GL Name

Total Assets
Current Assets
Cash and Cash Equivalents
ST Investments
Marketable Securities
STI-Others
Trade and Other Receivables
Account Receivables
Note Receivables
Other Receivables
(Allowance for Doubtful Account)
Prepayments
Current Loans
(Allowance for Current Loans)
Inventories
CA-Others
Fixed Assets
LT Investment
LT Loans
(Allowance for LT Loans)
Investments in Associates
LTI-Others
Property, Land, and Equipment
Land
Building
(Accumulated Depreciation)
Machinery & Equipment
(Accumulated Depreciation)
Leased Asset
(Accumulated Depreciation)
PPE-Others
(Accumulated Depreciation)
Intangible Assets
Goodwill
Patents, Licenses, and Trademarks less Accumulated Amortization
ITA-Others
Other Assets
Deferred Tax Assets
OLTA-Others
Total Liability
Current Liabilities
ST Debt
Interest-Bearing Liabilities(Borrowings from Bank, Bond, etc)
STD-Others
Trade and Other Payables
Account Payables
Note Payables
Other Payables
Advances
Other Accrued Liabilities
Current Portion of LT Debt
Current Portion of Lease Obligation
CL-Others
LT Liabilities
LT Debts
Interest-Bearing Liabilities(Borrowings from Bank, Bond, etc)
LTD-Others
Lease Obligation
Deferred Tax Liabilities
OLTL-Others
Total Equity
Capital Stock
Common Stock
Preferred Stock
Additional Paid-in Capital
Retained Earnings
TE-Others
Total Liability & Equity
Minority Interest
forecasting Dividends
Net Profit Or Loss For The Period
Sales Revenue tendency
 This 2022/03(Unqualified 2021/03(Unqualified 2020/03(Unqualified
Term(2023/03) Opinion) Opinion) Opinion)
Amount Amount Amount Amount
22,231,900.00 20,873,300.00 19,192,200.00 17,131,100.00
14,569,400.00 13,851,300.00 12,161,200.00 10,507,600.00
310,800.00 392,000.00 262,900.00 128,400.00
0 0 0 0
0 0 0 0
0 0 0 0
3,602,200.00 4,344,000.00 4,718,400.00 4,652,300.00
3,602,200.00 4,344,000.00 4,718,400.00 4,652,300.00
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
9,132,000.00 7,860,600.00 6,014,900.00 4,923,300.00
1,524,400.00 1,254,700.00 1,165,000.00 803,600.00
7,662,500.00 7,022,000.00 7,031,000.00 6,623,500.00
561,400.00 287,000.00 294,600.00 712,700.00
0 0 0 0
0 0 0 0
45,900.00 287,000.00 294,600.00 712,700.00
515,500.00 0 0 0
7,028,900.00 6,701,400.00 6,675,500.00 5,886,600.00
666,200.00 666,200.00 666,200.00 682,000.00
1,900,700.00 1,679,800.00 1,749,600.00 1,784,500.00
0 0 0 0
3,279,000.00 3,154,600.00 3,159,800.00 3,149,400.00
0 0 0 0
889,000.00 880,400.00 836,000.00 65,400.00
0 0 0 0
294,000.00 320,400.00 263,900.00 205,300.00
0 0 0 0
12,200.00 7,800.00 10,000.00 8,700.00
0 0 0 0
0 0 0 0
12,200.00 7,800.00 10,000.00 8,700.00
60,000.00 25,800.00 50,900.00 15,500.00
0 0 0 0
60,000.00 25,800.00 50,900.00 15,500.00
14,552,300.00 13,518,100.00 12,114,400.00 10,255,300.00
11,048,300.00 10,838,200.00 9,029,300.00 8,268,800.00
2,349,100.00 2,867,900.00 1,233,000.00 2,268,500.00
2,349,100.00 2,867,900.00 1,233,000.00 2,268,500.00
0 0 0 0
5,881,200.00 6,264,300.00 6,573,300.00 3,743,900.00
 5,881,200.00 6,264,300.00 6,573,300.00 3,743,900.00
0 0 0 0
0 0 0 0
1,799,600.00 643,900.00 246,000.00 720,800.00
0 0 0 0
572,200.00 678,800.00 589,100.00 368,400.00
9,100.00 9,500.00 12,400.00 12,700.00
437,100.00 373,800.00 375,500.00 1,154,500.00
3,504,000.00 2,679,900.00 3,085,100.00 1,986,500.00
1,918,900.00 2,119,800.00 2,563,300.00 1,627,100.00
2,349,100.00 2,867,900.00 1,233,000.00 2,268,500.00
0 0 0 0
89,800.00 70,800.00 83,600.00 58,200.00
443,900.00 378,800.00 322,900.00 288,600.00
1,051,400.00 110,500.00 115,300.00 12,600.00
7,679,600.00 7,355,200.00 7,077,800.00 6,875,800.00
102,700.00 102,700.00 102,700.00 102,700.00
102,700.00 102,700.00 102,700.00 102,700.00
0 0 0 0
0 0 0 0
7,576,900.00 7,252,500.00 6,975,200.00 6,773,100.00
0 0 0 0
22,231,900.00 20,873,300.00 19,192,200.00 17,131,100.00
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
10000
 GL Name

