COST AND MANAGEMENT ACCOUNTING

C.I.A 1
By
Jayant Tomar (23214446)
4BCOMAFA
Under the Guidance of
Dr. Bhupendra Singh Hada

SCHOOL OF COMMERCE FINANCE AND ACCOUNTANCY

CHRIST (DEEMED TO BE UNIVERSITY), DELHI NCR
Assignment Description-

Introduction:
→ Brief introduction to the company chosen (real or
hypothetical).
→ Explanation of the industry and the type of
products or services provided.

Elements of Cost Analysis:

→ Identification and classification of cost
elements (Direct Material, Direct Labor, and Overheads).
→ Provide examples and data related to the company.

Preparation of Cost Sheet:

→ Preparation of a detailed cost sheet using the
data collected.
→ Include calculations for prime cost, factory
cost, cost of production, cost of goods sold, and cost per unit.

Index

S.No Content Page No.

1. Introduction 1
2. Elements of Cost Analysis 3
3. Preparation of Cost sheet 5
4. Analysis Of Cost sheet 11
5. Conclusion 17
6. Appendix 18

Introduction
~ For the purpose of this Assignment I have chosen ITC ltd.
And We’ll be focusing on its’ Cigarettes Segment

About ITC -

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Established in 1910, ITC is one of India's foremost private sector companies and a
diversified conglomerate with businesses spanning Fast Moving Consumer Goods
(FMCG), Paperboards and Packaging, Agri Business and Information
Technology.
The Company is acknowledged as one of India's most valuable business
corporations with a Gross Revenue of ₹ 69,446 crores and Net Profit of ₹ 20,422
crores (as on 31.03.2024). ITC was ranked as India's most admired company,
according to a survey conducted by Fortune India, in association with Hay Group.

Growth Drivers -
ITC is the country's leading FMCG marketer, the clear market leader in the Indian
Paperboard and Packaging industry, a globally acknowledged pioneer in farmer
empowerment through its wide-reaching Agri Business, a pre-eminent hotel chain
in India that is a trailblazer in 'Responsible Luxury'. ITC's wholly-owned subsidiary,
ITC Infotech, is a specialized global digital solutions provider.
Over the last decade, ITC's new Consumer Goods Businesses have established a
vibrant portfolio of 25+ world- class Indian brands that create and retain value in
India. ITC's world class FMCG brands including Aashirvaad, Sunfeast, Yippee!,
Bingo!, B Natural, ITC Master Chef, Fabelle, Sunbean, Fiama, Engage, Vivel,
Savlon, Classmate, Paperkraft, Mangaldeep, Aim and others have garnered
encouraging consumer franchise within a short span of time. While several of these
brands are market leaders in their segments, others are making appreciable
progress.

Business Segments Of ITC Ltd. - (H1 ~ 1St Half of the year)

1. FMCG Cigarettes (42% H1 FY25):
o 80% market share in the organized domestic market.
o Contributes 78% of EBIT. Revenue grew 7% YoY in Q2 FY25.
2. FMCG Others (26% H1 FY25):
o Leading marketer with brands like Aashirvaad, Bingo, and Fiama.
o Portfolio of 25+ brands, reaching 25 Cr+ households.
o Revenue grew 5% YoY in Q2 FY25.
3. Agri-Business (17% H1 FY25):
o Major exporter of tobacco, spices, and coffee.
o Handles 3 Million Tonnes across 20+ agri-value chains.

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 o Revenue grew 47% YoY in Q2 FY25.
4. Paperboards & Packaging (6% H1 FY25):
o Largest manufacturer in India offering sustainable paper products.
o Revenue grew 2% YoY in Q2 FY25, despite weak demand and global
competition.
5. Hotels (4% H1 FY25):
o Operates 130+ properties under multiple brands.
o Plans to add 28 hotels by Q2 FY27.
o Hotel business demerged as ITC Hotels Ltd in Jan 2024.
6. IT Solutions (5% H1 FY25):
o Provides IT services through ITC Infotech.
o Acquired Blazeclan Technologies in Oct 2024.

