Date Open PriceHigh Price Low Price Close PriceWAP No.of SharNo.

of Tra Total TurnoDeliverabl

31-Jan-14 109 113.9 108 113.1 111.297 782262 6289 87063393 205323
28-Feb-14 129 133.2 128 131.8 129.9975 1207479 5881 1.57E+08 576122
31-Mar-14 157.4 161 156.5 159.3 159.0341 652100 5830 1.04E+08 140893
30-Apr-14 163.6 163.6 154.8 158.85 159.1114 535087 7831 85138433 86678
30-May-14 177.5 182.5 175.75 176.6 179.4505 402147 7628 72165498 91655
30-Jun-14 196.5 199.75 196.5 199 198.4444 288328 5629 57217087 75189
31-Jul-14 172.5 176.2 170.55 174.6 173.9384 263128 5839 45768060 43418
28-Aug-14 167 169.35 164.75 165.2 166.6824 214200 3733 35703373 60544
30-Sep-14 191.6 206 190.75 203.05 202.2014 1115994 21145 2.26E+08 154586
31-Oct-14 216.65 222.8 216.1 218.65 219.4917 463546 11048 1.02E+08 124616
28-Nov-14 224.4 232.55 224.4 228.15 229.638 429481 12767 98625142 91011
31-Dec-14 220.5 224.45 220.5 223.1 223.0425 117536 3637 26215526 29965
30-Jan-15 236.1 245.8 234.1 242.4 241.4699 590332 14480 1.43E+08 107211
28-Feb-15 181 181.6 172.65 175.25 176.8809 378376 6531 66927478 63633
31-Mar-15 167 173.25 163.5 168.25 167.1326 6099237 9930 1.02E+09 5496977
30-Apr-15 172.5 175 171.75 173.15 173.5108 136334 2336 23655417 32493
29-May-15 181.7 191 180.4 189.85 186.2022 271672 2971 50585931 80911
30-Jun-15 165 170.5 164 169.7 167.744 167403 2422 28080857 18765
31-Jul-15 208 209.9 199.9 202.5 205.1918 682965 3930 1.4E+08 387611
31-Aug-15 181 184.7 178.9 180.05 181.9154 195125 2334 35496245 38192
30-Sep-15 182 185.5 178.1 179.9 181.1719 164129 3210 29735570 36708
30-Oct-15 182.1 182.1 168.4 171.05 173.8522 545550 6144 94845083 111931
30-Nov-15 163.5 165.1 161.3 162.4 163.2175 132930 1656 21696504 30699
31-Dec-15 156.5 157.75 155 156.15 156.0699 76124 1191 11880666 19187
29-Jan-16 146 148.55 143.3 147.6 146.5627 137112 1679 20095511 16145
29-Feb-16 155.1 160.4 152.55 157.9 155.6985 176519 2580 27483736 12888
31-Mar-16 172.75 176.7 171.8 175 174.7952 189547 2674 33131907 33418
29-Apr-16 165 165 158.15 160.2 160.8667 180631 2683 29057516 56284
31-May-16 153.3 158.6 153.3 156.25 156.4656 66313 1527 10375706 23159
30-Jun-16 153.65 154.15 151.1 151.5 152.1031 195421 1719 29724149 36403
29-Jul-16 165 165.15 161.65 163.1 163.2949 202019 2083 32988668 44158
31-Aug-16 184.85 186.15 181.3 183 183.8895 337808 2989 62119336 33112
30-Sep-16 210 221.1 210 220.2 217.2448 494589 4645 1.07E+08 55694
30-Oct-16 204 204 200 201.35 201.4486 37654 407 7585344 16569
30-Nov-16 185 192 185 191.05 190.5051 453364 5780 86368159 61859
30-Dec-16 185.85 186.7 183.8 184.95 185.3049 147700 1454 27369535 17347
31-Jan-17 184 184 179.05 180.7 181.224 230521 2449 41775939 49992
28-Feb-17 185.1 189.3 185.1 187.6 187.9329 214475 2374 40306899 59214
31-Mar-17 208.65 210.8 207.85 208.65 209.0709 161897 1540 33847955 34006
28-Apr-17 247.85 248 242.3 244.1 244.9164 197174 1915 48291140 34119
31-May-17 228.65 231.55 227 228.4 227.5235 502748 1390 1.14E+08 352141
30-Jun-17 230.85 248.5 230.85 241 241.0801 245596 1584 59208306 38957
31-Jul-17 265 270 261.3 266.55 265.9494 201375 1921 53555551 37822
31-Aug-17 248 254.45 248 253.2 251.8915 229160 1889 57723464
29-Sep-17 244.5 249.3 244.2 244.95 246.5594 194781 1776 48025090 53018
31-Oct-17 246.8 249 243.7 245.3 245.2301 192185 1630 47129553 56025
30-Nov-17 258 258 249.05 250.7 252.3716 203885 1797 51454784 54401
29-Dec-17 269.5 270.15 266.25 268.8 268.4344 82962 722 22269853 15866
31-Jan-18 264.5 264.5 253.8 254.75 257.573 129103 1199 33253445 23752
28-Feb-18 267.1 275.3 262.05 274.6 271.2255 204997 2346 55600417 33605
28-Mar-18 275.5 279.5 271.7 275.4 274.4773 148118 1283 40655028 26112
30-Apr-18 295 296.65 293.25 294.45 294.7263 94838 997 27951256 30967
31-May-18 276 277.65 267 269.15 272.1632 83875 944 22827691 27367
29-Jun-18 254 258.75 251.3 255.15 254.812 101857 1106 25954385 8497
31-Jul-18 289.75 296 287.65 292.8 292.1166 147068 1583 42961000 29000
30-Aug-18 253 253 248.8 250.65 250.5085 108213 1282 27108281 21347
28-Sep-18 217.5 221.2 206.1 212.35 213.8179 485608 4578 1.04E+08 58603
31-Oct-18 215.9 219.3 209.75 218.35 214.6901 111795 1051 24001283 8806
30-Nov-18 237.15 239.9 234.65 238.4 237.4804 129342 1436 30716187 19507
