Balance Sheet

WABCO India Bosch Ltd.

Mar 17 16-Mar Mar 17 16-Mar
12 mths 12 mths 12 mths 12 mths
EQUITIES AND LIABILITIES
SHAREHOLDER'S FUNDS
Equity Share Capital 9.48 9.48 30.5 31.4
Total Share Capital 9.48 9.48 30.5 31.4
Reserves and Surplus 1,256.94 1,044.47 8,769.10 8,257.40
Total Reserves and Surplus 1,256.94 1,044.47 8,769.10 8,257.40
Total Shareholders Funds 1,266.43 1,053.96 8,799.60 8,288.80
Government/Other Grants 0.05 0.00
NON-CURRENT LIABILITIES
Long Term Borrowings 0 19.1
Deferred Tax Liabilities [Net] 8.59 9.94
Other Long Term Liabilities 0 0.03 6 55.3
Long Term Provisions 16.54 19.25 364.2 377.5
Total Non-Current Liabilities 25.14 29.21 370.2 451.9
CURRENT LIABILITIES
Short Term Borrowings 0.00 0.00 0 0
Trade Payables 341.93 346.36 1,339.90 1,312.90
Other Current Liabilities 92.91 76.06 535.8 433.6
Short Term Provisions 10.62 18.47 754.3 1,016.50
Total Current Liabilities 445.47 440.89 2,630.00 2,763.00
Total Capital And Liabilities 1,737.08 1,524.06 11,799.80 11,503.70
ASSETS
NON-CURRENT ASSETS
Tangible Assets 314.29 331.17 1,319.40 1,136.20
Intangible Assets 3.65 4.65
Capital Work-In-Progress 61.66 37.45 128.9 150.7
Other Assets 194.3 0
Fixed Assets 379.6 373.27 1,642.60 1,286.90
Non-Current Investments 0 2.2 3,658.50 3,739.70
Deferred Tax Assets [Net] 467.6 452.8
Long Term Loans And Advances 8 34.21 117.4 170.8
Other Non-Current Assets 47.47 0 14.3 10
Total Non-Current Assets 435.07 409.68 5,900.40 5,660.20
CURRENT ASSETS
Current Investments 298.14 218 268.1 0
Inventories 145.34 175.64 1,180.40 1,199.10
Trade Receivables 517.98 435.73 1,186.20 1,316.20
Cash And Cash Equivalents 266.9 213.04 1,717.60 1,831.50
Short Term Loans And Advances 1.15 70.58 320.5 1,343.20
OtherCurrentAssets 72.5 1.4 1,226.60 153.5
Total Current Assets 1,302.01 1,114.38 5,899.40 5,843.50
Total Assets 1,737.08 1,524.06 11,799.80 11,503.70

P&L Statement

WABCO India Bosch Ltd.

