TERM PAPER

ON
FINANCIAL
MANAGEMENT

TOPIC:-COST OF CAPITAL OF
TWO COMPANIES

SUBMITTED TO:- SUBMITTED BY:-

MRS.MONIKA UPPAL MAM SAHIL TALWAR

Section A3801
Roll No. RA3801B59
Program code 142
Reg. No. 10805845

LOVELY PROFESSIONAL UNIVERSITY

LOVELY HONOURS SCHOOL OF TECHNOLOGY
 ACKNOWLEDGEMENT

I take this opportunity to offer my deep gratitude to all

those who have extended their valued support and advice

to complete this term paper. I cannot in full measure,

reciprocate the kindness showed and contribution made by

various persons in this endeavor.

I acknowledge my sincere thanks to Mrs.MONIKA UPPAL

(Faculty Member) who stood by me as a pillar of strength

throughout the course of work and under whose mature

guidance the term paper arrives out successfully. I am

grateful to his valuable suggestions.

Sahil talwar
Contents
Contents................................................................................................................................................3
Focus on Motorcycle.....................................................................................................................5
Sources of funds...............................................................................................................................19
Loan funds........................................................................................................................................19
Uses of funds....................................................................................................................................19
Net current assets..............................................................................................................................19
Notes: ..............................................................................................................................................20
Income..............................................................................................................................................20
Expenses...........................................................................................................................................20
Sources of funds...............................................................................................................................22
Loan funds........................................................................................................................................22
Uses of funds....................................................................................................................................22
Net current assets..............................................................................................................................22
Notes: ..............................................................................................................................................23
Rs . crore...................................................................................................................................23
Income..............................................................................................................................................23
Expenses...........................................................................................................................................23
 INTRODUCTION

HISTORY OF TVS MOTORS

The company was established by T.V Sundaram Iyengar in the year 1911 and was
primarily into the production of mopeds. TVS Motor Company Limited, the flagship
company of the USD 2.2 billion TVS Group, is the third largest two-wheeler
manufacturer in India and among the top ten in the world, with an annual turnover of

over USD 650 million. The company has many first to its credit like
the introduction of the first indigenous moped and a 100 cc motorcycle in
collaboration with Japanese auto giant Suzuki.
When the collaboration ended in 2003, many thought that the company would die a
natural death due to the exit of the foreign collaborator. However the company
proved its detractors wrong by introducing the TVS Victor and rest as they say is
history. The company roped in master blaster Sachin Tendulkar for the promotions
and the sales went northwards after that. TVS company is aiming to capture a quarter
of the total two wheeler market in the country.

Founder T V Sundaram Iyengar

 Country India

Year of Establishment August 1980 (TVS Group in 1911)

Industry Manufacturing of two-wheelers and auto components

Business Group TVS Group

TVS Motor Company Limited is the flagship company of TVS Group, the USD 2.2 billion group.
The Group is the third largest two-wheeler manufacturer in India and globally among the top ten,
with an annual turnover of over USD 650 million.
Currently, the group has more than 30 companies and employs over 40,000 people worldwide. With
steady growth, expansion and diversification, it commands a strong presence in the manufacturing
of two-wheelers, auto components and computer peripherals. They also have vibrant businesses in
the distribution of heavy commercial vehicles (HCV) passenger cars, finance and insurance.
1980 is the red letter year for TVS when India's first two-seater moped rolled out. It ushered in an
era of affordable personal transportation.

Globally, TVS Motor Company is the first two-wheeler manufacturer to be honoured with the
hallmark of Japanese Quality - The Deming Prize for Total Quality Management.

Focus on Motorcycle
TVS group was a pioneer in mopeds but slowly they have shifted focus to the
motorcycle segment since the entire market seems to be moving in that direction as
consumer preferences and choices have changed with the changing times. The
company has been able to outdo itself and spring a surprise, as many analysts felt that
the company would be pushed to the periphery of the two wheeler market. With the
exit of Suzuki, many felt TVS would have to limit itself to the moped market in the
country.
The company did not have a good track record of in-house product development as
most of its' earlier ventures like the Shaolin, Shogun and the Supras failed to take off.
This further heightens the importance of the success of the TVS Victor, the company
aims to become the number 2 two wheeler manufacturers in India and also want to
crack the top five in Asia. The company has products across all categories from
premium motorcycles to entry level mopeds and has recently launched Apache in the
premium segment.

1982
- The company was incorporated as Indian Motorcycle Pvt. Ltd. on 15th July. Its name was
changed to Indo Suzuki Motorcycles Pvt. Ltd. and it was converted into a public limited
company on 12th January, 1984. It was promoted by Mr. N. Krishnan in collaboration with
Suzuki Motor Co. Ltd. Japan; Sundaram-Clayton, Ltd., a member of the Company to the
extent of Rs 70 lakhs.

