Professional Documents
Culture Documents
AND
RESEARCH INSTITUTE
By
D.RAVI KUMAR
REG NO 08841E0014
SEEMA MADAM
For
JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY,
HYDERABAD-A.P
INTRODUCTION TO THE PROJECT
The project is all about the study of observations, Trend, Future
project problems and comparative growth rate, PAT sales turn over
and few ratios around ten
DECLARATION:-
I do here by declare that the dissertation entitled
“COMPANY ANANLYSIS REPORT” submitted by me to the
department of Business of Management of Aurora’s
Technological and Research Institute, Jawaharlal Nehru
Technological University, Parvathapur, Uppal is a bonafide work
undertaken by me and not submitted to any other university or
institution for award of my Degree/Diploma/certificate or
published any time before.
PLACE:
DATE: D.RAVI KUMAR
REG NO 08841E0014
CERTIFICATION:-
This is to certify that the Report title COMPANY ANALYSIS
REPORT is submitted in partial fulfillment of the award of MBA
Department of business management, Aurora’s Technological
and Research Institute, Parvathapur, uppal, Hyderabad-501301
was carried out by D.RAVI KUMAR I
under my guidance. This was not submitted to any other
university or institution for award of my Degree / Diploma /
Certificate
Internal guide
ACKNOWLEDGEMENT:-
It is indeed a pleasant task to thank all the people who have
contributed towards the successful completion of this
“COMPANY ANALYSIS REPORT”
Broadly speaking there are three steps involved in the analysis of financial
statements. These are:
1) Selection
2) Classification
3) Interpretation
1) Ratio analysis
2) Comparative analysis
3) Common size analysis
4) Funds flow statements
5) Cash flow analysis
RATIO ANALYSIS
1. INTRODUCTION:
The ratio analysis is one of the most powerful tools of financial
analysis. It is the process of establishing and interpreting various ratios. It is with
the help of ratios that the financial statements can be analyzed more clearly and
decisions made from such analysis.
A ratio is a simple arithmetical expression of the relationship of one
number to another. It may be defied as the indicated quotient of two
mathematical expressions.
Ratio analysis is a technique of analysis and interpretation of financial
statements for helping in making certain decisions. It is a better understandinjg of
financial strengths and weakness of a firm. There are number of ratios which can
be calculated from the information gives in the financial statements. But the
analysis has to select the appropriate data and calculated a few appropriate ratios
from the keeping in mind the objective of analysis.
The following are the four steps involving in the ratio analysis.
1. Selection of relevant data from the financial statements
Depending upon the objective of the analysis.
The calculation of ratios may not be difficult task but their use is
not easy. Following are the guidelines or factors may be kept in mind, while
interpreting various ratios.
b. Purpose of analysis:
The type of ratios to be calculated will depend upon the purpose for
which these are required if the purpose is to study the current financial position then
ratios relating to current assets and current liabilities will be studied. The purpose of
user is also important the analysis of ratios. A creditor a banker and investor,
shareholders, all have different objects for studying ratios.
c. Selection of ratios:
Another precaution in this analysis is the proper selection of
appropriate ratios. The ratio should match the purpose for which those are required.
d. Uses of standards:
The ratio will give an indication of financial position only. When
discussed with reference to certain standards unless other wise these ratios are
compared with certain standards. One will be able to reach at conclusion.
CLASSIFICATION OF RATIOS:
Liquidity ratios:
The short term creditors of a company like supplier of goods of credit and
commercial banks providing short term loans are primarily interested in knowing the
company’s ability to meet its current or short term obligations as and when these
become due. The short term obligations of a firm can be met only when there are
sufficient liquid assets.
A relatively high current ratio is an indication that the firm is liquid and has the
ability to pay its current obligations in time as and when they become due. On the
other hand, a relatively low ratio represents that the liquidity position of the firm is
not good and the firm shall not be able to pay its current liabilities in time without
facing difficulties. A ratio equal or near to the rule of thumb of 2:1 i.e., current assets
double the current liabilities is considered satisfactory.
Quick assets ratio is also known as acid test ratio is more rigorous test of
liquidity than the current ratio. The term liquidity refers to the ability of a firm to
pay its short term obligations as and when they a measure of liquidity, are current
assets and current liabilities. Current assets include inventories and prepaid expenses
which are not easily convertible in to cash with in a short period. Quick asset
includes bills receivables, sundry debtors, marketable securities and short term (or)
temporary investments. Its ideal ratio is 1:1.
