Particular Values

High Growth Phase Period (Years) 3

High Growth Rate 10.46%
Revenue Part
Type 1
Stable Growth Rate 4%
Tax Rate 34.00%

Risk Free Rate 5.10%

Beta 1.4
Equity Risk Premium
Market Risk Premium 6.50%
Equity Risk 14.20%

Debt Rate 7%
Debt Premium
Debt to Equity 0.25
WACC 11.85% Risk Premium for Firm

High Growth Phase Period (Years) 3

High Growth Rate 27.06%
Other Income
Type 2
Stable Growth Rate 4%
 Profit and Lost Statement
Year 15 16 17 18 19 20E 21E 22F
Net Revenues 1444.50 1625.40 1649.82 1796.85 2096.94 2359.07 2605.80 2878.34
RM Cost 717.33 893.82 921.41 922.21 1035.37 1164.80 1286.62 1393.49
Gross Profit 727.17 731.58 728.41 874.64 1061.57 1194.27 1319.18 1484.85
Employee Cost 107.25 128.34 141.17 154.97 171.38 196.43 204.28 212.45
Other Expenses 493.40 441.93 406.03 445.83 539.86 607.34 670.87 726.59
Total Operating Cost 600.65 570.27 547.20 600.80 711.24 803.77 875.15 939.04
EBITDA 126.52 161.31 181.21 273.84 350.33 390.50 444.03 545.81
Depriciation 38.32 43.13 41.70 40.90 42.44 47.03 50.07 52.07
EBIT 88.20 118.18 139.51 232.94 307.89 343.47 393.97 493.74
Interest 89.94 84.75 80.38 68.24 35.48 21.97 9.60 9.45
Other Income 44.99 38.87 19.65 26.67 13.29 14.17 18.00 21.49
PBT 43.25 72.30 78.78 191.37 285.70 335.73 402.37 505.78
Tax 19.49 25.27 28.78 63.83 97.64 113.10 135.63 171.96
PAT 23.76 47.03 50.00 127.54 188.06 222.60 266.63 333.81

Divident Payment 12.8 12.8 12.8 12.8 12.8 12.8 12.8 12.8
Retained Earning 10.96 34.23 37.20 114.74 175.26 209.80 253.83 321.01

EBITDA
707.91

545.81

444.03
390.50
350.33
273.84

181.21

17 18 19 20E 21E 22F 23F

 23F 24F
3179.38 3511.91
1479.23 1538.40 Net Revenues
1700.15 1973.52
3511.91
220.95 229.79 Growing at Stable Growth Rate
3179.38
771.30 802.15
2878.34
992.24 1031.93 2605.80
707.91 941.58 2359.07
2096.94
54.15 56.32 1796.85
653.76 885.26
9.30 9.15
24.00 24.96
668.45 901.07
227.27 306.36
441.18 594.70 18 19 20E 21E 22F 23F 24F

12.8 12.8
428.38 581.90

PAT
441.18

333.81

266.63
222.60
188.06

127.54

50.00

17 18 19 20E 21E 22F 23F

 3511.91
3179.38
34

23F 24F
Year 15 16 17 18 19 20E 21E
Equity Capital 26.61 26.61 26.61 26.66 26.68 26.68 26.68
Reserves 802.66 936.51 1003.28 1115.46 1288.26 1498.06 1751.89
Total Reserve and Equity Capital 829.27 963.12 1029.89 1142.12 1314.94 1524.74 1778.573
Borrrowing 738.43 815.79 654.22 522.2 323.26 318.26 313.26
Deferred Tax Liabilities 71.52 54.98 69.28 92.52 104.05 104.05 104.05
Long Term Provision 48.53 41.99 49.38 92.41 79.38 79.38 79.38
Total Non-Current Liabilities 858.48 912.76 772.88 707.13 506.69 501.69 496.69
Accounts Payable 125.54 176.01 185.32 214.14 244.84 275.4461 304.2548
Other Current Liabilities 274.4 259.1 232.09 167.77 164.14 164.14 164.14
Total Current Liabilities 399.94 435.11 417.41 381.91 408.98 439.5861 468.3948
Total Liabilities and Equity 2087.69 2310.99 2220.18 2231.16 2230.61 2466.016 2743.658

