INTRODUCTION

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ADANI PORTS & SPECIAL ECONOMIC ZONE LTD:
Type Public

Traded BSE: 532921 NSE: ADANIPORTS

Industry Port & Shipping

Founded 26 May 1998

Founder Gautam Adani

Headquarters Adani House, Navarangpura,

Ahmedabad, Gujarat, India

Key people Gautam Adani (Chairman & MD)

Karan G. Adani (CEO)

Deepak Maheshwari (CFO)

Dr. Malay R. Mahadevia

(Whole Time Director)

Revenue 94.79 billion (US$1.4 billion) (FY 2016–17)

Net income 38.92 billion (US$560 million) (FY 2016–17)
Parent Adani Group

Website adaniports.com

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HISTORY:
We were incorporated as Gujarat Adani Port Limited on May 26, 1998, and commenced
phased operations at Mundra Port in October 1998 with commercial operations beginning
in October 2001. We were initially promoted by Adani Port Limited and Gujarat Port
Infrastructure Development Company Limited, an undertaking of the Government of
Gujarat.

We entered into a Concession Agreement with the GMB and the Government of Gujarat on
February 17, 2001, pursuant to which we have been granted the right to develop and
operate Mundra Port located at the National Island in the Kutch region for a period of 30
years.

Adani Ports & Special Economic Zone Ltd. Company History and Annual Growth Details: -
We were incorporated as Gujarat Adani Port Limited on May 26, 1998, and commenced
phased operations at Mundra Port in October 1998 with commercial operations beginning
in October 2001. We were initially promoted by Adani Port Limited and Gujarat Port
Infrastructure Development Company Limited, an undertaking of the Government of
Gujarat.

We entered into a Concession Agreement with the GMB and the Government of Gujarat on
February 17, 2001 pursuant to which we have been granted the right to develop and
operate Mundra Port located at the Navinal Island in the Kutch region for a period of 30
years.

Pursuant to an order of the High Court of Gujarat, Adani Port Limited merged with us with
effect from April 1, 2003. Further, MSEZ and ACL were merged with us with effect from April
1, 2006.

We received approval as a developer of a multi-product SEZ at Mundra and the surrounding

areas from the Government of India on April 12, 2006. We have already received
notification from the Government of India with respect to land covering 2,406.8 hectares
(approximately 5,947 acres) on June 23, 2006. On July 3, 2007, we received a subsequent
notification with respect to an additional 251.4 hectares of land, resulting in a total of
2,658.2 hectares (approximately 6,568 acres). Such notification is granted only once land is

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in the possession of a developer, and as we further acquire land in and around Mundra, we
will look to receive additional notifications in relation to such further acquired land.

In order to reflect the significance of the SEZ status and the changing nature of our business,
we changed our name from Gujarat Adani Port Limited to Mundra Port and Special
Economic Zone Limited with effect from July 7, 2006.

GROWTH OF THE ORGANISATION

Over the years, APSEZ has evolved into a provider of integrated port infrastructure services,
of which the Mundra SEZ in Gujarat is a landmark validation spanning over 8,000 hectares,
the Mundra Economic Hub offers investment options as the largest multi-product SEZ, Free
Trade and Warehousing Zone (FTWZ) And Domestic Industrial Zone.
 Adani Ports and Special Economic Zone Limited (Adani Ports & SEZ) is India's largest
private multi-port operator.
 Adani Ports & Special Economic Zone Ltd., incorporated in the year 1998, is a company
(having a market cap of Rs 74305.75 Crore) operating in Miscellaneous sector.
 Adani Ports & Special Economic Zone Ltd. Key Products/Revenue Segments include
Income from Port Services which contributed Rs 4367.18 Crore to Sales Value (81.83
% of Total Sales).
 Infrastructure Leasing Income which contributed Rs 780.40 Crore to Sales Value (14.62
% of Total Sales).
 Export Incentives which contributed Rs 139.24 Crore to Sales Value (2.60 % of Total
Sales) and Other Operating Revenue which contributed Rs 49.56 Crore to Sales Value
(0.92 % of Total Sales) for the year ending 31-Mar-2019.

