Ratio

Gross Profit to Sales

Operating Profit to Sales
Net Profit Margin
Payout Ratio (assuming there are no preference shares)
Retention Ratio (assuming there are no preference shares)
Times Interest Earned or
Debt Equity Ratio
Current Ratio
Quick Ratio
Cash Cycle

2004

0.2246409887
0.0494403677
3.532%
0.1732935719
0.8267064281
0.055374376
0.4455849425
0.9096458774
0.2063689218
14.7584327086

2005
0.2293967506
0.05022053
3.600%
0.2156423493
0.7843576507
0.0576911825
0.4666692955
0.8974771498
0.2108748368

Income Statement
Revenues
Net Sales
Other Income (Net)
Total Revenues
Cost of Goods Sold
Gross Profit
Expenses
Operating, SG&A
Interest Expense (Net)
Total Expenses
Earnings (Income) before taxes and Minority Interest
Income Tax
Earnings (Income) before Minority Interest
Minority Interest
Earnings from Discontinued Operations (Net of Tax)
Earnings after Tax (Net Income)
Average Number of Shares Outstandings (Millions)
Net Income Per Share

2004

256,329

2,352
258,681
198,747
59,934

44,909
832
45,741

14,193
5,118
9,075
(214)
193
9,054
4,363
2.08

2005

2006

285,222

267,275

2,767
287,989
219,793
68,196

51,105
986
52,091
16,105
5,589
10,516
(249)
10,267
4,259
2.41

2,593

As % of 2005 Figures

1%

269,868

205,963

77%

63,905

46239
947
47186
16,960.42
5,936.15
11,024
(249)
10775.27

4,259
2.53

18%

35%

Balance Sheet
Assets
Current Assets
Cash and bank balance
Accounts receivable
Inventories
Prepaid expenses
Total current assets
Property, plant and equipment
Land(property)
Plant and equipment
Less: accumulated depreciation
Net PPE
Goodwill
Other assets
Total assets
Liabilities and Equity
Current liabilities
Commercial paper
Accounts payable
Accrued liabilities and income tax
Current maturities of long term debt
Total Current liabilities
Long term debt
Deferred income taxes
Minority interest
Shareholders' equity
Total liabilities and equity

0.133976059
256329
285222
FY 04
FY 05

5,199
1,254
26,612
1,356
34,421

5,488
1,715
29,447
1,841
38,491

12,699
62,008
15,684
59,023
9,882
2,072
105,405

14,472
72,372
18,637
68,567
10,803
2,362
120,223

3,267
19,425
12,048
3,100
37,840
20,099
2,359
1,484
43,623
105,405

3,812
21,671
13,436
3,969
42,888
23,669
2,947
1,323
49,396
120,223

FY 06e

5,143
1,607
27,594
1,725
36,069
14,472
72,372
21,590
65,254
10,803
2,362
114,488

3,812
20,307
13,436
3,969
41,524
23,669
2,947
1,323
45,025
114,488

FY 06e Revenue

267,275 COGS

0.0192411525 Using
0.0060128602 Using
0.1032423866 Using
0.0064546213 Using

same
same
same
same

ratio
ratio
ratio
ratio

as
as
as
as

205,963

of
of
of
of

cash/ revenues in FY05

AR/ revenues in FY05
inventories/ COGS in FY05
prepaid expenses/ revenues in FY05

assuming same values as in FY 05

assuming same values as in FY 05
2,953 Assuming same rate of depreciation as in from FY 04 to FY
assuming same value as of FY 05
assuming same value as of FY 05

0.0759794125 Using same ratio as AP/ Sales in FY05

0.4791683537 keeping Long term debt/ shareholders' equity as in FY05

ues in FY05
es in FY05
COGS in FY05
penses/ revenues in FY05

on as in from FY 04 to FY 05

ders' equity as in FY05

Current Earnings
Projected Earnings Growth Rate
Projected P/E
Price per share

2.41
13.70%
17.5
47.95