Reliance communications ltd

Saturday, September 17, 2011

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COMPANY FINALYTICS

Reliance Communications Ltd

Exclusive Financial Analysis of Indian Companies

Prepared and Edited By‐

Tanay Roy, CFAPeu Karak, MBA

Disclaimer

The information, opinions, estimates and forecasts contained in this document have been arrived at or obtained from public sources believed to be reliable and in good faith which has not been independently verified and no warranty, express or implied, is made as to their accuracy,

completeness or correctness.

For more information about this sample and our other services, please write to [email protected]

Page

Summary 3Latest Result 3Valuation Matrix 3ROE Analysis 3

Income Statement 4

Balance Sheet 5

Cashflow Statement 6

Quarterly Result 6

Growth Analysis 7

Comparative Analysis 8Income Statement 8Balance Sheet 8

Index Analysis 9Income Statement 9Balance Sheet 9

Ratio Analysis 10Annual 10Quarterly 11

TTM Analysis 11

Technical Analysis 12

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1. Expertise in Portfolio Management, Product optimization, Product performance Analysis, Financial Reporting/ Planning, Cash Flow Analysis, Ratio Analysis, Budgeting, Forecasting, Mergers & Acquisition and knowledge of GAAP/ IFRS2. Possess Strong Financial Modeling skills including DCF, LBO and other techniques. Possess ability to research all asset classes in a broad range of industries and geographies.3. Strong equity research, finance, accounting and advisory and assurance experience4. Expertise in Technical analysis, fundamental analysis, developing trading systems.5. Conduct in‐depth financial analysis of company financials.6. Write analytical or trend based reports on companies, sectors or markets.7. Expert level application in Bloomberg, Thomson Banker, Factset, Datastream, StockVal, Merger markets, Reuters Knowledge, Haver Analytics, Factiva, PackHedge,8. Building Excel/VBA based customized tools to perform detailed analysis.

CONTENT

About Tanay & Peu

Description

Contact Us: [email protected]

Page 2

Telecommunications ‐ Service

ADA Ent. Group

Latest ResultsMarch ' 11 Growth June ' 11 Growth June ' 11 Growth 5

20640.27EBDITA 906.14 (69.71) 311.00 (8.00) 1090.77 20.38Reported Net Profit (757.99) (258.27) (272.00) 42.91 (545.91) (28.61) 84.9

Adjusted PAT (2127.59) (97.19) (272.00) 42.91 NA NA 17358.78

March ' 07 March ' 08 March ' 09 March ' 10 March ' 11

0.71 0.74 1.70 2.12 0.36

0.69 0.60 0.47 (5.21) 1.00

0.88 0.80 0.71 0.15 1.09

0.30 0.29 0.26 0.11 (0.16)

0.28 0.26 0.16 0.16 0.13

2.23 2.27 1.78 1.67 1.87

12% 10% 9% 1% ‐2%

11% 8% 2% ‐2% ‐4%

17358.78

Dividend Yield

Yearly Quarterly TTM

Industry

Price

Market Cap(Rs. In Cr)

Latest Results

Summary

Business Group

Face Value

Number of Equity shares

At a Glance

NA

NA

NA

NA

NA

0.01

0.36

Reported ROE

Adjusted ROE

ROE Analysis

Particulars

Reported PAT / PBT

Adjusted PAT / PBT

PBT / PBIT

PBIT / Sales

Sales / Total Assets

Total Assets / Net Worth

Earning Yield

Market Cap(Rs. In Cr)

Price/ Book Value

March ' 11 March ' 11TTM Ratio

Valuation Matrix

Particulars

Reported P/E

Price/Sales Per Share

NA

1.44 1.44

Annual

Promoter

68%

MF1%

BFI8%

FII8%

Other3%

General Public12%

Share Holding

‐5%

0%

5%

10%

15%

March ' 07

March ' 08

March ' 09

March ' 10

March ' 11

ROE

Reported ROE Adjusted ROE

(0.50)

