Kalpana Sweety

11.Bajaj Auto Ltd.
- Research Center
Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
19,516.65
16,451.80
11,813.25
8,700.17
8,827.15
14,486.09
11,882.51
8,139.51
6,526.59
6,692.19
Manufacturing expenses
175.61
148.38
127.89
117.97
122.92
Personnel expenses
541.04
494.33
411.76
366.67
350.09
Selling expenses
270.53
445.98
381.59
345.48
351.70
Administrative expenses
356.90
242.61
264.88
263.49
248.08
Expenses capitalized
-49.43
-16.66
-15.67
-14.42
-23.04
15,780.74
13,197.15
9,309.96
7,605.78
7,741.94
3,735.91
3,254.65
2,503.29
1,094.39
1,085.21
355.73
408.16
151.12
163.90
250.40
4,091.64
3,662.81
2,654.41
1,258.29
1,335.61
22.24
1.69
5.98
21.01
5.16
145.62
122.84
136.45
129.79
173.96
2.14
2.14
1.12
Adjusted PBT
3,921.64
3,536.14
2,511.98
1,107.49
1,155.37
Tax charges
1,022.12
1,011.02
710.12
301.61
378.78
Income
Operating income
Expenses
Material consumed
Cost of sales
Operating profit
Other recurring income
Adjusted PBDIT
Financial expenses
Depreciation
Other write offs
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
2,899.52
2,525.12
1,801.86
805.88
776.59
Non recurring items
57.93
767.84
-128.62
-170.10
-80.13
Other non cash adjustments
46.60
46.77
26.87
18.72
59.32
Reported net profit
3,004.05
3,339.73
1,700.11
654.50
755.78
Earnings before appropriation
5,519.53
4,194.72
1,700.11
654.50
755.78
Equity dividend
1,302.15
1,157.47
578.73
318.30
289.37
211.24
187.77
96.12
54.10
49.18
4,006.14
2,849.48
1,025.26
282.10
417.23
Adjusted PAT
Preference dividend
Dividend tax
Retained earnings
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
289.37
289.37
144.68
144.68
144.68
Share application money
Preference share capital
5,751.70
4,620.85
23.53
Sources of funds
Owner's fund
Equity share capital
Reserves & surplus
2,783.66 1,725.01 1,442.91
Loan funds
Secured loans
12.98
6.95
Mar ' 12
Mar ' 11
97.48
301.62
1,325.60 1,570.00 1,327.39
6,138.55
5,235.37
4,266.92 3,439.69 2,921.93
3,425.94
3,395.16
3,379.25 3,350.20 2,994.68
Less : accumulated depreciation
1,914.33
1,912.45
1,899.66 1,807.91 1,726.07
Net block
1,511.61
1,482.71
1,479.59 1,542.29 1,268.61
343.15
149.34
4,882.81
4,795.20
4,021.52 1,808.52 1,857.14
Current assets, loans & advances
4,501.40
5,358.19
3,111.75 2,401.45 1,780.67
Less : current liabilities & provisions
5,100.42
6,550.07
4,466.78 2,602.35 2,019.23
Unsecured loans
Total
Mar ' 10
Mar ' 09
Mar ' 08
Uses of funds
Fixed assets
Gross block
Less : revaluation reserve
Capital work-in-progress
Investments
120.84
106.48
34.74
Net current assets
Total net current assets

Miscellaneous expenses not written
Total
-599.02 -1,191.88 -1,355.03

-
-200.90
-238.56
183.30
6,138.55
5,235.37
4,266.92 3,439.69 2,921.93
1,786.39
1,658.50
2,573.36
Notes:
Book value of unquoted investments
765.42
627.60
Mar ' 12
Mar ' 11
Mar ' 10
Market value of quoted investments
2,999.50
3,110.73
Contingent liabilities
1,445.67
959.66
818.25
Number of equity sharesoutstanding (Lacs)
2893.67
2893.67
1446.84
Mar ' 09
Mar ' 08
1,484.81 1,083.15 1,256.57

924.96 1,129.29
1446.84
1446.84
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 07
Profit before tax
4,026.17
4,350.75
2,411.13
958.09
1,728.05
Net cash flow-operating activity
2,959.91
2,013.72
2,737.11
411.49
681.73
-445.44
-1,096.64
-2,163.62
-207.66
-429.99
-1,564.38
-862.00
-608.95
-123.03
-250.35
Net inc/dec in cash and equivalent
950.09
55.08
-35.46
80.80
1.39
Cash and equivalent begin of year
228.74
101.41
136.87
56.07
82.09
1,178.83
156.49
101.41
136.87
83.48
Net cash used in investing activity

Net cash used in fin. activity
Cash and equivalent end of year

Dividend
Year
Month
Dividend (%)
2012
May
450
2011
May
400
2010
May
400
2009
May
220
Year
Month
Dividend (%)
2008
May
200
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2011
2012
Equity
Share
300.00
289.37
289367020
10
289.37
2010
2011
Equity
Share
300.00
289.37
289367020
10
289.37
2009
2010
Equity
Share
150.00
144.68
144683510
10
144.68
2008
2009
Equity
Share
150.00
144.68
144683510
10
144.68
2007
2008
Equity
Share
150.00
144.68
144683510
10
144.68
2006
2007
Equity
Share
150.00
101.18
101183510
10
101.18
2005
2006
Equity
Share
150.00
101.18
101183510
10
101.18
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
100.20
87.26
124.54
55.70
53.67
Adjusted cash EPS (Rs)
105.31
91.58
133.97
64.67
65.78
Reported EPS (Rs)
103.81
115.42
117.69
45.37
52.25
Reported cash EPS (Rs)
108.92
119.73
127.12
54.34
64.35
45.00
40.00
40.00
22.00
20.00
Per share ratios
Dividend per share
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Operating profit per share (Rs)
129.11
112.47
173.02
75.64
75.01
Book value (excl rev res) per share (Rs)
208.77
169.69
202.40
116.56
109.73
Book value (incl rev res) per share (Rs.)
208.77
169.69
202.40
116.56
109.73
Net operating income per share (Rs)
674.46
568.54
816.49
601.32
610.10
Free reserves per share (Rs)
198.77
158.97
190.09
106.56
99.73
Operating margin (%)
19.14
19.78
21.19
12.57
12.29
Gross profit margin (%)
18.39
19.03
20.03
11.08
10.32
Net profit margin (%)
15.11
19.80
14.23
7.40
8.32
Adjusted cash margin (%)
15.33
15.71
16.20
10.55
10.48
Adjusted return on net worth (%)
47.99
51.42
61.53
47.78
48.91
Reported return on net worth (%)
49.72
68.01
58.14
38.92
47.61
Return on long term funds (%)
64.24
69.67
59.19
35.36
39.71
Long term debt / Equity
0.01
0.03
0.45
0.70
0.84
Total debt/equity
0.01
0.06
0.45
0.83
0.84
98.41
93.78
68.62
54.35
54.33
3.43
4.85
3.50
2.60
2.95
Profitability ratios
Leverage ratios
Owners fund as % of total source

Fixed assets turnover ratio
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Current ratio
0.88
0.81
0.69
0.92
0.88
Current ratio (inc. st loans)
0.88
0.79
0.69
0.84
0.88
Quick ratio
0.71
0.70
0.55
0.73
0.64
30.97
32.80
28.87
28.64
29.33
Dividend payout ratio (net profit)
50.37
40.27
39.63
56.72
44.78
Dividend payout ratio (cash profit)
48.01
38.82
36.69
47.36
36.36
Earning retention ratio
47.81
46.73
62.55
53.79
56.41
Cash earnings retention ratio
50.34
49.24
65.19
60.20
64.43
0.03
0.12
0.69
1.68
1.40
Financial charges coverage ratio
183.98
2,167.34
443.88
59.89
258.84
Fin. charges cov.ratio (post tax)
142.72
2,051.12
308.56
38.42
181.43
74.70
72.72
69.30
74.73
76.58
1.38
2.71
3.23
3.97
3.98
33.95
27.74
27.67
30.82
23.53
Import comp. in raw mat. consumed
4.40
4.06
3.59
2.35
2.37
Long term assets / total Assets
0.59
0.54
0.64
0.59
0.63
Liquidity ratios
Inventory turnover ratio

Payout ratios
Coverage ratios
Adjusted cash flow time total debt
Component ratios
Material cost component (% earnings)
Selling cost Component
Exports as percent of total sales
Bonus component in equity capital (%)
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
89.45
89.45
78.91
78.91
78.91
12.Bharti Airtel Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
41,603.80
38,015.80
35,609.54
34,048.32
25,761.11
18.30
244.10
313.63
281.65
33.85
17,171.10
14,204.20
11,882.41
8,627.13
7,339.01
Personnel expenses
1,337.90
1,304.50
1,401.66
1,397.54
1,297.88
Selling expenses
2,893.30
3,180.20
2,404.91
2,210.43
1,842.51
Adminstrative expenses
6,458.70
5,680.00
5,982.64
8,608.03
4,588.53
-293.31
-269.25
Cost of sales
27,879.30
24,613.00
21,691.93
20,855.54
15,101.78
Operating profit
13,724.50
13,402.80
13,917.61
13,192.78
10,659.34
245.60
154.90
148.98
235.99
266.91
13,970.10
13,557.70
14,066.60
13,428.77
10,926.24
Financial expenses
1,199.30
296.70
283.35
434.16
393.43
Depreciation
5,916.00
4,193.70
3,890.08
3,206.28
3,166.58
417.90
207.84
178.82
266.07
Income
Operating income
Expenses
Material consumed
Expenses capitalised

Adjusted PBDIT
Other write offs
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted PBT
6,854.80
8,649.40
9,685.32
9,609.50
7,100.16
Tax charges
1,226.20
1,007.60
1,177.87
321.78
632.43
Adjusted PAT
5,628.60
7,641.80
8,507.45
9,287.72
6,467.73
Non recurring items
83.90
63.30
969.48
-1,497.74
-162.87
17.50
11.80
-50.78
-46.15
-60.67
5,730.00
7,716.90
9,426.15
7,743.84
6,244.19
39,212.00
34,495.40
27,928.98
19,541.05
11,778.12
379.80
379.80
379.79
379.65
61.60
60.10
64.54
64.52
38,770.60
34,055.50
27,484.65
19,096.89
11,778.12
Reported net profit

Earnigs before appropriation
Equity dividend
Preference dividend
Dividend tax
Retained earnings
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
1,898.80
1,898.80
1,898.77
1,898.24
1,897.91
278.60
186.09
116.22
57.63
47,528.70
41,932.10
34,650.19
25,627.38
18,283.82
Sources of funds
Owner's fund
Reserves & surplus
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
2.90
17.10
39.43
51.73
52.42
Unsecured loans
14,126.50
11,880.40
4,999.49
7,661.92
6,517.92
Total
63,556.90
56,007.00
41,773.97
35,355.48
26,809.71
70,450.30
61,437.50
44,212.53
37,266.70
28,115.65
2.10
2.10
2.13
2.13
2.13
26,466.00
20,736.70
16,187.56
12,253.34
9,085.00
Net block
43,982.20
40,698.70
28,022.84
25,011.23
19,028.52
1,072.50
6,497.60
1,594.74
2,566.67
2,751.08
12,337.80
11,813.00
15,773.32
11,777.76
10,952.85
23,957.90
13,730.10
9,225.08
10,466.63
8,439.38
17,842.70
16,732.40
12,842.00
14,466.89
14,362.33
6,115.20
-3,002.30
-3,616.92
-4,000.26
-5,922.95
49.20
0.09
0.20
63,556.90
56,007.00
41,773.97
35,355.48
26,809.71
11,807.10
11,708.00
11,619.95
9,898.56
9,379.62
Loan funds
Secured loans
Uses of funds
Fixed assets
Gross block
Investments
Net current assets

