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Revenue
Gross Revenue from operations 651,055 773,164
Costs
Raw Materials - - 354,833 426,279
Purchases - - 32,179 44,936
Changes in Stock in Trade - - 48 -3,793
Employee Cost - - 20,003 23,603
Other Expenses - - 80,542 87,280
Own Use Vehicles -602 -1,036
Sources of Funds
Shareholder Funds
Share Capital - 1,510 1,510
Reserves & Surplus - 304,650 369,241
Money Received against Warrants - - -
Current Liabilities
Tax Liabilities 7,956 8,036
Short Term Borrowings - 774 4,836
Trade Payables - 74,089 83,692
Other Current Liabilities - 11,650 18,278
Short Term Provisions - 3,994 4,498
Other Finance Liabilities 11,978 13028
Total - - 427,255 519,605
Application Of Funds
Check 0 0 0 0
Vertical Analysis
2014 2015 2016 2017
Profitability
OPM Operating Profit / Net Sales #DIV/0! #DIV/0!
NPM Net Profit / Net Sales #DIV/0! #DIV/0!
Return Ratios
ROE Net Profit / Total Shareholder Equity #DIV/0!
ROA EBIT / Total Assets #DIV/0!
ROCE EBIT / (Shareholder Equity + Debt) #DIV/0!
Stability Ratios
Debt / Equity Long Term Debt / Equity #DIV/0!
Interest Coverage EBIT / Interest #DIV/0!
Solvency Ratio
Current Ratio Current Assets / Current Liabilities #DIV/0!
Quick Ratio (Current Assets - Inventory) / Current Liabilities #DIV/0!
Turnover Ratios
Receivable Turnover ratio Sales / Receivables #DIV/0!
Inventory Turnover Ratio Sales / Inventory #DIV/0!
Payable Turnover Ratio Sales / Payables #DIV/0!
Dupont Analysis
ROE #DIV/0!
NPM #DIV/0!
Asset Turnover Net Sales / Total Assets #DIV/0!
Assets / Equity Total Assets / Shareholder Equity #DIV/0!
Miscellaneous expenditure not written off and Accumulated Losses- Both Miscellaneous expenditure not written off and Accumulated Loss
Revaluation Reserves- Revaluation reserves arise out of revaluation of fixed assets and are not treated as a part of the tangible networth of
Treatment of Deferred Tax - DTL/A is the timing difference between the accounting profit and profit as per income tax act. As this differenc
computation of the tangible networth of the entity.
Redeemable Preference Shares- Preference shares have a fixed tenure at the end of which they have to be redeemed by the issuer. Further
Compulsorily Convertible Instruments- Sometimes the instrument could be compulsorily convertible into equity at the end of a long time f
at the end of the tenure and as such there is no credit risk. In all such cases where the terms of the preference shares/ debentures give it e
2016 2017
15.4% 15.2%
9.5% 11.0%
18.0% 20.3%
17.7% 19.3%
18.5% 20.2%
0.03 0.03
#DIV/0! 92.38
0.68 0.54
0.34 0.25
44.63 58.52
18.86 21.56
7.97 8.41
18.0% 17.9%
9.5% 9.50%
1.35 1.35
1.40 1.40
8.18 6.24
19.36 16.93
45.78 43.41
-18.25 -20.24
82.55% 82.18%
60.07% 60.57%
5.45% 6.39%
0.01% -0.54%
3.39% 3.35%
13.64% 12.40%
0.08 0.10
Usually impotant when you have large non fund based liability
6.71 4.31
6.70 4.38
Tangible Networth of the entity includes the equity share capital, all reserves
and surplus (excluding revaluation reserve), unsecured loans from promoters
which are subordinated to the outside loans, equity share warrants, share
application money, ESOPs outstanding, minority interest (in case of
consolidated financials).
written off and Accumulated Losses are deducted from the above to arrive at the tangible networth.
income tax act. As this difference is expected to reverse in the future, we need to exclude the same from the
redeemed by the issuer. Further, they also carry a fixed rate of dividend.
quity at the end of a long time frame, say 5-7 years. Hence, the company does not have to redeem the instrument
nce shares/ debentures give it equity like characteristics.
FinShiksha
Supreme Infra KNR Const
Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-13 Mar-14 Mar-15
Sales 2333 2571 1814 1290 1161 692 835 876
Growth 10.19% -29.43% -28.90% -9.97% 20.61% 4.95%
Country Risk
Political Stability
Legal System
Interest Rate Stability Score from 1 to 10 and 10 being
Inflation Stability
Strength of Fin Market
Country Credit History
Business
Business Quality (Moat Basically) Low - Medium - High - Very
Diversification in Business Low - Medium - High - Very
Market Leader Low - Medium - High - Very
Size Low - Medium - High - Very
Concentration in Clients Low - Medium - High - Very
An extremely cyclical firm such as an airline m
Cyclicity stable utility may receive
Finance
Growth >20% Excellent, >15% Good, >10% Average
Profitability >20% Excellent, >15% Good, >10% Average
Leverage
Coverage
Turnover
Liquidity
Revenue Rcognition
Outstanding Balance
Accrued Interest
Amount Paid if any
Mentioned in Internal Credit Note. Once th
Borrower Entity factors will be checked aga
Guarantor, Co-Borrower
Nature of Business
Previous Rating
Cash Flows
Cash Generation PAT>CFO Analy
Growth Funding SSGR
Management
Execution Ability Those firms for which our view of manageme
Modestly positive or negative views result in
Corporate Strategy while a scores of 5 or 1 are reserved for extrem
Salary treatment.
Risk Taking Ability
from 1 to 10 and 10 being best, 1 being worst
ernal Credit Note. Once the rating is issued all the above
factors will be checked again and again
PAT>CFO Analysis
SSGR