1. SRIKRISHNACONSULTING COMPANY FINALYTICSAxisBankLtd Exclusive Financial Analysis of Indian Companies PreparedandEditedBy SriKrishnaConsulting DisclaimerTheinformation,opinions,estimatesandforecastscontainedinthisdocumenthavebeenarrivedatorobtainedfrompublicsourcesbelievedtobereliable andingoodfaithwhichhasnotbeenindependentlyverifiedandnowarranty,expressorimplied,ismadeastotheiraccuracy,completenessorcorrectness.Formoreinformationaboutthissampleandourotherservices,pleasewritetoinfo@srikrishnaconsulting.comWednesday,April25,2012

2. DescriptionPage Summary 3LatestResult3ValuationMatrix 3ROEAnalysis 3 IncomeStatement4 BalanceSheet 5 CashflowStatement 6 QuarterlyResult6 GrowthAnalysis 7 ComparativeAnalysis8 IncomeStatement8 BalanceSheet 8 IndexAnalysis9IncomeStatement 9BalanceSheet9 RatioAnalysis10Annual 10Quarterly11 TTMAnalysis11 TechnicalAnalysis12 CONTENT AboutSriKrishnaConsulting Weprovidefinancialresearchandanalyticsservicestoourworldwideclient.Ourresearchiscustomizedandproprietarytoour clientsandoftenprovidedinclientformatsandtemplates.Ourexpertteamofanalystaddcrucialvaluestoclientproprietary methodologyandaddefficiencies. Wehavefourareasofpractice: EquityResearch CreditResearch CommoditiesResearch ConsultancyandStrategy. Withazealtoperform,weadoptbestqualitydrivenprocessandapproaches.Ourqualitydrivenprocessandapproacheshave alreadygiveusaplaceasatoptireproviderofFinancialResearchandAnalytics. FinancialResearchTeam Wehavearobustinvestmentresearchteamwithexpertiseinthefinancialdomain.TheseprofessionalsincludeCFAs,CAsand MBAsspecializinginfinance,withexpertiseininvestmentandretailbanking,equityresearch,financialandsectoralanalysis, etc.Ourdeliveryteamsarethecoreofourbusiness,andwemaintaintheirexceptionalqualitybyselectingpersonnelonthe basisofeducationalandfunctionalexperience.OurHRteamsarealwayssearchingforoutstandingperformers.ContactUs:info@srikrishnaconsulting.comSriKrishnaConsulting.Pleasewriteusformoreinformation:iinfo@srikrishnaconsulting.com|www.srikrishnaconsulting.comPage2 3. SummaryAtaGlanceLatestResultsIndustryFinanceBanksPrivateSectorAnnual QuarterlyTTM BusinessGroupNotApplicable March11Growth December11Growth December11 GrowthFaceValue 10LatestResults NumberofEquityshares5657.8636.532059.20 15.977214.13 5.88GrossProfitoutstanding(inLakhs)4123.163388.4834.761102.27 19.773985.05 5.59ReportedPATAdjustedPAT3395.4634.831102.27 19.773985.05 5.59Price1094.75 MarketCap(Rs.InCr)45138.29ValuationMatrix ShareHoldingAnnualTTMRatioGeneralPublic PromoterParticularsMarch11December11Others 6%37% 10% ReportedP/E13.3211.33Price/SalesPerShare2.33 2.22Price/BookValue2.38NADividendYield(%)1.49NA BFI9% EarningYield(%)7.51 8.83FIIs33% MFMarketCap(Rs.InCr)45138.29 5%ROEAnalysis ROEParticulars March07 March08 March09March10March1125%20% ReportedPAT/PBT0.580.590.650.630.66 15%10% AdjustedPAT/PBT0.610.600.650.630.665%PBT/Sales0.200.210.210.260.270%Sales/BankingAssets 