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Financial Statements (Monno Febics)


Ratio Analysis
Ratio Analysis Graph
Industry Analysis for Rato
Cash Flow based Ratio Analysis
Cash Flow based Ratio Analysis's Graph
Industry Analysis for cash flow based ratio
Dupont Analysis
Cash Conversion Cycle
Industry based Cash Conversion Cycle
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Comprehensive Liquidity Index & Industry
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Working Capital
working Capital & Industry Average
Common size Financial statement analysis
Valuation:
DCF
Terminal Growth Rate
Assumtions
Discount Rate
Risk Analysis
(Monno Febics) (Apex Spinning) (Sreepur Textile) (StyleCraft)

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cash flow based ratio

Conversion Cycle

dity Index & Industry

ustry Average
ial statement analysis
Menu Monno Febrics Ltd.
Balance sheet
As the december 31,2004,05,06,07,08,09

2004 2005

ASSETS
Non-current Assets 2269886998 2147310185
Propertay, plan and Equipment at cost Less Depreciation:
Land and Land Development 79456998 95316363
Building and Other Construction 412512226 505905720
Plant, Machinery and Other Equipment 1684815585 1513265403
Office Equipment 6060233 7053836
Vehicles 475214 405772
Furniture and Fictures 5040770 7053460
Sundry Assets 2818734 2718121
Capital work in Process 78707238 15591510
Total Amount 2269886998 2147310185

Curent Assats 1092461233 1040093909


Inventories: 327127392 308169660
Raw Materials 77076645 57698502
Finished Goods 83314919 71749754
Store & Spares 19281660 21957678
Work-in-process 137084478 134737776
Materials-in-transit 10369690 22025950

Trade & other receivables 662697006 610485108


Advance, deposit & pre-payament: 73140771 111751190
Advances 23419261 38674796
Deposits 24663521 31230431
Pre-payment 25057989 41845963
Cash & cash equvelent: 29496064 9687951
Cash in Hand 2699478 2584093
Cash at Banks 26796586 7103858
TOTAL ASSETS 3362348231 3187404094
EQITY & LIABILITIES

Share Holders' Equity 1464984895 1516334280


Issued and paid-up share capital 1150000000 1150000000
Share Premium 370575835 370575835
Tax Holiday Resurve 78224531 0
Retained Earnings -191315471 -73241555
Proposed Dividend 57500000 69000000
Non-Current Liabilities 936831567 801676104
Long Term Borrowing ( Secured) 927082467 790264974
Deferred Liability 9749100 11411130

Current Liabilities 960131769 869393710


Short Term Borriwings 715085474 693929869
Long Term Loans ( Current Position) 65227164 69769257
Trade & other Payables 104958209 63250014
Accured Expences 21671063 24068210
Unclaimed Dividend 6718307 8561502
Provision for Income Tax 37471248 117615
Liabilities for Other Finance 9000304 9697243

TOTAL LIABILITIES AND SHARE HOLDERS' EQUITY 3361948231 3187404094

Monno Febrics Ltd.


Profit & Loss Accout
For the Year Ended December 31, 2004, 2005, 2006, 2007, 2008,2009

Particulars 31.12.2004 31.12.2005


Net Revenue 1777722225 1369435429
Cost of Goods Sold 1357707516 1044891748

Gross Profit 420014709 324543681

Operating Expenses -62812829 -32015773


Administrative Expense -28925724 -16576098
Selling and Distribution Expenses -33887105 -15439675

Profit from Operations 357201880 292527908


Other Incomes 427688 130900
Finance Cost 226509814 217594814

Net Profit Before Contribution to WPPF 131119754 75063994


Contribution to WPPF & WFF 0 -3568242

Net Profit Before Tax 131119754 71495752


Incone Tax Provision 18734448 0

Net Profit After Tax-Tranfered to statement of change in equity 112385306 71495752


Basic Earnings per share(per value TK.100) 9.23 6.22
Number of share used 11500000 11500000
Monno Febrics Ltd.
Cash Flow Statement
For the Year Ended December 31, 2004, 2005, 2006, 2007, 2008, 2009

2004 2005
Cash Flow From Operating Activities: 271919845 245558034
Cah Receipts from Customers and others 1818915767 1422097068
Cash Paid to Suppliers and Employees 1472924093 1109891541
Cash Generated from Operation 345991674 312205527
Interest paid 70683032 65372821
Income Tax deducted at sourrce 3388797 1274672

Cash Flow From Investing Activities: -51508778 27988391


Acquisition of Property,Plant & Equipment 73609778 87179182
Cash Realissed on Leasing of Machinery 22101000 115167573

Cash Flow From Finanicng Activities: -219157848 -293354538


Decrease in Long Term Borrowings 124169569 132675400
Installment of IDCP 35626337 0
Interest on Ling Term Borrowings 95229159 83866728
Increase in Short Term Borrowings(Cash Credit) 59852293 19973781
Increase in Short Term Borrowings from Banks 31053819 1181824
Dividend Paid 55038895 55656805
Temporary Loan Refunded by MCIL 0 0
Increase in Long Term Borrowings 0 0
INCrease /( Decrease) in Cash and cash equivalents 1253219 -19808113
Cash & Cash Equivalents at Beginning of Year 28242845 29496064
Cash & Cash Equivalents at End of Year 29496064 9687951

Apex Spinning Mills Limited


Balance Sheet
As at 31st March, 2004, 2005, 2006, 2007, 2008

APPLICATION OF FUNDS: 31.03.2004 31.03.2005


Fixed Assets:
Gross Block:
Unit 1& 2
Land & development 15380057 21121902
Factory Building 11757193 10581474
Civil Construction 6172718 5555447
Plant & Machinery 37201787 31621519
Effuent Treatment Plant 0 0
Gas Installstion 1575483 1339161
Electronic Installation 374930 318691
Boiler 948232 805997
Generator 1277405 1085794
Water Treatment Plant 619710 730803
Factory Equipments 946050 804142
Other Equipments 183805 156234
Deep Tube-well & Tanks 305005 259254
Motor Vehhicles 64320 51456
Furniture & Fixtures 2291701 2062531
Laboratory Equipments 189316 160919
Office Equipments 1060878 901746
Motor Cycles 8051 6441

Sub-Total 80356641 77563511


Unit 3
Factory Building 14068553 19840685
Civil Construction 6223324 6479741
Plant & Machinery 144712355 189585590
Effluent Treatment Plant 8805731 7900294
Gas Installation 459492 490568
Electronic Installation 1726626 2563623
Factory Equipment 2788128 2923909
Furniture & Fixtures 6614049 7336501
Office Equipments 2690901 2920139
Generator 10195220 11245271
Boiler 4125374 3506568
Deep Tube-well & Tank 0 894680
Motor Vehicles 785000 877515
Other equipment 0 496928
Sub-total 203194753 257062012
Grand Totoal 283551394 334625523

Less: Accumulated Depreciation 0 0


Net Block 283551394 334625523
Investment: 39800000 39800000
Apex Lingerier Ltd. 15000000 15000000
ApexYarn Dyeing Ltd. 23800000 23800000
Central Depository Bangladesh ltd. 1000000 1000000

Current Asset: 242155744 311893952


Inventories: 41286394 88145964
Finish Goods 1800150 2351860
Work-in-process 4937315 8413335
Raw Material 30752739 38024641
Accessories 3796190 39356128

Trade Debtors: 108151333 114631023


Export Bill Receivable 89711972 81607154
Cash Incentive Receivable 18439361 33023869

Advance, Deposits & Prepayments: 46198903 55691542


Advance Income Tax 4072523 5508221
Staff Advantage 762099 873799
Securities & Deposits 6224967 6226967
Advance against capital work 30168416 33424623
Advance against expanses 4970898 9657932
Other Receivable 0 0
Cash & Bank Balance: 46519114 53425423
Cash in hand 34956 3293
Cash at Bank 46484158 53422130
Less: Current Liabilities 236441440 310523082
Working Capital Loan: 8837239 41321950
Estarn Bank Ltd. 8761756 31427719
HSBC, Dhaka 75483 0
Dhaka Bank Ltd. Foreign Exchange Branch,Dhaka 0 9894231
Long Term Loan-Current Maturity 0 0
Short Term Loan 0 0
Trade Creditiors 203165717 231150220
Sundry Creditiors: 24438484 38050912
Clearing & Forwarding 2057858 1334275
Creditors against Capital work 7916 523074
Creditors against sub-contract 0 0
Creditors Advertisement 0 0
Creditors for material& accessories 0 0
Creditors for quality testing 0 0
Creditors for repairs & maintaince 0 0
Creditors for printing & stationary 65413 329077
Creditors for sales promotional expenses 0 0
Creditors for vehicle maintenance 0 0
Insurance premium 543348 3287161
Power, Fuel and water 3755895 3397873
Telephone Telex & fax 95939 44819
Salary, wages and overtime 8183794 9306040
Audit Fees 40000 40000
Income Tax Payable 3513602 4065032
Contribution to PPF & WF 1993139 2453480
Provident Fund Payable 2488026 5043845
Unclaimed Dividend 1693554 8226236
Net Current Assets 5714304 1370870
Less: Deferred Tax Liability 0 0

Total Asset 329065698 375796393

SOURCES OF FUNDS:
Shareholder's Fund: 249540397 284134701
Share Capital: 84000000 84000000
Authorized Capital(3000000 ordinary share@100tk. Per share) 300000000 300000000
Issued,Subscribed & Paid Capital 84000000 84000000
(840000 Ordinary share@100tk. Per share Fully paid)

Share Premium 15000000 15000000


Reserve and Surplus: 137940397 170014701
Reserve for reinvestment 83598584 98842072
Retained Earning 51589995 68420811
Capital Gain 2751818 2751818
Proposed Dividend 12600000 15120000

Loan Fund (Secured):


Long Term Loan 79525301 91661692
TOTAL LIABILITIES 329065698 375796393

Apex Spinning Mills Limited


Profit & Loss Accout
For the Year Ended March 31, 2004, 2005, 2006, 2007, 2008,2009

2003-04 2004-05
TURNOVER 1009893080 1427363785
Cost of goods Sold: 885983889 1274859754
GROSS PROFIT 123909191 152504031

OPERATING EXPENSES:
Administrative & selling overhead: 75666279 90115765
AGM Expenses 600000 1500000
Audit Fee 8393390 5500
Bank Charges & Commission 40000 12568448
Board Meeting Fees 536453 40000
Depreciation 1566023 267798
Directors Remuneration 1277912 1651872
Entertainment 646804 1863944
Export Processing & Handling Expenses 738119 560904
F.C. Charges 40439 1087798
Forwarding Expenses 962180 114570
Freight 625732 1620913
Insurance Premium 765447 174443
Legal & Professional Fees 40203 780000
Newspapers & Periodicals 484944 19878
Postage & Stamp 2113256 1016127
Power & Fuel 2603871 2283072
Printing & Stationery 101934 1615567
Publicity & Advertisement 146994 79865
Renewal & Fees 495298 44850
Rent & Rates 140740 201850
Repairs & Maintenance 2708862 236610
Salary & Allowances 2483506 2907149
Sales Promotional Expenses 14293583 3400739
Subscription & Donation 6168651 17184350
T. A & Conveyance 8389902 9596833
Telephone, Fax and Radio Link 11376058 9376689
Transportation 6758736 8716480
Vehicles Maintenance 1167242 9731700
Others 0 1467816

Financial expenses 9204482 14761229

OPERATING PROFIT 39038430 47627037

Other Income 2817485 3896044

PROFIT BEFORE PPF & WF 41855915 51523081


Provision for contribution to PPF & WF 1993139 2453480
PROFIT BEFORE TAX 39862776 49069601
Tax Expenses:
Current Tax 2105246 1875297
Deferred tax expenses/(income) 0 0
NET PROFIT AFTER TAX 37757530 47194304
Appropriations:
Statutory reserve for reinvestment 14991339 15243488
Proposed Dividend 12600000 15120000
Previous years retained earnings 41423804 51589995

Retained earnings carried forward 51589995 68420811

Basic Earning per share 44.95 56.18


Number of Share 840000 840000

Apex Spinning Mills Limited


Cash Flow Statement
For the Year Ended March 31, 2004, 2005, 2006, 2007, 2008, 2009

2003-04 2004-05
CASH FLOWS FROM OPERATING ACTIVITIES: 123481198 57338846
Collection from turnover 993781717 1420884095
Other imcome 2699866 3896044
Payment for costs and expenses 873000385 1367441293
Net cash generated from operating activities 123481198 57338846

CASH FLOWS FROM INVESTING ACTIVITIES: -105233542 -88986321


Sales of Investment 3800000
Investment in shares
Property, Plant and Equipment accuired 102113542 88986321
Sales of assents
Sales Proceeds of motor Vehile 680000
Net cash used in investing activities -105233542 -88986321

CASH FLOW FROM FININCING ACTIVITIES: 19195576 38553784


Working capital loan received/(repaid) 12127679 32484711
Term loan received/(repaid) 43186669 12136391
Dividend' paid 11863414 6067318
Net Cash Flow from Financing Activities 19195576 38553784
Net increase/(decrease) in cash and equivalents 37443232 6906309
Cash and cash equivalents on opening 9075882 46519114
Cash and cash equivalents on closing 46519114 53425423

Sreepur Textile Mills Limited


Balance Sheet
As at 31st March, 2004, 2005, 2006, 2007, 2008

2004 2005
Non-Current Assets 505608731 482932514
Fixed Assets:
Existing Unit:
Factory Building & Other Construction 40859454 4399275
Plant and Machinery 256796649 39837968
Factory Equipment 49220 244357483
Office Equipment 112628 44298
Furniture And Fixture 637365 110014
Motor Vehicles 151241 541760
Land & development 4399275 120993
Sub-Total 303005832 289411791
Expantion Unit:
Factory Building 27479619 26792629
Plant and Machinery 167903712 159508526
Sub-Total 195383331 186301155
Total 498389163 475712946
Long term Security Deposits:
Electricity 1292500 1292500
Telephone 32120 32120
Gas 1459164 1459164
Collector of Custom 1000 1000
Total 2784784 2784784
Deffered Expenses 4434784 4434784
Current Assets: 65581083 65619729
Sundry Debtors 2743
Inventories:
Import 7531600 5331600
Local Puchase 0 812240
Work-in-Process 3871505 2623800
Finish goods 2003-63225 Labs. 0 3104670
Waste Cotton 0 289272
Stores & Spares, Packing materials & FOL 48057522 48737109
Total 59460627 60898691
Advances, Deposits & Pre-Payments:
Advances:
Expenses 757337 1491651
Supplies 58053 0
Income Tax 2328848 2328848
Sub-Total 3144238 3820499
Deposit:
L.C. Cost 2385848 0
Escise Duty 41845 55194
Bank Guarrantee margin 392678 286908
Sub-Total 2820371 342102
Total 5964609 4162601
Cash and Cash equivalents:
Cash in Hand 16930 78716
Cash at Banks 136174 479721
Total 153104 558437
Current Liabilities 224407813 240604882
Long term Loan (Current Portion):
IPDC 3480000 0
IFIC 19426110 14940689
Total 22906110 14940689
Short Term Loan from Banking Company:
Pledge 9873957 9101143
Hypothecation 13935680 14348424
Total 23809637 23449567
Short term Loan from associated undertaking & Direcctor 97536185 105296212
Creditors 49377444 59650847
Liabilities for Other finance:
Wages, salary & allowances 1221574 2413658
Gas, Electricity, Telephone & Water charge etc. 15588244 21321180
Audit Fee 103750 103750
Liabilities for Other finance 1192693 1192693
Guarantee fee of BSB 12236286 12236286
Hoque Yarn Traders ltd. 435890
Total 30778437 37267567
Accured Expenses 0 0
Interest and other financial charges payable 0 0
Net Current Assets -158826730 -174985153
Deferred Expenses 0
Total 346782001 307947361
Share Holder's Equity -149718688 -211459728
Share Capital 140000000 140000000
Tax Holiday Reserve 38008 38008
Retained Earning -289756696 -351497736
Non-Current Liabilities 496500689 519406399
Long Term Loan 483494021 506399731
Deferred Liabilities 13006668 13006668
Total 346782001 307946671

Sreepur Textile Mills Limited


Profit Loss Account
For the Year Ended December 31, 2004, 2005, 2006, 2007, 2008

2004 2005
Turn Over 48896163 92838439
Local Excise duty 49416550 93965589
Export -520387 1127150
Less: Cost of Goods Sold 85410665 136151842
Work-in-process(Opening) 6714275 3871505
Raw Raterial Consumed 39681417 77193222
Manufecturing Overhead 20785135 38537993
Interest on Cash credit 0 0
Depreciation 18163058 22277592
Work-in process (Closing) -3871505 2623800
Cost of Production 81472380 139256512
Finish Good Opening 3938285 0
Finish Good Closing 0 3104670
Gross Profit/(LOSS) -36514502 -43313403
OPERATING EXPENSES
Administrative & Selling expenses: 14619744 4208875
Salary & allowances 569595 660192
Traveling& conveyance 14999 64412
Entertainment 140294 583186
Printing & stationary 12078 24509
Vehicle maintenance 360578 537037
Telephone & Trunk Call & Other 37719 30354
Paper & peridicals 825 2000
Postage and telegram 446 3802
Office equipment's maintance 3585 41261
Subscription & donation 69250 5500
Advertisement 68750 87400
Renewal& registration 148875 18366
Board meeting fees 40000 35000
Cariage Outwards 157820 324729
Bank charges 8510 10460
Audit fees ( statutory) 25000 25000
Others/ Share 79500 11062
Depreciation 6117508 837179
Meeting expenses (AGM) 9981 477883
Audit fees ( special audit)) 0 326800
Legal expenses 149360 102743
Computer Maintaince 0
Fuel Expense 0
Others 0
Product Development Expenses 183742 0
sub-Total 8198415 4208875
Manufacuring Expenses for Lay Off Period:
Salary, wages & other allowances 3018572 0
Gas & Electricity 2610986 0
Repair & Maintance 49904 0
Insurance Premium 312519 0
Store Consumed 429348 0
sub-Total 6421329 4208875
Financial expances: 22906110 14940689
IPDC interest 3480000 0
Supervisory Free of IPDC 0 0
IFIC Bank Ltd.( Term Loan Interest) 19426110 14940689
OPERATING LOSS/((Profit) -74040356 -62462967
Other Income: 5291011 721927
Sales of Raw Cotton 20756132 0
Less: Raw Cotton Cost 15645114 0
Sub-Total 5111018 0
Add: Miscellaneous Income 179993 0
Gain of Sale of Assets 0 0
Extraordinary loss 0 0
NET PROFIT / LOSS FOR THE YEAR -68749345 -61741040
Dsficit brought forward -221007351 0
Deficit Carried Forward -289756696 0
Basic Earning per Share-(loss): -49.11 -44.1
Net loss -68749345 -61741040
Number of ordinary shares outstanding 1400000 1400000