Mar 17 16-Mar Mar 17 16-Mar
12 mths 12 mths 12 mths 12 mths
INCOME
Revenue From Operations [Gross] 2,259.50 1,992.86 10,983.40 11,222.60
Less: Exxise/Service Tax/Other 193.08 167.08 807.4 806.9
Levies
Revenue From Operations [Net] 2,066.42 1,825.78 10,176.00 10,415.70
Other Operating Revenues 16.35 12.49 259.2 197.1
Total Operating Revenues 2,082.77 1,838.27 10,435.20 10,612.80
Other Income 20.87 34.61 617.4 382.6
Total Revenue 2,103.64 1,872.88 11,052.60 10,995.40
EXPENSES
Cost Of Materials Consumed 1,275.67 1,121.10 3,007.00 3,218.50
Purchase of Stock-In Trade 2,421.90 2,345.50
Changes In Inventories Of FG,WIP -37.59 -21.36 -119.7 58.9
And Stock-In Trade
Employee Benefit Expenses 191.11 173.78 1,342.80 1,393.20
Finance Costs 0.46 0.15 27.2 4.2
Depreciation And Amortisation 61.63 56.24 456.2 395
Expenses
Other Expenses 311.9 271.81 1,822.80 1,721.00
Total Expenses 1,803.19 1,601.72 8,958.20 9,136.30
17-Mar 16-Mar 17-Mar 16-Mar
12 mths 12 mths 12 mths 12 mths
Profit/Loss Before Exceptional, 300.45 271.16 2,094.40 1,859.10
ExtraOrdinary Items And Tax
Exceptional Items 0 0
Profit/Loss Before Tax 300.45 271.16 2,094.40 1,859.10
Tax Expenses-Continued Operations
Current Tax 85.08 65.73 616.9 658.2
Deferred Tax 0.4 -6.51 34 -35.6
Tax For Earlier Years 1.49 7.33 -0.6 -9.4
Total Tax Expenses 86.97 66.54 650.3 613.2
Profit/Loss After Tax And Before 213.48 204.62 1,444.10 1,245.90
ExtraOrdinary Items
Profit/Loss From Continuing 213.48 204.62 1,444.10 1,245.90
Operations
Profit Loss From Discontinuing 371.1 0
Operations
Total Tax Expenses Discontinuing 74.1 0
Operations
Net Profit Loss From Discontinuing 297 0
Operations
Profit/Loss For The Period 213.48 204.62 1,741.10 1,245.90
17-Mar 16-Mar 17-Mar 16-Mar
12 mths 12 mths 12 mths 12 mths
OTHER ADDITIONAL INFORMATION
EARNINGS PER SHARE
Basic EPS (Rs.) 112.55 107.88 561 397
Diluted EPS (Rs.) 112.55 107.88 561 397
DIVIDEND AND DIVIDEND
PERCENTAGE
Equity Share Dividend 11.38 11.38 495.8 266.9
Tax On Dividend 2.32 2.32 100.9 54.3
Equity Dividend Rate (%) 120 120 1,650.00 850
Market Price per Share 5826.1 6247.9 22751.25 20784.5
No. of Shares 1.8967584 1.8967584 3.0520740 3.1398900
Face Value per Share 5 5 10 10
DPS 5.99970982 5.9997098 162.446913 85.0029778
Financial Ratios WABCO India
A. Short-term Liquidity Ratios Mar-17
1. Current Ratio =CA/CL 2.92
2. Quick Ratio =(CA-Inventory)/CL 2.60
3. Cash Ratio =Cash & BB/CL 0.5991
4.NWC to TA Ratio =(CA-CL)/TA 0.49
5. Interval ratio =CA/Avg daily cost 319.04
B. Long-term Liquidity Ratios
1. Total Debt Ratio =(TA-TE)/TA 0.27
2.Debt-Equity Ratio =Total Debt/TE = (TA-TE)/TE 0.37
3.Equity Multiplier =TA/TE 1.37
4.Times Interest Earned (TIE) Ratio=PBIT/I 654.15
5.Cash Coverage Ratio =EBITDA/I 788.13
C.Asset Turnover Ratios
1 a). Inventory Turnover Ratio(ITR) =NS/Inventory 14.22
1. b). Days' sales in inventory =365/ITR (.5 marks) 25.67
2. a) Receivables Turnover Ratio (RTR) =NS/Trade Receivables 3.99
2. b). Days' sales in receivables =365/RTR (.5 marks) 91.49
3.a). Payables Turnover Ratio =COGS*/Trade Payables 4.36
3.b) Days' COGS in Payables = 365/PTR 83.78
4. NWC turnover ratio =NS/NWC 2.41
5. CA Turnover Ratio =NS/CA 1.59
6. FA Turnover Ratio =NS/NFA 5.44
7. Total Asset Turnover Ratio (TATR) =NS/TA 1.19
D. Profitability Ratios
1. Gross profit margin (GPM)=Gross profit/NS = (NS-COGS*)/NS 0.28
2. Operating Profit Margin(OPM) =PBIT/NS 0.15
3. Net Profit Margin (NPM) =NP/Total Revenue 0.10
4. Adj NPM = (NP-Exceptional items)/Total Revenue 0.10
5. Return on Equity (ROE) =NP/TE 0.17
ROE Analysis
a).PBIT/Net Rev from Ope (impact of profitable operations) 0.15
b).PBT/PBIT (Impact of finance cost) 1.00
c). Net profit available to shareholders/PBT (Impact of tax) 0.71
d) .TATR (Impact of efficiency in using assets) 1.19
e).TA/SF (Impact of borrowing) 1.37
Return of Equity = Product of the above ratios 0.17
E. Valuation Ratios
1.Price- Earnings (P/E) Ratio =Market price per share/Earnings per shar 51.76
2.Price-sales(P/S) ratio =MP per share/Sales per share 4.89
3.Pric-book (P/B) ratio =MP per share/BV per share 8.73
4. Dividend yield (DY)= DPS/beginning price per share 0.00
5. Capital gain (CG)=(end price per share-beginning price per share)/be -0.07
6. Total Return to Shareholders=DY+CG -0.07

