Hind. Unilever India 1139 611503.9 30.

00%
Nestle India India 279.9 182975 30.00%
Britannia Inds. India 3037.7 110690 30.00%
Godrej Consumer India 1164.5 96256.4 30.00%
Dabur India India 1068.1 94940.4 30.00%
 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18
Equity Capital 790.0 795.0 802.0 805.0 1,215.0 1,220.0
Reserves 22,368.0 26,442.0 30,934.0 41,875.0 45,198.0 51,290.0
Borrowings -
Long term Borrowings 91.0 76.0 61.0 27.0 18.0 12.0
Short term Borrowings 0.0 150.0 195.0 44.0 19.0 17.0
Lease Liabilities 0.0 0.0 0.0 0.0 0.0 0.0
Other Borrowings 12.0 16.0 13.0 13.0 8.0 7.0
Other Liabilities -
Non controlling int 180.0 203.0 225.0 261.0 295.0 334.0
Trade Payables 1,772.0 2,106.0 2,020.0 2,339.0 2,659.0 3,496.0
Advance from Customers 0.0 0.0 0.0 805.0 495.0 461.0
Other liability items 10,118.0 11,060.0 11,702.0 5,483.0 5,991.0 7,404.0
Total Liabilities 35,329.0 40,848.0 45,952.0 51,651.0 55,898.0 64,241.0
Fixed Assets -
Land 2,041 1,998 1,822 1,071 1,038 1,025
Building 8,533 6,028 5,942 3,705 3,832 11,166
Plant Machinery 12,586 15,888 15,771 6,376 6,796 637
Equipments 790 788 787 38 37 37
Furniture n fittings 399 473 512 222 264 321
Railway sidings 900 1,023 1,111 457 540 0
Vehicles 536 606 650 293 317 393
Intangible Assets 292 294 0 0 0 0
Other fixed assets 746 812 851 487 450 658
Gross Block 2,273 2,327 2,478 1,658 1,512 1,736
Accumulated Depreciation 7,874 11,283 15,861 2,216 5,921 8,448
Net Block #REF! #REF! #REF! #REF! #REF! #REF!

CWIP 2,062.0 3,117.0 2,700.0 2,560.0 3,730.0 5,508.0

Investments 5,981.0 7,284.0 6,943.0 11,748.0 17,581.0 22,053.0

Other Assets -
Inventories 7,522.0 8,255.0 8,587.0 9,062.0 8,116.0 7,495.0
Trade receivables 1,396.0 2,439.0 1,982.0 1,917.0 2,474.0 2,682.0
Cash Equivalents 3,828.0 3,490.0 7,896.0 6,063.0 2,967.0 2,900.0
Short term loans 65.0 107.0 150.0 14.0 7.0 74.0
Other asset items 2,335.0 3,234.0 2,391.0 5,180.0 5,129.0 7,004.0
Total Assets 35,329.0 40,848.0 45,952.0 51,651.0 55,898.0 64,241.0
 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
1,226.0 1,229.0 1,231.0 1,232.0 1,243.0 1,248.0
57,915.0 64,044.0 59,116.0 61,223.0 67,912.0 73,259.0

8.0 6.0 6.0 5.0 3.0 2.0

2.0 1.0 4.0 1.0 35.0 10.0
0.0 268.0 261.0 244.0 267.0 292.0
3.0 2.0 0.0 0.0 0.0

343.0 377.0 347.0 366.0 384.0 383.0

3,510.0 3,630.0 4,319.0 4,417.0 4,659.0 4,798.0
430.0 703.0 811.0 1,278.0 1,295.0
8,301.0 7,050.0 7,666.0 8,429.0 10,032.0 11,835.0
71,739.0 77,311.0 73,761.0 77,196.0 85,831.0 91,826.0

1,362 1,571 1,548 1,347 1,436 1,426

12,014 6,261 6,678 6,745 6,998 8,526
0 7,899 10,077 9,298 10,859 12,580
130 882 947 947 969 1,007
376 543 590 630 716 762
849 1,425 1,615 2,067 2,448 2,572
413 475 485 499 508 633
0 0 0 0 0 0
682 681 658 650 652 663
5,729 24,817 25,195 24,950 25,099 25,143
7,091 8,568 8,784 9,361 9,071 8,119
#REF! #REF! #REF! #REF! #REF!

4,136.0 3,256.0 4,011.0 3,226.0 3,003.0 2,851.0

25,043.0 28,663.0 24,871.0 24,841.0 29,415.0 31,114.0

7,860.0 8,879.0 10,397.0 10,864.0 11,771.0 14,153.0

4,035.0 2,562.0 2,502.0 2,462.0 2,956.0 4,026.0
4,152.0 7,277.0 4,659.0 4,654.0 4,880.0 7,218.0
67.0 6.0 7.0 11.0 13.0 10.0
7,071.0 4,952.0 4,015.0 6,906.0 7,941.0 4,625.0
71,739.0 77,311.0 73,761.0 77,196.0 85,831.0 91,826.0
 TATA COMMUNICATIONS LTD
Years Mar-15 Mar-16 Mar-17 Mar-18

# Income Statement
Sales ₹ 19,913.3 ₹ 18,148.6 ₹ 17,619.7 ₹ 16,771.7
Sales Growth #REF! -8.86% -2.91% -4.81%

COGS - - - -
COGS % Sales 0.00% 0.00% 0.00% 0.00%

Gross Profit ₹ 19,913.34 ₹ 18,148.58 ₹ 17,619.73 ₹ 16,771.69

Gross Margins 100.00% 100.00% 100.00% 100.00%

Selling & General Expenses ₹ 1,751.04 ₹ 1,624.45 ₹ 1,643.43 ₹ 1,517.92

S&G Exp % Sales 8.79% 8.95% 9.33% 9.05%

EBITDA ₹ 3,283.63 ₹ 2,514.88 ₹ 3,702.21 ₹ 2,277.07

EBITDA Margins 16.49% 13.86% 21.01% 13.58%

Interest ₹ 750.79 ₹ 409.06 ₹ 367.19 ₹ 344.45

Interest % Sales 3.77% 2.25% 2.08% 2.05%

Depreciation ₹ 2,161.09 ₹ 1,864.29 ₹ 1,865.77 ₹ 1,906.30

Depreciation%Sales 10.85% 10.27% 10.59% 11.37%

Earnings Before Tax ₹ 371.75 ₹ 241.53 ₹ 1,469.25 ₹ 26.32

EBT % Sales 1.87% 1.33% 8.34% 0.16%

Tax ₹ 370.5 ₹ 232.9 ₹ 236.4 ₹ 354.9

Effective Tax Rate 99.65% 96.41% 16.09% 1348.48%

Net Profit ₹ 1.3 ₹ 8.7 ₹ 1,232.9 (₹ 328.6)

Net Margins 0.01% 0.05% 7.00% -1.96%

No of Equity Shares 285.00Cr 285.00Cr 285.00Cr 285.00Cr

Earnings per Share ₹ 0.00 ₹ 0.03 ₹ 4.33 -₹ 1.15

EPS Growth % 0.00% 572.87% 14103.57% -126.65%

Dividend per Share ₹ 0.6 ₹ 0.4 ₹ 0.6 ₹ 0.5

Dividend payout ratio 12151.16% 1411.87% 13.87% -39.03%

Retained Earnings 0.00% 0.00% 86.13% 0.00%

# Balance Sheet
Equity Share Capital ₹ 285.0 ₹ 285.0 ₹ 285.0 ₹ 285.0
 Reserves ₹ 36.5 (₹ 648.4) ₹ 1,306.9 ₹ 214.3
Borrowings ₹ 13,075.7 ₹ 14,230.9 ₹ 9,213.6 ₹ 8,927.0
Other Liabilities ₹ 10,798.1 ₹ 11,230.0 ₹ 10,227.8 ₹ 10,130.9
Total Liabilities ₹ 24,195.3 ₹ 25,097.5 ₹ 21,033.3 ₹ 19,557.2

Fixed Assets Net Block ₹ 14,703.8 ₹ 14,443.8 ₹ 10,928.5 ₹ 10,796.5

Capital Work in Progress ₹ 638.3 ₹ 799.8 ₹ 750.9 ₹ 520.3
Investments ₹ 1,767.5 ₹ 1,837.2 ₹ 2,434.0 ₹ 1,250.2
Other Assets ₹ 7,085.6 ₹ 8,016.7 ₹ 6,919.9 ₹ 6,990.2
Total Non Current Assets ₹ 24,195.3 ₹ 25,097.5 ₹ 21,033.3 ₹ 19,557.2

Receivables ₹ 2,487.0 ₹ 3,018.9 ₹ 2,590.0 ₹ 2,953.5

Inventory ₹ 26.4 ₹ 25.4 ₹ 19.2 ₹ 27.0
Cash & Bank ₹ 1,621.2 ₹ 1,976.3 ₹ 1,079.3 ₹ 1,295.6
Total Current Assets ₹ 4,134.6 ₹ 5,020.6 ₹ 3,688.5 ₹ 4,276.0

Total Assets ₹ 28,329.8 ₹ 30,118.1 ₹ 24,721.8 ₹ 23,833.3

Check FALSE FALSE FALSE FALSE

# Cash Flow Statements

Operating Activities
Profit from operations ₹ 36,303.0 ₹ 43,397.0 ₹ 38,626.0 ₹ 28,840.0
Receivables ₹ 445.0 (₹ 3,179.0) (₹ 2,223.0) (₹ 4,152.0)
Inventory (₹ 2,853.0) (₹ 3,692.0) (₹ 5,743.0) (₹ 6,621.0)
Payables ₹ 4,694.0 ₹ 3,598.0 ₹ 3,947.0 ₹ 9,301.0
Loans Advances - - (₹ 520.0) -
Other WC items ₹ 1,870.0 (₹ 398.0) ₹ 5,852.0 ₹ 4,727.0
Working capital changes ₹ 4,157.0 (₹ 3,672.0) ₹ 1,313.0 ₹ 3,254.0
Direct taxes (₹ 4,308.0) (₹ 4,194.0) (₹ 2,040.0) (₹ 1,895.0)
Cash from Operating Activities ₹ 40,308.0 ₹ 31,860.0 ₹ 39,212.0 ₹ 33,454.0

Investing Activities
Fixed assets purchased (₹ 26,975.0) (₹ 31,962.0) (₹ 31,503.0) (₹ 16,072.0)
Fixed assets sold ₹ 50.0 ₹ 74.0 ₹ 59.0 ₹ 53.0
Investments purchased (₹ 429.0) (₹ 5,461.0) (₹ 4,728.0) (₹ 6.0)
Investments sold ₹ 4.0 ₹ 42.0 ₹ 89.0 ₹ 1,965.0
Interest received ₹ 653.0 ₹ 698.0 ₹ 731.0 ₹ 638.0
Dividends received ₹ 40.0 ₹ 80.0 ₹ 58.0 ₹ 620.0
Invest in subsidiaries - - - -
Investment in group cos - (₹ 160.0) - (₹ 107.0)
Redemp n Canc of Shares - - - -
Acquisition of companies (₹ 185.0) - (₹ 111.0) -
Inter corporate deposits - - - -
Other investing items (₹ 1,149.0) ₹ 456.0 (₹ 1,289.0) (₹ 26,663.0)
Cash from Investing Activities (₹ 27,991.0) (₹ 36,233.0) (₹ 36,694.0) (₹ 39,572.0)

