22 - rajesh - ind-swift

8/8/2019 22 - Rajesh - Ind-Swift

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BALANCE SHE

Mar' 09 Mar' 08 Mar' 07 Mar' 06

Sources of funds

Owner's fund

Equity share capital 25.27 24.03 22.84 21.52

Share application money 1.78 3.16 1.37 1.26

Preference share capital - - - 3.51

Reserves & surplus 244.25 211.35 188.75 168.10

Loan funds

Secured loans 353.68 274.37 263.45 194.58

Unsecured loans 25.73 38.71 27.83 27.39

TOTAL 650.71 551.62 504.24 416.36

Uses of fundsFixed assets

Gross block 570.07 469.39 392.85 211.48

Less : revaluation reserve 94.04 97.71 101.39

Less : accumulated depreciation 77.97 48.52 31.28 22.28

Net block 398.06 323.15 260.18 189.20

Capital work-in-progress 48.67 45.08 21.03 47.92

Investments 23.38 23.38 22.65 17.40

Net current assetsCurrent assets, loans & advances 426.65 339.31 280.03 220.05

Less : current liabilities & provisions 246.80 180.46 127.58 99.77

Total net current assets 179.85 158.85 152.45 120.28

Miscellaneous expenses not written 0.73 1.17 48.28 41.57

TOTAL 650.70 551.62 504.59 416.36


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T

Mar' 05

18.4

1.99

3.51

88.74

120.5

24.85

257.99

103.44

14.88

88.56

59.35

3.14

154.31

66.16

88.16

18.77

257.98


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PROFIT LOS

Mar '09 Mar '08 Mar '07 Mar '06 Mar '05

INCOME

Operating Income 581.88 444.5 343.75 314.09 231.8

Expenditure

Raw Materials etc 396.64 309.23 229.05 207.15 155.69

Manufacturing, Selling etc. Expenses 21.58 17.05 15.62 14.63 10.1

Depreciation 26.86 15.14 12.24 8.11 4.1

TOTAL 445.08 341.42 256.91 229.89 169.89

PROFIT

Profit before Taxation 130.81 94.81 73.22 65.96 45.94

Profit after Taxation 48.14 33.4 20.64 36.05 27.18

Available for appropriation 39.79 31.02 88.89 75.95 45.96


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Earnings Per Share (Face Value Re. 1.00 each) 19(iii)

Basic Rs. 2.66 Rs. 2.29 Rs. 2.19 Rs. 1.96 Rs. 1.85


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ACCOUNT


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CASH FLO


Profit before tax 48.93 38.91 25.44 40.88 31.79

Net cashflow-operating activity 97.84 57.97 46.3 36.49 8.4

Net cash used in investing activity -98.91 -65.7 -84.36 -137.95 -104.67

Netcash used in fin. activity 12.19 9.61 37.45 100.17 102.41

Net inc/dec in cash and equivlnt 11.11 1.88 -0.61 -1.28 6.13

Cash and equivalnt begin of year 11.76 9.88 10.49 11.78 5.65

Cash and equivalnt end of year 22.88 11.76 9.88 10.49 11.78


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S


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PROFITABILI


Gross profit margin (%) 16.78 16.62 16.9 18.09 17.8


Net profit margin (%) 6.76 6.88 5.58 11.03 11.44


Asset Turnover Ratio 0.89 0.81 0.68 0.75 0.9


RETURN ON ASSET(%) 6.11 5.62 17.62 18.24 17.82


RETURN ON EQUITY(%) 14.76 13.18 42.01 40.05 42.9


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EARNINGS PER SHARE 3.43 4.54 3.57 3.28 3.45

ANALYSIS

As we see from the graphs, profit margin has been varying marginally over time, this sho

proportion to the sales , though both net profits and sales have been increasing over time

firm is in a healthy position.

Similar is the case is with the return on asset which has been almost the same for years w

that the assets have been increasing along with the profits as ROA is equal to Profit after t

Asset

Though the stats are very healthy and increasing yearly but from these ratio we cannot pr

the position of the firm as there is marginal difference in the ratios.


