cv of bharti airtel
DESCRIPTION
making valuation using ddm,fcfe,fcffTRANSCRIPT
Year PAT EPS DPS PAYOUT RATIO b(RETENTION RATIOMar-05 1210.67 6.53 0 0 1Mar-06 2012.08 10.62 0 0 1Mar-07 4033.23 21.27 0 0 1Mar-08 6244.19 32.9 0 0 1Mar-09 7,743.84 40.79 20 0.490316253984 0.509683746016181
EXPECTED GROWEPS DPS PAYOUT COST OF EQUITY2009 22% 40.79 20 0.49 0.05482010 22% 49.7638 9.8 0.49 0.05482011 22% 60.71184 4.802 0.49 0.05482012 22% 74.06844 2.35298 0.49 0.05482013 22% 90.3635 1.15296 0.49 0.0548
2014 19% 107.5326 54.84161 0.51 0.05456522015 18% 126.8884 68.51975 0.54 0.05404962016 16% 147.1906 83.89862 0.57 0.0530184
2017 4% 76.81 46.086 0.6 0.052245
TERMINAL 4140.024 THE PRESENT VALUE OF DIVIDEND IN HIGH GROWTH PHASEP V OF T P 2715.409 THE PRESENT VALUE OF DIVIDEND IN TRANSITION PHASE
THE PRESENT VALUE OF DIVIDEND IN STABLE PHASETHE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANSITIONVALUE OF BHARTI AIRTEL STOCK
1 2 3 4 5
0
5
10
15
20
25
30
35
40
45
eps growth
Column C
B V OF equity ROE=PAT/BV OF EQUI GROWTH4,533.60 0.267043850361743 0.2670447,345.56 0.273917849694237 0.273918
11,443.27 0.352454324681669 0.35245420,241.49 0.308484701472075 0.30848527,643.97 0.28012763723879 0.142777
0.268935
CUMULATED COST OF EQUITY P V OF DPS1.0548 18.960940462647
1.11260304 8.808172949087041.0179 4.71755575203851
1.013427 2.32180512261861.0107 1.14075413080044
SUM 35.9492284171915
1.30543074826798 42.01035269120881.37598928021187 49.79671637193661.44894147987014 57.9033907427921
SUM 149.710459805938
1.52464142748595 30.2274352311108
THE PRESENT VALUE OF DIVIDEND IN HIGH GROWTH PHASE 35.95THE PRESENT VALUE OF DIVIDEND IN TRANSITION PHASE 149.71THE PRESENT VALUE OF DIVIDEND IN STABLE PHASE 30.28THE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANSITION 2715.41VALUE OF BHARTI AIRTEL STOCK 2931.35
1 2 3 4 5
0
5
10
15
20
25
30
35
40
45
eps growth
Column C
EPS GROWTH IN EPS6.53
10.62 0.62633996937221.27 1.002824858757
32.9 0.54677950164640.79 0.239817629179
average ep0.603940489739
Rf 0.0458Rm-Rf 0.2578beta 0.035ke 0.054823
GROSS BLOCKnet change in capex deprecation deprecation current asset cash 05----m 13,240.63 1,019.36 922.28 174.9606--ma 17,951.74 4,711.11 1,432.34 1,432.34 1,295.72 201.8107--ma 26,509.93 8,558.19 2,353.30 2,353.30 1,705.44 239.1108---m 28,115.65 1,605.72 3,166.58 3,166.58 3,034.18 200.8609--ma 37,266.70 9,151.05 3,206.28 3,206.28 2,765.64 153.44
EXPECTED GRPAT CAPEX-DEPRECHANGE IN ND/E 1-D/D+E2009 22% 7743.84 5,944.77 -1,153.53 0.56 0.662010 22% 9447.4848 7252.6194 -1407.3066 0.56 0.662011 22% 11525.931456 8848.195668 -1716.914052 0.56 0.662012 22% 14061.63637632 10794.798715 -2094.635143 0.56 0.662013 22% 17155.1963791104 13169.654432 -2555.454875 0.56 0.66
2014 19% 24905.9141031925 19119.704305 -3710.009388 0.58 0.3670892015 18% 29388.9786417671 22561.25108 -4377.811077 0.59 0.3710692016 16% 34091.2152244499 26171.051252 -5078.26085 0.62 0.382716
2017 4% 35454.8638334279 27217.893302 -5281.391284 0.7 0.411765
1 2 3 40.00
1,000.00
2,000.00
3,000.00
4,000.00
5,000.00
6,000.00
7,000.00
8,000.00
9,000.00
10,000.00
growth in capex
Column C
non cash current assecurrent liabilities loan noncash cl total debt747.32 4,458.80 1,354.85 3,103.95 4,994.29
1093.91 6,735.36 1,937.54 4,797.82 4,796.291466.33 9,809.83 3,160.02 6,649.81 5,310.812833.32 12,400.38 5,103.13 7,297.25 6,570.34
2612.2 13,832.49 5,602.83 8,229.66 7,713.65
REINVESTMENT AMREINVESTMENT RATE ROE FCFE COST OF EQUI3162.2184 0.408352755222215 0.53875 4581.6216 0.0548
3857.906448 0.408352755222215 0.53875 5589.5784 0.05484706.64586656 0.408352755222215 0.53875 6819.2856 0.0548
5742.1079572032 0.408352755222215 0.53875 8319.5284 0.05487005.3717077879 0.408352755222215 0.53875 10149.825 0.0548
5656.72345062578 0.227123703518302 0.836549 19249.191 0.05430746747.31421469806 0.229586550010584 0.784018 22641.664 0.05379188072.54941337648 0.23679265641393 0.675697 26018.666 0.0532762
9032.67730185929 0.254765533561097 0.157007 26422.187 0.0519872
terminal value 2292368.02529626 THE PRESENT VALUE OF FCFE IN HIGH GROWTH PHASEpresent value 2179083.57183078 THE PRESENT VALUE OF FCFE IN TRANSITION PHASE
THE PRESENT VALUE OF FCFE IN STABLE PHASETHE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANSITIONVALUE OF BHARTI AIRTEL STOCK
1 2 3 40.00
1,000.00
2,000.00
3,000.00
4,000.00
5,000.00
6,000.00
7,000.00
8,000.00
9,000.00
10,000.00
growth in capex
Column C
1 2 3 4 50
0.05
0.1
0.15
0.2
0.25
0.3
0.35
0.4
growth in roe
Column U
net debt W/C change w/c equity reinv net income-2,356.63 1,210.67
-198.00 -3,703.91 -1,347.28 2,129.49 2,012.08514.52 -5,183.48 -1,479.57 4,210.80 4,033.23
1,259.53 -4,463.93 719.55 -2,100.84 6,244.191,143.31 -5,617.46 -1,153.53 3,647.93 7,743.84
CUMULATED COST OF EQUITY PRESENT VALUE1.0548 4343.5927189989
1.11260304 5023.87477927441.173573686592 5810.7008254785
1.23788552461724 6720.75749628731.30572165136627 7773.3448478104
29672.270667849
1.37663199937567 13982.8150597231.45068351255969 15607.5837569271.52797041751152 17028.252322743
46618.651139394
1.60740532120078 16437.787148689
THE PRESENT VALUE OF FCFE IN HIGH GROWTH PHASE 29672.271THE PRESENT VALUE OF FCFE IN TRANSITION PHASE 46618.651THE PRESENT VALUE OF FCFE IN STABLE PHASE 16437.787THE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANSITION 2179083.6VALUE OF BHARTI AIRTEL STOCK 2271812.3
1 2 3 4 50
0.05
0.1
0.15
0.2
0.25
0.3
0.35
0.4
growth in roe
Column U
reinvestmenpat bv of equity roe growth D/E D/D+E 1-D/D+E1,210.67 4,533.60 0.267044 1.101617 0.524176 0.475824
1.058353 2,012.08 7,345.56 0.273918 0.289902 0.652951 0.395021 0.6049791.044027 4,033.23 11,443.27 0.352454 0.367972 0.464099 0.316986 0.683014
-0.336447 6,244.19 20,241.49 0.308485 -0.103789 0.324598 0.245054 0.7549460.471075 7,743.84 27,643.97 0.280128 0.131961 0.279036 0.218161 0.781839
average 0.171511 AVERAGE 0.56446 0.6601217.15114
INTERESTGROWTH IPBT TAX05----mar 317 -207.98 353.606--mar 236.81 -0.252965 2,268.97 273.6807--mar 282.07 0.191124 4,592.99 566.7908---mar 393.43 0.394796 6,940.37 632.4309--mar 434.16 0.103525 8,134.66 321.78
0.10912
EXPECTEDebit CAPEX-DECHANGE I D/E 1-D/D+E2009 20% 7743.84 5,944.77 -1,153.53 0.56 0.662010 20% 9292.608 7133.724 -1384.236 0.56 0.662011 20% 11151.13 8560.469 -1661.083 0.56 0.662012 20% 13381.36 10272.56 -1993.3 0.56 0.662013 20% 16057.63 12327.08 -2391.96 0.56 0.66
2014 18% 24696.62 18959.03 -3678.833 0.58 0.3670892015 16% 28648.08 22178.86 -4267.446 0.59 0.3710692016 15% 32945.29 25505.69 -4907.563 0.62 0.382716
2017 3% 33933.65 26270.86 -5054.79 0.7 0.411765