0.00

0.50

1.00

1.50

2.00

2.50

‐4%

‐2%

0%

2%

4%

6%

8%

10%

12%

14%


ROE Factors

Reported ROE Reported PAT / PBT PBT / PBIT

PBIT / Sales Sales / Total Assets Total Assets / Net Worth

Page 3


12756.30 14792.05 15086.66 13554.60 12129.77

16.48 15.15 29.95 50.39 64.92

3358.34 4144.21 5975.57 7994.76 9262.74

684.40 858.65 754.56 672.39 608.07

1399.88 1067.76 773.21 662.96 0.00

1784.19 2532.99 2323.44 1980.67 1772.15

0.00 0.00 0.00 0.00 0.00

7243.29 8618.76 9856.73 11361.17 11707.88

5513.01 6173.29 5229.93 2193.43 421.89

169.61 28.68 675.12 797.98 484.25

5682.62 6201.97 5905.05 2991.41 906.14

1836.12 1843.66 1933.51 1511.24 2855.620.00 0.00 0.00 0.00 0.00

3846.50 4358.31 3971.54 1480.17 (1949.48)

456.55 870.05 1153.24 1253.84 178.11

3389.95 3488.26 2818.30 226.33 (2127.59)

1043.38 1393.66 1488.64 1404.59 0.00

2346.57 2094.60 1329.66 (1178.26) (2127.59)

62.28 491.85 3473.01 1657.19 0.00

0.00 0.00 0.00 0.00 1369.60

2408.85 2586.45 4802.67 478.93 (757.99)

102.23 154.80 165.12 175.44 103.200.00 0.00 0.00 0.00 0.0017.37 26.31 28.06 29.14 17.14

2289.25 2405.34 4609.49 274.35 (878.33)Retained Earnings

Other Non Cash adjustments

Reported Net Profit

Equity Dividend Preference Dividend Dividend Tax

Other Income

EBDITA

Interest

DepreciationOther Write offs

EBIT

EBT

Income Tax

Adjusted PAT

Material Consumed

Manufacturing Expenses

Personnel Expenses

Selling Expenses

Adminstrative Expenses

Income Statement

Particulars (Rs. In Cr)

Net Sales

Operating Expenses

Expenses Capitalised

Non Recurring Items

Total Operating Expenses

Operating Profit

(3000.00)

(2000.00)

(1000.00)

0.00

1000.00

2000.00

3000.00

4000.00

5000.00

6000.00

7000.00


Profit Levels

Operating Profit EBDITA EBIT

EBT Adjusted PAT

0.00

2000.00

4000.00

6000.00

8000.00

10000.00

12000.00

14000.00

16000.00

March ' 07

March ' 08

March ' 09

March ' 10

March ' 11

Operating Income

Net Sales Operating Profit EBDITA

69%

17%

0%1%0%‐13%

Total Income Break‐up

Total Operating Expenses Depreciation

Other Write offs Interest

Income Tax Adjusted PAT

Page 4


1022.31 1032.01 1032.01 1032.01 1032.010.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00

19503.23 23808.02 50658.31 49466.88 47112.4720525.54 24840.03 51690.32 50498.89 48144.48

5113.57 950.00 3000.00 3000.00 15226.029454.27 19336.43 27903.61 21478.28 16226.7214567.84 20286.43 30903.61 24478.28 31452.74

35093.38 45126.46 82593.93 74977.17 79597.22

20625.82 21576.32 37941.15 39838.17 40904.170.00 0.00 0.00 0.00 0.00

2527.37 4688.69 6533.38 9225.69 12063.2718098.45 16887.63 31407.77 30612.48 28840.90 2185.60 7117.56 3643.86 1683.52 9907.66

5434.43 13844.14 31364.75 31898.60 32102.13

20107.04 18515.29 25543.01 20005.94 19153.82

10732.14 11238.16 9365.46 9223.37 10407.299374.90 7277.13 16177.55 10782.57 8746.53

0.00 0.00 0.00 0.00 0.0035093.38 45126.46 82593.93 74977.17 79597.22

Note :

5434.43 13844.14 31364.63 31898.31 32101.85

0.00 0.00 0.12 0.29 0.283781.30 4392.73 6555.82 3274.83 1958.61

20446.15 20640.27 20640.27 20640.27 20640.27


Capital Work‐in‐progress

Investments

Secured Loans

Total

SOURCES OF FUNDS Owner's Fund

Equity Share Capital Share Application Money Preference Share Capital Reserves & Surplus

