Auto Stock price change with respect to Interest rates and Corporate Tax

2014 Projection for changes

Rs in Crores
PBDIT 5,918.80 6,629.06
Interest 175.9 167.4745
PBDT 5,742.90 6,461.58
Depreciation 2,084.40 2,084.40
Profit Before Tax 3,658.50 4,377.18
Tax 875.5 1313.154
Reported Net Profit 2,783.00 3,064.03
Shares in Issue in lakhs 3,020.80 3,020.80
EPS 92.13 101.43
MPS 1970 2168.93
PE ratio 21.38

Considering PE Ratio remains constant the New target

price for Maruti will be
2168.93
 2014 Please Enter
Expected growth in PBDIT 12%

Debt 1,685.10 1,685.10

Interest % 10.4385496 9.93855

Change in interest rate 0.5

Tax 24 30

MPS on 1/4/14 1970

Maruti Suzuki India
---------------
---- in Rs.
Standalone Profit & Loss account Cr.
---------------
----
Mar '16 Mar '15 Mar '14 Mar '13 Mar '12

12 mths 12 mths 12 mths 12 mths 12 mths

Income
Sales Turnover 65,262.80 55,133.60 48,878.60 49,090.00 39,495.30
Excise Duty 7,516.50 5,163.00 5,178.00 5,502.10 3,908.20
Net Sales 57,746.30 49,970.60 43,700.60 43,587.90 35,587.10
Other Income 461.9 831.6 822.9 812.4 826.8
Stock Adjustments -6.9 455.9 -18.5 -23.4 131.2
Total Income 58,201.30 51,258.10 44,505.00 44,376.90 36,545.10
Expenditure
Raw Materials 39,047.30 35,713.10 31,495.00 32,722.00 28,330.60
Power & Fuel Cost 692.6 712.3 594.1 493.7 229.5
Employee Cost 1,988.70 1,606.60 1,368.10 1,069.60 843.8
Miscellaneous Expenses 7,032.30 5,681.60 5,129.00 5,049.60 3,801.40
Total Expenses 48,760.90 43,713.60 38,586.20 39,334.90 33,205.30
Mar '16 Mar '15 Mar '14 Mar '13 Mar '12

12 mths 12 mths 12 mths 12 mths 12 mths

Operating Profit 8,978.50 6,712.90 5,095.90 4,229.60 2,513.00

PBDIT 9,440.40 7,544.50 5,918.80 5,042.00 3,339.80
Interest 81.5 206 175.9 189.8 55.2
PBDT 9,358.90 7,338.50 5,742.90 4,852.20 3,284.60
Depreciation 2,823.90 2,470.30 2,084.40 1,861.20 1,138.40
Profit Before Tax 6,535.00 4,868.20 3,658.50 2,991.00 2,146.20
PBT (Post Extra-ord Items) 6,535.00 4,868.20 3,658.50 2,991.00 2,146.20
Tax 1,963.60 1,157.00 875.5 598.9 511
Reported Net Profit 4,571.40 3,711.20 2,783.00 2,392.10 1,635.20
Total Value Addition 9,713.60 8,000.50 7,091.20 6,612.90 4,874.70
Equity Dividend 1,057.30 755.2 362.5 241.7 216.7
Corporate Dividend Tax 215.2 153.8 61.6 41.1 35.1
Per share data (annualised)
Shares in issue (lakhs) 3,020.80 3,020.80 3,020.80 3,020.80 2,889.10
Earning Per Share (Rs) 151.33 122.85 92.13 79.19 56.6
Equity Dividend (%) 700 500 240 160 150
Book Value (Rs) 894.04 784.7 694.45 615.03 525.68
151.330773
Maruti
Suzuki Previous Years
India
------------------
Standalon
- in Rs. Cr.
e Balance
------------------
Sheet
-
Mar '16 Mar '15 Mar '14 Mar '13 Mar '12

12 mths 12 mths 12 mths 12 mths 12 mths

Sources Of Funds
Total
Share 151 151 151 151 144.5
Capital
Equity
Share 151 151 151 151 144.5
Capital
Reserves 26,856.10 23,553.20 20,827.00 18,427.90 15,042.90
Networth 27,007.10 23,704.20 20,978.00 18,578.90 15,187.40
Unsecured
77.4 180.2 1,685.10 1,389.20 1,078.30
Loans

Total Debt 77.4 180.2 1,685.10 1,389.20 1,078.30

Total
27,084.50 23,884.40 22,663.10 19,968.10 16,265.70
Liabilities
Mar '16 Mar '15 Mar '14 Mar '13 Mar '12

