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SECTOR: EDIBLE OIL REPORTING DATE: 14TH AUGUST, 2017

RASOYA PROTEINS LTD www.rasoyaproteins.in

Rasoya Proteins Ltd NSE Code - RASOYPR TABLE 1 - MARKET DATA (STANDALONE) (AS ON 6TH AUGUST, 2017)

Sector - Edible Oil NSE Market Price (`) 0.15 NSE Market Cap. (₹ Cr.) 27.34

Face Value (`) 1.00 Equity (` Cr.) 170.89

Business Group – N.A. 52 week High/Low (₹) 0.25/0.1 Net worth (₹ Cr.)* -26.07

Year of Incorporation - 1992 TTM P/E (TTM) N.A. Traded Volume (Shares) 7,07,735

TTM P/BV N.A. Traded Volume (lacs) 1.06

Registered Office – Source - Capitaline, TTM - Trailing Twelve Months, N.A – Not Applicable, * As on 30th Sept, 2016.

Wanjari Village, Wani Taluka, COMPANY BACKGROUND

Yavatmal - 445 304, Maharashtra Maharashtra Soya Industries was incorporated as a public limited company in May '92 to

establish a solvent extraction plant and a vegetable oil refinery.

Company has change its name from Maharashtra Soya Industries Ltd to Rasoya Proteins

Limited.

The company set up a solvent extraction plant and a vegetable oil refinery at Wanjri near

Nagpur in Maharashtra. It produces refined edible vegetable oil through solvent

extraction process from soyabeans and oil cakes. De-oiled cakes -- the by-product, is used

as cattle feed, poultry feed and high protein food products.

Company Website:

www.rasoyaproteins.in

Revenue and Profit Performance

The revenue of the Company decreased from ₹ 30.95 crores

to ₹ 11.01 crores from quarter ending Sep’15 to quarter

ending Sep’16. The Company made a loss of ₹ 4.59 crores in

quarter ending Sep’16 vis-a-vis making a loss of ₹ 43.51 crores

in quarter ending Sep’15.

Source - Money Control

Performance vis-à-vis Market

TABLE 2- Returns

1-m 3-m 6-m 12-m

Rasoya Proteins Ltd -25.00% 0.00% -25.00% 0.00%

Nifty 2.93% 6.53% 14.37% 17.05%

NIFTY FMCG 6.75% 12.84% 8.64% 35.03%

Source – Capitaline / NSE

-

0.50

1.00

1.50

2.00

Aug16

Sep16

Oct16

Nov16

Dec16

Jan17

Feb17

Mar17

Apr17

May17

Jun17

Jul17

Rasoya Proteins Ltd NIFTY NIFTY FMCG

11.01 9.16 30.95

-4.59

-123.41

-43.51

-150

-100

-50

0

50

Sep'16 Mar'16 Sep'15

Quarterly revenue and Profit (₹ CRORE)

Revenue Profit

http://www.rasoyaproteins.in/




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TABLE 3 - FINANCIALS

(₹ Cr.) Sep’16 Mar’16 Sep’15 % Change

Sep ’16 vs Mar’16 Mar’16 vs Sep’15

Net Worth -26.07 -18.57 237.40 N.A. -1.08

Current Assets 10.67 11.08 85.30 -0.04 -0.87

Non-Current Assets 453.58 463.80 667.92 -0.02 -0.31

Total Assets 464.25 474.89 753.22 -0.02 -0.37

Investments 0.26 0.26 0.21 0.00 0.25

Finance Cost -0.01 -0.71 1.17 N.A. -1.61

Long Term Liabilities 197.70 204.24 209.42 -0.03 -0.02

Current Liabilities 292.62 289.22 306.40 0.01 -0.06

Turnover 10.73 8.09 30.12 0.33 -0.73

Profit After Tax (PAT) -4.59 -123.41 -43.51 N.A. N.A.

EPS (₹) -0.03 -0.72 -0.25 N.A. N.A.

Source - Money Control/ Stock Exchange Filing

AUDIT QUALIFICATIONS

Audit Qualifications: The Auditors have raised qualification in last two years (viz. FY 2015-16 and 2014-15). Auditors

qualifications along with management response on Auditors qualification have been reproduce below.

