Indian Telecom Sector
Table of Contents 1. INTRODUCTION 2 2. INDUSTRY 2 3. MAJOR MACROECONOMIC ENVIRONMENT 4 4. MOTIVATION TO CHOOSE THIS SECTOR 5 5. ACCOUNTING POLICIES 5 5.1 Accounting Policies of Cipla 5 5.2 Comparison of accounting policies of Cipla with other players 8 6. ANALYSIS OF RATIOS 11 6.1 Liquidity Ratios 11 6.2 Solvency Ratios 13 6.3 Profitability Ratios 15 6.4 Efficiency or Turnover Ratios 19 7. DUPOINT ANALYSIS 22 8. VALUATION 23 9. CONCLUSION 24 10. REFERENCES 25
1. INTRODUCTION
The project aims at financial statement analysis of companies in the pharmaceutical sector in Indian industrial space. While analyzing the pharmaceutical sector, the focus of the project is on the Indian as well as multinational companies operating in the pharmaceutical sector. In project the analysis is being performed on four companies i.e. Cadilla, Cipla, Pfizer, and Lupin. These companies are selected as the broad representative of the pharmaceutical sector with cipla representing the large market share player, Cadilla as a smaller player, Lupin as a medium market share player and Pfizer India representing a multinational company.
Accounting policies of Cipla have been examined in depth. Accounting policies of other players have been compared with Cipla. The ratio analysis performance of Cipla has been analyzed over the past five years as well as over competitors.
The key financial ratios used are: * Liquidity Ratios * Solvency Ratios * Profitability Ratios * Turnover Ratios * Market Ratios * Dupont Analysis
All the quantitatively analysis has been done supported with adequate interpretation and conclusion. Time series and competitor analysis has also been done.
2. INDUSTRY
The pharmaceutical industry of India including both imports and exports was worth around $29.9 billion in 2011-12 financial year. The domestic formulation market was around $11.6 billion. In value term, it constitutes only
1. INTRODUCTION
The project aims at financial statement analysis of companies in the pharmaceutical sector in Indian industrial space. While analyzing the pharmaceutical sector, the focus of the project is on the Indian as well as multinational companies operating in the pharmaceutical sector. In project the analysis is being performed on four companies i.e. Cadilla, Cipla, Pfizer, and Lupin. These companies are selected as the broad representative of the pharmaceutical sector with cipla representing the large market share player, Cadilla as a smaller player, Lupin as a medium market share player and Pfizer India representing a multinational company.
Accounting policies of Cipla have been examined in depth. Accounting policies of other players have been compared with Cipla. The ratio analysis performance of Cipla has been analyzed over the past five years as well as over competitors.
The key financial ratios used are: * Liquidity Ratios * Solvency Ratios * Profitability Ratios * Turnover Ratios * Market Ratios * Dupont Analysis
All the quantitatively analysis has been done supported with adequate interpretation and conclusion. Time series and competitor analysis has also been done.
2. INDUSTRY
The pharmaceutical industry of India including both imports and exports was worth around $29.9 billion in 2011-12 financial year. The domestic formulation market was around $11.6 billion. In value term, it constitutes only
References: * http://www.moneycontrol.com/stocksmarketsindia/ * http://www.crisilresearch.com * http://www.cipla.com * http://www.lupinworld.com * http://www. cadilahealthcare.com * http://www.pfizerindia.com * Annual reports of Cipla, Cadila, Lupin and Pfizer * Capital line database