GAIL (India) Ltd.

- Research Center
Balance sheet (Rs. In crores)
Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Mar ' 07

Sources of funds
Owner's fund
Equity share capital
Share application money
Preference share capital
Reserves & surplus

1,268.48
17,984.86

1,268.48
15,530.52

1,268.48
13,501.15

845.65
12,159.23

845.65
10,547.26

Loan funds
Secured loans
Unsecured loans
Total

2,310.00 1,446.00 1,100.00 1,100.00 1,100.00

34.38
100.13
165.87
237.85
21,563.34 18,279.38 15,969.76 14,270.75 12,730.76

Uses of funds
Fixed assets
Gross block
Less : revaluation reserve
Less : accumulated depreciation
Net block
Capital work-in-progress
Investments

22,144.38
9,740.81
12,403.57
5,879.17
2,035.74

21,037.67
9,106.57
11,931.10
2,640.51
1,763.01

17,603.98
8,553.66
9,050.32
2,426.33
1,737.27

16,957.86
8,024.57
8,933.29
816.66
1,490.88

14,932.56
7,478.19
7,454.37
1,936.94
1,463.84

Net current assets

Current assets, loans & advances
Less : current liabilities & provisions
Total net current assets
Miscellaneous expenses not written
Total

11,692.97
10,448.11
1,244.86
21,563.34

13,899.24
11,954.48
1,944.76
18,279.38

12,393.93
9,638.09
2,755.84
15,969.76

10,525.05
7,495.13
3,029.92
14,270.75

7,814.12
5,938.51
1,875.61
12,730.76

8,557.39
18,811.22
12684.77

929.70
7,580.53
13,539.33
12684.77

897.96
4,905.94
11,581.19
12684.77

598.16
6,343.17
8,115.13
8456.52

1,517.94
5,458.80
4,940.60
8456.52

Notes:
Book value of unquoted investments
Market value of quoted investments
Contingent liabilities
Number of equity sharesoutstanding
(Lacs)

Profit loss account

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Mar ' 07

Income
Operating income

32,458.64

24,991.65

23,784.71

18,012.74

16,036.56

Expenses
Material consumed
Manufacturing expenses
Personnel expenses
Selling expenses
Administrative expenses
Expenses capitalised
Cost of sales
Operating profit
Other recurring income
Adjusted PBDIT
Financial expenses
Depreciation
Other write offs
Adjusted PBT
Tax charges
Adjusted PAT
Non recurring items
Other non cash adjustments
Reported net profit
Earnings before appropriation
Equity dividend
Preference dividend
Dividend tax
Retained earnings

23,861.64
1,142.14
784.09
158.63
1,020.86
-37.52
26,929.84
5,528.80
504.01
6,032.81
139.90
650.29
5,242.62
1,678.86
3,563.76
14.57
-17.20
3,561.13
3,561.13
951.36
155.32
2,454.45

16,840.05
1,985.18
621.20
151.23
723.06
-20.64
20,300.08
4,691.57
541.10
5,232.67
85.18
561.82
4,585.67
1,438.63
3,147.04
-7.55
0.35
3,139.84
3,139.84
951.36
158.99
2,029.49

16,646.23
1,703.06
576.67
54.93
698.03
-16.74
19,662.18
4,122.53
796.26
4,918.79
101.09
559.91
4,257.79
1,400.32
2,857.47
-43.74
-10.03
2,803.70
2,803.70
887.93
150.90
1,764.87

11,371.17
1,536.61
470.01
42.28
639.74
-2.16
14,057.65
3,955.09
555.25
4,510.34
94.25
571.02
3,845.07
1,253.54
2,591.53
-12.32
22.25
2,601.46
2,601.46
845.65
143.72
1,612.09

11,296.17
818.68
292.87
46.25
594.67
-1.09
13,047.55
2,989.01
544.98
3,533.99
107.08
575.38
2,851.53
813.03
2,038.50
0.58
347.59
2,386.67
2,386.67
845.65
123.62
1,417.40

Cash flow
Mar ' 11
Profit before tax
5,239.99
Net cashflow-operating activity
3,077.25
Net cash used in investing activity -4,729.49
Netcash used in fin. activity
-387.92
Net inc/dec in cash and equivlnt
-2,040.16
Cash and equivalnt begin of year 4,171.51
Cash and equivalnt end of year
2,131.35

Mar ' 10
4,578.47
4,677.43
-3,416.21
-545.86
715.36
3,456.15
4,171.51

Mar ' 09
4,204.02
2,577.88
-2,252.15
-1,342.57
-1,016.84
4,472.99
3,456.15

Mar ' 08
3,855.00
3,412.15
-852.30
-747.27
1,812.58
2,660.41
4,472.99

Mar ' 07
2,859.78
1,484.43
-1,668.82
-1,651.16
-1,835.55
4,495.94
2,660.39

Ratios
Mar ' 11 Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07
Per share ratios
Adjusted EPS (Rs)
Adjusted cash EPS (Rs)
Reported EPS (Rs)
Reported cash EPS (Rs)
Dividend per share
Operating profit per share (Rs)
Book value (excl rev res) per share (Rs)
Book value (incl rev res) per share (Rs.)
Net operating income per share (Rs)
Free reserves per share (Rs)

28.09
33.22
28.07
33.20
7.50
43.59
151.78
151.78
255.89
140.21

24.81
29.24
24.75
29.18
7.50
36.99
132.43
132.43
197.02
120.92

22.53
26.94
22.10
26.52
7.00
32.50
116.44
116.44
187.51
104.90

30.65
37.40
30.76
37.52
10.00
46.77
153.79
153.79
213.00
141.86

24.11
30.91
28.22
35.03
10.00
35.35
134.72
134.72
189.64
123.18

Profitability ratios
Operating margin (%)
Gross profit margin (%)
Net profit margin (%)
Adjusted cash margin (%)
Adjusted return on net worth (%)
Reported return on net worth (%)
Return on long term funds (%)

