Quashem drycells Proforma

8/8/2019 Quashem drycells Proforma

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Quasem Drycells Ltd.

Income StatementParticulars 2005 2006 2007Turnover ### ### ###Cost of goods sold 521501526 641585813 629738795

Depreciation 32355032 28770910 25994750Other Expenses 489146494 612814903 603744045

Gross profit ### ### ###Operating expenses ### ### ###Administrative expenses 44720159 43299481 39079432

Depreciation 3693127 3288104 2970829Other Expenses 41027032 40011377 36108603

Selling and distribution expenses 39735477 34800176 35500836Depreciation 883091 822026 742708

Other Expenses 38852386 33978150 34758128

financial expenses 21277873 25371078 32371045Operating Profit 15221809 401492 3026190Non operating income 505132 1549752 1390902Net profit before WPPF 15726941 1951244 4417092Contribution to WPPF 748902 92916 210337Net profit before income tax 14978039 1858328 4206755Provision for tax 4394455 743331 1262027

Deffered taxIncome tax 4394455 743331 1262027

Net profit after income tax 10583584 1114997 2944728Add/(Loss) Prior Years Adjustment -262067 154542 -517752Net profit after prior years adjustment 10321517 1269539 2426976Add: Realisation of revaluation surplus 2710290 2585082 2465878Net profit for the year 13031807 3854621 4892854Unappropriated Surplus brought forward 21145625 13477431 15332052Surplus available for appropriation 34177432 17332052 20224906Less: Proposed dividend 19200000 19200000Less: Income tax`reserve 1500000 2000000Unappropriated Surplus carried forward 13477432 15332052 1024906


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2008 2009 2010E 2011E 2012E 2013E### ### ### ### ### ###

520134367 797390224 892231945 1005551270 1134494914 1281095972

27058629 24476574 20992691 18437195 16094666 13948492493075738 772913650 ### 987114075 ### ###

### ### 205876518 238605618 275134841 31601454089642389 ### 116955106 130214990 154302197 16382716732448321 54202402 61046307 68692106 77403735 87318969

1349659 1305336 1858261 1632050 1424691 123471331098662 52897066 59188046 67060056 75979044 8608425724003223 48631194 53001005 59863918 67658851 76508198

1035445 1233068 731042 642050 560475 48573722967778 47398126 52269963 59221868 67098376 76022460

33190845 35660810 2907795 1658965 9239611 030552623 33319662 88921411 108390629 120832644 1521873743452907 3489878 2964893 3359224 3806000 4312198

34005530 36809540 91886304 111749852 124638645 1564995721619311 1752835 4375538 5321422 5935174 7452361

32386219 35056705 87510766 106428431 118703471 1490472118906211 9295933 24065461 29267818 32643455 40987983

3446618906211 9640594 24065461 29267818 32643455 40987983

23480008 25760772 63445305 77160612 86060016 108059228511539

23991547 25760772 63445305 77160612 86060016 1080592282352382 2244315

26343929 28005087 63445305 77160612 86060016 1080592281024905 4328834 3533921 23442729 35211170 42444915

27368834 32333921 66979226 100603341 121271186 15050414323040000 28800000 43536497 65392172 78826271 97827693

4328834 3533921 23442729 35211170 42444915 52676450


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2014E###

1447661429

119833341435678095361864781185144971

985942211060758

9753346386550751

41730386133448

01767198104885721

1816055308647882

17295764847563353

47563353125394295

125394295

12539429552676450

178070745115745984

62324761


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Qasem Drycell2005 2006 2007

Assets 752906155 801823702 834734301Non current assets 499728042 508940374 503540513Gross Fixed Asset 819519850 797998342 731114464Less: Accumulated depreciation 351731293 365016620 394724908

Net Fixed Assets 467788557 432981722 336389556Capital work in progress 26021765 70322734 161768556Miscellaneous assets 4917720 4635918 4382401Investment 1000000 1000000 1000000Current assets 253178113 292883328 331193788Inventories 129420083 165365857 185623836Sundry Debtors 21319887 23135591 30010178Advance, Deposit & prepayments 79390373 80898860 83369026Advance Income tax 17768556 15670080 21026748Cash & bank balances 5279214 7812940 11164000

