BSRM

Gross Profit Margin=Gross Profit/Net Revenue

31.12.2010
BDT 2,223,712,889
BDT 22,098,026,402
100.63%

Gross Profit
Net Revenue
Gross Profit Margin

31.12.2009
BDT 1,583,290,316
BDT 15,843,586,337
9.99%

31.12.2008
(BDT 1,311,367,578)
BDT 5,483,534,721
-23.91%

Fixed Assets Turnover Ratio= Net Revenue/Fixed Assets

31.12.2010
BDT 22,098,026,402
BDT 5,810,888,958
3.80:1
4.42 : 1

Net Revenue
Fixed Assets
Fixed Assets Turnover
Industry Average

31.12.2009
BDT 15,843,586,337
BDT 3,568,495,598
4.44:1
4.86 : 1

31.12.2008
BDT 5,483,534,721
BDT 3,579,943,268
1.53:1
4.224 : 1

Return on Assets (ROA)=Net Income/Total Assets

31.12.2010
BDT 1,073,667,253
BDT 15,000,819,461
7.16%

Net Income
Total Assets
Return on Assets (ROA)

Return on
Equity(ROE) =
Net Income
Preferred Dividends
Common Stockholders' Equity
Return On Equity(ROE)

31.12.2009
BDT 574,084,231
BDT 9,895,364,490
5.80%

31.12.2008
(BDT 1,899,094,620)
BDT 8,707,382,061
-21.81%

Net Income - Prefered Dividends/

Common Stockholders' Equity
31.12.2010
BDT 1,073,667,253
BDT 0
BDT 2,238,217,801
47.97%

31.12.2009
BDT 574,084,231
BDT 0
BDT 124,989,611
459.31%

31.12.2008
(BDT 1,899,094,620)
BDT 0
(BDT 449,094,620)
-422.87%

Net Profit Margin=Net Income/Net Revenue

Net Income
Net Revenue
Profit Margin

31.12.2010
BDT 1,073,667,253
BDT 22,098,026,402
4.86%

31.12.2009
BDT 574,084,231
BDT 15,843,586,337
3.62%

31.12.2008
(BDT 1,899,094,620)
BDT 5,483,534,721
-34.63%

Dividend Payout Ratio = Cash Dividends/Net Income

Cash Dividends
Net Income
Dividend Payout Ratio

31.12.2010
BDT 0
BDT 1,073,667,253
0

31.12.2009
BDT 0
BDT 574,084,231
0

31.12.2008
BDT 0
(BDT 1,899,094,620)
0

Debt to Total Equity Ratio(D/E Ratio) = Total Debt/ Total Equity

31.12.2010
BDT 12,702,162,597
BDT 2,298,656,864
552.59%
156.40%

Total Debt
Total Equity
Debt to Total Equity Ratio
Industry Average

31.12.2009
BDT 9,770,374,879
BDT 124,989,611
7817.00%
2071.27%

31.12.2008
BDT 9,156,476,681
(BDT 449,094,620)
2039.00%
639.37%

Book Value of Equity= Total Shareholders' Equity

31.12.2010
BDT 2,298,656,864
BDT 2,298,656,864

Total Shareholders' Equity

Book Value of Equity

31.12.2009
BDT 124,989,611
BDT 124,989,611

31.12.2008
(BDT 449,094,620)
(BDT 449,094,620)

Earnings Per Share = Net Income/ Number Of Shares Outstanding

31.12.2010
BDT 1,073,667,253
18,256,542
BDT 58.81

Net Income
Number of Shares Outstanding
Earnings Per Share

31.12.2009
BDT 574,084,231
14,500,000
BDT 39.59

31.12.2008
(BDT 1,899,094,620)
12,412,383
(BDT 153.00)

Total Assets Turnover Ratio= Net Revenue/Total Assets

31.12.2010
BDT 22,098,026,402
BDT 15,000,819,461
1.47:1
4.6:1

Net Revenue
Total Assets
Total Asset Turnover Ratio
Industry Average

31.12.2009
BDT 15,843,586,337
BDT 9,895,364,490
1.60:1
1.225:1

31.12.2008
BDT 5,483,534,721
BDT 8,707,382,061
0.63:1
1.16:1

Total Book Value of Debt= Total Liabilities (interest & non-interest bearing)
Total Interest Bearing Liabilities
Total Non-Interest Bearing Liabilities
Book Value of Debt

