square textile

8/11/2019 Square Textile

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Statement of Comprehensive

Income2009 2010 2011

Turnover 3882244010.00 4445402112.00 5247748947.00

Less: Cost of goods sold 3348870289.00 3558642850.00 4176991364.00

Gross profit 533373721.00 886759262.00 1070757583.00

Less: Operating expenses:

Administrative and selling expenses 109832354.00 113189908.00 157385096.00

Written off/welfare Expenses 0.00 0.00 0.00

Operating profit 423541367.00 773569354.00 913372487.00

Other income/loss 25554510.00 31023629.00 15710732.00

Profit before PPF & WF 449095877.00 804592983.00 929083219.00

Less: Provision for PPF and WF 15588844.00 33808717.00 36481050.00

Earnings before interest and taxes 433507033.00 770784266.00 892602169.00

Less: Financial expenses 121730159.00 94609920.00 162981165.00

Earnings before tax 311776874.00 676174346.00 729621004.00

Less: Tax expense:

Current tax 0.00 0.00 0.00

Provision for Income Tax 51142872.00 111405203.00 109443150.00

Tax Holiday reserve at 40% 0.00 0.00 0.00

Provision for Tax on non operating income 0.00 0.00 0.00

Provision for taxes 0.00 0.00 0.00

Deferred tax expense/(income) 0.00 0.00 0.00

Total tax expense 51142872.00 111405203.00 109443150.00

Earnings after tax 260634002.00 564769143.00 620177854.00Non Controlling interest 0.00 0.00 0.00

Other comprehensive income:

Fair valuation surplus of investment 0.00 0.00 0.00

Net income for the year 260634002.00 564769143.00 620177854.00

Less: Proposed dividend 0.00 0.00 0.00

Transfer to reserve 0.00 0.00 0.00

Recommended Dividend 0.00 0.00 0.00

Dividend payout ratio 0.000025 0.000025 0.000025

Number of shares outstanding 70584053.00 81171661.00 97405993.00

Earnings per share without fair valuation surplusof investment

Earnings per share with fair valuation surplus of

investment

Internal Liquidity Ratios

Current Ratio 1.42 1.47 1.57

Quick Ratio 1.00 0.92 1.17

Inventory Turnover 3.55 2.19 3.38

Days Sales Outstanding 156.09 134.98 137.80

Square Textil


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Operating Efficiency Ratios

Fixed Asset Turnover 1.70 1.93 2.17

Total Asset Turnover 0.70 0.67 0.73

Operating Profitablity Ratios

Net Profit Margin 6.71% 12.70% 11.82%Return on Total Assets (ROA) 4.73% 8.55% 8.58%

Return on Equity (ROE) 8.36% 15.81% 15.27%

Financial Risk/Leverage Ratios

Debt to Total Asset Ratio 0.43 0.46 0.44

Times Interest Earned 3.56 8.15 5.48

End-of-Year Stock Price 111.54 209.8 111.2

Earnings Per Share (EPS) 3.69 6.96 6.37

Price/Earnings Ratio 30.21 30.15 17.47

Book Value/Market Value

Market:Book Ratio 2.52 4.77 2.67


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2012 2013

5431437667.00 5238437265.00

4450585087.00 4289716936.00

980852580.00 948720329.00

186201253.00 202310024.00

0.00 0.00

794651327.00 746410305.00

2410922.00 22819858.00

797062249.00 769230163.00

34463147.00 34838943.00

762599102.00 734391220.00

73336162.00 37612361.00

689262940.00 696778859.00

0.00 0.00

107382449.00 107850441.00

0.00 0.00

0.00 0.00

0.00 0.00

842227.00 1146382.00

108224676.00 108996823.00

581038264.00 587782036.000.00 0.00

0.00 0.00

581038264.00 587782036.00

0.00 0.00

0.00 0.00

0.00 0.00

0.000025 0.000025

116887192.00 134420271.00

2.82 3.00

2.08 2.09

3.85 3.45

134.78 129.15


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3.08 2.31

0.88 0.82

10.70% 11.22%9.44% 9.24%

12.95% 12.03%

0.27 0.23

10.40 19.53

102.8 90.4

4.97 4.37

20.68 20.67

2.68 2.49


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Statement of Financial Position

2009 2010Fixed assets:

