...Introduction In our project we have choose two companies that are engaged in cement manufacturing. They are i) Lafarge Surma Cement Ltd. and ii) Meghna Cement Mills Ltd. As per requirement, we have conducted ratio analysis and given interpretation. We chose Lafarge Cement Ltd as our main company and Meghna Cement Mills Ltd. as our benchmark company. Before telling the reasons behind this decision, we would like to give some brief information on these two companies. Brief review of Lafarge Surma Cement Ltd. Lafarge Surma Cement Ltd. (LSC) was incorporate on 11 November 1997 as a private limited company in Bangladesh under the company Act 1994 having its registered office in Dhaka. On 2003, Lafarge Surma Cement Ltd. was made into a public limited company. The company is listed in Dhaka and Chittagong stock exchange. Today, Lafarge Surma Cement Ltd has more than 11,000 shareholders having more than 58 million shares outstanding. The company contributes with some USD 50-60 million per annum worth of foreign currency savings for the country by supplying clinker to other cement producers in the market. The company also contributes BDT 1 billion per annum as govt. revenue to the national exchequer of Bangladesh. About 5,000 people depend on this company directly or indirectly for their livelihood. Brief Review of Meghna Cement Mills Ltd. Meghna Cement Mills Ltd. (MCM) was incorporate on March 1992 and started their production on January 1996. The company was listed in Dhaka...
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...A Report on the Ratio Analysis of Lafarge Surma Cement Ltd. Date of submission: 18/08/2015 Course: FIN254.15 Prepared for: Ahmed Ameya Prapan Lecturer, School of Business, North South University. Prepared By: Ifraha Fairuz Binte Ilias ID# 142 0352 030 Afsara Afia ID# 142 0025 030 Asma-ul-Husna ID# 132 0374 030 Ashrafur Rahman ID# 132 0309 030 Table of Contents Title | Page No. | Introduction | 04 | Ratio Analysis | 05-39 | Time Series Analysis | 05-21 | Liquidity Ratio | 05-07 | Activity Ratio | 07-11 | Debt Ratio | 12-13 | Profitability Ratio | 14-18 | Market Ratio | 19-21 | Cross sectional Analysis | 22-38 | Liquidity Ratio | 22-23 | Activity Ratio | 24-28 | Debt Ratio | 29-30 | Profitability Ratio | 31-35 | Market Ratio | 36-38 | All over Performance at a Glance | 39 | Free Cash Flow | 40 | DuPont & Extended DuPont System | 41-42 | Conclusion | 43 | Introduction Ratio analysis is a method of analyzing data to determine the overall financial strength of a business. Ratio analysis is based on line items in financial statements like the balance sheet, income statement and cash flow statement;...
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...Summary Cement industry of Bangladesh is in its growth stage. The industry is developing day by day. Lafarge Surma Cement Limited is one of the major producers of quality cement in Bangladesh. As per the course requirement we are told to conduct the fundamental analysis of Lafarge Surma Cement Limited. The company is a listed company and its shares are traded in the capital market. We have collected the annual reports of last couple of years and from the data we have prepared the proforma income statement, free cash flow and then ultimately the valuation of the company’s share. We have shown the market strategy of the company. They prefer differentiation that is high price for high quality. The industry life cycle indicates that Cement industry is in its growth stage. We have shown the competitive forces along with Michael Porter’s five force model. Competitive advantage and disadvantages are described there. Then the ratio analysis gives us the performance of the company. Then the prospective analysis gives us the intrinsic value of the company’s share, which is 16.79 Tk. whereas on 31 December, 2012 the market price was around 32 Tk. We have confirmed our valuation with the help of Sensitivity, Scenario and Simulation analysis. After the valuation we have found that the share is priced higher than the intrinsic value. That means the share is Overpriced. Holders of the share should sell the share or should take a short position of Lafarge surma’s’s share. Analysis of the performance...
