SOURCES OF FUNDS

SHAREHOLDERS' FUNDS
Capital
Reserves and Surplus
LOAN FUNDS
Secured Loans
Unsecured Loans
DEFERRED TAX (Note 19 on Schedule 23)
Deferred Tax Liabilities
Deferred Tax Assets
Total
APPLICATION OF FUNDS
FIXED ASSETS
Gross Block
Less: Depreciation

SCHEDULES
1
2
3
4

Capital Work-In-Progress
INVESTMENTS
CURRENT ASSETS, LOANS AND ADVANCES
Inventories
Sundry Debtors
Cash and Bank Balances
Other Current Assets
Loans and Advances

6
7
8
9
10
11
12

LESS: CURRENT LIABILITIES AND PROVISIONS

Current Liabilities
Provisions

13
14

Net Current Assets

Total
SIGNIFICANT ACCOUNTING POLICIES
NOTES TO ACCOUNTS

22
23

AS AT 31.03.07

AS AT 31.03.08

AS AT 31.03.09

1,445
68,620

70,065

1,445
82,709

84,154

1,445
94,208

804
5,901

6,705

1
9,001

9,002

119
7,469

2,822
-1,110

62,102
-35,106
26,996
2,416

7,241
7,767
14,374
384
9,290
39,056

1,712
78,482

29,412
35,146

29,766

20,477
4,655
25,132

2,697
-996

72,853
-39,888
32,965
7,363

10,380
6,555
3,240
331
10,403
30,909

1,701
94,857

40,328
51,807

20,506

24,492
3,695
28,187
13,924
78,482

2,389
-791

89,041
-46,878
42,163
8,674

9,213
9,788
19,868
988
16,548
56,405
31,620
3,555
35,175

2,722
94,857

AS AT 31.03.09

AS AT 31.03.10

AS AT 31.03.11

95,653

1,445
120,381

121,826

1,445
141,643

143,088

7,588

362
8,693

9,055

426
4,115

4,541

1,598
104,839

50,837
32,772

39,857

2,299
-838

106,085
-54,372
51,713
3,922

12,276
8,494
1,627
883
15,952
39,232

1,461
132,342

55,635
73,968

23,280

30,260
6,233
36,493
21,230
104,839

2,600
-870

119,526
-62,808
56,718
14,987

14,384
9,502
25,281
1,700
14,037
64,904

1,730
149,359

71,705
54,392

50,867

36,466
5,176
41,642
2,739
132,342

23,262
149,359

SCHEDULE

For the year ended

31.03.07

INCOME
Gross Sales
15
less: Excise Duty
Net Sales
Income from Services [Net of expenses Rs 208 million (previous year Rs 705 million)]
Other Income
16
Total
EXPENDITURE
Consumption of Raw Materials and Components (Note 4 on Schedule 23)
Purchase of Traded Goods
Consumption of Stores
Employees Remuneration and Benefits
17
Manufacturing, Administrative and Other Expenses
18
Selling and Distribution Expenses
19
Total
Less: Vehicles/ Dies for Own Use
Add : (Increase) /Decrease to Work-in-progress and Finished Goods
21
and Spare Parts
Total
Earnings before interest, depreciation, tax and amortizations (EBIDTA)
Interest
20
Depreciation (Note 24 on Schedule 23)
5
Profit before Tax
Less : Tax Expense - Current Tax
- Deferred Tax (Note 19 on Schedule 23 )
Fringe Benefit Tax
Previous Years
Consoliated Profit after Tax
Share of Profit in respect of Investment in Associates
Profit after Tax
Add: Brought forward from previous year's accounts
Less: Loss of Maruti Suzuki Automobile India Limited adjusted on amalgamation
Less: Impact of transition adjustment for 'Employee Benefit'
Profit available for appropriation
Less: Appropriation :
Debenture Redemption Reserve
General Reserve
Proposed Dividend
Corporate Dividend Tax
Balance carried forward to Balance Sheet
Basic/Diluted Earnings Per Share (in Rupees) (Note 18 on Schedule 23)
SIGNIFICANT ACCOUNTING POLICIES
22
NOTES TO ACCOUNTS
23

