key operational and financial data - aisha steel · creditors turnover cost of goods sold / average...
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Key Operational and Financial DataOOppeerraattiioonn SSuummmmaarryy
Production
Sales
SSuummmmaarryy ooff SSttaatteemmeenntt ooff PPrrooffiitt or LLoossss
Revenue
Cost of sales
Gross profit
Profit / (loss) from operations
(Loss) / profit before taxation
Profit / (loss) for the year
SSuummmmaarryy ooff FFiinnaanncciiaall PPoossiittiioonn
AAsssseettss Non-Current Assets
Current Assets
TToottaall AAsssseettss EEqquuiittyy aanndd LLiiaabbiilliittiieess
Shareholders' Equity
Non-Current Liabilities
Current Liabilities
TToottaall EEqquuiittiieess aanndd LLiiaabbiilliittiieess
TToonnss
202,164
205,456
217,370
217,043
209,524
214,316
195,906
181,259
134,272
138,923
127,384
126,129
20,231
18,553
1,678
1,453
(412)
254
18,904
15,590
3,314
2,995
1,916
1,284
14,076
11,989
2,087
1,831
882
1,020
9,634
8,654
980
829
(192)
(155)
9,492
9,451
41
(115)
(1,488)
(1,211)
9,259
9,200
59
890
(409)
(347)
21,567
11,164
3322,,773311
14,366
6,060
2200,,442266
11,959
6,225
1188,,118844
15,352
10,884
4,468
11,170
4,167
1155,,333377
11,009
5,272
1166,,228811
2,811
5,628
6,898
8,747
7,273
16,711
3322,,773311
8,491
4,934
7,001
2200,,442266
6,700
5,078
6,406
1188,,118844
2,655
5,355
7,342
1155,,335522 1155,,333377
2,535
5,504
8,242
1166,,228811
22001199 22001188 22001177 22001166 22001155 22001144
22001199 22001188 22001177 22001166 22001155 22001144
22001199 22001188 22001177 22001166 22001155 22001144
Rs. in million
Rs. in million
107
Performance Analysis
ECONOMIC VALUE ADDED
PPrrooffiitt ffrroomm ooppeerraattiioonnss aafftteerr ttaaxx
CCoosstt ooff caappiittaall
EEccoonnoommiicc vaalluuee vddddeedd
Total assets
Less: Current liabilities
NNeett caappiittaall innvveesstteedd
WWAACCCC
CCoosstt ooff caappiittaall
22001199
2,119
(1,571)
554488
32,731
(16,711)
1166,,002200
99..8811%%
11,,557711
2018
2,363
(1,647)
716
20,426
(7,001)
13,425
12.27%
1,647
2017
1,968
(1,429)
539
18,184
(6,406)
11,778
12.13%
1,429
Rs. in million
211
9
23
63
196
8
1,57
1
1,6
47
1,4
29
548716
539
2019 2018 2017
Profit from operations after tax Cost of Capital Economic Value Added
CommentsEconomic value added has decreased from last year mainly due to decrease in operating profi t before tax. However, cost of capital of the Company has also decreased due to decrease in weighted average cost of capital (WACC) of the Company. WACC has reduced due to increase in debt based capital in comparison to comparative period.