31.12.2010
BDT 3,024,324,619
BDT 9,677,837,978
BDT 12,702,162,597

31.12.2009
BDT 2,021,603,209
BDT 7,748,771,670
BDT 9,770,374,879

31.12.2008
BDT 2,363,913,383
BDT 6,792,563,298
BDT 9,156,476,681

Total Book Value= Book Value Equity+Book Value of Debt

Total Book Value of Equity
Total Book Value of Debt
Total Book Value of BSRM

31.12.2010
BDT 2,298,656,864
BDT 12,702,162,597
BDT 15,000,819,461

31.12.2009
BDT 124,989,611
BDT 9,770,374,879
BDT 9,895,364,490

31.12.2008
(BDT 449,094,620)
BDT 9,156,476,681
BDT 8,707,382,061

Market Value of (total interest bearing) debt= Total (interest bearing) Liabilites
Total (interest bearing) Liabilities
Market Value of debt

31.12.2010
BDT 3,024,324,619
BDT 3,024,324,619

31.12.2009
BDT 2,021,603,209
BDT 2,021,603,209

31.12.2008
BDT 2,363,913,383
BDT 2,363,913,383

P/E Ratio= Price per share/EPS

31.12.2010
BDT 2,118.50
BDT 58.81
36.02

Price per Share

Earnings per Share (EPS)
P/E Ratio

31.12.2009
BDT 1,021.50
BDT 39.59
25.80

31.12.2008
n/a
(BDT 153.00)
n/a

WACC= COST OF CAPITAL/TOTAL CAPITAL(Total long-term Debt + Total Equity)

Cost of Capital
Total Capital(Total Long-Term Debt + Total Equity)
WACC
Industry Average

31.12.2010
BDT 706,763,950
BDT 4,615,637,414
15.31%
23.158%

31.12.2009
BDT 822,966,545
BDT 1,731,246,096
47.54%
29.317%

31.12.2008
BDT 515,362,252
BDT 1,544,474,380
33.37%
27.50%

Net Working Capital= Current Assets-Current Liabilities

31.12.2010
BDT 9,189,930,503
BDT 10,385,182,047
(BDT 1,195,251,544)
BDT 728,071,210.30

Current Assets
Current Liabilities
Net Working Capital
Industry Average

31.12.2009
BDT 6,325,213,742
BDT 8,164,118,394
(BDT 1,838,904,652)
-BDT 284,981,202.300

31.12.2008
BDT 5,127,438,793
BDT 7,162,907,681
(BDT 2,035,468,888)
-BDT 1,138,741,874.000

Cash Conversion Cycle=ITOP+DSO-DPO

ITOP=Inventory Turnover Period
DSO=Daily Sales Outstanding
DPO=Days Payable Outstanding
CCC=Cash Conversion Cycle
Industry Average

31.12.2010
78.79 days
15.36 days
1.82 days
92.33 days
130.205 days

31.12.2009
83.39 days
17.32 days
1.69 days
99.02 days
135.045

31.12.2008
138.59 days
24.80 days
2.58 days
160.81 days
195.7

Market Value of Equity= Price per Share* Total Shares Outstanding

Price per Share
Total Shares Outstanding
Market Value of Equity

31.12.2010
BDT 2,119
18,256,542
BDT 38,676,484,875

31.12.2009
BDT 1,022
14,500,000
BDT 14,811,750,000

31.12.2008
n/a
12,412,383
n/a

Fair/Market Value of Total Company= Market Value of Euity+Market Value of Debt

Market Value of Equity
Market Value of Debt
Market Value of Total Company

31.12.2010
BDT 38,676,484,875
BDT 3,024,324,619
BDT 41,700,809,494

31.12.2009
BDT 14,811,750,000
BDT 2,021,603,209
BDT 16,833,353,209

31.12.2008
n/a
BDT 2,363,913,383
n/a

True Value of the Company = EBIT * PE Ratio

EBIT

31.12.2010
BDT 1,138,477,842

31.12.2009
BDT 1,409,163,947

31.12.2008
(BDT 1,386,651,659)

PE Ratio
True Value of the Company

BDT 36
BDT 409,852,202,310

BDT 26
BDT 36,638,262,620

NA
NA