APEX-Human capital index is an analytical tool which analyses the value of human capital and its related aspects based on human capital and financial parameters. Human capital parameters constitute for 2/3rd part of the index while the remaining 1/3rd Weightage is determined by financial parameters. Each parameter is measured on a scale. The range of scale is determined by the criticalness of the ratio to the index. A total of 300 points is the Weightage of the index, (200 from Human Capital and 100 from financial parameters) and the components are clubbed into 7 key parameters. Organizational performance is measured on 300 points and the output points are converted in to rating which ranges from AAA to D, wherein AAA is the highest rating and D is the lowest rating. The APEX-HC Index’s 7 key parameters measurement is based on the composite score of each key parameter and finally a response is assigned to it. The assigned response is the representation of numerical percentage figure to simplify the ranking. Ranks range from “Very Good” to “Very Low”, where Very Good is the top end and Very Low is bottom end rank. In order to carry out the valuation of individual organization, the index needs at least two consecutive years’ human capital and financial data. Each year’s rating and key parameters’ ranking is evaluated and compared to come to the conclusions as in which year performance is better, which part of business need fresh investment and where the organization needs to improve etc., are some of the parameters that are considered.
APEX-Human Capital Index is an analytical tool that measures the value of human capital or talent pool in order to help service sector organizations analyse their talent capabilities and various other critical and at times hidden aspects of human capital.
The objective of APEX-Human Capital Index is to provide a measurable and financially reliable tool for the interpretation of investments in Human Capital to returns on a consistent basis.
In this paper, we used financial statements as the main information to calculate the enterprise
value by discounted cash flow model. For the prediction of future cash flows in DCF model, a new method
based on the Markov chain is proposed to get the growth rates of future cash flows, instead of the fixed growth
rate method. The superior performance of it can be illustrated in empirical analysis. And the result shows that
we can improve the accuracy of the enterprise value evaluation with partial information by using the Markov
chain
Analysis of Accounting-Based Measures of Expected Returns: A Study of Private...AI Publications
The research is going a novel route by investigating whether investors project previous performance into the future in order to come up with their estimates about future stock returns. The way earlier research estimates investors' expectations is to use experiments or surveys to determine those expectations. In contrast, we generate investors' expectations by taking stock prices, the book value of equity, and analyst earnings projections into consideration. The research was conducted in Erbil's SME. The researchers used a quantitative approach to evaluate the impact of Accounting-based will have significant influence on expected returns in SME in Kurdistan region of Iraq. The present thesis was analyzed using a questionnaire. Sample design is the technique or process that the researcher is able to accept in selecting objects for the survey is referred to as sample design. The research sample was chosen using a random sampling method and carried out in various locations in Kurdistan region of Iraq. A total of 175 questionnaires were issued, but only 162 participants completed them correctly. Thus, results are often debated because this metric is not frequently observable, exceptionally difficult to measure, and there is no generally accepted method for estimating its value. We argue that by definition, the standard for measuring a cross-section of future returns will provide statistical "proxies" that on average estimate future market returns across different asset classes. Although much work has been done on this measurement problem, as far as we know, no such approach exists. Nevertheless, it is important to take the findings of this study into consideration, especially given the following limitations. Similarly, we did not obtain subjective evaluations from expert informants as we did not have access to the necessary databases. The finding revealed that the accounting-based strongly predicts expected returns (Beta is weight .701, p.001), implying that accounting-based would have a clear beneficial relationship with expected returns based on this finding the research hypothesis is supported.
APEX-Human Capital Index is an analytical tool that measures the value of human capital or talent pool in order to help service sector organizations analyse their talent capabilities and various other critical and at times hidden aspects of human capital.
The objective of APEX-Human Capital Index is to provide a measurable and financially reliable tool for the interpretation of investments in Human Capital to returns on a consistent basis.
In this paper, we used financial statements as the main information to calculate the enterprise
value by discounted cash flow model. For the prediction of future cash flows in DCF model, a new method
based on the Markov chain is proposed to get the growth rates of future cash flows, instead of the fixed growth
rate method. The superior performance of it can be illustrated in empirical analysis. And the result shows that
we can improve the accuracy of the enterprise value evaluation with partial information by using the Markov
chain
Analysis of Accounting-Based Measures of Expected Returns: A Study of Private...AI Publications
The research is going a novel route by investigating whether investors project previous performance into the future in order to come up with their estimates about future stock returns. The way earlier research estimates investors' expectations is to use experiments or surveys to determine those expectations. In contrast, we generate investors' expectations by taking stock prices, the book value of equity, and analyst earnings projections into consideration. The research was conducted in Erbil's SME. The researchers used a quantitative approach to evaluate the impact of Accounting-based will have significant influence on expected returns in SME in Kurdistan region of Iraq. The present thesis was analyzed using a questionnaire. Sample design is the technique or process that the researcher is able to accept in selecting objects for the survey is referred to as sample design. The research sample was chosen using a random sampling method and carried out in various locations in Kurdistan region of Iraq. A total of 175 questionnaires were issued, but only 162 participants completed them correctly. Thus, results are often debated because this metric is not frequently observable, exceptionally difficult to measure, and there is no generally accepted method for estimating its value. We argue that by definition, the standard for measuring a cross-section of future returns will provide statistical "proxies" that on average estimate future market returns across different asset classes. Although much work has been done on this measurement problem, as far as we know, no such approach exists. Nevertheless, it is important to take the findings of this study into consideration, especially given the following limitations. Similarly, we did not obtain subjective evaluations from expert informants as we did not have access to the necessary databases. The finding revealed that the accounting-based strongly predicts expected returns (Beta is weight .701, p.001), implying that accounting-based would have a clear beneficial relationship with expected returns based on this finding the research hypothesis is supported.