- The company entered into a technical know-how and assistance agreement with Suzuki Motor
Co. Ltd., of Japan on 22nd September. As per the terms of the Colloboration, Suzuki agreed
to furnish complete technical information and know-how, trade secrets and other data.

- All shares taken up by promoters etc. 1984

- The company received a letter of intent for the manufacture of 20,000 spark ignition operated
out board motors and 30,000 internal combustion spark ignition engines upto 500cc per
annum.

- 59,40,000 shares issued at par in 1984. 7,00,000 shares allotted to Sundaram Clayton, Ltd.
Chennai, 70,000 shares allotted to Anusha Investments (P) Ltd. Chennai, 20,00,000 shares
allotted to Suzuki Motor Co., Ltd., Japan; 2,20,000 shares allotted to employees and
business associates and 29,70,000 shares offered to the public. 1985

- A new company "Lakshmi Auto Components Pvt Ltd." was incorporated for the manufacture
of critical engines and transmission parts. 1986

- The company acquired the assets of the moped division from Sundaram Clayton Ltd. The cost
of acquisition was met partly by rights issue of equity shares. The company subscribed to
39,20,000 equity shares of Rs.10 each of Lakshmi Auto Components Pvt Ltd, whereupon it
became a subsidiary of the company.

- The name of the company was changed from Indo Suzuki Motorcycles Ltd. to TVS Suzuki
Ltd with effect from 18th August.

- 154,00,000 Rights Equity shares issued at par in prop. 2:1. 1988

- The company obtained a letter of intent for expanding the capacity to 4,00,000 Nos. two
wheelers. 1989

- The working was adversely affected due to labour unrest which resulted in a lock-out from
28th February 1990. The lock out was lifted in the second week of June 1990. 1990

- The company launched a 34cc miniped to take advantage of the Motor Vehicle Act that
exempts such vehicles from the payment of road tax. The Company worked for only 10
months due to lock-out. 1991

- The technical aid agreement entered into with Suzuki Motor Co., Japan which expired in
August 1991 was extended for three more years with the approval of the Government of
India.

1992
- The Company launched two new models of motor cycles viz. `Sumurai' and `Shogun'.

1993

- The Company launched a new model of moped viz. `TVS Scooty'.

1995

- The Company was studying the feasibility of opening a second plant at a different location to
meet the growth in demand for two wheelers in the near future. It also proposed to introduce
upgraded version of mopeds. In addition, during the year, the Company undertook to
develop new models of motorcycles.

1996

- The company is taking steps to meet the increase in demand for its products and improve the
market share.

- A statement relating to the subsidiary, M/s Lakshmi Auto Components Limited, Chennai, and
a copy of its annual accounts for the year ended 31st March, 1996 are attached to the
Balance Sheet pursuant to section 212 of the Companies Act, 1956.

- As per the requirements of section 217(1)(e) of the Companies Act, 1956 read with the
Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, the
information regarding conservation of energy, technology absorption and foreign exchange
earnings and outgo are given in annexure I to this report.

1997

- TVS-Suzuki plans to set up an auto ancillary estate through joint venture with some of its
existing components suppliers. The proposed project is to come up at a new 57 - acre site
near TVS-Suzuki's existing plant at Hosur.

- Leading two-wheeler manufacturer in the country, TVS Suzuki, will soon set up a new 2.5
lakh capacity scooter plant in Mysore.

- TVS-Suzuki (TSL) - a joint venture between the TVS group and Suzuki Motor Corporation,
Japan - was the first company to launch a 100-cc motorcycle in the Indian market.

- Credit Analysis & Research Ltd (Care) has assigned the credit rating of CARE AA+ (double A
plus) to the proposed non-convertible debenture issue of Rs.100 crore by TVS-Suzuki Ltd
(TSL).

- TVS Suzuki is a joint venture between Saundaram Clayton Ltd. of the TVS group and Suzuki
Motor Corporation, Japan.

- The company proposes to introduce kick start facility.

- TVS Suzuki Ltd (TSL), the second largest two-wheeler manufacturer in the country, will be
restructuring its entire vendor-base in the next five years with the objective of creating
robust vendors to meet its future expansion plans.

- TVS Suzuki Limited is officially launching its new moped model, the XL Super.

- The Rs. 100 crores non-convertible debentures of TVS-Suzuki Limited rating of AA + (high
safety with higher standing) has been retained by CARE.

1998

- TVS Suzuki Ltd, one of the leading two-wheeler manufacturers in the country, has crossed the
Rs.1,000-crore turnover mark in 1997-98.

