performance analysis mba project.doc

Embed Size (px)

Citation preview

  • 8/10/2019 performance analysis mba project.doc

    1/64

    A STUDY ON FINANCIAL PERFORMANCE ANALYSIS OF GEOJIT

    BNP PARIBAS FINANCIAL SERVICES LTD

    Introduction of th !tud"#

    Financial Management is that managerial activity which is concerned with the planning and

    controlling of the firms financial resources. Though it was a branch of economics till1890

    as a separate or discipline it is of recent origin. Financial Management is concerned with the

    duties of the finance manager in a business firm. e performs such varied tas!s as

    budgeting" financial forecasting" cash management" credit administration" investment

    analysis and funds procurement. The recent trend towards globali#ation of business activity

    has created new demands and opportunities in managerial finance.

    Financial statements are prepared and presented for the e$ternal users of accounting

    information. %s these statements are used by investors and financial analysts to e$amine the

    firms performance in order to ma!e investment decisions" they should be prepared very

    carefully and contain as much investment decisions& they should be prepared very carefully

    and contain as much information as possible. 'reparation of the financial statement is the

    responsibility of top management. The financial statements are generally prepared from the

    accounting records maintained by the firm.

    Financial performance is an important aspect which influences the long term

    stability" profitability and li(uidity of an organi#ation. )sually" financial ratios are said to be

    the parameters of the financial performance. The *valuation of financial performance had

    been ta!en up for the study with +,eo-it /' 'aribas Financial ervices td2 as the pro-ect.

    %nalysis of Financial statements analysis is of greater assistance in locating the wea! spots

    at ,eo-it /' 'aribas Financial ervices td2 even though the overall performance may be

    satisfactory.

    1

  • 8/10/2019 performance analysis mba project.doc

    2/64

    N d $ Sco% of th Stud"#

    Financial 'erformance analysis is the process of identifying the financial strength and

    wea!ness of the firm by properly establishing relationship between the items of the balance

    sheet and profit and loss accounts. Financial analysis can be underta!en by management of firm or by parties of outside the firm" vi# own as creditors" investors" and others. The nature

    of analysis will differ depending on the purpose of analysis.

    The study financial statements %nalysis of ,eo-it /' 'aribas Financial ervices td

    mainly focuses on profitability performance and capacity of payment of interest and

    dividends and also li(uidity and solvency position of the ,eo-it /' 'aribas Financial

    ervices td. The study is based on alance sheet and 'rofit and oss tatements and cash

    flow statement.

    O&' cti( ! of th !tud"#

    To %nalysis the financial position of the ,eo-it /' 'aribas Financial ervices td.

    To !now the li(uidity position of the ,eo-it /' 'aribas Financial ervices td

    through i(uidity ratios.

    To study the *arning capacity of the ,eo-it /' 'aribas Financial ervices tdthrough *fficiency ratios.

    To !now the profitability performance of the ,eo-it /' 'aribas Financial ervices

    td through profitability ratios.

    To !now the capability of payment of interest 3 dividends.

    2

  • 8/10/2019 performance analysis mba project.doc

    3/64

    RESEARC) MET)ODOLOGY#

    M thod of D*t* Co++ ction#

    Pri,*r" d*t*#

    'rimary data is the first hand information that is collected during the period of research.

    'rimary data has been collected through discussions held with the staffs in the accounts

    department. ome types of information were gathered through oral conversations with the

    cashier" ta$ation officer etc.

    S cond*r" d*t*#

    econdary data studies whole company records and companys balance sheet and profit and

    loss account statements in which the pro-ect wor! has been done. 4n addition" a number of

    reference boo!s" -ournals and reports were also used to formulate the theoretical model for

    the study. %nd some information was also drawn from the websites.

    Li,it*tion! of th !tud"#

    Time was an important limiting factor

    The study ta!es into consideration only past 5 years.

    Further" the study is based on secondary data.

    3

  • 8/10/2019 performance analysis mba project.doc

    4/64

    INDUSTRY PROFILE

    Introduction

    The 4ndian financial services industry has a lot of scope for further penetration" and thus has

    immense scope and potential to grow e$ponentially. The online genre" mobile e$plosion"

    emergence of social media platforms" technologies li!e cloud computing and increasing pace

    of convergence and interconnectivity of devices are intensely driving the growth of this

    industry. These are playing pivotal roles in transforming the way financial services are

    delivered to the end6consumer. Further" financial institutions are revamping their operational

    infrastructure and business delivery models.

    Financial services industry mainly comprises the F 4 industry" that is" ban!ing" financial

    services 7such as mutual funds and insurance. ey developments and performance pointers

    pertaining to each of these sub6segments are discussed in this overview.

    In!ur*nc S ctor

    There are :; life insurers in 4ndia with about

  • 8/10/2019 performance analysis mba project.doc

    5/64

    systemBs good franchise" e$tensive branch networ!s" and large" yet growing" domestic

    savings.

    %ccording to the eposits and Dredit

    of cheduled Dommercial an!sB" eptember :011" /ationalised an!s" as a group"

    accounted for 5:.: per cent of the aggregate deposits" while tate an! of 4ndia 7 4 and

    its associates accounted for :1.8 per cent. The share of /ew private sector ban!s" Eld

    private sector ban!s" Foreign ban!s and

  • 8/10/2019 performance analysis mba project.doc

    6/64

    G) = 15.:: billionH " 4D4D4 'rudential MF 7uring the reported

    fiscal" foreign fund houses in-ected

  • 8/10/2019 performance analysis mba project.doc

    7/64

    4ndia has launched the countryBs first domestic payment card networ!"

  • 8/10/2019 performance analysis mba project.doc

    8/64

    Furthermore" the < 4 has liberalised regulations pertaining to FD%s to provide operational

    fle$ibility to 4ndian entities ma!ing overseas direct investments. %fter satisfying stipulated

    re(uirements and conditions" 4ndian entities can open" hold and maintain FD%s abroad that

    would simplify the process of ma!ing overseas direct investments.

  • 8/10/2019 performance analysis mba project.doc

    9/64

    COMPANY PROFILE

    A + *din. r t*i+ fin*nci*+ ! r(ic ! %+*" r

    ,eo-it /' 'aribas today is a leading retail financial services company in 4ndia with a

    growing presence in the Middle *ast. The company rides on its rich e$perience in the capital

    mar!et to offer its clients a wide portfolio of savings and investment solutions. The gamut of

    value6added products and services offered ranges from e(uities and derivatives to Mutual

    Funds" ife 3 ,eneral 4nsurance and third party Fi$ed >eposits. The needs of over ?@@"000

    clients are met via multichannel services 6 a countrywide networ! of over 5;? offices" phone

    service" dedicated Dustomer Dare centre and the 4nternet.