Financing Activities
Proceeds from shares - - ₹ 7,433.0 ₹ 5.0
Redemption of debentures (₹ 658.0) (₹ 744.0) - -
Proceeds from borrowings ₹ 33,258.0 ₹ 36,363.0 ₹ 19,519.0 ₹ 33,390.0
Repayment of borrowings (₹ 29,141.0) (₹ 23,332.0) (₹ 24,924.0) (₹ 21,732.0)
Proceeds from deposits - - - -
Interest paid fin (₹ 6,171.0) (₹ 6,307.0) (₹ 5,716.0) (₹ 5,336.0)
Dividends paid (₹ 722.0) (₹ 720.0) (₹ 108.0) (₹ 121.0)
Financial liabilities - - - -
Other financing items (₹ 450.0) (₹ 57.0) - -
Cash from Financing Activities (₹ 3,884.0) ₹ 5,203.0 (₹ 3,796.0) ₹ 6,206.0

Net Cash Flow ₹ 8,433.0 ₹ 830.0 (₹ 1,278.0) ₹ 88.0

OMMUNICATIONS LTD
Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 LTM

₹ 16,525.0 ₹ 17,068.0 ₹ 17,100.1 ₹ 16,724.7 ₹ 17,838.3 ₹ 20,968.8

-1.47% 3.29% 0.19% -2.20% 6.66% 17.55%

- - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

₹ 16,524.95 ₹ 17,067.99 ₹ 17,100.10 ₹ 16,724.73 ₹ 17,838.26 ₹ 20,968.82

100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

₹ 1,567.95 ₹ 1,381.48 ₹ 973.68 ₹ 980.13 ₹ 1,083.02 ₹ 1,361.88

9.49% 8.09% 5.69% 5.86% 6.07% 6.49%

₹ 2,655.10 ₹ 2,969.17 ₹ 4,339.59 ₹ 4,568.68 ₹ 4,786.85 ₹ 4,295.66

16.07% 17.40% 25.38% 27.32% 26.83% 20.49%

₹ 396.55 ₹ 470.74 ₹ 420.20 ₹ 360.25 ₹ 432.46 ₹ 644.15

2.40% 2.76% 2.46% 2.15% 2.42% 3.07%

₹ 2,067.60 ₹ 2,357.72 ₹ 2,313.87 ₹ 2,204.54 ₹ 2,261.81 ₹ 2,469.67

12.51% 13.81% 13.53% 13.18% 12.68% 11.78%

₹ 190.95 ₹ 140.7 ₹ 1,605.5 ₹ 2,003.9 ₹ 2,092.6 ₹ 1,181.8

1.16% 0.82% 9.39% 11.98% 11.73% 5.64%

₹ 273.3 ₹ 226.7 ₹ 354.9 ₹ 522.1 ₹ 296.6 ₹ 213.5

143.14% 161.09% 22.10% 26.06% 14.17% 18.07%

(₹ 82.4) (₹ 86.0) ₹ 1,250.6 ₹ 1,481.8 ₹ 1,796.0 ₹ 968.3

-0.50% -0.50% 7.31% 8.86% 10.07% 4.62%

285.00Cr 285.00Cr 285.00Cr 285.00Cr 285.00Cr 285.00Cr

-₹ 0.29 -₹ 0.30 ₹ 4.39 ₹ 5.20 ₹ 6.30 ₹ 3.40

-74.93% 4.36% -1554.90% 18.48% 21.20% -46.08%

₹ 0.5 ₹ 0.4 ₹ 1.4 ₹ 2.1 ₹ 2.1 ₹ 1.7

-155.70% -132.62% 31.90% 39.81% 33.32% 49.15%

0.00% 0.00% 68.10% 60.19% 66.68% 50.85%

₹ 285.0 ₹ 285.0 ₹ 285.0 ₹ 285.0 ₹ 285.0 ₹ 285.0

 (₹ 466.8) (₹ 1,563.4) (₹ 169.5) ₹ 642.6 ₹ 1,233.3 ₹ 1,501.4
₹ 9,934.9 ₹ 12,413.5 ₹ 11,393.6 ₹ 9,121.5 ₹ 8,576.6 ₹ 11,263.2
₹ 10,198.0 ₹ 10,996.0 ₹ 9,796.5 ₹ 9,588.4 ₹ 10,424.4 ₹ 11,315.9
₹ 19,951.2 ₹ 22,131.1 ₹ 21,305.6 ₹ 19,637.5 ₹ 20,519.3 ₹ 24,365.4

₹ 11,289.4 ₹ 12,768.2 ₹ 11,519.6 ₹ 10,936.2 ₹ 10,499.6 ₹ 13,467.4

₹ 361.3 ₹ 348.9 ₹ 492.9 ₹ 852.5 ₹ 1,148.1 ₹ 1,327.0
₹ 1,491.3 ₹ 1,563.1 ₹ 2,233.4 ₹ 1,565.2 ₹ 1,950.6 ₹ 1,608.2
₹ 6,809.2 ₹ 7,451.0 ₹ 7,059.7 ₹ 6,283.6 ₹ 6,921.1 ₹ 7,962.8
₹ 19,951.2 ₹ 22,131.1 ₹ 21,305.6 ₹ 19,637.5 ₹ 20,519.3 ₹ 24,365.4

₹ 2,968.5 ₹ 3,228.9 ₹ 2,607.7 ₹ 2,582.1 ₹ 2,735.0 ₹ 3,758.4

₹ 76.6 ₹ 73.0 ₹ 34.4 ₹ 37.9 ₹ 160.0 ₹ 83.5
₹ 852.1 ₹ 909.1 ₹ 927.1 ₹ 743.4 ₹ 1,062.6 ₹ 842.5
₹ 3,897.1 ₹ 4,211.0 ₹ 3,569.2 ₹ 3,363.4 ₹ 3,957.6 ₹ 4,684.4

₹ 23,848.3 ₹ 26,342.1 ₹ 24,874.8 ₹ 23,000.9 ₹ 24,476.9 ₹ 29,049.8

FALSE FALSE FALSE FALSE FALSE FALSE

₹ 33,312.0 ₹ 28,771.0 ₹ 23,352.0 ₹ 31,198.0 ₹ 26,666.0

(₹ 10,688.0) (₹ 9,109.0) ₹ 9,950.0 (₹ 5,505.0) ₹ 337.0
(₹ 3,560.0) ₹ 2,069.0 ₹ 2,326.0 ₹ 3,814.0 ₹ 597.0
₹ 7,320.0 (₹ 4,692.0) (₹ 8,085.0) ₹ 5,748.0 (₹ 7,012.0)
- - - - -
₹ 494.0 ₹ 4,512.0 ₹ 875.0 (₹ 4,150.0) (₹ 4,396.0)
(₹ 6,434.0) (₹ 7,221.0) ₹ 5,065.0 (₹ 93.0) (₹ 10,474.0)
(₹ 3,021.0) (₹ 2,659.0) (₹ 1,785.0) (₹ 2,105.0) (₹ 1,910.0)
₹ 17,423.0 ₹ 11,671.0 ₹ 31,698.0 ₹ 28,907.0 ₹ 3,808.0

(₹ 35,079.0) (₹ 35,304.0) (₹ 29,702.0) (₹ 20,205.0) (₹ 15,168.0)

₹ 30.0 ₹ 67.0 ₹ 171.0 ₹ 351.0 ₹ 230.0
(₹ 329.0) (₹ 130.0) (₹ 1,439.0) (₹ 7,530.0) (₹ 3,008.0)
₹ 2,381.0 ₹ 5,644.0 ₹ 21.0 ₹ 226.0 ₹ 104.0
₹ 690.0 ₹ 761.0 ₹ 1,104.0 ₹ 428.0 ₹ 653.0
₹ 1,797.0 ₹ 232.0 ₹ 21.0 ₹ 18.0 ₹ 32.0
- - - - -
(₹ 4.0) (₹ 9.0) (₹ 606.0) (₹ 10.0) -
₹ 14.0 ₹ 533.0 - - -
- (₹ 8.0) (₹ 27.0) - (₹ 98.0)
- - - - -
₹ 5,360.0 ₹ 7,335.0 (₹ 2,659.0) ₹ 1,051.0 ₹ 12,813.0
(₹ 25,140.0) (₹ 20,879.0) (₹ 33,116.0) (₹ 25,671.0) (₹ 4,442.0)
 - - ₹ 3,889.0 ₹ 2,603.0 ₹ 19.0
- - - - -
₹ 37,482.0 ₹ 51,128.0 ₹ 38,297.0 ₹ 46,641.0 ₹ 46,578.0
(₹ 29,964.0) (₹ 35,198.0) (₹ 29,847.0) (₹ 29,709.0) (₹ 42,816.0)
- - - - -
(₹ 5,411.0) (₹ 7,005.0) (₹ 7,518.0) (₹ 8,123.0) (₹ 9,251.0)
(₹ 96.0) (₹ 95.0) (₹ 57.0) (₹ 30.0) (₹ 100.0)
- - (₹ 1,346.0) (₹ 1,477.0) (₹ 1,559.0)
- - (₹ 29.0) - ₹ 3,750.0
₹ 2,011.0 ₹ 8,830.0 ₹ 3,389.0 ₹ 9,905.0 (₹ 3,379.0)

(₹ 5,706.0) (₹ 378.0) ₹ 1,971.0 ₹ 13,141.0 (₹ 4,013.0)

COMPANY NAME TATA COMMUNICATIONS LTD
LATEST VERSION 2.10 PLEASE DO NOT MAKE
CURRENT VERSION 2.10

META
Number of shares 28.50
Face Value 10
Current Price 1871.15
Market Capitalization 53336.38

PROFIT & LOSS 5,444.72

Report Date Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Sales 19913.34 18148.58 17619.73 16771.69 16524.95
Raw Material Cost
Change in Inventory
Power and Fuel 433.67 252.04 271 253.75 283.86
Other Mfr. Exp 11595.11 10738.8 10125.85 9205.52 8489
Employee Cost 2809.35 2739.56 2839.41 2977.52 2959.66
Selling and admin 1751.04 1624.45 1643.43 1517.92 1567.95
Other Expenses 330.12 359.49 334.14 404.76 479.63
Other Income 291.24 82.42 1293.82 -115.86 62.5
Depreciation 2161.09 1864.29 1865.77 1906.3 2067.6
Interest 750.79 409.06 367.19 344.45 396.55
Profit before tax 373.41 243.31 1466.76 45.61 343.2
Tax 370.46 232.85 236.38 354.92 273.32
Net profit 1.29 8.68 1232.87 -328.6 -82.37
Dividend Amount 156.75 122.55 171 128.25 128.25
Effective Tax Rate 99% 96% 16% 778% 80%

EBITDA 3,283.63 2,514.88 3,702.21 2,277.07 2,655.10

Quarters
Report Date Dec-21 Mar-22 Jun-22 Sep-22 Dec-22
Sales 4184.89 4263.03 4310.52 4430.74 4528.34
Expenses 3102.41 3217.69 3233.49 3301.12 3450.98
Other Income 27.29 242.63 233.99 112.97 30.75
Depreciation 542.46 588.72 536.86 551.63 554.82
Interest 83.45 89.77 79.9 97.78 122.67
Profit before tax 483.86 609.48 694.26 593.18 430.62
Tax 95.81 243.27 159.14 65.85 43.58
Net profit 395.21 365.06 543.76 532.29 393.88
Operating Profit 1082.48 1045.34 1077.03 1129.62 1077.36
EBITDA 1,116.93 1,286.82 1,319.66 1,247.55 1,114.95

