caSh flowS froM oPerating activitieS

Profit before taxation 17,532 12,592

Adjustments:
Depreciation and amortization expense 3,128 3,011
Provision for wealth tax 3 3
Dividend from mutual fund units - (2)
Stock compensation expense, net 421 403
Unrealised foreign exchange (gain) / loss, net 264 2,172
Profit on sale of current investments, net (212) (158)
Provision for decline in the value of non current investments, net of reversal 223 1,925
Dividend from subsidiaries and joint venture (28) Loss on sale of non current investments 6 Interest income (933) (614)
Finance costs 614 636
Loss on sale of fixed assets, net 9 33
Allowance for sales returns 829 485
Provision for inventory obsolescence 1,328 901
Provision for doubtful debts, net 45 103
Provision for doubtful advances, net 1,155 (87)
operating cash flows before working capital changes 24,384 21,404
Increase in trade receivables (10,571) (1,418)
Increase in inventories (3,326) (3,536)
Increase / (decrease) in trade payables 355 (975)
Increase / (decrease) in other assets and liabilities, net (4,196) 2,493
cash generated from operations 6,646 17,968
Income taxes paid, net (3,758) (3,938)
net cash provided by operating activities 2,888 14,030
caSh flowS froM / (uSeD in) inveSting activitieS
Purchase of fixed assets (5,802) (6,012)
Proceeds from sale of fixed assets 20 (Increase) / decrease in deposit accounts (having original maturity of more than three months)
and other bank balances (1,540) (7,069)
Purchase of investments (11,865) (13,704)
Proceeds from sale of investments 12,626 11,780
Dividend from mutual fund units - 2
Dividend from subsidiaries and joint venture 28 Loans and advances (given to) / repaid by subsidiaries, joint ventures and associates 416 3,118
Interest received 928 580
net cash (used in) investing activities (5,189) (11,304)
caSh flowS froM / (uSeD in) financing activitieS
Proceeds from issue of share capital 1 6
Repayment of long term borrowings - (2)
Proceeds from long term borrowings - 2
Repayment of short term borrowings (25,165) (21,162)
Proceeds from short term borrowings 30,265 22,053
Interest paid (875) (629)
Dividend paid (2,708) (2,216)

net cash from / (used in) financing activities 1,518 (1,949)

net increase / (decrease) in cash and cash equivalents (783) 777
cash and cash equivalents at the beginning of the year (refer note 2.13) 1,400 641
effect of exchange gain on cash and cash equivalents (56) (18)
cash and cash equivalents at the end of the year (refer note 2.13) 561 1,400
notes to the cash flow statement:
Cash and cash equivalents at the end of the year (refer note 2.13) 561 1,400
Other bank balances (refer note 2.13) 8,630 7,090
cash and bank balances at the end of the year (refer note 2.13) 9,191 8,490

incoMe
Sales, gross 81,462 66,443
Less: Excise duty (718) (405)
Sales, net 80,744 66,038
Service income 388 530
License fees 1,315 110
Other operating revenue 2.16 1,893 719
revenue from operations 84,340 67,397
Other income 2.17 1,417 818
total revenue 85,757 68,215
exPenSeS
Cost of material consumed (including packing material consumed) 22,773 17,386
Purchase of stock-in-trade (traded goods) 3,931 3,076
Changes in inventories of finished goods, work-in-progress and stock-in-trade 2.18 (1,006) (1,048)
Conversion charges 592 505
Excise duty 636 534
Employee benefits expense 2.19 11,381 8,661
Finance costs 2.20 614 636
Depreciation and amortization expense 2.7 3,128 3,011
Research and development 2.21 6,509 5,813
Other expenses 2.22 19,444 15,124
Provision for other than temporary diminution in the value of long-term investements 2.42 223 1,925
total expenses 68,225 55,623
Profit before exceptional and extraordinary items and tax 17,532 12,592
Exceptional items - Profit before extraordinary items and tax 17,532 12,592
Extraordinary Items - Profit before tax 17,532 12,592
Income taxes 2.23
Current tax expense 4,140 4,275
Deferred tax expense / (benefit) 737 (807)
Profit for the year 12,655 9,124
earnings per share 2.26
Basic - Par value ` 5/- per share 74.54 53.83
Diluted - Par value ` 5/- per share 74.17 53.56
number of shares used in computing earning per share
Basic - Par value ` 5/- per share 169,778,214 169,470,729
Diluted - Par value ` 5/- per share 170,617,880 170,331,942
Significant accounting policies 1
notes to financial statements 2