Liabilities & Owners equity 752906155 801823702 834734301Shareholders Equity 512955286 492117148 494544124Share Capital 192000000 192000000 192000000Share Premium 198000000 198000000 198000000Revaluation Surplus 67517430 64932347 62466469Reserve & Surplus 55437856 37184801 42077655Non-current Liabilities 0 31831319 26496514Secured Loan 31831319 26496514Deferred tax liabilityCurrent Liabilities 239950869 277875235 313693663Bank loan, Cash credit & overdraft 183269173 215285530 238455252Liabilities for goods supplied 12091040 25889195 28710507Liabilities for expenses 16817453 15898904 26876411Liabilities for other finance 10177801 7976422 5884282Provision for income tax 17595402 12825184 13767211


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2008 2009 2010E 2011E 2012E 2013E### ### ### ### ### ###### ### ### ### ### ###

754699828 757797640 ### ### ### ###423275017 449536287 ### ### ### 527578348.7

### ### ### ### ### ###172955784 187154436 ### ### ### ###

4154236 3948888 3751444 3563871 3385678 32163941000000 1000000 1000000 1000000 1000000 1000000

### ### ### ### ### ###162993485 185830294 ### ### ### ###

28089012 31272784 ### 45038479 51028597 5781540191703766 99778054 ### 60714856 ### 77938992.9820144511 26749309 ### 33841067.36 ### 43441405.92

5855687 6902127 0 0 0 0

### ### ### ### ### ###### ### ### ### ### ###

192000000 192000000 192000000 192000000 192000000 192000000198000000 198000000 198000000 198000000 198000000 198000000

60114087 57869772 57869772 57869772 57869772 5786977247086097 52051183 66979226 100603341 121271186 150504143

21554035 19413823 ### 3027670.86 1790826 179082619418548 17622997 ### 1236845 0 0

2135487 1790826 1790826 1790826 1790826 1790826### ### ### ### ### ###

244157144 255358944 ### ### ### ###10917434 15671790 ### 31103922 35240744 3992776316420481 22292448 ### 32970158 37355188 4232342910495515 11022192 ### 15551961 17620372 1996388117576499 27217093 51282554 80550372 113193827 154181810


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2014E############

######

30555741000000

######

6550484988304879.0549219112.91

0

######

192000000198000000

57869772178070745

17908260

1790826######

452381554795244522619078

201745163


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Forecast assumption

1. Turnover will increase by 13.30% each year2. Depreciation will be 7.65% of net fixed aseet of the previous year3.Cost of goods sold

Out of total depreciation factory depreciation is 89.02%.

Other expenses will be 79.34% of turnover4. Administrative expenses

Out of total depreciation administrative depreciation is 7.88%%.Other expenses will be 5.39% of turnover

5. Selling and distribution expenseOut of total depreciation Selling and distribution depreciation is 3.10%%.Other expenses will be 4.76% of turnover

6. Financial expenses will be 16.50% of the outstanding loan balance which is indicated in the annual7. Non operating income will be 0.27% of turnover8. Contribution to WPPF has been made at 5% of net profit after charging such contribution

9. Income tax is payable on net profit before tax @27.50%10. Gross fixed`asset will continue to grow at a rate of -1.84%11. Capital work in progress will grow at a rate of 20%12. Miscellanous assets will continue to decrease at a rate of 5%.13. Investment will remain fixed at 1000000.14. Each year an installment of 10476456 will be paid to the lender which includes both interest and15. paid up capital and share premium will remain unchanged throughout the forecasting period16. The company will not revalue its asstes within the forecasting timeframe. So the revaluation surpl17. Inventory will be 22.41% of turnover18. Sundry debtors will be 3.62% of turnover19. Advance deposit and prepayment will be 4.88% of turnover20. advance income tax will be 2.72% of sales21. Liabilities for goods supplied will be 2.5% of turnover22. Liabilities for expenses is 2.65% of turnover23. Liabilities for other finance will be 1.25% of turnover24. Provision for income tax will be 2.37% of turnover25. Dividend payout ratio has been assumed as 65% of surplus available for appropriation26. Deferred tax liability will remain same throughout the forecasted period


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Quasem Drycells Ltd.

