Introduction

We are the students of PGDM (FS) batch 2018-2020, and studying a

major subject of our course i.e ACCOUNTING FUNDAMENTALS. We are
given a project by our course Professor. For this project the whole class
has been divided into LEARNING TEAMS (LT), each LT has six members
and we belong to LEARNING TEAM-04. Under this whole project each LT
has to select an industry of their own choice and further from that same
industry each member of the LT has to select one company of his/her
own choice (only condition is that the selected company should be
listed under INDIAN STOCK EXCHANGE) and further every member of
the LT has to perform Financial Analysis work on his/her company.

So, for this project we the members of LT-04 has selected to work upon
AUTOMOTIVE INDUSTRY.

Reason behind selecting Automotive Industry:- The reason

behind selecting AUTOMOTIVE INDUSTRY is that all of our LT members
have interest in this industry and always wanted to work on
AUTOMOTIVE INDUSTRY to more about it.
So, the companies that we have chosen form AUTOMOTIVE INDUSTRY
are as follows:-

S.no Name of Company Name Logo

Student
01. Akash Singh Maruti Suzuki

02. Akshay Yadav Eicher Motors

03. Kamya Jaiswal Tata Motors

04. Sridhar Bajaj Auto

Vistalamuri

05. Mayank Singh Mahindra &

Mahindra

06. Divya Prakash Hero MotoCrop.

Objectives of the Project:-
The major objectives of the project are as follows:-

Methodology used in the project:-

1) In this project we will be using RATIO ANALYSIS approach for
analyzing the financial position of the company.
2) We will be taking TIME SERIES ANALYSIS as a standard of
comparison.
3) Moreover, we will be using two years data of the companies i.e
2016-17 and 2017-18.
4) At the last we will be doing INDUSTRY ANALYSIS also.

Limitations of the project: -

1) In this whole project we will be using only one tool for analysis i.e
RATIO ANALYSIS.
2) Time period for analysis is limited to two years only.
 3) Industry analysis is limited to 6 companies only.

Conclusion:-
First company:- Maruti Suzuki
Analysis done by:- Akash Singh
JL18FS-003
 Maruti Suzuki

About the company:- Maruti Suzuki is India’s top automobile

company. Formerly it was known as Maruti Udyog Limited. The business
is 56.21 percent is possess by Japanese cars and motorcycles
manufacturing company SUZUKI MOTOR CORPORATION. Mainly it
manufactures and sells passenger cars only but recently the company
has entered in Commercial Segment of vehicles also by launching its
MINI LOADER TRUCK (MARUTI SUZUKI CARRY). The company was
incorporated in February 1981 with production starting in the year 1983
with its first four wheeler Maruti 800. The company has its headquarters
situated in Delhi and the company manufactures various values for
money cars like Alto, Swift, WagonR, Ciaz, Baleno, Vitara Brezza,
Celerio, Omni, Dezire, Ignis and S-Cross, Ertiga.

In year 2015 Maruti Suzuki launched its new dealership named as NEXA.
Nexa was launched for providing the dealership of Maruti’s premium
segment cars. Cars that are sold through NEXA dealership are S-Cross,
Ignis, Baleno. Baleno-RS and Ciaz.
Product range in which the company deals in:-
Products

Passenger Cars Commercial Vehicle

Sub-Products

Hatch-Back Sedan Suv

Swift Dezire Vitara Berzza
Baleno Ciaz S-Cross
WagonR Gypsy
Alto 800 Ertiga
Alto K10
Celerio
Omni
Eeco
Ignis
Shareholding pattern of the company:-
S no. Name of Shareholder Number of Shares % of Total Shares

1. Foreign Institutions 7,14,73,063 23.66%

2. Foreign Promoters 16,97,88,440 56.21%
3. Financial Institutions 1,96,12,786 6.49%
4. N Bank Mutual Funds 1,87,27,355 6.2%
5. Others 1,15,85,519 3.84%
6. General Public 1,08,92,897 3.61%
TOTAL 100 %

Chart of shareholding pattern:-

Percentage
Financial
Institutions
6%
N Bank
Mutual Others
Foreign
Funds 4%
Promoters
56% Other 6%
7%
General Public
Foreign 4%
Institutions
24%
Profit / Loss account as on 31 March 2018 (Customized)
In crores

Particulars 31st March 31st March

2018 2017
Revenue from Operations 819944 772662
Less: Excise Duty (22317) (92314)
Net Sales 797627 680348
Add: Other Incomes 20455 23001
Total Income 818082 703349
COGS:
Cost-of-material-consumed 449413 426296
Purchase (stock in trade) 99930 44821
Less: Change in Inventories of Final product, work (407) (3801)
in progress(WIP)
& stock in trades
Total COGS 548936 467316
Expenses:
Employees Benefit Expenses 28338 23310
Finances Cost 3457 894
Depreciations & Amortizations 27579 26021
Other-Expenses 100729 87241
Vehicle for personal use (991) (1036)
Total Expenses 159112 136430
Total Of COGS and Expenses 708048 603746
Profit Before Taxes(PBT) 110034 96603
Tax:
Current Taxes 33495 23356
Deferred Taxes (679) 2745
Total Taxes 32816 26101
Profits After Tax(PAT) / Earning After Tax 77218 73502
Balance Sheet as on 31 March 2018 (Customized)
In Crores

Particulars 31st March 31st March

2018 2017
ASSETS.
Total Non Current Assets. 514487 424744
Current Assets:
Inventories. 31608 32622
Financial Assets.
Investments. 12173 21788
Trade Receivables. 14618 11992
Cash and Bank Balances. 711 135
Loans. 30 25
Other Financial Assets. 2846 950
Current Tax Assets. 4109 4854
Other Current Assets. 13119 15393
Total Current Assets . 79214 87762
Total Assets. 593701 512506

EQUITIES AND LIABILITIES

Equity-:
Equities Shares Capitals. 1510 1510
Other Equities. 416063 362801
Total Equity . 417573 364311

Liabilities:
Total Non-Current Liability. 21707 15931
Current Liabilities:
Financial Liabilities.
Borrowings. 1108 4836
Trade Payables.
Total Outstanding Dues. 711 832
Other Financial Liabilities. 104259 82841
Provisions. 5600 4490
Current Tax Liability. 8541 7987
Other Current Liabilities. 20864 18251
Total Current Liabilities. 154421 132264
Total Liabilities. 176128 148195
Total Equity and Liabilities. 593701 512506

