Data for Thought
Exceptionals as usual
There are some companies that not only have high exceptionals but it also occurs regularly. We explore the issue and give you some names and figures
10-Sep-2018 •Research Desk
Exceptional profit or loss arises as a by-product of a company's ordinary activities. Some of its sources include currency fluctuations, asset write-downs and money spent on litigation. As the name implies, this income is intermittent and can't be projected or forecast. While analysing the income statement, analysts adjust the profit for exceptional income. However, there are some companies that not only have high exceptionals but it also occurs regularly. This makes analysing such companies and judging their valuations particularly tricky. The following table lists companies that have reported sizeable exceptionals in at least three of the last five years.
Exceptions are always there
| Company name | Exceptional income (Rs cr) | PAT (Rs cr) | ||||
| 2018 | 2017 | 2016 | 2015 | 2014 | |
| Bharti Airtel | -793 1123 | -1170 3197 | 2174 5826 | -853 5053 | 54 2498 |
| Vedanta | 2897 13692 | -114 9873 | -33785 -17863 | -22199 -11373 | -167 10339 |
| Tata Steel | 9599 17589 | -4324 -4176 | 3990 -387 | -3929 -3956 | -28 3664 |
| Hindalco Industries | 1774 6208 | -8 1907 | -577 -873 | -1940 84 | -396 2128 |
| Siemens | 567 1137 | 2992 2914 | 783 1174 | 383 603 | 33 194 |
| DLF | 8765 4292 | 429 800 | -197 462 | -68 469 | -330 604 |
| Tata Communications | -376 -309 | -1063 1230 | -103 10 | -105 3 | 216 160 |
| Info Edge (India) | 313 545 | -32 147 | -32 419 | -6 -14 | -3 61 |
| Indian Hotels | 22 63 | -11 -83 | -83 -182 | -353 -347 | -555 -523 |
| BASF India | 159 247 | 17 -14 | 172 -30 | 29 -67 | -10 128 |
| MMTC | -8 26 | 91 57 | 65 53 | 23 78 | -209 60 |
| Jaiprakash Associates | 1116 -1927 | -3090 -9413 | -207 -3164 | 514 -1551 | 395 -703 |
| ITDC | 31 34 | -11 9 | -8 18 | 4 32 | 1 8 |
| Strides Shasun | -44 87 | -101 446 | -41 100 | -7 1 | -27 51 |
| FACT | 68 -105 | 51 -199 | 12 -459 | 9 -373 | 104 -265 |
| Rane Holdings | 14 22 | 75 183 | 13 78 | 42 96 | -52 45 |
| Jindal Saw | -91 6 | 62 47 | -21 -80 | -30 -27 | -68 -100 |
| Welspun Enterprises | -20 72 | -23 7 | -23 -3 | 174 1 | -34 -61 |
| Arshiya | 395 50 | -57 -393 | -223 -604 | -6 -474 | -213 -846 |
| Jindal Poly Films | -31 139 | 25 275 | 9 453 | -117 187 | -27 69 |
| Ganesh Benzoplast | 51 81 | -2 13 | 36 48 | 19 0 | 0 0 |
