Historical Financials- TATA MOTORS LTD

Years Mar-16 Mar-17 Mar-18 Mar-19

# Imcome Statement
Sales: ₹ 273,045.60 ₹ 269,692.51 ₹ 291,550.48 ₹ 301,938.40
Sales Growth (-1.23%) 8.10% 3.56%

COGS: ₹ 234,650.35 ₹ 240,103.82 ₹ 260,092.80 ₹ 277,274.07

COGS % Of Sales 85.94% 89.03% 89.21% 91.83%

Operating Profit/EBITDA ₹ 38,395.25 ₹ 29,588.69 ₹ 31,457.68 ₹ 24,664.33

EBITDA % 14.06% 10.97% 10.79% 8.17%
EBITDA Growth % (-22.94%) 6.32% (-21.60%)

Other Income (₹ -2,669.62) ₹ 1,869.10 ₹ 5,932.73 (₹ -26,686.25)

Depreciation & Ammotisation: ₹ 16,710.78 ₹ 17,904.99 ₹ 21,553.59 ₹ 23,590.63

EBIT or PBIT ₹ 19,014.85 ₹ 13,552.80 ₹ 15,836.82 (₹ -25,612.55)

EBIT % Of Sales 6.96% 5.03% 5.43% (-8.48%)

Interest Expenses: ₹ 4,889.08 ₹ 4,238.01 ₹ 4,681.79 ₹ 5,758.60

Interest % Of Sales 1.79% 1.57% 1.61% 1.91%

Profit Before Tax ₹ 14,125.77 ₹ 9,314.79 ₹ 11,155.03 (₹ -31,371.15)

PBT % 5.17% 3.45% 3.83% (-10.39%)

Tax ₹ 3,025.05 ₹ 3,251.23 ₹ 4,341.93 (₹ -2,437.45)

Effective Tax Rate 21.42% 34.90% 38.92% 7.77%

Net Profit ₹ 11,579.31 ₹ 7,454.36 ₹ 8,988.91 (₹ -28,826.23)

Net Profit Margin % 4.24% 2.76% 3.08% (-9.55%)

No of Equity Shares 288.72 288.73 288.73 288.73

Earnings per Share ₹ 40.11 ₹ 25.82 ₹ 31.13 ₹ -99.84

Dividend Per Share ₹ 0.24 - - -

Dividend Payout Ratio % 0.59% - - -

Retained Earnings ₹ 11,511.39 ₹ 7,454.36 ₹ 8,988.91 (₹ -28,826.23)

Retained Earnings % 99.41% 100.00% 100.00% -

Price ₹ 386.60 ₹ 465.85 ₹ 326.85 ₹ 174.25

P/E Ratio 9.64 18.04 10.50 -1.75
# Balance Sheet
Equity Share Capital ₹ 679.18 ₹ 679.22 ₹ 679.22 ₹ 679.22
 Reserves ₹ 78,273.23 ₹ 57,382.67 ₹ 94,748.69 ₹ 59,500.34

