APOLLO TYRES

STANDALONE PROFIT & LOSS ACCOUNT ------------------- in Rs. Cr. -------------------

Mar '17 Mar '16 Mar '15 Mar '14 Mar '13
Income
Sales Turnover 9,923.69 9,704.61 9,936.82 9,690.94 8,507.49
Excise Duty 989.92 1,002.97 999 979.2 0
Net Sales 8,933.77 8,701.64 8,937.82 8,711.74 8,507.49
Other Income 135.33 53.64 37.55 8.18 57.38
Stock Adjustments 318.15 -126.62 -19.73 115.87 7.37
Total Income 9,387.25 8,628.66 8,955.64 8,835.79 8,572.24
Expenditure
Raw Materials 5,610.57 4,930.21 5,710.52 6,028.47 6,172.51
Power & Fuel Cost 284.62 282.2 279.7 276.04 261
Employee Cost 590.73 566.49 545.13 486.67 426.85
Miscellaneous Expenses 1,438.72 1,235.38 1,067.27 937.5 756.31
Total Expenses 7,924.64 7,014.28 7,602.62 7,728.68 7,616.67

Mar '17 Mar '16 Mar '15 Mar '14 Mar '13
Operating Profit 1,327.28 1,560.74 1,315.47 1,098.93 898.19
PBDIT 1,462.61 1,614.38 1,353.02 1,107.11 955.57
Interest 88.78 88.33 172.09 244.61 260.97
PBDT 1,373.83 1,526.05 1,180.93 862.5 694.6
Depreciation 288.2 268.61 246.78 248.05 220.07
Profit Before Tax 1,085.63 1,257.44 934.15 614.45 474.53
PBT (Post Extra-ord Items) 1,085.63 1,257.44 934.15 614.45 474.53
Tax 282.88 404.99 289.06 171.83 161.99
Reported Net Profit 802.76 852.46 645.08 442.62 312.53
Total Value Addition 2,314.07 2,084.06 1,892.10 1,700.20 1,444.16
Equity Dividend 101.81 101.81 101.81 37.8 25.2
Corporate Dividend Tax 20.73 20.73 20.73 6.42 4.28
Per share data (annualized)
Shares in issue (lakhs) 5,090.25 5,090.25 5,090.25 5,040.25 5,040.25
Earnings Per Share (Rs) 15.77 16.75 12.67 8.78 6.2
Equity Dividend (%) 300 200 200 75 50
Book Value (Rs) 104.73 78.45 64.19 54.08 46.18
 BALANCE SHEET

SOURCES OF FUNDS MONEY IN CRORES

Mar'17 Mar'16 Mar'15 Mar'14 Mar'13
Total Share Capital 50.9 50.9 50.91 50.41 50.41
Equity Share Capital 50.9 50.9 50.91 50.41 50.41
Share Application Money 0 0 0 10.78 10.78
Reserves 5,280.29 3,942.38 3,216.65 2,675.51 2,277.12
Networth 5,331.19 3,993.28 3,267.56 2,736.70 2,338.31
Secured Loans 865.09 244.79 370.3 743.89 1,088.41
Unsecured Loans 752.94 341.51 426.3 150.51 789.37
Total Debt 1,618.03 586.3 796.6 894.4 1,877.78
Total Liabilities 6,949.22 4,579.58 4,064.16 3,631.10 4,216.09

APPLICATION OF FUNDS
Mar'17 Mar'16 Mar'15 Mar'14 Mar'13
Gross Block 7,191.27 5,153.74 4,899.98 4,776.72 4,358.47
Less: Revaluation Reserves 0 3.12 3.12 3.12 3.12
Less: Accum. Depreciation 2,396.10 2,052.43 1,792.93 1,523.14 1,287.12
Net Block 4,795.17 3,098.19 3,103.93 3,250.46 3,068.23
Capital Work in Progress 621.48 386.87 129.65 34.97 248.97
Investments 1,399.31 793.75 751.92 651.46 612.7
Inventories 1,729.40 1,022.90 1,185.19 1,283.69 1,120.83
Sundry Debtors 386.49 292.76 320.01 240.55 273.14
Cash and Bank Balance 139.38 289.38 207.84 221.11 154.19
Total Current Assets 2,255.27 1,605.04 1,713.04 1,745.35 1,548.16
Loans and Advances 809.15 987.02 419.76 426.64 356.03
Total CA, Loans &
Advances 3,064.42 2,592.06 2,132.80 2,171.99 1,904.19
Current Liabilities 2,466.09 1,748.26 1,643.03 2,186.24 1,426.91
Provisions 465.06 543.01 411.09 291.54 191.09
Total CL & Provisions 2,931.15 2,291.27 2,054.12 2,477.78 1,618.00
Net Current Assets 133.27 300.79 78.68 -305.79 286.19
Total Assets 6,949.23 4,579.60 4,064.18 3,631.10 4,216.09
Contingent Liabilities 501.38 563.18 151.52 253.25 748.98
Book Value (Rs) 104.73 78.45 64.19 54.08 46.18
 RATIO ANALYSIS

Key Financial Ratios Formulae Mar Mar '16 Mar '15 Mar '14 Mar '13
'17
Operating Profit Ratio Operating Profit/Net Sales X 100 14.85 17.93 14.71 12.61 10.55
Gross Profit Ratio Gross Profit/Net Sales X 100 11.63 14.84 11.95 9.76 7.97
Net Profit Ratio Operating Profit/Net Sales X 100 8.98 9.79 7.21 5.08 3.67
Return on Investments Net Profit / Shareholders Funds 275.5 261.01 225.84 195.94 156.76
X 100
Current Ratio Current Assets/Current Liabilities 0.82 0.96 0.84 0.81 0.86
Quick Ratio Liquid Assets/Current Liabilities 0.46 0.68 0.46 0.36 0.48
Debt Equity Ratio Total Long Term Debts / 0.3 0.15 0.24 0.33 0.81
Shareholders Fund
Proprietary Ratio Shareholders Fund/ Total Assets 0.16 0.05 0.1 0.26 0.58
Inventory Turnover Ratio Net Sales / Inventory 5.74 9.49 8.38 7.55 7.59
Debtors Turnover Ratio Total Sales / Account 26.3 28.4 31.89 33.92 26.71
Receivables
Investments Turnover Ratio Net Sales / Investments 5.74 9.49 8.38 7.55 7.59
Fixed Assets Turnover Ratio Cost of goods Sold / Total Fixed 1.25 1.69 1.83 1.83 1.96
Assets
Earnings Per Share Net Profit /No of Equity Shares 15.77 16.75 12.67 8.78 6.2

The overall companys growth from 2013 to 2017 is satisfactory in the terms of the Ratio analysis.

Profit Ratio Comparision

20
18
16
14
12
10
8
6
4
2
0
Mar '17 Mar '16 Mar '15 Mar '14 Mar '13

Operating Profit Ratio Gross Profit Ratio Net Profit Ratio

 Liquidity and Solvency Comparision
1.2

0.8

0.6

0.4

0.2

0
0 1 2 3 4 5 6

Current Ratio Quick Ratio Debt Equity Ratio Properitory Ratio

Turnover Ratio Comparision

160

140

120

100

80

60

40

20

0
Inventory Turnover Ratio Debtors Turnover Ratio Investments Turnover Ratio Fixed Assets Turnover Ratio

Mar '17 Mar '16 Mar '15 Mar '14 Mar '13