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 While India’s export-import imbalance may be a cause for concern, the steady
improvement in trade activity is brightening the prospects for ports and logistics firms.
 The quarter ended 30-06-2019, the company has reported a Consolidated sale of Rs
2794.47 Crore, down -9.34 % from last quarter Sales of Rs 3082.49 Crore.
 Up 15.90 % from last year same quarter Sales of Rs 2411.03 Crore Company has
reported a net profit after tax of Rs 1028.67 Crore in the latest quarter.
 While India’s export-import imbalance may be a cause for concern, the steady
improvement in trade activity is brightening the prospects for ports and logistics firms

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Vision, Mission
&
CSR Activities

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 “To be a globally admired leader in infrastructure operation and maintenance services
with a deep commitment to green initiatives and sustainability. We shall be known for
the scale of our ambition, technological leadership, and customer delight”

 We shall invest in our human resources to create a strong sense of purpose and
inspiration to our employees
 We shall always strive to adopt the latest technologies and innovate with the passion
to achieve efficiency and leadership in all aspects of our services.

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 CSR ACTIVITY
 Saksham: Adani Skill Development Centre
 Swachhagraha: Swachhata ka Satyagraha
 SuPoshan: Curbing malnutrition and anaemia amongst 0-5 years children,
adolescent girls and women of reproductive age

Udaan: Inspiring young minds

 This flagship initiative of the Adani Skill Development Centre is built around the vision
of creating a ‘Saksham’ India, where the youth are capable of achieving their goals by
transforming into skilled professionals.
 The objective is to bring world-class skill development opportunities to Indian youth,
an opportunity they would otherwise have no access to.
 They have a total capacity to skill 20,000 youth annually.
 ASDC is the first skill imparting institute in the country to offer courses like Simulator-
based Crane Operation, 3D printing and Welding through Augmented Reality.

Adani Skill Development Centre has trained over 6,500 candidates in FY18 on various skill
development programs and over 70% of candidates are provided with livelihood
opportunities.
The Adani Group’s CSR arm i.e. Adani Foundation is actively working in the area of education,
community health, sustainable livelihood development and rural infrastructure development.
The overriding objective is to empower communities in our immediate environments and
shape a dignified life for them.

Besides these there are four distinguished projects which aim at bringing systematic change
in the areas of intervention:

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 CSR Project By Adani Ports and Special Economic Zone Ltd

Location - Project -
Budget - INR
Mundra Saksham :
8.23cr
Gujarat 17-18

Project Sector: Education, Employability and Livelihoods Enhancement

Implementing Partners: Adani Foundation

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 ORGANISATION STRUCTURE

Board of Directors

Mr. GAUTAM ADANI (CHAIRMAN AND

MANAGING DIRECTOR)

MR. RAJESH ADANI (Non-Independent and Non-Executive)

MR. KARAN ADANI (Whole Time Director)

MR. GANESAN RAGHURAM (Independent and Non-

Executive Director)

MR. MALAY MAHADEVIA (Whole Time Director)

MRS. SONU BHASIN (Non-Executive & Independent

Director)

MR. G. K. PILLAI (Independent & non-executive director)

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PRODUCTS AND SERVICES

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 SERVICES

ADANI PORTS &SEZ PLANTS

 MUNDRA, GUJARAT

 VIZAG, ANDHRA PRADESH (TERMINAL)

 HAZIRA, GUJARAT

 KATTUPALLI, TAMIL NADU

 DEHAJ PORT, GUJARAT

 ENNORE, TAMIL NADU (TERMINAL

 TUNA PORT, GUJARAT (TERMINAL

 DHARMA, ODISHA

 TUNA PORT, GUJARAT (TERMINAL

 DHARMA, ODISHA

MUNDRA PORT – MUILTY CARGO PORT

In total 10 ports, Mundra port was the biggest port in India

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 200 million cargos trnaspotation per yer

• Fully mechanized cargos at work

• 40 cargos work pre hr
• Man and machin get to gether working
• 1000's of pepple wokinf 24/7and 365 days

70 km privet railway line inside at the potr for transport all

kinds
• Cars
• Cars
• Liquid
• Merchandise

India has totally 8000 km port area and it has 200 ports
 only 13 ports are having 75% transport system
 95% mechanical business via Indian port

Storage
 200 thousand SQ meters for godowns
 97 tanks have 4000 thousand kilolitres for liquid materials

Safety
 Thugs are using for safety 6000 branch power
 Using tablets for all GPS operations

