2010 2009 2008

Sales-net 3,629,038,418 3,395,580,759 1,371,791,931

COGS 3,341,872,196 2,591,021,469 1,284,390,080
GP 350,166,222 804,559,290 87,401,851
Selling and distribution expense 56,245,683 111,490,601 24,878,363
admistrative and genral expense 35,943,591 30,094,507 40,894,043
92,189,274 141,585,108 65,772,406
Operating profit 257,976,948 662,974,182 21,629,445
other operating expenses 4,835,758 3,291,944 20,958,970
253,141,190 659,682,238 670,475
other operating income 23,210,906 34,218,809 35,978,496
276,352,096 693,901,047 36,648,971
Finance cost 658,589,707 549,902,638 48,935,320
loss on derivatives financial instruments - 122,813,948 -
loss/profit before taxation (382,237,611) 21,184,461 (279,572,750)
taxation (54,460,469) (5,908,237) (57,133,384)
loss/profit after taxation (327,777,142) 27,092,698 (222,439,366)
loss/earning per share (2.55) 0.21 -1.73
 2007 2006 2005 2004 2003 2002
1,553,733,256 2,327,237,579 1,715,426,515 1,397,871,078 835,607,451 1,021,861,290
1,210,466,340 1,127,575,661 1,051,203,519 902,333,594 693,787,373 689,815,805
343,266,916 1,199,661,918 664,222,996 495,537,484 141,820,078 332,045,485
18,701,815 15,533,247 12,509,368 11,839,810 9,990,624 10,780,737
46,338,529 38,279,574 33,326,619 32,771,011 37,185,202 17,329,717
65,040,344 53,812,821 45,835,987 44,610,821 47,175,826 28,110,454
278,226,572 1,145,849,097 618,387,009 450,926,663 94,644,252 303,935,031
7,640,715 71,433,971 43,354,848 35,722,154
270,585,857 1,074,415,126 575,032,161 415,204,509 94,644,252 303,935,031
75,624,748 19,106,540 9,129,239 4,444,478 1,379,038 1,442,543
346,210,605 1,093,521,666 584,161,400 419,648,987 96,023,290 305,377,574
18,370,018 54,097,507 23,212,275 24,374,892 21,457,746 56,198,175

327,840,587 1,039,424,159 560,949,125 395,274,095 74,565,544 249,179,399

79,472,319 249,557,198 (174,447,785) (102,616,840) 19,360,210 98,612,894
248,368,268 789,866,961 386,501,340 292,657,255 55,205,334 150,566,505
2.12 7.76 4.50 5.93 2.52 6.86
 2001
732,825,249
590,884,795
141,940,454

26,465,728
115,474,726

115,474,726
3,305,734
118,780,460
55,810,692

58,280,940
(35,664,126)
22,616,814
1.03
 2010 2009
Equity & liability
authorised shares 1,500,000,000 1,500,000,000
paid up capital 1,287,572,410 1,287,572,410
reserves 51,278,714 34,078,866
accumulated profit 622,118,747 949,895,889
1,960,969,871 2,271,547,165
Non current liabilities
long term finances- secured 3,049,320,000 2,989,387,373
liabilities against asset subject to finance lease secured - 2,040,128
long term security deposits and retention money 155,923,337 154,209,127
defferd liabilities 62,669,613 101,197,782
derivatives fianancial liabilities 202,024,046 160,120,433
3,469,936,996 3,406,954,843
Current liabilities
trade and other payables 734,312,487 554,458,612
interest and markup accured 504,895,065 312,801,576
short term borrowings- secured 1,406,895,065 1,398,198,921
current portion of noncurrent liabilities 596,370,138 680,933,125
provision for taxation
- 3,242,472,939 2,946,392,234
total liabilities 6,712,409,935 6,353,347,077
contingencies and commitments
total liabilities and she 8,673,379,806 8,624,894,242

