FINANCE - BALANCE SHEET - Ashok Leyland (Curr: Rs in Cr.)

COMPANY/FINANCE/BALANCE SHEET/31/Ashok Leyland

201003 200903 200803 200703 200603

SOURCES OF FUNDS :

Share Capital 133.03 133.03 133.03 132.39 122.16

Reserves Total 3535.7 3340.9 2016 1762.2 1290.3

Equity Share Warrants 0 0 0 0 0

Equity Application Money 0 0 0 0 0

Total Shareholders Funds 3668.8 3473.9 2149 1894.6 1412.5

Secured Loans 711.57 304.41 190.24 360.22 184.69

Unsecured Loans 1568.9 1653.7 697.26 280.18 507.24

Total Debt 2280.4 1958.1 887.5 640.4 691.93

Total Liabilities 5949.2 5432 3036.5 2535 2104.4

APPLICATION OF FUNDS :

Gross Block 6018.6 4939 2942.4 2620.2 2138.5

Less : Accumulated Depreciation1769.1 1539.8 1416.9 1313.2 1195.2

Less:Impairment of Assets 0 0 0 0 0

Net Block 4249.6 3399.1 1525.6 1307 943.27

Lease Adjustment 0 0 0 0 0

Capital Work in Progress 561.47 998.29 529.24 237.49 141.42

Producing Properties 0 0 0 0 0

Investments 326.15 263.56 609.9 221.09 368.18

Current Assets, Loans & Advances

Inventories 1638.2 1330 1223.9 1070.3 902.56

Sundry Debtors 1022.1 957.97 375.84 522.88 424.34

Cash and Bank 518.92 88.08 451.37 434.94 602.87

Loans and Advances 972.91 789.54 824.14 669.57 302.64

Total Current Assets 4152.1 3165.6 2875.3 2697.7 2232.4

Less : Current Liabilities and Provisions

Current Liabilities 2592.1 1872.7 1926.7 1651.6 1146.9

Provisions 368.69 268.08 345.23 104.23 261.63

Total Current Liabilities 2960.8 2140.8 2271.9 1755.9 1408.5

Net Current Assets 1191.4 1024.8 603.32 941.86 823.89

Miscellaneous Expenses not written off5.17 9.69 22.29 24.42 7.31

Deferred Tax Assets 26.08 74.99 15.96 17.42 7.61

Deferred Tax Liability 410.62 338.43 269.78 214.35 187.3

Net Deferred Tax -384.5 -263.4 -253.8 -196.9 -179.7

Total Assets 5949.2 5432 3036.5 2535 2104.4

Contingent Liabilities 312.28 418.63 1100.9 801.33 713.6

FINANCE - PROFIT AND LOSS - Ashok Leyland (Curr: Rs in Cr.)

201003 (12)200903 (12)200803 (12)200703 (12)200603 (12)

INCOME :

Sales Turnover 8035.1 6784 9141.8 8475.4 6170.4

Excise Duty 627.89 685.57 1206.3 1155.1 840.6

Net Sales 7407.2 6098.4 7935.5 7320.4 5329.8

Other Income 95.49 91.23 84.18 111.56 87.34

Stock Adjustments 251.85 1.04 97.48 48.98 300.6

Total Income 7754.6 6190.7 8117.1 7480.9 5717.8

EXPENDITURE :

Raw Materials 5463.5 4481.1 5861.1 5493.8 4133.6

Power & Fuel Cost 44.47 38.42 44.89 45.43 41.41

Employee Cost 667.26 563.08 613.97 478.67 402.49

Other Manufacturing Expenses90.35 93.49 115.69 92.74 79.61

Selling and Administration Expenses642.58 485.08 574.58 572.16 432.81

Miscellaneous Expenses 10.94 -9.44 15.77 14.34 9.26

Less: Pre-operative Expenses Capitalised15.25 8.2 0.67 0.13 0.41

Total Expenditure 6903.8 5643.5 7225.3 6697 5098.8

Operating Profit 850.73 547.18 891.82 783.92 618.96

Interest 101.85 160.32 76.31 28.84 40.65

Gross Profit 748.88 386.86 815.51 755.08 578.31

Depreciation 204.11 178.41 177.36 150.57 126.01

Profit Before Tax 544.77 208.45 638.15 604.51 452.3

Tax 0 0 101.4 135.05 113.05

Fringe Benefit tax 0 6 7 5.15 4.7

Deferred Tax 121.1 12.45 60.44 23.02 7.23

Reported Net Profit 423.67 190 469.31 441.29 327.32

Extraordinary Items 40.06 11.21 18.55 15.52 24.85

Adjusted Net Profit 383.61 178.79 450.76 425.77 302.47

Adjst. below Net Profit 0 0.25 0 2.96 0

P & L Balance brought forward482.3 502.27 361.69 230.37 178.41

Statutory Appropriations 0 0 0 0 0

Appropriations 328.52 210.22 328.73 312.93 275.36

P & L Balance carried down 577.45 482.3 502.27 361.69 230.37

Dividend 199.55 133.03 199.77 198.58 159.79

Preference Dividend 0 0 0 0 0

Equity Dividend % 150 100 150 150 120

Earnings Per Share-Unit Curr 2.94 1.26 3.27 3.12 2.5

Earnings Per Share(Adj)-Unit Curr2.94 1.26 3.27 3.12 2.5

Book Value-Unit Curr 17.56 15.85 15.99 14.14 11.37

FINANCE - CASH FLOW - Ashok Leyland (Curr: Rs in Cr.)

