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Introduction
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1.1
1.1.1
Introduction
Origin of the report:
Internship for three months in privet business organization,government offices,public corporation and
financial institutions is an integral part of the BBA program of the business faculty of the ASA
University (ASAUB). The objective of the program is to expose student in the organizational work
situation. Each student is required to undergo the program and prepare a report according to a format
specified by the supervision teacher. In order to fulfill this requirement of the internship program I
choose Krishibid Salt Limited. The main purpose of the program is to know the real world situation.
The topic of my report is Financial Performance of Krishibid Salt Limited. Internship program is
essential for each business student. In other word it is mandatory for the student of any professional
degree. It helps us to get acquainted with the real situation .
1.1.2
It is an opportunity for the students to acquire an in-depth knowledge about the practical orientation
and experiences of dynamic business world through the internship program. It is obligatory to
undertake an extensive study to prepare internship report for the students of Business Administration,
ASA University (ASAUB), who are desirous to the successfully completion of their BBA degree.
During the preparation of the internship report, the students are guided and supervised by the faculties
of the department with whom they are attached to. As part of the program, I am highly proud to join
with KrishibidSald Limited as internee and selecting topic Financial Performance Evaluation of
KrishibidSalS Ltd. I had work there in several departments, but I had to select an area of study in
which I can make detail research and present my understanding in the report.
This report, Financial Performance analysis of Krishibid Salt Limited, has been prepared to
fulfill the partial requirement of BBA program as a mean of Internship Program. While preparing this
report, I had a great opportunity to have an in depth knowledge of all the Business activities of
Krishibid Salt Ltd.
1.1.3
Education will be the most effective when theory and practice blends. Theoretical knowledge gets its
perfection with practical application. And the internship is designed to bridge the gap between the
theoretical knowledge and real application. The prime reason of this study is to become familiar with
the practical business world and to attain practical knowledge about the overall Business and
Corporate world, which is so much essential for each and every student to meet the extreme growing
challenges in job market.
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1.1.4
The report is mainly confined to the Financial Performance Evaluation of Krishibid Feed Limited. In
order to conduct study on this main issue, the following aspects come within the span of the study.
An overview of Krishibid Feed Ltd
Evaluation of financial performance of Krishibid Feed Limited through trend analysis of financial
ratios of Krishibid Feed Limited.
1.2
1.2.1
Objectives:
General Objective
The general objective of the report is to evaluate the financial performance of Krishibid Feed Limited .
1.2.2
Specific Objectives
The following objectives can be listed as the specific objectives for this study:
To examine the liquidity position of Krishibid Feed Limited.
To analyze the leverage and profitability of the Krishibid Feed Limited.
To ascertain the problem areas and raise possible recommendations for improving the financial
performance of Krishibid Feed Limited.
1.3
Methodology:
The study is analytical in nature. Secondary data has concerning Financial Performance analysis of
Krishibid Feed Ltd for period of three years are collected to analyze the financial performance
analysis of Krishibid Feed LTD. A part from these, helpful information was collected from online
resources. In order to analyze the Financial performance of Krishibid Feed Ltd Ratio analysis are
used. The study is performing based on the information extracted from different sources by using a
specific methodology. To complete the analysis, some software such as Microsoft Word and Microsoft
Excel are used.
1.3.1
Data Sources
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For the Financial Performance Evaluation of Krishibid Feed Limited I mainly used secondary data.
Besides this I also collect some information by taking expert opinion from the officers and direct
observation while I doing the internship program at the privet company.
The quantitative (such as ratio analysis) tools are used to analyze the gathered data and different types
ofcomputer software are used for reporting the gathered information from the analysis such asMicrosoft Word, Microsoft Excel etc. Ratio can be classified into four broad groups1) Liquidity Ratio
2) Activity Ratio.
3) Debt Ratio.
4) Profitability Ratio.
1.4
Limitations:
The study mainly covers the financial performance of Krishibid Feed Ltd only. Apart from this the
following limitations of the study can be mentioned.
Time Limitation:To complete the study, time was limited by three months. It was really
very short time to know details about an organization like Krishibid Feed Ltd.
Inadequate Data:Lack of available information about of Krishibid Feed Ltd. Because of
the unwillingness of the busy key persons, necessary data collection became hard. The
employees are extremely busy to perform their duty.
