Letter of Transmittal

i
Letter of Transmittal
19 February, 2014
Dr. Pallab Kumar Biswas
Assistant Professor
Department of Accounting & Information Systems
University of Dhaka

Subject: Submission of Project Paper on Ratio Analysis of Pharmaceutical and Textile
Industries in Bangladesh.

Dear Sir,
With due respect, Im extremely gratified and enthusiastic to present my Project Paper on
Ratio Analysis of Pharmaceutical and Textile Industries in Bangladesh as part of our BBA
Program. To prepare this report, I tried my best to gather relevant information from various
sources. But, it would not have been possible for me to prepare this report without your
sincere co-operation and proper guidance. So, I am highly grateful to you. After my all
attempts, this report is not fully free from error due to some limitations. I hope you will
accept it with cordial consideration.
Thank you for giving me an opportunity to work on this topic. I will be highly obliged to you
for your kind support.

Sincerely yours,

Wasiuzzaman Chowdhury
BBA (16
th
Batch), Roll- 16091
Department of Accounting & Information Systems
University of Dhaka.

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Acknowledgement

I should express my heartiest gratitude to the Almighty for the opportunity to prepare and
present a thesis report on Ratio Analysis of Pharmaceutical and Textile Industries in
Bangladesh. Then, I must express my gratefulness to my parents who gave me motivation
and support to complete my work. Its my pleasure to express my gratitude to my honorable
course instructor, Dr. Pallab Kumar Biswas, Assistant Professor, Accounting & Information
Systems, University of Dhaka for his sincere guidance and co-operation regarding the
preparation of this thesis report. I must give credit to all my teachers who taught me
different aspects of business, finance and accounting in last 4 years as their teaching gave
me the understanding on these issues which helped me to prepare this report. However, this
report is not fully free of error as I have lack of knowledge and experience in this field. So, I
would like to express my apology for any kind of mistake which has been unintentionally
throughout the preparation of the report.

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Executive Summary

Ratio Analysis gives a view of how a particular company is performing its many activities. It
gives an idea about a company to the outsiders as the ratios give an indication of how the
company is running. This thesis report focuses on the ratio analysis of the companies of
pharmaceutical and textile industries throughout the period ranging from 2003 to 2012. It
also includes Altmans Z Score Analysis as a supplement to ratio analysis since it refers to
the safety position of the companies. The project paper will provide an idea of the
performance of different companies of this two vibrant industries of the economy of
Bangladesh. It also provide an analysis of the degree of safety positions of the companies of
Pharmaceuticals and Textile Industries of Bangladesh from the period ranging from 2003 to
2012.

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Table of Content

S.N.

Name of the Chapter

Page No.
1 Introduction
1-5
1.1 Origin of the Study 2
1.2 Purpose of the Study 2
1.3 Scope of the Study 3-5
1.4 Limitations of the Study 5
2 Concept of Ratio Analysis
6-13
2.1 Definition 7
2.2 Benefits 7-8
2.3 Types of Financial Ratios 8-13
3 Concept of Altmans Z Score Analysis
14-16
3.1 Definition 15
3.2 Interpretation of Altmans Z Score 16
4 Ratio Analysis
17-121
4.1 Ratio Analysis of Pharmaceutical Industry 18-69
4.2 Ratio Analysis of Textile Industry 70-121
5 Altmans Z Score Analysis
122-144
5.1 Altmans Z Score Analysis of Pharmaceutical
Industry
123-133
5.2 Altmans Z Score Analysis of Textile Industry 134-144
6. Findings
145-147
Bibliography
148-149

Appendix
150-231

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List of Tables

S.N. Heading of the Table Page
1.
Ranking of Pharmaceutical Industries in 2012
(Based on Activity Ratios)
20
2. Ranking of Pharmaceutical Industries in 2012
(Based on Liquidity Ratios)
21
(Based on Profitability Ratios)
22
(Based on Solvency Ratios)
23
25
26
27
28
30
31
32
33
35
36
37
38
40

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41
42
43
45
46
47
48
50
51
52
53
55
56
57
58
60
61
62
63
65
66

vii

67
68
41. Ranking of Textile Industries in 2012 (Based on
Activity Ratios)
72
42. Ranking of Textile Industries in 2012
73
74
75
45. Ranking of Textile Industries in 2011 (Based
on Activity Ratios)
77
78
79
80
Activity Ratios)
82
83
84
85
Activity Ratios)
87
88
89
90
Activity Ratios)
92
93
94

viii

95
Activity Ratios)
97
98
99
100
Activity Ratios)
102
103
104
105
Activity Ratios)
107
108
109
110
Activity Ratios)
112.
113.
114.
115.
Activity Ratios)
117.
118.
119.
120.

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81. Atmans Z Score of Pharmaceutical Industry
(2012)
124
(2011)
125
(2010)
126
(2009)
127
(2008)
128
(2007)
129
(2006)
130
(2005)
131
(2004)
132
(2003)
133
91. Atmans Z Score of Textile Industry (2012) 135
101. Activity Ratios of Pharmaceutical
Industries(2012)
151
Industries(201)
152
Industries(2010)
153
Industries(2009)
154
Industries(2008)
155

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Industries(2007)
156
Industries(2006)
157
Industries(2005)
158
Industries(2004)
159
Industries(2003)
160
111. Liquidity Ratios of Pharmaceutical
Industries(2012)
161
Industries(2011)
162
Industries(2010)
163
Industries(2009)
164
Industries(2008)
165
Industries(2007)
166
Industries(2006)
167
Industries(2005)
168
Industries(2004)
169
Industries(2003)
170
121. Profitability Ratios of Pharmaceutical
Industries(2012)
171
Industries(2011)
172
Industries(2010)
173
Industries(2009)
174
Industries(2008)
175
Industries(2007)
176

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Industries(2006)
177
Industries(2005)
178
Industries(2004)
179
Industries(2003)
180
131 Solvency Ratios of Pharmaceutical
Industries(2012)
181
Industries(2011)
182
Industries(2010)
183
Industries(2009)
184
Industries(2008)
185
Industries(2007)
186
Industries(2006)
187
Industries(2005)
188
Industries(2004)
189
Industries(2003)
190
141 Activity Ratios of Textile Industries(2012) 191
151 Liquidity Ratios of Textile Industries(2012) 201

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161 Profitability Ratios of Textile Industries(2012) 211
171 Solvency Ratios of Textile Industries(2012) 221

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