Sreepur Textile Mills Limited


Cash Flow Statement
For the Year Ended 31st December, 2004, 2005, 2006, 2007, 2008

2004 2005
Cash Flow From Operating Activities:
Collections from turnover and other income 54187174 93563109
Payment for Cost & expenses 0 -115059868
Inventories 0 0
Advances, Deposits & Prepayment 0 0
Creditors -72587106 0
Net Cash from operating activities -18399932 -21496759
Cash Flows From Investing Activities:
Sale of Assets 0 0
Acquisition of fixed assets -1984490 -438554
Long term security deposit -745900 0
Net Cash used in Investing Activities -2730390 -438554
Cash Flows From Financial Activities:
Long term loan including current portion 21057686 14940689
Short term loan from banking company -14067970 -360070
Short term loan from associated company 141361785 7760027
Liabilities for other Finance 5273 0
Net Cash generated from Financing Activities 21131174 22340686
Net Cash Inflow/(Outflow) 852 405333
Opening Cash and Cash Equivalents 152252 153104
Closing Cash and Cash Equivalents 153104 558437

StyleCraft Limited
Balance Sheet
As at 31st March, 2004, 2005, 2006, 2007, 2008

2004 2005
Net Asset

Non-current Assets
Tangible Fixed Assets, net of Accumulated Depreciation: 106083546 143618108
Machineres 27526015 34219214
Building & Civil Construction 42272959 65016677
Land & Land Development 22095663 22095663
Electrical Installation 215980 1991732
Tools & Equipment 1075993 1069629
Vehiles 2427240 3673024
Factory Furniture 2015689 4318433
Office Furniture 3882140 4701932
Crockeries & Utensils 55788 89649
Telephone & Installation 412098 661795
Electronic Iron & Boiler 557697 1266927
Transformer Installation 343299 308969
Embroidery Machine 101511 81209
Computer Installation & Software Development 3101474 4123255
Generator 0 0
Gas Generator 0 0
Current Assets
Stock & Stores: 32181276 35659637
Raw Materials 28022042 30427432
Finished Goods 4159234 5232205
Export Bills Receiveable & Prepayments: 33561491 42618869
Pubali Bank Ltd. 33561491 42618869

Advances, Deposits, & Pre-payments: 21050223 42385324


Bill Margin Account 0 402031
Advance to employees 16368207 37702759
Security Deposit 1964330 1592841
Cash Security 554096 516528
Security Deposit 163590 163590
Security Deposit 0 7575
Central Depository Bangladesh Ltd. 2000000 2000000
Prepaid Income Tax 750000 300000

Cash & Bank Balances 22852790 17078080

Total of Current Assets 87542990 138041910

Current Liabilities & Provisions

ImportBills Payable: 70821961 81610415


Pubali Bank Ltd. 70821961 81610415

Trade Creditors 180318 1196529

Creditors for Expanses: 5807525 5271219


Unpaid Salary & Wages 3083080 4266492
Unpaid Electric Charges 1622904 0
Unpaid Overtime 258239 14167
Unpaid Postage, Telephone & Telex 601230 688332
Unpaid Gas Charge 13998 0
Unpaid Audit Fee 143775 106287
Unpaid Rent 54299 165941
Unpaid Water charge 30000 30000

Dividend Payable: 2418418 1813368


Unpaid Dividend 218418 438368
Proposed Dividend 2200000 1375000

Income Tax Payable 964015 399354

Short Term Loan 0 4018667


Workers' participation/ welfare Funds 7240195 7268058
Total of Current Liabilities & provisions 87432432 101577610
Net Current Assets 110558 36464300
Total 106194104 180082408
FINANCE BY
Long Term Loans- Secured 3868709 75283079

Share Holders' Equity:


Share Capital 5500000 5500000
Tax Holiday Reserve 701125 701125

RetainedEarning-As per & Loss Account 96124270 98598204


Total of Sharedholders' Equity 102325395 104799329
Total 106194104 180082408

StyleCraft Limited
Profit Loss Account
For the Year Ended December 31, 2004, 2005, 2006, 2007, 2008

2004 2005

Export of Finish Goods 502273283 503166047


Less: Cost of Goods Sold 460760276 461808536
Gross Profit 41513007 41357511

Less: Perating & Financial Expenses 32832830 36698380


Administrative expense 23159552 23589597
Selling Expenses 7160474 8548584
Financial Expenses 2512804 4560199

Operating Profit 8680177 4659131

Less: Non-operating Profit


Financial Expenses 0 0

Contribution to Workers' Participation /welfare fund 413342 221863


Net Profit Before Tex 8266835 4437268

LesS: Income Tax 964015 399254

Net Profit After Tax for the Year 7302820 4038014

Profit Brought Forward 92055854 96124270

Profit Available for Appropriations 99358674 100162284

Appropriations:
Less: Dividend 2200000 1375000
Less:Adjustments for Income Tax 1034404 188980

Profit Carried Forward 96124270 98598304

Earning Forward 0 0
Earning Per Share 132.78 73.42
Number of Share Used to Compute EPS 55000 55000

StyleCraft Limited
Cash Flow Statement
For the Year Ended 31st December, 2004, 2005, 2006, 2007, 2008

2004 2005
Cash Flow From Operating Activities: 30242341 38286954
Collection from Turnover 510109055 494108669
Payment for Costs & Expense 475779473 450558521
Bank Interest 2512804 4560199
Income Tax Paid or Deducted 1574437 702995
Total 30242341 38286954

Cash Flow from Investing Activities: -61146616 -48069404


Acquisition of Tangible Fixed Assets 61146616 48069404

Cash Flow from Financing Activities: 47829700 4007740


Repayment of Long Term Loan 0 0
Long Term Loan Received 50000000 5987790
Dividend Paid 2170300 1980050

Increase / Decrease in Cash & Bank Balances 16925425 -5774710


Cash & Bank Balances at Beging of the Year 5927365 22852790
Cash & Bank Balances at Closing of the Year 22852790 17078080
Menu

2006 2007 2008

2090188451 2044896725 1979035508

98280506 99632428 101032891


535298309 532612522 542396171
1439599561 1373021465 1318884225
7103462 7170302 7260763
290470 237376 190700
6782510 6661790 6110158 Menu
2506609 2338147 2119090
327024 23222695 1041510
2090188451 2044896725 1979035508

1080617450 1387931147 1602750762


430040243 661907131 804538224
95425039 158340600 199543569
102201836 142128918 184831803
53753516 62073278 80928269
146920276 264718241 338915850
31739576 34646094 318733

505004319 489131171 561736245


126722996 204301495 199881551
32421717 54517782 57112342
30968690 30942562 26620630
63332589 118841151 116148579
18849892 32591350 36594742
6389000 8441248 2405240
12460892 24150102 34189502
3170805901 3432827872 3581786270

1517343430 1510486803 1408500189


1150000000 1150000000 1150000000
370575835 370575835 370575835
0 -67589032 -112075646
-72232405 57500000 0
69000000 0 0
656296740 697928666 671920512
643340915 684972841 659011086
12955825 12955825 12909426

997165731 1224412403 1501365569


704311607 676007609 666806390
74729336 26271152 73038747
162320409 426298519 640929034
34068724 56288183 51693424
12147118 14623963 45483352
117615 14584111 14684111
9470922 10338866 8730511

3170805901 3432827872 3581786270

-288894955

31.12.2006 31.12.2007 31.12.2008


1506857027 1540870413 1577113111
1174820367 1175447344 1293232751

332036660 365423069 283880360

-35211003 -40297251 -41608213 Menu


-17080615 -23534991 -24951525
-18130388 -16762260 -16656688

296825657 325125818 242272147


808701 182165 782335
224124751 244867621 287441096

73509607 80440362 -44386614


-3500457 -3830493 0

70009150 76609869 -44386614


0 14466496 100000

70009150 62143373 -44486614


6.09 5.4 -3.87
11500000 11500000 11500000
2006 2007 2008
312708865 246762519 113574096
1613142352 1556925727 1505290372
1213775164 1218082661 1304700729
399367188 338843066 200589643
79581518 84071414 82332869
7076805 8009133 4682678
Menu
-34262112 -42812356 -19230127
34322112 42812356 19230127
60000 0 0

-269284812 -190208705 -90340577


141963980 0 0
0 0 0
72288186 88555293 75304587
53973538 10809670 7865422
43591800 39113669 17066641
65414384 66523155 26640611
0 0 0
0 6826258 20805840
9161941 13741458 4003392
9687951 18849892 32591350
18849892 32591350 36594742

31.03.2006 31.03.2007 31.03.2008

21173102 21423102 21423102


8465179 68123531 133452791
4999902 19558315 35301148
25297215 198434901 547266368
0 4731078 10361644
1138287 1142106 7208772 Menu
270887 5527856 10279274
685079 2648453 10786943
922925 42487586 70250385
584642 2200844 4497068
683521 4881202 10626088
132799 3161764 5120321
220366 991795 3000000
41165 3419613 8526094
1856278 8386054 15157468
136781 98824 576027
766484 4984864 11378193
5171 3297 40625

67379783 392205185 905252311

16868033 0 0
6664657 0 0
192396101 0
6948747 0 0
442483 0 0
2376262 0 0
4007671 0 0
7407339 0 0
3810224 0 0
9558480 0 0
2980583 0 0
820457 0 0
3635761 0 0
1470164 0 0
259386962 0 0
326766745 0 905252311

0 0 513047126
326766745 392205185 392205185
39800000 9621112 9621112
15000000 0 8621112
23800000 8621112 0
1000000 1000000 1000000

423337043 588823931 588823931


125683077 219954386 219954386
3420682 34602347 34602347
9667735 52916881 52916881
74071873 91910105 91910105
38522787 40525053 40525053

191245458 151142900 151142900


163051386 151142900 151142900
28194072 0 0

40271544 46897057 46897057


8051168 26604148 26604148
2278549 2731951 2731951
6056977 8032519 8032519
19383498 5411500 5411500
4501352 4116939 4116939
59021338 59021338
66136964 111808250 111808250
18559 19998 19998
66118405 111788252 111788252
418861229 528,794,507 528794507
48433398 23601041 23601041
46017235 23137026 23137026
2416163 464015 464015
0 0 0
0 29447322 29447322
49503546 48661588 48661588
278566348 374873711 374873711
42357937 52,210,845 52210845
489237 714191 714191
7916 7916 7916
0 2140265 2140265
0 7410 7410
0 322675 322675
0 48123 48123
0 994110 994110
0 474943 474943
0 191,408 191408
0 4,549 4549
441657 4,860,529 4860529
4404432 4,397,168 4397168
42748 57,344 57344
18850164 8,019,763 8019763
40000 50,000 50000
6473163 22,588,792 22588792
3025329 3,888,082 3888082
3191375 1,090,227 1090227
5391916 2,353,350 2353350
4475814 60,029,424 60029424
10206043 11,218,288 11218288

360836516 450,637,433 450637433

316907104 400,339,127 400339127


84000000 84000000 84000000
300000000 300000000 300000000
84000000 84000000 84000000

15000000 15000000 15000000


202787104 284,539,127 284539127
119246421 129,700,699 129700699
80788865 152,086,610 152086610
2751818 2,751,818 2751818
15120000 16,800,000 16800000

43929412 50,298,306 50298306


360836516 450,637,433 450637433

2005-06 2006-07 2007-08


1924903564 1,601,979,126 1718675403
1734680303 1,401,084,522 1527219980
190223261 200,894,604 191455423

118,463,629 121,304,901 113,024,153


3,000,000 400,250 211,750
15000 40,000 50,000
10393957 8,089,237 10,098,222 Menu
40000 17,500 14,000
1848524 1,968,389 2,667,193
293151 3,400,000 3,600,000
2424165 438,126 1,311,964
1807063 3,976,246 4,386,856
598918 29,342,780 30,846,152
569409 5,559,498 10,756,914
488316 30,453,265 3,443,419
1799492 155,903 67,881
355676 396,041 168,700
704968 31,014 16,591
18332 139,473 309,060
1553007 1,300,946 775,040
6962653 2,393,858 3,746,860
4700465 226,119 58,555
282909 956,587 393,136
64515 2,135,208 1,067,739
221684 2,821,886 3,706,694
218554 12,466,030 17,800,237
2984401 5,028,515 9,344,510
2598850 42,500 662,088
29138222 624,648 527,950
7684635 3,384,997 1,921,762
9016167 3,567,794 3,824,799
28680596 1,948,091 1,246,081
0 0 0

13419421 28,935,642 21,995,587

58,340,211 50,654,061 56,435,683

5,191,695 6,800,119 25214029

63,531,906 57,454,180 81,649,712


3025329 2,735,913 3888082
60,506,577 54,718,267 77,761,630

2408131 4,073,671 12209895


10206043 1,685,340 -841032
47,892,403 48,959,256 66,392,767

20404349 10454278
15120000 16,800,000 16800000
68420811 80,788,865 102493843

80,788,865 102,493,843 152,086,610

57.01 58.28 56.93


840000 840000 840000

2005-06 2006-07 2007-08


85052060 75071099 193236419
1848289129 1604964917 1709744537
5191695 6800119 2064029
1768428764 1536693937 1518572147
85052060 75071099 193236419

-60968090 -178592291 6193101


0 0 61950000 Menu
0 5159300 3461812
60968090 173432991 52295087
0 0 0
0 0 0
-60968090 -178592291 6193101

-11372429 95991339 -146228381


7111448 54152267 78984623
529557 53346778 43792898
17954320 11507706 23450860
-11372429 95991339 -146228381
12711541 -7529853 53201139
53425423 66136964 58607111
66136964 58607111 111808250

2006 2007 2008


460898226 439993790 420103920

38842019 37870969 36924195


232139609 220532629 209505998
39868 35881 32293 Menu
93512 79485 67562
460496 391422 332709
47966 38373 30698
4399275 4399275 4399275
276022745 263348034 251292730

26122813 25469743 24832999


151533100 143956445 136758623
177655913 169426188 161591622
453678658 432774222 412884352

1292500 1292500 1292500


32120 32120 32120
1459164 1459164 1459164
1000 1000 1000
2784784 2784784 2784784
4434784 4434784 4434784
56698749 57254680 52576984
0 0 0

5331600 5331600 0

3000000 3000000 3000000

42865975 42865975 42865975


51197575 51197575 45865975

2718486 3291335 3227685

2328848 2328848 2978848


5047334 5620183 6206533

55194 55194 55194


286908 286908 286908
342102 342102 342102
5389436 5962285 6548635

22066 1503 1048


89672 93317 161326
111738 94820 162374
245665247 247878678 245760760

14940689 14940689 14940689


14940689 14940689 14940689

9194062 9194062 5194062


14633010 14633010 14633010
23827072 23827072 19827072
108081228 115496441 118666014
61888883 58847238 57680507

3773470 2744833 2724073


19596176 18489676 18389676
128750 103750 103750
1192693 1192693 1192693
12236286 12236286 12236286

36927375 34767238 34646478


-188966498 -190623998 -193183776

271931728 249369792 226920144


-247474671 -270036607 -292486255
140000000 140000000 140000000
38008 38277 38008
-387512679 -410074884 -432524263
519406399 519406399 519406399
506399731 506399731 506399731
13006668 13006668 13006668
271931728 249369792 226920144

2006 2007 2008


14512560 0 0
14690060 0 0
177500 0 0
42650936 0 0
2623800 0 0
10882881 0 0
7176090 0 0 Menu
0 0 0
21863495 0 0
3000000 0 0
39546266 0 0
3104670 0 0
0 0 0
-28138376 0 0

1274535 22627861 21186754


395508 558560 488640
8678 13218 8128
69205 62738 37502
11400 11299 10215
154414 106318 18400
22700 16380 9420
0 1350 935
0 5161 4805
987 9040 7180
0 0 58000
5500 6840 7920
0 39435 9150
0 0 27396
11400 20000 4000
0 30980 5698
7214 6590 25000
0 25000 33000
0 20904436 19889870
5532 443485 407825
25000 305500 92000
74500 19000 10000
109758 1140 1500
0 41391 27396
358877 0 0
13862 0 2774
1274535 22627861 21186754

0 0 0
0 0 0
0 0 0
0 0
0 0
1274535 22627861 21186754
284586 6344 3025
284586 6344 3025
0 0
0
-29697497 -22634205 -21189779
0 72000 72000
0 72000 72000
0 0 0
0 0
0 0 0
63965 0 0
6381411 0 1331600
-36014943 -22562205 -22449379
0 0
0 0
-25.72 16.12 -16.04
36014943 -22562205 -22449379
1400000 1400000 1400000

2006 2007 2008

14512560 72000 72000


-18246780 -7504131 -2631509
0 0 5331600 Menu
0 0 -586350
0 0 -1167000
-3734220 -7432131 1018741
125000 0 0
0 0 0
0 0 0
125000 0 0

0 0 0
377505 0 -4000000
2785016 7415213 3169573
0 0 -120760
3162521 7415213 -951187
-446699 -16918 67554
558437 111738 94820
111738 94820 162374

2006 2007 2008

157326303 146465326 161204699


42285616 35942774 36797573
61765843 58677551 56179559
22095663 22095663 22095663
4852886 4535158 4348042 Menu
1315308 1278277 1219052
3505220 4191012 3398372
4583126 4317800 4418604
4457711 4030084 3627076
84777 67258 55476
648148 616813 611737
1234302 1110872 1130285
278072 250265 225239
64967 51974 41579
4493664 4204925 3939809
5661000 5094900 4585410
0 0 18531223

52415484 59694389 81101701


42453881 48141337 33674563
9961603 11553052 47427138
52434054 84439991 56765511
52434054 84439991 56765511

26966728 8343679 26970658


21613770 3582805 22122172
2485272 2010188 1747800
554096 554096 554096
163590 163590 163590
150000 0 350000
0 33000 33000
2000000 2000000 2000000
1743502 0 0