Audit Qualifications – FY 2015-2016

a) During the year, the company has written off trade receivable to the extent of ₹197.91 crores. We are not completely

satisfied about the write off of these trade receivables without the company having taken proper recovery efforts or

legal action.

b) During the year, the company has written off stock worth ₹92.82 crores. However, subsequently the company has sold

the stock at scrap value, proceeds of which are shown under miscellaneous receipts. However, we cannot comment on

the quality of the stock since there was no appropriate certification from any outside agency regarding such stock.

c) Statement / confirmation for the bill discounting facility taken by the company for ₹19.99 crores from Bank of Baroda,

cash credit facilities from State Bank of India for ₹68.32 crores and secured loan taken from a NBFC outstanding for ₹ 5

crores was not made available for verification and the same is subject to confirmation from the respective companies.

d) As per the accounting policy of the company and as per the Accounting Standard -11 – The Effects of Changes in Foreign

Exchange rates; the exchange differences that arise on settlement of monetary items or on reporting at each balance

sheet date of the Company's monetary items at the closing rate are recognised as income or expense in the period in

which they arise. However, the company has not recognised exchange gain of ₹41 crores on account of advance given to

a subsidiary company.

e) The company in contravention of section 138 of the Companies Act, 2013 has not appointed any internal auditor with

regards to the internal audit of the company. Also, the company has not appointed any cost auditor for the year under

review which is contravention of sub section (2) of section 148 of the Companies Act, 2013.

f) Attention of the members is invited to note no. 30 regarding the financial statements of the Company having been

prepared on a going concern basis, notwithstanding the fact that its net worth is completely eroded due to cash losses in

previous and the year under review, inability to pay bank debts, substantial write offs of trade receivables and stock. The

appropriateness of the said basis is inter alia dependent on the Company's ability to infuse requisite funds for meeting

its obligations.

Management Response – FY 2015-2016

a) The Company is facing acute shortage of recovery staff and due to the peculiar nature of industry; the previous debts

are recovered when new goods are supplied. Since the Company is not able to manufacture and supply fresh stock,

debtors are not paying old dues. In order to arrive at correct picture the Company has written off Debts worth ₹ 197.91

crores and is in the process of initiating legal action against them.

b) The Company's Technical and Production General Manager conducted physical stock verification and valuation of

inventories in the form of Raw material and Finished Goods. Based on form, status and reliability of inventory they have

identified the stock worth ₹92.82 Crores unfit for production and human and animal consumption hence during the year




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the company has sold substantial stock as scrap and the balance stock was written off to arrive at the correct picture of

the company

c) The company has made repeated request to Bank of Baroda, State Bank of India and NBFC asking them to provide them

the balance confirmation certificate in respect of the fund based facilities sanctioned to the company. However, in spite

of our repeated request they have not provided the balance confirmation and hence same was not made available

d) Foreign Exchange Gain ₹41 Crores has not been recognized in accordance with AS 11, as same pertains to the

outstanding loan to WOS at Sharjah which is not likely to be repaid by the WOS in near future since the said funds have

been earmarked for overseas operations of the company

e) During the year under review the major manufacturing facilities of the company was not in operation and with very

marginal turnover the Company has incurred heavy cash Losses. Under the given situation, the overall manpower

strength along with persons capable of handling audits and accounts was reduced drastically and hence could not also

appoint internal / cost auditor. Directors of your company will take appropriate steps to comply with the provision of the

companies Act, 2013 relating to the appointment and conduct of audit.

f) Notwithstanding the above facts the accounts of the company have been prepared on the assumption of going concern.

This is because the management is positive with regards to settlement of bank dues and infusion of fresh funds into the

company to meet the future obligations and once again to start the manufacturing facilities.

Audit Qualifications – FY 2014-2015

a) We have come across transactions of sale to the extent of ₹69.83 crores and purchase to the extent of ₹ 24 crores where

there are no adequate supporting documents trail which would prove the proper transfer of goods and completeness of

these transactions.

b) Attention is drawn to Paragraphs (ii) (c) and (iv) of the annexure to this report as regards to maintenance of inventory

records and internal control system respectively.

c) Bank statement for the bill discounting facility taken by the company for ₹19.99 crores from Bank of Baroda was not

made available for verification and the same is subject to confirmation from the bank.

d) As per the accounting policy of the company and as per the Accounting Standard -11 The Effects of Changes in Foreign

Exchange rates; the exchange differences that arise on settlement of monetary items or on reporting at each balance

sheet date of the Company's monetary items at the closing rate are recognised as income or expense in the period in

which they arise. However, the company has not recognised exchange gain of ₹29 crores on account of advance given to

a subsidiary company.