- TVS will be the first company in the country to introduce the 4 stroke scooter in the Indian
market.

- TVS' new-generation state-of-the-art four-stroke scooter Spectra, of which we gave you an

exclusive preview last month, was launched in spectacular fashion at the TVS Millennium
Show on October 1 in New Delhi.

- TVS Suzuki Ltd on October 1 launched its new generation 4-stroke scooter `TVS Spectra' in
Delhi.

1999

- TVS Suzuki is all set to launch a scaled-down version of Spectra -- the recently launched four-
stroke scooter.

- The company is set to launch Spectra on a nation-wide basis in April.

- Suzuki has indicated to the TVS group that if it did not agree to the Japanese company's
acquiring a majority stake, it should allow Suzuki to set up a 100 per cent subsidiary.

2000

- The Company, pioneers of Indo-Japanese motorcycles in the country, has launched its latest
offering, Suzuki Fiero, in the Kerala market.

- The Tamil Nadu based TVS-Suzuki has launched the 150 CC four-stroke powerhouse Suzuki
Fiero in Tamil Nadu, close on the heels of its launch in Rajasthan, Karnataka and Kerala.

- Two-Wheeler major, TVS-Suzuki Limited is set to create a special cell to tap the institutional
segment.

- The Company proposes to relaunch its four-stroke scooter, Spectra, in July.

- Two-wheeler major TVS Suzuki is all set to cross the magic one million mark durisng the
current fiscal with 12 new models lined up over the next 18 months.
- Motocycle giant, TVS Suzuki, has forged an alliance with Brand Dotcom to leverage the
latter's online expertise brand building on the Net.

- TVS-Suzuki Ltd on August 30th, formally launched its indigenously developed 4-stroke
motorcycle, TVS Victor, here. The price has been fixed at Rs 41,187, (ex-showroom,
Chennai).

- The TVS group and Suzuki Motor Corporation September 27 parted ways from their 15-year-
old joint venture with the former buying out the 25.97 per cent stake of the Japanese
company for Rs 9 crore.

2002

- TVS Motor Company Ltd has informed that the Board declared an interim dividend of Rs 9.00
per share on 2,31,00,070 equity shares of Rs 10/- each fully paid up, aggregating to Rs
231.00 million.

2003

-TVS Motor Company has recorded a market share of 35% from motor cycles division

-K.S.Bajpai has been appointed as an Additional Director on the Board.

-TVS, Bajaj Auto and Yamaha have grabbed the market share from the country's largest motor
cycle maker Hero Honda.

-The TVS victor sales has crossed 4 lakh unit mark in less than 18 months of its launch.

-TVS Motor has recorded a 31% growth in its sales.

-C V R Panikar has been appointed as Additional Director on the Board of TVS Motor
Company Ltd.

-TVS Motor Company has reintroduced Fiero, inorder to compete with Bajaj Pulsar.

-TVS Motor Company Ltd has introduced its own racing bikes which Team TVS will test on
the tracks in Asian Circuit.

-TVS Motor launched 4 new mobikes including a new brand 100-cc mobike called the Centra.

-TVS Motor Chairman and MD Venu Srinivasan has been selected in Business Week's Stars of
Asia which covers the top 25 achievers in the continent.

-TVS Motor Company adds two new models in two-wheeler segment.

-TVS Motor ties up with State Bank of India for scooter and Motorcycle financing.

-Launches Fiero F2 and Scooty Pep models

-Board of approves the merger of engine components division of its subsidiary, Lakshmi Auto
Components (LAC) with TVS Motors effective from April 2, 2003

2004

-TVS Motor , on Jan 5 launched Centra, a 100 cc four-stroke motor cycle, with variable timing
intelligent (VTI) engines, claiming to give more mileage to consumers. The Centra has
bundled price, style, power along with fuel efficiency making it a fill-once-a-month bike,
and it's priced at Rs.36,990. nearly Rs 100 crore investment had gone into the launch of
'Centra', including R&D, plant and machinery.

-TVS Motor Company Unveil TVS Centra With ' VT-i Engines',, a 100 CC 4 stroke motorcycle

-TVS Motor Company launched its new bike - TVS Centra - here on February 9, 2004, for the
first time in the State. It is a 100-cc four-stroke motorcycle targeted at the popular segment
and a Fill-it-once-a-month bike, competitively priced at Rs. 36,990. The vehicle has been
launched in January in the metros and other cities and so far 8,000 vehicles had been sold in
the country.