Usually a high acid test ratio is an indication that the firm is liquid and has
the ability to meet its current or liquid liabilities in time and on the other hand a low
quick ratio represent that the firms liquidity position is not good.
As a rule of thumb or as a convention quick ratio of 1:1 is considered
satisfactory. It is generally through that if quick assets are equal to current liabilities
then the concern may be able to meet its short term obligations. Although quick ratio
is more rigorous test of liquidity than the current ratio, yet it should be used
cautiously and 1:1 rule should not be used blindly. A quick ratio of 1:1 does not
necessarily mean satisfactory liquidity position if all the debtors cannot be realized
and cash is needed immediately to meet the current obligation.
A firm has to make credit purchases and incur short term liabilities. A
supplier of goods that is creditors is naturally interested in finding out how much
time the firm is likely to taken in repaying its trade creditors, the analysis for
creditors turnover ratio except that in place of trade debtors, the trade creditors are
taken as one of the components of the ratios.
Net credit purchases
Creditors turnover ratio = --------------------------
Average tr ade creditors
The trade creditors include sundry creditors and bills payables. If opening
and closing balance of creditors are not known, the balance of creditors given may
be taken to find out the ratio. The ratio indicates the velocity with which the
creditors are turned over in relation to purchase. Generally, higher the creditor’s
velocity better is or other wise lower the creditor’s velocity, less favorable are the
results.
Solvency ratios:-
The term solvency refers to the ability of a concern to meet its long
term obligations. The long term indebtness of a firm includes debenture holders
financial institutions providing medium and long term loans and other creditors
selling goods an installment basis. The long term creditors of a firm are primarily
interested in knowing the firm ability to pay regularity interest on long term
borrowings, repayment of the principal amount at the maturity and the security of
their loans. They are
1. Debt equity ratio
2. Proprietary ratio
3. Fixed assets ratio
The two basic components of the ratio are outsider’s funds that is external equities
and share holders funds that is internal equities. The outsiders funds includes all
debts and liabilities to outsiders, where long term or short term or whether in the
form of debentures bonds, mortgages are bills. The share holder’s funds consist of
equity share holder, performance share capital, capital reserves, revenue reserves and
reserves representing accumulated profits and surplus like reserve for contingencies,
sinking funds extra. The accumulated losses and differed expenses, if any should be
deducted from the total to find out shareholders funds.
2.Proprietary ratio:
A variant to the debt equity ratio is the proprietary ratio which is also
known as equity ratio or share holders to total equity ratio or net worth to total assets
ratio. This ratio establishes the relationship between share holder funds to total
assets ratio. This ratio establishes the relationship between share holder funds to the
assets of the firm. The ratio of proprietor’s funds to total funds is an important ratio
for determining long term solvency of the firm, the components of this ratio are
share holder funds or proprietor’s funds and total assets. The share holder funds are
equity share capital, preference share capital, undistributed profits, reserves and
surplus, out of this amount, accumulated losses should be deducted. The total assets
on the other hand denote total resources of the concern.
The ratio indicates the extent to which share holders funds are sunk into the fixed
assets. Generally, the purchase of fixed assets should be financed by shareholders
equity including reserves, surplus and retained earnings. If the ratio is more than
100%, it implies that more the owners funds than fixed assets.
Profitability ratios:-
The primary objective of the business under taking is to earn profits.
Profit earning is considered essential for the survival of the business. A business
needs profits not only for its existence but also expansion and diversification. The
investor’s workers creditors want their remuneration security and they want to know
the profitability of the concern.
1. Gross profit ratio
2. Net profit ratio
3. Return on equity capital
4. Earning per share
This ratio indicates the extent to which selling prices of goods per unit may decline
without resulting in losses on operations of a firm. It reflects the efficiency with
which a firm produces its products. Higher the ratio better is the result. A low ratio
generally indicates high cost of goods sold due to unfavorable purchase policies,
lesser sales, lower selling prices, excessive competition.
This ratio also indicates the firm’s capacity to face adverse economic conditions
such as price competition, low demand etc., obviously, higher the ratio better the
profitability.
Earning per share = Net profit after tax-preference dividend / number of equity
shares
COMPARITIVE ANALYSIS
In comparative analysis financial statements are those statements which
have been designed in a way so as to provide time perspective to the consideration
of various elements of financial position embodied in such statements.
