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Column1

Particulars
Short Term Liquidity
Current Ratio
Average Daily Expenses
Cash Cover
CA Cover
Quick Ratio
Long-term liquidity
Column1
Particulars
Gearing (Net gain from
borrowed funds)
Equity multiplier ratio
Times interest coverage
ratio
Long-term debt to
Equity ratio
Total debt to total
capital ratio
Profitability, focusing
on Margin on Sales
Particulars

Column2
Formulae

Current Assets/ Current Liabilities


(Operating Expenses + Tax)/ 365
Cash/ Average Daily Expenses
Current Assets/ Average Daily Expenses
Quick Assets/ Quick Liabilities
Column2
Formulae

Total Assets/ Net worth

Column3
Emami
2011
2.72
277
73.77
150.81
1.92

Column4
2010
2.02
219
72.82
141.78
1.51

Column3
Column4
Emami
2011
2010

3.05

3.41

-22.84

11.89

Long Term Liabilities/ Net Worth

0.28

0.48

Total Debt/ Capital Employed

0.42

0.50

Earnings before Interest and tax / Interest

Formulae

Emami
2011
19%
22%
58%

2010
16%
22%
62%

net profit margin


operating profit margin
gross profit margin
Profitability, focusing
on Return on
Investment
Column1
Particulars

Net Profit/ Sales *100


Operating Profit/ Sales *100
Gross Profit/ Sales *100

return on capital
employed
return on equity

Net Income/ Average Capital employed


*100
Net Income/ Average Net Worth *100

26%
72%

22%
60%

operating profit to
operating assets ratio

Operating Profit/ Average Operating Assets


*100

31%

27%

Return on Net Worth


Return on gross
invested capital

Net Income/ Average Net Worth *100


Total Income/ Total investment
(ES+PS+LTL) *100

72%

60%

26%

22%

Column2
Formulae

Column3
Emami
2011

Column4
2010

Profitability, focusing
on Efficiency of Use of
Assets
Column1
Column2
Particulars
Formulae
working capital
turnover
operating asset
turnover

Column4
2010

Sales/ Average Working Capital

3.55

6.32

Sales/ Average operating Assets

1.46

1.24

1.20
2.34

1.12
1.72

Total Asset Turnover


(asset utilization ratio) Sales/ Average total assets
FA Turnover
Sales/ Average Fixed assets
Profitability, focusing
on Return per Share of
Equity
Particulars
Formulae
Dividend Per Share

Column3
Emami
2011

Diluted EPS
Basic EPS

Dividend Paid/ number of shares


Earnings (diluted) / Diluted number of E
shares
Earnings / Number of E shares

Market-Based Ratios
Column1
Particulars

Column2
Formulae

Emami
2011
3.50
15.03
15.03

Column3
Emami
2011

2010
6.00
21.86
21.86

Column4
2010

Dividend Yield
P/E Ratio

Dividend Per share/ Market Price Per share


Market Capitalisation/ Net Income

1%
26.61

2%
14.18

P/BV Ratio

8.69

3.74

Book Value per Share

Market Price/ Book value (Per Equity share)


(Shareholder's Equity - Preference Shares)/
Number of Shares

46.05

82.79

Dividend Payout ratio

Dividend Per share/ Earning Per share

Financial Policy &


Growth-Based Ratios
Column1
Column2
Particulars
Formulae
Sustainable Growth
Rate
External Financial
Needed

ROE*b/(1-ROE*b)
Assets/ Sales* Sales - (Spontaneous
Liabilities/sales)* Sales - PM* Projected
Sales*(1-d)

