Comparing and Analysis Financial Statement of Automobile Sector BY

Report
On
Comparing and analysis financial statement of
automobile sector
BY
M. Tahir Rasheed 60
Samina momin 08
M Tanveer 42
Hasnain Bhatti 63
SUBMITTED TO
DR. MUHAMMAD SADIQ SHAHID
Department of Commerce
BAHAUDDIN ZAKARIYA UNIVERSITY MULTAN PAKISTAN
2016-2020
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In the Name of Allah

The Most Beneficent
The Most Merciful
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Table of contents
1.Summary…………………………………………………………………………………………………. 3
2.Introduction…………………………………………………………………………………………….. 4
3.Purpose of the report ………………………………………………………………………………5
4.Research methodology ………………………………………………………………………………5
5.Basic accounting principal……………………………………………………………………………5
6.Capital market…………………………………………………………………………………………….6
7.Risk of an investment………………………………………………………………………………….8.
8.Financial statement analysis………………………………………………………………………9
9.Industry norm……………………………………………………………………………………………..13
10.Company used for analysis…………………………………………………………………… 14
11.Calculation……………………………………………………………………………………………… 17
12.Research methodology…………………………………………………………………………… 18
13.Empirical analysis…………………………………………………………………………………….19
14.Common size analysis………………………………………………………………………………22
15.Ratio analysis…………………………………………………………………………………………...68
16Summary of articles…………………………………………………………………………………106
17.Conclusion……………………………………………………………………………………………… 107
18.Appendix…………………………………………………………………………………………………113
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Summary
Our report is based on automobile industry. And the purpose of this project was to find
out the performance and position of the different companies through the comparison of
financial statements our mainly focus on to compare the financial report of different 20
companies of automobile industry, and find out the best one among several companies.
Our main goal of this assignment to compare different companies and find out the risk
the return strength ,weakness, position, and future performance of financial goals. In
our report there are two portion on is theoretically analysis and the second one is
empirical analysis.
Theoretical analysis.
In theoretical section of this assignment factors that effect the
investment and find out the risk ,introduce different companies and described them
briefly.
Empirical analysis.
In empirical analysis explain the financial statements of different
companies in compute there ratios vertical analysis and horizontal analysis along with
their interpretation.
Automobile companies.
 Pak Suzuki motors.
 Millat tractors.
 SAZGAR limited.
 Hino Pak.
 Atlas battery.
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 Atlas Honda.
 General motors.
 General tyres.
 Ford motor.
 Isuzu.
 Thal.
 Tata.
 Nissan.
 Deewan.
 Toyota.
 Agri autos.
 BMW.
 AL ghazi.
 Excide.
 Indus Motor.
Are the twenty automobile companies use in this report. At the end we have a clear
picture of the companies performance from 2008-2017. And we conclude that which
industry is best for preferably investment having low risk and high return.
Introduction:
Sir Sadiq Shahid assigned us a report on automobile industry for analysis, during
through out the semester we work on this analysis. first of all we download all the
financial statements of ten years, and copy to Excel . We have been study a lot of
knowledge about financial statements analysis about investing, about financial issues
about capital markets, stocks, ratios analysis, common size analysis, about risk, high
returns and so on. we use all these types of information by writing this report .And we
use this knowledge for background for further analysis to complete this task. In the
introduction the report is based on research methods, purpose of the report limitations
of the report.
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Purpose of the report:

Analysis of something is a big task to done it correctly and free of errors or conscious.
Our purpose of to analyze these 20 companies and find out the performance of previous
years of these companies the risk involve we carefully analyzed and the factors that
effect the companies performance similarly and give a clue to investors in which
companies invest and get more returns.
Research methodology:
We use two types of research analysis:
Quantitative research and other is qualitative research we use these methods to bring
the accuracy result of the this report. First of all we use the financial data of these
companies to calculate the analysis with the help of spreadsheet Microsoft Excel, finally
the income statement and balance sheet is used to compute the financial ratios and
common size analysis and find out the risk and return of these companies. Limitations
of the report we face some hurdles regarding the collection of financial report of past
years. We don't have enough resources and time to calculate these calculations .some
report of same companies have different sketch that's why we face problem when doing
analysis.
Basic accounting financial statements:

The following are financial statements:-
 Income statement.
 Balance sheet.
 Statement of cash flow.
 Footnotes.
Income statement:
This statement measure the profitability over a fix time , in which
all revenue are subtracted from expenses. after a period of time income statement
show the financial position of a company and show the all expenses of a company.in
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expenses include purchase, depreciation, administration expenses, selling expenses,

operating expenses, after all gross profit is calculated as by the subtracted the cost of
goods sold from net sales. In cost of goods sold labor cost, raw material, and all
overhead expenses. Operating cost is calculated by the depreciation and the other
selling and administrative expenses.
Balance sheet:
In a balance sheet right side have liability and owner equity and left
side is equal too assets, two types of account occur assets and liabilities and owner
equity current assets are include cash , market security, account receivable, inventory,
prepared expenses, etc. Current assets also named as working, and fixed assets are
property plant and equipment, goodwill, intangible asset, and other long term assets.
Statement of cash flows:

Statement of cash flows is that what kind of cash in hand and
what kind of cash is out in a company , cash generated by the operating activities,
investment activities, account receivable, Inventory, turn over, operating activities are
net income, depreciation, the increase or decrease, on marketable securities. These
above detailed a brief description of the analysis of the company , it is impossible to
present the company analysis by ignoring these items.
Capital market:
A capital markets is defined as where firm or a government raised
their funds for future operations and long term investment is known as capital market.
Selling and generally both types of transaction is done in capital markets. A market
where industry and government rise funds and money for their investment is term is
known as capital market. In which selling of bonds, stocks, is done in capital market ,
and government also sell his bond and stock.
Cash flow and its timing:

Cash flow means the cash that moves in all business
activities and other activities If the rate of cash flows is high then stock price will high, if
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the outflow is smaller then inflow then investor wants to invest in that company. Cash
flow is better technique to evaluate the company performance
Future fore cost of estimating earnings:
Cash flows also predict the future

performance of the company. future forecasting means the future statement positive
future forecast is attractive for those investor who invest in companies from our analysis
we determine which companies positive future results or negative future results is
helpful for investors we compare not only a single company but Analysis the major
portion of the sector.
Comparative position:
When an investors want to invest in a company, he or she
search the best company image of the company, best annual performance , profit and
lose. There fore in our analysis an investor find out not an individual company but their
competitive position it is much easier to investors to recognize the well perform
company for his investment .
Risk of an investment:
Usually in an investment no body known the exact rate of risk
, exact rate of return, there is always having an uncertainty this uncertainty is called the
risk of investment. For example:- an investor don't know how much he get return , how
much facing risk ? If he getting return according to expectations then he satisfied. If
satisfaction does not meet then facing risk.
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Type of Risk:
Risk of different types are as follows.
 Business risk.
 Financial risk.
 Other risk.
 Economical risk.
 Market risk.
 Industrial related risk.
Business risk:
Business risk is defined as the higher the uncertainty of a firm
operating income the higher risk this risk is called business risk, operating income is
calculated as decrease all the expenses from gross profit generated in the firm
Financial risk:
The additional uncertainty is created by the debts obligation in the
companies known as financial risk.
Other risk:
Other risk is defined as risk others then business and financial risk like
market risk , industry risk, economic conditions, political conditions, any nature disaster,
is called other risk.
Financial statements analysis:

All financial statements of a company which include
balance sheet , income statement are use to compare and evaluate the firm financial
position and performance. Our analysis of financial statements helps to find out the
financial performance and position and can be used for future investment decisions, and
other decision making. we find out the financial position of a company by financial
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statements. past performance of the company and future prediction of the company
and done through the analysis of the financial statements.
Financial ratios:
Financial ratios is the numerical value or result obtained by decide
one data with other financial value ,balance sheet and income statement are two
financial statements that used as the source for analysis calculating ratios, vertical
analysis, horizontal analysis.
Ratios:
 Liquidity ratios:
Liquidity ratio means what time required for assets to convert
into cash. and meet their short term obligations.
 current ratios.
 quick ratios.
 Current ratios:
Current ratios is defined as current /current liabilities if it is equal to
=1 then it means asset is equal to liability. If the current ratios is Greater then 1 then this
company is preferable.
 Quick ratio:
Quick calculated as current assets-Inventory /Liability , quick ratio is
used if the firm having ability to pay its short liability immediately. It is also equally to 1
same as current ratios.
 assessment management ratio:

Asset management ratio include average
collection period, inventory turnover, fixed asset turnover, total asset turnover.
 Turn over ratio:
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Turnover ratio is means the firm ability to achieve the

Maximum or optimum level of revenue by uses its all resources. Turnover ratios include
total assets turnover, inventory turnover ratio ,inventory turnover sales .
 Total assets turnover:

This ratio define as how much times the yearly sales occurs
by utilized the total assets.it simply means how much cash earn or receives by utilized
the one asset.
 Inventory turnover sales:
Inventory turnover sales ratio means it show how

many times the inventory of the firm sold or utilized in the company through out
their financial duration. ( period).
 Fixed asset turnover ratio:
Fixed asset turnover ratio is define as how much
times annual sales gain by utilizing fixed asset of the firm. How much it efficiently use
the fixed asset.
 Average collection period:

Average collection period ratio is define as how
much amount received over the sales ( credit sales) in a cycle.
 Leverage ratios:
This type of ratio shows the debt obligations in a firm .if high
leverage ratio in a industry means the investment is risky. And if the leverage ratio is low
it means the investment is less risky.
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 Debt ratio:
Debt ratio is define as total debt is divided by total assets.
 Total debt to equity ratio:
This ratio is calculated as total debt divided by total

equity .it show the ability to pay the long term debts and short term debts obligations.
 Long term debt to equity ratio :

This ratio us calculated as long term debts
over total equity .it shows the firm ability to pay the long term debts obligations.
 Time interest earned:

Time interest earned is define as EBIT over interest
charges. EBIT means earning before interest and taxes.
 Time fixed charges earned:

Time fixed charges earned is define as EBIT with
the addition of lease payment divided by Interest plus lease payment before tax sinking
fund + preferred stock before dividend.
 Profitability ratio:
An industry able to generate revenue minus expense can be
seen through this ratio.
 Return on asset:
It is define as or calculated as net income divided by total assets.

It shows the firm ability to generate net income from assets. How much asset is utilized
to generate income.


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
 Return on equity:
Return on equity is defined as net income over total equity.
It show the efficiency of a firm to utilized the equity of common stock holders equity.
 Gross profit margin:

Gross profit margin is calculated by gross profit/net sales
means the how much profit earned in term of sale.
 Inventory turn over:

Indicates the liquidity of the inventory and Calculated as
CGS/Average inventory.
 Working capital:
Working capital show the short term solvency of the company
and its calculated as Working capital= current Assets - Current liability.
 Current ratios:
Thus is short term debt paying ability and it is calculated as
current assets by current liabilities.
 Acid test ratios:

Shows the over all liquidity position of the company and it is
computed as Acid test ratios =current assets - inventory by current liabilities.
 Cash ratios:
Show the liquidity of the company in term of conservation view. And
computed as cash ratios = cash equivalent + marketable securities by current liabilities.
Industry norms:
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Compares of industry analysis and ratios with the industry norms is

other major aspects of the financial analysis.in which the same industry norms like all
automobile industries compared analysis with each other and compare all ratios and
calculated mean, median , mode . All companies of same kind analysis with each other
to show his position in public for investors because if the position of industry is good
then investor want to invest with them. For example Hino and Isuzu is two different
countries but Hino is contribute well vehicles in defense armed. But Isuzu is only for
public transport or a loader or all kind of heavy machinery.
Common size statement:

Common size statement in which we compare and analysis
the all expenses, revenue, vertical analysis and horizontal analysis, liabilities, and owner
equity, total assets, interest earned, tax, tax pay, and income, means all types that
includes in balance sheet we compare and analysis the company of his own previous
reports basis.
Comparative financial statements analysis:

In which we calculate the financial
statements analysis each year and compare with the previous year for evaluation the
company performance. And after all we compare the same sector companies , for
overall financial position in the stock exchange.
Companies use for analysis:
Twenty different companies of same industries were

selected these companies have Ten years data to make comparison and find out
effective result ,these companies are the portion of automotive industries.
MILLAT TRACTORS LTD:

Millat Tractors ltd is known for its Industrial and
Agricultural products. It owns assembly plants for assembling tractors and engines. It is
a market leader with over 60% of market share. It sold over 42500 tractors. Its price per
share is Rs.787.00.
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SAZGAR ENGINEERING WORKS LTD:
SAZGAR Engineering Works Ltd is known

for producing Auto Rickshaws and Automotive Wheel Rims. The company
listed its shares in Pakistan Stock Exchange in September 1996. Its price per
share is Rs.229.29.
BMW:
BMW is a multinational company from Germany. It is known for

manufacturing Automobiles and Motorcycles. It produced almost 2279503
vehicles. Its price per share is 64.0 euros.
PAK SUZUKI MOTORS:

It is public ltd company and this company was established in
August 1983 as an agreement between Pakistan Automobile Corporation and Suzuki
Motor Corporation Ltd. Its price per share is Rs. 304.00.
NISSAN MOTOR CO. LTD:

Nissan motor co. ltd is a Japanese automobile manufacturing
company. Nissan was considered as sixth largest automobile manufacturer in 2013. Its
price per share is 765.10 jpy.
AL-GHAZI TRACTORS LTD:

Al-Ghazi tractors ltd is a public interest company. It is listed on
Pakistan Stock Exchange as AGTL. It was incorporated on June 1983. Its price per share
is Rs. 329.93.
EXIDE PAKISTAN LTD:

Exide Pakistan ltd is a private limited company and it was
incorporated in 1953 in association with Chloride group plc of United Kingdom. It is
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known for Automotive and Industrial solutions as well as House Hold solutions. Its price
per share is Rs. 138.00.
FORD MOTOR COMPANY:

Ford Motor Company is an American Automaker
Multinational Company. Ford brand is known for its luxury cars. It was incorporated on
June 1903. Its price per share is 9.84 USD.
HINO PAK COMPANY LTD:

Hino Pak Company Ltd. is known for manufacturing trucks and
buses in Pakistan. It is based in Karachi, Pakistan. It is an authorized assembler and
manufacturer. Its price per share is Rs. 339.98.
INDUS MOTORS COMPANY:

Indus Motors Company is an automobile manufacturer
and it is authorized assembler and manufacturer of Toyota and Daihatsu vehicles. Its
price per share is Rs.1141.90.
ATLAS HONDA LIMITED:

Atlas Honda Limited is Motorcycle manufacturer in Pakistan. It
also exports motorcycles to Sri Lanka, Afghanistan and Bangladesh. It was established in
1962 and it is based in Karachi, Pakistan. Its price per share is Rs. 399.00.
AGRIAUTO LTD:
AGRIAUTO ltd.is a public ltd company and it is known for
manufacturing automotive components. It was incorporated in 1961. Its price per share
is Rs. 199.99. Its is also a supplier of genuine parts.
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GENERAL MOTORS:
General Motors is a multinational company based in America. It is
known for manufacturing, designing and distributing vehicles and vehicle parts. Its price
per share is 34.96 USD.
ATLAS BATTERY:
Atlas Battery is a sub company of Atlas Group. It was incorporated in
October 1966. It is a public limited company. It is known for manufacturing automotive
and motorcycle batteries. Its price per share is Rs. 87.90.
ISUZU MOTORS LTD:

ISUZU Motors ltd. Is a Japanese manufacturing company based in Tokyo. It is known for
manufacturing commercial vehicles and diesel engines. Its price per share is JPY
123800.
GENERAL TYRE:
General Tires is a manufacturing company. It is based in Karachi. It is
owned by BIBO JEE Group. It is known for producing tires. It started its production in
1964. Its price per share is Rs. 46.22.
TATA MOTORS LTD:

Tata Motors ltd. Is a multinational automotive manufacturing
company. This company is based in India. It is known for producing cars, trucks, vans,
buses and coaches. Its price per share is INR 180.25.
THAL LTD:
THAL ltd. Was established in 1966. It is a public listed company. It is known
for manufacturing engineering products, laminate sheets, jute products and paper
sacks. Its price per share is Rs.378.10.
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Calculation:
We calculate two types of analysis .
 computing ratios.
 common size analysis.

Computing ratios:
In this report we calculate different ratios and the data use for
computing ratios available as a financial statement of the companies and the formulas
use for computing ratios are provided in appendix
Financial ratios of each ten year data company were calculated in Microsoft excel to
make comparison easily the ratios are liquidity ratios , leverage ratios, profitability
ratios, asset management ratios, were calculated in our analysis.
Common size analysis:

Common size analysis two types analysis: One is vertical
analysis other one is horizontal analysis .Common size analysis means the values of
financial statements change into percentage of the value of financial statements for
example balance sheet if the company total assets value is in million change into 100
percentage similarly the value of income statement change into percentage value of all
the item for example expenses administration expenses, interest, income, gross profit,
etc.
Vertical analysis:
Vertical analysis is calculated as all the value of balance sheet is

divided by total assets and in profit and lose statement all the value are divided by total
revenue.
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Horizontal analysis:
Horizontal analysis is calculated by all the value of balance sheet
need a base year of financial statements and it is calculated as the Value of current
assets is subtracted from base year over base year.
Research methodology:
In our report we take two types of method one is qualitative
and other is quantitative.
Qualitative method:-
In this method we interpret the information of companies in
words not in numeric, we searched the introduction of the companies how thy
performance. We read different article to analyze these companies
Qualitative research methods required a data for the company in which we collect data
as a sample of populations, Data should be fresh and fair for analysis of in which we
measured quality, position, good will, all is take for qualitative analysis.
Quantitative methods:
In which we take the analysis of ratios, common size analysis,

vertical analysis, vertical analysis ,and horizontal analysis , financial ratios are in all
quantitative analysis , we measured the performance and position of industry , All
method is used for the company financial position.
Validity and reliability:
Validity is a technique and it is used for measuring the

effectiveness the analysis for research.in our report we apply two techniques qualitative
and quantitative methods to read the financial statements of companies, our basic
purpose the analysis of our report should be valid at the end of result. Validity is in the
report we collect the data as Opendoor.com.
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Reliability:
Reliability means combination of consistency, reliability means checking the

results again and again over the time during over analysis we firstly import the data
from pdf to Excel then excel and then excel to word three times we go to whole analysis
and this reduces the mistake and errors while calculating the ratios finding vertical
analysis and horizontal analysis there is known as reliability.
Empirical analysis:
In this section we totally focus on empirical analysis and show the

results in percentages, in diagrams, in graphics, and show the risk and return of the
companies , performance of the company and compare one company to other in a same
industry
Common size analysis of financial statement:

Company #01: Pak Suzuki motors:
Vertical analysis:
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BALANCE SHEET 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 industry average
fixed assets 17.64879 17.8194 12.26637 17.62009 21.31368 18.96092 19.30547 24.57662 28.50589 29.25808 20.72753
long term investment 0.408564 0 0 0 0.008399 0.023403 0.017149 0.025974 0.022655 0.02359 0.052974
long term loans 0.003929 0.610272 0.026701 0.035268 0.025198 0.004681 0.008574 0.005195 0.016991 0.064874 0.080168
long term deposits 0.750344 0.076614 0.066752 0.081117 0.15539 0.294875 0.085745 0.145455 0.198233 0.14744 0.200197
long term installmennt sales 0.284816 0.253619 0.30439 0.571348 0.713956 0.76293 0.797428 0.883117 0.866561 0.861052 0.629922
deffered taxation 0.465527 0.618197 0.520666 0.197503 0.621561 0 0 0 0 0 0.242346
stores ,spares and loose 0.225889 0.293247 0.264338 0.289201 0.277183 0.388486 0.274384 0.332468 0.237879 0.554376 0.313745
trade in stock 47.03595 43.03339 34.93538 52.82147 45.04641 49.43599 55.39979 45.44416 38.96692 45.60628 45.77257
trade debts 0.414457 3.183451 4.170672 4.768287 4.128344 2.934706 1.38478 1.251948 2.135251 1.692616 2.606451
current portion of long term istallemnet 0.630524 0.768784 0.929189 1.368414 1.390114 1.469693 1.303323 1.303896 1.166742 2.011088 1.234177
loans and advances 0.072677 0.531016 0.528677 1.816322 1.730293 0.912708 0.930332 0.701299 1.280018 0.754895 0.925824
traade and deposit 1.897466 0.203424 0.189576 0.186922 0.264584 0.182542 0.355841 0.223377 0.181242 0.300778 0.398575
accured profit on bank 0.056963 0.319666 0.515326 0.056429 0.054597 0.028083 0.025723 0.046753 0.04531 0.171031 0.131988
others recevibles 0.182675 0.340801 0.232297 0.472596 0.47877 0.875263 0.703108 0.561039 0.436112 0.583864 0.486653
sales tax 2.247103 4.361725 0.742283 3.533893 3.372391 4.540136 0 0 0 0 1.879753
taxxaation 9.624828 5.003699 4.245434 9.688227 12.16665 12.52984 14.51661 9.335065 5.867694 3.220099 8.619814
cash and bank balances 18.0495 22.58269 40.06729 6.492911 8.248289 6.632343 4.883173 15.15325 20.08382 14.73815 15.69314
non current asset 0 0 0 0 0 0.023403 0 0 0 0 0.00234
TOTAL ASSETS 100 100 100 100 100 100 100 100 100 100 100
Shares capital 1.616578 2.174258 2.197479 2.902589 3.456386 3.852095 3.528403 4.275325 4.661305 4.853739 3.351816
reserves 56.42703 67.0876 63.69753 64.94322 70.64802 70.1802 62.13934 71.03896 76.47825 78.61524 68.12554
TOTAL EQUITY 58.04361 69.26186 65.89501 67.84581 74.10441 74.0323 65.66774 75.31429 81.13956 83.46898 71.47735
Trade and oothers payables 22.37674 16.64377 17.20068 17.44022 15.52224 12.61409 13.76635 16 10.49502 7.761264 14.98204
advances 10.47338 4.293036 11.28378 7.614446 2.641636 5.354552 13.14041 1.698701 2.503398 2.193914 6.119725
accured markup 0 0 0 0.031742 0 0 0 0 0.011328 0 0.004307
short term borwroring 0 0 0 0 0 0 0.321543 0.25974 0.453104 0 0.103439
security deposit 9.037517 9.703582 5.521734 6.760951 7.152157 7.353148 0.347267 0.462338 0.49275 0.4954 4.732684
provision for custom duties 0.070713 0.095107 0.096123 0.303308 0.579564 0.645916 0.59164 0.716883 0.781604 0.843359 0.472422
TOTAL EQUITY AND LIABILITY 100 100 100 100 100 100 100 100 100 100 100
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Horizontal Analysis of Pak Suzuki motors
fixed assets 33.20979 46.82194 -8.04644 -1.55665 25.27771 -10.0378 -4.81928 -6.0004 1.45132 29.25808 10.55583
long term investment 0 0 0 -100 -60 25 -20 25 0 0.02359 -12.9976
long term loans -99.1342 2210 0 66.66667 500 -50 100 -66.6667 -72.7273 0.064874 258.8203
long term deposits 1217.241 16 8.695652 -37.8378 -41.2698 215 -28.5714 -20 40 0.14744 136.9405
long term installmennt sales 51.04167 -15.7895 -29.6296 -4.70588 4.294479 -12.3656 9.411765 11.11111 4.794521 0.861052 1.902402
deffered taxation 1.282051 20 248.2143 -62.1622 0 0 0 0 0 0 20.73342
stores ,spares and loose 3.603604 12.12121 20.73171 24.24242 -20.4819 29.6875 0 52.38095 -55.3191 0.554376 6.75207
trade in stock 47.00718 24.49557 -12.6394 39.63267 1.552736 -18.2634 47.71376 27.15116 -11.0306 45.60628 19.12259
trade debts -82.4896 -22.8553 15.53254 37.53815 56.77831 94.11765 34.0249 -36.0743 31.35889 1.692616 12.96238
current portion of long term istallemnet 10.30928 -16.3793 -10.3093 17.22054 5.414013 3.289474 21.11554 21.84466 -39.5894 2.011088 1.492656
loans and advances -81.592 1.515152 -61.5534 25 111.2821 -10.1382 60.74074 -40.2655 76.5625 0.754895 8.230617
traade and deposit 1154.545 8.450704 33.96226 -15.873 61.53846 -53.012 93.02326 34.375 -37.2549 0.300778 128.0056
accured profit on bank -76.0331 -37.3057 1106.25 23.07692 116.6667 0 -33.3333 12.5 -72.4138 0.171031 103.9579
others recevibles -27.907 48.27586 -35.0746 17.54386 -39.0374 14.02439 51.85185 40.25974 -22.2222 0.583864 4.829831
sales tax -30.7087 493.8849 -72.2555 24.78207 -17.2165 #DIV/0! 0 0 0 0 #DIV/0!
taxxaation 158.7117 19.1195 -42.1187 -5.17777 8.218155 -20.9392 88.42515 73.4556 89.74359 3.220099 37.26582
cash and bank balances 7.49883 -43.0361 715.1005 -6.26273 38.60268 24.40737 -60.953 -17.7383 41.89676 14.73815 71.42541
non current asset 0 0 0 0 -100 1 0 0 0 0 -9.9
TOTAL ASSETS 34.49752 1.068034 32.08718 19.07942 11.44863 -8.403 21.16883 9.028092 4.128332 100 22.4103
Shares capital 0 0 0 0 0 0 0 0 0 4.853739 0.485374
reserves 13.12515 6.447015 29.5536 9.463797 12.19154 3.449703 5.989031 1.273791 1.297824 78.61524 16.14067
TOTAL EQUITY 12.71313 6.232019 28.28923 9.022386 11.55719 3.264347 5.649055 1.200614 1.222356 83.46898 16.26193
Trade and oothers payables 80.8254 -2.20428 30.273 33.79329 37.14286 -16.0698 4.253247 66.21695 40.80547 7.761264 28.27974
advances 228.1231 -61.5476 95.73877 243.2432 -45.0175 -62.6754 837.3089 -26.0181 18.8172 2.193914 123.0167
accured markup 0 0 -100 0 0 #DIV/0! 0 -100 0 0 #DIV/0!
short term borwroring 0 0 0 0 #DIV/0! -100 50 -37.5 0 0 #DIV/0!
security deposit 25.26545 77.61122 7.876891 12.56606 8.402292 1839.506 -8.98876 2.298851 3.571429 0.4954 196.8605
provision for custom duties 0 0 -58.1395 -37.6812 0 0 0 0 -3.4965 0.843359 -9.84738
TOTAL EQUITY AND LIABILITY 34.49752 1.068034 32.08718 19.07942 11.44863 -8.403 21.16883 9.028092 4.128332 100 22.4103
INTERPERTATION OF BALANCE SHEET ANALYSIS:

The Total Assets of Pak Suzuki
Motors in 2017 increased as compared to industry average which was 34.49752. And
the Total Assets of this company was less in 2012 as compared to industry average
(22.4103) which was -8.403. Whereas, the Total Equity & Liability of this company
increased in 2008 which was 34.49 as compared to Industry average. And the Total
22
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Equity and Liability of this company was less in 2012 which was -8.403 as compared to
industry average (22.4103).
Income statement of Pak Suzuki motors:

Vertical analysis:
2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2012.5 average
Sales 33.05975 -9.501 57.54961 5.099783 -12.7625 11.02449 23.62873 -9.501 11.02449 -12.7625 9.685992 10.65459
cost of sales 33.24129 -5.32979 47.65466 3.475606 -14.8916 10.49578 22.11869 -5.32979 10.49578 -14.8916 8.703899 9.574289
GROSSS PROFIT 31.3512 -36.0233 174.5459 29.01634 38.29424 25.40107 86.25498 -36.0233 25.40107 38.29424 37.65124 41.41636
Distribution ccost 39.92016 2.980473 160.8579 33.21429 55.98886 35.98485 34.01015 2.980473 35.98485 55.98886 45.79109 50.3702
aadmin expense 3.896104 25.10154 11.70599 14.79167 11.75786 16.71196 -215.723 25.10154 16.71196 11.75786 -7.81868 -8.60055
other ooperraating expense 23.9521 -48.8515 233.1633 12 57.65766 3.738318 91.07143 -48.8515 3.738318 57.65766 38.52758 42.38034
other income -16.8269 -1.70132 107.451 -40.9038 74.69636 -20.3226 7.826087 -1.70132 -20.3226 74.69636 16.28912 17.91803
OPERATING PROFIT 26.33562 -48.2446 228.9057 9.912899 59.66887 9.182936 2906.522 -48.2446 9.182936 59.66887 321.289 353.4179
share or loss of equity account invvestee 0 0 0 0 0 0 0 0 0 0 0 0
finance cost -29.1667 209.6774 14.81481 -53.4483 427.2727 -38.8889 -14.2857 209.6774 -38.8889 427.2727 111.4037 122.544
PROFIT BEFORE TAXATION 27.27067 -49.1652 231.1094 11.47471 56.97131 9.81685 104.3413 -49.1652 9.81685 56.97131 40.9442 45.03862
taxation 9.129641 -42.2089 304.9858 39.28571 -3.44828 -8.58144 -224.945 -42.2089 -8.58144 -3.44828 1.997852 2.197637
PROFIT AAFTER TAXATION 37.97331 17.40528 204.0062 3.94808 89.25281 -15.8707 276.3033 17.40528 -15.8707 89.25281 70.38057 77.41863
2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2012.5 average
Sales 33.05975 -9.501 57.54961 5.099783 -12.7625 11.02449 23.62873 -9.501 11.02449 -12.7625 9.685992 10.65459
cost of sales 33.24129 -5.32979 47.65466 3.475606 -14.8916 10.49578 22.11869 -5.32979 10.49578 -14.8916 8.703899 9.574289
GROSSS PROFIT 31.3512 -36.0233 174.5459 29.01634 38.29424 25.40107 86.25498 -36.0233 25.40107 38.29424 37.65124 41.41636
Distribution ccost 39.92016 2.980473 160.8579 33.21429 55.98886 35.98485 34.01015 2.980473 35.98485 55.98886 45.79109 50.3702
aadmin expense 3.896104 25.10154 11.70599 14.79167 11.75786 16.71196 -215.723 25.10154 16.71196 11.75786 -7.81868 -8.60055
other ooperraating expense 23.9521 -48.8515 233.1633 12 57.65766 3.738318 91.07143 -48.8515 3.738318 57.65766 38.52758 42.38034
other income -16.8269 -1.70132 107.451 -40.9038 74.69636 -20.3226 7.826087 -1.70132 -20.3226 74.69636 16.28912 17.91803
OPERATING PROFIT 26.33562 -48.2446 228.9057 9.912899 59.66887 9.182936 2906.522 -48.2446 9.182936 59.66887 321.289 353.4179
share or loss of equity account invvestee 0 0 0 0 0 0 0 0 0 0 0 0
finance cost -29.1667 209.6774 14.81481 -53.4483 427.2727 -38.8889 -14.2857 209.6774 -38.8889 427.2727 111.4037 122.544
PROFIT BEFORE TAXATION 27.27067 -49.1652 231.1094 11.47471 56.97131 9.81685 104.3413 -49.1652 9.81685 56.97131 40.9442 45.03862
taxation 9.129641 -42.2089 304.9858 39.28571 -3.44828 -8.58144 -224.945 -42.2089 -8.58144 -3.44828 1.997852 2.197637
PROFIT AAFTER TAXATION 37.97331 17.40528 204.0062 3.94808 89.25281 -15.8707 276.3033 17.40528 -15.8707 89.25281 70.38057 77.41863
23
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INTERPERTATION:
The sales of Pak Suzuki Motors in 2015 increased as compared to
industry average which was 57.54961. And the sales of this company was less in 2013
and 2008 as compared to industry average (10.65) which was -12.7625.
Company #02: Atlas Honda:
Vertical analysis of balance sheet:

balance SHEET 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE INDUSTRY
property plant & equipment 25.06053 27.14966 28.56159 31.57176 31.69339 36.80359 35.96223 33.87501 37.8408 46.24118 33.47597384
intengibleassets 0.141089 0.000144 0.026408 0.080942 0.033282 0.046236 0.058565 0.07418 0.094494 0.224926 0.078026581
long term investments 1.020817 1.140057 1.205304 1.370469 0 0 0 0 0 0 0.473664831
long term loans and advances 0.098912 0.117413 0.137597 0.172339 0.18375 0.212935 0.186307 0.23285 0.220716 0.194549 0.175736738
long term deposit 0.070923 0.067618 0.073332 0.082285 0.067051 0.069908 0.143498 0.111888 0.133016 0.121453 0.094097182
Total non current assets 26.39228 28.47489 3.002367 33.2778 31.97747 37.13266 36.3506 34.29393 38.28902 46.78211 31.59731248
stores spares and loose tool 20.42775 2.102364 2.402749 2.669799 2.787461 3.248175 3.180892 3.387207 3.78528 5.801492 4.979316837
stoke and trade 8.167601 8.282384 9.148635 10.52188 14.21911 18.07439 3.180892 20.81885 19.52879 24.28018 13.62227023
Trade debt 2.705925 2.430827 2.986996 4.464653 3.622096 4.284362 19.72852 4.172388 5.229695 4.338099 5.396355976
Loans and advaces 0.126014 0.151782 0.176136 0.261284 0.245768 0.276775 5.458415 0.348448 0.475049 0.510063 0.802973394
Trade deposite and prepayments 0.432531 0.47016 0.317984 0.37745 0.35279 0.397205 0.30247 0.383901 0.458551 0.875763 0.436880597
Short term investment 26.39318 27.61275 28.85053 26.1043 25.69573 13.61015 0.409036 13.91167 12.77823 6.175822 18.15414099
accrued mark up 0.048879 0.083727 0.082685 0.068795 0.077479 0.096575 13.32595 0.088523 0.052955 0.007045 1.393261738
Other receivables 0.048788 0.025844 0.024105 0.02328 0.032481 0.052454 0.03967 0.156685 0.135715 1.369405 0.19084264
Taxation net 2.280272 2.857361 2.661505 0.628482 0 0.021458 0.13994 0.70729 0 1.237126 1.053343479
Bank balances 31.36176 27.50791 23.34444 21.60227 19.79603 22.80579 1.465309 21.73111 19.26672 8.622896 19.7504246
Total current assets 73.60772 71.52511 70.48671 66.7222 66.82895 62.86734 19.60832 65.70607 61.71098 53.21789 61.22812987
TOTAL ASSETS 100 100 100 100 100 100 100 100 100 100 100
share capital 3.248987 4.032586 5.076675 6.552322 7.198415 6.885491 6.563163 6.501476 6.382473 6.408444 5.885003167
reserve 47.02452 47.66832 48.93748 51.98738 47.88831 56.04013 42.88691 27.25346 28.42102 35.52691 43.36344491
T0tal equity 50.27351 51.7009 54.01416 58.53971 55.08673 54.6023 49.45007 14.28896 45.66649 44.99957 47.86223932
compensateb absences 0.75935 0.890868 1.053662 1.236529 1.336857 1.417028 0 0 0 0 0.669429436
Deferred taxation 2.193215 2.616599 4.746187 3.664054 4.438493 5.799081 6.663205 6.749179 0 0 3.687001261
Total Non current Liabilities 2.952565 3.507467 3.836077 4.900583 5.775072 7.216109 0 0 0 0 2.818787323
Trade and other payables 46.77393 44.79163 42.14977 36.55971 38.82785 38.18159 43.88672 44.23118 36.49259 35.85348 40.77484449
Taxation net 0 0 0 0 0.310354 0 0 0 0.094505 0 0.040485968
Total current liabilities 4.677381 44.79163 42.14977 36.55971 39.1382 38.18159 43.88672 44.23118 41.27931 42.11726 37.70127624
Total equity and liabilities 100 100 99.99018 100 100 100 100 100 100 100 99.99901811
24
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Horizontal analysis of balance sheet:

balance SHEET 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE INDUSTRY
property plant & equipment 14.56756 19.66789 14.3553 9.438906 2.96426 12.18116 20.93822 1.063476 -5.50863 1.063476 9.07316263
intengibleassets 121264.9 -99.3121 -137.479 167.1826 -13.9334 -13.46 -10.0602 -11.3746 -51.4909 -11.3746 12108.35624
long term investments 11.13661 19.07636 11.90389 0 0 0 0 0 0 0 4.211686716
long term loans and advances 4.56025 7.424983 2.957862 3.038339 3.177892 25.28404 -8.85149 19.10154 30.99798 19.10154 10.67929316
long term deposit 30.18629 16.08087 13.06153 34.82143 14.68032 -46.5984 46.10311 -5.03705 26.4614 -5.03705 12.47224207
Total non current assets 15.04043 1093.972 -758.766 14.32786 2.966502 11.97497 20.75101 1.115566 -5.49489 1.115566 39.70024108
stores spares and loose tool 1106.003 10.15273 13.90967 5.223213 2.607047 11.93527 6.980248 1.022654 -24.6611 1.022654 113.4195093
stoke and trade 22.39816 13.9711 10.89106 -18.7052 -5.93746 522.8609 -82.5944 20.35286 -7.12815 20.35286 49.64617086
Trade debt 38.1648 2.450774 -15.8077 35.41583 1.083844 -76.195 438.6496 -9.92935 39.19951 -9.92935 44.31029857
Loans and advaces 3.047198 8.484544 -14.9344 16.79649 6.170872 -94.4418 1684.534 -17.1916 7.541306 -17.1916 158.2815113
Trade deposite and prepayments 14.1844 86.13864 8.031496 17.53981 6.196304 43.94908 -10.2447 -5.48376 -39.5408 -5.48376 11.52866443
Short term investment 18.63633 20.49015 29.89606 11.60734 125.7387 3547.357 -96.6505 22.90899 138.9113 22.90899 384.180418
accrued mark up -27.5408 27.47892 35.53616 -2.45283 -4.07653 -99.2056 17049 88.72147 767.8846 88.72147 1792.406306
Other receivables 134.3142 34.96945 25.17312 -21.2602 -25.96 44.9402 -71.1575 30.33892 -88.5566 30.33892 9.314048918
Taxation net -0.94936 35.15544 81.70427 0 -100 -83.1921 -77.4607 0 -100 0 -24.47424155
Bank balances 41.50724 48.34394 28.30314 19.88446 3.786513 1606.052 -92.3185 27.33539 157.9975 27.33539 186.8227164
Total current assets 27.73226 27.74591 26.65892 9.685039 27.10058 251.4479 -66.0037 20.20376 33.89537 20.20376 37.86697962
TOTAL ASSETS 24.11828 25.89129 22.52098 9.860524 19.56606 9.616614 13.91908 12.89508 15.46778 12.89508 16.67507561
share capital 0 0 0 0 24.99997 15.00007 14.99995 15.00004 14.99984 15.00004 9.99999063
reserve 22.44197 22.62638 17.69229 19.2642 2.173504 43.23554 79.26668 8.257236 -7.62742 8.257236 21.55876243
T0tal equity 20.69153 20.49977 16.02943 16.74687 20.62683 21.03764 294.2418 -64.6753 17.17907 -64.6753 29.77023015
compensateb absences 5.794881 6.440686 9.074178 1.615792 12.80133 0 0 0 #DIV/0! 0 #DIV/0!
Deferred taxation 4.035066 -30.5954 40.18623 1 1 -4.59911 12.46793 0 1 0 2.44946879
Total Non current Liabilities 4.482044 15.10707 1.020645 -6.77507 -4.31097 0 0 0 #DIV/0! 0 #DIV/0!
Trade and other payables 29.61124 33.78191 32.79653 3.443 21.58983 -4.63321 13.03191 36.83554 17.52605 36.83554 22.08183563
Taxation net #DIV/0! 0 0 -100 #DIV/0! 0 0 -100 #DIV/0! -100 #DIV/0!
Total current liabilities -87.0389 33.78191 32.79653 2.622727 22.56171 -4.63321 13.03191 20.96817 13.17047 20.96817 6.822949054
Total equity and liabilities 24.11828 25.90366 22.51337 9.860524 19.56606 9.616614 13.91908 12.89508 15.46778 12.89508 16.67555101

The Total Assets of Atlas Honda
in 2016 increased as compared to industry average which was 25.89. And the Total
Assets of this company was less in 2014 as compared to industry average (16.67507561)
25
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which was 9.86. Whereas, the Total Equity & Liability of this company increased in 2016
which was 25.90 as compared to Industry average. And the Total Equity and Liability of
this company was less in 2014 which was 9.86 as compared to industry average
(16.675).
Vertical analysis of income statement:

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 industry average
sale 100 100 100 100 100 100 100 100 100 100 100
cost of sale -92.9759 -92.5366 -90.5845 -90.6447 -92.496 -93.4809 -930.695 -89.7389 -89.7894 -90.5016 -175.3443532
gross profit 7.024059 7.463443 9.415547 9.355295 7.504047 7.82214 675.635 10.26111 10.21058 90.50156 83.51927712
distribution cost -1.97374 -1.28255 -2.23723 -1.96947 -2.50747 -2.70319 -1.81194 -2.64647 -2.87124 -2.90911 -2.291242025
administration exp -1.2049 -1.09208 -1.25997 -1.06331 -0.9555 -1.03597 -1.13273 -0.90857 -0.94516 -0.96688 -1.056507332
other operating exp -0.10074 -0.33026 -0.36591 -0.43491 -0.337 -0.36236 -0.17526 -0.56465 -0.53555 -0.50359 -0.371021883
other operating income 0.652787 1.265228 0.907257 0.993297 0.920431 0.93543 0.890421 1.157844 1.188329 0.945736 0.985676014
profit from operation 4.397468 6.023777 6.45969 6.880901 4.624512 4.656054 4.700972 7.378282 7.086484 6.064595 5.827273591
finance c0st -1.8314 -1.20875 -1.62169 -0.87031 -0.28743 -0.44067 -1.86243 -0.02777 -0.01789 -0.01807 -0.818640794
profit before tex 2.566072 4.815029 4.838 6.010587 4.337086 4.215381 2.843686 7.350512 7.104377 6.064595 5.014532485
taxation -0.93285 -1.44418 -1.5048 -2.12527 -1.25433 -1.42742 -0.9674 -1.89492 -1.95041 -1.54649 -1.504806932
profit before tax 1.633226 3.370851 3.333196 3.885314 3.082758 2.787965 1.876282 5.455593 5.13607 4.50004 3.506129549
Horizontal analysis of income statement:
2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2012.5
sale -34.0807 25.57211 -4.66038 -46.4345 27.26155 31.4507 -64.6679 20.2093 2.908052 31.4507 -1.09910316
cost of sale -33.7677 28.2782 -4.72375 -47.5065 25.92062 -86.7968 266.4344 20.14166 2.098285 -86.7968 8.328148108
gross profit -37.9615 -0.46247 -4.04635 -33.2198 22.08637 -98.4781 2226.416 20.80413 -88.3897 -98.4781 190.8270338
distribution cost 1.444204 -28.0126 8.301684 -57.9273 18.0472 96.1079 -75.8094 10.79879 1.56847 96.1079 7.062685527
administration exp -27.2705 8.839679 12.97238 -40.3904 17.37674 20.22115 -55.9505 15.55469 0.597134 20.22115 -2.782850079
other operating exp -79.8934 13.33838 -19.7856 -30.8722 18.35529 171.7774 -89.0332 26.74069 9.439303 171.7774 19.18440598
other operating income -65.9893 75.1183 -12.9188 -42.1939 25.22098 38.09524 -72.8284 17.12555 29.30529 38.09524 2.903016647
profit from operation -51.8777 17.09826 -10.4965 -20.2988 26.39943 30.19468 -77.4886 25.15913 20.24813 30.19468 -1.086737489
finance c0st -0.12456 -6.40313 77.65004 62.19417 -16.9945 -68.8972 2269.548 86.56899 1.916376 -68.8972 233.656144
profit before tex -64.8696 24.97589 -23.2599 -25.7657 30.9358 94.8579 -86.3311 24.37401 20.55175 94.8579 9.032687001
taxation -57.4204 20.51304 -32.4946 -9.24116 11.82982 93.95701 -81.9621 16.78897 29.78653 93.95701 8.57141996
profit before tax -68.0611 26.99068 -18.2085 -32.4894 40.71791 95.3224 -87.8486 27.68771 17.45294 95.3224 9.688642012
26
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INTERPERTATION OF INCOME STATEMENT ANALYSIS:

The sales of Atlas Honda
in 2008 and 2012 increased as compared to industry average which was 31.4507. And
the sales of this company was less in 2011 as compared to industry average (-1.099)
which was -46.4345.
Company #3 Ford motors :
Balance sheet (vertical analysis):

Cash and cash equivalents 10.09903 10.88002 8.989781 9.61491 8.217618 7.156035 5.158565 6.547516 6.684149 0.00254 7.335016
Marketable securities 7.974699 11.13674 12.60877 10.43914 10.64475 10.93091 9.779549 9.293765 9.633076 0.003605 9.2445
Loaned securities 0 0 0 0 0 0 0 0 0 0 0
Finance receivables 42.81815 39.51885 42.54738 39.23565 37.52742 38.32297 38.89712 20.06758 19.4435 0.007784 31.83864
Net Investment 11.78868 8.992918 7.089206 7.198286 8.633248 9.88431 11.13381 12.04535 12.11552 0.004672 8.8886
Retained interest 0.042138 0 0 0 0 0 0 0 0 0 0.004214
Inventories 3.947272 2.624974 3.592876 3.3087 3.863472 3.812463 3.772173 3.698566 3.739425 0.001435 3.236136
Equity in net assets 0.729178 1.237242 1.559929 1.64622 1.703454 1.819675 1.609863 1.433367 1.388521 0.000556 1.312801
Net property 13.08353 11.78765 14.07458 12.54345 13.0892 13.65918 14.44705 13.41025 13.47841 0.005202 11.95785
Deferred Income Taxes 1.423546 1.811602 1.216247 8.480611 7.96887 6.661424 6.54064 5.116817 4.078571 0.001985 4.330031
Goodwill/Net intangible assets 0.729636 0.08592 0.061936 0.05607 0.045656 0 0 0 0 0 0.097922
Assets of discontinued operations 0.090689 3.966882 0 0 0 0 0 0 0 0 0.405757
Other assets 4.491865 4.215788 3.773218 2.674546 2.623928 2.891992 3.046608 3.42692 3.792377 0.001329 3.093857
Finance receivables 0 0 0 0 0 0 0 20.25297 20.98079 0.007856 4.124162
Total Assets 100 100 100 100 100 100 100 100 100 0.038789 90.00388
Payables 6.765967 7.446886 9.93521 9.937874 10.13256 9.660252 9.607869 9.012782 8.949742 0.003496 8.145264
Other liabilities and deferred revenue 29.03246 24.02833 26.62262 25.43847 25.92808 20.22267 20.89753 18.91564 18.36975 0.007337 20.94629
Debt 70.62585 68.54562 63.14281 55.78308 55.13293 56.72597 57.14895 59.06591 60.0838 0.022911 54.62778
Deferred income taxes 0.932084 1.260675 0.689186 0.390248 0.246649 0.295778 0.273346 0.223186 0.290396 8.66E-05 0.460163
Liabilities of discontinues operations 0.025191 2.770777 0 0 0 0 0 0 0 0 0.279597
Minority interest/Redeemable noncontrolling 0.547342 0 0 0 0.168981 0.163716 0.164008 0.041792 0.040344 1.62E-05 0.11262
Common stock 0.010535 0.017184 0.022467 0.020746 0.020467 0.01929 0.018703 0.017784 0.01681 6.9E-06 0.016399
Class B stock 0.000458 0.000521 0.000607 0.000561 0.000525 0.000495 0.00048 0.000445 0.00042 1.72E-07 0.000451
Capital in excess of par value 4.157048 8.740887 12.63184 11.72147 11.0079 10.59556 10.11332 9.523619 9.090107 0.003694 8.758545
Accumulted income 4.619197 5.657155 8.691032 10.50418 11.99345 9.016762 9.60643 2.781816 2.947245 0.001079 6.581835
Treasury stock 0.082903 0.092168 0.098976 0.093076 0.153237 0.250273 0.406662 0.434367 0.471526 0.000168 0.208336
Retained Earnings/Accumulated deficit 7.394837 7.081337 4.273561 7.28071 9.48655 11.56698 11.77593 6.408358 6.57026 0.002486 7.184101
Equity attributable to noncontrolling interest 0 0.019788 0.018824 0.02411 0.022041 0.016322 0.012948 0.006669 0.007144 2.59E-06 0.012785
Total Liabilities and Stockholders' equity 100 100 100 100 100 100 100 100 100 0.038789 90.00388
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BALANCE SHEET 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 average industry
Cash and cash equivalents -37.5081 -5.23833 -29.1423 15.82573 -8.68323 -7.60585 -25.6497 36.9062 7.998914 16.26533 -3.68314
Marketable securities 231.7645 22.83614 -2.90831 -10.3395 8.94833 8.952869 -7.72398 2.505762 9.653655 -10.8498 25.28396
Loaned securities -100 0 0 0 0 0 0 0 0 0 -10
Finance receivables -14.2765 -18.8182 -7.67143 -0.13415 2.19218 8.349881 4.68502 -44.3516 2.501274 12.84745 -5.46761
Other receivables -26.0292 18.45875 2.696692 15.93124 26.42148 -9.23532 19.12902 -5.68842 0.54338 -4.53072 3.769688
Net Investment -22.6041 -32.9008 -32.3972 9.961456 28.14301 21.4759 16.17794 16.69466 6.407559 -2.06043 0.8898
Retained interest -85.9112 -100 0 0 0 0 0 0 0 0 -18.5911
Inventories -14.8503 -41.5061 17.3775 -0.27041 24.75852 4.69981 2.049818 5.758963 6.959971 15.49786 2.047558
Equity in net assets -44.1991 49.24623 8.122896 14.28571 10.55858 13.33949 -8.75238 -3.96187 2.48139 -6.62833 3.449264
Net property -21.1761 -20.7527 2.39431 -3.48591 11.49256 10.72087 9.088934 0.122817 6.328946 10.14904 0.488281
Deferred Income Taxes -11.2 11.93694 -42.426 655.1173 0.396694 -11.3072 1.269676 -15.617 -15.6747 13.06543 58.55612
Goodwill/Net intangible assets -23.0063 -89.6422 -38.1818 -1.96078 -13 -100 0 0 0 0 -26.5791
Assets of discontinued operations -97.373 3747.475 -100 0 0 0 0 0 0 0 355.0102
Other assets -34.5152 -17.4467 -23.246 -23.2379 4.821803 16.94 8.654011 21.32851 17.07317 32.90115 0.32728
Finance receivables 0 0 0 0 0 0 0 0 9.59301 12.53505 2.212806
Total Assets -21.8202 -12.0406 -14.2434 8.29513 6.843923 6.100633 3.139792 7.86373 5.791264 8.344995 -0.17247
Payables -29.0899 -3.18846 14.41158 8.324166 8.937035 1.154962 2.580513 1.18293 5.051302 9.325695 1.868986
Other liabilities and deferred revenue -15.1891 -27.2016 -4.9844 3.478241 8.90035 -17.2465 6.581715 -2.36593 2.738213 1.594564 -4.36944
Debt -8.64462 -14.6314 -21.0028 -4.32742 5.598665 9.166365 3.908866 11.48182 7.614374 7.915647 -0.29205
Deferred income taxes -32.9268 18.96806 -53.1185 -38.6784 -32.4713 27.23404 -4.68227 -11.9298 37.6494 17.94501 -7.20106
Liabilities of discontinues operations -98.8599 9574.545 -100 0 0 0 0 0 0 0 937.5686
Minority interest/Redeemable noncontrolling -15.9043 -100 0 0 0 2.795031 3.323263 -72.5146 2.12766 2.083333 -17.809
Common stock 9.52381 43.47826 12.12121 0 5.405405 0 0 2.564103 0 0 7.309279
Class B stock 0 0 0 0 0 0 0 0 0 0 0
Capital in excess of par value 15.85397 84.94932 23.93066 0.490314 0.339632 2.12624 -1.55448 1.57428 0.975678 0.984743 12.96704
Accumulted income 1707.348 7.724343 31.74705 30.888 21.9921 -20.2328 9.884805 -68.765 12.08247 -0.77 173.1899
Treasury stock -2.16216 -2.20994 -7.9096 1.840491 75.90361 73.28767 67.58893 15.21226 14.84135 11.67558 24.80682
Retained Earnings/Accumulated deficit 987.2054 -15.7696 -48.2462 84.49844 39.21448 29.36881 5.002993 -41.3015 8.463993 35.71703 108.4154
Equity attributable to noncontrolling interest 0 0 -18.4211 38.70968 -2.32558 -21.4286 -18.1818 -44.4444 13.33333 64.70588 1.194743
Total Liabilities and Stockholders' equity -21.8202 -12.0406 -14.2434 8.29513 6.843923 6.100633 3.139792 7.86373 5.791264 8.344995 -0.17247

The Total Assets of Ford Motors
Assets of this company was less in 2008 as compared to industry average (-0.17247)
which was -21.8202. Whereas, the Total Equity & Liability of this company increased in
2017 which was 8.344 as compared to Industry average. And the Total Equity and
Liability of this company was less in 2008 which was -21.8202 as compared to industry
average (-0.17247).
28
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VERTICAL ANALYSIS OF INCOME STATEMENT

PROFIT & LOSS ACCOUNT 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 average industry
Automotive revenes 100 100 100 100 100 100 100 100 100 100 100
Cost of sales 88.18531 85.02189 80.99865 84.636 84.636 81.8081 86.77652 83.20919 83.13241 83.76346 84.21675
Gross profit 11.81469 14.97811 19.00135 15.364 15.364 18.1919 13.22348 16.79081 16.86759 16.23654 15.78325
R&D expense 0 0 0 0 0 0 0 0 0 0 0
SG&A expense 14.67085 11.20456 9.235076 8.63214 8.63214 7.385122 8.219216 7.196539 13.05599 13.12318 10.13548
Other opeating income 1.305159 0.88577 0.167502 0.057652 0.057652 0.141577 0 0 0 0 0.261531
Operating expenses 104.1613 97.11222 90.06623 93.3258 93.3258 89.33479 94.99573 90.40573 96.18841 96.88664 94.58027
Operating income 4.161327 2.887782 9.933775 6.674204 6.674204 10.66521 5.004269 9.594271 3.811594 3.113359 6.251999
Total nonoperating expenses 6.212391 0.652718 4.389937 0.955383 0.955383 0.883492 4.078375 2.739405 0.657444 2.090881 2.361541
Pretax Income 10.37372 2.235064 5.543837 5.718821 5.718821 9.781713 0.856486 6.854866 4.469038 5.20424 5.675661
Income taxes 0.04318 0.097177 0.459078 1.516933 1.516933 1.650592 0.002776 1.926343 1.438735 0.256417 0.890816
Income After Taxes 10.33054 2.332241 5.084759 4.201888 4.201888 8.131122 0.85371 4.928523 3.030303 4.947824 4.80428
Other income 0 0 0 0 0 0 0 0 0 0 0
Income from continuous operations 10.33054 2.332241 5.084759 4.201888 4.201888 8.131122 0.85371 4.928523 3.030303 4.947824 4.80428
Income from discontinuous operations 0.006268 0.0043 0 0 0 0 0 0 0 0 0.001057
Net Income 10.28388 2.336541 5.087861 4.202637 4.202637 8.135886 0.854404 4.92986 3.023057 4.931239 4.7988
HORIZONTAL analysis of income sheet:

PROFIT & LOSS ACCOUNT 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 average industry
Automotive revenes -15.8221 -19.014 10.89669 5.157653 -1.50879 10.00157 -1.93306 3.804216 1.499084 3.277997 -0.36407
Cost of sales -11.1981 -21.9191 5.64906 8.769662 -0.50347 6.326135 4.022797 -0.46311 1.405429 4.061968 -0.38487
Gross profit -39.3818 2.670361 40.68439 -10.2396 -6.70183 30.24854 -28.7163 31.80768 1.963205 -0.58582 2.174887
R&D expense 0 0 0 0 0 0 0 0 0 0 0
SG&A expense -0.49128 -38.1486 -8.59621 -8.60694 5.92613 -5.8895 9.142857 -9.11164 84.14011 3.809476 3.217442
Other opeating income 180.5389 -45.0374 -79.0291 -83.3333 113.8889 170.1299 -100 0 0 0 15.71579
Operating expenses -10.3589 -24.4947 2.850565 7.159216 0.149447 5.297445 4.281208 -1.2114 7.991332 4.027696 -0.43081
Operating income 59.41836 -43.7992 281.4771 -12.9899 -20.0251 75.77967 -53.9856 99.01526 -59.6766 -15.6412 30.95728
Total nonoperating expenses 17.29126 -91.491 645.8498 -56.4565 -48.2353 1.724138 352.6965 -30.2757 -75.6407 228.4569 94.39194
Pretax Income 286.181 -82.5512 175.0673 21.42957 -12.0147 88.15135 -91.4133 730.7942 -33.8275 20.26828 110.2085
Income taxes -95.3488 82.25806 423.8938 1849.493 -82.4452 19.69398 -99.8351 71925 -24.193 -81.5934 7391.692
Income After Taxes 487.6783 -81.7164 141.7773 208.4032 -72.248 112.8653 -89.7037 499.2683 -37.5933 68.63043 123.7361
Other income 0 0 0 #DIV/0! 0 0 0 0 0 0 #DIV/0!
Income from continuous operations 487.6783 -81.7164 141.7773 208.4032 -72.248 112.8653 -89.7037 499.2683 -37.5933 68.63043 123.7361
Income from discontinuous operations -78.0488 -44.4444 -100 1 #DIV/0! 0 0 0 0 0 #DIV/0!
Net Income 428.3005 -81.5996 141.4796 208.078 -72.2307 112.9521 -89.7013 498.9439 -37.7594 68.46808 117.6931

The sales of Ford Motors
in 2010 increased as compared to industry average which was 10.89669. And the sales
of this company was less in 2008 as compared to industry average (-0.36) which was -
15.82.
29
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Company # 04 Exide batteries:

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 average industry
Issued, subscribed and paid-up share capital 2.925995 2.654294 1.945148 1.408777 1.795565 1.849933 1.27996 1.042455 0.998298 0.828602 1.672903
Capital Reserve 0.014019 0.012717 0.008917 0.006458 0.006585 0.006784 0.004267 0.003475 0.003328 0.002763 0.006931
Revenue Reserves 22.40849 24.01032 19.58923 18.67575 24.96643 33.26629 28.2563 27.91105 30.5839 29.1182 25.87859
Reserves arising on amalgamation 0 1.267955 0.889034 0.643885 0.656532 0.676411 0.425461 0.346515 0.331837 0.275429 0.551306
Unappropriated Profit 6.60399 7.580918 8.57006 7.902155 9.305978 14.23658 7.623657 6.686403 7.418679 9.53077 8.545919
Surplus-net of tax 12.94237 12.52095 8.589856 11.21845 11.18481 11.26182 6.919091 5.508176 6.62699 5.367494 9.214
Deferred Tax Liability 1.21068 1.173483 1.519342 1.14068 1.40754 1.546238 1.080484 0.631262 0.092536 0.033033 0.983528
Trade and Other Payables 22.11008 22.24079 20.95096 26.91003 17.99298 25.15887 19.65697 1.577625 20.51938 21.24468 19.83623
Accrued markup 0.805911 0.689241 0.51883 1.193143 0.813705 0.163949 0.479355 0.890688 0.410622 0.348118 0.631356
Short-Term borrowings 24.48311 25.76536 37.41863 30.90068 31.86989 11.83314 34.27445 41.17839 33.01444 33.25092 30.3989
Total Equity And Liabilities 100 100 100 100 100 100 100 100 100 100 100
Property, plant & equipment 29.05887 32.98219 26.73479 25.63046 25.89391 27.21723 20.59029 17.62097 17.41711 15.38603 23.85318
Long-Term Investments 2.170206 0.010999 0.007712 0.005585 0.005695 0.005867 0.003691 0.003006 0.002878 0.002389 0.221803
Long-Term Loans 0.058675 0.081951 0.064518 0.070415 0.049476 0.038008 0.019195 0.014519 0.010383 0.009002 0.041614
Long-Term Deposits 0.749997 0.822504 0.628931 0.501833 0.513978 0.489908 0.420469 0.448041 0.474425 0.370517 0.54206
Spares 1.375013 1.598262 1.803511 1.640643 1.722776 1.915732 1.532917 1.490457 1.637375 1.140861 1.585755
Stock-in-Trade 49.8 42.22049 50.18471 46.282 38.06324 42.04561 38.80435 32.15613 35.59672 41.24432 41.63975
Trade Debts 7.520485 7.987285 6.992259 7.9134 8.802017 7.504718 9.931921 17.91775 32.25833 24.87156 13.16997
Loans and Advances 0.191992 0.106453 0.363801 0.135569 0.577309 0.532972 0.427867 0.55562 0.342194 0.327213 0.356099
Trade deposits, short-term prepayments 2.944074 0.944423 0.673515 0.90657 0.826849 2.297512 0.806816 0.427229 0.438765 0.472634 1.073839
Taxation recoverable 0.931759 1.722293 2.692752 2.765016 4.637264 2.687516 6.594694 6.913477 6.689918 5.318558 4.095325
Cash and Bank Balances 5.198936 11.52315 9.853502 14.14851 18.90749 15.26493 14.58025 22.45281 5.131907 10.85692 12.79184
Total Assets 100 100 100 100 100 100 100 100 100 100 100
30
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Horizontal analysis balance sheet:

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2012.5
Revenue Reserves 20.34937 18.11634 16.36022 31.63495 31.10852 29.32817 35.03962 21.28291 14.42314 14.70594 23.23492
Unappropriated Profit 14.33083 26.54356 61.2305 27.31283 15.49654 48.48713 -14.8651 7.688168 15.8594 54.78027 25.68642
Surplus-net of tax -2.05149 6.646815 -2.15608 80.32561 -2.22041 -2.27061 -2.32336 -2.25433 25.63359 -2.41806 9.691166
Deferred Tax Liability 58.13773 6.849376 84.65626 3.661825 21.01777 6.625483 11.09436 -28.2651 -84.6927 -56.9921 2.209284
Trade and Other Payables 169.0754 10.88798 34.35036 77.34576 -34.4245 35.71671 24.21544 -90.1457 1258.181 24.73838 150.9941
Accrued markup 65.93113 -5.72235 7.359122 217.5249 -33.1153 -80.4437 364.8346 128.1433 -51.8591 2.140577 61.47932
Short-Term borrowings 55.7197 16.00972 107.127 14.02252 1.149788 -63.9617 360.4906 47.51548 -16.2795 21.34277 54.31364
Total Equity And Liabilities 41.76856 10.2363 42.62155 38.07355 -1.92632 -2.9389 58.9828 22.78315 4.423263 20.47979 23.45038
Property, plant & equipment 6.867228 25.11963 15.60656 32.37017 -0.91827 2.021462 20.27315 5.076622 3.215165 6.43019 11.60619
Long-Term Loans 4.937076 53.96679 12.2828 50.6937 -31.0907 -25.4368 -19.7105 -7.12446 -25.3235 4.455446 1.764989
Long-Term Deposits 1.109165 20.89348 9.056176 10.17079 0.447183 -7.48417 36.4487 30.83464 10.57234 -5.90753 10.61408
Spares 14.12462 28.13447 60.93702 25.60466 2.983373 7.932291 27.21368 19.38219 14.71658 -16.0542 18.49747
Stock-in-Trade 65.45227 -6.54155 69.52482 27.336 -19.3422 7.216117 46.72695 1.747116 15.59618 39.59451 24.73102
Trade Debts 58.85642 17.07872 24.8543 56.26299 9.086641 -17.2444 110.4016 121.5078 21 -7.10865 39.46954
Loans and Advances -65.0542 -38.8779 387.4077 -48.5474 317.6384 -10.3933 27.63061 59.44395 -35.6881 15.20523 60.87651
Trade deposits, short-term prepayments 226.2612 -64.6375 1.710513 85.85084 -10.5506 169.6974 -44.1701 -34.9834 7.242917 29.77976 36.62011
Taxation recoverable 0 103.7644 122.9844 41.77897 64.48134 -43.7485 290.116 28.7184 1.04657 1 61.01416
Cash and Bank Balances 57.66933 144.3326 21.95637 98.2579 31.06167 -21.6379 51.85186 89.07955 1 154.8837 62.84551
Total Assets 41.76856 10.2363 42.62155 38.07355 -1.92632 -2.9389 -76.4023 727.2161 4.423263 20.47979 80.35516

The Total Assets of Exide
Batteries in 2015 increased as compared to industry average which was 727.2161. And
the Total Assets of this company was less in 2014 as compared to industry average
(80.35516) which was 76.4023 .Whereas, the Total Equity & Liability of this company
Equity and Liability of this company was less in 2014 which was 76.4023 as compared to
industry average (80.35516).
31
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Vertical analysis income statement:

PROFIT & LOSS ACCOUNT 0
Net Sales 100 100 100 100 100 100 100 100 100 100 100
Cost Of Sales 88.04659 88.97816 87.47471 86.15278 86.53834 85.82689 87.63931 978.0577 81.54776 80.11098 175.0373
Gross Profit 11.95341 11.02184 12.52529 13.84722 13.46166 14.17311 12.36069 176.3507 18.45224 19.88902 30.40352
Selling and dstribution cost 3.903548 4.213477 4.78419 5.184938 4.858033 5.377444 4.974693 81.37414 9.565768 9.5125 13.37487
Administration and general expenses 1.327344 1.052166 0.935268 0.810211 0.803256 0.828987 0.838645 9.445654 0.910978 0.804295 1.77568
Other operating income 0.449132 0.070919 0.085214 0.059574 0.16621 0.081882 0.134977 1.057923 0.034721 0.044361 0.218491
Other operating charges 0.810449 1.128964 0.710826 0.672869 1.014925 0.944407 0.645663 9.99421 1.005767 0.895403 1.782348
Operating Profit 6.361199 4.698151 6.180217 7.238779 6.951661 7.104155 6.036663 76.59459 7.004444 8.721187 13.68911
Finance cost 1.62457 1.465637 1.27559 1.66621 1.659662 0.343885 0.831676 22.33817 1.477429 0.503217 3.318604
Profit before taxation 4.736629 3.232514 4.904627 5.572569 5.291999 6.76027 5.204988 54.25643 5.527015 8.21797 10.3705
Taxation-net 1.633041 1.133084 1.716993 1.988419 1.909849 2.400977 1.745455 14.91953 1.925008 2.491716 3.186407
Profit after taxation 3.103588 2.09943 3.187634 3.58415 3.38215 4.359292 3.459532 39.3369 3.602007 5.726254 7.184094
0
PROFIT & LOSS ACCOUNT 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2012.5
Net Sales 56.47632 86.29619 9.923833 24.5966 22.74892 17.74371 4.024362 -90.1837 935.8082 9.514709 107.6949
Cost Of Sales 64.52653 88.26728 8.066469 22.71367 23.29826 16.77572 6.221066 9.549722 -13.6372 7.585174 23.33667
Gross Profit 15.02178 71.7775 24.91814 37.74669 19.33112 23.96645 -9.27803 40.0491 8.380526 18.04209 24.99554
Selling and dstribution cost 19.56017 101.0875 24.81295 35.03343 15.00973 30.33263 -3.76669 60.57057 21.76229 8.904857 31.33074
Administration and general expenses 15.67141 47.67424 -2.28896 7.936426 21.69529 21.51537 5.236327 10.56042 -0.10233 -3.31039 12.45878
Other operating income 21.5437 -70.5835 32.08114 -12.8934 242.4684 -41.9945 71.4771 -23.0622 -66.005 39.92182 19.29536
Other operating charges 28.0933 159.5125 -30.789 17.94336 85.14878 9.562819 -28.8817 51.94571 4.23854 -2.50247 29.42719
Operating Profit 11.27427 37.59161 44.60011 45.9378 17.88021 20.32658 -11.6066 24.55092 -5.27712 36.35604 22.16338
Finance cost 49.16907 68.07063 -4.32981 62.75143 22.2665 -75.6033 151.5798 163.657 -31.4925 -62.699 34.337
Profit before taxation 2.355944 27.13791 66.78516 41.56493 16.5687 50.41184 -19.9077 2.323944 5.516121 62.83448 25.55913
Taxation-net 2.360163 29.26147 66.57053 44.29315 17.8986 48.02219 -24.3767 -16.0942 33.64626 41.75502 24.33365
Profit after taxation 2.353724 26.02053 66.901 40.09539 15.83089 51.76123 -17.4463 11.61654 -5.15295 74.09989 26.60799

