- Aventis Pharma's net profit decreased from Rs. 230.75 Cr in 2010 to Rs. 191.19 Cr in 2011, a decrease of 17.14%. Net sales increased from Rs. 1,141.91 Cr to Rs. 1,293.09 Cr over the same period. - Total income increased from Rs. 1,284.07 Cr in 2010 to Rs. 1,371.59 Cr in 2011, while total expenses increased from Rs. 953.7 Cr to Rs. 1,060.85 Cr. - Between 2009 and 2010, net profit increased from Rs. 157.41 Cr to Rs. 230.75 Cr, an increase of 46.59%, as

1. INSTITUTE OF PROFESSIONAL EDUCATION &
RESEARCH
ACCOUNTING FOR MANAGERS
ASSIGNMENT - 2
ON
AVENTIS PHARMA
SUBMITTED TO
Prof. Abhishek Jain
SUBMITTED BY
Gourav Bajaj
Manish Prajapati
Manoj Mandloi
Mansi Gangajaliwale
MBA- 1ST (Sec 1)
Group- 23

2. I.
Comparative statement :- For 3 year
Balance Sheet of
Aventis Pharma
------------------in Rs. Cr. ------------------
PARTICULAR
Sources Of Funds
Total Share Capital
Equity Share Capital
Share Application Money
Preference Share Capital
Reserves
Revaluation Reserves
Networth
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities
Application Of Funds
Gross Block
Less: Accum. Depreciation
Net Block
Capital Work in Progress
Investments
Inventories
Sundry Debtors
Cash and Bank Balance
Total Current Assets
Loans and Advances
Fixed Deposits
Total CA, Loans &
Advances
Deffered Credit
2011
23.03
23.03
0
0
1,081.64
11.96
1,116.63
0
0
0
1,116.63
Value
2010 change
change in %
23.03
23.03
0
0
978.33
12.79
1,014.15
0
0
0
1,014.15
0
0
0
0
103.31
-0.83
102.48
0
0
0
102.48
0
0
0
0
10.55
-6.48
10.10
0
0
0
10.10
967.92
230.95
736.97
30.23
0.36
254.27
72.97
62.24
389.48
196.32
172
375.5
204.45
171.05
13.3
0.36
241.32
60.44
18.35
320.11
282.06
637
592.42
26.5
565.92
16.93
0
12.95
12.53
43.89
69.37
-85.74
-465
157.76
12.96
330.85
127.29
0
5.36
20.73
239.18
21.67
-30.3
-72.99
757.8
0
1,239.17
0
-481.37
0
-38.8
0

3. Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets
Miscellaneous Expenses
Total Assets
Balance Sheet of
Aventis Pharma
PARTICULAR
Sources Of Funds
Total Share Capital
Equity Share Capital
Share Application Money
Preference Share Capital
Reserves
Revaluation Reserves
Networth
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities
Application Of Funds
Gross Block
Less: Accum. Depreciation
Net Block
Capital Work in Progress
Investments
Inventories
Sundry Debtors
Cash and Bank Balance
250.81
157.93
408.74
349.06
0
1,116.62
189.17
220.56
409.73
829.44
0
1,014.15
61.64
-62.63
-0.99
-480.38
0
102.47
32.58
-28.39
-0.24
-57.91
0
10.10
------------------in Rs. Cr. ------------------
2010
Value
2009 change
23.03
23.03
0
0
978.33
12.79
1,014.15
0
0
0
1,014.15
23.03
23.03
0
0
895.14
13.63
931.8
0
0
0
931.8
375.5
204.45
171.05
13.3
0.36
241.32
60.44
18.35
334.57
189.68
144.89
27.14
5.19
231.14
52.74
9.45
0
0
0
0
83.19
-0.84
82.35
0
0
0
82.35
40.93
14.77
26.16
-13.84
-4.83
10.18
7.7
8.9
change in %
0
0
0
0
9.29
-6.16
8.83
0
0
0
8.83
12.23
7.78
18.05
-50.99
-93.06
4.40
14.59
94.17

