Standalone Profit and Loss Statement Blue Star Mar-16 Mar-15

Standalone Profit and Loss Statement
Net revenue from operations

Other income
Total Revenue
Expenses
Cost of material consumed
Purchase of stock-in-trade
Change in inventories of FG, WIP& stock-in-trade
Employee benefit expenses
Finance costs
Depreciation and amortisation
Other expenses
Cost of Mfd/purchased for own use
Total expenses
Profit before exceptional items and tax
Add: Exceptional items
PBT
Current tax
MAT credit availed of
Tax for earlier years
Deferred tax (Net)
Net profit for the year
Dividend (%)
Dividend
Tax on Dividend
Per share data (in Rs.)
Dividend Per Share
Earnings per share
Book Value per share
Market price per share
Standalone Balance Sheet
Equity & Liabilities
Share capital
Share capital suspense account
Reserves & Surplus
Total Shareholders' fund
Minority Interest
Non-current Liabilities
Long term borrowings
Trade payables
Deferred tax liabilities (Net)
Other long term liabilities
Long term provisions
Blue Star
Mar-16
Mar-15
353,150.37
308,079.44
1,586.95
1,014.33
354737.32
309093.77
183,789.66
171,193.35
65,085.62
42,996.26
-6,129.21
-835.07
32,403.69
25,684.38
3,570.89
4,347.32
5,428.15
3,933.60
58,738.20
51,681.88
0
342887
11850.32
0
299001.72
10092.05
3,007.72
4,190.26
14858.04
3378.71
14282.31
77
3,178.58
0.00
-720.7
-1,497.00
12,277.03
325
15,252.82
250
5,846.82
4,496.80
1262
915
6.5
12.88
16.96
74.9
69.5
492
Blue Star
Mar-16
Mar-15
1,799.02
1,798.72
17,257.28
0.00
65,571.12
60,709.74
84,627.42
0
62,508.46
0
0.00
0.00
0.00
839.58
448.98
3,705.07
Current liabilities
Short term borrowings
Trade payables
Total outstanding duies of MSMEs
Total outstanding dues of other than MSMEs
Other current liabilities
Short term provisions
448.98
28,566.82
33,191.82
103,472.62
84,083.07
0
0
0
0
103,472.62
84,083.07
36,589.04
31,124.15
3,062.22
7,900.10
171,690.70 156,299.14
257,157.70 219,256.58
Total
Assets
Fixed Assets
Tangible assets
Intangible assets
Capital work in progress
Intangible assets under development
Goodwill on consolidation
Non current investments
Deferred Tax Assets (net)
Trade receivables
Long term loans and advances
Other non-current assets
Current Assets
Current investments
Inventories
Trade receivables
Cash and Bank Balances
Short term loans and advances
Other current assets
Total
NCA
839.58
18,937.36
19,581.70
3,853.07
2,168.24
626.42
247.94
1,007.40
1,993.51
24424.25
23991.39
29,601.79
23,185.79
2,223.84
1,646.52
4,835.02
6,734.25
18,281.89
13,310.21
334.99
108.49
55,277.53
79701.78
44,985.26
68976.65
15,806.83
51,547.69
46,282.87
71,266.52
64,076.67
4,245.66
3,633.49
10,044.22
10,543.15
24,545.00
25,744.15
177455.92
257157.7
5765.22
150280.33
219256.98
-6018.81
Voltas
Mar-16
Change
0.3
17,257.28
4,861.38
22118.96
0
0
0
0
390.6
Mar-15
518748.09
516894.86
16508.96
14911.44
535257.05
531806.3
176178.08
161980.81
210496.83
226011.29
9769.88
1481.53
41461.96
46785.37
806.46
1625.22
1913.83
2245.45
51089.26
50142.54
0
491716.3
43540.75
0
490272.21
41534.09
3275.81
1818.33
46816.56
43352.42
15158
11254
-20
-20
-1619.74
-812.05
33298.3
260
8603
1751
32930.47
225
7445
1516
2.6
2.25
10.06
9.95
62.9
1209
Voltas
Mar-16
3307.52
Table-1: Cash Flow Statements: Total Cash B

Blue Star
Sources of Cash
1
1
2
3
5
6
7
9
12
13
14
Intangible assets under develop
15
Uses of Cash
1
2
3
4
5
6
7
8
9
10
11
12
55.6
1187
10
Mar-15
3307.48 Change
204566.64
180644.14
207874.16
0
183951.62
0
0
2634.63
1871.45
10313.79
9341.78
Surplus/(deficit) =Sources of cash-Uses of ca

