Standalone Profit and Loss Statement

Net revenue from operations

Other income
Total Revenue
Expenses
Cost of material consumed
Purchase of stock-in-trade
Change in inventories of FG, WIP& stock-in-trade
Employee benefit expenses
Finance costs
Depreciation and amortisation
Other expenses
Cost of Mfd/purchased for own use
Total expenses
Profit before exceptional items and tax
Add: Exceptional items
PBT
Current tax
MAT credit availed of
Deferred tax (Net)
Net profit for the year
Dividend (%)
Dividend
Tax on Dividend
Per share data (in Rs.)
Dividend Per Share
Earnings per share
Book Value per share
Market price per share
Standalone Balance Sheet
Equity & Liabilities
Share capital
Reserves & Surplus
Total Shareholders' fund
Non-current Liabilities
Long term borrowings
Deferred tax liabilities (Net)
Other long term liabilities
Long term provisions

Maruti Suzuki
Mar-16 Mar-15
57746.3 49970.6
461.9
831.6
58208.2 50802.2
35706.9
3126.4
6.9
1988.7
81.5
2823.9
7999.1
-60.2
51673.2
6535
0
6535
2041.4
0
-77.8
4571.4
700
1057.3
101.6

32867.8
2665.2
-455.9
1606.6
206
2470.3
6643.1
-69.1
45934
4868.2
0
4868.2
1302.6
-70.4
-75.2
3711.2
500
755.2
100.7

35
25
144.3
117.8
894.3
784.9
3719
3699
Maruti Suzuki
Mar-16 Mar-15
151
151
26856.1 23553.2
27007.1 23704.2
0
474.1
122.4
302.1
898.6

144.8
481
105.4
292.6
1023.8

Current liabilities
Short term borrowings
Trade payables
Total outstanding duies of MSMEs
Total outstanding dues of other than MSMEs
Other current liabilities
Short term provisions
Total
Assets
Fixed Assets
Tangible assets
Intangible assets
Capital work in progress
Intangible assets under development

77.4

35.4

53.3
59
6960
5359.1
7013.3
5418.1
2364.8
2007.4
1834.5
1360.4
11290
8821.3
39195.7 33549.3

12420.9
11967
346.9
292.3
1006.9
1882.8
0
0
13774.7 14142.1
Goodwill on consolidation
0
0
Non current investments
16912.7
9817.6
Defferred tax assets (net)
0
0
Long term loans and advances
1349.7
1349.3
Other non-current assets
9
44.1
18271.4
11211
Total Non-current assets 32046.1 25353.1
Current Assets
Current investments
873
2996.4
Inventories
3132.1
2685.9
Trade receivables
1298.6
1069.8
Cash and Bank Balances
39.1
18.3
Shortterm loans and advances
1556.5
1172.8
Other current assets
250.2
253
Total Current assets
7149.5
8196.2
Total
39195.6 33549.3

Table-1: Common Size P&L

Table-2: Common Base P&L
M&M
Maruti Suzuki
M&M
Maruti Suzuki
Mar-16 Mar-15 Mar-16 Mar-15 Mar-16 Mar-15
Mar-16
40884.9 38444.8
99.21%
98.36%
97.95%
97.84%
115.56%
854.8
848.9
0.79%
1.64%
2.05%
2.16%
55.54%
41739.7 39293.7 100.00% 100.00% 100.00% 100.00%
114.58%
19373.2
10409.3
-215.8
2342.2
155.3
1108.6
4485.3
-79.26
37578.84
4160.86
68.74
4229.6
857.6
-52
256.8
3167.2
240
745.31
96

20272.5
7359.4
323.6
2316.9
214.3
974.9
4099.9
-100.9
35460.6
3833.1
335.72
4168.82
835.9
-92.7
104.6
3321.02
240
745.31
102

61.34%
5.37%
0.01%
3.42%
0.14%
4.85%
13.74%
-0.10%
88.77%
11.23%
0.00%
11.23%
3.51%
0.00%
-0.13%
7.85%

64.70%
5.25%
-0.90%
3.16%
0.41%
4.86%
13.08%
-0.14%
90.42%
9.58%
0.00%
9.58%
2.56%
-0.14%
-0.15%
7.31%

46.41%
24.94%
-0.52%
5.61%
0.37%
2.66%
10.75%
-0.19%
90.03%
9.97%
0.16%
10.13%
2.05%
-0.12%
0.62%
7.59%

51.59%
18.73%
0.82%
5.90%
0.55%
2.48%
10.43%
-0.26%
90.25%
9.75%
0.85%
10.61%
2.13%
-0.24%
0.27%
8.45%

108.64%
117.30%
-1.51%
123.78%
39.56%
114.31%
120.41%
87.12%
112.49%
134.24%
134.24%
156.72%
0.00%
103.46%
123.18%

