wcm project edited

8/8/2019 Wcm Project Edited

1/132

APOLLO TYRES :- March,2009

(Rs./Millions)

OPENING STOCK

Raw Material 1973.56

Stores and Spares 251.29

2224.85

CLOSING STOCK



1636.50

AVERAGE STOCK OF RAW MATERIAL 1930.68

Raw Material Consumption 28042.63

Scrap Recoveries 95.99

Net Raw Material Consumption 27946.64

AVERAGE DAILY CONSUMPTION OF RAW MATERIAL 76.57

Opening Stock Of Work In Progress 240.91

Raw Material Consumed 27946.64

Closing Stock Of Work In Progress 289.25

MANUFACTRING EXPENSE

Purchase Of Finished Goods 1162.04

Stores And Spare Consumed 271.69

Power And Fuel 1492.94

Conversion Charges 539.05

REPAIR AND MAINTENANCE

Machinery 59.48

Building 27.63

Others 126.89

COST OF PRODUCTION 31578.02

AVERAGE DAILY COST OF PRODUCTION 86.52

Opening Stock Of Finished Goods 2667.15Closing Stock Of Finished Goods 2244.72

Cost Of Production 31578.02

Administration And Selling Expenses

Rent 103.01

Insurance 60.26

Rates And Taxes 74.11


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Director's Sitting Fees 0.98

Loss On Sale Of Assets(net) 0.00

Travelling,Coveyance And Vechicle Expenses 434.04

Postage,Telex,Telephone,Stationary 64.63

Freight And Forwarding 879.37

Commission To Selling Agent 50.04

Sales Promotion Expenses 645.77

Advertisement And Publicity 267.92

Research And Development 195.75

Bank Charges 61.14

Provision For Doubtful Debts/Advance 38.87

Lease Rent To The PTL Enterprise 250.00

Provision For The Diminution In The Investment Value 0.00

Legal And Professional Expenses 140.10

Micellaneous Expenses 223.06

COST OF GOOD SALES 35489.50

AVERAGE DAILY COST OF SALES 97.23

Opening Stock Of Finished Goods 2667.15

Closing Stock Of Finished Goods 2244.72

Average Stock Of Finished Goods 2455.94



Average Stock Of Work In Progress 265.08

GROSS SALES 45496.32

AVERAGE DAILY CREDIT SALES 124.65


Opening Stock Of Raw Material 1973.56

25973.08

Closing Stock Of Raw Material 1340.74

PURCHASE* 27313.82

AVERAGE DAILY CREDIT PURCHASE 74.83

Opening Stock Of Creditors 3753.34

Closing Stock Of Creditors 3198.95

Average Stock Of Creditors 3476.15

Opening Stock Of Debtors 1551.33

Closing Stock Of Debtors 872.84

Average Stock Of Debtors 1212.09

CALCULATION TO FIND PERIODS :March,2009


3/132

RAW MATERIAL STORAGE PERIOD

Average stock of raw material 1930.68

Average daily consumption of raw material 76.57

Raw Material Storage Period 25.22

WIP CONVERSION PERIOD

Average stock of WIP 265.08

Average daily cost of production 86.52

WIP Conversion Period 3.06

FINISHED GOODS STORAGE PERIOD

Average stock of finished goods 2455.94

Average daily cost of sales 97.23

Finished Goods Storage Period 25.26

AVERAGE COLLECTION PERIOD

Average Sundry Debtors 1212.09

Average Daily Credit Sales 124.65

Average Collection Period 9.72

AVERAGE PAYMENT PERIOD

average sundry creditors 3476.15

average daily credit purchase 74.83

Average Payment Period 46.45

OPERATING CYCLE 16.81

SOME USEFUL DATA March,2009

Currnet Asset 10,407.01

Current Liabilty 4,601.22

Net Working Capital 5,805.79

Inventory 4,170.47

Average Inventory 4651.69

Receivables 872.84


4/132

Average Account Receivable 1212.09

Cash and Bank Balance 3405.98

Loans and Advances 1,952.69

Net sales 40704.41

Total Assets 27,630.45

Average Total Asset 26286.11

Stockholder's Equity 13,557.13Average stockholder's Equity 12945.64

Cost of goods sold 35489.50

Net Income 2,691.72

EBITDA 3,360.15

Total Borrowing 6,955.15

Payable 4198.95

Average payable 4476.15


5/132

March,2008 March,2007

1863.31 1921.24

261.36 272.24

2124.67 2193.48

1973.56 1863.31

251.29 261.36

2224.85 2124.67

2174.76 2159.08

23930.19 22647.02

80.59 66.71

23849.60 22580.31

65.34 61.86

270.46 294.06

23849.60 22580.31

240.91 270.46

1035.08 851.70

270.81 259.43

1348.15 1326.76

448.91 64.74

66.26 62.95

21.03 17.13

122.56 108.85

27191.95 25295.47

74.50 69.30

2124.36 1706.642667.15 2124.36

27191.95 25295.47

93.80 92.39

65.58 86.91

74.88 93.14


6/132

0.92 1.28

4.00 8.42

394.04 349.07

63.86 62.05

851.15 749.92

43.57 32.67

714.30 517.64

245.18 205.96

107.42 82.48

48.61 53.63

2.25 16.35

200.00 150.00

0.00 2.40

101.15 68.62

407.16 304.78

30067.03 27755.46

82.38 76.04

2124.36 1706.64

2667.15 2124.36

2395.76 1915.50

270.46 294.06

240.91 270.46

255.69 282.26

42469.83 37743.43

116.36 103.41

23849.60 22580.31

1863.31 1921.24

21986.29 20659.07

1973.56 1863.31

23959.85 22522.38

65.64 61.71

4032.93 3129.54

3753.34 4032.93

3893.14 3581.24

2030.55 1751.44

1551.33 2030.55

1790.94 1891.00



7/132

2174.76 2159.08

65.34 61.86

33.28 34.90

255.69 282.26

74.50 69.30

3.43 4.07

2395.76 1915.50

82.38 76.04

29.08 25.19

1790.94 1891.00

116.36 103.41

15.39 18.29

3893.14 3581.24

65.64 61.71

59.31 58.04

21.88 24.41

March,2008 March,2007 March,2006

11,258.00 10,346.30 10,105.28

5,658.25 5,422.01 3,886.25

5,599.75 4,924.29 6,219.03

5,132.91 4,519.49 4,194.18

4826.2 4356.84

1,551.33 2,030.55 1,751.44


8/132

1790.94 1891

2658.53 1720.02 2313.60

1,786.84 1,937.10 1,843.92

36939.27 32923.28

24,941.76 23,241.78 19,299.18

24091.77 21270.48

12,334.15 9,788.42 6,340.1911061.29 8064.31

30067.03 27755.46

4,212.57 2,596.45

4,732.98 3,122.93

4,606.51 6,187.03 7,500.03

4753.34 4032.93 3129.54

4393.14 3581.24


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FINANCIAL RATIOS :-March,2009 March,2008

LIQUIDITY ANALYSIS RATIO

1. Current Ratio

Current Assets 10407.01 11258.00

Current Liabilty 4601.22 5658.25

Current Ratio 2.26 1.99

2.Quick Ratio


Inventory 4170.47 5132.91

Quick Assets 6236.54 6125.09


Quick Ratio 1.36 1.08

3.Net Working Capital Ratio



Net Working Capital 5805.79 5599.75

total assets 27630.45 24941.76

Net working Capital Ratio 0.21 0.22

PROFITABILITY ANALYSIS

4.Return On Asset (ROA)

Net Income 2691.72 4212.57

Average Total Asset 26286.11 24091.77

ROA Ratio (%) 10.24 17.49

5.Return on Equity (ROE)