The sales of Exide Batteries
in 2016 increased as compared to industry average which was 935.8082. And the sales
of this company was less in 2015 as compared to industry average (107.69) which was -
90.1837.
32
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Company #05 SAZGAR motors:
Balance sheet (vertical):

property plant and equipment 37.84372714 20.7627189 23.018736 2.6579229 25.0645307 23.2729237 26.1980431 30.5006572 36.7259967 37.8437271 26.3889
intangible Assets 0.00360817 0.0115146 0.021381 0.0461064 0.0604267 0.04851389 0.06057255 0.12507438 0.18219653 0.00360817 0.0563
long Term loans and Advances 1.055716225 1.14268967 0.8980845 0.7017357 0.54765873 0.49564579 0.28092058 0.19616257 0 1.05571622 0.637433
long term Deposits 0.169487703 0.12203131 0.1503807 0.1701751 0.16517739 0.1099219 0.09249709 0.14978276 0.13456313 0.1694877 0.14335
stores spares and loose tools 0.193741016 0.2362436 0.2303933 0.4052753 0.4549935 0.71547953 0.84059524 0.60600832 0.89634277 0.19374102 0.477281
stock in trade 38.91709549 41.3425875 50.563537 48.653609 38.7247963 52.2523293 45.9171263 40.779129 32.1002761 38.9170955 42.81676
trade debt 5.117751352 7.85395754 13.460932 10.697578 13.3228451 12.4967633 10.6859557 11.7752188 15.878424 5.11775135 10.64072
short term payments 2.350632968 2.75096601 0.4929966 2.3247506 3.19240931 1.67571694 7.58632495 6.07431847 5.47724304 2.35063297 3.427599
other receiveables 8.803132932 10.0558666 8.314473 5.4087082 4.49445466 7.44156661 7.50030039 6.90771686 3.54877937 8.80313293 7.127813
cash and bank balances 4.778532699 14.1717861 1.6793136 3.2647598 12.7130714 0.86840529 0.1180876 1.17489286 3.2686739 4.7785327 4.681606
T0tal assets 100 100 100 99.855727 100 100 100 100 100 100 99.98557
authorised share capital 35.50020437 42.4563949 45.927941 51.34613 49.8381826 48.3327416 54.9180794 66.150458 82.4067443 35.5002044 51.23771
issued and paidup 12.76045474 15.2608391 16.508677 18.456231 17.9142032 17.3730764 16.4501319 16.5122273 17.141717 12.7604547 16.1138
unappropriate profit 42.17883126 43.2792914 40.159006 41.338012 38.4129736 32.5610218 30.057916 31.0702921 34.2224325 42.1788313 37.54586
liabilities against assets 0 0.00478144 0.0779687 0.2471741 0.64915579 5.92847118 0.35551252 0.12657017 0.47994842 0 0.786958
deffered liability 9.821886557 10.0623253 9.7274858 9.4561022 7.53584959 6.41915184 6.58117944 6.5259709 6.67217644 9.82188656 8.262401
trade and other payable 35.22819719 27.1875064 2.8786767 26.504953 30.0000762 31.2387228 28.4408531 30.4002212 33.4159029 35.2281972 28.05233
mark up profit 0.006632929 0.00047008 0.0308493 0.0480385 0.05215436 0.13894494 0.33322127 0.28433584 0.18511307 0.00663293 0.108639
long term liabilities 0.003998033 0.06567631 0.2051023 0.5581056 0.50012307 0.44996342 0.28280131 0.78749845 1.57774898 0.00399803 0.443502
provision for taxation 2.343013488 4.13910994 3.0116083 2.8509313 3.26321741 7.76267794 6.56982041 4.58749497 2.0535759 2.34301349 3.892446
total equity and liability 100 100 100 99.855727 100 100 100 99.9999947 100 100 99.98557
33
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HORIZONTAL BALANNCE SHEET:

property plant and equipment 117.9826551 -2.4254369 868.21061 -89.70711 4.44505096 0.93830397 3.46111866 3.45834027 3.46111866 4.44505096 91.42697
intangible Assets -62.52424321 -41.742171 -48.156026 -25.93954 20.7930676 -8.9952328 -41.665556 -14.481881 -41.665556 20.7930676 -24.3584
long Term loans and Advances 10.49208176 37.6400926 43.078489 24.370697 7.15632949 100.475713 72.4983476 #DIV/0! 72.4983476 7.15632949 #DIV/0!
long term Deposits 66.10364913 -12.216449 -1.2069008 0 45.7288788 35.0299298 -25.615274 38.6646204 -25.615274 45.7288788 16.66021
stores spares and loose tools -1.921507186 10.923633 -36.444898 -13.54314 -38.328116 -3.287146 67.0805343 -15.776291 67.0805343 -38.328116 -0.25445
stock in trade 12.57838833 -11.550769 16.18582 21.949607 -28.127505 29.3018877 35.629534 58.2555971 35.629534 -28.127505 14.17246
trade debt -22.07031993 -36.882864 40.67612 -22.06313 3.39003152 32.8795298 9.31050482 -7.6171214 9.31050482 3.39003152 1.032329
loans and advances -40.18337195 41.7349863 -18.466565 23.988806 93.9904859 -0.879359 -49.343563 19.2456771 -49.343563 93.9904859 11.4734
short term payments 2.190814082 503.636065 -76.291816 -29.31744 84.7554011 -74.901768 50.4358688 38.1546306 50.4358688 84.7554011 63.3853
other receiveables 4.695982763 30.833401 71.858858 16.807581 -41.427756 12.7352225 30.7861165 142.485308 30.7861165 -41.427756 25.81331
cash and bank balances -59.67427029 812.907203 -42.494243 -75.07385 1319.7349 735.587769 -87.893362 -55.222837 -87.893362 1319.7349 377.9713
T0tal assets 19.59479005 8.17673212 11.958679 -3.076863 -3.0206579 13.6250036 20.4529706 24.5747147 20.4529706 -3.0206579 10.97177
unappropriate profit 16.55385987 16.5818783 8.6085714 4.4542578 14.4087227 23.0872498 16.5282019 13.1004576 16.5282019 14.4087227 14.42601
liabilities against assets -100 -93.366053 -64.734642 -63.04199 -89.380955 1794.79281 238.33042 -67.14763 238.33042 -89.380955 170.4401
deffered liability 16.73707863 11.9003913 15.005654 21.79639 13.8502022 10.8275739 21.471981 21.8449439 21.471981 13.8502022 16.87564
trade and other payable 54.96488642 921.669299 -87.857822 -14.24506 -6.8659859 24.8028668 12.6894839 13.3322327 12.6894839 -6.8659859 92.43134
mark up profit 1587.518064 -98.351621 -28.206186 -10.59673 -63.59784 -52.621215 41.162268 91.3482145 41.162268 -63.59784 144.4219
long term liabilities -92.71968929 -65.360471 -58.914844 8.3163444 7.79010972 80.7880436 -56.743714 -37.821291 -56.743714 7.79010972 -26.3619
provision for taxation -32.30133766 48.6765009 18.097982 -15.20012 -59.232538 34.2554674 72.5025071 178.288168 72.5025071 -59.232538 25.83566
total equity and liability 19.59479005 8.17673212 11.958679 -3.076863 -3.0206579 13.6250036 20.4529769 24.5747081 20.452297 -3.0206579 10.9717

The Total Assets of SAZGAR
Engineering in 2010 increased as compared to industry average which was 24.5747081.
And the Total Assets of this company was less in 2014 as compared to industry average
(10.9717) which was -3.0768963. Whereas, the Total Equity & Liability of this company
Equity and Liability of this company was less in 2014 which was -3.0768963 as compared
to industry average (10.9717).
34
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INCOME STATEMENT VERTICAL:

Profit and lose Account 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 average industry
sales 100 100 100 100 100 100 100 100 100 100 100
CGS 895.1171254 89.9547727 90.531632 90.097086 89.2309668 87.9149017 89.2560346 85.1380399 89.1008106 80.3881251 168.6729
Gross profit 104.8827538 10.0452273 9.4683678 9.9029139 10.7690332 12.0850982 10.7439654 9.66438389 10.8991894 19.6118749 20.80728
diistrribbutioon cost 23.19215914 2.41999254 2.6318892 2.7703816 2.34738809 2.10695902 2.16716948 2.09877016 2.66559743 2.1960934 4.45964
administrative expences 18.20934962 1.98058696 2.0888089 2.4056235 2.66514207 2.00215065 1.73168465 2.13468941 3.67654224 2.16187609 3.905645
other operating exppences 7.380539618 0.44421628 0.5169191 0.4488671 0.43309959 0.65218836 0.49960221 0.72625571 0.34641981 1.00419913 1.245231
other income 0.807826125 0.25345662 0.0987339 0.1921358 0.31574956 0.26240382 0.07500117 0.06069849 0.12369025 0.01746937 0.220717
operating profit before finance cost 56.90853158 5.45388809 4.3294845 4.4701775 5.63915305 7.58620406 6.42051024 4.76536715 4.33432012 14.2671756 11.41748
finance cost 0.494609817 0.09672227 0.3008162 0.309015 0.53200796 0.43064074 0.6088271 0.61848439 1.61025333 0.74815741 0.574953
profit before taxatiion 56.41392176 5.35716582 4.0286683 4.1611625 5.10714509 7.15556332 5.81168314 4.14688276 2.72406679 13.5190182 10.84253
taxaatioon 16.94011854 1.6106544 1.0499661 1.2910014 1.57234931 2.5297077 2.22376178 1.6523705 1.23016827 4.75654767 3.485665
prrofit after taxation 39.47380322 3.74651141 2.9787022 2.8701611 3.53479578 4.62585561 3.58792136 2.49451226 1.49389852 8.76247054 7.356863
COMPANY NO 06 AGRITIOUS MOTOR:
vertical analysis:
Assets
non curent assets 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE INDUSTRY
long ern invest 0 0 0 23.33628 1.712348 0 0.10477 12.23215 0 12.58607 4.997162
long trm dep 0.321984 0.355401 0.41841 0.189644 0.135412 0.173614 0 0.140738 0.173614 0.118158 0.202698
TOTAL 38.0196 36.28079 430.9351 40.27734 17.5255 16.16197 16.17556 32.98909 16.16197 33.31337 67.78403
stores spares an loose 1.383212 1.509596 1.838783 2.492755 2.663454 2.507 2.17282 2.524444 2.507 2.482514 2.208158
stock and trade 23.42597 24.55259 15.81296 20.77406 23.35392 24.75158 29.344 19.36866 24.75158 26.84346 23.29788
trade dabit 11.06615 15.24975 8.037135 15.6923 10.8171 14.5143 14.38595 12.93856 14.5143 1.417896 11.86334
loans adances deposits and recivaables 0.28194 0.277813 2.20488 0.784066 0.384114 0.229101 0.411312 2.535929 0.229101 0.527792 0.786605
accurel profit 0.03255 0.02438 0.057313 0.02758 0.055035 0.030481 0 0.117089 0.030481 0.057434 0.043234
short term ivestment 13.26612 10.66161 16.67792 1.670787 3.309968 36.63511 28.3397 17.63679 36.63511 9.095951 17.39291
taxation net 2.772089 0.879221 1.645311 0 0.284558 0 0 0.788566 0 0 0.636975
cash and bank balance 8.142413 9.060881 8.630653 18.28111 11.8115 5.170453 8.981677 11.10088 5.170453 13.49998 9.985
Total assets 100 100 100 100 100 100 100 100 100 100 100
4000000[2008 :40000000] ordinary shares of Rs 5 each 4.946758 5.460155 6.535106 6.637876 6.84939 8.171981 9.304641 13.59128 8.171981 11.96537 8.163453
issued, subscribed and paid up capital 3.561666 3.931311 4.705277 4.779271 4.931561 5.883826 6.699341 8.154767 5.883826 8.615063 5.714591
Reserves 84.94904 81.45123 84.36355 83.49851 83.00036 81.98879 77.84849 75.92679 81.98879 77.66527 81.26808
total equity 88.51071 85.38254 89.06883 88.27778 87.93192 87.87262 84.54783 841.1157 87.87262 86.28033 162.6861
3 0 0 0 0 0 0.0228 0.113237 0.182871 0.0228 0.156268 0.049798
deffered taxation 1.024078 1.495454 19.95021 1.80683 0.726241 0.810293 1.239192 1.276561 0.810293 1.838119 3.097727
trade and other liabilities Payables 10.46521 10.01654 9.001521 8.968335 9.527022 10.94984 13.55588 13.64496 10.94984 10.09219 10.71714
current portion of liabilities 0 3.047012 0 0 0.014863 0.077021 0.113563 0.564106 0.077021 1.887895 0.578148
txation Net 0 0 0 0.258678 0 0.223831 0.430293 0 0.223831 0.546039 0.168267
sales tax payabllees 0 0 0 0.688381 0.07733 0.043598 0 0.249944 0.043598 0.89824 0.200109
TOTAL EQUITY AND LIABILITY 100 100 100 99.15394 100 100 100 100 100 100 99.91539
35
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0
Assets 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE INDUSTRY
non curent assets 0.1556 0.009866 1.587615 10.25307 16.9917 13.27627 0.27752 0.135496 -22.4696 13.27627 3.349376
property plant and equipment 0 0 -1 1306.25 0 -100 -98.9295 0.16875 0 -100 0
long ern invest 0 0.016634 1.240987 44.51189 -6.94281 0 -100 -0.04635 -51.2591 0 -11.2479
long trm dep 0.156685 -0.89923 9.867448 137.1445 29.37534 13.76464 -37.5594 0.147051 22.72782 13.76464 18.84895
TOTAL 0.011375 -0.0174 -0.25075 -3.42668 26.75533 31.37205 12.55332 0.117018 -39.455 31.37205 5.903132
stores spares an loose 0.053136 0.858369 -0.22684 -8.21232 12.57249 -3.95917 40.5747 0.574248 -52.9496 -3.95917 -1.46741
stock and trade -0.19903 1.270958 -0.47978 49.69195 -11.0818 14.87609 1204.73 -0.87552 -46.401 14.87609 122.6408
trade dabit 0.120185 -0.8492 1.856333 110.6277 100.0357 -36.5796 0.215371 -0.76359 565.5431 -36.5796 70.36264
loans adances deposits and recivaables 0.473684 -0.49088 1.11071 -48.2887 115.4155 0 -100 -0.44283 130.9651 0 9.874264
accurel profit 0.373426 -0.23488 9.139052 -47.9141 -89.2204 47.18871 300.6577 -0.41418 -71.054 47.18871 19.57101
short term ivestment 2.480112 -0.36042 0 -100 0 0 0 -1 0 0 -9.88803
taxation net -0.0081 0.256535 -0.52047 59.70565 172.5536 -34.4544 -14.444 0.38137 29.09097 -34.4544 17.81067
cash and bank balance 0.103784 0.196872 0.015726 3.186473 19.30961 13.86029 28.59567 0.135885 -39.8733 13.86029 3.939125
TOTAL ASSETS 0.151185 0.155555 0.026249 3.805769 20.78165 19.91584 28.89903 0.161893 -44.3189 19.91584 4.949409
Reserves 0.144224 0.147337 0.024828 3.592326 19.39014 18.33777 26.01347 -0.88348 475.5317 18.33777 56.06361
total equity 0 0 0 0 -100 -77.0748 -6.8147 -0.02936 382.2581 -77.0748 12.12645
finance leasse -0.24414 -0.91028 10.21519 156.7198 6.933589 -25.5481 -13.3056 0.63556 -5.27457 -25.5481 10.36733
deffered taxation 0.153226 0.331833 0.019484 -2.86463 3.806556 -8.02872 72.73045 -0.15987 -25.0742 -8.02872 3.288545
trade and other liabilities Payables -1 0 0 -100 -76.9761 -22.7776 -92.2645 2.80147 340.3714 -22.7776 2.737705
current portion of liabilities 0 0 -1 0 -100 -40.772 1.336693 0 -100 -40.772 -28.1207
txation Net 0 0 -1 818.5562 111.6214 0 -100 3.08211 244.7048 0 107.6965
total liabilities and equity 0.103784 0.196872 0.024393 2.31345 19.30961 13.86029 28.59567 0.135885 -39.8733 13.86029 3.85269

The Total Assets of AGRI autos
Assets of this company was less in 2009 as compared to industry average (3.85269)
which was -39.87. Whereas, the Total Equity & Liability of this company increased in
2011 which was 28.59 as compared to Industry average. And the Total Equity and
Liability of this company was less in 2009 which was -39.87 as compared to industry
average (3.85269).
36
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Income statement (vertical):

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2012.5
Turn over net 100 100 100 100 100 100 100 100 100 100 100
cost of sales -79.8962 -760.814 -79.9188 81.65878 82.99031 80.8331 83.82497 78.20989 8.272468 82.99031 -42.1849
GROSS PROFT 20.10377 23.91587 20.08118 18.34122 17.00969 19.16851 16.17503 21.79011 1.727512 17.00969 17.53226
distribution costs -1.90485 -1.91832 -1.69121 -1.37893 -0.17543 -1.54393 -1.79043 1.082338 0.120597 1.754031 -0.74461
administrative expences -1.97911 -1.78768 -2.84847 -2.67298 -2.31151 -2.35152 -3.74335 2.292268 0.244028 2.311507 -1.28468
operatinng profitt 3.883962 3.705997 15.5415 -4.05191 16.01921 1.744552 -10.6413 20.20941 1.53055 16.01921 6.396122
other expense -2.02527 -1.5108 -1.29517 0 0 0 -1.19871 0 0 0 -0.603
oother income 18.24507 21.90756 0.685357 4.604504 29.21823 1.964672 3.336172 1.793932 0.145605 2.921469 8.482258
finance costs -0.19674 -0.09158 -0.03512 -0.09849 0.700551 0.460793 -0.00282 0.846748 0.231375 0.700551 0.251527
profiit before taxattiion 1.39576 1.638445 14.89656 17.44266 14.30409 15.80561 12.7759 18.02956 1.196515 14.30412 11.17892
ttaxation 16.65257 19.99065 -5.04416 -47.0184 4.586483 15.80561 -3.01782 5.88805 4.048875 4.586483 1.647837
profiit AFTER taxattiion 11.32764 12.9508 6.862158 6.160006 6.818008 5.107775 12.55328 3.659658 1.033912 4.285028 7.075827
2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2012.5
Turn over net 100 100 100 100 100 100 100 100 100 100 100
cost of sales -79.8962 -760.814 -79.9188 81.65878 82.99031 80.8331 83.82497 78.20989 8.272468 82.99031 -42.1849
GROSS PROFT 20.10377 23.91587 20.08118 18.34122 17.00969 19.16851 16.17503 21.79011 1.727512 17.00969 17.53226
distribution costs -1.90485 -1.91832 -1.69121 -1.37893 -0.17543 -1.54393 -1.79043 1.082338 0.120597 1.754031 -0.74461
administrative expences -1.97911 -1.78768 -2.84847 -2.67298 -2.31151 -2.35152 -3.74335 2.292268 0.244028 2.311507 -1.28468
operatinng profitt 3.883962 3.705997 15.5415 -4.05191 16.01921 1.744552 -10.6413 20.20941 1.53055 16.01921 6.396122
other expense -2.02527 -1.5108 -1.29517 0 0 0 -1.19871 0 0 0 -0.603
oother income 18.24507 21.90756 0.685357 4.604504 29.21823 1.964672 3.336172 1.793932 0.145605 2.921469 8.482258
finance costs -0.19674 -0.09158 -0.03512 -0.09849 0.700551 0.460793 -0.00282 0.846748 0.231375 0.700551 0.251527
profiit before taxattiion 1.39576 1.638445 14.89656 17.44266 14.30409 15.80561 12.7759 18.02956 1.196515 14.30412 11.17892
ttaxation 16.65257 19.99065 -5.04416 -47.0184 4.586483 15.80561 -3.01782 5.88805 4.048875 4.586483 1.647837
profiit AFTER taxattiion 11.32764 12.9508 6.862158 6.160006 6.818008 5.107775 12.55328 3.659658 1.033912 4.285028 7.075827
37
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Company no 7
General tyres vertical analysis

NON currrent assets 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 average industry
plant,property 42.6502 46.51295 36.19735 29.15618 32.27729 47.06944 31.58031 38.99879 47.7588 42.59663 39.4798
intangibles asseet 0.72627 0.531596 0.038294 0.036903 0.022345 0.012826 0.005048 0.000436 0.001261 0.003243 0.137822
investment in an associated companies 0.11757 0.088352 0.062097 0.044552 0.030771 0.017649 0.014501 0 0 0 0.037549
llong terrm loans 0.08515 0.159824 0.196202 0.152503 0.09719 0.179835 0.098904 0.116343 0.060359 0.091988 0.123829
llong terrm deppossit 0.33534 0.479515 0.627648 0.472516 0.371211 0.191638 0.125477 0.15029 0.178179 0.179811 0.311163
sstorres and spares 5.68754 7.288827 9.193175 7.041787 67.93599 10.39581 6.456117 7.401213 9.340284 9.474745 14.02155
stocks 24.1167 23.05456 27.23589 30.46025 29.777 50.69571 39.55489 28.50704 18.29668 26.23543 29.79341
trade debts 10.2214 15.04101 15.91733 21.18724 19.76402 25.59357 14.709 17.79577 17.15192 15.96125 17.33425
prepayments 0.77087 0.970714 2.345577 3.751971 0.551672 0.712552 0.37893 0.703457 0.766948 0.759301 1.171199
others receibles 3.07335 1.011389 0.579312 0.514112 0.442327 0.66987 0.5434 0.52886 0.736214 0.653494 0.875233
taxation 7.45192 1.656497 1.936476 3.27624 6.223461 7.30686 3.883276 3.297189 1.48274 0 3.651466
cash in baank 1.15743 1.715242 4.520682 3.354464 3.125009 3.999332 2.123193 2.07152 3.688431 2.508695 2.826399
TOTAL ASSETSS 100 100 100 100 100 100 100 100 100 100 100
Sharres 8.718 11.00916 14.02376 11.42742 12.48805 20.20926 13.00913 15.58159 18.9096 18.7069 14.40829
paid up capital 6.94782 8.773757 11.17625 9.107086 9.952359 16.10578 10.36763 12.41776 15.07002 14.90848 11.48269
reserved 11.624 0 0 0 0 0 0 0 0 0 1.162401
unappropiated profit 25.5574 34.52192 32.91721 21.8382 19.9109 24.9334 15.12552 15.22751 12.97529 15.57549 21.85828
TOTAL EQUITY 44.1292 43.29568 44.09346 30.94529 29.86325 41.03919 25.49315 27.64527 28.04531 30.48396 34.50338
non currrent liabillites 19.3825 21.11959 15.78799 8.393223 10.96702 10.04608 8.224178 3.600095 8.099613 8.418105 11.40384
current liiabilites 36.4883 35.58473 40.11855 60.66149 59.16972 96.38613 66.28267 62.24859 60.09048 56.10952 57.31402
total equity and liabilities 100 100 100 100 100 100 100 100 100 100 100
38
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Horizontal analysis
plant,property 15.7936 63.68447 1.16484 -1.28569 10.97212 -4.05545 -3.00955 -0.90121 10.91685 10.97212 10.42521
intangibles asseet 72.5252 1668.311 -15.4418 80.4769 181.9328 63.57388 1285.714 -58 -61.5385 181.9328 339.9486
investment in an associated companies 68.0346 81.24059 13.57729 58.22511 182.1374 -21.6507 0 0 0 182.1374 56.37016
llong terrm loans -32.724 3.764414 4.835648 71.47507 -12.5412 17.04665 1.821429 133.9181 -35.0868 -12.5412 13.99681
llong terrm deppossit -11.688 -2.6812 8.238746 39.10469 213.4702 -1.68648 0 2.363096 -1.96976 213.4702 45.86218
sstorres and spares -1.4619 0.995613 6.381501 -88.6726 957.5419 3.653612 4.479744 -3.83579 -2.47589 957.5419 183.4148
stocks 32.0983 7.826551 -27.1396 11.78899 -4.94705 -17.4972 66.19262 89.08211 -31.0072 -4.94705 12.14504
trade debts -14.184 20.36971 -38.782 17.15089 24.96839 12.00706 -1.00119 25.91425 6.30781 24.96839 7.771954
loans and advances 205.74 64.99569 69.97678 15.14862 35.18909 -23.4924 47.09015 -3.24183 -65.3238 35.18909 38.12718
prepayments 0.28278 -47.2828 -49.0583 643.2331 25.29118 21.04733 -35.4814 11.31201 1 25.29118 59.56351
others receibles 283.735 122.3904 -8.17972 27.01675 6.858407 -20.6461 23.06725 -12.8219 11.45038 6.858407 43.97286
taxation 468.087 8.965471 -51.8363 -42.4705 37.8342 21.12401 41.06461 169.8669 #DIV/0! 37.8342 #DIV/0!
cash in baank -14.787 -51.6683 9.815633 17.30552 26.45026 21.25386 22.76201 -31.8418 45.44985 26.45026 7.119005
TOTAL ASSETSS 26.2807 27.38269 -18.5139 9.281484 61.8288 -35.6279 19.7743 21.35862 -1.07196 61.8288 17.25217
unappropiated profit -6.5114 33.59257 22.8258 19.85956 29.2305 6.11309 18.97205 42.42379 -17.5872 29.2305 17.81493
TOTAL EQUITY 28.7119 25.07795 16.10825 13.24107 17.75903 3.627 10.45015 19.62756 -8.986 17.75903 14.3376
non currrent liabillites 15.894 70.39979 53.27859 -16.3653 76.66398 -21.3676 173.6164 -46.0588 -4.81481 76.66398 37.79103
current liiabilites 29.4873 12.98711 -46.1091 12.03665 -0.65618 -6.39217 27.53639 25.71715 5.946962 -0.65618 5.98979
total equity and liabilities 26.2807 27.38269 -18.5139 9.281484 61.8288 -35.6279 19.7743 21.35862 -1.07196 61.8288 17.25217
The Total Assets of General Tyre in

2013 and 2008 increased as compared to industry average which was 61.8288. And the
Total Assets of this company was less in 2012 as compared to industry average
(17.2517) which was -35.62.Whereas, the Total Equity & Liability of this company
increased in 2013 and 2008 which was 61.8288 as compared to Industry average. And
the Total Equity and Liability of this company was less in 2012 which was -35.62 as
compared to industry average (17.2517).
39
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Income statement horizontal:

SALES 100 100 100 100 100 100 100 100 100 100 100
cost of sales -78.683 -75.5037 -79.5772 -81.4671 -83.73 -87.2106 -86.6523 -84.8105 -89.895 -88.9415 -83.6471
gross profit 21.3166 24.49631 20.42278 18.53294 16.27 12.78935 13.34774 15.1895 10.10498 11.05848 16.35287
adminn expense -2.569 2.221722 -2.10965 -2.18792 -16.27 -1.49073 -1.36078 -1.38389 -1.49361 -1.60194 -2.82458
disttribution cost -4.6864 -4.21282 -3.49352 -4.15951 -3.75859 2.955382 -2.66033 -3.25148 -3.23801 -4.44806 -3.09533
ottheer income 0.64207 0.68759 0.690786 1.374565 0.836982 0.91533 0.660551 0.782261 0.827942 1.339927 0.875801
other expense -1.1923 -1.57726 -1.23533 -1.08843 -1.03044 -0.63166 -0.87102 -0.80656 -3.23831 -2.22117 -1.38925
PROFIT FROM OPERATIONS 13.511 17.1721 14.27506 12.47165 10.62801 8.059571 9.537097 10.55413 5.373363 5.008486 10.65905
financce cost -1.2863 -1.43642 -2.72135 -3.79069 -3.54125 -4.88916 -4.26111 -4.08976 -5.62158 -3.96838 -3.5606
PROFIT BROFORE TAXATIONS 12.2776 15.76892 11.55789 8.693465 7.10137 3.16809 5.275984 6.440081 -2.65859 0.159056 6.77839
Taxattions -3.1396 -4.87872 -3.83685 -2.72435 -2.25752 -0.57108 -1.82888 -3.00474 -0.60632 -0.51672 -2.33648
PROFIT FOR THE YEAR 9.13803 10.8902 7.721048 5.969118 4.843845 2.597012 3.458285 3.435341 -2.05227 -0.35766 4.564295
Vertical analysis:
SALES 1.75463 -0.13282 9.324014 5.382128 4.61945 4.396743 17.6609 18.76076 15.96222 17.6609 9.538892
cost of sales 6.03988 -5.24499 7.170597 2.534007 0.444002 5.06947 20.21605 12.04358 17.2054 20.21605 8.569404
gross profit -11.454 19.7867 17.71479 20.03936 33.09185 0.029456 3.394255 78.51751 5.963525 3.394255 17.04781
adminn expense -217.66 -205.172 5.959818 -85.8286 1041.833 14.36588 15.69642 10.03653 8.120392 15.69642 60.30471
disttribution cost 13.1922 20.42926 -7.96187 16.62296 -233.053 -215.975 -3.73111 19.25472 -15.5842 -3.73111 -41.0537
ottheer income -4.9818 -0.59481 -80.4322 73.06786 -4.3356 44.66332 -0.64568 12.20828 -28.3469 -0.64568 0.995678
other expense -23.08 27.50974 20.10695 11.31219 70.66924 -24.2922 27.06452 -70.4206 69.06469 27.06452 13.49988
PROFIT FROM OPERATIONS -19.94 20.13463 20.77939 23.6627 37.95981 -11.7768 6.322662 133.2648 24.41028 6.322662 24.11405
financce cost -8.883 -47.2867 -26.3065 12.80492 -24.2235 19.78389 22.59076 -13.6004 64.27128 22.59076 2.174155
PROFIT BROFORE TAXATIONS -20.774 36.25299 31.79652 29.00832 134.5077 -37.3125 -3.60726 -387.683 -2038.28 -3.60726 -225.97
Taxattions -34.518 26.98556 35.61563 27.17357 313.5708 -67.4015 -28.384 488.5471 36.07046 -28.384 76.92756
PRROFIIT FOR THE YEAR -14.617 40.85829 29.89868 29.86342 95.13207 -21.6029 18.44673 -298.796 565.3984 18.44673 46.30281

The sales of General Tyre
in 2010 increased as compared to industry average which was 18.76. And the sales of
this company was less in 2016 as compared to industry average (9.538892) which was -
0.13282.
40
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Company no 8 GENERAL MOTORS
Balance sheet (VERTICAL):