0.04 Inc in Cash & BB (as per Balance Sheet)
0
23922.5
23922.54 Table-2.Amplified CF Statements
0
Blue Star
0 Sources of Cash
0
0
1
763.18
2
390.6
12948.42
11213.23
-4625
19389.55
0
0
19389.55
5464.89
-4837.88
15391.56
37901.12
11948.5
5305.83
-644.34
1684.83
378.48
-986.11
432.86
6416
577.32
-1899.23
4971.68
226.5
10292.27
10725.13
15806.83
5264.82
7189.85
612.17
-498.93
-1199.15
27175.59
37900.72
11784.03
972.01
1735.19
6642.67
4604.58
471.81
135889.88
145167.47
140494.46
145639.28
47404.56
56450.1
26268.42
22215.85
226115.94
446938.52
229611.06
424775.91
17428.83
14743.97
776.04
831.88
108.77
442.17
0
18313.64
0
16018.02
98743.87
75701.79
5283.6
3673.53
12002.19
13487.23
8076.6
7474.27
124106.26
142419.9
100336.82
116354.84
66674.07
46698.27
59443.68
69148.82
101792.22
114957.64
13231.44
14839.21
14267.73
14691.42
49109.48
48085.71
304518.62
446938.52
78402.68
308421.07
424775.91
78810.01
4132.77
-9277.59
-5144.82
-9045.54
4052.57
-3495.12
22162.61
3
4
5
6
7
8
9
10
11
12
2684.86 Uses of Cash

-55.84
1
-333.4
2
0
3
2295.62
4
5
0
23042.08
6
1610.07
7
0
-1485.04
8
602.33
9
23769.44
10
26065.06 SUM
19975.8 Surplus/(deficit) =Sources of cash-Uses of ca

-9705.14 Inc in Cash & BB (a
-13165.42
-1607.77 Exp inc in R&S =PAT-Div-DDT
-423.69 Actual inc (as per Balance Sheet)
1023.77 Addl inc/(dec)=Actual Inc-Exp inc
-3902.45
22162.61
Table-4: CF Statements-WC Basis
-407.33
Blue Star
1
2
3
4
5
SUM
Total sources of WC
Uses of WC for other than WC purposes
1
2
3
4
5
6
Total uses for Non-WC purpose
Funds available/(Released) for/from WC
Changes in WC components
Component
1
2
3
4
5
6
7
8
9
10
Net Dec in WC
WORKING Capital Gap =CA-CL(Except ST Borrowin

Is there a case of short-term funds
diverted to long-te
sh Flow Statements: Total Cash Basis

Voltas
Sources of Cash
Share capital
Reserves and Surplus
Trade payables
Tangible assets
Trade receivables
Total
0.3
4861.38
0
390.6
19389.55
5464.89
-498.93
-1199.15
17,257.28
-644.34
-986.11
-1899.23
52,591.76
1
2
3
5
6
7
8
9
10
11
12
14
15
Intangible assets
Current investments
Inventories
Trade receivables
Total
eficit) =Sources of cash-Uses of cash

& BB (as per Balance Sheet)
-4625
-4837.88 Uses of Cash
1684.83
378.48
1al outstanding dues of other than MSMEs
6416
2
577.32
3
4971.68
4
226.5
5
15806.83
6
5264.82
7
7189.85
8
0
51979.19
612.57
612.17
mplified CF Statements
Voltas
Sources of Cash
Share capital
PAT
0.3
12,277.03
0
1
2
3

Trade payables
Tangible assets
Trade receivables
depreciation
390.6
19389.55
5464.89
-498.93
-1199.15
17257.28
-644.34
-986.11
-1899.23
5,428.15
5
6
7
8
9
10
11
12
13
14
15
Total
65,435.56
depreciation
Intangible assets
Current investments
Inventories
Trade receivables
dividend and tax
Total
Uses of Cash
5,428.15
1
-4625
2
-4837.88
3
1684.83
4
378.48
5
6416
6
577.32
7
4971.68
8
226.5
9
15806.83
5264.82
7189.85
7,108.82
64,516.16
eficit) =Sources of cash-Uses of cash

Difference
&S =PAT-Div-DDT
s per Balance Sheet)
c)=Actual Inc-Exp inc
919.40 Surplus/(deficit) =Sources of cash-Uses of cas

612.17 Inc in Cash & BB
307.23
5,168.21 Exp inc in R&S =PAT-Div-DDT
4,861.38 Actual inc (as per Balance Sheet)
306.83 Addl inc/(dec)=Actual Inc-Exp inc
able-4: CF Statements-WC Basis
Share capital
Reserves and Surplus
Voltas
0.3 Sources of WC
4861.38
1
0
2
390.6
3

Tangible assets
es of WC
C for other than WC purposes
Intangible assets
for Non-WC purpose
lable/(Released) for/from WC
WC components
Trade payables
Trade receivables
Current investments
Inventories
Trade receivables
Cash and bank balance
apital Gap =CA-CL(Except ST Borrowing)

case of short-term funds
No
17,257.28
-644.34
-986.11
5
9
10
11
24,140.01
Uses of WC for other than WC purposes
1684.83
3
378.48
4
6416
5
577.32
6
4971.68
226.5
14254.81
9,885.20
Change
Changes in WC components
19389.55 inc
5464.89 inc
-498.93 inc
-1199.15 inc
-1899.23 inc
-4625 dec
-4837.88 dec
15806.83 dec
al outstanding dues of other than MSMEs
5264.82 dec
7189.85 dec
612.17 dec
-9884.8
26181.04

diverted to long-term purpose?
Note-1:
Share capital
Reserves & Surplus
Intangible assets
short term loans and advances
Trade receivables
Inventories
Total

Tangible assets
Current investments
Total
Definition of sources and uses of cash
0.04 Sources of cash