4. Total Current Assets
Loans and Advances
Fixed Deposits
Total CA, Loans &
Advances
Deffered Credit
Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets
Miscellaneous Expenses
Total Assets
Balance Sheet of
Aventis Pharma
PARTICULAR
320.11
282.06
637
293.33
173.52
576.5
26.78
108.54
60.5
9.12
62.55
10.49
1,239.17
0
189.17
220.56
409.73
829.44
0
1,014.15
1,043.35
0
173.4
115.37
288.77
754.58
0
931.8
195.82
0
15.77
105.19
120.96
74.86
0
82.35
18.76
0
9.09
91.17
41.88
9.92
0
8.83
Value
2008 change
change in %
------------------in Rs. Cr. ------------------
2009
Sources Of Funds
Total Share Capital
Equity Share Capital
Share Application Money
Preference Share Capital
Reserves
Revaluation Reserves
Networth
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities
23.03
23.03
0
0
895.14
13.63
931.8
0
0
0
931.8
23.03
23.03
0
0
791.61
14.46
829.1
0
0
0
829.1
Application Of Funds
Gross Block
Less: Accum. Depreciation
Net Block
334.57
189.68
144.89
320.92
178.09
142.83
0
0
0
0
103.53
-0.83
102.7
0
0
0
102.7
13.65
11.59
2.06
0
0
0
0
13.07
-5.73
12.38
0
0
0
12.38
4.25
6.50
1.44

5. Capital Work in Progress
Investments
Inventories
Sundry Debtors
Cash and Bank Balance
Total Current Assets
Loans and Advances
Fixed Deposits
Total CA, Loans &
Advances
Deffered Credit
Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets
Miscellaneous Expenses
Total Assets
27.14
5.19
231.14
52.74
9.45
293.33
173.52
576.5
6.25
5.19
172.55
89.5
23.37
285.42
164.53
474
20.89
0
58.59
-36.76
-13.92
7.91
8.99
102.5
334.24
0
33.95
-41.07
-59.56
2.77
5.46
21.62
1,043.35
0
173.4
115.37
288.77
754.58
0
931.8
923.95
0
151.33
97.79
249.12
674.83
0
829.1
119.4
0
22.07
17.58
39.65
79.75
0
102.7
12.92
0
14.58
17.97
15.91
11.81
0
12.38
Value
change
change in %
13.58
29.9
13.2
-45.49
-39.42
6.81
0
12.96
28.46
8.06
-10.34
Aventis Pharma
Consolidated Profit &
Loss account
PARTICULAR
Income
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing
Expenses
------------------in Rs. Cr. ------------------
2011
1,324.50
31.41
1,293.09
68.36
10.14
1,371.59
2010
1,166.08
24.17
1,141.91
125.42
16.74
1,284.07
629.29
27.08
176.42
557.08
21.08
163.25
158.42
7.24
151.18
-57.06
-6.60
87.52
0.00
72.21
6.00
13.17
32.68
36.45
-3.77