172,935
25,718
147,217
667
7,010
154,894
102,435
6,224
1,097
2,965
8,990
5,010
126,721
143
1,994
128,572
26,322
404
2,755
3,159
23,163
6,184
903
69
124
15,883
15,883
45,107
25
4
60,961
17
1,562
1,300
219
57,863
54.98

For the year ended

31.03.08

For the year ended

31.03.09

For the year ended

31.03.10

211,333
31,125
180,208
833
9,363
190,404

233,076
27,497
205,579
1,043
11,148
217,770

321,805
28,777
293,028
2,887
10,344
306,259

131,694
7,821
1,470
3,644
10,923
6,135
161,687
198
-2,909
158,580
31,824
625
5,727
6,352
25,472
7,657
32
100
89
17,594
305
17,899
57,863
75,762

152,274
7,323
1,982
4,813
16,024
8,044
190,460
223
2,810
193,047
24,723
545
7,165
7,710
17,013
4,754
-114
97 -

217,725
9,124
2,454
5,605
18,141
9,990
263,039
296
-1,941
260,802
45,457
374
8,414
8,788
36,669
11,455
-236

12,317
-43
12,274
72,338

25,450
797
26,247
82,210

84,612

108,457

1,219
1,011
172
82,210
42.48

2,498
1,733
288
103,938
90.85

1,731
1,445
248
72,338
61.95

For the Year ended

31.03.2011
409,489
43,377
366,112
2,005
12,537
380,654
276,723
12,875
3,338
7,255
29,536
9,873
339,600
257
-640
338,703
41,951
288
10,313
10,601
31,350
8,183
96

23,071
753
23,824
103,938

127,762

2,289
2,167
351
122,955
82.46

2007

2008

2009

2010

2011

Liquidity Ratios
1 Current Ratio

1.453631 0.837253

2 Quick ratio

0.746398

-0.01037 0.677767

-0.04204 0.606017

3 Net Working Capital To Sales Ratio

0.053714

-0.01886

-0.02169 0.035168

3 Cash ratio

0.701958 0.132288 0.628336 0.053767 0.693276

Profitability ratio
1 Operating income to sales

0.178797 0.176596

1.2605 0.769332 1.394916

0.03534

0.12026 0.155129 0.114585

2 Return on assets

0.84511 1.015455 0.766584 1.095618 0.900051

3 Return on equity

40.0436

50.0609 56.89273 71.92941 85.08997

4 Gross profit margin

0.895678 0.900967

5 Net profit margin

0.334594 0.342294 0.352718 0.322984 0.300264

6 RONA

1.967326 1.793741 1.617129 1.868212 1.714734

7 ROCE

0.894941 0.789129 0.486319 0.817058

Activity Ratio
1 Total asset turnover

2.525778 2.966618 2.173365

2 Fixed assets turnover

5.879743 5.240354 4.584771 5.784219 5.710745

Leverage Ratios
1 Debt Ratio

0.367062 0.395679 0.327996 0.384675 0.304826

2 Debt to Equity Ratio

17.39239 19.50657 24.34256 25.25467 28.81799

3 Times Interest Earned

65.15347

4 Total debt to asset ratio

0.097929 0.126367 0.070756 0.095449 0.033241

5 Long-term debt to asset ratio

0.011743

6 Total debt to equity ratio

4.640138 6.229758 5.251211 6.266436 3.142561

7 Equity multiplier
8 Time-interest-coverage ratio

50.9184

1.4E-05

0.93433 0.951691 0.929583

50.9184

3.39217 2.997526

45.3633 121.5428 145.6632

0.00111 0.003816 0.003118

47.3827 49.29896 74.21592

65.15347

0.58505

65.6519

94.5391

45.3633 121.5428 145.6632

The standard ratio for Current ratio is 2:1. hence,In 2007 ratio is 1.4:1 which mean C.A is better than C.L, whereas In 2008 0.8
Since 2007-2011 The ratio is below than 1, which means liquidity of assets is not so good in comparision to liabilities.

.L, whereas In 2008 0.8:1 reflects that C.A is weaker than C.L. Again In 2009 ratio is 1.2:1, which means C.A is better than C.L . Now again

on to liabilities.

C.A is better than C.L . Now again In 2010 ratio is 0.7:1 Which means C.A weaker than C.L. In 2011 ratio is 1.4:1 Which mean C.A is better t

s 1.4:1 Which mean C.A is better than C.L.