analysis blackmores

7/23/2019 Analysis Blackmores

1/20

Proftability 2010-06 2011-06 2012-06 2013-06 2014-06

Net Margin % 11.3 11.65 10.66 7.65 7.33

Asset Turnover (Average) 1.47 1.52 1.59 1.61 1.48

eturn on Assets % 16.59 17.76 16.96 12.3 10.87

!inan"ia# $everage (Average) 2.15 1.94 2.03 2.36 2.27

eturn on &uit' % 37.28 36.19 33.62 27.1 25.14

eturn on nveste *a+ita# % 23.15 24.21 23.77 18 15.98nterest *overage 15.22 17.58 14.36 7.89 7.81

Liquidity & Financial Health

*urrent atio 2.41 2.36 2.41 2.75 2.26

,ui" atio 1.68 1.6 1.58 1.82 1.54

!inan"ia# $everage 2.15 1.94 2.03 2.36 2.27

e/t&uit' 0.66 0.51 0.52 0.89 0.7

Eciency

a's a#es utstaning 63.6 61.91 67.67 65.74 70.8

a's nventor' 46.48 56.05 60.89 58.1 59.76

a'a/#es erio 26.69 25.55 26.59 30.22 37.25*as *onversion *'"#e 83.4 92.41 101.96 93.62 93.31

e"eiva/#es Turnover 5.74 5.9 5.39 5.55 5.16

nventor' Turnover 7.85 6.51 5.99 6.28 6.11

!ie Assets Turnover 3.22 3.58 3.97 4.91 5.34

Asset Turnover 1.47 1.52 1.59 1.61 1.48


2/20

2014-12

8.33

1.64

13.64

2.27

31.57

19.4310.04

2.26

1.54

2.27

0.7

64.01

57.78

36.0185.77

5.7

6.32

5.9

1.64


3/20

Proftability 2009-03 2010-03 2011-03 2012-03 2013-03

Net Margin % 8.82 8.72 10.24 11 9.7


eturn on Assets % 27.9 22.64 25.96 24.86 21.32


eturn on &uit' % 41.59 31.81 36.96 35.43 31.24

eturn on nveste *a+ita# % 40.26 31.74 36.88 35.29 31.14nterest *overage 733.6 897.53

Liquidity/Financial Health

*urrent atio 1.39 1.78 1.87 2.39 1.76

,ui" atio 0.54 0.94 1.12 1.66 1.14

!inan"ia# $everage 1.4 1.41 1.44 1.41 1.52

e/t&uit'

Eciency

a's a#es utstaning 4.06 2.3 2.11 1.79 2.64

a's nventor' 100.88 114.37 127.5 115.75 119.9

a'a/#es erio 25.79 23.42 25.84 23.63 23.69*as *onversion *'"#e 79.15 93.25 103.77 93.91 98.85


nventor' Turnover 3.62 3.19 2.86 3.15 3.04


Asset Turnover 3.55 3.16 2.6 2.53 2.26


4/20

2014-03

9.85

2.29

22.5

1.44

31.88

31.8998.41

2.17

1.34

1.44

2.89

119.89

22.4100.38

126.29

3.04

12.13

2.2


5/20

Proftability 2010-12 2011-12 2012-12 2013-12 2014-12

Net Margin % 10.88 12.23 12.5 13.07 11.67


eturn on Assets % 23.85 28.68 31.13 32.86 28.88


eturn on &uit' % 34.9 44.63 47.45 47.17 42.87

eturn on nveste *a+ita# % 34.9 44.63 47.45 47.17 42.87nterest *overage 10.37 18.61 16.13 22.61 27.17

Liquidity/Financial Health

*urrent atio 1.99 1.88 2.33 2.62 2.18

,ui" atio 1.47 1.28 1.69 1.94 1.54

!inan"ia# $everage 1.52 1.59 1.47 1.4 1.57

e/t&uit' 0.13 0.06 0.05 0.06 0.07

Eciency

a's a#es utstaning 9.02 11.93 12.37 13.56 12.51

a's nventor' 45.21 46.47 45.63 42.61 45.55

a'a/#es erio 73.67 78.56 68.05 59.33 64.42*as *onversion *'"#e -19.45 -20.16 -10.05 -3.16 -6.37


nventor' Turnover 8.07 7.85 8 8.57 8.01


Asset Turnover 2.19 2.35 2.49 2.51 2.48


6/20

TTM

11.53

2.72

31.36

1.74

51.31

51.3123.93

1.9

1.51

1.74

0.08

7.43

30.49

67.89-29.98

49.14

11.97

14.08

2.72


7/20

PROFITABILIT !"#" !"## !"#! !"#$

Net Margin %

#a"ores 11.3 11.65 10.66 7.65

sana 8.82 8.72 10.24 11

Aa' 10.88 12.23 12.5 13.07

!"#" !"## !"#! !"#$

eturn on Assets %

#a"ores 16.59 17.76 16.96 12.3

sana 27.9 22.64 25.96 24.86

Aa' 23.85 28.68 31.13 32.86

!"#" !"## !"#! !"#$

eturn on nveste *a+ita# %

#a"ores 23.15 24.21 23.77 18

sana 40.26 31.74 36.88 35.29

Aa' 34.9 44.63 47.45 47.17

2010 2011 2012 200

10

20

30

40

50

60

70

80

16.59 17.76 16.9612

27.922.64

25.9624.