6. Selling and Admin Expenses
Miscellaneous Expenses
Preoperative Exp Capitalised
Total Expenses
148.24
47.14
0
1,060.85
Operating Profit
PBDIT
Interest
PBDT
Depreciation
Other Written Off
Profit Before Tax
Extra-ordinary items
PBT (Post Extra-ord Items)
Tax
Reported Net Profit
Total Value Addition
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data (annualised)
Shares in issue (lakhs)
Earning Per Share (Rs)
Equity Dividend (%)
Book Value (Rs)
135.86
39.98
0
953.7
12.38
7.16
0.00
107.15
9.11
17.90
0
11.23
242.38
310.74
0.42
310.32
31.15
0
279.17
4.79
283.96
92.8
191.19
431.56
0
76
11.88
204.95
330.37
2.89
327.48
19.74
0
307.74
-10.28
297.46
66.72
230.75
396.61
0
126.67
20.89
230.31
83.01
330
479.65
230.31
100.19
550
434.79
37.43
-19.63
-2.47
-17.16
11.41
0
-28.57
15.07
-13.5
26.08
-39.56
34.95
0
-50.67
-9.01
0
0
-17.18
-220
44.86
18.26
-5.94
-85.46
-5.24
57.80
0
-9.28
-146.59
-4.53
39.08
-17.14
8.81
0
-40.00
-43.13
0
0
-17.14
-40
10.31
Aventis Pharma
Consolidated Profit
& Loss account
PARTICULAR
Income
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
Expenditure
Raw Materials
------------------in Rs. Cr. ------------------
2010
2009
1,166.08
24.17
1,141.91
125.42
16.74
1,284.07
1,048.23
20.96
1,027.27
49.18
61.89
1,138.34
557.08
546.79
Value
change
117.85
3.21
114.64
76.24
-45.15
145.73
0.00
10.29
change in %
11.24
15.31
11.15
155.02
-72.95
12.80
0
1.88

7. Power & Fuel Cost
Employee Cost
Other Manufacturing
Expenses
Selling and Admin
Expenses
Miscellaneous Expenses
Preoperative Exp
Capitalised
Total Expenses
21.08
163.25
19.5
143.95
1.58
19.30
8.10
13.40
36.45
30.33
6.12
20.17
135.86
39.98
119.03
28.8
16.83
11.18
14.13
38.81
0
953.7
0
888.4
0.00
65.30
0
7.35
Operating Profit
PBDIT
Interest
PBDT
Depreciation
Other Written Off
Profit Before Tax
Extra-ordinary items
PBT (Post Extra-ord
Items)
Tax
Reported Net Profit
Total Value Addition
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data
(annualised)
Shares in issue (lakhs)
Earning Per Share (Rs)
Equity Dividend (%)
Book Value (Rs)
204.95
330.37
2.89
327.48
19.74
0
307.74
-10.28
200.76
249.94
0.07
249.87
17.34
0
232.53
7.5
4.19
80.43
2.82
77.61
2.4
0
75.21
-17.78
2.08
32.17
4028.57
31.06
13.84
0
32.34
-237.06
297.46
66.72
230.75
396.61
0
126.67
20.89
240.03
82.59
157.41
341.62
0
46.06
7.83
57.43
-15.87
73.34
54.99
0
80.61
13.06
23.92
-19.21
46.59
16.09
0
175.01
166.79
230.31
68.35
200
398.67
0
0
31.84
350
36.12
0
0
46.58
175
9.06
230.31
100.19
550
434.79
Aventis Pharma
Consolidated Profit
& Loss account
PARTICULAR
Income
------------------in Rs. Cr. ------------------
2009
2008
Value
change
change in %

8. Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing
Expenses
Selling and Admin
Expenses
Miscellaneous Expenses
Preoperative Exp
Capitalised
Total Expenses
1,048.23
20.96
1,027.27
49.18
61.89
1,138.34
1,065.43
34.09
1,031.34
53.12
-22.36
1,062.10
Operating Profit
PBDIT
Interest
PBDT
Depreciation
Other Written Off
Profit Before Tax
Extra-ordinary items
PBT (Post Extra-ord
Items)
Tax
Reported Net Profit
Total Value Addition
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data
(annualised)
Shares in issue (lakhs)
Earning Per Share (Rs)
Equity Dividend (%)
Book Value (Rs)
200.76
249.94
0.07
249.87
17.34
0
232.53
7.5
222.19
275.31
0.34
274.97
18.21
0
256.76
2.89
-21.43
-25.37
-0.27
-25.1
-0.87
0
-24.23
4.61
-9.64
-9.21
-79.41
-9.12
-4.77
0
-9.43
159.51
240.03
82.59
157.41
341.62
0
46.06
7.83
259.65
93.44
166.2
319.1
0
36.85
6.26
-19.62
-10.85
-8.79
22.52
0
9.21
1.57
-7.55
-11.61
-5.28
7.05
0
24.99
25.07
230.31
68.35
200
398.67
230.31
72.16
160
353.72
0
0
-3.81
40
44.95
0
0
-5.27
25
12.70
546.79 467.69
19.5 20.42
143.95 119.2
30.33 25.32
-17.20
-13.13
-4.07
-3.94
84.25
76.24
0.00
79.10
-0.92
24.75
5.01
-1.61
-38.51
-0.39
-7.41
-376.78
7.17
0
16.91
-4.50
20.76
19.78
119.03 145.53
28.8 8.63
-26.50
20.17
-18.20
233.71
0 0
888.4 786.79
0.00
101.61
0
12.91