Main transport on Mundra port

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 Mega container ship Zambia

 This ship contains all types of merchandise transport

Mega oil tanker Bungakasthuri lima

 This ship has contains nearly 2000 cars

 When ever loading the cars to the ship it will washable

Mega vehicle Durban highway

2000 metric tons of crude oil

 The ships has 10000 poles (1pole = 250000 thons of capacity

Mega coal ship for tier quine (Singapore)

 Mega coal vessel has 165 metric tons of capsity
 This coal using with tata power generate the 8000 kilowatt current

Processing of activities at port

• Mundra port has 18 big cranes floral operations
• This cranes also using for loading and unloading
• All function operations at Mundra port
• Mundra port has own software to the all operations
ZAMBIA SHIP FOR MARCHANDISE

DURBUN HIGHWAY FOR CARS

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BUNGA KASTHTHURI LIMA FOR ALL TYPE OF LIQUID

MEGA COLE SHIP

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 TOP COMPETITIORS OF ADANI PORTS AND SEZ

1.All cargo Logistics:

It provides integrated logistics solutions for multimodal transport operations (MTO),
container freight stations (CFS), and project and engineering (P&E) segment. According to a
report by Maybank Kim Eng, the company’s MTO and CFS businesses will report strong
volumes. Uptick in capex in oil and gas, cement, and steel sectors will benefit Allcargo’s P&E
segment. The brokerage expects 79% growth in earnings per share in the second half of
2018-19.

Industry - Logistics and transportation

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Founded - Mumbai, India (1993)
Founder - Shashi Kiran Shetty
Headquarters - Mumbai, Maharashtra,India
Revenue - INR 6046.91 Cr
Number of employees - 4500 (2019)

2.Transport Corporation of India:

This logistics and supply chain solutions provider has an extensive network of over 1,400
offices and access to 12 million sq. ft of warehousing space. Dolat Capital is bullish on the
stock due to the demand pick up in commercial vehicles, brown goods and the SME
segments.Supply chain management and coastal services segments will act as significant
growth drivers for the company. The brokerage expects an earnings CAGR of around 10%
between 2017-18 and 2019-20.

Industry - Logistics and supply chain management

Founded - 1958
Headquarters - Gurgaon, Haryana, India
Key people - D.P.Agarwal (Vice Chairman & Managing Director), Vineet Agarwal (Managing
Director), Chander Agarwal (Joint Managing Director)
Revenue - INR 2270.00 CR
Number of employees - 5,000+

3.VRL Logistics:
It is engaged in goods and passenger transportation. In the logistics segment, it offers
courier, full truck load and liquid transportation services. Analysts believe that improved
business sentiment and pricing power will help the company. It may also benefit from the
regulatory changes in the axle load norms. However, there are some concerns due to the
lack of high growth in tonnage per km, which is affecting the company’s performance.

Type - Transportation and Logistics

Founded - 1976; 43 years ago in Gadag, Karnataka, India

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Founder - Vijay Sankeshwar
Headquarters - Hubballi, Karnataka, India
Area served – India
Key people - Vijay Sankeshwar , Chairman & Managing Director
Revenue – INR 2109.54 CR
Owner - Vijay Sankeshwar

4.Container Corporation of India:

It is engaged in the transport and handling of rail and road containers. According to by Dolat
Capital, Dedicated Freight Corridor (DFC), expected to be functional in 2020, will be the key
long-term trigger and will boost the company’s volumes and margins. The management is
also confident of managing any increase in haulage charges, post elections.

Industry - A Multi-Modal Logistics Company Containerise Cargo Transport

Founded - March 1988 Incorporated November 1989, Operational
Headquarters - New Delhi, India
Key people - Sh.V.Kalyana Rama (Chairman & Managing Director)
Owner - Government of India under Ministry of Railways (India)
Revenue – INR 6761 CR
Parent - Ministry of Railways (India)

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 RATIO ANALYSIS

1.Current Ratio
The current ratio is a liability rate that measures a company's ability to pay short term and
long-term applications to this ability the current ratio considered the current total assets of
the company both liquid and liquid related to the company's current total liabilities the
formula of the calculating a company's current ratio
Current Ratio = Current Assets / Current Liabilities

PARTICULARS 2015 2016 2017 2018 2019

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 CURRENT 57802.20 57917.20 90732.30 96969.90 117740.40
ASSETS
CURRENT 10802.70 12275.50 14183.70 15887.30 12200.30
LIABILITIES
CURRENT RATIO 5.35 4.71 6.39 6.10 9.65

CURRENT RATIO
12
9.65
10

8 6.39 6.1
5.35
6 4.71

0
1 2 3 4 5

INTERPRETATION:
The Current Ratios gives us the fair image of how the company is on terms of their ability to
repay their obligations. With comparison to the ratio in 2015 which stood at 5.35 it is
evident that the company is in a better position to repay their liabilities as the ratios in 2019
stands at 9.65.

