DELTA CORP LTD SCREENER.

IN

Narration Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Trailing Best Case Worst Case
Sales 101.06 132.46 376.01 364.94 425.41 558.58 299.97 375.18 454.65 607.66 798.73 812.16 650.79
Expenses 60.11 86.34 188.43 264.37 335.35 433.60 236.91 254.55 293.79 361.36 - - -
Operating Profit 40.95 46.12 187.58 100.57 90.06 124.98 63.06 120.63 160.86 246.30 312.98 318.24 191.13
Other Income 8.25 11.15 5.98 12.69 18.39 42.04 6.02 12.41 9.15 29.67 35.56 - -
Depreciation 3.31 5.61 6.07 6.46 8.12 16.56 34.69 35.95 36.12 37.14 37.68 37.68 37.68
Interest 30.61 30.79 15.60 10.68 15.46 33.43 51.30 41.35 34.97 10.38 1.78 1.78 1.78
Profit before tax 15.28 20.87 171.89 96.12 84.88 117.04 -16.91 55.75 98.91 228.45 309.08 278.78 151.67
Tax 5.60 8.20 6.68 29.16 33.97 52.02 10.83 20.21 28.03 73.69 112.64 36% 36%
Net profit 6.60 12.11 165.71 50.05 29.34 35.31 -22.77 38.22 73.75 155.55 196.76 177.19 96.40
EPS 0.49 0.72 8.21 2.22 1.29 1.55 -0.99 1.66 3.18 5.81 7.26 6.54 3.56
Price to earning 75.59 51.95 10.93 29.60 46.84 64.74 -85.78 48.40 55.46 47.56 35.45 50.32 35.45
Price 36.81 37.64 89.72 65.67 60.57 100.46 84.68 80.20 176.58 276.48 257.45 329.10 126.13
83% 1268% -70% -41% 20% -164% -268% 93% 111% 26%
RATIOS:
Dividend Payout 41.06% 34.52% 3.65% 15.78% 19.33% 16.11% 0.00% 12.06% 11.00% 17.20%
OPM 40.52% 34.82% 49.89% 27.56% 21.17% 22.37% 21.02% 32.15% 35.38% 40.53% 39.18%

TRENDS: 10 YEARS 7 YEARS 5 YEARS 3 YEARS RECENT BEST WORST

Sales Growth 22.06% 7.10% 7.39% 26.53% 33.65% 33.65% 7.10%
OPM 31.96% 29.37% 31.18% 36.72% 39.18% 39.18% 29.37%
Price to Earning 46.65 46.86 50.32 46.72 35.45 50.32 35.45
DELTA CORP LTD SCREENER.IN

Narration Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19
Sales 103.57 108.13 128.62 145.29 162.17 171.58 187.28 201.35 205.81 204.29
Expenses 73.30 74.44 84.03 79.79 93.47 104.09 121.86 125.13 121.79 116.97
Operating Profit 30.27 33.69 44.59 65.50 68.70 67.49 65.42 76.22 84.02 87.32
Other Income 0.53 1.85 5.56 8.60 7.93 7.58 8.26 8.28 5.51 13.51
Depreciation 8.95 8.75 8.90 9.45 9.35 9.43 9.35 9.41 9.47 9.45
Interest 8.22 9.41 6.95 2.25 0.34 0.83 0.22 0.72 0.59 0.25
Profit before tax 13.63 17.38 34.30 62.40 66.94 64.81 64.11 74.37 79.47 91.13
Tax 3.99 6.42 12.66 19.38 22.51 19.14 22.45 26.65 29.12 34.42
Net profit 10.06 11.36 22.30 43.26 44.74 45.25 41.41 48.10 50.53 56.72

OPM 29% 31% 35% 45% 42% 39% 35% 38% 41% 43%

0.0440281935 0.1894941274 0.1296065931 0.1161814302 0.0580255288 0.0915025061 0.0751281504 0.0221504842 -0.0073854526

DELTA CORP LTD SCREENER.IN

Narration Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18
Cash from Operating Activity -38.12 46.11 46.19 47.32 284.71 227.79 83.84 117.20 130.90 228.50
Cash from Investing Activity 2.25 -44.60 -148.50 -334.96 -412.90 64.97 -24.98 -17.30 -64.97 -436.11
Cash from Financing Activity -35.20 29.01 120.29 356.02 41.90 -284.32 -92.93 -97.70 -58.92 301.10
Net Cash Flow -71.07 30.52 17.98 68.38 -86.29 8.44 -34.07 2.20 7.02 93.49
How to use it?
You can customize this workbook as you want.
You can add custom formating, add conditional formating, add your own formulas… do ANYTHING.
Please don't edit the "Data Sheet" only.