23922.5 Inc in liab & equity
763.18 Dec in assets
972.01 Required:
4132.77 Based on the above definition , classify changes in all itm
6642.67 into source/use of cash and complete table-1. As given in
4052.57 11 and 14 sources of cash for Maruti and M&M, respecti
-1485.04 cash for Maruti and M&M, respectively.
-333.4 Sum of the sources and uses are given for self verificatio
-55.84
-423.69
-13165.42
-9705.14
65654.27
-9277.59
-9045.54
2684.86
23042.08
1610.07
602.33
19975.8
1023.77 Note-2: In amplified cash flow statement, all the items o
reserves & surplus change in fixed assets, remain same
As, in general, change in res&surplus should be same as
67262.04 instead of change in res & surplus, PAT is taken as source
-1607.77 and dividend (including DDT) is taken as use of cash. Sim
-1607.77 fixed asset is samd as change in gross fixed assets less d
in NFA change is GFA (NFA+Dep) is reported as use of ca
Table-3: Changes in Res & Surplus components

Maruti Suzuki
depreciation
Share capital
PAT
1913.83
0.04
33298.3 Capital Reserves
763.18 Gen Reserves
Mar-16
0
2930.9

972.01 Sec Premium Reserves
424.1
4132.77 Revaluation Reserves
0
6642.67 Debenture redem Res
0
4052.57 Inv fluctuation res
0
-1485.04 Hedging res
7.2
-333.4 ESOP Res
0
Intangible assets
-55.84 Forex Translation
0
-423.69 P&L Sruplus
22578.6
0
0
Net Change
Trade receivables
-13165.42
Inventories
-9705.14 Note-3: Complete the details of Reserves& Surplus in tab
total
76943.9
Total outstanding dues of other

Gross fixed assets
Current investments
dividend and tax
-9277.59
-9045.54
4598.69
23042.08
1610.07
602.33
19975.8
1023.77
10354
79,529.87 Note-4: All the sources of long-term nature (non-current

are sources available to meet working capital needs. All
(deficit) =Sources of cash-Uses of cas
-2585.97 of long-term nature are uses of cash for non-working cap
Difference
-1607.77 between total sources and total uses should reflect the c
-978.2 during the year. Net changes in WC components should
R&S =PAT-Div-DDT
22944.3 in WC.
c (as per Balance Sheet)
23922.5 To complete table-4, copy all long term sources of cash
dec)=Actual Inc-Exp inc
-978.2 from table -1 under sourcs of WC and Uses of WC, respe
find the net diference, which is termed as funds availab
oro funds released from WC (if it is negative)
Now, copy all sources and use
(change in current asset and c
Changes in WC components' a
Share capital
0.04
if the change results into decr
Reserves & Surplus
23922.5
if the change results into incre
763.18
If the sources of WC > uses of

Intangible assets
972.01
-1485.04
-333.4
-55.84
thererore, sum of inc in WC co

sum of dec in WC WC compon
this should be same as dif of
No of sources /uses of WC and
Sum of the same are also give
27532.01
WC for other than WC purposes

Tangible assets
This statement help to find if s

diverted to fund long term ass
2684.86
23042.08
1610.07
602.33
27939.34
-407.33
in WC components
Impact
4132.77 inc
6642.67 inc
4052.57 inc
-423.69 inc
Trade receivables
-13165.42 inc
Inventories
-9705.14 inc
-9277.59 dec
-9045.54 dec
Current investments
19975.8
dec
1023.77
dec
Cash and bank balances
1607.77 dec
net dec in WC
407.33
diverted to long-term purpose?
Yes
rces and uses of cash

Uses of cash
Decrease in liab&equity
Inc in assets
on , classify changes in all itmes, except Cash & BB,

complete table-1. As given in the table there are
or Maruti and M&M, respectively. Similarly, there are 9 and 10 uses of
espectively.
s are given for self verificatio n
ow statement, all the items of table-1 , except change in

in fixed assets, remain same.
s&surplus should be same as retained earnings,
urplus, PAT is taken as source of cash
T) is taken as use of cash. Similarly, change in net
ge in gross fixed assets less depreciation, instead of change
Dep) is reported as use of cash and depreciation is taken as source of cash. Based on these changes, complete
& Surplus components

M&M Ltd
Mar-15 Change
0
2473.8
0
457.1
Mar-16
Mar-15 Change
10.13
1730.36
10.13
1730.44
0
-0.08
et Change
424.1
0
0
0
3.2
0
0
19736.8
0 2334.02 2280.44
0
10.79
10.79
0
7.5
105.01
0
0
64.59
4
2.34
-18.53
0
147.92
106.59
0
-4.95
-79.58
2841.8 17172.76 14749.51
3302.9
53.58
0
-97.51
-64.59
20.87
41.33
74.63
2423.25
2451.48
s of Reserves& Surplus in table-3 by referring to relevant notes to financial statements from the annual reports
ng-term nature (non-current account related)

et working capital needs. All the uses of cash
s of cash for non-working capital purpose. Dif
otal uses should reflect the change in WC
s in WC components should be same as net change
ll long term sources of cash and long term uses of cash

of WC and Uses of WC, respectively and
ch is termed as funds available for WC (if it is positive)
(if it is negative)
ow, copy all sources and uses of cash of short-term natuire
change in current asset and current liability items, incl cash&BB) under
hanges in WC components' and classify the change as 'decrease'
the change results into decrease in NWC , similarly as 'increase'
the change results into increase in NWC.
the sources of WC > uses of WC, it is case of inc in NWC,
hererore, sum of inc in WC components should be more than

um of dec in WC WC components. Find the diference ,
his should be same as dif of sources and uses of WC
o of sources /uses of WC and no of changes in WC components are given in table.
um of the same are also given for self verification.
his statement help to find if short term funds are

iverted to fund long term assets.
hese changes, complete table-2 to prepare Amplified CF Statement.
from the annual reports of Maruti and M&M

