Ratio analysis of Cement Industry of Bangladesh

8/10/2019 Ratio analysis of Cement Industry of Bangladesh

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1.0 INTRODUCTION

1.1 BACKGROUND OF THE STUDY:

This term paper has been made as a part of our course Managerial Finance

(FIN201). Our course instructor Ms. alma aharat!ho"dhur# assigned us to

de$elop a term paper based on ratio anal#sis of a corporation and anal#%e and

interpret the current financial situation of that corporation.

1.2 PURPOSE OF STUDY:

Through this term paper "e "ant to gain practical &no"ledge of the financial

aspects of a corporation through ratio anal#sis. The perspecti$e of such a report

is to ma&e us familiar "ith the financial instruments along "ith ratio anal#sis to

measure the financial situation of corporation.

1.3 SCOPE OF THE STUDY:

To accomplish the report "e ha$e been assigned to !ement Industr# "hich

includes 'afarge urma !ement 'td as the base compan# and for industr#

a$erage "e choose Meghna !ement !onfidence !ement and eidelberg

!ement. *e use annual reports of these corporations to find out the financial

situation of our base compan# through ration anal#sis comparing "ith the

industr# a$erage.

1.4 METHODOLOGY:

To ac+uire data for our report primaril# "e use the annual reports of 'afarge

urma !ement Meghna !ement !onfidence !ement and eidelberg !ement.

The annual reports that "e use as our source are gi$en belo",

'afarge urma !ement -nnual eport 200/ 200 200.

Meghna !ement -nnual eport 200.

!onfidence !ement -nnual eport 200.

eidelberg !ement -nnual eport 200.

*e ha$e also collected the necessar# and rele$ant data from different

secondar# sources. These sources are,

'arfargeurma !ement *ebsite (""".lafarge3bd.com)

Meghna !ement *ebsite (""".bg.com.bd)

!onfidence !ement *ebsite (confidencegroupbd.com4cement4inde5.html)

eidelberg !ement *ebsite (""".heidelbergcement.com)

1.5 LIMITATIONS OF STUDY:

Ratio Analysis of Lafarge Surma Cement Ltd. Page 1


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The limitations of the stud# are defined b# the e5tensi$e of the facts co$ered b#

the stud# and those that left out. o"e$er these limitations can be presented in

the follo"ing lines,

The first limitation is the lac& of intellectual thought and anal#tical abilit#

to ma&e it the most perfect one.

*e ha$e to offset "ith the +ualit# due to time constraint.

2.0 COMPANY OVERVIEW:

For our term paper "e ha$e chosen 'afarge urma !ement 'td as our base

compan# and for our industr# a$erage "e ha$e chosen Meghna !ement

!onfidence !ement and eidelberg !ement. The o$er$ie" of these companies

are gi$en belo",

2.1 LAFARGE SURMA CEMENT:

'afarge urma !ement 'td. ('!) "as incorporated on 11 No$ember 1/ as a

pri$ate limited compan# in 6angladesh under the !ompanies -ct 17 ha$ing its

registered office in 8ha&a. On 20 9anuar# 200: 'afarge urma !ement 'td. "as

made into a public limited compan#. The !ompan# is listed in 8ha&a and

!hittagong toc& ;5change. Toda# 'afarge urma !ement 'td. has more than11000 shareholders.

In No$ember 2000 the t"o


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(IF! ? The *orld 6an&


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and !hittagong toc& ;5change the t"o bourses of the countr# in 1B and

1@ respecti$el#. The !ompan# mar&ets its products under the registered trade

mar& GIN< 6-N8H. The manpo"er of Meghna !ement Mills 'td. is 720 persons

out of "hich there are 0 Officers and :70 staff4"or&ers.

The industr# enDo#s a uni+ue facilit# in cargo handling both in recei$ing ra"

materials and in dispatching finished product through its o"n 02 nos. of Detties

suitable for berthing sea going $essels. -t present the production capacit# of

M!M' is appro5.1.0 million MT4annum.

