Balance Sheet

Mar '06
12 mths

Mar '07
12 mths

Mar '08
12 mths

Mar '09
12 mths

Rs. Cr.
Mar '10
12 mths

Sources Of Funds
Equity Share Capital
Reserves
Networth

11.34
127.84
139.18

11.34
144.76
156.1

11.34
143.42
154.76

11.34
145.46
156.8

11.34
159.26
170.6

Secured Loans
Unsecured Loans
Total Debt

28.16
21.96
50.12

19.37
17.99
37.36

43.89
18.4
62.29

27.47
23.98
51.45

15.08
27.31
42.39

Deferred tax liability

21.23

25.72

25.39

25.37

23.79

210.53

219.18

242.44

233.62

236.78

Gross Block
Less: Accum. Depreciation
Net Block
Capital Work in Progress
Investments

185.32
50.19
135.13
4.58
1.64

207.89
59.76
148.13
7.28
12.66

216.25
70.12
146.13
1.45
5.37

217.85
79.66
138.19
1.41
5.38

224.43
89.19
135.24
1.75
18.96

Inventories
Sundry Debtors
Cash and Bank Balance
Other current assets
Loans and Advances
Total CA, Loans & Advances

135.93
10.8
6.81
0.15
14.91
168.6

132.75
11.45
17.67
0.28
14.03
176.18

126.78
6.09
20.84
0.23
20.24
174.18

128.46
3.63
5.79
0.18
21.44
159.5

110.98
5.06
5.35
0.53
30.25
152.17

85.25
14.17
99.42
69.18

116.88
8.19
125.07
51.11

73.48
11.21
84.69
89.49

59.54
11.32
70.86
88.64

57.68
13.66
71.34
80.83

210.53

219.18

242.44

233.62

236.78

15.2

15.94

13.4

4.53

4.97

Total

Application Of Funds

Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets
Total
Contingent Liabilities

FINANCE - PROFIT AND LOSS - KCP Sugar & Industries Corporation Ltd (Curr: Rs in Cr.) As on 28/12/2010
COMPANY/FINANCE/PROFIT AND LOSS/7820/KCP Sugar &Inds.CmbDetail0CmbCommonsize0CmbAnnual0
200603 (12) 200703 (12) 200803 (12)
INCOME :
Sales Turnover
359.13
330.5
250.55
Sales turnover / Operating Income
359.13
330.5
250.55
Excise Duty
25.85
26.8
25.37
Net Sales
333.28
303.7
225.18
Other Income
2.72
5.62
3.73
Dividend Income
0.14
0.37
0.38
Interest Income
0.11
0.22
0.39
Profit on sale of Fixed Assets
0.06
1.63
0.07
Profit on sale of investments
0
0.01
0.06
Rent received
0.18
0.29
0.31
Refunds / Claims Received
0.66
0.15
0.17
Provision Written Back
0.19
0.66
0.05
Miscellaneous Income
1.38
2.29
2.3
Stock Adjustments
-0.49
-2.74
-3.23
Closing Stock Of WIP
1.97
2.6
2.1
Closing Stock of Finished Goods
124.72
121.22
118.42
Closing Stock of Other Materials
0
0.13
0.2
Opening Stock of WIP
2.17
1.97
2.6
Opening Stock of Finished Goods
125.01
124.72
121.22
Opening Stock of Other Materials
0
0
0.13
Total Income

335.51

306.58

225.68

EXPENDITURE :
Raw Materials
Opening Stock of Raw Materials
Purchases of Raw Material
Closing Stock of Raw Materials
Adjustment on amalgamation / trial runs
Power & Fuel Cost
Power, Oil & Fuel
Employee Cost
Salaries,Wages & Bonus
Contribution to funds
Staff Welfare Expenses
VRS compensation
Other Manufacturing Expenses
Freight Inwards & Transport charges
Packing Materials
Job Work / Contract / Processing Charges
Repairs
Repairs - Plant & machinery
Repairs - Building

162.32
8.69
153.72
0.09
0
2.4
2.4
20.84
16.72
2.03
1.59
0.5
22.82
0
6.91
3.19
12.69
11.23
0.6

188.87
0.09
188.8
0.02
0
2.46
2.46
22.47
18.89
1.95
1.56
0.07
26.18
0
7.18
3.66
15.07
13.23
1.13

146.89
0.02
146.88
0.01
0
1.74
1.74
20.73
17.57
1.82
1.34
0
22.09
0
6
3.59
12.22
10.65
0.79

Repairs - Others
Other Operating Expenses
Selling and Administration Expenses
Rent,Rates and Taxes paid
Others
Insurance
Distribution Expenses
Audit Expenses
Royalty and technical fees
Director's Remuneration
Other Commission paid
R & D Expenses
Other Administrative Expenses
Miscellaneous Expenses
Donations
Loss on Sale of Assets
Bad Debts written off
Provision for doubtful loan/ Deposit/ Advances
Other provisions and write offs
Other Miscellaneous Expenses

