Description
India Infoline (IIFL) group, is a brokerage firm dealing in retail brokerage, institutional brokerage, consumer lending, institutional lending, realty and wealth management.
IIFL Enterprising India Investors? Conference Mumbai
February 25, 2013
Disclaimer
This presentation may contain statements which reflect Management’s current views and estimates and could be construed as forward looking statements. The future involves certain risks and uncertainties that could cause actual results to differ materially from the current views being expressed. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures and regulatory developments. Responses can only be given to questions which are not price sensitive.
The Asian Paints Group Today…
?
India?s largest paint company for over four decades Group gross revenue of over ` 10,000 crores (USD 2 Bn) in FY 2012
?
?
Operates in 17 countries with 23 paint manufacturing facilities
Business Operations – Consolidated
?
Paints India
? ?
Sales Composition – March 2012
12% 3% 4%
Decorative Coatings – India Industrial Coatings – India
? ?
APPG (PPG AP) AP PPG
?
Chemicals India
81%
?
International Operations
APL
APPG
APICL/APCO
International
•50% of APPG considered since it is a 50:50 JV with PPG Inc. • Business of APICL/ APCO now part of AP PPG
Decorative Coatings - India
?
Strong presence throughout the country across all product segments
?
Introduced many innovative concept in the Indian paint industry like
?
? ? ? ? ? ? ?
Small packs Exterior segment Home Solutions (painting solution service) Colour Next (prediction of Colour Trends through in-depth research) Special Effects / Textured paints Signature Store Colour Ideas Samplers
Industrial Coatings - India
?
Asian Paints participates in the Industrial Coatings segment, through two 50:50 JVs with PPG Inc. of US
?
?
PPG AP (For Auto Coatings)
The Auto segment is catered through our JV (PPG AP)
? ?
Second largest supplier to the auto segment in India
Now, the largest player in auto refinish segment, post acquisition of ICI India?s 2k auto refinish business in 2007
Commissioned a 3,200 KL / year plant in Chennai, Tamil Nadu in 2008
?
?
AP PPG (For Non Auto Industrial)
?
Protective coatings, floor coatings, road marking paints and powder coatings segment catered to by thisJV Services customers in the sectors of Infrastructure, Oil & Gas, Power Plants, White Goods, etc.
?
Chemicals
?
Asian Paints also manufactures Phthalic Anhydride (PAN) and Pentaerythritol
?
?
PAN is manufactured in Gujarat and Penta in Tamil Nadu
More than 50% consumed internally
?
Chemicals business contributes about 1% to the group’s consolidated revenue
?
Its contribution to the group?s revenue has been continuously decreasing
The New Brand Identity
?
Signifies our intent to establish a deeper connect with our customers
?
Ensure that the Asian Paints brand is able to stir the consumer?s imagination, ignite their creativity as well as expand their vision to a new vista of possibility
The new logo conveys these elements with the flowing ribbon formation that creates the „AP? design highlighting the easy flow, smoothness, dynamism and possibility that our solution and offerings will provide.
?
Corporate Brand Positioning
“To be the fore runner of inspiring décor and to actively empower customers to create their dream homes”
International Operations
?
Contributes about 12% to the group turnover
% sales contribution of each region – FY 2012
8.2% 14.2%
?
Began by establishing presence in Fiji in 1978
Presence in 16 countries spread over 4 regions
? ? ? ?
28.9%
?
Caribbean Middle East Asia South Pacific
Middle East Caribbean South Pacific Islands Asia
48.8%
* Asia includes Sri Lanka, Nepal, Bangladesh and Singapore operations
International Operations - Brands
South East Asia
Singapore
South Asia
Sri Lanka, Nepal & Bangladesh
South Pacific
Fiji, Tonga, Vanuatu, Samoa & Solomon Islands
Middle East
UAE, Bahrain & Oman
Egypt
Caribbean
Jamaica, Barbados, Trinidad & Tobago
Presentation structure
?
? ?