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Y RATIOS

1520

Series1

Gross profitmargin (%)

1020

Gross profitmargin (%)

Net profitmargin (%)

' ' ' ' '

1

Net profitmargin (%)

Asset TurnoverRatio

1020

Asset TurnoverRatio

RETURN ONASSET(%)

50

RETURN ONASSET(%)

RETURN ONEQUITY(%)


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s that profits are in

which suggests that the

hich again shows

ax divided by Total

edict cearly


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LIQUIDITY


CURRENT RATIO 1.73 1.88 2.19 2.21 2.33


QUICK RATIO 0.77 1.1 1.25 1.19 1.26


INVENTORY TURNOVER RA 2.94 4.05 4.13 3.97 3.47


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ANALYSIS

Current Ratio is the ratio of the current asset which are available and current liabilities an

years which is a positive signal for the company as we have more asset in proportion to th

Ideal Current ratio is 2 which suggests that the company has 2 times current asset in com

Quick ratio is the ratio of the liquid assets(which can be converted into cash immediately)

It has been increasing which again is a positive signal for the company

Ideal Quick ratio is 1 which suggests that the co has equal quick asset as liabilities

Inventory Turnover Ratio is the ratio of the cost of good solds and Average Inventories ava

which suggests that how easily the inventory is turned into sales . It has been increasing o

times which suggests that the company is keeping more inventory and getting more cons

in its approach


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ATIOS


24

Series1

CURRENTRATIO


12

CURRENTRATIO

QUICK RATIO


5

QUICK RATIO

INVENTORYTURNOVER

RATIO


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it has been increasing over

e liabilities.

aision to the current liabilities and this suggests that this company has more of assets.

ilable

ver

rvative


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SOLVENCY


DEBT EQUITY RATIO 1.41 1.33 1.38 1.17 1.36


Fixed assets turnover rati 1.29 1.08 0.88 1.53 2.27


INTEREST COVER 85.36 89.26 76.69 79.57 72.06


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ANALYSIS

Debt Equity Ratio is the ratio between the total debt(which is equal to the secured and un

and the equity(which is equal to the share capital and the reserves and surplus)

As debt equity ratio is high, this shows that most of the financing done by the company is

and it uses very high debt.

Due to this very low DEBT EQUITY ratio, the firm exposes its creditors with greater risk.

It measures the protection available to the creditors for payment of interst charges by the

It is also the main factor for Credit Rating Agencies to mark the co.

As it has decreased to a great extent from the previous year, not a good signal though it i

So not much worries for the co. as there still it has a good credit rating.

Interest Cover is the ratio of the profit before interst and tax and Interest Expense


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RATIOS


1

2

Series1

DEBT EQUITYRATIO


24

DEBT EQUITYRATIO

Fixed assetsturnover ratio

50100

Fixed assetsturnover rati

INTERESTCOVER


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ecured loans taken)

through debt

co.

good as a number


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CAPITAL M


PRICE EARNINGS RATIO 28.24 22.67 33.38 39.6 16.18


DIVIDEND YIELD(%) 1.52 1.46 1.31 1.15 0.28


PRICE-TO-MARKET-VALUE) 6.73 7.68 8.7 9.8 3.49

ANALYSIS

PRICE EARNINGS RATIO is the ratio between the stock price and earnings per share.

It is the major factor for the investors to analyze the stock as it shows the confidence of

the market in the stock.


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The ratio has been varying over years though the increase in the PE ratio over the last 2 y

the greater confidence the market has shown towards the stock.

Dividend yield ratio is defined as the ratio of the dividend given per share to the average

As the dividend yield ratio has been increasing over the times this suggests that the firm i

more dividend and hence +ve for the investors

Price to book ratio compares the market price of the company's share with the book valueAs the price to book ratio is more, it suggests that the stock is not underpriced, again goo


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RKET RATIOS

' ' ' ' '

50

Series1

PRICEEARNINGSRATIO

' ' ' ' '

12

PRICEEARNINGSRATIO

DIVIDENDYIELD(%)


1020

DIVIDENDYIELD(%)

PRICE-TO-MARKET-VALUE)


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ars indicates

tock price

paying

for the investors.

22 - rajesh - ind-swift

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