BALANCE SHEET

Fiscal Period

Dec'04

Dec'05

Dec'06

Dec'07

Dec'08

Dec'09

ASSETS
Cash And Cash Equivalents
Marketable Securities
Cash, Cash Equivalents,
Marketable Securities
Accounts Receivable
Inventories, Raw Materials &
Components
Inventories, Work In Process
Inventories, Inventories
Adjustments
Inventories, Finished Goods
Inventories, Other
Total Inventories
Other Current Assets
Total Current Assets

417
--

219
--

411
--

524
--

255
--

334
--

417

219

411

524

255

334

776

879

945

1,011

1,100

1,093

188

189

201

234

203

214

--

--

--

--

--

--

--

--

--

--

--

--

493
--

Land And Improvements

Buildings And Improvements
Machinery, Furniture,
Equipment
Construction In Progress
Gross Property, Plant and
Equipment
Accumulated Depreciation
Property, Plant and Equipment
Intangible Assets
Other Long Term Assets
Total Assets

528
--

623
--

690
--

694
--

696
--

681
247
2,122

717
382
2,197

824
247
2,427

924
243
2,702

897
269
2,521

910
221
2,558

78
1,505

76
1,459

78
1,521

86
1,614

94
1,579

106
1,750

4,751

4,692

4,992

5,249

5,112

5,383

160

237

327

354

319

291

6,494

6,464

6,918

7,303

7,104

7,530

-3,779
2,715
4,888
837
10,562

-3,816
2,648
4,893
837
10,575

-4,102
2,816
4,868
603
10,714

-4,313
2,990
4,965
740
11,397

-4,171
2,933
5,098
394
10,946

-4,520
3,010
5,101
531
11,200
1,077
33
764

LIABILITIES
Accounts Payable
Total Tax Payable
Other Accrued Expenses
Accounts Payable & Accrued
Expenses
Current Portion of Long-Term
Debt
DeferredTaxAndRevenue
Other Current Liabilities
Total Current Liabilities

726
322

746

801

694

1,135
51
637

1,048

1,629

1,711

1,775

1,823

1,874

1,029

1,195

1,991

1,955

1,388

45

--

883
--

--

-769
2,846

910
--

-339
3,163

1,081
--

-318
4,020

-314
4,044

-341
3,552

369
2,288

Long-Term Debt
Debt to Equity
Capital Lease Obligation
PensionAndRetirementBenefit

3,893
2.18
---

NonCurrent Deferred Liabilities

Other Long-Term Liabilities
Total Liabilities
Common Stock
Preferred Stock
Retained Earnings
Accumulated other
comprehensive income (loss)
Additional Paid-In Capital
Treasury Stock
Total Equity
Total Equity to Total Asset

3,703
2.14
---

3,053
2.44
---

3,270
2.07
---

4,068
3.77
--

4,835
2.15
--

631

430

959

946

619

647

300

425

607
8,305

479
8,291

953
8,645

910
8,871

947
9,498

950
8,928

105 --4,836

5,481

104
--

105
--

105
--

105
--

--

2,701

3,266

3,630

4,217

-108
2,257
0.21

59
-570
2,284
0.22

292
-912
2,069
0.19

388
-1,357
2,526
0.22

--

438
-1,790
1,448
0.13

472
-1,820
2,272
0.2

0.71

1.12

LIQUIDITY RATIO
Current Ratio

firm

0.75

industry

1.29

Quick Ratio
firm
industry

0.61

Absolute liquid ratio

firm
industry

0.51

0.15
0.08

0.69
1.47

0.47
0.77

0.07
0.16

0.60
1.49

0.40
0.80

0.10
0.28

0.67
1.88

1.72

0.44
1.11

0.46
1.20

0.13
0.52

0.07
0.64

1.51

0.72
1.00

0.15
0.54

SOLVENCY RATIO
Debt equity ratio
firm
industry

2.18
0.86

Net Worth to Total Asset Ratio

firm
0.65
industry
0.51

2.14

2.44

2.07

3.77

2.15

1.09

0.97

0.93

0.96

0.92

0.63
0.45

0.63
0.49

0.59
0.50

0.58
0.51

0.53
0.52

INCOME STATEMENT
Fiscal Period
Revenue
Cost of Goods Sold
Gross Profit
Gross Margin %
Selling, General, &Admin.
Expense
Advertising
Research &Development
EBITDA
Depreciation, Depletion and
Amortization
Other Operating Charges
Operating Income
Operating Margin %
Interest Income
Interest Expense

