Balance Sheet

2015 2016 2017 2018 2019

EQUITY AND LIABILITIES
Share Capital 914.90 914.90 915.00 967.90 967.90
Share Warrants & Outstandings 235.20 166.40 171.80 219.80 547.70
Total Reserves 209270.60 323279.70 299418.50 302658.40 322760.80
Shareholder's Funds 210420.70 324361.00 300505.30 303846.10 324276.40
Minority Interest 8572.50 8998.30 6467.10 4403.40 -3010.70
Long-Term Borrowings
Secured Loans 287535.50 303950.20 298266.90 322200.80 296844.70
Unsecured Loans 68603.90 59588.80 27716.50 7358.30 2557.50
Deferred Tax Assets / Liabilities 20184.70 58723.70 53586.30 50283.60 53643.00
Other Long Term Liabilities 2139.00 937.00 6734.80 6880.90 4095.30
Long Term Trade Payables 908.80 18.90 265.00
Long Term Provisions 1593.20 1957.30 3072.10 2781.60 3146.90
Total Non-Current Liabilities 380056.30 425157.00 390285.40 389524.10 360552.40
Current Liabilities
Trade Payables 20532.90 23177.40 29148.50 41899.10 52207.60
Other Current Liabilities 65711.40 63862.70 105116.90 89587.10 112351.00
Short Term Borrowings 68523.40 77779.50 73601.00 62429.40 48258.90
Short Term Provisions 1548.90 36098.10 36085.20 35178.20 35181.60
Total Current Liabilities 156316.60 200917.70 243951.60 229093.80 247999.10
Total Liabilities 755366.10 959434.00 941209.40 926867.40 929817.20
ASSETS
Non-Current Assets
Gross Block 617719.50 735956.70 788464.70 852417.50 917077.80
Less: Accumulated Depreciation 151286.00 85571.20 129462.80 167975.30 208041.90
Less: Impairment of Assets 12865.70
Net Block 466433.50 650385.50 659001.90 684442.20 696170.20
Lease Adjustment A/c
Capital Work in Progress 60941.50 107027.00 87139.80 38769.70 29055.10
Intangible assets under development 16722.40 11241.00 10021.90 11005.30 11216.90
Pre-operative Expenses pending 13015.80
Assets in transit
Non Current Investments 3527.90 3917.70 3995.50 1515.00 1508.70
Long Term Loans & Advances 34699.50 23425.70 14659.60 12063.60 12149.20
Other Non Current Assets 469.70 669.00 709.50 1378.40 2638.90
Total Non-Current Assets 595810.30 796665.90 775528.20 749174.20 752739.00
Current Assets Loans & Advances
Currents Investments 14324.00 0.30 3.80 2.10 49.60
Inventories 48486.90 32541.00 35992.60 49595.60 65095.30
Sundry Debtors 16907.00 14291.80 17166.20 18260.90 30291.90
Cash and Bank 11390.70 6203.80 4772.20 4678.80 4216.20
Other Current Assets 9841.30 23175.20 11882.00 47378.20 26882.40
Short Term Loans and Advances 58605.90 86556.00 95864.40 57777.60 50542.80
Amt Due from firm (directors interested)
Total Current Assets 159555.80 162768.10 165681.20 177693.20 177078.20
Net Current Assets (Including Current 3239.20 -38149.60 -78270.40 -51400.60 -70920.90
Total Current Assets Excluding Current 145231.80 162767.80 165677.40 177691.10 177028.60
Miscellaneous Expenses not written of
Total Assets 755366.10 959434.00 941209.40 926867.40 929817.20
 Income Statement

2015 2016 2017 2018 2019

Gross Sales 268813.70 268122.20 293229.50 338926.30 470952.40 Profit
Less: Inter divisional transfers 62608.70 64440.90 66267.10 59671.40 75936.00 CFO
Less: Sales Returns 841.70 1295.00 CFF
Less: Excise / GST 12613.80 19969.00 16457.30 4578.90 CFI
Net Sales 193591.20 183712.30 210505.10 273834.30 393721.40 Opening
EXPENDITURE : Closing
Increase/Decrease in Stock -1571.80 4481.90 2826.20 -2418.50 -2259.70
Raw Material Consumed 56308.30 60968.50 68008.50 97025.70 164608.30
Power & Fuel Cost 24927.20 43683.10 43491.60 56403.10 67042.60
Employee Cost 10903.40 9465.70 9135.50 9556.60 10718.50
Other Manufacturing Expenses 25560.10 16974.80 22643.70 26495.90 47477.10
General and Administration Expenses 2018.90 1497.10 1373.20 2798.20 3825.70
Selling and Distribution Expenses 8835.90 5550.20 9558.50 10992.50 9984.60
Miscellaneous Expenses 12205.50 6722.30 6376.10 8289.70 8787.60
Less: Expenses Capitalised
Total Expenditure 139187.50 149343.60 163413.30 209143.20 310184.70
Operating Profit (Excl OI) 54403.70 34368.70 47091.80 64691.10 83536.70
Other Income 5362.90 4088.10 3112.50 1967.70 1715.50
Operating Profit 59766.60 38456.80 50204.30 66658.80 85252.20
Interest 28749.40 35056.80 37420.00 40595.40 43681.60
PBDT 31017.20 3400.00 12784.30 26063.40 41570.60
Depreciation 27328.30 40678.80 39490.20 38830.30 54803.50
Profit Before Taxation & Exceptional Items 3688.90 -37278.80 -26705.90 -12766.90 -13232.90
Exceptional Income / Expenses -19116.40 -2358.30 -3723.10 -5873.60 -14784.00
Profit Before Tax -15427.50 -39637.10 -30429.00 -18640.50 -28016.90
Provision for Tax -881.60 -8774.60 -5026.80 -2398.10 -3901.70
Profit After Tax -14545.90 -30862.50 -25402.20 -16242.40 -24115.20
 CFS Condensed

