phillips lamps ltd

8/2/2019 Phillips Lamps Ltd

1/12

Assets 2006 2007 2008 2009

Property,plant and equipment 150075514 135067026 123775188 106946118

Fixed assets under construction

Intangible assets 147500 117500

Investments :

At cost 421485063 33617998 38250523 38250523

Fair value adjustment 427109234

Loans and deposits 1940577 1772142 1929289 2240969

Total non-current assets 573501154 170457166 164102500 574664344

Inventories 62024184 65542150 93553486 127990769

Trade and other debtors 234984480 225362699 278058033 253086921

Advances, deposits and prepayments 3505365 4324501 4985502 4999566

Advance incom tax 38395664 40143461 41570612 25757285

Cash and cash equivalents 101016 80101160 130136651 89925773

Total current assets 339010709 415473971 548304284 501760314

Total assets 912511863 585931137 712406784 1076424658

Equity

Share capital 72081600 72081600 72081600 72081600

Reserves and surplus 131398995 166767041 200461710 660851274

Total equity 203480595 238848641 272543310 732932874

Liabilities

Long term loan 5172458 36458334

Deferred liability - gratuity payable 17285759 18684717 21260678 22008780

Deferred tax - liability 35032712 30653212 23791792 19441088

Total non-current liabilities 57490929 49337929 45052470 77908202

Current portion of long term loan 9568000 12500000

Short term finance 522515991 168930625 240334940 92323508

Trade and other creditors 22760360 14593642 33103035 60957763

Accrued expenses 4421952 5632690 7180202 7455857

Other liabilities 20785829 29517777 24945518 16210389Provision for tax 57735814 62549700 66360009 48652421

Provision for royalty 13752393 16520133 22887300 27483644

Total current liabilities and provisions 651540339 297744567 394811004 265583582

Total liabilities 709031268 347082496 439863474 343491784

Total equity and liabilites 912511863 585931137 712406784 1076424658

Items 2006 2007 2008 2009

Sales (net of VAT) 317293796 351224428 537971989 615330715

Cost of goods sold -239488002 -269673407 -429824201.00 -502808649.00Gross Profit 77805794 81551021 108147788 112522066

Other income 9350369 7588623 7643000 11093380

Opertating expenses -18532365 -19884118 -28009440 -29791885

Profit from operations 68623798 69255526 87781348 93823561

Finance expenses -3111827 -34253260 -30787024 -33567694

Finance income 18343691 21231278 18132099 21650392

Net finance expense 15231864 -13021982 -12654925 -11917302

ang a es u m e ps

Bangladesh Lamps Limited (Phillips)

Income Statement

Balance Sheet


2/12

Profit before contribution to WPPF 83855662 56233544 75126423 81906259

Contribution to WPPF -2626727 -2677788 -3577449 -3900298

Profit before income tax 81228935 53555756 71548974 78005961

Income tax:

Current tax -21825139 -22567210 -23091245 -23847775

Deferred tax 2759222 4379500 6861420 4350704

-19065917 -18187710 -16229825 -19497071

Net profit for the year 62163018 35368046 55319149 58508890

Items 2006 2007 2008 2009

Fixed Asset 150075514 135067026 123775188 106946118

Total Asset 912511863 585931137 712406784 1076424658

Current Liability 651540339 297,744,567 394811004 265583582

Long term Debt 5172458 48958334

Account Payable/ Trade Creditors 22760360 14593642 33103035 60957763

Total Debt/ Total Liability 709031268 347,082,496 439863474 343491784Total Equity 203480595 238848641 379138915 732932874

Accounts Receivables/ Trade debtors 210564740 205,772,830 260508808 242139163

Inventory/ Stock 62024184 65542150 93553486 127990769

Cash and Cash equivalents 101016 80101160 130136651 89925773

Share Outstanding 72081600 72081600 72081600 72081600

Net Income 62163018 35368046 55319149 58508890

Sales/ Turnover 317293796 351224428 537971989 615330715

Cost of Goods Sold 239488002 269673407 429824201 502808649

Earning Before interest and tax 53195869 53555756 71548974 78005961

Retained Earnings 24935642 33630311 36940641

Interest Charges/ Financial Expenses 3111827 34253260 30787024 33567694

Operating Expenses 18532365 19884118 28009440 29791885

Other Expense 18532365 19884118 28009440 29791885

Market Price Per Share 4858.3 752 1096.8 1849.3

2006 2007 2008 2009

Current Ratio 0.52 1.40 1.39 1.89

Quick Ratio 0.43 1.18 1.15 1.41

Cash Ratio 0.00 0.27 0.33 0.34

Analysis:

Bangladesh Lamps Limited (Phillips)

Ratio Analysis

Liquidity Ratios

From the comparison of this for years we can see that, current ratio decreased in 2008 from 2007 and there was a further

Current ratio increased in 2007 from 2006 and 2009 from 2008.

Quick Ratio increased in 2007 than 2006 then decreased in 2008 again increased in 2009 but also decreased in 2010.

Every year cash ratio increased gradually.

0.00

0.50

1.00

1.50

2.00

2006 2007 2008 2009 2010

Current Ratio

Quick Ratio

Cash Ratio


3/12

Inventory Turnover Ratio 3.86 4.11 4.59 3.93

Inventory Turnover Period 94.53 88.71 79.44 92.91

Receivables Turnover Ratio 1.35 1.56 1.93 2.43

Receivables Turnover Period 270.32 234.20 188.66 150.13

Total Asset Turnover Ratio 0.35 0.60 0.76 0.57

Fixed Asset Turnover Ratio 2.11 2.60 4.35 5.75

Efficiency Ratios


4/12

Payable Deferrel Period 0.0003 0.0002 0.0002 0.0003

Cash Conversion Cycle 364.85 322.91 268.10 243.04

2006 2007 2008 2009

Debt/ Asset Ratio 78% 59% 62% 32%

Long Term Debt Ratio 1% 0% 0% 14%

Time Interest Earned 76.96 7.87 13.96 14.98

2006 2007 2008 2009

Profit Margin 20% 10% 10% 10%

Return on Asset 7% 6% 8% 5%

Return on Equity 31% 15% 15% 8%

2006 2007 2008 2009

Earning Per Share 0.86 0.49 0.77 0.81

Price Earning Ratio 5633.48 1532.61 1429.15 2278.29

Market to Book Ratio 1721.02 226.94 208.52 181.87

Market Book

Profitabiliti Ratio

Debt Management Ratio

RTOP decreased from 2006 to 2010 continuously.

From 2006 to 2008 there was a continuous increase in ITOR but in the year 2009 and 2010 there was also a continuous d

There was a decrease in 2007 but after that there was continuous increase from 2008 to 2010 in ITOP.

RTOR increased from 2006 to 2010.

TATOR was increased in 2007 and 2008 but also decreased from 2009 to2010.

There was a continuous increase in FATOR from 2006 to 2009 but in 2010 there was a decrease than 2009.

D/A Ratio decreased in 2007 than 2006 and increased in 2009 and 2010.

Long Term Debt Ratio decreased in 2007 and 2008 but increased in 2009 and again decreased in 2010.

Profit decreased in 2007 and then profit was constant up to 2010.

ROA was decreased in 2007 then increased in 2008 and decreased in 2009 and 2010.

ROE decreased in 2007 then constant in 2008 and again decreased in 2009 and 2010.

0%

5%

10%

15%

20%

25%

30%

35%

2006 2007 2008 2009 2010

Profit Margin

Return on Asset

Return on Equity


5/12

Assets 2006 2007 2008 2009

Property,plant and equipment 16% 23% 17% 10%

Fixed assets under construction 0% 0% 0% 0%

Intangible assets 0% 0% 0% 0%

Investments :