Management Response – FY 2014-2015

a) Sales transactions of Soya DOC amounting to ₹69.83 Crores as pointed out by the Auditors are the Exfactory sales made

to the new purchasers out of the return goods received from earlier purchaser. The necessary supporting documents

related to above sales such as Sales Invoice, Delivery Order, Weighment Slips, Security records and other records to the

extent available with us were made available to the Auditors.

Regarding purchases of ₹24 Crores of Soaya bean Seeds made from unregistered dealers (URD), the necessary

supporting documents such as ERP System generated relevant Contract Notes /Purchase Orders, Weighment Slips,

Goods Received Notes /DOs have been made available to the auditors. The Sauda Kacchi Chitthi instead of invoices is

issued by the URD Traders as per the prevailing trade practices related to Agro based commodity.

b) As mentioned in para (ii) (c) of the Annexure to audit Report regarding complete trail of supporting documents related

to sales and purchases and it's impact on stock records, the clarification has been given in para (a) above.

As mentioned in para (iv) of the Annexure to audit Report regarding inadequate internal control system commensurate

with the size of the company and it's nature of business with regards to purchase of inventories, sale of goods and

services, inventory management, debtors and creditors management- the clarification has been already given in para

(a) above.

c) Since the company has furnished the Corporate Guarantee to Bank of Baroda on behalf of the seed suppliers and the

Liability of ₹19.99 Crores for Repayment to Bank of Baroda has been crystallised due to non-payment of Bills Discounted

by the respective Borrowers/seed suppliers on respective due date, towards the Seed supplies made to the Company.

The Bills Discounting Facility is availed by the respective Seed Suppliers in individual capacity from Bank of Baroda and

not by the company, hence question of the having the Bank statements for the said facility with the company does not

arise.




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Therefore, the company is not in a position to furnish any Bank Statement for said crystallized liability under Corporate

Guarantee furnished to Bank of Baroda.

d) Foreign Exchange Gain ₹ 29 Crores has not been recognized in accordance with AS 11, as same pertains to the o/s loan

to WOS at Sharjah which is not likely to be repaid by the WOS in near future since the said funds have been earmarked

for overseas operations of the company.

Response Comment

Frequency of Qualifications In last 2 Financial Years

Have the auditors made any adverse

remark in last 3 years? No

Are the material accounts audited by the

Principal Auditors? No

The proportion of 51.53% total assets as per the consolidated

accounts, which have not been audited by statutory Auditors

represent significant amount of the total assets. SES is of the

opinion that unless a material portion is audited by Auditors giving

audit report on consolidated accounts, in accordance with

Guidelines of Institute of Chartered Accountants of India, the

certifying Auditors cannot be called a Principal Auditors.

Do the financial statements include

material unaudited financial statements? Yes

The consolidated financial statements contain unaudited accounts

of 2 subsidiaries. The unaudited statements are material as it

represents 52.53% of total assets and 19.56% of total revenue with

respect to the consolidated accounts of the Company. As a material

part of the consolidated financial statements of the Company are

unaudited, this raises concern regarding the fairness of such

financial statements.

TABLE 4: BOARD PROFILE (AS PER ANNUAL REPORT 2015-16)

Regulatory Norms Company

% of Independent Directors on the Board 50% 50%

% of Promoter Directors on the Board - 50%

Number of Women Directors on the Board At least 1 1

Classification of Chairman of the Board - Executive Promoter Director

Is the post of Chairman and MD/CEO held by the same person? - Yes

Average attendance of Directors in the Board meetings (%) - 81.82%

Composition of Board: As per Regulation 17(1)(b) of the Listing Regulations, 2015, the Company should have at least 50%

Independent Directors as the Chairman of the Board is a Promoter Executive Director. The Company has 50% of Independent

Directors and hence, it meets the regulatory requirement.