2015 2016 2017 2018 2019 2015

-15427.50 -39637.70 -30429.00 -18640.50 -28016.90
11824.80 43327.80 68498.30 77242.80 90269.00 Equity 210420.70
-67174.30 -22615.90 -19991.40 -14312.10 -8320.70 NCL 380056.30
57079.30 -26719.10 -51077.40 -62756.40 -82613.90 CL 156316.60
9402.60 11031.80 5024.60 2461.00 2635.20
11132.40 5024.60 2461.00 2635.30 1969.60 NCA 595810.30
CA 159555.80
TA 755366.10

Capital Employed 599,049.50

COGS 105223.80
OPEX 10854.80
Condensed BS Condensed IS

2016 2017 2018 2019 2015 2016

Sales 193591.20 183712.30
324361.00 300505.30 303846.10 324276.40 Other Incomes 5362.90 4088.10
425157.00 390285.40 389524.10 360552.40 Total 198954.10 187800.40
200917.70 243951.60 229093.80 247999.10 Gross Profit 93730.30 61692.10
PBDITA 59766.60 38456.80
796665.90 775528.20 749174.20 752739.00 PBIT 32438.30 -2222.00
162768.10 165681.20 177693.20 177078.20 PBT -15427.50 -39637.10
959434.00 941209.40 926867.40 929817.20 PAT -14545.90 -30862.50

758,516.30 697,257.80 697,773.60 681,818.10

126108.30 136970.00 177506.20 276868.30
7047.30 10931.70 13790.70 13810.30
Condensed IS

2017 2018 2019

210505.10 273834.30 393721.40
3112.50 1967.70 1715.50
213617.60 275802.00 395436.90
76647.60 98295.80 118568.60
50204.30 66658.80 85252.20
10714.10 27828.50 30448.70
-30429.00 -18640.50 -28016.90
-25402.20 -16242.40 -24115.20
 Data to be collected from Prowess
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Balance Sheet
Total Current Assets
Stock
Debtors
Cash
Others
Total Current Liabilities
Creditors
STL
Others
Debt (Borrowings)
Capital
Reserves

Equity
Others
Income Statement
Sales
Total Expenses
PBIT
PAT
COGS
OPEX
Dep
Amortisation
Interest
Other exppenses
Dividend
no of sharess

CFS

CFO
CFF
CFI
Market
Market Capitalisation

Price
 Name of the company

Profitability 2015 2016 2017

ROCE 0.0541496153 -0.002929403 0.0153660526
ROE -0.069127705 -0.095148615 -0.084531621
EPS -3.4 -15.5 -10.78
Dupont Ratios
ROE =PAT/Equity -0.069127705 -0.095148615 -0.084531621
PAT/Sales -0.075137196 -0.167993651 -0.120672611
Sales/TA 0.2562879113 0.1914798725 0.2236538437
TA/Equity 3.5897898828 2.9579203418 3.1320891845
Analysis of PAT/Sales
Tax Burden = PAT/PBT 0.9428552909 0.7786265897 0.8348023267
Interest Burden = PBT/PBIT -0.475595207 17.838478848 -2.840089228
Opex Burden = PBIT/Sales 0.1675608189 -0.012094999 0.0508971042
Analysis of Opex Burden

COGS /Sales 0.5435360698 0.6864445113 0.6506730716

Operating Expenses/Sale; 0.0560707305 0.0383605235 0.0519308083
Depreciation/Sales 0.14 0.22 0.19
Other Expenses/Sales 0.1320313113 0.0923988214 0.1075684152
Analysis of investment Decisions
Sales/NCA 0.3249208683 0.2306014353 0.2714344881
Sales/CA 1.2133134615 1.1286750905 1.270543067
Sales/Cash 16.995549001 29.612866308 44.110703659
Sales/Debtors 11.45035784 12.854385032 12.262766366
Sales/Stock 3.992649561 5.6455640577 5.8485660941
Sales/Other CA 19.671303588 7.9271074252 17.716301969
Analysis of Financing Decisios
TA/Capital 825.62695377 1048.6763581 1028.644153
TA/Reserves 3.6095184895 2.9678139394 3.1434577356