Fixed Assets 572.75 45822.1 703.82 685.49 729.94 775.5628 816.1207

Capital Work In Progress 0.8 174400.7 2.2 20.19 0 0 0
Total Fixed Assets 573.55 220222.8 706.02 705.68 729.94 775.5628 816.1207
Investment 98.06 205.39 205.39 205.39 155.39 155.39 155.39
Other Non-Current Assets 146.09 113.67 194.88 131.14 119.88 119.88 119.88
Total Non-Current Assets 817.7 220541.8 1106.29 1042.21 1005.21 1050.833 1091.391
Inventories 213.03 274.09 293.03 310.86 359.71 404.6753 447.0001
Accounts Receivables 477.81 610.93 624.01 630.01 641.75 721.9716 797.4821
Cash And Cash Equivalent 10.33 12.7 14.07 22.35 17.67 82.27 201.52
Other Current Assets 568.82 362.91 182.77 225.72 206.26 206.26 206.26
Total Current Assets 1269.99 1260.63 1113.88 1188.94 1225.39 1415.173 1652.257
Total Assets 2087.69 221802.4 2220.17 2231.15 2230.6 2466.006 2743.648
 22F 23F 24F
26.68 26.68 26.68
2072.91 2501.29 3083.19
2099.588 2527.967 3109.871
308.26 303.26 298.26
104.05 104.05 104.05
79.38 79.38 79.38
491.69 486.69 481.69
329.5261 349.8018 363.7938
164.14 164.14 164.14
493.6661 513.9418 527.9338
3084.944 3528.599 4119.495

858.7994 903.7101 950.9693

0 0 0
858.7994 903.7101 950.9693
155.39 155.39 155.39
119.88 119.88 119.88
1134.069 1178.98 1226.239
484.1277 513.916 534.4726
880.8903 973.0221 1074.79
379.59 656.41 1077.72
206.26 206.26 206.26
1950.864 2349.609 2893.246
3084.934 3528.589 4119.485
Particular 19 20E 21E 22F 23F 24F
PAT 188.06 222.60 266.63 333.81 441.18 594.70
Interest 35.48 21.97 9.60 9.45 9.30 9.15
Depreciation 42.44 47.03 50.07 52.07 54.15 56.32
Working Capital 726.73 756.62 851.20 940.23 1035.49 1137.14 1245.469
Change In Working Capital -29.89 -94.58 -89.03 -95.26 -101.64 -108.33
Operating Cash Flow 236.09 197.02 237.27 300.07 402.99 551.84
Capex -86.89 -92.66 -90.62 -94.75 -99.06 -103.58
Free Cash Flow to Firm 149.20 104.36 146.65 205.32 303.93 448.27
Investment Cash Flow -86.89 -92.66 -90.62 -94.75 -99.06 -103.58
Capital Issurance 0.00 0.00 0.00 0.00 0.00 0.00
Debt Issuance 0.00 -5.00 -5.00 -5.00 -5.00 -5.00
Interest -35.48 -21.97 -9.60 -9.45 -9.30 -9.15
Divident Payment -12.80 -12.80 -12.80 -12.80 -12.80 -12.80
Financial Cash Flow -48.28 -39.77 -27.40 -27.25 -27.10 -26.95
Net Cash Flow 64.60 119.25 178.07 276.82 421.31
Opening Cash Flow 17.67 82.27 201.52 379.59 656.41
Closing Cash Flow 82.27 201.52 379.59 656.41 1077.72
PVIF 1.00 0.89 0.80 0.71 0.64 0.57
PVCF 0.00 93.30 117.21 146.72 194.16 256.03

PVIF(2022) 0.89 0.80

PVCF(2022) 271.7186 358.2906

Terminal Value
FCFF(24F) 448.27
WACC 11.85%
Stable Growth Rate 6%
TV 8117.1698
PV of TV 4636.0791

