I've analyzed and created a financial analysis of a popular textile group "Gul Ahmed". After analyzing the financial report of 2015, we gathered the data and curated a balance sheet, income statement, liquidity, profitability, activity and others.

1. ITB PRESENTATION

2. 2015 2014 2013 2012 2011 2010
(000s) (000s) (000s) (000s) (000s) (000s)
Balance Sheet
Total equity 7169472 6659903 5428502 4472509 4712873 3595765
Total non-current
liabilities
2802022 2611672 2504664 2394295 2497260 2429247
Total current
liabilities
14971853 15005632 13255764 10851954 13194546 8574679
Total equity and
liabilities
24943347 24277207 21188930 17718758 20404679 14599691
Total non-current
assets
9215047 8381303 7267065 6964606 6788103 6249091
Total current
assets
15728300 15895904 13921865 10754152 13616576 8350600
Total assets 24943347 24277207 21188930 17718758 20404679 14599691
BALANCE SHEET

3. 2015 2014 2013 2012 2011 2010
(000s) (000s) (000s) (000s) (000s) (000s)
Profit & Loss Account
Net sales 33354784 33012724 30242719 24918480 25435465 19688794
Cost of sales (27260395) (27036675) (25491927) (21432746) (20808843) (16515934)
Gross Profit 6094389 5976049 4750792 3485734 4626622 3172860
Distribution expenses (2602887) (2122660) (1509886) (1322582) (1090588) (791442)
Administrative
expenses
(1531584) (1313920) (1086920) (955070) (808926) (700085)
Other expenses (185397) (116197) (72356) (653) (116918) (53619)
Other income 343095 235555 38558 166617 25245 25116
Operating profit 2117616 2658827 2120188 1374046 2635435 1652830
Financial expenses (1334289) (1162850) (1268651) (1375463) (1097981) (944603)
Profit before taxation 783327 1495977 851537 (1417) 1537454 708227
Income tax expense (178384) (261179) (140474) (238947) (340997) (230694)
Profit for the year 604943 1234798 711063 (240364) 1196457 477533
INCOME STATEMENT

4.  Current Ratio = Current assets / Current liabilities
Liquidity
2015 2014 2013 2012 2011 2010
1.050525 1.059329 1.05025 0.990988 1.031985 0.973867
0.92
0.94
0.96
0.98
1
1.02
1.04
1.06
1.08
2015 2014 2013 2012 2011 2010

5.  Net working capital to sales ratio =
(Current assets – current liabilities) / Sales
2015 2014 2013 2012 2011 2010
0.022679 0.026968 0.022025 -0.00392 0.016592 -0.01138
-0.01
-0.005
0
0.005
0.01
0.015
0.02
0.025
0.03
2015 2014 2013 2012 2011

6.  Working Capital = Current assets – current liabilities
2015 2014 2013 2012 2011 2010
756447 890272 666101 -97802 422030 -224079
-400000
-200000
0
200000
400000
600000
800000
1000000
2015 2014 2013 2012 2011 2010

7.  Gross profit margin = Gross profit / Net sales
Profitability
2015 2014 2013 2012 2011 2010
0.182714 0.181023 0.157089 0.139885 0.181896 0.161151
0
0.05
0.1
0.15
0.2
2015 2014 2013 2012 2011 2010

8.  Operating profit margin = Operating profit / Net sales
2015 2014 2013 2012 2011 2010
0.063488 0.080539 0.070106 0.055142 0.103613 0.083948
0
0.02
0.04
0.06
0.08
0.1
0.12
2015 2014 2013 2012 2011 2010

9.  Net profit margin = Net profit / Net sales
2015 2014 2013 2012 2011 2010
0.018137 0.037404 0.023512 -0.00965 0.047039 0.024254
-0.01
0
0.01
0.02
0.03
0.04
0.05
2015 2014 2013 2012 2011 2010