Total
Notes:
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
533.40
105.10
4,216.67
1,887.76
1,574.29
54,653.50
49,771.40
3,921.50
4,104.25
7,140.59
Number of equity shares outstanding (Lacs)
37975.30
37975.30
37975.30
18982.40
18979.07
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
6,956.20
8,725.80
10,699.25
8,161.54
6,972.54
11,437.80
13,215.40
12,692.63
11,853.15
10,459.85
-12,611.80
-19,075.00
-10,601.66
-10,894.38
-11,648.41
1,400.80
5,646.50
-2,539.32
-672.00
898.03
226.80
-213.10
-448.35
286.77
-290.53
128.00
341.50
789.88
503.31
793.47
354.80
128.40
341.53
790.08
502.94
Profit before tax
Dividend
Year
Month
Dividend (%)
2012
May
20
2011
May
20
2010
Apr
20
2009
Apr
20
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2011
2012
Equity
Share
2,500.00
1,898.77
3797530096
1,898.77
2010
2011
Equity
Share
2,500.00
1,898.77
3797530096
1,898.77
2009
2010
Equity
Share
2,500.00
1,898.77
3797530096
1,898.77
2008
2009
Equity
Share
2,500.00
1,898.24
1898239796
10
1,898.24
2007
2008
Equity
Share
2,500.00
1,897.91
1897907446
10
1,897.91
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
14.82
20.12
22.40
48.93
34.08
30.40
32.27
33.19
66.76
52.16
Reported EPS (Rs)
15.09
20.32
24.82
40.79
32.90
30.67
32.46
35.61
58.63
50.99
1.00
1.00
1.00
2.00
36.14
35.29
36.65
69.50
56.16
130.03
115.42
96.24
145.01
106.34
130.03
115.43
96.25
145.02
106.35
Per share ratios
Dividend per share
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
109.55
100.11
93.77
179.37
135.73
117.68
103.84
84.64
121.78
83.18
32.98
35.25
39.08
38.74
41.37
18.76
24.22
28.15
29.33
29.08
13.69
20.21
26.36
22.58
23.99
27.58
32.10
35.25
36.96
38.03
11.39
17.43
23.27
33.74
32.04
11.60
17.60
25.79
28.13
30.94
13.96
16.89
24.36
29.01
28.52
0.16
0.20
0.11
0.25
0.30
Total debt/equity
0.28
0.27
0.13
0.28
0.32
77.76
78.65
87.88
78.11
75.43
0.69
0.82
0.87
0.99
1.03
Current ratio
1.34
0.82
0.71
0.72
0.58
1.01
0.70
0.68
0.69
0.56
Quick ratio
1.28
0.77
0.71
0.64
0.55
1,296.07
1,105.11
1,307.05
547.83
453.06
Leverage ratios
Liquidity ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
7.70
5.70
4.71
5.73
3.79
3.56
3.28
3.99
92.16
94.25
94.78
95.22
100.00
96.18
96.41
96.48
96.50
100.00
1.22
0.97
0.39
0.60
0.66
11.65
45.69
49.64
30.93
27.77
10.71
42.55
48.73
26.63
25.60
0.03
0.66
0.78
0.84
0.16
6.95
8.36
6.75
6.49
7.15
4.83
4.77
5.03
5.31
6.00
0.60
0.76
0.81
0.77
0.77
82.49
82.49
82.49
82.51
82.53
Payout ratios
Coverage ratios
Component ratios
13.Bharat Heavy Electricals Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
47,730.59
42,022.76
33,226.25
26,614.36
19,541.08
24,289.92
19,760.10
16,966.09
14,435.89
9,573.36
4,340.46
3,885.62
3,318.24
2,427.88
1,737.65
Personnel expenses
5,465.83
5,396.71
6,449.17
2,991.27
2,602.30
417.11
352.76
291.76
238.55
3,831.25
4,028.52
143.69
2,285.58
1,642.62
37,927.46
33,488.06
27,229.95
22,432.38
15,794.48
Operating profit
9,803.13
8,534.70
5,996.30
4,181.98
3,746.60
1,265.55
931.38
1,101.11
989.51
1,068.38
11,068.68
9,466.08
7,097.41
5,171.49
4,814.98
51.28
54.73
33.50
30.71
35.42
800.00
475.61
458.01
334.27
297.21
10,217.40
8,935.74
6,605.90
4,806.51
4,482.35
3,262.30
3,088.13
2,326.35
1,799.31
1,565.06
Income
Operating income
Expenses
Material consumed
Selling expenses
Administrative expenses
Expenses capitalized
Cost of sales
Adjusted PBDIT
Financial expenses
Depreciation
Other write offs
Adjusted PBT
Tax charges
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
6,955.10
5,847.61
4,279.55
3,007.20
2,917.29
83.93
-15.38
34.37
-45.26
-19.25
79.66
46.47
96.64
-12.69
Reported net profit
6,935.85
6,011.20
4,310.64
3,138.21
2,859.34
7,747.71
6,586.59
4,906.10
3,567.90
3,302.06
Equity dividend
1,566.47
1,524.85
1,140.58
832.18
746.52
254.12
249.88
191.51
141.43
126.87
5,927.12
4,811.86
3,574.01
2,594.29
2,428.67
Adjusted PAT
Non recurring items
Preference dividend
Dividend tax
Retained earnings
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
489.52
489.52
489.52
489.52
489.52
24,883.69
19,664.32
15,427.84
12,449.29
10,284.69
123.43
163.35
127.75
149.37
95.18
Sources of funds
Owner's fund
Reserves & surplus
Loan funds
Secured loans
Unsecured loans
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
25,496.64
20,317.19
16,045.11
13,088.18
10,869.39
9,729.62
8,049.30
6,579.70
5,224.43
4,443.03
5,409.83
4,648.82
4,164.74
3,754.47
3,462.21
Net block
4,319.79
3,400.48
2,414.96
1,469.96
980.82
1,324.63
1,762.62
1,550.49
1,212.70
658.47
461.67
439.17
79.84
52.34
8.29
60,669.93
61,214.87
44,515.53
38,743.86
33,463.46
41,279.38
46,499.95
32,515.71
28,390.68
24,241.65
19,390.55
14,714.92
11,999.82
10,353.18
9,221.81
25,496.64
20,317.19
16,045.11
13,088.18
10,869.39
461.67
439.17
79.84
52.34
8.29
2,424.33
2,324.26
2,538.13
2,546.25
1,673.19
24476.00
4895.20
4895.20
4895.20
4895.20
Total
Uses of funds
Fixed assets
Gross block
Investments
Net current assets
Total
Notes:
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
10,302.26
9,005.67
6,590.65
4,848.85
4,430.39
-813.57
2,658.62
1,585.06
3,291.20
3,477.90
-329.70
-1,342.82
-966.64
-512.82
-12.54
-1,814.90
-1,475.73
-1,143.01
-849.73
-888.25
-2,958.17
-159.93
-524.59
1,928.65
-2,577.11
9,630.15
9,790.08
10,314.67
8,386.02
8,386.02
6,671.98
9,630.15
9,790.08
10,314.67
5,808.91
Profit before tax
Dividend
Year
Month
Dividend (%)
2012
May
184
2012
Feb
136
2011
May
179
2011
Mar
133
2010
May
123
2010
Jan
110
2009
May
80
2009
Jan
90
2008
May
63
2008
Jan
90
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2011
2012
Equity
Share
2,000.00
489.52
2447600000
489.52
2010
2011
Equity
Share
2,000.00
489.52
489520000
10
489.52
2009
2010
Equity
Share
2,000.00
489.52
489520000
10
489.52
2008
2009
Equity
Share
2,000.00
489.52
489520000
10
489.52
2007
2008
Equity
Share
2,000.00
489.52
489520000
10
489.52
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
28.42
119.46
87.42
61.43
59.59
31.68
129.17
96.78
68.26
65.67
Reported EPS (Rs)
28.76
122.80
88.06
64.11
58.41
32.03
132.51
97.41
70.94
64.48
6.40
31.15
23.30
17.00
15.25
40.05
174.35
122.49
85.43
76.54
103.67
411.71
325.16
264.32
220.10
103.67
411.71
325.16
264.32
220.10
195.01
858.45
678.75
543.68
399.19
Per share ratios
Dividend per share
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
401.65
315.11
254.23
209.99
20.53
20.30
18.04
15.71
19.17
18.86
19.17
16.66
14.45
17.65
14.36
13.99
12.55
11.36
13.87
15.82
14.72
13.80
12.10
15.59
27.41
29.01
26.88
23.24
27.07
27.74
29.82
27.08
24.25
26.53
40.27
44.25
41.37
36.95
41.56
0.01
0.01
0.01
0.01
Total debt/equity
0.01
0.01
0.01
0.01
99.51
99.19
99.20
98.85
99.12
2.08
5.31
5.15
5.20
4.48
Current ratio
1.47
1.32
1.37
1.36
1.38
1.47
1.32
1.37
1.36
1.38
Quick ratio
1.11
1.03
1.04
1.02
1.09
3.74
4.11
3.77
3.70
3.88
Leverage ratios
Liquidity ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
25.86
29.52
30.90
31.02
30.54
23.22
27.35
27.93
28.03
27.66
73.83
69.66
68.88
67.63
70.07
76.53
71.94
71.89
70.87
72.83
0.01
0.02
0.02
0.04
0.02
215.85
172.96
211.86
168.40
135.94
153.89
119.52
143.35
114.07
90.12
52.61
47.32
53.42
58.56
53.22
0.99
1.06
1.09
1.22
30.20
2.90
24.87
6.70
4.80
32.05
31.26
35.15
27.81
27.73
0.08
0.08
0.08
0.06
0.04
50.00
50.00
50.00
50.00
50.00
Payout ratios
Coverage ratios
Component ratios
14.Cipla Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
6,977.50
6,319.35
5,605.69
5,234.29
4,203.29
2,915.19
2,960.16
2,503.45
2,399.56
2,121.11
447.74
434.50
351.82
354.36
330.80
Personnel expenses
644.79
464.20
318.87
271.33
255.45
Selling expenses
464.87
385.53
326.48
375.59
284.63
907.19
793.64
724.14
588.61
359.13
Cost of sales
5,379.78
5,038.03
4,224.76
3,989.45
3,351.12
Operating profit
1,597.72
1,281.32
1,380.93
1,244.84
852.17
79.45
90.67
94.21
90.05
64.91
1,677.17
1,371.99
1,475.14
1,334.89
917.08
12.13
10.87
28.30
52.23
18.05
261.08
228.86
165.25
151.79
130.68
1,403.96
1,132.26
1,281.59
1,130.87
768.35
297.50
191.00
243.50
124.50
136.93
Income
Operating income
Expenses
Material consumed
Adjusted PBDIT
Financial expenses
Depreciation
Other write offs
Adjusted PBT
Tax charges
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
1,106.46
941.26
1,038.09
1,006.37
631.42
17.05
19.13
31.50
-229.56
70.01
0.45
11.90
Reported net profit
1,123.96
960.39
1,081.49
776.81
701.43
3,421.89
2,659.46
2,036.32
1,286.71
1,091.78
160.58
224.81
160.58
155.46
155.46
26.05
36.72
26.67
26.42
26.42
3,235.26
2,397.93
1,849.07
1,104.83
909.90
Adjusted PAT
Non recurring items
Equity dividend
Preference dividend
Dividend tax
Retained earnings
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
160.58
160.58
160.58
155.46
155.46
7,380.73
6,443.40
5,744.54
4,186.32
3,591.39
10.00
2.95
0.41
2.79
16.98
2.20
438.44
4.66
937.45
563.55
Sources of funds
Owner's fund
Reserves & surplus
Loan funds
Secured loans
Unsecured loans
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
7,553.51
7,045.37
5,910.19
5,282.02
4,327.38
4,298.18
3,929.00
2,895.44
2,693.29
2,201.79
8.97
8.97
8.97
8.97
8.97
1,295.52
1,060.98
884.27
700.80
540.43
Net block
2,993.69
2,859.05
2,002.20
1,983.52
1,652.39
420.73
253.07
684.24
366.32
233.12
1,035.15
570.28
265.10
81.32
94.75
4,535.25
6,022.56
5,483.42
4,419.57
3,743.98
1,431.31
2,659.59
2,524.77
1,568.71
1,396.86
3,103.94
3,362.97
2,958.65
2,850.86
2,347.12
7,553.51
7,045.37
5,910.19
5,282.02
4,327.38
1,034.79
570.28
265.10
81.32
94.75
608.80
478.26
423.87
730.75
1,664.58
8029.21
8029.21
8029.21
7772.91
7772.91
Total
Uses of funds
Fixed assets
Gross block
Investments
Net current assets

Total
Notes:
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Profit before tax
1,421.46
1,151.39
1,324.99
901.31
838.36
1,645.09
987.49
1,041.68
373.27
380.20
-1,046.78
-1,136.26
-562.23
-578.47
-687.25
-627.23
172.06
-471.61
178.92
254.84
-28.92
23.29
7.84
-26.28
-52.21
83.98
60.84
53.00
79.28
131.49
55.06
84.13
60.84
53.00
79.28
Dividend
Year
Month
Dividend (%)
2012
Jun
100
2011
Jun
100
2010
Aug
40
2010
Jun
100
2009
Jul
100
2008
Jul
100
Capital structure
From
Year
To
Year
Class Of
Share
2011
2012
Equity
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
175.00
160.78
802921357
160.58
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2010
2011
Equity
Share
175.00
160.78
802921357
160.58
2009
2010
Equity
Share
175.00
160.78
802921357
160.58
2008
2009
Equity
Share
175.00
155.66
777291357
155.46
2007
2008
Equity
Share
175.00
155.66
777291357
155.46
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
13.78
11.72
12.93
12.95
8.12
17.03
14.57
14.99
14.90
9.80
Reported EPS (Rs)
14.00
11.96
13.47
9.99
9.02
17.25
14.81
15.53
11.95
10.71
2.00
2.80
2.00
2.00
2.00
19.90
15.96
17.20
16.02
10.96
93.92
82.25
73.55
55.86
48.20
94.04
82.36
73.66
55.97
48.32
86.90
78.70
69.82
67.34
54.08
91.92
80.25
71.54
53.86
46.20
Per share ratios
Dividend per share
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
22.89
20.27
24.63
23.78
20.27
19.15
16.65
21.68
20.88
17.16
15.92
14.98
18.97
14.58
16.43
19.37
18.25
21.11
21.75
17.85
14.67
14.25
17.57
23.17
16.85
14.90
14.54
18.31
17.89
18.72
18.77
17.29
22.16
26.79
18.24
0.01
0.15
Total debt/equity
0.06
0.21
0.15
99.83
93.73
99.91
82.19
86.58
0.95
1.61
1.94
1.94
1.91
Current ratio
3.17
2.26
2.17
2.82
2.68
3.12
1.94
2.17
1.81
2.62
Quick ratio
1.89
1.56
1.57
1.93
1.88
3.88
3.73
3.74
3.79
3.83
16.60
27.23
17.31
23.41
25.92
Leverage ratios
Liquidity ratios
Payout ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
13.47
21.99
15.01
19.58
21.85
83.14
72.22
81.97
81.93
71.20
86.36
77.65
84.44
84.30
76.14
0.01
0.37
0.81
0.76
138.27
126.22
52.13
25.56
50.81
115.18
110.41
45.05
18.78
47.10
41.61
48.83
47.94
48.01
51.44
6.66
6.10
5.82
7.17
6.77
53.43
54.08
54.54
56.55
53.65
38.68
40.63
43.85
42.63
44.03
0.49
0.37
0.34
0.35
0.34
94.44
94.44
94.44
97.55
97.55
Coverage ratios
Component ratios
15.Coal India Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
415.86
461.31
448.14
318.05
271.81
20.80
0.03
-0.61
-0.69
20.92
Income
Operating income
Expenses
Material consumed
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
57.79
8.62
35.60
29.69
30.50
345.34
237.71
240.91
282.10
164.00
136.06
108.21
72.26
98.10
108.46
167.50
109.20
86.76
100.04
532.39
549.91
493.31
470.12
413.56
-116.53
-88.60
-45.17
-152.07
-141.75
9,101.71
5,072.87
4,301.01
4,274.15
3,172.38
Adjusted PBDIT
8,985.18
4,984.27
4,255.84
4,122.09
3,030.63
378.73
222.89
386.46
475.30
448.30
6.96
5.57
8.99
6.17
6.50
8,599.49
4,755.81
3,860.39
3,640.62
2,575.82
450.00
190.00
200.00
162.85
120.81
8,149.49
4,565.81
3,660.39
3,477.77
2,455.01
1.87
4.87
5.72
59.55
-84.39
165.72
114.65
-192.35
-60.77
8,065.10
4,733.40
3,779.92
3,291.14
2,453.80
15,533.71
10,476.26
8,369.44
6,627.24
5,583.47
Personnel expenses
Selling expenses
Cost of sales
Operating profit
Financial expenses
Depreciation
Other write offs
Adjusted PBT
Tax charges
Adjusted PAT
Non recurring items
Reported net profit
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
6,316.36
2,463.38
2,210.00
1,705.42
1,705.42
Preference dividend
Dividend tax
289.84
9,217.35
8,012.88
6,159.44
4,921.82
3,588.21
Equity dividend
Retained earnings
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
6,316.36
6,316.36
6,316.36
6,316.36
6,316.36
13,248.39
13,121.02
10,744.36
8,920.86
7,052.93
1,173.54
1,370.43
1,464.30
1,786.62
1,510.83
20,738.29
20,807.82
18,525.02
17,023.85
14,880.13
408.98
387.46
376.63
368.92
355.30
295.42
289.13
283.23
273.95
266.60
Sources of funds
Owner's fund
Reserves & surplus
Loan funds
Secured loans
Unsecured loans
Total
Uses of funds
Fixed assets
Gross block
Net block
Investments
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
113.56
98.33
93.40
94.97
88.70
60.75
55.67
17.84
5.99
1.07
6,541.19
6,319.17
6,316.57
6,316.36
6,316.36
23,996.70
21,179.95
17,540.14
15,836.64
13,309.95
9,973.91
6,845.31
5,442.93
5,230.11
4,835.95
14,022.79
14,334.64
12,097.21
10,606.53
8,474.00
20,738.29
20,807.82
18,525.02
17,023.85
14,880.13
6,541.19
6,319.17
6,316.57
6,316.36
312.15
289.93
164.74
190.86
63163.64
63163.64
63163.64
63163.64
631.64
Net current assets