There are 7 nos. of grinding mill in M!M' ha$ing production capacit# of :000

MT4 da# and these mills are e+uipped "ith high efficienc# separator to segregate

fine particle from the coarse one. The dimension of each of the 02 (t"o) mills is:m diameter 5 m length (production capacit# :0 T>) "hile the each of the

rest 02 is :m diameter 5 11m length (production capacit# 70 T>).

To ensure the product +ualit# the ualit# -ssurance (.-.) department collects

samples from different areas of mill house e$er# after 1hrs. to e$aluate +ualit#

of the crushed product and thus feed bac& to the production department. 6ased

on the +ualit# report determined b# .- department >roduction department

acts accordingl#.

There are 7 nos. of cement silo for cement storing purpose in M!M' "here the

capacit# of each of the first 02 silo is :B00 MT "hile the capacit# of each of the

rest 02 is B000 MT. !ement is e5tracted from the cement silo through e5traction

s#stem "hich consists of roots blo"er inlet bo5 pneumatic shut off $al$e flo"

control $al$e etc. "hich are controlled from the control room of the pac& house.

There are 2 nos. of roto pac&er ha$ing pac&ing capacit# of 100 MT 4 r. and 110

MT 4 r. respecti$el#. These pac&ers are the e+uipments of modern technolog#

"here "eighing s#stem of the deli$ered cement sac& is full# electronic based toensure proper "eight of e$er# sac& of cement.

Mainl# paper made cement sac&s are preferred for filling purpose although small

percentage of pol# sac& are also used based on the consumersA demand. It ma#

be mentioned here that the paper sac&s are manufactured b# the ac& plant of

6


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se$eral nos. of dust collector ha$ing larger capacit# of modern deducting s#stem

to secure almost dust free "or&ing en$ironment.There e5ists 02 modes of

cement deli$er# s#stem i.e. road deli$er# and $essel deli$er# a$ailable in this

plant. To pre$ent bag bursting "hile loading in $essel one spiral chute has been

designed "ith the barge loader. To ensure smooth deli$er# of cement sac&s 1

nos. ten "heeler and 1@ nos. si5 "heeler compan# deli$er# truc&s are being

used.

There e5ists a modern e+uipped Dett# facilit# in this organi%ation "here the sea

going $essel can berth easil#. There e5ists 02 nos. of h#draulic crane of modern

technolog# of


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In 17 after commencement of production !!' "as able to ma&e t"o most

popular brands is cement in this countr#. No" 'ion brand is the brand leader in

all o$er the countr#. aDmistr# brand is popular leading brand in o"n territories

as "ell as other parts of the countr#. !!' manufactures Ordinar# >orland

!ement (O>!) in conformance "ith 6TI re+uirements. It is noted that !!'Js

cement specifications is much higher than the parameters specified b# 68

2:2,1: or meets the 612,1@ -TM !1B0,B t#pe31. To ensure best

+ualit# !!' maintains a uni+ue computeri%ed ra" material mi5ing process to get

the finest high +ualit# cement "ith compressi$e strength. The clin&er is

grained through close circuit ball mills "ith uniform blains "hich gi$es the

cement better spread. The uniform fineness of !!' cement helps in cutting do"n

construction costs as onl# small +uantities are re+uired to co$er large areas.

-part from the most modern technolog# the paper bags used b# !!' ha$e

additional features. The bags ends are pasted not stitched. >asted means all the

piles of paper are o$erlapped upon each other and glued. 8ue to this

pilferage4-dulteration in a pasted sac& is protected.

2.4 HEIDELBERG CEMENT:

eidelberg !ement 6angladesh 'td is one of the largest producers of +ualit#

cement in 6angladesh. eidelberg !ement is a member of eidelberg group


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mar&et. The !ompan# also produces other t#pes of cement namel# Ordinar#

>ortland !ement.

The compan# further increased the capacit# of its Ganchpur plant b# setting up

another grinding unit of 0.7B million tones per #ear that "as commissioned in

200. The compan# is also currentl# increasing the capacit# of its !hittagong

plant b# installing another grinding unit of 0./B million tones per #ear e5pected

to be commissioned b# end of 2011.

