M16 FA Deepal Solanki

Ashok Leyland Financial Statement Analysis
------------------- in Rs. Cr. ----------Mar '13

1. Sales Growth Rate
Net Sales
(F/I)*100
12,481.20
93.78
2. Operating Profit Margin

Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Miscellaneous Expenses
Total Operating Expenses
Operating Profit
OP(%)=OP/Net Sales*100
8,925.14
86
1,075.51
0
1,246.10
11,332.75
1,148.45
9.20
3. Net Profit Margin

Total Income
Total Expenses
EBITDAT
Depreciation
EBIT
Interest
EBT-1
Extra-ordinary items
EBT-2
Tax
PAT
Equity Dividend
Retained Earnings
NPM=Net Profit/Net Sales*100
4. Returns Ratio
PAT/SANE EBIT/ICE
ROA
ROA=PAT/Asssets
12,561.13
11,332.75
1,228.38
380.78
847.60
376.89
470.71
0
470.71
37
433.71
159.64
274.07
3.47
Total Current Assets

Net Block
Fixed Deposits
Total Assets
Average Assets
Return on Assets(%)
4,788.26
5,281.88
0
10,070.14
9,946.36
4%
RONW=PAT/(Equity+Reserves)
Equity Share Capital
Reserves
Networth
Avg Net Worth
RONW=PAT/(Equity+Reserves)
266.07
4,189.04
4,455.11
3,676.76
12%
Return on Capital employed

Networth
Secured Loans
Unsecured Loans
Total Liabilities
Average Liabilities
ROCE=EBT/Avg CL
266.07
1,903.46
1,601.36
3770.89
3216.245
15%
5. CID
Creditors Day(Ra/Cr)
Raw Materials
Current Liabilities
Avg CL
Creditor Factor(FCR)=Ra/Cr)
8,925.14
4,749.58
4,793.50
Creditors Day(365/FCr)
196.03
Inventory Days(Co/In)
Total Operating Expenses
Inventories
Average Inventories
Inventory Factor(Fci )
4,991.39
1,896.02
2,063.33
Inventory Days 365/Fci
150.88
1.86
2.42
Creditors Day
Net Sales
Sundry Debtors
Avg Debtors
Debtors Factor
Debtors Days(365/F)
12,481.20
1,419.41
1,324.89
9.42
38.75
Cash Conversion Cycle
6.41
6. Leverage Ratios
Debt:Equity(Total Debt/Equity+Reserves)
Secured Loans
Unsecured Loans
Total Debt
Average Debt
Reserves
Equity
Average Equity
Debt:Equity(Total Debt/Equity+Reserves)
Maximum Debt(5*Operating Profit)
1,903.46
1,601.36
3,504.82
2,950.18
266.07
4,189.04
4,455.11
3,676.76
0.80
5742.25
Current Ratio=Current Assets/Current Liabilities

Current Assets
Cash
Debtors
Inventories
Loans Advances
Average Total Current Assets
Current Liabilities
Average Current Liabilities
Current Ratio=Current Assets/Current Liabilities
13.94
1,419.41
1,896.02
4,788.26
8117.63
8203.615
4,749.58
4,793.50
1.71
Quick Ratio
Cash
Average Cash
Current Liabilities
Average Current Liabilities
Quick Ratio=Cash/Current Liabilities
13.94
23.25
4,749.58
4,793.50
0.00
7. Turnover Ratios
Asset Turnover Ratio=Net Sales/Avg Total Assets
Assets
Average Assets
Asset Turnover Ratio=Net Sales/Avg Total Assets

Equity Turnover=Net Sales/Avg Net Worth
3,329.37
3,411.47
3.66
Net Worth
Average Net Worth
Equity Turnover=Net Sales/Avg Net Worth
4,455.11
4,333.44
2.88
--------- in Rs. Cr. ------------------Mar '12

