Particulars

ASSETS
Non-current assets
Property, plant and equipment
Capital work in progress
Right-of-use assets
Goodwill
Other intangible assets
Financial assets
Other financial assets
Other assets

Current assets
Inventories
Financial assets
a) Investments
b) Trade receivables
c) Cash and Cash Equivalents
d) Bank Balances other than Cash and Cash Equivalents
e) Other Financial Assets
Other assets

TOTAL
EQUITY AND LIABILITIES
Equity
a) Equity Share Capital
b) Other Equity

Non-current liabilities
Financial-liabilities
Lease liabilities
Other liabilities
Provisions
Deferred tax liabilities (net)

Current liabilities
Financial liabilities
a) Lease Liabilities
b) Trade Payables - total outstanding dues of :
1-b ) micro enterprises and small enterprises
2-b) credit other than micro enterprises and small enterprises
c) Other financial liabilities
Other liabilities
Provisions
Liabilities for income tax (net)

TOTAL
The accompanyinq notes are an integral part of the financial statements.

PROFIT AND LOSS ACCOOUNT

Statement of Profit and (All amounts in rupees Lakhs, unless otherwise stated)
Particulars

Income
Revenue from operations
Other income
Total income (1)
Expenses
Cost of raw materials and components consumed
Purchase of traded goods
(Increase) in inventories of finished goods and traded goods
Employee benefits expense
Finance costs
Depreciation and amortization expense
Other expenses
Total expenses (11)
Profit before tax (111) = (1 - 11)
Tax expense
Current tax
Adjustment of tax relating to earlier periods
Deferred tax
Total tax expense
Profit for the year
Other comprehensive income (OCI)
Items not to be reclassified to profit or loss in subsequent periods Re-measurement (loss)/gain on defined benefit plans

Income tax effect

Net other comprehensive income not to be reclassified to profit or
loss in subsequent periods
Total comprehensive income for the year, net of tax
Earnings per equity share (face value 010)
- Basic (Amount in t)
- Diluted (Amount in
The accompanying notes are an integral part of the financial
statements.
BALANCE SHEET NoteAs at As at
March 31,202.3 March 31,2022

3.1 17,953.30 18,919.70

3.1 25091.3 5097.27
3.2 5430.38 3,320.43
3.3 3,055.20 3,055.20
3.3 0.3056 38.38

162.9 155.21
2,562.74 4,163.39
54,286.38 34,749.58

11,765.75 11,771.93

4 13,168.64 17309.54
20010.96 17,165.25
8.1 4,717.93 3,553.27
8.2 161.37 6,408.85
17.86 902
2031.53 1021.11
51,874.04 57,238.97
106,160.42 91,988.55

10 4758.83 4,756.90
11 72,853.92 60.28.894
77,612.75 64,985.84

35 694.31 774.1
15 480.02 484.26
16 271.72 475.04
17 693.55 84712
2,139.60 2,580.52

35 491.22 469.54

13 5,465.69 4,469.55
13 15,592.17 15671.47
14 1102.06 672.54
15 1,600.52 1,543.70
16 68468 227.45
1471.3 1,367.94
26,408.07 24422.19
106,160.42 91,988.55
 21

Loss for the year ended March 31, 2.023

Note Year ended Year ended
March 31,2023 March 31,2022

18 107,333.43 90,597.48
19 1,006.75 1,089.32
108,340.18 91,686.80

20 57,632.77 50,888.16
2,056.57 1,926.02
21 -164.41 -1,461.72
22 7,310.08 5,632.91
23 13759 133.04
24 3,434.66 3125.08
25 22,345.18 20,013.74
92,752.44 80,257.23
15,587.74 11,429.57

17 4,179.57 2,877.37
-1,632.99
17 -152.78 147.4
2,393.80 3,024.77
13,193.94 8,404.80

-3.14 17.86
0.79 -4.5
-2.35 13.36

13,191.59 8,418.16
26
2773 17.67
27.67 17.63
2.1
Ratio Analysis
1 Current Ratio

Current Ratio =

2 Quick Ratio or Liquid Ratio or Acid Test Ratio

Quick Ratio =

3 Debt Equity Ratio

Debt Equity Ratio =

4 Debt Servivce Coverage Ratio

DSCR =

5 Interest Coverage Ratio

ICR =

6 Operating Cycle

Operating Cycle =

7 Inventory Holding Period or Stock Holding Period or Stock Velocity

Average Inventory
IHP = ------------------------
COGS
8 Inventory Turnover Ratio or Stock Turnover Ratio