Other income
Total Revenue
Expenses
Finance costs
Other expenses
Total expenses
PBT
Current tax
Deferred tax (Net)
Dividend (%)
Dividend
Tax on Dividend
Dividend Per Share
Earnings per share
Share capital
Reserves & Surplus
Blue Star
Mar-16
Mar-15
353,150.37
308,079.44
1,586.95
1,014.33
354737.32 309093.77
183,789.66
171,193.35
65,085.62
42,996.26
-6,129.21
-835.07
32,403.69
25,684.38
3,570.89
4,347.32
5,428.15
3,933.60
58,738.20
51,681.88
0
0
342887 299001.72
11850.32
10092.05
3,007.72
4,190.26
14858.04
3378.71
14282.31
77
3,178.58
0.00
3,705.07
-720.7
-1,497.00
12,277.03
325
15,252.82
250
5,846.82
4,496.80
1262
915
6.5
12.88
16.96
74.9
69.5
492
369
Blue Star
Mar-16
Mar-15
1,799.02
1,798.72
17,257.28
65,571.12
60,709.74
84,627.42
62508.46
0
0
0
0
0
0

Current liabilities
Trade payables
Total
Assets
Fixed Assets
Tangible assets
Intangible assets
Deferred tax assets (net)
Trade receivables
839.58
448.98
839.58
448.98
28,566.82
33,191.82
103,472.62
84,083.07
0
0
0
0
103,472.62
84,083.07
36,589.04
31,124.15
3,062.22
7,900.10
171690.7 156299.14
257157.7 219256.58
18,937.36
19,581.70
3,853.07
2,168.24
626.42
247.94
1,007.40
1,993.51
24424.25
0
23991.39
0
29,601.79
23,185.79
2,223.84
1,646.52
4,835.02
6,734.25
18,281.89
13,310.21
334.99
108.49
55,277.53 44,985.26
Total Non-current assets 79701.78 68976.65
Current Assets
Current investments
Inventories
Trade receivables
Shortterm loans and advances
Total
15,806.83
51,547.69
46,282.87
71,266.52
64,076.67
4,245.66
3,633.49
10,044.22
10,543.15
24,545.00
25,744.15
Total Current assets 177455.92 150280.33

