HONDA ALTAS CARS

BALANCE SHEET
2005

2006

Share Capital and Reserves

Capital
Authorised
75,000,000 (2000: 75,000,000) ordinary shares
of Rs 10 each

Issued, subscribed and paid up

Reserves
Unappropriated profit

Deferred Liabilities
Current Liabilities
Short term running finances and
other credit facilities - secured
Creditors, accrued and other liabilities
Provision for taxation
Proposed dividend

750,000,000
==========

750,000,000
==========

420,000,000
840,000,000
274,749
-----------------1,260,274,749
7,320,771

420,000,000
719,000,000
803,527
-----------------1,139,803,527
5,390,937

-654,024,324
31,229,818
84,000,000
-----------------769,254,142

-528,642,247
32,184,682
84,000,000
-----------------644,826,929

-----------------2,036,849,662
==========

-----------------1,790,021,393
==========

420,778,178
18,023,729
-----------------438,801,907
37,092,382
-----------------475,894,289

400,388,858
6,364,732
-----------------406,753,590
4,587,653
-----------------411,341,243

1,540,870
1,617,772

1,540,870
1,497,772

14,123,891
809,255,171
--

13,517,621
685,147,467
6,442,378

166,253,961
568,163,708
------------------

180,968,729
489,565,313
------------------

Contingencies and Commitments

Fixed Capital Expenditure

Fixed assets - tangible
Fixed assets - intangible

Capital work-in-progress

Deferred Taxation
Long Term Deposits
Current Assets
Stores and spares
Stock-in-trade
Trade debts
Advances, deposits, prepayments
and other receivables
Cash and bank balances

1,557,796,731
-----------------2,036,849,662
==========

1,375,641,508
-----------------1,790,021,393
==========

HONDA ALTAS CARS

PROFIT AND LOSS STATEMENT
2005
Sales
4,485,438,231
Cost of goods sold
4,060,447,653
-----------------Gross profit
424,990,578
Administration and selling expenses
170,420,278
-----------------Operating profit
254,570,300
Other income
63,049,543
-----------------317,619,843
Financial charges
Other charges

Profit before taxation

Provision for taxation
Profit after taxation
Unappropriated profit brought forward
Profit available for appropriation
Appropriations:
Transferred to general reserve
Dividend - final Rs 2 per share (2000: Rs 2 per share)

Unappropriated profit carried forward

Earnings per share

2006
3,506,531,868
3,137,808,093
-----------------368,723,775
107,626,295
-----------------261,097,480
53,135,503
-----------------314,232,983

1,655,682
21,235,598
-----------------22,891,280
-----------------294,728,563
90,257,341
-----------------204,471,222
803,527
-----------------205,274,749

2,494,309
21,240,467
-----------------23,734,776
-----------------290,498,207
99,212,674
-----------------191,285,533
517,994
-----------------191,803,527

121,000,000
84,000,000
-----------------205,000,000
-----------------274,749
==========
4.87
==========

107,000,000
84,000,000
-----------------191,000,000
-----------------803,527
==========
4.55
==========

HONDA ALTAS CARS

RATIO ANALYSIS
1) CURRENT
2) ACID TEST (QUICK)

1) DEBT-TO-EQUITY
2) DEBT-TO-TOTAL ASSETS RATIO

1) INTEREST COVERAGE

1) RECEIVABLE TURNOVER (RT)

2) RECEIVABLE TURNOVER IN DAYS (RTD)
3) INVENTRY TURNOVER
4) INVENTORY TURNOVER IN DAYS (ITD)
5) TOTAL ASSET TURNOVER

1) NET PROFIT MARGIN

2) RETURN ON INVESTEMENT (ROI)

LIQUIDITY
CURRENT ASSETS/CURRENT LIABILTIES

2.0251

CURRENT ASSETS-INVENTRY/CURRENT LIABILITIES

0.9547

LEVERAGE
TOTAL DEBT/SHAREHOLDER'S EQUITY

0.1319

TOTAL DEBT/TOTAL ASSETS

0.1067

COVERAGE
EBIT/INTEREST EXPENSE
ACTIVITY
ANNUAL NET CREDIT SALES/RECEIVABLES
365/RT
COST OF GOODS SOLD/INVENTORY
365/IT

3.2654

26.979
14
4.9314
74

NET SALES/TOTAL ASSETS

2.8793

PROFITABILITY
NET PROFIT AFTER TAX/NET SALES

4.56%

NET PROFIT AFTER TAXES/TOTAL ASSETS

13.13%

3) RETURN ON EQUITY

NET PROFIT AFTER TAXES/SHAREHOLDERS EQUITY

16.22%

AVERAGE
2.1333

2.08

1.0499

0.1588

0.15

0.1316

0.12

2.9280

3.1

19.376

23.18

19

16.18

4.4911

4.71

81

77.64

2.5490

2.71

5.46%

0.05

13.91%

0.14

16.78%

0.17

HONDA ALTAS CARS

BALANCE SHEET
2005
Share Capital and Reserves
Capital
Authorised
75,000,000 (2000: 75,000,000) ordinary shares
of Rs 10 each

Issued, subscribed and paid up

Reserves
Unappropriated profit

Deferred Liabilities
Current Liabilities
Short term running finances and
other credit facilities - secured
Creditors, accrued and other liabilities
Provision for taxation
Proposed dividend

750,000,000
==========
420,000,000
840,000,000
274,749
-----------------1,260,274,749
7,320,771

