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Ratio Analysis

Tata Tea Limited


Year 2007
Year ending on,31st Marc
Rs. in Lakhs

Liquidity Ratios
1 Current ratio: Current assets / Current Liabilities
CA:Current assets,Loans and advances
38696.27
CL:Current liabilities and provisions
33288.7
(CA/CL)
1.16
2 Quick ratio or Acid test ratio: (Current assets-inventories)/ Current Liabilities
CA:Current assets,Loans and advances
38696.27
Less:In:Inventories
18000.8
20695.47
CL:Current liabilities and provisions
33288.7
(CA-In)/(CL)
0.62
3 Cash ratio or Absolute liquidity ratio: (Cash +Marketable securities)/Current
Ca: Cash and bank Balances
2153.12
Add: Marketable securities (Ms)
0
2153.12
CL:Current liabilities and provisions
33288.7
(Ca+Ms)/(CL)
0.06
Solvency Ratios
4 Debt equity ratio: Long term debt/ equity (net worth)
Lf:Loan funds
79699.87
Sf:Shareholders funds
156555.77
(Lf)/(Sf)
0.51
5 Debt ratio: debt (long term)/ (debt (long term) + equity) or debt/capital emplo
Lf:Loan funds
79699.87
Sf:Shareholders funds
156555.77
(Lf)+(Sf)
236255.64
(Lf)/(Lf+Sf)
0.34
6 Interest Coverage ratio : (earnings before interest and tax) / Interest
Profit Before Tax (PBT)
34976.66
Add:Interest (Net) (I)
1162.52
PBIT
36139.18
(PBIT/I)
31.09

Turnover Ratios
7 Inventory turnover: Cost of goods sold or net sales/Average (or closing) inve
Sales and Services- Net (NS)
105447.32
E:Expenditure
NA
Add:Excise Duty
NA
Less:Interest
NA
Cost of good sold [C]
NA
Inventories (In)
18000.8
(C or Ns)/In
5.86
8 Days of Inventory holding: Number of days in the year (say 360)/ Inventory tu
Number of days in a year
360
Inventories turnover ratios
5.86
(360)/(ITR)
61.45
9 Debtors turnover ratio: Credit sales or net sales/ Average (or closing) debtor
S: Net Sales
105447.32
D:Debtors
6485.86
S/D
16.26
10 Collection period: Number of days in the year (say 360)/ Debtors turnover
Number of days in the year
360
Debtors turnover
16.26
(360)/(DTR)
22.14
11 Current assets turnover: Net sales/ Current assets
S: Net Sales
105447.32
CA:Current assets,Loans and advances
38696.27
S/CA
2.72
12 Net current assets turnover: Net sales/ Net current assets
S: Net Sales
105447.32
Net Current Assets
5407.57
S/(NCA)
19.5
13 Fixed assets turnover: Net sales/ Net fixed assets
S: Net Sales
105447.32
FA:Net Fixed Assets
24658.04
S/FA
4.28
14 Net assets turnover: Net sales/ Net assets or capital employed : (Net assets =
S: Net Sales
105447.32
FA:Net Fixed Assets
24658.04

Inv: Investments
204591.81
Net Current assets
5407.57
Net assets
234657.42
(P/L:IB)/(NA)
0.45
Profitability Ratios
15 Profit Margin: (Profit before interest and tax (PBIT)/ Net sales)100
PBIT
36139.18
S: Net Sales
105447.32
(PBIT/S)x100
34.27
16 Net margin: Profit after tax (PAT) 100 / Net sales
PAT:Profit after taxation
30656.66
S:Net Sales
105447.32
(PAT/S)X100
29.07
17 Before tax return on investment: (PBIT/Net assets) 100
PBIT
36139.18
FA:Net Fixed Assets
24658.04
Inv: Investments
204591.81
Net Current assets
5407.57
Net assets
234657.42
(PBIT)/(NA)100
15.4
18 Return on equity: (PAT/Equity (net worth)) 100
PAT:Profit after taxation
30656.66
Sf:Shareholders funds
156555.77
(PAT)/(Sf)100
19.58
Equity-related Ratios
19 Earning per share (EPS): PAT/Number of ordinary shares
PAT:Profit after taxation (In Unit Rs.)
3065666000
Number of Equity Shares (N)
57236000
(PAT)/(N)
53.56
20 Dividends per share (DPS): Dividends/ Number of ordinary shares
PD:Proposed Dividend (In Unit Rs.)
927599000
Number of Equity Shares (N)
57236000
(PD)/(N)
16.21
Dividend per share declared by the company
15
21 Pay out ratios: (DPS/EPS)x100 or (Dividends/PAT)x100
DPS
15

