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Safe Harbor: - Some information in this report may contain
forward-looking statements. We have based these forwardlooking statements on our current beliefs, expectations and
intentions as to facts, actions and events that will or may occur
in the future. Such statements generally are identified by
forward-looking words such as believe, plan, anticipate,
continue, estimate, expect, may, will or other similar
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A forward-looking statement may include a statement of the
assumptions or basis underlying the forward-looking
statement. We have chosen these assumptions or basis in
good faith, and we believe that they are reasonable in all
material respects. However, we caution you that forwardlooking statements and assumed facts or bases almost always
vary from actual results, and the differences between the
results implied by the forward-looking statements and
assumed facts or bases and actual results can be material,
depending on the circumstances. You should also keep in
mind that any forward-looking statement made by us in this
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made it. New risks and uncertainties come up from time to
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update or revise the forward-looking statements in this report
after the date hereof. In light of these risks and uncertainties,
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and read along with this supplemental disclosure.
Page 2 of 24
TABLE OF CONTENTS
Section 1
Section 2
An Overview
Section 3
Financial Highlights
10
5.3
Results of Operations
10
Section 4
Financial Highlights
11
3.1
11
3.2
12
Section 5
Operating Highlights
14
Section 6
17
Section 7
19
Section 8
Glossary
23
Page 3 of 24
Section 1
TATA COMMUNICATIONS PERFORMANCE AT A GLANCE
Particulars
Core Operating Highlights
95th Percentile Badw idth Usage
Data Revenue by Segment
Service Provider
Enterprise
Data Revnue by Line of Business
Traditional Services
Grow th Service
Subsidiaries
Total Voice Minutes
International Long Distrance
National Long Distance
Core Financials
Gross Revenue
Net Revenue
EBITDA
EBIT
Profit Before Tax
Profit After Tax
Capex
-Of w hich Sustainence Capex
Free Cash Flow
Total Capital Employed
Net Debt / (Net Cash)
Key Ratios
EBITDA Margin
EBIT Margin
Net Profit Margin
Net Debt to EBITDA (LTM)
Weighted Average Cost of Debt
Interest Coverage Ratio (LTM)
Return on Capital Employed
Valuation Indicators
Market Capitalisation
Enterprise Value1
EV / EBITDA (LTM) 1
UNITS
Sep 2015
Dec 2015
Quarter Ended
Mar 2016 June 2016
Sep 2016
Tbps/month
8.67
7.53
8.06
8.67
8.68
9.29
%
%
42%
58%
43%
57%
42%
58%
43%
57%
41%
59%
41%
59%
%
%
%
76%
12%
12%
76%
13%
11%
76%
12%
11%
75%
13%
12%
75%
13%
12%
75%
13%
12%
Bn, Minutes
Bn, Minutes
Bn, Minutes
43.1
40
3.1
11.1
10.4
0.7
10.4
9.7
0.7
10.6
9.6
1.0
11.2
10.0
1.2
11.2
10.1
1.1
, Mn
, Mn
, Mn
, Mn
, Mn
, Mn
, Mn
, Mn
, Mn
, Mn
, Mn
1,86,529
86,013
27,470
7,584
4,448
1,909
17,184
1,021
10,286
94,137
95,225
46,573
21,702
7,040
2,021
1,830
880
4,780
216
2,260
1,02,724
94,160
46,787
21,301
6,618
1,597
906
1,084
4,763
124
1,855
1,06,379
97,715
47,786
23,099
7,837
2,879
880
48
4,174
350
3,663
94,137
95,225
46,306
22,328
7,862
3,012
1,702
903
4,407
169
3,454
95,730
97,144
46,891
22,619
7,792
3,148
1,245
283
3,303
167
4,489
1,07,509
1,04,877
%
%
%
Times
%
Times
%
14.7%
4.1%
1.0%
3.5
3.14%
1.84
8.1%
15.1%
4.3%
1.9%
3.7
3.27%
1.47
5.8%
14.1%
3.4%
2.3%
3.8
3.30%
1.42
5.5%
16.4%
6.0%
0.1%
3.5
3.14%
1.84
8.1%
17.0%
6.5%
2.0%
3.3
2.97%
2.41
9.9%
16.6%
6.7%
0.6%
3.5
3.02%
2.70
9.9%
, Bn
, Bn
Times
107.62
223.13
7.20
117.88
232.47
7.61
124.22
239.44
7.97
107.62
223.13
7.20
136.93
254.86
7.89
161.21
287.18
8.73
Page 4 of 24
Section 2
AN OVERVIEW
2.1 Company Overview
Tata Communications is the leading global provider of a
new world of communications. With a leadership
position in emerging markets, and an infrastructure that
spans the globe, Tata Communications leverages its
advanced solutions capabilities and domain expertise
across its global network to deliver managed solutions to
multi-national companies and service providers. Were
proud to provide 66% of the Fortune 500 companies with
our state-of-the-art solutions, including a wide range of
communication, collaboration, cloud, mobility, network
and data center services.