0.080.080.090.090.08 March March March March March 07 08 09 10 11 BankingAssets/NetWorth20.7812.07 13.99 10.94 12.41ReportedROE 19% 12% 17%16% 18%ReportedROE AdjustedROEAdjustedROE 20% 12% 17%16% 18% ROEFactors 20% 25.00 18% 16% 20.00 14% 12% 15.00 10%8% 10.006%4% 5.002%0% 0.00March07March08 March09March10 March11ReportedROEReportedPAT/PBTPBT/SalesSales/BankingAssets BankingAssets/NetWorth SriKrishnaConsulting.Pleasewriteusformoreinformation:iinfo@srikrishnaconsulting.com|www.srikrishnaconsulting.comPage3 4. IncomeStatementParticulars(Rs.InCr)March07March08 March09March10March11 OperatingIncome5461.608750.6813550.95 15407.74 19343.63OperatingExpensesFinancialExpenses2993.324419.967149.27 6633.538591.82PersonnelExpenses 381.35670.25997.66 1255.821613.90SellingExpenses 29.62 74.4146.3247.27 79.02 OperatingIncomeAdminstrativeExpenses 864.231551.272357.78 3529.353752.0525000.00ExpensesCapitalised0.000.00 0.00 0.00 0.0020000.00TotalOperatingExpenses 4268.526715.8910551.03 11465.97 14036.79 OperatingProfit1193.082034.792999.92 3941.775306.84 15000.00OtherIncome21.24 13.8681.81 202.17351.0210000.00GrossProfit 1214.322048.653081.73 4143.945657.86ProvisionsMade 21.70 69.48 99.39(101.16) 224.89 5000.00Depreciation111.86158.11188.67 234.32289.59OtherWriteoffs0.000.000.00 0.000.000.00EBT1080.761821.062793.67 4010.785143.38March March March March March07 08 09 10 11IncomeTax418.82734.86970.12 1492.371747.92 AdjustedPAT 661.941086.201823.55 2518.413395.46OperatingIncome OperatingProfitGrossProfitNonRecurringItems(2.91)(15.18) (8.20)(3.87) (6.98)OtherNonCashadjustments(31.80) 0.00 0.00 0.00 0.00 ReportedNetProfit 627.231071.021815.35 2514.543388.48EquityDividend148.79 251.64 420.52567.45 670.36PreferenceDividend0.00 0.00 0.000.00 0.00DividendTax 0.00 0.00 0.000.00 0.00RetainedEarnings 1209.471848.472948.71 4295.176145.57 ProfitLevels TotalIncomeBreakup 6000.00 TotalOperatingExpenses ProvisionsMadeDepreciation OtherWriteoffs 5000.00IncomeTax AdjustedPAT 4000.00 3000.0017% 2000.00 9% 1000.00 0%2%1% 0.00 71%March07March08 March09 March10 March11 OperatingProfit GrossProfitEBTAdjustedPATSriKrishnaConsulting.Pleasewriteusformoreinformation:iinfo@srikrishnaconsulting.com|www.srikrishnaconsulting.comPage4 5. BalanceSheetParticulars(Rs.InCr) March07 March08 March09March10March11CAPITAL&LIABILITIES OwnersFundEquityShareCapital 281.63357.71 359.01 405.17410.55ShareApplicationMoney0.002.19 1.21 0.170.00PeferenceShareCapital0.000.00 0.00 0.000.00Reserves&Surplus3120.58 8410.799854.58 15639.2718588.28TotalOwnersfund3402.218770.6910214.8016044.61 18998.83LoanFundsDeposits 58785.6087626.22 117374.11 141300.22 189237.80Borrowingsmadebythebank 5195.60 5624.0410185.4817169.5526267.88 CapitalStructureOtherLiabilities&Provisions5873.80 7556.90 9947.67 6133.46 8208.86TotalLoanFund 69855.00100807.16 137507.26 164603.23 223714.54 Total73257.21109577.85 147722.06 180647.84 