Ten Year Review - Standalone: Asian Paints Limited

(Figures in ` Crores except per share data, number of employees, number of shareholders and ratios)
04
RESULTS FOR THE 2013-2014 2012-2013 2011-2012 2010-2011 2009-2010 2008-2009 2007-2008 2006-2007 2005-2006 2004-2005
FINANCIAL YEAR
REVENUE ACCOUNT
Gross Revenue 12,042.6 10,405.0 9,064.3 7,202.0 5,753.5 5,003.4 4,062.8 3,360.7 2,777.4 2,338.8
Net Revenue from Operations 10,418.8 8,960.1 7,964.2 6,336.1 5,134.1 4,278.7 3,426.5 2,827.0 2,324.3 1,958.8
Growth Rates (%) 16.3 12.5 25.7 23.4 20.0 24.9 21.2 21.6 18.7 15.3
Materials Cost 5,940.0 5,163.4 4,746.3 3,646.9 2,840.2 2,606.9 1,956.1 1,660.7 1,351.7 1,128.4
% to Net Revenue 57.0 57.6 59.6 57.6 55.3 60.9 57.1 58.7 58.2 57.6
Asian Paints Limited

Overheads 2,701.6 2,249.4 1,866.1 1,532.0 1,275.0 1,103.8 908.0 736.7 616.5 532.7
% to Net Revenue 25.9 25.1 23.4 24.2 24.8 25.8 26.5 26.1 26.5 27.2
Operating Profit (EBITDA) 1,950.9 1,673.4 1,493.2 1,232.2 1,153.7 619.4 615.2 464.3 386.8 325.1
Finance Costs 26.1 30.6 30.8 15.4 13.8 10.4 8.3 6.9 3.8 2.8
Depreciation 212.3 127.0 99.5 94.5 60.7 57.2 43.8 45.4 45.5 47.6
Profit Before Tax and
1,712.5 1,515.9 1,362.9 1,122.3 1,079.2 551.8 563.2 412.0 337.5 274.7
Exceptional item
% to Net Revenue 16.4 16.9 17.1 17.7 21.0 12.9 16.4 14.6 14.5 14.0
Growth Rates (%) 13.0 11.2 21.4 4.0 95.6 (2.0) 36.7 22.1 22.9 15.4
Exceptional item (9.9) - - - 25.5 (5.9) - - (33.6) (4.2)
Profit Before Tax and after
1,702.6 1,515.9 1,362.9 1,122.3 1,104.7 545.9 563.2 412.0 303.9 270.5
Exceptional item
% to Net Revenue 16.3 16.9 17.1 17.7 21.5 12.8 16.4 14.6 13.1 13.8
Profit After Tax 1,169.1 1,050.0 958.4 775.2 774.5 362.4 375.2 272.0 186.8 173.5
Return on average capital
51.7 54.0 59.3 62.1 78.2 51.3 60.5 52.9 49.7 44.0
employed (ROCE) (%)
Return on average net worth
35.3 38.1 42.9 43.9 58.4 35.8 44.9 39.8 31.3 31.4
(RONW) (%)
CAPITAL ACCOUNT
Share Capital 95.9 95.9 95.9 95.9 95.9 95.9 95.9 95.9 95.9 95.9
Reserves and Surplus 3,505.0 2,926.3 2,391.9 1,879.4 1,461.3 998.6 832.6 648.2 526.4 476.3
Deferred Tax Liability (Net) 177.1 143.3 80.8 75.5 47.9 47.9 31.5 22.1 28.5 30.5
Borrowings 47.7 54.1 168.2 65.7 68.6 74.5 94.7 125.7 91.1 88.2
Fixed Assets 2,050.2 2,154.4 1,611.9 1,096.9 1,088.2 711.8 539.2 346.5 324.7 319.5
Investments @ 1,671.2 872.5 913.8 1,034.8 703.7 234.8 422.9 334.4 274.6 258.4
Debt-Equity Ratio 0.01:1 0.02:1 0.07:1 0.03:1 0.04:1 0.07:1 0.09:1 0.17:1 0.15:1 0.15:1
Market Capitalisation 52,559 47,139 31,056 24,238 19,593 7,539 11,510 7,336 6,178 3,751
PER SHARE DATA
Ten Year Review - Standalone
Earnings Per Share (EPS) (`) # *12.2 10.9 10.0 8.1 *8.1 *3.8 3.9 2.8 *2.0 *1.8
Dividend (%) 530.0 460.0 400.0 320.0 270.0 175.0 170.0 130.0 125.0 95.0
Book Value (`) # 37.5 31.5 25.9 20.6 16.2 11.4 9.7 7.8 6.5 6.0
OTHER INFORMATION
Number of Employees 5,870 5,236 4,937 4,640 4,382 4,260 3,924 3,868 3,681 3,550
Number of Shareholders 87,997 54,813 60,537 59,280 48,290 49,074 47,573 49,032 48,820 49,739
