GMR (in Crore)

2017 2016 2015

Net Operating Revenue 10,234.07 13,357.66 11,087.68
Other Revenue 465.44 454.40 327.46
Total Revenue 10,699.51 13,812.06 11,415.14

Material Consumed 1461.35 2,564.52 2,137.87

Purchase 466.43 840.02 1,044.18
Stock Adjustment -6.86 -32.81 -20
Material Cost 1920.92 3,371.73 3,162.05
Employee Cost 544.28 664.8 619.65
Other Costs 1500.61 2,035.81 2,120.97
Financing Cost 2128.52 4,057.69 3,571.86
Depreciation 1059.61 2,266.16 1,812.53
operating and direct expense 3048.67 3,040.68 2,630.37
Capitalized Exp
10,202.61 15,436.87 13,917.43
Profit Before Exp Items 496.90 -1,624.81 -2,502.29
Exp items (profit) 454.1 149.79 304.12
Profit Before Tax 42.80 -1,774.60 -2,806.41
Tax 407.17 224.21 152.81
Net Profit -364.37 -1,998.81 -2,959.22

GMR Infra (in Crore)

2017 2016 2015
Share holders Fund 4,960.33 6,020.32 7,621.09
Share Capital 603.59 1,572.80 1,525.91
 Reserve and surplus 4,356.74 4,447.52 6,095.18
Minority Interest 2628.28 3639.41 3164.24
Long Term Liabilities 39,814.06 40,908.23 36,170.68
Long Term Borrowings 37,413.35 38,690.38 33,599.28
Other Long term Liabilities 2,186.57 2,064.07 2,398.71
Long Term Provisions 133.14 80.42 99.42
Deferred Tax 81 73.36 73.27
Short Term Liabilities 19,769.12 16,174.98 18,185.84
Short Term Borrowings 1,741.10 3,511.18 5,588.17
Trade Payables 1,946.83 2,035.08 1,759.31
Other Currrent Liabilities 15,785.80 10,357.52 10,547.84
Short Term Provisions 295.39 271.2 290.52
67,171.79 66,742.94 65,141.85

52,997.85
Tangible assets 37,685.64 23,760.52 24,338.61
Intangible assets 9,543.38 10,422.23 9,300.65
Capital work-in-progress 4,053.46 16,838.99 14,908.85
Intangible assets under development 526.69 408.45 824.99
Non-current investments 132.94 210.86 104.22
Long-term loans and advances 2,349.91 2,481.91 2,612.84
GoodWill
Deferred Tax Asset 70.93 19.04 44.57
Other non-current assets 3,347.99 3,900.83 3,802.93
Fixed Assets 57,710.94 58,042.83 55,937.66
Current investments 1,841.13 1,201.82 775.35
Inventories 469.3 304.85 358.92
Trade receivables 2,468.32 1,624.27 1,600.14
Cash and bank balances 3,121.32 3,904.04 3,321.19
Short-term loans and advances 787.83 587.19 493.15
Other current assets 772.95 1,077.94 2,655.44
Current Assets 9,460.85 8,700.11 9,204.19
67,171.79 66,742.94 65,141.85

Operating Assets 60,617.57 48,082.82 48,528.44

Asset turnover ratio 0.1688300933 0.2778052535 0.2284779812
Capital Intensity Ratio 0.271564182 0.5621787739 0.4555592945
Net Working Capital -10,308.27 -7,474.87 -8,981.65
Working Capital Turnover Ratio -0.992801896 -1.7870090048 -1.2344814149
Daily Cash Expenses 26.1648493151 36.6984109589 33.5827671233
Days Cash (days) 119.294399995 106.3817178453 98.8956624035
Inventory Turnover Ratio 21.8070956744 43.8171559784 30.8917864705
Inventory conversion period (days) 16.7376713272 8.3300705363 11.8154383965
Debtors Turnover Ratio 4.146168244 8.2237928423 6.9291936956
Debtors Collection Period (days) 88.0330894747 44.3834137117 52.6756814771
Creditors Turnover Ratio 5.2567866737 6.5637026554 6.3022889656
Creditors Payment Period (days) 69.4340521415 55.6088566411 57.9154656339
Cash Conversion Cycle 35.3367086604 -2.8953723931 6.5756542397
Invested Capital Turnover Ratio 0.2289839728 0.2850838936 0.2536152887
Equity Turnover Ratio 2.0631832963 2.2187624578 1.4548680044