Performance: Q3 & 9M FY 2012-13
Review of Business Units Macro Environment - Outlook and Risks
Sales Performance Q3 FY 2012-13
Gr rate over the same period of LY
35.0%
Standalone Net Sales & Operating Income
28.9% 28.9%
30.0%
25.0%
25.5%
20.3% 20.0% 15.0%
25.7% 20.3%
16.2%
10.0%
5.0% 0.0% Q1-FY12 Q2-FY12 Q3-FY12 Q4-FY12 FY2012
6.7%
Q1-FY13
Q2-FY13
Q3-FY13
?
Standalone
?
Net Sales and Operating Income at ` 2536.96 crores; grew by 20.0% Income from operations at ` 3052.9 crores; grew by 18.9%
?
Consolidated
?
Profit performance Q3 FY 2012-13
25.0% 20.0% 15.0% 10.0% 5.0% 0.0%
Q1-FY12
?
Standalone Paint Segment EBIT Margins
21.0% 18.9% 16.6% 18.5% 16.8%
18.3%
18.8% 16.0%
Q2-FY12
Q3-FY12
Q4-FY12
FY2012
Q1-FY13
Q2-FY13
Q3-FY13
Standalone:
?
?
PAT at ` 312 crores; grew by 24.6%
EBIT at ` 455.3 crores; grew by 25.3% PAT after Minority Interest at ` 335.2 crores; grew by 30.5 % EBIT at ` 504.7 crores; grew by 29.2%
?
Consolidated:
? ?
Sales & Profit Performance 9M FY 2012-13
Standalone:
?
Income from operations Up by 14.4% to Rs 6739.19 crores PBDIT up by 17.6 % to Rs 1193.25 crores Net profit up by 13.5% to Rs. 810.44 crores
?
?
Consolidated:
?
Income from operations up by 16.2% to Rs 8237.3 crores PBDIT up by 18.4% to Rs 1338.6 crores PAT after Minority Interest up by 18.3% to Rs 862.8 crores
?
?
Presentation structure
?
? ?
Performance : Q3 & 9M FY 2012-13
Review of Business Units Macro Environment - Outlook and Risks
Review of Business Units
Decorative Business - India
Industrial Operations - India International Operations
?
?
?
Decoratives Business - India
?
Demand Conditions
? ?
Good demand for decorative coatings across the country during festive season
Cumulative price increase for 9M FY13 is 5.3%
? ?
No Price revision effected in Q3 FY13 Announced 0.2% price cut on select product categories w.e.f Jan 2013
?
Input Cost
? ?
Witnessed Softening in prices of Titanium Dioxide and some other chemicals Material price Index for 9M FY 13 was 105.56 (taking FY 11-12 base as 100 )
Decoratives Business - India
?
Sales & Marketing
? ? ?
The total number of Colour Worlds have crossed 23,500 Tremendous response to the “Happy Painting Guide” campaign Colour Idea stores continue to receive a very good response
?
80 Colour Ideas stores in operation
?
Expansion Plans
?
Khandala project construction progressing well
? ?
Phase I – 3,00,000 KL to be commissioned in Q4 of FY 2012-13 The Plant can be further scaled up to 4,00,000 KL
?
Capex
?
Capex for the year estimated to be around ` 750 crores
Review of Business Units
Decorative Business - India
Industrial Operations - India International Operations
?
?
?
Industrial Operations
Auto (PPGAPP) and Non-Auto Industrial (AP PPG)segments
?
Auto refinish and General Industrial segments have shown relatively better growth Challenging demand conditions due to poor demand from projects business and slowdown in OEM segment
?
Review of Business Units
Decorative Business - India
Industrial Operations - India International Operations
?
?
?
International Operations
Net Sales (` in Crore s) Regions YTD Dec 12 YTD Dec 11 Gr %
Caribbean Middle East Asia South Pacific
Total
160.50 557.94 301.77 86.14
1,106.35
134.10 439.90 237.33 66.67
878.00
20% 27% 27% 29% 26%
PBIT (` in Crore s)
Regions YTD Dec 12 YTD Dec 11 Gr % Caribbean 11.42 10.50 9% Middle East 70.88 55.00 29% Asia 27.94 16.30 71% South Pacific 12.92 9.13 42% Total 123.17 90.93 35%
?