10.  Total assets turnover = Sales / Total assets
Activity
2015 2014 2013 2012 2011 2010
1.337222 1.359824 1.427289 1.406333 1.246551 1.348576
1.15 1.2 1.25 1.3 1.35 1.4 1.45
2015
2014
2013
2012
2011
2010

11.  Fixed assets turnover = Sales / Fixed assets
2015 2014 2013 2012 2011 2010
3.6196 3.938853 4.161614 3.577874 3.747065 3.150665
0 1 2 3 4 5
2015
2014
2013
2012
2011
2010

12.  Total debt to asset ratio = Total debt / Total assets
Financial Leverage
2015 2014 2013 2012 2011 2010
0.71257 0.725673 0.743805 0.747583 0.76903 0.75371
0.68
0.69
0.7
0.71
0.72
0.73
0.74
0.75
0.76
0.77
0.78
2015 2014 2013 2012 2011 2010

13.  Long-term debt to asset ratio = Long term debt / Total
assets
2015 2014 2013 2012 2011 2010
0.112335 0.107577 0.118206 0.135128 0.122387 0.16639
0
0.02
0.04
0.06
0.08
0.1
0.12
0.14
0.16
0.18
2015 2014 2013 2012 2011 2010

14.  Total debt to equity ratio = Total debt / Total equity
2015 2014 2013 2012 2011 2010
2.479105 2.645279 2.903274 2.961704 3.329563 3.060246
0
0.5
1
1.5
2
2.5
3
3.5
2015 2014 2013 2012 2011 2010

15.  Equity multiplier = Total assets / Shareholder’s equity
2015 2014 2013 2012 2011 2010
3.479105 3.645279 3.903274 3.961704 4.329563 4.060246
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
5
2015 2014 2013 2012 2011 2010

16.  Long term debt to net working capital = Long term debt /
(Current assets – Current liabilities)
2015 2014 2013 2012 2011 2010
3.704188 2.933566 3.760187 -24.481 5.917257 -10.841
-30
-25
-20
-15
-10
-5
0
5
10
2015 2014 2013 2012 2011 2010

17.  Operating return on assets = Operating income / Total
assets
Return Ratios
2015 2014 2013 2012 2011 2010
0.084897 0.109519 0.100061 0.077548 0.129158 0.11321
0
0.02
0.04
0.06
0.08
0.1
0.12
0.14
2015 2014 2013 2012 2011 2010

18.  Return on assets = Net income / Total assets
2015 2014 2013 2012 2011 2010
0.024253 0.050862 0.033558 -0.01357 0.058636 0.032708
Series1
-0.02
0
0.02
0.04
0.06
2015 2014 2013 2012
2011
2010

19.  Return on equity = Net income / Shareholder’s equity
2015 2014 2013 2012 2011 2010
0.084378 0.185408 0.130987 -0.05374 0.25387 0.132804
-0.1 0 0.1 0.2 0.3
2015
2014
2013
2012
2011
2010

20.  Profit after tax to profit before tax = Profit after tax / Profit
before tax
Other Ratios
2015 2014 2013 2012 2011 2010
0.772274 0.825412 0.835035 169.629 0.778207 0.674265
0
20
40
60
80
100
120
140
160
180
2015 2014 2013 2012 2011 2010

21.  Net profit to gross profit = Net income / Gross income
2015 2014 2013 2012 2011 2010
0.099262 0.206624 0.149673 -0.06896 0.258603 0.150506
Series1-0.1
0
0.1
0.2
0.3
2015 2014 2013 2012 2011 2010

22.  Current assets to total assets = Current assets / Total
assets
2015 2014 2013 2012 2011 2010
0.630561 0.654767 0.657035 0.606936 0.667326 0.571971
0.5 0.55 0.6 0.65 0.7
2015
2014
2013
2012
2011
2010

23.  Non-current assets to total assets = Non-current assets /
Total assets
2015 2014 2013 2012 2011 2010
0.369439 0.345233 0.342965 0.393064 0.332674 0.428029
0
0.05
0.1
0.15
0.2
0.25
0.3
0.35
0.4
0.45
2015 2014 2013 2012 2011 2010