About FMCG Industry in India-

Q What is FMCG?
-FMCG stands for Fast-Moving Consumer Goods. FMCG products are items that
are in high demand, sold quickly, and are affordable. They are also known as
consumer-packaged goods (CPG) or convenience goods.
-The FMCG sector in India expanded due to consumer-driven growth and higher
product prices, especially for essential goods. FMCG sector provides employment
to around 3 million people accounting for approximately 5% of the total factory
employment in India. FMCG sales in the country grew 7-9% by revenues in 2022-
23.
-The FMCG industry in India is expected to grow between 4.5-6.5% in 2024, on the
back of continued strength in the sector and the Indian economy.

Elements of
Cost Analysis:

Direct Material -
i. Opening Stock of Materials – Raw materials available at the start.

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 ii. Purchases – Raw material bought during the period.
iii. (Closing Stock of Materials) – Deducted to find the actual raw material used.
iv. Raw Material Consumed – The actual material used in production.

Direct Labor -
(i was not able to find Direct Labor/Wages)

Overheads -

a. Factory Overheads (Manufacturing Expenses)

v. Excise Duty – Indirect tax applicable on production.
vi. Power and Fuel – Essential for machinery operation.
vii. Maintenance – General upkeep of equipment and facilities.
viii. Insurance – If related to factory assets.
ix. Repairs:
Buildings – Indirect cost of maintaining factory premises.
Machinery – Indirect cost related to equipment.

b. Administration Overheads (General office and administrative expenses)

x. Audit Fees – Compliance and financial verification.
xi. Printing and Stationery – Office supplies and documentation.
xii. Training and Development – Employee skill enhancement.
xiii. Information Technology Services – IT-related expenses.
xiv. Postage, Telephone, etc. – Communication expenses.
xv. Consultancy/Professional Fees – Payments for expert advice.
xvi. Legal Expenses – Indirect legal costs.
xvii. Rent – If for office/factory premises.
xviii. Rates and Taxes – Government levies on property/utilities.

c. Selling and Distribution Overheads (Expenses after production, related to

sales)
xix. Commission to Selling Agents – Payments for sales representatives.
xx. Outward Freight and Handling Charges – Delivery-related expenses.
xxi. Warehousing Charges – Storage cost for finished goods.
xxii. Advertising/Sales Promotion – Marketing and promotional activities
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 Preparation Of ITC LTD. Cost Sheet
For FY2019-20:
2020
Particulars (Rs in
Crores)

Opening Stock Of Materials 5423.39

Purchases 13121.76
(Closing stock Of materials) -5683.46
Raw Material Consumed 12861.69
Excise duty 1187.64
Prime Cost 14049.33
Power and fuel 744.55
Maintenance 278.09
Insurance 93.06
Gross Factory Cost 15165.03
Opening Stock WIP 245.37
(Closing stock WIP) -178.55
Net Factory Cost 15231.85
Repairs –
Buildings 70.99
Machinery 248.95
Audit fees 2.95
Printing and stationery 17.33
Training and development 24.03
Information technology services 267.06
Postage, telephone etc. 19.08
Consultancy/Professional fees 163.24
Legal expenses 44.04
Rent 247.06
Rates and taxes 137.73
Cost Of Production 16474.31
Opening Stock Of Finished Goods 1022.63
(Closing Stock Of Finished Goods) -1301.68
Cost Of Goods Sold 16195.26
Commission to selling agents 8.03
Outward freight and handling charges 1220.15
Warehousing charges 159.77
Advertising/Sales promotion 979.71
Cost Of Sales 18562.92
Profit 77115.78
Sales 95678.7

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For FY2020-21:
2021
Particulars (Rs in
Crores)