242713.37ASSETSCash&BalanceswithRBI4661.03 7305.66 9419.21 9473.8813886.16 MoneyatcallandShortNotice2257.27 5198.58 5597.69 5732.56 7522.49Investments26897.1633705.1046330.3555974.8271991.62Advances 36876.4859661.1481556.77 104343.12 142407.83 FixedAssetsGrossBlock 1098.93 1384.70 1741.86 2107.98 3426.49Less:RevaluationReserve 0.000.00 0.00 0.000.00Less:AccumulatedDepreciation1098.931384.701741.862107.983426.49NetBlock648.38794.37 1015.40 1165.18 2250.46March07 March08 March09 March10 March11CapitalWorkinprogress 24.82128.4857.4857.2422.69TotalOwnersfundTotalLoanFund OtherAssets 1892.07 2784.51 3745.15 3901.06 4632.12 MiscellaneousExpensesnot writtenoff 0.000.00 0.00 0.00 0.00 Total73257.21109577.84 147722.05 180647.86 242713.37 SourcesofCapital TotalOwnersApplicationofcapital fund8% 3%3%6%29%59%TotalLoanFund 92% Cash&BalanceswithRBI MoneyatcallandShortNotice InvestmentsAdvances FixedAssetsSriKrishnaConsulting.Pleasewriteusformoreinformation:iinfo@srikrishnaconsulting.com|www.srikrishnaconsulting.comPage5 6. CashFlowStatementParticulars(Rs.InCr)March07 March08 March09March10March11ProfitBeforeTax996.241646.272785.193851.36 5135.66 NetCashFlowOperating NetCashFlow Activity 5295.535960.45 10551.63 28.87 11425.07NetCashUsedInInvesting Activity(3655.58)(4702.52)(9741.96)(5122.98) (13985.33)1637.01 4325.79 1692.32 NetCashUsedinFin.Activity8769.69 1637.014325.791692.325304.07 8769.695295.535304.07NetInc/DecInCashAnd 5960.45 10551.6311425.07Equivlnt3276.465585.942512.66 189.54 6204.7528.87CashAndEquivalntBeginof(3655.58) (4702.52) (9741.96) (13985.33Year3641.846918.31 12504.24 15016.9015203.91(5122.98) )CashAndEquivalntEndOfYear6918.31 12504.24 15016.90 15206.4421408.66NetCashFlowOperatingActivityNetCashUsedInInvestingActivityNetCashUsedinFin.ActivityQuarterlyResultSeptemberParticulars(Rs.InCr) December10 March11June11 11 December11Interest/DiscountonAdvance/Bills 2,600.55 3,062.64 3,470.10 3,687.82 3,963.56IncomeonInvestment1,166.83 1,213.06 1,332.84 1,548.64 1,775.23 ProfitLevelsInterestonBalancewithRBI 48.1863.5947.9111.1715.47Others 22.7527.3730.5528.3422.70TotalInterestEarned 3,838.31 4,366.66 4,881.40 5,275.97 5,776.96OperatingExpenditureInterestexpenses 2,105.19 2,665.66 3,157.30 3,268.71 3,636.66EmployeesCost396.16 396.02 509.96498.62542.04Otherexpenses826.19 934.57 823.53967.92968.87TotalOperatingExpenses3,327.54 3,996.25 4,490.79 4,735.25 5,147.57 OperatingProfit 510.77 370.41 390.61540.72629.39OtherIncome1,147.71 1,450.40 1,167.87 1,234.92 1,429.81 ProfitBeforeProvisionand Tax1,658.48 1,820.81 1,558.48 1,775.64 2,059.20Depreciation0.00 0.00 0.00 0.000.00ProvisionandContingenciesOperatingProfitPBT PAT313.88 254.39 175.84405.58422.33 PBT1,344.60 1,566.42 1,382.64 1,370.06 1,636.87Tax 453.24 546.31 440.29449.74534.60 PAT891.36 1,020.11 942.35920.321,102.27PriorYearAdjustment 0.00 0.00 0.00 0.000.00ExtraOrdinaryItem 0.00 0.00 0.00 0.000.00 ReportedProfit891.36 