Inference

WABCO
WABCO India Bosch Ltd.
Mar-16 Mar-17 Mar-16 Remarks
2.53 2.24 2.11
2.13 1.79 1.68
0.4832 0.65 0.66
0.44 0.28 0.27
307.55 312.43 297.06

0.31 0.25 0.28 Too much usage of equity

0.45 0.34 0.39
1.45 1.34 1.39
1808.73 78.00 443.64 Interest cost is increasing significantly
2183.67 94.77 537.69

10.40 8.62 8.69

35.11 42.34 42.02
4.19 8.58 7.91
87.11 42.55 46.12 Too high for WABCO and it still increased in this yea
3.82 5.14 5.47
95.59 70.96 66.74 Even though the no. of days have decreased, the tim
2.71 3.11 3.38
1.64 1.72 1.78 CA is less efficiently being used compared to previo
4.89 6.20 8.09
1.20 0.86 0.91

0.28 0.32 0.31

0.15 0.21 0.18
0.11 0.16 0.11
0.11 0.16 0.11
0.19 0.20 0.15 Equity is not used optimally for WABCO

0.15 0.21 0.18

1.00 0.99 1.00
0.75 0.83 0.67
1.20 0.86 0.91
1.45 1.34 1.39
0.19 0.20 0.15

57.92 40.55 52.35 The perception of the companies in the market has
5.95 6.32 5.82
11.24 7.89 7.87
0.01
0.09

Inference
The revenue and
expenses of the
company both have
increased and it is
amost increased
proportionally leading
to only a small change
in Net profits of the
firm.
0.10
The revenue of the
company has
BOSCH increased and the
company has also
managed to cut down
its expenses leading to
a major increase in the
Net profits of the firm.
usage of equity

st is increasing significantly

or WABCO and it still increased in this year.

gh the no. of days have decreased, the time is almost 3 months and can lead to dissatisfaction among suppliers.

efficiently being used compared to previous year

ot used optimally for WABCO

ption of the companies in the market has detoriated compared to last year.
faction among suppliers.
Balance Sheet Normal Common Size
WABCO India Bosch Ltd. WABCO India Bosch Ltd.
Mar 17 16-Mar Mar 17 16-Mar Mar 17 16-Mar Mar 17
12 mths 12 mths 12 mths 12 mths 12 mths 12 mths 12 mths
EQUITIES AND LIABILITIES
SHAREHOLDER'S FUNDS
Equity Share Capital 9.48 9.48 30.5 31.4 0.55% 0.62% 0.26%
Total Share Capital 9.48 9.48 30.5 31.4 0.55% 0.62% 0.26%
Reserves and Surplus 1,256.94 1,044.47 8,769.10 8,257.40 72.36% 68.53% 74.32%
Total Reserves and Surplus 1,256.94 1,044.47 8,769.10 8,257.40 72.36% 68.53% 74.32%
Total Shareholders Funds 1,266.43 1,053.96 8,799.60 8,288.80 72.91% 69.15% 74.57%
Government/Other Grants 0.05 0.00 0.00% 0.00%
NON-CURRENT LIABILITIES
Long Term Borrowings 0 19.1 0.00% 0.00% 0.00%
Deferred Tax Liabilities [Net] 8.59 9.94 0.49% 0.65% 0.00%
Other Long Term Liabilities 0 0.03 6 55.3 0.00% 0.00% 0.05%
Long Term Provisions 16.54 19.25 364.2 377.5 0.95% 1.26% 3.09%
Total Non-Current Liabilities 25.14 29.21 370.2 451.9 1.45% 1.92% 3.14%
CURRENT LIABILITIES 0.00% 0.00% 0.00%
Trade Payables 341.93 346.36 1,339.90 1,312.90 19.68% 22.73% 11.36%
Other Current Liabilities 92.91 76.06 535.8 433.6 5.35% 4.99% 4.54%
Short Term Provisions 10.62 18.47 754.3 1,016.50 0.61% 1.21% 6.39%
Total Current Liabilities 445.47 440.89 2,630.00 2,763.00 25.64% 28.93% 22.29%
Total Capital And Liabilities 1,737.08 1,524.06 11,799.80 11,503.70 100.00% ### 100.00%
ASSETS
NON-CURRENT ASSETS
Tangible Assets 314.29 331.17 1,319.40 1,136.20 18.09% 21.73% 11.18%
Intangible Assets 3.65 4.65 0.21% 0.31%
Capital Work-In-Progress 61.66 37.45 128.9 150.7 3.55% 2.46% 1.09%
Other Assets 194.3 0 0.00% 0.00% 1.65%
Fixed Assets 379.6 373.27 1,642.60 1,286.90 21.85% 24.49% 13.92%
Non-Current Investments 0 2.2 3,658.50 3,739.70 0.00% 0.14% 31.00%
Deferred Tax Assets [Net] 467.6 452.8 0.00% 0.00% 3.96%
Long Term Loans And Advances 8 34.21 117.4 170.8 0.46% 2.24% 0.99%
Other Non-Current Assets 47.47 0 14.3 10 2.73% 0.00% 0.12%
Total Non-Current Assets 435.07 409.68 5,900.40 5,660.20 25.05% 26.88% 50.00%
CURRENT ASSETS
Current Investments 298.14 218 268.1 0 17.16% 14.30% 2.27%
Inventories 145.34 175.64 1,180.40 1,199.10 8.37% 11.52% 10.00%
Trade Receivables 517.98 435.73 1,186.20 1,316.20 29.82% 28.59% 10.05%
Cash And Cash Equivalents 266.9 213.04 1,717.60 1,831.50 15.36% 13.98% 14.56%
Short Term Loans And Advances 1.15 70.58 320.5 1,343.20 0.07% 4.63% 2.72%
OtherCurrentAssets 72.5 1.4 1,226.60 153.5 4.17% 0.09% 10.40%
Total Current Assets 1,302.01 1,114.38 5,899.40 5,843.50 74.95% 73.12% 50.00%
Total Assets 1,737.08 1,524.06 11,799.80 11,503.70 100.00% ### 100.00%
mon Size Common Base Common Size & Base
Bosch Ltd. WABCO India Bosch Ltd. WABCO India Bosch Ltd.
16-Mar Mar 17 Mar 17 Mar 17 Mar 17
12 mths 12 mths 12 mths 12 mths 12 mths

