Debt to equity ratio 0.00 0.00 0.00 0.00 0.00 0.07 WHAT TO SAY ABOUT THIS?

O SAY ABOUT THIS? FOUND IN ABBOT INDIA

 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19
Sales 1,977.48 2,193.10 2,366.80 2,459.90 2,770.80 3,070.60
Sales Growth 10.90% 7.92% 3.93% 12.64% 10.82%
Receivables 115.22 144.1 144.8 195.1 158.4 224
Receivables/Sales 6% 7% 6% 8% 6% 7%
Receivables Growth 25.07% 0.49% 34.74% -18.81% 41.41%
Inventory 478.09 479.2 493.1 415.6 483.1 469.6
Inventory Growth 0.23% 2.90% -15.72% 16.24% -2.79%
Operating Profit 338.88 459.10 535.10 538.50 625.30 667.20
Net profit 263.61 321.50 304.20 326.00 380.60 414.20
Net profit Growth 21.96% -5.38% 7.17% 16.75% 8.83%
EPS 114.61 139.78 132.26 141.74 165.48 180.09
EPS Growth 21.96% -5.38% 7.17% 16.75% 8.83%
Operating Profit Margin 17.1% 20.9% 22.6% 21.9% 22.6% 21.7%
Net profit Margin 14.66% 12.85% 13.25% 13.74% 13.49%
Asset Turnover 0.91 0.93 0.89 0.93 0.95
Financial Leverage 1.50 1.48 1.35 1.37 1.34 1.33
Return on Equity 19.76% 16.16% 16.09% 17.15% 16.96%
Debt to equity ratio 0.00 0.00 0.00 0.00 0.00
Interest Coverage 1201.25 207.87 466.82 870.14 1998.67
Tax rate 33.15% 36.68% 36.65% 37.59% 30.96%
Cash Flow from operation 264.95 213.2 322.1 435.1 373.9 412.3
 Dec-20 5 YR AVGComments by Prasenjit Paul
2,901.90
-5.49% 5.96% Consistency is the key
148
5% More than 50% consistently would be a red flag and better to avoid
-33.93% 4.78% 5 yrs avg receivables growth should be near sales growth, upto within 20% variance
368
-21.64% -4.20% 5 yrs avg inventory growth should be near sales growth, upto within 20% variance
713.10
477.60
15.31% 8.53% Consistency is the key
207.65
15.31% 8.53% EPS growth should be same with profit growth for our preferred stocks
24.6% IT 22.67% Consistent trend or gradually improving trend is preferred
16.46% IT 13.96% Consistent trend or gradually improving trend is preferred
0.99 IT Higher the better
1.38 <3 SDT 1.35 Lower the better, our preference less than 4, less than 3 to be on safe side
22.54% IT 17.78% Higher the better, either 14%+ average or improving trend better
0.01 ? 0.00 Lower the better, Zero best, Less than 1 or declining trend preferred
375.22 DT Higher the better
29.47% 34.27% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Exemption
0 5 Years Total Cash Flow From Operations 1543.4
5 Yrs Total Profit after Tax 1,902.60
CFO/PAT (Preferred 0.8+) 0.81 ?
better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case

BUY Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Sales 446.08 476.37 483.59 500.64 616.18 846.40
Sales Growth 6.79% 1.52% 3.53% 23.08% 37.36%
Receivables 89.8 98.93 90.3 97.34 123.78 152.63
Receivables/Sales 20% 21% 19% 19% 20% 18%
Receivables Growth 10.17% -8.72% 7.80% 27.16% 23.31%
Inventory 82.72 70.54 63.16 111.41 85.18 105.69
Inventory Growth -14.72% -10.46% 76.39% -23.54% 24.08%
Operating Profit 84.53 86.63 90.98 95.19 117.28 164.35
Net profit 42.88 45.42 49.85 50.36 64.29 83.74
Net profit Growth 5.92% 9.75% 1.02% 27.66% 30.25%
EPS 21.02 22.26 24.44 24.69 31.51 41.05
EPS Growth 5.92% 9.75% 1.02% 27.66% 30.25%
Operating Profit Margin 18.9% 18.2% 18.8% 19.0% 19.0% 19.4%
Net profit Margin 9.53% 10.31% 10.06% 10.43% 9.89%
Asset Turnover 1.18 1.19 0.98 0.97 1.13
Financial Leverage 2.77 2.30 2.04 2.09 2.14 2.05
Return on Equity 25.98% 24.99% 20.51% 21.63% 22.94%
Debt to equity ratio 0.77 0.56 0.49 0.61 0.45
Interest Coverage 5.54 8.03 8.17 10.75 7.81
Tax rate 32.12% 31.22% 31.88% 32.87% 35.68%
Cash Flow from operation 45.94 60.65 101.39 63.48 101.6 144.21
 Mar-20 5 YR AVGComments by Prasenjit Paul
992.88
17.31% 16.56% Consistency is the key
164.22
17% More than 50% consistently would be a red flag and better to avoid
7.59% 11.43% 5 yrs avg receivables growth should be near sales growth, upto within 20% variance
83.67
-20.83% 9.13% 5 yrs avg inventory growth should be near sales growth, upto within 20% variance
257.02
215.28
157.08% 45.15% Consistency is the key
105.53
157.08% 45.15% EPS growth should be same with profit growth for our preferred stocks
25.9% IT 20.43% Consistent trend or gradually improving trend is preferred
21.68% IT 12.48% Consistent trend or gradually improving trend is preferred
1.27 IT Higher the better
1.46 DT 1.96 Lower the better, our preference less than 4, less than 3 to be on safe side
40.12% IT 26.04% Higher the better, either 14%+ average or improving trend better
0.16 DT 0.45 Lower the better, Zero best, Less than 1 or declining trend preferred
24.34 IT Higher the better
17.11% 29.75% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Exemption
187.72 5 Years Total Cash Flow From Operations 598.4
5 Yrs Total Profit after Tax 463.52
CFO/PAT (Preferred 0.8+) 1.29 OK
better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case