Average Total Assets: 2018: 593701+512506/2= 553103.5

2017: 512506+29961.60/2= 271233.5

Average Debtors: 2018: 14618+11992/2= 13305

2017: 11992+1322.20/2=12653.1

Average Inventory: 2018: 31608+32622/2= 32115

2017: 32622+3132.10/2= 34188.05
Financial Ratios of the company:-

S. No. Name of the Formula Calculation Interpretation

Ratio
A. PROFITABILITY Evaluates the company’s ability to generate income
RATIOS against expenses. Higher, better it is.
1. Net Profits Margins EAT/ Net Sales 2018: Year on Year growth
77218/797627*100= is 10.37% negative.
9.68%
2017:
73502/680348*100=
10.80%
2. Returns On Equity EAT/Equity 2018:
77218/417573*100= Year on Year growth
is 8.32% negative.
18.49%
2017:
73502/364311*100=
20.17%
3. Returns On Assets EAT/ Average Total 2018: Year on Year growth
Assets 77218/553103.5*100= is 94.05% negative.
13.96%
2017:
73502/271233.5*100=
27.09%
B. EFFICIENCY Indicates the expenses as a percentage of revenue with a
RATIOS few variations. Higher, better it is.
4. Asset Turnover Net sales/Average 2018: Year on Year growth
Ratio Total Assets 797627/553103.5= is 73.61% negative.
1.44 times
2017:
680348/271233.5=
2.50 times

5. Debtor Turnover Net Sales/Average 2018: Year on Year growth

Ratio debtors 797627/13305= is 10.31% positive.
59.94 times
2017:
680348/12653.1=
53.76 times
6. Inventory Turnover Net Sales/Average 2018: Year on Year growth
Ratio Inventory 797627/32115= is 14.69% positive.
24.83 times
2017:
680348/34188.05=
21.18 times
C. LIQUIDITY
RATIOS The calculation of a company’s available cash and
marketable securities against outstanding debts. Higher,
better it is.
7. Current Ratios Current 2018: Year on Year growth
Assets/Current 79214/176128= .44 is 25.42% negative.
Liability 2017:
87762/148195= .59
8. Quick Ratio Current Assets- 2018: Year on Year growth
Inventory/ Current 79214- is 26.82% negative.
Liability 31608/154421=.30
 2017:
87762-
32622/132264= .41

D. VALUATION This ratio determines worth of a company. Higher, better it is.

RATIOS
9. Earnings Per Share EAT/No. Of Shares 2018: Year on Year growth
77218/30.2= is 4.81% positive.
255.68rs.
2017:
73502/30.2=
243.38rs
10. Book Value Per Book Value/ No. 2018: Year on Year growth
Share Of Shares 417573/30.2= is 12.75% positive.
1382.33 rs
2017:
364311/30.2=
1206.01 rs
Second Company:- Mahindra &
Mahindra
Analysis done by:- Mayank
Singh
JL18FS-
 Mahindra & Mahindra
About the company:- M&M is a leading vehicle manufacturing
company by production in the country and the largest manufacturer of
tractors in the world. This Company was founded as an steel trading
business in 1945 in Ludhiana as Mahindra and Mohammed by brothers
Kailash Chandra Mahindra, J.C. Mahindra and Malik Ghulam
Mohammed. Company changed its name in 1948 to Mahindra &
Mahindra. M&M is under the parent company of Mahindra Group.

Company deals in automotive sector and brands its products as

“Mahindra”. Its produces SUVs, pickups, two wheeled motorcycles,
saloon cars, commercial vehicles and tractors etc. as its business
segments. It manufactures over 20 model of cars which includes larger,
multi- utility vehicles such as Scorpio, Bolero and owns assembly plants
in India, Mainland china, and the United Kingdom.

M&M is a public company which traded as BSE: 500520, BSE SENSEX

Constituent whose shares traded freely on Bombay stock exchange.
Having its headquarters in Mumbai, Maharashtra, India. Although
company has its global presence and its products are exported in various
other countries as well.

At present Anand Mahindra is the chairman, managing director and

entrepreneurial business leader of its parent company Mahindra Group.
 Product range in which the company deals in:-
Product Range

SUVs Pick-UPs Two-wheelers Tractors

TUV 300+ Supro Maxitruck Mojo 275 Eco
XUV 500 Bolero Maxi truck+ Centuro 585 DI
Sarpanch
Scorpio Bolero pick-up Gusto 245 DI
KUV 100 NXT Big Bolero pick-up Centuro Rockstar 595 DI Turbo
TUV 300 Bolero Camper Gusto 125 Arjun 605 Di-
Gold 4WD
Thar Scorpio Gateway Mojo XT 300 Yuvo 275 DI
Shareholding Pattern of the company:-
S.no Shareholders Name No of Shares % of Total Shares
1. Promoter 25,32,58,774 20.37%
2. Foreign Institutions 39,89,86,432 32.09%
3. Financial institutions 13,45,43,538 10.82%
4. GDR 12,62,33,368 10.15%
5. N Banks Mutual Funds 11,48,83,395 9.24%
6. General Public 10,67,16,370 8.58%
7. Others 10,52,92,646 8.47%
8. Central Government 22,65,677 0.18%
9. Foreign Promoter 10,12,344 0.08%
Total 100%

Chart of shareholding pattern:-

Foreign
Central Percentage Promoter
Government
0% 0%

General Public
9% Others
9% Promoter
20%
N Banks Mutual
Funds
9%

GDR Foreign
10% Institutions
32%

Financial
institutions
11%
 Profit / Loss account as on 31 March 2018 (Customized)
( In crores )
Particulars 31 March 2018 31 March 2017
Revenue from operations. 93,264.77 88,983.03
Less: Excise Duty. (1,170.82) (5,209.98)
Net Sales. 92,093.95 83,773.05
Add: Other Income. 631.03 730.10
Total income. 92,724.98 84,503.15
COGS:
Cost of raw materials consumed. 48,439.86 45,805.38
Purchase of stock in trades. 5,017.43 4,849.82
Less: Change in inventory of. (83.33) (13.83)
Finished goods, work in progress.
and stock in trades.

Total COGS. 53,373.96 50,641.37

Expenses:
Employees Benefit Expenses. 10,004.62 8,910.63
Finance Cost. 3,987.09 3,648.46
Depreciation & Amortization. 3,279.90 2,812.72
Other-Expenses. 16,820.50 15,019.32
Less: Cost of (1,497.89) (1,533.10)
manufactured/purchased products
capitalized.