0.27% 100.00% 97.13% 87.74% 94.70%

0.27% 100.00% 97.13% 87.74% 94.70%
71.78% 120.34% 106.20% 105.58% 103.53%
71.78% 120.34% 106.20% 105.58% 103.53%
72.05% 120.16% 106.16% 105.42% 103.50% 0.2626170306
0.32
0.44
0.17% 0.00% 0.00% 0.29
0.00% 86.42% 75.82% 0.32
0.48% 0.00% 10.85% 0.00% 10.58% 0.3563426629
3.28% 85.92% 96.48% 75.39% 94.06%
3.93% 86.07% 81.92% 75.51% 79.87%
0.00%
11.41% 98.72% 102.06% 86.61% 99.50%
3.77% 122.15% 123.57% 107.17% 120.47%
8.84% 57.50% 74.21% 50.45% 72.34%
24.02% 101.04% 95.19% 88.65% 92.80%
100.00% 113.98% 102.57% 100.00% 100.00%

9.88% 94.90% 116.12% 83.26% 113.21%

78.49% 68.87%
1.31% 164.65% 85.53% 144.46% 83.39%
0.00%
11.19% 101.70% 127.64% 89.22% 124.44%
32.51% 0.00% 97.83% 0.00% 95.37%
3.94% 103.27% 100.68%

1.48% 23.38% 68.74% 20.52% 67.01%

0.09% 143.00% 139.41%
49.20% 106.20% 104.24% 93.17% 101.63%

0.00% 136.76% 119.99%

10.42% 82.75% 98.44% 72.60% 95.97%
11.44% 118.88% 90.12% 104.30% 87.86%
15.92% 125.28% 93.78% 109.92% 91.43%