20554377 2084565 7404226

154114145 154562624 172242096

102967607 82695881 85818095


102967607 82695881 85818095

4123381 4108808 4339432

5922674 7610832 9209024


4189359 5448118 7113031
498138 476321 600952
927166 1492287 1304961
54384 49884 61526
223627 114222 98554
30000 30000 30000
0 0 0
0 0 0

1825385 1637304 1905253


450385 262304 255253
1375000 1375000 1650000

933863 120943 67482

0 14556379 11096894
7583896 7867495 8191071
123356806 118597642 120627251
30757339 35964982 51614845
188083642 182430308 212819544

78974225 71994365 99496134

5500000 5500000 5500000


701125 701125 701125

102908292 104234799 107122284


109109417 110435924 113323409
188083642 182430289 212819543

2006 2007 2008

633913878 672098705 773611979


580732174 614332678 708335017
53181704 57766027 65276962

46549102 51810449 58481771


26710201 31192827 34873898
9098444 9727144 9482614 Menu
10740457 10890478 14125259

6632602 5955578 6795091

0 0 0

315838 283599 323576


6316764 5671979 6471515

631676 1680247 1934030

5685088 3991732 4537485

98598204 102908292 104234799


106900024
104283292 108772284

1375000 1375000 1650000


1290225

102908292 104234799 107122284

0 0 0
103.37 72.58 82.5
55000 55000 55000

2006 2007 2008


-499271 -13446983 20391255
624098693 640092768 801286459
612380005 640609383 764782354
10740457 10890478 14125359
1477502 2039890 1987491 Menu
-499271 -13446983 20391255

-28400249 -2479888 -29805746


28400249 2479888 29805746

32375817 -2542941 14734152


0 6979860 19852000
33738800 6000000 35968203
1362983 1563081 1382051

3476297 -18469812 5319661


17078080 20554377 2084565
20554377 2084565 7404226
Ratio Analysis of M
2004
Liquidity Ratios

Current Ratio (Current Assets/Current Liabilities) 1.17

Quick Ratio (Current Assets-Inventory)/(Current Liabilities) 0.14

Net Working Capital to Sales Ratio (Current Assets-Current Liabilities/(Sales) 0.09

Profitability Ratios

Gross Profit Margin (Gross Income/Sales) 0.24

Operationg Profit Margin (Operating Income/Sales) 0.2

Net Profit Margin (Net Income/Sales) 0.06

Activity Ratios

Inventory Turnover (Cost of Goods Sold/Inventory) 1.24

Accounts Receivable Turnover (Sales on Credit/Accounts Receivable) 2.68

Total Asset Turnover (Sales/Total Assets) 0.53

Fixed Asset Turnover (Sales/Fixed Assets) 0.78

Financial Leverage Ratios

Total Debt to Assets Ratio (Total Debt/Total Assets) 0.56

Long Term Debt to Assets Ratio (Long Term Debt/Total Assets) 0.28

Total Debt to Equity Ratio (Total Debt/Total Shareholders Equity) 1.29

Coverage Financial Leverage Ratios

Times Interest Coverage Ratio (Earnings Before Interest and Tax/Interest) 1.58

Fixed Charge Coverage Ratios ( EBIT+Lease Payment)/(Interest+Lease Payment) 1.58


Share Holders Ratios

Earnings Per Share (Net Income to Share Holders/Number Of Share Outstanding) 9.77

Dividend Per Share (Dividend Paid to Shareholders / Number of Share Outstanding) 5

Dividend Payout Ratio (Dividends/Earnings) 0.51

Retention Ratio (Earnings- Dividends/Earnings) 0.49

Ratio Analysis of Ape


2004

Liquidity Ratios

Current Ratio (Current Assets/Current Liabilities) 1.02

Quick Ratio (Current Assets-Inventory)/(Current Liabilities) 0.83

Net Working Capital to Sales Ratio (Current Assets-Current Liabilities/(Sales) 0.01

Profitability Ratios

Gross Profit Margin (Gross Income/Sales) 0.12

Operationg Profit Margin (Operating Income/Sales) 0.04

Net Profit Margin (Net Income/Sales) 0.04

Activity Ratios

Inventory Turnover (Cost of Goods Sold/Inventory) 21.46

Accounts Receivable Turnover (Sales on Credit/Accounts Receivable) 9.34

Total Asset Turnover (Sales/Total Assets) 3.07


Fixed Asset Turnover (Sales/Fixed Assets) 25.37

Financial Leverage Ratios

Total Debt to Assets Ratio (Total Debt/Total Assets) 0.96

Long Term Debt to Assets Ratio (Long Term Debt/Total Assets) 0.24

Total Debt to Equity Ratio (Total Debt/Total Shareholders Equity) 1.27

Coverage Financial Leverage Ratios

Times Interest Coverage Ratio (Earnings Before Interest and Tax/Interest) 3.55

Fixed Charge Coverage Ratios ( EBIT+Lease Payment)/(Interest+Lease Payment) 3.55

Share Holders Ratios

Earnings Per Share (Net Income to Share Holders/Number Of Share Outstanding) 44.95

Dividend Per Share (Dividend Paid to Shareholders / Number of Share Outstanding) 15

Dividend Payout Ratio (Dividends/Earnings) 0.33

Retention Ratio (Earnings- Dividends/Earnings) 0.67

Ratio Analysis of Sree


2004
Liquidity Ratios

Current Ratio (Current Assets/Current Liabilities) 0.29

Quick Ratio (Current Assets-Inventory)/(Current Liabilities) 0.03

Net Working Capital to Sales Ratio (Current Assets-Current Liabilities/(Sales) -3.25

Profitability Ratios

Gross Profit Margin (Gross Income/Sales) -0.75


Operationg Profit Margin (Operating Income/Sales) -1.51

Net Profit Margin (Net Income/Sales) -1.41

Activity Ratios

Inventory Turnover (Cost of Goods Sold/Inventory) 1.44

Accounts Receivable Turnover (Sales on Credit/Accounts Receivable)

Total Asset Turnover (Sales/Total Assets) 0.09

Fixed Asset Turnover (Sales/Fixed Assets) 0.1

Financial Leverage Ratios

Total Debt to Assets Ratio (Total Debt/Total Assets) 1.26

Long Term Debt to Assets Ratio (Long Term Debt/Total Assets) 0.87

Total Debt to Equity Ratio (Total Debt/Total Shareholders Equity) -4.82

Coverage Financial Leverage Ratios

Times Interest Coverage Ratio (Earnings Before Interest and Tax/Interest) -4

Fixed Charge Coverage Ratios ( EBIT+Lease Payment)/(Interest+Lease Payment) Same

Share Holders Ratios

Earnings Per Share (Net Income to Share Holders/Number Of Share Outstanding) -49.11

Dividend Per Share (Dividend Paid to Shareholders / Number of Share Outstanding)

Dividend Payout Ratio (Dividends/Earnings)

Retention Ratio (Earnings- Dividends/Earnings)

Ratio Analysis o
2004
Liquidity Ratios

Current Ratio (Current Assets/Current Liabilities) 1

Quick Ratio (Current Assets-Inventory)/(Current Liabilities) 0

Net Working Capital to Sales Ratio (Current Assets-Current Liabilities/(Sales) 0

Profitability Ratios

Gross Profit Margin (Gross Income/Sales) 0.08

Operationg Profit Margin (Operating Income/Sales) 0.02

Net Profit Margin (Net Income/Sales) 0.01

Activity Ratios

Inventory Turnover (Cost of Goods Sold/Inventory) 14.32

Accounts Receivable Turnover (Sales on Credit/Accounts Receivable) 14.97

Total Asset Turnover (Sales/Total Assets) 4.73

Fixed Asset Turnover (Sales/Fixed Assets) 4.73

Financial Leverage Ratios

Total Debt to Assets Ratio (Total Debt/Total Assets) 0.02

Long Term Debt to Assets Ratio (Long Term Debt/Total Assets) 0.02

Total Debt to Equity Ratio (Total Debt/Total Shareholders Equity) 0.04

Coverage Financial Leverage Ratios

Times Interest Coverage Ratio (Earnings Before Interest and Tax/Interest) 15.52

Fixed Charge Coverage Ratios ( EBIT+Lease Payment)/(Interest+Lease Payment) 15.52

Share Holders Ratios


Earnings Per Share (Net Income to Share Holders/Number Of Share Outstanding) 132.78

Dividend Per Share (Dividend Paid to Shareholders / Number of Share Outstanding) 43.97

Dividend Payout Ratio (Dividends/Earnings) 0.03

Retention Ratio (Earnings- Dividends/Earnings) 0.97


Ratio Analysis of Monno Febrics Ltd.
2005 2006 2007 2008 Menu

1.3 1.65 1.99 2.39

0.2 0.08 0.13 0.07

0.17 0.28 0.45 0.59

0.24 0.22 0.24 0.18

0.21 0.2 0.21 0.15

0.05 0.05 0.04 -0.03

1 1.09 0.85 0.81

2.24 2.98 3.15 2.81

0.43 0.48 0.45 0.44

0.64 0.72 0.75 0.8

0.52 0.52 0.56 0.61

0.25 0.21 0.2 0.19

1.1 1.09 1.27 1.54

1.34 1.33 1.33 0.85

1.34 1.33 1.33 0.85


6.22 6.09 5.4 -3.87

6 6 0 0

0.97 0.99 0 0

0.03 0.01 1 1

Ratio Analysis of Apex Spnning Textile Mills Ltd.


2005 2006 2007 2008

1 1.01 1.11 1.11

0.72 0.7 0.58 0.58

0 0 0.04 0.03

0.11 0.1 0.13 0.11

0.03 0.03 0.03 0.03

0.03 0.02 0.03 0.04

14.46 13.8 6.37 6.94

12.45 10.07 7.62 8.18

3.8 5.33 3.55 3.81


35.86 48.36 166.51 178.64

1.07 1.28 1.29 1.29

0.24 0.12 0.11 0.11

1.42 1.46 1.45 1.45

2.49 3.73 0.99 2.71

2.49 3.73 0.99 2.71

56.18 57.01 58.28 79.04

18 18 20 20

0.32 0.32 0.34 0.25

0.68 0.68 0.66 0.75

Ratio Analysis of Sreepur Textile Mills Limited


2005 2006 2007 2008

0.27 0.23 0.23 0.21

0.02 0.02 0.02 0.03

-1.88 -13.02 #DIV/0! #DIV/0!

-0.47 -1.94 #DIV/0! #DIV/0!


-0.67 -2.05 #DIV/0! #DIV/0!

-0.67 -2.48 #DIV/0! #DIV/0!

2.24 0.83 0 0

0.17 0.03 0 0

0.19 0.03 0 0

1.39 1.48 1.54 1.62

0.95 1 1.04 1.1

-3.59 -3.09 -2.84 -2.62

-5.13 -105.35 -3557.46 -6982.08

-44.1 -25.72 -16.12 -16.04

Ratio Analysis of StyleCraft Limited


2005 2006 2007 2008
1.36 1.25 1.3 1.43

0.36 0.25 0.3 0.43

0.07 0.05 0.05 0.07

0.08 0.08 0.09 0.08

0.01 0.01 0.01 0.01

0.01 0.01 0.01 0.01

12.95 11.08 10.29 8.73

11.81 12.09 7.96 13.63

2.79 3.37 3.68 3.64

3.5 4.03 4.59 4.8

0.28 0.25 0.29 0.33

0.27 0.25 0.24 0.3

0.76 0.72 0.78 0.98

8.07 3.95 4.3 3.62

8.07 3.95 4.3 3.62


73.42 103.37 72.58 82.5

32.97 33.19 29.77 34.64

0.02 0.02 0.02 0.02

0.98 0.98 0.98 0.98


Menu

Current Ratio
3
2.5 Row 188
2 Row 5

Value
1.5
1
0.5
0
2004 2005 2006 2007 2008
Year

Current
Quick Ratio
Ratio
4
0.4
Row 190
3
0.3 Row 7
Values
values

Row 5
2
0.2
Row 188
1
0.1

00
2004
2004 2005
2005 2006
2006 2007
2007 2008
Year

Net Working Ratio


1
0.8 Row 9 Row 188
Linear Linear
0.6 Regression Regression
Values

0.4 for Row 9 for Row 188

0.2
0
20042005200620072008
Year

Gross Profit Margin Ratio


0.5
Row 196 Row 13
0 Linear Linear
Regression Regression
Value

-0.5 for Row 196 for Row 13

-1
2005 2007
2004 2006 2008
Year
Gross Profit Margin Ratio
0.5
Row 196 Row 13
0 Linear Linear
Regression Regression

Value
-0.5 for Row 196 for Row 13

-1
2005 2007
2004 2006 2008
Year

Operating Profit Margin Ratio


0.5
Row 198 Row 15
0 Linear Linear
Regression Regression
Values

-0.5 for Row 198 for Row 15

-1
2005 2007
2004 2006 2008
Year

Net Profit Margin Ratio


0.5
Row 200 Row 17
0
Linear Linear
-0.5 Regression Regression
Valve

for Row 200 for Row 17


-1
-1.5
2005 2007
2004 2006 2008
Year

Inventory Turnover ratio


12
10 Row 204 Row 21
8 Linear Linear
Regression Regression
Value

6
for Row 204 for Row 21
4
2
0
2004 2005 2006 2007 2008
Year
Accounts Receivable Turnover Ratio
8
Row 206 Row 23
6 Linear Linear
Regression Regression

Value
4
for Row 206 for Row 23
2

0
2004 2005 2006 2007 2008
Year

Total Assets Turnover Ratio


3
2.5 Row 208 Row 25
2 Linear Linear
Regression Regression
Value

1.5
for Row 208 for Row 25
1
0.5
0
20042005200620072008
Year

Fixed Assets Turnover Ratio


80
Row 210 Row 27
60 Linear Linear
Regression Regression
Value

40
for Row 210 for Row 27
20

0
2004 2005 2006 2007 2008
Year

Total Debt to Assets Ratio


1.5
Row 214 Row 31
1 Linear Linear
Regression Regression
Value

for Row 214 for Row 31


0.5

0
20042005200620072008
Year
Total Debt to Assets Ratio
1.5
Row 214 Row 31
1 Linear Linear
Regression Regression

Value
for Row 214 for Row 31
0.5

0
20042005200620072008
Year

Long Term Debt to Asset Ratio


0.8
Row 216 Row 33
0.6 Linear Linear
Regression Regression
Value

0.4
for Row 216 for Row 33
0.2

0
20042005200620072008
Year

Total Debt to Equity ratio


2
1 Row 218 Row 35
0 Linear Linear
Regression Regression
Value

-1 for Row 218 for Row 35


-2
-3
2005 2007
2004 2006 2008
Year

Time Interest Coverage Ratio


1000
Row 222 Row 39
0
Linear Linear
-1000 Regression Regression
Value

for Row 222 for Row 39


-2000
-3000
04

06

08
20
20

20

Year
Row 222 Row 39
0
Linear Linear
-1000 Regression Regression

Value
for Row 222 for Row 39
-2000
-3000

04

06

08
20
20

20
Year

Fixed Charge Coverage Ratio


1000
Row 224 Row 41
0
Linear Linear
-1000 Regression Regression

Value
for Row 224 for Row 41
-2000
-3000

04

06

08
20
20

20
Year

Earnings Per Share (EPS)


50
40 Row 228 Row 45
30 Linear Linear
20 Regression Regression
Value

10 for Row 228 for Row 45


0
-10
2005 2007
2004 2006 2008
Year

Dividend Per Share


20
Row 230 Row 47
15 Linear Linear
Regression Regression
Value

10 for Row 230 for Row 47


5

0
2004 2005 2006 2007 2008
Year
Dividend per share
8
Row 233 Linear
6 Regression
for Row 47

Value
4 Row 47 Linear
Regression
2 for Row 47
0
2004 2005 2006 2007 2008
Year

Dividend payoutRow
Ratio
233 Linear
1.2 Regression
for Row 49
1 Linear Linear
0.8 Regression Regression
Value

0.6 for Row 233 for Row 49


0.4 Row 49
0.2
0
2004 2005 2006 2007 2008
Year

Retained Earnings
1.2
1 Row 234 Row 51
0.8 Linear Linear
Regression Regression
Value

0.6 for Row 234 for Row 51


0.4
0.2
0
2004 2005 2006 2007 2008
Year
Menu
Cash Flow Based Ratio Analysis of Mo
2004 2005 2006

Cash Flow Returns

1.Operating Cash flows/ Sales 0.15 0.18 0.21

2.Operating cash flow/Assets 0.1 0.1 0.13

3.Operating cash flow/Assets 0.08 0.08 0.1

4.Operating cash flow/Equity -0.81 -0.84 -0.79

5.Operating cash flow per share -103.74 -110.5 -104.75

Cash Flow Coverage


6.Interest Cover Ratio 4.89 4.78 5.02

7.Dividend Cover -20.75 -18.42 -17.46


Capital Expenditure cash flow Ratios
8.Acquisition of Fixed Assets 0.12 0.11 0.15

9.Acquisition of Fixed Assets and Subsidies 0.12 0.11 0.15

Financing Cash Flow Ratios


10. Debt Coverage 0.14 0.15 0.19

11.Current Liability Coverage 0.28 0.28 0.31

12.Current Portion of Long Term Debt Coverage 0.29 0.31 0.49

Cash Flow Based Ratio Analysis of Apex


2004 2005 2006

Cash Flow Returns

1.Operating Cash flows/ Sales 0.12 0.04 0.04

2.Operating cash flow/Assets 3.03 3.79 5.14

3.Operating cash flow/Assets 0.38 0.15 0.24


4.Operating cash flow/Equity -0.51 -0.8 -0.73

5.Operating cash flow per share -150.07 -270 -276.02

Cash Flow Coverage


6.Interest Cover Ratio 13.42 3.88 6.34

7.Dividend Cover -1.5 -2.7 -2.76


Capital Expenditure cash flow Ratios
8.Acquisition of Fixed Assets 0.44 0.17 0.26

9.Acquisition of Fixed Assets and Subsidies 0.44 0.17 0.26

Financing Cash Flow Ratios


10. Debt Coverage 1.45 0.62 1.76

11.Current Liability Coverage 0.52 0.18 0.2

12.Current Portion of Long Term Debt Coverage 1.55 0.63 1.94

Cash Flow Based Ratio Analysis of Sreep


2004 2005 2006

Cash Flow Returns

1.Operating Cash flows/ Sales -0.38 -0.23 -0.26

2.Operating cash flow/Assets -0.03 -0.04 -0.01

3.Operating cash flow/Assets -0.03 -0.04 -0.01

4.Operating cash flow/Equity 0.29 0.18 0.03

5.Operating cash flow per share -31.17 -27.69 -4.53

Cash Flow Coverage


6.Interest Cover Ratio -2162.15 -2055.14 #DIV/0!