ITR =

9 Debtors Collection Period or Average Collection Period or Debtors Velocity or No. of days re
Average Receivables
DCP = ------------------------
Annuar Credit Sales

10 Debtors Turnover Ratio or Receivables Turnover Ratio

DTR =

11 Creditors Payment Period or Average Payment Period or Creditors Velocity

Average Payables
CPP = ------------------------
Annuar Credit Purchases

12 Creditors Turnover Ratio or Payables Turnover Ratio

CTR =

13 Fiexed Assets Turnover Ratio

FATR =

14 Gross Profit Margin

Gross Profit
GP% = ------------------------
Net Sales

15 EBIT Margin
EBIT
EBIT % = ----------------------
Net Sales

16 Net Profit Margin

Profit After Tax
NP% = ------------------------
Net Sales
17 Return on Assets Ratio
Profit After Tax
RoA % = ------------------------
Avg. Total Assets

18 Return on Capital Employed

EBIT
ROCE % = ------------------------
CE

19 Return on Equity (all shareholders)

Net Profit
RoE = ------------------------
SHF

19 Return on Equity (only equity shareholders)

Net Profit _Pref. dividend
RoE = ------------------------
ESHF

20 Price Earnings Ratio or PE Multiple

Market Price Per Share
PE Ratio = ------------------------
Earning Per Share

21 Price Earnings Growth Ratio

PE Multiple
PEG Ratio = ------------------------
Annual Growth Rate

22 Du Pont 3 Factor

ROE = (Net Profit Margin) x (Asset Turnover) x (Equity Multiplier)

Net Income
ROE = ------------------ X ------------------- X ----------------------
Net Sales
23 Du Pont 5 Factor

ROE = (Tax Burden) x (Interest Burden) x (EBIT Margin) x (Asset Turnover) x (Equity Mult

Net Profit
ROE = ---------------- x ------------------- x ----------- x ---------------- x ----------------------------
EBT

Mar-23 Mar-22
current ratio 1.39 1.34
quick ratio 0.88 0.91
Debt equity ratio 0.662 0.507
debt service coverage ratio 1.42 1.18
interest coverage ratio 5.01 5.4
IHP 72.85 67.59
stock turnover ratio 4.15 4.64
debtor collection period 2.69 2.84
creditors payment period 133.2 134.1
creditors turnover ratio 4.48 7.17
fixed assets turnover ratio 1.39 1.22
gross profit margin 44.6 44.9
EBIT margin 9.78 13.34
net profit margin 5.44 8.45
return on assest ratio 6.64 8.8
return on capital employed 14.84 18.36
return on equity 0.3 0.39
price earnings ratio 23.19 27.21
price earnings growth ratio 0.0014 0.038
du pont 3 factor 5.89 2.98
du pont 5 factor 5.87 2.45
 Current Assets
------------------------
Current Liabilities

Quick Assets
------------------------
Current Liabilities

Total Loan Funds

------------------------
Shareholders Funds

EBITDA - Tax
------------------------
Repayment Obligations

EBIT
----------
Interest

IHP+DCP-CPP

Stock Velocity

X 365 days or 12m or 52w

 COGS
----------------------
Average Inventory

d or Debtors Velocity or No. of days receivable

X 365 days or 12m or 52w

Annual Credit Sales

----------------------
Average Receivables

or Creditors Velocity

X 365 days or 12m or 52w

Annual Credit Purhases

----------------------
Average Payables

Sales
----------------------
Avg. Net Block of Fixed Assets

---------------

X 100

---------------
---------------
otal Assets

---------------

---------------

ofit _Pref. dividend

---------------

t Price Per Share

---------------
ng Per Share

---------------
l Growth Rate

y Multiplier)

or

Net Sales
-------- X ----------------------
Total Assets
in) x (Asset Turnover) x (Equity Multiplier)