2.Debt-Equity Ratio
The debt-equity ratio measures the amount of the debt capital FM uses compared to the
amount of the equity capital it uses a ratio of 1.00 X indicates that uses the same amount
update as equity and means that creditors how claim to all acids leaving nothing for
shareholders in the event of theoretical liquidation
Debt Equity Ratio = The Liabilities / Shareholders Equity

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 PARTICULARS 2015 2016 2017 2018 2019
TOTAL DEBT 117649 155079.90 202071.50 200274.20 248944.60
TOTAL 112031.60 135658.10 168648.50 183749.50 205916.10
SHARE
HOLDERS
FUND
DEBT EQITY 1.05 1.14 1.19 0.10 1.20
RATIO

DEBT EQUITY RATIO

1.25
1.19 1.2
1.2
1.14
1.15
1.08
1.1
1.05
1.05

0.95
1 2 3 4 5

INTERPRETATION:
The ratio stood at 1.05 in the year 2015 and 1.2 in the year 2019.

3.Debtors Turnover Ratio

The Debtors Turnover Ratio also called as Receivables Turnover Ratio shows how quickly the
credit sales are converted into cash. This ratio measures the efficiency of the important
things that need to be taken care of is, generally the companies use total sales in the place
of net sales, which gives an inflated turnover ratio. Thus, while calculating this ratio, only the
net credit sales are to be taken into consideration.

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Debtors Turnover Ratio = Net Credit Sales/Average Account Receivable.

PARTICULARS 2015 2016 2017 2018 2019

NET SALES 39093.60 46191.70 48788.60 65338.20 53363.80
SUNDARY 7489.80 15610.50 17920.90 32862.80 19100.60
DEBTORS
DEBTORS 5.21 2.95 2.72 1.98 2.79
TURN OVER
RATIO

DEBTORS TURN OVER RATIO

6
5.21
5

4
2.95 2.79
2.72
3
1.98
2

0
1 2 3 4 5

INTERPRETATION:

The company turnover ratio is 2.79 in fifth year it shows that debt of the company takes 130
days to collect the debt .

4.Working Capital Turnover Ratio

Working capital also known as networking capital is the difference between a company
current asset like cash accounts receivable customers and paid bills and in inventors of the
raw materials and finished goods at the current liabilities like accounts payable
Working Capital Ratio = Net Assets/Working Capital
Particulates 2015 2016 2017 2018 2019

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 Sales 39093.60 46191.70 48788.60 65338.20 53363.80
Working 46999.5 45641.6 76548.6 81082.6 105540.1
capital
WCTOR 0.83 1.01 0.63 0.8 0.5

WORKING CAPITAL TURN OVER RATIO

1.2
1.01
1
0.83 0.8
0.8
0.63
0.6 0.5

0.4

0.2

0
2015 2016 2017 2018 2019

INTERPRETATION:
The working capital turnover ratio measures how well a company is utilizing its working
capital to support a given level of sales. A high turnover ratio indicates that management is
being extremely efficient in using a firm's short-term assets and liabilities to support
sales.The working capital turnover ratio in the years 2016 is the highest which means
company is utilising its working capital.It is lowest in the year 2019 which means company is
not utilising its working capital properly.