7.Dividend Cover 0 0 0
Capital Expenditure cash flow Ratios
8.Acquisition of Fixed Assets -0.09 -0.08 -0.01

9.Acquisition of Fixed Assets and Subsidies -0.09 -0.08 -0.01

Financing Cash Flow Ratios


10. Debt Coverage -0.07 -0.06 -0.01
11.Current Liability Coverage -0.19 -0.16 -0.03

12.Current Portion of Long Term Debt Coverage -0.09 -0.08 -0.01

Cash Flow Based Ratio Analysis of Style


2004 2005 2006

Cash Flow Returns

1.Operating Cash flows/ Sales 0.06 0.08 0

2.Operating cash flow/Assets 0.18 0.15 0.04

3.Operating cash flow/Assets 0.16 0.14 0

4.Operating cash flow/Equity 0.3 0.37 0

5.Operating cash flow per share 549.86 696.13 -9.08

Cash Flow Coverage


6.Interest Cover Ratio 13.66 9.55 1.09
7.Dividend Cover 13.93 19.34 -0.37

Capital Expenditure cash flow Ratios


8.Acquisition of Fixed Assets 0.26 0.25 -0.01

9.Acquisition of Fixed Assets and Subsidies 0.26 0.25 -0.01

Financing Cash Flow Ratios


10. Debt Coverage 7.82 0.48 -0.01

11.Current Liability Coverage 0.38 0.41 0

12.Current Portion of Long Term Debt Coverage 7.82 0.51 -0.01


d Ratio Analysis of Monno Febrics Ltd.
2007 2008

0.16 0.07

0.1 0.06

0.07 0.03

-0.84 -0.92

-109.89 -112.6

4.03 2.44

#DIV/0! #DIV/0!

0.12 0.06

0.12 0.06

0.13 0.05

0.2 0.08

0.36 0.17

Ratio Analysis of Apex Spinning Mills Ltd.


2007 2008

0.05 0.11

3.58 3.8

0.17 0.43
-0.81 -0.52

-387.22 -246.55

2.59 8.79

-3.87 -2.47

0.19 0.49

0.19 0.49

0.68 1.75

0.14 0.37

1.49 3.84

Ratio Analysis of Sreepur Textile Mills Ltd.


2007 2008

#DIV/0! #DIV/0!

-0.01 0

-0.01 0

0.04 0.01

-6.98 -1.4

-239.9 178.79

0 0

-0.02 0

-0.02 0

-0.01 0
-0.04 -0.01

-0.02 0

Ratio Analysis of Style Craft Ltd.


2007 2008

-0.02 0.03

0 0.11

-0.04 0.06

-0.12 0.18

-244.49 370.75

-0.05 2.58
-8.6 14.75

-0.1 0.12

-0.1 0.12

-0.16 0.18

-0.12 0.18

-0.19 0.2
Menu
2004 Weight 2005 Weight 2006
Sreepur Textile Mills Limited 571189814 0.52 548552243 0.45 517596975

Apex Spinning Mills Limited 329065698 0.3 375796393 0.31 360836516

StyleCraft Limited 193626536 0.18 281660018 0.23 311440448

Weight Based on Assets 1093882048 1 1206008654 1 1189873939

2004 2005 2006 2007 2008


Sreepur Textile Mills Limited 0.52 0.45 0.44 0.4 0.38
Apex Spinning Mills Limited 0.3 0.31 0.3 0.36 0.36
StyleCraft Limited 0.18 0.23 0.26 0.24 0.27

Cash Flow Returns 2004

1.Operating Cash flows/ Sales -0.2

2.Operating cash flow/Assets -0.02

3.Operating cash flow/Assets -0.02

4.Operating cash flow/Equity 0.15

5.Operating cash flow per share -16.27

Cash Flow Coverage


6.Interest Cover Ratio -1129.01

7.Dividend Cover 0
Capital Expenditure cash flow Ratios
8.Acquisition of Fixed Assets -0.05

9.Acquisition of Fixed Assets and Subsidies -0.05

Financing Cash Flow Ratios


10. Debt Coverage -0.04

11.Current Liability Coverage -0.1

12.Current Portion of Long Term Debt Coverage -0.05

Apex Spinning Mil


Cash Flow Returns 2004

1.Operating Cash flows/ Sales 0.04

2.Operating cash flow/Assets 0.91

3.Operating cash flow/Assets 0.11

4.Operating cash flow/Equity -0.15

5.Operating cash flow per share -45.14

Cash Flow Coverage


6.Interest Cover Ratio 4.04

7.Dividend Cover -0.45


Capital Expenditure cash flow Ratios
8.Acquisition of Fixed Assets 0.13

9.Acquisition of Fixed Assets and Subsidies 0.13

Financing Cash Flow Ratios


10. Debt Coverage 0.44

11.Current Liability Coverage 0.16

12.Current Portion of Long Term Debt Coverage 0.47

Cash Flow Returns 2004

1.Operating Cash flows/ Sales 0.01

2.Operating cash flow/Assets 0.03

3.Operating cash flow/Assets 0.03

4.Operating cash flow/Equity 0.05

5.Operating cash flow per share 97.33

Cash Flow Coverage


6.Interest Cover Ratio 2.42

7.Dividend Cover 13.93


Capital Expenditure cash flow Ratios
8.Acquisition of Fixed Assets 0.05
9.Acquisition of Fixed Assets and Subsidies 0.05

Financing Cash Flow Ratios


10. Debt Coverage 1.38

11.Current Liability Coverage 0.07

12.Current Portion of Long Term Debt Coverage 1.38

Cash Flow Returns 2004

1.Operating Cash flows/ Sales -0.15

2.Operating cash flow/Assets 0.93

3.Operating cash flow/Assets 0.12

4.Operating cash flow/Equity 0.05

5.Operating cash flow per share 35.91

Cash Flow Coverage


6.Interest Cover Ratio -1122.55

7.Dividend Cover 13.48


Capital Expenditure cash flow Ratios
8.Acquisition of Fixed Assets 0.13

9.Acquisition of Fixed Assets and Subsidies 0.13

Financing Cash Flow Ratios


10. Debt Coverage 1.78

11.Current Liability Coverage 0.12

12.Current Portion of Long Term Debt Coverage 1.8


Weight 2007 Weight 2008 Weight
0.44 497248470 0.4 472680904 0.38

0.3 450,637,433 0.36 450637433 0.36

0.26 301027950 0.24 333446795 0.27

1 1,248,913,853 1 1256765132 1

Sreepur Textile Mills Limited


2005 2006 2007 2008

-0.11 -0.11 #DIV/0! #DIV/0!

-0.02 0 -0.01 0

-0.02 0 -0.01 0

0.08 0.01 0.01 0

-12.59 -1.97 -2.78 -0.53

-934.78 #DIV/0! -95.52 67.24

0 0 0 0

-0.04 -0.01 -0.01 0

-0.04 -0.01 -0.01 0

-0.03 0 -0.01 0

-0.07 -0.01 -0.02 0

-0.03 -0.01 -0.01 0

Apex Spinning Mills Limited


2005 2006 2007 2008

0.01 0.01 0.02 0.04

1.18 1.56 1.29 1.36

0.05 0.07 0.06 0.15

-0.25 -0.22 -0.29 -0.19

-84.13 -83.7 -139.72 -88.41

1.21 1.92 0.94 3.15

-0.84 -0.84 -1.4 -0.88

0.05 0.08 0.07 0.18

0.05 0.08 0.07 0.18

0.19 0.53 0.25 0.63

0.06 0.06 0.05 0.13

0.19 0.59 0.54 1.38

StyleCraft Limited
2005 2006 2007 2008

0.02 0 0 0.01

0.04 0.01 0 0.03

0.03 0 -0.01 0.02

0.09 0 -0.03 0.05

162.58 -2.38 -58.93 98.37

2.23 0.29 -0.01 0.69

19.34 -0.37 -8.6 14.75

0.06 0 -0.02 0.03


0.06 0 -0.02 0.03

0.11 0 -0.04 0.05

0.09 0 -0.03 0.05

0.12 0 -0.05 0.05

Industry Average

2005 2006 2007 2008

-0.08 -0.1 #DIV/0! #DIV/0!

1.2 1.56 1.28 1.39

0.06 0.07 0.04 0.17

-0.08 -0.21 -0.31 -0.14

65.85 -88.05 -201.43 9.44

-931.34 #DIV/0! -94.59 71.08

18.5 -1.2 -10 13.87

0.08 0.07 0.04 0.21

0.08 0.07 0.04 0.21

0.28 0.53 0.2 0.68

0.08 0.05 0.01 0.18

0.28 0.58 0.49 1.43


Menu
1 Operating Cash Flow/Sales Ratio
0.25
0.2
0.15
Row 116
0.1 Linear
0.05 Regression for
Row 116

Value
0 Row 8
-0.05 Linear
Regression for
-0.1 Row 8
-0.15
-0.2
2004 2005 2006 2007 2008
Year

Operating Cash Flow(CFO2)/Sales Ratio


2
1.8
1.6
1.4 Row 118
1.2 Linear
Regression for
1 Row 118
Value

0.8 Row 10
0.6 Linear
Regression for
0.4 Row 10
0.2
0
2004 2005 2006 2007 2008
Year

Operating Cash Flow(CFO3)/Assets Ratio


3
0.5

0.4 Row 120


Linear
0.3 Regression for
Row 120
Value

0.2 Row 48
Linear
Regression for
0.1 Row 48

0
2004 2005 2006 2007 2008
Year

Operating Cash Flow(CFO3)/Equity


4
0.2
0 Row 122
Linear
-0.2 Regression for
Row 122
Value

-0.4
Row 14
-0.6 Linear
Regression for
-0.8 Row 14
-1
2004 2005 2006 2007 2008
Year
Operating Cash Flow(CFO3)/Equity
0.2
0 Row 122
Linear
-0.2 Regression for
Row 122

Value
-0.4
Row 14
-0.6 Linear
Regression for
-0.8 Row 14
-1
2004 2005 2006 2007 2008
Year

Operating Cash Flow Per Share


5
100
50
Row 124
0 Linear Regression
-50 for Row 124
Row 16

Value
-100 Linear Regression
for Row 16
-150
-200
-250
2004 2005 2006 2007 2008
Year

Interest Cover Ratio


6
200
0
-200 Row 127
Linear Regression
-400 for Row 127
Value

Row 19
-600 Linear Regression
for Row 19
-800
-1000
-1200
2004 2005 2006 2007 2008
Year

Dividend Cover Ratio


30
20 Row 129
Linear Regression
10 for Row 129
Row 21
Value

0
Linear Regression
-10 for Row 21
-20
-30
2004 2005 2006 2007 2008
Year

Acruisition of Fixed Assets Ratio


0.25

0.2 Row 131


Linear
Regression for
0.15 Row 131
Row 23
e
Acruisition of Fixed Assets Ratio
0.25

0.2 Row 131


Linear
Regression for
0.15 Row 131
Row 23

Value
Linear
0.1 Regression for
Row 23

0.05

0
2004 2005 2006 2007 2008
Year

Acquisition of Fixed Assets & Subsidiaries Ratio


0.25

0.2 Row 133


Linear Regression
0.15 for Row 133
Row 25
Value

0.1 Linear Regression


for Row 25

0.05

0
2004 2005 2006 2007 2008
Year

Debt Coverage Ratio


2

1.5 Row 136


Linear Regress
for Row 136
Value

1
Row 28
Linear Regress
0.5 for Row 28

0
2004 2005 2006 2007 2008
Year
Linear Regress
0.5 for Row 28

0
2004 2005 2006 2007 2008
Year

Current Liability Coverage Ratio


0.35
0.3
0.25 Row 138
Linear Regress
0.2
for Row 138

Value
0.15 Row 30
Linear Regress
0.1 for Row 30
0.05
0
2004 2005 2006 2007 2008
Year

Current Portion of Long-Term Debt Coverage


2

1.5 Row 140


Linear Reg
for Row 14
Value

1
Row 32
Linear Reg
0.5
for Row 32

0
2004 2005 2006 2007 2008
Year
116
ar
ression for
116
8
ar
ression for
8

atio

18

sion for
18
0

sion for
0

ion for
0

ion for

122
ar
ression for
122
14
ar
ression for
14
122
ar
ression for
122
14
ar
ression for
14

Row 124
Linear Regression
or Row 124
Row 16
Linear Regression
or Row 16

Row 127
Linear Regression
for Row 127
Row 19
Linear Regression
for Row 19

Row 129
inear Regression
or Row 129
Row 21
inear Regression
or Row 21

atio

Row 131
Linear
Regression for
Row 131
Row 23
atio

Row 131
Linear
Regression for
Row 131
Row 23
Linear
Regression for
Row 23

008

es Ratio

Row 133
Linear Regression
for Row 133
Row 25
Linear Regression
for Row 25

Row 136
Linear Regression
for Row 136
Row 28
Linear Regression
for Row 28

2008
Linear Regression
for Row 28

2008

age Ratio

Row 138
Linear Regression
for Row 138
Row 30
Linear Regression
for Row 30

2008

m Debt Coverage

Row 140
Linear Regression
for Row 140
Row 32
Linear Regression
for Row 32

2008
Menu

Sreepur Textile Mills Limited

Apex Spinning Mills Limited

StyleCraft Limited
Weight Based on Assets

Sreepur Textile Mills Limited


Apex Spinning Mills Limited
StyleCraft Limited

Liquidity Ratios
Current Ratio
Quick Ratio

Quick Ratio (Current Assets-Inventory)/(Current Liabilities)

Net Working Capital to Sales Ratio (Current Assets-Current Liabilities/(Sales)

Profitability Ratios

Gross Profit Margin (Gross Income/Sales)

Operationg Profit Margin (Operating Income/Sales)

Net Profit Margin (Net Income/Sales)

Activity Ratios

Inventory Turnover (Cost of Goods Sold/Inventory)

Accounts Receivable Turnover (Sales on Credit/Accounts Receivable)

Total Asset Turnover (Sales/Total Assets)


Fixed Asset Turnover (Sales/Fixed Assets)

Financial Leverage Ratios

Total Debt to Assets Ratio (Total Debt/Total Assets)

Long Term Debt to Assets Ratio (Long Term Debt/Total Assets)

Total Debt to Equity Ratio (Total Debt/Total Shareholders Equity)

Coverage Financial Leverage Ratios

Times Interest Coverage Ratio (Earnings Before Interest and Tax/Interest)

Fixed Charge Coverage Ratios ( EBIT+Lease Payment)/(Interest+Lease Payment)

Share Holders Ratios

Earnings Per Share (Net Income to Share Holders/Number Of Share Outstanding)

Dividend Per Share (Dividend Paid to Shareholders / Number of Share Outstanding)

Dividend Payout Ratio (Dividends/Earnings)

Retention Ratio (Earnings- Dividends/Earnings)

StyleCraft Limited

Liquidity Ratios

Current Ratio (Current Assets/Current Liabilities)

Quick Ratio (Current Assets-Inventory)/(Current Liabilities)

Net Working Capital to Sales Ratio (Current Assets-Current Liabilities/(Sales)

Profitability Ratios
Gross Profit Margin (Gross Income/Sales)

Operationg Profit Margin (Operating Income/Sales)

Net Profit Margin (Net Income/Sales)

Activity Ratios

Inventory Turnover (Cost of Goods Sold/Inventory)

Accounts Receivable Turnover (Sales on Credit/Accounts Receivable)

Total Asset Turnover (Sales/Total Assets)

Fixed Asset Turnover (Sales/Fixed Assets)

Financial Leverage Ratios

Total Debt to Assets Ratio (Total Debt/Total Assets)

Long Term Debt to Assets Ratio (Long Term Debt/Total Assets)

Total Debt to Equity Ratio (Total Debt/Total Shareholders Equity)

Coverage Financial Leverage Ratios

Times Interest Coverage Ratio (Earnings Before Interest and Tax/Interest)

Fixed Charge Coverage Ratios ( EBIT+Lease Payment)/(Interest+Lease Payment)

Share Holders Ratios

Earnings Per Share (Net Income to Share Holders/Number Of Share Outstanding)

Dividend Per Share (Dividend Paid to Shareholders / Number of Share Outstanding)

Dividend Payout Ratio (Dividends/Earnings)

Retention Ratio (Earnings- Dividends/Earnings)


Apex Spinning Mills Ltd.

