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ADANI POWER LTD Final Data Sheet

Narration Mar-12 Mar-13 Mar-14 Mar-15

Equity Share Capital 2,180.04 2,393.27 2,871.92 2,871.92
Reserves 3,861.27 1,900.14 3,671.47 2,852.70
Borrowings 38,600.34 41,795.44 44,150.23 44,741.97
Other Liabilities 6,742.09 8,599.01 8,045.32 8,007.63
Total 51,383.74 54,687.86 58,738.94 58,474.22

Net Block 15,804.20 29,088.60 46,364.53 45,079.68

Capital Work in Progress 26,721.48 18,976.50 3,659.83 191.34
Investments 19.01 22.37 115.32 357.30
Other Assets 8,839.05 6,600.39 8,599.26 12,845.90
Total 51,383.74 54,687.86 58,738.94 58,474.22

Working Capital 2,096.96 -1,998.62 553.94 4,838.27

Debtors 449.20 758.48 1,543.27 3,489.54
Inventory 826.75 1,555.67 1,280.96 1,629.05

Debtor Days 40.64 41.37 36.75 68.17

Inventory Turnover 4.88 4.30 11.97 11.47

Return on Equity -5% -53% -4% -14%

Return on Capital Emp 0% 6% 8%
 SCREENER.IN

Mar-16 Mar-17 Mar-18 Mar-19 Mar-20

3,333.94 3,856.94 3,856.94 3,856.94 3,856.94
4,133.92 -857.38 -2,967.61 -4,144.65 -5,991.50
52,729.32 52,484.37 52,834.81 46,979.70 55,122.55
15,597.03 16,027.12 15,803.93 21,292.61 22,037.01
75,794.21 71,511.05 69,528.07 67,984.60 75,025.00

56,941.22 54,390.93 52,137.14 50,418.76 55,845.81

87.92 124.61 119.86 350.08 2,346.77
0.06 164.33 0.01 2.72 2.80
18,765.01 16,831.18 17,271.06 17,213.04 16,829.62
75,794.21 71,511.05 69,528.07 67,984.60 75,025.00

3,167.98 804.06 1,467.13 -4,079.57 -5,207.39

12,476.60 7,704.34 6,069.81 8,550.99 8,366.47
1,619.20 1,760.41 873.98 1,224.08 2,522.77

179.45 124.34 109.11 130.68 115.38

15.67 12.85 23.23 19.51 10.49

7% -206% -236%
11% -1% 6% 9% 6%
Mar-21
3,856.94
-5,132.28
52,322.93
27,487.88
78,535.47

52,851.30
6,439.42
20.10
19,224.65
78,535.47

-8,263.23
11,437.92
2,025.11

159.21
12.95

14%
ADANI POWER LTD

Narration Sep-19 Dec-19 Mar-20 Jun-20 Sep-20

Sales 5,915.69 6,574.82 6,172.43 5,203.83 7,749.21
Expenses 4,566.85 5,127.12 5,967.87 3,815.33 3,706.47
Operating Profit 1,348.84 1,447.70 204.56 1,388.50 4,042.74
Other Income 900.73 109.70 155.14 152.36 1,043.07
Depreciation 765.26 783.18 768.41 782.61 827.84
Interest 1,326.33 1,422.77 1,243.89 1,391.87 1,364.04
Profit before tax 157.98 -648.55 -1,652.60 -633.62 2,893.93
Tax 154.10 53.85 -339.74 48.84 665.88
Net profit 3.88 -702.36 -1,312.90 -682.46 2,228.05

OPM 23% 22% 3% 27% 52%

 SCREENER.IN

Dec-20 Mar-21 Jun-21 Sep-21 Dec-21

6,894.84 6,373.60 6,568.86 5,183.66 5,360.88
5,271.90 4,759.26 4,920.85 4,020.35 3,590.11
1,622.94 1,614.34 1,648.01 1,163.31 1,770.77
204.36 528.41 644.35 388.10 232.70
809.65 781.55 774.34 784.96 784.36
1,223.40 1,127.02 1,068.31 976.36 1,014.77
-205.75 234.18 449.71 -209.91 204.34
82.99 221.05 171.49 20.69 -14.15
-288.74 13.13 278.22 -230.60 218.49

24% 25% 25% 22% 33%

ADANI POWER LTD

Narration Mar-12 Mar-13 Mar-14 Mar-15 Mar-16

Sales 4,034.51 6,692.04 15,328.08 18,683.21 25,377.33
Expenses 2,661.40 5,732.43 10,734.80 14,005.46 16,575.20
Operating Profit 1,373.11 959.61 4,593.28 4,677.75 8,802.13
Other Income -44.80 214.71 136.81 1,188.34 -201.37
Depreciation 590.44 1,289.68 1,937.47 1,818.19 2,665.82
Interest 737.53 1,702.86 4,162.16 4,863.53 5,560.22
Profit before tax 0.34 -1,818.22 -1,369.54 -815.63 374.72
Tax 294.84 476.79 -1,078.99 - -176.08
Net profit -287.27 -2,295.01 -290.55 -815.63 550.80
EPS -1.32 -9.59 -1.01 -2.84 1.65
Price to earning -51.98 -4.24 -48.04 -16.65 20.85
Price 68.50 40.65 48.60 47.30 34.45

RATIOS:
Dividend Payout 0.00% 0.00% 0.00% 0.00% 0.00%
OPM 34.03% 14.34% 29.97% 25.04% 34.69%
 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Trailing
22,615.51 20,304.28 23,884.18 26,467.72 26,221.48 23,487.00
16,635.47 14,868.35 18,900.77 20,734.08 17,533.32 17,290.57
5,980.04 5,435.93 4,983.41 5,733.64 8,688.16 6,196.43
-3,666.12 754.10 2,447.87 322.76 1,908.56 1,793.56
2,672.36 2,698.72 2,750.62 3,006.50 3,201.65 3,125.21
5,901.73 5,570.23 5,656.52 5,314.82 5,106.33 4,186.46
-6,260.17 -2,078.92 -975.86 -2,264.92 2,288.74 678.32
-86.07 -5.15 8.54 9.85 1,018.76 399.08
-6,174.10 -2,102.95 -984.40 -2,274.77 1,269.98 279.24
-16.01 -5.45 -2.55 -5.90 3.29 0.72
-2.49 -4.35 -18.88 -4.71 25.83 305.18
39.90 23.70 48.20 27.75 85.05 220.95