BALANCE SHEET
Report Date Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Equity Share Capital 285 285 285 285 285
Reserves 36.47 -648.36 1306.9 214.32 -466.81
Borrowings 13075.72 14230.86 9213.6 8926.97 9934.94
Other Liabilities 10798.06 11230.03 10227.75 10130.93 10198.02
Total 24195.25 25097.53 21033.25 19557.22 19951.15
Net Block 14703.82 14443.81 10928.51 10796.54 11289.39
Capital Work in Progress 638.34 799.82 750.92 520.31 361.34
Investments 1767.5 1837.22 2433.96 1250.19 1491.27
Other Assets 7085.59 8016.68 6919.86 6990.18 6809.15
Total 24195.25 25097.53 21033.25 19557.22 19951.15
Receivables 2487 3018.86 2590.04 2953.47 2968.45
Inventory 26.4 25.42 19.2 26.99 76.58
Cash & Bank 1621.15 1976.27 1079.29 1295.58 852.08
No. of Equity Shares 285000000 285000000 285000000 285000000 285000000
New Bonus Shares
Face value 10 10 10 10 10

CASH FLOW:
Report Date Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Cash from Operating Activity 3028.34 2362.69 2393.5 1712.81 1844.33
Cash from Investing Activity -1908.16 -2313.36 939.87 -500.08 -2283.95
Cash from Financing Activity -1388.3 -8.58 -3275.72 -959.11 -27.7
Net Cash Flow -268.12 40.75 57.65 253.62 -467.32

PRICE: 263.5 235.78 450.86 387.23 382.61

DERIVED:
Adjusted Equity Shares in Cr 28.50 28.50 28.50 28.50 28.50

Mar-13 Mar-14 Mar-15 Mar-16 Mar-17

Cash from Operating Activity - 7,102.00 7,344.00 9,843.00 9,799.00 10,627.00
Profit from operations 11,218.00 13,172.00 14,261.00 15,154.00 16,075.00
Receivables -446.00 -1,546.00 558.00 -207.00 -870.00
Inventory -985.00 -755.00 -505.00 -693.00 593.00
Payables - 456.00 -23.00 622.00 321.00
Other WC items 331.00 - - - -
Working capital changes -1,101.00 -1,844.00 31.00 -277.00 44.00
Direct taxes -3,015.00 -3,984.00 -4,449.00 -5,078.00 -5,492.00
Cash from Investing Activity - -3,881.00 -3,254.00 -5,275.00 -3,921.00 -3,251.00
Fixed assets purchased -2,644.00 -2,887.00 -3,300.00 -2,348.00 -3,122.00
Fixed assets sold 10.00 38.00 9.00 8.00 50.00
Investments purchased -75,713.00 -94,242.00 -98,742.00 -154,081.00 -85,683.00
Investments sold 75,152.00 93,293.00 99,658.00 150,651.00 81,034.00
Interest received 265.00 374.00 559.00 741.00 756.00
Dividends received 249.00 192.00 268.00 64.00 4.00
Invest in subsidiaries - - - -8.00 -
Investment in group cos - - - - -
Redemp n Canc of Shares - - - - 129.00
Other investing items -1,200.00 -21.00 -3,728.00 1,052.00 3,579.00
PLEASE DO NOT MAKE ANY CHANGES TO THIS SHEET

4,649.46
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
17067.99 17100.1 16724.73 17838.26 20968.82

293 269.11 273.02 316.58 355.84

8670.36 8222.19 7951.89 8219.33 10148.69
3039.14 3049.09 3040.34 3597.46 4452.95
1381.48 973.68 980.13 1083.02 1361.88
395.06 325.45 252.63 303.64 419.36
-320.83 82.04 338.05 439.5 46.81
2357.72 2313.87 2204.54 2261.81 2469.67
470.74 420.2 360.25 432.46 644.15
139.66 1608.55 1999.98 2063.46 1163.09
226.67 354.89 522.13 296.62 213.5
-85.96 1250.63 1481.76 1795.96 968.34
114 399 589.95 598.5 475.95
162% 22% 26% 14% 18%

2,969.17 4,339.59 4,568.68 4,786.85 4,295.66

Mar-23 Jun-23 Sep-23 Dec-23 Mar-24

4568.66 4771.36 4872.5 5633.26 5691.7
3534.44 3747.32 3857.05 4498.95 4635.4
61.79 190.6 25.36 -174.04 4.89
618.5 579.74 605.12 618.97 665.84
132.11 131.03 137.42 187.55 188.15
345.4 503.87 298.27 153.75 207.2
28.05 130.63 77.88 113.47 -108.48
326.03 381.69 220.66 44.81 321.18
1034.22 1024.04 1015.45 1134.31 1056.3
1,104.69 1,223.09 1,041.08 964.80 1,066.69

Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

285 285 285 285 285
 -1563.36 -169.54 642.59 1233.26 1501.42
12413.49 11393.6 9121.54 8576.64 11263.17
10995.97 9796.51 9588.38 10424.41 11315.85
22131.1 21305.57 19637.51 20519.31 24365.44
12768.18 11519.61 10936.2 10499.58 13467.41
348.86 492.92 852.46 1148.06 1327.03
1563.1 2233.36 1565.23 1950.55 1608.22
7450.96 7059.68 6283.62 6921.12 7962.78
22131.1 21305.57 19637.51 20519.31 24365.44
3228.87 2607.68 2582.13 2734.99 3758.36
72.97 34.44 37.88 160 83.54
909.13 927.1 743.39 1062.57 842.45
285000000 285000000 285000000 285000000 285000000

10 10 10 10 10
-668.83 21.71 182.35 3,633.67

Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

2524.76 3179.83 4203.82 4384.35 3182
-1521.49 -2007.21 -893.58 -1835.93 -2641.48
-942.33 -1204.77 -3431.23 -2240.8 -812.95
60.94 -32.15 -120.99 307.62 -272.43

233.15 1062.8 1228.6 1245.5 2010.4

28.50 28.50 28.50 28.50 28.50

Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23

13,169.00 12,583.00 14,690.00 12,527.00 15,776.00 18,878.00
17,433.00 18,862.00 19,416.00 17,326.00 20,857.00 26,052.00
-964.00 -755.00 1,411.00 -66.00 -732.00 -884.00
602.00 -359.00 -508.00 -1,460.00 -466.00 -1,098.00
2,098.00 639.00 -607.00 1,112.00 1,099.00 1,058.00
- - - - - -
1,736.00 -476.00 296.00 -413.00 -100.00 -924.00
-6,000.00 -5,803.00 -5,023.00 -4,387.00 -4,982.00 -6,250.00
-7,114.00 -5,546.00 -6,174.00 5,740.00 -2,238.00 -5,732.00
-2,878.00 -3,169.00 -2,441.00 -1,837.00 -2,142.00 -2,743.00
80.00 28.00 27.00 3.00 133.00 49.00
-98,330.00 -94,187.00 -79,835.00 -57,553.00 -69,776.00 -80,932.00
95,017.00 92,454.00 75,835.00 62,797.00 70,992.00 77,230.00
736.00 1,184.00 1,513.00 1,275.00 1,035.00 1,324.00
13.00 13.00 17.00 7.00 16.00 19.00
- - - - - -
- - - -2.00 -2.00 -2.00
18.00 18.00 - - - 56.00
-1,769.00 -1,887.00 -1,290.00 1,051.00 -2,494.00 -733.00
 Ratio Analysis - POWER FINAN
Years Mar-15 Mar-16 Mar-17 Mar-18 Mar-19

Sales Growth -8.86% -2.91% -4.81% -1.47%

GrossProfit Growth -8.86% -2.91% -4.81% -1.47%
EBITDA Growth -23.41% 47.21% -38.49% 16.60%
EBIT Growth -35.03% 508.31% -98.21% 625.49%
Net Profit Growth 572.87% 14103.57% -126.65% -74.93%
Dividend Growth -10739.30% -1398.00% -52.90% -116.67%

Gross Margin 100.00% 100.00% 100.00% 100.00% 100.00%

EBITDA Margin 16.49% 13.86% 21.01% 13.58% 16.07%
EBIT Margin 5.64% 3.58% 10.42% 2.21% 3.56%
EBT Margin (Op. margin) 1.87% 1.33% 8.34% 0.16% 1.16%
Net Profit Margin 0.01% 0.05% 7.00% -1.96% -0.50%

SalesExpenses%Sales 8.79% 8.95% 9.33% 9.05% 9.49%

Depreciation%Sales 10.85% 10.27% 10.59% 11.37% 12.51%
OperatingIncome%Sales (E 1.87% 1.33% 8.34% 0.16% 1.16%

Return on Capital Employe 8.38% 4.69% 17.00% 3.93% 6.02%

Retained Earnings% 0.00% 0.00% 86.13% 0.00% 0.00%
Return on Equity% 0.01% 0.06% 11.41% -3.49% -0.84%
Self Sustained Growth Rate 0.00% 0.00% 9.83% 0.00% 0.00%
Interest Coverage Ratio 29773x 28864x 88122x 18053x 24482x

Debtor Turnover Ratio 8.01x 6.01x 6.80x 5.68x 5.57x

Creditor Turnover Ratio 1.84x 1.62x 1.72x 1.66x 1.62x
Inventory Turnover 754.29x 713.95x 917.69x 621.40x 215.79x
Fixed Asset Turnover 1.35x 1.26x 1.61x 1.55x 1.46x
Capital Turnover Ratio 61.94x -49.95x 11.07x 33.59x -90.89x

Debtor Days 46 Days 61 Days 54 Days 64 Days 66 Days

Payable Days 198 Days 226 Days 212 Days 220 Days 225 Days
Inventory Days 0 Days 1 Days 0 Days 1 Days 2 Days
Cash Conversion Cycle -152 Days -165 Days -158 Days -156 Days -158 Days

CFO/Sales 182% 239% 219% 172% 202%

CFO/Total Assets 128% 144% 156% 121% 140%
CFO/Total Debt 278% 305% 419% 323% 335%
s - POWER FINANCE CORPORATION LTD
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Trend Mean

3.29% 0.19% -2.20% 6.66% 17.55% 0.83%

3.29% 0.19% -2.20% 6.66% 17.55% 0.83%
11.83% 46.15% 5.28% 4.78% -10.26% 6.63%
-26.31% 1041.01% 24.81% 4.43% -43.52% 222.33%
4.36% -1554.90% 18.48% 21.20% -46.08% 1435.32%
23.08% 164.52% 7.91% -6.49% 15.83% -1344.67%

100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

17.40% 25.38% 27.32% 26.83% 20.49% 19.84%
3.58% 11.85% 14.14% 14.16% 8.71% 7.78%
0.82% 9.39% 11.98% 11.73% 5.64% 5.24%
-0.50% 7.31% 8.86% 10.07% 4.62% 3.49%

8.09% 5.69% 5.86% 6.07% 6.49% 7.78%

13.81% 13.53% 13.18% 12.68% 11.78% 12.06%
0.82% 9.39% 11.98% 11.73% 5.64% 5.24%

5.49% 17.60% 23.53% 25.01% 13.99% 12.56%

0.00% 68.10% 60.19% 66.68% 50.85% 33.19%
-0.77% 10.87% 14.75% 17.79% 7.42% 5.72%
0.00% 7.40% 8.87% 11.86% 3.77% 4.17%
22170x 82437x 109756x 104154x 59441x 56725x