Opening Stock Of Materials 5683.46

Purchases 6896.41
(Closing stock Of materials) -6544.03
Raw Material Consumed 6035.84
Excise duty 3039.43
Prime Cost 9075.27
Power and fuel 672.11
Maintenance 225.72
Insurance 125.33
Gross Factory Cost 10098.43
Opening Stock WIP 178.55
(Closing stock WIP) -213.07
Net Factory Cost 10063.91
Repairs –
Buildings 48.3
Machinery 224.09
Audit fees 2.95
Printing and stationery 9.74
Training and development 11.02
Information technology services 247.41
Postage, telephone etc. 17.39
Consultancy/Professional fees 135.01
Legal expenses 21.25
Rent 211.59
Rates and taxes 81.64
Cost Of Production 11074.3
Opening Stock Of Finished Goods 1301.68
(Closing Stock Of Finished Goods) -1445.49
Cost Of Goods Sold 10930.49
Commission to selling agents 14.62
Outward freight and handling charges 1312.09
Warehousing charges 160.45
Advertising/Sales promotion 1083.51
Cost Of Sales 13501.16
Profit 51242.4
Sales 64743.56

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For FY2021-22:
2022
Particulars (Rs in
Crores)

Opening Stock Of Materials 6544.03

Purchases 10734.48
(Closing stock Of materials) -6442.11
Raw Material Consumed 10836.4
Excise duty 3404.29
Prime Cost 14240.69
Power and fuel 864.05
Maintenance 251.89
Insurance 122.39
Gross Factory Cost 15479.02
Opening Stock WIP 213.07
(Closing stock WIP) -232.7
Net Factory Cost 15459.39
Repairs –
Buildings 61.11
Machinery 263.29
Audit fees 3.4
Printing and stationery 11.8
Training and development 13.64
Information technology services 274.48
Postage, telephone etc. 18.33
Consultancy/Professional fees 153.08
Legal expenses 30.42
Rent 196
Rates and taxes 114.59
Cost Of Production 16599.53
Opening Stock Of Finished Goods 1445.49
(Closing Stock Of Finished Goods) 1638.93
Cost Of Goods Sold 19683.95
Commission to selling agents 18.3
Outward freight and handling charges 1624.97
Warehousing charges 200.35
Advertising/Sales promotion 980.63
Cost Of Sales 22508.2
Profit 81462.58
Sales 103970.78

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For FY2022-23:

2023
Particulars (Rs in
Crores)

Opening Stock Of Materials 6442.11

Purchases 9109.85
(Closing stock Of materials) -6937.54
Raw Material Consumed 8614.42
Excise duty 4208.01
Prime Cost 12822.43
Power and fuel 1199.84
Maintenance 312.93
Insurance 132.43
Gross Factory Cost 14467.63
Opening Stock WIP 232.7
(Closing stock WIP) -263.47
Net Factory Cost 14436.86
Repairs –
Buildings 104.8
Machinery 325.43
Audit fees 3.4
Printing and stationery 16.66
Training and development 18.55
Information technology services 311.31
Postage, telephone etc. 19.48
Consultancy/Professional fees 175.52
Legal expenses 37.07
Rent 239.68
Rates and taxes 153.02
Cost Of Production 15841.78
Opening Stock Of Finished Goods 1638.93
(Closing Stock Of Finished Goods) -2063.3
Cost Of Goods Sold 15417.41
Commission to selling agents 18.92
Outward freight and handling charges 1648.69
Warehousing charges 233.72
Advertising/Sales promotion 1155.71
Cost Of Sales 18474.45
Profit 72986.11
Sales 91460.56

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For FY2023-24:

2024
Particulars (Rs in
Crores)

Opening Stock Of Materials 6937.54

Purchases 6042.97
(Closing stock Of materials) -8494.87
Raw Material Consumed 4485.64
Excise duty 4664.48
Prime Cost 9150.12
Power and fuel 1083.65
Maintenance 349.74
Insurance 129.41
Gross Factory Cost 10712.92
Opening Stock WIP 263.47
(Closing stock WIP) -322.1
Net Factory Cost 10654.29
Repairs –
Buildings 116.59
Machinery 339.45
Audit fees 3.85
Printing and stationery 17.97
Training and development 24.44
Information technology services 366.82
Postage, telephone etc. 18.25
Consultancy/Professional fees 207.66
Legal expenses 34.55
Rent 277.1
Rates and taxes 243.2
Cost Of Production 12304.17
Opening Stock Of Finished Goods 2063.3
(Closing Stock Of Finished Goods) -2115.45
Cost Of Goods Sold 12252.02
Commission to selling agents 19.85
Outward freight and handling charges 1582.34
Warehousing charges 244.35
Advertising/Sales promotion 1420.31
Cost Of Sales 15518.87
Profit 55073.52
Sales 70592.39

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COMBINED COST SHEET (FY20-24)

2024 2023 2022 2021 2020

Particulars
(Rs in Crores)

Opening Stock Of Materials 6937.54 6442.11 6544.03 5683.46 5423.39

Purchases 6042.97 9109.85 10734.48 6896.41 13121.76
(Closing stock Of materials) -8494.87 -6937.54 -6442.11 -6544.03 -5683.46
Raw Material Consumed 4485.64 8614.42 10836.4 6035.84 12861.69
Excise duty 4664.48 4208.01 3404.29 3039.43 1187.64
Prime Cost 9150.12 12822.43 14240.69 9075.27 14049.33
Power and fuel 1083.65 1199.84 864.05 672.11 744.55
Maintenance 349.74 312.93 251.89 225.72 278.09
Insurance 129.41 132.43 122.39 125.33 93.06
Gross Factory Cost 10712.92 14467.63 15479.02 10098.43 15165.03
Opening Stock WIP 263.47 232.7 213.07 178.55 245.37
(Closing stock WIP) -322.1 -263.47 -232.7 -213.07 -178.55
Net Factory Cost 10654.29 14436.86 15459.39 10063.91 15231.85
Repairs –
Buildings 116.59 104.8 61.11 48.3 70.99
Machinery 339.45 325.43 263.29 224.09 248.95
Audit fees 3.85 3.4 3.4 2.95 2.95
Printing and stationery 17.97 16.66 11.8 9.74 17.33
Training and development 24.44 18.55 13.64 11.02 24.03
Information technology services 366.82 311.31 274.48 247.41 267.06
Postage, telephone etc. 18.25 19.48 18.33 17.39 19.08
Consultancy/Professional fees 207.66 175.52 153.08 135.01 163.24
Legal expenses 34.55 37.07 30.42 21.25 44.04
Rent 277.1 239.68 196 211.59 247.06
Rates and taxes 243.2 153.02 114.59 81.64 137.73
Cost Of Production 12304.17 15841.78 16599.53 11074.3 16474.31
Opening Stock Of Finished Goods 2063.3 1638.93 1445.49 1301.68 1022.63
(Closing Stock Of Finished Goods) -2115.45 -2063.3 1638.93 -1445.49 -1301.68
Cost Of Goods Sold 12252.02 15417.41 19683.95 10930.49 16195.26
Commission to selling agents 19.85 18.92 18.3 14.62 8.03
Outward freight and handling charges 1582.34 1648.69 1624.97 1312.09 1220.15
Warehousing charges 244.35 233.72 200.35 160.45 159.77
Advertising/Sales promotion 1420.31 1155.71 980.63 1083.51 979.71
Cost Of Sales 15518.87 18474.45 22508.2 13501.16 18562.92
Profit 55073.52 72986.11 81462.58 51242.4 77115.78
Sales 70592.39 91460.56 103970.78 64743.56 95678.7

