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Non-current liabilities
Long term Borrowings 5,519.30 4,841.96 4,898.37
Deferred Tax Liability (Net) 1,034.15 117.96 0.00
Other long term liabilities 15.57 18.38 329.97
Long-term provisions 745.09 1,540.98 1,596.03
7,314.11 6,519.28 6,824.37
Current liabilities
Short-term borrowing 9,500.98 9276.49 7729.78
Trade payables 13285.64 16,179.95 14,986.81
Other current liabilities 4,368.42 4994.15 5,313.78
Short-term provisions 778.13 980.53 1081.69
Total Current Liabilities 27933.17 31431.12 29112.06
Total Equity And Liabilities 55,026.22 66,717.93 67,165.45
ASSETS
Non-current assets
Fixed assets
Tangible assets 23,935.36 21,959.05 24,289.52
Intangible assets 986.93 735.58 505.33
Capital Work in Progress 620.67 456.76 1,374.96
Intangible Assets under Development 69.43 29.36 0.36
Total Fixed Assets 25,612.39 23180.75 26170.17
Non-current investments 1,910.98 6,637.10 7,552.63
Deferred tax assets 0 213.66
Long-term loans and advances 1303.01 1884.5 2,024.74
Trade Receivable 0 0 0
Other non-current assets 169.19 146.85 408.95
Total Non current Asset 3,383.18 8,668.45 10,199.98
Current assets
Current Investment 0 73.17 0.00
Inventories 7,875.37 7,083.62 5,835.51
Trade receivables 12869.53 18,554.92 17421.31
Cash and bank balances 2,271.44 4,794.24 3,209.40
Short-term loans and advances 2918.71 4,100.47 4039.92
Other current assets 95.6 262.31 289.16
Total Current Asset 26030.65 34868.73 30795.3
Total Asset 55,026.22 66,717.93 67,165.45
0 0 0 0 0 0
0.00 0.00 - - - - -
7408.83 9,003.48 10,474.65 11,836.35 13,375.08 15,113.84 16,171.80
18,777.37 21032.59 24,677.06 27,885.07 31,510.13 35,606.45 38,098.90
1,443.05 2,074.35 2,308.91 3,331.40 4,972.50 6,905.05 5,613.68
3864.36 3821.07 5,260.65 5,944.54 6,717.33 7,590.58 8,121.92
644.63 461.23 475.14 536.91 606.71 685.58 733.57
32138.24 36392.72 43196.41 49534.27 57181.74 65901.50 68739.88
71,609.50 75,211.18 85,385.74 94,974.28 106,295.03 119,165.57 135,861.79
Expenses
Cost of material consumed 60,856.54 74,688.70
Purchase of stock in trade -
Increase in inventories of Finished Goods, WIP -963.87 874.49
Employee benefits expense 9,952.38 13,032.98
Other expenses 13,193.32 14,705.12
Finance costs 1,615.41 1,840.04
Depreciation & Amortization Expenses 3,363.25 3,847.90
Total expenses 88,017.03 108,989.23
Tax expense
Current tax 805.81 688
Less: Minimum Alternate Tax 0 0
Reversal of current tax of earlier years 0 -50.84
MAT credit written of
Deferred tax charge / (credit) 383 -636.83
Total tax expenses 1188.81 0.33
239,077.46
3,151.41
242,228.87
159,571.18
2,551.34
-400.83
28,215.93
30,481.70
1,927.04
8,912.54
231,258.91
10,969.96
387.05
11,357.01
2,430.58
-279.00
-
-
332.25
2,483.83
8,873.17
-
8,873.17
1,374.71
7,498.47
Year 1 Year 2 to 5
Assumptions: Assumptions:
Company Growth Rate 14% Company Growth Rate 14%
Kd (Cost of Debt) 12% Kd (Cost of Debt) 12%
Kp (Cost of Preference) 3% Kp (Cost of Preference) 0%
Ke (CAPM) 15.87% Ke (CAPM) 15.50%
Rf 7.77% Rf 7.77%
Beta 1.09 Beta 1.04
Rm 15.2% Rm 15.2%
TOTAL 13,193.32
2011
% of Rev Consumption of stores and spare parts 1.6481% 1.5727%
% of Rev Job work charges 1.5851% 2.6195%
% of Rev Power & Fuel 1.9968% 2.4775%
% of Rev Rent including Lease rentals 1.0037% 0.4991%
% of Rev Repairs and maintenance: Building 0.2161% 0.0823%
% of Rev Repairs and maintenance: Machinery 0.5835% 0.3382%
% of Rev Repairs and maintenance: Others 0.0884% 0.1908%
% of Rev Insurance 0.0965% 0.1591%
% of Rev Rates & Taxes 0.0497% 0.0199%
% of Rev Travelling & Conveyance 1.4564% 1.7947%
% of Rev Legal and professional 0.8504% 1.2531%