Sales Revenue
Cost Of Goods Sold
Gross Profit On Sales
Selling And Administrative Expenses
Salaries
Depreciation And Amortization
Bad Debt Expenses
Advertising Expense
Lease Payments
S&A-Others
Income From Operations
Other Revenues And Gains(Non-Operating Revenue)
Interest Revenue
Dividend Income
Income From Associates(Under Using Equity Method)
Gain on disposition of tangible, intangible, & other fixed assets
NOG-Others
Other Expenses And Losses(Non-Operating Expense)
Finance Costs
Loss From Associates(Under Using Equity Method)
Loss on disposition of tangible, intangible, & other fixed assets
NOL-Others
Ordinary Profit Or Loss
Tax Expense
Profit After Tax
Minority Interest
Net Profit Or Loss From Ordinary Activities
Extraordinary Items(Unusual And Infrequent Items)
Other Items
Net Profit Or Loss For The Period
Dividends
Sales Revenue tendency
 2022/03 2021/03 2020/03
This Term
(Unqualified (Unqualified (Unqualified
(2023/03)
Opinion) Opinion) Opinion)
Amount Amount Amount Amount
19,803,000.00 17,070,800.00 15,815,100.00 13,905,100.00
12,668,300.00 11,452,400.00 10,290,000.00 8,887,200.00
7,134,700.00 5,618,400.00 5,525,100.00 5,017,900.00
5,677,100.00 4,425,000.00 4,540,500.00 4,007,700.00
974,900.00 874,800.00 758,900.00 747,200.00
467,800.00 484,900.00 452,600.00 381,000.00
91,600.00 2,500.00 2,300.00 2,000.00
199,100.00 193,700.00 140,300.00 61,900.00
- - - -
3,943,700.00 2,869,100.00 3,186,400.00 2,815,600.00
1,457,600.00 1,193,400.00 984,600.00 1,010,200.00
53,200.00 40,100.00 40,200.00 19,700.00
34,700.00 26,400.00 20,100.00 7,600.00
- - - -
- - - -
2,600.00 2,400.00 12,200.00 10,000.00
15,900.00 11,300.00 7,900.00 2,100.00
1,040,100.00 930,000.00 723,600.00 847,600.00
1,040,100.00 930,000.00 723,600.00 847,600.00
- - - -
- - - -
- - - -
470,700.00 303,500.00 301,200.00 182,300.00
143,700.00 17,400.00 90,400.00 -232,600.00
327,000.00 286,100.00 210,800.00 414,900.00
- - - -
327,000.00 286,100.00 210,800.00 414,900.00
- - - -
- - - -
327,000.00 286,100.00 210,800.00 414,900.00
- - - -
- - - -
10000
 31 Mar, 2023 31 Mar, 2022 31 Mar, 2021 31 Mar, 2020
2022/03 2021/03 2020/03
This Term
(Unqualified (Unqualified (Unqualified
GL Name (2023/03)
Opinion) Opinion) Opinion)
Amount Amount Amount Amount Check Legends Legends Legends Do not delete Columns Do not delete Columns Do not delete Columns
Total Assets 2,223.19 2,087.33 1,919.22 1,713.11 TRUE 0 Pre-Populated Field Total Assets
Current Assets 1,456.94 1,385.13 1,216.12 1,050.76 TRUE 0 Pre-Populated Field Total Current Assets
Cash and Cash Equivalents 31.08 39.20 26.29 12.84 0 Pre-Populated Field Cash and Bank Balances
ST Investments 0 0 0 0 Input Field Current Investments
Marketable Securities 0 0 0 0 Ignore Field
STI-Others 0 0 0 0
Trade and Other Receivables 360.22 434.40 471.84 465.23 Trade Receivables
Account Receivables 360.22 434.40 471.84 465.23 Trade Receivables
Note Receivables
Other Receivables 0 0 0 0
(Allowance for Doubtful Account)
Prepayments 0 0 0 0
Current Loans 0 0 0 0
(Allowance for Current Loans)
Inventories 913.20 786.06 601.49 492.33 Inventories
CA-Others 152.44 125.47 116.50 80.36
Fixed Assets 766.25 702.20 703.10 662.35 TRUE
LT Investment 56.14 28.70 29.46 71.27 Non0current Investments
LT Loans Long Term Loans and Advances
(Allowance for LT Loans)
Investments in Associates 4.59 28.70 29.46 71.27 Non0current Investments Long Term Loans and Advances
LTI-Others 51.55
Property, Land, and Equipment 702.89 670.14 667.55 588.66 TRUE Tangible Assets Capital Work0in0progress
Land 66.62 66.62 66.62 68.20
Building 190.07 167.98 174.96 178.45
(Accumulated Depreciation)
Machinery & Equipment 327.90 315.46 315.98 314.94
(Accumulated Depreciation)
Leased Asset 88.90 88.04 83.60 6.54
(Accumulated Depreciation)
PPE-Others 29.40 32.04 26.39 20.53
(Accumulated Depreciation)
Intangible Assets 1.22 0.78 1.00 0.87 Intangible Assets
Goodwill
Patents, Licenses, and Trademarks less Accumulated Amortization
ITA-Others 1.22 0.78 1.00 0.87
Other Assets 6.00 2.58 5.09 1.55
