Professional Documents
Culture Documents
of Airtel
By-
Astha Didwania
Debarati Banerjee
Nishant Ambust
Sakshi Fotedar
Anurag Thakur
GROUP 4
Balance Sheet - Assets
As of 31-03- As of 31-03- As of 01-04- FY 17/ FY
Particulars
2017 2016 2015 FY16 16/FY15
Assets Typical of an investment intensive industry having a
Non-current assets
Property, plant and equipment 38,118 31,267 25,816 22% 21%
product with high service component, the assets are
Capital work-in-progress 1,182 2,859 2,690 -59% 6% primarily long term - >90% of total assets
Intangible assets 73,405 60,658 27,789 21% 118%
Intangible assets under
8,418 972 6,411
development 767% -85% Within LTA highest contribution is from intangible assets
Investment in subsidiaries, joint
ventures and associates
45,954 69,891 65,248
-34% 7% (42%) which is spectrum & licenses in case of this of this
Financial assets organisation.
- Investments 5.2 5.2 5.2 0% 0%
- Derivative instruments 21.3 39.6 15.4 -46% 157%
- Loans and security deposits 1,039 2,886 4,289 -64% -33%
- Others 55.6 59.8 48.7 -7% 23%
Long term assets have increased 27% in FY 16 over 15
Deferred tax assets (net) 888 2,307 2,724 -62% -15% primarily due to new spectrum acquisition
Other non-current assets 3,985 2,662 1,704 50% 56%
173,071 173,607 136,740 0% 27%
Current assets Intangible Assets under development in FY 15 get
Inventories 3.9 5.3 9.4 -26% -44%
Financial assets converted into finished assets in FY16
- Investments 0.8 4,757 -100%
- Derivative instruments 63.4 46.2 16.8 37% 175%
- Trade receivables 3,212 3,172 3,305 1% -4% In financial assets Bharti has been reducing loans (both
- Cash and cash equivalents
- Loans
109
7,208
46.6
4,338
385
4,055
133%
66%
-88%
7%
long term & short term) & security deposits steadily.
- Others 877 1,396 967 -37% 44% Decrease is primarily from loans given to related
Current tax assets (net) 1,530 82 1765%
Other current assets 3,295 2,334 1,295 41% 80%
companies primarily from loans given to African
Assets-held-for-sale 1,373 operations
17,671 11,421 14,789 55% -23%
Total Assets 190,742 185,028 151,529 3% 22%
Balance Sheet Liabilities
As of 31-03- As of 31-03- As of 01-04- FY 17/ FY
Particulars
2017 2016 2015 FY16 16/FY15
Equity and Liabilities
Equity
Share capital 1,999 1,999 1,999 0% 0% Liabilities of the company are
Other equity 99,209 109,730 103,740 -10% 6%
101,207 111,729 105,738 -9% 6% increasing much faster than assets in
Non-current liabilities both FY16 & FY17
Financial liabilities
- Borrowings 50,342 41,457 19,421 21% 113%
- Derivative instruments 18.6 0.8 12.1 2225% -93% Increase in both the periods has been
- Others 2,188 2,074 1,971 6% 5%
Deferred revenue 1,832 1,698 1,589 8% 7%
mainly due to increase in borrowings
Provisions 233 222 193 5% 15% (>80% of increase is contributed due
54,614 45,452 23,186 20% 96% to increase in borrowings)
Current liabilities 0 0
Financial liabilities 0 0
- Borrowings 6,548 700 626 836% 12% This when read along with reduction
- Current maturities of long-term
borrowings
3,345 3,343 1,317
0% 154% in cash impacting assets and
- Derivative instruments 166 69.6 22.3 139% 212% simultaneous increase in trade
- Trade Payables 14,970 11,971 10,577 25% 13%
- Others 5,567 7,877 6,525 -29% 21%
payables indicate a company striving
Deferred revenue 3,031 2,949 2,873 3% 3% hard to generate cash.
Provisions 129 119 117 9% 1%
Current tax liabilities (net) 50.7
Other current liabilities 1,164 819 497 42% 65%
34,920 27,847 22,605 25% 23%
Total Liabilities 89,534 73,299 45,791 22% 60%
Total Equity and Liabilities 190,742 185,028 151,529 3% 22%
P&L Statement
Particulars MAR'17( MAR'16( MAR'15( FY16/FY1
Cr.) Cr.) Cr.) FY17/FY 16 5
GROSS SALES 62,276.30 60,300.30 55,496.40 3.28 8.66 PAT is reducing yoy with drastic
Net Sales 62,276.30 60,300.30 55,496.40 3.28 8.66
EXPENDITURE: reduction in FY17
Increase/Decrease in Stock 1.4 -13.5 -63.8 110.37 78.84
Raw Materials Consumed 4.4 51 71.4 -91.37 -28.57
Power & Fuel Cost 6,509.30 5,758.90 4,115.10 13.03 39.95
This profit reduction has taken place
Employee Cost 1,738.50 1,864.80 1,691.50 -6.77 10.25 mainly due to exceptional items. In
Other Manufacturing Expenses 23,494.20 23,478.10 18,802.20 0.07 24.87 fact in FY17 operating profit has
General and Administration Expenses 2,488.80 2,775.30 7,331.40 -10.32 -62.15
Selling and Distribution Expenses 3,232.00 3,282.40 3,237.60 -1.54 1.38 actually risen by 9%
Miscellaneous Expenses 1,114.80 792.1 879.9 40.74 -9.98
Total Expenditure 38,583.40 37,989.10 36,065.30 1.56 5.33
PBIDT (Excl OI) 23,692.90 22,311.20 19,431.10 6.19 14.82 Interest outgo is increasing yoy
Other Income 2,526.40 1,743.70 5,193.00 44.89 -66.42 consistent with the rise in borrowings
Operating Profit 26,219.30 24,054.90 24,624.10 9.00 -2.31
Interest 5,254.60 3,545.30 1,409.10 48.21 151.60 seen in balance sheet.
PBDT 20,964.70 20,509.60 23,215.00 2.22 -11.65
Depreciation 12,203.40 9,575.30 7,559.70 27.45 26.66
Profit Before Taxation & Exceptional Items 8,761.30 10,934.30 15,655.30 -19.87 -30.16
Sharp rise in other manufacturing
Exceptional Income / Expenses -17,270.80 -679.9 0 -2440.20 0.00 expenses in FY16
Profit Before Tax -8,509.50 10,254.40 15,655.30 -182.98 -34.50
Provision for Tax 1,416.10 2474.1 2454.8 -42.76 0.79
PAT -9,925.60 7,780.30 13,200.50 -227.57 -41.06 Employee cost has decreased by 7%
Profit Balance B/F 93,473.50 87,526.30 48,496.50 6.79 80.48
Appropriations 83,547.90 95,306.60 61,697.00 -12.34 54.48
in FY17 reflecting the downsizing
Equity Dividend (%) 20 27.2 77 -26.47 -64.68 undertaken
EarningsPerShare(in) -24.83 19.46 33.02 -227.60 -41.07
BookValue(in) 252.19 278.55 195.21 -9.46 42.69
Revenue/ Profit Vs Asset
250,000.00
200,000.00
150,000.00
100,000.00
50,000.00
0.00
2015 2016 2017
-50,000.00
Vertical Analysis of
Current assets 0%
Inventories 39 53 94 0% 0% 0%
Financial assets 0% 0%
- Investments - 8 47,567 0% 3%
- Derivative instruments 634 462 168 0% 0% 0%