TAX RATE total debt growth in debt total equity growth in equity-1.70016347725743 4,994.29 4,533.600.120618606680564 4,796.29 -0.039645 7,345.56 0.6202490.123403273249016 5,310.81 0.107275 11,443.27 0.557849
0.0911233839118087 6,570.34 0.237163 20,241.49 0.7688550.0395566624788252 7,713.65 0.174011 27,643.97 0.3657080.0936754815800537 0.578165
REINVESTMENT AMOUNT REINVESTMENT RATE ROC FCFE interest tax rate3162.2184 0.408352755222215 0.489773 4581.622 434.16 0.039557
3794.66208 0.408352755222215 0.489773 5497.946 520.992 0.0439084553.594496 0.408352755222215 0.489773 6597.535 625.1904 0.048738
5464.3133952 0.408352755222215 0.489773 7917.042 750.2285 0.0540996557.17607424 0.408352755222215 0.489773 9500.451 900.2742 0.06005
5609.18795944404 0.227123703518302 0.79252 19087.43 1062.324 0.0672566646.37259862098 0.232000629496087 0.689653 22001.71 1242.919 0.0759997883.23208189856 0.239282507383598 0.626874 25062.06 1429.356 0.086639
8736.02726404095 0.257444367526566 0.11653 25197.62 1543.705 0.102234
growth in equity
interest(1-t net debt is FCFF Ke total debt Kd total equity D+E Ko416.9861 1,143.31 3,855.30 0.0548 7,713.65 0.056285 27,643.97 35,357.62 0.055124498.1163 1371.972 4,624.09 0.0548 9,085.62 0.057342 41465.96 50,551.58 0.055257
594.72 1646.366 5,545.89 0.0548 10,731.99 0.058255 62198.93 72,930.92 0.055308709.6419 1975.64 6,651.04 0.0548 12,707.63 0.059038 93298.4 106,006.03 0.055308846.2129 2370.768 7,975.90 0.0548 15,078.40 0.059706 139947.6 155,025.99 0.055277
990.8761 2323.352 17754.96 0.054307 17,401.75 0.061047 195926.6 213,328.39 0.0548571148.458 2230.418 20919.75 0.053792 2,230.42 0.557258 262541.7 264,772.11 0.0580331305.518 2096.593 24270.99 0.053276 2,096.59 0.681752 328177.1 330,273.71 0.057266
1385.886 1677.274 24906.23 0.051987 3,773.87 0.409051 360994.8 364,768.70 0.055681
TERMINAL VALUE 1651801 THE PRESENT VALUE OF FCFF IN HIGH GROWTH PHASEPRESENT VALUE 1564679 THE PRESENT VALUE OF FCFF IN TRANSITION PHASE
THE PRESENT VALUE OF FCFF IN STABLE PHASETHE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANSVALUE OF BHARTI AIRTEL STOCK
CUMULATEDpresent value of FCFF1.055124 3653.8811.113567 4152.502
1.17527 4718.8211.240272 5362.5691.308677 6094.627
SUM 23982.4
1.380467 12861.561.460579 14322.911.544221 15717.3
SUM 42901.77
1.630205 15277.98
THE PRESENT VALUE OF FCFF IN HIGH GROWTH PHASE 23982.4THE PRESENT VALUE OF FCFF IN TRANSITION PHASE 42901.77THE PRESENT VALUE OF FCFF IN STABLE PHASE 15277.98THE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANS 1564679VALUE OF BHARTI AIRTEL STOCK 1646841
EXPECTEDEPS DPS PAYOUT COST OF EQUITY CUMULATED COST OF EQUITY2009 22% 40.79 20 0.49 0.303 1.3032010 22% 49.7638 9.8 0.49 0.303 1.69782011 22% 60.71184 4.802 0.49 0.303 1.092232012 22% 74.06844 2.35298 0.49 0.303 1.06842013 22% 90.3635 1.15296 0.49 0.303 1.05435
SUM
2014 19% 107.5326 54.84161 0.51 0.293288 1.3817552015 18% 126.8884 68.51975 0.54 0.288132 1.779882831662016 16% 147.1906 83.89862 0.57 0.282976 2.28354695583182
SUM
2017 10% 161.9096 97.14578 0.6 0.272664 2.906186786544
TERMINAL 618.8918 THE PRESENT VALUE OF DIVIDEND IN HIGH GROWTH PHASEP V OF T P 212.9567 THE PRESENT VALUE OF DIVIDEND IN TRANSITION PHASE
THE PRESENT VALUE OF DIVIDEND IN STABLE PHASETHE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANSITIONVALUE OF BHARTI AIRTEL STOCK
P V OF DPS Rf 0.045815.34919 Rm-Rf 0.25785.772176 beta(marke 1
4.39651 ke 0.30362.20234
1.09352728.81375
39.6898238.4967736.74049114.9271
33.42723
THE PRESENT VALUE OF DIVIDEND IN HIGH GROWTH PHASE 28.81375THE PRESENT VALUE OF DIVIDEND IN TRANSITION PHASE 114.9271THE PRESENT VALUE OF DIVIDEND IN STABLE PHASE 33.42723THE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANSITION 212.9567
390.1247
YEAR EXPECTED G.R. PAT ROE R.R. FCFE2009 22% 7743.84 0.53874988520717 0.4084 4581.6222010 22% 9447.4848 0.53874988520717 0.4084 5589.5782011 22% 11525.931456 0.53874988520717 0.4084 6819.2862012 22% 14061.636376 0.53874988520717 0.4084 8319.5282013 22% 17155.196379 0.53874988520717 0.4084 10149.82
2014 19.00% 24905.914103 0.836548528650995 0.2271 19249.192015 18.00% 29388.978642 0.78401805328623 0.2296 22641.662016 16.00% 34091.215224 0.675696630221121 0.2368 26018.67
2017 10% 37500.336747 0.157007109403232 0.2548 27946.54
terminal value 178040.57471 THE PRESENT VALUE OF COMPANY IN HIGH GROWTH PHASEpresent value 61262.605533 THE PRESENT VALUE OF COMPANY IN TRANSITION PHASE
THE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANSITION PTHE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANSITIONVALUE OF BHARTI AIRTEL STOCK
0.00
1,000.00
2,000.00
3,000.00
4,000.00
5,000.00
6,000.00
7,000.00
8,000.00
9,000.00
pat growth
1,210.67
2,012.08
4,033.23
6,244.19
7,743.84
year
COST OF EQUITY CUMULATED COST OF EQUITY PRESENT VALUE0.303 1.303 3516.209978296850.303 1.6978 3292.247821887150.303 1.09223 6243.452010510610.303 1.0684 7786.904173639840.303 1.05435 9626.61798389766
sum 30465.4319682321
0.293288 1.381755 13930.97231605220.288132 1.77988283166 12720.87354534030.282976 2.28354695583182 11393.970132572
sum 38045.8159939645
0.272664 2.906186786544 9616.22411066188
THE PRESENT VALUE OF COMPANY IN HIGH GROWTH PHASE 30465.4319682321THE PRESENT VALUE OF COMPANY IN TRANSITION PHASE 38045.8159939645THE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANSITION P 9616.22411066188THE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANSITION 61262.6055328735VALUE OF BHARTI AIRTEL STOCK 139390.077605732
1 2 3 4 50.00
5,000.00
10,000.00
15,000.00
20,000.00
25,000.00
30,000.00
growth in equity
Column P
1 2 3 4 50.00
5,000.00
10,000.00
15,000.00
20,000.00
25,000.00
30,000.00
growth in equity
Column P
year EXPECTED G.REBIT(1-T) BV OF DEBT BV OF EQUITY ROC2009 20% 8747.64 7713.65 27643.97 0.24740466132010 20% 10497.168 7867.923 35937.161 0.23963355492011 20% 12596.6016 8025.28146 46718.3093 0.23010185172012 20% 15115.92192 8185.7870892 60733.80209 0.21932693012013 20% 18139.106304 8349.502830984 78953.942717 0.2077707952
2014 18.00% 21404.14543872 8432.9978592938 106587.82266795 0.18608931272015 16.00% 24828.808708915 8441.4308571531 140695.92592169 0.16648282662016 15.00% 28553.130015252 8466.7551497246 177276.86666133 0.1537233405
2017 9% 31122.911716625 8509.0889254732 216277.77732683 0.1384552053
1 2 3 4 5
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
ebit(1-t) growth
Column I
R.R. FCFF COST OF EQUITY COST OF DEBT COST OF CAPITAL0.808392 1676.116 0.303 0.056284638271117 0.2491763560443270.834608 1736.151 0.303 0.057342469233257 0.258876935735522
0.86918 1647.883 0.303 0.058254852381316 0.2671209378423830.911881 1332.004 0.303 0.05903764851135 0.2740238570651640.962599 678.4172 0.303 0.059706230964533 0.279731937662118