    ,eo-it /' 'aribas has membership in" and is listed on" the /ational toc! *$change 7/ *

    and the ombay toc! *$change 7 * . 4n :00A" global ban!ing ma-or /' 'aribas -oined

    the companys other ma-or shareholders 6 Mr. D.J.,eorge" 4>D 7 erala tate 4ndustrial

    >evelopment Dorporation and Mr.habi"

  • 8/10/2019 performance analysis mba project.doc

    10/64

    *$panding range of online products and services

    ,eo-it /' 'aribas has proven e$pertise in providing online services. 4n the year :000" the

    company was the first stoc! bro!er in the country to offer 4nternet Trading. This was

    followed by integrating the first an! 'ayment ,ateway in the country for 4nternet Trading"

    and many other industry firsts.

  • 8/10/2019 performance analysis mba project.doc

    11/64

    'radesh" Maharashtra" /ew >elhi" Erissa" 'un-ab" evelopment Dorporation td. 7 4>D " in 1995"

    became a co6promoter of ,eo-it by ac(uiring a :; percent sta!e in the company" the only

    instance in 4ndia of a government entity participating in the e(uity of a stoc! bro!ing

    company. The year 1995 also saw ,eo-it being listed on the leading regional stoc!

    e$changes. ,eo-it listed at The toc! *$change" Mumbai 7 * in the year :000.

    Dompanys wholly owned subsidiary" ,eo-it Dommodities imited" launched Enline Futures

    Trading in agri6commodities" precious metals and energy futures on multiple commodity

    e$changes in :00@. This was also the year when the company was renamed as ,eo-it

    Financial ervices td. 7,F . The oard consists of professional directors& including a

    erala ,overnment nominee. ith effect from July :005" the company is also listed at The

    /ational toc! *$change 7/ * . Dompany is a charter member of the Financial 'lanning

    tandards oard of 4ndia and is one of the largest >epository 'articipant7>' bro!ers in the

    country.

    En @1st >ecember :00A" the company closed its commodities business and surrendered its

    membership in the various commodity e$changes held by ,eo-it Dommodities td. ,lobal

    ban!ing ma-or /' 'aribas too! a sta!e in the year :00A to become the single largest

    11

  • 8/10/2019 performance analysis mba project.doc

    12/64

    shareholder. Donse(uently" ,eo-it Financial ervices td. has been renamed as ,eo-it /'

    'aribas Financial ervices td.

    'roduct innovation bac!ed by a high level of domain specific !nowledge and state6of6the6art

    technology has helped ,eo-it /' 'aribas set many milestones including numerous industry

    firsts.

    198?

    D. J. ,eorge became member of Dochin toc! *$change

    198A

    MOs D. J. ,eorge and Do. was set up at

  • 8/10/2019 performance analysis mba project.doc

    13/64

    1st bro!ing firm in 4ndia to offer online trading facility.

    Dommences >erivative Trading with / *.

    4ntegrates the 1st an! 'ayment ,ateway in the country for 4nternet Trading.

    :001

    ecomes 4ndiaBs first >' to launch depository transactions through 4nternet.

    *stablishes Joint Kenture in the )%* to serve /erivatives

    segments.

    :00@

    ,eo-it Dommodities imited" wholly owned subsidiary" launched Enline Futures

    Trading in agri6commodities" precious metals and in energy futures on multiple

    commodity e$changes.

    /ational launch of online futures trading in

  • 8/10/2019 performance analysis mba project.doc

    14/64

    :00?

    Dharter member of the Financial 'lanning tandards oard of 4ndia.

    :00A

    /' 'aribas ta!es a sta!e in the companys e(uity" ma!ing it the single largest

    shareholder.

    *stablishes Joint Kenture in audi %rabia to serve the audi national and the /erivatives.

    Donse(uent to /' 'aribas becoming the largest sta!eholder in ,eo-it /' 'aribas"

    company is renamed as ,eo-it /' 'aribas Financial ervices td.

    :010

    aunch of F 4'7Financial 4nvestment 'latform " a new advanced online investment

    platform.

    aunch of state of the art Mobile Trading platform to empower clients to trade from

    anywhere" even while on the move through the innovative application F 4'6 M*.

    14

  • 8/10/2019 performance analysis mba project.doc

    15/64

    E/UITY

    ,eo-it /' 'aribas" a member of / * and *" has a networ! of over 500 branches in

    4ndia and abroad" rendering (uality e(uity trading services. ,eo-it /' 'aribas not only has

    a strong offline presence but also provides automated online trading services.

    ,eo-it /' 'aribas also provides a Dall 3 Trade facility to its customers wherein they can

    place and trac! their orders through our dedicated Dall Dentre >es! by dialling the toll free

    number 18006;:565501 or 916;8;6:;058:: 7 tandard

  • 8/10/2019 performance analysis mba project.doc

    16/64

    need to do is to log online into our trading site. Durrently" online investment in mutual funds

    can be done through the leading mutual fund houses.

    ,eneral 4nsurance %ny insurance other than 4F* is termed ,eneral 4nsurance. )nli!e ife

    4nsurance" ,eneral 4nsurance offers protection against contingencies and it is a practical

    option for every person who would li!e to live a ris!6free life. %lmost everything that has a

    financial value in life and has a probability of getting lost" stolen or damaged can be covered

    by a ,eneral 4nsurance policy.

    Eur partnership with a-a- %lliance ,eneral 4nsurance Dompany

    Joint Kenture between %J%J Finserv td. 4ndia 3 %llian# *" ,ermany%llian# * is largest ,eneral 4nsurance Do in the world and ran!s second amongst

    Domposite 4nsurance Dompanies

    econd largest 'rivate ,eneral 4nsurer and over all ?th among all ,eneral 4nsurance

    Dompanies in 4ndia. 4n Iear :010611" had the highest Motor 4nsurance 'remium collection

    among all 'rivate ,eneral 4nsurers and 5th highest among all general insurers.

    ighest Dlaims 'aying ability i%%% by 4D

  • 8/10/2019 performance analysis mba project.doc

    17/64

    Motor In!ur*nc

    1. :; $ A pot assistance introduced for round the cloc! accident assistance.