5.29x 6.56x 6.48x 6.52x 5.58x 6.25x

1.55x 1.75x 1.74x 1.71x 1.85x 1.71x
233.90x 496.52x 441.52x 111.49x 251.00x 475.76x
1.34x 1.48x 1.53x 1.70x 1.56x 1.48x
-13.35x 148.10x 18.03x 11.75x 11.74x 14.20x

69 Days 56 Days 56 Days 56 Days 65 Days 59 Days

235 Days 209 Days 209 Days 213 Days 197 Days 215 Days
2 Days 1 Days 1 Days 3 Days 1 Days 1 Days
-165 Days -153 Days -152 Days -154 Days -130 Days -154 Days

169% 137% 187% 149% 0% 165.53%

109% 94% 136% 109% 0% 113.68%
232% 205% 342% 311% 0% 274.99%
Median

-1.47%
-1.47%
5.28%
4.43%
4.36%
-6.49%

100.00%
18.94%
7.17%
3.75%
2.33%

8.44%
12.14%
3.75%

11.19%
25.42%
3.74%
1.89%
44607.12 x

6.24 x
1.72 x
469.02 x
1.51 x
11.74 x

59 Days
213 Days
1 Days
-155 Days

177.13%
124.58%
307.93%
 ITC LTD - SALES Forecasting ITC LTD - EBITDA Fo
Year weight (x) Year Sales (Y) Sales Growth Year weight (x)
1 Mar-14 19,913.34 1
2 Mar-15 18,148.58 -8.86% 2
3 Mar-16 17,619.73 -2.91% 3
4 Mar-17 16,771.69 -4.81% 4
5 Mar-18 16,524.95 -1.47% 5
6 Mar-19 17,067.99 3.29% 6
7 Mar-20 17,100.10 0.19% 7
8 Mar-21 16,724.73 -2.20% 8
9 Mar-22 17,838.26 6.66% 9
10 Mar-23 20,968.82 17.55% 10
11 Mar/24 F 18,013.83 -14.09% 11
12 Mar/25 F 18,040.38 0.15% 12
13 Mar/26 F 18,066.93 0.15% 13
14 Mar/27 F 18,093.47 0.15% 14

ITC LTD - Net Profit Forecasting

Year weight (x) Year Sales (Y) Sales Growth
1 Mar-14 1.29
2 Mar-15 8.68 572.87%
3 Mar-16 1,232.87 14103.57%
4 Mar-17 -328.60 -126.65%
5 Mar-18 -328.60 0.00%
6 Mar-19 -82.37 -74.93%
7 Mar-20 -85.96 4.36%
8 Mar-21 1,250.63 -1554.90%
9 Mar-22 1,481.76 18.48%
10 Mar-23 1,795.96 21.20%
11 Mar/24 F 1,412.12 -21.37%
12 Mar/25 F 1,578.94 11.81%
13 Mar/26 F 1,745.77 10.57%
14 Mar/27 F 1,912.60 9.56%
ITC LTD - EBITDA Forecasting ITC LTD - Earning per share Forecasting
Year EBITDA (Y) Sales Growth Year weight (x) Year
Mar-14 3,283.63 1 Mar-14
Mar-15 2,514.88 -23.41% 2 Mar-15
Mar-16 3,702.21 47.21% 3 Mar-16
Mar-17 2,277.07 -38.49% 4 Mar-17
Mar-18 2,655.10 16.60% 5 Mar-18
Mar-19 2,969.17 11.83% 6 Mar-19
Mar-20 4,339.59 46.15% 7 Mar-20
Mar-21 4,568.68 5.28% 8 Mar-21
Mar-22 4,786.85 4.78% 9 Mar-22
Mar-23 4,295.66 -10.26% 10 Mar-23
Mar/24 F 4,734.15 10.21% 11 Mar/24 F
Mar/25 F 4,951.40 4.59% 12 Mar/25 F
Mar/26 F 5,168.65 4.39% 13 Mar/26 F
Mar/27 F 5,385.90 4.20% 14 Mar/27 F
Earning per share Forecasting
EPS (Y) Sales Growth
0.00
0.03 572.87%
4.33 14103.57%
-1.15 -126.65%
-0.29 -74.93%
-0.30 4.36%
4.39 -1554.90%
5.20 18.48%
6.30 21.20%
3.40 -46.08%
5.37 58.07%
5.95 10.77%
6.53 9.72%
7.11 8.86%
Weighted Average Cost of Capital

All Figures are in INR unless stated otherwise

Peer Competitions

Name of the Competitions Country Total Debt Total Equity

ITC Ltd. India 438 546710
Hind. Unilever India 1272 567379
Nestle India India 288 237853
Britannia Inds. India 2778 123490
Godrej Consumer India 3274 124137
Dabur India India 1489 94583

Average
Median

Cost of Debt

Pre-Tax Cost of Debt

Tax Rate (%)
Post-Tax Cost of Debt

Capital Structure

Current
Total Debt 438 0.08%
Market Capitalization 546710 99.92%
Total Capital 547148.16 100%

Debt/Equity 0.08%

NOTES:

1. Tax Rate considered as Marginal Tax Rate for the Country

2. Levered beta is based on 5 year monthly data.
3. Unlevered Beta=Levered Beta/(1+(1-(Tax Rate)*Debt/Equity)
3. Levered Beta=Unlevered Beta*(1+(1-(Tax Rate)*Debt/Equity)
 Debt / Debt / Levered Unlevered
Tax Rate 1 Equity Capital Beta 2 Beta 3
0.08% 0.08% 0.993
0.3 0.22% 0.22% 0.989 0.99
0.3 0.12% 0.12% -0.330 -0.33
0.3 2.25% 2.20% 0.516 0.51
0.3 2.64% 2.57% 0.548 0.54
0.3 1.57% 1.55% 0.720 0.71

30.00% 1.36% 1.33% 0.49 0.483

30.00% 1.65% 1.61% 0.36 0.357

Cost of Equity
Risk Free Rate
8.50% Equity Risk Premium
30% Levered Beta 4
5.95% Cost of Equity

Levered Beta

Target Comps Median Unlevered Beta

1.36% Target Debt/Equity
98.64% Tax Rate
100% Levered Beta

1.38% Weighted Average Cost of Capital

Cost of Equity
Equity Weight

Cost of Debt
Debt Weight

Weighted Average Cost of Capital (WACC)

7.08%
8.53%
0.99
15.55%

0.357
1.38%
30%
0.36

15.55%
98.64%

5.95%
1.36%

15.42%
Regression Beta 2 Years Data

Indian Tabacco Company limited Weekly Returns Nifty Returns

Date Closing Price Weekly Return Closing Price

1/31/2022 218.94 17516.3
2/7/2022 217.21 -0.79% 17374.8
2/14/2022 207.35 -4.54% 17276.3
2/21/2022 204.54 -1.35% 16658.4
2/28/2022 215.58 5.40% 16245.3
3/7/2022 225.96 4.81% 16630.4
3/14/2022 234.13 3.62% 17287.1
3/21/2022 242.21 3.45% 17153.0
3/28/2022 242.16 -0.02% 17670.4
4/4/2022 256.02 5.72% 17784.3
4/11/2022 257.70 0.65% 17475.7
4/18/2022 249.62 -3.13% 17171.9
4/25/2022 248.14 -0.59% 17102.6
5/2/2022 254.92 2.74% 16411.3
5/9/2022 247.23 -3.02% 15782.2
5/16/2022 267.69 8.28% 16266.2
5/23/2022 257.36 -3.86% 16352.5
5/30/2022 266.82 3.68% 16584.3
6/6/2022 264.33 -0.94% 16201.8
6/13/2022 257.62 -2.54% 15293.5
6/20/2022 260.12 0.97% 15699.3
6/27/2022 278.22 6.96% 15752.0
7/4/2022 286.73 3.06% 16220.6
7/11/2022 287.22 0.17% 16049.2
7/18/2022 294.07 2.38% 16719.4
7/25/2022 296.52 0.83% 17158.3
8/1/2022 304.15 2.57% 17397.5
8/8/2022 301.90 -0.74% 17698.2
8/15/2022 305.28 1.12% 17758.4
8/22/2022 306.16 0.29% 17558.9
8/29/2022 316.18 3.28% 17539.4
9/5/2022 323.38 2.27% 17833.3
9/12/2022 324.16 0.24% 17530.8
9/19/2022 338.93 4.56% 17327.3
9/26/2022 325.04 -4.10% 17094.3
10/3/2022 326.90 0.57% 17314.7
10/10/2022 324.94 -0.60% 17185.7
10/17/2022 338.15 4.07% 17576.3
10/24/2022 338.35 0.06% 17786.8
10/31/2022 345.98 2.26% 18117.2
11/7/2022 348.67 0.78% 18349.7
11/14/2022 333.70 -4.29% 18307.7
11/21/2022 332.97 -0.22% 18512.8
11/28/2022 329.88 -0.93% 18696.1
12/5/2022 334.04 1.26% 18496.6
12/12/2022 327.88 -1.85% 18269.0
12/19/2022 319.66 -2.51% 17806.8
12/26/2022 324.40 1.48% 18105.3
1/2/2023 327.83 1.06% 17859.4
1/9/2023 321.66 -1.88% 17956.6
1/16/2023 327.39 1.78% 18027.7
1/23/2023 338.54 3.41% 17604.3
1/30/2023 372.45 10.01% 17854.1
2/6/2023 363.35 -2.44% 17856.5
2/13/2023 375.14 3.24% 17944.2
2/20/2023 382.74 2.03% 17465.8
2/27/2023 382.59 -0.04% 17594.3
3/6/2023 385.62 0.79% 17412.9
3/13/2023 373.25 -3.21% 17100.1
3/20/2023 376.38 0.84% 16945.1
3/27/2023 381.15 1.27% 17359.8
4/3/2023 384.98 1.00% 17599.2
4/10/2023 393.18 2.13% 17828.0
4/17/2023 405.75 3.20% 17624.1
4/24/2023 422.94 4.24% 18065.0
5/1/2023 426.12 0.75% 18069.0
5/8/2023 417.88 -1.94% 18314.8
5/15/2023 417.28 -0.14% 18203.4
5/22/2023 440.88 5.66% 18499.3
5/29/2023 440.68 -0.05% 18534.1
6/5/2023 438.45 -0.51% 18563.4
6/12/2023 453.10 3.34% 18826.0
6/19/2023 444.75 -1.84% 18665.5
6/26/2023 451.60 1.54% 19189.1
7/3/2023 468.40 3.72% 19331.8
7/10/2023 472.90 0.96% 19564.5
7/17/2023 490.45 3.71% 19745.0
7/24/2023 468.45 -4.49% 19646.1
7/31/2023 454.95 -2.88% 19517.0
8/7/2023 448.75 -1.36% 19428.3
8/14/2023 441.65 -1.58% 19310.2
8/21/2023 443.35 0.38% 19265.8
8/28/2023 441.05 -0.52% 19435.3
9/4/2023 442.65 0.36% 19819.9
9/11/2023 448.35 1.29% 20192.3
9/18/2023 443.10 -1.17% 19674.3
9/25/2023 444.40 0.29% 19638.3
10/2/2023 442.15 -0.51% 19653.5
10/9/2023 448.35 1.40% 19751.1
10/16/2023 438.30 -2.24% 19542.7
10/23/2023 433.75 -1.04% 19047.3
10/30/2023 433.25 -0.12% 19230.6
11/6/2023 436.55 0.76% 19425.3
11/13/2023 439.25 0.62% 19731.8
11/20/2023 437.80 -0.33% 19794.7
11/27/2023 449.80 2.74% 20267.9
12/4/2023 449.15 -0.14% 20969.4
12/11/2023 458.20 2.01% 21456.7
12/18/2023 455.20 -0.65% 21349.4
12/25/2023 462.10 1.52% 21731.4
1/1/2024 473.95 2.56% 21710.8
1/8/2024 466.70 -1.53% 21894.6
1/15/2024 471.50 1.03% 21622.4
1/22/2024 455.65 -3.36% 21352.6
-100.00%
 Beta 1
Beta 2
Nifty Returns Beta Drifting

