Financial Reporting standards India

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  1. #1

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    Financial Reporting standards India

    I am just looking at an Annual Report issued by an Indian company and there are two terms, marked in bold, that I don't know how to interpret, I appreciate your input

    a.Weighted average number of equity shares outstanding: 1,03,98,784
    What kind of connotation is this ?

    b.Rupees in lacs
    What's lacs ?

    Last edited by Morrison; 01-12-2010 at 01:00 PM.

  2. #2

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    b. One Lac is one hundred thousand.


  3. #3

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    India, like China, does big numbers slightly differently. Just remove the commas or replace them where you would put them in your numbering system. The number above is ten million, three hundred and ninety eight thousand, seven hundred and eighty four. Or nearly 104 lacs as Flat Hunter says.


  4. #4

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    Thanks everyone

    as to
    b. It says 78204.34 rupees in lac
    So I multiply this figure with 100k which amounts to 78.2 billion rupees, roughly US$ 171 million
    This seems kind of a small asset base for that company.
    I guess I have to regard the .34 as 3 million 400 hundredthousand and it's
    7,800 billion rupees = US$ 17,1 billion ?


  5. #5

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    Quote Originally Posted by Morrison:
    78.2 billion rupees, roughly US$ 171 million
    Eh? 78.2 billion rupees is roughly US$1.7bn.
    Last edited by PDLM; 01-12-2010 at 01:45 PM.

  6. #6

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    Alright, thanks.
    I knew there was a miscalculation somewhere in the equation.
    really appreciate your help !!!


  7. #7

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    Good to see Oxbridge talent preventing a stock market crash in India.


  8. #8

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    I have a fairly substantial sum invested in the Sensex tracker ETF, so it isn't entirely altruistic.