Dec'04
9,614
5,299
4,315
44.89

Dec'05
10,177
5,612
4,565
44.86

Dec'06
10,907
6,082
4,825
44.24

Dec'07
11,776
6,597
5,179
43.98

Dec'08
12,822
7,455
5,367
41.86

Dec'09
12,575
7,184
5,391
42.87

2,634

2,815

3,059

3,311

3,414

3,390

---

---

Preferred dividends
EPS (Basic)
EPS (Diluted)
Shares Outstanding (Diluted)

---

---

---

2,085

2,117

2,132

2,238

2,314

2,363

410

392

353

372

375

384

--

-1,681
17.49

--

-1,750
17.2

--309

Other Income (Minority Interest) -Pre-Tax Income

Tax Provision
Tax Rate %
Net Income (Continuing
Operations)
Net Income (Discontinued
Operations)
Net Income
Net Margin %

---

-1,766
16.19

--300

--

-1,868
15.86

--307

--

-1,953
15.23

--319

2,001
15.91
--

-308

-295

--

1,366
-475
34.8

1,425
-445
31.23

1,472
-467
31.73

1,547
-444
28.7

1,631
-485
29.74

1,684
-476
28.27

891

980

1,004

1,103

1,146

1,208

--

-891
9.26

--

-980
9.63

-2.16
2.14
416.4

-1,004
9.21

-2.38
2.36
415.3

-1,103
9.37

-2.53
2.51
400

-1,148
8.95

-2.79
2.76
400

1,212
9.64
--

3.01
2.99
385

3.17
3.16
384

PROFITABILITY RATIO
Gross profit ratio
industry
Operating Ratio
industry
Operating profit Ratio
industry

0.44

0.45

0.44

0.44

0.42

0.43

0.15

0.11

0.14

0.18

0.22

0.19

0.83

0.83

0.84

0.84

0.85

0.84

0.82

0.86

0.84

0.84

0.77

0.83

0.17

0.17

0.16

0.16

0.15

0.16

0.20

0.17

0.20

0.23

0.27

0.24

Net profit ratio

industry
ROI
industry
ROCE
industry

Dividends Per Share

Book Value Per Share ($)
Revenue per Share ($)
Dividend Yield ratio
Price earning ratio
Dividend payout ratio
leverage ratio
Debt equity ratio
industry
Interest coverage
industry

0.12

0.13

0.12

0.12

0.11

0.12

0.07

0.04

0.07

0.09

0.12

0.10

0.32

0.29

0.27

0.26

0.23

0.22

0.07

0.05

0.08

0.10

0.14

0.14

0.25

0.26

0.25

0.25

0.27

0.27

0.12

0.11

0.12

0.12

0.17

0.17

1.01
5.47
23.09
0.18
0.24
0.04

1.06
5.51
24.51
0.19
0.22
0.04

1.14
5.19
27.27
0.22
0.19
0.04

1.2
6.49
29.44
0.18
0.22
0.04

1.3
3.79
33.3
0.34
0.11
0.04

1.43
5.96
32.75
0.24
0.18
0.04

2.18

2.14

2.44

2.07

3.77

2.15

5.44

5.83

5.75

5.86

6.34

6.78

3.99

2.74

3.56

5.00

5.43

5.19

EFFICIENCY RATIOS
Inventory Turnover
Accounts receivable turnover
Accounts payable turnover
Total asset turnover

7.78
12.39
7.30
0.91

7.83
11.58
6.36
0.96

7.38
11.54
6.68
1.02

7.14
11.65
6.10
1.03

8.31
11.66
6.57
1.17

7.89
11.51
6.67
1.12

Financial performance
Cost of goods sold/net sales
Ad & selling cost/total income
Interest/total income
Debt-service ratio

EVA
Stock price
Total no. of shares
(Thousands)
Market value (crore)
Invested Capital