Mar '11
Mar '10
Mar '09
13,309.59
11,407.15
7,436.18
6,168.99
116.68
153.40
120.54
9,702.20
76.75
1,039.07
99.67
334.4
11,252.09
8,406.17
65.19
974.6
86.04
0.19
9,532.19
5,534.24
44.47
671.61
45.51
0.16
6,295.99
4,554.36
38.42
566.26
50.3
0.13
5,209.47
2,057.50
1,874.96
1,140.19
959.52
15.46
16.44
15.33
15.55
13,526.30
12,228.27
11,623.29
10,365.13
7,777.37
6,926.63
6,241.11
5,696.95
1,298.03
1,258.16
850.74
544.16
352.81
267.43
204.11
178.41
945.22
990.73
646.63
365.75
255.25
188.92
101.85
157.3
689.97
801.81
544.78
208.45
689.97
124
565.97
266.07
801.81
170.5
631.31
266.07
544.78
121.1
423.68
199.55
0.26
208.19
18.45
189.74
133.03
299.90
365.24
224.13
56.71
4.25
5.53
5.70
3.08
4,796.04
5,026.53
0
9,822.57
9,408.59
4,360.81
4,633.79
0
8,994.60
8,840.86
4,107.54
4,249.56
330.01
8,687.11
7,641.53
6%
7%
6%
266.07
2,632.34
2,898.41
2,777.55
133.03
2,523.65
2,656.68
2,489.91
133.03
2,190.10
2,323.13
2,216.08
20%
25%
19%
266.07
960.43
1,435.10
2661.6
2726.41
133.03
1,272.22
1,385.97
2791.22
2602.35
133.03
788.12
1,492.33
2413.48
2254.245
25%
31%
24%
9,702.20
4,837.41
4,171.34
8,406.17
3,505.26
3,253.97
5,534.24
3,002.68
2,604.99
2.33
2.58
2.12
156.93
141.29
171.81
4,330.59
2,230.63
2,219.77
3,397.84
2,208.90
1,923.57
2,778.92
1,638.24
1,484.13
1.95
1.77
1.87
187.09
206.63
194.93
13,309.59
1,230.37
1,207.79
11.02
11,407.15
1,185.21
1,103.64
10.34
7,436.18
1,022.06
990.02
7.51
33.12
35.31
48.59
3,195.69
3,399.11
1.15
6,595.95
133.03
1,976.00
2,109.03
133.03
304.41
1,657.57
2095.01
4,554.36
2,207.29
0.00
1,330.01
6,168.99
957.97
(63.29)
(100.66)
(71.72)
960.43
1,435.10
2,395.53
2,526.86
266.07
2,632.34
2,898.41
2,777.55
1,272.22
1,385.97
2,658.19
2,469.32
133.03
2,523.65
2,656.68
2,489.91
788.12
1,492.33
2,280.45
2,121.22
133.03
2,190.10
2,323.13
2,216.08
0.91
0.99
304.41
1,657.57
1,961.98
133.03
1,976.00
2,109.03
0.96
10287.5
9374.8
5700.95
4797.6
32.56
1,230.37
2,230.63
4,796.04
8289.6
8112.025
4,837.41
4,171.34
179.53
1,185.21
2,208.90
4,360.81
7934.45
7445.605
3,505.26
3,253.97
188.92
1,022.06
1,638.24
4,107.54
6956.76
6263.68
3,002.68
2,604.99
86.93
957.97
1,330.01
3,195.69
5570.6
1.94
32.56
106.045
4,837.41
4,171.34
0.03
3,493.56
3,533.60
3.77
2.29
179.53
184.225
3,505.26
3,253.97
0.06
3,573.64
3,211.43
3.55
2,207.29
2.40
188.92
137.925
3,002.68
2,604.99
86.93
2,207.29
0.05
2,849.22
2,612.07
2.85
2,374.91
4,211.77
4,087.37
3.26
3,962.96
3,809.63
2.99
3,656.30
3,565.10
2.09
3,473.89
Profit & Loss account of Ashok Leyland
------------------- in Rs. Cr. ------------------Mar '13

Mar '12
Mar '11
12 mths
Income
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Selling and Admin Expenses
Preoperative Exp Capitalised
Total Expenses
12 mths
12,481.20 14,134.08 12,393.36

0
824.49
986.21
12,481.20 13,309.59 11,407.15
351.91
41.68
40.6
-271.98
175.03
175.54
12,561.13 13,526.30 11,623.29
8,925.14 9,702.20 8,406.17
86
76.75
65.19
1,075.51 1,039.07
974.6
0
99.67
86.04
0 1,001.27
857
1,246.10
334.4
0.19
0
-25.09
-24.06
11,332.75 12,228.27 10,365.13
Mar '13
Mar '12
Mar '11
12 mths
Operating Profit
PBDIT
Interest
PBDT
Depreciation
Other Written Of
Profit Before Tax
Extra-ordinary items
PBT (Post Extra-ord Items)
Tax
Reported Net Profit
Total Value Addition
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data (annualised)
Shares in issue (lakhs)
12 mths
876.47
1,228.38
376.89
851.49
380.78
0
470.71
0
470.71
37
433.71
2,407.62
0
159.64
27.13
12 mths
1,256.35
1,298.03
255.25
1,042.78
352.81
0
689.97
0
689.97
124
565.98
2,526.05
0
266.07
43.16
12 mths
1,217.56
1,258.16
188.92
1,069.24
267.43
0
801.81
0
801.81
170.5
631.3
1,958.96
0
266.07
43.16
26,606.77 26,606.77 13,303.38
Earning Per Share (Rs)