0.00% 0.00% 0.00% 0.00% 0.00%

26.44% 26.77% 20.86% 21.66% 33.13% 26.38%

TRENDS: 10 YEARS 7 YEARS 5 YEARS 3 YEARS RECENT

Sales Growth 23.12% 7.97% 0.66% 8.90% -0.93%
OPM 27.02% 27.09% 25.79% 25.34% 26.38%
Price to Earning 117.29 117.29 165.51 165.51 305.18
SCREENER.IN

Best Case Worst Case

28,554.88 26,002.97
21,021.43 19,413.30
7,533.46 6,589.67
- -
3,125.21 3,125.21
4,186.46 4,186.46
221.79 -722.00
59% 59%
91.30 -297.22
0.24 -0.77
305.18 117.29
72.24 -90.38

BEST WORST
8.90% -0.93%
26.38% 25.34%
305.18 117.29
 NAVIGATION MENU

GO TO INSTRUCTIONS TAB RAT

INCOME STATEMENT DUPO

BALANCE SHEET INVEST

CASH FLOW STATEMENT

ON MENU

RATIO ANALYSIS

DUPONT ANALYSIS

INVESTING RESOURCES
Key Items Details
Company Name ADANI POWER LTD
Current Price (INR) 221
No. of Shares (crores) 385.7
Market Cap (crores) 85,219
TTM Net Profit (crores) 279
TTM P/E ratio 305.2x
TTM Operating Profit Margin 26.4%
Latest FY ROAE -74.5%
Latest FY ROACE 14.2%
 Inco
COMPANY NAME >>
INR (in crores) Mar-12 Mar-13 Mar-14 Mar-15
Sales 4,035 6,692 15,328 18,683
Operating Profit 1,373 960 4,593 4,678
Other Income (45) 215 137 1,188
EBITDA 1,328 1,174 4,730 5,866
Interest (738) (1,703) (4,162) (4,864)
Depreciation (590) (1,290) (1,937) (1,818)
Profit before tax (PBT) 0 (1,818) (1,370) (816)
Tax (295) (477) 1,079 0
Profit after tax (PAT) / Net Profit (295) (2,295) (291) (816)

Adjusted Equity Shares (in crores) 218.0 239.3 287.2 287.2

Price 69 41 49 47

Operating Profit Margin (OPM) % 34.0% 14.3% 30.0% 25.0%

Net Profit Margin (NPM) % n/m n/m n/m n/m
Tax Payout % 86717.6% (26.2%) n/m n/m
Interest Coverage Ratio (x) 1.0x (0.1x) 0.7x 0.8x
Earnings Per Share (EPS) (1.4) (9.6) (1.0) (2.8)
PE Ratio (x) (50.7x) (4.2x) (48.0x) (16.7x)

NAVIGATION MENU
Income Statement Analysis
ADANI POWER LTD
Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21
25,377 22,616 20,304 23,884 26,468 26,221
8,802 5,980 5,436 4,983 5,734 8,688
(201) (3,666) 754 2,448 323 1,909
8,601 2,314 6,190 7,431 6,056 10,597
(5,560) (5,902) (5,570) (5,657) (5,315) (5,106)
(2,666) (2,672) (2,699) (2,751) (3,007) (3,202)
375 (6,260) (2,079) (976) (2,265) 2,289
176 86 5 (9) (10) (1,019)
551 (6,174) (2,074) (984) (2,275) 1,270

333.4 385.7 385.7 385.7 385.7 385.7

34 40 24 48 28 85

34.7% 26.4% 26.8% 20.9% 21.7% 33.1%

2.2% n/m n/m n/m n/m 4.8%
n/m n/m n/m (0.9%) (0.4%) 44.5%
1.1x (0.1x) 0.6x 0.8x 0.6x 1.4x
1.7 (16.0) (5.4) (2.6) (5.9) 3.3
20.9x (2.5x) (4.4x) (18.9x) (4.7x) 25.8x
 GROWTH TREND ANALYSIS
TTM 9 YEARS 5 YEARS 3 YEARS
23,487 23% 1% 9%
6,196 23% (0%) 17%
(252%) (257%) 36%
26% 4% 20%

678 166% 44% (203%)

279 (218%) 18% (185%)

2% 20% 53%

26.4%
1.2%

(210%) 15% (185%)

 Ba
COMPANY NAME >>
INR (in crores) Mar-12 Mar-13 Mar-14 Mar-15
Equity Share Capital 2,180 2,393 2,872 2,872
Reserves 3,861 1,900 3,671 2,853
Borrowings 38,600 41,795 44,150 44,742
Other Liabilities 6,742 8,599 8,045 8,008
Total Liabilities 51,384 54,688 58,739 58,474

Fixed Assets (Net Block) 15,804 29,089 46,365 45,080

Capital Work in Progress (CWIP) 26,721 18,977 3,660 191
Investments 19 22 115 357
Other Assets 8,839 6,600 8,599 12,846
Total Assets 51,384 54,688 58,739 58,474

Receivables 449 758 1,543 3,490

Inventory 827 1,556 1,281 1,629
Cash & Bank 3,241 1,718 831 856
Working Capital 2,097 (1,999) 554 4,838
Capital Employed 44,642 46,089 50,694 50,467
Total Equity 6,041 4,293 6,543 5,725

Net Fixed Asset Turnover 0.3x 0.4x 0.4x

Receivables Days 33 27 49
Inventory Turnover 5.6x 10.8x 12.8x
Debt To Equity 6.4x 9.7x 6.7x 7.8x
Return on average Equity (RoAE) (44.4%) (5.4%) (13.3%)
Return on average Capital Employed (0.3%) 5.8% 8.0%

NAVIGATION MENU
 Balance Sheet Analysis
ADANI POWER LTD
Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21
3,334 3,857 3,857 3,857 3,857 3,857
4,134 (857) (2,968) (4,145) (5,992) (5,132)
52,729 52,484 52,835 46,980 55,123 52,323
15,597 16,027 15,804 21,293 22,037 27,488
75,794 71,511 69,528 67,985 75,025 78,535

56,941 54,391 52,137 50,419 55,846 52,851

88 125 120 350 2,347 6,439
0 164 0 3 3 20
18,765 16,831 17,271 17,213 16,830 19,225
75,794 71,511 69,528 67,985 75,025 78,535