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Lack of Record:Large-scale research was not possible due to constrains and restrictions
posed by the organization. Unavailability of sufficient written documents as required making
a comprehensive study was another problems. In many cases up-to-date information was not
available.
Lack of experiences:Lack of experiences has acted as constraints in the way of meticulous
exploration on the topic. Being a member of the organization; it was not possible on my part
to express some of the sensitive issues.
Lack of information:Lack of information in Krishibid Feed Ltd website, I could not get
updated valuable information from concerned authority.
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Chapter Two
An Overview of Company
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Vision Twenty 20
The Krishibid Group aims to become one of the largest agro- based business firms by the end of 2020.
The paid- up capital of KG will be raised to BDT.10 billion. The high profitability track records of the
group show that the shareholders derive attractive benefits though investing their hard earned money
in the KG. The Broad of Directors has decided to enhance the number of shareholders up to 2500. The
number of the companies of the group has increased rapidly and hopefully, it will reach 50 at the end
of 2020.
With the investment in some other sectors like: tourism, shrimp culture, beef- fattening, super market
chain shop and nursery, the activities of Krishibid Group has been expanded considerably. Krishibid
Group is also considering diversification of its business in the areas of seed, dairy, healthcare,
education, export and import, farm machineries and automobiles, highway restaurant , parjoton motel,
chain super market, food and beverage, protein house, printing and packaging , furniture, media(press
and electronic), banking, finance and investment etc. within twenty-20. They follow the fundamental
principles of corporate Governance:
Accountability
Responsibility
Transparency
They look forward towards the erection of a 50- storied KRISHIBID TOWER. KG aims at meeting
the needs of our society. All the shareholders of KG family are highly passionate and fully committed
to achieve the future vision.
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All individuals companies are governed by the respective 9-members Board of Directors
(BOD).The BOD is initially formed by the KFL which is comprised of three Directors from the
shareholders and six from the other companies. The managing Directors of the concerned company
are always appointed by the KFL Board.
The Chairman and Managing Director of the holding company are respectively the Chairman and
Managing Director of the group, who are currently PROf. DR. R.I. Sarker and Managing Director
DR. Md. Ali Afzal. All MD\CEOs are the ex-officio members of the EC. However, the EC
chairman is someone other than from the MDs\CEOs.
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Organogram:
Board of Directors of KG
Chairman, Krishibid
Group
Managing Director of KG
MD of Sister concern KG
Executive Officer
Officer
Corporate Office
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Krishibid Group
801,RokeyaSarani, Kazipara,
Mirpur, Dhaka-1216.
Phone-88-02-8050828,88-02-8051030.
Fax-88-02-8034120.
E-mail-ino@krishibidgroup.org.bd
Web-www.Krishibidgroup.org.bd.
An automatic feed mill has been set up to manufacture poultry, cattle and fish feeds of different types.
It markets high quality feeds. The mill has a capacity o manufacturing 9 ton floating and sinking feeds
Financial Performance analysis of Krishibid Feed Limited
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per hour. It is located at Nishinda Bazar of Bhaluka, Mymensing on Dhaka-Mymensing high way. The
mill is producing both floating and sinking feeds or fish and shrimp. It produce poultry feed of all
kinds. Besides, it will produce quality cattle feeds. All environmental protection is ensured within and
around the mill area. Krishibid Feed Millis equipped with all modern processing and
productionmachineries and hence guarantees supply of quality products to its customers. Krishibid
Fees Limited (KFL) is a member of Feed Industry Association of Bangladesh (FIAB). Planning is
going on to enhance the production of the mill in the near future.
The KFL, established in the year 2001, is mother firm and holding company of the KG. It holds 51%
share of all companies. The KFL usually initiates and nurses new projects and at maturity those are
registered as independent companies. It is governed by a board of Directors. The policies and
decisions taken by the Board are executed by an Executive Committee (EC) elected by the directors.
All business expansion policy, planning and financial works of the KLF and her sister concerns are
approved by KL Board and subsequently implemented by the respective companys management. The
KLF success in sponsoring agro-based industries has made significant contribution
to the countrys
GDP. KLF has achieved ISO 9001:2008 Certification for its excellent corporate management and
culture. Krishibid Firm Ltd. Is also member of Dhaka Chamber of Commerce & Industries &
Bangladesh Seed Association.