0.86
0.03
12.87
0.03
0.03
0.88
1.47
0.07
0.03
6.13
0
4.26
0
8.71
0.22
0.06
0.85
0
1.89
5.69

0.71
0.27
9.53
0.03
0.03
1.03
1.62
0.06
0.03
2.14
0
4.62
0
7.07
0.76
0.07
0.04
0
0
6.2

0.78
0.28
6.46
0.03
0.03
0.75
1.63
0.06
0.03
1.1
0
2.86
0
4.96
0
0.02
0.09
0
0.05
4.8

Total Expenditure

229.96

256.58

202.87

Operating Profit
Interest
Fixed Interest
Interest on Deposits
Interest on External Commercial Borrowings
Other Interest
Gross Profit
Depreciation
Depreciation for the current year
Profit Before Tax
Tax
Tax for the current year
Adjustment for Previous Year
Others
Fringe Benefit tax
Fringe Benefit Tax for Current Year
Deferred Tax
Deferred Tax for Current Year
Reported Net Profit
Extraordinary Items
Profit/(Loss) on Sale of Assets
Profit/(Loss) on Sale of Investment.
VRS Adjustment
Less : Tax on Extra Ordinary Income/Expense

105.55
4.21
2.56
0.18
0
1.47
101.34
7.43
7.43
93.91
29
29
0
0
0.25
0.25
7.55
7.55
57.11
-0.31
0
0
-0.5
0.15

50
3.52
1.9
0.22
0
1.4
46.48
10.01
10.01
36.47
8.25
8.25
0
0
0.18
0.18
4.49
4.49
23.55
0.98
1.56
0.01
-0.07
0.34

22.81
4.6
1.65
0.28
0
2.67
18.21
10.59
10.59
7.62
-0.24
2.5
-2.74
0
0.15
0.15
0.6
0.6
7.11
0.06
0.05
0.06
0
0.04

Less : Deferred Tax on Extra Ordinary Income/Exp.

0.04

0.18

0.01

Adjusted Net Profit

57.42

22.57

7.05

P & L Balance brought forward

Appropriations
Appropriation to General Reserve
Provision for Equity Dividend
Provision for Preference Dividend
Dividend Tax
INTERIM DIVIDEND PAID
P & L Balance carried down

13.12
44.4
25
17.01
0
2.39
5.67
25.83

25.83
9.13
2.5
5.67
0
0.96
0
40.25

40.25
7.45
0.82
5.67
0
0.96
0
39.91

Dividend
Preference Dividend
Equity Dividend %
Earnings Per Share-Unit Curr
Earnings Per Share(Adj)-Unit Curr
Book Value-Unit Curr

17.01
0
150
4.83
4.83
12.27

5.67
0
50
1.99
1.99
13.77

5.67
0
50
0.54
0.54
13.65

s on 28/12/2010
nsize0CmbAnnual0
200903 (12) 201003 (12)
194.2
194.2
14.11
180.09
5.35
0.68
1.61
1.34
0
0.41
0.1
0.06
1.15
3.21
0.93
122.93
0.07
2.1
118.42
0.2

258.96
258.96
11.53
247.43
4.1
1.53
0.67
0.38
0
0.4
0.07
0.22
0.83
-18.44
0.97
104.24
0.28
0.93
122.93
0.07

188.65

233.09

102.1
0.01
102.1
0.01
0
1.69
1.69
23.61
18.91
1.89
1.52
1.29
13.44
0
3.41
2.6
6.99
6.08
0.62

133.99
0.01
133.99
0.01
0
1.44
1.44
24.67
19.39
3.32
1.62
0.34
11.32
0
2.94
1.83
5.98
5.05
0.59

10000000
2474300000
2474.3

0.29
0.44
9.58
0.03
0.03
0.39
0.95
0.06
0.04
1.16
0
6.95
0
5.53
0
0.01
0.2
0
0.4
4.92

0.34
0.57
7.22
0.03
0.03
0.26
0.89
0.06
0.01
2.03
0
3.94
0
6.33
0
0.02
0
0.63
0.95
4.73

155.95

184.97

32.7
3.6
2.34
0.3
0
0.96
29.1
10.85
10.85
18.25
6.79
6.8
-0.01
0
0.15
0.15
-0.02
-0.02
11.33
0.03
1.33
0
-1.29
0.01

48.12
3.19
3.03
0
0
0.16
44.93
10.62
10.62
34.31
12.15
12.15
0
0
0
0
-1.58
-1.58
23.74
0.01
0.36
0
-0.34
0.01