ROE 0.0041865654 -0.3453653626 -0.3713051545

Interest Coverage 1.0147802229 0.4875877655 0.2077657019
Financial Leverage 12.2204712186 7.9867548569 6.3676508216
Debt/Equity 8.026494205 6.7950258458 4.7461294907
Dividend 0 0 38.92
EPS -2.68 -0.83 0.43
Dividend Payout Ratio 0 0 -0.0137538652
Interest burden 0.0145649497 -1.050912822 -3.8131139588
Tax burden 1.942041777
 GMR (in Crore) Larsen & Turbo (in crore)
2014 2013 2017 2016 2015 2014
10,653.22 9,974.86 109311.81 102631.69 92004.58 85128.4
315.87 277.19 1401.01 1183.03 1007.15 981.91
10,969.09 10,252.05 110,712.82 103,814.72 93,011.73 86,110.31

1,815.12 1,233.75 14320.98 13546.91 10305.52 9629.08

1,045.06 1,230.80 1610.57 1333.44 1424.04 2057.16
-14.42 20.7 84 862.98 -848.3 -527.32
2,845.76 2,485.25 16,015.55 15,743.33 10,881.26 11,158.92
574.22 611.93 13853.07 9204.84 7922.2 8027.64
2,015.09 1,767.88 7045.5 6146.68 5478.03 4689.44
2,971.88 2,099.00 1339.84 3041.22 2850.72 3141.44
1,454.99 1,039.78 2369.93 2755.99 2622.5 1445.82
2,652.74 2,632.63 61324.51 59202.95 56412.44 50535.84
-1.51 -8.84 -24.96 -37.78
12,514.68 10,636.47 101,946.89 96,086.17 86,142.19 78,961.32
-1,545.59 -384.42 8,765.93 7,728.55 6,869.54 7,148.99
-1,820.25 -777.27 -121.43 -358.1 -347.7 -340.24
274.66 392.85 8,887.36 8,086.65 7,217.24 7,489.23
166.25 218.33 2148.55 2548.66 2253.24 2628.39
108.41 174.52 6,738.81 5,537.99 4,964.00 4,860.84

rore) Larsen & Turbo (in crore)

2014 2013 2017 2016 2015 2014
7,278.18 7,537.78 50,216.52 43,991.73 40,909.07 37,711.61
389.24 389.24 186.59 186.3 185.91 185.38
 6,888.94 7,148.54 50029.93 43805.43 40723.16 37526.23
3691.1 3771.85 3563.6 6768.78 4998.62 3179.18
34,764.19 28,091.63 68,841.59 87,409.02 70,569.17 60,377.97
31,633.16 25,366.70 67340.58 73753.71 65277.98 55447.27
2,858.23 2,526.52 363.47 1615.98 4178.58 3946.73
217.41 160.75 526.59 788.32 573.05 366.12
55.39 37.66 610.95 11251.01 539.56 617.85
18,083.52 16,826.94 89,437.96 89,355.19 77,707.24 68,753.97
4,856.62 7,315.57 26635.69 17007.98 16989.24 24705.64
1,481.59 1,236.71 29774.25 29390.97 24858.99 20870.58
11,492.21 8,092.44 30369.68 39266.2 32333.9 20246.97
253.1 182.22 2658.34 3690.04 3525.11 2930.78