The Tata Communications global network includes one
of the most advanced and largest submarine cable
networks. We are in the Top 5 IP providers on 5
continents and offer public and private network
connectivity to more than 240 countries and territories.
Our major service/solutions are Network engineering,
development & management, Unified Communication &
Collaboration solutions such as video, audio and web
conferencing, in addition to an array of Data Center,
Cloud and Security Services."
Products, Services, and Solutions
Every industry is going through profound upheavals as
digital technology rapidly and radically transforms how
business engages with the marketplace and all
stakeholders. IT decision makers have started leveraging
the growing sophistication of hybrid solutions to reengineer IT economics, liberate more funds for
innovation and enhance core business processes. This
trend is driving greater demands for higher level
performance from ICT providers. Whether it be mature
enterprises looking to transform themselves or start up
enterprises creating new products and services.
Tata Communications portfolio of products, services and
solutions have been uniquely designed to deliver these
new levels of performance and is based on following
fundamentals of our business strategy 2.0 roadmap.
Our offerings enable information and computing to work
smarter for an Enterprise's CIO and harder for the
business users the CIO has to service. Wherever they
are. Whenever they need it. We put into their hands a
unique range of performance technologies from our best
in class platforms such as the worlds only global Tier 1
infrastructure and IZO Cloud Enablement to industry
specific solutions for businesses be it manufacturing,
media, BFSI or E-commerce industries.
Growth Services
- SIP - Trunking
- Ethernet Service
- Managed Hosting
- VPN
- GHCC
- V-Connect / Streaming
- IZO
- Mobility
- UCC
- Mobile Innovation
Voice
Subsidiaries
- Tata Communications
Transformation Services
- Tata Communications Payment
Solutions
Page 6 of 24
2.
3.
4.
5.
7.
8.
Mobility
Voice international voice wholesale, including
support for LTE based voice services (Mobile VoIP,
VoLTE and HD Voice).
Signaling (SCCP & Diameter) The signaling
services help in international roaming, our signaling
services can be delivered over a number of network
options, including TDM, IP, Global VPN, and IPX
Connect (SCCP over IPX). Also supported is
signaling evolution from SCCP to Diameter,
including Sigtran, ready for IMS based services and
for LTE roaming capabilities.
Mobile Messaging - our messaging network
ensures delivery of quality application-to-person
(A2P) messaging across the mobile ecosystem,
including mobile network operators, SMS
aggregators, enterprises and next generation
service providers (OTT providers). Mobile Network
Operators get protection from fraud, spam and grey
routing, through working with Tata Communications
as a single trusted source to help securely monetize
Page 7 of 24
Page 8 of 24
Page 9 of 24
Q2 consolidated EBIT grew by 22.3% on a QoQ basis and 29.9% on a YoY basis.
During H1 FY17 Free cash flows (EBITDA minus Capex) within the Core business stood at INR 794 crore (USD
119 Mn), growing 67% YoY on the back of strong performance in data business.
There was a one-time impairment in Neotel of Rs. 125 crores in Q2. On a like to like basis the Core PAT for Q2
would have grown by 74% YoY excluding impairment.
Core Net debt excluding TTSL payout improved from USD 1,439 Mn in June16 to USD 1,414 Mn in Sep16
(TTSL payout USD 159 Mn; Closing Net Debt USD 1,573 Mn)
In terms of Consolidated Balance Sheet there was a significant positive move in Other Financial Assets on
account of advance payment of Rs. 1058 Crore for TTSL obligation.
