Bangalore Fluid System Components Private Limited‚¤ンドレポート読み...Service Center Unit No - XXX, Bestech Chambers, X Block, Sushant Lok, Phase-X, Gurgaon - XXX XXX, Haryana,
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Latest Financial Trends (As procured from Mr. XXX XXX, Accounts Executive of the subject) ----------------- Turnover (Rs. in '000) Rs. 620 000.- (Projected) for the FY 20YY-11. (Already achieved a turnover of Rs. 43.00 crore so far in the ongoing financial year) Note: - * Whilst interviewed Mr. XXX XXX, Senior Manager Finance & Accounts of the subject, provided us with a basic outline of the subject's present state-of-affairs and current turnover trends (as given above). * The information provided in this report is largely based on the information procured from the subject's records file at Official Registry Records (ROC). * Only extracted figures of the profit & loss account statement were available in the official registry records.
KEY RATIOS
SOLVENCY RATIOS March 31, 20YY March 31, 20YY March 31, 20YY
Current Ratio 流動比率 1.96 2.17 2.15
Quick Ratio 当座比率 1.96 1.43 2.15
Current Ratio - A measure of short term solvency i.e. ability to meet the short term obligations by matching current assets against current liabilities. Ideal current ratio is 2 : 1 (2.0). However, a very high ratio indicates availability of idle cash and is not a good sign. Current Ratio =Current Assets / Current Liabilities Quick Ratio - A measure of the amount of liquid assets available to offset current liabilities. The ratio is 1:1 (1.0), the business is said to be in a liquid condition. The larger the ratio, the greater the liquidity. Quick Ratio=(Current Assets - Inventories) / Current Liab.
Debt Ratio - A ratio that indicates what proportion of debt a company has relative to its assets. A debt ratio of greater than 1 indicates that a company has more debt than assets. The debt ratio can help investors determine a company's level of risk. Debt Ratio=Borrowing + Current Liab. / Total Assets Debt Equity Ratio - The debt-to-equity ratio is a measure of the relationship between the short term & long term debts and the capital contributed by shareholders. A ratio of 1:1 is usually considered to be satisfactory ratio. Debt Equity Ratio=Borrowings / Net Worth Current Liabilities /Net Worth - This ratio indicate the amount due to creditors within a year as a percentage of the owners or stockholders investment. The smaller the net worth, larger the liabilities, resulting in less security for creditors. Fixed Asset/ Net Worth - The ratio indicates the extent to which shareholder's funds are invested into the fixed assets. If this ratio is unusually large, a company may be overinvested in fixed assets and vice versa if it is small it may limit the company's ability to produce profits. A ratio of .75 or higher is usually undesirable. Interest Coverage Ratio - A ratio used to determine how easily a company can pay interest on outstanding debt. It measures the margin of safety for the lenders. The higher the number, more secure the lender is in respect of periodical interest. Interest Coverage Ratio=PBIT / Financial Charges
Average Collection Days - The approximate amount of time that it takes for a business to receive payments owed, in terms of receivables, from its customers and clients. Possessing a lower average collection period is seen as optimal. Average Collection Days=Sundry Debtors / Operating Income * 365 Days Accounts Receivable Turnover – The accounting measure used to quantify a firm's effectiveness in extending credit as well as collecting debts. A high ratio implies either that a company operates on a cash basis or that its extension of credit and collection of accounts receivable is efficient. Accounts Receivable Turnover= Operating Income / Sundry Debtors Average Payment Days - The average payment days represents the number of days taken by the company to pay its creditors. A lower credit period ratio signifies that the creditors are being paid promptly. However a very favorable ratio to this effect also shows that the business is not taking the full advantage of credit facilities allowed by the creditors. Average Payment Days=Sundry Creditors / Purchase * 365 Days Inventory Turnover - A ratio showing how many times a company's inventory is sold and replaced over a period. A low turnover implies poor sales and, therefore, excess inventory. A high ratio implies either strong sales or inefficient buying. Inventory Turnover=Operating Income / Inventories Asset Turnover - Asset turnover ratio measures the efficiency of a company's use of its assets in generating sales revenue or sales income to the company. The higher the number the better. Asset Turnover=Operating Income / Net Fixed Assets
PROFITABILITY RATIOS March 31,
20YY March 31,
20YY March 31,
20YY
Operating Profit Margin 営業利益率 12.73 15.84 10.89
Net Profit Margin 売上高純利益率 8.49 10.34 6.97
Return on Total Assets 総資産収益率 17.31 21.10 13.02
Return on Equity 株主資本利益率 30.00 38.67 29.40
Operating Profit Margin - The operating profit margin ratio is a measure of overall operating efficiency of a company. It is expressed as a percentage of sales and shows the efficiency of a company for controlling the costs and expenses associated with business operations. Net Profit Margin - Net Profit Margin ratio is calculated by dividing net profit by operating income. It measures how much out of every unit of sales a company actually earns profit. The higher the ratio the better. Return on Total Assets - The Return on Assets of a company determines its ability to utilize the Assets employed in the company efficiently and effectively to earn a good return. The greater a company's earnings in proportion to its assets the more effectively that company is said to be using its assets. Return on Total Assets= (PAT / Total Assets) * 100
Return on Equity - Return on equity measures the return on the ownership interest of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity. Return on Equity = PAT/Shareholder's Equity
INDUSTRY SCENARIO
(Valves Industry)
The organized sector of the India valve industry is estimated to be Rs 900 crore, while the unorganized sector contributes additionally over to Rs 500 crore. Close to 50% of the market is shared by two companies (L&T and BHEL), while the rest have individual market shares of 4% or less. There are over 100 companies mostly in the unorganized or the small scale sector and the industry as is evident is highly fragmented. The growth rate of this industry is estimated at 10 to 15%. With increasing activity in the manufacturing and infrastructure sectors and big infrastructure projects like power, oil, chemicals, steel etc being launched in India, there is a huge potential for growth of the Indian valve manufacturers. Investments between April 2004 and September 2005 in iron & steel sector alone will be in the region of Rs 28,798 crore while in petrochemicals it is estimated at Rs 9,420 crore, the valve requirement of these projects would be close to Rs 600 crore. The investment in the power sector is expected to be Rs 1,74,000 crore in the coming seven years and Rs 18,000 to 20,000 crore are expected to be invested in new refineries. Global sales of valves are worth about US$ 40 billion which is expected to touch $66 billion by year 20YY. US, Germany, Italy & Japan are the leading countries manufacturing valves with 50% of total world production. Valves are imported heavily from China and other countries; Import is around Rs 460 crore (€77.34mn), an increase of 24% to that of previous fiscal year. The import is largely for precision type of valves mainly used in process industries like Pharma, Food processing, steel, and chemical and refineries. This industry is growing at an average rate of 12%. Valve production in India does not have immense opportunities for foreign investment. This is due to the fact that the replacement market in India is mostly catered by unorganized or mid size valve manufacturers. However, current industrial developments in the steel industry and oil & gas explorations will certainly promote foreign collaborations in technology.
This report is based on information from sources believed to be true. Any advice or recommendation in this report has been given without specific investment objectives and the particular needs of any specific addressee. It must be distinctly understood that though utmost care has been exercised to obtain reports of a reliable character but we accept no liability whatsoever for any direct or consequential loss arising from any use of this document.
END OF REPORT
為替レート(概数)
Balance Sheet
For the Year Ending 31/03/2011 31/03/2010 31/03/2009 31/03/2011 31/03/2010 31/03/2009
SOURCE OF FUND
Net Worth 94,932 77,795 69,551 Net Worth (自己資本) 94,932 77,795 69,551