5 years Ratio Analysis of Summit POwer (fin 201) (by Kams)

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Transcript of 5 years Ratio Analysis of Summit POwer (fin 201) (by Kams)

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Company Background:Summit Power Limited (SPL), sponsored by Summit Group, is the first Bangladeshi Independent Power Producer (IPP) in Bangladesh and until now the only local company in private electricity generation and supply business providing power to national grid. SPL is also the first power generating company to be listed in the local stock exchanges. SPL was incorporated in Bangladesh on March 30, 1997 as a Private Limited Company. On June 7, 2004 the Company was converted to Public Limited Company under the Companies Act 1994. Summit Power Limited has successfully established in the year 2001 three power plants each with 11 MW capacity for sale of electricity to Rural Electrification Board (REB) under Build, Own and Operate basis at Savar, Narsingdi and Comilla. Capacity of these plants had been expanded to 105 MW during 2006 and 2007. In 2009 Summit Power Limited has commissioned another 4 new power plants increasing its cumulative production capacity to 215 MW in 7 power plants. In establishing these four new power plants SPL has formed two 99% owned subsidiary companies namely Summit Purbanchol Power Company Limited (SPPCL) and Summit Uttranchol Power Company Limited (SUPCL). Considering the immense opportunities, the company is striving to establish more power plants around the country. The fast-growing company has set a mission to expand the company with a power generation capacity to the tune of 1000 MW, which is a modest 20% of the electricity requirement in Bangladesh. The company objectives include - Generate and provide uninterrupted reasonably priced electricity to our customers, efficient utilization of capital, machines, material and human resources and continuous improvement of customer satisfaction and resource management

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Summit Power Balance Sheet2005 Assets Property, Plant and Equipment capital work in progress Investments Intangible Assets Investment in FDR Total non-current assets Inventories stock in transit Other receivables Inter company receivables Accounts Receivable advances, deposits and prepayments Cash and bank balances Total currents assets total assets 385,634,438 253,792,317 478,592,366 590,570,628 636,989,366 281,955,597 27,352,148 69,637,556 96,078,438 262,510,911 6,438,065 22,210,038 21,544,037 20,103,785 36,266,955 48,035,424 73,111,666 27,990,349 188,555,114 100,000,000 202,238,917 139,249,642 1,202,598,478 2,528,902,776 3,619,096,654 5,075,058,997 4,953,954,666 45,491,139 3,714,213 19,394,459 1,244,924 28,383,838 111,724,006 169,620,386 172,149,488 170,578,020 153,600 390,872,521 220,753,275 113,400 198,000 84,400 960,480,200 10,030,350 11,854,249 960,480,200 10,766,076 12,925,020 811,572,357 2,308,036,101 3,618,814,254 4,092,694,198 3,969,783,370 2006 2007 2008 2009

1,588,232,916 2,782,695,093 4,097,689,020 5,665,629,625 5,590,944,032

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Liabilities project loan long term portion obligation under finance lease long term portion deferred liability for gratuity total noncurrent liabilities Short term loan trade creditors other creditors and accruals inter company payable project loan short term portion obligation under finance lease short term portion Liability for spare parts dividend payable total current liabilities total liabilities total equity and liabilities

334,247,536

979,717,696

1,792,800,41 1,342,237,57 5 7

905,245,038

1,188,775 2,928,374

4,097,434

1,232,436 5,241,587

569,084 7,062,794

10,260,928 7,105,218

338,364,685 16,255,205 10,771,448 1,601,920

983,815,130 49,211,134 22,244,235 64,374,835 893,796

1,799,274,43 1,349,869,45 8 5 263,156,798 221,186,387 43,739,062 36,886,623 70,633,752 3,710,294 49,344,145 116,614,378

922,611,184 65,844,879 40,557,129 13,060,867 167,379,208

175,793,377

515,077,745

475,322,943

417,033,851

431,426,270

1,062,172

1,188,775 1,858,759

568,633 27,560,615 1,595,571

663,351

3,639,067

2,161,401

3,804,948

654,849,279 886,287,668 843,890,136 725,712,368 1,638,664,40 2,685,562,10 2,193,759,59 1,648,323,55 543,848,807 9 6 1 2 1,588,232,91 2,782,695,09 4,097,689,02 5,665,629,62 5,590,944,03 6 3 0 5 2

205,484,122

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Summit Power Income Statement for 5 years2005 Revenue Cost of sales Gross profit General and administrative expense other income exchange gain Result from operating activities 215,324,816 193,778,530 453,548,714 796,205,842 703,231,325 (73,764,382) 4,417,986 779,034 (117,745,448) (134,796,007) 1,237,846 130,381 1,768,652 (40,574) (152,628,564) 2,973,226 (170,217,837) 2,684,105 521,042,084 2006 584,345,654 2007 2008 2009 1,148,766,291 1,737,787,805 1,698,858,945 (791,926,625) 945,861,180 (828,093,888) 870,765,057