 Dec-13 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Sales 1,706.99 2,403.67 2,187.62 2,410.07 2,689.98 3,174.74
Sales Growth 40.81% -8.99% 10.17% 11.61% 18.02%
Receivables 353.73 345.64 505.33 500.32 591.12 622.39
Receivables/Sales 21% 14% 23% 21% 22% 20%
Receivables Growth -2.29% 46.20% -0.99% 18.15% 5.29%
Inventory 110.15 123.57 100.64 96.91 79.77 105.06
Inventory Growth 12.18% -18.56% -3.71% -17.69% 31.70%
Operating Profit 118.45 211.70 220.79 289.09 371.35 506.40
Net profit 86.16 114.20 141.19 169.45 249.73 358.84
Net profit Growth 32.54% 23.63% 20.02% 47.38% 43.69%
EPS 97.91 129.77 160.44 192.56 283.78 407.77
EPS Growth 32.54% 23.63% 20.02% 47.38% 43.69%
Operating Profit Margin 6.9% 8.8% 10.1% 12.0% 13.8% 16.0%
Net profit Margin 4.75% 6.45% 7.03% 9.28% 11.30%
Asset Turnover 1.62 1.24 1.23 1.11 1.10
Financial Leverage 1.70 1.68 1.72 1.65 1.71 1.65
Return on Equity 12.95% 13.81% 14.36% 17.60% 20.53%
Debt to equity ratio 0.00 0.00 0.00 0.00 0.00
Interest Coverage 401.77 69.68 110.75 99.32 84.50
Tax rate 35.56% 37.57% 44.86% 34.49% 35.33%
Cash Flow from operation 191.5 13.02 166.37 215.19 262.89 311.77
 Mar-20 5 YR AVGComments by Prasenjit Paul
3,290.01
3.63% 6.89% Consistency is the key
723.62
22% More than 50% consistently would be a red flag and better to avoid
16.26% 16.98% 5 yrs avg receivables growth should be near sales growth, upto within 20% varian
120.89
15.07% 1.36% 5 yrs avg inventory growth should be near sales growth, upto within 20% varianc
639.77
491.48
36.96% 34.34% Consistency is the key
558.50
36.96% 34.34% EPS growth should be same with profit growth for our preferred stocks
19.4% IT 14.26% Consistent trend or gradually improving trend is preferred
14.94% IT 9.80% Consistent trend or gradually improving trend is preferred
0.95 DT ? Higher the better
1.59 DT 1.67 Lower the better, our preference less than 4, less than 3 to be on safe side
22.56% IT 17.77% Higher the better, either 14%+ average or improving trend better
0.04 ? 0.01 Lower the better, Zero best, Less than 1 or declining trend preferred
67.45 DT Higher the better
28.41% 36.13% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Exem
329.97 5 Years Total Cash Flow From Operations 1286.19
5 Yrs Total Profit after Tax 1,410.69
CFO/PAT (Preferred 0.8+) 0.91 OK
better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case

 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Sales 4,018.06 4,539.85 4,592.72 4,821.80 5,589.04 7,099.59
Sales Growth 12.99% 1.16% 4.99% 15.91% 27.03%
Receivables 691.49 610.66 514.48 656.89 680.65 1028.75
Receivables/Sales 17% 13% 11% 14% 12% 14%
Receivables Growth -11.69% -15.75% 27.68% 3.62% 51.14%
Inventory 746.4 763.5 671.05 838.14 958.18 1224.74
Inventory Growth 2.29% -12.11% 24.90% 14.32% 27.82%
Operating Profit 505.29 717.46 962.52 969.39 906.24 1,297.00
Net profit 162.46 302.81 429.89 514.99 461.71 641.63
Net profit Growth 86.39% 41.97% 19.80% -10.35% 38.97%
EPS 28.30 52.75 74.89 89.72 80.44 111.59
EPS Growth 86.39% 41.97% 19.80% -10.35% 38.73%
Operating Profit Margin 12.6% 15.8% 21.0% 20.1% 16.2% 18.3%
Net profit Margin 6.67% 9.36% 10.68% 8.26% 9.04%
Asset Turnover 0.77 0.71 0.69 0.67 0.72
Financial Leverage 2.65 2.56 2.33 2.19 2.35 2.39
Return on Equity 13.19% 15.56% 16.18% 12.95% 15.54%
Debt to equity ratio 1.06 0.91 0.75 0.88 0.90
Interest Coverage 1.90 3.48 5.46 3.70 3.13
Tax rate 24.19% 26.51% 21.64% 20.62% 21.61%
Cash Flow from operation 346.72 542.35 1090.05 645.44 677.98 895.64
 Mar-20 5 YR AVGComments by Prasenjit Paul
7,209.41
1.55% 10.13% Consistency is the key
891.07
12% More than 50% consistently would be a red flag and better to avoid
-13.38% 10.66% 5 yrs avg receivables growth should be near sales growth, upto within 20% variance
1201.23
-1.92% 10.60% 5 yrs avg inventory growth should be near sales growth, upto within 20% variance
1,454.94
1,019.09
58.83% 29.84% Consistency is the key
177.23
58.83% 29.79% EPS growth should be same with profit growth for our preferred stocks
20.2% IT 19.15% Consistent trend or gradually improving trend is preferred
14.14% IT 10.29% Consistent trend or gradually improving trend is preferred
0.66 ? Higher the better
2.20 DT 2.29 Lower the better, our preference less than 4, less than 3 to be on safe side
20.66% IT 16.18% Higher the better, either 14%+ average or improving trend better
0.84 DT 0.86 Lower the better, Zero best, Less than 1 or declining trend preferred
4.07 IT Higher the better
-0.12% ? 18.05% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Exemption
1304.44 5 Years Total Cash Flow From Operations 4613.55
5 Yrs Total Profit after Tax 3,067.31
CFO/PAT (Preferred 0.8+) 1.50 OK
better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case