63,816.99 56,228.20 212,059.67 227,524.72 194,184.10 170,022.73

18,066.51 16,089.78 11242.66 17360.05 18796.57 20724.72

9,268.71 7,237.87 1831.25 23724.84 13701.48 9391.36
17,785.28 15,535.90 2118.19 6486.21 5420.42 4262.56
1,393.04 3,160.12 11353.23 11003.72 10103.29 10018.43
104.16 149.36 5953.64 1974.36 1646.8 1432.8
3,651.23 3,338.11 49382.8 57959.02 46092.76 35392.7

0 2171.67 2215 2136.17

58.11 135.89 1736.15 802.96 724.2 280.39
3,845.81 1,581.63 6833.5 561.94 468.72 223.62
54,172.85 47,228.66 90,451.42 122,044.77 99,169.24 83,862.75
178.63 572.24 13799.39 8105.67 7965.32 6676.17
270.43 259.45 4139.74 5361.95 6518.19 5527.46
1,695.63 1,703.70 27969.6 35989.94 30089.37 26384.55
5,134.84 4,256.14 5572.49 5901.59 5756.21 4096.57
879.79 987.68 25408.22 21751.6 20441.2 18162.76
1,484.82 1,220.33 44719.06 28344.17 24219.56 25269.73
9,644.14 8,999.54 121,608.50 105,454.92 94,989.85 86,117.24
63,816.99 56,228.20 212,059.92 227,499.69 194,159.09 169,979.99

44,355.88 36,810.58 178,835.47 199,929.73 169,023.26 147,590.03

 0.2401760488 0.2709780721 0.6112423335 0.5133388116 0.5443308809 0.5767896382
0.589666737 0.6199500553 9.7229490174 5.9119466822 4.8947536705 4.1075778105
-8,439.38 -7,827.40 32,170.54 16,099.73 17,282.61 17,363.27
-1.2623225877 -1.2743516366 3.3978854567 6.3747460361 5.3235350448 4.9027861687
30.756 26.8904657534 278.70416438 262.7059726 235.062712329 219.675808219
166.9540902588 158.2769163996 19.99428323 22.464620585 24.4879757532 18.648252774
39.3936323633 38.4461746001 26.405477156 19.140739843 14.1150503437 15.4009979267
9.265456829 9.4937923941 13.822889768 19.06927334 25.8589230014 23.6997629463
6.2827503642 5.8548218583 3.9082364424 2.8516771631 3.057710414 3.2264488119
58.0955757977 62.341777228 93.392507177 127.99485325 119.370362323 113.127472735
7.1903968034 8.0656419047 3.6713539384 3.4919463359 3.7010586512 4.0788708316
50.7621498477 45.2536827585 99.418363396 104.52623405 98.6204311785 89.4855500632
16.5988827791 26.5818868636 7.7970335502 42.537892536 46.6088541462 47.3416856184
0.2537267505 0.280257644 0.9228740478 0.8541981864 0.8293282379 0.8733650259
1.4637203257 1.3233153528 2.1768097431 2.3329769027 2.2490019939 2.2573525766