Enterprise Value 5443.5026

MV of Debt 323.26
Cash 17.67
MV of Equity 5137.9126

Total Outstanding Share 133409265

Value Per Share (Present) 385.12

Value Per Share (2022) 538.88

Enterprise Value 7117.8937

MV of Debt 308.26
Cash 379.59
MV of Equity 7189.22

Exit P/E 22.395325

 Company FINANCIAL RATIO
Year 15 16 17 18 19 20E
Profitability Ratio
GPM (Gross Profit Margin) 50.34% 45.01% 44.15% 48.68% 50.62% 50.62%
EBITDA Margins 8.76% 9.92% 10.98% 15.24% 16.71% 16.55%
EBIT Margins 6.11% 7.27% 8.46% 12.96% 14.68% 14.56%
PAT Margins 1.60% 2.83% 2.99% 6.99% 8.91% 9.38%
ROE 2.87% 4.88% 4.85% 11.17% 14.30% 14.60%
Efficiency
Tax Rate (%) 45.06% 34.95% 36.53% 33.35% 34.18% 33.69%
Asset Turnover 0.015 0.015 0.807 0.940 1.005
Inventory Days 54.20 55.96 58.04 61.52 63.40 63.40
Accounts Payable Days 31.94 35.94 36.71 42.38 43.16 43.16
Accounts Receivable Days 120.73 137.19 138.05 127.98 111.71 111.71
Cash Conversion Cycle 142.99 157.22 159.39 147.12 131.95 131.95
Debt to Equity 0.89 0.85 0.64 0.46 0.25 0.21
Per Share Data
EPS 1.78 3.53 3.75 9.56 14.10 16.69
Divident 0.96 0.96 0.96 0.96 0.96 0.96
Book Value 62.16 72.19 77.20 85.61 98.56 114.29
ATIO
21E 22F 23F 24F

50.62% 51.59% 53.47% 56.19%

17.04% 18.96% 22.27% 26.81%
15.12% 17.15% 20.56% 25.21%
10.16% 11.51% 13.77% 16.81%
14.99% 15.90% 17.45% 19.12%

33.71% 34.00% 34.00% 34.00%

1.000 0.988 0.961 0.918
63.40 63.40 63.40 63.40
43.16 43.16 43.16 43.16
111.71 111.71 111.71 111.71
131.95 131.95 131.95 131.95
0.18 0.15 0.12 0.10

19.99 25.02 33.07 44.58

0.96 0.96 0.96 0.96
133.32 157.38 189.49 233.11
 Analyst 1 (HDFC Analyst 2 (DBS Analyst 3 (Kodak
Securities) Bank) Securities)
Particulars 20E 21 E 20E 21E 20E 21E
Income Statement Items
Revenue 23982 26613 23776 25985 23014 25576
EBITDA 3826 4352 4051 4569 3838 4400
EBIT 3301 3795 3596 4075 3407 3949
Other Income 149 164 143 243 133 133
Interest Expense 273 148 227 105 159 35
PBT 3177 3811 3513 4213 3382 4047
Tax 1078 1296 1159 1390 1156 1383
PAT 2098 2512 2354 2823 2226 2664
EPS 15.8 18.9 16.7 20
Balance Sheet
Equity Capital 267 267 267 267 267 267
Reserves 14758 17016 15035 17622 14887 17287
Borrowing 2219 899 2433 200 1670 370
Deferred Tax 1125 1125
Accounts Payable 2825 3123 4792 5326
Total Liabilities 17949 19049

