NESTLE INDIA: BALANCE SHEET - COMMON SIZEParameter DEC'14 ( Cr.)₹ DEC'13 ( Cr.)₹ DEC'14 (%) DEC'13 (%)

EQUITY AND LIABILITIES

Share Capital 96.42 96.42 1.66% 1.53%Share Warrants & Outstandings

Total Reserves 2740.79 2272.33 47.10% 35.99%Shareholder's Funds 2837.21 2368.75 48.75% 37.51%Long-Term Borrowings 0 0 0.00% 0.00%Secured Loans 0 0 0.00% 0.00%Unsecured Loans 15.46 1189.48 0.27% 18.84%Deferred Tax Assets / Liabilities 222.72 215.47 3.83% 3.41%Other Long Term Liabilities 0 0 0.00% 0.00%Long Term Trade Payables 0 0 0.00% 0.00%Long Term Provisions 1388.66 1193.39 23.86% 18.90%Total Non-Current Liabilities 1626.84 2598.34 27.95% 41.15%Current Liabilities 0.00% 0.00%Trade Payables 728.71 633.04 12.52% 10.03%Other Current Liabilities 409.57 500.25 7.04% 7.92%Short Term Borrowings 4.11 0.01 0.07% 0.00%Short Term Provisions 213.06 213.88 3.66% 3.39%Total Current Liabilities 1355.45 1347.18 23.29% 21.34%Total Liabilities 5819.5 6314.27 100.00% 100.00%

ASSETS

Non-Current Assets

Gross Block 5008.98 4903.16 86.07% 77.65%Less: Accumulated Depreciation 1824.23 1523.91 31.35% 24.13%Less: Impairment of Assets 8.11 9.94 0.14% 0.16%Net Block 3176.64 3369.31 54.59% 53.36%Lease Adjustment A/c 0 0 0.00% 0.00%Capital Work in Progress 244.78 294.71 4.21% 4.67%Intangible assets under development 0 0 0.00% 0.00%Pre-operative Expenses pending 0 0 0.00% 0.00%Assets in transit 0 0 0.00% 0.00%Non Current Investments 304.46 224.12 5.23% 3.55%Long Term Loans & Advances 129.65 123.46 2.23% 1.96%Other Non Current Assets 0.3 0.95 0.01% 0.02%Total Non-Current Assets 3855.83 4012.55 66.26% 63.55%Current Assets Loans & Advances

Currents Investments 507.36 626.96 8.72% 9.93%Inventories 844.1 735.93 14.50% 11.66%Sundry Debtors 99.1 84.27 1.70% 1.33%Cash and Bank 445.82 749.36 7.66% 11.87%Other Current Assets 19.31 10.06 0.33% 0.16%Short Term Loans and Advances 47.98 95.14 0.82% 1.51%

Total Current Assets 1963.67 2301.72 33.74% 36.45%Net Current Assets (Including Current Investments) 608.22 954.54 10.45% 15.12%Total Current Assets Excluding Current Investments 1456.31 1674.76 25.02% 26.52%Miscellaneous Expenses not written off 0 0 0.00% 0.00%Total Assets 5819.5 6314.27 100.00% 100.00%

Contingent Liabilities 19.54 12.76Total Debt 19.57 1189.49Book Value (in )₹ 294.26 245.67Adjusted Book Value (in )₹ 294.26 245.67

NESTLE INDIA: BALANCE SHEET - COMMON SIZE

NESTLE INDIA: PROFIT & LOSS ACCOUNT - COMMON SIZEParameter DEC'14 (₹ Cr.) DEC'13 (₹ Cr.) DEC'14 (%) DEC'13 (%)

Gross Sales 10,178.07 9,419.02 103.28% 103.49%Less :Inter divisional transfers 0 0 0.00% 0.00%Less: Sales Returns 0 0 0.00% 0.00%Less: Excise 323.23 317.97 3.28% 3.49%Net Sales 9,854.84 9,101.05 100.00% 100.00%EXPENDITURE:Increase/Decrease in Stock -67.43 105.32 -0.86% 1.47%Raw Materials Consumed 3,833.24 3,313.68 49.05% 46.39%Power & Fuel Cost 384.33 385.38 4.92% 5.39%Employee Cost 819.74 741.5 10.49% 10.38%Other Manufacturing Expenses 995.83 929.22 12.74% 13.01%General and Administration Expenses 768.54 678.36 9.83% 9.50%Selling and Distribution Expenses 924.92 832.83 11.84% 11.66%Miscellaneous Expenses 155.76 157.24 1.99% 2.20%Expenses Capitalised 0 0 0.00% 0.00%Total Expenditure 7,814.93 7,143.53 100.00% 100.00%

PBIDT (Excl OI) 2,039.91 1,957.52 172.19% 175.23%Other Income 87.32 83.09 7.37% 7.44%Operating Profit 2,127.23 2,040.61 179.56% 182.67%Interest 14.23 36.51 1.20% 3.27%PBDT 2,113.00 2,004.10 178.36% 179.40%Depreciation 345.65 339.89 29.18% 30.43%Profit Before Taxation & Exceptional Items 1,767.35 1,664.21 149.18% 148.97%Exceptional Income / Expenses 7 13.81 0.59% 1.24%Profit Before Tax 1,774.35 1,678.02 149.77% 150.21%Provision for Tax 589.66 560.89 49.77% 50.21%PAT 1,184.69 1,117.13 100.00% 100.00%

Extraordinary Items 0 0Adj to Profit After Tax 0 0Profit Balance B/F 1,532.88 1,074.55Appropriations 2,717.57 2,191.68Equity Dividend (%) 630 485Earnings Per Share (in ₹) 122.87 115.86Book Value (in ₹) 294.26 245.67

Parameter DEC'14 DEC'13

Operational & Financial Ratios:

122.87 115.8663 48.5

294.26 245.67Performance Ratios:

19.53 19.4745.51 53.6255.76 53.52

Valuation Parameters:51.92 45.7221.68 21.560.99 0.926.24 5.61

Liquidity Ratios:

0 0

KEY FINANCIAL RATIOS

Dec '14 Dec '13

Investment Valuation Ratios

Dividend Per Share 63 48.5

Profitability Ratios

Operating Profit Margin(%) 20.7 21.39

Gross Profit Margin(%) 17.27 17.77

Net Profit Margin(%) 12.02 12.27

Return On Capital Employed(%) 62.66 47.79

Return On Net Worth(%) 41.75 47.16

Liquidity And Solvency Ratios

Current Ratio 0.53 0.65

Quick Ratio 0.25 0.39

Debt Equity Ratio 0.01 0.5

Debt Coverage Ratios

Interest Cover 125.8 46.58

Earnings Per Share (Rs) DPS(Rs)

Book NAV/Share(Rs)

ROA(%) ROE(%) ROCE(%)

PER(x) Price / Book(x) Yield(%) M Cap / Sales

Total Debt / Mcap(x)

Total Debt to Owners Fund 0.01 0.5

Management Efficiency Ratios

Inventory Turnover Ratio 11.67 12.37

Debtors Turnover Ratio 107.49 105.92

Investments Turnover Ratio 11.67 12.37

Fixed Assets Turnover Ratio 1.99 1.88

Total Assets Turnover Ratio 3.45 2.56

Number of Days In Working Capital -43.29 -29.89

Cash Flow Indicator Ratios

Dividend Payout Ratio Net Profit 51.27 41.85

Earnings Per Share 122.87 115.87

Book Value 294.27 245.68