Statement of Profit and Loss (KEI Industries)

Fiscal Year Ended March 31 (Data in INR Million

except per share data) 2023-2024 2022-2023 2021-2022
Revenue
Operating Revenue 81040.8 69081.74 57265.51
Other Income 490.16 317.8 148.85
Total 81530.96 69399.54 57414.36
Cost of Revenue
Cost of materials consumed 61613.71 51634.14 45392.3
Purchases of Stock-in-Trade 40.36 14.3 8.2
Changes in inventories of finished goods, Stock-
in-Trade, work-in- progress and intermediates -880.28 75.08 -3258.74
Sub-Contractor Expense 1068.8 1232.7 1280.22
Employee benefits expense 2671.45 2319.85 2006.37
Depreciation and amortization expense 613.55 570.79 554.54
Other expenses-Operating 7988.19 6642.16 5842.58

Total Operating Expense (including Cost of

revenue) 73115.78 62489.02 51825.50
Operating Income (EBIT) 8415.18 6910.52 5588.86
Interest Exp./Finance cost 439.1 347.06 403.93
Other expenses/(Income)- non-operating 163.2 142.98 107.61
Net Income
Provision forBefore
IncomeTaxes
Taxes (current tax+deferred 7812.88 6420.48 5077.32
tax) 2002.35 1646.65 1315.13
Net Income After Taxes 5810.53 4773.83 3762.19
0 0 0
Minority Interest (not available as this is
standalone financial statements)
0 0 0
Equity In Affiliates (not available as this is
standalone financial statements)
Net Income 5810.53 4773.83 3762.19
Basic Weighted Average Shares 90,217,474 90,164,542 90,735,827
Diluted Weighted Average Shares 90,391,504 90,295,002 91,188,438
Basic EPS 64.41 52.95 41.46
Diluted EPS 64.28 52.87 41.26
EPS growth (Y-o-Y) 22% 28% 38%
Effective tax rate 25.6% 25.6% 26%
CAGR EPS 20%
tries)

2020-2021 2019-2020

41814.88 48842.66
200.6 164.69
42015.48 49007.35

27907.95 35031.60
107.71 117.10

1131.2 -1362.44
1493.62 1606.16
1849.43 2275.90
578.14 566.89
4625.39 6076.89

37693.44 44312.10
4322.04 4695.25
573.08 1291.51
144.89 137.07
3604.07 3266.67
908.57 715.64
2695.50 2551.03
0 0.00

0 0.00

2695.50 2551.03
89,725,616 80,969,900
90,577,438 82,163,482
30.04 31.51
29.76 31.05
-5%
25% 22%
 Balance Sheet (KEI Industries)
FY ends-March 31, (INR Million) 2023-2024 2022-2023
Assets
Inventories (Net) 13427.46 11022.91
Raw Materials 3814.76 2247.51
Work In Progress 3214.24 2735.5
Finished Goods 5874.3 5510.22
Traded goods 19.13 14.71
Project Materials 505.03 514.97
Financial Assets (Net) 22468.77 19425.15
Trade Receivables 15178.73 13877.86
Cash and Cash Equivalents 6660.77 4798.89
Bank Balance 342.94 572.75
Loans 21.25 20.84
Other Financial Assets 265.08 154.81

Income Tax Assets (Net) 61.61 59.97

Other Current Assets (Net) 1016.61 1105.18
Advances 534.37 698.77
Prepaid Expenses 49.00 65.34
Earnest Money 17.43 24.6
Government Claims 415.81 316.47
Interest Accrued 0 0