-TVS Motor Company and Union Bank of India (UBI) have announced the launch of `Union
Miles Scheme,' an exclusive two-wheeler finance scheme

- TVS Motor Company (TVS) launches new 125cc, 4-stroke Victor GLX motorcycle in
Chennai on May 02, 2004

-TVS Vice President resigns

-TVS Motors forges alliance with Andhra Bank

-Canara Bank, TVS Motor rolls out TVS Canmobile

-TVS picks up Asian Network for Quality award

-TVS unveils new version of 'Victor GX'

2005

-TVS Motor Company introduced its entry-level 4-stroke motorcycle - TVS Star - in the Kerala
market

-TVS rolls out Star bike in Andhra Pradesh

-TVS Motor Company launches TVS Centra VT-i, a variant of its four-stroke 100cc model TVS
Centra on May 6

-TVS Motor rolls out two motorcycle variants named Victor EDGE, StaR City and Scooty Pep
plus

2006
 -TVS Motor appoints new President

-TVS launches Apache in Vizag

-TVS Motor Company launched a new version of 125 cc Victor GLX with an electric start
option

2007

-TVS Motor Co, has rolled out seven new vehicles, including its first three-wheeler and a new
125 cc bike, aimed at gaining lost share in a highly competitive market.

2009

- TVS Motor Company launched Scooty Streak, which is its latest scooterette targeted at girls of
16 to 20 age group.

- Tvs Motor Company Limited has appointed Mr Prince Asirvatham as an additional and
independent director of the board of directors of the company effective April 21, 2009.

HISTORYOF EXIDE INDIA

The company was incorporated as Associated Battery Makers (Eastern) Ltd., on 31

January, 1947 under the Companies Act, 1913 to purchase all or any of the assets of
the business of manufacturers, buyers and sellers of and dealers in and repairers of
electrical and chemical appliances and goods carried on by the Chloride Electric
Storage Company (India) Ltd, in India, since 1916 with a view thereto to enter into
and carry into effect (either with or without modification) an agreement which had
already been prepared and was expressed to be made between the Chloride Electric
Storage Co (India) Ltd on the one part and the company of the other part. The name
of the company was changed to Chloride India Ltd on 2 August, 1972. The name of
the company was again changed to Chloride Industries Ltd. vide fresh Certificate of
Incorporation dated 12 October, 1988. The name of the company was further changed
to Exide Industries Ltd. on 25 August, 1995.

The company manufactures the widest range of storage batteries in the world from
2.5 Ah to 20,400 Ah capacity, covering the broadest spectrum of applications. The
company has six factories strategically located across the country – two in
Maharashtra, one in West Bengal, two in Tamil Nadu and one in Haryana. The
company’s predecessor carried on their operations as import house from 1916 under
the name Chloride Electrical Storage Company. Thereafter, the company started
manufacturing storage batteries in the country and have grown to become one of the
largest manufacturer and exporter of batteries in the sub-continent today. Exide
separated from its UK-based parent, Chloride Group Plc., in 1989, after the latter
divested its ownership in favour of a group of Indian shareholders. The company has
grown steadily, modernised its manufacturing processes and taken initiatives on the
service front. Constant innovations have helped the company to produce the world’s
largest range of industrial batteries extending from 2.5 Ah to 15000 Ah and covering
various technology configurations.

Milestones
1916 Chloride Electric Storage Co. (CESCO) UK sets up trading operations in India as an
import house.
1946 First factory set up in Shamnagar, West Bengal.
1947 Incorporated as Associated Battery Makers (Eastern) Limited on 31 January 1947
under the Companies Act.
1947 Incorporated Chloride International Limited (previously Exide Products Limited)
1969 Second factory at Chinchwad, Pune
1972 The name of the Company was changed to Chloride India Limited
1976 R&D Centre established at Kolkata
1981 Third factory at Haldia, West Bengal
1988 The name of the Company was changed to Chloride Industries Limited
1994 Technical collaboration with Shin Kobe Electric Machinery Co. Ltd. of Japan, a
subsidiary of the Hitachi Group.
1995 Chloride Industries Limited renamed Exide Industries Limited
1997 Fourth factory at Hosur, Tamil Nadu
1998 Acquisition of industrial/ manufacturing units of Standard Batteries Ltd located at
Taloja & Kanjurmarg (Maharashtra), Guindy (Tamilnadu) and plant at
Ahmednagar (Maharashtra) from Cosepa Fiscal Industries Limited as a going
concern.
1999 Acquired 51% Shareholding in Caldyne Automatics Ltd
2000 Acquisition of 100% stake in Chloride Batteries S E Asia Pte Ltd., Singapore and 49%
 stake in Associated Battery Manufacturers (Ceylon) Limited, Sri Lanka.
2003 Commissioned plant at Bawal, Haryana
2003 New joint venture in UK, ESPEX, with 51% holding.
2004 Associated Battery Manufacturers (Ceylon) Limited, Sri Lanka became a subsidiary
consequent to acquiring further 12.50% Equity holding.
2005 Investment in 50% shareholding of ING Vysya Life Insurance Company Limited
2007 Caldyne Automatics Ltd becomes 100% subsidiary consequent to acquiring the
balance 49% shareholding.
2007 Investment with 26% shareholding.in CEIL Motive Power Pty Ltd. A Joint Venture in
Australia.
2007 Acquired 100% stake in Tandon Metals Ltd.
2008 Acquired 51% stake in Lead Age Alloys India Ltd

