BALANCE SHEET of Kitex Garments

As at
March 31st,2017
Rs.
A. EQUITY & LIABILITIES:
1. Shareholders' Funds :
(a) Share Capital 47500000
(b) Reserves and Surplus 4397380414
Total 4444880414
2. Non-Current Liabilities:
(a)Long term borrowings 31428705
(b) Deferred Tax Liabilities (Net) 176398195
(c) Long-term Provisions 74158788
Total 281985688
3. Current Liabilities:
(a) Short-term Borrowings 0
(b) Trade Payables
Due to micro & Small enterprises 11153071
Other than micro & small 442349054
(c) Other Current Liabilities 92504068
(d) Short-term Provisions 160081730
Total 706087923
TOTAL 5432954025

B. ASSETS
1. Non-Current Assets :
(a)Fixed Assets
(i) Tangible Assets (PP&E) 1609517471
(ii) Intangible Assets 5395669
(iii) Capital Work-in-Progress 136778769
(iv) Intangible assets under development 19760547
 (b)Non-Current Investments 5454623
(c)Long-term Loans & Advances 106588102
(d)Other non current assets
Total 1883495181
2. Current Assets:
(a)Current Investments 0
(b) Inventories 404971707
(c) Trade Receivables 1311499004
(d) Cash & Bank Balances 1343955427
(e) Short Term Loans & Advances 40772395
(f) Other Current Assets 448260311
Total 3549458844
TOTAL 5432954025

0
As at As at
March 31st,2016 March 31st,2015
Rs. Rs.

47500000 47500000
3602445034 2591253797
3649945034 2638753797

82928326 268374074
206064695 225864695
45692937 32825754
334685958 527064523

835248182 1,139,126,808.00

4355163 6,068,508
411542963 191,170,382
271757347 351,015,851
256646605 499,647,505
1779550260 2187029054
5764181252 5352847374

1728354999 1878685129
1532980 3582539
1446971 2922747
10983017
 22149830 43400
85538625 35681531
20022373
1850006422 1,940,937,719

0 0
130231927 112034450
960064467 626598653
2499127677 2032576686
28898039 462005163
295852720 178694703
3914174830 3411909655
5764181252 5352847374

0 0
BALANCE SHEET of Kitex Garments

As at
March 31st,2017
Rs.
A. EQUITY & LIABILITIES:
1. Shareholders' Funds :
(a) Share Capital 47500000
(b) Reserves and Surplus 4397380414
Total 4444880414
2. Non-Current Liabilities:
(a)Long term borrowings 31428705
(b) Deferred Tax Liabilities (Net) 176398195
(c) Long-term Provisions 74158788
Total 281985688
3. Current Liabilities:
(a) Short-term Borrowings 0
(b) Trade Payables
Due to micro & Small enterprises 11153071
Other than micro & small 442349054
(c) Other Current Liabilities 92504068
(d) Short-term Provisions 160081730
Total 706087923
TOTAL 5432954025

B. ASSETS
1. Non-Current Assets :
(a)Fixed Assets
(i) Tangible Assets (PP&E) 1609517471
(ii) Intangible Assets 5395669
(iii) Capital Work-in-Progress 136778769
(iv) Intangible assets under development 19760547
 (b)Non-Current Investments 5454623
(c)Long-term Loans & Advances 106588102
(d)Other non current assets
Total 1883495181
2. Current Assets:
(a)Current Investments 0
(b) Inventories 404971707
(c) Trade Receivables 1311499004
(d) Cash & Bank Balances 1343955427
(e) Short Term Loans & Advances 40772395
(f) Other Current Assets 448260311
Total 3549458844
TOTAL 5432954025
As at
March 31st,2016
Rs.

47500000 0
3602445034 22.06655
3649945034 21.77938

82928326 -62.1014
206064695 -14.3967
45692937 62.29814
334685958 -15.7462

835248182 -100

4355163 156.0885
411542963 7.48551
271757347 -65.9608
256646605 -37.6256
1779550260 -60.3221
5764181252 -5.7463

1728354999 -6.87576
1532980 251.9726
1446971 9352.765
10983017 79.91912
 22149830 -75.374
85538625 24.60815

1850006422 1.810197

0
130231927 210.9619
960064467 36.60531
2499127677 -46.223
28898039 41.09053
295852720 51.51468
3914174830 -9.31783
5764181252 -5.7463
STATEMENT OF PROFIT & LOSS -Kitex Garments