Total Owners fund

Loan Funds

Unsecured Loans

Net Block

Fixed Assets USES OF FUNDS

Balance Sheet

Less : Accumulated Depreciation

Net Current Assets

Less : Current Liabilities & Provisions

Market Value of Quoted

Investments

Gross Block Less : Revaluation Reserve

Total Loan fund

Number of Equity shares outstanding (in Lacs)

Current Assets, Loans & Advances

Total Net Current Assets

Total

Miscellaneous expenses not written

Book Value of Unquoted

Investments

Contingent liabilities

0.00

10000.00

20000.00

30000.00

40000.00

50000.00

60000.00

March ' 07

March ' 08

March ' 09

March ' 10

March ' 11

Capital Structure

Total Owners fund Total Loan fund

Net Block 36%


13%

Investments 40%


11%

Application of capital

Total Owners fund60%

Total Loan fund40%

Sources of Capital

Page 5

December ' 05 March ' 07 March ' 08 March ' 09 March ' 10

8.86 4815.07 2604.09 2420.85 619.47

(10.98) 1884.87 2982.80 10469.12 1043.88

0.00 (7650.54) (11263.87) (4883.86) 4339.32

11.02 6405.25 6234.75 4645.92 (5868.66)

0.04 639.58 (2046.32) 10231.18 (485.46)

0.01 205.57 2240.40 (10162.73) 567.64

0.05 845.15 192.66 68.45 82.18

June ' 10September '

10 December ' 10 March ' 11 June ' 11

3,177.57 2,893.83 2,976.84 3,081.53 2,835.000.00 0.00 0.00 0.00 0.00

3,177.57 2,893.83 2,976.84 3,081.53 2,835.00

8.34 349.07 118.74 8.10 19.00

3,185.91 3,242.90 3,095.58 3,089.63 2,854.00

0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00

167.26 124.34 159.65 156.83 144.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00

2,892.28 2,312.95 2,966.64 2,927.93 2,399.00

3,059.54 2,437.29 3,126.29 3,084.76 2,543.00

126.37 805.61 (30.71) 4.87 311.00

0.00 0.00 0.00 0.00 0.00406.03 421.52 395.93 370.78 372.00

(279.66) 384.09 (426.64) (365.91) (61.00)

211.15 (81.89) (61.70) 110.56 211.00

(490.81) 465.98 (364.94) (476.47) (272.00)

0.00 (101.52) 0.00 0.00 0.00

(490.81) 567.50 (364.94) (476.47) (272.00)

0.00 6.73 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00

Depreciation

EBIT

Interest

Cash Flow Statement


Total Income

Stock Adjustment

Power And Fuel

Profit Before Tax

Net Cash Used In Investing Activity

NetCash Used in Fin. Activity

Net CashFlow‐Operating Activity

Net Inc/Dec In Cash And Equivlnt

Cash And Equivalnt Begin of Year Cash And Equivalnt End Of Year


Quarterly Result

Sales Less: Excise

Net Sales

Other Income

Raw Material

Employee Expenses Admin And Selling Expenses Research And Devlopment Expe

Total Expenses

Expenses Capitalised Other Expeses

EBT

Taxation

Net Profit / Loss

Extra Ordinary Item Prior Year Adjustments

EBDITA

Provisions Made

(10.98)

1884.87 2982.80

10469.12

1043.88 0.00

(7650.54) (11263.87)

(4883.86)

4339.32 11.02 6405.25 6234.75

4645.92

(5868.66)

Net Cash Flow

Net CashFlow‐Operating Activity

Net Cash Used In Investing Activity

NetCash Used in Fin. Activity

Profit Levels

EBDITA EBIT

EBT Net Profit / Loss

Page 6

March ' 08 March ' 09 March ' 10 March ' 11Average Growth 5 year CAGR

15.96 1.99 (10.16) (10.51) (5.26) (1.00)

