S EPORTING ATE UGUST Tulsi … S Stakeholders’ Education | orporate Governance Research | orporate Governance Score | Proxy Advisory STAKEHOLDERS EMPOWERMENT SERVICES | P A G E ECTOREPORTING

Stakeholders’ Education | Corporate Governance Research | Corporate Governance Score | Proxy Advisory

STAKEHOLDERS EMPOWERMENT SERVICES

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SECTOR: PLASTIC PRODUCTS REPORTING DATE: 14TH AUGUST, 2017

TULSI EXTRUSIONS LTD

www.tulsigroup.com

Tulsi Extrusions Ltd NSE Code - TULSI TABLE 1 - MARKET DATA (STANDALONE) (AS ON 10TH AUGUST, 2017)

Sector - Plastic products NSE Market Price (`) 3.70 NSE Market Cap. (₹ Cr.) 10.17

Face Value (`) 10.00 Equity (` Cr.) 27.49

Business Group – N.A. 52 week High/Low (₹) 6.3/3.05 Net worth (₹ Cr.)* -45.49

Year of Incorporation - 1994 TTM P/E (TTM) N.A. Traded Volume (Shares) 12,549

TTM P/BV N.A. Traded Volume (lacs) 0.46

Registered Office - Source - Capitaline, TTM - Trailing Twelve Months, N.A. – Not Applicable, * as on 30th Sept, 2016

No. 99, MIDC Area, COMPANY BACKGROUND

Jalgaon – 425 003,

Maharashtra Tulsi Extrusions Limited was incorporated as a private limited company on 16th

September, 1994 under the name and style of Tulsi Extrusions Private Limited. Later the

company was converted to a public limited company in 5th June, 1995. The company has

marketing and distribution network in the State of Maharashtra, Madhya Pradesh,

Chattisgarh, Rajasthan and West Bengal for Agriculture PVC Pipes & Fitting. Subsequently

the application of these agricultural PVC Pipes has been extended to various sectors like

Potable Water Supply Schemes, Sewerage and Drainage systems. The company is having

all Modern Plant & Machinery along with in-house laboratory with modern testing

equipments to manufacture its products and it is an ISO 9001-2000 company. Products

of the company are in wide range, such as SWR Pipes, Rigid PVC Pipes, LLDPE Pipes, ASTM

Pipes, Casing and Screen Pipes and HDPE Pipes under the brand name Tulsi'.

+91 257 227 2732

Company Website:

www.tulsigroup.com

Revenue and Profit Performance

The revenue of the Company increased from ₹ 8.06 crores to

₹ 12.06 crores from quarter ending Sep’15 to quarter ending

Sep’16. The Company made a loss of ₹ 2.66 crores in quarter

ending Sep’16 vis-a-vis making a loss of ₹ 2.59 crores in

quarter ending Sep’15.

Data Source: Moneycontrol

Performance vis-à-vis Market

TABLE 2- Returns

1-m 3-m 6-m 12-m

Tulsi Extrusions Ltd -6.33% -4.05% -7.50% -8.64%

Nifty -0.67% 4.00% 11.87% 13.63%

Data Source: NSE

-

0.50

1.00

1.50

2.00

Aug16

Sep16

Oct16

Nov16

Dec16

Jan17

Feb17

Mar17

Apr17

May17

Jun17

Jul17

Tulsi Extrusions Ltd NIFTY

12.0615.91

8.06

-2.66-0.75

-2.59-10

0

10

20

Sep'16 Mar'16 Sep'15

Quarterly revenue and Profit (₹ CRORE)

Revenue Profit

http://www.tulsigroup.com/




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www.tulsigroup.com

TABLE 3 - FINANCIALS

(₹ Cr.) Sep’16 Mar’16 Sep’15 % Change

Sep ’16 vs Mar’16 Mar’16 vs Sep’15

Net Worth -45.49 -42.39 -37.79 N.A. N.A.