Liquidity Ratios

Current Ratio (Current Assets/Current Liabilities)

Quick Ratio (Current Assets-Inventory)/(Current Liabilities)

Net Working Capital to Sales Ratio (Current Assets-Current Liabilities/(Sales)

Profitability Ratios

Gross Profit Margin (Gross Income/Sales)

Operationg Profit Margin (Operating Income/Sales)

Net Profit Margin (Net Income/Sales)

Activity Ratios

Inventory Turnover (Cost of Goods Sold/Inventory)

Accounts Receivable Turnover (Sales on Credit/Accounts Receivable)

Total Asset Turnover (Sales/Total Assets)

Fixed Asset Turnover (Sales/Fixed Assets)

Financial Leverage Ratios

Total Debt to Assets Ratio (Total Debt/Total Assets)

Long Term Debt to Assets Ratio (Long Term Debt/Total Assets)

Total Debt to Equity Ratio (Total Debt/Total Shareholders Equity)

Coverage Financial Leverage Ratios

Times Interest Coverage Ratio (Earnings Before Interest and Tax/Interest)


Fixed Charge Coverage Ratios ( EBIT+Lease Payment)/(Interest+Lease Payment)

Share Holders Ratios

Earnings Per Share (Net Income to Share Holders/Number Of Share Outstanding)

Dividend Per Share (Dividend Paid to Shareholders / Number of Share Outstanding)

Dividend Payout Ratio (Dividends/Earnings)

Retention Ratio (Earnings- Dividends/Earnings)

Liquidity Ratios

Current Ratio (Current Assets/Current Liabilities)

Quick Ratio (Current Assets-Inventory)/(Current Liabilities)

Net Working Capital to Sales Ratio (Current Assets-Current Liabilities/(Sales)

Profitability Ratios

Gross Profit Margin (Gross Income/Sales)

Operationg Profit Margin (Operating Income/Sales)

Net Profit Margin (Net Income/Sales)

Activity Ratios

Inventory Turnover (Cost of Goods Sold/Inventory)

Accounts Receivable Turnover (Sales on Credit/Accounts Receivable)

Total Asset Turnover (Sales/Total Assets)

Fixed Asset Turnover (Sales/Fixed Assets)


Financial Leverage Ratios

Total Debt to Assets Ratio (Total Debt/Total Assets)

Long Term Debt to Assets Ratio (Long Term Debt/Total Assets)

Total Debt to Equity Ratio (Total Debt/Total Shareholders Equity)

Coverage Financial Leverage Ratios

Times Interest Coverage Ratio (Earnings Before Interest and Tax/Interest)

Fixed Charge Coverage Ratios ( EBIT+Lease Payment)/(Interest+Lease Payment)

Share Holders Ratios

Earnings Per Share (Net Income to Share Holders/Number Of Share Outstanding)

Dividend Per Share (Dividend Paid to Shareholders / Number of Share Outstanding)

Dividend Payout Ratio (Dividends/Earnings)

Retention Ratio (Earnings- Dividends/Earnings)


2004 Weight 2005 Weight 2006 Weight 2007 Weight
571189814 0.52 548552243 0.45 517596975 0.44 497248470 0.4

329065698 0.3 375796393 0.31 360836516 0.3 450,637,433 0.36

193626536 0.18 281660018 0.23 311440448 0.26 301027950 0.24


1093882048 1 1206008654 1 1189873939 1 1,248,913,853 1

2004 2005 2006 2007 2008


0.52 0.45 0.44 0.4 0.38
0.3 0.31 0.3 0.36 0.36
0.18 0.23 0.26 0.24 0.27

Sreepur Textile Mills Limited


2004 2005 2006 2007 2008
0.15 0.12 0.1 0.09 0.08
0.01 0.01 0.01 0.01 0.01

-1.7 -0.86 -5.66 #DIV/0! #DIV/0!

-0.39 -0.21 -0.84 #DIV/0! #DIV/0!

-0.79 -0.31 -0.89 #DIV/0! #DIV/0!

-0.73 -0.3 -1.08 #DIV/0! #DIV/0!

0.75 1.02 0.36 0 0

0.04 0.08 0.01 0 0


0.05 0.09 0.01 0 0

0.66 0.63 0.64 0.61 0.61

0.45 0.43 0.44 0.42 0.41

-2.51 -1.63 -1.34 -1.13 -0.98

-2.09 -2.33 -45.83 -1416.39 -2626.03

-2.09 -2.33 -45.83 -1416.39 -2626.03

-25.64 -20.06 -11.19 -6.42 -6.03

2004 2005 2006 2007 2008

0.18 0.32 0.33 0.31 0.38

0 0.08 0.07 0.07 0.11

0 0.02 0.01 0.01 0.02


0.01 0.02 0.02 0.02 0.02

0 0 0 0 0

0 0 0 0 0

2.53 3.02 2.9 2.48 2.32

2.65 2.76 3.16 1.92 3.62

0.84 0.65 0.88 0.89 0.96

0.84 0.82 1.05 1.11 1.27

0 0.07 0.07 0.07 0.09

0 0.06 0.07 0.06 0.08

0.01 0.18 0.19 0.19 0.26

2.75 1.88 1.03 1.04 0.96

2.75 1.88 1.03 1.04 0.96

23.5 17.15 27.06 17.49 21.89

7.78 7.7 8.69 7.18 9.19

0 0 0 0 0

0.17 0.23 0.26 0.24 0.26


2004 2005 2006 2007 2008

0.31 0.31 0.31 0.4 0.4

0.25 0.22 0.21 0.21 0.21

0.04 0.03 0.03 0.05 0.04

0.01 0.01 0.01 0.01 0.01

6.46 4.51 4.19 2.3 2.49

2.81 3.88 3.05 2.75 2.93

0.92 1.18 1.62 1.28 1.37

7.63 11.18 14.67 60.08 64.05

0.29 0.33 0.39 0.46 0.46

0.38 0.44 0.44 0.52 0.52

1.07 0.78 1.13 0.36 0.97


1.07 0.78 1.13 0.36 0.97

13.52 17.51 17.29 21.03 28.34

4.51 5.61 5.46 7.22 7.17

0.1 0.1 0.1 0.12 0.09

0.2 0.21 0.21 0.24 0.27

I Industry Average
2004 2005 2006 2007 2008
0.64 0.75 0.73 0.81 0.86

0.26 0.32 0.29 0.29 0.33

-1.7 -0.84 -5.65 #DIV/0! #DIV/0!

-0.34 -0.16 -0.79 #DIV/0! #DIV/0!

-0.79 -0.3 -0.89 #DIV/0! #DIV/0!

-0.72 -0.29 -1.07 #DIV/0! #DIV/0!

9.74 8.55 7.45 4.78 4.81

5.46 6.64 6.22 4.67 6.55

1.81 1.91 2.51 2.17 2.33

8.52 12.08 15.74 61.19 65.33


0.95 1.03 1.1 1.15 1.16

0.66 0.69 0.71 0.67 0.69

-2.13 -1.02 -0.71 -0.42 -0.21

1.73 0.33 -43.66 -1414.99 -2624.09

1.73 0.33 -43.66 -1414.99 -2624.09

11.38 14.59 33.15 32.11 44.2

12.3 13.31 14.15 14.39 16.36

0.1 0.1 0.1 0.13 0.1


0.37 0.44 0.46 0.47 0.53
2008 Weight
472680904 0.38

450637433 0.36

333446795 0.27
1256765132 1
Menu

Monno Febrics Ltd.


Balance Sheet
As at December 30 for following years

2004 2005 2006

Total Assets 3362348231 3187404094 3170805901


Total Equity 1464984895 1516334280 1517343430
Gross Income 420014709 324543681 332036660
Non Operating Income 427688 130900 808701
Operating Expense 62812829 32015773 35211003
Interest Expense 226509814 217594814 224124751
Net income 106161874 71495752 70009150
Contribution to WWF Fund 6223432 3568242 3500457

Return on Equity 0.07 0.05 0.05


Equity Multiplier 2.3 2.1 2.09
Gross Income/ Total Assets 0.12 0.1 0.1
Non Operating Income/Total Assets 0 0 0
Operating Expenses/Total Assets 0.02 0.01 0.01
Interest Expense/Total Assets 0.07 0.07 0.07
Contribution to WWF Fund/ Total assets 0 0 0
0.04 0.02 0.02
Return on Equity 0.09 0.05 0.05
Error Ok Ok

Total Assets 3362348231


Total Equity 1464984895
Gross Income 420014709
Non Operating Income
Operating Expense
Interest Expense
Net income
Contribution to WWF Fund

Return on Equity
Equity Multiplier
Gross Income/ Total Assets
Non Operating Income/Total Assets
Operating Expenses/Total Assets
Interest Expense/Total Assets
Contribution to WWF Fund/ Total assets

Return on Equity
nno Febrics Ltd. Monno Febrics Ltd.
lance Sheet Profit & Loss Accout
mber 30 for following years For the Year Ended December 31, 2004, 200

2007 2008
Particulars
3432827872 3581786270 Net Revenue
1510486803 1408500189 Cost of Goods Sold
365423069 283880360
182165 782335 Gross Profit
40297251 41608213
244867621 287441096 Operating Expenses
62143373 -44486614 Administrative Expense
3830493 0 Selling and Distribution Expenses

0.04 -0.03 Profit from Operations


2.27 2.54 Other Incomes
0.11 0.08 Finance Cost
0 0
0.01 0.01 Net Profit Before Contribution to WPPF
0.07 0.08 Contribution to WPPF & WFF
0 0
0.02 -0.01 Net Profit Before Tax
0.05 -0.03 Incone Tax Provision
Error Error
Net Profit After Tax-Tranfered to statement of change in equity
Basic Earnings per share(per value TK.100)
Number of share used
Febrics Ltd.
Loss Accout
ar Ended December 31, 2004, 2005, 2006, 2007, 2008,2009

31.12.2004 31.12.2005 31.12.2006 31.12.2007 31.12.2008


1777722225 1369435429 1506857027 1540870413 1577113111 ASSETS
1357707516 1044891748 1174820367 1175447344 1293232751 Non-current Assets
Propertay, plan and Eq
420014709 324543681 332036660 365423069 283880360 Land and Land Develop
Building and Other Cons
62812829 32015773 35211003 40297251 41608213 Plant, Machinery and Ot
28925724 16576098 17080615 23534991 24951525 Office Equipment
33887105 15439675 18130388 16762260 16656688 Vehicles
Furniture and Fictures
357201880 292527908 296825657 325125818 242272147 Sundry Assets
427688 130900 808701 182165 782335 Capital work in Process
226509814 217594814 224124751 244867621 287441096 Total Amount

131119754 75063994 73509607 80440362 -44386614


6223432 3568242 3500457 3830493 0
Curent Assats
124896322 71495752 70009150 76609869 -44386614 Inventories:
18734448 0 0 14466496 100000 Raw Materials
Finished Goods
statement of change in equity
106161874 71495752 70009150 62143373 -44486614 Store & Spares
9.23 6.22 6.09 5.4 -3.87 Work-in-process
11500000 11500000 11500000 11500000 11500000 Materials-in-transit

Trade & other receivable


Advance, deposit & pre-
Advances
Deposits
Pre-payment
Cash & cash equvelent:
Cash in Hand
Cash at Banks
TOTAL ASSETS
EQITY & LIABILITIES

Share Holders' Equity


Issued and paid-up shar
Share Premium
Tax Holiday Resurve
Retained Earnings
Proposed Dividend

Non-Current Liabilities
Long Term Borrowing ( S
Deferred Liability

Current Liabilities
Short Term Borriwings
Long Term Loans ( Curr
Trade & other Payables
Accured Expences
Unclaimed Dividend
Provision for Income Tax
Liabilities for Other Finan

TOTAL LIABILITIES AN
Monno Febrics Ltd.
Balance sheet
As the december 31,2004,05,06,07,08,09

2004 2005 2006 2007 2008

Non-current Assets 2269886998 2147310185 2090188451 2044896725 1979035508


Propertay, plan and Equipment at cost Less Depreciation:
Land and Land Development 79456998 95316363 98280506 99632428 101032891
Building and Other Construction 412512226 505905720 535298309 532612522 542396171
Plant, Machinery and Other Equipment 1684815585 1513265403 1439599561 1373021465 1318884225
Office Equipment 6060233 7053836 7103462 7170302 7260763
475214 405772 290470 237376 190700
Furniture and Fictures 5040770 7053460 6782510 6661790 6110158
Sundry Assets 2818734 2718121 2506609 2338147 2119090
Capital work in Process 78707238 15591510 327024 23222695 1041510
Total Amount 2269886998 2147310185 2090188451 2044896725 1979035508

Curent Assats 1092461233 1040093909 1080617450 1387931147 1602750762


Inventories: 327127392 308169660 430040243 661907131 804538224
Raw Materials 77076645 57698502 95425039 158340600 199543569
Finished Goods 83314919 71749754 102201836 142128918 184831803
Store & Spares 19281660 21957678 53753516 62073278 80928269
Work-in-process 137084478 134737776 146920276 264718241 338915850
Materials-in-transit 10369690 22025950 31739576 34646094 318733

Trade & other receivables 662697006 610485108 505004319 489131171 561736245


Advance, deposit & pre-payament: 73140771 111751190 126722996 204301495 199881551
23419261 38674796 32421717 54517782 57112342
24663521 31230431 30968690 30942562 26620630
Pre-payment 25057989 41845963 63332589 118841151 116148579
Cash & cash equvelent: 29496064 9687951 18849892 32591350 36594742
Cash in Hand 2699478 2584093 6389000 8441248 2405240
Cash at Banks 26796586 7103858 12460892 24150102 34189502
TOTAL ASSETS 3362348231 3187404094 3170805901 3432827872 3581786270
EQITY & LIABILITIES

Share Holders' Equity 1464984895 1516334280 1517343430 1510486803 1408500189


Issued and paid-up share capital 1150000000 1150000000 1150000000 1150000000 1150000000
Share Premium 370575835 370575835 370575835 370575835 370575835
Tax Holiday Resurve 78224531 0 0 -67589032 -112075646
Retained Earnings -191315471 -73241555 -72232405 57500000 0
Proposed Dividend 57500000 69000000 69000000 0 0

Non-Current Liabilities 936831567 801676104 656296740 697928666 671920512


Long Term Borrowing ( Secured) 927082467 790264974 643340915 684972841 659011086
Deferred Liability 9749100 11411130 12955825 12955825 12909426

Current Liabilities 960131769 869393710 997165731 1224412403 1501365569


Short Term Borriwings 715085474 693929869 704311607 676007609 666806390
Long Term Loans ( Current Position) 65227164 69769257 74729336 26271152 73038747
Trade & other Payables 104958209 63250014 162320409 426298519 640929034
Accured Expences 21671063 24068210 34068724 56288183 51693424
Unclaimed Dividend 6718307 8561502 12147118 14623963 45483352
Provision for Income Tax 37471248 117615 117615 14584111 14684111
Liabilities for Other Finance 9000304 9697243 9470922 10338866 8730511

TOTAL LIABILITIES AND SHARE HOLDERS' EQUITY 3361948231 3187404094 3170805901 3432827872 3581786270
Monno Febrics Ltd.
Cash Flow Statement
For the Year Ended December 31, 2004, 2005, 2006, 2007, 2008, 2009

2004 2005 2006


Cash Flow From Operating Activities: 271919845 245558034 312708865
Cah Receipts from Customers and others 1818915767 1422097068 1613142352
Cash Paid to Suppliers and Employees 1472924093 1109891541 1213775164
Cash Generated from Operation 345991674 312205527 399367188
Interest paid 70683032 65372821 79581518
Income Tax deducted at sourrce 3388797 1274672 7076805

Cash Flow From Investing Activities: -51508778 27988391 -34262112


Acquisition of Property,Plant & Equipment 73609778 87179182 34322112
Cash Realissed on Leasing of Machinery 22101000 115167573 60000

Cash Flow From Finanicng Activities: -219157848 -293354538 -269284812


Decrease in Long Term Borrowings 124169569 132675400 141963980
Installment of IDCP 35626337 0 0
Interest on Ling Term Borrowings 95229159 83866728 72288186
Increase in Short Term Borrowings(Cash Credit) 59852293 19973781 53973538
Increase in Short Term Borrowings from Banks 31053819 1181824 43591800
Dividend Paid 55038895 55656805 65414384
Temporary Loan Refunded by MCIL 0 0 0
Increase in Long Term Borrowings 0 0 0
INCrease /( Decrease) in Cash and cash equivalents 1253219 -19808113 9161941
Cash & Cash Equivalents at Beginning of Year 28242845 29496064 9687951
Cash & Cash Equivalents at End of Year 29496064 9687951 18849892
2007 2008
246762519 113574096
1556925727 1505290372
1218082661 1304700729
338843066 200589643
84071414 82332869
8009133 4682678

-42812356 -19230127
42812356 19230127
0 0

-190208705 -90340577
0 0
0 0
88555293 75304587
10809670 7865422
39113669 17066641
66523155 26640611
0 0
6826258 20805840
13741458 4003392
18849892 32591350
32591350 36594742
Menu
Monno Febrics Ltd.
2004 2005 2006 2007
Day Day Day Day
Iinventory Conversion Period 221.23 273.42 258.17 324.27
Receivable Collection Period 134.20 160.49 120.65 114.28
Payables Deferral Period 27.83 21.79 49.74 130.56

Cash Conversion Cycle 327.60 412.12 329.08 307.99

Apex Spinning Mills Limited


2004 2005 2006 2007
Day Day Day Day
Iinventory Conversion Period 86.32 78.66 79.17 132.32
Receivable Collection Period 38.55 28.91 35.77 47.23
Payables Deferral Period 92.48 76.02 66.60 109.74

Cash Conversion Cycle 32.39 31.56 48.34 69.81

Sreepur Textile Mills Limited


2004 2005 2006 2007
Day Day Day Day
Iinventory Conversion Period 21.20 15.36 9.58 11.51
Receivable Collection Period 0.00 0.00 0.00 0.00
Payables Deferral Period 0.00 0.00 0.00 0.00

Cash Conversion Cycle 21.20 15.36 9.58 11.51

StyleCraft Limited
2004 2005 2006 2007
Day Day Day Day
Iinventory Conversion Period 23.07 25.51 29.77 31.97
Receivable Collection Period 24.05 30.49 29.78 45.23
Payables Deferral Period 1.89 1.41 1.13 0.96

Cash Conversion Cycle 45.23 54.59 58.41 76.24


Assumption,
2008 Sales yearly
Day perchase Yearly
365.85
128.22
178.42

315.66

2008
Day
123.34
44.02
100.67

66.69

2008
Day
9.61
0.00
0.00

9.61

2008
Day
37.74
26.42
0.97

63.19
360
360
Menu

Monno Febrics Ltd.