Net Income 2691.72 4212.57

Average Stockholder's Equity 12945.64 11061.29

ROE (%) 20.79 38.08

6. Gross Profit Margin


10/132

Sales 40704.41 36939.27

Cost Of Goods Sold 35489.50 30067.03

Profit Margin( %) 12.81 18.60

7. Operating Profit Margin

EBITDA 3360.15 4732.98

Net Sales 40704.41 36939.27

Operating Profit Margin(%) 8.26 12.81

ACTIVITY ANALYSIS RATIO

8. Total Asset Turnover Ratio

Sales 40704.41 36939.27Average Total Asset 26286.11 24091.77

Average Turnover Ratio 1.55 1.53

9. Accounts Receivable Turnover Ratio

Sales 40704.41 36939.27

Average Account Receivable 1212.09 1790.94

Accounts Receivable Turnover Ratio 33.58 20.63

10. Days outstanding of Receivable (DSO)


Days of Receivable 10.87 17.70

11. Inventory Turnover Ratio


Average Inventory 4651.69 4826.20

Inventory Turnover Ratio 7.63 6.23

12. Days outstanding of Inventory (DIO )


Days of Inventory Holding 47.84 58.59

13.Payable Turnover Ratio


11/132

cost of goods sold 35489.50 30067.03

average payable 4476.15 4393.14

Payable Turnover Ratio 7.93 6.84

14. Days outstanding of Payable (DPO )

Payale Turnover Ratio 7.93 6.84

Days outstanding of Payable 46.04 53.33

Cash Conversion Cycle 12.67 22.95

FINANCIAL LEVERAGE RATIO

15.Debt Ratio

Total Debt 6955.15 4606.51Total assets 27630.45 24941.76

Debt Ratio 0.25 0.18

16.Debt to Equity Ratio

Total Debt 6955.15 4606.51

Total Equity 13557.13 12334.15

Debt to Equity Ratio 0.51 0.37

17.Working Capital Turnover Ratio


Net Working Capital 5,805.79 5,599.75

Working Capital Turnover Ratio 6.11 5.37

18. CURRENT ASSET TURNOVER RATIO

SALES 40704.41 36939.27

CURRENT ASSET 10,407.01 11,258.00

CURRENT ASSET TRNOVER RATIO 3.91 3.28

19.Cash Ratio

Cash 3405.98 2658.53

Current Liability 4,601.22 5,658.25

Cash Ratio(%) 74.02 46.99

DUPONT ANALYSIS

Net Profit AT/Sales(%) 0.07 0.11


12/132

Sales/Total Assets(%) 1.55 1.53

ROA(%) 0.10 0.17

Net Profit AT/Total Assets(%) 0.10 0.17

Total Assets/Stockhldrs. Equity(%) 2.03 2.18

ROE(%) 0.21 0.38

ROA 0.1

Net profit margin 0.07

net income 2,691.72

net revenue 40704.41

asset turnover 1.55

net revenue 40704.41

average total asset 26286.11


13/132

March,2007

10346.30

5422.01

1.91

10346.30

4519.49

5826.81

5422.01

1.07

10346.30

5422.01

4924.29

23241.78

0.21

2596.45

21270.48

12.21

2596.45

8064.31

32.20


14/132

32923.28

27755.46

15.70

3122.93

32923.28

9.49

32923.2821270.48

1.55

32923.28

1891.00

17.41

17.41

20.96

27755.46

4356.84

6.37

6.37

57.29


15/132

27755.46

3581.24

7.75

7.75

47.10

31.16

6187.0323241.78

0.27

6187.03

9788.42

0.63

27755.46

4,924.29

5.64

32923.28

10,346.30

3.18

1720.02

5,422.01

31.72

0.08


16/132

1.55

0.12

0.12

2.64

0.32


17/132

APOLLO TYRES

BALANCE SHEET (Rs./Millions) 2009 2008 2007

Current Liabilty 4,601.22 5,658.25 5,422.01

Provision 956.28 930.85 553.75

Shareholder's Equity 13,557.13 12,334.15 9,788.42

share capital 504.09 488.51 464.09equity share 0.00 45.65 117.2

reserve and surplus 13,053.04 11,799.99 9,207.13

Total Borrowing 6,955.15 4,606.51 6,187.03

secured 4,623.88 2,231.45 4,737.63

unsecured 2,331.27 2,375.06 1,449.40

Deferred Tax Liabilty 1,560.67 1,412.00 1,290.57

Total Liability + Shareholder's Equity 27,630.45 24,941.76 23,241.78

Fixed Asset 14,247.45 10,654.04 10,313.10

gross block 18,379.96 15,697.79 14,925.12

less: depericiation 6,946.60 5,987.83 5,416.57

net block 11,433.36 9,709.96 9,508.55

capial work in progress 2,814.09 944.08 804.55

Investment 2,974.48 3,027.13 2,581.14

Current Assets 10,407.01 11,258.00 10,346.30

Inventory 4,170.47 5,132.91 4,519.49

sundry debtors 872.84 1,551.33 2,030.55

cash and bank balance 3,405.98 2,658.53 1,720.02

loans and advances 1,952.69 1,786.84 1,937.10

other current asset 5.03 128.39 139.14

Deferred Tax Asset 1.51 2.59 1.24

Total Asset 27,630.45 24,941.76 23,241.78


18/132

2006

3,886.25

520.46

6,340.19

383.40

5,956.79

7,500.03

3,810.03

3,690.00

1,052.25

19,299.18

9,186.04

13,106.06

4,699.36

8,406.70

779.34

5.3

10,105.28

4,194.18

1,751.44

2,313.60

1,843.92

2.14

2.56

19,299.18


19/132

APOLLO TYRES

Mar-09

INCOME

GROSS SALES 45,496.32

LESS: EXCISE DUTY 4,791.91

NET SALES 40,704.41OTHER INCOME 112.47

NET INCOME 40,816.88

MANUFACTURING & OTHER EXPENSE 37,190.87

DEC./(INC.) IN WIP & FINISHED GOODS 265.86

INTEREST 668.43

EXPENDITURE 38,125.16

PROFIT BEFORE DEPRICIATION & TAX (EBDTA) 2,691.72

DEPRICIATION 980.07

transfer from revaluation reserve 0.00PROFIT BEFORE TAX (PBT) 1,711.65

PROVISION FOR TAX

CURRENT 439.3

DEFERRED 148.67

FRINGE BENEFIT TAX 42.5

NET PROFIT (PAT ) 1,081.18

EBITDA 3,360.15


20/132

Mar-08 Mar-07

42469.83 37743.43

5530.56 4820.15

36,939.27 32,923.2892.23 29.71

37,031.50 32,952.99

32,851.26 30143.67

-552.74 -313.61

520.41 526.48

32,818.93 30,356.54

4,212.57 2596.45

878.10 743.78

0.00 -1.523,334.47 1,854.19

975.01 445.65

121.43 238.32

45 36

2,193.03 1,134.22

4,732.98 3,122.93


21/132

CEAT TYRES March,2009

(Rs./Millions)

OPENING STOCK


stores and spares 173.04

2039.01

CLOSING STOCK

Raw Material 655.39

stores and spares 177.83

833.22



Scrap Recoveries 0.00

Net Raw Material Consumption 17042.85AVERAGE DAILY RAW MATERIAL CONSUMPTION 46.69