Current Assets 96.61 94.21 91.87 2.55% 2.54%

Non-Current Assets 103.87 107.84 114.60 -3.68% -5.90%

Total Assets 200.48 202.05 206.47 -0.78% -2.14%

Investments 4.11 4.11 4.12 0.00% -0.16%

Finance Cost 0.26 0.15 0.20 73.33% -25.00%

Long Term Liabilities 133.32 135.46 136.55 -1.58% -0.80%

Current Liabilities 112.65 108.97 107.71 3.37% 1.17%

Turnover 11.80 15.62 7.87 -24.46% 98.48%

Profit After Tax (PAT) -2.66 -0.75 -2.59 N.A. N.A.

EPS (₹) -0.97 -0.27 -0.94 N.A. N.A.

Source - Money Control/Stock exchange filling

AUDIT QUALIFICATIONS

Audit Qualifications in last 3 years: The Auditors raised qualifications only in FY 2013-14.

Qualified Opinion during FY 2013-2014

“a) Bad Debts written off ₹ 30.28 Crores.

b) Raw Material damaged ₹ 6.77 Crores.

c) No’s of finished goods converted into Kg as certified by management which are reduced substantially by management.

d) As on 20.02.2014 as excise audit was conducted by department wherein the demand has been raised for ₹ 1.45 Crores on

account of Shortage of stock. However the management has not given effect of this shortage of stock in current year. The

shortage of stock calculated by department was ₹ 24.29 Crores as per MRP.”

Management Response:

“The company is exclusively dealing with PNB for entire working capital requirements. In the year 2011 the company was

sanctioned Term loan of ₹ 128.50 Crores by consortium of banks led by PNB and other banks Allahabad bank and UCO bank.

The share of PNB was ₹ 60 Crores; Allahabad was of ₹ 40 Crores and UCO bank ₹ 28.50 in the consortium. Term Loan was taken

to undertake expansion by adding the capacity of existing plant by adding new machinery of existing machineries for

manufacture of PVC injection, molded fittings, HDPE Sprinkler System, inline drip irrigation System, Lldpe fittings for micro

irrigation pellet including fruits and vegetables crates.

Due to delay in getting NA permission of land on account of proposed expansion of Jalgaon Airport, the company had to acquire

an alternate Site at Village Paldhi, Dist Jalgaon. The UCO Bank delayed revalidation of sanction and finally they declined their

sanction for the revalidation of their share of the term loan after execution of joint documents. So the mega project was

abnormally delayed and the company suffered huge financial losses of ₹ 91.47 Crores and Cash loss of ₹ 85.35 Crores on

standalone basis and business activity remained on very low scale during the current financial crunch. This not the single reason

for the loss, the following factors also contributes to this figure;

a) Loan burden of Mega project - Company continued to service the loans, including the loans of mega project from the revenues

earned from existing units to keep the account standard despite liquidity problems. It would be interesting to note that company

has paid around 50% of the amount sanctioned in repayment of Interest. Considering the size of the operations of the existing

units, the above amount put a substantial pressure on the liquidity of the company

b) Delay in assessment of Working Capital - For working capital requirement for 2011-12 papers were submitted in August

2011, was sanctioned in October 2011. For working capital requirement of 2012-13 papers were submitted in May 2013 but

limit enhancement was kept pending due to the delay in Mega Project financial tie-up. Abnormal delay in assessing the working

capital for the existing operations despite our repeated follow-up and also making available only to the extent of 50% of the




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assessed limits, assessed in June 2013, disbursed in September 2013, practically paralyzed the activities of the existing units.

Having declared the mega project failed, the sanctioned of additional limit naturally confined to the existing unit where only

PNB was involved. We are still surprised as to how this disbursement of 50% linked to UCO Bank’s share whose presence was

only in Mega project and not in the existing units and that Banks had declared mega project as failed.