The Enterprise value of the India leg was INR 31.3 billion and Tata Communications will retain 26%
stake in the business.
The inflow to Tata Communications will be close to USD 300 million and will reflect in Q3FY17.
Page 10 of 24
Sep 2016
Gross Revenue
Net Revenue
EBITDA
EBITDA Margin
EBIT
Other Income
Finance Cost
Profit Before Tax
Tax Expense
Profit After Tax
Capex
50,911
26,638
8682
17.1%
3,975
395
1,770
1,362
957
400
3,679
Jun 2016
50,317
26,339
8,627
17.1%
3,249
471
1,721
1,216
793
418
4,811
QoQ
YoY
Sep 2015
Grow th Grow th
51,296
1.2%
(0.8%)
26,425
1.1%
0.8%
8,078
0.6%
7.5%
15.7%
3,059
22.3%
29.9%
674 (16.3%) (41.4%)
1,774
2.8%
(0.3%)
2,073
12.0% (34.3%)
948
20.7%
0.9%
1,123
(4.4%) (64.4%)
5,488 (23.5%) (33.0%)
Sep 2015
1,03,093
52,748
15,369
14.9%
5,462
1,594
3,740
3,441
1,879
1,556
9,707
YoY
Grow th
(1.8%)
0.4%
12.6%
Amount in , Cr
Particulars
Shareholder's Fund
Share Capital
Reserves and Surplus
Minority Interest Liability
Non-Current Liabilities
Current Liabilities
Total Liabilities
Total Equity and Liabilities
As at Sep
30, 2016
285
(825)
5
15,097
10,815
25,378
Assets
Non-Current Assets
Fixed Assets
Investments
19,615
15,166
986
Others
Current Assets
Total Assets
3,464
5,762
25,378
Page 11 of 24
32.3%
(45.7%)
(6.7%)
(25.1%)
(6.9%)
(47.5%)
(12.5%)
Sep 2016
Gross Revenue
Net Revenue
EBITDA
EBITDA Margin
EBIT
Other Income
Finance Cost
Profit Before Tax
Tax Expense
Profit After Tax
Capex
Free Cash Flow
46,891
22,619
7,792
16.6%
3,148
306
968
1,245
957
283
3,303
4,489
Jun 2016
Sep 2015
46,306
22,328
7,862
17.0%
3,012
416
941
1,702
793
903
4,407
3,454
46,573
21,702
7,040
15.1%
2,021
717
976
1,830
948
880
4,780
2,260
55.7%
(57.3%)
(0.9%)
(32.0%)
0.9%
(67.8%)
(30.9%)
98.6%
Sep 2016
93,197
44,947
15,654
16.8%
6,161
722
1,909
2,947
1,749
1,186
7,711
7,943
Sep 2015
91,957
41,612
13,015
14.2%
3,108
1,583
2,107
2,662
1,879
777
8,250
4,765
YoY
Grow th
1.3%
8.0%
20.3%
98.2%
(54.4%)
(9.4%)
10.7%
(6.9%)
52.6%
(6.5%)
66.7%
Quarter Ended
Particulars
Sep 2016
Gross Revenue
Net Revenue
EBITDA
EBITDA Margin
EBIT
Capex 1
Free Cash Flow
29,157
20,305
6,614
22.7%
2,191
3,025
3,589
Jun 2016
Sep 2015
28,416
19,958
6,694
23.6%
2,082
3,687
3,008
25,879
18,416
5,217
20.2%
512
4,302
915
QoQ
YoY
Grow th Grow th
2.6%
12.7%
1.7%
10.3%
(1.2%)
26.8%
5.2%
(18.0%)
19.3%
327.6%
(29.7%)
292.5%
Quarter Ended
Particulars
Gross Revenue
Net Revenue
EBITDA