11.3

23.73

39.91
10.43
1.14
7.94
0
1.35
0
40.81

40.81
12.32
2.38
8.5
0
1.44
0
52.23

7.94
0
70
0.88
0.88
13.83

8.5
0
75
1.97
1.97
15.04

Sources Of Funds
Equity Share Capital
Reserves
Networth

11.34
127.84
139.18

11.34
144.76
156.1

11.34
143.42
154.76

11.34
145.46
156.8

11.34
159.26
170.6

28.16
21.96
50.12

19.37
17.99
37.36

43.89
18.4
62.29

27.47
23.98
51.45

15.08
27.31
42.39

21.23
210.53

25.72
219.18

25.39
242.44

25.37
233.62

23.79
236.78

Gross Block
Less: Accum. Depreciation
Net Block
Capital Work in Progress
Investments

185.32
50.19
135.13
4.58
1.64

207.89
59.76
148.13
7.28
12.66

216.25
70.12
146.13
1.45
5.37

217.85
79.66
138.19
1.41
5.38

224.43
89.19
135.24
1.75
18.96

Inventories
Sundry Debtors
Cash and Bank Balance
Other current assets
Loans and Advances
Total CA, Loans & Advances

135.93
10.8
6.81
0.15
14.91
168.6

132.75
11.45
17.67
0.28
14.03
176.18

126.78
6.09
20.84
0.23
20.24
174.18

128.46
3.63
5.79
0.18
21.44
159.5

110.98
5.06
5.35
0.53
30.25
152.17

85.25
14.17
99.42
69.18

116.88
8.19
125.07
51.11

73.48
11.21
84.69
89.49

59.54
11.32
70.86
88.64

57.68
13.66
71.34
80.83

210.53

219.18

242.44

233.62

236.78

15.2

15.94

13.4

4.53

4.97

Secured Loans
Unsecured Loans
Total Debt
Deferred tax liability
Total

Application Of Funds

Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets
Total
Contingent Liabilities

CAGR
4.92% Equity

2006
160.41

-4.10% Debt

50.12

Total

210.53

Liabilities
2007
2008
181.82
180.15
13.35%
-0.92%
37.36
62.29
-25.46%
66.73%

219.18

242.44

2009
182.17
1.12%
51.45
-17.40%

2010
194.39
6.71%
42.39
-17.61%

233.62

236.78
Common Size Balance Sheet

Liabilities
2007
2008
60%
80%

Equity

2006
48%

2009
101%

2010
79%

Debt

15%

12%

28%

29%

17%

Total

63%

72%

108%

130%

96%

Intangibles
Net Fixed Assets
Investment
Non Cash Working Capital
Cash

Assets
2006
2007
0
0

2008
0

2009
0

2010
0

155.41
11.24%
12.66
671.95%
33.44
-46.38%
17.67
159.47%
219.18

147.58
-5.04%
5.37
-57.58%
68.65
105.29%
20.84
17.94%
242.44

139.6
-5.41%
5.38
0.19%
82.85
20.68%
5.79
-72.22%
233.62

136.99
-1.87%
18.96
252.42%
75.48
-8.90%
5.35
-7.60%
236.78

Assets
2006
2007
0
0

2008
0

2009
0

2010
0

139.71
1.64
62.37
6.81
210.53

ommon Size Balance Sheet

Intangibles
Net Fixed Assets
Invetsment
Non Cash Working Capital
Cash

41.92%

51.17%

65.54%

77.52%

55.37%

0.49%

4.17%

2.38%

2.99%

7.66%

18.71%

11.01%

30.49%

46.00%

30.51%

2.04%

5.82%

9.25%

3.22%

2.16%

63%

72%

108%

130%

96%

CAGR

-0.49%
84.39%
4.89%
-5.85%

FINANCE - PROFIT AND LOSS - KCP Sugar & Industries Corporation Ltd (Curr: Rs in Cr.) As on 28/12/2010
COMPANY/FINANCE/PROFIT AND LOSS/7820/KCP Sugar &Inds.CmbDetail0CmbCommonsize0CmbAnnual0
200603 (12) 200703 (12) 200803 (12) 200903 (12)
INCOME :
Sales Turnover
359.13
330.5
250.55
194.2
Excise Duty
25.85
26.8
25.37
14.11
Net Sales
333.28
303.7
225.18
180.09
Other Income
2.72
5.62
3.73
5.35
Stock Adjustments
(0.49)
(2.74)
(3.23)
3.21
Total Income

335.51

306.58

225.68

188.65

EXPENDITURE :
Raw Materials
Opening Stock of Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses

162.32
8.69
2.4
20.84
22.82

188.87
0.09
2.46
22.47
26.18

146.89
0.02
1.74
20.73
22.09

102.1
0.01
1.69
23.61
13.44

6.91
3.19
12.69
11.23
0.6
0.86
0.03
12.87
0.03
0.88
1.47
0.07
0.03
6.13
0
4.26
8.71