12
12
51.8
54.4
718.8
637.6
Table-4
Table-5
1209
1187 Common Size Balance Sheet
Common Base Balance Sheet
M&M
Maruti Suzuki
M&M
Maruti Suzuki
Mar-16 Mar-15 Mar-16 Mar-15 Mar-16 Mar-15
Mar-16
296.32
295.7
0.39%
0.45%
0.81%
0.90%
1.00
21410.9 18959.39
68.52%
70.20%
58.80%
57.55%
1.14
21707.2 19255.1
68.90%
70.65%
59.62%
58.45%
1.14
1495.42 2514.13
1247.51
979.7
596.4
614.3
672.14
607.3
4011.47 4715.43

0.00%
1.21%
0.31%
0.77%
2.29%

0.43%
1.43%
0.31%
0.87%
3.05%

4.11%
3.43%
1.64%
1.85%
11.02%

7.63%
2.97%
1.86%
1.84%
14.31%

0.00
0.99
1.16
1.03
0.88

106.2

0.00%
0.20%

0.00%
0.11%

0.00%
0.96%

0.00%
0.32%

2.19

121.7
79.5
6641.9
5285.9
6763.6
5365.4
2242.57
2041.1
1339.3
1461.4
10693.6
8974.1
36412.3 32944.6

0.14%
17.76%
17.89%
6.03%
4.68%
28.80%
100.00%

0.18%
15.97%
16.15%
5.98%
4.05%
26.29%
100.00%

0.33%
18.24%
18.58%
6.16%
3.68%
29.37%
100.00%

0.24%
16.04%
16.29%
6.20%
4.44%
27.24%
100.00%

0.90
1.30
1.29
1.18
1.35
1.28
1.17

6902.6
5795.4
1050.3
134
234.9
755.7
1330.6
1423
9518.4
8108.1
0
0
11144.7 11372.7
0
0
4057.4
3232.3
58.7
103.4
15260.8 14708.4
24779.2 22816.5

31.69%
0.89%
2.57%
0.00%
35.14%
0.00%
43.15%
0.00%
3.44%
0.02%
46.62%
81.76%
0.00%
2.23%
7.99%
3.31%
0.10%
3.97%
0.64%
18.24%
100.00%

35.67%
0.87%
5.61%
0.00%
42.15%
0.00%
29.26%
0.00%
4.02%
0.13%
33.42%
75.57%
0.00%
8.93%
8.01%
3.19%
0.05%
3.50%
0.75%
24.43%
100.00%

18.96%
2.88%
0.65%
3.65%
26.14%
0.00%
30.61%
0.00%
11.14%
0.16%
41.91%
68.05%
0.00%
6.52%
7.38%
6.90%
6.31%
3.24%
1.60%
31.95%
100.00%

17.59%
0.41%
2.29%
4.32%
24.61%
0.00%
34.52%
0.00%
9.81%
0.31%
44.65%
69.26%
0.00%
5.36%
7.40%
7.76%
6.27%
2.35%
1.61%
30.74%
100.00%

1.04
1.19
0.53

348.1

2375.7
1765.4
2687.9
2437.6
2512
2558
2297
2064.8
1179.3
773.1
581
529.3
11632.9 10128.2
36412.1 32944.7

0.97
1.72
1.00
0.20
1.63
1.26
0.29
1.17
1.21
2.14
1.33
0.99
0.87
1.17

Table-3
: Common Base P&L
Common Size & Base P&L
M&M
Maruti Suzuki
M&M
Mar-16
Mar-16
Mar-16
106.35%
100.86%
100.11%
100.70%
48.48%
94.79%
106.22%
100.00%
100.00%
95.56%
141.44%
-66.69%
101.09%
72.47%
113.71%
109.40%
78.55%
105.97%
108.55%
20.48%
101.46%
102.60%
56.09%
245.51%
95.37%

94.82%
102.38%
-1.32%
108.03%
34.53%
99.77%
105.09%
76.04%
98.18%
117.16%
117.16%
136.78%
0.00%
90.29%
107.51%

89.96%
133.15%
-62.78%
95.17%
68.22%
107.05%
102.99%
73.95%
99.76%
102.19%
19.28%
95.51%
96.58%
52.81%
231.12%
89.78%

Table-6
on Base Balance Sheet
Common Size & Base BS
M&M
Maruti Suzuki
M&M
Mar-16
Mar-16
Mar-16
1.00
0.86
0.91
1.13
0.98
1.02
1.13
0.98
1.02
0.59
1.27
0.97
1.11
0.85

