2010 2009 2008 2007

Liquidity Ratio
Average COGS per day 8,202 11,328 8,649 7,126
Avg Investory 1,029,436 910,131 560,118 321,160
DIO 126 80 65 45

Average Sales per day 14839.605 17879.56 13981.48 9648.501

Average Receivables 1,890,501 2,275,692 2,094,344 1,638,235
DS0 127 127 150 170

Average Payable 367,862 533,977 548,008 306,236

DPO 45 47 63 43

CCC 208 160 151 172

PROFITABILITY INDICATORS
GROSS PROFIT MARGIN 45% 37% 38% 26%
Effective Tax Rate 12% 10% 17% 11%
PAT MARGIN 28% 25% 22% 15%

ROA 27% 34% 30% 18%

ROE 32% 47% 51% 29%
ROCE 31% 46% 49% #DIV/0!

DEBT RATIOS
 2010 2009 2008 2007
Sales 5,416,456 6,526,040 5,103,240 3,521,703
COGS -2,993,710 -4,134,764 -3,156,854 -2,600,836

Gross Profit 2,424,756 2,393,285 1,948,394 922,874

Gross Profit Margin 45% 37% 38% 26%

Other Income 57,134 160,031 113,695 109,462

Expense 761,440 762,436 686,628 445,822

PBT 1,720,450 1,790,880 1,375,461 586,514

Tax -203,756 -177,548 -228,506 -66,656
(0.12) (0.10) (0.17) (0.11)
PAT 1,516,694 1,613,332 1,146,955 519,858
PAT MARGIN 28% 25% 22% 15%

EPS 0.76 0.8 1.145 0.518

 2010 2009 2008 2007
Property, plant and equipment 3 1,019,556 1,007,493 707,505 403,523
Goodwill 579,717 579,717 579,717 579,717
Defferred Tax 1,512

Total non-current assets 1,601,283 1,589,219 1,289,230 986,759

Inventories 1,037,685 1,021,187 799,075 321,160

Accounts and other receivables 1,780,069 2,000,932 2,550,452 1,638,235
Bank balances and cash 1,732,624 278,172 17,573 8,528

Total current assets 4,550,378 3,300,291 3,367,100 1,967,923

Total assets 6,151,661 4,889,510 4,656,330 2,954,682

Share capital 2,000,000 1,000,000 1,000,000 1,000,000

Legal reserve 484,801 333,333 268,611 154,116
Special reserve 300,000 210,000 150,000 90,000
Retained earnings 2,601,012 2,577,796 1,341,195 520,743

Total Shareholders’ equity 5,385,813 4,121,129 2,759,806 1,764,859

Deferred tax 71,294 67,421 66,421

Non-current portion of term loan 68,108 22,473
Non-current portion of vehicle finance 36,341 23,577 14,863
Employees’ end of service benefits 71,816 57,088 57,242 35,198

Total non-current liabilities 143,110 228,958 169,713 50,061

Accounts and other payables 457,550 278,174 789,780 306,236

Current portion of term loan 67,878 44,940 36,325
Current portion of vehicle finance 14,814 8,652 4,678
Bank Borrowing 720,858 747,863
Taxation 163,178 176,548 160,573 42,653

Total current liabilities 620,728 537,414 1,724,803 1,137,755

Total liabilities 763,838 766,372 1,894,516 1,187,816

Total equity and liabilities 6,149,651 4,887,501 4,654,322 2,952,675

Net assets per share 2.693 4.121 2.76 1.765