9. II.
Common size statement :- For 3 years
Balance Sheet of
Aventis Pharma
Particular
Sources Of Funds
Total Share Capital
Equity Share Capital
Share Application Money
Preference Share Capital
Reserves
Revaluation Reserves
Networth
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities
------------------in Rs. Cr. ------------------
year 2011 Percent
23.03
23.03
0
0
1,081.64
11.96
1,116.63
0
0
0
1,116.63
year
2010 Percent
year
2009
Perc
ent
2.06
23.03
2.06
23.03
0
0
0
0
96.86
978.33
1.07
12.79
100 1,014.15
0
0
0
0
0
0
100 1,014.15
2.27
2.27
0
0
96.46
1.261
100
0
0
0
100
23.03
23.03
0
0
895.14
13.63
931.8
0
0
0
931.8
2.47
2.47
0
0
96.06
1.46
100
0
0
0
100
37.02
20.15
16.86
1.31
0.035
23.7
5.95
1.80
31.56
27.81
62.81
334.57
189.68
144.89
27.14
5.19
231.14
52.74
9.45
293.33
173.52
576.5
35.90
20.35
15.54
2.91
0.55
24.80
5.66
1.01
31.47
18.62
61.86
111.9
7
0
18.60
12.38
Application Of Funds
Gross Block
Less: Accum. Depreciation
Net Block
Capital Work in Progress
Investments
Inventories
Sundry Debtors
Cash and Bank Balance
Total Current Assets
Loans and Advances
Fixed Deposits
967.92
230.95
736.97
30.23
0.36
254.27
72.97
62.24
389.48
196.32
172
86.68
20.68
66.00
2.70
0.03
22.77
6.5
5.57
34.88
17.58
15.40
Total CA, Loans & Advances
Deffered Credit
Current Liabilities
Provisions
757.8
0
250.81
157.93
67.86 1,239.17
0
0
22.46
189.17
14.14
220.56
375.5
204.45
171.05
13.3
0.36
241.32
60.44
18.35
320.11
282.06
637
122.18 1,043.35
0
0
18.65
173.4
21.74
115.37