Note: From financial year 2010-11 figures have been regrouped as per Revised Schedule VI to the Companies Act, 1956.
* EPS calculated on Net Profit after exceptional items.
@ Includes Investments in Liquid Mutual Funds which is a part of cash and cash equivalents.
# With effect from 1 st August, 2013 face value of the Companys equity share has been subdivided from ` 10 per equity share to 10 (Ten) equity shares of ` 1 each and accordingly the
EPS and book value for all comparative periods have been restated.
(Figures in ` Crores except per share data and ratios)
RESULTS FOR THE 2013-2014 2012-2013 2011-2012 2010-2011 2009-2010^ 2008-2009 2007-2008 2006-2007 2005-2006 2004-2005
FINANCIAL YEAR
REVENUE ACCOUNT
Gross Revenue 14,567.2 12,488.1 10,778.0 8,610.8 7,314.5 6,229.8 5,075.9 4,259.9 3,510.0 2,951.5
Net Revenue from Operations 12,714.8 10,938.6 9,632.2 7,722.3 6,680.9 5,463.9 4,407.2 3,670.0 3,021.0 2,573.9
Growth Rates (%) 16.2 13.6 24.7 15.6 22.3 24.0 20.1 21.5 17.4 16.0
Materials Cost 7,340.7 6,413.0 5,795.3 4,474.6 3,758.0 3,370.6 2,577.6 2,199.4 1,792.1 1,502.6
% to Net Revenue 57.7 58.6 60.2 57.9 56.2 61.7 58.5 59.9 59.3 58.4
Overheads 3,376.2 2,793.6 2,328.2 1,919.6 1,695.6 1,425.5 1,170.6 989.9 838.3 736.6
% to Net Revenue 26.6 25.5 24.2 24.9 25.4 26.1 26.6 27.0 27.7 28.6
Operating Profit (EBITDA) 2,132.1 1,846.5 1,616.2 1,396.1 1,367.9 718.8 718.6 518.0 422.7 367.0
Finance Costs 42.2 36.7 41.0 23.2 28.5 26.3 21.2 18.9 11.4 10.8
Depreciation 245.7 154.6 121.1 113.1 83.6 74.4 59.2 61.1 60.6 61.4
Profit Before Tax and Exceptional
1,844.2 1,655.2 1,454.1 1,259.7 1,255.9 618.1 638.3 437.9 350.6 294.8
items
% to Net Revenue 14.5 15.1 15.1 16.3 18.8 11.3 14.5 11.9 11.6 11.5
Growth Rates (%) 11.4 13.8 15.4 0.3 103.2 (3.2) 45.8 24.9 18.9 20.0
Exceptional items (9.9) - - - 1.2 (1.2) (6.8) (7.8) (7.6) (7.7)
Profit Before Tax and after
1,834.3 1,655.2 1,454.1 1,259.7 1,257.0 616.9 631.4 430.2 343.0 287.1
Exceptional items
% to Net Revenue 14.4 15.1 15.1 16.3 18.8 11.3 14.3 11.7 11.4 11.2
Profit After Tax (after Minority
1,218.8 1,113.9 988.7 843.2 835.6 397.8 409.2 281.0 212.1 174.1
interest)
Return on average capital
47.6 50.3 54.3 58.9 74.4 46.5 56.3 45.9 42.2 40.6
employed (ROCE) (%)
Return on average net worth
32.8 36.3 40.1 43.3 57.4 36.4 46.5 39.5 35.0 31.7
(RONW) (%)
CAPITAL ACCOUNT
Share Capital 95.9 95.9 95.9 95.9 95.9 95.9 95.9 95.9 95.9 95.9
Reserves and Surplus 3,943.3 3,288.4 2,652.6 2,091.5 1,614.1 1,107.3 886.5 681.9 550.3 471.3
Deferred Tax Liability (Net) 187.8 154.4 92.8 85.2 56.2 53.3 39.1 26.8 34.1 35.3
Borrowings 249.2 251.0 341.1 233.4 229.2 308.6 275.2 306.2 261.3 239.5
Fixed Assets 2,491.8 2,456.0 1,876.1 1,316.0 1,280.1 905.1 691.7 493.2 451.9 437.0
Investments $ 1,423.6 778.8 750.7 922.0 624.1 78.4 276.7 192.7 164.1 113.8
Debt-Equity Ratio 0.06:1 0.07:1 0.12:1 0.11:1 0.13:1 0.26:1 0.28:1 0.39:1 0.4:1 0.42:1
Ten Year Review - Consolidated
PER SHARE DATA

