Name of the Company

CMP (Rs)
No. of outstanE ing Shares (crore)
Market Cap.(Rs Crore)
7
([Link])

P&L(Rs. Crore) (March EnE ing)

Operating Revenue
less Excise Duty
Net Revenues
YoY Growth %

Cost of materials consumed

Changes in inventories of finished goods and work-in-progress
less COGS

Gross Profit
GP Margin %
YOY growth %

Employee Benefit Expenses

Other Expenses

EBITDA
EBITDA Margin %
YOY growth %

(-) less Depriciation & Amortization

EBIT
EBIT Margin %
YOY growth %

Interest Cost
Other Income
Exceptional Items

PBT
Income Tax- Current
Income Tax- Deferred
Total Income Tax
ETR
Reported PAT
PAT Margin %
EPS(Rs.)

Business PAT
Business EPS(Rs.)

Core Earnings
Core EPS(Rs.)

Dividend (incl. DDT)

BALANCE SHEET
Assets
Net Fixed Assets
Property Plant and Equipment
Right of Use Asset
Capital WIP
Financial Assets
Non Current Tax Assets
Other non Current Assets
Total Fixed Assets

Deferred Tax Assets

Inventories
Trade Receivables
Loans & Advances (incl. all adjusted values)
Other Current Assets
Other financial assets
Bank Balance Other than Cash and Cash Equivalent
Assets Held for Sale
Total Current Assets

Trade Payables
Provisions
Other Current Liablities (incl. all adjustments)
lease liabilities
Other financial liabilities
Current Tax Liabilties
Employee Benefit Expenditure
Unearned Revenue
Total Current Liabilities
Working Capital

Cash & Cash Equivalents

Total Assets
Liabilities

Share Capital
Reserves & surplus
Shareholders Equity

Short Term Debt

Long Term Debt
Lease Liabilites
Total Debt
Other financial liabilities
Employee Benefit Expenditure
Current
Non-Current
Total Employee Benefit Expenditure
Net Deferred Tax Liabilities
Provision

Total Liabilities

Check

CASH FLOWS

PBT
Depreciation
Other Income
Finance Cost
Others
Operating Profit Before WC changes
(consumption)/releases of WC
Cash Generated from operations
Taxes Paid
Net CFO

Payments for Property, Plant and Equipments

(Investment in) / proceeds of Bank balances not held as cash
Sales/(purchase) of Investments
Interest income on deposits
Net Cash Flow from Investing Activities

Proceeds/ (repayment) of current borrowing

Principal Payment of lease liability
Proceeds/ (repayment) of Non-current borrowing
Issue of Equity
Payment of dividends (includes dividend distribution tax)
Interest Paid
Net Cash from Financing Activities

Net Change In Cash

Cash at the Start of the Year (Op. Bal.)

Cash at the End of the Year (Cl. Bal.)

FCFF (Free Cash Flow to the Firm)

COGS / net sales (%)

Other expenses / net sales (%)

OPM (%)
EBITM (%)
EBDTM (%)
PBTM (%)
PATM (%)

Capital Employed (Long Term Borrowing + Total Equity)

RoE (%)
Pre-tax RoCE (%) As per the Company
Pre-tax RoCE (%) As per the calculation
Post-tax RoCE (%) As per the calculation

Pre-tax RoIC (%)

Post-tax RoIC (%)

EPS (Rs.)
Core EPS (Rs.)
DPS (Rs.)
BVPS (Rs.)
Cash per share (Rs.)

P/E (x)
Core P/E (x)
EV/EBITDA (x)
P/BV (x)
Dividend yield (%)

Inventory days
Receivable days
Payable days
WC cycle

other income/Avg. Liquid Investments

Total asset turnover

Working Capital Turnover
Financial Leverage

ROA
D/E
 #VALUE! Source: Annual Reports - StanE alo
#NAME? Blue - Input Values
#NAME? Black - CalculateE Values
#NAME? Green - Comments
Yellow Fill - Assumptions
Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26

1,631.48 2,179.02 2,372.27 2,585.78 3,114.25 3,941.86

- - - - - -
1,631.5 2,179.0 2,372.3 2,585.8 3,114.2 3,941.9
34% 9% 9% 20% 27%

-953.18 -1,423.60 -1,784.98

-10.88 39.46 8.61
-964.1 -1,384.1 -1,776.4 -1832.81 -2082.82 -2478.65

667.4 794.9 595.9 752.97 1,031.43 1,463.21

40.91% 36.48% 25.12% 29.12% 33.12% 37.12%
-21% 19% -25% 26% 37% 42%

-70.81 -74.37 -72.23

-182.93 -246 -248

413.7 474.6 275.21 310.29 373.71 473.02

25% 22% 12% 12% 12% 12%
535% 15% -42% 13% 20% 27%

-36.03 -37.63 -38.02 -52.66 -59.37 -59.35

377.66 436.93 237.20 257.63 314.34 413.68

23.15% 20.05% 10.00% 9.96% 10.09% 10.49%
16% -46% 9% 22% 32%

-14.64 -8.23 -5.33 -19.36 -20.51 -14.72

13.05 13.88 15.10 15.10 15.10 15.10
0.00 0.00 0.00 0.00 0.00 0.00

376.07 442.58 246.97 253.37 308.93 414.05

-95.86 -120.03 -64 -66 -80 -107

-25.49% -27.12% -25.90% -25.9% -25.9% -25.9%
280.22 322.54 183.01 187.8 228.9 306.8
17.18% 14.80% 7.71% 7.26% 7.35% 7.78%
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

280.22 322.54 183.01 187.76 228.93 306.83

#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

270.49 312.43 171.83 176.57 217.74 295.64

#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

0.00 - - -

328 306 290 509 560 611

41 37 19 19 11 2
30 7 12 163 163 163
5.5 5 5 0 0 0
- 3 2 0 0 0
5 14 13 5 13 13
409 372 341 697 747 789

290 341 346 377 454 574

306 307 319 347 418 530
0 0 0 0 0 0
63 31 12 12 12 12
1 0 0 0 0 0
103 13 142 82 55 120
2 2 0 0 0 0
765 694 819 819 939 1236

5 238 310 338 408 516

- 1 1 1 1 1
6 24 14 65 77 57
225 7 8 11 8 7
60 20 147 147 147 147
6 0 0 60 45 20
0 0 0 0
1 0 0 0 0
302 291 480 622 686 747
593.24 421.17 218.41 250.26 329.08 452.51

139 166 103 367 506 348

1313 1232 1263 1882 2192 2373

 18 18 18 18 18 18
871 839 697 885 1,114 1,421
889 856 715 903 1,131 1,438

0 0 121 94 22
33 10 10 91 166 52
40 35 17 6.29 4.95 3.88
33 10 10 212 260 74
2 3 0 0 0 0

2 0 0 0 0 0
4 0 0 0 0 0
6 0 0 0 0 0
10 14 13 59 59 59
30 23 28 80 50 50

1313 1232 1263 1882 2192 2373

0 0 0 0 0 0

376.07 442.58 246.97 253.37 308.93 414.05

36.03 37.63 38.02 52.66 59.37 59.35
-8.3 -13.88 -15.10 -15.10 -15.10 -15.10
11.92 8.23 5.33 19.36 20.51 14.72
0.19 29.69 4.24 0.00 0.00 0.00
416 504 279 310.29 373.71 473.02
-64 -22 57 -32 -79 -123
352 482 336 278.45 294.89 349.59
-70 -125 -66 -65.6 -80.0 -107.2
281.54 356.42 270.15 212.84 214.89 242.36

-12 -14 -11.85 -163 -163 -163

0 89 -129 -60.00 -27.41 65.00
0.00 0.00 0.00
3 8 6 15.10 15.10 15.10
-9 83 -136 -208 -175 -82

-82 -19 202.13 48.42 (186.25)

 -5 -7 -8 (5.21) (4.11) (3.22)
-35 -25 81.69 75.00 (114.00)
0 0 0.00 0.00 0.00
-15 -354 -185 0.00 0.00 0.00
0 -7 -5 -19.36 -20.51 -14.72
-137 -412 -198 259.24 98.81 -318.20

136 27 -63 264.18 138.88 (158.24)

3 139 166 103 367 506

139 166 103 367 506 348

270 342.40 258.30 49.84 52.39 79.86

59.09% 63.52% 74.88% 70.88% 66.88% 62.88%

11.21% 11.29% 10.47% 0.00% 0.00% 0.00%

25.36% 21.78% 11.60% 12.00% 12.00% 12.00%

23.15% 20.05% 10.00% 9.96% 10.09% 10.49%
25% 22% 12% 12% 12% 12%
23.05% 20.31% 10.41% 9.80% 9.92% 10.50%
17.18% 14.80% 7.71% 7.26% 7.35% 7.78%

921.971 865.96 724.366 1,000.11 1,302.69 1,494.46

-1.60% 36.96% 23.30% 23.22% 22.51% 23.88%
47% 49% 30% 30% 27% 30%
47% 49% 30% 28% 25% 28%
39% 35% 22% 21% 19% 21%

49.57% 55.90% 40.12% 30.27% 27.34% 30.58%

15.26% 42.22% 31.69% 31.73% 25.82% 28.13%

#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
-10.00 -192.00 -185.00 0.00 0.00 0.00
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

53.17 53.17 53.17

49.03 49.03 49.03
 47.76 47.76 47.76
37.33 43.33 52.33

24.18% 18.51% 18.51% 29.11% 22.51%

1.50 1.82 1.58 1.40 1.55

3.76 7.12 10.58 9.84 9.03
1.46 1.59 1.95 2.00 1.78

25% 15% 12% 11% 13%

0.01 0.01 0.26 0.26 0.06
rce: Annual Reports - StanE alone Financial Statements
e - Input Values
k - CalculateE Values
en - Comments
ow Fill - Assumptions
CAGR (%) 2021 - 2023 Comments**

21%

36%

-6%

We have taken Employee Benefit Expenses + Other Expenses

-18%

-21%

-19%

-19%
#NAME?

#NAME?
 (Rs. Crore) Mar-21 Mar-22

Capacity (T) 108000 108000

Volumes (T) 75600 75600
YoY Growth %
Utilization 70.00% 70.00%

Net Revenue 1,631 2,179

COGS -964 -1,384
% of sales -64%
Gross Profit 667 795
% of sales 36%
Other Expenses -183 -246
% of sales 11.21% 11.29%
Employee Benefit Expenses -70.81 -74.37
% of sales -4% -3%
Operating Expenses
EBITDA 414 475
Margin (%) 25% 22%

Per unit analysis (Rs.)

