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Name of company : XYZ Ltd Company

Business Manufacturing Denim Jeans


1 CAPEX Depriciation
Factory 5,000,000 0
Machines 1,000,000 20%

2 Capital
shares
Equity 2,500,000 250000
Bank long term Loans 3,500,000 9.0%

3 PRODUCT Selling price 2008 2009 2010


JEANS 2300 2300 2300
4 COSTS
Material per pair of jean 2008 2009 2010
Denim 1.5 mtr 1,000 1000 1000
Threads and buttons 150 1,150 150 1150 150
Labour 250 250 250
Total 1400 1400 1400
5 2008 2009 2010

Material 1 month 115,000 126,500 138,000


Finished goods 1 month 140,000 154,000 168,000
Inventory 255,000 280,500 306,000
Debtors 2 month 460,000 506,000 552,000
Total Current asseta 715,000 786,500 858,000
Creditors 1.5 month 172,500 189,750 207,000

Working Capital 542,500 596,750 651,000


increase 542,500 54,250 54,250

6 TAX 30%

7 2008 2009 2010


Per month 100 110 120
per annum 1200 1320 1440
1400 1540 1680
1300 1430 1560

Rs
8 Dividends 0 2.2 2.75
10 10
1150 20 20
Inventory 23000 23000
Labour 2500 2500
25500 25500

147000 161000
h 2008 2009 2010

Sales Rs. 2,760,000 Rs. 3,036,000 Rs. 3,312,000


Cost of sales Rs. 1,680,000 Rs. 1,848,000 Rs. 2,016,000
Gross profit Rs. 1,080,000 Rs. 1,188,000 Rs. 1,296,000
GP RATIO 39.13% 39.13% 39.13%
Expenses Rs. 50,000 Rs. 55,000 Rs. 60,500
Depriciation 200000 200000 200000
EBIT Rs. 830,000 Rs. 933,000 Rs. 1,035,500
OPM 30.07% 30.73% 31.27%
Interest 315000 315000 315000
EBT Rs. 515,000 Rs. 618,000 Rs. 720,500
Tax 154500 185400 216150
PAT 360500 432600 504350
NPM 13.06% 14.25% 15.23%
Dividends 550000 687500
Retained earning Rs. 360,500 Rs. 243,100 Rs. 59,950

Profitability ratios
ROCE 13.05% 14.94% 17.09%
RONW 12.6% 15.8% 19.7%
EPS 1.44 1.73 2.02

Turnover ratios

Asset turnover ratio 0.42 0.47 0.53


Stock turnover 12.57 12.52
Inventory period 29.0 29.1
Debtors turnover 6 6 6
Collection period 60.8 60.8 60.8
`
h BALANCE SHEET

2008 2009 2010


Share Capital 2,500,000 2,500,000 2,500,000 Factory L & B
Retained earning 360,500 243,100 59,950 Machines
Bank Loans 3,500,000 3,500,000 3,500,000 Investments

Inventory
Creditors 172,500 189,750 207,000 Debtors
Cash

Total liabilities 6,533,000 6,432,850 6,266,950 Total ssaets

liquitdity ratios
Current Ratio 4.25 4.39 4.19
Quick ratio 2.8 2.9 2.7

Gearing ratios
Debt Equity ratio 1.22 1.28 1.37
Equity ratio 0.45 0.44 0.42
Debt to total capital r 0.55 0.56 0.58
Interest coverage ratio 2.63 2.96 3.29
2008 2009 2010
tory L & B 5,000,000 5,000,000 5,000,000
800,000 600,000 400,000
estments

255,000 280,500 306,000


460,000 506,000 552,000
18,000 46,350 8,950

6,533,000 6,432,850 6,266,950

CA 733,000 832,850 866,950


CL 172,500 189,750 207,000
QA 478,000 552,350 560,950
Working capital 560,500 643,100 659,950

Equity 2,500,000 2,500,000 2,500,000


Retained earning 360,500 243,100 59,950
Total 2,860,500 2,743,100 2,559,950
Bank loans 3,500,000 3,500,000 3,500,000
Capital employed 6,360,500 6,243,100 6,059,950
CASH FLOW STATEMENT
2008 2009

PAT 360500 432600


Depreciation 200000 200000
working capital increase 542,500 54,250
Fixed capital increase 0 0
Free cash flow for equity 18,000 578,350
Dividends 550,000
Opening cash balnce 0 18,000
closing cash balance 18,000 46,350
2010

504350
200000
54,250
0
650,100
687,500
46,350
8,950
2008 2009 2010

INFLOWS
Cash Balance 0 18,000 46,350
Debtors realisati 2,300,000 2,990,000 3,266,000

IN flows 2,300,000 3,008,000 3,312,350

OUT FLOWS
Creditors 1,437,500 1,523,750 1,661,750
Labour 325,000 332,500 362,500
Office expenses Rs. 50,000 Rs. 55,000 Rs. 60,500
Interest
Long term loan 315000 315000 315000
dividend 550000 687500
Tax 154500 185400 216150

OUT FLOWS 2,282,000 2,961,650 3,303,400

Cash Bal 18,000 46,350 8,950


Trade creditors
opening balance 0 172,500 189750
Purchases 1610000 1541000 1679000
payments 1437500 1523750 1661750
Closing Balance 172500 189,750 207,000

Debtors
opening balannce 0 460,000 506,000
sales 2760000 3,036,000 3312000
received 2,300,000 2,990,000 3,266,000
Closing bal 460,000 506,000 552,000
XYZ company started business of manufacturing denim Jeans on ist april 2008 , the financial statements along with certain re

Profitability ratios
Gearing ratios
Turnover ratios
liquitdity ratios

Interpret the ratios and give your comments

Recompute the ratios on following changed assumptions


2008 2009 2010
Dividends 1 1.5
Loans interest 8.5% 8.5% 8.5%
Labour charges 250 275 300
Finished good inventory 1/2 month1/2 month1/2 month
Material inventory 1/2 month1/2 month1/2 month
nts along with certain relevent data is given . You are reqquired to calculate following ratios

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