Non current assets

Property plant and equipment
operating fixed assets 6,368,030,446 6,352,852,944
capital work in progress 861,363,339 584,965,206
7,229,393,785 6,937,818,150
intangible assets 2,587,653 2,689,912
longterm loans and advances 28,832,286 33,313,347
longterm deposits 5,397,440 5,397,440
7,266,211,164 6,979,218,849
Current assets
stores,spares and loose tools 638,000,427 841,844,312
stock in trade 290,433,057 139,293,693
trade debts 20,010,133 17,792,165
advances,deposits,prepayments and other receivables 430,703,292 612,373,810
cash and bank balance 28,021,733 34,371,413
- 1,407,168,642 1,645,675,393
total assets 8,673,379,806 8,624,894,242
 2008 2007 2006 2005 2004 2003

1,500,000,000 1,500,000,000 1,500,000,000 1,000,000,000 500,000,000 500,000,000

1,170,520,370 1,017,843,800 925,312,540 493,500,020 329,000,010 219,333,340
235,805,586 396,306,773 389,397,905 162,120,028 162,120,028 162,120,028
922,803,191 1,145,242,557 969,229,248 426,112,297 204,110,962 104,517,405
2,329,129,147 2,559,393,130 2,283,939,693 1,081,732,345 695,231,000 485,970,773

2,981,785,715 2,703,308,354 237,500,000 61,648,330 133,048,330

3,686,712 - 2,358,098 35,461,448 56,282,172 4,006,641
135,837,621 106,808,320 5,451,100 2,132,500 1,846,056 2,354,850
155,732,831 228,068,951 161,267,836 104,240,120 105,589,559 111,828,496
1,250,573
3,278,293,452 3,038,185,625 406,577,034 223,482,398 296,766,117 118,189,987

243,214,560 178,982,959 215,249,060 149,394,418 139,925,047 91,779,565

50,719,344 12,260,606 1,973,686 1,655,264 1,414,512
1,096,066,075 146,434,421 57,397,506 52,582,288 58,477,626 10,922,808
625,022,321 218,120,218 44,148,330 53,800,000 41,300,000 11,995,445
32,760,357 58,943,432 12,144,144 53,228,442
2,016,497,901 555,798,204 385,593,723 346,672,684 282,012,877 212,638,981
5,294,791,353 3,593,983,829 792,170,757 570,155,082 578,778,994 330,828,968

7,623,920,500 6,153,376,959 3,076,110,450 1,651,887,427 1,274,009,994 816,799,741

941,431,201 1,023,528,041 1,095,105,981 581,007,037 603,032,810 606,457,856

5,307,288,753 4,495,377,648 984,287,376 538,873,395 178,169,534 2,285,462
6,248,719,954 5,518,905,689 2,079,393,357 1,119,880,432 124,267,150 608,743,318
-
38,142,100 45,731,201 49,565,634 4,639,073 2,493,180 2,602,598
4,429,440 3,879,440 4,969,240 16,143,890 14,952,130 977,030
6,291,291,494 5,568,516,330 2,133,928,231 1,140,663,395 18,992,499 3,579,628

699,954,682 185,856,546 117,594,905 86,217,074 87,617,242 88,309,024

174,317,806 125,147,740 87,869,995 22,336,658 15,100,336 18,977,696
15,341,081 21,381,453 21,642,079 23,799,056 25,986,269 13,148,085
406,020,470 120,072,947 51,589,010 89,805,108 52,744,640 34,200,990
36,994,967 132,401,943 656,886,230 289,066,136 168,099,514 49,841,000
1,332,629,006 584,860,629 942,182,219 511,224,032 349,548,001 204,476,795
7,623,952,500 6,153,376,959 3,076,110,450 1,651,887,427 1,274,009,994 816,799,741
 2002 2001

500,000,000 500,000,000
219,333,340 219,333,340
162,120,028 162,120,028
93,178,739 2,928,902
474,632,107 384,382,270

16,954,098
15,057,509 118,220,157
2,806,160 4,420,000
116,594,780 44,124,993

134,458,449 183,719,248

89,420,083 81,340,902

69,321,124 98,750,293
33,756,486 154,188,070
28,845,466 14,546,815
265,884,920 392,923,121
400,343,369 576,642,369