STOCK PRICES OF TVS MOTORS

Symbol Date Open High Low Close Average

Price Price Price Price Price
TVSMOTOR 28-Nov- 104.65 104.65 100.1 101.8 102.67
05
TVSMOTOR 26-Dec- 105.5 105.5 98 98.35 100.18
05
TVSMOTOR 9-Jan-06 119.9 119.9 111 113.85 114.79
TVSMOTOR 17-Feb- 122.9 126.6 120.3 121.35 124.18
06
TVSMOTOR 31-Mar- 139.9 144.35 134.6 140.45 140.57
06
TVSMOTOR 5-Apr-06 160 186.5 158 176.15 176.6
TVSMOTOR 10-May- 172.8 172.8 165 165.9 168.77
06
TVSMOTOR 1-Jun-06 125 129 118 119.6 123.41
TVSMOTOR 3-Jul-06 99 101.9 98.15 99.35 99.91
TVSMOTOR 21-Aug- 94 97.75 93.5 96.55 96.44
06
TVSMOTOR 29-Sep- 124.8 127 123.25 124.45 125.37
06
TVSMOTOR 3-Oct-06 126.7 129.4 125.15 126.4 127
TVSMOTOR 1-Nov-06 106 110.9 106 107.2 107.85
TVSMOTOR 4-Dec-06 99 100.8 98.6 99.15 99.66
TVSMOTOR 2-Jan-07 82.55 87 82.55 85.05 85.26
TVSMOTOR 6-Feb-07 74.5 78.4 74.1 76.85 76.28
TVSMOTOR 30-Mar- 61.95 65 59.35 59.55 59.87
07
TVSMOTOR 30-Apr-07 61.7 65.7 61 64.45 63.57
TVSMOTOR 29-May- 71 71.5 68.35 68.7 69.55
07
TVSMOTOR 6-Jun-07 72 72 67.5 68.25 69.37
TVSMOTOR 17-Jul-07 63.15 64.2 62.5 63.5 63.44
TVSMOTOR 31-Aug- 62.7 69.7 62.7 65.8 65.99
07
TVSMOTOR 11-Sep- 75.8 77 70.55 71.1 72.52
07
TVSMOTOR 1-Oct-07 70.05 73.25 70 70.8 71.56
TVSMOTOR 20-Nov- 71 73.6 67.3 68 71.48
07
TVSMOTOR 17-Dec- 78.1 78.85 68.5 70.7 75.36
07
TVSMOTOR 8-Jan-08 78.95 78.95 71 72.25 74.17
TVSMOTOR 29-Feb- 43.1 44.9 42.1 43.8 43.78
08
TVSMOTOR 3-Mar-08 44 45.55 42.2 42.6 44.21
TVSMOTOR 30-Apr-08 39.3 43.75 39 43.2 42.17
TVSMOTOR 2-May-08 44 47.4 43.75 45.75 45.76
TVSMOTOR 2-Jun-08 36.9 39.9 36.1 36.95 37.9
TVSMOTOR 31-Jul-08 32.85 32.9 31.2 32.05 32.21
TVSMOTOR 12-Aug- 34.85 35.15 33.4 33.65 33.96
08
TVSMOTOR 8-Sep-08 35.15 35.95 34.3 34.5 35.11
TVSMOTOR 17-Oct-08 31.6 37.75 30 30.05 31.21
TVSMOTOR 5-Nov-08 32.25 32.25 29.5 29.95 30.7
TVSMOTOR 8-Dec-08 25 28 23 23.05 24.03
TVSMOTOR 5-Jan-09 24.3 24.5 23.4 23.55 23.84
TVSMOTOR 25-Feb- 18.5 20.1 18.2 19 19.27
09
TVSMOTOR 31-Mar- 23.25 23.45 22.15 22.7 22.79
09
TVSMOTOR 24-Apr-09 33.25 35 30.05 30.55 31.29
TVSMOTOR 19-May- 45.9 50.2 39.1 42.8 43.25
09
TVSMOTOR 8-Jun-09 52.15 54.25 45.1 46 50.1
TVSMOTOR 29-Jul-09 54.4 65.55 53.5 64.1 61.19
TVSMOTOR 3-Aug-09 59.6 61.8 59 60.4 60.64
TVSMOTOR 30-Sep- 61.3 64 60.7 63.3 62.33
09
TVSMOTOR 23-Oct-09 66 66 62 62.45 63.77
TVSMOTOR 13-Nov- 58.9 63.9 58.5 60.05 60.82
09

