The document discusses the financial performance of Oberoi Hotels & Resorts for the financial year 2011-2012. Some key points: - Total revenue grew 8% to Rs. 1904 crores compared to the previous year. Earnings before interest, taxes, depreciation and amortization grew 2% to Rs. 577 crores. - Profit before tax declined slightly to Rs. 175 crores from Rs. 183 crores in the previous year. Profit after tax grew 11% to Rs. 134 crores. - Foreign exchange earnings increased significantly to Rs. 1133 crores from Rs. 875 crores in the previous year. Expenditure in foreign exchange also rose.

1. JBIMS – MFM 2nd Year Batch 1
Sambuddha Bandyopadhyay (10)
Dipesh Bhalavat (13)
Yashesh Bhatt (15)
Lawrence Cornelius (20)
Sushant Deshmane (24)
Amol Ghanekar (29)
Harshil Panchal (34)
Ashish Jain (39)
Nazirullah Khan (50)
Amit Mahadik (60)

4. Agenda
 Learning The Financials of Oberoi Hotels Group.
 Effects of Financials on Company.
 Impact of IFRS on Oberoi.

5. Introduction
 EIH Limited, under the aegis of The Oberoi Group, operates
29 hotels in five countries under the luxury ‘Oberoi’ and five-
star ‘Trident’ brands
 Oberoi Hotels & Resorts is synonymous the world over with
providing the right blend of service & luxury
 Internationally acclaimed for all-round excellence and
unparalleled services, Oberoi hotels and resorts have received
innumerable awards and accolades
 The Group’s commitment to excellence, attention to detail and
personalized service has ensured a loyal list of guests and
accolades in the worldwide hospitality industry.
 Listed in major stock exchanges like NSE & BSE with symbol
“EIHOTEL”

6. Shareholding pattern:
Pattern of Shareholding as on
31st March, 2012
Percentage of
Category Shareholding
(%)
Promoter Holding 75.00
Banks, Financial
Institutions and
0.02
Insurance
Companies
FIIs 14.40
Private Bodies
3.67
Corporate
Indian Individuals 6.71
NRIs/OCBs 0.20

7. Financials Performance for Group
Rs. Million FY12 FY 11
Total Revenue 1904.54 1763.42
EBIDTA 576.63 564.84
PAT 133.55 120.17

8. Analysis Of Financial Performance
 Revenue from operations:
 Results :- Growth of 8% in FY 2011- 12; Rs. 1904
million in 2011-12 vs Rs. 1763 million in 2010-11.
 Reason The increase is mainly attributable to growth
in Travel and Tourism sector.
 Cost of material consumed:
 Results:- Growth of 15% in FY 2011- 12 154
million(s) – 2011-12 VS `134 million(s) – 2010-11. .
 Reason: The increase is mainly attributable to
increase input cost and import duties that are not
fully absorbed through pricing.

9. Analysis Of Financial Performance
Contd…
 Employee Cost :
 Results :- 333.15 million(s) in FY 2011-12 as compared to
318.72 million(s) in FY 2010-11, an increase by 15 million(s)
in absolute terms.
 Reason The increase mainly relates to normal yearly
increments, performance based payments, impact of wage
revisions and partly due to increased head counts.
 Manufacturing and Other Expenses:
 Results:- These expenses have increased to 865 million(s)
from 770.56 million(s) in FY 2010-11 .
 Reason: The increases are mainly driven by volumes, size of
operations and also include inflation impact.

10. Analysis Of Financial Performance
Contd…
 Other Income :
 Results :Decreased to 28.76 million(s) from 29.60
million(s) in FY 2010-11
 Reason: The decrease is attributable to decrease in
Interest on Income Tax Refund amount
 Consolidated Profit Before Tax (PBT):
 Results: Decreased to 175.28 million(s) in FY 2011-
12 compared to 182.86 in FY 2010-11.
 Reason: mainly attributable to a slow growth rate in
tourisom industry and absence of significant
economic reforms.