0.00 0.00

(8.07) 97.69 68.25 28.84 50.74 31.55

23.40 44.19 33.79 15.86 27.66 22.50

25.46 (12.12) (10.89) (9.57) (6.97) (2.34)

(23.72) (27.59) (14.26) (100.00) (52.17) (100.00)

41.97 (8.27) (14.75) (10.53) (6.09) (0.14)

0.00 0.00 0.00 0.00 0.00 0.00

18.99 14.36 15.26 3.05 10.57 10.08

11.98 (15.28) (58.06) (80.77) (51.58) (40.19)

(83.09) 2253.97 18.20 (39.32) 432.22 23.35

9.14 (4.79) (49.34) (69.71) (42.73) (30.73)

0.41 4.87 (21.84) 88.96 30.05 9.230.00 0.00 0.00 0.00 0.00 0.00

13.31 (8.87) (62.73) (231.71) (111.95) (187.29)

90.57 32.55 8.72 (85.79) (16.13) (17.16)

2.90 (19.21) (91.97) (1040.04) (447.16) (191.10)

33.57 6.82 (5.65) (100.00) (36.97) (100.00)

(10.74) (36.52) (188.61) (80.57) (97.19) (198.06)

689.74 606.11 (52.28) (100.00) 134.51 (100.00)

0.00 0.00 0.00 0.00 0.00 0.00

7.37 85.69 (90.03) (258.27) (112.44) (179.35)

51.42 6.67 6.25 (41.18) (8.12) 0.190.00 0.00 0.00 0.00 0.00 0.0051.47 6.65 3.85 (41.18) (8.84) (0.27)5.07 91.64 (94.05) (420.15) (177.44) (182.56)

Dividend Tax Retained Earnings

EBIT

Adjusted PAT

Reported Net Profit

Equity Dividend Preference Dividend

Non Recurring Items


Interest

EBT

Income Tax

EBDITA

Depreciation

Other Income

Other Write offs

Selling Expenses


Operating Profit

Net Sales

Operating Expenses

Personnel Expenses



Material Consumed


Growth Analysis

Particulars (%)

(1200.00)

(1000.00)

(800.00)

(600.00)

(400.00)

(200.00)

0.00

200.00

March ' 08 March ' 09 March ' 10 March ' 11

Growth Factors

Net Sales Total Operating Expenses

EBDITA EBT

Adjusted PAT (250.00)

(200.00)

(150.00)

(100.00)

(50.00)

0.00

50.00

5 Year CAGR

Page 7


100.00 100.00 100.00 100.00 100.00

0.13 0.10 0.20 0.37 0.54

26.33 28.02 39.61 58.98 76.36

5.37 5.80 5.00 4.96 5.01

10.97 7.22 5.13 4.89 0.00

13.99 17.12 15.40 14.61 14.61

0.00 0.00 0.00 0.00 0.00

56.78 58.27 65.33 83.82 96.52

43.22 41.73 34.67 16.18 3.48

1.33 0.19 4.47 5.89 3.99

44.55 41.93 39.14 22.07 7.47

14.39 12.46 12.82 11.15 23.540.00 0.00 0.00 0.00 0.00

30.15 29.46 26.32 10.92 (16.07)

3.58 5.88 7.64 9.25 1.47

26.57 23.58 18.68 1.67 (17.54)

8.18 9.42 9.87 10.36 0.00

18.40 14.16 8.81 (8.69) (17.54)

0.49 3.33 23.02 12.23 0.00

0.00 0.00 0.00 0.00 11.29

18.88 17.49 31.83 3.53 (6.25)


2.91 2.29 1.25 1.38 1.300.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.0055.58 52.76 61.33 65.98 59.1958.49 55.05 62.58 67.35 60.49

14.57 2.11 3.63 4.00 19.1326.94 42.85 33.78 28.65 20.3941.51 44.95 37.42 32.65 39.51

100.00 100.00 100.00 100.00 100.00

58.77 47.81 45.94 53.13 51.390.00 0.00 0.00 0.00 0.00

7.20 10.39 7.91 12.30 15.1651.57 37.42 38.03 40.83 36.236.23 15.77 4.41 2.25 12.45