Deferred Tax Assets 0 0 0 0 Net Deferred Tax Assets
OLTA-Others 6.00 2.58 5.09 1.55
Total Liability 1,455.23 1,351.81 1,211.44 1,025.53 TRUE
Current Liabilities 1,104.83 1,083.82 902.93 826.88 TRUE
ST Debt 234.91 286.79 123.30 226.85
Interest-Bearing Liabilities(Borrowings from Bank, Bond, etc) 234.91 286.79 123.30 226.85 Short Term Borrowings
STD-Others 0 0 0 0
Trade and Other Payables 588.12 626.43 657.33 374.39
Account Payables 588.12 626.43 657.33 374.39 Trade Payables
Note Payables
Other Payables 0 0 0 0
Advances 179.96 64.39 24.60 72.08
Other Accrued Liabilities 0 0 0 0
Current Portion of LT Debt 57.22 67.88 58.91 36.84
Current Portion of Lease Obligation 0.91 0.95 1.24 1.27
CL-Others 43.71 37.38 37.55 115.45 Total Current Liabilities Short Term Provisions
LT Liabilities 350.40 267.99 308.51 198.65 FALSE
LT Debts 191.89 211.98 256.33 162.71
Interest-Bearing Liabilities(Borrowings from Bank, Bond, etc) 191.89 211.98 256.33 162.71 Long Term Borrowings
LTD-Others 0 0 0 0
Lease Obligation 8.98 7.08 8.36 5.82
Deferred Tax Liabilities 44.39 37.88 32.29 28.86 Net Deferred Tax Liabilities
OLTL-Others 105.14 11.05 11.53 1.26 Other Long Term Liabilities Long Term Provisions
Total Equity 767.96 735.52 707.78 687.58 Total Equity
Capital Stock 10.27 10.27 10.27 10.27
Common Stock 10.27 10.27 10.27 10.27 Share Capital
Preferred Stock
Additional Paid-in Capital
Retained Earnings 757.69 725.25 697.52 677.31 Reserves and Surplus
TE-Others
Total Liability & Equity 2,223.19 2,087.33 1,919.22 1,713.11 Total Equity and Liabilities
Minority Interest
forecasting Dividends
Net Profit Or Loss For The Period
Sales Revenue tendency
Check 1 1 1 TRUE
Check 1.00 1.00 1.00 1.00
Check 1 TRUE TRUE TRUE
Check 1 TRUE TRUE TRUE
 A B C D E F G H I J K L
1 31 Mar, 2023 31 Mar, 2022 31 Mar, 2021 31 Mar, 2020
2022/03 2021/03 2020/03
This Term
2 (Unqualified (Unqualified (Unqualified
GL Name (2023/03)
Opinion) Opinion) Opinion)
3 Amount Amount Amount Amount Legends Do not delete Columns
4 Sales Revenue 1,980.30 1,707.08 1,581.51 1,390.51 0 Pre-Populated Field Net Revenue
5 Cost Of Goods Sold 1,266.83 1,145.24 1,029.00 888.72 0 Pre-Populated Field Cost of Materials Consumed Purchases of Stock0in0trade Changes in Inventories / Finished Goods
6 Gross Profit On Sales 713.47 561.84 552.51 501.79 0 Pre-Populated Field
7 Selling And Administrative Expenses 567.71 442.50 454.05 400.77 Input Field
8 Salaries 97.49 87.48 75.89 74.72 Employee Benefit Expense
9 Depreciation And Amortization 46.78 48.49 45.26 38.10 Depreciation and Amortization Expense
10 Bad Debt Expenses 9.16 0.25 0.23 0.20
11 Advertising Expense 19.91 19.37 14.03 6.19
12 Lease Payments
13 S&A-Others 394.37 286.91 318.64 281.56 Other Expenses
14 Income From Operations 145.76 119.34 98.46 101.02
15 Other Revenues And Gains(Non-Operating Revenue) 5.32 4.01 4.02 1.97
16 Interest Revenue 3.47 2.64 2.01 0.76
17 Dividend Income 0
18 Income From Associates(Under Using Equity Method) 0
19 Gain on disposition of tangible, intangible, & other fixed assets 0.26 0.24 1.22 1.00
20 NOG-Others 1.59 1.13 0.79 0.21 Other Income
21 Other Expenses And Losses(Non-Operating Expense) 104.01 93.00 72.36 84.76
22 Finance Costs 104.01 93.00 72.36 84.76 Finance Costs
23 Loss From Associates(Under Using Equity Method)
24 Loss on disposition of tangible, intangible, & other fixed assets
25 NOL-Others
26 Ordinary Profit Or Loss 47.07 30.35 30.12 18.23
27 Tax Expense 14.37 1.74 9.04 -23.26 Income Tax
28 Profit After Tax 32.70 28.61 21.08 41.49
29 Minority Interest
30 Net Profit Or Loss From Ordinary Activities 32.70 28.61 21.08 41.49
31 Extraordinary Items(Unusual And Infrequent Items)
32 Other Items
33 Net Profit Or Loss For The Period 32.70 28.61 21.08 41.49
34 Dividends
35 Sales Revenue tendency
 Total Total Total
Contribute
Base Year Assets Equity TOL Debt Revenue
d Capital
(TA) (TE) (TD)
2023.03 2,223 768 10 1,455 494 1,980
2022.03 2,087 736 10 1,352 575 1,707
2021.03 1,919 708 10 1,211 448 1,582
2020.03 1,713 688 10 1,026 433 1,391