Total
Notes:
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Profit before tax
8,599.95
4,723.37
3,870.40
3,657.68
5,474.67
2,420.62
2,293.61
1,745.87
829.61
-199.33
-273.82
-271.98
-6,474.76
-2,065.19
-1,941.52
-1,427.49
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
-170.48
156.11
78.26
46.40
476.78
217.27
139.00
92.60
306.30
373.37
217.27
139.00
Dividend
Year
Month
Dividend (%)
2012
May
2012
Feb
95
2011
May
2011
Feb
35
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2011
2012
Equity
Share
8,000.00
6,316.36
6316364400
10
6,316.36
2010
2011
Equity
Share
8,000.00
6,316.36
6316364400
10
6,316.36
2009
2010
Equity
Share
8,000.00
6,316.36
6316364400
10
6,316.36
2008
2009
Equity
Share
8,000.00
6,316.36
6316364400
10
6,316.36
2007
2008
Equity
Share
8,000.00
6,316.36
63163644
1,000
6,316.36
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
12.90
7.23
5.79
5.51
388.68
12.91
7.24
5.81
5.52
389.70
Reported EPS (Rs)
12.77
7.48
5.98
5.22
388.48
12.78
7.49
6.00
5.23
389.51
Dividend per share
10.00
3.90
3.50
2.70
270.00
-0.18
-0.14
-0.07
-0.24
-22.44
30.97
30.77
27.01
24.12
2,116.61
30.97
30.77
27.01
24.12
2,116.61
0.65
0.73
0.70
0.50
43.03
16.48
12.99
10.57
806.02
-28.02
-19.20
-10.08
-47.81
-52.15
-29.69
-20.41
-12.08
-49.75
-54.54
84.73
85.35
79.59
71.76
71.24
85.69
82.60
77.26
75.86
71.46
41.65
23.48
21.45
22.82
18.36
41.22
24.30
22.15
21.62
18.35
Per share ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
43.29
23.92
22.92
24.17
20.32
0.05
0.07
0.08
0.11
0.11
Total debt/equity
0.05
0.07
0.08
0.11
0.11
94.34
93.41
92.09
89.50
89.84
0.02
1.19
1.19
0.86
0.76
Current ratio
2.41
3.09
3.22
3.03
2.75
2.41
3.09
3.22
3.03
2.75
Quick ratio
2.40
3.09
3.22
3.02
2.75
26.29
14.33
18.58
18.22
29.77
78.31
52.15
58.46
51.75
81.31
78.24
52.08
58.32
51.65
81.09
22.50
46.05
39.63
50.97
18.73
22.56
46.12
39.78
51.05
18.95
0.14
0.29
0.39
0.51
0.61
23.72
22.36
11.01
8.67
6.76
22.31
22.22
10.80
7.95
6.49
Leverage ratios
Liquidity ratios
Payout ratios
Coverage ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
0.89
1.85
1.35
2.40
2.84
29.49
24.14
22.71
36.09
0.02
1.67
1.62
2.19
0.21
0.23
0.26
0.28
0.32
Component ratios
16.DLF Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
3,491.32
2,916.08
2,307.08
2,827.90
5,496.96
6.06
932.88
848.68
889.25
778.34
2,141.29
Personnel expenses
127.12
89.90
90.50
71.12
103.78
53.71
56.92
59.28
45.70
321.35
143.99
225.45
156.39
128.16
1,381.34
1,136.27
1,262.13
1,065.14
2,424.98
Income
Operating income
Expenses
Material consumed
Selling expenses
Cost of sales
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Operating profit
2,109.98
1,779.81
1,044.95
1,762.76
3,071.98
1,091.34
1,130.06
896.76
1,006.72
560.74
Adjusted PBDIT
3,201.33
2,909.87
1,941.72
2,769.48
3,632.72
Financial expenses
1,553.78
1,286.70
847.24
809.86
447.65
139.84
129.77
126.05
114.08
25.68
50.40
41.47
37.86
41.79
1,507.71
1,443.00
926.96
1,807.69
3,117.59
458.77
309.05
175.71
261.00
543.52
1,048.94
1,133.95
751.24
1,546.68
2,574.07
105.45
11.80
-2.15
0.16
-7.16
30.16
2.01
33.05
0.36
Reported net profit
1,041.79
1,269.56
765.06
1,577.58
2,574.59
3,862.80
4,033.49
3,441.30
3,312.54
2,843.86
339.68
339.51
339.48
339.44
681.93
55.10
11.38
28.91
115.89
3,468.02
3,693.97
3,090.44
2,944.19
2,046.03
Depreciation
Other write offs
Adjusted PBT
Tax charges
Adjusted PAT
Non recurring items
Equity dividend
Preference dividend
Dividend tax
Retained earnings
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
339.68
339.51
339.48
339.44
340.96
14,156.88
13,470.98
12,490.53
12,035.39
10,928.19
11,844.67
14,700.70
11,590.19
7,979.97
4,945.91
130.45
358.85
1,047.67
1,635.00
3,440.49
26,471.68
28,870.03
25,467.86
21,989.79
19,655.55
2,624.35
2,143.37
2,002.85
1,968.40
1,533.72
535.86
400.27
273.84
152.87
59.34
Net block
2,088.49
1,743.10
1,729.02
1,815.52
1,474.37
2,077.77
2,199.25
1,718.51
1,657.73
1,781.79
Investments
7,046.65
7,037.24
6,558.88
2,956.32
1,839.83
Sources of funds
Owner's fund
Reserves & surplus
Loan funds
Secured loans
Unsecured loans
Total
Uses of funds
Fixed assets
Gross block
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
24,855.10
24,251.81
18,944.48
18,718.62
18,345.94
9,596.33
6,361.36
3,483.03
3,158.40
3,786.38
15,258.77
17,890.45
15,461.45
15,560.22
14,559.56
26,471.68
28,870.03
25,467.86
21,989.79
19,655.55
7,046.65
7,037.24
6,558.88
2,956.32
1,808.92
30.92
12,719.78
10,141.63
7,423.38
4,875.99
3,047.92
16983.86
16975.72
16973.91
16972.09
17048.33
Net current assets


Total
Notes:
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
1,507.71
1,555.21
943.09
1,808.77
3,117.92
419.15
1,515.13
395.24
1,365.86
-1,505.81
1,158.71
-1,949.99
-2,420.00
-1,151.17
-6,482.00
-1,354.43
419.00
1,434.95
-437.54
8,945.90
223.44
-15.86
-589.80
-222.85
958.09
131.84
169.60
759.40
982.25
24.16
355.28
153.74
169.60
759.40
982.25
Profit before tax
Dividend
Year
Month
Dividend (%)
2012
May
100
2011
May
100
2010
Jul
100
2009
Jul
100
2008
Jun
100
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2011
2012
Equity
Share
499.50
341.25
1698385719
339.68
2010
2011
Equity
Share
499.50
341.01
1697571794
339.51
2009
2010
Equity
Share
499.50
341.01
1697390890
339.48
2008
2009
Equity
Share
499.50
340.97
1704832680
340.97
2007
2008
Equity
Share
499.50
340.97
1704832680
340.97
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
6.18
6.68
4.43
9.11
15.10
7.00
7.74
5.41
10.01
15.49
Per share ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Reported EPS (Rs)
6.13
7.48
4.51
9.12
15.10
6.96
8.54
5.49
10.01
15.50
Dividend per share
2.00
2.00
2.00
2.00
4.00
12.42
10.48
6.16
10.39
18.02
85.35
81.35
75.59
72.91
66.10
85.35
81.35
75.59
72.91
66.10
20.56
17.18
13.59
16.66
32.24
71.90
70.78
69.75
63.84
60.43
61.03
45.29
62.33
55.88
56.42
56.58
39.82
58.30
55.41
22.73
31.37
23.87
40.36
42.49
25.94
32.47
28.67
44.29
43.60
7.23
8.21
5.85
12.49
22.84
7.18
9.19
5.96
12.50
22.84
12.71
9.54
7.01
13.36
22.40
0.66
1.07
0.97
0.58
0.41
Total debt/equity
0.82
1.09
0.98
0.77
0.74
54.76
47.83
50.37
56.27
57.33
Leverage ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
0.12
1.38
1.17
1.46
3.60
Current ratio
2.59
3.81
5.44
5.93
4.85
1.74
3.51
5.03
2.96
2.34
Quick ratio
1.74
2.49
3.56
3.83
3.28
0.43
0.42
0.41
37.89
26.74
45.86
23.79
30.99
33.40
23.41
37.62
21.67
30.19
62.37
70.06
53.30
76.19
69.01
66.80
74.17
61.82
78.32
69.80
10.07
11.46
13.76
5.66
3.17
2.06
2.26
2.29
3.42
8.12
1.76
2.13
2.10
3.10
6.90
1.84
2.46
2.09
0.83
1.52
3.16
5.30
3.51
2.18
Liquidity ratios
Payout ratios
Coverage ratios
Component ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
0.30
0.31
0.34
0.25
0.21
78.81
78.85
78.86
78.87
78.51
17.Hindustan Unilever Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Dec ' 07
22,118.64
19,689.91
17,769.12
20,504.28
13,880.56
11,832.45
10,199.25
8,984.50
10,945.71
7,380.72
922.37
825.99
498.74
598.71
402.99
Personnel expenses
1,095.54
961.27
936.30
1,152.12
767.81
Selling expenses
3,705.28
3,811.55
3,262.12
3,277.74
2,160.38
1,237.80
1,227.36
1,289.76
1,565.05
1,092.23
18,793.44
17,025.42
14,971.42
17,539.33
11,804.13
3,325.20
2,664.49
2,797.70
2,964.95
2,076.43
162.35
254.81
144.36
174.94
180.42
3,487.55
2,919.30
2,942.06
3,139.89
2,256.84
1.24
0.24
6.98
25.32
25.50
218.25
220.83
184.03
195.30
138.36
Income
Operating income
Expenses
Material consumed
Cost of sales
Operating profit
Adjusted PBDIT
Financial expenses
Depreciation
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Dec ' 07
3,268.06
2,698.23
2,751.05
2,919.26
2,092.99
785.28
573.87
648.36
572.94
417.14
2,482.78
2,124.36
2,102.69
2,346.32
1,675.85
200.97
184.67
55.37
101.60
247.95
7.65
-3.06
43.97
48.53
1.67
Reported net profit
2,691.40
2,305.97
2,202.03
2,496.45
1,925.47
3,927.00
3,108.16
2,678.36
2,693.95
2,729.12
Equity dividend
1,620.94
1,410.60
1,417.94
1,634.51
1,976.12
262.96
231.36
238.03
277.78
355.50
2,043.10
1,466.20
1,022.39
781.66
397.50
Other write offs
Adjusted PBT
Tax charges
Adjusted PAT
Non recurring items
Preference dividend
Dividend tax
Retained earnings
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Dec ' 07
216.15
215.95
218.17
217.99
217.75
3,296.11
2,417.30
2,364.68
1,842.85
1,220.82
Sources of funds
Owner's fund
Reserves & surplus
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Dec ' 07
Secured loans
144.65
25.52
Unsecured loans
277.30
63.01
3,512.26
2,633.25
2,582.85
2,482.79
1,527.10
3,574.67
3,759.62
3,581.96
2,881.73
2,669.08
0.67
0.67
0.67
0.67
0.67
1,416.88
1,590.46
1,419.85
1,274.95
1,146.57
Net block
2,157.12
2,168.49
2,161.44
1,606.11
1,521.84
210.89
299.08
273.96
472.07
185.64
2,438.21
1,260.68
1,264.08
332.62
1,440.81
6,340.40
6,494.19
5,818.89
6,040.04
3,681.12
7,634.36
7,589.19
6,935.52
5,968.06
5,302.30
-1,293.96
-1,095.00
-1,116.63
71.98
-1,621.18
3,512.26
2,633.25
2,582.85
2,482.79
1,527.10
156.51
108.93
466.46
317.30
1,364.36
Loan funds
Total
Uses of funds
Fixed assets
Gross block
Investments
Net current assets
Total
Notes:
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Dec ' 07
2,469.28
1,279.49
953.58
71.09
287.83
1,009.23
836.96
468.49
417.26
494.46
21615.12
21594.72
21816.87
21798.76
21774.63
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Dec ' 07
Profit before tax
3,350.16
2,730.18
2,707.07
3,025.12
2,184.53
2,869.56
1,890.57
3,432.37
2,028.65
1,680.11
-452.45
134.99
-1,137.46
878.19
1,023.76
-1,722.32
-2,277.75
-2,180.32
-1,330.36
-2,921.34
694.79
-252.19
114.59
1,576.49
-217.47
228.15
1,892.20
1,777.62
200.86
418.33
922.94
1,640.01
1,892.21
1,777.35
200.86
Dividend
Year
Month
Dividend (%)
2012
Oct
1,250
2012
May
400
2011
Oct
350
2011
May
350
2010
Oct
300
2010
May
350
Year
Month
Dividend (%)
2009
Oct
300
2009
May
400
2008
Jul
350
2008
Feb
300
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2011
2012
Equity
Share
225.00
216.15
2161512492
216.15
2010
2011
Equity
Share
225.00
215.95
2159471968
215.95
2009
2010
Equity
Share
225.00
218.17
2181686781
218.17
2008
2009
Equity
Share
225.00
217.99
2179776077
217.98
2007
2007
Equity
Share
225.00
217.75
2177463355
217.75
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Dec ' 07
Adjusted EPS (Rs)
11.49
9.84
9.64
10.76
7.70
12.50
10.86
10.48
11.66
8.33
Reported EPS (Rs)
12.45
10.68
10.09
11.47
8.12
13.46
11.70
10.94
12.37
8.76
Per share ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Dec ' 07
7.50
6.50
6.50
7.50
9.00
15.38
12.34
12.82
13.60
9.54
16.25
12.19
11.84
9.45
6.61
16.25
12.20
11.84
9.46
6.61
102.33
91.18
81.45
94.06
63.75
14.94
11.04
10.70
8.30
5.45
15.03
13.53
15.74
14.46
14.95
14.04
12.41
14.70
13.50
13.96
12.07
11.56
12.29
12.09
12.58
12.12
11.75
12.76
12.29
12.90
70.68
80.67
81.40
113.85
116.49
76.62
87.57
85.25
121.34
122.97
93.08
102.47
106.78
142.88
147.26
Total debt/equity
0.20
0.06
100.00
100.00
100.00
83.00
94.20
7.20
5.63
5.35
7.81
5.64
Dividend per share
Leverage ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Dec ' 07
Current ratio
0.83
0.85
0.83
1.01
0.69
0.83
0.85
0.83
0.92
0.67
Quick ratio
0.44
0.43
0.45
0.51
0.24
9.93
7.91
8.99
9.26
8.20
69.99
71.20
75.20
76.47
131.80
64.74
64.98
69.40
70.93
122.23
24.13
22.71
21.25
18.50
-39.13
30.26
29.99
27.59
24.77
-28.52
0.16
0.04
2,812.54
12,163.75
421.50
123.99
88.52
2,347.49
10,529.33
342.84
107.47
75.81
52.90
53.29
50.67
55.50
54.34
16.75
19.35
18.35
15.98
15.56
2.24
7.25
7.31
9.47
10.68
12.53
19.20
18.61
21.65
16.67
0.42
0.34
0.37
0.26
0.44
Liquidity ratios
Payout ratios
Coverage ratios
Component ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Dec ' 07
60.92
60.98
60.36
60.40
60.47
18.Hindalco Industries Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
26,592.56
23,757.14
19,456.98
18,159.81
19,118.01
18,145.52
16,032.10
12,900.91
11,392.95
12,344.83
3,096.49
2,477.32
2,138.32
2,375.02
2,026.73
Personnel expenses
1,112.06
1,054.39
904.90
675.05
631.07
Selling expenses
469.75
405.32
362.94
318.54
310.60
864.21
618.87
559.19
487.04
535.38
-91.85
-390.30
23,596.18
20,197.70
16,866.26
15,248.60
15,848.60
2,996.38
3,559.44
2,590.72
2,911.21
3,269.41
564.21
422.19
302.12
621.10
527.95
3,560.59
3,981.63
2,892.84
3,532.31
3,797.36
Financial expenses
293.63
610.26
278.00
336.93
280.63
Depreciation
689.97
687.48
671.36
644.34
587.81
3.62
Income
Operating income
Expenses
Material consumed
Cost of sales
Operating profit
Adjusted PBDIT
Other write offs
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
2,576.99
2,683.89
1,943.48
2,551.04
2,925.30
499.75
468.66
462.10
610.88
705.34
2,077.24
2,215.23
1,481.38
1,940.16
2,219.97
109.80
-117.94
272.50
91.56
43.23
50.16
39.63
157.60
198.55
597.74
Reported net profit
2,237.20
2,136.92
1,911.48
2,230.27
2,860.94
2,587.20
2,436.92
2,211.48
2,530.27
2,959.38
296.76
287.17
258.32
229.58
226.89
0.02
0.02
38.41
46.59
42.90
39.03
38.56
2,252.03
2,103.16
1,910.26
2,261.64
2,693.90
Adjusted PBT
Tax charges
Adjusted PAT
Non recurring items
Equity dividend
Preference dividend
Dividend tax
Retained earnings
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
191.48
191.46
191.37
170.05
122.65
541.31
4.47
3.99
3.17
139.50
0.41
31,299.68
29,504.17
27,715.61
23,584.69
17,173.67
Sources of funds
Owner's fund
Reserves & surplus
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
11,276.16
5,170.31
5,153.90
5,713.23
6,205.42
3,295.75
2,101.19
1,203.00
2,611.06
2,123.16
46,604.38
36,971.60
34,267.87
32,082.61
25,764.40
14,478.11
14,287.32
13,793.35
13,393.07
12,608.46
7,327.67
6,702.94
6,058.53
5,506.10
4,799.12
Net block
7,150.44
7,584.38
7,734.82
7,886.97
7,809.34
17,654.38
9,464.05
3,702.79
1,389.63
1,119.87
Investments
18,087.10
18,246.75
21,480.83
19,148.84
14,107.99
12,869.15
10,904.79
8,962.11
7,824.24
7,926.26
9,156.69
9,228.37
7,612.68
4,167.07
5,199.05
3,712.46
1,676.42
1,349.43
3,657.17
2,727.21
46,604.38
36,971.60
34,267.87
32,082.61
25,764.40
15,955.43
17,007.83
20,232.63
17,853.29
12,940.29
Loan funds
Secured loans
Unsecured loans
Total
Uses of funds
Fixed assets
Gross block
Net current assets


