KK NTPC

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Balance Sheet of NTPC

Mar '11 Mar '10 Mar '09

12 mths 12 mths 12 mths

Sources Of FundsTotal Share Capital 8,245.46 8,245.50 8,245.50

Equity Share Capital 8,245.46 8,245.50 8,245.50

Share Application Money 0 0 0

Preference Share Capital 0 0 0

Reserves 60,138.66 55,478.60 50,749.40

Revaluation Reserves 0 0 0

Networth 68,384.12 63,724.10 58,994.90

Secured Loans 9,910.68 9,079.90 8,969.60

Unsecured Loans 33,277.56 28,717.10 25,598.20

Total Debt 43,188.24 37,797.00 34,567.80

Total Liabilities 111,572.36 101,521.10 93,562.70

Application Of Funds

Gross Block 72,583.94 66,663.80 62,353.00

Less: Accum. Depreciation 33,519.19 32,088.80 29,415.30

Net Block 39,064.75 34,575.00 32,937.70

Capital Work in Progress 38,441.84 32,290.60 26,404.90

Investments 12,344.84 14,807.10 13,983.50

Inventories 3,639.12 3,347.70 3,243.40

Sundry Debtors 7,924.31 6,651.40 3,584.20

Cash and Bank Balance 326.34 634 271.8Total Current Assets 11,889.77 10,633.10 7,099.40

Loans and Advances 7,648.10 6,357.10 7,826.10

Fixed Deposits 15,858.92 13,825.50 15,999.80

Total CA, Loans & Advances 35,396.79 30,815.70 30,925.30

Deffered Credit 0 0 0

Current Liabilities 10,945.55 7,896.80 7,439.20

Provisions 2,730.31 3,070.50 3,249.50

Total CL & Provisions 13,675.86 10,967.30 10,688.70

Net Current Assets 21,720.93 19,848.40 20,236.60

Miscellaneous Expenses 0 0 0

Total Assets 111,572.36 101,521.10 93,562.70

Contingent Liabilities 33,227.29 40,044.00 66,083.20

Book Value (Rs) 82.94 77.28 71.55

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Mar '08 Mar '07 Mar '06 Mar '05 Mar '04