Earnings Per Share (EPS) (`) # *12.7 11.6 10.3 8.8 *8.7 *4.1 *4.3 *2.9 *2.2 *1.8
Book Value (`) # 42.1 35.3 28.7 22.8 17.8 12.5 10.2 8.1 6.7 5.9
Note: From financial year 2010-11 figures have been regrouped as per Revised Schedule VI to the Companies Act, 1956.
* EPS calculated on Net Profit after exceptional items.
^ This period includes 15 months (1 st January 2009 to 31st March 2010) of Overseas Subsidiaries.
Annual Report 2013-14

$ Includes investments in Liquid Mutual Funds which is part of Cash and Cash equivalents.
# With effect from 1st August, 2013 face value of the Companys equity share has been subdivided from ` 10 per equity share to 10 (Ten) equity shares of ` 1 each and accordingly the
EPS and book value for all comparative periods have been restated.
05
Balance Sheet as at 31st March, 2014
(` in Crores)
Notes As at As at
31.03.2014 31.03.2013
EQUITY AND LIABILITIES
Shareholders Funds
Share Capital 2 95.92 95.92
Reserves and Surplus 3 3,505.01 2,926.34
3,600.93 3,022.26
NON CURRENT LIABILITIES
Long Term Borrowings 4 39.51 46.26
Deferred Tax Liability (Net) 5 177.07 143.33
Other Long Term Liabilities 6 0.12 0.50
Long Term Provisions 7 80.24 76.58
296.94 266.67
CURRENT LIABILITIES
Trade Payables 8 1,498.84 1,214.12
Other Current Liabilities 9 747.52 719.38
Short Term Provisions 7 537.48 423.74
2,783.84 2,357.24
Total 6,681.71 5,646.17
ASSETS
NON CURRENT ASSETS
Fixed Assets
Tangible Assets 10 A 1,973.21 2,074.91
Intangible Assets 10 B 38.99 26.98
Capital work-in-progress 37.95 52.55
2,050.15 2,154.44
Non-current Investments 11 548.19 359.70
Long Term Loans and Advances 12 94.64 91.06
Other Non Current Assets 17 6.32 0.03
CURRENT ASSETS
Current Investments 13 482.00 105.00
Inventories 14 1,665.05 1,480.79
Trade Receivables 15 712.36 633.88
Cash and Bank balances 16 745.36 551.57
Short Term Loans and Advances 12 201.54 162.72
Other Current Assets 17 176.10 106.98
3,982.41 3,040.94
Total 6,681.71 5,646.17
Significant Accounting Policies 1
Notes are an integral part of the financial statements
As per our report of even date For and on behalf of the Board
For B S R & Associates LLP For Shah & Co. Ashwin Choksi K.B.S. Anand Dipankar Basu
Chartered Accountants Chartered Accountants Chairman Managing Director Chairman of
F.R.N. 116231W F.R.N. 109430W & CEO Audit Committee
Bhavesh Dhupelia Ashish Shah Jayesh Merchant