10. Total CL & Provisions
Net Current Assets
Miscellaneous Expenses
Total Assets
Aventis Pharma
Profit & Loss account
Particular
408.74
349.06
0
1,116.62
36.60
409.73
31.26
829.44
0
0
100 1,014.15
40.40
81.78
0
100
288.77
754.58
0
931.8
30.99
80.98
0
100
year
2010 Percent
year
2009
Perc
ent
------------------in Rs. Cr. ------------------
year 2011
Percent
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
1,324.50
31.41
1,293.09
68.36
10.14
102.42
2.42
100
5.28
0.78
1,166.08
24.17
1,141.91
125.42
16.74
102.11 1,048.23
2.11
20.96
100 1,027.27
10.98
49.18
1.46
61.89
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Selling and Admin Expenses
Miscellaneous Expenses
Preoperative Exp Capitalised
Total Expenses
1,371.59
106.07
0
48.66
2.09
13.64
2.52
11.46
3.64
0
82.03
0
18.74
24.03
0.03
23.99
2.40
0
1,284.07
112.44 1,138.34
0
48.78
546.79
1.84
19.5
14.29
143.95
3.19
30.33
11.89
119.03
3.50
28.8
0
0
83.51
888.4
0
17.94
200.76
28.93
249.94
0.25
0.07
28.67
249.87
1.72
17.34
0
0
Income
Operating Profit
PBDIT
Interest
PBDT
Depreciation
Other Written Off
629.29
27.08
176.42
32.68
148.24
47.14
0
1,060.85
242.38
310.74
0.42
310.32
31.15
0
557.08
21.08
163.25
36.45
135.86
39.98
0
953.7
204.95
330.37
2.89
327.48
19.74
0
102.0
4
2.04
100
4.78
6.02
110.8
1
0
53.22
1.89
14.01
2.95
11.58
2.80
0
86.48
0
19.54
24.33
0.004
24.32
1.68
0

11. Profit Before Tax
Extra-ordinary items
PBT (Post Extra-ord Items)
Tax
Reported Net Profit
Total Value Addition
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data (annualised)
Shares in issue (lakhs)
Earning Per Share (Rs)
Equity Dividend (%)
Book Value (Rs)
III.
279.17
4.79
283.96
92.8
191.19
431.56
0
76
11.88
230.31
83.01
330
479.65
21.58
0.37
21.95
7.17
14.78
33.37
0
5.87
0.91
0
17.81
6.41
25.52
37.09
307.74
-10.28
297.46
66.72
230.75
396.61
0
126.67
20.89
26.94
-0.90
26.04
5.84
20.20
34.73
0
11.09
1.82
0
20.16
8.77
48.16
38.07
230.31
100.19
550
434.79
232.53
7.5
240.03
82.59
157.41
341.62
0
46.06
7.83
22.63
0.73
23.36
8.039
15.32
33.25
0
4.48
0.76
0
22.41
6.65
19.46
38.80
230.31
68.35
200
398.67
Ratios analysis :-
Key Financial Ratios
of Aventis Pharma
Dec '11
Investment Valuation
Ratios
Face Value
Dividend Per Share
Key Financial Ratios of
Aventis Pharma
Dec '10
10
33
Dec’11
Dec '09
10
55
Dec”10
Dec '08
10
20
Dec”09
10
16
Dec”08
Profitability Ratios
Operating Profit Margin(%)
Profit Before Interest And
Tax Margin(%)
Gross Profit Margin(%)
Net profit margin(%)
18.74
15.51
17.94
15.5
19.54
17.06
21.54
18.82
16.33
14.04
16.22
19.32
17.85
14.64
19.77
15.33

12. Return On Capital
Employed(%)
Return On Net Worth(%)
Adjusted Return on Net
Worth(%)
Return on Assets Excluding
Revaluations
Return on Assets Including
Revaluations
25.33
23.72
25.12
31.45
17.3
16.89
23.04
16.77
17.14
16.11
20.4
19.94
479.65
434.79
398.67
353.72
484.84
440.35
404.59
360
Key Financial Ratios of Dec”11
Aventis Pharma
Dec”10
Dec”09
Dec’08
Liquidity And Solvency
Ratios
Current Ratio
Quick Ratio
Interest Cover
1.85
1.18
672.69
Key Financial Ratios of Dec’11
Aventis Pharma
3.02
2.37
82.2
Dec’10
3.61
2.71
3,104.31
Dec’09
3.71
2.9
752.5
Dec’08
Management Efficiency
Ratios
Inventory Turnover Ratio
Debtors Turnover Ratio
Investments Turnover Ratio
Fixed Assets Turnover Ratio
Total Assets Turnover Ratio
Asset Turnover Ratio
5.21
19.39
5.21
3.17
2.37
3.17
Key Financial Ratios of Dec’11
Aventis Pharma
4.83
20.18
4.83
3.27
1.17
3.27
Dec’10
4.54
14.44
4.54
3.35
1.15
3.35
Dec’09
6.17
14.03
6.17
3.51
1.31
3.51
Dec’08
Cash Flow Indicator Ratios
Dividend Payout Ratio Net
45.96
63.94
34.23
25.93