Total Expenses. 32,594.22 28,858.03

Total of COGS and Expense. 85,968.18 79499.40
Profit Before Tax(PBT) 10,325.52 6,350.26
Tax:
Current Taxes 2,563.61 2,059.33
Deferred Taxes (195.88) (240.40)
Total Tax 2,367.73 1,818.93
Profit After Tax / Earning 7,957.79 4,531.33
After Tax
 Balance Sheet as on 31 March 2018 (Customized)

Particulars 31 March 2018 31 March 2017

ASSETS.
Total Non-Current Assets. 78,134.89 65,954.39
Current Assets:
Inventories. 9,335.57 8,886.01
Financial Assets.
Investments. 5,350.07 4,700.67
Trade Receivables. 8,489.82 7,199.26
Cash and Cash Equivalents. 4,466.63 2,945.79
Bank Balances other than Cash. 2,080.97 1,708.24
and Cash Equivalents.
Loans. 24,725.46 20,698.48
Other Financial Assets. 1,255.78 1,095.94
Other Current Assets. 3,308.11 1,553.37
Assets held for sale. 63.61 ----
Total Current Assets. 59,076.02 48,787.76
Total Assets. 1,37,210.91 1,14,742.15

EQUITY AND LIABILITIES.

Equity:
Equity Share Capital. 543.13 270.89
Add: Other Equity. 36,232.06 29,467.10
Equity attributable to owners of 36,775.19 29,737.99
the company.
Add: on- controlling Interests. 8,250.47 6,356.90
Total Equity. 45,025.47 36,094.89

Liabilities:
Total Non - Current Liability. 43,035.71 38,814.79
Current Liabilities:
Financial Liabilities.
Borrowings. 11,325.54 10,121.65
Trade Payables. 18,287.34 14,796.87
Other Financial Liabilities. 14,208.43 11,775.94
Provisions. 1,395.26 1,215.91
Current Tax Liability. 404.11 342.34
Other Current Liabilities. 3,528.86 1,579.76
Total Current Liabilities. 49,149.54 39,832.47
Total Liabilities. 92,185.25 78,647.26
Total Equity and Liabilities. 1,37,210.91 1,14,742.15

Average Total Assets: 2018 : 137210.91 + 114742.15/2 = 125976.53

2017 : 114742.15 + 110903.41/2 = 112822.78

Average Debtors:2018 : 8489.82 + 7199.26/2 =7844.54

2017 : 7199.26 + 7495.96/2 = 7347.61

Average Inventory: 2018 : 9335.57 + 8886.01/2 = 9110.79

2017: 8886.01 + 8858.34/2 = 8872.18

 Financial Ratios of the company:-

S.No Name of the Formula Calculation Interpretation

Ratio
A. PROFITABILITY Evaluates the company’s ability to generate income against
RATIOS expenses. Higher, better it is.
1. Net Profit EAT/ Net Sales 2018: Year on Year
Margin 7957.79/92093.95*100= growth is 60%
8.64% positive.
2017:
4531.33/83773.05*100=
5.40%
2. Return On EAT/Equity 2018:
Equity 7957.79/45025.47*100= Year on Year
growth is 40%
17.67%
positive.
2017:
4531.33/36094.89*100=
12.55%
3. Return On EAT/ Average 2018: Year on Year
Assets Total Assets 7957.79/125976.53*100= growth is 57.5%
6.3% positive.
2017:
4531.33/112822.78*100=
4.0%
B. EFFICIENCY Indicates the expenses as a percentage of revenue with a
RATIOS few variations. Higher, better it is.
4. Asset Turnover Net 2018: Year on Year
Ratio sales/Average 92093.95/125976.53= growth is 0.01%
Total Assets 0.73 times negative.
2017:
83773.05/112822.78=
0.74 times

5. Debtor Turnover Net 2018: Year on Year

Ratio Sales/Average 92093.95/7844.54 growth is 0.03%
debtors = positive.
11.74 times
2017:
83773.05/7347.61
=
11.40 times
6. Inventory Net 2018: Year on Year
Turnover Ratio Sales/Average 92093.95/9110.79= growth is 5%
Inventory 10.11 times positive.
2017:
83773.05/48872.18=
1.71 times
C. LIQUIDITY
RATIOS The calculation of a company’s available cash and
marketable securities against outstanding debts. Higher,
better it is.
7. Current Ratios Current 2018: Year on Year
Assets/Current 59076.02/49149.54=1.20 growth is 2%
Liability 2017: negative.
48787.76/39832.47=1.22
8. Quick Ratio Current Assets- 2018: Year on Year
Inventory/ 59076.02- growth is 1%
Current Liability 9335.57/49149.54=1.01 positive.
2017:
48787.76-
8,886.01/39832.47=1.00

D. VALUATION This ratio determines worth of a company. Higher, better it

RATIOS is.
9. Earnings Per EAT/No. Of 2018: Year on Year
Share Shares 7957.79/10,94,141=72.7 growth is 4.3%
2017: positive
 4531.33/33,01,815=13.7

10. Book Value Per Book Value/ No. 2018: Year on Year
Share Of Shares 243.68/10,94,141=222.7 growth is 70.4%
2017: positive
431.27/33,01,815=130.6
 Third Company:- Hero
Motocorp
Analysis done by:- Divya
Prakash
JL18FS-
 Hero Motocorp
About the company:- Hero moto corp is the No 1 company oin its
segments of bikes and scooters. The reason behind its success is the
affordability that the company provides in its vast product range. Its
product range consist of bikes and scooters for the people of all age
groups. Their bikes are stylish as well as attractive in terms of design and
looks. It is extraordinary compared to others bike producers in the nation
and its bikes are made crosswise over 4 all around benchmarked offices
in (Gurugram) (Hridwar) (Dharduhera) and (Neemrana)

It has market share of about 46% in the biking industry. The 2006 forbes
list of the 200 World’s most respected companies has Hero in its list. On
31 March 2013, the market capitalization of the company was RS 30,800
crore.
Product range in which the company deals in:-
Products

Two Wheelers
(Xtreme-200R), (Karizma-ZMR), (Xtreme - Sports) , (Achiever - 150) ,
(New - Glamour), (Glamour - Programmed FI) , (Glamour) ,( Super -
Splendor), (New Super Splendors) , (Passion Pro - 110) , (Passion X -
Pro) , (PASSION - PRO) , (Splendor - iSmart+) , (Splendor PRO) ,
(Splendor plus) , (HF Deluxe ECO) , (HF Deluxe) , (HF Dawn) ,
(Duet) , (Maestro Edge) , (Pleasure)
Shareholding pattern of the company:-
S.no Shareholders Name No of Shares % of total shares
1. Indian Promoters 69,166,082 34.63%
2. Foreign Institutional 46,632 0.02%
Investors (FII)
3. Foreign Portfolio 83,680,910 41.90%
Investors/Foreign
Nationals
4. Indian Public 11,676,820 5.85%
5. Insurance companies 9,280,812 4.65%
6. Bodies Corporate 8,458,869 4.24%
7. Financial Institutions / 2,014,936 1.01%
Banks
8. Trusts 1,960,083 0.98%
9. Clearing Members 246,321 0.12%
10. Non Resident Indians 411,790 0.21%
11. Foreign Portfolio 83,680,910 41.90%
Investors/Foreign
Nationals
Total 199,711,455 100.00%
Chart of shareholding pattern:-