Consolidated

Contribu
Total Total
Year Sales EBIDTA NP ted
Assets Equity
Capital

2023.03 1,980 193 36 2,223 10 767

2022.03 1,707 168 25 2,084 10 732

2021.03 1,582 144 21 1,919 10 708

2020.03 1,391 139 41 1,713 10 687

Standalone

Operating Cycle
Mar-23 Mar-22 Mar-21

Account Receivable 4.98x 3.77x 3.38x

Turnover (A)
Account Receivable 73 97 108
Period (in days) (B)
= 365/(A)
Inventory Turnover 2.33x 2.46x 2.89x
(C)
Inventory Turnover 157 148 126
Period (in days) (D)
= 365/( C)
Account Payable 3.26x 2.66x 3.07x
Turnover (E)
Account Payable 112 137 119
Period (in days) (F)
= 365/ ( E)
Operating Cycle 118 108 115
(G) = (B) + (D) – (F)

Particulars Mar-23 Mar-22 Mar-21 Mar-20

Fixed Assets
- Land 67 67 67 68
- Building 190 168 175 178
- Machinery 328 315 316 315
- Others 118 120 110 27
Total Fixed Assets 703 670 668 589
(A)

Intangible Assets (B) 1 1 1 1

Grand Total (A + B) 704 671 669 590

Particulars Mar-23 Mar-22 Mar-21 Mar-20

WC Current Assets
- Receivables 360 434 472 465
- Inventory 913 786 601 492
- Payables 588 626 657 374
Net WC 685 594 416 583
Cash & Cash Eqv.
- Cash and cash 31 39 26 13
equivalents
- Short term - - - -
investments
Total Cash & Cash 31 39 26 13
Eqv.

Debt
- Long Term 201 219 265 169
- Short Term 293 356 183 265
Total Debt 494 575 448 433
 Standalone

Net OCF
Operating Base Receivable
EBITDA Income after Inventory
Income Year s
(Loss) Interest
146 193 33 2023.03 360 913
119 168 29 2022.03 434 786
98 144 21 2021.03 472 601
101 139 41 2020.03 465 492

Interim results

Total Base
TL / TE TB / TE Sales Net Profit
Borrowings Year

Input Input
484 1.90 0.63 Q4
Manually Manually
Input Input
567 1.85 0.77 Q3
Manually Manually
Input Input
439 1.71 0.62 Q2
Manually Manually
Input Input
426 1.49 0.62 Q1
Manually Manually

Assessment of the proposed DFL facility is cap

Particulars

A Sales Revenue FY2023 (Audited)

B 50% of Sales FY2023 (A*50%)

Sales Revenue of last 6 months or 2 times of tot

C
revenue of last 3 months, of FY2024

D Limit Available (Lower of B or C)

E Limit proposed
 Other Other Investment in Total Cash and
Payables Current Current Group Fixed Assets Cash
assets Liabilities Companies (incl.CWIP) Equivalent
588 152 224 Input Manually 703 31
626 125 102 Input Manually 670 39
657 143 62 Input Manually 668 26
374 93 188 Input Manually 589 13

Interim results

Total Receivable
Inventory Payables
Debt s

Input Input Input

Input Manually
Manually Manually Manually
Input Input Input
Input Manually
Manually Manually Manually
Input Input Input
Input Manually
Manually Manually Manually
Input Input Input
Input Manually
Manually Manually Manually

e proposed DFL facility is captured below:

Amount
Particulars
(in crores)

FY2023 (Audited) 1,980.30

2023 (A*50%) 990.15

of last 6 months or 2 times of total

#VALUE!
3 months, of FY2024

Lower of B or C) #VALUE!

d -

Limit valid #VALUE!

