Balance Sheet(2009-2001) of Maruti Suzuki (US Format)

*All numbers are in INR and in x10M

200903 (12200803 (12200703 (12200603 (12
Inventories 902.3 1038 701.4 881.2
Sundry Debtors 918.9 655.5 747.4 646.1
Cash and Bank 1939 330.5 1422.8 1401.6
Loans and Advances 1730.9 1073.9 1533.4 812
Total Current Assets 5491.1 3097.9 4405 3740.9
Gross Block 8720.6 7285.3 6146.8 4954.6
Less : Accumulated Depreciation 4649.8 3988.8 3487.1 3259.4
Less:Impairment of Assets 0 0 0 0
Net Block 4070.8 3296.5 2659.7 1695.2
Lease Adjustment 0 0 0 0
Capital Work in Progress 861.3 736.3 250.7 92
Investments 3173.3 5180.7 3409.2 2051.2
Deferred Tax Assets 78.9 99.6 110.1 121.1
Miscellaneous Expenses not written off 0 0 0 0
Total Asset 13675.4 12411 10834.7 7700.4
Current Liabilities 3016.9 2456.2 2011 1505.8
Provisions 380.7 369.5 1061.4 471.3
Total Current Liabilities 3397.6 2825.7 3072.4 1977.1
Deferred Tax Liability 234 269.7 277.6 199
Secured Loans 0.1 0.1 63.5 71.7
Unsecured Loans 698.8 900.1 567.3 0
Total Debt 698.9 900.2 630.8 71.7
Share Capital 144.5 144.5 144.5 144.5
Reserves Total 9200.4 8270.9 6709.4 5308.1
Equity Share Warrants 0 0 0 0
Equity Application Money 0 0 0 0
Total Shareholders Funds 9344.9 8415.4 6853.9 5452.6
Total Liablity 14374.3 13311.2 11465.5 7772.1
Check Integrity* -698.9 -900.2 -630.8 -71.7
*It checks asset and liability mismatch if any
200503 (12200403 (12200303 (12200203 (12200103 (12200003 (12)
666.6 439.8 487 681.1 865.5 990.2
599.5 689.4 671.1 839.3 675.5 466.3
1029.4 240.2 989.4 71.9 87.6 31.7
676.5 649.5 635.3 517.7 622.4 526.4
2972 2018.9 2782.8 2110 2251 2014.6
5053.1 4566.7 4513.8 4384.7 3866.7 3499.9
3179.4 2735.9 2258.1 1954.6 1619.6 1324.2
0 0 0 0 0 0
1873.7 1830.8 2255.7 2430.1 2247.1 2175.7
0 0 0 0 0 0
42.1 74.9 9.3 72.4 368.4 234.2
1516.6 1677.3 103.2 96.8 95.5 397.4
125.4 125.5 231.7 0 0 0
0 16.3 88.7 119.2 58.7 52.3
6529.8 5743.7 5471.4 4828.5 5020.7 4874.2
1218.8 1211.4 1135.9 1201.7 1026.7 1090.2
389.2 320.4 342.7 263.5 239.4 325.8
1608 1531.8 1478.6 1465.2 1266.1 1416
235.4 308.8 438.8 0 0 0
307.6 311.9 300 395.1 561.5 86.4
0 0 156 260.9 550.6 459.7
307.6 311.9 456 656 1112.1 546.1
144.5 144.5 144.5 132.3 132.3 132.3
4234.3 3446.7 2953.5 2575 2510.2 2779.8
0 0 0 0 0 0
0 0 0 0 0 0
4378.8 3591.2 3098 2707.3 2642.5 2912.1
6837.4 6055.6 5927.4 5484.5 6132.8 5420.3
-307.6 -311.9 -456 -656 -1112.1 -546.1
Income Statement (2009-2003) of Maruti Suzuki
*All numbers are in INR and in x10M
200903 (12) 200803 (12) 200703 (12200603 (12
INCOME :
Sales Turnover 23182.2 21025.2 17205.9 14753.1
Excise Duty 2652.1 3133.6 2509.6 2737.2
Net Sales 20530.1 17891.6 14696.3 12015.9
Other Income 998.5 837.1 598.4 429.2
Stock Adjustments -356.6 336.3 -243.1 236

