1. TO
OUR
PRESENTATION

2. FINANCIAL ANALYSIS
& CONTROL
Financial analysis about the three Cement
companies are:
 Confidence Cement ltd.
 Hidelberg Cement Bangladesh ltd.
 Meghna Cement Mills ltd.

3. RE-PRESENTERS NAME
 Perthojit Kumar Dash
 Biddut Ahmed Sagor
 Md. Shumon Iftikher
 Md. Nur-E-Alom

4.  Confidence Cement Limited (CCL) is the first private sector cement
manufacturing company in Bangladesh.
 It was established in 1994 with having 4,80,000 M/T annual production
capacity at Chittagong.
 It Manufactures Portland cement and Portland Composite Cement.
 CCL aims to be the number one cement manufacturing company in
Bangladesh, through continuous development and by producing high and
consistent quality Cement to meet all customers requirement at all time.

5.  Meghna Cement Mills Ltd is the first manufacturing unit of
Bashundhara Group and it is one of the largest cement industries in
the country.
 The company markets its product under the registered trade mark
"King Brand Cement". This organization was established in 1992.
 At present the production capacity of MCML is approx. 1.0
million MT/annum.

6. In 1999, HeidelbergCement acquired its operations in Bangladesh. Our subsidiary
HeidelbergCement Bangladesh Ltd., which is the market leader in Bangladesh,
operates two cement grinding plants in Dhaka, the capital city, and in Chittagong. In
order to benefit from steady growth in the Bangladeshi cement market, we have
built an additional cement mill with a capacity of 0.8 million tones in our
Chittagong grinding plant. After successful test runs at the end of 2011, production
commenced at the start of 2012.

7. ECONOMIC EARNING
0
20000000
40000000
60000000
80000000
100000000
120000000
140000000
2007 2008 2009 2010 2011 2012
Confidence 67340370 85773421 13264100 132324417 69341041 91769384
Megena 85108833.97 58334116.41 76948757.4 48627025.74 48601728.32 41224870.97
Heidelberg 75492150 46525550 64817080 62392240 51233250 4303650

8. By using cross- sectional comparisons the three companies, we can
identify the actual reported data that is filled with problems because
of the currency differentials as well as the disparity in size.

9. 0%
10%
20%
30%
40%
50%
60%
70%
80%
Heidelberg Confidence MEGHNA
Current asset 61% 38% 73%
Current Liabilities 23% 29% 59%

10. FIXED ASSET VS. TOTAL ASSET
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Heidelberg Confidence MEGHNA
Fixed Asset 37% 46% 27%
Total asset 100% 100% 100%

11. INTANGIBLE ASSETS VS
TOTAL ASSETS
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Heidelberg Confidence MEGHNA
Intangible Asset 0% 0% 0%
Total Assets 100% 100% 100%

12. INVESTMENT VS TOTAL
ASSETS
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Heidelberg Confidence MEGHNA
Investment 0% 14% 0%
Total Assets 100% 100% 100%

13. CURRENT LIABILITIES &
TOTAL LIABILITIES
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Heidelberg Confidence MEGHNA
Current Liabilities 23% 29% 59%
Total Liabilities 31% 37% 82%

14. TOTAL EQUITY VS TOTAL
ASSETS
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Heidelberg Confidence MEGHNA
Total Equity 69% 63% 18%
Total assets 100% 100% 100%

15. SALES VS COST OF GOODS
SOLD
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Heidelberg Confidence MEGHNA
Sales 100% 100% 100%
COGS 81% 83% 89%

16. SALES VS OPERATING COST
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Heidelberg Confidence MEGHNA
Sales 100% 100% 100%
Oparating Cost 14% 14% 5%

17. SALES VS INTEREST
EXPENSE
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Heidelberg Confidence MEGHNA
Sales 100% 100% 100%
Interest 0% 2% 3%

18. SALES VS NET INCOME
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Heidelberg Confidence MEGHNA
Sales 100% 100% 100%
Net Income 12% 9% 2%

19. Financial ratios are used to compare the risk and return of different
firms in order help equity investors & creditors make intelligent
investment & credit decisions.
A firms operation activities require investments in both short-term
(inventory & AR) & long-term (property, plant, equipment) assets.