1,020.11 942.35920.321,102.27 SriKrishnaConsulting.Pleasewriteusformoreinformation:iinfo@srikrishnaconsulting.com|www.srikrishnaconsulting.comPage6 7. GrowthAnalysisAverageParticulars(%)March08March09 March10March11Growth 5yearCAGROperatingIncome 60.22 54.8613.70 25.54 31.32 28.78OperatingExpensesFinancialExpenses47.66 61.75(7.21)29.52 26.76 23.48PersonnelExpenses75.76 48.8525.88 28.51 36.51 33.45SellingExpenses 151.22(37.75)2.05 67.17 35.06 21.68AdminstrativeExpenses79.50 51.9949.696.31 35.78 34.13ExpensesCapitalised 0.000.00 0.000.00 0.00 0.00TotalOperatingExpenses 57.34 57.11 8.67 22.42 28.73 26.88 OperatingProfit70.55 47.4331.40 34.63 39.81 34.78OtherIncome (34.75)490.26 147.12 73.63168.17 75.24 GrossProfit68.71 50.4334.47 36.53 41.91 36.04ProvisionsMade220.18 43.05(201.78) 322.31 99.02 59.63Depreciation 41.35 19.3324.20 23.59 24.70 20.95OtherWriteoffs0.000.00 0.000.000.000.00 EBT 68.50 53.4143.57 28.24 41.90 36.62IncomeTax 75.46 32.0153.83 17.12 36.95 33.08 AdjustedPAT64.09 67.8838.10 34.83 45.35 38.68NonRecurringItems (421.65)45.9852.80(80.36)(49.27) 19.12OtherNonCashadjustments100.000.00 0.000.00 10.00 (100.00) ReportedNetProfit70.75 69.5038.52 34.76 46.44 40.12EquityDividend 69.12 67.1134.94 18.14 38.07 35.13PreferenceDividend0.000.00 0.000.000.000.00DividendTax 0.000.00 0.000.000.000.00RetainedEarnings 52.83 59.5245.66 43.08 48.12 38.42GrowthFactors 5YearCAGR 80.00 70.00 38.68 36.04 36.62 60.00 50.00 28.7826.88 40.00 30.00 20.00 10.000.00March08March09 March10March11OperatingIncome TotalOperatingExpensesOperatingTotalGrossProfit EBTAdjustedPATGrossProfit IncomeTaxIncome OperatingAdjustedPATExpensesSriKrishnaConsulting.Pleasewriteusformoreinformation:iinfo@srikrishnaconsulting.com|www.srikrishnaconsulting.comPage7 8. ComparativeAnalysis IncomeStatementParticulars(%)March07 March08 March09March10March11OperatingIncome100.00 100.00 100.00100.00100.00OperatingExpensesFinancialExpenses54.8150.5152.7643.0544.42 ComparativeProfitPersonnelExpenses 6.98 7.66 7.36 8.158.34SellingExpenses 0.54 0.85 0.34 0.310.41AdminstrativeExpenses15.8217.7317.4022.9119.40ExpensesCapitalised 0.00 0.00 0.00 0.000.00TotalOperatingExpenses 78.1676.7577.8674.4272.57 OperatingProfit21.8423.2522.1425.5827.43OtherIncome0.39 0.16 0.60 1.311.81 GrossProfit22.2323.4122.7426.9029.25ProvisionsMade0.40 0.79 0.73(0.66) 1.16Depreciation2.05 1.81 1.39 1.521.50OtherWriteoffs0.00 0.00 0.00 0.000.00 EBT 19.7920.8120.6226.0326.59 March07 March08 March09 March10 March11IncomeTax7.67 8.40 7.16 9.699.04 OperatingProfitGrossProfitAdjustedPAT EBT AdjustedPAT12.1212.4113.4616.3517.55NonRecurringItems (0.05) (0.17) (0.06) (0.03)(0.04)OtherNonCashadjustments (0.58)0.00 0.00 0.000.00 ReportedNetProfit11.4812.2413.4016.3217.52 BalanceSheetParticulars(%)March07 March08 March09March10March11CAPITAL&LIABILITIES OwnersFundComparativeAnalysisSourcesofEquityShareCapital 0.38 0.33 0.24 0.220.17 