Income StatementParticulars 2005 2006 2007 2008Turnover 100% 100% 100% 100%Cost of goods sold 81.17% 86.07% 85.13% 81.23%

Depreciation 5.04% 3.86% 3.51% 4.23%Other Expenses 76.14% 82.21% 81.62% 77.00%

Gross profit 18.83% 13.93% 14.87% 18.77%Operating expenses 16.46% 13.88% 14.46% 14.00%Administrative expenses 6.96% 5.81% 5.28% 5.07%

Depreciation 0.57% 0.44% 0.40% 0.21%Other Expenses 6.39% 5.37% 4.88% 4.86%

Selling and distribution expenses 6.18% 4.67% 4.80% 3.75%Depreciation 0.14% 0.11% 0.10% 0.16%Other Expenses 6.05% 4.56% 4.70% 3.59%

financial expenses 3.31% 3.40% 4.38% 5.18%Operating Profit 2.37% 0.05% 0.41% 4.77%Non operating income 0.08% 0.21% 0.19% 0.54%Net profit before WPPF 2.45% 0.26% 0.60% 5.31%Contribution to WPPF 0.12% 0.01% 0.03% 0.25%Net profit before income tax 2.33% 0.25% 0.57% 5.06%Provision for tax 0.68% 0.10% 0.17% 1.39%Net profit after income tax 1.65% 0.15% 0.40% 3.67%

Balance SheetAssets 117.19% 107.56% 112.85% 127.80%Non current assets 77.78% 68.27% 68.07% 79.57%Gross Fixed Asset 127.56% 107.05% 98.84% 117.86%Less: Accumulated depreciation 54.75% 48.97% 53.36% 66.10%Net Fixed Assets 72.81% 58.08% 45.48% 51.76%Capital work in progress 4.05% 9.43% 21.87% 27.01%Miscellaneous assets 0.77% 0.62% 0.59% 0.65%Investment 20.14% 22.18% 25.09% 25.45%Current assets 39.41% 39.29% 44.77% 48.22%Inventories 20.14% 22.18% 25.09% 25.45%Sundry Debtors 3.32% 3.10% 4.06% 4.39%Advance, Deposit & prepayments 6.18% 4.67% 4.80% 3.75%Advance Income tax 2.77% 2.10% 2.84% 3.15%Cash & bank balances 0.82% 1.05% 1.51% 0.91%

Liabilities & Owners equity 117.19% 107.56% 112.85% 127.80%Shareholders Equity 79.84% 66.02% 66.86% 77.65%Share Capital 29.89% 25.76% 25.96% 29.98%


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10/13

2009 Mean100% 100%

82.27% 83.17%

2.53% 3.83%79.75% 79.34%

17.73% 16.83%14.29% 14.62%

5.59% 5.74%0.13% 0.35%5.46% 5.39%

5.02% 4.88%0.13% 0.13%4.89% 4.76%

3.68% 3.99%3.44% 2.21%0.36% 0.27%

3.80% 2.48%0.18% 0.12%

3.62% 2.36%0.96% 0.66%2.66% 1.70%

87.79% 110.64%51.63% 69.07%78.19% 105.90%46.38% 53.91%31.81% 51.99%19.31% 16.33%

0.41% 0.61%19.17% 22.41%36.17% 41.57%19.17% 22.41%

3.23% 3.62%5.02% 4.88%2.76% 2.72%0.71% 1.00%

87.79% 110.64%51.58% 68.39%19.81% 26.28%


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20.43% 27.10%5.97% 8.60%5.37% 6.41%2.00% 2.64%1.82% 2.54%0.18% 0.10%

34.21% 39.61%26.35% 30.82%

1.62% 2.51%2.30% 2.65%1.14% 1.25%2.81% 2.37%


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Particulars 2004 2005Turnover 642456844Growth in turnover

DEPRECIATION 36931250Factory 32355032Head Office 3693127Sales office 883091

Net Fixed Asset 493696377 467788557DEPRECIATION Rate 7.48%%of factory depreciation out of total depreciation 87.61%% of administrative depreciation 10.00%% of selling & distribution depreciation 2.39%Capital work in progress 26021765

Growth in capital work in progress

Gross fixed asset 819519850Growth rate

Miscellaneous assets 4917720Growth rate

Accumulated depreciation 449536287 473118280.5 Total Depreciation 23581993.5

Factory 20992691Head office 1858261Selling 731042

23581994

BeginningSecured loan 17622997

100543361236845

Dividend payout ratio 0.56 0.00


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Documents

Quashem drycells Proforma