Borrowings ₹ 69,359.96 ₹ 78,603.98 ₹ 88,950.47 ₹ 106,175.34

Other Liabilities ₹ 114,871.75 ₹ 135,914.49 ₹ 142,813.43 ₹ 139,348.59

Total Liabilities ₹ 263,184.12 ₹ 272,580.36 ₹ 327,191.81 ₹ 305,703.49

Fixed Assets Net Block ₹ 107,231.76 ₹ 95,944.08 ₹ 121,413.86 ₹ 111,234.47

Fixed Asset turnover 2.55 2.81 2.40 2.71

Capital Work in Progress ₹ 25,918.94 ₹ 33,698.84 ₹ 40,033.50 ₹ 31,883.84

Investments ₹ 23,767.02 ₹ 20,337.92 ₹ 20,812.75 ₹ 15,770.72

Other Assets ₹ 29,579.36 ₹ 37,360.78 ₹ 48,286.86 ₹ 56,155.74

Total Non Current Assets ₹ 186,499.63 ₹ 187,344.43 ₹ 230,549.37 ₹ 215,047.48

Receivables ₹ 13,570.91 ₹ 14,075.55 ₹ 19,893.30 ₹ 18,996.17

Inventory ₹ 32,655.73 ₹ 35,085.31 ₹ 42,137.63 ₹ 39,013.73

Cash & Bank ₹ 30,460.40 ₹ 36,077.88 ₹ 34,613.91 ₹ 32,648.82

Total Current Assets ₹ 76,687.04 ₹ 85,238.74 ₹ 96,644.84 ₹ 90,658.72
Current Asset Turnover 3.56 3.16 3.02 3.33
Total Assets ₹ 263,186.67 ₹ 272,583.17 ₹ 327,194.21 ₹ 305,706.20

# Cash Flow Statement

Cash from Operating Activity ₹ 37,899.54 ₹ 30,199.25 ₹ 23,857.42 ₹ 18,890.75
Cash from Investing Activity ₹ -36,693.90 ₹ -39,571.40 ₹ -25,139.14 ₹ -20,878.07
Cash from Financing Activity ₹ -3,795.12 ₹ 6,205.30 ₹ 2,011.71 ₹ 8,830.37
Net Cash Flow (₹ -2,589.48) (₹ -3,166.85) ₹ 729.99 ₹ 6,843.05
ancials- TATA MOTORS LTD
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Trend

₹ 261,067.97 ₹ 249,794.75 ₹ 278,453.62 ₹ 345,966.97 ₹ 434,016.00 ₹ 439,695.00

(-13.54%) (-4.32%) 11.47% 24.25% 25.45% 1.31%

₹ 243,080.90 ₹ 217,507.32 ₹ 253,733.53 ₹ 314,151.17 ₹ 376,192.00 ₹ 384,479.00

93.11% 87.07% 91.12% 90.80% 86.68% 87.44%

₹ 17,987.07 ₹ 32,287.43 ₹ 24,720.09 ₹ 31,815.80 ₹ 57,824.00 ₹ 55,216.00

6.89% 12.93% 8.88% 9.20% 13.32% 12.56%
(-27.07%) 79.50% (-23.44%) 28.70% 81.75% (-4.51%)