11. Analysis Of Financial Performance
Contd…
 Profit before Exceptional Item, Depreciation and
amortisation, Interest and Tax
 Results: Decreased from 182.86 million(s) in FY
2010-11 to in 175.28 million(s) FY 2011-12
 Finance cost
 Results :increased by 20.0% to 274.11 from 254.53 of
FY 2010-11
 Reason: steep depreciation of rupee against all
major currencies, Goodwill Impairment and other
costs are in respect of subsidiary companies

12. Analysis Of Financial Performance
Contd…
 Long term borrowings:
 Results : including the current portion increased to
1203.28 million(s) from 1137.08 million(s).
 Reasons : The increase in current maturities of Long
term borrowings is attributable to Convertible
Alternative Reference Securities (CARS), which will be
due for redemption and fixed deposits.
 Trade payables:
 Results: were 30.34 million(s) as at March 31, 2012, as
compared to `34.03 million(s) as at March 31, 2011.
 Reason: The decrease is attributable to volumes.

13. Analysis Of Financial Performance
Contd…
 Other current liabilities:
 Results :were 161.55 million(s) as at March31, 2012
as compared to 454.81 million(s) as at March 31,
2011.
 Reason: The decrease is mainly due to decrease in
current maturities of long term debt.
 Fixed Assets:
 Results: The decrease (net of depreciation) in the
tangible assets of from 2916.86 million(s) to 2845.75
million(s) as at March 31, 2012.
 Reason: No significant establishment of new
capability for new product plans of the Company.

14. Analysis Of Financial Performance
Contd…
 Deferred tax assets:
 Results: Gone down to 318.49 million(s) as at March
31, 2012 from 373.59 million(s) as at March 31, 2011.
 Reason: The decrease is consequent to unabsorbed
depreciation.
 Cash and bank balances:
 Cash and bank balances were 103.26 million(s), as at
March 31, 2012 compared to 87.88 million(s) as at
March 31, 2011.

15. Analysis Of Financial Performance
Contd…
 Current Assets:
 Results: increased to 548.20 million(s) as at March
31, 2012 from 488.86 million(s) as at March 31, 2011.
 Inventories:
 Results:72.91 million(s) As of March 31, 2012 as
compared to 74.01 million(s) as at March 31, 2011.
 Reasons: The decrease is mainly attributable to
volumes slow growth.
 Trade Receivables (net of allowance for doubtful debts):
 Results: were 163.80 million(s) as at March 31, 2012,
representing an increase of 149.92 million(s)
 Reasons: which was attributable to increase in sales.

16. Analysis Of Financial Performance
Contd…
 Short term loans and advances :
 Results: Increased from 208.41 million(s) as at March
31, 2011 to 246.47 million(s) as at March 31, 2012.
 Reasons: The increase is attributable to an increase in
VAT, other taxes recoverable statutory deposits and
other dues from government.
 Reserves:
 Results: Increased from 994.47 million(s) as at March
31, 2011 to 929.21 million(s)
 Reasons: increase mainly due to strong performance
on a consolidated basis as explained above.

17. Final Analysis
 Financial and Operating Performance:
• During the Financial Year 2011-2012, the Company’s Total Revenue
was Rs. 1904.54 million as compared to Rs. 1763.42 million in the
previous year. This represents an increase of 8%.
• The Earnings before Interest, Depreciation, Tax and Amortization
(EBIDTA) were Rs. 576.63 million as compared to Rs. 564.84 million
in the previous year, which is an increase of 2%.
• The Profit before Tax and Exceptional Item was Rs. 175.28 million as
compared to Rs. 182.86 million in the previous year.
• The Profit after Tax was Rs. 133.55 million as compared to Rs. 120.17
million in the previous year.
 Foreign Exchange Earnings:
• During the Financial Year 2011-2012, the Foreign Exchange earnings
of the Company amounted to Rs. 1133.13 million as against Rs.
875.16 million in the previous year. The expenditure in Foreign
Exchange during the FY 2011-12 was Rs. 63.65 million as compared to
Rs. 47.44 million in the previous year.

18. Final Analysis (Contd…)
 The Cash flow from Operating Activities:
A reduction in cash inflow has been observed in the FY 2011-12 which
was Rs. 543.48 million compared to Rs. 562.69 million in FY 2010-11.
 The Cash flow from Investing Activities:
Cash outflow has been reduced to a large extent from Rs. 180.72 million
in FY 2010-11 to Rs. 83.14 million majorly driven by sale of Fixed Assets
and purchase of Investments. A cash inflow of Rs. 40.77 million is
registered in FY 2011-12 compared to a mere Rs. 2.49 million in the
previous financial year by selling some of its fixed assets which were of
not much use. Also, no major purchase of investments done in the FY
2011-12 as compared to Rs. 84 million in previous year.
 The Cash flow from Financing Activities:
21% increase in cash outflow has been recorded in FY 2011-12 as the
outflow was Rs. 449.29 million in FY 2011-12 as against Rs. 372.58
million in previous year. Net increase in Cash and Cash Equivalents
from beginning of the year to end of the year is Rs. 11.04 million.

