Professional Documents
Culture Documents
Financial Analysis of Mitchells
Financial Analysis of Mitchells
NON-CURRENT ASSETS
Fixed assets
Capital work in progress
Operating fixed assets at
cost
Accumulated Depreciation
Property, Plant and
Equipment
Intangible assets
Biological Assets
Longterm Loans and
Deposits
Total Non Current Assets
CURRENT ASSETS
Stores, spares and loose
tools
Stock in trade
Trade debts
Advances, deposits,
prepayments and other
receivables
Cash and bank balances
Total Current Assets
TOTAL ASSETS
31-Sept-12
Rupees in
%
'000
31-Sept-09
Rupees in
%
'000
31-Sept-08
Rupees in
%
'000
13,281,922
698,734,955
14,503,179
623,887,372
5,196,841
585,549,778
17,925,373
543,536,774
2.485%
75.348%
-36.963% (239,179,759)
43.480%
304,357,015
-33.156%
42.191%
(347,305,229)
351,429,726
1.632%
85.831%
-42.662% (314,961,729)
43.169%
308,925,643
1.900%
81.723%
1,332,093
597,550,737
-41.257% (294,626,169)
40.466%
302,924,568
0.203%
91.036%
-44.886% (269,058,792)
46.150%
316,490,986
0.714%
80.443%
1,285,370
9,505,667
0
0.158%
1.168%
0.000%
1,606,712
7,133,000
0
0.210%
0.934%
0.000%
1,060,580
6,875,933
751,753
0.162%
1.048%
0.115%
1,325,725
5,397,600
1,110,482
0.182%
0.742%
0.153%
1,657,156
5,132,000
716,334
0.230%
0.711%
0.099%
375,502,685
46.126%
332,168,534
43.511%
312,944,927
47.677%
329,521,634
45.270%
329,787,878
45.717%
12,491,433
1.534%
9,293,902
1.217%
12,426,849
1.893%
12,781,281
1.756%
13,305,761
1.845%
342,532,608
59,816,430
11,387,684
42.076%
7.348%
1.399%
312,065,976
63,244,881
33,068,115
40.877%
8.284%
4.332%
230,917,920
40,716,666
51,252,732
35.180%
6.203%
7.808%
260,382,527
58,674,183
53,330,558
35.771%
8.061%
7.327%
288,698,972
39,067,739
39,601,514
40.021%
5.416%
5.490%
13,217,682
1.816%
398,386,231 54.730%
727,907,865 100.000%
10,909,851
391,583,837
721,371,715
1.512%
54.283%
100.000%
12,354,863
1.518%
438,583,018 53.874%
814,085,703 100.000%
13,579,771
1.779%
431,252,645 56.489%
763,421,179 100.000%
8,127,597
1.238%
343,441,764 52.323%
656,386,691 100.000%
100,000,000
50,400,000
12.284%
6.191%
100,000,000
50,400,000
13.099%
6.602%
100,000,000
50,400,000
15.235%
7.678%
100,000,000
50,400,000
13.738%
6.924%
100,000,000
50,400,000
13.862%
6.987%
9,635,878
372,529,248
432,565,126
1.184%
45.760%
53.135%
9,635,878
299,459,093
359,494,971
1.262%
39.226%
47.090%
9,635,878
246,193,884
306,229,762
1.468%
37.507%
46.654%
9,635,878
209,806,010
269,841,888
1.324%
28.823%
37.071%
9,635,878
200,794,368
260,830,246
1.336%
27.835%
36.158%
NON-CURRENT LIABILITY
Deferred Tax
5.572%
45,360,346
5.707%
43,565,335
7.199%
4.256%
1.021%
2.621%
0
47,652,492
0.000%
5.853%
0
36,144,725
0.000%
4.735%
0
28,565,965
0.000%
4.352%
0
22,000,528
93,012,838
11.425%
79,710,060
10.441%
75,819,871
11.551%
50,478,690
6.935%
56,976,231
7.898%
140,987,776
17.319%
154,794,581
20.276%
166,615,728
25.384%
307,671,564
42.268%
288,711,025
40.023%
17.974%
288,507,739
814,085,703
0.147%
0.000%