12 mths 12 mths 12 mths 12 mths 12 mths

8,245.50 8,245.50 8,245.50 8,245.50 7,812.50

8,245.50 8,245.50 8,245.50 8,245.50 7,812.50

0 0 0 0 0

0 0 0 0 0

46,021.90 40,351.30 36,713.20 33,530.80 28,116.00

0 0 0 0 0

54,267.40 48,596.80 44,958.70 41,776.30 35,928.50

7,314.70 7,479.60 6,173.50 4,778.10 4,743.50

19,875.90 17,661.50 14,464.60 12,647.10 10,868.40

27,190.60 25,141.10 20,638.10 17,425.20 15,611.90

81,458.00 73,737.90 65,596.80 59,201.50 51,540.40

53,368.00 50,604.20 45,917.60 42,996.10 39,933.70

27,274.30 25,079.20 22,950.10 20,791.40 18,773.60

26,093.70 25,525.00 22,967.50 22,204.70 21,160.10

22,478.30 16,962.30 13,756.00 10,038.60 7,589.70

15,267.20 16,094.30 19,289.10 20,797.70 17,338.00

2,675.70 2,510.20 2,340.50 1,777.70 1,738.00

2,982.70 1,252.30 867.8 1,374.70 469.9

473 750.1 176.8 367.3 602.56,131.40 4,512.60 3,385.10 3,519.70 2,810.40

9,936.20 8,781.70 6,555.10 5,491.10 11,825.40

14,460.20 12,564.50 8,294.60 5,711.00 6.6

30,527.80 25,858.80 18,234.80 14,721.80 14,642.40

0 0 0 0 0

5,548.40 5,422.20 4,910.30 5,884.60 7,465.30

7,360.60 5,280.30 3,740.30 2,676.70 1,724.50

12,909.00 10,702.50 8,650.60 8,561.30 9,189.80

17,618.80 15,156.30 9,584.20 6,160.50 5,452.60

0 0 0 0 0

81,458.00 73,737.90 65,596.80 59,201.50 51,540.40

29,361.80 25,218.80 16,429.80 16,680.00 8,746.50

65.81 58.94 54.53 50.67 45.99

------------------- in Rs. Cr. -------------------

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Mar '03 Mar '02

12 mths 12 mths

7,812.50 7,812.55

7,812.50 7,812.55

0 0

0 0

23,700.20 20,839.93

0 0

31,512.70 28,652.48

4,149.70 1,645.50

9,093.10 9,935.68

13,242.80 11,581.18

44,755.50 40,233.66

36,610.60 32,891.16

16,745.60 15,213.11

19,865.00 17,678.05

6,386.30 6,558.38

3,667.40 4,028.11

1,771.20 2,014.20

12,434.90 11,532.83

0 1,199.2914,206.10 14,746.32

4,662.40 3,025.31

544.7 5.57

19,413.20 17,777.20

0 0

3,420.30 3,141.70

1,164.80 2,673.61

4,585.10 5,815.31

14,828.10 11,961.89

8.7 7.24

44,755.50 40,233.67

0 7,429.53

40.34 3,667.49

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Profit & Loss account

Mar '11 Mar '10

12 mths 12 mths

Income

Sales Turnover 55,216.69 46,623.60Excise Duty 278.01 245.9

Net Sales 54,938.68 46,377.70

Other Income 2,525.48 2,872.80

Stock Adjustments 0 0

Total Income 57,464.16 49,250.50

Expenditure

Raw Materials 31.33 31.1

Power & Fuel Cost 35,796.37 29,689.10

Employee Cost 3,395.27 2,946.80

Other Manufacturing Expenses 1,273.14 1,096.60

Selling and Admin Expenses 2,264.01 578.5

Miscellaneous Expenses 525.63 436.4

Preoperative Exp Capitalised -1,052.98 -866.9

Total Expenses 42,232.77 33,911.60

Operating Profit 12,705.91 12,466.10

PBDIT 15,231.39 15,338.90

Interest 2,027.21 1,861.90

PBDT 13,204.18 13,477.00

Depreciation 2,485.69 2,650.10

Other Written Off 4.5 4.3Profit Before Tax 10,713.99 10,822.60

Extra-ordinary items 1,330.06 616.1

PBT (Post Extra-ord Items) 12,044.05 11,438.70

Tax 2,630.54 2,682.70

Reported Net Profit 9,102.59 8,728.20

Total Value Addition 42,201.44 33,880.50

Preference Dividend 0 0

Equity Dividend 3,133.26 3,133.20

Corporate Dividend Tax 514.77 527.6

Per share data (annualised)

Shares in issue (lakhs) 82,454.64 82,454.64

Earning Per Share (Rs) 11.04 10.59

Equity Dividend (%) 38 38

Book Value (Rs) 82.94 77.28

Internal growth

ROE 0.133109704 0.136968588

Number of Shares 48418964 8245464400

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EPS 11.04 10.59

Dividend Per Share 3.8 3.8

payout ratio 0.344202899 0.358829084

Retention ratio 0.655797101 0.641170916

Growth in equity 0.087292958 0.087820275

Past DataEPS 11.04 10.59

Growth in equity 0.042492918 0.064321608

A.M.

G.M.

Regression approach

Year 10 9

year-avg. year(y) 4.5 3.5

EPS 11.04 10.59

ln EPS 2.401525041 2.35991016

y.ln EPS 10.80686268 8.259685559

y2

20.25 12.25

ln(1+growth)

Growth in equity

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12 mths 12 mths 12 mths 12 mths 12 mths