Total
Notes:
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
5,762.70
4,672.67
4,304.76
2,433.33
5,795.68
8,537.29
11,333.90
18,607.32
9,775.80
17,660.42
19145.42
19143.98
19134.62
17002.71
12271.30
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Profit before tax
2,736.95
2,594.74
2,264.56
2,690.32
3,025.61
2,122.07
2,257.37
1,717.28
3,170.39
2,139.84
-6,366.96
-2,164.04
-4,074.59
-5,773.42
-5,362.50
4,733.56
-0.22
1,653.97
3,298.83
2,719.88
488.67
93.11
-703.34
695.80
-502.77
224.96
131.84
835.18
139.38
642.15
713.63
224.95
131.84
835.18
139.38
Dividend
Year
Month
Dividend (%)
2012
Jun
155
2011
May
150
2010
Jun
135
2009
Jun
135
2008
Jun
185
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2011
2012
Equity
Share
210.00
191.51
1915088557
191.51
2010
2011
Equity
Share
210.00
191.50
1914944163
191.49
2009
2010
Equity
Share
210.00
191.47
1914008691
191.40
2008
2009
Equity
Share
195.00
170.15
1700817056
170.08
2007
2008
Equity
Share
145.00
122.72
1227190692
122.72
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
10.85
11.57
7.74
11.41
18.09
14.45
15.16
11.25
15.20
22.91
Reported EPS (Rs)
11.69
11.16
10.01
13.12
23.31
15.29
14.75
13.52
16.91
28.13
1.55
1.50
1.35
1.35
1.85
15.65
18.59
13.54
17.12
26.64
164.48
155.12
145.85
139.71
140.95
164.48
155.12
145.85
139.71
140.95
138.90
124.10
101.68
106.81
155.79
Per share ratios
Dividend per share
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
118.08
108.14
98.72
86.31
138.43
11.26
14.98
13.31
16.03
17.10
8.67
12.08
9.86
12.48
14.02
8.23
8.83
9.69
11.87
14.56
10.18
12.00
10.89
13.76
14.31
6.59
7.45
5.30
8.16
12.83
7.10
7.19
6.86
9.38
16.54
6.73
9.44
6.71
9.72
13.56
0.35
0.17
0.18
0.25
0.36
Total debt/equity
0.46
0.24
0.22
0.35
0.48
68.36
80.32
81.44
74.04
67.49
0.63
1.67
1.42
1.37
1.53
Current ratio
1.41
1.18
1.18
1.88
1.52
1.01
0.96
1.02
1.20
1.08
Quick ratio
0.54
0.34
0.38
0.88
0.52
3.80
3.43
3.63
5.16
4.32
Leverage ratios
Liquidity ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
14.98
15.61
15.72
12.04
9.27
11.45
11.81
11.64
9.34
7.68
83.87
84.94
79.67
86.16
88.05
87.89
88.51
86.01
89.61
90.56
5.27
2.50
2.95
3.22
2.96
12.13
6.52
10.41
10.48
13.53
10.97
5.63
10.31
9.53
13.30
69.78
69.18
70.24
59.77
65.31
1.76
1.70
1.86
1.75
1.62
30.14
29.87
27.12
28.38
33.65
90.17
88.47
89.76
86.35
90.35
0.76
0.76
0.78
0.78
0.74
25.68
25.68
25.69
28.92
40.09
Payout ratios
Coverage ratios
Component ratios
19.ITC Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
25,090.11
21,120.83
18,567.45
14,985.81
14,032.20
Income
Operating income
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Material consumed
9,783.89
8,292.71
7,588.23
6,234.66
6,275.33
1,087.99
982.25
801.13
797.00
383.42
Personnel expenses
1,265.41
1,178.46
1,014.87
903.37
745.00
Selling expenses
1,673.54
1,437.91
1,238.24
1,067.83
1,044.40
2,357.47
2,091.01
1,864.54
1,133.48
1,266.57
-60.54
-71.88
-72.55
-112.75
16,168.30
13,921.80
12,435.13
10,063.79
9,601.97
8,921.81
7,199.03
6,132.32
4,922.02
4,430.23
612.05
647.91
496.27
422.80
479.82
9,533.86
7,846.94
6,628.59
5,344.82
4,910.05
87.02
78.11
90.28
47.65
24.61
698.51
655.99
608.71
549.41
438.46
Adjusted PBT
8,748.33
7,112.84
5,929.60
4,747.76
4,446.98
Tax charges
2,737.08
2,287.69
1,965.43
1,565.13
1,480.97
Adjusted PAT
6,011.25
4,825.15
3,964.17
3,182.63
2,966.01
149.20
127.85
48.78
3.41
36.68
2.51
35.21
48.65
81.52
117.41
Expenses
Cost of sales
Operating profit
Adjusted PBDIT
Financial expenses
Depreciation
Other write offs
Non recurring items
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Reported net profit
6,162.96
4,988.21
4,061.60
3,267.56
3,120.10
Earnings before appropriation
6,711.63
5,049.52
4,919.74
3,992.01
3,767.63
Equity dividend
3,518.29
3,443.47
3,818.18
1,396.53
1,319.01
570.75
558.62
634.15
237.34
224.17
2,622.59
1,047.43
467.41
2,358.14
2,224.45
Preference dividend
Dividend tax
Retained earnings
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
781.84
773.81
381.82
377.44
376.86
17,957.00
15,126.12
13,628.17
13,302.55
11,624.69
1.77
1.94
11.63
5.57
77.32
97.26
107.71
165.92
208.86
18,817.93
15,999.13
14,117.70
13,857.54
12,215.98
Sources of funds
Owner's fund
Reserves & surplus
Loan funds
Secured loans
Unsecured loans
Total
Uses of funds
Fixed assets
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
13,926.34
12,765.82
11,967.86
10,558.65
8,959.70
53.05
53.34
54.39
55.09
56.12
4,819.66
4,420.75
3,825.46
3,286.74
2,790.87
Net block
9,053.63
8,291.73
8,088.01
7,216.82
6,112.71
2,572.06
1,333.40
1,008.99
1,214.06
1,126.82
Investments
6,316.59
5,554.66
5,726.87
2,837.75
2,934.55
11,395.32
10,592.28
8,463.31
8,450.99
7,306.99
10,519.67
9,772.94
9,169.48
5,862.08
5,265.09
875.65
819.34
-706.17
2,588.91
2,041.90
18,817.93
15,999.13
14,117.70
13,857.54
12,215.98
3,949.94
2,972.48
5,108.69
2,861.88
2,958.68
3,985.38
3,096.14
1,355.62
9.12
13.42
2,533.61
251.78
258.73
261.36
308.08
78184.24
77381.44
38181.77
37744.00
37686.10
Gross block
Net current assets
Total
Notes:
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Profit before tax
8,897.53
7,268.16
6,015.31
4,825.74
4,571.77
6,015.59
5,264.24
4,630.65
3,279.03
2,722.96
-2,210.19
-616.22
-3,531.56
-1,260.74
-1,736.78
-3,246.55
-3,551.64
-1,009.86
-1,556.15
-1,316.09
558.85
1,096.38
89.23
462.14
-329.91
2,178.92
1,082.93
993.70
570.25
900.16
2,737.77
2,179.31
1,082.93
1,032.39
570.25
Dividend
Year
Month
Dividend (%)
2012
May
450
2011
May
445
2010
May
1,000
2009
May
370
2008
May
350
Capital structure
From
Year
To
Year
Class Of
Share
2011
2012
Equity
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
1,000.00
781.84
7818424300
781.84
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2010
2011
Equity
Share
1,000.00
773.81
7738144280
773.81
2009
2010
Equity
Share
500.00
381.82
3818176790
381.82
2008
2009
Equity
Share
500.00
377.44
3774399560
377.44
2007
2008
Equity
Share
500.00
376.86
3768610050
376.86
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
7.69
6.24
10.38
8.43
7.87
8.58
7.08
11.98
9.89
9.03
Reported EPS (Rs)
7.88
6.45
10.64
8.65
8.28
8.78
7.29
12.23
10.10
9.44
Dividend per share
4.50
4.45
10.00
3.70
3.50
11.41
9.30
16.06
13.04
11.76
23.97
20.55
36.69
36.24
31.85
24.04
20.62
36.84
36.39
32.00
32.09
27.29
48.63
39.70
37.23
22.50
19.07
34.73
34.27
29.88
Per share ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
35.55
34.08
33.02
32.84
31.57
32.77
30.97
29.74
29.17
28.44
23.97
22.91
21.30
21.18
21.50
26.10
25.17
23.98
24.22
23.45
32.07
30.34
28.29
23.26
24.71
32.88
31.36
28.98
23.85
25.99
46.95
44.95
42.64
34.75
36.88
0.01
0.01
0.01
0.01
Total debt/equity
0.01
0.01
0.01
0.01
99.57
99.37
99.23
98.71
98.24
1.44
1.69
1.58
1.44
1.59
Current ratio
1.08
1.08
0.92
1.44
1.39
1.08
1.08
0.92
1.42
1.36
Quick ratio
0.50
0.50
0.39
0.60
0.56
6.53
6.05
6.04
5.26
5.51
66.35
80.24
109.63
50.06
49.45
Leverage ratios
Liquidity ratios
Payout ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
59.59
70.91
95.34
42.84
43.36
31.98
17.06
-12.31
48.67
47.98
39.06
26.99
2.64
56.23
54.68
0.01
0.01
0.02
0.04
0.06
109.56
100.46
73.42
112.17
199.51
79.84
73.25
52.72
81.02
145.60
39.59
40.72
38.45
45.80
44.95
6.67
6.80
6.66
7.12
7.44
10.44
13.32
12.68
14.85
15.45
13.03
13.34
12.03
12.98
12.78
0.61
0.58
0.63
0.56
0.57
90.87
91.81
85.85
86.84
86.98
Coverage ratios
Component ratios
20.Jaiprakash Associates Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
12,803.11
12,876.47
10,066.57
5,768.76
3,978.37
Income
Operating income
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Material consumed
1,923.75
1,474.42
1,792.99
1,002.20
792.63
5,071.59
6,512.87
4,165.48
1,976.53
1,136.70
661.32
595.72
453.35
330.79
255.27
1,070.61
683.86
416.41
368.86
1,706.80
518.21
765.95
278.44
265.85
-307.63
-217.27
Cost of sales
9,363.46
9,864.20
7,644.36
4,004.37
2,819.31
Operating profit
3,439.65
3,012.27
2,422.21
1,764.39
1,159.06
264.49
350.56
274.30
395.53
268.32
Adjusted PBDIT
3,704.14
3,362.83
2,696.51
2,159.92
1,427.38
Financial expenses
1,781.74
1,515.41
1,158.28
584.75
383.70
614.15
607.81
456.06
308.97
203.30
0.42
4.40
0.33
0.31
1,308.25
1,239.19
1,077.77
1,265.87
840.07
288.10
600.82
673.31
353.97
233.68
1,020.15
638.37
404.46
911.90
606.39
514.48
1,320.87
-6.41
3.28
23.17
32.61
3.25
12.23
-0.06
1,043.32
1,185.46
1,728.58
917.72
609.61
Expenses
Personnel expenses
Selling expenses
Depreciation
Other write offs
Adjusted PBT
Tax charges
Adjusted PAT
Non recurring items
Reported net profit
Equity dividend
Preference dividend
Dividend tax
Retained earnings
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
3,912.24
3,830.49
3,608.26
2,501.36
1,719.67
106.32
170.12
190.44
127.09
114.60
17.25
13.80
31.93
15.57
19.47
3,788.67
3,646.57
3,385.89
2,358.70
1,585.60
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
425.29
425.29
424.93
236.76
234.30
202.40
398.50
11,879.01
8,769.52
7,771.87
5,951.54
3,657.07
13,234.93
14,929.62
11,358.01
7,338.28
4,640.30
2,881.36
6,603.42
6,408.47
5,675.53
3,593.98
28,420.59
30,727.85
25,963.28
19,404.51
12,524.15
14,275.60
14,796.41
12,847.14
8,619.22
5,166.24
202.56
303.92
307.31
308.13
Sources of funds
Owner's fund
Reserves & surplus
Loan funds
Secured loans
Unsecured loans
Total
Uses of funds
Fixed assets
Gross block
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
3,330.94
2,839.53
2,228.46
1,801.31
1,454.73
10,944.66
11,754.32
10,314.76
6,510.60
3,403.38
6,817.83
7,969.54
5,247.69
5,763.37
4,545.18
Investments
6,882.47
6,483.75
5,576.26
4,465.20
3,224.83
16,099.36
11,561.91
11,775.77
8,510.58
5,648.25
12,323.73
7,041.67
6,951.20
5,849.10
4,297.59
3,775.63
4,520.24
4,824.57
2,661.48
1,350.66
3.86
0.10
28,420.59
30,727.85
25,963.28
19,404.51
12,524.15
2,319.42
3,631.22
4,481.33
3,888.41
2,602.85
13,348.65
13,685.34
10,809.69
910.24
2,283.78
4,003.93
3,396.91
5,331.15
3,727.47
3,900.16
21264.33
21264.33
21246.35
11838.01
11715.22
Net block
Net current assets

Total
Notes:
Cash flow
Profit before tax
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
1,314.34
1,754.51
2,381.67
1,250.98
843.35
704.77
1,207.58
185.32
523.12
1,007.69
-2,948.10
-4,919.20
-2,949.12
-3,712.66
-4,225.27
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
842.28
2,294.97
3,734.39
4,259.04
3,603.21
-1,401.05
-1,416.65
970.59
1,069.50
385.63
2,423.28
3,879.18
2,908.59
1,839.09
1,429.81
1,022.23
2,462.53
3,879.18
2,908.59
1,815.44
Dividend
Year
Month
Dividend (%)
2012
May
25
2011
Aug
20
2011
Jan
20
2010
May
27
2009
Oct
27
2009
Jun
20
2009
Apr
15
2008
Oct
15
2008
May
20
2008
Jan
15
Capital structure
From
Year
To
Year
Class Of
Share
2011
2012
Equity
Share
2010
2011
Equity
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2,468.80
425.29
2126433182
425.29
2,468.80
425.29
2126433182
425.29
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
Share
2009
2010
Equity
Share
2,468.80
424.93
2124634633
424.93
2008
2009
Equity
Share
2,468.80
236.76
1183800579
236.76
2007
2008
Equity
Share
1,030.00
234.30
1171522417
234.30
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
4.80
3.00
1.90
7.70
5.18
7.69
5.86
4.07
10.32
6.91
Reported EPS (Rs)
4.83
5.49
8.04
7.58
5.20
7.71
8.35
10.21
10.19
6.94
Dividend per share
0.50
0.80
1.08
1.00
1.00
16.18
14.17
11.40
14.90
9.89
57.86
43.24
38.58
52.24
33.22
57.86
44.19
40.01
54.84
35.85
60.21
60.55
47.38
48.73
33.96
31.37
29.81
43.68
28.65
26.86
23.39
24.06
30.58
29.13
Per share ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
22.06
18.67
19.53
25.22
24.02
7.85
8.82
16.52
14.55
14.35
12.50
9.42
8.36
19.81
19.07
8.29
6.94
4.93
14.74
15.58
8.34
12.70
20.84
14.50
15.66
11.30
9.55
9.22
10.46
10.72
1.22
2.13
1.96
1.86
1.93
Total debt/equity
1.31
2.34
2.17
2.10
2.12
43.29
29.92
31.57
32.22
32.09
0.43
0.87
0.78
0.67
0.77
Current ratio
1.31
1.64
1.69
1.46
1.31
1.18
1.26
1.32
1.13
1.09
Quick ratio
1.17
1.40
1.47
1.24
1.08
7.93
12.35
11.15
7.75
6.83
12.03
15.74
13.01
15.90
21.99
7.53
10.35
10.25
11.82
16.48
87.89
71.19
45.03
84.36
77.90
Leverage ratios
Liquidity ratios
Payout ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
92.44
85.25
74.30
88.32
83.45
9.86
17.27
20.54
10.66
10.17
2.08
2.22
2.33
3.69
3.72
1.92
2.17
2.87
3.06
3.12
14.26
12.71
16.98
18.51
20.52
8.31
6.79
7.21
9.27
0.60
0.27
0.40
1.20
1.85
10.17
6.94
70.38
7.93
7.28
0.60
0.69
0.64
0.66
0.66
33.26
33.26
33.28
Coverage ratios
Component ratios
21.Housing Development Finance Corporation Ltd. Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
17,226.96
12,852.93
11,338.28
10,994.79
8,176.35
Material consumed
Income
Operating income
Expenses
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
205.79
175.53
146.65
138.61
117.80
24.20
26.29
28.39
35.50
37.26
280.70
206.92
180.64
150.80
133.81
510.69
408.74
355.68
324.91
288.87
16,716.27
12,444.18
10,982.60
10,669.88
7,887.48
21.34
25.14
22.55
22.87
19.71
Adjusted PBDIT
16,737.61
12,469.33
11,005.15
10,692.75
7,907.19
Financial expenses
10,936.51
7,541.87
7,062.60
7,670.72
5,184.53
20.54
19.20
18.20
17.46
16.60
Adjusted PBT
5,780.56
4,908.26
3,924.35
3,004.58
2,706.06
Tax charges
1,543.65
1,332.65
1,090.15
936.50
937.86
Adjusted PAT
4,236.91
3,575.61
2,834.20
2,068.08
1,768.20
-114.29
-40.65
-7.71
214.47
668.05
-3.18
-16.12
14.79
13.55
Reported net profit
4,119.44
3,518.83
2,841.28
2,296.09
2,436.25
4,119.44
3,518.83
2,841.28
2,296.09
2,436.25
Equity dividend
1,624.67
1,320.20
1,033.60
853.36
710.09
Personnel expenses
Selling expenses
Cost of sales
Operating profit
Depreciation
Other write offs
Non recurring items
Preference dividend
Dividend tax
Retained earnings
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
258.90
215.23
171.67
140.69
120.68
2,235.87
1,983.40
1,636.02
1,302.04
1,605.47
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
295.39
293.37
287.11
284.45
284.03
18,722.19
17,023.14
14,910.55
12,852.94
11,663.31
Secured loans
64,899.16
81,641.52
63,605.65
55,180.08
51,736.68
Unsecured loans
31,084.82
33,768.96
32,959.66
28,676.00
17,414.54
1,15,001.56
1,32,727.00
1,11,762.97
96,993.47
81,098.56
551.17
547.55
524.46
493.85
488.57
317.22
313.60
302.34
290.45
280.07
Sources of funds
Owner's fund
Reserves & surplus
Loan funds
Total
Uses of funds
Fixed assets
Gross block
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
233.95
233.95
222.11
203.41
208.49
4.30
4.57
40.40
12,207.00
11,832.39
10,727.45
10,468.75
6,915.01
1,55,124.13
1,27,480.77
1,05,691.87
91,036.66
77,310.27
52,567.82
6,824.69
4,878.47
4,715.35
3,375.61
1,02,556.31
1,20,656.08
1,00,813.40
86,321.31
73,934.66
1,15,001.56
1,32,727.00
1,11,762.97
96,993.47
81,098.56
6,078.28
5,733.14
4,627.84
8,282.75
4,714.44
22,768.95
20,490.97
16,982.11
5,942.80
8,554.84
1,596.97
755.63
633.08
750.74
450.29
14769.70
14668.87
2871.10
2844.54
2840.38
Net block
Investments
Net current assets