₹ 101.71 (₹ -11,117.83) ₹ 2,424.05 ₹ 6,663.97 ₹ 4,792.00 ₹ 11,774.00

₹ 21,425.43 ₹ 23,546.71 ₹ 24,835.69 ₹ 24,860.36 ₹ 27,239.00 ₹ 23,256.00

(₹ -3,336.65) (₹ -2,377.11) ₹ 2,308.45 ₹ 13,619.41 ₹ 35,377.00 ₹ 43,734.00

(-1.28%) (-0.95%) 0.83% 3.94% 8.15% 9.95%

₹ 7,243.33 ₹ 8,097.17 ₹ 9,311.86 ₹ 10,225.48 ₹ 7,594.00 ₹ 5,083.00

2.77% 3.24% 3.34% 2.96% 1.75% 1.16%

(₹ -10,579.98) (₹ -10,474.28) (₹ -7,003.41) ₹ 3,393.93 ₹ 27,783.00 ₹ 38,651.00

(-4.05%) (-4.19%) (-2.52%) 0.98% 6.40% 8.79%

₹ 395.25 ₹ 2,541.86 ₹ 4,231.29 ₹ 704.06 (₹ -4,024.00) ₹ 10,502.00

(-3.74%) (-24.27%) (-60.42%) 20.74% (-14.48%) 27.17%

(₹ -12,070.85) (₹ -13,451.39) (₹ -11,441.47) ₹ 2,414.29 ₹ 31,399.00 ₹ 27,830.00

(-4.62%) (-5.38%) (-4.11%) 0.70% 7.23% 6.33%

308.9 332.03 332.07 332.13 332.37 368.13

₹ -39.08 ₹ -40.51 ₹ -34.45 ₹ 7.27 ₹ 94.47 ₹ 75.60

- - - ₹ 2.31 ₹ 6.92 ₹ 6.00

- - - 31.73% 7.33% 7.93%

(₹ -12,070.85) (₹ -13,451.39) (₹ -11,441.47) ₹ 1,648.27 ₹ 29,098.00 ₹ 25,622.00

- - - 68.27% 92.67% 92.07%

₹ 71.05 ₹ 301.80 ₹ 433.75 ₹ 420.80 ₹ 992.80 ₹ 674.45

-1.82 -7.45 -12.59 57.89 10.51 8.92

₹ 719.54 ₹ 765.81 ₹ 765.88 ₹ 766.02 ₹ 767.00 ₹ 736.00

 ₹ 62,358.99 ₹ 54,480.91 ₹ 43,795.36 ₹ 44,555.77 ₹ 84,151.00 ₹ 115,408.00

₹ 124,787.64 ₹ 142,130.57 ₹ 146,449.03 ₹ 134,113.44 ₹ 107,264.00 ₹ 71,540.00

₹ 132,313.22 ₹ 144,192.62 ₹ 138,051.22 ₹ 155,239.20 ₹ 177,339.00 ₹ 189,289.00

₹ 320,179.39 ₹ 341,569.91 ₹ 329,061.49 ₹ 334,674.43 ₹ 369,521.00 ₹ 376,973.00

₹ 127,107.14 ₹ 138,707.61 ₹ 138,855.45 ₹ 132,079.76 ₹ 121,285.00 ₹ 115,697.00

2.05 1.80 2.01 2.62 3.58 3.80

₹ 35,622.29 ₹ 20,963.93 ₹ 10,251.09 ₹ 14,274.50 ₹ 35,698.00 ₹ 65,806.00

₹ 16,308.48 ₹ 24,620.28 ₹ 29,379.53 ₹ 26,379.16 ₹ 22,971.00 ₹ 35,656.00

₹ 58,784.94 ₹ 61,717.96 ₹ 62,223.77 ₹ 68,432.09 ₹ 79,020.00 ₹ 58,463.00

₹ 237,824.90 ₹ 246,011.58 ₹ 240,711.85 ₹ 241,168.13 ₹ 258,977.58 ₹ 275,625.80

₹ 11,172.69 ₹ 12,679.08 ₹ 12,442.12 ₹ 15,737.97 ₹ 16,952.00 ₹ 13,248.00

₹ 37,456.88 ₹ 36,088.59 ₹ 35,240.34 ₹ 40,755.39 ₹ 47,788.00 ₹ 47,269.00

₹ 33,726.97 ₹ 46,792.46 ₹ 40,669.19 ₹ 37,015.56 ₹ 45,807.00 ₹ 40,834.00

₹ 82,356.54 ₹ 95,560.13 ₹ 88,351.65 ₹ 93,508.92 ₹ 110,547.00 ₹ 101,351.00
3.17 2.61 3.15 3.70 3.93 4.34
₹ 320,181.44 ₹ 341,571.71 ₹ 329,063.50 ₹ 334,677.05 ₹ 369,524.58 ₹ 376,976.80

₹ 26,632.94 ₹ 29,000.51 ₹ 14,282.83 ₹ 35,388.01 ₹ 67,915.00 ₹ 63,102.00

₹ -33,114.55 ₹ -25,672.50 ₹ -4,443.66 ₹ -15,417.17 ₹ -22,781.00 ₹ -49,982.00
₹ 3,389.61 ₹ 9,904.20 ₹ -3,380.17 ₹ -26,242.90 ₹ -37,006.00 ₹ -18,786.00
(₹ -3,092.00) ₹ 13,232.21 ₹ 6,459.00 (₹ -6,272.06) ₹ 8,128.00 (₹ -5,666.00)
 TATA MOTORS LTD
# Financial Health
Year Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21
Debt to Equity 2.33 3.69 2.43 4.08 4.08 5.18
Debt to Asset Ratio 0.37 0.42 0.39 0.49 0.52 0.58
Current Ratio 0.64 0.60 0.64 0.61 0.58 0.61
Interest Coverage Ratio 6.76 7.86 9.25 -4.99 2.51 1.24
Debt Service Coverage Ratio 3.10 3.09 3.58 -1.97 1.03 0.50
Net Operational Cashflow to (Interest
+Current Portion of Long term Debt) 3.55 2.80 1.97 1.29 1.51 1.45