L
3.66
15.07
13.23
1.13
0.71
0.27
9.53
0.03
1.03
1.62
0.06
0.03
2.14
0
4.62
7.07

6
3.59
12.22
10.65
0.79
0.78
0.28
6.46
0.03
0.75
1.63
0.06
0.03
1.1
0
2.86
4.96

3.41
2.6
6.99
6.08
0.62
0.29
0.44
9.58
0.03
0.39
0.95
0.06
0.04
1.16
0
6.95
5.53

Packing Materials
Job Work / Contract / Processing Charges
Repairs
Repairs - Plant & machinery
Repairs - Building
Repairs - Others
Other Operating Expenses
Selling and Administration Expenses
Rent,Rates and Taxes paid
Insurance
Distribution Expenses
Audit Expenses
Royalty and technical fees
Director's Remuneration
Other Commission paid
R & D Expenses
Miscellaneous Expenses

Donations
0.22
Loss on Sale of Assets
0.06
Bad Debts written off
0.85
Provision for doubtful loan/ Deposit/ Advances 0
Other provisions and write offs
1.89
Other Miscellaneous Expenses
5.69

0.76
0.07
0.04
0
0
6.2

0
0.02
0.09
0
0.05
4.8

0
0.01
0.2
0
0.4
4.92

229.96

256.58

202.87

155.95

Operating Profit
105.55
Interest
4.21
Fixed Interest
2.56
Interest on Deposits
0.18
Interest on External Commercial Borrowings
0
Other Interest
1.47
Gross Profit
101.34
Depreciation
7.43
Depreciation for the current year
7.43
Profit Before Tax
93.91
Tax
29
Tax for the current year
29
Adjustment for Previous Year
0
Others
0
Fringe Benefit tax
0.25
Fringe Benefit Tax for Current Year
0.25
Deferred Tax
7.55
Deferred Tax for Current Year
7.55
Reported Net Profit
57.11
Extraordinary Items
-0.31
Profit/(Loss) on Sale of Assets
0
Profit/(Loss) on Sale of Investment.
0
VRS Adjustment
-0.5
Less : Tax on Extra Ordinary Income/Expense 0.15
Less : Deferred Tax on Extra Ordinary Income/Exp.
0.04

50
3.52
1.9
0.22
0
1.4
46.48
10.01
10.01
36.47
8.25
8.25
0
0
0.18
0.18
4.49
4.49
23.55
0.98
1.56
0.01
-0.07
0.34
0.18

22.81
4.6
1.65
0.28
0
2.67
18.21
10.59
10.59
7.62
-0.24
2.5
-2.74
0
0.15
0.15
0.6
0.6
7.11
0.06
0.05
0.06
0
0.04
0.01

32.7
3.6
2.34
0.3
0
0.96
29.1
10.85
10.85
18.25
6.79
6.8
-0.01
0
0.15
0.15
-0.02
-0.02
11.33
0.03
1.33
0
-1.29
0.01
0

Adjusted Net Profit

57.42

22.57

7.05

11.3

P & L Balance brought forward

Appropriations
Appropriation to General Reserve
Provision for Equity Dividend
Dividend Tax
INTERIM DIVIDEND PAID
P & L Balance carried down

13.12
44.4
25
17.01
2.39
5.67
25.83

25.83
9.13
2.5
5.67
0.96
0
40.25

40.25
7.45
0.82
5.67
0.96
0
39.91

39.91
10.43
1.14
7.94
1.35
0
40.81

Dividend
Preference Dividend

17.01
0

5.67
0

5.67
0

7.94
0

Total Expenditure

Equity Dividend %
Earnings Per Share-Unit Curr
Earnings Per Share(Adj)-Unit Curr
Book Value-Unit Curr

150
4.83
4.83
12.27

50
1.99
1.99
13.77

50
0.54
0.54
13.65

70
0.88
0.88
13.83

Cr.) As on 28/12/2010
Commonsize0CmbAnnual0
201003 (12)
Profit & Loss Account
258.96
11.53
247.43
4.1
(18.44)
233.09

133.99
0.01
1.44
24.67
11.32

Particulars
Net Sales
COGS
Gross Profit
SAE
EBITDA
Depreciation
EBIT
Interest
NOI
PBT
Tax
PAT
Extra ordinary items
Dividend
Retained Earnings C.Y.
Add: P&L Bal. b./f
Less: Appropriations
Trf to General Res.
Dividend Tax
Interim Dividend
Retained Earnings C/F

2.94
1.83
5.98
5.05
0.59
0.34
0.57
7.22
0.03
0.26
0.89
0.06
0.01
2.03
0
3.94
6.33

Tax rate
YOY %
Particulars
Net Sales
COGS
Gross Profit
SAE
EBITDA
Depreciation
EBIT
Interest
NOI
PBT
Tax
PAT

