SML Isuzu Financial Statement Analysis

------------------- in Rs. Cr. -------Mar '13 Mar '12

1. Sales Growth Rate
Net Sales

(F/I)*100

1,002.10
97.31

1,029.75
115.66

771.74
7.98
80.91
0
91.66
952.29

810.6
6.86
67.86
0.67
9.09
895.08

49.81
4.97

134.67
13.08

1,011.06
952.29
58.77
0
58.77
18.61
40.16
0
40.16
12.06
28.10
11.58
16.52

1,051.73
972.24
79.49
10.44
69.05
10.62
58.43
2.25
56.18
18.46
37.72
11.58
26.14

2. Operating Profit Margin

Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Miscellaneous Expenses
Total Operating Expenses
Operating Profit

OP(%)=OP/Net Sales*100
3. Net Profit Margin
Total Income
Total Expenses

EBITDAT
Depreciation

EBIT
Interest

EBT-1
Extra-ordinary items

EBT-2
Tax

PAT
Equity Dividend

Retained Earnings
NPM=Net Profit/Net Sales*100

1.16

1.12

4. Returns Ratio
PAT/SANE EBIT/ICE
ROA
ROA=PAT/Assets
Total Current Assets

456.38

374.04

Net Block
Fixed Deposits
Total Assets
Average Assets

Return on Assets(%)

139.29
0
595.67
583.035
5%

135.03
61.33
570.4
532.79
7%

14.48
249.61
264.09
252.645
11%

14.48
226.72
241.2
226.995
17%

264.09
22.05
140.05
426.19
383.695
10%

241.2
0
100
341.2
319.495
18%

771.74
174.83
206.38

810.6
237.93
225.915

RONW=PAT/(Equity+Reserves)
Equity Share Capital
Reserves
Networth
Avg Net Worth

RONW=PAT/(Equity+Reserves)
Return on Capital employed
Networth
Secured Loans
Unsecured Loans
Total Liabilities
Average Liabilities

ROCE=EBT/Avg CL
5. CID
Creditors Day(Ra/Cr)
Raw Materials
Current Liabilities
Avg CL
Creditor Factor(FCR)=Ra/Cr)

Creditors Day(365/FCr)
Inventory Days(Co/In)
Total Operating Expenses
Inventories
Average Inventories
Inventory Factor(Fci )

3.74

3.59

97.61

101.73

307.7283 331.228926
230.65
226.39
228.52
218.275
1.35

1.52

271.05

240.53

Debtors Days(365/F)

1,002.10
150.73
135.875
7.38
49.49

1,029.75
121.02
118.765
8.67
42.10

Cash Conversion Cycle

-222.93

-180.90

Inventory Days 365/Fci

Creditors Day
Net Sales
Sundry Debtors
Avg Debtors
Debtors Factor

6. Leverage Ratios

Debt:Equity(Total Debt/Equity+Reserves)
Secured Loans
Unsecured Loans
Total Debt
Average Debt
Equity Share Capital
Reserves
Total Equity
Average Equity

Debt:Equity(Total Debt/Equity+Reserves)
Maximum Debt(5*Operating Profit)

22.05
140.05
162.1
131.05
14.48
249.61
264.09
252.645
0.52

0
100
100
92.5
14.48
226.72
241.2
226.995
0.41

249.05

673.35

75
150.73
230.65
53.18
509.56
467.95
174.83
206.38
2.27

26.63
121.02
226.39
52.3
426.34
411.72
237.93
225.915
1.82

75
50.815
174.83
206.38
0.25

26.63
24.75
237.93
225.915
0.11

276.87
237.34
4.22

197.81
180.125
5.72

264.09
252.645
3.97

241.2
226.995
4.54

Current Ratio=Current Assets/Current Liabilities

Current Assets
Cash
Debtors
Inventories
Loans Advances
Total Current Assets
Average Total Current Assets
Current Liabilities
Average Current Liabilities