6.Gross Profit Ratio

Gross profit ratio is profitability that the shows that relationship between gross profit and
total net assets revenue it is popular to evaluate the operational performance of the
business the ratio computed by dividend the gross profit figure by net sales

GROSS PROFIT RATIO = GROSS PROFIT / NET ASSETS

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 Particulars 2015 2016 2017 2018 2019
Gross profit 26367.90 3625.90 38336.50 42997 41378
Net sales 39090.60 461191.70 48788.60 65338.20 53363.80
Gross profit 59% 78% 78% 65% 77%
ratio

GROSS PROFIT RATIO

90%
78% 78% 77%
80%

70% 65%
59%
60%

50%

40%

30%

20%

10%

0%
2015 2016 2017 2018 2019

Series 1 Column1 Column2

INTERPRETATION:
It is a measure of the efficiency of a company using its raw materials and labour during the
production process. The value of gross profit margin varies from company and industry. The
higher the profit margin, the more efficient a company is.The gross profit in the years
2016,2017 and 2019 is 78% , 78% and 79% respectively which means the company is using
its raw materials effectivel
6.Net Profit Ratio
It establishes a relationship between net profit earned and net revenue generated from
operations (net sales). NP ratio helps to determine the overall efficiency of the business’
operations, furthermore, it is an indicator of how well a company’s trading activities are
performing.

Net Profit Ratio = Net Profit After Tax / Net Sales

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 Particulars 2015 2016 2017 2018 2019
Net profit 21813.40 2999447.50 30716 25794 27048
Net sales 39093.60 46191.70 48788.60 65338.20 53363.80
Net profit 55% 63% 62% 39% 50%
ratio

NET PROFIT RATIO

70%
62% 63%

60% 55% 55%

50%
39%
40%

30%

20%

10%

0%
2015 2016 2017 2018 2019

Series 1 Column2 Column1

INTERPRETATION:
Net profit (NP) ratio is a useful tool to measure the overall profitability of the business. A
high ratio indicates the efficient management of the affairs of business.Net profit was
highest in the years 2017 and 2018 which means company was working efficiently and it
was lowest in the year 2016 which means company was not working properly.

7. Operating ratio

Operating costs includes the cost of direct materials, direct labour and other over heads,
viz., factory, office or selling. Financial changes such ass interest provision for taxation etc.,
are generally exclude ed from operating costs
𝑜𝑝𝑒𝑎𝑟𝑡𝑖𝑛𝑔 𝑐𝑜𝑠𝑡𝑠
Operating ratio = × 100
𝑁𝑒𝑡 𝑠𝑎𝑙𝑒𝑠

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 PARTICULERS 2015 2016 2017 2018 2019
Operating 193450 253462 258450 426084 331359
costs
Net sales 6151.98 7108.65 8439.35 11321.96 10925.44
Operating 31.44 35.65 30.62 37.36 30.32
ratio

Operating ratio
40 37.36
35.65
35 31.44 30.62 30.32
30

25

20

15

10

0
1 2 3 4 5

INTERPRETATION:
This ratio is the test of operational efficiency with which the business is being carried the
operating ratio should be low in to level a portion of sales to give your favourite and to the
investors operation of operating ratio will be indicated whether the cost component is high
or low in the figure of sales.
8.Return on Investment ratio: It is the ratio of Operating Profit to total Investment.

𝒑𝒓𝒐𝒇𝒊𝒕𝒔 𝒂𝒇𝒕𝒆𝒓 𝒕𝒂𝒙

Return on Investment = X 100
𝑰𝒏𝒗𝒆𝒔𝒕𝒎𝒆𝒏𝒕

2015 2016 2017 2018 2019

33,455.80 44,800.40
PROFITS 48,317.20 58,188.00 60,050.40

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 INVESTMENTS 49651.50 53128.70 104103.90 105423.30 139565.90
RETURN ON
INVESTMENTS 67.38 84.32 46.41 55.19 43.02

INTERPRETATION: return on investment shows that how efficiently the company is using its
assets base to generate sales. So, by looking in above graph 8 it shows that the year 2015
and 2019 was net profits and the company is using assets base to generate sales.
But in years 2016and 2019 it shows that there were net losses which indicates that due to
poor management or factors beyond its control which struggles during the period of
investment

9.Return on Equity: It measures the ability of a firm to generate profits from its
shareholders investments in the company.
𝑷𝒓𝒐𝒇𝒊𝒕 𝒂𝒇𝒕𝒆𝒓 𝒕𝒂𝒙
Return on Equity= X 100
𝑵𝒆𝒕𝒘𝒐𝒓𝒕𝒉

2015 2016 2017 2018 2019

NET PROFIT 21831.40 29645.00 31006.10 24081.00 26377.20

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 NET WORTH 112031.60 135658.10 168648.50 183749.50 205916.10
RETURN ON EQUITY 0.1949 0.2186 0.1839 0.131054 0.12809

INTERPRETATION:
BY looking at above graph 9, there were net losses in the year 2017 and 2018 which shows
that their shareholders were losing, rather than gaining value.
But in year 2016 it shows that were a positive sign which shows that management is
handling the money that shareholders have contributed to it by comparing to remaining
years.