After customization, you can upload this back on Screener.

Upload on: https://www.screener.in/excel/

Download your customized workbooks now onwards.

Now whenever you will "Export to excel" from Screener, it will export your customized file.

TESTING:
This is a testing feature currently.
You can report any formula errors on the worksheet at: pranjal@finology.in
DELTA CORP LTD SCREENER.IN

Narration Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18
Equity Share Capital 13.55 16.72 20.18 22.56 22.69 22.76 23.07 23.07 23.16 26.76
Reserves 180.59 230.54 559.01 729.06 750.52 752.92 741.98 812.31 897.04 1,655.98
Borrowings 324.71 270.42 185.20 455.40 485.02 352.35 337.17 242.78 221.00 2.28
Other Liabilities 161.92 157.79 186.81 219.00 287.54 172.57 131.48 125.68 124.43 312.75
Total 680.77 675.47 951.20 1,426.02 1,545.77 1,300.60 1,233.70 1,203.84 1,265.63 1,997.77

Net Block 97.67 99.55 192.06 132.23 348.60 760.06 854.19 860.67 852.10 1,223.60
Capital Work in Progress 26.61 30.05 82.37 411.48 521.69 99.24 3.80 2.70 0.52 4.10
Investments 224.25 171.88 162.84 134.27 114.14 104.85 107.71 82.57 98.06 422.01
Other Assets 332.24 373.99 513.93 748.04 561.34 336.45 268.00 257.90 314.95 348.06
Total 680.77 675.47 951.20 1,426.02 1,545.77 1,300.60 1,233.70 1,203.84 1,265.63 1,997.77

Working Capital 170.32 216.20 327.12 529.04 273.80 163.88 136.52 132.22 190.52 35.31
Debtors 11.69 5.26 2.95 64.70 14.53 67.37 22.76 14.20 4.25 8.29
Inventory 234.47 188.08 249.28 317.34 236.61 71.72 69.54 70.76 69.53 70.49

Debtor Days 42.22 14.49 2.86 64.71 12.47 44.02 27.69 13.81 3.41 4.98
Inventory Turnover 0.43 0.70 1.51 1.15 1.80 7.79 4.31 5.30 6.54 8.62

Return on Equity 3% 5% 29% 7% 4% 5% -3% 5% 8% 9%

Return on Capital Emp 10% 29% 11% 8% 13% 3% 9% 12% 17%
SUMMARY OUTPUT

Regression Statistics
Multiple R 0.7274251969
R Square 0.529147417
Adjusted R Square -1.2857142857
Standard Error 102.4052365554
Observations 1

ANOVA
df SS MS F Significance F
Regression 9 82496.2283711 9166.247597 7.866648826 #NUM!
Residual 7 73407.8273178 10486.83247
Total 16 155904.055689

Coefficients Standard Error t Stat P-value Lower 95%

Intercept
36.811111
37.635714
89.715789
65.665
60.5675
100.455263
84.675
80.2 251.1971834887 62.9153554675 3.992621223 0.005238911 102.42600815
176.576316 1.3725559874 0.4893675715 2.804754682 0.026343658 0.2153855599
276.480952

RESIDUAL OUTPUT

Observation Predicted 101.06 Residuals

1 44734.958836089 -44602.498836
Upper 95% Lower 95.0% Upper 95.0%
-6.3201E+185 6.3E+185
-2.128E+267 5.2E+267
-3.435E+180 8.5E+180
-2.7703E+214 2.8E+214
-1.8139E+171 1.8E+171
0 0
1.49695E-306 1.7E-306
6.55345E-270 -2E-269
399.9683588 102.42600815 399.9684
2.529726415 0.2153855599 2.529726
COMPANY NAME DELTA CORP LTD
LATEST VERSION 2.10 PLEASE DO NOT MAKE ANY CHAN
CURRENT VERSION 2.10

META
Number of shares 27.09
Face Value 1
Current Price 257.45
Market Capitalization 6975.3

