Year
Company Name
2001 Aarti Drugs Ltd.
2002 Aarti Drugs Ltd.
2003 Aarti Drugs Ltd.
2004 Aarti Drugs Ltd.
2005 Aarti Drugs Ltd.
2006 Aarti Drugs Ltd.
2007 Aarti Drugs Ltd.
2008 Aarti Drugs Ltd.
2009 Aarti Drugs Ltd.
2010 Aarti Drugs Ltd.
2011 Aarti Drugs Ltd.
2012 Aarti Drugs Ltd.
2013 Aarti Drugs Ltd.
PUS
0.15
0.16
0.14
0.13
0.15
0.14
0.13
0.14
0.16
0.16
0.13
0.12
0.15
NS
CCE
CCEUS
1,386.70
52.40
0.04
1,602.50
61.70
0.04
1,738.00
69.30
0.04
2,169.50
71.50
0.03
2,414.90
70.80
0.03
2,529.40
75.00
0.03
2,825.10
89.60
0.03
3,107.30
98.80
0.03
3,764.90
112.30
0.03
4,714.30
147.80
0.03
4,964.20
178.90
0.04
6,592.60
231.40
0.04
8,248.40
279.00
0.03
ME
AE
16.10
21.80
20.90
20.00
26.20
20.40
32.00
21.30
41.50
46.30
41.20
52.30
60.90
3.10
7.20
6.90
4.60
3.10
3.50
2.90
2.70
3.50
5.70
5.20
4.70
11.90
TSME
TSMEUS PBDITA
NW
TOL
TA
19.20
0.01
212.10
468.90
906.60 1,429.40
29.00
0.02
259.20
570.60
955.80 1,569.30
27.80
0.02
251.70
583.80 1,112.10 1,812.00
24.60
0.01
287.50
619.70 1,602.00 2,432.00
29.30
0.01
359.70
731.80 1,879.90 2,871.60
23.90
0.01
347.70
850.10 2,318.10 3,433.20
34.90
0.01
370.40
973.00 2,345.60 3,457.60
24.00
0.01
424.30 1,090.20 2,693.00 3,957.20
45.00
0.01
594.20 1,201.90 2,457.30 3,867.50
52.00
0.01
749.10 1,411.00 2,415.70 4,086.50
46.40
0.01
652.00 1,565.20 3,306.60 5,159.90
57.00
0.01
815.00 1,764.80 4,026.50 6,126.20
72.80
0.01 1,237.20 2,076.10 4,678.70 7,197.30
LNTA
LEV
7.27
7.36
7.50
7.80
7.96
8.14
8.15
8.28
8.26
8.32
8.55
8.72
8.88
RND
0.63
0.61
0.61
0.66
0.65
0.68
0.68
0.68
0.64
0.59
0.64
0.66
0.65
10.90
21.50
14.80
18.20
20.80
4.20
15.00
25.90
29.50
45.50
43.80
46.30
52.10
RNDUS
0.01
0.01
0.01
0.01
0.01
0.00
0.01
0.01
0.01
0.01
0.01
0.01
0.01
Variable
Year
Company Name
PUS
NS
CCE
CCEUS
ME
AE
TSME
TSMEUS
PBDITA
NW
TOL
TA
LNTA
LEV
RND
RNDUS
Description
Year of collecting the data
Name of the company
Gross Profit Upon Sales
Net Sales
Compensation to employees
Compensation to employees Upon Sales
Marketing Expenses
Advertisement Expenses
Total Sales and marketing Expenses
Total Sales and marketing Expenses Upon Sales
Profit before dep, interest, tax and amort.
Net Worth
Total Outside Liabilities
Total Assets
Log of total assets
Leverage
Research and development expenses
Research and development expenses upon sales
Formulae
(PBDITA/Net Sales)
(CCE/Net Sales)
(ME + AE)
(TSME/Net Sales)
(TOL/TA)
(RND/Net Sales)
Dependent Variable
PUS
Explanatory Variables
LNTA, LEV, CCEUS, TSMEUS, RNDUS