Opportunity for Cost Reduction: An analysis with special reference to Bharti Airtel Nesa. Its a final presentation given on MBA curriculum of Dibrugarh University.
For full project report with Synopsis, you can mail me at partha89.mahanta@gmail.com
Mercer Capital's Value Focus: Medical Technology | Mid-Year 2015Mercer Capital
Mercer Capital's Medical Technology Industry newsletter provides perspective on valuation issues. Each newsletter also includes a macroeconomic trends, public market trends, and comparable public company metrics.
Fundamental Analysis is defined as “researching the fundamentals”, that doesn’t convey the whole in the absence of knowledge about what fundamentals are. The big problem with defining fundamentals is that it can include anything related to the economic well being of a company. Thus, fundamentals include everything from a company’s market share to the quality of its management
Fundamental analysis is the cornerstone of investing. In fact, some would say that you aren't really investing if you aren't performing fundamental analysis. Because the subject is so broad, however, it's tough to know where to start. There are an endless number of investment strategies that are very different from each other, yet almost all use the fundamentals.
Effect of Financial Ratios on Firm Performance Study of Selected Brewery Firm...ijtsrd
The study assessed the effect of financial ratios on performance of Quoted Breweries firms in Nigeria. It made use of ex post facto research design. Data were gotten from secondary sources obtained from NSE fact books and annual reports accounts of the selected Breweries Companies. The population of the study consisted of thirteen 13 quoted Breweries firms listed on the Nigerian Stock Exchange as at 31st December, 2018. Four 4 of the quoted Breweries firms are selected to form the sample of the study for the period of nine 9 years 2010 – 2018 . The relevant data obtained were subjected to statistical analysis using Pearson correlation coefficient and regression analysis. The results of this study revealed that there is a significant relationship between current ratio and firm performance but negative effect. Debt equity ratio has a significant effect on return on asset of Nigerian Breweries. The result of the study concludes that Nigerian breweries companies are relatively using an optimal mix of debt to equity which is evident from the significant positive relationship of debt equity ratio with financial performance of the Nigerian Breweries. The researchers recommended that the management should employ all carefulness while financing with long term debt instruments endeavor to find out the best and optimal combination of long term debt and equity that will impact positively on the value of the firm. Agbata, Amaka Elizabeth | Osingor, Arinze Stanley | Ezeala, George "Effect of Financial Ratios on Firm Performance: Study of Selected Brewery Firms in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd45177.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/45177/effect-of-financial-ratios-on-firm-performance-study-of-selected-brewery-firms-in-nigeria/agbata-amaka-elizabeth
Financial Analysis on Recession Period at M&M TractorsProjects Kart
Financial ANalysis (also stated as financial plan analysis or accounting analysis) refers to an assessment of the viability, stability and profitable of a business, sub-business or project. Visit www.projectskart.com for more information. It is performed by professionals World Health Organization prepare reports exploitation ratios that create use of data taken from monetary statements and different reports. These reports area unit typically given to prime management mutually of their bases in creating business selections.
Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 . Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission
“To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
Vision
Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
Analyzing every customer’s aims, objectives and purpose of research
Using advanced and latest tools and technique of research and analysis
Coordinating and including their own ideas and knowledge
Providing the desired inferences and results of the research
In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
Get your Insider’s Guide to Workforce Analytics. Learn the definitions of key terms, see examples of metrics and analytics, and discover how to measure your company’s workforce analytics maturity. Plus, learn about common approaches to workforce analytics and hear case studies of analytics in action.
Opportunity for Cost Reduction: An analysis with special reference to Bharti Airtel Nesa. Its a final presentation given on MBA curriculum of Dibrugarh University.
For full project report with Synopsis, you can mail me at partha89.mahanta@gmail.com
Mercer Capital's Value Focus: Medical Technology | Mid-Year 2015Mercer Capital
Mercer Capital's Medical Technology Industry newsletter provides perspective on valuation issues. Each newsletter also includes a macroeconomic trends, public market trends, and comparable public company metrics.
Fundamental Analysis is defined as “researching the fundamentals”, that doesn’t convey the whole in the absence of knowledge about what fundamentals are. The big problem with defining fundamentals is that it can include anything related to the economic well being of a company. Thus, fundamentals include everything from a company’s market share to the quality of its management
Fundamental analysis is the cornerstone of investing. In fact, some would say that you aren't really investing if you aren't performing fundamental analysis. Because the subject is so broad, however, it's tough to know where to start. There are an endless number of investment strategies that are very different from each other, yet almost all use the fundamentals.
Effect of Financial Ratios on Firm Performance Study of Selected Brewery Firm...ijtsrd
The study assessed the effect of financial ratios on performance of Quoted Breweries firms in Nigeria. It made use of ex post facto research design. Data were gotten from secondary sources obtained from NSE fact books and annual reports accounts of the selected Breweries Companies. The population of the study consisted of thirteen 13 quoted Breweries firms listed on the Nigerian Stock Exchange as at 31st December, 2018. Four 4 of the quoted Breweries firms are selected to form the sample of the study for the period of nine 9 years 2010 – 2018 . The relevant data obtained were subjected to statistical analysis using Pearson correlation coefficient and regression analysis. The results of this study revealed that there is a significant relationship between current ratio and firm performance but negative effect. Debt equity ratio has a significant effect on return on asset of Nigerian Breweries. The result of the study concludes that Nigerian breweries companies are relatively using an optimal mix of debt to equity which is evident from the significant positive relationship of debt equity ratio with financial performance of the Nigerian Breweries. The researchers recommended that the management should employ all carefulness while financing with long term debt instruments endeavor to find out the best and optimal combination of long term debt and equity that will impact positively on the value of the firm. Agbata, Amaka Elizabeth | Osingor, Arinze Stanley | Ezeala, George "Effect of Financial Ratios on Firm Performance: Study of Selected Brewery Firms in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd45177.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/45177/effect-of-financial-ratios-on-firm-performance-study-of-selected-brewery-firms-in-nigeria/agbata-amaka-elizabeth
Financial Analysis on Recession Period at M&M TractorsProjects Kart
Financial ANalysis (also stated as financial plan analysis or accounting analysis) refers to an assessment of the viability, stability and profitable of a business, sub-business or project. Visit www.projectskart.com for more information. It is performed by professionals World Health Organization prepare reports exploitation ratios that create use of data taken from monetary statements and different reports. These reports area unit typically given to prime management mutually of their bases in creating business selections.
Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 . Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission
“To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
Vision
Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
Analyzing every customer’s aims, objectives and purpose of research
Using advanced and latest tools and technique of research and analysis
Coordinating and including their own ideas and knowledge
Providing the desired inferences and results of the research
In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
Get your Insider’s Guide to Workforce Analytics. Learn the definitions of key terms, see examples of metrics and analytics, and discover how to measure your company’s workforce analytics maturity. Plus, learn about common approaches to workforce analytics and hear case studies of analytics in action.
Vencon Research is a trusted global provider of compensation (salary) benchmarking data to the world’s leading management, IT and strategy consulting firms.
Vencon Research specialises in the niche area of consulting compensation packages with more than 20 years’ worth of data and trend analysis.
In order to make informed decisions about compensation packages in your field, you need the latest data at your fingertips.
We work to a core set of values that are designed entirely around delivery:
Accuracy – Information is HR-based and cross-checked with HR managers.
Detail – Remuneration information is presented for all of the major career sub-levels and remuneration components.
Validity – Vencon uses and presents only the most up-to-date information.
Timeliness – Vencon Research surveys are produced up to twice per annum, but bespoke surveys can be produced on demand at any time.
Ease of use – Reports can be delivered in a variety of formats to suit the specific needs of the client and to facilitate onward briefing.
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Added value – Vencon surveys facilitate a true balanced remuneration position to ensure competitiveness and staff retention without risking wastage in over compensating.
Primary data provider – Vencon Research surveys provide the most comprehensive source of remuneration data for the international consulting environment, fuelled by a ‘virtuous circle’ of increasing participation.
Click on the following link to find out more and donwloand our sample reports: https://venconresearch.com/samplesurveys/
A Study on Ratio Analysis at Accord Puducherryijtsrd
The main aim of the study is to investigate the ratio analysis of ACCORD, Puducherry. The financial decision plays a vital role in improving the growth of any organization. The main goal of the accounting department in the firm is to measuring the performance of the organization to its profitability and also measuring the relationship between the net incomes to equity. The data in the present study is fully based on secondary data and it is collected from the past and present performance of ACCORD Puducherry providing financial assistant to entrepreneur. In order to analyze the financial performance of the organization, the ratio analysis, and trend analysis is used. The result clearly shows that there is high degree of current ratio between the net income and equity, and satisfactory level of trend analysis is high in the present year Pramodh. V | Abinayaselvan. V | Sindhuja. K "A Study on Ratio Analysis at Accord Puducherry" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-6 , October 2019, URL: https://www.ijtsrd.com/papers/ijtsrd29172.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/29172/a-study-on-ratio-analysis-at-accord-puducherry/pramodh-v
My name is highlighted in Blue and thatt the portion I am respo.docxgemaherd
My name is highlighted in Blue and that't the portion I am responsible for.
Directions
You team works for XYZ Company, which has a directional strategy focused on expanding the company through horizontal integration. Your team can determine the official name of the company and industry. The company does a great job keeping close watch on its cash position and consistently maintains a positive cash flow; is very solvent; controls its overhead expenses; has solid marketing and sales, production, and human resources performance metrics, and fosters a culture of strategic thinkers. Historically, your company has expanded through a combination of organic (new startups) and inorganic growth and feels it’s time to consider acquisition opportunities.
The Board is looking to engage in a friendly acquisition of a company that will not only increase its market share, but allow it to penetrate new markets and increase the company’s abilities to meet current and future consumer needs and expectations. Since management’s attitude is to pursue a friendly acquisition as opposed to a hostile takeover, your team may consider looking at conglomerates that have experienced significant growth through inorganic growth (acquisitions) and may now be looking to refocus on their core business and are willing to consider divesting some of its businesses that are within your industry. There could be other companies that are under financial duress and receptive to acquisition offers. Your team is a part of the corporate mergers and acquisition (M&A) department and has been assigned the task of identifying two potential acquisition targets. Since your Board is committed to a strategy of horizontally integration, you will be looking for possible acquisitions from within your industry. You will be performing a preliminary analysis of the companies under consideration, and then ultimately recommend one of the companies move forward for a more in-depth valuation by M&A Department.
Notes:
The target acquisitions should be publicly traded and have the same fiscal year end, preferably December 31st. In addition, your team is encouraged to select a proper name for your company and the industry for which it is aligned.
To successfully complete your preliminary analysis of the target acquisitions, your team should follow this high level process flow:
1. Select Comparable Companies that Satisfy Inclusion Criteria
2. Conduct Qualitative Research on the Companies
3. Conduct Quantitative Analyses of the Companies (financial)
4. Prepare Report of Findings with Recommendation
Select Comparable Companies
Describe the methodology used to select the target acquisitions. You may want to consider utilizing the North American Industry Classification System (NAICS) to identify companies within your industry. Of course, there are a variety of Internet sites that can assist you in locating firms within your chosen industry, such as Google Finance and Yahoo Finance.
