Bharti Airtel

Cash Flow

Net Profit Before Tax

Net Cash From
Operating Activities
Net Cash (used in)/from

------------------- in Rs. Cr. ------------------Mar '06

Mar '07

12 mths

12 mths

2285.8

4601.37

4547.2

8107.95

-5000.26

-7975.05

376.35

340.13

-76.71

473.03

384.14

307.43

307.43

780.46

Investing Activities
Net Cash (used in)/from
Financing Activities
Net
(decrease)/increase In
Cash and Cash
Equivalents
Opening Cash & Cash
Equivalents
Closing Cash & Cash
Equivalents

Bharti Airtel
------------------- in Rs. Cr. ------------------Mar '08

Mar '09

Mar '10

12 mths

12 mths

12 mths

6972.54

8161.54

10699.25

10459.85

11853.15

12692.63

-11648.41

-10894.38

-10601.66

898.03

-672

-2539.32

-290.53

286.77

-448.35

793.47

503.31

789.88

502.94

790.08

341.53

Profit & Loss account of Bharti Airtel

------------------- in Rs. Cr. ------------------Mar '06

Mar '07

Mar '08

Mar '09

Mar '10

12 mths

12 mths

12 mths

12 mths

12 mths

11,259.12

17,851.61

25,761.11

34,048.32

35,609.54

11,259.12

17,851.61

25,761.11

34,048.32

35,609.54

26.94

105.62

104.04

-1,261.75

1,118.46

-13.84

30.07

9.05

5.29

-34.91

Total Income

11,272.22

17,987.30

25,874.20

32,791.86

36,693.09

Expenditure
Raw Materials

53.56

52.16

42.9

286.94

278.72

734.2

1,076.95

1,297.88

1,397.54

1,401.66

3,299.73

5,017.27

7,339.01

8,627.13

11,882.41

2,804.85

4,030.48

5,892.50

9,385.68

6,856.42

314.37

444.28

535.46

1,409.89

1,482.39

Income
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments

Power & Fuel Cost

Employee Cost
Other Manufacturing
Expenses
Selling and Admin
Expenses
Miscellaneous Expenses
Preoperative Exp
Capitalised

-269.25

-293.31

7,206.71

10,621.14

15,107.75

20,837.93

21,608.29

Mar '06

Mar '07

Mar '08

Mar '09

Mar '10

12 mths

12 mths

12 mths

12 mths

12 mths

Operating Profit

4,038.57

7,260.54

10,662.41

13,215.68

13,966.34

PBDIT

4,065.51

7,366.16

10,766.45

11,953.93

15,084.80

236.81

282.07

393.43

434.16

283.35

PBDT

3,828.70

7,084.09

10,373.02

11,519.77

14,801.45

Depreciation

1,432.34

2,353.30

3,166.58

3,206.28

3,890.08

Total Expenses

Interest

Other Written Off

127.39

137.8

266.07

178.82

207.84

Profit Before Tax

2,268.97

4,592.99

6,940.37

8,134.67

10,703.53

17.64

9.92

-60.67

-46.15

-50.78

2,286.61

4,602.91

6,879.70

8,088.52

10,652.75

273.68

566.79

632.43

321.78

1,177.87

Extra-ordinary items
PBT (Post Extra-ord Items)
Tax
Reported Net Profit

2,012.08

4,033.23

6,244.19

7,743.84

9,426.15

Total Value Addition

7,153.15

10,568.98

15,064.84

20,551.00

21,329.56

Preference Dividend

Equity Dividend

379.65

379.79

Corporate Dividend Tax

64.52

64.55

Per share data (annualised)

Shares in issue (lakhs)
18,938.79

18,959.34

18,979.07

18,982.40

37,975.30

21.27

32.9

40.79

24.82

Earning Per Share (Rs)

10.62

Equity Dividend (%)

Book Value (Rs)

20

20

38.71

60.19

106.34

145.01

96.24

Key Financial Ratios of Bharti Airtel

------------------- in Rs. Cr. -------------------

Mar '06

Mar '07

Mar '08

Mar '09

10

10

10

10

--

--

--

Operating Profit Per Share (Rs)