c) Monsoon Vagaries - 70% of our sales are to the farmers. Farming in India is largely dependent on Monsoon rains. Last two

years experienced a very erratic Monsoon. The year FY 2012-13 was the year of low rainfall and drought like situation where

underground water levels went down and most of the water resources were dried up. Hence there was a very feeble requirement

for irrigation pipes. Somehow company managed to achieve 90% of its sales target but margins went down and cash flow was

tight. In FY 2013-14 rains started from 1st June. There was an extended spell of rains. Normally 3 months’ rainy season lasted

for 5 months. The requirement of water in irrigation field was fulfilled by rain water and requirement for PVC Pipes and fittings

was very less. Even after October there was small spell of rains at regular intervals of 15-20 days, negating the need of water

management through pipes in fields. On top of all these adversities, the final bolt from blue came in the month of March. Month

of March when the crops were ready to reap heavy rains, unprecedented in 100 years, hailing jolted the entire agricultural world.

Heavy snowfall and rains resulted in loss of crop and snatched the money from the hands of the farmers in the last moment.

The situation was so worse that various State Govt’ took special permission from Election commission to distribute special reliefs

to dying farmers. Farmers survived but the industry supplying them agri inputs lost their business. Our company, like other

players in this field, also faced fall in demand, liquidity crunch and loss of profit.

d) Dues from Farmers - Company sold the goods to Farmers on credit as a regular business practice. A big lot of debtors were

stuck up due to non-payment of subsidy by Govt. to farmers, drought in the year 2012-13 and change in Govt. policies. These

payments were outstanding for long time and regular follow-ups were done to recover the money. Strict reminder letters and in

some cases legal notice were also issued. Case of suicide by farmers due to non-repayment of loan and reverend us from taking

any harsh action. Finally, therefore the company has to book these dues of ₹ 29.46 Crore as Bad Debts at the end of March 2014

on the recommendation of the Auditor and Audit committee.

e) Loss of Materials - Company stores PVC Resin in newly built godown. Last year rain was heavy and was extended over for a

longer period of time. On some of these heavy rain days’ rain water entered into our godown damaging the raw material. The

PVC resin lost its properties and was unfit for production of ISI standard pipes. Around 1500 Mt. of PVC Resin got damaged. It

was an unexpected and rare event happened first time in 20 years’ life of Company. The matter was reported. A CA report was

also made. The insurance claim was put by the Company but it was rejected by Insurance Company as our Insurance cover was

for fire, theft, flood and other regular risks. Unfortunately, the cause did not come under either of this cover. Based on the test

conducted by an independent Agency “Delhi Test House, Delhi, certified by Govt. of India, the wet resin was not fit for ISI

production. This incidence though one time also put pressure on working capital.”

Response Comment

Frequency of Qualifications Not Applicable -

Have the auditors made any adverse remark in last 3 years? No -

Are the material accounts audited by the Principal Auditors? Yes -

Do the financial statements include material unaudited financial statements? No -

TABLE 4: BOARD PROFILE (AS PER LATEST ANNUAL REPORT 2015-16)

Regulatory Norms Company

% of Independent Directors on the Board 50% 60%

% of Promoter Directors on the Board - 20%

Number of Women Directors on the Board At least 1 1

Classification of Chairman of the Board - Executive Promoter Director

Is the post of Chairman and MD/CEO held by the same person? - Yes

Average attendance of Directors in the Board meetings (%) - 82.50%




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Composition of Board: As per Regulation 17(1)(b) of the Listing Regulations, 2015, the Company should have at least 50%

Independent Directors as the Chairman of the Board is a Promoter Executive Director. The Company has 60% of Independent

Directors and hence, it meets the regulatory requirements.

Board Diversity: The Company has 5 directors out of which 4 are male and 1 is female.

TABLE 5 - FINANCIAL RATIOS

Ratios Sep’16 Mar’16 Sep’15

% Change

Sep ’16 vs

Mar’16

Mar’16 vs

Sep’15

Turn

ove

r

Rat

ios

Inventory Turnover 0.60 0.68 0.42 -12.44% 62.45%

Debtors Turnover 0.17 0.24 0.12 -32.07% 102.93%

Fixed asset Turnover 0.11 0.14 0.07 -21.57% 110.92%

Current Asset Turnover 0.12 0.17 0.09 -26.33% 93.56%

Ret

urn

Rat

ios

Operating Profit Margin -6.36% 3.52% -15.37% -280.51% N.A.