BUY Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Sales 1,111.59 1,852.54 2,012.34 1,966.26 1,968.51 2,081.50
Sales Growth 66.66% 8.63% -2.29% 0.11% 5.74%
Receivables 173.39 160.02 142.3 110.32 154.8 171.66
Receivables/Sales 16% 9% 7% 6% 8% 8%
Receivables Growth -7.71% -11.07% -22.47% 40.32% 10.89%
Inventory 151.5 387.9 360.68 321.9 297.06 386.66
Inventory Growth 156.04% -7.02% -10.75% -7.72% 30.16%
Operating Profit 239.27 414.09 432.88 350.13 500.64 565.63
Net profit 220.86 69.82 304.98 336.78 360.07 429.05
Net profit Growth -68.39% 336.81% 10.43% 6.92% 19.16%
EPS 74.11 15.28 66.74 73.69 78.79 93.88
EPS Growth -79.39% 336.81% 10.43% 6.92% 19.16%
Operating Profit Margin 21.5% 22.4% 21.5% 17.8% 25.4% 27.2%
Net profit Margin 3.77% 15.16% 17.13% 18.29% 20.61%
Asset Turnover 0.71 0.70 0.60 0.53 0.53
Financial Leverage 1.48 1.32 1.33 1.35 1.38 1.31
Return on Equity 3.54% 14.10% 13.92% 13.42% 14.25%
Debt to equity ratio 0.00 0.00 0.00 0.00 0.00
Interest Coverage 136.41 335.02 262.69 710.57 382.67
Tax rate 66.36% 35.17% 34.84% 34.28% 34.98%
Cash Flow from operation 132.45 113.47 345.48 328.82 331.8 97.81
 Mar-20 5 YR AVGComments by Prasenjit Paul
2,151.65
3.37% 3.11% Consistency is the key
172.03
8% More than 50% consistently would be a red flag and better to avoid
0.22% 3.58% 5 yrs avg receivables growth should be near sales growth, upto within 20% vari
430.59
11.36% 3.21% 5 yrs avg inventory growth should be near sales growth, upto within 20% varian
573.83
509.13
18.66% 78.39% Consistency is the key
111.41
18.66% 78.39% EPS growth should be same with profit growth for our preferred stocks
26.7% RANGEBOUND 23.72% Consistent trend or gradually improving trend is preferred
23.66% IT 18.97% Consistent trend or gradually improving trend is preferred
0.49 ? Higher the better
1.30 DT 1.33 Lower the better, our preference less than 4, less than 3 to be on safe side
14.99% IT 14.14% Higher the better, either 14%+ average or improving trend better
0.00 ZERO DEBT 0.00 Lower the better, Zero best, Less than 1 or declining trend preferred
57.36 DT BUT GOOD Higher the better
20.76% 32.01% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Exe
323.18 5 Years Total Cash Flow From Operations 1427.09
5 Yrs Total Profit after Tax 1,940.01
CFO/PAT (Preferred 0.8+) 0.74 OK
better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case

 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Sales 1,056.90 1,410.48 1,677.80 1,894.67 2,072.92 2,507.30
Sales Growth 33.45% 18.95% 12.93% 9.41% 20.95%
Receivables 145.08 232.72 227.12 338.5 306.73 339.1
Receivables/Sales 14% 16% 14% 18% 15% 14%
Receivables Growth 60.41% -2.41% 49.04% -9.39% 10.55%
Inventory 194.97 265.55 277.32 272.1 357.24 397
Inventory Growth 36.20% 4.43% -1.88% 31.29% 11.13%
Operating Profit 155.12 168.29 206.75 260.41 314.14 381.30
Net profit 78.91 75.89 100.95 144.68 175.09 195.80
Net profit Growth -3.83% 33.02% 43.32% 21.02% 11.83%
EPS 5.64 5.13 6.74 9.66 11.70 13.07
EPS Growth -9.03% 31.51% 43.32% 21.02% 11.75%
Operating Profit Margin 14.7% 11.9% 12.3% 13.7% 15.2% 15.2%
Net profit Margin 5.38% 6.02% 7.64% 8.45% 7.81%
Asset Turnover 1.21 1.29 1.30 1.24 1.19
Financial Leverage 2.20 1.88 1.84 1.73 1.65 1.74
Return on Equity 12.26% 14.25% 17.08% 17.20% 16.24%
Debt to equity ratio 0.33 0.28 0.27 0.19 0.23
Interest Coverage 3.30 3.35 9.91 10.50 7.88
Tax rate 28.62% 22.48% 27.98% 29.20% 30.38%
Cash Flow from operation 67.43 116.98 225.75 114.19 281.85 342
 Mar-20 5 YR AVGComments by Prasenjit Paul
2,577.90
2.82% 13.01% Consistency is the key
227.8
9% More than 50% consistently would be a red flag and better to avoid
-32.82% 3.00% 5 yrs avg receivables growth should be near sales growth, upto within 20% vari
540.4
36.12% 16.22% 5 yrs avg inventory growth should be near sales growth, upto within 20% varian
441.30
247.90
26.61% 27.16% Consistency is the key
16.45
25.85% 26.69% EPS growth should be same with profit growth for our preferred stocks
17.1% IT 14.71% Consistent trend or gradually improving trend is preferred
9.62% IT 7.91% Consistent trend or gradually improving trend is preferred
1.13 DT Higher the better
1.52 ? RBST <3 1.69 Lower the better, our preference less than 4, less than 3 to be on safe side
16.49% IT 16.25% Higher the better, either 14%+ average or improving trend better
0.13 DT 0.22 Lower the better, Zero best, Less than 1 or declining trend preferred
6.77 GOOD Higher the better
18.46% 25.70% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Exe
405.4 5 Years Total Cash Flow From Operations 1369.19
5 Yrs Total Profit after Tax 864.42
CFO/PAT (Preferred 0.8+) 1.58 OK
better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case