Realization per Tonne 215.80 288.23
YoY Growth % 33.56%

COGS per Tonne -127.52 -183.09

YoY Growth % 43.57%

Gross Profit per Tonne 88.28 105.14

Other Expenses per Tonne -24.20 -32.53

Employee Benefit Expenses per Tonne -9.37 -9.84

EBITDA per Tonne 54.72 62.77

Fixed Asset Schedule

Gross opening Fixed Assets 437 471
(+) Additions 44 8
(-) Deductions -10 -2
Gross Closing Fixed Assets 471 476
Less: Accumulated Dep -143 -169
Net Fixed Assets 328 306
Capital WIP 30 7
- opening CWIP
- transfer to assets
- Capex 12 14
Depreciation Exp (36) (38)
Depreciation Rate (%) 7% 8%

Debt Schedule
ST Debt
LT Debt
Total Debt

Change in ST Debt
Change in LT Debt
Total Change in Debt

Finance Cost
Interest Rate (%)

Equity Schedule
No. of Outstanding Shares 1.76 1.85
FV per share 10.00 10.00
Share Capital 18 18

QIP / Issue Amount - -

No. of New Shares Issued - -
Issue Price per Share - -
Share Capital Amount - -
Share Premium Amount Rcvd. - -

Buyback Total Amount - -

No. of Shares Bought Back - -
Buyback Price per Share - -
Share Capital Amount - -
Share Premium Amount Paid - -

Dividend Schedule
Total Dividend Cash Outflow -18 -355

Dividend Payout (%) -6.28% -110.13%

Dividend Per Share ₹ -10.00 ₹ -192.00

Working Capital Ratios

Current Assets
Inventories - Days Sales 64.86 57.18
Trade Receivables - Days Sales 68.45 51.35

Current Liabilities
Trade Payables - Days Sales 1.09 39.84
Provisions - Days Sales - 0.21
Short Term Debt - Days Sales - -

Net WC Cycle - Days Sales 132 68

Change in NWC (Days) -64

Other Income Schedule

Other Income 13.05 13.88
Interest income
- On deposits 2.9423 6.67
- Others 1.4221 0.01
- Dividend Income 0 0.00
Foreign exchange fluctuation (net) (including MTM gain / lo 0.574
- Gain on sale of investment 0 0.00
Gain on fair valuation of equity shares accounted at FVTPL 0.4005 0.71
Provision / Credit balances no longer required written back 0.3057 3.25
Profit on disposal of property, plant and equipment (net) 4.3685 0.00
Allowance for doubtful debts (Refer Note 35) 0.0348 0.22
Proceeds from Insurance Claim 0 0.00
Miscellaneous income 3.0039 3.02
13.05 13.88

Bank Balance other than cash and cash equivalent 103 13

Other financial assets 1 0
Investments 6 5
Trade Receivable 306 307
416 325

Other Income as a % of Investments 3% 4%

 65

Mar-23 Mar-24E Mar-25E Mar-26E Mar-27E

151000 170000 210000 226000 255000

150000 163500 192113 234377 285940
98.41% 9% 18% 22% 22%
99.34% 96.18% 91.48% 103.71% 112.13%

2,372 2,586 3,114 3,942 5,019

-1,776 -1832.81 -2082.82 -2478.65 -2955.48
-75% -71% -67% -63% -59%
596 753 1,031 1,463 2,064
25% 29% 33% 37% 41%
-248 - - - -
10.47%
-72.23
-3%
2,275 2,741 3,469 4,417
275 310 374 473 602
12% 12% 12% 12% 12%

158.15 158.15 162.11 168.18 175.54

-45.13% 0.0% 2.5% 3.8% 4.4%

-118.42 -118.42 -121.38 -125.94 -131.45

-35.32% 0.0% 2.5% 3.8% 4.4%

39.73 39.73 40.72 42.25 44.10

-16.56 0.00 0.00 0.00 0.00

-4.82 0.00 0.00 0.00 0.00

18.35 18.98 19.45 20.18 21.07

476 487 662 662 662

13 175 0 0 0
-2
487 662 662 662 662
-197 -152 -101 -51 0
290 509 560 611 662
12 163 163 163 163
 12 163 163 163
12 163 163 163
12 163 163 163 163
(38) (44) (51) (51) (51)
8% 8% 8% 8% 8%

0 120.43 93.85 21.60 27.50

81.5 156.5 42.5 102.5
201.93 250.35 64.10 130.00

120.43 (26.58) (72.25) 5.90

81.5 75.0 -114.0 60.0
201.93 48.42 (186.25) 65.90

-15.35 -17.19 -11.95 -7.38

7.60% 7.60% 7.60% 7.60%

1.76 1.76 1.76 1.76 1.76

10.00 10.00 10.00 10.00 10.00
18 18 18 18 18

- - - - -
-
- - - - -
-
-

- - - - -
-
- - - - -
-
-

-325 -

-177.77% 0.00% 0.00% 0.00% 0.00%

₹ -185.00 - - - -
53.17 53.17 53.17 53.17 53.17
49.03 49.03 49.03 49.03 49.03

47.76 47.76 47.76 47.76 47.76

0.11 0.11 0.11 0.11 0.11
- 17.00 11.00 2.00 2.00

54 37 43 52 52
-14 -17 6 9 0

15.10
100
5.38
0.21
0.00

0.00
0.00
0.08
4.21
0.25
1.55
3.43
15.10

142
0
5
319
466

4%
 Notes

Assumption taken by Investor Presentation*

Assumption to make Revenue growth close to 15-20% as per the guidance in Q1 FY24
 Lease Liabilitiy 2021 2022
Opening Balance 50.80 45.06
Additions -0.65 4.15
Finance cost accrued during the period -4.77 -2.16
Finance Cost (%) -7% -4%
Total Interest (includes other than lease) -12 -7.00

Non Current Borrowing 91 10

Transaltion Difference
Deletions
Payment of lease liabilities -5.09 -6.66
Closing Balance 45.06 42.56
Payment of lease liabilities/Opening Balance -10% -14%
interest paid (5.24) (4.84)
Interest Rate -30% -19%

RTU Asset 2021 2022

RTU Asset Gross Block 48.71 55.95
Additions during the year 3.47
Translation Differences
59.42
RTU Depreciation
Opening Accumulated Depreciation 9.21 14.91
Depreication 7.94
Closing Accumulated Depreciation 7.67 22.85
Net Block 41.04 36.57
Depreication Rate % 0% 14%

Short Term 5.26 7.0659

Long Term 24.74 35.49
18% 17%
30 42.56

A = L+E
A
Change in ROU
Rent Paid (principal + Interest)

L
Change in closing Liabilities
E
Depreciation
Interest

A
L+E
 2023 2024E 2025E 2026E 2027E 2028E
42.56 25.27 19.91 15.66 12.29 9.61
-9.45 -0.15 -0.15 -0.15 -0.15 -0.15
-0.77 (0.77) (0.77) (0.77) (0.77) (0.77)
-8% -8% -8% -8% -8% -8%
-4.88 (0.77) (0.77) (0.77) (0.77) (0.77)
- - - - -
9.81 9.81 9.81 9.81 9.81 9.81
0% 0% 0% 0%

-7.83 (5.21) (4.11) (3.22) (2.53) (1.97)

25.27 19.91 15.66 12.29 9.61 7.49
-21% -21% -21% -21% -21% -21%
(4.11) -3.24 -2.55 -2.00 -1.56 -1.22
-25% -25% -25% -25% -25% -25%

2023 2024E 2025E 2026E 2027E 2028E

59.42 59.27 59.12 58.97 58.82 58.67
-0.15 -0.15 -0.15 -0.15 -0.15 -0.15
0 0 0 0
59.27 59.12 58.97 58.82 58.67 58.53

22.85 31.32 39.77 48.20 56.61 65.00

8.47 8.45 8.43 8.41 8.39 8.37
31.32 39.77 48.20 56.61 65.00 73.36
27.95 19.35 10.77 2.21 -6.32 -14.84
14% 14% 14% 14% 14% 14%

7.98 6.29 4.95 3.88 3.04 2.37

17.29 13.62 10.71 8.40 6.57 5.12
32% 32% 32% 32% 32% 32%
25.27 19.91 15.66 12.29 9.61 7.49

₹ -8.62 ₹ -8.60 ₹ -8.58 ₹ -8.56 ₹ -8.54 ₹ -8.51

₹ -11.94 ₹ -8.46 ₹ -6.65 ₹ -5.22 ₹ -4.09 ₹ -3.19

₹ -17.28 ₹ -5.36 ₹ -4.25 ₹ -3.37 ₹ -2.68 ₹ -2.12

₹ -8.47 ₹ -8.45 ₹ -8.43 ₹ -8.41 ₹ -8.39 ₹ -8.37
(4.11) (3.24) (2.55) (2.00) (1.56) (1.22)

(21) (17) (15) (14) (13) (12)

(30) (17) (15) (14) (13) (12)

1000
100000
100
DCF Model
WACC Calculations
RiskFreeRate 7.16% PreTaxCostofDebt
Expected Market Return 13.00% TaxRate
EquityRiskPremium 5.84%
Beta 0.68
CostofEquity 11.15% Aftertaxcostofdebt

Discounted Cash Flow Entry

Date 1/1/2024 3/31/2024
Year Fraction 0.25
1
EBIT (Other income angle/one time stuff/non operating) 258
Plus: Depreciation & Amortization 53
EBITDA 310
Less: Operating Taxes -66
Less: Changes in Working Capital -32
Net Cash provided by operating activites 213
CFO 213
Investments in Property & Equipment (163)
Sell of Property & Equipments -
Cash Flow from Investing/net Capex (163)
FCFF 0 49.84
Transactional FCFF - 12
Net Debt - -149
Interest after tax - 14
FCFE 0 -113.24
Transactional FCFE 0 -28.31
Present value 0 -25.73

2 Year DCF (Terminal value -> Exit Multiple)

By FCFF By FCFE
Enterprise Value 3,214 2,721
Cash 245 -
Debt 10 -
Equity Value 3,450 2,721
Equity Value/Share 1,949 1,538
Implied P/E
Current P/E #NAME?

Sensitivity Analysis
Terminal Value Share Price Senstivity
 CoC Ex
1,949 8.1
9%
10%
11%
12%
13%

Peer Analysis
Styrenix, Bhansali Engg, Supreme

Median EV/EBITDA
Styrenix Performance Materials Ltd.