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purchased and owned mostly by professional agriculturists. The company has also purchased lands at
KUAKATA, the most attractive Tourist Area in the South West of the country for future development
as Holiday Suite or Five Star Hotels. GLDL is member of REHAB & BLDA and is also enlisted with
RAJUK.
The KPL was established in 2005 for commercial production of broilers and chicken eggs. The firm is
at Guziam village of Bhaluka, Mymensing. A six stories layer farm accommodates more than 80000
birds having daily production of about 40000 eggs. The farm has a land area of 15 hectares with 30%
watersheds and 20% highlands. The poultry farm is isolated from human habitation and is located
about 2 kilometers inside the main high ways. Krishibid Poultry Limited (KPL) is a member of
Poultry Science Association.
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The Krishibid Properties Limited emerged as a sister concern of the Krishibid Group in 2008 to
resolve the residential housing problems of middle class and low income agriculturists and other
service holders in and outside the capital city of Dhaka. The Krishibid Properties Limited is engaged
in building modern apartments and commercial spaces using best quality materials but at a relatively
lower cost. So far, KPL has completed and handed over 200 such apartments and many underway for
completion. Krishibid Properties Limited is a member of REHAB (1136/2001). others are
All the buildings of KPL are designed by highly qualified and experienced architects & engineers as
per ACI and Bangladesh National Building code.
Krishibid Salt Ltd. Cultivates salt is an area of 400 hectares o land at Moheshkhali, Coxs Bazaar and
also refines salt for home and industrial consumption at Islampur. The company has planned to
establish an automatic salt industry at Islampur, salt industrial zone, to utilize raw salt produced at
Moheshkhali, for manufacturing quality salt. KSL is a member of Salt Mills Association. There some
other projects under KSL are: Plantation & Nursery, Chicken & Buffalo, Fish pond &Agro- Tourism.
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Krishibid Group has added a new fleet in business named Krishibid Tours and Travels Ltd. The
company having registered in November 2012 facilitates tourism comfortable and professionally.
Visitors comfortably, creation of new job,improving human and natural resourcesales other aims of
this new business venture. Among the major product KTT launched are Hajj &Omrah packages,
Airlines Ticket booking, Worldwide Hotel reservation, Inbound & Outbound tours, Visa processing
etc. In Inbound tourism our strengths are Sundarban, Coxs Bazar, Kuakata, Rangamati and Outbound
tourism includes Saudi Arabia, Malaysia, Nepal, Singapore, Thailand, Maldives etc.
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KTTL has well experienced team having profound backgrounds in handling Hajj &Omrah services.
Experts having long experience in tours & travels industry are also involved. Krishibid Tours &
Travels Ltd. It`s working with a vision to lead the tourisiom industry in Bangladesh.
Bangladesh is an agrarian Country. If we want to save our country, we will have to save the
agriculture and as such agricultural based industry should the flourish to save the disease prone
agriculture. With this aim in view and based on co-operative, savings, progress and
development Krishibid Multipurpose co-operative society Ltd. (KMCSL) was establish. It is a
registered savings and financial investment institution under the ministry of co-operatives of the
Peoples Republic of Bangladesh (Reg-01181).
Bangladesh is a land of 160 million people with 320 million hands. These hands may be turned with
skilled working force with the accumulation of small savings of Krishibid and their relatives. The
society is very much committed to conduct business with these small saving by shaking the existing
cumbersome complex present banking system to Islamic Finance based on Islamic ethics : justice,
fairness, sharing, benevolence, co-operation. This will create job opportunity especially for the wealth
less educated unemployed youths and jobless Krishibids and the society is very much committed to
this Insha- Allah.
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This is a new company of KG thats aims to import quality vehicles from Japan, Indonesia, Malaysia,
Thailand and Korea for local sales and also to develop an assembly plant to assemble imported CKD
vehicles. In addition, the company is additing up a modern repair and maintenance workshop for
providing top class routine and back up maintain ace service with facilities for automatic diagnosis
and fault detection systems. Besides, KFMAL has a plan to import high quality farm machinery
suitable for local condition with an aim to enhance agricultural production in Bangladesh. Thus,
KFMAL aims to enhance agricultural mechanization and raise the living standard of the millions of
farmers by creating favorable environment through access to appropriate farm machinery.
