Balance sheet

  Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06
Sources of funds
Owner's fund
Equity share capital 33.02 33.00 32.94 19.76 19.33
Share application money - - - - -
Preference share capital - - - - -
Reserves & surplus 360.98 351.80 330.83 289.61 269.47
Loan funds
Secured loans 106.55 126.59 57.24 73.42 64.92
Unsecured loans 144.04 72.09 24.33 60.59 54.62
Total 644.59 583.47 445.34 443.38 408.33
Uses of funds
Fixed assets
Gross block 389.74 340.84 271.19 260.19 200.62
Less : revaluation reserve - - - - -
Less : accumulated depreciation 207.69 163.17 166.14 147.16 126.13
Net block 182.05 177.66 105.05 113.03 74.48
Capital work-in-progress 7.94 17.58 15.79 2.79 20.89
Investments 201.22 184.80 178.50 170.20 145.64
Net current assets
Current assets, loans & advances 455.55 423.23 309.11 321.08 307.04
Less : current liabilities & provisions 202.16 219.80 163.10 163.72 139.72
Total net current assets 253.39 203.43 146.01 157.36 167.32
Miscellaneous expenses not written - - - - -
Total 644.59 583.47 445.34 443.38 408.33
Notes:
Book value of unquoted investments 201.22 184.80 178.50 170.20 145.64
Market value of quoted investments - - - - -
Contingent liabilities 181.88 213.73 212.78 186.23 38.02
Number of equity sharesoutstanding (Lacs) 1650.96 1649.83 1647.03 197.55 193.25

Profit loss account

  Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06
Income
Operating income 625.17 545.62 467.38 390.27 337.77
Expenses
Material consumed 76.86 17.73 17.17 4.11 15.83
Manufacturing expenses  158.35 153.21 104.78 82.35 82.75
   Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06
Personnel expenses 117.42 131.14 125.09 108.13 88.23
Selling expenses 56.29 48.20 46.84 36.83 15.32
Adminstrative expenses 110.40 110.21 107.25 85.35 66.46
Expenses capitalised - - - - -
Cost of sales 519.32 460.49 401.12 316.77 268.59
Operating profit 105.85 85.12 66.26 73.50 69.18
Other recurring income 29.82 26.07 33.94 5.24 2.53
Adjusted PBDIT 135.67 111.20 100.20 78.73 71.71
Financial expenses 32.47 23.03 20.89 16.51 21.16
Depreciation  54.18 40.24 35.82 31.40 23.76
Other write offs - - - - -
Adjusted PBT 49.02 47.92 43.49 30.83 26.79
Tax charges  14.81 16.31 10.36 0.31 1.89
Adjusted PAT 34.21 31.61 33.13 30.51 24.90
Non recurring items -5.01 14.57 -0.42 0.72 0.92
Other non cash adjustments 1.96 1.03 0.06 1.70 1.17
Reported net profit 31.17 47.21 32.77 32.93 26.99
Earnigs before appropriation 267.14 269.66 247.58 234.79 217.78
Equity dividend 23.11 21.45 21.41 14.26 11.59
Preference dividend - - - - -
Dividend tax 2.60 2.31 0.44 2.42 1.63
Retained earnings 241.43 245.90 225.73 218.10 204.56

ash flow
  Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06
Profit before tax 44.85 63.52 43.13 31.93 29.38
Net cashflow-operating activity 1.29 51.89 85.97 68.03 15.64
Net cash used in investing activity -3.95 -135.51 -36.58 -92.13 -27.18
Netcash used in fin. activity -8.40 81.16 -35.11 0.49 52.76
Net inc/dec in cash and equivlnt -11.06 -2.45 14.28 -23.62 41.22
Cash and equivalnt begin of year 39.93 42.38 28.40 52.01 10.80
Cash and equivalnt end of year 28.87 39.93 42.68 28.40 52.01

Quarterly results in brief

  Sep ' 10 Jun ' 10 Mar ' 10 Dec ' 09 Sep ' 09
Sales 175.72 141.84 150.43 145.87 204.95
Operating profit 25.49 13.10 26.14 17.21 25.35
Interest 7.01 6.14 -2.98 6.22 6.65
   Sep ' 10 Jun ' 10 Mar ' 10 Dec ' 09 Sep ' 09
Gross profit 22.91 13.02 43.85 15.84 24.53
EPS (Rs) 0.32 0.06 1.32 0.07 0.48