201003 200903 200803 200703 200603

Cash Flow Summary

Cash and Cash Equivalents at Beginning of the year85.15 815.73 195.2 708.29 919.49

Net Cash from Operating Activities1090.2 -525.6 1065.7 499.95 322.02

Net Cash Used in Investing Activities-783.2 -664.2 -809.7 -722.2 -133.6

Net Cash Used in Financing Activities123.31 459.18 364.52 -290.8 -257.6

Net Inc/(Dec) in Cash and Cash Equivalent430.31 -730.6 620.53 -513.1 -69.17

Cash and Cash Equivalents at End of the year515.46 85.15 815.73 195.2 850.32

RATIOS - KEY FINANCIAL RATIOS - Ashok Leyland

201003 200903 200803 200703 200603

Key Ratios

Debt-Equity Ratio 0.95 0.67 0.38 0.41 0.62

Long Term Debt-Equity Ratio 0.95 0.67 0.35 0.36 0.62

Current Ratio 1.27 1.22 1.2 1.34 1.5

Turnover Ratios

Fixed Assets 1.95 2.09 3.31 3.6 3.02

Inventory 5.41 5.31 7.97 8.59 8.39

Debtors 8.12 10.17 20.34 17.9 13.97

Interest Cover Ratio 6.35 2.3 9.36 21.96 12.13

PBIDTM (%) 10.59 8.07 9.76 9.25 10.03

PBITM (%) 8.05 5.44 7.82 7.47 7.99

PBDTM (%) 9.32 5.7 8.92 8.91 9.37

CPM (%) 7.81 5.43 7.07 6.98 7.35

APATM (%) 5.27 2.8 5.13 5.21 5.3

ROCE (%) 14.92 10.46 26.08 27.77 24.18

RONW (%) 19.06 8.97 23.48 27.07 25.86

FINANCE - BALANCE SHEET - Tata Steel (Curr: Rs in Cr.)

COMPANY/FINANCE/BALANCE SHEET/566/Tata Steel

201003 200903 200803 200703 200603

SOURCES OF FUNDS :

Share Capital 887.41 6203.5 6203.3 580.67 553.67

Reserves Total 36074 23973 21097 13368 9201.6

Equity Share Warrants 0 0 0 147.06 0

Equity Application Money 0.14 0.24 5.65 0.01 0

Total Shareholders Funds 36962 30177 27306 14096 9755.3

Secured Loans 2259.3 3913.1 3520.6 3758.9 2191.7

Unsecured Loans 22980 23033 14501 5886.4 324.41

Total Debt 25239 26946 18022 9645.3 2516.2

Total Liabilities 62201 57123 45328 23741 12271

APPLICATION OF FUNDS :

Gross Block 22306 20057 16480 16029 15407

Less : Accumulated Depreciation10038 8962 8123 7386 6605.7

Less:Impairment of Assets 106.07 100.47 100.47 100.41 94.19

Net Block 12162 10995 8256.1 8543.1 8707.3

Lease Adjustment 0 0 0 0 0

Capital Work in Progress 3843.6 3487.7 4367.5 2497.4 1157.7

Producing Properties 0 0 0 0 0

Investments 44980 42372 4103.2 6106.2 4070

Current Assets, Loans & Advances

Inventories 3077.8 3480.5 2605 2333 2174.8

Sundry Debtors 434.83 635.98 543.48 631.63 539.4

Cash and Bank 3234.1 1590.6 465.04 7681.4 288.39

Loans and Advances 5500 5032.7 33349 3055.9 1235.1

Total Current Assets 12247 10740 36962 13702 4237.6

Less : Current Liabilities and Provisions

Current Liabilities 6859.9 6039.6 3849.6 3523.2 2836

Provisions 3303.7 3950.8 3984.8 3037.5 2361.4

Total Current Liabilities 10164 9990.4 7834.4 6560.7 5197.4

Net Current Assets 2083.1 749.34 29128 7141.2 -959.8

Miscellaneous Expenses not written off0 105.07 155.11 202.53 253.27

Deferred Tax Assets 1178.6 1306.6 1211.5 970.02 771.15

Deferred Tax Liability 2046.3 1892.3 1893.3 1719 1728.2

Net Deferred Tax -867.7 -585.7 -681.8 -748.9 -957

Total Assets 62201 57123 45328 23741 12271

Contingent Liabilities 4728.4 3921.8 2756.5 5073 2209.5

FINANCE - PROFIT AND LOSS - Tata Steel (Curr: Rs in Cr.)