    :. M alerts for status of Motor claims

    @. 4n6house e$pertise in Motor claims handled by automobile engineers for cashless

    settlement

    SKehicle insurance premium has the highest share in Total 'remium collected in the countryS

    ealth and 'ersonal %ccident Dover

    a-a- %llian# as 4ts Ewn Third 'arty %dministrators for ealth 4nsurance.

    ealth 4nsurance ta!es care of rising medical costs and hospitali#ation re(uirements. a-a-%llian# has three of the best ealth insurance products in this space

    1. ealth ,uard.

    :. Family Floater ealth ,uard.

    @. *$tra DareQ % Top up policy scheme.

    ;. ilver ealth.

    hy ealth 4nsurance through a-a- %llian#o 4n house team of >octors and paramedics for health claim settlement. /o

    T'%.

    o Dashless at :100 hospitals at ;01 cities" /o medical chec!6up upto the age of

    ;5 years.

    o A;5 diagnostic centers at @18 cities.

    o ome Kisit ervices for pre6policy chec!6ups done for ilver ealth 74nitially

    in >elhi" yderabad" Mumbai 3 'une

    o Managing the ealth cheme 7,MD of 1@000 employees of >hanla$mi

    an! currently. %lso many other big accounts li!e tandard Dhartered an! etc.

    17

  • 8/10/2019 performance analysis mba project.doc

    18/64

    Travel 4nsuranceQ Travel insurance is insurance that is intended to cover medical e$penses"

    financial default of travel suppliers" and other losses incurred while traveling" either within

    oneBs own country" or internationally. 'roperty 4nsuranceQ 'roperty insurance provides

    protection against most ris!s to property" such as fire" theft and some weather damage. This

    includes speciali#ed forms of insurance such as fire insurance" flood insurance" earth(ua!e

    insurance" home insurance or boiler insurance.

    CURRENCY FUTURES

    0h" Tr*d in Curr nc" Futur !# 1

    )EDGING# edge means +to minimi#e loss or ris!2. 4t means ta!ing a position in the

    futures mar!et that is opposite to a position in the physical mar!et with a view to reduce or

    limit ris! associated with unpredictable changes in the e$change rate.

    ARBITRAGE# 4t means loc!ing in a profit by simultaneously entering into transactions in

    two or more mar!ets where there is price differential of the same underlying. 4f the relation

    between forward prices and futures price differs" it gives rise to arbitrage opportunities. 4f

    there is price differential between two e$changes" it gives rise to arbitrage opportunities.

    FINANCIAL LEVERAGE# y putting an upfront margin of 7say 5R" a client can trade in

    currency futures. Thereby" leveraging his capital.

    CAS) SETTLED# /o re(uirement of an underlying to trade in currency futures. Minimal

    cost of tradingQ Fees for corporate clients and individual clients tailored to suit their

    re(uirements L 7,ovt. O*$change ta$es" charges" levies e$tra" as applicable

    Portfo+io M*n*. , nt S r(ic

    ,eo-it /' 'aribas" a * 4 registered 'ortfolio Manager 7

  • 8/10/2019 performance analysis mba project.doc

    19/64

    The team has access to ,eo-it /' 'aribasBs strong *(uity

  • 8/10/2019 performance analysis mba project.doc

    20/64

    important part of corporate governance. This improves public understanding of the structure"

    activities and policies of the organi#ation. Donse(uently" the organi#ation is able to attract

    investors" and to enhance the trust and confidence of the sta!eholders.

    e believe that sound corporate governance is critical to enhance and retain investor trust.

    %ccordingly" we always see! to attain our performance rules with integrity. The oard

    e$tends its fiduciary responsibilities in the widest sense of the term. Eur disclosures always

    see! to attain the best practices in international corporate governance. e are also

    responsible to enhance long term shareholder value and respect minority rights in all our

    business decisions.II2 INTRODUCTION OF CODE 3Pr *,&+ 4

    This Dode of *thics for >irectors and enior *$ecutives 7the +Dode2 helps to maintain the

    standards of business conduct for ,eo-it /' 'aribas Financial ervices imited 7the

    +Dompany2 and ensures compliance with legal re(uirements particularly of Dompanies %ct"

    * 4

  • 8/10/2019 performance analysis mba project.doc

    21/64

    *thical business conduct is critical to our business. %ccordingly" Efficers are e$pected to

    read and understand this Dode" uphold these standards in day6to6day activities" and comply

    with all applicable laws" rules and regulations" the ,eo-it /' 'aribas Dode of Donduct"

    ervice rules and all applicable policies and procedures adopted by the Dompany that

    govern the conduct of its employees.

    ecause the principles described in this Dode are general in nature" Efficers should also

    review the Dompanys other applicable policies and procedures.

    Efficers should sign the ac!nowledgment form at the end of this Dode and return the form to

    the < department indicating that they have received" read and understood" and agree tocomply with the Dode. The signed ac!nowledgement form should be available with officers

    concerned. *ach year" as part of their annual review" Efficers will be as!ed to sign an

    ac!nowledgement indicating their continued understanding and adherence of the code.

    III2 )ONEST AND ET)ICAL CONDUCT

    e e$pect all Efficers to act in accordance with highest standards of personal and

    professional integrity" honesty and ethical conduct" while wor!ing on the Dompanys

    premises" at offsite locations where the Dompanys business is being conducted" at Dompany

    sponsored business and social events" or any other place where Efficers are representing the

    Dompany.

    e consider honest conduct to be conduct that is free from fraud or misrepresentation or

    deception. e consider ethical conduct to be conduct conforming to the accepted

    professional standards of conduct. *thical conduct includes ethical handling of actual or

    apparent conflicts of interest between personal and professional relationships. This is

    discussed in more detail in ection 4K below.

    21

  • 8/10/2019 performance analysis mba project.doc

    22/64

    IV2 CONFLICTS OF INTEREST

    %n Efficers duty to the Dompany demands that he or she avoids and discloses actual and

    apparent conflicts of interest. % conflict of interest e$ists where the interests or benefits of

    one person or entity conflict with the interests or benefits of the Dompany. *$amples

    includeQ

    %. *mploymentOEutside employmentQ ith regard to the employment with the

    Dompany" Efficers are e$pected to devote their full attention to the business interests of theDompany. Efficers are prohibited from engaging in any activity that interferes with their

    employment with the Dompany. Eur policies prohibit Efficers from accepting simultaneous

    employment with suppliers" customers" developers or competitors of the Dompany" or from

    ta!ing part in any activity that enhances or supports a competitors position. %dditionally"

    Efficers must disclose to the Dompanys %udit Dommittee" any interest that they have that

    may conflict with the business of the Dompany.

    . Eutside directorshipsQ 4t is a conflict of interest to serve as a director of any company

    that competes with the Dompany. Efficers must first obtain approval from the Dompanys

    audit committee before accepting a directorship.