200603 (12) 200703 (12) 200803 (12) 200903 (12) 201003 (12)
333.28
303.7
225.18
180.09
247.43
208.87
242.72
194.68
137.63
189.86
124.41
60.98
30.5
42.46
57.57
21.58
16.6
11.42
15.11
13.55
102.83
44.38
19.08
27.35
44.02
7.43
10.01
10.59
10.85
10.62
95.4
34.37
8.49
16.5
33.4
4.21
3.52
4.6
3.6
3.19
2.72
5.62
3.73
5.35
4.1
93.91
36.47
7.62
18.25
34.31
36.8
12.92
0.51
6.92
10.57
57.11
23.55
7.11
11.33
23.74
-0.31
17.01
40.41
13.12

0.98
5.67
16.9
25.83

0.06
5.67
1.38
40.25

0.03
7.94
3.36
39.91

0.01
8.5
15.23
40.81

25
2.39
5.67
20.47

2.5
0.96
0
39.27

0.82
0.96
0
39.85

1.14
1.35
0
40.78

2.38
1.44
0
52.22

39.19%

35.43%

6.69%

37.92%

30.81%

200603 (12) 200703 (12) 200803 (12) 200903 (12) 201003 (12)
-8.88%
-25.85%
-20.02%
37.39%
16.21%
-19.79%
-29.30%
37.95%
-50.98%
-49.98%
39.21%
35.59%
-23.08%
-31.20%
32.31%
-10.32%
-56.84%
-57.01%
43.34%
60.95%
34.72%
5.79%
2.46%
-2.12%
-63.97%
-75.30%
94.35%
102.42%
-16.39%
30.68%
-21.74%
-11.39%
106.62%
-33.63%
43.43%
-23.36%
-61.16%
-79.11%
139.50%
88.00%
-64.89%
-96.05%
1256.86%
52.75%
-58.76%
-69.81%
59.35%
109.53%

0
0.02
0
0.63
0.95
4.73
184.97
48.12
3.19
3.03
0
0
0.16
44.93
10.62
10.62
34.31
12.15
12.15
0
0
0
0
-1.58
-1.58
23.74
0.01
0.36
0
-0.34
0.01
0
23.73
40.81
12.32
2.38
8.5
1.44
0
52.23
8.5
0

75
1.97
1.97
15.04

Commonsize P&L
CAGR
-7.18%
-2.36%
-17.52%
-10.98%
-19.11%
9.34%
-23.08%
-6.70%
10.80%
-22.25%
-26.79%
-19.70%

Particulars
Net Sales
COGS
Gross Profit
SAE
EBITDA
Depreciation
EBIT
Interest
NOI
PBT
Tax
PAT

NOPAT
Interest

58.02
2.56

200603 (12) 200703 (12)

100%
100%
62.7%
79.9%
37.3%
20.1%
6.5%
5.5%
30.9%
14.6%
2.2%
3.3%
28.6%
11.3%
1.3%
1.2%
0.8%
1.9%
28.2%
12.0%
11.0%
4.3%
17.1%
7.8%

22.19
2.27

7.92
4.29

200803 (12)
100%
86.5%
13.5%
5.1%
8.5%
4.7%
3.8%
2.0%
1.7%
3.4%
0.2%
3.2%

200903 (12)
100%
76.4%
23.6%
8.4%
15.2%
6.0%
9.2%
2.0%
3.0%
10.1%
3.8%
6.3%

10.24
2.23

23.11
2.21

201003 (12)
100%
76.7%
23.3%
5.5%
17.8%
4.3%
13.5%
1.3%
1.7%
13.9%
4.3%
9.6%

Average
76.4%
23.6%
6.2%
17.4%
4.1%
13.3%
1.6%
1.8%
13.5%
4.7%
8.8%

Cash Flow
Cash from Operations
PAT
Add: CY Depn
Add/Less: Increase/Decrease in non cash working capital
CFO
Cash from Investments
Increase in Net Block + CY Depn
Increase/Decrease in Investments
CFI
Cash from Financing
Increase/Decrease in Debt
Increase/Decrease in Equity
Dividend paid
CFF
CFO-CFI+CFF
Actual Increase/Decrease in Cash

2006
57.11
7.43
64.54

2007
23.55
10.01
(28.93)
62.49

2008
7.11
10.59
35.21
(17.51)

147.14
0
147.14

25.71
11.02
36.73

2.76
(7.29)
(4.53)

-12.76
2.14
-14.9
10.86

24.93
8.78
16.15
3.17

10.86
0.00

3.17
0.00

2009
11.33
10.85
14.20
7.98

2010
23.74
10.62
(7.37)
41.73

2.87
0.01
2.88

8.01
13.58
21.59

-10.84
9.31
-20.15
(15.05)

-9.06
11.52
-20.58
(0.44)

-15.05
0.00

-0.44
(0.00)

FCFF & FCFE

Particulars
Free Cash Flow To The Firm
NOPAT
Less: Inc in NFA
Less: Inc in Investments
Less: Inc in NCWC
FCFF