Bhansali Engineering Polymers Ltd

Supreme Industries Ltd
 8% Median D/E 0.26
-26% Wd 20%
We 80%

5.63% WACC 10.03%

Terminal value
3/31/2025 3/31/2026 3/31/2026 EBITDA 2026
1.00 1.00 1.00 Exit EV/EBITDA - Taking Median
2 3 3 Enterprise value at the end of 2026
314 414
59 59
374 473 -
-80 -107
-79 -123
215 242 -
215 242
(163) (163)
- - -
(163) (163) -
52.39 79.86 3,831.49
52 80 3,831
-241 -270
15 11
-203.34 -200.66 3,831.49
-203.34 -200.66 3,831.49
-167.96 -150.64 2,876.40

Return via DCF

CMP 1,432
Intrinsic value 1,949
Return 36%
Exit EV/EBITDA
9 10 11 13
 Details
Transaction Date 1/1/2024
ROE 23%
D/E 0.3
Current EV/EBITDA 8
Current P/E 14
CMP (21-12-2022) 1432.3
Share Outstanding 1.77

473 PAT 2026 306.83

V/EBITDA - Taking Median 8.10 Exit P/E 14
rise value at the end of 2026 3831 Equity value at 4357

Return 36.09%
Median P/E
 100
Other Expenses 2020 2021 % of revenue
Power, Fuel and Water (net) 59 3%
Environment expenses 2 0%
Consumption of stores and spares 6 0%
Processing charges 3 0%
Repair & Maintenance - Plant & Machinery and Building 6 0%
Contractor Labour Charges 6 0%
Freight and forwarding expenses 36 2%
Corporate cost sharing expenses 28 1%
Rent 11 0%
IT charges 3 0%
Legal and professional charges 4 0%
Royalty 2 0%
Foreign exchange fluctuation (net) (including MTM gain / loss) 0 0%
Insurance 5 0%
Repair - Others 1 0%
Rates and taxes 6 0%
Payment to the Auditor 0 0%
Expenditure on corporate social responsibility activities 1 0%
Commission & Sitting fees to Independent Directors 0 0%
Loss on property, plant and equipment sold/discarded (net) 0 0%
Travelling and conveyance expenses 2 0%
Bad Debt written Off
CWIP Written Off 0 0%
Loss on fair valuation of equity shares accounted at FVTPL
Miscellaneous expenses 2 0%
183
As a Revenue (%) 8%
2,179 2,372
 100
2022 % of revenue 2023 % of revenue
71 3% 95 4%
4 0% 3 0%
11 0% 10 0%
3 0% 4 0%
13 1% 11 0%
6 0% 7 0%
40 2% 46 2%
33 1% 10 0%
10 0% 11 0%
3 0% 12 0%
3 0% 3 0%
3 0% 2 0%
3 0% 9 0%
4 0% 5 0%
1 0% 1 0%
5 0% 6 0%
0 0% 0 0%
2 0% 5 0%
0 0% 1 0%
0 0% 0 0%
2 0% 4 0%
0 0%
28 1% 0%
0 0%
2 0% 4 0%

2,586
Chemcial Sector
Q1 FY24
Particulars (₹ in Crore) Styrenix Performance Limited Bhansali Engg Supreme Industries
Sales 543.78 294 2368.58
sales (%) YoY -16% -13% 7%
sales (%) QoQ -12% -10% -9%
Net Profit 42 50 216
Net Profit (%) YoY -77% 4% 1%
Net Profit (%) QoQ -52% 257% -40%
CFO to EBITDA (FY23) 122% 112% 94%
CFO to PAT (FY23) 148% 102% 103%