    D. usiness 4nterestsQ 4f an Efficer is considering investing in any customer" supplier"

    developer or competitor of the Dompany" he or she must first ta!e care to ensure that these

    investments do not compromise on their responsibilities to the Dompany. Eur policy

    re(uires that Efficers first obtain approval from the Dompanys %udit Dommittee before

    ma!ing such an investment. Many factors should be considered in determining whether a

    22

  • 8/10/2019 performance analysis mba project.doc

    23/64

    conflict e$ists" including the si#e and nature of the investments" the Efficers ability to

    influence the Dompanys decisions" his or her access to confidential information of the

    Dompany or of the other company" and nature of the relationship between the Dompany and

    the other company. %t the time of application for approval" full facts of the proposed

    investment shall be placed before the Dommittee.

    >.

  • 8/10/2019 performance analysis mba project.doc

    24/64

    ,ifts given by the Dompany to suppliers or customers should be appropriate to the

    circumstances and should never be of a !ind that could create an appearance of impropriety.

    The nature and cost must always be accurately recorded in the Dompanys boo!s and

    records.

    F. Dorporate opportunitiesQ Efficers may not e$ploit for their own personal gain"

    opportunities that are discovered through the use of corporate property" information or

    position" unless the opportunity is disclosed fully in writing to the Dompanys oard of

    >irectors and the oard declines to pursue such opportunity.

    ,. 4nterested DontractsQ *$cept with the consent of the oard of >irectors of theDompany" any of the >irector or his relative or a firm in which a director or his relative is a

    partner" any other partner in such a firm" or a private company of which the director is a

    member or director shall enter into any contract with the Dompany for sale" purchase or

    supply of goods" materials or services" or for underwriting the subscription of any shares in

    or debentures of the Dompany e$cept for purchase or sale of goods for mar!et price or such

    contracts which either party regularly trades or does business. For any clarification in this

    regard" the officers are re(uested to contact to the Finance >epartment O ecretarial

    >epartment O egal >epartment.

    . histle lower 'olicyQ *mployees who came across any unethical or improper

    practice 7not necessarily a violation of law shall be free to approach the %udit Dommittee

    without necessarily informing their supervisors. %ll officers are re(uested to inform their

    subordinates about their this right through an effective manner. For any clarification in this

    regard please contact Finance >epartment O ecretarial >epartment O egal >epartment.

    24

  • 8/10/2019 performance analysis mba project.doc

    25/64

    4. Ether ituationsQ 4t would be impractical to attempt to list all possible situations. 4f a

    proposed transaction or situation raises any (uestions or doubts" please contact Finance

    >epartment.

    V2 COMPLIANCE 0IT) GOVERNMENTAL LA0S5 RULES AND REGULATIONS

    Efficers must comply with all applicable governmental laws" rules and regulations" Efficers

    must ac(uire appropriate !nowledge of the legal re(uirements relating to their duties

    sufficient to enable them to recognise potential dangers" and to !now when to see! advice

    from the Finance >epartment. Kiolations of applicable governmental laws" rules and

    regulations will lead to penal action as specified in the respective statutes. 4n any doubt

    about the compliance with laws rulesOregulations Oguidelines contact appropriate department

    of the Dompany.

    VI2 VIOLATIONS OF T)E CODE

    'art of an Efficers -ob" and of his or her ethical responsibility" is to help enforce this Dode.

    Efficers should be alert against possible violations and report this to appropriate department.

    Efficers must co6operate in any internal or e$ternal investigations of possible violations.

  • 8/10/2019 performance analysis mba project.doc

    26/64

    responsible. here laws have been violated" the Dompany will cooperate fully with the

    appropriate authorities.

    VII2 0AIVERS AND AMENDMENTS OF T)E CODE

    e are committed to continuously reviewing and updating our policies and procedures.

    Therefore" this Dode is sub-ect to modification. %ny amendment or waiver of any provision

    of this Dode must be approved in writing by the Dompanys oard of >irectors and

    promptly disclosed on the Dompanys website and in applicable regulatory filings pursuant

    to applicable laws and regulations" together with details about the nature of amendment or waiver.

    hy ,eo-it /' 'aribas

    :5 years of history in 4ndian Dapital Mar!et

    ,eo-it /' 'aribas has :5 years of in6depth bro!ing e$perience in the 4ndian Dapital

    Mar!et. More than ?;;"000 clients" a networ! of over 5;0 offices and manages assets worth

    over

  • 8/10/2019 performance analysis mba project.doc

    27/64

    ,eo-it /' 'aribas is bac!ed by strong shareholders.

    4n :00A" global ban!ing ma-or /' 'aribas -oined the companys other ma-or shareholders 6

    Mr. D.J.,eorge" 4>D 7 erala tate 4ndustrial >evelopment Dorporation and Mr.erivatives N Durrency Futures N Dustody

    %ccounts N Mutual Funds N ife 4nsurance 3 ,eneral 4nsurance N 4'Es N 'ortfolio

    Management ervices N 'roperty ervices N Margin Funding N oans against hares

    %ttractive bro!erage slabs

    e provide e$cellent value for money by offeringQ

    ow online bro!erage charges

    0.0@R for *(uity intra6day trades

    0.@0R for *(uity delivery trades

  • 8/10/2019 performance analysis mba project.doc

    28/64

    >aily mails delivered to our clients mailbo$ on mar!et conditions and

    recommendations

    Technical analysis of * :00 4nde$ scrips

    Free monthly investment maga#ine

    ervices of professionally (ualified e$ecutives at 558 offices across 4ndia.

    Eur strong research ideas have been instrumental in converting our clients into

    successful traders.

    Multichannel service6 4nternet" 'hone" ranch trading

    Trade the way that you want to by selecting from multiple channel options6 4nternet" 'hone

    or ranch.

    First mover advantage

    ,eo-it /' 'aribas through its first mover advantage in different areas has been the first to

    serve investors with its innovative offerings.

    1st to launch internet trading in the year :000. 1st to launch integrated internet trading system for cash and derivative segments in

    the year :00:.

    1st 4ndian stoc! bro!ing company to commence domestic retail bro!ing operations in

    any foreign country.

    1st in the industry to have a global player offering its name thereby creating ,eo-it

    /' 'aribas.

    1st to launch e$clusive branches for women in :005.