Conduct Quali.
HR / Talent Analytics orientation given as a guest lecture at Management Institute for Leadership and Excellence (MILE), Pune. This presentation covers aspects like:
1. Core concepts, terminologies & buzzwords
- Business Intelligence, Analytics
- Big Data, Cloud, SaaS
2. Analytics
- Types, Domains, Tools…
3. HR Analytics
- Why? What is measured?
- How? Predictive possibilities…
4. Case studies
5. HR Analytics org structure & delivery model
Team Project Deliverable and PresentationYou team works for XY.docxerlindaw
Team Project Deliverable and Presentation
You team works for XYZ Company, which has a directional strategy focused on expanding the company through horizontal integration. Your team can determine the official name of the company and industry. The company does a great job keeping close watch on its cash position and consistently maintains a positive cash flow; is very solvent; controls its overhead expenses; has solid marketing and sales, production, and human resources performance metrics, and fosters a culture of strategic thinkers. Historically, your company has expanded through a combination of organic (new startups) and inorganic growth and feels it’s time to consider acquisition opportunities.
The Board is looking to engage in a friendly acquisition of a company that will not only increase its market share, but allow it to penetrate new markets and increase the company’s abilities to meet current and future consumer needs and expectations. Since management’s attitude is to pursue a friendly acquisition as opposed to a hostile takeover, your team may consider looking at conglomerates that have experienced significant growth through inorganic growth (acquisitions) and may now be looking to refocus on their core business and are willing to consider divesting some of its businesses that are within your industry. There could be other companies that are under financial duress and receptive to acquisition offers. Your team is a part of the corporate mergers and acquisition (M&A) department and has been assigned the task of identifying two potential acquisition targets. Since your Board is committed to a strategy of horizontally integration, you will be looking for possible acquisitions from within your industry. You will be performing a preliminary analysis of the companies under consideration, and then ultimately recommend one of the companies move forward for a more in-depth valuation by M&A Department.
Notes: The target acquisitions should be publicly traded and have the same fiscal year end, preferably December 31st. In addition, your team is encouraged to select a proper name for your company and the industry for which it is aligned.
To successfully complete your preliminary analysis of the target acquisitions, your team should follow this high level process flow:
1. Select Comparable Companies that Satisfy Inclusion Criteria
2. Conduct Qualitative Research on the Companies
3. Conduct Quantitative Analyses of the Companies (financial)
4. Prepare Report of Findings with Recommendation
Select Comparable Companies
Describe the methodology used to select the target acquisitions. You may want to consider utilizing the North American Industry Classification System (NAICS) to identify companies within you r industry. Of course, there are a variety of Internet sites that can assist you in locating firms within your chosen industry, such as Google Finance and Yahoo Finance.
Conduct Qualitative Research on the Companies
Provide relevan.
Capturing Business Requirements For Scorecards, Dashboards And ReportsJulian Rains
This paper helps Management Information and Business Intelligence related projects build a solid foundation for their reporting business requirements gathering. It defines the scope of the information needed to design and build dashboards, scorecards and other types of report.
The Supply Chain Index: Evaluating the Industrial Value Network - 18 AUG 2014Lora Cecere
Executive Overview
Supply chain performance matters. It can make or break corporate performance. Now 30-years old, the practice of supply chain management is still evolving. While companies speak of best practices, and boast about improvements in operating margin, inventory levels and asset management in conference after conference, we do not see it in our analysis of balance sheet information for any industry.
By their nature, supply chain leaders are competitive. They want to drive performance improvements and increase corporate value. Their goal is to outpace competitors. The rate of business change is intense and the personal stakes are high. Day after day, leaders must answer questions like, “Which path should I to take? What are the best technologies to use? What is an acceptable rate of performance? How am I doing against my peer group? And, what can I learn from others that I can use to improve the performance of my own operation?” Until the development of the Supply Chain Index by Supply Chain Insights, there was no independent and objective data-driven methodology that could answer these questions. With the development of this methodology, there now is a way to gauge improvement.
While it is easy to say the term supply chain excellence, it is difficult to define. Many people think that they know the definition, but there is no agreed-upon standard. The lack of a clear definition, and a methodology to measure improvement, makes progress hard to quantify and track.
The Supply Chain Index is designed to help. It is an objective measurement of supply chain improvement. It enables the comparison of companies’ progress within a peer group for a given time period. The Index is based upon financial performance of companies on four metrics integral to supply chain operations: Year-over-Year Revenue Growth, Return on Invested Capital, Inventory Turns, and Operating Margin. In building the Supply Chain Index, we had three goals:
1. Quantify Levels of Supply Chain Improvement. The Index is a composite metric based on the calculation of balance, strength and resiliency factors for a given time period. Each factor is measuring the pattern of performance over time. In the analysis, there is an underlying assumption that the companies that can sustain the best improvement in these three areas are driving the highest rates of supply chain improvement. The input metrics of Year-over-Year Revenue Growth, Return on Invested Capital, Inventory Turns, and Operating Margin were selected in part due to their high correlation to market capitalization.
2. Bridge the Gap between Finance and Supply Chain. Our second goal is to bridge the gap between the supply chain organization and the financial team...
Financial ratios are created with the use of numerical values taken from financial statements to gain meaningful information about a company. The numbers found on a company’s financial statements – balance sheet, income statement, and cash flow statement – are used to perform quantitative analysis and assess a company’s liquidity, leverage, growth, margins, profitability, rates of return, valuation, and more.
Modes of Expression of Ratios:
Ratios may be expressed in any one or more of the following ways:
(a) Proportion,
(b) Rate or times
(c) Percentage.