31-Dec-18 234.9 237.3 234 235.9 235.7471 67638 656 15945459 12527
% Deli. QtySpread Hi Spread Close-Open
26.25 5.9 4.1
47.71 5.2 2.8
21.61 4.5 1.9
16.2 8.8 -4.75
22.79 6.75 -0.9
26.08 3.25 2.5
16.5 5.65 2.1
28.27 4.6 -1.8
13.85 15.25 11.45
26.88 6.7 2
21.19 8.15 3.75
25.49 3.95 2.6
18.16 11.7 6.3
16.82 8.95 -5.75
90.13 9.75 1.25
23.83 3.25 0.65
29.78 10.6 8.15
11.21 6.5 4.7
56.75 10 -5.5
19.57 5.8 -0.95
22.37 7.4 -2.1
20.52 13.7 -11.05
23.09 3.8 -1.1
25.2 2.75 -0.35
11.78 5.25 1.6
7.3 7.85 2.8
17.63 4.9 2.25
31.16 6.85 -4.8
34.92 5.3 2.95
18.63 3.05 -2.15
21.86 3.5 -1.9
9.8 4.85 -1.85
11.26 11.1 10.2
44 4 -2.65
13.64 7 6.05
11.74 2.9 -0.9
21.69 4.95 -3.3
27.61 4.2 2.5
21 2.95 0
17.3 5.7 -3.75
70.04 4.55 -0.25
15.86 17.65 10.15
18.78 8.7 1.55
6.45 5.2
27.22 5.1 0.45
29.15 5.3 -1.5
26.68 8.95 -7.3
19.12 3.9 -0.7
18.4 10.7 -9.75
16.39 13.25 7.5
17.63 7.8 -0.1
32.65 3.4 -0.55
32.63 10.65 -6.85
8.34 7.45 1.15
19.72 8.35 3.05
19.73 4.2 -2.35
12.07 15.1 -5.15
7.88 9.55 2.45
15.08 5.25 1.25
18.52 3.3 1
Date Open High Low Close
31-Jan-14 20544.64 20572.32 20448.43 20513.85
28-Feb-14 20995.39 21140.51 20989.66 21120.12
31-Mar-14 22423.14 22467.21 22253.78 22386.27
30-Apr-14 22517.63 22680.46 22284.96 22417.8
30-May-14 24300.99 24353.59 24163.62 24217.34
30-Jun-14 25179.55 25460.96 25179.55 25413.78
31-Jul-14 26105.89 26118.88 25853.69 25894.97
28-Aug-14 26620.18 26674.38 26573.69 26638.11
30-Sep-14 26610.71 26851.33 26481.31 26630.51
31-Oct-14 27439.06 27894.32 27438.28 27865.83
28-Nov-14 28490.71 28822.37 28483.99 28693.99
31-Dec-14 27358.3 27527.24 27346 27499.42
30-Jan-15 29801.6 29844.16 29070.48 29182.95
28-Feb-15 29411.33 29560.32 28882.02 29361.5
31-Mar-15 28069.85 28180.64 27868.21 27957.49
30-Apr-15 27242.05 27242.05 26897.54 27011.31
29-May-15 27553.03 27888.32 27467.23 27828.44
30-Jun-15 27627.39 27814.53 27570.95 27780.83
31-Jul-15 27814.51 28161.17 27814.51 28114.56
31-Aug-15 26469.42 26504.73 26215.16 26283.09
30-Sep-15 25986.52 26179.7 25918.21 26154.83
30-Oct-15 26878.48 26942.29 26585.2 26656.83
30-Nov-15 26142.53 26231.06 26089.13 26145.67
31-Dec-15 25980.86 26147.63 25941.91 26117.54
29-Jan-16 24347.31 24911.9 24340.06 24870.69
29-Feb-16 23238.5 23343.22 22494.61 23002
31-Mar-16 25364.75 25479.62 25223.22 25341.86
29-Apr-16 25612.91 25755.43 25424.03 25606.62
31-May-16 26817.75 26837.2 26561.58 26667.96
30-Jun-16 26926.17 27069.23 26872.59 26999.72
29-Jul-16 28232.87 28233.47 28037.87 28051.86
31-Aug-16 28372.25 28532.25 28363.1 28452.17
30-Sep-16 27807.82 27955.21 27716.78 27865.96
30-Oct-16 28066.32 28095.71 27890.14 27930.21
30-Nov-16 26441.02 26680.55 26395.5 26652.81
30-Dec-16 26441.51 26678.6 26406.53 26626.46
31-Jan-17 27867.92 27867.92 27624.54 27655.96
28-Feb-17 28825.19 28876.54 28721.12 28743.32
31-Mar-17 29633.91 29687.64 29552.61 29620.5
28-Apr-17 30064.6 30067.64 29848.21 29918.4
31-May-17 31222.51 31255.28 31107.48 31145.8
30-Jun-17 30824.97 30965.45 30680.66 30921.61
31-Jul-17 32412.2 32546.5 32324.45 32514.94
31-Aug-17 31685.44 31757.18 31551.85 31730.49
29-Sep-17 31367.25 31523.87 31243.71 31283.72
31-Oct-17 33254.93 33294.3 33164.28 33213.13
30-Nov-17 33542.5 33576.2 33108.72 33149.35
29-Dec-17 33889.39 34086.05 33889.39 34056.83
31-Jan-18 35951.64 36050.69 35818.41 35965.02
28-Feb-18 34155.63 34302.74 34076.45 34184.04
28-Mar-18 33098.09 33104.11 32917.66 32968.68
30-Apr-18 35021.2 35213.3 35004 35160.36
31-May-18 35083.81 35416.03 34926.08 35322.38
29-Jun-18 35128.16 35459.05 35099.65 35423.48
31-Jul-18 37534.95 37644.59 37298.75 37606.58
31-Aug-18 38704.84 38838.45 38562.21 38645.07
28-Sep-18 36452.74 36551.86 35985.63 36227.14
31-Oct-18 33963.09 34463.38 33587.24 34442.05
30-Nov-18 36304.43 36389.22 36082.97 36194.3
31-Dec-18 36239.19 36285.46 36033.95 36068.33
Date Open High Low Close Shares Tra Turnover (Rs. Cr)
31-Jan-14 6082.75 6097.85 6067.35 6089.5 1.47E+08 5407.1
28-Feb-14 6228.45 6282.7 6228.1 6276.95 2.1E+08 7869.42
31-Mar-14 6723.15 6730.05 6662.4 6704.2 1.78E+08 7743.3
30-Apr-14 6724.95 6780.15 6656.8 6696.4 1.61E+08 7066.78
30-May-14 7254.85 7272.5 7118.45 7229.95 3.12E+08 13837.29
30-Jun-14 7534.05 7623.65 7531.6 7611.35 1.52E+08 7887.37
31-Jul-14 7784.65 7791.85 7711.15 7721.3 2.09E+08 11718.26
