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ent
In co me Statem 2005 2006 2007
ed
Sumariz Rs. In'000 Rs. In'000 Rs. In'000
Sales Net
Gross Sales 6,193,443 7,954,901 5,514,208
Less:
Excise Duty 1,020,618 1,128,106 1,024,041
Sale Tax 807,589 1,036,977 705,845
Commision 74,502 80,026 73,241
Sales Net 4,290,734 5,709,792 3,711,081
Cost of Sales
Raw materials consumed 130,228 166,157 139,472
Packging materials used 244,149 263,011 265,566
Fuel and Power 1,840,927 2,195,762 1,795,408
Stores and spares consumed 225,830 239,285 239,930
Salaries, wages and amenities 163,759 200,459 170,540
Rent,Rates and taxes 7,815 3,202 4,435
Insurance 13,950 12,965 16,284
Repair and maintenance 19,758 41,019 28,582
Depreciation 338,223 359,987 418,032
Other expenses 72,726 73,180 92,499
Opening W.I.P 43,840 128,288 130,426
Transfer from trial run operations - 11,842 198,618
Closing W.I.P (128,288) (130,426) (90,848)
Cost of goods manufactured 2,972,917 3,564,731 3,408,944
Opening stock of Finished goods 15,755 25,870 36,498
Transfer from trial run operations - 7,109 26,313
Closing stock of Finished goods (25,870) (36,498) (70,567)
Cost of Goods Sold 2,962,802 3,561,212 3,401,188
Gross Profit 1,327,932 2,148,580 309,893
Distributing Expenses 40,287 20,961 69,021
Administrative Expenses 12,973 60,474 67,291
Other operating Espenses 59,714 118,024 18,371
Operating Profit 1,214,958 1,949,121 155,210
Other Income 18,097 26,671 43,224
Profit before Income and Tax 1,233,055 1,975,792 198,434
Finance cost 205,677 340,978 338,453
(loss)/Profit before Taxation 1,027,378 1,634,814 (140,019)
Taxation
Current (38,880) 28,536 (9,477)
Deffered 338,808 547,038 (172,589)
Total Taxation 299,928 575,574 (182,066)
Profit after Taxation 727,450 1,059,240 42,047
ment Factory Ltd.
ome Statement
2008 2009
Rs. In'000 Rs. In'000
10,552,398 18,969,598
1,564,801 1,901,663
1,061,681 1,708,158
110,087 108,403
7,815,829 15,251,374
259,492 465,107
662,674 1,042,435
3,580,340 6,948,392
381,364 468,022
238,114 301,549
8,380 14,382
29,564 38,180
45,248 45,453
848,098 1,042,618
98,224 148,943
90,848 215,740
331,228 -
(215,740) (368,576)
6,357,834 10,362,245
70,567 123,032
186,630 -
(123,032) (188,412)
6,491,999 10,296,865
1,323,830 4,954,509
834,849 2,339,833
121,236 151,584
24,838 42,251
342,907 2,420,841
105,656 61,749
448,563 2,482,590
1,812,807 3,400,241
(1,364,244) (917,651)
44,815 64,321
-732,924 998
-688,109 65,319
(676,135) (982,970)
Maple Leaf Cement Factory Ltd.
Non-Current Assets
Intangible assets - - 4,578
Loans to employees - 7,127 6,373
Deposits and prepayments - 15,923 43,200
Investment 14,566 368,881 -
Property ,plant and equipment 8,462,382 16,088,505 19,330,866
Deffered Taxation
Long terms loans to employees 5,824 - -
Long terms deposits and Prepayments 6,142 - -
Total Non-Current Assets 8,488,914 16,480,436 19,385,017
Non-Current Libilities
Loans from related parties - 250,000
Long term loans and financies 2,157,706 7,868,948 8,576,657
Redeemable capital 41,650 - -
Syndicated term finances - - -
Liabilities against assets subject to finance lease - 12,226 268,040
Lease finance advances and accrued interest thereon - 74,146 679,676
Long term deposits 6,572 2,977 2,702
Deferred taxation 328,571 971,128 897,183
Employees' compensated absences 8,513 10,250 13,192
Total Non-Current Libilities 2,543,012 8939675 10,687,450
Total Equities and Liablities 10,428,973 19,144,898 23,436,974
nt Factory Ltd.
