Description
The presentation highlights complete ratio analysis of Pantaloons India limited.
Ratio Analysis
Some important results
2008 Sales
Total Cost PBT PAT 5,048.91 4,588.39 195.62 125.97
2007
3,236.74 3,021.14 181.01 119.99
2006
1,868.97 1,722.34 91.90 64.16
2005
1,052.80 961.94 53.12 38.55
2008
Equity Reserves 31.86 1,751.50
2007
29.35 1,062.82 1,299.58 674.60
2006
26.88 500.02 601.39 309.43
2005
22.00 196.53 286.21 213.74
Total Loans 2,191.78
Net Fixed Assets
1,198.17
Net Current 1,990.91
1,389.86
599.04
259.05
Cash Flow Statement Analysis
2008 2007 2006 Net Cash by (19.21) Operating Activities Acquisition Fixed Assets Purchase of investments Net Cash Investing Activities Working Capital from Banks Net Cash financing activities Net Cash (654.52) (351.69) (1,410.82) (271.94) (89.81) (402.87) (119.39) (641.73) (116.75) (112.42) (434.46)
2005 (19.70)
(66.85) (31.88) (125.78)
556.17
(65.73)
82.76
(80.7)
1,388.16
1,054.87
524.53
113.73
(41.87)
141.20
26.95
7.65
Gross Profit Margin
Gross Profit Margin Reason: 1. Growth in sale was matched by similar percentage growth in cost of goods sold . 2008 30.4% 2007 30.6% 2006 33.4% 2005 33.4%
Net Profit Margin
Net Profit Margin Reasons:
1.
2008 2.4%
2007 3.6%
2006 3.43%
2005 3.65%
From 2006 to 2007, sales increased by ~73% whereas net profit increased by ~86%.
2. From 2007 to 2008, sales increased by 55% whereas net profit increased by ~5%.
3.
Main reason being increase in costs – costs
Current Ratio
2008 Current 1.94 Ratio 2007 1.92 2006 1.318 2005 1.897
Current Assets = Inventories + Cash + Other current assets Current Liabilities = Creditors + Other current liabilities + short term loans Reasons:
1.
From 2005 onwards, current ratio has seen an almost a steady trend Main Cause –
1.
Inventory turnover (days)
2008 2007 2006 2005 Inventor 120 113 115 113 y Turnove Reasons: r (in 1. Seen days) to be constant across the years.
1.
Similar percentage increases seen for COG and inventories Is able to turnover the stock consistently in ~4 months.
1.
Debt-Equity Ratio
2008
1.19 Debt Equity Ratio Reasons:
1.
2007
1.19
2006
1.14
2005
1.29
From 2007 onwards, the ratio has been a constant. Main reason being that both equity and debt have almost grown equally 2007-08 (~65%), 2006-07 (~110%)
2.
:
Asset Turnover Ratio
2008
1.23 Asset Turnove r Ratio Reasons:
1.
2007
1.36
2006
1.62
2005
2.03
A steady decline has been seen in the values starting from 2005. Though both sales and total assets have been increasing over the time period, the growth in assets has been more when compared to growth in sales.
1.
ROA Ratio
2008 ROA
3.94
2007
5.8
2006 7.06
2005
8.15
Reasons:
1.
A steady decline is seen.
2. Assets have mainly increased due to increase in fixed assets and current assets. :
Interest Coverage Ratio
2008 Interest 2.5059 Coverag e Ratio Reasons:
1.
2007
3.4272
2006
4.0531
2005
3.4199
The ratio is seen to vary across the years. In general company is able to generate sufficient funds to pay its interests.
1.
:
Dividend Payout Ratio
2008 Dividen 8.5 d Payout Reasons: Ratio
1.
2007 6.3
2006 10.4
2005 14.2
The main reason:- net profit has grown faster than the percentage by which dividend declared has grown. Excess amount has lead to increase in reserves & surplus from 2005 onwards. Company seems to be retaining a large amount of the profit for future use (probably
2.
DuPont Analysis
2008 Net Profit Sales Total Assets Equity Net Profit / Sales Sales / Assets Assets / Equity
125.97 5,048.91
2007
119.99 3,236.74
2006
64.16 1,868.97
2005
38.55 1,052.80
3189.08 2064.46 2008 2007 1,092.18 1783.36 0.0249 0.0371
908.47
526.90
472.79
218.53
2006 0.0343
2005 0.0366
1.5832 1.7882
1.5678 1.8902
2.0573 1.7242
2.2268 2.1635
Aldman’s Z score
NWC / TA RE / TA EBIT / TA MV equity / BV of liabilities Sales / TA Z Score 2008 0.4848 0.4265 0.0476 0.2713 1.2296 2.725 2007 0.5678 0.4342 0.0490 0.0122 1.3224 2.779
doc_668708717.pptx
The presentation highlights complete ratio analysis of Pantaloons India limited.