 A B C D E F G H I J K L
1 BALANCE SHEET 0 AOC04 (Rs. Crore) 31 Mar, 2014 31 Mar, 2015 31 Mar, 2016 31 Mar, 2017 31 Mar, 2018 31 Mar, 2019 31 Mar, 2020 31 Mar, 2021 31 Mar, 2022 31 Mar, 2023
2 Equity and Liabilities
3 Equity
4 Share Capital 10.23 10.23 10.23 10.23 10.26 10.27 10.27 10.27 10.27 10.27
5 Reserves and Surplus 220.94 293.63 371.29 521.89 627.02 638.36 677.31 697.52 725.25 757.69
6 Other Equity 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
7 Total Equity 231.18 303.87 381.52 532.12 637.27 648.62 687.58 707.78 735.52 767.96
8 Liabilities
9 Non0current Liabilities
10 Long Term Borrowings 230.68 170.69 198.32 175.37 166.66 164.00 162.71 256.33 211.98 191.89
11 Net Deferred Tax Liabilities 21.78 26.47 31.48 62.56 53.85 56.32 28.86 32.29 37.88 44.39
12 Other Long Term Liabilities 0.97 0.00 0.00 0.17 0.62 1.52 1.32 14.01 12.09 107.77
13 Long Term Provisions 0.00 0.00 1.35 2.37 4.37 4.78 5.76 5.88 6.04 6.35
14 Total Non0current Liabilities 253.43 197.16 231.15 240.47 225.51 226.62 198.65 308.51 268.00 350.39
15 Current Liabilities
16 Short Term Borrowings 175.55 172.41 252.12 240.03 294.67 313.34 263.69 182.21 354.67 292.13
17 Trade Payables 156.26 241.50 212.38 289.19 490.32 351.38 374.39 657.33 626.43 588.12
18 Other Current Liabilities 62.57 127.73 93.77 88.57 78.19 112.70 185.98 50.49 93.68 219.50
19 Short Term Provisions 2.54 21.02 19.32 0.47 17.56 0.17 2.82 12.89 9.05 5.09
20 Total Current Liabilities 396.92 562.67 577.59 618.26 880.74 777.58 826.89 902.92 1,083.82 1,104.84
21 Total Equity and Liabilities 881.52 1,063.69 1,190.26 1,390.85 1,743.53 1,652.82 1,713.11 1,919.22 2,087.33 2,223.19
22
23 Assets
24 Net Fixed Assets
25 Tangible Assets 337.35 350.08 384.00 496.00 520.04 513.41 577.96 655.91 656.19 695.75
26 Intangible Assets 1.16 1.19 1.25 0.85 0.83 1.07 0.87 1.00 0.78 1.22
27 Total Net Fixed Assets 338.52 351.27 385.24 496.85 520.87 514.48 578.83 656.91 656.98 696.97
28 Capital Work0in0progress 8.29 3.47 39.95 14.36 1.58 8.45 10.70 11.64 13.95 7.14
29 Other Non0current Assets
30 Non0current Investments 0.00 0.00 0.00 0.00 0.00 8.94 9.52 9.64 10.60 10.60
31 Net Deferred Tax Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
32 Long Term Loans and Advances 0.00 0.00 2.18 16.41 3.82 0.22 61.75 19.82 18.10 45.54
33 Other Non0current Assets 2.11 3.06 0.00 0.00 0.00 2.25 1.56 5.09 2.57 6.01
34 Total Other Non0current Assets 2.11 3.06 2.18 16.41 3.82 11.41 72.82 34.55 31.27 62.15
35 Current Assets
36 Current Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
37 Inventories 229.01 228.24 249.99 368.18 562.27 534.75 492.33 601.49 786.06 913.20
38 Trade Receivables 231.82 375.78 372.37 372.20 516.44 499.09 465.23 471.84 434.40 360.22
39 Cash and Bank Balances 26.31 56.09 49.80 24.94 17.58 10.85 12.84 26.29 39.20 31.08
40 Short Term Loans and Advances 45.46 45.78 90.74 38.43 3.82 4.46 3.92 3.72 7.24 3.46
41 Other Current Assets - - - 59.48 117.16 69.32 76.44 112.78 118.22 148.97
42 Total Current Assets 532.60 705.90 762.89 863.23 1,217.27 1,118.48 1,050.76 1,216.12 1,385.13 1,456.94
43 Total Assets 881.52 1,063.69 1,190.26 1,390.85 1,743.53 1,652.82 1,713.11 1,919.22 2,087.33 2,223.19
44
45 PROFIT & LOSS 0 AOC04 (Rs. Crore) 31 Mar, 2014 31 Mar, 2015 31 Mar, 2016 31 Mar, 2017 31 Mar, 2018 31 Mar, 2019 31 Mar, 2020 31 Mar, 2021 31 Mar, 2022 31 Mar, 2023
46 Net Revenue 1,040.47 1,314.73 1,506.22 1,797.17 2,107.62 1,870.87 1,390.51 1,581.51 1,707.08 1,980.30
47 Operating Cost
48 Cost of Materials Consumed 786.98 855.09 953.81 1,172.95 1,468.82 1,254.54 845.13 1,077.74 1,200.94 1,355.27
49 Purchases of Stock0in0trade - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
50 Changes in Inventories / Finished Goods -26.94 24.65 -5.31 -82.15 -144.23 9.49 43.59 -48.74 -55.70 -88.44
51 Employee Benefit Expense 24.15 34.10 50.00 74.47 93.40 81.69 74.72 75.89 87.48 97.49
52 Other Expenses 146.06 185.74 288.48 359.69 387.08 344.07 287.95 332.90 306.53 423.44
53 Total Operating Cost 930.26 1,099.57 1,286.97 1,524.97 1,805.07 1,689.79 1,251.38 1,437.80 1,539.25 1,787.75