e Sheet(Rs. In 000)
2008 2009
104,134 99,932
44,907 162,058
21,780 29,448
9,768 8,184
57,769 16,797
763 983
69,292 143,306
734,859 406,563
82,814 78,254
365,748 -
743,366 682,244
3,325,744 2,936,194
13,926 23,312
81,254 70,614
215,740 368,576
123,032 188,412
5,994,896 5,214,877
15,082 7,332
6,121 5,666
54,014 51,485
- -
20,081,448 20,381,478
- -
- -
20,156,665 20,445,961
26,151,561 25,660,838
5,000,000 7,000,000
4,264,108 4,264,108
4,644,355 4,127,277
-547,574 -1,673,584
8,360,889 6,717,801
431,718 572,423
1,505,980 837,321
458 10,657
213,192 211,556
110,513 137,553
33,193 33,153
22,962 10,376
- -
7,136 11,345
- -
1,565 2,718
2,726 2,775
- 71,512
157,404 442,106
8,712 9,532
1,594 1,533
52,994 53,310
194,568 441,194
3,369,738 4,382,322
- 128,889
- 800,000
1,080,000 1,500,000
188,011 302,609
- -
7,382,464 9,962,884
35,224 -
241,539 826,614
8,000,000 7,200,000
1,000,000 -
- -
957,434 862,214
2,582 2,580
154,741 69,755
16,688 18,990
10,408,208 8,980,153
26,151,561 25,660,838
Maple Leaf Cement Factory Ltd.
Sumarized Income Statement
ent
In co me Statem 2005 2006 2007
ed
Sumariz Rs. In'000 Rs. In'000 Rs. In'000
Sales Net
Gross Sales 6,193,443 7,954,901 5,514,208
Less:
Excise Duty 1,020,618 1,128,106 1,024,041
Sale Tax 807,589 1,036,977 705,845
Commision 74,502 80,026 73,241
Sales Net 4,290,734 5,709,792 3,711,081
Cost of Sales
Raw materials consumed 130,228 166,157 139,472
Packging materials used 244,149 263,011 265,566
Fuel and Power 1,840,927 2,195,762 1,795,408
Stores and spares consumed 225,830 239,285 239,930
Salaries, wages and amenities 163,759 200,459 170,540
Rent,Rates and taxes 7,815 3,202 4,435
Insurance 13,950 12,965 16,284
Repair and maintenance 19,758 41,019 28,582
Depreciation 338,223 359,987 418,032
Other expenses 72,726 73,180 92,499
Opening W.I.P 43,840 128,288 130,426
Transfer from trial run operations - 11,842 198,618
Closing W.I.P (128,288) (130,426) (90,848)
Cost of goods manufactured 2,972,917 3,564,731 3,408,944
Opening stock of Finished goods 15,755 25,870 36,498
Transfer from trial run operations - 7,109 26,313
Closing stock of Finished goods (25,870) (36,498) (70,567)
Cost of Goods Sold 2,962,802 3,561,212 3,401,188
Gross Profit 1,327,932 2,148,580 309,893
Distributing Expenses 40,287 20,961 69,021
Administrative Expenses 12,973 60,474 67,291
Other operating Espenses 59,714 118,024 18,371
Operating Profit 1,214,958 1,949,121 155,210
Other Income 18,097 26,671 43,224
Profit before Income and Tax 1,233,055 1,975,792 198,434
Finance cost 205,677 340,978 338,453
(loss)/Profit before Taxation 1,027,378 1,634,814 (140,019)
Taxation
Current (38,880) 28,536 (9,477)
Deffered 338,808 547,038 (172,589)
Total Taxation 299,928 575,574 (182,066)
Profit after Taxation 727,450 1,059,240 42,047
ment Factory Ltd.