Board Diversity: The Company has 4 directors out of which 3 are male and 1 is female.


http://www.icai.org/resource_file/17633Link_39_600SA-AAS10.pdf



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TABLE 5 - FINANCIAL RATIOS

Ratios Sep’16 Mar’16 Sep’15

% Change

Sep ’16 vs

Mar’16

Mar’16 vs

Sep’15

Turn

ove

r

Rat

ios

Inventory Turnover 3.39 1.86 0.44 82.32% 318.90%

Debtors Turnover 2.07 2.59 2.38 -20.20% 8.79%

Fixed asset Turnover 0.02 0.02 0.05 35.62% -61.32%

Current Asset Turnover 1.01 0.73 0.35 37.72% 106.77%

Ret

urn

Rat

ios Operating Profit Margin 4.10% -1587.14% -22.61% N.A. N.A.

Net Profit Margin -42.78% -1525.46% -144.46% N.A. N.A.

Return on Assets (ROA) N.A. N.A. N.A. N.A. N.A.

Return on Equity (ROE) N.A. N.A. N.A. N.A. N.A.

Return on Capital Employed (ROCE) N.A. N.A. N.A. N.A. N.A.

Liq

uid

ity

Rat

ios

Current Ratio 0.04 0.04 0.28 -4.82% -86.24%

Quick Ratio 0.03 0.02 0.06 10.22% -59.22%

Cash Ratio 0.01 0.01 0.02 -36.50% -21.07%

Working Capital Turnover ratio N.A. N.A. N.A. N.A. N.A.

Solv

en

cy

Rat

ios Debt to equity ratio N.A. N.A. 1.54 N.A. N.A.

Interest Coverage Ratio -44.00 N.A. N.A. N.A. N.A.

Trad

ing

Rat

ios Market Cap / Sales 2.39 4.22 1.70 -43.46% 148.21%

Market Cap/ Net Worth N.A. N.A. 0.22 N.A. N.A.

Market Cap/PAT N.A. N.A. N.A. N.A. N.A.

Market Cap/EBITDA 58.25 N.A. N.A. N.A. N.A.

Source - Money Control

TABLE 6 - TRADING VOLUME

Jun-17 Dec-16 Jun-16 % Change

June 17 vs Dec 16 Dec 16 Vs June 16

Trading Volume (shares) (avg. of 1 qtr) 11,77,233 9,38,234 10,84,844 25.47% -13.51%

Trading Volume (shares) (high in 1 qtr) 1,21,64,707 38,86,322 87,30,361 213.01% -55.48%

Trading Volume (shares) (low in 1 qtr) 70,637 99,722 1,43,141 -29.17% -30.33%

Ratio - High/low trading volume 172.21 38.97 60.99 341.90% -36.10%

Ratio - High/average trading volume 10.33 4.14 8.05 149.47% -48.53%

Source - Capitaline




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TABLE 7 (A): OWNERSHIP & MANAGEMENT RISKS

30-Jun-17 31-Dec-16 30-Jun-16 Comments

Shar

eho

ldin

g (%

)

Promoter shareholding 17.80 19.28 19.28 • No new equity shares were issued during

the period from June 2016 to June 17.

• The promoter shareholding decreased

from 19.28% as on June 2016 to 17.80% as

on June 2017 due to sale of shares in

secondary market.

• The shareholding of public institution

increased from 7.18% to 7.19% and the

public others increased from 73.54% to

75.01% during the same period.

• The promoters have pledged 17.8% of

their shareholding.

Public - Institutional

shareholding 7.19 7.19 7.18

Public - Others

shareholding 75.01 73.54 73.54

Non-Promoter Non-

Public Shareholding 0.00 0.00 0.00

Source - NSE

MAJOR SHAREHOLDERS (AS ON 30TH June, 2017)

S. No. Promoters Shareholding S. No. Public Shareholders Shareholding

1 Anil Narayan Lonkar 8.69% 1 IDBI Bank Ltd 6.10%

2 Ivory Exports Private Limited 2.93% 2 Amaleswara Rao Anagani 2.93%

3 Manik Anil Lonkar 2.18% 3 Religare Finvest Ltd 1.24%

4 Akshaya Lonkar 1.92% 4 Kallakathu Mathai George 1.12%

5 Rasoya Foods and Drinks Pvt Ltd 1.09%

Source - NSE

TABLE 7 (B): OWNERSHIP & MANAGEMENT RISKS

Market Activity of Promoters The Promoters of the Company sold 5,78,32,870 shares in the secondary market in last one

year.

