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Ratios

Financial Ratios Unit 2018 2017 2016 2015 2014 2013
Profitability Ratios
Gross Profit Ratio % 31.05 32.17 33.13 35.36 35.05 34.61
Operating Profit to Sale % 6.34 8.48 8.97 12.64 11.8 12.4
Net Profit before  Tax  to Sales % 5.43 7.86 8.37 12.26 10.88 11.53
Net Profit after Tax  to Sales % 4.76 5.8 5.87 8.51 7.55 7.95
EBITDA Margin to Sales % 8.26 10.1 10.57 14.31 13.38 13.75
Operating Leverage Ratio % -13.51 71.94 -110.39 142.69 60.01 87.52
Return on Equity % 27.77 32.8 29.88 39.57 37.55 44.18
Return on Capital Employed % 32.19 42.36 43.89 55.92 54.68 63.75
Return on Assets % 9.39 10.34 11.82 17.78 14.75 16.03
 
Liquidity Ratios
Current Ratio Times 0.88 1.05 1.13 1.49 1.42 1.3
Quick / Acid Test Ratio Times 0.31 0.41 0.33 0.64 0.56 0.51
Cash to Current Liabilities Times -0.15 -0.12 -0.16 -0.04 -0.33 -0.32
Cash Flow from Operations to Sales % 6.07 8.48 3.63 12.09 5.65 4.03
Working Capital Turnover Times -26.68 64.91 24.66 8.91 8.97 11.69
 
Efficiency Ratios
No. of Days in Inventory Days 87.04 107.4 111.63 108.65 119.66 113.32
No. of Days in Receivables Days 21.38 24.99 26.97 29.23 27.25 20.1
No. of Days in Payables Days 20.79 14 13.27 17.14 15.4 16.98
Operating Cycle Days 87.63 118.39 125.34 120.73 131.51 116.43
Asset Turnover Times 2.12 2.08 2.2 2.21 2.11 2.31
Inverntory Turnover Times 4.19 3.4 3.27 3.36 3.05 3.22
Receivables Turnover Times 17.07 14.61 13.53 12.49 13.4 18.16
Payables Turnover Times 17.56 26.08 27.51 21.29 23.71 21.5
Revenue / Employee Rs. 41,430 34,034 28,668 23,986 21,485 20,208
Net Income / Employee Rs. 1,480 1,442 1,188 1,459 1,189 1,186
 
Investment / Market Ratios
Earnings Per Share Rs. 9.74 9.2 7.69 9.61 7.09 6.56
Price Earning Ratio Times 32.75 29.46 36.52 35.37 113.03 54.97
Dividend Yield Ratio % 1.3 1.57 0.98 2.94 1 1.11
Dividend Payout Ratio  % 37.83 45.24 35.74 104.11 56.41 24.39
Dividend Cover Ratio Times 2.64 2.21 2.8 0.96 1.77 4.1
Cash Dividend Per Share Rs. 3.75 4.25 2.75 10 8 4
Cash Dividend  % 75 85 55 200 80 40
Stock Dividend Per Share Rs. 1  –  –     –  –     –  –     –  –    2.5
Stock Dividend % 20  –  –     –  –     –  –     –  –    25
Market Value Per Share at the
end of the year
Rs. 318.99 271 281 339.73 801.43 360.65
Low during the year Rs. 295 260 276.5 318.12 302.25 187.8
High during the year Rs. 352 413.71 366.65 433.73 801.43 391.4
Breakup Value Per Share without
Surplus on Revaluation of Fixed Assets
Rs. 38.65 32.73 24.55 26.94 43.21 40.41
Market Capitalisation (in millions) Rs. 33,049.55 28,077.46 29,113.53 35,198.34 41,514.07 14,945.34
 
Capital Structure Ratios
Financial Leverage Ratio % 74.22 56.75 51.55 13.76 42.68 56.78
Weighted Average Cost of Debt % 7.9 6.44 10.44 6.6 9.22 10.02
Debt to Equity Ratio % 4.98 20.35 –  –     –  –     –  –      –  –   
Interest Coverage Ratio Times 7 13.58 15 33.1 12.83 14.16
No. of Ordinary Shares (in millions) EA 103.61 103.61 103.61 103.61 51.8 41.44