19. Net Results In A Nut Shell:-
 LIABILITIES:
• Shareholder’s Funds:
• No major deviation observed as Rs. 994 million recorded
as against Rs. 929 million in FY 2010-11
• Non-Current Liabilities:
• A 9.34% rise seen in non-current liabilities over last
financial year as it increased to Rs. 1463 million from Rs.
1338 million
• Current Liabilities:
• Reduced from Rs. 1565 million to Rs. 1397 million due to
major decline in other liabilities
 ASSETS:
• 12% increase in current assets has been registered in FY 2011-
12 whereas no significant change is observed in non-current
asset.

20. Impact Of IFRS On East India Hotels
(EIH) - Associated Hotels Limited
(A member of The Oberoi Group)

21. S.N. Heading IFRS IAS EIH Hotel’s policy Impact
1 Components of Following are Companies Act requires 1. Balance Sheet, Need to prepare
Financial components that preparation of: 2. Profit and Loss SOCIE and Statement
Statements together are considered 1. Balance Sheet, Account, and of Financial Position
as a complete set of 2. Profit and Loss Account, and 3. Notes to as well.
financial statements. 3. Notes to Accounts. Accounts.
1. Statement of Financial 4. Cash Flow
Position (Balance sheet), As per IAS 3, Level 1 enterprises Statement
2. Statement of are required to prepare a Cash
Comprehensive Income / Flow Statement using the direct
Income Statement (P&L or indirect method. SEBI
A/c.), mandates the use of indirect
3. Statement of Changes method for listed companies.
in Equity (SOCIE),
4. Statement of Cash
Flows,
5. Notes to A/c. and
6. Statement of Financial
Position
2 Consolidated IFRS considers It is not mandatory to prepare Both Standalone No Impact.
Financial Consolidated Financial Consolidated Financial and Consolidated
Statements Statements as the Statements under AS 21. Financial
General Purpose Statements are
Financial Statements. SEBI requires from listed prepared.
companies to submit
Consolidated Financial
Statements. Banking
Companies are also required to
prepare Consolidated Financial
Statements.

22. S.N. Heading IFRS IAS EIH Hotel’s Policy Impact
3 Provisions – Provision are discounted to Discounting of provisions is not Provisions are made at Provisions need to made
General Present value where the effect of permitted book value. at discounted value,
the time value of money is provisions to increase,
material profits to decrease.
4 Proposed Liability for dividends declared to Dividends are recognised as an Dividend as liability is Dividend to be
Dividend holders of equity instruments are appropriation from profits and recognised as an recognized as liability in
recognised in the period when recorded as liability at the appropriation from the year of declaration
declared balance sheet date, if declared profits and recorded and not the year for
subsequent to the reporting as liability at the which it is paid.
period but before approval of the balance sheet date,
financial statements.

23. S.N. Heading IFRS IAS EIH Hotel’s Policy Impact
5 Forex Rate a. Assets and liabilities, Translation depends on the Standalone: Transactions in forex The exchange differences
Changes translated at the closing classification of that operation as are recorded at the rates will be accumulated in
rate. integral or non integral. prevailing on the date of the 'foreign currency
b. Income and expenses Integral Ops : monetary assets transaction. Forex monetary translation reserve'
translated at exchange translated at closing rate; non-monetary assets and liabilities translated at instead of charging it to
rates at the date of items are translated at historical rate if year end exchange rates. Exchange P&L.
transactions; and valued at cost and at closing rate if differences arising on settlement
c. All resulting exchange valued on other valuation basis and of transactions and translation of
differences should be income and expense items are monetary items other than
accumulated in foreign translated at historical/ avg. rate. specified ones are recognized as
currency translation Exchange differences are taken to the income or expense in the year in
reserve until the statement of profit and loss. which they arise.
disposal of the
investment.
6 Forex a. Assets and liabilities, Non-integral operations : closing rate Consolidated : Assets and Income and expenses to
Rate translated at the closing method should be followed (i.e. all liabilities translated at rates be translated at
Changes rate. assets and liabilities are to be translated prevailing on the balance sheet exchange rates at the
b. Income and expenses at closing rate while profit and loss date. Income and expenditure date of transactions
translated at exchange account items are translated at translated at the average exchange instead of average
rates at the date of actual/average rates). rates for the year/month. exchange rates for the
transactions; and The resulting exchange difference is Exchange differences arising in year/month.
c. All resulting exchange taken to reserve and is recycled to profit case of integral foreign operations
differences should be and loss on the disposal of the non- are recognised in the Profit and Exchange differences
accumulated in foreign integral foreign operation. Loss Statement and exchange arising in case of all
currency translation differences arising in case of non foreign operations to be
reserve until the integral foreign operations are recognised in the foreign
disposal of the recognised in the Group’s currency transaltion
investment. Translation Reserve classified rserve instead of Profit
under Reserves and surplus. and Loss Statement.