Advantages of Ratio Analysis:
The information shown in financial statements does not signify anything individually because the facts shown are inter-related. Hence it is necessary to establish relationships between various items to reveal significant details and throw light on all notable financial and operational aspects. Ratio analysis caters to the needs of various parties interested in financial statements. The basic objective of ratio analysis is to help management in interpretation of financial statements to enable it to perform the managerial functions efficiently.
Limitations of Ratio Analysis:
Ratios are precious tools in the hands of management but the utility lies in the proper utilisation of ratios. Mishandling or misuse of ratios and using them without proper context may lead the management to a wrong direction. The financial analyst should be well versed in computing ratios and proper utilization of ratios. Like all techniques of control, ratio analysis also suffers from several ‘ifs and buts’ and for proper computation and utilization of ratios the analyst should be aware of the limitations of ratio analysis.
Uses and Users of Financial Ratio Analysis
Analysis of financial ratios serves two main purposes:
1. Track company performance
Determining individual financial ratios per period and tracking the change in their values over time is done to spot trends that may be developing in a company. For example, an increasing debt-to-asset ratio may indicate that a company is overburdened with debt and may eventually be facing default risk.
2. Make comparative judgments regarding company performance
Comparing financial ratios with that of major competitors is done to identify whether a company is performing better or worse than the industry average. For example, comparing the return on assets between companies helps an analyst or investor to determine which company is making the most efficient use of its assets.
Users of financial ratios include parties external and internal to the company:
External users: Financial analysts, retail investors, creditors, competitors, tax authorities, regulatory authorities, and industry observers
Internal users: Management team, employees, and owners
Financial analysis refers to business assessment in terms of stability, viability, profitability, and other important financial and non-financial factors. It is done through several different techniques, ratios, and charts, with the purpose of transforming static numbers from or in financial statements, to an added value for decision-makers. Usually, the analyzed information and the analysis results are presented frequently as a report or as a dashboard.
A dashboard (or data visualization) is used to present all indicators at once to help owners, investors, or managers make efficient decisions by identifying specific actions that should be taken to reach future targets or goals.
Detailed economic, industrial and company analysis is conducted here to measure performance of banking industry with special reference to public sector banks by Fundamental Analysis.
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Apex Human Capital Index Report- IT industry
1. APEX-The Aventus Partners Human
Capital Index Industry Report
Industry – Information technology
Aventus Partners, 2012
2. APEX-Human Capital Index Industry Report
Table of
Contents
Preface ........................................................................................................................................ 3
APEX-The Aventus Partners Human Capital Index ......................................................................... 4
Introduction.......................................................................................................................................... 4
Concept ............................................................................................................................................... 4
Industry ....................................................................................................................................... 5
Overview ............................................................................................................................................. 5
Current Scenario ................................................................................................................................. 5
Key Highlights during FY2012 ............................................................................................................ 5
Human Capital Measures ............................................................................................................. 6
Revenue Per employee…..……………………………..……………………………………….......6
Profit Per Employee….………………………………………………………………………………..7
Human Capital Return on Investment……………………………………………………………….8
Human Capital Turnover……………..……………………………………………………………….9
Human Capital Value Added………………………………………………………………………..10
Top 5 Companies ....................................................................................................................... 11
Aventus Partners ....................................................................................................................... 14
About Aventus Partners .................................................................................................................... 14
Services............................................................................................................................................. 14
Reach us .................................................................................................................................... 16
Offices ....................................................................................................................................... 16
Page | 2 Aventus Partners, 2012
3. APEX-Human Capital Index Industry Report
Preface
APEX-Human capital index is an analytical tool which analyses the value of human capital and its
related aspects based on human capital and financial parameters. Human capital parameters
constitute for 2/3rd part of the index while the remaining 1/3rd Weightage is determined by financial
parameters. Each parameter is measured on a scale. The range of scale is determined by the
criticalness of the ratio to the index. A total of 300 points is the Weightage of the index, (200 from
Human Capital and 100 from financial parameters) and the components are clubbed into 7 key
parameters. Organizational performance is measured on 300 points and the output points are
converted in to rating which ranges from AAA to D, wherein AAA is the highest rating and D is the
lowest rating. The APEX-HC Index’s 7 key parameters measurement is based on the composite score
of each key parameter and finally a response is assigned to it. The assigned response is the
representation of numerical percentage figure to simplify the ranking. Ranks range from “Very Good”
to “Very Low”, where Very Good is the top end and Very Low is bottom end rank. In order to carry
out the valuation of individual organization, the index needs at least two consecutive years’ human
capital and financial data. Each year’s rating and key parameters’ ranking is evaluated and compared
to come to the conclusions as in which year performance is better, which part of business need fresh
investment and where the organization needs to improve etc., are some of the parameters that are
considered.
APEX-HC index helps organizations –
to compare performance of itself and its competitors
to find the areas of best performance, average performance and areas where they need
improvement based on the APEX-HC’s analytics
to analyze the productivity, profitability and value addition by human capital pool in a specific
financial year
market price valuation of the organization
to analyze Human capital utilization
to measure the effect of human capital utilization on market price of stock
making decisions related to manpower requirement from top to bottom
making decisions related to investment in human capital
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4. APEX-Human Capital Index Industry Report
APEX-The Aventus Partners Human Capital Index
Introduction
APEX-The Aventus Partners Human Capital Index is an analytical tool that measures the value of
human capital or talent pool in order to help service sector organizations analyze their talent
capabilities and various other critical and at times hidden aspects of human capital. The tool can be
useful to the following groups of professionals:
Business Leaders in the services domain to understand the performance of their Human
Capital from the business indicators
HR Professionals to understand which areas of the Human Resources function need to be
augmented/redesigned/better utilized
Banks and Financial Institutions, so as to understand how Human Capital contributes to the
financial performance of Services organizations and thereby arrive at some lending
mechanisms to these sectors
Private Equity players, to arrive at an optimum price discovery mechanism on their
investment strategies in the services domain
High Net Worth and Retail investors, to discover a new asset class with potential for
performance and discover new strategies of investment
Concept
APEX-The Aventus Partners Human Capital Index consists of a set of human capital ratios and
financial ratios. Human Capital ratios derived from the Balance Sheet, Profit and Loss Account and
the audited and published Annual Report consist for 2/3rd part of the index weightages while
financial ratios make 1/3rd part of the total index.