42,196.80 37,302.40 32,817.30 26,318.60 22,565.00221.6 211.4 185.6 175.7 0

41,975.20 37,091.00 32,631.70 26,142.90 22,565.00

3,012.80 3,119.70 2,875.60 2,897.90 2,438.60

0 0 0 0 0

44,988.00 40,210.70 35,507.30 29,040.80 25,003.60

31 26.8 23.7 25 17.9

27,292.30 22,160.70 19,947.60 16,497.10 13,804.10

2,897.60 2,229.30 1,362.60 1,137.50 997.1

940 920 842.9 705.1 586.7

473.2 389.8 410.8 353.2 -284.9

394.9 368.2 292.4 247.2 205.8

-637.4 -544.7 -418.4 -256.4 -74.8

31,391.60 25,550.10 22,461.60 18,708.70 15,251.90

10,583.60 11,540.90 10,170.10 7,434.20 7,313.10

13,596.40 14,660.60 13,045.70 10,332.10 9,751.70

1,737.00 1,982.20 2,055.70 2,004.60 1,701.60

11,859.40 12,678.40 10,990.00 8,327.50 8,050.10

2,364.50 2,138.50 2,075.40 2,047.70 1,958.40

3.6 3.1 9.9 1.3 0.49,491.30 10,536.80 8,904.70 6,278.50 6,091.30

1,305.20 -114 134.2 633.7 574.70

10,796.50 10,422.80 9,038.90 6,912.20 6,666.00

2,554.70 2,994.20 2,163.70 1,082.40 834.80

8,201.30 7,414.80 6,864.70 5,820.20 5,807.00

31,360.60 25,523.30 22,437.90 18,683.70 15,234.00

0 0 0 0 0

2,968.30 2,885.90 2,638.50 2,308.70 1,979.00

501.7 490.5 389.6 323.8 268

82,454.64 82,454.64 82,454.64 82,454.64 82,454.64

9.95 8.99 8.33 7.06 7.04

36 35 32 28 24

71.55 65.81 58.94 54.53 50.67

0.139017101 0.136634517 0.141258272 0.12945659 0.139002257

8245464400 8245464400 8245464400 8245464400 8245464400

------------------- in Rs. Cr. -------------------

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9.95 8.99 8.33 7.06 7.04

3.6 3.5 3.2 2.8 2.4

0.361809045 0.389321468 0.384153661 0.396600567 0.340909091

0.638190955 0.610678532 0.615846339 0.603399433 0.659090909

0.088719457 0.083439766 0.08699339 0.078114033 0.091615124

9.95 8.99 8.33 7.06 7.04

0.106785317 0.079231693 0.179886686 0.002840909 0.046062407

8 7 6 5 4

2.5 1.5 0.5 -0.5 -1.5

9.95 8.99 8.33 7.06 7.04

2.297572551 2.196112848 2.119863456 1.954445052 1.95160817

5.743931378 3.294169273 1.059931728 -0.977222526 -2.927412255

6.25 2.25 0.25 0.25 2.25

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Mar '04 Mar '03 Mar '02

12 mths 12 mths 12 mths

18,868.40 19,047.50 17,917.230 0 95.73

18,868.40 19,047.50 17,821.50

6,109.60 403.6 704.15

0 0 0

24,978.00 19,451.10 18,525.65

15.1 0 19.42

12,284.20 11,031.20 10,588.68

961 826.8 894.53

542.3 0 566.37

-92.7 555.5 295.23

188.60 1,081.40 177.75

-256.2 0 -297.37

13,642.30 13,494.90 12,244.61

5,226.10 5,552.60 5,576.89

11,335.70 5,956.20 6,281.04

3,372.70 991.60 1,153.50

7,963.00 4,964.60 5,127.54

2,023.20 1,529.10 1,383.29

9.5 0 05,930.30 3,435.50 3,744.25

1,013.50 318.5 828.05

6,943.80 3,754.00 4,572.30

1,658.30 146.50 1,029.89

5,260.80 3,607.50 3,539.62

13,627.20 13,494.90 12,225.20

0 0 0

1,082.30 708 707.93

138.7 39.5 0

78,125.49 78,125.49 781.25

6.73 4.62 4.5307

13.85 9.06 9.06

45.99 40.34 3,667.49

0.146424148 0.114477655 0.123536252

8245464400 7812549400 78125494

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6.73 4.62 4.5307

1.39 0.91 0.906

0.20653789 0.196969697 0.1999691

0.79346211 0.803030303 0.8000309

0.116182013 0.091929026 0.098832819 0.091094

6.73 4.62 4.5307 477.92

0.456709957 0.019709979 -0.990519961

0.122291

0.063015

3 2 1 5.5

-2.5 -3.5 -4.5

6.73 4.62 4.5307

1.906575144 1.530394705 1.510876453

-4.766437859 -5.356381468 -6.798944038 8.338182

6.25 12.25 20.25 82.5

0.101069

0.106353

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Capital Structure (NTPC)

Period Instrument Authorized Capital

From To (Rs. cr)

2010 2011 Equity Share 10000

2009 2010 Equity Share 10000

2008 2009 Equity Share 10000

2007 2008 Equity Share 100002006 2007 Equity Share 10000

2005 2006 Equity Share 10000

2004 2005 Equity Share 10000

2003 2004 Equity Share 10000

2000 2002 Equity Share 8000





Year Open Price High Price Low Price Close Price

2004 70 90.05 68 87.35

2005 87.9 113.9 77.4 112.1

2006 112 157.8 90.9 136.4

2007 137.5 284.9 129 250.05

2008 254 291 113 181

2009 182 241.7 165.5 235.7

2010 238.7 239 175.2 200.6

2011 201 203.15 152 160.6

2012 160.3 190.3 155.35 172.7

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Issued Capital - P A I D U P -

