Business Page March 24, 2002


ON THE LINE - BANKS DIH LIMITED

 

Introduction

Today, we look at the Annual Report of Banks DIH Limited presented by the Executive Chairman at the company's 46th. Annual General Meeting held on Saturday March 9, 2002. The report includes the both the company's as well as the group's financial statements for the year ended September 30, 2001. The company does not usually present financial highlights but the following graph on the company's operations is prepared from the accounts.

Profit and Loss Account

                                                2001                2000                1999                1998                1997

Net Turnover ($M)                   7,320               7,388               6,752               6,384               6,085   Operating Profit ($M)                  952                  984                  876                  967                  901 Taxation ($M)                             367                  400                  345                  382                  310   Profit After Tax  ($M)                 618                  610                  557                  615                  611

The gross revenue for the year is just under 1% lower than the preceding year while its operating profits fell by 3.3%. The Directors' Report however did not refer to this decline preferring to emphasise the Group's revenue growth (1%) and net profit (3%) which the Board "considered as a good performance in view of the many difficulties and challenges faced by the businesses during the year"

                                                2001                2000                1999                1998                1997

Net Profit Margin (%)                      8.45                 8.26                 8.72                 9.63                 10.03   Operating return on assets (%)       0.12                 0.14                 0.14                 0.16                   0.16   Return on equity (%)                    0.17                 0.19                 0.19                 0.23                   0.26

Balance Sheet

                                    2001                2000                1999                1998                1997

Current Assets  ($M)               3,743               3,390               3,084               3,011               2,487 Current Liabilities ($M)            2,160               1,817               1,819               1,795               1,844 Working Capital ($M)              1,583               1,573               1,265               1,216                  643       Fixed Assets ($M)                    4,656               4,189               3,963               3,515               3,385 Loans ($M)                                                                                 280                  231                  342 Equity   ($M)                            5,828               5,400               4,954               4,562               3,693