Preferential issue to promoters No preferential issue of shares was made to the promoters in last one year.

Preferential issue to others No preferential issue of shares was made to other shareholders during last one year.

GDRs issued by the Company The Company did not issue any GDRs during last one year

Issue of ESOPs/Issue of shares

other than Preferential allotment The Company did not issue any shares to the employees under ESOP Scheme in last one year.

Source - Annual Report 2015-16

TABLE 8: PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

Sr. No. Name and Description of main products / services % to Total turnover of the Company

1 Manufacture of vegetable oils and fats through solvent extraction 25.07

2 Manufacture of fish meal 56.28

Source - Annual Report 2015-16




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Glossary

Equity: The equity shares capital of the Company

Net Worth: The amount by which the Assets exceeds the liabilities excluding shareholders’ funds of the Company

Turnover: The revenue earned from the operations of the Company

EPS: Earning Per Share is net profit earned by the Company per share

𝐸𝑃𝑆 =Profit After Tax

Number of outstanding shares

P/E ratio: It is the ratio of the Company’s share price to earnings per share of the Company

𝑃/𝐸 𝑟𝑎𝑡𝑖𝑜 =Price of each share

Earnings per share

Current Assets: Cash and other assets that are expected to be converted to cash in one year

Fixed Assets: assets which are purchased for long-term use and are not likely to be converted quickly into cash, such as land,

buildings, and equipment

Total Assets: Current Assets + Fixed Assets

Investments: An investment is an asset or item that is purchased with the hope that it will generate income or appreciate in

the future.

Finance Cost: The Financing Cost (FC), also known as the Cost of Finances (COF), is the cost and interest and other charges

incurred during the year in relation to borrowed money.

Long Term Liabilities: Long-term liabilities are liabilities with a maturity period of over one year.

Current Liabilities: A company's debts or obligations that are due within one year.

Inventory Turnover ratio: Inventory Turnover is a ratio showing how many times a company's inventory is sold and replaced

over a period.

𝐼𝑛𝑣𝑒𝑛𝑡𝑜𝑟𝑦 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover

Inventory

Debtors Turnover: Accounts receivable turnover is an efficiency ratio or activity ratio that measures how many times a business

can turn its accounts receivable into cash during a period

𝐷𝑒𝑏𝑡𝑜𝑟𝑠 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover

Accounts recievables

Fixed Asset Turnover: The fixed-asset turnover ratio is a financial ratio of net sales to fixed assets

𝐹𝑖𝑥𝑒𝑑 𝐴𝑠𝑠𝑒𝑡 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover

Fixed Assets

Current Asset Turnover: The current-asset turnover ratio is a financial ratio of net sales to fixed assets

𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐴𝑠𝑠𝑒𝑡 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover

Current Assets

Operating Profit Margin: Operating margin is a measurement of what proportion of a Company’s revenue is left over after

paying for variable costs of production such as wages, raw materials etc. It can be calculated by dividing a Company’s operating

income (also known as “operating profit”) during a given period by its sales during the same period.

𝑂𝑝𝑒𝑟𝑎𝑡𝑖𝑛𝑔 𝑃𝑟𝑜𝑓𝑖𝑡 𝑀𝑎𝑟𝑔𝑖𝑛 =Operating profit

Sales Turnover

Net Profit Margin: Net profit margin is the percentage of revenue left after all expenses have been deducted from sales

𝑁𝑒𝑡 𝑃𝑟𝑜𝑓𝑖𝑡 𝑀𝑎𝑟𝑔𝑖𝑛 =Net profit

Sales Turnover




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Return on Assets: ROA tells you what earnings were generated from invested capital (assets)

𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐴𝑠𝑠𝑒𝑡𝑠 =Net profit

Total Assets

Return on equity/net worth: return on equity (ROE) is the amount of net income returned as a percentage of shareholders’

equity.

𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐸𝑞𝑢𝑖𝑡𝑦 =Net profit

Net worth

Return on Capital Employed: Return on capital employed (ROCE) is a financial ratio that measures a company's profitability

and the efficiency with which its capital is employed.

𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝐸𝑚𝑝𝑙𝑜𝑦𝑒𝑑 =Net profit

Total Debt + Equity share capital

Current ratio: The current ratio is a financial ratio that measures whether or not a firm has enough resources to pay its debts

over the next 12 months. It compares a firm's current assets to its current liabilities.

𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝑟𝑎𝑡𝑖𝑜 =Current Assets

Current Liabilities

Quick ratio: The quick ratio is a measure of how well a Company can meet its short term financial liabilities.

𝑄𝑢𝑖𝑐𝑘 𝑟𝑎𝑡𝑖𝑜 =Current Assets − Inventories

Current Liabilities

Cash ratio: The ratio of the liquid assets of a Company to its current liabilities.

𝑄𝑢𝑖𝑐𝑘 𝑟𝑎𝑡𝑖𝑜 =Current Assets − Inventories − Account Recievables

Current Liabilities

Working Capital Turnover ratio: The working capital turnover ratio is also referred to as net sales to working capital. It indicates

a Company's effectiveness in using its working capital.

𝑊𝑜𝑟𝑘𝑖𝑛𝑔 𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =𝑆𝑎𝑙𝑒𝑠 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟

Current Assets − Current Liabilities

Debt to Equity ratio: The debt-to-equity ratio (D/E) is a financial ratio indicating the relative proportion of

shareholders' equity and debt used to finance a company's assets.

𝐷𝑒𝑏𝑡 𝑡𝑜 𝐸𝑞𝑢𝑖𝑡𝑦 𝑟𝑎𝑡𝑖𝑜 =𝑆ℎ𝑜𝑟𝑡 𝑇𝑒𝑟𝑚 𝐷𝑒𝑏𝑡 + 𝐿𝑜𝑛𝑔 𝑇𝑒𝑟𝑚 𝐷𝑒𝑏𝑡

𝑁𝑒𝑡 𝑊𝑜𝑟𝑡ℎ

Interest Coverage ratio: The Interest coverage ratio is a debt ratio and profitability ratio used to determine how easily a

Company can pay interest on outstanding debt.

𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝐶𝑜𝑣𝑒𝑟𝑎𝑔𝑒 𝑅𝑎𝑡𝑖𝑜 =𝐸𝑎𝑟𝑛𝑖𝑛𝑔 𝐵𝑒𝑓𝑜𝑟𝑒 𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑎𝑛𝑑 𝑇𝑎𝑥

𝐹𝑖𝑛𝑎𝑛𝑐𝑒 𝐶𝑜𝑠𝑡

Market Cap/Sales ratio: Market Cap/sales ratio, Price–sales ratio, P/S ratio, or PSR, is a valuation metric for stocks. It is

calculated by dividing the company's market cap by the revenue in the most recent year; or, equivalently, divide the per-

share stock price by the per-share revenue.

𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝑆𝑎𝑙𝑒𝑠 𝑟𝑎𝑡𝑖𝑜 =𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝

𝑆𝑎𝑙𝑒𝑠 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟

Market Cap/ Net Worth ratio: It is a valuation ratio calculated by dividing Company’s market cap to net worth.

𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝑁𝑒𝑡𝑤𝑜𝑟𝑡ℎ 𝑟𝑎𝑡𝑖𝑜 =𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝

𝑁𝑒𝑡𝑤𝑜𝑟𝑡ℎ

Market Cap/ PAT ratio: It is a valuation ratio calculated by dividing Company’s market cap to net profit.

𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝑃𝐴𝑇 𝑟𝑎𝑡𝑖𝑜 =𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝

𝑛𝑒𝑡 𝑝𝑟𝑜𝑓𝑖𝑡

Market Cap/ EBITDA ratio: It is a valuation ratio calculated by dividing Company’s market cap to EBITDA.


http://www.investopedia.com/terms/i/invested-capital.asp

http://www.investopedia.com/articles/stocks/05/04405.asp

https://en.wikipedia.org/wiki/Stock

https://en.wikipedia.org/wiki/Market_cap

https://en.wikipedia.org/wiki/Stock



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𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝐸𝐵𝐼𝑇𝐷𝐴 𝑟𝑎𝑡𝑖𝑜 =𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝

𝐸𝐵𝐼𝑇𝐷𝐴

Trading Volume (shares) (avg. of 1 year): Average number of shares/day traded in 1 year

Trading volume (shares) (high in 1 year): Highest number of shares/day traded in 1 year

Trading volume (shares) (minimum in 1 year): Lowest number of shares traded on any one day in 1 year




10 |

P A G E



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