ome Statement Horizontal Analysis ( Percentage Method)
Non-Current Assets
Intangible assets - - 4,578
Loans to employees - 7,127 6,373
Deposits and prepayments - 15,923 43,200
Investment 14,566 368,881 -
Property ,plant and equipment 8,462,382 16,088,505 19,330,866
Deffered Taxation
Long terms loans to employees 5,824 - -
Long terms deposits and Prepayments 6,142 - -
Total Non-Current Assets 8,488,914 16,480,436 19,385,017
Non-Current Libilities
Loans from related parties - - 250,000
Long term loans and financies 2,157,706 7,868,948 8,576,657
Redeemable capital 41,650 - -
Syndicated term finances - - -
Liabilities against assets subject to finance lease - 12,226 268,040
Lease finance advances and accrued interest thereon - 74,146 679,676
Long term deposits 6,572 2,977 2,702
Deferred taxation 328,571 971,128 897,183
Employees' compensated absences 8,513 10,250 13,192
Total Non-Current Libilities 2,543,012 8939675 10,687,450
Total Equities and Liablities 10,428,973 19,144,898 23,436,974
nt Factory Ltd. Horizontal Analysis (Percentage Method)
e Sheet(Rs. In 000)
5,000,000 7,000,000
4,264,108 4,264,108 8.33% 21.15% -
4,644,355 4,127,277 34.06% 45.50% 4.20%
izontal Analysis
-547,574 -1,673,584 28.58% -72.07% -301.61%
8,360,889 6,717,801 20.11% 19.02% -7.03%
35,224 - - - -85.91%
241,539 826,614 264.69% 8.99% -97.18%
8,000,000 7,200,000 - - -
1,000,000 - - - -
- - - 2092.38% -100.00%
957,434 862,214 - 816.67% 40.87%
2,582 2,580 -54.70% -9.24% -4.44%
154,741 69,755 195.56% -7.61% -82.75%
16,688 18,990 20.40% 28.70% 26.50%
10,408,208 8,980,153 251.54% 19.55% -2.61%
26,151,561 25,660,838 83.57% 22.42% 11.58%
ntage Method)
2009-2008
Change %
-4.04%
260.87%
35.21%
-16.22%
-70.92%
28.83%
106.81%
-44.67%
-5.51%
-100.00%
-8.22%
-11.71%
67.40%
-13.09%
70.84%
53.14%
-13.01%
-51.39%
-7.43%
-4.68%
0.00%
1.49%
0.00%
0.00%
1.44%
-1.88%
-
-11.13%
205.64%
-19.65%
32.59%
-44.40%
2226.86%
-0.77%
24.47%
-0.12%
-54.81%
-
58.98%
-
73.67%
1.80%
-
180.87%
9.41%
-3.83%
0.60%
126.76%
30.05%
-
-
38.89%
60.95%
-
34.95%
-100.00%
242.23%
-10.00%
-100.00%
-
-9.95%
-0.08%
-54.92%
13.79%
-13.72%
-1.88%
Maple Leaf Cement Factory Ltd.
Sumarized Income Statement
ent
In co me Statem 2005 2006 2007
ed
Sumariz Rs. In'000 Rs. In'000 Rs. In'000
Sales Net
Gross Sales 11,217,026,156 7,954,901 5,514,208
Less:
Rebate/Discount 20,567,722 1,128,106 1,024,041
Sale Tax 1,286,776,404 1,036,977 705,845
Commision 74,502 80,026 73,241
Sales Net 9,909,607,528 5,709,792 3,711,081
Cost of Sales
Raw materials consumed 130,228 166,157 139,472
Packging materials used 244,149 263,011 265,566
Fuel and Power 1,840,927 2,195,762 1,795,408
Stores and spares consumed 225,830 239,285 239,930
Salaries, wages and amenities 163,759 200,459 170,540
Rent,Rates and taxes 7,815 3,202 4,435
Insurance 13,950 12,965 16,284
Repair and maintenance 19,758 41,019 28,582
Depreciation 338,223 359,987 418,032
Other expenses 72,726 73,180 92,499
Opening W.I.P 43,840 128,288 130,426
Transfer from trial run operations - 11,842 198,618
Closing W.I.P (128,288) (130,426) (90,848)
Cost of goods manufactured 2,972,917 3,564,731 3,408,944
