Final Score FY23 Data: WC Efficiency Metric Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin LTD

Final Score FY23 Data
WC Efficiency Metric Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin Ltd
Profitability 3.57 5.17 8.17 6.49 6.60
WC Efficiency 3.80 3.20 2.80 3.20 2.00
Liquidity 1.00 4.00 5.00 2.33 2.67
Solvency 1.00 2.33 5.00 2.67 4.00
Cash Flow Management 2.50 1.25 1.75 3.00 2.75
Degree of Leverage 3.67 3.00 3.67 2.33 2.67
Total Score 15.54 18.95 26.39 20.02 20.68
Final Rank 5 4 1 3 2
Prepared by:
Ritesh Kumar G23095
Suraj Das G230110
Return on Equity
Profitability Metric Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin Ltd Profitability Metric
ROE 6.11 5.74 15.58 30.00 21.34 GPM in %
GPM in % 42.12 15.42 42.95 50.59 29.51 EBITDA/GP
EBITDA/GP 0.30 0.76 0.80 0.57 0.46 EBIT/EBITDA
EBIT/EBITDA 0.69 0.78 0.94 0.84 0.84 1-T
EBT/EBIT 0.70 0.84 0.99 0.90 0.92 Net Op Revenue/IC
PAT/EBT 0.43 0.60 0.63 0.90 0.69 ROC
Asset Turn 0.84 0.80 0.63 0.86 1.98
EM 2.74 1.58 1.25 1.78 1.49
Ranking Based on ROE

Profitability Metric Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin Ltd
ROE 4 5 3 1 2 Profitability Metric
GPM in % 3 5 2 1 4 GPM in %
EBITDA/GP 5 2 1 3 4 EBITDA/GP
EBIT/EBITDA 5 4 1 3 2 EBIT/EBITDA
EBT/EBIT 5 4 1 3 2 1-T
PAT/EBT 5 4 3 1 2 Net Op Revenue/IC
Asset Turn 3 2 1 4 5 ROC
EM 5 3 1 4 2
Score matrix based on ROE Ranking

Profitability Metric Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin Ltd Weight Profitability Metric
ROE GPM in %
GPM in % 3 1 4 5 2 0.142857 EBITDA/GP
EBITDA/GP 1 4 5 3 2 0.142857 EBIT/EBITDA
EBIT/EBITDA 1 2 5 3 4 0.142857 1-T
EBT/EBIT 1 2 5 3 4 0.142857 Net Op Revenue/IC
PAT/EBT 1 2 3 5 4 0.142857 Total Score
Asset Turn 3 4 5 2 1 0.142857
EM 1 3 5 2 4 0.142857
Total Score 1.6 2.6 4.6 3.3 3.0
Total Score Profitability

Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin Ltd
ROE 1.57 2.57 4.57 3.29 3.00
ROC 2.00 2.60 3.60 3.20 3.60
Total Score Profitability 3.57 5.17 8.17 6.49 6.60
Return on Capital
42.12 15.42 42.95 50.59 29.51
0.30 0.76 0.80 0.57 0.46
0.69 0.78 0.94 0.84 0.84
0.43 0.74 0.72 0.71 0.76
1.54 1.12 0.78 1.30 2.63
5.83 7.60 18.27 22.24 23.06
Ranking Based on ROC

3 5 2 1 4
5 2 1 3 4
5 4 1 3 2
5 2 3 4 1
2 4 5 3 1
5 4 3 2 1
Ranking Based on ROC

Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin Ltd Weight
3 1 4 5 2 0.2
1 4 5 3 2 0.2
1 2 5 3 4 0.2
1 4 3 2 5 0.2
4 2 1 3 5 0.2
2.0 2.6 3.6 3.2 3.6
WC Efficiency
DaysReceivable 12.47 78.82 54.89 5.94 23.52
Days Inventory 142.00 74.58 96.38 72.59 59.70
Days Payable 98.73 60.27 15.43 57.96 20.45
CCC 55.75 93.12 135.84 20.57 62.77
WC Turn -22.73 2.04 1.52 -2,603.70 7.24
Ranking based on WC Efficiency

Days Receivable 4 1 2 5 3
Days Inventory 2 3 1 4 5
Days Payable 1 2 5 3 4
CCC 2 4 5 1 3
WC Turn 2 4 3 1 5
Score matrix based on WC Efficiency

WC Efficiency Metric Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin Ltd Weight
Days Receivable 2 5 4 1 3 0.2
Days Inventory 4 3 5 2 1 0.2
Days Payable 5 4 1 3 2 0.2
CCC 4 2 1 5 3 0.2
WC Turn 4 2 3 5 1 0.2
Total Score 3.8 3.2 2.8 3.2 2.0
Liquidity
CR= CA/CL 0.89 2.41 3.76 0.999 2.26
Quick Ratio 0.33 1.91 3.13 0.619 1.21
Cash Burn 52.85 260.69 359.33 76.554 53.47
Ranking based on Liquidity

CR= CA/CL 5 2 1 4 3
Quick Ratio 5 2 1 4 3
Cash Burn 5 2 1 3 4
Score based on Liquidity

CR= CA/CL 1 4 5 2 3 0.33
Quick Ratio 1 4 5 2 3 0.33
Cash Burn 1 4 5 3 2 0.33
Total Score 1 4.0 5.0 2.3 2.7
Solvency
D/E (Total Debt/OE)
Interest 0.74 0.34 0.02 0.32 0.16
Cover 3.37 6.11 75.91 9.99 12.07
Z-Score 2.63 6.07 151.86 5.90 25.85
Ranking based on Solvency

Solvency Metric Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin Ltd
D/E (Total Debt/OE)
Interest 5 4 1 3 2
Cover 5 4 1 3 2
Z-Score 5 3 1 4 2
Score matrix based on Solvency

D/E (Total Debt/OE)
Interest 1 2 5 3 4 0.333333
Cover 1 2 5 3 4 0.333333
Z-Score 1 3 5 2 4 0.333333
Total Score 1 2.3 5.0 2.7 4.0
Cash Flow Management
CF Mgmt Metric Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin Ltd
CFO to Capex 0.93 0.68 -0.06 2.816 1.61
CFO/Total Debt 0.36 0.21 2.73 1.474 1.69
CFO/Net Income 4.41 1.22 0.32 1.566 1.27
CFO/CL 0.29 0.16 0.27 1.182 0.84
Ranking based on CF Mgmt

CF Mgmt Metric Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin Ltd
CFO to Capex 3 4 5 1 2
CFO/Total Debt 4 5 1 3 2
CFO/Net Income 1 4 5 2 3
CFO/CL 3 5 4 1 2
Score based on Liquidity

CF Mgmt Metric Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin Ltd Weight
CFO to Capex 3 2 1 5 4 0.25
CFO/Total Debt 2 1 5 3 4 0.25
CFO/Net Income 5 2 1 4 3 0.25
CFO/CL 3 1 2 5 4 0.25
Total Score 2.5 1.3 1.8 3.0 2.8
Degree of Leverage
DOL Metric Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin Ltd
Degree of Operating Leverage 209.56 -2.92 1.69 0.59 2.16
Degree of FinancialLeverage 1.07 0.89 0.77 5.61 0.67
Degree of Combined Leverage 224.78 -2.61 1.29 3.30 1.46
Ranking based on DOL

DOL Metric Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin Ltd
Degree of Operating Leverage 4 1 2 5 2
Degree of FinancialLeverage 2 3 1 4 5
Degree of Combined Leverage 1 5 4 2 3
Score matrix based on WC Efficiency