874,975,476 961,024,639

659,797,694 714,765,683
2,100,706
661,898,400 714,765,683

2,716,546 1,428,611
926,030 22,325,311
3,642,576 23,753,922

51,434,353 56,342,730
50,515,942 50,964,743
28,921,924 43,461,019
35,195,185 38,324,163
43,367,096 33,412,379
209,434,500 222,505,034
874,975,476 961,024,639
 2010 2009 2008 2007 2006 2005 2004 2003
current ratio 0.43398 0.558539 0.660863 1.05229 2.443458 1.474659 1.239475 0.961615
Current Ratio 0.62 0.59 1.08 1.17 1.02 0.96 1.18 1.16
quick ratio 0.344409 0.511263 0.574417 0.827122 2.215576 1.410228 1.18593 0.872366
Quick Ratio 0.54 0.50 0.99 1.07 0.89 0.86 0.96 0.98
avg. collection per 2.012571 1.912527 4.081883 5.022889 3.394307 5.063846 6.78531 5.743188
Recievable turnover in days 7.96 8.73 12.00 6.58 3.98 6.40 6.74 7.62
days inv held 31.72116 19.62245 49.53791 37.73663 28.44381 7.755758 6.108187 9.984124
Inventory Turnover(in days) 18.12 24.03 25.95 26.43 18.76 17.37 27.39 28.31
payable days 80.20177 78.10719 69.1171 53.96993 69.67684 51.87289 56.60062 48.28503
No. of days in Payables 72.66 56.70 61.85 66.74 84.21 83.08 63.41 52.94
receivable t.o 181.36 190.847 89.41951 72.66734 107.533 72.0796 53.79268 63.55355
RTO 68.95 75.44 65.03 104.25 135.37 161.48 99.07 110.50
inv t.o 11.50651 18.60114 7.368095 9.672299 12.83232 47.06181 59.75586 36.55804
Inventory Turnover 21.47 17.19 21.96 14.04 19.46 25.15 16.85 15.83
payable t.o 4.551022 4.673066 5.280893 6.763026 5.23847 7.036431 6.448692 7.559279

tato 0.418411 0.393695 0.179932 0.252501 0.756552 1.038465 1.097221 1.023026

Total asset Turnover 0.49 0.58 0.40 0.37 0.37 0.44 0.49 0.40
fato 0.501984 0.489431 0.219532 0.281529 1.119191 1.531794 11.24892 1.372676
Fixed Asset Turnover 0.75 0.87 0.59 0.52 0.64 0.66 0.77 0.62

gp margin 10% 24% 6% 22% 52% 39% 35% 17%

Gross Margins 0.16 0.32 0.18 0.25 0.47 0.38 0.35 0.20
op margin 7% 20% 2% 18% 49% 36% 32% 11%
Operating Margins 0.04 0.20 0.08 0.18 0.42 0.33 0.31 0.13
net margin -9% 1% -16% 16% 34% 23% 21% 7%
Net Profit Margins -0.03 0.08 0.02 0.11 0.28 0.25 0.20 0.10
roa -4% 0% -3% 4% 26% 23% 23% 7%
ROA 0.01 0.08 0.02 0.05 0.13 0.12 0.11 0.04
roe -17% 1% -10% 10% 35% 36% 42% 11%
ROE -0.15 0.11 0.01 0.08 0.33 0.28 0.29 -0.11

debt ratio 77% 74% 69% 58% 26% 35% 45% 41%
Debt to Asset Ratio 10.90 9.61 4.71 7.41 9.89 10.53 9.10 12.87
ltd to total cap 64% 60% 58% 54% 15% 17% 30% 20%
Long-term to Capitalization Ra 9.54 6.87 0.95 3.57 6.51 8.81 11.13 12.39
debt to equity 342% 280% 227% 140% 35% 53% 83% 68%
Debt to Equity Ratio 2.68 2.35 2.19 2.19 2.27 1.54 2.04 6.55
times interest earn 0.3917 1.2056 0.4420 15.1457 21.1812 26.6405 18.4996 4.4107
Times Interest Earned 4.53 4.89 1.72 3.92 6.35 17.89 12.43 3.95
 2002 2001
0.787689 0.566281
1.02 0.56
0.597697 0.436575
0.85 0.43
10.33066 21.64673
9.71 11.88
26.72934 31.48182
33.79 29.35
47.31456 50.24572
80.76 52.24
35.33172 16.86167
50.42 35.86
13.65541 11.59399
11.20 23.52
7.714327 7.264301