Total
Notes:
Cash flow
Profit before tax
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
5,665.62
4,866.96
3,915.99
3,219.04
3,373.50
-23,748.28
-16,944.96
-9,732.65
2,779.90
1,899.41
171.60
-527.87
112.29
-3,414.59
-2,380.13
22,688.38
18,645.49
13,149.38
1,552.54
-114.89
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
-888.30
1,172.66
3,529.02
917.85
-595.61
3,387.70
5,224.63
1,695.61
777.76
1,373.35
2,499.40
6,397.29
5,224.63
1,695.61
777.74
Dividend
Year
Month
Dividend (%)
2012
May
550
2011
May
450
2010
May
360
2009
May
300
2008
Apr
250
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2011
2012
Equity
Share
325.00
295.39
1476970010
295.39
2010
2011
Equity
Share
325.00
293.38
1466886690
293.38
2009
2010
Equity
Share
325.00
287.11
287110222
10
287.11
2008
2009
Equity
Share
325.00
284.45
284453910
10
284.45
2007
2008
Equity
Share
325.00
284.04
284037985
10
284.04
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
28.69
24.38
98.71
72.70
62.25
28.83
24.51
99.35
73.32
62.84
Reported EPS (Rs)
27.91
24.10
98.45
80.24
85.77
28.05
24.23
99.08
80.86
86.36
Dividend per share
11.00
9.00
36.00
30.00
25.00
113.18
84.83
382.52
375.10
277.69
128.76
118.05
529.33
461.85
420.62
128.76
118.05
529.33
461.85
420.62
116.64
87.62
394.91
386.52
287.86
82.21
78.06
355.11
329.46
310.06
97.03
96.81
96.86
97.04
96.46
96.91
96.67
96.70
96.88
96.26
23.90
27.44
24.87
20.71
29.72
24.68
27.91
25.10
18.92
21.77
22.27
20.64
18.64
15.74
14.79
21.67
20.41
18.59
17.37
20.39
17.81
9.62
10.62
11.90
9.98
Per share ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
3.94
6.47
5.81
5.83
5.62
Total debt/equity
5.05
6.66
6.35
6.38
5.79
16.53
13.04
13.59
13.54
14.73
0.13
23.71
21.79
22.36
16.83
Current ratio
2.95
18.68
21.66
19.31
22.90
1.76
10.78
7.09
7.56
14.12
Quick ratio
2.94
18.61
21.61
19.25
22.84
45.68
43.43
42.64
43.55
34.10
45.46
43.20
42.36
43.21
33.86
55.55
57.06
57.48
51.94
53.02
55.76
57.29
57.75
52.34
53.46
22.54
32.10
33.85
40.21
38.74
1.53
1.65
1.56
1.39
1.53
1.38
1.47
1.40
1.30
1.47
Leverage ratios
Liquidity ratios
Payout ratios
Coverage ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
0.14
0.20
0.25
0.32
0.45
0.06
0.09
0.20
0.16
0.21
0.07
0.53
0.58
0.64
0.64
41.28
41.57
42.47
42.87
42.93
Component ratios
22.Jindal Steel & Power Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
13,286.49
9,543.47
7,347.44
7,677.83
5,368.14
Material consumed
6,013.06
3,679.00
3,179.38
3,419.42
1,727.40
1,239.02
1,094.40
838.40
773.84
670.87
385.44
282.65
219.72
181.46
132.20
358.58
209.68
327.76
264.73
1,586.48
447.30
344.78
337.49
277.03
9,224.00
5,861.93
4,791.96
5,039.97
3,072.23
Income
Operating income
Expenses
Personnel expenses
Selling expenses
Cost of sales
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
4,062.49
3,681.54
2,555.48
2,637.86
2,295.91
184.48
266.86
205.37
199.46
57.31
4,246.97
3,948.40
2,760.85
2,837.32
2,353.22
Financial expenses
536.77
483.22
331.66
267.89
243.02
Depreciation
867.19
687.77
512.16
433.03
451.51
0.20
0.27
2,843.01
2,777.41
1,917.03
2,136.20
1,658.42
732.36
688.87
427.78
465.40
265.55
2,110.65
2,088.54
1,489.25
1,670.80
1,392.87
Non recurring items
-25.84
-12.50
-144.78
-144.57
1.42
2.93
10.46
-11.34
Reported net profit
2,110.65
2,064.12
1,479.68
1,536.48
1,236.96
9,222.66
7,542.95
5,798.63
4,584.28
3,239.54
149.46
140.19
116.52
85.33
62.02
3.15
3.75
4.28
10.55
9,070.05
7,399.01
5,677.83
4,498.95
3,166.97
Operating profit
Adjusted PBDIT
Other write offs
Adjusted PBT
Tax charges
Adjusted PAT
Equity dividend
Preference dividend
Dividend tax
Retained earnings
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
93.48
93.43
93.12
15.47
15.40
1.79
10,751.93
8,594.12
6,652.88
5,399.85
3,740.98
Secured loans
6,848.09
5,530.93
4,235.16
2,105.49
1,783.39
Unsecured loans
7,524.37
6,583.74
4,148.10
2,857.16
2,079.96
25,217.87
20,804.01
15,129.26
10,377.97
7,619.73
15,218.36
12,787.35
8,814.21
7,362.90
5,918.94
3,655.25
2,786.93
2,110.15
1,617.00
1,183.11
Net block
11,563.11
10,000.42
6,704.06
5,745.90
4,735.83
10,479.86
7,077.87
7,225.21
2,318.01
660.48
1,412.17
1,210.01
1,067.11
1,233.40
1,036.19
Sources of funds
Owner's fund
Reserves & surplus
Loan funds
Total
Uses of funds
Fixed assets
Gross block
Investments
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
10,102.97
8,200.13
5,175.50
5,189.28
3,299.57
8,340.24
5,687.61
5,045.64
4,111.64
2,115.48
1,762.73
2,512.52
129.86
1,077.64
1,184.09
3.19
3.02
3.02
3.14
25,217.87
20,804.01
15,129.26
10,377.97
7,619.73
1,412.17
1,210.01
1,067.11
1,233.40
1,036.19
7,406.67
11,034.95
8,733.08
4,967.08
5,476.85
9348.34
9342.69
9312.34
1546.53
1539.61
Net current assets


Total
Notes:
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Profit before tax
2,843.01
2,753.36
1,907.50
2,001.88
1,502.51
2,906.04
1,794.04
2,403.08
2,701.99
1,411.78
-4,992.84
-4,964.36
-5,811.69
-3,268.82
-927.48
2,072.63
3,161.78
3,159.75
297.88
40.64
-14.17
-8.54
-248.86
-268.95
524.94
49.74
60.10
308.96
577.91
52.97
35.57
51.56
60.10
308.96
577.91
Dividend
Year
Month
Dividend (%)
2012
Apr
160
2011
Apr
150
2010
May
125
2009
May
550
2008
May
250
2008
Jan
150
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2011
2012
Equity
Share
200.00
93.48
934833818
93.48
2010
2011
Equity
Share
200.00
93.43
934269031
93.43
2009
2010
Equity
Share
200.00
93.12
931234082
93.12
2008
2009
Equity
Share
20.00
15.47
154652683
15.47
2007
2008
Equity
Share
20.00
15.40
153961340
15.40
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
22.58
22.35
15.99
108.04
90.47
31.85
29.72
21.49
136.05
119.81
Per share ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Reported EPS (Rs)
22.58
22.09
15.89
99.35
80.34
31.85
29.45
21.39
127.36
109.69
1.60
1.50
1.25
5.50
4.00
43.46
39.41
27.44
170.57
149.12
116.01
92.95
72.41
349.96
243.78
116.01
92.95
72.41
349.96
243.78
142.13
102.15
78.90
496.46
348.67
87.46
67.83
327.99
230.73
30.57
38.57
34.78
34.35
42.76
24.04
31.36
27.80
28.71
34.35
15.66
21.04
19.59
19.50
22.79
22.10
28.29
26.49
26.71
33.99
19.46
24.04
22.08
30.87
37.11
19.46
23.76
21.94
28.38
32.95
17.47
20.11
18.06
25.01
26.60
0.78
0.86
0.84
0.77
0.90
Total debt/equity
1.33
1.39
1.24
0.91
1.03
43.00
41.76
44.58
52.18
49.29
Dividend per share
Leverage ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
0.57
0.74
0.83
1.04
0.90
Current ratio
1.21
1.44
1.03
1.26
1.56
0.68
0.78
0.64
1.04
1.25
Quick ratio
0.84
1.04
0.74
0.94
1.10
4.83
5.81
8.05
9.08
7.01
7.23
6.97
8.16
5.55
5.86
5.12
5.23
6.06
4.33
4.29
92.77
93.11
91.89
94.90
94.79
94.88
94.82
93.97
95.95
96.07
4.83
4.36
4.19
2.36
2.09
7.91
8.17
8.32
10.59
9.68
6.55
6.69
7.01
8.35
7.95
48.46
42.35
43.81
45.48
35.95
3.75
2.85
4.26
4.93
10.75
11.24
5.58
13.30
12.16
51.08
40.09
46.23
31.97
46.77
Liquidity ratios
Payout ratios
Coverage ratios
Component ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
0.69
0.69
0.74
0.64
0.66
82.98
83.02
83.30
23.Larsen & Toubro Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
53,265.95
43,656.71
36,870.19
33,856.54
24,946.11
Material consumed
13,916.66
11,812.83
10,016.52
9,211.27
7,510.29
24,925.08
20,241.57
17,247.39
16,115.56
10,998.08
3,506.72
2,884.53
2,379.14
1,998.02
1,535.44
285.20
350.43
306.22
312.10
320.12
2,843.26
2,526.65
1,873.59
2,102.05
1,354.37
-18.75
-37.87
-36.25
-24.48
-11.42
45,458.17
37,778.14
31,786.61
29,714.52
21,706.88
Operating profit
7,807.78
5,878.57
5,083.58
4,142.02
3,239.23
1,202.40
1,199.05
974.59
748.80
477.10
Adjusted PBDIT
9,010.18
7,077.62
6,058.17
4,890.82
3,716.33
Financial expenses
1,683.31
1,199.23
995.37
770.00
501.83
699.46
575.81
383.65
284.83
195.94
Income
Operating income
Expenses
Personnel expenses
Selling expenses
Cost of sales
Depreciation
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
23.41
30.95
21.16
15.66
Adjusted PBT
6,627.41
5,279.17
4,648.20
3,814.83
3,002.90
Tax charges
1,853.83
1,858.47
1,577.02
1,176.19
982.05
Adjusted PAT
4,773.58
3,420.70
3,071.18
2,638.64
2,020.85
-317.08
582.23
1,347.08
863.78
139.59
-3.89
-49.05
-45.13
-21.09
12.21
Reported net profit
4,452.61
3,953.88
4,373.13
3,481.33
2,172.65
4,558.29
4,061.17
4,473.63
3,585.64
2,250.89
Equity dividend
1,010.46
882.84
752.75
614.97
495.32
101.44
112.82
110.25
101.83
76.26
3,446.39
3,065.51
3,610.63
2,868.84
1,679.31
Other write offs
Non recurring items
Preference dividend
Dividend tax
Retained earnings
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
122.48
121.77
120.44
117.14
58.47
368.31
25.09
25,079.40
21,334.05
18,142.82
12,317.96
9,470.71
Sources of funds
Owner's fund
Reserves & surplus
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Secured loans
1,453.34
1,063.04
955.73
1,102.38
308.53
Unsecured loans
8,442.43
6,098.07
5,845.10
5,453.65
3,275.46
35,097.65
28,985.24
25,089.18
18,991.13
13,113.17
10,618.74
8,897.02
7,235.78
5,575.00
4,188.91
21.14
22.13
23.29
24.59
25.90
2,952.61
2,220.82
1,727.68
1,421.39
1,242.47
Net block
7,644.99
6,654.07
5,484.81
4,129.02
2,920.54
807.94
785.00
857.66
1,040.99
699.00
15,871.90
14,684.82
13,705.35
8,263.72
6,922.26
43,857.44
35,234.34
26,673.49
23,834.71
16,496.48
33,084.62
28,372.99
21,632.13
18,277.57
13,928.17
10,772.82
6,861.35
5,041.36
5,557.14
2,568.31
0.26
3.06
35,097.65
28,985.24
25,089.18
18,991.13
13,113.17
12,660.82
13,230.80
11,771.54
7,793.04
6,642.82
Loan funds
Total
Uses of funds
Fixed assets
Gross block
Investments
Net current assets