20. INVENTORY TURNOVER
RATION
2007 2008 2009 2010 2011 2012
Heidelbergcement 6.51 3.54 6.29 5.25 6.40 7.41
Confidence cement 4.06 4.87 3.66 3.58 5.93 7.52
Meghna Cement 38.04 43.17 39.37 6.94 6.96 13.42
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
40.00
45.00
50.00

21. RECEIVABLES TURNOVER
2007 2008 2009 2010 2011 2012
Heidelbergcement 9.96 10.53 12.28 14.12 10.63 11.86
Confidence cement 9.36 8.46 6.94 13.24 9.67 7.34
Meghna Cement 3.19 6.08 6.43 13.20 7.68 5.92
0.00
2.00
4.00
6.00
8.00
10.00
12.00
14.00
16.00

22. PAYABLE TURNOVER
2007 2008 2009 2010 2011 2012
Heidelbergcement 3.02 4.99 4.96 5.58 4.33 5.77
Confidence cement 21.16 30.52 47.50 31.69 28.09 13.65
Meghna Cement 78.89 25.71 16.78 16.47 20.24 15.54
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
80.00
90.00

23. WORKING CAPITAL
TURNOVER
2007 2008 2009 2010 2011 2012
Heidelbergcement 6.58 4.02 3.52 2.84 3.28 2.91
Confidence cement 2.32 2.42 2.00 2.24 2.17 2.48
Meghna Cement 2.54 3.07 3.09 3.30 2.62 2.63
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00

24. FIXED ASSETS TURNOVER
2007 2008 2009 2010 2011 2012
Heidelbergcement 2.16 2.25 2.76 3.37 3.57 3.20
Confidence cement 2.11 2.51 0.79 1.10 1.19 1.73
Meghna Cement 2.26 2.79 4.29 4.38 4.99 5.92
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00

25. LIQUIDITY ANALYSIS
Short term leandes and creditors must assess the ability of a firm to
meet its short term obligation. The ability depends on the cash
resources available as of the balance sheet date and the cash to be
generated through the operating cycle of the firm.

26. CURRENT RATIO
2007 2008 2009 2010 2011 2012
Heidelbergcement 1.030 1.268 2.035 2.379 2.143 2.641
Confidence cement 1.293 1.073 1.420 1.360 1.236 1.296
Meghna Cement 1.102 1.430 1.295 1.203 1.193 1.249
0.000
0.500
1.000
1.500
2.000
2.500
3.000

27. CASH RATIO
2007 2008 2009 2010 2011 2012
Heidelbergcement 0.40 0.32 1.09 1.32 1.16 1.62
Confidence cement 0.07 0.04 0.05 0.07 0.07 0.04
MeghnaCement 0.06 0.07 0.09 0.03 0.04 0.06
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
1.60
1.80

28. CASH FLOW FROM
OPERATION RATIO
2007 2008 2009 2010 2011 2012
Heidelbergcement 0.53 0.01 1.26 0.62 0.54 0.54
Confidence cement 0.06 -0.12 0.37 0.33 0.17 0.05
Meghna Cement 0.17 0.01 -0.05 0.15 -0.19 0.08
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40

29. DEFENSIVE INTERVAL
2007 2008 2009 2010 2011 2012
Heidelbergcement 5.28 4.92 7.54 7.13 7.32 9.83
Confidence cement 54.02 49.64 71.14 40.41 53.37 63.69
Meghna Cement 46.46 45.22 36.28 33.18 55.63 74.39
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
80.00

30. LONG TERM DEBT &
SOLVENCY ANALYSIS
The analysis of a firm's capital structure is essential to evaluate its long
term risk and return prospects . Leveraged firms accrue excess return to
their shareholders as long as the rate of return on the investment financed
by debt is greater than the cost of debt. The benefits of financial
leverage bring additional risks in the form of fixed cost ( interest on debt)
may affect profitability if the demand or profit margins decline. The
ability to meet those obligation may lead the company to default and
possible bankruptcy.

