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Ratio Analysis (Reliance Industries)

RELIANCE INDUSTRIES LTD (RELIANCE) CashFlowFlag


BALANCE SHEET
Fiscal year ends in March. INR in millions except per share
data. 2013-03 2014-03 2015-03 2016-03 2017-03
Assets
Current assets
Cash
Cash and cash equivalents 504560 379840 125450 111970 30230
Short-term investments 288690 344580 510140 399280 612860
Total cash 793250 724420 635590 511250 643090
Receivables 97500 94110 53150 48970 81770
Inventories 546010 559970 532480 469640 534600
Other current assets 122380 132190 144550 236010 208670
Total current assets 1559140 1510690 1365770 1265870 1468130
Non-current assets
Property, plant and equipment
Gross property, plant and equipment 2343200 3014120 3854030 5299820
-
Accumulated Depreciation -884180 -959580 1027910 -1122310
Net property, plant and equipment 987150 1459020 2054540 2826120 4177510
Intangible assets 675330 870090 1174660 1423610 1056120
Other long-term assets 401950 448630 449890 546540 366260
Total non-current assets 2064430 2777740 3679090 4796270 5599890
Total assets 3623570 4288430 5044860 6062140 7068020
Liabilities and stockholders' equity
Liabilities
Current liabilities
Short-term debt 183620 327920 279650 239540 444510
Capital leases 20
Accounts payable 497000 608600 594070 612520 765950
Other current liabilities 282120 215040 511810 1006640 1142690
Total current liabilities 962740 1151560 1385530 1858700 2353170
Non-current liabilities
Long-term debt 709600 1009980 1207680 1420000 1521480
Capital leases 210 90
Deferred taxes liabilities 115880 119250 129740 138210 211980
Minority interest 9490 9590 30380 32540 29170
Other long-term liabilities 5310 10970 106450 176180 315130
Total non-current liabilities 840280 1150000 1474340 1766930 2077760
Total liabilities 1803020 2301560 2859870 3625630 4430930
Stockholders' equity
Retained earnings 139060 154430 181110 92730
Accumulated other comprehensive income 1820550 1847810 2030560 2255400 2544360
Total stockholders' equity 1820550 1986870 2184990 2436510 2637090
Total liabilities and stockholders' equity 3623570 4288430 5044860 6062140 7068020
Income Statement

Fiscal year ends in March. INR in millions except per share data. 2013-03 2014-03 2015-03 2016-03 2017-03
Revenue 3970620 4344600 3754350 2765440 3053820
Cost of revenue 3431400 3819470 3141470 2048610 2247810
Gross profit 539220 525130 612880 716830 806010
Operating expenses
Research and development 24620 19610
Sales, General and administrative 182610 74100 87670 99720 283110
Other operating expenses 153440 227580 255640 265000 169790
Total operating expenses 336050 301680 343310 389340 472510
Operating income 203170 223450 269570 327490 333500
Interest Expense 24860 25130 31570
Other income (expense) 59000 64180 66430 57430 98410
Income before taxes 262170 287630 311140 359790 400340
Provision for income taxes 53310 62150 74740 82640 -102010
Net income from continuing operations 208860 225480 236400 277150 502350
Other -70 -550 -740 -850 -203340
Net income 208790 224930 235660 276300 299010
Net income available to common shareholders 208790 224930 235660 276300 299010
Earnings per share 35.42 38.27 40.05 46.89 50.57
Basic 35.33 38.27 40.05 46.89 50.66
Diluted 35.33 38.27 40.05 46.89 50.57
Weighted average shares outstanding
Basic 5895 5877 5884 5892 5902
Diluted 5895 5877 5884 5892 5913
EBITDA 396570 396280 451470 514080 548370
Market Price Per Share 431 432 442 495 537
Gross Profit Ratio

Gross Profit Ratio = Gross Profit / Net Sales

Year 2012-13 2013-14 2014-15 2015-16 2016-17


Ratio 13.58 12.09 16.32 25.92 26.39

Gross Profit Ratio


30.00

25.00

20.00

15.00

10.00

5.00

0.00
2012-13 2013-14 2014-15 2015-16 2016-17

Net Profit Ratio

Net Profit Ratio = Net Profit after TAX / Net Sales

Year 2012-13 2013-14 2014-15 2015-16 2016-17


Ratio 5.26 5.18 6.28 9.99 9.79

Net Profit Ratio


12.00

10.00

8.00

6.00

4.00

2.00

0.00
2012-13 2013-14 2014-15 2015-16 2016-17

Operating Profit Ratio


Operating profit ratio = Operating profit / Net sales

Year 2012-13 2013-14 2014-15 2015-16 2016-17


Ratio 5.12% 5.14% 7.18% 11.84% 10.92%

Operating Profit Ratio


14.00%

12.00%

10.00%

8.00%

6.00%

4.00%

2.00%

0.00%
2012-13 2013-14 2014-15 2015-16 2016-17

Current Ratio

Current Ratio = Current Assets / Current Liabilities

Year 2012-13 2013-14 2014-15 2015-16 2016-17


Ratio 1.62 1.31 0.99 0.68 0.62

Current Ratio
1.80
1.60
1.40
1.20
1.00
0.80
0.60
0.40
0.20
0.00
2012-13 2013-14 2014-15 2015-16 2016-17
ROE (Return on Equity)

ROE = Net Income / Shareholders Equity

Year 2012-13 2013-14 2014-15 2015-16 2016-17


Ratio 11.47% 11.32% 10.79% 11.34% 11.34%

Return on Equity Ratio


11.60%

11.40%

11.20%

11.00%

10.80%

10.60%

10.40%
2012-13 2013-14 2014-15 2015-16 2016-17

ROA (Return on Assets)

ROA = Net Income / Total Assets

Year 2012-13 2013-14 2014-15 2015-16 2016-17


Ratio 5.76% 5.25% 4.67% 4.56% 4.23%

Return on Asset
7.00%

6.00%

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%
2012-13 2013-14 2014-15 2015-16 2016-17

PE Ratio (Price Earnings Ratio)

PE Ratio = Market Value per Share / Earnings per Share

Year 2012-13 2013-14 2014-15 2015-16 2016-17


Ratio 11.4 11.1 12.1 9.4 11.2
Price Earnings Ratio
14

12

10

0
2012-13 2013-14 2014-15 2015-16 2016-17

Debt-Equity Ratio

Debt-Equity Ratio = Total Liabilities / (Total Assets Total Liabilities)

Year 2012-13 2013-14 2014-15 2015-16 2016-17


Ratio 0.39 0.51 0.60 0.66 0.70

Debt to Equity Ratio


0.80

0.70

0.60

0.50

0.40

0.30

0.20

0.10

0.00
2012-13 2013-14 2014-15 2015-16 2016-17

Average Collection Period

Average Collection Period = (Days X AR) / Credit Sales

Where, Days = Total Amount of days in period

AR = Average amount of accounts receivable

Credit Sales = Total amount of net credit sales during period

Year 2012-13 2013-14 2014-15 2015-16 2016-17


Ratio 8.96 7.91 5.17 6.46 9.77
Average Collection Period
12.00

10.00

8.00

6.00

4.00

2.00

0.00
2012-13 2013-14 2014-15 2015-16 2016-17

Interest Coverage Ratio

Interest Coverage Ratio = EBIT / Interest Expense

Year 2012-13 2013-14 2014-15 2015-16 2016-17


Ratio - - 10.84 13.03 10.56

Interst Coverage Ratio


14.00

12.00

10.00

8.00

6.00

4.00

2.00

0.00
2014-15 2015-16 2016-17