# Profitability
Year Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21
Gross Profit Margin 14.06% 10.97% 10.79% 8.17% 6.89% 12.93%
Expenses as % of Sales 85.94% 89.03% 89.21% 91.83% 93.11% 87.07%
Net Profit Margin 4.24% 2.76% 3.08% -9.55% -4.62% -5.38%
Total Asset Turnover 1.04 0.99 0.89 0.99 0.82 0.73
Return On Equity (ROE) 14.67% 12.84% 9.42% -47.90% -19.14% -24.35%
Return on Capital Employed or
5.68% 3.24% 2.96% -7.73% -1.08% -0.86%
Return on Investment (ROCE)
# Working Capital Management
Year Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21
Current Asset Turnover 3.56 3.33 3.02 3.33 3.17 2.61
Current Asset Holding Period 103 115 121 110 115 140
Inventory Turnover 7 7 6 7 6.49 6.03
Inventory Holding Period (Days) 51 53 59 51 56 61
Debtor's Turnover 20.12 19.51 17.17 15.53 17.31 20.95
Average Collection Period (Days) 18 19 21 24 21 17
Creditor's Turnover 1.45 1.28 1.32 1.39 1.25 1.07
Average Credit Availed (Days) 252 286 277 262 293 343
# Valuation
Year Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21
Book Value/Share 273.46 201.09 330.51 208.43 204.20 166.39
Net Fixed Assets/Share 371.40 332.30 420.51 385.25 411.48 417.76
Price to Book Value /Share 1.41 2.32 0.99 0.84 0.35 1.81
Price to Net Fixed Assets/Share 1.04 1.40 0.78 0.45 0.17 0.72
Price to Earning Raio 9.64 18.04 10.50 -1.75 -1.82 -7.45
Operational Leverage
Financial Leverage -1.70 -3.08
Overall Leverage or Business Risk 0.00 0.00
ncial Health
Mar-22 Mar-23 Mar-24 Mar-25 TREND
6.38 6.38 3.35 2.25
0.61 0.56 0.41 0.26
0.59 0.56 0.59 0.52
3.18 4.41 8.88 15.50
1.37 2.11 4.08 7.13

0.66 1.65 4.11 5.71

ofitability
Mar-22 Mar-23 Mar-24 Mar-25 TREND
8.88% 9.20% 13.32% 12.56%
91.12% 90.80% 86.68% 87.44%
-4.11% 0.70% 7.23% 6.33%
0.85 1.03 1.17 1.17
-25.68% 5.33% 36.98% 23.96%

1.13% 3.23% 10.96% 8.45%

apital Management
Mar-22 Mar-23 Mar-24 Mar-25 TREND
3.15 3.70 3.93 4.34
116 99 93 84
7.20 7.71 7.87 8.13
51 47 46 45
22.17 24.55 26.55 29.12
16 15 14 13
1.30 1.49 1.55 1.42
281 245 236 257
Valuation
Mar-22 Mar-23 Mar-24 Mar-25 TREND
134.19 136.46 255.49 315.50
418.15 397.67 364.91 314.28
3.23 3.08 3.89 2.14
1.04 1.06 2.72 2.15
-12.59 57.89 10.51 8.92

-3.53 9.37 2.08 1.43

0.00 0.00 0.00 0.00
# Year
1 2016 A
2 2017 A
3 2018 A
4 2019 A
5 2020 A
6 2021 A
7 2022 A
8 2023 A
9 2024 A
10 2025 A
11 2024 E
12 2025 E
13 2026 E
14 2027 E
15 2028 E
 TATA MOTORS LTD
Mar-16 Mar-17 Mar-18
Equity Share Capital 679.18 679.2 679.22
Reserves 78273.23 57382.67 94748.69
No. Of Equity Share 288.72 288.73 288.73
Change In Equity Capital 0.0% 0.0%
Equity Holder's Change In Reserve -27% 65%
Money Change In Equity Share 0% 0%
Ideal Share Price 273 201 331
Closing Current Price 387 466 327
29% 57% -1%
Trading Price
Discount