15.49 30.68 37.97 42.54 40.33

57.30 41.03 30.93 26.68 24.06

30.58 24.90 11.34 12.30 13.0726.71 16.13 19.59 14.38 10.99

0.00 0.00 0.00 0.00 0.00100.00 100.00 100.00 100.00 100.00Total

Net Sales

Material Consumed


Personnel Expenses

Selling Expenses


Other Write offs

SOURCES OF FUNDS

Less : Accumulated Depreciation

Net Block Capital Work‐in‐progress

Investments

Net Current Assets Current Assets, Loans & Less : Current Liabilities & Provisions

Total Net Current Assets Miscellaneous expenses not

written

Secured Loans Unsecured Loans

Total Loan fund

Total

USES OF FUNDS Fixed Assets


Income Statement

Balance Sheet

Equity Share Capital Share Application Money Preference Share Capital Reserves & Surplus

Total Owners fund

EBT

Income Tax

Adjusted PAT

Non Recurring Items


Reported Net Profit




Operating Profit

Other Income

EBDITA

Depreciation

EBIT

Interest

Comparative Analysis


March ' 07

March ' 08

March ' 09

March ' 10

March ' 11

Comparative Net Sales

Total Operating ExpensesOther IncomeDepreciationOther Write offsInterest

1.30 0.00 0.00

59.19

19.13 20.39

Comparative Analysis‐Source of Fund

Page 8


100.00 115.96 118.27 106.26 95.09

100.00 91.93 181.74 305.76 393.93

100.00 123.40 177.93 238.06 275.81

100.00 125.46 110.25 98.25 88.85

100.00 76.28 55.23 47.36 0.00

100.00 141.97 130.22 111.01 99.33

0.00 0.00 0.00 0.00 0.00

100.00 118.99 136.08 156.85 161.64

100.00 111.98 94.87 39.79 7.65

100.00 16.91 398.04 470.48 285.51

100.00 109.14 103.91 52.64 15.95

100.00 100.41 105.30 82.31 155.520.00 0.00 0.00 0.00 0.00

100.00 113.31 103.25 38.48 (50.68)

100.00 190.57 252.60 274.63 39.01

100.00 102.90 83.14 6.68 (62.76)

100.00 133.57 142.67 134.62 0.00

100.00 89.26 56.66 (50.21) (90.67)

100.00 789.74 5576.45 2660.87 0.00

0.00 0.00 0.00 0.00 0.00

100.00 107.37 199.38 19.88 (31.47)


100.00 100.95 100.95 100.95 100.950.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00

100.00 122.07 259.74 253.63 241.56100.00 121.02 251.83 246.03 234.56

100.00 18.58 58.67 58.67 297.76100.00 204.53 295.14 227.18 171.63100.00 139.25 212.14 168.03 215.91

100.00 128.59 235.35 213.65 226.82

100.00 104.61 183.95 193.15 198.32

0.00 0.00 0.00 0.00 0.00100.00 185.52 258.51 365.03 477.31100.00 93.31 173.54 169.14 159.36100.00 325.66 166.72 77.03 453.32

100.00 254.75 577.15 586.97 590.72

100.00 92.08 127.04 99.50 95.26

100.00 104.71 87.27 85.94 96.97

100.00 77.62 172.56 115.02 93.30

0.00 0.00 0.00 0.00 0.00100.00 128.59 235.35 213.65 226.82Total


Investments

Net Current Assets Current Assets, Loans & Advances

Less : Current Liabilities & Provisions


Miscellaneous expenses not written

USES OF FUNDS Fixed Assets


Less : Accumulated Net Block

Balance Sheet

SOURCES OF FUNDS

Share Application Money

Reserves & Surplus

Secured Loans

Total

Total Loan fund

Particulars

Equity Share Capital

Interest

EBT

Income Tax




Other Write offs

EBIT

Operating Profit

Other Income

EBDITA

Depreciation

Adjusted PAT

Non Recurring Items


Reported Net Profit

Preference Share Capital

Total Owners fund

Unsecured Loans

Loan Funds

Income StatementParticulars

Net Sales

Operating Expenses

Material Consumed


Personnel Expenses

Selling Expenses

Index Analysis

March ' 07

March ' 08

March ' 09

March ' 10

March ' 11

Profit Index

EBITEBTAdjusted PATReported Net Profit Net Sales

March ' 07

March ' 08

March ' 09

March ' 10

March ' 11

Liability Index

Total Owners fund Total Loan fund

Page 9


11.48 10.15 6.44 (5.71) (10.31)20.46 19.08 15.81 1.61 3.5311.78 12.53 23.27 2.32 (3.67)20.76 21.46 32.64 9.64 10.160.50 0.75 0.80 0.85 0.50

