Balance Sheet of

Tata
Communications

in Rs. Cr.
Mar '12

Sources Of Funds
Total Share Capital

285

Equity Share Capital

Share Application
Money
Preference Share
Capital
Reserves

285

Revaluation Reserves
Networth

0
0
6,851.97
0
7,136.97

Secured Loans

443.54

Unsecured Loans

507.29

Total Debt

950.83

Total Liabilities

8,087.80
Mar '12

Application Of Funds
Gross Block
Less: Accum.
Depreciation
Net Block
Capital Work in
Progress
Investments
Inventories

8,569.14
3,817.14
4,752.00
305.99
1,788.27
0.45

Sundry Debtors
Cash and Bank
Balance
Total Current Assets

709.94

Loans and Advances

3,625.00

53.32
763.71

Fixed Deposits
Total CA, Loans &
Advances
Deffered Credit

4,388.71

Current Liabilities

2,920.24

Provisions
Total CL & Provisions

0
226.93
3,147.17

Net Current Assets

Miscellaneous
Expenses
Total Assets

1,241.54

Contingent Liabilities

16,574.14

Book Value (Rs)

0
8,087.80

250.42

Source : Dion Global Solutions Limited

Mar '11

Mar '10

Mar '09

Mar '08

285

285

285

285

285

285

285

285

6,722.48

6,995.78

6,513.05

6,262.34

7,007.48

7,280.78

6,798.05

6,547.34

1,250.00

1,281.76

1,288.82

964.98

1,357.15

1,039.05

777.8

2,214.98

2,638.91

2,327.87

777.8

9,222.46

9,919.69

9,125.92

7,325.14

Mar '11

Mar '10

Mar '09

Mar '08

8,190.01

6,820.94

5,890.00

4,352.65

3,384.82

2,316.14

1,792.06

1,363.75

4,805.19

4,504.80

4,097.94

2,988.90

220.78

386.15

536.38

543.77

1,832.82

2,501.30

2,723.67

2,103.77

5.34

1.25

1.56

5.45

768.31

632.29

1,342.22

1,063.13

338.15

102.9

109.21

79.63

1,111.80

736.44

1,452.99

1,148.21

3,369.72

4,042.38

3,209.51

2,991.94

92.63

7.96

263.16

4,574.15

4,786.78

4,925.66

4,140.15

1,961.93

2,084.67

2,869.12

2,200.17

248.55

174.67

288.61

251.28

2,210.48

2,259.34

3,157.73

2,451.45

2012

shareholder's fund + long term debt = Cap. E

Cap. Employed

imited

2,363.67

2,527.44

1,767.93

1,688.70

9,222.46

9,919.69

9,125.92

7,325.14

12,566.95

10,409.16

8,449.09

5,140.02

245.88

255.47

238.53

229.73

2011

2010

2009

r's fund + long term debt = Cap. Employed

ta-cl

2008

Income
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Selling and Admin Expenses
Miscellaneous Expenses
Preoperative Exp Capitalised
Total Expenses

Operating Profit
PBDIT
Interest
PBDT
Depreciation
Other Written Off
Profit Before Tax
Extra-ordinary items
PBT (Post Extra-ord Items)
Tax
Reported Net Profit
Total Value Addition
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data (annualised)

Shares in issue (lakhs)

Earning Per Share (Rs)
Equity Dividend (%)
Book Value (Rs)

Profit & Loss account of Tata Communications in Rs. Cr.

Mar '12
12 mths
Income
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Selling and Admin Expenses
Miscellaneous Expenses
Preoperative Exp Capitalised
Total Expenses

Operating Profit
PBDIT
Interest
PBDT
Depreciation
Other Written Off
Profit Before Tax
Extra-ordinary items
PBT (Post Extra-ord Items)
Tax
Reported Net Profit
Total Value Addition
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data (annualised)