Indian Promoters
Foreign Institutional Investors (FII)
Foreign Portfolio Investors/Foreign Nationals
Indian Public
Insurance companies
Bodies Corporate
Financial Institutions / Banks
Trusts
Clearing Members
Non Resident Indians
Profit / Loss account as on 31 March 2018 (Customized)
In crores

Particulars 31 March 31 March

2018 2017
Revenue from Operations. 32,871.82 30,871.59
Add: Other Incomes. 525.82 522.43
Total Income. 33,397.64 31,394.02
COGS:
Cost of material consumed. 21,857.79 18,974.11
Excise duty on sale of goods. 641.33 2,371.13
Less: Change in Inventory of Finished goods, work (23.15) (63.17)
in progress.
And stock in trade.
Expenses:
Employees Benefit Expenses. 1,540.13 1,396.01
Finance Cost. 6.25 6.05
Depreciation & Amortization. 555.60 492.73
Other Expenses. 3,575.53 3,432.36
Total Of COGS and Expenses. 28,153.48 26,735.56
Profit Before Tax(PBT) 5,244.16 4,658.46
Tax:
Current Taxes 1,446.95 1,082.08
Deferred Taxes 99.85 199.26
Total Tax. 1,546.80 1,281.34
Profit After Tax(PBT) / Earning After Tax. 3,697.36 3,377.12
Balance Sheet as on 31 March 2018 (Customized)
In Crores

Particulars 31 March 31 March

2018 2017
ASSETS.
Total Non Current Assets. 7,890.62 7,241.08
Current Assets:
Inventories. 823.58 656.31
Financial Assets.
Investments. 5,591.12 4,540.85
Trade Receivables. 1,520.18 1,561.87
Cash and cash equivalents. 34.38 15.40
Bank balances other than (iii) above. 106.96 121.33
Loans. 27.56 24.18
Other Current Assets. 205.03 388.29
Total Current Assets . 8,848.18 7,453.18
Total Assets. 16,738.80 14,694.26

EQUITY AND LIABILITIES

Equity:
Equity Share Capital. 39.94 39.94
Other Equity. 11,728.94 10,071.35
Total Equity . 11,768.88 10,111.29

Liabilities:
Total Non Current Liability. 626.60 489.64
Current Liabilities:
Financial Liabilities.
Trade payables. 3,318.81 3,247.27
Other Financial Liabilities. 202.14 352.77
Provisions. 59.79 39.01
Other Current Liabilities. 762.58 454.28
Total Current Liabilities. 4,343.32 4,093.33
Total Equity and Liabilities. 16,738.80 14,694.26
 Average Total Assets:16738.80+14694.26/2=
15716.53(2018)
14694.26+12340.69/2=13517.47(2017)

Average Debtors:1520.18+1561.87/2= 1541.02(2018)

1561.87+1282.80/2=1422.33(2017)

Average Inventory:823.58+656.31/2= 739.94(2018)

656.31+73.61/2=362.46(2017)

Financial Ratios of the company:-

S. Name of the Formula Calculation Interpretation
No. Ratio
A. PROFITABILIT Evaluates the company’s ability to generate income against expenses.
Y RATIOS Higher, better it is.
1. Net Profit (EAT/ Net 2018: Year on Year
Margin Sales)*100 (2697.36/32871.82)*100= growth is 13.66
8.20% negative.
2017:
(3377.12/30871.59)*100=
10.93%
2. Return On EAT/Equity 2018:
Equity (2697.36/11768.88)*100= Year on Year
growth is 0.33
0.22%
negative
2017:
(3377.12/10111.29)*100=
0.33%
3. Return On {(EAT+Interest)/Tot 2018: Year on Year
Assets al Assets}*100 {(2697.36+6.25)/16738.80}*1 growth is 0.20
00= negative.
16.15%
2017:
{(3377.12+6.05)/16738.80}*1
00=
20.21%
B. EFFICIENCY Indicates the expenses as a percentage of revenue with a few
RATIOS variations. Higher, better it is.
4. Asset Net sales/Average 2018: Year on Year
Turnover Total Assets 32871.82/15716.53= growth is 0.06
Ratio 2.09 times positive.
2017:
30871.59/ 15716.53=
1.96 times

5. Debtor Net Sales/Average 2018: Year on Year

Turnover debtors 32871.82/1541.02= growth is 0.06
Ratio 21.33 times positive.
2017:
30871.59/1541.02=
20.03 times
6. Inventory Net Sales/Average 2018: Year on Year
Turnover Inventory 32871.82/739.44= growth is 0.00
Ratio 44.42 times positive.
2017:
 30871.59/656.31=
44.03 times
C. LIQUIDITY
RATIOS The calculation of a company’s available cash and marketable
securities against outstanding debts. Higher, better it is.
7. Current Current 2018: Year on Year
Ratios Assets/Current 8848.18/4343.32= 2.03 growth is 011
Liability 2017: positive.
7453.18/4093.33= 1.82
8. Quick Ratio (Current Assets- 2018: Year on Year
Inventory)/ (8848.18- growth is 0.10
Current Liability 823.58)/4343.32=1.84 positive.
2017:
(7453.18-656.31)/4093.33=
1.66

D. VALUATION This ratio determines worth of a company. Higher, better it is.

RATIOS
9. Earnings Per EAT/No. Of Shares 2018: Year on Year
Share 2697.36/199711455=1.35 growth is 0.20
2017: negative.
3377.12/199696838=1.69
10. Book Value Book Value/ No. Of 2018: Year on Year
Per Share Shares 11768.88/199711455=5.89 growth is 0.0.16
2017: positive.
10111.29/199696838=5.06
Fourth Company:-Eicher
Motors
Analysis done by:- Akshay
Yadav
JL18FS-
 Eicher Motors
About the company:- EICHER MOTORS LIMITED (EML) is a leading
Indian automobile company which also owns an iconic brand ROYAL
ENFIELD, a middleweight motorcycle. The company also owns two main
business brands MID SIZE MOTORCYCLES & COMMERCIAL
VEHICLES with a slogan of “KEEP RIDING PURE”. It has a market share of
91% in India’s mid-size motorcycles segment & 32.2% in
merchandising vehicles as total market share in domestic lights to
medium size vehicles. Its operates in over 40 countries incorporated on
1948 and Company is also Listed on the Bombay Stock Exchange(BSE)
and National Stock Exchange(NSE) as EICHER MOTOR .Its headquarters
is situated in NEW DELHI.
Product range in which the company deals in:-
Products