Q2 FY24
Sales 595.00 314.24 2308.69
sales (%) YoY 10% -12% 11%
sales (%) QoQ 9% 7% -3%
Net Profit 56.42 48.22 243.19
Net Profit (%) YoY 139% 17% 196%
Net Profit (%) QoQ 74% -4% 13%
RS Rating 81 36 72
Date Nifty Styrenix Perf Nifty return Shree Cement Return
9/17/2007 4,837.55 200.95
9/24/2007 5,021.35 195.85 3.80% -2.54%
10/1/2007 5,185.85 198.00 3.28% 1.10%
10/8/2007 5,428.25 198.00 4.67% 0.00% Equity
10/15/2007 5,215.30 194.00 -3.92% -2.02% Debt
10/22/2007 5,702.30 196.40 9.34% 1.24% Total
10/29/2007 5,932.40 194.10 4.04% -1.17%
11/5/2007 5,663.25 192.15 -4.54% -1.00% Kd= Interest Cost * (1-ETR
11/12/2007 5,906.85 196.00 4.30% 2.00% Ke = Rf + Beta*(Rm - Rf)
11/19/2007 5,608.60 196.10 -5.05% 0.05%
11/26/2007 5,762.75 197.00 2.75% 0.46%
12/3/2007 5,974.30 201.10 3.67% 2.08%
12/10/2007 6,047.70 201.00 1.23% -0.05%
12/17/2007 5,766.50 199.00 -4.65% -1.00%
12/24/2007 6,079.70 201.80 5.43% 1.41% Rf.
12/31/2007 6,274.30 226.00 3.20% 11.99% Rm.
1/7/2008 6,200.10 205.00 -1.18% -9.29% Beta
1/14/2008 5,705.30 200.00 -7.98% -2.44% Ke
1/21/2008 5,383.35 190.10 -5.64% -4.95%
1/28/2008 5,317.25 195.00 -1.23% 2.58%
2/4/2008 5,120.35 195.25 -3.70% 0.13%
2/11/2008 5,302.90 197.35 3.57% 1.08%
2/18/2008 5,110.75 198.00 -3.62% 0.33%
2/25/2008 5,223.50 197.65 2.21% -0.18%
3/3/2008 4,771.60 179.40 -8.65% -9.23%
3/10/2008 4,745.80 174.90 -0.54% -2.51%
3/17/2008 4,573.95 160.00 -3.62% -8.52%
3/24/2008 4,942.00 163.00 8.05% 1.88%
3/31/2008 4,647.00 156.45 -5.97% -4.02%
4/7/2008 4,777.80 160.95 2.81% 2.88%
4/14/2008 4,958.40 163.10 3.78% 1.34%
4/21/2008 5,111.70 160.00 3.09% -1.90%
4/28/2008 5,228.20 162.00 2.28% 1.25%
5/5/2008 4,982.60 162.50 -4.70% 0.31%
5/12/2008 5,157.70 162.50 3.51% 0.00%
5/19/2008 4,946.55 167.65 -4.09% 3.17%
5/26/2008 4,870.10 166.00 -1.55% -0.98%
6/2/2008 4,627.80 150.55 -4.98% -9.31%
6/9/2008 4,517.10 150.75 -2.39% 0.13%
6/16/2008 4,347.55 145.05 -3.75% -3.78%
6/23/2008 4,136.65 149.25 -4.85% 2.90%
 6/30/2008 4,016.00 150.00 -2.92% 0.50%
7/7/2008 4,049.00 145.00 0.82% -3.33%
7/14/2008 4,092.25 145.00 1.07% 0.00%
7/21/2008 4,311.85 141.30 5.37% -2.55%
7/28/2008 4,413.55 147.00 2.36% 4.03%
8/4/2008 4,529.50 158.50 2.63% 7.82%
8/11/2008 4,430.70 150.00 -2.18% -5.36%
8/18/2008 4,327.45 148.00 -2.33% -1.33%
8/25/2008 4,360.00 144.00 0.75% -2.70%
9/1/2008 4,352.30 150.00 -0.18% 4.17%
9/8/2008 4,228.45 150.00 -2.85% 0.00%
9/15/2008 4,245.25 149.95 0.40% -0.03%
9/22/2008 3,985.25 140.00 -6.12% -6.64%
9/29/2008 3,818.30 127.05 -4.19% -9.25%
10/6/2008 3,279.95 101.15 -14.10% -20.39%
10/13/2008 3,074.35 96.30 -6.27% -4.79%
10/20/2008 2,584.00 96.00 -15.95% -0.31%
10/27/2008 2,885.60 92.00 11.67% -4.17%
11/3/2008 2,973.00 99.00 3.03% 7.61%
11/10/2008 2,810.35 102.00 -5.47% 3.03%
11/17/2008 2,693.45 86.80 -4.16% -14.90%
11/24/2008 2,755.10 81.25 2.29% -6.39%
12/1/2008 2,714.40 87.00 -1.48% 7.08%
12/8/2008 2,921.35 85.90 7.62% -1.26%
12/15/2008 3,077.50 88.00 5.35% 2.44%
12/22/2008 2,857.25 90.00 -7.16% 2.27%
12/29/2008 3,046.75 93.75 6.63% 4.17%
1/5/2009 2,873.00 88.10 -5.70% -6.03%
1/12/2009 2,828.45 89.90 -1.55% 2.04%
1/19/2009 2,678.55 89.00 -5.30% -1.00%
1/26/2009 2,874.80 84.10 7.33% -5.51%
2/2/2009 2,843.10 93.00 -1.10% 10.58%
2/9/2009 2,948.35 86.10 3.70% -7.42%
2/16/2009 2,736.45 86.00 -7.19% -0.12%
2/23/2009 2,763.65 83.50 0.99% -2.91%
3/2/2009 2,620.15 80.00 -5.19% -4.19%
3/9/2009 2,719.25 78.00 3.78% -2.50%
3/16/2009 2,807.05 81.00 3.23% 3.85%
3/23/2009 3,108.65 96.90 10.74% 19.63%
3/30/2009 3,211.05 90.25 3.29% -6.86%
4/6/2009 3,342.05 92.00 4.08% 1.94%
4/13/2009 3,384.40 95.25 1.27% 3.53%
4/20/2009 3,480.75 97.15 2.85% 1.99%
 4/27/2009 3,473.95 97.95 -0.20% 0.82%
5/4/2009 3,620.70 94.00 4.22% -4.03%
5/11/2009 3,671.65 94.10 1.41% 0.11%
5/18/2009 4,238.50 107.05 15.44% 13.76%
5/25/2009 4,448.95 117.00 4.97% 9.29%
6/1/2009 4,586.90 119.00 3.10% 1.71%
6/8/2009 4,583.40 105.00 -0.08% -11.76%
6/15/2009 4,313.60 104.05 -5.89% -0.90%
6/22/2009 4,375.50 103.50 1.43% -0.53%
6/29/2009 4,424.25 101.00 1.11% -2.42%
7/6/2009 4,003.90 103.90 -9.50% 2.87%
7/13/2009 4,374.95 108.00 9.27% 3.95%
7/20/2009 4,568.55 115.00 4.43% 6.48%
7/27/2009 4,636.45 139.75 1.49% 21.52%
8/3/2009 4,481.40 136.00 -3.34% -2.68%
8/10/2009 4,580.05 140.95 2.20% 3.64%
8/17/2009 4,528.80 141.50 -1.12% 0.39%
8/24/2009 4,732.35 149.85 4.49% 5.90%
8/31/2009 4,680.40 149.80 -1.10% -0.03%
9/7/2009 4,829.55 154.00 3.19% 2.80%
9/14/2009 4,976.05 160.00 3.03% 3.90%
9/21/2009 4,958.95 156.00 -0.34% -2.50%
9/28/2009 5,083.40 154.50 2.51% -0.96%
10/5/2009 4,945.20 152.25 -2.72% -1.46%
10/12/2009 5,142.15 164.00 3.98% 7.72%
10/19/2009 4,997.05 170.00 -2.82% 3.66%
10/26/2009 4,711.70 165.15 -5.71% -2.85%
11/2/2009 4,796.15 160.90 1.79% -2.57%
11/9/2009 4,998.95 164.50 4.23% 2.24%
11/16/2009 5,052.45 165.20 1.07% 0.43%
11/23/2009 4,941.75 162.00 -2.19% -1.94%
11/30/2009 5,108.90 163.00 3.38% 0.62%
12/7/2009 5,117.30 175.00 0.16% 7.36%
12/14/2009 4,987.70 175.00 -2.53% 0.00%
12/21/2009 5,178.40 177.00 3.82% 1.14%
12/28/2009 5,201.05 182.00 0.44% 2.82%
1/4/2010 5,244.75 205.15 0.84% 12.72%
1/11/2010 5,252.20 196.00 0.14% -4.46%
1/18/2010 5,036.00 182.00 -4.12% -7.14%
1/25/2010 4,882.05 174.00 -3.06% -4.40%
2/1/2010 4,718.65 178.25 -3.35% 2.44%
2/8/2010 4,826.85 177.60 2.29% -0.36%
2/15/2010 4,844.90 175.10 0.37% -1.41%
 2/22/2010 4,922.30 175.85 1.60% 0.43%
3/1/2010 5,088.70 217.55 3.38% 23.71%
3/8/2010 5,137.00 258.40 0.95% 18.78%
3/15/2010 5,262.80 265.15 2.45% 2.61%
3/22/2010 5,282.00 263.75 0.36% -0.53%
3/29/2010 5,290.50 272.50 0.16% 3.32%
4/5/2010 5,361.75 272.75 1.35% 0.09%
4/12/2010 5,262.60 284.90 -1.85% 4.45%
4/19/2010 5,304.10 307.25 0.79% 7.84%
4/26/2010 5,278.00 342.20 -0.49% 11.38%
5/3/2010 5,018.05 310.30 -4.93% -9.32%
5/10/2010 5,093.50 309.70 1.50% -0.19%
5/17/2010 4,931.15 298.00 -3.19% -3.78%
5/24/2010 5,066.55 301.00 2.75% 1.01%
5/31/2010 5,135.50 298.25 1.36% -0.91%
6/7/2010 5,119.35 325.45 -0.31% 9.12%
6/14/2010 5,262.60 336.95 2.80% 3.53%
6/21/2010 5,269.05 345.75 0.12% 2.61%
6/28/2010 5,237.10 391.20 -0.61% 13.15%
7/5/2010 5,352.45 389.20 2.20% -0.51%
7/12/2010 5,393.90 406.15 0.77% 4.36%
7/19/2010 5,449.10 399.35 1.02% -1.67%
7/26/2010 5,367.60 376.55 -1.50% -5.71%
8/2/2010 5,439.25 386.10 1.33% 2.54%
8/9/2010 5,452.10 387.10 0.24% 0.26%
8/16/2010 5,530.65 360.45 1.44% -6.88%
8/23/2010 5,408.70 350.00 -2.20% -2.90%
8/30/2010 5,479.40 342.20 1.31% -2.23%
9/6/2010 5,640.05 352.20 2.93% 2.92%
9/13/2010 5,884.95 354.05 4.34% 0.53%
9/20/2010 6,018.30 341.85 2.27% -3.45%
9/27/2010 6,143.40 338.15 2.08% -1.08%
10/4/2010 6,103.45 347.75 -0.65% 2.84%
10/11/2010 6,062.65 364.05 -0.67% 4.69%
10/18/2010 6,066.05 374.80 0.06% 2.95%
10/25/2010 6,017.70 377.05 -0.80% 0.60%
11/1/2010 6,312.45 387.00 4.90% 2.64%
11/8/2010 6,071.65 393.60 -3.81% 1.71%
11/15/2010 5,890.30 373.60 -2.99% -5.08%
11/22/2010 5,751.95 351.00 -2.35% -6.05%
11/29/2010 5,992.80 390.35 4.19% 11.21%
12/6/2010 5,857.35 359.55 -2.26% -7.89%
12/13/2010 5,948.75 380.00 1.56% 5.69%
12/20/2010 6,011.60 385.35 1.06% 1.41%
12/27/2010 6,134.50 377.10 2.04% -2.14%
1/3/2011 5,904.60 396.35 -3.75% 5.10%
1/10/2011 5,654.55 394.85 -4.23% -0.38%
1/17/2011 5,696.50 391.80 0.74% -0.77%
1/24/2011 5,512.15 375.15 -3.24% -4.25%
1/31/2011 5,395.75 381.50 -2.11% 1.69%
2/7/2011 5,310.00 359.95 -1.59% -5.65%
2/14/2011 5,458.95 394.10 2.81% 9.49%
2/21/2011 5,303.55 342.55 -2.85% -13.08%
2/28/2011 5,538.75 354.70 4.43% 3.55%
3/7/2011 5,445.45 350.15 -1.68% -1.28%
3/14/2011 5,373.70 374.70 -1.32% 7.01%
3/21/2011 5,654.25 370.00 5.22% -1.25%
3/28/2011 5,826.05 386.50 3.04% 4.46%
4/4/2011 5,842.00 462.85 0.27% 19.75%
4/11/2011 5,824.55 512.95 -0.30% 10.82%
4/18/2011 5,884.70 525.00 1.03% 2.35%
4/25/2011 5,749.50 514.55 -2.30% -1.99%
5/2/2011 5,551.45 487.35 -3.44% -5.29%
5/9/2011 5,544.75 497.85 -0.12% 2.15%
5/16/2011 5,486.35 518.65 -1.05% 4.18%
5/23/2011 5,476.10 509.00 -0.19% -1.86%
5/30/2011 5,516.75 535.80 0.74% 5.27%
6/6/2011 5,485.80 646.30 -0.56% 20.62%
6/13/2011 5,366.40 663.10 -2.18% 2.60%
6/20/2011 5,471.25 592.35 1.95% -10.67%
6/27/2011 5,627.20 616.20 2.85% 4.03%
7/4/2011 5,660.65 627.25 0.59% 1.79%
7/11/2011 5,581.10 630.50 -1.41% 0.52%
7/18/2011 5,633.95 627.90 0.95% -0.41%
7/25/2011 5,482.00 620.60 -2.70% -1.16%
8/1/2011 5,211.25 586.40 -4.94% -5.51%
8/8/2011 5,072.95 577.70 -2.65% -1.48%
8/15/2011 4,845.65 507.85 -4.48% -12.09%
8/22/2011 4,747.80 508.05 -2.02% 0.04%
8/29/2011 5,040.00 536.50 6.15% 5.60%
9/5/2011 5,059.45 562.75 0.39% 4.89%
9/12/2011 5,084.25 550.80 0.49% -2.12%
9/19/2011 4,867.75 576.40 -4.26% 4.65%