In these statements figures for two or more periods are placed side by side to
facilitate comparison.
Both the Income statement and balance sheet can be prepared in the form of
comparative financial statements.
It is one two (or) more different data can be used for companies assets
and liabilities and finding out any increase or decrease in those items. Thus while in
a single balance sheet the emphasis is on present in the comparative balance sheet.
Such a balance sheet is very useful in studying the trends in an enterprise.
Operating
profit(A-B)
CURRENT
ASSETS
FIXED ASSETS
TOTAL
ASSETS
LIABILITIES
CURRENT
LIABILITIES
LONG TERM
LIABILITIES
TOTAL
LIABILITIES
Cipla, originally founded by Khwaja Abdul Hamied as The Chemical, Industrial &
Pharmaceutical Laboratories is a prominent Indian pharmaceutical company, best-
known outside its home country for producing low-cost anti-AIDS drugs for HIV-
positive patients in developing countries. Cipla makes drugs to treat cardiovascular
disease, arthritis, diabetes, weight control, depression and many other health
conditions, and its products are distributed in more than 180 countries worldwide.
Among the hundreds of generic medications it produces for international distribution
are atorvastatin, amlodipine, fluoxetine, venlafaxine hydrochloride and metformin.
Technology Services
Apart from its presence in the Indian market, Cipla also has an export market and
regularly exports to more than 150 countries in regions such as North America,
South American, Asia, Europe, Middle East, Australia, and Africa. For the year
ended 31 March, 2007 Cipla’s exports were worth approximately Rs. 17,500
million. Cipla is also considerably well-known for its technological innovation and
processes for which the company received know-how loyalties to the tune of Rs. 750
million during 2006-07[citation needed]. Cipla has been approved by regulatory bodies
such as:
Cipla has recently launched i-Pill which is a single dose emergency contraceptive
and has acquired a great deal of popularity in a short span of time. Other latest
launches of Cipla include products such as Nova, Moxicip, Flomex, Fullform,
Montair LC, and Imicrit.
Indian law from 1972 has allowed no (end-product) patents on drugs, and provided
for compulsory licensing, Cipla was able to manufacture medicines which enjoy
patent monopoly in certain other countries (particularly those where large,
multinational pharmaceutical companies are based). By doing so, as well as by
making an executive decision not to make profits on AIDS medication, Cipla
reduced the cost of providing antiretrovirals to AIDS patients from $12,000 and
beyond (monopoly prices charged by international pharma conglomerates) down to
around $300 per year. Today they are able to do so for under $150 per patient per
year. While this sum remains out of reach for many millions of people in Third
World countries, government and charitable sources often are in a position to make
up the difference for destitute patients.
On August 21, 2007 the Indian Monopolies and Restrictive Trade Practices
Commission (MRTPC) announced that it would look into Cipla's pricing and claims
made by AHF.[3] The MRTPC did not issue any further statements on the matter
subsequently.
It has now emerged that Aids Healthcare Foundation (AHF), the US-based NGO
that accused Cipla of over pricing anti-AIDS drug, Viraday, in India is part funded
by American anti-AIDS drug maker Gilead and the NGO's treasurer is a senior
Gilead executive. This is largely the reason why foreign and Indian NGOs such as
Medicins Sans Frontieres (MSF), Delhi Network of Positive People (DNP+), Indian
Network of Positive People (INP+), Sahara and others refused to be part of AHF's
anti-Cipla campaign. Cipla is also the only Indian company opposing Gilead's patent
application for its blockbuster anti-HIV drug Viread in India. The hearing for the
patent case of Viread is due in October. ... Says a head of an NGO, who did not
participate in the anti-Cipla campaign: “There is a conflict of interest in the
campaign. AHF is funded by multinational pharma companies. A senior Gilead
executive is one of the directors of AHF and the campaign choose to target Cipla for
over pricing at a time when it is fighting Gilead's patent case in India. There is a
discomfort and many civil society groups decided to stay away from the campaign.”.
Antiflu
It is into anti-bacterial and anti-asthmatic segments and is the first player in Asia to
launch non-CFC metered dose inhaler.
History
Khwaja Abdul Hamied, the founder of Cipla, was born on October 31, 1898. The
fire of nationalism was kindled in him when he was 15 as he witnessed a wanton act
of colonial highhandedness. The fire was to blaze within him right through his life.