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 Analysis –
1.Raw Material Consumption-
o FY20: ₹12,861.69 million (highest consumption in 5 years).
o FY24: ₹4,485.64 million (lowest consumption).
o Sharp declines in FY21 and FY24, implying potential disruptions or strategic
shifts.
Key Observations -
Opening Stock: It has been consistently increasing from ₹5,423.39 million
(FY20) to ₹6,937.54 million (FY24), which indicates the holding of a higher
inventory at the beginning of each year.
Purchases: Significant swings, showing the FY20 peak at ₹13,121.76 mn and
a low of ₹6,042.97 mn in FY24. The trend suggests a shift in purchase strategy
or market factors influencing raw material availability.
Closing Stock: An up-trend, but FY24 shows a steep increase to ₹8,494.87
mn. High closing stock in FY24 is suggestive of low production, lower demand,
or merely due to holding stock.

2. Excise Duty-
o The steep rise in excise duty from FY20 to FY21 may reflect increased tax
rates on cigarettes, often a government strategy for revenue generation and
discouraging consumption.
o The consistent rise from FY22 to FY24 suggests higher tax burdens, possibly
driven by sin taxes or increasing cigarette prices to offset these duties.

3. Prime Cost-
o The prime cost is also similar in form to raw material consumption but is
comparatively lower due to fewer productions and sales in the pandemic
year, FY21.
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 o Comparative rise in FY22 might be the case of bouncing back after COVID
effect as demand will have bounced back.
o Decline in FY24 can be considered a reduction in volume or more competition
in the market.
4. Gross Factory Cost-
o Power and Fuel: Increased sharply over the 5 years, from ₹744.55 crore in
FY20 to ₹1083.65 crore in FY24. It increased sharply in FY23 to ₹1199.84
crore. The increase in Power and Fuel costs corresponds with the rise in
energy prices and potential inflationary pressures during FY23, which mirrors
broader macroeconomic challenges.
o Maintenance: Increased gradually from ₹278.09 crore during FY20 to ₹349.74
crore in FY24 with slight dips (eg, FY21). This could be attributed to aging
infrastructure or increased maintenance requirements.
o Insurance: Fluctuated slightly but remained relatively stable. It peaked at
₹132.43 crore in FY23 and then dipped slightly in FY24. This was an indication
of effective risk management.
o Gross Factory Cost: It experienced big fluctuations; its sharp drop during
FY21 ₹10098.43 cr against FY20; it picked up in FY22 and FY23 but dropped
once again during FY24 at ₹10712.92 cr
5. Net Working Cost-
o Opening Stock WIP: The opening stock value is increasing every year (FY20:
₹245.37 Cr to FY24: ₹263.47 Cr), and it shows that the inventory on hand at
the beginning of the year is rising steadily.

o Closing Stock WIP: Closing stock also increases consistently (from ₹178.55
Cr in FY20 to ₹322.1 Cr in FY24), though at a marginally faster rate than
opening stock. This would imply higher levels of unfinished goods are being
held at the end of the year.

o Net Factory Cost :

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 The Net Factory Cost varies widely, peaking in FY20 (₹15,231.85 Cr) and FY22
(₹15,459.39 Cr), and then falls in FY24 (₹10,654.29 Cr).
The higher closing stock in any year decreases the total factory cost. In FY24,
the closing stock is the highest at ₹322.1 Cr, and hence the Net Factory Cost
decreases to a great extent.
6. Cost of Production-
o Total Cost of Production:
The total cost of production varies significantly over the five years. It has
dropped significantly in FY21 and then increased sharply in FY22, only to
decline in FY24. This may be due to changes in production volumes, raw
material costs, or other external market conditions, such as taxes, raw
material prices, or other economic factors.
o Repairs:
Building repairs and machinery repairs both trend differently. Machinery
repairs are higher and trending downward (except for a slight increase in
FY24), which may indicate that machinery is being maintained less frequently
or improvements are reducing the need for repairs.
o Audit Fees:
Audit fees are relatively stable, though they have decreased slightly over the
years. This suggests that the company's auditing costs have been relatively
stable, reflecting a consistent level of auditing needs or possibly cost-saving
measures in this area.
o Printing and Stationery:
There is a decline in printing and stationery costs from FY20 to FY23, with an
increase in FY24. The decline may indicate more digital operations or a
reduction in the need for physical documentation. The increase in FY24 may
be a one-time spike or because of new needs (e.g., packaging, marketing
material).