Two Wheelers are sold under the

company name Royal Enfield
Bullet
Classic (350,500)
Thuderbird (350,500)
Thunderbird X (350,500)
Himalayan
Commercial Trucks
Volvo Trucks
Light Medium Duty Trucks
Heavy Duty Trucks
Buses
Shareholding pattern of the company:-
S.no Shareholders No of Shares % of total shares
Name
1. Promoter Group 13761327 50.49%
2. Foreign 8441044 30.97%
Institutional
Investors
3. Domestic 1608077 5.90%
Institutional
Investors
4. Others 3445101 12.64%
Total 2,72,55,549 100%

Chart of shareholding pattern:-

 Percentage

Foreign
Institutional Domestic
Investors institutional
31% investors
6%

Other
19%
Promoter Group Others
50% 13%

Profit / Loss account as on 31 March 2018 (Customized)

Particulars 31 March 31 March

2018 2017
Revenue from Operations. 9,211.81 7,944.06
Sale of products. 9,167.73 7,913.71
Add: Other Incomes. 332.43 227.31
Other operating incomes. 44.08 30.35
Total Income. 9,544.24 8,171.37
COGS:
Cost of material consumed. 4,515.60 3,615.45
Excise duty on sale of goods. 254.30 906.09
Purchases of traded goods. 154.97 105.62
Less: Change in Inventory of its Finished goods, (31.47) (14.50)
work in progress.
And stock in trades.
Expenses:
Employees Benefit Expenses. 547.86 408.97
Finances Cost. 3.04 2.79
Depreciation & Amortization. 222.34 153.34
Other Expenses. 917.35 716.62
Total Of COGS and Expenses. 6,583.99 5,894.38
Profits before exceptional items and tax. 2,960.25 2,276.99
Exceptional item. 311.98 -
Profit before tax. 2,648.27 2,276.99
Tax:
Current Tax. 877.34 678.53
Deferred Tax. 58.02 38.44
Total Tax. 935.36 716.97
Profit After Tax / Earning After Tax. 1,712.91 1,560.02

Balance Sheet as on 31 March 2018 (Customized)

Particulars 31 March 2018 31 March 2017
ASSETS.
Total Non Current Assets. 5,270.25 4,179.90
Current Assets:
Inventories. 379.23 322.45
Financial Assets.
Investments. 633.40 883.61
Trade Receivables. 78.02 48.94
Cash and cash equivalents. 89.28 12.79
Bank balances other than (iii) above. 1,119.54 7.82
Loans. 0.28 0.34
Other financial assets. 33.71 8.70
Other Current Assets. 190.96 75.71
Total Current Assets. 2,524.42 1,360.36
Total Assets. 7,794.67 5,540.26

EQUITY AND LIABILITIES.

Equity:
Equity Share Capital. 27.26 27.21
Other Equity. 5,344.97 3,895.38
Total Equity . 5,372.23 3,922.59

Liabilities:
Total Non Current Liability. 227.81 135.71
Current Liabilities:
Financial Liabilities.
Borrowing. 85.98 67.44
Trade payables. 1,170.47 764.49
Other Financial Liabilities. 166.70 140.25
Provisions. 47.21 42.51
Current tax liabilities. 108.01 37.74
Other Current Liabilities. 616.26 429.53
Total Current Liabilities. 2,194.63 1,481.96
Total Equity and Liabilities. 7,794.67 5,540.26

AVERAGE ASSETS = 7794.67+5540.26/2 = 6667.465 (2018)

AVERAGE ASSETS = 5521.84+3623.91/2 = 4572.875 (2017)

AVERAGE DEBTORS = 78.02+48.94/2 =63.48 (2018)

AVERAGE DEBTORS = 48.94+46.13/2 =47.535 (2017)

AVERAGE INVENTORY = 379.23+322.45 =350.84 (2018)

AVERAGE INVENTORY = 322.45+300.36 =311.405 (2017)

Financial Ratios of the company:-

S.NO. Name of the Formula Calculations Interpretation
Ratio
A. PROFITABILITY
RATIOS
1. Net Profit Margin EAT/Net 2018: Year on Year
Sales (1712.91/8957.51)*100 growth is 13.73 %
negative.
= 19.12
2017:
(1560.02/7037.97)
*100
=22.165%

2. Return on Equity EAT/ Equity 2018: Year on Year

(1712.91/5372.23) growth is 19.83%
negative
*100
=31.88%
2017:
(1560.2/3922.59) *100
=39.77%
3. Return on Assets EAT/ 2018: Year on Year
Average (1712.91/6667.465) growth is 24.68%
negative
total assets *100
=25.69%
2017:
(1560.2/4572.87) *100
=34.11%
B. EFFICIENCY
RATIOS
4. Asset Turnover Net sales/ 2018: Year on Year
Ratio Average (8957.51/6667.465) growth is 12.41 %
negative
total assets =1.34 times
2017:
(7037.97/4572.875)
=1.53 times
5. Debtor Turnover Net Sales/ 2018: Year on Year
Ratio Debtor total (8957.51/63.48) growth is 4.68%
negative
Debtors =141.11 times
2017:
(7037.97/47.535)
=148.05 times
6. Inventory Net sales/ 2018: Year on Year
Turnover Ratio average (8957.51/350.84) growth is 12.96 %
positive
inventory = 25.53 times
2017:
(7037.97/311.405)
=22.6 times
C. Liquidity Ratios
7. Current Ratios Current 2018: Year on Year
assets/ (2524.42/2194.63) growth is 25%
positive
Current = 1.15
Liabilities 2017:
(1360.36/1481.96)
=0.92
8. Quick ratio Quick 2018: Year on Year
assets/ (2524.42- growth is 39.57%
positive
current 379.23)/2194.63
liabilities = 0.977
2017:
(1360.36-
322.45)/1481.96
= 0.7

