directors - Colombo Stock Exchange

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GloSSarY of FINANCIAL TERMS Accounting Policies Specific principles, bases, conventions, rules and practices adopted by an enterprise in preparing and presenting Financial Statements. Accrual Basis The principle that revenues and costs are matched with one another, irrespective of the period of receipt or payment. Amortisation The systematic allocation of the depreciable amount of an intangible asset over its useful life. Asset Turnover The Amount of sales generated for every Rupee worth of assets. It is calculated by dividing sales by assets. Basic Earnings per Share Profit attributable to ordinary shareholders dividend by the weighted average number of shares in issue. Borrowings All interest bearing liabilities. Capital Employed Total assets less interest free liabilities, deferred income and provisions. Capital Reserves Reserves identified for specific purposes. These reserves cannot be distributed to shareholders in the form of dividends. It consists of Revaluation Reserve arising from the revaluation of properties owned by the Company. Cash Equivalents Liquid investments with original maturity periods of three months or less. <strong>Colombo</strong> Consumers’ Price Index – (CCPI) Measure of the average price of consumer goods and services purchased by households, determined by measuring a standard group of goods & services meant to represent the typical basket of goods of a working class urban consumer. The percentage change in the CCPI is a measure of inflation. Contingent Liabilities A condition or situation at the Balance Sheet date of which the financial effect will be determined only on the occurrence, or non-occurrence of one or more uncertain future events. Current Ratio Current assets divided by current liabilities. Debt/Equity Ratio Ratio between interest bearing borrowings and shareholders’ equity. Deferred Taxation The net effect on items which have been included in the Income Statements, which would only qualify for inclusion on a tax return at a future date. Dividend Cover Profit attributable to ordinary shareholders divided by dividend. This measures the number of times dividend is covered by distributable profit. 180 ANNUAL REPORT 2009/10 DIESEL & MOTOR ENGINEERING PLC Dividend Pay out Ratio The percentage of earnings paid to shareholders in dividends. Dividend Yield The yield a company pays out to its shareholders in the form of dividends. EBIT Earnings before interest and tax. EBITDA Earnings before interest, taxes, depreciation and amortisation. Effective Rate of Tax Provision for tax excluding deferred tax, divided by net profit before tax. Equity Shareholders’ funds. <strong>Exchange</strong> Gain/Loss The increase/decrease in value of foreign currency denominated assets and liabilities when converted to or realised/settled in local currency during the year. Financial Leverage A measure of how an entity used its debt capital to finance its assets, calculated as Total Assets divided by total shareholders’ equity. Gearing Borrowings to capital employed. Gross Domestic Product - GDP Market value of all finished goods and services produced within a country in a given period of time. Gross Dividend The portion of profit including tax withheld, distributed to shareholders. Gross Profit Ratio The percentage of gross profit to net turnover. Impairment This occurs when recoverable amount of an asset is less than its carrying amount. Interest Cover This indicates the ability of an entity to cover long-term and short-term interest expenses with EBIT. This is calculated as EBIT divided by long-term and shortterm interest expenses. Notes to the Financial Statements 141 Ten year Summary 165 Share Information 166 Network of Branches, Workshops & Showrooms 170
DIESEL & MOTOR ENGINEERING PLC ANNUAL REPORT 2009/10 Key Performance Indicators (KPI) Are quantifiable measurements, agreed to before hand that reflect the critical success factors of a company. Market Capitalisation The number of ordinary shares issued multiplied by the market price of each share at a given date. Materiality The principle that Financial Statements should separately disclose items which are significant enough to affect evaluation or decision of users. Net Assets per Share Shareholders’ funds divided by the weighted average number of ordinary shares in issue. Net Profit Margin Net profit as a percentage of net turnover. Price Earning Ratio Market price of a share divided by earnings per share as reported at that date. Related Parties Parties who could control or significantly influence the financial and operating policies of the business. Return on Average Capital Employed (ROACE) Reflects the returns that an entity received from its capital. Profit before tax plus net interest cost divided by average capital employed. Return on Equity (ROE) Net Profit as a percentage of shareholders’ equity. G lo S S a rY o f f I n a n c I a l T e r m S Revenue Reserves Reserves available for distribution to shareholders and investments. Rights Issue The raising of new capital by granting existing shareholders the right to subscribe to new shares in proportion to their current holdings. These shares are normally issued at a discount on their market price. Segment A Business unit that is a distinguishable component of the Group and engaged in similar operations. Stated Capital Consists of issued and paid up