Ratio Analysis: (5 marks) Calculate the following ratios for the years 2018 and 2019 Formula 2018 2019 S.No 1 2 3 4 5 6 7 8 9 10 Ratio Current ratio Quick ratio Gross profit ratio Operating profit ratio Net profit ratio Price Earnings Ratio Inventory turnover ratio Receivable turnover ratio Payables turnover ratio Fixed assets turnover ratio RAYSUT CEMENT COMPANY SAOG AND ITS SUBSIDIARIES PARENT COMPANY AND CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2020 Consolidated Note Parent 2020 RO 2020 2019 RO 2019 RO RO Revenue Cost of sales 31 32 60,782,611 (53,248,176) Gross profit General and administrative expenses Selling and distribution expenses Other income 60,333,591 (47,220,534) 13,113,057 (6,543,601) (7,586,851) 4,509,880 7,534,435 (10,225,521) (8,045,305) 419,901 (10,316,490) (3,451,425) 51,608 33 35 36 84,055,760 (64,991,186) 19,064,574 (8,011,187) (8,477,523) 5,190,348 7,766,212 (4,235,568) 199,273 (234,759) (612,900) Operating (loss) / profit Finance cost - net Investment income Impairment of investment in associates Fair value loss on financial assets at FVTPL 37 38 11 17 90,383,395 (85,596,670) 4,786,725 (11,398,583) (5,489,811) 433,426 (11,668,243) (3,781,336) 51,608 (6,587) (371,517) (15,776,075) 1,719,413 (14,056,662) 3,492,485 (4,143,163) 2,184,273 (113,343) (612,900) 807,352 (371,517) (14,087,824) 2.882,258 (Loss) / profit before tax Income tax 27 1,705,756 (622,527) (622,527) Total (loss) / profit for the year (12,382,068) 184,825 2,259,731 Other comprehensive income Items that may be reclassified to profit or loss Exchange differences on translation of foreign operations 31,643 31,643 Total other comprehensive income for the year Total comprehensive (loss) / income for the year (12,382,068) 184,825 (14,025,019) 2,259,731 Total (loss) / profit attributable to: Owners of the parent company Non-controlling interest (12,382,068) 184,825 2,259,731 (14,054,391) (2,271) (12,382,068) 184,825 (14,056,662) 2,259,731 Total comprehensive (loss) / income attributable to: (12,382,068) 184,825 2,259,731 Owners of the parent company Non-controlling interest (14,022,748) (2,271) (14,025,019) (0.070) (12,382,068) 184,825 2,259,731 Basic and diluted earning per share 40 (0.062) 0.001 0.011 === The notes on pages 13 to 60 form an integral part of these financial statements. Page: 9 RAYSUT CEMENT COMPANY SAOG AND ITS SUBSIDIARIES PARENT COMPANY AND CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2020 Note Parent 2020 RO 2019 RO Consolidated 2020 RO 2019 RO ASSETS Non-current assets Goodwill Property, plant and equipment Right-of-use assets Investment in subsidiaries Receivable from a related party - non-current Financial assets at fair value through other comprehensive income Deferred tax asset 49,134,458 115,022,746 4,885,520 61,106,313 10,396,053 82,557,978 8 9 10 12 18 14 27 46.617,068 114,356,388 21,577,594 64.153,295 29.050,726 79,171,563 1,300,000 125,000 125,000 125.000 125,000 124,627 169,292,351 Total non-current assets 154,185,344 173.800.584 182,676,050 23,484,845 13,761,503 34,141,733 19,290,412 32,764,017 26,045.240 Current assets Inventories Trade receivables - net Advance to subsidiary Financial assets at fair value through profit or loss Prepayments, advances and other receivables Cash and bank balances 15 16 13 17 18 19 2,244,585 11,274,017 49,543 50,814,493 26,619,382 15.462,335 849,000 2,616,102 11,411,140 203,465 57,161,424 230,962,008 2,244,585 8,783,837 1,414,210 2,616,102 9,757.438 982,464 Total current assets 72,165,261 65,874,777 235,167,128 Total assets 204,999,837 254,841,311 EQUITY AND LIABILITIES Equity Share capital 20 21 22 23 24 20,000,000 13,456,873 6,666,667 3,647,566 6,352,434 