Total Current Assets 36974.45 31613.21

Property/Plant/Equipment (Net) 5412.08 4838.46

Freehold Land 301.17 256.5
Freehold Buildings 2150.11 1851.73
Plant, Machinery/Equipment - Gross 5660.75 5018.46
Furniture and fixtures 158.5 145.81
Vehicles 169.1 152.02
Office equipment 68.97 63.96
Computers 137.83 108.75
Accumulated Depreciation, Total 3234.35 2758.77
Capital Work In Progress (Gross) 1208.87 145.59
Right Of Use Assets (Net) 2276.01 817.89
Lease-hold Land 1901.03 473.12
Lease hold Buildings and Improvements 101.55 117.41
Buildings and Warehouses 273.43 227.36
Asset Taken on Finance Lease 0 0
Intangibles, Net 15.37 16.87
Computer Software 15.37 16.87
Financial Assets, Net 131.07 122.31
LT Investment - Equity Instruments 8.26 5.73
LT Investments - Other 7.61 6.97
Loans 5.45 3.44
Other Financial Assets 109.75 106.17
Other Long Term Assets, Total 546.65 147.08
Capital Advances 543.49 145.61
Prepaid Expenses 3.16 1.47
Total LT Assets 9590.05 6088.20
Total Assets 46564.50 37701.41
Liabilities and Equities
Short Term Liabilities
Financial Liabilities (Net) 11483.22 8880.36
Borrowings 1342.3 1352.55
Lease Liabilities 61.58 46.57
Current Portion Of Long Term Debt ( 1403.88 1399.12
Trades Payable 10079.34 7481.24
Other Finacial liabilities (Net) 2019.73 1780.46
Contract Liabilities 1494.43 1437.02
Interest on Borrowings 2.21 0
Unpaid Dividends 2.9 2.77
Security Deposits Received 14.13 21.67
Employee Benefits Payable 506.06 319
Other Current Liabilities (Net) 682.91 368.38
Sundry Creditors 241.04 113.29
Statutory Dues Payable 437.58 255.09
Deferred Revenue 4.29 0

Provisions (Net) 123.71 91.41

Current Tax Liabilities (Net) 3.78 54.57
Total Current Liabilities 14313.35 11175.18
Long Term Liabilities
Debt (Net) 258.41 219.15
Borrowings 0 0
Lease Liabilities 258.41 219.15
Other Non-Current Liabilities (Net) 64.18 0
Deferred Revenue 64.18 0
Provisions (Net) 172.73 148.79
Deferred Tax Liabilities (Net) 273.19 268.21
Total Long-Term Liabilties 768.51 636.15
Total Liabilities 15081.86 11811.33
Shareholders Equity
Common Stock, Total 180.48 180.38
Reserves and Surplus (Net) 31315.69 25728.99
Capital Reserve 28 28
Securities Premium 6201.01 6126.89
General Reserve 21.09 21.09
Retained Earnings 24956.93 19484.15
ESOP Outstanding 108.66 68.86

Other Equity (Net) -13.53 -19.29

Total Equity 31,482.64 25,890.08
Total Liabilities & Shareholders' Equity 46,564.50 37,701.41
Balancing 0.0 0.0

Basic Weighted Average Shares 90,217,474 90,164,542

Book value per share 348.96 287.14
I Industries)
2021-2022 2020-2021 2019-2020

10794.08 7627.52 8637.83

2044.55 2076.66 1772.06
2811.73 1730.28 1766.00
5531.21 3397.54 4456.53
13.49 23.97 20.70
393.10 399.07 622.54
17802.7 15950.21 16714.8
13955.33 13495.71 13675.86
3590.15 2201.32 1194.10
10.11 10.75 948.89
12.28 9.59 29.42
234.83 232.84 866.53

44.37 44.37 20.36

969.31 778.63 1484.34
435.49 257.69 531.65
53.95 24.06 43.63
22.22 34.08 48.25
457.65 462.80 841.90
0.00 0.00 18.91