Quarterly results in details

  Sep ' 10 Jun ' 10 Mar ' 10 Dec ' 09 Sep ' 09
Other income 4.43 6.06 14.73 4.85 5.83
Stock adjustment -1.71 0.12 1.47 -0.40 -2.27
Raw material - - 9.72 - -
Power and fuel - - - - -
Employee expenses 38.32 34.48 31.20 28.55 28.69
Excise - - - - -
Admin and selling expenses - - - - -
Research and development expenses - - - - -
Expenses capitalised - - - - -
Other expenses 113.62 94.14 81.90 100.51 153.18
Provisions made - - - - -
Depreciation 14.60 14.03 13.82 13.36 13.76
Taxation 2.78 -1.98 9.29 1.33 2.83
Net profit / loss 5.21 0.97 21.87 1.15 7.94
Extra ordinary item - - - - -
Prior year adjustments -0.32 - 1.13 - -
Equity capital 33.02 33.02 33.02 33.02 33.02
Equity dividend rate - - - - -
Agg.of non-prom. shares (Lacs) 1090.23 1090.23 1090.23 1089.35 1089.35
Agg.of non promotoholding (%) 66.04 66.04 66.04 65.98 65.98
OPM (%) 14.51 9.24 17.38 11.80 12.37
GPM (%) 12.72 8.80 26.55 10.51 11.64
NPM (%) 2.89 0.66 13.24 0.76 3.77

Annual results in brief

  Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06
Sales 625.17 545.62 467.38 390.27 337.77
Operating profit 81.69 78.26 54.61 56.88 49.56
Interest 11.08 16.17 10.01 8.43 5.58
Gross profit 101.29 103.76 78.95 63.33 53.14
EPS (Rs) 1.89 2.86 1.99 3.33 2.85
Annual results in details
  Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06
Other income 30.68 41.67 34.35 14.88 9.16
Stock adjustment -0.89 1.88 0.85 -3.15 -1.44
Raw material - - - - -
Power and fuel - - - - -
Employee expenses 117.42 131.14 125.08 108.79 89.78
Excise - - - - -
Admin and selling expenses - - - - -
Research and development expenses - - - - -
Expenses capitalised - - - - -
Other expenses 426.95 334.34 286.84 227.75 199.87
Provisions made - - - - -
Depreciation 54.18 40.24 35.82 31.40 23.76
Taxation 14.81 16.31 10.36 0.31 1.89
Net profit / loss 31.17 47.21 32.77 32.94 27.49
Extra ordinary item - - - 1.32 -
Prior year adjustments -1.13 - - - -0.50
Equity capital 33.02 33.00 32.94 19.76 19.32
Equity dividend rate - - - - -
Agg.of non-prom. shares (Lacs) 1090.23 1088.22 1150.75 130.71 127.32
Agg.of non promotoHolding (%) 66.04 65.96 69.87 66.16 65.88
OPM (%) 13.07 14.34 11.68 14.57 14.67
GPM (%) 15.44 17.67 15.74 15.63 15.32
NPM (%) 4.75 8.04 6.53 8.13 7.92

Ratios
  Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06
Per share ratios
Adjusted EPS (Rs) 2.07 1.92 2.01 15.45 12.88
Adjusted cash EPS (Rs) 5.35 4.36 4.19 31.34 25.18
Reported EPS (Rs) 1.89 2.86 1.99 16.67 13.97
Reported cash EPS (Rs) 5.17 5.30 4.16 32.57 26.26
Dividend per share 1.40 1.30 1.30 6.50 6.00
Operating profit per share (Rs) 6.41 5.16 4.02 37.20 35.80
Book value (excl rev res) per share (Rs) 23.86 23.32 22.09 156.60 149.45
Book value (incl rev res) per share (Rs.) 23.86 23.32 22.09 156.60 149.45
   Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06
Net operating income per share (Rs) 37.87 33.07 28.38 197.55 174.79
Free reserves per share (Rs) 20.33 21.21 20.06 143.54 135.60
Profitability ratios
Operating margin (%) 16.93 15.60 14.17 18.83 20.48
Gross profit margin (%) 8.26 8.22 6.51 10.78 13.44
Net profit margin (%) 4.75 8.25 6.53 8.32 7.93
Adjusted cash margin (%) 13.49 12.56 13.75 15.65 14.29
Adjusted return on net worth (%) 8.68 8.21 9.10 9.86 8.62
Reported return on net worth (%) 7.91 12.26 9.00 10.64 9.34
Return on long term funds (%) 14.09 13.91 15.23 11.32 11.74
Leverage ratios
Long term debt / Equity 0.46 0.32 0.16 0.35 0.41
Total debt/equity 0.63 0.51 0.22 0.43 0.41
Owners fund as % of total source 61.12 65.94 81.68 69.77 70.72
Fixed assets turnover ratio 2.42 2.25 2.46 2.12 2.34
Liquidity ratios
Current ratio 2.25 1.93 1.90 1.96 2.20
Current ratio (inc. st loans) 1.66 1.38 1.48 1.50 2.20
Quick ratio 2.16 1.81 1.77 1.83 2.09
Inventory turnover ratio 61.70 59.04 42.02 32.59 38.28
Payout ratios
Dividend payout ratio (net profit) 82.48 50.33 66.68 50.66 48.98
Dividend payout ratio (cash profit) 30.12 27.17 31.86 25.93 26.05
Earning retention ratio 24.86 24.84 34.04 45.32 46.90
Cash earnings retention ratio 70.92 66.93 68.31 73.05 72.83
Coverage ratios
Adjusted cash flow time total debt 2.83 2.76 1.18 2.16 2.46
Financial charges coverage ratio 4.18 4.83 4.80 4.77 3.39
Fin. charges cov.ratio (post tax) 3.63 4.80 4.28 4.90 3.40
Component ratios
Material cost component (% earnings) 12.43 2.90 3.49 1.86 5.11
Selling cost Component 9.00 8.83 10.02 9.43 4.53
Exports as percent of total sales 9.36 11.03 13.70 21.20 20.20
Import comp. in raw mat. consumed - - - - -
Long term assets / total Assets 0.36 0.39 0.41 0.39 0.37
Bonus component in equity capital (%) 86.11 86.17 86.32 88.38 90.35