Year Ended
Mar 31st , 2017
Rs.
1. Revenue from Operations(Net) 5,459,013,150
2. Other Income 19,977,082
3. Total Revenue (1 +2) 5,478,990,232
4.Expenses :
(a) Cost of Materials Consumed 2,109,616,146
(b)) Changes in Inventories of Finished
Goods,Intermediaries and Work in Process -157,574,001
(c) Employee Benefit Expenses 918,285,778
(d) Finance Cost 92,668,158
(e) Depreciation & Amortization expenses 203,627,653
(f) Other Expenses 885,354,999
Total Expenses 4,051,978,733

Profit before exceptional items and tax 1,427,011,499

Exceptional items 0
5. Profit before Tax (3 - 4) 1,427,011,499
6. Tax Expenses
(a) Current Tax Expense 531,270,000
(b)Deferred Tax -29,666,500
Total tax 501,603,500

Profit after tax before share of pft/loss of associate 925,407,999

Less: 1) share of loss in associate 67635113
Less: 2) share of unrealises profit on transaction
with associate 19960094
Profit for the year attributable to shareholders 837,812,792
Earnings per Share of Re 1 each:
(a) Basic 17.64
(b) Diluted 17.64

NOPAT
PAT 837,812,792
Adjust Exceptional items net of tax 0
Less Other income net of tax 13,065,012
Add finance cost net of tax 60,604,975
Net Operating profit after tax 885,352,756
Year Ended
Mar 31st , 2016
Rs.
5,458,166,796
198,166,178
5,656,332,974

2,142,435,750

-27,515,443
836,172,488
158,610,800
212,731,264
623,348,165
3,945,783,024

1,710,549,950 ###
0
1,710,549,950

609,400,000
-19,800,000
589,600,000

1,120,949,950
24,003,888

1,096,946,062
 23.09
23.09

1,096,946,062
0
129,600,680
103,731,463
1,071,076,845
STATEMENT OF PROFIT & LOSS -Kitex Garments

Year Ended
Mar 31st , 2017
Rs.
1. Revenue from Operations(Net) 5,459,013,150
2. Other Income 19,977,082
3. Total Revenue (1 +2) 5,478,990,232
4.Expenses :
(a) Cost of Materials Consumed 2,109,616,146
Changes in Inventories of Finished
Goods,Intermediaries and Work in Process -157,574,001
(c) Employee Benefit Expenses 918,285,778
(d) Finance Cost 92,668,158
(e) Depreciation & Amortization expenses 203,627,653
(f) Other Expenses 885,354,999
Total Expenses 4,051,978,733

Profit before exceptional items and tax 1,427,011,499

Exceptional items 0
5. Profit before Tax (3 - 4) 1,427,011,499
6. Tax Expenses
(a) Current Tax Expense 531,270,000
(b)Deferred Tax -29,666,500
Total tax 501,603,500

Profit after tax before share of pft/loss of associate 925,407,999

Less: 1) share of loss in associate 67635113
Less: 2) share of unrealises profit on transaction with
associate 19960094
Profit for the year attributable to shareholders 837,812,792
Earnings per Share of Re 1 each:
(a) Basic 17.64
(b) Diluted 17.64
Year Ended
Mar 31st , 2016
Rs.
5,458,166,796 0.02%
198,166,178 -89.92%
5,656,332,974 -3.14%

2,142,435,750 -1.53%

-27,515,443 472.67%
836,172,488 9.82%
158,610,800 -41.58%
212,731,264 -4.28%
623,348,165 42.03%
3,945,783,024 2.69%

1,710,549,950 -16.58%
0
1,710,549,950 -16.58%

609,400,000 -12.82%
-19,800,000 49.83%
589,600,000 -14.92%

1,120,949,950 -17.44%
24,003,888 181.77%

1,096,946,062 -23.62%
23.09 -23.60%
23.09 -23.60%
BALANCE SHEET of Kitex Garments

As at
March 31st,2017
Rs.
A. EQUITY & LIABILITIES:
1. Shareholders' Funds :
(a) Share Capital 47500000
(b) Reserves and Surplus 4397380414
Total 4444880414
2. Non-Current Liabilities:
(a)Long term borrowings 31428705
(b) Deferred Tax Liabilities (Net) 176398195
(c) Long-term Provisions 74158788
Total 281985688
3. Current Liabilities:
(a) Short-term Borrowings
(b) Trade Payables
Due to micro & Small enterprises 11153071
Other than micro & small 442349054
(c) Other Current Liabilities 92504068
(d) Short-term Provisions 160081730
Total 706087923
TOTAL 5432954025

B. ASSETS
1. Non-Current Assets :
(a)Fixed Assets
(i) Tangible Assets (PP&E) 1609517471
(ii) Intangible Assets 5395669
(iii) Capital Work-in-Progress 136778769
(iv) Intangible assets under development 19760547
 (b)Non-Current Investments 5454623
(c)Long-term Loans & Advances 106588102
(d)Other non current assets
Total 1883495181
2. Current Assets:
(a)Current Investments 0
(b) Inventories 404971707
(c) Trade Receivables 1311499004
(d) Cash & Bank Balances 1343955427
(e) Short Term Loans & Advances 40772395
(f) Other Current Assets 448260311
Total 3549458844
TOTAL 5432954025
 As at
March 31st,2016
Rs.