 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Sales 1,179.52 1,440.82 1,667.70 1,631.15 1,941.05 2,292.08
Sales Growth 22.15% 15.75% -2.19% 19.00% 18.08%
Receivables 68.22 82.08 108.69 123.18 173.45 222.57
Receivables/Sales 6% 6% 7% 8% 9% 10%
Receivables Growth 20.32% 32.42% 13.33% 40.81% 28.32%
Inventory 164 248.68 285.84 290.21 313.93 382.43
Inventory Growth 51.63% 14.94% 1.53% 8.17% 21.82%
Operating Profit 147.81 200.66 239.88 230.91 302.09 326.55
Net profit 65.64 103.05 120.28 119.95 161.07 175.44
Net profit Growth 56.99% 16.72% -0.27% 34.28% 8.92%
EPS 2.74 4.29 5.01 4.99 6.69 7.07
EPS Growth 56.99% 16.67% -0.36% 34.06% 5.67%
Operating Profit Margin 12.5% 13.9% 14.4% 14.2% 15.6% 14.2%
Net profit Margin 7.15% 7.21% 7.35% 8.30% 7.65%
Asset Turnover 1.71 1.67 1.52 1.55 1.42
Financial Leverage 2.37 2.29 2.08 1.77 1.64 1.46
Return on Equity 28.02% 25.06% 19.78% 21.16% 15.88%
Debt to equity ratio 0.65 0.49 0.29 0.20 0.10
Interest Coverage 6.72 6.76 10.84 27.36 28.84
Tax rate 27.76% 32.27% 32.62% 33.88% 34.53%
Cash Flow from operation 124.88 107.48 159.43 180.2 154.25 123.47
 Mar-20 5 YR AVGComments by Prasenjit Paul
2,410.48
5.17% 11.16% Consistency is the key
172.08
7% More than 50% consistently would be a red flag and better to avoid
-22.68% 18.44% 5 yrs avg receivables growth should be near sales growth, upto within 20% variance
447.74
17.08% 12.71% 5 yrs avg inventory growth should be near sales growth, upto within 20% variance
411.56
226.25
28.96% 17.72% Consistency is the key
9.12
28.91% 16.99% EPS growth should be same with profit growth for our preferred stocks
17.1% IT 15.08% Consistent trend or gradually improving trend is preferred
9.39% IT 7.98% Consistent trend or gradually improving trend is preferred
1.31 RBDT? Higher the better
1.45 DT+<3 1.68 Lower the better, our preference less than 4, less than 3 to be on safe side
17.78% OK 19.93% Higher the better, either 14%+ average or improving trend better
0.13 OK 0.24 Lower the better, Zero best, Less than 1 or declining trend preferred
14.00 Higher the better
22.44% 31.15% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Exemption
318.9 5 Years Total Cash Flow From Operations 936.25
5 Yrs Total Profit after Tax 802.99
CFO/PAT (Preferred 0.8+) 1.17
better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case

BUY Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Sales 696.13 771.73 630.95 640.79 729.68 1,127.92
Sales Growth 10.86% -18.24% 1.56% 13.87% 54.58%
Receivables 115.05 129.1 114.82 140.54 177.11 243.98
Receivables/Sales 17% 17% 18% 22% 24% 22%
Receivables Growth 12.21% -11.06% 22.40% 26.02% 37.76%
Inventory 46.63 54.49 44.7 65.07 82.23 92.39
Inventory Growth 16.86% -17.97% 45.57% 26.37% 12.36%
Operating Profit 152.89 192.08 206.78 217.84 198.29 425.01
Net profit 86.15 115.79 131.57 140.28 143.88 282.49
Net profit Growth 34.41% 13.63% 6.62% 2.57% 96.34%
EPS 8.75 11.22 12.75 13.59 14.00 27.48
EPS Growth 28.28% 13.63% 6.62% 2.97% 96.34%
Operating Profit Margin 22.0% 24.9% 32.8% 34.0% 27.2% 37.7%
Net profit Margin 15.00% 20.85% 21.89% 19.72% 25.05%
Asset Turnover 1.29 0.92 0.78 0.74 0.92
Financial Leverage 1.78 1.38 1.27 1.21 1.23 1.17
Return on Equity 26.68% 24.33% 20.63% 18.06% 26.87%
Debt to equity ratio 0.15 0.08 0.00 0.02 0.00
Interest Coverage 16.78 22.74 73.89 92.72 194.06
Tax rate 33.26% 29.48% 31.89% 29.26% 33.57%
Cash Flow from operation 131.46 112.56 167.49 130.43 138.33 200.36
 Mar-20 5 YR AVGComments by Prasenjit Paul
1,028.87
-8.78% 8.60% Consistency is the key
201.78
20% More than 50% consistently would be a red flag and better to avoid
-17.30% 11.56% 5 yrs avg receivables growth should be near sales growth, upto within 20% varia
93.17
0.84% 13.44% 5 yrs avg inventory growth should be near sales growth, upto within 20% varian
414.88
333.82
18.17% 27.46% Consistency is the key
32.47
18.17% 27.54% EPS growth should be same with profit growth for our preferred stocks
40.3% IT 34.39% Consistent trend or gradually improving trend is preferred
32.45% IT 23.99% Consistent trend or gradually improving trend is preferred
0.71 RBT Higher the better
1.13 DT + < 3 1.20 Lower the better, our preference less than 4, less than 3 to be on safe side
26.09% OK + IT 23.20% Higher the better, either 14%+ average or improving trend better
0.00 0 0.02 Lower the better, Zero best, Less than 1 or declining trend preferred
207.17 IT Higher the better
21.39% 29.12% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Exem
415.93 5 Years Total Cash Flow From Operations 1052.54
5 Yrs Total Profit after Tax 1,032.04
CFO/PAT (Preferred 0.8+) 1.02
better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case