-654,024,324
31,229,818
84,000,000
-----------------769,254,142

Contingencies and Commitments

-----------------2,036,849,662
==========
Fixed Capital Expenditure
Fixed assets - tangible
Fixed assets - intangible

Capital work-in-progress

Deferred Taxation
Long Term Deposits

420,778,178
18,023,729
-----------------438,801,907
37,092,382
-----------------475,894,289
1,540,870
1,617,772

Current Assets
Stores and spares
Stock-in-trade
Trade debts
Advances, deposits, prepayments
and other receivables
Cash and bank balances

14,123,891
809,255,171
0
166,253,961
568,163,708
-----------------1,557,796,731
-----------------2,036,849,662
==========

2006

750,000,000
==========
420,000,000
719,000,000
803,527
-----------------1,139,803,527
5,390,937

-528,642,247
32,184,682
84,000,000
-----------------644,826,929
-----------------1,790,021,393
==========

400,388,858
6,364,732
-----------------406,753,590
4,587,653
-----------------411,341,243
1,540,870
1,497,772

13,517,621
685,147,467
6,442,378
180,968,729
489,565,313
-----------------1,375,641,508
-----------------1,790,021,393
==========

HONDA ALTAS CARS

PROFIT AND LOSS STATEMENT
Sales
4,485,438,231
Cost of goods sold
4,060,447,653
-----------------Gross profit
424,990,578
Administration and selling expenses
170,420,278
-----------------Operating profit
254,570,300
Other income
63,049,543
-----------------317,619,843
Financial charges
Other charges

Profit before taxation

Provision for taxation
Profit after taxation
Unappropriated profit brought forward
Profit available for appropriation
Appropriations:
Transferred to general reserve
Dividend - final Rs 2 per share (2000: Rs 2 per share)

Unappropriated profit carried forward

Earnings per share

1,655,682
21,235,598
-----------------22,891,280
-----------------294,728,563
90,257,341
-----------------204,471,222
803,527
-----------------205,274,749

121,000,000
84,000,000
-----------------205,000,000
-----------------274,749
==========
4.87
==========

823,379,062

698,665,088

3,506,531,868
3,137,808,093
-----------------368,723,775
107,626,295
-----------------261,097,480
53,135,503
-----------------314,232,983
2,494,309
21,240,467
-----------------23,734,776
-----------------290,498,207
99,212,674
-----------------191,285,533
517,994
-----------------191,803,527

107,000,000
84,000,000
-----------------191,000,000
-----------------803,527
==========
4.55
==========

HONDA ALTAS CARS

BALANCE SHEET
COMMON SIZE ANALYSIS

2005
Share Capital and Reserves
Capital
Authorised
75,000,000 (2000: 75,000,000) ordinary shares
of Rs 10 each

Issued, subscribed and paid up

Reserves
Unappropriated profit

Deferred Liabilities
Current Liabilities
Short term running finances and
other credit facilities - secured
Creditors, accrued and other liabilities
Provision for taxation
Proposed dividend

2006

36.82%
==========

41.90%
==========

20.62%
41.24%
0.01%
-----------------61.87%
0.36%

23.46%
40.17%
0.04%
-----------------63.68%
0.30%

-32.11%
1.53%
4.12%
-----------------37.77%

-29.53%
1.80%
4.69%
-----------------36.02%

-----------------100.00%
==========

-----------------100.00%
==========

20.66%
0.88%
-----------------21.54%
1.82%
-----------------23.36%

22.37%
0.36%
-----------------22.72%
0.26%
-----------------22.98%

0.08%
0.08%

0.09%
0.08%

0.69%
39.73%
0.00%

0.76%
38.28%
0.36%

8.16%
27.89%
-----------------76.48%
-----------------100.00%
==========

10.11%
27.35%
-----------------76.85%
-----------------100.00%
==========

Contingencies and Commitments

Fixed Capital Expenditure

Fixed assets - tangible
Fixed assets - intangible

Capital work-in-progress

Deferred Taxation
Long Term Deposits
Current Assets
Stores and spares
Stock-in-trade
Trade debts
Advances, deposits, prepayments
and other receivables
Cash and bank balances

HONDA ALTAS CARS

PROFIT AND LOSS STATEMENT
COMMON SIZE ANALYSIS
Sales
Cost of goods sold
Gross profit
Administration and selling expenses
Operating profit
Other income

Financial charges
Other charges

Profit before taxation

Provision for taxation
Profit after taxation
Unappropriated profit brought forward
Profit available for appropriation
Appropriations:
Transferred to general reserve
Dividend - final Rs 2 per share (2000: Rs 2 per share)

Unappropriated profit carried forward

Earnings per share

2005
100.00%
90.53%
-----------------9.47%
3.80%
-----------------5.68%
1.41%
-----------------7.08%

2006
100.00%
89.48%
-----------------10.52%
3.07%
-----------------7.45%
1.52%
-----------------8.96%

0.04%
0.47%
-----------------0.51%
-----------------6.57%
2.01%
-----------------4.56%
0.02%
-----------------4.58%

0.07%
0.61%
-----------------0.68%
-----------------8.28%
2.83%
-----------------5.46%
0.01%
-----------------5.47%

2.70%
1.87%
-----------------4.57%
-----------------0.01%
==========
0.00%
==========

3.05%
2.40%
-----------------5.45%
-----------------0.02%
==========
0.00%
==========