Long Term Debt 69360 78604 88950

Other Liability 114872 135914 142813
Interest 4889 4238 4682
Debt Chane In Long term Debt 13% 13%
Change In Other Liability 18% 5%
Change In Interest Burden -13% 10%
Debt Position

Working Fixed Assets (Net Block) 107231.76 95944.08 121413.86

Change In Fixed Assets -10.5% 26.5%
Fixed Assets % Of Debt 154% 121% 136%
Asset Position Capital Work in Progress 25918.94 33698.84 40033.5
Change In Working Capital Progress 30% 19%
% of Work Converted to Performing Assets
Change In Asset Position Improved

Sales 273045.6 269692.51 291550.48

COGS 234650.35 240103.82 260092.8
COGS % Of Sales 85.94% 89.03% 89.21%
Contribution 38395.25 29588.69 31457.68
External
Environment Contribution % 14.06% 10.97% 10.79%
Sales Growth % (Change In Demand) -1% 8%
Change In COGS % ( Change In Material Cost) 4% 0%
Change In Contribution -22% -2%
External Condition
MOTORS LTD
Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25
679.22 719.54 765.81 765.88 766.02 ₹ 767.00 ₹ 736.00
59500.34 62358.99 54480.91 43795.36 44555.77 ₹ 84,151.00 ###
288.73 308.9 332.03 332.07 332.13 332.37 368.13
0.0% 5.9% 6.4% 0.0% 0.0% 0.1% -4.0%
-37% 5% -13% -20% 2% 89% 37%
0% 7% 7% 0% 0% 0% 11%
208 204 166 134 136 255 315
174 71 302 434 421 993 674
-20% -187% 45% 69% 68% 74% 53%
Discount Discount

106175 124788 142131 146449 134113 107264 71540

139349 132313 144193 138051 155239 177339 189289
5759 7243 8097 9312 10225 7594 5083
19% 18% 14% 3% -8% -20% -33%
-2% -5% 9% -4% 12% 14% 7%
23% 26% 12% 15% 10% -26% -33%
Improving Improving

111234.47 127107.14 138707.61 138855.45 132079.76 ### ###

-8.4% 14.3% 9.1% 0.1% -4.9% -8.2% -4.6%
104% 101% 97% 94% 98% 112% 161%
31883.84 35622.29 20963.93 10251.09 14274.5 ₹ 35,698.00 ₹ 65,806.00
-20% 12% -41% -51% 39% 150% 84%
Converted Converted Converted
Improved

301938.4 261067.97 249794.75 278453.62 345966.97 ### ###

277274.07 243080.9 217507.32 253733.53 314151.17 ### ###
91.83% 93.11% 87.07% 91.12% 90.80% 86.68% 87.44%
24664.33 17987.07 32287.43 24720.09 31815.8 57824 55216
8.17% 6.89% 12.93% 8.88% 9.20% 13.32% 12.56%
4% -14% -4% 11% 24% 25% 1%
3% 1% -6% 5% 0% -5% 1%
-24% -16% 88% -31% 4% 45% -6%
Favourable Favourable
 DUPONT ANALYSIS
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
Net Profit -12,070.85 -13,451.39 -11,441.47 2,414.29 31,399.00
Revenue ### ### ### ### ###
Net Profit Margin (A) -4.62% -5.38% -4.11% 0.70% 7.23%
Average Total Asset ### ### ### ### ###
Average Total Asset Turnover Ratio (B) 0.83x 0.75x 0.83x 1.04x 1.23x
Average Share holders Equity 61,629.05 59,162.63 49,903.98 44,941.52 65,119.90
Financial Leverage( C ) 5.08x 5.59x 6.72x 7.38x 5.41x
Return on Assets (A*B) -3.86% -4.07% -3.41% 0.73% 8.92%
Return on Equity (A*B*C) -19.59% -22.74% -22.93% 5.37% 48.22%
Mar-25
27,830.00
439,695.00
6.33% Signifies Pricing Power
373,247.00
1.18x Signifies how much money it generates per one rupee of share holders fund
100,531.00
3.71x Signifies Debt position
7.46%
27.68%
COMPANY NAME TATA MOTORS LTD
LATEST VERSION 2.10 PLEAS
CURRENT VERSION 2.10