D. Valuation Ratios
9. Earnings per share EAT/ no. of 2018: Year on Year
shares 1712.91/2.72 growth is 9.8%
positive
= 629.74
2017:
1560.02/2.72
= 573.53
10. Book value per Book 2018: Year on Year
share value/no. of 5372.23/2.72 growth is 26.98%
positive
shares = 1975.08
2017:
3922.59/2.72
= 1442.12
 Fifth Company:- Bajaj
Analysis done by:- Sridhar
Vistalamuri
JL18FS-
 Bajaj
About the company:- Baja auto limited is the one of the leading two-
wheeler and three wheeler producer in India. It produces and sells
motorcycles, scooters and auto rikshaws. It was founded by “JAMNALAL
BAJAJ” in 1940 in Rajasthan. At present it is dealing with two-wheeler
and three-wheeler vehicle segments and also currently working on its
4wheeler vehicle segment. Bajaj Auto, is ranked as the world's fourth
largest three and two wheeler manufacturer. Bajaj auto ltd was widely
spreaded all over the globe. And it exports its vehicles to 78 countries. It
has the large fleet of various models in two wheeler and three wheeler
segment. In two wheeler segment it has world class models like
Dominar, Pulsar, Avenger, Discover, Boxer etc. In Three wheeler
segment it has Maxima, RE and a brand new Four wheeler QUTE
(expected to enter into the market soon). Subsidiaries are PT. Bajaj Auto
Indonesia & Bajaj Auto International Holdings BV, Netherlands (BAIH
BV).
Product range in which the company deals in:-
Products

Two-Wheelers Three-Wheeler
Discover (100M,125ST,150) RE-CNG Two Stroke
Platina RE-CNG Four Stroke
Bajaj V
Pulsar
(135LS,150,160NS,180,200NS,200R
S, 220)
Dominar
Avenger Street (180)
Avenger Cruse (220)
Shareholding pattern of the company:-
S.no Shareholders Name No of shares % of total shares
1. PROMOTORS 14,26,57,982 49.30

2. FRIENDS AND 3,01,80,364 10.43

ASSOCIATES OF
PROMOTORS

3. FIIs/FPIs 4,97,69,919 17.20

4. PUBLIC FINANCIAL 1,79,60,296 6.21

INSTITUTIONS

5. MUTUAL FUNDS 62,82,828 2.17

6. NATIONALISED AND 2,66,577 0.09

OTHER BANKS

7. NRIs AND OCBs 10,93,692 0.38

8. OTHERS 4,11,55,362 14.22

 Total 28,93,67,020 100

Chart of shareholder pattern:-

Percentage
PROMOTORS

1%
14% FRIENDS AND ASSOCIATES
0% OF PROMOTORS
2%
FIIs/FPIs

6%
PUBLIC FINANCIAL
49% INSTITUTIONS
MUTUAL FUNDS
17%
NATIONALISED AND OTHER
BANKS
NRIs AND OCBs
11%

OTHERS
Profit / Loss account as on 31 March 2018 (Customized)
In crores

Income 2018 2017

Revenue from Operations . 25,563.26 23,088.03

Less: - Excise duty on Sales. 398.34 1321.35

Net Sales . 25164.92 21766.68

Add: - Other Income . 1301.26 1208.97

Stock adjustments. (9.68) 43.68

Total Income. 26456.50 23019.29

COGS. 17787.30 15027.31

Power and fuel. 100.26 96.46

Selling and administration expenses. 437.39 395.32

Employee Benefits expense. 1069.09 997.07

Depreciation and amortisation expense. 314.80 307.29

Finance cost. 1.31 1.40

Other expenses. 1926.38 1745.38

 Total Expenses. 21636.53 17696.7

Profit before Exceptional Item. 5814.57 5335.63

Exceptional income. 32.00 -

Profit/loss before Tax. 5782.57 5335.63
Tax Expenses.
Current Tax. 1646.36 1455.92

Deferred Tax. 68.11 50.41

Adjustment of tax relating to earlier years. - 1.74
Profit/loss for the year. 4068.10 3827.56
Balance Sheet as on 31 March 2018 (Customized)
In crores

Particulars 31/3/2018 31/3/2017

ASSETS.

Non-Current Assets. 14,583.86 11,423.52

Financial assets. 4941.1 5351.91

Loans and advances. 1283.94 2064.11

TRADE RECEIVABLES. 1490.87 953.29

Inventory. 742.58 728.38

Cash/bank. 778 293.68

TOTAL ASSETS. 23819.49 20814.89

Equity and Liabilities.

Equity share capital. 289.37 289.37

Other Equity. 18814.49 16744.76

Total Equity. 19103.86 17034.13

Non-current Liabilities.
Net deferred tax liabilities. 323.42 313.62

Other long term liabilities. 168.73 176.43

Long term provisions. 112.19 78.13

Current liabilities.

Trade payables. 3244.32 2235.73

Provisions. 125.60 120.93

Other current liabilities. 741.37 855.92

Total Equity and liabilities 23819.49 20814.89

2018 2017

AVERAGE DEBTORS 1491.87+953.29/2 1222.58 953.29+717.93/2 835.61

AVERAGE 23819.49+20814.89/2 22317.19 20814.89+16486.50/2 18650.695

TOTAL ASSETS

AVERAGE INVENTORY 742.58+728.38/2 735.48 728.38+719.07/2 723.72

 Financial ratios of the company:-

S.No Name of the Ratio Formula Calculation Interpretation

A Profitability Ratio: Higher the better it is

1 Net Profit Margin Net Profit/Sales 2018 Higher the
4068.10/25164.66*100 better it is.
=16.16% Bajaj’s year-on-
2017 year growth is
8.66%
3827.56/21766.68*100
Negative.
=17.58%
Net Profit Margin
2018
(before
4100.10/25164.66*100
Exceptional
=16.26%
Items)
2017
3827.56/21766.68*100
=17.58%
2 Return on Equity EAT/Equity 2018 Higher the
4068.10/19103.86*100 better it is.
=21.29% BAJAJ’s year-
2017 on-year growth
3827.56/17034.13*100 of this ratio is
=23.72% 10.24%
Return on Equity 2018 Negative.
(before 4100.10/19103.86*
Exceptional
100 = 30.53%
Items)
2017
3827.56/17034.13*
100 = 23.72%

3 Return on asset EAT + Interest/ 2018 Higher the

Average Total 4068.10+1.31/22317.19 better it is.
Asset =18.23% ’s year-on-year
2017 growth of this
ratio is
3827.56+1.40/18650.69*
11.20%positive.
100 = 20.52%
Return on asset 2018
(before 4100.10+1/22317.19
Exceptional =26.14%
Items) 2017
3827.56+1/18650.69*
100 = 20.52%
B Efficiency Ratios: The efficiency ratio is typically used to analyse how well a
company uses its assets and liabilities internally.

