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Growth at a Glance

» Condensed Balanced Sheet
» Condensed Profit & Loss A/C
» Profitibility Ratios
» Return to Shareholders
» Dividend
» Asset Utilization
» Working Capital Cycle
» Liquidity / Leverage
(Rupees in million)

Condensed Balanced Sheet
  2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
  Assets                        
» Non-Current Assets                        
- Property,Plant & Equipment 3,429.5 3,391.4 3,591.2 3,627.8 1,907.5 1,4506.6 566.1 536.0 450.7 490.3 366.7 379.4
- Other non-current assets 23.3 27.6 80.6 28.1 18.0 15.1 15.7 22.5 22.6 16.0 20.1 21.3
» Current Assets                        
- Inventory 2,220.2 2,279.6 1,988.6 2,317.1 1,794.1 1,429.6 650.2 500.3 569.0 443.5 410.0 494.6
- Investments & bank balances 1,092.2 1,881.4 1,784.5 1,009.4 1,842.5 751.5 1,021.0 406.8 159.3 252.4 186.2 441.6
- Other current assets 719.8 1,124.6 591.9 647.8 529.2 510.1 404.1 366.0 285.6 217.1 242.2 201.7
Total Assets 7,485.0 8,704.6 8,036.8 7,630.2 6,091.3 4,111.9 2,657.1 1,831.6 1,487.2 1,419.3 1,225.2 1,538.0
» Equity & Liabilities                        
- Share Capital 473.0 473.0 411.3 357.6 255.5 204.4 204.4 204.4 146.0 146.0 146.0 146.0
- Reserves 2,848.3 2,931.2 2,564.5 2,251.3 1,822.8 1,441.3 872.2 587.9 498.4 439.0 408.0 335.7
- Non-current Liabilites 950.7 1,268.5 1,668.7 2,009.8 1,124.8 584.1 172.3 113.8 156.8 208.7 160.1 190.0
» Current Liabilities                        
- Creditors & provisions 2,718.6 3,297.1 2,828.2 2,478.3 2,369.2 1,570.1 990.0 591.0 476.4 394.0 336.1 507.7
- Other Current Liabilites 494.4 734.8 564.1 533.2 519.0 312.0 418.2 334.5 209.6 231.6 175.0 358.6
Total Equility & Liabilities 7,485.0 8,704.6 8,036.8 7,630.2 6,091.3 4,111.9 2,657.1 1,831.6 1,487.2 1,419.3 1,225.2 1,538.0
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Condensed Profit & Loss A/C
  2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
- Sales 13,747.8 20,855.5 16,608.4 17,420.2 14,120.8 9,948.1 6,977.4 5,524.0 4,704.5 3,397.4 3,424.9 3,423.5
- Cost Of Sales 12,782.2 19,299.0 15,044.6 15,790.5 12,776.7 8,713.9 5,949.6 4,788.5 4,246.1 3,044.5 3,027.8 2,999.0
Gross Profit 965.6 1,556.5 1,563.8 1,629.7 1,344.1 1,234.2 1,027.8 735.5 458.4 352.9 397.1 424.5
- Opening Expenses 437.0 495.2 580.8 528.4 445.2 360.2 360.0 322.4 237.8 199.0 179.8 173.9
- Operating Profit 528.6 1,061.3 983.0 1,101.3 898.9 874.0 667.8 413.1 220.6 153.9 217.3 250.6
- Other (net of other income) 175.9 57.1 179.5 54.3 (6.7) 31.5 16.9 18.6 17.7 52.1 36.0 59.7
Profit before Tax 352.7 1,004.2 803.5 1,047.0 905.6 842.5 650.9 394.5 202.9 101.8 181.3 190.9
- Taxation 128.2 301.2 249.9 370.2 308.5 297.8 223.5 124.0 85.1 41.7 57.6 65.3
Profit After Tax 224.5 703.0 553.6 676.8 597.1 544.7 427.4 270.5 117.8 60.1 123.7 125.6
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Profitibility Ratios
  2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
- Gross Profit 7.0 7.5 9.4 9.4 9.5 12.4 14.7 13.3 9.7 10.4 11.6 12.4