NO BUY Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Sales 1,348.11 1,477.12 1,849.56 2,119.43 2,334.11 3,085.56
Sales Growth 9.57% 25.21% 14.59% 10.13% 32.19%
Receivables 52.3 76.7 90.08 102.08 155.61 183.86
Receivables/Sales 4% 5% 5% 5% 7% 6%
Receivables Growth 46.65% 17.44% 13.32% 52.44% 18.15%
Inventory 10.63 12.6 20.46 19.04 19.8 30.34
Inventory Growth 18.53% 62.38% -6.94% 3.99% 53.23%
Operating Profit 196.33 198.20 281.76 314.57 400.52 585.18
Net profit 56.05 12.76 98.11 95.79 124.70 189.83
Net profit Growth -77.23% 668.89% -2.36% 30.18% 52.23%
EPS 12.71 2.86 19.58 19.08 24.84 37.81
EPS Growth -77.49% 584.48% -2.56% 30.18% 52.23%
Operating Profit Margin 14.6% 13.4% 15.2% 14.8% 17.2% 19.0%
Net profit Margin 0.86% 5.30% 4.52% 5.34% 6.15%
Asset Turnover 1.03 0.97 0.95 0.99 0.80
Financial Leverage 3.39 3.49 2.15 2.31 2.18 2.57
Return on Equity 3.12% 11.13% 9.93% 11.60% 12.69%
Debt to equity ratio 1.83 0.75 0.85 0.77 0.86
Interest Coverage -0.84 0.73 0.90 1.32 1.34
Tax rate 6.51% 32.13% 37.29% 36.22% 36.66%
Cash Flow from operation 229.62 155.26 354.34 319.61 446.26 829.64
 Mar-20 5 YR AVG Comments by Prasenjit Paul
3,414.44
10.66% 18.56% Consistency is the key
189.26
6% More than 50% consistently would be a red flag and better to avoid
2.94% 20.86% 5 yrs avg receivables growth should be near sales growth, upto within 20% varianc
30.67
1.09% 22.75% 5 yrs avg inventory growth should be near sales growth, upto within 20% variance
1,076.05
27.30
-85.62% 132.66% Consistency is the key
4.95
-86.92% 115.48% EPS growth should be same with profit growth for our preferred stocks
31.5% IT 19.54% Consistent trend or gradually improving trend is preferred
0.80% DT 4.42% Consistent trend or gradually improving trend is preferred
0.46 ?? Higher the better
5.02 TOO HIGH 2.85 Lower the better, our preference less than 4, less than 3 to be on safe side
1.84% DT 9.44% Higher the better, either 14%+ average or improving trend better
0.87 OK 0.82 Lower the better, Zero best, Less than 1 or declining trend preferred
-0.81 DANGER Higher the better
70.03% 42.47% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Exemp
787.04 5 Years Total Cash Flow From Operations 2736.89
5 Yrs Total Profit after Tax 535.73
CFO/PAT (Preferred 0.8+) 5.11 TOO HIGHT
better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case

TOO HIGHT
NO BUY Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Sales 131.45 154.43 174.37 206.89 219.99 253.23
Sales Growth 17.48% 12.91% 18.65% 6.33% 15.11%
Receivables 23.87 26.34 26.18 28.66 27.96 32.93
Receivables/Sales 18% 17% 15% 14% 13% 13%
Receivables Growth 10.35% -0.61% 9.47% -2.44% 17.78%
Inventory 6.66 7.21 7.91 10.03 10.36 14.58
Inventory Growth 8.26% 9.71% 26.80% 3.29% 40.73%
Operating Profit 24.26 24.80 31.56 28.83 28.21 30.91
Net profit 14.52 17.12 22.42 21.80 19.97 24.51
Net profit Growth 17.91% 30.96% -2.77% -8.39% 22.73%
EPS 4.97 5.86 7.68 7.47 6.84 8.39
EPS Growth 17.91% 30.96% -2.77% -8.39% 22.73%
Operating Profit Margin 18.5% 16.1% 18.1% 13.9% 12.8% 12.2%
Net profit Margin 11.09% 12.86% 10.54% 9.08% 9.68%
Asset Turnover 1.19 1.17 1.36 1.32 1.35
Financial Leverage 1.28 1.24 1.23 1.32 1.29 1.29
Return on Equity 16.33% 18.61% 18.84% 15.52% 16.82%
Debt to equity ratio 0.00 0.00 0.02 0.00 0.00
Interest Coverage 41.56 171.85 134.12 105.06 172.40
Tax rate 35.13% 35.15% 35.49% 39.26% 29.33%
Cash Flow from operation 17.6 18.83 21.36 8.26 19.12 21.17
 Mar-20 5 YR AVGComments by Prasenjit Paul
261.48
3.26% 11.25% Consistency is the key
26.46
10% More than 50% consistently would be a red flag and better to avoid
-19.65% 0.91% 5 yrs avg receivables growth should be near sales growth, upto within 20% variance
23.72
62.69% 28.64% 5 yrs avg inventory growth should be near sales growth, upto within 20% variance
30.83
25.08
2.33% 8.97% Consistency is the key
8.59
2.33% 8.97% EPS growth should be same with profit growth for our preferred stocks
11.8% DT?? 13.77% Consistent trend or gradually improving trend is preferred
9.59% DT?? 10.35% Consistent trend or gradually improving trend is preferred
1.27 ?? Higher the better
1.29 SRBT 1.28 Lower the better, our preference less than 4, less than 3 to be on safe side
15.73% OK 17.10% Higher the better, either 14%+ average or improving trend better
0.01 GOOD <1 0.01 Lower the better, Zero best, Less than 1 or declining trend preferred
100.32 GOOD Higher the better
27.20% 33.29% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Exemptio
18.18 5 Years Total Cash Flow From Operations 88.09
5 Yrs Total Profit after Tax 113.78
CFO/PAT (Preferred 0.8+) 0.77 NOT OK
better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case

