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Valuation Lafarge Surma cement Ltd.

Valuation Lafarge Surma cement Ltd.

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Published by Azhar Hossain
Absolute and relative valuation.
Absolute and relative valuation.

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Categories:Types, Business/Law
Published by: Azhar Hossain on Jun 22, 2013
Copyright:Attribution Non-commercial

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04/26/2015

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Lafarge Surma Cement Ltd.

Income statement
Particulars 2008 2009 2010 2011
Revenue 6211938 7543725 5655374 6098478
Less: Cost of sales 3836583 5105542 4995256 5578134
Gross profit 2375355 2438183 660118 520344
Less: General and administrative expense 359058 376219 342119 374702
Less: Selling and distribution expenses 132022 124949 93909 68340
Less / (Plus): Other operating Expenses (Income) -83759 -2947 264663 -322634
Total operating expense 407321 498221 700691 120408
Operating Income/(Loss) 1968034 1939962 -40573 399936
Less / (plus): Exchange Loss (Gain) -12889 68365 51940 644546
Plus: Finance income 78408 62460 40096 41023
Less: Finance Cost 1068823 828974 665665 1046761
Less: Contribution to WPPWF 49526 55254
EBT 940982 1049829 -718082 -1250348
Less: Tax 305787 466904 -212144 -100300
Net income 635195 582925 -505938 -1150048
Less: Dividend
Transfer to the reserve
(Tk '000)
2012
10640061
7192929
3447132
566176
153284
20879
740339
2706793
105630
45858
395237
112589
2139195
654140
1485055
Lafarge Surma Cement Ltd.
Balance Sheet
(TK. '000)
Particular 2008 2009 2010 2011 2012
Assets
Non-Current Assets
PPE 13341043 13036126 12629748 12176273 11791028
Intangible assets 11020 8383 6939 4513 13239
Investment in Subsidiaries 519893 519893 519893 519893 599651
Loans to subsidiary companies 1240560 1129641 1154028 1335097 1105620
Deferred income tax assets 81767 - - - -
Total fixed asset 15194283 14694043 14310608 14035776 13509538
Current Assets
Inventories 1006384 1198739 1085140 1437685 1670233
Trade recievables 703932 388088 133171 533487 711629
Accrued interest 279420 224260 264089 346082 294902
Other recievables 497842 437412 601012 812682 1143791
Derivative instruments-assets 1960 50 1429 19855 -
Cash & cash equivalents 18301 70039 163248 236064 143503
Total curent asset 2507839 2318588 2248089 3385855 3964058
Total asset 17702122 17012631 16558697 17421631 17473596
Equity & Liabilities
Share capital 5806868 5806868 5806868 11575806 11613735
Retained earnings -1636782 -1053857 -1559795 -2709843 -1224788
Other component of equity - - -18029 -4216 79271
Share money deposits - - - 37929 -
Shareholder's Equity 4170086 4753011 4229044 8899676 10468218
Non-Current liabilities
Long term debt 6404929 4705955 3000781 2511995 8356
Deferred income tax liabilities - 385137 172993 9267 612200
Employee benefits 31866 43901 52982 72898 105707
Derivative instruments - 18029 6746 -
Total Non-Current liabilities 6436795 5134993 3244785 2600906 726263
Current liabilities
Trade payables 637766 951271 1318338 1494847 1822643
Other payables 514364 489635 341387 298572 433179
Derivative instruments - - - 28764 780
Current portion of long term debt 1717614 1741992 1780227 2302811 2443545
Bank overdrafts 1420373 675096 583683 165737 80643
Short-term debt 2803873 3265382 5059982 1568171 1382733
Current income tax liabilities 1251 1251 1251 62147 115592
Total current liability 7095241 7124627 9084868 5921049 6279115
Total liabilities 13532036 12259620 12329653 8521955 7005378
Total Equity & Liabilities 17702122 17012631 16558697 17421631 17473596
q
Particulars 2008 2009 2010 2011 2012
Sales Growth rate 0.214392 -0.25032 0.078351 0.744708
Average sales growth rate 0.196782
COGS in proportion to sales 0.617615 0.676793 0.883276 0.914676 0.676023
Average proportion 0.753677
Operating expense in proportion to sales #REF!
2013 2014 2015 2016 2017
0.196782 0.196782 0.196782 0.196782 0.196782
0.753677 0.753677 0.753677 0.753677 0.753677

(Tk '000) 2012 10640061 7192929 3447132 566176 153284 20879 740339 2706793 105630 45858 395237 112589 2139195 654140 1485055 .

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