Data for ratio calculation are taken from annual reports (Balance sheet, Profit and loss account, Cash
flow statement and their schedules) of companies in service sector. Each ratio is calculated in
percentage value and measured on a scale. The range of a scale is based on the importance of ratio
to index, which is why rating points on the scale varies from ratio to ratio. Range of a scale varies
from negative points to positive points being assigned, for instance if the scale is 9 for a ratio then
the ratio will be measured on the scale from -9 to +9 points based on the value of the ratio. If the
value of a ratio is negative, the rating will be measured on negative side and if ratio value is positive,
rating will be on positive. The sum of all the ratios scale is 300 points.
APEX-Human Capital Index is measured for 300 scale points in rating pattern from AAA to D where
AAA is the highest rating while D is the lowest rating. There are 7 key parameters that collectively
make the index namely - Work environment, Organization pyramid dimensions, Skill induction and
development, Remuneration, Retention, Human Capital contribution to business and financial
performance. These 7 key parameters are measured on weighted rating system which varies from
“Very Good” to “Very Low” based on the score of each parameter. These 7 key parameters and the
final index ranking make the output part of the index. To measure an organizations’ human capital
value, we require at least two years’ sequential data of a particular organization. To compare an
organization with other of same industry we need the same year’s data for both.
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5. APEX-Human Capital Index Industry Report
Industry
Overview
The Indian IT industry has witnessed a strong recovery over last few quarters after facing a bleak
outlook following the onset of global economic slowdown in the last quarter of 2008. The industry
faced a difficult year but started moving towards recovery by second half of the FY10 and operating
atmosphere for the industry has continuously improved since then. The recovery which started with
pent up demand and cost cutting initiatives by large MNCs is now progressing as major companies
across the world started hiking IT budgets gradually.
However, there are some headwinds for the industry. Glitches in the global recovery continue to
remain even as demand for IT services has been increasing. A bigger threat for the industry has been
coming from home turf where the industry is facing surge in costs. There is a lot of upward pressure
on wages amidst a rapidly recovering Indian economy and high inflation. Rupee volatility has been
another problem that IT industry is facing, though we believe companies, in particular the large one,
have learned to counter this challenge to some extent. However, any sharp increase in rupee form
current levels coupled with wage inflation can impact margins.
Current Scenario
After recording nearly a decade of strong growth the, Indian IT industry posted the lowest growth it
has seen in the post-deregulated era in the fiscal year 2009-10. According to the estimates prepared
by the industry body NASSCOM, the sector had grown by around 6% in FY10. However, even though
the growth was much slower compared with historical performance, the industry has certainly put
the worst behind it. The recovery has become much more visible and broad-based in FY11 with
growth increasing significantly.
The Indian IT industry today stands at an inflection point in its evolution. It is one of the biggest
contributors to the Indian GDP in the last decade. The industry, which was almost at nascent stage till
late 1980s, grew at tremendous pace after early 1990s and exports have grown by 100 times over the
last 15 years.
Key Highlights during FY2012
IT services exports is the fastest growing segment, growing by 19 per cent in FY2012, to
account for exports of USD 40 billion
Considerable traction in traditional segments – custom application development, application
management, IS outsourcing and software testing
Industry re-tooling itself to adjust to rapid change in customer priorities – from SLAs to
increased time-to-market
Emerging technologies – cloud computing, mobility, social media and big data/analytics
unleashing new opportunities for the industry
IT services is the fastest growing segment in the Indian domestic market, growing by 18 per
cent to reach Rs 589 billion, driven by increasing focus by service providers
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6. APEX-Human Capital Index Industry Report
Human Capital Measures
1. Revenue Per Employee (RPE) – RPE is a productivity ratio which measures individual’s
contribution to the total revenue. Significance of this measure is to get an insight of the overall
performance of human capital pool based on the revenue generated in a financial year. Higher
value of this measure indicates better productive human capital pool.
Figure 1 - Revenue per employee
Revenue per employee is a critical measure for any company in order to measure the employee
productivity. Relatively high revenue per employee is a positive sign that suggests the company is
finding ways to squeeze more sales (revenue) out of each of its employees. Effectiveness of human
resource policies and practices, workforce quality and age of the company affects revenue per
employee figure. From the above chart one can infer that Infosys’ human capital pool is more
productive than others. HCL is only company with continuous Y-o-Y growth during last 6 years which
recorded a growth of more than 55% in revenue per employee figure compared to year 2006
revenue.
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7. APEX-Human Capital Index Industry Report
2. Profit Per Employee – This is a profitability ratio which measures individual’s contribution to
the profit. Significance of this ratio is to measure the overall performance of human capital pool
based on the profit earned in a financial year. Higher value of this ratio indicates more profitable
human capital pool.
Figure 2 - Profit per Employee
Profit per employee is a profitability ratio measure which measures contribution to the total profit by
each employee. Relatively higher value is a positive sign of management’s capability to manage
human capital effectively and controlling cost in efficient manner. From the above profit per
employee line graph it is clear that Infosys’ human capital pool is more efficient than others. Value of
the ratio is almost constant over the years for each company.