2017 2016 2015 2014 2013 20122 2011 2010 2009 2008 AVERRAGE INDUSTRY
Notes and loans receivables 11.21271 11.01313 12.04139 16.62751 18.17919 18.80312 22.97601 20.055 26.9489 16.32927 17.41862
Inventory 5.018307 4.979927 7.082506 7.685591 8.439739 9.847278 9.905742 8.729427 7.415532 14.49379 8.359784
Other current assets 2.621869 7.18165 3.012792 2.875477 2.440725 2.220557 2.512396 3.148353 3.589273 9.103791 3.870688
Property, plant and equipment 17.06168 14.70657 16.06943 15.62977 15.55031 16.19306 15.90908 13.84829 13.7107 43.56924 18.22481
Long term investments 4.270009 4.057919 4.734535 4.704199 4.86582 4.606417 4.695615 6.140477 5.822664 2.357232 4.625489
Goodwill and Intangible assets 2.752704 2.773693 3.060132 3.611247 4.345212 5.877314 26.99322 31.43314 33.1773 0.291084 11.4315
Other long term assets 22.5012 21.45609 11.93436 5.606729 3.94604 3.138092 3.062869 4.480986 3.405848 5.050583 8.458279
Total Assets 100 100 100 100 100 100 100 100 100 100 100
Total current liabilities 36.18659 38.42347 36.64595 36.98965 37.51984 36.1339 36.80836 33.95081 38.4717 83.05012 41.41804
Long term debt 31.65162 23.15215 22.4089 17.87089 13.24063 7.048494 5.55521 7.180809 4.080854 31.87425 16.40638
Other non-current liabilities 5.832965 9.040101 6.510821 7.933476 8.027341 8.813294 8.604247 9.661766 9.940937 19.1039 9.346885
Common stock net 0.006589 0.006766 0.007719 0.009014 0.009017 0.009369 0.011065 0.010799 0.011006 0.016476 0.009782
Retained earnings 8.295762 11.80387 10.438 8.212348 8.30568 6.730602 4.967393 0.191507 3.223889 77.68868 13.98577
Comprehensive income 3.770202 4.20858 4.135064 4.548143 1.871423 5.388765 4.053166 0.900661 1.16512 35.52214 6.556326
Total Liabilities And Shareholders' equity 100 100 100 100 100 100 100 100 100 100 100
Horizontal:
2017 2016 2015 2014 2013 20122 2011 2010 2009 2008 AVERAAGE INDUSTRY
Notes aand loan receivibles -2.41655 4.333148 -20.7122 -2.40079 7.630979 -15.4346 19.27053 -24.1601 147.0739 -44.2971 6.88872
Inventory -3.41486 -19.7908 0.894297 -2.82784 -4.58747 2.722703 18.13608 19.96636 -23.4028 -11.6741 -2.39784
Other current assets -65.0085 171.9214 14.71395 25.71429 22.36287 -8.67052 -16.922 -10.6092 -40.9749 -6.3397 8.618776
Property, plant and equipment 11.19529 4.399757 12.56533 7.252484 6.9061 5.177135 19.59969 2.93252 -52.8879 -7.79227 0.93481
Long term investments 0.855936 -2.22802 10.19162 3.162837 17.59407 1.369661 -20.3893 7.472278 269.8043 -69.685 21.81484
Goodwill and Intangible assets -4.87884 3.396671 -7.22309 -11.3171 -17.6953 -77.5011 -10.5978 -3.44767 16963.77 -75.1407 1675.937
Other long term assets 0.515074 105.0877 133.0486 51.61487 39.9872 5.8704 -28.84 34.08014 0.956938 -84.9842 25.73369
Total Assets -4.15355 14.07445 9.48558 6.707185 11.32497 3.332573 4.107331 1.909828 49.71056 -38.852 5.764695
Total current liabilities -9.73339 19.60768 8.468252 5.199321 15.5949 1.439146 12.86978 -10.0658 -30.6489 7.53826 2.026928
Long term debt 31.033 17.85804 37.2876 44.0227 109.1246 31.10917 -19.4606 79.32398 -80.8326 -13.0781 23.63878
Other non-current liabilities -38.1568 58.38931 -10.1477 5.459447 1.397221 5.843112 -7.28763 -0.9521 -22.0964 8.011427 0.045994
Common stock net -6.66667 0 -6.25 6.666667 7.142857 -12.5 6.666667 0 0 0 -0.49405
Retained earnings -32.6391 29.00173 39.15758 5.508107 37.37695 40.01114 2600.376 -93.9463 -93.7874 79.54661 261.0605
Comprehensive income -14.1372 16.10254 -0.45832 159.3318 -61.3388 37.3827 368.5052 -21.2217 -95.0895 131.5884 52.06651
Total Liabilities And Shareholders' equity -4.15355 14.07445 9.48558 6.707185 11.32497 3.332573 4.107331 1.909828 49.71056 -38.852 5.764695
The Total Assets of General Motors in

2009 increased as compared to industry average which was 49.71. And the Total Assets
of this company was less in 2008 as compared to industry average (5.764695) which was
-38.852.Whereas, the Total Equity & Liability of this company increased in 2009 which
41
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was 49.71 as compared to Industry average. And the Total Equity and Liability of this
company was less in 2008 which was -38.852 as compared to industry average
(5.764695).
Income statement vertical:

0
Automotive revenes 100 100 100 100 100 100 100 100 100 100 100
Cost of sales 87.47768 87.24327 87.1608 91.14469 88.38426 92.89815 87.28673 87.70429 107.2723 100.1866 91.67587
Gross profit 12.52232 12.75673 12.8392 8.855312 11.61574 7.101855 12.71327 12.29571 7.272275 0.186603 9.815902
SG&A expense 6.573344 6.93439 8.758887 7.797138 7.966441 9.2154 8.093774 8.441501 11.63315 9.56712 8.498115
Operating expenses 94.05102 94.17766 95.91969 99.01878 96.69877 119.9421 96.23626 96.23282 120.1006 114.2503 102.6628
Operating income 5.948979 5.82234 4.080309 0.981216 3.301228 19.94207 3.763741 3.767184 20.10058 14.25033 8.195798
Total nonoperating expenses 0.734951 0.697126 0.471542 0.398899 0.332632 0.06962 0.218931 0.463892 118.0965 5.531652 12.70158
Pretax Income 6.68393 6.519466 4.551851 1.380115 3.63386 19.87245 3.982672 4.231076 97.99597 19.78198 16.86334
Income taxes 7.921669 1.835988 0.89814 0.14622 1.368488 22.8766 0.073199 0.495604 2.070963 1.185402 3.887228
Income After Taxes 1.237739 4.683478 5.449991 1.233895 2.265372 3.004151 4.055871 3.735471 100.0669 20.96738 14.67003
Income from continuous operations 0.226667 6.213133 7.065758 2.576814 3.429906 4.030055 6.179962 4.796006 100.6004 20.84253 15.59613
Net Income 2.665055 6.319042 7.137226 1.798254 2.425576 3.191336 5.047379 3.442681 100.0966 20.77004 15.28932
Horizontal:
Automotive revenes -2.41045 9.916375 -12.9572 0.322981 2.082677 1.317576 10.82955 29.6427 -29.7961 -17.2265 -0.82784
Cost of sales -2.14824 10.02037 -16.7618 3.456283 -2.87748 7.830999 10.30188 5.994028 -24.831 -9.85426 -1.88692
Gross profit -4.20367 9.210375 26.2022 -23.5183 66.96569 -43.4023 14.59333 119.1954 2635.971 -98.0709 270.2943
SG&A expense -7.49154 -12.9795 -2.22076 -1.80908 -11.7525 15.35805 6.264197 -5.92587 -14.6355 -1.10325 -3.62958
Operating expenses -2.54167 7.920146 -15.6814 2.729946 -17.6997 26.27507 10.83351 3.87861 -26.2013 -7.64218 -1.8129
Operating income -0.28782 56.84363 261.9608 -70.1813 -83.1011 436.8281 10.72827 -75.7028 -0.97504 392.6897 92.88025
Total nonoperating expenses 2.884615 62.5 2.893891 20.30948 387.7358 -67.7812 -47.6948 -99.4908 1398.799 304.5655 196.4721
Pretax Income 0.051409 57.42959 187.0818 -61.898 -81.3332 405.5472 4.322817 -94.4025 247.7758 364.4028 102.8978
Income taxes 321.0661 124.6924 434.6491 -89.2807 -93.8934 31564.55 -83.631 -68.9751 22.65006 -95.2093 3203.661
Income After Taxes -74.2092 -5.54279 284.4595 -45.3564 -23.0214 -24.9549 20.33564 -95.1605 235.0482 -27.7072 24.38908
Income from continuous operations -96.4397 -3.34724 138.676 -24.6295 -13.1193 -33.9291 42.81101 -93.8194 238.8522 -18.5782 13.64765
Net Income -58.8416 -2.68401 245.4708 -25.6233 -22.412 -35.9394 62.48929 -95.5411 238.3318 -19.7162 28.55342

The sales of General
Motors in 2010 increased as compared to industry average which was 29.6427. And the
sales of this company was less in 2009 as compared to industry average (-0.82784)
which was -29.7961.
42
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Company #09 MILLAAT TRACTORS:
VERTICAL ANALLYYSIS OF BALANNCE SHEET:

Balance SHEET 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE INDUSTRY
property, plants and equipments 6.300517 4.643198 6.300517 6.857882 4.380039 4.021134 5.072997 5.802146 4.103293 0.367791 4.784951
Capital work in progress 2.719599 2.332675 2.719599 3.026902 1.993908 1.626722 1.807074 1.492456 2.47606 0.205809 2.04008
intengible assets 0.050161 0.03414 0.050161 0.839088 0.008215 0.05676 0.205172 0.432109 0.234294 0.026374 0.193647
investment property 3.316909 2.649461 3.316909 3.64355 2.497934 2.472161 2.97855 0.390841 3.75909 0.40806 2.543347
long term investments 4.793517 4.11268 4.793517 4.926547 3.459281 2.786165 3.400204 5.459469 4.340037 0.453789 3.852521
long term loans 0.024788 0.015366 0.024788 0.027657 0.020172 0.026123 0.033314 0.048278 0.060335 0.00661 0.028743
employee benefits 1.861562 0 1.861562 4.186318 2.338675 1.628801 0.98974 0 0 0 1.286666
stores and speares 1.389777 1.159561 1.389777 1.723415 1.303974 0.661469 1.532432 1.127821 1.077245 0.070345 1.143581
stock in trade 31.52044 26.37446 31.52044 34.67733 25.4152 28.86953 30.05589 30.18543 22.51237 2.936411 26.40675
trade debts 2.391641 2.965335 2.391641 1.734529 9.516253 3.976662 20.551 2.126744 1.412533 0.440367 4.75067
loans and advanes 0.89092 0.746747 0.89092 1.739032 0.698442 1.755064 2.507786 1.533753 1.349543 0.100796 1.2213
trade deposits and prepayments 0.295075 0.252463 0.295075 0.344794 2.675489 0.242694 0.222854 0.237897 0.107075 0.008471 0.468189
balance with statutory authrity 9.952946 12.26923 9.952946 4.529046 18.60855 15.94366 7.477102 0 0 0 7.873347
other receivables 0.797823 1.085406 0.797823 1.705291 0.844826 0.943878 0.867491 1.584834 16.06107 0.664333 2.535278
taxation net 10.57432 6.518775 10.57432 13.4362 2.863039 4.857534 1.600096 0.074226 1.128238 0.128959 5.17557
short term invesments 9.082664 8.292304 9.082664 1.424887 5.39106 23.80104 34.61038 1.622684 38.96326 3.983606 13.62545
cash and bank balance 14.03734 26.5482 14.03734 15.93272 20.39293 6.330604 4.583608 14.45736 3.430999 0.194915 11.9946
Total assets 100 100 100 100 100 100 100 100 100 100 100
share holder equity 61.11435 42.91391 61.11435 63.94691 47.62453 50.42971 54.19039 50.9088 41.81294 4.303214 47.83591
non current liabilties 0.269923 1.058622 0.269923 0.419444 0.294507 0.275825 0.420397 1.195395 1.140827 0.123482 0.546835
current liabilities 38.61572 56.02746 38.61572 35.63365 52.08096 49.29446 45.38922 47.89581 57.04624 5.56994 42.61692
Total liabilities and equity 100 100 100 100 100 100 100 100 100 100 100
43
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HORIZONTAL ANALYSIS OF BALANCE SHEET:

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE INDUSTRY
property, plants and equipments 0.920022 -7.73922 0.920022 7.341623 7.801628 -4.49811 7.370975 36.01347 29.39377 7.370975 8.489515
Capital work in progress -1.30442 7.380521 -1.30442 4.075704 21.3075 8.458975 48.69123 -42.0216 39.53353 48.69123 13.35082
intengible assets -93.4333 -14.7918 -93.4333 6902.14 -85.6754 -66.6686 -41.6909 77.40193 3.031403 -41.6909 654.5189
investment property 0 0 0 0 0 0 835.8709 -89.999 6.841788 835.8709 158.8585
long term investments 6.881562 7.410504 6.881562 -2.36333 22.8782 -1.27438 -23.5169 20.99929 10.92297 -23.5169 2.530262
long term loans -1.5456 -22.3967 -1.5456 -6.00484 -23.5751 -5.52448 -15.2593 -23.0331 5.866731 -15.2593 -10.8277
stores and speares -11.4178 4.453944 -11.4178 -9.38982 95.09931 -47.9937 66.85988 0.705053 77.6094 66.85988 23.13683
stock in trade -0.15236 4.753204 -0.15236 -6.45763 -12.8736 15.72794 22.27654 28.97394 -11.0826 22.27654 6.328958
trade debts 51.46265 55.22218 51.46265 -87.504 136.8336 -76.6862 1086.666 44.82466 -62.798 1086.666 228.615
loans and advanes -43.7241 4.932807 -43.7241 70.69988 -60.6148 -15.68 100.7918 9.318733 55.28395 100.7918 17.80759
trade deposits and prepayments -5.99223 7.112713 -5.99223 -91.1649 991.0409 31.20949 15.03818 113.7111 46.60889 15.03818 111.661
balance with statutory authrity 141.3993 54.32695 141.3993 -83.3141 15.51022 156.911 0 0 0 0 0
other receivables -48.6075 70.31834 -48.6075 38.38442 -11.4176 31.09273 -32.781 -90.5085 180.3954 -32.781 5.548784
taxation net -13.5496 -22.8227 -13.5496 221.7403 -41.6679 265.7613 2547.292 -93.6718 1.468859 2547.292 539.8294
short term invesments 600.203 14.29785 600.203 -81.8798 -77.5832 -17.1452 2519.29 -95.9941 13.43869 2519.29 599.412
cash and bank balance -3.21989 136.7698 -3.21989 -46.4368 218.8089 66.40475 -61.066 305.3165 104.1542 -61.066 65.64456
Total assets 9.847751 25.19186 9.847751 -31.4423 -1.03174 20.48361 22.80355 -3.81091 16.01884 22.80355 9.071196
share holder equity 4.981998 -12.0915 4.981998 -7.94551 -6.53691 12.12236 30.71949 17.11378 12.69382 30.71949 8.675904
non current liabilties -29.3101 390.9943 -29.3101 -2.35837 5.671223 -20.9498 -56.8124 0.789985 7.151811 -56.8124 20.90542
current liabilities 19.04059 81.64058 19.04059 -53.093 4.562706 30.84991 16.37672 -19.24 18.78425 16.37672 13.4339
Total liabilities and equity 9.847751 25.19186 9.847751 -31.4423 -1.03174 20.48361 22.80355 -3.81091 -88.402 22.80355 -1.37089
INTERPRETATION OF BALANCE SHEET
The value of asset have maximum value in 2016 then average industry. The
asset have values greater then industry average except 2014,2011 which
value is lower then average.
44
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VERTICAL ANALYSIS OF INCOME STATEMENT

net sales 100 100 100 100 100 100 100 100 100 90
cost of sales 80.27733 80.83318 82.05731 82.3318 82.94445 82.17465 81.32153 90.29331 89.70404 75.19376
gross profit 19.72267 19.16682 1.788373 19.38875 17.05555 17.82535 18.68627 9.706686 10.29596 13.36364
distribution and marketing expenses 2.070229 2.245221 2.937264 0.217794 2.229355 2.173733 3.104518 3.299561 3.158892 2.143657
administrative expenses 2.51467 0.650975 2.2073 0.149823 1.542875 1.234259 1.515376 1.889148 1.672253 1.337668
operating profit 15.5855 15.09353 12.79812 1.399109 13.10898 14.41735 14.06637 4.517977 54.64814 14.56351
other operating income 1.609623 1.76196 1.805202 0.132774 2.348448 2.733193 1.475062 2.829939 3.034401 1.77306
other operating expenses 1.162486 1.153331 0.964455 0.105589 1.142957 1.368847 0.784083 0.318824 0.145939 0.714651
finance cost 0.090459 0.040806 0.477444 0.028439 0.318321 0.038458 0.030437 0.347986 0.688204 0.206055
profit before text 15.49505 15.66136 13.16143 13.73327 14.28166 15.74324 15.46897 7.004091 7.665071 11.82141
taxation 5.146723 5.274969 4.229151 0.455673 4.458954 5.001692 51.84129 1.545529 1.854729 7.980871
Profit after TAXT 10.34832 10.38639 8.932275 0.942182 9.822705 10.76718 102.8371 5.458562 5.810342 16.53051
0
HORIZONTAL ANALYSIS OF INCOME STATEMENT:

net sales -92.6913 -26.2626 38.26355 -92.6913 1027.438 -19.0246 546.253 32.30624 -73.4718 -19.0246 132.1095
cost of sales -27.1563 -26.7696 36.20093 -27.1563 11.91109 -18.266 553.0326 19.15994 -73.2975 -18.266 42.93927
gross profit -99.3259 -24.1241 1381.834 -99.3259 1181.672 -22.5215 516.4786 154.7017 -74.9901 -22.5215 289.1877
distribution and marketing expenses -1.43112 -32.0097 5.687555 -1.43112 10.1435 -16.9526 352.4958 24.48539 -72.2905 -16.9526 25.17448
administrative expenses 7.677583 184.8426 -59.2235 7.677583 9.481407 1.22264 426.3666 6.129173 -70.031 1.22264 51.53658
operating profit -33.1446 -23.8591 63.06184 -33.1446 20.33045 -26.3731 562.3782 311.9252 -97.8068 -26.3731 71.69944
other operating income -0.63043 -32.6378 34.95157 -0.63043 -36.2579 -30.4233 1097.464 -31.0374 -75.2593 -30.4233 89.5116
other operating expenses -33.242 -25.6772 65.34065 -33.242 4.155784 -32.3873 1028.224 225.3802 -42.0454 -32.3873 112.4119
finance cost 22.70037 63.46154 -88.183 22.70037 0.727125 570.2364 716.567 -88.4277 -86.5862 570.2364 170.3432
profit before text -92.9956 -27.0456 64.52585 -92.9956 984.1472 -26.5422 557.7114 192.2065 -75.7594 -26.5422 145.671
taxation -32.1668 -28.0553 72.45445 -32.1668 15.2161 -27.8113 -37.649 4337.916 -77.8943 -27.8113 416.2031
Profit after TAXT -30.7102 -26.5328 60.77191 -30.7102 8.142523 -26.1276 -32.3365 2392.597 -75.0779 -26.1276 221.3888
Interpretation of income statement

The gross profit have greater value then average industry in all years except 2008,2009
.on the other hand the net profit is less then average industry in reach years due to the
more expenses occur.as moves the year forward the income of the company improving
gradually.
45
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COMPANY NO 10:HINO PAK LIMITED:
VERTICAL ANALYSIS OF BALANCE SHEET:

ASSETS 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE INDUSTRY
Propperty ,plant and equipment 21.39599 28.05605 42.59836 24.26712 26.06503 33.87352 26.57604 15.99392 18.94348 18.05951 25.5829
oothers non current assets 0.089841 0.168952 0.38956 0.128938 0.065163 0.008696 0.016283 0.046837 0.109846 0.065153 0.108927
long term invesrment 0.000484 0.000696 0.001363 0.005109 0.030126 0.087549 0.035704 0.069646 0.109447 0.122161 0.046228
long term deposiit 0.053697 0.068774 0.127386 0.082958 0.08852 0.11917 0.089931 0.204584 0.261434 0.144558 0.124101
long term loans and advances 0.148238 0.234546 0.272302 0.173093 0.189781 0.270751 0.155363 0.221821 80.57519 81.60373 16.38448
prepayment 0 1.957861 0 0.152536 0 0 73.11025 83.46319 100 99.98901 35.86728
current assets 78.29993 71.43709 144.8383 75.1855 73.56337 65.63241 100 100 33.31336 38.44008 78.07101
total assets 100 100 100 100 100 100 100 100 100 100 100
share holders eqquity 36.57222 47.38223 83.52162 33.68203 28.33444 29.98024 0.830296 0.557164 0 0 26.08602
deferred taxation 0.850035 1.262175 188.2353 0.924462 0.796284 0.383004 1.611443 0.866913 0.229678 0.6839 19.58432
other non current liabilites 1.161023 1.530511 1.850409 1.27965 16.57598 2.73913 15.33097 8.739294 5.540244 5.794517 6.054172
other current liabilites 61.4029 49.82111 2.824309 14.79139 53.01924 34.3083 41.27831 58.91802 32.29479 52.16287 40.08212
total eqiuty and liabilites 100 100 100 100 100 100 100 100 100 100 100

ASSETS 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
Propperty ,plant and equipment 9.670563 29.08093 9.62406 1.578411 14.58576 -3.65374 93.66638 -3.1534 6.933484 2.61 16.09425
oothers non current assets -23.5294 -15 88.67925 115.8859 1015.909 -59.633 -59.4796 -51.0909 71.875 350.7 143.4316
long term invesrment 0 0 -83.3333 -81.4978 -48.7585 85.35565 -40.25 -27.0073 -8.66667 0 -20.4158
long term deposiit 12.28324 5.810398 -4.10557 2.248876 10.6136 0.166113 -48.766 -10.2368 84.3662 -27.7 2.468007
long term loans and advances -9.11017 68.81259 -1.75685 -0.48951 4.379562 31.73077 -18.3673 -99.6842 0.658683 5.33 -1.84965
prepayment -100 0 -100 0 0 -100 2.094459 -4.26203 1.954795 0 -30.0213
current assets 57.62382 -3.33513 20.30416 11.51001 66.90756 -50.3884 16.55178 244.3267 -11.6525 22.97 37.4818
total assets 43.80839 4.118377 17.5426 9.098992 48.93281 236.8842 -0.06653 4596.875 4546.9 18.64 952.2734
share holders eqquity 10.99924 11.1847 54.85735 29.69555 40.7383 2629.399 73.6875 0 0 2.61 285.3172
deferred taxation -3.14961 -98.6858 12615.79 26.66667 209.5975 -82.0339 116.6499 332.9565 -65.7636 30.98 1308.301
other non current liabilites 9.090909 62.10526 -91.5773 801.1544 -86.4946 104.4618 80.94088 -2.52987 -58.71 81.84415
other current liabilites 77.23918 3357.241 -88.0757 -69.562 130.1267 -37.1736 -18.3431 109.269 -36.8852 23.47 344.7307
total eqiuty and liabilites 43.80839 4.118377 17.5426 9.11347 48.91304 -24.4099 16.55178 14.70681 1.943586 18.64 15.09281
Interpretation of balance sheet

The current asset of the company having more value then average industry its Means it
have ability to pau current liability obligations. The total asset value is less then average
industry in 2011.
46
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VERTICAL ANALYSIS OF INCOME STATEMENT:

PROFIT & LOSS ACCOUNT 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
sales 100 100 100 100 100 100 100 100 100 100 100
cost of sales 88.59666 89.02878 84.72852 84.37797 85.53432 89.24017 89.63157 96.504 89.69632 82.27703 87.96153
GGROSS PROFIT 11.39959 10.97122 15.27148 15.61412 14.45482 10.74655 10.35702 3.496001 10.29545 17.72297 12.03292
distrriibution cost 1.653203 1.89972 2.200597 2.397911 3.323197 3.918704 3.741303 2.588299 3.28368 3.424482 2.84311
Addmin expenses 1.578057 1.712862 2.172951 2.841089 2.758471 2.736451 2.190031 1.446931 1.695334 1.788909 2.092109
other income 1.127184 1.130044 1.061595 2.065527 1.78106 0.943146 1.288924 0.009167 0.164513 0.868899 1.044006
other expense 0.46966 0.578369 0.724317 1.092118 0.86881 0.083555 0.114064 0.691112 1.390832 0.736008 0.674884
PROFIT FROM OPERATION 8.822093 7.90141 11.22968 11.34853 9.274544 4.954835 5.600548 0.137413 6.534442 12.35625 7.815974
Finnance cost 2.551193 0.355919 1.680858 -0.93384 -0.86881 4.317216 3.627239 1.309517 5.579788 0.806287 1.842537
PROFIT BEFORE TAXATION 6.2709 7.545491 9.548822 12.28237 10.15421 0.63762 1.973309 -1.1721 0.953008 11.55891 5.975253
taxation 1.953785 2.56262 3.394891 3.790757 3.377498 0.252391 1.676742 0.158623 0.377747 4.018656 2.156371
PROFIT AFTER TAXATION 4.317114 4.978422 6.153931 8.491611 6.765856 0.385228 0.296567 -1.33073 0.576084 7.539612 3.81737

sales 18.40993 24.27845 43.13074 37.2285 22.31668 -14.1325 -21.2097 -8.42729 55.2645 22.44 17.92993
cost of sales 17.83519 30.58601 43.72538 35.37329 17.23727 -14.5075 -26.8206 -1.4772 69.26541 15.86 18.70772
GGROSS PROFIT 23.03325 -10.7169 39.98986 48.23441 64.5241 -10.9031 133.419 -68.9049 -9.80534 66.27 27.51405
distrriibution cost 3.044496 7.286432 31.35314 -0.98039 3.728814 -10.061 13.88889 -27.8195 48.8806 42.67 11.19914
Addmin expenses 9.090909 -2.03562 9.470752 41.33858 23.30097 7.291667 19.25466 -21.8447 47.14286 17.27 15.02801
other income 18.11024 32.29167 -26.4368 59.14634 130.9859 -37.1681 10978.43 -94.8974 -70.6029 75.65 1106.551
other expense -3.84615 -0.76336 -5.07246 72.5 1171.86 -37.1 -86.9961 -54.497 193.4028 -20.67 122.8818
PROFIT FROM OPERATION 32.20721 -12.5554 41.6318 67.91569 128.9544 -24.0326 3111.249 -98.0743 -17.8904 72.76 330.2166
Finnance cost 748.75 -73.6842 -357.627 47.5 -124.615 2.201258 118.2417 -78.5088 974.4849 30.46 128.7202
PROFIT BEFORE TAXATION -1.59198 -1.79502 11.27577 65.9893 1847.917 -72.2543 -232.648 -212.625 -87.1988 76.76 139.3828
taxation -9.72222 -6.18893 28.18372 54.01929 1536.842 -87.0748 732.8612 -61.5468 -85.4054 67.43 216.9398
PROFIT AFTER TAXATION 2.680965 0.539084 3.727866 72.23114 2048.276 11.53846 -117.559 -311.529 -88.1366 82.18 170.3949
Income statement interpretation.

The sales of the company is better then average industry in each year except 2010,2011
the gross profit value increasing or decreasing over the years. Some time value greater
then average industry or some time less then average industry..
47
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COMPANY #11 INDUS MOTORS :
VERTICAL ANALYSIS OF BALANCE SHEET :

BALANCE SHEET 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 AVERAGE INDUSTRY
Fixed Assets 29.34245 19.01769 12.24851 15.74809 12.59428 10.92213 23.10137 10.28592 8.549281 9.796493 15.16062
Intangibles 0 0 0 0 0 0 0.00383 0.019842 0.033022 0.137758 0.019445
Long Term Loans And Advances 0.305499 0.140191 0.058958 0.044718 0.021758 0.521808 0.111064 0.021826 0.006952 0.014089 0.124686
Long Term Investments 0 0 0 0 0 0 0 9.831544 8.700488 0 1.853203
Long Term Deposits And Prepayments 0.050916 0.033839 0.025794 0.033538 0.029011 0.039833 0.038298 0.019842 0.01738 0.014089 0.030254
Deferrd Taxation 0 0 0 0 0 0.139414 0 0.009921 0.345864 0.115842 0.061104
Stores And Spares 1.687518 0.618776 0.412705 0.708031 0.645489 0.613424 0.543832 0.355166 0.267654 0.319349 0.617194
Stock in Trade 19.18825 19.76699 19.15395 21.20365 27.30635 31.40012 17.11539 12.20262 13.53042 14.58673 19.54545
Trade Debts 9.695956 8.396983 5.943695 5.053102 5.294459 5.508863 6.652369 0.888907 1.96743 1.188165 5.058993
Loans And Advances 5.36078 4.326598 3.095291 3.450717 3.426893 6.205935 3.852782 2.422667 1.955264 2.587664 3.668459
Short Term Prepayments 0.167297 0.082181 0.070013 0.070803 0.076153 0.043816 0.057447 0.037699 0.078211 0.032874 0.071649
Accrued return on Bank Deposits 0.254582 0.246544 0.210038 0.197503 0.163185 0.047799 0.333193 0.831366 0.8916 0.588604 0.376441
Other Receivables 0.53826 0.328725 0.722235 0.558971 1.624601 0.64529 0.674045 0.33334 0.33196 0.629305 0.638673
Investments 0.392784 0 0 18.6063 9.758486 26.67994 34.93164 52.09826 58.56579 64.94678 26.598
Taxation-payment less provision 1.527495 0 0 1.486864 0 0.521808 4.657041 0 0 0 0.819321
Cash and bank balances 31.48822 47.04148 58.05881 32.83771 39.05933 16.70982 7.920034 10.64505 4.758677 5.042267 25.35614
Total Assets 100 100 100 100 100 100 100 100 100 100 100
Issued and subscribed and paid-up capital5.717195 3.799671 2.896308 2.929011 2.850305 3.13085 3.010226 1.559555 1.366077 1.230432 2.848963
Reserves 62.91824 45.97796 43.48883 49.68884 58.84827 67.34515 73.26414 46.13187 46.6552 47.60645 54.1925
Shareholder's Equity 68.63544 49.77763 46.38514 52.61785 61.69858 70.476 76.27437 47.69142 48.02127 48.83688 57.04146
Deferred Taxation 3.869654 2.43643 1.201268 1.69182 0.601973 0 0.838727 0 0 0 1.063987
Deferred Revenue 0 0 0 0 0 0 0 0 0 0.006262 0.000626
Trade, other payables and provisions 20.63573 19.0612 21.75916 21.3937 23.61474 23.95539 16.96603 18.21663 17.44095 15.15811 19.82016
Advances from customers and dealers 6.85918 28.65223 29.75532 24.29663 13.86713 5.572595 5.920876 32.12961 33.24296 34.73544 21.5032
Accrued mark-up 0 0.004834 0.003685 0 0 0 0 0 0 0 0.000852
Short term running Finance 0 0 0 0 0 0 0 0 0 0 0
Taxation-provision less payment 0 0.072513 0.895423 0 0.217581 0 0 1.964325 1.294819 1.263306 0.570797
Total Equity and Liabilities 100 100 100 100 100 100 100 100 100 100 100
48
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BALANCE SHEET 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 AVERAGE
Fixed Assets 92.6 -2.47893 -15.5058 27.13598 -17.8183 -21.0481 119.9854 -14.0584 -5.11188 27.22098 19.0921
Intangibles 0 0 0 0 0 0 0 900 90 363.1579 135.3158
Long Term Loans And Advances 50 -30.9524 -44.8276 -25 -50 2083.333 -77.8626 -62.069 -63.6364 125 190.3985
Long Term Investments 0 0 0 0 0 0 0 0 1.029263 -100 -9.89707
Long Term Deposits And Prepayments 0 0 0 28.57143 -11.1111 25 0 0 0 -10 3.246032
Deferrd Taxation 0 0 0 0 0 -100 0 3880 -62.8141 371.7186
Stores And Spares 2.2 -44.8276 -12.5 69.64286 -6.31579 -13.4831 -7.79221 26.05634 -13.9665 32.46753 3.148152
Stock in Trade -7.7 55.00379 27.12155 9.465179 32.33743 4.687915 -43.3084 37.61468 26.58537 19.69171 16.14992
Trade Debts 100.2 30.30758 -7.13874 -15.933 7.669617 -5.27397 25.59653 -74.2084 152.6786 -32.9505 18.09476
Loans And Advances 83.3 21.43826 -6.14525 10.2381 2.051836 64.86772 -35.43 21.37177 -7.86241 46.93333 20.07633
Short Term Prepayments -52.1 -26.087 11.76471 0 10.52632 -47.619 36.36364 26.66667 136.8421 -53.3333 4.302409
Accrued return on Bank Deposits -73.7 45.71429 11.76471 -7.01754 -15.0943 -73.3333 625 381.6092 22.43437 -26.7057 89.06717
Other Receivables -87.8 -8.10811 188.2353 -23.4694 198.6667 -63.8393 8.641975 -4.54545 13.69048 110.4712 33.19434
Investments 100 -100 0 0 -46.1045 148.9038 36.17498 187.8741 28.3353 23.12075 37.83044
Taxation-payment less provision 328.6 -100 0 0 -100 0 828.2443 -100 0 0 85.68443
Cash and bank balances -49.3 124.7863 61.91553 -44.0721 22.23105 -61.0528 -50.7032 159.4294 -48.9655 17.64061 13.19093
Total Assets -12.2 50.46552 31.19018 -1.11652 2.761319 -8.96069 4.00717 93.01827 14.16298 11.02421 18.43524
Issued and subscribed and paid-up capital 0 0 0 0 0 0 0 0 0 0 0
Reserves 19.2 9.953757 24.0879 12.98085 21.70391 4.184126 13.1484 21.53685 15.45806 13.28789 15.55418
Shareholder's Equity 17.3 9.124629 22.2492 12.17032 20.49575 3.990831 12.56429 20.68688 14.95257 12.90988 14.64444
Deferred Taxation 153.3 -5.26316 -35.3175 39.2638 -63.4361 -100 0 -100 0 0 -11.1453
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0
Trade, other payables and provisions -1.9 38.98484 49.75907 -2.77731 13.42972 -7.64742 -26.3385 107.246 9.301819 -3.50772 17.65505
Advances from customers and dealers -79.1 528.526 36.24093 -19.257 -41.3497 -63.4153 10.50751 947.4127 18.11894 16.00878 135.3693
Accrued mark-up -100 0 0 -100 0 0 0 0 0 0 -20
Short term running Finance 0 0 0 0 0 0 0 0 0 0 0
Taxation-provision less payment 0 0 1520 -100 0 -100 0 0 -24.7475 8.322148 130.3575
Total Equity and Liabilities 12.2 50.46552 31.19018 -1.11652 2.761319 -8.96069 4.00717 93.01827 14.16298 11.02421 20.87524
Balance sheet interpretation.