Horizontal Analysis

National Foods Limited
Horizontal Analysis
  2018 2017 2016 2015 2014 2013
INCOME STATEMENT % % % % % %
Sales 28.40% 23.93% 16.05% 20.18% 13.85% 19.21%
Cost of Sales 30.79% 25.45% 20.04% 19.63% 13.06% 15.53%
Gross Profit 23.39% 20.09% 8.75% 21.21% 15.32% 26.86%
Administrative Cost 75.54% -0.31% 10.55% 24.93% 40.41% 32.16%
Distribution cost 22.03% 29.67% 24.16% 15.48% 16.10% 35.75%
Other Operating Expense 110.64% 10.15% -18.88% 45.23% 0.41% 10.31%
 
Administration, Distribution & Other Opertating Exp. 31.16% 24.35% 19.92% 18.09% 18.76% 33.93%
Financial Charges 86.73% 17.58% 99.56% -50.08% 19.50% 5.41%
Other Income -45.99% 202.80% -67.14% 41.35% 5.19% 56.39%
Profit before Tax -11.04% 16.18% -20.81% 35.47% 7.46% 17.79%
Taxation -57.65% 2.18% -22.89% 35.47% 6.09% 20.66%
Profit after taxation 5.52% 22.09% -19.89% 35.47% 8.07% 16.54%
 
BALANCE SHEET % % % % % %
Issued, subscribed and paid up capital 0.00% 0.00% 0.00% 0.00% 25.00% 0.00%
Unappropriated Profit 20.35% 32.83% -10.98% 31.97% 36.63% 28.23%
Non controlling interest –  – 100% –  –  –  – –  –
Exchange revaluation reserve 671.33% 155.63% 203.41% 183.17% –  – –  –
 
Long Term Obligations -39.28% 629.64% -16.23% -21.96% 3.11% 24.53%
Total Long-term Liabilities and shareholder equities 8.37% 54.70% -9.16% 21.85% 31.32% 20.21%
 
Fixed Assets, CWIP & Intangibles  37.04% 84.03% 32.16% 22.04% 19.05% 12.67%
Other Non current assets 21.02% 10.45% -10.90% 57.14% 89.17% 101.24%
Current Assets 1.91% 20.19% 16.22% 8.77% 16.64% 43.28%
Total Assets 16.11% 39.64% 20.49% 12.39% 17.45% 34.17%
Current Liabilites & Provisions 22.04% 29.96% 52.48% 3.70% 7.06% 46.94%
Net Assets 8.37% 54.70% -9.16% 21.85% 31.32% 20.21%

Vertical Analysis

National Foods Limited
Vertical Analysis
2018 2017 2016 2015 2014 2013
INCOME STATEMENT % % % % % %
Sales 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Cost of Sales 68.95% 67.69% 66.87% 64.64% 64.95% 65.39%
Gross Profit 31.05% 32.60% 33.13% 35.36% 35.05% 34.61%
Administration 4.23% 3.10% 3.85% 4.04% 3.88% 3.15%
Distribution cost 19.66% 20.68% 19.77% 18.48% 19.23% 18.86%
Other operating cost 1.07% 0.65% 0.73% 1.05% 0.87% 0.98%
Financial Charges 0.91% 0.62% 0.66% 0.38% 0.92% 0.88%
Other Income 0.25% 0.59% 0.24% 0.85% 0.72% 0.78%
Profit before Tax 5.43% 7.85% 8.36% 12.26% 10.88% 11.53%
Taxation 0.68% 2.06% 2.49% 3.75% 3.33% 3.57%
Profit after taxation 4.76% 5.60% 5.87% 8.51% 7.55% 7.95%
 
BALANCE SHEET % % % % % %
Issued, subscribed and paid up capital 11.71% 12.69% 19.63% 17.84% 21.73% 22.83%
Unappropriated Profit 73.11% 65.83% 76.67% 78.24% 72.24% 69.44%
Non controlling interest 4.49% 4.39% – 
Exchange revaluation reserve 1.27% 0.18% 0.11% 0.03% -0.05
 
Long Term Obligations 9.47% 16.91% 3.58% 3.89% 6.07% 7.73%
Total Long-term Liabilities
and shareholder equities
100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
 
Other Non current assets 0.94% 0.83% 1.17% 1.20% 0.93% 0.64%
Current Assets 128.86% 137.03% 176.38% 137.85% 154.43% 173.86%
Total Assets 247.15% 230.90% 255.57% 192.67% 208.90% 233.57%
Current Liabilites & Provisions 147.15% 130.90% 155.56% 92.67% 108.90% 133.57%
Net Assets 100% 100% 100.00% 100.00% 100.00% 100.00%

Balance Sheet Analysis

Cash Flow

Cash Flows Summary 2018 - National Foods

Value Addition

Value Addition - National Foods

© 2019 National Foods, All Rights Reserved.
Last updated on: May, 2019