
277.082
292.662
5.993
6.087
5.745
5.623
251.495
266.131
281.955
296.663
6.035
5.819
5.946
5.216
9.579
11.097
6.857
8.076
10.1
12.1
6.5
8.1
6.556
6.781
8.117
8.035
6.898
6.431
8.204
8.061
1,259.70
1,276.27
1,293.06
1,310.07
24,516.77
27,506.63
31,405.61
35,646.82
19.375
19.495
19.68
19.817
33,564.35
37,616.07
42,756.66
48,030.16
26.525
26.66
26.793
26.702
-9,047.58 -10,109.45 -11,351.05 -12,383.34
-7.15
-7.165
-7.113
-6.884
-8,959.30 -10,037.95 -11,261.72 -12,276.39
-7.026
-7.071
-7.017
-6.788
-3,269.25
-3,108.59
-3,895.87
-4,181.57
-2.584
-2.203
-2.441
-2.325
82,197.64
90,864.20 101,083.79 112,291.16
64.958
64.399
63.343
62.427
126,539.86 141,095.04 159,581.88 179,876.51
-29.473
-29.408
-39.833
-50.146
-1.438
-1.274
-1.587
-1.82

2014

2015

2016

142,169.00
7.653
203,186.68
3,012.90
142.919
107,111.13
153,082.28
2,269.94
10,528.78
7,932.45
7.91
19.298
32.666
30.66
307.939
5.22
310.071
4.52
8.076
8.1
8.215
8.376
1,327.30
40,472.22
19.919
54,100.30
26.626
-13,628.09
-6.707
-13,628.09
-6.698
-4,621.34
-2.274
124,709.93
61.377
203,186.68
-60.455
-2.007

153,118.97
7.702
229,623.30
3,311.75
149.964
113,862.94
170,753.40
2,462.70
11,565.74
8,600.56
8.202
19.854
32.658
30.462
323.327
4.997
326.287
5.23
8.076
8.1
8.119
8.208
1,344.77
45,974.29
20.022
60,865.76
26.507
-14,891.47
-6.485
-14,891.47
-6.48
-5,007.04
-2.181
138,361.08
60.256
229,623.30
-72.723
-2.196

164,986.75
7.751
259,616.85
3,639.80
157.356
121,095.00
190,550.46
2,671.50
12,708.36
9,327.53
8.504
20.429
32.651
30.188
339.582
5.027
342.053
4.832
8.076
8.1
7.92
7.86
1,362.46
52,250.58
20.126
68,755.64
26.484
-16,505.06
-6.357
-16,505.06
-6.361
-5,573.07
-2.147
153,676.01
59.193
259,616.85
-89.647
-2.463

Date
Stock
Index
1-Apr-14
2601 6721.05
2-Apr-14
2626.8 6752.55
3-Apr-14
2663.6
6736.1
4-Apr-14
2650.05 6694.35
7-Apr-14
2606.15 6695.05
9-Apr-14
2624.4
6796.2
10-Apr-14
2550.45
6796.4
11-Apr-14
2576.9
6776.3
15-Apr-14
2575.05
6733.1
16-Apr-14
2536.75
6675.3
17-Apr-14
2552.2
6779.4
21-Apr-14
2549.8 6817.65
22-Apr-14
2552.6 6815.35
23-Apr-14
2565.9
6840.8
25-Apr-14
2629.25 6782.75
28-Apr-14
2676.75 6761.25
29-Apr-14
2664.65 6715.25
30-Apr-14
2706.15
6696.4
2-May-14
2737.35
6694.8
5-May-14
2729.15 6699.35
6-May-14
2744.35
6715.3
7-May-14
2742.2 6652.55
8-May-14
2737.15 6659.85
9-May-14
2718
6858.8
12-May-14
2722.9 7014.25
13-May-14
2610.75 7108.75
14-May-14
2518.35 7108.75
15-May-14
2481.6 7123.15
16-May-14
2406.9
7203
19-May-14
2286.15 7263.55
20-May-14
2323.25
7275.5
21-May-14
2300.05
7252.9
22-May-14
2296.1
7276.4
23-May-14
2308.7
7367.1
26-May-14
2300.1 7359.05
27-May-14
2311.8
7318
28-May-14
2351.6 7329.65
29-May-14
2384.1 7235.65
30-May-14
2460.65 7229.95
2-Jun-14
2413.95
7362.5
3-Jun-14
2337.45 7415.85
4-Jun-14
2318.85 7402.25
5-Jun-14
2310.25
7474.1
6-Jun-14
2354.05
7583.4
9-Jun-14
2352.9
7654.6
10-Jun-14
2395.5
7656.4
11-Jun-14
2432.5 7626.85
12-Jun-14
2434.95
7649.9
13-Jun-14
2445.15
7542.1
16-Jun-14
2424.45 7533.55