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Ratio AnalysisPPrrooffiittaabbiilliittyy RRaattiiooss FFoorrmmuullaa 22001199 2018 2017 2016 2015 2014
Gross Profit Ratio (%) Gross Profit or (Loss) / Net Sales 8.30% 17.53% 14.83% 10.17% 0.43% 0.64%
Net Profit to Sales (%) Net Profit or (Loss) / Net Sales 1.25% 6.79% 7.25% -1.61% -12.76% -3.75%
Profit Before Tax to Sales (%) Profit or (Loss) Before Tax / Net Sales -2.04% 10.13% 6.27% -2.00% -15.68% -4.42%
EBITDA Margin to Sales (%) EBITDA / Net Sales 9.69% 18.11% 15.81% 12.36% 2.56% 13.33% Operating leverage ratio
(Times) Change in EBITDA /
Change in Net Sales (1.10) 0.25 0.23 6.68 (4.25) 0.24
Return on Equity (%) Profit or (Loss) After Tax / Shareholder's equity 2.90% 15.12% 15.22% -5.85% -43.08% -13.69%
Return on Capital employed (%) EBIT / Capital employed 9.07% 22.31% 15.54% 10.35% -1.36% 11.07%
Liquidity Ratios Formula 2019 2018 2017 2016 2015 2014
Current ratio (Times) Current Assets / Current Liabilities 0.67 0.87 0.97 0.61 0.60 0.64
Quick / Acid test ratio (Times) Liquid Assets / Current Liabilities 0.23 0.23 0.38 0.20 0.23 0.21 Cash to Current Liabilities
(Times) Cash and Bank / Current
Liabilities 0.01 0.01 0.13 0.01 0.02 0.01
Cash Flow from Operations to Sales (Times)
Cash Flow from Operations / Net Sales
(0.19) (0.04) 0.08 - (0.19) (0.07)
0.6
4%
0.4
3%
10.17
%
14.8
3%
17.5
3%
8.3
0%
-3.7
5%
-12.
76%
-1.6
1%
7.25
%
6.7
9%
1.25%
-4.4
2%
-15.
68
%
-2.0
0%
6.2
7% 10.13
%
-2.0
4%
13.3
3%
2.56
% 12.3
6%
15.8
1%
18.11
%
9.6
9%
-13.
69
% -5.8
5%
15.2
2%
15.12
%
2.9
0%11
.07%
-1.3
6%
10.3
5% 15.5
4% 22.3
1%
9.0
7%
Gross Profit Ratio (%) Net Profit to Sales (%) Profit Before Tax to Sales (%)EBITDA Margin to Sales (%) Return on Equity (%) Return on Capital employed (%)
43
.08
%
0.64 0.60 0.61
0.97 0.87
0.67
0.21 0.23 0.20
0.38 0.23 0.23
0.01 0.02 0.01
0.13 0.01 0.01
(0.07)(0.19)
-0.08
(0.04)
(0.19)
(0.50)
-
0.50
1.00
2014 2015 2016 2017 2018 2019
Current ratio (Times) Quick / Acid test ratio (Times)Cash to Current Liabilities (Times) Cash Flow from Operations to Sales (Times)
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Performance Analysis
IInnvveessttmmeenntt // MMaarrkkeett RRaattiiooss FFoorrmmuullaa 22001199 2018 2017 2016 2015 2014
Basic Earnings / (Loss) per Share (Rs. / Share)
Earnings Attributable to Ordinary Shareholders / Weighted
Average Number of Shares
0.26 1.57 1.74 (1.35) (4.97) (1.62)
Diluted Earnings / (Loss) per Share (Rs. / Share) (N1)
Diluted Earnings Attributable to Ordinary Shareholders / Weighted Average Number of Shares
NA 1.54 1.31 NA NA NA
Price Earnings Ratios (Times) Market Price / Basic Earnings or (Loss) per Share
35.38 10.04 10.39 (6.26) (1.62) (5.48)
Price to Book Value Ratio (Times)
Market Price / Book Value per Share 0.85 1.64 1.99 10.68 5.96 1.33
Dividend Yield Ratio Total Annual Dividend / Market Price Since no dividend has been paid, therefore, dividend
yield ratio, dividend payout ratio and cash dividend per share ratio are not applicable.
Dividend Payout Ratio Total Annual Dividend / Annual Income
Cash Dividend per Share Cash Dividend per Share
Break-up Value per Share (with Revaluation Surplus) (Rs. / Share)
Equity including surplus on revaluation of fixed assets / Number of shares
11.43 10.20 9.77 9.77 10.37 9.36
Break-up Value per Share (without Revaluation Surplus) (Rs. / Share)
Equity excluding surplus on revaluation of fixed assets / Number of shares
9.45 8.33 7.99 8.36 8.93 7.91
Free Cash Flows (11,103) (3,399) 3,051 (75) (429) (655)
Basic earnings / (loss) per share Diluted earnings / (loss) per share Price to book ratio
(1.62)(4.97)
(1.35)
1.74 1.57 0.26 - - - 1.31 1.54 -1.33
5.96
10.68
1.99 1.640.85
(10.00)
10.00
30.00
2014 2015 2016 2017 2018 2019
9.36 10.37 9.77 9.77 10.20 11.43
7.91 8.93 8.36 7.99 8.33 9.45
(5.48)
(1.62)
(6.26)
10.39 10.04
35.38
-9.00
-4.00
1.00
6.00
11.00
16.00
21.00
26.00
31.00
36.00
2014 2015 2016 2017 2018 2019
Break up Value per share (w/o Revaluation Surplus) Break up Value per share (with Revaluation Surplus)
Price Earning Ratios
N1 - Due to losses dilution of earnings per share had anti-dilutive eff ect for fi nancial year 2014, 2015, 2016 and 2019, therefore, the same has not been disclosed and presented.