Days Receivable 2 5 4 1 4 0.333333
Days Inventory 4 3 5 2 1 0.333333
Days Payable 5 1 2 4 3 0.333333
Total Score 3.7 3.0 3.7 2.3 2.7
Particulars Mar 23 Mar-22 Mar-21 Mar-20 Mar-19 Mar-18
Revenue From Operations [Net] 241,636.3 242,326.9 154,719.3 146,106.0 154,691.6
Total Expenses 226,686.4 195,032.3 142,813.5 147,432.5 143,287.4
Finance Costs 6,298.7 5,462.2 7,606.7 7,580.7 7,660.1
Other Expenses 80,518.9 76,616.3 51,212.4 50,702.9 50,410.5
CGS 139,868.9 112,953.8 83,994.3 89,148.9 85,216.8
GP 101,767.4 129,373.1 70,724.9 56,957.1 69,474.9
GPM in % 42.1 53.4 45.7 39.0 44.9
5 Year Average 45.0
D&A 9,335.2 9,100.9 9,233.6 8,707.7 7,341.8
EBITDA 30,583.7 61,857.6 28,746.1 14,961.9 26,406.2
SGA Advantage(EBITDA/GP) 0.3 0.5 0.4 0.3 0.4
5 Year Average 0.4
EBIT 21,248.5 52,756.8 19,512.5 6,254.2 19,064.4
D&A Advantage(EBIT/EBITDA) 0.7 0.9 0.7 0.4 0.7
5 Year Average 0.7
EBT 14,949.8 47,294.6 11,905.8 -1,326.5 11,404.3
Interest Advantage(EBT/EBIT) 0.7 0.9 0.6 -0.2 0.6
5 Year Average 0.5
Profit/Loss Before Tax 17,817.0 49,577.7 13,516.4 -1,568.4 15,681.0
Total Tax Expenses 10,159.8 8,477.6 5,653.9 -2,552.9 6,718.4
Tax(Adjusted EBT) 8,524.8 8,087.1 4,980.2 -2,159.2 4,886.1
PAT or EAT 6,425.0 39,207.4 6,925.6 832.7 6,518.2
Tax Advantage(PAT/EBT) 0.4 0.8 0.6 -0.6 0.6
5 Year Average 0.4
Total Assets 288,021.7 285,445.6 245,487.2 250,419.5 233,582.4
Asset Turn 0.8 0.8 0.6 0.6 0.7
5 Year Average 0.7
Total Shareholders Funds 103,082.1 114,443.0 73,460.0 71,301.3 66,650.1
Minority Interest 2,093.1 2,655.4 3,269.7 2,586.6 2,364.5
IC Turn(Net Op Revenue/IC(LTD+OE)) 1.5 1.5 1.1 0.9 1.0
Owners’ Equity 105,175.2 117,098.5 76,729.7 73,887.9 69,014.5
EM 2.7 2.4 3.2 3.4 3.4
5 Year Average 3.0
Du Pont ROE 6.1 33.5 9.0 1.1 9.4
5 Year Average 11.8
Tax Rate 0.6 0.2 0.4 1.6 0.4
1-T 0.4 0.8 0.6 -0.6 0.6
5 Year Average 0.4
Long Term Borrowings 51,446.3 44,764.1 65,698.0 94,105.0 80,342.7
IC 156,621.5 161,862.5 142,427.7 167,992.9 149,357.3
IC Turn 1.5 1.5 1.1 0.9 1.0
5 Year Average 1.2
Dupont ROC % 5.8 27.0 8.0 -2.3 7.3
Cost Of Materials Consumed 101,483.1 75,763.7 45,292.5 53,592.8 54,309.1
Purchase Of Stock-In Trade 15,114.1 15,312.9 9,808.3 10,504.2 6,568.0
Changes In Inventories Of FG,WIP And Stock-
-3,358.9 -7,597.9 1,516.8 -490.1 -96.7
In Trade
Employee Benefit Expenses 22,419.3 23,264.1 19,908.8 19,152.2 18,758.9
Cost of material
Purchase of stock% 42.0 31.3 29.3 36.7 35.1
in trade %
Ch in inv of 6.3 6.3 6.3 7.2 4.2
FG/WIP
Employee % Benefit -1.4 -3.1 1.0 -0.3 -0.1
Expenses % 9.3 9.6 12.9 13.1 12.1
Finance Costs 2.6 2.3 4.9 5.2 5.0
D&A expense 3.9 3.8 6.0 6.0 4.7
Other Expenses 33.3 31.6 33.1 34.7 32.6
Total Expenses(excluding Tax) 89.6 77.0 88.7 102.7 88.3
Trade Receivables 8,257.2 12,246.4 9,539.8 7,884.9 11,811.0
DR(TR/Net Op Revenue)*365 12.5 18.4 22.5 19.7 27.9
5 Year Average 20.2
Inventories 54,415.3 48,824.4 33,276.4 31,068.7 31,656.1
DI(Inventories/CGS)*365 142.0 157.8 144.6 127.2 135.6
5 Year Average 141.4
Trade Payables 37,832.5 36,764.9 25,967.5 21,380.9 21,717.0
DP 98.7 118.8 112.8 87.5 93.0
CCC 55.7 57.4 54.3 59.4 70.4
Total Current Assets 86,665.5 92,556.6 60,211.9 58,732.7 58,991.0 34,643.91
Total Current Liabilities 97,295.1 90,588.0 70,867.1 61,660.9 61,034.1 25,607.34
WC -10,629.6 1,968.6 -10,655.2 -2,928.2 -2,043.1 9,036.57
WC Turn -22.7 123.1 -14.5 -49.9 -75.7
5 Year Average -8.0
CR= CA/CL 0.9 1.0 0.8 1.0 1.0
5 Year Average 0.1
Monetary CA 32,250.2 43,732.2 26,935.5 27,664.0 27,334.9
Quick Ratio 0.3 0.5 0.4 0.4 0.4
5 Year Average 0.4
Projected
Current
Cash Tax 5,361.3 7,049.9 4,288.3 2,113.6 6,728.1
Expenses 222,712.6 192,981.3 137,868.1 140,838.5 142,673.7
Cash Burn 52.9 82.7 71.3 71.7 69.9
5 Year Average 69.7
D/E (LT/OE) 0.5 0.4 0.9 1.3 1.2
5 Year Average 0.8
Short Term Borrowings 26,571.4 24,064.6 14,969.0 19,184.5 10,802.1
Total Debt 78,017.7 68,828.7 80,667.0 113,289.5 91,144.8
D/E (Total Debt/OE) 0.7 0.6 1.1 1.5 1.3
5 Year Average
Interest 1.0
Cover 3.4 9.7 2.6 0.8 2.5
5 Year Average 3.8
Total Assets 288,021.7 285,445.6 245,487.2 250,419.5 233,582.4
WC/TA 0.0 0.0 0.0 0.0 0.0
Reserves and Surplus 101,860.9 113,221.8 72,262.4 70,156.4 65,505.1
RE/TA 0.4 0.4 0.3 0.3 0.3
EBIT/TA 0.1 0.2 0.1 0.0 0.1
Sales/TA 0.8 0.8 0.6 0.6 0.7
MV of Equity 142,807.3 336,199.3 28,147.6 -86,930.5 91,398.4
BV of Debt 78,017.7 68,828.7 80,667.0 113,289.5 91,144.8
P/E 18.7 8.2 3.6 -88.3 10.3
Profit/Loss For The Period 7,657.2 41,100.2 7,862.5 984.5 8,873.6
MV of Equity/BV of Debt 1.8 4.9 0.3 -0.8 1.0
Z-Score 2.6 5.0 1.5 0.6 1.9
5 Year Average 2.3
Tangible Assets 127,919.3 124,504.2 128,454.5 128,053.8 118,451.0 90,322.78
Intangible Assets 13,100.6 4,472.5 2,976.0 2,442.4 1,994.3 1,682.66
Capital Work-In-Progress 30,307.9 21,227.6 18,128.7 18,862.1 17,956.5 16,159.80
Delta Net Capex 21,123.5 645.0 201.0 10,956.4 30,236.6
Net change in WC -12,598.2 12,623.8 -7,727.0 -885.0 -11,079.7
Gross Capex 30,458.7 9,745.9 9,434.7 19,664.1 37,578.4
CFO 28,358.4 35,684.5 23,886.3 10,425.4 24,939.7
CFO to Capex 0.9 3.7 2.5 0.5 0.7
5 Year Average 1.7
CFO/Total Debt 0.4 0.5 0.3 0.1 0.3
5 Year Average 0.3
CFO/Net Income 4.4 0.9 3.4 12.5 3.8
5 Year Average 5.0
CFO/CL 0.3 0.4 0.3 0.2 0.4
5 Year Average 0.3
%Change in EBIT -59.7 170.4 212.0 -67.2
% Change in Op Rev -0.3 56.6 5.9 -5.6
DOL(%Change in EBIT/% Change in Op Rev) 209.6 3.0 36.0 12.1
4 Year Average 65.2
% Change in PBT -64.1 266.8 -961.8 -110.0
4 Year Average
DFL(% Change in PBT/%Change in EBIT) 1.1 1.6 -4.5 1.6
4 Year Average -0.1
DCL 224.8 4.7 -163.1 19.8
4 Year Average 21.5
Profitability
ROE 6.11
GPM in % 42.12
SGA Advantage(EBITDA/GP) 0.30
D&A Advantage(EBIT/EBITDA) 0.69
Interest Advantage(EBT/EBIT) 0.70
Tax Advantage(PAT/EBT) 0.43
Asset Turn 0.84
EM 2.74
1-T 0.43
ROC 5.83
WC Efficiency
DaysReceivable 12.47
Days Inventory 142.00
Days Payable 98.73
CCC 55.75
WC Turn -22.73
Liquidity
CR= CA/CL 0.8907
Quick Ratio 0.33
Cash Burn 52.85
D/E (Total Debt/OE)
Interest 0.74
Cover 3.37
Solvency
WC/TA -0.03691
RE/TA 0.35
EBIT/TA 0.07
Sales/TA 0.84
MV of Equity/BV of Debt 1.83
Z-Score 2.63

CFO to Capex 0.93
CFO/Total Debt 0.36
CFO/Net Income 4.41
CFO/CL 0.29
Degree of Leverage
Degree of Operating Leverage 209.56
Degree of FinancialLeverage 1.07
Degree of Combined Leverage 224.78
18.654114365
Particulars Mar 23 Mar-22 Mar-21 Mar-20 Mar-19 Mar-18
Total Expenses 1,730.70 1,426.55 975.49 1,054.29 1,239.20
Finance Costs 28.10 13.21 6.77 8.05 6.63
Other Expenses 117.36 73.37 52.24 89.22 352.12
CGS 1,585.24 1,339.97 916.48 957.02 880.45
GP 288.93 335.79 249.96 218.43 503.31
GPM in % 15.416424337173 20.038072278 21.429306265 18.5826704666 36.3726368734
5 Year Average 22.367822044024
D&A 48.9 45.88 44.15 42.62 38.4
EBITDA 220.47 308.30 241.87 171.83 189.59
EBITDA/GP 0.7630567957637 0.9181333572 0.9676348216 0.78665934167 0.37668633645
5 Year Average 0.7624341305222
EBIT 171.57 262.42 197.72 129.21 151.19
EBIT/EBITDA 0.7782011157981 0.8511839118 0.8174639269 0.75196415061 0.79745767182
5 Year Average 0.7992541553815
EBT 143.47 249.21 190.95 121.16 144.56
EBT/EBIT 0.8362184531095 0.949660849 0.9657596601 0.93769832056 0.95614789338
5 Year Average 0.9290970352396
Profit/Loss Before Tax 225.06 325.84 255.04 167.9 192.5
Total Tax Expenses 58.03 82.92 64.74 30.79 60.45
Tax(Adjusted EBT) 36.992642406469 63.41914191 48.471231964 22.2186801668 45.3955948052
PAT or EAT 85.44 166.29 126.21 90.37 84.11
PAT/EBT 0.5955251969053 0.6672685687 0.6609583661 0.74587322549 0.58183453237
5 Year Average 0.6502919779016
Total Assets 2,350.54 2,257.52 1,650.36 1,364.41 1,377.34
Asset Turn 0.7973359313179 0.7423012864 0.706779127 0.86150790452 1.00466115846

5 Year Average 0.8225170815288
Total Shareholders Funds 1,489.48 1,367.46 1,154.22 963.93 890.57
Minority Interest 0.00 0.00 0.00 0.00 0.00
Net Op Revenue/IC(LTD+OE) 1.1 1.1 1.0 1.2 1.6

Owners’ Equity 1,489.48 1,367.46 1,154.22 963.93 890.57
EM 1.5780943685044 1.6508855835 1.429848729 1.41546585333 1.5465825258
5 Year Average 1.5241754120269
Du Pont ROE 5.736230093724 12.160501953 10.934657171 9.37516209683 9.44451306467
5 Year Average 9.530212875765
Tax Rate 0.2578423531503 0.2544807267 0.2538425345 0.18338296605 0.31402597403
1-T 0.7421576468497 0.7455192733 0.7461574655 0.81661703395 0.68597402597
5 Year Average 0.7472850891062
Long Term Borrowings 184.99 189.52 18.38 0.00 0.00
IC 1,674.47 1,556.98 1,172.60 963.93 890.57