Total Fixed Asset 8947 9447

Depreciation 2100 2550
Net Fixed Asset 7469 7518 6848 6897
Capital Work in Progress 160 160
Total Non-Current Asset 10228 10270 7008 7057
Investment 1560 1560
Inventory 3998 4513 3948 4387
Cash and Equivalent 348 741 603 626
Accounts Receivable 7208 7853 7043 7827
Total Current Asset 7951 8547 13860 15334
Total Asset 17949 19049
Cash Flow
Pre Tax Profit 0 3382 4047
Depreciation 424 525 431 451
Change in WC 299 500 -659 -917
Other Operating Activities -1156 -1493
Operating Cash Flow 2959 2397 3369 3969 1998 2088
Capex -667 694 -1500 -300 -300 -500
Free Cash Flow 2292 1703 1034 2284 1698 1588
Change In Investment 0 0
Investment Cash Flow -300 -500
Equity Raised 0 0
Debt Raised -1700 -1300
Divident -221 -265
CF From Financing -1921 -1565
Change in Cash -223 23
Opening Cash 825 603
Closing Cash 603 626
 Income Statement: Radico Khaitan
Year 18 19 20E 21E 22F 23F
Net Revenues 1796.85 2096.94 2359.067 2605.8 2878.339 3179.383
RM Cost 922.21 1035.37 1164.796 1286.621 1393.487 1479.228
Gross Profit 874.64 1061.57 1194.271 1319.179 1484.852 1700.154
Employee Cost 154.97 171.38 196.426 204.2789 212.4501 220.9481
Other Expenses 445.83 539.86 607.3449 670.8667 726.5886 771.2954
Total Operating Cost 600.8 711.24 803.7709 875.1456 939.0387 992.2435
EBITDA 273.84 350.33 390.5 444.0333 545.8131 707.9109
Depriciation 40.9 42.44 47.03333 50.06667 52.06933 54.15211
EBIT 232.94 307.89 343.4667 393.9667 493.7437 653.7588
Interest 68.24 35.48 21.96667 9.6 9.451513 9.303025
Other Income 26.67 13.29 14.16667 18 21.48706 23.9981
PBT 191.37 285.7 335.7333 402.3667 505.7793 668.4539
Tax 63.83 97.64 113.1 135.6333 171.965 227.2743
PAT 127.54 188.06 222.6 266.6333 333.8143 441.1796
tan Balance Sheet: Radico Kh
24F Year 18 19
3511.912 Equity Capital 26.66 26.68
1538.397 Reserves 1115.46 1288.26
1973.515 Total Reserve and Equity Capital 1142.12 1314.94
229.786 Borrrowing 522.2 323.26
802.1473 Deferred Tax Liabilities 92.52 104.05
1031.933 Long Term Provision 92.41 79.38
941.5818 Total Non-Current Liabilities 707.13 506.69
56.31819 Accounts Payable 214.14 244.84
885.2636 Other Current Liabilities 167.77 164.14
9.154538 Total Current Liabilities 381.91 408.98
24.95802 Total Liabilities and Equity 2231.16 2230.61
901.067
306.3628 Fixed Assets 685.49 729.94
594.7042 Capital Work In Progress 20.19 0
Total Fixed Assets 705.68 729.94
Investment 205.39 155.39
Other Non-Current Assets 131.14 119.88
Total Non-Current Assets 1042.21 1005.21
Inventories 310.86 359.71
Accounts Receivables 630.01 641.75
Cash And Cash Equivalent 22.35 17.67
Other Current Assets 225.72 206.26
Total Current Assets 1188.94 1225.39