Net Profit Margin -22.54% -4.80% -32.91% N.A. N.A.

Return on Assets (ROA) N.A. N.A. N.A. N.A. N.A.

Return on Equity (ROE) N.A. N.A. N.A. N.A. N.A.

Return on Capital Employed

(ROCE) N.A. N.A. N.A. N.A. N.A.

Liq

uid

ity

Rat

ios

Current Ratio 0.86 0.86 0.85 -0.80% 1.35%

Quick Ratio 0.68 0.65 0.68 4.25% -3.62%

Cash Ratio 0.05 0.07 0.07 -24.87% -6.04%

Working Capital Turnover ratio N.A. N.A. N.A. N.A. N.A.

Solv

ency

Rat

ios Debt to equity ratio N.A. N.A. N.A. N.A. N.A.

Interest Coverage Ratio N.A. 3.67 N.A. N.A. N.A.

Trad

ing

Rat

ios

Market Cap / Sales 0.87 0.48 0.72 83.93% -33.71%

Market Cap/ Net Worth N.A. N.A. N.A. N.A. N.A.

Market Cap/PAT N.A. N.A. N.A. N.A. N.A.

Market Cap/EBITDA N.A. 13.49 N.A. N.A. N.A.

Source - Money Control

TABLE 6 - TRADING VOLUME

Jun’17 Dec’16 Jun’16 % Change

Jun ’17 vs

Dec’16 Dec’16 vs Jun’15

Trading Volume (shares) (avg. of 1 qtr) 31,812 32,114 8,955 -0.94% 258.61%

Trading Volume (shares) (high in 1 qtr) 182,351 418,078 87,970 -56.38% 375.25%

Trading Volume (shares) (low in 1 qtr) 3,005 672 139 347.17% 383.45%

Ratio - High/low trading volume 60.68 622.14 632.88 -90.25% -1.70%

Ratio - High/average trading volume 5.73 13.02 9.82 -55.97% 32.53%

Source – Capitaline




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TABLE 7 (A): OWNERSHIP & MANAGEMENT RISKS

Jun'17 Dec'16 Jun'16 Comments

Shar

eho

ldin

g (%

)

Promoter shareholding 26.16 26.16 26.16 • No new equity shares were issued during the

period from June 2016 to June 2017.

• There was no change in promoter

shareholding during the period.

• No change was observed in the Public

shareholding pattern during the said period.

• The promoters have pledged 47.28% of their

shareholding.

Public - Institutional

shareholding 0.37 0.37 0.37

Public - Others shareholding 73.47 73.47 73.47

Non-Promoter Non-Public

Shareholding 0.0 0.00 0.00

Source – NSE

MAJOR SHAREHOLDERS (AS ON 30TH JUNE 2017)

S. No. Promoters Shareholding S. No. Public Shareholders Shareholding

1 Gopal Extrusions Pvt. Ltd. 9.09% 1 Dipak Kanayalal Shah 3.74%

2 Pradip Jasraj Mundhara 8.16% 2 Joy Bharat Commodeal Private Limited 1.23%

3 Taparia Nandini Sanjay 4.34% 3 Nupur P. Mundhra 1.07%

4 Taparia Citra Sunil 1.82% 4 Ramesh Baliram Chaudhari 1.10%

5 Sanjaykumar Taparia 1.35%

Source – NSE

TABLE 7 (B): OWNERSHIP & MANAGEMENT RISKS

Market Activity of

Promoters

The Promoters of the Company bought 6700 shares in the secondary market during the FY 2015-16.

Preferential issue to

promoters

No preferential issue of shares was made to the promoters during the FY 2015-16

Preferential issue to

others

No preferential issue of shares was made to other shareholders during the FY 2015-16

GDRs issued by the

Company

The Company did not issue any GDRs during the FY 2015-16

Issue of ESOPs The Company did not issue any shares to the employees under its ESOP Scheme.