Total Income 21172 19065 15051.6 12681.1

EXPENDITURE :
Raw Materials 15763.1 13791.5 10739 9335.6
Power & Fuel Cost 193.6 147.3 97.4 57.2
Employee Cost 463.5 346.8 266.29 211.45
Other Manufacturing Expenses 254.7 197.8 153.5 141.3
Selling and Administration Expenses 1486.96 1110.4 941.67 668.56
Miscellaneous Expenses 576.84 340.4 264.94 211.19
Less: Pre-operative Expenses Capitalised 0 0 0 0

Total Expenditure 18738.7 15934.2 12462.8 10625.3

Operating Profit 2433.3 3130.8 2588.8 2055.8

Interest 51 59.6 37.6 20.4
Gross Profit 2382.3 3071.2 2551.2 2035.4
Depreciation 706.5 568.2 271.4 285.4
Profit Before Tax 1675.8 2503 2279.8 1750
Tax 459.2 759.8 621.4 587.3
Fringe Benefit tax 9.7 9.8 6.7 5.7
Deferred Tax -11.8 2.6 89.7 -32.1
Reported Net Profit 1218.7 1730.8 1562 1189.1
Extraordinary Items 146.07 61.09 26.71 -7.97
Adjusted Net Profit 1072.63 1669.71 1535.29 1197.07

Adjst. below Net Profit 0 0 -8.8 0

P & L Balance brought forward 7025.7 5637.3 4393.9 3442.1
Statutory Appropriations 0 0 0 0
Appropriations 240.2 342.4 309.8 237.3
P & L Balance carried down 8004.2 7025.7 5637.3 4393.9

Dividend 101.1 144.5 130 101.1

Preference Dividend 0 0 0 0
Equity Dividend % 70 100 90 70
Earnings Per Share(Adj)-Unit Curr 41.57 59.03 53.29 40.65
Earnings Per Share-Unit Curr 41.57 59.03 53.29 40.65
Earnings Per Share(Adj)-Unit Curr 41.57 59.03 53.29 40.65
Book Value-Unit Curr 323.35 291.19 237.16 188.67
200503 (12200403 (12200303 (12200203 (12200103 (12200003 (12)

13335.7 11047.4 8981.5 9087.8 8928.7 9315.1

2411.9 1943 1801.4 2013.2 2211.8 2325.6
10923.8 9104.4 7180.1 7074.6 6716.9 6989.5
403.2 377.6 276.5 318 324.6 357.5
141.7 3.2 -94.9 141.9 -20.3 51.3

11468.7 9485.2 7361.7 7534.5 7021.2 7398.3

8563.2 6973.3 5563.4 5839.6 5889.8 5616.1

58.1 95.8 78.1 49.4 51.4 37.5
191.46 293.76 217.82 227.25 199.22 185.71
92.7 71.1 57.3 60.2 82.1 94.9
580.01 536.44 621.29 635.02 551.8 588.15
185.53 206.7 166.89 184.83 117.88 167.54
0 0 0 0 0 0

9671 8177.1 6704.8 6996.3 6892.2 6689.9

1797.7 1308.1 656.9 538.2 129 708.4

36 43.4 52.7 77 75.9 60.2
1761.7 1264.7 604.2 461.2 53.1 648.2
456.8 494.9 322.1 342.9 322.3 263.1
1304.9 769.8 282.1 118.3 -269.2 385.1
524.6 251.5 35.1 13.8 0.2 55
0 0 0 0 0 0
-73.3 -23.8 100.6 0 0 0
853.6 542.1 146.4 104.5 -269.4 330.1
-6.5 -79.72 16.68 -0.71 18.29 5.83
860.1 621.82 129.72 105.21 -287.69 324.27

0 0 0 0 0 0
2757.4 2335.9 2269.9 2233.2 2502.8 2245
0 0 0 0 0 0
168.9 120.6 80.4 67.8 0.2 72.3
3442.1 2757.4 2335.9 2269.9 2233.2 2502.8