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CCaappiittaall SSttrruuccttuurree RRaattiiooss FFoorrmmuullaa 22001199 2018 2017 2016 2015 2014
Financial Leverage Ratio (Times) Total Debt/ Total Equity 2.49 1.22 1.15 3.65 3.37 3.50
Weighted Average Cost of Debt (%) Total Interest / Total Debt 11% 10% 8% 8% 14% 15%
Debt to equity ratio Total Long Term Debt / Equity 47:53 39:61 44:56 69:31 67:33 69:31
Interest Cover Ratio (Times) Profit from Operations / Finance Cost 0.78 2.78 1.93 0.81 (0.08) 0.69
Market Value per share (Symbol: ASL) - High (Rs. / Share) 17.77 23.94 29.63 10.76 11.27 10.36
- Low (Rs. / Share) 7.45 14.85 7.65 6.80 6.15 7.50
- Closing (Rs. / Share) 9.20 15.77 20.34 7.73 8.42 8.60
Total Volume Traded (Number of shares in million) 413.82 1,276.43 2,670.00 44.14 32.00 16.84
AAccttiivviittyy RRaattiiooss FFoorrmmuullaa 22001199 2018 2017 2016 2015 2014 Total Assets Turnover
Ratio (Times) Net Sales / Total Assets 0.62 0.93 0.77 0.63 0.62 0.57
Fixed Assets Turnover Ratio (Times) Net Sales / Total Fixed Assets 1.00 1.41 1.34 0.99 0.95 0.91
Inventory Turnover Cost of Goods Sold / Average Inventory 3.30 3.88 3.67 3.30 3.27 3.24
Inventory Turnover (Days) Average Inventory / Cost of
Goods Sold x 365 110.49 93.98 99.40 110.66 111.63 112.48
Debtors Turnover Sales / Average Receivable 57.49 146.74 122.72 125.94 70.84 48.35
Debtors Turnover (Days) Average Receivables / Sales x 365 6.35 2.49 2.97 2.90 5.15 7.55
Creditors Turnover Cost of Goods Sold / Average Creditors 15.18 6.54 3.79 3.14 2.58 2.60
Creditors Turnover (Days) Average Creditors / Cost of
Goods Sold x 365 24.04 55.85 96.42 116.35 141.31 140.16
Operating Cycle (Days) Days in Inventory + Days in Receivables
116.84 96.47 102.37 113.56 116.78 120.03
3.50 3.37 3.65
1.15 1.22 2.49
15% 14% 8% 8% 10% 11%0.69 0.78
(0.08)
0.81 1.93
2.78
(2.00)
-
2.00
4.00
2014 2015 2016 2017 2018 2019
Financial Leverage Ratio (Times) Weighted Average Cost of Debt (%) Interest Cover Ratio (Times)
-
50.00
100.00
150.00
200.00
250.00
300.00
350.00
400.00
2014 2015 2016 2017 2018 2019
Operating Cycle (Days) Creditors Turnover (Days)Debtors Turnover (Days) Inventory Turnover (Days)
-
0.20
0.40
0.60
0.80
1.00
1.20
1.40
1.60
2014 2015 2016 2017 2018 2019
Total Assets Turnover Ratio (Times)Fixed Assets Turnover Ratio (Times)
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DuPont Analysis
2.90%
Return on
Equity
3.74%
LeverageFactor
0.78%
Return on
Assets
32,731
Total Assets
8,747
Owner's Equity
7,273
Non- Current
Liabilities
16,711
Current Liabilities
21,567
Non- Current Assets
11,164
Current Assets
20,231
Sales
19,977
Total Cost
23,984
Total Liabilities
32,731
Total Assets
20,231
Sales
254
Net Profit
8,747
Total Equity
0.62
Assets Turnover
1.26%
Net Profit
Margin
113
Performance Analysis
DUPONT TREND ANALYSIS
AnalysisImproved net profi t margin till 2018 faced downturn during 2019. Decline in profi tability was mainly on account of lower sales volume resulting from political uncertainty, signifi cant PKR devaluation and hike in borrowing cost. All these factors blocked the consumption side of the economy and also evaded the buying capacity of the consumer.