11.68% 1.63% 23.86% 1.43% 23.26%

 1.33% 5178.57% 799.09% 4543.52% 779.04%
50.80% 116.84% 100.96% 102.51% 98.42%
100.00% 113.98% 102.57% 100.00% 100.00%
0.3108095982
0.12
0.24
0.85
0.41
P&L Statement Normal Common Size
WABCO India Bosch Ltd. WABCO India
Mar 17 16-Mar Mar 17 16-Mar Mar 17
12 mths 12 mths 12 mths 12 mths 12 mths
INCOME
Revenue From Operations [Gross] 2,259.50 1,992.86 10,983.40 11,222.60 107.41%
Less: Exxise/Service Tax/Other 193.08 167.08 807.4 806.9
Levies 9.18%
Revenue From Operations [Net] 2,066.42 1,825.78 10,176.00 10,415.70 98.23%
Other Operating Revenues 16.35 12.49 259.2 197.1 0.78%
Total Operating Revenues 2,082.77 1,838.27 10,435.20 10,612.80 99.01%
Other Income 20.87 34.61 617.4 382.6 0.99%
Total Revenue 2,103.64 1,872.88 11,052.60 10,995.40 100.00%
EXPENSES
Cost Of Materials Consumed 1,275.67 1,121.10 3,007.00 3,218.50 60.64%
Purchase of Stock-In Trade 2,421.90 2,345.50
Changes In Inventories Of FG,WIP -37.59 -21.36 -119.7 58.9
And Stock-In Trade -1.79%
Employee Benefit Expenses 191.11 173.78 1,342.80 1,393.20 9.08%
Finance Costs 0.46 0.15 27.2 4.2 0.02%
Depreciation And Amortisation 61.63 56.24 456.2 395
Expenses 2.93%
Other Expenses 311.9 271.81 1,822.80 1,721.00 14.83%
Total Expenses 1,803.19 1,601.72 8,958.20 9,136.30 85.72%
Profit/Loss Before Exceptional, 300.45 271.16 2,094.40 1,859.10
ExtraOrdinary Items And Tax 14.28%
Exceptional Items 0 0
Profit/Loss Before Tax 300.45 271.16 2,094.40 1,859.10 14.28%
Tax Expenses-Continued Operations
Current Tax 85.08 65.73 616.9 658.2 4.04%
Deferred Tax 0.4 -6.51 34 -35.6 0.02%
Tax For Earlier Years 1.49 7.33 -0.6 -9.4 0.07%
Total Tax Expenses 86.97 66.54 650.3 613.2 4.13%
Profit/Loss After Tax And Before 213.48 204.62 1,444.10 1,245.90
ExtraOrdinary Items 10.15%
Profit/Loss From Continuing 213.48 204.62 1,444.10 1,245.90
Operations 10.15%
Profit Loss From Discontinuing 371.1 0
Operations
Total Tax Expenses Discontinuing 74.1 0
Operations
Net Profit Loss From Discontinuing 297 0
Operations
Profit/Loss For The Period 213.48 204.62 1,741.10 1,245.90 10.15%
 Common Size Common Base Common Size & Base
WABCO India Bosch Ltd. WABCO India Bosch Ltd. WABCO India Bosch Ltd.
16-Mar Mar 17 16-Mar Mar 17 Mar 17 Mar 17 Mar 17
12 mths 12 mths 12 mths 12 mths 12 mths 12 mths 12 mths

106.41% 99.37% 102.07% 113.38% 97.87% 100.94% 97.36%

8.92% 7.31% 7.34% 115.56% 100.06% 102.88% 99.54%

97.49% 92.07% 94.73% 113.18% 97.70% 100.76% 97.19%
0.67% 2.35% 1.79% 130.90% 131.51% 116.55% 130.83%
98.15% 94.41% 96.52% 113.30% 98.33% 100.87% 97.82%
1.85% 5.59% 3.48% 60.30% 161.37% 53.69% 160.53%
100.00% 100.00% 100.00% 112.32% 100.52% 100.00% 100.00%

59.86% 27.21% 29.27% 113.79% 93.43% 101.31% 92.95%

21.91% 21.33% 103.26% 102.72%

-1.14% -1.08% 0.54% 175.98% -203.23% 156.68% -202.17%

9.28% 12.15% 12.67% 109.97% 96.38% 97.91% 95.88%
0.01% 0.25% 0.04% 306.67% 647.62% 273.03% 644.27%

3.00% 4.13% 3.59% 109.58% 115.49% 97.56% 114.90%

14.51% 16.49% 15.65% 114.75% 105.92% 102.16% 105.37%
85.52% 81.05% 83.09% 112.58% 98.05% 100.23% 97.54%

14.48% 18.95% 16.91% 110.80% 112.66% 98.65% 112.07%

0.00% 0.00%
14.48% 18.95% 16.91% 110.80% 112.66% 98.65% 112.07%

3.51% 5.58% 5.99% 129.44% 93.73% 115.24% 93.24%

-0.35% 0.31% -0.32% -6.14% -95.51% -5.47% -95.01%
0.39% -0.01% -0.09% 20.33% 6.38% 18.10% 6.35%
3.55% 5.88% 5.58% 130.70% 106.05% 116.37% 105.50%

10.93% 13.07% 11.33% 104.33% 115.91% 92.89% 115.31%

10.93% 13.07% 11.33% 104.33% 115.91% 92.89% 115.31%

3.36% 0.00%

0.67% 0.00%

2.69% 0.00%
10.93% 15.75% 11.33% 104.33% 139.75% 92.89% 139.02%