29610.46 24400.73 26857.33

4739.18 4743.46 4959.92

190.63 96.98 96.98
1707.14 1625.92 1616.03
4780.95 4535.85 4278.67
104.64 99.57 96.97
134.21 86.31 66.38
51.67 45.40 42.48
87.53 73.29 71.29
2317.59 1819.86 1308.88
165.06 71.33 112.10
549.21 609.83 547.08
296.04 299.64 303.24
45.25 34.96 41.48
207.92 247.27 152.31
0.00 27.96 50.05
20.73 17.87 29.21
20.73 17.87 29.21
147.53 209.79 139.44
4.87 4.68 2.80
15.27 4.40 3.17
4.13 2.25 124.18
123.26 198.46 9.29
 38.24 29.06 41.48
37.79 28.14 39.93
0.45 0.92 1.55
5659.95 5681.34 5829.23
35270.41 30082.07 32686.56

10973.29 9918.54 14853.39

3313.71 2470.88 3139.51
33.42 33.34 24.20
3347.13 2504.22 3163.71
7626.16 7414.32 11689.68
1821.77 896.29 1385.58
1609.73 658.76 1178.35
0.57 1.15 0.34
2.85 1.93 1.87
25.45 18.05 14.70
183.17 216.40 190.32
329.4 205.13 187.02
63.62 30.27 95.98
265.78 174.86 91.04
0.00 0.00 0.00

55.54 50.53 81.44

146.57 80.60 19.13
13326.57 11421.09 16526.563

206.72 551.73 673.22

0.00 313.54 526.98
206.72 238.19 146.24
0 0 0.00
0.00 0.00 0.00
87.72 91.23 110.70
296.18 282.48 308.50
590.62 925.44 1092.42
13917.19 12346.53 17618.983

180.21 179.71 179.01

21193.91 17578.62 14941.99
28.00 28.00 28.00
6087.46 5973.81 5814.81
21.09 21.09 21.09
14983.13 11440.18 8949.09
74.23 115.54 129.00

-20.90 -22.79 -53.41

21,353.22 17,735.54 15,067.59
35,270.41 30,082.07 32,686.57
 0.0 0.0 0.0

90,735,827 89,725,616 80,969,900

235.33 197.66 186.09
 Statement of Cash Flows (KEI Industries)
Fiscal Year ends March 31, INR Millions 2024-2023 2022-2023
Cash Flow-Operating Activities
Net Income/Starting Line 7812.88 6420.48
Depreciation/Depletion 613.55 570.79
Dividend received -0.06 -0.08
Interest Income -185.98 -145.43
Interest and Other Finance costs 412.46 325.85
ESOS Compensation 102.99 14.66
Provision for Compensation 23.79 81.63
Impairment Allowance 28.53 -26.86
Provision for Warranty 6.18 6.39
Bad Debts Written
Recognition Offat
of Lease 23.27 62.42
Commencement 0 0
Unrealized Forex (Gain/Loss) -1.55 -60.55
Unadjusted Credit balances written off 0 0
Impairment in Investments 0 0
Impairment in Loans Receivable 0 -5.28
Impairment in Accounts Receivable 0 0
Fair Valuation on Financial Assets -0.32 -0.25
AOP 0 -0.01
PPE Written Off 5.37 20.71
Disposal on PPE (Gain / Loss) -0.89 -0.43
Changes in Working Capital
Accounts Receivable, advances and other -1336.2 104.39
Inventories -2404.55 -34.55
Other current Assets -94.06 -228.83
Accounts Payable and other current liabil 3146.32 -190.43
Other Operating Cash Flow
Income taxes paid (net of refunds) -2045.43 -1775.53
Cash from Operating Activities 6106.30 5139.09
Cash Flow-Investing Activities
Capital Expenditures -4004.91 -979.38
Purchase of Fixed Assets -3998.93 -974.82
Purchase/Acquisition of Intangibles -5.98 -4.56
Other Investing Cash Flow Items 478.87 -391.94
Acquisition of Business 0 0
Sale of Business 0 0
Sale of Fixed Assets 4.62 2.85
Sale/Maturity of Investment 265.24 -537.81
Purchase of Investment, Net 0 -12.5
Interest received 208.95 155.43
AOP 0 0.01
Dividend received 0.06 0.08
Other Investing Cash Flow 0 0
Cash from Investing Activities -3526.04 -1371.32
Cash Flow-Financing Activities
Repayment of Bank Loans 0 -201.89
Repayment of Finance Lease 0 0
Repayments (Others) 0 0
Proceeds from Long-term Borrowings 0 0
Proceeds From Finance Lease 0 0
Interest and Other Finance costs -412.46 -325.85
Interest and Financial Charge on Lease Liabili -26.64 -21.21
Intercorporate and Other Demands 0 0
Working Capital Loan Demand - From Banks 375 -2053.89
Working Capital Loan From Banks - Factorin -385.25 294.62
Issue of Share Capital Upon ESOS 11.03 19.58
Issue of Share Capital Upon QIP 0 0
Issue of Shares Expense 0 0
Dividend Paid -280.52 -270.66
Dividend Distribution Tax 0 0
Cash from Financing Activities -718.84 -2559.3
NET (DECREASE) / INCREASE IN CASH AND 1861.42 1208.47
Foreign Exchange Effects/ 0.46 0.27
Net Cash - Beginning Balance 4798.89 3590.15
Net Cash - Ending Balance 6660.77 4798.89
Cash Interest Paid 439.1 347.06
Cash Taxes Paid 2045.43 1775.53
Net capex (in PPE and intangibles) 4009.53 982.23

