Fsa 1627217

Mahindra & Mahindra Ltd.
(Indian Rupee .in Crores) Balance Sheet
Year End Mar-2016 Mar-2015 Mar-2014
SOURCES OF FUNDS
Share Capital 296 296 295
Share warrants & Outstandings 148 107 139
Reserve 28,175 25,454 22,873
Shareholder's Funds 28,620 25,856 23,307
Minority Interest 6,327 5,892 5,733
Secured Loans 19,143 14,418 16,949
Unsecured Loans 12,524 13,657 13,521
Total Debts 31,667 28,076 30,470
Total Liabilities 66,614 59,824 59,510
Net_Block 48,414 41,563 39,008
Less: Accumulated Depreciation 23,228 19,943 18,074
Less: Impairment of Assets 2,657 2,574 2,553
Lease Adjustment A/c - - -
Capital Work in Progress 2,436 3,032 2,191
Pre-operative Expenses pending - - -
Assets in transit - - -
Investments 39,436 34,675 29,952
Current Assets, Loans & Advances

Inventories 10,629 8,453 8,354
Sundry Debtors (Debotrs) 6,419 5,476 5,725
Cash and Bank 4,906 4,912 6,523
Other Current Assets 1,140 969 921
Loans and Advances 20,018 17,812 15,842
Total Current Assets 43,112 37,622 37,364
Less : Current Liabilities and Provisions
Current Liabilities 37,747 31,371 25,060
Provisions 2,311 2,362 2,499
Total Current Liabilities 40,057 33,733 27,558
Net Current Assets 3,055 3,889 9,806
Miscellaneous Expenses not written off - - -
Deferred Tax Assets / Liabilities (843) (819) (820)
Total Assets 66,614 59,824 59,510
Contingent Liabilities 5,014 4,208 4,216

ahindra & Mahindra Ltd.
ance Sheet
Mar-2013 Mar-2012 Mar-2011 Mar-2010 Mar-2009 Mar-2008
295 295 294 283 273 239
131 111 34 8 7 4
19,534 16,299 13,956 9,865 6,791 5,922
19,961 16,704 14,284 10,156 7,070 6,165
5,297 4,525 4,337 2,462 3,030 2,735
14,126 11,607 8,932 8,972 7,725 6,982
10,089 8,354 6,405 5,659 5,101 3,377
24,215 19,961 15,337 14,631 12,826 10,359
49,473 41,190 33,958 27,249 22,926 19,258
38,297 35,018 29,973 14,204 13,042 10,690
17,727 15,720 13,102 5,334 5,341 4,219
2,263 2,100 2,163 318 311 -
- - - - - -
1,631 1,488 1,408 1,968 1,752 1,154
- - - - - -
- - - - - -
23,811 17,741 14,581 4,774 3,381 1,355

8,417 7,158 5,449 3,549 3,271 3,275
5,177 5,345 4,210 3,207 3,471 3,768
4,937 3,485 2,221 2,737 2,968 1,728
845 1,056 774 100 36 16
13,007 9,977 6,985 10,728 8,848 8,142
32,382 27,020 19,639 20,321 18,593 16,929
24,069 19,957 14,808 6,425 6,780 5,291
2,035 1,916 1,433 1,893 1,616 1,391
26,103 21,874 16,241 8,317 8,396 6,682
6,279 5,147 3,398 12,004 10,198 10,246
- - - - 17 14
(555) (384) (137) (48) 188 18
49,473 41,190 33,958 27,249 22,926 19,258
3,652 3,598 2,980 2,251 1,799 1,343