200
150
100
High Price
50
0 High Price

High Price
 STOCK PRICES OF EXIDE INDIA

Symbo Date Open High Low Close Average

l Price Price Price Price Price
EXIDEI 26- 219.4 233 219.4 226.35 228.39
ND Nov-05
EXIDEI 30-Dec- 267 275 259.5 263.5 265.45
ND 05
EXIDEI 12-Jan- 269 269.15 250.05 259.85 259.41
ND 06
EXIDEI 10-Feb- 259.9 259.9 242 251.2 250.08
ND 06
EXIDEI 27- 295 295 266.35 269.75 273.19
ND Mar06
EXIDEI 17-Apr- 297.5 311.8 288.25 291.2 300.8
ND 06
EXIDEI 9-May- 284.9 286 276.25 278.5 280.67
ND 06
EXIDEI 26-Jun- 274.2 289 254.45 258.75 265.02
ND 06
EXIDEI 31-Jul- 272.15 278 267.15 269 273.88
ND 06
EXIDEI 30- 333 373.6 330 363.15 356.81
ND Aug-06
EXIDEI 7-Sep- 356.5 391.4 352.25 385.3 379.51
ND 06
EXIDEI 19-Oct- 39 43.15 38.7 41.95 41.29
ND 06
EXIDEI 2-Nov- 42.8 42.8 41 41.5 41.94
ND 06
EXIDEI 1-Dec- 40.1 40.25 39.6 39.75 39.93
ND 06
EXIDEI 31-Jan- 42.75 45.8 41.2 45.15 44.34
ND 07
EXIDEI 1-Feb- 46 50.9 46 48.25 48.77
ND 07
EXIDEI 6-Mar- 46.15 47.85 44.5 45 45.13
ND 07
EXIDEI 19-Apr- 43.4 45.45 43 45 44.43
ND 07
EXIDEI 23- 47.5 48.25 46.05 46.2 46.9
ND May07
EXIDEI 29-Jun- 46.4 49 46.05 48.3 47.23
ND 07
EXIDEI 23-Jul- 59.65 62.9 54.95 55.85 58.54
ND 07
EXIDEI 31- 62.2 63.55 62 63.3 63.01
ND Aug-07
EXIDEI 25-Sep- 64 66.9 62.5 64.25 65.14
ND 07
EXIDEI 31-Oct- 68 78.35 67.6 75.6 72.98
ND 07
EXIDEI 19- 76.8 88.4 76 82.95 84.42
ND Nov-07
EXIDEI 27-Dec- 80 81 75.1 75.7 78.46
ND 07
EXIDEI 14-Jan- 81 90.8 81 86.5 86.76
ND 08
EXIDEI 1-Feb- 71.15 84.8 71.15 80.6 80.62
ND 08
EXIDEI 3-Mar- 74.25 74.95 72.1 72.8 73.93
ND 08
EXIDEI 23-Apr- 78 82.1 72.3 73.75 76.8
ND 08
EXIDEI 20- 75.75 80.7 74.65 80 78.21
ND May08
EXIDEI 4-Jun- 73.5 76.45 72.6 75.35 74.76
ND 08
EXIDEI 23-Jul- 66.95 73.85 66.6 69.55 69.94
ND 08
EXIDEI 6-Aug- 72.95 74 72.25 72.55 73.27
ND 08
EXIDEI 2-Sep- 70.8 71.8 69.1 69.75 70.03
ND 08
EXIDEI 3-Oct- 62 64.85 61.25 63.25 63.28
ND 08
EXIDEI 3-Nov- 50.4 51.6 47.25 47.95 48.21
ND 08
EXIDEI 19-Dec- 46.3 51.45 45.25 47.95 48.36
ND 08
EXIDEI 2-Jan- 50.95 51.6 49.1 49.5 49.74
ND 09
EXIDEI 3-Feb- 39.3 43.5 39.3 41.5 41.67
ND 09
EXIDEI 23- 39.2 42.9 38.7 40.2 40.08
ND Mar09
EXIDEI 27-Apr- 53 57.25 52.6 53.45 55
ND 09
EXIDEI 29- 65.6 72.4 65.5 70.85 69.77
ND May09
EXIDEI 5-Jun- 77.5 78.75 74.4 75.05 76.01
ND 09
EXIDEI 31- 92.8 97.45 90.1 95.65 93.57
ND Aug-09
EXIDEI 2-Sep- 94 97 90.1 90.8 93.16
ND 09
EXIDEI 15-Oct- 102.9 111.6 102.35 105.55 106.91
ND 09
EXIDEI 16- 122 124.6 119.7 120.6 122.46
ND Nov-09