conversion charges 750.02


provision for obsolescence 21.76

power and fuel 905.39

factory expenses 23.52

freight and delivery charges 791.42

REPAIR AND MAINTENANCE

Machinery 106.90

Building 32.28

others 10.30







Rent 71.09

Insurance 17.11

Rates And Taxes 50.30

Travelling and Conveyance 119.95Printing and Stationary 12.29

Director's Fees 0.81


22/132

Auditors Remuneration 4.49

Advertisement And sales promotion 221.90

Rebate And Discount 1417.87

Comission 349.77

Communication 39.83

Legal Charges 9.59

Finance Charges 144.14Advances Written-Off 7.97

Provision For Doubtful Debts/Advances 21.92

Loss On Assets Sold/Discard 4.10

General Expenses 94.80

COST OF GOODS SOLD 22445.55












15176.88

Closing Stock Of Raw Material 655.39PURCHASE* 15832.27










average stock of raw material 1436.12

average daily consumption of raw material 46.69



23/132


average stock of WIP 198.64

average daily cost of production 54.52



average stock of finished goods 1168.44

average daily cost of sales 61.49












Currnet Asset 8190.70

Current Liabilty 4890.51

Net Working Capital 3300.18

Inventory 2194.16Average Inventory 2802.38

Receivable 3187.09

Average Account Receviable 3133.08


Loans and Advances 794.26

Net Sales 25136.93

total assets 16566.84


Stockholder's Equity 4883.82

Average stockholder's Equity 5008.19


Net Income -371.72


24/132

EBITDA 628.74

Total Borrowing 6,451.44

Payable 2949.62

Average Payable 3326.78


25/132


1027.79 671.60

155.51 173.39

1183.30 844.99

1865.97 1027.79

173.04 155.51

2039.01 1183.30

1611.16 1014.15

14785.28 14425.18

0.00 0.00

14785.28 14425.1840.51 39.52

222.48 200.47

14785.28 14425.18

225.20 222.48

828.73 680.41

127.30 104.23

0.00 0.50

801.61 729.99

19.56 20.70

714.72 658.92

120.31 72.58

29.43 19.20

10.11 9.18

17434.32 16698.88

47.77 45.75

767.93 749.37

1148.03 767.93

17434.32 16698.88

31.12 28.19

14.79 25.07

44.33 50.56

126.41 100.7211.55 10.20

0.83 0.89


26/132

4.21 3.37

173.20 116.84

1001.72 758.88

310.32 244.22

37.50 28.96

14.39 9.87

95.29 98.300.33 6.99

10.89 14.12

11.28 37.51

111.89 146.56

19054.27 18361.55

52.20 50.31

808.04 749.37

1148.03 808.04

978.04 778.70

222.48 200.47

225.20 222.48

223.84 211.48

26029.66 23906.12

71.31 65.50

14785.28 14425.18

1027.79 671.60

13757.49 13753.58

1865.97 1027.7915623.46 14781.37

42.80 40.50

2953.79 2635.58

3703.90 2953.79

3328.85 2794.69

2631.71 2532.28

3079.08 2631.71

2855.40 2582.00


1611.16 1014.15

40.51 39.52

39.77 25.66


27/132

223.84 211.48

47.77 45.75

4.69 4.62

978.04 778.70

52.20 50.31

18.74 15.48

2855.40 2582.00

71.31 65.50

40.04 39.42

3328.85 2794.69

42.80 40.50

77.77 69.01

25.47 16.17


7719.79 5810.01 5393.41

5282.73 4896.49 4703.25

2437.06 913.53 690.15

3410.60 2212.17 1834.542811.39 2023.36

3079.08 2631.71 2532.28

2855.39 2581.99

415.87 405.51 396.13

814.24 560.62 630.46

23299.67 21347.78

15716.81 14189.57 13931.29

14953.19 14060.43

5132.57 3786.38 3490.04

4459.48 3638.21

19054.27 18361.55

1173.65 609.19


28/132

2872.4 1524.07

4,775.99 4,922.59 5,212.73

3703.93 2953.79 2635.58

3328.86 2794.69


29/132



1. Current Ratio




2.Quick Ratio


Inventory 2194.16 3410.60

Quick Assets 5996.53 4309.19

Current Liabilty 4890.51 5282.73Quick Ratio 1.23 0.82





total assets 16566.84 15716.81




Net Income -371.72 1173.65


ROA Ratio (%) -2.30 7.85


Net Income -371.72 1173.65


ROE (%) -7.42 22.87


Sales 25136.93 23299.67




30/132


EBITDA 628.74 2872.40

Net Sales 25136.93 23299.67



8. Asset Turnover Ratio

Sales 25136.93 23299.67




Sales 25136.93 23299.67















average payable 3326.78 3328.86




31/132





15.Debt Ratio

Total Debt 6451.44 4775.99

Total assets 16566.84 15716.81



Total Debt 6451.44 4775.99

Total Equity 4883.82 5132.57







SALES 25136.93 23299.67

CURRENT ASSET 8190.70 7719.79


19.Cash Ratio

Cash 2015.18 415.87

Current Liability 4890.51 5282.73

Cash Ratio(%) 41.21 7.87

DUPONT ANALYSIS

Net Profit AT/Sales(%) -0.01 0.05


ROA(%) -0.02 0.08

Net Profit AT/Total Assets(%) -0.02 0.08


ROE(%) -0.07 0.26


32/132


33/132

March,2007

5810.01

4896.49

1.19

5810.01

2212.17

3597.84

4896.490.73

5810.01

4896.49

913.53

14189.57

0.06

609.19

14060.43

4.33

609.19

3638.21

16.74

21347.78

18361.55

13.99


34/132

1524.07

21347.78

7.14

21347.78

14060.43

1.52

21347.78

2581.99

8.27

8.27

44.15

18361.55

2023.36

9.07

9.07

40.22

18361.55

2794.69

6.57


35/132

6.57

55.55

28.81

4922.59

14189.57

0.35

4922.59

3786.38

1.30

18361.55

913.53

20.10

21347.78

5810.01

3.67

405.51

4896.49

8.28

0.03

1.52

0.04

0.04

3.86

0.17


36/132


37/132

CEAT TYRES

BALANCE SHEET (Rs./Millions) 2009 2008 2007

Current Liabilty 4,890.51 5,282.73 4,896.49

Provision 178.03 252.48 351.31

Shareholder's Equity 4,883.82 5,132.57 3,786.38

share capital 342.44 342.43 456.8equity share 0.00 0

reserve and surplus 4,541.38 4,790.15 3329.58

Total Borrowing 6,451.44 4,775.99 4,922.59

secured 3,981.24 2,653.91 2,757.59

unsecured 2,470.20 2,122.08 2,165.00

Deferred Tax Liabilty 163.04 273.04 232.81

Total Liability + Shareholder's Equity 16,566.84 15,716.81 14,189.57

Fixed Asset 7,949.47 7,901.00 7,101.43

gross block 12,340.60 12,143.32 11,130.29

less: depericiation 4,586.74 4,277.11 4,130.20

net block 7,753.86 7,866.21 7,000.10

capial work in progress 195.61 34.79 101.33

Investment 426.67 96.02 1,278.13

Current Assets 8,190.70 7,719.79 5,810.01

Inventory 2,194.16 3,410.60 2,212.17

sundry debtors 3,187.09 3,079.08 2,631.71

cash and bank balance 2,015.18 415.87 405.51

loans and advances 794.26 814.24 560.62

other current asset

Deferred Tax Asset

Total Asset 16,566.84 15,716.81 14,189.57


38/132

2006

4,703.25

385.38

3,490.04

456.8

3,033.24

5,212.73

2,912.23

2,300.50

139.89

13,931.29

7,259.79

11,067.84

3,850.78

7,217.06

42.74

1,278.09

5,393.41

1,834.54

2,532.28

396.13

630.46

13,931.29


39/132

CEAT TYRES

Mar-09

INCOME


LESS: EXCISE DUTY 2447.39

NET SALES 25136.93OTHER INCOME 449.58

NET INCOME 25586.5

EXPENDITURE

MATERIALS 17042.85

COST OF TRADED GOODS 1066.46

PROSONNEL 1606.93

OTHER EXPENSE 5448.54

INTEREST 655.26

DEPRICIATION 345.2LESS:TRANSFER FOR REVALUATION RESERVE 87.69

LESS:TRANSFERRED TO PREOPERATIVE EXPENSE 1.34

256.17

26076.21

DEC./(INC) IN STOCK -117.98

25958.22

PROFIT/(LOSS) BEFORE EXCEPTIONAL ITEMS -371.72

EXCEPTIONAL ITEM-NET INCOME 0

PROFIT/(LOSS) BEFORE TAXATION -371.72

LESS: PROVISION FOR TAXATIONCURRENT TAX 0.99

SHORT/(EXCESS) PROVISION -118.86

FRINGE BENEFIT TAX 17.26

DERERRED TAX -110

-210.61

PROFIT/(LOSS) AFTER TAX (PAT) -161.12

EBIDTA 628.74


40/132

Mar-08 Mar-07

26029.66 23906.12

2729.99 2558.34

23299.67 21347.78225.35 244.43

23525.02 21592.22

14780.96 14425.18

702.45 443.52

1430.21 1282.31

4713.83 3940.77

569.39 604.27

329.91 310.610 0

0 0

329.91 310.61

22526.76 21006.65

-175.39 -23.62

22351.37 20983.03

1173.65 609.19

799.46 0

1973.1 609.19

430 100

0 0

16.83 23.78

40.23 92.92

487.06 216.7

1486.04 392.49

2872.4 1524.07


41/132

MRF TYRES :- March,2009

(Rs./Millions)