OCF/PAT 105% 108%

ries)
2021-2022 2020-2021 2019-2020

5077.32 3604.07 3266.67

554.54 578.14 566.89
-0.03 -0.08 -0.02
0.28 -24.53 -132.66
383.40 554.44 1291.51
16.59 67.27 136.12
11.83 -36.52 -27.81
-12.98 40.02 22.88
7.33 -1.44 3.25
51.37 33.48 0.00
0.00 0.00 -11.65
0.00 0.00 0.00
0.00 -0.86 0.00
0.00 0.00 0.01
1.12 0.55 6.98
0.00 0.01 0.00
0.17 -0.60 -0.60
-2.90 0.00 0.00
0.68 0.27 21.80
-0.26 1.01 0.97

-498.01 106.66 -2752.52

-3166.56 1005.87 -1741.46
-120.64 1287.22 19.99
1230.19 -4772.20 145.04

-1247.10 -903.43 -946.36

2286.34 1539.35 -130.97

-597.3 -240.03 -805.3

-597.30 -240.03 -805.30
0.00 0.00 0.00
13.44 993.78 915.61
0.00 0.00 0.00
0.00 0.00 0.00
1.00 9.11 3.00
70.79 943.01 780.93
-80.00 0.00 -1.00
18.72 41.58 132.66
2.90 0.00 0.00
0.03 0.08 0.02
0.00 0.00 0.00
-583.86 753.75 110.31

-190.42 -566.27 -1667.17

-9.57 -14.95 -16.22
0.00 0.00 -606.25
0.00 0.00 1224.79
0.00 0.00 2.94
-383.40 -554.44 -1291.51
-20.53 -18.64 0.00
-407.98 101.78 3.55
1383.04 -333.79 -1386.32
-515.78 201.16 116.76
56.25 78.98 20.27
0.00 0.00 5000.00
0.00 0.00 -130.73
-225.26 -179.71 -228.97
0.00 0.00 -47.06
-313.65 -1285.88 994.08
1388.83 1007.22 973.42
0.00 0.00 0.00
2201.32 1194.10 220.68
3590.15 2201.32 1194.10
403.93 573.08 1291.51
1247.1 903.43 946.36
598.30 249.14 808.30

61% 57% -5%

Key ratios
Financial Ratios Formula 2023-2024 2022-2023 2021-2022 2020-2021
Profitability Ratios
Gross
Gross Margin Profit/Revenue 23.7% 23.3% 24.2% 26.7%