Source - Annual Report 2015-16

TABLE 8: PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

Sr. No. Name and Description of main products / services % to Total turnover of the Company

1 Plastic Products 90%

Source - Annual Report 2015-16




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Glossary

Equity: The equity shares capital of the Company

Net Worth: The amount by which the Assets exceeds the liabilities excluding shareholders’ funds of the Company

Turnover: The revenue earned from the operations of the Company

EPS: Earning Per Share is net profit earned by the Company per share

𝐸𝑃𝑆 =Profit After Tax

Number of outstanding shares

P/E ratio: It is the ratio of the Company’s share price to earnings per share of the Company

𝑃/𝐸 𝑟𝑎𝑡𝑖𝑜 =Price of each share

Earnings per share

Current Assets: Cash and other assets that are expected to be converted to cash in one year

Fixed Assets: assets which are purchased for long-term use and are not likely to be converted quickly into cash, such as land,

buildings, and equipment

Total Assets: Current Assets + Fixed Assets

Investments: An investment is an asset or item that is purchased with the hope that it will generate income or appreciate in

the future.

Finance Cost: The Financing Cost (FC), also known as the Cost of Finances (COF), is the cost and interest and other charges

incurred during the year in relation to borrowed money.

Long Term Liabilities: Long-term liabilities are liabilities with a maturity period of over one year.

Current Liabilities: A company's debts or obligations that are due within one year.

Inventory Turnover ratio: Inventory Turnover is a ratio showing how many times a company's inventory is sold and replaced

over a period.

𝐼𝑛𝑣𝑒𝑛𝑡𝑜𝑟𝑦 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover

Inventory

Debtors Turnover: Accounts receivable turnover is an efficiency ratio or activity ratio that measures how many times a business

can turn its accounts receivable into cash during a period

𝐷𝑒𝑏𝑡𝑜𝑟𝑠 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover

Accounts recievables

Fixed Asset Turnover: The fixed-asset turnover ratio is a financial ratio of net sales to fixed assets

𝐹𝑖𝑥𝑒𝑑 𝐴𝑠𝑠𝑒𝑡 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover

Fixed Assets

Current Asset Turnover: The current-asset turnover ratio is a financial ratio of net sales to fixed assets

𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐴𝑠𝑠𝑒𝑡 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =Sales Turnover

Current Assets

Operating Profit Margin: Operating margin is a measurement of what proportion of a Company’s revenue is left over after

paying for variable costs of production such as wages, raw materials etc. It can be calculated by dividing a Company’s operating

income (also known as “operating profit”) during a given period by its sales during the same period.

𝑂𝑝𝑒𝑟𝑎𝑡𝑖𝑛𝑔 𝑃𝑟𝑜𝑓𝑖𝑡 𝑀𝑎𝑟𝑔𝑖𝑛 =Operating profit

Sales Turnover

Net Profit Margin: Net profit margin is the percentage of revenue left after all expenses have been deducted from sales

𝑁𝑒𝑡 𝑃𝑟𝑜𝑓𝑖𝑡 𝑀𝑎𝑟𝑔𝑖𝑛 =Net profit

Sales Turnover




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Return on Assets: ROA tells you what earnings were generated from invested capital (assets)

𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐴𝑠𝑠𝑒𝑡𝑠 =Net profit

Total Assets

Return on equity/net worth: return on equity (ROE) is the amount of net income returned as a percentage of shareholders’

equity.

𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐸𝑞𝑢𝑖𝑡𝑦 =Net profit

Net worth

Return on Capital Employed: Return on capital employed (ROCE) is a financial ratio that measures a company's profitability

and the efficiency with which its capital is employed.

𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝐸𝑚𝑝𝑙𝑜𝑦𝑒𝑑 =Net profit

Total Debt + Equity share capital

Current ratio: The current ratio is a financial ratio that measures whether or not a firm has enough resources to pay its debts

over the next 12 months. It compares a firm's current assets to its current liabilities.

𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝑟𝑎𝑡𝑖𝑜 =Current Assets

Current Liabilities

Quick ratio: The quick ratio is a measure of how well a Company can meet its short term financial liabilities.

