Balance sheet BPCL Comman size

Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 09

Sources of funds
Owner's fund
Equity share capital 361.54 361.54 361.54 1.08572135574327
Share application money - - - - -
Preference share capital - - - - -
Reserves & surplus 11,766.57 11,315.30 9,912.00 35.3355543863695
Loan funds 0
Secured loans 3,661.60 2,730.21 2,593.96 10.9959542960379
Unsecured loans 17,509.81 12,292.17 8,235.28 52.5827699618493
Total 33,299.52 26,699.22 21,102.78 100.00
Uses of funds
Fixed assets
Gross block 22,522.33 21,500.93 19,457.58
Less : revaluation reserve - - -

Less : accumulated depreciation 10,556.54 9,532.26 8,476.53

Net block 11,965.79 11,968.67 10,981.04 35.93
Capital work-in-progress 2,037.48 766.71 852.34 6.12
Investments 16,715.19 9,358.01 7,385.42 50.20
Net current assets

Current assets, loans & advances 17,275.18 20,971.33 14,841.40

Less : current liabilities &
provisions 14,694.12 16,365.51 12,957.44
Total net current assets 2,581.06 4,605.83 1,883.97 7.75

Miscellaneous expenses not written - - -

Total 33,299.52 26,699.22 21,102.78 100.00
Notes:
Book value of unquoted
investments 1,118.63 707.04 636.48

Market value of quoted investments 15,338.25 9,628.55 7,369.30

Contingent liabilities 5,862.61 5,083.23 3,590.62
Number of equity
sharesoutstanding (Lacs) 3615.42 3615.42 3615.42

Du Pont Analysis
ROE = Profit margin *total assets turnover * equity margin
 ROE 2007 2008 2009
Profit Margin = NPAT/Net Worth 0.1985015 0.090083 0.1194426823721
Total Assets = NPAT/Sales Err:509 #VALUE!
Equity Margin = Sales/Total Assets Err:509 Err:509 Err:509
Total Assets/Net Worth #REF! #REF! #REF!
 comparative
statement

%
Mar ' 08 Mar ' 07 Mar07-08 Increase/Decrease Mar08-09

1.35412196 1.713234 0 0
- - - - - -- -
- - - - - -- -
42.3806388 46.97011 14.157586763519 3.9881399521
0 0 0 0
10.2258043 12.29203 5.25258677851625 34.114225646
46.0394349 39.02462 49.2623201639774 42.446858447
100.00 100.00 26.52 24.72

10.5015628870599 4.750492188
- -

12.4547426836217 10.745405602
44.83 52.04 8.99 -0.02
2.87 4.04 -10.05 165.74
35.05 35.00 26.71 78.62

41.3029094290296 -17.6247763

26.3020318828411 -10.21288063
17.25 8.93 144.47 -43.96

-
100.00 100.00 26.52 24.72
P&L BPCL

Mar ' 09 Mar ' 08 Mar ' 07

Income

Operating income 1,34,073.43 1,10,208.13 96,556.85

Expenses

Material consumed 1,23,567.17 1,02,136.48 88,539.75

Manufacturing
expenses  414.26 291.29 310.08

Personnel expenses 1,884.88 1,297.21 1,003.70

Selling expenses 2,426.14 2,052.39 1,875.82

Adminstrative
expenses 1,240.35 1,279.79 1,109.72

Expenses capitalised - - -

Cost of sales 1,29,532.80 1,07,057.16 92,839.06

Operating profit 4,540.63 3,150.97 3,717.79
Other recurring
income 1,491.16 982.98 768.63
Adjusted PBDIT 6,031.79 4,133.94 4,486.42

Financial expenses 2,166.37 672.47 477.35

Depreciation  1,075.53 1,098.21 904.11
Other write offs - - -
Adjusted PBT 2,789.89 2,363.26 3,104.96
Tax charges  261.12 1,010.00 955.33
Adjusted PAT 2,528.77 1,353.26 2,149.62

Non recurring items -1,789.90 108.65 -217.64

Other non cash
adjustments -2.97 118.65 -126.5

Reported net profit 735.9 1,580.56 1,805.48

Earnigs before
appropriation 735.9 1,580.56 4,488.39
Equity dividend 253.08 144.62 578.47