0.967277 700.3977 0.293288 0.06104694368298 0.2762607494397620.96106 966.8316 0.288132 0.557258070418168 0.303364998387259
0.975779 691.5867 0.282976 0.681751894660525 0.301153409414023
0.65003 10892.09 0.272664 0.409051136796315 0.277826802856942
terminal valuepresent value
THE PRESENT VALUE OF COMPANY IN HIGH GROWTH PHASETHE PRESENT VALUE OF COMPANY IN TRANSITION PHASETHE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANSITION PHASETHE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANSITIONVALUE OF BHARTI AIRTEL STOCK
1 2 3 4 50.00
1,000.00
2,000.00
3,000.00
4,000.00
5,000.00
6,000.00
7,000.00
8,000.00
9,000.00
growth in debt
Column R
CUMULATED (Ko) present value1.24917635604433 1341.777
1.58457744 1095.6562.03448363991844 809.97632.63457303322495 505.58633.43237747617959 197.6523
sum 3950.647
4.38060864859969 159.88595.70953198252092 169.33647.42897700285162 93.09313
sum 422.3155
9.49294593311441 1147.388
2408679.689951452199850.11809117
THE PRESENT VALUE OF COMPANY IN HIGH GROWTH PHASE 3950.647THE PRESENT VALUE OF COMPANY IN TRANSITION PHASE 422.3155THE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANSITION PHASE 1147.388THE PRESENT VALUE OF TERMINAL PRICE AT END OF TRANSITION 2199850VALUE OF BHARTI AIRTEL STOCK 2205370
1 2 3 4 50.00
1,000.00
2,000.00
3,000.00
4,000.00
5,000.00
6,000.00
7,000.00
8,000.00
9,000.00
growth in debt
Column R
30 Days Index ReturnsYear B S E 100 Index TRm
Feb-02 7.96 7.96Mar-02 -4.04 -8.08Apr-02 -2.6 -7.8
May-02 -4.48 -17.92Jun-02 2.39 11.95Jul-02 -9.9 -59.4
Aug-02 4.93 34.51Sep-02 -6.75 -54Oct-02 -0.27 -2.43Nov-02 10.33 103.3Dec-02 4.43 48.73Jan-03 -4.28 -51.36Feb-03 1.83 23.79Mar-03 -7.86 -110.04Apr-03 -2.03 -30.45
May-03 11.64 186.24Jun-03 10.84 184.28Jul-03 4.1 73.8
Aug-03 17.68 335.92Sep-03 3.83 76.6Oct-03 7.24 152.04Nov-03 8.32 183.04Dec-03 16.13 370.99Jan-04 -4.19 -100.56Feb-04 -4.38 -109.5Mar-04 -1.65 -42.9Apr-04 1.98 53.46
May-04 -16.52 -462.56Jun-04 1.42 41.18Jul-04 7.58 227.4
Aug-04 1.23 38.13Sep-04 7.49 239.68Oct-04 1.9 62.7Nov-04 10.3 350.2Dec-04 7 245Jan-05 -1.64 -59.04Feb-05 4.63 171.31Mar-05 -2.79 -106.02Apr-05 -3.23 -125.97
May-05 8.7 348Jun-05 5.51 225.91Jul-05 7.96 334.32
Aug-05 2.31 99.33Sep-05 9.12 401.28Oct-05 -8.91 -400.95Nov-05 11.79 542.34Dec-05 6.53 306.91Jan-06 5.49 263.52Feb-06 4.16 203.84Mar-06 6.89 344.5Apr-06 6.01 306.51
May-06 -13.86 -720.72
Jun-06 -0.24 -12.72Jul-06 0.75 40.5
Aug-06 9.5 522.5Sep-06 6.18 346.08Oct-06 4.35 247.95Nov-06 4.96 287.68Dec-06 1.14 67.26Jan-07 2.34 140.4Feb-07 -9.52 -580.72Mar-07 0.92 57.04Apr-07 6.77 426.51
May-07 6.2 396.8Jun-07 2.83 183.95Jul-07 5.24 345.84
Aug-07 2.39 160.13Sep-07 16.65 1132.2Oct-07 15.09 1041.21Nov-07 -0.07 -4.9Dec-07 7.41 526.11Jan-08 -15.76 -1134.72Feb-08 -1.11 -81.03Mar-08 -17.26 -1277.24Apr-08 11.74 880.5
May-08 -5.61 -426.36Jun-08 -19.04 -1466.08Jul-08 10.92 851.76
Aug-08 2.1 165.9Sep-08 -12.2 -976Oct-08 -26.9 -2178.9Nov-08 -0.4 -32.8Dec-08 11.15 925.45Jan-09 -3.96 -332.64Feb-09 -4.32 -367.2Mar-09 9.44 811.84
1.76686046511628ANNUAL RETURN
21.2023255813953
30 Days Index Returns 30 days Avg. Returns over a PeriodB S E 100 Index TRm Bharti Airtel Ltd.
7.96 1 -0.78-4.04 0 -0.56
-2.6 0 -0.39-4.48 0 -0.352.39 1 0.29-9.9 0 -0.494.93 1 0.2
-6.75 0 -0.14
-0.27 0 -110.33 1 -0.19
4.43 1 -0.38-4.28 0 1.061.83 1 -0.31
-7.86 0 0.26-2.03 0 0.9611.64 1 0.6210.84 1 0.12
4.1 1 1.2317.68 1 2.01
3.83 1 0.717.24 1 0.818.32 1 -0.05
16.13 1 1.2-4.19 0 1.31-4.38 0 0.14-1.65 0 -0.211.98 1 0.51
-16.52 0 -0.871.42 1 -0.027.58 1 0.531.23 1 -0.357.49 1 0.22
1.9 1 0.5710.3 1 0.5
7 1 0.77-1.64 0 0.414.63 1 0.13
-2.79 0 -0.34-3.23 0 0.12
8.7 1 0.375.51 1 0.367.96 1 0.752.31 1 0.489.12 1 0.5
-8.91 0 -0.3411.79 1 0.52
6.53 1 -0.145.49 1 0.154.16 1 0.096.89 1 0.456.01 1 -0.09
-13.86 0 -0.45-0.24 0 0.110.75 1 0.19
9.5 1 0.256.18 1 0.584.35 1 0.634.96 1 0.81.14 1 0.082.34 1 0.61
-9.52 0 0.080.92 1 0.31
6.77 1 0.336.2 1 0.21
2.83 1 0.035.24 0 0.372.39 1 0.12
16.65 1 0.3315.09 1 0.38-0.07 0 -0.277.41 1 0.36
-15.76 0 -0.46-1.11 0 -0.12
-17.26 0 0.0511.74 1 0.47-5.61 0 -0.1
-19.04 0 -0.8910.92 1 0.6
2.1 1 0.18-12.2 0 -0.27-26.9 0 -0.85
-0.4 0 0.5711.15 1 0.51-3.96 0 -0.55-4.32 0 -0.119.44 1 -0.05
beta of bharti airtel
Coefficients Standard ErrorIntercept 0.116891507794703 0.0487155397682873X Variable 1 0.0350597586683487 0.0057241114050321
30 days Avg. Returns o timeBharti Airtel Ltd.
-0.78 1 SUMMARY OUTPUT-0.56 2-0.39 3 Regression Statistics-0.35 4 Multiple R 0.5556310.29 5 R Square 0.308726
-0.49 6 Adjusted R 0.3004960.2 7 Standard E 0.441926
-0.14 8 Observatio 86-1 9
-0.19 10 ANOVA-0.38 11 df SS MS1.06 12 Regression 1 7.326581 7.326581
-0.31 13 Residual 84 16.4051 0.1952990.26 14 Total 85 23.731680.96 150.62 16 CoefficientsStandard Error t Stat0.12 17 Intercept 0.116892 0.048716 2.3994711.23 18 X Variable 0.03506 0.005724 6.1249262.01 190.71 200.81 21
-0.05 221.2 23
1.31 240.14 25
-0.21 260.51 27
-0.87 28-0.02 290.53 30
-0.35 310.22 320.57 33
0.5 340.77 350.41 360.13 37
-0.34 380.12 390.37 400.36 410.75 420.48 43
0.5 44-0.34 450.52 46
-0.14 470.15 48 SUMMARY OUTPUT0.09 490.45 50 Regression Statistics
-0.09 51 Multiple R 0.557587-0.45 52 R Square 0.310904
0.11 53 Adjusted R 0.2942990.19 54 Standard E 0.443880.25 55 Observatio 860.58 560.63 57 ANOVA
0.8 58 df SS MS F0.08 59 Regression 2 7.378271 3.689135 18.723810.61 60 Residual 83 16.35341 0.1970290.08 61 Total 85 23.731680.31 620.33 63 CoefficientsStandard Error t Stat P-value0.21 64 Intercept 0.112588 0.049647 2.267768 0.0259410.03 65 X Variable 0.041082 0.013088 3.138949 0.0023480.37 66 X Variable -0.000113 0.000221 -0.512198 0.6098730.12 670.33 680.38 69
-0.27 70 SUMMARY OUTPUT0.36 71
-0.46 72 Regression Statistics-0.12 73 Multiple R 0.5575870.05 74 R Square 0.3109040.47 75 Adjusted R 0.294299-0.1 76 Standard E 0.44388
-0.89 77 Observatio 860.6 78
0.18 79 ANOVA-0.27 80 df SS MS F-0.85 81 Regression 2 7.378271 3.689135 18.723810.57 82 Residual 83 16.35341 0.1970290.51 83 Total 85 23.73168
-0.55 84-0.11 85 CoefficientsStandard Error t Stat P-value-0.05 86 Intercept 0.112588 0.049647 2.267768 0.025941
X Variable 0.041082 0.013088 3.138949 0.002348X Variable -0.000113 0.000221 -0.512198 0.609873
30 days Avg. Returns over a Period
SUMMARY OUTPUT
Regression StatisticsMultiple R 0.55611R Square 0.309259Adjusted R 0.292614Standard E 0.444409
Observatio 86
ANOVAdf SS MS F
Regression 2 7.339229 3.669615 18.58038Residual 83 16.39245 0.197499Total 85 23.73168
CoefficientsStandard Error t Stat P-valueIntercept 0.13854 0.09858 1.405361 0.163646X Variable 0.036827 0.009051 4.068753 0.000107X Variable -0.039451 0.155894 -0.253064 0.800844