Solvency
Debt/Equity 3.5897898828 2.9579203418 3.1320891845
CE/TA 0.7930584918 0.7905872629 0.7408104934
Debt/TA 1 1 1
Equity/TA 0.2785678362 0.3380753653 0.3192757106
Reserves/TA 0.2770452632 0.3369483466 0.318121026
PBIT/Interest 1.128312243 -0.063382853 0.2863201497

Liqudiity
Working Capital (CA-CL) 3239.20 -38149.60 -78270.40
Current Ratio= CA/CL 1.0207220474 0.8101232495 0.6791560293
Liquid Ratio = (CA-Stock)/CL 0.7105381002 0.6481614114 0.5316161075
Absolute Cash Ratio =Cash/CL 0.0728694201 0.0308773194 0.0195620771
Average Debtors/Sales 0.0873335152 0.0777944645 0.081547668
 Average Creditors/Purchases 0.0000000 0.0000000 0.0081507
Average Stock/ COGS 0.4607978423 0.2580401131 0.2627772505

Market Based Ratio

Price to Book Ratio 1.15 0.24 0.51
Price to Earnings Ratio -50 -3.846153846 -11.11111111
Earnings Yield -0.02 -0.26 -0.09
 2018 2019
0.0398818471 0.0446580987
-0.053456009 -0.074366189
-3.95 -2.72

-0.053456009 -0.074366189
-0.059314702 -0.061249401
0.2954406423 0.423439575
3.0504502115 2.8673600669

0.8713500174 0.8607376262
-0.669834882 -0.920134521
0.101625326 0.077335649

0.6482248571 0.7032086648
0.0503614777 0.0350763255
0.14 0.14
0.0967588794 0.1205855206

0.3655148562 0.5230516819
1.5410510926 2.2234323593
58.526609387 93.382998909
14.995662864 12.997580211
5.5213426191 6.0483844456
5.7797531354 14.646065827

957.60657093 960.65419981
3.0624208679 2.8808244372

3.0504502115 2.8673600669
0.7528300165 0.7332818752
1 1
0.3278204628 0.3487528516
0.3265390497 0.3471228538
0.685508703 0.6970600894

-51400.60 -70920.90
0.7756351329 0.7140275912
0.5591491345 0.4515455903
0.0204230756 0.0170008681
0.0666859484 0.0769373979
 0.0001232 0.0011440
0.2794020716 0.2351128677

0.93 0.77
-50 -50
-0.02 -0.02
 JSPL
Step-1:Retrieve the following data
2015 2016 2017 2018 2019
Working Capital (WC) 3,239.20 -38,149.60 -78,270.40 -51,400.60 -70,920.90
Total Assets (TA) 755,366.10 959,434.00 941,209.40 926,867.40 929,817.20
Retained earnings(Reserves) (RE) 209,270.60 323,279.70 299,418.50 302,658.40 322,760.80
EBIT 62,662.36 40,847.95 52,528.28 69,305.28 87,300.40
Sales 193,591.20 183,712.30 210,505.10 273,834.30 393,721.40
MV of equity (Market Cap or MV) 91.49 91.49 91.5 96.79 96.79

Step-II: Find the following ratios

2015 2016 2017 2018 2019
X1 =WC/TA 0.0043 -0.04 -0.08 -0.06 -0.08
X2 =RE/TA 0.2770 0.337 0.318 0.327 0.347
X3 =EBIT/TA 0.083 0.043 0.056 0.075 0.094
X4 =MV/TL 0.000121 0.000095 0.000097 0.000104 0.000104
X5 =Sales/TA 0.256 0.191 0.224 0.295 0.423

cash based analysis is more im

 § Z = 1.2 X1 + 1.4 X2 + 3.3 X3 + 0.6 X4 + 1.0 X5

Step III: Multiply ratio with the weight and fin

2015 2016
0.005 -0.048
0.388 0.472
0.274 0.140
0.00007 0.00006
0.256 0.191
Z SCORE 0.923 0.756

past in bankrptcy prediction, all ratios don’t need equal weightage

if n-ve, buz not generating profit in presenWeightif z score is less than 1.88, then may b c
future, if less than 1 it means if the busine 1.200 <1.88 sick
1.400 >3 safe
3.300 this weights are for listed company and non banking company
0.600 observe chages of z score in 5 yrs
1.000 whether market value is showing true fundamnetals

cash based analysis is more impt, not profit as profit is basedc on surreal things such as dep, ammortization.
thus most company usrs Cash Flow
.3 X3 + 0.6 X4 + 1.0 X5
o with the weight and find Z score
2017 2018 2019
-0.100 -0.067 -0.092
0.445 0.457 0.486
0.184 0.247 0.310
0.00006 0.00006 0.00006
0.224 0.295 0.423
0.753 0.933 1.128

banking company