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8. APEX-Human Capital Index Industry Report
3. Human Capital Return on Investment – This measures the return on investment made on
human capital as salary, incentive, bonus, land, building and other related costs. Human capital
return on investment is the key mark in service sector to measure the value of any organization
because of very less amount of fixed assets son balance sheet.
Figure 3 - Human Capital Return on Investment
It directly shows the amount of profit earned for every rupee invested in human capital – in effect
the leverage on human capital cost. Tata consultancy services and Infosys are high on human capital
return. During the last 6 years period Infosys is maintaining human capital return on investment ratio
value over and above 0.5, whereas TCS maintained it above 0.4. This value can be interpreted as if
one had invested one rupee on human capital he would have earned 50 paisa and 40 paisa
respectively as profit on it.
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9. APEX-Human Capital Index Industry Report
4. Human Capital Turnover - this ratio measures efficiency of human capital in terms of
generating sales or revenue as turnover on investment made on human capital in the form of
salary, incentive, bonus, land, building and other related costs.
Figure 4 - Human Capital Turnover
It directly shows the amount of revenue generated for every rupee invested in human capital. Tata
Consultancy Services and HCL are high on human capital turnover. Major change can be seen on TCS
as a sharp drop from year 2006 to 2007. As far as Infosys is concerned, it is looking under pressure
because of relatively high human capital cost which affected turnover ratio. From this ratio we can
conclude that higher the human capital cost, lower the human capital turnover ratio.
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10. APEX-Human Capital Index Industry Report
5. Human Capital Value Added – this ratio measures the value which has been added to the
organization by each employee or in other words it is the measurement of effectiveness of
employees. The value addition is measured in monetary terms as profit earned by the company
on account of each employee. This ratio is helpful in analyzing the effect of net employee
addition on earnings by comparing previous periods profit data. Here EBIT figure is used to
calculate the ratio.
Figure 5 - Human capital value addition
Value addition playes an critical role in decision making for an organization when manpower
requiremnt and hiring related decisions has to be taken. Effect of net employee addition on earnings
of an organzation can easily be measured by comparing ratio values of previous period to current
period. Infosys and HCL are following same pattern but growth percentage is high in HCL while
infosys is at the top in this ratio category. From the above chart we can infer that employees of
infosys are adding more value than other.
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11. APEX-Human Capital Index Industry Report
Top 5 Companies
1. Infosys
2. Tata Consultancy Services
3. HCL Technologies
4. NIIT Technologies
5. Sasken Communication Technologies
Infosys
2006 2007 2008 2009 2010 2011
Market Price 2981.40 2307.48 1700.17 1436.78 2262.20 3241.30
Rating Point 210.1 212.4 215.2 216.2 207.6 183
Infosys is a well-known brand in Indian
IT industry so is its stock in Indian stock
market. It is at the pole position in
APEX-Human Capital Index of IT
industry on the basis of rating points. To
carry out the human capital valuation of
Infosys based on its most prominent
assets “Employees” we have factored in
the last 6 years data. The graph of
Infosys Technologies’ is plotted
depicting the market price and rating
points. Rating points are taken from
Apex-Human Capital Index which shows
the overall performance of Infosys with
respect to human capital and financial
investments. High value of rating points
means higher utilization of its core asset; Human Capital, effective human resource polices &
processes, controlled cost and capable management. The effect of higher utilization of its intangible
assets can be seen on its market price as the value of intangible assets increases market price goes up
and vice-versa. The gap between market price line and rating point line can be interpreted as the
reflection of intangible value of human capital as perceived by the stock market. What one can
perceive it that there has been no significant improvement in Human Capital investments and output
over the years, and the markets tend to be favouring the brand rather than the underlying
performance.
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12. APEX-Human Capital Index Industry Report
Tata Consultancy Services
2006 2007 2008 2009 2010 2011
Market Price 1915.50 1438.35 998.82 676.63 749.44 1183.90
Rating Points 191.1 166.9 171.4 166.7 181.2 170.6
The effect of Human capital
practices and value of
investments in human capital can
be seen through market price
trends. As the market price line
comes down intangible assets
(human capital) values decrease
and when it goes up intangible
assets value increases. A market
price line (in blue) above human
capital rating line (in red) shows
the quality of investment. In year
2009 value of human capital and
its other aspect is lowest in last 6
years, its mainly because of
relatively lower growth in
revenue.
HCL Technologies
2006 2007 2008 2009 2010 2011
Market Price 502.11 391.44 292.92 217.87 320.80 493.46
Rating Point 200.3 194 178.5 181.9 182.6 161.3
HCL’s market price follows trends
similar to Infosys and TCS. From year
2006 to 2009 market price dropped
and started increasing subsequently.
Markets tend to take a dull view if the
economic situation is adverse. In such
a time, the measure of the Human
Capital is the best way to gauge the
stability of Human Capital and an
organization’s continued investment
in it, even in adverse market
circumstances. In the year 2009
market price is lowest in 6 years hence
human capital value is lowest in this
year.
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13. APEX-Human Capital Index Industry Report
NIIT Technologies
2006 2007 2008 2009 2010 2011
Market Price 228.55 376.01 184.13 92.20 146.48 184.50
Rating Point 171.8 184.8 181.5 177.8 184.2 184.9
NIIT technologies’ line graph
is showing that both the
lines are almost straight and
overlapping. This is the case
where companies should
start thinking about their
employees and start making
good investment in human
capital, better services mixes
and push for more profitable
opportunities. There are
several reasons which are
responsible for very low
human capital value namely
less productive and
profitable human capital,
less effective human
resource policies and less
efficient management etc.