201003 (12)200903 (12)200803 (12)200703 (12)200603 (12)

INCOME :

Sales Turnover 26758 26844 22190 19763 17140

Excise Duty 1817 2495.2 2537 2304.2 2004.8

Net Sales 24941 24349 19653 17458 15135

Other Income 1287.9 651.51 975.08 568.31 356.24

Stock Adjustments -135 289.27 38.73 82.47 104.91

Total Income 26094 25289 20666 18109 15597

EXPENDITURE :

Raw Materials 5663.8 6068.8 3743.1 3572.1 3024.4

Power & Fuel Cost 1383.4 1222.5 1048.1 1027.8 897.57

Employee Cost 2354.1 2295.4 1803.9 1599 1397.4

Other Manufacturing Expenses3509.4 3195.9 2611.2 2500 2090.7

Selling and Administration Expenses2044.5 1831.5 1601.8 1491.6 1373.7

Miscellaneous Expenses 1319.1 1240.4 1203.7 822.57 735.89

Less: Pre-operative Expenses Capitalised326.11 343.65 175.5 236.02 112.62

Total Expenditure 15948 15511 11836 10777 9407

Operating Profit 10146 9778.5 8830 7332.2 6189.6

Interest 1848.2 1489.5 929.03 251.25 174.51

Gross Profit 8297.5 8289 7901 7080.9 6015.1

Depreciation 1083.2 973.4 834.61 819.29 775.1

Profit Before Tax 7214.3 7315.6 7066.4 6261.7 5240

Tax 1998 2173 2252 2076 1579

Fringe Benefit tax 0 16 19 16 27

Deferred Tax 169.5 -75.13 108.33 -52.51 127.58

Reported Net Profit 5046.8 5201.7 4687 4222.2 3506.4

Extraordinary Items 624.85 220.24 312.43 -83.74 -1.23

Adjusted Net Profit 4422 4981.5 4374.6 4305.9 3507.6

Adjst. below Net Profit 12.28 0 0 0 0

P & L Balance brought forward9496.7 6387.5 4594 2976.2 1790.2

Statutory Appropriations 0 0 0 0 0

Appropriations 1783.1 2092.5 2893.6 2604.3 2320.4

P & L Balance carried down 12773 9496.7 6387.5 4594 2976.2

Dividend 709.77 1169 1168.9 943.91 719.51

Preference Dividend 45.88 109.45 22.19 0 0

Equity Dividend % 80 160 160 155 130

Earnings Per Share-Unit Curr 54.97 66.75 61.06 69.95 61.51

Earnings Per Share(Adj)-Unit Curr54.97 66.75 61.06 61.82 54.36

Book Value-Unit Curr 416.51 338.04 298.7 240.22 176.19

FINANCE - CASH FLOW - Tata Steel (Curr: Rs in Cr.)

201003 200903 200803 200703 200603

Cash Flow Summary

Cash and Cash Equivalents at Beginning of the year1592.9 465.04 7681.4 288.39 246.72

Net Cash from Operating Activities8369.2 7549.9 6254.2 4896 3637.5

Net Cash Used in Investing Activities-5255 -9581 -29319 -5430 -2465

Net Cash Used in Financing Activities-1473 3156.4 15848 7926.5 -1131

Net Inc/(Dec) in Cash and Cash Equivalent1641.3 1125.6 -7216 7393 41.67

Cash and Cash Equivalents at End of the year3234.1 1590.6 465.04 7681.4 288.39

RATIOS - KEY FINANCIAL RATIOS - Tata Steel

201003 200903 200803 200703 200603

Key Ratios

Debt-Equity Ratio 0.78 0.78 0.67 0.51 0.31

Long Term Debt-Equity Ratio 0.78 0.78 0.66 0.5 0.3

Current Ratio 1.05 2.3 2.88 1.27 0.71

Turnover Ratios

Fixed Assets 1.26 1.47 1.37 1.26 1.2

Inventory 8.16 8.82 8.99 8.77 8.47

Debtors 49.98 45.52 37.77 33.75 30.57

Interest Cover Ratio 4.42 5.91 8.61 25.92 31.03

PBIDTM (%) 34.58 36.43 39.79 37.1 36.11

PBITM (%) 30.53 32.8 36.03 32.96 31.59

PBDTM (%) 27.67 30.88 35.61 35.83 35.09

CPM (%) 20.57 23 24.88 25.51 24.98

APATM (%) 16.53 19.38 21.12 21.36 20.46

ROCE (%) 13.7 17.23 23.27 36.63 50.13

RONW (%) 14.19 21.88 25.97 35.4 41.7