12,477 7,704 6,070 8,551 8,366 11,438

1,619 1,760 874 1,224 2,523 2,025
869 604 857 916 1,979 1,607
3,168 804 1,467 (4,080) (5,207) (8,263)
60,197 55,484 53,724 46,692 52,988 51,048
7,468 3,000 889 (288) (2,135) (1,275)

0.5x 0.4x 0.4x 0.5x 0.5x 0.5x

115 163 124 112 117 138
15.6x 13.4x 15.4x 22.8x 14.1x 11.5x
7.1x 17.5x 59.4x (163.3x) (25.8x) (41.0x)
8.4% (118.0%) (106.7%) (327.2%) 187.8% (74.5%)
10.7% (0.6%) 6.4% 9.3% 6.1% 14.2%
 AVERAGE TREND
9 YEARS 5 YEARS 3 YEARS

0.4x 0.4x 0.5x

97 131 122
13.6x 15.4x 16.1x
(13.5x) (30.6x) (76.7x)
### ### ###
6.6% 7.1% 9.9%
 C
COMPANY NAME >> A
INR (in crores) Mar-12 Mar-13 Mar-14 Mar-15
Cash from Operating Activity (CFO) 964 3,001 3,238 5,824
Cash from Investing Activity (CFI) (13,474) (4,065) (4,700) (4,737)
Cash from Financing Activity (CFF) 12,356 861 1,631 (1,144)
Net Cash Flow (CFO + CFI + CFF) (154) (203) 169 (58)

Cash & Equivalent at the end of year 3,241 1,718 831 856

Profit After Tax (PAT) (295) (2,295) (291) (816)

Cash from Operating Activity (CFO) 964 3,001 3,238 5,824

CFO/PAT (atleast 80%) ### ### ### ###

CAPEX 6,829 3,897 (2,935)

Free Cash Flows (FCF) (3,829) (659) 8,759

Re-investment (Capex/CFO) 228% 120% (50%)

FCF/CFO

NAVIGATION MENU
 Cashflow Analysis
ADANI POWER LTD
Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21
5,257 4,725 5,101 5,610 5,598 7,014
(2,692) (1,212) (520) (984) (2,304) (2,188)
(2,713) (3,539) (4,600) (4,663) (2,377) (5,655)
(148) (26) (19) (37) 917 (828)

869 604 857 916 1,979 1,607

551 (6,174) (2,074) (984) (2,275) 1,270

5,257 4,725 5,101 5,610 5,598 7,014

954% (77%) ### ### ### 552%

14,424 159 440 1,262 10,430 4,300

(9,167) 4,566 4,661 4,348 (4,833) 2,715

274% 3% 9% 23% 186% 61%

 GROWTH TREND ANALYSIS
TOTAL 9 YEARS 5 YEARS 3 YEARS

(13,382) (218%) 18% (185%)

46,332 25% 6% 11%

(346%)

14%
ADANI POWER LTD

Narration Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18

Cash from Operating Activity 964.36 3,000.54 3,237.84 5,823.52 5,257.21 4,725.20 5,101.15
Cash from Investing Activity ### ### ### ### ### ### -520.43
Cash from Financing Activity ### 860.57 1,631.03 ### ### ### ###
Net Cash Flow -154.23 -203.39 169.13 -57.52 -147.85 -25.77 -19.39
-147.85
 SCREENER.IN

Mar-19 Mar-20 Mar-21

5,610.38 5,597.55 7,014.35
-984.02 ### ###
### ### ###
-37.08 916.56 -828.06
 Ratio Analysis
COMPANY NAME >> A
INR (in crores) Mar-12 Mar-13 Mar-14 Mar-15
Operating Profit Margin (OPM) % 34.0% 14.3% 30.0% 25.0%
Net Profit Margin (NPM) % n/m n/m n/m n/m
Tax Payout % 86717.6% (26.2%) n/m n/m
Interest Coverage Ratio (x) 1.0x (0.1x) 0.7x 0.8x
Earnings Per Share (EPS) (1.35) (9.59) (1.01) (2.84)
PE Ratio (x) (50.7x) (4.2x) (48.0x) (16.7x)

Net Fixed Asset Turnover 0.3x 0.4x 0.4x

Receivables Days 33 27 49
Inventory Turnover 5.6x 10.8x 12.8x
Debt To Equity 6.4x 9.7x 6.7x 7.8x
Return on average Equity (RoAE) (44.4%) (5.4%) (13.3%)
Return on average Capital Employed (0.3%) 5.8% 8.0%

CFO/PAT (atleast 80%) (327%) (131%) (1114%) (714%)

FIVE STAGE MODEL - DUPONT ANALYSIS

Tax Burden (Net Income ÷ PBT) (866.18) 1.26 0.21 1.00
Interest Burden (PBT ÷ EBIT) 0.00 (1.55) (0.29) (0.14)
EBIT Margin (EBIT ÷ Sales) 32.9% 17.5% 30.9% 31.4%
Asset Turnover (Sales ÷ Total Assets) 0.1x 0.1x 0.3x 0.3x
Equity Multiplier (Total Assets ÷ Sharehol 8.5x 12.7x 9.0x 10.2x
Return on Equity (4.9%) (53.5%) (4.4%) (14.2%)

NAVIGATION MENU
Ratio Analysis
ADANI POWER LTD
Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21
34.7% 26.4% 26.8% 20.9% 21.7% 33.1%
2.2% n/m n/m n/m n/m 4.8%
n/m n/m n/m (0.9%) (0.4%) 44.5%
1.1x (0.1x) 0.6x 0.8x 0.6x 1.4x
1.65 (16.01) (5.38) (2.55) (5.90) 3.29
20.9x (2.5x) (4.4x) (18.9x) (4.7x) 25.8x

0.5x 0.4x 0.4x 0.5x 0.5x 0.5x

115 163 124 112 117 138
15.6x 13.4x 15.4x 22.8x 14.1x 11.5x
7.1x 17.5x 59.4x (163.3x) (25.8x) (41.0x)
8.4% (118.0%) (106.7%) (327.2%) 187.8% (74.5%)
10.7% (0.6%) 6.4% 9.3% 6.1% 14.2%