9/26/2011 4,943.25 576.75 1.55% 0.06%
10/3/2011 4,888.05 592.60 -1.12% 2.75%
10/10/2011 5,132.30 629.85 5.00% 6.29%
10/17/2011 5,049.95 595.15 -1.60% -5.51%
10/24/2011 5,360.70 629.70 6.15% 5.81%
10/31/2011 5,284.20 619.30 -1.43% -1.65%
11/7/2011 5,168.85 619.10 -2.18% -0.03%
11/14/2011 4,905.80 606.20 -5.09% -2.08%
11/21/2011 4,710.05 589.65 -3.99% -2.73%
11/28/2011 5,050.15 602.75 7.22% 2.22%
12/5/2011 4,866.70 589.00 -3.63% -2.28%
12/12/2011 4,651.60 585.50 -4.42% -0.59%
12/19/2011 4,714.00 594.70 1.34% 1.57%
12/26/2011 4,624.30 586.10 -1.90% -1.45%
1/2/2012 4,754.10 591.65 2.81% 0.95%
1/9/2012 4,866.00 598.25 2.35% 1.12%
1/16/2012 5,048.60 600.35 3.75% 0.35%
1/23/2012 5,204.70 601.50 3.09% 0.19%
1/30/2012 5,325.85 595.15 2.33% -1.06%
2/6/2012 5,381.60 618.35 1.05% 3.90%
2/13/2012 5,564.30 613.10 3.39% -0.85%
2/20/2012 5,429.30 642.35 -2.43% 4.77%
2/27/2012 5,359.35 683.40 -1.29% 6.39%
3/5/2012 5,333.55 728.25 -0.48% 6.56%
3/12/2012 5,317.90 749.15 -0.29% 2.87%
3/19/2012 5,278.20 747.30 -0.75% -0.25%
3/26/2012 5,295.55 761.50 0.33% 1.90%
4/2/2012 5,322.90 751.90 0.52% -1.26%
4/9/2012 5,207.45 785.30 -2.17% 4.44%
4/16/2012 5,290.85 826.35 1.60% 5.23%
4/23/2012 5,190.60 715.60 -1.89% -13.40%
4/30/2012 5,086.85 704.55 -2.00% -1.54%
5/7/2012 4,928.90 697.70 -3.11% -0.97%
5/14/2012 4,891.45 742.85 -0.76% 6.47%
5/21/2012 4,920.40 750.85 0.59% 1.08%
5/28/2012 4,841.60 730.50 -1.60% -2.71%
6/4/2012 5,068.35 750.25 4.68% 2.70%
6/11/2012 5,139.05 710.25 1.39% -5.33%
6/18/2012 5,146.05 715.05 0.14% 0.68%
6/25/2012 5,278.90 736.80 2.58% 3.04%
7/2/2012 5,316.95 720.15 0.72% -2.26%
7/9/2012 5,227.25 712.20 -1.69% -1.10%
7/16/2012 5,205.10 692.95 -0.42% -2.70%
7/23/2012 5,099.85 687.95 -2.02% -0.72%
7/30/2012 5,215.70 652.50 2.27% -5.15%
8/6/2012 5,320.40 672.70 2.01% 3.10%
 8/13/2012 5,366.30 670.65 0.86% -0.30%
8/20/2012 5,386.70 667.05 0.38% -0.54%
8/27/2012 5,258.50 646.05 -2.38% -3.15%
9/3/2012 5,342.10 610.05 1.59% -5.57%
9/10/2012 5,577.65 624.00 4.41% 2.29%
9/17/2012 5,691.15 626.30 2.03% 0.37%
9/24/2012 5,703.30 632.10 0.21% 0.93%
10/1/2012 5,746.95 650.00 0.77% 2.83%
10/8/2012 5,676.05 649.15 -1.23% -0.13%
10/15/2012 5,684.25 627.50 0.14% -3.34%
10/22/2012 5,664.30 620.85 -0.35% -1.06%
10/29/2012 5,697.70 649.60 0.59% 4.63%
11/5/2012 5,686.25 649.85 -0.20% 0.04%
11/12/2012 5,574.05 649.15 -1.97% -0.11%
11/19/2012 5,626.60 670.05 0.94% 3.22%
11/26/2012 5,879.85 697.90 4.50% 4.16%
12/3/2012 5,907.40 701.30 0.47% 0.49%
12/10/2012 5,879.60 731.65 -0.47% 4.33%
12/17/2012 5,847.70 746.45 -0.54% 2.02%
12/24/2012 5,908.35 742.50 1.04% -0.53%
12/31/2012 6,016.15 747.60 1.82% 0.69%
1/7/2013 5,951.30 722.40 -1.08% -3.37%
1/14/2013 6,064.40 718.80 1.90% -0.50%
1/21/2013 6,074.65 681.15 0.17% -5.24%
1/28/2013 5,998.90 650.50 -1.25% -4.50%
2/4/2013 5,903.50 629.95 -1.59% -3.16%
2/11/2013 5,887.40 593.15 -0.27% -5.84%
2/18/2013 5,850.30 613.45 -0.63% 3.42%
2/25/2013 5,719.70 617.20 -2.23% 0.61%
3/4/2013 5,945.70 597.80 3.95% -3.14%
3/11/2013 5,872.60 608.70 -1.23% 1.82%
3/18/2013 5,651.35 575.30 -3.77% -5.49%
3/25/2013 5,682.55 553.05 0.55% -3.87%
4/1/2013 5,553.25 588.70 -2.28% 6.45%
4/8/2013 5,528.55 499.80 -0.44% -15.10%
4/15/2013 5,783.10 500.00 4.60% 0.04%
4/22/2013 5,871.45 499.95 1.53% -0.01%
4/29/2013 5,944.00 494.15 1.24% -1.16%
5/6/2013 6,094.75 537.00 2.54% 8.67%
5/13/2013 6,187.30 527.80 1.52% -1.71%
5/20/2013 5,983.55 434.25 -3.29% -17.72%
5/27/2013 5,985.95 429.80 0.04% -1.02%
6/3/2013 5,881.00 427.20 -1.75% -0.60%
 6/10/2013 5,808.40 412.00 -1.23% -3.56%
6/17/2013 5,667.65 415.15 -2.42% 0.76%
6/24/2013 5,842.20 395.05 3.08% -4.84%
7/1/2013 5,867.90 406.20 0.44% 2.82%
7/8/2013 6,009.00 413.80 2.40% 1.87%
7/15/2013 6,029.20 410.35 0.34% -0.83%
7/22/2013 5,886.20 417.75 -2.37% 1.80%
7/29/2013 5,677.90 363.10 -3.54% -13.08%
8/5/2013 5,565.65 356.20 -1.98% -1.90%
8/12/2013 5,507.85 350.10 -1.04% -1.71%
8/19/2013 5,471.75 348.00 -0.66% -0.60%
8/26/2013 5,471.80 343.50 0.00% -1.29%
9/2/2013 5,680.40 343.00 3.81% -0.15%
9/9/2013 5,850.60 380.95 3.00% 11.06%
9/16/2013 6,012.10 394.25 2.76% 3.49%
9/23/2013 5,833.20 388.85 -2.98% -1.37%
9/30/2013 5,907.30 381.50 1.27% -1.89%
10/7/2013 6,096.20 387.35 3.20% 1.53%
10/14/2013 6,189.35 381.60 1.53% -1.48%
10/21/2013 6,144.90 386.05 -0.72% 1.17%
10/28/2013 6,307.20 384.95 2.64% -0.28%
11/4/2013 6,140.75 404.05 -2.64% 4.96%
11/11/2013 6,056.15 381.55 -1.38% -5.57%
11/18/2013 5,995.45 394.45 -1.00% 3.38%
11/25/2013 6,176.10 412.80 3.01% 4.65%
12/2/2013 6,259.90 411.00 1.36% -0.44%
12/9/2013 6,168.40 416.75 -1.46% 1.40%
12/16/2013 6,274.25 423.20 1.72% 1.55%
12/23/2013 6,313.80 420.30 0.63% -0.69%
12/30/2013 6,211.15 414.80 -1.63% -1.31%
1/6/2014 6,171.45 410.35 -0.64% -1.07%
1/13/2014 6,261.65 404.90 1.46% -1.33%
1/20/2014 6,266.75 403.05 0.08% -0.46%
1/27/2014 6,089.50 401.75 -2.83% -0.32%
2/3/2014 6,063.20 403.10 -0.43% 0.34%
2/10/2014 6,048.35 405.00 -0.24% 0.47%
2/17/2014 6,155.45 401.95 1.77% -0.75%
2/24/2014 6,276.95 400.05 1.97% -0.47%
3/3/2014 6,526.65 425.75 3.98% 6.42%
3/10/2014 6,504.20 419.35 -0.34% -1.50%
3/17/2014 6,493.20 438.15 -0.17% 4.48%
3/24/2014 6,695.90 477.25 3.12% 8.92%
3/31/2014 6,694.35 470.85 -0.02% -1.34%
 4/7/2014 6,776.30 470.30 1.22% -0.12%
4/14/2014 6,779.40 475.50 0.05% 1.11%
4/21/2014 6,782.75 480.10 0.05% 0.97%
4/28/2014 6,694.80 451.75 -1.30% -5.91%
5/5/2014 6,858.80 441.90 2.45% -2.18%
5/12/2014 7,203.00 444.25 5.02% 0.53%
5/19/2014 7,367.10 494.75 2.28% 11.37%
5/26/2014 7,229.95 489.45 -1.86% -1.07%
6/2/2014 7,583.40 550.80 4.89% 12.53%
6/9/2014 7,542.10 519.85 -0.54% -5.62%
6/16/2014 7,511.45 548.35 -0.41% 5.48%
6/23/2014 7,508.80 569.70 -0.04% 3.89%
6/30/2014 7,751.60 580.90 3.23% 1.97%
7/7/2014 7,459.60 524.95 -3.77% -9.63%
7/14/2014 7,663.90 556.60 2.74% 6.03%
7/21/2014 7,790.45 539.05 1.65% -3.15%
7/28/2014 7,602.60 538.40 -2.41% -0.12%
8/4/2014 7,568.55 566.20 -0.45% 5.16%
8/11/2014 7,791.70 551.35 2.95% -2.62%
8/18/2014 7,913.20 582.40 1.56% 5.63%
8/25/2014 7,954.35 599.75 0.52% 2.98%
9/1/2014 8,086.85 605.85 1.67% 1.02%
9/8/2014 8,105.50 624.20 0.23% 3.03%
9/15/2014 8,121.45 609.20 0.20% -2.40%
9/22/2014 7,968.85 589.05 -1.88% -3.31%
9/29/2014 7,945.55 589.25 -0.29% 0.03%
10/6/2014 7,859.95 569.70 -1.08% -3.32%
10/13/2014 7,779.70 555.20 -1.02% -2.55%
10/20/2014 8,014.55 561.85 3.02% 1.20%
10/27/2014 8,322.20 634.05 3.84% 12.85%
11/3/2014 8,337.00 648.90 0.18% 2.34%
11/10/2014 8,389.90 630.10 0.63% -2.90%
11/17/2014 8,477.35 657.60 1.04% 4.36%
11/24/2014 8,588.25 635.45 1.31% -3.37%
12/1/2014 8,538.30 677.75 -0.58% 6.66%
12/8/2014 8,224.10 632.00 -3.68% -6.75%
12/15/2014 8,225.20 638.95 0.01% 1.10%
12/22/2014 8,200.70 647.55 -0.30% 1.35%
12/29/2014 8,395.45 664.15 2.37% 2.56%
1/5/2015 8,284.50 637.40 -1.32% -4.03%
1/12/2015 8,513.80 697.35 2.77% 9.41%
1/19/2015 8,835.60 713.05 3.78% 2.25%
1/26/2015 8,808.90 704.45 -0.30% -1.21%
 2/2/2015 8,661.05 640.90 -1.68% -9.02%
2/9/2015 8,805.50 640.65 1.67% -0.04%
2/16/2015 8,833.60 686.00 0.32% 7.08%
2/23/2015 8,844.60 666.70 0.12% -2.81%
3/2/2015 8,937.75 669.60 1.05% 0.43%
3/9/2015 8,647.75 669.25 -3.24% -0.05%
3/16/2015 8,570.90 624.30 -0.89% -6.72%
3/23/2015 8,341.40 641.40 -2.68% 2.74%
3/30/2015 8,586.25 668.00 2.94% 4.15%
4/6/2015 8,780.35 662.30 2.26% -0.85%
4/13/2015 8,606.00 695.50 -1.99% 5.01%
4/20/2015 8,305.25 650.20 -3.49% -6.51%
4/27/2015 8,181.50 639.70 -1.49% -1.61%
5/4/2015 8,191.50 620.75 0.12% -2.96%
5/11/2015 8,262.35 649.60 0.86% 4.65%
5/18/2015 8,458.95 618.20 2.38% -4.83%
5/25/2015 8,433.65 597.45 -0.30% -3.36%
6/1/2015 8,114.70 570.05 -3.78% -4.59%
6/8/2015 7,982.90 553.65 -1.62% -2.88%
6/15/2015 8,224.95 569.65 3.03% 2.89%
6/22/2015 8,381.10 569.35 1.90% -0.05%
6/29/2015 8,484.90 589.75 1.24% 3.58%
7/6/2015 8,360.55 624.55 -1.47% 5.90%
7/13/2015 8,609.85 683.60 2.98% 9.45%
7/20/2015 8,521.55 722.60 -1.03% 5.71%
7/27/2015 8,532.85 743.25 0.13% 2.86%
8/3/2015 8,564.60 889.50 0.37% 19.68%
8/10/2015 8,518.55 802.60 -0.54% -9.77%
8/17/2015 8,299.95 823.65 -2.57% 2.62%
8/24/2015 8,001.95 762.75 -3.59% -7.39%
8/31/2015 7,655.05 759.75 -4.34% -0.39%
9/7/2015 7,789.30 740.40 1.75% -2.55%
9/14/2015 7,981.90 763.55 2.47% 3.13%
9/21/2015 7,868.50 762.55 -1.42% -0.13%
9/28/2015 7,950.90 740.35 1.05% -2.91%
10/5/2015 8,189.70 755.35 3.00% 2.03%
10/12/2015 8,238.15 814.45 0.59% 7.82%
10/19/2015 8,295.45 823.20 0.70% 1.07%
10/26/2015 8,065.80 794.45 -2.77% -3.49%
11/2/2015 7,954.30 717.25 -1.38% -9.72%
11/9/2015 7,762.25 720.30 -2.41% 0.43%
11/16/2015 7,856.55 732.10 1.21% 1.64%
11/23/2015 7,942.70 734.05 1.10% 0.27%