META
Number of shares 368.20
Face Value 2.00
Current Price 674.50
Market Capitalization 248,351.50

PROFIT & LOSS

Report Date Mar-16 Mar-17 Mar-18 Mar-19
Sales 273,045.60 269,692.51 291,550.48 301,938.40
Raw Material Cost 166,134.01 173,294.08 187,896.58 194,267.91
Change in Inventory 2,750.99 7,399.92 2,046.58 -2,053.28
Power and Fuel 1,143.63 1,159.82 1,308.08 1,585.93
Other Mfr. Exp 12,101.53 10,067.37 10,971.66 11,694.54
Employee Cost 28,880.89 28,332.89 30,300.09 33,243.87
Selling and admin 21,991.90 30,039.38 31,004.58 32,719.80
Other Expenses 7,149.38 4,610.20 658.39 1,708.74
Other Income -2,669.62 1,869.10 5,932.73 -26,686.25
Depreciation 16,710.78 17,904.99 21,553.59 23,590.63
Interest 4,889.08 4,238.01 4,681.79 5,758.60
Profit before tax 14,125.77 9,314.79 11,155.03 -31,371.15
Tax 3,025.05 3,251.23 4,341.93 -2,437.45
Net profit 11,579.31 7,454.36 8,988.91 -28,826.23
Dividend Amount 67.92

Quarters
Report Date Dec-22 Mar-23 Jun-23 Sep-23
Sales 88,488.59 105,932.35 102,236.00 105,129.00
Expenses 77,668.35 92,817.95 89,019.00 91,362.00
Other Income 1,129.98 1,452.86 895.00 1,557.00
Depreciation 6,071.78 7,050.20 6,633.00 6,637.00
Interest 2,675.83 2,641.67 2,615.00 2,652.00
Profit before tax 3,202.61 4,875.39 4,864.00 6,035.00
Tax 262.83 -620.65 1,563.00 2,203.00
Net profit 2,957.71 5,407.79 3,203.00 3,764.00
Operating Profit 10,820.24 13,114.40 13,217.00 13,767.00

BALANCE SHEET
Report Date Mar-16 Mar-17 Mar-18 Mar-19
Equity Share Capital 679.18 679.22 679.22 679.22
Reserves 78,273.23 57,382.67 94,748.69 59,500.34
Borrowings 69,359.96 78,603.98 88,950.47 106,175.34
Other Liabilities 114,871.75 135,914.49 142,813.43 139,348.59
Total 263,184.12 272,580.36 327,191.81 305,703.49
Net Block 107,231.76 95,944.08 121,413.86 111,234.47
Capital Work in Progress 25,918.94 33,698.84 40,033.50 31,883.84
Investments 23,767.02 20,337.92 20,812.75 15,770.72
Other Assets 106,266.40 122,599.52 144,931.70 146,814.46
Total 263,184.12 272,580.36 327,191.81 305,703.49
Receivables 13,570.91 14,075.55 19,893.30 18,996.17
Inventory 32,655.73 35,085.31 42,137.63 39,013.73
Cash & Bank 30,460.40 36,077.88 34,613.91 32,648.82
No. of Equity Shares ### ### ### ###
New Bonus Shares
Face value 2.00 2.00 2.00 2.00

CASH FLOW:
Report Date Mar-16 Mar-17 Mar-18 Mar-19
Cash from Operating Activity 37,899.54 30,199.25 23,857.42 18,890.75
Cash from Investing Activity -36,693.90 -39,571.40 -25,139.14 -20,878.07
Cash from Financing Activity -3,795.12 6,205.30 2,011.71 8,830.37
Net Cash Flow -2,589.48 -3,166.85 729.99 6,843.05