17-Jun-14
18-Jun-14
19-Jun-14
20-Jun-14
23-Jun-14
24-Jun-14
25-Jun-14
26-Jun-14
27-Jun-14
30-Jun-14
1-Jul-14
2-Jul-14
3-Jul-14
4-Jul-14
7-Jul-14
8-Jul-14
9-Jul-14
10-Jul-14
11-Jul-14
14-Jul-14
15-Jul-14
16-Jul-14
17-Jul-14
18-Jul-14
21-Jul-14
22-Jul-14
23-Jul-14
24-Jul-14
25-Jul-14
28-Jul-14
30-Jul-14
31-Jul-14
1-Aug-14
4-Aug-14
5-Aug-14
6-Aug-14
7-Aug-14
8-Aug-14
11-Aug-14
12-Aug-14
13-Aug-14
14-Aug-14
18-Aug-14
19-Aug-14
20-Aug-14
21-Aug-14
22-Aug-14
25-Aug-14
26-Aug-14
27-Aug-14
28-Aug-14

2411.75
2422.7
2447.25
2439.4
2454.05
2462.55
2478.25
2507.6
2552.95
2624.05
2614.95
2662.9
2639.05
2678.35
2730.4
2680.6
2663.25
2650.65
2700.7
2695
2638.85
2647.2
2647.35
2653.25
2653.75
2723.6
2734
2704.25
2744
2769.7
2823.15
2808.7
2758.8
2767.7
2780.15
2750.95
2755.3
2782.25
2721.4
2730.35
2741.35
2755.75
2774.3
2829.75
2885.85
2838.85
2826.05
2879.95
2889.5
2922.75
2947.9

7631.7
7558.2
7540.7
7511.45
7493.35
7580.2
7569.25
7493.2
7508.8
7611.35
7634.7
7725.15
7714.8
7751.6
7787.15
7623.2
7585
7567.75
7459.6
7454.15
7526.65
7624.4
7640.45
7663.9
7684.2
7767.85
7795.75
7830.6
7790.45
7748.7
7791.4
7721.3
7602.6
7683.65
7746.55
7672.05
7649.25
7568.55
7625.95
7727.05
7739.55
7791.7
7874.25
7897.5
7875.3
7891.1
7913.2
7906.3
7904.75
7936.05
7954.35

1-Sep-14
2-Sep-14
3-Sep-14
4-Sep-14
5-Sep-14
8-Sep-14
9-Sep-14
10-Sep-14
11-Sep-14
12-Sep-14
15-Sep-14
16-Sep-14
17-Sep-14
18-Sep-14
19-Sep-14
22-Sep-14
23-Sep-14
24-Sep-14
25-Sep-14
26-Sep-14
29-Sep-14
30-Sep-14
1-Oct-14
7-Oct-14
8-Oct-14
9-Oct-14
10-Oct-14
13-Oct-14
14-Oct-14
16-Oct-14
17-Oct-14
20-Oct-14
21-Oct-14
22-Oct-14
23-Oct-14
27-Oct-14
28-Oct-14
29-Oct-14
30-Oct-14
31-Oct-14
3-Nov-14
5-Nov-14
7-Nov-14
10-Nov-14
11-Nov-14
12-Nov-14
13-Nov-14
14-Nov-14
17-Nov-14
18-Nov-14
19-Nov-14

2975.8
2995.15
3000.5
3001.3
2980.2
3003
3008.4
3000.85
2976.45
2958.65
2983.4
3009.75
3081.95
3192.75
3222.95
3211.7
3199.1
3229.15
3310.4
3222.45
3208.2
3229.6
3200.4
3099.3
2966.2
2986.55
2998.85
2943.15
2935.3
2904.85
2918.6
2966.25
2964.3
3037.75
3057.65
3105.8
3081.1
3045.6
3094.9
3168.3
3181.3
3252.05
3397.15
3442.25
3418.35
3439.7
3468.25
3435.05
3439.75
3432.95
3523.05

8027.7
8083.05
8114.6
8095.95
8086.85
8173.9
8152.95
8094.1
8085.7
8105.5
8042
7932.9
7975.5
8114.75
8121.45
8146.3
8017.55
8002.4
7911.85
7968.85
7958.9
7964.8
7945.55
7852.4
7842.7
7960.55
7859.95
7884.25
7864
7748.2
7779.7
7879.4
7927.75
7995.9
8014.55
7991.7
8027.6
8090.45
8169.2
8322.2
8324.15
8338.3
8337
8344.25
8362.65
8383.3
8357.85
8389.9
8430.75
8425.9
8382.3