- Profit before Tax 2.6 4.8 4.8 6.0 6.4 8.5 9.3 7.1 4.3 3.0 5.3 5.6
- Profit after Tax 1.6 3.4 3.3 3.9 4.2 5.5 6.1 4.9 2.5 1.8 3.6 3.7
- Return on capital employeed 14.1 24.6 20.9 24.6 30.4 38.3 53.6 44.5 16.7 8.8 20.7 23.0
- Interest Cover Ratio 2.4 5.0 3.1 5.5 6.9 28.1 17.2 11.2 3.6 2.0 3.2 2.6
- Earning before interest, tax, depreciation & amortisation (EBITDA) 849.8 1,631.0 1,537.2 1,586.5 1,373.2 1,119.7 761.1 492.6 294.1 188.5 243.9  
- EBITDA Margin 6.2 7.8 9.3 9.1 9.7 11.3 10.9 8.9 6.3 5.5 7.1  
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Return to Shareholders
  2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
- ROE - before tax 14.2 29.5 27.0 40.1 43.6 51.2 60.5 49.8 31.5 17.4 32.7 3272.6%
- ROE - after tax 9.0 20.7 18.6 25.9 28.7 33.1 39.7 34.1 18.3 10.3 22.3 2232.9%
- EPS - after tax 4.75 14.9 11.7 14.3 12.6 11.5 9.0 5.7 2.5 1.3 2.6 4.9
- Price Earning Ratio 18.7 14.1 13.5 15.5 24.2 15.2 8.9 7.0 10.0 15.2 7.4 6
- Market Price  88.8 210.0 158.0 221.1 305.0 175.0 80.0 40.1 25.0 19.3 19.3 30.00
- Break up value per share 70.2 72.0 62.9 55.2 43.9 34.8 22.8 16.8 13.6 12.4 11.7 18.9
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Dividend
  2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
- Cash dividend 3.0 6.5 6.0 6.0 6.0 7.5 7.0 6.0 4.0 2.0 3.5 2.5
- Stock dividend 1.5 - 1.5 1.5 4.0 2.5 - - 4.0 - -  
- Dividend yield 5.1 3.1 4.7 3.4 3.3 5.7 8.8 15.0 32.0 10.4 18.2 833.3%
- Dividend cover 1.1 2.3 1.6 1.9 1.3 1.2 1.3 1.0 0.3 0.6 0.7  
- Dividend pay out 94.8 43.7 55.7 39.6 42.8 39.0 33.5 45.3 99.2 48.6 41.3 2950.7%
- Plough back ratio 5.2 56.3 44.3 60.4 57.2 61.0 66.5 54.7 0.8 51.4    
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Asset Utilization
  2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
- Total assets turnover 1.8 2.4 2.1 2.3 2.3 2.4 2.6 3.0 3.2 2.4 2.8 2.8
- Fixed assets turnover 4.0 6.1 4.6 4.8 7.5 7.1 12.3 10.3 10.4 6.9 9.3 9.3
- Inventory turnover 6.2 9.1 7.6 6.7 7.1 6.1 9.1 9.6 7.5 7.7 7.4 7.5
- Debtor turnover 42.9 51.2 58.9 62.1 101.1 141.5 140.4 33.2 109.9 85.6 122.8 122.8
- Capital employeed turnover 3.7 5.1 4.1 4.1 4.7 4.8 6.5 7.0 7.3 5.8 6.2 6.2
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Working Capital Cycle
  2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
- Inventory holding period 48 43 48 54 51 60 40 38 49 53 49 49
- Trade debtors period 7 6 6 4 3 2 6 7 3 4 2 2
- Creditors period 64 (57) (65) (54) (55) (49) (47) (41) (36) (43) (52) (58)
- Working capital cycle (9) (8) (11) 4 (1) (13) (1) 4 16 14 (1) 109
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Liquidity / Leverage
  2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
- Current ratio 1.25 1.31 1.29 1.32 1.44 1.43 1.47 1.38 1.48 1.46 1.64 1.21
- Quick ratio 0.56 0.75 0.70 0.55 0.82 0.62 1.03 0.90 0.68 0.73 0.86  
- Long Term debts to Equity 0.11 0.20 0.37 0.61 0.45 0.30 0.10 0.10 0.10 0.30 0.20 0.30
- Total Liabilities to Equity 1.25 1.56 1.70 1.92 1.90 1.80 1.50 1.30 1.30 1.40 1.20 2.10
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