Opening stock of Finished goods 15,755 25,870 36,498
Transfer from trial run operations - 7,109 26,313
Closing stock of Finished goods (25,870) (36,498) (70,567)
Cost of Goods Sold 2,962,802 3,561,212 3,401,188
Gross Profit 9,906,644,726 2,148,580 309,893
Distributing Expenses 40,287 20,961 69,021
Administrative Expenses 12,973 60,474 67,291
Other operating Espenses 59,714 118,024 18,371
Operating Profit 9,906,531,752 1,949,121 155,210
Other Income 18,097 26,671 43,224
Profit before Income and Tax 9,906,549,849 1,975,792 198,434
Finance cost 205,677 340,978 338,453
(loss)/Profit before Taxation 9,906,344,172 1,634,814 (140,019)
Taxation
Current (38,880) 28,536 (9,477)
Deffered 338,808 547,038 (172,589)
Total Taxation 299,928 575,574 (182,066)
Profit after Taxation 9,906,044,244 1,059,240 42,047
ment Factory Ltd. Vertical analysis
ome Statement
Income Statement
2008 2009
Rs. In'000 Rs. In'000 2005 2006 2007 2008
259,492 465,107 0% 3% 4% 3%
662,674 1,042,435 0% 5% 7% 8%
3,580,340 6,948,392 0% 38% 48% 46%
381,364 468,022 0% 4% 6% 5%
238,114 301,549 0% 4% 5% 3%
8,380 14,382 0% 0% 0% 0%
Verticle Analyisis
29,564 38,180 0% 0% 0% 0%
45,248 45,453 0% 1% 1% 1%
848,098 1,042,618 0% 6% 11% 11%
98,224 148,943 0% 1% 2% 1%
90,848 215,740 0% 2% 4% 1%
331,228 - 0% 0% 5% 4%
(215,740) (368,576) 0% -2% -2% -3%
6,357,834 10,362,245 0% 62% 92% 81%
70,567 123,032 0% 0% 1% 1%
186,630 - 0% 0% 1% 2%
(123,032) (188,412) 0% -1% -2% -2%
6,491,999 10,296,865 0% 62% 92% 83%
1,323,830 4,954,509 100% 38% 8% 17%
834,849 2,339,833 0% 0% 2% 11%
121,236 151,584 0% 1% 2% 2%
24,838 42,251 0% 2% 0% 0%
342,907 2,420,841 100% 34% 4% 4%
105,656 61,749 0% 0% 1% 1%
448,563 2,482,590 100% 35% 5% 6%
1,812,807 3,400,241 0% 6% 9% 23%
(1,364,244) (917,651) 100% 29% -4% -17%
44,815 64,321 0% 0% 0% 1%
-732,924 998 0% 10% -5% -9%
-688,109 65,319 0% 10% -5% -9%
(676,135) (982,970) 100% 19% 1% -9%
2009
124%
12%
11%
1%
100%
3%
7%
46%
3%
2%
0%
0%
0%
7%
1%
1%
0%
-2%
68%
1%
0%
-1%
68%
32%
15%
1%
0%
16%
0%
16%
22%
-6%
0%
0%
0%
-6%
Maple Leaf Cement Factory Ltd.
Non-Current Assets
Intangible assets - - 4,578
Loans to employees - 7,127 6,373
Deposits and prepayments - 15,923 43,200
Investment 14,566 368,881 0
Property ,plant and equipment 8,462,382 16,088,505 19,330,866
Deffered Taxation
Long terms loans to employees 5,824 - -
Long terms deposits and Prepayments 6,142 - -
Total Non-Current Assets 8,488,914 16,480,436 19,385,017
Non-Current Libilities
Loans from related parties - - 250,000
Long term loans and financies 2,157,706 7,868,948 8,576,657
Redeemable capital 41,650 - -
Syndicated term finances - - -
Liabilities against assets subject to finance lease - 12,226 268,040
Lease finance advances and accrued interest thereon - 74,146 679,676
Long term deposits 6,572 2,977 2,702
Deferred taxation 328,571 971,128 897,183
Employees' compensated absences 8,513 10,250 13,192
Total Non-Current Libilities 2,543,012 8939675 10,687,450
Total Equities and Liablities 10,428,973 19,144,898 23,436,974
nt Factory Ltd. Verticle Analysis
104,134 99,932 4% 1% 1% 0% 0%
44,907 162,058 0% 0% 0% 0% 1%
