Revenue from operations 22

Other income 23
1.Vehicles
2. Spare parts/componen
Total Income (I+II) 1.bank deposits
3. sale of scrap
2. income tax refund
4. Income from services
CAGR 3.receivables from dealer
4.gain on investments
Expenses 5.dividend from equity inv
Cost of materials consumed 24.1
% on total income
Purchases of stock-in-trade
% on total income
Changes in inventories of finished goods, work-in-progress an 24.2
% on total income
Excise duty 39
1.salaries and wages
Employee benefits expense 2.PF
25 costs
Interest
3.staff welfare expenses
1.cash credit and overdra
Finance costs 26
2.deposits from dealers,c
% on total income
Depreciation and amortisation expense 27
1.repair and maintenance
% on total income 2.insurance
3.marketing
Other expenses 28
4.rent
Vehicles / dies for own use 5.power and fuel

Total expenses (IV)

% on total income
Profit before tax (III - IV)
Tax expense
Current tax 29
Deferred tax 29
Total tax
% on total income
Profit for the period (V - VI)
% on total income
Other Comprehensive Income
A (i) Items that will not be reclassified to profit or loss
(a) gain / (loss) of defined benefit obligation 14.4
(b) gain / (loss) on change in fair value of equity
14.5
instruments
A (ii) Income tax relating to items that will not be
29.2
reclassified to profit or loss
B (i) Items that will be reclassified to profit or loss
(a) effective portion of gain / (loss) on hedging instruments
14.6
in a cash flow hedge
B (ii) Income tax relating to items that will be reclassified to
29.2
profit or loss
Total Other Comprehensive Income (A (i+ii)+B(i+ii))
Total Comprehensive Income for the period (VII +
VIII)
Earnings per equity share 31
Basic
Diluted

FINANCIAL PERFORMANCE RATIOS (%on Net sales)

PARAMETERS 2018-19
Material cost 72.4
Employee benefit expenses 3.9
Depreciation and amortisation 3.6
Other expenses 14
Profit before tax 12.6
Profit after tax 9
 For the Year ended For the Year ended For the Year ended
31.03.2016 31.03.2017 31.03.2018

650,546 772,662 819,944

1.Vehicles 14,610 23,001 20,455
2. Spare parts/components
1.bank deposits 665,156 795,663 840,399
3. sale of scrap
2. income tax refund
4. Income from services
3.receivables from dealers 19.6 8.1
4.gain on investments
5.dividend from equity investments
354,839 426,296 449,413
55 55 55
32,066 44,821 99,930
5 6 12
69 -3,801 407
0.01 -0.49
Introduction of GST
0.05
1.salaries and wages 75,165 92,314 -mowshika vani 22,317
2.PF 19,788 23,310 28,338 deposits from deale
Interest costs
3.staff welfare expenses
1.cash credit and overdrafts 434mil(2017) : 629m
2.deposits from dealers,contractors815 894 3,457
0.13 0.12 0.42 Interest on enhance
land 2,548 mil
28,202 26,021 27,579
1.repair and maintenance transportation and distribution expense- 16401mil
2.insurance 4.34 3.37 8717(inc)
(2019)- 3.36
3.marketing
4.rent 80,377 87,241 99,915
rent - 5333mil (2019) - 2019(inc)
5.power and fuel -602 power n fuel - 8617mil (
-1,036 -991
590,719 696,060 730,365
90.80 90.09 89.07
74,437 99,603 110,034

20,414 23,356 33,495

380 2,745 -679
20,794 26,101 32,816
3.20 3.38 4.00
53,643 73,502 77,218
 8.25 9.51 9.42

-99 -158 -196

99 2,361 3,470
- 2,203 3,274
44 61 39

40 -72 -2
40 -72
Net profit - 75006 mil / -2
no.of equity shares = 302mil
-14 25 1
70 2,217 3,312

53,713 75,719 80,530

177.58 243.32 255.62

177.58 243.32 255.62

%on Net sales)

CHANGE 2017-18 CHANGE

2.1 70.3 0.6
0.3 3.6 0.1
0.1 3.5 -0.4
1.2 12.8 -0.2
-1.5 14.1 -0.8
-0.9 9.9 -1.1
 For the Year ended HORIZONTAL
31.03.2019 2016 2017 2018 2019

860,203
25,610
885,813 19.62 5.62 5.40
10.0

450,239 20.14 5.42 0.18

52
150,195 39.78 ### 50.30
17
2,108
0.25
since GST was introduced, excise
duty became0nil. 22.82 -75.82 ###
-Ragu Ram
deposits from dealers,32,549
int. oncontractors,-
enhanced compensation for 17.80 21.57 14.86
434mil(2017) : 629mil(2018)
land - 2548mil(2018)
- 195(inc) : 9mil(2019)
758 9.69 ### -78.07
Interest on enhanced
Deposits
compensation
frm dealers
0.09 fordecrease -
land 2,548 mil124mil
30,189 -7.73 5.99 9.46
n expense- 16401mil
3.51
(inc) 116,340
-1,221
781,157 17.83 4.93 6.95
90.81
104,656