Asset Turnover has improved gradually year by year, which shows incremental approach to growth and focus to better utilization of resources each year. However, decline in asset turnover in the current year pertains to capital expenditure incurred on expansion of the Company’s facilities, the commissioning of which was announced in the last quarter of the fi nancial year.
Improving leverage factor over the years deteriorated in 2019. This was primarily on account of increased short-term borrowings which is in line with the increase in inventory levels together with higher working capital required for operational needs on account of signifi cant PKR devaluation. Further, addition of a syndicate fi nancing for the Expansion Project has also contributed to the increase in leverage factor in the current year.
ConclusionThe overall DuPont analysis depicts rise in overall performance of the Company. From year 2014 to 2018, return on equity has increased to 2.90% from loss of 13.69%. During the year, return on equity has decreased which is on account of decrease in profi t after tax.
Dupont Analysis (Rs. in Million) 22001199 22001188 22001177 22001166 22001155 22001144
A Non-current Liabilities 7,273 4,934 5,078 5,355 5,628 5,504 B Current Liabilities 16,711 7,001 6,406 7,342 6,898 8,242
CC == AA++BB TToottaall LLiiaabbiilliittiieess 2233,,998844 11,935 11,484 12,697 12,526 13,746 D Non-current Assets 21,567 14,366 11,959 10,884 11,170 11,009 E Current Assets 11,164 6,060 6,225 4,468 4,167 5,272
FF == DD ++ EE TToottaall AAsssseettss 3322,,773311 20,426 18,184 15,352 15,337 16,281
GG == CC --FF OOwwnneerrss'' EEqquuiittyy 88,,774477 8,491 6,700 2,655 2,811 2,535
H Sales 20,231 18,904 14,076 9,634 9,492 9,259 I Total Cost 19,977 17,620 13,056 9,789 10,703 9,606
JJ == HH -- II NNeett PPrrooffiitt // ((LLoossss)) 225544 1,284 1,020 (155) (1,211) (347)
KK == JJ // HH NNeett PPrrooffiitt // LLoossss MMaarrggiinn ((%%)) 11..2266%% 6.79% 7.25% -1.61% -12.76% -3.75%
LL == HH // FF AAsssseettss TTuurrnnoovveerr ((TTiimmeess)) 00..6622 0.93 0.77 0.63 0.62 0.57
MM == FF // GG LLeevveerraaggee FFaaccttoorr ((TTiimmeess)) 33..7744 2.41 2.71 5.78 5.46 6.42
NN == KK xx LL RReettuurrnn oonn AAsssseettss ((%%)) 00..7788%% 6.29% 5.61% -1.01% -7.90% -2.13%
OO == MM xx NN RReettuurrnn oonn EEqquuiittyy ((%%)) 22..9900%% 15.12% 15.22% -5.84% -43.08% -13.69%
-13.69%
-43.08%
-5.84%
15.22%
15.12%
2.90%
-50.00%
-40.00%
-30.00%
-20.00%
-10.00%
0.00%
10.00%
20.00%
30.00%
Dupont Graph (%)
2014 2015 2016 2017 2018 2019
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Horizontal AnalysisSTATEMENT OF FINANCIAL POSITION
STATEMENT OF PROFIT OR LOSS
AAsssseettss Non-current assets 21,567 50% 14,366 20% 11,959 10% 10,884 -3% 11,170 1% 11,009 5%
Current assets 11,164 84% 6,060 -3% 6,225 39% 4,468 7% 4,167 -21% 5,272 36%
TToottaall asssseettss 3322,,773311 6600%% 20,426 12% 18,184 18% 15,352 0% 15,337 -6% 16,281 13%
EEqquuiittyy aanndd liiaabbiilliittiieess
Shareholders' equity 8,747 3% 8,491 27% 6,700 152% 2,655 -6% 2,811 11% 13%
Non-current liabilities 7,273 47% 4,934 -3% 5,078 -5% 5,355 -5% 5,628 2%
8%
Current liabilities 16,711 139% 7,001 9% 6,406 -13% 7,342 6% 6,898 -16% 18%
3322,,773311 6600%% 20,426 12% 18,184 18% 15,352 0% 15,337 -6%
2,535
5,504
8,242
16,281 13%
Revenue 20,231 7% 18,904 34% 14,076 46% 9,634 1% 9,492 3% 9,259
