Balance Sheet of Dabur India - in Rs. Cr.
Balance Sheet of Dabur India - in Rs. Cr.
-------------------
Mar 19 Mar-18 Mar-17 Mar-16 Mar-15
SHAREHOLDER'S FUNDS
NON-CURRENT LIABILITIES
NON-CURRENT ASSETS
NON-CURRENT INVESTMENTS
CURRENT INVESTMENTS
CA - CL -135 9
Change in -145
Profit & Loss account of Dabur
------------------- in Rs. Cr. -------------------
India
Mar 19 Mar-18 Mar-17 Mar-16 Mar-15
INCOME
Revenue From Operations
6,189.54 5,552.26 5,357.84 5,822.23 5,493.39
[Gross]
Less: Excise/Sevice Tax/Other
0 16.77 79.19 82.53 74.38
Levies
Revenue From Operations
6,189.54 5,535.49 5,278.65 5,739.70 5,419.01
[Net]
Other Operating Revenues 83.65 56.8 12 10.3 12.27
Total Operating Revenues 6,273.19 5,592.29 5,290.65 5,750.00 5,431.28
Other Income 274.74 283.23 274.64 196.64 137.85
Total Revenue 6,547.93 5,875.52 5,565.29 5,946.64 5,569.13
EXPENSES
Cost Of Materials Consumed 2,262.51 2,060.26 1,843.18 1,847.75 1,921.09
Purchase Of Stock-In Trade 984.91 916.46 944.6 988.14 937.25
Changes In Inventories Of
10.09 -74.03 -8.19 -23.77 -32.25
FG,WIP And Stock-In Trade
Employee Benefit Expenses 572.33 461.13 425.3 431.77 392.99
Finance Costs 29.8 21.89 16.23 9.83 9.89
Depreciation And Amortisation
108.83 102.5 75.43 72.82 65.97
Expenses
Other Expenses 1,076.11 999.64 974.39 1,407.36 1,273.70
Total Expenses 5,044.58 4,487.85 4,270.94 4,733.90 4,568.64
Mar-19 Mar-18 Mar-17 Mar-16 Mar-15
WORKINGS:
Data for NIFTY 50 Data for 10 Year Gov Bonds
Date LastReturn
Price (over 10 year period) Date
Month End Return (%)
31-Dec-18 36,068 14.10% 31 Dec 18 6.516
31-Dec-17 34,056 5.36% 31 Dec 17 7.758
31-Dec-16 26,626 7.05% 31 Dec 16 7.857
31-Dec-15 25,838 10.81% 31 Dec 15 8.825
31-Dec-14 21,171 12.54% 31 Dec 14 8.049
31-Dec-13 21,483 14.51% 31 Dec 13 8.572
31-Dec-12 19,423 19.12% 31 Dec 12 7.913
31-Dec-11 15,454 17.11% 31 Dec 11 7.679
31-Dec-10 20,509 17.84% 31 Dec 10 5.26
31-Dec-09 17,464 13.31% 31 Dec 09 7.791
31-Dec-08 9,647
31-Dec-07 20,206
31-Dec-06 13,471
31-Dec-05 9,256
31-Dec-04 6,498
31-Dec-03 5,541
31-Dec-02 3,377
31-Dec-01 3,184
31-Dec-00 3,972
31-Dec-99 5,005
Calculation of ERP
Date Rm Rf Rp= Rm-Rf
2018 14.10% 6.52% 7.58%
2017 5.36% 7.76% -2.40%
2016 7.05% 7.86% -0.81%
2015 10.81% 8.83% 1.99%
2014 12.54% 8.05% 4.49%
2013 14.51% 8.57% 5.94%
2012 19.12% 7.91% 11.21%
2011 17.11% 7.68% 9.43%
2010 17.84% 5.26% 12.58%
2009 13.31% 7.79% 5.52%
#
Note:
Additional risk premium is added because of:
1. Company Default spread because interest coverage ratio is higher than industry
2. Co. specific risk premium owing to substitutes
Formula (1-Payout ratio )XReturn on Equity
2019
Earnings Retention Ratio (%) 40.256 -26.31 55.5 60.29
200
100
0
400
300
200
100
0
3 63 123 183 243 30
Covariance of market and dabur returns /Variance of market
0.61
0.6958
Nifty50
14000.0
12000.0
10000.0
8000.0
6000.0
500 0.0
8/25/2014 5/25/2015 2/25/2016 11/25/2016 8/25/2017 5/25/2018 2/25/2019
400
300
200
100
0
400
300
200
100
0
3 63 123 183 243 303 363 423 483 543 603 663 723 783 843 903 963 1023108311431203