PROFIT & LOSS

Report Date Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14
Sales 101.06 132.46 376.01 364.94 425.41 558.58
Raw Material Cost 26.8 15.48 102.72 221.02 116.96 53.66
Change in Inventory 66.08 -81.38 -165.66
Power and Fuel 1.98 4.17 4.46 5.9 6.73 14.85
Other Mfr. Exp 1.72 12.74 3.32 4.02 7.04 11.2
Employee Cost 7.03 19.78 24.13 31.61 35.42 48.22
Selling and admin 18.79 31.3 47.05 58.47 66.79 100.76
Other Expenses 3.79 2.87 6.75 9.43 21.03 39.25
Other Income 8.25 11.15 5.98 12.69 18.39 42.04
Depreciation 3.31 5.61 6.07 6.46 8.12 16.56
Interest 30.61 30.79 15.6 10.68 15.46 33.43
Profit before tax 15.28 20.87 171.89 96.12 84.88 117.04
Tax 5.6 8.2 6.68 29.16 33.97 52.02
Net profit 6.6 12.11 165.71 50.05 29.34 35.31
Dividend Amount 2.71 4.18 6.05 7.9 5.67 5.69

Quarters
Report Date Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18
Sales 103.57 108.13 128.62 145.29 162.17 171.58
Expenses 73.3 74.44 84.03 79.79 93.47 104.09
Other Income 0.53 1.85 5.56 8.6 7.93 7.58
Depreciation 8.95 8.75 8.9 9.45 9.35 9.43
Interest 8.22 9.41 6.95 2.25 0.34 0.83
Profit before tax 13.63 17.38 34.3 62.4 66.94 64.81
Tax 3.99 6.42 12.66 19.38 22.51 19.14
Net profit 10.06 11.36 22.3 43.26 44.74 45.25
Operating Profit 30.27 33.69 44.59 65.5 68.7 67.49

BALANCE SHEET
Report Date Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14
Equity Share Capital 13.55 16.72 20.18 22.56 22.69 22.76
Reserves 180.59 230.54 559.01 729.06 750.52 752.92
Borrowings 324.71 270.42 185.2 455.4 485.02 352.35
Other Liabilities 161.92 157.79 186.81 219 287.54 172.57
Total 680.77 675.47 951.2 1426.02 1545.77 1300.6
Net Block 97.67 99.55 192.06 132.23 348.6 760.06
Capital Work in Progress 26.61 30.05 82.37 411.48 521.69 99.24
Investments 224.25 171.88 162.84 134.27 114.14 104.85
Other Assets 332.24 373.99 513.93 748.04 561.34 336.45
Total 680.77 675.47 951.2 1426.02 1545.77 1300.6
Receivables 11.69 5.26 2.95 64.7 14.53 67.37
Inventory 234.47 188.08 249.28 317.34 236.61 71.72
Cash & Bank 15.46 45.98 63.96 132.34 46.64 55.1
No. of Equity Shares 135528130 167161130 201808000 225592854 226900000 227576504
New Bonus Shares
Face value 1 1 1 1 1 1

CASH FLOW:
Report Date Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14
Cash from Operating Activity -38.12 46.11 46.19 47.32 284.71 227.79
Cash from Investing Activity 2.25 -44.6 -148.5 -334.96 -412.9 64.97
Cash from Financing Activity -35.2 29.01 120.29 356.02 41.9 -284.32
Net Cash Flow -71.07 30.52 17.98 68.38 -86.29 8.44

PRICE: 36.811111 37.635714 89.715789 65.665 60.5675 100.45526

DERIVED:
Adjusted Equity Shares in Cr 13.55 16.72 20.18 22.56 22.69 22.76
DO NOT MAKE ANY CHANGES TO THIS SHEET

101.06 132.46
36.811111 37.635714

Mar-15 Mar-16 Mar-17 Mar-18

299.97 375.18 454.65 607.66 475.00
20.46 27.28 26.34 30.97
-0.08 1.99 -0.02 0.75
23.06 20.75 20.9 22.64
18.78 18.12 22.06 23.68
52.57 58.96 63.92 94.34
105.23 120.18 147.61 175.31
16.73 11.25 12.94 15.17
6.02 12.41 9.15 29.67
34.69 35.95 36.12 37.14
51.3 41.35 34.97 10.38
-16.91 55.75 98.91 228.45
10.83 20.21 28.03 73.69
-22.77 38.22 73.75 155.55
52.76 4.61 8.11 26.76

Jun-18 Sep-18 Dec-18 Mar-19

187.28 201.35 205.81 204.29
121.86 125.13 121.79 116.97
8.26 8.28 5.51 13.51
9.35 9.41 9.47 9.45
0.22 0.72 0.59 0.25
64.11 74.37 79.47 91.13
22.45 26.65 29.12 34.42
41.41 48.1 50.53 56.72
65.42 76.22 84.02 87.32
 Mar-15 Mar-16 Mar-17 Mar-18
23.07 23.07 23.16 26.76
741.98 812.31 897.04 1655.98
337.17 242.78 221 2.28
131.48 125.68 124.43 312.75
1233.7 1203.84 1265.63 1997.77
854.19 860.67 852.1 1223.6
3.8 2.7 0.52 4.1
107.71 82.57 98.06 422.01
268 257.9 314.95 348.06
1233.7 1203.84 1265.63 1997.77
22.76 14.2 4.25 8.29
69.54 70.76 69.53 70.49
20.97 22.77 31.39 123.48
230664104 230664104 231624104 267590478