-0.2557589947 -0.0877725272 0.0968124373 0.0982161364 0.0945942706 0.1079479107

0.3736422736 0.6847975226 6.4968652973 3.1522678399 3.0564594208 2.963137924
6.0943642504 4.8834776287 3.5612876002 4.5447116992 4.1316818006 3.9136496692
4.7764949479 3.7267776454 1.3708952751 1.9869420912 1.7250250372 1.601044612
38.92 0 0 1699.95 1510.54 1320.85
0.14 0.31 64.8 54.69 51.33 52.97
-0.0209083193 0 0 0.3934433968 0.3903442538 0.3244622575
-1.6763566939 -0.4602856566
in crore) 0.0020291776 GMR INFRA (in Crore)
2013 2017 2016 2015 2014
74498 Net Sales 10234.07 13357.66 11087.68 10653.22
1095.93 Less: Material Cost 1920.92 3371.73 3162.05 2845.76
75,593.93 Less: Employees Cost 544.28 664.8 619.65 574.22
Less: Other Cost 1500.61 2035.81 2120.97 2015.09
Less: Product Development Cost 3048.67 3040.68 2630.37 2652.74
10790.24 Add: Capitalised Exp. 0 0 0 0
2179.87 EBITDA 3219.59 4244.64 2554.64 2565.41
-1514.33 Less: Depreciation 1059.61 2266.16 1812.53 1454.99
11,455.78 EBIT 2159.98 1978.48 742.11 1110.42
6224.17 Less: Interest (Financing Cost) 2128.52 4057.69 3571.86 2971.88
3772.23 EBT 31.46 -2079.21 -2829.75 -1861.46
2095.02 Less: Tax 10.69325 0 0 0
1637.07 NI 20.76675 -2079.21 -2829.75 -1861.46
43237.17
-50.56 EBITDA Margin 31.46% 31.78% 23.04% 24.08%
68,370.88 EBIT Margin (OPM) 21.11% 14.81% 6.69% 10.42%
7,223.05 NI Margin (NPM) 0.20% -15.57% -25.52% -17.47%
-336.76
7,559.81 VERTICAL INCOME STAT
2398.5 Net Sales 100.00% 100.00% 100.00% 100.00%
5,161.31 Less: Material Cost 18.77% 25.24% 28.52% 26.71%
Less: Employees Cost 5.32% 4.98% 5.59% 5.39%
Less: Other Cost 14.66% 15.24% 19.13% 18.92%
Less: Product Development Cost 29.79% 22.76% 23.72% 24.90%
Add: Capitalised Exp. 0.00% 0.00% 0.00% 0.00%
EBITDA 31.46% 31.78% 23.04% 24.08%
Less: Depreciation 10.35% 16.97% 16.35% 13.66%
EBIT 21.11% 14.81% 6.69% 10.42%
Less: Interest (Financing Cost) 20.80% 30.38% 32.21% 27.90%
EBT 0.31% -15.57% -25.52% -17.47%
Less: Tax 0.10% 0.00% 0.00% 0.00%
NI 0.20% -15.57% -25.52% -17.47%

CAGR (sales) 0.64%

ROTA (return on total Assets) 3.56% 4.11% 1.53% 2.50%

ROTA (after tax) 2.76% 3.43% 1.22% 2.01%

2013 2017 2016 2015 2014

33,859.69 Share holders Fund 7.38% 9.02% 11.70% 11.40%
123.08 Share Capital 0.90% 2.36% 2.34% 0.61%
 33736.61 Reserve and surplus 6.49% 6.66% 9.36% 10.79%
2652.87
52,717.18 Long Term Liabilities 59.27% 61.29% 55.53% 54.47%
47400.16 Long Term Borrowings 55.70% 57.97% 51.58% 49.57%
4595.57 Other Long term Liabilities 3.26% 3.09% 3.68% 4.48%
343.58 Long Term Provisions 0.20% 0.12% 0.15% 0.34%
377.87 0.12% 0.11% 0.11% 0.09%
53,875.31 Short Term Liabilities 29.43% 24.23% 27.92% 28.34%
7287.86 Short Term Borrowings 2.59% 5.26% 8.58% 7.61%
18812.03 Trade Payables 2.90% 3.05% 2.70% 2.32%
25236.04 Other Currrent Liabilities 23.50% 15.52% 16.19% 18.01%
2539.38 Short Term Provisions 0.44% 0.41% 0.45% 0.40%

143,105.05

20860.52 Tangible assets 56.10% 35.60% 37.36% 28.31%

7452.92 Intangible assets 14.21% 15.62% 14.28% 14.52%
4017.49 Capital work-in-progress 6.03% 25.23% 22.89% 27.87%
7289.32 Intangible assets under development 0.78% 0.61% 1.27% 2.18%
1262.95 Non-current investments 0.20% 0.32% 0.16% 0.16%
24040.37 Long-term loans and advances 3.50% 3.72% 4.01% 5.72%
2119.75