28-Aug-14 7942.25 7967.8 7939.2 7954.35 1.9E+08 10417.14
30-Sep-14 7948.8 8030.9 7923.85 7964.8 1.41E+08 7467.66
31-Oct-14 8200.8 8330.75 8198.05 8322.2 1.76E+08 9450.53
28-Nov-14 8516.8 8617 8516.25 8588.25 1.97E+08 10053.47
31-Dec-14 8243.9 8291 8243.75 8282.7 84532600 4221.32
30-Jan-15 8996.6 8996.6 8775.1 8808.9 2.76E+08 12385.18
28-Feb-15 8913.05 8941.1 8751.35 8901.85 2.46E+08 10064.41
31-Mar-15 8527.6 8550.45 8454.15 8491 1.77E+08 8108.36
30-Apr-15 8224.5 8229.4 8144.75 8181.5 2.82E+08 14755.35
29-May-15 8327.1 8443.9 8305.7 8433.65 3.75E+08 20736.2
30-Jun-15 8316.35 8378 8298.95 8368.5 1.63E+08 8425.52
31-Jul-15 8456.1 8548.95 8448 8532.85 2.1E+08 9522.19
31-Aug-15 8009.25 8043.6 7947.95 7971.3 2.04E+08 9547.7
30-Sep-15 7924.25 7957.7 7874.5 7948.9 2.17E+08 9981.56
30-Oct-15 8123.55 8146.1 8044.4 8065.8 2.06E+08 9218.39
30-Nov-15 7936.25 7966 7922.8 7935.25 2.23E+08 15368.67
31-Dec-15 7897.8 7955.55 7891.15 7946.35 1.56E+08 6780.85
29-Jan-16 7413.35 7575.65 7402.8 7563.55 3.08E+08 11277.33
29-Feb-16 7050.45 7094.6 6825.8 6987.05 4.88E+08 15992.15
31-Mar-16 7727.65 7777.6 7702 7738.4 3.92E+08 15918.74
29-Apr-16 7844.25 7889.05 7788.7 7849.8 2.51E+08 9872.58
31-May-16 8209.85 8213.6 8134.3 8160.1 4.86E+08 21491.53
30-Jun-16 8260.25 8308.15 8242.1 8287.75 2.88E+08 12346.32
29-Jul-16 8668.3 8670.35 8631.15 8638.5 1.62E+08 8428.8
31-Aug-16 8754.05 8819.2 8754.05 8786.2 3.73E+08 22534.29
30-Sep-16 8581.5 8637.15 8555.2 8611.15 1.87E+08 8849.27
30-Oct-16 8672.35 8678.25 8616.25 8625.7 16610872 805.89
30-Nov-16 8172.15 8234.25 8139.25 8224.5 2.56E+08 14473.78
30-Dec-16 8119.65 8197 8114.75 8185.8 1.31E+08 5800.7
31-Jan-17 8629.45 8631.75 8552.4 8561.3 5.37E+08 14721.17
28-Feb-17 8898.95 8914.75 8867.6 8879.6 3.03E+08 13819.57
31-Mar-17 9158.9 9191.7 9152.1 9173.75 1.97E+08 10955.05
28-Apr-17 9340.95 9342.65 9282.25 9304.05 1.67E+08 8673.32
31-May-17 9636.55 9649.6 9609.25 9621.25 4.27E+08 19605.94
30-Jun-17 9478.5 9535.8 9448.75 9520.9 1.85E+08 8783.59
31-Jul-17 10034.7 10085.9 10016.95 10077.1 2.45E+08 13131.89
31-Aug-17 9905.7 9925.1 9856.95 9917.9 3.38E+08 14619.43
29-Sep-17 9814.3 9854 9775.35 9788.6 2.02E+08 11087.11
31-Oct-17 10364.9 10367.7 10323.95 10335.3 2.4E+08 12830.06
30-Nov-17 10332.7 10332.7 10211.25 10226.55 3.53E+08 19005.56
29-Dec-17 10492.35 10538.7 10488.65 10530.7 1.57E+08 8943.1
31-Jan-18 11018.8 11058.5 10979.3 11027.7 2.53E+08 14459.69
28-Feb-18 10488.95 10535.5 10461.55 10492.85 2.95E+08 16299.11
28-Mar-18 10143.6 10158.35 10096.9 10113.7 3.55E+08 18807.48
30-Apr-18 10705.75 10759 10704.6 10739.35 1.79E+08 10412.57
31-May-18 10670.1 10763.8 10620.4 10736.15 6.29E+08 29479.77
29-Jun-18 10612.85 10723.05 10612.35 10714.3 2.5E+08 14440.17
31-Jul-18 11311.05 11366 11267.75 11356.5 2.64E+08 15297.4
31-Aug-18 11675.85 11727.65 11640.1 11680.5 3.57E+08 20755.73
28-Sep-18 11008.1 11034.1 10850.3 10930.45 4.93E+08 23227.86
31-Oct-18 10209.55 10396 10105.1 10386.6 3.87E+08 21513.85
30-Nov-18 10892.1 10922.45 10835.1 10876.75 4.68E+08 19964.33
31-Dec-18 10913.2 10923.55 10853.2 10862.55 1.86E+08 10176.13
Dates Apollo Tyres Close Price Raymond Close Price RBL Bank Close Price
31-Jan-14 113.1 270.75
28-Feb-14 131.8 274.9
31-Mar-14 159.3 301.35
30-Apr-14 158.85 310
30-May-14 176.6 339.35
30-Jun-14 199 406.35
31-Jul-14 174.6 422.1
28-Aug-14 165.2 453.85
30-Sep-14 203.05 437.85
31-Oct-14 218.65 464.1
28-Nov-14 228.15 489.05
31-Dec-14 223.1 502.5
30-Jan-15 242.4 509.4
28-Feb-15 175.25 503.65
31-Mar-15 168.25 444.75
30-Apr-15 173.15 445.65
29-May-15 189.85 432.6
30-Jun-15 169.7 465.75
31-Jul-15 202.5 469.3
31-Aug-15 180.05 393.45
30-Sep-15 179.9 427.1
30-Oct-15 171.05 421.25
30-Nov-15 162.4 414.35
31-Dec-15 156.15 428.75
29-Jan-16 147.6 410.15
29-Feb-16 157.9 399.4
31-Mar-16 175 406.3
29-Apr-16 160.2 420.6
31-May-16 156.25 463.85
30-Jun-16 151.5 465.3
29-Jul-16 163.1 458.8
31-Aug-16 183 413.15 299.3
30-Sep-16 220.2 533.4 291.35
30-Oct-16 201.35 617.9 391.1
30-Nov-16 191.05 508.8 364.25
30-Dec-16 184.95 492.15 335.3
31-Jan-17 180.7 496.9 382.4
28-Feb-17 187.6 627.2 480.7
31-Mar-17 208.65 633.25 494.2
28-Apr-17 244.1 747.7 564.65
31-May-17 228.4 695.35 526
30-Jun-17 241 723.25 505.15
31-Jul-17 266.55 793.55 534.7
