VIEWS: 3 PAGES: 30 POSTED ON: 12/4/2011
Welcome to the ROCE WorkBook Introduction : 1 This tool is now provided to you to find out the ROCE of your Distributor 2 To find out the health of the business 3 To take the required corrective measurements, if any Instructions: 1 This workbook is having interlinked worksheets 2 You are suggested to keep a copy of this workbook in a safe place, so that in case of any file corruption, you can use the 3 The first 3 worksheets, i.e., "Read Me First", "About ROCE" and "ROCE vs. P&L" are mainly to make you aware about 4 The primary worksheet in this workbook, is "Sale Summary", where all the calculations gets consolidated and shows the 5 Start working on this workbook by filling up the the cells of "Sale Summary" Sheet 6 Most of the cells in this workbook is "locked" to minimise chances of file and formula corruption. 7 You are supposed to fill the cells highlighted with "yellow" 8 Watch for cells with comments. Instructions are provided on action to be taken on that cell. 9 Some worksheets are provided with additional Guidelines and Instructions. Read them carefully before working on that 10 Maintain separate workbook for each and every Distributor in yoir respective area. that in case of any file corruption, you can use the copy. OCE vs. P&L" are mainly to make you aware about ROCE and this workbook. l the calculations gets consolidated and shows the result. le and formula corruption. n action to be taken on that cell. tions. Read them carefully before working on that sheet. What is ROCE ? And why calculate it ? ROCE = Return On Capital Employed ROCE determines the viability of the business ROCE = (net margin-cost) * rotations or stock turns ROCE must be well above the commercial bank prime lending rate at the time after bank inter Return on Capital Employed Step 1 : Calculating Net Margin Gross Margin Includes •Direct People - Only those required •Managers Costs •Direct Vehicle - Converted to Revenue Cost •Extra Manpower not require •Direct Billing Cost •Higher Costs of Manpower •Direct Telephone •Distributor luxuries at office •Shared Electricity •Office Space Cost of •Direct Insurance - Stocks / Vehicle •Central Overhead Apportion Operatio •Shared Computer Operator •Opportunity Cost of Owned n •Direct Accounts Staff - As specified •Overdraft Interest •Direct Warehouse Staff - As required •Notional Costs •Overheads directly related to business •Petty Cash expenses - Refreshments / Water •Rental - If space is hired •Bank Interest on Working Capital Net •Bank Guarantee Cost Margin Step 2 : Calculating Rotations 52 Weeks Rotations Weeks of (Stock + Credit) Step 3 : Calculating ROCE Cost of Cost of 52 Gross ROCE Operatio Margin Weeks of (Stock + Credit) n or Net ROCE Rotations Margin ing rate at the time after bank interest Excludes Managers Costs - Not required Extra Manpower not required Higher Costs of Manpower Distributor luxuries at office Office Space Central Overhead Apportionment Opportunity Cost of Owned Space Overdraft Interest Notional Costs 52 Weeks of (Stock + Credit) Balance Sheet ROCE Profit & Loss (P&L) (B/S) Rent