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CASH FLOW STATEMENT
ANALYSIS OF
Submitted by- Group 3, Sectio !, M!A "#$%-$&
Group Member'- Arcc(it M)t(ur SM!A$%#*+
S()'() )poor SM!A$%#.*
/)rieet) Si0( SM!A$%#%"
Sumit A(u1) SM!A$%#&.
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TABLE OF CONTENTS
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O2E2IEW OF THE COM/ANY
About Comp)y4
Tata Teleservices (Maharashtra) Limited (TTML) provides basic and cellulartelecommunication services. As of March 31, 2013, the ompan! held t"o unified
access (basic and cellular) service licenses (#A$L), one for Mumbai $ervice Area
and another for Maharashtra and %oa. The ompan! provides telecommunication
services usin& code division multiple access ('MA) technolo&!&lobal s!stem
for mobile communications (%$M) technolo&!. Tata Teleservices is a ational
*nternet $ervice provider licensee and offers a ran&e of *nternet+related services,
includin& di&ital subscriber lines, leased lines and dial+up *nternet access. As of
March 31, 2012, it offers %$M service in - to"ns and 'MA services in 1,1-1
to"ns in the $tates of Maharashtra and %oa, throu&h its telephone echan&es.
Ye)r o Ye)r per5orm)ce o5 T)t) Te6e'er7ice' 8M)()r)'(tr)9 Limited-
(Tatateleservices.com, 2013)
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FINANCIAL HIGHLIGHTS
Period Ending:Mar 31,
2013Mar 31,
2012Mar 31,
2011Mar 31,
2010
Total Revenue (In Cr) 268555 25!"4" 315!8" 23!#45$ro%% &ro't (In Cr) 144328 14""26 13"!63 112"8"
Oeratn* In+o,e (InCr)
-658"" -51"55 4## -31"##
Net In+o,e (In Cr) -658"" -51"55 4## -318!
.urn* 2!13/ revenue% 0ro, tele+o,,un+aton %erv+e% n+rea%e to R%2/6!816 Crore% (revou% ear R%2/ 4"!25 Crore%) T% revenue *rot a%lar*el rven n+rea%e n revenue 0ro, $S Serv+e% Oter n+o,e
n+rea%e to R%""3# Crore% (revou% ear R%3"22 Crore%)
2!1!-11 2!11-12 2!12-13
-"!!
-6!!
-5!!
-4!!-3!!
-2!!
-1!!
!
1!! 4##
-51"55
-658""
Net Income (INR Crores)
Financial year
Net Income(INR Crores)
Sn+e *er revenue% are o7%et +ontn*ent lalte% an n+rea%entere%t uren/ Co,an 0a+e Net lo%%e% n la%t to +on%e+utve 'nan+alear% (51"55 +rore% n 2!11-12 an 658"" +rore% n 2!12-13)
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/eriod Edi04 M)r 3$, "#$3 M)r 3$, "#$" M)r 3$, "#$$ M)r 3$, "#$#
Total Assets (*n rs) /020.3 /0--.0 -./1 -.-1
Total Liabilities (*n rs) 13.13 233.02 ///.0 0.
Total 4uit! (*n rs) +1-2. +1133.- +/1/.3 20.3/
Earnings e!ore Interest, "e#reciation, $a%ation and &morti'ation(EI"$&*)
!
2!!
4!!
6!!
8!!
1!!!
12!!
14!!
486835#3254!56
11543#
548835!!63
EI$"&(INR Crores)
EBIT.A
+ears
EI$"&(INR Crores)
.urn* 2!12-2!13/ EBI.TA a% R%5!!63 Crore% (revou% ear R%54883Crore%) EBIT.A ,a+te +ontn*ent lalte% an e+rea%e n te2!12-13 'nan+al ear 8"8
&BT er0or,an+e ln9e to *er ntere%t +o%t%
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-2!!
!
2!!
4!!
6!!
8!!
1!!!
28842228#
8!!61
2586
-63"2
Cas Pro-t(INR crores)
Ca% &ro't(INR +rore%)
Financial +ear
Cas Pro-t(INR Crores)
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Idu'try A)6y'i'-
A o7er7ie: o5 Idi) Te6ecom Idu'try-
*ndia is the fastest &ro"in& telecom mar5et net onl! to hina. *t can be
divided in a total of 22 telecom circles "ith ma6or 7rivate pla!ers such as
8odafone, *dea, Aircel, Airtel, 9eliance, and Tata etc. All these companies have a
pan *ndia license for 2% spectrum in -00, 100 M:; band i.e. the! have a #nified
Access $ervices License (#A$L) and hence a substantial customer base, "ith
infrastructure and interoperabilit! aspects catered for. These companies alread!
have 2%, 3% and % spectrum of minimum 1. M:; each.
Idi) Te6ecommuic)tio idu'try, "ith about 12./ million mobile phone
connections (March 2013), is the third lar&est telecommunication net"or5 in the
"orld and the second lar&est in terms of number of "ireless connections.
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Idi) Te6ecom St)t'-
The number of telephone subscribers in *ndia increased to -0-.03 Million at
the end of $eptember 2012 from 10-.0 Million in Au&ust +2012, thereb!
re&isterin& a hi&hl! &ro"th rate. ?ith this, the overall Tele+densit! in *ndia reaches
13.0 "hile broadband subscriber reaches to .21 million. The set tar&et of 00million telephones b! the end of 2010 has been achieved b! $eptember 2012.
T(e m)i 'er7ice pro7ider' i t(e Idi) te6ecommuic)tio 'er7ice )re )'
5o66o:' -
$tate o"ned companies li5e + 8$L, @$L and MTL.