29,323
327
29,650 25.52 25.73 -9.65
3.45
75,006 37.02 5.06 -2.86
 8.72

-435
-1,745
-2,180
149

2
2
-1

248.3
248.3

2016-17
69.7
3.5
3.9
13
14.9
11
BALANCE SHEET

2015 2016 2017

ASSETS
Non-current assets
Property, plant and equipment 117,199 ### ###
% on total assets 33.24% 29.00% 25.33%
Capital work-in-progress 18,169 10,069 12,523
% on total assets 5.15% 2.40% 2.46%
Intangible assets 2,923 3,469 3,730
% on total assets 0.83% 0.83% 0.73%
Financial assets
Investments 106,554 ### ###
% on total assets 30.22% 45.01% 51.41%
Loans 6 4 3
Other financial assets 607 231 238
employee related loans and advances
Other non-current assets 16,446 16,782 16,031
% on total assets 4.66% 4.00% 3.14%
Total non-current assets 261,904 ### ###
% on total assets 74.3% 81.3% 83.1%
Current assets
Inventories 26,859 31,321 32,622
% on total assets 7.62% 7.47% 6.40%
Financial assets
Investments 32,960 10,568 20,137
% on total assets 9.35% 2.52% 3.95%
Trade receivables 11,157 13,222 11,992
% on total assets 3.16% 3.15% 2.35%
Cash and bank balances 183 391 131
Loans 21 31 25
Other financial assets 2,005 1,478 950
% on total assets 0.57% 0.35% 0.19%
Current tax assets (Net) 4,916 4,854 4,854
% on total assets 1.39% 1.16% 0.95%
Other current assets 12,609 16,595 15,388
% on total assets 3.58% 3.96% 3.02%
Total current assets 90,710 78,460 86,099
% on total assets 25.73% ### ###
Total assets 352,614 ### ###

EQUITY AND LIABILITIES

Equity
Equity share capital 1,510 1,510 1,510
Other equity 252,709 ### ###
Total Equity 254,219 ### ###
% on total equity and liabilities 72% 71% 71%
Liabilities
Non-current liabilities
Financial liabilities
Borrowings 1,448 - -
Provisions 203 148 219
Deferred tax liabilities (Net) 884 1,943 4,640
% on total liabilities 0.25% 0.46% 0.91%
Other non-current liabilities 6,248 8,075 11,050
% on total liabilities 1.77% 1.93% 2.17%
Total non-current liabilities 8,783 10,166 15,909
% on total equity and liabilities 2% 2% 3%
Current liabilities
Financial liabilities
Borrowings 354 774 4,836
% on total liabilities 0.10% 0.18% 0.95%
Trade payables
Total outstanding dues of micro enterprises 590 533 832
Total outstanding dues of creditors other t 56,217 73,540 82,841
% on total liabilities 15.94% 17.53% 16.25%
Other financial liabilities 11,309 11,971 13,027
% on total liabilities 3.21% 2.85% 2.55%
Provisions 4,089 3,989 4,490
% on total liabilities 1.16% 0.95% 0.88%
Current tax liabilities (Net) 7,311 7,956 8,036
% on total liabilities 2.07% 1.90% 1.58%
Other current liabilities 9,742 11,629 18,251
% on total liabilities 2.76% 2.77% 3.58%
Total current liabilities 89,612 ### ###
% on total equity and liabilities 25% 26% 26%
Total liabilities 98,395 ### ###
Total equity and liabilities 352,614 ### ###

RATIO ANALYSIS
PARAMETERS 2015 2016 2017
CURRENT RATIO 1.01 0.71 0.65
DEBTOR TURNOVER RATIO 53.37 61.29
INVENTORY TURNOVER RATIO 27.4

RETURN ON NET WORTH 18% 20%

DEBTORS DAYS 6.84 5.96
INVENTORY DAYS 13.3

2016 2017
Purchases 358970 422634
creditors 56807 74073 83673
CREDITORS TURNOVER RATIO 5.49 5.36
CREDITORS DAYS 66.54 68.12

WORKING CAPITAL -31,932 -46,214

WORKING CAPITAL RATIO -20.37 -16.72
WORKING CAPITAL DAY -48.84

Earnings per equity share

Basic 177.58 243.32
Diluted 177.58 243.32

DEBT EQUITY RATIO 0.40 0.41

Dividend Per Share (`) 35 75

DIVIDENT PAYOUT RATIO 19.71% 30.82%
The net pro
that Suzuk
Gujarat, en
` 35 per sh
2017
The net pro
that Suzuk
Gujarat, en
` 35 per sh
2017
 2018 2019

130,473 149,567
21.98% 23.77% Freehold land - 7016(inc) A part of f.land of te Cmpny
situated @ Gurugram, Manesar and Gujarat has been made
21,259 16,001 available to its group cmpnis / fellow subsidiary for their
3.58% 2.54% business purpose.
3,117 4,511
Buildings - 1926 (inc) Addition 3516cr
0.53% 0.72% Lumpsum royalty and engineering support fee - 1394(inc)
P&M - 9858 (inc) Gas turbine jointly owned by the Company
with its group companies
340,729 314,695
57.39% 50.01% non-current
2 2 reduced invstmnt in debt mutual funds - 24292cr

d advances
324 340
18,583 20,586 security deposits
3.13% 3.27%
514,487 505,702
86.7% 80.4%

