# EPS - Why is it so Confusing!?

May be I overlooked certain things, but why are they so many different figures!?

I will try to formulate my confusion on a example: Poly Medicure

EPS Basic (from Annual Report FY13) 21.82 (FY13) 17.49 (FY12) - Same at Moneycontrol.com

EPS Basic (from Quarterly Report Q2 FY14) 10.91 (FY13) 8.72 (FY12) - Same at Screener.in

The difference between Moneycontrol and Screener goes for every company I checked till now.

Why are they (the company and those websites) reporting two different figures? What is that I am missing here? And which ones to consider?

The Company split its share price in July 2013 in ratio of 2:1. So the the number of shares outstanding doubled. So EPS halved which is not reflected in the AR of the Company.

That might be the reason for different EPS. Screener is showing the correct number as per my understanding.

Thanks Nikhil! That was actually the missing part.

I also need help understanding this. I can’t even attempt to understand the valuation of companies with such differences in numbers :-

Gruh Finance CMP 194.1 (NSE) EPS P/E

Moneycontrol 5.1 37.96

NDTV Profit 9.24 21.01

Now if you multiply both sets of figures, you get the same stock price. But there is a huge difference in valuation in terms of EPS which leads to the difference in P/E.

1. I’d be really happy if someone could guide me to a site which has the correct numbers for all Companies (not just GRUH)

2. If someone can explain why there is this huge difference in the EPS figures of MoneyControl and NDTV?

Hi Gurjot,

I think it is always best to rely on numbers reports to the stock exchanges (NSE or BSE). All other sources pull in data and sometimes adjust it/make typing or data pulling errors.

In case of Gruh, the FY14 (ended March 2014) diluted EPS is Rs 9.79, basic EPS is Rs 9.86

http://www.bseindia.com/corporates/results.aspx?Code=511288&Company=GRUH%20FINANCE%20LTD.&qtr=81.50&RType=D

The trailing 4 quarter EPS is Rs 9.13

http://www.bseindia.com/stock-share-price/stockreach_financials.aspx?scripcode=511288&expandable=0

Hi Gurjot,

NDTV is considering profit bought forward of 110Cr. Hence EPS is 9+. Where as monecontrol is not considering B/F.

Question is should B/F be taken into consideration while comparing earnings.

Regards,

Sunil

@Kamal - Have bookmarked that. Thanks

@Sunil - can you explain which would be the correct way of calculating EPS then? Or the more objective method from the shareholders perspective. Thanks!

Why dont you try pulling it up from Screener.in or Company’s Annual report?