Mar '11
12 mths

Mar '10
12 mths

Mar '09
12 mths

4,091.77 3,611.77 3,218.04 3,749.43

0
0
0
0
4,091.77 3,611.77 3,218.04 3,749.43
176.62
101.81
359.95
473.58
0
0
0
0
4,268.39 3,713.58 3,577.99 4,223.01
22.4
7.94
11.56
11.2
0
0
0
0
622.24
520.46
418.44
340.07
1,875.62 1,793.65 1,592.11 1,943.03
209.74
244.68
265.01
423.1
373.8
187.76
180.31
180.75
0
0
0
0
3,103.80 2,754.49 2,467.43 2,898.15
Mar '12 Mar '11 Mar '10 Mar '09
12 mths 12 mths 12 mths 12 mths
987.97
857.28
750.61
851.28
1,164.59
959.09 1,110.56 1,324.86
194.87
213.18
251.02
196.7
969.72
745.91
859.54 1,128.16
707.08
659.65
574.73
425.27
0
0
0
0
262.64
86.26
284.81
702.89
-0.64
67.78
304.53
5.88
262
154.04
589.34
708.77
90.66
-8.52
106.16
197.54
171.34
162.56
483.18
515.95
3,081.40 2,746.55 2,455.87 2,886.95
0
0
0
0
57
57
0
128.25
6.98
9.25
0
21.8

Shares in issue (lakhs)

Earning Per Share (Rs)
Equity Dividend (%)
Book Value (Rs)

Source : Dion Global Solutions Limited

2,850.00 2,850.00 2,850.00 2,850.00

6.01
5.7
16.95
18.1
20
20
0
45
250.42
245.88
255.47
238.53

Mar '08
12 mths
3,283.30
0
3,283.30
173.25
0
3,456.55
10.63
0
242.43
1,936.25
323.08
125.36
0
2,637.75
Mar '08
12 mths
645.55
818.8
44.82
773.98
301.31
0
472.67
16.76
489.43
145.52
304.46 PAT
2,627.12
0
128.25
21.8

2012
171.34

2011
162.56

2010
483.18

2009
515.95

2008
304.46

2,850.00
10.68
45
229.73

Key Financial Ratios of Tata

Communications

Mar '12

Mar '11

Mar '10

10

10

10

Investment Valuation Ratios

Face Value
Dividend Per Share

--

34.67

30.08

26.34

Net Operating Profit Per Share (Rs)

143.57

126.73

112.91

Free Reserves Per Share (Rs)

206.73

192.88

222.15

73.68

73.68

73.68

24.14

23.73

23.32

6.68

5.32

5.26

Operating Profit Per Share (Rs)

Bonus in Equity Capital

Profitability Ratios
Operating Profit Margin(%)
Profit Before Interest And Tax Margin(%)
Gross Profit Margin(%)

6.86

5.47

5.46

Cash Profit Margin(%)

19.28

20.25

15.38

Adjusted Cash Margin(%)

19.28

20.25

15.38

Net Profit Margin(%)

4.08

4.38

14.47

Adjusted Net Profit Margin(%)

4.08

4.38

14.47

Return On Capital Employed(%)

4.79

3.21

2.98

Return On Net Worth(%)

2.4

2.31

6.63

1.43

1.31

-0.84

250.42

245.88

255.47

250.42

245.88

255.47

4.87

3.28

3.02

Current Ratio

1.34

1.92

2.01

Quick Ratio

1.32

2.01

2.08

Debt Equity Ratio

0.13

0.32

0.36

Long Term Debt Equity Ratio

0.12

0.29

0.35

Interest Cover

1.99

1.4

1.2

Total Debt to Owners Fund

0.13

0.32

0.36

Financial Charges Coverage Ratio

Financial Charges Coverage Ratio Post
Tax

5.62

4.49

3.47

5.51

4.86

5.21

9,092.82

--

--

Adjusted Return on Net Worth(%)

Return on Assets Excluding
Revaluations
Return on Assets Including Revaluations
Return on Long Term Funds(%)
Liquidity And Solvency Ratios

Debt Coverage Ratios

Management Efficiency Ratios

Inventory Turnover Ratio

Debtors Turnover Ratio

5.54

5.16

3.26

9,092.82

676.36

2,574.43

Fixed Assets Turnover Ratio

0.48

--

--

Total Assets Turnover Ratio

0.51

0.39

0.32

Asset Turnover Ratio

0.47

0.38

0.34

Average Raw Material Holding

--

--

--

Average Finished Goods Held

--

--

--

109.23

235.6

282.74

Material Cost Composition

Imported Composition of Raw Materials
Consumed

0.54

0.21

0.35

--

--

--

Selling Distribution Cost Composition

0.95

1.12

1.24

25.33

24.51

25.83

37.34

40.75

--

Investments Turnover Ratio

Number of Days In Working Capital

Profit & Loss Account Ratios

Expenses as Composition of Total Sales

Cash Flow Indicator Ratios
Dividend Payout Ratio Net Profit
Dividend Payout Ratio Cash Profit