Total
Notes:
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
8,241.13
1,422.26
2,033.61
1,258.81
1,403.92
2,500.19
1,647.66
1,719.39
1,371.86
1,013.51
6123.99
6088.52
6021.95
5856.88
2923.27
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Profit before tax
6,255.33
5,832.91
5,880.67
3,940.41
3,155.47
1,081.58
3,861.30
5,482.75
1,478.57
1,945.24
-1,922.28
-2,437.98
-6,071.73
-3,308.53
-5,241.89
1,015.61
-1,124.84
1,245.56
1,640.79
3,166.68
174.91
298.48
656.58
-189.17
-129.97
1,730.35
1,431.87
775.29
964.46
1,094.43
1,905.26
1,730.35
1,431.87
775.29
964.46
Dividend
Year
Month
Dividend (%)
2012
May
825
2011
May
725
2010
May
625
2009
May
525
2008
May
750
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2011
2012
Equity
Share
325.00
122.48
612398899
122.48
2010
2011
Equity
Share
325.00
121.77
608852126
121.77
2009
2010
Equity
Share
325.00
120.44
602195408
120.44
2008
2009
Equity
Share
325.00
117.14
585687862
117.14
2007
2008
Equity
Share
325.00
58.47
292327390
58.47
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
77.95
56.18
51.00
45.05
69.13
89.37
66.02
57.88
50.28
76.37
Reported EPS (Rs)
72.77
65.01
72.66
59.45
74.35
84.19
74.85
79.54
64.67
81.59
Dividend per share
16.50
14.50
12.50
10.50
17.00
127.50
96.55
84.42
70.72
110.81
411.53
352.40
303.28
212.31
325.87
411.87
352.76
303.66
212.73
326.76
869.79
717.03
612.26
578.06
853.36
Per share ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
405.30
347.12
294.74
205.21
319.09
14.65
13.46
13.78
12.23
12.98
13.34
12.14
12.74
11.39
12.19
8.18
8.82
11.56
10.06
8.54
10.04
8.96
9.21
8.50
8.78
18.94
15.94
16.81
21.21
21.21
17.68
18.44
23.95
27.99
22.81
25.84
23.23
23.19
25.62
28.73
0.27
0.29
0.33
0.43
0.27
Total debt/equity
0.39
0.33
0.37
0.52
0.37
71.80
74.97
72.86
65.47
72.66
1.66
5.03
5.20
6.23
6.09
Current ratio
1.33
1.24
1.23
1.30
1.18
1.20
1.20
1.19
1.22
1.09
Quick ratio
1.26
1.18
1.15
0.96
0.86
31.82
29.73
28.73
6.01
6.00
Leverage ratios
Liquidity ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
24.95
25.15
19.72
20.58
26.29
21.56
21.84
18.01
18.92
23.96
76.71
70.90
71.91
72.84
71.72
79.69
75.24
75.25
75.66
74.40
1.81
1.78
1.95
2.23
1.61
5.35
5.90
6.09
6.35
7.41
4.06
4.80
5.81
5.92
5.75
27.14
28.34
26.01
27.51
33.09
0.53
0.80
0.83
0.92
1.28
15.12
14.58
18.62
21.70
22.67
38.88
36.78
54.43
44.34
39.78
0.35
0.38
0.42
0.35
0.38
73.43
73.86
74.67
76.77
53.71
Payout ratios
Coverage ratios
Component ratios
24.Mahindra & Mahindra Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
31,835.20
23,477.53
18,516.33
13,081.08
11,310.37
Income
Operating income
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
23,661.61
16,402.65
12,437.87
9,365.00
7,814.71
301.59
242.26
217.89
174.05
164.68
Personnel expenses
1,603.81
1,445.56
1,199.85
1,024.52
853.65
Selling expenses
1,187.29
1,037.56
802.02
575.34
804.51
1,384.64
959.17
901.45
700.45
561.66
-73.53
-50.87
-59.55
-42.83
-46.49
28,065.41
20,036.33
15,499.53
11,796.53
10,152.72
3,769.79
3,441.20
3,016.80
1,284.55
1,157.65
406.96
399.36
317.99
305.98
364.05
4,176.75
3,840.56
3,334.79
1,590.53
1,521.70
Financial expenses
162.75
70.86
156.85
134.12
87.59
Depreciation
576.14
413.86
370.78
291.51
238.66
0.59
3,437.86
3,355.84
2,807.16
1,164.90
1,194.86
727.00
857.51
759.00
199.69
303.40
2,710.86
2,498.33
2,048.16
965.21
891.46
168.03
163.77
-32.90
-173.33
211.91
72.49
48.97
2,878.89
2,662.10
2,087.75
840.85
1,103.37
Expenses
Material consumed
Cost of sales
Operating profit
Adjusted PBDIT
Other write offs
Adjusted PBT
Tax charges
Adjusted PAT
Non recurring items
Reported net profit
Equity dividend
Preference dividend
Dividend tax
Retained earnings
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
9,087.43
7,250.47
5,453.07
3,807.00
3,228.45
767.48
706.08
549.52
278.83
282.61
101.13
96.56
74.23
33.23
38.48
8,218.82
6,447.83
4,829.32
3,494.94
2,907.36
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
294.52
293.62
282.95
272.62
239.07
33.97
8.01
11,799.26
9,974.62
7,527.60
4,959.26
4,098.53
400.18
407.23
602.45
981.00
617.26
2,774.04
1,998.06
2,277.70
3,071.76
1,969.80
15,268.00
12,707.50
10,698.71
9,284.64
6,924.66
8,063.18
5,849.27
4,866.18
4,653.66
3,552.64
Sources of funds
Owner's fund
Reserves & surplus
Loan funds
Secured loans
Unsecured loans
Total
Uses of funds
Fixed assets
Gross block
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
10.91
11.18
11.67
12.09
12.47
3,552.36
2,841.73
2,537.77
2,326.29
1,841.68
Net block
4,499.91
2,996.36
2,316.74
2,315.28
1,698.49
922.26
1,364.31
1,374.31
886.96
649.94
10,310.46
9,325.29
6,398.02
5,786.41
4,215.06
8,302.37
6,317.09
6,224.56
5,081.20
3,816.41
8,767.00
7,295.55
5,619.04
4,797.76
3,468.77
-464.63
-978.46
605.52
283.44
347.64
4.12
12.55
13.53
15,268.00
12,707.50
10,698.71
9,284.64
6,924.66
6,674.89
5,479.48
4,806.15
4,305.50
1,429.16
14,508.74
15,867.60
12,216.75
3,218.81
7,669.90
2,633.99
2,632.10
2,020.79
1,220.39
985.35
5890.30
5872.47
5659.08
2726.16
2390.73
Investments
Net current assets
Total
Notes:
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Profit before tax
3,497.62
3,402.13
2,756.00
1,026.20
1,241.57
2,734.95
2,979.75
2,336.49
1,631.30
825.83
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
-1,936.54
-3,734.99
-1,345.44
-1,941.00
-2,075.08
-306.15
-383.72
-783.87
696.91
811.34
492.26
-1,138.96
207.18
387.21
-437.91
695.97
1,753.13
1,543.63
1,174.62
1,361.79
1,188.23
614.17
1,750.81
1,561.83
923.88
Dividend
Year
Month
Dividend (%)
2012
May
250
2011
May
230
2010
May
190
2009
May
100
2008
May
115
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2011
2012
Equity
Share
600.00
294.51
289029645
144.51
2011
2012
Equity
Share
600.00
294.51
589029645
294.51
2010
2011
Equity
Share
600.00
293.62
587247117
293.62
2009
2010
Equity
Share
600.00
289.22
578434478
289.22
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2008
2009
Equity
Share
600.00
278.82
278821265
10
278.82
2007
2008
Equity
Share
375.00
245.74
245741813
10
245.74
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
46.02
42.54
36.19
35.41
37.29
55.80
49.59
42.74
46.10
47.30
Reported EPS (Rs)
48.88
45.33
36.89
30.69
46.15
58.66
52.38
43.44
41.39
56.16
Dividend per share
12.50
11.50
9.50
10.00
11.50
64.00
58.60
53.31
47.12
48.42
205.32
174.85
137.95
191.45
180.87
205.50
175.04
138.15
191.90
181.39
540.47
399.79
327.20
479.84
473.09
195.40
165.14
120.24
170.32
168.36
11.84
14.65
16.29
9.81
10.23
10.03
12.89
14.29
7.59
8.12
8.92
11.14
11.08
6.25
9.45
Per share ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
10.19
12.19
12.84
9.38
9.68
22.41
24.33
26.23
18.49
20.61
23.80
25.92
26.74
16.03
25.51
23.58
27.05
27.73
14.51
19.64
0.26
0.31
0.46
0.83
0.62
Total debt/equity
0.26
0.23
0.36
0.77
0.59
79.20
81.02
73.05
56.34
62.63
2.27
4.08
3.85
2.84
3.22
Current ratio
0.94
0.86
1.11
1.06
1.10
0.94
0.86
1.11
0.90
0.86
Quick ratio
0.65
0.60
0.86
0.83
0.74
14.99
15.64
17.91
14.56
12.49
30.17
30.15
29.87
37.29
29.10
25.14
26.09
25.37
27.65
23.91
67.96
67.88
69.55
67.67
63.99
73.58
72.44
74.22
75.17
71.61
Leverage ratios
Liquidity ratios
Payout ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
0.96
0.82
1.19
3.22
2.29
25.66
54.20
21.26
11.86
17.37
22.23
44.41
16.67
9.41
16.33
76.20
70.72
67.30
70.39
70.41
3.72
4.41
4.33
4.39
7.11
5.83
4.68
4.11
5.28
7.81
3.48
1.79
1.51
1.39
1.59
0.64
0.68
0.61
0.63
0.63
57.92
58.10
60.29
62.58
71.36
Coverage ratios
Component ratios
25.NTPC Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
62,052.23
54,938.68
46,377.70
41,975.20
37,091.00
45.24
31.33
31.10
31.00
26.80
43,700.89
37,069.51
30,785.70
28,232.30
23,080.70
3,090.48
3,395.27
2,946.80
2,897.60
2,229.30
Income
Operating income
Expenses
Material consumed
Personnel expenses
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
174.22
65.10
57.50
45.00
1,478.12
2,676.34
977.60
851.10
726.80
-1,052.98
-866.90
-637.40
-544.70
Cost of sales
48,314.73
42,293.69
33,939.40
31,432.10
25,563.90
Operating profit
13,737.50
12,644.99
12,438.30
10,543.10
11,527.10
2,778.42
2,477.56
2,859.60
3,307.00
2,957.60
16,515.92
15,122.55
15,297.90
13,850.10
14,484.70
Financial expenses
1,711.64
2,027.21
1,861.90
1,737.00
1,982.20
Depreciation
2,791.70
2,485.69
2,650.10
2,364.50
2,138.50
4.50
4.30
3.60
3.10
12,012.58
10,605.15
10,781.60
9,745.00
10,360.90
Tax charges
3,241.49
2,630.54
2,682.70
2,554.70
2,994.20
Adjusted PAT
8,771.09
7,974.61
8,098.90
7,190.30
7,366.70
Non recurring items
325.00
47.92
13.20
-294.20
162.10
452.64
1,330.06
616.10
1,305.20
-114.00
Reported net profit
9,548.73
9,352.59
8,728.20
8,201.30
7,414.80
9,581.07
9,382.18
8,743.30
8,222.40
7,504.70
Equity dividend
3,298.19
3,133.26
3,133.20
2,968.30
2,885.90
Selling expenses
Adjusted PBDIT
Other write offs
Adjusted PBT
Preference dividend
Dividend tax
Retained earnings
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
527.92
514.77
527.60
501.70
490.50
5,754.96
5,734.15
5,082.50
4,752.40
4,128.30
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
8,245.46
8,245.46
8,245.50
8,245.50
8,245.50
65,045.71
60,138.66
55,478.60
50,749.40
46,021.90
9,156.30
9,910.68
9,079.90
8,969.60
7,314.70
38,182.03
33,277.56
28,717.10
25,598.20
19,875.90
1,20,629.50
1,11,572.36
1,01,521.10
93,562.70
81,458.00
81,723.52
72,583.94
66,663.80
62,353.00
53,368.00
36,465.12
33,519.19
32,088.80
29,415.30
27,274.30
Net block
45,258.40
39,064.75
34,575.00
32,937.70
26,093.70
41,827.82
38,441.84
32,290.60
26,404.90
22,478.30
Sources of funds
Owner's fund
Reserves & surplus
Loan funds
Secured loans
Unsecured loans
Total
Uses of funds
Fixed assets
Gross block
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
11,206.38
12,344.84
14,807.10
13,983.50
15,267.20
42,545.20
35,396.79
30,815.70
30,925.30
30,527.80
20,208.30
13,675.86
10,967.30
10,688.70
12,909.00
22,336.90
21,720.93
19,848.40
20,236.60
17,618.80
1,20,629.50
1,11,572.36
1,01,521.10
93,562.70
81,458.00
11,194.38
12,332.84
14,795.10
13,785.00
15,453.10
73.32
100.92
133.60
275.50
304.30
42,308.16
33,227.29
40,044.00
66,083.20
29,361.80
82454.64
82454.64
82454.64
82454.64
82454.64
Investments
Net current assets