OPENING STOCK



2671.60

CLOSING STOCK



4684.20



Scrap Recoveries 0.00Net Raw Material Consumption 35315.70







Stores And Spare Consumed 975.30Power And Fuel 2940.80


REPAIR AND MAINTENANCE (TOTAL ) 477.20

Machinery

Building

Others







Rent 138.80

Insurance 55.20

Communication Expense 49.20

Director's Sitting Fees 0.20Loss On Sale Of Assets(net) 0.90


42/132

Travelling,Coveyance And Vechicle Expenses 166.90

Postage,Telex,Telephone,Stationary

Freight And Forwarding

Advance written-off

Marketing Expense 1396.50

Advertisement And Publicity 452.60Research And Development 137.00

Provision For Doubtful Debts/Advance

Royalities,Technical expenses

Provision For The Diminution In The Investment Value

Legal And Professional Expenses














32957.40


PURCHASE* 37207.40












43/132
























Inventory 9842.80


Receivable 7019.00

Average Account Receviable 6774.50


Loans and Advances 56.70Net Sales 50608.10


44/132

total assets 33825


Stockholder's Equity 11207.9

Average stockholder's Equity 10534.7


Net Income 1445.6EBITDA 4560.4

Total Borrowing 9621.9

Payable 6275

Average Payable 5211.55


45/132


1891.50 1684.10

270.60 246.80

2162.10 1930.90

2358.30 1891.50

313.30 270.60

2671.60 2162.10

2416.85 2046.50

30291.40 26066.70

0.00 0.0030291.40 26066.70

82.99 71.42

854.70 780.60

30291.40 26066.70

931.50 854.70

170.80 65.90

755.00 631.802196.90 2144.30

347.80 240.40

302.20 254.30

33987.30 29329.30

93.12 80.35

2639.50 2824.10

3334.80 2639.50

33987.30 29329.30

125.10 119.00

60.40 71.40

42.90 34.60

0.30 0.300.00 0.00


46/132

137.30 120.30

1290.10 1084.40

494.20 371.70121.20 121.50

399.10 0.00

35962.60 31437.10

98.53 86.13

2639.50 2824.10

3334.80 2639.50

2987.15 2731.80

854.70 780.60

931.50 854.70

893.10 817.65

50542.00 42558.40

138.47 116.60

30291.40 26066.70

1891.50 1684.10

28399.90 24382.60

2358.30 1891.50

30758.20 26274.10

84.27 71.98

3720.20 2729.80

4148.10 3720.20

3934.15 3225.00

5393.60 4623.40

5519.20 5393.60

5456.40 5008.50


2416.85 2046.50


47/132

82.99 71.42

29.12 28.66

893.10 817.65

93.12 80.35

9.59 10.18

2987.15 2731.80

98.53 86.13

30.32 31.72

5456.40 5008.50

138.47 116.60

39.40 42.96

3934.15 3225.00

84.27 71.98

46.69 44.80

61.75 68.70


15502.30 13342.90

7119.30 6247.70

8383.00 7095.20

6933.40 5656.30 5535.60

6294.85 5595.95

6530.00 6661.90 5716.90

6595.95 6189.40

731.70 533.20

55.00 35.2044102.20 37466.90


48/132

25347.3 21321.3 18926.5

23334.3 20123.9

9861.5 8242.9 7540.5

9052.2 7891.7

35962.60 31437.10

1717.8 799.14666.4 2958.4

6078.6 5399.8

4148.1 3720.2 2729.8

3934.15 3225


49/132



1. Current Ratio




2.Quick Ratio


Inventory 9842.80 6933.40

Quick Assets 10070.40 8568.90Current Liabilty 10233.20 7119.30






Total Assets 33825 25347.3Net working Capital Ratio 0.29 0.33



Net Income 1445.6 1717.8


ROA Ratio (%) 4.89 7.36


Net Income 1445.6 1717.8


ROE(%) 13.72 18.98


Sales 50608.10 44102.20Cost Of Goods Sold 42293.60 35962.60


50/132



EBITDA 4560.4 4666.4

Net Sales 50608.10 44102.20

Operating Profit Margin (%) 9.01 10.58



Sales 50608.10 44102.20Average Total Asset 29586.15 23334.3



Sales 50608.10 44102.20















average payable 5211.55 3934.15Payable Turnover Ratio 8.12 9.14


51/132






15.Debt Ratio

Total Debt 9621.9 6078.6

Total assets 33825 25347.3Debt Ratio 0.28 0.24


Total Debt 9621.9 6078.6

Total Equity 11207.9 9861.5







SALES 50608.10 44102.20

CURRENT ASSET 19913.20 15502.30


19.Cash Ratio

Cash 1023.50 731.70


Cash Ratio(%) 10.00 10.28

DUPONT ANALYSIS



ROA(%) 0.05 0.07

Net Profit AT/Total Assets(%) 0.05 0.07Total Assets/Stockhldrs. Equity(%) 2.81 2.58


52/132

ROE(%) 0.14 0.19


53/132

March,2007

13342.90

6247.70

2.1

13342.90

5656.30

7686.606247.70

1.23

13342.90

6247.70

7095.20

21321.30.33

799.1

20123.9

3.97

799.1

7891.7

10.13

37466.9031437.10


54/132

16.09

2958.4

37466.90

7.90

37466.9020123.9

1.86

37466.90

6189.40

6.05

6.05

60.30

31437.10

5595.95

5.62

5.62

64.97

31437.10

3225.009.75


55/132

9.75

37.44

87.82

5399.8

21321.30.25

5399.8

8242.9

0.66

31437.10

7095.20

4.43

37466.90

13342.90

2.81

533.20

6247.70

8.53

0.02

1.86

0.04

0.042.55


56/132

0.10


57/132

31-Mar-06 31-Mar-07

M R F Ltd. M R F Ltd.

Current liability & provisions 5814.2 7472.7

Curret liability 4861.2 6247.7

Sundry creditors 2729.8 3720.2

Acceptances 415.7 614.4

Deposits & advances from customers & employees 1670.6 1888.8

Interest accrued 19.6 12.6

Share application money 0 0

Other current liabilities 25.5 11.7

Provision 953 1225

Check for current liability OK OK

shareholders' equity 7540.5 8242.9

Paid up equity capital (net of forfeited capital) 42.4 42.4

Forfeited equity capital 0 0

Paid up preference capital (net of forfeited capital) 0 0

Capital contibution, suspense and application money 17.8 17.8

Reserves & surplus 7498.1 8200.5

TOTAL BORROWING 5429 5399.8

Deferred tax liability 142.8 205.9

Total liability + shareholders' equity 18926.5 21321.3

Net fixed assets 6888 7159.3

Investments 137.5 702.3

Deferred tax assets 159.1 81.6

Current assets 11712.7 13342.9

Cash & bank balance 460.2 533.2

Inventories 5535.6 5656.3

Receivables 5716.9 6661.9

Expenses paid in advance 0 491.5

Check for current assets OK OK

Loans & advances 29.2 35.2

Deferred revenue expenditure 0 0

Total assets 18926.5 21321.3

Check for Balance sheet total OK OK


58/132

31-Mar-06 31-Mar-07


Net income(PAT) 403.1 799.1

EBITDA 1983.2 2958.4

interest expense 326.6 503.7


59/132

31-Mar-08 31-Mar-09


9232.9 12829.4

7119.3 10233.2

4148.1 6275

682 1037.3

2272 2872.9

6 37.1

0 0

11.2 10.9

2113.6 2596.2

OK OK

9861.5 11207.9

42.4 42.4

0 0

0 0

17.8 17.8

9819.1 11165.5

6078.6 9621.9

174.3 165.8

25347.3 33825

8997.8 13102.3

720.2 685.6

72 67.2

15502.3 19913.2

731.7 1023.5

6933.4 9842.8

6530 7019

1307.2 2027.9

OK OK

55 56.7

0 0

25347.3 33825

OK OK


60/132

31-Mar-08 31-Mar-09


1717.8 1445.6

4666.4 4560.4

522.7 725.4


61/132

SELECT COMPANY APOLLO

Raw Material Storage Period

WIP Conversion Period

Finished Goods Storage Period

Average Collection Period

Average Payment Period

OPERATING CYCLE

1. Current Ratio

2.Quick Ratio

RATIOS3.Net Working Capital Ratio

4.Return On Asset (ROA) (%)

5.Return on Equity (ROE) (%)

6. Gross Profit Margin( %)


APOLLOCEAT 8. Asset Turnover Ratio

JK

MRF 9. Accounts Receivable Turnover Ratio

10. Days of Receivable Holding


12. Days of Inventory Holding

13.Debt Ratio



16. Days of payable Holding

17.working Capital Turnover Ratio


62/132

18.Current Asset Turnover Ratio


63/132


25.22 33.28 34.90

3.06 3.43 4.07

25.26 29.08 25.19

9.72 15.39 18.29

46.45 59.31 58.04

16.81 21.88 24.41

2.26 1.99 1.91

1.36 1.08 1.07

0.210 0.225 0.212

10.240 17.486 12.207

20.79 38.08 32.20

12.81 18.60 15.70

8.255 12.813 9.485

1.55 1.53 1.55

33.58 20.63 17.41

10.9 17.7 21.0

7.63 6.23 6.37

47.8 58.6 57.3

0.25 0.18 0.27

0.51 0.37 0.63

7.93 6.84 7.75

46.04 53.33 47.10

6.11 5.37 5.64


64/132

3.91 3.28 3.18


65/132

Mar-06

Unit Expression Apollo Tyres Ltd.

Annual Expenses details

Annual Total expenses 30406.7

Annual Raw materials, stores & spares 18750.9

Annual Raw material expenses 18503.4

Annual Stores, spares, tools consumed 247.5Annual Packaging expenses 0

Annual Purchase of finished goods 787.7

Annual Power, fuel & water charges 1218.2

Annual Compensation to employees 1635

Annual Indirect taxes 3983.3

Annual Excise duty 3885.4

Annual Royalties, technical know-how fees, etc. 0

Annual Rent & lease rent 191

Annual Repairs & maintenance 146.9

Annual Insurance premium 75

Annual Outsourced manufacturing jobs 23.9

Annual Outsourced professional jobs 46.7Annual Directors' fees 1

Annual

Annual Advertising expenses 100.8

Annual Marketing expenses 473.5

Annual Distribution expenses 621.5

Annual Travel expenses 262.1

Annual Communication expenses 65.9

Annual Printing & stationery expenses 0

Annual Miscellaneous expenses 329

Annual Other operational exp. of indl. enterprises 0

Annual Other operational exp. of non-fin. services enterprises 0

AnnualAnnual Fund based financial services expenses 531.6

Annual Interest expenses 531.6

Annual Financial charges on instruments 0

Annual Other fund based financial services expenses 0

Annual Fee based financial services expenses 38.8

Annual Bill discounting charges 0

Annual Bank charges, guarantee fees, etc. 38.8

Annual Treasury operations expenses 11.6

Annual Loss on sale of investments 0

Annual Loss on sale of long term investments 0

Annual Loss on sale of current investments 0

Annual Loss relating to forex transactions 11.6Annual Loss on revaluation of investments 0