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o Training and Development:
Training and development costs declined sharply until FY23, and then
increased significantly in FY24. This could be a reflection of cost-cutting
measures in earlier years or a shift in business strategy, which was then re-
invested in employee skills and development.
o Information Technology Services:
IT services costs are quite high, meaning that the company is investing in the
technology infrastructure. The decrease in FY21 and FY22 might indicate cost-
cutting measures or the completion of major IT projects; however, the steep
rise in FY23 and FY24 indicates an up-gradation of the systems, more
extensive needs for IT, or a more intense level of digitalization.
o Postage, Telephone, etc.
The cost is relatively stable with minor fluctuations. This could indicate that
the communication and logistical needs have been fairly constant.
o Consultancy/Professional Fees:
Consultancy and professional fees are a straight line in earlier years but then
increased in FY24. It could be a situation where the company had cut back on
external consulting or professional services during the period of cost cutting,
but it was then resuming those services as operations picked up or changed.
o Legal Expenses:
Legal costs are highly volatile and have increased materially in FY24. This
might be due to a change in regulatory compliance costs, legal disputes, or a
new business venture that the company is undertaking.

o Rent:
Rent has followed a relatively stable trend. It has gone down in FY21 and then
returned to previous levels. This might indicate a shift in real estate strategy,
such as consolidation of locations or renegotiation of rental agreements.
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 o Rates and Taxes:
There is a considerable decline in FY21 and then a sharp upsurge in FY24. This
would be indicative of a change in taxations, imposition of new regulations, or
an upward revision of the real estate prices.

7. Cost of Goods Sold-

o Opening and Closing Stock of Finished Goods:
Opening stock of finished goods has declined from 2063.3 in FY20 to 1022.63
in FY24.
Closing stock has been volatile, with FY20 and FY24 having negative values,
indicating that the stock had declined by a huge amount during those years.
The volatility of opening and closing stock indicates that ITC Ltd has been
adopting varying strategies to manage its finished goods inventory over the
years. Negative closing stock for FY20 and FY24 may be indicative of
stockouts or a conscious decision to cut down on finished goods inventory.
o Cost of Goods Sold (COGS):
There is a fluctuation in COGS over the five years. FY20 has the highest COGS
of 16829.58, while FY24 has the lowest COGS of 11617.7
FY22 is a standout with an unusually high COGS of 19683.95, which could
either be an increase in production or an increase in raw material costs or
both.
The trend is an overall decrease in COGS from FY20 to FY24, but there was a
spike in FY22.
The increase in COGS in FY22 may be due to various factors such as increased
production costs, changes in raw material prices, or changes in the
manufacturing process. The decrease from FY20 to FY24 may be due to cost-
cutting measures, better inventory management, or a reduction in raw material
costs.
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8. Cost Of Sales-
o Commission to Selling Agents: It shows a declining trend from FY20 to FY24.
This might be because ITC is decreasing its dependence on external selling
agents or improving the internal sales functions. It might also be cost-cutting
measures for optimizing profitability.
o Outward Freight and Handling Charges: These charges have declined in
FY24 after peaking in FY21, indicating better logistics or cost control in
distribution. ITC may have optimized its supply chain, reducing transportation
costs. These are significant in FMCG, especially in tobacco, where distribution
is key.
o Warehousing Charges: These costs have also declined over the years, which
may be a sign of better inventory management or reduced storage needs. This
could be due to better forecasting and demand planning.
o Advertising/Sales Promotion: The decline in advertising expenses in the
FY24 might be an attempt to balance the exorbitant costs of promotional
activities. ITC might be focusing more towards effective or digital marketing
strategies, or they simply might have optimized their spending distribution
across other expenses.
o Cost of Sales: The cost of sales for the company varied with years and stood
the highest in FY20, followed by a huge decrease in FY24. It might be because
the company had achieved better cost management or it may be the
production volumes where certain parts have decreased in demand or have
incurred less cost for production. This could mean ITC has optimized the
efficiency within its cigarette portfolio to raise its margins.