7rivate *ndian companies li5e + 9eliance *nfocomm and Tata Teleservices.
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($ource *@
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)tio A)6y'i'
R&$I. &N&/+I
Ratio &nalysis
+ear2013 2012 2011 &nalysis
OCF:%ale% rato 11131!6
1"32
R% 1113 an R% 1!61 o0 oeratn
ever %ale% o0 R% 1!!
FCF:OCF rato -6#36
-
6!1
2
-
2"2!
#
Te +a% ;o re,ann* e+o,e%
+o,an to u%e 0or e
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Te Sort ter, an Cae< +overa*e rato% 0or te ear 2!1!-11 % !8 an
(!2") + %tate% tat te +a% *enerate 0ro, te oeratn* a+tvte% %
=ute le%% a% +o,are to te Sort ter, et an Catal e
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CASH FLOW STATEMENT "#$#-"#$3
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Partic4lars
201052011Rs inCrores
201152012Rs inCrores
201252013Rs inCrores
Cas >o?s !rom o#erating acti@ities
Net Pro-t (/oss) e!ore ta% o? !rom -nancing acti@ities
&ro+ee% 0ro, I%%ue o0 Sare%&ro+ee% 0ro, Lon* ter, orron*% 6"#25 3!62#! 5!414
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(Tatateleservices.com, 2013)
2!12-2!13 2!11-2!12 2!1!-2!11
-1!!!
-8!!
-6!!
-4!!
-2!!
!
2!!
4!!
6!!
8!!
2#8"#3""12
2318
-5!6!5
-68533
-85825
158!3
3"14#
6"815
88"313"#6
"468
Cas Flo? &cti@ities(In Crs)
Ca% Fro, Oeratn* A+tvte%
(In Cr%)
Ca% Fro, Inve%tn* A+tvte%
(In Cr%)
Ca% Fro, Fnan+n* A+tvte%
(In Cr%)
Ca% G Ca% E=uvalent% at
te en o0 te ear (In Cr%)
INFERENCES AN. SH$$ESTIONS
INFERENCE
Oeratn* n+o,e % n+rea%n* over te ear% ut 0a+n* net n+o,e
lo%% ue to * oeratn* e
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Co,an a% ne*atve net ort o0 3/61434 at te en o0 F 2!12
+ ro%e to 4/2"311 at te en o0 F 13 tan9% to lo%% o0 658"" n2!12-2!13
?ea9 er0or,an+e % attrute to n+rea%e +o,etton n te
rele%% teleon nu%tr an a 0all n revenue% 0ro, t% C.A
%erv+e%
No ven% %trute ue to lo%%e%
DDE$I.N
Co,an %oul loo9 0orar 0or a ,er*er t oter tele+o,
+o,ane% to avo 0urter lo%%e%
Tata Tele%erv+e% are alrea n tal9% t Nora-a%e Telenor an
ala%a% a
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+lo%e on t% lo%% ,a9n* C.A %erv+e% an 0o+u% onl on $S
Serv+e%
Tr ne*otatn* 0or loer ntere%t rate t an9% 0or orron*%
.on%e te +o,an oeraton% an %ell o7 a%%et% to *enerate
,one
REFRENCES AN. BIBLO$RA&
Batta+ara/ S 2!13 Tata Tele in big trouble: May sack 1,000
employees to prevent DoCoMo's exit JonlneK Avalale at
tt::'r%to%t+o,:u%ne%%:tata-tele-n-*-troule-,a-
%a+9-1!!!-e,loee%-to-revent-o+o,o%-e
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Inve%tn*+o, 2!13 Tata Teleservices Ma!aras!tra" #t$ Cas!
%lo& TTM# Stock ( )nvesting*com JonlneK Avalale at
tt::nve%tn*+o,:e=ute%:tata-tele%erv+e%-
28,aara%tra2#-+a%-;o JA++e%%e 1" O+t 2!13K
Tatatele%erv+e%+o, 2!13 Tata Teleservices JonlneK Avalale
at tt::tatatele%erv+e%+o, JA++e%%e 1" O+t 2!13K Lot/ R 2!12Analy+e Cas! %lo& T!e asy -ay JonlneK
Avalale at
tt::nve%toea+o,:art+le%:%to+9%:!":ea%+a%;oa%
JA++e%%e 1" O+t 2!13K
ana*e,ent o0 te +o,an 2!13 JonlneK Avalale at
tt::tatatele%erv+e%+o,:onloa:aoutu%:tt,l:TTL-
Annual-Reort-2!12-130 JA++e%%e 1" O+t 2!13K
ana*e,ent o0 te +o,an 2!13 JonlneK Avalale at
tt::tatatele%erv+e%+o,:onloa:aoutu%:tt,l:Tata-
Annual-Reort-2!11-120 JA++e%%e 1" O+t 2!13K ana*e,ent o0 te +o,an 2!13 JonlneK Avalale at
tt::tatatele%erv+e%+o,:onloa:aoutu%:tt,l:Annual-
Reort-2!1!-110 JA++e%%e 1" O+t 2!13K
ana*e,ent o0 te +o,an 2!13 JonlneK Avalale at
tt::tatatele%erv+e%+o,:onloa:aoutu%:tt,l:TTL-
18t-A$-23-!#-2!130 JA++e%%e 1" O+t 2!13K ana*e,ent o0 te +o,an 2!13 JonlneK Avalale at
tt::tatatele%erv+e%+o,:onloa:aoutu%:tt,l:A$-
.-9alev-Ier-2#-!8-2!120 JA++e%%e 1" O+t 2!13K