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...STAMFORD UNIVERSITY BANGLADESH Assignment On: Capital Structure Analysis of Lafarge Surma Cement Limited Course Title: Finance Theory Course Code: FIN -608 Submit To Mohammad Salahuddin Chowdhury, ACA Assistant Professor, Dept. of Finance, University of Dhaka Submit By Md. Jahidul Islam; ID: MBA-05014570 Jabun Nahar; ID: MBA 05014443 Rajib Kumar Saha; ID: MBA 05014533 Date of submission 17th April 2013 Letter of Transmittal April 17, 2013 Mohammad Salahuddin Chowdhury, ACA Assistant Professor, Dept. of Finance, University of Dhaka Subject: Submission of Assignment titled “Capital Structure Analysis of Lafarge Surma Cement Limited”. Dear Sir, This is informing you that I have done this assignment on “Capital Structure Analysis of Lafarge Surma Cement Limited”. It is a great pleasure for me to present you such type of assignment. To prepare this assignment I collect essential data. I learnt a lot of unknown issues of direct Marketing, while preparing this assignment. This assignment was a challenging experiences for us a theoretical as well as practical. I tried my best to make the assignment a sound one as per your valuable counseling and proper guidance. I express our gratitude to you for giving us the opportunity to making this assignment. I would be obliged if you kindly call me for any explanation or any query about the assignment as and when deemed necessary. Within the time limit, I have tried my best to compile the pertinent information as comprehensively...
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...| Financial Statement analysis and ValuationHeidelberg Cement Bangladesh Limited | | 7/22/14 | F401 | | ------------------------------------------------- Course Instruction Financial Statement Analysis and Valuation F-401 ------------------------------------------------- Submitted to Dr. Mahmood Osman Imam Professor Department of Finance University of Dhaka ------------------------------------------------- Submitted by Md. Faraz Hassan 17-026 ------------------------------------------------- Member of Section: B BBA 17th BATCH Department of Finance University of Dhaka Submission Date: 22-July-2014 Letter of transmittal 22 July, 2014 Dr.Mahmood Osman Imam Professor Department of Finance University of Dhaka Subject: Submission of the report ‘Financial Statement Analysis on ‘’Heidelberg Bangladesh Cement Ltd.’’ Dear Sir, As per the requirements of the course, Financial Statement Analysis and Valuation (F-401) offered at Department of Finance, University of Dhaka under your supervision, I submit here my report on ‘Financial Statement Analysis of Heidelberg Bangladesh CementLtd’ that you assigned me to prepare. My final report is based on data from various sources and basis on our findings. I believe that the knowledge and experience that I gained will be of great importance both for future courses and work lives. I would also like to state that the sole purpose of creating the report is for the completion of the course...
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...Term Paper On Financial Statements Analysis Between HeidelbergCement Bangladesh Ltd & Lafarge Surma Cement Submitted To Dr. Sujit Saha Former Professor & Director Bangladesh Institute of Bank Management Submitted by SL. No Name ID 1 Md.Rashedul Imam EMBA 2013-2-91-022 2 Md.Monzurul Alam EMBA 2013-2-91-023 3 Md. Kazi Mashiur Rahman EMBA 2013-2-91-038 4 Md. Asaduzzaman EMBA 2013-2-91-019 Course Code : EMBA_561 Course Title : Financial Analysis for Managers Submission Date : June 20, 2014 Semester : Summer 2014 Letter of Transmission Date: June 20, 2014 Prof. Sujit Saha, Ph.D Former Professor & Director Bangladesh Institute of Bank Management Course Code: EMBA_561 East West University Subject: Submitting the report on Financial Analysis on HeidelbergCement Bangladesh Ltd. & Lafarge Surma cement Ltd. of Bangladesh. Dear Sir, We are glad to submit our report on the specific as you have assigned us to prepare a report as a partial requirement of the course. Now we are looking forward to your kind appraisal regarding this report. The report reviews on Current Financial Analysis on HeidelbergCement Bangladesh Ltd. & Lafarge Surma cement Ltd Bangladesh We are very pleased to prepare this report and we expect that it provides us a overall concept on current economic condition. It...