Total
Notes:
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Profit before tax
12,326.16
10,410.88
10,807.60
9,467.80
10,529.40
13,866.57
11,095.20
10,594.20
9,688.10
10,171.10
-11,036.61
-7,658.85
-10,497.70
-7,500.40
-6,203.80
-2,869.11
-1,710.57
-1,908.60
-849.30
-2,348.70
-39.15
1,725.78
-1,812.10
1,338.40
1,618.60
16,185.26
14,459.48
16,271.60
14,933.20
13,314.60
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
16,146.11
16,185.26
14,459.50
16,271.60
14,933.20
Dividend
Year
Month
Dividend (%)
2012
May
2012
Jan
35
2011
May
2011
Jan
30
2010
May
2010
Feb
30
2009
May
2009
Jan
28
2008
May
2008
Jan
27
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2011
2012
Equity
Share
10,000.00
8,245.46
8245464400
10
8,245.46
2010
2011
Equity
Share
10,000.00
8,245.46
8245464400
10
8,245.46
2009
2010
Equity
Share
10,000.00
8,245.46
8245464400
10
8,245.46
2008
2009
10,000.00
8,245.46
8245464400
10
8,245.46
Equity
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
10,000.00
8,245.46
8245464400
10
8,245.46
Share
2007
2008
Equity
Share
(Rs crore)
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
10.64
9.67
9.82
8.72
8.93
14.02
12.69
13.04
11.59
11.53
Reported EPS (Rs)
11.19
11.04
10.59
9.95
8.99
14.57
14.06
13.80
12.82
11.59
4.00
3.80
3.80
3.60
3.50
16.66
15.34
15.09
12.79
13.98
88.89
82.94
77.28
71.55
65.81
88.89
82.94
77.28
71.55
65.81
75.26
66.63
56.25
50.91
44.98
69.08
62.75
56.25
52.34
22.13
23.01
26.81
25.11
31.07
17.63
18.49
21.10
19.48
25.31
Per share ratios
Dividend per share
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
14.22
15.85
17.72
18.11
18.51
17.83
18.22
21.83
21.10
23.74
11.96
11.66
12.70
12.18
13.57
12.58
13.31
13.69
13.90
13.66
11.37
11.32
12.45
12.27
15.15
0.64
0.63
0.59
0.58
0.50
Total debt/equity
0.64
0.63
0.59
0.58
0.50
60.75
61.29
62.76
63.05
66.62
0.53
0.76
0.69
0.67
0.69
Current ratio
2.11
2.59
2.81
2.89
2.36
2.11
2.59
2.81
2.89
2.36
Quick ratio
1.92
2.32
2.50
2.59
2.16
16.87
29.18
27.54
28.21
33.59
41.48
40.07
41.94
42.31
45.53
31.84
31.46
32.16
32.83
35.33
56.38
54.26
54.80
51.75
54.17
66.92
65.14
65.96
63.70
64.49
Leverage ratios
Liquidity ratios
Payout ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
4.09
4.13
3.51
3.62
2.86
9.65
7.46
8.22
7.97
7.31
8.02
6.72
7.11
7.08
5.82
0.07
0.05
0.06
0.07
0.07
0.31
0.14
0.13
0.12
0.69
0.71
0.72
0.70
0.67
Coverage ratios
Component ratios
26.Oil And Natural Gas Corporation Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
76,515.09
66,164.34
60,251.77
64,003.99
60,065.10
2,359.64
2,777.77
2,313.84
10,824.41
8,310.21
581.93
32,384.37
26,913.20
19,849.28
17,501.66
6,796.05
6,445.18
5,618.16
4,536.80
5,843.27
Income
Operating income
Expenses
Material consumed
Personnel expenses
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
6,812.24
6,527.78
7,005.91
6,540.76
30,207.24
-22,749.34
-18,823.82
-10,465.65
-7,871.06
Cost of sales
39,944.85
25,670.22
22,549.17
31,750.75
30,324.84
Operating profit
36,570.24
40,494.12
37,702.60
32,253.25
29,740.26
4,452.98
5,431.11
3,363.33
4,604.51
4,341.02
41,023.22
45,925.23
41,065.94
36,857.76
34,081.28
34.83
11,133.34
11,276.89
8,485.40
5,016.88
7,495.92
6,835.01
5,242.66
4,355.62
3,915.77
Adjusted PBT
33,492.47
27,956.88
24,546.39
24,016.74
25,148.64
Tax charges
12,137.07
9,177.53
8,258.73
8,437.78
8,941.85
Adjusted PAT
21,355.41
18,779.35
16,287.66
15,578.96
16,206.78
3,140.55
-403.04
252.63
-518.92
-112.39
626.97
547.70
183.99
790.68
607.25
Reported net profit
25,122.92
18,924.00
16,724.28
15,850.72
16,701.65
25,122.92
18,924.03
16,724.30
15,850.81
16,701.69
8,341.61
7,486.05
7,058.28
6,844.39
6,844.39
Selling expenses
Adjusted PBDIT
Financial expenses
Depreciation
Other write offs
Non recurring items
Equity dividend
Preference dividend
Dividend tax
Retained earnings
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
1,328.62
1,215.65
1,161.56
1,163.20
1,163.21
15,452.69
10,222.33
8,504.46
7,843.21
8,694.09
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
4,277.76
4,277.76
2,138.89
2,138.89
2,138.89
1,08,678.97
93,226.67
85,143.72
76,596.53
68,478.51
4,500.00
17,564.26
16,405.64
16,035.70
12,482.71
1,17,456.73
1,15,068.69
1,03,688.25
94,771.12
83,100.11
1,91,914.75
80,938.60
71,553.78
61,355.61
57,463.78
1,23,857.78
62,299.05
55,905.28
50,941.23
46,945.77
68,056.97
18,639.55
15,648.50
10,414.37
10,518.01
Sources of funds
Owner's fund
Reserves & surplus
Loan funds
Secured loans
Unsecured loans
Total
Uses of funds
Fixed assets
Gross block
Net block
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
26,879.29
65,354.44
56,073.25
52,923.19
41,154.63
Investments
14,398.82
5,332.84
5,772.03
5,090.32
5,899.50
62,392.53
95,105.34
89,690.14
83,204.71
69,165.19
54,270.87
70,159.50
64,337.00
57,512.08
44,311.12
8,121.66
24,945.84
25,353.15
25,692.62
24,854.07
796.03
841.32
650.61
673.90
1,17,456.73
1,15,068.69
1,03,688.25
94,771.12
83,100.11
2,497.33
2,576.36
3,015.56
2,333.84
3,143.02
18,034.91
19,167.92
19,090.78
11,143.95
16,943.91
40,781.65
38,979.63
39,178.54
36,024.57
26,006.73
85554.90
85554.90
21388.73
21388.73
21388.73
Net current assets
Total
Notes:
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Profit before tax
36,642.57
27,618.97
24,983.84
23,895.42
25,234.70
35,919.31
32,756.85
20,388.01
22,272.74
21,527.63
-26,316.98
-16,818.70
-13,237.10
-17,459.91
-10,239.43
-3,958.85
-11,722.63
-8,016.08
-8,134.27
-8,151.34
5,643.48
4,215.52
-865.18
-3,321.44
3,136.86
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
14,481.09
18,231.04
19,096.21
22,417.66
19,280.79
20,124.57
22,446.55
18,231.04
19,096.21
22,417.66
Dividend
Year
Month
Dividend (%)
2012
Dec
100
2012
May
40
2012
Feb
30
2011
Dec
125
2011
May
15
2010
Dec
320
2010
May
150
2009
Nov
180
2009
Jun
140
2008
Dec
180
2008
Jun
140
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2011
2012
Equity
Share
15,000.00
4,277.76
8555490120
4,277.75
2010
2011
Equity
Share
15,000.00
4,277.76
8555490120
4,277.75
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2009
2010
Equity
Share
15,000.00
2,138.89
2138872530
10
2,138.87
2008
2009
Equity
Share
15,000.00
2,138.89
2138872530
10
2,138.87
2007
2008
Equity
Share
15,000.00
2,138.89
2138872530
10
2,138.87
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
24.96
21.95
76.15
72.84
75.77
33.72
29.94
100.66
93.20
94.08
Reported EPS (Rs)
29.36
22.12
78.39
75.40
78.09
38.13
30.11
102.91
95.76
96.39
9.75
8.75
33.00
32.00
32.00
42.74
47.33
176.27
150.80
139.05
132.03
113.04
404.14
365.07
327.01
132.03
113.04
404.14
365.07
327.01
89.43
77.34
281.70
299.24
280.83
108.01
392.88
353.81
315.74
47.79
61.20
62.57
50.39
49.51
37.99
50.87
53.87
43.58
42.99
Per share ratios
Dividend per share
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
31.02
26.43
26.35
23.50
25.93
35.63
35.77
33.84
29.05
31.24
18.90
19.41
18.84
19.95
23.17
22.24
19.56
19.39
20.65
23.87
29.68
33.97
34.54
34.29
36.30
0.18
0.18
0.20
0.17
0.03
0.18
0.18
0.20
0.17
96.16
84.73
84.17
83.07
84.97
0.65
0.60
0.84
1.05
1.05
Current ratio
1.15
1.36
1.39
1.45
1.56
0.98
1.36
1.39
1.45
1.56
Quick ratio
1.05
1.20
1.22
1.27
1.39
14.88
94.69
87.82
111.98
122.77
38.49
45.98
49.02
49.65
47.94
29.64
33.78
37.34
39.09
38.83
54.72
53.67
49.54
48.60
50.60
66.49
66.03
61.83
59.84
60.21
Leverage ratios
Total debt/equity
Liquidity ratios
Payout ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
0.15
0.68
0.76
0.80
0.62
1,177.81
4.13
3.64
4.34
6.79
937.52
3.31
2.95
3.41
5.11
3.20
4.21
4.03
17.03
14.02
10.29
10.83
10.94
10.88
8.25
7.12
7.61
5.36
6.31
27.05
23.34
20.13
17.60
17.41
0.63
0.48
0.46
0.44
0.45
91.83
91.83
83.66
83.66
83.66
Coverage ratios
Component ratios
27.Sterlite Industries (India) Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
18,091.58
15,292.57
13,114.88
11,548.38
12,673.58
16,114.64
13,818.95
11,838.79
9,934.71
11,172.90
520.14
504.05
460.08
455.43
386.08
92.09
88.57
77.28
82.28
66.18
126.38
86.83
91.90
95.66
73.10
Income
Operating income
Expenses
Material consumed
Personnel expenses
Selling expenses
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
121.52
106.63
117.93
75.21
128.86
16,974.77
14,605.03
12,585.98
10,643.29
11,827.12
Operating profit
1,116.81
687.54
528.90
905.09
846.46
1,946.37
1,162.50
1,008.98
746.56
583.96
Adjusted PBDIT
3,063.18
1,850.04
1,537.88
1,651.65
1,430.42
Financial expenses
512.96
273.91
256.44
203.92
164.45
Depreciation
162.46
152.65
150.64
166.18
138.98
2,387.76
1,423.48
1,130.80
1,281.55
1,126.99
361.18
460.56
133.58
148.72
152.84
2,026.58
962.92
997.22
1,132.83
974.15
-379.92
449.43
-186.99
52.76
-37.50
10.82
7.36
-32.27
50.84
14.98
Reported net profit
1,657.48
1,419.71
777.96
1,236.43
951.63
4,746.96
4,010.69
3,461.37
3,180.53
2,378.56
672.24
369.73
315.15
247.97
283.40
14.03
59.98
52.34
42.15
48.16
Cost of sales
Other write offs
Adjusted PBT
Tax charges
Adjusted PAT
Non recurring items
Equity dividend
Preference dividend
Dividend tax
Retained earnings
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
4,060.69
3,580.98
3,093.88
2,890.41
2,047.00
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
336.12
336.12
168.08
141.70
141.70
24,389.67
22,873.03
22,067.40
13,897.32
13,014.60
Secured loans
1,765.12
1,569.44
100.00
303.80
572.05
Unsecured loans
3,565.11
4,191.59
5,222.20
3,526.24
2,685.76
30,056.02
28,970.18
27,557.68
17,869.06
16,414.11
3,036.54
2,972.76
2,981.87
2,889.07
2,765.34
11.59
19.75
32.60
0.82
8.72
1,635.19
1,505.55
1,421.05
1,275.41
1,109.85
Net block
1,389.76
1,447.46
1,528.22
1,612.84
1,646.77
1,092.91
720.35
265.81
32.16
52.49
Investments
8,536.97
6,237.85
10,984.17
11,661.85
12,357.03
Sources of funds
Owner's fund
Reserves & surplus
Loan funds
Total
Uses of funds
Fixed assets
Gross block
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
23,294.14
24,863.58
16,922.74
6,544.25
4,475.96
4,257.76
4,299.06
2,143.26
1,982.04
2,118.14
19,036.38
20,564.52
14,779.48
4,562.21
2,357.82
30,056.02
28,970.18
27,557.68
17,869.06
16,414.11
7,418.72
6,212.94
10,946.41
11,641.60
12,320.60
36,294.96
37.76
20.25
36.43
18,534.15
18,727.22
9,957.57
6,696.82
2,825.95
33612.08
33612.08
8404.00
7084.94
7084.94
Net current assets