12 mths 12 mths 12 mths 12 mths 12 mths

Application Of Funds
Gross
28,910.80 26,084.60 22,435.00 19,633.90 14,678.30
Block
Less:
Accum.
16,143.00 13,825.30 11,644.60 9,834.70 7,157.60
Depreciati
on
Net Block 12,767.80 12,259.30 10,790.40 9,799.20 7,520.70
Capital
Work in 1,006.90 1,882.80 2,621.40 1,940.90 611.4
Progress
Investmen
17,785.70 12,814.00 10,117.90 7,078.30 6,147.40
ts
Inventories 3,132.10 2,615.00 1,705.90 1,840.70 1,796.50
Sundry
1,298.60 1,069.80 1,413.70 1,469.90 937.6
Debtors
Cash and
Bank 39.1 18.3 629.7 775 2,436.10
Balance
Total
Current 4,469.80 3,703.10 3,749.30 4,085.60 5,170.20
Assets
Loans and
3,165.40 2,891.80 3,256.70 3,830.20 2,852.50
Advances
Total CA,
Loans & 7,635.20 6,594.90 7,006.00 7,915.80 8,022.70
Advances
Current
9,974.60 8,013.60 6,996.90 5,892.00 5,338.00
Liabilities
Provisions 2,136.50 1,653.00 875.7 874.1 698.5
Total CL &
12,111.10 9,666.60 7,872.60 6,766.10 6,036.50
Provisions
Net
Current -4,475.90 -3,071.70 -866.6 1,149.70 1,986.20
Assets
Total
27,084.50 23,884.40 22,663.10 19,968.10 16,265.70
Assets

Contingent
10,496.90 9,232.50 7,210.20 8,193.30 6,396.20
Liabilities
Book
894.04 784.7 694.45 615.03 525.68
Value (Rs)
Maruti Suzuki India Previous Years

Key Financial Ratios

Mar '16 Mar '15 Mar '14 Mar '13 Mar '12

Investment Valuation Ratios

Face Value 5 5 5 5 5
Dividend Per Share 35 25 12 8 7.5
Operating Profit Per Share (Rs) 297.22 222.22 168.69 140.02 86.98
Net Operating Profit Per Share
1,911.62 1,654.22 1,446.66 1,442.93 1,231.77
(Rs)
Free Reserves Per Share (Rs) -- -- -- -- --
Bonus in Equity Capital -- -- -- -- --
Profitability Ratios
Operating Profit Margin(%) 15.54 13.43 11.66 9.7 7.06
Profit Before Interest And Tax
10.57 8.35 6.76 5.33 3.77
Margin(%)
Gross Profit Margin(%) 10.65 8.49 6.89 5.43 3.86
Cash Profit Margin(%) 12.7 12.16 10.93 9.57 7.61
Adjusted Cash Margin(%) 12.7 12.16 10.93 9.57 7.61
Net Profit Margin(%) 7.91 7.42 6.36 5.48 4.59
Adjusted Net Profit Margin(%) 7.85 7.3 6.25 5.38 4.49
Return On Capital Employed(%) 24.42 21.24 16.91 15.92 13.53
Return On Net Worth(%) 16.92 15.65 13.26 12.87 10.76
Adjusted Return on Net Worth(%) 16.92 15.65 13.26 12.87 10.76
Return on Assets Excluding
894.04 784.7 694.45 615.03 525.68
Revaluations
Return on Assets Including
894.04 784.7 694.45 615.03 525.68
Revaluations
Return on Long Term Funds(%) 24.49 21.27 17.88 16.63 14.49
Liquidity And Solvency Ratios
Current Ratio 0.63 0.68 0.77 1.04 1.13
Quick Ratio 0.37 0.41 0.67 0.9 1.03
Debt Equity Ratio -- 0.01 0.08 0.07 0.07
Long Term Debt Equity Ratio -- 0.01 0.02 0.03 --
Debt Coverage Ratios
Interest Cover 81.18 24.63 21.8 16.76 39.88
Total Debt to Owners Fund 0 0.01 0.08 0.07 0.07

Financial Charges Coverage Ratio 115.83 36.62 33.65 26.56 60.5

Financial Charges Coverage Ratio

91.74 31.01 28.67 23.41 51.25
Post Tax
Management Efficiency Ratios
Inventory Turnover Ratio 20.84 21.08 28.65 26.67 21.98
Debtors Turnover Ratio 48.76 40.24 30.31 36.21 40.39
Investments Turnover Ratio 20.84 21.08 28.65 26.67 21.98
Fixed Assets Turnover Ratio 2.02 1.94 1.96 2.25 2.46
Total Assets Turnover Ratio 2.16 2.12 1.94 2.21 2.22
Asset Turnover Ratio 2.27 2.15 2.05 2.41 2.35

Average Raw Material Holding -- -- -- -- --

Average Finished Goods Held -- -- -- -- --
Number of Days In Working
-26.9 -21.61 -5.4 1.02 19.31
Capital
Profit & Loss Account Ratios
Material Cost Composition 67.61 71.46 72.06 75.07 79.6
Imported Composition of Raw
7.32 7.28 9.19 12.11 10.6
Materials Consumed
Selling Distribution Cost
-- -- -- -- --
Composition
Expenses as Composition of Total
8.29 9.27 9.47 10.46 10.37
Sales
Cash Flow Indicator Ratios
Dividend Payout Ratio Net Profit 23.12 20.34 13.02 10.1 13.25

Dividend Payout Ratio Cash Profit 14.29 12.21 7.44 5.68 7.81

Earning Retention Ratio 76.88 79.66 86.98 89.9 86.75

Cash Earning Retention Ratio 85.71 87.79 92.56 94.32 92.19
AdjustedCash Flow Times 0.01 0.03 0.35 0.33 0.39

Mar '16 Mar '15 Mar '14 Mar '13 Mar '12

Earnings Per Share 151.33 122.85 92.13 79.19 56.6

Book Value 894.04 784.7 694.45 615.03 525.68