20-Nov-14
21-Nov-14
24-Nov-14
25-Nov-14
26-Nov-14
27-Nov-14
28-Nov-14
1-Dec-14
2-Dec-14
3-Dec-14
4-Dec-14
5-Dec-14
8-Dec-14
9-Dec-14
10-Dec-14
11-Dec-14
12-Dec-14
15-Dec-14
16-Dec-14
17-Dec-14
18-Dec-14
19-Dec-14
22-Dec-14
23-Dec-14
24-Dec-14
26-Dec-14
29-Dec-14
30-Dec-14
31-Dec-14
1-Jan-15
2-Jan-15
5-Jan-15
6-Jan-15
7-Jan-15
8-Jan-15
9-Jan-15
12-Jan-15
13-Jan-15
14-Jan-15
15-Jan-15
16-Jan-15
19-Jan-15
20-Jan-15
21-Jan-15
22-Jan-15
23-Jan-15
27-Jan-15
28-Jan-15
29-Jan-15
30-Jan-15
2-Feb-15

3528.65
3530.8
3522
3573.2
3575.25
3610.9
3606.25
3628.45
3591.4
3501.95
3475.55
3395.5
3315.4
3354.85
3401.6
3429.5
3377.75
3355.65
3142.35
3160.35
3151.25
3199.45
3237.9
3206.35
3134.45
3134.1
3140.85
3182.55
3246.2
3210.5
3221.4
3148.4
3065.55
3039.2
3066.3
3163.8
3207.25
3223.35
3208.25
3240.55
3285.8
3323.9
3306.2
3335.85
3361.25
3349.6
3212.4
3239.05
3363.3
3233.25
3139.1

8401.9
8477.35
8530.15
8463.1
8475.75
8494.2
8588.25
8555.9
8524.7
8537.65
8564.4
8538.3
8438.25
8340.7
8355.65
8292.9
8224.1
8219.6
8067.6
8029.8
8159.3
8225.2
8324
8267
8174.1
8200.7
8246.3
8248.25
8282.7
8284
8395.45
8378.4
8127.35
8102.1
8234.6
8284.5
8323
8299.4
8277.55
8494.15
8513.8
8550.7
8695.6
8729.5
8761.4
8835.6
8910.5
8914.3
8952.35
8808.9
8797.4

3-Feb-15
4-Feb-15
5-Feb-15
6-Feb-15
9-Feb-15
10-Feb-15
11-Feb-15
12-Feb-15
13-Feb-15
16-Feb-15
18-Feb-15
19-Feb-15
20-Feb-15
23-Feb-15
24-Feb-15
25-Feb-15
26-Feb-15
27-Feb-15
28-Feb-15
2-Mar-15
3-Mar-15
4-Mar-15
5-Mar-15
9-Mar-15
10-Mar-15
11-Mar-15
12-Mar-15
13-Mar-15
16-Mar-15
17-Mar-15
18-Mar-15
19-Mar-15
20-Mar-15
23-Mar-15
24-Mar-15
25-Mar-15
26-Mar-15
27-Mar-15
30-Mar-15
31-Mar-15

3087.15
3096.9
3072.05
3044.3
3099.1
3130.5
3152.4
3331.2
3343.95
3351.25
3354.25
3382.9
3403.9
3389.8
3359.75
3279.35
3252.2
3278.05
3349.05
3386.65
3407.9
3390.45
3441.5
3467.55
3437.3
3468
3432.8
3376.55
3313
3437.45
3427.05
3424.7
3426.6
3458.65
3511.45
3510.6
3445.7
3415.4
3425.3
3488.75

8756.55
8723.7
8711.7
8661.05
8526.35
8565.55
8627.4
8711.55
8805.5
8809.35
8869.1
8895.3
8833.6
8754.95
8762.1
8767.25
8683.85
8844.6
8901.85
8956.75
8996.25
8922.65
8937.75
8756.75
8712.05
8699.95
8776
8647.75
8633.15
8723.3
8685.9
8634.65
8570.9
8550.9
8542.95
8530.8
8342.15
8341.4
8492.3
8491

Income Statement
Sales, gross
Less: Excise duty
Sales, net
Service income
License fees
Other operating revenues
Revenue from operations
Other income
Total revenue
EXPENSES
Cost of material consumed
Purchase of stock-in-trade
Changes in inventories of fi nished goods,work-in-progress and stock-intrade
Cost of Goods Sold
Conversion charges
Employee benefi ts expense
Finance costs
Depreciation
Other expenses
Total expenses
Profi t before exceptional and extraordinary items and tax
Exceptional items
Profi t before extraordinary items and tax
Extraordinary items
Profi t before tax
Tax expense
Profi t for the year
Dividends
Number of shares
Additional Ratios
Effective Tax Rtae
Payout Ratio
Total Asset Turnover Ratio
Inventory Turnover
Receivables Turnover
Payables Turnover
LTD/E
Interest%