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...University of Dhaka Department of International Business Course Code: IB-522 Term Paper on ―Merger of Equals of LafargeHolcim Cement Limited‖ Prepared by Asmina Akter; ID-35 Mohoan Chowdhury; ID-46 S. M. Yusuf Mallick; ID-71 Md. Harun-Ur-Rashid; ID-73 Supervisor Suborna Barua Assistant Professor Department of International Business University of Dhaka Date of Submission: 01.07.15 1|Page Letter of Transmittal 1st July, 2015 The Course Instructor Suborna Barua Department of International Business University of Dhaka Subject: An application for acceptance a term paper on “Merger of Equal of LafargeHolcim Cement Limited” Dear Sir, It is a great pleasure to submit you a term paper on ―Merger of Equal of LafargeHolcim Cement LTD‖. This paper is prepared to learn the motives, process, integration and result of merger of Lafarge and Holcim two giant cement company. We request you to excuse us for any mistake that may occur in the paper despite of our best effort. We believe that you will view all mistakes with your generous consideration. Yours sincerely Asmina Akter, ID-35 Mohoan Chowdhury; ID-46 S. M. Yusuf Mallick; ID-71 Md. Harun-Ur-Rashid; ID-73 Department of International Business (MBA 7th Batch) University of Dhaka 2|Page Executive Summary Corporate restructuring is becoming popular day by day and merger and acquisitions are being considered as the big steps towards corporate restructuring. Being a part of strategic ...
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...03 Heading: Overall financial analysis of cement industry | Hidelberg Cement Ltd. [081138020] | | 2006 | 2007 | 2008 | GROWTH | STD | AVG | Liquidity Ratio | | | | | | | NWC to assets | -0.05 | 0.01 | 0.11 | 3.21 | 0.08 | 0.02 | Current ratio | 0.87 | 1.03 | 1.27 | 0.21 | 0.20 | 1.06 | Quick ratio | 0.37 | 0.67 | 0.58 | 0.33 | 0.15 | 0.54 | Cash ratio | 0.06 | 0.40 | 0.32 | 2.96 | 0.18 | 0.26 | Interval measure | 851.40 | 1637.28 | 1499.92 | 0.42 | 419.74 | 1329.53 | CCC | -1.26 | -17.99 | 36.53 | 5.11 | 27.93 | 5.76 | | | | | | | | Leverage Ratio | | | | | | | Long term debt ratio | 0.08 | 0.05 | 0.05 | -0.16 | 0.01 | 0.06 | Debt equity ratio | 0.08 | 0.06 | 0.05 | -0.17 | 0.02 | 0.06 | Total debt ratio | 0.44 | 0.45 | 0.44 | 0.00 | 0.00 | 0.44 | TIE | 6.77 | 12.87 | 11.26 | 0.39 | 3.16 | 10.30 | Cash coverage ratio | 17.33 | 30.95 | 29.03 | 0.36 | 7.37 | 25.77 | | | | | | | | Efficiency Ratio | | | | | | | Total asset turnover | 1.21 | 1.09 | 1.08 | -0.05 | 0.07 | 1.13 | NWC turnover | -23.96 | 86.88 | 9.97 | -2.76 | 56.79 | 24.30 | Inventory turnover | 6.35 | 6.51 | 3.54 | -0.22 | 1.67 | 5.47 | Day's sales in inventory | 57.52 | 56.03 | 103.14 | 0.41 | 26.78 | 72.23 | AVG collection period | 37.80 | 37.56 | 35.02 | -0.04 | 1.54 | 36.79 | | | | | | | | Profitability ratio | | | | | | | Net profit margin | 0.10...
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...Issue Date | Effective Date | Subject | 16-Jul-15 | 01-Aug-15 | Panel of Auditors of BSEC | 14-Jul-15 | 21-Jul-15 | BSEC makes amendments of Directive No. BSEC/Surveillance/2014-0840/683 dated July 14, 2015 | 08-Jul-15 | 08-Jul-15 | Amendment of the Order No. SEC/CMRRCD/2009-193/104/Admin/26 dated July 27, 2011 | 08-Jul-15 | 08-Jul-15 | Conversion guideline for close-end to open-end mutual fund | 30-Jun-15 | 30-Jun-15 | Order for Extension of Suspension of Rule 3(5) of the Margin Rules 1999 | 30-Jun-15 | 30-Jun-15 | Regarding the maintenance of provision against unrealized losses arising from investment in mutual fund units | 22-Jun-15 | 22-Jun-15 | Gazette of Bangladesh Securities and Exchange Commission (Alternative Investment) Rules, 2015 | 11-Jun-15 | 11-Jun-15 | Exemption to the foreign owned companies and the joint venture companies with foreign investment form the compliance of the Commission's Notification No. SEC/CMRRCD/2006-159/36/Admin/03-44 dated May 5, 2010 | 14-May-15 | 14-May-15 | Directive regarding distribution of dividend, fractional bonus share and rights share to the margin accountholders of the stock brokers | 13-May-15 | 17-May-15 | Order regarding circuit breaker (here it is given the upward and downward price limit of the reference price) | 04-Mar-15 | 04-Mar-15 | Repeal Directive No. SEC/SRMIC/2007-18/1178/270 dated October 12, 2011 | 02-Feb-15 | 02-Feb-15 | IPO approval Procedure | 27-Jan-15 | 27-Jan-15 | Directive No. BSEC/Enforcement/2137/2014/20 dated...