24. S.N. Heading IFRS IAS EIH Hotel's Policy Impact
7 Consolidated All entities have to Consolidated Financial As a listed Company No impact
Financial prepare Consolidated Statements are mandated only with subsidiaries,
Statements Financial Statements by the regulator i.e. Securities EIH prepares both
under IFRS Exchange Board of India (SEBI) Standalone and
for listed companies Consolidated
Financial
Statements.
8 Accounting for Parent’s investment in a Investments in subsidiary Long term Investments if valued
Investment in subsidiary be accounted should be accounted for investments are at Book value can
Subsidiary for in the parent’s in accordance with AS 13, stated at cost less fetch higher value
separate financial Accounting for other than than at cost
statements (a) at cost, or Investments, which is cost as temporary valuation, which will
(b) as available-for-sale adjusted for any diminution diminution in value, lead to creation of
(i.e. Market Value) other than temporary in value if any. revaluation reserve.
of those investments
9 Contingencies Any events after balance Such events are required to be No such events In case any such
and Events sheet date of such nature disclosed in the report of the occurred / events occurs the
Occurring After that disclosure of them is approving authority, i.e. the reported. same needs to be
the Balance required to prevent the board report reported in the
Sheet Date financial statements from financial statements
being misleading, the itself along with is
entity should disclose financial impact.
nature of event and
estimate of its financial
effect.

25. S.N. Heading IFRS IAS EIH Hotel's Impact
Policy
10 Accounting for Initial direct cost Financial Lease : initial Finance lease : Increase in book
lease incurred by lesser to be direct cost incurred by Assets are value of leased
included in lease lesser to be either charged recognized at assets as such
receivable off at the time of the lower of the costs will be
amount in case of incurrence or to be fair value of the grouped in asset
finance lease and in the amortized over the lease leased assets at value instead of
carrying amount of the period. inception and charging it to
asset in case of operating Operating Lease : Initial the P&L, so profits
lease recognized as an direct costs incurred present value of too will be higher
expense over the lease specifically to earn minimum lease however
term on the same basis revenues from an payments. adjusted to
as the lease income. operating lease are either Operating lease increased
deferred and allocated to : Such leased depreciation on
income over the lease term assets are not leased assets.
in proportion to the recognized on
recognition of rent income, the Company’s
or are recognized as an Balance Sheet.
expense in the statement Payments under
of profit and loss in the operating leases
period in which they are are recognized in
incurred. the Profit and
Loss Statement
on a straight-line
basis over the
term of the

27. The Indian Hotels Company
(IHCL)
• Founder of the Tata group : Jamsetji Tata,
• The company opened its first property :
The Taj Mahal Palace, in Bombay in 1903.
• The Taj, a symbol of Indian hospitality, completed its
centenary year in 2003.
• Taj Hotels Resorts and Palaces comprises 112 hotels in
53 locations
a) 25 Ginger hotels across India
b) 16 international hotels - Maldives, Malaysia,
Australia, UK, US, Bhutan, Sri Lanka, Africa and the
Middle East.