In college, he found Chemistry fascinating. He set sail for Europe in 1924 and got
admission in Berlin University as a research student of "The Technology of Barium
Compounds". He earned his doctorate three years later.
In October 1927, during the long voyage from Europe to India, he drew up great
plans for the future. He wrote: "No modern industry could have been possible
without the help of such centres of research work where men are engaged in
compelling nature to yield her secrets to the ruthless search of an investigating
chemist." His plan found many supporters but no financiers. However, Dr Hamied
was determined to being "a small wheel, no matter how small, than be a cog in a big
wheel."
Cipla is born
Cipla was officially opened on September 22, 1937 when the first products were
ready for the market. The Sunday Standard wrote: "The birth of Cipla which was
launched into the world by Dr K A Hamied will be a red letter day in the annals of
Bombay Industries. The first city in India can now boast of a concern, which will
supersede all existing firms in the magnitude of its operations. India has lagged
behind in the march of science but she is now awakening from her lethargy. The new
company has mapped out an ambitious programme and with intelligent direction and
skillful production bids fair to establish a great reputation in the East. "
July 4, 1939 was a red-letter day for Cipla, when the Father of the Nation, Mahatma
Gandhi, honoured the factory with a visit. He was "delighted to visit this Indian
enterprise", he noted later. From the time Cipla came to the aid of the nation gasping
for essential medicines during the Second World War, the company has been among
the leaders in the pharmaceutical industry in India
On October 31, 1939, the books showed an alltime high loss of Rs 67,935. That was
the last time the company ever recorded a deficit.
In 1944, the company bought the premises at Bombay Central and decided to put up
a "first class modern pharmaceutical works and laboratory." It was also decided to
acquire land and buildings at Vikhroli. With severe import restrictions hampering
production, the company decided to commence manufacturing the basic chemicals
required for pharmaceuticals.
In 1946, Cipla's product for hypertension, Serpinoid , was exported to the American
Roland Corporation, to the tune of Rs 8 lakhs. Five years later, the company entered
into an agreement with a Swiss firm for manufacturing foromycene.
Dr Yusuf Hamied, the founder's son, returned with a doctorate in chemistry from
Cambridge and joined Cipla as an officer in charge of research and development in
1960.
In 1961, the Vikhroli factory started manufacturing diosgenin. This heralded the
manufacture of several steroids and hormones derived from diosgenin.
The whole of Cipla was plunged into gloom on June 23, 1972 when Dr K A Hamied
passed away. The Free Press Journal mourned the death of a "true nationalist,
scientist and great soul…. The best homage we can pay to him is to contribute our
best in the cause of self-reliance and the prosperity of our country in our fields of
endeavour."
milestones
2000
Cipla became the first company, outside the USA and Europe to launch CFC-free
inhalers – ten years before the deadline to phase out use of CFC in medicinal
products.
2002
Four state-of-the-art manufacturing facilities set up in Goa in a record time of less
than twelve months.
2003
2005
Set-up state-of-the-art facility for manufacture of formulations at Baddi, Himachal
Pradesh.
2007
Set-up state-of-the-art facility for manufacture of formulations at Sikkim.
Board of Directors
Founder
Dr. K.A. Hamied
(1898-1972)
Non-Executive Directors
Mr. V.C. Kotwal
Dr. H.R. Manchanda
Mr. S.A.A. Pinto
Mr. M.R. Raghavan
Mr. Ramesh Shroff
Mr. Pankaj Patel
Code of Conduct
As required under revised Clause 49 of the Listing Agreement the following code of
conduct has been approved by the Board of Directors and is applicable to the
Directors and Senior Management of the Company.
1. Ethical conduct
All directors and senior management employees shall deal on behalf of the
Company with professionalism, honesty, integrity as well as high moral and
ethical standards. Such conduct shall be fair and transparent and be perceived to
be as such by third parties.
2. Conflict of interest
Any director or senior management employee of the Company shall not engage
in any business, relationship or activity, which might detrimentally conflict with
the interest of the Company
3. Transparency
All directors and senior management employees of the Company shall ensure that
their actions in the conduct of business are totally transparent except where the
needs of business security dictate otherwise. Such transparency shall be brought
about through appropriate policies, systems and processes
4. Legal compliance
All directors and senior management employees of the Company shall at all times
ensure compliance with all the relevant laws and regulations affecting operations
of the Company. They shall abreast of the affairs of the Company and be kept
informed of the Company's compliance with relevant laws, rules and regulations.
