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1 ANANDNAGAR ELECTRICITY COMPANY

1.1 Anandnagar Electricity Company

Public Private Private Private

2006 2007 2008 2009
Revenues 13,500 14,250 17,500 19,500
Operating profit 810 1,100 1,790 2,730
Taxes 160 200 300 400
Profit before depreciation & tax 900 960 1,030 1,190
Profit after tax 650 900 1,490 2,330
Dividends 200 320 600 900
Wages and salaries 3,000 3,000 2,700 2,600
Total assets 3,000 3,600 4,500 5,750
Capital expenditure 500 900 1,750 2,250
Debtors 6,000 3,200 3,000 3,600
Creditors 4,500 2,400 2,300 2,400
Directors emoluments 30 70 80 100
Employees (number) 32,000 31,400 30,500 30,100
P/E ratio 10.5 12 11.5
Consumer price index 100 102.7 105.8 107.4

Performance:

OP/Rev 6.0% 7.7% 10.2% 14.0%

PAT/Rev 4.8% 6.3% 8.5% 11.9%
PBDIT/Assets 30.0% 26.7% 22.9% 20.7%
Payout 30.8% 35.6% 40.3% 38.6%

Since the company has become a private company, it will have to maximize the shareholders' value by focusing on profitability. Like any other
private sector company, it has several stakeholdersemployees, customers, shareholders, society, etc. After becoming a private sector company, the
performance of the company has improved quite significantly. It has become more profit-oriented.