Property, Plant and equipment 1,378,552,606.00 1,286,399,483.00

Less: Accumulated depreciation 0.00 0.00

Net Property, Plant and equipment 1,378,552,606.00 1,286,399,483.00

Goodwill 800,000,000.00 857,619,239.00

Investment 105,000,000.00 160,783,760.00

Total Fixed Asset 2,283,552,606.00 2,304,802,482.00

Others assets:

Intangible asset 0.00 0.00

Total Other Asset 0.00 0.00

Current assets:

Inventories 942,568,134.00 1,623,278,528.00

LC margin 0.00 0.00

Trade debtors 1,683,329,048.00 1,666,731,087.00

Inter Company Rec. 0.00 0.00

Short term Loan 431,848,649.00 656,447,428.00

STD Account (IPO) 0.00 0.00

Advances, deposits &prepayments 120,651,506.00 289,172,239.00

Other receivables 0.00 0.00

FDR 0.00 0.00

Cash & cash equivalents 46,332,373.00 65,503,243.00

Total current assets 3,224,729,710.00 4,301,132,525.00

Total assets 5,508,282,316.00 6,605,935,007.00

Current liabilities:

Working capital loan 0.00 0.00

Current portion of long term loan 573,802,358.00 998,924,770.00

Inter Company Payable 0.00 0.00

Inter company loan 0.00 0.00

Short term loan 552,993,073.00 787,887,594.00

Provision For Income Tax 108,728,783.00 210,154,935.00

Other Current Liabilities 170,321,074.00 192,438,380.00

Sundry creditors 870,756,515.00 733,985,411.00

Proposed dividend 0.00 0.00

Total current liabilities 2,276,601,803.00 2,923,391,090.00

Non-current liabilities:

Deffered tax liabilities 112,276,486.00 111,305,232.00

Total Non-current Liabilities 112,276,486.00 111,305,232.00

Total liabilities 2,388,878,289.00 3,034,696,322.00

Shareholder's fund:

Share capital 705,804,530.00 811,716,610.00


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General Reserve/Surplus 2,413,563,497.00 2,759,522,075.00

Total shareholder's fund 3,119,368,027.00 3,571,238,685.00

Total liabilities and equity 5,508,246,316.00 6,605,935,007.00

Financial Distress Calculation 2009 2010Net Working Capital 948,127,907.00 1,377,741,435.00

Retained Earnings 2,413,563,497.00 2,759,522,075.00

Earning before interest and tax 433507033.00 770784266.00

Market value of Equity 7872945272 17029814478

Sales 3882244010.00 4445402112.00

Total Assets 5,508,282,316.00 6,605,935,007.00

Book Value of Liability 2,388,878,289.00 3,034,696,322.00

Share Price 111.54 209.8

Calculation of Z-Score

X1 0.172127689 0.208561155

X2 0.438169897 0.417733761

X3 0.078700947 0.116680571

X4 3.295666132 5.611703008

X5 0.704801204 0.672940637

Z-Score 3.761905091 5.260108976


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2011 2012 2013

1,402,876,722.00 1,545,127,747.00 1,678,520,414.00

0.00 0.00 0.00

1,402,876,722.00 1,545,127,747.00 1,678,520,414.00

857,619,239.00 57,619,239.00 423,550,119.00

160,783,760.00 160,783,760.00 160,783,760.00

2,421,279,721.00 1,763,530,746.00 2,262,854,293.00

0.00 0.00 0.00

0.00 0.00 0.00

1,236,014,474.00 1,156,434,388.00 1,243,943,446.00

0.00 0.00 0.00

2,008,696,513.00 2,033,491,148.00 1,879,244,296.00

0.00 0.00 0.00

695,694,698.00 606,599,198.00 459,680,590.00

0.00 0.00 0.00

542,235,494.00 293,416,412.00 271,092,185.00

0.00 0.00 .

0.00 0.00 0.00

321,816,224.00 299,649,897.00 241,642,188.00

4,804,457,403.00 4,389,591,043.00 4,095,602,705.00

7,225,737,124.00 6,153,121,789.00 6,358,456,998.00

0.00 0.00 0.00

486,705,024.00 86,339,827.00 42,333,500.00

0.00 0.00 0.00

0.00 0.00 0.00

569,592,985.00 0.00 0.00

319,598,085.00 219,387,626.00 113,021,115.00

291,387,314.00 246,571,137.00 293,249,108.00

1,385,606,603.00 1,001,945,184.00 915,358,665.00

0.00 0.00 0.00

3,052,890,011.00 1,554,243,774.00 1,363,962,388.00

111,305,232.00 112,147,459.00 108,123,167.00

111,305,232.00 112,147,459.00 108,123,167.00

3,164,195,243.00 1,666,391,233.00 1,472,085,555.00

974,059,930.00 1,168,871,920.00 1,344,202,710.00

quare Textile


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3,087,481,951.00 3,317,858,636.00 3,542,168,733.00