Balance Sheet
Share capital
Reserves and surplus
Total Shareholder Funds
Non current liabilities
Long term borrowings
Deferred tax liabilities, net
Other long term liabilities
Long term provisions
Total Non Current Liabilities
Current liabilities
Short term borrowings
Trade payables
Other current liabilities
Short term provisions
Total Current Liabilities
Total Liabilities and Owners Equity
ASSETS
Non current assets
Fixed assets
Tangible assets
Intangible assets
Capital work-in-progress
Non current investments
Deferred tax assets, net
Long term loans and advances
Other non current assets
Total Non Current Assets
Current assets
Current investments
Inventories
Trade receivables
Cash and bank balances
Short term loans and advances
Other current assets
Total Current Assets
Total Assets

2012
2013
100.00%
100.00%
-2.22%
-2.59%
97.78%
97.41%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.44%
0.48%
98.21%
97.88%
0.00%
0.00%
54.66%
54.83%
0.81%
1.40%
2.05%
-2.17%
57.52%
54.06%
0.00%
0.00%
8.32%
7.75%
6.11%
4.49%
3.26%
3.08%
18.84%
18.40%
94.06%
87.77%
4.16%
10.11%
7.30%
0.00%
-3.15%
10.11%
0.00%
0.00%
-3.15%
10.11%
-2.17%
1.21%
-0.97%
8.91%
0.00%
1.21%
1507286.36% 1185025.59%

2014
100.00%
-2.18%
97.82%
0.00%
0.00%
0.00%
0.00%
1.03%
98.84%
0.00%
47.08%
1.33%
-0.49%
47.92%
0.00%
7.07%
3.97%
2.56%
16.42%
77.94%
20.90%
0.00%
20.90%
0.00%
20.90%
4.78%
16.12%
0.82%
907899.14%

2015
100.00%
-1.82%
98.18%
2.05%
0.00%
0.00%
0.00%
0.82%
99.00%
0.00%
47.55%
0.19%
-1.93%
45.81%
0.00%
8.11%
1.60%
2.97%
16.97%
75.47%
23.53%
0.00%
23.53%
0.00%
23.53%
5.14%
18.39%
2.19%
800500.68%

69.08%
11.92%
22.86%
21.85%
0 0.1359503216 0.0508066787 0.1190094635
73.09%
81.82%
84.55%
80.54%
206.57%
210.28%
203.50%
176.08%
307.00%
321.83%
244.76%
222.30%
430.65%
334.04%
281.80%
329.57%
33.44%
35.63%
25.59%
12.80%
32.09%
24.02%
27.98%
19.23%

2012
0.49%
41.13%
41.61%
0.00%
13.92%
0.06%
0.00%
0.07%
14.05%
0.00%
26.84%
9.76%
6.77%
0.96%
44.34%
100.00%
0.00%
0.00%
0.00%
27.15%
0.00%
9.31%
10.19%
0.00%
2.98%
0.00%
49.64%
0.00%
0.31%
20.35%
23.81%
0.23%
4.38%
1.28%
50.36%
100.00%

2013
0.43%
42.49%
42.92%
0.00%
15.29%
1.00%
0.00%
0.12%
16.42%
0.00%
25.47%
13.24%
1.00%
0.95%
40.66%
100.00%
0.00%
0.00%
0.00%
29.56%
0.00%
2.44%
10.40%
0.00%
4.25%
0.27%
46.92%
0.00%
0.00%
21.03%
25.42%
1.43%
4.05%
1.14%
53.08%
100.00%

2014
0.34%
46.59%
46.92%
0.00%
12.01%
2.39%
0.00%
0.10%
14.49%
0.00%
20.73%
14.38%
2.24%
1.24%
38.58%
100.00%
0.00%
0.00%
0.00%
22.54%
0.00%
2.37%
10.15%
0.00%
5.39%
0.19%
40.64%
0.00%
0.00%
19.91%
34.55%
0.37%
3.66%
0.87%
59.36%
100.00%

2015
0.29%
52.18%
52.46%
0.00%
6.71%
2.05%
0.00%
0.22%
8.99%
0.00%
21.58%
11.20%
4.93%
0.84%
38.55%
100.00%
0.00%
0.00%
0.00%
21.39%
0.00%
2.22%
9.70%
0.00%
4.09%
0.28%
37.69%
0.00%
0.19%
20.95%
36.23%
0.21%
3.92%
0.81%
62.31%
100.00%