IC Turn 1.1192616171087 1.0762887128 0.9947467167 1.21943502122 1.55379139203
5 Year Average 1.1927046919632
Dupont ROC % 7.6 12.6 12.6 10.9 11.6
Cost Of Materials Consumed 1,173.24 968.92 545.73 585.43 800.28
Purchase Of Stock-In Trade 14.25 27.86 41.46 51.09 8.62
Changes In Inventories Of FG,WIP And Stock-In Trade -2.52 -29.51 24.67 -12.05 -20.39
Employee Benefit Expenses 64.98 59.56 57.34 57.73 53.55
Purchase of stock
Cost of material % 62.600511159607 57.819735523 46.785946984 49.8047556255 57.8337283922
in
Chtrade
in inv%of 0.7603365756575 1.6625292405 3.5544048558 4.3464205198 0.62294039429
FG/WIP
Employee % Benefit -0.134459520748 -1.7609920275 2.1149823394 -1.02513930835 -1.4735214199
Expenses % 3.4671347849982 3.5542082398 4.9158122149 4.91131056191 3.8698907325
Finance Costs 1.4993303702439 0.7882990404 0.5803984774 0.68484410226 0.47912932879
D&A expense 2.6091549859404 2.7378622237 3.7850210898 3.6258454209 2.77504769613
Other Expenses 6.2619719662571 4.3783119301 4.4785844107 7.59028457187 25.4466092386
Trade Receivables 404.7 317.73 249.1 235.51 355.86
5 Year Average 78.6
Inventories 323.9 217.61 118.95 125.97 154.43
5 Year Average 58.7
Trade Payables 261.77 455.52 235.49 314.99 330.45
DP 60.3 124.1 93.8 120.1 137.0
CCC 93.1 4.4 31.5 1.0 20.9
Total Current Assets 1,570.26 1,557.54 1,028.27 785.74 775.62
Total Current Liabilities 650.91 667.87 439.13 355.16 435.64
WC 919.35 889.67 589.14 430.58 339.98
WC Turn 2.0385816065699 1.8835748086 1.9799029093 2.72992243021 4.07012177187
5 Year Average 2.5404207053223
CR= CA/CL 2.4124072452413 2.3321005585 2.3416072689 2.21235499493 1.78041502158
5 Year Average 0.175513607662
Monetary CA 1,246.36 1,339.93 909.32 659.77 621.19
Quick Ratio 1.9147962083852 2.006273676 2.0707307631 1.85766978263 1.42592507575
5 Year Average 1.8550791011767
Projected
Cash
Current Tax 63.25 88.6 68.45 47.75 63.55
Expenses 1,745.05 1,469.27 999.79 1,059.42 1,264.35
Cash Burn 260.69247299504 332.86900978 331.97151402 227.309329633 179.328785542
5 Year Average 266.43422239371
D/E (LT/OE) 0.1241977065822 0.1385927193 0.0159241739 0 0
5 Year Average 0.0557429199663
Short Term Borrowings 321.36 150 150 0 0
Total Debt 506.35 339.52 168.38 0.00 0.00
D/E (Total Debt/OE) 0.3399508553321 0.2482851418 0.1458820675 0 0
5 Year Average
Interest 0.1468236129342
Cover 6.1056939501779 19.865253596 29.205317578 16.050931677 22.8039215686
5 Year Average 18.806223673827
Total Assets 2,350.54 2,257.52 1,650.36 1,364.41 1,377.34
WC/TA 0.3911228909102 0.3940917467 0.3569766596 0.31557962782 0.24683810824
Reserves and Surplus 1,467.61 1,345.60 1,132.35 942.07 868.7
RE/TA 0.6243714210352 0.5960523052 0.6861230277 0.69045961258 0.63070846705
EBIT/TA 0.0729917380687 0.1162426025 0.1198041639 0.09470027338 0.10976955581
Sales/TA 0.7973359313179 0.7423012864 0.706779127 0.86150790452 1.00466115846
MV of Equity 3115.1095 1987.0856 681.274 -12107.696 1360.115
BV of Debt 506.35 339.52 168.38 0.00 0.00
P/E 18.65 8.18
3.58 -88.3 10.3
Profit/Loss For The Period 167.03 242.92 190.3 137.12 132.05
MV of Equity/BV of Debt 6.1520874888911 5.852631951 4.0460505998 #DIV/0! #DIV/0!

Z-Score 6.0721312828894 5.9441220672 4.9180006791 #DIV/0! #DIV/0!
5 Year Average #DIV/0!
Tangible Assets 599.12 358 381.64 417.28 420.31
Intangible Assets 0.32 0.42 0.8 1.22 2.16
Capital Work-In-Progress 17.87 154.33 10.67 5.22 5.09
Delta Net Capex 104.56 119.64 -30.61 -3.84 427.56

Net change in WC 29.68 300.53 158.56 90.60 339.98
Gross Capex 153.46 165.52 13.54 38.78 465.96
CFO 104.66 -88.36 11.80 42.39 -217.47
CFO to Capex 0.6820018245797 -0.5338327695 0.8714918759 1.09308922125 -0.466713881
5 Year Average 0.3292072542555
CFO/Total Debt 0.2066949738323 -0.2602497644 0.0700795819 #DIV/0! #DIV/0!
5 Year Average #DIV/0!
CFO/Net Income 1.2249531835206 -0.5313608756 0.0934949687 0.46907159456 -2.5855427416
5 Year Average -0.265876774089
CFO/CL 0.1607902782259 -0.1323011963 0.0268713137 0.11935465706 -0.4991965843
5 Year Average -0.064896306332
%Change in EBIT -34.62007468943 32.723042687 53.022211903 -14.5379985449
% Change in Op Rev 11.840000954791 43.664483385 -0.766514952 -15.0539110828
DOL(%Change in EBIT/% Change in Op Rev) -2.923992558921 0.7494201271 -69.17309543 0.96572900324
4 Year Average -17.5954847144
% Change in PBT -30.9292904493 27.760351317 51.899940441 -12.7792207792
4 Year Average
DFL(% Change in PBT/%Change in EBIT) 0.8933917886302 0.8483426063 0.9788339373 0.87902201529
4 Year Average 0.8998975868662
DCL -2.612270942156 0.6357650238 -67.70897335 0.84889705465
4 Year Average -17.20914555419
Profitability
ROE 5.74
GPM in % 15.42
EBITDA/GP 0.76
EBIT/EBITDA 0.78
EBT/EBIT 0.84
PAT/EBT 0.60
Asset Turn 0.80
EM 1.58
1-T 0.74
ROC 7.60
WC Efficiency
Days Payable 60.27
CCC 93.12
WC Turn 2.04
Liquidity
CR= CA/CL 2.4124
Quick Ratio 1.91
Cash Burn 260.69
D/E (Total Debt/OE)
Interest 0.34
Cover 6.11
Solvency
WC/TA 0.39112
RE/TA 0.62
EBIT/TA 0.07
Sales/TA 0.80
Z-Score 6.07

CFO to Capex 0.68
CFO/Total Debt 0.21
CFO/Net Income 1.22
CFO/CL 0.16
Degree of Leverage
Degree of Operating Leverage -2.92
Degree of Combined Leverage -2.61
Particulars Mar 23 Mar-22 Mar-21 Mar-20 Mar-19
Total Expenses 12,025.8 13,626.0 6,826.1 6,002.1 5,547.6
Finance Costs 75.2 39.1 16.8 9.9 40.3
Other Expenses 1,874.3 2,357.6 2,277.7 2,211.1 1,837.9
CGS 10,076.2 11,229.3 4,531.6 3,781.1 3,669.4
GP 7,584.9 14,652.4 10,838.5 7,917.7 8,482.7
GPM in % 42.9 56.6 70.5 67.7 69.8
5 Year Average 61.5
D&A 336.2 287.7 228.5 294.9 279.0
EBITDA 6,046.7 12,582.5 8,789.3 6,001.5 6,923.9
EBITDA/GP 0.8 0.9 0.8 0.8 0.8
5 Year Average 0.8
EBIT 5,710.6 12,294.8 8,560.7 5,706.6 6,644.9
EBIT/EBITDA 0.9 1.0 1.0 1.0 1.0
5 Year Average 1.0
EBT 5,635.3 12,255.7 8,543.9 5,696.7 6,604.5
EBT/EBIT 1.0 1.0 1.0 1.0 1.0
5 Year Average 1.0
Profit/Loss Before Tax 7,646.6 12,974.2 8,895.5 6,115.0 7,194.0
Total Tax Expenses 2,108.2 3,582.3 2,648.5 2,512.7 2,556.5
Tax(Adjusted EBT) 1,553.7 3,383.9 2,543.8 2,340.8 2,347.0
PAT or EAT 3,527.1 8,673.5 5,895.5 3,184.0 4,048.0
PAT/EBT 0.6 0.7 0.7 0.6 0.6
5 Year Average 0.6
Total Assets 28,247.7 44,851.6 36,929.8 31,294.4 29,891.2
Asset Turn 0.6 0.6 0.4 0.4 0.4
5 Year Average 0.5
Net Op Revenue/IC(LTD+OE) 0.8 0.7 0.5 0.4 0.5

Owners’ Equity 22,635.1 35,000.4 29,897.6 27,681.1 26,057.9
EM 1.2 1.3 1.2 1.1 1.1
5 Year Average 1.2
Du Pont ROE 15.6 24.8 19.7 11.5 15.5
5 Year Average 17.4
Tax Rate 0.3 0.3 0.3 0.4 0.4
1-T 0.7 0.7 0.7 0.6 0.6
5 Year Average 0.7
Long Term Borrowings 0.0 1,668.2 546.4 0.0 0.0
IC 22,635.1 36,668.6 30,444.0 27,681.1 26,057.9
IC Turn 0.8 0.7 0.5 0.4 0.5
5 Year Average 0.6
Dupont ROC % 18.3 24.3 19.7 12.1 16.4
Cost Of Materials Consumed 771.0 626.0 410.2 394.4 426.4
Purchase Of Stock-In Trade
Changes In Inventories Of FG,WIP And Stock-In Trade -496.6 -1,200.5 -161.8 -53.8 -79.2
Cost of material %
Purchase of stock 4.4 2.4 2.7 3.4 3.5
in
Chtrade
in inv%of 0.0 0.0 0.0 0.0 0.0
FG/WIP
Employee % Benefit -2.8 -4.6 -1.1 -0.5 -0.7
Expenses % 8.7 5.2 7.1 9.0 8.6
Finance Costs 0.4 0.2 0.1 0.1 0.3
D&A expense 1.9 1.1 1.5 2.5 2.3
Other Expenses 10.6 9.1 14.8 18.9 15.1

5 Year Average 51.9
Inventories 2,660.6 2,164.9 921.7 723.5 666.2

5 Year Average 75.4
Trade Payables 425.9 967.5 360.8 225.9 202.8
DP 15.4 31.4 29.1 21.8 20.2

5 Year Average 23.6
CCC 135.8 80.6 96.0 117.4 88.9
Total Current Assets 15,807.2 15,810.8 10,600.2 7,348.0 7,977.3
Total Current Liabilities 4,201.4 6,934.4 5,535.7 2,779.5 3,064.8
WC 11,605.8 8,876.4 5,064.5 4,568.5 4,912.5

WC Turn 1.5 2.9 3.0 2.6 2.5
5 Year Average 2.5
CR= CA/CL 3.8 2.3 1.9 2.6 2.6
5 Year Average 0.4
Monetary CA 13,146.6 13,645.9 9,678.5 6,624.5 7,311.1
Quick Ratio 3.1 2.0 1.7 2.4 2.4
5 Year Average 2.3
Projected
Current Tax 1,664.7 3,444.4 2,316.5 1,555.6 2,752.7
Cash
Expenses 13,354.2 16,782.7 8,914.1 7,262.8 8,021.3
Cash Burn 359.3 296.8 396.3 332.9 332.7
D/E (LT/OE) 0.0 0.0 0.0 0.0 0.0
5 Year Average 0.0
Short Term Borrowings 416.0 1,815.1 1,448.0 565.6 364.2
Total Debt 416.0 3,483.4 1,994.5 565.6 364.2

D/E (Total Debt/OE) 0.0 0.1 0.1 0.0 0.0
5 Year Average
Interest 0.0
Cover 75.9 314.8 509.3 577.6 164.8
Total Assets 28,247.7 44,851.6 36,929.8 31,294.4 29,891.2
WC/TA 0.4 0.2 0.1 0.1 0.2

RE/TA 0.8 0.8 0.8 0.9 0.9

EBIT/TA 0.2 0.3 0.2 0.2 0.2
Sales/TA 0.6 0.6 0.4 0.4 0.4
MV of Equity 103,278.5 76,820.9 22,365.9 -318,014.2 47,761.8
BV of Debt 416.0 3,483.4 1,994.5 565.6 364.2
P/E 18.7 8.2
3.6 -88.3 10.3
Profit/Loss For The Period 5,537.7 9,391.3 6,247.5 3,601.5 4,637.1

Z-Score 151.9 16.0 9.2 -335.0 81.2
5 Year Average -15.3
Tangible Assets 2,388.8 4,165.1 3,321.0 3,261.0 3,198.5
Capital Work-In-Progress 1,991.6 18,324.5 17,106.5 15,500.2 13,818.9
Delta Net Capex -17,929.2 2,079.4 1,730.2 1,978.4 17,237.4