10.Earnings Per Share: It represents the earning made per equity share.

𝑷𝒓𝒐𝒇𝒊𝒕 𝒂𝒇𝒕𝒆𝒓 𝒕𝒂𝒙

Earnings Per Share = 𝑵𝒖𝒎𝒃𝒆𝒓 𝑶𝒇 𝑶𝒖𝒕𝒔𝒕𝒂𝒅𝒊𝒏𝒈 𝑬𝒒𝒖𝒊𝒕𝒚 𝑺𝒉𝒂𝒓𝒆𝒔 X 100

2015 2016 2017 2018 2019

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 Deferred Tax 565.50 1252.50 593.7 429.5 2463.50
Share Capital 4168.20 4141.90 4141.90 6717.60 6800.10
EARNIGS PER 103.2 143.1 149.7 116.3 127.4
SHARE

Earnings Per Share Ratio

160 149.7
143.1
140 127.4
116.3
120 103.2
100

80

60

40

20

0
1 2 3 4 5

INTERPRETATION: By looking at the above graph 9, it shows that company was in net
losses for the year 2015 and 2018 so we cannot find earnings per share because earnings
per share could not be negative. So, we can find earnings per share ratio only when they are
profits in company because it determines the market share price of the equity share price of
a company.

2015 2016 2017 2018 2019

CURRENT 5.35 4.71 6.39 6.10 9.65
RATIO

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 Debit Equity 1.05 1.14 1.19 0.10 1.20
Ratio
Debtors 5.21 2.95 2.72 1.98 2.79
Turnover Ratio
Working Capital 2.17 7.96 1.02 0.86 1.24
Ratio
Gross Profit 0.60 0.68 0.71 0.60 0.71
Ratio
Net Profit Ratio 0.61 0.654 0.66 0.37 0.51
Operating Ratio 0.36 0.35 0.32 0.37 0.39
Return On 67.38 84.32 46.41 55.19 43.02
Investment
Ratio
Return On 0.1949 0.2186 0.1839 0.131054 0.12809
Equity Ratio
Earnings Per 103.2 143.1 149.7 116.3 127.4
Share Ratio

Graphs:

Total Assets:

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 Total Assets

2015
14%
26% 2016
17%
2017
2018
22% 21%
2019

Current Asset:

CURRENT ASSETS
57802.2

1
2
117740.4 57917.2
3

96969.9 90732.3 4
5

BIBLIOGRAPHY

www.capitaline.com

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www.adaniports.com

www.wikipedia.org

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 ANNEXURE

PROFIT AND LOSS ACCOUNT

INCOME :
Sales Turnover + 46,191.70 48,788.60 65,338.20 53,363.80
Excise Duty 0 0 0 0
Net Sales 46,191.70 48,788.60 65,338.20 53,363.80
Other Income + 11,727.70 12,846.70 16,073.20 23,429.00

