CURRENT RATIO: years Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 current assets

2,978.38 2,703.28 1,121.26 982.64 927.06 current liabilities ratio 6,420.48 5,345.56 2,153.61 1,982.39 1,834.51

0.46 0.51 0.52 0.50 0.51

Interpretation: The current ratio is 0.46 in the year 2012, 0.51 in the year 2011, 0.52 in the year 2010,0.5 in the year 2009,0.51 in the year 2008. The difference in the ratios in the year 2010 and 2012 are due to the increase in the current liabilities. Since low current ratio does not necessarily mean that the firm will go bankrupt, but it is definitely is not a good sign. Short term creditors prefer a high current ratio since it reduce their risk.
QUICK RATIO: years Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 quick assets 942.44 746.76 299.56 290.67 317.30 current liabilities 6,420.48 5,345.56 2,153.61 1,982.39 1,834.51 ratio 0.15 0.14 0.14 0.15 0.17

The acid-test ratio is far more forceful than the current ratio, primarily because the current ratio includes inventory assets which might not be able to turn to cash immediately. Companies with ratios of less than 1 cannot pay their current liabilities and should be looked at with extreme caution. Furthermore, if the acid-test ratio is much lower than the current ratio, it means current assets are highly dependent on inventory.

DEBT EQUITY RATIO: years Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 total liabilities shareholders equity ratio 16,667.95 12859.82 14,810.64 10666.04 6,213.17 4608.65 5,743.73 3602.1 4,437.49 2696.99

1.30 1.39 1.35 1.59 1.65

Interpretation:

This ratio is used to compare the amount of debt a company has with the amount the owners have invested in the company. It compares the amount of creditors claims to the owners claims to the assets of the firm. Trend shows that in 2008 the company was highly leverage but after it has managed to control this ratio in the year 2010 and 2011.

DEBT RATIO: years Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 total debt 3,808.13 4,144.60 1,604.52 2,141.63 1,740.50 total assets ratio 16,667.95 14,810.64 6,213.17 5,743.73 4,437.49

0.23 0.28 0.26 0.37 0.39

INTEREST COVERAGE RATIO: years Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 PBIT 3,575.22 2,074.10 1,712.27 1,495.55 1,588.94 INTEREST
223.86 287.91 124.11 134.09 81.93

ratio 15.97 7.20 13.80 11.15 19.39

INVENTOR TURNOVER: years Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 NET SALES
18,270.69 13,205.64 7,042.82 6,385.50 5,512.43

AVG INVENTORY
1223.18 1223.18 1223.18 1223.18 1223.18

ratio 14.94 10.80 5.76 5.22 4.51

ACCOUNTS RECEIVABLE TURNOVER RATIO: years Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 NET SALES
18,270.69 13,205.64 7,042.82 6,385.50 5,512.43

AVG SUNDRYDEBTORS
397.374 397.374 397.374 397.374 397.374

ratio 45.98 33.23 17.72 16.07 13.87

FIXED ASSETS TURNOVER RATIO: years Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 NET SALES
18,270.69 13,205.64 7,042.82 6,385.50 5,512.43

AVERAGE FIXED ASSETS

8520.21 8520.21 8520.21 8520.21 8520.21

ratio 2.14 1.55 0.83 0.75 0.65

A High fixed asset turnover ratio indicates the capability of the firm to earn maximum sales with the minimum investing in fixed assets. So it shows that the company is using its assets more efficiently. As it is shown in above the Company is using its assets specially fixed assets more efficiently each year. The company has shown constant increasing trend in its financial health in subsequent years.