400
300
200 High Price
100
0 High Price

BALANCE SHEET OF TVS MOTORS

 Mar ' Mar ' Mar ' Mar ' Mar ' 05
09 08 07 06

Sources of funds
Owner's fund
Equity share capital 23.75 23.75 23.75 23.75 23.75
Share application - - - - -
money
Preference share - - - - -
capital
Reserves & surplus 789.38 797.83 785.52 742.37 655.08

Loan funds
Secured loans 622.42 452.68 446.16 308.61 175.01
Unsecured loans 283.56 213.66 187.40 76.43 11.83
Total 1,719.11 1,487.92 1,442.83 1,151.16 865.67

Uses of funds
Fixed assets
Gross block 1,865.36 1,790.97 1,483.01 1,378.41 1,287.22
Less : revaluation - - - - -
reserve
Less : accumulated 869.42 774.49 685.93 611.63 523.64
depreciation
Net block 995.94 1,016.48 797.08 766.78 763.58
Capital work-in- 40.43 26.57 205.83 26.97 6.90
progress
Investments 477.71 338.96 344.74 344.19 175.39

Net current assets

Current assets, loans 971.27 839.84 860.59 674.12 522.27
& advances
Less : current 841.57 786.70 823.95 754.41 671.93
liabilities &
provisions
Total net current 129.70 53.14 36.64 -80.29 -149.66
assets
Miscellaneous 75.33 52.77 58.54 93.51 69.46
expenses not
 written
Total 1,719.11 1,487.92 1,442.83 1,151.16 865.67

Notes:
Book value of 393.77 235.77 209.95 209.95 82.81
unquoted
investments
Market value of 55.73 118.18 137.38 147.31 85.91
quoted
investments
Contingent liabilities 170.10 135.65 230.73 123.15 106.53
Number of equity 2310.01 2375.44 2375.44 2375.44 2375.44
sharesoutstandin
g (Lacs)

PROFIT AND LOSS ACCOUNT OF

TVS MOTORS
Mar ' Mar ' Mar ' Mar ' Mar '
09 08 07 06 05

Income
Operating income 3,670.92 3,219.50 3,854.96 3,234.96 2,875.91

Expenses
Material consumed 2,814.09 2,476.38 2,945.90 2,359.78 2,019.72
Manufacturing 74.41 65.90 67.36 56.16 47.92
expenses
Personnel expenses 204.69 176.55 172.45 157.09 140.95
Selling expenses 342.95 355.03 413.91 353.66 347.49
Adminstrative 113.70 100.33 115.39 101.35 107.05
expenses
Expenses capitalised - - - - -
Cost of sales 3,549.84 3,174.19 3,715.01 3,028.04 2,663.13
Operating profit 121.08 45.31 139.95 206.92 212.78
Other recurring 76.16 67.30 74.53 59.99 83.88
income
Adjusted PBDIT 197.24 112.61 214.48 266.91 296.66
Financial expenses 64.61 11.47 42.35 20.99 8.33
Depreciation 102.89 94.59 87.60 93.91 89.63
Other write offs 1.95 1.95 1.88 1.72 0.83
Adjusted PBT 27.79 4.60 82.65 150.29 197.87
Tax charges 0.02 3.60 24.25 51.45 62.88
Adjusted PAT 27.77 1.00 58.40 98.84 134.99
Non recurring items 3.31 30.77 8.20 18.16 2.58
Other non cash - - -0.32 5.50 1.42
adjustments
Reported net profit 31.08 31.77 66.28 122.50 138.99
Earnigs before 62.48 60.86 101.78 160.71 173.42
appropriation
Equity dividend 16.63 16.63 20.19 30.88 30.89
Preference dividend - - - - -
Dividend tax 2.83 2.83 2.94 4.33 4.22
Retained earnings 43.02 41.40 78.65 125.50 138.31
 BALANCE SHEET OF EXIDE INDIA
Mar ' Mar ' Mar ' Mar ' Mar '
09 08 07 06 05

Sources of funds
Owner's fund
Equity share capital 80.00 80.00 75.00 75.00 75.00
Share application money - - - - -
Preference share capital - - - - -
Reserves & surplus 1,137.75 909.45 552.98 429.16 354.09

Loan funds
Secured loans 179.62 272.40 277.87 156.27 116.72
Unsecured loans 137.56 77.41 46.83 133.58 173.47
Total 1,534.93 1,339.26 952.68 794.02 719.29