7.28

8.05

--

37.59

28.08

100

Cash Earning Retention Ratio

92.1

91.19

100

AdjustedCash Flow Times

1.17

2.95

5.14

Mar '12

Mar '11

Mar '10

6.01

5.7

16.95

250.42

245.88

255.47

Earning Retention Ratio

Earnings Per Share

Book Value

Source : Dion Global Solutions Limited

Mar '09

Mar '08

10

10

4.5

4.5

29.87

22.26

131.56

115.2

217.64

212.42

73.68

73.68

22.7

19.32

10.94

9.71

11.36

10.14

15.42

17.19

15.42

17.19

13.25

8.87

13.25

8.87

6.23

6.53

7.58

4.65

2.57

4.4

238.53

229.73

238.53

229.73

6.67

6.94

1.31

1.44

1.52

1.64

0.34

0.12

0.26

0.05

2.99

12.09

0.34

0.12

5.06

17.41

5.79

14.52

--

46,904.29

1.394494 2.069302 2.118663 1.559874 1.688858

3.12

3.25

--

46,904.29

--

0.75

--

0.45

0.46

0.47

--

--

--

--

169.75

185.16

0.29

0.32

--

--

0.81

0.42

24.88

31.53

29.08

49.28

15.94

24.77

14.36

47.99

75.02

74.56

3.88

1.32

Mar '09

Mar '08

18.1

10.68

238.53

229.73

Liquidity Ratios
Year
Current Ratio
Quick Ratio

2012
1.394494101
1.394351115

Turnover Ratios
Inventory Turnover Ratio
Debtors Turnover Ratio

9092.822222
5.763543398

Creditors Turnover Ratio

Fixed Assets Turnover Ratio
Total Assets Turnover Ratio

0.477500659
0.505918791

Solvency Ratios
Debt-Equity Ratio
Liabilities Equity Ratio
Interest Coverage Ratio
Proprietory Ratio

0.133226005
1.133226005
5.976240571
0.882436509

Profitability Ratios
Return on Equity Shareholders fund
Return on Shareholders fund
Return on Total Assets
Capital Employed
Return on capital employed
Dividend Per Share
Earnings Per Share

Payout ratio=DPS/EPS

2.400738689
same as above
2.118499468
4,940.63
3.46797878
2
6.011929825

Gross Profit
GP Margin Ratio
Net Profit Margin Ratio

gross profit=operating profit

24.14529653
4.18742989

Market Related Ratios

Price earnings ratio

27.37

DPS= proposed divi/no. of equity sahres

Payout ratio

2
0.33267188

Dividend Yield Ratio

0.01215436

2011
2.06930169
2.066885925

2010
2.118662972
2.118109713

2009
1.559873707
1.559379681

2008
1.688857615
1.686634441

676.3614232
4.700928011

2574.432
5.089500071

2403.480769
2.793454128

602.440367
3.088333506

0.44099702
0.391627613

0.471788346
0.324409331

0.636575552
0.410855015

0.75432208
0.448223515
Total Assets

0.316087952
1.316087952
4.498968008
0.759827638

0.362448804
1.362448804
4.424189308
0.733972533

0.342432021
1.342432021
6.735434672
0.744916677

0.118796336
1.118796336
18.26863008
0.893817729

2.319806835
6.636376872 7.589676451 4.650132726
same as above
same as above
same as above same as above
1.762653348
4.870918345 5.653676561 4.156371073

35.00
30.00
25.00

(Capital Employed = Total Assets - Current

7,011.98
2.318318078
2
5.703859649

7,660.35
6.307544694
0
16.95368421

5,968.19
8.644999573
4.49
18.10350877

4,873.69
6.247012018
4.49
10.68280702

20.00
15.00
10.00

5.00

profit=operating profit
23.73573068
4.500840308

23.32506743
15.01472946

22.70425105
13.7607583

19.66162093
9.272987543

28.85

9.71

9.09

15.40

2
0.350639764

0
0

4.49
0.248018219

4.49
0.420301517

0.01215436

0.027286539

0.027286539

0.00

share price - 164.55 on 1st septeember 20

164.55

8,087.80

9,222.46

9,919.69

9,125.92

7,325.14

Price earnings ratio

d = Total Assets - Current Liabilities)