In the event that the implication of law is not clear, the course of action chosen
must be supported by eminent legal counsel whose opinion should be
documented
6. Cost consciousness
All the directors and senior management employees of the Company should
strive for optimum utilization of available resources. They shall exercise care to
ensure that costs are reasonable and there is no wastage. It shall be their duty to
avoid ostentation in Company expenditure.
7. Confidential information
All directors and senior management employees shall ensure that any confidential
information gained in their official capacity is not utilized for personal profit or
for the advantage of any other person. They shall not provide any information
either formally or informally to the press or to any other publicity media unless
specifically authorized to do so. They shall adhere to the provisions of SEBI
(Prohibition of Insider Trading) Regulations, 1992.
Technology Services
Consulting - preparation of product and material specifications evaluation of
existing production facilities to meet GMP definition of appropriate plant size
and technology.
Engineering - design of plant layout basic and detail engineering blue prints for
civil engineering works.
Plant supply - supply of plant equipment supervision of erection and start up.
With its 70-year record of impeccable quality, Cipla is a trusted name in over 170
countries. Cipla's extensive range of pharmaceutical and personal care products
have brought health and happiness to millions of people the world over –
combining technology and quality with affordability.
Cipla now provides a range of innovative Flavours, which bring a unique taste
sensation to foods and beverages, and fragrances that deliver the right olfactive
signal.
Cipla Flavours are used widely across the food and beverages and pharmaceutical
industry from fruit juices and medicinal liquids to baked goods and oral hygiene
products.
Cipla Fragrances have a variety of applications ranging from personal care
products to laundry detergents and room fresheners.
Global Presence
Exports for the financial year ended March 31, 2009 amounted to more than Rs.
27,500 million. Cipla exports raw materials, intermediates, prescription drugs, OTC
products and veterinary products. Cipla also offers technology for products and
processes. Technical know-how/fees received during the year 2008-09 amounted to
about Rs. 2200 million .
Cipla's manufacturing facilities have been approved by the following regulatory
authorities:
Food and Drug Administration (FDA), USA
Medicines and Healthcare products Regulatory Agency (MHRA), UK
Therapeutic Goods Administration (TGA), Australia
Medicines Control Council (MCC), South Africa
National Institute of Pharmacy (NIP), Hungary
Pharamaceutical Inspection Convention (PIC), Germany
World Health Organisation (WHO) Department of Health, Canada
State Institute for the Control of Drugs, Slovak Republic ANVISA, Brazil
In vitro studies using human recombinant muscarinic receptor subtypes show that
darifenacin has greater affinity for the M 3 receptor than for the other known
muscarinic receptors (9- and 12-fold greater affinity for M 3 compared to M 1 and
M 5 , respectively, and 59-fold greater affinity for M 3 compared to both M 2 and M
4 ). Due to the M 3 selectivity, darifenacin is not associated with cognitive adverse
events. This is important specially while selecting antimuscarinics for the treatment
of older patients.
Composition
Vesigard 7.5 Extended-Release Tablets
Each tablet contains:
Darifenacin hydrobromide….. 7.5 mg
Vesigard 15 Extended-Release Tablets Each tablet contains:
Darifenacin hydrobromide….. 15 mg
Indications
Vesigard extended-release tablets are indicated for the treatment of overactive
bladder with symptoms of urge urinary incontinence, urgency and frequency
Vesigard extended-release tablets should be taken once daily along with any liquid.
They may be taken with or without food, and should be swallowed whole and not
chewed, divided or crushed.
Available as:
Vesigard – 7.5
Strip of 10 tablets
Vesigard – 15
Strip of 10 tablets
Highlights:
• Highest M 3 selectivity
• Established long term efficacy and safety over 2yrs
• Dose titration improves compliance by giving flexibility of dosing
• Improves Quality of Life
• Established Cardiovascular and CNS safety
It has highest aqueous humor concentration (of 669.9 ng/ml) compared to other
ophthalmic steroids with a clinical cure rate of 68%, treating external ocular
inflammatory conditions of the eye.