31,608 33,257
5.32% 5.28% raw materials- 17658cr = 3240cr(inc)
WrkInPrgress - 2995cr = 1223cr(inc)
12,173 50,455 finished goods
Vechile - 5683cr = 4017cr (dec)
2.05% 8.02% spares 91crin(inc)
Investment debt mutual funds
14,618 23,104 Traded goods 18861
Vech. spares 3344cr = 510cr (inc)
2.46% 3.67% stores and spares
Unsecured = 1894cr
- considered = 419cr(inc)
good - 8486
711 1,789 The credit risk to the Company is limited since most of the
sales are made against advances or letter of credit/ bank
30 160 guarantees
Bal. in bank from banks
- 889mil of national
- 728mil (inc)standing
2,846 4,964 cheque and draft in hand - 880mil - 847mil (inc)
employee related loans and advances
0.48% 0.79% Recoverable frm related parties - 2244(inc)
4,109 4,274 Foreign currency contract not qualifiying in hedge A/C
0.69% 0.68% relationships- 72cr from 109cr

13,119 5,613
2.21% 0.89%
 79,214 123,616
13.34% 19.64%
593,701 629,318

1,510 1,510
416,063 459,905
417,573 461,415
70% 73%

265 395
5,589 5,640
0.94% 0.90%
15,853 20,365
2.67% 3.24%
21,707 26,400
4% 4%

1,108 1,496
0.19% 0.24%

711 682
104,259 95,648
17.56% 15.20%
13,338 14,400
2.25% 2.29%
5,600 6,244
0.94% 0.99%
8,541 6,729
1.44% 1.07%
20,864 16,304
3.51% 2.59%
154,421 141,503
 26% 22%
176,128 167,903
593,701 629,318

2018 2019
0.51 0.87
61.63 45.61
15.99 28.07 Decrease in debtor ratio is due to delay in trade receivables.
Return on net worth is lower this year d
op st - 13681
18% cl st - 16%
14418to lower net profit comparing to last year
5.92 8.00
22.8 13.0

2018 2019
453479 450150
96330 104970
5.04 4.47
72.44 81.61 compared to the previous years there is a decline in paying of
the creditors
-75,207 -17,887
-10.90 -48.09
-43.69 -60.60

255.62 248.3
255.62 248.3 Net profit - 75006 mil /
no.of equity shares = 302mil
0.42 0.36
lower D/E ratio indicates that investors are more than the
80 80 outside liabilities of the company.
31.30% 32.22%
The net profits increased by 37%. This, along with the fact
that Suzuki Japan is financing new capacity expansion in
Gujarat, enabled your Company to increase the dividend from
` 35 per share to ` 75 per share.
2017
The net profits increased by 37%. This, along with the fact
that Suzuki Japan is financing new capacity expansion in
Gujarat, enabled your Company to increase the dividend from
` 35 per share to ` 75 per share.
2017
mpny
en made
heir

94(inc)
Company

of the
bank

/C
eivables.

n paying of

an the
CASH FLOW STATEMENTS

PARTICULARS FOR THE YEAR ENDE

31.03.2016

CASH FLOW FROM OPERATING ACTIVITIES

Pofit before tax 74437
ADJUSTMENTS
Add 30370
Subtract -15494
Operating Profit before working capital changes 89313
Cash inflow 24511
cash outflow -9880
Cash generated from operating activities 103944
Income taxes paid (net) -19099
Net cash from operating activities 84845
% change over the years

CASH FLOW FROM INVESTMENTS

Cash inflow 74226
cash outflow -146500
Net cash from investments -72274
% change over the years

CASH FLOW FROM FINANCING ACTIVITIES

Cash inflow 774
cash outflow -13138
Net cash from financing activities -12364
% change over the years

Net change in cash & cash equivalents 207

Cash & cash equivalents at the beginning of the year 177
Cash & cash equivalents at the end of the year 384

CASH & CASH EQUIVALENTS

Cash and cheques in hand 15
Balance with banks 369
Total cash 384

ANALYSIS - OPERATING ACTIVITIES

cash inflow declined by 50.17% from 2018 to 2019
FOR THE YEAR ENDEFOR THE YEAR ENDE FOR THE YEAR ENDED
31.03.2017 31.03.2018 31.03.2019

99413 110034 104656

27547 31615 31563

-22880 -21307 -25663
104080 120342 110556
23568 33837 16858
-1628 -5779 -30054
126020 148400 97360
-23173 -30550 -31428
102847 117850 65932
21.22% 14.59% -44.05%

119226 426786 542893

-211041 -509607 -578276
-91815 -82821 -35383
-27.04% 9.80% 57.28%

4836 1108 1496

-16129 -35568 -30974
-11293 -34460 -29478
8.66% -205.14% 14.46%

-261 569 1071

384 130 699
123 699 1770

6 38 881
117 661 889
123 699 1770
R ENDED