(237,149,906) (274,189,903) (562,149,648) 283,892,178 310,155,751 586,616,643

Finance Income Finance Expenses Net Financial Cost Profit for the year

6,932,724 (48,050,700) (41,117,976) 174,206,840

13,170,411 (46,760,130) (33,589,719) 160,188,811

3,938,143 (189,390,627) (185,452,484) 268,096,230

12,001,050 (325,945,011) (313,943,961) 482,261,881

4,719,041 (237,199,920) (232,480,879) 470,750,446

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2(a) Vertical Balance sheet expressed as a % of Total Assets2005 Assets Property, Plant and Equipment capital work in progress Investments Intangible Assets Investment in FDR Total non-current assets Inventories stock in transit Other receivables Inter company receivables Accounts Receivable advances, deposits and prepayments Cash and bank balances Total currents assets total assets Equity share capital share premium Share money deposit proposed cash dividend proposed stock dividend retained earnings revaluation reserve Total equity attributable to equity holders of the company 51.10% 24.61% 0.01% 75.72% 2.86% 0.23% 2006 82.94% 7.93% 0.00% 90.88% 4.01% 0.00% 0.70% 2.63% 0.80% 0.98% 9.12% 100.00 % 2007 88.31% 0.00% 0.00% 0.00% 88.32% 4.14% 0.00% 0.03% 0.68% 4.60% 0.53% 1.70% 11.68% 100.00 % 2008 72.24% 0.00% 16.95% 0.18% 0.21% 89.58% 3.04% 0.00% 1.77% 3.57% 0.35% 1.70% 10.42% 100.00 % 2009 71.00% 17.18% 0.19% 0.23% 88.61% 3.05% 0.51% 2.49% 0.65% 4.70% 11.39% 100.00 %

3.02% 0.41% 17.75% 24.28% 100.00 %

40.93% 25.69% 20.94% 5.04% 2.87% 1.95% 0.16% 0.11% 4.09% 0.00% 4.09% 5.14% 0.00% 11.61% 7.24% 11.46%

32.71% 39.78% 6.86% 6.96% 0.00% 0.00%

11.35% 10.49% 10.35% 13.29%

65.76% 41.11% 34.46% 61.28% 70.52%

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Liabilities project loan - long term portion obligation under finance lease - long term portion deferred liability for gratuity total non-current liabilities Short term loan trade creditors other creditors and accruals inter company payable project loan - short term portion obligation under finance lease - short term portion Liability for spare parts dividend payable total current liabilities total liabilities total equity and liabilities

21.05% 0.07% 0.18% 21.30% 1.02% 0.68% 0.10% 11.07% 0.07%

35.21% 0.00% 0.15% 35.35% 1.77% 0.80% 2.31% 0.03% 18.51%

43.75% 0.03% 0.13% 43.91% 6.42% 1.07% 1.72% 0.09% 11.60%

23.69% 0.01% 0.12% 23.83% 3.90% 0.65% 0.87% 2.06% 7.36%

16.19% 0.18% 0.13% 16.50% 1.18% 0.73% 0.23% 2.99% 7.72%

0.04% 0.01% 0.01% 0.07% 0.00% 0.67% 0.00% 0.07% 0.04% 0.04% 0.07% 12.94% 23.53% 21.63% 14.89% 12.98% 34.24% 58.89% 65.54% 38.72% 29.48% 100.00% 100.00% 100.00% 100.00% 100.00%

Vertical Income Statement expressed as a % of SalesRevenue Cost of sales Gross profit General and administrative expense other income exchange gain Result from operating activities Finance Income Finance Expenses Net Financial Cost Profit for the year 2005 2006 2007 2008 2009 100.00% 100.00% 100.00% 100.00% 100.00% -45.51% -46.92% -48.94% -45.57% -48.74% 54.49% 53.08% 51.06% 54.43% 51.26%

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-14.16% 0.85% 0.15% 41.33% 0.00% 1.33% -9.22% -7.89% 33.43%

-20.15% 0.21% 0.02% 33.16% 2.25% -8.00% -5.75% 27.41%

-11.73% 0.15% 0.00% 39.48% 0.00% 0.34% -16.49% -16.14% 23.34%

-8.78% 0.17% 45.82% 0.69% -18.76% -18.07% 27.75%

-10.02% 0.16% 41.39%

0.28% -13.96% -13.68% 27.71%

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2(b) Horizontal Balance sheet as a percentage of base year 20052005 2006 284.39% 56.48% 73.83% 210.29% 245.60% 2007 445.90% 0.00% 54.95% 300.94% 372.86% 0.00% 2008 504.29% 0.00% 6530.18% 422.01% 378.42% 2009 489.15% 0.00% 7009.16% 411.94% 374.97%

AssetsProperty, Plant and Equipment capital work in progress Investments Intangible Assets Investment in FDR Total non-current assets Inventories stock in transit Other receivables Inter company receivables Accounts Receivable advances, deposits and prepayments Cash and bank balances Total currents assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

total assets

100.00% 100.00% 100.00% 100.00% 100.00%

152.20% 344.98% 9.70% 65.81% 175.21%

392.53% 334.64% 24.70% 124.11% 258.00%

421.02% 312.26% 34.08% 153.14% 356.73%

289.89% 563.32% 93.10% 165.18% 352.02%

Equityshare capital share premium Share money deposit proposed cash dividend proposed stock dividend retained earnings revaluation reserve Total equity attributable to equity holders of the company 100.00% 100.00% 110.00% 100.00% 132.00% 100.00% 285.12% 486.10% 342.14% 486.10%

100.00% 100.00%

220.00% 109.32%

0.00%

318.17%

318.17%

100.00%

109.54%

135.21%

332.43%

377.51%

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Liabilitiesproject loan - long term portion obligation under finance lease - long term portion deferred liability for gratuity total non-current liabilities Short term loan tra