Total Assets 2231.15 2230.6
heet: Radico Khaitan Cash Flow Statement : Ra
20E 21E 22F 23F 24F Year
26.68 26.68 26.68 26.68 26.68 PAT
1498.06 1751.893 2072.908 2501.287 3083.191 Interest
1524.74 1778.573 2099.588 2527.967 3109.871 Depreciation
318.26 313.26 308.26 303.26 298.26 Working Capital
104.05 104.05 104.05 104.05 104.05 Change In Working Capital
79.38 79.38 79.38 79.38 79.38 Operating Cash Flow
501.69 496.69 491.69 486.69 481.69 Capex
275.4461 304.2548 329.5261 349.8018 363.7938 Investment Cash Flow
164.14 164.14 164.14 164.14 164.14 Capital Issurance
439.5861 468.3948 493.6661 513.9418 527.9338 Debt Issuance
2466.016 2743.658 3084.944 3528.599 4119.495 Interest
Divident Payment
775.5628 816.1207 858.7994 903.7101 950.9693 Financial Cash Flow
0 0 0 0 0 Net Cash Flow
775.5628 816.1207 858.7994 903.7101 950.9693 Opening Cash Flow
155.39 155.39 155.39 155.39 155.39 Closing Cash Flow
119.88 119.88 119.88 119.88 119.88
1050.833 1091.391 1134.069 1178.98 1226.239
404.6753 447.0001 484.1277 513.916 534.4726
721.9716 797.4821 880.8903 973.0221 1074.79
82.26635 201.5153 379.5863 656.4109 1077.724
206.26 206.26 206.26 206.26 206.26
1415.173 1652.257 1950.864 2349.609 2893.246
2466.006 2743.648 3084.934 3528.589 4119.485
low Statement : Radico Khaitan Financial Ratio
20E 21E 22F 23F 24F Year
222.60 266.63 333.81 441.18 594.70 Profita
21.97 9.60 9.45 9.30 9.15 GPM (Gross Profit Margin)
47.03 50.07 52.07 54.15 56.32 EBITDA Margins
756.62 851.20 940.23 1035.49 1137.14 EBIT Margins
-94.58 -89.03 -95.26 -101.64 -108.33 PAT Margins
197.02 237.27 300.07 402.99 551.84 ROE
-92.66 -90.62 -94.75 -99.06 -103.58 Effici
-92.66 -90.62 -94.75 -99.06 -103.58 Tax Rate (%)
0.00 0.00 0.00 0.00 0.00 Asset Turnover
-5.00 -5.00 -5.00 -5.00 -5.00 Inventory Days
-21.97 -9.60 -9.45 -9.30 -9.15 Accounts Payable Days
-12.80 -12.80 -12.80 -12.80 -12.80 Accounts Receivable Days
-39.77 -27.40 -27.25 -27.10 -26.95 Cash Conversion Cycle
64.60 119.25 178.07 276.82 421.31 Debt to Equity
17.67 82.27 201.52 379.59 656.41
82.27 201.52 379.59 656.41 1077.72
nancial Ratio : Radico Khaitan
17 18 19 20E 21E
Profitability Ratio
44.2% 48.7% 50.6% 50.6% 50.6%
11.0% 15.2% 16.7% 16.6% 17.0%
8.5% 13.0% 14.7% 14.6% 15.1%
3.0% 7.0% 8.9% 9.4% 10.2%
4.9% 11.2% 14.3% 14.6% 15.0%
Efficiency Ratio
37% 33% 34% 34% 34%
0.01 0.81 0.94 1.00 1.00
58.04 61.52 63.40 63.40 63.40
36.71 42.38 43.16 43.16 43.16
138.05 127.98 111.71 111.71 111.71
159.39 147.12 131.95 131.95 131.95
0.64 0.46 0.25 0.21 0.18
Letter Past Values
Letter Analyst Estimate or Hard Coded
Lettter Calculated or Estimated
Prism Johnson 5 4 3 2 1
Standalone Profit & Loss account