TOTAL ASSETS TURNOVER RATIO: years Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 NET SALES
18,270.69 13,205.64 7,042.82 6,385.50 5,512.43

AVERAGE TOTAL ASSETS ratio 9574.596 9574.596 9574.596 9574.596 9574.596

1.91 1.38 0.74 0.67 0.58

In this formula current assets are balance sheet accounts that represent the value of all assets that are reasonably expected to be converted into cash within one year in the normal course of business. A higher current assets turnover ratio is more desirable since it shows the better financial position of company and better usage of these current assets. . The company has shown constant increasing trend in its financial health in subsequent years. It means the company is using its current assets more efficiently. The comparison between two ratios over the same period of time, also shows that company has used its current assets better than its fixed assets.
GROSS PROFIT MARGIN RATIO: years Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 GROSS PROFIT
4,253.92 2,551.92 1,976.24 1,684.46 1,744.24

NET SALES ratio 18,270.69 13,205.64 7,042.82 6,385.50 5,512.43

23.28 19.32 28.06 26.38 31.64

This ratio indicates the relation between production cost and sales and the efficiency with which goods are produced or purchased. If it has a very high gross profit ratio it may indicate that the organization is able to produce or purchase at a relatively lower cost. Gross profit is the profit we earn before we take off any administration costs, selling costs and so on. Here company has achieved very good efficiency in 2008 compared to other financial years.

NET PROFIT MARGIN RATIO: years Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 NET PROFIT
2,446.19 1,404.23 1,093.24 977.02 1,007.61

NET SALES ratio 18,270.69 13,205.64 7,042.82 6,385.50 5,512.43

13.38 10.63 15.52 15.30 18.27

RETURN ON ASSETS RATIO: years Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 NET PROFIT
2,446.19 1,404.23 1,093.24 977.02 1,007.61

AVERAGE TOTAL ASSETS ratio 9574.596 9574.596 9574.596 9574.596 9574.596

25.54 14.66 11.41 10.20 10.52

Because this ratio shows the profitability of investment in the firm so higher the ratio, the better is the return to the owners of the company.
RETURN ON CAPITAL EMPLOYED: years Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 EBIT
3,575.22 2,074.10 1,712.27 1,495.55 1,588.94

TOTAL ASSETS-CURRNT LIABILITIES ratio 10,247.47 9,465.08 4,059.56 3,761.34 2,602.98

34.88 21.91 42.17 39.76 61.04

A measure of the return that a company is realizing from its capital employed. The ratio can also be seen as representing the efficiency with which capital is being utilized to generate revenue. It is commonly used as a measure for comparing the performance between businesses and for assessing whether a business generates enough returns to pay for its cost of capital. Of course the higher the ratio, the better will be the profitability of the company.
RETURN ON EQUITY: years Mar '12 Mar '11 Mar '10 Mar '09 Mar '08 NETPROFIT-PRF DIVIDEND
2,446.19 1,404.23 1,093.24 977.02 1,007.61

NET WORTH 12,859.82 10,666.04 4,608.65 3,602.10 2,696.99

ratio 19.02 13.16 23.72 27.12 37.36

This ratio indicates the productivity of the owned funds employed in the firm. However, in judging the profitability of a firm, it should not be overlooked

that during inflationary periods. In the year 2008 the return on equity is more.
EARNING PER SHARE: EPS= NPA-PREFERENCE DIVIDEND/ NO. OF EQUITY SHARE
2012 Earning Per Share (Rs) 89.26 2011 51.24 2010 87.82 2009 78.48 2008 80.94

DIVIDEND PAY OUT RATIO: DPR RATIO=( DIVIDEND PER SHARE /EPS ) X 100

DPS EPS DPR

2012 8.00 89.26 8.962581

2011 6.00 51.24 11.7096

2010 6.00 87.82 6.832157

2009 5.00 78.48 6.37105

2008 5.00 80.94 6.177415

COMMONSIZE BALANC SHEET PARTICULARS RS. IN CRORES 274.07 12,585.75 2,012.09 1,796.04 16,667.95
2012 2011

Sources of Funds Equity Share Capital Reserves Secured Loans Unsecured Loans Total

change in % 1.64 75.5 12.07 10.78 100

RS. IN CRORES 274.04 10,392.00 2,789.76 1,354.84 14,810.64

change in % 1.85 70.16 18.83 9.15 100

Application of funds Net Block Work in Progress Investments Total CA, Loans & Advances Total CL & Provisions Total 11,634.82 3,163.02 3,788.77 4,501.82 6,420.48 16,667.95 69.8 18.98 22.73 27 38.52 100 11,400.25 1,105.32 3,730.32 3,920.31 5,345.56 14,810.64 76.97 7.46 25.19 26.47 36.09 100