of Office / Warehouse Warehouse - Hired Yes Cost of Chairs / Tables Yes Vehicles / Computers As Revenue Cost Yes Depriciation Yes - Life Yes - 4 Years Salvage Yes - Life Yes - 1 Time Fuel Yes Yes Maintenance Yes Yes Manpower Cost Yes Yes Billing Cost Yes Yes Turnover Taxes Yes Yes Income Taxes No Yes Banking Cost : Interest Yes Yes Banking Cost : Bank Guarantee Yes Yes Telephone Yes Yes ElectricityY Yes Yes Stock Yes Yes Owners OfficeE Yes Owners Vehicle - Official Yes Running Cost of Owners Vehicle Yes Cost of Credit in Market Yes Yes Cost of Stock Rotations Yes Overdraft Cost Yes Manpower above norms Yes Managers Cost Yes Claims Small Cost / Person As per norms Actual Notional / Opportunity Costs No No No Distributor : <Insert Distributor Name here> Location : <Insert Distributor Location here> Sandisk HCL Sandisk TOTAL Kodak iPod Memory Education HCL Gaming USB Card Laptop @ Last 6 months volume in pieces 10,047 916 1012 2722 4811 583 @ Last 6 months value in Rs. : Rs.11,649,000 Rs.3,776,000 Rs.4,954,000 Rs.667,000 Rs.1,316,000 Rs.880,000 Distributor Sale price including VAT Mark Up Rs.411,103 Rs.145,231 Rs.144,291 Rs.16,268 Rs.32,098 Rs.0 Rs.72,661 Distributor Mark Up % on Purchase 3.66 4.00 3.00 2.50 2.50 9.00 9.00 Price @ Last 6 months value in Rs. - HCL Rs.11,237,897 Rs.3,630,769 Rs.4,809,709 Rs.650,732 Rs.1,283,902 Rs.0 Rs.807,339 Sale Price including VAT VAT% 7.9% 12.5% 5.0% 5.0% 5.0% 13.5% 13.5% @ Last 6 months value in Rs. - HCL Rs.10,414,652 Rs.3,227,350 Rs.4,580,675 Rs.619,744 Rs.1,222,764 Rs.0 Rs.711,312 Sale Price excluding VAT - Realisation With Bank Without Bank % DB Cost % DB Cost Guarantee Guarantee Cost / Month Rs.199,674 1.71 Rs.224,847 1.93 People Rs.66,690 0.57% Rs.66,690 0.57% Vehicles Rs.14,393 0.12% Rs.14,393 0.12% Computers Rs.8,330 0.07% Rs.8,330 0.07% Space Rental Rs.120 0.00% Rs.87 0.00% Goods Insurance Rs.7,960 0.07% Rs.5,155 0.04% Bill Cost Rs.248 0.00% Rs.248 0.00% Telephone / Fax Rs.2,013 0.02% Rs.2,013 0.02% Broadband Rs.189 0.00% Rs.189 0.00% Electricity Rs.1,134 0.01% Rs.1,134 0.01% Provision for Bad Debts Rs.46,596 0.40% Rs.46,596 0.40% Observations: Miscellaneous Rs.11,649 0.10% Rs.11,649 0.10% Bank Guarantee Rs.4,368 0.04% 0.00% Bank Guarantee cost is cheap a Bank Interest - Cost of Capital Rs.35,987 0.31% Rs.68,365 0.59% Working Capital cost is higher w Working Capital - Rs. Rs.3,084,559 Rs.5,859,837 ROCE will be higher with Bank G Working Capital - Weeks 1.0 2.0 Own funds used can increase R Bank Guarantee Value - Rs. Rs.8,735,457 Weighted @ Stock - Days 15 10 Weighted @ Stock - Value in Rs. Rs.5,685,439 Rs.3,682,241 Credit - Days 23 11 Rotations - No. of Times / Year 53 26 Net Margin from Business - % 1.9 1.7 Net Margin from Business - Rs. Rs.218,476 Rs.194,191 ROCE Per Annum - Rs. Rs.3,181,310 Rs.2,582,894 ROCE - % 103 44 ROCE will be higher with Bank Guarantee - A Win-Win situation for all With Own Funds Lying Idle Cost / Month - Rs. Rs.163,687 Rs.156,482 Cost as % of Distributors Sale 1.41 1.34 Net Margin from Business - % 2.25 1.16 Net Margin from Business - Rs. Rs.253,192 Rs.129,988 ROCE - Rs. Rs.368,683,089 