33. FINANCIAL HIGHLIGHTS
Keywords 2011-12 2010-11
` crores ` crores
Gross Revenue 1,858 1,737.14
Profit Before Tax 229.92 221.45
Profit After Tax 145.35 141.25
Dividend 75.95 75.95
Retained Earnings 170.98 161.38
Total Assets 7,363.98 6,720.24
Net Worth 3,367.81 3,228.91
Borrowings 2,679.38 2,341.44
Debt : Equity Ratio 0.80:1 0.73:1
Net Worth Per Ordinary Share of ` 1/- each - In Rupees * 42.70 40.88
Earnings Per Ordinary Share (Basic & Diluted) - In Rupees 1.91 1.93
Dividend Per Ordinary Share - In Rupees 1.00 1.00
Dividend 100% 100%
* Excludes Warrants of ` 124.37 crores

34. INCOME
• The total income for the year ended March 31, 2012, at
1,858 crores was higher than that of the previous year by
8%.
• Room Income was higher than the previous year by 6%;
Food & Beverage (F&B) income also increased by 11%
over the previous year, enabled by a similar growth in
banqueting income.

35. DEPRECIATION AND FINANCE
COSTS
• Depreciation for the year was higher due to incremental
depreciation on the newly opened Vivanta by Taj -
Yeshwantpur, Bengaluru, as also on account of Taj
Falaknuma Palace, Hyderabad, being operational for the
full year and the ongoing renovations at the hotels.
• Finance Costs for the year ended March 31, 2012, net of
currency swap gains at ` 111.99 crores were lower than
the finance costs of the preceding year by ` 34.50 crores,
resulting from interest rate restructuring and increase in
capitalisation of interest on hotel projects under
construction.

36. PROFITS
• Profit before Tax at 341 crores was higher
than the previous year by 4%, whereas
Profit after Tax at 148 crores was higher by
3%.

37. CONSOLIDATED FINANCIAL
RESULTS
• The consolidated turnover of the Company for the year ended March 31, 2012
aggregated to ` 3,503.65 crores as against ` 2,932.20 crores for the previous year.
Profit after Tax aggregated to ` 3.06 crores for the year as against the Loss after Tax
of ` 87.26 crores for the previous year.
• The consolidated turnover increased by 19% on account of launch of new hotels
during the year by the Company, as also due to the change in status of certain
companies from associates to subsidiaries. The Company, during the year, had
increased its stake in Piem Hotels Limited, an associate; resultantly it has become a
subsidiary with effect from May 25, 2011. The foregoing has also resulted in certain
other companies’ status being changed to subsidiary. Among the Company’s domestic
subsidiaries, Piem Hotels Limited and Roots Corporation Limited improved their
turnover. The Company’s subsidiary in the flight catering segment also reported
growth in turnover as well. However, its profitability has been marginal due to the
continued turbulence in the aviation sector and a highly competitive environment.
The Company’s US hotels have shown marginal improvement in occupancies and
ARRs over the previous year, notwithstanding the continuing weakness in the US
economy. The Company is putting all its endeavours to turnaround the US portfolio
and make it profitable in the long term. The Company’s UK subsidiary continued to
register a good performance in line with the previous year.

38. DIVIDEND
• The Board of Directors are pleased to recommend a
dividend of 100% for the year ended March 31, 2012.

39. FIXED DEPOSITS
• The outstanding amount of Fixed Deposits placed with
your Company amounted to 286.00 crores. (Previous
year 354.18 crores) excluding 1.75 crores (previous year
0.28 crores), which remained unclaimed by depositors as
on March 31, 2012. Your Company has stopped
accepting/ renewing deposits from the general public
and shareholders.

40. CORPORATE GOVERNANCE
• As required by Clause 49 of the Listing Agreement with
the Stock Exchanges, the report on Management
Discussion and Analysis, Corporate Governance as well
as the Practising Company Secretary’s Certificate
regarding compliance of conditions of Corporate
Governance, forms part of the Annual Report.

41. BUSINESS OVERVIEW
• Global economic recovery is losing traction due to continuing Euro zone debt
crisis and the resultant austerity measures being taken by th
• Domestically, the state of the economy is a matter of growing concern with
slowing economy, persistently high inflation, uncertain political environment and
depreciation of the Indian Rupee weakening the overall economic sentiment of the
country.
• The International tourists arrival worldwide has grown to 980 million in 2011,
4.4% above 2010 and is forecasted to grow at a moderate pace in 2012. Emerging
economies of South Asia, South-East Asia and South America led the tourism
growth with 12% increase in International tourists arrivals.
• In the year 2011, the tourism sector in India witnessed a growth as compared to
2010. The Foreign Tourist Arrivals in India during 2011 were 6.29 million which
translates to a 9% growth over the previous year. Foreign Exchange Earnings from
tourism grew from ` 64,889 crores during 2010 to ` 77,591 crores in 2011,
registering a growth of 19.6%. The domestic tourist traffic is also estimated to
have increased by approximately 9% to 804 million during 2011.
• The Taj Group launched 5 new Vivanta by Taj hotels during the year at Srinagar,
Yeshwantpur - Bengaluru, Coimbatore, Begumpet - Hyderabad and Bekal -
Kerala. Ginger Hotels currently has a portfolio of 24 hotels with a room inventory
of approximately 2345 rooms. Projects for new Ginger hotels are at various stages
of construction in Bengaluru, Noida, Jaipur, Faridabad, Greater Noida,
Chandigarh and Amritsar. The inventory of the Taj Group of Hotels now stands at
112 hotels with 13,629 rooms. e Euro zone countries.