Balance sheet
As the december 31,2004,05,06,07,08,09

2004 2005

ASSETS
Non-current Assets 2269886998 67.51% 2147310185
Propertay, plan and Equipment at cost Less Depreciation:
Land and Land Development 79456998 2.36% 95316363
Building and Other Construction 412512226 12.27% 505905720
Plant, Machinery and Other Equipment 1684815585 50.11% 1513265403
Office Equipment 6060233 0.18% 7053836
Vehicles 475214 0.01% 405772
Furniture and Fictures 5040770 0.15% 7053460
Sundry Assets 2818734 0.08% 2718121
Capital work in Process 78707238 2.34% 15591510
Total Amount 2269886998 67.51% 2147310185

Curent Assats 1092461233 32.49% 1040093909


Inventories: 327127392 9.73% 308169660
Raw Materials 77076645 2.29% 57698502
Finished Goods 83314919 2.48% 71749754
Store & Spares 19281660 0.57% 21957678
Work-in-process 137084478 4.08% 134737776
Materials-in-transit 10369690 0.31% 22025950

Trade & other receivables 662697006 19.71% 610485108


Advance, deposit & pre-payament: 73140771 2.18% 111751190
Advances 23419261 0.70% 38674796
Deposits 24663521 0.73% 31230431
Pre-payment 25057989 0.75% 41845963
Cash & cash equvelent: 29496064 0.88% 9687951
Cash in Hand 2699478 0.08% 2584093
Cash at Banks 26796586 0.80% 7103858
TOTAL ASSETS 3362348231 100.00% 3187404094
EQITY & LIABILITIES

Share Holders' Equity 1464984895 43.58% 1516334280


Issued and paid-up share capital 1150000000 34.21% 1150000000
Share Premium 370575835 11.02% 370575835
Tax Holiday Resurve 78224531 2.33% 0
Retained Earnings -191315471 -5.69% -73241555
Proposed Dividend 57500000 1.71% 69000000

Non-Current Liabilities 936831567 27.87% 801676104


Long Term Borrowing ( Secured) 927082467 27.58% 790264974
Deferred Liability 9749100 0.29% 11411130

Current Liabilities 960131769 28.56% 869393710


Short Term Borriwings 715085474 21.27% 693929869
Long Term Loans ( Current Position) 65227164 1.94% 69769257
Trade & other Payables 104958209 3.12% 63250014
Accured Expences 21671063 0.64% 24068210
Unclaimed Dividend 6718307 0.20% 8561502
Provision for Income Tax 37471248 1.11% 117615
Liabilities for Other Finance 9000304 0.27% 9697243

TOTAL LIABILITIES AND SHARE HOLDERS' EQUITY 3361948231 100.00% 3187404094

Monno Febrics Ltd.


Profit & Loss Accout
For the Year Ended December 31, 2004, 2005, 2006, 2007, 2008,2009

Particulars 31.12.2004 31.12.2005


Net Revenue 1777722225 100.00% 1369435429
Cost of Goods Sold 1357707516 76.37% 1044891748

Gross Profit 420014709 23.63% 324543681


0.00%
Operating Expenses -62812829 -3.53% -32015773
Administrative Expense -28925724 -1.63% -16576098
Selling and Distribution Expenses -33887105 -1.91% -15439675

Profit from Operations 357201880 20.09% 292527908


Other Incomes 427688 0.02% 130900
Finance Cost 226509814 12.74% 217594814

Net Profit Before Contribution to WPPF 131119754 7.38% 75063994


Contribution to WPPF & WFF -6223432 -0.35% -3568242
0.00%
Net Profit Before Tax 124896322 7.03% 71495752
Incone Tax Provision -18734448 -1.05% 0

Net Profit After Tax-Tranfered to statement of change in equity


106161874 5.97% 71495752
Basic Earnings per share(per value TK.100) 9.23 6.22
Number of share used 11500000 11500000

Monno Febrics Ltd.


Cash Flow Statement
For the Year Ended December 31, 2004, 2005, 2006, 2007, 2008, 2009

2004 2005
Cash Flow From Operating Activities: 271919845 245558034
Cah Receipts from Customers and others 1818915767 1422097068
Cash Paid to Suppliers and Employees 1472924093 1109891541
Cash Generated from Operation 345991674 312205527
Interest paid 70683032 65372821
Income Tax deducted at sourrce 3388797 1274672

Cash Flow From Investing Activities: -51508778 27988391


Acquisition of Property,Plant & Equipment 73609778 87179182
Cash Realissed on Leasing of Machinery 22101000 115167573

Cash Flow From Finanicng Activities: -219157848 -293354538


Decrease in Long Term Borrowings 124169569 132675400
Installment of IDCP 35626337 0
Interest on Ling Term Borrowings 95229159 83866728
Increase in Short Term Borrowings(Cash Credit) 59852293 19973781
Increase in Short Term Borrowings from Banks 31053819 1181824
Dividend Paid 55038895 55656805
Temporary Loan Refunded by MCIL 0 0
Increase in Long Term Borrowings 0 0
INCrease /( Decrease) in Cash and cash equivalents 1253219 -19808113
Cash & Cash Equivalents at Beginning of Year 28242845 29496064
Cash & Cash Equivalents at End of Year 29496064 9687951
2006 2007 2008

67.37% 2090188451 65.92% 2044896725 59.57% 1979035508 55.25%


0.00%
2.99% 98280506 3.10% 99632428 2.90% 101032891 2.82%
15.87% 535298309 16.88% 532612522 15.52% 542396171 15.14%
47.48% 1439599561 45.40% 1373021465 40.00% 1318884225 36.82%
0.22% 7103462 0.22% 7170302 0.21% 7260763 0.20%
0.01% 290470 0.01% 237376 0.01% 190700 0.01%
0.22% 6782510 0.21% 6661790 0.19% 6110158 0.17%
0.09% 2506609 0.08% 2338147 0.07% 2119090 0.06%
0.49% 327024 0.01% 23222695 0.68% 1041510 0.03%
67.37% 2090188451 65.92% 2044896725 59.57% 1979035508 55.25%

32.63% 1080617450 34.08% 1387931147 40.43% 1602750762 44.75%


9.67% 430040243 13.56% 661907131 19.28% 804538224 22.46%
1.81% 95425039 3.01% 158340600 4.61% 199543569 5.57%
2.25% 102201836 3.22% 142128918 4.14% 184831803 5.16%
0.69% 53753516 1.70% 62073278 1.81% 80928269 2.26%
4.23% 146920276 4.63% 264718241 7.71% 338915850 9.46%
0.69% 31739576 1.00% 34646094 1.01% 318733 0.01%

19.15% 505004319 15.93% 489131171 14.25% 561736245 15.68%


3.51% 126722996 4.00% 204301495 5.95% 199881551 5.58%
1.21% 32421717 1.02% 54517782 1.59% 57112342 1.59%
0.98% 30968690 0.98% 30942562 0.90% 26620630 0.74%
1.31% 63332589 2.00% 118841151 3.46% 116148579 3.24%
0.30% 18849892 0.59% 32591350 0.95% 36594742 1.02%
0.08% 6389000 0.20% 8441248 0.25% 2405240 0.07%
0.22% 12460892 0.39% 24150102 0.70% 34189502 0.95%
100.00% 3170805901 100.00% 3432827872 100.00% 3581786270 100.00%

47.57% 1517343430 47.85% 1510486803 44.00% 1408500189 39.32%


36.08% 1150000000 36.27% 1150000000 33.50% 1150000000 32.11%
11.63% 370575835 11.69% 370575835 10.80% 370575835 10.35%
0.00% 0 0.00% -67589032 -1.97% -112075646 -3.13%
-2.30% -72232405 -2.28% 57500000 1.68% 0 0.00%
2.16% 69000000 2.18% 0 0.00% 0 0.00%

25.15% 656296740 20.70% 697928666 20.33% 671920512 18.76%


24.79% 643340915 20.29% 684972841 19.95% 659011086 18.40%
0.36% 12955825 0.41% 12955825 0.38% 12909426 0.36%

27.28% 997165731 31.45% 1224412403 35.67% 1501365569 41.92%


21.77% 704311607 22.21% 676007609 19.69% 666806390 18.62%
2.19% 74729336 2.36% 26271152 0.77% 73038747 2.04%
1.98% 162320409 5.12% 426298519 12.42% 640929034 17.89%
0.76% 34068724 1.07% 56288183 1.64% 51693424 1.44%
0.27% 12147118 0.38% 14623963 0.43% 45483352 1.27%
0.00% 117615 0.00% 14584111 0.42% 14684111 0.41%
0.30% 9470922 0.30% 10338866 0.30% 8730511 0.24%

100.00% 3170805901 100.00% 3432827872 100.00% 3581786270 100.00%

31.12.2006 31.12.2007 31.12.2008


100.00% 1506857027 100.00% 1540870413 100.00% 1577113111 100.00%
76.30% 1174820367 77.96% 1175447344 76.28% 1293232751 82.00%
0.00% 0.00% 0.00%
23.70% 332036660 22.04% 365423069 23.72% 283880360 18.00%
0.00% 0.00% 0.00% 0.00%
-2.34% -35211003 -2.34% -40297251 -2.62% -41608213 -2.64%
-1.21% -17080615 -1.13% -23534991 -1.53% -24951525 -1.58%
-1.13% -18130388 -1.20% -16762260 -1.09% -16656688 -1.06%
0.00%
21.36% 296825657 19.70% 325125818 21.10% 242272147 15.36%
0.01% 808701 0.05% 182165 0.01% 782335 0.05%
15.89% 224124751 14.87% 244867621 15.89% 287441096 18.23%
0.00% 0.00% 0.00% 0.00%
5.48% 73509607 4.88% 80440362 5.22% -44386614 -2.81%
-0.26% -3500457 -0.23% -3830493 -0.25% 0 0.00%
0.00% 0.00% 0.00%
5.22% 70009150 4.65% 76609869 4.97% -44386614 -2.81%
0.00% 0 0.00% -14466496 -0.94% -100000 -0.01%
0.00% 0.00% 0.00% 0.00%
5.22% 70009150 4.65% 62143373 4.03% -44486614 -2.82%
6.09 5.4 -3.87
11500000 11500000 11500000
2006 2007 2008
312708865 246762519 113574096
1613142352 1556925727 1505290372
1213775164 1218082661 1304700729
399367188 338843066 200589643
79581518 84071414 82332869
7076805 8009133 4682678

-34262112 -42812356 -19230127


34322112 42812356 19230127
60000 0 0

-269284812 -190208705 -90340577


141963980 0 0
0 0 0
72288186 88555293 75304587
53973538 10809670 7865422
43591800 39113669 17066641
65414384 66523155 26640611
0 0 0
0 6826258 20805840
9161941 13741458 4003392
9687951 18849892 32591350
18849892 32591350 36594742
Monno Febrics Ltd.
Balance sheet
As the december 31,2004,05,06,07,08,09

2004 2005

ASSETS
Non-current Assets 2269886998 2147310185
Propertay, plan and Equipment at cost Less Depreciation:
Land and Land Development 79456998 95316363
Building and Other Construction 412512226 505905720
Plant, Machinery and Other Equipment 1684815585 1513265403
Office Equipment 6060233 7053836
Vehicles 475214 405772
Furniture and Fictures 5040770 7053460
Sundry Assets 2818734 2718121
Capital work in Process 78707238 15591510
Total Amount 2269886998 2147310185

Curent Assats 1092461233 1040093909


Inventories: 327127392 308169660
Raw Materials 77076645 57698502
Finished Goods 83314919 71749754
Store & Spares 19281660 21957678
Work-in-process 137084478 134737776
Materials-in-transit 10369690 22025950

Trade & other receivables 662697006 610485108


Advance, deposit & pre-payament: 73140771 111751190
Advances 23419261 38674796
Deposits 24663521 31230431
Pre-payment 25057989 41845963
Cash & cash equvelent: 29496064 9687951
Cash in Hand 2699478 2584093
Cash at Banks 26796586 7103858
TOTAL ASSETS 3362348231 3187404094
EQITY & LIABILITIES

Share Holders' Equity 1464984895 1516334280


Issued and paid-up share capital 1150000000 1150000000
Share Premium 370575835 370575835
Tax Holiday Resurve 78224531 0
Retained Earnings -191315471 -73241555
Proposed Dividend 57500000 69000000

Non-Current Liabilities 936831567 801676104


Long Term Borrowing ( Secured) 927082467 790264974
Deferred Liability 9749100 11411130

Current Liabilities 960131769 869393710


Short Term Borriwings 715085474 693929869
Long Term Loans ( Current Position) 65227164 69769257
Trade & other Payables 104958209 63250014
Accured Expences 21671063 24068210
Unclaimed Dividend 6718307 8561502
Provision for Income Tax 37471248 117615
Liabilities for Other Finance 9000304 9697243

TOTAL LIABILITIES AND SHARE HOLDERS' EQUITY 3361948231 3187404094

Monno Febrics Ltd.


Profit & Loss Accout
For the Year Ended December 31, 2004, 2005, 2006, 2007, 2008,2009

Particulars 31.12.2004 31.12.2005


Net Revenue 1777722225 1369435429
Cost of Goods Sold 1357707516 1044891748

Gross Profit 420014709 324543681

Operating Expenses -62812829 -32015773


Administrative Expense -28925724 -16576098
Selling and Distribution Expenses -33887105 -15439675

Profit from Operations 357201880 292527908


Other Incomes 427688 130900
Finance Cost 226509814 217594814

Net Profit Before Contribution to WPPF 131119754 75063994


Contribution to WPPF & WFF -6223432 -3568242

Net Profit Before Tax 124896322 71495752


Incone Tax Provision -18734448 0

Net Profit After Tax-Tranfered to statement of change in equity


106161874 71495752
Basic Earnings per share(per value TK.100) 9.23 6.22
Number of share used 11500000 11500000

Monno Febrics Ltd.


Cash Flow Statement
For the Year Ended December 31, 2004, 2005, 2006, 2007, 2008, 2009

2004 2005
Cash Flow From Operating Activities: 271919845 245558034
Cah Receipts from Customers and others 1818915767 1422097068
Cash Paid to Suppliers and Employees 1472924093 1109891541
Cash Generated from Operation 345991674 312205527
Interest paid 70683032 65372821
Income Tax deducted at sourrce 3388797 1274672

Cash Flow From Investing Activities: -51508778 27988391


Acquisition of Property,Plant & Equipment 73609778 87179182
Cash Realissed on Leasing of Machinery 22101000 115167573

Cash Flow From Finanicng Activities: -219157848 -293354538


Decrease in Long Term Borrowings 124169569 132675400
Installment of IDCP 35626337 0
Interest on Ling Term Borrowings 95229159 83866728
Increase in Short Term Borrowings(Cash Credit) 59852293 19973781
Increase in Short Term Borrowings from Banks 31053819 1181824
Dividend Paid 55038895 55656805
Temporary Loan Refunded by MCIL 0 0
Increase in Long Term Borrowings 0 0
INCrease /( Decrease) in Cash and cash equivalents 1253219 -19808113
Cash & Cash Equivalents at Beginning of Year 28242845 29496064
Cash & Cash Equivalents at End of Year 29496064 9687951
2006 2007 2008 2004 2005 2006 2007 2008

2090188451 2044896725 1979035508 100.00% 94.60% 92.08% 90.09% 87.19%

98280506 99632428 101032891 100.00% 119.96% 123.69% 125.39% 127.15%


535298309 532612522 542396171 100.00% 122.64% 129.77% 129.11% 131.49%
1439599561 1373021465 1318884225 100.00% 89.82% 85.45% 81.49% 78.28%
7103462 7170302 7260763 100.00% 116.40% 117.21% 118.32% 119.81%
290470 237376 190700 100.00% 85.39% 61.12% 49.95% 40.13%
6782510 6661790 6110158 100.00% 139.93% 134.55% 132.16% 121.21%
2506609 2338147 2119090 100.00% 96.43% 88.93% 82.95% 75.18%
327024 23222695 1041510 100.00% 19.81% 0.42% 29.51% 1.32%
2090188451 2044896725 1979035508 100.00% 94.60% 92.08% 90.09% 87.19%

1080617450 1387931147 1602750762 100.00% 95.21% 98.92% 127.05% 146.71%


430040243 661907131 804538224 100.00% 94.20% 131.46% 202.34% 245.94%
95425039 158340600 199543569 100.00% 74.86% 123.81% 205.43% 258.89%
102201836 142128918 184831803 100.00% 86.12% 122.67% 170.59% 221.85%
53753516 62073278 80928269 100.00% 113.88% 278.78% 321.93% 419.72%
146920276 264718241 338915850 100.00% 98.29% 107.17% 193.11% 247.23%
31739576 34646094 318733 100.00% 212.41% 306.08% 334.11% 3.07%

505004319 489131171 561736245 100.00% 92.12% 76.20% 73.81% 84.77%


126722996 204301495 199881551 100.00% 152.79% 173.26% 279.33% 273.28%
32421717 54517782 57112342 100.00% 165.14% 138.44% 232.79% 243.87%
30968690 30942562 26620630 100.00% 126.63% 125.56% 125.46% 107.94%
63332589 118841151 116148579 100.00% 167.00% 252.74% 474.26% 463.52%
18849892 32591350 36594742 100.00% 32.84% 63.91% 110.49% 124.07%
6389000 8441248 2405240 100.00% 95.73% 236.68% 312.70% 89.10%
12460892 24150102 34189502 100.00% 26.51% 46.50% 90.12% 127.59%
3170805901 3432827872 3581786270 100.00% 94.80% 94.30% 102.10% 106.53%

1517343430 1510486803 1408500189 100.00% 103.51% 103.57% 103.11% 96.14%


1150000000 1150000000 1150000000 100.00% 100.00% 100.00% 100.00% 100.00%
370575835 370575835 370575835 100.00% 100.00% 100.00% 100.00% 100.00%
0 -67589032 -112075646 100.00% 0.00% 0.00% -86.40% -143.27%
-72232405 57500000 0 100.00% 38.28% 37.76% -30.06% 0.00%
69000000 0 0 100.00% 120.00% 120.00% 0.00% 0.00%

656296740 697928666 671920512 100.00% 85.57% 70.05% 74.50% 71.72%


643340915 684972841 659011086 100.00% 85.24% 69.39% 73.88% 71.08%
12955825 12955825 12909426 100.00% 117.05% 132.89% 132.89% 132.42%

997165731 1224412403 1501365569 100.00% 90.55% 103.86% 127.53% 156.37%


704311607 676007609 666806390 100.00% 97.04% 98.49% 94.54% 93.25%
74729336 26271152 73038747 100.00% 106.96% 114.57% 40.28% 111.98%
162320409 426298519 640929034 100.00% 60.26% 154.65% 406.16% 610.65%
34068724 56288183 51693424 100.00% 111.06% 157.21% 259.74% 238.54%
12147118 14623963 45483352 100.00% 127.44% 180.81% 217.67% 677.01%
117615 14584111 14684111 100.00% 0.31% 0.31% 38.92% 39.19%
9470922 10338866 8730511 100.00% 107.74% 105.23% 114.87% 97.00%