26.96 29.91 25.34 10.63 2.04

100.39 120.35 250.44 244.66 233.26

100.39 120.35 250.44 244.66 233.26

62.39 71.67 73.09 65.67 58.7795.39 109.11 239.16 233.03 0.00

43.21 41.73 34.66 16.18 3.4728.82 29.26 21.84 5.03 (20.06)18.63 17.45 30.47 3.33 (6.00)32.35 26.57 20.70 2.32 5.77

11.43 8.43 2.57 (2.33) (4.41)

11.73 10.41 9.29 0.94 (1.57)

11.16 11.81 5.34 2.12 (2.44)

0.67 0.48 0.43 0.37 0.650.70 0.81 0.59 0.48 0.65

58.48 55.04 62.58 67.35 60.480.69 0.77 0.76 0.62 0.29

1.87 1.65 2.73 2.17 1.841.77 0.95 1.45 1.37 1.841.86 1.63 2.70 2.14 1.810.00 0.00 0.00 41.20 39.63

4.96 7.00 4.02 42.71 0.00

2.81 4.08 2.86 10.27 5.7394.91 91.36 85.48 117.36 0.0097.15 95.41 94.08 38.57 83.48

3.48 5.15 9.47 73.51 43.20

12.45 7.13 5.12 2.39 5.09

10.30 6.09 6.84 2.59 12.78

0.12 0.10 0.19 0.37 0.53

10.97 7.21 5.12 4.89 0.00

13.23 8.88 9.23 6.26 7.68

0.00 0.00 0.00 0.00 0.00

0.53 0.65 0.65 0.69 0.78

0.00 0.00 0.00 0.00 0.00

Ratio Analysis

Particulars(Yearly)

PER SHARE RATIOS

Adjusted Cash EPS (Rs.)

LIQUIDITY RATIOS

Reported EPS (Rs.) Reported Cash EPS (Rs.) Dividend Per Share

Operating Profit Per Share (Rs.)

Book Value (Incl Rev Res) Per Share (Rs.) Net Operating Income Per Share (Rs.) Free Reserves Per Share (Rs.)

Adjusted Cash Margin (%)

Financial Charges Coverage Ratio Fin. Charges Cov.Ratio (Post Tax)

COMPONENT RATIOS

Material Cost Component(% earnings)

Current Ratio Current Ratio (Inc. ST Loans)

PAYOUT RATIOS

Dividend payout Ratio (Net Profit)

Adjusted E P S (Rs.)

Book Value (Excl Rev Res) Per Share (Rs.)

PROFITABILITY RATIOS

Operating Margin (%) Gross Profit Margin (%) Net Profit Margin (%)

Reported Return On Net Worth (%)

Return On long Term Funds (%)

Long Term Debt / Equity

Owners fund as % of total Source

Quick Ratio Inventory Turnover Ratio

Adjusted Return On Net Worth (%)

LEVERAGE RATIOS

Total Debt/Equity

Fixed Assets Turnover Ratio

Selling Cost Component

Exports as percent of Total Sales Import Comp. in Raw Mat. Consumed Long term assets / Total Assets

Bonus Component In Equity Capital (%)

Dividend payout Ratio (Cash Profit)

Earning Retention Ratio Cash Earnings Retention Ratio

COVERAGE RATIOS

Adjusted Cash Flow Time Total Debt

0.00 50.00

100.00 150.00 200.00 250.00 300.00 350.00 400.00

March ' 07

March ' 08

March ' 09

March ' 10

March ' 11

Per Share Ratio

Net Operating Income Per Share (Rs.)