194.2 deferred tax 0.11% 0.03% 0.07% 0.09%

174.27 Other non-current assets 4.98% 5.84% 5.84% 6.03%
67,411.79 Fixed Assets 85.92% 86.96% 85.87% 84.89%
7504.55 Current investments 2.74% 1.80% 1.19% 0.28%
5169.47 Inventories 0.70% 0.46% 0.55% 0.42%
23014.91 Trade receivables 3.67% 2.43% 2.46% 2.66%
3571.54 Cash and bank balances 4.65% 5.85% 5.10% 8.05%
16414.05 Short-term loans and advances 1.17% 0.88% 0.76% 1.38%
20018.74 Other current assets 1.15% 1.62% 4.08% 2.33%
75,693.26 Current Assets 14.08% 13.04% 14.13% 15.11%
143,105.05 100.00% 100.00% 100.00% 100.00%

123,030.74 GMR INFRA (in Crore)

 0.6055234651 Tax burdenInterest b Operating eAsset turn
3.5712436699 2017 0.6601 0.014565 0.211058 0.205831
21,817.95 2018
3.414527946
189.542109589
18.8429896013
14.4111485317
25.327613493
3.2369450934
112.760639883
3.9601255154
92.1687958066
45.9194575693
0.8642559658
2.2001973438

0.1194491713
3.9246116982
3.6335459657
1.5569303795
1138.47
84.79
0.2814851396
 Larsen & Turbo (in crore)
2013 2017 2016 2015 2014 2013
9974.86 109311.8 102631.7 92004.58 85128.4 74498
2485.25 16015.55 15743.33 10881.26 11158.92 11455.78
611.93 13853.07 9204.84 7922.2 8027.64 6224.17
1767.88 7045.5 6146.68 5478.03 4689.44 3772.23
2632.63 61324.51 59202.95 56412.44 50535.84 43237.17
0 -1.51 -8.84 -24.96 -37.78 -50.56
2477.17 11074.69 12342.73 11335.61 10754.34 9859.21
1039.78 2369.93 2755.99 2622.5 1445.82 1637.07
1437.39 8704.76 9586.74 8713.11 9308.52 8222.14
2099 1339.84 3041.22 2850.72 3141.44 2095.02
-661.61 7364.92 6545.52 5862.39 6167.08 6127.12
0 2503.336 2224.822 1992.626 2096.19 2082.608
-661.61 4861.584 4320.698 3869.764 4070.89 4044.512

24.83% 10.13% 12.03% 12.32% 12.63% 13.23%

14.41% 7.96% 9.34% 9.47% 10.93% 11.04%
-6.63% 4.45% 4.21% 4.21% 4.78% 5.43%

VERTICAL INCOME STATEMENT

100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
24.92% 14.65% 15.34% 11.83% 13.11% 15.38%
6.13% 12.67% 8.97% 8.61% 9.43% 8.35%
17.72% 6.45% 5.99% 5.95% 5.51% 5.06%
26.39% 56.10% 57.68% 61.31% 59.36% 58.04%
0.00% 0.00% -0.01% -0.03% -0.04% -0.07%
24.83% 10.13% 12.03% 12.32% 12.63% 13.23%
10.42% 2.17% 2.69% 2.85% 1.70% 2.20%
14.41% 7.96% 9.34% 9.47% 10.93% 11.04%
21.04% 1.23% 2.96% 3.10% 3.69% 2.81%
-6.63% 6.74% 6.38% 6.37% 7.24% 8.22%
0.00% 2.29% 2.17% 2.17% 2.46% 2.80%
-6.63% 4.45% 4.21% 4.21% 4.78% 5.43%