Partner Partner CFO & Company Secretary,
Membership No: 042070 Membership No: 103750 President - Industrial JVs
Mumbai Mumbai Mumbai

14th May, 2014 14th May, 2014 14th May, 2014
30 Asian Paints Limited

Statement of Profit and Loss for the year ended 31st March, 2014
Management Discussion & Analysis

(` in Crores)
Notes Year Year
2013-14 2012-13
INCOME
Revenue from sale of goods and services (Net of discounts) 18A 11,542.02 9,978.88
Less: Excise duty 1241.80 1,068.91
Revenue from sale of goods and services (Net of discounts and excise duty) 10,300.22 8,909.97
Other Operating Revenue 18B 118.56 50.10
Directors Report
Other Income 19 173.66 126.12
Total Revenue (I) 10,592.44 9,086.19
EXPENSES
Cost of Materials Consumed 20A 5,758.71 5,125.48
Purchases of Stock-in-Trade 20B 256.58 174.11
Standalone Financial Statements

Changes in inventories of finished goods, work in progress and stock-in-trade 20C (75.34) (136.17)
Employee Benefits Expense 21 482.43 404.59
Other Expenses 22 2,219.13 1,844.76
Total (II) 8,641.51 7,412.77
EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND 1,950.93 1,673.42
AMORTISATION (EBITDA) (I) -(II)
Depreciation and Amortisation Expense 10 212.32 126.98
Finance Costs 23 26.08 30.56
Consolidated Financial Statements

PROFIT BEFORE EXCEPTIONAL ITEM & TAX 1,712.53 1,515.88
Exceptional Item 51 9.96 -
PROFIT BEFORE TAX 1,702.57 1,515.88
Less : Tax Expenses
Current Tax 498.63 406.03
Deferred Tax 5 33.74 62.59
Short/(Excess) tax provision for earlier years 1.14 (2.74)
Total Tax Expenses 533.51 465.88
PROFIT AFTER TAX 1,169.06 1,050.00
Corporate Governance
Earnings per share (`) Basic and diluted 46 12.19 10.95
(Face value of ` 1 each)
Notes are an integral part of the financial statements
Business Responsibility Report


Annual Report 2013-14 31

Cash Flow Statement for the year ended 31st March, 2014
(` in Crores)
2013-14 2012-13
(A) Cash Flow From Operating Activities
Profit before prior period item, tax and after 1,702.57 1,515.88
exceptional item
Adjustments for :
Depreciation, Amortisation & Exceptional Item 222.28 126.98
Interest income (5.05) (4.99)
Dividend income (90.55) (32.92)
Finance costs 26.08 30.56
Provision for doubtful debts and advances (0.54) 0.98
Bad debts written off 1.08 0.71
Net unrealised foreign exchange (gain)/ loss (2.86) (7.23)
Loss/(Profit) on Sale of long term investments (9.59) (26.20)
Loss/(Profit) on Sale of short term investments (1.18) (1.02)
Loss/(Profit) on Sale of fixed assets (3.98) (3.61)
Other Non Cash Items (1.80) -
Operating Profit before working capital 1,836.46 1,599.14
changes
Adjustments for :
Trade Receivables (79.27) (135.34)
Other Receivables (114.48) (53.38)
Inventories (184.26) (216.37)
Trade and other payables 354.46 290.39
Cash generated from Operations 1,812.91 1,484.44
Income Tax paid (net of refund) (444.07) (403.32)
Net Cash generated from operating activities 1,368.84 1,081.12
(B) Cash Flow from Investing Activities
Purchase of Fixed Assets (161.21) (585.49)
Sale of Fixed Assets 4.80 4.83
Loans to subsidiaries (0.14) (1.41)
Repayment of loan - subsidiaries - 1.34
Purchase of long term Investments - others (864.61) (200.38)
Purchase of long term Investments - Subsidiaries (119.48) -
Purchase of long term Investments - Joint Ventures (32.00) (0.09)
Sale of long term Investments 460.19 304.20
Net profit on sale of short term investments 1.18 1.02
Interest received 5.34 3.19
Dividend received from subsidiaries 27.78 1.22
Dividend received from others 62.77 31.70
Net Cash used in investing activities (615.38) (439.87)