Krishibid Fisheries LTD, another new sister concern of KG, has started its journey in 2011 with an
establish hatchery located at bahadurpur, under TrishalUpazilla of Mymensingh with 13 hectares of
pond and low lands. It has already started breeding quality fish seeds and marketing then at wholesale
as well as retail markets. Fisheries ponds in Bahuli and Poultry farm areas in Valuka have been
merged with this company for growing table fish and fingerlings of various culture fishes. Further
extension of fish ponds is under way.
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Krishibid printing and Publication Limited is a sister concern ofKrishibid Group. It is located at 58/1,
West Mirpur, Dhaka-1216. Its authorized capital is BTD. 10.00 cores. Objective of the company is to
ensure best quality printing at reasonable cost. The KPPL caters for high quality printing of books,
journals, periodical, magazines, newspapers, catalogue, marketing and publicity materials etc.
Krishibid Bazaar
Krishibid bazaar is the youngest company but it is a challenging addition in Krishibid Group, strickly
adhering to its motto Not only profit; Quality,Commitment and service we care Community service
is always a priority concern of Krishibid Bazaar which has the aim of serving the community at large
by supplying safe, fresh and quality products at a comparatively low price. Krishibid Group Bazaar
Ltd. is registered with the joint Stock Company.
Krishibid Bazaar is different from all other supermarket in many respects. We procure only brand
products. Besides, fixing the most comparative price, its fresh corner unique with only Krishibid
products, which are always health friendly. KrishibidBazaars vegetables are completely by
experienced agricultural scientists of the country.
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Krishibid Security and Services Ltd. Is a sister concern of Krishibid Group, with its motto Not only
profit; Quality, Commitment and Service We care KSSL is one of the Limited companies of
Krishibid Group, established with a vow to provide lacuna free security & dedication service as per
requirement of our valued clients. Confidence and trust of clients are krishibids capital and krishibid
committed to leave no stone unturned to earn that. KSSL is uniquely organized and development to
customized security and services to meet the specific needs of clients. KSSL has its integral training
needs but also extend the same facilities to other. Its provide smart and well trained guards and service
personnel to ensure and low-cost high quality of security & Services .
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Chapter Three
Theoretical Background
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Financial Performanceis a subjective measure of how well a firm can use its assets from business
and generate revenues. Financial Performance term is also used as a general measure of a firm's
overall financial situation over a given period of time, and can be used to compare with similar firms
across the same industry or to compare industries or sectors in aggregation.
Financial performance analysis refers to an assessment of the viability, stability and profitability of
a business, sub-business or project. It is performed by professionals who prepare reports using ratios
that make use of information taken from financial statements and other reports. These reports are
usually presented to top level management as one of their bases in making business decisions.
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Time-Series Analysis
Time-series analysis evaluates performance over time. Comparison of current to past performance,
using ratios, allows the firm to determine whether it is progressing as planned. Additionally, timeseries analysis is often helpful in checking the reasonableness of a firms projected financial
statements.
Cross-Sectional Analysis
Cross-Sectional analysis evaluates performance of different firms` financial ratios at the same point in
time.
Combined Analysis
The most informative approach to ratio analysis is one combines cross-sectional and time-series
analysis. A combined view permits assessment of the trend in the behavior of ratio in relation to the
trend for the industry.
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Be sure that the dates of the financial statements being compared are the same.
It is preferable to use audited financial statements for ratio analysis.
Be certain that the data being compared have all been developed in the same way.
3.5 Groups of Financial Ratios:
Financial ratios can be divided into four basic groups or categories:
I.
Liquidity ratios
II.
Activity ratios
III.
IV.
Profitability ratios
Liquidity, activity, and debt ratios primarily measure risk, profitability ratios measure return. In the
near term, the important categories are liquidity, activity, and profitability, because these provide the
information that is critical to the short-run operation of the firm. Debt ratios are useful primarily when
the analyst is sure that the firm will successfully weather the short run.
3.5.1.aCurrent Ratio:
One of the most general and frequently used of these liquidity ratios is the current ratio. Organizations
use current ratio to measure the firms ability to meet short-term obligations. It shows the banks
ability to cover its current liabilities with its current assets.
3.5.1.bQuick Ratio:
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The quick ratio is a much more exacting measure than currentratio. This ratio shows a firm`s ability to
meet current liabilities with its most liquid assets. In finance, the Acid-test or quickratio or liquid
ratio measures the ability of a company to use its near cash or quick asset to extinguish or its current
liabilities immediately.