Good growth witnessed in Middle East and Asia Region
23
Presentation structure
?
? ?
Performance : Q3 & 9M FY 2012-13
Review of Business Units Macro Environment - Outlook and Risks
Macro Environment
?
While there are reasons to be concerned because of lower Gross Domestic Product (GDP) numbers, poor industrial production figures and weak external demand; easing inflation numbers provide some relief to the overall long term structural growth story
RBI?s decision to cut Repo rates and CRR by 25 bps is expected to give a boost to the liquidity by providing liquidity and making the borrowings cheaper Global economy exhibited mixed trends wherein on one hand US is showing some signs of improvement, UK on the other hand is exhibiting signs of a double dip recession
?
?
Key events to shape the outlook for next year
? ? ?
Annual Budget Elections RBI?s stance on balancing growth and inflation
Outlook and Risks
?
Any further fall in GDP growth rate might impact demand in India Weak consumer sentiments may lead to slowdown in discretionary spending in urban areas Commodity prices are softening but a trend reversal may raise a concern
?
?
?
Further depreciation in rupee will make imports more costly
Politically uncertainty and slow growth throughout the emerging economies may draw the attention of the world away from BRIC economies
?
Thank you...
Annexure
Consolidated P&L : Q3 FY2012-13
(` in Crores)
Particulars Income from operations Net Sales/Income from operations (Net of excise duty) Other operating income Total income from operations (net) Expenses Material Cost Employee benefits expense Depreciation and amortisation expense Other expenses Total Expenses Profit from operations before other income and finance costs (1-2) Other income Profit from ordinary activities before finance costs (3+4) Finance costs Profit from ordinary activities before tax (5-6) Tax expense Net Profit from ordinary activities after tax (7-8) Minority Interest Net Profit after taxes and minority interest (9-10) Quarter Ended 31.12.2012 31.12.2011 Gr %
3,037.14 15.78 3,052.92 1,813.33 153.17 36.61 575.99 2,579.10 473.82 30.91 504.73 7.85 496.88 146.56 350.32 15.09 335.23
2,558.86 8.13 2,566.99 1,551.35 131.79 30.67 478.71 2,192.52 374.47 16.07 390.54 10.65 379.89 113.47 266.42 9.56 256.86
19% 94% 19% 17% 16% 19% 20% 18% 27% 92% 29% -26% 31% 29% 31% 58% 31%
29
Standalone P&L : Q3 FY2012-13
(` in Crores)
Particulars Income from Operations Material Cost Employee Remuneration Other Expenses PBDIT Depreciation Profit from Operations before Other Income and Interest Other Income PBIT Interest PBT Curr. & Def Tax PAT EPS
Quarter Ended 31.12.2012 31.12.2011 2,536.96 1,482.40 97.56 505.77 451.23 30.08 421.15 34.12 455.27 5.97 449.30 137.27 312.03 32.53 2,114.18 1,253.30 83.22 410.18 367.47 24.88 342.59 20.80 363.39 6.20 357.19 106.70 250.49 26.11
Gr % 20% 18% 17% 23% 23% 21% 23% 64% 25% -4% 26% 29% 25%
Consolidated P&L : 9M FY2012-13
(` in Crores)
Particulars Income from operations Net Sales/Income from operations (Net of excise duty) Other operating income Total income from operations (net) Expenses Material Cost Employee benefits expense Depreciation and amortisation expense Other expenses Total Expenses Profit from operations before other income and finance costs (1-2) Other income Profit from ordinary activities before finance costs (3+4) Finance costs Profit from ordinary activities before tax (5-6) Tax expense Net Profit from ordinary activities after tax (7-8) Minority Interest Net Profit after taxes and minority interest (9-10) Nine Months Ended 31.12.2012 31.12.2011 Gr %