3.0 PRODUCTS AND SERVICES

3.1 LAFARGE SURMA CEMENT PRODUCT SERVICES:

'afarge cements are designed to respond to the re+uirements of all of the

ortland cements, high3+ualit# basic building materials that are both

efficient and $ersatile

2. !ements for different t#pes of en$ironments, products suitable for

e5posure to sea "ater sulfates and other aggressi$e en$ironments

:. pecial cements for specific applications, including "hite cements for

architectural proDects cements for "ell drilling operations cements

containing silica fume or fl# ash po%%olan cements and cements for road

surfacing that incorporate slag and h#draulic binders

7. !ements for masonr# and mortars for concrete bloc&s tiles rendering

stucco etc. These different cements can all be used to produce concretes

"ith a $ariet# of characteristics and properties.

5.S!"#$%&'( ) "!* +!"!,)-$" / !&!"-: S!"#$%& -!"+$)

!&!"-# *!,! )%"! $" F,)"! $" 200. T! ),! $""6)-$6! $" 3

7! ,!#8!-#:

!leaner and more comfortable to use their dust3free composition

ma&es it easier to obtain an e5cellent finish



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Mortar that is easier to handle and more "or&able concrete "hich

is more fluid and easier to spread. ensiumK re+uires less effort

during application and ma&es construction "or& easier

-ccelerated hardening and increased resistance results in a

substantial gain in producti$it# on building sites.

S%88,- )" )##$#-)"! L)/),+! //!,#:

1. Technical and logistical support for orders and deli$eries so customers

recei$e their cement at the right place and the right time

2. 8ocumentation demonstrations and training in the characteristics and

correct use of the


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C!&!"- 8,%! ),$"+ - -! BDS EN:can !ement and ub#

!ement are designed to achie$e the best characteristics for its customersL

this result is achie$ed b# design using clin&er and high +ualit# other

constituents. >!! has the optimum of, 8urabilit# 'ong3term strength and

"or&abilit#. can !ement and ub# !ement are produced according to the

;uropean norm.

L$&!;#-"! )" $&!;8,%-#: 'imestone aggregates limestone

sand pul$eri%ed limestone burnt limestone "hite pul$eri%ed

limestone and limestone h#drate.

S)";$&! !) pole

:. >aint

7.


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4.0 PERFORMANCE EVALUATION OF LAFARGE SURMA CEMENT LTDTHROUGH RATIO ANALYSIS:

4.1 CURRENT RATIO:

!urrent ratio indicates the e5tent to "hich current liabilities are co$ered b#

assets e5pected to be con$erted into cash in the near future. The current ratio of

three #ears of 'afarge urma !ement is gi$en belo",

200 200 200/ Industr# -$erage0.:15 0.:25 0.2@15 1.B5

T)


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lo". Thus compan# has poor amount of li+uidit# cash in hand. -ll this turns the

ratio 0.12/ in 200/.

In 200 the compan# has started impro$ing its asset management. Thus the

recei$ables also in increased but 8O is ta&ing a long time to pa#ing the credit

sale. -nd its li+uidit# of mone# is still lac&ed behind. -nd still the firm has to pa#

a huge current liabilities or debt interest. Thus its ratio has come in a slight

impro$ed "a# and it is 0.1/.

6ut in 200 the compan# has managed its debt interest b# managing its current

asset. 6ut as firm has paid huge amount of interest automaticall# the firm has

less li+uidit# of cash in hand. ThatAs "h# its ratio is decreased to 0.17/ times.

4.3 DAYS SALES OUTSTANDING 9DSO:

The ratio indicates that the a$erage length of time it ta&es the firm to collect its

credit sales. The 8O of three #ears of 'afarge urma !ement is gi$en belo",

200 200 200/ Industr# a$erage

1 da#s :/ da#s da#s 1 da#s

T)


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200/ firm has da#s outstanding customers pa#ing credit sales much earlier at

da#s comparing to industr# period.

6ut at 200 the customers are dela#ing the credit sales. Thus it ta&es :/ da#s

much than a$erage rate. -nd the last #ear

-t 200 it sho"s that the compan# managed to collect itAs credit sales in 1

da#s "hich is e+ual to the industr# a$erage.