(` in Crores)
2013-14 2012-13
(C) Cash Flow from Financing Activities
Proceeds from long term borrowings 1.42 1.98
Proceeds from short term borrowings - 8.27
Repayment of long term borrowings (7.86) (5.59)
Repayment of short term borrowings - (118.78)
Finance Costs Paid (24.98) (31.44)
Dividend and Dividend tax paid (528.25) (445.09)
Directors Report
Net Cash used in financing activities (559.67) (590.65)
(D) Net Increase/(Decrease) In Cash and cash 193.79 50.60
equivalents
Cash and cash equivalents as at 1st April 551.57 500.97
Cash and cash equivalents as at 31st March 745.36 551.57

Notes:
(a) The above Cash Flow Statement has been prepared under the Indirect Method as set out in the Accounting Standard-3 on Cash
Flow Statement.
(` in Crores)
As at As at
31.03.2014 31.03.2013
(b) Cash and Cash Equivalent comprises of : (Refer Note 16)

Cash on hand 0.10 0.11
Balances with Bank:
- Current Accounts 49.10 4.23
- Cash Credit Account 0.07 32.19
- Cheques on hand 14.42 32.70
- Deposit with bank with maturity less than 3 months 34.66 68.90
Investment in liquid mutual funds 640.96 407.81
Unpaid dividend and Fractional Bonus share account * 6.05 5.63
745.36 551.57
* The Company can utilise these balances only towards settlement of unclaimed dividend and fractional bonus share.
(c) Previous years figures have been regrouped, wherever necessary.



Consolidated Balance Sheet as at 31st March, 2014
(` in Crores)
Notes As at As at
31.03.2014 31.03.2013
EQUITY AND LIABILITIES
Shareholders' Funds
Share Capital 2 95.92 95.92
Reserves and Surplus 3 3,943.30 3,288.37
4,039.22 3,384.29
Minority Interest 246.02 160.77
NON CURRENT LIABILITIES
Long Term Borrowings 4 41.40 47.30
Deferred Tax Liability (Net) 5 190.01 156.73
Other Long Term Liabilities 6 9.13 9.39
Long Term Provisions 7 108.53 98.38
349.07 311.80
CURRENT LIABILITIES
Short Term Borrowings 8 198.63 189.86
Trade Payables 9 1,745.72 1,441.57
Other Current Liabilities 10 901.45 857.55
Short Term Provisions 7 559.32 441.01
3,405.12 2,929.99
Total 8,039.43 6,786.85
ASSETS
NON CURRENT ASSETS
Fixed Assets
Tangible Assets 11 A 2,330.74 2,365.68
Intangible Assets 11 B 89.45 31.06
Capital work-in-progress 71.60 59.21
2,491.79 2,455.95
Goodwill on consolidation 27 C 141.39 44.23
Non-current Investments 12 192.13 150.12

Deferred Tax Assets (Net) 5 2.19 2.35
Long Term Loans and Advances 13 130.25 104.67
Other Non Current Assets 14 25.22 23.35
CURRENT ASSETS
Current Investments 15 529.06 145.56
Inventories 16 2,069.86 1,830.29
Trade Receivables 17 1,110.28 980.88
Cash and Bank Balances 18 931.66 736.69
Short Term Loans and Advances 13 246.46 214.60
Other Current Assets 19 169.14 98.16
5,056.46 4,006.18
Total 8,039.43 6,786.85
Notes are an integral part of the financial statements.