Price earnings ratio

55 on 1st septeember 2013

Trend of Current Ratio

2.5
2
1.5
1
0.5
0

Trend of Quick Ratio

2.5
2
1.5
1
0.5
0

Turnover Ratios

10000
8000

8000
6000
4000
2000
0

7
6
5
4
3
2
1
0
2012

0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
2012

2012

20
18
16
14
12
10
8
6
4
2
0
2012

0.6
0.5
0.4
0.3
0.2
0.1
0
2012

Solvency Ratios

0.4
0.35
0.3
0.25
0.2
0.15
0.1
0.05
0
2012

1.6
1.4
1.2
1
0.8
0.6
0.4
0.2
0
2012

20
18
16
14
12
10
8
6
4
2
0
2012

1
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
2012

Solvency Ratios
8
7
6
5
4
3
2
1
0
2012

6
5
4
3
2
1
0

0
2012

Market Related Ratios

0.45
0.4
0.35
0.3
0.25
0.2
0.15
0.1
0.05
0
2012

Current Ratio

Current Ratio

2012

2011

2010

2009

2008

Quick Ratio

Quick Ratio

2012

2011

2010

2009

2008

Inventory Turnover Ratio

10000
8000

8000
6000
Inventory Turnover Ratio
4000

(in times)
(in times)

2000
0
2012

2011

2010

2009

2008

Debtors Turnover Ratio

Debtors Turnover Ratio

(in times)

2012

2011

2010

2009

2008

Fixed Assets Turnover Ratio

Fixed Assets Turnover Ratio

(in times)

2012

2011

2010

2009

2008

2012

2011

2010

2009

2008

Dividend Per Share

Earnings Per Share

2012

2011

2010

2009

2008

Total Assets Turnover Ratio

Total Assets Turnover Ratio

(in times)

2012

2011

2010

2009

Debt-Equity Ratio

2008

Debt-Equity Ratio

Debt-Equity Ratio

2012

2011

2010

2009

2008

Liabilities Equity Ratio

Liabilities Equity Ratio

2012

2011

2010

2009

2008

Interest Coverage Ratio

Interest Coverage Ratio

2012

2011

2010

2009

2008

Proprietory Ratio

Proprietory Ratio

Proprietory Ratio

2012

2011

2010

2009

2008

Return on Equity Shareholders fund

16
14
12
Return on Equity
Shareholders fund

(in Percent)

10
8
6
4
2
0

2012

2011

2010

2009

2012

2008

Return on Total Assets

Return on Total Assets

2012

2011

2010

2009

2008

Payout ratio
0.025

Payout ratio

0.015

0.005

2012

2011

2010

2009

2008

PAT
600
500
400
PAT

300
200
100
0
2012

2011

2010

2009

2008

Current Assets versus Current Liablities

3,000.00
2,500.00
2,000.00

Current Liabilities
Net Current Assets

1,500.00
1,000.00
500.00
0.00
2012

2011

2010

2009

2008

Net Profit Margin Ratio

Net Profit Margin Ratio

2012

2011

2010

2009

2008

2012

2011

2010

2009

2008

Dividend Yield Ratio

0.03
0.025
0.02
0.015

Dividend Yield Ratio

0.01
0.005
0
2012

2011

2010

2009

2008

Comparitive Balance
Horizontal
Analysis
Source of Funds
Sources Of Funds
Total Share Capital
Equity Share Capital
Share Application
Money
Preference Share
Capital
Reserves
Revaluation Reserves
Networth
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities

Application Of Funds
Gross Block
Less: Accum.
Depreciation
Net Block
Capital Work in
Progress
Investments
Inventories
Sundry Debtors
Cash and Bank
Balance
Total Current Assets
Loans and Advances
Fixed Deposits
Total CA, Loans &
Advances
Deffered Credit

2012-13

2011-12
285
285

285
285

6,851.97

6,722.48

7,136.97
443.54
507.29
950.83
8,087.80
Mar '12

7,007.48
1,250.00
964.98
2,214.98
9,222.46
Mar '11

12 mths

12 mths

8,569.14

8,190.01

3,817.14

3,384.82

4,752.00

4,805.19

305.99

220.78

1,788.27
0.45
709.94

1,832.82
5.34
768.31

53.32

338.15

763.71
3,625.00
0

1,111.80
3,369.72
92.63

4,388.71

4,574.15

Current Liabilities
Provisions

2,920.24
226.93

1,961.93
248.55

Total CL & Provisions

3,147.17

2,210.48

Net Current Assets

Miscellaneous
Expenses
Total Assets

1,241.54

2,363.67

8,087.80

9,222.46

Contingent Liabilities
Book Value (Rs)