3.5.3.aDebt Ratio:
Many new ventures will incur debt as a means of financing the start-up. The debt ratio helps the
entrepreneur to asses. The firms ability to meet all of its obligations (short and long term). It is also a
measure of risk because debt also consists of a fixed commitment in the form of interest and principal
repayments.Debt Ratio = Total Liabilities / Total Assets
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This ratio measures the ability to meet contractual interest payment that means how much the
company able to pay interest from their income.
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Chapter Four
Analysis
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4.1.1.aCurrent Ratio
The current ratio, one of the most commonly cited financial ratios, measures the firms ability to meet
its short term obligations. The higher the current ratio indicates the better the liquidity position of the
firm. It is expressed as:
2010
2011
2012
Current Asset
18557370
22571460
24951944
Current Liabilities
14366362
11212462
15034534
1.49
1.51
1.59
Current Ratio
Current Asset
1.6
1.59
1.55
1.51
1.5 1.49
1.45
1.4
2010
2011
2012
that Krishibid Feeds has increased its liquidity position over the years and there by it has reduced the
chance of being technically insolvent.
4.1.1.bQuick Ratio
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Quick ratio shows a firmsability to meet current liabilities with its most liquid assets. It can be
measured as follows:
2010
2011
2012
Current Asset
1553187370
240905100
1043686362
Inventory
1674571460
293236745
1112132462
Current Liabilities
2400951944
944515972
1510334534
Quick Ratio
1.26
1.24
1.25
Quick Ratio
1.27
1.26 1.26
1.26
1.25
1.25
1.24
1.24
1.23
2010
1.25
1.24
2011
2012
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Activity ratio measures how effectively the enterprise is using the assets employed. In other word, it
measures the speed with which various accounts are converted into sales or cash- inflows or outflows.
4.1.2.aInventory Turnover:
A Ratio shows how many times a company s inventory is sold and replaced over a period. It is
measured by following:
2010
2011
2012
857079039
1339150090
1860677186
Inventory
240905100
293236745
515972570
Inventory Turnover
3.56
4.57
3.61
Inventory Turnover
5
4
3
4.57
3.61
3.56
2
1
0
2010
2011
2012
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Average collection period is useful in evolution credit and collection policies. It is arrived at by
dividing the average daily sales into the account receivable balance:
Account Receivable
2010
2011
2012
815443188
706052038
1044479320
1200631308/36
1928429091/365
2558921890/365
133.64
148.90
5
Average Collection Period
247.90
(days)
Table: 4.1.2.b Average Collection Period
Graphical Presentation:
133.64
100
148.9
50
0
2010
2011
2012
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The total asset turnover ratio measures the ability of a company to use its asset to efficiently generate
sales. The calculation for the total asset turnover ratio is
2010
2011
2012
120063130
1928429091
2558921890
1728012264
2593668779
1.12
0.99
8
Total Asset
159654818
8
0.75
1.12
0.99
0.8 0.75
0.6
0.4
0.2
0
2010
2011
2012
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The debt ratio measures the proportion of total assets provided by the firms creditors. It also helps to
measure the risk because debt consists of a fixed commitment in the form of interest and principal
repayments.
2010
2011
2012
122257181
1274452108
1987853340
1728012264
2593668779
0.74
0.77
4
Total Asset
159654318
8
0.76
Debt Ratio
0.78
0.77
0.77
0.76 0.76
0.75
0.74
0.74
0.73
0.72
2010
2011
2012
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Times interest earned ratio measures the firms ability to make contractual interest payments;
sometimes called the interest coverage ratio.
Time Interest Earned Ratio =Earnings before Interest & Taxes / Interest
Year
Earnings before interest & Taxes
2010
2011
2012
11546264
205119507
221392364
42834636
86907120
145599967
2.69
2.36
1.52
4
Interest
Time Interest Earned Ratio
2.69
2.36
2
1.52
1.5
1
0.5
0
2010
2011
2012
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Profitability ratio measures the degree of success or failure of a given enterprise or division for a
given period of time.