Consolidated Statement of Profit and Loss for the year ended

31 March, 2014
st
(` in Crores)
Notes Year Year
2013-14 2012-13
(I) INCOME
Revenue from sale of goods and services (Net of discounts) 20 A 13,889.10 12,002.28
Less: Excise duty 1,307.46 1,127.93
Revenue from sale of goods and services (Net of discounts and excise duty) 12,581.64 10,874.35
Other Operating Revenue 20 B 133.17 64.26
134.22
Directors Report
Other Income 21 114.48
TOTAL REVENUE (I) 12,849.03 11,053.09
(II) EXPENSES
Cost of Materials Consumed 22A 7,025.28 6,265.13
Purchases of Stock-in-Trade 22B 405.72 297.43
Changes in inventories of finished goods, work in progress and stock-in-trade 22C (90.28) (149.56)

Employee Benefits Expense 23 759.71 623.56
Other Expenses 24 2,616.49 2,170.07
Total (II) 10,716.92 9,206.63
EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND 2,132.11 1,846.46
AMORTISATION (EBITDA) (I) - (II)
Depreciation and Amortisation Expense 11 245.66 154.60
Finance Costs 25 42.22 36.65
PROFIT BEFORE EXCEPTIONAL ITEM & TAX 1,844.23 1,655.21

Exceptional Item 30 9.96 -
PROFIT BEFORE TAX 1,834.27 1,655.21
Less : Tax Expenses
Current Tax 536.40 439.37
Deferred Tax 5 33.75 59.32
Short/(Excess) tax provision for earlier years 1.36 (3.00)
Total Tax Expenses 571.51 495.69
PROFIT AFTER TAX 1,262.76 1,159.52
Minority Interest 43.95 45.64
Net Profit Attributable to shareholders 1,218.81 1,113.88
Earnings per share (`) Basic and diluted 34 12.71 11.61
(Face value of ` 1 each)
Significant Accounting Policies. 1
Notes are an integral part of the financial statements.





Consolidated Cash Flow Statement for the year ended
31 March, 2014
st
(` in Crores)
2013-14 2012-13
(A) Cash Flow From Operating Activities
Profit Before Tax 1,834.27 1,655.21
Adjustments for :
Depreciation, amortisation and exceptional item 255.62 154.60
Profit on sale of long term investments (9.61) (26.21)
Profit on sale of short term investments (2.68) (1.05)
Profit on Sale of fixed assets (7.11) (4.21)
Finance costs 42.22 36.65
Provision for doubtful debts and advances 4.74 3.66
Bad debts written off 1.35 7.18
Interest income (13.87) (13.73)
Dividend income (65.47) (32.89)
Other Non Cash Items (1.80) -
Net unrealised foreign exchange (gain)/ loss (2.86) -
Effect of exchange rates on translation of operating cashflows 13.51 4.71
Operating Profit before working capital changes 2,048.31 1,783.92
Adjustments for :
Inventories *# (230.77) (246.88)
Trade and Other Receivables *# (254.08) (299.32)
Trade and Other Payables *# 316.70 387.53
Cash generated from Operations 1,880.16 1,625.25
Income Tax paid (net of refund) (480.16) (438.46)
Net Cash generated from operating activities 1,400.00 1,186.79
(B) Cash Flow from Investing Activities
Purchase of fixed assets *# (249.21) (643.78)
Sale of fixed assets 15.63 7.06
Purchase of long term investments # (871.59) (246.90)
Sale of long term investments 460.25 329.23
Profit on sale of short term Investments 2.68 1.05
(Investments)/Maturity of bank deposits (having original maturity more than three months) (4.54) 10.21
Interest received 14.43 10.90
Dividend received 65.47 32.89
Amount infused by Minority Stakeholders in subsidiaries 22.93 -
Amount paid towards stake acquisition in subsidiary [Refer note 27 C (b)] (58.90) -
Net Cash used in investing activities (602.85) (499.34)
(C) Cash Flow from Financing Activities
Proceeds from long term borrowings 1.82 5.69
Repayment of long term borrowings # (19.38) (6.10)
Proceeds from short term borrowings 42.61 27.35
Repayment of short term borrowings # (61.98) (128.50)
Finance costs paid (42.31) (37.09)
Dividend and Dividend tax paid (including dividend paid to Minority) (546.69) (462.35)
Net Cash used in financing activities (625.93) (601.00)
# Current year figures are net of adjustments pursuant to stake acquired in Sleek International Pvt. Ltd. [Refer note 27 C (a)]
* Previous year figures are net of non cash items pursuant to Composite Scheme of Restructuring [Refer note 28].