(Rs. cr) Shares (nos) Face Value Capital

8245.46 8245464400 10 8245.46

8245.46 8245464400 10 8245.46

8245.46 8245464400 10 8245.46

8245.46 8245464400 10 8245.468245.46 8245464400 10 8245.46

8245.46 8245464400 10 8245.46

8245.46 8245464400 10 8245.46

7812.55 7812549400 10 7812.55

7812.55 78125494 1000 7812.55

7812.55 78125494 1000 7812.55

7999.84 79998394 1000 7999.84

7999.84 79998394 1000 7999.84

7508.27 75082694 1000 7508.27

No.of Shares No. of Trades Total Turnover (Rs.Spread High-Low Spread Close-Open

335569397 645719 25844315591 22.05 17.35

361045256 1107363 33291037124 36.5 24.2

259159361 1156705 33240098998 66.9 24.4

385880374 2319542 76521877065 155.9 112.55

596458956 4750081 1.13614E+11 178 -73

284826183 2106819 56827019613 76.2 53.7

110982919 784512 22934329235 63.8 -38.1

48418964 540681 8549432450 51.15 -40.4

10269848 111969 1774679578 34.95 12.4

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Dividend growth evaluation process Growth rate Cost of Equity DIV 1 Price

Internal Growth 0.091093886 13.2363727470219% 0.91 22.05

A.M. 0.122291437 16.3561278028432%

G.M. 0.063014562 10.4284403501188%

Log-Linear Growth 0.106352843 14.7622684316262%

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YEAR Mar '11 Mar '10 Mar '09 Mar '08

Total Debt 43,188.24 37,797.00 34,567.80 27,190.60

Networth 68,384.12 63,724.10 58,994.90 54,267.40

CAPITAL EMPLOYED 111,572.36 101,521.10 93,562.70 81,458.00Interest 2,027.21 1,861.90 1,737.00 1,982.20

PBDIT 15,231.39 15,338.90 13,596.40 14,660.60

TOTAL DEBT RATIO=TOTAL DEBT/CAPITAL EMPLOYED 0.3870873 0.3723068 0.369461 0.333799

DEBT EQUITY RATIO=NET WORTH/TOTAL DEBT 1.5833968 1.6859566 1.706643 1.995815

INTEREST COVERAGE =EBIDTA/INTEREST 7.5134742 8.238305 7.827519 7.396126

0

1

2

3

4

5

6

7

8

9


INTEREST COVERAGE

INTEREST CO

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LEVERAGE RATIO

Mar '07

25,141.10

48,596.80

73,737.902,055.70

13,045.70

0.340952

1.932962

6.346111

0.3

0.32

0.34

0.36

0.38

0.4

' ' ' '

TOTAL DEBT RATIO

TOTAL DEBT RA

0

0.5

1

1.5

2

2.5


DEBT EQUITY RATIO

DEBT EQUITY RATIO

VERAGE

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'

TIO

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YEAR Mar '07 Mar '08

Total Debt 25,141.10 27,190.60

Networth 48,596.80 54,267.40

CAPITAL EMPLOYED 73,737.90 81,458.00Interest 2,055.70 1,982.20

PBDIT 13,045.70 14,660.60

TOTAL DEBT RATIO=TOTAL DEBT/CAPITAL EMPLOYED 0.34095221 0.333799013

DEBT EQUITY RATIO=NET WORTH/TOTAL DEBT 1.93296236 1.99581473

INTEREST COVERAGE =EBIDTA/INTEREST 6.346110814 7.396125517

0

0.5

1

1.5

2

2.5


debt equity ratio

debt

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Mar '09 Mar '10 Mar '11

34,567.80 37,797.00 43,188.24

58,994.90 63,724.10 68,384.12

93,562.70 101,521.10 111,572.361,737.00 1,861.90 2,027.21

13,596.40 15,338.90 15,231.39

0.369461334 0.372306841 0.387087268

1.706643177 1.685956557 1.583396777

7.82751871 8.238304957 7.513474184

0

0.05

0.1

0.15

0.2

0.25

0.3

0.35

0.4

0.45


equity ratio

2

3

4

5

6

7

89

interest coverage ratio

interest cov

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0


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total debt ratio

erage ratio

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KK NTPC

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