4.4 INVENTORY TURNOVER:

Theratio is calculated b# di$iding cost of goods sold b# in$entories. The in$entor#

turno$er of three #ears of 'afarge urma !ement is gi$en belo",


:./75 :.75 2./5 B.025T)


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-nd lastl# in 200 the firm has met its financial obligations in a better "a#. -nd

used its in$entor# to generate a better sales. Thus the ratio is impro$ed to

:./7C. 6ut still less than industr# le$el cause there must be some problem lies

"ith the entire firmAs management of both financial current assets and debt

management. - great share of income is used for pa#ing the interest. o there is

automaticall# alteration in the income statement "here it is sho"n that the

contribution margin is still undersi%ed to co$er up the "hole fi5ed e5penses or it

be con$erted into in a smaller percentage "ith relation of earn a higher

profitabilit# margin.

4.5 FI>ED ASSET TURNOVER:

The ratio measures ho" efficientl# the firm uses its fi5ed assets to help to

generate sales. The fi5ed asset turno$er of three #ears of 'afarge urma !ement

is gi$en belo",

200 200 200/ Industr# -$erage

0.B15 0.715 .1B5 2.B5T)


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In 200 fi5ed asset ratio increased to 0.71 times that means the compan# has

been able to increase their sales and started to lo"er their in$estment in fi5ed

assets. 6ut the score is not good enough because it is less than one times.

In 200 fi5ed assets turno$er is 0.B1 times "hich indicates that it is graduall#

increasing their sales b# using their fi5ed assets properl#. 6ut the# are not using

their fi5ed assets li&e the other firms of the industr#. The industr# a$erage of

fi5ed asset turno$er is 2.B times "hereas the fi5ed assets turno$er for 'afarge

urma !ement is onl# 0.B1 times "hich indicates that the# are not efficient to

utili%e their fi5ed assets li&e the other firms in the industr#.

4.? TOTAL ASSETS TURNOVER:

The ratio measures the turno$er of all the firm assets. The total asset turno$er

of three #ears of 'afarge urma !ement is gi$en belo",


0.775 0.:B5 0.1:B5 2.@25T)


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In 200 total asset turno$er has increased from 0.:B to 0.77 times b#

increasing their sales but still it is belo" the industr# a$erage. The reason of lo"

total asset turno$er is a problem "ith the asset categories composing total

assets 3 in$entor# recei$ables or fi5ed assets. There is a problem "ith

in$entor#. The firm is holding obsolete in$entor# and not selling in$entor# fast

enough. *ith regard to accounts recei$able the firmJs collection period is

fluctuating and credit accounts ma# be on the boo&s too long. Fi5ed assets such

as plant and e+uipment could be sitting idle instead of being used to their full

capacit#. There is also li+uidation problem of current assets. -ll of these issues

lo"er the total asset turno$er ratio of 'afarge urma !ement.

4. DEBT RATIO:

The ratio measures the percentage of funds pro$ided b# creditors. The debt ratio

of three #ears of 'afarge urma !ement is gi$en belo",


/7C 0./C 1.@C 7BC

T)


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current asset management. Thus it sho"s that there is a ban&ruptc# position in

200/.

6ut graduall# in 200 it has started to use itAs current assets a better "a# than

200/. -nd also successes in rising the#Are income or sales or both. Thus in

200 the debt ratio has come 0./C.

-nd at 200 it has increased itAs sales or income and usage of assets

management at a healthier position than pre$ious #ears. -nd it becomes /7C

"hich sho"s a decreasing rate of using debt finance.

4.@ TIMES INTEREST EARNED:

It measures the abilit# of the firm to meets its annual interest pa#ments. The

TI; of 'afarge urma !ement for three #ears is gi$en belo",


/./5 1.75 30.:5 10.0:5

T)


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6ut in 200 compan# has started pa#ing its debt interest and sales "as raising

or net income "as rising. Thus usage of assets both current and fi5ed "as

increased in 200. o the change is ta&en place in 200 and the TI; has come

1.7C.

-nd in 200 the firm has earned a greater operating profit due to increase in

sales and it helps to co$er the fi5ed operating cost. -nd also the debt ratio has

reduced to /7C. -s the operating profit has increased thus it results an

impro$ed percentage in TI; and this is 2.@C. 6ut still lac&ing behind the

industr# le$el cause ma# be the# used a huge amount of debt and the

management does not properl# finance the management of operation. -nd there

is insufficienc# of li+uid cash. !ertainl# firm has a great difficult# dealing "ith

this under3poor situation. o the firm has lac& behind.

