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Key Ratios

 
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  Previous GAAP Ind AS
Year ending March 2008 2009 2010 2011 2012 2013 2014 2015 2016 2016^^ 2017
Summarised Financials
(Rs. Crores)
     
Equity 377 378 382 774 782 790 795 802 805 805 1215
Net Worth 12058 13735 14064 15953 18792 22288 26262 30736 32929 41656 45341
Average Capital Employed 11964 13798 14868 15906 18304 21661 25597 30023 33620 41292 45402
Net Revenue 13948 15612 18153 21168 24798 29606 32883 36083 36475 36475 38979
EBITDA 5015 5393 6689 7993 9674 11566 13562 15017 16042 15484 16564
EBIT 4576 4844 6080 7337 8975 10771 12662 14055 15008 14483 15526
PAT 3120 3264 4061 4988 6162 7418 8785 9608 9845 9328 10201


  2008 2009 2010 2011 2012 2013 2014 2015 2016 2016 2017
Key Ratios                      
(i) Net Worth Per Share (Rs.) * 10.67 12.13 12.28 13.74 16.02 18.80 22.01 25.56 40.92 34.51 37.33
(ii) Debt-Equity Ratio 0.01:1 0.01:1 0.01:1 0.01:1 0.004:1 0.003:1 0.002:1 0.001:1 0.001:1 0.001:1 0.0004:1
(iii) Return on Equity (%) 27.74 25.31 29.22 33.23 35.47 36.12 36.19 33.71 30.93 23.63 23.45
(iv) Net Revenue /Avg.Capital Employed (x) 1.17 1.13 1.22 1.33 1.35 1.37 1.28 1.20 1.08 0.88 0.86
(v) Return on Avg Capital Employed (%) 38.25 35.11 40.89 46.13 49.04 49.72 49.47 46.81 44.64 35.07 34.20
(vi) EV/ EBITDA (x) 15.02 12.41 14.22 16.80 17.60 20.37 20.00 16.47 15.65 16.63 19.95
(vii) PE Ratio (x) 24.93 21.39 24.71 28.13 28.81 32.92 31.97 27.15 26.82 28.30 33.40
(viii) Earnings Per Share (Rs.) * 2.76 2.88 3.55 4.30 5.25 6.26 7.36 7.99 8.16 7.73 8.40
(ix) Cash Earnings Per Share (Rs.) * 3.21 3.65 4.01 4.88 5.91 7.21 8.18 9.10 9.19 8.73 9.27
(x) EBIT / Net Revenue (%) 32.81 31.03 33.49 34.66 36.19 36.38 38.51 38.95 41.14 39.71 39.83
(xi) EBITDA / Net Revenue (%) 35.96 34.55 36.85 37.76 39.01 39.07 41.24 41.62 43.98 42.45 42.49
(xii) EBIT / Interest (x) 992.71 264.41 93.90 107.29 115.19 124.56 - 244.77 305.47 294.79 676.51

* Based on number of shares outstanding at the year-end & to facilitate like to like comparison, adjusted for 1:1 Bonus Issue in 2011 and 1:2 Bonus Issue in 2017

^^ Figures are restated as per Ind AS.

Under Ind AS (adopted from Financial year 2016-17), dividends are accounted in the year in which due approval of shareholders is obtained, whereas under Previous GAAP, the proposed dividends were accounted and reduced from Reserves and Surplus, considered for Net Worth and Capital Employed, in the financial year to which they related.

Hence, the metrics under Key Ratios (Sl. No. i, iii, iv & v) for the FY ending March 2017 under Ind AS have been shown alongside the like-for-like restated figures under Ind AS for FY March 2016.

Note:

Average denotes average of opening and closing balance
Net Worth (Shareholder's Funds) = Equity + Reserves and Surplus
Capital Employed = Net Worth + Long-term Borrowings + Short-term Borrowings + Current maturities of Long-term Debts + Deferred Tax Liabilities (Net)
EBITDA: Earnings before interest, tax, depreciation & amortisation (including Other Income)
EBIT: Earnings before interest & tax
PAT: Profit after tax
Debt-Equity Ratio = Long-term borrowings/ Net Worth
Return on Equity = PAT /Average Net Worth
Return on Average Capital Employed = EBIT/Average Capital Employed
EV (Enterprise Value) = Closing Market Capitalisation, quoted on the Bombay Stock Exchange (BSE) + Loan Funds - (Current Investments + Cash and Cash Equivalents)
PE (Price Earnings) ratio based on year end closing prices, quoted on the BSE
Cash Earning Per Share = (PAT+Deferred Tax + Depreciation)/ No. of Shares at the year-end
Figures for the periods prior to 2011 have been broadly re-classified/re-arranged/re-grouped, wherever material, as per revised Schedule VI to the erstwhile Companies Act, 1956 in order to facilitate like to like comparison.