954% (77%) (246%) (570%) (246%) 552%

1.47 0.99 1.00 1.01 1.00 0.55

0.04 (2.71) (0.34) (0.13) (0.37) 0.22
33.9% 10.2% 30.5% 31.1% 22.9% 40.4%
0.3x 0.3x 0.3x 0.4x 0.4x 0.3x
10.1x 23.8x 78.2x (236.3x) (35.1x) (61.6x)
7.4% (205.8%) (233.2%) 342.2% 106.6% (99.6%)
 TTM
26.4%
1.2%
 DuPont Ana
COMPANY NAME >>
INR (in crores) Mar-12 Mar-13
Sales 4,035 6,692
Profit before tax (PBT) 0 (1,818)
EBIT (Operating Profit + Other Income) 1,328 1,174
Interest Expense (738) (1,703)
Income Tax (295) (477)
Net Income (295) (2,295)
Total Assets 51,384 54,688
Shareholders Equity 6,041 4,293

THREE STAGE MODEL

Net Profit Margin (Net Income ÷ Sales) (7.3%) (34.3%)
Asset Turnover (Sales ÷ Total Assets) 0.1x 0.1x
Equity Multiplier (Total Assets ÷ Shareholders Equity) 8.5x 12.7x
Return on Equity (4.9%) (53.5%)

FIVE STAGE MODEL

Tax Burden (Net Income ÷ PBT) (866.18) 1.26
Interest Burden (PBT ÷ EBIT) 0.00 (1.55)
EBIT Margin (EBIT ÷ Sales) 32.9% 17.5%
Asset Turnover (Sales ÷ Total Assets) 0.1x 0.1x
Equity Multiplier (Total Assets ÷ Shareholders Equity) 8.5x 12.7x
Return on Equity (4.9%) (53.5%)

CHECK 1 1

NAVIGATION MENU
DuPont Analysis
ADANI POWER LTD
Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
15,328 18,683 25,377 22,616 20,304 23,884
(1,370) (816) 375 (6,260) (2,079) (976)
4,730 5,866 8,601 2,314 6,190 7,431
(4,162) (4,864) (5,560) (5,902) (5,570) (5,657)
1,079 0 176 86 5 (9)
(291) (816) 551 (6,174) (2,074) (984)
58,739 58,474 75,794 71,511 69,528 67,985
6,543 5,725 7,468 3,000 889 (288)

(1.9%) (4.4%) 2.2% (27.3%) (10.2%) (4.1%)

0.3x 0.3x 0.3x 0.3x 0.3x 0.4x
9.0x 10.2x 10.1x 23.8x 78.2x (236.3x)
(4.4%) (14.2%) 7.4% (205.8%) (233.2%) 342.2%

0.21 1.00 1.47 0.99 1.00 1.01

(0.29) (0.14) 0.04 (2.71) (0.34) (0.13)
30.9% 31.4% 33.9% 10.2% 30.5% 31.1%
0.3x 0.3x 0.3x 0.3x 0.3x 0.4x
9.0x 10.2x 10.1x 23.8x 78.2x (236.3x)
(4.4%) (14.2%) 7.4% (205.8%) (233.2%) 342.2%

1 1 1 1 1 1
Mar-20 Mar-21
26,468 26,221
(2,265) 2,289
6,056 10,597
(5,315) (5,106)
(10) (1,019)
(2,275) 1,270
75,025 78,535
(2,135) (1,275)

(8.6%) 4.8%
0.4x 0.3x
(35.1x) (61.6x)
106.6% (99.6%)

1.00 0.55
(0.37) 0.22
22.9% 40.4%
0.4x 0.3x
(35.1x) (61.6x)
106.6% (99.6%)

1 1
ADANI POWER LTD

PEG Ratio

Report Date Mar-12 Mar-13 Mar-14 Mar-15 Mar-16

PE Ratio -51.98 -4.24 -48.04 -16.65 20.85

EPS -1.32 -9.59 -1.01 -2.84 1.65
EPS Growth Rate 628% -89% 181% -158%
Quarterly Sep-19 Dec-19 Mar-20 Jun-20 Sep-20
Profit 3.9 -702.4 -1312.9 -682.5 2228.1
Equity Shares (Cr) 218.0 239.3 287.2 287.2 333.4
EPS -9.38 -1.41
EPS Growth Rate -85%

Growth Rates Yearly Quarterly

EPS -36.0% -655.7%

TTM
PE Ratio 305.2

Current Price 220.95 220.95

EPS 4yr Avg -36% -36%
Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 -8.48

-2.49 -4.35 -18.88 -4.71 25.83

-16.01 -5.45 -2.55 -5.90 3.29
-1069% -66% -53% 131% -156%
Dec-20 Mar-21 Jun-21 Sep-21 Dec-21
-288.7 13.1 278.2 -230.6 218.5
Mod
385.7 385.7 385.7 385.7 385.7
-0.15 3.29 5.78 -0.59 0.72
PEG < 1.5
-90% -2366% 76% -110% -222%
Under Valued
Current Price
ADANI POWER LTD 221.0
Avoid the sto
Pref
Ideal
 PEG

Estimated PEG Ratio

-8.48

Modified PEG Scores for Emerging Markets

PEG < 1.5 PEG ( 2 - 3 ) PEG > 4

Under Valued Fair Valued Over Valued

Importaint Notes :
Avoid the stock if the Quarterly EPS Growth Rate is Negative
Prefer Stocks with PEG Ratio Lower than 2
Ideal Investment point is PEG Ratio less than 1
COMPANY NAME ADANI POWER LTD
LATEST VERSION 2.10 PLEAS
CURRENT VERSION 2.10

META
Number of shares 385.69
Face Value 10
Current Price 220.95
Market Capitalization 85219.07

PROFIT & LOSS

Report Date Mar-12 Mar-13 Mar-14 Mar-15
Sales 4034.51 6692.04 15328.08 18683.21
Raw Material Cost
Change in Inventory
Power and Fuel 2157.5 4924.2 9305.62 11619.13
Other Mfr. Exp 122.06 253.55 791.66 1120.2
Employee Cost 62.63 149.04 235.05 320.17
Selling and admin 229.35 321.18 430.14 511.23
Other Expenses 89.86 84.46 -27.67 434.73
Other Income -44.8 214.71 136.81 1188.34
Depreciation 590.44 1289.68 1937.47 1818.19
Interest 737.53 1702.86 4162.16 4863.53
Profit before tax 0.34 -1818.22 -1369.54 -815.63
Tax 294.84 476.79 -1078.99
Net profit -287.27 -2295.01 -290.55 -815.63
Dividend Amount

