LIQUIDITY RATIO

 ACID RATIO = (CURRENT ASSETS – INVENTORY) / CURRENT LIABILITIES

2010 = (808240 – 0)/139114 = 5.81
2011 = (1368081 – 0)/509901 = 2.68
2012 = (581148 – 0)/560727 = 1.04
2013 = (13717557- 560890)/11670914 = 1.13
2014 = (19529452 -786751)/11128142 = 1.68
Trend: Decrease to Increase
The acid-test ratio is a measure of how well a company can meet its short-term financial
liabilities. Acid-Test ratio provides a more rigorous assessment of a company's ability to
pay its current liabilities. It does this by eliminating all but the most liquid of current assets
from consideration. Obviously, it is vital that a company have enough cash on hand to
meet accounts payable, interest expenses, and other bills when they become due. The higher
the ratio, the more financially secure a company is in the short term. A common rule of thumb
is that companies with an Acid-Test or quick ratio of greater than 1.0 are sufficiently able to
meet their short-term liabilities. In general, low or decreasing acid- test ratios generally
suggest that a company is over-leveraged, struggling to maintain or grow sales, paying
bills too quickly, or collecting receivables too slowly. On the other hand, a high or
increasing acid-test ratio generally indicates that a company is experiencing solid top-line
growth, quickly converting receivables into cash, and easily able to cover its financial
obligations.
 CASH RATIO = (CASH + CASH EQUIVALENTS) / CURRENT LIABILITIES
2010 = 785048/139114 = 5.64
2011 = 1113382/509901= 2.18
2012 = 277518/560727 = 0.50
2013 = 6660627/11670914 = 0.57
2014 = 3845367/11128142 = 0.35
Trend: Decrease
The cash ratio indicates to creditors, analysts, and investors the percentage of a company’s
current liabilities that cash and cash equivalents will cover. A ratio above 1 means that the
company will be able to pay off its current liabilities with cash and cash equivalents. Although
there is no ideal figure, a ratio of not lower than 0.5 to 1 is usually preferred. The cash ratio
figure provides the most conservative insight into a company’s liquidity since only cash and
cash equivalents are taken into consideration.
PROFITABILITY RATIO
 NET PROFIT MARGIN = (NET PROFIT / REVENUE) X 100
2010 = (424607/0) X 100 = INVALID
2011 = (5443430) X 100 = INVALID
2012 = (44722/0) X 100 = INVALID
2013 = (778243/2592111) X 100 = 30.02%
2014 = [(665361)/4258554] X 100 = -15.62%

 OPERATING PROFIT MARGIN = (OPERATING INCOME / REVENUE) X 100

2010 = (672417/0) X 100 = INVALID
2011 = (877642/0) X 100 = INVALID
2012 = (506611/0) X 100 = INVALID
2013 = (2493313/2592111) X 100 = 96.18%
2014 = (1729132/4258554) X 100 = 40.63%
SOLVENCY RATIO
 TOTAL DEBT TO EQUITY = TOTAL LIABILITIES / TOTAL EQUITY
Trend : Decrease to Increase
2010 = 4529759 / 425607 = 10.64
2011 = 7198912 / 944183 = 7.63
2012 = 8376435 / 1157645 = 7.24
2013 = 42277238 / 2383627 = 17.74
2014 = 48967786 / 2441656 = 20.06
A higher debt-equity ratio indicates a levered firm, which is quite preferable for a company
that is stable with significant cash flow generation, but not preferable when a company that is
in decline. Conversely, a lower ratio indicates a firm less levered and closer to being fully
equity financed.

 LONG TERM DEBT TO EQUITY = TOTAL NON-CURRENT LIABILITIES /

TOTAL EQUITY
Trend: Decrease to Increase
2010 = 4390645/425607 = 10.32
2011 = 6689011/944183 = 7.08
2012 = 7815708/1157645 = 6.75
2013 = 30606324/2383627 = 12.84
2014 = 37839644/2441656 = 15.50
When the ratio is comparatively high, it implies that a business is at greater risk
of bankruptcy, since it may not be able to pay for the interest expense on the debt if its cash
flows decline. This is more of a problem in periods when interest rates are increasing, or
when the cash flows of a business are subject to a large amount of variation, or w hen an
entity has relatively minimal cash reserves available to pay down its debt obligations
  ROA = (NET INCOME / TOTAL PERIOD-END ASSETS) X 100
Trend : Decrease
2010 = (424607 / 4955366) X100 = 8.57%
2011 = (544343/8143094) X100 = 6.68%
2012 = (44722/9534080) X100 = 0.50%
2013 = (778243/44660865) X100 = 1.74%
2014 = [(665361)/51409442] X100 = -1.29%
Return on Assets (ROA) is a type of return on investment (ROI) that measures the profitability
of a business in relation to its total assets. This ratio indicates how well a company is
performing by comparing the profit it’s generating to the capital it’s invested in assets. The
higher the return, the more productive and efficient management is in utilizing economic
resources.
 ROCE = [NET OPERATING PROFIT / (TOTAL ASSETS – CURRENT
LIABILITIES)] X100
Trend : Decrease
2010 = [672417 / (4955366 – 139114)] X100 = 13.96%
2011 = [877642 / (8143094 – 509901)] X100 = 11.50%
2012 = [506611 / (9534080 – 560727)] X100 = 5.65%
2013 = [2493313 / (44660865 – 11670914)] X100 = 7.56%
2014 =[1729132 / (51409442 – 11128142)] X100 = 4.29%
Return on Capital Employed (ROCE), a profitability ratio, measures how efficiently a company
is using its capital. Simply put, ROCE measures how well a company is using its capital to
generate profits. The return on capital employed is considered one of the best profitability
ratios and is commonly used by investors to determine whether a company is suitable to invest
in or not.
 ROI = (NET INCOME / COST OF INVESTMENT) X 100
Trend : Decrease
2010 = (424607/4139125) X100 = 10.26%
2011 = (544343/6891214) X100 = 7.90%
2012 = (44722/1949362) X100 = 2.29%
2013 = (877673/18494628) X100 = 4.75%
2014 = [(669554)/20728253] X100 = -3.23%
Simple ROI compares returns to costs by making a ratio between cash inflows and outflows
that follow from the investment. By definition, the ROI ratio calculates as net investment gains
divided by total investment costs.