8,192.34 44.96 8,237.30 4,868.60 463.47 105.75 1,566.60 7,004.42 1,232.88 76.59 1,309.47 30.88 1,278.59 377.93 900.66 37.89 862.77
7,060.66 28.71 7,089.37 4,255.69 390.56 89.75 1,312.30 6,048.30 1,041.07 64.61 1,105.68 25.99 1,079.69 323.83 755.86 26.61 729.25
16% 57% 16% 14% 19% 18% 19% 16% 18% 19% 18% 19% 18% 17% 19% 42% 18%
Standalone P&L : 9M FY2012-13
(` in Crores)
Particulars Income from Operations Material Cost Employee Remuneration Other Expenses PBDIT Depreciation Profit from Operations before Other Income and Interest Other Income PBIT Interest PBT Curr. & Def Tax PAT EPS
Nine Months Ended 31.12.2012 31.12.2011 Gr % 6,739.19 3,913.36 299.74 1,332.84 1,193.25 86.86 1,106.39 82.44 1,188.83 23.71 1,165.12 354.68 810.44 84.49 5,888.36 3,494.04 256.30 1,122.69 1,015.34 73.98 941.36 92.81 1,034.17 17.14 1,017.02 303.22 713.81 74.42 14.4% 12.0% 16.9% 18.7% 17.5% 17.4% 17.5% -11.2% 15.0% 38.3% 14.6% 17.0% 13.5%
Key Ratios
% to Sales & Op. Inc. Material Cost/Net Sales PBDIT/Net Sales PBT/Net Sales PAT/Net Sales*
Standalone Consolidated YTD Dec 12 YTD Dec 11 YTD Dec 12 YTD Dec 11 58.4% 59.5% 59.4% 60.3% 19.0% 17.6% 16.3% 16.0% 17.4% 17.3% 15.6% 18.1% 12.1% 12.1% 11.0% 12.6%
* For Consolidation results, PAT is before Minority Interest
doc_790734687.pdf
India Infoline (IIFL) group, is a brokerage firm dealing in retail brokerage, institutional brokerage, consumer lending, institutional lending, realty and wealth management.
IIFL Enterprising India Investors? Conference Mumbai
February 25, 2013
Disclaimer
This presentation may contain statements which reflect Management’s current views and estimates and could be construed as forward looking statements. The future involves certain risks and uncertainties that could cause actual results to differ materially from the current views being expressed. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures and regulatory developments. Responses can only be given to questions which are not price sensitive.
The Asian Paints Group Today…
?
India?s largest paint company for over four decades Group gross revenue of over ` 10,000 crores (USD 2 Bn) in FY 2012
?
?
Operates in 17 countries with 23 paint manufacturing facilities
Business Operations – Consolidated
?
Paints India
? ?
Sales Composition – March 2012
12% 3% 4%
Decorative Coatings – India Industrial Coatings – India
? ?
APPG (PPG AP) AP PPG
?
Chemicals India
81%
?
International Operations
APL
APPG
APICL/APCO
International
•50% of APPG considered since it is a 50:50 JV with PPG Inc. • Business of APICL/ APCO now part of AP PPG
Decorative Coatings - India
?
Strong presence throughout the country across all product segments
?
Introduced many innovative concept in the Indian paint industry like
?
? ? ? ? ? ? ?
Small packs Exterior segment Home Solutions (painting solution service) Colour Next (prediction of Colour Trends through in-depth research) Special Effects / Textured paints Signature Store Colour Ideas Samplers
Industrial Coatings - India
?
Asian Paints participates in the Industrial Coatings segment, through two 50:50 JVs with PPG Inc. of US
?
?
PPG AP (For Auto Coatings)
The Auto segment is catered through our JV (PPG AP)
? ?
Second largest supplier to the auto segment in India
Now, the largest player in auto refinish segment, post acquisition of ICI India?s 2k auto refinish business in 2007
Commissioned a 3,200 KL / year plant in Chennai, Tamil Nadu in 2008
?
