apex foods

Pre- IPO Post-IPO

1995 1996 2004 2005
Current Assets:
inventories 484120349 560697693
debtors 183156263 127157291
advance and deposit 15568415 8475200
other receivables 16254727 16254727
cash and bank balance 111490981 72419340

Total Current Assets(CA) 0 0 810590735 785004251

Current Liabilities

working capital loan 448013138 449096524

long term current maturity 33929593
short term loan
trade creditors 7271225 30267078
sundry creditors 21743388 13513549
income tax payable 5592193 3780640
proposed dividend 7413120 8553600
other liabilities 1902077 1085509
Total Current Liabilities(CL) 0 0 525864734 506296900
15.Sales 1488820226 1324837481
16.Cost of Goods Sold (COGS) 1345805566 1195319125
Net working capital 173235020 206288011
Total ASSET 1355726809 1116188405
Total Share holders equity 376228461 378987544
Net Profit after tax 14992835 12983382
NO. of Shares outstanding 570240 570240
ROA 1.11% 1.16%
ROE 3.99% 3.43%
EPS 26.29 22.77
Ratio Analysis:
Current ratio:(C A/C L) #DIV/0! #DIV/0! 1.54 1.55
Quick ratio:((CA-inventories)/CL) #DIV/0! #DIV/0! 0.62 0.44
Accounts Receivable turnover:(sales/AR) #DIV/0! #DIV/0! 8 10
A/R Collection Period:(360/AR turnover) #DIV/0! #DIV/0! 44 35
Inventory Turnover ratio:(COGS/Inv) #DIV/0! #DIV/0! 3 2
Inventory conversion period:(360/Inv.Turnover) #DIV/0! #DIV/0! 130 169

Operating Cycle: (A/R collection per.+Inv. conv ) #DIV/0! #DIV/0! 174 203
Payment deferral period:(( 9+10)/16)*360 #DIV/0! #DIV/0! 8 13
Cash conversion cycle: Operating cycle-pay.def #DIV/0! #DIV/0! 166 190
Current ratio

apex foods
1.60
0.80
1.55 0.70
 Current ratio
apex foods
1.60
0.80
1.55 0.70

1.50 0.60
0.50
1.45
0.40
1.40 0.30
0.20
1.35
0.10
1.30 0.00
1995 1996 2004 2005 2006 2007 2008
1995 1996 2004

2004 2005

comprehensive liquidity index

modified current asset 1.4967872126 1.5742694599

inventories 439740601.88 516023183.48

debtors 160624182.84 114952792.8
advance and deposit 15568415 8475200
other receivables 16254727 16254727
cash and bank balance 111490981 72419340

total 743678907.72 728125243.28

modified current liabilities

working capital loan 448013138 449096524

long term current maturity 33929593 0
short term loan 0 0
trade creditors
sundry creditors
income tax payable 5592193 3780640
proposed dividend 7413120 8553600
other liabilities 1902077 1085509

total 496850121 462516273

2004 2005

Net Liquid Balance 77561388 72419340

current asset 111490981 72419340
current liabilities 33929593 0
Post-IPO
2006 2007 2008

430333940 386396728 402397836

200025663 77883282 89252478
13595604 21868654 36483650
16254727 201712117 88252065
74918486 74093467 195853040

735128420 761954248 812239069

415837235 444598480 440576222

66176718 12509897 7904041
27644408
6841713 27135680 22502675
13883428 15854770 24269410
8309159 18004467 27720991
9123840 10264320 11404800
1134672 1455425 1789659
521306765 529823039 563812206
1650891478 2414669218 2291194337
1476079060 2203487848 2065602942
138903169 158037742 52573823
1537201554 2123333388 2102281597
382274808 393449245 405717429
12411104 21438757 23672984
570240 570240 570240
0.81% 1.01% 1.13%
3.25% 5.45% 5.83%
21.76 37.60 41.51

1.41 1.44 1.44

0.58 0.71 0.73
8 31 26
44 12 14
3 6 5
105 63 70

149 75 84
5 2 6
144 73 78

Quick Ratio Accounts Recivable

2008
 Quick Ratio Accounts Recivable
2008
2007
2006
Quick 2005
Ratio
2004
1996
1995

995 1996 2004 2005 2006 2007 2008 0 5 10 15 20 25

2006 2007 2008

1.3465539682 1.5383429532 1.538950554

393501243.97 375870027.52 389334739

175790111.24 75371217.171 85775686.57
13595604 21868654 36483650
16254727 201712117 88252065
74918486 74093467 195853040