Ratios
   Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06
Per share ratios
   Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06
Adjusted EPS (Rs) 2.07 1.92 2.01 15.45 12.88
Adjusted cash EPS (Rs) 5.35 4.36 4.19 31.34 25.18
Reported EPS (Rs) 1.89 2.86 1.99 16.67 13.97
Reported cash EPS (Rs) 5.17 5.30 4.16 32.57 26.26
Dividend per share 1.40 1.30 1.30 6.50 6.00
Operating profit per share (Rs) 6.41 5.16 4.02 37.20 35.80
Book value (excl rev res) per share (Rs) 23.86 23.32 22.09 156.60 149.45
Book value (incl rev res) per share (Rs.) 23.86 23.32 22.09 156.60 149.45
Net operating income per share (Rs) 37.87 33.07 28.38 197.55 174.79
Free reserves per share (Rs) 20.33 21.21 20.06 143.54 135.60
Profitability ratios
Operating margin (%) 16.93 15.60 14.17 18.83 20.48
Gross profit margin (%) 8.26 8.22 6.51 10.78 13.44
Net profit margin (%) 4.75 8.25 6.53 8.32 7.93
Adjusted cash margin (%) 13.49 12.56 13.75 15.65 14.29
Adjusted return on net worth (%) 8.68 8.21 9.10 9.86 8.62
Reported return on net worth (%) 7.91 12.26 9.00 10.64 9.34
Return on long term funds (%) 14.09 13.91 15.23 11.32 11.74
Leverage ratios
Long term debt / Equity 0.46 0.32 0.16 0.35 0.41
Total debt/equity 0.63 0.51 0.22 0.43 0.41
Owners fund as % of total source 61.12 65.94 81.68 69.77 70.72
Fixed assets turnover ratio 2.42 2.25 2.46 2.12 2.34
Liquidity ratios
Current ratio 2.25 1.93 1.90 1.96 2.20
Current ratio (inc. st loans) 1.66 1.38 1.48 1.50 2.20
Quick ratio 2.16 1.81 1.77 1.83 2.09
Inventory turnover ratio 61.70 59.04 42.02 32.59 38.28
Payout ratios
Dividend payout ratio (net profit) 82.48 50.33 66.68 50.66 48.98
Dividend payout ratio (cash profit) 30.12 27.17 31.86 25.93 26.05
Earning retention ratio 24.86 24.84 34.04 45.32 46.90
Cash earnings retention ratio 70.92 66.93 68.31 73.05 72.83
Coverage ratios
Adjusted cash flow time total debt 2.83 2.76 1.18 2.16 2.46
Financial charges coverage ratio 4.18 4.83 4.80 4.77 3.39
Fin. charges cov.ratio (post tax) 3.63 4.80 4.28 4.90 3.40
Component ratios
Material cost component (% earnings) 12.43 2.90 3.49 1.86 5.11
Selling cost Component 9.00 8.83 10.02 9.43 4.53
   Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06
Exports as percent of total sales 9.36 11.03 13.70 21.20 20.20
Import comp. in raw mat. consumed - - - - -
Long term assets / total Assets 0.36 0.39 0.41 0.39 0.37
Bonus component in equity capital (%) 86.11 86.17 86.32 88.38 90.35