We have established a strong track record of growth and financial performance with steady cash flows from our operations. Between Fiscal 2010 and 2014, our total income increased at a CAGR of 53.81%, our profit after tax increased at a CAGR of 54.63%, and our EBITDA margin increased at a CAGR of 82.50%. CAGR information above relating to total income, profit after tax and EBITDA margin are based on our Restated Standalone Financial Statements for Fiscal 2010 and 2011 and our Restated Consolidated Financial Statements for Fiscal 2012, 2013 and 2014. Our total income in Fiscal 2012, 2013, 2014 and the six months ended September 30, 2014 was ₹ 4,838.21 million, ₹ 6,419.39 million, ₹ 8,576.58 million and ₹ 4,607.96 million, respectively. Our EBITDA in Fiscal 2012, 2013, 2014 and the six months ended September 30, 2014 was ₹ 494.64 million, ₹ 731.68 million, ₹ 913.70 million and ₹ 475.97 million, respectively, while our profit after tax, in such periods was ₹ 95.20 million, ₹ 137.91 million, ₹ 202.25 million and ₹ 125.50 million, respectively. As of September 30, 2014, our reserves and surplus was ₹ 3,026.73 million while our net worth was ₹ 3,298.11 million. Our debt to equity ratio as of September 30, 2014 was 1.12. In addition, most of our capital expenditure relating to the expansion and modernization of our production facilities at Shrirampur, including for our cheese, paneer (cottage cheese) and shrikhand production lines, have been completed and we expect to commence commercial production of these products in Fiscal 2016. Our strong balance sheet, positive operating cash flows and established relationship with reputed financial investor(s) enable us to fund our strategic initiatives, pursue opportunities for growth and better manage unanticipated cash flow variations.
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