Balance Sheet

Particulars As at March 31, 2017 As at March 31, 2016

A. ASSETS
1. Non-Current Assets
(a) Property, plant & equipments 60,381.65 45,559.49
(b) Capital work-in-progress 28,723.43 9,694.07
(c) Goodwill 1,773.58 1,982.37
(d) Other intangible assets 4,759.77 4,594.20
(e) Intangible assets under development 427.49 242.29
(f) Financial assets
i. Investment in joint venture - 29.7
ii. Other investments 17.49 12.08
iii. Loans 24.14 21.5
iv. Other financial assets 973.82 1,421.76
(g) Deferred tax assets (net) 629.26 602.08
(h) Other non-current assets 5,199.24 6,357.35
Total Non-Current Assets 102,909.87 70,516.89
2. Current Assets
(a) Inventories 26,455.26 19,390.88
(b) Financial assets
i. Investments 3,944.44 5,017.68
ii. Trade receivables 11,274.96 10,843.48
iii. Cash and cash equivalents 3,308.94 5,899.93
iv. Other bank balances 60.23 42.06
v. Loans 38.94 36.95
vi. Other financial assets 410.76 810.45
(c) Other current assets 4,601.36 3,503.98
Total Current Assets 50,094.89 45,545.41
3. Assets held for sale 475.93
TOTAL ASSETS (1+2+3) 153,004.76 116,538.23
EQUITY AND LIABILITIES
1. Equity
(a) Equity share capital 509.02 509.02
(b) Other equity 72,390.52 65,537.13
Total Equity 72,899.54 66,046.15

B) LIABILITIES
1. Equity
(a) Equity share capital 509.02 509.02
(b) Other equity 72,390.52 65,537.13
Total Equity 72,899.54 66,046.15

2. Non-Current Liabilities
(a) Financial liabilities
i Borrowings 21,559.04 6,492.72
 ii Other financial liabilities 504.97 521.27
(b) Provisions 343.75 364.36
(c) Deferred tax liabilities (net) 7,661.14 7,011.84
(d) Other non-current liabilities 5,217.17 1,628.72

Total Non-Current Liabilities 35,286.07 16,018.91

3. Current Liabilities
(a) Financial liabilities
i. Borrowings 10,886.27 7,398.99
ii. Trade payables 17,317.56 15,431.67
iii. Other financial liabilities 8,945.65 4,224.34
(b) Other current liabilities 2,553.23 2,657.93
(c) Provisions 4,042.67 3,291.67
(d) Current tax liabilities (net) 1,073.77 1,468.57
Total Current Liabilities 44,819.15 34,473.17
TOTAL EQUITY AND LIABILITIES 153,004.76 116,538.23

Additional Information

Debenture 6,250.00 1,000.00

Payment of dividend 1,018.05 1,301.62
Prepaid Expenses 563.56 508.42
 2014
As at March 31, 2015 Extra info

45,613.91
2,197.02
-
1,979.15
-

58.27
10.63
15.05
1,560.61
319.69
1,072.25
52,826.58

17,636.13 12,836.92

1,083.05
9,589.52 2,405.45
5,868.98
76.92
14.78
971.75
2,791.93
38,033.06
492.56
91,352.20

509.09
53,681.27
54,190.36

509.09
53,681.27
54,190.36

4,104.98
 1.59
402.97
6,110.48
1,391.67

12,011.69

4,666.36
8,909.97
5,219.76
2,903.99
2,845.06
605.01
25,150.15
91,352.20

1,000.00
1,320.91
233.85
Statement of Profit & Loss
Particulars As at March 31, 2017
1. Revenue from Operations:
Gross sales / income from operations 140,528.89
Other operating income 1,170.67
141,699.56
2. Other Income 1,541.27
3. Total Revenue (1 +2) 143,240.83
4. Expenses :
(a) Cost of materials consumed * 60,449.61
(b) Purchase of stock-in-trade 10,807.37
(c) Changes in inventories of finished goods, work-in progress &
stock-in-trade -2,356.44
(d) Excise duty on sales 9,899.20
(e) Employee benefits expense 17,420.70
(f) Finance costs 1,028.81
(g) Depreciation & amortisation expense 4,618.13
(h) Other expenses 27,014.95
Total expenses 128,882.33
5. Profit before Exceptional items and Tax (3 - 4) 14,358.50
6. Exceptional items -
7. Profit before Tax (5 - 6) 14,355.45
8. Tax Expense:
(a) Current tax expense 2,763.88
(b) MAT credit -225.74
(c) Net current tax expense 2,538.14
(d) Deferred tax 827.32
TOTAL 3,365.46
9. Profit after Tax (7 - 8) 10,989.99

Earnings per Share of Rs.1 each :

(a) Basic 21.59
(b) Diluted 21.59

* Cost of materials consumed

opening stock 2,780.84
Add: Purchases 56,738.99
Less: Closing stock 6,387.54
Please Go to Sheet 2 for Ratios of Apollo Tyres
As at March 31, 2016 As at March 31, 2015

127,428.64 137,247.03
1,086.68 897.26
128,515.32 138,144.29
679.80 537.99
129,195.12 128,692.24

53,542.17 64,188.49
6,057.54 5,932.13

-51.82 633.61
10,029.73 9,990.04
15,707.87 16,106.15
926.01 1,827.90 / Interest Cost
4,267.87 3,882.88
23,255.22 21,987.91
113,734.59 114,559.07
15,460.53 14,133.17
477.71 -824.9
15,906.49 13,308.27

4,318.77 3,534.99
- -
4,318.77 -
358.12 -2.81
4,676.89 3,532.18
11,229.60 9,776.09