 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19
Sales 9,854.84 8,175.31 9,141.34 10,009.60 11,292.27 12,368.90
Sales Growth -17.04% 11.82% 9.50% 12.81% 9.53%
Receivables 99.1 78.42 97.93 88.97 124.59 124.33
Receivables/Sales 1% 1% 1% 1% 1% 1%
Receivables Growth -20.87% 24.88% -9.15% 40.04% -0.21%
Inventory 844.1 820.81 940.06 902.47 965.55 1283.07
Inventory Growth -2.76% 14.53% -4.00% 6.99% 32.88%
Operating Profit 2,032.09 1,554.93 1,828.62 2,096.53 2,617.65 2,864.30
Net profit 1,184.69 563.27 1,001.36 1,225.19 1,606.93 1,969.55
Net profit Growth -52.45% 77.78% 22.35% 31.16% 22.57%
EPS 122.89 58.43 103.88 127.09 166.69 204.31
EPS Growth -52.45% 77.78% 22.35% 31.16% 22.57%
Operating Profit Margin 20.6% 19.0% 20.0% 20.9% 23.2% 23.2%
Net profit Margin 6.89% 10.95% 12.24% 14.23% 15.92%
Asset Turnover 1.34 1.34 1.36 1.40 1.75
Financial Leverage 2.05 2.16 2.07 2.15 2.20 3.65
Return on Equity 19.99% 30.51% 35.82% 43.74% 101.93%
Debt to equity ratio 0.01 0.01 0.01 0.01 0.03
Interest Coverage 246.30 16.00 19.01 20.70 21.32
Tax rate 30.77% 35.20% 33.39% 33.84% 26.37%
Cash Flow from operation 1644.02 1098.1 1465.91 1817.79 2052.45 2233.67
 Dec-20 5 YR AVGComments by Prasenjit Paul
13,350.03
7.93% 10.32% Consistency is the key
164.93
1% More than 50% consistently would be a red flag and better to avoid
32.66% 17.64% 5 yrs avg receivables growth should be near sales growth, upto within 20% variance
1416.48
10.40% 12.16% 5 yrs avg inventory growth should be near sales growth, upto within 20% variance
3,215.47
2,082.43
5.73% 31.92% Consistency is the key
216.02
5.73% 31.92% EPS growth should be same with profit growth for our preferred stocks
24.1% IT 22.27% Consistent trend or gradually improving trend is preferred
15.60% IT 13.79% Consistent trend or gradually improving trend is preferred
1.69 IT Higher the better
3.91 IT 2.80 Lower the better, our preference less than 4, less than 3 to be on safe side
103.12% IT 63.02% Higher the better, either 14%+ average or improving trend better
0.07 <1 0.03 Lower the better, Zero best, Less than 1 or declining trend preferred
16.13 DT Higher the better
25.97% 30.95% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Exemptio
2454.48 5 Years Total Cash Flow From Operations 10024.3
5 Yrs Total Profit after Tax 7,885.46
CFO/PAT (Preferred 0.8+) 1.27 OK
better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case

 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Sales 10,927.39 11,913.41 11,275.89 13,260.83 16,119.77 19,778.52
Sales Growth 9.02% -5.35% 17.60% 21.56% 22.70%
Receivables 154.13 189.73 192.5 207.6 295.69 420.45
Receivables/Sales 1% 2% 2% 2% 2% 2%
Receivables Growth 23.10% 1.46% 7.84% 42.43% 42.19%
Inventory 3869.39 4049.3 4447.15 4925.74 5924.84 7038.82
Inventory Growth 4.65% 9.83% 10.76% 20.28% 18.80%
Operating Profit 1,047.23 1,152.34 939.33 1,163.90 1,644.20 1,993.79
Net profit 734.94 816.26 674.52 711.47 1,130.09 1,404.15
Net profit Growth 11.06% -17.36% 5.48% 58.84% 24.25%
EPS 8.28 9.19 7.60 8.01 12.73 15.82
EPS Growth 11.06% -17.36% 5.48% 58.84% 24.25%
Operating Profit Margin 9.6% 9.7% 8.3% 8.8% 10.2% 10.1%
Net profit Margin 6.85% 5.98% 5.37% 7.01% 7.10%
Asset Turnover 2.03 1.78 1.58 1.69 1.69
Financial Leverage 2.42 1.90 1.81 1.99 1.87 1.93
Return on Equity 26.47% 19.24% 16.81% 22.20% 23.13%
Debt to equity ratio 0.03 0.03 0.44 0.33 0.39
Interest Coverage 12.00 19.49 24.79 27.91 36.25
Tax rate 22.18% 22.07% 28.36% 27.97% 29.04%
Cash Flow from operation -554.72 502.6 576.09 1712.3 -51.12 1242.92
 Mar-20 5 YR AVGComments by Prasenjit Paul
21,051.54
6.44% 12.59% Consistency is the key
311.55
1% More than 50% consistently would be a red flag and better to avoid
-25.90% 13.61% 5 yrs avg receivables growth should be near sales growth, upto within 20% var
8102.98
15.12% 14.96% 5 yrs avg inventory growth should be near sales growth, upto within 20% varia
2,462.55
1,501.39
6.93% 15.63% Consistency is the key
16.91
6.93% 15.63% EPS growth should be same with profit growth for our preferred stocks
11.7% IT 9.82% Consistent trend or gradually improving trend is preferred
7.13% IT 6.52% Consistent trend or gradually improving trend is preferred
1.55 SRBT Higher the better
2.03 OK BUT IT 1.93 Lower the better, our preference less than 4, less than 3 to be on safe side
22.51% OK 20.78% Higher the better, either 14%+ average or improving trend better
0.53 IT 0.35 Lower the better, Zero best, Less than 1 or declining trend preferred
11.65 OK BUT DT Higher the better
28.98% 27.28% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Ex
-347.41 5 Years Total Cash Flow From Operations 3132.78
5 Yrs Total Profit after Tax 5,421.62
CFO/PAT (Preferred 0.8+) 0.58 NOT OK
better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case