    Eur deep reach

    28

  • 8/10/2019 performance analysis mba project.doc

    29/64

    e have a pan64ndia networ! of over 558 offices with industry certified e$ecutives and a

    dedicated Dall Dentre to provide you (uality services.

    ide range of fund options

    ,eo-it /' 'aribas gives you the option to choose from the A00 plus Mutual Fund schemes

    offered by over @5 %sset Management companies such as 4 Mutual Fund"

  • 8/10/2019 performance analysis mba project.doc

    30/64

    CONCEPTUAL FRAME 0OR6

    Fin*nci*+ St*t , nt!

    D finition#

    Financial statements 7or financial reports are formal records of a businessB financial

    activities. These statements provide an overview of a businessB profitability and financial

    condition in both short and long term.

    There are three basic financial statementsQ

    alance sheetQ also referred to as statement of financial position" it is a statement of the boo!

    value of all of the assets and liabilities 7including e(uity of a business at a particular date. %

    balance sheet is often described as a SsnapshotS of the companyBs financial condition on a

    given date.

    4ncome statement also called a 'rofit and oss tatement 7'3 " is a financial statement thatreports a companyBs results of operations over a period of time for companies that indicates

    how revenue 7money received from the sale of products and services before e$penses are

    ta!en out is transformed into net income 7the result after all revenues and e$penses have

    been accounted for .The purpose of the income statement is to show managers and investors

    whether the company made or lost money during the period being reported.

    Dash Flow statementQ is a statement" which measures inflows and outflows of cash on

    account of any type of business activity. The cash flow statement also e$plains reasons for such inflows and outflows of cash so it is a report on a companyBs cash flow activities"

    particularly its operating" investing and financing activities.

    O&' cti( of th !t*t , nt!#

    30

  • 8/10/2019 performance analysis mba project.doc

    31/64

    The ob-ective of financial statements is to provide information about the financial strength"

    performance and changes in financial position of a company or enterprise which is so useful

    for a wide range of users in ma!ing economic decisions.

    Fin*nci*+ !t*t , nt *n*+"!i!

    Financial analysis could be processed in many different ways" depending on what we want

    to achieve. Financial analysis can be used as -ust a monitoring tool in the selection of stoc!s

    in the secondary mar!et. Er it can be used as a forecasting tool for future financial

    conditions and results. 4t may be used for evaluation and diagnosis of managerial" operating

    or other problem areas.

    Furthermore" financial analysis is a great and accurate base to rely which reduces the

    guessing and uncertainty that presents in all decision ma!ing situations. Financial analysis

    does not lesson the need for -udgment but rather establishes a sound and systematic basis for

    its rational application.

    Financial statements are used and analy#ed by a different group of parties" these groups

    consists of people both inside and outside a business. ,enerally" these users areQ

    A2 Int rn*+ U! r! Q are owners" managers" employees and other parties who are directly

    connected with a companyQ

    1. Ewners and managers re(uire financial statements to ma!e important business decisions

    that affect its continued operations. Financial analysis is then performed on these statements

    to provide management with more detailed information. These statements are also used as

    part of managementBs report to its stoc!holders" and it form part of the %nnual

  • 8/10/2019 performance analysis mba project.doc

    32/64

    B2 E7t rn*+ U! r! Q are potential investors" ban!s" government agencies and other parties

    who are outside the business but need financial information about the business for numbers

    of reasons.

    1. 'rospective investors ma!e use of financial statements to assess the viability of investingin a business. Financial analyses are often used by investors and is prepared by professionals

    7financial analysts " thus providing them with the basis in ma!ing investment decisions.

    :. Financial institutions 7ban!s and other lending companies use them to decide whether to

    give a company with fresh loans or e$tend debt securities 7such as a long term ban! loan .

    @. ,overnment entities 7ta$ authorities need financial statements to ascertain the propriety

    and accuracy of ta$es and duties paid by a company.

    ;. Media and the general public are also interested in financial statements of some

    companies for a variety of reasons.

    Fin*nci*+ R*tio *n*+"!i!

  • 8/10/2019 performance analysis mba project.doc

    33/64

    Financial ratio analysis helps us to understand how profitable a business is" if it has enough

    money to pay debts and we can even tell whether its shareholders could be happy or not.

    Fin*nci*+ r*tio! *++o8 for co,%*ri!on!#

    1. etween companies

    :. etween industries

    @. etween different time periods for one company

    ;. etween a single company and its industry average

    To evaluate the performance of one firm" its current ratios will be compared with its past

    ratios. hen financial ratios over a period of time are compared" it is called time series or

    trend analysis. 4t gives an indication of changes and reflects whether the firms financial

    performance has improved or deteriorated or remained the same over that period of time. 4t

    is not the simply changes that has to be determined" but more importantly it must be

    recogni#ed that why those ratios have changed. ecause those changes might be result of changes in the accounting polices without material change in the firms performances.

    %nother method is to compare ratios of one firm with another firm in the same industry at

    the same point in time. This comparison is !nown as the cross sectional analysis. 4t might be

    more useful to select some competitors which have similar operations and compare their

    ratios with the firms. This comparison shows the relative financial position and

    performance of the firm. ince it is so easy to find the financial statements of similar firms

    through publications or Medias this type of analysis can be performed so easily.

    To determine the financial condition and performance of a firm" its ratios may be compared

    with average ratios of the industry to which the firm belongs. This method is !nown as the

    industry analysis that helps to ascertain the financial standing and capability of the firm in

    the industry to which it belongs.

    33

  • 8/10/2019 performance analysis mba project.doc

    34/64

    4ndustry ratios are important standards in view of the fact that each industry has its own

    characteristics" which influence the financial and operating relationships. ut there are

    certain practical difficulties for this method. First finding average ratios for the industries is

    such a headache and difficult. econd" industries include companies of wea! and strong so

    the averages include them also. ometimes spread may be so wide that the average may be

    little utility. Third" the average may be meaningless and the comparison not possible if the

    firms with in the same industry widely differ in their accounting policies and practices.

    owever if it can be standardi#ed and e$tremely strong and e$tremely wea! firms be

    eliminated then the industry ratios will be very useful.

    %fter such a discussion and mentioning that these ratios are one of the most important tools

    that is used in finance and that almost every business does and calculate these ratios" it is

    logical to e$press that how come these calculations are of no importance. hat are the

    points that those ratios put light on them %nd how can these numbers help us in performing

    the tas! of management The answer to these (uestions isQ e can use ratio analysis to tell

    us whether the business

    1. 4s profitable

    :. as enough money to pay its bills and debts

    @. Dould be paying its employees higher wages" remuneration or so on

    ;. 4s able to pay its ta$es

    5. 4s using its assets efficiently or not

    ?. has a gearing problem or everything is fine

    A. 4s a candidate for being bought by another company or investor and more.

    ut as it is obvious there are many different aspects that these ratios can demonstrate. o for

    using them first we have to decide what we want to !now" then we can decide which ratios

    we need and then we must begin to calculate them.

