School of Management and Entrepreneurship, Shiv Nadar IoE

Dadri, Gautam Buddha Nagar, Greater Noida, 201314

Monsoon 2023 Semester
Introduction to Financial Accounting | FAC 102

Group Project & Presentation on Financial Statements Analysis

This project aims to test your ability to apply and demonstrate your skills in understanding,
interpreting, and analyzing the financial information contained in the financial statements of
Indian companies.

Groups will be formed by the Instructors and an industry will be allotted to each group. The
details on the group-wise industry allocation are given in the Excel sheet. The name of the
lead company and the two peer companies is also provided. You are required to evaluate
these firms and ascertain the strength and weaknesses of the lead company vis-à-vis its
competitor. All companies are listed on the National Stock Exchange or the Bombay Stock
Exchange. You should ensure that you have the latest five annual reports available, i.e. FY
2018-2019 to FY 2022-23.

 Please download all fifteen annual reports. Write to me in case any company annual report
is missing.
 Non-submission of your analysis due to lack of data will result in zero points in the project
component.
 The chosen set of firms is final and cannot be changed.
 Penalties will be imposed if you fail to meet the deadlines.
 You are also required to prepare a well-formatted Excel sheet presenting your analysis
 It would help if you took the Relaxo Footwear discussion as a template for preparing your
project report.
 All submissions will undergo a plagiarism check. Any violations will be dealt with strictly.
 All group members must be in cc in all communication via email related to group projects
and assignment
 This project and the assignment will have 20% weight in your total evaluation for the
Financial Reporting & Analysis course. Hence, high-quality work is expected from all
groups.
 The Excel sheet carries 5% weight to your total evaluation, the project report carries 7.5%
weight to your total evaluation, and the presentation carries 7.5% weight to your total
evaluation.
A. Equity Research Report: You must prepare a five-page analyst-style written report with
adequate margins and proper formatting (amounts should be in Rupees Crores and
comma formatted with zero decimal places). The report should be strictly five-page, with
no cover page and references. You are expected to make the maximum usage of margins
on the page and make the report as close as possible to that of a professional report
written by analysts. You are advised to refer to multiple analyst reports freely available
over the internet by reputed brokerages. Your report must cover the following points:

Page One: A brief on the economic outlook and the major macroeconomic factors that can
have a bearing on your lead company, a brief on the industry outlook, market segments,
projected growth rate, major players and competitors from India and abroad, and growth
drivers
Page Two: A brief on the lead company background, nature of its operations,
product/services offerings, and important strategies on
manufacturing/distribution/innovation/etc. of the lead company that set it apart from the
competitors, Key leading indicators of the lead firm which you think are important to
highlight
Page Three: Shareholding pattern, distribution of income among various segments
/geography/products, a summary of financial results over the previous three years along with
graphic charts depicting patterns in key figures such as EPS, Revenue, Market Capitalization,
ROE, Net Income, EBITDA, etc
Page Four: Interpretation of Du Pont Analysis and Ratio Analysis of the lead company with
its competitors. Focus on identifying the competitive advantage that the lead company has
over its competitors.
Page Five: Results overview of FY24Q1 performance with a focus on margin and revenue
growth of the lead company along with reasons, the stock performance of the lead company,
the two peers and the industry overall over the last five years, a summary of the latest
analyst’s commentary on the lead company, your assessment of its financial performance and
your position (buy/sell/hold) on its stock as an investor based on the PE ratio along with
rationale for the recommendation.
Note: You are not expected to forecast financials for this report and your recommendation
should be based on the financial data declared by the company including FY24Q1 result.

B. Excel File:
 The Excel sheet is a crucial component of this project report. You need to prepare one
Excel file which presents all the data in different Excel sheets. Strictly follow the Relaxo
Footwear Excel file for reference.
o Sheet One - all three financial statements for all three companies for five years
o Sheet Two – all ratios of all three companies
o Sheet Three – Common Size Statement of all three companies
o Sheet Four – Trend Analysis of all three companies
o Sheet Five – Market Strength Ratios and final call on the stock
 Ensure that all numbers in cell formulas in Sheets 2-5 are fetched from Sheet One.
 Don't copy ratios from the internet or any data source.

C. Poster Presentation:
 You are required to make a one-slide ten minute long recorded video presentation
 You must make maximum use of the entire space available on the slide to explain the
rationale of your decision to invest/not invest in the company
 All group members must equally contribute in the video presentation.
 Your video presentation should not exceed ten minutes and one slidedeck.

Deadlines
1. Deadline for submitting the Equity Research Report and the Excel File: 20 th
November 2023, 17:00 Hours
2. Deadline for submission of video Presentation: 30th November 2023, 17:00 Hours

Note:
1. All submissions will be via email and ensure to keep all group members in cc. Video
submission will be via google drive link to be shared later.
2. The email body must have the following declaration.

Declaration

"Our group certifies that this project is a result of our effort. Further, no part of this
project has been plagiarised from the internet or the company's annual report. We
further certify to not have used Chat GPT or any other large language model. We
understand that if our report is found to be plagiarized, all group members will be
awarded zero marks in the project report component and may be awarded an F grade
overall."