35.439%
100.000%
21.814%
166,533,908
2,887,659
0
324,216,148
763,421,179
0.378%
0.000%
42.469%
100.000%
28,478,162
3.912%
30,700,000
0.000%
7,368,418
3.022%
18,907,813
146,322,898
1,197,065
0
47,253,906
15.731%
103,254,409
4,466,921
0
274,337,058
656,386,691
0.681%
0.000%
41.795%
100.000%
12.064%
87,816,200
12,099,523
0
407,587,287
727,907,865
1.662%
0.000%
55.994%
100.000%
12.449%
89,805,848
10,311,523
14,736,842
403,565,238
721,371,715
1.429%
2.043%
55.944%
100.000%
Sales
1,884,503,1
25
(1,421,735,
606)
462,767,51
9
100.00
0%
75.444
%
24.556
%
(84,567,76
6) 4.488%
(206,795,7 10.973
47)
%
(12,104,04
2) 0.642%
159,299,96 8.453%
4
0.850%
16,023,676
175,323,64 9.303%
0
(22,964,48
2) 1.219%
152,359,15 8.085%
8
(44,009,00
3) 2.335%
108,350,15 5.750%
5
1,794,248,
317
(1,400,131,
599)
394,116,71
8
100.00
0%
78.034
%
21.966
%
(66,738,99
1) 3.720%
(183,404,1 10.222
82)
%
(8,373,794) 0.467%
135,599,75
1 7.557%
1,376,861,
492
(1,073,513,
561)
303,347,93
1
100.00
0%
77.968
%
22.032
%
1,255,064,
266
(1,020,067,
729)
234,996,53
7
100.00
0%
81.276
%
0
1,038,637,
296
(848,823,
705)
189,813,5
91
100.00
0%
81.725
%
18.275
%
(60,990,98
3) 4.430%
(49,421,20
2) 3.938%
(135,992,9
53) 9.877%
(7,056,707) 0.513%
(124,569,6
12) 9.925%
(1,947,763) 0.155%
99,307,288 7.213%
59,057,960 4.706%
12,962,644 1.033%
8.165%
2.138%
7,513,001 0.546%
106,820,28
9 7.758%
(37,612,52
6) 2.732%
6.027%
1.935%
69,207,763 5.026%
(22,739,88
9) 1.652%
18,533,577 1.477%
(4,481,935) 0.357%
6,123,349
45,436,67
3
(32,323,2
68)
13,113,40
5
(4,775,86
5)
73,425,209 4.092%
46,467,874 3.375%
14,051,642 1.120%
8,337,540 0.803%
10,906,983
146,506,73
4
(38,360,46
8)
108,146,26
6
(34,721,05
7)
0.608%
72,020,604 5.738%
(53,487,02
7) 4.262%
(40,779,9
24) 3.926%
(108,184, 10.416
873)
%
(1,535,47
0) 0.148%
39,313,32
4 3.785%
0.590%
4.375%
3.112%
1.263%
0.460%
Balance Sheet
NON-CURRENT ASSETS
Fixed assets
Capital work in progress
Operating fixed assets at cost
Accumulated Depreciation
Property, Plant and Equipment
Intangible assets
Biological Assets
Longterm Loans and Deposits
Total Non Current Assets
CURRENT ASSETS
Stores, spares and loose tools
Stock in trade
Trade debts
Advances, deposits, prepayments and other
receivables
Cash and bank balances
Total Current Assets
TOTAL ASSETS
EQUITY AND LIABILITIES
SHARE CAPITAL AND RESERVES
Authorised capital
Issued, subscribed and paid-up capital
Reserves
Unappropriate Profits
Total Equity
31-Dec-12
Rupees in
'000
31-Dec-11
Rupees in '000
31-Dec-10
Rupees in
'000
31-Dec-09
Rupees in
'000
31-Dec-08
Rupees in
'000
13,281,922
698,734,955
(347,305,229)
351,429,726
1,285,370
9,505,667
0
375,502,685
14,503,179
623,887,372
(314,961,729)
308,925,643
1,606,712
7,133,000
0
332,168,534
1,332,093
597,550,737
(294,626,169)
302,924,568
1,060,580
6,875,933
751,753
312,944,927
5,196,841
17,925,373
585,549,778
543,536,774
(269,058,792) (239,179,759)
316,490,986
304,357,015
1,325,725
1,657,156