13. Profit
Dividend Payout Ratio Cash
Profit
39.52
58.9
30.83
23.37
Trend analysis:-
IV.
Investment Valuation Ratios
Face Value
2011
2010
2009
2008
100%
100%
100%
100%
Dividend Per Share
206.25%
343.75%
125%
100%
400
350
300
250
200
Face Value
150
Dividend Per Share
100
50
0
Dec '11
Dec '10
Dec '09
Dec '08
Interpretation:- Face value are constant but dividend are more changes.
Profitability
Ratios
Operating Profit
Margin(%)
Profit Before
Interest And Tax
Dec '11
Dec '10
Dec '09
Dec '08
87.00093
83.28691
90.71495
100
82.41233
82.35919
90.64825
100

14. Margin(%)
Gross Profit
Margin(%)
Net Profit
Margin(%)
Return On
Capital
Employed(%)
Return On Net
Worth(%)
Adjusted Return
on Net Worth(%)
Return on Assets
Excluding
Revaluations
Return on Assets
Including
Revaluations
82.5999
82.0435
90.28832
100
91.58513
126.0274
95.49902
100
80.54054
75.4213
79.87281
100
84.80392
112.9412
84.01961
100
84.70411
84.10231
80.79238
100
135.6016
122.9193
112.7078
100
134.6778
122.3194
112.3861
100
160
140
120
100
80
60
40
20
0
Dec '11
Dec '10
Dec '09
Dec '08
Interpretation:- return on assets are very high compression to all.
Liquidity And
Solvency Ratios
Dec '11
Dec '10
Dec '09
Dec '08

15. Current Ratio
Quick Ratio
Interest Cover
49.86523
40.68966
89.39402
81.40162
81.72414
10.92359
97.30458
93.44828
412.5329
100
100
100
450
400
350
300
250
Current Ratio
200
Quick Ratio
150
Interest Cover
100
50
0
Dec '11
Dec '10
Dec '09
Dec '08
Interpretation:- The interest cover ratio is big fluctuation in this graph.
Management
Efficiency
Ratios
Inventory
Turnover Ratio
Debtors
Turnover Ratio
Investments
Turnover Ratio
Fixed Assets
Turnover Ratio
Total Assets
Turnover Ratio
Asset Turnover
Ratio
Dec '11
Dec '10
Dec '09
Dec '08
84.44084
78.28201
73.58185
100
138.2038
143.8346
102.9223
100
84.44084
78.28201
73.58185
100
90.31339
93.16239
95.4416
100
180.916
89.31298
87.78626
100
90.31339
93.16239
95.4416
100

16. 200
180
160
140
120
100
80
60
40
20
0
Dec '11
Dec '10
Dec '09
Dec '08
Interpretation:- Total assets turnover ratio is big jump for 2011.
Cash Flow
Indicator Ratios
Dividend Payout
Ratio Net Profit
Dividend Payout
Ratio Cash Profit
Dec '11
Dec '10
Dec '09
Dec '08
177.2464
246.587
132.0093
100
169.1057
252.0325
131.9213
100

17. 300
250
200
150
Dividend Payout Ratio
Net Profit
100
Dividend Payout Ratio
Cash Profit
50
0
Dec '11
Dec '10
Dec '09
Dec '08
Interpretation:- To both are similar but the 2011 is down fall the profit.
The Main Interpretation :- The Aventis Pharma is better condition for 3years ago.
Thank you

19. Year
2011
Year 2010
Year 2009
Year
2008
80
90
100
Revenues
Cost Of Sales
110
120
130
140
Gross Profit