674060172.21 748915482.69 795699180.6

415837235 444598480 440576222

66176718 12509897 7904041
0 0 27644408

8309159 18004467 27720991

9123840 10264320 11404800
1134672 1455425 1789659

500581624 486832589 517040121

2006 2007 2008

8741768 61583570 187948999

74918486 74093467 195853040
66176718 12509897 7904041
unts Recivable Turnover Inventory Turnover(Times)
6
unts Recivable Turnover Inventory Turnover(Times)
6

4
Accounts Recivable Inve
Turnover 3 Turn
2

0
15 20 25 30 35 1995 1996 2004 2005 2006 2007 2008
over(Times)
over(Times)

Inventory
Turnover(Times)

2007 2008
Alltex Industries

Pre- IPO Po
1995 1996 2004
Current Assets:
1.Stocks inhand and in transit 129914350 129811449 436516099
2.Trade debtors 18025607 7939809 234982786
3.Share Issue expenses 2849821
4.Advances, deposits & receivable 60697477 98743276 188860155
5.Cash & bank balances 16692553 17217336 85209041
Total current assets 225329987 253711870 948417902

Current Liabilities
6.bank Overdraft-secured 890804321
7.Goods Supplied 19242425
8.Liabilities for expenses 24276680
9.Overdue installmnets of long term liabilities 28785630
10.Overdue installments of leasing expenses 1607280
11.other finance 751249
12.Long term loan cuurrent maturity
13.Lease liability current maturity
14.Other liabilities
15.Unclaimed dividend 1310815
16.Dividend distribution tax 4800000
Total Current Liabilities 92911532 68409685 971578400
17.Sales 275955640 288355528 2119877374
18.COGS 198971117 213601963 1828071623
Net working capital 115725902 168084849 -108369539
Total ASSET 422046997 450791595 1888632422
Total Share holders equity 181681671 235718451 738019123
Net Profit after tax 53388838 54036780 14369698
NO. of Shares outstanding 900000 2000000 4800000
ROA 12.65% 11.99% 0.76%
ROE 29.39% 22.92% 1.95%
EPS 59.32 27.02 2.99

Ratio Analysis:
Current ratio:(C A/C L) 2.43 3.71 0.98
Quick ratio:((CA-Cash)/CL) 2.25 3.46 0.89
Accounts Receivable turnover:(sales/AR) 15 36 9
A/R Collection Period:(360/AR turnover) 24 10 40
Inventory Turnover ratio:(COGS/Inv) 2 2 4
Inventory conversion period:(360/Inv.Turnover) 235 219 86

Operating Cycle: (A/R collection per.+Inv. conv ) 259 229 126

Payment deferral period:(( 9+10)/16)*360 N/A N/A 9
Cash conversion cycle: Operating cycle-pay.def N/A N/A 117
 Current RATIO Qui
4.00 4.00
3.50 3.50
3.00 3.00
2.50 2.50
2.00 Current 2.00
RATIO
1.50 1.50
1.00 1.00
0.50 0.50
0.00 0.00
1995 1996 2004 2005 2006 2007 2008 1995 1996 2004 2005
 Post-IPO
2005 2006 2007 2008

316607366 519230964 479864472 463533788

64466701 183445699 305677740 156520814
2493594 2137367 1781140
284076860 242274334 230941398 213068002
59607521 47663343 73315740 53225896
727252042 994751707 1091580490 886348500

496272361 938684801 1045110312 1013115432

19913305 17639563 21651007 20884458
26643621 24262924 63365822
6792058 57258383 89314702

838820 750398 880232

112506679
30258915
49012973
27057725 29878125 25263111 24917014

577517890 1011215811 1213528867 1340010173

2179677556 2078867152 3247305609 3033778518
1842263471 1741674948 2720267763 2623790478
90126631 -64127447 -195264117 -506887569
1673548240 1990382470 2323399897 2452181818
706795516 638149032 629765874 633445609
16776392 10365039 10774442 6047766
4800000 4800000 4800000 4800000
1.00% 0.52% 0.46% 0.25%
2.37% 1.62% 1.71% 0.95%
3.50 2.16 2.24 1.26