Cost of sales (18,553) 19% (15,590) 30% (11,989) 39% (8,654) -8% (9,451) 3% (9,200)
GGrroossss pprrooffiitt // ((lloossss)) 11,,667788 --4499%% 3,314 59% 2,087 113% 980 2,290% 41 -31% 59
Selling and distribution cost (25) 32% (19) 0% (19) -5% (20) - 47% (38) 6% (36)
Administrative expenses (249) 30% (192) 2% (188) 20% (157) 27% (124) -11% (140)
Other expenses (3) -98% (143) 120% (65) -100% - 0% - 0% -
Other income 52 49% 35 119% 16 -36% 25 317% 6 -99% 1,007
PPrrooffiitt // ((LLoossss)) ffrroomm ooppeerraattiioonnss 11,,445533 --5511%% 2,995 63% 1,831 121% 829 821% (115) -- 113% 890
Finance cost (1,865) 73% (1,079) 14% (949) -7% (1,021) -26% (1,373) 6% (1,299)
PPrrooffiitt /((LLoossss)) bbeeffoorree ttaaxxaattiioonn ((441122)) --112211%% 1,917 117% 882 558% (192) 87% (1,488) -264% (409)
Taxation 666 205% (632) 558% 138 273% 37 -87% 277 347% 62 PPrrooffiitt // ((LLoossss)) ffoorr tthhee
yyeeaarr 225544 -80%% 1,285 26% 1,020 754% (155) 87% (1,211) 249% (347)
-
-
-
-
113%
109%
188%
100%
11%
0%
5,200%
497%
46%
63%
83%
53%
22001199 22001188 22001177 22001166 22001155 22001144
%% % % % % % Rs. in million
Rs. in million
Rs. in million
Rs. in million
Rs. in million
Rs. in million
22001199 22001188 22001177 22001166 22001155 22001144
%% % % % % % Rs. in million
Rs. in million
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COMMENTS ON HORIZONTAL ANALYSIS
Statement of Financial PositionThe Company expanded its production capacity together with addition of galvanized steel to its product portfolio and hence resulted in signifi cant increase in non-current assets. On the other hand, current assets have increased majorly on account of increase in inventory levels complimenting the additional raw material required for the expanded capacity. Current assets have also increased due to increase in receivable in respect of sales tax and income tax due to payment of the said taxes at import stage for plant and machinery and raw materials.
Reduction in accumulated losses has contributed to increase in shareholders’ equity. Whilst, the increase in non-current and current liabilities represent project fi nancing for the Expansion Project and increased working capital required for higher inventory exposure.
Profi t or LossThe Company has demonstrated steady growth in revenue every year. However, during 2019, gross margin was on the lower side on account of increase in input costs originating from PKR devaluation and inability to pass on the said burden further stressed the gross margin. On the other hand, doubling borrowing cost and mounting exchange loss turned the Company’s performance into loss before tax. However, the Company utilized the benefi t of tax credits arising out of the Expansion Project and posted profi t after tax of Rs. 254 million for 2019.
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Performance Analysis
Vertical Analysis
COMMENTS ON VERTICAL ANALYSIS
Statement of Financial PositionCurrent assets have increased in continuation to the higher inventory levels required to meet the production requirements after expansion. Moreover, sales tax and income tax receivables have also increased due to the said taxes paid at import stage for import of plant and machinery for the Expansion Project and inventory required for the expanded capacity.