Net change in WC 2,729.4 3,811.9 496.0 -343.9 4,912.5
Gross Capex -17,593.0 2,367.1 1,958.7 2,273.3 17,516.5
CFO 1,133.9 5,149.3 5,628.0 3,822.8 -585.4
CFO to Capex -0.1 2.2 2.9 1.7 0.0
5 Year Average 1.3
CFO/Total Debt 2.7 1.5 2.8 6.8 -1.6
5 Year Average 2.4
CFO/Net Income 0.3 0.6 1.0 1.2 -0.1
5 Year Average 0.6
CFO/CL 0.3 0.7 1.0 1.4 -0.2
5 Year Average 0.6
%Change in EBIT -53.6 43.6 50.0 -14.1
% Change in Op Rev -31.8 68.4 31.4 -3.7
DOL(%Change in EBIT/% Change in 1.7 0.6 1.6 3.8
4 Year Average 1.9
% Change in PBT -41.1 45.9 45.5 -15.0
4 Year Average 8.8
DFL(% Change in PBT/%Change in E 0.8 1.1 0.9 1.1
4 Year Average 0.9
DCL 1.3 0.7 1.4 4.0
4 Year Average 1.9
Profitability
ROE 15.58
GPM in % 42.95
EBITDA/GP 0.80
EBIT/EBITDA 0.94
EBT/EBIT 0.99
PAT/EBT 0.63
Asset Turn 0.63
EM 1.25
1-T 0.72
ROC 18.27
WC Efficiency
Days Payable 15.43
CCC 135.84
WC Turn 1.52
Liquidity
CR= CA/CL 3.7624
Quick Ratio 3.13
Cash Burn 359.33
D/E (Total Debt/OE)
Interest 0.02
Cover 75.91
Solvency
WC/TA 0.41086
RE/TA 0.79
EBIT/TA 0.20
Sales/TA 0.63
Z-Score 151.86

CFO to Capex -0.06
CFO/Total Debt 2.73
CFO/Net Income 0.32
CFO/CL 0.27
Degree of Leverage
Degree of Operating Leverage 1.69
Degree of Combined Leverage 1.29
Particulars Mar 23 Mar-22 Mar-21 Mar-20
Revenue From Operations [Net] 59,911.22 50,720.93 38,373.79 36,676.09
Total Expenses 46,913.13 39,556.61 31,091.05 37,080.17
Finance Costs 1,445.89 1,887.71 3,093.33 4,149.34
Other Expenses 15,867.48 13,073.47 12,961.12 13,460.37
CGS 29,599.76 24,595.43 15,036.60 19,470.46
GP 30,311.46 26,125.50 23,337.19 17,205.63
GPM in % 50.59 51.51 60.82 46.91
D&A 2,690.95 2,096.78 3,453.34 3,867.23
EBITDA 17,134.93 15,148.81 13,829.41 7,612.49
EBITDA/GP 0.57 0.58 0.59 0.44
5 Year Average 0.53
EBIT 14,443.98 13,052.03 10,376.07 3,745.26
EBIT/EBITDA 0.84 0.86 0.75 0.49
5 Year Average 0.65
EBT 12,998.09 11,164.32 7,282.74 -404.08
EBT/EBIT 0.90 0.86 0.70 -0.11
5 Year Average 0.33
Profit/Loss Before Tax 4,485.64 11,173.07 7,295.64 -245.84
Total Tax Expenses 1,292.28 2,924.53 1,768.71 153.86
Tax(Adjusted EBT) 3,744.65 2,922.24 1,765.58 252.90

PAT or EAT 11,705.81 8,239.79 5,514.03 -557.94
PAT/EBT 0.90 0.74 0.76 1.38
5 Year Average 0.91
Total Assets 69,427.23 76,643.54 77,840.42 89,741.95
Asset Turn 0.86 0.66 0.49 0.41

5 Year Average 0.57
Total Shareholders Funds 38,706.59 35,624.66 31,814.67 32,137.14
Minority Interest 312.53 1,470.54 -877.70 -776.44
Net Op Revenue/IC(LTD+OE) 1.3 1.1 0.7 0.6

Owners’ Equity 39,019.12 37,095.20 30,936.97 31,360.70
EM 1.78 2.07 2.52 2.86
5 Year Average 2.40
Du Pont ROE 30.00 22.21 17.82 -1.78
Tax Rate 0.29 0.26 0.24 -0.63
1-T 0.71 0.74 0.76 1.63
5 Year Average 0.94
Long Term Borrowings 7,207.63 8,434.30 20,230.40 27,896.53
IC 46,226.75 45,529.50 51,167.37 59,257.23

IC Turn 1.30 1.11 0.75 0.62
5 Year Average 0.88
Dupont ROC % 22.2 21.2 15.4 10.3
Cost Of Materials Consumed 22,388.31 18,959.86 9,271.31 14,233.34
Purchase Of Stock-In Trade 2,453.95 2,319.10 1,239.07 573.54
Changes In Inventories Of FG,WIP And Stock-In Trade -144.61 -776.52 211.38 -220.36
Employee Benefit Expenses 1,134.25 870.66 899.86 1,112.08
Purchase of stock
Cost of material % 37.37 37.38 24.16 38.81
in
Chtrade
in inv%of 4.10 4.57 3.23 1.56
FG/WIP
Employee % Benefit -0.24 -1.53 0.55 -0.60
Expenses % 1.89 1.72 2.34 3.03
Finance Costs 2.41 3.72 8.06 11.31
D&A expense 4.49 4.13 9.00 10.54
Other Expenses 26.48 25.78 33.78 36.70
Total Expenses(excluding Tax) 76.15 72.22 76.41 100.68
Trade Receivables 974.47 1,264.07 2,794.40 3,549.26
DR(TR/Net Op Revenue)*365 5.9 9.1 26.6 35.3

Inventories 5,886.78 7,281.36 5,942.57 6,368.71
DI(Inventories/CGS)*365 72.6 108.1 144.3 119.4

Trade Payables 4,700.44 5,251.94 4,038.29 5,567.13
DP 58.0 77.9 98.0 104.4

CCC 20.57 39.21 72.80 50.35
Total Current Assets 15,475.68 26,608.85 20,319.06 15,990.88
Total Current Liabilities 15,498.69 22,702.27 19,279.46 23,243.14
WC -23.01 3,906.58 1,039.60 -7,252.26

WC Turn -2,603.70 12.98 36.91 -5.06
CR= CA/CL 0.9985 1.17 1.05 0.69
5 Year Average 0.19
Monetary CA 9,588.90 19,327.49 14,376.49 9,622.17
Quick Ratio 0.62 0.85 0.75 0.41
5 Year Average 0.60
Projected
Cash
Current Tax 1,496.63 2,466.92 9.21 12.14
Expenses 45,718.81 39,926.75 27,646.92 33,225.08

Cash Burn 76.55 176.69 189.80 105.71
D/E (LT/OE) 0.18 0.23 0.65 0.89
5 Year Average 0.58
Short Term Borrowings 5,227.66 4,427.67 1,320.80 2,778.87
Total Debt 12,435.29 12,861.97 21,551.20 30,675.40

D/E (Total Debt/OE) 0.32 0.35 0.70 0.98
5 Year Average
Interest 0.68
Cover 9.99 6.91 3.35 0.90
5 Year Average 4.35
Total Assets 69,427.23 76,643.54 77,840.42 89,741.95
WC/TA -0.00033 0.05 0.01 -0.08

Reserves and Surplus 38,606.09 35,523.59 31,712.67 32,035.14
RE/TA 0.56 0.46 0.41 0.36

EBIT/TA 0.21 0.17 0.13 0.04
Sales/TA 0.86 0.66 0.49 0.41
MV of Equity 74,119.58 55,345.55 15,276.00 35,293.51
BV of Debt 12,435.29 12,861.97 21,551.20 30,675.40
P/E 18.65 8.18 3.58 -88.30
Profit/Loss For The Period 3,974.24 6,765.96 4,267.04 -399.70
MV of Equity/BV of Debt 5.96 4.30 0.71 1.15

Z-Score 5.90 4.51 1.94 1.64
5 Year Average 2.90
Tangible Assets 40,803.51 42,243.99 51,874.69 67,218.62
Intangible Assets 2,683.23 2,795.74 1,974.44 1,552.73
Capital Work-In-Progress 7,105.90 1,736.20 890.28 1,974.50
Delta Net Capex 3,816.71 -7,963.48 -16,006.44 -1,165.51

Net change in WC -3,929.59 2,866.98 8,291.86 -160.18
Gross Capex 6,507.66 -5,866.70 -12,553.10 2,701.72
CFO 18,326.35 7,469.59 675.51 3,469.47
CFO to Capex 2.82 -1.27 -0.05 1.28
5 Year Average 0.58
CFO/Total Debt 1.47 0.58 0.03 0.11
5 Year Average 0.50
CFO/Net Income 1.57 0.91 0.12 -6.22
CFO/CL 1.18 0.33 0.04 0.15
5 Year Average 0.44
%Change in EBIT 10.66 25.79 177.05 47.24
% Change in Op Rev 18.12 32.18 4.63 -5.94
DOL(%Change in EBIT/% Change in Op Rev) 0.59 0.80 38.25 -7.96
4 Year Average 7.92
% Change in PBT -59.85 53.15 -3,067.64 -91.23
4 Year Average
DFL(% Change in PBT/%Change in EBIT) 5.61 2.06 -17.33 -1.93
DCL 3.30 1.65 -662.71 15.37
Mar-19 Profitability
38,990.58 ROE 30.00
40,711.11 GPM in % 50.59
4,264.19 EBITDA/GP 0.57
13,807.22 EBIT/EBITDA 0.84
22,639.70 EBT/EBIT 0.90
16,350.88 PAT/EBT 0.90
41.94 Asset Turn 0.86
EM 1.78
5,480.35 1-T 0.71
8,024.01 ROC 22.24
0.49
WC Efficiency
2,543.66 DaysReceivable 5.94
0.32 Days Inventory 72.59
Days Payable 57.96
-1,720.53 CCC 20.57
-0.68 WC Turn -2,603.70
-2,801.69 Liquidity
-390.17 CR= CA/CL 0.9985
-239.61 Quick Ratio 0.62
-1,330.36 Cash Burn 76.55
0.77 D/E (Total Debt/OE)
Interest 0.32
Cover 9.99
89,585.32
0.44 Solvency
WC/TA -0.00033
32,380.94 RE/TA 0.56
-301.07 EBIT/TA 0.21
0.6 Sales/TA 0.86
32,079.87 MV of Equity/BV of Debt 5.96
2.79 Z-Score 5.90
-4.15 Cash Flow Management

CFO to Capex 2.82
0.14 CFO/Total Debt 1.47
0.86 CFO/Net Income 1.57
CFO/CL 1.18
29,940.22
62,020.09 Degree of Leverage