17.03
15.02
10.80
12.78
18.50
18.49
24.96

18.77
16.52
12.29
14.52
18.73
18.69
25.55

17.33
14.97
11.40
13.90
19.34
18.98
27.29

21.95
18.78
14.01
17.03
19.92
20.00
27.60

18.63
15.05
14.39
15.76
17.89
20.94
23.23

Leverage ratios
Long term debt / Equity
Total debt/equity
Owners fund as % of total source
Fixed assets turnover ratio

0.11
0.11
89.28
1.48

0.08
0.08
91.90
1.20

0.08
0.08
92.48
1.36

0.09
0.09
91.12
1.07

0.11
0.11
89.49
1.08

Liquidity ratios
Current ratio
Current ratio (inc. st loans)
Quick ratio
Inventory turnover ratio

1.12
1.12
1.04
75.77

1.16
1.16
1.09
97.51

1.29
1.29
1.21
101.36

1.40
1.40
1.31
79.18

1.32
1.32
1.21
80.80

Payout ratios
Dividend payout ratio (net profit)
Dividend payout ratio (cash profit)
Earning retention ratio
Cash earnings retention ratio

31.07
26.27
68.95
73.74

35.36
29.99
64.72
70.07

37.05
30.88
63.65
69.61

38.03
31.18
61.83
68.72

40.61
32.72
52.46
62.92

Coverage ratios
Adjusted cash flow time total debt
Financial charges coverage ratio
Fin. charges cov.ratio (post tax)

0.54
43.12
31.10

0.39
61.43
44.46

0.35
48.66
34.27

0.40
47.85
34.66

0.51
33.00
28.66

Component ratios
Material cost component (% earnings)

73.92

67.46

70.00

63.29

70.90

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 (%)

0.48
0.01
0.63
33.33

0.60
0.02
0.53
33.33

0.23
0.02
0.51
33.33

0.23
0.03
0.51
-

0.28
0.17
0.57
-

Dividend
Year
2011
2010
2010
2009
2009
2009
2008
2007
2007
2007
2006
2006
2006

Month
May
Nov
May
Dec
Jun
Jan
May
Nov
May
Feb
Dec
Apr
Jan

Dividend (%)
55
20
55
20
30
40
60
40
20
25
55
20
20

Year
2005
2005
2004
2004
2003
2003
2003
2002
2001
2000
1999
1997

Month
Dec
Jun
Dec
Aug
Dec
Jun
Jan
Jun
Jun
May
Aug
Jul

Dividend (%)
60
40
40
40
40
40
30
45
40
30
35
15

Bonus announcement
Year
2008

Month
Jun

Ratio
1:2

Ex Bonus Date
06/10/2008

Share holding
Share holding pattern as
on :
Face value

Indian Promoters
Sub total

Banks Fin. Inst. and

Insurance
FII's
Sub total

30/06/2011

31/03/2011

10.00
No. Of
Shares

10.00
%
No. Of
Holding
Shares
Promoter's holding
727405675
57.34
727405675
727405675
57.34
727405675
Non promoter's holding
Institutional investors
183001897
14.43
180582155
163709171
398687930

12.91
31.43

158704082
397479760

31/12/2010

%
Holding

10.00
No. Of
Shares

%
Holding

57.34
57.34

727405675
727405675

57.34
57.34

14.24

172395445

13.59

12.51
31.34

164466956
398485031

12.97
31.41

Private Corporate
Bodies
NRI's/OCB's/Foreign
Others
GDR/ADR
Govt
Others
Sub total
General public
Grand total

14554932

Other investors
1.15
14542928

1.15

12412364

0.98

796858

0.06

795965

0.06

808391

0.06

9876552
91888984
381356
117498682
24885113
1268477400

0.78
7.24
0.03
9.26
1.96
100.00

10956210
91888984
359648
118543735
25048230
1268477400

0.86
7.24
0.03
9.35
1.97
100.00

91888984
327491
105437230
25061846
1256389782

7.24
0.03
8.31
1.98
99.05

Capital structure
From
Year

To
Year

2010

2011

2009

2010

2008

2009

2007

2008

2006

2007

2005

2006

2004

2005

2003

2004

2002

2003

2001

2002

2000

2001

1999

2000

1996

1999

1994

1996

Class Of
Share
Equity
Share
Equity
Share
Equity
Share
Equity
Share
Equity
Share
Equity
Share
Equity
Share
Equity
Share
Equity
Share
Equity
Share
Equity
Share
Equity
Share
Equity
Share
Equity
Share

Authorized
Capital

Issued
Capital

Paid Up Shares
(Nos)

Paid Up
Face Value

Paid Up
Capital

2,000.00

1,268.48

1268477400

10

1,268.48

2,000.00

1,268.48

1268477400

10

1,268.48

2,000.00

1,268.48

1268477400

10

1,268.48

1,000.00

845.65

845651600

10

845.65

1,000.00

845.65

845651600

10

845.65

1,000.00

845.65

845651600

10

845.65

1,000.00

845.65

845651600

10

845.65

1,000.00

845.65

845651600

10

845.65

1,000.00

845.65

845651600

10

845.65

1,000.00

845.65

845651600

10

845.65

1,000.00

845.65

845651600

10

845.65

1,000.00

845.65

845651600

10

845.65

1,000.00

845.65

845651600

10

845.65

1,000.00

845.32

845320000

10

845.32