57.8 43.3 42.7 39.7 0 33.1

0 0 0 0 0 0
40 30 30 30 0 25
29.25 18.56
 29.25 18.56 4.88 78.99 0 243.99
29.25 18.56
151.52 124.26 107.2 2046.33 1997.35 2201.13
Cash Flow Statement (2009-2001) - Maruti Suzuki
*All numbers are in INR and in x10M
200903 200803 200703
Cash Flow Summary
Cash and Cash Equivalents at Beginning of the year 330.5 1422.8 1401.6
Net Cash from Operating Activities 1193.3 1822.8 2028
Cash Flow From Operating Activities
Net Profit before Tax & Extraordinary Items 1675.8 2503 2279.8
Adjustment For
Depreciation 706.5 568.2 271.4
Interest (Net) -192.6 -81.2 -73.3
Dividend Received -144 -166.8 -152.8
P/L on Sales of Assets 12.5 2.4 0.4
P/L on Sales of Invest -213.7 -89.8 -38.9
Prov. & W/O (Net) -37.9 -85.5 -43.7
P/L in Forex -61 44.3 0
Fin. Lease & Rental Chrgs 0 0 0
Others 0 0 -8.9
Total Adjustments (PBT & Extraordinary Items) 69.8 191.6 -45.8
Op. Profit before Working Capital Changes 1745.6 2694.6 2234
Adjustment For
Trade & 0th receivables -265 92 -103.5
Inventories 135.7 -336.6 168
Trade Payables 645.5 356.6 517
Loans & Advances -616.1 -119.1 -152.3
Investments 0 0 0
Net Stock on Hire 0 0 0
Leased Assets Net of Sale 0 0 0
Trade Bill(s) Purchased 0 0 0
Change in Borrowing 0 0 0
Change in Deposits 0 0 0
Others 0 0 0
Total (OP before Working Capital Changes) -99.9 -7.1 429.2
Cash Generated from/(used in) Operations 1645.7 2687.5 2663.2
Interest Paid(Net) 0 0 0
Direct Taxes Paid -452.4 -864.7 -635.2
Advance Tax Paid 0 0 0
Others 0 0 0
Total-others -452.4 -864.7 -635.2
Cash Flow before Extraordinary Items 1193.3 1822.8 2028
Extraordinary Items
Excess Depreciation W/b 0 0 0
Premium on Lease of land 0 0 0
Payment Towards VRS 0 0 0
Prior Year 's Taxation 0 0 0
Gain on Forex Exch. Tran 0 0 0
Others 0 0 0
Net Cash Used in Investing Activities 951.4 -3047.4 -2436.8
Cash Flow from Investing Activities
Investment in Assets :
Purchased of Fixed Assets -1620.7 -1685.8 -1395.5
Sale of Fixed Assets 7.1 6.9 12.3
capital WIP 0 0 0
Capital Subsidy Recd 0 0 0
Financial/Capital Investment :
Purchase of Investments -17019.1 -18696.6 -12244.4
Sale of Investments 19237.2 17012.3 10925.3
Investment Income 0 0 0
Interest Received 202.9 149 112.7
Dividend Received 144 166.8 152.8
Invest.In Subsidiaires 0 0 0
Loans to Subsidiaires 0 0 0
Investment in Group Cos 0 0 0
Issue of Sh. on Acqu. of Cos 0 0 0
Canc. of Invest. in Cos Acq. 0 0 0
Acquisition of Companies 0 0 0
Inter Corporate Deposits 0 0 0
Others 0 0 0
Net Cash Used in Financing Activities -536.2 132.3 430
Cash Flow From Financing Activities
Proceeds:
Proceeds from Issue of shares (incl share premium) 0 0 0
Proceed from Issue of Debentures 0 0 0
Proceed from 0ther Long Term Borrowings 0 0 567.5
Proceed from Bank Borrowings 0 0 0
Proceed from Short Tem Borrowings 454.8 399.9 23.3
Proceed from Deposits 0 0 0
Share Application Money 0 0 0
Cash/Capital Investment Subsidy 0 0 0
Loans from a Corporate Body 0 0 0
Payments:
Share Application Money Refund 0 0 0
On Redemption of Debenture 0 0 0
Of the Long Tem Borrowings 0 0 0
Of the short term Borrowings -788.7 -63.4 -31.7
Of financial Liabilities 0 0 0
Dividend Paid -144.4 -129.9 -101.1
Shelter Assistance Reserve 0 0 0
Interest Paid -57.9 -74.3 -28
Others 0 0 0
Net Cash Used in Financing Activities -536.2 132.3 430
Net Inc/(Dec) in Cash and Cash Equivalent 1608.5 -1092.3 21.2
Cash and Cash Equivalents at End of the year 1939 330.5 1422.8
200603 200503 200403 200303 200203 200103