Quarters
Report Date Sep-19 Dec-19 Mar-20 Jun-20
Sales 5915.69 6574.82 6172.43 5203.83
Expenses 4566.85 5127.12 5967.87 3815.33
Other Income 900.73 109.7 155.14 152.36
Depreciation 765.26 783.18 768.41 782.61
Interest 1326.33 1422.77 1243.89 1391.87
Profit before tax 157.98 -648.55 -1652.6 -633.62
Tax 154.1 53.85 -339.74 48.84
Net profit 3.88 -702.36 -1312.9 -682.46
Operating Profit 1348.84 1447.7 204.56 1388.5

BALANCE SHEET
Report Date Mar-12 Mar-13 Mar-14 Mar-15
Equity Share Capital 2180.04 2393.27 2871.92 2871.92
Reserves 3861.27 1900.14 3671.47 2852.7
Borrowings 38600.34 41795.44 44150.23 44741.97
Other Liabilities 6742.09 8599.01 8045.32 8007.63
Total 51383.74 54687.86 58738.94 58474.22
Net Block 15804.2 29088.6 46364.53 45079.68
Capital Work in Progress 26721.48 18976.5 3659.83 191.34
Investments 19.01 22.37 115.32 357.3
Other Assets 8839.05 6600.39 8599.26 12845.9
Total 51383.74 54687.86 58738.94 58474.22
Receivables 449.2 758.48 1543.27 3489.54
Inventory 826.75 1555.67 1280.96 1629.05
Cash & Bank 3240.8 1718.09 830.63 856.25
No. of Equity Shares 2180035200 2393272110 2871922100 2871922100
New Bonus Shares
Face value 10 10 10 10

2,096.96 -1,998.62 553.94 4,838.27

CASH FLOW:
Report Date Mar-12 Mar-13 Mar-14 Mar-15
Cash from Operating Activity 964.36 3000.54 3237.84 5823.52
Cash from Investing Activity -13474.31 -4064.5 -4699.74 -4737.06
Cash from Financing Activity 12355.72 860.57 1631.03 -1143.98
Net Cash Flow -154.23 -203.39 169.13 -57.52

PRICE: 68.5 40.65 48.6 47.3

DERIVED:
Adjusted Equity Shares in Cr 218.00 239.33 287.19 287.19
 PLEASE DO NOT MAKE ANY CHANGES TO THIS SHEET

Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21

25377.33 22615.51 20304.28 23884.18 26467.72 26221.48

14745.14 14630.49 12535.25 15952.45 17580.39 14781.15

1025.25 1260.02 1551.86 1680.59 1864.95 1838.18
378.89 361.01 353.9 363.47 427.04 431.89
509.04 307.25 225.3 222.73 454.63 281.14
-83.12 76.7 202.04 681.53 407.07 200.96
-201.37 -3666.12 754.1 2447.87 322.76 1908.56
2665.82 2672.36 2698.72 2750.62 3006.5 3201.65
5560.22 5901.73 5570.23 5656.52 5314.82 5106.33
374.72 -6260.17 -2078.92 -975.86 -2264.92 2288.74
-176.08 -86.07 -5.15 8.54 9.85 1018.76
550.8 -6174.1 -2102.95 -984.4 -2274.77 1269.98

Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21

7749.21 6894.84 6373.6 6568.86 5183.66 5360.88
3706.47 5271.9 4759.26 4920.85 4020.35 3590.11
1043.07 204.36 528.41 644.35 388.1 232.7
827.84 809.65 781.55 774.34 784.96 784.36
1364.04 1223.4 1127.02 1068.31 976.36 1014.77
2893.93 -205.75 234.18 449.71 -209.91 204.34
665.88 82.99 221.05 171.49 20.69 -14.15
 2228.05 -288.74 13.13 278.22 -230.6 218.49
4042.74 1622.94 1614.34 1648.01 1163.31 1770.77

Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21

3333.94 3856.94 3856.94 3856.94 3856.94 3856.94
4133.92 -857.38 -2967.61 -4144.65 -5991.5 -5132.28
52729.32 52484.37 52834.81 46979.7 55122.55 52322.93
15597.03 16027.12 15803.93 21292.61 22037.01 27487.88
75794.21 71511.05 69528.07 67984.6 75025 78535.47
56941.22 54390.93 52137.14 50418.76 55845.81 52851.3
87.92 124.61 119.86 350.08 2346.77 6439.42
0.06 164.33 0.01 2.72 2.8 20.1
18765.01 16831.18 17271.06 17213.04 16829.62 19224.65
75794.21 71511.05 69528.07 67984.6 75025 78535.47
12476.6 7704.34 6069.81 8550.99 8366.47 11437.92
1619.2 1760.41 873.98 1224.08 2522.77 2025.11
868.7 604.17 856.61 915.88 1979.31 1607.32
3333938941 3856938941 3856938941 3856938941 3856938941 3856938941

10 10 10 10 10 10

3,167.98 804.06 1,467.13 -4,079.57 -5,207.39 -8,263.23

Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21

5257.21 4725.2 5101.15 5610.38 5597.55 7014.35
-2692.11 -1212.04 -520.43 -984.02 -2303.81 -2187.57
-2712.95 -3538.93 -4600.11 -4663.44 -2377.18 -5654.84
-147.85 -25.77 -19.39 -37.08 916.56 -828.06

34.45 39.9 23.7 48.2 27.75 85.05

333.39 385.69 385.69 385.69 385.69 385.69

How to use it?
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8 way to choose Good Fundamentals Stocks

1.SalesGrowth(5 yr)>12-15%
2.ProfitGrowth(5 yr) >12-15%
3.Eps growth >15%
4.Debt to equity below 0.6
5 PE Ratio < Industry PE
6.P/B Ratio <5 1250
7.Mcap/Sales <5
8.Technical Big Range Breakout
… do ANYTHING.