31-Aug-17 253.2 776.55 544.6
29-Sep-17 244.95 813.65 505.95
31-Oct-17 245.3 892.5 524.4
30-Nov-17 250.7 966.45 517.55
29-Dec-17 268.8 1056 509.25
31-Jan-18 254.75 1049.15 504.8
28-Feb-18 274.6 955.15 489.2
28-Mar-18 275.4 898.55 476.9
30-Apr-18 294.45 1110.55 530.95
31-May-18 269.15 982.75 516.85
29-Jun-18 255.15 916.65 552.6
31-Jul-18 292.8 838.3 574.45
30-Aug-18 250.65 842.25 626.65
28-Sep-18 212.35 666.8 512.2
31-Oct-18 218.35 751.75 523.1
30-Nov-18 238.4 811.05 551.25
31-Dec-18 235.9 842.6 576.25
Titan Company Close Price Emami Close Price SSWL Close Price IndusInd Bank Close Price
221.55 456.05 121.25 383.8
242.2 463.1 124.65 397.45
254.75 435.1 144.65 501.2
310.75 475.55 153.6 479
341.05 464.1 164.7 533.85
362.95 507.45 278 571.15
393.2 541.1 291.15 560.35
370.05 653.3 277.65 583.7
430.55 697.4 281.7 619.15
420.5 810.1 300.85 718.85
382.8 772.6 359.5 751.55
377.5 788.75 343.6 802.55
323.85 919.25 356.5 871
337.75 967.25 335.6 915.95
348.7 1005.45 281.8 882.5
382 926.6 285.9 823.95
363.9 1117.6 302.5 874.7
316.35 1159.85 275.6 872.05
355.4 1310.3 360 977.6
359.2 1193.1 336.9 856.9
419.05 1152.8 337.3 942.25
418.15 1070.5 353.9 911.15
381.85 929.2 377.2 933.5
322.05 998.15 442.8 968.75
362.8 1006.5 355.2 926.9
436.65 983.55 295.1 830.85
471.25 930.8 338.5 967.6
474.7 1004.25 420.8 1049.2
543.2 1023.4 384.65 1103.6
616.6 1100.05 456.95 1110.65
634.3 1138.3 506.45 1178
819.05 1148.05 573.3 1185
869.05 1178.85 581.3 1196.35
815.95 1202.3 677.6 1194.7
981.05 1107.3 545.9 1089.4
901.35 955.9 617.7 1107.45
910.45 1035.15 682.8 1252.55
890.7 1041.2 720.7 1313.9
844.05 1054.9 827.8 1409.45
925.7 1057.9 905.65 1444.95
262.45 1083.65 847.2 1479.55
352.65 1072.8 876.9 1479.95
407.65 1105.55 881.6 1641.75
381.25 1083.7 860 1656.6
 392 1094.6 861.05 1679.05
366.15 1254.95 848.65 1627
318.15 1303.15 953.4 1661.55
346.7 1312.4 1130.75 1650.25
338.8 1124.35 1066.4 1754.15
404.7 1080.85 1017 1679.85
395.65 1068 1060.55 1795.6
325.75 1122.6 1391.35 1898.2
457.35 1047.45 1338.6 1948
523.6 527.9 1226.55 1939.3
582.7 591.25 1226.25 1994.4
856 565.95 1174.4 1903.85
941.2 493.35 1073.8 1687.05
878.85 395.1 953.6 1424.45
805.5 438.05 989.8 1631.55
929.95 418.2 932.55 1599.05
BSE S&P Sensex NIFTY 50 Returns on Apollo Tyres
20513.85 6089.5
21120.12 6276.95 0.1653404067
22386.27 6704.2 0.2086494689
22417.8 6696.4 -0.0028248588
24217.34 7229.95 0.1117406358
25413.78 7611.35 0.1268403171
25894.97 7721.3 -0.1226130653
26638.11 7954.35 -0.0538373425
26630.51 7964.8 0.2291162228
27865.83 8322.2 0.0768283674
28693.99 8588.25 0.0434484336
27499.42 8282.7 -0.0221345606
29182.95 8808.9 0.0865082922
29361.5 8901.85 -0.2770214521
27957.49 8491 -0.0399429387
27011.31 8181.5 0.0291233284
27828.44 8433.65 0.0964481663
27780.83 8368.5 -0.1061364235
28114.56 8532.85 0.1932822628
26283.09 7971.3 -0.1108641975
26154.83 7948.9 -0.0008331019
26656.83 8065.8 -0.0491939967
26145.67 7935.25 -0.0505700088
26117.54 7946.35 -0.0384852217
24870.69 7563.55 -0.0547550432
23002 6987.05 0.0697831978
25341.86 7738.4 0.1082963901
25606.62 7849.8 -0.0845714286
26667.96 8160.1 -0.0246566792
26999.72 8287.75 -0.0304
28051.86 8638.5 0.0765676568
28452.17 8786.2 0.1220110362
27865.96 8611.15 0.2032786885
27930.21 8625.7 -0.0856039964
26652.81 8224.5 -0.0511547057
26626.46 8185.8 -0.0319288144
27655.96 8561.3 -0.0229791836
28743.32 8879.6 0.0381848367
29620.5 9173.75 0.112206823
29918.4 9304.05 0.1699017493
31145.8 9621.25 -0.0643179025
30921.61 9520.9 0.0551663748
32514.94 10077.1 0.1060165975
31730.49 9917.9 -0.0500844119
31283.72 9788.6 -0.0325829384
33213.13 10335.3 0.001428863
33149.35 10226.55 0.0220138606
34056.83 10530.7 0.072197846
35965.02 11027.7 -0.0522693452
34184.04 10492.85 0.0779195289
32968.68 10113.7 0.0029133285
35160.36 10739.35 0.0691721133
35322.38 10736.15 -0.0859229071
35423.48 10714.3 -0.0520156047
37606.58 11356.5 0.1475602587
38645.07 11680.5 -0.143954918
36227.14 10930.45 -0.1528027129
34442.05 10386.6 0.028255239
36194.3 10876.75 0.0918250515
36068.33 10862.55 -0.0104865772
Risk Free Return per annum 12
rf (Monthly) 0.0041666667
Average Return 0.0175776442
variance of Returns 0.0102516328
Covariance with Sensex 0.0013240856
Covariance with Nifty 50 0.0014366509