Rs.172,893,926 ROCE - % 120 30 Own funds used can increase ROCE dramatically - especially when there is no Bank Guarantee <New Principal <New Principal <New Principal <New Principal Nintendo TFT No.1> No.2> No.3> No.4> 3 Rs.56,000 Rs.0 Rs.554 Rs.0 Rs.0 Rs.0 Rs.0 4.00 1.00 Rs.0 Rs.55,446 Rs.0 Rs.0 Rs.0 Rs.0 13.5% 5.0% Rs.0 Rs.52,805 Rs.0 Rs.0 Rs.0 Rs.0 Observations: Bank Guarantee cost is cheap and drives ROCE Working Capital cost is higher without Bank Guarantee. High Working Capital can destroy ROCE ROCE will be higher with Bank Guarantee - A Win-Win situation for all Own funds used can increase ROCE dramatically - especially when there is no Bank Guarantee Distributor : <Insert Distributor Name here> Location : <Insert Distributor Location here> Distributor Business Size / Month Current HCL Business Rs.50,000,000 Rs.11,649,000 Share of Business % 19% Order Taking 2 per Week Weekly 12 Days Outlets to be covered 10 600 Visits per Month 8 4 2 Calls per Month 80 2,400 0 Calls per Day per Person 15 30 30 Working Days 25 25 25 Total Required 0.2 3.2 0.0 Productivity % 65% 50% 50% Bills / Month 1 12 0 Bills / Day 0 0 0 Round off to the highest number Tele Sell Calls / Day 80 Calls Planned / Day / Person 80 Calls / Month 2000 Productivity 20% Bills / Month 400 Girls Needed 1 Total Rs.61,649,000 26 Days TOTAL 0 610 1 0 2,480 30 29 25 0.0 3.413 3 50% 50% 0 13 0 1 Distributor : <Insert Distributor Name here> Location : <Insert Distributor Location here> People Cost Number Salary/Month Fuel Cost Bonus Max Incentive Likely Incentive Per Head Salesman 3.0 Rs.7,000 Rs.1,250 Rs.583 Rs.1,750 Rs.1,225 Rs.10,058 Supervisor Rounded 0.4 Rs.10,500 Rs.1,875 Rs.875 Rs.2,625 Rs.1,838 Rs.15,088 Tele-Sell Sales Girl 1.0 Rs.7,000 Rs.583 Rs.1,750 Rs.1,225 Rs.8,808 Computer Operator (@200 Bills/Operator) 2.0 Rs.13,500 Rs.1,125 Rs.0 Rs.14,625 Driver 0.6 Rs.10,000 Rs.833 Rs.2,500 Rs.2,000 Rs.12,833 Truck Helper 0.6 Rs.6,000 Rs.500 Rs.1,500 Rs.1,200 Rs.7,700 Shared Finance Resources 0.3 Rs.15,000 Rs.1,250 Rs.16,250 Total 7 Rs.85,363 These are indicative costs and bonuses. Minor changes are allowed. Guidelines / Assumptions: Sales Manager - not required GM / Branch Manager / Finance Manager, etc., are Organisational Costs, not related to business Manager : Not taken. Managers are hired because owner cannot manage business or is using his time elsewhere - hence, manager cost to be debited to the business where the owner sits Owner salary not taken - even if called GM, etc. Computer Operator : Direct Manpower, if bills are >200/day. Additionally he will do Reports, Data Entry, etc. Delivery - 2 Trucks for 3 or 1 Truck for 2 Driver does collection Fuel for Bikes : Taken as Salesman salary per Day Monthly Total Rs.30,175 Exclusive Rs.5,658 Manpower Rs.8,808 Rs.5,534 Cost of Rs.7,275 Apportioned Rs.4,365 Manpower Rs.4,875 Rs.66,690 the business where the owner sits Distributor : <Insert Distributor Name here> Location : <Insert Distributor Location here> 3 Wheeler 4 Wheeler Computer Number of Vehicles / Computers 0.57 0.00 2.0 Vehicle Recovery Cost / Month Rs.9,417 Rs.7,328 Rs.3,120 KM Travelled / Month 