dalal-street.in
 ADANI POWER LTD CMP/EPS = PE 67.1 Parth
Year on Year 3/31/2017 3/31/2018 3/31/2019
1 Market Cap 15389.1864Crs 9140.9453Crs 18590.4457Crs
2 EPS -16.01 -5.45 -2.55
3 PE Ratio -2.49 -4.35 -18.88
4 Share Capital 3856.94 3856.94 3856.94
5 Cash Reserve -857 -2968 -4145
6 Debt 52484 52835 46980
7 Current Assets 71511 69528 67985
8 Current Liabilities 16027 15804 21293
*9 Top Line 22616 20304 23884
10 Bottom Line -6174 -2103 -984
11 ROCE -1% 6% 9%
*12 ROE/Oper.Profit Margin -206% -236%
13 CF from OpertngActvty 4725.20 5101.15 5610.38
14 Net Cash Flow -25.77 -19.39 -37.08
15 Reserves > Debt & Liabilities
16 Book Value 8 2 #VALUE!
17 Net Profit Margin -27% -10% -4%
18 Fixed Assete T-O Ratio 0 0 0
19 Net Working Capital 45922 43975 35462
20 NetWorkingCapital/Sales 203% 217% 148%
21 Debtor Days 163 124 112
22 Inventory Days 27 24 16
23 Debt to Total Capital 95% 98% 101%
*24 Other Income -3666 754 2448
25 CashFlow from Investing -1212 -520 -984
26 CashFlow from Financing -3539 -4600 -4663
27 Cum. CashFlow From Operation 9982 9826 10712
28 Cumulative Net Profit 1939 -276 291
29 Interest CoverageRatio (0.1x) 0.6x 0.8x
30* CFO/PAT (atleast 80%) -77% -246% -570%
PEG Ratio < 1.5 UnderValued PEG 2-3 Fair Valued
More things we must Track are Promoter Holding Pledging Data

Quarter On Quarter Mar-20 Jun-20 Sep-20

Top Line 6172.43 5204 7749
Bottom Line -1313 -682 2228
Operating Profit Margin 3% 27% 52%

Top Line Increasing No Yes

Bottom Line Increasing Yes Yes
Operating Profit Margin Increasing Yes Yes
 Debt & Equity Calculations
Report Date Mar/14 Mar/15 Mar/16
Equity Share Capital 2871.92 2871.92 3333.94
Reserves 3671.47 2852.7 4133.92
Borrowings 44150.23 44741.97 52729.32
Other Liabilities 8045.32 8007.63 15597.03

Reserves 6543.39 5724.62 7467.86

Debt + Liabilities 52195.55 52749.6 68326.35
Inc

* Top Line / Operating Profit Margin and Other Income are Most Important in case of manufacturing Companies. TopLine
* PEG Ratio Work Only for Non-Dividend yielding Stocks.
* PEG Ratio is not a Good Matric for Assete Heavy Industries like…Real Estate, Telecom etc. here Price to Book Ratio is m

1 Point Number 25 and 27 - Operating cash flow Plus Cash flow from Investing should be graeter then Zero then we can c
2 In board of Director no family and Friends.
3 ROC > 15% in last 10 Years.
4 Company must Compete on Price Base ie wether it Reduces product prices in Competition or not if it does not good for
6 If Net Profit is increasing but Operating Profit is not Increasing means a Big part of profit is coming from other Income a
 3856900000 220.95 Conclusion
3/31/2020 3/31/2021 3/31/2018 3/31/2019 3/31/2020 ### Odds
10703.0056Crs 85218.2055Crs p p 10
-5.90 3.29 p p p
-4.71 25.83 q q
3856.94 3856.94 n n n n
-5992 -5132 p
55123 52322.93 q q
75025 78535 p p
22037 27488 q
26468 26221 p p
-2275 1270 p p p
6% 14% p p p
p n n
5597.55 7014.35 p p p
916.56 -828.06 p p

#VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

-9% 5% p p p
0 0 p p p
43975 38298 p
166% 146% q q
117 138 q q
26 32 q q
104% 102% q
323 1909 q
-2304 -2188 q q
-2377 -5655 q q q
11208 12612 p p p
48 -12 p
0.6x 1.4x p p p
-246% 552% q q q p
PEG > 4 Over Valued -8.48 Undervalued 10
FII-DII-MF Holdings Odds

Dec-20 Mar-21 Jun-21 Sep-21 Dec-21

6895 6374 6569 5184 5361
-289 13 278 -231 218
24% 25% 25% 22% 33%

No No Yes No Yes
No Yes Yes No Yes
No Yes No No Yes
 Mar/17 Mar/18 Mar/19 Mar/20 Mar/21
3856.94 3856.94 3856.94 3856.94 3856.94
-857.38 -2967.61 -4144.65 -5991.5 -5132.28
52484.37 52834.81 46979.7 55122.55 52322.93
16027.12 15803.93 21292.61 22037.01 27487.88

2999.56 889.33 -287.71 -2134.56 -1275.34

68511.49 68638.74 68272.31 77159.56 79810.81

manufacturing Companies. TopLine & OPM should be Increasing and Other Income should be Zero.

m etc. here Price to Book Ratio is more reliable.

be graeter then Zero then we can conclude Company is Realy earning Profit - Sourabh Mukhereja - https://www.youtube.com/watch?v=3

etition or not if it does not good for company.

rofit is coming from other Income and that is not good for Company.
Favours
19

1
20
Favours
FINAL
ww.youtube.com/watch?v=3dfvVP36VxE&t=496s
ADANI POWER LTD Quarterly Data
Sep-19 Dec-19 Mar-20 Jun-20
5916 6575 6172 5204
SALES Y-o-Y Sep-20 Y Dec-20 Y Mar-21 Y Jun-21
Q-o-Q 7749 6895 6374 Y 6569

Sep-19 Dec-19 Mar-20 Jun-20

3.9 -702.4 -1312.9 -682.5
Net Profit Y-o-Y Sep-20 Y Dec-20 Y Mar-21 Y Jun-21
Q-o-Q 2228.1 -288.7 Y 13.1 Y 278.2

Sep-19 Dec-19 Mar-20 Jun-20

1348.8 1447.7 204.6 1388.5
Operating Y-o-Y Sep-20 Y Dec-20 Y Mar-21 Y Jun-21
Profit Q-o-Q 4042.7 1622.9 1614.3 Y 1648.0

Sep-19 Dec-19 Mar-20 Jun-20

1326.3 1422.8 1243.9 1391.9
Interest Y-o-Y Sep-20 YES Dec-20 YES Mar-21 YES Jun-21
Q-o-Q 1364.0 YES 1223.4 YES 1127.0 YES 1068.3

Sep-19 Dec-19 Mar-20 Jun-20

158.0 -648.6 -1652.6 -633.6
PBT Y-o-Y Sep-20 Y Dec-20 Y Mar-21 Y Jun-21
Q-o-Q 2893.9 -205.8 Y 234.2 Y 449.7

Sep-19 Dec-19 Mar-20 Jun-20

1.30 1.28 1.03 1.36
Sales/Expense Y-o-Y Sep-20 Y Dec-20 Y Mar-21 Jun-21
Q-o-Q 2.09 1.31 Y 1.34 1.33
Sep-20 Dec-20
7749 6895
Sep-21 Dec-21
5184 Y 5361