22.06 19.25
22.06 19.25

3,037.66 3,952.13
46,154.51 53,387.81
2,780.84 3,037.66 3,952.13
3,952.13
Ratios of Apollo Tyres
Ratios

1. Current Ratio
2. Quick ratio/ACID test Ratio
3.Cash Ratio

II] Activity Ratio/Turnover Ratio /Operational Efficient Ratio

1.Inventory Turnover Ratio

2. Inventory Holding Period

3.Receivables Turnover Ratio

4.Recievable collection period

5.Payables Turnover Ratio

6.Creditors Payment Period

III] Profitability Ratios

1.Gross profit ratio

1.Net Profit ratio

2.Return on capital employed

3.Return on Investment

4.Return on Shareholder Fund ratio

5.Earnings Per Share

6.Dividend Per Share

7.Dividend Payout Ratio

IV] Leverage Ratios & Capital Struture Ratios

1.Debt-Equity Ratio

2.Proprietary Ratio

3.Interest Coverage Ratio

Observations:
I] Liquidity Ratio/Short Term Solvency :

Liquidity position of APOLLO TYRES LTD has been decreasing yearly this is evident from current ratio, quick ratio and
cash ratio
of the firm Current should be greater than 2 and quick ratio should be greater than 1 for being a good company

II] Activity Ratio/Turnover Ratio /Operational Efficient Ratio

From the above calculated turnover ratios, it is evident that operational efficiency is decreased and inventory
holding period is increased from 79 to 113 to 117 days from year 2015 to 2017 , which is not good for company. Similarly
Debtor turnover ratio is decreased and collection period is increasing payable tunover ratio is also decreased. Creditors
payment period which depicts the credit terms of business has increased from 94 to 130 to 154 yearly

III] Profitability Ratios

Profitability of firm has been increased in 2016 and again it went down in 2017 .
Return on capital employed and return on investment is going down every year. Return on shareholder fund also has gone
should be greater than 18.

IV] Leverage Ratios & Capital Struture Ratios

The debt/equity ratio also depends on the industry in which the company operates. If it is graeter than two then well
company to move ahead.It is improving yearwise.Interest coverage ratio Iis used to determine how easily a company
can pay interest on outstanding debt.it shoul be greater than two. So it is good for company
 Formula 2017 2016 2015

I] Liquidity Ratio/Short Term Solvency

Current Assets/Current Liabilities 1.12 1.32 1.51

(C.A.-Inventories-prepaid expenses) / C.L. 0.51 0.74 0.80
(Cash & Cash Equivalents + Marketable Investments)/C.L. 0.16 0.32 0.28

II] Activity Ratio/Turnover Ratio /Operational Efficient Ratio

Cost of Revenue from Operations/Average Stock 3.11 3.22 4.60 times

Average Stock=(openingStock+closing stock/2) 22923.07 18513.505 15236.525

365/ITR 117 113 79 days

Credit Sales / Average Receivables 7.82 7.51 11.79 times

Avg recievable=(openeing receivable+closing recievable)/2 16,696.70 15,638.24 10,792.25

365/RTR 47 49 31 days

Credit Purchase / Average Creditors 2.33 2.80 3.90 times

Purchases = COGS + Ending Inventory - Starting Inventory 53385.23 51787.42 59389.28
avg creditors=(opening credit+closing credit)/2 22923.07 18513.51 15236.53

365/CTR 157 130 94 days

III] Profitability Ratios

(Gross Profit/revenue from operations )X 100 49.29 53.23 48.91 %

GP=(Revenue from Operations-Cost of revenue from
operations(Opening Stock + Purchase - Closing Stock
+ Mfg. Expenses)) 69,271.91 67,828.93 67,126.41

(PAT Or EAT / Revenue from Oprations) X 100 7.82 8.81 7.12 %

EBIT or (Debt + ShareHolder's Fund)/Total capital X 100 19.69 23.40 26.07 %

total capital=share cap+LT debt+Res n surplus 72923.68 66067.65 54205.41

PAT/ Total Assets X 100 10.16 13.76 14.88 %

total assets= NCA+WC 108185.61 81589.13 65709.49

(PAT /shareholders fund) X 100 15.08 17.00 18.04 %

(PAT-Preference dividend) / No. of Equity Shares 21.59 22.06 19.20

 Equity Dividend / No. of Equity Shares 2.00 2.56 2.59

Dividend Per Share / Earnings Per Share 0.09 0.12 0.14

IV] Leverage Ratios & Capital Struture Ratios

Debt/Equity 0.20 0.16 0.14

Debt=Long term Borrowings+ L.T. Provisions + Debentures 14,928.94 10,690.66 7,511.42
Equity=ShareHolder's Funds 72,899.54 66,046.15 54,190.36

(ShareHolder's Fund/total assets) X 100 67.38376758 80.94969269 82.46960979 %

(Earning Before Interest & Tax + Interest) / Interest 14.95 18.18 8.28

I] Liquidity Ratio/Short Term Solvency :

een decreasing yearly this is evident from current ratio, quick ratio and
cash ratio
nd quick ratio should be greater than 1 for being a good company

II] Activity Ratio/Turnover Ratio /Operational Efficient Ratio

s evident that operational efficiency is decreased and inventory

ays from year 2015 to 2017 , which is not good for company. Similarly
period is increasing payable tunover ratio is also decreased. Creditors
erms of business has increased from 94 to 130 to 154 yearly

III] Profitability Ratios

been increased in 2016 and again it went down in 2017 .

ment is going down every year. Return on shareholder fund also has gone down it
should be greater than 18.

IV] Leverage Ratios & Capital Struture Ratios

ndustry in which the company operates. If it is graeter than two then well for
earwise.Interest coverage ratio Iis used to determine how easily a company
ng debt.it shoul be greater than two. So it is good for company