Mar-2007
238
4,614
4,855
1,659
5,619
2,529
8,149
14,663
7,819
3,591
559
1,003
2,429
2,703
2,045
6,860
14,040
4,270
931
5,201
8,839
19
15
14,663
473
(Indian Rupee .in Crores) Profit & Loss
No of Months 12 ### 12
Gross Sales 82,666 74,989 78,231
Less: Excise 4,650 3,541 4,230
Net Sales 78,016 71,448 74,001
EXPENDITURE :
Increase/Decrease in Stock (557) 301 (357)
Raw Materials Consumed 45,781 42,560 44,929
Power & Fuel Cost 781 787 923
Employee Cost 7,992 7,202 6,886
Other Manufacturing Expenses 2,300 2,269 2,346
General and Administration Expenses 1,197 982 988
Selling and Distribution Expenses 5,920 5,013 5,016
Miscellaneous Expenses 4,957 3,568 3,149
Less: Pre-operative Expenses Capitalise - - -
Total Expenditure 68,371 62,682 63,881
PBIDT (Excl OI) 9,644 8,766 10,120
Other Income 544 552 505
Operating Profit 10,188 9,318 10,625
Interest 3,373 3,157 2,954

PBDT 6,815 6,162 7,671
Depreciation 2,582 2,124 2,170
Profit Before Taxation & Exceptional Ite 4,234 4,038 5,502
Exceptional Income / Expenses 5 275 318
Profit Before Tax 4,239 4,313 5,820
Provision for Tax 1,864 1,720 1,496
PAT 2,375 2,593 4,323
Minority Interest (140) (244) (487)
Appropriations 20,471 18,356 17,016
Dividend(%) 240 ### 280
EPS 54 53 79
Book Value 480 435 392

ahindra & Mahindra Ltd.
fit & Loss
12 ### 12 ### 12 ###
73,972 63,012 39,548 33,671 28,829 25,939
5,278 3,613 2,684 2,102 2,072 2,155
68,693 59,399 36,864 31,569 26,756 23,785
(172) (1,170) (453) 27 179 (680)
41,929 36,643 20,451 15,241 12,885 12,309
937 866 602 511 471 438
6,819 6,591 4,222 4,576 4,269 3,624
2,114 1,871 1,250 1,526 1,347 1,349
853 834 546 838 1,198 1,366
4,166 3,577 2,276 1,840 1,479 1,235
2,934 2,836 1,912 1,494 1,264 836
- - - - - -
59,580 52,048 30,805 26,052 23,092 20,477
9,114 7,351 6,059 5,516 3,665 3,308
391 373 360 260 273 789
9,505 7,724 6,419 5,777 3,938 4,096
2,297 1,800 1,135 1,121 858 716

7,208 5,924 5,283 4,656 3,080 3,381
2,080 1,802 972 874 749 582
5,128 4,123 4,311 3,783 2,330 2,798
453 61 204 250 (76) (294)
5,580 4,184 4,515 4,033 2,254 2,504
1,935 1,408 1,317 1,161 549 659
3,646 2,776 3,198 2,871 1,706 1,845
(30) 67 (95) (413) (311) (283)
13,869 10,993 9,116 7,121 5,235 4,516
260 250 230 190 100 115
69 53 52 44 52 66
336 281 242 179 258 257

Mar-2007
12
19,138
1,549
17,589
(276)
9,237
253
2,382
700
1,041
874
659
14,870
2,719
398
3,117
417
2,700
380
2,320
(117)
2,202
581
1,622
(141)
3,437
115
63
202
(Rs.in Millions) Cash Flow Cons
No of Months 12 12 12
Profit Before Tax 4,234 4,038 5,502
Adjustment 3,018 2,416 2,585
Changes In working Capital (4,238) (3,698) (7,055)
Cash Flow after changes in Working Capi 3,014 2,756 1,031
Cash From Operating Activities 971 1,055 (244)
Cash Flow from Investing Activities (5,238) (4,165) (4,490)
Cash from Financing Activites 3,971 1,669 5,577
Net Cash Inflow / Outflow (296) (1,441) 844
Opening Cash & Cash Equivalents 3,000 4,633 3,823
Cash & Cash Equivalent on Amalgamation - - -
Cash & Cash Equivalent of Subsidiaries u 89 (193) (34)
Translation adjustment on reserves / op c - - -
Effect of Foreign Exchange Fluctuations - - -
Closing Cash & Cash Equivalent 2,792 3,000 4,633