Annual Total provisions 2.6

Annual Provisions for bad/ doubtful advances, debts 0

Annual Depreciation (net of transfer from reval. reserves) 727.9

Annual Amortisation 0

Annual Write-offs 14.2

Annual Less: Expenses capitalised 4.7

Annual Less: DRE & expenses charged to others 0


66/132

Annual

Annual Prior period & extra-ordinary expenses 90.3

Annual Prior period expenses 0

Annual Cash prior period expenses 0

Annual Prior period taxes 0

Annual Residual and combined cash prior period expenses 0

Annual Non cash prior period expenses 0Annual Prior period depreciation 0

Annual Residual and combined non cash prior period expenses 0

Annual Extra-ordinary expenses 90.3

Annual Loss on impairment of assets 0

Annual Loss on sale of assets 5.3

Annual Loss on change in accounting policies 0

Annual Provision for direct tax 282

Annual Corporate tax 217.9

Annual Deferred tax 18.6

Annual Less: Deferred tax assets / credit 0

Annual Other direct taxes 45.5

Annual Fringe benefits tax 45.5Annual

Annual Research & development expenses 83.3

Annual Research & development expenses: Capital account 0

Annual Research & development expenses: Current account 83.3

Annual Income details

Annual Total income 30301

Annual Sales 30097.3

Annual Industrial sales 30083

Annual Sale of goods 30021.2

Annual Sale of scrap 61.8

Annual Sale of raw materials 0

Annual Job-work income 0Annual After sales service income 0

Annual Construction income 0

Annual Sale of electricity & gas 0

Annual Fiscal benefits 0

Annual Income from non-financial services 14.3

Annual Trading income 0

Annual NET SALES 26211.9

Annual Income from financial services 34.7

Annual Fee based financial services income 0

Annual Fund based financial services income 32.9

Annual Interest income 32.9

Annual Dividends 0Annual Income from leasing,etc. 0

Annual Income from treasury operations 1.8

Annual Profit on sale of investments 0

Annual Profit on long term investments 0

Annual Profit on current investments 0

Annual Income from other treasury operations 0

Annual Gain relating to forex transactions 1.8

Annual


67/132

Annual Other income 11.8

Annual

Annual Prior period & extra-ordinary income 157.2

Annual Prior period income 157.2

Annual Cash prior period income 0

Annual Bad debts recovered 0

Annual Residual and combined cash prior period income 0Annual Non-cash prior period income 157.2

Annual Provisions written back 14.2

Annual Residual and combined non cash prior period income 143

Annual Extra-ordinary income 0

Annual Profit on sale of fixed assets 0

Annual Insurance claims 0

Annual Contra entry for depreciation added 0

Annual Gain on change in accounting policies 0

Annual

Annual Change in stock 887.4

Annual Income & expenditure

Annual Total income 30301Annual Sales 30097.3

Annual Industrial sales 30083

Annual Income from non-financial services 14.3

Annual Income from financial services 34.7

Annual Interest 32.9

Annual Dividends 0

Annual Treasury operations 1.8

Annual Other income 11.8

Annual Prior period income & extraordinary income 157.2

Annual Change in stock 887.4

Annual

Annual Total expenses 30406.7Annual Raw material expenses 18750.9

Annual Packaging expenses 0

Annual Purchase of finished goods 787.7

Annual Power, fuel & water charges 1218.2

Annual Compensation to employees 1635

Annual Indirect taxes 3983.3

Annual Royalties, technical know-how fees, etc. 0

Annual Lease rent & other rent 191

Annual Repairs & maintenance 146.9

Annual Insurance premium paid 75

Annual Outsourced mfg. jobs (incl. job works, etc.) 23.9

Annual Outsourced professional jobs 46.7Annual Directors' fees 1

Annual Selling & distribution expenses 1195.8

Annual Travel expenses 262.1

Annual Communication expenses 65.9

Annual Printing & stationery expenses 0

Annual Miscellaneous expenses 329

Annual

Annual Other operational exp. of indl. enterprises 0


68/132

Annual Other oper. exp. of non-fin. service enterprises 0

Annual Share of loss in subsidiaries/JVs,etc. 0

Annual Lease equalisation adjustment 0

Annual Loss on securitisation of assets/loans 0

Annual Fee based financial service expenses 38.8

Annual Treasury operations expenses 11.6

Annual Total provisions 2.6Annual Write-offs 14.2

Annual Less: Expenses capitalised 4.7

Annual Less: DRE & expenses charged to others 0

Annual

Annual Prior period & extraordinary expenses 90.3

Annual Interest paid 531.6

Annual Financial charges on instruments 0

Annual Expenses incurred on raising deposits/debts 0

Annual Depreciation 727.9

Annual Amortisation 0

Annual Provision for direct taxes 282

Annual PAT 781.7Annual

Annual PBDITA 2323.2

Annual PBDTA 1791.6

Annual PBT 1063.7

Annual

531.6

1791.6


69/132

Mar-07 Mar-08 Mar-09 Mar-06 Mar-07

Apollo Tyres Ltd. Apollo Tyres Ltd. Apollo Tyres Ltd. J K Tyre & Inds. Lt J K Tyre & Inds. Ltd