54 Operating Profit ( EBITDA ) 110.21 215.16 219.25 272.20 302.55 181.08 139.13 143.71 167.83 192.55
55 Other Income 2.13 1.66 5.17 3.16 2.19 1.37 1.97 4.02 4.01 5.32
56 Depreciation and Amortization Expense 15.08 21.99 24.12 31.57 45.91 37.87 38.10 45.26 48.49 46.78
57 Profit Before Interest and Tax 97.26 194.83 200.30 243.80 258.83 144.58 102.99 102.48 123.35 151.09
58 Finance Costs 60.54 58.26 57.00 67.08 78.45 101.59 84.76 72.36 93.00 104.01
59 Profit Before Tax and Exceptional Items Before Tax 36.72 136.57 143.30 176.72 180.39 42.98 18.23 30.12 30.35 47.08
60 Exceptional Items Before Tax - - 0.00 - - - - - - -
61 Profit Before Tax 36.72 136.57 143.30 176.72 180.39 42.98 18.23 30.12 30.35 47.08
62 Income Tax 9.81 47.40 48.17 52.51 62.63 11.77 -23.26 9.04 1.74 14.37
63 Profit for the Period from Continuing Operations 26.91 89.17 95.13 124.22 117.76 31.21 41.49 21.08 28.61 32.71
64 Profit from Discontinuing Operations After Tax 0.00 0.00 0.00 0.00 0.00 - - - - -
65 Profit for the Period 26.91 89.17 95.13 124.22 117.76 31.21 41.49 21.08 28.61 32.71
66
67 PROFIT & LOSS 0 KEY SCHEDULE (Rs. Crore) 31 Mar, 2014 31 Mar, 2015 31 Mar, 2016 31 Mar, 2017 31 Mar, 2018 31 Mar, 2019 31 Mar, 2020 31 Mar, 2021 31 Mar, 2022 31 Mar, 2023
68 Managerial Remuneration 3.24 3.63 7.59 0.00 0.00 0.00 0.00 0.00 0.00 0.00
69 Payment to Auditors 0.04 0.11 0.15 0.16 0.26 0.25 0.24 0.25 0.25 0.24
70 Insurance Expenses 0.69 0.48 1.37 2.65 1.87 1.62 2.38 2.64 2.08 1.44
71 Power and Fuel 51.94 52.67 45.57 58.34 61.78 60.85 45.75 41.34 51.79 75.12
72
73 CASH FLOW 0 AOC04 (Rs. Crore) 31 Mar, 2014 31 Mar, 2015 31 Mar, 2016 31 Mar, 2017 31 Mar, 2018 31 Mar, 2019 31 Mar, 2020 31 Mar, 2021 31 Mar, 2022 31 Mar, 2023
74 Cash Flows from / ( Used in ) Operating Activities
75 Profit Before Tax 36.72 136.57 143.30 176.72 180.39 42.98 18.23 30.12 30.35 47.08
76 Adjustment for Finance Cost and Depreciation 75.62 80.25 81.12 98.64 124.35 139.46 122.86 117.62 141.50 150.79
77 Adjustments for Current and Non0Current Assets -51.24 -154.71 -78.83 -92.38 -400.59 92.01 8.53 -179.87 -163.38 -89.92
78 Adjustments for Current and Non0Current Liabilities 42.76 142.58 -37.62 64.06 182.86 -112.83 48.83 238.35 14.98 181.65
79 Other Adjustments in Operating Activities -3.12 -30.88 -43.61 -71.04 -6.56 -27.48 16.05 -25.86 -6.17 -5.40
80 Net Cash Flows from / ( Used in ) Operating Activities 100.73 173.82 64.35 176.01 80.45 134.14 214.50 180.35 17.28 284.19
81 Cash Flows from / ( Used in ) Investing Activities
82 Cash Outflow from Purchase of Assets 32.68 31.94 100.55 93.95 52.98 51.01 54.93 85.98 43.08 84.93
83 Cash Inflow from Sale of Assets 0.54 0.90 3.25 0.06 3.04 2.17 5.09 3.84 1.67 1.83
84 Income from Assets 0.25 0.35 6.14 3.03 1.38 1.34 0.71 0.92 1.60 1.85
85 Other Adjustments in Investing Activities 0.25 -0.95 0.00 11.71 6.68 6.56 -1.69 -18.41 -8.35 -16.69
86 Net Cash Flows from / ( Used in ) Investing Activities -31.64 -31.64 -91.16 -79.15 -41.88 -40.94 -50.82 -99.62 -48.17 -97.94
87 Cash Flows from / ( Used in ) Financing Activities
88 Cash Outflow from Repayment of Capital and Borrowings 117.38 126.66 57.35 113.81 48.55 35.93 74.99 64.56 99.11 91.32
89 Cash Inflow from Raising Capital and Borrowings 99.31 70.03 73.15 97.88 54.42 45.00 53.07 200.09 61.78 60.87
90 Interest and Dividends Paid 61.36 59.39 72.52 84.29 98.35 121.58 85.54 78.98 93.16 103.80
91 Other Adjustments in Financing Activities - 0.00 69.53 -9.81 53.24 19.13 -55.95 -137.23 161.54 -51.00
92 Net Cash
Increase / ( Flows from) in
Decrease / ( Cash
Used and
in ) Financing Activities
Cash Equivalents Before -79.43 -116.03 12.82 -110.03 -39.24 -93.38 -163.41 -80.68 31.05 -185.26
93 Effect of Exchange Rate Changes -10.33 26.15 -13.99 -13.16 -0.68 -0.17 0.28 0.05 0.17 1.00
94 Adjustments to Cash and Cash Equivalents - - - - - - - - - -
95 Net Increase / ( Decrease ) in Cash and Cash Equivalents -10.33 26.15 -13.99 -13.16 -0.68 -0.17 0.28 0.05 0.17 1.00
96 Cash and Cash Equivalents at End of Period 2.49 28.64 14.65 1.48 0.80 0.63 0.91 0.95 1.12 2.11