EBITDA Margin
Sep 2016
325.4
258.4
102.1
31.4%
Jun 2016
317.2
255.2
103.1
32.5%
Sep 2015
304.6
244.5
86.2
28.3%
QoQ
YoY
Grow th Grow th
2.6%
6.8%
1.3%
5.7%
(1.0%)
18.4%
Quarter Ended
Particulars
Gross Revenue
Net Revenue
EBITDA
EBITDA Margin
Sep 2016
56.5
32.4
(6.7)
(11.8%)
Jun 2016
54.8
31.1
(8.7)
(15.8%)
Sep 2015
50.0
29.0
(8.3)
(16.6%)
QoQ
YoY
Grow th Grow th
3.1%
13.0%
4.2%
11.5%
Page 12 of 24
Quarter Ended
Particulars
Gross Revenue
Net Revenue
EBITDA
EBITDA Margin
Sep 2016
2,462
555
193
7.8%
Jun 2016
2,428
566
294
12.1%
Sep 2015
1,920
558
291
15.1%
QoQ
YoY
Grow th Grow th
1.4%
28.3%
-1.8%
(0.4%)
(34.3%) (33.5%)
Quarter Ended
Particulars
Gross Revenue
Net Revenue
EBITDA
EBITDA Margin
Sep 2016
1,524
304
95
6.2%
Jun 2016
1,523
295
122
8.0%
QoQ
YoY
Grow th Grow th
1,386
0.0%
10.0%
158
2.8%
92.5%
(94)
(22.3%)
(6.8%)
Sep 2015
Quarter Ended
Particulars
Gross Revenue
Net Revenue
EBITDA
EBITDA Margin
EBIT
Capex
Free Cash Flow
Sep 2016
17,734
2,314
1,178
6.6%
957
53
1,125
Jun 2016
17,890
2,370
1,167
6.5%
930
67
1,101
Sep 2015
20,695
3,286
1,823
8.8%
1,509
67
1,756
QoQ
YoY
Grow th Grow th
(0.9%) (14.3%)
(2.4%) (29.6%)
0.9% (35.4%)
2.9%
(20.8%)
2.2%
(36.6%)
(21.5%)
(35.9%)
Sep 2016
4,020
890
22.1%
827
91
802
116
117
376
Jun 2016
4,011
766
19.1%
237
58
780
(486)
(485)
403
Sep 2015
4,723
1,038
22.0%
1,038
3
798
243
243
708
(6.8%)
(20.3%)
2566.9%
0.5%
(52.2%)
(52.0%)
(46.9%)
Sep 2016
8,030
1,656
20.6%
1,064
149
1,582
-370
-369
779
Sep 2015
YoY
Grow th
(27.9%)
(29.7%)
11,136
2,354
21.1%
2,354
(54.8%)
58
156.6%
1,634
(3.1%)
779 (147.5%)
779 (147.4%)
1,457
(46.5%)
Page 13 of 24
Particulars
Neotel
Voice
Data
Traditional Services
Grow th Services
Subsidiaries
UNITS
%
%
%
%
%
%
Sep 2015
9.2%
40.3%
50.4%
76.3%
12.5%
11.1%
Quarter Ended
Dec 2015
Mar 2016 Jun 2016
8.3%
7.1%
8.0%
38.9%
37.9%
35.6%
52.9%
55.0%
56.5%
76.4%
74.9%
74.6%
12.4%
12.8%
12.9%
11.2%
12.3%
12.5%
Sep 2016
7.9%
34.8%
57.3%
74.8%
13.0%
12.3%
Sep 2015
24.5%
9.2%
66.3%
Quarter Ended
Dec 2015
Mar 2016 Jun 2016
26.5%
27.2%
28.9%
8.3%
7.1%
8.0%
65.3%
65.7%
63.1%
Sep 2016
29.2%
7.9%
63.0%
Sep 2015
12.8%
22.6%
64.6%
107.1%
-10.3%
3.2%
Quarter Ended
Dec 2015
Mar 2016 Jun 2016
11.7%
3.4%
8.9%
11.1%
13.9%
13.5%
77.2%
82.8%
77.6%
105.1%
93.6%
103.0%
-9.9%
-3.6%
-8.6%
4.8%
10.0%
5.6%
Sep 2016
10.3%
13.6%
76.2%
103.4%
-6.8%
3.3%
Particulars
Indian Rupee (INR)
South African Rand (ZAR)