?
AP PPG (For Non Auto Industrial)
?
Protective coatings, floor coatings, road marking paints and powder coatings segment catered to by thisJV Services customers in the sectors of Infrastructure, Oil & Gas, Power Plants, White Goods, etc.
?
Chemicals
?
Asian Paints also manufactures Phthalic Anhydride (PAN) and Pentaerythritol
?
?
PAN is manufactured in Gujarat and Penta in Tamil Nadu
More than 50% consumed internally
?
Chemicals business contributes about 1% to the group’s consolidated revenue
?
Its contribution to the group?s revenue has been continuously decreasing
The New Brand Identity
?
Signifies our intent to establish a deeper connect with our customers
?
Ensure that the Asian Paints brand is able to stir the consumer?s imagination, ignite their creativity as well as expand their vision to a new vista of possibility
The new logo conveys these elements with the flowing ribbon formation that creates the „AP? design highlighting the easy flow, smoothness, dynamism and possibility that our solution and offerings will provide.
?
Corporate Brand Positioning
“To be the fore runner of inspiring décor and to actively empower customers to create their dream homes”
International Operations
?
Contributes about 12% to the group turnover
% sales contribution of each region – FY 2012
8.2% 14.2%
?
Began by establishing presence in Fiji in 1978
Presence in 16 countries spread over 4 regions
? ? ? ?
28.9%
?
Caribbean Middle East Asia South Pacific
Middle East Caribbean South Pacific Islands Asia
48.8%
* Asia includes Sri Lanka, Nepal, Bangladesh and Singapore operations
International Operations - Brands
South East Asia
Singapore
South Asia
Sri Lanka, Nepal & Bangladesh
South Pacific
Fiji, Tonga, Vanuatu, Samoa & Solomon Islands
Middle East
UAE, Bahrain & Oman
Egypt
Caribbean
Jamaica, Barbados, Trinidad & Tobago
Presentation structure
?
? ?
Performance: Q3 & 9M FY 2012-13
Review of Business Units Macro Environment - Outlook and Risks
Sales Performance Q3 FY 2012-13
Gr rate over the same period of LY
35.0%
Standalone Net Sales & Operating Income
28.9% 28.9%
30.0%
25.0%
25.5%
20.3% 20.0% 15.0%
25.7% 20.3%
16.2%
10.0%
5.0% 0.0% Q1-FY12 Q2-FY12 Q3-FY12 Q4-FY12 FY2012
6.7%
Q1-FY13
Q2-FY13
Q3-FY13
?
Standalone
?
Net Sales and Operating Income at ` 2536.96 crores; grew by 20.0% Income from operations at ` 3052.9 crores; grew by 18.9%
?
Consolidated
?
Profit performance Q3 FY 2012-13
25.0% 20.0% 15.0% 10.0% 5.0% 0.0%
Q1-FY12
?
Standalone Paint Segment EBIT Margins
21.0% 18.9% 16.6% 18.5% 16.8%
18.3%
18.8% 16.0%
Q2-FY12
Q3-FY12
Q4-FY12
FY2012
Q1-FY13
Q2-FY13
Q3-FY13
Standalone:
?
?
PAT at ` 312 crores; grew by 24.6%
EBIT at ` 455.3 crores; grew by 25.3% PAT after Minority Interest at ` 335.2 crores; grew by 30.5 % EBIT at ` 504.7 crores; grew by 29.2%
?
Consolidated:
? ?
Sales & Profit Performance 9M FY 2012-13
Standalone:
?
Income from operations Up by 14.4% to Rs 6739.19 crores PBDIT up by 17.6 % to Rs 1193.25 crores Net profit up by 13.5% to Rs. 810.44 crores
?
?
Consolidated:
?
Income from operations up by 16.2% to Rs 8237.3 crores PBDIT up by 18.4% to Rs 1338.6 crores PAT after Minority Interest up by 18.3% to Rs 862.8 crores
?
?
Presentation structure
?
? ?