Adjusted E P S (Rs.)

Adjusted Cash EPS (Rs.)

Dividend Per Share

Book Value (Incl Rev Res) Per Share (Rs.)

(20.00)

0.00

20.00

40.00

60.00

80.00

100.00

March ' 07

March ' 08

March ' 09

March ' 10

March ' 11

Profit Margin

Net Profit Margin (%)

Operating Margin (%)

Adjusted Return On Net Worth (%)

Return On long Term Funds (%)

March ' 07

March ' 08

March ' 09

March ' 10

March ' 11

Liquidity Ratio

Current Ratio Quick Ratio

Page 10

June ' 10September '

10 December ' 10 March ' 11 June ' 11

15.40 14.02 14.42 14.93 13.74

0.61 3.90 (0.15) 0.02 1.51(2.38) 2.75 (1.77) (2.31) (1.32)

3.71 (0.10) (5.02) 15.77 10.29(2.66) (3.42) 1.00 27.36 3.50(15.40) (15.42) (11.78) 17.70 (9.53)

March ' 11 % of Sales June ' 11 % of Sales Growth(%)

12129.77 100.00 11787.20 100.00 (2.82)0.00 0.00 0.00 0.00 NA

12129.77 100.00 11787.20 100.00 (2.82)

Other Income 484.25 3.99 494.91 4.20 2.20

12614.02 103.99 12282.11 104.20 (2.63)

0.00 0.00 0.00 0.00 NA

0.00 0.00 0.00 0.00 NA0.00 0.00 0.00 0.00 NA

608.08 5.01 584.82 4.96 (3.83)0.00 0.00 0.00 0.00 NA0.00 0.00 0.00 0.00 NA0.00 0.00 0.00 0.00 NA

11099.80 91.51 10606.52 89.98 (4.44)

11707.88 96.52 11191.34 94.94 (4.41)

906.14 7.47 1090.77 9.25 20.38

1594.26 13.14 1560.23 13.24 (2.13)

(688.12) (5.67) (469.46) (3.98) (31.78)

178.12 1.47 177.97 1.51 (0.08)

(866.24) (7.14) (647.43) (5.49) (25.26)

(101.52) (0.84) (101.52) (0.86) 0.00

(764.72) (6.30) (545.91) (4.63) (28.61)

6.73 0.06 6.73 0.06 0.000.00 0.00 0.00 0.00 NA

TTM EPS ‐3.71 ‐2.64 ‐0.14TTM SPS 58.77 57.11 ‐0.01

EBT

Taxation

Net Profit / Loss

Extra Ordinary Item Prior Year Adjustments

Interest

Operating Profit Per Share(Rs.)

TTM Analysis


Sales

Net Sales

Research And Devlopment Expe

Other Expeses

EBDITA

Provisions Made

Admin And Selling Expenses


Total Expenses

Depreciation

EBIT

Less: Excise

Total Income

Stock Adjustment

Raw Material Power And Fuel Employee Expenses

GPM(%) NPM(%)

PROFITABILITY RATIOS

OPM(%)

Ratio Analysis

Particulars(Quarterly)

PER SHARE RATIOS

Operating Income Per Share(Rs.)

Adjusted EPS(Rs.)

Quarterly Profit Margin

OPM(%) GPM(%) NPM(%)

(2.82) (4.41)

20.38

(31.78)

(25.26)(28.61)

TTM Growth (%)

March ' 11 June ' 11

TTM EPS & SPS(%)

Page 11

Price 84.90 AS On: 15/09/2011

EMA(13) 84.11 ADX 17

EMA(26) 87.37 DX 9

EMA(50) 92.74 +DI 19

EMA(200) 135.53 ‐DI 23

RSI(14) 53.74 %K(Fast) 75.44

MACD ‐3.26 %K(Slow) 63.55

William(%R) ‐24.56 %d(Slow) 58.38

Technical Analysis

Technical Indicators

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24‐Apr 7‐Jul

Price Chart

Volume Close EMA(200) EMA(50)

‐8.00‐6.00‐4.00‐2.000.002.00

MACD Signal line

020406080100

RSI(14)

Page 12

Economy & Finance

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