Equity Dividend (%)
Book Value (Rs)
1.63
60
16.74
2.13
100
10.89
4.75
200
19.97
----------------Mar '10
12 mths
8,071.74
635.56
7,436.18
89.34
251.85
7,777.37
Balance Sheet of Ashok Leyland

Mar '09
------------------- in Rs. Cr. -----Mar '13
12 mths
12 mths
6,826.96
657.97
6,168.99
71.07
1.05
6,241.11
5,534.24 4,554.36
44.47
38.42
671.61
566.26
45.51
50.3
645.89
495.68
0.16
0.13
-15.25
-8.2
6,926.63 5,696.95
Mar '10
Mar '09
12 mths
761.4
850.74
101.85
748.89
204.11
0
544.78
0
544.78
121.1
423.67
1,392.39
0
199.55
33.14
12 mths
473.09
544.16
157.3
386.86
178.41
0
208.45
0.26
208.71
18.45
190
1,142.59
0
133.03
22.61
13,303.38 13,303.38
Sources Of Funds
Total Share Capital
Share Application Money
Preference Share Capital
Reserves
Revaluation Reserves
Networth
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities
266.07
266.07
0
0
4,189.04
0
4,455.11
1,903.46
1,601.36
3,504.82
7,959.93
Mar '13
12 mths
Application Of Funds
Gross Block
Less: Accum. Depreciation
Net Block
Capital Work in Progress
Investments
Inventories
Sundry Debtors
Cash and Bank Balance
Loans and Advances
Fixed Deposits
Total CA, Loans & Advances
Defered Credit
Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets
7,715.37
2,433.49
5,281.88
688.93
2,337.63
1,896.02
1,419.41
13.94
3,329.37
1,458.89
0
4,788.26
0
4,749.58
387.2
5,136.78
-348.52
0
3.18
150
17.46
1.43
100
15.85
---------------- in Rs. Cr. ------------------Mar '12

Mar '11
Mar '10
12 mths
12 mths
12 mths
Mar '09
12 mths
266.07
133.03
133.03
133.03
266.07
133.03
133.03
133.03
0
0
0
0
0
0
0
0
2,632.34 2,523.65 2,190.10 1,976.00
1,313.36 1,306.28 1,333.17 1,364.86
4,211.77 3,962.96 3,656.30 3,473.89
960.43 1,272.22
788.12
304.41
1,435.10 1,385.97 1,492.33 1,657.57
2,395.53 2,658.19 2,280.45 1,961.98
6,607.30 6,621.15 5,936.75 5,435.87
Mar '12
Mar '11
Mar '10
Mar '09
12 mths
7,174.30
2,147.77
5,026.53
577.31
1,534.48
2,230.63
1,230.37
32.56
3,493.56
1,302.48
0
4,796.04
0
4,837.41
496.94
5,334.35
-538.31
7.31
12 mths
6,691.89
2,058.10
4,633.79
387.82
1,230.00
2,208.90
1,185.21
179.53
3,573.64
787.17
0
4,360.81
0
3,505.26
490.33
3,995.59
365.22
4.31
12 mths
6,018.63
1,769.07
4,249.56
619.71
326.15
1,638.24
1,022.06
188.92
2,849.22
928.31
330.01
4,107.54
0
3,002.68
368.69
3,371.37
736.17
5.17
12 mths
4,953.27
1,554.16
3,399.11
1,043.19
263.56
1,330.01
957.97
86.93
2,374.91
819.63
1.15
3,195.69
0
2,207.29
268.08
2,475.37
720.32
9.69

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Ashok Leyland Financial Statement Analysis

------------------- in Rs. Cr. ----------Mar '13

2. Operating Profit Margin

3. Net Profit Margin

Total Current Assets

Return on Capital employed

Inventory Days 365/Fci

Cash Conversion Cycle

Current Ratio=Current Assets/Current Liabilities

Current Ratio=Current Assets/Current Liabilities

Quick Ratio=Cash/Current Liabilities

Asset Turnover Ratio=Net Sales/Avg Total Assets

Equity Turnover=Net Sales/Avg Net Worth

--------- in Rs. Cr. ------------------Mar '12

Profit & Loss account of Ashok Leyland

------------------- in Rs. Cr. ------------------Mar '13

12,481.20 14,134.08 12,393.36

26,606.77 26,606.77 13,303.38

Earning Per Share (Rs)

Balance Sheet of Ashok Leyland

------------------- in Rs. Cr. -----Mar '13

---------------- in Rs. Cr. ------------------Mar '12

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