0.00
0.84
0.99
0.88
0.75

0.54
1.15
0.88
1.00
0.77

3.28

1.87

2.97

1.53
1.26
1.26
1.10
0.92
1.19
1.11

0.77
1.11
1.11
1.01
1.15
1.10
1.00

1.39
1.14
1.14
0.99
0.83
1.08
1.00

1.19
7.84
0.31
0.94
1.17

0.89
1.02
0.46
0.83

1.08
7.09
0.28
0.85
1.06

0.98

1.47

0.89

1.26
0.57
1.04
1.09

0.86
0.17
1.39
1.08

1.14
0.51
0.94
0.98

1.35
1.10
0.98
1.11
1.53
1.10
1.15
1.11

0.25
1.00
1.04
1.83
1.14
0.85
0.75
1.00

1.22
1.00
0.89
1.01
1.38
0.99
1.04
1.00

Standalone Profit and Loss Statement

Net revenue from operations
Other income
Total Revenue
Expenses
Cost of material consumed
Purchase of stock-in-trade
Change in inventories of FG, WIP& stock-in-trade
Employee benefit expenses
Finance costs
Depreciation and amortisation
Other expenses
Cost of Mfd/purchased for own use
Total expenses
Profit before exceptional items and tax
Add: Exceptional items
PBT
Current tax
MAT credit availed of
Deferred tax (Net)
Net profit for the year
Dividend (%)
Dividend
Tax on Dividend
Per share data (in Rs.)
Dividend Per Share
Earnings per share
Book Value per share
Market price per share
Standalone Balance Sheet
Equity & Liabilities
Share capital
Reserves & Surplus
Total Shareholders' fund
Non-current Liabilities
Long term borrowings
Deferred tax liabilities (Net)
Other long term liabilities
Long term provisions
Current liabilities
Short term borrowings
Trade payables
Total outstanding duies of MSMEs

Maruti Suzuki
Mar-16 Mar-15
57746.3 49970.6
461.9
831.6
58208.2 50802.2
35706.9
3126.4
6.9
1988.7
81.5
2823.9
7999.1
-60.2
51673.2
6535
0
6535
2041.4
0
-77.8
4571.4
700
1057.3
101.6

M&M
Mar-16
40884.9
854.8
41739.7

32867.8 19373.2
2665.2 10409.3
-455.9
-215.8
1606.6
2342.2
206
155.3
2470.3
1108.6
6643.1
4485.3
-69.1
-79.26
45934 37578.84
4868.2 4160.86
0
68.74
4868.2
4229.6
1302.6
857.6
-70.4
-52
-75.2
256.8
3711.2
3167.2
500
240
755.2
745.31
100.7
96

35
25
12
144.3
117.8
51.8
894.3
784.9
718.8
3719
3699
1209
Maruti Suzuki
M&M
Mar-16 Mar-15 Mar-16
151
151
296.32
26856.1 23553.2 21410.9
27007.1 23704.2 21707.2
0
474.1
122.4
302.1
898.6

144.8 1495.42
481 1247.51
105.4
596.4
292.6
672.14
1023.8 4011.47

77.4

35.4

348.1

53.3

59

121.7

Total outstanding dues of other than MSMEs

Other current liabilities
Short term provisions
Total
Assets
Fixed Assets
Tangible assets
Intangible assets
Capital work in progress
Intangible assets under development
Goodwill on consolidation
Non current investments
Defferred tax assets (net)
Long term loans and advances
Other non-current assets

Current Assets
Current investments
Inventories
Trade receivables
Cash and Bank Balances
Shortterm loans and advances
Other current assets
Total

6960
5359.1
6641.9
7013.3
5418.1
6763.6
2364.8
2007.4 2242.57
1834.5
1360.4
1339.3
11290
8821.3 10693.6
39195.7 33549.3 36412.3

12420.9
11967
6902.6
346.9
292.3
1050.3
1006.9
1882.8
234.9
0
0
1330.6
13774.7 14142.1
9518.4
0
0
0
16912.7
9817.6 11144.7
0
0
0
1349.7
1349.3
4057.4
9
44.1
58.7
18271.4
11211 15260.8
32046.1 25353.1 24779.2
873
2996.4
2375.7
3132.1
2685.9
2687.9
1298.6
1069.8
2512
39.1
18.3
2297
1556.5
1172.8
1179.3
250.2
253
581
7149.5
8196.2 11632.9
39195.6 33549.3 36412.1

M&M
Mar-15
38444.8
848.9
39293.7
20272.5
7359.4
323.6
2316.9
214.3
974.9
4099.9
-100.9
35460.6
3833.1
335.72
4168.82
835.9
-92.7
104.6
3321.02
240
745.31
102
12
54.4
637.6
1187
M&M
Mar-15
295.7
18959.39
19255.1
2514.13
979.7
614.3
607.3
4715.43
106.2
79.5

5285.9
5365.4
2041.1
1461.4
8974.1
32944.6

5795.4
134
755.7
1423
8108.1
0
11372.7
0
3232.3
103.4
14708.4
22816.5
1765.4
2437.6
2558
2064.8
773.1
529.3
10128.2
32944.7

