Homework Answers
a. Vertical analysis.
Yes the profitability is improving.
| FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | ||||||
| Revenue | 2,503,601 | 100% | 3,340,794 | 100% | 4,144,119 | 100% | 5,168,363 | 100% | 5,305,996 | 100% |
| Cost of Revenue | 1,844,902 | 74% | 2,388,731 | 72% | 2,967,571 | 72% | 3,646,195 | 71% | 3,654,871 | 69% |
| Gross Profit | 658,699 | 26% | 952,063 | 28% | 1,176,548 | 28% | 1,522,168 | 29% | 1,651,125 | 31% |
| Operating Expenses | 582,765 | 23% | 771,578 | 23% | 965,324 | 23% | 1,230,555 | 24% | 1,354,134 | 26% |
| Others - Net | 2,752 | 0% | 34,263 | 1% | 53,157 | 1% | 69,915 | 1% | 77,703 | 1% |
| Profit from Operations | 78,686 | 3% | 146,222 | 4% | 158,067 | 4% | 221,698 | 4% | 219,288 | 4% |
| Interest Income | 12,021 | 0% | 15,433 | 0% | 4,980 | 0% | 2,586 | 0% | 20,459 | 0% |
| Finance Charges | 18,945 | 1% | 55,779 | 2% | 57,299 | 1% | 51,990 | 1% | 39,708 | 1% |
| Profit before tax | 71,762 | 3% | 105,876 | 3% | 105,748 | 3% | 172,294 | 3% | 200,039 | 4% |
| Tax expense | 21,569 | 1% | 36,892 | 1% | 44,041 | 1% | 73,592 | 1% | 96,518 | 2% |
| Profit for the year | 50,193 | 2% | 68,984 | 2% | 61,707 | 1% | 98,702 | 2% | 103,521 | 2% |
b.
For this I am taking 2013 as base year
| FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | ||||||
| Revenue | 2,503,601 | 100% | 3,340,794 | 133% | 4,144,119 | 166% | 5,168,363 | 206% | 5,305,996 | 212% |
| Cost of Revenue | 1,844,902 | 100% | 2,388,731 | 129% | 2,967,571 | 161% | 3,646,195 | 198% | 3,654,871 | 198% |
| Gross Profit | 658,699 | 100% | 952,063 | 145% | 1,176,548 | 179% | 1,522,168 | 231% | 1,651,125 | 251% |
| Operating Expenses | 582,765 | 100% | 771,578 | 132% | 965,324 | 166% | 1,230,555 | 211% | 1,354,134 | 232% |
| Others - Net | 2,752 | 100% | 34,263 | 1245% | 53,157 | 1932% | 69,915 | 2541% | 77,703 | 2824% |
| Profit from Operations | 78,686 | 100% | 146,222 | 186% | 158,067 | 201% | 221,698 | 282% | 219,288 | 279% |
| Interest Income | 12,021 | 100% | 15,433 | 128% | 4,980 | 41% | 2,586 | 22% | 20,459 | 170% |
| Finance Charges | 18,945 | 100% | 55,779 | 294% | 57,299 | 302% | 51,990 | 274% | 39,708 | 210% |
| Profit before tax | 71,762 | 100% | 105,876 | 148% | 105,748 | 147% | 172,294 | 240% | 200,039 | 279% |
| Tax expense | 21,569 | 100% | 36,892 | 171% | 44,041 | 204% | 73,592 | 341% | 96,518 | 447% |
| Profit for the year | 50,193 | 100% | 68,984 | 137% | 61,707 | 123% | 98,702 | 197% | 103,521 | 206% |
| 2013 | 2014 | 2015 | 2016 | 2017 | ||||||||
| c | Current ratio | Current assets / Current liabilities | 907,465 / 295,920 | 3.07 | 840,797 / 482,346 | 1.74 | 956,093 / 629,788 | 1.52 | 1,906,830 / 726,016 | 2.63 | 2,170,793 / 872,198 | 2.49 |
| The ratio has deteriorated | The ratio has further deteriorated | The ratio has improved and looks better | The ratio has deteriorated by a small margin | |||||||||
| d | Total asset turnover | Revenue / Total assets | 2,503,601 / 2,600,775 | 0.96 | 3,340,794 / 2,846,213 | 1.17 | 4,144,119 / 2,986,270 | 1.39 | 5,168,363 / 4,215,690 | 1.23 | 5,305,996 / 7,596,268 | 0.70 |
| The ratio has improved | The ratio has further improved | The ratio has deteriorated by a small margin | The ratio has further deteriorated | |||||||||
| e | Debt to equity | Total liabilities / Total Equity | 961,783 / 1,638,991 | 59% | 1,186,283 / 1,659,831 | 71% | 1,246,319 / 1,739,951 | 72% | 1,086,620 / 3,129,070 | 35% | 1,282,754 / 6,313,514 | 20% |
| The ratio has deteriorated | The ratio has further deteriorated | The ratio has improved and looks better | The ratio has further improved | |||||||||
| f | Interest coverage | Profit before interest / Interest | (71,761 + 18,945) / 18,945 | 4.79 | (105,876 + 55,779) / 55,779 | 2.90 | (105,747 + 57,299) / 57,299 | 2.85 | (172,294 + 51,990) / 51,990 | 4.31 | (200,039 + 39,708) / 39,708 | 6.04 |
| The ratio has deteriorated | The ratio has further deteriorated | The ratio has improved and looks better | The ratio has further improved |
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