PARTICULARS Sources of Funds RS. IN

2011 change in RS. IN

2010 change in

CRORES Equity Share Capital Reserves Secured Loans Unsecured Loans Total 274.04 10,392.00 2,789.76 1,354.84 14,810.64

% 1.85 70.16 18.83 9.15 100

CRORES 124.49 4,482.17 854.19 750.33 6,213.17

% 2 72.14 13.75 12.07 100

Application of funds Net Block Work in Progress Investments Total CA, Loans & Advances Total CL & Provisions Total 11,400.25 1,105.32 3,730.32 3,920.31 5,345.56 14,810.64 76.97 7.46 25.19 26.47 36.09 100 4,941.68 259.37 1,669.55 1,496.18 2,153.61 6,213.17 79.54 4.17 26.87 24.08 34.66 100

PARTICULARS RS. IN CRORES

2010 change in % 2 72.14 13.75 12.07 100 RS. IN CRORES

2009 change in % 2 60.15 20.47 16.82 100

Sources of Funds Equity Share Capital Reserves Secured Loans Unsecured Loans Total

124.49 4,482.17 854.19 750.33 6,213.17

124.49 3,475.93 1,175.80 965.83 5,743.73

Application of funds Net Block Work in Progress Investments Total CA, Loans & Advances Total CL & Provisions Total 4,941.68 259.37 1,669.55 1,496.18 2,153.61 6,213.17 79.54 4.17 26.87 24.08 34.66 100 4,635.69 677.28 1,034.80 1,378.35 1,982.39 5,743.73 80.71 11.79 18.01 23.99 3.51 100

PARTICULARS

2009 RS. IN CRORES 124.49 3,475.93 1,175.80 965.83 5,743.73 change in % 2 60.15 20.47 16.82 100

2008 RS. IN change in CRORES % 124.49 2,571.73 982.66 757.84 4,437.49 2.81 57.95 22.14 17.07 100

Sources of Funds Equity Share Capital Reserves Secured Loans Unsecured Loans Total

Application of funds Net Block Work in Progress Investments Total CA, Loans & Advances Total CL & Provisions Total 4,635.69 677.28 1,034.80 1,378.35 1,982.39 5,743.73 80.71 11.79 18.01 23.99 3.51 100 2,500.46 2,283.15 170.9 1,317.49 1,834.51 4,437.49 56.35 51.45 3.85 29.68 41.34 100

COMPARISON OF RATIOS: RATIOS DEBT EQUITY RATIO TOTAL ASSET TURNOVER RATIO NET PROFIT MARGIN RATIO (%) RETURN ON EQUITY RATIO (%) EARNING PER SHARE 2012 1.3 1.91 13 19 89.26 2011 1.39 1.38 11 13 51.24 2010 1.35 0.74 16 24 87.82 2009 1.59 0.67 15 27 78.48 2008 1.65 0.58 18 37 80.94

SUGGESTIONS
The present study of ULTRATECH PVT LTD Was conducted with the help of annual report. Various financial tools are used in the study from the ratio analysis it has been found out that the average collection period of the company is high and capital gearing is low. To extent possible the study has achieved its stated objectives. It is on the part of the company to accept the suggestions. ULTRATECH PROFITABILITY position was deteriorated year by year, liquidity position also moderate, long term solvency of the firm is also moderate due to high debts; the firms efficiency in utilizing assets is also very low. Finally the study helped me to acquire practical knowledge that was only over by books and papers alone. I take up this opportunity to thank one and all for making this study a complete one. ULTRATECH should reduce operating and administrative expenses, it will increase over all efficiency of the firm. A high level of debt introduces inflexibility in the firms operations due to increaseing interference and pressures from creditors. A high debt company is able to borrow funds on very restrictive terms and conditions. So, it should raise owners funds.