1 Asset Turnover Net Sales 2018 Higher the

Ratio /Average Total 25164.66/22317.19 better it is.
assets =1.12 BAJAJ’s year-
2017 on-year growth
of this ratio is
21766.68/18650.69*100
3.44% positive.
=1.16
2 Inventory Turnover Sales/average 2018 Higher the
Ratio inventory 25164.66/735.48 better it is.
= 34.12 BAJAJ’S year-
2017 on-year growth
of this ratio is
21776.68/ 723.72
13.39%
= 30.08
positive.
3 Receivable/debtors Sales/Average 2018 Higher the
Turnover Ratio debtors 25456.66/1222.58 better it is.
=20.82 BAJAJ’S year-
2017 on-year growth
of this ratio is
21776.68/835.61=
20.09%
26.08
negitive.
C Liquidity Ratios: Liquidity ratio tells how quickly a company can convert its current
assets into cash so that it can pay off its liability on a timely basis.

1 Current ratio Current 2018 Higher the

assets/current 4296.84/4715.63 better it is.
liabilities =0.91 BAJAJ’s year-
2017 on-year growth
4039/3780 of this ratio is
=1.07 14.95% positive
2 Quick ratio Current assets- 2018 Higher the
inventory/current 4296.39 better it is.
liabilities -742.58)/4477.84=0.75 BAJAJ’s year-
2017 on-year growth
3311.08/3780.76 of this ratio is
=0.88 14.77%
negative
D Valuation: with respect to the value or benefits of owning that investment.

1 Earnings Per Share EAT/no. of Shares 2018 Higher the

4068.10/28.9 better it is.
=140.59 BAJAJ’s year-
2017 on-year growth
3827/28.9 of this ratio is
132.27 6.29% positive
2 Book value Ratio Book 2018
value/number of 660.19/28.93=22.82
shares
2017
588.67/28.93= 20.34
3 Interest Coverage EBIT/Interest 2018 Higher the
Ratio Expenses 5769.89/1.31 better it is.
=4404.4 BAJAJ’s year-
2017 on-year growth
5324/1.40 of this ratio is
=3802.85 15.83%
Positive.
Sixth Company:- Tata Motors
Analysis done by:- Kamya
Jaiswal
JL18FS-026
 Tata Motors
About the company:- Tata Motors which has a $45 Billion
administration ,is a contribution to the $100 Billion Tata group. Globally
it is one of a foremost manufacturing organisation in automobile sector.
Each Tata Motors brand have a universal voice while being distinctive in
its own aspect.. In Financial Year 2018, ‘Connecting Aspirations’ was the
assurance chosen by Tata Motors’ as a brand .This projects Tata Motors
as an intellectual, discerning , pioneering group, giving mobility related
answers that are premeditated to meet the believe of users worldwide.

Its assorted collection includes a widespread series of cars, sports cars,

heavy vehicles and defence vehicles. It is one of the largest and the only
Original Equipment Manufacturer (OEM) in India that offers an broad
range of incorporated ,elegant and e-mobility solutions.

Tata Motors have a universal system of 97 subsidiaries and 9 connected

organisations ,4 joint ventures and 2 joint operations, ,that includes
Jaguar and Land Rover and Tata Daewoo . Apart from this they have
operations in South Korea , South Africa , UK , Thailandetc.

Products in which the company deals in:-

 Passenger Vehicles

Hatch Back Sedans SUVs

GenX Nano Tigor Nexon
Tiago Zest Safari Strome
Bolt Indigo eCS Hexa
Indica VS Sumo Gold
Commercial Vehicles

Small Commercial Passenger Transportation Heavy Commercial

Vehicles Vehicles
Ace Range Coaches Cargo Range
XL Range Urban Buses Construct Range
Yodha Range Vans
Contract Carriages

Luxury Segment
 Jaguar Range Rover
XE Range Rover
XF RR Sport
XE Sport Brake Velar
F-Type Evoque
E-Pace Discovery
F-Pace Discovery Sport
I-Pace
XI
Shareholding pattern of the company:-
S.no Shareholders Name No of shares % of total shares
1. Promoters 1020153060 36.37
2. Foreign Institutions 527570866 18.27
3. Others 524360681 18.16
4. Financial 283741791 9.83
Institutions
5. Banks and Mutual 251122366 8.7
Funds
6. General Public 245456101 8.5
7. Central Government 4943829 .17

Chart of shareholding pattern:-

Central
Government
0%
General
Public
9%
Banks and
Mutual Funds
9%
Promotors
Financial 36%
Institutions
10%

Others
18%
Foreign
Institutions
18%
Profit / Loss account as on 31 March 2018 (Customized)
Notes Year ended March Year ended
31 2018 march 31’17
I. Revenue from operations 32 59,624.69 49,054.49
II. Other Income 33 1,557.60 981.06
III. Total Income (I+II) 61,182.29 50,035.55
IV. Expenses
(a) Cost of materials consumed 37,080.45 27,651.65
(b) Purchases of products for sale 4,762.41 3,945.97
( c) Changes in inventories of finished
goods, work-in-progress and products for sale 842.05 (252.14)
(d) Excise duty 32(2) 793.28 4,738.15
(e) Employee benefits expense 34 3,966.73 3,764.35
(f) Finance costs 35 1,744.43 1,569.01
(g) Foreign exchange (gain)/loss (net) 17.14 (252.78)
(h) Depreciation and amortisation expense 3,101.89 3,037.12
(i) Product development/Engineering expenses 474.98 454.48
(j) Other expenses 36 9,234.27 8,335.90
(k) Amount capitalised (855.08) (941.60)
Total Expenses (IV) 61,162.55 52,050.11
V. Profit/(loss) before exceptional items and tax (III-IV) 19.74 (2,014.56)
VI. Exceptional items
(a) Provision for impairment of investment in a subsidiary - 123.17
(b) Employee separation cost 3.68 67.61
( c) Provision for impairment of capital work-in-progress
and intangibles under development 37(a) 962.98 -
(d) Others 37(b) - 147.93
VII. Profit/(loss) before tax (V-VI) (946.92) (2,353.27)
VIII. Tax expense/(credit) (net)
(a) Current tax 92.63 57.06
(b) Deferred tax (4.70) 19.27
Total tax expense/(credit) 87.93 76.33
IX. Profit/(loss) for the year from continuing operations (VII-VIII) (1,034.85) (2,429.60)
X. Other comprehensive income/(loss):
(A) (i) Items that will not be reclassified to profit and loss:
(a) Remeasurement gains and (losses) on defined
benefit obligations (net) 18.24 8.24
(b) Equity instruments at fair value through other
comprehensive income 44.04 73.84
(ii) Income tax (expense)/credit relating to items that
will not be reclassified to profit or loss (6.27) (3.12)