Non-current liabilities have increased in line with the increase in inventory levels together with higher working capital required for operational needs on account of signifi cant PKR devaluation. Non-current liabilities have increased with the addition of a syndicate fi nancing for the Expansion Project.
Profi t or LossCost of sales has increased signifi cantly due to higher input cost and inability to shift the impact of increase in cost to the consumers due to volatile and shrinking demand of fl at steel resulting for slowdown of the overall economic activities and consumption. Finance cost also multiplied as mark-up rates doubled during the year.
AAsssseettss
Non-current assets 21,567 66% 14,366 70% 11,959 66% 10,884 71% 11,170 73% 11,009 68% Current assets 11,164 34% 6,060 30% 6,225 34% 4,468 29% 4,167 27% 5,272 32%
TToottaall asssseettss 3322,,773311 110000%% 20,426 100% 18,184 100% 15,352 100% 15,337 100% 16,281 100%
EEqquuiittyy aanndd liiaabbiilliittiieess
Shareholders' equity 8,747 27% 8,491 42% 6,700 37% 2,655 17% 2,811 18% 2,535 16% Non-current liabilities 7,273 22% 4,934 24% 5,078 28% 5,355 35% 5,628 37% 5,504 34%
Current liabilities 16,711 51% 7,001 34% 6,406 35% 7,342 48% 6,898 45% 8,242 51%
3322,,773311 110000%% 20,426 100% 18,184 100% 15,352 100% 15,337 100% 16,281 100%
Revenue 20,231 18,904 100% 14,076 100% 9,634 100% 9,492 9,259
Cost of sales (18,553) (15,590) -82% (11,989) -85% (8,654) -90% (9,451) (9,200)
GGrroossss pprrooffiitt // ((lloossss)) 11,,667788 3,314 18% 2,087 15% 980 10% 41 59 Selling and distribution
cost (25) (19) 0% (19) 0% (20) 0% (38) (36)
Administrative expenses (249) (192) -1% (188) -1% (157) -2% (124) (140)
Other expenses (3) (143) -1% (65) 0% - 0% - -
Other income 52 35 0% 16 0% 25 0% 6 1,007
PPrrooffiitt // ((LLoossss)) ffrroomm ooppeerraattiioonnss 11,,445533 2,995 16% 1,831 13% 829 9% (115) 890
Finance cost (1,865) (1,079) -6% (949) -7% (1,021) -11% (1,373) (1,299)
PPrrooffiitt /((LLoossss)) bbeeffoorree ttaaxxaattiioonn ((441122)) 1,916 10% 882 6% (192) -2% (1,488) (409)
Taxation 666 (632) -3% 138 1% 37 0% 277 62
PPrrooffiitt // ((LLoossss)) ffoorr tthhee yyeeaarr 225544
100%
-92%
88%%
0%
-1%
0%
0%
77%%
-9%
--22%%
3%
11%% 1,284 7% 1,020 7% (155) -2% (1,211)
100%
100%
0%
0%
-1%
0%
0%
-1%
-14%
-16%
3%
-13% (347)
100%
-99%
1%
0%
-2%
0%
11%
10%
-14%
-4%
1%
-4%
22001199 2018 2017 2016 2015 2014
%% % % % % % Rs. in million
Rs. in million
Rs. in million
Rs. in million
Rs. in million
Rs. in million
22001199 2018 2017 2016 2015 2014
%% % % % % % Rs. in million
Rs. in million
Rs. in million
Rs. in million
Rs. in million
Rs. in million
STATEMENT OF FINANCIAL POSITION
STATEMENT OF PROFIT OR LOSS
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Summary of Cash Flow Statement22001199 2018 2017 2016 2015 2014
Cash (used in) / generated from operations (2,899) 395 1,918 879 (650) 888
Income tax paid (152) (540) (80) (127) 28 (289)
Mark-up on loans paid (756) (583) (703) (764) (1,145) (1,252)
Return on bank deposits received 10 12 3 4 5 5
Staff retirement benefit paid (5) (6) (8) (8) (4) (6)
(Increase) / decrease in long-term loans and advances (2) (2) - - - 2
(Increase) / decrease in long-term deposits (29) (1) - 2 - 1
NNeett ccaasshh ((uusseedd iinn)) // ggeenneerraatteedd ffrroomm ooppeerraattiinngg aaccttiivviittiieess ((33,,883333)) (725) 1,130 (14) (1,766) (651)
Purchase of property, plant and equipment (7,270) (2,822) (256) (61) (138) (241)