1 1 1 1

Mar-15 Mar-16 Mar-17 Mar-18

83.84 117.2 130.9 228.5
-24.98 -17.3 -64.97 -436.11
-92.93 -97.7 -58.92 301.1
-34.07 2.2 7.02 93.49

84.675 80.2 176.576316 276.480952

23.07 23.07 23.16 26.76

 376.01 364.94 425.41 558.58 299.97 375.18 454.65 607.66 475.00
89.715789 65.665 60.5675 100.45526 84.675 80.2 176.57632 276.48095
Company Name DELTA CORP LTD

Basic Details 31%

Report Date Mar-09 Mar-10
Sales 101.06 132.46
Operating Profit 40.95 46.12
OPM 40.52% 34.82%
Other Income 8.25 11.15
EBITDA 49.2 57.27
Net Profit 6.6 12.11
NPM 6.53% 9.14%
Debt 486.63 428.21
Cash + Investment 239.71 217.86
Enterprise value 7222.22 7185.65

Finology A

Ratios
Liquidity Measurement Ratios Mar-09 Mar-10
Current Ratio 2.05 2.37
Quick Ratio 0.60 1.18
Cash Ratio 1.48 1.38

Profitability Indicator Ratios Mar-09 Mar-10

Gross Profit Margin 69.82% 75.55%
Operating Profit Margin 40.52% 34.82%
Pretax Profit Margin 15.12% 15.76%
Net Profit Margin 6.53% 9.14%
Net Interest Margin
Effective Tax Rate 36.65% 39.29%
Return on Assets NA 1.79%
Return on Equity NA 5.49%
Return on Capital Employed 9.97%

Solvency Ratios Mar-09 Mar-10

Debt Ratio 0.71 0.63
Debt Equity Ratio 1.67 1.09
Capitalization Ratio 0.63 0.52
Interest Coverage Ratio 1.50 1.68
Cash Flow to debt Ratio -0.08 0.11

Operating Performance Ratio Mar-09 Mar-10

Fixed Asset Turnover 1.06 1.09
Other income to total income 0.01 0.02

Fund Management Ratios Mar-09 Mar-10

Receivables to sales ratio 0.12 0.04
Average collection period 42.22 14.49
Inventory Turnover 0.13 0.17
Asset Turnover 0.15 0.20
Capital or Investment Turnover 0.52 0.54
Days Inventory Outstanding 2,805.95 2,119.46

Other Computations
Market Calculations Mar-09 Mar-10
Earnings per share (EPS) 0.49 0.72
Price Earnings Ratio (PE) 75.59 51.95
Price to Book value Ratio 2.57 2.54
Enterprise value/EBITDA ratio 10.88 7.30
Dividend Payout Ratio 0.41 0.35
Price to sales ratio 4.82 5.82

Altman Z Score Mar-09 Mar-10

A = working capital / total assets 0.25 0.32
B = retained earnings / total assets 0.01 0.01
C = earnings before interest and tax / total assets 0.07 0.08
D = market value of equity / total liabilities 0.73 0.93
E = sales / total assets 0.73 0.93
Z-Score = 1.2A + 1.4B + 3.3C + 0.6D + 1.0E 1.70 2.14

DuPont Model Mar-09 Mar-10

Net Profit Margin (Profitability) 6.53% 9.14%
Asset turnover (Asset Utilization) 14.84% 19.61%
Leverage Multiplier (Leverage) NA 306.06%
ROE 0.97% 5.49%

Cashflows
Accounting Mar-09 Mar-10
Cashflow from operations -38.12 46.11
Cashflow from Investing 2.25 -44.60
Cashflow from Financing -35.20 29.01
-71.07 30.52
Valuation Mar-09 Mar-10
FCFF 26.90 28.92
FCFE 19.01 20.11
FCFF growth 5 years
FCFF growth 8 years

Growth Ratios 10Yr 7Yr

Sales Growth 19.65% 7.10%
OPM 32.54% 31.26%
PAT growth 37.16% -0.90%
Avg PE 34.53 27.22
EPS Growth 28% -5%
Dividend Growth 26% 24%