97
98 RATIOS 0 AOC04 31 Mar, 2014 31 Mar, 2015 31 Mar, 2016 31 Mar, 2017 31 Mar, 2018 31 Mar, 2019 31 Mar, 2020 31 Mar, 2021 31 Mar, 2022 31 Mar, 2023
99 Revenue Growth (%) 15.6 26.4 14.6 19.3 17.3 -11.2 -25.7 13.7 7.9 16.0
100 Gross Profit Margin (%) - - - - - - - - - -
101 EBITDA Margin (%) 10.6 16.4 14.6 15.2 14.3 9.7 10.0 9.1 9.8 9.7
102 Net Margin (%) 2.6 6.8 6.3 6.9 5.6 1.7 3.0 1.3 1.7 1.6
103 Return on Equity (%) 11.6 29.4 24.9 23.3 18.5 4.8 6.0 3.0 3.9 4.3
104 Return on Capital Employed (%) 15.3 30.1 24.1 25.7 23.6 12.8 9.2 8.9 9.5 12.1
 A B C D E F G H I J K L
1 BALANCE SHEET 0 AOC04 (Rs. Crore) 31 Mar, 2014 31 Mar, 2015 31 Mar, 2016 31 Mar, 2017 31 Mar, 2018 31 Mar, 2019 31 Mar, 2020 31 Mar, 2021 31 Mar, 2022 31 Mar, 2023
105 Debt Ratio 0.5 0.3 0.4 0.3 0.3 0.3 0.2 0.2 0.3 0.2
106 Debt / Equity 1.8 1.1 1.2 0.8 0.7 0.7 0.6 0.6 0.8 0.6
107 Interest Coverage Ratio 1.6 3.3 3.5 3.6 3.3 1.4 1.2 1.4 1.3 1.4
108 Current Ratio 1.3 1.2 1.3 1.4 1.4 1.4 1.3 1.4 1.3 1.3
109 Quick Ratio 0.8 0.8 0.9 0.8 0.7 0.8 0.7 0.7 0.6 0.5
110 Inventory / Sales (Days) 80 63 61 75 97 104 129 139 168 168
111 Debtors / Sales (Days) 81 104 90 76 89 97 122 109 93 66
112 Payables / Sales (Days) 55 67 51 59 85 69 98 152 134 108
113 Cash Conversion Cycle (Days) 107 101 99 92 102 133 153 96 127 126
114 Sales / Net Fixed Assets 3.1 3.7 3.9 3.6 4.0 3.6 2.4 2.4 2.6 2.8
 A B C D E F G H I J K L
1 BALANCE SHEET 0 AOC04 (Rs. Crore) 31 Mar, 2014 31 Mar, 2015 31 Mar, 2016 31 Mar, 2017 31 Mar, 2018 31 Mar, 2019 31 Mar, 2020 31 Mar, 2021 31 Mar, 2022 31 Mar, 2023
2 Equity and Liabilities
3 Equity
4 Share Capital 10.27 10.27 10.27 10.27 10.27
5 Reserves and Surplus 638.34 677.02 697.57 721.86 757.15
6 Other Equity 0.00 0.00 0.00 0.00 0.00
7 Total Equity 648.61 687.28 707.84 732.13 767.41
8 Liabilities
9 Non0current Liabilities
10 Long Term Borrowings 164.00 162.71 256.33 211.98 191.89
11 Net Deferred Tax Liabilities 56.32 28.86 32.29 37.88 44.39
12 Other Long Term Liabilities 40.16 1.32 14.01 12.09 107.77
13 Long Term Provisions 4.78 5.76 5.88 6.04 6.35
14 Total Non0current Liabilities 265.26 198.65 308.51 268.00 350.39
15 Current Liabilities
16 Short Term Borrowings 313.34 263.69 182.21 354.67 292.13
17 Trade Payables 351.38 374.39 657.33 626.43 588.12
18 Other Current Liabilities 74.05 185.98 50.49 93.68 219.50
19 Short Term Provisions 0.17 2.82 12.89 9.05 5.09
20 Total Current Liabilities 738.93 826.89 902.92 1,083.82 1,104.84
21 Total Equity and Liabilities 1,652.80 1,712.82 1,919.27 2,083.95 2,222.64
22
23 Assets
24 Net Fixed Assets
25 Tangible Assets 513.41 577.96 655.91 656.19 695.75
26 Intangible Assets 1.07 0.87 1.00 0.78 1.22
27 Total Net Fixed Assets 514.48 578.83 656.91 656.98 696.97
28 Capital Work0in0progress 8.45 10.70 11.64 13.95 7.14
29 Other Non0current Assets
30 Non0current Investments 8.93 9.22 9.70 7.22 10.06
31 Net Deferred Tax Assets 0.00 0.00 0.00 0.00 0.00
32 Long Term Loans and Advances 0.22 61.75 19.82 18.10 45.54
33 Other Non0current Assets 2.25 1.56 5.09 2.57 6.01
34 Total Other Non0current Assets 11.40 72.53 34.61 27.88 61.60
35 Current Assets
36 Current Investments 0.00 0.00 0.00 0.00 0.00
37 Inventories 534.75 492.33 601.49 786.06 913.20
38 Trade Receivables 494.29 465.23 471.84 434.40 360.22
39 Cash and Bank Balances 10.85 12.84 26.29 39.20 31.08
40 Short Term Loans and Advances 4.46 3.92 3.72 7.24 3.46
41 Other Current Assets 74.12 76.44 112.78 118.22 148.97
42 Total Current Assets 1,118.48 1,050.76 1,216.12 1,385.13 1,456.94
43 Total Assets 1,652.80 1,712.82 1,919.27 2,083.95 2,222.64
44
45 PROFIT & LOSS 0 AOC04 (Rs. Crore) 31 Mar, 2019 31 Mar, 2020 31 Mar, 2021 31 Mar, 2022 31 Mar, 2023
46 Net Revenue 1,870.87 1,390.51 1,581.51 1,707.08 1,980.30
47 Operating Cost
48 Cost of Materials Consumed 1,254.54 845.13 1,077.74 1,200.94 1,355.27
49 Purchases of Stock0in0trade 0.00 0.00 0.00 0.00 0.00
50 Changes in Inventories / Finished Goods 9.49 43.59 -48.74 -55.70 -88.44
51 Employee Benefit Expense 81.69 74.72 75.89 87.48 97.49