1.26 0.98 0.90 0.66

1.16 0.94 0.84 0.62
34 11 11 19
11 32 34 19
6 3 6 6
62 107 64 64

73 139 97 82
9 9 11 3
63 130 86 79
 Quick ratio A/R Turnover time
00
2008
50
00 2007
50 2006
00 Quick 2005
ratio
50 2004
00
1996
50
1995
00
1995 1996 2004 2005 2006 2007 2008 0 5 10 15 20 25 30 35
/R Turnover times Inventory Turnover( Times)
6

A/R Turnover times 3 Inventory

Turnover( Times)
2

0
5 20 25 30 35 40 1995 1996 2004 2005 2006 2007 2008
Times)

Inventory
Turnover( Times)

8
 Apex spinning and knitting mills ltd.,Dhaka

Pre- IPO Post-IPO

1993 2004 2005
Current Assets:
1.Stocks inhand and in transit 56675200 41286394 88145964
2.Trade debtors 41027525 108151333 114631023
3.Advances, deposits & prepayments 1634274 46198903 55691542
4.Other receivable
5.Cash & bank balances 52125 46519114 53425423
Total current assets 99389124 242155744 311893952

Current Liabilities
6.Trade creditors 42173550 203165717 231150220
7.Sundry creditors 4719765 24438484 38050912
8.Working capital loan 25958539 8837239 41321950
9.Directors loan 2828155
10.term loan current maturity
11.Long term loan current maurity
12.Short term loan
Total Current Liabilities 75680009 236441440 310523082
13.Sales 98262557 1009893080 1427363785
14.Cogs 68795006 885983889 1274859754
Net working capital 23656990 -40804810 -52054553
Total ASSET 210337525 565507138 686319475
Total Share holders equity 63990168 249540397 284134701
Net Profit after tax 18834249 37575530 47194304
NO. of Shares outstanding 350000 840000 840000
ROA 8.95% 6.64% 6.88%
ROE 29.43% 15.06% 16.61%
EPS 53.81 44.73 56.18
Ratio Analysis:
Current ratio:(C A/C L) 1.31 1.02 1.00
Quick ratio:((CA-Cash)/CL) 1.31 0.83 0.83
Accounts Receivable turnover:(sales/AR) 2 9 12
A/R Collection Period:(360/AR turnover) 150 39 29
Inventory Turnover ratio:(COGS/Inv) 1 21 14
Inventory conversion period:(360/Inv.Turnover) 297 17 25

Operating Cycle: (A/R collection per.+Inv. conv ) 447 55 54

Payment deferral period:((6+7)/14)*360 245 92 76
Cash conversion cycle: Operating cycle-pay.def 201 -37 -22

Current Ratio
1.40 1.40
1.20 1.20
Ratio

Ratio

1.00 1.00
 Current Ratio
1.40 1.40
1.20 1.20

Ratio

Ratio
1.00 1.00
0.80 0.80
0.60 0.60
0.40 0.40
0.20 0.20
0.00 0.00
1993 2004 2005 2006 2007 2008 1993 2004
 Post-IPO
2006 2007 2008

125683077 148564429 219954386

191245458 188259667 151142900
40271544 29864099 46897057
59021338
66136964 28838567 111808250
423337043 395526762 588823931

278566348 215473516 374873711

42190000 36718537 52210845
48433398 102585664 23601041

49503546 66406108
29447322
48661588
418693292 421183825 528794507
1924903564 1601979126 1718675403
1734680303 1401084522 1527219980
-61493213 -54495630 -51778826
779529808 852303813 979431940
316907104 350746360 400339127
47892403 48959256 66392767
840000 840000 840000
6.14% 5.74% 6.78%
15.11% 13.96% 16.58%
57.01 58.28 79.04

1.01 0.94 1.11

0.85 0.87 0.90
10 9 11
36 42 32
14 9 7
26 38 52

62 80 84
67 65 101
-5 16 -17

Quick ratio Accounts Rece

1.40
2008
1.20
Ratio

1.00 2007
 Quick ratio Accounts Rece
1.40
2008
1.20
Ratio

1.00 2007

0.80 2006
0.60 2005
0.40
2004
0.20
1993
0.00
1993 2004 2005 2006 2007 2008 0 2 4 6
Accounts Receivable Turnover Inventory Turnover rati
25