16,574.14
250.42

12,566.95
245.88

aritive Balance Sheet

Absolute Change

Percentage Change
0
0

0
0

0 NA
0 NA
129.49

1.926223656

0
129.49
-806.46
-457.69
-1264.15
-1134.66

1.847882548
-64.5168
-47.42999855
-57.07275009
-12.30322495

379.13

4.629176277

432.32
-53.19

12.77231876
-1.106928134

85.21
-44.55
-4.89
-58.37

38.59498143
-2.430680591
-91.57303371
-7.597193841

-284.83
-348.09
255.28
-92.63

-84.23184977
-31.30868861
7.575703619
-100

-185.44
0

-4.054086552

958.31
-21.62

48.84526971
-8.698451016

936.69
-1122.13

42.37495928
-47.47405518

0
-1134.66

-12.30322495

4007.19
4.54

31.88673465
1.846429152

Source of Fund

2012-13

Total Share Capital

285

Equity Share Capital

285

Share Application Money

Preference Share Capital

Reserves
Revaluation Reserves
Networth

6,851.97
0
7,136.97

Secured Loans

443.54

Unsecured Loans

507.29

Total Debt

950.83

Total Liabilities

8,087.80
Mar '12
12 mths

Application Of Funds
Gross Block

8,569.14

Less: Accum. Depreciation

3,817.14

Net Block

4,752.00

Capital Work in Progress

Investments
Inventories
Sundry Debtors
Cash and Bank Balance

305.99
1,788.27
0.45
709.94
53.32

Total Current Assets

763.71

Loans and Advances

3,625.00

Fixed Deposits
Total CA, Loans & Advances
Deffered Credit
Current Liabilities
Provisions

0
4,388.71
0
2,920.24
226.93

Total CL & Provisions

3,147.17

Net Current Assets

1,241.54

Miscellaneous Expenses
Total Assets
Contingent Liabilities
Book Value (Rs)

0
8,087.80
16,574.14
250.42

2011-12

% in 2012-13
285
285
0
0
6,722.48
0
7,007.48
1,250.00
964.98
2,214.98
9,222.46
Mar '11
12 mths

8,190.01
3,384.82
4,805.19
220.78
1,832.82
5.34
768.31
338.15
1,111.80
3,369.72
92.63
4,574.15
0
1,961.93
248.55
2,210.48
2,363.67
0
9,222.46
12,566.95
245.88

% in 2011-12

Cash Flow Statement

Balance Sheet of Tata Communications

in Rs. Cr.
Mar '12

Mar '11

Reserves

6,851.97

6,722.48

Networth

7,136.97

7,007.48

950.83

2,214.98

8,087.80

9,222.46

Gross Block

8,569.14

8,190.01

Less: Accum. Depreciation

3,817.14

3,384.82

Net Block

4,752.00

4,805.19

Investments

1,788.27

1,832.82

0.45

5.34

709.94

768.31

Sources Of Funds

Total Debt
Total Liabilities
Application Of Funds

Inventories
Sundry Debtors
Cash and Bank Balance

53.32

338.15

Total CL & Provisions

3,147.17

2,210.48

Net Current Assets

1,241.54

2,363.67

Miscellaneous Expenses
Total Assets
Contingent Liabilities
Book Value (Rs)

8,087.80

9,222.46

16,574.14

12,566.95

250.42

245.88

Mar '10

Mar '09

Mar '08

6,995.78

6,513.05

6,262.34

7,280.78

6,798.05

6,547.34

2,638.91

2,327.87

777.8

9,919.69

9,125.92

7,325.14

6,820.94

5,890.00

4,352.65

2,316.14

1,792.06

1,363.75

4,504.80

4,097.94

2,988.90

2,501.30

2,723.67

2,103.77

1.25

1.56

5.45

632.29

1,342.22

1,063.13

102.9

109.21

79.63

2,259.34

3,157.73

2,451.45

2,527.44

1,767.93

1,688.70

9,919.69

9,125.92

7,325.14

10,409.16

8,449.09

5,140.02

255.47

238.53

229.73

2012

Trend Percentages
2011
2010

2009

2008

100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100