1029.4 240.2 989.4 71.9 87.6 31.7

1222.6 1074.7 1035.9 770.5 653.9 -244.8

1750 1304.9 769.8 282.1 118.3 -269.2

285.4 456.8 494.9 322.1 342.9 322.3

-86.5 -29.4 -30.4 -48.9 -18.6 4.6
-72 -79.2 -72.3 -3 -3.9 -3.7
22 11.9 2.2 5.4 0.8 0.7
-10 -1.1 -3.4 -35 0 -19
-4.4 -36.7 -8.1 43.6 -42.3 19.2
0 0 0 0 -0.2 0
0 0 0 0 0 0
0 0 0 0 0.3 -26.1
134.5 322.3 382.9 284.2 279 298
1884.5 1627.2 1152.7 566.3 397.3 28.8

-55.3 89.9 -20.4 167.3 -184.1 -333.8

-214.6 -226.7 47.3 194.1 175 124.7
318.5 105.2 113 -20.3 172.7 -74
-130.1 -21.5 -23.2 -124.6 105.6 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
-81.5 -53.1 116.7 216.5 269.2 -283.1
1803 1574.1 1269.4 782.8 666.5 -254.3
0 0 0 0 0 0
-580.4 -499.4 -233.5 -12.3 -12.3 9.5
0 0 0 0 0 0
0 0 0 0 -0.3 0
-580.4 -499.4 -233.5 -12.3 -12.6 9.5
1222.6 1074.7 1035.9 770.5 653.9 -244.8

0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
 0 0 0 0 0 0
0 0 0 0 0 0
-530.7 -193.7 -1551.1 37 -128.1 -193.5

-210.3 -482.5 -140.1 -101.7 -222.9 -603.6

31.5 3.7 2.3 8.6 9.4 16.8
0 0 0 0 0 0
0 0 0 0 0 0

-9346.9 -5224.3 -5416.3 -2290.5 -1.3 -11

8822.2 5375.7 3845.5 2319.1 0 331.9
0 0 0 0 0 0
100.8 54.5 85.2 98.5 82.8 68.7
72 79.2 72.3 3 3.9 3.7
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
-319.7 -91.8 -234 110 -541.5 494.2

0 0 0 399 0 0
0 0 0 0 0 0
0 0 0 0 0 435.6
0 0 0 0 0 0
1.7 7.6 11.9 13.3 41.5 126.1
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0

0 0 0 0 0 0
0 0 0 0 0 0
0 0 -142.7 0 0 0
-237.6 -11.9 -13.3 -209.6 -504.1 0
0 0 0 0 0 0
-57.8 -43.2 -42.7 -39.7 0 0
0 0 0 0 0 0
-26 -44.3 -47.2 -53 -78.9 -67.5
0 0 0 0 0 0
-319.7 -91.8 -234 110 -541.5 494.2
372.2 789.2 -749.2 917.5 -15.7 55.9
1401.6 1029.4 240.2 989.4 71.9 87.6
Key Ratios for Maruti Suzuki
200903 200803 200703 200603 200503
Key Ratios
Debt-Equity Ratio 9% 10% 6% 4% 8%
Long Term Debt-Equity Ratio 6% 7% 6% 4% 8%
Current Ratio 1.22 1.13 1.52 1.73 1.42
Turnover Ratios
Fixed Assets 2.9 3.13 3.1 2.95 2.77
Inventory 23.9 24.18 21.74 19.06 24.11
Debtors 29.45 29.97 24.69 23.69 20.69
Interest Cover Ratio 29.91 43 61.63 86.78 37.25
Profitability Ratio
PBIDTM (%) 9.63 14.89 15.05 13.93 13.48
PBITM (%) 6.58 12.19 13.47 12 10.05
PBDTM (%) 9.41 14.61 14.83 13.8 13.21
CPM (%) 7.67 10.93 10.66 9.99 9.83
APATM (%) 4.63 8.23 9.08 8.06 6.4
Return on Capital Ratio
ROCE (%) 15.76 30.51 35.63 34.68 31.28
RONW (%) 12.08 22.67 25.38 24.19 21.42
200403 200303 200203 200103 200003

11% 19% 33% 30% 12%

11% 18% 24% 15% 2%
1.37 1.47 1.35 1.22 1.25

2.43 2.02 2.2 2.42 3.18

23.84 15.38 11.75 9.62 11.88
16.24 11.89 12 15.64 25.08
21.47 5.79 2.54 -2.55 7.4