20
 Accounts Receivable Turnover Inventory Turnover rati
25

20

15

10

0
2 4 6 8 10 12 14 1993 2004 2005 2006 2007 2008
ory Turnover ratio
ory Turnover ratio

Inventory Turnover ratio

006 2007 2008

Metro Spinning Limited

Pre- IPO Post-IPO

2000 2001 2004 2005
Current Assets:
1.Stocks inhand and in transit 50230328 78193307 72495080 202907542
2.Trade debtors 645704 152103 39266200 56739146
3.Share Issue expenses
4.Advances, deposits & receivable 4030313 12611504 44270269 39094595
5.Cash & bank balances 2578847 273828 10137714 7490646
Total current assets 57485192 91230742 166169263 306231929

Current Liabilities
6.Trade Creditors 6266575 11078730 23579528 35973476
7.deferred liability
8.WPFF 852878 2909567 3227857
9.current portion of long term loan 45962000 69157173
10.Short term loan from bank 38307659 50021403 175982835 432938807
11.Liabilities for expenses 6871640 6824090 11101952 19090210
12.Provision for tax 566957 1321834
Total Current Liabilities 51445874 68777101 260102839 561709357
13.Sales 108469310 130886220 288301610 397645482
14.Cost of goods sold 73394125 85255819 217746129 319501550
Net working capital 3460471 22179813 -104071290 -262968074
Total ASSET 266900321 293368864 511092544 813156743
Total Share holders equity 42159582 47057574 102006619 99534279
Net Profit after tax 8511707 6263505 12033735 5447659
NO. of Shares outstanding 3000000 3000000 6000000 6000000
ROA 3.19% 2.14% 2.35% 0.67%
ROE 20.19% 13.31% 11.80% 5.47%
EPS 2.84 2.09 2.01 0.91
Ratio Analysis:
Current ratio:(C A/C L) 1.12 1.33 0.64 0.55
Quick ratio:((CA-Cash)/CL) 1.07 1.32 0.60 0.53
Accounts Receivable turnover:(sales/AR) 168 861 7 7
A/R Collection Period:(360/AR turnover) 2 0 49 51
Inventory Turnover ratio:(COGS/Inv) 1 1 3 2
Inventory conversion period:(360/Inv.Turnover) 246 330 120 229

Operating Cycle: (A/R collection per.+Inv. conv ) 249 331 169 280
Payment deferral period:((6+11)/14)*360 64 76 57 62
Cash conversion cycle: Operating cycle-pay.def 184 255 112 218

Current Ratio
1.40 1.40
1.20 1.20
Ratio

Ratio

1.00 1.00
 Current Ratio
1.40 1.40
1.20 1.20

Ratio

Ratio
1.00 1.00
0.80 0.80
0.60 0.60
0.40 0.40
0.20 0.20
0.00 0.00
2000 2001 2004 2005 2006 2007 2008 2000
 Post-IPO
2006 2007 2008

107842225 146476775 183184292

213682765 224999994 228287704

47291099 45553496 51102231

8884237 2244844 1129240
377700326 419275109 463703467

33605401 9669758 22918758

21913792
3566134 4004792 4919289
89084898 92709651 53306989
497808064 601742894 722270684
15300442 11075651 25500782
2265013 3124169 3335661
641629952 744240707 832252163
594093297 725610310 682626450
484565221 581238427 528528245
-272813863 -327210442 -369677936
837270737 885739200 946368464
98084987 99044115 107390574
5750706 6959129 15546459
6000000 6000000 6000000
0.69% 0.79% 1.64%
5.86% 7.03% 14.48%
0.96 1.16 2.59

0.59 0.56 0.56

0.57 0.56 0.56
3 3 3
129 112 120
4 4 3
80 91 125

210 202 245

36 13 33
173 190 212

Quick Ratio A/ R Turn

1.40 2008
1.20
Ratio

2007
1.00
 Quick Ratio A/ R Turn
1.40 2008
1.20
Ratio

2007
1.00
2006
0.80
2005
0.60
2004
0.40
2001
0.20
2000
0.00
2000 2001 2004 2005 2006 2007 2008 0 100 200 300 400 50
A/ R Turnover Inventory Turnover ratio
Axis Title

5
5
4
4
 A/ R Turnover Inventory Turnover ratio

Axis Title
5
5
4
4
3
3
2
2
1
1
0
200 300 400 500 600 700 800 900 1000 2000 2001 2004 2005 2006 2007
nover ratio
nover ratio

2005 2006 2007 2008

Prime Textiles spinning mills ltd.