eQuitY anD liaBilitieS

Shareholders funds
Share capital 2.1 849 848
Reserves and surplus 2.2 76,985 66,330
77,834 67,178
non current liabilities
Long term borrowings 2.3 63 5,130
Deferred tax liabilities, net 2.25 937 200
Other long term liabilities 2.4 28 63
Long term provisions 2.5 298 212
1,326 5,605
current liabilities
Short term borrowings 2.3 15,828 10,204
Trade payables 2.6 7,678 7,334
Other current liabilities 2.4 13,011 9,844
Short term provisions 2.5 4,214 3,241
40,731 30,623
total 119,891 103,406
aSSetS
non current assets
Fixed assets
Tangible assets 2.7 23,355 18,967
Intangible assets 2.7 515 1
Capital work-in-progress 4,232 6,176
Non current investments 2.8 21,826 22,707
Long term loans and advances 2.9 3,501 6,318
Other non current assets 2.15 209 53,638 54,169
current assets
Current investments 2.10 1,966 2,070
Inventories 2.11 15,265 13,267
Trade receivables 2.12 29,639 19,435
Cash and bank balances 2.13 9,191 8,490
Short term loans and advances 2.14 8,885 5,298
Other current assets 2.15 1,307 677
66,253 49,237
total 119,891 103,4

company industry
TCS
it
ITC
Reliance fmcg
ONGC
Coal India
Infosys
it
HDFC Bank bank
HUL
Bharti Airteltelecom
HDFC
bank
Sun Pharma
NTPC
Wipro
SBI
Tata Motors
ICICI Bank
HCL Tech
Larsen
Cairn India
Bajaj Auto
Idea Cellular
Hind Zinc
Kotak Mahindra
Sesa Goa
Mah and Mah
Nestle
IOC
UltraTechCement
Axis Bank
NMDC
Power Grid Corp
Asian Paints
Maruti Suzuki
GAIL
Dr Reddys Labs
Hero Motocorp
Lupin
United Spirits
Cipla
BHEL
Tech Mahindra
Reliance Comm
Dabur India
Bharti Infratel
Adani Ports
Godrej Consumer

1,945.55
342.9
822.3
262.15
297.25
3,014.70
611.7
619.3
321.95
784.4
589.5
143.95
470.65
1,643.50
335.5
911
1,071.65
800
316.85
2,016.90
173.5
132.05
684.65
175.45
833.4
5,167.40
204.9
1,813.00
1,043.75
119.15
99
454.65
1,380.00
325
2,407.60
1,997.70
852.1
2,509.25
431.9
141.4
1,324.95
148.8
168.5
153.2
138.6
830.35

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

2,075.85
380
954.8
354.1
374.05
3,172.70
727
725
370.4
931
601.25
173.7
501
2,550.00
354.9
1,236.90
1,104.30
1,152.07
349.9
2,228.95
177
146.8
804
205.4
1,026.45
5,864.85
375
2,074.80
1,549.00
199
122.45
524.7
1,773.45
396
2,471.70
2,127.70
908
2,815.00
450
272.45
1,434.30
164.45
177.4
220
175
977.4