Current Ratio=Current Assets/Current Liabilities

Quick Ratio
Cash
Average Cash
Current Liabilities
Average Current Liabilities

Quick Ratio=Cash/Current Liabilities

7. Turnover Ratios
Asset Turnover Ratio=Net Sales/Avg Total Assets
Assets
Average Assets

Asset Turnover Ratio=Net Sales/Avg Total Assets

Equity Turnover=Net Sales/Avg Net Worth
Net Worth
Average Net Worth

Equity Turnover=Net Sales/Avg Net Worth

--- in Rs. Cr. ------------------Mar '11 Mar '10 Mar '09

890.31
123.58

720.46
132.26

544.71

724.78
5.94
59.94
0.38
1.19
792.23

578.38
4.62
42.55
0.27
1
626.82

466.79
3.34
35.46
0.17
1.83
507.59

98.08
11.02

93.64
13.00

37.12
6.81

908.22
839.25
68.97
8.91
60.06
10.39
49.67
1.07
48.60
14.18
34.42
11.58
22.84

728.2
670.88
57.32
8.64
48.68
19.13
29.55
0.77
28.78
8.86
19.92
5.79
14.13

563.94
536.09
27.85
5.84
22.01
19.02
2.99
1.16
1.83
-0.65
2.48
1.57
0.91

1.30

349.54

0.80

0.29

326.78

46.49

127.5
18.14
495.18
471.445
7%

119.1
1.83
447.71
435.86
5%

28.4
349.12
424.01

14.48
198.31
212.79
201.26
17%

14.48
175.25
189.73
94.865
21%

0
0
0

212.79
0
85
297.79
286.075
17%

189.73
4.63
80
274.36
357.47
8%

151.29
69
220.29
440.58

724.78
213.9
206.715

578.38
199.53
107.365

466.79
15.2

3.51

5.39

104.10

67.76

314.3231 180.5072
210.16
160
185.08 153.165
1.70

1.18

214.92

309.71

890.31
116.51
126.535
7.04
51.88
-162.69

720.46
136.56
71.15
10.13
36.05
-278.00

0
146.33

544.71
5.74

0
85
85
84.815
14.48
198.31
212.79
201.26
0.42

4.63
80
84.63
186.96
14.48
175.25
189.73
94.865
1.97

69
220.29
289.29

490.4

468.2

22.87
116.51
210.16
47.56
397.1
383.84
213.9
206.715
1.86

30.22
136.56
160
43.8
370.58
412.64
199.53
107.365
3.84

301.36
5.74
146.33
1.27
454.7

22.87
26.545
213.9
206.715
0.13

30.22
165.79
199.53
107.365
1.54

301.36

162.44
155.86
5.71

149.28
74.64
9.65

212.79
201.26
4.42

189.73
170.51
4.23

151.29

0
0
0

15.2

15.2

Profit & Loss account of SML Isuzu

Income
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Selling and Admin Expenses
Miscellaneous Expenses
Preoperative Exp Capitalised
Total Expenses

------------------- in Rs. Cr. ------------------Mar '13

Mar '12

Mar '11

Mar '10

12 mths

12 mths

12 mths

12 mths

1,002.10
0
1,002.10
8.96
0
1,011.06

978.92
88.61
890.31
1.08
16.83
908.22

778.94
58.48
720.46
1.05
6.69
728.2

771.74
810.6
724.78
578.38
7.98
6.86
5.94
4.62
80.91
67.86
59.94
42.55
0
0.67
0.38
0.27
0
77.16
47.52
44.06
91.66
9.09
1.19
1
0
0
-0.5
0
952.29
972.24
839.25
670.88
Mar '13
Mar '12
Mar '11
Mar '10
12 mths

Operating Profit
PBDIT
Interest
PBDT
Depreciation
Other Written Of
Profit Before Tax
Extra-ordinary items
PBT (Post Extra-ord Items)
Tax
Reported Net Profit
Total Value Addition
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data (annualised)
Shares in issue (lakhs)
Earning Per Share (Rs)
Equity Dividend (%)
Book Value (Rs)

1,135.59
105.84
1,029.75
-0.97
22.95
1,051.73

12 mths

12 mths

12 mths

49.81
58.77
18.61
40.16
0
0
40.16
0
40.16
12.06
36.43
180.55
0
11.58
1.97

80.46
79.49
10.62
68.87
10.44
0
58.43
2.25
60.68
18.46
41.87
161.64
0
11.58
1.88

67.89
68.97
10.39
58.58
8.91
0
49.67
1.07
50.74
14.18
36.56
114.47
0
11.58
1.92

56.27
57.32
19.13
38.19
8.64
0
29.55
0.77
30.32
8.86
21.46
92.5
0
5.79
0.98

144.72
25.18
80
182.49

144.72
28.93
80
166.67

144.72
25.26
80
147.04

144.72
14.83
40
131.1

Balance Sheet of SML Isuzu

------------------- in Rs. Cr. -------------

Mar '09

Mar '13

Mar '12

12 mths

12 mths

12 mths

604.04
59.33
544.71
0.81
18.42
563.94
466.79
3.34
35.46
0.17
28.51
1.83
-0.01
536.09
Mar '09
12 mths
27.04
27.85
19.02
8.83
5.84
0
2.99
1.16
4.15
-0.65
4.79
69.31
0
1.57
0.27
104.87
4.57
15
92.05

Sources Of Funds
Total Share Capital
Equity Share Capital
Share Application Money
Preference Share Capital
Reserves
Revaluation Reserves
Networth
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities

14.48
14.48
14.48
14.48
0
0
0
0
249.61
226.72
0
0
264.09
241.2
22.05
0
140.05
100
162.1
100
426.19
341.2
Mar '13
Mar '12
12 mths

12 mths

Application Of Funds
Gross Block
Less: Accum. Depreciation
Net Block
Capital Work in Progress
Investments
Inventories
Sundry Debtors
Cash and Bank Balance
Total Current Assets
Loans and Advances
Fixed Deposits
Total CA, Loans & Advances
Defered Credit
Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets
Miscellaneous Expenses
Total Assets

210.2
70.91
139.29
10.02
0
230.65
150.73
75
456.38
53.18
0
509.56
0
174.83
57.86
232.69
276.87
0
426.18

195.21
60.18
135.03
8.36
0
226.39
121.02
26.63
374.04
52.3
61.33
487.67
0
237.93
51.93
289.86
197.81
0
341.2

Contingent Liabilities
Book Value (Rs)

27.65
182.49

25.04
166.67

-- in Rs. Cr. ------------------Mar '09

Mar '11

Mar '10

12 mths

12 mths

12 mths

10.49
14.48
14.48
10.49
14.48
14.48
0
0
0
0
0
0
86.03
198.31
175.25
0
0
0
96.52
212.79
189.73
151.29
0
4.63
69
85
80
220.29
85
84.63
316.81
297.79
274.36 Mar '09
Mar '11
Mar '10
12 mths
12 mths 12 mths

179.78
52.28
127.5
7.85
0
210.16
116.51
22.87
349.54
47.56
18.14
415.24
0
213.9
38.9
252.8
162.44
0
297.79

162.96
43.86
119.1
5.98
0
160
136.56
30.22
326.78
43.8
1.83
372.41
0
199.53
23.6
223.13
149.28
0
274.36

14.11
147.04

27.77
131.1

134.99
35.54
99.45
28.4
0
149.29
146.33
5.74
301.36
46.49
1.27
349.12
0
144.96
15.2
160.16
188.96
0
316.81
10.86
92.05