EPS
53.56
(DPS)x100/(EPS)
28.01
22 Dividend Yield: (DPSx100)/Market value per share
DPS
15
Market Value per share (Average)**1
740.39
(DPSx100)/Market value per share
2.03
23 Price/Earning ratio: Market value per share/ EPS
Market Value per share (Average)**1
740.39
EPS
53.56
Market Value per share/EPS
13.82
24 Earning Yield: (EPSx100)/ Market value per share
EPS
53.56
Market Value per share (Average)**1
740.39
(EPSx100)/ Market value per share
7.23
25 Book value per share: Net worth/ Number of ordinary shares
Sf:Shareholders funds (In Unit Rs.)
15655577000
Number of Equity Shares (N)
57236000
((Sf)/(N))
273.53
Declared by the company:Book value
261.51
per Share (Rs.)*Computation excludes Investment Revaluation Reserves.
Investment-related Ratios
26 Return on assets or earning power (ROA): (PAT/ Average total assets (of the
PAT:Profit after taxation
30656.66
Fixed assets (Current Year)
24658.04
Investments (Current Year)
204591.81
Current assets (Current Year)
38696.27
Fixed assets (Last Year)
25031.35
Investments (Last Year)
110683.44
Current assets (Last Year)
30661.76
Average total assets
72387.11
(PAT/ATA)100
42.35
27 Return on capital employed (ROCE): (EBIT(PBIT)/ Capital employed) 100
PAT:Profit after taxation
30656.66
Sf:Shareholders funds
156555.77
(PAT)/(Sf)100
19.58
Other Ratios
28 ROOSE (return on ordinary shareholders equity) / RONW (return on net wort

PAT:Profit after taxation


Sf:Shareholders funds
(PAT)/(Sf)100
29 Du Pont analysis
Interest Charges
Corporate Income tax
Cost of goods sold
Operating Expenses
Net sales+/-non operating surplus/deficit
Total Costs
Net Profit after tax
Net sales
Net Profit margin

30656.66
156555.77
19.58

30656.66
105447.32
29.07

Inventories
Other Current assets
Cash bank and marketable securities
Receivables
Current Assets
Fixed Assets
Total Assets
Net sales
Total Assets turnover

38696.27
25031.35
63727.62
105447.32
1.65

Return on Total assets


30 Operating Expenses Ratio
Operating Expenses (Annual Report Page 74)
Expenditure (E)
Less:Interest (I)
Less:Depreciation (D)
E-(I+D)
Net Sales (S)
(Operating Expenses or (E-(I+D)))x100 /S

48.11

25892.11
NA
NA
NA
NA
105447.32
24.55

**1

Tata Tea Companys Share Price


As on 3rd April, 2006
As on 30th March 2007
Average Price
Tata Tea Companys Share Price
As on 1st April, 2005
As on 31st March 2006
Average Price
GoodRick Stock Price Data:Year 2006(In Rs.)
Month
January
February
March
April
May
June
July
August
September
October
November
December
Total
Average Price

NSE
875
607.35
740.39
NSE
540
866.9
714.67

The BombayStock Exchan


High
74.55
129.95
145.25
119.95
123
91.9
76.75
102.9
101.4
90.65
95.9
89.9
1242.1
2124.2/24=

ea Limited
Year 2006
nding on,31st March
Rs. in Lakhs

Goodricke Group Ltd.


Year 2006
Year 2005
Year ending on,31st December
Rs.

Year 2007

30661.76
27237.79
1.13
Current Liabilities
30661.76
13956.85
16704.91
27237.79
0.61
curities)/Current liabilities
661.97
0
661.97
27237.79
0.02

971,868,580
372,003,451
2.61

1,012,034,480
390,040,222
2.59

times

971,868,580
481,118,763
490,749,817
372,003,451
1.32

1,012,034,480
506,135,998
505,898,482
390,040,222
1.3

times

36,136,577
0
36136577
372,003,451
0.1

23,546,199
0
23546199
390,040,222
0.06

times

24135.74
116126.51
0.21
ebt/capital employed
24135.74
116126.51
140262.25
0.17
Interest
23052.02
896.59
23948.61
26.71

317,576,895
694,352,890
0.46

384,738,816
670,156,381
0.57

times

317,576,895
694,352,890
1011929785
0.31

384,738,816
670,156,381
1,054,895,197
0.36

times

76,431,890
30,043,900
106,475,790
3.54

45,297,738
31,179,900
76,477,638
2.45

times

e (or closing) inventory.