Beta ei as per Sensex 0.8594267194

Beta ei as per Nifty 50 0.9193889885

CAPM returns as per Sensex 0.0094931465

CAPM returns as per NIFTY 50 0.0098647754
Returns on Raymond Returns on RBL Bank Returns on Titan Company Returns on Emami

0.0153277932 0 0.093206951 0.0154588313

0.0962168061 0 0.0518166804 -0.0604621032
0.0287041646 0 0.2198233562 0.092967134
0.0946774194 0 0.0975060338 -0.0240773841
0.1974362752 0 0.0642134584 0.0934065934
0.0387596899 0 0.0833448133 0.0663119519
0.0752191424 0 -0.0588758901 0.2073553872
-0.0352539385 0 0.1634914201 0.0675034441
0.0599520384 0 -0.0233422367 0.1616002294
0.0537599655 0 -0.0896551724 -0.0462905814
0.0275023004 0 -0.0138453501 0.0209034429
0.0137313433 0 -0.1421192053 0.165451664
-0.0112877896 0 0.0429211055 0.0522164808
-0.1169462921 0 0.0324204293 0.0394934091
0.0020236088 0 0.0954975624 -0.0784225968
-0.0292830697 0 -0.047382199 0.2061299374
0.076629681 0 -0.1306677659 0.0378042233
0.0076221149 0 0.1234392287 0.1297150494
-0.1616236949 0 0.0106921778 -0.0894451652
0.0855254797 0 0.1666202673 -0.0337775543
-0.0136970265 0 -0.0021477151 -0.0713913949
-0.016379822 0 -0.086810953 -0.1319943951
0.0347532279 0 -0.1566059971 0.074203616
-0.0433819242 0 0.126533147 0.0083654761
-0.0262099232 0 0.2035556781 -0.0228017884
0.0172759139 0 0.0792396656 -0.0536322505
0.0351956682 0 0.0073209549 0.0789106145
0.1028292915 0 0.1443016642 0.0190689569
0.0031260106 0 0.1351251841 0.0748974008
-0.0139694821 0 0.028705806 0.0347711468
-0.0994986922 0 0.2912659625 0.0085654046
0.291056517 -0.0265619779 0.0610463342 0.0268280998
0.1584176978 0.3423717179 -0.0611012025 0.0198922679
-0.1765657873 -0.0686525185 0.2023408297 -0.0790152208
-0.0327240566 -0.0794783802 -0.0812394883 -0.1367289804
0.009651529 0.1404712198 0.0100959672 0.0829061617
0.2622258 0.2570606695 -0.0216925696 0.0058445636
0.0096460459 0.0280840441 -0.0523745369 0.0131578947
0.1807343071 0.142553622 0.0967359754 0.0028438715
-0.0700147118 -0.068449482 -0.7164848223 0.0243406749
0.0401236787 -0.0396387833 0.3436845113 -0.0100124579
0.0972001383 0.058497476 0.155962002 0.0305275913
-0.0214227207 0.0185150552 -0.0647614375 -0.0197639184
 0.0477754169 -0.0709695189 0.0281967213 0.0100581342
0.0969089904 0.036466054 -0.0659438776 0.1464918692
0.0828571429 -0.0130625477 -0.131093814 0.0384079047
0.0926586994 -0.0160370979 0.0897375452 0.0070981852
-0.0064867424 -0.0087383407 -0.0227862706 -0.1432871076
-0.0895963399 -0.0309033281 0.1945100354 -0.0386890203
-0.0592577082 -0.0251430908 -0.0223622436 -0.0118887912
0.2359356741 0.1133361292 -0.1766713004 0.0511235955
-0.1150781144 -0.0265561729 0.4039907905 -0.0669428113
-0.0672602391 0.0691690045 0.144856237 -0.4960141296
-0.0854742814 0.0395403547 0.1128724217 0.1200037886
0.004711917 0.0908695274 0.4690235112 -0.0427906977
-0.2083110715 -0.1826378361 0.0995327103 -0.1282798834
0.1273995201 0.0212807497 -0.0662452189 -0.1991486774
0.0788826072 0.0538138023 -0.0834613415 0.1087066565
0.0389001911 0.0453514739 0.1545003104 -0.0453144618

0.0240954302 0.013568675 0.042550116 0.0053078014

0.0097799142 0.0053519091 0.0278932693 0.0116078033
0.0015684527 0.0007657795 -0.0011760405 0.0013741104
0.0015869145 0.0007920655 -0.0010479913 0.0014592651

1.0180385703 0.4970459368 -0.7633348066 0.8918964498

1.0155506238 0.5068846743 -0.6706651266 0.9338610106

0.0104761771 0.0072472145 -0.0005642631 0.0096943845

0.0104607575 0.0073081922 0.000010077 0.0099544688
Returns on SSWL Returns on IndusInd Bank Returns on BSE S&P Sensex Returns on NIFTY 50

0.0280412371 0.0355653986 0.0295541792 0.0307824945

0.1604492579 0.2610391244 0.0599499435 0.0680664973
0.0618734877 -0.0442936951 0.0014084526 -0.0011634498
0.072265625 0.1145093946 0.0802728189 0.07967714
0.6879174256 0.0698698136 0.0494042698 0.0527527853
0.0473021583 -0.0189092182 0.018934216 0.014445532
-0.0463678516 0.0416703846 0.0286982375 0.0301827412
0.0145867099 0.0607332534 -0.0002853055 0.0013137466
0.0679801207 0.1610272147 0.0463873955 0.0448724387
0.1949476483 0.0454893232 0.0297195526 0.0319687102
-0.0442280946 0.0678597565 -0.041631366 -0.0355776788
0.0375436554 0.0852906361 0.0612205639 0.0635300083
-0.0586255259 0.0516073479 0.0061182985 0.0105518283
-0.1603098927 -0.0365194607 -0.0478180611 -0.0461533277
0.0145493258 -0.0663456091 -0.0338435246 -0.0364503592
0.0580622595 0.0615935433 0.0302514021 0.0308195319
-0.0889256198 -0.0030296102 -0.0017108397 -0.0077250064
0.3062409289 0.1210366378 0.01201296 0.0196391229
-0.0641666667 -0.1234656301 -0.0651431145 -0.0658103682
0.0011872959 0.0996032209 -0.0048799437 -0.0028100812
0.0492143492 -0.0330061024 0.0191933956 0.0147064374
0.0658378073 0.0245294408 -0.0191755734 -0.0161856232
0.1739130435 0.0377611141 -0.0010758952 0.0013988217
-0.1978319783 -0.0432 -0.0477399479 -0.0481730606
-0.1692004505 -0.1036249865 -0.0751362347 -0.0762208222
0.1470687902 0.1645904796 0.1017241979 0.1075346534
0.2431314623 0.0843323687 0.0104475362 0.0143957407
-0.0859077947 0.0518490278 0.0414478756 0.0395296695
0.1879630833 0.0063881841 0.0124403966 0.0156431906
0.1083269504 0.0606401657 0.0389685523 0.0423214986
0.1319972357 0.005942275 0.014270355 0.0170978758
0.0139542997 0.0095780591 -0.0206033494 -0.0199232888
0.1656631688 -0.0013791951 0.0023056805 0.0016896698
-0.1943624557 -0.0881392818 -0.0457354241 -0.0465121671
0.1315259205 0.0165687534 -0.0009886387 -0.0047054532
0.1053909665 0.1310217166 0.0386645465 0.04587212
0.055506737 0.0489800806 0.039317384 0.0371789331
0.1486055224 0.0727224294 0.0305176994 0.0331264922
0.0940444552 0.0251871297 0.0100572239 0.01420357
-0.0645392812 0.0239454652 0.0410249211 0.0340926801
0.0350566572 0.0002703525 -0.0071980813 -0.0104300377
0.0053597902 0.1093280178 0.0515280414 0.058418847
-0.0245009074 0.0090452261 -0.0241258326 -0.0157981959
 0.0012209302 0.0135518532 -0.0140801481 -0.013037034
-0.014401022 -0.0309996724 0.0616745707 0.0558506834
0.1234313321 0.0212354026 -0.0019203249 -0.0105221909
0.1860184602 -0.0068008787 0.0273754991 0.0297412128
-0.0569091311 0.0629601576 0.0560295835 0.0471953431
-0.046324081 -0.042356697 -0.0495197834 -0.048500594
0.0428220256 0.0689049618 -0.0355534337 -0.0361341294
0.3119136297 0.0571396748 0.0664776388 0.0618616332
-0.0379128185 0.0262353809 0.0046080302 -0.0002979696
-0.0837068579 -0.0044661191 0.002862208 -0.0020351802
-0.0002445885 0.0284123137 0.0616286147 0.0599385867
-0.0422833843 -0.045402126 0.0276145823 0.0285299168
-0.0856607629 -0.1138745174 -0.0625676186 -0.0642138607
-0.1119389085 -0.1556563232 -0.0492749359 -0.0497554995
0.0379614094 0.1453894486 0.0508753108 0.047190611
-0.0578399677 -0.0199197083 -0.0034803823 -0.001305537