0.63 Degree of Operating Leverage 0.59
3.5 Degree of Combined Leverage 3.30
15,274.37
1,186.46
-225.97
1,071.85
39.17
3.04
-0.58
2.75
10.94
14.06
35.41
105.41
3,029.19
28.4
6,509.53
104.9
5,220.76
84.2
49.13
14,311.42
21,403.50
-7,092.08
-5.50
0.67
7,801.89
0.36
51.58
35,282.34
80.71
0.93
4,825.89
34,766.11
1.08
0.60
89,585.32
-0.08
32,279.35
0.36
0.03
0.44
-24,838.66
34,766.11
10.30
-2,411.52
-0.71
0.51
67,003.67
2,002.18
2,905.51
71,911.36
-7,092.08
77,391.71
11,242.07
0.15
0.32
-8.45
0.53
Particulars Mar 23 Mar-22 Mar-21 Mar-20 Mar-19
Revenue From
3,187.36 2,623.78 2,048.85 2,103.11 2,424.67
Operations [Net]
Total Expenses 2,852.18 2,416.61 1,942.80 2,060.01 2,347.57
Finance Costs 30.27 42.46 56.90 74.18 113.53
Other Expenses 575.27 486.99 349.26 391.24 381.97
CGS 2,246.64 1,887.16 1,536.64 1,594.59 1,852.07
GP 940.72 736.62 512.21 508.52 572.60
GPM in % 29.51 28.07 25.00 24.18 23.62
D&A 67.48 69.75 67.87 63.62 60.86
EBITDA 432.93 319.38 230.82 180.90 251.49
EBITDA/GP 0.46 0.43 0.45 0.36 0.44
5 Year Average 0.43
EBIT 365.45 249.63 162.95 117.28 190.63
EBIT/EBITDA 0.84 0.78 0.71 0.65 0.76
5 Year Average 0.75
EBT 335.18 207.17 106.05 43.10 77.10
EBT/EBIT 0.92 0.83 0.65 0.37 0.40
5 Year Average 0.63
Total Tax Expenses 104.78 54.85 36.44 209.73 -227.46
Tax(Adjusted EBT) 79.16 33.63 20.58 61.43 -108.45

PAT or EAT 230.40 152.32 69.61 -166.63 304.56
PAT/EBT 0.69 0.74 0.66 -3.87 3.95
5 Year Average 0.43
Total Assets 1,608.64 1,511.19 1,475.11 1,470.23 6,012.71
Asset Turn 1.98 1.74 1.39 1.43 0.40

5 Year Average 1.39
Total Shareholders Funds 1,079.71 927.52 714.36 615.38 230.93
Minority Interest
Net Op Revenue/IC(LTD+O 2.6 2.5 2.3 2.4 1.0

Owners’ Equity 1,079.71 927.52 714.36 615.38 230.93
EM 1.49 1.63 2.06 2.39 26.04
5 Year Average 6.72
Du Pont ROE 21.34 16.42 9.74 -27.08 131.88
Tax Rate 0.24 0.16 0.19 1.43 -1.41
1-T 0.76 0.84 0.81 -0.43 2.41
5 Year Average 0.88
Long Term Borrowings 130.54 121.04 186.29 250.99 2,269.73
IC 1,210.25 1,048.56 900.65 866.37 2,500.66

IC Turn 2.63 2.50 2.27 2.43 0.97
5 Year Average 2.16
Dupont ROC % 23.1 19.9 14.6 -5.8 18.3

Changes In Inventories Of FG,WIP And
-12.98 -57.55 9.63 67.34 -80.95
Stock-In Trade
Purchase of stock
Cost of material % 56.45 58.25 56.27 54.66 65.42
in
Chtrade
in inv%of 0.62 0.62 0.40 0.38 0.29
FG/WIP
Employee % Benefit -0.41 -2.19 0.47 3.20 -3.34
Expenses % 11.70 12.59 14.55 14.55 11.50
Finance Costs 0.95 1.62 2.78 3.53 4.68
D&A expense 2.12 2.66 3.31 3.03 2.51
Other Expenses 18.05 18.56 17.05 18.60 15.75
Total Expenses(excluding 86.20 90.01 93.05 87.98 106.20
DR(TR/Net Op
23.5 34.4 38.7 31.6 32.7
Revenue)*365
Inventories 367.46 296.36 254.86 229.08 242.96

Trade Payables 125.90 175.20 239.96 266.02 218.35
DP 20.5 33.9 57.0 60.9 43.0

CCC 62.77 57.81 42.23 23.13 37.52
Total Current Assets 790.47 829.95 741.61 691.13 4,952.99
Total Current Liabilities 350.46 394.45 506.25 540.96 3,481.21
WC 440.01 435.50 235.36 150.17 1,471.78

WC Turn 7.24 6.02 8.71 14.00 1.65
5 Year Average 7.53
CR= CA/CL 2.2555 2.10 1.46 1.28 1.42
5 Year Average 0.38
Monetary CA 423.01 533.59 486.75 462.05 4,710.03
Quick Ratio 1.21 1.35 0.96 0.85 1.35
5 Year Average 1.15
Projected
Cash
Current Tax 103.05 36.88 9.41 8.60 7.67
Expenses 2,887.75 2,383.74 1,884.34 2,004.99 2,294.38

Cash Burn 53.47 81.70 94.28 84.11 749.29
D/E (LT/OE) 0.12 0.13 0.26 0.41 9.83
5 Year Average 2.15
Short Term Borrowings 42.74 41.50 50.44 65.79 662.56
Total Debt 173.28 162.54 236.73 316.78 2,932.29

D/E (Total Debt/OE) 0.16 0.18 0.33 0.51 12.70
5 Year Average
Interest 2.78
Cover 12.07 5.88 2.86 1.58 1.68
5 Year Average 4.82
Total Assets 1,608.64 1,511.19 1,475.11 1,470.23 6,012.71
WC/TA 0.27353 0.29 0.16 0.10 0.24

Reserves and Surplus 1,049.17 896.98 683.82 584.84 200.39
RE/TA 0.65 0.59 0.46 0.40 0.03

EBIT/TA 0.23 0.17 0.11 0.08 0.03
Sales/TA 1.98 1.74 1.39 1.43 0.40
MV of Equity 6,319.74 2,315.19 525.94 -37,143.40 478.54
BV of Debt 173.28 162.54 236.73 316.78 2,932.29
P/E 18.65 8.18 3.58 -88.30 10.30

Z-Score 25.85 12.00 3.93 -67.98 0.95
Tangible Assets 391.70 375.92 379.37 398.11 405.67
Delta Net Capex 114.48 -8.28 -14.68 12.54 422.75

Net change in WC 4.51 200.14 85.19 -1,321.61 1,471.78
Gross Capex 181.96 61.47 53.19 76.16 483.61
CFO 293.37 21.93 52.29 1,218.60 -1,106.36
CFO to Capex 1.61 0.36 0.98 16.00 -2.29
5 Year Average 3.33
CFO/Total Debt 1.69 0.13 0.22 3.85 -0.38
5 Year Average 1.10
CFO/Net Income 1.27 0.14 0.75 -7.31 -3.63
CFO/CL 0.84 0.06 0.10 2.25 -0.32
5 Year Average 0.59
%Change in EBIT 46.40 53.19 38.94 -38.48
% Change in Op Rev 21.48 28.06 -2.58 -13.26
DOL(%Change in EBIT/% C 2.16 1.90 -15.09 2.90
% Change in PBT 31.30 79.92 27.61 -9.00
4 Year Average
DFL(% Change in PBT/%Cha 0.67 1.50 0.71 0.23
4 Year Average 0.78
DCL 1.46 2.85 -10.70 0.68
Profitability Usha Martin
ROE 21.34 Standalone Balance Sheet ------------------- in Rs. Cr. -------------------
GPM in % 29.51 Mar 23 Mar-22 Mar-21 Mar-20
EBITDA/GP 0.46
EBIT/EBITDA 0.84 12 mths 12 mths 12 mths 12 mths
EBT/EBIT 0.92
PAT/EBT 0.69 EQUITIES AND LIABILITIES
Asset Turn 1.98 SHAREHOLDER'S FUNDS
EM 1.49 Equity Share Capital 30.54 30.54 30.54 30.54
1-T 0.76 Total Share Capital 30.54 30.54 30.54 30.54
ROC 23.06 Reserves and Surplus 1,049.17 896.98 683.82 584.84
Total Reserves and Surplus 1,049.17 896.98 683.82 584.84
WC Efficiency Total Shareholders Funds 1,079.71 927.52 714.36 615.38
DaysReceivable 23.52 NON-CURRENT LIABILITIES
Days Inventory 59.70 Long Term Borrowings 130.54 121.04 186.29 250.99
Days Payable 20.45 Deferred Tax Liabilities [Net] 2.31 0 0 0
CCC 62.77 Other Long Term Liabilities 17.6 32.07 30.36 31.32
WC Turn 7.24 Long Term Provisions 28.02 36.11 37.85 31.58
Total Non-Current Liabilities 178.47 189.22 254.5 313.89
Liquidity CURRENT LIABILITIES
CR= CA/CL 2.2555 Short Term Borrowings 42.74 41.5 50.44 65.79
Quick Ratio 1.21 Trade Payables 125.9 175.2 239.96 266.02
Cash Burn 53.47 Other Current Liabilities 174.69 171.02 208.77 201.87
D/E (Total Debt/OE)

Interest 0.16 Short Term Provisions 7.13 6.73 7.08 7.28
Cover 12.07 Total Current Liabilities 350.46 394.45 506.25 540.96
Total Capital And Liabilities 1,608.64 1,511.19 1,475.11 1,470.23
Solvency ASSETS
WC/TA 0.27353 NON-CURRENT ASSETS
RE/TA 0.65 Tangible Assets 391.7 375.92 379.37 398.11
EBIT/TA 0.23 Intangible Assets 1.4 1.27 3.83 7.06
Sales/TA 1.98 Capital Work-In-Progress 133.71 35.14 37.41 30.12
MV of Equity/BV of Debt 36.47 Intangible Assets Under Development 0 0.55 0.4 0
Z-Score 25.85 Fixed Assets 526.81 412.88 421.01 435.29
Non-Current Investments 150.81 150.65 150.65 150.65
Cash Flow Management Deferred Tax Assets [Net] 0 1.17 18.36 42.93
CFO to Capex 1.61 Long Term Loans And Advances 8.31 12.27 12.44 12.43
CFO/Total Debt 1.69 Other Non-Current Assets 132.24 104.27 131.04 137.8
CFO/Net Income 1.27 Total Non-Current Assets 818.17 681.24 733.5 779.1
CFO/CL 0.84 CURRENT ASSETS
Inventories 367.46 296.36 254.86 229.08
Degree of Leverage Trade Receivables 205.43 247.1 217.18 181.97
Degree of Operating Leverage 2.16 Cash And Cash Equivalents 53.42 99.71 9.26 7.23
Degree of FinancialLeverage 0.67 Short Term Loans And Advances 12.57 12.52 7.18 6.05
Degree of Combined Leverage 1.46 OtherCurrentAssets 151.59 174.26 253.13 266.8
Total Current Assets 790.47 829.95 741.61 691.13
Total Assets 1,608.64 1,511.19 1,475.11 1,470.23
OTHER ADDITIONAL INFORMATION
CONTINGENT LIABILITIES, COMMITMENTS
Contingent Liabilities 425.36 85.16 1,616.90 1,657.49
CIF VALUE OF IMPORTS
EXPENDITURE IN FOREIGN EXCHANGE
Expenditure In Foreign Currency 76.86 46.8 4.7 6.99