96820.86
NA
2,201,211,258 2,111,916,728
NA
984,182
2,104,377
NA
30,043,900
31,179,900
NA
2,172,151,540 2,082,841,205
13956.85
481,118,763
506,135,998
6.94
4.51
4.12
times
360)/ Inventory turnover ratio.
360
360
360
6.94
4.52
4.12
51.9
79.73
87.48
Days
or closing) debtors (or accounts receivable (total debtors +bills receivable)
96820.86 2,212,835,693 2,098,444,640
5022.14
181,239,494
196,208,815
19.28
12.21
10.69
times
btors turnover
360
360
360
19.28
12.22
10.71
18.67
29.47
33.63
Days
96820.86
30661.76
3.16

2,212,835,693
971,868,580
2.28

2,098,444,640
1,012,034,480
2.07

times

96820.86
3423.97
28.28

2,212,835,693
599,865,129
3.69

2,098,444,640
621,994,258
3.37

times

96820.86 2,212,835,693 2,098,444,640


25031.35
451,841,662
476,341,614
3.87
4.9
4.41
yed : (Net assets = all assets accumulated depreciation)
96820.86 2,212,835,693 2,098,444,640
25031.35
451,841,662
476,341,614

times

110683.44
3423.97
139138.76
0.7

470,116
599,865,129
1,052,176,907
2.1

470,116
621,994,258
1,098,805,988
1.91

times

23948.61
96820.86
24.73

106475790
2,212,835,693
4.81

76477638
2,098,444,640
3.64

18693.28
96820.86
19.31

54,983,259
2,212,835,693
2.48

37,583,581
2,098,444,640
1.79

23948.61
25031.35
110683.44
3423.97
139138.76
17.21

106475790
451,841,662
470,116
599,865,129
1052176907
10.12

76477638
476,341,614
470,116
621,994,258
1098805988
6.96

18693.28
116126.51
16.1

54,983,259
694,352,890
7.92

37,583,581
670,156,381
5.61

1869328000
56219857
33.25

54,983,259
21,600,000
2.55

37,583,581
21,599,759
1.74

674639000
56219857
12
12

27,000,000
21,600,000
1.25

16,200,000
21,599,759
0.75

12

1.25

0.75

3.58 Rs

Rs
Rs

33.25
36.09

2.55
49.12

1.74
43.1

12
714.67
1.68

1.25
88.51 NA
1.41 NA

0.75

714.67
33.25
21.49

88.51 NA
2.55
34.78 NA

33.25
714.67
4.65

2.55
88.51 NA
2.88 NA

11612651000
56219857
206.56
202.67

694,352,890
21,600,000
32.15
32.15

1.74
times
1.74
%
670,156,381
21,599,759
31.03
31.03

Rs
31.97 Rs

otal assets (of the given years, here 1998&97)) 100 or ((PAT+ Interest)/Average fixed assets)
18693.28
54,983,259
37,583,581
25031.35
451,841,662
476,341,614
110683.44
470,116
470,116
30661.76
971,868,580 1,012,034,480
30268.7
476,341,614 NA
86586.32
470,116 NA
26596.6 1,012,034,480 NA
51638.03
485504428 NA
36.2
11.32 NA
%
mployed) 100
18693.28
54,983,259
37,583,581
116126.51
694,352,890
670,156,381
16.1
7.92
5.61
%

eturn on net worth): ((PAT-preferential dividends)/Net worth) 100

18693.28
116126.51
16.1

54,983,259
694,352,890
7.92

37,583,581
670,156,381
5.61

18693.28
96820.86
19.31

54,983,259
2,212,835,693
2.48

37,583,581
2,098,444,640
1.79

30661.76
30268.7
60930.46
96820.86
1.59

971,868,580
451,841,662
1423710242
2,213,819,875
1.55

1,012,034,480
476,341,614
1488376094
2,100,549,017
1.41

times

30.68

3.86

2.53

2,201,211,258
30,043,900
54,718,455
2,116,448,903
2,212,835,693
95.64

2,111,916,728
31,179,900
55,322,439
2,025,414,389
2,098,444,640
96.52

22840.15
NA
NA
NA
NA
96820.86
23.59

BSE

CSE
874.8
607.85

BSE

870
607.35
CSE

527
867.95

mbayStock Exchange Ltd. (BSE)


Low
Total
65.05
64.5
95.2
90.55
75.3
60.05
55
62
84
79.65
78.5
72.3
882.1
88.51

526.15
960

2124.2

Average fixed assets) 100