‘By analysis of vertical analysis we determine that the asset percentage is equal to 100%
and current asset is better value greater value then average industry. Similarly in liability
and equity portion the sum is equal to 100%

PROFIT AND LOSS ACCOUNT 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
Net Sales 100 100 100 100 100 100 100 100 100 3.231027 90.3231
Cost OF Sales 90.7107 93.86241 91.91919 93.37309 91.47383 90.82392 89.84649 85.24183 83.69683 1.563272 81.25116
Gross Profit 9.289301 6.137594 8.080808 6.626906 8.526175 9.17608 10.15351 14.75817 16.30317 11.79291 10.08446
Distribution Costs 1.175647 1.241252 0.778793 1.11826 1.065447 1.275282 1.39142 1.031953 0.97556 15.73987 2.579348
Administrative Expenses 0.716976 0.929618 0.635681 0.750369 0.815977 1.008946 1.112786 0.827842 0.856029 13.10419 2.075841
Other Operating Expeses 0.738702 0.41199 0.69226 0.576957 0.670452 0.683075 0.743025 1.21327 1.313926 11.61652 1.866017
Other Income 1.899865 1.919979 2.988701 2.443965 2.307602 1.62622 1.950442 3.011936 2.909211 13.55879 3.461671
Operating Profit before Finance Costs 8.557841 5.474713 8.962774 6.625286 8.280602 7.83343 0 0 0 0 4.573465
Finance Costs 0.007242 0.071306 0.239629 0.124791 0.079259 0.048567 0.066592 0.053877 0.070799 416.8831 41.76452
Profit before taxation 8.550599 5.403407 8.723146 6.500494 8.201344 7.786429 8.79013 14.64317 15.99606 10.02472 9.46195
Taxation 3.019988 1.745675 2.993693 2.055005 2.611645 2.525498 2.003014 5.203282 5.463506 3.332211 3.095352
Profit After Taxation 5.53061 3.657731 5.729453 4.445489 5.590998 5.260932 6.787116 9.43885 10.53256 13.49629 7.047003
49
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2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 AVERAGE
PROFIT AND LOSS ACCOUNT 0
Net Sales 6 -8.59164 58.70329 2.679181 24.73137 -17.0653 -10.5986 69.13641 12.68391 3.231027 14.09096
Cost OF Sales 8.5 -5.41569 55.41769 4.303275 22.19426 -17.6546 -11.5608 60.46811 10.64153 1.563272 12.84571
Gross Profit -13.4 -39.605 108.9501 -15.7949 60.47933 -10.7437 -1.07564 145.8405 24.48048 11.79291 27.09241
Distribution Costs -4.5 -3.49076 -0.42553 47.4359 18.84058 -0.73171 -2.457 25.44081 6.526104 15.73987 10.23783
Administrative Expenses 12.1 18.51852 8.522727 21.20419 35.63715 2.547771 -1.39752 25.82677 16.52065 13.10419 15.25844
Other Operating Expeses -12.1 -49.0196 166.6667 -14.4231 44.94382 -15.5039 -2.75229 176.1792 22.03245 11.61652 32.76398
Other Income -17.7 -7.62389 147.0426 -16.0356 17.77188 -41.5541 7.225434 161.186 8.840729 13.55879 27.27119
Operating Profit before Finance Costs -17.1 -41.5233 159.8167 -24.0995 55.8953 -21.544 -100 0 0 0 1.144519
Finance Costs -93.2 800 433.3333 -46.5278 -20.7792 -49.1803 22.58065 36.84211 48.07692 416.8831 154.8029
Profit before taxation -16.3 -42.236 156.2072 -23.4834 57.36724 -21.2611 0.925553 181.7584 23.09488 10.02472 32.60975
Taxation -15.7 -47.1623 172.1634 -29.5164 58.51735 -19.801 -29.0943 339.3701 18.31939 3.332211 45.04285
Profit After Taxation -16.6 -39.546 148.5921 -20.3311 56.87204 -21.9614 15.33651 135.2182 25.74094 13.49629 29.68174
Income statement interpretation .

In the vertical analysis we now the sales percentage is 100%. The gross profit value is
approximately equal to average industry .little bit values is showing up and downs. The
maximum value of gross profit in 2009!then average industry.
COMPANY NO 12 ISUZU MOTORS:

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
current assets 50.90338 51.38564 48.91075 45.86767 48.91077 54.87208 45.86767 45.03155 47.51899 45.26248 48.4531
prpperty plant and equip 36.23844 35.6142 39.24025 43.57671 39.24028 9.185541 43.57671 8.985695 5.604521 9.212931 27.04753
intengible assets 0.874563 0.771692 0 0 0 0 0.703936 0.273698 0 0 0.262389
investments and advances 11.81385 12.0909 11.25085 9.851509 11.25091 0.018074 9.851509 0.01904 0.012627 0.01818 6.617745
TOTAL ASSETS 100 100 11.25085 100 100.002 100 10.10905 99.99872 100 100 82.13607
long terml liabilities 10.83662 10.33704 0.698202 8.460626 0.698227 3.631012 16.51252 6.395822 78.62628 418.1809 55.43773
share holder equity 38.06976 35.79819 3.349591 25.82172 30.52995 74.74363 25.82172 4.923437 41.16158 4.189737 28.44093
TOTAL LIABILITY AND EQUITY 100 100 100 100 100 100 100 100 100 100 100

BALANCE SHEET 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
current assets 2.979332 56.65207 16.31034 -92.9336 124.1752 531.2659 -79.893 -36.1421 50.01387 -36.1421 53.62859
prpperty plant and equip 5.777077 35.32875 -1.78042 -91.632 974.3895 11.22897 -4.26714 8.038318 -13.0753 8.038318 93.2046
investments and advances 1.572978 60.24041 24.56704 -93.402 156451.8 -99.0319 10113.79 1.609848 -0.75188 1.609848 16646.2
TOTAL ASSETS 3.954965 1225.298 -87.7283 -92.4649 151.503 5119.842 -98.0044 -32.6156 42.89022 -32.6156 620.0059
current liabilities -1.5817 17.5173 17.93423 -93.0309 403.9125 184.7514 -89.1036 1785.476 -82.6457 1785.476 392.8705
long terml liabilities 8.979014 2107.566 -90.9988 -8.69308 -51.6381 16.0331 -49.0346 -94.5186 -73.1338 -94.5186 167.0043
share holder equity 10.55141 1493.559 -85.8509 -93.6268 2.727399 1427.414 3.532092 -91.9399 1303.809 -91.9399 387.8234
TOTAL LIABILITY AND EQUITY 3.954965 49.10722 9.073862 -92.4647 151.4979 427.6763 -80.2595 -32.6148 42.89024 -32.6148 44.62467
50
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Balance sheet interpretation.

The values of current asset is either greater then average industry or equal to average
industry the maximum worth of current asset in 2012.
Which means high liquidity value ability to pay current liability obligations.

PROFIT AND LOSS STATEMENT 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
NET SALES 100 100 100 100 100 100 100 100 100 100 100
cost of sales 83.14354 81.7287 82.13401 81.86254 84.61507 84.93187 85.7618 89.21597 86.58704 84.14251 84.4123
gross profit 16.85646 18.27125 17.86594 18.13741 15.38487 15.06806 14.2382 10.78396 13.4129 10.39668 15.04157
selling and admin expensess 9.358709 9.368194 8.76159 8.241721 7.485377 8.113214 8.005968 9.264284 7.720306 9.433733 8.57531
operating income 7.497699 8.903059 9.104351 9.895687 7.899489 6.954847 6.232233 1.51968 5.692598 0.962947 6.466259
profit before extraordinaary 7.783283 9.688282 9.97163 10.59824 8.56004 7.349112 6.44685 1.069412 6.354941 0.996445 6.881824
proift beefore ttaxes 7.624517 9.672143 9.803495 10.70206 8.348273 7.27683 5.418412 0.805428 5.746161 0.799307 6.619662
NET INCOME 4.80538 5.951114 6.228444 6.776015 5.83098 6.517941 3.645171 -1.88516 3.949485 0.734761 4.255413
HORIZONTAL ANALYSIS OF INCCOME STATEMENT:

PROFIT ANND LOSSS STATEMMENT 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
NET SALES 1.360636 2.528676 6.734444 6.358466 18.25004 -1.09287 -0.64322 -25.9828 68.34808 18.25004 9.411151
cost of sales 3.115339 2.022724 7.088394 2.898613 17.80896 -2.05001 -4.49001 -23.7355 73.23898 17.80896 9.370647
gross profit -6.488 4.854667 5.136924 25.3873 20.73624 4.67184 31.18198 -40.4902 117.1882 20.73624 18.29152
selling and admin expensess 1.258018 9.627192 13.46701 17.10523 9.099312 0.23207 -14.1383 -11.1801 37.77141 9.099312 7.234114
operating income -14.6393 0.261818 -1.80087 33.23521 34.31136 10.3752 307.4639 -80.2406 895.2134 34.31136 121.8492
profit before extraordinaary -18.5698 -0.38472 0.423856 31.68312 37.73435 12.74957 498.963 -87.5444 973.6593 37.73435 148.6449
proift beefore ttaxes -20.0978 1.154946 -2.22714 36.34607 35.66121 32.83051 568.4096 -89.6251 1110.242 35.66121 170.8355
NET INCOME -18.1538 -2.03656 -1.89078 23.59613 5.787017 76.85614 -292.118 -135.33 804.9042 5.787017 46.74019 s
Income statement interpretation .

The gross profit of this company have greater value as compare to industry average or
equal to industry average .the maximum gross profit is obtained in 2016 which is
18.27as compare to industry average and the value of industry average is 15.04
51
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COMPANY #13:Al GHAZI MOTORS
VERTICAL ANALYSIS OF BALANCE SHEET

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
Fixed Assests 12.15256 13.99338 9.55878 47.20894 4.115766 3.943716 4.363193 4.809074 3.42374 3.322773 10.68919
Long Term Investments 0 0 0 4.328952 0.455913 0.589212 0.864936 0.521774 0 0 0.676079
Long Term Loans & Deposits 0.079234 0.125271 0.045482 0.215537 0.094979 0.224154 0.379263 0.011244 0.043695 0.148236 0.13671
Stores, Spares And Loose Tools 0.632833 0.40331 0.536172 3.637331 0.159254 0.223003 0.22237 0.127169 0.1584 0.20707 0.630691
Stock-In-Trade 38.83381 30.3357 33.02333 218.5058 17.23157 16.29467 31.92543 13.99818 16.98602 27.25651 44.4391
Trade Debts 0.204427 6.023686 0.433418 1.395379 1.692435 4.081801 0.167599 3.44453 0.274934 0.100804 1.781901
Loans And Advances 3.429292 2.024884 0.968794 7.969722 0.746894 0.801391 0.552262 0.288398 0.433728 0.527702 1.774306
Short Term Deposits And Prepayments 0.201842 0.131752 0.1065 3.25875 0.014756 0.014213 0.05379 0.149697 0.17241 0.232049 0.433576
Accrued mark up 0.016102 0.092737 0.95421 3.437471 0.035873 2.030689 2.501336 0.715926 1.738067 2.315055 1.383747
Other Receivables 0.203559 0.879548 0.599735 0.621933 0.116594 0.145022 0.258815 0.756142 0.1458 0.138837 0.386598
Taxation 0.681393 0 1.105881 0 0.312107 1.197726 6.227702 4.427983 7.188547 1.591996 2.273334
Refunds due from the Government 20.7723 17.63743 15.89393 129.5726 17.3961 17.29483 10.85465 12.77742 19.74434 10.59205 27.25357
Investments 0 0 0.39034 193.1815 34.13503 13.21744 12.67539 17.36808 1.964591 6.304818 27.92372
Cash and Bank Balances 22.79265 28.35229 36.38344 396.9597 23.49273 39.94213 28.95326 40.60438 47.72573 47.2621 71.24684
Total Assets 100 100 100 100 100 100 100 100 100 100 100
Share Capital And Reserves 4.927813 6.240338 4.525153 29.31358 2.18474 2.266902 2.509273 2.800387 2.908706 3.02966 6.070655
Reserves 31.21734 66.09473 85.8555 835.6166 81.45659 81.4298 76.57713 80.19718 70.52525 59.45645 146.8427
Non-Current Liabilities 1.449672 1.776796 1.046237 8.89104 0.70809 0.73266 0.840507 0.810628 0.722577 0.656632 1.763484
Curent Liabilties 62.40518 25.88814 8.573108 136.4724 15.65058 15.57064 20.07309 16.19181 25.84346 36.85727 36.35257
Total Equity And Liabilities 100 100 100 100 100 100 100 100 100 100 100

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
Fixed Assests 9.976196 6.156241 31.16373 15.40873 8.287436 0.049827 1.254235 45.89564 7.323361 -3.86889 12.16465
Long Term Investments 0 0 -100 -4.46429 -19.7133 -24.5946 85 0 0 0 -6.37721
Long Term Loans & Deposits -19.9037 99.72537 36.69639 -77.167 -56.0345 -34.5784 3664.269 -73.2713 -69.2974 685.0523 415.5491
Stores, Spares And Loose Tools 98.70269 -45.4543 -4.51032 129.8038 -25.9008 11.00657 95.14822 -16.6111 -20.323 40.51906 26.23808
Stock-In-Trade 62.10999 -33.3871 -2.09758 27.58602 9.726721 -43.5032 154.5279 -14.4024 -35.0894 172.5143 29.79853
Trade Debts -95.7024 907.8137 101.2105 -91.7044 -56.9777 2595.85 -94.5699 1201.316 184.0823 -70.5698 458.0749
Loans And Advances 114.4659 51.56331 -21.2549 7.361737 -3.29539 60.62562 113.7093 -30.9353 -14.3904 90.878 36.8728
Short Term Deposits And Prepayments 94.00229 -10.2917 -78.8293 2122 7.726597 -70.7518 -59.8989 -9.81532 -22.6114 1278.29 324.982
Accrued mark up -78.0125 -92.9525 79.8211 864.1418 -98.167 -10.1358 289.9187 -57.2158 -21.8013 -27.7325 84.78641
Other Receivables -70.6921 6.34714 524.6707 -46.3298 -16.5793 -37.9759 -61.8007 438.6767 9.381988 247.2644 99.29632
Taxation 0 -100 0 -100 -72.9617 -78.7115 56.96114 -36.0197 370.3197 0 3.9588
Refunds due from the Government 49.14312 -19.5309 -20.5391 -25.0578 4.368298 76.36622 -5.19245 -32.7825 94.15858 308.7272 42.96607
Investments 0 -100 -98.6911 -43.0583 167.9698 15.42535 -18.5521 818.251 -67.5441 -56.1484 61.76522
Cash and Bank Balances 1.802972 -43.492 -40.6265 70.01144 -38.9711 52.70343 -20.4217 -11.6306 5.180118 -23.6182 -4.90622
Total Assets 26.63503 -27.4854 -35.8808 1.65125 3.760733 10.69171 11.60155 3.867982 4.158349 3.789224 0.278956
Share Capital And Reserves 0 0 0 35.00014 0 0 0 0 0 0 3.500014
Reserves -40.1887 -44.1756 -33.4426 3.215743 3.794865 17.70622 6.56393 18.11257 23.54915 15.85439 -2.90101
Non-Current Liabilities 3.320407 23.14947 -23.7723 26.33659 0.281041 -3.51133 15.71511 16.5251 14.61884 22.88778 9.555076
Curent Liabilties 205.2626 118.9716 -59.3061 -12.2637 4.293485 -14.1368 38.3532 -34.9232 -26.9666 -11.1126 20.81719
Total Equity And Liabilities 26.63503 -27.4854 -35.8808 1.65125 3.760733 10.69171 11.60155 3.867982 4.158349 3.789224 0.278956

The value of total asset is vary through this 10 years duration some time increases or
sometimes decreases. This happen due to variation occur in current asset. On the other
hand the value of equity and lability is vary throughout this analysis of company.
52
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2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
Sales 100 100 100 100 100 100 100 100 100 100 100
Cost of goods sold 72.12859 72.32177 74.06134 74.16895 77.65894 81.11428 81.48077 80.25905 83.21698 84.39052 78.08012
Gross Profit 27.87141 27.67823 25.93866 25.83105 22.34106 18.88572 18.51923 19.74095 16.78302 15.60948 21.91988
Distribution Cost 1.276161 1.3397 1.16133 1.155525 1.351755 0.664668 0.815478 0.620011 0.555471 0.744825 0.968492
Other Income 0.76346 1.272264 4.981803 5.206815 4.343077 3.638416 5.541534 2.555163 2.607514 3.952236 3.486228
Other Operating Expenses 1.797657 1.749781 1.839778 1.900763 1.619206 1.441044 1.511573 1.439063 1.249979 1.234216 1.578306
Finance Cost 0.004923 0.008414 0.011415 0.015591 0.004275 0.011672 0.02111 0.008864 0.013663 0.027048 0.012698
Profit Before Taxation 24.29603 23.7835 24.82377 25.64648 2.194777 19.43762 20.39512 19.41689 16.86561 16.6498 19.35096
Taxation 7.746586 7.857298 8.299647 7.712303 7.036925 6.476267 6.958916 6.636574 5.805957 5.636052 7.016652

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
Sales 55.97749 25.55719 9.74211 -5.20307 -37.3282 46.13594 -32.2874 -5.25722 55.96578 11.30414 12.46068
Cost of goods sold 55.56085 22.60809 9.582879 -9.46324 -39.9979 45.47865 -31.2567 -8.62483 53.79692 14.83965 11.25244
Gross Profit 57.06613 33.97761 10.19931 9.605537 -25.8617 49.0279 -36.478 11.44075 67.69146 -4.57815 17.20909
Distribution Cost 48.57978 44.8417 10.29341 -18.9644 27.45763 19.11027 -10.94 5.750894 16.31512 12.12451 15.45688
Administrative Expenses -5.00847 -15.7668 45.92081 17.88184 20.6229 7.496717 9.961708 8.900872 21.52687 6.657348 11.81938
Other Income -6.401 -67.9349 4.999628 13.64984 -25.1903 -4.05123 46.85227 -7.15936 2.899469 -28.5173 -7.08529
Other Operating Expenses 60.24525 19.41529 6.22109 11.28076 -29.5798 39.31735 -28.8756 9.074532 57.95772 -12.0764 13.29802
Finance Cost -8.74263 -7.45455 -19.6494 245.7071 -77.0435 -19.2037 61.25378 -38.533 -21.2143 -9.22975 10.589
Profit Before Taxation 59.33877 20.29555 6.22171 1007.724 -92.9235 39.27521 -28.876 9.074617 57.98736 -12.0929 106.6025
Taxation 53.77971 18.86534 18.09971 3.895189 -31.9026 36.0004 -28.9986 8.296961 60.66756 -11.9558 12.67479
Profit After Taxation 62.08137 21.01392 1.113768 14.81994 -28.4053 40.97131 -28.8124 9.482861 56.61582 -12.1629 13.67184
Interpretation of income statement.

The gross profit of this company give different result in every year with respect to
average industry some time increase and reached to 27.67 in 2016 as compare to
industry average having value of 21.91.
53
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COMPANY #14 ATLAS BATTERY:

particulars 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
intangible asstes 0.017681 0.072815 0.11431 0.020969 0.322670844 0.484207 43.5741 36.74776 51.80022 45.02146 17.81761938
Long term deposits 0.2022 0.218415 0.146593 0.261236 0.290200303 0.259602 0.024848 0.034149 0.19887 0.348792 0.1984905
Long term loans 0.015704 0.017179 0.011736 0.023034 0.018063629 0.027321 0.029077 0.017834 0.049656 0.063029 0.027263397
Total non current assets 38.29686 40.16417 21.49982 26.90007 32.13516763 43.14322 43.62803 50.0103 51.99909 45.37025 39.31469747
stores spares and loose tools 2.312775 2.718655 1.178832 1.664447 1.589654297 1.656481 1.486687 1.480442 1.151471 1.127401 1.636684559
stoke in trade 20.57146 28.18073 17.11815 47.89298 40.61589 30.83493 34.4603 35.11348 35.43567 35.70266 32.59262326
Trade debts 4.39475 1.781633 1.402515 2.672145 2.196421752 4.27184 4.307513 6.631438 7.217773 6.727807 4.160383587
Loans and advances 0.063081 0.082925 0.295027 0.485734 0.096146893 0.10191 0.138609 0.155224 0.194141 0.128232 0.174103122
Deposites and prepayments 0.219724 0.096286 0.120886 0.120443 0.177227016 0.195233 0.232954 0.391561 0.5728 6.449955 0.857707102
Investments 29.70695 23.24564 9.775758 15.48575 19.5632671 16.57815 9.846025 1.732169 50.00069 2.509268 17.84436716
Taxation net 4.208229 2.923276 5.119112 4.450165 2.601354965 1.120217 1.273053 0.448631 0.569865 0.45955 2.317345243
Cash and bank balances 0.179253 0.67487 0.833337 0.114305 0.908817718 1.831158 4.515475 1.972932 2.355779 4.283742 1.766966715
Total Current Assets 61.70314 59.83583 35.93845 73.09993 67.86483237 56.85678 56.37197 49.9897 48.00091 54.62975 56.42912989
Total assets 100 100 100 100 100 100 100 100 100 100 100
Share capital and resevers 2.097064 2.594647 1.851414 3.266345 3.986590574 4.591365 4.839458 5.542558 5.701585 6.079168 4.055019383
Reserves 46.12991 42.1635 21.57348 27.73609 29.34995957 27.64349 23.76642 24.80283 23.03432 19.86514 28.6065139
Unappropriated profit 17.87903 19.03947 10.84555 13.76138 15.87080849 18.18603 17.13643 14.84491 14.60498 9.379303 15.15478876
surplus on revaluation of leasehold land 66.106 63.80806 34.27044 44.76382 49.20735863 50.42088 47.80895 45.1903 43.34088 35.32361 48.02403037
Non ccurrent llabilities 2.336759 2.891216 2.063031 3.262365 4.778090936 6.603507 8.352418 11.47905 14.17006 15.10846 7.104496258
Defferd taxations 3.072499 3.234101 2.215136 3.022624 4.029123958 4.982401 6.652242 7.348112 6.981803 5.374717 4.691275838
Trade and other payables 16.04043 17.79265 9.685485 147.5569 21.98307848 19.56372 17.1519 24.10631 26.64373 14.82722 31.53514348
sales tax paybles net 0.798701 0.269265 0.921961 1.038466 1.470604813 0.800464 0.187824 0.261305 0.311147 1.279367 0.733910569
Accurued mark up 0.055717 0.065493 0.089209 0.370359 0.305459532 0.296764 0.250977 0.082236 0.130704 0.613516 0.226043535
Shorts term memory 10.63935 10.97502 7.552185 30.45791 16.95536854 15.77708 20.89224 11.53269 8.44858 27.21151 16.04419299
Total current liability 27.52215 29.10243 18.24884 48.01744 40.71451136 36.43803 39.10885 35.98254 35.50726 44.19321 35.48352525
Total equity and liabilities 100 100 100 100 100 100 100 100 100 100 100

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
Property plant aand equipment 18.15682 33.97505 40.81654 22.56782 2.482136508 -10.3419 -36.9389 -32.9192 -48.9821 192.1995 18.10156167
intangiblee asset -69.957 -54.5471 861.7726 -90.4823 -7.902377776 -98.5945 62.96395 -12.4281 22.67631 -6.91611 60.65853903
Long term deposits 14.54223 6.314873 -0.99885 31.84273 54.49355972 1221.47 0 -78.8028 -39.2074 676.0155 188.5669865
Long term loans 13.10764 4.44243 -10.1059 86.75799 -8.623087622 18.84298 124.0741 -55.665 -16 168.5185 32.53495656
Total non current assets 17.97526 33.29968 41.00679 22.60118 2.940964057 25.07904 19.89471 18.72147 22.20057 -31.0717 17.26479531
stores spares and loose tools 5.255768 64.56114 24.95122 53.3519 32.62834335 40.9304 38.01365 58.70981 8.898828 -42.1407 28.51603441
stoke in trade -9.68092 17.4683 -36.9415 72.70213 82.04266226 13.17789 34.87736 22.32037 5.825087 -22.7475 17.90438521
Trade debts 205.1985 -9.35665 -7.40103 78.18293 -28.94069719 25.4371 -10.7285 13.4149 14.38743 -22.9182 25.72757094
Loans and advances -5.88024 -79.9437 7.157488 639.9199 30.38777032 -7.00416 22.7234 -1.30197 61.42373 -37.234 63.02481708
Deposites and prepayments 182.3447 -43.1652 77.07294 -0.4654 25.45737641 6.003714 -18.2355 -15.6157 -90.5312 1151.535 127.4400896
Investments 58.11872 69.67435 11.37219 15.9345 63.08931424 112.9672 681.2042 -95.7236 2024.602 10.0633 295.1302655
Other receivables -55.9615 -0.81903 -21.8021 176.5834 -41.32137263 203.1075 26.81992 -6.40369 -12.8571 22.60536 28.99512661
Taxation net 78.1132 -59.2525 102.9444 150.5522 220.9355178 11.29946 289.9882 -2.81872 32.21718 -22.1731 80.18058108
Cash and bank balances -67.1366 -42.2138 1186.221 -81.5792 -31.40835426 -48.7068 214.5469 3.381559 -41.3646 64.96702 115.6707179
Total Current Assets 27.58881 18.80293 -13.2637 57.75896 64.96154214 27.57238 54.98035 28.55726 -6.31527 -16.9701 24.36731764
Total assets 23.72761 -28.6449 76.42436 46.46094 38.20386872 26.48458 37.43391 23.44274 6.622439 -24.0224 22.6133228
Share capital and resevers 0 0 0 20.00028 19.99966896 20.0004 19.99976 19.99971 0 -16.6665 8.333334967
Reserves 35.36693 39.45746 37.22504 38.40749 46.73539519 47.1183 31.69108 32.92035 23.63239 -39.1478 29.34066395
Unappropriated profit 16.18648 25.26467 39.04263 26.99448 20.60943657 34.23175 58.64877 25.47063 66.0271 -51.9958 26.0480115
surplus on revaluation of leasehold land 28.18346 32.85597 35.06756 33.23518 34.87759036 33.39479 45.39782 28.71022 30.82213 -40.611 26.19336805
Non ccurrent llabilities 0 0 11.56595 0 0 0 0 0 0 0 1.156594893
Defferd taxations 17.54519 4.178575 29.29292 9.8741 11.76147587 -5.26548 24.41886 29.9193 38.50347 -44.4268 11.58016435
Trade and other payables 11.54292 31.08246 -88.4197 883.089 55.29490369 44.27025 -2.21425 11.68661 91.59489 -53.2679 98.46591505
sales tax paybles net 267.0045 -79.1603 56.63154 3.423198 153.9067692 439.0481 -1.21335 3.668763 -74.069 271.9919 104.1232112
Accurued mark up 5.259563 -47.6145 -57.5042 77.57876 42.25352113 49.55956 319.4378 -22.3331 -77.285 466.8273 75.61796817
Shorts term memory 19.94337 3.695036 -56.2547 163.0963 48.5254414 -4.48334 148.9708 68.50486 -66.8961 79.27009 40.43717159
Total current liability 17.0091 13.79397 -32.9506 72.73151 54.42391037 17.84669 49.37476 25.09507 -14.3337 -6.6854 19.63053476
Total equity and liabilities 23.72761 24.22924 1.335106 46.46094 38.20386872 26.48458 37.43391 23.44274 6.622439 -24.0224 20.39180824
54
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Interpretation of balance sheet.
Total current asset of this company have greater worth then average
industry which means high ability to pay liabilities except 2008 and 2009
.these years the worth of current asset is less then average industry
And the value of total asset is mostly equal to Industry average and in some
years below the average industry values.
STATEMENT VERTICAL ANALYSIS OF INCOME:

PROFIT AND LOSS STATEMENT 0
2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
sales 100 100 100 100 100 100 100 100 100 100 100
CGS -82.7345 -80.4025 -90.7916 -86.7549 -85.17779039 -83.8207 -85.3314 -85.3096 -83.2077 -85.2823 -84.88128789
gross profit 17.26551 19.5975 15.89225 13.24508 14.82220961 16.17934 14.66864 14.69039 16.79232 14.71774 15.78709889
distribution cost -3.53073 -3.12485 -3.00337 -2.38814 -2.650827922 -2.58229 0 0 0 0 -1.728020597
administration expencive -1.77887 -2.05385 -1.64758 -1.54993 -2.146879465 -2.09911 0 0 0 0 -1.127621911
other operating income 1.481435 0.681743 0.611747 0.89213 0.972483283 0.513155 0 0 0 0 0.515269352
other operating expences -1.01231 -1.26225 0.975824 -0.81566 -1.036392321 -1.48688 -5.08154 -5.71762 -6.76951 -6.89288 -2.909922574
profit from operation 12.42503 13.8383 10.87722 9.383479 9.960593182 10.52422 9.587104 8.972766 10.02281 7.824863 10.34163843
finance cost -0.39703 -0.51268 -0.98036 -1.02939 -0.675439211 -0.96848 -0.63903 -0.492 -1.37798 -1.58247 -0.865484196
profit before tax 12.028 13.32562 9.896867 8.354092 9.285153971 9.555742 8.948077 8.480767 8.64483 6.242392 9.476154233
taxation -3.42792 -4.26086 -3.11994 -2.30029 -2.717508755 2.821556 -2.90715 -2.95199 -3.01571 -2.1797 -2.405951102
profit after tax 8.600081 9.064705 6.776927 6.053802 -6.567645216 6.734186 6.040932 5.528774 5.629118 4.06269 5.192357097