Sep-20 Dec-20
2228.1 -288.7
Sep-21 Y Dec-21
-230.6 Y 218.5

Sep-20 Dec-20
4042.7 1622.9
Sep-21 Y Dec-21
1163.3 Y 1770.8

Sep-20 Dec-20
1364.0 1223.4
YES Sep-21 YES Dec-21
YES 976.4 1014.8

Sep-20 Dec-20
2893.9 -205.8
Sep-21 Y Dec-21
-209.9 Y 204.3

Sep-20 Dec-20
2.09 1.31
Sep-21 Y Dec-21
1.29 Y 1.49
Q-Sales 9/30/2019 ### 3/31/2020 6/30/2020 9/30/2020 ### 3/31/2021 6/30/2021
ADANI POWER LTD 5915.69 6574.82 6172.43 5203.83 7749.21 6894.84 6373.6 6568.86
L&T TECHNOLOGY SE 1343.1 1347.5 1402.1 1422.9 1446.6 1294.7 1313.8 1400.7
ORACLE FINANCIAL 1214.92 1275.1 1162.48 1160.15 1263.55 1337.26 1197.39 1238.42
TATA ELXSI LTD 405.1 361.71 385.83 423.44 438.89 400.49 430.18 477.1
COFORGE LTD 972.2 962.7 1038.5 1073.4 1109.3 1057 1153.7 1190.6
PERSISTENT SYSTEM 831.85 832.11 884.6 922.73 926.37 991.39 1007.75 1075.4
HAPPIEST MINDS TE 0 0 175.06 171.5 186.35 177.02 182.84 192.84
MPHASIS LTD 2024.96 2062.56 2158.11 2276.72 2346.15 2288.21 2435.43 2474.39
TEXMO PIPES & PRO 85.72 128.93 50.17 77.71 71.1 81.63 81.3 128.28

Y-Sales ### ### ### ### ### ### ### ###

ADANI POWER LTD 4034.51 6692.04 15328.08 18683.21 25377.33 22615.51 20304.28 23884.18
L&T TECHNOLOGY SE 0 0 0 2618.63 3066.2 3248.3 3747.1 5078.3
ORACLE FINANCIAL 3146.68 3474 3741.32 3904.91 4131.22 4426.53 4527.47 4958.9
TATA ELXSI LTD 514.46 604.69 772.1 849.4 1075.21 1237.31 1386.3 1596.93
COFORGE LTD 1576.47 2021.36 2304.99 2372.5 2687.9 2802.1 2991.4 3676.2
PERSISTENT SYSTEM 1000.31 1294.51 1669.15 1891.25 2312.33 2878.44 3033.7 3365.94
HAPPIEST MINDS TE 0 7.82 68.66 170.86 341.16 430.77 443.65 590.36
MPHASIS LTD 5357.33 5796.3 2593.83 5794.81 6080.78 6076.36 6545.84 7730.98
TEXMO PIPES & PRO 175.32 205.16 236.59 308.79 252.72 294.68 248.75 305.9

Q-PAT 9/30/2019 ### 3/31/2020 6/30/2020 9/30/2020 ### 3/31/2021 6/30/2021

ADANI POWER LTD 3.88 -702.36 -1312.9 -682.46 2228.05 -288.74 13.13 278.22
L&T TECHNOLOGY SE 191.5 203.9 205.8 204.1 204.8 117.2 165.5 186.1
ORACLE FINANCIAL 326 377.39 358.85 456.76 269.23 479.79 392.07 429.68
TATA ELXSI LTD 71.29 48.79 49.81 75.42 82.08 68.87 78.88 105.2
COFORGE LTD 105.5 87.6 119.5 123.3 113.6 79.9 120.7 122
PERSISTENT SYSTEM 84.47 82.47 86.07 87.93 83.82 90.01 101.99 120.92
HAPPIEST MINDS TE 0 0 26.74 21.51 4.89 48.78 34.08 42.15
MPHASIS LTD 266.15 264.7 273.31 293.6 353.23 275.12 299.23 325.53
TEXMO PIPES & PRO 0.66 1.3 0.4 1.28 0.97 1.33 1.48 3.19
Y-Sales ### ### ### ### ### ### ### ###
ADANI POWER LTD -287.27 -2295.01 -290.55 -815.63 550.8 -6174.1 -2102.95 -984.4
L&T TECHNOLOGY SE 0 0 0 310.9 419.1 424.9 506 765.6
ORACLE FINANCIAL 909.27 1075.14 1359.32 1192.32 1048.89 1185.39 1237.04 1385.9
TATA ELXSI LTD 33.95 20.99 75.11 102.9 154.81 174.78 240.04 289.97
COFORGE LTD 197.24 213.22 230.53 114.07 270 250.1 280.2 403.3
PERSISTENT SYSTEM 141.78 187.62 249.28 290.63 277.3 301.47 323.09 351.68
HAPPIEST MINDS TE 0 -29.34 -47.23 -66.25 5.45 4.24 -13.08 4.11
MPHASIS LTD 792.32 743.8 302.68 674.64 631.51 791.58 837.5 1073.35
TEXMO PIPES & PRO 4.19 1.26 1.85 3.41 3.3 -1.34 0.16 2.97
9/30/2021 ### Quaterly Sales
5183.66 5360.88
10000
1440.5 1518.4
1210.86 1397.37 5000
518.4 558.32
1261.5 1461.6 0
9/1/2019 1/1/2020 5/1/2020 9/1/2020 1/1/2021 5/1/2021 9/1/2021
1113.36 1229.93
208.26 230.41 ADANI POWER LTD
2524.28 2690.83 L&T TECHNOLOGY SERVICES LTD
130.44 128.72 ORACLE FINANCIAL SERVICES SOFTWARE LTD
TATA ELXSI LTD
COFORGE LTD
PERSISTENT SYSTEMS LTD
HAPPIEST MINDS TECHNOLOGIES LTD
MPHASIS LTD

### ### Yearly Sales

26467.72 26221.48
30000
5619.1 5449.7
20000
4861.28 4983.94
10000
1609.86 1826.16
0
4183.9 4662.8
1/1/2012 1/1/2014 1/1/2016 1/1/2018 1/1/2020
3565.81 4187.89
698.21 760.96 ADANI POWER LTD
L&T TECHNOLOGY SERVICES LTD
8843.54 9722.31
ORACLE FINANCIAL SERVICES SOFTWARE LTD
325.52 421.66 TATA ELXSI LTD
COFORGE LTD
PERSISTENT SYSTEMS LTD
HAPPIEST MINDS TECHNOLOGIES LTD
MPHASIS LTD