0.55
0.27
0.03
6.75
2681.19

0.55
0.28
0.03
7.06
2815.48

0.56
0.28
0.03
6.94
3024.54

0.56
0.28
0.03
7.02
3216.01

0.58
0.27
0.02
7.51
2666.79

0.57
0.27
0.02
8.01
2496.77

3811

2850

2280

2000

1850

893

324,60

324,60

324,60

324,60

324,60

324,60

MVA

12370.5
1005.84
11364.67

9251.1
808.11
8442.99

7400.88
699.6
6701.28

6492
603.05
5888.95

6005.1
534.64
5470.46

2898.68
440.04
2458.64

Stock price
Earnings Per Share
PE ratio
Price to book value

3811
88
43.13
12.33

2850
58
48.83
11.49

VALUATION RATIOS
2280
52
43.68
10.62

2000
43
46.7
10.81

1850
52
35.82
11.23

893
51
17.41
6.59

Price to sales
Price to cash flow

5.98
37.15

5.45
88.95

5.68
41.12

6.24
55.02

6.56
25.13

3.74
17.46

Dec'10

Dec'11

444
--

Dec'12

460
--

Dec'13

281
--

273
--

444

460

281

273

1,190

983

1,179

1,226

224

247

300

319

--

--

--

--

--

--

--

--

832
--

927
--

1,065
--

929
--

1,056
225
2,915

1,174
452
3,069

1,365
555
3,380

1,248
520
3,267

107
1,842

104
1,896

117
2,084

125
2,155

5,462

5,628

6,257

6,384

407

500

533

693

7,818

8,128

8,991

9,357

-4,690
3,128
5,084
720
11,847

-4,847
3,281
5,077
516
11,943

-5,209
3,782
7,397
610
15,169

-5,501
3,856
7,418
933
15,474

1,149
60
618

1,189
66
652

1,402
46
783

1,432
69
803

1,827

1,907

2,231

2,304

996

995

1,820

1,028

--

-361
3,184

-411
3,313

-472
4,523

503
3,835

4,908
2.74
--

5,037
3.36
--

6,082
3.29
--

6,330
2.08
--

265

748

1,167

345

697

643

523

928

635
9,689

406
10,147

470
12,765

491
11,929

---

105
--

105
--

105
--

6,122

5,305

5,615

6,749

495
-2,650
2,158
0.18

522
-3,130
1,796
0.15

573
-2,943
2,404
0.16

626
-2,999
3,545
0.23

0.92

0.93

0.75

0.85

2.34

0.58
1.79

0.14
0.56

2.74

1.93

0.57
1.36

0.14
0.79

3.36

1.57

0.45
1.00

0.06
0.49

3.29

1.57

0.53
1.04

0.07
0.47

2.08

0.72

0.77

0.81

0.84

0.60
0.58

0.59
0.57

0.79
0.55

0.72
0.54

T
Dec'10
12,397
7,055
5,342
43.09

Dec'11
13,198
8,046
5,152
39.04

Dec'12
14,197
8,763
5,434
38.28

Dec'13
14,792
8,689
6,103
41.26

3,305

3,725

3,872

3,266

---

---

---

---

2,430

1,786

2,034

3,373

392

369

448

532

--

-2,037
16.43

--

-1,427
10.81

--248

--233

-1,562
11

2,837
19.18
--

-261

-235

2 --

-1

1,790
-510
28.49

1,184
-320
27.03

1,325
-363
27.4

2,606
-792
30.39

1,280

864

961

1,808

--

-1,287
10.38

--

-866
6.56

-3.43
3.4
378

-961
6.77

-2.39
2.38
364

1,807
12.22
--

2.68
2.67
360

4.98
4.94
365

0.43

0.39

0.38

0.41

0.27

0.27

0.23

0.31

0.84

0.89

0.89

0.81

0.76

0.75

0.79

0.71

0.16

0.11

0.11

0.19

0.31

0.30

0.27

0.35

0.12

0.08

0.09

0.14

0.15

0.15

0.12

0.19

0.21

0.16

0.17

0.26

0.21

0.25

0.22

0.44

0.25

0.17

0.17

0.29

0.25

0.29

0.29

0.52

1.56
5.86
32.8
0.27
0.18
0.05

1.67
5.03
36.26
0.33
0.14
0.05

1.74
6.65
39.44
0.26
0.17
0.04

1.8
9.79
40.53
0.18
0.24
0.04

2.74

3.36

3.29

2.08

8.21

6.12

5.98

12.07

8.12

8.74

7.16

9.57

6.68
10.42
6.14
1.05

6.85
13.43
6.77
1.11

6.42
12.04
6.25
0.94

6.96
12.07
6.07
0.96

0.57
0.27
0.02
9.80

0.61
0.28
0.02
7.67

0.62
0.27
0.02
7.79

0.59
0.22
0.02
14.35

2591.32

3163.95

3578.53

3472.44

770

775

841

620

324,60

324,60

324,60

324,60

2515.65 2729.886
291.18
272.66
2224.47 2457.23

2012.52
225.68
1786.84

2499.42
346.64
2152.78

770
37
20.76
7.21

775
24
31.93
8.64

841
39
21.31
10.01

620
33
18.91
8.92

3.82
18.94

4.53
35.43

4.56
19.22

2.72
26.14