At cost 46% 6% 5% 4%

Fair value adjustment 0% 0% 0% 40%

Loans and deposits 0% 0% 0% 0%

Total non-current assets 63% 29% 23.03% 53%

Inventories 7% 11% 13% 12%

Trade and other debtors 26% 38% 39% 24%

Advances, deposits and prepayments 0% 1% 1% 0%

Advance incom tax 4% 7% 6% 2%

Cash and cash equivalents 0% 14% 18% 8%

Total current assets 37% 71% 77% 47%

Total assets 100% 100% 100% 100%

Equity

Share capital 8% 12% 10% 7%

Reserves and surplus 14% 28% 28% 61%

Total equity 22% 41% 38% 68%

Liabilities

Long term loan 1% 0% 0% 3%

Deferred liability - gratuity payable 2% 3% 3% 2%

Deferred tax - liability 4% 5% 3% 2%

Total non-current liabilities 6% 8% 6% 7%

Current portion of long term loan 1% 0% 0% 1%

Short term finance 57% 29% 34% 9%

Trade and other creditors 2% 2% 5% 6%

Accrued expenses 0% 1% 1% 1%

Other liabilities 2% 5% 4% 2%

Bangladesh Lamps Limited(Phillips)

Common Size Statement

Balance Sheet

EPS decreased in 2007 then increased in 2008, 2009 and 2010.

P/E ratio decreases from 2006 to 2008 and then increases in 2009 and 2010.

Market to Book ratio decreases decreases continuously from 2006 to 2010.

0.00

1000.00

2000.00

3000.00

4000.00

5000.00

6000.00

2006 2007 2008 2009 2010

Price Earnin

Market to B


6/12

Provision for tax 6% 11% 9% 5%

Provision for royalty 2% 3% 3% 3%

Total current liabilities and provisions 71% 51% 55% 25%

Total liabilities 78% 59% 62% 32%

Total equity and liabilites 100% 100% 100% 100%

Items 2006 2007 2008 2009

Sales (net of VAT) 100% 100% 100% 100%

Cost of goods sold 75.48% 76.78% 79.90% 81.71%

Gross Profit 24.52% 23% 20.10% 18%

Other income 3% 2% 1% 2%

Opertating expenses 6% 6% 5% 5%

Profit from operations 22% 20% 16% 15%

Finance expenses 1% 10% 6% 5%

Finance income 6% 6% 3% 4%

Net finance expense -5% -4% -2% -2%

Profit before contribution to WPPF 26% 16% 14% 13%

Contribution to WPPF 1% 1% 1% 1%

Profit before income tax 26% 15% 13% 13%

Income tax:

Current tax 7% 6% 4% 4%

Deferred tax 1% 1% 1% 1%

6% 5% 3% 3%

Net profit for the year 20% 10% 10% 10%

Bangladesh Lamps Limited(Phillips)

Common Size Statement

Income Statement


7/12

2010

102652877

21316156

87500

41667223

778385106

2049302

946158164

128611091

236000082

8971248

48444611

157370127

579397159

1525555323

72081600

1048657244

1120738844

40033896

25121780

15391607

80547283

14509444

147858218

39397112

6737950

2446965872595490

18701324

324269196

404816479

1525555323

2010

622571342

-476340355.00146230987

12305433

-65098163

93438257

-28339696

20626830

-7712866


8/12

85725391

-4082161

81643230

-23943069

4049481

-19893588

61749642

2010

123969033

1525555323

324269196

54543340

39397112

4048164791120738844

224341848

128611091

157370127

72081600

61749642

622571342

476340355

81643230

33440739

28339696

65098163

65098163

2613.5

2010

1.79

1.39

0.49

decrease in 2010.


9/12

3.70

98.55

2.64

138.36

0.41

5.02


10/12

0.0002

236.91

2010

27%

13%

16.81

2010

10%

4%

6%

2010

0.86

3050.79

168.09

crease in ITOR.


11/12

2010

6.73%

1.40%

0.01%

2.73%

51.02%

0.13%

62.02%

8.43%

15.47%

0.59%

3.18%

10.32%

37.98%

100.00%

4.72%

68.74%

73.46%

2.62%

1.65%

1%

5%

1%

10%

3%

0%

2%

Ratio

ok Ratio


12/12

4.76%

1%

21%

27%

100%

2010

100%

76.51%

23%

2%

10%

15%

5%

3%

-1%

14%

1%

13%

4%

1%

3%

10%

phillips lamps ltd

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