(Operating
profit (EBIT)
+Depreciation
and
Amortization)/
EBITDA Margin Revenue 10.5% 10.4% 10.5% 11.2%
Operating
Profit
Operating Margin (EBIT)/Revenue 9.8% 9.5% 9.5% 9.9%
Net profit after
Net Margin taxes/Revenue 7.1% 6.9% 6.6% 6.4%
Liquidity ratios
(TCA-
Quick Ratio Inventories)/CL 1.65 1.84 1.41 1.47
Current Ratio Current assets/Cu 2.58 2.83 2.22 2.14

(current assets-
current
Net working capital to Total assets liabilities)/Total
Ratio assets 0.49 0.54 0.46 0.43
Working capital cycle

(accounts
receivable/Rev
Accounts Receivable Days enue)*365 68 73 89 118

(Inventory/Cost
of revenue or
cost of
Inventory Days sales)*365 67 64 76 74
(Inventory/Cost
of goods
Inventory Days sold)*365 79 76 91 91

(Accounts
Payable/Cost of
Accounts Payable Days Sales)*365 50 44 54 72

(Accounts
Payable/Cost of
Goods
Accounts Payable Days sold)*365 59 52 64 88

(Accounts
Receivable
days+Inventory
Cash Conversion Cycle/Working Days)-Accounts
capital cycle (Days) Payable days 85 94 111 120
 (Accounts
Receivable
days+Inventory
Cash Conversion Cycle/Working Days)-Accounts
capital cycle (Days) Payable days 88 98 116 120
Leverage Ratios
Total
Assets/Equity Assets/Equity 1.48 1.46 1.65 1.70
Debt/Equity

Total Debt
(Long term
debt+short
term
debt+current
portion of long
term
debt)/Equity 0.05 0.06 0.17 0.17

Long term
Debt/(Total
Long-term Debt to Total Capital Debt+Equity) 0.01 0.01 0.01 0.03

(Total Debt -
Cash and cash
equivalent) /
Net debt/ EBITDA EBITDA (0.59) (0.44) (0.01) 0.18

EBIT/cash
Times interest earned/Interest interest
coverage Ratio payments 18 19 13 7

EBIT/Interest
Times interest earned/Interest expense (P&L
coverage Ratio A/c) 18 19 13 7

EBIT/(Int
exp+ST debt
repayable in 12
Debt Service Coverage Ratio months) 4 4 1 1
Efficiency Ratios
Sales/Fixed
assets
(Property plant
and
Fixed Asset Turnover equipment) 15.0 14.3 12.1 8.8
Sales/Total
Total Assets Turnover assets 1.7 1.8 1.6 1.4
Sales/accounts
Accounts Receivable Turnover receivable 5.34 4.98 4.10 3.10
Sales/
Inventory Turnover Inventory 6.04 6.27 5.31 5.48
Cost of
Inventory Turnover sales/Inventory 5.45 5.67 4.80 4.94
Valuation Ratios
Price/Earnings
P/E (eps) 61.91 54.35 36.73 36.59
P/B Price/Book val 11.43 10.02 6.47 5.56
EV/EBITDA (Market cap+Ne 41.55 35.77 23.04 21.17
EV/Sales (Market cap+Ne 4.4 3.7 2.4 2.4
P/CF Price/(OCF/sha 58.9 50.5 60.4 64.1
PEG P/E divided by 2.86 1.96 0.97 -7.87
ROE PAT/Shareholde 18% 18% 18% 15%
ROCE EBIT/(Sharehol 24% 24% 22% 20%
ROIC EBIT*(1-tax rat 15% 15% 16% 15%
ROA net profit after 12% 13% 11% 9%

Price on 1st November all years 3987.6 2877.38 1522.80 1099.20

EPS growth (y-o-y) 22% 28% 38% -5%

Growth ratios
Revenue growth (y-o-y) 17.3% 20.6% 37.0% -14.4%
EBIT growth 20% 21% 32% -9%
PAT Growth 22% 27% 40% 6%
2019-2020