Year 15 16 17 18 19

34% 14% 29% 29%

Revenue From Operations [Gross] 3168.67 4244.67 4837.87 6244.45 8058
Less: Excise/Sevice Tax/Other Levies 1724.17 2619.27 3188.05 4447.6 5961.06
Revenue From Operations [Net] 1444.5 1625.4 1649.82 1796.85 2096.95
Other Operating Revenues 43.89 26.42 30.08 25.91 0
Total Operating Revenues 1488.39 1651.82 1679.9 1822.77 2096.95
Other Income 44.99 38.87 19.65 26.67 13.29
Total Revenue 1533.38 1690.69 1699.55 1849.44 2110.23
Expense 0 0 0 0 0

Cost Of Materials Consumed 670.78 881.36 902.46 939.2 1065.9

Purchase Of Stock-In Trade 39.21 16.65 14.53 25.54 11.17
Changes In Inventories Of FG,WIP And
Stock-In Trade 7.34 -4.19 4.42 -12.53 -41.7
Employee Benefit Expenses 107.25 128.34 141.17 154.97 171.38
Finance Costs 89.94 84.75 80.38 68.24 35.48
Depreciation And Amortisation Expenses 38.32 43.13 41.7 40.9 42.44
Other Expenses 493.4 441.93 406.03 445.83 539.86
Total Expenses 1446.25 1591.97 1590.7 1662.16 1824.52
42064 42430 42795 43160 43525
0 0 0 0 0
12 mths 12 mths 12 mths 12 mths 12 mths
0 0 0 0 0
Profit/Loss Before Tax 87.13 98.72 108.85 187.28 285.71
Current Tax 17.5 27.35 14.02 39.78 97.64
Deferred Tax 1.99 -2.71 14.72 24.05 0
Tax For Earlier Years 0 0.63 0.04 0 0
Total Tax Expenses 19.49 25.27 28.78 63.83 97.64
Profit/Loss After Tax And Before
ExtraOrdinary Items 67.64 73.45 80.07 123.45 188.06
Profit/Loss From Continuing Operations
67.64 73.45 80.07 123.45 188.06
Profit/Loss For The Period 67.64 73.45 80.07 123.45 188.06
Equity Share Dividend 0 0 0 0 0
Equity Dividend Rate (%) 0 0 0 0 30.34
Retained Earning
 -------------
Radico Khaitan ------ in 1 2 3 4
Standalone Profit & Loss account Rs. Cr.
-------------
Mar 19 Mar-18 Mar-17 Mar-16
------

12 mths 12 mths 12 mths 12 mths

INCOME
Revenue From Operations [Gross] 8,058.00 6,244.45 4,837.87 4,244.67
Less: Excise/Sevice Tax/Other Levies 5,961.06 4,447.60 3,188.05 2,619.27
Revenue From Operations [Net] 2,096.95 1,796.85 1,649.82 1,625.40
Other Operating Revenues 0 25.91 30.08 26.42
Total Operating Revenues 2,096.95 1,822.77 1,679.90 1,651.82
Other Income 13.29 26.67 19.65 38.87
Total Revenue 2,110.23 1,849.44 1,699.55 1,690.69
EXPENSES
Cost Of Materials Consumed 1,065.90 939.2 902.46 881.36
Purchase Of Stock-In Trade 11.17 25.54 14.53 16.65
Changes In Inventories Of FG,WIP And Stock-In Trade -41.7 -12.53 4.42 -4.19
Employee Benefit Expenses 171.38 154.97 141.17 128.34
Finance Costs 35.48 68.24 80.38 84.75
Depreciation And Amortisation Expenses 42.44 40.9 41.7 43.13
Other Expenses 539.86 445.83 406.03 441.93
Total Expenses 1,824.52 1,662.16 1,590.70 1,591.97
Mar-19 Mar-18 Mar-17 Mar-16

12 mths 12 mths 12 mths 12 mths

Profit/Loss Before Exceptional, ExtraOrdinary Items And Tax 285.71 187.28 108.85 98.72
Profit/Loss Before Tax 285.71 187.28 108.85 98.72

Tax Expenses-Continued Operations

Current Tax 97.64 39.78 14.02 27.35

Deferred Tax 0 24.05 14.72 -2.71
Tax For Earlier Years 0 0 0.04 0.63
Total Tax Expenses 97.64 63.83 28.78 25.27
Profit/Loss After Tax And Before ExtraOrdinary Items 188.06 123.45 80.07 73.45
Profit/Loss From Continuing Operations 188.06 123.45 80.07 73.45
Profit/Loss For The Period 188.06 123.45 80.07 73.45
Mar-19 Mar-18 Mar-17 Mar-16

12 mths 12 mths 12 mths 12 mths

OTHER ADDITIONAL INFORMATION

EARNINGS PER SHARE

Basic EPS (Rs.) 14.1 9.26 6.02 5.52

Diluted EPS (Rs.) 14.08 9.25 6 5.5

VALUE OF IMPORTED AND INDIGENIOUS RAW MATERIALS

Imported Raw Materials 0 0 0 0

Indigenous Raw Materials 0 0 0 0

STORES, SPARES AND LOOSE TOOLS

DIVIDEND AND DIVIDEND PERCENTAGE

Equity Share Dividend 0 12.82 12.81 10.64

Tax On Dividend 0 0 0 2.17
Equity Dividend Rate (%) 60 50 40 40
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend 30.34 0 0 0
Equity Dividend Rate (%) 5 0 0 0
 5