REMITTANCES IN FOREIGN CURRENCIES FOR
DIVIDENDS
Dividend Remittance In Foreign Currency - - - -
EARNINGS IN FOREIGN EXCHANGE
FOB Value Of Goods - - - -
Other Earnings 684.86 540.46 353.67 396.71
BONUS DETAILS
Bonus Equity Share Capital - - - -
NON-CURRENT INVESTMENTS
Non-Current Investments Quoted Market
- - - -
Value
Non-Current Investments Unquoted Book
150.81 150.65 150.65 150.65
Value
CURRENT INVESTMENTS
Current Investments Quoted Market Value - - - -
Current Investments Unquoted Book Value - - - -

Usha Martin
---------------- Consolidated Profit & Loss account ------------------- in Rs. Cr. -------------------
Mar-19 Mar 23 Mar-22 Mar-21 Mar-20 Mar-19
12 mths 12 mths 12 mths 12 mths 12 mths 12 mths
INCOME
Revenue From Operations [Gross] 3,187.36 2,623.78 2,048.85 2,103.11 2,424.67
30.54 Revenue From Operations [Net] 3,187.36 2,623.78 2,048.85 2,103.11 2,424.67
30.54 Other Operating Revenues 80.4 64.29 48.43 50.71 63.58
200.39 Total Operating Revenues 3,267.76 2,688.07 2,097.28 2,153.82 2,488.25
200.39 Other Income 28.06 35.24 33.31 53.35 21.03
230.93 Total Revenue 3,295.82 2,723.31 2,130.59 2,207.17 2,509.28
EXPENSES
2,269.73 Cost Of Materials Consumed 1,799.39 1,528.45 1,152.94 1,149.56 1,586.27
0 Purchase Of Stock-In Trade 19.92 16.28 8.19 8.01 6.98

Changes In Inventories Of FG,WIP And Stock-
16.75 -12.98 -57.55 9.63 67.34 -80.95
In Trade
14.09 Employee Benefit Expenses 372.83 330.23 298.01 306.06 278.91
2,300.57 Finance Costs 30.27 42.46 56.9 74.18 113.53
Depreciation And Amortisation Expenses 67.48 69.75 67.87 63.62 60.86
662.56 Other Expenses 575.27 486.99 349.26 391.24 381.97
218.35 Total Expenses 2,852.18 2,416.61 1,942.80 2,060.01 2,347.57

Profit/Loss Before Exceptional,
2,594.04 443.64 306.7 187.79 147.16 161.71
ExtraOrdinary Items And Tax
6.26 Exceptional Items 0 31.18 0 0 0
3,481.21 Profit/Loss Before Tax 443.64 337.88 187.79 147.16 161.71
6,012.71 Tax Expenses-Continued Operations
Current Tax 103.05 36.88 9.41 8.6 7.67
Deferred Tax 1.73 18.23 27.04 199.59 -237.4
405.67 Tax For Earlier Years 0 -0.26 -0.01 1.54 2.27
8.31 Total Tax Expenses 104.78 54.85 36.44 209.73 -227.46

Profit/Loss After Tax And Before
8.77 338.86 283.03 151.35 -62.57 389.17
ExtraOrdinary Items
0 Profit/Loss From Continuing Operations 338.86 283.03 151.35 -62.57 389.17
422.75 Profit Loss From Discontinuing Operations 0 0 -4.44 483.22 -342.71
150.65 Net Profit Loss From Discontinuing Operations 0 0 -4.44 483.22 -342.71
238.46 Profit/Loss For The Period 338.86 283.03 146.91 420.65 46.46
11.79 Minority Interest -0.46 -0.16 -1.91 -2.24 -1.32
236.07 Share Of Profit/Loss Of Associates 11.74 8.4 4.59 0.43 2.84

Consolidated Profit/Loss After MI And
1,059.72 350.14 291.27 149.59 418.84 47.98
Associates
242.96 EARNINGS PER SHARE
217.05 Basic EPS (Rs.) 12 10 5 14 2
33.86 Diluted EPS (Rs.) 12 10 5 14 2
0.53 DIVIDEND AND DIVIDEND PERCENTAGE
4,458.59
4,952.99
6,012.71
2,053.35
13.27
428.19
150.65
-
NMDC Previous Years »
Consolidated Balance Sheet ------------------- in Rs. Cr. -------------------
Mar 23 Mar-22 Mar-21 Mar-20 Mar-19
12 mths 12 mths 12 mths 12 mths 12 mths
EQUITIES AND LIABILITIES
SHAREHOLDER'S FUNDS
Equity Share Capital 293.07 293.07 293.07 306.19 306.19
Total Share Capital 293.07 293.07 293.07 306.19 306.19
Total Reserves and Surplus 22,327.76 34,693.83 29,590.98 27,366.88 25,737.81
NON-CURRENT LIABILITIES
Long Term Borrowings 0 1,668.22 546.43 0 0
Other Long Term Liabilities 155.3 156.13 4.7 5.83 0
Long Term Provisions 1,255.99 1,092.46 945.41 827.96 768.52
Total Non-Current Liabilities 1,411.29 2,916.81 1,496.54 833.79 768.52
CURRENT LIABILITIES
Short Term Borrowings 415.98 1,815.13 1,448.04 565.57 364.15
Trade Payables 425.91 967.53 360.78 225.9 202.79
Other Current Liabilities 3,235.61 4,136.62 3,628.29 1,765.27 2,456.43
Short Term Provisions 123.86 15.13 98.56 222.78 41.45
Total Capital And Liabilities 28,247.71 44,851.57 36,929.80 31,294.43 29,891.23
ASSETS
NON-CURRENT ASSETS
Tangible Assets 2,388.75 4,165.13 3,320.95 3,260.95 3,198.51
Intangible Assets Under Development 6.49 5 51.42 29.64 0
Fixed Assets 5,102.72 23,030.38 20,997.45 19,245.47 17,237.42
Non-Current Investments 934.68 894.95 874.9 910.1 858.87
Deferred Tax Assets [Net] 297.5 530.95 408.28 397.07 582.73

Long Term Loans And Advances 62.62 40.77 259.17 224.38 154.71
Other Non-Current Assets 5,949.09 4,449.80 3,695.91 3,075.48 2,986.32
Total Non-Current Assets 12,440.50 29,040.74 26,329.60 23,946.39 21,913.94
CURRENT ASSETS
Inventories 2,660.58 2,164.90 921.72 723.51 666.17
Cash And Cash Equivalents 7,097.75 7,978.29 5,861.82 2,437.46 4,619.39
OtherCurrentAssets 3,392.86 2,713.34 1,676.77 1,963.36 1,267.22
Total Assets 28,247.71 44,851.57 36,929.80 31,294.43 29,891.23
Contingent Liabilities 8,756.70 11,844.86 9,854.61 8,601.95 9,879.21
BONUS DETAILS
Bonus Equity Share Capital 255.79 255.79 255.79 255.79 255.79
Non-Current Investments Unquoted Book Value 0 0 880.15 910.1 856.86
CURRENT INVESTMENTS
Source : Dion Global Solutions Limited

NMDC Previous Years »
Consolidated Profit & Loss account ------------------- in Rs. Cr. -------------------
INCOME
Other Operating Revenues 5.78 0 0.01 0.43 0.52
Total Operating Revenues 17,666.88 25,881.73 15,370.06 11,699.22 12,152.67
Other Income 768.22 718.52 351.6 514.36 588.96
Total Revenue 18,435.10 26,600.25 15,721.66 12,213.58 12,741.63
EXPENSES
Cost Of Materials Consumed 771.03 626.02 410.24 394.36 426.42
Operating And Direct Expenses 7,935.05 10,178.99 2,969.38 2,096.29 2,003.78
Changes In Inventories Of FG,WIP And Stock-In Trade -496.6 -1,200.50 -161.81 -53.83 -79.22
Finance Costs 75.23 39.06 16.81 9.88 40.32
Other Expenses 1,874.30 2,357.63 2,277.74 2,211.12 1,837.87
Total Expenses 12,025.76 13,626.01 6,826.14 6,002.11 5,547.61

Profit/Loss Before Exceptional, ExtraOrdinary Items And
6,409.34 12,974.24 8,895.52 6,211.47 7,194.02
Tax
Exceptional Items 1,237.27 0 0 -96.44 0
Profit/Loss Before Tax 7,646.61 12,974.24 8,895.52 6,115.03 7,194.02
Tax Expenses-Continued Operations
Current Tax 1,664.65 3,444.39 2,316.46 1,555.59 2,752.70
Deferred Tax 271.43 -122.67 -11.21 185.66 -197.02
Tax For Earlier Years 172.13 260.53 343.2 771.47 0.85
Total Tax Expenses 2,108.21 3,582.25 2,648.45 2,512.72 2,556.53
Profit/Loss After Tax And Before ExtraOrdinary Items 5,538.40 9,391.99 6,247.07 3,602.31 4,637.49
Profit/Loss From Continuing Operations 5,538.40 9,391.99 6,247.07 3,602.31 4,637.49
Profit Loss From Discontinuing Operations -0.91 -0.91 0.53 -1.05 -0.64
Total Tax Expenses Discontinuing Operations -0.23 -0.23 0.13 -0.26 -0.22
Net Profit Loss From Discontinuing Operations -0.68 -0.68 0.4 -0.79 -0.42
Profit/Loss For The Period 5,537.72 9,391.31 6,247.47 3,601.52 4,637.07
Minority Interest -1.1 0.55 0.37 0.33 0.89
Share Of Profit/Loss Of Associates 64.84 -12.26 29.17 -28.56 -19.12
Consolidated Profit/Loss After MI And Associates 5,601.46 9,379.60 6,277.01 3,573.29 4,618.84
EARNINGS PER SHARE
Basic EPS (Rs.) 19 32 21 12 15
Diluted EPS (Rs.) 19 32 21 12 15
Indigenous Raw Materials 70.59 106.95 42.01 49.08 0
Imported Stores And Spares 1.69 2.07 6.01 8 0
Indigenous Stores And Spares 554.65 394.46 251.4 256.97 0
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend 1,098.98 4,319.72 2,274.15 1,619.72 1,690.14
Tax On Dividend 0 0 0 332.94 347.41

Previous
Kalyani Steels
Years »
------------------- in
Standalone Balance Sheet Rs. Cr.
-------------------
SHAREHOLDER'S FUNDS
Reserves and Surplus 1,467.61 1,345.60 1,132.35 942.07 868.7
Total Reserves and Surplus 1,467.61 1,345.60 1,132.35 942.07 868.7
Total Shareholders Funds 1,489.48 1,367.46 1,154.22 963.93 890.57
Long Term Borrowings 184.99 189.52 18.38 0 0
Deferred Tax Liabilities [Net] 16.26 21.44 27.04 30.54 47.22
Other Long Term Liabilities 3.84 6.34 7.39 10.87 0
Long Term Provisions 5.06 4.88 4.21 3.91 3.91
Total Non-Current Liabilities 210.15 222.19 57.02 45.32 51.14
CURRENT LIABILITIES
Short Term Borrowings 321.36 150 150 0 0
Trade Payables 261.77 455.52 235.49 314.99 330.45
Other Current Liabilities 65.93 60.26 52.01 38.23 103.01
Total Current Liabilities 650.91 667.87 439.13 355.16 435.64
ASSETS
NON-CURRENT ASSETS
Tangible Assets 599.12 358 381.64 417.28 420.31
Fixed Assets 617.31 512.75 393.11 423.71 427.56
Long Term Loans And Advances 0 0 79.38 6.79 6.89
Other Non-Current Assets 16.85 39.76 5.38 3.48 4.83