2006
58.02

Reinvestment Ratio = Reinvestments/NOPAT

RR
Free Cash Flow To The Equity
FCFF
Less: Cash Flow to Bond Holders
Interest (1-T)
Inc/Dec in Debt
FCFE
Free Cash Flow
FCFE
Less: Dividend
FCF (Change in Cash)
Add: Other Income
Cash & Cash Equivalents

2.56

2007

2008

2009

22.19
15.70
11.02
-28.93
24.40

7.92
-7.83
-7.29
35.21
-12.17

10.24
-7.98
0.01
14.20
4.01

-0.10

2.54

0.61

24.40

-12.17

4.01

2.27
-12.76
9.37

4.29
24.93
8.47

2.23
-10.84
-9.06

9.37
2.14
7.23

8.47
8.78
-0.31

-9.06
9.31
-18.37

3.63
10.86

3.48
3.17

3.32
-15.05

2010
23.11
-2.61
13.58
-7.37
19.51

0.16

19.51
2.21
-9.06
8.24

8.24
11.52
-3.28
2.84
-0.44

ROA & ROE

Particulars
PAT
Sales
NPM

Non Cash ROE

2006
57.11
333.28
17.14%

2007
23.55
303.7
7.75%

2008
7.11
225.18
3.16%

2009
11.33
180.09
6.29%

2010
23.74
247.43
9.59%

Average Total Assets

Average Equity

210.53
160.41

214.855
171.115

230.81
180.985

238.03
181.16

235.2
188.28

TATO
Financial Leverage

1.58
1.31

1.41
1.26

0.98
1.28

0.76
1.31

1.05
1.25

ROA
ROE

0.27
0.36

0.11
0.14

0.03
0.04

0.05
0.06

0.10
0.13

PAT
Other Income*(1-t)
Core PAT
Sales
NPM
Cash
Core Avg Total Assets
Core Avg Equity
TATO
Financial Leverage
ROA
ROE

2006
57.11
1.65
55.46
333.28
16.64%
6.81
203.72
153.60
1.64
1.33
0.27
0.36

2007
23.55
3.63
19.92
303.7
6.56%
17.67
197.185
153.45
1.54
1.29
0.10
0.13

2008
7.11
3.48
3.63
225.18
1.61%
20.84
209.97
160.15
1.07
1.31
0.02
0.02

2009
11.33
3.32
8.01
180.09
4.45%
5.79
232.24
175.37
0.78
1.32
0.03
0.05

2010
23.74
2.84
20.90
247.43
8.45%
5.35
229.85
182.93
1.08
1.26
0.09
0.11

PEG RATIO
Particulars
Equity
Core Equity
No. of shares(in crores)
Market Price(at the last day of F.Y)
Book Value/ Share
MP/BV
EPS
Current P/E
Forward P/E
Market Cap
Core Market Cap
i.e. Market Cap Less Excess Cash
PAT
Core PAT
Core P/E
Core Market Cap/ Core Equity
Actual Growth
PEG
Capital Gains

2006
160.41
153.60
11.34
74.85
14.15
5.29
5.04
14.86
36.04
848.80

2007
181.82
164.15
11.34
19.2
16.03
1.20
2.08
9.25
30.62
217.73

2008
180.15
159.31
11.34
17.6
15.89
1.11
0.63
28.07
17.62
199.58

2009
182.17
176.38
11.34
13
16.06
0.81
1.00
13.01
6.21
147.42

841.99
57.11
55.46
15.18

200.06
23.55
19.92
10.04

178.74
7.11
3.63
49.25

141.63
11.33
8.01
17.68

5.48

1.22

1.12

0.80

-42%
34.47
-44%

0.27%

-0.36

3%

2010
194.39
189.04
11.34
20.9
17.14
1.22
2.09
9.98
237.01
231.66
23.74
20.90
11.08
1.23

9%

7%

2%

firms wich have high roc r firms dat can raise huge capital
firms wich have lower business risk nd high ebit can raise more capital

huge capital
bit can raise more capital

Particulars
Kd

2006

Kd*(1-t)

2007

2008

2009

2010

8.05%

9.23%

6.33%

6.80%

4.89%

5.96%

5.91%

4.22%

Ke
WACC
WtE
WTD
WACC

13.42%

94.42%

85.35%

76.21%

74.13%

84.83%

5.58%

14.65%

23.79%

25.87%

15.17%
12.02%

Paticulars
Tax Rate
Total Debt
Avg Debt
Interest
No. of Eq. shares
Rfr

Rs. in crs.
2009
2010

2006

2007

2008

39.19%

35.43%

6.69%

37.92%

30.81%

50.12

37.36
43.74
3.52
11.34

62.29
49.825
4.6
11.34

51.45
56.87
3.6
11.34

42.39
46.92
3.19
11.34
8.25%

4.21
11.34

Beta
Market Risk Premium
Price on the last day
Market value of Eq
Book value of Eq
MV of Capital Str