% of Rev Payment to auditors 0.0415% 0.0177%
% of Rev Fixed assets scrapped/ written of 0.0000% 0.0000%
% of Rev Provision for doubtful trade and other receivables, loans an 0.0527% 0.0000%
% of Rev Royalty expenses 0.0602% 0.0000%
% of Rev Freight and other distribution overheads 0.6301% 0.0000%
% of Rev Warranty Rejection 0.1362% 0.0000%
% of Rev Printing & Stationery 0.0925% 0.0000%
% of Rev Charity and donation 0.0543% 0.0000%
% of Rev Net loss on foreign currency transactions and translation 0.0054% 0.0000%
% of Rev Expenses relating to earlier years 0.0156% 0.0000%
% of Rev Miscellaneous Expenses 2.0864% 3.4366%
Revenue from operations 91,232.31
Employee benefits expense 9,952.38
Employee benefits expense/Revenue 0.118020056 0.1090883263
Inventories 7,875.37
% of revenue 0.067642532 0.0863221593
Capex
% of revenue 0.045839157
- - - -
Efficiency Ratios
Accounts Receivable Turnover 0.0000 0.0000 0.0000 0.0000 6.8846 6.7755 6.6582
Accounts Payable Turnover 0.0000 0.0000 0.0000 0.0000 5.3732 5.2515 5.1358
Inventory Turnover 0.0000 0.0000 0.0000 0.0000 10.8487 10.6125 10.4695
Liquidity Ratios
Current Ratio 0.9319 1.1094 1.0578 0.9994 1.1270 1.1502 1.1926
Quick Ratio 0.5455 0.7535 0.7186 0.6488 0.7298 0.7312 0.7645
Cash Ratio 0.0847 0.1632 0.1202 0.0649 0.0785 0.0741 0.0931
2018E 2019E 2020E
Profit for the year attributable to equity shareholders 3331.46 3275.61 3020.11 2701.36
Total Equity 19,778.94 28,767.53 31,229.02 33,371.86
ROE 0.1684347 0.1138648 0.0967084 0.0809472
Average Inventory
Inventory Turnover
Revenue
Revenue from operations
Other income
Total revenue
Expenses
Cost of sales and services
Subcontracting costs
Employee benefits expense
Other expenses
Finance costs
Depreciation and amortisation expense
Exceptional items
Tax expense
Current tax
Deferred tax
Other Expenses
Bidding Charges
Lease rental and equipment hire charges
Rates and Taxes
Insurance
Repairs & Maintenance (Others)
Advertisment & Sales promotion
Freight
Travelling & Conveyance
Communication costs
Printing and stationery
Logo Fees
Legal & Professional expense
Payment to auditors
Director Sitting Fee
Meetings and seminars
Security Expenses
Donation
Corporate Social Responsibilty expenditure
Loss on sale of fixed asset
Miscellaneous Expenses
Balance Sheet Items
Shareholder's funds
Long term Borrowings
Deferred Tax Liability (Net)
Other long term liabilities
Long-term provisions
Short-term borrowing
Trade payables
Other current liabilities
Short-term provisions
Fixed assets
Non-current investments
Deferred tax assets
Long-term loans and advances
Trade Receivable
Other non-current assets
Current Investment
Inventories
Trade receivables
Cash and bank balances
Short-term loans and advances
Other current assets
Revenue was regressed with IIP Index and CPI using Holt-Winters Seasonal Smoothing Test
% of revenue from operation
Same as in 2015
% of PBT
Same as in 2015
4 Amara Raja Batt878.65 -16.3 -1.82 222.17 12.53 4211.33 0.052755 7.20%
52 Auto Corp Goa 404.3 -1.2 -0.3 1.67 0.94 395.01 0.004228
54 Guj Auto Gears 199.9 -0.1 -0.05 1.62 5.67 30.5 0.053115
53 Lumax Auto Sys 38.55 -0.75 -1.91 1.64 3.3 68.5 0.023942
40 Munjal Auto Ind 73.4 -1.45 -1.94 3.13 1.17 888.25 0.003524
62 SAR Auto Prod 243 11.2 4.83 1.13 9.16 2.21 0.511312
45 Sona Koyo Stee 57.95 -0.55 -0.94 2.35 0.53 1078.64 0.002179
7 Steel Str Wheel 358.7 -11.3 -3.05 100.09 10.44 1152.82 0.086822
19 Subros 86.55 2.1 2.49 6.92 1.06 1197.15 0.00578
44 The Hi-Tech Gea 273.5 -2.7 -0.98 2.39 1.13 431.93 0.005533
PPAP Automotive
156.2 3.2 2.09 318.5
Sundaram-Clayto
1,849.00 9 0.49 1,346.11
ZF Steering Gea
1,617.00 -17.75 -1.09 330.45