0.87429 47500000 0.8240546

80.93903 3602445034 62.497081
81.81333 3649945034 63.321136

0.57848 82928326 1.4386835

3.24682 206064695 3.574917
1.36498 45692937 0.7927047
5.19028 334685958 5.8063052

835248182 14.490318

0.20529 4355163 0.0755556

8.14196 411542963 7.1396603
1.70265 271757347 4.7145871
2.94650 256646605 4.4524381
12.99639 1779550260 30.872559
100 5764181252 100

29.62509 1728354999 29.98440

0.09931 1532980 0.02659
2.51758 1446971 0.02510
0.36372 10983017 0.19054
 0.10040 22149830 0.38427
1.96188 85538625 1.48397

34.66798 1850006422 32.09487

0
7.45399 130231927 2.25933
24.13970 960064467 16.65570
24.73710 2499127677 43.35616
0.75046 28898039 0.50134
8.25077 295852720 5.13261
65.33202 3914174830 67.90513
100 5764181252 100
 Profitability Ratios

Ratio Formula 2017-2016 2016-2015

A Return on Equity Profit After Tax 837,812,792.00 20.70% 1,096,946,062.00 34.89%

Total Shareholders Funds 4,047,412,724.00 3,144,349,415.50

B Profit After Tax 837,812,792.00 15.35% 1,096,946,062.00 20.10%

Net Profit Margin (%) or Return On Sales
Sales 5,459,013,150.00 5,458,166,796.00

C Operating Profit Margin (%) NOPAT 885,352,755.70 16.22% 1,071,076,844.79 19.62%

Sales 5,459,013,150.00 5,458,166,796.00

D Return on Assets Profit After Tax 837,812,792.00 14.96% 1,096,946,062.00 19.73%

Average Total Assets 5,598,567,638.50 5,558,514,313.00

Profit margin Profit After Tax 837,812,792.00 15.35% 1,096,946,062.00 20.10%

Sales 5,459,013,150.00 5,458,166,796.00

Asset Turnover Ratio Sales 5,459,013,150.00 0.975 5,458,166,796.00 0.982

Average Total Assets 5,598,567,638.50 5,558,514,313.00

* Profit excluding exceptional items 14.96% 19.73%

Also refer NOPAT sheet

Extended Dupont Analysis

Return on Equity Profit After Tax 837,812,792.00 20.70% 1,096,946,062.00 34.89%
Average Total Equity 4,047,412,724.00 3,144,349,415.50

Profit margin Profit After Tax 837,812,792.00 15.35% 1,096,946,062.00 20.10%

Sales 5,459,013,150.00 5,458,166,796.00

Asset Turnover Ratio Sales 5,459,013,150.00 0.98 5,458,166,796.00 0.98

Average Total Assets 5,598,567,638.50 5,558,514,313.00

Leverage Average Total Assets 1.00 1.00

Average Total Equity
 Liquidity Ratios

Ratio Formula 2016-2017 2016-2015

A Current Ratio Total Current Assets 3,549,458,844.00 5.03 3,914,174,830.00 2.20

Total Current Liabilities 706,087,923.00 1,779,550,260.00

B Quick Test Ratio Current Assets- Inventory 3,144,487,137.00 4.45 3,783,942,903.00 2.13
Current Liabilites 706,087,923.00 1,779,550,260.00

C Inventory Turnover Ratio COGS 1,952,042,145.00 7.29 2,114,920,307.00 17.46

Average Inventory 267,601,817.00 121,133,188.50

D Inventory Holding Period No of days in a year 365 50.04 365 20.91

Inventory Turnover Ratio 7.29 17.46

E Receivables Turnover Ratio Sales Turnover 5,459,013,150.00 4.81 5,458,166,796.00 6.88

Average Receivable 1,135,781,735.50 793,331,560.00

F Receivables Collection Peri No of days in a year 365 75.94 365 53.05

Receivables Turnover Ratio 4.81 6.88
 Solvency Ratios

Ratio Formula 2016-2017 2016-2015

A Debt to equity ratio Total Borrowings 31,428,705.00 0.01 918,176,508.00 0.29

Sharholders' Funds 4,047,412,724.00 3,144,349,415.50

B Liabilities to Equity Ratio Total Liabilities. 988,073,611.00 0.24 2,114,236,218.00 0.67