43. Investment Valuation Ratios
Particulars Ratio Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Operating Profit Per Share 27.96 27.34 24.25 26.93 32.09
(Rs)
IHC 7.19 6.18 5.64 7.72 14.96
Particulars Ratio Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH 100.43 92.44 79.47 85.01 94.53
Net Operating Profit Per
IHC Share (Rs) 45.2 37.69 34.85 37.13 48.44
Particulars Ratio Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Free Reserves Per Share -- 34.24 32.38 32.86 30.82
(Rs)
IHC -- 25.67 26.38 35.22 31.97

44. Profitability Ratios
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Operating Profit Margin(%) 27.84 29.57 30.52 31.67 33.94
IHC 15.89 15.8 15.79 20.79 30.88
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Gross Profit Margin(%) 20.64 21.74 22.28 23.76 25.53
IHC 8.46 7.84 7.12 13.77 25.14
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
Return On Capital
EIH Employed(%) 13.26 12.32 10.22 11.49 13.39
IHC 5.71 3.86 3.02 5.51 14.04
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Return On Net Worth(%) 11.68 9.6 2.65 7.88 10.58
IHC 0.1 -3.31 -5.71 0.39 15.84

45. Liquidity and Solvency Ratios
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Current Ratio 0.59 0.43 0.49 0.47 0.41
IHC 0.56 0.64 1.08 0.63 0.44
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Quick Ratio 0.98 0.6 0.57 0.51 0.57
IHC 0.52 0.63 0.96 1.59 1.17
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Debt Equity Ratio 2.18 2.49 2.74 2.77 2.98
IHC 1.1 1.66 1.89 1.51 1.54
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Long Term Debt Equity Ratio 1.69 1.52 1.86 1.9 1.78
IHC 1.1 1.66 1.86 1.04 0.85

46. Debt Coverage Ratios
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Interest Cover 1.58 1.6 1.2 1.4 1.81
IHC 1.69 1.1 0.69 1.9 3.66
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Total Debt to Owners Fund 2.18 2.49 2.74 2.77 2.98
IHC 1.1 1.68 1.89 1.51 1.54
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
Financial Charges Coverage
EIH Ratio 2.09 2.14 1.63 1.85 2.41
IHC 2.89 1.77 1.36 2.72 4.42

47. Management Efficiency Ratios
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Inventory Turnover Ratio 26.98 109.53 111.5 91.49 89.49
IHC 39.75 48.91 98.79 98.29 108.67
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Debtors Turnover Ratio 12.45 13.47 15.49 12.64 10.67
IHC 14.13 14.05 13.16 13.93 14.15
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Investments Turnover Ratio 26.98 109.53 111.5 91.49 89.49
IHC 39.75 119.42 98.79 98.29 108.67
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Fixed Assets Turnover Ratio 0.45 0.41 0.36 0.39 0.44
IHC 0.48 0.47 0.44 0.51 0.64
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Total Assets Turnover Ratio 0.67 0.52 0.43 0.46 0.57
IHC 0.53 0.4 0.37 0.35 0.52

48. Cash Flow Indicator Ratios
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Dividend Payout Ratio Net Profit 56.71 61.04 137.86 46.19 60.35
IHC 2,884.64 -- -- 815.08 37.75
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Dividend Payout Ratio Cash Profit 26.05 24.21 22.37 16.67 22.61
IHC 34.19 62.74 108.31 50.52 25.64
Particulars Ratios Mar'12 Mar'11 Mar'10 Mar'9 Mar'8
EIH Earning Retention Ratio 31.12 40.67 1.61 56.37 49.74
IHC -231.84 -- -- -83.18 60.92