Other International Currencies
UNITS
%
%
%
Particulars
Neotel
Voice
Data
Traditional Services
Grow th Services
Subsidiaries
UNITS
%
%
%
%
%
%
Particulars
UNITS
Neotel
Core
Sutainence Capex
Voice
Data
Other 1
Grow th Capex
Voice
Data
Strategic Projects 2
USD, Mn
Quarter Ended
Sep 2015 Dec 2015
Mar 2016 Jun 2016
8.8
12.9
7.8
6.1
Sep 2016
6.1
USD, Mn
USD, Mn
USD, Mn
0.8
2.5
6.2
0.1
1.7
6.7
1.1
4.1
4.9
0.7
1.9
9.8
0.7
1.8
3.4
USD, Mn
USD, Mn
USD, Mn
0.2
43.5
20.6
0.8
43.2
19.9
42.9
8.7
0.3
38.8
14.5
0.1
39.9
3.4
USD, Mn
73.9
72.4
61.7
65.9
49.3
1. Others include sustenance capex towards network engineering, IT, customer service operations etc.
2.. Strategic projects include new submarine cables and data centers and is part of Data Growth Capex
Page 14 of 24
Particulars
Neotel
Gross Debt
Net Debt
Core Business
Gross Debt
Foreign Currency Loans
INR Loans
Weighted Average Cost of Debt
Cash & Cash Equivalent
Net Debt
UNITS
Quarter Ended
Mar 2016 Jun 2016
Sep 2015
Dec 2015
Sep 2016
USD, Mn
USD, Mn
354
312
318
273
349
302
335
312
376
372
USD, Mn
USD, Mn
%
USD, Mn
1,678
66
3.27%
310
1,713
69
3.30%
306
1,741
79
3.14%
381
1,748
71
2.97%
380
1,676
99
3.02%
201
USD, Mn
1,434
1,476
1,438
1,439
1,573
Quarter Ended
Sep 2015 Dec 2015
Mar 2016 Jun 2016
7.53
8.06
8.67
8.68
Sep 2016
9.29
Sep 2015
51%
49%
Quarter Ended
Dec 2015
Mar 2016 Jun 2016
52%
53%
53%
48%
47%
47%
Sep 2016
53%
47%
Sep 2015
43%
57%
Quarter Ended
Dec 2015
Mar 2016 Jun 2016
42%
43%
41%
58%
57%
59%
Sep 2016
41%
59%
Sep 2015
76.3%
12.5%
11.1%
Quarter Ended
Dec 2015
Mar 2016 Jun 2016
76.4%
74.9%
74.6%
12.4%
12.8%
12.9%
11.2%
12.3%
12.5%
Sep 2016
74.8%
13.0%
12.3%
Particulars
UNITS
Particulars
India
Rest of World
UNITS
%
%
Particulars
Service Provider / Carrier
Enterprise
UNITS
%
%
Particulars
Traditional Services 1
Grow th Services 2
Subsidiaries 3
UNITS
%
%
%
1. Traditional services include Virtual Private Network, International Private Line, Internet Leased Line, Ethernet, Internet Protocol Transit, Inmarsat,
Content Delivery Network, National Private Line, Mobility, Data Centre, Unified Collaboration and Conferencing.
2. Growth services include IZO, Managed Hosting, Managed Security Services, Broadcast, Video Connect, SIP- Trunking, Global Hosted Contact
Center, Video Streaming, Mobile New Services, Healthcare, Media Management, Mobile Innovation.