31. PROFITABILITY ANALYSIS
Equity investors are concerned with the firm's ability to generate ,
sustain, and increase profits. Profitability cab be measured in several
differing but interrelated dimension. First there is a relationship of a
firm's profit to sales that is the firm residual return to the firm per
sales. Another measures , return on Investment (ROI) relates the
investment required to generate them.

32. GROSS MARGIN
2007 2008 2009 2010 2011 2012
Heidelbergcement 0.22 0.19 0.25 0.24 0.16 0.19
Confidence cement 0.12 0.02 0.19 0.14 0.14 0.17
Meghna Cement 0.12 0.07 0.10 0.08 0.09 0.11
0.00
0.05
0.10
0.15
0.20
0.25
0.30

33. RETURN ON ASSETS(ROA)
2007 2008 2009 2010 2011 2012
Heidelbergcement 0.13135451 0.112034966 0.144480263 0.139245777 0.09371722 0.140513936
Confidence cement 0.061499058 -0.007570897 0.064444861 0.077152023 0.057935773 0.083662379
Meghna Cement 0.051591671 0.007931284 0.039801993 0.013888085 0.016194056 0.033887182
-0.02
0
0.02
0.04
0.06
0.08
0.1
0.12
0.14
0.16

34. RETURN ON EQUITY(ROE)
2007 2008 2009 2010 2011 2012
Heidelbergcement 0.22 0.18 0.21 0.21 0.14 0.20
Confidence cement 0.08 -0.05 0.08 0.09 0.08 0.11
Meghna Cement 0.24 0.04 0.20 0.07 0.10 0.19
-0.10
-0.05
0.00
0.05
0.10
0.15
0.20
0.25
0.30

35. OPERATING & FINANCIAL
LEVERAGE ANALYSIS
Profitability ratios imply that profits are proportional to sales, which
may misstate the true relationship among sales, cost, and profit.
Generally a doubling of sales would be expected to double of income
only if all expense are variables.

36. BASIC EPS
2007 2008 2009 2010 2011 2012
Heidelbergcement 110.00 104.86 150.61 176.75 13.27 22.78
Confidence cement 27.73 -14.98 68.61 7.39 5.29 6.23
Meghna Cement 65.86 10.28 58.66 2.23 2.96 6.28
-50.00
0.00
50.00
100.00
150.00
200.00

37. PRICE EARING RATIO(PE RATIO)
2007 2008 2009 2010 2011 2012
Heidelbergcement 10.28179138 11.57680467 14.29207145 20.70246816 19.28773955 11.79463328
Confidence cement 13.03712316 -21.24728363 20.37897395 39.69482236 22.66000655 0
Meghna Cement 5.45499588 37.54543912 22.22994426 155.2475047 43.77672448 16.6813298
-40
-20
0
20
40
60
80
100
120
140
160
180

38. BOOK VALUE RATIO
2007 2008 2009 2010 2011 2012
Heidelbergcement 50.559 58.546 70.305 84.18 93.14 111.49
Confidence cement 360.6574642 330.6790789 894.7844306 79.84680441 67.07479656 56.74476994
Meghna Cement 1276.505685 1296.24352 1473.785908 160.4756412 182.5304681 185.3937801
0
200
400
600
800
1000
1200
1400
1600

40. ECONOMIC EARNING
0
20000000
40000000
60000000
80000000
100000000
120000000
140000000
2007 2008 2009 2010 2011 2012
Confidence 67340370 85773421 13264100 132324417 69341041 91769384
Megena 85108833.97 58334116.41 76948757.4 48627025.74 48601728.32 41224870.97
Heidelberg 75492150 46525550 64817080 62392240 51233250 4303650

41. SALES VS INTEREST
EXPENSE
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Heidelberg Confidence MEGHNA
Sales 100% 100% 100%
Interest 0% 2% 3%

42. SALES VS OPERATING COST
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Heidelberg Confidence MEGHNA
Sales 100% 100% 100%
Oparating Cost 14% 14% 5%

