Symbol Date Close Price(JSL) Close Price(Nifty 50)

JSL 1-Apr-09 42.3 3060.35

JSL 4-May-09 60.25 3654
JSL 1-Jun-09 95.85 4529.9
JSL 1-Jul-09 77.6 4340.9
JSL 3-Aug-09 80.9 4711.4
JSL 1-Sep-09 78.55 4625.35
JSL 1-Oct-09 100.1 5083.4
JSL 3-Nov-09 90.15 4563.9
JSL 1-Dec-09 110.8 5122
JSL 4-Jan-10 126.55 5232.2
JSL 1-Feb-10 107.15 4899.7
JSL 2-Mar-10 103 5017
JSL 1-Apr-10 108.5 5290.5
JSL 3-May-10 121.05 5222.75
JSL 1-Jun-10 101.8 4970.2
JSL 1-Jul-10 100.7 5251.4
JSL 2-Aug-10 103.9 5431.65
JSL 1-Sep-10 107.6 5471.85
JSL 1-Oct-10 128.3 6143.4
JSL 1-Nov-10 121.9 6117.55
JSL 1-Dec-10 106.7 5960.9
JSL 3-Jan-11 110.05 6157.6
JSL 1-Feb-11 91.4 5417.2
JSL 1-Mar-11 88.15 5522.3
JSL 1-Apr-11 83.5 5826.05
JSL 2-May-11 89.25 5701.3
JSL 1-Jun-11 105.45 5550.35
JSL 1-Jul-11 98.6 5650.5
JSL 1-Aug-11 101.9 5456.55
JSL 2-Sep-11 94.85 5064.3
JSL 3-Oct-11 94.8 4751.3
JSL 1-Nov-11 93.2 5284.2
JSL 1-Dec-11 74.9 5062.6
JSL 2-Jan-12 72.65 4749.95
JSL 1-Feb-12 76.6 5361.65
JSL 1-Mar-12 77.35 5280.35
JSL 2-Apr-12 79.95 5317.9
JSL 2-May-12 80.15 5239.15
JSL 1-Jun-12 74 4841.6
JSL 2-Jul-12 72.45 5278.6
JSL 1-Aug-12 68.55 5240.5
JSL 3-Sep-12 70.65 5253.75
JSL 1-Oct-12 69.1 5718.8
JSL 1-Nov-12 66.8 5645.05
JSL 3-Dec-12 69.35 5870.95
JSL 1-Jan-13 70.85 5950.85
JSL 1-Feb-13 64.05 5998.9
JSL 1-Mar-13 55.4 5719.7
JSL 1-Apr-13 53.05 5704.4
JSL 2-May-13 59.25 5999.35
JSL 3-Jun-13 52.7 5939.3
JSL 1-Jul-13 48.95 5898.85
JSL 1-Aug-13 44 5727.85
JSL 2-Sep-13 39.1 5550.75
JSL 1-Oct-13 37.45 5780.05
JSL 1-Nov-13 39 6307.2
JSL 2-Dec-13 39.85 6217.85
JSL 1-Jan-14 39.3 6301.65
JSL 3-Feb-14 32.4 6001.8
JSL 3-Mar-14 32.15 6221.45
JSL 1-Apr-14 36.2 6721.05
JSL 2-May-14 37.75 6694.8
JSL 2-Jun-14 50.4 7362.5
JSL 1-Jul-14 61.15 7634.7
JSL 1-Aug-14 48.25 7602.6
JSL 1-Sep-14 45.5 8027.7
JSL 1-Oct-14 36.4 7945.55
JSL 3-Nov-14 34.5 8324.15
JSL 1-Dec-14 30.55 8555.9
JSL 1-Jan-15 41.7 8284
JSL 2-Feb-15 33.65 8797.4
JSL 2-Mar-15 34 8956.75
JSL 1-Apr-15 35.1 8586.25
JSL 4-May-15 37.6 8331.95
JSL 1-Jun-15 42.2 8433.4
JSL 1-Jul-15 38.55 8453.05
JSL 3-Aug-15 42.05 8543.05
JSL 1-Sep-15 36.05 7785.85
JSL 1-Oct-15 37.7 7950.9
JSL 2-Nov-15 49.35 8050.8
JSL 1-Dec-15 23.3 7954.9
JSL 1-Jan-16 28.5 7963.2
JSL 1-Feb-16 22.7 7555.95
JSL 1-Mar-16 18 7222.3
JSL 1-Apr-16 16.9 7713.05
JSL 2-May-16 16.85 7805.9
JSL 1-Jun-16 14.85 8179.95
JSL 1-Jul-16 15.85 8328.35
JSL 1-Aug-16 23.25 8636.55
JSL 1-Sep-16 23.4 8774.65
JSL 3-Oct-16 25 8738.1
JSL 1-Nov-16 40.85 8626.25
JSL 1-Dec-16 35.8 8192.9
JSL 2-Jan-17 38.8 8179.5
JSL 1-Feb-17 49.95 8716.4
JSL 1-Mar-17 59.15 8945.8
JSL 3-Apr-17 77.3 9237.85
JSL 2-May-17 72.05 9313.8
JSL 1-Jun-17 73.1 9616.1
JSL 3-Jul-17 71.5 9615
JSL 1-Aug-17 88.75 10114.65
JSL 1-Sep-17 99.35 9974.4
JSL 3-Oct-17 111.75 9859.5
JSL 1-Nov-17 119 10440.5
JSL 1-Dec-17 108.85 10121.8
JSL 1-Jan-18 105.75 10435.55
JSL 1-Feb-18 109.35 11016.9
JSL 1-Mar-18 100.2 10458.35
JSL 28-Mar-18 78.55 10113.7