Special Ratios 10Yr

FCF/CFO 0.42
CFO/PAT 2.16
Sales Growth/Capex 0.34

User Input & C

EPS & PE Calculations User Input Cells

(est) CAGR in EPS over next 10 yrs 15% Input in %

(est) EPS after 10 years 23.52
current PE 47.56
(est) PE in 10th year 40.00 Input number
(est) Stock price 940.67
CMP (Current Market Price) 257.45
(est) CAGR return in 10 yrs 13.83%

Graphical A

Select Type of Ratios Solvency

Mar-09 Mar-10
Cash Flow to debt Ratio -0.08 0.11
Year on Change -237.46%

Cash Flow to
0.80

0.70

0.60

0.50
 Cash Flow to
0.80

0.70

0.60

0.50

0.40

0.30

0.20

0.10

0.00
Ja n-09 Jan-10 Jan-11 Jan-12 Jan-13
-0.10

-0.20

Year on C
500.00%

425.22%
400.00%

300.00%

200.00%

100.00%

15.31% 1
0.00%
Ja n-10 Ja n-11 Jan-12
-43.49% Ja n-13 J
-100.00%

-200.00%
-237.46%
-300.00%

Vertical Analysis

Common Size Pro

Report Date Mar/09 Mar/10
Sales 100.00% 100.00%
Raw Material Cost 26.52% 11.69%
Change in Inventory 0.00% 0.00%
Power and Fuel 1.96% 3.15%
Other Mfr. Exp 1.70% 9.62%
Employee Cost 6.96% 14.93%
Selling and admin 18.59% 23.63%
Other Expenses 3.75% 2.17%
Other Income 8.16% 8.42%
Depreciation 3.28% 4.24%
Interest 30.29% 23.24%
Profit before tax 15.12% 15.76%
Tax 5.54% 6.19%
Net profit 6.53% 9.14%
Dividend Amount 2.68% 3.16%

Common Size Ba
Report Date Mar-09 Mar-10
Equity Share Capital 1.99% 2.48%
Reserves 26.53% 34.13%
Borrowings 47.70% 40.03%
Other Liabilities 23.78% 23.36%
Total Liabilities 100.00% 100.00%
Net Block 14.35% 14.74%
Capital Work in Progress 3.91% 4.45%
Investments 32.94% 25.45%
Other Assets 48.80% 55.37%
Total Assets 100.00% 100.00%
Receivables 1.72% 0.78%
Inventory 34.44% 27.84%
Cash & Bank 2.27% 6.81%

Pitroski S
Mar-09 Mar-10
Profitability
1. Return on Assets 1 1
2. Operating Cash Flow 0 1
3. Change in Return of Assets (ROA) 0 0
4. Accruals 0 1
Leverage,Liquidity,Source of fund
5. Change in Leverage (long-term) ratio 0 1
6. Change in Current ratio 0 1
7. Change in the number of shares 0 1
Operating Efficiency
8. Change in Gross Margin 0 1
9. Change in Asset Turnover ratio 0 1

Pitroski F Score 1 8

Pitroski F score
It assigns a score between 0 to 9 based on a certain parameters.The
Pitroski F score helps in determing the current financial strength of
the company. A score of 8- 9 is considered as good.If the score is in
between 0-3 , it means the financial positon of the company is very
weak.
 Pitroski F score
It assigns a score between 0 to 9 based on a certain parameters.The
Pitroski F score helps in determing the current financial strength of
the company. A score of 8- 9 is considered as good.If the score is in
between 0-3 , it means the financial positon of the company is very
weak.

Self Sustainable
Report Date Mar-09 Mar-10
NFAT - 1.3432714735
NPM - 9.14%
Retention Ratio - 65.48%
Depreciation - 5.69%
SSGR - 2.35%

The sustainable growth rate (SGR) is a company’s maximum

growth rate in sales using internal financial resources, while
not having to increase debt or issue new equity.
If sustainable growth rate is consistently more than Sales
growth, it implies growth funded by additional debt or equity
dilution. Companies with higher self-sustainable growth rate
can grow without putting stress on their balance sheet
provided other fundamental things are good for the company.
 