43. RECEIVABLES TURNOVER
2007 2008 2009 2010 2011 2012
Heidelbergcement 9.96 10.53 12.28 14.12 10.63 11.86
Confidence cement 9.36 8.46 6.94 13.24 9.67 7.34
Meghna Cement 3.19 6.08 6.43 13.20 7.68 5.92
0.00
2.00
4.00
6.00
8.00
10.00
12.00
14.00
16.00

44. PAYABLE TURNOVER
2007 2008 2009 2010 2011 2012
Heidelbergcement 3.02 4.99 4.96 5.58 4.33 5.77
Confidence cement 21.16 30.52 47.50 31.69 28.09 13.65
Meghna Cement 78.89 25.71 16.78 16.47 20.24 15.54
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
80.00
90.00

45. CASH RATIO
2007 2008 2009 2010 2011 2012
Heidelbergcement 0.40 0.32 1.09 1.32 1.16 1.62
Confidence cement 0.07 0.04 0.05 0.07 0.07 0.04
MeghnaCement 0.06 0.07 0.09 0.03 0.04 0.06
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
1.60
1.80

46. CURRENT RATIO
2007 2008 2009 2010 2011 2012
Heidelbergcement 1.030 1.268 2.035 2.379 2.143 2.641
Confidence cement 1.293 1.073 1.420 1.360 1.236 1.296
Meghna Cement 1.102 1.430 1.295 1.203 1.193 1.249
0.000
0.500
1.000
1.500
2.000
2.500
3.000

47. CASH FLOW FROM
OPERATION RATIO
2007 2008 2009 2010 2011 2012
Heidelbergcement 0.53 0.01 1.26 0.62 0.54 0.54
Confidence cement 0.06 -0.12 0.37 0.33 0.17 0.05
Meghna Cement 0.17 0.01 -0.05 0.15 -0.19 0.08
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40

48. DEFENSIVE INTERVAL
2007 2008 2009 2010 2011 2012
Heidelbergcement 5.28 4.92 7.54 7.13 7.32 9.83
Confidence cement 54.02 49.64 71.14 40.41 53.37 63.69
Meghna Cement 46.46 45.22 36.28 33.18 55.63 74.39
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
80.00

49. RETURN ON ASSETS
2007 2008 2009 2010 2011 2012
Heidelbergcement 0.13135451 0.112034966 0.144480263 0.139245777 0.09371722 0.140513936
Confidence cement 0.061499058 -0.007570897 0.064444861 0.077152023 0.057935773 0.083662379
Meghna Cement 0.051591671 0.007931284 0.039801993 0.013888085 0.016194056 0.033887182
-0.02
0
0.02
0.04
0.06
0.08
0.1
0.12
0.14
0.16

50. ROE
2007 2008 2009 2010 2011 2012
Heidelbergcement 0.22 0.18 0.21 0.21 0.14 0.20
Confidence cement 0.08 -0.05 0.08 0.09 0.08 0.11
Meghna Cement 0.24 0.04 0.20 0.07 0.10 0.19
-0.10
-0.05
0.00
0.05
0.10
0.15
0.20
0.25
0.30

51. PE RATIO
2007 2008 2009 2010 2011 2012
Heidelbergcement 10.28179138 11.57680467 14.29207145 20.70246816 19.28773955 11.79463328
Confidence cement 13.03712316 -21.24728363 20.37897395 39.69482236 22.66000655 0
Meghna Cement 5.45499588 37.54543912 22.22994426 155.2475047 43.77672448 16.6813298
-40
-20
0
20
40
60
80
100
120
140
160
180

52. BOOK VALUE RATIO
2007 2008 2009 2010 2011 2012
Heidelbergcement 50.559 58.546 70.305 84.18 93.14 111.49
Confidence cement 360.6574642 330.6790789 894.7844306 79.84680441 67.07479656 56.74476994
Meghna Cement 1276.505685 1296.24352 1473.785908 160.4756412 182.5304681 185.3937801
0
200
400
600
800
1000
1200
1400
1600