    34

  • 8/10/2019 performance analysis mba project.doc

    35/64

    %s before mentioned there are varieties of people interested to !now and read these

    information and analyses" however different people for different needs. %nd it is because

    each of these groups has different type of (uestions that could be answered by a specific

    number and ratio. Therefore we can say there are different ratios for different groups" these

    groups with the ratio that suits them is listed belowQ

    92 In( !tor!# these are people who already have shares in the business or they are

    illing to be part of it. o they need to determine whether they should buy shares in

    The business" hold on to the shares they already have or sell the shares they already

    Ewn. They also want to assess the ability of the business to pay dividends. %s a result

    The

  • 8/10/2019 performance analysis mba project.doc

    36/64

    >2 Cu!to, r!# are interested to !now the 'rofitability

  • 8/10/2019 performance analysis mba project.doc

    37/64

    measures the ability of a firm to meet its short6term obligations and reflect the short6term

    financial solvency of a firm.

    1. Durrent

  • 8/10/2019 performance analysis mba project.doc

    38/64

    /uic- R*tio /uic- A!! t! /uic- +i*&i+it"

    B4 Lon. t r, So+( nc" R*tio or L ( r*. R*tio#1

    olvency ratio are those ratio calculated to determine the firms ability to meet its long term

    obligations. The long term obligations include the claims of debentures holders and other

    financial institutions which have offered long L term and medium L term loans to the firm.

    The solvency position of a firm can be determined with the help of following ratioQ

    1. >ebt *(uity ebt or outsider fund Q %n outsider fund refers to long term liabilities. ome writer are of the

    opinion that preference share should be considered as outsiders funds for the reason that

    dividend payable on these shares is fi$ed and the amount of these shares may be redeemed

    after e$piry a stipulated period. imilarly" there is a controversy regarding current liabilities

    also. ome writers are of the opinion that current liabilities should be considered as outsiders

    funds for the reason that they represent the firm obligations to outsiders. owever we are of

    38

  • 8/10/2019 performance analysis mba project.doc

    39/64

    the opinion that debt e(uity ratio may be calculated e$cluding current liabilities because they

    are repayable with in a very short period and these liabilities widely fluctuate during a year.

    hareholder fundsQ *(uity share capital V preference share capital V all accumulated profits

    7i.e. both revenue and capital reserves less accumulated losses.

    % low debt e(uity ratio indicates that the interests of outsiders are safe and guarded and a

    firm need not worry about their payment. En the other hand" a high debt e(uity ratio

    indicates that the claims of outsiders are more than the shareholders" their interests are not

    safe and they 7outsider have to bear the probable future losses.

    D &t E uit" R*tio Lon. T r, E uit" C*%it*+ .

    :4 Sh*r ho+d r E uit" R*tio#1

    The hareholders *(uity

  • 8/10/2019 performance analysis mba project.doc

    40/64

    4t should be noted that this ratio uses the concept of net profits before ta$ed because interest

    is ta$6deductible so that ta$ is calculated after paying interest on long Lterm loan. This ratio"

    as the name suggests" indicates the e$tent to which a fall in * 4T is tolerable in that the

    ability of the firm to service its interest payments would not be adversely affected. For

    instance" an interest coverage of 10 times would imply that even if the firms * 4T were to

    decline to one6tenth of the present level" the operating profits available for servicing the

    interest on loan would still be e(uivalent to the claims of the lenders. En the other hand"

    coverage of five times would indicate that a fall in operating earnings only to up to one6fifth

    level can be tolerated. From the point of view of the lenders" the larger the coverage" the

    greater is the ability of the firm to handle fi$ed6charges liabilities and the more assured is the

    payment of interest to them. owever" too high a ratio may imply unused debt capacity. 4n

    contrast" a low ratio is a danger signal that the firm is using e$cessive debt and does not havethe ability to offer assured payment of interest to the lenders.

  • 8/10/2019 performance analysis mba project.doc

    41/64

    The purpose of study and analysis of profitability ratio to help assessing the ade(uacy of

    profits earned by the company and also to discover whether profitability is increasing of

    declining. The profitability of the firm is the net result of a large number of policies and

    decisions. The profitability ratios show the combined effects of li(uidity" asset management

    and debt management on operating results. 'rofitability ratios are measured with reference

    to sales" capital employed" total assets employed" shareholders funds etc.

    1.

  • 8/10/2019 performance analysis mba project.doc

    42/64

    ;2 R turn on Sh*r ho+d r! Fund R*tio#1

    %ccording to this ratio" profitability is measured by dividing the net profits after ta$es 7but

    before preference dividend by the average total shareholders e(uity. The term

    shareholders e(uity includes 7i preference share capital& 7ii ordinary shareholders e(uityconsisting of 7a e(uity share capital" 7b share premium" and 7c reserves and surplus less

    accumulated losses. The ordinary shareholders e(uity is also referred to as net worth. Thus"

    R turn on tot*+ !h*r ho+d r ! uit" N t %rofit !h*r ho+d r! uit"H9

    The ratio reveals how profitably the owners funds have been utili#ed by the firm. %

    comparison of this ratio with that of similar firms as also with the industry average will

    throw light on the relative performance and strength of the firm.

  • 8/10/2019 performance analysis mba project.doc

    43/64

    D4 Turno( r R*tio#1

    The efficiency or activity ratio are those ratio calculated to measure the operational

    efficiency of a business concern. The operational efficiency a firm is -udged based on its

    profits earning capacity and the optimum utili#ation of its available resources in accordancewith financial policies related to its operation.

    These ratios are also called as +Turnover

  • 8/10/2019 performance analysis mba project.doc

    44/64

  • 8/10/2019 performance analysis mba project.doc

    45/64

    %nother profitability ratio related to sales is the *$penses

  • 8/10/2019 performance analysis mba project.doc

    46/64

    DATA ANALYSIS AND INTERPRETATION#

    Curr nt r*tio

    Durrent ratio may be defined as the relationship between current assets and current

    liabilities. This ratio also !nown as or!ing capital ratio is a measure of general li(uidity

    and is most widely used to ma!e the analysis of a short6term financial position 7or li(uidity

    of a firm.