Net Operating Profit Per Share
(Rs)

21.32

38.28

56.16

69.5

59.45

94.16

135.73

179.37

Free Reserves Per Share (Rs)

28.11

49.88

83.18

121.78

82.7

82.61

82.53

82.51

35.86

40.65

41.37

38.74

Investment Valuation Ratios

Face Value
Dividend Per Share

Bonus in Equity Capital

Profitability Ratios
Operating Profit Margin(%)
Profit Before Interest And Tax
Margin(%)

23.05

27.31

28.78

29.12

Gross Profit Margin(%)

23.14

27.47

29.08

29.33

Cash Profit Margin(%)

31.57

36.26

38.03

36.96

Adjusted Cash Margin(%)

31.57

36.26

38.03

36.96

Net Profit Margin(%)

17.8

22.46

23.99

22.58

Adjusted Net Profit Margin(%)

17.8

22.46

23.99

22.58

Return On Capital Employed(%)

20.74

29.06

27.95

28.4

Return On Net Worth(%)

27.47

35.35

30.94

28.13

Adjusted Return on Net Worth(%)

Return on Assets Excluding
Revaluations
Return on Assets Including
Revaluations

27.42

35.23

32.04

33.74

10.36

60.17

106.34

145.01

10.36

60.18

106.35

145.02

Return on Long Term Funds(%)

21.28

29.83

28.52

29.01

Liquidity And Solvency Ratios

Current Ratio

0.44

0.47

0.57

0.69

Quick Ratio

0.45

0.47

0.55

0.65

Debt Equity Ratio

0.65

0.47

0.33

0.28

Long Term Debt Equity Ratio

0.61

0.43

0.3

0.26

12.76

23.45

34.38

46.28

0.65

0.47

0.33

0.28

17.22

26.09

27.77

30.93

16.08

24.13

25.6

26.63

634.52

373.35

453.06

547.83

12.57

14.31

12.28

12.78

Investments Turnover Ratio

634.52

373.35

453.06

547.83

Fixed Assets Turnover Ratio

0.72

0.75

1.03

Total Assets Turnover Ratio

1.15

1.27

1.09

1.06

Debt Coverage Ratios

Interest Cover
Total Debt to Owners Fund
Financial Charges Coverage Ratio
Financial Charges Coverage Ratio
Post Tax
Management Efficiency Ratios
Inventory Turnover Ratio
Debtors Turnover Ratio

Asset Turnover Ratio

0.72

0.75

1.03

Average Raw Material Holding

--

--

--

--

Average Finished Goods Held

Number of Days In Working
Capital

0.74

1.36

1.18

0.98

-125.78

-113.65

-82.77

-42.3

0.47

0.29

0.16

0.84

--

--

--

--

7.14

6.3

7.15

6.49

11.33

8.82

5.31

--

--

--

5.73

Profit & Loss Account Ratios

Material Cost Composition
Imported Composition of Raw
Materials Consumed
Selling Distribution Cost
Composition
Expenses as Composition of Total
Sales
Cash Flow Indicator Ratios
Dividend Payout Ratio Net Profit
Dividend Payout Ratio Cash Profit
Earning Retention Ratio

--

--

--

3.99

100

100

100

95.22

Cash Earning Retention Ratio

100

100

100

96.5

AdjustedCash Flow Times

1.34

0.82

0.66

0.61

Mar '06

Mar '07

Mar '08

Mar '09

Earnings Per Share

10.62

21.27

32.9

40.79

Book Value

38.71

60.19

106.34

145.01

Airtel
---------

Mar '10

5
1
36.65
93.77
84.64
82.49
39.08
28.04
28.15
35.25
35.25
26.36
26.36
23.86
25.79
23.27
96.24
96.25
24.36
0.68
0.72
0.14
0.12
85.82
0.14
49.64
48.73
1,307.05
15.3
1,307.05
0.88
0.93

0.88
-0.41
-36.57
0.78
-6.75
5.03

4.71
3.28
94.78
96.48
0.4

Mar '10
24.82
96.24