t Stat P-value Lower 95%Upper 95%Lower 95.0%Upper 95.0%2.39947064839454 0.018631 0.020015 0.213768 0.020015 0.2137686.12492598196594 2.81E-08 0.023677 0.046443 0.023677 0.046443
F Significance F37.51472 2.81E-08
P-value Lower 95%Upper 95%Lower 95.0%Upper 95.0%0.018631 0.020015 0.213768 0.020015 0.2137682.81E-08 0.023677 0.046443 0.023677 0.046443
Significance F1.94E-07
Lower 95%Upper 95%Lower 95.0%Upper 95.0%0.013842 0.211334 0.013842 0.2113340.015051 0.067113 0.015051 0.067113
-0.000553 0.000326 -0.000553 0.000326
Significance F1.94E-07
Lower 95%Upper 95%Lower 95.0%Upper 95.0%0.013842 0.211334 0.013842 0.2113340.015051 0.067113 0.015051 0.067113
-0.000553 0.000326 -0.000553 0.000326
Significance F2.15E-07
Lower 95%Upper 95%Lower 95.0%Upper 95.0%-0.057531 0.334611 -0.057531 0.3346110.018825 0.05483 0.018825 0.05483
-0.349518 0.270616 -0.349518 0.270616
YEAR PAT INTERESTPBT TAX TAX RATEEBIT EBIT(1-T)05----mar 1,210.67 317 -207.98 353.6 -1.700163 109.02 294.371806--mar 2,012.08 0.66 236.81 2,268.97 273.68 0.120619 2505.78 2203.53607--mar 4,033.23 1.00 282.07 4,592.99 566.79 0.123403 4875.06 4273.46208---mar 6,244.19 0.55 393.43 6,940.37 632.43 0.091123 7333.8 6665.51909--mar 7,743.84 0.24 434.16 8,134.66 321.78 0.039557 8568.82 8229.866
0.61
0.00
1,000.00
2,000.00
3,000.00
4,000.00
5,000.00
6,000.00
7,000.00
8,000.00
9,000.00
pat growth
1,210.67
2,012.08
4,033.23
6,244.19
7,743.84
year
1 2 3 4 5
0100020003000400050006000700080009000
ebit(1-t) growth
Column I
1 2 3 40.00
500.00
1,000.00
1,500.00
2,000.00
2,500.00
3,000.00
growth in capital expenditure
Column J
CAPEX DEPRECATCAPEX-DECHANGE I REINVES RR BV OF EQUITY GROWTH I1,019.36 4,533.60
1,909.16 1,432.34 476.82 -1,347.28 -870.46 -0.395027 7,345.56 0.622,069.93 2,353.30 -283.37 -1,479.57 -1,762.94 -0.412533 11,443.27 0.562,392.06 3,166.58 -774.52 719.55 -54.97 -0.008247 20,241.49 0.771,564.35 3,206.28 -1,641.93 -1,153.53 -2,795.46 -0.339673 27,643.97 0.37
0.58
1 2 3 4 5
0100020003000400050006000700080009000
ebit(1-t) growth
Column I
1 2 3 4 50.00
1,000.00
2,000.00
3,000.00
4,000.00
5,000.00
6,000.00
7,000.00
8,000.00
9,000.00
growth in debt
Column R
1 2 3 4 50.00
5,000.00
10,000.00
15,000.00
20,000.00
25,000.00
30,000.00
growth in equity
Column P
BV OF DEBT GROWTH IN DEBT TOTAL BV ROC4,994.29 9,527.89 0.0308964,796.29 -0.04 12,141.85 0.1814835,310.81 0.11 16,754.08 0.255076,570.34 0.24 26,811.83 0.2486047,713.65 0.17 35,357.62 0.232761
0.12
1 2 3 4 50.00
1,000.00
2,000.00
3,000.00
4,000.00
5,000.00
6,000.00
7,000.00
8,000.00
9,000.00
growth in debt
Column R
1 2 3 4 50.00
5,000.00
10,000.00
15,000.00
20,000.00
25,000.00
30,000.00
growth in equity
Column P
BSE BSE BSE
Times No. Rs. Crore Times Rs. Crore Rs. CroreMar-09 Mar-09 Mar-09 Mar-09 Mar-09 Mar-08
Company P/E Beta Divide P/B PAT PAT growth ratepayout rati3I Infotech 3.95 1.27 19.63 0.66 153.71 94.26 0.630702 0.127708A B B Ltd. 17.83 0.87 46.62 4.15 492.98 546.77 -0.098378 0.094568A C C Ltd. 8.67 0.88 375.35 2.03 1,136.13 1,211.12 -0.061918 0.330376Aditya Birl 1.81 1.22 3.51 0.35 459.26 476.54 -0.036261 0.007643Adlabs Film -11.41 1.39 1.25 40.63 725.54 -0.944 0Ador Fonte 2.67 1 1.75 0.82 94.17 88.35 0.065874 0.018583Ador Multip 7.26 1 0 0.63 0.39 0.27 0.444444 0Advent Com -21.84 1.29 0 0.26 65.13 66.04 -0.01378 0Ajanta Pha 2.81 1.29 2.93 0.4 23.42 18.65 0.255764 0.125107Albert Davi 3.53 1.33 2 0.48 7.48 7.15 0.046154 0.26738Alfa Laval ( 17.16 0.63 45.4 4.7 97.72 82.91 0.178627 0.464593Ambuja Cem 7.76 0.8 334.97 1.81 1,080.97 1,121.57 -0.036199 0.309879Amtek Auto 6.3 0.55 7.99 0.43 176.7 196.76 -0.101952 0.045218Amtek India 1.22 0.94 3.85 0.23 346.96 117.17 1.961168 0.011096Andhra Ba 3.34 1.25 218.25 0.6 652.72 575.33 0.134514 0.33437Aplab Ltd. 22.32 1.24 0.5 0.51 0.7 3.5 -0.8 0.714286Areva T & D 19.19 1.22 43.04 6.27 254.35 216.71 0.173688 0.169216Arihant Fo 0.59 0.91 0.7 0.27 32 28.3 0.130742 0.021875Ashirwad Ca 6.72 0.62 0.4 1.01 0.52 1.12 -0.535714 0.769231Asian Paint 20.5 0.41 167.86 6.89 370.53 376.53 -0.015935 0.453027Astra Micr 16.49 0.92 2.71 1.97 15.77 20.92 -0.246176 0.171845Astrazenec 20.14 0.79 37.5 11.42 72.48 61.26 0.183154 0.517384Automotive 5.15 0.84 9.82 0.75 59.95 48.69 0.231259 0.163803Avaya Glob 20.16 0.88 4.98 0.5 14.85 42.14 -0.647603 0.335354Aventis Ph 13.15 0.68 36.85 2.65 138.51 169.47 -0.182687 0.266046Axis Bank L 8.2 1.03 420.52 1.46 1,823.56 1,086.21 0.678828 0.230604B O C India 34.68 1.18 12.79 1.17 39.91 1.13 34.31858 0.320471Bajaj Hindu -3.28 1.19 8.49 0.5 28.14 43.48 -0.352806 0.301706Bajaj Hindu -1.1 1.15 0 0.47 -12.41 -25.12 -0.505971 0Bajaj Holdi 15.07 0.72 101.18 0.94 191.63 299.94 -0.361106 0.527997Balrampur C 13.93 1.02 12.78 1.27 97.23 -48.47 -3.005983 0.131441Bank Of Ba 4.01 1.35 383.56 0.67 2,227.25 1,435.16 0.551918 0.172212Bank Of In 3.84 1.46 491.55 0.98 3,007.35 2,009.37 0.496663 0.16345Bank Of Ma 2.38 1.09 64.58 0.43 361.71 325.7 0.110562 0.178541Bata India 11.11 1.14 16.07 2.53 61.51 43.76 0.405622 0.261258Bharat Bijl 5.19 1.27 14.13 1.25 47.82 72.96 -0.344572 0.295483Bharat Seat 6.54 1.05 1.57 0.72 2.83 2.9 -0.024138 0.55477Baharti Airt 9.85 0.82 20 9,287.72 6,467.73 0.436009 0.002153Binani Indu 4.3 1.57 8.88 0.5 18.23 14.13 0.290163 0.487109Blue Dart E 16.66 0.75 2.37 2.41 73.16 71.03 0.029987 0.032395C M C Ltd. 4.59 0.8 22.73 1.27 93.78 80.27 0.168307 0.242376Century En 17.49 1.1 10.03 0.28 42.58 18.86 1.257688 0.235557Cheviot Co. 4.08 1.3 2.71 0.29 173.81 164.42 0.05711 0.015592City Union 3.2 0.83 24 0.59 71.79 56.31 0.274907 0.334308Clariant Ch 6.75 0.51 50.66 1.53 758.67 321.2 1.361986 0.066775Colgate-Pal 22.06 0.61 203.99 29.6 288.63 218.42 0.321445 0.706753Cravatex Lt 5.14 0.55 0.45 0.51 1.84 1.25 0.472 0.244565Crisil Ltd. 13.45 0.67 50.58 5.1 71.49 35.56 1.010405 0.707512Crompton G 11.36 1.02 73.31 3.68 510.6 272.77 0.871907 0.143576