1.167874 0.762546
0.42 0.43
1.543834 1.025266
0.59 0.61

32% 19%
0.29 0.13
30% 16%
0.23 0.09
15% 3%
0.08 0.18
17% 2%
0.05 0.07
32% 6%
0.09 1.47

46% 60%
11.94 13.79
22% 32%
11.39 17.97
84% 150%
3.43 6.98
5.4083 2.0690
2.54 0.96
 common size income statement
2010 2009 2008 2007 2006 2005 2004
Sales-net 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
COGS 0.92087 0.763057 0.936286 0.77907 0.484512 0.612794 0.645506
GP 9.65% 23.69% 6.37% 22.09% 51.55% 38.72% 35.45%
Selling and distribution expense 0.015499 0.032834 0.018136 0.012037 0.006675 0.007292 0.00847
admistrative and genral expense 0.99% 0.89% 2.98% 2.98% 1.64% 1.94% 2.34%
0.025403 0.041697 0.047946 0.041861 0.023123 0.02672 0.031913
Operating profit 7.11% 19.52% 1.58% 17.91% 49.24% 36.05% 32.26%
other operating expenses 0.001333 0.000969 0.015279 0.004918 0.030695 0.025274 0.025555
6.98% 19.43% 0.05% 17.42% 46.17% 33.52% 29.70%
other operating income 0.006396 0.010077 0.026227 0.048673 0.00821 0.005322 0.003179
7.62% 20.44% 2.67% 22.28% 46.99% 34.05% 30.02%
Finance cost 0.181478 0.161947 0.035673 0.011823 0.023245 0.013531 0.017437
loss on derivatives financial instrum 0.00% 3.62% 0.00% 0.00% 0.00% 0.00% 0.00%
loss/profit before taxation -0.105328 0.006239 -0.2038 0.211002 0.446634 0.327003 0.282769
taxation -1.50% -0.17% -4.16% 5.11% 10.72% -10.17% -7.34%
loss/profit after taxation -0.090321 0.007979 -0.16215 0.159853 0.339401 0.225309 0.209359

common size balance sheet

2010 2009 2008 2007 2006 2005 2004

equity & liability
authorised shares 0.172943 0.173915 0.196748 0.243769 0.487629 0.605368 0.392462
paid up capital 14.85% 14.93% 15.35% 16.54% 30.08% 29.87% 25.82%
reserves 0.005912 0.003951 0.03093 0.064405 0.126588 0.098142 0.127252
accumulated profit 7.17% 11.01% 12.10% 18.61% 31.51% 25.80% 16.02%
0.226091 0.263371 0.305502 0.415933 0.742476 0.654846 0.545703
non current liabilities
long term finances- secured 0.351572 0.3466 0.391108 0.439321 0.077208 0.03732 0.104433
liabilities against asset subject to
finance lease secured 0.02% 0.05% 0.08% 2.15% 4.42%
long term security deposits and
retention money 0.017977 0.01788 0.017817 0.017358 0.001772 0.001291 0.001449
defferd liabilities 0.72% 1.17% 2.04% 3.71% 5.24% 6.31% 8.29%
derivatives fianancial liabilities 0.023292 0.018565 0.000164 0 0 0 0
40.01% 39.50% 43.00% 49.37% 13.22% 13.53% 23.29%
Current liabilities
trade and other payables 0.084663 0.064286 0.031901 0.029087 0.069974 0.090439 0.10983
interest and markup accured 5.82% 3.63% 0.67% 0.20% 0.06% 0.10% 0.11%
short term borrowings- secured 0.162208 0.162112 0.143766 0.023797 0.018659 0.031832 0.0459
current portion of noncurrent
liabilities 6.88% 7.89% 8.20% 3.54% 1.44% 3.26% 3.24%
provision for taxation 0 0 0 0 0.01065 0.035682 0.009532
- 37.38% 34.16% 26.45% 9.03% 12.54% 20.99% 22.14%
total liabilities 77.39% 73.66% 69.45% 58.41% 25.75% 34.52% 45.43%