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 Conclusion

o Raw Material Consumption: The significant decline in raw material

consumption from FY20 to FY24, along with fluctuations in opening and
closing stock, suggests changes in procurement strategies and production
levels, likely due to market conditions or strategic shifts within the company.
o Excise Duty and Prime Cost: The increase in excise duties and fluctuations in
prime costs reflect the broader regulatory environment and market dynamics,
with post-pandemic recovery observed in FY22, followed by a decline in FY24,
possibly indicating reduced demand or competitive pressures.
o Gross Factory Costs: Rising energy costs (Power and Fuel) and steady
increases in maintenance and insurance costs align with inflationary
pressures and the need for infrastructure upkeep. The fluctuations in gross
factory cost and net factory cost reflect variations in production levels,
inventory strategies, and cost-saving measures.
o Cost of Production: The fluctuation in production costs, repairs, and IT
service expenses points to an adaptive approach, where ITC Ltd. adjusted to
market and operational changes by reducing costs in some areas and
reinvesting in others, such as employee training and IT infrastructure.
o Cost of Goods Sold and Cost of Sales: The fluctuations in COGS and cost of
sales indicate ongoing efforts to optimize production and distribution
strategies. The decrease in commissions, freight charges, and warehousing
costs reflects improvements in supply chain and logistics efficiency. ITC Ltd.
may have also reduced its marketing spend in favor of more efficient
strategies.

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 Appendix
1. Profit/Loss-

Mar- Mar- Mar- Mar- Mar-

Particulars
20 21 22 23 24
Sales 44,983 45,620 45,485 56,341 66,043
Expenses + 27,551 27,635 29,895 37,448 42,062
Operating Profit 17,431 17,985 15,590 18,893 23,981
OPM % 39% 39% 34% 34% 36%
Other Income + 2,382 2,825 3,195 2,649 2,506
Interest 58 80 59 61 74
Depreciation 1,312 1,563 1,562 1,652 1,663
Profit before tax 18,444 19,167 17,164 19,830 24,750
Tax % 32% 21% 24% 24% 24%
Net Profit + 12,464 15,136 13,032 15,058 18,753
EPS in Rs 10.17 12.31 10.59 12.22 15.09
Dividend Payout % 57% 82% 102% 94% 103%

2. Balance Sheet-

Mar- Mar- Mar- Mar- Mar- Sep-

Particulars
20 21 22 23 24 24
Equity Capital 1,226 1,229 1,231 1,232 1,243 1,248
Reserves 56,724 62,800 57,774 60,167 66,351 70,985
Borrowings + 11 332 329 311 325 312
Other
11,837 10,874 12,246 13,382 14,343 14,782
Liabilities +
Total
69,798 75,235 71,580 75,092 82,262 87,328
Liabilities
Fixed Assets + 18,486 20,518 22,188 23,221 24,174 25,743
CWIP 3,401 2,780 3,333 2,466 1,697 1,087
Investments 26,578 30,631 26,984 27,282 32,721 34,739
Other Assets + 21,332 21,307 19,075 22,123 23,670 25,759
Total Assets 69,798 75,235 71,580 75,092 82,262 87,328

3. Annual Report for the FY24,FY23,FY22,FY21,FY20

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Thank You

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