4. RETURN ON ASSET 9ROA:

The ratio of net income to total assetsit pro$ides an idea of the o$erall return on

in$estment earned b# the firm. The O- of 'afarge urma !ement for three

#ears is gi$en belo",


B./BC 1C [email protected] .1BC

T)


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In 200/ O- is [email protected] it indicates that the# ha$e incurred loss in 200/ and the

reason is using of huge debt and poor asset management to generate sales.

In 200 the increase to 1C because the# ha$e use lot of debt "hich is almost

0C and the current assets ha$e been used for the problem of huge debt for

that their sales gone do"n and net income decline.

In 200 the O- has again increased to B./BC because the# ha$e lo"ered their

debt and paid up some debt and sales and net income also increased but that is

still belo" the industr# a$erage. The reason is that the firm is not using their

assets efficientl# to increase the re$enue of the firm. The# ha$e li+uidation

problem of current assets and also using huge debt abo$e the a$erage le$el of

industr# a$erage.

4.10 RETURN ON E=UITY 9ROE:

The ratio of net income to common e+uit# it measures the rate of return on

common stoc&holdersA in$estment. The O; of 'afarge urma !ement of three

#ears is gi$en belo",


22.7C B.1BC 3::.@C 1/.0BC

T)


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In 200/ O; for 'afarge urma !ement is 3::.@C. O; is negati$e because

firm is using 1.@C debt "hich is $er# higher the# are using more debt for their

in$estment rather than common e+uit# and for using more debt and poor asset

management the# ha$e incurred loss as a result there is no earning a$ailable for

common stoc&holders in 200/.

In 200 O; increased to B.1BC. It indicates that for each dollar of common

e+uit# there is a return of t&. 0.0B1B. The# ha$e profit in this #ear because the#

ha$e impro$ed their asset management and Dust able to ma&e a profit though

the# ha$e huge debt.

In 200 O; increased to 22.7C and it is abo$e industr# a$erage. It indicates

that the# are able to use the common e+uit# efficientl# than the other firms.

The# ha$e paid up some.>rofit goes up as a result O; also goes up.

4.11 NET PROFIT MARGIN ON SALES:

This ratio measures net income per dollar of sales. The net profit margin on

sales of 'afarge urma !ement for three #ears is gi$en belo",


1:.1C 2.7C 37B.@C .::C

F$+%,!;11

In industr# a$erage it is .::C. Thus at 200/ the compan# has huge gap in

managing their operational obligations and asset management. The usage ofdebt is also high. For large amount of debt it has to pa# a large interest

Ratio Analysis of Lafarge Surma Cement Ltd. Page 2!


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pa#ment. Thus compan#As ;6IT is also lo". -nd all these caused a negati$e or

loss in profit margin on sale and it is ?7B.@C.

6ut as it has mentioned that compan# graduall# starts using its current assets

in$entor# or fi5ed assets a good "a# it caused the profit margin to increased b#

2.7C.

-nd at the end #ear at 200 it has come 1:.1C. That indicates the compan# is

increasingl# boosted its current asset management as "ell as its operational

functions. Thus manage its in$entor# to generate the sales largel#. Thus ;6IT

also increased. o it has crossed the industr# le$el a$erage.

4.12 PRICEEARNINGS RATIO:

The ratio of the price per share to earnings per share. It sho"s the amount

in$estors "ill pa# for each dollar of current earnings. The >4; ratio of 'afarge

urma !ement is gi$en belo" for three #ears.


2.7@5 1@./B5 N4- /1.125T)4; ratio. Thus it

cannot be determinened.

6ut in 200 the compan# ma# gain fa$orable earnings that can satisf# the

shareholders "ealth. Thus demands on in$esting the shares on 'afarge !ompan#



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ha$e 1@./B "hich is greater than the industr# a$erage le$el. It sho"s that

compan# ma# ha$e a potential high gro"th that fascinated the in$estorAs mind

for in$est mone# at this point. For e$er# dollar of earnings in$estors are li&e to

pa# 1@./BC.