D I C India 7.52 0.74 3.21 0.6 13.58 8.54 0.590164 0.236377De Nora Ind 13.5 1.08 1.39 0.87 1.26 4.98 -0.746988 1.103175Denison Hyd 4.03 1.46 0.9 0.81 8.64 9.26 -0.066955 0.104167Dhanalaksh 5.6 0.91 6.41 0.8 57.27 28.46 1.012298 0.111926Dr. Reddy'S 14.39 0.67 105.4 1.57 598.4 433.08 0.381731 0.176136Esab India 7.73 1.09 23.86 3.13 60.62 51.9 0.168015 0.393599Essel Prop 7.95 0.82 4.7 0.34 34.72 33.54 0.035182 0.135369Excel Crop 2.7 1.22 5.5 0.54 45.77 24.13 0.896809 0.120166F A G Beari 4.81 0.88 7.48 1.16 95.53 80.27 0.190108 0.0783Foseco Indi 10.82 0.77 6.07 2.56 15.42 19.89 -0.224736 0.393645G M Brewer 5.92 1.05 1.87 1.04 9.06 14.94 -0.393574 0.206402G T L Ltd. 20.59 1.31 28.42 2.29 109.44 124.3 -0.119549 0.259686Garden Silk 2.64 1.22 5.74 0.34 34.43 23.68 0.45397 0.166715Gati Ltd. 14.44 0.8 6.77 1.22 35.83 23.31 0.537109 0.188948Geojit B N 29.58 1.08 11.21 1.54 14.33 45.33 -0.683874 0.782275Gillette Ind 23.95 0.55 40.73 4.3 109.5 93.29 0.173759 0.371963Glaxosmith 13.7 0.55 63.08 3.5 184.66 162.48 0.136509 0.341601Granules In 10.19 0.93 2.51 0.41 9.23 8.31 0.11071 0.271939Great Easte 2.37 1.01 121.83 0.58 999.89 870.83 0.148203 0.121843Greaves Co 4.69 1.21 29.3 0.69 91.94 119.62 -0.231399 0.318686Grindwell N 7.7 1.06 22.15 1.32 53.78 57.45 -0.063882 0.411863Gruh Finan 6.37 0.83 16.63 1.45 50.24 42.33 0.186865 0.331011Gujarat Flu 2.12 1.08 38.45 0.59 421.6 231.22 0.823372 0.0912H C L Infos 5.05 0.75 136.84 1.15 286.35 286.57 -0.000768 0.477877H C L Tech 8.62 0.92 598.58 1.85 952.41 678.47 0.403761 0.62849H D F C Ba 18.34 0.62 425.97 2.81 2,240.75 1,589.48 0.409738 0.190102Hexaware T 9.44 1.05 14.36 0.62 73.05 65.77 0.110689 0.196578Hindustan -119.44 1.2 0.15 0.57 -0.03 0.75 -1.04 -5I C I India 15.73 0.57 60.89 1.73 25.14 66.2 -0.620242 2.422037I D B I Ban 3.83 1.41 181.2 0.44 845.26 728.64 0.160052 0.214372I L & F S 9.47 1.12 27.85 5.47 37.36 28.03 0.332858 0.74545I T D Cemen -37.99 1 1.15 0.24 0.49 -2.89 -1.16955 2.346939Indag Rubb 1.37 0.56 1.05 0.39 7.44 8.19 -0.091575 0.141129Indian Ove 1.97 1.26 286.83 0.42 1,257.29 1,200.76 0.047079 0.228134Infosys Tec 13.28 0.68 1346 4.26 6,191.00 4,465.00 0.386562 0.217412Infotech En 6.59 1.51 8.33 0.68 126.01 54.54 1.310414 0.066106J B Chemic 4.27 1.11 8.43 0.58 92.25 51.01 0.808469 0.091382J S W Steel 9.46 1.24 18.71 0.57 1,075.70 1,639.05 -0.343705 0.017393Jindal Saw 2.61 1.12 26.06 0.4 339.15 278.8 0.216463 0.076839K S B Pump 7.06 0.95 9.57 1.51 63.34 44.78 0.414471 0.151089Kabra Extru 4.4 1.06 4.79 0.71 13.05 14.77 -0.116452 0.36705Kansai Nero 12.21 0.61 32.33 1.84 94.47 106.01 -0.108858 0.342225Karur Vysy 4.59 0.76 64.74 0.8 235.58 208.3 0.130965 0.274811Kirloskar O 10.04 0.94 19.42 1.14 118.48 123.01 -0.036826 0.16391L G Balakri 7.51 0.84 4.71 0.45 6.2 15.18 -0.591568 0.759677M R F Ltd. 18.54 0.87 8.48 0.65 137.43 163.99 -0.161961 0.061704Madras Alu 19.45 1.14 20.25 3.19 65.9 93.15 -0.292539 0.307284Maharashtr 8.42 1 6.29 0.46 8.39 9.09 -0.077008 0.749702Mangalam 1.66 1.11 15.42 0.57 92.69 111.83 -0.171153 0.166361Navin Fluori 1.55 1.72 10.1 0.38 47.11 13.15 2.58251 0.214392Oil Country 2.39 1.39 6.64 1.24 70.05 29.11 1.40639 0.094789Oriental B 3.63 1.18 182.9 0.43 905.57 838.28 0.080272 0.201972Punjab Nat 4.19 1.19 630.61 0.99 3,089.11 2,047.63 0.508627 0.20414Rain Commo 6.54 1.36 26.65 1.08 91.57 85.65 0.069119 0.291034
Rallis India 6.53 1.26 19.17 1.8 77.51 38.33 1.022176 0.247323S K F India 7.54 1.03 23.73 1.19 128.07 157.48 -0.186754 0.185289State Bank 7.42 1 1841.15 1.17 9,124.18 6,718.08 0.358153 0.201788Supreme In 5.26 1.2 22.1 1.03 102.76 51.32 1.002338 0.215064Swaraj Eng 5.55 0.76 6.21 1.22 21.28 14.3 0.488112 0.291823T C P L Pa 4.22 0.88 1.15 0.3 3.97 2.12 0.872642 0.289673Tata Consu 12.37 0.73 1370.05 3.96 5,385.07 4,270.84 0.260892 0.254416Value Indus 11.41 1.43 1.97 0.08 34.84 -1.16 -31.03448 0.056544Vardhman H 4.58 0.76 0.64 0.34 8.08 1.35 4.985185 0.079208Videocon In 2.98 1.4 22.94 0.29 1,059.43 760.55 0.392979 0.021653Vijaya Ban 3.85 1.12 50.72 0.44 207.64 349.91 -0.40659 0.244269Visaka Indu 1.61 1.19 6.35 0.34 41.51 12.06 2.441957 0.152975
(%) Rs. Crore Rs. CroreMar-09 Mar-09 Mar-09
ROE mkt cap Sales net pro ma p/s23.54 1125.93 527.24 0.291537 2.135517
26 15956.7 6,867.77 0.071782 2.32341824.61 15190.16 7,229.97 0.157142 2.10099819.25 160.431 2,050.22 0.224005 0.078251
6.76 15535.29 2,703.54 0.015028 5.74627730.88 439.25 1,048.41 0.089822 0.418968
8.82 3.52 10.26 0.038012 0.3430815.62 212.84 660.22 0.098649 0.32237714.05 106.9 319.33 0.073341 0.33476313.49 49.14 205.69 0.036365 0.23890329.34 1735.78 801.94 0.121855 2.16447624.73 15022.51 6,182.09 0.174855 2.43000511.22 2113.49 1,307.97 0.135095 1.61585524.39 556.31 1,228.27 0.282479 0.452922
17.9 4338.33 5,664.34 0.115233 0.7659022.26 20.33 104.74 0.006683 0.1941
31.27 7099 2,651.21 0.095937 2.67764520.54 134.66 105.52 0.30326 1.27615610.52 8.64 0.96 0.541667 9
33.1 13426.37 4,510.12 0.082155 2.97694311.76 451.83 117.22 0.134533 3.85454763.56 2146.38 356.34 0.203401 6.02340532.83 361.48 751.02 0.079825 0.481319
7.66 207.02 565.83 0.026245 0.3658720.88 3152.89 890.03 0.155624 3.54245417.77 33056.89 13,550.95 0.134571 2.439452
7.73 1441.3 533.39 0.074823 2.702153.54 2467.55 1,767.54 0.01592 1.396036
28.13 387.63 304.38 -0.040771 1.2735075.45 4765.24 219.12 0.874544 21.747179.57 2900.34 1,456.82 0.066741 1.990871
17.35 15566.93 16,605.09 0.134131 0.93747925.51 17120.71 18,344.93 0.163934 0.93326718.16 1747.91 4,703.17 0.076908 0.37164524.71 1090.23 989.96 0.062134 1.10128723.82 517.29 547.1 0.087406 0.94551310.71 39.97 219.3 0.012905 0.18226228.13 82617.21 34,048.32 0.272781 2.42646918.11 233.66 14.1 1.292908 16.5716319.73 1297.8 974.47 0.075077 1.33180127.59 1551.13 820.45 0.114303 1.890584
3.64 297.85 1,164.72 0.036558 0.2557277.18 82.08 1,898.84 0.091535 0.043226
18.47 819.2 411.16 0.174604 1.99241221.24 838.48 9,313.28 0.081461 0.090031
134.17 8242.52 1,750.77 0.164859 4.7079412.36 18.22 44.24 0.041591 0.41184426.34 2691.85 255.55 0.27975 10.5335632.35 11821.77 4,678.79 0.109131 2.526672
8.36 148.33 473.24 0.028696 0.3134357.92 35.3 19.67 0.064057 1.794611
23.23 66.78 64.1 0.134789 1.0418113.53 856.9 430.63 0.132991 1.98987510.66 13786.86 3,999.50 0.149619 3.44714644.65 676.68 427 0.141967 1.584731
4.65 465.11 335.91 0.103361 1.38462719.91 130.14 724.04 0.063215 0.17974123.77 764.39 755.35 0.126471 1.01196829.09 211.81 148.7 0.103699 1.42441217.46 95.59 283.9 0.031913 0.33670311.13 2797.17 1,450.90 0.075429 1.92788610.21 327.96 1,675.20 0.020553 0.195774
8.01 441.78 552.07 0.064901 0.8002255.28 993.07 140.95 0.101667 7.045548
27.59 2993.44 591.72 0.185054 5.05887924.75 4630.95 1,584.33 0.116554 2.922971
5.16 170.59 214.42 0.043046 0.79558827.89 4489.5 2,836.28 0.352536 1.582883
29.7 752.4 1,150.18 0.079935 0.65415818.07 623.35 509.01 0.105656 1.22463222.76 672.59 294 0.170884 2.28772127.63 1619.19 1,044.56 0.403615 1.55011730.38 2519.39 12,411.44 0.023071 0.20298924.29 20540.01 4,615.39 0.206355 4.4503315.32 62126.87 19,770.72 0.113337 3.142368
6.35 1218.16 498.17 0.146637 2.445272.21 8.84 29.79 -0.001007 0.296744
30.38 2034.44 906.34 0.027738 2.24467611.53 7410.89 12,668.35 0.066722 0.58499357.71 916.5 97.03 0.385036 9.445532
1.57 254.5 940.63 0.000521 0.27056328.28 28.3 76.27 0.097548 0.3710522.31 4497.32 10,910.87 0.115233 0.41218732.67 125537.2 20,264.00 0.305517 6.19508510.27 1450.45 566.57 0.222409 2.56005414.79 443.98 687.88 0.134108 0.645432