257157.7 219256.98
Table-1: Common Size P&L

Table-2: Common Base P&L
Voltas
Blue Star
Voltas
Blue Star
Mar-16 Mar-15 Mar-16 Mar-15 Mar-16 Mar-15
Mar-16
99.55%
99.67%
96.92%
97.20%
114.63%
518748.09 516894.86
0.45%
0.33%
3.08%
2.80%
156.45%
16508.96
14911.44
535257.1 531806.3 100.00% 100.00% 100.00% 100.00%
114.77%
176178.08
161980.81
210496.83
226011.29
9769.88
1481.53
41461.96
46785.37
806.46
1625.22
1913.83
2245.45
51089.26
50142.54
0
0
491716.3 490272.2
43540.75 41534.09
3275.81
1818.33
46816.56 43352.42
15158
11254
-20
-20
-1619.74
-812.05
33298.3 32930.47
260
225
8603
7445
1751
1516
2.6
2.25
10.06
9.95
51.81%
18.35%
-1.73%
9.13%
1.01%
1.53%
16.56%
0.00%
96.66%
3.34%
0.85%
4.19%
55.39%
13.91%
-0.27%
8.31%
1.41%
1.27%
16.72%
0.00%
96.73%
3.27%
1.36%
4.62%
32.91%
39.33%
1.83%
7.75%
0.15%
0.36%
9.54%
0.00%
91.87%
8.13%
0.61%
8.75%
30.46%
42.50%
0.28%
8.80%
0.31%
0.42%
9.43%
0.00%
92.19%
7.81%
0.34%
8.15%
107.36%
151.38%
733.98%
126.16%
82.14%
137.99%
113.65%
0.95%
0.02%
-0.20%
3.46%
1.20%
1.03%
-0.48%
4.93%
2.83%
0.00%
-0.30%
6.22%
2.12%
0.00%
-0.15%
6.19%
91.19%
2.42%
48.14%
80.49%
114.68%
117.42%
104.03%
62.9
55.6
Table-4
Table-5
345
272 Common Size Balance Sheet
Common Base Balance Sheet
Voltas
Blue Star
Voltas
Blue Star
Mar-16 Mar-15 Mar-16 Mar-15 Mar-16 Mar-15
Mar-16
0.70%
0.82%
0.74%
0.78%
1.00
3307.52
3307.48
0
0
25.50%
27.69%
45.77%
42.53%
1.08
204566.64 180644.14
207874 183952
32.91%
28.51%
46.51%
43.31%
1.35
0
0
0
0
2634.63
1871.45
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.59%
0.00%
0.00%
0.44%
10313.79
9341.78
12948.4 11213.2
11948.5
5305.83
4604.58
471.81
135889.88
145167.47
140494
145639
47404.56
56450.1
26268.42
22215.85
226116
446939
229611
424776
17428.83
14743.97
776.04
831.88
108.77
442.17
0
18313.6
0
16018
98743.87
75701.79
5283.6
3673.53
12002.19
13487.23
8076.6
7474.27
124106
142420
100337
116355
66674.07
46698.27
59443.68
69148.82
101792.22
114957.64
13231.44
14839.21
14267.73
14691.42
49109.48
48085.71
304519
446939
308421
424776
0.33%
0.33%
0.00%
11.11%
0.20%
0.20%
0.00%
15.14%
2.31%
2.90%
0.00%
2.67%
2.20%
2.64%
0.00%
1.25%
1.87
1.87
0.00%
0.00%
40.24%
14.23%
1.19%
66.76%
100.00%
0.00%
0.00%
38.35%
14.20%
3.60%
71.29%
100.00%
1.03%
30.40%
31.43%
10.61%
5.88%
50.59%
100.00%
0.11%
34.18%
34.29%
13.29%
5.23%
54.05%
100.00%
7.36%
1.50%
0.24%
0.39%
9.50%
0.00%
11.51%
0.86%
8.93%
0.99%
0.11%
0.91%
10.94%
0.00%
10.57%
0.75%
3.90%
0.17%
0.02%
0.00%
4.10%
0.00%
22.09%
1.18%
3.47%
0.20%
0.10%
0.00%
3.77%
0.00%
17.82%
0.86%
0.97
1.78
2.53
7.11%
0.13%
21.50%
30.99%
0.00%
6.15%
20.05%
27.71%
1.65%
3.91%
9.54%
69.01%
100.00%
6.07%
0.05%
20.52%
31.46%
0.00%
0.00%
21.11%
29.22%
1.66%
4.81%
11.74%
68.54%
100.00%
2.69%
1.81%
27.77%
31.87%
0.00%
14.92%
13.30%
22.78%
2.96%
3.19%
10.99%
68.13%
100.00%
3.18%
1.76%
23.62%
27.39%
0.00%
10.99%
16.28%
27.06%
3.49%
3.46%
11.32%
72.61%
100.00%
1.37
3.09
1.23
1.16
0.86
1.23
1.18
0.39
1.10
1.17
1.02
1.28
1.11
1.11
1.17
0.95
0.95
1.18
1.17
Table-3
: Common Base P&L
Common Size & Base P&L
Voltas
Blue Star
Voltas
Mar-16
Mar-16
Mar-16
100.36%
99.88%
99.71%
110.71%
136.32%
110.00%
100.65%
100.00%
100.00%
108.76%
93.14%
659.45%
88.62%
49.62%
85.23%
101.89%
93.54%
131.90%
639.54%
109.93%
71.57%
120.24%
99.03%
108.06%
92.54%
655.19%
88.05%
49.30%
84.68%
101.23%
100.29%
104.83%
180.15%
107.99%
99.92%
102.31%
99.65%
104.16%
178.99%
107.29%
134.69%
79.46%
2.11%
41.95%
70.13%
199.46%
101.12%
90.65%
133.82%
198.18%
100.47%
Table-6
on Base Balance Sheet
Common Size & Base BS
Voltas
Blue Star
Voltas
Mar-16
Mar-16
Mar-16
1.00
0.85
0.95
1.13
1.13
1.41
0.92
1.15
1.08
1.07
1.34
1.10
1.15
1.59
1.59
1.05
1.10
2.25
0.73
2.14
9.76
0.94
0.96
0.84
1.18
0.98
1.05
1.05
1.00
0.33
0.94
1.00
9.28
0.89
0.92
0.80
1.12
0.94
1.00
1.18
0.93
0.25
0.82
1.52
2.15
1.12
0.89
0.23
1.14
0.87
1.09
1.30
1.09
1.24
0.89
1.08
1.24
1.22
1.17
2.63
1.05
0.99
0.85
1.03
1.18
1.16
0.95
0.95
1.00
0.81
0.81
1.01
1.00
1.36
0.82
0.84
0.85
0.92
0.97
0.94
1.00
1.43
0.86
0.89
0.89
0.97
1.02
0.99
1.05
Other income
Total Revenue
Blue Star
Mar-16
Mar-15
353,150.37
308,079.44
1,586.95
1,014.33
354737.32 309093.77
Expenses

183,789.66
171,193.35
65,085.62
42,996.26
-6,129.21
-835.07
32,403.69
25,684.38
Finance costs
3,570.89
4,347.32
5,428.15
3,933.60
58,738.20
51,681.88
Other expenses
Total expenses
342887 299001.72
11850.32
10092.05
3,007.72
4,190.26
PBT
14858.04
14282.31
3378.71
3,705.07
77
3,178.58
0.00
-720.7
-1,497.00
12,277.03
15,252.82
325
250
5,846.82
4,496.80
1262
915
Dividend Per Share
6.5
Earnings per share
12.88
16.96
74.9
69.5
492
369
Current tax