1,223.75
273.4
765
234.4
238.35
2,249.00
528
443.05
264
632.2
344.73
122.65
315.3
1,452.90
258
758.8
564.8
678.1
267.9
1,704.95
82.25
94
625.95
119.45
741.5
4,443.80
186.2
1,404.95
764
92.65
86.7
403.1
1,253.00
273
1,656.00
1,434.05
570.5
1,189.15
359.55
100.35
893
53.1
124
126.05
121.3
680

market caoitalisation
380,787.13
271,576.08
265,574.67
224,282.17
187,753.93
173,114.98
146,272.65
133,925.66
128,696.30
122,222.07
122,095.11
118,693.46
116,020.30
112,420.98
107,986.22
105,165.32
74,779.25
73,990.70
60,529.18
58,362.43
57,549.57
55,795.34
52,597.76
52,015.21
51,328.47
49,821.86
49,748.75
49,714.36
48,971.68
47,239.59
45,834.28
43,609.93
41,687.05
41,225.52
40,953.21
39,891.57
38,176.04
36,466.36
34,678.17
34,609.06
30,790.65
30,712.72
29,383.25
28,937.16
28,690.92
28,259.05

Bosch
Ambuja Cements
Oil India
Tata Steel
OracleFinancial
DLF
Grasim
NHPC
BPCL
Hindalco
United Brewerie
Zee Entertain
Jindal Steel
SAIL
Bank of Baroda
GlaxoSmithKline
Titan Ind
ACC
IndusInd Bank
Reliance Power
Rural Elect Cor
Tata Power
Shriram TransFi
JSW Steel
GlaxoSmith Con
Power Finance
Siemens
Colgate
PNB
Sun TV Network
Adani Enterpris
AdityaBirlaNuvo
Castrol
Ranbaxy Labs
M&M Financial
Glenmark
Shree Cements
Cadila Health
Marico
IDFC
Container Corp
Motherson Sumi
Pidilite Ind
Divis Labs
Apollo Hospital
ABB
Exide Industrie

8,891.20
180.2
446.7
275.65
3,066.50
136.9
2,629.40
19.3
326.4
110.65
844.8
231.15
232.4
51.45
498.8
2,466.75
234.85
1,099.80
383.25
67.55
191.4
78
568.85
749.6
4,291.80
131.45
486.95
1,258.20
462.7
403.55
141.35
1,248.95
299.8
350
258.8
537.15
4,158.55
680.05
215.45
90.8
697.45
229
258.65
990.65
918.65
544.4
134.85

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

9,590.00
220.7
629.7
448.1
3,414.00
289.2
3,511.00
29.4
449
137
1,023.30
267.35
473.9
101.6
899.65
2,899.00
313.6
1,514.95
530.6
106.7
267.5
113.2
841.8
893.75
6,020.00
227
749.95
1,580.40
922.1
493.9
296.9
1,271.00
371.45
559.8
287.5
612
5,210.00
924.6
251.1
185.35
824.1
241.1
302.75
1,233.00
1,096.15
830
166.3

8,000.00
147.55
415
195.4
2,350.00
120.25
2,121.00
15.25
256
83.05
697
180.15
181.55
37.65
429.25
2,005.00
200
912.05
351.2
58.55
146.15
68.25
465.2
451.5
3,048.00
97.4
414.05
1,190.05
402.2
323.4
126.05
918.85
291.5
253.95
175.8
411
3,412.65
631
196.05
76.25
614.93
150.8
192.2
905
777.7
448.1
115.35

27,917.39
27,833.85
26,852.74
26,771.55
25,787.14
24,379.36
24,139.81
23,740.43
23,601.47
22,849.99
22,336.95
22,190.19
21,725.81
21,251.55
21,075.31
20,894.12
20,849.66
20,670.74
20,087.67
18,948.63
18,899.97
18,509.96
18,217.66
18,119.48
18,049.40
17,351.88
17,341.26
17,110.62
16,355.21
15,903.28
15,545.82
15,019.84
14,826.94
14,809.53
14,719.64
14,553.76
14,487.23
13,923.92
13,893.40
13,766.42
13,598.47
13,463.97
13,259.49
13,149.32
12,780.73
11,536.29
11,462.25

Cummins
L&T Finance
Bhushan
Emami
Yes Bank
Canara Bank
ING Vysya Bank

410.85
65.35
479.75
474.3
295
226.8
536.65

0
0
0
0
0
0
0

550
97.35
505.85
539.4
547.15
550
667

365.05
49.2
445.15
341.7
216.1
189.9
415.5

11,388.76
11,220.16
10,867.08
10,765.07
10,632.74
10,047.24
10,028.27