5.59 13273.91 14,006.59 0.0768 0.9476915.06 2876.62 5,003.35 0.067785 0.57493921.93 754.11 597.21 0.10606 1.26272216.13 85.74 153.5 0.085016 0.55856715.06 2051.94 1,382.71 0.068322 1.48399917.46 1618.28 1,631.31 0.144412 0.99201312.07 2141.72 2,170.60 0.054584 0.98669522.77 627.85 507.6 0.012214 1.23689912.66 1809.17 5,060.81 0.027156 0.357486
11.7 1299.94 492.17 0.133897 2.6412425.44 186.29 2.5 3.356 74.516
33.61 358.23 564.15 0.1643 0.63499119.77 245.98 420.09 0.112143 0.58554149.38 403.92 421.48 0.1662 0.95833714.03 4548.55 9,613.00 0.094203 0.47316723.52 21390.12 21,907.42 0.141007 0.97638717.14 1327.44 1,112.17 0.082335 1.193559
25.51 956.13 846.65 0.091549 1.1293119.78 1441.44 1,637.55 0.078208 0.88024215.74 113119.8 74,880.76 0.121849 1.51066534.13 815 1,651.93 0.062206 0.49336221.93 366.51 208.17 0.102224 1.760628
7.15 26.66 159.35 0.024914 0.16730535.13 105846.5 22,401.92 0.240384 4.724886
1.74 76.27 1,244.68 0.027991 0.0612777.42 60.45 8.34 0.968825 7.248201
14.45 5498.79 9,753.65 0.108619 0.56376711.31 1838.12 5,587.46 0.037162 0.32897219.13 188.9 584.69 0.070995 0.323077
Company P/E Beta growth ratepayout ratio3I Infotech 3.95 1.27 0.630702 0.127708022A B B Ltd. 17.83 0.87 -0.098378 0.094567731A C C Ltd. 8.67 0.88 -0.061918 0.330375925Aditya Birl 1.81 1.22 -0.036261 0.00764273Adlabs Film -11.41 1.39 -0.944 0Ador Fonte 2.67 1 0.065874 0.018583413Ador Multip 7.26 1 0.444444 0Advent Com -21.84 1.29 -0.01378 0Ajanta Pha 2.81 1.29 0.255764 0.125106746Albert Davi 3.53 1.33 0.046154 0.267379679Alfa Laval ( 17.16 0.63 0.178627 0.464592714Ambuja Cem 7.76 0.8 -0.036199 0.30987909 SUMMARY OUTPUTAmtek Auto 6.3 0.55 -0.101952 0.045217883Amtek India 1.22 0.94 1.961168 0.01109638 Regression StatisticsAndhra Ba 3.34 1.25 0.134514 0.334370021 Multiple R 0.667208Aplab Ltd. 22.32 1.24 -0.8 0.714285714 R Square 0.445167Areva T & D 19.19 1.22 0.173688 0.169215648 Adjusted R 0.430171Arihant Fo 0.59 0.91 0.130742 0.021875 Standard E 11.12555Ashirwad Ca 6.72 0.62 -0.535714 0.769230769 Observatio 115Asian Paint 20.5 0.41 -0.015935 0.453026745Astra Micr 16.49 0.92 -0.246176 0.171845276 ANOVAAstrazenec 20.14 0.79 0.183154 0.517384106 dfAutomotive 5.15 0.84 0.231259 0.163803169 Regression 3Avaya Glob 20.16 0.88 -0.647603 0.335353535 Residual 111Aventis Ph 13.15 0.68 -0.182687 0.266045773 Total 114Axis Bank L 8.2 1.03 0.678828 0.230603874B O C India 34.68 1.18 34.31858 0.32047106 CoefficientsBajaj Hindu -3.28 1.19 -0.352806 0.301705757 Intercept 10.017Bajaj Hindu -1.1 1.15 -0.505971 0 Beta -6.946701Bajaj Holdi 15.07 0.72 -0.361106 0.52799666 Growth Rat 0.353652Balrampur C 13.93 1.02 -3.005983 0.131440913 Payout Rat 15.19138Bank Of Ba 4.01 1.35 0.551918 0.17221237Bank Of In 3.84 1.46 0.496663 0.163449549Bank Of Ma 2.38 1.09 0.110562 0.17854082Bata India 11.11 1.14 0.405622 0.261258332 P/E ratio=1Bharat Bijl 5.19 1.27 -0.344572 0.295483061Bharat Seat 6.54 1.05 -0.024138 0.554770318Baharti Airt 23.29 0.82 0.436009 0.002153381Binani Indu 4.3 1.57 0.290163 0.487109161 P/E ratioBlue Dart E 16.66 0.75 0.029987 0.032394751 EPSC M C Ltd. 4.59 0.8 0.168307 0.242375773 EST Mkt PrCentury En 17.49 1.1 1.257688 0.235556599 MKT PriceCheviot Co. 4.08 1.3 0.05711 0.015591738City Union 3.2 0.83 0.274907 0.334308399Clariant Ch 6.75 0.51 1.361986 0.066774751Colgate-Pal 22.06 0.61 0.321445 0.70675259Cravatex Lt 5.14 0.55 0.472 0.244565217Crisil Ltd. 13.45 0.67 1.010405 0.70751154Crompton G 11.36 1.02 0.871907 0.143576185D I C India 7.52 0.74 0.590164 0.236377025De Nora Ind 13.5 1.08 -0.746988 1.103174603Denison Hyd 4.03 1.46 -0.066955 0.104166667
Dhanalaksh 5.6 0.91 1.012298 0.111925965Dr. Reddy'S 14.39 0.67 0.381731 0.176136364Esab India 7.73 1.09 0.168015 0.393599472Essel Prop 7.95 0.82 0.035182 0.135368664Excel Crop 2.7 1.22 0.896809 0.120166048F A G Beari 4.81 0.88 0.190108 0.07830001Foseco Indi 10.82 0.77 -0.224736 0.393644617G M Brewer 5.92 1.05 -0.393574 0.206401766G T L Ltd. 20.59 1.31 -0.119549 0.259685673Garden Silk 2.64 1.22 0.45397 0.166715074Gati Ltd. 14.44 0.8 0.537109 0.188947809Geojit B N 29.58 1.08 -0.683874 0.782274948Gillette Ind 23.95 0.55 0.173759 0.37196347Glaxosmith 13.7 0.55 0.136509 0.34160078Granules In 10.19 0.93 0.11071 0.271939328Great Easte 2.37 1.01 0.148203 0.121843403Greaves Co 4.69 1.21 -0.231399 0.3186861Grindwell N 7.7 1.06 -0.063882 0.411863146Gruh Finan 6.37 0.83 0.186865 0.331011146Gujarat Flu 2.12 1.08 0.823372 0.09120019H C L Infos 5.05 0.75 -0.000768 0.477876724H C L Tech 8.62 0.92 0.403761 0.628489831H D F C Ba 18.34 0.62 0.409738 0.190101529Hexaware T 9.44 1.05 0.110689 0.196577687Hindustan -119.44 1.2 -1.04 -5I C I India 15.73 0.57 -0.620242 2.422036595I D B I Ban 3.83 1.41 0.160052 0.214371909I L & F S 9.47 1.12 0.332858 0.745449679I T D Cemen -37.99 1 -1.16955 2.346938776Indag Rubb 1.37 0.56 -0.091575 0.141129032Indian Ove 1.97 1.26 0.047079 0.228133525Infosys Tec 13.28 0.68 0.386562 0.217412373Infotech En 6.59 1.51 1.310414 0.066105865J B Chemic 4.27 1.11 0.808469 0.091382114J S W Steel 9.46 1.24 -0.343705 0.017393325Jindal Saw 2.61 1.12 0.216463 0.076839157K S B Pump 7.06 0.95 0.414471 0.151089359Kabra Extru 4.4 1.06 -0.116452 0.367049808Kansai Nero 12.21 0.61 -0.108858 0.342225045Karur Vysy 4.59 0.76 0.130965 0.274811105Kirloskar O 10.04 0.94 -0.036826 0.163909521L G Balakri 7.51 0.84 -0.591568 0.759677419M R F Ltd. 18.54 0.87 -0.161961 0.06170414Madras Alu 19.45 1.14 -0.292539 0.307283763Maharashtr 8.42 1 -0.077008 0.749702026Mangalam 1.66 1.11 -0.171153 0.166360988Navin Fluori 1.55 1.72 2.58251 0.214391849Oil Country 2.39 1.39 1.40639 0.094789436Oriental B 3.63 1.18 0.080272 0.201972238Punjab Nat 4.19 1.19 0.508627 0.204139704Rain Commo 6.54 1.36 0.069119 0.291034182Rallis India 6.53 1.26 1.022176 0.247322926S K F India 7.54 1.03 -0.186754 0.185289295State Bank 7.42 1 0.358153 0.201787996
Supreme In 5.26 1.2 1.002338 0.215064227Swaraj Eng 5.55 0.76 0.488112 0.291823308T C P L Pa 4.22 0.88 0.872642 0.289672544Tata Consu 12.37 0.73 0.260892 0.254416377Value Indus 11.41 1.43 -31.03448 0.056544202Vardhman H 4.58 0.76 4.985185 0.079207921Videocon In 2.98 1.4 0.392979 0.021653153Vijaya Ban 3.85 1.12 -0.40659 0.244268927Visaka Indu 1.61 1.19 2.441957 0.152975187
SS MS F Significance F11023.66 3674.555 29.6867 3.61E-1413739.34 123.7778
24763
Standard Error t Stat P-value Lower 95%Upper 95%Lower 95.0%Upper 95.0%4.214 2.377076 0.019162 1.666677 18.36732 1.666677 18.36732