or

EBT
------- x ----------------------------
EBIT

Interpretation
The company's ability to meet short-term liabilities improved slightly from the previous year, indicating better short-term liquidity.
The quick ratio decreased, suggesting a slight reduction in the company's ability to cover immediate liabilities with its most liqui
The company has taken on more debt relative to equity, indicating increased financial leverage compared to the previous year.
The company's ability to cover its debt obligations from its operating income improved, indicating better debt-servicing capabil
The company's ability to cover interest expenses with its operating income decreased slightly, but it remains at a good level.
The company is holding inventory for a longer period in 2023 compared to 2022, which may tie up funds and impact cash flow.
The stock turnover rate decreased, indicating a decrease in how many times the company's stock is sold and replaced within the
The company is collecting receivables slightly faster in 2023, improving its cash conversion cycle.
The company is paying creditors slightly later in 2023 compared to the previous year.
The creditors turnover ratio decreased, indicating a slower payment to suppliers.
The company is generating more revenue per unit of fixed assets, indicating improved efficiency in asset utilization.
The gross profit margin slightly decreased, indicating a slight reduction in profitability after accounting for the cost of goods sol
The EBIT margin decreased, indicating a lower operating profit relative to revenue compared to the previous year.
The net profit margin decreased, indicating a lower percentage of revenue retained as profit after all expenses.
The return on assets decreased, indicating a lower efficiency in generating profit from the company's total assets.
The return on capital employed decreased, suggesting a lower return on the total capital employed in the business.
The return on equity decreased slightly, indicating a lower return for equity investors.
The P/E ratio decreased, suggesting a lower market valuation per unit of earnings compared to the previous year.
: The P/E growth ratio decreased, indicating a lower market expectation for future earnings growth per unit of current earnings.
The Du Pont 3 Factor increased, suggesting improved efficiency in using assets to generate profit.
The Du Pont 5 Factor increased, indicating improved profitability considering the extended Du Pont analysis.
Notes:
1. Any Provisions againsts current assets or short term provisions should b
2. Current Maturity of Long Term Debt is a Current Liability
3. Provision for Tax & Proposed Dividend is also considered as current liab
4. In the absence of information, Investement is treated as Long Term
5. Ideal Ratio 2:1

1. Quick Assets = Current Assets – (Inventory and prepaid expenses includ

2. Quick Liabilities= Current Liabilities - (Bank Overdraft and Income rece
3. If Quick ratio is asked to be calculated on Quick Liabilities, then the den
4. Ideal Ratio 1:1

1. Shareholders Fund = Equity Share Capital + Preference Share Capital +

2. Total Outside Liabilities = Total Loan Funds = Interest bearing Non Curr
3. Ideal Ratio = 2:1

1. EBITDA-tax = PAT + Depreciation + Non Cash Expenses + Interest

2. Repayment Obligation = Interest + Principal Repayment

1. Interest on both long term and short term debt to be included

1. IHP = Inventory Holding Period

2. DCP = Debtors Conversion Period or Debt Collection Period or Receivab
3. CPP = Creditors Payment Period or Trade Payables Payment Period
4. Inventory includes Raw Material, Work-in-progress and Finished Goods
5. No separate calcuation required for RMHP or WIPHP or FGHP
6. Standard number will be 365 days, 12 months & 52 weeks for calcuation

1. Sales can be used only if COGS can't be calculated with given data
2. In the absence of Opening Inventory, consider the given inventory as Average
3. COGS = Cost of Goods Sold = Sales - Gross Profit or Opening Stock + Net Purchases
 1. Sales can be used only if COGS can't be calculated with given data
2. In the absence of Opening Inventory, consider the given inventory as Average
3. COGS = Cost of Goods Sold = Sales - Gross Profit or Opening Stock + Net Purchases

X 100

X 100
X 100

X 100

X 100

X 100

1. Net Profit Margin shows operating efficiency

2. Asset Turnover shows asset utilization efficiency
3. Equity multiplier shows financial leverage
4. Net Profit Margin = Net Income / Net Sales
5. Asset Turnover = Net Sales / Total Assets
6. Equity Multiplier = Total Assets / Shareholders Equity
Total Assets

SHF
 1. We will use EBIT Margin instead of Operatin

EBIT Sales Total Assets

Sales Total Assets SHF

 erm provisions should be considered Current Liabilities
t Liability
onsidered as current liability
eated as Long Term

prepaid expenses including advance tax)

erdraft and Income received in advance)
Liabilities, then the denomnator will be Quick Liabilities

ference Share Capital + Reserves & Surplus

nterest bearing Non Current + Interest bearing Current Liabilities

xpenses + Interest

o be included

ction Period or Receivable Conversion Period

les Payment Period
ress and Finished Goods.
WIPHP or FGHP
52 weeks for calcuations

inventory as Average
ening Stock + Net Purchases + Carriage In + Direct Expenses - Closing Stock
 inventory as Average
ening Stock + Net Purchases + Carriage In + Direct Expenses - Closing Stock
T Margin instead of Operating Profit Margin