5,397,600
5,132,000
1,110,482
716,334
329,521,634
329,787,878
12,491,433
342,532,608
59,816,430
11,387,684
9,293,902
312,065,976
63,244,881
33,068,115
12,426,849
230,917,920
40,716,666
51,252,732
12,781,281
260,382,527
58,674,183
53,330,558
13,305,761
288,698,972
39,067,739
39,601,514
12,354,863
438,583,018
814,085,703
13,579,771
431,252,645
763,421,179
8,127,597
343,441,764
656,386,691
13,217,682
398,386,231
727,907,865
10,909,851
391,583,837
721,371,715
100,000,000
50,400,000
9,635,878
372,529,248
432,565,126
100,000,000
50,400,000
9,635,878
299,459,093
359,494,971
100,000,000
50,400,000
9,635,878
246,193,884
306,229,762
100,000,000
50,400,000
9,635,878
209,806,010
269,841,888
100,000,000
50,400,000
9,635,878
200,794,368
260,830,246
NON-CURRENT LIABILITY
Deferred Tax
45,360,346
Long term loan - Secured
Retirement and other benefits
Total Non Current Liabilities
CURRENT LIABILITIES
Short term running finances - secured
Creditors, Accrued and Other Liabilities
Accrued finance cost
Current portion of long term loans secured
Total Liabilities
TOTAL EQUITY AND LIABILITIES
43,565,335
47,253,906
28,478,162
30,700,000
0
7,368,418
22,000,528
18,907,813
50,478,690
56,976,231
0
47,652,492
93,012,838
0
36,144,725
79,710,060
0
28,565,965
75,819,871
140,987,776
154,794,581
166,615,728
307,671,564
288,711,025
146,322,898
1,197,065
0
166,533,908
2,887,659
0
103,254,409
4,466,921
0
87,816,200
12,099,523
0
89,805,848
10,311,523
288,507,739
814,085,703
324,216,148
763,421,179
274,337,058
656,386,691
407,587,287
727,907,865
14,736,842
403,565,238
721,371,715
INCOME STATEMENT
Sales
less:Cost of Goods Sold
Gross Profit
Less: Operating Expenses
Administration expenses
Distribution & Marketing
expenses
Other operating expenses
Operating Profit
Add: Other operating
income
Earning Before Interest
and Tax
less: Taxation
PROFIT FOR THE YEAR
31-Sept-12
31-Sept-11
31-Sept-10
1,884,503,1
25
(1,421,735,
606)
462,767,51
9
1,794,248,3
17
(1,400,131,
599)
394,116,71
8
1,376,861,4
92
(1,073,513,
561)
303,347,93
1
(84,567,766
)
(206,795,74
7)
(12,104,042
)
159,299,96
4
(66,738,991
)
(183,404,18
2)
(60,990,983
)
(135,992,95
3)
(8,373,794)
135,599,75
1
16,023,676
175,323,64
0
31Sept-09
31Sept-08
1,255,064,266
1,038,637,296
(1,020,067,729)
(848,823,705)
234,996,537
189,813,591
(49,421,202)
(40,779,924)
(124,569,612)
(108,184,873)
(7,056,707)
(1,947,763)
(1,535,470)
99,307,288
59,057,960
39,313,324
10,906,983
146,506,73
4
7,513,001
106,820,28
9
12,962,644
6,123,349
72,020,604
45,436,673
(22,964,482
)
152,359,15
8
(38,360,468
)
108,146,26
6
(37,612,526
)
(53,487,027)
(32,323,268)
69,207,763
18,533,577
13,113,405
(44,009,003
)
108,350,15
5
(34,721,057
)
(22,739,889
)
(4,481,935)
(4,775,865)
73,425,209
46,467,874
14,051,642
8,337,540
81.440
%
67.495
%
143.801
%
72.750
%
64.950
%
107.63
4%
32.564
%
26.471
%
59.814
%
20.83
8%
20.17
4%
23.80
4%
107.376
%
91.150
%
688.296
%
305.206
%
161.682
%
285.864
%