Sharholders' Funds 4,047,412,724.00 3,144,349,415.50

C Leverage Total Assets 5,432,954,025.00 1.34 5,764,181,252.00 1.83

Total Equity 4,047,412,724.00 3,144,349,415.50

D Interest Coverage Ratio PBIT+ Interest Expense 1,612,347,815.00 17.40 2,027,771,550.00 12.78
Interest Expense 92,668,158.00 158,610,800.00

-
 Capital Market Ratios

Ratio Formula 2016-2017 2015-2016

A Earnings Per Share

(a) Basic 17.64 23.09
(b) Diluted 17.64 23.09

C Price Earnings Ratio Market Price 305.14 17.30 310.89 13.46

Earnings Per Share 17.64 23.09

D Dividend Yield Ratio Dividend per Share 0.75 0.25% 0.75 0.24%
Market Price 305.14 310.89

E Price to Book Ratio Market Price 305.14 3.58 310.89 4.70

Book value of one share 85.21 66.20

F Book value of one share Net worth 4,047,412,724.00 85.21 3,144,349,415.50 66.20
Number of shares 47,500,000.00 47,500,000.00

Return in last one year

Return %
 Base Year
0 1 2 3 4 5
Particulars 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17
Income
Sales 31,199.88 31,698.33 44,221.00 51,109.59 54,581.67 54,590.13
Other Income 634.82 402.51 1,334.36 1,342.34 1,981.66 199.77
Total 31,834.69 32,100.85 45,555.36 52,451.94 56,563.33 54,789.90

Expenditure
Cost of Raw Materials Consumed 17,491.24 16,126.71 23,477.44 20,978.53 20,976.48 21,096.16
Changes in inventories of finished goods,
work-in-progress and Stock-in-Trade -265.83 389.11 118.23 -21.54 29.72 -1,575.74
Employees Benefits Expense 3,780.74 4,376.44 5,697.16 7,450.07 8,361.72 9,182.86
Finance Costs' 1,760.69 1,147.20 1,061.59 1,916.41 1,375.67 926.68
Depreciation and amortization expense 686.64 862.13 968 2,132.94 2,127.31 2,036.28
Other Expenses 4,370.40 4,795.17 5,414.40 5,828.78 6,586.93 8,853.55
Total 27,823.88 27,696.76 36,736.83 38,285.19 39,457.83 40,519.79
PBT 4,010.82 4,404.08 8,818.53 14,166.75 17,105.50 14,270.11
Current Tax 1,235.00 1,485.00 2,536.00 4,217.00 6,094.00 5,312.70
Deferred Tax 64.26 -18.6 545.65 98 -198 -296.67
PAT 2,711.56 2,937.68 5,736.88 9,851.75 11,209.50 9,254.08
Capital 475 475 475 475 475 475
Earnings per equity share 5.71 6.18 12.08 20.74 23.6 19.48
Year 1 2 3 4 5 6
Year 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17
Income
Changes
in
Sales 1 1.015976 1.417345 1.638134 1.749419 1.74969
inventorie
Other
s of Inc 1 0.634054 2.10195 2.114521 3.121609 0.314688
Total
finished 1 1.008361 1.430997 1.647635 1.776783 1.721075 Trends
goods,
work-in- 4.5
Expenditure
progress 4
and
Cost of Ra 1 0.921988 1.34224 1.199374 1.199256
3.5
1.206099
Stock-in-
Trade 1 -1.46376 -0.44476 0.081029 -0.1118
3 5.927623
Employees 1 1.157562 1.50689 1.970532 2.211662 2.428853
2.5
Finance Co 1 0.651563 0.60294 1.088443 0.781324
2 0.526316
Depreciati 1 1.255578 1.409763 3.106344 3.098145
1.5 2.965571
Other Expe 1 1.097192 1.23888 1.333695 1.507169
1 2.025799
Total 1 0.995431 1.320335 1.375983 1.418128
0.5 1.456295
PBT 1 1.09805 2.198685 3.532133 4.264839
0 3.557903
0 1 2 3 4 5 6
Current Ta 1 1.202429 2.053441 3.414575 4.934413 4.301781
Sa l es CORM PBT PAT
Deferred T 1 -0.28945 8.491285 1.525054 -3.08123 -4.61671
PAT 1 1.083391 2.115712 3.633241 4.133967 3.412825
Capital 1 1 1 1 1 1
Earnings p 1 1.082312 2.115587 3.632224 4.1331 3.411559
ends

4 5 6 7
RM PBT PAT