CALCULATION OF WEIGHTED AVERAGE COST OF CAPITAL

SHARES ISSUED: NUMBERS Per Value
EQUITY SHARES 605,000,000 2
PREFERENCE SHARES 170,000,000 2
total=
SHARES SUBSCRIBED:
EQUITY SHARES 479,221,660 2
PREFERENCE SHARES 0 2

NON CURRENT SECURED BORROWINGS

DEBENTURES:
Redeemable non convertible debentures
TERM LOANS
RUPEE TERM LOANS
 FOREIGN CURRENCY TERM LOANS

FROM OTHERS
(NONBANKING FINANCIAL FIRMS)
RUPEE TERM LOAN

FUNDED INTEREST TERM LOANS:

FROM BANK
TOTAL-SECURED=
UNSECURED:
0.01% Optionally Convertible Redeemable
preference shares(note-14)
Inter Corporate deposits from related party
TOTAL- UNSECURED=
TOTAL-NON CURRENT BORROWINGS

TOTAL FINANCIAL COST

RETAINED EARNING

ACTUAL CALCULATIONS NUMERATOR DENOMINATOR

1 RETURN/DEBT(Kd)( IN %) 540.63 3550.9
2 RETURN/EQUITY(Ke)( IN %)
3 TAX(IN %)
4 DEBT/(DEBT+EQUITY)
5 EQUITY/(DEBT+EQUITY)

FORMULA FOR CALCULATING WEIGHTED AVERAGE COST OF CAPITAL

WACC= (E÷(E+D))*Ke+(D÷(E+D))*Kd*(1-T)
WACC(%)= 13.175
Expected Return_JSL Expected Return_Nifty