Total
Notes:
(Rs crore)
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Profit before tax
2,007.84
1,874.28
947.80
1,339.15
1,104.47
1,288.58
265.11
-128.05
1,976.24
855.42
943.73
-436.53
-8,623.91
-1,822.17
-9,397.55
-1,920.60
153.55
8,780.08
-163.21
8,387.04
311.71
-17.87
28.12
-9.14
-155.09
68.82
95.96
67.84
76.98
232.07
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
380.53
78.09
95.96
67.84
76.98
Dividend
Year
Month
Dividend (%)
2012
Oct
110
2012
Apr
100
2011
Oct
100
2011
Apr
110
2010
Apr
188
2009
Apr
175
2008
Apr
200
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2011
2012
Equity
Share
500.00
336.12
3361207534
336.12
2010
2011
Equity
Share
500.00
336.12
3361207534
336.12
2009
2010
Equity
Share
185.00
168.08
840400422
168.08
2008
2009
Equity
Share
185.00
141.70
708494411
141.70
2007
2008
Equity
Share
185.00
141.70
708494411
141.70
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
6.03
2.86
11.87
15.99
13.75
6.51
3.32
13.66
18.33
15.71
Reported EPS (Rs)
4.93
4.22
9.89
17.45
13.43
5.41
4.68
11.69
19.80
15.39
Dividend per share
2.00
1.10
3.75
3.50
4.00
3.32
2.05
6.29
12.77
11.95
73.56
69.05
264.58
198.15
185.69
73.60
69.11
264.97
198.16
185.82
53.82
45.50
156.06
163.00
178.88
72.29
67.68
260.78
194.80
182.38
6.17
4.49
4.03
7.83
6.67
5.27
3.49
2.88
6.39
5.58
8.27
8.62
5.88
10.05
7.17
10.92
6.77
8.12
10.56
8.39
8.19
4.14
4.48
8.06
7.40
6.70
6.11
3.73
8.80
7.23
10.74
6.39
5.59
10.39
9.59
Per share ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
0.09
0.14
0.11
0.01
0.02
Total debt/equity
0.21
0.24
0.23
0.27
0.24
82.26
80.11
80.68
78.56
80.15
0.61
5.16
4.41
4.00
4.58
Current ratio
5.47
5.78
7.90
3.30
2.11
2.58
3.02
3.43
1.13
0.80
Quick ratio
4.87
5.04
6.96
2.59
1.02
7.67
5.16
7.02
8.98
5.94
41.40
30.26
44.19
23.46
34.84
37.70
27.32
37.41
20.68
30.40
66.14
55.38
63.15
74.39
65.97
68.65
61.49
67.99
77.67
70.22
2.43
5.16
4.64
2.95
2.93
5.97
6.75
6.00
8.10
8.70
4.55
6.74
4.83
7.88
7.63
89.45
92.29
92.86
83.28
89.19
Leverage ratios
Liquidity ratios
Payout ratios
Coverage ratios
Component ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
0.69
0.56
0.70
0.82
0.57
47.15
43.50
45.33
39.66
55.82
98.33
98.19
97.25
3.98
2.60
0.32
0.25
0.43
0.67
0.75
69.15
69.15
38.30
45.44
45.44
28.State Bank of India - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
1,19,208.98
95,525.58
85,909.36
74,880.76
56,821.55
Material consumed
16,974.04
14,480.17
12,754.65
9,747.31
7,785.87
206.63
257.88
224.05
251.23
173.23
19,375.25
15,702.33
11,029.66
7,361.98
5,970.47
Cost of sales
36,555.92
30,440.38
24,008.35
17,360.52
13,929.57
Operating profit
19,422.68
16,217.24
14,578.54
14,604.94
10,962.90
1,024.79
1,065.14
1,051.15
894.26
901.33
Income
Operating income
Expenses
Personnel expenses
Selling expenses
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted PBDIT
20,447.47
17,282.39
15,629.69
15,499.20
11,864.23
Financial expenses
63,230.37
48,867.96
47,322.48
42,915.29
31,929.08
1,007.17
990.50
932.66
763.14
679.98
-43,790.06
-32,576.07
-32,625.45
14,736.06
-20,744.83
6,341.37
5,709.54
6,166.62
6,115.12
3,929.20
11,730.15
8,283.03
9,176.51
9,124.18
6,718.08
-44.15
-912.68
-10.46
-2.95
11.04
21.28
Reported net profit
11,707.29
7,370.35
9,166.05
9,121.23
6,729.12
11,713.34
7,370.69
9,166.39
9,121.57
6,729.46
2,348.66
1,905.00
1,904.65
1,841.15
1,357.66
296.49
246.52
236.76
248.03
165.87
9,068.19
5,219.17
7,024.99
7,032.38
5,205.94
Depreciation
Other write offs
Adjusted PBT
Tax charges
Adjusted PAT
Non recurring items
Equity dividend
Preference dividend
Dividend tax
Retained earnings
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
671.04
635.00
634.88
634.88
631.47
Sources of funds
Owner's fund
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
83,280.16
64,351.04
65,314.32
57,312.82
48,401.19
Unsecured loans
############
9,33,932.81
8,04,116.23
7,42,073.13
5,37,403.94
Total
############
9,98,918.86
8,70,065.43
8,00,020.82
5,86,436.60
14,792.33
13,189.28
11,831.63
10,403.06
8,988.35
9,658.46
8,757.33
7,713.90
6,828.65
5,849.13
Net block
5,133.87
4,431.96
4,117.72
3,574.41
3,139.22
332.68
332.23
295.18
263.44
234.26
3,12,197.61
2,95,600.57
2,85,790.07
2,75,953.96
1,89,501.27
53,113.02
43,777.85
35,112.76
37,733.27
44,417.03
80,915.09
1,05,248.39
80,336.70
1,10,697.57
83,362.30
-27,802.08
-61,470.54
-45,223.94
-72,964.30
-38,945.27
Reserves & surplus
Loan funds
Secured loans
Uses of funds
Fixed assets
Gross block
Investments
Net current assets
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
2,89,862.08
2,38,894.22
2,44,979.03
2,06,827.50
1,53,929.48
8,99,565.18
7,90,386.79
5,96,366.41
7,67,567.52
8,29,740.48
6710.45
6349.99
6348.83
6348.80
6314.70
Total
Notes:
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
18,483.31
14,954.23
13,926.10
14,180.64
10,438.90
-28,468.59
34,282.52
-1,804.99
29,479.73
-856.87
-1,648.56
-1,245.53
-1,761.52
-1,651.93
-2,798.01
2,147.66
2,057.11
-3,359.67
5,097.38
19,371.12
Net inc/dec in cash and equivlnt
-25,710.98
35,094.10
-6,926.18
32,925.18
15,497.65
Cash and equivalnt begin of year
1,22,874.15
87,780.05
1,03,110.02
71,478.62
51,968.69
97,163.16
1,22,874.15
96,183.84
1,04,403.80
67,466.34
Profit before tax
Net cashflow-operating activity
Netcash used in fin. activity
Cash and equivalnt end of year
Dividend
Year
Month
Dividend (%)
2012
May
350
2011
May
300
2010
May
200
2010
Jan
100
Year
Month
Dividend (%)
2009
May
290
2008
May
215
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2011
2012
Equity
Share
5,000.00
671.13
671044838
10
671.04
2010
2011
Equity
Share
5,000.00
635.08
634998991
10
635.00
2009
2010
Equity
Share
1,000.00
634.97
634882644
10
634.88
2008
2009
Equity
Share
1,000.00
634.97
634880222
10
634.88
2007
2008
Equity
Share
1,000.00
631.56
631470376
10
631.47
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
174.80
130.44
144.54
143.71
106.39
189.81
146.04
159.23
155.74
117.16
Reported EPS (Rs)
174.46
130.15
144.37
143.67
106.56
189.47
145.75
159.06
155.69
117.33
35.00
30.00
30.00
29.00
21.50
289.44
255.39
229.63
230.04
173.61
Per share ratios
Dividend per share
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
1,251.05
1,023.40
1,038.76
912.73
776.48
1,251.05
1,023.40
1,038.76
912.73
776.48
1,776.47
1,504.34
1,353.15
1,179.45
899.83
645.05
468.29
412.36
373.99
356.61
16.29
16.97
16.96
19.50
19.29
15.44
15.93
15.88
18.48
18.09
9.73
8.55
10.54
12.03
11.65
10.59
9.60
11.62
13.04
12.81
13.97
12.74
13.91
15.74
13.70
13.94
12.71
13.89
15.74
13.72
96.84
96.72
95.02
100.35
86.83
12.43
14.37
12.19
12.81
10.96
7.44
6.50
7.57
7.24
8.36
0.10
7.24
7.26
7.20
6.32
Current ratio
0.65
0.41
0.43
0.34
0.53
0.04
0.04
0.03
0.04
0.07
Leverage ratios
Total debt/equity
Liquidity ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
12.05
8.50
9.07
5.74
6.15
22.59
26.03
23.36
22.90
22.64
20.80
23.24
21.20
21.13
20.56
77.45
74.03
76.67
77.11
77.33
79.24
76.80
78.82
78.88
79.41
81.94
100.71
79.54
75.05
72.64
0.32
0.35
0.33
1.36
0.37
1.20
1.19
1.21
1.23
1.23
0.17
0.26
0.26
0.33
0.30
0.85
0.87
0.89
0.88
0.81
Quick ratio
Payout ratios
Coverage ratios
Component ratios
29.Sun Pharmaceutical Industries Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
4,015.56
1,933.39
1,845.09
2,774.65
2,368.51
1,176.06
930.84
847.55
1,938.11
1,547.23
103.62
102.21
100.28
94.37
72.57
Personnel expenses
316.56
214.06
174.71
148.31
120.20
223.35
196.89
237.07
189.80
660.70
310.04
274.14
275.97
240.17
Cost of sales
2,256.94
1,780.50
1,593.57
2,693.83
2,169.97
Operating profit
1,758.62
152.89
251.52
80.82
198.54
342.85
1,325.52
798.35
1,249.85
901.30
2,101.47
1,478.41
1,049.87
1,330.67
1,099.84
0.59
0.44
2.77
5.06
75.72
64.23
69.47
58.86
56.11
Income
Operating income
Expenses
Material consumed
Selling expenses
Adjusted PBDIT
Financial expenses
Depreciation
Other write offs
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
2,025.75
1,413.59
979.96
1,269.04
1,038.67
97.77
70.22
50.51
30.12
38.16
1,927.98
1,343.37
929.45
1,238.92
1,000.51
40.43
-32.37
26.37
13.53
11.62
1.57
11.70
Reported net profit
1,939.60
1,383.80
898.65
1,276.99
1,014.04
4,291.30
3,272.95
2,521.24
2,405.78
1,684.88
440.12
362.45
284.79
284.79
217.47
0.05
71.40
58.80
47.30
48.40
37.20
3,779.78
2,851.70
2,189.15
2,072.59
1,430.16
Adjusted PBT
Tax charges
Adjusted PAT
Non recurring items
Equity dividend
Preference dividend
Dividend tax
Retained earnings
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
103.56
103.56
103.56
103.56
103.56
8,005.05
6,576.97
5,614.42
5,047.86
4,104.06
Sources of funds
Owner's fund
Reserves & surplus
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
40.30
50.53
29.49
23.60
22.88
79.64
8,148.91
6,731.06
5,747.47
5,175.02
4,310.14
1,542.19
1,268.76
1,159.76
1,061.90
935.03
538.89
474.37
419.24
362.64
304.99
1,003.30
794.39
740.52
699.26
630.04
248.87
228.06
92.15
75.95
33.43
4,057.21
3,601.42
3,951.69
2,694.59
1,843.57
4,060.74
2,989.66
1,694.04
2,743.66
2,911.62
1,221.21
882.47
730.93
1,038.44
1,108.52
2,839.53
2,107.19
963.11
1,705.22
1,803.10
8,148.91
6,731.06
5,747.47
5,175.02
4,310.14
3,983.23
3,498.78
3,580.97
2,664.20
1,808.96
Loan funds
Secured loans
Unsecured loans
Total
Uses of funds
Fixed assets
Gross block
Net block
Investments
Net current assets
Total
Notes:
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
75.36
266.97
571.22
150.04
603.19
530.57
175.34
184.22
85.36
72.08
10355.82
10355.82
2071.16
2071.16
2071.16
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Profit before tax
2,025.75
1,454.02
949.16
1,295.40
1,052.20
1,341.13
1,230.93
658.12
1,262.49
626.13
-775.64
-1,105.74
-170.88
-660.37
-743.49
-420.21
-310.95
-327.34
-325.67
-6.06
145.28
-185.76
159.90
276.45
-123.42
23.44
207.91
48.00
977.31
1,208.48
168.72
22.15
207.90
1,253.76
1,085.06
Dividend
Year
Month
Dividend (%)
2012
Aug
425
2011
May
350
2010
May
275
2009
Jun
275
2008
May
210
Capital structure
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2010
2011
Equity
Share
150.00
103.56
1035581955
103.56
2009
2010
Equity
Share
150.00
103.56
207116391
103.56
2008
2009
Equity
Share
150.00
103.56
207116391
103.56
2007
2008
Equity
Share
147.50
103.56
207116391
103.56
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
18.62
12.97
44.88
59.82
48.30
19.35
13.59
48.23
62.66
51.01
Reported EPS (Rs)
18.62
13.36
43.39
61.09
48.96
19.35
13.98
46.74
63.93
51.67
4.25
3.50
13.75
13.75
10.50
16.98
1.48
12.14
3.90
9.59
78.30
64.51
276.08
248.72
203.15
78.30
64.51
276.08
248.72
203.15
38.78
18.67
89.08
133.97
114.36
63.11
269.08
241.72
196.16
Per share ratios
Dividend per share
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
43.79
7.90
13.63
2.91
8.38
41.90
4.58
9.86
0.79
6.01
44.23
42.46
33.99
31.43
31.01
45.97
43.19
37.78
32.24
32.31
23.77
20.10
16.25
24.05
23.77
23.77
20.71
15.71
24.56
24.09
24.98
21.16
17.14
24.68
24.34
0.01
Total debt/equity
0.01
0.01
0.02
99.50
99.24
99.48
99.54
97.62
0.53
1.58
1.65
2.73
2.66
Current ratio
3.33
3.39
2.32
2.64
2.63
3.12
3.04
2.14
2.53
2.52
Quick ratio
2.68
2.68
1.52
2.17
2.27
5.19
3.62
3.65
6.47
6.79
26.53
30.44
36.95
26.33
25.11
Leverage ratios
Liquidity ratios
Payout ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
25.52
29.09
34.30
25.16
23.79
73.47
68.65
64.28
73.11
74.55
74.48
70.08
66.76
74.33
75.90
0.02
0.03
0.02
0.01
0.09
2,505.78
2,386.07
480.39
217.36
2,455.29
2,201.27
479.03
212.49
31.32
48.04
47.61
70.70
66.05
11.55
10.67
8.54
8.01
36.47
46.57
46.11
29.84
37.79
39.93
41.44
44.38
41.63
40.06
0.56
0.60
0.73
0.55
0.45
78.03
78.03
78.03
78.03
78.03
Coverage ratios
Component ratios
30.Tata Power Company Ltd. - Research Center

Profit loss account
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
8,569.08
6,901.45
7,104.22
7,257.05
5,909.60
Income
Operating income
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
5,460.53
4,360.49
4,353.68
5,360.15
4,300.69
400.79
396.38
305.61
246.32
241.47
Personnel expenses
569.69
341.12
305.29
291.90
249.69
67.40
60.82
53.04
48.64
35.18
336.14
224.28
227.41
188.67
165.07
-57.04
-0.52
-3.15
-2.22
Cost of sales
6,777.51
5,383.09
5,244.51
6,132.53
4,989.88
Operating profit
1,791.57
1,518.36
1,859.71
1,124.52
919.72
831.73
464.44
252.34
226.62
151.40
2,623.30
1,982.80
2,112.05
1,351.14
1,071.12
Financial expenses
514.87
459.80
420.64
325.73
171.82
Depreciation
570.35
510.14
477.94
328.85
290.50
4.88
5.01
1,538.08
1,012.86
1,213.47
691.68
603.79
511.97
189.34
320.72
210.91
132.35
1,026.11
823.52
892.75
480.77
471.44
144.79
99.49
45.79
425.00
366.33
-9.10
18.48
-0.09
16.43
32.13
Expenses
Material consumed
Selling expenses
Adjusted PBDIT
Other write offs
Adjusted PBT
Tax charges
Adjusted PAT
Non recurring items
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Reported net profit
1,161.80
941.49
938.45
922.20
869.90
3,811.45
941.49
938.45
922.20
869.90
296.92
296.92
285.05
255.98
241.38
39.75
16.27
37.98
31.75
26.95
3,474.78
628.30
615.42
634.47
601.57
Equity dividend
Preference dividend
Dividend tax
Retained earnings
Balance sheet
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
237.33
237.33
237.33
221.44
220.72
60.99
11,519.66
10,938.25
10,295.03
8,422.06
7,771.12
Secured loans
4,951.27
4,753.91
4,105.38
3,931.71
2,331.09
Unsecured loans
4,245.86
2,299.78
1,858.04
1,315.35
752.26
20,954.12
18,229.27
16,495.78
13,890.56
11,136.18
Sources of funds
Owner's fund
Reserves & surplus
Loan funds
Total
Uses of funds
Fixed assets
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
12,497.45
10,518.92
10,010.80
8,985.86
6,481.99
5,299.75
4,735.98
4,258.06
3,795.32
3,476.50
Net block
7,197.70
5,782.94
5,752.74
5,190.54
3,005.49
833.13
1,469.50
476.21
761.16
1,681.74
9,792.68
7,939.91
6,688.62
5,443.47
4,430.00
7,259.07
6,131.32
6,048.75
4,771.43
3,956.73
4,128.46
3,094.40
2,470.54
2,276.04
1,939.47
3,130.61
3,036.92
3,578.21
2,495.39
2,017.26
1.69
20,954.12
18,229.27
16,495.78
13,890.56
11,136.18
9,325.85
7,473.08
6,277.64
5,106.03
3,736.23
563.51
640.96
803.00
719.95
910.02
825.97
1,229.25
849.43
978.44
1,231.68
23730.72
2373.07
2373.07
2214.24
2207.00
Gross block
Investments
Net current assets

Total
Notes:
Cash flow
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
1,682.87
1,112.35
1,259.26
1,116.68
970.12
620.84
1,674.51
1,352.85
648.61
1,126.25
-1,664.56
-2,623.36
-1,873.20
-2,220.52
-2,541.14
1,249.73
473.37
1,793.80
1,588.71
440.88
206.01
-475.48
1,273.45
16.80
-974.01
835.04
1,318.95
45.50
28.70
1,002.71
1,041.05
843.47
1,318.95
45.50
28.70
Profit before tax
Dividend
Year
Month
Dividend (%)
2012
May
125
2011
May
125
2010
May
120
2009
May
115
2008
Jun
105
Capital structure
From
Year
To
Year
Class Of
Share
2011
2012
Equity
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
300.00
242.95
2373072360
237.31
From
Year
To
Year
Class Of
Share
Authorized
Capital
Issued
Capital
Paid Up Shares
(Nos)
Paid Up Face
Value
Paid Up
Capital
2010
2011
Equity
Share
300.00
242.95
237307236
10
237.31
2009
2010
Equity
Share
300.00
242.95
237307236
10
237.31
2008
2009
Equity
Share
300.00
227.06
221424443
10
221.42
2007
2008
Equity
Share
300.00
226.34
220700162
10
220.70
Ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
Adjusted EPS (Rs)
4.32
34.70
37.62
21.71
21.36
6.73
56.20
57.76
36.78
34.75
Reported EPS (Rs)
4.93
39.67
39.93
41.65
39.42
7.33
61.17
60.07
56.72
52.81
Dividend per share
1.25
12.50
12.00
11.50
10.50
7.55
63.98
78.37
50.79
41.67
49.54
470.93
443.83
390.36
362.04
49.54
470.93
443.83
390.36
362.04
36.11
290.82
299.37
327.74
267.77
41.74
399.41
372.15
308.95
278.20
Per share ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
20.90
22.00
26.17
15.49
15.56
14.25
14.60
19.44
10.96
10.64
12.44
12.78
12.88
12.32
14.35
16.98
18.10
18.63
10.88
12.65
8.72
7.36
8.47
5.56
5.90
9.94
8.42
8.99
10.66
10.88
10.16
8.39
9.94
7.67
7.18
0.71
0.56
0.55
0.52
0.34
Total debt/equity
0.78
0.63
0.56
0.60
0.38
56.10
61.30
63.84
62.22
72.15
0.43
0.65
0.70
0.80
0.91
Current ratio
1.76
1.98
2.45
2.10
2.04
1.48
1.55
2.39
1.64
1.78
Quick ratio
1.53
1.74
2.17
1.77
1.75
14.50
17.79
18.98
15.49
18.70
28.78
33.26
34.08
31.20
30.84
Leverage ratios
Liquidity ratios
Payout ratios
Mar ' 12
Mar ' 11
Mar ' 10
Mar ' 09
Mar ' 08
19.34
21.57
22.65
22.90
23.02
67.19
61.97
63.82
40.16
43.09
78.92
76.52
76.44
64.68
65.02
5.76
5.29
4.35
6.44
4.02
5.09
4.31
5.02
4.15
6.23
4.38
4.16
4.39
4.86
7.78
63.72
63.18
61.28
73.86
72.76
0.78
0.88
0.74
0.67
0.59
7.37
1.70
0.78
4.47
0.31
0.71
0.71
0.68
0.70
0.69
0.47
0.47
0.47
0.51
0.51
Coverage ratios
Component ratios

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11.Bajaj Auto Ltd.

Other recurring income

Other write offs

Non recurring items

Other non cash adjustments

Reported net profit

Earnings before appropriation

Share application money

Preference share capital

Reserves & surplus

2,783.66 1,725.01 1,442.91

1,325.60 1,570.00 1,327.39

4,266.92 3,439.69 2,921.93

3,379.25 3,350.20 2,994.68

Less : accumulated depreciation

1,899.66 1,807.91 1,726.07

1,479.59 1,542.29 1,268.61

4,021.52 1,808.52 1,857.14

Current assets, loans & advances

3,111.75 2,401.45 1,780.67

Less : current liabilities & provisions

4,466.78 2,602.35 2,019.23

Net current assets

Total net current assets

-599.02 -1,191.88 -1,355.03

4,266.92 3,439.69 2,921.93

Market value of quoted investments

Number of equity sharesoutstanding (Lacs)

1,484.81 1,083.15 1,256.57

Profit before tax

Net cash flow-operating activity

Net inc/dec in cash and equivalent

Cash and equivalent begin of year

Net cash used in investing activity

Cash and equivalent end of year

Adjusted EPS (Rs)

Adjusted cash EPS (Rs)

Reported EPS (Rs)

Reported cash EPS (Rs)

Per share ratios

Dividend per share

Operating profit per share (Rs)

Book value (excl rev res) per share (Rs)

Book value (incl rev res) per share (Rs.)

Net operating income per share (Rs)

Free reserves per share (Rs)

Operating margin (%)

Gross profit margin (%)

Net profit margin (%)

Adjusted cash margin (%)

Adjusted return on net worth (%)

Reported return on net worth (%)

Return on long term funds (%)

Long term debt / Equity

Owners fund as % of total source

Current ratio (inc. st loans)

Dividend payout ratio (net profit)

Dividend payout ratio (cash profit)

Earning retention ratio

Cash earnings retention ratio

Financial charges coverage ratio

Fin. charges cov.ratio (post tax)

Import comp. in raw mat. consumed

Long term assets / total Assets