23%

Column3
Emami
2011

27%

Column4
2010

122%

77%

9.344

4.322

Column5

Column7
Bajaj Corp.
2009
2011

0.89
168
6.40
80.04
0.41

2.3954
73.8900
110.0800

Column8
2010
1.4615
53.6200
28.5700

Column5

Column6
Column7
Bajaj Corp.
2009
2011
2010

3.09
6.60
1.31
0.89

2009
12%
14%
57%

1.0001

1.0021

0.0000

0.0000

0.0000

0.0000

0.0000

0.0000

Bajaj Corp.
2011
23.45%
29.33%
56.35%

Column5

Column6
Bajaj Corp.
2009
2011
20%
34%

18%
34%
20%

2010
28.49%
34.52%
60.36%

Column7
2010

22.35%

300.63%

22.35%

300.63%

229.63%

373.24%

Column5

Column6
Bajaj Corp.
2009
2011

7.37
1.29

Column7
2010

14.7747

56.5962

7.7432

11.3873

0.7829

5.6142

1.28
2.09

2009
5.48
14.08
14.08

Bajaj Corp.
2011
9.5000
28.5094

33.5654

28.5094

33.5654

Column5

Column6
Bajaj Corp.
2009
2011

5%
7.24
2.08
49.10
39%

2010

0.0000

0.7846

0.0000

127.571288
0.3332

Column6
Bajaj Corp.
2009
2011

1.374

Column7

3.5108

Column5

26%

2010
0.0000

17.5102%

15.433305

111.6484
0.0000

Column7
2010
-149.8419%

40.900715

Mar-11

Mar-10

Mar-09

Mar-08

Total Share Capital

1,513

1,513

1,313

1,243

Equity Share Capital

1,513

1,513

1,313

1,243

66,789

60,424

28,604

27,657

1,370

696

596

213

69,672

62,633

30,512

29,113

17,563.66

14,923.35

37,306

3,519

5,374

10,982

7,513

306

Total Debt

22,937

25,906

44,819

3,826

Total Liabilities

92,609

88,538

75,331

32,939

Gross Block

79,696

76,346

70,644

10,573

Less: Accum. Depreciation

31,452

20,262

9,387

2,791

Net Block

48,244

56,085

61,258

7,782

Sources Of Funds

Reserves
Deferred Tax Liability
Networth
Secured Loans
Unsecured Loans

Application Of Funds

Capital Work in Progress

648

621

3,670

1,347

Investments
Foreign Currency
Monetary Item
Translation Difference

708

6,208.46

3,989.36

10,296.53

-141.16

313.76

0.00

12,191

7,861

7,320

4,010

Inventories
Sundry Debtors

9,128

7,273

5,075

3,499

Cash and Bank Balance

20,415

15,980

1,077

280

Total Current Assets

41,734

31,114

13,472

7,790

Loans and Advances

16,645

10,026

7,688

15,268

Total CA, Loans & Advances

58,379

41,141

21,160

23,057

Current Liabilities & Provisions

15,370

15,375

15,059

9,544

Total CL & Provisions

15,370

15,375

15,059

9,544

Net Current Assets

43,009

25,766

6,101

13,513

Total Assets

92,609

88,538

75,331

32,939

122,115.39

100,685.42

73,959.87

58,205.48

Income
Sales Turnover
Excise Duty

1,725

924

122,115.39

100,685.42

72,234.91

57,281.53

Other Income

1,854

802

736

339

Total Income

123,969.56

101,487.21

72,970.85

57,620.43

51,132

38,204

30,877

23,747

Net Sales

Expenditure
Cost of Goods Sold

Manufacturing, Administrative & Selling Expenses


45,875

38,377

29,130

24,006

Other expenses

Total Expenses

97,007.09

76,581.89

60,006.86

47,752.61

PBDIT
Interest
PBDT
Depreciation
Transfer from GR

26,962.47

24,905.32

12,963.99

9,867.82

-1,181

2,095

1,964

-1,353

28,143.22

22,810.80

11,000.41

11,220.45

11,603

11,749

1,789

728

10,209.25

10,209.25

964.54

VRS Compensation

0.00

725.98

Share Issue Expenses

0.00

486.82

26,749.47

20,057.92

10,175.56

10,492.88

26,749.47

20,057.92

10,175.56

10,492.88

4,000

3,518

1,424

1,218

22,749.22

16,540.27

8,751.50

9,274.88

Profit Before Tax


Extra-ordinary items
PBT (Post Extra-ord Items)
Tax
Reported Net Profit
Balance Brought Forward
Available for Appropriation
Transfer to GR
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Balance Carried Forward

1,382.69

2,462.48

1,647.58

1,189.69

24,131.91

19,002.75

10,399.08

10,464.57

15,209

12,309

3,953

5,545

5,296

4,539

3,405

2,797

880

771

579

475

2,747

1,383

Per share data (annualised)


Shares in issue

1,513

757

621

621

Earning Per Share (Rs)