4,061,541,881.00 4,486,730,556.00 4,886,371,443.00

7,225,737,124.00 6,153,121,789.00 6,358,456,998.00

2011 2012 20131,751,567,392.00 2,835,347,269.00 2,731,640,317.00

3,087,481,951.00 3,317,858,636.00 3,542,168,733.00

892602169.00 762599102.00 734391220.00

10831546422 12016003338 12151592498

5247748947.00 5431437667.00 5238437265.00

7,225,737,124.00 6,153,121,789.00 6,358,456,998.00

3,164,195,243.00 1,666,391,233.00 1,472,085,555.00

111.2 102.8 90.4

0.242406742 0.460798171 0.429607422

0.427289548 0.539215499 0.557079923

0.12353095 0.123936943 0.115498339

3.423159947 7.21079366 8.254678172

0.726257938 0.882712524 0.823853533

4.076899498 6.926040135 7.453245752


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2009 1.42

2010 1.47

2011 1.572012 2.82

2013 3

0

0.5

1

1.5

2

2.5

3

3.5

2009 2010 2011

Current Rat

1.42 1.471.57


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2012 2013

io

2.823.00


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2009 1

2010 0.92

2011 1.172012 2.08

2013 2.09

0

0.5

1

1.5

2

2.5

2009 2010 201

Quick R

1.0 0.92

1.1


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13/36

2009 3.55

2010 2.19

2011 3.382012 3.85

2013 3.45

0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

2009 2010

Inventor

3.55

2.19


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2011 2012 2013

y Turnover

3.38

3.853.45


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2009 156.09

2010 134.98

2011 137.82012 134.78

2013 129.15

0

50

100

150

200

20092010

2011 20122

Direct Sales Outstanding

156.09

134.98 137.80 134.78


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13

29.15


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2009 1.7

2010 1.93

2011 2.172012 3.08

2013 2.31

0

0.5

1

1.5

2

2.5

3

3.5

2009 2010 2011

Fixed Asset Tu

1.701.93

2.17


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2012 2013

nover

3.08

2.31


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2009 0.7

2010 0.67

2011 0.732012 0.88

2013 0.82

0

0.1

0.2

0.3

0.4

0.5

0.6

0.7

0.8

0.9

1

2009 2010 2011 2012

Total Asset Turnover

0.700.67

0.73

0.88


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2013

0.82


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2009 6.71

2010 12.7

2011 11.822012 10.7

2013 11.22

0

2

4

6

8

10

12

14

2009 2010 2011 2012

Net Profit Margin

6.71%

12.70%11.82%

10.70%


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2013

11.22%


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2009 4.73

2010 8.55

2011 8.582012 9.44

2013 9.24

0

1

2

3

4

5

6

7

8

9

10

2009 2010 2011 2012

Return On Asset

4.73%

8.55% 8.58%9.44


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2013

9.24%


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2009 8.36

2010 15.81

2011 15.272012 12.95

2013 12.03

0

2

4

6

8

10

12

14

16

18

2009 2010 2011 2012

Return on Equty

8.36%

15.81% 15.27%

12.95%


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2013

12.03%


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2009 0.43

2010 0.46

2011 0.442012 0.27

2013 0.23

0

0.1

0.2

0.3

0.4

0.5

2009 2010 2011 201

Debt Ratio

0.43 0.460.44

0.


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2013

270.23


29/36


30/36

2013

19.53


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2009 30.21

2010 30.15

2011 17.472012 20.68

2013 20.67

0

5

10

15

20

25

30

35

2009 2010 2011 201

P/E Ratio

30.21 30.15

17.47

20.6


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2 2013

8 20.67


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2009 2.52

2010 4.77

2011 2.672012 2.68

2013 2.49

0

1

2

3

4

5

20092010

20112012

M/B Ratio

2.52

4.77

2.67 2.68


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2013

2.49


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2009 3.69

2010 6.96

2011 6.37

2012 4.972013 4.37


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0

1

2

3

4

5

6

7

8

2009 2010 2011 2012 2013

3.69

6.966.37

4.97

4.37

square textile

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