11/30/2015 7,781.90 718.85 -2.02% -2.07%
12/7/2015 7,610.45 697.45 -2.20% -2.98%
12/14/2015 7,761.95 690.80 1.99% -0.95%
12/21/2015 7,861.05 726.75 1.28% 5.20%
12/28/2015 7,946.35 767.55 1.09% 5.61%
1/4/2016 7,601.35 730.85 -4.34% -4.78%
1/11/2016 7,437.80 680.25 -2.15% -6.92%
1/18/2016 7,422.45 683.25 -0.21% 0.44%
1/25/2016 7,563.55 696.70 1.90% 1.97%
2/1/2016 7,489.10 585.95 -0.98% -15.90%
2/8/2016 6,980.95 512.65 -6.79% -12.51%
2/15/2016 7,210.75 509.50 3.29% -0.61%
2/22/2016 7,029.75 489.95 -2.51% -3.84%
2/29/2016 7,485.35 566.45 6.48% 15.61%
3/7/2016 7,510.20 556.25 0.33% -1.80%
3/14/2016 7,604.35 556.45 1.25% 0.04%
3/21/2016 7,716.50 582.00 1.47% 4.59%
3/28/2016 7,713.05 573.65 -0.04% -1.43%
4/4/2016 7,555.20 579.20 -2.05% 0.97%
4/11/2016 7,850.45 600.65 3.91% 3.70%
4/18/2016 7,899.30 614.75 0.62% 2.35%
4/25/2016 7,849.80 620.95 -0.63% 1.01%
5/2/2016 7,733.45 615.95 -1.48% -0.81%
5/9/2016 7,814.90 626.25 1.05% 1.67%
5/16/2016 7,749.70 616.05 -0.83% -1.63%
5/23/2016 8,156.65 599.25 5.25% -2.73%
5/30/2016 8,220.80 601.75 0.79% 0.42%
6/6/2016 8,170.05 621.60 -0.62% 3.30%
6/13/2016 8,170.20 605.80 0.00% -2.54%
6/20/2016 8,088.60 601.20 -1.00% -0.76%
6/27/2016 8,328.35 640.85 2.96% 6.60%
7/4/2016 8,323.20 648.35 -0.06% 1.17%
7/11/2016 8,541.40 644.85 2.62% -0.54%
7/18/2016 8,541.20 624.65 0.00% -3.13%
7/25/2016 8,638.50 613.80 1.14% -1.74%
8/1/2016 8,683.15 626.15 0.52% 2.01%
8/8/2016 8,592.15 543.10 -1.05% -13.26%
8/15/2016 8,666.90 574.60 0.87% 5.80%
8/22/2016 8,572.55 566.75 -1.09% -1.37%
8/29/2016 8,809.65 569.05 2.77% 0.41%
9/5/2016 8,866.70 570.95 0.65% 0.33%
9/12/2016 8,779.85 579.70 -0.98% 1.53%
9/19/2016 8,831.55 595.45 0.59% 2.72%
 9/26/2016 8,611.15 580.50 -2.50% -2.51%
10/3/2016 8,697.60 615.75 1.00% 6.07%
10/10/2016 8,583.40 611.00 -1.31% -0.77%
10/17/2016 8,693.05 615.05 1.28% 0.66%
10/24/2016 8,638.00 648.70 -0.63% 5.47%
10/31/2016 8,433.75 612.90 -2.36% -5.52%
11/7/2016 8,296.30 598.05 -1.63% -2.42%
11/14/2016 8,074.10 576.15 -2.68% -3.66%
11/21/2016 8,114.30 593.10 0.50% 2.94%
11/28/2016 8,086.80 576.70 -0.34% -2.77%
12/5/2016 8,261.75 590.70 2.16% 2.43%
12/12/2016 8,139.45 589.70 -1.48% -0.17%
12/19/2016 7,985.75 580.00 -1.89% -1.64%
12/26/2016 8,185.80 588.80 2.51% 1.52%
1/2/2017 8,243.80 601.95 0.71% 2.23%
1/9/2017 8,400.35 594.65 1.90% -1.21%
1/16/2017 8,349.35 602.80 -0.61% 1.37%
1/23/2017 8,641.25 610.45 3.50% 1.27%
1/30/2017 8,740.95 636.50 1.15% 4.27%
2/6/2017 8,793.55 624.75 0.60% -1.85%
2/13/2017 8,821.70 599.70 0.32% -4.01%
2/20/2017 8,939.50 605.00 1.34% 0.88%
2/27/2017 8,897.55 611.80 -0.47% 1.12%
3/6/2017 8,934.55 603.75 0.42% -1.32%
3/13/2017 9,160.05 611.45 2.52% 1.28%
3/20/2017 9,108.00 629.60 -0.57% 2.97%
3/27/2017 9,173.75 687.20 0.72% 9.15%
4/3/2017 9,198.30 750.85 0.27% 9.26%
4/10/2017 9,150.80 727.70 -0.52% -3.08%
4/17/2017 9,119.40 748.85 -0.34% 2.91%
4/24/2017 9,304.05 737.95 2.02% -1.46%
5/1/2017 9,285.30 706.85 -0.20% -4.21%
5/8/2017 9,400.90 707.00 1.24% 0.02%
5/15/2017 9,427.90 752.00 0.29% 6.36%
5/22/2017 9,595.10 744.75 1.77% -0.96%
5/29/2017 9,653.50 761.85 0.61% 2.30%
6/5/2017 9,668.25 833.45 0.15% 9.40%
6/12/2017 9,588.05 854.55 -0.83% 2.53%
6/19/2017 9,574.95 829.95 -0.14% -2.88%
6/26/2017 9,520.90 832.30 -0.56% 0.28%
7/3/2017 9,665.80 950.90 1.52% 14.25%
7/10/2017 9,886.35 922.10 2.28% -3.03%
7/17/2017 9,915.25 1,060.25 0.29% 14.98%
 7/24/2017 10,014.50 1,073.55 1.00% 1.25%
7/31/2017 10,066.40 1,022.15 0.52% -4.79%
8/7/2017 9,710.80 846.30 -3.53% -17.20%
8/14/2017 9,837.40 877.85 1.30% 3.73%
8/21/2017 9,857.05 894.35 0.20% 1.88%
8/28/2017 9,974.40 938.95 1.19% 4.99%
9/4/2017 9,934.80 920.40 -0.40% -1.98%
9/11/2017 10,085.40 948.95 1.52% 3.10%
9/18/2017 9,964.40 884.25 -1.20% -6.82%
9/25/2017 9,788.60 892.85 -1.76% 0.97%
10/2/2017 9,979.70 1,003.00 1.95% 12.34%
10/9/2017 10,167.45 1,042.25 1.88% 3.91%
10/16/2017 10,146.55 1,030.45 -0.21% -1.13%
10/23/2017 10,323.05 1,033.00 1.74% 0.25%
10/30/2017 10,452.50 947.95 1.25% -8.23%
11/6/2017 10,321.75 960.30 -1.25% 1.30%
11/13/2017 10,283.60 915.35 -0.37% -4.68%
11/20/2017 10,389.70 995.80 1.03% 8.79%
11/27/2017 10,121.80 1,086.35 -2.58% 9.09%
12/4/2017 10,265.65 1,052.55 1.42% -3.11%
12/11/2017 10,333.25 1,078.65 0.66% 2.48%
12/18/2017 10,493.00 1,061.50 1.55% -1.59%
12/25/2017 10,530.70 1,066.10 0.36% 0.43%
1/1/2018 10,558.85 1,078.30 0.27% 1.14%
1/8/2018 10,681.25 1,096.35 1.16% 1.67%
1/15/2018 10,894.70 1,062.25 2.00% -3.11%
1/22/2018 11,069.65 1,045.35 1.61% -1.59%
1/29/2018 10,760.60 926.80 -2.79% -11.34%
2/5/2018 10,454.95 943.95 -2.84% 1.85%
2/12/2018 10,452.30 951.10 -0.03% 0.76%
2/19/2018 10,491.05 904.35 0.37% -4.92%
2/26/2018 10,458.35 930.55 -0.31% 2.90%
3/5/2018 10,226.85 879.00 -2.21% -5.54%
3/12/2018 10,195.15 877.55 -0.31% -0.16%
3/19/2018 9,998.05 828.50 -1.93% -5.59%
3/26/2018 10,113.70 857.05 1.16% 3.45%
4/2/2018 10,331.60 918.40 2.15% 7.16%
4/9/2018 10,480.60 890.30 1.44% -3.06%
4/16/2018 10,564.05 902.75 0.80% 1.40%
4/23/2018 10,692.30 909.60 1.21% 0.76%
4/30/2018 10,618.25 875.45 -0.69% -3.75%
5/7/2018 10,806.50 878.35 1.77% 0.33%
5/14/2018 10,596.40 830.70 -1.94% -5.42%
 5/21/2018 10,605.15 810.60 0.08% -2.42%
5/28/2018 10,696.20 817.80 0.86% 0.89%
6/4/2018 10,767.65 811.25 0.67% -0.80%
6/11/2018 10,817.70 802.45 0.46% -1.08%
6/18/2018 10,821.85 789.20 0.04% -1.65%
6/25/2018 10,714.30 756.95 -0.99% -4.09%
7/2/2018 10,772.65 733.30 0.54% -3.12%
7/9/2018 11,018.90 753.45 2.29% 2.75%
7/16/2018 11,010.20 704.45 -0.08% -6.50%
7/23/2018 11,278.35 719.65 2.44% 2.16%
7/30/2018 11,360.80 755.75 0.73% 5.02%
8/6/2018 11,429.50 771.85 0.60% 2.13%
8/13/2018 11,470.75 766.85 0.36% -0.65%
8/20/2018 11,557.10 770.45 0.75% 0.47%
8/27/2018 11,680.50 818.05 1.07% 6.18%
9/3/2018 11,589.10 798.40 -0.78% -2.40%
9/10/2018 11,515.20 803.70 -0.64% 0.66%
9/17/2018 11,143.10 755.95 -3.23% -5.94%
9/24/2018 10,930.45 668.70 -1.91% -11.54%
10/1/2018 10,316.45 665.50 -5.62% -0.48%
10/8/2018 10,472.50 707.60 1.51% 6.33%
10/15/2018 10,303.55 714.75 -1.61% 1.01%
10/22/2018 10,030.00 666.20 -2.65% -6.79%
10/29/2018 10,553.00 684.10 5.21% 2.69%
11/5/2018 10,585.20 719.05 0.31% 5.11%
11/12/2018 10,682.20 719.50 0.92% 0.06%
11/19/2018 10,526.75 703.40 -1.46% -2.24%
11/26/2018 10,876.75 690.70 3.32% -1.81%
12/3/2018 10,693.70 652.50 -1.68% -5.53%
12/10/2018 10,805.45 672.50 1.05% 3.07%
12/17/2018 10,754.00 684.00 -0.48% 1.71%
12/24/2018 10,859.90 684.80 0.98% 0.12%
12/31/2018 10,727.35 692.75 -1.22% 1.16%
1/7/2019 10,794.95 676.35 0.63% -2.37%
1/14/2019 10,906.95 684.30 1.04% 1.18%
1/21/2019 10,780.55 655.65 -1.16% -4.19%
1/28/2019 10,893.65 626.85 1.05% -4.39%
2/4/2019 10,943.60 595.75 0.46% -4.96%
2/11/2019 10,724.40 495.35 -2.00% -16.85%
2/18/2019 10,791.65 516.60 0.63% 4.29%
2/25/2019 10,863.50 532.75 0.67% 3.13%
3/4/2019 11,035.40 536.35 1.58% 0.68%
3/11/2019 11,426.85 543.05 3.55% 1.25%
 3/18/2019 11,456.90 539.30 0.26% -0.69%
3/25/2019 11,623.90 523.10 1.46% -3.00%
4/1/2019 11,665.95 538.00 0.36% 2.85%
4/8/2019 11,643.45 530.35 -0.19% -1.42%
4/15/2019 11,752.80 530.20 0.94% -0.03%
4/22/2019 11,754.65 553.10 0.02% 4.32%
4/29/2019 11,712.25 532.30 -0.36% -3.76%
5/6/2019 11,278.90 516.95 -3.70% -2.88%
5/13/2019 11,407.15 492.85 1.14% -4.66%
5/20/2019 11,844.10 478.05 3.83% -3.00%
5/27/2019 11,922.80 492.15 0.66% 2.95%
6/3/2019 11,870.65 495.65 -0.44% 0.71%
6/10/2019 11,823.30 475.55 -0.40% -4.06%
6/17/2019 11,724.10 457.65 -0.84% -3.76%
6/24/2019 11,788.85 462.20 0.55% 0.99%
7/1/2019 11,811.15 445.20 0.19% -3.68%
7/8/2019 11,552.50 422.60 -2.19% -5.08%
7/15/2019 11,419.25 417.55 -1.15% -1.19%
7/22/2019 11,284.30 399.00 -1.18% -4.44%
7/29/2019 10,997.35 391.60 -2.54% -1.85%
8/5/2019 11,109.65 395.10 1.02% 0.89%
8/12/2019 11,047.80 389.65 -0.56% -1.38%
8/19/2019 10,829.35 591.25 -1.98% 51.74%
8/26/2019 11,023.25 605.05 1.79% 2.33%
9/2/2019 10,946.20 626.30 -0.70% 3.51%
9/9/2019 11,075.90 643.55 1.18% 2.75%
9/16/2019 11,274.20 651.25 1.79% 1.20%
9/23/2019 11,512.40 642.60 2.11% -1.33%
9/30/2019 11,174.75 629.50 -2.93% -2.04%
10/7/2019 11,305.05 629.40 1.17% -0.02%
10/14/2019 11,661.85 641.05 3.16% 1.85%
10/21/2019 11,583.90 672.60 -0.67% 4.92%
10/28/2019 11,890.60 669.70 2.65% -0.43%
11/4/2019 11,908.15 674.30 0.15% 0.69%
11/11/2019 11,895.45 674.40 -0.11% 0.01%
11/18/2019 11,914.40 712.85 0.16% 5.70%
11/25/2019 12,056.05 692.55 1.19% -2.85%
12/2/2019 11,921.50 675.85 -1.12% -2.41%
12/9/2019 12,086.70 708.95 1.39% 4.90%
12/16/2019 12,271.80 709.80 1.53% 0.12%
12/23/2019 12,245.80 715.00 -0.21% 0.73%
12/30/2019 12,226.65 730.80 -0.16% 2.21%