FundShareApplicationMoney0.00 0.00 0.00 0.000.00PeferenceShareCapital0.00 0.00 0.00 0.000.00 77.97Reserves&Surplus 4.26 7.68 6.67 8.667.66 TotalOwnersfund4.64 8.00 6.91 8.887.83 LoanFunds 7.8310.823.38Deposits80.2579.9779.4678.2277.97Borrowingsmadebythe 7.09 5.13 6.90 9.5010.82OtherLiabilities&8.02 6.90 6.73 3.40 3.38 TotalLoanFund 95.3692.0093.0991.1292.17TotalOwnersfund Total 100.00 100.00 100.00 100.00100.00DepositsASSETSBorrowingsmadebythebankCash&BalanceswithRBI 6.36 6.67 6.38 5.245.72OtherLiabilities&Provisions MoneyatcallandShort 3.08 4.74 3.79 3.173.10 Investments36.7230.7631.3630.9929.66Advances50.3454.4555.2157.7658.67 FixedAssetsGrossBlock1.50 1.26 1.18 1.171.41Less:RevaluationReserve0.00 0.00 0.00 0.000.00Less:Accumulated1.50 1.26 1.18 1.171.41NetBlock0.89 0.72 0.69 0.650.93CapitalWorkinprogress 0.03 0.12 0.04 0.030.01 OtherAssets2.58 2.54 2.54 2.161.91 MiscellaneousExpensesnot 0.00 0.00 0.00 0.000.00 Total 100.00 100.00 100.00 100.00100.00 SriKrishnaConsulting.Pleasewriteusformoreinformation:iinfo@srikrishnaconsulting.com|www.srikrishnaconsulting.comPage8 9. IndexAnalysis IncomeStatementParticularsMarch07 March08 March09March10March11OperatingIncome100.00 160.22 248.11282.11354.18 OperatingExpensesFinancialExpenses 100.00 147.66 238.84221.61287.03PersonnelExpenses 100.00 175.76 261.61329.31423.21 ProfitIndexSellingExpenses 100.00 251.22 156.38159.59266.78AdminstrativeExpenses 100.00 179.50 272.82408.38434.15ExpensesCapitalisedTotalOperatingExpenses100.00 157.34 247.18268.62328.84 OperatingProfit 100.00 170.55 251.44330.39444.80OtherIncome100.0065.25 385.17951.84 1652.64 GrossProfit 100.00 168.71 253.78341.26465.93 March07 March08 March09 March10 March11ProvisionsMade100.00 320.18 458.02(466.18) 1036.36Depreciation100.00 141.35 168.67 209.48 258.89OtherWriteoffs0.00 0.00 0.00 0.00 0.00GrossProfitEBT 100.00 168.50 258.49371.11475.90AdjustedPATIncomeTax100.00 175.46 231.63356.33417.34ReportedNetProfit AdjustedPAT 100.00 164.09 275.49380.46512.96OperatingIncomeNonRecurringItems100.00 521.65 281.79132.99239.86OtherNonCashadjustments100.00 0.00 0.00 0.000.00ReportedNetProfit100.00 170.75 289.42400.90540.23 BalanceSheetParticularsMarch07 March08 March09March10March11CAPITAL&LIABILITIES OwnersFundEquityShareCapital 100.00 127.01 127.48143.87145.78LiabilityIndexShareApplicationMoney0.00 0.00 0.000.000.00PeferenceShareCapital0.00 0.00 0.000.000.00Reserves&Surplus 100.00 269.53 315.79501.17595.67 TotalOwnersfund100.00 257.79 300.24471.59558.43 LoanFundsDeposits 100.00 149.06 199.66240.37321.91Borrowingsmadebythe 100.00 108.25 196.04330.46505.58OtherLiabilities&100.00 128.65 169.36104.42139.75 TotalLoanFund100.00 144.31 196.85235.64320.26Total 100.00 149.58 201.65246.59331.32March07 March08 March09 March10 March11ASSETS TotalOwnersfundTotalLoanFundCash&BalanceswithRBI 100.00 156.74 202.08203.26297.92MoneyatcallandShort100.00 230.30 247.98253.96333.26Investments100.00 