 184% -3% 17% 31% -46%
Mar-11 Mar-12 Mar-13 Mar-14 Mar-15
376.01 364.94 425.41 558.58 299.97
187.58 100.57 90.06 124.98 63.06
49.89% 27.56% 21.17% 22.37% 21.02%
5.98 12.69 18.39 42.04 6.02
193.56 113.26 108.46 167.03 69.08
165.71 50.05 29.34 35.31 -22.77
44.07% 13.71% 6.90% 6.32% -7.59%
372.01 674.4 772.56 524.92 468.65
226.8 266.61 160.78 159.95 128.68
7120.51 7383.09 7587.08 7340.27 7315.27

Finology Analysis

Mar-11 Mar-12 Mar-13 Mar-14 Mar-15

2.75 3.42 1.95 1.95 2.04
1.42 1.97 1.13 1.53 1.51
1.21 1.22 0.56 0.93 0.98

Mar-11 Mar-12 Mar-13 Mar-14 Mar-15

70.61% 54.83% 50.14% 56.07% 79.20%
49.89% 27.56% 21.17% 22.37% 21.02%
45.71% 26.34% 19.95% 20.95% -5.64%
44.07% 13.71% 6.90% 6.32% -7.59%

3.89% 30.34% 40.02% 44.45% -64.04%

20.37% 4.21% 1.97% 2.48% -1.80%
40.10% 7.52% 3.85% 4.56% -2.96%
29.25% 10.83% 8.14% 12.61% 3.08%

Mar-11 Mar-12 Mar-13 Mar-14 Mar-15

0.39 0.47 0.50 0.40 0.38
0.32 0.61 0.63 0.45 0.44
0.24 0.38 0.39 0.31 0.31
12.02 10.00 6.49 4.50 0.67
0.12 0.07 0.37 0.43 0.18

Mar-11 Mar-12 Mar-13 Mar-14 Mar-15

0.67 1.10 0.47 0.23 0.22
0.04 0.06 0.05 0.04 0.04

Mar-11 Mar-12 Mar-13 Mar-14 Mar-15

0.01 0.18 0.03 0.12 0.08
2.86 64.71 12.47 44.02 27.69
0.44 0.94 0.21 -1.20 0.89
0.40 0.26 0.28 0.43 0.24
 0.65 0.49 0.55 0.72 0.39
823.41 389.97 1,750.00 NA 407.94

Mar-11 Mar-12 Mar-13 Mar-14 Mar-15

8.21 2.22 1.29 1.55 -0.99
10.93 29.60 46.84 64.74 -85.78
3.13 1.97 1.78 2.95 2.55
7.07 8.59 7.98 7.61 8.12
0.04 0.16 0.19 0.16 -2.32
14.08 10.20 8.47 13.32 10.43

Mar-11 Mar-12 Mar-13 Mar-14 Mar-15

0.34 0.37 0.18 0.13 0.11
0.17 0.03 0.02 0.02 -0.02
0.20 0.07 0.06 0.12 0.03
1.90 1.04 0.89 1.76 1.58
1.90 1.04 0.89 1.76 1.58
4.34 2.40 1.87 3.38 2.73

Mar-11 Mar-12 Mar-13 Mar-14 Mar-15

44.07% 13.71% 6.90% 6.32% -7.59%
39.53% 25.59% 27.52% 42.95% 24.31%
230.19% 214.31% 202.75% 167.94% 160.14%
40.10% 7.52% 3.85% 4.56% -2.96%

Mar-11 Mar-12 Mar-13 Mar-14 Mar-15

46.19 47.32 284.71 227.79 83.84
-148.50 -334.96 -412.90 64.97 -24.98
120.29 356.02 41.90 -284.32 -92.93
17.98 68.38 -86.29 8.44 -34.07
Mar-11 Mar-12 Mar-13 Mar-14 Mar-15
37.27 54.52 54.35 55.35 50.93
31.20 52.71 54.09 54.68 50.76
15.10% 13.87% 6.44%

5Yr 3Yr 1Yr

7.39% 26.53% 33.65%
28.77% 32.27% 37.96%
39.60% -289.74% 110.92%
29.54 16.41 51.51
35% -281% 83%
36% -20% 230%
 User Input & Calculations

DCF Calculations User Input Cells

initial free cash flow 34.24

year 1-5 6-10
FCF growth rate 2.00% 3.00%
nput number Discount rate 8.00%
terminal rate 5.00%
Shares (crores) 27.09
Debt 2.28

Year FCF Growth PV

1 34.92 2.00% 32.33
2 35.62 2.00% 30.54
3 36.33 2.00% 28.84
4 37.06 2.00% 27.24
5 37.80 2.00% 25.73
6 38.93 3.00% 24.54
7 40.10 3.00% 23.40
8 41.31 3.00% 22.32
9 42.54 3.00% 21.28
10 43.82 3.00% 20.30