23.85 28.6831.13

32.

%rah !' Return on A((et(

Percenta*e +),

2010 2011 2012

##-$ ##-3.#"-33

1-1! 1-0!

#"-!#"-11

#!-!$ #!-.

%rah #' 6et 7ar*in )

#a"ores sana Aa'


8/20

LI89I:IT !"#" !"## !"#! !"#$

*urrent atio#a"ores 2.41 2.36 2.41 2.75sana 1.39 1.78 1.87 2.39

Aa' 1.99 1.88 2.33 2.62

!"#" !"## !"#! !"#$

,ui" ratio

#a"ores 1.68 1.6 1.58 1.82

sana 0.54 0.94 1.12 1.66

Aa' 1.47 1.28 1.69 1.94

2010 2011 2012 20130

20

40

60

80

100

120

!$-#. !-!# !$-00#1

"-!3$#-0

$3-11$.-!2

$-2 -3$0-.

0-#0

%rah $' Return on In4e(ted 5a

Percenta*e +),

2010 2011 2012 20130

1

2

3

4

5

6

7

8

9

!-# !-$3 !-#!-0.

#-$2#-01 #-10

!-$2

#-22 #-11!-$$

!-3!

%rah ' 5urrent Ratio

Ratio +5L' 5A,

2.5

%rah ' 8uic; Ratio


9/20

!"#" !"## !"#! !"#$

!inan"ia# $everage

#a"ores 2.15 1.94 2.03 2.36

sana 1.4 1.41 1.44 1.41

Aa' 1.52 1.59 1.47 1.4

EFFI5IE65 !"#" !"## !"#! !"#$

a's a#es utstaning

#a"ores 63.6 61.91 67.67 65.74

sana 4.06 2.3 2.11 1.79

Aa' 9.02 11.93 12.37 13.56

2010 2011 2012 20130

0.5

1

1.5#-31 #-3 #-.1

#-1!

"-.

"-2#-#!

#-33#-0

#-!1

#-32

-

Ratio +5L' 5A,

2010 2011 2012 20130

1

2

3

4

5

6

!-#.#-2 !-"$

!-$3

#-#-# #-

#-#

#-.! #-.2 #-0#-

%rah 3' Financial Le4era*

Ratio +:ebt to 5aital,

30

40

50

60

70

80

90

100

3$-3

61.91

30-30 3.-0

4.062.3

2.11 1.79 2.62-"! ##-2$#!-$0 #$-.3

%rah 0' :ay(


10/20

!"#" !"## !"#! !"#$

nventor' a's#a"ores 46.48 56.05 60.89 58.1sana 100.88 114.37 127.5 115.75

Aa' 45.21 46.47 45.63 42.61

!""2 !"#" !"## !"#!

a'a/#e a's

#a"ores 26.69 25.55 26.59 30.22

sana 25.79 23.42 25.84 23.63

Aa' 73.67 78.56 68.05 59.33

2010 2011 2012 20130

10

20

2010 2011 2012 20130

20

40

60

80

100

120

140

46.4856.05

60.89 58.1

100.88

114.37

127.5115.75

45.21 46.47 45.63 42.61

%rah 1' In4entory :ay(

6o- o= :ay(

2009 2010 2011 20120

10

20

30

40

50

60

70

80

90

26.69 25.55 26.59 30.22

25.79 23.42 25.84 23.63

73.6778.56

68.05

59.33

%rah 2' Payable :ay(

6o- o= :ay(


11/20

!"#

7.33

9.7

11.67

!"#

10.87

21.32

28.88

!"# !"#

15.98 19.43

31.14 31.8

42.87 51.31

13 2014

.3 10.87

8621.32

86

28.88

Aa'

sana

#a"ores

2013 2014

7.65

0-$$

##

2-0

13.07

##-30


12/20

!"# !"#

2.26 2.261.76 2.17

2.18 1.9

!"# !"#

1.54 1.54

1.14 1.34

1.54 1.51

2014 2014

#.-21 #2-$

$#-#$#-1

!-10

.#-$#

ital )

Aa'

sana

#a"ores

014 2014

!-!3 !-!3

#-03!-#0

!-#1 #-2 Aa'

sana#a"ores


13/20

!"# !"#

2.27 2.27

1.52 1.44

1.57 1.74

!"# !"#

70.8 64.01

2.64 2.89

12.51 7.43

2014 2014

#-. #-.

#-##-$

#-. #-.#

#a"ores

sana

Aa'

2014 2014

!-!0 !-!0

#-.! #-

#-.0 #-0

e

Aa'

sana

#a"ores

0"-1 64.01!-12

#!-.#

0-$

n*

Aa'

sana

#a"ores


14/20

!"# !"#

59.76 57.78119.9 119.89

45.55 30.49

!"#$ !"#

37.25 36.01

23.69 22.4

64.42 67.89

014 2014

014 2014

59.76 57.78

119.9 119.89

45.55

30.49

#a"ores

sana

Aa'

013 2014

37.25 36.01

23.69 22.4

64.42 67.89

#a"ores

sana

Aa'


15/20

!"#! !"#$ !"# !"#.

Net Margin %

est *ase 10.66 7.65 7.33 7.10

Moerate *ase 8.76 8.49 7.93 6.74

:orst *ase 8.76 8.49 7.93 6.37

!"#! !"#$ !"# !"#.

eturn on Assets %

est *ase 16.96 12.3 10.87 10.76

Moerate *ase 16.96 12.3 10.87 10.22

:orst *ase 16.96 12.3 10.87 9.68

2012 2013 2014 20150

5

10

15

20

25

30

%rah "3 ' 6et

Percenta*e +),

2012 2013 2014 20150

10

20

30

40

50

60

%rah ##' Return

Percenta*e +),


16/20

!"#3 !"#0

6.89 6.67

6.19 5.69

5.54 4.81

!"#3 !"#0

10.66 10.55

9.61 9.03

8.61 7.67

2016 2017

ar*in )

:orst *ase

Moerate *ase

est *ase

2016 2017

n A((et( )

:orst *ase

Moerate *ase

est *ase


17/20

AT TN AA

AT 5 -;A

< !NAN*A$ N*AT 2009 % *ange 2010 % *ange

1 Net Margin % 719 11.3 3.097345

2Asset Turnover (Average) 16.59 1.47 3.401361

3 eturn on Assets % 23.15 16.59 7.052441

4 !inan"ia# $everage (Average) 2.15 -9.7674425 eturn on &uit' % 1.68 37.28 -2.92382

6 eturn on nveste *a+ita# 2.15 23.15 4.578834

7 nterest *overage 63.6 15.22 15.50591


18/20

2011 % *ange 2012 % *ange 2013 Av. % *a 2014 Av. % *a

11.65 -8.497854 10.66 -28.2364 7.65 -6.727381 7.33 -8.072858

1.52 4.605263 1.59 1.257862 1.61 1.852897 1.48 2.223476

17.76 -4.504505 16.96 -27.47642 12.3 -4.985696 10.87 -5.982835

1.94 4.639175 2.03 16.25616 2.36 2.225578 2.27 2.67069436.19 -7.101409 33.62 -19.39322 27.1 -5.883689 25.14 -7.060427

24.21 -1.817431 23.77 -24.2743 18 -4.302578 15.98 -5.163094

17.58 -18.31627 14.36 -45.05571 7.89 -9.573213 7.81 -11.48786


19/20

*NA !*ATN=

est *ase - 5% ver ast Tren Moerate *ase - Maintain Tren

5% > Tren 2015 2016 2017 ?ee+ Tren 2015 2016 2017

-3.072858 7.10476 6.88644 6.67483 -8.072858 6.73826 6.194289 5.694233

7.223476 1.586907 1.701537 1.824447 2.223476 1.512907 1.546547 1.580934

-0.982835 10.76317 10.65738 10.55264 -5.982835 10.21967 9.60824 9.033395

7.670694 2.444125 2.631606 2.833469 2.670694 2.330625 2.392869 2.456775-2.060427 24.62201 24.11469 23.61782 -7.060427 23.36501 21.71534 20.18214

-0.163094 15.95394 15.92792 15.90194 -5.163094 15.15494 14.37247 13.63041

-6.487856 7.303298 6.829471 6.386385 -11.48786 6.912798 6.118666 5.415763


20/20

:orst *ase - 5% e#o Tren

5% e#o 2014 2015 2016

-13.07286 6.37176 5.538788 4.814711

-2.776524 1.438907 1.398956 1.360114

-10.98283 9.676166 8.613449 7.667448

-2.329306 2.217125 2.165481 2.11504-12.06043 22.10801 19.44169 17.09694

-10.16309 14.35594 12.89693 11.5862

-16.48786 6.522298 5.446911 4.548832

analysis blackmores

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