Key

Financial ---------------
Ratios of ---- in Rs.
Bharat Cr.
Heavy ---------------
Electricals ----

Mar '06 Mar '07 Mar '08 Mar '09 Mar '10

Investment Valuation
Ratios

Face Value 10 10 10 10 10
Dividend
Per Share 14.5 24.5 15.25 17 23.3

Operating
Profit Per
Share (Rs) 90.85 144.84 76.54 85.43 122.49

Net
Operating
Profit Per
Share (Rs) 549.17 709.38 399.19 543.68 678.75

Free
Reserves
Per Share
(Rs) 267.56 348.8 209.99 254.23 315.11
Bonus in
Equity
Capital -- -- 50 50 50
Profitability Ratios
Operating
Profit
Margin(%) 16.54 20.41 19.17 15.71 18.04

Profit
Before Inte
rest And
Tax
Margin(%) 14.36 18.47 16.73 13.93 16.13
Gross
Profit
Margin(%) 18.11 22.41 17.65 14.45 16.66

Cash Profit
Margin(%) 13.97 14.88 15.59 12.1 13.8
Adjusted
Cash
Margin(%) 11.71 15.07 15.59 12.1 13.8
Net Profit
Margin(%) 12.19 13.51 13.87 11.36 12.55
Adjusted
Net Profit
Margin(%) 9.92 13.7 13.87 11.36 12.55

Return On
Capital
Employed(
%) 29.35 42.84 41.56 36.95 41.37
Return On
Net
Worth(%) 23 27.48 26.53 24.25 27.08

Adjusted
Return on
Net
Worth(%) 18.72 27.86 27.07 23.24 26.88

Return on
Assets
Excluding
Revaluatio
ns 8.23 359.06 220.1 264.32 325.16

Return on
Assets
Including
Revaluatio
ns 8.23 359.06 220.1 264.32 325.16

Return on
Long Term
Funds(%) 29.35 42.84 41.56 36.95 41.37
Liquidity And
Solvency Ratios
Current
Ratio 1.53 1.43 1.38 1.36 1.37
Quick
Ratio 1.17 1.13 1.09 1.02 1.04
Debt
Equity
Ratio 0.08 0.01 0.01 0.01 0.01

Long
Term Debt
Equity
Ratio 0.08 0.01 0.01 0.01 0.01
Debt Coverage Ratios
Interest Co
ver 39.28 87.78 127.55 157.51 198.19
Total Debt
to Owners
Fund 0.08 0.01 0.01 0.01 0.01

Financial
Charges C
overage R
atio 43.46 93.42 135.94 168.4 211.86
Financial
Charges C
overage R
atio Post
Tax 33.77 62.37 90.12 114.07 143.35
Management
Efficiency Ratios
Inventory
Turnover
Ratio 3.68 4.24 3.88 3.7 3.77
Debtors
Turnover
Ratio 2.05 2.06 1.8 1.9 1.81

Investment
s Turnover
Ratio 4.15 4.64 3.88 3.7 3.77

Fixed
Assets
Turnover
Ratio 11.87 14.62 4.48 5.2 5.15

Total
Assets
Turnover
Ratio 1.72 1.97 1.81 2.05 2.09
Asset
Turnover
Ratio 3.54 4.27 4.48 5.2 5.15

Average
Raw
Material
Holding 75 78.98 88.75 80.96 83.34

Average
Finished
Goods
Held 11.47 10.27 12.03 9.74 9.8

Number of
Days In
Working
Capital 178.86 157.05 169.89 140.04 130.02
Profit & Loss
Account Ratios

Material
Cost
Compositio
n 52.81 49.3 53.22 58.56 53.42

Imported
Compositio
n of Raw
Materials
Consumed 28.71 30.94 27.73 27.81 35.15
Selling
Distribution
Cost
Compositio
n 1.45 1.27 1.22 1.09 1.06

Expenses
as
Compositio
n of Total
Sales 5.27 6.31 4.8 6.7 24.87
Cash Flow Indicator
Ratios

Dividend
Payout
Ratio Net
Profit 24.09 28.67 30.54 31.02 30.9

Dividend
Payout
Ratio Cash
Profit 21.02 26.04 27.66 28.03 27.93
Earning
Retention
Ratio 70.4 71.73 70.07 67.63 68.88

Cash
Earning
Retention
Ratio 74.91 74.3 72.83 70.87 71.89
AdjustedC
ash Flow
Times 0.35 0.03 0.03 0.04 0.03

Mar '06 Mar '07 Mar '08 Mar '09 Mar '10

Earnings
Per Share 68.6 98.66 58.41 64.11 88.06

Book Value 298.31 359.06 220.1 264.32 325.16