Mar-15

12 mths

3,168.67
1,724.17
1,444.50
43.89
1,488.39
44.99
1,533.38

670.78
39.21
7.34
107.25
89.94
38.32
493.4
1,446.25
Mar-15

12 mths

87.13
87.13

17.5
1.99
0
19.49
67.64
67.64
67.64
Mar-15

12 mths
 5.08
5.08

6.76
422.63

10.64
2.17
40

0
0
 5 4 3 2 1
Radico Khaitan
Standalone Balance Sheet
Year 15 16 17 18 19

EQUITIES AND LIABILITIES 0 0 0 0 0

SHAREHOLDER'S FUNDS 0 0 0 0 0
Equity Share Capital 26.61 26.61 26.61 26.66 26.68
Total Share Capital 26.61 26.61 26.61 26.66 26.68
Reserves and Surplus 793.97 936.51 1003.28 1115.46 1288.26
Total Reserves and Surplus 802.68 936.51 1003.28 1115.46 1288.26
Total Shareholders Funds 829.28 963.12 1029.89 1142.12 1314.94
NON-CURRENT LIABILITIES 0 0 0 0 0
Long Term Borrowings 326.02 195.73 103.31 34.4 21.66
Deferred Tax Liabilities [Net] 71.52 54.98 69.28 92.52 104.05
Other Long Term Liabilities 0.71 1.16 0.79 1.03 0.66
Long Term Provisions 5.89 7.18 8.37 9.81 10.37
Total Non-Current Liabilities 404.13 259.05 181.75 137.76 136.73
CURRENT LIABILITIES 0 0 0 0 0
Short Term Borrowings 412.41 620.06 550.91 487.8 301.6
Trade Payables 125.54 176.01 185.32 214.14 244.84
Other Current Liabilities 274.4 259.1 232.09 167.77 164.14
Short Term Provisions 41.93 33.65 40.22 81.57 68.35
Total Current Liabilities 854.27 1088.82 1008.54 951.28 778.93
Total Capital And Liabilities 2087.69 2310.99 2220.18 2231.16 2230.6
ASSETS
NON-CURRENT ASSETS 0 0 0 0 0
Tangible Assets 541.97 704.5 682.87 667.69 729.94
Intangible Assets 30.78 24.89 20.95 17.8 0
Capital Work-In-Progress 0.8 1.91 2.2 20.19 0
Fixed Assets 573.55 731.3 706.02 705.68 729.94
Non-Current Investments 48.06 155.39 155.39 155.39 155.39
Long Term Loans And Advances 143.86 56.16 63.3 29.01 8.03
Other Non-Current Assets 2.23 57.51 131.58 102.13 111.85
Total Non-Current Assets 767.7 1000.36 1056.3 992.21 1005.21
CURRENT ASSETS
Current Investment 50 50 50 50 0
Inventories 213.03 274.09 293.03 310.86 359.71
Trade Receivables 477.81 610.93 624.01 630.01 641.75
Cash And Cash Equivalents 10.33 12.7 14.07 22.35 17.67
Short Term Loans And Advances 514.09 168.25 58.74 54.49 46.7
Other Current Assets 54.73 194.66 124.03 171.23 159.56
Total Current Assets 1319.99 1310.63 1163.89 1238.94 1225.39
Total Assets 2087.69 2310.99 2220.18 2231.16 2230.6
Difference
Balancing Element

#REF!
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Radico Khaitan Previous
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Standalone Balance Sheet Rs. Cr.
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Mar 19 Mar-18 Mar-17 Mar-16 Mar-15
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12 mths 12 mths 12 mths 12 mths 12 mths