3.958276 -1.754982 0.082022 -14.79029 0.896886 -14.79029 0.8968860.236741 1.493834 0.138056 -0.115466 0.82277 -0.115466 0.822771.755009 8.656012 4.34E-14 11.71371 18.66905 11.71371 18.66905
10.017-6.9467*beta+0.353652*growth rate+15.19138*payout ratio
10.5918840.79
432.0426422.65
Company P/B Beta growth ratepayout rati ROE3I Infotech 0.66 1.27 0.630702 0.127708 23.54A B B Ltd. 4.15 0.87 -0.098378 0.094568 26A C C Ltd. 2.03 0.88 -0.061918 0.330376 24.61Aditya Birl 0.35 1.22 -0.036261 0.007643 19.25Adlabs Film 1.25 1.39 -0.944 0 6.76Ador Fonte 0.82 1 0.065874 0.018583 30.88Ador Multip 0.63 1 0.444444 0 8.82Advent Com 0.26 1.29 -0.01378 0 15.62Ajanta Pha 0.4 1.29 0.255764 0.125107 14.05Albert Davi 0.48 1.33 0.046154 0.26738 13.49Alfa Laval ( 4.7 0.63 0.178627 0.464593 29.34Ambuja Cem 1.81 0.8 -0.036199 0.309879 24.73Amtek Auto 0.43 0.55 -0.101952 0.045218 11.22Amtek India 0.23 0.94 1.961168 0.011096 24.39 SUMMARY OUTPUTAndhra Ba 0.6 1.25 0.134514 0.33437 17.9Aplab Ltd. 0.51 1.24 -0.8 0.714286 2.26 Regression StatisticsAreva T & D 6.27 1.22 0.173688 0.169216 31.27 Multiple RArihant Fo 0.27 0.91 0.130742 0.021875 20.54 R SquareAshirwad Ca 1.01 0.62 -0.535714 0.769231 10.52 Adjusted R SqAsian Paint 6.89 0.41 -0.015935 0.453027 33.1 Standard ErrorAstra Micr 1.97 0.92 -0.246176 0.171845 11.76 ObservationsAstrazenec 11.42 0.79 0.183154 0.517384 63.56Automotive 0.75 0.84 0.231259 0.163803 32.83 ANOVAAvaya Glob 0.5 0.88 -0.647603 0.335354 7.66Aventis Ph 2.65 0.68 -0.182687 0.266046 20.88 RegressionAxis Bank L 1.46 1.03 0.678828 0.230604 17.77 ResidualB O C India 1.17 1.18 34.31858 0.320471 7.73 TotalBajaj Hindu 0.5 1.19 -0.352806 0.301706 3.54Bajaj Hindu 0.47 1.15 -0.505971 0 28.13Bajaj Holdi 0.94 0.72 -0.361106 0.527997 5.45 InterceptBalrampur C 1.27 1.02 -3.005983 0.131441 9.57 BetaBank Of Ba 0.67 1.35 0.551918 0.172212 17.35 Growth rateBank Of In 0.98 1.46 0.496663 0.16345 25.51 Payout RatioBank Of Ma 0.43 1.09 0.110562 0.178541 18.16 ROEBata India 2.53 1.14 0.405622 0.261258 24.71Bharat Bijl 1.25 1.27 -0.344572 0.295483 23.82Bharat Seat 0.72 1.05 -0.024138 0.55477 10.71 P/B ratio=Baharti Airt 2.8 0.82 0.436009 0.002153 28.13 P/B ratioBinani Indu 0.5 1.57 0.290163 0.487109 18.11 Mkt P/B RatioBlue Dart E 2.41 0.75 0.029987 0.032395 19.73C M C Ltd. 1.27 0.8 0.168307 0.242376 27.59Century En 0.28 1.1 1.257688 0.235557 3.64Cheviot Co. 0.29 1.3 0.05711 0.015592 7.18City Union 0.59 0.83 0.274907 0.334308 18.47Clariant Ch 1.53 0.51 1.361986 0.066775 21.24Colgate-Pal 29.6 0.61 0.321445 0.706753 134.17Cravatex Lt 0.51 0.55 0.472 0.244565 12.36Crisil Ltd. 5.1 0.67 1.010405 0.707512 26.34
Crompton G 3.68 1.02 0.871907 0.143576 32.35D I C India 0.6 0.74 0.590164 0.236377 8.36De Nora Ind 0.87 1.08 -0.746988 1.103175 7.92Denison Hyd 0.81 1.46 -0.066955 0.104167 23.23Dhanalaksh 0.8 0.91 1.012298 0.111926 13.53Dr. Reddy'S 1.57 0.67 0.381731 0.176136 10.66Esab India 3.13 1.09 0.168015 0.393599 44.65Essel Prop 0.34 0.82 0.035182 0.135369 4.65Excel Crop 0.54 1.22 0.896809 0.120166 19.91F A G Beari 1.16 0.88 0.190108 0.0783 23.77Foseco Indi 2.56 0.77 -0.224736 0.393645 29.09G M Brewer 1.04 1.05 -0.393574 0.206402 17.46G T L Ltd. 2.29 1.31 -0.119549 0.259686 11.13Garden Silk 0.34 1.22 0.45397 0.166715 10.21Gati Ltd. 1.22 0.8 0.537109 0.188948 8.01Geojit B N 1.54 1.08 -0.683874 0.782275 5.28Gillette Ind 4.3 0.55 0.173759 0.371963 27.59Glaxosmith 3.5 0.55 0.136509 0.341601 24.75Granules In 0.41 0.93 0.11071 0.271939 5.16Great Easte 0.58 1.01 0.148203 0.121843 27.89Greaves Co 0.69 1.21 -0.231399 0.318686 29.7Grindwell N 1.32 1.06 -0.063882 0.411863 18.07Gruh Finan 1.45 0.83 0.186865 0.331011 22.76Gujarat Flu 0.59 1.08 0.823372 0.0912 27.63H C L Infos 1.15 0.75 -0.000768 0.477877 30.38H C L Tech 1.85 0.92 0.403761 0.62849 24.29H D F C Ba 2.81 0.62 0.409738 0.190102 15.32Hexaware T 0.62 1.05 0.110689 0.196578 6.35Hindustan 0.57 1.2 -1.04 -5 2.21I C I India 1.73 0.57 -0.620242 2.422037 30.38I D B I Ban 0.44 1.41 0.160052 0.214372 11.53I L & F S 5.47 1.12 0.332858 0.74545 57.71I T D Cemen 0.24 1 -1.16955 2.346939 1.57Indag Rubb 0.39 0.56 -0.091575 0.141129 28.28Indian Ove 0.42 1.26 0.047079 0.228134 22.31Infosys Tec 4.26 0.68 0.386562 0.217412 32.67Infotech En 0.68 1.51 1.310414 0.066106 10.27J B Chemic 0.58 1.11 0.808469 0.091382 14.79J S W Steel 0.57 1.24 -0.343705 0.017393 5.59Jindal Saw 0.4 1.12 0.216463 0.076839 15.06K S B Pump 1.51 0.95 0.414471 0.151089 21.93Kabra Extru 0.71 1.06 -0.116452 0.36705 16.13Kansai Nero 1.84 0.61 -0.108858 0.342225 15.06Karur Vysy 0.8 0.76 0.130965 0.274811 17.46Kirloskar O 1.14 0.94 -0.036826 0.16391 12.07L G Balakri 0.45 0.84 -0.591568 0.759677 22.77M R F Ltd. 0.65 0.87 -0.161961 0.061704 12.66Madras Alu 3.19 1.14 -0.292539 0.307284 11.7Maharashtr 0.46 1 -0.077008 0.749702 5.44Mangalam 0.57 1.11 -0.171153 0.166361 33.61Navin Fluori 0.38 1.72 2.58251 0.214392 19.77
Oil Country 1.24 1.39 1.40639 0.094789 49.38Oriental B 0.43 1.18 0.080272 0.201972 14.03Punjab Nat 0.99 1.19 0.508627 0.20414 23.52Rain Commo 1.08 1.36 0.069119 0.291034 17.14Rallis India 1.8 1.26 1.022176 0.247323 25.51S K F India 1.19 1.03 -0.186754 0.185289 19.78State Bank 1.17 1 0.358153 0.201788 15.74Supreme In 1.03 1.2 1.002338 0.215064 34.13Swaraj Eng 1.22 0.76 0.488112 0.291823 21.93T C P L Pa 0.3 0.88 0.872642 0.289673 7.15Tata Consu 3.96 0.73 0.260892 0.254416 35.13Value Indus 0.08 1.43 -31.03448 0.056544 1.74Vardhman H 0.34 0.76 4.985185 0.079208 7.42Videocon In 0.29 1.4 0.392979 0.021653 14.45Vijaya Ban 0.44 1.12 -0.40659 0.244269 11.31Visaka Indu 0.34 1.19 2.441957 0.152975 19.13
SUMMARY OUTPUT
Regression Statistics0.8381869011090.7025572811910.691741182325
1.7172536464115
df SS MS F Significance F4 766.1962 191.549 64.95478 4.32E-28
110 324.3856 2.94896114 1090.582
Coefficients Standard Error t Stat P-value Lower 95%Upper 95%Lower 95.0%Upper 95.0%0.182424322201 0.724418 0.251822 0.801649 -1.253203 1.618051 -1.253203 1.618051-1.68695874317 0.620921 -2.716864 0.007657 -2.917479 -0.456438 -2.917479 -0.456438-0.01285559315 0.036558 -0.351646 0.725776 -0.085306 0.059594 -0.085306 0.059594-0.06500314821 0.272349 -0.238676 0.811801 -0.604734 0.474728 -0.604734 0.4747280.160600927387 0.010722 14.97798 2.58E-28 0.139352 0.18185 0.139352 0.18185
0.182424-1.68696*beta-0.01286*growth rate-0.065*payout ratio+0.160601*roe-1.4524896933
2.8
65