37339.9 41076.1 44420.9 24427.3 31069.1

22956.4 24261.3 28109.5 14533.3 19548.4

22697 23990.5 27837.8 14253.4 19249.9

259.4 270.8 271.7 279.9 298.50 0 0 0 0

851.7 1035.1 1162 267.6 270.4

1326.8 1348.1 1492.9 1110.8 1390

1994 2270.6 2075.4 1426.6 1557

4993.8 5566 4757.8 3106.3 3687.8

4900.7 5491.1 4683.7 3052.7 3629.2

0 0 0 72.9 75.8

254.1 307.5 366.4 39.7 40.9

189 209.9 214 80.1 84.4

86.9 65.6 60.3 34.2 35.5

64.7 448.9 539.1 453.4 596.8

74.3 105.8 146.9 1.3 1.41.3 0.9 1 0.4 0.5

206 245.2 267.9 214.1 163.1

550.3 757.9 695.8 576 665.9

749.9 851.1 879.4 832.4 887

349.1 394 434 0 0

62.1 63.9 64.6 0 0

0 0 0 0 0

365.1 489.5 474.9 439.9 452.3

0 0 0 0 0

0 0 0 0 0

703.1 554.3 979.1 673.3 790.6

703.1 554.3 979.1 673.3 790.6

0 0 0 0 0

0 0 0 0 0

53.6 48.6 61.1 0 0

0 0 0 0 0

53.6 48.6 61.1 0 0

16.5 20.4 204.8 0 0

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

16.5 20.4 204.8 0 00 0 0 0 0

18.8 2.2 38.9 1.9 3

16.4 2.2 38.9 1.9 3

742.3 878.1 980.1 636.5 709.3

0 0 0 57 56.8

5.2 6.1 0 0 0

3.5 0.3 215.5 0 0

0 0 0 0 0


70/132

8.4 4 0 2.8 0

0 0 0 2.8 0

0 0 0 2.8 0

0 0 0 2.8 0

0 0 0 0 0

0 0 0 0 00 0 0 0 0

0 0 0 0 0

8.4 4 0 0 0

0 0 0 0 0

8.4 4 0 0 0

0 0 0 0 0

720 1141.4 630.5 -133.2 52.2

445.7 975 439.3 0 4.7

238.3 121.4 148.7 0 14.4

0 0 0 145.2 0

36 45 42.5 12 33.1

36 45 42.5 12 33.1

82.5 123.3 27.7 76.9 99.4

0 15.9 8.1 0 0

82.5 107.4 19.6 76.9 99.4

38079.9 42755.9 45876.2 24303.5 30136.3

37821.8 42564.1 45605.7 24110.3 29926.4

37810.1 42550.4 45592.3 24110.3 29926.4

37743.4 42469.8 45496.3 23838.2 29526.9

66.7 80.6 96 0 0

0 0 0 0 0

0 0 0 0 00 0 0 0 0

0 0 0 0 0

0 0 0 0 0

0 0 0 272.1 399.5

11.7 13.7 13.4 0 0

0 0 0 0 0

32921.1 37073 40922 21057.6 26297.2

228.4 94.3 158 124.5 87.7

0 0 0 0 0

167.7 31.4 58.7 49.3 32.8

167.7 30.9 58.7 33.8 32.8

0 0.5 0 15.5 00 0 0 0 0

60.7 62.9 99.3 75.2 54.9

0 0 0 74.6 54.4

0 0 0 0 0

0 0 0 0 0

5.2 0 0 0.6 0.5

55.5 62.9 99.3 0 0


71/132

29.7 91.8 25.5 59.8 115.9

0 5.7 87 8.9 6.3

0 5.7 74.8 4.8 6.2

0 0 5 0 0

0 0 5 0 0

0 0 0 0 00 5.7 69.8 4.8 6.2

0 5.7 69.8 4.8 6.2

0 0 0 0 0

0 0 12.2 4.1 0.1

0 0 12.2 4.1 0.1

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

394.2 513.2 -374.1 288.6 1103.3

38079.9 42755.9 45876.2 24303.5 30136.337821.8 42564.1 45605.7 24110.3 29926.4

37810.1 42550.4 45592.3 24110.3 29926.4

11.7 13.7 13.4 0 0

228.4 94.3 158 124.5 87.7

167.7 30.9 58.7 33.8 32.8

0 0.5 0 15.5 0

60.7 62.9 99.3 75.2 54.9

29.7 91.8 25.5 59.8 115.9

0 5.7 87 8.9 6.3

394.2 513.2 -374.1 288.6 1103.3

37339.9 41076.1 44420.9 24427.3 31069.122956.4 24261.3 28109.5 14533.3 19548.4

0 0 0 0 0

851.7 1035.1 1162 267.6 270.4

1326.8 1348.1 1492.9 1110.8 1390

1994 2270.6 2075.4 1426.6 1557

4993.8 5566 4757.8 3106.3 3687.8

0 0 0 72.9 75.8

254.1 307.5 366.4 39.7 40.9

189 209.9 214 80.1 84.4

86.9 65.6 60.3 34.2 35.5

64.7 448.9 539.1 453.4 596.8

74.3 105.8 146.9 1.3 1.41.3 0.9 1 0.4 0.5

1506.2 1854.2 1843.1 1622.5 1716

349.1 394 434 0 0

62.1 63.9 64.6 0 0

0 0 0 0 0

365.1 489.5 474.9 439.9 452.3

0 0 0 0 0


72/132

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

53.6 48.6 61.1 0 0

16.5 20.4 204.8 0 0

18.8 2.2 38.9 1.9 35.2 6.1 0 0 0

3.5 0.3 215.5 0 0

0 0 0 0 0

8.4 4 0 2.8 0

703.1 554.3 979.1 673.3 790.6

0 0 0 0 0

0 0 0 0 0

742.3 878.1 980.1 636.5 709.3

0 0 0 57 56.8

720 1141.4 630.5 -133.2 52.2

1134.2 2193 1081.2 164.8 170.5

3299.6 4766.8 3670.9 1398.4 1779.4

2596.5 4212.5 2691.8 725.1 988.8

1854.2 3334.4 1711.7 31.6 222.7


73/132

Mar-08 Mar-09 Mar-06 Mar-07 Mar-08 Mar-09

J K Tyre & Inds. Lt J K Tyre & Inds. M R F Ltd. M R F Ltd. M R F Ltd. M R F Ltd.

33135.4 54630.1 34860.7 42246.5 49715.7 57036.1

20256.5 34449.7 21718.2 26698.5 31046.4 36291

19939 33931.9 21182 26066.7 30291.4 35315.7

317.5 517.8 536.2 631.8 755 975.30 0 0 0 0 0

244 718.8 56.9 65.9 170.8 143.5

1397.9 2465.3 1796 2144.3 2196.9 2940.8

1810.7 2998.5 1697.2 1961.4 2358 2699.9

4054.8 5652.1 4634.5 5233.4 6522.7 6758.1

4006.4 5562.1 4515.5 5091.5 6439.8 6708.2

83.1 129.5 0 0 0 0

52.8 89.6 112.1 119 125.1 138.8

96 178.2 223.9 254.3 302.2 477.2

41.6 52.1 63.4 71.4 60.4 55.2

533.4 588.4 168.8 240.4 347.8 577.8

1.7 3.9 1.5 1.8 2.9 3.70.3 1.2 0.3 0.3 0.3 0.2

199 366.8 359.4 371.7 494.2 452.6

771.9 1627.7 964.6 1084.4 1290.1 1396.5

920 1489 1004.7 1127 1244.2 1296.3

0 0 105 120.3 137.3 166.9

0 0 36.8 34.6 42.9 49.2

0 0 34 34.4 35.2 33.3

710.2 1006.4 244.4 310.9 399.1 358.3

0 0 0 0 0 0

0 0 0 0 0 0

911 1614.2 326.6 503.7 522.7 725.4

911 1614.2 326.6 503.7 522.7 725.4

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0.1 0.6 0 43.9 0 155.5

0.1 0.6 0 43.9 0 0

0 0 0 0 0 0

0 0 0 43.9 0 0

0 0 0 0 0 155.50 0 0 0 0 0

5 10.8 0 0 0 0

5 5 0 0 0 0

754.4 1133.5 1103.2 1456.6 1534.1 1695.2

0 0 0 0 0 0

0 0 7.9 8.7 40 4.2

0 0 0 11 30.3 62.9

128.3 182.1 28.4 13.1 19.1 15.7


74/132

3.7 0 79.4 184.7 0 0.9

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 00 0 0 0 0 0

0 0 0 0 0 0

3.7 0 79.4 184.7 0 0.9

0 0 0 0 0 0

3.7 0 0 0 0 0.9

0 0 0 0 0 0

415.6 235.9 150.3 199 891.8 694.2

75.4 124.2 115.5 130 895 675

311.5 63.5 20.3 52.4 0 0

0 0 0 0 22 3.7

28.7 48.2 14.5 16.6 18.8 22.9

28.7 48.2 14.5 16.6 18.8 22.9

128.3 182.1 115.3 121.5 121.2 137

0 0 4.7 25.1 8.5 20

128.3 182.1 110.6 96.4 112.7 117

32527.6 55552.9 34858.5 43156.1 50661.4 57589.4

32326.6 55311.3 34547.8 42558.4 50542 57316.3

32326.6 55311.3 34467.9 42474.5 50459.4 57220.6

31957.1 54903.2 34291.4 42252.7 50284.9 57059.5

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 00 0 0 0 0 0

0 0 0 0 0 0

0 0 13 75.3 130 115.4

369.5 408.1 163.5 146.5 44.5 45.7

0 0 79.9 83.9 82.6 95.7

0 0 79.9 83.9 82.6 95.7

28320.2 49749.2 30032.3 37466.9 44102.2 50608.1

23.9 40.4 242.4 20.2 88.2 104.7

0 0 0 0 0 0

23.9 40.4 8.1 14 11.8 15.9

23.9 40.3 6.9 12.8 10.4 14.6

0 0.1 1.2 1.2 1.4 1.30 0 0 0 0 0

0 0 234.3 6.2 76.4 88.8

0 0 234.3 6.2 24.2 88.8

0 0 0 0 24.2 88.8

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 52.2 0


75/132

101.5 185.1 29.2 24.8 29.7 29.5

75.6 16.1 39.1 552.7 1.5 138.9

75.6 7.3 37.6 548.8 0 138.9

0 0 0 0 0 113

0 0 0 0 0 0

0 0 0 0 0 11375.6 7.3 37.6 548.8 0 25.9

75.6 7.3 0 304.4 0 25.9

0 0 37.6 244.4 0 0

0 8.8 1.5 3.9 1.5 0

0 8.8 1.5 3.9 1.5 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

1275.1 -732.3 405.3 -110.5 772.1 892.3

32527.6 55552.9 34858.5 43156.1 50661.4 57589.432326.6 55311.3 34547.8 42558.4 50542 57316.3

32326.6 55311.3 34467.9 42474.5 50459.4 57220.6

0 0 79.9 83.9 82.6 95.7

23.9 40.4 242.4 20.2 88.2 104.7

23.9 40.3 6.9 12.8 10.4 14.6

0 0.1 1.2 1.2 1.4 1.3

0 0 234.3 6.2 76.4 88.8

101.5 185.1 29.2 24.8 29.7 29.5

75.6 16.1 39.1 552.7 1.5 138.9

1275.1 -732.3 405.3 -110.5 772.1 892.3

33135.4 54630.1 34860.7 42246.5 49715.7 57036.120256.5 34449.7 21718.2 26698.5 31046.4 36291

0 0 0 0 0 0

244 718.8 56.9 65.9 170.8 143.5

1397.9 2465.3 1796 2144.3 2196.9 2940.8

1810.7 2998.5 1697.2 1961.4 2358 2699.9

4054.8 5652.1 4634.5 5233.4 6522.7 6758.1

83.1 129.5 0 0 0 0

52.8 89.6 112.1 119 125.1 138.8

96 178.2 223.9 254.3 302.2 477.2

41.6 52.1 63.4 71.4 60.4 55.2

533.4 588.4 168.8 240.4 347.8 577.8

1.7 3.9 1.5 1.8 2.9 3.70.3 1.2 0.3 0.3 0.3 0.2

1890.9 3483.5 2328.7 2583.1 3028.5 3145.4

0 0 105 120.3 137.3 166.9

0 0 36.8 34.6 42.9 49.2

0 0 34 34.4 35.2 33.3

710.2 1006.4 244.4 310.9 399.1 358.3

0 0 0 0 0 0


76/132

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0.1 0.6 0 43.9 0 155.5

5 10.8 0 0 0 00 0 7.9 8.7 40 4.2

0 0 0 11 30.3 62.9

128.3 182.1 28.4 13.1 19.1 15.7

3.7 0 79.4 184.7 0 0.9

911 1614.2 326.6 503.7 522.7 725.4

0 0 0 0 0 0

0 0 0 0 0 0

754.4 1133.5 1103.2 1456.6 1534.1 1695.2

0 0 0 0 0 0

415.6 235.9 150.3 199 891.8 694.2

667.3 190.5 403.1 799.1 1717.8 1445.6

2748.3 3174.1 1983.2 2958.4 4666.4 4560.4

1837.3 1559.9 1656.6 2454.7 4143.7 3835

1082.9 426.4 553.4 998.1 2609.6 2139.8


77/132

J K TYRES :- March,2009

(Rs./Millions)