52 Other Expenses 344.07 287.95 332.90 306.53 423.44
53 Total Operating Cost 1,689.79 1,251.38 1,437.80 1,539.25 1,787.75
54 Operating Profit ( EBITDA ) 181.08 139.13 143.71 167.83 192.55
55 Other Income 1.37 1.97 4.02 4.01 5.32
56 Depreciation and Amortization Expense 37.87 38.10 45.26 48.49 46.78
57 Profit Before Interest and Tax 144.58 102.99 102.48 123.35 151.09
58 Finance Costs 101.59 84.76 72.36 93.00 104.01
59 Profit Before Tax and Exceptional Items Before Tax 42.98 18.23 30.12 30.35 47.08
60 Exceptional Items Before Tax -0.02 - - - -
61 Profit Before Tax 42.97 18.23 30.12 30.35 47.08
62 Income Tax 11.77 -23.26 9.04 1.74 14.37
63 Profit for the Period from Continuing Operations 31.20 41.49 21.08 28.61 32.71
64 Profit from Discontinuing Operations After Tax - - - - -
65 Minority Interest and Profit from Associates and Joint Ventures - -0.24 0.35 -3.46 2.86
66 Profit for the Period 31.20 41.26 21.43 25.15 35.57
67
68 PROFIT & LOSS 0 KEY SCHEDULE (Rs. Crore) 31 Mar, 2019 31 Mar, 2020 31 Mar, 2021 31 Mar, 2022 31 Mar, 2023
69 Managerial Remuneration 0 0 0 0 0
70 Payment to Auditors 0.25 0.24 0.25 0.24 0.24
71 Insurance Expenses 1.62 2.38 2.64 2.08 1.44
72 Power and Fuel 60.85 45.75 41.34 51.79 75.12
73
74 CASH FLOW 0 AOC04 (Rs. Crore) 31 Mar, 2019 31 Mar, 2020 31 Mar, 2021 31 Mar, 2022 31 Mar, 2023
75 Cash Flows from / ( Used in ) Operating Activities
76 Profit Before Tax 42.97 18.23 30.12 30.35 47.08
77 Adjustment for Finance Cost and Depreciation 139.46 122.86 117.62 141.50 150.79
78 Adjustments for Current and Non0Current Assets 92.01 8.53 -179.87 -163.38 -89.92
79 Adjustments for Current and Non0Current Liabilities -112.83 48.83 238.35 14.98 181.65
80 Other Adjustments in Operating Activities -27.47 16.05 -25.86 -6.17 -5.40
81 Net Cash Flows from / ( Used in ) Operating Activities 134.14 214.50 180.35 17.28 284.19
82 Cash Flows from / ( Used in ) Investing Activities
83 Cash Outflow from Purchase of Assets 51.01 54.93 85.98 43.08 84.93
84 Cash Inflow from Sale of Assets 2.17 5.09 3.84 1.67 1.83
85 Income from Assets 1.34 0.71 0.92 1.60 1.85
86 Other Adjustments in Investing Activities 6.56 -1.69 -18.41 -8.35 -16.69
87 Net Cash Flows from / ( Used in ) Investing Activities -40.94 -50.82 -99.62 -48.17 -97.94
88 Cash Flows from / ( Used in ) Financing Activities
89 Cash Outflow from Repayment of Capital and Borrowings 35.93 74.99 64.56 99.11 91.32
90 Cash Inflow from Raising Capital and Borrowings 45.00 53.07 200.09 61.78 60.87
91 Interest and Dividends Paid 121.58 85.54 78.98 93.16 103.80
92 Other Adjustments in Financing Activities 19.13 -55.95 -137.23 161.54 -51.00
93 Net Cash
Increase / ( Flows from) in
Decrease / ( Cash
Used and
in ) Financing Activities
Cash Equivalents Before -93.38 -163.41 -80.68 31.05 -185.26
94 Effect of Exchange Rate Changes -0.17 0.28 0.05 0.17 1.00
95 Adjustments to Cash and Cash Equivalents - - - - -
96 Net Increase / ( Decrease ) in Cash and Cash Equivalents -0.17 0.28 0.05 0.17 1.00
97 Cash and Cash Equivalents at End of Period 0.63 0.91 0.95 1.12 2.11
98
99 RATIOS 0 AOC04 31 Mar, 2019 31 Mar, 2020 31 Mar, 2021 31 Mar, 2022 31 Mar, 2023
100 Revenue Growth (%) - -25.7 13.7 7.9 16
101 Gross Profit Margin (%) - - - - -
102 EBITDA Margin (%) 9.7 10.0 9.1 9.8 9.7
103 Net Margin (%) 1.7 3.0 1.4 1.5 1.8
104 Return on Equity (%) 4.8 6.0 3.0 3.4 4.6
 A B C D E F G H I J K L
1 BALANCE SHEET 0 AOC04 (Rs. Crore) 31 Mar, 2014 31 Mar, 2015 31 Mar, 2016 31 Mar, 2017 31 Mar, 2018 31 Mar, 2019 31 Mar, 2020 31 Mar, 2021 31 Mar, 2022 31 Mar, 2023
105 Return on Capital Employed (%) 12.8 9.2 8.9 9.5 12.1
106 Debt Ratio 0.3 0.2 0.2 0.3 0.2
107 Debt / Equity 0.7 0.6 0.6 0.8 0.6
108 Interest Coverage Ratio 1.4 1.2 1.4 1.3 1.4
109 Current Ratio 1.5 1.3 1.4 1.3 1.3
110 Quick Ratio 0.8 0.7 0.7 0.6 0.5
111 Inventory / Sales (Days) 104.0 129.0 139.0 168.0 168.0
112 Debtors / Sales (Days) 96 122 109 93 66
113 Payables / Sales (Days) 69 98 152 134 108
114 Cash Conversion Cycle (Days) 132 153 96 127 126
115 Sales / Net Fixed Assets 4 2 2 3 3