Particular 2008 2009 2010 2011

A. Income :

Revenue from Operations

Gross Revenue from Sale of Products and
Services 51792.4 56129.6

Less : Excise Duty 1763.1 1354.7

Net Revenue from Sale of Products and

Services

Other Operating Revenue 250.3 86.1

Revenue from Operations (Net)

B. Cost of sales (Direct Expenses)

Cost of Materials Consumed 20737.5 19112.1

Purchases of Stock-in-Trade 8257.2 9068.6

Changes in Inventories of Finished Goods,
Work-in-Progress, Stock-in-Trade and
Manufactured Components

-1872.3 1936.9
Total (Cost of Production)

C. Gross Profit

D. Indirect Expenses
Employee benefit expenses
Finance cost
Other expenses
 Cost of Manufactured/Purchased Products
Capitalised
Total Indirect Expenses

E. EBITDA

Depreciation
Amortization
Total Depreciation and Amortisation Expense

F. EBIT
Interest Expense
Other income

G. Profit Before Exceptional Items and Tax

Add : Exceptional Items

Profit Before Tax

(Add)/Less : Tax Expense

Current Tax

Less : MAT Credit Entitlement

Net Current Tax

Deferred Tax (Net)

 Profit for the year before share of Profit/
(Loss) of Associates and Minority Interest

Add/(Less) : Share of Profit/(Loss) of Associates

for the year

– From Ordinary Activities

– Exceptional Items

Add/(Less) : Share of Profit/(Loss) of Associates

- Earlier period items

H. – From Ordinary Activities

– Exceptional Items
Profit before Minority Interest

Minority Share in (Profit)/Loss .

Net Profit for the year

Diluted Weighted Average Shares (millions)

earnings per share

Basic
Diluted

Tax rate
2012 2013 2014 2015 2016 2017 2018 2019
Corporate Bridge Academy
Financial Modeling of HAVELLS INDIA LTD

Income Statement -1
(All data is Millions INR, except per share information, A - Actual, E - Estimated)
(Blue for actual data, Black for calculations, Green for Linkage)
Particular 2009 2010 2011
A. Income :

Revenue from Operations

Gross Revenue from Sale of

Products and Services 23338.20 25782.90 30218.60

Less : Excise Duty 1307.10 1070.90 1639.50

Net Revenue from Sale of
Products and Services 22031.10 24712.00 28579.10

Other Operating Revenue 53.10 0.00 237.40

Revenue from Operations
(Net) 22084.20 24712.00 28816.50

B. Cost of sales (Direct Expenses)

Cost of Materials Consumed (11619.50) (14222.90) (17064.40)

Purchases of Stock-in-Trade (1978.70) (2908.90) (3015.40)

Changes in Inventories of
Finished Goods, Work-in-
Progress, Stock-in-Trade and (1737.50) (75.99) (1138.80)
Manufactured Components
Total (Cost of Production) (15335.70) (17207.79) (21218.60)

C. Gross Profit 6748.50 7504.21 7597.90

D. Indirect Expenses
Employee benefit expenses (881.40) (796.80) (1103.40)
Finance cost 0.00 (71.80) (191.40)
Other expenses (3808.10) (4389.60) (5365.90)

Cost of
Manufactured/Purchased
Products Capitalised 0.00 0.00
Total Indirect Expenses (4689.50) (5258.20) (6660.70)

E. EBITDA 2059.00 2246.01 937.20

Depreciation 0.00 0.00 0.00

 Amortization 0.00 0.00 0.00
Total Depreciation and Amortisation Ex (178.60) (232.70) 293.40

F. EBIT 1880.40 2013.31 1230.60

Interest Expense (210.00) 0.00 (901.78)
Other income 0.00 0.00 177.20

G. Profit Before Exceptional Items and Tax 1670.40 2013.31 506.02

Add : Exceptional Items 0.00 0.00 0.00

Profit Before Tax 1670.40 2013.31 506.02

(Add)/Less : Tax Expense

Current Tax 191.40 497.50 621.70

Less : MAT Credit
Entitlement 0.00 0.00 (41.44)

Net Current Tax 191.40 497.50 580.26

Deferred Tax (Net) 12.80 123.50 98.10
(204.20) (621.00) 678.36
Profit for the year before
share of Profit/(Loss) of
Associates and Minority
Interest 1466.20 1392.31 1184.38

Add/(Less) : Share of Profit/

(Loss) of Associates for the
year
– From Ordinary Activities 0.00 0.00 0.00
– Exceptional Items 0.00 0.00 —

Add/(Less) : Share of Profit/

(Loss) of Associates - Earlier
period items

H. – From Ordinary Activities 0.00 0.00 0.00

– Exceptional Items 0.00 0.00 0.00
1466.20 1392.31 1184.38

Minority Share in
(Profit)/Loss . 0.00 0.00
Net Profit for the year 1466.20 1392.31 1184.38

Diluted Weighted Average Shares (millio 6.07 3.67 6.11

earnings per share

Basic 241.40 379.30 194.00
Diluted 241.40 379.30 194.00

Tax rate 0.11 0.25 1.23

 Back to Index

2012 2013

38057.20 44802.80

2149.50 2813.80

37808.80 44541.90

248.40 260.90

38057.20 44802.80

(20515.90) (22663.30)

(3533.80) (4226.60)

(1138.80) (392.30)
(25188.50) (27282.20)

12868.70 17520.60

(1417.10) (1753.40)
(443.90) (285.50)
(7271.20) (8668.60)

0.00
(9132.20) (10707.50)

3736.50 6813.10

0.00 0.00
 0.00 0.00
446.60 578.80

4183.10 7391.90
(1215.40) (1232.20)
71.70 104.90

3039.40 6264.60

0.00 0.00

3039.40 6264.60

748.50 918.70

67.60 (12.40)

816.10 906.30
(0.12) 62.90
815.98 969.20

3855.38 7233.80

0.00 0.00
0.00 0.00

0.00 0.00
0.00 0.00
3855.38 7233.80

0.00 0.00
3855.38 7233.80

15.75 24.31

244.80 297.60
244.80 297.60

0.25 0.15