21,780 29,448 0% 0% 0% 0% 0%
9,768 8,184 1% 0% 0% 0% 0%
57,769 16,797 1% 0% 0% 0% 0%
763 983 0% 0% 0% 0% 0%
69,292 143,306 0% 0% 0% 0% 1%
734,859 406,563 0% 0% 4% 3% 2%
82,814 78,254 0% 2% 0% 0% 0%
365,748 - 0% 0% 1% 4% 0%
743,366 682,244 1% 1% 1% 3% 3%
3,325,744 2,936,194 11% 10% 9% 13% 11%
13,926 23,312 0% 0% 0% 0% 0%
81,254 70,614 0% 0% 0% 0% 0%
215,740 368,576 1% 1% 1% 1% 1%
123,032 188,412 0% 0% 0% 0% 1%
5,994,896 5,214,877 19% 14% 17% 23% 20%
15,082 7,332 0% 0% 0% 0% 0%
6,121 5,666 0% 0% 0% 0% 0%
54,014 51,485 0% 1074% 0% 0% 0%
0 0 0% 2% 0% 0% 0%
20,081,448 20,381,478 81% 84% 82% 77% 79%
- - 0% 0% 0% 0% 0%
- - 0% 0% 0% 0% 0%
20,156,665 20,445,961 81% 86% 83% 77% 80%
431,718 572,423 2% 2% 1% 2% 2%
1,505,980 837,321 0% 0% 1% 6% 3%
458 10,657 0% 0% 0% 0% 0%
213,192 211,556 1% 1% 0% 1% 1%
110,513 137,553 0% 0% 0% 0% 1%
33,193 33,153 0% 0% 0% 0% 0%
22,962 10,376 0% 0% 0% 0% 0%
- - 1% 0% 0% 0% 0%
7,136 11,345 0% 0% 0% 0% 0%
- - 0% 0% 0% 0% 0%
1,565 2,718 0% 0% 0% 0% 0%
2,726 2,775 0% 0% 0% 0% 0%
0 71,512 0% 0% 0% 0% 0%
157,404 442,106 0% 0% 0% 1% 2%
8,712 9,532 0% 0% 0% 0% 0%
1,594 1,533 0% 0% 0% 0% 0%
52,994 53,310 0% 0% 0% 0% 0%
194,568 441,194 0% 1% 2% 1% 2%
3,369,738 4,382,322 6% 5% 3% 13% 17%
- 128,889 4% 3% 8% 0% 1%
- 800,000 1% 0% 0% 0% 3%
1,080,000 1,500,000 0% 0% 0% 4% 6%
188,011 302,609 0% 0% 0% 1% 1%
- - 0% 0% 0% 0% 0%
7,382,464 9,962,884 15% 14% 16% 28% 39%
35,224 - 0% 0% 1% 0% 0%
241,539 826,614 21% 41% 37% 1% 3%
8,000,000 7,200,000 0% 0% 0% 31% 28%
1,000,000 - 0% 0% 0% 4% 0%
- - 0% 0% 1% 0% 0%
957,434 862,214 0% 0% 3% 4% 3%
2,582 2,580 0% 0% 0% 0% 0%
154,741 69,755 3% 5% 4% 1% 0%
16,688 18,990 0% 0% 0% 0% 0%
10,408,208 8,980,153 24% 47% 46% 40% 35%
26,151,561 25,660,838 100% 100% 100% 100% 100%
Financial Ratios
Solvency Ratios
Debt to Equity Ratio =Total debts/Shareholder's funds
Interest Coverege Ratio =Net Profit before Interest and Tax /fixed Interest Charges
Return on capital employed =(Net profit before interest and tax/Capital employed)*100
Year 2005 2006 2007 2008 2009
EBIT 1,233,055 1,975,792 198,434 448,563 2,482,590
Net capital employed 8,806,942 16,103,448 19,626,336 18,693,880 15,633,471
Ratio 14.00% 12.27% 1.01% 2.40% 15.88%
Retun on shareholder's funds =(Net profit after interest and tax/shareholders' funds)*100
Liquidity Ratios
1)Current Ratio =Current Assets/Current Liablities
Activity Ratios
5) Inventory Turnover Ratio =Cost of sales/Inventory
Year 2005 2006 2007
Cost of sales 2,962,802 3,561,212 3,401,188
Inventory 183,217 200,946 369,709
Ratio 16.17 17.72 9.20
Profitabilty Ratios
10 )Gross profit ratio =( Gross profit/Sales)*100
Year 2005 2006 2007
Gross profit 1,327,932 2,148,580 309,893
Sales 4,290,734 5,709,792 3,711,081
Ratio 30.95% 37.63% 8.35%
2008 2009
5,994,896 5,214,877
7,382,464 9,962,884
0.81 0.52
ntory/Current Liabilities
2008 2009
5,994,896 5,214,877
433,952 650,914
7,382,464 9,962,884
0.75 0.46
ent/Current Liabilities
2008 2009
104,134 99,932
734,859 406,563
7,382,464 9,962,884
0.11 0.05
sets-Current Liabilities
2008 2009
5,994,896 5,214,877
7,382,464 9,962,884