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
sales 22.47155 -6.29556 22.20661 37.94436 -4.12286E+15 122884.8 45.81801 27.48353 20.08521 -16.7258 -4.12286E+14
CGS 26.02371 -17.018 27.89287 40.4985 -3.25171E+15 120707.5 45.85518 30.70393 17.16401 -14.6496 -3.25171E+14
gross profit 7.89813 15.55147 46.63089 23.26665 -4.9631E+13 135550.8 45.60217 11.52613 37.01215 -27.0138 -4.9631E+12
distribution cost 38.37928 -2.50564 53.68964 24.27443 -1.66971E+12 0 0 0 0 0 -1.66971E+11
administration expencive 6.074182 16.81089 29.90556 -0.41147 14876713600 0 0 0 0 0 1487671365
other operating income 166.132 4.426065 -16.2011 26.54648 -2.50247E+11 0 0 0 0 0 -25024715502
other operating expences -1.77892 -221.209 -246.203 8.564812 -78668920200 35885.92 29.59583 7.67431 17.93598 -15.2082 -7866888473
profit from operation 9.963914 19.21333 41.66051 29.9519 -3.04176E+13 134906.2 55.80172 14.12769 53.81624 -34.9874 -3.04176E+12
finance cost -5.15478 -50.9971 16.38564 110.2309 -8.32761E+11 186289.3 89.39394 -54.4828 4.567308 -4.36782 -83276041111
profit before tax 10.54558 26.16817 44.77487 24.11209 -2.03224E+13 131236.7 53.85292 25.06413 66.30104 -39.8681 -2.03224E+12
taxation -1.46982 27.97079 65.75183 16.76576 -1.13875E+12 -119464 43.60269 24.78992 66.14311 -39.8109 -1.13875E+11
profit after tax 16.1941 25.3375 36.80416 -227.152 -9.81309E+13 136998.4 59.32584 25.21103 66.38577 -39.8987 -9.81309E+12
55
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The gross profit of this company Is near by near match with average industry. The
average industry value is 15.78.similai the net profit value after tax greater value in each
year then average industry except 2008 and 2013.
COMPANY #15 NISSAN MOTORS:

current Assets 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 average
caash on hand 3.692286 50.04248 29.46074 4.464914 5.596412 5.394829 6.913108 7.855351 0.477596 6.179125 12.00768
trade notes and accoount 5.475791 60.40464 38.81162 52.14315 5.345388 5.561543 7.406106 6.276704 0.57649 4.190403 18.61918
sales finance 28.68217 283.8512 310.2284 37.03508 34.23397 32.50191 28.995 25.9021 2.709021 26.46849 81.06074
security 0.227822 2.162649 1.510496 0.244936 0.091611 0.840684 0.699744 0.49576 0.02064 1.239978 0.753432
merchandise and finance 6.067565 58.0534 457.3551 5.00985 5.234679 5.555584 6.008479 5.290421 0.361273 2.095436 55.10318
work in progres 0.636185 4.865895 1.778077 0.532751 0.641933 0.814195 1.383917 1.245152 0.269028 1.096348 1.326348
raw materials and supplies 2.591926 22.52234 14.86759 2.142622 19.57301 2.41668 1.810649 1.318486 0.475244 8.588784 7.630734
deffered tax assets 2.620332 26.26685 18.47282 1.331078 1.430927 1.906519 2.407322 2.242751 0.250686 2.21217 5.914145
other 4.328237 48.44842 37.30526 0.499646 4.421718 4.752674 4.578618 4.899098 0.462382 4.809396 11.45055
allowance for doubtful accounts -0.77472 -7.01275 -5.69266 -0.44072 -0.40097 -0.41621 -0.50244 -0.8953 -0.06693 -0.96121 -1.71639
TOTAL CURRENT ASSETS 52.35105 552.3759 44.7481 60.5277 585.5296 59.32841 59.70051 54.63053 5.27177 51.55878 152.6022
building plant annd equipment 5.750258 62.23538 51.1371 0.388351 4.183569 5.012936 5.562844 6.65532 0.593953 6.53294 14.80527
machinery,equipment 21.98268 220.9546 158.0644 18.31333 18.08273 18.17009 16.928 19.3933 2.108832 20.99404 51.4992
land 5.915487 63.21908 50.09131 3.777736 4.372675 5.034342 5.866202 6.60833 0.603351 6.725927 15.22144
coonstruction 1.232273 13.50693 10.20726 1.555346 2.296305 2.446223 2.306103 1.231466 0.128908 1.436842 3.634765
otherr neet 4.444459 46.09867 40.37168 3.364927 3.42484 3.405562 3.036528 3.881498 0.439957 4.449233 11.29174
total property plant & equ 34.0691 30.41672 25.69876 30.8949 323.5988 34.06915 33.69968 37.76992 3.875009 40.13898 59.4231
inengible fixed assets 1.494194 16.35708 12.94013 0 0.627977 0.950382 1.084839 1.408845 0.156075 1.633062 3.665258
investment 3.114058 39.68198 25.38891 5.800497 6.327059 3.505319 3.353118 2.63103 0.378717 2.935454 9.311614
longg term loans 0.212236 2.154927 1.71863 0.08547 0.092013 0.102388 0.050731 0.10891 0.020566 0.225059 0.477093
net defindd 1.090451 10.75383 7.961177 0.059124 0.04939 0 0 0 0 0 1.991398
deffeered tax 1.269895 8.286221 6.261966 0.825248 0.798706 0.805924 0.834335 1.30855 0.079082 1.10669 2.157662
other 2.26737 23.34473 17.80951 1.149425 1.209142 1.259616 1.306036 2.189916 0.222798 2.46057 5.321911
allowancce for dooubtful account -0.03557 -0.42063 -0.30537 -0.01383 -0.17379 -0.02119 -0.02924 -0.0477 -0.04015 -0.0586 -0.11461
totall investmet and other assets 3.602754 37.45869 31.88481 7.905937 8.458947 5.652053 5.514975 61.9078 0.697149 6.669177 16.97523
TOTAL FIXED ASSETS 47.64734 495.4232 390.8496 39.4723 41.44704 40.67159 40.29949 45.36947 4.728224 48.44122 119.4349
TOAL ASSETS 100 100 100 100 100 100 100 100 100 100 100
Current liabilities 44.95425 460.0877 381.6733 30.4315 35.27924 35.61253 37.43866 37.75747 4.390989 38.95384 110.6579
total long Term liabilities 21.36632 249.186 190.2196 284.2147 32.94901 32.57225 31.40184 32.72556 2.384879 32.47014 90.94903
total liabilities 68.73949 748.1657 597.6547 58.85296 748.3429 68.18478 68.84049 70.48303 6.775867 71.42398 250.7464
shareholder equity & liabilities 100 100 100 100 100 100 100 100 100 100 100
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current Assets 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 average
caash on hand -19.694 35.68612 -44.7816 -7.50903 19.11447 -9.74703 -4.60949 40.71814 -9.87634 -9.74703 -1.04458
trade notes and accoount -1.33387 24.32222 -93.771 1030.873 10.36122 -13.1515 27.89564 -6.84963 60.41372 -13.1515 102.5609
sales finance 9.979802 -26.9114 -29.8994 25.41574 20.94303 29.64117 21.33486 -18.1973 19.34067 29.64117 8.128827
security 14.65731 14.36859 -48.3917 209.9555 -87.4873 38.94755 52.99066 105.4985 -80.5912 38.94755 25.88954
merchandise and finance 13.75705 -89.8606 663.9804 10.95084 8.19143 6.935613 23.10388 25.28504 101.0328 6.935613 77.03121
work in progres 42.30242 118.6012 -72.0695 -3.78764 -9.46969 -31.9583 20.47174 -60.4024 186.1243 -31.9583 15.7854
raw materials and supplies 25.25659 21.00771 -41.9304 -87.3094 829.9745 54.36262 48.85247 -76.2642 -35.4806 54.36262 79.28319
deffered tax assets 8.577509 13.58344 16.14035 7.840491 -13.8195 -8.40662 16.34576 -23.4586 32.1346 -8.40662 4.05308
other -2.76491 3.740834 524.8286 -86.9001 6.8281 20.04963 1.30147 -9.35168 12.10271 20.04963 48.98842
allowance for doubtful accounts 20.24052 -1.59596 8.094617 27.42384 10.61993 -4.19558 -39.1709 14.44643 -18.8106 -4.19558 1.285665
TOTAL CURRENT ASSETS 3.153081 886.0532 -93.8131 -88.016 1033.232 14.93224 18.45137 -11.3408 19.22274 14.93224 179.6807
building plant annd equipment 0.563765 -2.78314 1001.958 -89.2385 -4.17314 4.220346 -9.4006 -4.13453 6.010378 4.220346 90.72427
machinery,equipment 8.285215 11.66299 -27.7696 17.40842 14.27186 24.13912 -5.3869 -21.3217 17.12547 24.13912 6.2554
land 1.843636 0.815204 10.96453 0.156782 -0.26743 -0.74718 -3.78058 -6.29413 4.597911 -0.74718 0.654157
coonstruction -0.70171 5.703101 -45.0794 -21.4776 7.786926 22.68019 102.9803 -18.2686 4.610334 22.68019 8.091374
otherr neet 4.935407 -8.78805 0.40483 13.902 15.47394 29.70857 -15.204 -24.5196 15.30024 29.70857 6.092193
total property plant & equ 1119.102 -5.45461 -93.0389 -88.9318 990.6316 16.92108 -3.28872 -16.6092 12.56713 16.92108 194.8819
inengible fixed assets -0.57569 0.973514 #DIV/0! -100 -24.1286 1.318747 -16.5359 -22.7722 11.43896 1.318747 #DIV/0!
investment -14.5868 24.85028 -63.3704 6.281892 107.2559 20.90266 38.14031 -40.5632 50.43367 20.90266 15.0247
longg term loans 7.19609 0.15908 68.2751 7.68719 3.188163 133.4164 -49.5101 -54.6935 6.552397 133.4164 25.56872
net defindd 10.36576 7.901202 1026.86 38.7772 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
deffeered tax 66.80258 5.702707 -36.4992 19.78252 13.79554 11.71491 -30.8889 41.56535 -16.6784 11.71491 8.7012
other 5.712213 4.707341 29.66564 10.20446 10.22282 11.54248 -35.3565 -15.9066 5.579656 11.54248 3.791402
allowancce for dooubtful account -7.94909 10.03214 84.8112 -90.776 841.5254 -16.1828 -33.5386 -89.8358 698.8833 -16.1828 138.0787
totall investmet and other assets 4.682371 -6.15546 -66.2492 8.351015 71.84724 18.5277 -90.344 659.7398 21.88732 18.5277 64.08144
TOTAL FIXED ASSETS 4.677625 1.252769 -17.1351 10.40656 17.01321 16.72094 -3.72062 -17.9061 13.81206 16.72094 4.184223
TOAL ASSETS 988.4075 -20.1196 -91.6314 15.93003 14.82396 15.65308 8.392052 -14.445 16.60174 15.65308 94.92655
Current liabilities 6.346126 -3.70825 4.959527 0 13.74935 10.01192 7.476811 -26.4326 31.43691 10.01192 5.385175
total long Term liabilities -6.67511 4.642644 -94.399 900.0001 16.15212 19.96371 4.00768 17.39938 -14.3579 19.96371 86.66973
total liabilities 0 -0.00282 -15.0163 -90.8828 1160.218 14.55147 5.866079 -11.0052 10.61808 14.55147 108.8898
shareholder equity & liabilities 988.4075 -20.1196 -91.6314 15.93003 14.82396 15.65308 8.392052 -91.4445 1066.018 15.65308 192.1682

The worth of current asset in the balance sheet is below then average industry similarly
the worth of total assets is same as current asset the values are less then average
industry.

PROFIT & LOSS ACCOUNT 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 average
sales 100 100 100 100 100 100 100 100 100 100 100
cost of sales 170.0572 32.14366 76.67882 81.24108 82.38537 83.3127 81.55733 81.76124 77.67196 76.67882 84.34882
GGROSS PROFIT 22.32804 15.62341 23.32022 18.75892 17.61463 16.6873 1.844264 18.23876 22.32804 23.32118 18.00648
selling general and admin 15.02194 17.25817 15.89955 13.57606 12.86038 11.25047 12.31636 14.09352 15.02194 15.89955 14.31979
operating income 7.306103 1.63476 7.421625 5.18286 4.754248 5.436834 6.126311 4.145238 7.306103 7.421625 5.673571
non operating expence 0.755961 0.451843 0.781405 1.033722 0.785326 0.625635 0.983188 1.769098 0.981658 0.781405 0.894924
ordinary income 7.080406 -2.04747 7.269857 6.103027 5.02922 5.496816 6.130267 2.763594 7.080406 7.269857 5.217599
incomebefore tax 7.085561 -2.59306 6.662143 6.043152 5.050102 5.365907 5.472882 1.883927 7.0948 6.662143 4.872755
taxation 1.724094 1.914571 1.190018 1.734685 1.097551 1.519808 1.506048 1.217728 2.427035 2.026654 1.635819
net income 4.455381 -2.77012 4.401704 4.022555 3.711264 3.556191 3.638637 0.563901 4.455381 4.401704 3.043659
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HORIZONTAL ANALYSISS OF INCOME STATEMENT:

The gross profit values as compare to average industry. The result is very in each year.
But according to expectations that mostly greater than average industry.
COMPANY # 16 BMW
VERTICAL ANALYSIS OF BALANNCE SHEET:

participant 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
intangible assets 4.326518 4.281715 1.182965 1.403821 3.946192 4.243735 0.956173 5.818827 5.580397 6.371001 3.811134
property plant & equipment 9.526083 10.31457 30.09697 26.60151 10.11065 9.466981 1.451074 0.723449 11.17069 12.48132 12.19433
leased product 20.04349 20.30794 230.6198 2691.444 18.54339 18.72493 7.783663 5.951729 19.31425 19.11637 305.1849
investment accounts 1.350412 1.296944 9.452039 10.00148 0.389541 0.244675 1.918608 0.912675 0.109807 0.070789 2.574697
other investment 0.297027 0.248586 1.010632 1.94284 0.415309 0.454512 0.125928 0.059198 0.318541 0.234839 0.510741
receivable from sale 41.50953 40.68152 15.18869 14.42618 24.48579 23.76346 1.495369 0.809829 21.95358 22.75133 20.70653
financial assets 5.182062 5.136083 19.40355 10.13179 1.627889 1.37893 1.764619 0.45098 1.788576 1.318022 4.818251
deferred tax 2.262179 2.512574 0 6.610395 1.516484 1.560411 1.055432 0 0.856696 0.809016 1.718319
other assets 3.54417 3.636438 7.308097 9.468384 0.60629 0.460184 1.495369 0.809829 0.652909 0.466308 2.844798
inventories 6.280531 6.430123 11.27176 11.44084 7.370216 7.808538 0.755801 0.342384 7.211681 8.257582 6.716946
trade receivable 1.498396 1.597802 2.035869 1.951725 1.927245 2.662259 0.154685 0.09017 2.280237 3.002348 1.720074
receivable from financing 41.50953 40.68152 15.18869 14.42618 15.61576 16.21499 1.495369 0.809829 15.70049 15.72637 17.73687
financial assets 5.182062 5.136083 27.22573 13.18525 3.495263 3.038994 1.547085 0.855568 3.270483 4.0698 6.700632
other assets 3.54417 3.636438 7.308097 9.459499 2.764684 2.71006 2.285261 1.290604 1.822211 2.369743 3.719077
cash & cash equivelent 4.179595 3.555705 8.975932 11.12691 6.343312 6.299978 0.36503 0.286844 7.375898 2.688855 5.119806
Total assets 100 100 100 100 99.92421 100 100 100 100 100 99.99242
pension provission 2.43297 1.742423 3.636523 0.127351 3.004926 1.768628 0.005566 0.599302 1.89047 2.147263 1.735542
other provisions 5.790967 5.593179 21.34595 21.61706 2.662372 2.551264 1.533634 0.826295 20.19963 23.35921 10.54796
defferd tax 2.052139 2.065933 22.97874 12.85947 2.303903 2.651727 1.308911 1.177173 9.748135 -1.82141 5.532472
financial liabilities 51.83706 53.2502 5.444561 4.332889 29.62865 30.46043 0.118739 0.325134 -0.1009 0.484286 17.5781
other liabilities 8.250457 7.995981 0.630915 0.844069 2.579765 2.358441 0.074676 0.248555 0.007914 0.01236 2.300313
trade payable 4.514812 4.514619 13.9736 14.26921 4.125805 5.476833 2.273202 0.881181 9.769899 11.01835 7.081751
Total equity & liabilities 100 100 100 100 100 100 100 100 100 100 100
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VERTICAL ANALYSIS OFF INCOME STATEMENT:

participant 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERRAAGE
revenue 100 100 100 100 100 100 100 100 100 100 100
cost of sale -81.9518 -89.6222 -82.5738 -90.5778 -61.21 -53.8865 -78.9818 -72.2391 -48.4636 -61.5676 -72.1074
gross profit 18.04818 10.52205 17.42616 9.422228 10.0847 6.849592 17.49752 142.0402 16.88107 -17.7287 23.1043
sales and admin -9.14232 -10.9252 -8.82576 -9.8978 -5.7432 -2.47152 -7.25215 -7.20295 -6.19066 -4.36669 -7.20182
other operating income 1.266597 1.596586 0.93836 1.012872 0.824001 0.458665 -3.36501 -3.49536 -3.1487 -6.93432 -1.08463
other operating exp -1.74943 -1.58868 -1.49436 -1.1432 -1.39991 -0.77457 -5.11127 -4.65622 -5.06573 4.772802 -1.82106
profit and losa before tax 7.979893 0.571056 8.044406 -1.3444 11.59626 8.983952 -0.16912 -0.202 -0.15729 -0.19049 3.511226
income tax -2.64894 -0.40112 -2.24985 0.340673 -5.7113 -1.34056 1.454994 2.868905 4.457615 2.822938 -0.04066
net profit/ loss 0.534087 0.414954 0.480263 -1.00373 1.394599 0.698628 7.304502 8.466082 5.484242 6.889345 3.066298

The value of gross profit is in better condition or more value the industry average. This
gross profit is the part of sales subtracting from cost of sales. And the net profit after
taxation is also vary as compare to average industry.

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVEERAGE
intangible assets 10.6484 0.049603 -14.557 -90.8969 -0.59183 27.04341 -90.7404 689.3459 -0.51146 -0.59183 52.91979
property plant & equipment 1.13182 94.50624 14.71833 -32.6737 14.17202 86.75084 13.02384 -50.9741 1.656464 14.17202 15.64837
leased product 8.076648 41.97872 -91.3118 3614.1 5.867082 -31.1385 -26.3064 133.2719 14.7593 5.867082 367.5164
investment accounts 14.01702 -125.812 -4.1753 557.0039 70.19868 -96.3496 18.45647 6191.892 76.19048 70.19868 677.1621
other investment 30.84112 -44.9172 -47.2561 19.70803 -2.31729 3.314917 19.86755 40.68323 54.06699 -2.31729 7.1674
receivable from sale 11.73137 19.15888 6.75426 -84.9237 10.15308 354.8852 4.050347 -72.0755 9.600948 10.15308 26.9488
financial assets 10.48287 92.57599 94.18299 59.26443 26.20447 -77.6318 120.4868 90.87389 54.1347 26.20447 49.67789
deferred tax -1.41008 24.87843 -100 11.54423 3.894081 -57.6796 0 -100 20.27778 3.894081 0
other assets 6.724165 100 -21.7391 299.625 40.84507 -91.1911 4.050347 838.9394 59.03614 40.84507 127.7135
inventories 6.955108 60.03833 -0.10355 -60.2776 0.902677 195.7349 24.38931 -64.0604 -0.80283 0.902677 16.36786
trade receivable 2.689931 65.14317 5.766313 -74.0857 -22.6111 392.6537 -3.33333 -70.0651 -13.735 -22.6111 25.98118
receivable from financing 11.73137 74.66376 6.75426 -76.3601 2.952933 210.3908 4.050347 -60.9539 13.39668 2.952933 18.95791
financial assets 10.48287 92.57599 109.3666 -3.46921 22.95388 -43.7715 1.893997 98.03388 -8.72446 22.95388 30.22958
other assets 6.724165 -5.40541 -21.6656 -12.4452 9.058296 -66.0544 -0.22276 436.1564 -12.66 9.058296 34.25437
cash & cash equivelent 28.71611 60.03833 -18.206 -55.1135 7.638889 394.028 -28.2916 -70.5606 211.5754 7.638889 53.74639
Total assets 9.502596 49.80399 1.394936 -74.3914 6.822546 -71.3753 -43.6507 657.002 13.5836 6.822546 55.55148
pension provission 52.9 80.11546 2795.349 -98.9155 81.63078 8995.833 -99.4767 139.9791 0 81.63078 1202.905
other provisions 13.37487 58.5 0.123305 107.7711 11.55923 -52.3817 4.58643 -69.0337 -1.77979 11.55923 8.427899
defferd tax 8.771437 24.11215 81.18379 42.82895 -7.11885 -42.0092 -37.3446 -8.58535 -707.896 -7.11885 -65.3177
financial liabilities 6.596643 -121.17 27.40943 -96.2578 3.98436 7243.164 -79.4212 -2539.22 -123.666 3.98436 432.5409
other liabilities 12.98758 97.96691 -24.2105 -91.6275 16.93576 804.0373 -83.0705 23675 -27.2727 16.93576 2439.768
trade payable 9.507269 98.43103 -0.70569 -11.4989 -19.4675 -31.0345 45.36556 -31.7234 0.713849 -19.4675 4.012036
Total equity & liabilities -89.0498 38.45362 1.394936 -74.4108 6.903564 -71.3753 -43.6507 657.002 13.5836 6.903564 44.57547
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participant 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERRAAGE
revenue 19.50087 -6.51865 23.77849 -22.4961 -42.8624 1.138224 -4.75082 9.85057 -5.80859 -4.75082 -3.29192
cost of sale 9.273305 1.460752 12.84077 14.68936 -35.097 3.573917 4.13953 63.74174 -25.8562 4.13953 5.290565
gross profit 104.9765 -43.5552 128.925 -27.5874 -15.8758 7.732433 -88.2665 824.3012 -189.688 -88.2665 61.26955
sales and admin 0 15.71787 10.37191 33.56989 32.77345 -32.7226 -4.10011 27.81307 33.53529 -4.10011 11.28587
other operating income -5.19802 59.05512 14.67269 -4.73118 2.649007 -0.11966 -8.30285 21.94469 -57.2301 -8.30285 1.443686
other operating exp 31.59204 -0.61805 61.8 -36.7089 3.267974 2.521008 4.557935 0.970335 -199.972 4.557935 -12.8032
profit and losa before tax 1569.896 -93.3639 -840.646 -108.985 -26.2482 8.730159 -20.2532 41.07143 -22.2222 -20.2532 48.77255
income tax 689.1626 -83.3333 -917.45 -104.623 143.429 202.3063 -51.6934 -29.3006 48.73477 -51.6934 -15.4461
net profit/ loss 53.80952 -19.2308 -159.226 -155.781 14.05797 43.03565 -17.8194 69.57746 -25.0192 -17.8194 -21.4415

The total asset value worth is less then average industry through out ten years records
but in some year the value is improved. On the other hand the value of liabilities and
equity is increasing and decreasing in through out the performance e.
COMPANY #17 DEWAAN MOTORS:

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
prperty plant and equi 30.52516 33.18327 35.55323 39.21791 35.5537 374.606 39.35582 30.52516 33.18327 37.15961 68.88631
long term deposit 0 1.031084 1.031156 1.062666 0.970576 9.448114 0.930481 0 1.120875 0.689044 1.6284
stock in trade 1.803664 2.746895 2.551109 4.232659 15.1379 150.3964 16.60495 1.803664 2.746895 5.0346 20.30587
trade debit 1.321355 0.655741 0.63757 0.720399 18.91164 175.5856 1.680092 21.6563 20.85185 5.0346 24.70552
intangible asset 3.508936 3.969932 3.500259 3.837111 27.68458 28.49411 3.41555 3.537307 3.383847 1.546971 8.287861
TOTAL asset 100 100 100 100 100 998.8672 100 100 100 100 189.8867
21800000[2016:21800000] ordinary share 42.55663 42.96185 34.37187 35.42221 29.73049 289.4126 28.04554 34.04531 34.36948 17.07964 58.79956
issued subscribed &paid up share capital 39.36071 31.14313 31.1453 32.09704 26.93961 262.2447 25.41284 30.84939 31.14313 13.16384 52.34997
Marrkup accured 0.128067 0.129287 0.129668 0.13363 0.112778 1.097838 0.106386 0.128067 0.129659 2.168773 0.426415
trade and others payable 65.4252 65.639 65.65362 66.20016 64.76784 635.0867 60.05796 65.4252 65.639 24.27413 117.8169
short term finance 56.11869 56.88638 61.34144 6.333757 57.32444 531.4934 52.15526 62.5227 63.91566 33.16523 98.1257
Total liabilites and equity 100 100 100 100 100 100 100 100 100 100 100
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c

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAAGE
prperty plant and equi -7.13448 -6.65945 -6.57413 -7.41812 -7.6099 -7.7615 56.51082 -7.13448 -46.7481 37.15961 -0.33697
long term deposit -100 0 0 -8.10466 0 -1.60249 0 -100 -2.99432 0.689044 -21.2012
stock in trade -33.7129 7.68203 -37.8862 -76.5321 -2.01862 -12.23 1017.572 -33.7129 -67.464 5.0346 76.67317
trade debit 103.4243 2.857271 -8.79328 -96.8028 4.846876 912.7506 -90.5824 4.846876 146.9828 5.0346 98.45648
intangible asset -10.7706 13.42613 -5.99123 -88.367 845.7976 -19.1573 17.21447 5.530445 30.44141 1.546971 78.96709
TOTAL asset 0.952178 0.00696 3.055815 -16.0682 -2.54421 -3.20472 21.39294 0.952178 -40.3669 100 6.417595
21800000[2016:21800000] ordinary share 0 25 0 0 0 0 0 0 20 17.07964 6.207964
issued subscribed &paid up share capital 27.58994 0 0 0 0 0 0 0 41.08037 13.16384 8.183415
Marrkup accured 0 -0.28717 0 -0.54921 0 0 0.841825 -0.28717 -96.4349 2.168773 -9.45478
trade and others payable 0.623362 -0.01531 2.20501 -14.2121 -0.72457 2.472864 11.4343 0.623362 61.25207 24.27413 8.79331
short term finance -0.41019 -7.25627 898.0794 -90.7264 4.99227 -1.24794 1.263711 -1.24794 14.92415 33.16523 85.1536
Total liabilites and equity 0.952178 0.00696 3.055815 -16.0682 873.4539 -90.3095 21.39294 0.952178 -40.3669 100 85.30693

The value of total asset when compare with average industry the worth is less than
average industry. The value is vary as compare to average industry but also in
decreasing value. And same condition is on the liability and equity sides.
.

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAAGE
net sales 100 100 100 100 100 100 100 100 100 100 100
cost of sales 2.791999 7.848454 3.450916 10.55723 5.521094 2.115549 27.11833 1712.7 3020.834 3214.946 800.7885
gross lose/profit 1.792002 6.816143 2.450926 0.557237 5.125558 20.90792 17.11834 2620.332 2933.397 2829.908 843.8405
distribution expence 0.227918 2.045958 0.990426 0.670241 1.289173 0.522249 4.114448 -907.632 -87.4372 385.0385 -60.017
administration expence 0.34858 1.781064 0.674464 0.063195 1.292851 0.564822 6.356157 215.9146 132.2349 92.42192 45.16526
operating loss/profitt -582.132 -10.6432 -4.11582 -1.86223 -8.00315 -3.16907 -27.5889 256.2314 115.0376 87.8102 -17.8435
other income 2.223831 8.926643 2.150806 1.032064 0.399905 1.587498 0.112652 -1381.96 -159.835 204.8063 -132.055
finance cost 0.001656 0.007142 0.002622 0.184702 0.06739 0.004833 41.96888 12.98757 96.11567 11.38245 16.27229
provision for absolvvence 0 0.521239 0.124018 0 5.959554 0.930727 0 116.2974 180.9317 1696.887 200.1652
loss/ proffit before taxation 0.146325 2.244903 2.09165 1.066185 10.40205 2.517135 69.44518 -1661.07 47.7299 0 -152.543
taxation 0.009998 0 0 0.103559 0 -0.07898 -0.51949 -132.026 -331.052 44.14615 -41.9417
loss/prooffit after taxation 0.156323 2.244903 0.245322 0.156347 1.042373 0.236293 0.892035 1529.022 228.4392 16.99081 177.9426

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAAGE
net sales 340.6246 -64.5852 -45.1128 224.0681 -66.4769 414.9706 1840.197 -48.0164 -22.2944 224.0681 279.7443
cost of sales 56.74724 -19.4557 -82.0586 519.6709 -12.5125 -59.8262 -69.2796 -70.5272 -26.9861 519.6709 75.54432
gross lose/profit 15.84265 -1.50965 141.4134 -64.7682 -91.7818 528.9724 -87.3249 -53.5643 -19.4527 -64.7682 30.30587
distribution expence -50.9148 -26.8423 -18.8923 68.483 -17.2481 -34.6346 -108.795 439.6097 -117.646 68.483 20.16024
administration expence -13.7634 -6.47961 485.7922 -84.1593 -23.2672 -54.2386 -42.8839 -15.1205 11.17922 -84.1593 17.28994
operating loss/profitt 24000.01 -8.41965 21.3092 -24.5935 -15.3411 -40.8466 -308.905 15.78686 1.799892 -24.5935 2361.621
other income 9.769658 46.98475 14.38405 736.3472 -91.5552 7156.97 -100.158 349.4571 -160.643 736.3472 869.7904
finance cost 2.189781 -3.52113 -99.2209 788.2066 367.426 -99.9407 6169.679 -92.9757 556.1619 788.2066 837.6211
provision for absolvvence -100 48.84621 0 -100 114.6522 #VALUE! #VALUE! -66.5865 -91.7146 -100 #VALUE!
loss/ proffit before taxation -71.2796 -61.9903 7.67805 -66.7838 38.53401 -81.3342 -181.115 -1909.11 #DIV/0! -66.7838 #DIV/0!
taxation #DIV/0! #DIV/0! -100 #DIV/0! -100 -21.7069 -92.3658 -79.2685 -682.715 #DIV/0! #DIV/0!
loss/prooffit after taxation -69.3172 224.0762 -13.8774 -51.3926 47.8824 36.41159 -98.8681 247.9443 944.7423 -51.3926 121.6209
61
c
Interpretation of income statement .

The value of gross profit in profit and loss statement is less then average industry. The
value in each is in decreasing value.
On the other hand when the net profit after taxation compare with average industry the
values of net profit is below then average industry.
COMPANY # 18: THAL engineering:
Vertical analysis of balance sheet :

assets 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
property plant and equiPPMEENT 4.346361587 4.165461 6.238363 7.142266 58.37625 5.501314 5.887308 5.819756 9.212931 8.985809 11.56758
investments properties 24.76144562 30.90871 34.83087 39.03458 0.009836 7.183872 56.9672 0.012627 0.01818 0.019041 19.37464
long term investment 12.78045755 12.94334 10.34742 8.224711 33.55929 1.500105 1.955877 41.62187 35.89824 35.80995 19.46413
long term loans 0.039749569 0.06677 0.057283 0.054 0.099935 0.39012 0.397751 0.064738 0.071625 0.095948 0.133792
long termpre payments 0.08139094 0.225404 0.271522 0.341385 0.072056 1.183816 4.067938 0 0.06151 0.127765 0.643279
storespares and loose 0.390315516 0.402939 0.441775 0.450383 0.768068 4.045169 5.551674 0.768936 1.107415 1.24319 1.516986
stock in trade 10.82390992 12.56468 12.34509 17.78591 23.41297 17.78504 10.73392 25.59678 31.90388 35.70858 19.86608
trade debts 3.960354173 4.664191 5.87559 4.952423 9.604572 10.93542 7.405788 10.47023 6.128217 11.51132 7.55081
loans and advanvced 0.257538428 0.23697 0.736019 0.737684 1.20338 19.61428 136.2583 1.13774 1.874493 3.682475 16.57389
trade deposits and sho0rt term 0.322159963 0.235093 0 0 0 13.22419 11.78658 0 0 0.01015 2.557817
other rweceviable 0.021497105 0 0 0 0 0.095866 0.043857 0 0 0.013309 0.017453
short term investments 38.01754877 24.8883 24.52842 16.39449 17.20051 15.70236 11.40795 8.513712 11.07176 0.881952 16.8607
income tax 0.120796874 1.319128 0.151515 0.438561 1.047229 0.411028 0.216852 0.133493 0.296767 0.562539 0.469791
cash and bank 3.047137765 4.168704 48.07339 45.06581 60.21134 0.196339 10.33448 52.48101 54.73752 13.54369 29.18594
TOTAL ASSETS 100 100 100 100 100 100 100 100 100 100 100
TOTAL EQUITY 90.31783486 90.63064 89.34646 87.24478 89.77251 61.45539 61.38401 677.2751 74.9665 66.42295 138.8816
NON CURRREENT LIABILITIES 8.536369083 7.98522 9.150438 11.13701 13.82022 4.081059 2.13657 23.73862 19.54572 26.14122 12.62724
TOTAL EQUITY AND LIABILITY 100 100 100 100 100 100 100 100 100 100 100

assets 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
property plant and equiPPMEENT 28.31891106 -27.1506 -5.48151 -77.7959 1668.793 1.514219 -29.9165 -9.73706 6.482668 1.514219 155.6541
investments properties -1.480318288 -3.18341 -3.44006 720098.6 -99.7718 -86.3003 312454.6 -0.75188 -0.83877 -86.3003 103227.1
long term investment 21.43051077 36.47326 36.14248 -55.5224 3629.05 -16.6784 -96.7445 65.67274 4.11365 -16.6784 360.7259
long term loans -26.78880746 27.17106 14.79284 -1.9361 -57.2999 6.552397 325.6557 29.15076 -22.4709 6.552397 30.13794
long termpre payments -55.59392947 -9.42873 -13.9319 759.8148 -89.854 -68.3855 #DIV/0! -100 -50 -68.3855 0
storespares and loose 19.12542365 -0.48887 6.145343 6.418148 -68.3503 -20.8429 400.1928 -0.78378 -7.48523 -20.8429 31.30878
stock in trade 5.94016746 11.04279 -24.8896 37.86462 119.4365 80.00045 -70.9479 14.64219 -7.20827 80.00045 24.58814
trade debts 4.42044646 -13.392 28.38548 -6.42221 46.40288 60.41372 -50.9974 144.1319 -44.7099 60.41372 22.86467
loans and advanvced 33.65245631 -64.8733 7.969529 11.25016 -89.7733 -84.3618 8197.051 -13.2715 -47.1333 -84.3618 786.6148
trade deposits and sho0rt term 68.5235293 0 0 0 -100 21.88732 0 0 -100 21.88732 0
other rweceviable -98.8395366 0 0 0 -100 137.4656 0 0 -100 137.4656 0
short term investments 87.85237156 10.70289 61.90257 72.97751 82.59277 49.53219 -7.1691 9.876543 1203.797 49.53219 162.1597
income tax -88.7384881 849.8735 -62.6142 -23.9986 324.6956 105.9137 12.54031 -35.7246 -45.2099 105.9137 114.2651
cash and bank -10.10843769 -90.5392 15.43559 35.83197 51018.66 -97.9361 -86.3576 36.99971 319.7459 -97.9361 5104.38
TOTAL ASSETS 22.97812348 9.102138 8.213677 81.48181 66.68909 8.636858 -30.7206 42.89024 3.857602 8.636858 22.17658
TOTAL EQUITY 22.55366845 10.67027 10.82049 76.37181 143.4953 8.76319 -93.7209 1190.923 17.21612 8.76319 139.5856
NON CURRREENT LIABILITIES 31.46621551 -4.79094 -11.089 46.24687 464.481 107.5071 -93.7646 73.54273 -22.346 107.5071 69.87606
TOTAL EQUITY AND LIABILITY 22.97812348 9.102138 8.213677 81.48181 66.68909 8.636858 -30.7206 42.89024 3.857602 8.636858 22.17658
62
c

The value of asset is vary sometime increased or some time decreased as compare to
average industry. The average value of total assets is 22.176.