contingencies and commitments

total liabilities and she 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

non current assets

property plant and equipment
operating fixed assets 0.734204 0.736572 0.123483 0.166336 0.356003 0.351723 0.473334
capital work in progress 9.93% 6.78% 69.61% 73.06% 32.00% 32.62% 13.98%
83.35% 80.44% 81.96% 89.69% 67.60% 67.79% 9.75%
intangible assets 0.000298 0.000312 0 0 0 0 0
longterm loans and advances 0.33% 0.39% 0.50% 0.74% 1.61% 0.28% 0.20%
longterm deposits 0.000622 0.000626 0.000581 0.00063 0.001615 0.009773 0.011736
83.78% 80.92% 82.52% 90.50% 69.37% 69.05% 1.49%
current assets
stores,spares and loose tools 0.073558 0.097606 0.09181 0.030204 0.038228 0.052193 0.068773
stock in trade 3.35% 1.62% 2.29% 2.03% 2.86% 1.35% 1.19%
trade debts 0.002307 0.002063 0.002012 0.003475 0.007036 0.014407 0.020397
advances,deposits,prepayments
and other receivables 4.97% 7.10% 5.33% 1.95% 1.68% 5.44% 4.14%
cash and bank balance 0.003231 0.003985 0.004852 0.021517 0.213544 0.174991 0.131945
- 16.22% 19.08% 17.48% 9.50% 30.63% 30.95% 27.44%
total assets 1 1 1 1 1 1 1
 2003 2002 2001
100.00% 100.00% 100.00%
0.830279 0.675058 0.806311
16.97% 32.49% 19.37%
0.011956 0.01055 0
4.45% 1.70% 0.00%
0.056457 0.027509 0.036115
11.33% 29.74% 15.76%
0 0 0
11.33% 29.74% 15.76%
0.00165 0.001412 0.004511
11.49% 29.88% 16.21%
0.025679 0.054996 0.076158
0.00% 0.00% 0.00%
0.089235 0.243849 0.079529
2.32% 9.65% -4.87%
0.066066 0.147345 0.030862

2003 2002 2001

0.612145 0.571445 0.520278

26.85% 25.07% 22.82%
0.198482 0.185285 0.168695
12.80% 10.65% 0.30%
0.594969 0.542452 0.399971

0 0 0.017642

0.49% 1.72% 12.30%

0.002883 0.003207 0.004599

13.69% 13.33% 4.59%
0 0 0
14.47% 15.37% 19.12%

0.112365 0.102197 0.08464

0.00% 0.00% 0.00%
0.013373 0.079226 0.102755

1.47% 3.86% 16.04%

0.065167 0.032967 0.015137
26.03% 30.39% 40.89%
40.50% 45.75% 60.00%

100.00% 100.00% 100.00%

0.74248 0.754076 0.743754

0.28% 0.24% 0.00%
74.53% 75.65% 74.38%
0 0 0
0.32% 0.31% 0.15%
0.001196 0.001058 0.023231
0.44% 0.42% 2.47%

0.108116 0.058784 0.058628

2.32% 5.77% 5.30%
0.016097 0.033055 0.045224

4.19% 4.02% 3.99%

0.06102 0.049564 0.034767
25.03% 23.94% 23.15%
1 1 1
 2010 2009 2008 2007 2006 2005 2004 2003
Sales-net 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
COGS 92.1% 76.3% 93.6% 77.9% 48.5% 61.3% 64.6% 83.0%
GP 9.6% 23.7% 6.4% 22.1% 51.5% 38.7% 35.4% 17.0%

Selling and distribution expense 1.5% 3.3% 1.8% 1.2% 0.7% 0.7% 0.8% 1.2%

admistrative and genral expense 1.0% 0.9% 3.0% 3.0% 1.6% 1.9% 2.3% 4.5%
2.5% 4.2% 4.8% 4.2% 2.3% 2.7% 3.2% 5.6%
Operating profit 7.1% 19.5% 1.6% 17.9% 49.2% 36.0% 32.3% 11.3%
other operating expenses 0.1% 0.1% 1.5% 0.5% 3.1% 2.5% 2.6% 0.0%
7.0% 19.4% 0.0% 17.4% 46.2% 33.5% 29.7% 11.3%
other operating income 0.6% 1.0% 2.6% 4.9% 0.8% 0.5% 0.3% 0.2%
7.6% 20.4% 2.7% 22.3% 47.0% 34.1% 30.0% 11.5%
Finance cost 18.1% 16.2% 3.6% 1.2% 2.3% 1.4% 1.7% 2.6%
loss on derivatives financial
instruments 0.0% 3.6% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
loss/profit before taxation -10.5% 0.6% -20.4% 21.1% 44.7% 32.7% 28.3% 8.9%
taxation -1.5% -0.2% -4.2% 5.1% 10.7% -10.2% -7.3% 2.3%
loss/profit after taxation -9.0% 0.8% -16.2% 16.0% 33.9% 22.5% 20.9% 6.6%

2010 2009 2008 2007 2006 2005 2004 2003

equity & liability
authorised shares 0.17294 0.17392 0.19675 0.24377 0.48763 0.60537 0.39246 0.61215
paid up capital 14.85% 14.93% 15.35% 16.54% 30.08% 29.87% 25.82% 26.85%
reserves 0.00591 0.00395 0.03093 0.0644 0.12659 0.09814 0.12725 0.19848
accumulated profit 7.17% 11.01% 12.10% 18.61% 31.51% 25.80% 16.02% 12.80%
0.22609 0.26337 0.3055 0.41593 0.74248 0.65485 0.5457 0.59497
non current liabilities
long term finances- secured 0.35157 0.3466 0.39111 0.43932 0.07721 0.03732 0.10443 0

liabilities against asset subject to

finance lease secured 0.02% 0.05% 0.08% 2.15% 4.42% 0.49%
long term security deposits and
retention money 0.01798 0.01788 0.01782 0.01736 0.00177 0.00129 0.00145 0.00288
defferd liabilities 0.72% 1.17% 2.04% 3.71% 5.24% 6.31% 8.29% 13.69%

derivatives fianancial liabilities 0.02329 0.01856 0.00016 0 0 0 0 0

40.01% 39.50% 43.00% 49.37% 13.22% 13.53% 23.29% 14.47%
Current liabilities
trade and other payables 0.08466 0.06429 0.0319 0.02909 0.06997 0.09044 0.10983 0.11236
interest and markup accured 5.82% 3.63% 0.67% 0.20% 0.06% 0.10% 0.11% 0.00%

short term borrowings- secured 0.16221 0.16211 0.14377 0.0238 0.01866 0.03183 0.0459 0.01337
current portion of noncurrent
liabilities 6.88% 7.89% 8.20% 3.54% 1.44% 3.26% 3.24% 1.47%
provision for taxation 0 0 0 0 0.01065 0.03568 0.00953 0.06517
- 37.38% 34.16% 26.45% 9.03% 12.54% 20.99% 22.14% 26.03%
total liabilities 77.39% 73.66% 69.45% 58.41% 25.75% 34.52% 45.43% 40.50%

contingencies and commitments

total liabilities and she 100% 100% 100% 100% 100% 100% 100% 100%

non current assets

property plant and equipment

operating fixed assets
capital work in progress
intangible assets
longterm loans and advances
longterm deposits
current assets
stores,spares and loose tools
stock in trade
trade debts
advances,deposits,prepayments
and other receivables
cash and bank balance
- 16.22% 19.08% 17.48% 9.50% 30.63% 30.95% 27.44% 25.03%
total assets
0.7342 0.73657 0.12348 0.16634 0.356 0.35172 0.47333 0.74248
9.93% 6.78% 69.61% 73.06% 32.00% 32.62% 13.98% 0.28%
83.35% 80.44% 81.96% 89.69% 67.60% 67.79% 9.75% 74.53%
0.0003 0.00031 0 0 0 0 0 0
0.33% 0.39% 0.50% 0.74% 1.61% 0.28% 0.20% 0.32%
0.00062 0.00063 0.00058 0.00063 0.00162 0.00977 0.01174 0.0012
83.78% 80.92% 82.52% 90.50% 69.37% 69.05% 1.49% 0.44%
0.07356 0.09761 0.09181 0.0302 0.03823 0.05219 0.06877 0.10812
3.35% 1.62% 2.29% 2.03% 2.86% 1.35% 1.19% 2.32%
0.00231 0.00206 0.00201 0.00347 0.00704 0.01441 0.0204 0.0161
4.97% 7.10% 5.33% 1.95% 1.68% 5.44% 4.14% 4.19%
0.00323 0.00399 0.00485 0.02152 0.21354 0.17499 0.13195 0.06102
1 1 1 1 1 1 1 1
 2002 2001
100.0% 100.0%
67.5% 80.6%
32.5% 19.4%

1.1% 0.0%

1.7% 0.0%
2.8% 3.6%
29.7% 15.8%
0.0% 0.0%
29.7% 15.8%
0.1% 0.5%
29.9% 16.2%
5.5% 7.6%

0.0% 0.0%
24.4% 8.0%
9.7% -4.9%
14.7% 3.1%

2002 2001

0.57144 0.52028
25.07% 22.82%
0.18529 0.16869
10.65% 0.30%
0.54245 0.39997

0 0.01764

1.72% 12.30%

0.00321 0.0046
13.33% 4.59%

0 0
15.37% 19.12%

0.1022 0.08464
0.00% 0.00%

0.07923 0.10276
 3.86% 16.04%
0.03297 0.01514
30.39% 40.89%
45.75% 60.00%

100% 100%

0.75408 0.74375
0.24% 0.00%
75.65% 74.38%
0 0
0.31% 0.15%
0.00106 0.02323
0.42% 2.47%

0.05878 0.05863
5.77% 5.30%
0.03305 0.04522

4.02% 3.99%
0.04956 0.03477
23.94% 23.15%
1 1
 2010 2009 2008 2007 2006 2005 2004 2003 2002
Current Ratio 0.62 0.59 1.08 1.17 1.02 0.96 1.18 1.16 1.02
Quick Ratio 0.54 0.50 0.99 1.07 0.89 0.86 0.96 0.98 0.85
Recievable turnover in
days 7.96 8.73 12.00 6.58 3.98 6.40 6.74 7.62 9.71
Inventory Turnover(in
days) 18.12 24.03 25.95 26.43 18.76 17.37 27.39 28.31 33.79

No. of days in Payables 72.66 56.70 61.85 66.74 84.21 83.08 63.41 52.94 80.76
RTO 68.95 75.44 65.03 104.25 135.37 161.48 99.07 110.50 50.42
Inventory Turnover 21.47 17.19 21.96 14.04 19.46 25.15 16.85 15.83 11.20
Total asset Turnover 0.49 0.58 0.40 0.37 0.37 0.44 0.49 0.40 0.42
Fixed Asset Turnover 0.75 0.87 0.59 0.52 0.64 0.66 0.77 0.62 0.59
Gross Margins 0.16 0.32 0.18 0.25 0.47 0.38 0.35 0.20 0.29
Operating Margins 0.04 0.20 0.08 0.18 0.42 0.33 0.31 0.13 0.23
Net Profit Margins -0.03 0.08 0.02 0.11 0.28 0.25 0.20 0.10 0.08
ROA 0.01 0.08 0.02 0.05 0.13 0.12 0.11 0.04 0.05
ROE -0.15 0.11 0.01 0.08 0.33 0.28 0.29 -0.11 0.09
Debt to Asset Ratio 10.90 9.61 4.71 7.41 9.89 10.53 9.10 12.87 11.94
Long-term to
Capitalization Ratio 9.54 6.87 0.95 3.57 6.51 8.81 11.13 12.39 11.39
Debt to Equity Ratio 2.68 2.35 2.19 2.19 2.27 1.54 2.04 6.55 3.43

Times Interest Earned 4.53 4.89 1.72 3.92 6.35 17.89 12.43 3.95 2.54

2010 2009 2008 2007 2006 2005 2004 2003 2002

Current ratio 0.43 0.56 0.66 1.05 2.44 1.47 1.24 0.96 0.79
Quick ratio 0.34 0.51 0.57 0.83 2.22 1.41 1.19 0.87 0.60
Avg. collection per 2.01 1.91 4.08 5.02 3.39 5.06 6.79 5.74 10.33
Days inv held 31.72 19.62 49.54 37.74 28.44 7.76 6.11 9.98 26.73
Payable days 80.20 78.11 69.12 53.97 69.68 51.87 56.60 48.29 47.31
Receivable t.o 181.36 190.85 89.42 72.67 107.53 72.08 53.79 63.55 35.33
Inv t.o 11.51 18.60 7.37 9.67 12.83 47.06 59.76 36.56 13.66
Payable t.o 4.55 4.67 5.28 6.76 5.24 7.04 6.45 7.56 7.71

Tato 0.42 0.39 0.18 0.25 0.76 1.04 1.10 1.02 1.17
Fato 0.50 0.49 0.22 0.28 1.12 1.53 11.25 1.37 1.54

Gp margin 0.10 0.24 0.06 0.22 0.52 0.39 0.35 0.17 0.32
Op margin 0.07 0.20 0.02 0.18 0.49 0.36 0.32 0.11 0.30
Net margin -0.09 0.01 -0.16 0.16 0.34 0.23 0.21 0.07 0.15
ROA -0.04 0.00 -0.03 0.04 0.26 0.23 0.23 0.07 0.17
ROE -0.17 0.01 -0.10 0.10 0.35 0.36 0.42 0.11 0.32

Debt ratio 0.77 0.74 0.69 0.58 0.26 0.35 0.45 0.41 0.46
Long-term to total
capitalization ratio 0.64 0.60 0.58 0.54 0.15 0.17 0.30 0.20 0.22
Debt to equity 3.42 2.80 2.27 1.40 0.35 0.53 0.83 0.68 0.84
Times interest earn 0.39 1.21 0.44 15.15 21.18 26.64 18.50 4.41 5.41
2001
0.56
0.43

11.88

29.35

52.24
35.86
23.52
0.43
0.61
0.13
0.09
0.18
0.07
1.47
13.79

17.97
6.98

0.96

2001
0.57
0.44
21.65
31.48
50.25
16.86
11.59
7.26

0.76
1.03

0.19
0.16
0.03
0.02
0.06

0.60
0.32
1.50
2.07
 2010 2009 2008 2007 2006 2005 2004 2003

Gp margin 10% 24% 6% 22% 52% 39% 35% 17%

Op margin 7% 20% 2% 18% 49% 36% 32% 11%

Net margin -9% 1% -16% 16% 34% 23% 21% 7%

ROA -4% 0% -3% 4% 26% 23% 23% 7%

ROE -17% 1% -10% 10% 35% 36% 42% 11%

2010 2009 2008 2007 2006 2005 2004 2003

Debt ratio 0.77 0.74 0.69 0.58 0.26 0.35 0.45 0.41

Debt to equity 3.42 2.80 2.27 1.40 0.35 0.53 0.83 0.68
Long-term to total
capitalization ratio 0.64 0.60 0.58 0.54 0.15 0.17 0.30 0.20

2010 2009 2008 2007 2006 2005 2004 2003

Times interest earn 0.39 1.21 0.44 15.15 21.18 26.64 18.50 4.41

2010 2009 2008 2007 2006 2005 2004 2003

Current ratio 0.43 0.56 0.66 1.05 2.44 1.47 1.24 0.96
Quick ratio 0.34 0.51 0.57 0.83 2.22 1.41 1.19 0.87

2010 2009 2008 2007 2006 2005 2004 2003

Inv turn over 11.51 18.60 7.37 9.67 12.83 47.06 59.76 36.56

Payable turn over 4.55 4.67 5.28 6.76 5.24 7.04 6.45 7.56

Receivable turn over 181.36 190.85 89.42 72.67 107.53 72.08 53.79 63.55
2002 2001

32% 19%

30% 16%

15% 3%

17% 2%

32% 6%

2002 2001

0.46 0.60

0.84 1.50

0.22 0.32

2002 2001

5.41 2.07

2002 2001
0.79 0.57
0.60 0.44

2002 2001

13.66 11.59

7.71 7.26

35.33 16.86