12.91 6.98 5.92 1.44 7.6

8.43 3.4 2.15 -2.16 4.78
12.52 6.4 5.07 0.59 6.96
10.11 5.03 4.92 0.59 6.37
5.63 1.44 1.15 -3.02 3.54

25.34 9.1 5.63 -5.44 14.6

18.59 4.47 3.91 -9.7 11.93
Balance Sheet(2009-2000) of Maruti Suzuki
*All numbers are in INR and in x10M
200903 200803 200703 200603
SOURCES OF FUNDS :
Share Capital 144.5 144.5 144.5 144.5
Reserves Total 9200.4 8270.9 6709.4 5308.1
Equity Share Warrants 0 0 0 0
Equity Application Money 0 0 0 0
Total Shareholders Funds 9344.9 8415.4 6853.9 5452.6
Secured Loans 0.1 0.1 63.5 71.7
Unsecured Loans 698.8 900.1 567.3 0
Total Debt 698.9 900.2 630.8 71.7

Total Liabilities 10043.8 9315.6 7484.7 5524.3

APPLICATION OF FUNDS :
Gross Block 8720.6 7285.3 6146.8 4954.6
Less : Accumulated Depreciation 4649.8 3988.8 3487.1 3259.4
Less:Impairment of Assets 0 0 0 0
Net Block 4070.8 3296.5 2659.7 1695.2
Lease Adjustment 0 0 0 0
Capital Work in Progress 861.3 736.3 250.7 92
Investments 3173.3 5180.7 3409.2 2051.2
Current Assets, Loans & Advances
Inventories 902.3 1038 701.4 881.2
Sundry Debtors 918.9 655.5 747.4 646.1
Cash and Bank 1939 330.5 1422.8 1401.6
Loans and Advances 1730.9 1073.9 1533.4 812
Total Current Assets 5491.1 3097.9 4405 3740.9
Less : Current Liabilities and Provisions
Current Liabilities 3016.9 2456.2 2011 1505.8
Provisions 380.7 369.5 1061.4 471.3
Total Current Liabilities 3397.6 2825.7 3072.4 1977.1
Net Current Assets 2093.5 272.2 1332.6 1763.8
Miscellaneous Expenses not written off 0 0 0 0
Deferred Tax Assets 78.9 99.6 110.1 121.1
Deferred Tax Liability 234 269.7 277.6 199
Net Deferred Tax -155.1 -170.1 -167.5 -77.9

Total Assets 10043.8 9315.6 7484.7 5524.3

Contingent Liabilities 1353 2186.1 1684.4 881.4

200503 200403 200303 200203 200103 200003

144.5 144.5 144.5 132.3 132.3 132.3

4234.3 3446.7 2953.5 2575 2510.2 2779.8
0 0 0 0 0 0
0 0 0 0 0 0
4378.8 3591.2 3098 2707.3 2642.5 2912.1
307.6 311.9 300 395.1 561.5 86.4
0 0 156 260.9 550.6 459.7
307.6 311.9 456 656 1112.1 546.1

4686.4 3903.1 3554 3363.3 3754.6 3458.2

5053.1 4566.7 4513.8 4384.7 3866.7 3499.9

3179.4 2735.9 2258.1 1954.6 1619.6 1324.2
0 0 0 0 0 0
1873.7 1830.8 2255.7 2430.1 2247.1 2175.7
0 0 0 0 0 0
42.1 74.9 9.3 72.4 368.4 234.2
1516.6 1677.3 103.2 96.8 95.5 397.4

666.6 439.8 487 681.1 865.5 990.2

599.5 689.4 671.1 839.3 675.5 466.3
1029.4 240.2 989.4 71.9 87.6 31.7
676.5 649.5 635.3 517.7 622.4 526.4
2972 2018.9 2782.8 2110 2251 2014.6

1218.8 1211.4 1135.9 1201.7 1026.7 1090.2

389.2 320.4 342.7 263.5 239.4 325.8
1608 1531.8 1478.6 1465.2 1266.1 1416
1364 487.1 1304.2 644.8 984.9 598.6
0 16.3 88.7 119.2 58.7 52.3
125.4 125.5 231.7 0 0 0
235.4 308.8 438.8 0 0 0
-110 -183.3 -207.1 0 0 0

4686.4 3903.1 3554 3363.3 3754.6 3458.2

1051.4 1297.3 1754.1 2018.2 1314.2 793.2