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Capital
Work In
53,919,226 19,513,070 161,838,918 (34,406,156) -63.81 142,325,848 729.39
Progress
Long term
Assets 14,501,127 11,988,692 29,278,969 -2,512,435 -17.33 17,290,277 59.053
Current Assets:
Stores,
spares and
loose tools 11,799,639 15,732,563 15,725,753 3,932,924 33.34 -6,810 -0.0433
Stock in
trade 183,469,356 162,762,136 363,042,352 -20,707,220 -11.3 200,280,216 123.05
Trade
debts 135,634,627 161,482,588 132,885,996 25,847,961 19.1 -28,596,592 -17.71
Loans and
advances 65,338,672 40,945,023 71,064,538 -24,393,649 -37.4 30,119,515 73.560
Receivable
s And 3,154,623 12,210,124 15,829,580 9,055,501 287.1 3,619,456 29.643
Deposit
Cash At
Bank 9,215,837 11,335,902 6,235,419 2,120,065 23.01 -5,100,483 -44.99
Total
Current
408,612,754 404,468,336 604,783,638 -4,144,418 -1.01 200,315,302 49.525
Assets
Total
Assets 895,545,392 915,850,222 1,345,011,698 20,304,830 2.27 438,161,476 47.84
Liabilities:
Current
335,234,512 241,516,594 536,811,744 -93,717,918 -27.96 295,295,150 122.267
Liabilities
Long Term
and
81,097,904 82,753,270 45,085,585 1,655,366 2.041 -37,667,685 -45.518
deferred
Liabilities
Shareholder's Equity:
Share
Capital 60,000,000 60,000,000 60,000,000 0 0 0 0
Inappropria
te Profits 62,600 75,043,645 59,677,731 74,981,045 119778 -15,365,914 -20.48
Reserves
373,100,000 373,100,000 474,000,000 0 0 100900000 27.044
Total
Liabilities
and 895,545,392 915,850,222 1,354.011,698 20,304,830 2.27 438,161,476 47.842
Stockholder
's Equity
Bhanero Textile Mill Limited
Comparative Income Statement
For the Year Ended September 30
2004, 2003&2002
2002 2003 2004 2002-2003 2003-2004
Item
Amount Amount Amount Amount % Amount %
Cost of
1,083,486,802 1,204,305,837 1,391,568,582 120,819,035 11.16 187,262,745 15.55
Sales
Gross
201,729,910 221,702,210 138,606,130 19,972,300 9.900 -83,096,080 -37.49
Profit
Operating 72,973,557
62,150,092 50,253,090 -10,823,465 -14.832 -11,897,002 -19.14
Expenses
Operating
128,756,353 159,552,118 88,353,040 30,795,765 23.918 -71,199,078 -44.62
Profit
Other
101,421 16,263,266 2,373,410 16,161,845 15935.4 -13,889,856 -85.41
Income
Other
56,180,541 39,200,989 34,450,892 -16,979,552 -30.2 -4,750,097 -12.12
Expenses
Profit
before 72,677,233 136,614,395 56,275,558 63,937,162 87.97 -80,338,837 -58.807
Taxation
Profit after
46,995,823 104,981,045 85,534,086 57,985,222 123.38 -19,446,959 -18.52
Taxation
VERTICAL ANALYSIS
Operating
Fixed
418,512,285 46.73 481,316,200 52.55 558,110,173 41.495
Assets
Capital Work
In Progress
53,919,226 6.021 19,513,070 2.13 161,838,918 12.03
Long term
Assets 14,501,127 1.62 11,988,692 1.31 29,278,969 2.18
Current
Assets:
Stores,
spares and 11,799,639 1.32 15,732,563 1.72 15,725,753 0.878
loose tool
Stock in
trade 183,469,356 20.49 162,762,136 17.78 363,042,352 13.64
Current
Liabilities 335,234,512 37.43 241,516,594 26.38 536,811,744 39.65
Long Term
and deferred 81,097,904 9.05 82,753,270 9.04 45,085,585 3.33
Liabilities
Shareholder's
Equity:
Share Capital
60,000,000 6.69 60,000,000 6.55 60,000,000 4.43
Inappropriate
Profits 62,600 0.007 75,043,645 8.19 59,677,731 4.41
Reserves
373,100,000 41.66 373,100,000 40.73 474,000,000 35.01
Total
Liabilities
and 1,354.011,69
895,545,392 100 915,850,222 100 100
Stockholder's 8
Equity
Bhanero Textile Mills Limited
Comparative Income Statement
For the Year Ended September 30
2004,2003&2002
Operating 72,973,557
.677 62,150,092 4.36 50,253,090 3.29
Expenses
Operating
128,756,353 10.02 159,552,118 11.19 88,353,040 5.78
Profit
Profit before
72,677,233 5.65 136,614,395 9.59 56,275,558 3.68
Taxation
Profit after
46,995,823 3.66 104,981,045 7.362 85,534,086 5.59
Taxation
INTERPRETATION
OF DATA
HORIZANTAL ANALYSIS
Bhanero Textile Mills Limited
Solvency Analysis
COMMENT
Treet Corporation limited has enough working capital in all its three
years to meet currently maturing obligations.
Years
Current Assets Current Liabilities Current Ratio
Rs. Rs.
2002 408,612,754 335,234,512 1.218886
2003 404,468,336 241,516,594 1.674702
2004 604,783,638 536,811,744 1.126621
COMMENT
In year Treet Corporation limited with its current ratio of 2.18:1 has
more favorable position to obtain short-term credit as compared to in year 2001
& 2002.
(3) Acid-test ratio
Acid-test ratio = Quick assets / Current liabilities
Quick Assets 2002 2003 2004
Cash Rs. 9,215,837 11,335,902 6,235,419
Marketable Securities --- ---- ----
Accounts Receivable 3,154,623 12,210,124 15,829,580
Total Rs. 12,370,460 23,546,026 22,064,999
COMMENT
Treet has favorable ratio of its acid test. It has more cash and
account receivables (net) in year 2003 as compared to in years 2001&2002 which
can be sold in market to meet its obligations.
2002 1,285,216,712
COMMENT
COMMENT
Year
Net Sales
Rs Average total assets Total Asset Turnover
2002
1,285,216,712
2004
1,530,174,712 1130430960
1.35
Ratio of
Total Total liabilities
Years stockholder’s
stockholder’s Rs.
equity
equity Rs.
2002
2003
2004
COMMENT
No. of times
Amount available to
Interest charges Interest
Years meet interest charges
Rs. Charges
Rs.
Earned
72,677,233 +
2002 52,355,423 2.388151
52,355,423
136,614,395 +
2003 31,807,810 5.294995
31,807,810
56,275,558 +
2004 31,250,227 2.800805
31,250,227
COMMENT
2002 895,545,392
2003 915,850,222
2004 1,345,011,698
Profitability Ratios
(2) Rate earned on total assets
COMMENTS
COMMENTS
COMMENT
Earning per share & Dividend per share on common stock is
commonly used by investors in weighing the merits of alternative investment
opportunities. Earning per share data can be presented in conjunction with
Dividend per share data to indicate the relationship between earnings & dividends
& the extent to which the corporation is retaining its earning for use in the
business.
Earning per
Market price Price Earning
Years share
per share Rs. Ratio
Rs.
2002 10 7.8 .78
2003 10 17.5 1.75
2004 10 14.26 1.45