hindra & Mahindra Ltd.
sh Flow Cons
12 12 12 12 12 12
5,128 4,123 4,311 3,783 2,331 2,798
2,536 2,422 1,217 1,300 884 459
(6,804) (4,859) (4,747) (1,150) 905 (1,350)
860 1,686 781 3,933 4,119 1,906
(922) 61 (577) 2,769 3,402 699
(2,788) (2,993) (1,747) (4,696) (3,443) (2,770)
4,508 4,256 1,437 1,843 1,207 1,690
799 1,324 (887) (84) 1,165 (381)
3,139 1,790 2,747 2,953 1,786 2,085
1 25 358 1 4 -
(116) (0) (0) (123) (2) 81
- - - - - -
- - - - - -
3,823 3,139 2,219 2,747 2,953 1,786

Mar-2007
12
2,320
323
(1,711)
931
(162)
(1,121)
2,120
836
1,180
69
2,085
Ratio
1) Liquidity Ratios Mar-2016 Mar-2015 Mar-2014
Current Ratio 1.1 1.1 1.4
Quick Ratio 0.8 0.9 1.1
Debtor Turnover Ratio 13.1 12.8 13.6
Days Sales Outstanding 54.9 56.4 53.0
Invetory Turnover Ratio 8.2 8.5 8.8
2) Solvency Ratio Mar-2016 Mar-2015 Mar-2014
Debt Equity Ratio 1.1 1.1 1.3
Liabilities To Equity Ratio 2.3 2.3 2.6
Interest Coverage Ratio 2.9 2.8 3.4
3) Profitability Ratios Mar-2016 Mar-2015 Mar-2014
Profit Margin % 3% 4% 6%
Asset Turnover 1.23 1.20 1.36
Return On Asset 4% 4% 8%
Return On Equity 9% 11% 20%
Earning per share 54.2 53.1 79.1

Common Size Analysis
Secured Loans 29% 24% 28%
Unsecured Loans 19% 23% 23%
Total Debts 48% 47% 51%
Investments 59% 58% 50%
Inventories 16% 14% 14%
Total Current Assets 65% 63% 63%
Current Liabilities 57% 52% 42%
Total Current Liabilities 60% 56% 46%
Raw Materials Consumed 59% 60% 61%
Employee Cost 10% 10% 9%
Other Manufacturing Expenses 3% 3% 3%
General and Administration Expenses 2% 1% 1%
Selling and Distribution Expenses 8% 7% 7%
Miscellaneous Expenses 6% 5% 4%
Total Expenditure 88% 88% 86%
Horizontal Analysis
Net Current Assets -21% -60% 56%
Net Sales 9% -3% 8%
Total Expenditure 9% -2% 7%
PAT -8% -40% 19%

Trend Analysis
Current Liabilities 15758% 13079% 10428%
Provisions 871% 892% 950%
Gross Sales 332% 292% 309%
Less: Excise -76% -81% -78%
Net Sales 308% 273% 287%
EXPENDITURE : -100% -100% -100%
Increase/Decrease in Stock -103% -98% -102%
Raw Materials Consumed 139% 122% 135%
Power & Fuel Cost -96% -96% -95%
Employee Cost -58% -62% -64%
Other Manufacturing Expenses -88% -88% -88%
General and Administration Expenses -94% -95% -95%
Selling and Distribution Expenses -69% -74% -74%
Miscellaneous Expenses -74% -81% -84%
Total Expenditure 257% 228% 234%
PAT -88% -86% -77%