(` in Crores)
2013-14 2012-13
(D) Net Increase/(Decrease) In Cash and Cash Equivalents 171.22 86.45
Cash and cash equivalents as at 1st April 736.24 613.65
Net effect of exchange gain/ (loss) on cash and cash equivalents 16.62 5.29
Cash and Cash Equivalents acquired pursuant to stake acquisition in subsidiary 2.59 -
[Refer note 27C (a)]
Net Change in Cash and Cash Equivalents pursuant to Composite Scheme of - 30.85
Directors Report
Restructuring [Refer Note 28]
Cash and Cash Equivalents as at 31st March 926.67 736.24
Notes :
(a) The above Cash Flow Statement has been prepared under the Indirect Method as set out in the Accounting Standard-3 on
Cash Flow Statement.

(` in Crores)
As at As at
31.03.2014 31.03.2013
(b) Cash and Cash Equivalent comprises of : (Refer Note 18)
Cash on hand 2.86 0.52
Balances with Banks:
- Current Accounts 150.51 98.18
- Cash Credit Accounts 3.30 25.70

- Cheques on hand 15.07 33.79
- Deposits with Bank with maturity less than 3 months 46.51 89.26
- Unpaid dividend and fractional bonus shares account @ 6.05 5.63
Investment in Liquid mutual funds and Government Securities 702.37 483.16
926.67 736.24
@ The Group can utilise these balances only towards settlement of unclaimed dividend and fractional bonus shares.



Ten Year Review - Standalone: Asian Paints Limited

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Ten Year Review - Standalone: Asian Paints Limited

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(Figures in ` Crores except per share data, number of employees, number of shareholders and ratios)

Asian Paints Limited

PER SHARE DATA

Annual Report 2013-14

Bhavesh Dhupelia Ashish Shah Jayesh Merchant

Mumbai Mumbai Mumbai

30 Asian Paints Limited

Management Discussion & Analysis

Standalone Financial Statements

Consolidated Financial Statements

Bhavesh Dhupelia Ashish Shah Jayesh Merchant

Mumbai Mumbai Mumbai

Annual Report 2013-14 31

32 Asian Paints Limited

Standalone Financial Statements

Consolidated Financial Statements

Bhavesh Dhupelia Ashish Shah Jayesh Merchant

Mumbai Mumbai Mumbai

Annual Report 2013-14 33

Non-current Investments 12 192.13 150.12

Bhavesh Dhupelia Ashish Shah Jayesh Merchant

Mumbai Mumbai Mumbai

82 Asian Paints Limited

Management Discussion & Analysis

Standalone Financial Statements

Consolidated Financial Statements

Bhavesh Dhupelia Ashish Shah Jayesh Merchant

Mumbai Mumbai Mumbai

Annual Report 2013-14 83

84 Asian Paints Limited

Standalone Financial Statements

Consolidated Financial Statements

Bhavesh Dhupelia Ashish Shah Jayesh Merchant

Mumbai Mumbai Mumbai

14th May, 2014 14th May, 2014 14th May, 2014

Annual Report 2013-14 85

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