0.1536166839 0.0769974452
0.201635066 0.0933200718
-0.091730396 -0.0185088336
0.0180868004 0.0355701964
-0.0128023322 -0.0080053762
0.1052878881 0.0410096832
-0.0454683464 -0.0468181646
0.0895740293 0.0501034541
0.0577223891 0.0092447623
-0.0722699741 -0.0285148467
-0.0171549507 0.0102746113
0.0225925135 0.0230526177
0.0475350556 -0.005597481
-0.0752170158 -0.0215253727
-0.0047183074 0.0239012348
0.013586077 0.0146566777
0.0151967238 0.0032024061
0.076414385 0.0502746098
-0.0222229508 -0.0018312658
-0.0578392862 -0.0112656914
0.0134256275 0.0140996374
-0.0806438512 -0.0556366038
-0.0157238791 0.0083451263
-0.0235358412 0.0232542114
0.0289217493 -0.0094003135
0.0724383593 -0.0116535238
-0.0291696691 0.0077665091
0.0142972691 -0.0151687401
-0.0311368488 -0.0323987145
-0.0002289979 -0.0277069717
-0.007392425 0.0461667938
-0.0949340947 -0.0186056319
-0.0132461991 -0.0276845767
0.022993151 0.0526094224
0.0042315484 -0.0066357505
0.01435815 0.0030774564
0.0010850586 -0.0064793337
-0.034671807 -0.0342719264
-0.0091933299 0.0375298471
-0.0240309307 -0.0031460281
0.0131047071 0.0010966777
-0.0096341188 0.0368355055
-0.0147015849 -0.0056371155
0.0162700029 0.0170405888
0.0092933892 0.0058706216
-0.0438207205 0.0034926191
-0.0630093694 -0.0206983719
-0.0188243765 -0.0011632793
0.0480029664 0.0218942281
-0.0508777395 -0.0043689368
-0.0320579191 -0.0029679097
-0.0463000197 -0.0127757166
-0.0512759191 -0.0136399686
-0.0187249354 0.0175799277
0.017612785 0.0379050073
0.0093637187 -0.0061963617
-0.0060357754 0.0058140375
-0.0838475402 -0.0211727592
-0.0033640329 0.015610096
0.0515275933 0.0335455111
0.0182083854 -0.0016995188
0.1255135805 0.0412877003
0.0839659249 0.0157666686
-0.1028991437 -0.0018298351
-0.025485921 0.023628993
-0.096910013 -0.0044671693
-0.0232822886 0.0202159326
-0.0528078805 0.0119258024
0.1351248404 -0.0140256097
-0.0931509864 0.0261142487
0.0044938485 0.0077961135
0.0138281994 -0.018346923
0.0298807285 -0.0130568743
0.050124606 0.0052560445
-0.0392880686 0.0010107382
0.0377416177 0.0045995103
-0.0668607311 -0.0403069157
0.0194360812 0.0091102588
0.1169458068 0.0054227466
-0.325931236 -0.0052043134
0.087488939 0.0004528988
-0.0988190028 -0.022798548
-0.1007533521 -0.0196135512
-0.0273858005 0.0285506225
-0.0012867994 0.0051968366
-0.0548734516 0.0203276657
 0.0283028129 0.0078083191
0.1663936907 0.0157813235
0.0027929002 0.0068895109
0.0287241513 -0.001812792
0.2132520522 -0.0055949701
-0.0573090342 -0.0223843864
0.034948699 -0.0007108973
0.109703767 0.0276103953
0.0734192564 0.0112820325
0.116224745 0.0139517216
-0.0305455088 0.0035560018
0.0062833918 0.0138720631
-0.0096113352 -4.9682434246082E-05
0.0938623199 0.0220015708
0.0489995097 -0.0060640788
0.0510796604 -0.0050318893
0.0272994296 0.0248664064
-0.038718528 -0.013463546
-0.0125480573 0.0132575916
0.0145384113 0.0235440641
-0.0379510658 -0.0225962355
-0.1057215322 -0.0145531047

Beta= 1.460
Rf= 7.5%
Rm= 13.5%
Ke= 16.26%

OST OF CAPITAL
BV(RUPEES) MV(RUPEES/ CRORE)
1210000000
340000000
1550000000

958443320 37642861393 28-Mar-18 page-214

0 0
TOTAL(Cr)= 3764.2861393

138.48

1,198.54
 476.63

202.77

27.98
2044.4 page-218

606.5
900
1506.5
3550.9 PAGE-218

540.63 page-156
1,221.68 PAGE-217

15.225
16.260
34.944 PAGE-175
0.485
0.515

COST OF CAPITAL
))*Ke+(D÷(E+D))*Kd*(1-T)
 ACTUAL CALCULATIONS NUMERATOR DENOMINATOR %
1 RETURN/DEBT
2 RETURN/EQUITY
3 TAX/NIBT
4 DEBT/(DEBT+EQUITY)
5 EQUITY/(DEBT+EQUITY)

INCOME STATEMENT BALANCE SHEET

NET SALES 10784.55 PAGE-154 CURRENT ASSET
LESS:TOTAL EXPENDITURE 9503.62 NON CURRENT ASSETS
GROSS PROFIT 1280.93 TOTAL ASSET

OPERATING EXPENSES
OPERATING INCOME CURRENT LIABILITIES

NON OPERATING INCOME NONCURRENT LIABILITIES

NET INCOME BEFORE TAX TOTAL LIABILITIES

TAX EXPENSES COMMON EQUITY

NET INCOME AFTER TAX PREFERENCE EQUITY

RETAINED EARNINGS

TOTAL EQUITY
TOTAL DEBT AND EQUITY
TPTAL INCOME
Sales Turnover 10963.67 PAGE-154
LESS:Excise Duty 179.12
NET SALES 10784.55

PAGE-155

EXPENDITURE
Manufacturing
2,091.67
Expenses
Material Consumed 6647.17

Personal Expenses 136.97

Selling Expenses 264.61

Administrative
125.86
Expenses
Expenses
0
Capitalised
Provisions Made 0
TOTAL
9503.62
EXPENDITURE