Deferred tax (Net)

Dividend (%)
Dividend
Tax on Dividend


Share capital
Blue Star
Mar-16
Mar-15
1,799.02
1,798.72
17,257.28
0.00
Reserves & Surplus
65,571.12
60,709.74
84,627.42
62508.46
0.00
0.00
Trade payables
0.00
839.58
448.98
839.58
448.98
28,566.82
33,191.82
103,472.62
84,083.07
0
0
0
0
103,472.62
84,083.07
36,589.04
31,124.15
3,062.22
7,900.10

Current liabilities
Trade payables
Total
Assets
Fixed Assets
Tangible assets
Intangible assets
171690.7 156299.14
257157.7 219256.58
18,937.36
19,581.70
3,853.07
2,168.24
626.42
247.94
1,007.40
1,993.51
24424.25
23991.39
Deferred tax assets (net)
Trade receivables
29,601.79
23,185.79
2,223.84
1,646.52
4,835.02
6,734.25
18,281.89
13,310.21
334.99
108.49
55,277.53 44,985.26
79701.78 68976.65
Current Assets
Current investments
Inventories
Trade receivables
Shortterm loans and advances
Total
15,806.83
51,547.69
46,282.87
71,266.52
64,076.67
4,245.66
3,633.49
10,044.22
10,543.15
24,545.00
25,744.15
177455.92 150280.33
257157.7 219256.98
Voltas
Mar-16 Mar-15
518748.09
516894.86
16508.96
14911.44
535257.1 531806.3
176178.08
161980.81
210496.83
226011.29
9769.88
1481.53
41461.96
46785.37
806.46
1625.22
1913.83
2245.45
51089.26
50142.54
491716.3 490272.2
43540.75 41534.09
3275.81
1818.33
46816.56 43352.42
15158
11254
-20
-20
-1619.74
-812.05
33298.3 32930.47
260
8603
225
7445
1751
1516
2.6
2.25
10.06
9.95
62.9
345
55.6
272
Voltas
Mar-16
Mar-15
3307.52
3307.48
204566.64
180644.14
207874
183952
2634.63
1871.45
10313.79
9341.78
12948.4 11213.2
11948.5
5305.83
4604.58
471.81
135889.88
145167.47
140494
145639
47404.56
56450.1
26268.42
22215.85
226116
446939
229611
424776
17428.83
14743.97
776.04
831.88
108.77
442.17
0
18313.6
0
16018
98743.87
75701.79
5283.6
3673.53
12002.19
13487.23
8076.6
7474.27
124106
142420
100337
116355
66674.07
46698.27
59443.68
69148.82
101792.22
114957.64
13231.44
14839.21
14267.73
14691.42
49109.48
48085.71
304519
446939
308421
424776
Financial Ratios
A. Short-term Liquidity Ratios
1. Current Ratio =CA/CL
2. Quick Ratio =(CA-Inventory)/CL

3. Cash Ratio =Cash & BB/CL
4.NWC to TA Ratio =(CA-CL)/TA
5. Interval ratio =CA/Avg daily cost

B. Long-term Liquidity Ratios
1. Total Debt Ratio =(TA-TE)/TA
2.Debt-Equity Ratio =Total Debt/TE
3.Equity Multiplier =TA/TE
4.Times Interest Earned (TIE) Ratio=PBIT/I
5.Cash Coverage Ratio =EBITDA/I

C.Asset Turnover Ratios
1 a). Inventory Turnover Ratio(ITR) =NS/Inventory
1. b). Days' sales in inventory =365/ITR
2. a) Receivables Turnover Ratio (RTR) =NS/Trade Receivables
2. b). Days' sales in receivables =365/RTR

3.a). Payables Turnover Ratio =COGS*/Trade Payables
3.b) Days' COGS in Payables = 365/PTR

4. NWC turnover ratio =NS/NWC
5. CA Turnover Ratio =NS/CA

6. FA Turnover Ratio =NS/NFA
7. Total Asset Turnover Ratio (TATR) =NS/TA
D. Profitability Ratios
1. Gross profit margin (GPM)=Gross profit/NS = (NS-COGS*)/NS
2. Operating Profit Margin(OPM) =PBIT/NS
3. Net Profit Margin (NPM) =NP/Total Revenue

4. Adj NPM = (NP-Exceptional items)/Total Revenue
5. Return on Equity (ROE) =NP/TE

ROE Analysis
a).PBIT/Net Rev from Ope (impact of profitable operations)

b).PBT/PBIT (Impact of finance cost)
c). Net profit available to shareholders/PBT (Impact of tax)

d) .TA/TR (Impact of efficiency in using assets)
e).TA/SF (Impact of borrowing)
Return of Equity = Product of the above ratios

E. Valuation Ratios
1.Price- Earnings (P/E) Ratio =Market price per share/Earnings per share
2.Price-sales(P/S) ratio =MP per share/Sales per share
3.Pric-book (P/B) ratio =MP per share/BV per share