Uses of funds
Fixed assets
Gross block 1,256.70 1,097.47 946.15 883.21 858.25
Less : revaluation 32.60 36.90 42.48 49.78 55.97
reserve
Less : accumulated 588.70 542.36 480.32 431.97 377.79
depreciation
Net block 635.40 518.21 423.34 401.47 424.49
Capital work-in-progress 17.31 46.67 31.01 6.21 3.79
Investments 668.18 518.28 378.01 278.53 111.62

Net current assets

Current assets, loans & 765.84 888.80 584.24 445.53 461.28
advances
Less : current liabilities 551.80 632.68 463.92 337.72 281.89
& provisions
Total net current assets 214.04 256.12 120.32 107.81 179.39
Miscellaneous expenses - - - - -
not written
Total 1,534.93 1,339.26 952.68 794.02 719.29
Notes:
Book value of unquoted 613.18 518.28 378.01 278.53 111.62
investments
Market value of quoted 55.21 - - - -
investments
Contingent liabilities 9.96 2.03 34.88 10.36 18.88
Number of equity 8000.00 8000.00 7500.00 750.00 750.00
sharesoutstanding
(Lacs)

PROFIT AND LOSS ACCOUNT OF

EXIDE INDIA
Rs . crore
Mar ' Mar ' Mar ' Mar ' Mar '
09 08 07 06 05

Income
Operating income 3,761.28 3,154.55 2,081.41 1,543.26 1,300.65

Expenses
Material consumed 2,274.56 1,904.98 1,162.92 807.10 696.67
Manufacturing 147.46 123.60 110.91 92.32 76.83
expenses
Personnel expenses 170.90 151.03 123.96 99.43 89.93
Selling expenses 554.74 451.49 326.90 279.90 234.41
Adminstrative 63.22 53.42 48.54 41.00 39.21
expenses
Expenses capitalised - - - - -
Cost of sales 3,210.88 2,684.53 1,773.24 1,319.75 1,137.04
Operating profit 550.40 470.03 308.17 223.51 163.61
Other recurring 3.79 3.40 5.04 7.99 2.93
income
Adjusted PBDIT 554.19 473.42 313.21 231.50 166.54
Financial expenses 37.88 40.82 30.38 25.96 14.26
Depreciation 67.94 64.24 54.20 54.80 53.86
Other write offs - - - - -
Adjusted PBT 448.37 368.37 228.63 150.74 98.42
Tax charges 151.00 124.00 72.41 49.05 39.75
Adjusted PAT 297.37 244.37 156.22 101.69 58.67
Non recurring items -12.98 5.96 6.58 0.98 -1.54
Other non cash - - -7.59 -1.95 2.43
adjustments
Reported net profit 284.39 250.33 155.21 100.73 59.55
Earnigs before 565.69 368.73 184.79 102.24 161.03
appropriation
Equity dividend 48.00 32.00 26.25 22.50 18.75
Preference dividend - - - - -
Dividend tax 8.10 5.44 4.46 3.16 2.63
Retained earnings 509.59 331.29 154.08 76.59 139.65

COST OF CAPITALOF TVS MOTORS

 Sources 2009 2008 2007 2006 2005

Equity 22.7 34.9 59.55 140.45 98.1

price per
share

Dividend per 16.63 16.63 20.19 30.88 30.89

share

Retained 43.02 41.40 78.65 125.50 138.31

earnings

Cost of 73.25 47.65 33.90 21.98 34.28

capital(ke)

COST OF CAPITAL OF EXIDE INDIA

Sources 2009 2008 2007 2006 2005

Equity 41.35 67.65 42.5 263.95 219

price per
share

Dividend per 48.00 32.00 26.25 22.50 18.75

share

Retained 509.59 331.29 154.08 76.59 139.65

earnings

Cost of 116.08 47.30 61.76 8.52 8.56

capital(ke)

BIBLIOGRAPHY
• http://www.moneycontrol.com/stocks/companydetails/histdata.php
• http://www.nse-india.com/marketinfo

• http://www.yahoofinance.com

• http://www.scribd.com

• http://en.wikipedia.org/wiki/exideindia

• http://www.pakwheels.com

• http://money.rediff.com/companies/exide-industries-
ltd/10550001/balance-sheet
• http://money.rediff.com/companies/exide-industries-
ltd/10550001/profit-and-loss
• http://money.rediff.com/companies/tvs-motor-company-
ltd/10540010/balance-sheet
• http://money.rediff.com/companies/tvs-motor-company-
ltd/10540010/profit-and-loss
• http://www.exideindustries.com/company_profile.html