28.954
%
1061.85
8%
63.656
%
69.528
%
445.35
7%
244.92
1%
78.121
%
222.44
2%
49.561
%
25.704
%
359.58
0%
152.60
5%
22.694
%
135.09
7%
21.19
0%
15.14
5%
26.85
1%
50.22
4%
18.678
%
724.70
0%
16.364
%
427.76
3%
821.488
%
1199.54
6%
627.01
1%
780.65
8%
376.14
2%
457.33
3%
65.47
5%
41.33
3%
6.154
%
68.53
5%
58.50
8%
Balance Sheet
NON-CURRENT ASSETS
Fixed assets
Capital work in progress
Operating fixed assets at cost
Accumulated Depreciation
Property, Plant and Equipment
Intangible assets
Biological Assets
Longterm Loans and Deposits
Total Non Current Assets
CURRENT ASSETS
Stores, spares and loose tools
Stock in trade
Trade debts
Advances, deposits,
prepayments and other
receivables
Cash and bank balances
Total Current Assets
TOTAL ASSETS
31-Sept-12
31-Sept-11
Rupees in
'000
Rupees in
'000
Rupees in
'000
13,281,922
14,503,179
698,734,955
623,887,372
(347,305,229) (314,961,729)
351,429,726
308,925,643
1,285,370
1,606,712
9,505,667
7,133,000
0
0
Rupees in
'000
31-Sept12
Rupees in
'000
31-Sept31-Sept- 31-Sept11
10
09
% Increase/Decrease Over Base Year (2008)
1,332,093
5,196,841
17,925,373
597,550,737
585,549,778
543,536,774
(294,626,169) (269,058,792) (239,179,759)
302,924,568
316,490,986
304,357,015
1,060,580
1,325,725
1,657,156
6,875,933
5,397,600
5,132,000
751,753
1,110,482
716,334
375,502,685
332,168,534
312,944,927
329,521,634
-25.904% -19.091%
28.553% 14.783%
45.207% 31.684%
15.466%
1.501%
-22.435%
-3.044%
85.223% 38.991%
100.000% 100.000%
329,787,878 13.862%
0.722%
12,491,433
342,532,608
59,816,430
11,387,684
9,293,902
312,065,976
63,244,881
33,068,115
12,426,849
230,917,920
40,716,666
51,252,732
12,781,281
260,382,527
58,674,183
53,330,558
13,305,761
288,698,972
39,067,739
39,601,514
12,354,863
438,583,018
814,085,703
13,579,771
431,252,645
763,421,179
8,127,597
343,441,764
656,386,691
13,217,682
398,386,231
727,907,865
10,909,851
391,583,837
721,371,715
-92.569%
9.937%
23.182%
-0.471%
-36.000%
33.982%
-71.008%
7.730%
12.492%
3.987%
-20.000%
5.175%
4.944%
-5.107%
55.023%
-0.081%
-6.120%
18.647%
53.110%
-30.151%
8.094%
61.885%
-6.605%
-20.014%
4.221%
-3.942%
-9.808%
50.186%
-71.244%
13.245%
12.002%
12.852%
-16.498%
24.473%
10.130%
5.829%
29.421%
-25.502%
-12.294%
-9.009%
34.668%
21.154%
1.737%
0.906%
100,000,000
50,400,000
100,000,000
50,400,000
100,000,000
50,400,000
100,000,000
50,400,000
100,000,000
50,400,000
9,635,878
372,529,248
432,565,126
9,635,878
299,459,093
359,494,971
9,635,878
246,193,884
306,229,762
9,635,878
209,806,010
269,841,888
9,635,878
200,794,368
260,830,246
0.000%
0.000%
0.000%
0.000%
0.000%
0.000%
85.528%
65.842%
0.000%
0.000%
49.137%
37.827%
0.000%
0.000%
22.610%
17.406%
0.000%
0.000%
4.488%
3.455%
NON-CURRENT LIABILITY
Deferred Tax
45,360,346
Long term loan - Secured
Retirement and other benefits
Total Non Current Liabilities
CURRENT LIABILITIES
Short term running finances secured
Creditors, Accrued and Other
Liabilities
Accrued finance cost