(B) (i) Items that will be reclassified to profit

or loss - gains and (losses) in cash flow hedges (19.56) 23.32
 (ii) Income tax (expense)/credit relating to items
that will be reclassified to profit or loss 6.77 (8.07)
Total other comprehensive income/(loss), net of taxes 43.22 94.21
XI. Total comprehensive income/(loss) for the year (IX+X) (991.63) (2,335.39)
XII. Earnings per equity share (EPS) 39
(A) Ordinary shares (face value of ` 2 each) :
(i) Basic ` (3.05) (7.15)
(ii) Diluted ` (3.05) (7.15)
(B) ‘A’ Ordinary shares (face value of ` 2 each) :
(i) Basic ` (3.05) (7.15)
(ii) Diluted ` (3.05) (7.15)
 Balance Sheet as on 31 March 2018 (Customized)
Notes As at March 31, ‘18 As at March 31,’17
1.ASSETS
(1) NON-CURRENT ASSETS.
a)Property, plant and equipment. 3 18,192.52 17,897.12
b) Capital (work-in-progress). 1,371.45 1,902.61
c) Goodwill. 99.09 99.09
d) Other Intangible Assets. 5 (a) 3,312.14 2,776.71
e) Intangible Assets under development . 5 (b) 3,825.15 5,368.38
f) investments in subsidiaries, joint ventures 6 13,950.60 14,330.02
and associates.
g) Financial Assets.
i. Investments. 8 310.19 528.37
ii. Loans and Advancements. 10 143.96 391.46
iii. Other financial Assets. 12 793.40 196.32
h) Non current tax Assets(net). 695.75 772.67
i)Other non-current Assets. 14 1,546.39 1,858.45
44,240.64 46,121.20
(2)CURRENT ASSETS.
(a) Inventories. 16 5,670.13 5,553.01
(b) Investments in subsidiaries and associate 7 681.91 -
(held-for-sale).
(c) Financial assets.
i) Investments . 9 1,820.87 2,437.42
ii) Trade receivables. 17 3,479.81 2,128.00
iii) Cash and cash equivalents. 19 546.82 228.94
iv) Bank balances other than (iii) above. 20 248.60 97.67
v) Loans and advances. 11 140.27 215.96
vi) Other financial assets. 13 646.31 141.54
(d) Current tax assets (net). 73.88 129.49
(e) Assets classified as held-for-sale. 47(iv) 223.33 -
(f) Other current assets. 15 1,439.73 1,825.05
14,971.66 12,757.08
TOTAL ASSETS 59,212.30 58,878.28
II. EQUITY AND LIABILITIES.
EQUITY.
(a) Equity share capital. 21 679.22 679.22
(b) Other equity 19,491.76 20,483.39.
20,170.98 21,162.61
LIABILITIES.
(1) NON-CURRENT LIABILITIES.
(a) Financial liabilities.
(i) Borrowings. 23 13,155.91 13,686.09
(ii) Other financial liabilities. 25 211.28 1,130.23
(b) Provisions. 27 1,009.48 892.18
(c) Deferred tax liabilities (net). 154.61 147.58
(d) Other non-current liabilities. 30 291.09 321.24
14,822.37 16,177.32
(2) CURRENT LIABILITIES.
(a) Financial liabilities.
(i) Borrowings. 24 3,099.87 5,158.52
 (ii) Trade payables [includes dues of micro 9,411.05 7,082.95
and small enterprises ` 141.59 crores
(as at March 31, 2017 ` 125.11 crores)]
(iii) Acceptances. 4,814.58 4,379.29
(iv) Other financial liabilities. 26 4,091.16 2,485.94
(b) Provisions. 28 862.92 477.17
( c) Current tax liabilities (net). 21.77 83.68
(d) Other current liabilities. 31 1,917.60 1,870.80
24,218.95 21,538.35
TOTAL EQUITY AND LIABILITIES. 59,212.30 58,878.28
Financial ratios of the company:-
S.No. Name of the Formula Calculation Interpretation
Ratio
A. PROFITABILITY Evaluates the company’s ability to generate income against
RATIOS expenses. Higher, better it is.
1. Net Profit (EAT/ Net 2018: Year on Year
Margin Sales)*100 (-1034.85/59624.69) growth is
*100 =-1.74%
68.25%
2017:
(-2429.60/43340.62)
*100=-5.48

2. Return On EAT/Equity 2018:

Equity (-1034.85/20175.98) Year on Year
*100=-5.13% growth is
2017: 55.31%
(-2429.60/21162.61)
*100=-11.48%

3. Return On {(EAT)/Total 2018: Year on Year

Assets Assets}*100 (-1034.85/59212.3) growth is
*100=-1.74% 57.77%
2017:
(-2429.60/58878.28)
*100=-4.12%
B. EFFICIENCY Indicates the expenses as a percentage of revenue with a
RATIOS few variations. Higher, better it is.
4. Asset Turnover Net 2018: Year on Year
Ratio sales/Average (58,831.41/59,212.30)*100 growth is 32%
Total Assets =
99.35%
2017
(44316.34/58878.28)
*100=75.26%

5. Debtor Net 2018: Year on Year

Turnover Ratio Sales/Average (58,831.41/2,803.91)= decline is
debtors 20.98 1.22%
2017:
(44316.34/2086.79)=
21.24
6. Inventory Net 2018: Year on Year
Turnover Ratio Sales/Average (58,831.41/6,352.04)= growth is
Inventory 9.26 16.04%
2017:
(44316.34/5553.01)=
7.98
C. LIQUIDITY
RATIOS
 The calculation of a company’s available cash and
marketable securities against outstanding debts. Higher,
better it is.
7. Current Ratios Current 2018: Year on Year
Assets/Current 14971.66/24218.95= growth is
Liability .62 5.08%
2017:
12757.08/21568.35=
.59
8. Quick Ratio Quick Assets/ 2018: Year on Year
Current 8619.62/24,218.95= growth is
Liability .36 9.09%
2017:
7204.07/21568.35=
.33

D. VALUATION This ratio determines worth of a company. Higher, better it

RATIOS is.
9. Earnings Per EAT/No. Of 2018: Year on Year
Share Shares -1,034.85/339.58= growth is
-3.05 57.34%
2017:
-2429.60/339.58=
-7.15
10. Book Value Per Book Value/ 2018: Year on Year
Share No. Of Shares 20,170.98/339.58= decline is 4.7%
 59.39
2017:
21162.61/339.58=
62.32