4. Dividend yield (DY)= DPS/beginning price per share
5. Capital gain (CG)=(end price per share-beginning price per share)/beg price
6. Total Return to Shareholders=DY+CG

7. Absolute Gain
Blue Star
Mar-16 Mar-15
Voltas
Mar-16 Mar-15
1.033579 0.961492 1.346737 1.343233
0.733343 0.665374 1.083846 1.042076

0.024729 0.023247 0.058516 0.064628
0.022419 -0.027451 0.175422 0.185533
81.18521 71.50009 70.76299 69.48181
0.670912 0.714908 0.534893 0.566944
2.038704 2.507637 1.150044 1.309172
3.038704 3.507637 2.150044 2.309172
4.31859 3.321442 54.98997 26.55598
5.838701 4.226275 57.36309 27.93761
6.850945 6.656446 8.726716 7.475107
53.27732 54.83406 41.82559 48.82873
4.955347 4.807981 5.096147 4.496394
73.6578 75.91543 71.62274 81.17616

3.261335 3.509245 3.486276 3.350928
111.9174
104.011 104.6962
108.925
61.25532 -51.1861 6.616459 6.558746
1.990074 2.050032 1.703502 1.675939

14.45901 12.84125 28.32578 32.26959
1.373283 1.405107
1.16067 1.216865
0.054544 0.056345 0.057354 0.058993
0.043668 0.046869 0.085489 0.083497
0.034609 0.049347
0.0261
0.0358
0.06221 0.061922
0.0561
0.0585
0.145072 0.244012 0.160185 0.179017
0.052184
0.06047 0.091804 0.087015
0.806235 0.766645 0.983066 0.963866
0.826289 1.067952
0.71125 0.759599
1.373283 1.405107
1.16067 1.216865
3.038704 3.507637 2.150044 2.309172
0.14507 0.24401 0.16018 0.17902
38.19876 21.75708 34.29423 27.33668
1.327954 1.077179 2.201338 1.741572
6.568758 5.309353
5.48926 4.892966
0.013039 0.013369
0.00748 0.008204
0.333333 -0.061069 0.268382 0.011152
0.346372
123
-0.0477 0.275862 0.019357

-24
73
3
Interpretation
Blue Star
Ability of firms to payof short term loans. Ideal level is
1.3. Company has seen an increase in 2016 with increase
in CA compensating for increase in CL
Ability of firms to payof short term loans without
considering inventory. No significant change
Check for current liabilities against the most liquid asset
available. No significant change
Company has managed to turn around its working capital
which has resulted in a positive ratio
Number of days current asset will survive before new
investment, More working capital involved in 2016 which is
not a good sign
Ability of firms to pay their debts. It has seen a decrease
mainly due to increase in the total equity
This value depends on the industry though a lower value is
always preferred
A high number indicates that more of company's assets are
financed through debt which is more appropriate if the
company is making profits but in this case the company
has lost some profit
Shows how many times a company is able to cover up its
interest. A higher number shows a healthy financial
condition which in this case is shown by a decreasing
finance cost
Depreciation is non cash expense which was deducted in
TIE and since interest is a cash outflow, Cash coverage
ratio gives better picture of interest obligation coverage, it
has increased in 2016
Number of times inventory was turned over in the year, No

significant change in 2016
It gives the measure of average days sales in inventory,
i.e. number of days on average inventory sits before it is
sold, no significant change in 2016
Gives a measure of how fast payments are collected by the
company, No significant change in 2016
Gives a measure of number of days in which payment is

collected by the company, also known as Average
collection period, No significant change in 2016
Gives a measure of how fast payments are done by the
company. It has deteriorated over the past year
made by the company. Decrease in the productivity of the
payments department
Amount of sales generated from working capital, Increased
significantly in 2016 which is a good sign
Gives a measure of total sales generated from available
current assets. Efficiency in using current assets has
decreased slightly.
fixed assets, increase in 2016
assets, No significant change in 2016
Gross profit generated from regular operations of the
Gives a measure of profit margin generated from
operations of the company, No significant change in 2016
Gives Net profit margin of the company after considering
all aspects. Decrease in 2016 showing profit margin has
decreased.
Gives Net profit margin of the company without
considering exceptional items. Decrease in 2016
It gives the measure of profit generated for shareholders,
i.e. profit generated for a single unit of money invested in
the company. Decreased significantly in 2016

Gives a measure of repayment of loan interest component
factor, No significant change in 2016
Gives measure of total profit available for shareholders
without considering taxes. Decrease in 2016 shows taxes
were not managed properly
Can be calculated by adding 1 to debt to equity ratio, Gives

a measure of total assets compared to total equity, no
significant change in 2016
the company, Decreased significantly in 2016
Premium above which stock is traded compared to its