0.043774358 0.0271528084 0.0103643792 0.0106216923

0.0200957324 0.0055837823 0.0015406614 0.0015626149
0.0025698597 0.0020360673 0.0015406614 0.0015433362
0.0027275055 0.002150058 0.0015433362 0.0015626149

1.6680237047 1.3215540792 1 1.0017361388

1.7454751563 1.3759359697 0.9876625329 1

0.0145045982 0.012357279 0.0103643792 0.0103751393

0.01498462 0.0126943223 0.0102879152 0.0103643792
 Dates Apollo Tyres Close Price Raymond Close Price RBL Bank Close Price
31-Mar-14 159.3 301.35
30-Jun-14 199 406.35
30-Sep-14 203.05 437.85
31-Dec-14 223.1 502.5
31-Mar-15 168.25 444.75
30-Jun-15 169.7 465.75
30-Sep-15 179.9 427.1
31-Dec-15 156.15 428.75
31-Mar-16 175 406.3
30-Jun-16 151.5 465.3
30-Sep-16 220.2 533.4 291.35
30-Dec-16 184.95 492.15 335.3
31-Mar-17 208.65 633.25 494.2
30-Jun-17 241 723.25 505.15
29-Sep-17 244.95 813.65 505.95
29-Dec-17 268.8 1056 509.25
28-Mar-18 275.4 898.55 476.9
29-Jun-18 255.15 916.65 552.6
28-Sep-18 212.35 666.8 512.2
31-Dec-18 235.9 842.6 576.25
Titan Company Close Price Emami Close Price SSWL Close Price IndusInd Bank Close Price
262.45 435.1 144.65 501.2
352.65 507.45 278 571.15
407.65 697.4 281.7 619.15
381.25 788.75 343.6 802.55
392 1005.45 281.8 882.5
366.15 1159.85 275.6 872.05
318.15 1152.8 337.3 942.25
346.7 998.15 442.8 968.75
338.8 930.8 338.5 967.6
404.7 1100.05 456.95 1110.65
395.65 1178.85 581.3 1196.35
325.75 955.9 617.7 1107.45
457.35 1054.9 827.8 1409.45
523.6 1072.8 876.9 1479.95
582.7 1094.6 861.05 1679.05
856 1312.4 1130.75 1650.25
941.2 1068 1060.55 1795.6
878.85 527.9 1226.55 1939.3
805.5 493.35 1073.8 1687.05
929.95 418.2 932.55 1599.05
BSE S&P Sensex NIFTY 50 Returns on Apollo Tyres
22386.27 6704.2
25413.78 7611.35 0.249215317
26630.51 7964.8 0.0203517588
27499.42 8282.7 0.0987441517
27957.49 8491 -0.2458538772
27780.83 8368.5 0.0086181278
26154.83 7948.9 0.0601060695
26117.54 7946.35 -0.1320177877
25341.86 7738.4 0.120717259
26999.72 8287.75 -0.1342857143
27865.96 8611.15 0.4534653465
26626.46 8185.8 -0.1600817439
29620.5 9173.75 0.1281427413
30921.61 9520.9 0.1550443326
31283.72 9788.6 0.0163900415
34056.83 10530.7 0.0973668096
32968.68 10113.7 0.0245535714
35423.48 10714.3 -0.0735294118
36227.14 10930.45 -0.167744464
36068.33 10862.55 0.110901813

rf (quarterly) 0.0125
Average Return 0.0331633864
variance of Returns 0.0274140955
Covariance with Sensex 0.0023554104
Covariance with Nifty 50 0.0025002116

Beta ei as per Sensex 0.8530581975

Beta ei as per Nifty 50 0.9119593188

CAPM returns as per Sensex 0.0245994293

CAPM returns as per NIFTY 50 0.0254348588
Returns on Raymond Returns on RBL Bank Returns on Titan Company Returns on Emami

0.3484320557 0 0.3436845113 0.166283613

0.0775193798 0 0.155962002 0.3743225934
0.1476533059 0 -0.0647614375 0.1309865214
-0.1149253731 0 0.0281967213 0.2747385103
0.0472175379 0 -0.0659438776 0.1535630812
-0.0829844337 0 -0.131093814 -0.0060783722
0.0038632639 0 0.0897375452 -0.1341516308
-0.052361516 0 -0.0227862706 -0.0674748284
0.1452128969 0 0.1945100354 0.181832832
0.1463571889 0 -0.0223622436 0.0716331076
-0.0773340832 0.1508494937 -0.1766713004 -0.1891249947
0.286701209 0.4739039666 0.4039907905 0.1035673188
0.1421239637 0.0221570214 0.144856237 0.016968433
0.1249913585 0.001583688 0.1128724217 0.0203206562
0.2978553432 0.0065223836 0.4690235112 0.1989767952
-0.1491003788 -0.0635247914 0.0995327103 -0.1862237123
0.0201435646 0.1587334871 -0.0662452189 -0.5057116105
-0.2725685922 -0.0731089396 -0.0834613415 -0.0654480015
0.2636472705 0.1250488091 0.1545003104 -0.1523259349

0.0685496822 0.0422192168 0.082291647 0.0203502303

0.0281488537 0.0146790878 0.0322480863 0.0411998681
0.0059999184 0.0021325547 0.0068383959 0.0033819333
0.0060744706 0.0021761931 0.0067720354 0.0040166048

2.1729884816 0.7723466384 2.4766595964 1.2248336799

2.2156804525 0.7937726389 2.4701192018 1.4650680407

0.0433207818 0.0234546495 0.047627929 0.0298725411

0.0439263073 0.0237585472 0.0475351627 0.0332799272
Returns on SSWL Returns on IndusInd Bank Returns on BSE S&P Sensex Returns on NIFTY 50

0.921880401 0.1395650439 0.1352395911 0.1353107008

0.0133093525 0.08404097 0.0478767818 0.0464372286
0.2197373092 0.2962125495 0.032628365 0.0399131177
-0.1798603027 0.0996199614 0.0166574422 0.0251488041
-0.0220014194 -0.0118413598 -0.0063188791 -0.0144270404
0.2238751814 0.0804999713 -0.0585295688 -0.0501404075
0.3127779425 0.0281241709 -0.0014257405 -0.0003207991
-0.2355465221 -0.0011870968 -0.0296995812 -0.0261692475
0.3499261448 0.1478400165 0.0654198232 0.0709901272
0.27213043 0.0771620222 0.0320832957 0.0390214473
0.0626182694 -0.0743093576 -0.0444807931 -0.0493952608
0.3401327505 0.2726985417 0.1124460405 0.1206907083
0.0593138439 0.0500195112 0.0439259972 0.0378416678
-0.0180750371 0.134531572 0.0117105804 0.0281170898
0.3132222287 -0.0171525565 0.0886438697 0.0758126801
-0.0620826885 0.088077564 -0.0319510066 -0.0395985072
0.156522559 0.0800289597 0.0744585467 0.0593847949
-0.124536301 -0.1300727066 0.022687212 0.0201739731
-0.1315421866 -0.052162058 -0.00438373 -0.0062120041

