(` Crores)
| Particulars | 2007-08 |
2008-09 |
2009-10 |
2010-11 |
2011-12 |
2012-13 |
2013-14 |
2014-15 |
2015-16 |
| Average Capital Employed | 2,877 |
3,499 |
3,705 |
3,989 |
4,866 |
5,286 |
5,444 |
6,071 |
7,243 |
| Average Debt/Average Capital (%) | 1.1 |
0.6 |
0.2 |
2.2 |
3.4 |
1.8 |
0.4 |
- |
- |
| Average Equity/Average Capital (%) | 98.9 |
99.4 |
99.8 |
97.8 |
96.7 |
98.3 |
99.6 |
100.0 |
100.0 |
| Cost of Debt (% Post Tax) | 0.9 |
1.6 |
1.9 |
1.4 |
1.2 |
1.2 |
5.5 |
- |
- |
| Cost of Equity | |||||||||
| Beta | 0.6 |
0.6 |
0.6 |
0.6 |
0.7 |
0.7 |
0.8 |
0.9 |
1.1 |
| Cost of risk - free debt (%) | 7.9 |
7.0 |
7.5 |
8.0 |
8.5 |
8.0 |
8.8 |
7.7 |
7.5 |
| Market Premium (%) | 10 |
10 |
10 |
10 |
10 |
10 |
10 |
10 |
10 |
| Cost of Equity (%) | 13.8 |
12.9 |
13.8 |
14.4 |
15.2 |
15.2 |
16.4 |
16.5 |
18.8 |
| Economic Value Added (EVA) | |||||||||
| Profit After Tax | 968 |
1,282 |
2,232 |
1,928 |
2,378 |
2,118 |
2,109 |
2,386 |
3,132 |
| Add: Interest*(1-tax rate) | 1.3 |
1.7 |
1.4 |
10.6 |
14.4 |
7.9 |
7.8 |
7.3 |
7.3 |
| NOPAT = PAT + Interest*(1-t) | 969 |
1,283 |
2,233 |
1,938 |
2,393 |
2,126 |
2,117 |
2,393 |
3,140 |
| Cost of Capital | 394 |
448 |
510 |
563 |
715 |
792 |
889 |
1,000 |
1,358 |
| EVA | 575 |
835 |
1,723 |
1,376 |
1,677 |
1,334 |
1,228 |
1,393 |
1,781 |
| Return on Capital Employed (%) | 33.7 |
36.7 |
60.3 |
48.6 |
49.2 |
40.2 |
38.9 |
39.4 |
43.4 |
| Weighted Average Cost of Captat (%) | 13.7 |
12.8 |
13.8 |
14.1 |
14.7 |
15.0 |
16.3 |
16.5 |
18.8 |
| EVA/Capitat Employed (%) | 20.0 |
23.9 |
46.5 |
34.5 |
34.5 |
25.2 |
22.6 |
22.9 |
24.6 |
| Enterprise Value | |||||||||
| Market Capitalisation | 13,869 |
21,390 |
38,827 |
31,739 |
41,041 |
30,792 |
45,425 |
52,714 |
58,823 |
| Add: Debt | 132 |
78 |
66 |
1,491 |
995 |
281 |
- |
- |
- |
| Less: Financial Assets | 2,698 |
3,588 |
5,833 |
5,200 |
4,041 |
3,805 |
4,206 |
3,313 |
4,398 |
| Enterprise Value (EV) | 11,303 |
17,880 |
33,060 |
28,030 |
37,995 |
27,268 |
41,219 |
49,400 |
54,425 |
| EV/Year End Capital Employed (Times) | 3.6 |
4.6 |
9.4 |
6.3 |
7.2 |
5.2 |
7.4 |
7.6 |
6.9 |