Terminal year 46.01

PV 1-10 cash flows 256.51
Terminal value 710.41
Total PV of cash flows 966.92
Total shares 27.09
DCF 35.60

Graphical Analysis

Solvency Select Ratio Cash Flow to debt Ratio

Mar-11 Mar-12 Mar-13 Mar-14 Mar-15

0.12 0.07 0.37 0.43 0.18
15.31% -43.49% 425.22% 17.75% -58.77%

Cash Flow to debt Ratio

 Cash Flow to debt Ratio

an-12 Jan-13 Jan-14 Ja n-15 Ja n-16 Ja n-17

Year on Change

425.22%

77.80% 9

17.75% 19.14%
Jan-13 Ja n-14 Jan-15
-58.77% Ja n-16 Jan-17

Common Size Profit & Loss A/c

Mar/11 Mar/12 Mar/13 Mar/14 Mar/15
100.00% 100.00% 100.00% 100.00% 100.00%
27.32% 60.56% 27.49% 9.61% 6.82%
0.00% 18.11% -19.13% -29.66% -0.03%
1.19% 1.62% 1.58% 2.66% 7.69%
0.88% 1.10% 1.65% 2.01% 6.26%
6.42% 8.66% 8.33% 8.63% 17.53%
12.51% 16.02% 15.70% 18.04% 35.08%
 1.80% 2.58% 4.94% 7.03% 5.58%
1.59% 3.48% 4.32% 7.53% 2.01%
1.61% 1.77% 1.91% 2.96% 11.56%
4.15% 2.93% 3.63% 5.98% 17.10%
45.71% 26.34% 19.95% 20.95% -5.64%
1.78% 7.99% 7.99% 9.31% 3.61%
44.07% 13.71% 6.90% 6.32% -7.59%
1.61% 2.16% 1.33% 1.02% 17.59%

Common Size Balance Sheet

Mar-11 Mar-12 Mar-13 Mar-14 Mar-15
2.12% 1.58% 1.47% 1.75% 1.87%
58.77% 51.13% 48.55% 57.89% 60.14%
19.47% 31.94% 31.38% 27.09% 27.33%
19.64% 15.36% 18.60% 13.27% 10.66%
100.00% 100.00% 100.00% 100.00% 100.00%
20.19% 9.27% 22.55% 58.44% 69.24%
8.66% 28.86% 33.75% 7.63% 0.31%
17.12% 9.42% 7.38% 8.06% 8.73%
54.03% 52.46% 36.31% 25.87% 21.72%
100.00% 100.00% 100.00% 100.00% 100.00%
0.31% 4.54% 0.94% 5.18% 1.84%
26.21% 22.25% 15.31% 5.51% 5.64%
6.72% 9.28% 3.02% 4.24% 1.70%

Pitroski Score
Mar-11 Mar-12 Mar-13 Mar-14 Mar-15

1 1 1 1 0
1 1 1 1 1
1 0 0 1 0
0 0 1 1 1

1 0 0 1 1
1 1 0 0 1
1 1 1 1 1

0 0 0 1 1
1 0 1 1 0

7 4 5 8 6
 Self Sustainable Growth Rate
Mar-11 Mar-12 Mar-13 Mar-14 Mar-15
2.5788553205 2.2507015326 1.7694819375 1.0076669132 0.3716524702
44.07% 13.71% 6.90% 6.32% -7.59%
96.35% 84.22% 80.67% 83.89% 331.71%
4.16% 3.98% 3.38% 2.99% 4.30%
105.34% 22.01% 6.47% 2.36% -13.66%
Ratios Liquidity Solvency Profitability Operating Perfo
Liquidity Current Ratio Debt Ratio Gross Profit Margin Fixed Asset Turn
Solvency Quick Ratio Debt Equity Ratio Operating Profit Margin Other income to
Profitability Cash Ratio Capitalization Ratio Pretax Profit Margin
OperatingPerformance Interest Coverage Ratio Net Profit Margin
FundManagement Cash Flow to debt Ratio Net Interest Margin
Effective Tax Rate
Return on Assets
Return on Equity
Return on Capital Employed
 25% 21% 34%
Mar-16 Mar-17 Mar-18
375.18 454.65 607.66
120.63 160.86 246.30
32.15% 35.38% 40.53%
12.41 9.15 29.67
133.05 170 275.97
38.22 73.75 155.55
10.19% 16.22% 25.60%
368.46 345.43 315.03
105.34 129.45 545.49
7238.42 7191.28 6744.84