Current portion of long term
loans - secured
Total Liabilities
TOTAL EQUITY AND LIABILITIES
43,565,335
47,253,906
28,478,162
30,700,000
0
7,368,418
47,652,492
93,012,838
36,144,725
79,710,060
28,565,965
75,819,871
22,000,528
50,478,690
140,987,776
154,794,581
166,615,728
307,671,564
288,711,025
-51.166%
146,322,898
1,197,065
0
166,533,908
2,887,659
0
103,254,409
4,466,921
0
87,816,200
12,099,523
0
288,507,739
814,085,703
324,216,148
763,421,179
274,337,058
656,386,691
407,587,287
727,907,865
89,805,848
10,311,523
-46.384%
-42.290%
6.567%
31-Sept-12
31-Sept-11
31-Sept-10
31-Sept-09
31-Sept-08
INCOME STATEMENT
Sales
less:Cost of Goods Sold
Gross Profit
Less: Operating Expenses
Administration expenses
Distribution & Marketing expenses
Other operating expenses
Operating Profit
Add: Other operating income
Earning Before Interest and Tax
less: Finance Cost
Earning Before Tax
less: Taxation
PROFIT FOR THE YEAR
Dividends
Average Fixed Assets
Average Inventory
Tax Rate
Average Total Assets
COGS
Finance Cost
1,884,503,125
(1,421,735,606)
462,767,519
1,794,248,317
(1,400,131,599)
394,116,718
1,376,861,492
(1,073,513,561)
303,347,931
1,255,064,266
(1,020,067,729)
234,996,537
1,038,637,296
(848,823,705)
189,813,591
(84,567,766)
(206,795,747)
(12,104,042)
159,299,964
16,023,676
175,323,640
(22,964,482)
152,359,158
(44,009,003)
108,350,155
(66,738,991)
(183,404,182)
(8,373,794)
135,599,751
10,906,983
146,506,734
(38,360,468)
108,146,266
(34,721,057)
73,425,209
(60,990,983)
(135,992,953)
(7,056,707)
99,307,288
7,513,001
106,820,289
(37,612,526)
69,207,763
(22,739,889)
46,467,874
(49,421,202)
(124,569,612)
(1,947,763)
59,057,960
12,962,644
72,020,604
(53,487,027)
18,533,577
(4,481,935)
14,051,642
(40,779,924)
(108,184,873)
(1,535,470)
39,313,324
6,123,349
45,436,673
(32,323,268)
13,113,405
(4,775,865)
8,337,540
34,457,318
353835609.5
327299292
28.88%
788753441
20,182,832
322556730.5
271491948
32.10%
709903935
10,014,167
321233280.5
245650223.5
32.85%
692147278
4,755,631
329654756
274540749.5
24.10%
724639790
10,080,000
164893939
144349486
36.41%
360685857.5
1,421,735,606
22,964,482
1,400,131,599
38,360,468
1,073,513,561
37,612,526
1,020,067,729
53,487,027
848,823,705
32,323,268
Ratio Analysis
Mitchells Fruit Farms
Introduction
Since its inception in 1933, Mitchells has come a long way to reach and sustain its position as one of the top Food and
Beverage Company in the industry. Along with its outstanding physical performance it has maintained steady financials
even when the country is facing major economic perils. Mitchells is the only major food company in Pakistan today with
fully integrated operations having its own growing and processing facilities at one location. Modern high-volume industrial
equipment, professional management and a trained workforce all combine to ensure that Mitchells continues its
dominance as the innovator, market leader and trend setter.