Preference dividend - - -
Dividend tax 31.45 9.16 91.87

Retained earnings 451.37 1,426.78 3,818.05

Ratios BPCL COPIED Mar '07 Mar '08 Mar '09

Investment Valuation Ratios

Face Value 10 10 10
Dividend Per Share 16 4 7
Operating Profit Per Share (Rs) 102.83 87.15 125.59
Net Operating Profit Per Share (Rs) 2,670.69 3,048.28 3,708.38
Free Reserves Per Share (Rs) 273.74 312.56 316.74
Bonus in Equity Capital 76.61 76.61 76.61
Profitability Ratios
Operating Profit Margin(%) 3.85 2.85 3.38
Profit Before Interest And Tax Margin(%) 2.89 1.84 2.55
Gross Profit Margin(%) 4.11 1.86 2.58
Cash Profit Margin(%) 2.78 2.2 2.65
Adjusted Cash Margin(%) 3.13 2.2 2.65
Net Profit Margin(%) 1.85 1.42 0.54
Adjusted Net Profit Margin(%) 2.2 1.42 0.54
Return On Capital Employed(%) 16.97 11.37 14.88
Return On Net Worth(%) 17.57 13.53 6.06
Adjusted Return on Net Worth(%) 20.92 11.58 20.85
Return on Assets Excluding Revaluations 5.3 3.67 1.53
Return on Assets Including Revaluations 5.3 3.67 1.53
Return on Long Term Funds(%) 28.81 19.46 31.19
Liquidity And Solvency Ratios
Current Ratio 0.61 0.74 0.5
Quick Ratio 0.45 0.61 0.67
Debt Equity Ratio 1.05 1.29 1.75
Long Term Debt Equity Ratio 0.21 0.34 0.31
Debt Coverage Ratios
Interest Cover 7.5 4.51 2.29
Total Debt to Owners Fund 1.05 1.29 1.75
Financial Charges Coverage Ratio 9.4 6.15 2.78
Financial Charges Coverage Ratio Post Tax 6.68 4.98 1.84
Management Efficiency Ratios
Inventory Turnover Ratio 11.24 11.64 21.91
Debtors Turnover Ratio 68.13 70.48 88.37
Investments Turnover Ratio 12.58 11.64 21.91
Fixed Assets Turnover Ratio 8.47 5.15 5.98
Total Assets Turnover Ratio 4.59 4.14 4.04
Asset Turnover Ratio 4.98 5.15 5.98

Average Raw Material Holding 12.43 27.65 10.14

Average Finished Goods Held 25.74 20.66 12.79
Number of Days In Working Capital 7.02 15.05 6.93
Profit & Loss Account Ratios
Material Cost Composition 91.9 92.31 90.98
Imported Composition of Raw Materials Consumed 72.14 70.99 --
Selling Distribution Cost Composition 1.94 1.86 1.8
Expenses as Composition of Total Sales 5.78 6.75 4.89
Cash Flow Indicator Ratios
Dividend Payout Ratio Net Profit 37.12 9.72 38.66
Dividend Payout Ratio Cash Profit 24.73 5.74 15.7
Earning Retention Ratio 68.82 88.64 88.75
Cash Earning Retention Ratio 78.05 93.73 92.11
AdjustedCash Flow Times 3.55 6.13 5.87
Mar '07 Mar '08 Mar '09
Earnings Per Share 49.94 43.72 20.35
Book Value 284.16 322.97 335.45

RATIO'S BPCL Calculated Mar'09 Mar'08 Mar'07

ROI 14.88% 11.37% 16.98%
RONW 20.85 11.59 20.92
EPS 20.35% 43.72% 49.94%
DEBT EQUETY RATIO 1.75 1.29 1.05
DEBT SERVICE COURAGE RATIO 0.26 0.26 0.40
INTEREST/FINANCIAL COURAGE RATIO 2.78 6.15 9.40
CURRENT RATIO 1.18 1.28 1.15
QUICK RATIO 1.18 1.28 1.15
Balance sheet HPCL
Mar'09 Mar'08 Mar'07
Sources of funds
Owner's fund

Equity share capital 339.01 339.01 338.95

Share application money 0 0 0
Preference share capital 0 0 0
Reserves & surplus 10,391.62 10,224.28 9,259.70
Loan funds
Secured loans 698.49 1,118.48 1,005.48
Unsecured loans 22,056.68 15,668.22 9,512.05
Total 33,485.80 27,349.99 20,116.18
Uses of funds
Fixed assets
Gross block 20,208.63 19,570.05 15,638.48
Less : revaluation reserve 0 0 0
Less : accumulated depreciation 8,554.08 7,640.77 6,817.64
Net block 11,654.55 11,929.28 8,820.84
Capital work-in-progress 5,001.27 3,315.95 4,243.56
Investments 14,196.47 6,837.05 7,127.47
Net current assets
Current assets, loans & advances 16,262.69 19,495.39 11,589.93

Less : current liabilities & provisions 13,629.18 14,227.68 11,665.62

Total net current assets 2,633.51 5,267.71 -75.69
Miscellaneous expenses not written 0 0 0 - -
Total 33,485.80 27,349.99 20,116.18
Notes:

Book value of unquoted investments 1,026.39 610.56 574.11

Market value of quoted investments 12,948.34 8,068.12 7,094.89
Contingent liabilities 5,588.88 6,450.22 7,176.59
Number of equity sharesoutstanding
(Lacs) 3393.3 3393.3 3393.3
Comman size Comparitive
Mar'09 Mar'08 Mar'07 Mar'07-08 Increase/decrease

1.01239928566736 1.2395251 1.684962 0.000177017259183

0 0 0
0 0 0
31.0329154447557 37.383122 46.03111 10.4169681523159
0 0 0 0
2.08592896093269 4.0895079 4.998365 11.2384134940526
65.8687563086443 57.287845 47.28557 64.7196976466692
100.00 100.00 100.00 35.96

25.1403589095615

12.07
34.80 43.62 43.85 35.24
14.94 12.12 21.10 -21.86
42.40 25.00 35.43 -4.07
0.00 0.00

7.86 19.26 -0.38 -7,059.59

0.00 0.00 0.00
100.00 100.00 100.00 35.96
Mar'08-09

1.6366922659
0
-37.550067949
40.77336162
22.43

3.2630473606

11.95
-2.30
50.82
107.64

-50.01

22.43