27.5%

10.4%

9.3%

5.2%

1.10
1.63

0.32

102

71

89

96

121

77
 71

2.17

0.25

0.04

0.52

9.8

1.5

3.57

5.65

5.13
13.36
2.26
7.21
0.7
-260.3

17%
24%
20%
8%

420.99
DuPont Ratio Analysis

DUPONT Ratios Formulae 2023-2024 2022-2023 2021-2022

Operating Profit Margin (A) EBIT/Sales 0.10 0.10 0.09
Capital Turnover (B) Sales/Invested capital (Investe 2.55 2.65 2.66
Financial Cost Ratio (C) EBT/EBIT 0.94 0.95 0.93
Financial Structure Ratio (D) Invested Capital/ Equity 1.01 1.01 1.01
Tax Effect Ratio (E) PAT/EBT 0.78 0.76 0.75
ROE (A x B x C x D x E) 0.18 0.18 0.18
ROE (PAT/Shareholder fund) 0.18 0.18 0.18

Three-Part DuPont Ratio Analysis

DUPONT Ratios Formulae 2023-2024 2022-2023 2021-2022

Profit Margin (A) Net Income/Revenue 7% 7% 7%
Asset Turnover (B) Revenue/Assets 175% 184% 163%
Financial Leverage (C) Assets/Equity 148% 146% 165%
ROE (A x B x C) 18% 18% 18%
2020-2021 2019-2020
0.10 0.09
2.29 3.10
0.86 0.71
1.03 1.04
0.76 0.79
0.15 0.17
0.15 0.17

2020-2021 2019-2020
6% 5%
140% 150%
170% 217%
15% 17%
 2023-2024
Revenue
Operating Revenue 17.3%
Other Income 54%
Total 17.5%
Cost of Revenue
Cost of materials consumed 19%
Purchases of Stock-in-Trade 182%

Changes in inventories of finished goods, Stock-in-Trade, work-in- -1272%

progress and intermediates
Excise duty -13%
Employee benefits expense 15%
Depreciation and amortization expense 7%
Other expenses-Operating -100%

Total Operating Expense (including Cost of revenue) 17%

Operating Income 22%
Interest Inc.(Exp.) (Net) 27%
Other expenses/(Income)- non-operating 14%
Exceptional Expense (Income)
Net Income Before Taxes 22%
Provision for Income Taxes 22%
Net Income After Taxes 22%

Minority Interest (not available as this is standalone financial

statements)

Equity In Affiliates (not available as this is standalone financial

statements)
Net Income 22%
2022-2023 2021-2022020-2021019-2020

21% 37% -14%

114% -26% 22%
21% 37% -14%

14% 63% -20%

74% -92% -8%

-102% -388% -183%

-4% -14% -7%

16% 8% -19%
3% -4% 2%
14% 26% -24%

21% 37% -15%

24% 29% -8%
-14% -30% -56%
33% -26% 6%

26% 41% 10%

25% 45% 27%
27% 40% 6%

27% 40% 6%
Commonsize Income Statement
Fiscal Year Ended March 31 (Data in INR
million except per share data) 2023-2024 2022-2023 2021-2022
Revenue
Operating Revenue
Other Income
Total Revenue 100.00 100.00 100.00
Cost of Revenue
Cost of materials consumed
Purchases of Stock-in-Trade
Changes in inventories of finished goods,
Stock-in-Trade, work-in- progress and
intermediates
Excise duty
Employee benefits expense
Depreciation and amortization expense
Other expenses-Operating

Total Operating Expense (including Cost of

revenue)
Operating Income
Interest Inc.(Exp.) (Net)
Other expenses/(Income)- non-operating
Exceptional Expense (Income)
Net Income Before Taxes
Provision for Income Taxes
Net Income After Taxes
Minority Interest (not available as this is
standalone financial statements)
Equity In Affiliates (not available as this is
standalone financial statements)
Net Income
2020-2021 2019-2020

100.00 100.00
Common Size Balance Sheet
2023-2024 2022-2023 2021-2022 2020-2021
FY ends-March 31, (INR Millions)
Assets
Cash and Short Term Investments