9/30/2021 ###
-230.6 218.49 Quarterly Net-Profi t
194.5 216.2 3000
460.31 524.19 2000
115.17 113.38 1000
133 123.6 0
9/1/2019
-1000 1/1/2020 5/1/2020 9/1/2020 1/1/2021 5/1/2021 9/1/2021
137.76 151.25 -2000
36.92 35.01
316.94 339.69 ADANI POWER LTD
L&T TECHNOLOGY SERVICES LTD
4.74 3.77 ORACLE FINANCIAL SERVICES SOFTWARE LTD
TATA ELXSI LTD
COFORGE LTD
PERSISTENT SYSTEMS LTD
HAPPIEST MINDS TECHNOLOGIES LTD
MPHASIS LTD
 ADANI POWER LTD
L&T TECHNOLOGY SERVICES LTD
ORACLE FINANCIAL SERVICES SOFTWARE LTD
TATA ELXSI LTD
COFORGE LTD
PERSISTENT SYSTEMS LTD
HAPPIEST MINDS TECHNOLOGIES LTD
MPHASIS LTD

### ###
-2274.77 1269.98 Yearly Net-Profi t
818.6 663.3 4000
1462.22 1761.86 2000
0
256.1 368.12 -2000 1/1/2012 1/1/2014 1/1/2016 1/1/2018 1/1/2020
444 455.6 -4000
-6000
340.29 450.68 -8000
73.43 161.93
1184.84 1216.81 ADANI POWER LTD
L&T TECHNOLOGY SERVICES LTD
3.94 10.83 ORACLE FINANCIAL SERVICES SOFTWARE LTD
TATA ELXSI LTD
COFORGE LTD
PERSISTENT SYSTEMS LTD
HAPPIEST MINDS TECHNOLOGIES LTD
MPHASIS LTD
Q-Sales 9/30/2019 ### 3/31/2020 6/30/2020 9/30/2020 ### 3/31/2021 6/30/2021
ADANI POWER LTD 11% -6% -16% 49% -11% -8% 3%
L&T TECHNOLOGY SERVICES LT 0% 4% 1% 2% -11% 1% 7%
ORACLE FINANCIAL SERVICES 5% -9% 0% 9% 6% -10% 3%
TATA ELXSI LTD -11% 7% 10% 4% -9% 7% 11%
COFORGE LTD -1% 8% 3% 3% -5% 9% 3%
PERSISTENT SYSTEMS LTD 0% 6% 4% 0% 7% 2% 7%
HAPPIEST MINDS TECHNOLOGI #DIV/0! #DIV/0! -2% 9% -5% 3% 5%
MPHASIS LTD 2% 5% 5% 3% -2% 6% 2%
TEXMO PIPES & PRODUCTS LT 50% -61% 55% -9% 15% 0% 58%

Y-Sales ### ### ### ### ### ### ### ###

ADANI POWER LTD 66% 129% 22% 36% -11% -10% 18%
L&T TECHNOLOGY SERVICES LT #DIV/0! #DIV/0! #DIV/0! 17% 6% 15% 36%
ORACLE FINANCIAL SERVICES 10% 8% 4% 6% 7% 2% 10%
TATA ELXSI LTD 18% 28% 10% 27% 15% 12% 15%
COFORGE LTD 28% 14% 3% 13% 4% 7% 23%
PERSISTENT SYSTEMS LTD 29% 29% 13% 22% 24% 5% 11%
HAPPIEST MINDS TECHNOLOGI #DIV/0! 778% 149% 100% 26% 3% 33%
MPHASIS LTD 8% -55% 123% 5% 0% 8% 18%
TEXMO PIPES & PRODUCTS LT 17% 15% 31% -18% 17% -16% 23%

Q-PAT 9/30/2019 ### 3/31/2020 6/30/2020 9/30/2020 ### 3/31/2021 6/30/2021

ADANI POWER LTD 3.88 -18202% 87% -48% -426% -113% -105% 2019%
L&T TECHNOLOGY SE 191.5 6% 1% -1% 0% -43% 41% 12%
ORACLE FINANCIAL 326 16% -5% 27% -41% 78% -18% 10%
TATA ELXSI LTD 71.29 -32% 2% 51% 9% -16% 15% 33%
COFORGE LTD 105.5 -17% 36% 3% -8% -30% 51% 1%
PERSISTENT SYSTEM 84.47 -2% 4% 2% -5% 7% 13% 19%
HAPPIEST MINDS TE 0 #DIV/0! #DIV/0! -20% -77% 898% -30% 24%
MPHASIS LTD 266.15 -1% 3% 7% 20% -22% 9% 9%
TEXMO PIPES & PRO 0.66 97% -69% 220% -24% 37% 11% 116%
Y-Sales ### ### ### ### ### ### ### ###
ADANI POWER LTD -287.27 699% -87% 181% -168% -1221% -66% -53%
L&T TECHNOLOGY SE 0 #DIV/0! #DIV/0! #DIV/0! 35% 1% 19% 51%
ORACLE FINANCIAL 909.27 18% 26% -12% -12% 13% 4% 12%
TATA ELXSI LTD 33.95 -38% 258% 37% 50% 13% 37% 21%
COFORGE LTD 197.24 8% 8% -51% 137% -7% 12% 44%
PERSISTENT SYSTEM 141.78 32% 33% 17% -5% 9% 7% 9%
HAPPIEST MINDS TE 0 #DIV/0! 61% 40% -108% -22% -408% -131%
MPHASIS LTD 792.32 -6% -59% 123% -6% 25% 6% 28%
TEXMO PIPES & PRO 4.19 -70% 47% 84% -3% -141% -112% 1756%
9/30/2021 ###
-21% 3%
3% 5%
-2% 15%
9% 8%
6% 16%
4% 10%
8% 11%
2% 7%
2% -1%

### ###
11% -1%
11% -3%
-2% 3%
1% 13%
14% 11%
6% 17%
18% 9%
14% 10%
6% 30%

9/30/2021 ###
-183% -195%
5% 11%
7% 14%
9% -2%
9% -7%
14% 10%
-12% -5%
-3% 7%
49% -20%
 ### ###
131% -156%
7% -19%
6% 20%
-12% 44%
10% 3%
-3% 32%
1687% 121%
10% 3%
33% 175%