𝑄𝑢𝑖𝑐𝑘 𝑟𝑎𝑡𝑖𝑜 =Current Assets − Inventories

Current Liabilities

Cash ratio: The ratio of the liquid assets of a Company to its current liabilities.

𝑄𝑢𝑖𝑐𝑘 𝑟𝑎𝑡𝑖𝑜 =Current Assets − Inventories − Account Recievables

Current Liabilities

Working Capital Turnover ratio: The working capital turnover ratio is also referred to as net sales to working capital. It indicates

a Company's effectiveness in using its working capital.

𝑊𝑜𝑟𝑘𝑖𝑛𝑔 𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =𝑆𝑎𝑙𝑒𝑠 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟

Current Assets − Current Liabilities

Debt to Equity ratio: The debt-to-equity ratio (D/E) is a financial ratio indicating the relative proportion of

shareholders' equity and debt used to finance a company's assets.

𝐷𝑒𝑏𝑡 𝑡𝑜 𝐸𝑞𝑢𝑖𝑡𝑦 𝑟𝑎𝑡𝑖𝑜 =𝑆ℎ𝑜𝑟𝑡 𝑇𝑒𝑟𝑚 𝐷𝑒𝑏𝑡 + 𝐿𝑜𝑛𝑔 𝑇𝑒𝑟𝑚 𝐷𝑒𝑏𝑡

𝑁𝑒𝑡 𝑊𝑜𝑟𝑡ℎ

Interest Coverage ratio: The Interest coverage ratio is a debt ratio and profitability ratio used to determine how easily a

Company can pay interest on outstanding debt.

𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝐶𝑜𝑣𝑒𝑟𝑎𝑔𝑒 𝑅𝑎𝑡𝑖𝑜 =𝐸𝑎𝑟𝑛𝑖𝑛𝑔 𝐵𝑒𝑓𝑜𝑟𝑒 𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑎𝑛𝑑 𝑇𝑎𝑥

𝐹𝑖𝑛𝑎𝑛𝑐𝑒 𝐶𝑜𝑠𝑡

Market Cap/Sales ratio: Market Cap/sales ratio, Price–sales ratio, P/S ratio, or PSR, is a valuation metric for stocks. It is

calculated by dividing the company's market cap by the revenue in the most recent year; or, equivalently, divide the per-

share stock price by the per-share revenue.

𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝑆𝑎𝑙𝑒𝑠 𝑟𝑎𝑡𝑖𝑜 =𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝

𝑆𝑎𝑙𝑒𝑠 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟

Market Cap/ Net Worth ratio: It is a valuation ratio calculated by dividing Company’s market cap to net worth.

𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝑁𝑒𝑡𝑤𝑜𝑟𝑡ℎ 𝑟𝑎𝑡𝑖𝑜 =𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝

𝑁𝑒𝑡𝑤𝑜𝑟𝑡ℎ

Market Cap/ PAT ratio: It is a valuation ratio calculated by dividing Company’s market cap to net profit.

𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝑃𝐴𝑇 𝑟𝑎𝑡𝑖𝑜 =𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝

𝑛𝑒𝑡 𝑝𝑟𝑜𝑓𝑖𝑡

Market Cap/ EBITDA ratio: It is a valuation ratio calculated by dividing Company’s market cap to EBITDA.


http://www.investopedia.com/terms/i/invested-capital.asp

http://www.investopedia.com/articles/stocks/05/04405.asp

https://en.wikipedia.org/wiki/Stock

https://en.wikipedia.org/wiki/Market_cap

https://en.wikipedia.org/wiki/Stock



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𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝐸𝐵𝐼𝑇𝐷𝐴 𝑟𝑎𝑡𝑖𝑜 =𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝

𝐸𝐵𝐼𝑇𝐷𝐴

Trading Volume (shares) (avg. of 1 year): Average number of shares/day traded in 1 year

Trading volume (shares) (high in 1 year): Highest number of shares/day traded in 1 year

Trading volume (shares) (minimum in 1 year): Lowest number of shares traded on any one day in 1 year




9 | P A G E



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