Company p/s Beta growth ratepayout rati net pro marg3I Infotech 2.135517 1.27 0.630702 0.127708 0.291537A B B Ltd. 2.323418 0.87 -0.098378 0.094568 0.071782A C C Ltd. 2.100998 0.88 -0.061918 0.330376 0.157142Aditya Birl 0.078251 1.22 -0.036261 0.007643 0.224005Adlabs Film 5.746277 1.39 -0.944 0 0.015028Ador Fonte 0.418968 1 0.065874 0.018583 0.089822Ador Multip 0.34308 1 0.444444 0 0.038012Advent Com0.322377 1.29 -0.01378 0 0.098649Ajanta Pha 0.334763 1.29 0.255764 0.125107 0.073341Albert Davi 0.238903 1.33 0.046154 0.26738 0.036365Alfa Laval ( 2.164476 0.63 0.178627 0.464593 0.121855Ambuja Cem2.430005 0.8 -0.036199 0.309879 0.174855 SUMMARY OUTPUTAmtek Auto 1.615855 0.55 -0.101952 0.045218 0.135095Amtek India 0.452922 0.94 1.961168 0.011096 0.282479 Regression StatisticsAndhra Ba 0.765902 1.25 0.134514 0.33437 0.115233 Multiple RAplab Ltd. 0.1941 1.24 -0.8 0.714286 0.006683 R SquareAreva T & D2.677645 1.22 0.173688 0.169216 0.095937 Adjusted RArihant Fo 1.276156 0.91 0.130742 0.021875 0.30326 Standard EAshirwad Ca 9 0.62 -0.535714 0.769231 0.541667 ObservatioAsian Paint 2.976943 0.41 -0.015935 0.453027 0.082155Astra Micr 3.854547 0.92 -0.246176 0.171845 0.134533 ANOVAAstrazenec 6.023405 0.79 0.183154 0.517384 0.203401Automotive 0.481319 0.84 0.231259 0.163803 0.079825 RegressionAvaya Glob 0.36587 0.88 -0.647603 0.335354 0.026245 ResidualAventis Ph 3.542454 0.68 -0.182687 0.266046 0.155624 TotalAxis Bank L 2.439452 1.03 0.678828 0.230604 0.134571B O C India 2.70215 1.18 34.31858 0.320471 0.074823 CoefficientsBajaj Hindu 1.396036 1.19 -0.352806 0.301706 0.01592 InterceptBajaj Hindu 1.273507 1.15 -0.505971 0 -0.040771 BetaBajaj Holdi 21.74717 0.72 -0.361106 0.527997 0.874544 Growth RatBalrampur C1.990871 1.02 -3.005983 0.131441 0.066741 Payout ratiBank Of Ba 0.937479 1.35 0.551918 0.172212 0.134131 NPMBank Of In 0.933267 1.46 0.496663 0.16345 0.163934Bank Of Ma 0.371645 1.09 0.110562 0.178541 0.076908Bata India 1.101287 1.14 0.405622 0.261258 0.062134 P/S = 0.723395-1.48513*Beta -0.02567* Growth Rate +.449989* Payout Ratio + 20.11128 * Net profit MarginBharat Bijl 0.945513 1.27 -0.344572 0.295483 0.087406Bharat Seat 0.182262 1.05 -0.024138 0.55477 0.012905 P/S =Baharti Airt 2.426469 0.82 0.436009 0.002153 0.272781 Sales/sharBinani Indu 16.57163 1.57 0.290163 0.487109 1.292908 EST Mkt PrBlue Dart E 1.331801 0.75 0.029987 0.032395 0.075077 MKT PriceC M C Ltd. 1.890584 0.8 0.168307 0.242376 0.114303Century En 0.255727 1.1 1.257688 0.235557 0.036558Cheviot Co. 0.043226 1.3 0.05711 0.015592 0.091535City Union 1.992412 0.83 0.274907 0.334308 0.174604Clariant Ch 0.090031 0.51 1.361986 0.066775 0.081461Colgate-Pal 4.70794 0.61 0.321445 0.706753 0.164859Cravatex Lt 0.411844 0.55 0.472 0.244565 0.041591Crisil Ltd. 10.53356 0.67 1.010405 0.707512 0.27975Crompton G2.526672 1.02 0.871907 0.143576 0.109131D I C India 0.313435 0.74 0.590164 0.236377 0.028696De Nora Ind1.794611 1.08 -0.746988 1.103175 0.064057Denison Hyd 1.04181 1.46 -0.066955 0.104167 0.134789
Dhanalaksh 1.989875 0.91 1.012298 0.111926 0.132991Dr. Reddy'S3.447146 0.67 0.381731 0.176136 0.149619Esab India 1.584731 1.09 0.168015 0.393599 0.141967Essel Prop 1.384627 0.82 0.035182 0.135369 0.103361Excel Crop 0.179741 1.22 0.896809 0.120166 0.063215F A G Beari 1.011968 0.88 0.190108 0.0783 0.126471Foseco Indi 1.424412 0.77 -0.224736 0.393645 0.103699G M Brewer0.336703 1.05 -0.393574 0.206402 0.031913G T L Ltd. 1.927886 1.31 -0.119549 0.259686 0.075429Garden Silk 0.195774 1.22 0.45397 0.166715 0.020553Gati Ltd. 0.800225 0.8 0.537109 0.188948 0.064901Geojit B N 7.045548 1.08 -0.683874 0.782275 0.101667Gillette Ind 5.058879 0.55 0.173759 0.371963 0.185054Glaxosmith 2.922971 0.55 0.136509 0.341601 0.116554Granules In 0.795588 0.93 0.11071 0.271939 0.043046Great Easte1.582883 1.01 0.148203 0.121843 0.352536Greaves Co0.654158 1.21 -0.231399 0.318686 0.079935Grindwell N 1.224632 1.06 -0.063882 0.411863 0.105656Gruh Finan 2.287721 0.83 0.186865 0.331011 0.170884Gujarat Flu 1.550117 1.08 0.823372 0.0912 0.403615H C L Infos 0.202989 0.75 -0.000768 0.477877 0.023071H C L Tech 4.45033 0.92 0.403761 0.62849 0.206355H D F C Ba 3.142368 0.62 0.409738 0.190102 0.113337Hexaware T 2.44527 1.05 0.110689 0.196578 0.146637Hindustan 0.296744 1.2 -1.04 -5 -0.001007I C I India 2.244676 0.57 -0.620242 2.422037 0.027738I D B I Ban 0.584993 1.41 0.160052 0.214372 0.066722I L & F S 9.445532 1.12 0.332858 0.74545 0.385036I T D Cemen0.270563 1 -1.16955 2.346939 0.000521Indag Rubb 0.37105 0.56 -0.091575 0.141129 0.097548Indian Ove 0.412187 1.26 0.047079 0.228134 0.115233Infosys Tec 6.195085 0.68 0.386562 0.217412 0.305517Infotech En 2.560054 1.51 1.310414 0.066106 0.222409J B Chemic 0.645432 1.11 0.808469 0.091382 0.134108J S W Steel 0.94769 1.24 -0.343705 0.017393 0.0768Jindal Saw 0.574939 1.12 0.216463 0.076839 0.067785K S B Pump1.262722 0.95 0.414471 0.151089 0.10606Kabra Extru 0.558567 1.06 -0.116452 0.36705 0.085016Kansai Nero1.483999 0.61 -0.108858 0.342225 0.068322Karur Vysy 0.992013 0.76 0.130965 0.274811 0.144412Kirloskar O 0.986695 0.94 -0.036826 0.16391 0.054584L G Balakri 1.236899 0.84 -0.591568 0.759677 0.012214M R F Ltd. 0.357486 0.87 -0.161961 0.061704 0.027156Madras Alu 2.641242 1.14 -0.292539 0.307284 0.133897Maharashtr 74.516 1 -0.077008 0.749702 3.356Mangalam 0.634991 1.11 -0.171153 0.166361 0.1643Navin Fluori0.585541 1.72 2.58251 0.214392 0.112143Oil Country 0.958337 1.39 1.40639 0.094789 0.1662Oriental B 0.473167 1.18 0.080272 0.201972 0.094203Punjab Nat 0.976387 1.19 0.508627 0.20414 0.141007Rain Commo1.193559 1.36 0.069119 0.291034 0.082335Rallis India 1.12931 1.26 1.022176 0.247323 0.091549S K F India 0.880242 1.03 -0.186754 0.185289 0.078208State Bank 1.510665 1 0.358153 0.201788 0.121849
Supreme In 0.493362 1.2 1.002338 0.215064 0.062206Swaraj Eng 1.760628 0.76 0.488112 0.291823 0.102224T C P L Pa 0.167305 0.88 0.872642 0.289673 0.024914Tata Consu 4.724886 0.73 0.260892 0.254416 0.240384Value Indus 0.061277 1.43 -31.03448 0.056544 0.027991Vardhman H7.248201 0.76 4.985185 0.079208 0.968825Videocon In 0.563767 1.4 0.392979 0.021653 0.108619Vijaya Ban 0.328972 1.12 -0.40659 0.244269 0.037162Visaka Indu 0.323077 1.19 2.441957 0.152975 0.070995
SUMMARY OUTPUT
Regression Statistics0.9511710.9047260.901262
2.3276115
df SS MS F Significance F4 5659.19 1414.798 261.1426 3.54E-55
110 595.9492 5.41772114 6255.14
CoefficientsStandard Error t Stat P-value Lower 95%Upper 95%Lower 95.0%Upper 95.0%0.723395 0.886883 0.815661 0.416457 -1.034198 2.480988 -1.034198 2.480988
-1.485128 0.82812 -1.793373 0.075661 -3.126267 0.156011 -3.126267 0.156011-0.025674 0.049552 -0.518123 0.605413 -0.123873 0.072526 -0.123873 0.0725260.449989 0.368926 1.219728 0.225177 -0.281135 1.181113 -0.281135 1.18111320.11128 0.630123 31.91645 1.94E-57 18.86253 21.36004 18.86253 21.36004
P/S = 0.723395-1.48513*Beta -0.02567* Growth Rate +.449989* Payout Ratio + 20.11128 * Net profit Margin
4.34015513.54
58.76571422.65