1. Introduction
They are engaged in export trading of natural
rubber and desiccated coconut; manufacture/export of rubber-based products;
manufacture/wholesale distribution of branded consumer products;
import/wholesale distribution of sugar; and import/sale of welding equipment,
light engineering products, refrigeration and air conditioning components and
marine paints/protective coatings.
Main Businesses
·
FMCG
·
Marine Paints
·
Sugar trading
·
Industrial products
2. Financial Analysis
Document was prepared in
order to analyze financial state of the company within the period of 2013 to
2017. The analysis has been done under Horizontal Analysis, Vertical Analysis
and Ratio Analysis.
3. Vertical Analysis
3.1. Income statement analysis
As a proportion of revenue
Item
|
Year
|
||||
2017
|
2016
|
2015
|
2014
|
2013
|
|
Revenue
|
8,162,754
|
7,202,047
|
6,671,012
|
6,266,782
|
6,279,568
|
Cost of Goods Sold on revenue
|
85.72%
|
85.07%
|
85.41%
|
85.67%
|
86.95%
|
Gross Profit on revenue
|
14.20%
|
14.93%
|
14.59%
|
14.33%
|
13.05%
|
Selling General &
Administrative on revenue
|
10.95%
|
10.79%
|
10.82%
|
10.21%
|
9.42%
|
Interest on revenue
|
0.70%
|
0.35%
|
0.56%
|
0.70%
|
1.40%
|
Earnings Before Tax (EBT) on
revenue
|
4.63%
|
5.98%
|
4.92%
|
4.98%
|
4.78%
|
Tax on revenue
|
1.38%
|
1.66%
|
1.37%
|
1.55%
|
1.43%
|
Net earnings on revenue
|
3.33%
|
4.38%
|
3.44%
|
3.48%
|
3.36%
|
3.2. Balance sheet analysis
As a percentage of Total Assets
2017
|
2016
|
2015
|
2014
|
2013
|
|
Non-current
assets
|
|||||
Property, plant and equipment
|
11%
|
8%
|
10%
|
10%
|
12%
|
Investment property
|
1%
|
1%
|
1%
|
2%
|
2%
|
Intangible assets
|
0%
|
1%
|
-
|
||
Investments in subsidiaries
|
17%
|
15%
|
21%
|
20%
|
18%
|
Total non-current assets
|
28%
|
24%
|
33%
|
31%
|
31%
|
Inventories
|
21%
|
20%
|
19%
|
17%
|
17%
|
Trade and other receivables
|
50%
|
49%
|
46%
|
50%
|
45%
|
Cash and cash equivalents
|
1%
|
2%
|
2%
|
1%
|
2%
|
Total
current assets
|
72%
|
76%
|
67%
|
69%
|
69%
|
Total
equity
|
60%
|
57%
|
64%
|
57%
|
61%
|
Total non-current liabilities
|
2%
|
1%
|
2%
|
2%
|
2%
|
Trade and other payables
|
14%
|
19%
|
15%
|
15%
|
12%
|
Bank overdrafts
|
3%
|
1%
|
1%
|
3%
|
3%
|
Total
current liabilities
|
38%
|
42%
|
34%
|
41%
|
37%
|
Total
Liabilities
|
40%
|
43%
|
36%
|
43%
|
39%
|
4. Horizontal Analysis (Trend Analysis)
2015 has been taken as the Base
year
4.1. Income Statement
2017
|
2016
|
2014
|
2013
|
|
Revenue
|
22%
|
15%
|
8%
|
6%
|
23%
|
14%
|
-6%
|
-6%
|
|
Gross Profit
|
20%
|
20%
|
-8%
|
-16%
|
Selling General & Administrative
|
24%
|
21%
|
-6%
|
-18%
|
54%
|
-42%
|
18%
|
135%
|
|
Earnings Before Tax (EBT)
|
15%
|
31%
|
-5%
|
-4%
|