Cash & Equivalents

Short Term Investments
Accounts Receivable
Accounts Receivable - Trade, Gross
Provision for Doubtful Accounts
Notes Receivable - Short Term
Receivables - Other
Total Inventory
Inventories - Finished Goods
Inventories - Work In Progress
Inventories - Raw Materials
Inventories - Other
Prepaid Expenses
Other Current Assets, Total
Current Investments (investments with maturity of less than 12 months in debt mutual funds)
Restricted Cash - Current
Discountinued Operations-Current Asset
Other Current Assets
Total Current Assets
Property/Plant/Equipment (Net)
Buildings - Gross
Land/Improvements - Gross
Plant, Machinery/Equipment - Gross
Leases and Right to use assets- Gross
Other fixed assets (Furniture and Fixtures, vehicles, Railway sidings, Investment property, etc)- Gross
Accumulated Depreciation, Total
Capital work in Progress (construction in Progress) - Gross

Goodwill, Net
Intangibles, Net
Intangibles - Gross
Accumulated Intangible Amortization
Intangibles capital work in progress
Long Term Investments (Financial Assets)
LT Investment - Affiliate Companies (Subsidiaries, Associates, JVs..)
LT Investments - Other
Note Receivable - Long Term
Other Long Term Assets, Total
Deferred Charges
 Defered Income Tax - Long Term Asset
Restricted Cash - Long Term
Other Long Term Assets
Total Assets
Liabilities and Equities
Liabilities
Accounts Payable
Accrued Expenses
Notes Payable
Current Port. of LT Debt/Capital Leases
Short term debt
Other Current liabilities
Dividends Payable
Customer Advances
Income Taxes Payable
Provisions and other Payables
Discontinued Operations - Curr Liability
Other Current Liabilities
Total Current Liabilities
Total Long Term Debt
Long Term Debt
Capital Lease Obligations
Deferred Income Tax
Minority Interest
Provisions and other Payables
Other long-term liabilities
Total Liabilities
Shareholders Equity
Common Stock, Total
Additional Paid-In Capital
Retained Earnings (Accumulated Deficit)
General Reserve
Securities Premium
Other reserves
Unrealized Gain (Loss)
Other Equity, Total
Translation Adjustment
Other Equity
Minimum Pension Liability Adjustment
Other Comprehensive Income
Total Equity
Total Liabilities & Shareholders' Equity
2019-2020
 Disaggregation of Revenue
Product Type
Year Cables and Wires Stainless Steel Wires EPC Projects
23/24 69508.1 2206.37 11997.95
22/23 60762.11 2533.75 7262.27
21/22 48200.69 2241.61 8749.81
20/21 31468.36 1407.71 9674.12
19/20 34022.67 1365.64 13922.24

Geographical Markets (India)

Year Cables and Wires Stainless Steel Wires EPC Projects
23/24 61922.98 1209.78 8990.27
22/23 55563 1313.46 6166.01
21/22 44145.7 1155.8 7285.38
20/21 26585.32 854.69 8871.1
19/20 26061.86 871.14 13386.96

Geographical Markets (Outside India)

Year Cables and Wires Stainless Steel Wires EPC Projects
23/24 7585.12 996.59 3007.68
22/23 5199.11 1220.29 1096.26
21/22 4054.99 1085.81 1464.43
20/21 4883.04 553.02 803.02
19/20 7960.81 494.5 535.28
Type
Inter-Segment EleminatioTotal Revenue
-2671.62 81040.8
-1476.39 69081.74
-1963.51 57228.6
-761.33 41788.86
-462.88 48847.67

arkets (India)
Inter-Segment EleminatioTotal Revenue
-2088.35 70034.68
-1088.83 61953.64
-1208.66 51378.22
-605.1 35706.01
-93.75 40226.21

s (Outside India)
Inter-Segment EleminatioTotal Revenue
-583.27 11006.12
-387.56 7128.1
-754.85 5850.38
-156.32 6082.76
-369.13 8621.46