earnings, Depends on the industry, Higher value implies
more confidence among investors who are willing to pay
higher premium for stock, Increased significantly in 2016
Price at which stock is traded for each unit of sales, higher
value implies confidence among investors, Increased
significantly in 2016
It gives market value of firm's investment compared to its
cose, it is a measure of value a stock is able to generate for
its investors, increased significantly in 2016
Dividend that was given to investors for a single unit of
stock price, No significant change in 2016
Amount by which stock value has appreciated in the year
compared to initial price, significant increase in 2016
Total return investors has got over a signle unit of stock,
Calculated by adding dividend received and appreciation in
stock price
Absolute capital gain in share price in the year
Interpretation
Voltas
Company has maintained a healthy level which is a good
sign
Quick ratio has seen a gradual increase mainly due to
decrease in inventory kept
Cash component among current assets has seen a small
decrease
An increase in fixed assets has contributed to a slight
decrease in the ratio
Number of days current asset will survive before new
investment. No significant change
No significant change when compared to last year
This value depends on the industry though a lower value

is always preferred
Company has preferred using equity to finance its assets

in this year
Company has seen its TIE ratio doubled in the past year
showing its improving financial health
Depreciation is non cash expense which was deducted in

TIE and since interest is a cash outflow, Cash coverage
ratio gives better picture of interest obligation coverage, it
has increased significantly in 2016
Number of times inventory was turned over in the year,

No significant change in 2016
It gives the measure of average days sales in inventory,
i.e. number of days on average inventory sits before it is
sold, decreased significantly in 2016 which is a good sign
Gives a measure of how fast payments are collected by
the company. Increase shows an improvement in the
collections department

collected by the company, also known as Average
collection period. Significant improvement seen
Gives a measure of how fast payments are done by the
company. It has bettered over the past year
made by the company. A slight improvement
Amount of sales generated from working capital,
Increased in 2016 which is a good sign
current assets. Efficiency in using current assets has
increased slightly.
fixed assets, decrease in 2016
Gross profit generated from regular operations of the
Gives Net profit margin of the company after considering
all aspects, No significant change in 2016
Gives Net profit margin of the company without
considering exceptional items. Decrease in 2016
the company. Decreased slightly in 2016

Gives a measure of repayment of loan interest component
factor, No significant change in 2016
Gives measure of total profit available for shareholders
without considering taxes. Decrease in 2016 shows taxes
were not managed properly
Can be calculated by adding 1 to debt to equity ratio,

Gives a measure of total assets compared to total equity,
no significant change in 2016
the company, No significant change in 2016
Premium above which stock is traded compared to its

earnings, Depends on the industry, Higher value implies
more confidence among investors who are willing to pay
higher premium for stock, Not a significant in 2016
Price at which stock is traded for each unit of sales, higher
value implies confidence among investors, No significant
change in 2016
It gives market value of firm's investment compared to its
cose, it is a measure of value a stock is able to generate
for its investors, decreased significantly in 2016
Dividend that was given to investors for a single unit of
stock price, No significant change in 2016
Amount by which stock value has appreciated in the year
compared to initial price, significant increase in 2016
Total return investors has got over a signle unit of stock,
Calculated by adding dividend received and appreciation
in stock price
Absolute capital gain in share price in the year
The assignments have hugely contributed to my understanding of the concepts as it simplified a lot o
intimidating at first. Following are some of the highlights:
A familiarity with Balance Sheet and Income Statement got developed as we regularly interacted wi
How to develop cash flow statements for a particular company and analyze how a company finances
The ratios gave us an insight on how to judge the financial health of a company and how their decis
their primary objective: to increase the wealth of the shareholders
Diferent measurements for inventory, assets and equity gave us an understanding of how these are
companies and specifically other companies in the same industry
pts as it simplified a lot of topics which seemed
e regularly interacted with the terms within them

how a company finances its operations
pany and how their decisions are always based on
tanding of how these are related to other

Standalone Profit and Loss Statement Blue Star Mar-16 Mar-15

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Standalone Profit and Loss Statement Blue Star Mar-16 Mar-15

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Standalone Profit and Loss Statement

Net revenue from operations

Table-1: Cash Flow Statements: Total Cash B

Surplus/(deficit) =Sources of cash-Uses of ca

2684.86 Uses of Cash

19975.8 Surplus/(deficit) =Sources of cash-Uses of ca

WORKING Capital Gap =CA-CL(Except ST Borrowin

sh Flow Statements: Total Cash Basis

Total outstanding duies of MSMEs

eficit) =Sources of cash-Uses of cash

Long term provisions

eficit) =Sources of cash-Uses of cash

919.40 Surplus/(deficit) =Sources of cash-Uses of cas

able-4: CF Statements-WC Basis

Share capital suspense account

apital Gap =CA-CL(Except ST Borrowing)

Is there a case of short-term funds

al outstanding dues of other than MSMEs

Definition of sources and uses of cash

0.04 Sources of cash

Table-3: Changes in Res & Surplus components

Long term provisions

Total outstanding dues of other

79,529.87 Note-4: All the sources of long-term nature (non-current

Long term provisions

thererore, sum of inc in WC co

WC for other than WC purposes

This statement help to find if s

rces and uses of cash

on , classify changes in all itmes, except Cash & BB,

ow statement, all the items of table-1 , except change in

& Surplus components

ng-term nature (non-current account related)

ll long term sources of cash and long term uses of cash

hererore, sum of inc in WC components should be more than

his statement help to find if short term funds are

hese changes, complete table-2 to prepare Amplified CF Statement.

from the annual reports of Maruti and M&M