Performance : Q3 & 9M FY 2012-13
Review of Business Units Macro Environment - Outlook and Risks
Review of Business Units
Decorative Business - India
Industrial Operations - India International Operations
?
?
?
Decoratives Business - India
?
Demand Conditions
? ?
Good demand for decorative coatings across the country during festive season
Cumulative price increase for 9M FY13 is 5.3%
? ?
No Price revision effected in Q3 FY13 Announced 0.2% price cut on select product categories w.e.f Jan 2013
?
Input Cost
? ?
Witnessed Softening in prices of Titanium Dioxide and some other chemicals Material price Index for 9M FY 13 was 105.56 (taking FY 11-12 base as 100 )
Decoratives Business - India
?
Sales & Marketing
? ? ?
The total number of Colour Worlds have crossed 23,500 Tremendous response to the “Happy Painting Guide” campaign Colour Idea stores continue to receive a very good response
?
80 Colour Ideas stores in operation
?
Expansion Plans
?
Khandala project construction progressing well
? ?
Phase I – 3,00,000 KL to be commissioned in Q4 of FY 2012-13 The Plant can be further scaled up to 4,00,000 KL
?
Capex
?
Capex for the year estimated to be around ` 750 crores
Review of Business Units
Decorative Business - India
Industrial Operations - India International Operations
?
?
?
Industrial Operations
Auto (PPGAPP) and Non-Auto Industrial (AP PPG)segments
?
Auto refinish and General Industrial segments have shown relatively better growth Challenging demand conditions due to poor demand from projects business and slowdown in OEM segment
?
Review of Business Units
Decorative Business - India
Industrial Operations - India International Operations
?
?
?
International Operations
Net Sales (` in Crore s) Regions YTD Dec 12 YTD Dec 11 Gr %
Caribbean Middle East Asia South Pacific
Total
160.50 557.94 301.77 86.14
1,106.35
134.10 439.90 237.33 66.67
878.00
20% 27% 27% 29% 26%
PBIT (` in Crore s)
Regions YTD Dec 12 YTD Dec 11 Gr % Caribbean 11.42 10.50 9% Middle East 70.88 55.00 29% Asia 27.94 16.30 71% South Pacific 12.92 9.13 42% Total 123.17 90.93 35%
?
Good growth witnessed in Middle East and Asia Region
23
Presentation structure
?
? ?
Performance : Q3 & 9M FY 2012-13
Review of Business Units Macro Environment - Outlook and Risks
Macro Environment
?
While there are reasons to be concerned because of lower Gross Domestic Product (GDP) numbers, poor industrial production figures and weak external demand; easing inflation numbers provide some relief to the overall long term structural growth story
RBI?s decision to cut Repo rates and CRR by 25 bps is expected to give a boost to the liquidity by providing liquidity and making the borrowings cheaper Global economy exhibited mixed trends wherein on one hand US is showing some signs of improvement, UK on the other hand is exhibiting signs of a double dip recession
?
?
Key events to shape the outlook for next year
? ? ?
Annual Budget Elections RBI?s stance on balancing growth and inflation
Outlook and Risks
?
Any further fall in GDP growth rate might impact demand in India Weak consumer sentiments may lead to slowdown in discretionary spending in urban areas Commodity prices are softening but a trend reversal may raise a concern
?
?
?
Further depreciation in rupee will make imports more costly
Politically uncertainty and slow growth throughout the emerging economies may draw the attention of the world away from BRIC economies
?
Thank you...
