INTERNATIONAL STEEL LIMITED (ISL)

PERFORMANCE ANALYSIS

KEY INDICATORS 2023 2022 2021 2020 2019 2018

PROFITABILITY RATIO
Gross profit ratio % 13.82 13.54 19.33 8.76 11.22 15.52
Profit before tax to sales % 6.76 8.75 14.75 0.92 6.4 11.81
Profits after tax to sales % 4.58 5.92 10.7 1.03 4.63 8.88
EBITDA margin to sales % 11.79 11.77 17.96 8.31 10.49 14.62
Operating leverages % 0.99 -0.46 4.74 2.06 -0.95 0.56
Return on shareholders equity % 16.23 25.06 39.53 3.89 20.69 36.91
Operating profit on capital employed % 29.84 34.93 43.79 14.29 23.13 31.24
Return on total assets % 8.3 9.68 17.9 1.15 6.7 12.26

LIQUIDITY RATIO
Current ratio Times 1.25 1.2 1.38 0.94 1.09 1.13
Quick/Asid test ratio Times 0.26 0.16 0.33 0.3 0.29 0.21
Cash to current liability 0.017 0.01 0.018 0.005 0.022 0.007
Cash flow from operations to sales 0.29 -0.04 0.12 0.04 0.06 0.01
Cash flow from operation to capital expenditures 15.85 -1.88 15.62 0.89 1.53 0.05
Free cash flow to the firm Rs. Millions 22,907 -5,222 6,247 3,230 2,006 -5,308
Free cash flow to the equity holders Rs. Millions 18,526 -6,826 4,246 -188 487 -2,496

TURNOVER RATIOS
Inventory turnover ratio Times 3.83 2.62 3.3 2.9 3.32 2.83
Debtor turnover ratio(KE) Times 54.31 12.68 22.73 17.85 12.21 15.08
Debtor turnover(KE) Times 15 29 16 20 30 24
Debtor turnover ratio Times 70.32 92.63 71.37 51.04 76 69.79
Creditor turnover ratio Times 28.32 67.59 15.88 11.38 22.41 13.59
Total assets turnover ratio Times 1.81 1.64 1.67 1.12 1.45 1.38
Fixed assets turnover ratio Times 3.72 4.36 3.64 2.32 2.89 2.69
Capital employed turnover ratio Times 3.07 3.43 2.75 2.49 2.73 2.35

OPERATING CYCLE
Inventory turnover Days 95 139 111 126 110 129
Debtor turnover Days 5 4 5 7 5 5
Creditor turnover Days 13 5 23 32 16 27
Operating cycle Days 88 138 93 101 98 107

INVESTMENT /MARKET RATIO

Earning per share-basic and diluted Rs. 8.09 12.44 17.16 1.14 6.12 10.03
Price earning ratio Times 5.01 4.77 5.44 45.31 6.49 10.14
Market value per share at the end of the year Rs. 40.53 59.36 93.41 51.65 39.71 101.7
Market value per share high during the year Rs. 62.7 103.25 102.5 62.28 116.5 149.75
Market value per share low during the year Rs. 36.71 53.1 51.95 27.61 33.94 86
Break-up value per share-inncluding revaluation surplus Rs. 49.85 49.65 43.42 29.25 29.64 27.18
Break-up value per share-excluding revaluation surplus Rs. 44.82 44.1 40.62 26.37 26.94 25.02
Price to book ratio Times 0.81 1.2 2.15 1.77 1.34 3.74
Cash dividend % 55 65 100 - 30 45
Dividend yield % 13.57 10.95 10.71 - 7.55 4.42
Dividend cover Times 1.47 1.91 1.72 - 2.04 2.23
Dividend payout % 67.99 52.25 58.28 - 49.02 44.85
Dividend per share Rs. 5.5 6.5 10 - 3 4.5

CAPITAL STRUCTURE RATIO

Financial leverage ratio % 0.86 1.51 1.1 2.25 1.91 1.39
Total debt : Equity ratio 19.81 50.5 39.61 59.41 58.42 58.42
Net assets per share Rs. 49.85 49.65 43.42 29.25 29.61 27.18
Interest cover Times 3.43 7.44 14.79 1.21 3.89 11.76

EMPLOYEE PRODUCTIVITY RATIO

Production per employee Tons 441 584 718 588 785 893
Revenue per employee Rs. millions 112 130 102 68 81 85