20,000,000 13,456,873 6,666,667 3,647,566 6,352,434 20,000,000 13,456,873 6,666,667 3,647,566 6,352.434 20,000,000 13,456,873 6,666,667 3,647,566 6,352,434 31,643 81,617,215 131,772,398 312,726 132,085,124 66,862,988 79,245,056 129,368,596 Share Premium Legal reserve Asset replacement reserve Voluntary reserve Foreign currency translation Retained earnings Equity attributable to Owners of the Parent Company Non-controlling interest Total equity LIABILITIES Non-current liabilities Borrowings Lease liabilities Deferred tax liability End of service benefits 116,986,528 95,671,606 145.795,146 74,740 145.869.886 116,986,528 129,368,596 25 26 27 28 21,608,287 9,774,308 2,015,000 642,836 34,040,431 24,064,280 23,576,604 4,113,000 672.155 52,426,039 21,546,243 5,048,084 2,015,000 1,213,869 29,823,196 15,950.821 15,434,471 4,113,000 1.267,139 36,765,431 Total non-current liabilities Current liabilities Borrowings Lease liabilities Trade and other payables Short term borrowings Income tax payable 25 26 29 30 27 9,026,855 1,552,232 29,077,982 14,315,809 9,101,528 6,470,828 18.723,763 14.417.254 454,000 --- 49,167,373 101,593,412 18,230,702 208,130 35,334,939 19,399,905 85,132 73,258,808 103,082,004 235,167,128 25,721,093 6,595.836 22,425,452 17.009,613 454.000 Total current liabilities 53,972,878 88,013,309 Total liabilities 72,205,994 108,971,425 - 254,841,311 0.729 204,999,837 Total equity and liabilities Net assets per share 230,962,008 0.647 39 0.585 0.660 These financial statements were approved and authorised for issue by the Board of Directors on ...? and signed on their behalf by: 23/02/2021 suglione Ils Ahmed Bin Yousuf Bin Alawi Al Ibrahim Chairman Ghofellotirmov Pratul Krishna Chief Executive Officer The notes on pages 13 to 60 form an integral part of these financial statements. Page: 8 Ratio Analysis: (5 marks) Calculate the following ratios for the years 2018 and 2019 Formula 2018 2019 S.No 1 2 3 4 5 6 7 8 9 10 Ratio Current ratio Quick ratio Gross profit ratio Operating profit ratio Net profit ratio Price Earnings Ratio Inventory turnover ratio Receivable turnover ratio Payables turnover ratio Fixed assets turnover ratio RAYSUT CEMENT COMPANY SAOG AND ITS SUBSIDIARIES PARENT COMPANY AND CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2020 Consolidated Note Parent 2020 RO 2020 2019 RO 2019 RO RO Revenue Cost of sales 31 32 60,782,611 (53,248,176) Gross profit General and administrative expenses Selling and distribution expenses Other income 60,333,591 (47,220,534) 13,113,057 (6,543,601) (7,586,851) 4,509,880 7,534,435 (10,225,521) (8,045,305) 419,901 (10,316,490) (3,451,425) 51,608 33 35 36 84,055,760 (64,991,186) 19,064,574 (8,011,187) (8,477,523) 5,190,348 7,766,212 (4,235,568) 199,273 (234,759) (612,900) Operating (loss) / profit Finance cost - net Investment income Impairment of investment in associates Fair value loss on financial assets at FVTPL 37 38 11 17 90,383,395 (85,596,670) 4,786,725 (11,398,583) (5,489,811) 433,426 (11,668,243) (3,781,336) 51,608 (6,587) (371,517) (15,776,075) 1,719,413 (14,056,662) 3,492,485 (4,143,163) 2,184,273 (113,343) (612,900) 807,352 (371,517) (14,087,824) 2.882,258 (Loss) / profit before tax Income tax 27 1,705,756 (622,527) (622,527) Total (loss) / profit for the year (12,382,068) 184,825 2,259,731 Other comprehensive income Items that may be reclassified to profit or loss Exchange differences on translation of foreign operations 31,643 31,643 Total other comprehensive income for the year Total comprehensive (loss) / income for the year (12,382,068) 184,825 (14,025,019) 2,259,731 Total (loss) / profit attributable to: Owners of the parent company Non-controlling interest (12,382,068) 184,825 2,259,731 (14,054,391) (2,271) (12,382,068) 184,825 (14,056,662) 2,259,731 Total comprehensive (loss) / income attributable to: (12,382,068) 184,825 2,259,731 Owners of the parent company Non-controlling interest (14,022,748) (2,271) (14,025,019) (0.070) (12,382,068) 184,825 2,259,731 Basic and diluted earning per share 40 (0.062) 0.001 0.011 === The notes on pages 13 to 60 form an integral part of these financial statements. Page: 9 RAYSUT CEMENT COMPANY SAOG AND ITS SUBSIDIARIES PARENT COMPANY AND CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2020 Note Parent 2020 RO 2019 RO Consolidated 2020 RO 2019 RO ASSETS Non-current assets Goodwill Property, plant and equipment Right-of-use assets Investment in subsidiaries Receivable from a related party - non-current Financial assets at fair value through other comprehensive income Deferred tax asset 49,134,458 115,022,746 4,885,520 61,106,313 10,396,053 82,557,978 8 9 10 12 18 14 27 46.617,068 114,356,388 21,577,594 64.153,295 29.050,726 79,171,563 1,300,000 125,000 125,000 125.000 125,000 124,627 169,292,351 Total non-current assets 154,185,344 173.800.584 182,676,050 23,484,845 13,761,503 34,141,733 19,290,412 32,764,017 26,045.240 Current assets Inventories Trade receivables - net Advance to subsidiary Financial assets at fair value through profit or loss Prepayments, advances and other receivables Cash and bank balances 15 16 13 17 18 19 2,244,585 11,274,017 49,543 50,814,493 26,619,382 15.462,335 849,000 2,616,102 11,411,140 203,465 57,161,424 230,962,008 2,244,585 8,783,837 1,414,210 2,616,102 9,757.438 982,464 Total current assets 72,165,261 65,874,777 235,167,128 Total assets 204,999,837 254,841,311 EQUITY AND LIABILITIES Equity Share capital 20 21 22 23 24 20,000,000 13,456,873 6,666,667 3,647,566 6,352,434 20,000,000 13,456,873 6,666,667 3,647,566 6,352,434 20,000,000 13,456,873 6,666,667 3,647,566 6,352.434 20,000,000 13,456,873 6,666,667 3,647,566 6,352,434 31,643 81,617,215 131,772,398 312,726 132,085,124 66,862,988 79,245,056 129,368,596 Share Premium Legal reserve Asset replacement reserve Voluntary reserve Foreign currency translation Retained earnings Equity attributable to Owners of the Parent Company Non-controlling interest Total equity LIABILITIES Non-current liabilities Borrowings Lease liabilities Deferred tax liability End of service benefits 116,986,528 95,671,606 145.795,146 74,740 145.869.886 116,986,528 129,368,596 25 26 27 28 21,608,287 9,774,308 2,015,000 642,836 34,040,431 24,064,280 23,576,604 4,113,000 672.155 52,426,039 21,546,243 5,048,084 2,015,000 1,213,869 29,823,196 15,950.821 15,434,471 4,113,000 1.267,139 36,765,431 Total non-current liabilities Current liabilities Borrowings Lease liabilities Trade and other payables Short term borrowings Income tax payable 25 26 29 30 27 9,026,855 1,552,232 29,077,982 14,315,809 9,101,528 6,470,828 18.723,763 14.417.254 454,000 --- 49,167,373 101,593,412 18,230,702 208,130 35,334,939 19,399,905 85,132 73,258,808 103,082,004 235,167,128 25,721,093 6,595.836 22,425,452 17.009,613 454.000 Total current liabilities 53,972,878 88,013,309 Total liabilities 72,205,994 108,971,425 - 254,841,311 0.729 204,999,837 Total equity and liabilities Net assets per share 230,962,008 0.647 39 0.585 0.660 These financial statements were approved and authorised for issue by the Board of Directors on ...? and signed on their behalf by: 23/02/2021 suglione Ils Ahmed Bin Yousuf Bin Alawi Al Ibrahim Chairman Ghofellotirmov Pratul Krishna Chief Executive Officer The notes on pages 13 to 60 form an integral part of these financial statements. 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