Mar-16 Mar-17 Mar-18

2.05 2.53 1.11
1.49 1.97 0.89
0.84 1.04 1.74

Mar-16 Mar-17 Mar-18

82.90% 84.75% 87.40%
32.15% 35.38% 40.53%
14.86% 21.76% 37.60%
10.19% 16.22% 25.60%

36.25% 28.34% 32.26%

3.14% 5.97% 9.53%
4.78% 8.40% 11.95%
8.91% 12.06% 16.90%

Mar-16 Mar-17 Mar-18

0.31 0.27 0.16
0.29 0.24 0.00
Cha
0.23 0.19 0.00
2.35 3.83 23.01 7.00

0.32 0.38 0.73 6.00

Mar-16 Mar-17 Mar-18 5.00 f(x) = 0.6874111803 exp( 0

R² = 0.6949961808
0.23 0.24 0.17
4.00
0.04 0.03 0.07
3.00
2.22
Mar-16 Mar-17 Mar-18
2.00
0.04 0.01 0.01 1.29
0.72
13.81 3.41 4.98 1.00
0.96 1.00 1.11
0.00
0.31 0.36 0.30 0 1 2 3
 1.29
1.00 0.72

0.00
0 1 2 3
0.45 0.49 0.36
379.03 366.32 329.69
0.72 2.22 1.29

Mar-16 Mar-17 Mar-18

1.66 3.18 5.81 6.841121
48.40 55.46 47.56 34.53
2.21 4.44 4.40
5.92 9.99 12.60 236.2187 186.457896024
0.12 0.11 0.17
9.19 19.87 36.22

Mar-16 Mar-17 Mar-18

0.11 0.15 0.02
0.03 0.05 0.06
0.08 0.11 0.12
1.54 3.23 3.70
1.54 3.23 3.70
2.90 5.77 6.43

Mar-16 Mar-17 Mar-18

10.19% 16.22% 25.60%
31.17% 35.92% 30.42%
150.44% 144.18% 153.50%
4.78% 8.40% 11.95%

Mar-16 Mar-17 Mar-18

117.20 130.90 228.50
-17.30 -64.97 -436.11
-97.70 -58.92 301.10
2.20 7.01 93.49
Mar-16 Mar-17 Mar-18
58.04 60.42 66.33
57.51 60.00 66.17
1.26% 2.14% 3.69%
10.09% 9.65% 7.47%
Mar-16 Mar-17 Mar-18
0.32 0.38 0.73
77.80% 19.14% 91.41%
 Jan-17 Jan-18

91.41%

19.14%
Jan-17 Ja n-18

Mar/16 Mar/17 Mar/18

100.00% 100.00% 100.00%
7.27% 5.79% 5.10%
0.53% 0.00% 0.12%
5.53% 4.60% 3.73%
4.83% 4.85% 3.90%
15.72% 14.06% 15.53%
32.03% 32.47% 28.85%
 3.00% 2.85% 2.50%
3.31% 2.01% 4.88%
9.58% 7.94% 6.11%
11.02% 7.69% 1.71%
14.86% 21.76% 37.60%
5.39% 6.17% 12.13%
10.19% 16.22% 25.60%
1.23% 1.78% 4.40%

Mar-16 Mar-17 Mar-18

1.92% 1.83% 1.34%
67.48% 70.88% 82.89%
20.17% 17.46% 0.11%
10.44% 9.83% 15.65%
100.00% 100.00% 100.00%
71.49% 67.33% 61.25%
0.22% 0.04% 0.21%
6.86% 7.75% 21.12%
21.42% 24.88% 17.42%
100.00% 100.00% 100.00%
1.18% 0.34% 0.41%
5.88% 5.49% 3.53%
1.89% 2.48% 6.18%

Mar-16 Mar-17 Mar-18

1 1 1
1 1 1
1 1 1
1 1 1

1 1 1
1 1 0
1 1 1

1 1 1
1 1 0

9 9 7
 Mar-16 Mar-17 Mar-18
0.437563416 0.530894399 0.585498868
10.19% 16.22% 25.60%
87.94% 89.00% 82.80%
4.19% 4.22% 3.58%
-0.27% 3.45% 8.83%
Fund Management Ratios
Receivables to sales ratio
Average collection period
Inventory Turnover
Asset Turnover
Capital or Investment Turnover
Days Inventory Outstanding
 Chart Title

5.81

f(x) = 0.6874111803 exp( 0.2577789782 x )

R² = 0.6949961808

3.18

2.22
1.55 1.66
1.29
0.72

1 2 3 4 5 6 7 8
 1.29
0.72

1 2 3 4 5 6 7 8

1.55 1.66 3.18 5.81