125.31 172.25208.11267.66Advances 100.00 161.79 221.16282.95386.18FixedAssetsGrossBlock100.00 126.00 158.51191.82311.80Less:RevaluationReserve0.00 0.00 0.000.000.00Less:Accumulated100.00 126.00 158.51191.82311.80NetBlock100.00 122.52 156.61179.71347.09CapitalWorkinprogress 100.00 517.65 231.59230.62 91.42 OtherAssets100.00 147.17 197.94206.18244.82 MiscellaneousExpensesnot0.00 0.00 0.000.000.00 Total100.00 149.58 201.65246.59331.32 SriKrishnaConsulting.Pleasewriteusformoreinformation:iinfo@srikrishnaconsulting.com|www.srikrishnaconsulting.comPage9 10. RatioAnalysisParticulars(Annual) March07 March08 March09 March10March11CapitalAdequacyRatio 11.5713.7313.69 15.8012.65EARNINGSRATIOSIncomefromFund49.48 54.23 55.09 51.8353.78PerShareRatioAdvancesasa%ofOpIncomeOperatingIncomeasa%of14.81 14.66 16.61 14.7613.58WorkingFundsFundbasedincomeasa%85.58 84.55 83.65 82.8082.21ofOpIncomeFeebasedincomeasa%of14.41 15.44 16.34 17.1917.78OpIncomePROFITABLITYRATIOSYieldonFundAdvances 7.327.959.157.65 7.30BreakEvenYieldRatio 8.117.408.766.35 6.03CostofFundsRatio4.674.735.604.18 3.98March07 March08 March09 March10 March11NetProfitMargin 12.01 12.22 13.31 16.1017.20AdjustedReturnOnNet19.45 12.38 17.85 15.6917.87YieldonFundAdvancesWorthBreakEvenYieldRatioReportedReturnOnNet19.37 12.21 17.77 15.6717.83WorthCostofFundsRatioBORROWINGRATIOS NetProfitMarginBorrowingsfromRBIas% 0.000.00 10.59 0.000.00toTotalBorrowingsBorrowingsfromother 11.540.002.94 2.645.41banksasa%toTotalBorrowingsfromothersasa 23.179.72 16.02 40.3724.39 DepositRatio%toTotalBorrowingsBorrowingswithinIndiaas34.719.72 29.56 43.0129.81a%toTotalBorrowingsBorrowingsfromoutside 65.28 90.27 70.43 56.9870.18Indiaasa%toTotal DEPOSITRATIOSDemandDepositofTotal 19.22 22.87 21.14 22.7619.50DepositsSavingDepositofTotal 20.62 22.80 21.99 23.9621.58DepositsTimeDepositofTotal 60.14 54.32 56.85 53.2758.90DepositsDepositswithinIndiaas%99.63 98.59 97.93 97.0896.53toTotalDeposits March07 March08 March09 March10 March11DepositsOutsideIndiaas%0.361.402.06 2.913.46toTotalDepositsDemandDepositofTotalDeposits PERBRANCHRATIOS SavingDepositofTotalDepositsOperatingIncomePer 9.74 13.04 16.23 14.8913.92Branch TimeDepositofTotalDepositsOperatingProfitPerBranch2.133.033.59 3.813.82NetProfitPerBranch1.181.622.18 2.432.44PersonnelExpensesPer 0.681.001.19 1.211.16BranchAdministrativeExpenses1.542.312.82 3.412.70 PerBranchRatioPerBranchFinancialExpensesPer 5.346.598.56 6.416.18BranchBorrowingsPerBranch9.268.38 12.20 16.5918.90DepositsPerBranch104.79130.59140.57136.52 136.14 PEREMPLOYEERATIOSOperatingIncomePer 5472542.385937094.246570475.717120025.42 7317430.49 March March March March MarchEmployee 070809 1011OperatingProfitPer 1195476.651380554.041454576.461821519.59 2007506.56OperatingIncomePerBranchEmployee NetProfitPerBranchNetProfitPerEmployee 663264.93 736959.83 884192.351163772.64 1284458.79BorrowingsPerBranchPersonnelExpensesPer382110.32 