Liquidity Measures
The liquidity ratios show the ability of a company to satisfy short term financial obligations. The current ratio is an
indicator of the companys priorities and shows how liquid the company is. The current ratio of Mitchells fruit farms in
2008 was 0.97 but even while facing adverse economic conditions they have successfully managed to consistently increase
the ratio to 0.98 in the next year and by 2012, it had risen to 1.55. A rise in the current ratio means that either the
company has increased its current assets while the current liabilities have remained constant, or that the current liabilities
of the company have decreased while the current assets has remained constant. A quick look on the company financials
shows that while the current liabilities have fluctuated over the five year period, the overall trend shows that they have
fallen. On the other hand, the current assets show a rising trend from 2008 till 2012. This merely strengthens the
argument that the company has improved its liquidity position by getting itself out of the danger zone i.e. a liquidity ratio
below 1 and is well in the safe zone with a current ratio of 1.55.
The quick ratio provides us with a clearer view of the companys liquidity position and in the case of Mitchells fruit farms;
it seems to be in a highly detrimental state. The quick ratio has increased from 0.25 to 0.33. Though this does represent an
improvement in the ratio, the company still needs to work on its financial state and reduce its dependence on stock. In
comparison to the industry, we can see that Mitchells has performed well and can be categorized as one of the top
performers of the industry.
Asset Management
The asset management ratios of a company attempt to represent the companys success in managing its assets to
generate sales. These ratios cam provide insight into the companys management of the credit policy and inventory
management. The days in receivables ratio analyses the companys credit policy and its current state in terms of credit.
The days in receivable ratio of the company suggests an improvement in the credit position of the company. In 2008 the
company was able to successfully recover its money in 14 days. Now this has fallen down to 12 days. Though there hasnt
been a massive change, it still represents an improvement in the books. Another positive is that the main competitor of
Mitchells; national foods has a days in receivable ratio of 14.68 compared to 12 of Mitchells fruit farms. At the same time
however, the days in payables ratio has showed a steadier more horizontal trend across the five years as the change in the
ratio is only by a single day (fallen from 39 days to 38 days). the across the board improvements in all the ratios is
apparent in the operating cycle as well which shows a mammoth improvement from 99 days down to 62 days whilst the
cash conversion cycle has also fallen from 60 to 24 days. Here also, the industry average for the cash conversion cycle is
below that of Mitchells which suggests financial stability for the company.
The fixed asset turnover ratio of Mitchells fruit farms is also rising which shows that the company aims to invest in the
long run. This improves and strengthens investor confidence which would also improve the companys position on the
stock exchange. The asset turnover ratio has steadily risen over the five year period and currently stands at 2.31 compared
to 1.44 from 2008. An increase in the capital structure of the firm means that the company has a long run performance
strategy. This means that Mitchells is sacrificing its short term gains in order to secure grater long term gains. Similar to
this ratio is the total asset turnover ratio which has also steadily increased across the five years due to a rise in both the
current assets and the fixed assets and a rise in the total sales as well.
Debt Management
The changes in the debt to equity ratio and the debt to asset ratio represent a major change in the capital structure of the
business. The overall trend visible in both these ratios is significantly positive, via this we can infer that the company
wishes to decrease its reliance on debt and is paying off creditors and decreasing the load rather than taking on more
loans and adversely affecting the performance and financials of the company. The debt to equity ratio has fallen from 1.77
to 0.88. The change means that either the debt has fallen or the total equity has risen; and in our case we can see that
since the company has paid off its loans thereby decreasing the total debt of the company, the ratio has consistently fallen
over the five years. There is a similar situation in the case of the debt to asset ratio where not only has the debt of the
company decreased, but this is coupled with an increase in the assets. The ratio has fallen from 63.84% down to 46.86%.
This will not only strengthen investor confidence but at the same time it will also improve the companys position in the
market. Also, in comparison to the industry, Mitchells has a lower TIE ratio and a lower debt to equity ratio; both of which
suggest that the company is not reliant on loans and that a smaller chunk of the income goes into paying out loans and
interest.