Weekly Return Levered Raw Beta 0.991

Raw Beta Weight 75% Beta 3
-0.81%
-0.57% Market Beta 1
-3.58% Market Beta weight 25%
-2.48% SUMMARY OUTPUT
2.37% Adjusted Beta 0.993
3.95% Regression Statistic
-0.78% Multiple R
3.02% R Square
0.64% Adjusted R
-1.74% Standard Er
-1.74% Observatio
-0.40%
-4.04% ANOVA
-3.83%
3.07% Regression
0.53% Residual
1.42% Total
-2.31%
-5.61%
2.65% Intercept
0.34% X Variable
2.97%
-1.06%
4.18%
2.62%
1.39%
1.73%
0.34%
-1.12%
-0.11%
1.68%
-1.70%
-1.16%
-1.34%
1.29%
-0.74%
2.27%
1.20%
1.86%
1.28%
-0.23%
1.12%
 0.99%
-1.07%
-1.23%
-2.53%
1.68%
-1.36%
0.54%
0.40%
-2.35%
1.42%
0.01%
0.49%
-2.67%
0.74%
-1.03%
-1.80%
-0.91%
2.45%
1.38%
1.30%
-1.14%
2.50%
0.02%
1.36%
-0.61%
1.63%
0.19%
0.16%
1.41%
-0.85%
2.80%
0.74%
1.20%
0.92%
-0.50%
-0.66%
-0.45%
-0.61%
-0.23%
0.88%
1.98%
1.88%
-2.57%
-0.18%
0.08%
0.50%
-1.06%
-2.53%
0.96%
1.01%
1.58%
 0.32%
2.39%
3.46%
2.32%
-0.50%
1.79%
-0.09%
0.85%
-1.24%
-1.25%
-100.00%
 0.991100401794723
0.991100402

0.991100401794723

SUMMARY OUTPUT

Regression Statistics
0.967229036017006
0.935532008114386
0.934899968978252
0.0261184333402802
104

df SS MS F Significance F
1 1.009739 1.00973852502625 1480.18050565 1.53925364883171E-62
102 0.069582 0.0006821725601507
103 1.07932

Coefficients Standard Error t Stat P-value Lower 95%

0.00528858879050668 0.002568 2.0590233100391 0.04203997292 0.00019399333871474
0.991100401794723 0.025761 38.4731140623263 1.5392536E-62 0.940003863455379
 Upper 95% Lower 95.0%
Upper 95.0%
0.01038318424 0.000194 0.010383
1.04219694013 0.940004 1.042197
 Regression Beta 2 Years Data

Hindustan Unilever Limited Weekly Returns Nifty Returns

Date Closing Price Weekly Return Closing Price Weekly Return

1/31/2022 2216.58 17516.3
2/7/2022 2169.88 -2.11% 17374.8 -0.81%
2/14/2022 2222.30 2.42% 17276.3 -0.57%
2/21/2022 2085.98 -6.13% 16658.4 -3.58%
2/28/2022 1940.68 -6.97% 16245.3 -2.48%
3/7/2022 2012.66 3.71% 16630.4 2.37%
3/14/2022 2020.01 0.37% 17287.1 3.95%
3/21/2022 1876.78 -7.09% 17153.0 -0.78%
3/28/2022 1997.04 6.41% 17670.4 3.02%
4/4/2022 2097.85 5.05% 17784.3 0.64%
4/11/2022 2068.16 -1.42% 17475.7 -1.74%
4/18/2022 2043.94 -1.17% 17171.9 -1.74%
4/25/2022 2147.63 5.07% 17102.6 -0.40%
5/2/2022 2065.32 -3.83% 16411.3 -4.04%
5/9/2022 2108.47 2.09% 15782.2 -3.83%
5/16/2022 2235.17 6.01% 16266.2 3.07%
5/23/2022 2239.64 0.20% 16352.5 0.53%
5/30/2022 2202.50 -1.66% 16584.3 1.42%
6/6/2022 2114.04 -4.02% 16201.8 -2.31%
6/13/2022 2028.08 -4.07% 15293.5 -5.61%
6/20/2022 2253.48 11.11% 15699.3 2.65%
6/27/2022 2232.40 -0.94% 15752.0 0.34%
7/4/2022 2442.20 9.40% 16220.6 2.97%
7/11/2022 2512.29 2.87% 16049.2 -1.06%
7/18/2022 2582.81 2.81% 16719.4 4.18%
7/25/2022 2579.68 -0.12% 17158.3 2.62%
8/1/2022 2587.50 0.30% 17397.5 1.39%
8/8/2022 2538.16 -1.91% 17698.2 1.73%
8/15/2022 2576.89 1.53% 17758.4 0.34%
8/22/2022 2515.27 -2.39% 17558.9 -1.12%
8/29/2022 2546.62 1.25% 17539.4 -0.11%
9/5/2022 2532.04 -0.57% 17833.3 1.68%
9/12/2022 2472.82 -2.34% 17530.8 -1.70%
9/19/2022 2623.35 6.09% 17327.3 -1.16%
9/26/2022 2637.44 0.54% 17094.3 -1.34%
10/3/2022 2542.80 -3.59% 17314.7 1.29%
10/10/2022 2519.43 -0.92% 17185.7 -0.74%
10/17/2022 2595.82 3.03% 17576.3 2.27%
10/24/2022 2469.00 -4.89% 17786.8 1.20%
10/31/2022 2465.19 -0.15% 18117.2 1.86%
11/7/2022 2464.70 -0.02% 18349.7 1.28%
11/14/2022 2445.64 -0.77% 18307.7 -0.23%
11/21/2022 2498.57 2.16% 18512.8 1.12%
11/28/2022 2575.03 3.06% 18696.1 0.99%
12/5/2022 2680.54 4.10% 18496.6 -1.07%
12/12/2022 2630.37 -1.87% 18269.0 -1.23%
12/19/2022 2580.94 -1.88% 17806.8 -2.53%
12/26/2022 2521.81 -2.29% 18105.3 1.68%
1/2/2023 2536.97 0.60% 17859.4 -1.36%
1/9/2023 2583.79 1.85% 17956.6 0.54%
1/16/2023 2509.70 -2.87% 18027.7 0.40%
1/23/2023 2572.12 2.49% 17604.3 -2.35%
1/30/2023 2608.16 1.40% 17854.1 1.42%
2/6/2023 2538.00 -2.69% 17856.5 0.01%
2/13/2023 2476.95 -2.41% 17944.2 0.49%
2/20/2023 2446.13 -1.24% 17465.8 -2.67%
2/27/2023 2433.14 -0.53% 17594.3 0.74%
3/6/2023 2427.67 -0.22% 17412.9 -1.03%
3/13/2023 2409.90 -0.73% 17100.1 -1.80%
3/20/2023 2442.79 1.36% 16945.1 -0.91%
3/27/2023 2521.12 3.21% 17359.8 2.45%
4/3/2023 2525.94 0.19% 17599.2 1.38%
4/10/2023 2497.34 -1.13% 17828.0 1.30%
4/17/2023 2459.67 -1.51% 17624.1 -1.14%
4/24/2023 2419.65 -1.63% 18065.0 2.50%
5/1/2023 2462.43 1.77% 18069.0 0.02%
5/8/2023 2583.20 4.90% 18314.8 1.36%
5/15/2023 2600.98 0.69% 18203.4 -0.61%
5/22/2023 2611.71 0.41% 18499.3 1.63%
5/29/2023 2675.07 2.43% 18534.1 0.19%
6/5/2023 2595.81 -2.96% 18563.4 0.16%
6/12/2023 2674.04 3.01% 18826.0 1.41%
6/19/2023 2601.12 -2.73% 18665.5 -0.85%
6/26/2023 2658.65 2.21% 19189.1 2.80%
7/3/2023 2678.46 0.74% 19331.8 0.74%
7/10/2023 2657.41 -0.79% 19564.5 1.20%
7/17/2023 2585.04 -2.72% 19745.0 0.92%
7/24/2023 2565.78 -0.75% 19646.1 -0.50%
7/31/2023 2527.46 -1.49% 19517.0 -0.66%
8/7/2023 2483.58 -1.74% 19428.3 -0.45%
8/14/2023 2536.15 2.12% 19310.2 -0.61%
8/21/2023 2544.89 0.34% 19265.8 -0.23%
8/28/2023 2486.56 -2.29% 19435.3 0.88%
9/4/2023 2495.50 0.36% 19819.9 1.98%
9/11/2023 2451.72 -1.75% 20192.3 1.88%
9/18/2023 2464.38 0.52% 19674.3 -2.57%
9/25/2023 2447.65 -0.68% 19638.3 -0.18%
 10/2/2023 2481.20 1.37% 19653.5 0.08%
10/9/2023 2550.74 2.80% 19751.1 0.50%
10/16/2023 2476.98 -2.89% 19542.7 -1.06%
10/23/2023 2463.98 -0.53% 19047.3 -2.53%
10/30/2023 2490.98 1.10% 19230.6 0.96%
11/6/2023 2486.55 -0.18% 19425.3 1.01%
11/13/2023 2528.80 1.70% 19731.8 1.58%
11/20/2023 2515.20 -0.54% 19794.7 0.32%
11/27/2023 2563.65 1.93% 20267.9 2.39%
12/4/2023 2522.30 -1.61% 20969.4 3.46%
12/11/2023 2522.90 0.02% 21456.7 2.32%
12/18/2023 2575.60 2.09% 21349.4 -0.50%
12/25/2023 2663.95 3.43% 21731.4 1.79%
1/1/2024 2620.05 -1.65% 21710.8 -0.09%
1/8/2024 2544.00 -2.90% 21894.6 0.85%
1/15/2024 2565.40 0.84% 21622.4 -1.24%
1/22/2024 2428.30 -5.34% 21352.6 -1.25%
-100.00% -100.00%