15.03

21.86

14.08

14.92

12

11

Market Price Per Share

400

310

102

145

Reserves and Surplus


General Reserve
Profit and Loss Account

30,000
3,501

25,000
2,015

22,900
2,462

22,500
1,648

33,501

27,014

25,362

24,148

Free Reserves

33,501

27,014

25,362

24,148

Net Worth

35,015

28,528

26,676

25,390

Operating Profit

26,289

22,009

10,264

10,882

Gross Profit

70,983

62,481

41,358

33,535

Long Term Loans


Short Term Loans

9,832
13,106

13,629
-2,646

34,983
9,836

3,806
0

Equity Dividend (%)

Spontanious Liabilities
Sundry Creditors
8,083
Advances from customers
0
Billing in excess of contract revenue
0
8,083

8,441
0
8,441

9,857
0
0
9,857

4,865
0
0
4,865

Column1

Column2

Column3
2010-11

SOURCES
Share Capital
Reserve and Surplus

1
1

1475
36158.53

Secured Long Term Loans


Secured Short Term Loans
Unsecured Long Term Loans
Unscured Short Term Loans
Bank Overdraft

1
1
1
1
1

0
0
0
0
0

Deferred Tax liability

4.84

Total

37638.37

Application Of Funds
Fixed Asset
Gross Block
Accumulated depreciation and amortization
Net Block
Capital WIP

2
1
1
1

2472.9
304.26
2168.64
28.96

Total FA

2197.6

L Investments
S Investments

1
1

33006.25
0

Current Assets Loans and Advances


Inventories
Sundry debtors
Cash and Bank Balances
Loans and Advances

1
1
1
1

1442.58
603.45
8134.35
428.23

Total CA

10608.61

Current Liabilities and Provisions


Sundry Creditors
Current Liabilities
Provisions
Total Curent Liablities

1
1
1
3

3564.61
864.16
3752.23
8181

Net Current Assets


Misc Expenditure

1
1

2427.61
6.91

Net Assets

37638.37

Income Statement

2010-11

Income
Sales,gross
Excise duty on sales
Sales,net
License fees,net
Service income
other income

10
1
9
1
1
1

35867.26
0
35867.26
0
0
1778.24

Total Income

12

37645.5

Raw materials purchased


Packing Material purchased
Purchase of traded goods
Material Cost
Salaries & Wages
Selling & Distributive Expenses
Administrative Expenses
operating and other expenses
R&D expenses
Provision for decline in value of long term investments
Interest & Bank charges
Depreciation and amortization

1
1
1
1
1
1
1
1
1

7203.38
6212.5
2411.75
15657.69
1625.97
7329.9
437.42
0
0
0
10.56
179.4

Total Expenditure
Profit before tax and exceptional items
Exceptional Items
PBT

9
3
1
2

25240.94
12404.56
1896.25
10508.31

Income tax expense

2098.03

PAT

8410.28

Balance in profit and loss account brought forward

216.21

Adjustments for appropriations

Amount available for appropriations

8626.49

Expenditure

Appropriations

Bonus Shares Issued


Interim Dividend
Proposed dividend on equity shares
tax on proposed dividend
Dividend of previous year including tax
Debenture redemption reserve
issuance of bonus debentures as per scheme
Dividend distribution tax on distrubution as per scheme
Transferred to general reserve
Balance carried forward

0
0
2802.5
465.46
0
0
0
0
842
4516.53

Column4
2009-10

Column5
2008-09

1250
1541.21

500
4663

0
0
0
0
0

0
0
0
0
0

5.73

-21

2796.94

5142

1963.68
127.5
1836.18
0

500
43
457
180

1836.18

637

210.09
0

0
0

989.2
290.05
1675.16
246.29

774
32
5104
888

3200.7

6798

1452.95
737.02
490.24
2680.21

1308
710
280
2298

520.49
230.23

4500
5

2796.99

5142

2009-10

2008-09

29457.76
0
29457.76
0
0
513.39

21868
0
21868
0
0
177

29971.15

22045

4661.43
4977.3
2103.57
11678.37
1384.28
6352.6
302.76
0
0
0
13.14
84.42

10990
1130
4331
256
0
0
0
6
42

19815.57
10155.58
0
10155.58

16755
5290
0
5290

1764.24

591

8391.34

4699

4663.41

13054.75

4699

750
9200
0
1563.54
0
0
0
0
1325
10166.21

25
0
0
0
0
0
0
4674

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