Financial Ratios
A. Short-term Liquidity Ratios
1. Current Ratio =CA/CL
2. Quick Ratio =(CA-Inventory)/CL
3. Cash Ratio =Cash & BB/CL
4.NWC to TA Ratio =(CA-CL)/TA
5. Interval ratio =CA/Avg daily cost
B. Long-term Liquidity Ratios
1. Total Debt Ratio =(TA-TE)/TA
2.Debt-Equity Ratio =Total Debt/TE
3.Equity Multiplier =TA/TE
4.Times Interest Earned (TIE) Ratio=PBIT/I
5.Cash Coverage Ratio =EBITDA/I
C.Asset Turnover Ratios
1 a). Inventory Turnover Ratio(ITR) =NS/Inventory
1. b). Days' sales in inventory =365/ITR
2. a) Receivables Turnover Ratio (RTR) =NS/Trade Receivables
2. b). Days' sales in receivables =365/RTR
3.a). Payables Turnover Ratio =COGS*/Trade Payables
3.b) Days' COGS in Payables = 365/PTR
4. NWC turnover ratio =NS/NWC
5. CA Turnover Ratio =NS/CA
6. FA Turnover Ratio =NS/NFA
7. Total Asset Turnover Ratio (TATR) =NS/TA
D. Profitability Ratios
1. Gross profit margin (GPM)=Gross profit/NS = (NS-COGS*)/NS
2. Operating Profit Margin(OPM) =PBIT/NS
3. Net Profit Margin (NPM) =NP/Total Revenue
4. Adj NPM = (NP-Exceptional items)/Total Revenue
5. Return on Equity (ROE) =NP/TE
ROE Analysis
a).PBIT/Net Rev from Ope (impact of profitable operations)
b).PBT/PBIT (Impact of finance cost)
c). Net profit available to shareholders/PBT (Impact of tax)
d) .TATR (Impact of efficiency in using assets)
e).TA/SF (Impact of borrowing)
Return of Equity = Product of the above ratios
E. Valuation Ratios
1.Price- Earnings (P/E) Ratio =Market price per share/Earnings per share
2.Price-sales(P/S) ratio =MP per share/Sales per share
3.Pric-book (P/B) ratio =MP per share/BV per share
4. Dividend yield (DY)= DPS/beginning price per share
5. Capital gain (CG)=(end price per share-beginning price per share)/beginning price
6. Total Return to Shareholders=DY+CG
Absolute Capital Gain

DPS
Market Return

Maruti Suzuki
Mar-16 Mar-15
0.63
0.93
0.36
0.62
0.00
0.00
-0.11
-0.02
59.53
76.31

M&M
Mar-16 Mar-15 Ideal
1.09
1.13
0.84
0.86
0.21
0.23 0.03
0.04
128.74
118.62

1.3 Because price will depreciate of assets if compa

1 Comparatively highly illiquid compnent of inve

220

0.31
0.45
1.45
81.18
115.83

0.29
0.42
1.42
24.63
36.62

0.40
0.68
1.68
27.79
34.93

0.42
0.71
1.71
18.89
23.44

18.44
19.80
44.47
8.21
6.97
52.40
-13.95
8.08
4.19
1.47

18.60
19.62
46.71
7.81
8.02
45.50
-79.94
6.10
3.53
1.49

15.21
24.00
16.28
22.43
5.39
67.69
43.53
3.51
4.30
1.12

15.77 Higher the Better

Operating Cost = COGS + Selling & A
23.14
Operating Cost = Sum of all expense
15.03
EBIT= Operating Profit
24.29
6.43
6.25
7.81
4.88
5.81
56.79
58.4
7.24
74.85
62.84
33.31
3.80
4.74
1.17

0.16
0.11
0.08
0.08
0.17

0.13
0.10
0.07
0.07
0.16

0.11
0.11
0.08
0.07
0.15

0.11
0.11
0.08
0.08
0.17

0.11
0.99
0.70
1.47
1.45
0.17

0.10
0.96
0.76
1.49
1.42
0.16

0.11
0.96
0.75
1.12
1.68
0.15

0.11
0.95
0.80
1.17
1.71
0.17

25.77
2.04
4.16
0.01
0.01
0.01
20

31.40
2.33
4.71
0.01

23.34
1.81
1.68
0.01
0.02
0.03

21.82
1.88
1.86
0.01

22

0.24

0.22

0.19

0.19

35
-0.1

12

eciate of assets if company defaults and 1.3x becomes 1x

liquid compnent of inventory is gone

ost = COGS + Selling & Admin Expense (Depreciation is included)

ost = Sum of all expenses till Operating Profit except financial cost
ating Profit