3. Subsidiaries include Tata Communications Payment Solutions Ltd (TCPSL) and Tata Communications Transformation Services Limited (TCTSL)
Page 15 of 24
Particulars
UNITS
VPN
IPL
ILL
Ethernet
IP-T
Others
%
%
%
%
%
%
Quarter Ended
Dec 2015
Mar 2016 Jun 2016
21.1%
21.4%
21.5%
21.1%
20.6%
20.2%
11.5%
11.8%
11.8%
11.2%
11.3%
11.6%
10.0%
10.2%
10.0%
25.1%
24.8%
25.0%
Sep 2016
22.1%
20.3%
12.1%
11.6%
9.6%
24.2%
Quarter Ended
Dec 2015
Mar 2016 Jun 2016
48.5%
50.3%
52.8%
18.4%
14.2%
12.5%
4.9%
6.5%
7.4%
7.8%
8.7%
7.0%
7.0%
6.1%
5.4%
13.5%
14.1%
14.9%
Sep 2016
52.4%
12.4%
7.7%
6.1%
4.8%
16.7%
Quarter Ended
Sep 2015 Dec 2015
Mar 2016 Jun 2016
12976
12721
12441
12295
6229
6827
7631
8231
19205
19548
20072
20526
13557
13449
13448
13443
Sep 2016
12163
8808
20971
13298
Quarter Ended
Dec 2015
Mar 2016 Jun 2016
9.7
9.6
10.0
0.7
1.0
1.2
10.4
10.6
11.2
Sep 2016
10.1
1.1
11.2
Quarter Ended
Sep 2015 Dec 2015
Mar 2016 Jun 2016
5355
5404
5327
5294
3134
3400
4181
4287
8489
8804
9508
9581
Sep 2016
5403
4479
9882
Sep 2015
21.7%
19.8%
11.1%
11.2%
10.1%
26.1%
Particulars
UNITS
SIP-T
Hosting
GHCC
V Connect
VS & IPT
Others
%
%
%
%
%
%
Sep 2015
49.6%
16.9%
4.7%
10.1%
6.8%
11.9%
UNITS
No.
No.
No.
No.
UNITS
Bn, Minutes
Bn, Minutes
Bn, Minutes
Sep 2015
10.4
0.7
11.1
Particulars
Tata Communications
TCTSL
Total Employees
1.
UNITS
No.
No.
No.
Page 16 of 24
General Information
Mn, No
/ Share
Nos in 000/day
Mn/day
, Bn
Quarter Ended
Sep 30, 2016
TATACOMM / NSE
TCOM IN
285
565.65
890
437.23
161.21
Enterprise Value
, Bn
287.18
Times
8.73
6.2
UNITS
Category
% Holding
48.9%
26.1%
75.0%
Public Shareholding
Domestic Institutions
Foreign Institutions
Non-Institutions (Retail)
Sub-Total
10.8%
8.9%
5.3%
25.0%
Total
100%
Page 17 of 24
6.3
Tata Communications daily stock price (NSE) and volume (BSE & NSE Combined) movement
700
7200
650
6200
565.65
600
550
5200
512.6
478.9
4200
433.8
500
3200
450
2200
400
1200
350
300
01-Jul-16
16-Jul-16
31-Jul-16
15-A ug-16
VOLUME (000)
6.4
30-A ug-16
14-S ep-16
200
29-S ep-16
PRICE
130
118.1
120
110
100
103.4
90
80
70
60
01-Jul-16
16-Jul-16
31-Jul-16
15-A ug-16
TCOM
30-A ug-16
14-S ep-16
29-S ep-16
NIFTY
Page 18 of 24
Extracts from Audited Consolidated Financial Statements prepared in accordance with Indian
Accounting Standards (IND AS)
7.1.1
Particulars
450909
-
445686
-
451715
2430
896595
-
895918
5070
450909
445686
454145
896595
900988
Expenses
a. Network and transmission expense
b. Employee benefits expense
c. Depreciation and amortisation expense
d. Other expenses
e. Total expenses (2a to 2d)
227164
70212
46439
87285
431100
226841
70091
46600
81558
425090
237738
69516
47164
82944
437362
454005
140303
93039
168843
856190
486151
135289
93328
159036
873804
19809
7283
20596
9544
16783
9070
40405
16827
27184
18500
27092
9597
30140
9328
25853
9602
57232
18925
45684
20467
17495
20812
16251
38307
25217
8989
8506
7339
13473
9061
7190
16328
21979
18112
7105
Finance costs
Tax expense
10
11
Non-Controlling Interest
12
(4)
(4)
(53)
(60)
(33)
(113)
(68)
8449
13413
7157
21862
7037
8627
551
4491
9178
9201
(12500)
(9200)
(21700)
(3873)
(8649)
4491
(12522)
9201
580
586
421
1166
681
(4453)
(9235)
4070
(13688)
8520
3996
6979
10975
4178
(18313)
(14135)
11227
(21333)
(10106)
8174
(11334)
(3160)
15557
(33607)
(18050)
28500
28500
28500
28500
28500
2.96
1.40
4.71
1.47
2.51
3.94
7.67
2.87
2.47
5.46
DISCONTINUED OPERATION
13
14
15
16
17
18
19
20
21
22
Page 19 of 24
ASSETS
Non-current assets
(a) Property plant and equipment
(b) Capital work-in-progress
994395
58556
655
(d) Goodwill
16859
144303
15956
1230724
98354
(ii) Loans
117623
18217
150767
35910
420871
Current assets
(a) Inventories
2646
13454
269376
110346
6842
6761
76174
485599
400580
2537774
Page 20 of 24
28500
(82490)
(53990)
525
Total equity
(53465)
Non-current liabilities
(a) Financial liabilities