 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Sales 7,058.12 7,795.49 7,868.77 7,613.59 7,721.85 8,514.99
Sales Growth 10.45% 0.94% -3.24% 1.42% 10.27%
Receivables 675.3 710.84 809.2 650.42 706.08 833.56
Receivables/Sales 10% 9% 10% 9% 9% 10%
Receivables Growth 5.26% 13.84% -19.62% 8.56% 18.05%
Inventory 972.51 973.27 1096.5 1106.71 1256.18 1300.53
Inventory Growth 0.08% 12.66% 0.93% 13.51% 3.53%
Operating Profit 1,159.11 1,316.41 1,518.28 1,511.49 1,615.07 1,735.99
Net profit 913.92 1,065.83 1,251.15 1,276.94 1,354.39 1,442.33
Net profit Growth 16.62% 17.39% 2.06% 6.07% 6.49%
EPS 5.24 6.07 7.11 7.25 7.69 8.17
EPS Growth 15.78% 17.21% 1.92% 6.07% 6.20%
Operating Profit Margin 16.4% 16.9% 19.3% 19.9% 20.9% 20.4%
Net profit Margin 13.67% 15.90% 16.77% 17.54% 16.94%
Asset Turnover 1.28 1.14 0.98 0.89 1.01
Financial Leverage 2.00 1.82 1.66 1.60 1.52 1.50
Return on Equity 31.78% 30.00% 26.34% 23.73% 25.61%
Debt to equity ratio 0.22 0.19 0.20 0.16 0.12
Interest Coverage 31.89 31.05 28.81 30.91 27.95
Tax rate 19.02% 19.30% 20.51% 19.81% 16.15%
Cash Flow from operation 1098.3 1047.21 1186.99 1226.94 1091.5 1499.13

SHOULD ASK WHY ROE IS DECREASING THOUGH AVG IS 25% AND FINANCIAL LEV IS DECRSNG NOT IDEAL CASE AS PE

IN MY VIEW OK STOCK AS ROE GOOD WITH DECREASING FL+GOOD A

 Mar-20 5 YR AVGComments by Prasenjit Paul
8,684.64
1.99% 2.28% Consistency is the key
813.89
9% More than 50% consistently would be a red flag and better to avoid
-2.36% 3.69% 5 yrs avg receivables growth should be near sales growth, upto within 20% variance
1379.57
6.08% 7.34% 5 yrs avg inventory growth should be near sales growth, upto within 20% variance
1,792.25
1,444.96
0.18% 6.44% Consistency is the key
8.18
0.14% 6.31% EPS growth should be same with profit growth for our preferred stocks
20.6% IT 20.22% Consistent trend or gradually improving trend is preferred
16.64% SRBIT 16.76% Consistent trend or gradually improving trend is preferred
0.93 Higher the better
1.41 OK 1.54 Lower the better, our preference less than 4, less than 3 to be on safe side
21.87% OK 25.51% Higher the better, either 14%+ average or improving trend better
0.08 OK 0.15 Lower the better, Zero best, Less than 1 or declining trend preferred
33.87 RBT+OK Higher the better
16.19% 18.39% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Exemptio
1613.62 5 Years Total Cash Flow From Operations 6618.18
5 Yrs Total Profit after Tax 6,769.77
CFO/PAT (Preferred 0.8+) 0.98
NOT IDEAL CASE AS PER RULE

DECREASING FL+GOOD AT+OPM

better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case

 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Sales 4,283.21 4,844.10 5,361.17 5,616.79 6,078.41 7,077.96
Sales Growth 13.10% 10.67% 4.77% 8.22% 16.44%
Receivables 524.4 586.11 701.59 768.54 938.13 1056.01
Receivables/Sales 12% 12% 13% 14% 15% 15%
Receivables Growth 11.77% 19.70% 9.54% 22.07% 12.57%
Inventory 599.68 641.04 627.43 720.86 804.33 934.45
Inventory Growth 6.90% -2.12% 14.89% 11.58% 16.18%
Operating Profit 664.96 765.84 1,173.48 1,261.89 1,341.22 1,369.92
Net profit 449.81 512.57 802.83 859.99 962.35 924.91
Net profit Growth 13.95% 56.63% 7.12% 11.90% -3.89%
EPS 8.78 10.00 15.66 16.77 18.95 18.21
EPS Growth 13.93% 56.63% 7.12% 12.98% -3.93%
Operating Profit Margin 15.5% 15.8% 21.9% 22.5% 22.1% 19.4%
Net profit Margin 10.58% 14.97% 15.31% 15.83% 13.07%
Asset Turnover 1.46 1.44 1.18 1.17 1.20
Financial Leverage 1.50 1.46 1.41 1.37 1.45 1.42
Return on Equity 22.57% 30.43% 24.78% 26.93% 22.30%
Debt to equity ratio 0.03 0.03 0.03 0.03 0.03
Interest Coverage 42.35 84.97 88.61 86.44 50.46
Tax rate 24.99% 29.24% 30.85% 28.90% 30.80%
Cash Flow from operation 393.84 552 907.47 793.75 796.43 844.78
 Mar-20 5 YR AVGComments by Prasenjit Paul
7,294.47
3.06% 8.63% Consistency is the key
1088.5
15% More than 50% consistently would be a red flag and better to avoid
3.08% 13.39% 5 yrs avg receivables growth should be near sales growth, upto within 20% vari
929.47
-0.53% 8.00% 5 yrs avg inventory growth should be near sales growth, upto within 20% varian
1,573.35
1,116.42
20.71% 18.49% Consistency is the key
21.97
20.68% 18.70% EPS growth should be same with profit growth for our preferred stocks
21.6% IT 21.47% Consistent trend or gradually improving trend is preferred
15.31% IT 14.90% Consistent trend or gradually improving trend is preferred
1.12 IT Higher the better
1.46 ST 1.42 Lower the better, our preference less than 4, less than 3 to be on safe side
25.06% OK 25.90% Higher the better, either 14%+ average or improving trend better
0.06 OK 0.04 Lower the better, Zero best, Less than 1 or declining trend preferred
42.74 OK BUT DT ??? Higher the better
23.66% 28.69% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Exe
1279.55 5 Years Total Cash Flow From Operations 4621.98
5 Yrs Total Profit after Tax 4,666.50
CFO/PAT (Preferred 0.8+) 0.99 OK
better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case