1750 1750 KM Travelled / Day 70 70 Fuel Rate / Litre Rs.44 Rs.44 Mileage / Litre - KM 6 6 Litres / Month 292 292 Fuel Cost / Month Rs.12,833 Rs.12,833 Maintenance / Month Rs.3,139 Rs.2,443 Rs.1,040 Vehicle Cost / Month : Total Rs.14,393 Rs.0 Rs.8,330 Vehicle Cost / Month / Vehicle Rs.25,390 #DIV/0! Rs.4,160 Vehicle Cost / Day / Vehicle Rs.1,016 #DIV/0! Rs.166 Calculations: 3 Wheeler 4 Wheeler Computer + Printer Life (Years) 6 8 3 Purchase Price Rs.325,000 Rs.350,000 Rs.55,000 Interest Per Annum Reducing Balance 14 14 Instalment Months 24 24 Interest : Year 1 Rs.45,500 Rs.49,000 Rs.0 Interest : Year 2 Rs.22,750 Rs.24,500 Rs.0 Total Interest Rs.68,250 Rs.73,500 Rs.0 Interest / Year Rs.11,375 Rs.9,188 Rs.0 Total Interst / Month Rs.948 Rs.766 Rs.0 Depreciation / Year Rs.54,167 Rs.43,750 Rs.18,333 Depreciation / Month Rs.4,514 Rs.3,646 Rs.1,528 Salvage Value Rs.65,000 Rs.70,000 Salvage / Year Rs.10,833 Rs.8,750 Rs.0 Salvage / Month Rs.903 Rs.729 Rs.0 Purchase Value / Month Rs.4,514 Rs.3,646 Rs.1,528 Insurance Rate % Per Annum Reducing Balance 2.10 2.10 2.10 Insurance / Month Rs.345 Rs.0 Rs.64 Cost / Month Rs.9,417 Rs.7,328 Rs.3,120 Cost / Day Rs.314 Cost of 3 Wheeler Depreciation Years Depreciation % Insurance % Rs.325,000.00 6 16.7 2.1 W Depriciated Depreciation Insurance Value Rs.6,825 After Year 1 Rs.54,167 Rs.270,833 Rs.5,688 After Year 2 Rs.54,167 Rs.216,667 Rs.4,550 After Year 3 Rs.54,167 Rs.162,500 Rs.3,413 After Year 4 Rs.54,167 Rs.108,333 Rs.2,275 After Year 5 Rs.54,167 Rs.54,167 Rs.1,138 After Year 6 Rs.54,167 Rs.0 Rs.0 Total Rs.23,888 Per Month Rs.332 Cost of 4 Wheeler Depreciation Years Depreciation % Insurance % Rs.350,000.00 8 12.5 2.1 W Depriciated Depreciation Insurance Value Rs.7,350 After Year 1 Rs.43,750 Rs.306,250 Rs.6,431 After Year 2 Rs.43,750 Rs.262,500 Rs.5,513 After Year 3 Rs.43,750 Rs.218,750 Rs.4,594 After Year 4 Rs.43,750 Rs.175,000 Rs.3,675 After Year 5 Rs.43,750 Rs.131,250 Rs.2,756 After Year 6 Rs.43,750 Rs.87,500 Rs.1,838 After Year 7 Rs.43,750 Rs.43,750 Rs.919 After Year 8 Rs.43,750 Rs.0 Rs.0 Total Rs.33,075 Per Month Rs.345 Cost of Computer + Printer Depreciation Years Depreciation % Insurance % Rs.55,000.00 3 33.3 2.1 W Depriciated Depreciation Insurance Value Rs.1,155 After Year 1 Rs.18,333 Rs.36,667 Rs.770 After Year 2 Rs.18,333 Rs.18,333 Rs.385 After Year 3 Rs.18,333 Rs.0 Rs.0 Total Rs.2,310.00 Per Month Rs.64.17 Guidelines / Assumptions: Delivery may be shared, hence costs could be lower If only 4 wheeler is wanted or a mix of 3 & 4 wheelers, then change cell B4 If Computer in Decimal, that means it is shared 25 Work Days assumed Vehicle Rates are with body All costs apportioned over life of vehicle If bicycles and 2 wheelers are used change Number of Vehicles (B4), Fuel Rate / Litre (B8) to get to cost of Delivery mode Distributor : <Insert Distributor Name here> Location : <Insert Distributor Location here> Space Cost Sandisk Sandisk TOTAL Kodak iPod Memory USB Card @ Pieces / Case 20 25 200 200 @ Last 6 Months Volume of Pieces 10,047 916 1012 2722 4811 @ Last 6 Months Volume of Cases 151 46 40 14 24 With Bank Guarantee Stock