ASSETS 2017 2016

NON-CURRENT ASSETS
Fixed assets
property, plant and equipment 8,800,002 6,672,057
intangible assets 185,333 72,619

Long-term investments 208,086 0

long-term loans 2,361 1,160
long term deposits, prepayments and recievables 327,319 258,103
long-term installment sales recievables 144,779 96,033
Deffered taxation 236,500 233,750
9,904,380 7,333,722
CURRENT ASSETS
Stores, spares and loose tools 114,789 111,006
Stock-in-trade 23,946,058 16,288,608
Trade debts 211,358 1,205,269
Current portion of long-term installment sales recievables 320,996 291,254
loans advances and others 37,481 163,019
Trade deposits and short-term prepayments 965,722 77,129
Accured profit on bank deposits 28,699 120,761
Other recievables 147,775 167,306
Sales tax adjustable 1,143,685 1,651,301
Income tax refundable-net 4,899,972 1,894,297
Cash and bank balances 9,189,552 8,548,293
41,006,087 30,518,243
TOTAL ASSETS

50,910,467 37,851,965

SHARE CAPITAL AND RESERVES

Issued,subscribed and paid-up share capital 822,999 822,999
Reserves 28,726,717 25,393,908
29,549,716 26,216,907

CURRENT LIABILITIES

Trade and other payables 11,391,952 6,300,123

Advances 5,331,948 1,625,472
short-term borrowings 0 0
Deposits against display of vehicle
Security deposits 4,600,552 3,673,164
Provision for custom duties and sales tax 36,299 36,299
21,360,751 11,635,058

TOTAL EQUITY AND LIABLITIES 50,910,467 37,851,965

ASSETS 2017 2016

NON-CURRENT ASSETS
Fixed assets
property, plant and equipment 17.3% 17.6%
intangible assets 0.4% 0.2%

Long-term investments 0.4% 0.0%

long-term loans 0.0% 0.0%
long term deposits, prepayments and recievables 0.6% 0.7%
long-term installment sales recievables 0.3% 0.3%
Deffered taxation 0.5% 0.6%
19.5% 19.4%
CURRENT ASSETS
Stores, spares and loose tools 0.2% 0.3%
Stock-in-trade 47.0% 43.0%
Trade debts 0.4% 3.2%
Current portion of long-term installment sales recievables 0.6% 0.8%
loans advances and others 0.1% 0.4%
Trade deposits and short-term prepayments 1.9% 0.2%
Accured profit on bank deposits 0.1% 0.3%
Other recievables 0.3% 0.4%
Sales tax adjustable 2.2% 4.4%
Income tax refundable-net 9.6% 5.0%
Cash and bank balances 18.1% 22.6%
80.5% 80.6%

TOTAL ASSETS 100.0% 100.0%

SHARE CAPITAL AND RESERVES

Issued,subscribed and paid-up share capital 1.6% 2.2%
Reserves 56.4% 67.1%
58.0% 69.3%
CURRENT LIABILITIES

Trade and other payables 22.4% 16.6%

Advances 10.5% 4.3%
short-term borrowings 0.0% 0.0%
Deposits against display of vehicle 0.0% 0.0%
Security deposits 9.0% 9.7%
Provision for custom duties and sales tax 0.1% 0.1%
42.0% 30.7%

TOTAL EQUITY AND LIABLITIES 100.0% 100.0%

 2015 2014 2013

4,510,789 4,790,506 4,892,675

83,288 205,287 182,638

0 351 2,194
9,609 9,597 6,264
24,768 22,788 36,977
113,627 162,260 170,252
194,500 55,797 147,912
4,936,581 5,246,586 5,438,912

98,801 82,030 66,279

13,084,447 14,976,001 10,726,457
1,561,823 1,352,310 983,273
347,976 387,608 330,504
197,712 514,845 411,629
70,862 53,110 62,935
193,429 16,340 13,016
86,666 134,260 114,138
277,801 1,002,345 802,777
1,589,882 2,747,340 2,896,998
15,006,007 1,841,384 1,964,359
32,515,406 23,107,573 18,372,365

37,451,987 28,354,159 23,811,277

822,999 822,999 822,999

23,856,239 18,413,683 16,822,159
24,679,238 19,236,682 17,645,158

6,441,748 4,945,271 3,695,675

4,226,341 2,159,487 629,275
0 8,982 0
1,615,747
2,068,361 1,917,414 86,947
 36,299 86,323 138,475
12,772,749 9,117,477 6,166,119

37,451,987 28,354,159 23,811,277

2015 2014 2013

12.0% 16.9% 20.5%

0.2% 0.7% 0.8%

0.0% 0.0% 0.0%

0.0% 0.0% 0.0%
0.1% 0.1% 0.2%
0.3% 0.6% 0.7%
0.5% 0.2% 0.6%
13.2% 18.5% 22.8%

0.3% 0.3% 0.3%

34.9% 52.8% 45.0%
4.2% 4.8% 4.1%
0.9% 1.4% 1.4%
0.5% 1.8% 1.7%
0.2% 0.2% 0.3%
0.5% 0.1% 0.1%
0.2% 0.5% 0.5%
0.7% 3.5% 3.4%
4.2% 9.7% 12.2%
40.1% 6.5% 8.2%
86.8% 81.5% 77.2%