In 200 the compan# has paid a huge amount of debt as interest. -nd it

decreases the amount of profit or income though the sales are high in 200. It

reduced the income of shareholders or ma# be for unfa$orable circumstance in

econom# or mar&et condition. o the >4; ratio has decreased to 2.7@C less

than industr# le$el.

4.13 MARKETBOOK RATIO:

The ratio of a stoc&As mar&et price to its boo& $alue. It indicates that ho" the

in$estors regard the compan#. The M46 ratio of 'afarge urma !ement is gi$en

belo" for three #ears.


@.@25 .@5 N4- 7.@5

T)


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"ere more e5cited about the future prospects of the common stoc& as an

in$estment than in 200. The reason fluctuating ma# be people ma# feel that

the firm has poor asset management and li+uidit# problems.

5.0 FINDINGS AND RECOMMENDATIONS:

F$"$"+#:

I. -sset management is e5tremel# in a poor condition. The "a# of using it is

not that much effecti$e.

II. In$entor# is utili%ed in a good "a# in recent #ears. 6ut it is not applicable

because of poor asset management.

III. Thus compan# is using the debt to finance the compan#As "or&load in a

large amount. It can be more dangerous for ban&ruptc#.

I. The 8O is also $er# fluctuating o$er time. It couldnAt fi5 its time of credit

period.

". The price earnings ratio is fluctuated b# ha$ing a great difference in

compan# in$estment. The compan# ma# loss the financial in$estment due

to ha$ing fluctuating earnings.

R!&&!")-$"#:

I. !ompan# should manage its both current asset management and financial

obligations efficientl#.

II. The percentage of debt ratio must be lo"ered for sa$ing the compan#

from the ris& of ban&ruptc#.

III. -nd the# should be stricter in recei$ing their credit sales.

I. Firm ma# tr# to boost its position "here it can automaticall# attracted

more in$estors for further e5pansion.

.0 CONCLUSION:



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From the abo$e content "e can conclude that in li+uidit# ratios 'afarge urma

!ement 'td are belo" industr# a$erage and the $alues are far a"a# from the

industr# a$erage. o the# definitel# ha$e li+uidit# problem. In asset

management 'afargeAs position is not good. The# are lagging behind from the

other companies in this industr#. Their in$entor# turno$er fi5ed asset turno$er

and total asset turno$er are impro$ing e$er# #ear but good enough. There 8O

is Dust as the industr# a$erage but it is fluctuating e$er# #ear. o the# ha$e poor

asset management. The# are inefficient in managing current and fi5ed assets.

The# are using a huge debt "hich is a great ris& of ban&ruptc# to the compan#.

Their debt ratio is higher than the industr# a$erage. Times interest earned is

belo" the industr# a$erage but it is impro$ing each #ear. In profitabilit# ratios

O- is belo" industr# a$erage but O; and profit margin is abo$e industr#

"hich means the# are tr#ing to impro$e their asset management and li+uidit#

position. In mar&et ratios "e can see that the# ha$e a good position in 200 but

in 200 it declined though the ratios are abo$e industr# a$erage. That means

people are becoming less interested to the compan# than the pre$ious #ear. o

to impro$e from the current situation the# need to impro$e their asset

management li+uidit# position and use lo" debt and must be strict in recei$ingcredit sales and finall# tr# to attract the customers through e5pansion of firm.



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APPENDI>

CURRENT RATIO



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200:

!urrent atio

0.2@15

200@:

!urrent atio

0.:25

200:

!urrent atio

0.:15



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=%$7 R)-$

200:

uic& atio

0.12/5

200@:

uic& atio

0.1/5

200:

uic& atio



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0.17/5

I"6!"-, T%,"6!,

200:

In$entor# Turno$er atio

2.//5

200@:




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:.75

200:


:./75

D)# S)!# O%-#-)"$"+ 9DSO

200:

8O

.7 8a#s

200@:



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8O

:/ 8a#s

200:

8O

1 8a#s

F$! A##!- T%,"6!,

200:

Fi5ed -sset Turno$er



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0.175

200@:


0.70/5

200:


0.B0@5

T-) A##!- T%,"6!,



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200:

Total -sset Turno$er

0.1:B5

200@:


0.:B5

200:


0.7:@5



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D!