    Curr nt r*tio

    Iear :010 :011 :01: :01@ :01;Durrent ratio 0.80 0.A0 0.89 1.0; 1.0A

    INTERPRETATION# The ideal current ratio for any firm is :Q1. From the graph" it is clear

    that the current ratio of the firm decreased in :011. owever" it increased to 0.89 in :01:

    and finally increased to 1.0A in :01;.it indicates that current ratio of the company is less

    than the ideal ratio. 4t represents that the firm is not good at wor!ing capital ratio in the

    present year.

    46

  • 8/10/2019 performance analysis mba project.doc

    47/64

    Fi7 d *!! t! turno( r r*tio

    Fi$ed assets turnover ratio is also !nown as sales to fi$ed assets ratio. This ratio measures

    the efficiency and profit earning capacity of the concern.

    igher the ratio" greater is the intensive utili#ation of fi$ed assets. ower ratio means under6

    utili#ation of fi$ed assets. The ratio is calculated by using following formulaQ

    Fi$ed %ssets Turnover

  • 8/10/2019 performance analysis mba project.doc

    48/64

    Curr nt *!! t! turno( r r*tio

    Durrent %ssets Turnover

  • 8/10/2019 performance analysis mba project.doc

    49/64

    The working capital turnover ratio measures how well a company is utili#ing its wor!ing

    capital to support a given level of sales. % high turnover ratio indicates that management is

    being e$tremely efficient in using a firmBs short6term assets and liabilities to support sales.

    FormulaQ >ivide net sales by wor!ing capital 7which is current assets minus currentliabilities . The calculation is usually made on an annual basis" and uses the average wor!ing

    capital during that period.

    Iear :010 :011 :01: :01@ :01;

    or!ing capital turnover ratio 65.11 6:.;5 69.A1 @0.51 :1.?:

    INTERPRETATION# This ratio indicates whether wor!ing capital has been effectively

    utili#ed in ma!ing sales or not. From the above graph it is noted that wor!ing capital had

    some fluctuation in the middle of the study period" yet the company was able to increase it

    in the later years. ence the turnover indicates that company has utili#ed its wor!ing capital

    efficiently and the company can also try to wor! on this to get more effective values.

    Gro!! %rofit r*tio

    The gross profit margin is a measurement of a companyBs manufacturing and distribution

    efficiency during the production process. The gross profit tells an investor the percentage of

    49

    http://www.accountingtools.com/dictionary-working-capitalhttp://www.accountingtools.com/dictionary-working-capitalhttp://www.accountingtools.com/definition-assethttp://www.accountingtools.com/definition-liabilityhttp://www.accountingtools.com/dictionary-working-capitalhttp://www.accountingtools.com/dictionary-working-capitalhttp://www.accountingtools.com/definition-assethttp://www.accountingtools.com/definition-liability
  • 8/10/2019 performance analysis mba project.doc

    50/64

  • 8/10/2019 performance analysis mba project.doc

    51/64

    profits after ta$es to the net sales of a firm. %ll the efforts and decision ma!ing in the

    business is to achieve a higher net profit margin with increase in net profits.

    /et profit margin shows the margin left for the e(uity and preference shareholders i.e. the

    owners. )nli!e the gross profit which measures the operating efficiency of the business" net profit margin measures the overall efficiency of the business. %n ade(uate margin of net

    profits will be generated only when most of all the activities are being done efficiently. The

    activities may be production" administration" selling" financing" pricing or ta$ management.

    /et 'rofit Margin or

  • 8/10/2019 performance analysis mba project.doc

    52/64

  • 8/10/2019 performance analysis mba project.doc

    53/64

    The amount of net income returned as a percentage of shareholders e(uity.

  • 8/10/2019 performance analysis mba project.doc

    54/64

  • 8/10/2019 performance analysis mba project.doc

    55/64

    >ividend 'er hare 7>' ratio relates the dividends announced for the year to the number

    of shares issued for that year. 4t is an indication of the cash return that shareholders receive

    from holding shares in the listed company.

    100

    Iear :010 :011 :01: :01@ :01;

    >ividend per share 0.A 0.5 0.A5 0.A5 0.A5

    INTERPRETATION#

    From the above graph it is understood that dividend per share ratio was increased from

    :010 to :01:. This indicates that the amount of declared dividends per each share of stoc! is

    increased

    55

  • 8/10/2019 performance analysis mba project.doc

    56/64

    E*rnin.! % r !h*r

    *arnings per share ratio 7*'

  • 8/10/2019 performance analysis mba project.doc

    57/64

    >ividend payout ratio is calculated to find the e$tent to which earnings per share have been

    used for paying dividend and to !now what portion of earnings has been retained in the

    business. 4t is an important ratio because ploughing bac! of profits enables a company to

    grow and pay more dividends in future.

    Following formula is used for the calculation of dividend payout ratio

    >ividend 'ayout ividend per *(uity hare O *arnings per hare

    Iear :010 :011 :01: :01@ :01;

    >ividend payout ratio @0.@@ AA.: :9.?: @5.19 ;@.1:

    INTERPRETATION# From the above graph it could be understood that the dividend

    payout ratio was increasing from the year :010 to :011 and it was decreased in the year

    :01:.finally it was increased in :01; which indicates that the payment of dividends are less

    than the earnings per each share of stoc!.

    Findin.!#

    Durrent ratio of the company is less than the ideal ratio. 4t represents that the firm is

    not good at wor!ing capital ratio in the present year.

    57

  • 8/10/2019 performance analysis mba project.doc

    58/64

    Fi$ed assets turnover ratio was increasing and decreasing trend from :010 to :01:

    and it was slightly decreased in :01@ and finally decreased in :01;.

    Durrent assets turnover ratio was increased 1.@5 in :01@ finally it was increased to

    1.51 in :01: which represents that company has ma$imum sales with the minimum

    investment in current assets.

    or!ing capital had some fluctuation in the middle of the study period" yet the

    company was able to increase it in the later years.

    The ,ross 'rofit Margin of the company decreased compared to the previous years.

    4t was good in :010 and stood at @1.08 R. owever" it decreased to :;.A9 R in :01:.

    The net profit ratio was very low in the year :009 and it is also proved that the

    efficiency of the company is increasing and decreasing from :008 to :01:.

    ividend payout ratio was increasing from the year :008 to :009 and it was

    decreased in the year :010 and it was decreased in the year :011.finally it was

    increased in :01:

    Su.. !tion!#

    4t is suggested to the company to increase its li(uidity since its more than the ideal

    ratio for the past five years and is able to meet the short term obligations.

    58

  • 8/10/2019 performance analysis mba project.doc

    59/64

    4t should also see that it will be able to meet the wor!ing capital re(uirements

    properly. 4f not" this may become a hurdle to the production process.

