Financial position of the company in the previous six years:

  1996 1997 1998 1999 2000 2001

Sales 535,393,969 612,068,314 647,978,220 741,567,558 861,596,730 919,018,288
Cost of goods
sold 475,153,752 536,031,063 563,707,401 660,374,753 681,340,306 743,086,387
Gross Profit 60,240,217 76,037,251 84,270,819 81,192,805 180,348,965 175,931,901
Administrative &
selling expenses 16,647,234 25,659,825 16,308,521 19,474,267 51,208,900 71,362,031
Operating profit 43,864,776 50,687,436 67,962,298 61,718,538 129,140,065 104,725,641
Other income 271,793 310,010 509,723 1,620,621 1,831,269 670,630
Financial charges 45380760 45,555,669 50,887,297 43,615,193 39,007,623 51,552,054
Workers profit
participation - 259,108 883,693 993,039 4,602,364 2,720,190
Net Profit Before
Tax -1,515,948 4,872,659 16,701,033 18,730,927 87,361,347 51,124,027
Provision for
taxation - 317,000 - 2,028,645 16,734,429 12,264,702
Net Profit After
Tax -1,515,984 5,189,659 16,701,033 16,702,282 70,626,918 38,859,325

Financial resources:

Total 535,665,70 612,378,32 648,48794 761,144,59 863,520,54

100 100 100 100 100
revenues 8 4 3 0 0
Raw
382,677,63 71.4 429,073,22 70.0 443,004,72 68.3 984,503,77 63.6 435,035,66 50.3
Material
7 4 4 6 3 1 4 3 3 8
cost
Operatin
g 16,647,234 3.11 25,695,825 4.19 16308521 2.51 37,733,678 4.96 51,208,900 5.93
expenses
Financia
l 45,380,760 8.47 45,555,669 7.47 50887297 7.85 43,615,193 5.73 39,007,623 4.52
expenses
Net
profit (1,515,984 (0.28 10.1
4,872,659 0.80 16,701,033 2.58 18,730,927 2.46 87,361,347
before ) ) 2
tax
Financial Ratios 1996 1997 1998 1999 2000 2001
Cost of goods sold % of sales 88.8 87.6 85.1 86.9 79.1 82
Gross profit % of sales 11.3 12.4 14.8 13.1 20.9 19.1
Operating profit % of sales 8.19 8.23 9.89 8.12 14.8 11.4
Net profit before tax % of sales -0.28 0.8 2.52 2.46 10.1 5.5
Net profit after tax % of sales -0.28 0.85 2.52 2.2 8.2 4.2
Stock % of sales 4.2 3.15 8.97 13 6.64 9.17
Current ratio 0.51 0.64 0.26 0.82 1.05 1.06
Quick ratio 0.51 0.62 0.72 0.43 0.68 0.57
Debt equity ratio 0.82 0.76 1.05 1.22 0.72 0.78
Total debt asset ratio 0.42 0.43 0.51 0.55 0.42 0.46
Earning per share - 2.78 - 2.78 11.8  

Common Size Income Statement for five years

  %age 1996 1997 1998 1999 2000

Net Sales % 100 100 100 100 100
Less CGS % 88.75 87.58 85.13 86.91 79.08
Gross Profit % 11.25 12.42 14.87 13.09 20.92
Less Operating
% 3.06 4.19 4.98 4.97 5.93
Expenses
Net Operating profit % 8.19 8.23 9.98 8.12 14.99
Less Interest Expenses % 8.46 07.44 9.89 5.74 4.53
Plus Non-operating
% - 0.79 7.31 0.21 0.21
Income
Profit before tax % (0.27) 0.79 2.67 2.59 10.67
Income tax % - 0.052 0.09 0.27 1.94
Net Profit after tax % (0.27) 0.74 2.67 2.32 8.73