hindra & Mahindra Ltd.
1.2 1.2 1.2 2.4 2.2 2.5
0.9 0.9 0.9 2.0 1.8 2.0
13.1 12.4 9.9 9.5 7.4 7.4
55.1 57.9 72.4 76.2 97.4 97.9
8.8 9.4 8.2 9.3 8.2 8.3
1.2 1.2 1.1 1.4 1.8 1.7
2.5 2.5 2.4 2.7 3.2 3.1
4.0 4.1 5.3 4.9 4.3 4.6
5% 5% 9% 9% 6% 8%
1.52 1.58 1.20 1.26 1.27 1.40
8% 7% 10% 11% 8% 11%
20% 18% 26% 33% 26% 33%
69.4 53.1 52.4 43.8 51.6 65.7

mmon Size Analysis
29% 28% 26% 33% 34% 36%
20% 20% 19% 21% 22% 18%
49% 48% 45% 54% 56% 54%
48% 43% 43% 18% 15% 7%
17% 17% 16% 13% 14% 17%
65% 66% 58% 75% 81% 88%
49% 48% 44% 24% 30% 27%
53% 53% 48% 31% 37% 35%
61% 62% 55% 48% 48% 52%
10% 11% 11% 14% 16% 15%
3% 3% 3% 5% 5% 6%
1% 1% 1% 3% 4% 6%
6% 6% 6% 6% 6% 5%
4% 5% 5% 5% 5% 4%
87% 88% 84% 83% 86% 86%
zontal Analysis
20% 38% -3% 9% 10% 21%
19% 35% 95% -1% 26% 28%
22% 51% -72% 18% 0% 16%
16% 61% 17% 18% 12% 35%
14% 69% 18% 13% 13% 38%
31% -13% 11% 68% -8% 14%

nd Analysis
13504% 11252% 8151% 8437% 7711% 7012%
10012% 8284% 6121% 2599% 2748% 2123%
755% 705% 502% 695% 579% 484%
10866% 9089% 6723% 3394% 3427% 2707%
287% 229% 107% 76% 51% 36%
-72% -81% -86% -89% -89% -89%
259% 210% 93% 65% 40% 24%
-100% -100% -100% -100% -100% -100%
-101% -106% -102% -100% -99% -104%
119% 91% 7% -20% -33% -36%
-95% -95% -97% -97% -98% -98%
-64% -66% -78% -76% -78% -81%
-89% -90% -93% -92% -93% -93%
-96% -96% -97% -96% -94% -93%
-78% -81% -88% -90% -92% -94%
-85% -85% -90% -92% -93% -96%
211% 172% 61% 36% 21% 7%
-81% -85% -83% -85% -91% -90%

Mar-2007
2.7
2.2
13.0
55.3
14.5
Mar-2007
1.7
3.0
6.5
Mar-2007
9%
2.40
22%
67%
62.9
Mar-2007
38%
17%
56%
7%
17%
96%
29%
35%
53%
14%
4%
6%
5%
4%
85%
Mar-2007
Mar-2007
5798%
1694%
291%
2085%
0%
-92%
-8%
-100%
-101%
-52%
-99%
-88%
-96%
-95%
-95%
-97%
-22%
-92%
1)
2)
3)
4)
5)
6)
7)
8)
9)
10)
11)
12)
Share Holders funds is being increase by approx. 10 percent every year. Which means company is rais
Mahindra & Mahindra Ltd.manufactures four, three wheeler as well as Tractors. The sale of tractors go
compared to last year sales.
Total sales were 36363 units in month of December, 2016. In month of December the domestic marke
company had sold 37,915 units in December 2015
The reason for the decline of sale can be demonetization for this particular month of december. But, t
Also the sale of Commercial vehicle were up 14 per cent to 14,154 units in December as against 12,4
Mahindra & Mahindra company is try to develop driverless tractors. If the concept will be successful th
Currently the market price of the share is INR 1,210.10 and if this concept will be successfull the price
Debt and Equity of the company are approximately equal which lead to debt-equity ratio 1.1. this is a
During 2014-2015, The Combined sales was 57027 of utility vehicles. In Q4 2017-2015 the domestic t
market the Combined Entity maintained its market leadership with a market share of 35.5%. The Com
corresponding quarter in the previous year.
Inventory Turnover ratio measures the effictiveness of companies manufacturing process. Here the ra
measured time period which is not good for company as inventory shold be reinvented to enhance sa
Return on asset is in decreasing trend which is surely a sign of trouble especially for the growing coma
well.
Profit after Tax of the Mahindra & Mahindra Ltd. also exhibits the picture of the company and indicates
decrease in profit after tax EPS has come down from Rs. 79 as on 3st march 2014 to to Rs. 54 on 31st
as on 3st march 2014 to to Rs. 54 on 31st march 2016.
From past years there is increse in the total debt of the company which does not exhibit good image o
debtors and failing to return them back which also exhibits companies lowering strength.