Moxifloxacin has
Indications
Ocular steroids are indicated in inflammatory conditions of the palpebral and bulbar
conjunctiva, cornea and anterior segment of the globe where the inherent risk of
steroid use in certain infective conjunctivitis is accepted to obtain a diminution in
edema and inflammation. They are also indicated in chronic anterior uveitis and
corneal injury from chemical radiation, or thermal burns, or penetration of foreign
bodies. The use of a combination drug with an anti-infective component is indicated
where the risk of infection is high or where there is an expectation that potentially
dangerous numbers of bacteria will be present in the eye.
The combination can also be used for post-operative inflammation and any other
ocular inflammation associated with infection.
One or two drops of Combace instilled into the conjunctival sac(s), every 4 to 6
hours. During the initial 24 to 48 hours, the dosage may be increased to 1 or 2 drops
every two hours.
Combace Highlights:
Currently the use of ß-lactamase inhibitors is the most successful strategy to restore
the efficacy of ß-lactam antibiotics. Accumulating experience with ß-lactam/ß-
lactamase inhibitor combinations has resulted in a better appreciation of their role in
clinical practice. Importantly, they are indicated for the empirical treatment of a
variety of infections, particularly against mixed infections involving anaerobes and
against certain multi-resistant pathogens responsible for nosocomial infections.
When compared with more conventional regimens, ß-lactam/ß-lactamase inhibitor
combinations are relatively well tolerated and are at least as efficacious if not
superior. The available oral formulations also provide convenient outpatient or step-
down therapy against susceptible pathogens.
Cefixime is distinguished by its 3-hour elimination half life which permit twice daily
or in many instances once daily administration.
Several trial have established the clinical efficacy of the drug in patients with lower
respiratory tract infection ( LRTI ).In comparative studies cefixime had similar
efficacy to amoxicillin plus clavulanic acid ,cefaclor, cefalexin, cefuroxime axetil
and clarithromycin. Cefixime also have a role as the oral component of intravenous
to oral switch therapy.
In common with cephalosporins such as cefotaxime and beta lactam agent like
latamoxef cefixime is stable to hydrolysis by a wider range of beta lactamases than
cephalexin, cephradine and cefadroxil and beta lactamase stability was similar to
that of ceftizoxime.
Clavulanic acid was the first clinically useful ß-lactamase inhibitor to be described
in the literature, and is an irreversible ‘suicide' inhibitor of intracellular and
extracellular ß-lactamases, demonstrating concentration-dependent and competitive
inhibition. It has a high affinity for the class A ß-lactamases. This wide range of ß-
lactamases, which includes the plasmid-mediated TEM and SHV enzymes, is found
frequently in members of the Enterobacteriaceae, Haemophilus influenzae and
Neisseria gonorrhoeae . The chromosomally mediated ß-lactamases of Klebsiella
pneumoniae , Proteus mirabilis , Proteus vulgaris , Bacteroides fragilis and
Moraxella catarrhalis are also inhibited, as are the extended-spectrum ß-lactamases.
The frequency of ß-lactamase mediated resistance has continued to rise over the
years, but the majority of clinically significant ß-lactamases are inhibited by
clavulanate.
Excellent protection was afforded to beta lactam antibiotic when clavulanic acid was
added to gram-negative, gram-positive, and anaerobic organisms initially resistant to
this labile antibiotic.
1. Greater activity against both gram positive & gram negative pathogens
including high beta lactamase enzyme producers
2. Excellent protection to beta lactam antibiotics from both intracellular &
extracellular beta lactamase enzymes
3. Synergistic effect as result of complementary binding to penicillin binding
proteins (PBPs)
4. High Beta lactamase stability with minimal resistances
5. Favorable pharmacokinetic properties with good distribution into most of the
respiratory tissues.
6. Well tolerated safety profile
7. Enhanced patient compliance as once to twice daily dosage adequate to treat
infection
INDICATIONS
CLACENT is indicated for the treatment of:
Respiratory tract infections – Bronchitis, Bronchiectasis, Pneumonia
ENT Infections – Chronic Maxillary Sinusitis, Chronic Otitis Media
Urinary tract infections – Acute uncomplicated and complicated urinary tract
infection
Interpretation
The current assets of the company had increased from1072.17 to 2593.5 from
2004 to 2008, and the current liabilities had increased from 441.30 to 980.00 and
long term debts have also increased which indicates long term plan expansion,
and company is also able to meet its liquidity position.
Suggestions
Annexure