ordinary shares. Substance Over Form Whether the accounting treatment in the Financial Statements of transactions reflect the financial reality and substance, rather than the legal form of the transaction and event which underlies them. Strategy A course of action, including the specification of resources required, to achieve a specified objective. Total Shareholder Return Represents the change in share value of a listed company over a period of time (typically 1 year), plus dividends, expressed as a percentage of the opening share value. Treasurership The function concerned with the provision and use of finance, it also includes provision of capital, short-term borrowings, foreign currency management, banking, collections and money market investments. Turnover per Employee Consolidated turnover of the Company for the year divided by the number of employees at the year end. Value Added Value added is the wealth created by the operations of the Group. The value is distributed among the employees, shareholders, as financing cost, to the Government by way of taxes and the balance retained within the business. Weighted Average Cost of Capital Calculation of the cost of capital according to the capital (debt/equity) structure. Working Capital Capital required to finance the day-to-day operations computed as the excess of current assets over current liabilities. Historical Note 171 Key Principals 173 Country Report 175 Alphabetical Index 179 Glossary of Financial Terms 180 181
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Annual Report 2009/10 DIESEL & MOTO
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Vision To be the leader in all the
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Contents Overview Financial Highlig
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oVerView operational hIGhLIGhTS Har
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oVerView CHairMan & Ceo’s REvIEW
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oVerView 12 C H a i r M a n & Ceo
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Overview Board of DIRECTORS ANNUAL
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Overview Group ManaGeMent COMMITTEE
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ManageMent report Business PERFORMA
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ManageMent report The performance o
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ManageMent report Tata Commercial V
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ManageMent report We continue to ex
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ManageMent report A Year of Importa
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ManageMent report Performance Dimo
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ManageMent report The Business unit
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ManageMent report The division has
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ManageMent report FinanCial REvIEW
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ManageMent report Finance Expenses*
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ManageMent report Working Capital T
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ManageMent report Segment Performan
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goVernance report enterprise GOvERN
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goVernance report SECTION 1: THE CO
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goVernance report The Company Secre
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goVernance report The Committee con
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goVernance report RELATIONS WITH SH
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goVernance report e n t e r p r i s
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goVernance report CHairMan & Ceo’
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goVernance report Risk Management A
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goVernance report Industry Trends D
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goVernance report tHe reMuneration
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goVernance report group STRUCTURE 1
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FINANCIAL CALENDAR Interim Financia
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Page 82 and 83: income stAteMeNts 136 Consolidated
Page 84 and 85: statements oF ChANGes IN eqUIty 138
Page 86 and 87: cash Flow statements Reconciliation
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Page 90 and 91: notes to the Financial statements T
Page 92 and 93: notes to the Financial statements A
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Page 102 and 103: notes to the Financial statements T
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Page 112 and 113: Share INFORMATION 1. Stock Exchange
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Page 116 and 117: neTwork of BRANCHES, WORKSHOPS & SH
Page 118 and 119: h I STo r I c a l n oT e The key at
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Page 124 and 125: co u n T rY r e p o rT Expectation
Page 128 and 129: corporaTe INFORMATION Name of the C
Page 130 and 131: The creative approach we adopted fo
Page 132: f o r m o f p rox Y Instructions as
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directors - Colombo Stock Exchange

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