OPENING STOCK

Raw Material 1532


1668.1

CLOSING STOCK

Raw Material 1285.4

Stores and Spares 231

1516.4



Scrap Recoveries 0

Net Raw Material Consumption 34449.7








Power And Fuel 2465.3


REPAIR AND MAINTENANCE (TOTAL ) 178.2

Machinery

Building

Others



Opening Stock Of Finished Goods 3036Closing Stock Of Finished Goods 2371.8



Rent 89.6

Insurance 52.1

Communication Expense 0


78/132

Director's Sitting Fees 1.2

Loss On Sale Of Assets(net) 0

Travelling,Coveyance And Vechicle Expenses 0

Postage,Telex,Telephone,Stationary 0

Freight And Forwarding 0

Advance written-off 0

Marketing Expense 1627.7

Advertisement And Publicity 366.8

Research And Development 182.1

Provision For Doubtful Debts/Advance 0.8

Royalities,Technical expenses 129.5

Provision For The Diminution In The Investment Value 0

Legal And Professional Expenses 0




Opening Stock Of Finished Goods 3036






GROSS SALES 55311.3



Opening Stock Of Raw Material 1532

32917.7


PURCHASE* 34203.1



Closing Stock Of Creditors 4688







79/132


























Inventory 4144.5


Receivables 5752.5


80/132

Average Account Receivable 5567.3


Loans and Advances 268.0

Net Sales 49749.2

Total Assets 26204.8


Stockholder's Equity 5758.3Average stockholder's Equity 5548.8


Net Income 190.5

EBITDA 3174.1

Total Borrowing 11018.0

Payable 4688

average payable 5272.4


81/132


1430.4 1299.5

170.2 158.8

1600.6 1458.3

1532 1430.4

136.1 170.2

1668.1 1600.6

1634.35 1529.45

20256.5 19548.4

0 0

20256.5 19548.4

55.50 53.56

191.5 204.2

20256.5 19548.4

324.4 191.5

244 270.4

317.5 298.5

1397.9 1390

533.4 596.8

96 84.4

22712.4 22201.2

62.23 60.83

1893.8 777.83036 1893.8

22712.40 22201.20

52.8 40.9

41.6 35.5

0 0


82/132

0.3 0.5

3.7 0

0 0

0 0

0 0

0 0

771.9 665.9

199 163.1

128.3 99.4

5 3

83.1 75.8

0 0

0 0

710.2 452.3

23566.1 22621.6

64.56 61.98

1893.8 777.8

3036 1893.8

2464.9 1335.8

191.5 204.2

324.4 191.5

257.95 197.85

32326.6 29926.4

88.57 81.99

20256.5 19548.4

1430.4 1299.5

18826.1 18248.9

1532 1430.4

20358.1 19679.3

55.78 53.92

5465.2 4598.4

5856.8 5465.2

5661 5031.8

4778.9 4117.9

4355.2 4778.9

4567.05 4448.4



83/132

1634.35 1529.45

55.50 53.56

29.45 28.56

257.95 197.85

62.23 60.83

4.15 3.25

2464.90 1335.80

64.56 61.98

38.18 21.55

4567.05 4448.40

88.57 81.99

51.57 54.26

5661.00 5031.80

55.78 53.92

101.50 93.33

21.84 14.29


10880.4 10049.3

8040.4 7663.4

2840.0 2385.9

5028.5 3685.9 2440.3

4357.2 3063.1

5382.1 5864.0 5166.6


84/132

5623.1 5515.3

292.2 393.2

161.3 85.9

28320.2 26297.2

24165.4 23472.6 23257.8

23819.0 23365.2

5339.2 5917.2 7826.05628.2 6871.6

23566.1 22621.6

667.3 170.5

2748.3 1779.4

9149.5 9438.7

5856.8 5465.2 4598.4

5661 5031.8


85/132



1. Current Ratio

Current Assets 10,685.00 10,880.40

Current Liabilty 7,502.60 8,040.40


2.Quick Ratio

Current Assets 10,685.00 10,880.40

Inventory 4,144.50 5,028.50

Quick Assets 6,540.50 5,851.90




Current Assets 10,685.00 10,880.40


Net Working Capital 3,182.40 2,840.00

total assets 26,204.80 24,165.40




Net Income 190.50 667.30

Average Total Asset 25,185.10 23,819.00

ROA Ratio (%) 0.756 2.802


Net Income 190.50 667.30

Average Stockholder's Equity 5,548.75 5,628.20

ROE (%) 3.433 11.856



86/132

Sales 49,749.20 28,320.20

Cost Of Goods Sold 43,106.70 23,566.10

Profit Margin( %) 13.352 16.787


EBITDA 3,174.10 2,748.30

Net Sales 49,749.20 28,320.20




Sales 49,749.20 28,320.20Average Total Asset 25,185.10 23,819.00



Sales 49,749.20 28,320.20

Average Account Receivable 5,567.30 5,623.05


10. Days of Receivable Holding (DSO)




Cost Of Goods Sold 43,106.70 23,566.10

Average Inventory 4,586.50 4,357.20


12. Days of Inventory Holding (DIO)





87/132

Cost of Goods sold 43,106.70 23,566.10

average payable 5272.4 5661







15.Debt Ratio

Total Debt 11018.0 9149.5Total assets 26204.8 24165.4



Total Debt 11018.0 9149.5

Total Equity 5758.3 5339.2







SALES 49749.2 28320.2

CURRENT ASSET 10685.0 10880.4


19.Cash Ratio

Cash 419.9 292.2


Cash Ratio(%) 5.60 3.63

DUPONT ANALYSIS



88/132


ROA(%) 0.008 0.028

Net Profit AT/Total Assets(%) 0.008 0.028


ROE(%) 0.034 0.119


89/132

March,2007

10,049.30

7,663.40

1.31

10,049.30

3,685.90

6,363.40

7,663.40

0.830

10,049.30

7,663.40

2,385.90

23,472.60

0.102

170.50

23,365.20

0.730

170.50

6,871.60

2.481


90/132

26,297.20

22,621.60

13.977

1,779.40

26,297.20

6.766

26,297.2023,365.20

1.13

26,297.20

5,515.30

4.77

4.77

76.55

22,621.60

3,063.10

7.39

7.39

49.42


91/132

22,621.60

5031.8

4.50

4.50

81.19

44.79

9438.723472.6

0.40

9438.7

5917.2

1.60

22621.6

2385.9

9.48

26297.2

10049.3

2.62

393.2

7663.4

5.13

0.006


92/132

1.13

0.007

0.007

3.40

0.025


93/132

31-Mar-06

J K Tyre & Inds. Ltd.

Current liability & provisions 7013.7

Curret liability 6751.3

Sundry creditors 4598.4

Acceptances 87.6

Deposits & advances from customers & employees 0

Interest accrued 87.5Share application money 0

Other current liabilities 1977.8

Provision 262.4

Check for current liability OK

shareholders' equity 7826

Paid up equity capital (net of forfeited capital) 374.6

Forfeited equity capital 0

Paid up preference capital (net of forfeited capital) 0

Capital contibution, suspense and application money 0.5

Reserves & surplus 7451.4

TOTAL BORROWING 8305

Deferred tax liability 113.1

Total liability + shareholders' equity 23257.8

Net fixed assets 12356.1

Investments 2500.4

Deferred tax assets 143.6

Current assets 8022.1Cash & bank balance 361.1

Inventories 2440.3

Receivables 5166.6

Expenses paid in advance 54.1

Check for current assets OK

Loans & advances 106.2

Deferred revenue expenditure 129.4

Total assets 23257.8

Check for Balance sheet total OK

31-Mar-06

J K Tyre & Inds. Ltd.

Net income(PAT) 164.8

EBITDA 1398.4


94/132

interest expense 673.3


95/132

31-Mar-07 31-Mar-08 31-Mar-09

J K Tyre & Inds. Ltd. K Tyre & Inds. LtdK Tyre & Inds. Ltd.