10.06%

3.90% 4.87% 4.80% 5.15% 6.31% 6.68%

2.90% 3.05% 3.38% 3.48% 4.15% 4.42%

2013 2017 2016 2015 2014 2013

13.41% 23.68% 19.34% 21.07% 22.19% 23.66%
0.69% 0.09% 0.08% 0.10% 0.11% 0.09%
 12.71% 23.59% 19.26% 20.97% 22.08% 23.57%

49.96% 32.46% 38.42% 36.35% 35.52% 36.84%

45.11% 31.76% 32.42% 33.62% 32.62% 33.12%
4.49% 0.17% 0.71% 2.15% 2.32% 3.21%
0.29% 0.25% 0.35% 0.30% 0.22% 0.24%
0.07% 0.29% 4.95% 0.28% 0.36% 0.26%
29.93% 42.18% 39.28% 40.02% 40.45% 37.65%
13.01% 12.56% 7.48% 8.75% 14.53% 5.09%
2.20% 14.04% 12.92% 12.80% 12.28% 13.15%
14.39% 14.32% 17.26% 16.65% 11.91% 17.63%
0.32% 1.25% 1.62% 1.82% 1.72% 1.77%

28.62% 5.30% 7.63% 9.68% 12.19% 14.58%

12.87% 0.86% 10.43% 7.06% 5.52% 5.21%
27.63% 1.00% 2.85% 2.79% 2.51% 2.81%
5.62% 5.35% 4.84% 5.20% 5.89% 5.09%
0.27% 2.81% 0.87% 0.85% 0.84% 0.88%
5.94% 23.29% 25.48% 23.74% 20.82% 16.80%

0.24% 0.82% 0.35% 0.37% 0.16% 0.14%

2.81% 3.22% 0.25% 0.24% 0.13% 0.12%
83.99% 42.65% 53.65% 51.08% 49.34% 47.11%
1.02% 6.51% 3.56% 4.10% 3.93% 5.24%
0.46% 1.95% 2.36% 3.36% 3.25% 3.61%
3.03% 13.19% 15.82% 15.50% 15.52% 16.08%
7.57% 2.63% 2.59% 2.96% 2.41% 2.50%
1.76% 11.98% 9.56% 10.53% 10.69% 11.47%
2.17% 21.09% 12.46% 12.47% 14.87% 13.99%
16.01% 57.35% 46.35% 48.92% 50.66% 52.89%
100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Leverage
10.68 0.004462
 Asset Turnover Capita Intensity
2017 2016 2015 2014 2013 2017 2016
L&T 0.61 0.51 0.54 0.58 0.61 L&T 9.7 5.9
GMR 0.17 0.28 0.23 0.24 0.27 GMR 0.3 0.6
DLF 0.162054 0.1620542915 0.166177 0.162525 0.152853 4.659135 5.2809375802

Asset Turnover
2013 2014 2015 2016 2017
L&T 0.61 0.58 0.54 0.51 0.61
GMR 0.27 0.24 0.23 0.28 0.17
DLF 0.15 0.16 0.16 0.162054 0.162054

2013.00 2014.00 2015.00 2016 2017

L&T 3.6 4.1 4.9 5.9 9.7 Chart Title
GMR 0.6 0.6 0.5 0.6 0.3 16.0
DLF 0.43013 0.4301299713 0.931395 5.280938 4.659135 14.0
12.0
10.0
8.0
6.0
4.0
2.0
0.0
2013.00 2014.00 2015.00
L&T GMR
 Cash Day Cycle
2015 2014 2013 2017 2016 2015 2014 2013
4.9 4.1 3.6 L&T 7.8 42.5 46.6 47.3 45.9
0.5 0.6 0.6 GMR 35.3 -2.9 6.6 16.6 26.6
0.931395 0.43013 0.43013 DLF 293.17 380.27 231.82 179.16 133.92