454745.30 483738.61 580324.35610516.40EmployeeDepositsPerBranchDepositsPerEmployee 58903407.92 59451944.23 56911416.41 65295849.1271586079.44FundAdvancesPer 36950383.97 40478420.92 39544591.64 48217707.3953870939.51Employee SriKrishnaConsulting.Pleasewriteusformoreinformation:iinfo@srikrishnaconsulting.com|www.srikrishnaconsulting.comPage10 11. RatioAnalysis SeptemberParticulars(Quarterly)December10 March11 June11 11 December11 PERSHARERATIOS QuarterlyProfitMarginOperatingIncomePerShare(Rs.) 93.09 105.91118.39127.96140.11OperatingProfitPerShare(Rs.) 12.39 8.989.4713.1115.26AdjustedEPS(Rs.)21.6224.74 22.8622.3226.73PROFITABILITYRATIOSOperatingProfitMargin(%) 13.31 8.488.0010.2510.89GrossProfitMargin(%) 33.2631.30 25.7627.2728.57NetProfitMargin(%) 17.8817.54 15.5814.1415.29 OTHERSRATIOCAR12.4612.65 12.5311.3511.78GrossNPA(%) 1.09 1.011.06 1.08 1.10NetNPA(%) 0.29 0.260.31 0.34 0.39 OperatingProfitMargin(%) GrossProfitMargin(%) TTMAnalysisNetProfitMargin(%)Particulars(Rs.InCr)September11 %ofSales December11 %ofSales Growth(%)Interest/DiscountonAdvance/Bills 12821.1169.82 14184.12 69.8710.63 TTMGrowth(%)IncomeonInvestment 5261.3728.65 5869.7728.9111.56InterestonBalancewithRBI170.85 0.93138.14 0.68(19.15)Others109.01 0.59108.96 0.54 (0.05) 10.5611.00TotalInterestEarned 18362.34 100.00 20300.99 100.00 10.566.545.59OperatingExpenditure 0.00 0.000.00 0.00 NAInterestexpenses 11196.8660.98 12728.33 62.7013.68EmployeesCost 1800.76 9.81 1946.64 9.598.10 Total Total Operating PAT InterestOperatingProfitOtherexpenses 3552.2119.35 3694.8918.204.02EarnedExpensesTotalOperatingExpenses16549.8390.13 18369.86 90.4911.00 OperatingProfit1812.51 9.87 1931.13 9.516.54OtherIncome 5000.9027.23 5283.0026.025.64ProfitBeforeProvisionandTax6813.4137.11 7214.1335.545.88Depreciation0.00 0.000.00 0.00 NATTMEPS&SPSProvisionandContingencies 1149.69 6.26 1258.14 6.209.43 PBT 5663.7230.84 5955.9929.345.16Tax1889.5810.29 1970.94 9.714.31 PAT 3774.1420.55 3985.0519.635.59PriorYearAdjustment 0.00 0.000.00 0.00 NAExtraOrdinaryItem 0.00 0.000.00 0.00 NA ReportedProfit 3774.1420.55 3985.0519.635.59TTMEPS91.5496.655.58TTMSPS 445.35 492.36 10.56September11December11SriKrishnaConsulting.Pleasewriteusformoreinformation:iinfo@srikrishnaconsulting.com|www.srikrishnaconsulting.comPage11 12. TechnicalAnalysisPriceChart1400800000012007000000600000010005000000800400000060030000004002000000200 1000000 0021Nov31Jan 13AprTotalTradedQuantityClosePriceEMA(200)EMA(50) 100.0050.00 0.00 50.00100.00 MACDSignalline100 80 60 40 200 RSI(14)TechnicalIndicatorsPrice1094.75ASOn:25/04/2012EMA(13)1161.56ADX11EMA(26)1147.61DX 23EMA(50)1119.98+DI15EMA(200) 1178.53DI24RSI(14)38.19%K(Fast)0MACD 13.95%K(Slow)0William(%R)100.00%d(Slow) 19.67 SriKrishnaConsulting.Pleasewriteusformoreinformation:iinfo@srikrishnaconsulting.com|www.srikrishnaconsulting.comPage12 13. 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