Ratio Analysis
Some important results
2008 Sales
Total Cost PBT PAT 5,048.91 4,588.39 195.62 125.97
2007
3,236.74 3,021.14 181.01 119.99
2006
1,868.97 1,722.34 91.90 64.16
2005
1,052.80 961.94 53.12 38.55
2008
Equity Reserves 31.86 1,751.50
2007
29.35 1,062.82 1,299.58 674.60
2006
26.88 500.02 601.39 309.43
2005
22.00 196.53 286.21 213.74
Total Loans 2,191.78
Net Fixed Assets
1,198.17
Net Current 1,990.91
1,389.86
599.04
259.05
Cash Flow Statement Analysis
2008 2007 2006 Net Cash by (19.21) Operating Activities Acquisition Fixed Assets Purchase of investments Net Cash Investing Activities Working Capital from Banks Net Cash financing activities Net Cash (654.52) (351.69) (1,410.82) (271.94) (89.81) (402.87) (119.39) (641.73) (116.75) (112.42) (434.46)
2005 (19.70)
(66.85) (31.88) (125.78)
556.17
(65.73)
82.76
(80.7)
1,388.16
1,054.87
524.53
113.73
(41.87)
141.20
26.95
7.65
Gross Profit Margin
Gross Profit Margin Reason: 1. Growth in sale was matched by similar percentage growth in cost of goods sold . 2008 30.4% 2007 30.6% 2006 33.4% 2005 33.4%
Net Profit Margin
Net Profit Margin Reasons:
1.
2008 2.4%
2007 3.6%
2006 3.43%
2005 3.65%
From 2006 to 2007, sales increased by ~73% whereas net profit increased by ~86%.
2. From 2007 to 2008, sales increased by 55% whereas net profit increased by ~5%.
3.
Main reason being increase in costs – costs
Current Ratio
2008 Current 1.94 Ratio 2007 1.92 2006 1.318 2005 1.897
Current Assets = Inventories + Cash + Other current assets Current Liabilities = Creditors + Other current liabilities + short term loans Reasons:
1.
From 2005 onwards, current ratio has seen an almost a steady trend Main Cause –
1.
Inventory turnover (days)
2008 2007 2006 2005 Inventor 120 113 115 113 y Turnove Reasons: r (in 1. Seen days) to be constant across the years.
1.
Similar percentage increases seen for COG and inventories Is able to turnover the stock consistently in ~4 months.
1.
Debt-Equity Ratio
2008
1.19 Debt Equity Ratio Reasons:
1.
2007
1.19
2006
1.14
2005
1.29
From 2007 onwards, the ratio has been a constant. Main reason being that both equity and debt have almost grown equally 2007-08 (~65%), 2006-07 (~110%)
2.
:
Asset Turnover Ratio
2008
1.23 Asset Turnove r Ratio Reasons:
1.
2007
1.36
2006
1.62
2005
2.03
A steady decline has been seen in the values starting from 2005. Though both sales and total assets have been increasing over the time period, the growth in assets has been more when compared to growth in sales.
1.
ROA Ratio
2008 ROA
3.94
2007
5.8
2006 7.06
2005
8.15
Reasons:
1.
A steady decline is seen.
2. Assets have mainly increased due to increase in fixed assets and current assets. :
Interest Coverage Ratio
2008 Interest 2.5059 Coverag e Ratio Reasons:
1.
2007
3.4272
2006
4.0531
2005
3.4199
The ratio is seen to vary across the years. In general company is able to generate sufficient funds to pay its interests.
1.
:
Dividend Payout Ratio
2008 Dividen 8.5 d Payout Reasons: Ratio
1.
2007 6.3
2006 10.4
2005 14.2
The main reason:- net profit has grown faster than the percentage by which dividend declared has grown. Excess amount has lead to increase in reserves & surplus from 2005 onwards. Company seems to be retaining a large amount of the profit for future use (probably
2.
DuPont Analysis
2008 Net Profit Sales Total Assets Equity Net Profit / Sales Sales / Assets Assets / Equity
125.97 5,048.91
2007
119.99 3,236.74
2006
64.16 1,868.97
2005
38.55 1,052.80
3189.08 2064.46 2008 2007 1,092.18 1783.36 0.0249 0.0371
908.47
526.90
472.79
218.53
2006 0.0343
2005 0.0366
1.5832 1.7882
1.5678 1.8902
2.0573 1.7242
2.2268 2.1635
Aldman’s Z score
NWC / TA RE / TA EBIT / TA MV equity / BV of liabilities Sales / TA Z Score 2008 0.4848 0.4265 0.0476 0.2713 1.2296 2.725 2007 0.5678 0.4342 0.0490 0.0122 1.3224 2.779
doc_668708717.pptx