Pre- IPO Post-IPO

1994 1995 2004
Current Assets:
1.Stocks inhand and in transit 168904642 226471947 322822334
2.Trade debtors 75736450 111282108 262514795
3.Advances, deposits & receivable 57279546 157605152 87707312
4.Investment at cost (Govt. securities) 1640000 1640000
5.Cash & bank balances 8531169 66711415 13529661
Total current assets 312091807 563710622 686574102

Current Liabilities
6.short term loan secured 117786206 147144965 121646322
7.Long term loan current portion 14479224
8.Creditors for goods 720989 182447 372596128
9.Other current liabilities 89238191 39933577 109993684
Total Current Liabilities 207745386 201740213 604236134
10.Sales 373191009 471286052 1481539512
11.Cost of Goods sold 219163902 330176706 1340166739
Net working capital 95815252 295258994 68808307
Total ASSET 880552056 1511054489 2533077054
Total Share holders equity 171516793 650518057 1077493586
Net Profit after tax 47078654 50402784 21520784
NO. of Shares outstanding 821710 1910000 3820000
ROA 5.35% 3.34% 0.85%
ROE 27.45% 7.75% 2.00%
EPS 57.29 26.39 5.63
Ratio Analysis:
Current ratio:(C A/C L) 1.50 2.79 1.14
Quick ratio:((CA-Cash)/CL) 1.46 2.46 1.11
Accounts Receivable turnover:(sales/AR) 5 4 6
A/R Collection Period:(360/AR turnover) 73 85 64
Inventory Turnover ratio:(COGS/Inv) 1 1 4
Inventory conversion period:(360/Inv.Turnover) 277 247 87

Operating Cycle: (A/R collection per.+Inv. conv ) 351 332 151

Payment deferral period:(8/11)*360 1 0 100
Cash conversion cycle: Operating cycle-pay.def 349 332 50

Current Ratio Q
Axis Title

3.00
Axis Title

3.00
2.50
2.50
2.00
2.00
1.50
1.50
1.00
1.00
0.50
 3.00

Axis Ti

Axis Titl
2.50
2.50
2.00
2.00
1.50
1.50
1.00
1.00
0.50
0.50
0.00
1994 1995 2004 2005 2006 2007 2008 0.00
1994 1995 20
 Post-IPO
2005 2006 2007 2008

409404916 411454048 282458440 565487208

147310027 292582372 316002830 337442913
58223875 56354221 103342271 116254023

16003549 11619338 11488512 25632305

630942367 772009979 713292053 1044816449

191979218 180642549 174081682 278832114

269177246 425490985 377454242 597445881

100833688 99243092 105992989 106616156
561990152 705376626 657528913 982894151
1335840425 1497565609 222100955 1578386314
1199325969 1353525886 179011224 1391832663
52948666 55014015 44274628 36289993
2412177192 2525101572 2383413335 2630793360
1085092033 1098878202 1114186027 1147201594
20757884 40558524 53351445 71090507
3820000 3820000 3820000 3820000
0.86% 1.61% 2.24% 2.70%
1.91% 3.69% 4.79% 6.20%
5.43 10.62 13.97 18.61

1.12 1.09 1.08 1.06

1.09 1.08 1.07 1.04
9 5 1 5
40 70 512 77
3 3 1 2
123 109 568 146

163 180 1080 223

81 113 759 155
82 67 321 69

Quick Ratio A/R Turnov

Axis Title

3.00
2008
2.50 2007

2.00 2006

1.50 2005

1.00 2004

1995
 3.00

Axis Titl
2008
2.50 2007

2.00 2006

1.50 2005

1.00 2004

1995
0.50
1994
0.00
1994 1995 2004 2005 2006 2007 2008 0 1 2 3 4 5
A/R Turnover Ratio Inventory Turnover Ratio
Axis Title

5
4
4
3
3
2
2
1
 5

Axis Titl
4
4
3
3
2
2
1
1
0
2 3 4 5 6 7 8 9 10 1994 1995 2004 2005 2006 2007
ver Ratio
5 2006 2007 2008