Level needed in Days 15 21 15 5 5 Stock on Floor 32 20 2 4 Space in Square Feet 9 3.8 2.4 0.3 0.5 Rate / Square Feet / Month Rs.14 Space Cost / Month Rs.120 Without Bank Guarantee Stock Level needed in Days 10 15 7 5 5 Stock on Floor 23 9 2 4 Space in Square Feet 6 2.7 1.1 0.3 0.5 Rate / Square Feet / Month Rs.14 Space Cost / Month Rs.87 Guidelines / Assumptions: Area / Space Conversion Number of Cases 50 Space required in Sq. Feet 6 Approximate Rent per Square Feet Big Cities Rs.14 Other Cities Rs.7 Owned Space - Opportunity Cost cannot be taken Insurance cost of Goods With BG Without BG Rate per Month 0.14% 0.14% Cost per Month 7,960 5,155 Insurance is for Average Stock Holding HCL <New <New <New <New Education HCL Gaming Nintendo TFT Principal Principal Principal Principal Laptop No.1> No.2> No.3> No.4> 10 24 6 1 0 0 0 0 0 583 0 3 0 0 0 0 - 24 - 3 - - - - 15 15 7 7 0 0 0 0 0 12 0 1 0 0 0 0 - 1.5 - 0.1 - - - - 15 15 10 10 - - - - 0 12 0 1 0 0 0 0 - 1.5 - 0.1 - - - - Distributor : <Insert Distributor Name here> Location : <Insert Distributor Location here> Miscellaneous Cost Rate Number Cost Bill Cost Computerised 0.6 413 Rs.248 Manual 0.4 413 Rs.165 Telephone / Month Rs.2,013 Broadband / Month Rs.189 Electricity - Shared / Month Rs.6,000 Rs.1,134 Miscellaneous / Month Rs.11,649 Provision for Bad Debts / Month Rs.46,596 Bank Guarantee Cost Value of Bank Guarantee Rs.8,735,457 Cost % 0.60% Rs.4,368 Bank Interest - With Bank Guarantee Average Working Capital Rs.3,084,559 Rate of Interest per Annum 14 Guidelines / Assumptions: Rate of Interest per Month 1.17 Cost of Capital Rs.35,987 B6 or B7, cancel 1 of 2 - manual or computerised Bank Interest - Without Bank Guarantee Provision for Bad Debts / Month = 0.4% of Sales Average Working Capital Rs.5,859,837 Value of Bank Guarantee = Value of credit received from Rate of Interest per Annum 14 If Distributor uses own capital, he gets extra margin. Rate of Interest per Month 1.17 Cost of Capital Rs.68,365 Assumptions: 1 of 2 - manual or computerised Debts / Month = 0.4% of Sales arantee = Value of credit received from HCL own capital, he gets extra margin. Distributor : <Insert Distributor Name here> Location : <Insert Distributor Location here> Contribution to Business and Credit Days Sandisk Sandisk TOTAL Kodak iPod Memory USB Card Claim % 5% 1% Claim Value Rs.308,740 Rs.188,800 Rs.49,540 Rs.0 Rs.0 Large Dealer % 50% 50% 50% 50% Medim Dealer % 15% 15% 15% 15% Weekly % 20% 20% 20% 20% Cash % 15% 15% 15% 15% Sale Value Rs.11,649,000 Rs.3,776,000 Rs.4,954,000 Rs.667,000 Rs.1,316,000 Large Dealer Rs.5,804,900 Rs.1,888,000 Rs.2,477,000 Rs.333,500 Rs.658,000 Medim Dealer Rs.1,747,350 Rs.566,400 Rs.743,100 Rs.100,050 Rs.197,400 Weekly Rs.2,327,000 Rs.755,200 Rs.990,800 Rs.133,400 Rs.263,200 Cash Rs.1,769,750 Rs.566,400 Rs.743,100 Rs.100,050 Rs.197,400 Credit Days in Market Large Dealer 30 21 15 15 Medim Dealer 14 14 0 0 Weekly 7 7 0 0 Cash 0 0 0 0 Credit Value in Market Rs.5,825,837 Rs.2,416,640 Rs.2,427,460 Rs.166,750 Rs.329,000 Large Dealer Rs.4,431,530 Rs.1,888,000 Rs.1,733,900 Rs.166,750 Rs.329,000 Medim Dealer Rs.943,880 