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0./7

/7C

T$&!# I"-!,!#- E),"! 9TIE

200:

TI;

30.:5

200@:

TI;

1.75



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200:

TI;

2.@5

R!-%," " A##!-# 9ROA

200:

O-

3.0@1

[email protected]

200@:



36/56

O-

0.01

1C

200:

O-

0.0B/B

B./BC

R!-%," " E%$- 9ROE

200:

O;



37/56

30.::@

3::.@C

200@:

O;

0.0B1B

B.1BC

200:

O;

0.227

22.7C

N!- P,/$- M),+$" " S)!#

200:



38/56

Net >rofit Margin on ales

30.7B@

37B.@C

200@:


0.027

2.7C

200:


1:.1C



39/56

P,$! E),"$"+# R)-$ 9PE

200:

>rice ;arnings atio

N4-

200@:

>rice ;arnings atio

1@./B5

200:

>rice ;arnings atio



40/56

2.7@5

M),7!-B7 9MB R)-$

200:

Mar&et46oo& atio

N4-

200@:

Mar&et46oo& atio

.@B5

200:



41/56

Mar&et46oo& atio

@.@25

INDUSTRY AVERAGE OF THE RATIOS

CURRENT RATIO

M!+") C!&!"-:

!urrent atio

1.25

H!$!


42/56

C"/$!"! C!&!"-:

!urrent atio

1.725

I"%#-, A6!,)+! 1.B5

=%$7 R)-$

M!+") C!&!"-:

uic& atio

0./B5

H!$!


43/56

1.B25

C"/$!"! C!&!"-:

uic& atio

0.:5

I"%#-, A6!,)+! 1.0B5

I"6!"-, T%,"6!,

M!+") C!&!"-:




44/56

B.05

H!$!


:.@@5

I"%#-, A6!,)+! B.025

D)# S)!# O%-#-)"$"+ 9DSO

M!+") C!&!"-:



45/56

8O

22 8a#s

H!$!

8O

B 8a#s

I"%#-, A6!,)+! 1 8a#s



46/56

F$! A##!- T%,"6!,

M!+") C!&!"-:


7.25

H!$!


0./2:5

I"%#-, A6!,)+! 2.B5



47/56

T-) A##!- T%,"6!,

M!+") C!&!"-:


1.7:5

H!$!




48/56

0.B25

I"%#-, A6!,)+! 2.@25

D!


49/56

C"/$!"! C!&!"-:

8ebt atio

0.1B

1.BC

I"%#-, A6!,)+! 7BC

T$&!# I"-!,!#- E),"! 9TIE

M!+") C!&!"-:

TI;

1./5

H!$!


50/56

TI;

/./5

C"/$!"! C!&!"-:

TI;

20.715

I"%#-, A6!,)+! 10.0:5

R!-%," " A##!-# 9ROA

M!+") C!&!"-:

O-



51/56

0.071

7.1C

H!$!

O-

@.1/C

I"%#-, A6!,)+! .1BC

R!-%," " E%$- 9ROE



52/56

M!+") C!&!"-:

O;

0.211

21.1C

H!$!

O;

0.0/:

/.:C

I"%#-, A6!,)+! 1/.0BC



53/56

N!- P,/$- M),+$" " S)!#

M!+") C!&!"-:


2.1C

H!$!


11.C



54/56

I"%#-, A6!,)+! .7C

P,$! E),"$"+# R)-$ 9PE

M!+") C!&!"-:

>rice ;arnings atio

1/7.@@5

H!$!

>rice ;arnings atio



55/56

1.75

I"%#-, A6!,)+! /1.125

M),7!-B7 R)-$ 9MB

M!+") C!&!"-:

Mar&et46oo& atio

10.@25

H!$!


56/56

2.015

C"/$!"! C!&!"-:

Mar&et46oo& atio

1.75

I"%#-, A6!,)+! 7.@5

Documents

Ratio analysis of Cement Industry of Bangladesh