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Stock Adjustments + 0 0 0 0
Total Income 57,919.40 61,635.30 81,411.40 76,792.80
EXPENDITURE :
Raw Materials + 0 0 0 0
Power & Fuel Cost+ 2,944.20 2,778.10 2,372.10 2,786.80
Employee Cost + 1,789.20 2,109.90 1,937.80 2,308.90
Other Manufacturing Expenses + 5,454.70 5,271.10 13,048.40 7,368.70
Selling and Administration Expenses
+ 1,405.70 2,050.10 2,048.20 2,289.10
Miscellaneous Expenses + 1,525.20 1,108.90 3,816.90 1,988.90
Less: Pre-operative Expenses
Capitalised+ 0 0 0 0
Total Expenditure 13,119.00 13,318.10 23,223.40 16,742.40
Operating Profit 44,800.40 48,317.20 58,188.00 60,050.40
Interest + 8,544.50 9,980.70 15,191.00 18,671.90
Gross Profit 36,255.90 38,336.50 42,997.00 41,378.50
Depreciation+ 5,193.20 5,407.10 4,705.20 4,742.10
Profit Before Tax 31,062.70 32,929.40 38,291.80 36,636.40
Tax+ 165.2 1,329.60 13,781.30 7,795.70
Fringe Benefit tax+ 0 0 0 0
Deferred Tax+ 1,252.50 593.7 429.5 2,463.50
Reported Net Profit 29,645.00 31,006.10 24,081.00 26,377.20
Extraordinary Items + 197.5 290.1 -1,713.00 -671.2
Adjusted Net Profit 29,447.50 30,716.00 25,794.00 27,048.40
Adjst. below Net Profit + -5,492.10 23.3 -7,661.60 -7.5
P & L Balance brought forward 64,232.60 83,231.70 1,10,704.50 1,21,383.50
Statutory Appropriations 0 0 0 0
Appropriations + 5,153.80 3,556.60 5,740.40 5,815.20
P & L Balance carried down 83,231.70 1,10,704.50 1,21,383.50 1,41,938.00
Dividend 0 0 0 0
Preference Dividend 0 0 0 0
Equity Dividend % 550 650 1,000.00 100
Dividend Per Share(Rs) 11 13 20 2
Earnings Per Share-Unit Curr 143.1 149.7 116.3 127.4
Earnings Per Share(Adj)-Unit Curr 143.1 149.7 116.3 127.4
Book Value-Unit Curr 647 806.3 874.8 981.5
Book Value(Adj)-Unit Curr 647 806.3 874.8 981.5

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BALANCE SHEET

SOURCES OF FUNDS:
Share Capital + 4,141.90 4,141.90 6,717.60 6,800.10
Reserves Total + 1,29,857.40 1,62,847.80 1,77,031.90 1,99,116.00
Equity Share Warrants 0 0 0 0
Equity Application Money 1,658.80 1,658.80 0 0
Total Shareholders Funds 1,35,658.10 1,68,648.50 1,83,749.50 2,05,916.10
Secured Loans + 56,922.80 72,332.00 75,755.30 56,878.20
Unsecured Loans + 98,157.10 1,29,739.50 1,24,518.90 1,92,066.40
Total Debt 1,55,079.90 2,02,071.50 2,00,274.20 2,48,944.60
Other Liabilities+ 8,278.60 7,573.60 8,425.10 7,183.20
Total Liabilities 2,99,016.60 3,78,293.60 3,92,448.80 4,62,043.90
APPLICATION OF FUNDS :
Gross Block + 91,023.50 94,767.60 94,990.40 1,11,126.20
Less : Accumulated Depreciation
+ 5,787.80 10,871.70 15,423.80 20,384.00
Less: Impairment of Assets 0 0 0 0
Net Block + 85,235.70 83,895.90 79,566.60 90,742.20
Lease Adjustment 0 0 0 0
Capital Work in Progress+ 8,566.00 14,580.80 16,269.10 7,747.70
Producing Properties 0 0 0 0
Investments + 53,128.70 1,04,103.90 1,05,423.30 1,39,565.90
Current Assets, Loans &
Advances
Inventories + 1,248.20 5,230.00 3,634.10 6,254.50
Sundry Debtors + 15,610.50 17,920.90 32,862.80 19,100.60
Cash and Bank+ 9,376.20 15,520.10 12,730.90 38,694.80
Loans and Advances + 31,682.30 52,061.30 47,742.10 53,690.50
C 57,917.20 90,732.30 96,969.90 1,17,740.40
Less : Current Liabilities and
Provisions
Current Liabilities + 11,503.20 12,121.90 14,502.40 11,719.90
Provisions + 772.3 2,061.80 1,384.90 480.4

Total Current Liabilities 12,275.50 14,183.70 15,887.30 12,200.30

Net Current Assets 45,641.70 76,548.60 81,082.60 1,05,540.10
Miscellaneous Expenses not
written off + 0 0 0 0
Deferred Tax Assets 21,137.40 26,850.20 20,254.00 19,495.70
Deferred Tax Liability 8,579.90 9,205.00 8,935.40 11,449.10
Net Deferred Tax 12,557.50 17,645.20 11,318.60 8,046.60
Other Assets+ 93,887.00 81,519.20 98,788.60 1,10,401.40
Total Assets 2,99,016.60 3,78,293.60 3,92,448.80 4,62,043.90
Contingent Liabilities+ 34,262.10 30,926.50 38,273.00 58,048.00

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