0.74
74.85
848.799
11.34
898.919

19.2
217.728
11.34
255.088

17.6
199.584
11.34
261.874

13
147.42
11.34
198.87

7%
20.9
237.006
11.34
279.396

Date

3/2/2010
2/11/2010
1/4/2010
12/1/2009
11/3/2009
10/1/2009
9/1/2009
8/3/2009
7/1/2009
6/1/2009
5/4/2009
4/1/2009
3/2/2009
2/2/2009
1/1/2009
12/1/2008
11/3/2008
10/1/2008
9/1/2008
8/1/2008
7/1/2008
6/2/2008
5/2/2008
4/1/2008
3/3/2008
2/1/2008
1/1/2008
12/3/2007
11/1/2007
10/1/2007
9/3/2007
8/1/2007
7/2/2007
6/4/2007
5/3/2007
4/2/2007
3/1/2007
2/1/2007
1/2/2007
12/1/2006
11/1/2006
10/3/2006
9/1/2006

KCP

KCP RET

21
23
29
27
26
25
28
28
20
20
20
16
13
13
15
15
12
12
16
22
19
16
19
21
18
21
21
27
17
17
21
18
18
20
18
17
19
20
23
27
28
35
38

-8.9325%
-21.4041%
9.9812%
2.1154%
3.5857%
-10.5169%
1.4467%
36.8812%
0.7481%
0.2500%
22.3242%
25.7692%
-0.7634%
-9.9656%
0.3448%
17.4089%
0.8163%
-23.4375%
-28.4116%
15.8031%
22.1519%
-14.5946%
-13.5514%
21.5909%
-14.1463%
-4.4289%
-19.3609%
54.2029%
-0.8621%
-16.9451%
16.7131%
-1.1019%
-8.3333%
9.3923%
7.1006%
-11.9792%
-3.2746%
-12.3620%
-15.0094%
-4.4803%
-19.3642%
-9.3054%

NIFTY

5249.1
4922.3
4882.05
5201.05
5032.7
4711.7
5083.95
4662.1
4636.45
4291.1
4448.95
3473.95
3020.95
2763.65
2874.8
2959.15
2755.1
2885.6
3921.2
4360
4332.95
4040.55
4870.1
5165.9
4734.5
5223.5
5137.45
6138.6
5762.75
5900.65
5021.35
4464
4528.85
4318.3
4295.8
4087.9
3821.55
3745.3
4082.7
3966.4
3954.5
3744.1
3588.4

NIFTY Returns

6.6392%
0.8244%
-6.1334%
3.3451%
6.8128%
-7.3221%
9.0485%
0.5532%
8.0481%
-3.5480%
28.0660%
14.9953%
9.3102%
-3.8664%
-2.8505%
7.4063%
-4.5225%
-26.4103%
-10.0642%
0.6243%
7.2366%
-17.0335%
-5.7260%
9.1118%
-9.3615%
1.6750%
-16.3091%
6.5221%
-2.3370%
17.5112%
12.4854%
-1.4319%
4.8758%
0.5238%
5.0857%
6.9697%
2.0359%
-8.2641%
2.9321%
0.3009%
5.6195%
4.3390%

8/1/2006
7/3/2006
6/1/2006
5/1/2006
4/3/2006
3/1/2006
2/1/2006
1/2/2006
12/1/2005
11/1/2005
10/3/2005
9/1/2005
8/1/2005
7/1/2005
6/1/2005
5/2/2005
4/1/2005

35
37
45
57
77
75
613
645
495
388
354
348
357
272
195
179
176
MEAN
STD DEV
BETA

8.0737%
-5.4886%
-16.2556%
-21.0619%
-26.4323%
2.6052%
-87.7806%
-5.0972%
30.4862%
27.5693%
9.4566%
1.7083%
-2.5598%
31.6090%
39.4608%
9.1036%
1.6225%
-0.12%
21.03%
0.74

3413.9
3143.2
3128.2
3071.05
3557.6
3402.55
3074.7
3001.1
2836.55
2652.25
2370.95
2601.4
2384.65
2312.3
2220.6
2087.55
1902.5

5.1115%
8.6122%
0.4795%
1.8609%
-13.6764%
4.5569%
10.6628%
2.4524%
5.8011%
6.9488%
11.8644%
-8.8587%
9.0894%
3.1289%
4.1295%
6.3735%
9.7267%
2.14%
8.92%

1
2
3
4
5

Altman Z Score
2006
2007
Net Working Capital/Total Asset
0.30
0.15
Retained Earnings /Total Asset
0.10
0.18
EBIT/Total Asset
0.45
0.16
MV of Equity/Total Liabilities
4.03
0.99
Sales/Total Asset
1.58
1.39
5.99
2.93

Z Score
(1.2X1+1.4X2+3.3X3+0.6X4+X5)

