LSE Financial Analysis.doc

LSE Financial Analysis.doc - FINANCIAL MANAGEMENT I Take...

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FINANCIAL MANAGEMENT – I Take Home Assignment Submission VII Submitted By: Roll No. B11076 The LTD-to-Equity Ratio, Interest-Bearing-Liabilities-to-Equity Ratio and the TD-to-Equity Ratio Long term Debt includes both long term secured and unsecured loans and deferred tax liabilities. Interest Bearing Liabilities include all working capital loans from banks, term loans, corporate loans, HP Loans, Commercial Papers, fixed and loan deposits but excludes sundry creditors, advance received, dividend issued but not encashed, interest accrued but due, provisions. Total Debt includes both short term loans and long term loans as well as deferred tax liabilities. Summary of Debt Equity position of the company 1 (Excel Sheet Attached)
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2010-11 2009-10 2008-09 2007-08 2006-07 Equity Share Capital 1857.23 1857.23 1857.23 1857.23 618.47 37602.86 30753.41 25682.77 21815.37 18171.9 Secured Loans Working Capital loans from Banks 15839.69 18870.32 32295.72 23,334.78 21,876.05 Term Loans 10090.89 14270.17 19962.87 8,624.60 4,098.04 Corporate Loans 5160 0 0 0 627.88 Hire Purchase Loans 254.52 147.21 102.33 131.68 126.6 Deferred Tax Liability Net Deferred Tax Liability 4106.45 4025.85 3278.03 1,710.76 1,676.95 Unsecured Loans From Banks incl. Commercial Papers 21562.29 18488.07 6847.28 8835.03 1,043.71 Fixed and loan deposits 0 0 0 0 87.05 Foreign Currency convertible bonds 0 0 0 0 45.28 Interest accrued and due 0 1.76 1.76 0 28.49 Current Liabilities Sundry Creditors 35647.23 29469.48 28167.81 27,526.23 20,395.53 Advances from Customers 11846.02 8529.91 12569.49 5,185.15 4,544.00 Dividends issued but not encashed 68.31 48.59 32.59 20.56 19.53 Interest accrued but not due 302.66 634.83 97.16 162.85 57.19 Provisions Provisions for gratuity 516.2 574.57 680.58 479.2 Proposed dividentd 1671.51 1392.92 1392.92 1,392.92 463.86 Dividend tax on proposed dividend 271.16 231.35 236.73 236.73 78.83 All figures are in Rupees Lacs Calculations Long Term Debt 57013.84 55803.38 62487.99 42636.85 29610.05 Interest Bearing Liabilities 57316.50 56438.21 62585.15 42799.70 29667.24 Total Debt 107336.93 96685.03 105665.27 77640.49 55168.99 Equity 39460.09 32610.64 27540.00 23672.60 18790.37 Long Term Debt to Equity Ratio 1.44 1.71 2.27 1.80 1.58 Interest Bearing Liabilities to Equity Ratio 1.45 1.73 2.27 1.81 1.58 Total Debt to Equity Ratio 2.72 2.96 3.84 3.28 2.94 1. Annual Report 2008, Annual Report 2009, Annual Report 2010, Annual Report 2011 http://www.elecon.com/investors-relations.php?type=fs Surrogate Debt Item Lease is a surrogate instrument in company’s balance sheet. A lease is an agreement whereby the lessor conveys to the lessee in return for a payment or series of
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