PREFACE

As a part of the course curriculum, the first year M.B.A. students are required to prepare a financial project report. The objective behind preparing this project report is to relate the management subjects taught in the classroom to their practical application.
The preparation of this project report is based on financial analysis of annual reports of 5 consecutive years for a public limited company using Ratio Analysis, Common Size Statements and other financial tools.
The scope of the project report is limited to the study of the financial position of the company on the basis of the published data available.
Our work in this project is, therefore, a humble attempt toward this end.
In spite of our best efforts there may be errors of omissions and commissions, which may please be excused.

Acknowledgement

There is always a sense of gratitude, which one express to others for the helpful and needy services they render during all phase of life. I too would like to express my gratitude towards all those who have been helpful in getting this mighty task of project report writing.
I would like to express my sincere thanks to my faculty guide Prof. Nikunj Patel and Prof. Ritesh Patel for providing inspiration and encouragement.
We are also very thankful to the other teaching & non-teaching staff of the institute for extended their help; co-operation and support which have greatly ease our work and made our report unproblematic.
At Last but not least we would like to thank all those who helped directly or indirectly for preparation of this financial report, their efforts have not gone unnoticed.
Thanks for being there.

Jitesh Agrawal Sunny Teelani

EXECUTIVE SUMMARY This report containing in three parts: - Economic Analysis, Industry Analysis & Company Analysis. We