Britannia Industries Limited Weekly Returns Nifty Returns

Date Closing Price Weekly Return Closing Price

1/31/2022 3442.58 17516.3
2/7/2022 3363.86 -2.29% 17374.8
2/14/2022 3364.92 0.03% 17276.3
2/21/2022 3308.00 -1.69% 16658.4
2/28/2022 3258.32 -1.50% 16245.3
3/7/2022 3092.62 -5.09% 16630.4
3/14/2022 3243.43 4.88% 17287.1
3/21/2022 2990.75 -7.79% 17153.0
3/28/2022 3122.34 4.40% 17670.4
4/4/2022 3235.65 3.63% 17784.3
4/11/2022 3237.35 0.05% 17475.7
4/18/2022 3251.31 0.43% 17171.9
4/25/2022 3169.31 -2.52% 17102.6
5/2/2022 3196.90 0.87% 16411.3
5/9/2022 3168.58 -0.89% 15782.2
5/16/2022 3334.57 5.24% 16266.2
5/23/2022 3438.32 3.11% 16352.5
5/30/2022 3411.65 -0.78% 16584.3
6/6/2022 3248.17 -4.79% 16201.8
6/13/2022 3220.38 -0.86% 15293.5
 6/20/2022 3353.03 4.12% 15699.3
6/27/2022 3523.93 5.10% 15752.0
7/4/2022 3752.61 6.49% 16220.6
7/11/2022 3784.02 0.84% 16049.2
7/18/2022 3806.19 0.59% 16719.4
7/25/2022 3834.65 0.75% 17158.3
8/1/2022 3625.93 -5.44% 17397.5
8/8/2022 3598.06 -0.77% 17698.2
8/15/2022 3600.81 0.08% 17758.4
8/22/2022 3588.62 -0.34% 17558.9
8/29/2022 3641.81 1.48% 17539.4
9/5/2022 3587.98 -1.48% 17833.3
9/12/2022 3578.20 -0.27% 17530.8
9/19/2022 3732.70 4.32% 17327.3
9/26/2022 3778.27 1.22% 17094.3
10/3/2022 3721.84 -1.49% 17314.7
10/10/2022 3732.26 0.28% 17185.7
10/17/2022 3728.77 -0.09% 17576.3
10/24/2022 3714.02 -0.40% 17786.8
10/31/2022 3740.07 0.70% 18117.2
11/7/2022 4029.56 7.74% 18349.7
11/14/2022 4036.84 0.18% 18307.7
11/21/2022 4113.18 1.89% 18512.8
11/28/2022 4358.18 5.96% 18696.1
12/5/2022 4335.96 -0.51% 18496.6
12/12/2022 4369.78 0.78% 18269.0
12/19/2022 4258.88 -2.54% 17806.8
12/26/2022 4234.84 -0.56% 18105.3
1/2/2023 4285.57 1.20% 17859.4
1/9/2023 4263.01 -0.53% 17956.6
1/16/2023 4246.15 -0.40% 18027.7
1/23/2023 4306.56 1.42% 17604.3
1/30/2023 4550.82 5.67% 17854.1
2/6/2023 4544.78 -0.13% 17856.5
2/13/2023 4456.83 -1.94% 17944.2
2/20/2023 4367.66 -2.00% 17465.8
2/27/2023 4337.58 -0.69% 17594.3
3/6/2023 4238.33 -2.29% 17412.9
3/13/2023 4289.01 1.20% 17100.1
3/20/2023 4129.15 -3.73% 16945.1
3/27/2023 4249.29 2.91% 17359.8
4/3/2023 4227.32 -0.52% 17599.2
4/10/2023 4192.32 -0.83% 17828.0
4/17/2023 4327.80 3.23% 17624.1
4/24/2023 4553.55 5.22% 18065.0
5/1/2023 4626.00 1.59% 18069.0
5/8/2023 4616.50 -0.21% 18314.8
 5/15/2023 4499.85 -2.53% 18203.4
5/22/2023 4596.20 2.14% 18499.3
5/29/2023 4654.15 1.26% 18534.1
6/5/2023 4878.75 4.83% 18563.4
6/12/2023 5044.70 3.40% 18826.0
6/19/2023 4970.80 -1.46% 18665.5
6/26/2023 5024.55 1.08% 19189.1
7/3/2023 5054.50 0.60% 19331.8
7/10/2023 5133.20 1.56% 19564.5
7/17/2023 5047.00 -1.68% 19745.0
7/24/2023 4903.35 -2.85% 19646.1
7/31/2023 4798.50 -2.14% 19517.0
8/7/2023 4510.30 -6.01% 19428.3
8/14/2023 4535.05 0.55% 19310.2
8/21/2023 4525.80 -0.20% 19265.8
8/28/2023 4484.35 -0.92% 19435.3
9/4/2023 4540.50 1.25% 19819.9
9/11/2023 4532.85 -0.17% 20192.3
9/18/2023 4564.65 0.70% 19674.3
9/25/2023 4537.15 -0.60% 19638.3
10/2/2023 4538.45 0.03% 19653.5
10/9/2023 4574.70 0.80% 19751.1
10/16/2023 4580.00 0.12% 19542.7
10/23/2023 4514.30 -1.43% 19047.3
10/30/2023 4539.55 0.56% 19230.6
11/6/2023 4681.95 3.14% 19425.3
11/13/2023 4718.30 0.78% 19731.8
11/20/2023 4644.15 -1.57% 19794.7
11/27/2023 4970.75 7.03% 20267.9
12/4/2023 4942.20 -0.57% 20969.4
12/11/2023 4913.90 -0.57% 21456.7
12/18/2023 5161.10 5.03% 21349.4
12/25/2023 5338.45 3.44% 21731.4
1/1/2024 5272.35 -1.24% 21710.8
1/8/2024 5151.10 -2.30% 21894.6
1/15/2024 5138.65 -0.24% 21622.4
1/22/2024 5141.90 0.06% 21352.6

Dabur India Limited Weekly Returns Nifty Returns

Date Closing Price Weekly Return Closing Price
1/31/2022 558.2 17516.3
2/7/2022 550.2 -1.43% 17374.8
2/14/2022 537.4 -2.33% 17276.3
2/21/2022 534.5 -0.54% 16658.4
2/28/2022 528.8 -1.06% 16245.3
3/7/2022 537.2 1.58% 16630.4
3/14/2022 549.6 2.32% 17287.1
3/21/2022 509.9 -7.22% 17153.0
3/28/2022 532.2 4.36% 17670.4
4/4/2022 546.4 2.67% 17784.3
4/11/2022 545.4 -0.19% 17475.7
4/18/2022 549.2 0.71% 17171.9
4/25/2022 546.1 -0.56% 17102.6
5/2/2022 501.1 -8.25% 16411.3
5/9/2022 491.3 -1.96% 15782.2
5/16/2022 493.8 0.51% 16266.2
5/23/2022 488.3 -1.12% 16352.5
5/30/2022 504.2 3.27% 16584.3
6/6/2022 492.7 -2.28% 16201.8
6/13/2022 475.4 -3.51% 15293.5
6/20/2022 500.1 5.19% 15699.3
6/27/2022 501.6 0.29% 15752.0
7/4/2022 533.6 6.39% 16220.6
7/11/2022 538.0 0.82% 16049.2
7/18/2022 565.4 5.10% 16719.4
7/25/2022 575.8 1.85% 17158.3
8/1/2022 570.9 -0.85% 17397.5
8/8/2022 573.3 0.42% 17698.2
8/15/2022 578.9 0.96% 17758.4
8/22/2022 563.9 -2.59% 17558.9
8/29/2022 562.6 -0.23% 17539.4
9/5/2022 566.7 0.74% 17833.3
9/12/2022 538.6 -4.96% 17530.8
9/19/2022 560.5 4.05% 17327.3
9/26/2022 564.8 0.77% 17094.3
10/3/2022 532.5 -5.72% 17314.7
10/10/2022 523.8 -1.63% 17185.7
10/17/2022 530.3 1.24% 17576.3
10/24/2022 543.2 2.44% 17786.8
10/31/2022 549.6 1.17% 18117.2
11/7/2022 547.7 -0.35% 18349.7
11/14/2022 543.1 -0.83% 18307.7
11/21/2022 551.1 1.47% 18512.8
11/28/2022 585.4 6.22% 18696.1
12/5/2022 592.9 1.29% 18496.6
12/12/2022 574.1 -3.17% 18269.0
12/19/2022 560.3 -2.40% 17806.8
12/26/2022 556.0 -0.78% 18105.3
1/2/2023 547.4 -1.53% 17859.4
1/9/2023 538.4 -1.66% 17956.6
1/16/2023 560.5 4.10% 18027.7
1/23/2023 556.6 -0.70% 17604.3
1/30/2023 528.5 -5.04% 17854.1
2/6/2023 527.2 -0.24% 17856.5
2/13/2023 529.3 0.39% 17944.2
2/20/2023 529.7 0.07% 17465.8
2/27/2023 529.6 -0.02% 17594.3
3/6/2023 524.8 -0.91% 17412.9
3/13/2023 530.9 1.17% 17100.1
3/20/2023 531.2 0.05% 16945.1
3/27/2023 539.6 1.58% 17359.8
4/3/2023 520.8 -3.49% 17599.2
4/10/2023 522.0 0.24% 17828.0
4/17/2023 520.0 -0.38% 17624.1
4/24/2023 527.7 1.48% 18065.0
5/1/2023 500.1 -5.24% 18069.0
5/8/2023 513.3 2.64% 18314.8
5/15/2023 514.0 0.14% 18203.4
5/22/2023 536.8 4.43% 18499.3
5/29/2023 551.7 2.79% 18534.1
6/5/2023 544.6 -1.30% 18563.4
6/12/2023 565.3 3.81% 18826.0
6/19/2023 557.8 -1.32% 18665.5
6/26/2023 567.3 1.70% 19189.1
7/3/2023 566.6 -0.13% 19331.8
7/10/2023 580.8 2.50% 19564.5
7/17/2023 559.7 -3.63% 19745.0
7/24/2023 578.7 3.40% 19646.1
7/31/2023 566.8 -2.06% 19517.0
8/7/2023 560.3 -1.15% 19428.3
8/14/2023 562.6 0.42% 19310.2
8/21/2023 555.2 -1.32% 19265.8
8/28/2023 550.5 -0.84% 19435.3
9/4/2023 564.2 2.48% 19819.9
9/11/2023 562.6 -0.28% 20192.3
9/18/2023 558.4 -0.74% 19674.3
9/25/2023 548.8 -1.73% 19638.3
10/2/2023 544.3 -0.81% 19653.5
10/9/2023 536.1 -1.52% 19751.1
10/16/2023 522.1 -2.61% 19542.7
10/23/2023 521.9 -0.05% 19047.3
10/30/2023 532.7 2.09% 19230.6
11/6/2023 530.6 -0.40% 19425.3
11/13/2023 540.7 1.90% 19731.8
11/20/2023 537.3 -0.62% 19794.7
11/27/2023 541.2 0.71% 20267.9
12/4/2023 547.5 1.17% 20969.4
12/11/2023 539.7 -1.42% 21456.7
12/18/2023 529.3 -1.93% 21349.4
12/25/2023 557.2 5.27% 21731.4
1/1/2024 569.0 2.13% 21710.8
1/8/2024 549.7 -3.40% 21894.6
1/15/2024 542.3 -1.35% 21622.4
1/22/2024 531.6 -1.97% 21352.6