PRICE: 386.60 465.85 326.85 174.25

DERIVED:
Adjusted Equity Shares in Cr 288.72 288.73 288.73 288.73
 PLEASE DO NOT MAKE ANY CHANGES TO THIS SHEET

Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25

261,067.97 249,794.75 278,453.62 345,966.97 434,016.00 439,695.00
164,899.82 153,607.36 179,295.33 231,251.26 274,321.00 268,950.00
-2,231.19 -4,684.16 -1,590.49 4,781.62 1,566.00 -2,836.00
1,264.95 1,112.87 2,178.29 2,513.33 2,189.00 2,443.00
11,541.51 8,273.17 9,427.38 11,765.97 17,446.00 18,813.00
30,438.60 27,648.48 30,808.52 33,654.70 41,990.00 47,767.00
29,248.32 23,015.79 29,205.40 34,839.19 42,765.00 47,099.00
3,456.51 -834.51 1,228.12 4,908.34 -953.00 -3,429.00
101.71 -11,117.83 2,424.05 6,663.97 4,792.00 11,774.00
21,425.43 23,546.71 24,835.69 24,860.36 27,239.00 23,256.00
7,243.33 8,097.17 9,311.86 10,225.48 7,594.00 5,083.00
-10,579.98 -10,474.28 -7,003.41 3,393.93 27,783.00 38,651.00
395.25 2,541.86 4,231.29 704.06 -4,024.00 10,502.00
-12,070.85 -13,451.39 -11,441.47 2,414.29 31,399.00 27,830.00
766.02 2,301.00 2,208.00

Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25

110,577.00 119,033.00 108,048.00 101,450.00 112,608.00 119,503.00
95,159.00 102,348.00 92,263.00 89,291.00 100,185.00 102,685.00
1,604.00 1,412.00 1,747.00 1,647.00 1,700.00 1,057.00
6,850.00 7,143.00 6,574.00 6,005.00 5,399.00 5,295.00
2,485.00 1,645.00 2,088.00 2,034.00 1,119.00 1,076.00
7,687.00 9,309.00 8,870.00 5,767.00 7,605.00 11,504.00
542.00 -8,219.00 3,178.00 2,317.00 2,120.00 2,948.00
 7,025.00 17,407.00 5,566.00 3,343.00 5,406.00 8,470.00
15,418.00 16,685.00 15,785.00 12,159.00 12,423.00 16,818.00

Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25

719.54 765.81 765.88 766.02 767.00 736.00
62,358.99 54,480.91 43,795.36 44,555.77 84,151.00 115,408.00
124,787.64 142,130.57 146,449.03 134,113.44 107,264.00 71,540.00
132,313.22 144,192.62 138,051.22 155,239.20 177,339.00 189,289.00
320,179.39 341,569.91 329,061.49 334,674.43 369,521.00 376,973.00
127,107.14 138,707.61 138,855.45 132,079.76 121,285.00 115,697.00
35,622.29 20,963.93 10,251.09 14,274.50 35,698.00 65,806.00
16,308.48 24,620.28 29,379.53 26,379.16 22,971.00 35,656.00
141,141.48 157,278.09 150,575.42 161,941.01 189,567.00 159,814.00
320,179.39 341,569.91 329,061.49 334,674.43 369,521.00 376,973.00
11,172.69 12,679.08 12,442.12 15,737.97 16,952.00 13,248.00
37,456.88 36,088.59 35,240.34 40,755.39 47,788.00 47,269.00
33,726.97 46,792.46 40,669.19 37,015.56 45,807.00 40,834.00
### ### ### ### ### ###

2.00 2.00 2.00 2.00 2.00 2.00

Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25

26,632.94 29,000.51 14,282.83 35,388.01 67,915.00 63,102.00
-33,114.55 -25,672.50 -4,443.66 -15,417.17 -22,781.00 -49,982.00
3,389.61 9,904.20 -3,380.17 -26,242.90 -37,006.00 -18,786.00
-3,092.00 13,232.21 6,459.00 -6,272.06 8,128.00 -5,666.00

71.05 301.80 433.75 420.80 992.80 674.45

308.90 332.03 332.07 332.13 332.37 368.13