EQUITIES AND LIABILITIES

SHAREHOLDER'S FUNDS
Equity Share Capital 26.68 26.66 26.61 26.61 26.61
Total Share Capital 26.68 26.66 26.61 26.61 26.61
Revaluation Reserves 0 0 0 0 8.71
Reserves and Surplus 1,288.26 1,115.46 1,003.28 936.51 793.97
Total Reserves and Surplus 1,288.26 1,115.46 1,003.28 936.51 802.68
Total Shareholders Funds 1,314.94 1,142.12 1,029.89 963.12 829.28
NON-CURRENT LIABILITIES
Long Term Borrowings 21.66 34.4 103.31 195.73 326.02
Deferred Tax Liabilities [Net] 104.05 92.52 69.28 54.98 71.52
Other Long Term Liabilities 0.66 1.03 0.79 1.16 0.71
Long Term Provisions 10.37 9.81 8.37 7.18 5.89
Total Non-Current Liabilities 136.73 137.76 181.75 259.05 404.13
CURRENT LIABILITIES
Short Term Borrowings 301.6 487.8 550.91 620.06 412.41
Trade Payables 244.84 214.14 185.32 176.01 125.54
Other Current Liabilities 164.14 167.77 232.09 259.1 274.4
Short Term Provisions 68.35 81.57 40.22 33.65 41.93
Total Current Liabilities 778.93 951.28 1,008.54 1,088.82 854.27
Total Capital And Liabilities 2,230.60 2,231.16 2,220.18 2,310.99 2,087.69
ASSETS
NON-CURRENT ASSETS
Tangible Assets 729.94 667.69 682.87 704.5 541.97
Intangible Assets 0 17.8 20.95 24.89 30.78
Capital Work-In-Progress 0 20.19 2.2 1.91 0.8
Fixed Assets 729.94 705.68 706.02 731.3 573.55
Non-Current Investments 155.39 155.39 155.39 155.39 48.06
Long Term Loans And Advances 8.03 29.01 63.3 56.16 143.86
Other Non-Current Assets 111.85 102.13 131.58 57.51 2.23
Total Non-Current Assets 1,005.21 992.21 1,056.30 1,000.36 767.7
CURRENT ASSETS
Current Investments 0 50 50 50 50
Inventories 359.71 310.86 293.03 274.09 213.03
Trade Receivables 641.75 630.01 624.01 610.93 477.81
Cash And Cash Equivalents 17.67 22.35 14.07 12.7 10.33
Short Term Loans And Advances 46.7 54.49 58.74 168.25 514.09
OtherCurrentAssets 159.56 171.23 124.03 194.66 54.73
Total Current Assets 1,225.39 1,238.94 1,163.89 1,310.63 1,319.99
Total Assets 2,230.60 2,231.16 2,220.18 2,310.99 2,087.69
OTHER ADDITIONAL INFORMATION
CONTINGENT LIABILITIES, COMMITMENTS
Contingent Liabilities 0 19.05 12.9 185.04 285.89
CIF VALUE OF IMPORTS
Raw Materials 0 0 0 0 6.76
Stores, Spares And Loose Tools 0 0 0 0 1.42
Trade/Other Goods 0 0 0 0 3.46
Capital Goods 0 0 0 0 1.52
EXPENDITURE IN FOREIGN EXCHANGE
Expenditure In Foreign Currency 0 0 0 0 33.34
REMITTANCES IN FOREIGN CURRENCIES FOR DIVIDENDS
Dividend Remittance In Foreign Currency - 0 0 0 0
EARNINGS IN FOREIGN EXCHANGE
FOB Value Of Goods - 115.3 155.89 191.95 258.56
Other Earnings - - - - -
BONUS DETAILS
Bonus Equity Share Capital - - - - -
NON-CURRENT INVESTMENTS
Non-Current Investments Quoted Market Value - - - - -
Non-Current Investments Unquoted Book Value - 155.39 155.39 155.39 48.06
CURRENT INVESTMENTS
Current Investments Quoted Market Value - - - - -
Current Investments Unquoted Book Value - 50 50 50 50