100.0% 100.0% 100.0%

2.2% 2.9% 3.5%

63.7% 64.9% 70.6%
65.9% 67.8% 74.1%
 17.2% 17.4% 15.5%
11.3% 7.6% 2.6%
0.0% 0.0% 0.0%
0.0% 0.0% 6.8%
5.5% 6.8% 0.4%
0.1% 0.3% 0.6%
34.1% 32.2% 25.9%

100.0% 100.0% 100.0%

INCOME STATEMENT
Turnover-net 101,811,611 76,516,040 84,548,757
Cost of sales 92,159,038 69,167,463 73,061,309

Gross profit 9,652,573 7,348,577 11,487,448

Distribution costs 2,804,256 2,004,285 1,945,832

Administrative expenes 1,599,815 1,539,590 1,230,819
Other operating expenses 413,997 333,542 653,212
4,818,068 3,877,417 3,829,863
Operating Income 4,834,505 3,471,160 7,657,585

Other income 864,711 1,039,851 1,058,426

share of loss of equity 11914
5,687,302 4,511,011 8,716,011
Finance costs 68,088 95,775 30,840
Profit Before taxation 5,619,214 4,415,236 8,685,171

Taxation 1,793,393 1,642,601 2,842,500

Profit after taxation 3,825,821 2,772,635 5,842,671

Earnings per share- basic and diluted 46.49 33.69 70.99

2017 2016 2015

Turnover-net 100% 100% 100%
Cost of sales 91% 90% 86%

Gross profit 9.5% 9.6% 13.6%

Distribution costs 2.8% 2.6% 2.3%

Administrative expenes 1.6% 2.0% 1.5%
Other operating expenses 0.4% 0.4% 0.8%

Operating Income 4.7% 4.5% 9.1%

Other income 0.8% 1.4% 1.3%
share of loss of equity 0.0% 0.0% 0.0%

Finance costs 0.1% 0.1% 0.0%

Profit Before taxation 5.5% 5.8% 10.3%

Taxation 1.8% 2.1% 3.4%

Profit after taxation 3.8% 3.6% 6.9%
53,664,947 51,061,333
49,481,248 47,818,820

4,183,699 3,242,513

746,304 560,239
1,101,650 959,363
195,850 175,137
2,043,804 1,694,739
2,139,895 1,547,774

510,208 863,241

2,650,103 2,411,015
26,709 57,576
2,623,394 2,353,439

701,500 504,082

1,921,894 1,849,357

23.35 22.47

2014 2013
100% 100%
92% 94%

7.8% 6.4%

1.4% 1.1%
2.1% 1.9%
0.4% 0.3%

4.0% 3.0%
1.0% 1.7%
0.0% 0.0%

0.0% 0.1%
4.9% 4.6%

1.3% 1.0%
3.6% 3.6%
Ratios
Liquidity ratios 2017 2016 2015 2014 2013

Current Ratio 1.92 2.62 2.55 2.53 2.98

Quick Ratio 0.44 0.85 1.31 0.35 0.48

Efficiency Ratios
Inventory turnover 4.23 4.67 6.41 3.56 4.73
Days in inventory 86.26 78.23 56.91 102.42 77.15
A/R turnover 481.70 63.48 54.13 39.68 51.93
Days sales outstanding 0.76 5.75 6.74 9.20 7.03
Total Asset Turnover 2.00 2.02 2.26 1.89 2.14

Solvency Ratios

Debt to Equity 0.72 0.44 0.52 0.47 0.35

Debt to total assets 0.42 0.31 0.34 0.32 0.26
Time interest earned ratio 71.00 47.10 282.62 99.22 41.88

Profitability Ratios

Gross profit Margin 9.5% 9.6% 13.6% 7.8% 6.4%

operating profit margin 4.7% 4.5% 9.1% 4.0% 3.0%
Net profit margin 3.8% 3.6% 6.9% 3.6% 3.6%

RETURN

Return on Assets 7.5% 7.3% 15.6% 6.8% 7.8%

Return on equity 12.9% 10.6% 23.7% 10.0% 10.5%

DUPONT 12.9% 10.6% 23.7% 10.0% 10.5%

Net profit margin 0.04 0.04 0.07 0.04 0.04
Asset turn over 2.00 2.02 2.26 1.89 2.14
Equity multiplier 1.72 1.44 1.52 1.47 1.35
 35.0%
Dupont equation
2.50 30.0%

2.00 25.0%

20.0%
1.50
15.0%
1.00
10.0%
0.50 5.0%

- 0.0%
2017 2016 2015 2014 2013 net profit
1 2 3
operating
Net profit ma rgi n As s et turn over Equi ty mul tipl i er gross pro
 Liquidity ratios
3.50

3.00

2.50

2.00

1.50

1.00

0.50
net profit margin
2 3 4 5
-
operating profit margin 2017 2016 2015 2014 2013
gross profit margin Current Ratio Qui ck Ratio
2014 2013
atio