1/6/2020 12,256.80 750.30 0.25% 2.67%
 1/13/2020 12,352.35 768.75 0.78% 2.46%
1/20/2020 12,248.25 777.25 -0.84% 1.11%
1/27/2020 11,962.10 769.45 -2.34% -1.00%
2/3/2020 12,098.35 768.90 1.14% -0.07%
2/10/2020 12,113.45 766.85 0.12% -0.27%
2/17/2020 12,080.85 756.55 -0.27% -1.34%
2/24/2020 11,201.75 699.60 -7.28% -7.53%
3/2/2020 10,989.45 686.85 -1.90% -1.82%
3/9/2020 9,955.20 627.00 -9.41% -8.71%
3/16/2020 8,745.45 573.75 -12.15% -8.49%
3/23/2020 8,660.25 549.65 -0.97% -4.20%
3/30/2020 8,083.80 531.90 -6.66% -3.23%
4/6/2020 9,111.90 561.45 12.72% 5.56%
4/13/2020 9,266.75 614.20 1.70% 9.40%
4/20/2020 9,154.40 561.45 -1.21% -8.59%
4/27/2020 9,859.90 580.30 7.71% 3.36%
5/4/2020 9,251.50 566.10 -6.17% -2.45%
5/11/2020 9,136.85 561.95 -1.24% -0.73%
5/18/2020 9,039.25 600.00 -1.07% 6.77%
5/25/2020 9,580.30 591.70 5.99% -1.38%
6/1/2020 10,142.15 623.95 5.86% 5.45%
6/8/2020 9,972.90 636.10 -1.67% 1.95%
6/15/2020 10,244.40 610.15 2.72% -4.08%
6/22/2020 10,383.00 724.50 1.35% 18.74%
6/29/2020 10,607.35 764.55 2.16% 5.53%
7/6/2020 10,768.05 831.00 1.51% 8.69%
7/13/2020 10,901.70 824.75 1.24% -0.75%
7/20/2020 11,194.15 700.40 2.68% -15.08%
7/27/2020 11,073.45 533.80 -1.08% -23.79%
8/3/2020 11,214.05 525.35 1.27% -1.58%
8/10/2020 11,178.40 499.35 -0.32% -4.95%
8/17/2020 11,371.60 538.75 1.73% 7.89%
8/24/2020 11,647.60 525.50 2.43% -2.46%
8/31/2020 11,333.85 506.25 -2.69% -3.66%
9/7/2020 11,464.45 500.55 1.15% -1.13%
9/14/2020 11,504.95 520.55 0.35% 4.00%
9/21/2020 11,050.25 503.70 -3.95% -3.24%
9/28/2020 11,416.95 532.95 3.32% 5.81%
10/5/2020 11,914.20 525.85 4.36% -1.33%
10/12/2020 11,762.45 510.15 -1.27% -2.99%
10/19/2020 11,930.35 517.85 1.43% 1.51%
10/26/2020 11,642.40 527.20 -2.41% 1.81%
11/2/2020 12,263.55 545.40 5.34% 3.45%
 11/9/2020 12,719.95 584.60 3.72% 7.19%
11/16/2020 12,859.05 658.40 1.09% 12.62%
11/23/2020 12,968.95 695.50 0.85% 5.63%
11/30/2020 13,258.55 779.60 2.23% 12.09%
12/7/2020 13,513.85 778.70 1.93% -0.12%
12/14/2020 13,760.55 779.60 1.83% 0.12%
12/21/2020 13,749.25 771.00 -0.08% -1.10%
12/28/2020 14,018.50 830.00 1.96% 7.65%
1/4/2021 14,347.25 912.65 2.35% 9.96%
1/11/2021 14,433.70 1,010.75 0.60% 10.75%
1/18/2021 14,371.90 951.45 -0.43% -5.87%
1/25/2021 13,634.60 924.10 -5.13% -2.87%
2/1/2021 14,924.25 1,002.65 9.46% 8.50%
2/8/2021 15,163.30 1,020.25 1.60% 1.76%
2/15/2021 14,981.75 978.50 -1.20% -4.09%
2/22/2021 14,529.15 967.30 -3.02% -1.14%
3/1/2021 14,938.10 962.85 2.81% -0.46%
3/8/2021 15,030.95 989.60 0.62% 2.78%
3/15/2021 14,744.00 951.65 -1.91% -3.83%
3/22/2021 14,507.30 958.45 -1.61% 0.71%
3/29/2021 14,867.35 965.55 2.48% 0.74%
4/5/2021 14,834.85 1,032.05 -0.22% 6.89%
4/12/2021 14,617.85 1,037.90 -1.46% 0.57%
4/19/2021 14,341.35 1,110.90 -1.89% 7.03%
4/26/2021 14,631.10 1,108.95 2.02% -0.18%
5/3/2021 14,823.15 1,220.80 1.31% 10.09%
5/10/2021 14,677.80 1,222.25 -0.98% 0.12%
5/17/2021 15,175.30 1,345.80 3.39% 10.11%
5/24/2021 15,435.65 1,338.05 1.72% -0.58%
5/31/2021 15,670.25 1,465.50 1.52% 9.53%
6/7/2021 15,799.35 1,484.30 0.82% 1.28%
6/14/2021 15,683.35 1,430.25 -0.73% -3.64%
6/21/2021 15,860.35 1,436.55 1.13% 0.44%
6/28/2021 15,722.20 1,452.50 -0.87% 1.11%
7/5/2021 15,689.80 1,495.65 -0.21% 2.97%
7/12/2021 15,923.40 1,425.75 1.49% -4.67%
7/19/2021 15,856.05 1,412.80 -0.42% -0.91%
7/26/2021 15,763.05 1,405.35 -0.59% -0.53%
8/2/2021 16,238.20 1,429.30 3.01% 1.70%
8/9/2021 16,529.10 1,414.80 1.79% -1.01%
8/16/2021 16,450.50 1,260.10 -0.48% -10.93%
8/23/2021 16,705.20 1,275.80 1.55% 1.25%
8/30/2021 17,323.60 1,317.65 3.70% 3.28%
 9/6/2021 17,369.25 1,379.60 0.26% 4.70%
9/13/2021 17,585.15 1,370.15 1.24% -0.68%
9/20/2021 17,853.20 1,346.20 1.52% -1.75%
9/27/2021 17,532.05 1,404.80 -1.80% 4.35%
10/4/2021 17,895.20 1,471.45 2.07% 4.74%
10/11/2021 18,338.55 1,572.65 2.48% 6.88%
10/18/2021 18,114.90 1,587.35 -1.22% 0.93%
10/25/2021 17,671.65 1,503.65 -2.45% -5.27%
11/1/2021 17,916.80 1,497.10 1.39% -0.44%
11/8/2021 18,102.75 1,527.60 1.04% 2.04%
11/15/2021 17,764.80 1,467.40 -1.87% -3.94%
11/22/2021 17,026.45 1,412.95 -4.16% -3.71%
11/29/2021 17,196.70 1,394.45 1.00% -1.31%
12/6/2021 17,511.30 1,387.55 1.83% -0.49%
12/13/2021 16,985.20 1,339.45 -3.00% -3.47%
12/20/2021 17,003.75 1,295.90 0.11% -3.25%
12/27/2021 17,354.05 1,377.30 2.06% 6.28%
1/3/2022 17,812.70 1,420.15 2.64% 3.11%
1/10/2022 18,255.75 1,422.15 2.49% 0.14%
1/17/2022 17,617.15 1,288.40 -3.50% -9.40%
1/24/2022 17,101.95 1,275.10 -2.92% -1.03%
1/31/2022 17,516.30 1,295.00 2.42% 1.56%
2/7/2022 17,374.75 1,153.65 -0.81% -10.92%
2/14/2022 17,276.30 1,134.35 -0.57% -1.67%
2/21/2022 16,658.40 1,048.65 -3.58% -7.55%
2/28/2022 16,245.35 1,006.25 -2.48% -4.04%
3/7/2022 16,630.45 950.05 2.37% -5.59%
3/14/2022 17,287.05 1,073.45 3.95% 12.99%
3/21/2022 17,153.00 1,055.15 -0.78% -1.70%
3/28/2022 17,670.45 1,043.90 3.02% -1.07%
4/4/2022 17,784.35 1,106.20 0.64% 5.97%
4/11/2022 17,475.65 1,092.60 -1.74% -1.23%
4/18/2022 17,171.95 856.25 -1.74% -21.63%
4/25/2022 17,102.55 841.85 -0.40% -1.68%
5/2/2022 16,411.25 817.25 -4.04% -2.92%
5/9/2022 15,782.15 735.60 -3.83% -9.99%
5/16/2022 16,266.15 812.00 3.07% 10.39%
5/23/2022 16,352.45 894.95 0.53% 10.22%
5/30/2022 16,584.30 950.30 1.42% 6.18%
6/6/2022 16,201.80 786.05 -2.31% -17.28%
6/13/2022 15,293.50 774.95 -5.61% -1.41%
6/20/2022 15,699.25 768.90 2.65% -0.78%
6/27/2022 15,752.05 779.00 0.34% 1.31%
 7/4/2022 16,220.60 822.30 2.97% 5.56%
7/11/2022 16,049.20 841.60 -1.06% 2.35%
7/18/2022 16,719.45 885.45 4.18% 5.21%
7/25/2022 17,158.25 844.65 2.62% -4.61%
8/1/2022 17,397.50 818.90 1.39% -3.05%
8/8/2022 17,698.15 828.80 1.73% 1.21%
8/15/2022 17,758.45 926.00 0.34% 11.73%
8/22/2022 17,558.90 924.00 -1.12% -0.22%
8/29/2022 17,539.45 898.15 -0.11% -2.80%
9/5/2022 17,833.35 885.75 1.68% -1.38%
9/12/2022 17,530.85 901.00 -1.70% 1.72%
9/19/2022 17,327.35 879.00 -1.16% -2.44%
9/26/2022 17,094.35 873.75 -1.34% -0.60%
10/3/2022 17,314.65 874.70 1.29% 0.11%
10/10/2022 17,185.70 851.35 -0.74% -2.67%
10/17/2022 17,576.30 840.25 2.27% -1.30%
10/24/2022 17,786.80 846.15 1.20% 0.70%
10/31/2022 18,117.15 836.40 1.86% -1.15%
11/7/2022 18,349.70 832.05 1.28% -0.52%
11/14/2022 18,307.65 794.05 -0.23% -4.57%
11/21/2022 18,512.75 782.95 1.12% -1.40%
11/28/2022 18,696.10 824.40 0.99% 5.29%
12/5/2022 18,496.60 803.85 -1.07% -2.49%
12/12/2022 18,269.00 824.15 -1.23% 2.53%
12/19/2022 17,806.80 768.45 -2.53% -6.76%
12/26/2022 18,105.30 776.90 1.68% 1.10%
1/2/2023 17,859.45 818.05 -1.36% 5.30%
1/9/2023 17,956.60 826.10 0.54% 0.98%
1/16/2023 18,027.65 802.75 0.40% -2.83%
1/23/2023 17,604.35 774.55 -2.35% -3.51%
1/30/2023 17,854.05 753.35 1.42% -2.74%
2/6/2023 17,856.50 747.80 0.01% -0.74%
2/13/2023 17,944.20 749.40 0.49% 0.21%
2/20/2023 17,465.80 737.00 -2.67% -1.65%
2/27/2023 17,594.35 791.50 0.74% 7.39%
3/6/2023 17,412.90 812.30 -1.03% 2.63%
3/13/2023 17,100.05 879.65 -1.80% 8.29%
3/20/2023 16,945.05 760.15 -0.91% -13.58%
3/27/2023 17,359.75 715.30 2.45% -5.90%
4/3/2023 17,599.15 774.70 1.38% 8.30%
4/10/2023 17,828.00 800.35 1.30% 3.31%
4/17/2023 17,624.05 784.95 -1.14% -1.92%
4/24/2023 18,065.00 791.60 2.50% 0.85%
 5/1/2023 18,069.00 808.70 0.02% 2.16%
5/8/2023 18,314.80 807.55 1.36% -0.14%
5/15/2023 18,203.40 861.05 -0.61% 6.62%
5/22/2023 18,499.35 848.10 1.63% -1.50%
5/29/2023 18,534.10 878.65 0.19% 3.60%
6/5/2023 18,563.40 1,009.80 0.16% 14.93%
6/12/2023 18,826.00 1,041.30 1.41% 3.12%
6/19/2023 18,665.50 1,117.50 -0.85% 7.32%
6/26/2023 19,189.05 1,070.35 2.80% -4.22%
7/3/2023 19,331.80 1,128.10 0.74% 5.40%
7/10/2023 19,564.50 1,167.50 1.20% 3.49%
7/17/2023 19,745.00 1,165.40 0.92% -0.18%
7/24/2023 19,646.05 1,180.60 -0.50% 1.30%
7/31/2023 19,517.00 1,143.45 -0.66% -3.15%
8/7/2023 19,428.30 1,024.35 -0.45% -10.42%
8/14/2023 19,310.15 1,078.95 -0.61% 5.33%
8/21/2023 19,265.80 1,105.85 -0.23% 2.49%
8/28/2023 19,435.30 1,101.50 0.88% -0.39%
9/4/2023 19,819.95 1,077.60 1.98% -2.17%
9/11/2023 20,192.35 1,087.75 1.88% 0.94%
9/18/2023 19,674.25 1,057.90 -2.57% -2.74%
9/25/2023 19,638.30 1,086.90 -0.18% 2.74%
10/2/2023 19,653.50 1,083.50 0.08% -0.31%
10/9/2023 19,751.05 1,156.30 0.50% 6.72%
10/16/2023 19,542.65 1,326.75 -1.06% 14.74%
10/23/2023 19,047.25 1,416.30 -2.53% 6.75%
10/30/2023 19,230.60 1,367.10 0.96% -3.47%
11/6/2023 19,425.35 1,340.85 1.01% -1.92%
11/13/2023 19,731.80 1,350.90 1.58% 0.75%
11/20/2023 19,794.70 1,441.45 0.32% 6.70%
11/27/2023 20,267.90 1,445.75 2.39% 0.30%
12/4/2023 20,969.40 1,515.85 3.46% 4.85%
12/11/2023 21,456.65 1,532.55 2.32% 1.10%
12/18/2023 21,349.40 1,502.05 -0.50% -1.99%
 WACC =We*Ke + Wd*Kd Beta = Covariance (S,M) / Variance (M)

Cost Value Weight Covariance 0.00054

11.15% #NAME? #NAME? Variance 0.0008
5.63% 201.93 #NAME? Beta 0.68
#NAME? #NAME? #NAME? Beta 0.68

= Interest Cost * (1-ETR) How to calculate BETA ?

= Rf + Beta*(Rm - Rf)
Download Data (historical data)
Int. Cost 7.60% Calculate returns
ETR 25.90% Calculate Beta
Kd 5.63%

7.16% match with inv horizon

13%
0.68
11.15%

Nifty Return (Return of marke

Year Date
1,994 31-Mar-94
1,995 31-Mar-95
1,996 31-Mar-96
1,997 31-Mar-97
1,998 31-Mar-98
1,999 31-Mar-99
2,000 31-Mar-00
2,001 31-Mar-01
2,002 31-Mar-02
2,003 31-Mar-03
2,004 31-Mar-04
2,005 31-Mar-05
2,006 31-Mar-06
2,007 31-Mar-07
2,008 31-Mar-08
2,009 31-Mar-09
2,010 31-Mar-10
2,011 31-Mar-11
2,012 30-Mar-12
2,013 28-Mar-13
2,014 31-Mar-14
2,015 31-Mar-15
2,016 31-Mar-16
2,017 31-Mar-17
2,018 28-Mar-18
2,019 29-Mar-19
2,020 31-Mar-20
2,021 31-Mar-21
2,022 31-Mar-22
2,023 27-Mar-23
Average
(S,M) / Variance (M)

Alternative Formula - Slope

storical data)

W/O debt with debt

EBIT 100 100
Int Cost 0 40
PBT 100 60
Tax @25% 25 15
PAT 75 45

fty Return (Return of market)

Close Price Rolling 10 yea Rolling 5 year CAGR

₹ 985.30
₹ 968.30
₹ 1,116.90
₹ 1,078.05
₹ 1,528.45
₹ 1,148.20 3%
₹ 1,148.20 3%
₹ 978.20 -3%
₹ 1,771.90 10%
₹ 2,035.60 6%
₹ 3,402.55 13% 24%
₹ 3,821.55 15% 27%
₹ 4,734.50 16% 37%
₹ 3,020.95 11% 11%
₹ 5,249.10 13% 21%
₹ 5,833.75 18% 11%
₹ 5,295.55 17% 7%
 ₹ 5,682.55 19% 4%
₹ 6,704.20 14% 17%
₹ 8,491.00 15% 10%
₹ 7,738.40 9% 6%
₹ 9,173.75 9% 12%
₹ 10,113.70 8% 12%
₹ 11,623.90 14% 12%
₹ 8,597.75 5% 0%
₹ 14,690.70 10% 14%
₹ 17,464.75 13% 14%
₹ 17,359.75 12% 11%
13% 14%