Rs.352,427 Rs.462,373 Rs.0 Rs.0 Weekly Rs.450,427 Rs.176,213 Rs.231,187 Rs.0 Rs.0 Cash Rs.0 Weighted @ Credit Days 15 19 15 8 8 Purchase with VAT from HCL Rs.11,237,897 Rs.3,630,769 Rs.4,809,709 Rs.650,732 Rs.1,283,902 With Bank Guarantee Credit Days Received 23 30 21 14 14 Credit Days Received in Rs. Rs.8,735,457 Rs.3,630,769 Rs.3,366,796 Rs.303,675 Rs.599,154 Average Stock Days 15 21 15 5 5 Stock Value Rs.5,685,439 Rs.2,541,538 Rs.2,404,854 Rs.108,455 Rs.213,984 Working Capital in Days 7 10 9 -2 -2 Working Capital in Weeks 1.0 1.5 1.2 -0.2 -0.2 Working Capital in Rs. Rs.3,084,559 Rs.1,516,209 Rs.1,515,058 -Rs.28,470 -Rs.56,171 Rotations 53 36 42 -243 -243 Without Bank Guarantee Credit Days Received 11 21 7 -2 -2 Credit Days Received in Rs. Rs.3,956,980 Rs.2,541,538 Rs.1,122,265 -Rs.43,382 -Rs.85,593 Average Stock Days 10 15 7 5 5 Stock Value Rs.3,682,241 Rs.1,815,385 Rs.1,122,265 Rs.108,455 Rs.213,984 Working Capital in Days 14 13 15 15 15 Working Capital in Weeks 2.0 1.9 2.1 2.1 2.1 Working Capital in Rs. Rs.5,859,837 Rs.1,879,286 Rs.2,477,000 Rs.318,587 Rs.628,577 Rotations 26 28 25 25 25 Guidelines / Assumptions: Credit Days : Take Contractual To show what the Distributor is taking actually, insert REAL Credit taken Average Stock taken as Distributor Stock is NOT always 4 weeks : Physical + Transit Rotations measures the number of times the same working capital was used in a year to generate the sale of the year. HCL <New Principal <New Principal <New Principal Education HCL Gaming Nintendo TFT No.1> No.2> No.3> Laptop 8% 8% Rs.0 Rs.70,400 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 50% 50% 50% 15% 15% 15% 15% 15% 20% 20% 20% 15% 15% 15% 15% 55% 100% 100% 100% Rs.0 Rs.880,000 Rs.0 Rs.56,000 Rs.0 Rs.0 Rs.0 Rs.0 Rs.440,000 Rs.0 Rs.8,400 Rs.0 Rs.0 Rs.0 Rs.0 Rs.132,000 Rs.0 Rs.8,400 Rs.0 Rs.0 Rs.0 Rs.0 Rs.176,000 Rs.0 Rs.8,400 Rs.0 Rs.0 Rs.0 Rs.0 Rs.132,000 Rs.0 Rs.30,800 Rs.0 Rs.0 Rs.0 21 21 21 21 21 21 21 21 7 7 7 7 0 0 0 0 0 0 0 Rs.0 Rs.472,267 Rs.0 Rs.13,720 Rs.0 Rs.0 Rs.0 Rs.0 Rs.308,000 Rs.0 Rs.5,880 Rs.0 Rs.0 Rs.0 Rs.0 Rs.123,200 Rs.0 Rs.5,880 Rs.0 Rs.0 Rs.0 Rs.0 Rs.41,067 Rs.0 Rs.1,960 Rs.0 Rs.0 Rs.0 #DIV/0! 16 #DIV/0! 7 #DIV/0! #DIV/0! #DIV/0! Rs.0 Rs.807,339 Rs.0 Rs.55,446 Rs.0 Rs.0 Rs.0 30 30 15 15 Rs.0 Rs.807,339 Rs.0 Rs.27,723 Rs.0 Rs.0 Rs.0 15 15 7 7 Rs.0 Rs.403,670 Rs.0 Rs.12,937 Rs.0 Rs.0 Rs.0 #DIV/0! 1 #DIV/0! -1 #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0.2 #DIV/0! -0.1 #DIV/0! #DIV/0! #DIV/0! Rs.0 Rs.138,997 Rs.0 -Rs.1,065 Rs.0 Rs.0 Rs.0 #DIV/0! 331 #DIV/0! -560 #DIV/0! #DIV/0! #DIV/0! 15 15 10 Rs.0 Rs.403,670 Rs.0 Rs.18,482 Rs.0 Rs.0 Rs.0 15 15 10 10 Rs.0 Rs.403,670 Rs.0 Rs.18,482 Rs.0 Rs.0 Rs.0 #DIV/0! 16 #DIV/0! 7 #DIV/0! #DIV/0! #DIV/0! #DIV/0! 2.3 #DIV/0! 1.1 #DIV/0! #DIV/0! #DIV/0! Rs.0 Rs.542,667 Rs.0 Rs.13,720 Rs.0 Rs.0 Rs.0 #DIV/0! 23 #DIV/0! 50 #DIV/0! #DIV/0! #DIV/0! <New Principal No.4> Rs.0 100% Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 0 Rs.0 Rs.0 Rs.0 Rs.0 #DIV/0! Rs.0 Rs.0 Rs.0 #DIV/0! #DIV/0! Rs.0 #DIV/0! Rs.0 Rs.0 #DIV/0! #DIV/0! Rs.0 #DIV/0!
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