Annexure
Consolidated P&L : Q3 FY2012-13
(` in Crores)
Particulars Income from operations Net Sales/Income from operations (Net of excise duty) Other operating income Total income from operations (net) Expenses Material Cost Employee benefits expense Depreciation and amortisation expense Other expenses Total Expenses Profit from operations before other income and finance costs (1-2) Other income Profit from ordinary activities before finance costs (3+4) Finance costs Profit from ordinary activities before tax (5-6) Tax expense Net Profit from ordinary activities after tax (7-8) Minority Interest Net Profit after taxes and minority interest (9-10) Quarter Ended 31.12.2012 31.12.2011 Gr %
3,037.14 15.78 3,052.92 1,813.33 153.17 36.61 575.99 2,579.10 473.82 30.91 504.73 7.85 496.88 146.56 350.32 15.09 335.23
2,558.86 8.13 2,566.99 1,551.35 131.79 30.67 478.71 2,192.52 374.47 16.07 390.54 10.65 379.89 113.47 266.42 9.56 256.86
19% 94% 19% 17% 16% 19% 20% 18% 27% 92% 29% -26% 31% 29% 31% 58% 31%
29
Standalone P&L : Q3 FY2012-13
(` in Crores)
Particulars Income from Operations Material Cost Employee Remuneration Other Expenses PBDIT Depreciation Profit from Operations before Other Income and Interest Other Income PBIT Interest PBT Curr. & Def Tax PAT EPS
Quarter Ended 31.12.2012 31.12.2011 2,536.96 1,482.40 97.56 505.77 451.23 30.08 421.15 34.12 455.27 5.97 449.30 137.27 312.03 32.53 2,114.18 1,253.30 83.22 410.18 367.47 24.88 342.59 20.80 363.39 6.20 357.19 106.70 250.49 26.11
Gr % 20% 18% 17% 23% 23% 21% 23% 64% 25% -4% 26% 29% 25%
Consolidated P&L : 9M FY2012-13
(` in Crores)
Particulars Income from operations Net Sales/Income from operations (Net of excise duty) Other operating income Total income from operations (net) Expenses Material Cost Employee benefits expense Depreciation and amortisation expense Other expenses Total Expenses Profit from operations before other income and finance costs (1-2) Other income Profit from ordinary activities before finance costs (3+4) Finance costs Profit from ordinary activities before tax (5-6) Tax expense Net Profit from ordinary activities after tax (7-8) Minority Interest Net Profit after taxes and minority interest (9-10) Nine Months Ended 31.12.2012 31.12.2011 Gr %
8,192.34 44.96 8,237.30 4,868.60 463.47 105.75 1,566.60 7,004.42 1,232.88 76.59 1,309.47 30.88 1,278.59 377.93 900.66 37.89 862.77
7,060.66 28.71 7,089.37 4,255.69 390.56 89.75 1,312.30 6,048.30 1,041.07 64.61 1,105.68 25.99 1,079.69 323.83 755.86 26.61 729.25
16% 57% 16% 14% 19% 18% 19% 16% 18% 19% 18% 19% 18% 17% 19% 42% 18%
Standalone P&L : 9M FY2012-13
(` in Crores)
Particulars Income from Operations Material Cost Employee Remuneration Other Expenses PBDIT Depreciation Profit from Operations before Other Income and Interest Other Income PBIT Interest PBT Curr. & Def Tax PAT EPS
Nine Months Ended 31.12.2012 31.12.2011 Gr % 6,739.19 3,913.36 299.74 1,332.84 1,193.25 86.86 1,106.39 82.44 1,188.83 23.71 1,165.12 354.68 810.44 84.49 5,888.36 3,494.04 256.30 1,122.69 1,015.34 73.98 941.36 92.81 1,034.17 17.14 1,017.02 303.22 713.81 74.42 14.4% 12.0% 16.9% 18.7% 17.5% 17.4% 17.5% -11.2% 15.0% 38.3% 14.6% 17.0% 13.5%
Key Ratios
% to Sales & Op. Inc. Material Cost/Net Sales PBDIT/Net Sales PBT/Net Sales PAT/Net Sales*
Standalone Consolidated YTD Dec 12 YTD Dec 11 YTD Dec 12 YTD Dec 11 58.4% 59.5% 59.4% 60.3% 19.0% 17.6% 16.3% 16.0% 17.4% 17.3% 15.6% 18.1% 12.1% 12.1% 11.0% 12.6%
* For Consolidation results, PAT is before Minority Interest
doc_790734687.pdf