Outcome of Z Score

5.99

2.93

Very Less
Default
Chances Normal

2008
0.28
0.16
0.04
0.82
0.93
2.11

2009
0.35
0.17
0.07
0.63
0.77
2.05

2.11

2.05

Normal

Normal

2010
0.32
0.22
0.14
1.00
1.04
2.80

2.80

Normal

Particulars
ACTIVITY RATIOS:
Receivables Turnover
Days Of Sales Outstanding
Inventory Turnover
Days Of Inventory In Hand
Total Asset Turnover
Fixed Asset Turnover
Working Capital Turnover
LIQUIDITY RATIOS:
Current Ratio
Quick Ratio
Cash Ratio
SOLVENCY RATIOS:
Debt To Equity
Debt To Capital
Debt to Asset
Interest Coverage
PROFITABILITY RATIOS:
Net Profit Margin
Gross Profit Margin
Operating Profit Margin
Pretax Margin
Return On Assets (ROA)
Operating Return On Asset
COVERAGE RATIOS:
Debt Coverage
Interest Coverage
Reinvestment
VALUATION RATIOS:
No Of Equity Shares
Dividend Per Share
Market Price Per Share
Book Value Per Share
Earnings Per Share
Price Earnings Ratio (P/E)
MV/BV Ratio
Dividend Yield Ratio
Dividend Payout Ratio

2006

2007

2008

2009

2010

27.30
13
1.81
202
1.41
2.06
5.05

25.68
14
1.50
243
0.98
1.49
3.20

37.06
10
1.08
338
0.76
1.25
2.02

56.95
6
1.59
230
1.05
1.79
2.92

1.70
0.33
0.15

1.41
0.35
0.11

2.06
0.56
0.24

2.25
0.44
0.31

2.13
0.58
0.43

0.31
0.24

0.21
0.17
0.17
9.76

0.35
0.26
0.27
1.85

0.28
0.22
0.22
4.58

0.22
0.18
0.18
10.47

17.14%
37.33%
28.62%
28.18%
27.13%

7.75%
20.08%
11.32%
12.01%
10.96%
16.00%

3.16%
13.54%
3.77%
3.38%
3.08%
3.68%

6.29%
23.58%
9.16%
10.13%
4.76%
6.93%

9.59%
23.27%
13.50%
13.87%
10.09%
14.20%

1.25
22.66

0.77
9.76
-0.10

0.29
1.85
2.54

0.33
4.58
0.61

0.72
10.47
0.16

11.34
1.50
74.85
11.34
5.04
14.86
6.60
0.02
0.30

11.34
0.50
19.20
11.34
2.08
9.25
1.69
0.03
0.24

11.34
0.50
17.60
11.34
0.63
28.07
1.55
0.03
0.80

11.34
0.70
13.00
11.34
1.00
13.01
1.15
0.05
0.70

11.34
0.75
20.90
11.34
2.09
9.98
1.84
0.04
0.36

1.58

22.66

100000
1000000
P&L (QoQ) - Unaudited
Particulars
Net Sales
QoQ growth (%)
EBITDA
PAT

Quarter ended
31.12.2010
472.80
-22%
-20.43
-24.81

INR mn
Quarter ended
31.12.2009
606.48
80.26
30.93

KCP
0
20
40
60
80
100
120
140
160
180
200

NIFTY
100

100 APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR

Details
No. of days
Cane crushed (in MT)
Sugar Bagged (in qtls)
Recovery (%)

VUYYURU
LAKSHMIPURAM
31.03.2010 31.03.2009 31.03.2010 31.03.2009
92
122
65
71
4,89,522
5,81,406
1,50,759
1,35,957
4,64,110
6,11,620
1,29,206
1,22,686
9.5
10.52
8.58
9.05

Particulars
Net Sales
YoY (%)
Operating Exp
EBITDA
YoY (%)
Depreciation
EBIT
Interest
NOI
PBT
Tax
PAT
YoY (%)

FY06
333.28

Particulars
Gross Margin
EBITDA
EBIT
PBT
PAT

FY06
37.33%
30.85%
28.62%
28.18%
17.14%

230.45
102.83
7.43
95.4
4.21
2.72
93.91
36.8
57.11

FY07
303.7
-9%
259.32
44.38
-57%
10.01
34.37
3.52
5.62
36.47
12.92
23.55
-59%

FY08
225.18
-26%
206.1
19.08
-57%
10.59
8.49
4.6
3.73
7.62
0.51
7.11
-70%

FY09
180.09
-20%
152.74
27.35
43%
10.85
16.5
3.6
5.35
18.25
6.92
11.33
59%

FY10
247.43
37%
203.41
44.02
61%
10.62
33.4
3.19
4.1
34.31
10.57
23.74
110%

FY07
20.08%
14.61%
11.32%
12.01%
7.75%

FY08
13.54%
8.47%
3.77%
3.38%
3.16%

FY09
23.58%
15.19%
9.16%
10.13%
6.29%

FY10
23.27%
17.79%
13.50%
13.87%
9.59%