BUY Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Sales 2,801.38 3,249.05 3,439.94 3,940.77 4,831.91 5,397.65
Sales Growth 15.98% 5.88% 14.56% 22.61% 11.71%
Receivables 169.87 155.07 192.63 204.86 240.31 255.62
Receivables/Sales 6% 5% 6% 5% 5% 5%
Receivables Growth -8.71% 24.22% 6.35% 17.30% 6.37%
Inventory 576.67 659.01 683.52 888.76 810.12 888.6
Inventory Growth 14.28% 3.72% 30.03% -8.85% 9.69%
Operating Profit 211.53 331.36 370.28 488.84 560.70 642.17
Net profit 122.91 210.51 240.02 310.49 350.67 407.05
Net profit Growth 71.27% 14.02% 29.36% 12.94% 16.08%
EPS 9.69 16.59 18.91 24.47 27.63 32.08
EPS Growth 71.27% 14.02% 29.36% 12.94% 16.08%
Operating Profit Margin 7.6% 10.2% 10.8% 12.4% 11.6% 11.9%
Net profit Margin 6.48% 6.98% 7.88% 7.26% 7.54%
Asset Turnover 1.76 1.53 1.37 1.50 1.46
Financial Leverage 2.12 2.02 1.93 1.94 1.80 1.73
Return on Equity 22.99% 20.59% 20.94% 19.52% 19.00%
Debt to equity ratio 0.00 0.00 0.00 0.00 0.00
Interest Coverage 468.56 67.72 78.54 122.19 67.92
Tax rate 29.95% 32.57% 33.72% 35.16% 35.02%
Cash Flow from operation 203.62 299.91 343.77 383.55 384.24 402.48
 Mar-20 5 YR AVGComments by Prasenjit Paul
5,992.52
11.02% 13.16% Consistency is the key
281.6
5% More than 50% consistently would be a red flag and better to avoid
10.16% 12.88% 5 yrs avg receivables growth should be near sales growth, upto within 20% varianc
1198.89
34.92% 13.90% 5 yrs avg inventory growth should be near sales growth, upto within 20% variance
673.35
476.29
17.01% 17.88% Consistency is the key
37.53
17.01% 17.88% EPS growth should be same with profit growth for our preferred stocks
11.2% IT 11.58% Consistent trend or gradually improving trend is preferred
7.95% IT 7.52% Consistent trend or gradually improving trend is preferred
1.38 OK Higher the better
1.71 DT 1.82 Lower the better, our preference less than 4, less than 3 to be on safe side
18.70% OK 19.75% Higher the better, either 14%+ average or improving trend better
0.00 OK 0.00 Lower the better, Zero best, Less than 1 or declining trend preferred
31.89 OK Higher the better
27.05% 32.71% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Exemp
380.22 5 Years Total Cash Flow From Operations 1894.26
5 Yrs Total Profit after Tax 1,784.52
CFO/PAT (Preferred 0.8+) 1.06
better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case

 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Sales 2,275.91 2,289.33 2,614.50 2,902.56 3,298.50 3,678.60
Sales Growth 0.59% 14.20% 11.02% 13.64% 11.52%
Receivables 109.18 129.15 145.02 176.22 263.44 276.11
Receivables/Sales 5% 6% 6% 6% 8% 8%
Receivables Growth 18.29% 12.29% 21.51% 49.49% 4.81%
Inventory 359.05 384.13 370.1 500.63 585.33 606.79
Inventory Growth 6.99% -3.65% 35.27% 16.92% 3.67%
Operating Profit 267.28 312.25 364.62 397.51 524.78 604.74
Net profit 198.45 228.96 255.25 276.65 401.22 450.33
Net profit Growth 15.37% 11.48% 8.38% 45.03% 12.24%
EPS 93.61 108.00 120.40 130.50 189.25 212.42
EPS Growth 15.37% 11.48% 8.38% 45.03% 12.24%
Operating Profit Margin 11.7% 13.6% 13.9% 13.7% 15.9% 16.4%
Net profit Margin 10.00% 9.76% 9.53% 12.16% 12.24%
Asset Turnover 1.67 1.62 1.41 1.37 1.25
Financial Leverage 1.45 1.47 1.35 1.49 1.43 1.46
Return on Equity 24.42% 21.35% 19.95% 23.70% 22.42%
Debt to equity ratio 0.00 0.00 0.00 0.00 0.00
Interest Coverage 687.72 156.94 212.97 161.69 309.60
Tax rate 33.51% 35.87% 36.62% 35.44% 35.56%
Cash Flow from operation 155.31 214.78 248.68 307.22 152.7 499.13
 Mar-20 5 YR AVGComments by Prasenjit Paul
4,093.14
11.27% 12.33% Consistency is the key
317.91
8% More than 50% consistently would be a red flag and better to avoid
15.14% 20.65% 5 yrs avg receivables growth should be near sales growth, upto within 20% variance
527.17
-13.12% 7.82% 5 yrs avg inventory growth should be near sales growth, upto within 20% variance
757.00
592.93
31.67% 21.76% Consistency is the key
279.68
31.67% 21.76% EPS growth should be same with profit growth for our preferred stocks
18.5% IT 15.70% Consistent trend or gradually improving trend is preferred
14.49% IT 11.64% Consistent trend or gradually improving trend is preferred
1.15 OK BUT DT Higher the better
1.46 OK 1.44 Lower the better, our preference less than 4, less than 3 to be on safe side
24.38% OK 22.36% Higher the better, either 14%+ average or improving trend better
0.07 OK 0.01 Lower the better, Zero best, Less than 1 or declining trend preferred
93.10 OK Higher the better
26.13% 33.92% Preferred 30%+ till March 19(FY19), around 25% March 20 (FY20) onwards, Exempti
626.11 5 Years Total Cash Flow From Operations 1833.84
5 Yrs Total Profit after Tax 1,976.38
CFO/PAT (Preferred 0.8+) 0.93 OK
better to avoid
wth, upto within 20% variance

h, upto within 20% variance

r preferred stocks

3 to be on safe side
trend better
rend preferred

h 20 (FY20) onwards, Exemptions are separate case