Sasken Communication Technologies
2006 2007 2008 2009 2010 2011
Market Price 342.75 445.69 205.18 102.22 150.82 157.50
Rating Point 174.8 179.8 171.6 154 188.5 199.2
In this case, the organization should
strongly focus on their human capital
and start making good investment in
human capital. There are several
reasons which are responsible for very
low human capital value namely less
productive and profitable human
capital pool, less effective human
resource policies and less efficient
management etc. Each needs to be
carefully evaluated, the product mix
should be analyzed closely and the
services that the organization bids for
should be scaled up in terms of value,
since there doesn’t seem to be
significant depletion in Human Capital,
what comes across is that the
organization is pitching for a lower
order or projects with reduced profitability and recovery.
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14. APEX-Human Capital Index Industry Report
Aventus Partners
About Aventus Partners
They say your beliefs dictate your deeds. We believe that to meet the unique talent needs of any
business one has to venture out of the box. We decided to put our beliefs to practice, and resultantly,
in 2007 Aventus Partners was born. We bring to the table over thirty years of experience in Talent
Acquisition, Talent Assessment, Talent Development and an in-depth knowledge of businesses across
industry spectra. At Aventus Partners the real edge that we put at our client's disposal is our belief in
a culture of out of the box thinking.
Services
The true competitive differentiator for any organization is its human capital. At Aventus Partners, we
believe in looking beyond the obvious to find innovative solutions for your organization’s talent
needs. Our skilled team understands your organization’s unique value proposition and business goals
to offer you customized solutions for attracting, nurturing and retaining business leaders who will
take your organization to the next level.
We offer bespoke solutions in following areas:
Leadership Talent Acquisition
Talent Assessment and Development
Talent Management
Leadership Talent Acquisition
As every organization evolves, it discovers its unique value proposition, and learns to enjoy playing to
the skills advantages it possesses. We at Aventus Partners understand our core skill and areas where
we have enthusiastically contributed to building large business capabilities for our clients and deep
Knowledge Practices for ourselves. Our Knowledge Practices in Leadership Talent Acquisition:
I. Private Equity Practice
II. Emerging Businesses Practice
III. CXO Practice
IV. Emerging Technologies Practice
V. Consulting Practice
I. Private Equity Practice
Aventus Partners has worked with PE funds for identifying Principals in the Investment
Management, deal sourcing and operations side, as well as in identifying critical senior
management talent for investee companies. We understand the challenges of managing
complexities of business while scaling them up to reach a predefined escape velocity at the time
of strategic exit. The talent identified by us has worked successfully with the Private Equity funds
and there investee companies in managing business cycle from investment to exit.
II. Emerging Businesses Practice
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15. APEX-Human Capital Index Industry Report
Aventus Partners has proven credential and deep expertise in working with emerging businesses.
The team at Aventus Partners has been engaged with developing organizations over the last 15
years and understands the changing skill requirements at different stages of organizations’
evolution.
The challenge in working with emerging business is that it has less precedence. The same
challenge extends to the availability of skill or talent for them. What emerging businesses need
most is out of the box thinking and solutions to provide them with access to talent and services
that are within reach and in line with global performance frameworks. At Aventus Partners we
believe that the size of the business should not restrict the quality of talent pool available to the
organization.
III. CXO Practice
All organizations irrespective of size realize the importance of critical leadership pipeline and the
capabilities that they bring in to make their businesses successful. There is a tremendous
opportunity to induct leadership talent at the CXO levels for each organization. Aventus Partners’
CXO practice is geared to service the needs of organizations seeking to prepare themselves for
the next stage of growth.
IV. Emerging Technologies Practice
Aventus Partners has worked with organisations across the spectrum, ranging from wind power,
solar power, mobile technologies, oil & gas, geothermal energy, storage media, mining and
minerals, semiconductors to supercritical thermal energy generators over the years. Aventus
Partners has successful track record in identifying and bringing on board niche talent for client
organizations.
V. Consulting Practice
Aventus Partners has engaged with tier 1 management and strategy consulting firms, private
equity firms and MNC boutique consulting firms to help them identify talent at the level of
Partners and Principals. The individual and collective experience gained during our professional
careers with Big Four Consulting organization gives us an edge and higher appreciation of
Consulting as an industry and its skill requirements. We have deep understanding of consulting
domains, industry verticals and functional expertise. We also understand thoroughly the
competencies required to excel in the Consulting environment.
Talent Management
As professionals in the talent management domain we have been using our collective and individual
capabilities to enable our clients meet their unique talent challenges, challenges for which there have
been no real precedent to look for within their organisation or outside in their specific industry.
We partner with our clients in addressing these challenges putting in our deep expertise and
experience. We are glad to partner organizations of any emerging businesses and provide them with
the necessary expertise to enable them meet their needs. We help ideate solutions, sell it to key
stake holders and also partner in execution as per the demands of the context.
Page | 15 Aventus Partners, 2012
16. APEX-Human Capital Index Industry Report
Reach us
M P Sriram, Partner Tania Gooptu, Partner Venkat Iyer, Partner
sriram@aventus.in tania.gooptu@aventus.in venkat.iyer@aventus.in
+919895345133 +919810215872 +919810608607
Offices
Aventus Human Capital LLP Aventus Human Capital LLP Aventus Human Capital LLP
40/48, Ground Floor, Pocket 919, 2nd Stage, Varthur Main Personal Chamber, Natham’s
40 EPDP Road, CR Park, New Road, Tubrahalli, Bangalore- 560 House, Chittoor Road, Cochin-
Delhi-110019 Phone +91 11 066 Phone +91 80 3253 7215, 682035 Phone: +91 484
40561242-45 Fax +91 11 +91 80 2854 3089 3248780
40561241
www.aventus.in
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