3170805901 3432827872 3581786270 100.00% 94.81% 94.31% 102.11% 106.54%

006, 2007, 2008,2009

31.12.2006 31.12.2007 31.12.2008 2004 2005 2006 2007 2008


1506857027 1540870413 1577113111 100.00% 77.03% 84.76% 86.68% 88.72%
1174820367 1175447344 1293232751 100.00% 76.96% 86.53% 86.58% 95.25%

332036660 365423069 283880360 100.00% 77.27% 79.05% 87.00% 67.59%

-35211003 -40297251 -41608213 100.00% 50.97% 56.06% 64.15% 66.24%


-17080615 -23534991 -24951525 100.00% 57.31% 59.05% 81.36% 86.26%
-18130388 -16762260 -16656688

296825657 325125818 242272147 100.00% 81.89% 83.10% 91.02% 67.82%


808701 182165 782335 100.00% 30.61% 189.09% 42.59% 182.92%
224124751 244867621 287441096 100.00% 96.06% 98.95% 108.10% 126.90%

73509607 80440362 -44386614 100.00% 57.25% 56.06% 61.35% -33.85%


-3500457 -3830493 0 100.00% 57.34% 56.25% 61.55% 0.00%

70009150 76609869 -44386614 100.00% 57.24% 56.05% 61.34% -35.54%


0 -14466496 -100000 100.00% 0.00% 0.00% 77.22% 0.53%

70009150 62143373 -44486614 100.00% 67.35% 65.95% 58.54% -41.90%


6.09 5.4 -3.87 100.00% 67.39% 65.98% 58.50% -41.93%
11500000 11500000 11500000
006, 2007, 2008, 2009

2006 2007 2008


312708865 246762519 113574096
1613142352 1556925727 1505290372
1213775164 1218082661 1304700729
399367188 338843066 200589643
79581518 84071414 82332869
7076805 8009133 4682678

-34262112 -42812356 -19230127


34322112 42812356 19230127
60000 0 0

-269284812 -190208705 -90340577


141963980 0 0
0 0 0
72288186 88555293 75304587
53973538 10809670 7865422
43591800 39113669 17066641
65414384 66523155 26640611
0 0 0
0 6826258 20805840
9161941 13741458 4003392
9687951 18849892 32591350
18849892 32591350 36594742
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Valuation Assumptions
Valuation Date 31st December 2006
Discount Rate 0.0%
Terminal Value
Terminal Switch 2
EBITDA Exit Multiple 6.0 x
Terminal Growth Rate 0.0%
Tax Rate 27.5%

(Tk in thousands) 2004 2005

Total Revenue 1777722225 1369435429


Growth Rate -0.23

COGS 1357707516 1044891748

Gross Margin 420014709 324543681


% of Sales 23.63% 23.70%

Operating Expenses -288894955 -253047929


% of Sales -16.25% -18.48%
Royalty, training and consultancy 0 0
% of Sales 0 0
General and Administrative 0 0
Total Operating Expenses -288894955 -253047929

EBIT 131119754 71495752


% of Sales 7.38% 5.22%

Depreciation/Amortization 100917182 94588422

EBITDA
% of Sales

Income Taxes 18734448 0

Unlevered Net Income 112385306 71495752

Add: Depreciation/Amortization
Less: Changes in Working Capital
Less: Capital Expenditures 73609778 87179182

Net Cash Flow Before Debt

Present Value of Adjusted Cash Flows


Enterprise Value ###

Plus: Cash 2405240


Less: Interest Debt 287441096
Equity Value: ###
No of shares outstanding 11500000
Equity value per share 1788.98
Market value per share on 15th October 95.75
Variance in compare to actual value 1693.23
Cash Flow Timing (1=12 months from valuation)
Rrojected

2006 2007 2008 2009E 2010E 2011E 2012E

1506857027 1540870413 1577113111 1725666883 1888213452 2066070847 2260681250


0.10 0.02 0.02 9% 9% 9% 9%

1174820367 1175447344 1293232751 1,342,306,306 1,468,742,808 1,607,088,804 1,758,466,091

332036660 365423069 283880360 383,360,577 419,470,643 458,982,043 502,215,159


22.04% 23.72% 18.00% 22% 22% 22% 22%

-262027510 -288813200 -328266974 (316,404,670) (346,207,927) (378,818,456) (414,500,685)


-17.39% -18.74% -20.81%
0 0 0 - - - -
0 0 0
0 0 0 - - - -
-262027510 -288813200 -328266974 (316,404,670) (346,207,927) (378,818,456) (414,500,685)

70009150 76609869 -44386614 699,765,247 765,678,570 837,800,499 916,715,844


4.65% 4.97% -2.81% 41% 41% 41% 41%

91388011 970363130 1055454474 1,154,871,404 1,263,652,760 1,382,680,611 1,512,920,109

1,854,636,650 2,029,331,330 2,220,481,110 2,429,635,953


107% 107% 107% 107%

0 14466496 100000 192,435,443 210,561,607 230,395,137 252,096,857

70009150 62143373 -44486614 507,329,804 555,116,964 607,405,362 664,618,987

1055454474 1,154,871,404 1,263,652,760 1,382,680,611 1,512,920,109


101385193 45,370 51,722 58,963 67,218
34322112 42812356 19230127 21,041,480 23,023,450 25,192,109 27,565,041

1,641,114,358 1,795,694,552 1,964,834,901 2,149,906,837

234,444,908 36,646,828 5,728,382 895,421


1 2 3 4
2013E Terminal Normalized Other assumptions

2473622684 $2,473,622,684 0.09 Weighted sales growth


9%

1,924,102,132 1,924,102,132 0.78 Average COGS/Sales

549,520,552 549,520,552
22% 0.22 Average Gross margin

(453,543,947) (453,543,947)
(0.18) Average as % of sales
-
0.00 Average as % of sales
-
(453,543,947) (453,543,947)

1,003,064,499 1,003,064,499
41%

1,655,427,319 1,655,427,319

2,658,491,818 2,658,491,818
107%

275,842,737 -

727,221,762 1,003,064,499

1,655,427,319 1,655,427,319
76,628 76,628
30,161,488 30,161,488

2,352,410,964 29,996,022,412 2,628,253,701

139,966 20,580,428,051
5 5
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Terminal growth rate


2004 2005 2006 2007 2008
Net Profit 112385306 71495752 70009150 62143373 -44486614
Stockholders equity 1464984895 1516334280 1517343430 1510486803 1408500189
ROE 0.08 0.05 0.05 0.04 -0.03
Dividend 55038895 55656805 65414384 66523155 26640611
Percentage of Dividend on net profit 0.49 0.78 0.93 1.07 -0.60
(1 - payout ratio) 0.51 0.22 0.07 -0.07 1.60
Sustainable growth/Terminal growth rate 0.04 0.01 0.00 0.00 -0.05
Mean

-0.02%
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Changes in Net Working Cap


(TK. '000)
Accounts: 2007 2008
Current Assets 1387931147 ###
Current Liabilities 1224412403 ###
Net working capital 163518744 101385193
Net changes in working capital -62133551

Sales Growth Rate 0.09

Monno Febrics Ltd.


Accounts: 2004 2005
Current Assets 1092461233 1040093909
Current Liabilities 960131769 869393710
Net working capital 132329464 170700199
Sales 1777722225 1369435429
Percentage Employment Working Capital against Sales 0.07 0.12

Apex Spinning Mills Limited


Accounts: 2004 2005
Current Assets 242155744 311893952
Current Liabilities 236441440 310523082
Net working capital 5714304 1370870
Sales 1009893080 1427363785
Percentage Employment Working Capital against Sales 0.01 0

Sreepur Textile Mills Limited


Accounts: 2004 2005
Current Assets 65581083 65619729
Current Liabilities 224407813 240604882
Net working capital -158826730 -174985153
Sales 48896163 92838439
Percentage Employment Working Capital against Sales -3.25 -1.88

StyleCraft Limited
Accounts: 2004 2005
Current Assets 87542990 138041910
Current Liabilities 87432432 101577610
Net working capital 110558 36464300
Sales 502273283 503166047
Percentage Employment Working Capital against Sales 0 0.07
anges in Net Working Capital
2009E 2010E 2011E 2012E 2013E
### ### ### ### ###
### ### ### ### ###
110935017 121384372 132817989 145328577 159017582
9549824 10449355 11433616 12510589 13689004

onno Febrics Ltd.


2006 2007 2008
1080617450 1387931147 1602750762
997165731 1224412403 1501365569
83451719 163518744 101385193
1506857027 1540870413 1577113111
0.06 0.11 0.06

ning Mills Limited


2006 2007 2008
423337043 588823931 588823931
418861229 528794507 528794507
4475814 60029424 60029424
1924903564 1601979126 1718675403
0 0.04 0.03

le Mills Limited
2006 2007 2008
56698749 57254680 52576984
245665247 247878678 245760760
-188966498 -190623998 -193183776
14512560 0 0
-13.02 #DIV/0! #DIV/0!

2006 2007 2008


154114145 154562624 172242096
123356806 118597642 120627251
30757339 35964982 51614845
633913878 672098705 773611979
0.05 0.05 0.07
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Competitor in the Industry -0.01


Market Change 0.01
Customer Need 0.02
Raw Material Market 0.02
Output Market 0.05
Government Regulation 0.01
Changes in other Situations 0.01
Influence of other factors 0.01
YearlySales Growth -0.02
Predicted sales growth 0.09

Assume that all other factors are not affected by the external and internal influences

Average Gross profit margen 22.22%


Average Cost of goods sold 77.78%
Average Operating Expenses -19.78%
Distribution and selling expenses 0.00%

Depriciation Calculation

Year 2008 2009E 2010E 2011E 2012E


Dep. For the gross PP&E 1055454474 1154871404 1263652760 1382680611 1512920109

Tax Rate 27.50%


2013E
1655427319
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Data that are used to calculate the beta coefficient.

Stock Index
Weekly Weekly Stock Market
Price Price Returns Returns
(Close) (Close)
95 6,657.98 4.68% 0.07% SUMMARY OUTPUT
90.75 6,653.29 0.00% -1.33%
90.75 6,743.21 -8.10% 1.05% Regression Statistics
98.75 6,672.97 -7.93% 1.48% Multiple R 0.19
107.25 6,575.59 -13.68% 3.67% R Square 0.03
124.25 6,342.76 64.03% -0.97% Adjusted R Square 0.02
75.75 6,404.97 -0.66% 1.51% Standard Error 0.12
76.25 6,309.44 -5.86% -1.91% Observations 76
81 6,432.50 17.82% 4.53%
68.75 6,153.68 -7.72% -0.58% ANOVA
74.5 6,189.85 -1.97% -1.74% df
76 6,299.74 -2.56% 0.64% Regression 1
78 6,259.70 -2.80% 0.92% Residual 74
80.25 6,202.67 -1.83% 2.12% Total 75
81.75 6,073.92 -1.51% 1.54%
83 5,981.86 2.15% 4.08% Coefficients
81.25 5,747.35 -2.69% 2.29% Intercept -0.01
83.5 5,618.42 -6.96% -0.64% X Variable 1 0.63
89.75 5,654.88 3.46% 0.71%
86.75 5,615.29 -1.14% 2.29%
87.75 5,489.67 -1.96% -1.44%
89.5 5,569.64 -1.10% -0.44%
90.5 5,594.32 -6.46% -0.42%
96.75 5,617.93 18.71% 3.87%
81.5 5,408.66 0.00% -1.66%
81.5 5,499.84 -3.26% -2.50%
84.25 5,640.94 -0.30% -0.76%
84.5 5,683.93 -3.43% -1.34%
87.5 5,760.95 -0.85% 2.22%
88.25 5,635.73 -3.55% 3.71%
91.5 5,434.04 -5.43% 0.81%
96.75 5,390.48 -5.15% 5.80%
102 5,095.21 5.43% 5.32%
96.75 4,838.06 3.75% 2.46%
93.25 4,722.10 6.57% 4.11%
87.5 4,535.53 -1.96% 2.40%
89.25 4,429.19 -0.83% 0.81%
90 4,393.64 -9.09% -0.99%
99 4,437.73 -1.98% 0.62%
101 4,410.48 0.75% 0.67%
100.25 4,380.95 -3.14% 5.70%
103.5 4,144.75 14.36% 22.52%
90.5 3,382.87 -13.60% -0.90%
104.75 3,413.53 -4.77% 1.46%
110 3,364.26 -8.71% 1.40%
120.5 3,317.93 -19.13% 1.02%
149 3,284.50 -3.72% 0.78%
154.75 3,259.04 -9.50% 4.35%
171 3,123.24 34.91% 2.11%
126.75 3,058.80 13.17% 3.95%
112 2,942.44 7.18% -1.44%
104.5 2,985.46 -0.48% 0.26%
105 2,977.72 -7.28% -1.66%
113.25 3,027.94 1.57% 0.88%
111.5 3,001.46 6.44% 1.55%
104.75 2,955.63 28.92% 1.41%
81.25 2,914.53 4.84% 1.69%
77.5 2,866.21 -0.32% -1.05%
77.75 2,896.49 -1.27% -2.89%
78.75 2,982.68 -3.37% -2.84%
81.5 3,069.71 -2.10% 6.18%
83.25 2,891.05 9.18% 2.97%
76.25 2,807.57 0.66% 2.19%
75.75 2,747.27 -0.98% 2.38%
76.5 2,683.48 -4.67% 3.66%
80.25 2,588.72 3.22% 1.40%
77.75 2,552.96 0.97% 1.84%
77 2,506.89 -2.22% 0.53%
78.75 2,493.59 6.06% -2.38%
74.25 2,554.36 -25.75% -1.63%
100 2,596.66 -9.09% 1.80%
110 2,550.74 0.46% 5.90%
109.5 2,408.67 -5.60% -0.82%
116 2,428.63 -3.33% -3.77%
120 2,523.78 -12.57% -3.77%
137.25 2,622.77 11.13% -1.14%
123.5 2,653.11
SS MS F Significance F
0.04 0.04 2.63 0.11
0.99 0.01
1.02

Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0%
0.01 -0.4 0.69 -0.03 0.02 -0.03
0.39 1.62 0.11 -0.14 1.41 -0.14

Actual Output

Beta 0.63
Return 0.24%
Annualized Return 0.03
Mkt. Return 1.27%
Annualised Mkt Return 0.15

Cost of Equity 0.12 Cost of Debt


Risk free retun 0.05 Risk free rate of return
market return 0.15 Risk premium
beta 0.63 Tax rate

WACC 0.08
Cost of Equity 0.12
Cost of Debt(1-T) 0.05
Weight of Equity 0.39
Weight of Debt 0.61
WACC
Upper 95.0%
0.02
1.41

0.08
0.05
0.03
0.28
7.83%
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Business risk analysis

Particulars 2004 2005 2006

Sales 1777722225 1369435429 1506857027

Operating Profit (EBIT) 39038430 47627037 58,340,211

Mean of Sales 1554399641.0 Mean of Operating Profit 50419084.4


STD of Sales 147516082.3 SD of Profit 7686249.8
C.V of Sales 0.095 C.V of Operating Profit 0.152
9.49% 15.24%

Degree of Operating Leverage 2004 2005 2006


Sales 1777722225 1369435429 1506857027
% change in Sales -22.97% 10.03%
Operating Profit 39038430 47627037 58,340,211
% change in EBIT 22.00% 22.49%
DOL -0.96 2.24

6.00
4.85
4.00

2.00 2.24

0.00
-0.96 Degree of Operating
Leverage
-2.00
Linear Regression for
Degree of Operating
Leverage
-4.00

-6.00 -5.84

-8.00
2004 2005 2006 2007
Financial Risk

Degree of Financial Leverage 2004 2005 2006


Operating Profit 357201880 292527908 296825657
Interest 226509814 217594814 224124751
DFL 2.73 3.90 4.08

6.00

4.00 3.90 4.08 4.05

2.73
2.00

Degree of Financial
0.00 Leverage
Linear Regression for
Degree of Financial
-2.00 Leverage

-4.00

-5.36
-6.00
2004 2005 2006 2007 2008

Financial Leverage Index 2004 2005 2006


ROE 0.09 0.05 0.05
ROA 0.04 0.02 0.02
FLI 2.30 2.10 2.09

3.00

2.50 2.54
2.30 2.27
2.10 2.09
2.00

1.50 Financial Leverage


Index
Linear Regression for
Financial Leverage
1.00 Index

0.50

0.00
2004 2005 2006 2007 2008
1.50 Financial Leverage
Index
Linear Regression for
Financial Leverage
1.00 Index

0.50

0.00
2004 2005 2006 2007 2008

2004 2005 2006


PAT 131119754 71495752 70009150
Total Assets 3362348231 3187404094 3170805901
Equity 1464984895 1516334280 1517343430
ROA 0.04 0.02 0.02
ROE 0.09 0.05 0.05
2007 2008

1540870413 1577113111

50654061 56435683

2007 2008
1540870413 1577113111
2.26% 2.35%
50654061 56435683
-13.17% 11.41%
-5.84 4.85

4.85

of Operating
e
egression for
of Operating
e

2007
2007 2008
325125818 242272147
244867621 287441096
4.05 -5.36

Degree of Financial
Leverage
Linear Regression for
Degree of Financial
Leverage

-5.36

2008

2007 2008
0.05 -0.03
0.02 -0.01
2.27 2.54

2.54

Financial Leverage
Index
Linear Regression for
Financial Leverage
Index

2008
Financial Leverage
Index
Linear Regression for
Financial Leverage
Index

2008

2007 2008
76609869 -44386614
3432827872 3581786270
1510486803 1408500189
0.02 -0.01
0.05 -0.03
Menu Menu

2004 Weight 2005 Weight 2006 Weight


Sreepur Textile Mills Limited 112628 0 3148968 0.03 93512 0

Apex Spinning Mills Limited 84000000 0.97 84000000 0.92 84000000 0.96

StyleCraft Limited 2427240 0.03 3673024 0.04 3505220 0.04

Weight Based on Assets 86539868 1 90821992 1 87598732 1

2004 2005 2006 2007 2008


Sreepur Textile Mills Limited 0 0.03 0 0 0
Apex Spinning Mills Limited 0.97 0.92 0.96 0.95 0.96
StyleCraft Limited 0.03 0.04 0.04 0.05 0.04

Cash Conversion Cycle


2004 2005 2006 2007 2008

Sreepur Textile Mills Limited 0.03 0.53 0.01 0.01 0.01


Apex Spinning Mills Limited 31.44 29.19 46.35 66.44 64.04
StyleCraft Limited 1.27 2.21 2.34 3.62 2.46

Industry Average
2004 2005 2006 2007 2008
Cash Conversion Cycle 32.74 31.93 48.7 70.07 66.51
2004 2005 2006 2007
Monno Febrics Ltd.
CCC 327.60 412.12 329.08 307.99
2007 Weight 2008 Weight Apex Spinning Mills Limited
79485 0 67562 0 CCC 32.39 31.56 48.34 69.81
Sreepur Textile Mills Limited
84,000,000 0.95 84000000 0.96 CCC 21.20 15.36 9.58 11.51
StyleCraft Limited
4191012 0.05 3398372 0.04 CCC 45.23 54.59 58.41 76.24

88,270,497 1 87465934 1

Menu

Menu

CCC of Monno Febrics Ltd.