Purchase of intangibles - - - - (1) -
Sale proceeds from disposal of property, plant and equipment and intangible assets 3 5 3 7 5 11
NNeett ccaasshh uusseedd iinn iinnvveessttiinngg aaccttiivviittiieess ((77,,226677)) (2,818) (253) (54) (134) (230)
Proceeds from issue of share capital - 148 2,177 - 1,475 237
Long term loan obtained / (repaid) – net 2,193 (65) (800) (10) (10) (394)
Short-term borrowings obtained / (paid) (175) 175 (1,288) 1,038 67 (317)
Repayment of sponsors’ loan - - - (18) (35) -
Increase / (decrease) in liabilities against assets subject to finance leases 3 34 (2) (3) - (4)
NNeett ccaasshh ggeenneerraatteedd ffrroomm / (used in) 22,,002211 292 87 1,007 1,497 (478)
Net (decrease) / increase in cash and cash equivalents (9,079) (3,251) 964 939 (403) (1,359)
Cash and cash equivalents at beginning of the year (4,824) (1,573) (2,537) (3,476) (3,073) (1,714)
CCaasshh aanndd ccaasshh eeqquuiivvaalleennttss aatt eenndd ooff tthhee yyeeaarr ((1133,,990033)) ((44,,882244)) ((11,,557733)) ((22,,553377)) ((33,,447766)) ((33,,007733))
Rs. in million
ffiinnaanncciinngg aaccttiivviittiieess
Cash (used in) / generated from operating activities Cash used in investing activitiesCash generated from / (used in) financing activities
(8,000)
(6,000)
(4,000)
(2,000)
2019 2018 2017 2016 2015 2014
-
2,000
4,000
120
Perfo
rman
ce A
naly
sis
Graphical Representation of ASML
Profit After Tax
(1,500)
(1,000)
(500)
-
500
1,000
1,500
201920182017201620152014
Profit / (Loss) for the year
Assets
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
201920182017201620152014
Property plant and equipment Other Non-Current Assets Current Assets
5,000
10,000
15,000
20,000
25,000
30,000
35,000
Equity and Liabilities
-201920182017201620152014
Equity Non-Current Liabilities Current Liabilities
5,000
10,000
15,000
20,000
25,000
Total Income
-201920182017201620152014
Revenue Other Income
Total Expense
(5,000)
-
5,000
10,000
15,000
20,000
25,000
201920182017201620152014
Cost of sales Selling and distribution cost Administrative expenses
Other expenses Finance cost Taxation
Operating Profit
(500)
-
500
1,000
1,500
2,000
2,500
3,000
3,500
201920182017201620152014
Profit / (Loss) from operations
121
Performance Analysis
Gross Profit Value per share
-
500
1,000
1,500
2,000
2,500
3,000
3,500
(500)
201920182017201620152014
-
5.00
10.00
15.00
20.00
25.00
201920182017201620152014
Break up Value per share Market Value per share
Assets and Liabilities
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
201920182017201620152014
Assets Liabilities
Equity and Non-current liabilities
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
201920182017201620152014
Equity Non-Current Liabilities
Return on Equity
(2,000)
-
2,000
4,000
6,000
8,000
10,000
201920182017201620152014
Equity Profit after tax
-6
-5
-4
-3
-2
-1
0
1
2
3
201920182017201620152014
Diluted Earnings per share Basic Earnings per share
Earnings per share
122
Perfo
rman
ce A
naly
sis
Interest Cover Ratio
(500)
-
500
1,000
1,500
2,000
2,500
3,000
3,500
201920182017201620152014
Operating Profit Interest
Net Profit to Assets Ratio
(5,000)
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
201920182017201620152014
Total Assets Net Profit
Profitability Trend
(5,000)
-
5,000
10,000
15,000
20,000
25,000
201920182017201620152014
Sales - Net Expenses Gross Profit Net Profit Other Income