7968.6 8399.4 8100.3

7663.4 8040.4 7502.6

5465.2 5856.8 4688

71.2 109.3 135.6

0 0 0

61.7 59.9 36.50 0 0

2065.3 2014.4 2642.5

305.2 359 597.7

OK OK OK

5917.2 5339.2 5758.3

307.9 307.9 410.6

0 0 0

0 0 0

0.3 0.3 0.3

5609.3 5031.3 5347.7

9438.7 9149.5 11018

148.1 1277.3 1328.2

23472.6 24165.4 26204.8

12467 12191.4 14090.7

614.6 626 897.5

164.2 224.1 211.5

10049.3 10880.4 10685393.2 292.2 419.9

3685.9 5028.5 4144.5

5864 5382.1 5752.5

106.2 177.6 368.1

OK OK OK

85.9 161.3 268

91.6 82.2 52.1

23472.6 24165.4 26204.8

OK OK OK

31-Mar-07 31-Mar-08 31-Mar-09

J K Tyre & Inds. Ltd. K Tyre & Inds. LtdK Tyre & Inds. Ltd.

170.5 667.3 190.5

1779.4 2748.3 3174.1


96/132

790.6 911 1614.2


97/132

Unit

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98/132

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99/132

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100/132

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101/132

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AnnualAnnual

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Annual

Annual

Annual

Annual

Annual


102/132

Expression

Contingent liabilities


Bills/cheques discounted

Letter of credit

Disputed taxesIncome tax

Excise

Custom duties

Sales tax

Others incl. octroi & local taxes

Disputed claims/others

Licence fees (telecom, etc.)

Lease rentals

Other claims / others

Total guarantees

Guarantees by company for othersGuarantees by company for group companies

Counter guarantees by company

Counter guarantees for group companies

Bonds issued in favour of govt. authorities, etc.

For disputed taxes

Income tax

Excise

Custom duties

Sales tax

Bonds issued by directors/promoters in their personal capacity

Bonds issued for other purposesLiabilities on account of non fulfilment of export obligation

Liabilities on account of forward foreign exchange contract

Contracts remaining to be executed on capital account

Claims against the company not acknowledged as debt

Other contingent liabilities

Contingent liabilities / Net worth

Current liabilities

Current liabilities & provisions

Sundry creditors

Sundry creditors for goods & services

Sundry creditors for capital worksOf which: sundry creditors from group / subsidiary cos.

Acceptances

Deposits & advances from customers & employees

Security deposits /trade deposits /dealer deposits

Advances from customers on capital account

Advances from customers on revenue account

Deposits from employees


103/132

7670

Interest accrued & due

Interest accrued but not due

Share application money/advances - oversubscribed /refundable amount

Other current liabilities

Provisions

Corporate tax provision

Other direct & indirect tax provisions

Provision for bad/doubtful advances & debts

Total dividend provisions

Dividend tax provision

Provision for employees

Other provisions

Liabilities

Net worth

Authorised capitalIssued equity capital

Paid up equity capital (net of forfeited capital)

Forfeited equity capital

Paid up preference capital (net of forfeited capital)

Capital contibution, suspense and application money

Reserves & surplus

Free Reserves

Security premium reserves (Net of deductions)

Other free reserves

Specific Reserves

Revaluation ReservesLess Accumulated losses

Total borrowings

Bank borrowings

Short term bank borrowings

Long term bank borrowings

Financial institutional borrowings

Central & state govt. (usually sales tax deferrals)

Debentures / bonds

Convertible

Non-convertible

Fixed depositsForeign borrowings

Of which : euro convertible bonds

Borrowings from corporate bodies

Group / associate cos.

Borrowings from promoters / directors

Commercial paper

Hire purchase borrowings

Deferred credit


104/132

Other borrowings

Secured borrowings

Unsecured borrowings

Current portion of long term debt

Current liabilities & provisionsSundry creditors

Acceptances

Deposits & advances from customers & employees

Interest accrued

Share application money

Other current liabilities

Provisions

Deferred tax liability

Total liabilities

Net worth (net of reval & DRE)


Long term liabilities

Borrowings

Secured borrowings

Secured bank borrowings

Secured short-term bank borrowings

Secured term bank borrowings

Secured financial institutional borrowings

Secured borrowings from central & state govt.

Secured borrowings syndicated across banks & institutions

Hire purchase loansDeferred credit

Debentures/ bonds

Non-convertible debentures/ bonds

Convertible debentures

Convertible warrants

Foreign currency borrowings

Loans from promoters /directors/shareholders (individuals)

Inter-corporate loans

Loans from subsidiary cos.

Loans from group/assoc. business enterprises

Loans from other business enterprises

Other secured borrowings

Unsecured borrowings

Fixed deposits

Unsecured Bank borrowings

Unsecured short-term bank borrowings

Unsecured term bank borrowings

Unsecured borrowings from financial insitutions

Unsecured borrowings syndicated across banks & institutions


105/132

Unsecured debentures/bonds

Deferred credit

Unsecured borrowings from central & state govt.

Foreign currency borrowings

Inter-corporate loans

Loans from subsidiary cos.

Loans from group & associate business enterprisesLoans from other business enterprises

Loans from promoters /directors/shareholders

Commercial papers

Other unsecured borrowings

Current portion of secured & unsecured long term debt

Current portion of secured borrowings (incl. deb. redmn.)

Current portion of unsecured borrowings

Shareholder's funds

Net worth

Authorised equity capital

Issued equity capitalSubscribed equity capital

Paid-up equity capital

Forfeited equity capital

Paid-up preference capital

Capital contibution, suspense & application money

Bonus share capital

Number of shares (in Lakhs)

Authorised equity shares

Issued equity shares

Subscribed equity shares (net)

Equity shares alloted without payment being received in cash

Call in arrears amount

From directors

From others

Reduction in equity capital

Reduction in equity capital (lakh shares)

Free reserves

Security premium reserves (net of deductions)

Other reserves

General reserves

Balance from profit & loss account

Specific reserves

Capital, debt, investment & other reserves

Debenture/bond redemption reserves

Foreign project reserves

Investment fluctuation reserve

Employee stock option reserve


106/132

Revaluation reserves

Accumulated losses

Revenue expenses directly charged to reserves

Sources & Uses of funds

Sources of funds

Internal sourcesRetained profits

Depreciation

External sources

Fresh capital

Share premium reserves

Borrowings

Bank/Fin. Inst. borrowings

Debentures & bonds

Borrowings from corporate bodies

Borrowings from group/associated cos

Foreign borrowingsLoan from promoters/directors

Other borrowings

Current liabilities & provisions

Sundry creditors

Deferred tax liability

Uses of funds

Gross fixed assets

Capital work-in-progress

Investments

Investment in group cos.

Current assetsInventories

Total receivables

Sundry debtors

Loans & advances

Loans & advances to group & associated cos

Expenses paid in advance

Cash & bank balance

Deferred tax assets

Total sources/uses


107/132

Mar-06 Mar-07 Mar-08 Mar-09

Apollo Tyres Ltd. Apollo Tyres Ltd. Apollo Tyres Ltd. Apollo Tyres Ltd.

1066.4 1441.7 6118.5 9142.8

0 0 0 0

0 0 1141.2 1563

357 335.8 535 461.9211 167.2 145.6 247.1

7 7 297.3 125.7

6.9 102.5 23.5 23.5

132.1 59.1 68.6 65.6

0 0 0 0

2.1 19.5 20.4 30.8

0 0 0 0

0 0 0 0

2.1 19.5 20.4 30.8

139 146.4 370.9 588.2

139 146.4 370.9 588.20 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 00 0 0 0

0 0 0 0

567.7 938.6 3882.9 6314.3

0.6 1.4 11.3 16.5

0 0 156.8 168.1

0.17 0.15 0.5 0.68

6262.5

6262.5 8313.3 9946.6 9397

3129.5 4032.9 4862.8 4242.9

3124.5 4032.9 4862.8 4242.9

5 0 0 00 2.6 0 8.2

664.9 1178.4 749.2 245

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0


108/132

69.2 45.2 25 88.1

0 0 0 0

69.2 45.2 25 88.1

0 0 0 0

22.7 165.5 21.3 25.4

2376.2 2891.3 4288.3 4795.6

1855.8 2337.5 3357.5 3839.3

0 0 0 0

0 0 0 0

172.5 0 252 226.8

24.2 0 42.8 38.6

52.8 143.1 204.9 206

270.9 410.7 431.1 484.9

6340.2 9671.2 12288.5 13557.1

480 730 730 730383.3 464 488.4 504

383.3 464 488.4 504

0.1 0.1 0.1 0.1

0 0 0 0

0 0 0 0

5956.8 9207.1 11800 13053

5837.9 9106.4 11717.4 12911.6

2172 4527.7 5218.8 5659.7

3665.9 4578.7 6498.6 7251.9

85.8 69.1 51 110.2

33.1 31.6 31.6 31.20 0 0 0

7500 6304.2 4652.2 6955.2

3957.7 4314.1 3375.8 1614.1

2957.7 3561.2 2875.8 1364.1

1000 752.9 500 250

535.8 428.7 321.5 214.3

0 0 0 0

66.7 150.5 45.7 1250

0 0 0 0

66.7 33.3 0 1250

0 0 0 01152.2 751.8 345.3 1912.4

0 0 0 0

225 165 105 545

0 0 0 0

0 0 0 0

700 0 0 1000

0 0 0 0

wcm project edited

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