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...Letter of Transmittal September 25, 2012 The Supervisor Roushan Ara Sultana Assistant Professor Faculty of Business Administration University of Science & Technology Chittagong (USTC) Subject: Submission of BBA Internship Report on “Analysis of the Cement Industries of Bangladesh in respect to Royal Cement Limited.” Dear Madam, It is indeed, a great pleasure for me to be able to submit my internship report on “Analysis of the Cement Industries of Bangladesh in respect to Royal Cement Limited” I expect this report to fulfill the requirements of my internship program (BBA) at Royal Cement Limited. I have given my best effort in preparing this report and top makes it a worthy one. In order to prepare this report I have gathered some practical knowledge about Royal Cement Limited, which will assist me to incorporate my professional life and will enrich my real of knowledge. My each aspect of the topic is tried to cover as required and as per direction. I would like to take this opportunity to thank you for all the help that you extended throughout the writing of this report. I fervently hope that you will find this report worth reading. If you have any queries regarding this report, you are welcome to contact me. Sincerely Yours Pappu Kumar Banik Roll No: - 697, Reg. No: - 671 (BBA) 23rd Batch Faculty of Business Administration University of Science and Technology Chittagong (USTC) Page | 1 University of Science and Technology Chittagong Acknowledgements First of all,...
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...PERSONAL ACCIDENT AND HEALTH INSURANCE OF Course Name: Principles of Insurance Course Code: F-210 Submitted to: Samia Sultana Tani Assistant Professor, Department of Finance, Faculty of Business Studies, University of Dhaka. Submitted by: Group No: Section :B B.B.A 17th Batch Department of Finance University of Dhaka. Date of Submission: 27 November, 2012. A Combined Effort of Sl No. | Name | ID-No. | Remarks | 01 | Rakibul Islam | 17-052 | | 02 | Ivy Akhter | 17-046 | | 03 | Mousumi Saha | 17-154 | | 04 | Morium Sultana Moni | 17-104 | | 05 | Nipul Hosen | 17-058 | | 06 | ShantaDev | 17-086 | | 07 | ShamsunNaher | 17-112 | | 08 | Emaj Sultana | 17-062 | | 09 | FatemaTujJuhura | 17-156 | | 10 | SadiaSharminUrmi | 17-192 | | Letter of Transmittal 27 November, 2012 Samia Sultana Tani Assistant Professor Department of Finance Faculty of Business Studies University of Dhaka Subject: Submission of the Report. Dear Madam, It gives us immense pleasure to submit the report on “personal accident and health insurance of pragati insurance limited” This report is submitted as the requirement to fulfill the course “Principles of insurance”. The experience that we gathered through this research was very interesting, joyful and valuable one. This is an ideal ground for...
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...AUDITOR’S REPORT & AUDITED FINANCIAL STATEMENTS OF FIRST SECURITY ISLAMI BANK LIMTED FOR THE YEAR ENDER 31 DECEMEBER 2011 AUDITORS’ REPORT First Security Islami Bank Limited We have audited the accompanying consolidated financial statements of First Security Islami Bank Limited (FSIBL) and its subsidiary as well as the financial statements of First Security Islami Bank Limited (FSIBL) which comprise the balance sheet as at 31 December 2011 and the income statement, cash flow statement, statement of changes in equity and liquidity statement for the period then ended and a summary of significant accounting policies and other explanatory notes. TO THE SHAREHOLDERS OF Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these consolidated and separate financial statements in accordance with Bangladesh Financial Reporting Standards (BFRS), Bank Companies Act 1991, the rules and regulations issued by the Bangladesh Bank, the Companies Act 1994, the Securities and Exchanges Rules 1987 and other applicable laws and regulations. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances...