(1,387,568) (4,748,007)
tios
st of sales/Inventory
2008 2009
6,491,999 10,296,865
433,952 650,914
14.96 15.82
ventory/Cost of sales)*365
24 23
/ Average receivables
2008 2009
7,815,829 15,251,374
765,146 711,692
10.21 21.43
AI+ACP
2008 2009
60 40
Sales/Total Assets
2008 2009
7,815,829 15,251,374
26,151,561 25,660,838
0.30 0.59
et sales/Fixed Assets
2008 2009
7,815,829 15,251,374
20,081,448 20,381,478
0.39 0.75
atios
profit/Sales)*100
2008 2009
1,323,830 4,954,509
7,815,829 15,251,374
16.94% 32.49%
ng expense/Net sales)*100
2008 2009
7,472,922 12,830,533
7,815,829 15,251,374
95.61% 84.13%
ofit/Net sales)*100
2008 2009
-676,135 -982,970
7,815,829 15,251,374
-8.65% -6.45%
Ratio
Ratio
0.6 0.4
0.4 0.2
0.2 0
2005 2006 2007
0
Year
2005 2006 2007 2008 2009
Year
Cash Ratio
Quick Ratio Cash Ratio
0.3
Quick Ratio
0.25
0.2
0.15
Ratio
0.1
0.05
0
2005 2006 2007 2008 2009
2005 2006 2007 2008 2009
Year Year
Cash Ratio Working Capital
Working Capital
1000000
0
-10000002005 2006 2007 2008 2009
Rupees
-2000000
-3000000
-4000000
-5000000
2009 -6000000
Year
Effeiciency Ratio
Avera
Average age of inventory
40
40 35
30 30
25
Days
20 Row 50
20
Days
10 15
0 10
2005 2006 2007 2008 2009 5
Year 0
2005 2006
Y
Average Collection period Operating Cycle
40 Operating Cycle
Average 35
35 Collection 30
30 period
25
25 20
Days
20
Days
15
15 10
10 5
5 0
2005 2006 2007 2008 2009
0
2005 2006 2007 2008 2009 Year
Year
Total Asset Turnover Ratio
Fixed
le Total Asset
0.7 Turnover Ratio 0.8
Operating Cycle
0.7
0.6
0.6
Ratio (Times)
0.5 0.5
0.4 0.4
Ratio
0.3 0.3
0.2 0.2
0.1
0.1
0
0 2005 2006
009 2005 2006 2007 2008 2009
Year
Profitabiltiy Ratios
Fixed Asset Turnover Ratio Gross profit Ratio
0.8 Gro
0.4
0.7
0.35
0.6
Ratio (Times)
0.3
0.5
0.25
Ratio (%)
0.4 Fixed Asset
0.3 0.2
Turnover Ratio
0.2 0.15
0.1 0.1
0 0.05
2005 2006 2007 2008 2009 0
2005 2006 2007 200
Year Year
Net profit Margin
Gross profit Ratio Net profit Margin
Gross profit Ratio 0.25
0.2
0.15
Ratio (%)
0.1
0.05
0
-0.05 2005 2006 2007 2008 2009
-0.1
2006 2007 2008 2009 -0.15
Year Year
Operating expense
Operating Profit Margin
120.00%
0.4
100.00%
0.3 80.00%
Ratio (%)
Operatin
Ratio (%)
0.2 g Profit 60.00%
0.1
Margin 40.00%
20.00%
0
0.00%
2005 2006 2007 2008 2009
005 0 6
Year 2 20 2
Operating expense Ratio
Operating expense
Ratio
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
005 0 6 0 7 08 09
Year
2 20 20 20 20
Debt to Equity Ratio
Solvency Ratios
3.00
2.50
Ratio (Times)
2.00
1.50 Debt to Equity
1.00 Ratio
0.50
0.00
2005 2006 2007 2008 2009
Year
Earning Per
Interest Coverege Ratio
4
bt to Equity 4.00 0
io 3.00 -1 2005 2006 2007 2008 2
2.00 -2
1.00 -3
0.00 -4
2005 2006 2007 2008 2009
Year
Year
Earning Per share
Return on Assets
Return on Assets
6.00%
Ratio (Times)
Earning Per share
2005 2006 2007 2008 2009 2.00%
-6.00%
Year
Year
Return on Capital employed
Ratio (%)
5.00%
Ratio (%) 8.00% 0.00%
4.00%
-5.00% 20
2008 2009 -10.00%
0.00% -15.00%
2005 2006 2007 2008 2009
Year -20.00%
Retun on Equity
Retun on Equity
20.00%
15.00%
10.00%
Ratio (%)
5.00%
0.00%
-5.00% 2005 2006 2007 2008 2009
-10.00%
-15.00%
-20.00% Year