Profitability Ratios:
The profitability ratios of a company indicate a dollar of income on each dollar of net sales. Similar to ratios in other
categories, the gross profit margin and the net profit margin have shown a vast improvement even while the local
economy has been stagnant and has faced various obstacles. The gross profit margin indicates a 34.4% increase across the
five years which means an annual increase of almost 7%. Similarly, in the case of the net profit margin the margin has
increased from 0.80% to 5.75%. This is a whopping increase of 618.75%. This is a marvelous improvement and this further
improves the position of Mitchells for the running of the market leader in the food and beverages category. Also, during
the same time period, national foods has also improved both its gross profit and net profit margins however the
percentage change increase in both the cases is higher of Mitchells. The EBITDA margin to sales ratios of both companies
have improved which means that now, not only is the income of the company rising, but it is extracting more and more
profit from sales. However, in contrast to the industrial average as declared by the state bank of Pakistan it seems that
both Mitchells fruit farms and its competitors have a lot of catching up to do. The report suggests that the industry
average net profit margin for the 2011 fiscal year is 10.38%. This suggests that even though Mitchells has performed well,
in the previous years, there is still room for further growth.
An analysis of the PE ratios of both companies suggest that whilst both companies have improved their performance,
Mitchells has come out n top with not only a higher PE ratio keeping investors happy but has increased its ratio quite
significantly. This will therefore not only keep current investors happy but will also attract newer investors.
Conclusion:
In my opinion, Mitchells Fruit farms is an excellent company which has proved its credibility not only by smartly investing
in the future but also through making sound financial decisions which will attract new investors and therefore be a risk
free way of raising capital and further improving on the problems that it faces. . They have realized that optimum
profitability and liquidity can only be reached by investing smartly into physical capital. In a troubled economy, Mitchells
has proved itself to be the market leader in the food and beverages industry by outgrowing and outperforming each and
every one of its competitors
RATIOS
LIQUIDITY RATIOS
Current Ratios
Quick Ratios
ASSET MANAGEMENT RATIOS
Fixed Asset Turn Over
Asset Turnover
Inventory Turnover
Receivable Turnover
Payable Turnover
Operating Cycle
DSI
DSO
DPO
Operating Cycle
Cash Conversion Cycle
DEBT MANAGEMENT RATIOS
Debt to Equity Ratio
Debt to Assets Ratio
TIE
PROFITABILITY RATIOS
Net Profit Margin
Gross Profit Margin
Return on Capital Employed
Return on Equity
Return on Assets
1.52
0.33
1.33
0.37
1.25
0.41
0.98
0.34
0.97
0.25
5.33
2.31
4.15
31.50
9.72
5.56
2.35
4.49
28.37
8.41
4.29
2.10
4.65
33.82
10.40
3.81
1.72
3.92
21.39
11.62
6.30
1.44
2.94
26.59
9.45
87.94
11.59
37.57
99.52
61.96
81.35
12.87
43.41
94.22
50.80
78.51
10.79
35.11
89.31
54.20
93.17
17.06
31.42
110.23
78.81
124.14
13.73
38.62
137.87
99.25
0.88
0.47
7.63
1.12
0.53
3.82
1.14
0.53
2.84
1.70
0.63
1.35
1.77
0.64
1.41
5.75%
24.56%
33.36%
25.05%
13.31%
4.09%
21.97%
33.36%
20.42%
9.62%
3.37%
22.03%
27.96%
15.17%
7.08%
1.12%
18.72%
22.48%
5.21%
1.93%
0.80%
18.28%
14.30%
3.20%
1.16%
21.5
16.74
31.80%
360
8.58
41.95
14.57
5.49
27.49%
80
7.13
11.22
9.22
7.48
21.55%
69
6.08
11.36
2.79
26.49
33.84%
73.9
5.35
13.80
1.65
35.61
120.90%
58.75
5.18
11.35
0.97
0.16
Debt management
Debt ratio
Debt/equity ratio
Times Interest Earned
1.48
2.1
5.61
6.89
57.69
52.98
6.33
59.30
5.03
72.54
-13.24
2.03
Profitability Ratios:
GP Margin
NP Margin
ROA
ROCE
27.39%
10.93%
25.30%
75.75%
Market
EPS
0.5409