Godrej Consumer Products Limited Weekly Returns Nifty Returns

Date Closing Price Weekly Return Closing Price

1/31/2022 907.86 17516.3
2/7/2022 820.94 -9.57% 17374.8
2/14/2022 821.34 0.05% 17276.3
2/21/2022 774.52 -5.70% 16658.4
2/28/2022 718.49 -7.23% 16245.3
3/7/2022 705.96 -1.75% 16630.4
3/14/2022 742.82 5.22% 17287.1
3/21/2022 681.48 -8.26% 17153.0
3/28/2022 749.29 9.95% 17670.4
4/4/2022 807.65 7.79% 17784.3
4/11/2022 782.48 -3.12% 17475.7
4/18/2022 793.13 1.36% 17171.9
4/25/2022 778.55 -1.84% 17102.6
5/2/2022 752.38 -3.36% 16411.3
5/9/2022 793.27 5.44% 15782.2
5/16/2022 754.67 -4.87% 16266.2
5/23/2022 780.24 3.39% 16352.5
5/30/2022 759.59 -2.65% 16584.3
6/6/2022 746.26 -1.76% 16201.8
6/13/2022 721.73 -3.29% 15293.5
6/20/2022 790.64 9.55% 15699.3
6/27/2022 777.65 -1.64% 15752.0
7/4/2022 846.06 8.80% 16220.6
7/11/2022 869.90 2.82% 16049.2
 7/18/2022 879.00 1.05% 16719.4
7/25/2022 849.55 -3.35% 17158.3
8/1/2022 868.80 2.27% 17397.5
8/8/2022 860.54 -0.95% 17698.2
8/15/2022 901.44 4.75% 17758.4
8/22/2022 893.38 -0.89% 17558.9
8/29/2022 911.14 1.99% 17539.4
9/5/2022 933.38 2.44% 17833.3
9/12/2022 885.77 -5.10% 17530.8
9/19/2022 886.07 0.03% 17327.3
9/26/2022 905.97 2.25% 17094.3
10/3/2022 825.76 -8.85% 17314.7
10/10/2022 829.30 0.43% 17185.7
10/17/2022 816.21 -1.58% 17576.3
10/24/2022 825.76 1.17% 17786.8
10/31/2022 825.07 -0.08% 18117.2
11/7/2022 814.97 -1.22% 18349.7
11/14/2022 834.77 2.43% 18307.7
11/21/2022 855.12 2.44% 18512.8
11/28/2022 877.31 2.59% 18696.1
12/5/2022 919.05 4.76% 18496.6
12/12/2022 892.38 -2.90% 18269.0
12/19/2022 869.10 -2.61% 17806.8
12/26/2022 869.75 0.07% 18105.3
1/2/2023 912.93 4.97% 17859.4
1/9/2023 912.68 -0.03% 17956.6
1/16/2023 927.81 1.66% 18027.7
1/23/2023 902.63 -2.71% 17604.3
1/30/2023 930.40 3.08% 17854.1
2/6/2023 935.77 0.58% 17856.5
2/13/2023 937.46 0.18% 17944.2
2/20/2023 923.23 -1.52% 17465.8
2/27/2023 921.19 -0.22% 17594.3
3/6/2023 911.84 -1.02% 17412.9
3/13/2023 942.79 3.39% 17100.1
3/20/2023 946.52 0.40% 16945.1
3/27/2023 963.38 1.78% 17359.8
4/3/2023 962.89 -0.05% 17599.2
4/10/2023 958.46 -0.46% 17828.0
4/17/2023 982.29 2.49% 17624.1
4/24/2023 903.03 -8.07% 18065.0
5/1/2023 932.04 3.21% 18069.0
5/8/2023 994.28 6.68% 18314.8
5/15/2023 1004.78 1.06% 18203.4
5/22/2023 1044.78 3.98% 18499.3
5/29/2023 1055.73 1.05% 18534.1
6/5/2023 1030.25 -2.41% 18563.4
6/12/2023 1064.73 3.35% 18826.0
 6/19/2023 1030.85 -3.18% 18665.5
6/26/2023 1075.68 4.35% 19189.1
7/3/2023 1057.37 -1.70% 19331.8
7/10/2023 1057.72 0.03% 19564.5
7/17/2023 1051.35 -0.60% 19745.0
7/24/2023 1030.85 -1.95% 19646.1
7/31/2023 1012.54 -1.78% 19517.0
8/7/2023 1015.13 0.26% 19428.3
8/14/2023 1021.40 0.62% 19310.2
8/21/2023 1025.28 0.38% 19265.8
8/28/2023 1000.40 -2.43% 19435.3
9/4/2023 1015.28 1.49% 19819.9
9/11/2023 997.12 -1.79% 20192.3
9/18/2023 981.29 -1.59% 19674.3
9/25/2023 986.72 0.55% 19638.3
10/2/2023 966.87 -2.01% 19653.5
10/9/2023 978.11 1.16% 19751.1
10/16/2023 983.28 0.53% 19542.7
10/23/2023 982.39 -0.09% 19047.3
10/30/2023 1015.67 3.39% 19230.6
11/6/2023 979.45 -3.57% 19425.3
11/13/2023 996.95 1.79% 19731.8
11/20/2023 1009.50 1.26% 19794.7
11/27/2023 1025.40 1.58% 20267.9
12/4/2023 1021.55 -0.38% 20969.4
12/11/2023 1042.15 2.02% 21456.7
12/18/2023 1074.25 3.08% 21349.4
12/25/2023 1131.20 5.30% 21731.4
1/1/2024 1219.85 7.84% 21710.8
1/8/2024 1155.50 -5.28% 21894.6
1/15/2024 1149.25 -0.54% 21622.4
1/22/2024 1157.30 0.70% 21352.6

Dabur India Limited Weekly Returns Nifty Returns

2/7/2022 17371.42 17516.3
2/14/2022 17560.69 1.09% 17374.8
2/21/2022 17273.82 -1.63% 17276.3
2/28/2022 16958.62 -1.82% 16658.4
3/7/2022 16895.82 -0.37% 16245.3
 3/14/2022 17828.74 5.52% 16630.4
3/21/2022 16733.71 -6.14% 17287.1
3/28/2022 17119.85 2.31% 17153.0
4/4/2022 17993.14 5.10% 17670.4
4/11/2022 17988.68 -0.02% 17784.3
4/18/2022 17798.20 -1.06% 17475.7
4/25/2022 18026.33 1.28% 17171.9
5/2/2022 16713.61 -7.28% 17102.6
5/9/2022 16130.94 -3.49% 16411.3
5/16/2022 16582.38 2.80% 15782.2
5/23/2022 17348.51 4.62% 16266.2
5/30/2022 16886.25 -2.66% 16352.5
6/6/2022 16496.72 -2.31% 16584.3
6/13/2022 16366.42 -0.79% 16201.8
6/20/2022 16945.89 3.54% 15293.5
6/27/2022 17499.95 3.27% 15699.3
7/4/2022 18113.70 3.51% 15752.0
7/11/2022 18460.21 1.91% 16220.6
7/18/2022 18674.05 1.16% 16049.2
7/25/2022 19038.06 1.95% 16719.4
8/1/2022 19591.14 2.91% 17158.3
8/8/2022 19219.16 -1.90% 17397.5
8/15/2022 19118.51 -0.52% 17698.2
8/22/2022 19204.26 0.45% 17758.4
8/29/2022 19237.40 0.17% 17558.9
9/5/2022 18735.32 -2.61% 17539.4
9/12/2022 18099.00 -3.40% 17833.3
9/19/2022 18189.18 0.50% 17530.8
9/26/2022 18827.32 3.51% 17327.3
10/3/2022 19000.60 0.92% 17094.3
10/10/2022 18614.12 -2.03% 17314.7
10/17/2022 19958.39 7.22% 17185.7
10/24/2022 19946.10 -0.06% 17576.3
10/31/2022 20086.59 0.70% 17786.8
11/7/2022 20104.44 0.09% 18117.2
11/14/2022 19711.30 -1.96% 18349.7
11/21/2022 19319.79 -1.99% 18307.7
11/28/2022 19539.26 1.14% 18512.8
12/5/2022 20024.55 2.48% 18696.1
12/12/2022 19526.90 -2.49% 18496.6
12/19/2022 19916.72 2.00% 18269.0
12/26/2022 19395.63 -2.62% 17806.8
1/2/2023 19671.88 1.42% 18105.3
1/9/2023 19572.06 -0.51% 17859.4
1/16/2023 18994.03 -2.95% 17956.6
1/23/2023 19010.15 0.08% 18027.7
1/30/2023 18800.38 -1.10% 17604.3
 2/6/2023 18819.72 0.10% 17854.1
2/13/2023 18817.20 -0.01% 17856.5
2/20/2023 18480.45 -1.79% 17944.2
2/27/2023 18251.93 -1.24% 17465.8
3/6/2023 18287.39 0.19% 17594.3
3/13/2023 18655.80 2.01% 17412.9
3/20/2023 18749.73 0.50% 17100.1
3/27/2023 19493.07 3.96% 16945.1
4/3/2023 19496.78 0.02% 17359.8
4/10/2023 19256.48 -1.23% 17599.2
4/17/2023 20276.91 5.30% 17828.0
4/24/2023 21635.69 6.70% 17624.1
5/1/2023 21892.64 1.19% 18065.0
5/8/2023 21668.25 -1.02% 18069.0
5/15/2023 21564.85 -0.48% 18314.8
5/22/2023 21457.08 -0.50% 18203.4
5/29/2023 21919.09 2.15% 18499.3
6/5/2023 21945.94 0.12% 18534.1
6/12/2023 22835.87 4.06% 18563.4
6/19/2023 22406.66 -1.88% 18826.0
6/26/2023 22762.04 1.59% 18665.5
7/3/2023 22773.88 0.05% 19189.1
7/10/2023 23004.39 1.01% 19331.8
7/17/2023 22849.79 -0.67% 19564.5
7/24/2023 22351.03 -2.18% 19745.0
7/31/2023 22324.79 -0.12% 19646.1
8/7/2023 21716.22 -2.73% 19517.0
8/14/2023 21703.89 -0.06% 19428.3
8/21/2023 22060.32 1.64% 19310.2
8/28/2023 21788.95 -1.23% 19265.8
9/4/2023 21756.83 -0.15% 19435.3
9/11/2023 22491.62 3.38% 19819.9
9/18/2023 22402.33 -0.40% 20192.3
9/25/2023 22376.88 -0.11% 19674.3
10/2/2023 22779.89 1.80% 19638.3
10/9/2023 23418.28 2.80% 19653.5
10/16/2023 24139.44 3.08% 19751.1
10/23/2023 23917.98 -0.92% 19542.7
10/30/2023 23860.41 -0.24% 19047.3
11/6/2023 24137.20 1.16% 19230.6
11/13/2023 24373.05 0.98% 19425.3
11/20/2023 24138.95 -0.96% 19731.8
11/27/2023 24338.60 0.83% 19794.7
12/4/2023 24789.60 1.85% 20267.9
12/11/2023 24366.40 -1.71% 20969.4
12/18/2023 25368.45 4.11% 21456.7
12/25/2023 26580.30 4.78% 21349.4
1/1/2024 2666.40 -89.97% 21731.4
 1/8/2024 2549.60 -4.38% 21710.8
1/15/2024 2514.15 -1.39% 21894.6
1/22/2024 2482.15 -1.27% 21622.4
1/29/2024 2481.40 -0.03% 21352.6
Beta 1 0.989
Beta 2 0.989

Beta 3 0.989

SUMMARY OUTPUT

Regression Statistics
Multiple R 0.960886
R Square 0.923302
Adjusted R 0.92255
Standard Er 0.028607
Observatio 104

ANOVA
df SS MS
Regression 1 1.004828 1.004828
Residual 102 0.08347 0.000818
Total 103 1.088298

Coefficients
Standard Error t Stat
Intercept -0.000822 0.002813 -0.292281
X Variable 0.988687 0.028215 35.04129
 Beta 1
Beta 2
Nifty Returns