2010
2011
2012
Gross Profit
343552269
589279001
698244703
Sales
1200631308
1928429091
2558921890
30.65%
27.29%
28.61%
30.65%
30.00%
29.00%
28.00%
28.61%
27.29%
27.00%
26.00%
25.00%
2010
2011
2012
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The net profit margin measures the percentage of each dollar revenue remaining after all expenses,
including taxes, have deducted. The higher net profit margin is better for the firm. The net profit
margin is a commonly cited measure of the companys success with respect to earnings on revenue.
2010
2011
2012
53406496
111383056
152496284
1200631308
1928429091
2558921890
4.45%
5.78%
5.96%
5.78%
2011
5.96%
2012
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2010
2011
2012
98386496
169823056
152495284
1596543188
1728012264
2593668779
6.16%
9.82%
5.89%
9.82%
8.00%
6.00% 6.16%
5.89%
4.00%
2.00%
0.00%
2010
2011
2012
Interpretation:
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Return on assets is an indicator of how profitable a company is. The Krishibid feed Limited return on
asset is higher in the year 2011. But it is lowest in the year2012 which indicates that the company`s
profitability is not stable and it is fluctuating. It is bad sign of the company .
2010
2011
2012
98386496
169823056
152495284
Shareholder`s Equity
373971374
453560155
605815439
26.3%
37.44%
25.17%
37.44%
25.17%
2011
2012
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Chapter Five
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5.1 Findings:
The Financial performance analysis of Krishibid Feed Limited reveals the following major Findings
Krishibid Feed Limited has increased its liquidity position over the years and thereby it has
reduced its short term liquidity risk but Company`s ability to pay short term obligation using
quick asset is fluctuating over the year.
Company maintained high level of inventory in 2012 and it has increased its average
collection period. It may indicate that company has decreased its collection of accout
receivable over the year 2011 and 2012.
Company is getting more levered and taking more financial risk.
Company`s margin of safety in paying contractual interest has been reduced and as result
company has increased its financial risk.
There is upward trend in Net Profit Margin of Krishibid Feed Ltd. though there is a
fluctuating trend in gross Profit Margin of Krishibid Feed Limited.
Company`s earning capacity using its asset and return earned from the owner`s investment is
fluctuating over the years.
5.2 Conclusion
Financial Performance analysis of Krishibid Feed Limited
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In developing a country`s economic condition, private organization play a vital role. Krishibid Feed
Limited is a privet limited company committed to come forward with a mission to augment
sustainable development of agriculture through establishment of agro-industries. Krishibid Feed
Limited aims to provide efficient, consistent and cost effective service to consumers need, to carry on
its reputation in the coming years, efficiency of the organization depends not only on the efficient
employee but also on maintain and developing their skills through training and development.
Moreover, the internship program that is mandatory for my B.B.A program obviously will help me in
thinking about my career. Every effort has been given to prepare the report on Financial Performance
of the Krishibid Feed Limited. Although analyzing financial performance has some limitation still the
organization is running its operation successfully and that indicates that the system is adequate
enough to maintain the efficiency. The analysis of financial performance shows that there is an
increasing trend in liquidity position, debt ratio and net profit margin but fluctuating trend in
inventory turnover, total asset turnover, gross profit margin and return on equity. The Krishibid Feed
Ltd. should reduce its debt ratio, should try to keep concentration on their collection on their
collection efficiency and should try to avoid conservative credit policy, should try to increase its sales
to keep speed with and outperform the existing trading companies.
5.3 Recommendation:
The findings from analysis require the following recommendations that my help the Krishibid Feed
Limited to improve its performance and to be a key member in trading sector of Bangladesh.
Financial Performance analysis of Krishibid Feed Limited
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There is an upward trend in liquidity position of the company. To reduce its liquidity position
Krishibid Feed Limited can reduce its current asset and thereby it can generate more return
and should maintain it.
Krishibid Feed Limited should keep a proper balance in their inventory level because not only
low inventory creates a chance to stock out but also high inventory level increases operating
cost of the company.
Krishibid Feed Limited concentrates to reduce its average collection period up to a rational
limit.
Krishibid Feed limited try to decrease its highly levered condition because its margin of
safety in paying contractual interest has decreased, otherwise it may face worse situation in
years ahead.
Krishibid Feed Limited should try to manage its operating expenses to increase operating
profit margin and net profit margin.
Krishibid Feed Limited should try to increase its sales. Publicity is essential part or all
business. The more the people will know about the product, the more will be the business
grow. Company can invest some percent of our yearly profit for the publicity purpose.
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