2004 2005 2006 2007 2008
327.60 412.12 329.08 307.99 315.66
2008

315.66

66.69

9.61

63.19
Menu

Monno Febrics Ltd.


2004 2005 2006 2007 2008
Adjusted Accounts Receivable ### ### ### ### ###

Apex Spinning Mills Limited


2004 2005 2006 2007 2008
Adjusted Accounts Receivable 40316514.9 ### ### 66714162.96 74856311.23

Sreepur Textile Mills Limited


2004 2005 2006 2007 2008
Adjusted Accounts Receivable 0 0 0 0 0

StyleCraft Limited
2004 2005 2006 2007 2008
Adjusted Accounts Receivable 31318939.55 39008991.1 ### 73831263.4 52600214.54

Monno Febrics Ltd.


2004 2005 2006 2007 2008
Adjusted Value of Inventory ### ### ### ### ###

Apex Spinning Mills Limited


2004 2005 2006 2007 2008
Adjusted Value of Inventory 38788881.83 ### ### ### ###

Sreepur Textile Mills Limited


2004 2005 2006 2007 2008
Adjusted Value of Inventory ### ### ### #DIV/0! #DIV/0!

StyleCraft Limited
2004 2005 2006 2007 2008
Adjusted Value of Inventory 32278613.91 35392758.9 ### 57995080.09 84436522.49
1

2004 2005 2006 2007


(1/Accounts Receivable turnover) 0.373 0.446 0.335 0.317
(1-A.A/R) 0.627 0.554 0.665 0.683

2004 2005 2006 2007


(1/Accounts Receivable turnover) 0.11 0.08 0.1 0.13
(1-A.A/R) 0.373 0.446 0.335 0.317

2004 2005 2006 2007


(1/Accounts Receivable turnover) 0 0 0 0
(1-A.A/R) 0 0 0 0

2004 2005 2006 2007


(1/Accounts Receivable turnover) 0.07 0.08 0.08 0.13
(1-A.A/R) 0.93 0.92 0.92 0.87

2004 2005 2006 2007


(1/Inventory turnOver Ratio) 0.8 1 0.92 1.18
(((1/A.R.T.)-(1/I.TurnOver))) -0.432 -0.550 -0.585 -0.863

2004 2005 2006 2007


(1/Inventory turnOver Ratio) 0.05 0.07 0.07 0.16
(((1/A.R.T.)-(1/I.TurnOver))) 0.06 0.01 0.03 -0.03

2004 2005 2006 2007


(1/Inventory turnOver Ratio) 0.7 0.45 1.2 #DIV/0!
(((1/A.R.T.)-(1/I.TurnOver))) -0.7 -0.45 -1.2 #DIV/0!

2004 2005 2006 2007


(1/Inventory turnOver Ratio) 0.07 0.08 0.09 0.1
(((1/A.R.T.)-(1/I.TurnOver))) 0 0.01 -0.01 0.03
2008
0.356
0.644

2008
0.12
0.356

2008
0

2008
0.07
0.93

2008
1.24
-0.883

2008
0.14
-0.02

2008
#DIV/0!
#DIV/0!

2008
0.11
-0.04
Menu
2004 Weight 2005 Weight 2006
Sreepur Textile Mills Limited 571189814 0.52 548552243 0.45 517596975

Apex Spinning Mills Limited 329065698 0.3 375796393 0.31 360836516

StyleCraft Limited 193626536 0.18 281660018 0.23 311440448

Weight Based on Assets 1093882048 1 1206008654 1 1189873939

m p re he n siv
Co
Sreepur Textile Mills Limited
Apex Spinning Mills Limited
StyleCraft Limited
2004
0.52
0.3
0.18
2005
0.45
0.31
0.23
2006
0.44
0.3
0.26
2007
0.4
0.36
0.24
2008
0.38
0.36
0.27

Adjusted Accounts Receivable

2004 2005 2006 2007 2008


Sreepur Textile Mills Limited 0 0 0 0 0
Apex Spinning Mills Limited 12128165.14 ### 19436752.41 ### 26841177.46
StyleCraft Limited 5543721.82 ### 12589019.04 ### 13955967.19

Industry Average
2004 2005 2006 2007 2008
Adjusted Accounts Receivable 17671886.95 ### 32025771.46 41867718 40797144.66

Adjusted Value of Inventory


2004 2005 2006 2007 2008
Sreepur Textile Mills Limited 52663494.5 ### 49004841.39 #DIV/0! #DIV/0!
Apex Spinning Mills Limited 11668616.83 ### 37088883.49 ### 80583510.46
StyleCraft Limited 5713592.44 8265881.9 13822836.3 ### 22402823.8

Industry Average
2004 2005 2006 2007 2008
Adjusted Value of Inventory 70045703.77 ### 99916561.17 95390837.4 ###
Weight 2007 Weight 2008 Weight
0.44 497248470 0.4 472680904 0.38

0.3 450,637,433 0.36 450637433 0.36

d e
0.26 301027950 0.24 333446795 0.27

L iq u id i ty I
1 1,248,913,853
n 1 1256765132 1

en siv e
Menu
Index
Monno Febrics Ltd.
2004 2005 2006
NBL=(Cash+Marketable Securities-Notes payable)/Total Assets 0.01 0 0.01

Apex Spinning Mills Limited


2004 2005 2006
NBL=(Cash+Marketable Securities-Notes payable)/Total Assets 0.14 0.14 0.18

Sreepur Textile Mills Limited


2004 2005 2006
NBL=(Cash+Marketable Securities-Notes payable)/Total Assets 0 0 0

StyleCraft Limited
2004 2005 2006
NBL=(Cash+Marketable Securities-Notes payable)/Total Assets 0.12 0.06 0.07
rics Ltd.
2007 2008
0.01 0.01

g Mills Limited
2007 2008
0.25 0.25

e Mills Limited
2007 2008
0 0

2007 2008
0.01 0.02
2004 Weight 2005 Weight
Sreepur Textile Mills Limited 571189814 0.52 548552243 0.45

Apex Spinning Mills Limited 329065698 0.3 375796393 0.31

StyleCraft Limited 193626536 0.18 281660018 0.23

Weight Based on Assets 1093882048 1 1206008654 1

2004 2005 2006 2007


Sreepur Textile Mills Limited 0.52 0.45 0.44 0.4
Apex Spinning Mills Limited 0.3 0.31 0.3 0.36
StyleCraft Limited 0.18 0.23 0.26 0.24

2004 2005 2006 2007


Sreepur Textile Mills Limited 0 0 9.39074E-05 0
Apex Spinning Mills Limited 0.04 0.04 0.06 0.09
StyleCraft Limited 0.02 0.01 0.02 0

Industry Average
2004 2005 2006 2007
Net Liquidity Balance 0.06 0.06 7.30E-002 0.09
2006 Weight 2007 Weight 2008 Weight
517596975 0.44 497248470 0.4 472680904 0.38

360836516 0.3 450,637,433 0.36 450637433 0.36

311440448 0.26 301027950 0.24 333446795 0.27

1189873939 1 1,248,913,853 1 1256765132 1

2008 Menu
0.38
0.36
0.27

2008
0
0.09
0.01

Monno Febrics Ltd.


2008 2004 2005 2006 2007 2008
0.09 NLB 0.01 0 0.01 0.01 0.01
Menu
2004 Weight 2005
Sreepur Textile Mills Limited 571189814 0.52 548552243

Apex Spinning Mills Limited 329065698 0.3 375796393

StyleCraft Limited 193626536 0.18 281660018

Weight Based on Assets 1093882048 1 1206008654

2004 2005 2006


Sreepur Textile Mills Limited 0.52 0.45 0.44
Apex Spinning Mills Limited 0.3 0.31 0.3
StyleCraft Limited 0.18 0.23 0.26

Industry Average
2004 2005 2006
Sreepur Textile Mills Limited -1.7 -0.86 -5.66
Apex Spinning Mills Limited 0 0 0
StyleCraft Limited 0 0.02 0.01
-1.69 -0.84 -5.65
Percentage Employment Working Capital against Sales -169.44% -84.01% -565.07%

Monno Febrics Ltd.


2004 2005 2006
0.07 0.12 0.06
Percentage Employment Working Capital against Sales 7.44% 12.47% 5.54%
Weight 2006 Weight 2007 Weight 2008 Weight
0.45 517596975 0.44 497248470 0.4 472680904 0.38

0.31 360836516 0.3 450,637,433 0.36 450637433 0.36

0.23 311440448 0.26 301027950 0.24 333446795 0.27

1 1189873939 1 1,248,913,853 1 1256765132 1

2007 2008
0.4 0.38
0.36 0.36
0.24 0.27

2007 2008
#DIV/0! #DIV/0!
0.01 0.01
0.01 0.02
0.03 0.03
2.64% 3.02%

2007 2008
0.11 0.06
10.61% 6.43%
Du pont Analysis
2005 2006 2007
NI 112,385,306 71,495,752 70,009,150
ROE Equity 1,464,984,895 1,516,334,280 1,517,343,430

0.08 0.05 0.05


Du pont 0 0 0
ERROR ERROR ERROR

Profit Margin Total Assets Turnover Equity Multipler

Net Income Sales Total Assets


Sales X Total Assets X Common Equity =

654 1,777,722,225 3,362,348,231


2004 1,777,722,225 X 3,362,348,231 X 1,464,984,895 =

654,321 1,369,435,429 3,187,404,094


2005 1,369,435,429 X 3,187,404,094 X 1,516,334,280 =

98 2269933012 42522853993
2006 2,269,933,012 X 42,522,853,993 X 1,517,343,430 =

908 776761610 61535523726


2007 776,761,610 X 61,535,523,726 X 1,510,486,803 =

987 907903740 64147269693


2008 907,903,740 X 64,147,269,693 X 1,408,500,189 =
nalysis
2008 2009
62,143,373 (44,486,614)
1,510,486,803 1,408,500,189

0.04 -0.03
0 0
ERROR ERROR

ROE

Net Income
Common Equity

3.91E+021 0
8.76E+027

2.86E+024 0
6.62E+027

9.46E+021 0
1.46E+029

4.34E+022 0
7.22E+028

5.75E+022 0
8.20E+028

Menu Monno Febrics Ltd.


Balance sheet
As the december 31,2004,05,06,07,08
ASSETS
Non-current Assets
Propertay, plan and Equipment at cost Less Depreciation
Land and Land Development
Building and Other Construction
Plant, Machinery and Other Equipment
Office Equipment
Vehicles
Furniture and Fictures
Sundry Assets
Capital work in Process
Total Amount

Curent Assats
Inventories:
Raw Materials
Finished Goods
Store & Spares
Work-in-process
Materials-in-transit

Trade & other receivables


Advance, deposit & pre-payament:
Advances
Deposits
Pre-payment
Cash & cash equvelent:
Cash in Hand
Cash at Banks
TOTAL ASSETS
EQITY & LIABILITIES

Share Holders' Equity


Issued and paid-up share capital
Share Premium
Tax Holiday Resurve
Retained Earnings
Proposed Dividend

Non-Current Liabilities
Long Term Borrowing ( Secured)
Deferred Liability

Current Liabilities
Short Term Borriwings
Long Term Loans ( Current Position)
Trade & other Payables
Accured Expences
Unclaimed Dividend
Provision for Income Tax
Liabilities for Other Finance

TOTAL LIABILITIES AND SHARE HOLDERS' EQUITY

Monno Febrics Ltd.


Profit & Loss Accout
For the Year Ended December 31, 200

Particulars
Net Revenue
Cost of Goods Sold

Gross Profit

Operating Expenses
Administrative Expense
Selling and Distribution Expenses

Profit from Operations


Other Incomes
Finance Cost

Net Profit Before Contribution to WPPF


Contribution to WPPF & WFF

Net Profit Before Tax


Incone Tax Provision

Net Profit After Tax-Tranfered to statement of change in equit


Basic Earnings per share(per value TK.100)
Number of share used

Monno Febrics Ltd


Cash Flow Statement
For the Year Ended December 31, 200

Cash Flow From Operating Activities:


Cah Receipts from Customers and others
Cash Paid to Suppliers and Employees
Cash Generated from Operation
Interest paid
Income Tax deducted at sourrce
Cash Flow From Investing Activities:
Acquisition of Property,Plant & Equipment
Cash Realissed on Leasing of Machinery

Cash Flow From Finanicng Activities:


Decrease in Long Term Borrowings
Installment of IDCP
Interest on Ling Term Borrowings
Increase in Short Term Borrowings(Cash Credit)
Increase in Short Term Borrowings from Banks
Dividend Paid
Temporary Loan Refunded by MCIL
Increase in Long Term Borrowings
INCrease /( Decrease) in Cash and cash equivalents
Cash & Cash Equivalents at Beginning of Year
Cash & Cash Equivalents at End of Year
Febrics Ltd.
nce sheet
ember 31,2004,05,06,07,08,09

2004 2005 2006 2007 2008


2269886998 2147310185 2090188451 2044896725 1979035508
at cost Less Depreciation:
79456998 95316363 98280506 99632428 101032891
412512226 505905720 535298309 532612522 542396171
1684815585 1513265403 1439599561 1373021465 1318884225
6060233 7053836 7103462 7170302 7260763
475214 405772 290470 237376 190700
5040770 7053460 6782510 6661790 6110158
2818734 2718121 2506609 2338147 2119090
78707238 15591510 327024 23222695 1041510
2269886998 2147310185 2090188451 2044896725 1979035508

1092461233 1040093909 1080617450 1387931147 1602750762


327127392 308169660 430040243 661907131 804538224
77076645 57698502 95425039 158340600 199543569
83314919 71749754 102201836 142128918 184831803
19281660 21957678 53753516 62073278 80928269
137084478 134737776 146920276 264718241 338915850
10369690 22025950 31739576 34646094 318733

662697006 610485108 505004319 489131171 561736245


73140771 111751190 126722996 204301495 199881551
23419261 38674796 32421717 54517782 57112342
24663521 31230431 30968690 30942562 26620630
25057989 41845963 63332589 118841151 116148579
29496064 9687951 18849892 32591350 36594742
2699478 2584093 6389000 8441248 2405240
26796586 7103858 12460892 24150102 34189502
3362348231 3187404094 3170805901 3432827872 3581786270

1464984895 1516334280 1517343430 1510486803 1408500189


1150000000 1150000000 1150000000 1150000000 1150000000
370575835 370575835 370575835 370575835 370575835
78224531 0 0 -67589032 -112075646
-191315471 -73241555 -72232405 57500000 0
57500000 69000000 69000000 0 0

936831567 801676104 656296740 697928666 671920512


927082467 790264974 643340915 684972841 659011086
9749100 11411130 12955825 12955825 12909426

960131769 869393710 997165731 1224412403 1501365569


715085474 693929869 704311607 676007609 666806390
65227164 69769257 74729336 26271152 73038747
104958209 63250014 162320409 426298519 640929034
21671063 24068210 34068724 56288183 51693424
6718307 8561502 12147118 14623963 45483352
37471248 117615 117615 14584111 14684111
9000304 9697243 9470922 10338866 8730511

E HOLDERS' EQUITY 3361948231 3187404094 3170805901 3432827872 3581786270

Febrics Ltd.
Loss Accout
ar Ended December 31, 2004, 2005, 2006, 2007, 2008,2009
-288894955

31.12.2004 31.12.2005 31.12.2006 31.12.2007 31.12.2008


1777722225 1369435429 1506857027 1540870413 1577113111
1357707516 1044891748 1174820367 1175447344 1293232751

420014709 324543681 332036660 365423069 283880360

-62812829 -32015773 -35211003 -40297251 -41608213


-28925724 -16576098 -17080615 -23534991 -24951525
-33887105 -15439675 -18130388 -16762260 -16656688

357201880 292527908 296825657 325125818 242272147


427688 130900 808701 182165 782335
226509814 217594814 224124751 244867621 287441096

131119754 75063994 73509607 80440362 -44386614


0 -3568242 -3500457 -3830493 0

131119754 71495752 70009150 76609869 -44386614


18734448 0 0 14466496 100000

statement of change in equity


112385306 71495752 70009150 62143373 -44486614
9.23 6.22 6.09 5.4 -3.87
11500000 11500000 11500000 11500000 11500000

Febrics Ltd.
ow Statement
ar Ended December 31, 2004, 2005, 2006, 2007, 2008, 2009

2004 2005 2006 2007 2008


271919845 245558034 312708865 246762519 113574096
1818915767 1422097068 1613142352 1556925727 1505290372
1472924093 1109891541 1213775164 1218082661 1304700729
345991674 312205527 399367188 338843066 200589643
70683032 65372821 79581518 84071414 82332869
3388797 1274672 7076805 8009133 4682678
-51508778 27988391 -34262112 -42812356 -19230127
73609778 87179182 34322112 42812356 19230127
22101000 115167573 60000 0 0

-219157848 -293354538 -269284812 -190208705 -90340577


124169569 132675400 141963980 0 0
35626337 0 0 0 0
95229159 83866728 72288186 88555293 75304587
gs(Cash Credit) 59852293 19973781 53973538 10809670 7865422
gs from Banks 31053819 1181824 43591800 39113669 17066641
55038895 55656805 65414384 66523155 26640611
0 0 0 0 0
0 0 0 6826258 20805840
and cash equivalents 1253219 -19808113 9161941 13741458 4003392
nning of Year 28242845 29496064 9687951 18849892 32591350
29496064 9687951 18849892 32591350 36594742
76 987
65 65
53 53
23 23
123 123
1432 1432
Total 1772 2683

1432 1432
292 292
total 1724 1724

false false