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Mahindra & Mahindra Ltd.

(Indian Rupee .in Crores) Balance Sheet

Year End Mar-2016 Mar-2015 Mar-2014

Share Capital 296 296 295

Share warrants & Outstandings 148 107 139

Reserve 28,175 25,454 22,873

Shareholder's Funds 28,620 25,856 23,307

Minority Interest 6,327 5,892 5,733

Secured Loans 19,143 14,418 16,949

Unsecured Loans 12,524 13,657 13,521

Total Debts 31,667 28,076 30,470

Total Liabilities 66,614 59,824 59,510

Net_Block 48,414 41,563 39,008

Less: Accumulated Depreciation 23,228 19,943 18,074

Less: Impairment of Assets 2,657 2,574 2,553

Lease Adjustment A/c - - -

Capital Work in Progress 2,436 3,032 2,191

Pre-operative Expenses pending - - -

Investments 39,436 34,675 29,952

Current Assets, Loans & Advances

Sundry Debtors (Debotrs) 6,419 5,476 5,725

Cash and Bank 4,906 4,912 6,523

Other Current Assets 1,140 969 921

Loans and Advances 20,018 17,812 15,842

Total Current Assets 43,112 37,622 37,364

Less : Current Liabilities and Provisions

Current Liabilities 37,747 31,371 25,060

Provisions 2,311 2,362 2,499

Total Current Liabilities 40,057 33,733 27,558

Net Current Assets 3,055 3,889 9,806

Miscellaneous Expenses not written off - - -

Deferred Tax Assets / Liabilities (843) (819) (820)

Total Assets 66,614 59,824 59,510

Contingent Liabilities 5,014 4,208 4,216

Mar-2013 Mar-2012 Mar-2011 Mar-2010 Mar-2009 Mar-2008

295 295 294 283 273 239

19,534 16,299 13,956 9,865 6,791 5,922

19,961 16,704 14,284 10,156 7,070 6,165

5,297 4,525 4,337 2,462 3,030 2,735

14,126 11,607 8,932 8,972 7,725 6,982

10,089 8,354 6,405 5,659 5,101 3,377

24,215 19,961 15,337 14,631 12,826 10,359

49,473 41,190 33,958 27,249 22,926 19,258

38,297 35,018 29,973 14,204 13,042 10,690

17,727 15,720 13,102 5,334 5,341 4,219

2,263 2,100 2,163 318 311 -

1,631 1,488 1,408 1,968 1,752 1,154

23,811 17,741 14,581 4,774 3,381 1,355

5,177 5,345 4,210 3,207 3,471 3,768

4,937 3,485 2,221 2,737 2,968 1,728

845 1,056 774 100 36 16

13,007 9,977 6,985 10,728 8,848 8,142

32,382 27,020 19,639 20,321 18,593 16,929

24,069 19,957 14,808 6,425 6,780 5,291

2,035 1,916 1,433 1,893 1,616 1,391

26,103 21,874 16,241 8,317 8,396 6,682

6,279 5,147 3,398 12,004 10,198 10,246

(555) (384) (137) (48) 188 18

49,473 41,190 33,958 27,249 22,926 19,258

3,652 3,598 2,980 2,251 1,799 1,343

(Indian Rupee .in Crores) Profit & Loss

Year End Mar-2016 Mar-2015 Mar-2014

Gross Sales 82,666 74,989 78,231