Weekly Return

-0.81% Beta 3
-0.57%
-3.58%
-2.48% SUMMARY OUTPUT
2.37%
3.95% Regression Statistics
-0.78% Multiple R 0.336183
3.02% R Square 0.113019
0.64% Adjusted R 0.104237
-1.74% Standard Er 0.026311
-1.74% Observatio 103
-0.40%
-4.04% ANOVA
-3.83% df
3.07% Regression 1
0.53% Residual 101
1.42% Total 102
-2.31%
-5.61% Coefficients
 2.65% Intercept 0.003205
0.34% X Variable 0.516231
2.97%
-1.06%
4.18%
2.62%
1.39%
1.73%
0.34%
-1.12%
-0.11%
1.68%
-1.70%
-1.16%
-1.34%
1.29%
-0.74%
2.27%
1.20%
1.86%
1.28%
-0.23%
1.12%
0.99%
-1.07%
-1.23%
-2.53%
1.68%
-1.36%
0.54%
0.40%
-2.35%
1.42%
0.01%
0.49%
-2.67%
0.74%
-1.03%
-1.80%
-0.91%
2.45%
1.38%
1.30%
-1.14%
2.50%
0.02%
1.36%
 -0.61%
1.63%
0.19%
0.16%
1.41%
-0.85%
2.80%
0.74%
1.20%
0.92%
-0.50%
-0.66%
-0.45%
-0.61%
-0.23%
0.88%
1.98%
1.88%
-2.57%
-0.18%
0.08%
0.50%
-1.06%
-2.53%
0.96%
1.01%
1.58%
0.32%
2.39%
3.46%
2.32%
-0.50%
1.79%
-0.09%
0.85%
-1.24%
-1.25%

Beta 1
Beta 2
Nifty Returns
Weekly Return

-0.81% Beta 3
-0.57%
-3.58%
-2.48%
2.37%
3.95% SUMMARY OUTPUT
-0.78%
3.02% Regression Statistics
0.64% Multiple R 0.488856
-1.74% R Square 0.23898
-1.74% Adjusted R 0.231445
-0.40% Standard Er 0.023363
-4.04% Observatio 103
-3.83%
3.07% ANOVA
0.53% df
1.42% Regression 1
-2.31% Residual 101
-5.61% Total 102
2.65%
0.34% Coefficients
2.97% Intercept -0.001623
-1.06% X Variable 0.719604
4.18%
2.62%
1.39%
1.73%
0.34%
-1.12%
-0.11%
1.68%
-1.70%
-1.16%
-1.34%
1.29%
-0.74%
2.27%
1.20%
1.86%
1.28%
-0.23%
1.12%
0.99%
-1.07%
-1.23%
-2.53%
1.68%
-1.36%
0.54%
0.40%
-2.35%
1.42%
0.01%
0.49%
-2.67%
0.74%
-1.03%
-1.80%
-0.91%
2.45%
1.38%
1.30%
-1.14%
2.50%
0.02%
1.36%
-0.61%
1.63%
0.19%
0.16%
1.41%
-0.85%
2.80%
0.74%
1.20%
0.92%
-0.50%
-0.66%
-0.45%
-0.61%
-0.23%
0.88%
1.98%
1.88%
-2.57%
-0.18%
0.08%
0.50%
-1.06%
-2.53%
0.96%
1.01%
 1.58%
0.32%
2.39%
3.46%
2.32%
-0.50%
1.79%
-0.09%
0.85%
-1.24%
-1.25%

Nifty Returns Beta 1 0.548032

Beta 2 55%
Weekly Return

-0.81%
-0.57%
-3.58% Beta 3 0.548032
-2.48%
2.37%
3.95% SUMMARY OUTPUT
-0.78%
3.02% Regression Statistics
0.64% Multiple R 0.26909
-1.74% R Square 0.07241
-1.74% Adjusted R 0.063226
-0.40% Standard Er 0.035686
-4.04% Observatio 103
-3.83%
3.07% ANOVA
0.53% df SS MS
1.42% Regression 1 0.01004 0.01004
-2.31% Residual 101 0.128622 0.001273
-5.61% Total 102 0.138662
2.65%
0.34% Coefficients
Standard Error t Stat
2.97% Intercept 0.001889 0.00354 0.533568
-1.06% X Variable 0.548032 0.195176 2.807893
 4.18%
2.62%
1.39%
1.73%
0.34%
-1.12%
-0.11%
1.68%
-1.70%
-1.16%
-1.34%
1.29%
-0.74%
2.27%
1.20%
1.86%
1.28%
-0.23%
1.12%
0.99%
-1.07%
-1.23%
-2.53%
1.68%
-1.36%
0.54%
0.40%
-2.35%
1.42%
0.01%
0.49%
-2.67%
0.74%
-1.03%
-1.80%
-0.91%
2.45%
1.38%
1.30%
-1.14%
2.50%
0.02%
1.36%
-0.61%
1.63%
0.19%
0.16%
1.41%
 -0.85%
2.80%
0.74%
1.20%
0.92%
-0.50%
-0.66%
-0.45%
-0.61%
-0.23%
0.88%
1.98%
1.88%
-2.57%
-0.18%
0.08%
0.50%
-1.06%
-2.53%
0.96%
1.01%
1.58%
0.32%
2.39%
3.46%
2.32%
-0.50%
1.79%
-0.09%
0.85%
-1.24%
-1.25%

Nifty Returns

-0.81%
-0.57% Beta 1
-3.58% Beta 2
-2.48%
 2.37%
3.95%
-0.78%
3.02% Beta 3
0.64%
-1.74%
-1.74%
-0.40%
-4.04% SUMMARY OUTPUT
-3.83%
3.07% Regression Statistics
0.53% Multiple R 0.064624
1.42% R Square 0.004176
-2.31% Adjusted R -0.005683
-5.61% Standard Er 0.09277
2.65% Observatio 103
0.34%
2.97% ANOVA
-1.06% df
4.18% Regression 1
2.62% Residual 101
1.39% Total 102
1.73%
0.34% Coefficients
-1.12% Intercept -0.004296
-0.11% X Variable -0.330216
1.68%
-1.70%
-1.16%
-1.34%
1.29%
-0.74%
2.27%
1.20%
1.86%
1.28%
-0.23%
1.12%
0.99%
-1.07%
-1.23%
-2.53%
1.68%
-1.36%
0.54%
0.40%
-2.35%
 1.42%
0.01%
0.49%
-2.67%
0.74%
-1.03%
-1.80%
-0.91%
2.45%
1.38%
1.30%
-1.14%
2.50%
0.02%
1.36%
-0.61%
1.63%
0.19%
0.16%
1.41%
-0.85%
2.80%
0.74%
1.20%
0.92%
-0.50%
-0.66%
-0.45%
-0.61%
-0.23%
0.88%
1.98%
1.88%
-2.57%
-0.18%
0.08%
0.50%
-1.06%
-2.53%
0.96%
1.01%
1.58%
0.32%
2.39%
3.46%
2.32%
-0.50%
1.79%
-0.09%
0.85%
-1.24%
-1.25%
 F Significance F
1227.89231850577 1.09E-58

P-value Lower 95%Upper 95%Lower 95.0%

Upper 95.0%
0.770665530105692 -0.006402 0.004758 -0.006402 0.004758
1.09024934381201E-58 0.932723 1.044652 0.932723 1.044652
 0.516231357463661
52%

0.516231357463661

SS MS F Significance F
0.00890903163567514 0.008909 12.86941 0.000517
0.0699186716948667 0.000692
0.0788277033305418

Standard Error t Stat P-value Lower 95%Upper 95%Lower 95.0%

Upper 95.0%
0.0026098337790831 1.228151 0.222245 -0.001972 0.008382 -0.001972 0.008382
0.14390140308031 3.587396 0.000517 0.23077 0.801693 0.23077 0.801693
0.719604393770679
72%
 0.71960439377068

SS MS F Significance F
0.0173112867866139 0.017311 31.71657 1.612E-07
0.0551270251138433 0.000546
0.0724383119004572

Standard Error t Stat P-value Lower 95%Upper 95%Lower 95.0%

Upper 95.0%
0.00231738686882017 -0.700412 0.485281 -0.00622 0.002974 -0.00622 0.002974
0.127776421845634 5.631746 1.612E-07 0.46613 0.973078 0.46613 0.973078
 F Significance F
7.88426519541521 0.005986

P-value Lower 95%Upper 95%Lower 95.0%

Upper 95.0%
0.594812808772638 -0.005133 0.008911 -0.005133 0.008911
0.00598633021149733 0.160856 0.935208 0.160856 0.935208
-0.330
-0.330
 -0.330

SS MS F Significance F
0.0036453327057604 0.003645 0.423567 0.51664
0.869232972206709 0.008606
0.87287830491247

Standard Error t Stat P-value Lower 95%Upper 95%Lower 95.0%

Upper 95.0%
0.0092020451394241 -0.466893 0.641582 -0.022551 0.013958 -0.022551 0.013958
0.507383733548232 -0.65082 0.51664 -1.336729 0.676297 -1.336729 0.676297
 Return on Markets

Year Annual
2000 -14.65% Average Return 15.61%
2001 -16.18% Dividend Yield 1.23% 1
2002 3.25% Total Market Return 15.61%
2003 71.90%
2004 10.68%
2005 36.34%
2006 39.83%
2007 54.77%
2008 -51.79%
2009 75.76%
2010 17.95%
2011 -24.62%
2012 27.70%
2013 6.76%
2014 31.39%
2015 -4.06%
2016 3.01%
2017 28.65%
2018 3.15%
2019 12.02%
2020 14.90%
2021 24.12%
2022 4.32%
2023 19.42%
 Calculation of Return on Invested Capital Mar-20 Mar-21 Mar-22

Current Assets
Inventories 73 34 38
Trade receivables 3,229 2,608 2,582
Short term loans 6 7 11
Other asset items 4,952 4,015 6,906
Total Current Assets 8,260 6,664 9,537

Current Liabilities
Trade Payables 3,630 4,319 4,417
Advance from Customers 703 811 1,278
Other liability items 7,050 7,666 8,429
Total Current Liabilities 11,383 12,796 14,124

# Net Working Capital (3,123) (6,132) (4,587)

Land 2,797 2,889 2,829

Building 8,161 8,387 9,100
Plant Machinery 14,625 15,307 16,912
Equipments 40 41 44
Furniture n fittings 810 833 907
Railway sidings 2 2 2
Vehicles 184 180 179
Intangible Assets 684 2,734 2,744

Other fixed assets 663 716 719

Gross Block 27,966 31,089 33,436
Accumulated Depreciation Err:509 Err:509 Err:509
# Net Block Err:509 Err:509 Err:509

# Investment 24,843 24,957 28,849

EBIT (330) 1,185 1,644

ROIC (0) 0 0

Calculation of Reinvestment Rate 43,921 44,286 44,651

Net Capex 2,414 1,834 2,009

Change in Working Capital (3,009) 1,545

EBIT (330) 1,185 1,644

Marginal Tax Rate 0 0 0
EBIT(1-T) (231) 830 1,151

Reinvestment (1,175) 3,554

Reinvestment Rate (1) 3

Average 117%
Median 184%

Calculation of Growth Rate Mar-20 Mar-21 Mar-22

Reinvestment Rate -142% 309%

ROIC -1.33% 4.75% 5.70%

Intrinsic Growth Rate -7% 18%

Average 7%
Median 10%
Mar-23

160
2,735
13
7,941
10,849

4,659
1,295
10,032
15,986

(5,137)

2,830
9,789
18,480
44
1,000
2
189
3,490

786
36,610
Err:509
Err:509

31,473

1,660
 0

45,016

2,694
(550)

1,660
0
1,162

2,144
2

Mar-23

184%
5.27%

10%