0.1300948398 0.0679839852 0.0266835919 0.0269778459

0.0717920187 0.0114555292 0.0027611368 0.0027415824
0.0092081638 0.0024391622 0.0027611368 0.0027176681
0.0092797941 0.0028807459 0.0027176681 0.0027415824

3.3349176496 0.8833905679 1 0.9842569652

3.3848313566 1.0507602648 0.9912771893 1

0.059801111 0.0250296513 0.0266835919 0.0264602991

0.0605090666 0.0274035548 0.0265598711 0.0266835919
 Dates Apollo Tyres Close Price Raymond Close Price RBL Bank Close Price
31-Dec-14 223.1 502.5
31-Dec-15 156.15 428.75
30-Dec-16 184.95 492.15 335.3
29-Dec-17 268.8 1056 509.25
31-Dec-18 235.9 842.6 576.25
Titan Company Close Price Emami Close Price SSWL Close Price
381.25 788.75 343.6
346.7 998.15 442.8
325.75 955.9 617.7
856 1312.4 1130.75
929.95 418.2 932.55
IndusInd Bank Close Price BSE S&P Sensex NIFTY 50
802.55 27499.42 8282.7
968.75 26117.54 7946.35
1107.45 26626.46 8185.8
1650.25 34056.83 10530.7
1599.05 36068.33 10862.55

rf (Annual)
Average Return
variance of Returns
Covariance with Sensex
Covariance with Nifty 50

Beta ei as per Sensex

Beta ei as per Nifty 50

CAPM returns as per Sensex

CAPM returns as per NIFTY 50
Returns on Apollo Tyres Returns on Raymond Returns on RBL Bank Returns on Titan Company

-0.3000896459 -0.1467661692 0 -0.0906229508

0.1844380403 0.1478717201 0 -0.060426882
0.4533657745 1.1456872905 0.5187891441 1.6277820414
-0.1223958333 -0.2020833333 0.1315660285 0.0863901869

0.05
0.0538295839 0.236177377 0.1625887931 0.3907805989
0.1110006518 0.3912414605 0.0602371111 0.6860545534
0.0404719654 0.0818150575 0.0341903205 0.1142059816
0.0424018283 0.086538967 0.0342541806 0.1169038179

2.0018947003 4.0468785826 1.6911810608 5.6490547717

2.0526743637 4.1893551814 1.6582463837 5.6593189437

0.1037294442 0.1586153718 0.0953901089 0.2016166526

0.1050923346 0.1624393434 0.0945061654 0.2018921357
Returns on Emami Returns on SSWL Returns on IndusInd Bank

0.2654833597 0.2887077998 0.2070899009

-0.0423283074 0.3949864499 0.1431741935
0.372946961 0.8305811883 0.4901349948
-0.6813471503 -0.1752818925 -0.0310256022

-0.0213112842 0.3347483863 0.2023433718

0.2245932638 0.1705764709 0.0469362058
0.0187388376 0.0372434525 0.0217120221
0.0266199556 0.0432161456 0.0243702848

0.9268929583 1.8422003839 1.0739577751

1.2886732188 2.0920954996 1.1797665526

0.0748771544 0.0994433612 0.0788242705

0.0845870818 0.1061503702 0.0816641036
Returns on BSE S&P Sensex Returns on NIFTY 50

-0.0502512417 -0.0406087387
0.0194857555 0.0301333317
0.2790596272 0.2864594786
0.0590630426 0.031512625

0.0768392959 0.0768741741
0.0202168303 0.0206568704
0.0202168303 0.0202668291
0.0202668291 0.0206568704

1 1.0024731299
0.9811180864 1

0.0768392959 0.076905673
0.0763325186 0.0768392959
 rf (Annual)
Average Return
variance of Returns
Covariance with Sensex
Covariance with Nifty 50

Kei Beta ei as per Sensex

Kei Beta ei as per Nifty 50

CAPM returns as per Sensex

CAPM returns as per NIFTY 50

D/E
Tax Rate
Asset Beta
Kei based on asset beta
Beta unleverled
Revised D/E (50% debt and 50% Equity)
Beta relevered
Cost of Equity Kei based on relevered beta
Cost of Debt
D/V
E/V
WACC
Returns on Apollo Tyres Returns on Raymond Returns on RBL Bank Returns on Titan Company
0.05
0.0538295839 0.236177377 0.1625887931 0.3907805989
0.1110006518 0.3912414605 0.0602371111 0.6860545534
0.0404719654 0.0818150575 0.0341903205 0.1142059816
0.0424018283 0.086538967 0.0342541806 0.1169038179

2.0018947003 4.0468785826 1.6911810608 5.6490547717

2.0526743637 4.1893551814 1.6582463837 5.6593189437

0.1037294442 0.1586153718 0.0953901089 0.2016166526

0.1050923346 0.1624393434 0.0945061654 0.2018921357

0.4944281366 1.1386742216 1.5703244872 0.3165078293

0.2345256151 0.2634722088 0.2530655227 0.290379122
2.0018947003 4.0468785826 1.6911810608 5.6490547717
0.1037294442 0.1586153718 0.0953901089 0.2016166526
1.4522562614 2.2009871955 0.7782954121 4.6129774385
1 1 1 1
2.5639212299 3.8220754331 1.359631089 7.8864425388
0.1188138406 0.2936855852 0.1044730956 0.6059886919
0.0364768595 0.112120723 0.3178353122 0.0273467794
0.3308477166 0.5324206044 0.6109440637 0.2404146958
0.6691522834 0.4675793956 0.3890559363 0.7595853042
0.0887425163 0.1812886371 0.185685314 0.4649655553
Returns on Emami Returns on SSWL Returns on IndusInd Bank

-0.0213112842 0.3347483863 0.2023433718

0.2245932638 0.1705764709 0.0469362058
0.0187388376 0.0372434525 0.0217120221
0.0266199556 0.0432161456 0.0243702848