Total Non-Current Assets 780.28 699.97 622.09 578.67 601.73
CURRENT ASSETS
Current Investments 0 0 0 32.77 203.57
Inventories 323.9 217.61 118.95 125.97 154.43
Cash And Cash Equivalents 749.48 974.22 625.96 360.54 38.42
Short Term Loans And Advances 0 0 0 0.02 0.05
OtherCurrentAssets 92.17 47.98 34.27 30.93 23.28
Total Current Assets 1,570.26 1,557.54 1,028.27 785.74 775.62
Total Assets 2,350.54 2,257.52 1,650.36 1,364.41 1,377.34
Contingent Liabilities 150.17 222.93 160.3 102.74 125.1
Expenditure In Foreign Currency 585.08 351.37 176.82 255.09 402.38
REMITTANCES IN FOREIGN CURRENCIES FOR DIVIDENDS
Dividend Remittance In Foreign Currency - - - - -
FOB Value Of Goods - - - - -
Other Earnings 19.68 41.2 35.51 33.63 60.27
BONUS DETAILS
Non-Current Investments Quoted Market Value - - - - -
Non-Current Investments Unquoted Book Value 146.13 147.46 144.21 144.69 162.44
CURRENT INVESTMENTS
Current Investments Quoted Market Value - - - - -
Current Investments Unquoted Book Value - - - -

Usha Martin
Standalone Balance Sheet ------------------- in Rs. Cr. -------------------
SHAREHOLDER'S FUNDS
Reserves and Surplus 1,049.17 896.98 683.82 584.84 200.39
Total Reserves and Surplus 1,049.17 896.98 683.82 584.84 200.39
Total Shareholders Funds 1,079.71 927.52 714.36 615.38 230.93
Long Term Borrowings 130.54 121.04 186.29 250.99 2,269.73
Deferred Tax Liabilities [Net] 2.31 0 0 0 0
Other Long Term Liabilities 17.6 32.07 30.36 31.32 16.75
Total Non-Current Liabilities 178.47 189.22 254.5 313.89 2,300.57
CURRENT LIABILITIES
Short Term Borrowings 42.74 41.5 50.44 65.79 662.56
Trade Payables 125.9 175.2 239.96 266.02 218.35
Other Current Liabilities 174.69 171.02 208.77 201.87 2,594.04
Total Current Liabilities 350.46 394.45 506.25 540.96 3,481.21
ASSETS
NON-CURRENT ASSETS
Tangible Assets 391.7 375.92 379.37 398.11 405.67
Intangible Assets Under Development 0 0.55 0.4 0 0
Fixed Assets 526.81 412.88 421.01 435.29 422.75
Deferred Tax Assets [Net] 0 1.17 18.36 42.93 238.46

Other Non-Current Assets 132.24 104.27 131.04 137.8 236.07
Total Non-Current Assets 818.17 681.24 733.5 779.1 1,059.72
CURRENT ASSETS
Inventories 367.46 296.36 254.86 229.08 242.96
Cash And Cash Equivalents 53.42 99.71 9.26 7.23 33.86
Short Term Loans And Advances 12.57 12.52 7.18 6.05 0.53
OtherCurrentAssets 151.59 174.26 253.13 266.8 4,458.59
Total Current Assets 790.47 829.95 741.61 691.13 4,952.99
Total Assets 1,608.64 1,511.19 1,475.11 1,470.23 6,012.71
Contingent Liabilities 425.36 85.16 1,616.90 1,657.49 2,053.35
Expenditure In Foreign Currency 76.86 46.8 4.7 6.99 13.27
REMITTANCES IN FOREIGN CURRENCIES FOR DIVIDENDS
Dividend Remittance In Foreign Currency - - - - -
FOB Value Of Goods - - - - -
Other Earnings 684.86 540.46 353.67 396.71 428.19
BONUS DETAILS
Bonus Equity Share Capital - - - - -
Non-Current Investments Quoted Market Value - - - - -
CURRENT INVESTMENTS
Current Investments Quoted Market Value - - - - -
Current Investments Unquoted Book Value - - - - -

Usha Martin
INCOME
Other Operating Revenues 80.4 64.29 48.43 50.71 63.58
Other Income 28.06 35.24 33.31 53.35 21.03
Total Revenue 3,295.82 2,723.31 2,130.59 2,207.17 2,509.28
EXPENSES

Changes In Inventories Of FG,WIP And
-12.98 -57.55 9.63 67.34 -80.95
Stock-In Trade
Finance Costs 30.27 42.46 56.9 74.18 113.53
Other Expenses 575.27 486.99 349.26 391.24 381.97
Total Expenses 2,852.18 2,416.61 1,942.80 2,060.01 2,347.57

Profit/Loss Before Exceptional,
443.64 306.7 187.79 147.16 161.71
ExtraOrdinary Items And Tax
Exceptional Items 0 31.18 0 0 0
Current Tax 103.05 36.88 9.41 8.6 7.67
Deferred Tax 1.73 18.23 27.04 199.59 -237.4
Tax For Earlier Years 0 -0.26 -0.01 1.54 2.27
Total Tax Expenses 104.78 54.85 36.44 209.73 -227.46

338.86 283.03 151.35 -62.57 389.17
ExtraOrdinary Items
Profit/Loss From Continuing Operations 338.86 283.03 151.35 -62.57 389.17
Profit Loss From Discontinuing Operations 0 0 -4.44 483.22 -342.71

Net Profit Loss From Discontinuing
0 0 -4.44 483.22 -342.71
Operations
Minority Interest -0.46 -0.16 -1.91 -2.24 -1.32
Share Of Profit/Loss Of Associates 11.74 8.4 4.59 0.43 2.84

Consolidated Profit/Loss After MI And
350.14 291.27 149.59 418.84 47.98
Associates
EARNINGS PER SHARE
Basic EPS (Rs.) 12 10 5 14 2
Diluted EPS (Rs.) 12 10 5 14 2

Previous
Kalyani Steels Years »
------------------- in
Standalone Profit & Loss account Rs. Cr.
-------------------
INCOME
Other Income 56.4 46.36 42.54 23.26 13.21
Total Revenue 1,955.76 1,752.39 1,230.53 1,222.19 1,419.78
EXPENSES
Cost Of Materials Consumed 1,173.24 968.92 545.73 585.43 800.28
Operating And Direct Expenses 286.4 267.27 203.13 232.21 0

Changes In Inventories Of FG,WIP And Stock-In
-2.52 -29.51 24.67 -12.05 -20.39
Trade
Finance Costs 28.1 13.21 6.77 8.05 6.63
Other Expenses 117.36 73.37 52.24 89.22 352.12
Total Expenses 1,730.70 1,426.55 975.49 1,054.29 1,239.20
Mar-23 Mar-22 Mar-21 Mar-20 Mar-19
Profit/Loss Before Exceptional, ExtraOrdinary

225.06 325.84 255.04 167.9 180.58
Items And Tax
Exceptional Items 0 0 0 0 11.92
Current Tax 63.25 88.6 68.45 47.75 63.55
Deferred Tax -5.24 -5.68 -3.72 -16.5 -3.1
Tax For Earlier Years 0.03 0 0 -0.46 0
Total Tax Expenses 58.03 82.92 64.74 30.79 60.45

167.03 242.92 190.3 137.12 132.05
ExtraOrdinary Items
Profit/Loss From Continuing Operations 167.03 242.92 190.3 137.12 132.05
Mar-23 Mar-22 Mar-21 Mar-20 Mar-19
EARNINGS PER SHARE
Basic EPS (Rs.) 38.26 55.65 43.59 31.41 30.25
Diluted EPS (Rs.) 38.26 55.65 43.59 31.41 30.25
VALUE OF IMPORTED AND INDIGENIOUS RAW MATERIALS
STORES, SPARES AND LOOSE TOOLS
Equity Share Dividend 43.65 32.74 0 43.65 21.83
Tax On Dividend 0 0 0 8.97 4.49
Equity Dividend Rate (%) 200 200 150 100 100

Jindal Steel & Power
INCOME
Less: Excise/Sevice Tax/Other Levies 7,793.46 80.08 0 0 0
Other Income 57.05 50.36 538.92 26.24 15.68
Total Revenue 52,768.23 51,135.92 39,527.55 36,943.72 39,387.82
EXPENSES
Purchase Of Stock-In Trade 2,453.95 2,319.10 1,239.07 573.54 1,186.46
Operating And Direct Expenses 1,577.25 1,205.63 0 0 0
Changes In Inventories Of FG,WIP And Stock-In Trade -144.61 -776.52 211.38 -220.36 -225.97
Employee Benefit Expenses 1,134.25 870.66 899.86 1,112.08 1,071.85
Finance Costs 1,445.89 1,887.71 3,093.33 4,149.34 4,264.19
Depreciation And Amortisation Expenses 2,690.95 2,096.78 3,453.34 3,867.23 5,480.35
Other Expenses 15,867.48 13,073.47 12,961.12 13,460.37 13,807.22
Less: Amounts Transfer To Capital Accounts 500.34 80.08 38.36 95.37 147.36
Total Expenses 46,913.13 39,556.61 31,091.05 37,080.17 40,711.11

Profit/Loss Before Exceptional, ExtraOrdinary Items
5,855.10 11,579.31 8,436.50 -136.45 -1,323.29
And Tax
Exceptional Items -1,369.46 -406.24 -1,140.86 -109.39 -1,478.40
Profit/Loss Before Tax 4,485.64 11,173.07 7,295.64 -245.84 -2,801.69
Current Tax 1,496.63 2,466.92 9.21 12.14 51.58
Less: MAT Credit Entitlement 0 0 0 -795.01 0
Deferred Tax -204.23 457.61 1,837.92 -611.77 -441.75
Other Direct Taxes 0 0 -78.42 0 0
Tax For Earlier Years -0.12 0 0 -41.52 0
Total Tax Expenses 1,292.28 2,924.53 1,768.71 153.86 -390.17

Profit/Loss After Tax And Before ExtraOrdinary
3,193.36 8,248.54 5,526.93 -399.7 -2,411.52
Items
Profit/Loss From Continuing Operations 3,193.36 8,248.54 5,526.93 -399.7 -2,411.52
Profit Loss From Discontinuing Operations 981.68 -1,482.58 -1,216.60 0 0
Total Tax Expenses Discontinuing Operations 200.8 0 43.29 0 0
Net Profit Loss From Discontinuing Operations 780.88 -1,482.58 -1,259.89 0 0
Profit/Loss For The Period 3,974.24 6,765.96 4,267.04 -399.7 -2,411.52
Minority Interest -800.15 -1,012.68 -633.48 290.53 766.18
Share Of Profit/Loss Of Associates -0.15 -0.23 0 0 0
Consolidated Profit/Loss After MI And Associates 3,173.94 5,753.05 3,633.56 -109.17 -1,645.34
EARNINGS PER SHARE
Basic EPS (Rs.) 32 56 36 -1 -17
Diluted EPS (Rs.) 32 56 36 -1 -17
Equity Share Dividend 201.01 102.01 0 0 0