(i) Borrowings
882286
7322
48159
5183
391032
1333982
Current liabilities
(a) Financial liabilities
(i) Borrowings
138872
356919
233164
(b) Provisions
9469
35760
130154
904338
352919
2537774
Page 21 of 24
a)
EBITDA
Less: Capex
Free Cash Flow
b)
Derivation of Cash Profit from Operations from Profit before tax (Core)
Particulars
c)
Amount in , Mn
Quarter Ended Half Year Ended
Sep 2016
Sep 2016
7,792
15,654
3,303
7,711
4,489
7,943
Amount in , Mn
Quarter Ended Half Year Ended
Sep 2016
Sep 2016
1,245
2,947
4,644
9,493
-1,241
-2,027
306
722
6,824
13,745
Shareholders' Fund
Add: Net Debt / (Net Cash)
Capital Em ployed
Amount in , Mn
Half Year Ended
Sep 2016
2,632
1,04,877
1,07,509
Page 22 of 24
Section 8
GLOSSARY
8.1 Company Related Terms
Capex
It includes investment in Gross Fixed Assets capitalized during the quarter and capital work in progress during
the relevant period.
Capital Employed
Capital Employed is defined as sum of equity attributable to equity shareholders and net debt / (net cash).
It is computed by dividing net profit or loss attributable for the period to equity shareholders by the weighted
average number of equity shares outstanding during the period.
Diluted earnings per share is calculated by adjusting net profit or loss for the period attributable to equity
shareholders and the weighted average number of shares outstanding during the period for the effects of all
dilutive potential equity shares.
EBIT
Earnings before interest, taxation excluding other income for the relevant period.
EBIT (Including
Other Income)
Earnings before interest, taxation including other income for the relevant period.
EBITDA
Earnings before interest, taxation, depreciation and amortization and charity and donation excluding other
income for the relevant period. It is defined as operating income and does not include depreciation and
amortization expense, finance cost and tax expense.
EBITDA (Including
Other Income)
Earnings before interest, taxation, depreciation and amortization and charity and donation including other
income for the relevant period.
Enterprise Value
(EV)
Calculated as sum of Market Capitalization plus Net Debt / (Net Cash) as at the end of the relevant period.
EV / EBITDA
(times)(LTM)
Computed by dividing Enterprise Value as at the end of the relevant period (EV) by EBITDA for the preceding
(last) 12 months from the end of the relevant period.
GAAP
INDAS
Intangibles
NA/
Interest Coverage
Ratio(LTM)
It is computed by dividing EBIT for the preceding (last) 12 months from the end of relevant period by interest on
borrowing for the preceding (last) 12 months.
LTM
Market
Capitalization
Number of issued and outstanding shares as at end of the period multiplied by closing market price (NSE) as at
end of the period.
Mn
Million
Total Borrowings Less Cash and Cash Equivalents on the last day of the quarter.
It is computed by dividing net debt / (net cash) as at the end of the relevant period by EBITDA for preceding
(last) 12 months from the end of the relevant period.
PE Ratio
Price to Earnings ratio is calculated as closing market price (NSE) as at the end of relevant period, divided by
diluted annual earnings per share. Annual Diluted Earnings per share is calculated by adding the preceding last
four quarters diluted Earnings per share
Page 23 of 24
ROC
Registrar of Companies
Return On Capital
Employed (ROCE)
Pre Tax - (LTM)
For the full year computations, ROCE is computed by dividing the sum of EBIT for the period by average (of
opening and closing) capital employed. For the quarterly computations, it is computed by dividing sum of EBIT
for the preceding (last) 12 months from the end of the relevant period by average (of opening and closing)
capital employed during the relevant periods.
CSR
Page 24 of 24