    The firm should reframe its capital structure and pay off the debts to some e$tent. 4t

    should increase the e(uity share capital instead of the debt so that there is a reduction

    in the ris!. %nd also" the firm should ta!e immediate measures for profitably utili#ing

    the investments of the shareholders.

    There is increasing trend in the gross profit margin and the net profit margin of the

    company which means that the production and sales are favourable to the company.

    Maintain the same aggressive mar!eting should be ta!en to stabili#e the production.

    *arnings per share ratio is decreasing year by year it is not favourable to the

    company. o try to increase the earning capacity on dividends.

    The company should be ta!en efforts to increase the overall efficiency in returns out

    of capital employed by ma!ing used of the available resources effectively.

    Conc+u!ion#

    59

  • 8/10/2019 performance analysis mba project.doc

    60/64

    The study Financial 'erformance %nalysis in +,eo-it /' 'aribas Financial ervices td2

    was underta!en with an ob-ective of getting an insight into the analysis of financial

    performance of +,eo-it /' 'aribas Financial ervices td2. The study attempts to

    determine the profitability performance of company. Further" the study aims to determine the

    Financial 'erformance" olvency position and capacity of payment of interest and dividends

    and lending capacity of +,eo-it /' 'aribas Financial ervices td2.

    The study is done using the alance sheet" 'rofit and oss account and other financial

    information of +,eo-it /' 'aribas Financial ervices td2. The entire study is based on the

    secondary data only. The analytical tools used for the study are ratio analysis. The study is

    done at yderabad for a period of ?0days. The study had few limitations which were ta!en

    care of.

    The financial information obtained was analy#ed using the appropriate techni(ues and it was

    found that the current ratio of the company is less than the ideal ratio. 4t represents the

    company is not able to meet short term obligations and it has li(uidity problem. The ,ross

    'rofit Margin of the company decreased compared to the previous years. 4t was good in

    :010 and also find *arnings per share was highest in the year :010 is :.5@ which shows that

    earning from the shareholders funds is increased.

    4t is suggested to the company the wor!ing capital re(uirements properly. 4f not" this may

    become a hurdle to the production process. %nd the Dompany should be ta!en efforts to

    increase the overall efficiency in returns out of capital employed by ma!ing used of the

    available resources effectively.

    60

  • 8/10/2019 performance analysis mba project.doc

    61/64

    BIBLIOGRAP)Y#

    1. 4.M. 'andey " Financial Management /inth *dition" Ki!as 'ublishing ouse 'vt td"

    10 th edition" :009:. 'rasanna chandhra" Financial Management" Tata Mc,raw6 ill *ducation" A th edition"

    :008.@. >r.

  • 8/10/2019 performance analysis mba project.doc

    62/64

    B*+*nc Sh t of G o'it BNP P*ri&*! Fin*nci*+ S r(ic !

    alance heet of ,eo-it /' 'aribasFinancial ervices

    6666666666666666666 in ebtors A:.85 105.@? 109.1; ;1.@A ?;.A; @1.59

    Dash and an! alance ?0.5; ?9 1:A.A: 9:.A: 88.5@ ;;.5Total Durrent %ssets 1@@.@9 1A;.@? :@?.8? 1@;.09 15@.:A A?.09

    oans and %dvances 1;A.0A 8A.@ 1:5.:@ 1;1.59 1:A.A; A9.15Fi$ed >eposits 8A.09 118.88 A5.11 51.@9 @A.;9 1:@.;@

    Total D%" oans 3 %dvances @?A.55 @80.5; ;@A.: @:A.0A @18.5 :A8.?A

    Durrent iabilities 1:;.0: 1??.?@ :[email protected]: 191.5; 190.A 108.A'rovisions :0.@A ::.@: ::.;5 55.5: ?A.:8 :;.@5

    Total D 3 'rovisions 1;;.@9 188.95 :8?.@A :;A.0? :5A.98 1@@.05 /et Durrent %ssets ::@.1? 191.59 150.8@ 80.01 ?0.5: 1;5.?:

    Miscellaneous *$penses 0 0 0 0 0 0

    Total %ssets @A8.@8 @5?.5 @19.05 :A?.0? :;:.5@ :10.A1

    Dontingent iabilities ;@.:; @;.1A @0.8 ;.:: ;.19 :.8A

    oo! Kalue 7

  • 8/10/2019 performance analysis mba project.doc

    63/64

    Profit $ Lo!! *ccount of G o'it BNP P*ri&*! Fin*nci*+ S r(ic !

    'rofit 3 oss account of ,eo-it /''aribas Financial ervices

    6666666666666666666 in uty 0 0 0 0 0 0 /et ales :0:.?A :@5.9 :?:.91 1;0.95 191.59 10;.A8

    Ether 4ncome @:.A: @5.:? :;.:? 1A.9: 1;.58 ;.95toc! %d-ustments 0 0 0 0 0 0

    Total 4ncome :@5.@9 :A1.1? :8A.1A 158.8A :0?.1A 109.A@*$penditure

    4T ?:.81 A?.AA [email protected] @1.@9 A8.;1 @?.?1

    4nterest 1.0@ 0.18 0.5; 1 0.;? 0.@A' >T ?1.A8 A?.59 9@.:; @0.@9 AA.95 @?.:;

    >epreciation 11.5: 1:.A9 11.5: 10.1@ ?.:1 ;.5AEther ritten Eff 0 0 0 0 0 0

    'rofit efore Ta$ 50.:? [email protected] 81.A: :0.:? A1.A; @1.?A*$tra6ordinary items :.;A :.A? 1.09 0 0 60.::

    ' T 7'ost *$tra6ord 4tems 5:.A@ ??.5? 8:.81 :0.:? A1.A; @1.;5

    Ta$ 10.9@ 15.0@ :@.8; 5.A; :@.51 10.;ividend 0 0 0 0 0 0

    *(uity >ividend 1A.1@ 1A.15 1?.9@ 11.:1 1;.?@ ?.09

    Dorporate >ividend Ta$ :.A8 :.A8 :.81 1.8: :.;9 0.85'er share data 7annualised

    hares in issue 7la!hs :":8@.?0 :":8@.?0 :":5:.5; :":@;.1: :"089.91 :"089.91

    *arning 'er hare 7ividend 7R A5 A5 A5 50 A0 ;0

    oo! Kalue 7

  • 8/10/2019 performance analysis mba project.doc

    64/64

    C*!h F+o8 of G o'it BNP P*ri&*! Fin*nci*+ S r(ic !

    Dash Flow of ,eo-it /' 'aribas Financial

    ervices

    6666666666666666666 in