Jindal Steel & Power
SHAREHOLDER'S FUNDS
Equity Share Capital 100.5 101.07 102 102 96.79
Total Share Capital 100.5 101.07 102 102 96.79
Money Received Against Share Warrants 0 0 0 0 4.8
Hybrid/Debt/Other Securities 0 0 0 0 46.71
Minority Interest 312.53 1,470.54 -877.7 -776.44 -301.07
Deferred Tax Liabilities [Net] 5,936.61 7,276.22 6,239.37 5,622.59 5,364.30
Other Long Term Liabilities 1,415.50 713.66 830.9 1,322.42 436.03
Total Non-Current Liabilities 14,909.42 16,846.07 27,623.99 35,138.11 36,055.24
CURRENT LIABILITIES
Trade Payables 4,700.44 5,251.94 4,038.29 5,567.13 5,220.76
ASSETS
NON-CURRENT ASSETS
Tangible Assets 40,803.51 42,243.99 51,874.69 67,218.62 67,003.67
Intangible Assets 2,683.23 2,795.74 1,974.44 1,552.73 2,002.18
Capital Work-In-Progress 7,105.90 1,736.20 890.28 1,974.50 2,905.51
Intangible Assets Under Development 763.69 802.23 821.25 1,151.02 1,121.69

Other Assets 0 0 0.45 0.45 0.45
Fixed Assets 51,356.33 47,578.16 55,561.11 71,897.32 73,033.50
CURRENT ASSETS
Current Investments 764.86 332.12 1,011.28 37.55 4.96
Inventories 5,886.78 7,281.36 5,942.57 6,368.71 6,509.53
Trade Receivables 974.47 1,264.07 2,794.40 3,549.26 3,029.19
Cash And Cash Equivalents 4,716.83 3,668.51 6,152.22 906.23 421.62
Total Assets 69,427.23 76,643.54 77,840.42 89,741.95 89,585.32
BONUS DETAILS
Non-Current Investments Quoted Market Value 1.8 2.75 1.77 1.29 3.38
CURRENT INVESTMENTS
Current Investments Quoted Market Value 761.13 327.42 1,004.20 3.89 4.96
Current Investments Unquoted Book Value 3.73 4.7 7.08 33.66 0

ata Steel Previous Years »
SHAREHOLDER'S FUNDS
Equity Share Capital 1,221.24 1,221.21 1,197.61 1,144.95 1,144.94
Total Share Capital 1,221.24 1,221.21 1,197.61 1,144.95 1,144.94
Equity Share Application Money 0 0 3.78 0 0
Hybrid/Debt/Other Securities 0 0 775 2,275.00 2,275.00
Minority Interest 2,093.11 2,655.42 3,269.68 2,586.60 2,364.46
Deferred Tax Liabilities [Net] 14,115.64 12,325.78 9,241.42 9,261.38 12,459.89
Other Long Term Liabilities 15,213.59 15,843.31 17,480.28 4,994.22 4,409.89
Long Term Provisions 4,775.84 4,825.98 4,691.92 4,235.07 4,046.21
Total Non-Current Liabilities 85,551.40 77,759.14 97,111.63 112,595.64 101,258.72
CURRENT LIABILITIES
Trade Payables 37,832.54 36,764.87 25,967.49 21,380.85 21,716.96
Short Term Provisions 3,882.73 2,768.49 4,725.32 1,663.67 1,248.72
ASSETS
NON-CURRENT ASSETS
Tangible Assets 127,919.26 124,504.16 128,454.45 128,053.76 118,450.97
Intangible Assets 13,100.55 4,472.47 2,976.04 2,442.37 1,994.32
Intangible Assets Under Development 905.12 817.93 878.66 634.77 684.7

Fixed Assets 172,232.83 151,022.18 150,437.89 149,992.96 139,086.50
Non-Current Investments 4,780.25 4,615.43 3,463.04 2,853.31 3,213.31
Deferred Tax Assets [Net] 2,625.96 3,023.93 1,578.02 1,270.33 808.95
Long Term Loans And Advances 64.74 1,282.44 91.93 488.71 613.34
CURRENT ASSETS
Current Investments 3,630.06 8,524.42 7,218.89 3,431.87 2,524.86
Inventories 54,415.33 48,824.39 33,276.38 31,068.72 31,656.10
Cash And Cash Equivalents 13,357.26 15,898.93 5,782.18 8,054.72 3,341.37
Total Assets 288,021.74 285,445.60 245,487.21 250,419.45 233,582.39
BONUS DETAILS
Non-Current Investments Quoted Market Value 0 0 0 205.02 454.53
Non-Current Investments Unquoted Book Value 0 0 0 479.75 835.83
CURRENT INVESTMENTS
Current Investments Unquoted Book Value 0 0 0 3,431.87 2,524.86

Tata Steel Previous Years »
INCOME
Less: Excise/Sevice Tax/Other Levies 0 0 0 0 0.21
Other Operating Revenues 1,716.44 1,632.30 1,758.12 2,865.71 2,977.15
Other Income 1,037.48 784.89 895.6 1,821.99 1,420.58
Total Revenue 244,390.17 244,744.06 157,373.00 150,793.70 159,089.36
EXPENSES
Purchase Of Stock-In Trade 15,114.11 15,312.91 9,808.32 10,504.20 6,567.98
Changes In Inventories Of FG,WIP And Stock-In Trade -3,358.89 -7,597.87 1,516.77 -490.05 -96.71
Finance Costs 6,298.70 5,462.20 7,606.71 7,580.72 7,660.10
Depreciation And Amortisation Expenses 9,335.20 9,100.87 9,233.64 8,707.67 7,341.83
Other Expenses 80,518.87 76,616.28 51,212.44 50,702.93 50,410.51
Less: Amounts Transfer To Capital Accounts 5,123.96 2,889.90 1,765.69 2,318.00 1,664.28
Total Expenses 226,686.43 195,032.29 142,813.49 147,432.53 143,287.37

Profit/Loss Before Exceptional, ExtraOrdinary
17,703.74 49,711.77 14,559.51 3,361.17 15,801.99
Items And Tax
Exceptional Items 113.26 -134.06 -1,043.16 -4,929.58 -120.97
Profit/Loss Before Tax 17,817.00 49,577.71 13,516.35 -1,568.41 15,681.02
Current Tax 5,361.33 7,049.88 4,288.27 2,113.63 6,728.14
Deferred Tax 4,798.44 1,427.67 1,365.63 -4,666.53 -9.71
Total Tax Expenses 10,159.77 8,477.55 5,653.90 -2,552.90 6,718.43

Profit/Loss After Tax And Before ExtraOrdinary
7,657.23 41,100.16 7,862.45 984.49 8,962.59
Items
Profit/Loss From Continuing Operations 7,657.23 41,100.16 7,862.45 984.49 8,962.59
Profit Loss From Discontinuing Operations 0 0 0 0 -88.96
Net Profit Loss From Discontinuing Operations 0 0 0 0 -88.96

Profit/Loss For The Period 7,657.23 41,100.16 7,862.45 984.49 8,873.63
Minority Interest 685.05 -1,595.39 -699.57 384.08 1,120.00
Share Of Profit/Loss Of Associates 418.12 649.16 327.34 187.97 224.7
Consolidated Profit/Loss After MI And Associates 8,760.40 40,153.93 7,490.22 1,556.54 10,218.33
EARNINGS PER SHARE
Basic EPS (Rs.) 7 332 64 12 88
Diluted EPS (Rs.) 7 332 64 12 88
Equity Share Dividend 6,227.15 3,004.16 1,144.75 1,488.13 1,144.76
Tax On Dividend 0 0 0 297.4 224.61

Final Score FY23 Data: WC Efficiency Metric Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin LTD

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Final Score FY23 Data: WC Efficiency Metric Tata Steel Kalyani Steels Ltd. NMDC Jindal Steel and Power Usha Martin LTD

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Final Score FY23 Data

Ranking Based on ROE

Score matrix based on ROE Ranking

Total Score Profitability

Ranking Based on ROC

Ranking Based on ROC

Ranking based on WC Efficiency

Score matrix based on WC Efficiency

Ranking based on Liquidity

Score based on Liquidity

Ranking based on Solvency

Score matrix based on Solvency

Ranking based on CF Mgmt

Score based on Liquidity

Ranking based on DOL

Score matrix based on WC Efficiency

Cash Flow Management

Asset Turn 0.7973359313179 0.7423012864 0.706779127 0.86150790452 1.00466115846

Minority Interest 0.00 0.00 0.00 0.00 0.00

Net Op Revenue/IC(LTD+OE) 1.1 1.1 1.0 1.2 1.6

IC 1,674.47 1,556.98 1,172.60 963.93 890.57

Purchase Of Stock-In Trade 14.25 27.86 41.46 51.09 8.62

Employee Benefit Expenses 64.98 59.56 57.34 57.73 53.55

MV of Equity/BV of Debt 6.1520874888911 5.852631951 4.0460505998 #DIV/0! #DIV/0!

Intangible Assets 0.32 0.42 0.8 1.22 2.16

Capital Work-In-Progress 17.87 154.33 10.67 5.22 5.09

Delta Net Capex 104.56 119.64 -30.61 -3.84 427.56

Cash Flow Management

Net Op Revenue/IC(LTD+OE) 0.8 0.7 0.5 0.4 0.5

Purchase Of Stock-In Trade

Employee Benefit Expenses 1,530.6 1,337.1 1,085.2 1,049.4 1,039.4

DR(TR/Net Op Revenue)*365 54.9 41.7 50.8 69.4 42.8

DI(Inventories/CGS)*365 96.4 70.4 74.2 69.8 66.3

DP 15.4 31.4 29.1 21.8 20.2

Total Current Liabilities 4,201.4 6,934.4 5,535.7 2,779.5 3,064.8

WC 11,605.8 8,876.4 5,064.5 4,568.5 4,912.5

Total Debt 416.0 3,483.4 1,994.5 565.6 364.2

WC/TA 0.4 0.2 0.1 0.1 0.2

RE/TA 0.8 0.8 0.8 0.9 0.9

MV of Equity/BV of Debt 248.3 22.1 11.2 -562.3 131.2

Intangible Assets 715.9 535.7 518.6 454.7 220.0

Capital Work-In-Progress 1,991.6 18,324.5 17,106.5 15,500.2 13,818.9

Delta Net Capex -17,929.2 2,079.4 1,730.2 1,978.4 17,237.4

Cash Flow Management

Total Tax Expenses 1,292.28 2,924.53 1,768.71 153.86

Tax(Adjusted EBT) 3,744.65 2,922.24 1,765.58 252.90

Asset Turn 0.86 0.66 0.49 0.41

Minority Interest 312.53 1,470.54 -877.70 -776.44

Net Op Revenue/IC(LTD+OE) 1.3 1.1 0.7 0.6

IC 46,226.75 45,529.50 51,167.37 59,257.23

Purchase Of Stock-In Trade 2,453.95 2,319.10 1,239.07 573.54

Employee Benefit Expenses 1,134.25 870.66 899.86 1,112.08

DR(TR/Net Op Revenue)*365 5.9 9.1 26.6 35.3

DI(Inventories/CGS)*365 72.6 108.1 144.3 119.4

DP 58.0 77.9 98.0 104.4

Total Current Liabilities 15,498.69 22,702.27 19,279.46 23,243.14

WC -23.01 3,906.58 1,039.60 -7,252.26

Expenses 45,718.81 39,926.75 27,646.92 33,225.08

Total Debt 12,435.29 12,861.97 21,551.20 30,675.40

WC/TA -0.00033 0.05 0.01 -0.08

RE/TA 0.56 0.46 0.41 0.36

MV of Equity/BV of Debt 5.96 4.30 0.71 1.15