Fsav Lafarge Essay

3729 Words Aug 7th, 2014 15 Pages
| Financial Statement analysis and ValuationHeidelberg Cement Bangladesh Limited | | 7/22/14 | F401 | |

Course Instruction
Financial Statement Analysis and Valuation

Submitted to
Dr. Mahmood Osman Imam
Department of Finance
University of Dhaka

Submitted by
Md. Faraz Hassan

Member of
Section: B
Department of Finance
University of Dhaka

Submission Date: 22-July-2014

Letter of transmittal
22 July, 2014
Dr.Mahmood Osman Imam
Department of Finance
…show more content…
Reformulation of financial statements: 14 5.1 Reformulated Balance sheet: 14 6. Valuation: 17 7. Conclusion 19 8. References 20

Executive Summary
This report shows an overall picture of the cement industry of Bangladesh and the thorough analysis of financial statements of Heidelberg Bangladesh Limited. In this report, the information is taken mainly from the annual reports of the company. It also tries to show growth and performance of cement industry in Bangladesh and the given company. For the purpose of the report, the corporate websites have been used as source of information for the companies. In order to judge properly the quality and growth of Heidelberg cement, I have taken Heidelberg Bangladesh Cement Ltd. for peer analysis.
In this report, the reformulated balance sheets, income statements for the last five years have been attached. It also includes a comparative analysis of Balance Sheets and Income statements in terms of common-size and trend. After that, it has also presented a free cash flow and value of the firm in terms of FCF.
One of the most significant parts of this report is the analysis of profitability and growth. Three level breakdown of ROCE and analysis of drivers can give a deeper insight about the company. This report concludes the other drivers such asoperating profitability, financial leverage and the operating spread etc. While analysing Growth and Sustainable Earnings, the analysis of changes in

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