0.9268929583 1.8422003839 1.0739577751

1.2886732188 2.0920954996 1.1797665526

0.0748771544 0.0994433612 0.0788242705

0.0845870818 0.1061503702 0.0816641036

0.0680712749 1.280311163 1.7740020173

0.2500740554 0.2436400673 0.3372051305
0.9268929583 1.8422003839 1.0739577751
0.0748771544 0.0994433612 0.0788242705
0.8818746549 0.93589859 0.4935922667
1 1 1
1.5432153385 1.6437747846 0.8207426886
0.11857958 0.1263064971 0.0630652903
0.1514642628 0.1060349633 0.283487925
0.0637328954 0.5614633581 0.6395099954
0.9362671046 0.4385366419 0.3604900046
0.1182613872 0.100419724 0.1428947168
Returns on BSE S&P Sensex Returns on NIFTY 50 2018-2019
Short term Borrowings
0.0768392959 0.0768741741 Long term Borrowing
0.0202168303 0.0206568704 Other Current Liabilities
0.0202168303 0.0202668291 Debt
0.0202668291 0.0206568704 Equity
Finance Cost
1 1.0024731299 Total value
0.9811180864 1 PBT
Tax
0.0768392959 0.076905673
0.0763325186 0.0768392959
 Apollo Raymond RBL Bank Titan Company Emami SSWL IndusInd Bank
41,663.26 12841.784 0.8 1098.693 3928.839
3,743.50 1894.65 118320.654 316.7 68.956 4581.134 473211.224
4,232.93 849.864 18895 245.417 217.752
49,639.69 15586.298 118320.654 19212.5 1413.066 8727.725 473211.224
100,398.19 13688.11 75347.901 60701.5 20758.62 6816.878 266747.85
1,810.70 1747.547 37606.482 525.4 214.029 925.444 134149.668
150,037.88 29,274.41 193,668.56 79,914.00 22,171.69 15,544.60 739,959.07
8,881.29 942.403 12978.374 19568.9 4034.141 1088.848 49805.725
2,082.89 248.297 3284.379 5682.4 1008.834 265.287 16794.746
 Particulars 2018 2019

Assumptions
CAGR
COGS %of Sales 72.16089323 72.11020637
Employee benefits expense % of sales 5.448386285 5.106189627
Finance Costs as % of Sales 0.325765583 0.2632072
Depreciation as % of sales 0.809058401 0.815771993
Other Expenses as % of sales 11.7193122 11.89046292
Tax Rate 30% 30%
Capital expenditure as a % of sales 0.4021%

1 Revenue from operations 161559.5 197785.2

2 Other Income 888.60 1,829.40
3 Total income 162,448.10 199,614.60
4 Expenses
COGS 117,224.00 143,942.50
Employee benefit expenses 8,850.80 10,192.70
Finance costs 529.20 525.40
Depreciation and amortisation expense 1,314.30 1628.4
Other expenses 19,037.80 23,735.10
4 Total Expenses 146,956.10 180,024.10
Profit before Tax
5 15,492.00 19,590.50

10 Tax expense:
Total Tax 4278.7 5682.4
11 Profit of the year(9-10) 11,213.30 13,908.10
Total fixed assets 11020.4 11823.1
CAPEX 802.7
Free Cash Flow 14,733.80
 2020 2021 2022 2023 2024

12.50% 12.50% 12.50% 12.50% 12.50%

72.11020637 72.11020637 72.11020637 72.11020637 72.11020637
5.106189627 5.106189627 5.106189627 5.106189627 5.106189627
0.2632072 0.2632072 0.2632072 0.2632072 0.2632072
0.815771993 0.815771993 0.815771993 0.815771993 0.815771993
11.89046292 11.89046292 11.89046292 11.89046292 11.89046292
30% 30% 30% 30% 30%
0.4021% 0.4021% 0.4021% 0.4021% 0.4021%

222508.35 222786.4854 223064.9685 223343.7998 223622.9795

2058.075 2315.334375 2604.751172 2930.345068 3296.638202
224,566.43 225,101.82 225,669.72 226,274.14 226,919.62

161935.3125 162321.3868 162730.9006 163166.7528 163632.2046

11,466.79 11,494.13 11,523.12 11,553.99 11,586.95
591.075 592.4841977 593.9789511 595.5698415 597.2687726
1,831.95 1,836.32 1,840.95 1,845.88 1,851.15
26701.9875 26765.64842 26833.17435 26905.04329 26981.79301
202,527.11 203,009.96 203,522.13 204,067.23 204,649.36

22,039.31 22,091.86 22,147.59 22,206.91 22,270.26

6611.79375 6627.557104 6644.277489 6662.073266 6681.077593

15,427.52 15,464.30 15,503.31 15,544.84 15,589.18

903.0375 905.1904558 907.4741227 909.9046665 912.5002737

16,356.43 16,395.43 16,436.79 16,480.81 16,527.83
 Particulars 2018 2019 2020 2021
ASSETS
1 Non-current Assets
PPE 11020.4 11823.1
Capital WIP 430.1 289.5
Investment property 226.8 240.2
Goodwill 1230.1 1230.1
Other intangible asstes 2260.8 2372.9
Intangible assets under development 3.6 28.2
Financial Assets
Investments 343.8 392
Loans Recevieble 1159 1291.3
Other fianacial assets 91.5 81.2
Deferred tax net 360.6 741.8
Income tax asset 1021.9 1217.1
Other non-current assets 1083.4 1572.1
19232 21279.5
2 Current Assets
Inventories 59248.4 70388.2
Financial Assets
Investments 16.1 692.2
Trade Recievebles 2956.9 4204.5
Cash & Cash equivalents 4720.5 4295.3
Bank balance 1458.6 6369.5
Loans Recevieble 2663.2 2466
Other financial Assets 733.4 989.8
Other current assets 76010.1 95873
Total Assets 167039.2 206558

Equity & Liabilities

Equity
Equity share capital 887.8 887.8
Other Equity 50011 59813.7
Equity attributable to the equity holders of the
Company 50898.8 60701.5
Non controlling interest -182 140.8
101615.6 121543.8
Liabilities
1 Non current Liablities
Financial liabilities
Borrowings 0 316.7
Other financial liabilities 12.6 13.3
Provisions 1163.4 1306.8
Deferred tax liability 1207.7 1690.9
2383.7 3327.7
2 Current Liabilities
Borrowings 789.9 0.8
Gold on loan 16120.2 23529
Total outstanding dues of micro and small
enterprises 2 157.3
Total outstanding dues of creditors other than
micro and small enterprises 8775.4 8902.5
Other financial liabilities 2546.2 2384.3
Other current liabilities 14452.9 18895
Provisions 247.3 653.4
Current tax liabilities 219.9 97
43153.8 54619.3
Total Equity & Liabilities 147153.1 179490.8
2022 2023 2024
Perpetuity Growth Method
WACC 0.4649655553 r
Terminal Growth Rate 0.05 g
Perpetuity Multiple (factor) 2.5303304974 CF0*(1+g)/(r-g)

Amount (in lakhs)

Years into the future 1 2 3 4
FCF 16,356.43 16,395.43 16,436.79 16,480.81
NPV 11165.061998 7639.552261 5227.990336029 3578.2362018413
NPV of 5-years FCF 30060.347898
Terminal Value of FCF 41820.865885
PV of TV (Discounted 5 Years) 6198.0625204

Enterprise Value 36258.410418

 5
16,527.83
2449.507101