466.43

Asset Turnover Ratio

1.20

1.00

Chart Title
0.80

0.60

0.40

0.20
14.00 2015.00 2016.00 2017.00
L&T GMR DLF

0.00
2013 2014 2015

L&T GMR DLF

Asset Turnover Ratio

2015 2016 2017

T GMR DLF Row 15

 EBITDA Margin
2017 2016 2015 2014 2013
L&T 0.10 0.12 0.12 0.13 0.13 L&T
GMR 0.31 0.32 0.23 0.24 0.25 GMR
GVK
DLF 0.002523 0.006606 0.002960 -0.001400 0.002187 DLF

2013.00 2014.00 2015.00 2016.00 2017.00

L&T 0.10 0.12 0.12 0.13 0.13 L&T
GMR 0.31 0.32 0.23 0.24 0.25 GMR

DLF 0.0025 0.0066 0.0030 -0.0014 0.0022 DLF

EBITDA MARGIN NET M

0.10
0.50
0.45 0.05
0.40
0.00
0.35 2013.00 2014.00 201
0.30 -0.05
0.25
0.20 -0.10
0.15 -0.15
0.10
0.05 -0.20
0.00 -0.25
2013.00 2014.00 2015.00 2016.00 2017.00
L&T GMR Row 11 DLF L&T GMR
 Net Margin ROE
2017 2016 2015 2014 2013 2017 2016 2015 2014
0.04 0.04 0.04 0.05 0.05 L&T 0.10 0.10 0.09 0.11
0.00 -0.10 -0.17 -0.12 -0.04 GMR 0.00 -0.23 -0.25 -0.17

-0.01032 -0.00354 -0.00042 0.00072 0.00045 DLF 0.05000 -0.00120 -0.00012 0.00024

2013.00 2014.00 2015.00 2016.00 2017.00 2013.00 2014.00 2015.00 2016.00

0.05 0.05 0.04 0.04 0.04 L&T 0.12 0.11 0.09 0.10
-0.0600 -0.17 -0.25 -0.16 0.00 GMR -0.06 -0.17 -0.25 -0.23

0.00045 0.00072 -0.00042 -0.00354 -0.01032 DLF 0.00015 0.00024 -0.00012 -0.00120

ROE
NET MARGIN 0.20

0.10 0.15
0.10
0.05
0.05
0.00
2013.00 2014.00 2015.00 2016.00 2017.00
0.00
-0.05 2013.00 2014.00 2015.00 2016.00 2017.00
-0.05
-0.10 -0.10
-0.15 -0.15

-0.20 -0.20
L&T GMR Row 11 DLF
-0.25
L&T GMR Row 11 DLF
 2013
0.12
-0.06

0.00015

2017.00
0.10
0.00

0.05000

2016.00 2017.00

1 DLF
 Interest Coverage Financial Leverage
2017 2016 2015 2014 2013 2017 2016 2015
L&T 6.496865 3.152268 3.056459 2.963138 3.924612 L&T 3.561288 4.544712 4.131682
GMR 1.01478 0.487588 0.207766 0.373642 0.684798 GMR 12.22047 7.986755 6.367651
GVK GVK
DLF DLF

Interest Coverage Financial Leverage

7 14
6 12
5
10
4
8
3
2 6
1 4
0 2
2017 2016 2015 2014 2013
L&T GMR GVK DLF 0
2017 2016 2015 2014 2013
L&T GMR GVK DLF
 Debt Equity
2014 2013 2017 2016 2015 2014 2013
3.91365 3.633546 L&T 1.370895 1.986942 1.725025 1.601045 1.55693
6.094364 4.883478 GMR 8.026494 6.795026 4.746129 4.776495 3.726778
GVK
DLF

erage
Debt Equity
9
8
7
6
5
4
3
2
1
0
2017 2016 2015 2014 2013
2014 2013
L&T GMR GVK DLF
K DLF