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...Securities and Exchange Commission, Bangladesh ANNUAL REPORT 2010-2011 1 SECURITIES AND EXCHANGE COMMISSION ANNUAL REPORT 2010-2011 Jiban Bima Tower (15th , 16th & 20th Floor) 10, Dilkusha Commercial Area Dhaka-1000, Bangladesh Phone: 9568101-2, 9561525 Website: http://www.secbd.org E-mail: secbd@bdmail.net Fax: (88)-02-9563721 Securities and Exchange Commission 2 SECURITIES AND EXCHANGE COMMISSION ANNUAL REPORT 2009-2010 CONTENTS INSIDE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Chairman’s Statement Economic Indicators of Bangladesh Capital Market Over the World Bangladesh Capital Market Capital Market Regulatory Reforms and Compliance Listing in Stock Exchanges Capital Issue Corporate Finance Registration Mutual Fund and SPV Surveillance Supervision and Regulation of Markets and Issuer Companies Supervision and Regulation of Intermediaries Central Depository Enforcement Law Management Information Systems Research & Development Bangladesh Institute of Capital Market Future Planning Financial Statements of the Commission Annexure Commission and the Commission’s Officers PAGE 04 06 09 11 16 26 28 30 32 36 38 39 47 49 50 50 50 51 52 52 53 54 86 3 1. Chairman’s Statement Securities and Exchange Commission (SEC) was established on 8 June 1993 through enactment of the Securities and Exchange Commission Act, 1993. The objectives of the SEC are to develop the securities markets and to frame necessary rules and regulations of capital...
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...Securities and Exchange Commission, Bangladesh ANNUAL REPORT 2010-2011 1 SECURITIES AND EXCHANGE COMMISSION ANNUAL REPORT 2010-2011 Jiban Bima Tower (15th , 16th & 20th Floor) 10, Dilkusha Commercial Area Dhaka-1000, Bangladesh Phone: 9568101-2, 9561525 Website: http://www.secbd.org E-mail: secbd@bdmail.net Fax: (88)-02-9563721 Securities and Exchange Commission 2 SECURITIES AND EXCHANGE COMMISSION ANNUAL REPORT 2009-2010 CONTENTS INSIDE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Chairman’s Statement Economic Indicators of Bangladesh Capital Market Over the World Bangladesh Capital Market Capital Market Regulatory Reforms and Compliance Listing in Stock Exchanges Capital Issue Corporate Finance Registration Mutual Fund and SPV Surveillance Supervision and Regulation of Markets and Issuer Companies Supervision and Regulation of Intermediaries Central Depository Enforcement Law Management Information Systems Research & Development Bangladesh Institute of Capital Market Future Planning Financial Statements of the Commission Annexure Commission and the Commission’s Officers PAGE 04 06 09 11 16 26 28 30 32 36 38 39 47 49 50 50 50 51 52 52 53 54 86 3 1. Chairman’s Statement Securities and Exchange Commission (SEC) was established on 8 June 1993 through enactment of the Securities and Exchange Commission Act, 1993. The objectives of the SEC are to develop the securities markets and to frame necessary rules and regulations of capital...
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...CHAPTER-1 INTRODUCTION Stock exchange play a pivotal rate in the economic development of under developed developing and least developed countries like Bangladesh. It contributes to the development of economy through the development of business and industries. It can perform well to meet financial needs of business enterprises on a continuous basis. Stock market in considered to be parameter of the economy. It is mechanism to flow fund from the hands of small savers (Individual and Institution) at low costs of those entrepreneurs who do need fund to start business an to expend capacity of existing business as to add new line of business. In other words, this capital market mechanism gives a part ownership of by companies to small savers scheme to share ownership of economic development with general public. Stock refers to shares bands. Debentures, mutual funds, derivates and future and option. Market refers to the way of exchanging assets usually cash for smoothing of value. So, we can say in a word, stock market in a market for trading products of stock market. Stock exchange is an independent company formed by shareholders members. It can take various decision independently the objectives of stock exchanges are to protect the interests of the investors and promote just and equitable principles of trade. The Chittagong Stock Exchange has been established in 1995 as a model of International Standard. Considering the import role of Chittagong Stock Exchange in the development...
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