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
net sales 100 100 100 100 100 100 100 100 100 100 100
cost of sales -78.11181435 -78.2101 81.86604 85.16179 81.65878 82.38537 83.31831 78.20989 82.72484 82.99031 50.19935
gross profit 21.88818565 21.78994 18.13396 14.83821 18.34122 1.564338 16.56495 21.79411 3.64625 17.00969 15.55709
distriibution cosst -0.021249493 -0.02715 -0.02926 -0.03736 -0.03949 -0.03776 -0.57994 -0.03202 -0.05035 -1.75403 -0.26086
admiin expense -0.014578013 -0.02699 -0.0294 -0.03811 -0.03174 -0.02607 -0.09255 -0.04822 -0.10775 -2.31151 -0.27269
other operating income -0.018806959 -0.01875 -0.01617 -0.02538 -0.04235 -0.0493 -0.07151 -0.05469 -0.05123 2.921469 0.257328
profit and trraading activvities 35.1829196 18.83481 19.73759 17.49722 18.89381 21.12114 30.11458 20.20943 15.30553 0.153589 19.70506
operaatting profit 0.021194357 0.021048 0.018185 0.061233 0.061772 0.030651 0.07856 0.053017 0.078398 16.01921 1.644327
finnance cost 28.75582452 30.59686 27.17335 34.00453 39.49209 5.166573 6.956641 5.223492 9.083464 -0.70055 18.57523
other charges -0.000132327 -0.0003 -0.00018 -0.00039 -0.00068 -0.00015 -0.00054 -0.00049 -0.00084 -1.01457 -0.10183
profitt before taxation 30.3400531 23.35951 20.9388 15.51293 17.44266 49.30437 73.73059 18.02956 11.96517 14.30409 27.49277
taxation 0.189916658 0.211346 0.187772 0.284705 0.589602 0.368633 0.991002 0.586392 0.533052 4.586483 0.85289
profit after taaxation 18.82252995 20.89772 23.50473 38.95415 47.40733 30.64924 64.24984 51.82733 74.1158 9.717612 38.01463

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
net sales 7.809492232 -11.1718 32.61205 11.86892 21.78596 19.97409 -22.356 36.18627 9.96441 21.78596 12.84594
cost of sales 7.674062274 -184.861 27.47998 16.66789 20.71188 18.63071 -17.2845 28.7535 9.612666 20.71188 -5.19032
gross profit 8.295587471 6.736766 62.06685 -9.49705 1327.891 -88.6701 -40.9854 714.0028 -76.4277 1327.891 323.1304
distriibution cosst -15.63047285 -17.56 3.841829 5.831019 27.38757 -92.1888 1306.356 -13.3894 -96.8438 27.38757 113.5191
admiin expense -41.77493944 -18.4447 2.315325 34.30405 48.26198 -66.2008 49.02322 -39.0543 -94.8743 48.26198 -7.81824
other operating income 8.114104596 3.003591 -15.5034 -32.9449 4.605263 -17.2855 1.527462 45.38153 -101.928 4.605263 -10.0425
profit and trraading activvities 101.385281 -15.2348 49.59191 3.599791 8.943021 -15.855 15.69931 79.82048 10858.26 8.943021 1109.515
operaatting profit 8.556904829 2.816492 -60.6175 10.89272 145.4404 -53.1906 15.05196 -7.90367 -99.4618 145.4404 10.70253
finnance cost 1.322507811 0.019451 5.971574 -3.67564 830.9038 -10.8974 3.406249 -21.6854 -1525.82 830.9038 11.04507
other charges -52.94117647 50 -39.2857 -35.6322 443.75 -65.9574 -14.5455 -20.2899 -99.9095 443.75 60.89387
profitt before taxation 40.02632199 -0.90252 78.995 -0.50742 -56.9152 -19.7722 217.5197 105.2105 -8.01633 -56.9152 29.87228
taxation -3.12192378 -0.01968 -12.5381 -45.9811 94.78805 -55.3721 31.21827 49.81383 -87.2197 94.78805 6.635562
profit after taaxation -2.896252922 -21.0241 -19.9826 -8.07839 88.37489 -42.7685 -3.74544 -4.76833 738.6937 88.37489 81.21799

The value of gross profit is increasing or decreasing trend as compare to average
industry And the value of net profit after taxation is same as compare to average
industry.
63
c
Company #19 Volvo motor:

Assets 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
intengible assets 15.71620625 17.25704 18.3587 19.71643 21.16827 23.73607 36.89888 44.47885 41.6391 46.0083 28.49779
property plan 28.16873486 28.28661 26.74151 29.28525 0.395141 0.9424 0.088058 1.594999 1.042382 0.703578 11.72487
other long term securities 0.048942774 0.011336 0.011875 0.011416 0 0.045077 0 0.166511 0.181012 0.193326 0.06695
deffered tax 2.54750237 2.902877 2.315618 2.471546 4.982494 0.532477 0.452522 0.604697 0.970601 1.30574 1.908607
other non assets current 1.247111447 1.002139 10.63906 1.229494 0.881743 15.96867 6.33286 6.815261 10.32395 7.105505 6.154579
inventories 1.361724273 15.34648 13.12458 16.45718 3.26045 5.209258 3.615283 3.549311 3.445478 6.848794 7.221854
account reciviable 5.400432431 6.654474 7.311325 6.413462 3.230439 1.753793 7.964385 10.00526 9.712253 9.533166 6.797899
current tax assets 0.181521934 0.232019 0.324278 0.110734 0.047874 0.318359 0.753388 0.94064 1.033019 0.976135 0.491797
total current assets 49.15217486 48.36869 38.75167 43.80515 3.999285 5.617772 23.80021 17.7115 18.11373 19.34523 26.86654
total; assets 100 100 100 100 100 100 100 100 100 100 100
total equity 26.83179174 26.17577 29.87193 28.12653 5.642015 9.84237 12.93234 17.64139 18.11685 19.34206 19.45231
total non currrent liability 26.00719892 23.0303 29.33482 27.52149 2.297964 6.4348 10.77491 13.07841 13.65083 13.32678 16.54575
total equity and liability 100 100 100 100 100 100 100 100 100 100 100

Assets 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
intengible assets 11.0974862 13.61329 16.36848 -41.7013 75.81602 11.70036 -0.92605 14.12082 -8.09396 11.70036 10.36956
property plan 21.48124399 27.8497 14.11921 4538.879 -17.3393 1758.333 -93.4066 63.47305 50.45045 1758.333 812.2173
other long term securities 426.6666667 15.38462 30 #DIV/0! -100 #DIV/0! -100 -1.72414 -4.91803 #DIV/0! #DIV/0!
deffered tax 7.055454309 51.51874 17.09007 -68.9517 1744.709 104.3243 -10.628 -33.4405 -24.5146 104.3243 189.1487
other non assets current 51.80995475 -88.6151 981.4299 -12.7229 -89.1143 337.8525 10.973 -29.474 47.54683 337.8525 154.7538
inventories -89.17561312 41.32795 -0.33296 215.9325 23.39102 150.203 21.64609 10.05435 -48.9125 150.203 47.43367
account reciviable -0.999432141 10.0075 42.47063 24.26454 263.1325 -61.7629 -4.93431 10.05784 3.457447 -61.7629 22.39309
current tax assets -4.560260586 -13.5211 265.9794 44.77612 -70.354 -26.6234 -4.34783 -2.71903 7.467532 -26.6234 16.94741
total current assets 23.965625 50.86156 10.55718 585.5816 40.34604 -59.0134 60.48161 4.46244 -4.91481 -59.0134 65.33145
total; assets 21.98961585 20.86614 24.9746 -37.4084 97.14322 73.64366 19.42627 6.834779 1.549773 73.64366 30.26634
total equity 25.04691786 5.910953 32.72993 212.0314 13.00988 32.15434 -12.4524 4.031008 -4.88284 32.15434 33.97335
total non currrent liability 37.75801529 -5.10992 33.20889 649.6269 -29.5972 3.700341 -1.60822 2.354824 4.019025 3.700341 69.8053
total equity and liability 21.98961585 20.86614 24.9746 -37.4084 97.14322 73.64366 19.42627 6.834779 1.549773 73.64366 30.26634
Interpretation of balance sheet .

The value of current asset and total assets is below then average industry except 2008
The values is less than average industry through out 10 years.

Sales 100 100 100 100 100 100 100 100 100 100 100
Cost of goods sold 72.12859342 72.32177 74.06134 74.16895 77.65894 81.11428 81.48077 80.25905 83.21698 84.39052 78.08012
Gross Profit 27.87140658 27.67823 25.93866 25.83105 22.34106 18.88572 18.51923 19.74095 16.78302 15.60948 21.91988
Distribution Cost 1.276160685 1.3397 1.16133 1.155525 1.351755 0.664668 0.815478 0.620011 0.555471 0.744825 0.968492
Other Income 0.763460228 1.272264 4.981803 5.206815 4.343077 3.638416 5.541534 2.555163 2.607514 3.952236 3.486228
Other Operating Expenses 1.797657498 1.749781 1.839778 1.900763 1.619206 1.441044 1.511573 1.439063 1.249979 1.234216 1.578306
Finance Cost 0.004922781 0.008414 0.011415 0.015591 0.004275 0.011672 0.02111 0.008864 0.013663 0.027048 0.012698
Profit Before Taxation 24.29603176 23.7835 24.82377 25.64648 2.194777 19.43762 20.39512 19.41689 16.86561 16.6498 19.35096
Taxation 7.746586271 7.857298 8.299647 7.712303 7.036925 6.476267 6.958916 6.636574 5.805957 5.636052 7.016652
64
c

Sales 55.97748807 25.55719 9.74211 -5.20307 -37.3282 46.13594 -32.2874 -5.25722 55.96578 11.30414 12.46068
Cost of goods sold 55.56085328 22.60809 9.582879 -9.46324 -39.9979 45.47865 -31.2567 -8.62483 53.79692 14.83965 11.25244
Gross Profit 57.06613321 33.97761 10.19931 9.605537 -25.8617 49.0279 -36.478 11.44075 67.69146 -4.57815 17.20909
Distribution Cost 48.57978382 44.8417 10.29341 -18.9644 27.45763 19.11027 -10.94 5.750894 16.31512 12.12451 15.45688
Administrative Expenses -5.008468618 -15.7668 45.92081 17.88184 20.6229 7.496717 9.961708 8.900872 21.52687 6.657348 11.81938
Other Income -6.40100306 -67.9349 4.999628 13.64984 -25.1903 -4.05123 46.85227 -7.15936 2.899469 -28.5173 -7.08529
Other Operating Expenses 60.24524924 19.41529 6.22109 11.28076 -29.5798 39.31735 -28.8756 9.074532 57.95772 -12.0764 13.29802
Finance Cost -8.742632613 -7.45455 -19.6494 245.7071 -77.0435 -19.2037 61.25378 -38.533 -21.2143 -9.22975 10.589
Profit Before Taxation 59.33877203 20.29555 6.22171 1007.724 -92.9235 39.27521 -28.876 9.074617 57.98736 -12.0929 106.6025
Taxation 53.77971285 18.86534 18.09971 3.895189 -31.9026 36.0004 -28.9986 8.296961 60.66756 -11.9558 12.67479
Profit After Taxation 62.08137075 21.01392 1.113768 14.81994 -28.4053 40.97131 -28.8124 9.482861 56.61582 -12.1629 13.67184

The value of gross profit is greater value then average industry through out ten years
record. And on the other hand the value of net profit is greater value then average
industry .
COMPANY #20 TATA MOTORS:
VERTICAL ANALYSIS OF BALANCE Sheet:

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
property yplant and equipment 2229.296101 21.76936 24.30442 227.8618 442.9239 274.6622 1038.176 2850.646 6.768488 28694.5 3581.091
capital 487.1862126 3.721157 2.452252 37.17319 534.639 2.159028 221.7888 253.2642 9.754624 69.17808 162.1317
goodwill 3.514405335 0.245958 0.284419 3.073519 251.2355 493.9055 0.851484 1.962098 0 626.9735 138.2046
otherintengible 14.3140175 13.03219 15.55167 142.3833 1.914188 0 0.212609 0.354567 19.68883 0 20.74514
investment inequity 1.475132783 0.586661 1.408975 13.32646 232.4871 10.04269 222.6403 255.2263 4.724537 520.888 126.2806
other investments 0.230499117 0.252328 0.288249 3.228465 42.88153 211.3709 4.93016 6.342096 12.26839 44333.12 4461.491
finance receviables 4.671648159 3.928021 3.620391 40.33892 55.95498 167.2045 151.722 200.8422 0 15252.33 1588.061
loans and reciviables 0.14951237 0.275305 0.188619 2.085727 11.95495 0 30.90375 37.84668 3.786609 1437.499 152.469
other financial assets 1.37735415 1.063406 0.683351 2.719494 408.0175 22.95704 0.831236 0.72136 1.406041 3654.75 409.4527
deffered taxes 1.255075781 1.628226 1.488738 17.00381 37.4555 373.5344 2.452512 36.28365 13.64847 5145.364 563.0115
non current assets 0.271585518 0.355176 0.473836 3.978422 0.356461 0 214.0839 14.11566 4.130033 14554.24 1479.201
other non taxes 0.809188433 1.040115 0.864345 8.329302 35.12237 2.434154 0.681467 1.095488 0 114482.5 11453.29
TOTAL CURRENTASSETS 58.96404686 57.5825 58.85187 581.9378 9.315 0 2.439944 2.585157 0 57056 5782.768
inventries 12.71693531 12.81646 12.22416 121.9588 44.29242 175.6869 10.08654 24.09781 3.840229 20508.63 2092.635
other investments 4.425449655 5.494397 7.199584 59.10118 0.976736 1484.703 205.5216 307.3148 21.24552 43976.14 4607.212
trade investments 6.003702846 5.141672 0.505692 54.47387 47.05682 404.0949 428.1618 562.5411 101.2618 743.1698 235.2411
cash and cash equivalent 4.441444801 5.109237 6.421182 82.90289 1.226155 0.087115 24.41201 34.19782 9.062668 8627.23 879.509
bankbalance 6.004867776 8.069687 4.981186 44796.18 299.0066 0.564301 98.62415 111.7496 18.60153 34344.84 7968.862
financial receviables 2.535577809 2.487675 2.275922 20823.44 0.462375 7.273684 62.53295 52.76244 60.84192 59.70762 2107.432
loans and advanc 0.687990491 0.259521 0.418169 3.274361 0.051907 28.44293 185.5691 198.7099 0.29406 572.5534 99.02614
other financial assets 0.914173936 0.568371 0.312842 7.095611 0.130046 624.2523 60.67078 100 0 3735.813 452.9757
current taxes 0.063048039 0.341719 0.054934 0.890542 0.009518 111.4227 29.89342 30.23499 23.16393 8.861824 20.49367
other current assets 2.312466638 2.388999 2.180156 22.72582 0.405027 7.913044 114.0783 83.40922 14.61151 1.406202 25.14307
TOTAL ASSETS 100 100 100.0001 100 100 100 100 100 100 100 100
equity shares 0.204985349 0.248113 0.25424 2.703286 0.053274 39.90162 0.559627 3.451278 9.204804 3.665506 6.024673
other equity 28.59470173 20.96137 29.30034 229.3909 6.077857 226.6389 36.17359 153.0759 2.984433 0.746635 73.39446
equity attribute to others 28.79968707 21.20949 29.55458 232.0942 6.124851 1484.703 152.0285 248.605 0.477475 0.252302 220.3849
non controling interst 0.158460598 0.165539 0.162027 1.804556 0.03554 0.176773 0.146138 562.5411 6.653162 10.00237 58.18457
TOTAL EQUITY 28.95814767 21.37502 29.71661 233.8983 6.124538 32.81757 26.83862 3.854823 36.82943 5.062237 42.54753
NONCURRENT LIABILITIES 27.8189009 36.38655 30.21119 348.7244 6.108472 323.7535 29.62255 40.52075 101.2618 100.1254 104.4534
TOTAL EQUITY AND LIABILITY 100 100 100.0001 100 100.0023 100 100 100 100 100 100.0002
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2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
property yplant and equipment 12295.06425 -8.21308 19.64892 -99.0484 707.4035 -76.2508 -48.9821 36547.97 -99.9937 -76.2508 4916.134
capital 15746.87287 55.50109 -26.0002 -99.8714 123883.2 -99.1261 22.67631 2159.236 -96.2189 -99.1261 14144.71
goodwill 1629.489693 -11.3819 3.804905 -99.9774 154.6816 51970.15 -39.2074 0 -100 51970.15 10547.77
otherintengible 32.94456809 -14.1261 22.5217 37.59503 0 -100 -16 -98.433 #REF! -100 #REF!
investment inequity 204.3480427 -57.3318 18.59966 -99.894 11490.69 -95.9508 22.20057 4600.721 -99.7568 -95.9508 1588.768
other investments 10.56806995 -10.2944 0.153476 -99.8607 1.5747 3748.626 8.898828 -55.0175 -99.9926 3748.626 725.3282
finance receviables 43.95371394 11.18311 0.676098 -98.6664 67.55258 -1.07157 5.825087 0 -100 -1.07157 -7.1619
loans and reciviables -34.26611469 49.57133 1.443498 -99.6773 0 -100 14.38743 769.7123 -99.9294 -100 40.12418
other financial assets 56.77368161 59.46886 181.8711 -99.9877 8798.63 2379.21 61.42373 0 -99.9897 2379.21 1371.661
deffered taxes -6.699960066 12.0771 -1.78742 -99.1602 -49.7952 13572.28 -90.5312 131.3264 -99.9289 13572.28 2694.007
non current assets -7.447213337 -23.1867 33.60177 -79.3544 0 -100 2024.602 197.4034 -99.9924 -100 184.5627
other non taxes -5.833825017 23.31465 16.40553 -99.5613 7124.304 220.6455 -12.8571 0 -100 220.6455 738.7063
TOTAL CURRENTASSETS 23.94338401 0.26532 13.44328 15.56385 0 -100 32.21718 0 -100 -100 -21.4567
inventries 20.09946528 7.440899 12.43479 -94.9066 26.22647 1463.575 -41.3646 446.0328 -99.995 1463.575 320.3118
other investments -2.509116657 -21.7953 36.64896 11.93015 -99.6706 548.4907 -6.31527 1158.677 -99.987 548.4907 207.396
trade investments 41.33231028 941.931 -89.5866 -97.8586 -41.6958 -15.2778 6.622439 383.4004 -96.3463 -15.2778 101.7243
cash and cash equivalent 5.219150111 -18.4617 -13.1159 25.06986 6947.165 -99.6797 0 228.3527 -99.9718 -99.6797 687.4898
bankbalance -9.931411354 66.01389 -99.8753 177.1331 265195.9 -99.4864 23.63239 422.7517 -99.9855 -99.4864 26547.67
financial receviables 23.37007277 12.01003 -99.8774 83207.91 -68.1726 -89.5584 66.0271 -24.5394 -72.6759 -89.5584 8286.494
loans and advanc 220.8755014 -36.4023 43.25835 16.68986 -99.0863 -86.2409 30.82213 58700.58 -99.9862 -86.2409 5860.427
other financial assets 94.68102883 86.17735 -50.5427 0.92998 -99.8957 823.6388 -15.0087 0 -100 823.6388 156.3619
current taxes -77.66791025 537.4583 -30.8044 73.07002 -99.9572 234.5954 38.50347 13.57841 -29.909 234.5954 89.34624
other current assets 17.16179994 12.29205 7.612586 3.792028 -74.3728 -93.7732 91.59489 396.7264 178.6253 -93.7732 44.58858
TOTAL ASSETS 21.03935441 2.475549 1021.748 -98.1502 400.6802 -10.232 40.08607 -12.9842 -73.1853 -10.232 128.1246
equity shares 0 0.005889 5.498773 -6.13399 -99.3315 6300.499 -77.285 -67.374 -32.663 6300.499 1232.372
other equity 65.11725578 -26.6893 43.28199 -30.1842 -86.5731 462.4247 -66.8961 4363.168 7.183249 462.4247 519.3258
equity attribute to others 64.35550066 -26.4596 42.84191 -29.9034 -97.9345 776.6699 -14.3337 45206.15 -49.2537 776.6699 4664.88
non controling interst 15.86380387 4.696886 0.719023 -6.07379 0.660008 8.585762 -99.9636 7257.401 -82.164 8.585762 710.831
TOTAL EQUITY 63.97995661 -26.2898 42.51718 -29.3549 -6.56117 9.766015 875.3278 -90.8923 95.08588 9.766015 94.33447
NONCURRENT LIABILITIES -7.460823626 23.4223 -2.8192 5.603441 -90.5533 881.1007 2.409444 -65.1799 -72.8809 881.1007 155.4742
current liabilities 23.86064562 8.015073 7.702495 5.348707 -0.04866 -0.03113 -0.55807 -85.9522 -25.5774 -0.03113 -6.72716
TOTAL EQUITY AND LIABILITY 21.03935441 2.475549 1021.748 -98.1502 400.6918 -10.232 40.08607 -12.9842 -73.1853 -10.232 128.1257
Interpretation of balance sheet .

The values of assets either current asset or total asset is either decrease or either
increase as compare to average industry .
And same Case occur with liabilities and equity.

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
total revenue 100 100 100.0001 100 100.0001 99.99955 100 99.99871 100.0002 100.0003 99.9999
total expences 73.10210973 71.75559 71.64209 73.63174 69.55904 71.80835 132.5954 70.94279 72.56769 34.81452 74.24193
profit before taxes 26.89789027 28.24605 28.35799 26.86853 30.44108 28.1912 28.22941 24.22893 27.43252 14.13493 26.30285
profit before interst 6.479099932 6.675015 21.82179 20.49451 7.274153 6.255517 6.893192 4.826993 6.374559 2.592074 8.96869
profit for the year 20.41879034 21.58577 21.74738 20.28249 22.96559 21.68886 21.11328 23.90793 67.21609 25.96965 26.68958
HORIZONTAL AANALYSIS OF INCOME STATEMENT:

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 AVERAGE
total revenue 3.731166163 9.388462 14.12127 17.29537 30.04376 30.09957 30.03938 63.32972 -47.5944 30.09957 18.05539
total expences 5.677722524 9.561844 11.03743 24.16319 25.96958 -29.543 143.0465 59.67492 9.234842 -29.543 22.92801
profit before taxes -1.219830209 8.956755 20.44749 3.529781 40.42144 29.92406 51.50847 44.25811 1.706881 29.92406 22.94572
profit before interst 0.686611084 -66.5394 21.51199 230.4734 51.21897 18.06486 85.70047 23.67966 28.87863 18.06486 41.174
profit for the year -1.876777251 8.575644 22.36349 3.591707 37.69809 33.64693 14.83727 -41.9048 35.63927 33.64693 14.62178
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The value of gross profit is greater than average industry except some year there values
are below then average industry .
Ratio analysis of Automobiles Company
Millat motor company:

2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 1.18 1.26 0.77 1.26 1.07 1.01 1.13 1.23 1.13 0.59
LIQUIDITY RATIOS QUIICK RATIO 0.66 0.65 0.56 0.41 0.67 0.99 0.94 0.87 0.94 0.41
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
inventory turnover 10.2 9.99 10.63 10.24 11.1 10.32 10.22 10.31 10.31 10.2
fix asset turnover 1.23 1.21 1.33 1.21 1.231 1.32 1.1 1.1 1.22 1.21
total asset turnover 1.09 1.09 1 1.-2 1.02 0.99 0.98 0.87 0.99 0.87
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
LEVERRAGE RATIOS/SOLVENCY RATIOS debt ratiio
equity ratio 0.19 0.23 0.12 0.12 0.22 0.21 0.32 0.121 0.21 0.22
debt to equity ratiio 2.57 2.54 2.36 2.34 2.43 2.43 2.21 2.32 2.43 2.43
2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
PROFITABILITY RATIOS ROA 0.28 0.33 0.2 0.54 0.23 0.43 0.23 0.34 0.44 0.22
ROE -9.87 16.34 17.66 14.44 14.22 14.33 16.33 16.43 12.33 12.11
GROSS PROFIITT 11.25 15.13 13,34 13.23 12.33 12.4 14.3 12.43 12 11.34
PROFIT MARGIN 1.2 1.9 1.09 1.98 1.8 1 1.23 1.32 0.98 0,88
ROI 0.05 2.37 5.45 5.43 4.54 5.6 5.55 4.33 4.32 7.1
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
MARKKET BASED Priice to earning 1.1 1.5 -1.2 1.34 1.54 2.1 1.09 1,00 1.98 1,88
Liquidity ratios interpretation:

Liquidity ratios of Millat tractors improving from 2008 to
2017except 2015current ratios is almost greater then one except0.77 .Benchmark is 1 .On the other hand quick
ratio is less then one I means when inventory is substracted there is less current assets to meet current liability.
12
10
8
LIQUIDITY
6 RATIOS
4 inventory
2 turnover
0
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Leverage ratios and profitability ratios:

Debt ratios shows the assets financed by the creditors
and it indicate the how well creditors protect his cash or assets in case of solvency, it means the low ratio the
better the company ,in 2017 the ratio is less it means in 2017 better in position. Profitability ratios means the
how we can return in term of assets, this company varies either increasing or decreasing.
3 60
LEVERRAGE
2 40
RATIOS/SOL PROFITABILIT
VENCY Y RATIOS ROI
1 20
RATIOS
0 debt ratiio 0
-20
Market based ratios:

How get earned in term to set the price greater the ratio of efficiency.
MARKKET BASED
Priice to earning
5
MARKKET
0 BASED Priice
to earning
-5
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Hino Pak Motor:

2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 11.40% 10.97% 15.27% 15.62% 14.46% 10.76% 10.36% 7.94% 10.30% 17.73%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
total asset turnover 1.84 2.23 1.87 1.54 1.22 1.49 1.31 2.04 2.43 1.59
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
LEVERRAGE RATIOS/SOLVENCY RATIOS
debt ratiio 0.06 0.06 0.06 0.05 0.05 0.06 0.06 0.05 0.02 0.03
equity ratio 2.4 2.4 1.3 2.01 1.09 159 1.88 1.33 1.7 1.09
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
PROFITABILITY RATIOS ROA 7.94% 11.13% 11.52% 13.05% 8.28% 0.58% 0.38% -0.66% 1.40% 12%
ROE 21.72% 23.49% 25.96% 26.92% 18.43% 1.16% 1.71% -2.04% 4.19% 31.24%
GROSS PROFIITT 11.40% 10.97% 15.27% 15.62% 14.46% 10.76% 10.36% 7.94% 10.30% 17.73%
PROFIT MARGIN 4.32% 4.98% 6.16% 8.49% 6.78% 0.39% 0.29% -0.32% 0.58% 7.54%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
MARKKET BASED price to earning 12.52 17.72 10.92 9.83 8.51 37.27 35.33 -45.34 50.13 12.57
Liquidity ratios and profitability ratios
Liquidity ratios show liquidity value in HINO PAK motors

current ratios is almost better in previous ten years, on the other hand quick ratio is quit better while less then
1 it means when inventory is subtracted from assets then current assets is not meet to current liability.
Leverage ratios:
Debt ratios shows the assets financed by the creditors and it indicate the how well
creditors protect his cash or assets in case of solvency, it means the low ratio the better the company ,in 2008,9
company is much better position about ten years.
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3
2.5 debt ratiio
2
1.5 equity ratio
1
0.5
0 debt to
equity ratiio
2013
2017
2015
2011
2009
Profitability ratios & market based:

Profitability ratios means the how we can return in term of
assets, this company varies either increasing or decreasing, in marketable ratio how the company set the price
to get high earned.
40.00% PROFITABILI
30.00% TY RATIOS MARKKET BASED price
20.00%
ROA
to earning
10.00% PROFITABILI 200
MARKKET
TY RATIOS
0.00% 0 BASED price to
ROE
2017
2014
2011
2008
earning
-10.00% -200
Atlas battery Company:

2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 2.2 2.1 2 1.5 1.7 1.6 1.4 1.4 1.4 1.2
LIQUIDITY RATIOS QUIICK RATIO 1.4 1 1 0.5 0.6 0.7 0.5 0.4 0.3 0.4
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
Average c. period 23 29 36 46 27 26 26 25 35 41
inventory turnover 7.2 5.9 6.2 5.1 6.3 7.5 7.7 6.8 6 6.1
fix asset turnover 5.9 6 9.3 9.5 7.8 7.1 7.1 5.8 5.5 6.3
ASSET MANAGEMEENT RATIOS total asset turnover 2.1 2.1 3 2.3 2.4 2.7 3.3 2.9 2.7 2.8
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
LEVERRAGE RATIOS/SOLVENCY RATIOS debt ratiio 0.04 0.02 0.03 0.04 0.034 0.054 0.054 0.053 0.043 0.04
equity ratio 3.9 2.7 1.7 2.2 3.6 5.9 5.5 6.6 8.3 4.8
debt to equity ratiio 48 46.2 46.2 48 45 49 48 52 41 46
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
PROFITABILITY RATIOS ROA 17.8 19 18.8 13.9 16 18.5 18.7 18.2 17.9 17.8
ROE 26 28.4 29.7 29 29.7 32.4 37.1 32.5 33.4 26.3
GROSS PROFIITT 17.30% 19.6 14.9 13.2 14.8 16.2 14.7 14.7 16.8 14.7
PROFIT MARGIN 8.7 9 6.5 6.1 6.6 6.7 6 5.5 5.6 4.1
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
diividdend yeild 3.9 2.7 1.7 2.2 3.6 5.9 5.5 6.6 8.3 4.8
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LIQUIDITY RATIOS:
In 2017 current ratio is high as compared to previous years, it means company is
better position, as well as quick ratio is better gradually year .
LEVERAGE RATIOS:
creditors protect his cash or assets in case of solvency, it means the low ratio the better the company, lower the
debt ratios better the company position.
60
LEVERRAGE
40 RATIOS/SOL
VENCY
20
RATIOS
debt ratiio
0
2017
2015
2013
2011
2009
PRFITABILITY RATIOS:
Profitability ratios means the how we can return in term of assets, this
company varies either increasing or decreasing.
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FORD COMPANY:
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 2.0464 2.1575 1.9921 2.145 6.483 6.7372 6.5804 1.246 1.2014 1.2347
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
fix asset turnover 42 27 43 36 24 65 56 45 46 56
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
equity ratio 5.5 2.4 2.7 6.01 4.65 3.44 3.58 4.43 5.08 4.55
debt to equity ratiio -10.503 -16.9153 -161.975 6.6013 6.5706 4.3866 4.8711 4.636 4.8984 4.3332
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
PROFITABILITY RATIOS ROA -6.794 1.4122 3.9815 11.3385 2.9629 5.9086 0.5896 3.2771 1.9332 3.0008
ROE 102.1064 -34.8497 -1021.34 134.1782 35.0991 45.6913 5.0276 25.7215 15.7604 21.7857
GROSS PROFIITT 11.8147 14.9781 19.0014 16.2192 15.364 18.1919 13.2235 16.7908 16.8676 16.2365
PROFIT MARGIN -10.2839 2.3365 5.0879 14.9058 42026 8.1359 0.8544 4.9299 3.0231 4.9312
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
MARKKET BASED Priice to earning 0 11.47 7.63 1.55 6.71 6.66 15.5 6.93 9.23 6.02
LIQUIDITY RATIOS:
ford company liquidity ratios is much better because it is higher then 1 ,shows the
high liquidity.
80
60 inventory
turnover
40
fix asset
20 turnover
total asset
0
turnover
LEVERAGE RATIOS and profitability ratios:

Debt ratios shows the assets financed by the
creditors and it indicate the how well creditors protect his cash or assets in case of solvency, it means the low
ratio the better the company, lower the debt ratios better the company position. Profitability ratios means the
how we can return in term of assets, this company varies either increasing or decreasing.
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50 60000
LEVERRAGE
0 RATIOS/SOL 40000 PROFITABIL
2017
2015
2013
2011
2009
-50 VENCY ITY RATIOS
20000
-100 RATIOS debt ROA
ratiio 0
-150
2017
2014
2011
2008
-200 -20000
EXIDE BATTERY:
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 1 1.33 1.23 1.25 1.45 1.93 1.45 1.42 1.52 1.63
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
equity ratio 3.9 2.7 1.7 2.2 3.6 5.9 5.5 6.6 8.3 4.8
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
PROFITABILITY RATIOS ROA 10% 12% 17% 17% 17% 21% 15% 15% 12% 17%
ROE 16% 16% 22% 24% 22% 25% 18% 17% 14% 20%
GROSS PROFIITT 11.95% 11.02% 12.50% 13.85% 13.46% 135.31% 12.36% 15.28% 18.45% 19.89%
PROFIT MARGIN 3% 2% 3% 4% 3% 4% 3% 3% 4% 6%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
MARKKET BASED Priice to earning 4.34 4.33 3.98 3.54 4.02 4.23 7.09 18.99 17.71 12.44
LIQUIDITY RATIOS:
If the current ratio is greater then one it means the company has better liquidity
ratios as well as quick ratios, shows the company solvency. If the quick ratios is less then one it means current
assets is not meet then current liability.
6 inventory
turnover
4
fix asset
2 turnover
total asset
0 turnover
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LEVERAGE Ratios and profitability:

Debt ratios shows the assets financed by the creditors and it
indicate the how well creditors protect his cash or assets in case of solvency, it means the low ratio the better
the company, lower the debt ratios better the company position Profitability ratios means the how we can
return in term of assets, this company varies either increasing or decreasing.
60 200%
40 LEVERRAGE 150%
PROFITABILIT
RATIOS/SOLV 100%
20 Y RATIOS
ENCY RATIOS
50% PROFIT
debt ratiio
0 0% MARGIN
2017
2015
2013
2011
2009
How to set price to get earned more profit.
MARKKET BASED Priice

to earning
20
10 MARKKET
BASED Priice to
0
earning
2017
2015
2014
2013
2012
2011
2010
2009
2008
20116
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BMW motors:
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 1.23 1.13 1.13 0.59 0.77 1.34 1.43 1.56 1.66 0.98
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
total asset turnover 1.09 1.09 1 1.-2 1.02 0.99 0.98 0.87 0.99 0.87
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
debt ratiio 0.6 0.4 0.34 0.54 0.34 0.34 0.66 0.44 0.34 0.54
equity ratio 0.19 0.23 0.12 0.12 0.22 0.21 0.32 0.121 0.21 0.22
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
PROFITABILITY RATIOS ROA 0.234 0.1559 0.1509 0.128 0.1399 0.1311 0.1443 0.955 0.0806 0.0546
ROE 0.987 0.2715 0.466 0.31 0.3111 0.278 0.4559 0.876 0.1541 0.1341
GROSS PROFIITT 0.125 0.1972 0.1917 0.1794 0.1767 0.1706 0.1783 0.435 0.1318 0.103
PROFIT MARGIN 3% 2% 3% 4% 3% 4% 3% 3% 4% 6%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
Liquidity ratios:
If the current ratio is greater then one it means the company has better liquidity ratios
as well as quick ratios, shows the company solvency. If the quick ratios is less then one it means current assets is
not meet then current liability.
15 2 LIQUIDITY
10 inventory RATIOS
1.5
turnover CURRENT
5 1 RATIO
fix asset
0 turnover 0.5 LIQUIDITY
total asset 0 RATIOS
turnover QUIICK RATIO
Leverage ratios Profitability ratios:

75
c
the company, lower the debt ratios better the company position. Profitability ratios means the how we can
Company INDUS motors:

2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 2.56:1 1.69:1 1.67:1 1.84:1 2.32:1 2.99:1 3.35:1 1.53:1 1.58:1 1.76:1
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
inventory turnover 14 11 12 11 11 8 8 15 13 11
ASSET MANAGEMEENT RATIOS 2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
debt ratiio 62.55 0.61 0.62 0.68 0.70 62.55 0.61 0.62 0.68 0.70
LEVERRAGE RATIOS/SOLVENCY RATIOS equity ratio 7.79% 6.05% 35.91% 150.92% 35.91% 150.92% 352.20% 457.53% 35% 39%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
ROA 16.67% 6.70% 12.69% 10.22% 15.82% 12.75% 15.13% 23.81% 21.23% 20.35%
PROFITABILITY RATIOS ROE 24.28% 13.45% 27.36% 19.43% 25.29% 18.98% 19.45% 37.90% 41.46% 41.67%
GROSS PROFIITT 9.29% 6.14% 8.08% 6.63% 8.53% 9.18% 10.15% 14.76% 16.30% 17.66%
PROFIT MARGIN 5.53% 3.66% 5.73% 4.45% 5.59% 5.26% 6.79% 9.44% 10.53% 11.58%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
Liquidity ratios:
If the current ratio is greater then one it means the company has better liquidity ratios as
well as quick ratios, shows the company solvency. If the quick ratios is less then one it means current assets is
not meet then current liability.
76
c
4
3.5
25
LIQUIDITY
3 RATIOS 20 inventory
2.5 CURRENT turnover
15
2 RATIO
1.5 10 fix asset
1 LIQUIDITY turnover
RATIOS 5
0.5 total asset
0 QUIICK 0 turnover
RATIO
2010
2017
2015
2014
2013
2012
2011
2009
2008
20116
Leverage ratios and profitability:
the company, lower the debt ratios better the company position Profitability ratios means the how we can
60 0.5
50
0.4
40 LEVERRAGE PROFITABILITY
30 RATIOS/SOLV 0.3 RATIOS
20 ENCY RATIOS 0.2
10
0 0.1
0.61
0.68
0.62
0.70
62.55
debt ratiio
77
c
Company NISAAN:
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 1.01 1.45 1.32 1.2 1.21 1.31 1 1.42 1.22 1.46
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
debt ratiio 0.66 0.61 0.62 0.68 0.70 0.78 0.79 0.82 0.81 0.77
equity ratio 2.44 2.17 2.39 3.47 4.27 5.45 6.30 9.38 8.11 6.04
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
ROA 0.05 0 -0.02 0.04 0.06 0.04 1.01 0.02 0.04 0.05
PROFITABILITY RATIOS ROE 0.14 0.03 -0.07 0.14 0.22 0.11 0.24 0.10 0.20 0.03
GROSS PROFIITT 11.40% 10.97% 15.27% 15.62% 14.46% 10.76% 10.36% 7.94% 10.30% 17.73%
PROFIT MARGIN 0.97 0.77 1.05 2.87 5.19 1.44 2.33 3.13 2.31 -2.35
ROI 0.48 0.40 0.64 5.10 10.09 10.37 10.09 10.37 4.67 3.41
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
MARKKET BASED Priice to earning 3.04 2.16 3.29 9.87 18.54 4.20 7.50 6.89 4.54 (3.52)
Liquidity ratios:
Nissan company has better position in liquidity ratios because its better position in almost
every years.. If the current ratio is greater then one it means the company has better liquidity ratios as well as
quick ratios, shows the company solvency. If the quick ratios is less then one it means current assets is not meet
then current liability.
2
LIQUIDITY
1.5 RATIOS
CURRENT
1 RATIO
0.5 LIQUIDITY
RATIOS
0 QUIICK
2017
2015
2013
2011
2009
RATIO
78
c
Assets management ratios:

How to get profit in term of assets turnover or fixed assets.
25000
20000
ASSET
15000 MANAGEME
10000 ENT RATIOS
5000
0
1 3 5 7 9
Leverage ratios:
creditors protect his cash or assets in case of solvency, it means the low ratio the better the company, lower the
debt ratios better the company position Profitability ratios means the how we can return in term of assets, this
10
8
6 LEVERRAGE
RATIOS/SOLVENCY
4
RATIOS
2
0
0.66
0.61
0.62
0.68
0.70
0.78
0.79
0.82
0.81
0.77
debt ratiio
79
c
Company General tyres :

2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 0.87 0.98 1.03 1.04 1.14 0.86 1.21 1.21 1.22 1.04
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
debt ratiio 8.94% 6.75% 4.47% 3.40% 22.48% 50.54% 25.07% 50.54% 69.74% 74.04%
LEVERRAGE RATIOS/SOLVENCY RATIOS equity ratio 15.53% 11.65% 7.79% 6.05% 35.91% 150.92% 35.91% 150.92% 352.20% 457.53%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
ROA 0.37% 0.33% 0.61% 4.54% 9.18% 9.17% 10.24% 9.17% 1.89% 0.85%
PROFITABILITY RATIOS ROE -9.87 16.41 17.6 13.31 21.98 0.65% 0.56% 1.06% 8.08% 14.66%
GROSS PROFIITT 11.25 15.19 13.35 12.79 16.27 14.44 15.2 10.5 12.55 12.55
PROFIT MARGIN 0.97 0.77 1.05 2.87 5.19 1.44 2.33 2.88 2.55 2.9
ROI 4.5 4.56 2.33 2.87 5.5 5.56 4.8 4.8 4.6 4.6
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
MARKKET BASED Priice to earning 12.52 17.72 10.92 9.83 8.51 37.27 35.33 -45.34 50.13 12.57
Liquidity ratios:
In last two years liquidity ratios is lower then previous eight years otherwise almost
liquidity ratio is much better on the other hand quick ratio is average better.
If the current ratio is greater then one it means the company has better liquidity ratios as well as quick ratios,
shows the company solvency. If the quick ratios is less then one it means current assets is not meet then current
liability.
1.5
1 LIQUIDITY
0.5 RATIOS
CURRENT
0 RATIO

Assets management ratios means the how the company manage the
assets to get earned profit with return on assets and return on equity .
80
c
100
total asset
50 turnover
0 fix asset
2017
2015
2014
2013
2012
2011
2010
2009
2008
20116
turnover
Leverage ratios:
General tyre company has better debt ratios because lower the ratios better position.
Leverage ratios also protect the suppliers fund Debt ratios shows the assets financed by the creditors and it
the company, lower the debt ratios better the company position.
800.00%
600.00% debt to equity
ratiio
400.00%
equity ratio
200.00%
0.00% debt ratiio
Profitability ratios:
Profitability ratios mean the how we can return in term of assets, this company
varies either increasing or decreasing.
3000.00%
ROA
2000.00%
1000.00% ROE
0.00%
-1000.00% GROSS
PROFIITT
-2000.00%
81
c
Company Pak Suzuki:

2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 1.26 1.54 1.72 1.40 1.55 1.05 1.42 1.33 1.61 1.47
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
inventory turnover 12.2 13.1 11.1 9.4 9.6 9.5 14.3 12.22 15 14.5
debt ratiio 7.7 7.8 8.9 4.6 4.8 5.5 4.4 3.7 7.7 7.7
LEVERRAGE RATIOS/SOLVENCY RATIOS equity ratio 5.5 4.3 5.4 2.33 3.8 3.8 5 4.4 3.3 4.4
debt to equity ratiio 32.00% 33.40% 34.71% 38.85% 43.11% 44.80% 33.50% 21.10% 15.03% 19.29%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
ROA 1.31% 1.36% 2.18% 7.93% 19.33% 4.69% 8.79% 8.41% 5.42% 5.67%
PROFITABILITY RATIOS ROE 21.72% 23.49% 25.96% 26.92% 18.43% 1.16% 1.71% -2.04% 4.19% 31.24%
GROSS PROFIITT 2.96% 1.46% 1.61% 9.80% 11.10% 10.06% 11.10% 10.06% 6.66% 7.73%
PROFIT MARGIN 1.27% 1.04% 1.47% 8.02% 8.61% 7.36% 8.61% 7.36% 1.52% 1.06%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
Liquidity ratios:
Liquidity ratios in which a company ability to meet its current obligation. If the current
ratio is greater then one it means the company has better liquidity ratios as well as quick ratios shows the
company solvency. If the quick ratios is less then one it means current assets is not meet then current liability .
This company is Almost all years current ratios is greater then one and quick ratios is lower then one in almost
all years.
2.00
1.50
LIQUIDITY RATIOS
1.00 CURRENT RATIO
0.50
LIQUIDITY RATIOS
- QUIICK RATIO
2017
2010
2015
2014
2013
2012
2011
2009
2008
20116

assets to get earned profit with return on assets and return on equity.
82
c
20
15 inventory
turnover
10
fix asset
5 turnover
0 total asset
2017
2015
2014
2013
2012
2011
2010
2009
2008
20116
turnover
Leverage ratios:
Leverage ratios also protect the suppliers fund Debt ratios shows the assets financed by
the creditors and it indicate the how well creditors protect his cash or assets in case of solvency, it means the
low ratio the better the company, lower the debt ratios better the company position.
10
debt ratiio
8
6
equity ratio
4
2
debt to equity
0
ratiio
1 3 5 7 9
Profitability ratios means the how we can return in term of assets, this company
varies either increasing or decreasing.
40.00%
30.00% ROA
20.00% ROE
10.00%
GROSS
0.00% PROFIITT
1 2 3 4 5 6 7 8 9 10
-10.00%
83
c
COMPANY GENERAL MOTORS:

2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 1.13 1.13 1.22 1.3 1.31 1.27 0.98 0.9 0.89 0.9
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
inventory turnover 0 11.1007 9.8078 9.1574 9.6128 9.7851 10.4179 8.5948 11.7892 11.9438
debt ratiio 0.64 0.64 0.66 0.48 0.57 0.57 0.61 0.62 0.61 0.54
LEVERRAGE RATIOS/SOLVENCY RATIOS equity ratio 3.5 4.2 4.55 3.6 3.6 3.5 2.8 2.9 3.1 3.1
debt to equity ratiio -10.503 -16.9153 -161.975 6.6013 6.5706 4.3866 4.8711 4.636 4.8984 4.3332
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
ROA -6.794 1.4122 3.9815 11.3385 2.9629 5.9086 0.5896 3.2771 1.9332 3.0008
GROSS PROFIITT 9.29% 6.14% 8.08% 6.63% 8.53% 9.18% 10.15% 14.76% 16.30% 17.66%
PROFIT MARGIN 5.53% 3.66% 5.73% 4.45% 5.59% 5.26% 6.79% 9.44% 10.53% 11.58%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
s MARKKET BASED Priice to earning 3.58 8.03 14.19 17.98 4.99 5.36 5.6 8.9 4.6 8.9
Liquidity ratios:
ratio is greater then one it means the company has better liquidity ratios as well as quick ratios, shows the
company solvency. If the quick ratios is less then one it means current assets is not meet then current liability.
This company is Almost all years current ratios is greater then one and quick ratios is lower then one in almost
all years.
3
2.5
2 QUIICK RATIO
1.5
1
0.5 CURRENT
0 RATIO

assets to get earned profit with return on assets and return on equity.
84
c
15 inventory
10 turnover
5 fix asset
turnover
0
2017
2015
2014
2013
2012
2011
2010
2009
2008
20116
total asset
turnover
Leverage ratios:
50
debt ratiio
0
-50 1 2 3 4 5 6 7 8 9 10
equity ratio
-100
-150 debt to equity
ratiio
-200
Liquidity ratios in which a company ability to meet its current obligation. If the
current ratio is greater then one it means the company has better liquidity ratios as well as quick ratios, shows
the company solvency. If the quick ratios is less then one it means current assets is not meet then current
liability.
85
c
15
ROA
10
5 ROE
0
2017
2015
2014
2013
2012
2011
2010
2009
2008
20116
-5 GROSS
PROFIITT
-10
COMPANY SAZGAAR:
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 2.38 2.09 1.777 1.58 1.52 1.54 1.43 1.22 2.3 2.52
LIQUIDITY RATIOS QUIICK RATIO 2.56:1 1.69:1 1.67:1 1.84:1 2.32:1 2.99:1 3.35:1 1.53:1 1.58:1 1.76:1
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
debt ratiio 0.54 0.51 0.45 0.43 0.56 0.54 0.45 0.41 0.44 0.43
LEVERRAGE RATIOS/SOLVENCY RATIOSequity ratio 6.60% 6.66% 7.20% 7.30% 10.10% 11.20% 9.50% 9.50% 6.60% 4.50%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
ROA 0.1667 0.067 0.1269 0.1022 0.1582 0.1275 0.1513 0.2381 0.2123 0.2035
PROFITABILITY RATIOS ROE 0.2428 0.1345 0.2736 0.1943 0.2529 0.1898 0.1945 0.379 0.4146 0.4167
GROSS PROFIITT 9.90% 10.77% 29.90% 10.74% 10.19% 10.90% 11.50% 10.90% 11.30% 11.45%
PROFIT MARGIN 4.16% 5.11% 7.16% 5.81% 4.37% 2.72% 4.65% 5.80% 5.14% 4.80%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
Liquidity ratios:
ratio is greater then one it means the company has better liquidity ratios as well as quick ratios, shows the
company solvency. If the quick ratios is less then one it means current assets is not meet then current liability
3
2 LIQUIDITY
1 RATIOS QUIICK
RATIO
0

assets to get earned profit with return on assets and return on equity .
86
c
25
20 inventory
15 turnover
10 fix asset turnover
5
0 2012 total asset
2017
2015
2014
2013
2011
2010
2009
2008
20116
turnover
Leverage ratios:
Leverage ratios also protect the suppliers fund Debt ratios shows the assets financed
by the creditors and it indicate the how well creditors protect his cash or assets in case of solvency, it means the
1
0.8 debt to equity
0.6 ratiio
0.4 equity ratio
0.2
0 debt ratiio
Profitability ratios means the how we can return in term of assets, this
1 PROFIT MARGIN
0.8
0.6 GROSS
PROFIITT
0.4
0.2 ROE
0
ROA
87
c
Deewan motors:
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 1.45 1.43 1.35 1.36 1.37 1.27 1.42 1.11 1.14 1.01
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
debt ratiio 8.94% 6.75% 4.47% 3.40% 22.48% 50.54% 25.07% 50.54% 69.74% 74.04%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
ROA 1.31% 1.36% 2.18% 7.93% 19.33% 4.69% 8.79% 8.41% 5.42% -4.18%
PROFITABILITY RATIOS ROE 6.16% 4.43% 6.81% 19.70% 39.97% 13.82% 25.29% 27.39% 22.41% -22.40%
GROSS PROFIITT 1.27% 1.04% 1.47% 8.02% 8.61% 7.36% 8.61% 7.36% 1.52% 1.06%
PROFIT MARGIN 2.76% 3.53% 2.38% 4.78% 7.25% 4.00% 5.37% 7.20% 6.67% 1.59%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
Liquidity:
Liquidity ratios in which a company ability to meet its current obligation .if the current ratio is
greater then one it means the company has better liquidity ratios as well as quick ratios, shows the company
solvency. If the quick ratios is less then one it means current assets is not meet then current liability.
2.00
LIQUIDITY
1.50 RATIOS
CURRENT
1.00 RATIO
0.50 LIQUIDITY
RATIOS QUIICK
- RATIO
Assets management:
Assets management ratios means the how the company manage the assets to get
earned profit with return on assets and return on equity .
88
c
30.00
25.00 inventory
20.00 turnover
15.00
10.00 fix asset
5.00 turnover
- total asset
2017
2015
2014
2013
2012
2011
2010
2009
2008
20116
turnover
Leverage ratios:
200.00% debt to
150.00% equity ratiio
100.00% equity ratio
50.00%
0.00%
debt ratiio
2013
2017
2015
2011
2009
Profitability ratio:
Liquidity ratios in which a company ability to meet its current
obligation. If the current ratio is greater then one it means the company has better liquidity ratios as well as
quick ratios, shows the company solvency. If the quick ratios is less then one it means current assets is not meet
then current liability.
89
c
100.00% PROFIT
80.00% MARGIN
60.00% GROSS
40.00% PROFIITT
20.00% ROE
0.00%
-20.00% ROA
-40.00%
ALGHAZI MOTORS:
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 2.62 3.74 5.85 4.7 6.12 6.09 7.02 10.54 3.32 1.41
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
debt ratiio 8.40% 6.20% 8.10% 3.40% 5.20% 3.10% 7.70% 7.20% 6.10% 5.80%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
ROA 15.71% 23.62% 24.90% 15.88% 20.23% 13.96% 15.77% 24.86% 41.49% 53.10%
PROFITABILITY RATIOS ROE 21.72% 23.49% 25.96% 26.92% 18.43% 1.16% 1.71% -2.04% 4.19% 31.24%
GROSS PROFIITT 2.96% 1.46% 1.61% 9.80% 11.10% 10.06% 11.10% 10.06% 6.66% 7.73%
PROFIT MARGIN 1.27% 1.04% 1.47% 8.02% 8.61% 7.36% 8.61% 7.36% 1.52% 1.06%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
Priice to earning 3.58 8.03 14.19 17.98 4.99 5.36 5.6 8.9 4.6 8.9
MARKKET BASED
Liquidity ratios:
Liquidity ratios in which a company ability to meet its current
obligation. If the current ratio is greater then one it means the company has better
liquidity ratios as well as quick ratios, shows the company solvency. If the quick ratios is
less then one it means current assets is not meet then current liability.
90
c
12 LIQUIDITY
10 RATIOS
8 CURRENT
6 RATIO
4
2 LIQUIDITY
0 RATIOS QUIICK
RATIO
Leverage ratios
the creditors and it indicate the how well creditors protect his cash or assets in case of
solvency, it means the low ratio the better the company, lower the debt ratios better
the company position
800.00%
debt ratiio
600.00%
400.00% equity ratio
200.00%
0.00% debt to equity
ratiio
2017
2015
2013
2011
2009
Assets management ratios
Assets management ratios means the how the company manage the assets to get earned profit with return on
assets and return on equity
70
60
50 inventory
40 turnover
30 fix asset
20 turnover
10
total asset
0
turnover
2012
2011
2017
2015
2014
2013
2010
2009
2008
20116
Profitability ratios
91
c
Profitability ratios means the how we can return in Term of assets, this company varies either increasing or
decreasing
100.00%
PROFIT
MARGIN
50.00%
GROSS
PROFIITT
0.00%
ROE
-50.00%
Thal motors
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 0.87 0.98 1.03 1.04 1.14 0.86 1.21 1.21 1.22 1.04
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
debt ratiio 62.55 0.61 0.62 0.68 0.70 62.55 0.61 0.62 0.68 0.70
equity ratio 7.79% 6.05% 35.91% 150.92% 35.91% 150.92% 352.20% 457.53% 35% 39%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
ROA 16.67% 6.70% 12.69% 10.22% 15.82% 12.75% 15.13% 23.81% 21.23% 20.35%
GROSS PROFIITT 9.29% 6.14% 8.08% 6.63% 8.53% 9.18% 10.15% 14.76% 16.30% 17.66%
PROFIT MARGIN 5.53% 3.66% 5.73% 4.45% 5.59% 5.26% 6.79% 9.44% 10.53% 11.58%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
LIQUIDITY RATIOS
Liquidity ratios in which a company ability to meet its current obligation. If the current ratio is greater then one
it means the company has better liquidity ratios as well as quick ratios, shows the company solvency. If the quick
ratios is less then one it means current assets is not meet then current liability
92
c
1.5
LIQUIDITY
RATIOS
1 CURRENT
RATIO
0.5
LIQUIDITY
RATIOS QUIICK
0
RATIO
ASSETS Management
40
30 total asset
turnover
20
fix asset
10 turnover
0 inventory
2009
2017
2015
2014
2013
2012
2011
2010
2008
20116
turnover
LEVERAGE RATIOS
the company, lower the debt ratios better the company position
93
c
120.00
100.00
debt to equity
80.00
ratiio
60.00
equity ratio
40.00
20.00 debt ratiio
0.00
2017
2015
2013
2011
2009
PROFITABILITY RATIOS
Profitability ratios means the how we can return in term of assets, this company varies either increasing or
decreasing.
100.00%
80.00% PROFIT
MARGIN
60.00%
40.00% GROSS
20.00% PROFIITT
0.00% ROE
94
c
ISUZU Company
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO
1.48 1.24 1.23 1.5 1.5 1.488 1.32 0.56 1.22 1.21
LIQUIDITY RATIOS QUIICK RATIO
0.44 0.3 0.6 0.3 0.3 0.2 1.67 0.4 1.1 1.1
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
debt ratiio 8.8 8.9 7.7 7.8 8.9 4.6 4.8 5.5 4.4 3.7
LEVERRAGE RATIOS/SOLVENCY RATIOSequity ratio 1.71 1.88 1.65 1.49 1.65 1.72 1.72 1.66 1.67 1.71
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
ROA 16.1 16.3 17.1 17.5 18.23 17.7 14.6 15.32 15.7 16.1
GROSS PROFIITT 13.2 14.8 16.2 14.7 14.7 16.8 15.11 15.33 16.21 14.3
PROFIT MARGIN 5.7 6.18 7.55 9.55 5.99 4.72 6.15 5.45 5.4 5.6
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
LIQUIDITY RATIOS
1.8
1.6
1.4
1.2
1
0.8 CURRENT RATIO
0.6 QUIICK RATIO
0.4
0.2
0
2017
2015
2014
2013
2012
2011
2010
2009
2008
20116
ASSETS Management
95
c
35.0
30.0
25.0
20.0 total asset turnover
15.0 fix asset turnover
10.0
inventory turnover
5.0
-
2017
2015
2014
2013
2012
2011
2010
2009
2008
20116
decreasing.
50
40
30 PROFIT MARGIN
GROSS PROFIITT
20
ROE
10
ROA
0
2008
2017
2015
2014
2013
2012
2011
2010
2009
20116
LEVERAGE RATIOS
96
c
14
12
10
8
debt to equity ratiio
6 equity ratio
4 debt ratiio
2
0
2017
2015
2014
2013
2012
2011
2010
2009
2008
20116
Agri auto motors

2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 1.5 0.87 1.25 1.26 1.22 1.12 0.91 0.86 0.88 0.88
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
inventory turnover 9.9 11..2 12.9 11.78 12.43 13.112 13.44 12.98 14.1 14.22
debt ratiio 0.32 0.32 0.32 0.45 0.51 0.49 0.49 0.48 0.46 0.45
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
ROA 0.566 0.4 2.2 7.9 0.21 2.1 2.2 23.6 2.779 2.9
PROFITABILITY RATIOS ROE 1.6 1.5 10.1 0.7 0 0.8 0.9 0 0.9 3.1
GROSS PROFIITT 8.67% 8.53% 9.18% 10.15% 14.76% 16.30% 17.66% 14.66% 12.20% 7.97%
PROFIT MARGIN 7..9% 7.89% 8.21% 8.32% 9.00% 8.21% 8.23% 8.32% 7.70% 9.56%
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
97
c
LEVERAGE RATIOS
2.5
1.5
debt ratiio
1 equity ratio
debt to equity ratiio
0.5
0
2017
2015
2014
2013
2012
2011
2010
2009
2008
20116
LIQUIDITY RATIOS
2.5
1.5
QUIICK RATIO
1
CURRENT RATIO
0.5
ASSETS Management
98
c
16
14
12
10
8 inventory turnover

4 total asset turnover
2
0
2015
2017
2014
2013
2012
2011
2010
2009
2008
20116
VOLVO COMPANY
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 1.301768 1.443 1.166906 0.067431 -0.13512 1.518177 1.551 0.88655 0.6544 1.2323
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
inventory turnover 41.1078 1.665346 0.74228 -0.31616 -11.4488 8.856529 -8.93082 -1.48119 16.24326 1.65053
debt ratiio 0.3 0.2 0.1 0.4 0.4 0.4 0.3 0.2 0.2 0.4
LEVERRAGE RATIOS/SOLVENCYequity
RATIOSratio 1.8 1.88 1.46 1.55 1.4 1.0 0.8 1.2 1.4 2.1
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
ROA 2.823213 1.007082 0.044596 -0.39617 -0.29241 0.556345 -1.48317 1.387442 36.53168 -0.16516
PROFITABILITY RATIOS ROE 2.478603 3.55508 0.034029 0.069895 -2.18337 1.274208 2.313805 2.352479 -11.5948 -0.37827
GROSS PROFIITT 6.20% 6.33% 5.50% 4.30% 7.20% 6.10% 6.67% 6.50% 6.44% 5.90%
PROFIT MARGIN 0.97 0.77 1.05 2.87 5.19 1.44 2.33 2.88 2.55 2.9
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
LEVERAGE RATIOS
99
c
3.0
2.5
2.0
1.5 debt ratiio
1.0 equity ratio
0.5 debt to equity ratiio

-
2011
2010
2009
2017
2015
2014
2013
2012
2008
20116
decreasing.
50
40
30 PROFIT MARGIN
20 GROSS PROFIITT
10 ROE
ROA
0
-10
-20
LIQUIDITY RATIOS
100
c
2.5
1.5 QUIICK RATIO
1 CURRENT RATIO
0.5
-0.5
ASSETS Management
50
40
30
total asset turnover
20
fix asset turnover
10
inventory turnover
0
2017
2015
2014
2013
2012
2011
2010
2009
2008
20116
-10
-20
101
c
TATA COMPANY
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 1.42 1.51 1.22 1.44 1.23 1.53 1.5 0.87 0.75 0.77
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
total asset turnover 0.177342 0.446233 0.671183 0.822048 1.427979 1.430632 1.427771 3.01006 -2.26216 1.430632
debt ratiio 0.43 0.43 0.51 0.42 0.48 0.4 0.322 0.54 0.54 0.51
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
ROA 14.2 14.31 15.1 15.4 16.3 16.32 14.3 13.6 14.6 14.65
PROFITABILITY RATIOS ROE 31.2 31.22 23 28.3 23.4 26.7 32.5 29.7 29.6 31.3
GROSS PROFIITT 13.22 19.6 14.9 13.2 14.8 16.2 14.7 14.7 16.8 14.7
PROFIT MARGIN 8.8 8.8 6.5 3.84 3.82 2.6 2.64 2.87 2.2 0.99
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
MARKKET BASED Priice to earning 9.9 8 12.1 10.6 8.4 5 5.43 6.8 5.7 10.1
ASSETS Management
12
10
6
inventory turnover
2
-2
-4
102
c
LIQUIDITY RATIOS
2.5
1.5
QUIICK RATIO
1 CURRENT RATIO
0.5
decreasing.
35
30
25
ROA
20
15 ROE
10 GROSS PROFIITT
5
PROFIT MARGIN
0
2017
2015
2014
2013
2012
2011
2010
2009
2008
20116
LEVERAGE RATIOS
103
c
7
6
5
4
debt ratiio
3 equity ratio
2 debt to equity ratiio
1
0
104
c
ATLAS HONDA
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
CURRENT RATIO 1.45 1.322 1.21 1.22 0.98 1.1 0.98 1.3 1.33 1.2
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
debt ratiio 0.47 0.446 0.51 0.54 0.588 0.49 0.55 0.51 0.48 0.51
debt to equity ratiio 48.1 44.2 45 51 53 44 45 39 38 42
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
ROA 0.14 0.04 0.01 0.07 0.05 0.46 0.44 0.21 0.32 0.44
GROSS PROFIITT 12.11 13.5 13.2 14.2 13.43 12.44 14.7 14.6 15.2 14.22
PROFIT MARGIN 2.87 5.19 1.44 2.33 2.88 2.55 2.9 2.55 2.45 1.48
2017 20116 2015 2014 2013 2012 2011 2010 2009 2008
LEVERAGE RATIOS
60
50
40
30 debt to equity ratiio

equity ratio
20 debt ratiio
10
105
c
decreasing.
25
20
15 PROFIT MARGIN
GROSS PROFIITT
10
ROE
ROA
5
LIQUIDITY RATIOS
106
c
2.5
1.5
QUIICK RATIO
1
CURRENT RATIO
0.5
ASSETS Management
45
40
35
30
25
15 inventory turnover
10
5
0
107
c
Summary of article
In a business environment ,there are many firms exist if word many is used is means
there is some competition between them. For judgment of competition there must b a
comparison. For this financial statement analysis is made of all the companies what
ever the motive of the statement is, it may be for comparisons or may be for the
checking of their contribution in economies of a particular state. Financial statement are
made using activity ratio, liquidity ratios, market value ratio, leverage ration and
profitability ratio. This article is basically construct to analyze three educational
institutions naming
 Centro Escolar University

 Far Eastern University
 people, Inc.
For liquidity purpose we use the following ratios current ratio, cash flow liquidity,
average collection period; and so on. For activity calculation, we use the following ratios
accounts receivable turnover, accounts payable turnover; fixed and total assets turn
over and so on. For leverage calculation the following ratios were used: debt ratio; debt
to equity ratio; and times interest ratio and so one. For profitability finding we use the
following ratios operating profit margin and net profit .the purpose of these institutions
analysis is to obtain comparative data.the financial statement record of the (2009-2011)
period were obtain from stock exchange website. The data obtain were study in details
important points were computed differently to summarized and to find the best one
among the three educational institution.
Conclusion of the analysis :

The result of analysis of twenty companies over the ten years data we determine the
vertical and horizontal analysis .and compare the worth of one company with the worth
of asset of the other company .and find out the current asset value how able a company
108
c
to meet their current obligations .and found the worth of intangible or tangible assets.
See the percentage of reserve and share capital percentage.
However, after financial ratios calculation we find out different ratios the ratios types
are liquidity ratios. Profitability ratios .asset management ratio. Solvency ratios market
base ratios. And know about how the company is liquidity ratios how they convert their
asset in to cash.
Asset management ratio shows that how to utilize the asset in term to get returns. We
find these of different companies and we can easily compare in investment perspective
in analysis in risk perspective. And these ratios is very helpful who invest in automobile
sectors.
Which company is more risky and which company give more return all these
information are get through these analysis and draw a conclusion which company is
preferable for get more return which company is less risky etc.
We show the theorical review of company in the introduction chapter, and show the
total worth of company the number of company in Pakistan stock exchange .what types
of risk faced by investor all these types of information included in this analysis.
And show the reliability and validity of the information provided and the resource of the
information of the report.
109
c
APPENDIXX
RATIOS
CURRENT RAATIO=current asset/current liabilities
QUIICK RATIO=current asset—inventories/current liabilities
INVEENTTORY TURRNOVER=cgs/average inventory
FIXED ASSSET TUURNOVER=sales/fixed asset
TOTAL ASSSET TURNOVER=sales/total asset
DEBT RATIO =total debt/total asset
DEBT TO EQUITY RATIO=total debt equity
GROSS PRROFIIT=sales -cgs/sales
NET PROOFIT=EAT/SALEES
ROA=EAT/ASSEET
ROE=EAT/EQQUITY
PRICE TO EARNNING=PRICE PPERR SHARE/EAARNIINGG PER SHHAARE
110

Comparing and Analysis Financial Statement of Automobile Sector BY

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In the Name of Allah

3.Purpose of the report ………………………………………………………………………………5

4.Research methodology ………………………………………………………………………………5

5.Basic accounting principal……………………………………………………………………………5

8.Financial statement analysis………………………………………………………………………9

10.Company used for analysis…………………………………………………………………… 14

14.Common size analysis………………………………………………………………………………22

Purpose of the report:

Basic accounting financial statements:

expenses include purchase, depreciation, administration expenses, selling expenses,

Statement of cash flows:

Cash flow and its timing:

Future fore cost of estimating earnings:

Cash flows also predict the future

Financial statements analysis:

 assessment management ratio:

 Turn over ratio:

Turnover ratio is means the firm ability to achieve the

 Total assets turnover:

 Inventory turnover sales:

Inventory turnover sales ratio means it show how

 Average collection period:

 Total debt to equity ratio:

This ratio is calculated as total debt divided by total

 Long term debt to equity ratio :

 Time interest earned:

 Time fixed charges earned:

It is define as or calculated as net income divided by total assets.

 Gross profit margin:

 Inventory turn over:

 Acid test ratios:

Compares of industry analysis and ratios with the industry norms is

Common size statement:

Comparative financial statements analysis:

Companies use for analysis:

Twenty different companies of same industries were

MILLAT TRACTORS LTD:

SAZGAR ENGINEERING WORKS LTD:

SAZGAR Engineering Works Ltd is known

BMW is a multinational company from Germany. It is known for

PAK SUZUKI MOTORS:

NISSAN MOTOR CO. LTD:

AL-GHAZI TRACTORS LTD:

EXIDE PAKISTAN LTD:

FORD MOTOR COMPANY:

HINO PAK COMPANY LTD:

INDUS MOTORS COMPANY:

ATLAS HONDA LIMITED:

ISUZU MOTORS LTD:

TATA MOTORS LTD:

Common size analysis:

Vertical analysis is calculated as all the value of balance sheet is

In which we take the analysis of ratios, common size analysis,

Validity and reliability:

Validity is a technique and it is used for measuring the

Reliability means combination of consistency, reliability means checking the

In this section we totally focus on empirical analysis and show the

Common size analysis of financial statement:

Horizontal Analysis of Pak Suzuki motors

INTERPERTATION OF BALANCE SHEET ANALYSIS:

Income statement of Pak Suzuki motors:

Company #02: Atlas Honda: