Balance Sheet Analysis by SBP

BALANCE SHEET ANALYSIS
OF
JOINT STOCK COMPANIES
LISTED ON THE KARACHI STOCK EXCHANGE
(2003-2008)
STATE BANK OF PAKISTAN

STATISTICS AND DWH DEPARTMENT
Contents
Page No.
Introduction i
Methodology ii - x
Executive Summary xi – xv
Key Performance Indicators xvi
Analytical Tables and Profiles:
I. Sectors
(a) Overall 1–2
(b) Private 3-4
(c) Public 5-6
II. Economic Groups
1. Textile & Other Textiles
(a) Textiles 7 - 252
(b) Other Textiles 253- 288
2. Chemicals 289 – 345
3. Engineering 346 – 408
4. Sugar & Allied Industries 409 – 466
5. Paper & Board 467 – 485
6. Cement 486 – 520
7. Fuel & Energy 521 – 565
8. Transport & Communication 566 – 586
9. Other
(a) Tobacco 587 – 596
(b) Jute 597 – 609
(c) Vanaspati & Allied Industries 610 – 623
(d) Miscellaneous 624 – 712
III. Appendix:1 714 - 717
Appendix:2 718- 719
Statistics & DWH Department
Corporate Division
Team Members
 Dr. Ishaque Ahmed Ansari Sr. Joint Director

ishaque.ahmed@sbp.org.pk
 Sajjad Hussain Joint Director

sajjad.hussain@sbp.org.pk
 Muhammad Jaweed Akhtar Jr. Joint Director

muhammad.jaweed@sbp.org.pk
 Muhammad Suhail Jr. Joint Director

suhail.laghari@sbp.org.pk
Supervisor
 Dr. Azizullah Khattak Director

aziz.khattak@sbp.org.pk
Introduction
I. Preliminaries
The analysis is based on the published balance sheets of non-financial companies listed at the
Karachi Stock Exchange during the year 2008. For the purpose of comparison, the analysis of the previous
five years is also included in the publication. The number of companies included in the statistical analysis
varied from year to year. All the listed companies (except financial sector) during 2008 have been
classified into economic groups. Tobacco, Jute, Vanaspati & allied and Other groups have been included
into the miscellaneous group. The year-wise distribution of companies classified according to the
respective economic group is as under: -
Table: 1 Distribution of companies by economic groups.
Years
Economic Groups
2003 2004 2005 2006 2007 2008
Cotton and Other Textiles 199 189 182 181 180 182
Chemicals 38 36 34 34 34 35
Engineering 44 42 41 41 41 40
Sugar and Allied Industries 37 35 35 35 36 35
Paper and Board 13 12 12 10 10 10
Cement 22 22 22 22 20 21
Fuel and Energy 24 25 28 28 27 27
Transport 7 13 15 12 12 12
Miscellaneous 79 77 74 73 77 74
Total: 463 451 443 436 437 436
During 2008, three companies were added whereas nine companies were excluded from the analysis.
Five companies, which are in the default counter of KSE, were also included in the analysis (due to the
availability of audited annual reports of the current year and consecutive previous years).Annual reports
of thirty four companies (mostly on default counter of KSE) were not available at the time of the analysis
therefore, to present a comparable and consolidated picture the last available data in respect of these
companies have been repeated.
The sum of Assets and Liabilities of a company may exhibit minor differences due to rounding off
separate items. Ratios and percentages have been worked out after rounding off the figures in thousands,
which may, therefore, slightly differ from ratios obtained from actual amount of balance sheet. The
symbol ‘ – ‘ appearing in the analytical tables stand for Not applicable or Not available.
The publication is based on the two sets of analysis:
(a) Overall summary:

This gives the consolidated financial analysis of companies listed at KSE.
(b) Company-wise analysis:

This provides financial analysis of the individual companies.
II. Methodology
A. Capital Structure
1. Ordinary Share Capital
This represents the total paid-up capital against issue of ordinary shares. These are amounts of capital
actually paid by the shareholders to the institution for acquiring its shares. It includes shares paid in
cash (subscribed/right issued), issued as bonus shares and shares issued for considerations other than
cash (eg. for settlement of receivables/debts or debts redeemable into stock etc.).
2. Reserves
It is evaluated by aggregating all kinds of reserves except depreciation reserve and reserve for bad and
doubtful debts plus the balance of profit and loss account and subtracting there from intangible or
fictitious assets (e.g., goodwill, preliminary expenses, exploration accounts, patents, trade mark) and
adverse balance of profit and loss figures. The reserves entering into the calculation are: -
(i) General
(ii) Capital
(iii) Development
(iv) Dividend equalization
(v) Proposed issue of bonus shares
(vi) Profit on re-issue of forfeited shares
(vii) Premium on shares
(viii) Capital profit arising from the sale of fixed assets
(ix) Special reserves under relevant provision of Income Tax Act
(x) Raw material price equalization
(xi) Tax equalization
(xii) Contingency
(xiii) Leave passage
(xiv) Workmen‟s compensation fund
(xv) Gratuity, pension or provident fund
(xvi) Investment depreciation but not including provision for actual shortfall of market value as
compared with book value
(xvii) Publicity
(xviii) Employees‟ housing and welfare fund
(xix) Charities
(xx) Deferred liabilities
(xxi) Taxation reserves including deferred taxation reserves, but not including provision for tax
assessed or estimated on actual or part of profits.
3. Shareholders’ Equity
This item purports to represent the total stake of the shareholders in the business and has been
obtained by adding the ordinary share capital to the surplus.
4. Preference Shares
As the name indicates these are ordinary shares of a company and pays a fixed dividend (whether the
company is earning profit or making loss during operation), but its shareholders have no voting privilege.
In case of liquidation of the company its status is normally considered prior to the status of ordinary
shareholders. The difference between ordinary shares and preference shares is as follows:
ii
a) Ordinary shareholder will receive dividend, which varies according to the prosperity of the
company but preference shareholder will receive a fixed amount dividend every year.
b) Ordinary shareholder has a right of voting in the company‟s annual general meeting while the
preference shareholder has no voting right.
c) Ordinary shareholders have to claim on the net assets of the company in case of liquidation,
while the claim of the preference shareholders is paid earlier.
5. Debentures / TFC’s
These are bonds/certificates issued by a company to raise funds for long-term period (generally more
than one year) for a specific purpose, sometimes convertible into stock. At present, debentures have
been replaced by TFC‟s (Term Finance Certificates).
6. Other Fixed Liabilities
The liabilities, which are required to be discharge after a period of more than one year from the date of
balance sheet, are termed as other fixed liabilities or loan capital. They may consist of the
following items:
(i) Loans from financial institutions.
(ii) Loans from non bank financial institutions.
(iii) Loans from specialized financial institutions
(iv) Foreign loans
(v) Vendors‟ account
7. Total Fixed Liabilities
It is the sum of the preference shares, debentures and other fixed liabilities.
8. Total Capital Employed
It is the sum of shareholders‟ equity and total fixed liabilities.
B. Liquidity
1. Current Assets
An asset is to be a current asset, which can be readily convertible into cash or equivalent without any
significant loss in value. The current assets comprise of liquid assets, inventories and other current
assets.
a) Liquid Assets
Broadly speaking, liquid assets comprise of all assets like cash, bank balance, marketable security, etc.,
which are easily realisable almost at book value. While there can not be two opinions regarding the
status of cash, current accounts and government securities in this context, the treatment of savings and
fixed deposits and of shares of joint stock companies not quoted on stock exchange leaves the analyst
in doubt. The classification of borderline cases had therefore, to be made partly in keeping with the
iii
objective of the analysis and partly on one‟s own subjective judgment. For this study, liquid assets that
are also sometimes referred to as liquid capital have been bifurcated as cash and investments
and comprise of the following items: -
(i) Cash in hand
(ii) Cash in transit
(iii) Current deposits
(iv) Saving deposits
(v) Call deposits
(vi) Fixed deposits
(vii) Deposits held abroad
(viii) Government and corporate securities
(ix) Savings and Unit Trust Certificates
(x) Debentures stock of local or foreign companies
b) Inventories
It comprises of stocks of raw material in hand, work in progress and finished goods at the closing
date
c) Other Current Assets
The following items are taken as other current assets:

(i) Book debts including bad and doubtful debts
(ii) Stores
(iii) Work in progress(current)
(iv) Advances, prepayments, etc.
9. Current Liabilities
All liabilities, which are required to be discharge within one year, are termed as current liabilities.
Alternatively, these cover those obligations whose liquidation is expected to be made out of current
assets. They are usually incurred in the normal course of business and are required to be paid at fairly
definite dates. The current liability consists of the following items.
(a) Sundry Creditors
(i) Income tax payable

(ii) For expenses
(iii) For other finance
(iv) Bills payable
(v) Advances from customers against orders
(b) Payment become due but outstanding
(i) Income tax payable

(ii) Proposed, unpaid and unclaimed dividends
(iii) Estimated liabilities in respect of outstanding claims whether due or intimated
(iv) Gratuities becoming payable
(v) Provident Fund becoming payable
(vi) Current installment and interest payable on fixed liabilities
(vii) Provision for taxation estimated on current profits
(viii) Workers profit participation fund
iv
(c) Loans, Deposits and Advances
(i) Loans secured by stock or other current assets

(ii) Bank overdrafts and other unsecured loans
(iii) Short term loans acquired against the security of fixed assets
(iv) Unsecured loan from directors, parent company, and subordinate loan
(v) Due to managing agents
(vi) Advances by directors
(vii) Guarantee and security deposits of customers and staff
10. Total Liabilities
This item pertains to sum of total fixed liabilities and current liabilities except shareholder‟s equity.
11. Net Current Assets
It has been obtained by deducting the amount of current liabilities from current assets.
12. Contractual Liabilities
This item pertains to all secured debentures, long-term loans, finance lease, short term secured loans
and bank overdraft (Interest bearing secured loans).
13. Net Liquid Assets
This is the difference of liquid assets and the current liabilities.
C. Fixed Assets
1. Fixed Assets at Cost
In contra distinction to current assets, fixed assets consist of items, which are not readily convertible
into cash during the course of normal operations of an enterprise. These items are not subject to
periodical exchange through sales and purchases. Fixed assets are of permanent nature and are not
normally liquidated or intended to be turns into cash except in the form of depreciation, which is
added to the cost of goods sold. The following balance sheet items are included in the category of
fixed assets: -
(a)Real Estate
(i) Freehold and leasehold land

(ii) Factory and office buildings
(iii) Residential buildings
(iv) Capital projects in progress at cost
(b)Plant, Machinery and Rolling Stock
(i) All types of plant and machinery used for production and not for sale
(ii) Crockery, cutlery, silverware and enamelware in hotels
(iii) Construction tools
(iv) Livestock in farming company
(v) Cars, lorries, trucks, ships, launches etc.
(vi) Railway siding and trolley lines
(vii) Computers and other electronic equipments.
v
(c) Furniture, Fixtures, Fittings and Allied Equipment
(i) Electric fans, refrigerators, air conditioners, electric heating, sanitary and other
fittings.
(ii) Laboratory equipment
(iii) All types of office furniture‟s and equipment
(iv) Advertising, fixtures and fittings.
2. Fixed Assets After Deducting Accumulated Depreciation
Deducting the accumulated depreciation from the fixed assets of the company gives this item.
3. Depreciation for the year
It includes all the depreciation charges to the profit and loss account during the year. Owing to the
absence of uniform accounting standards, depreciation is a subjective item and very from company to
company. It is important for the analyst to know what effect such variation could have on the net
profit.
4. Total Assets
This item is sum of fixed assets at cost after deducting accumulated depreciation, and current assets.
D. Operations
1. Gross Sales
This item represents the sale proceeds of the company. Sales revenue is classified as local sales and
export sales.
2. Gross Profit
Subtracting cost of sales from sales revenue arrives at gross profit.
3. Overhead and Other Expenses
These are total expenses that are incurred on the operational activities of a company except financial
expenses and include:
(i) Cost of sales
(ii) Administrative and general expenses
(iii) Selling and distribution expenses
(iv) Other expenses
5. Operating Profit
Subtracting overhead and other expenses from gross sales and adding thereto-non-operating income
gives operating profit.
6. Financial Expenses
These are interest expense incurred on borrowing of long and short terms loans. It includes the
following items;
vi
(i) Mark-up and interest on long term loan
(ii) Mark-up and interest on debentures and redeemable capital
(iii) Mark-up and interest on short term loan
(iv) Interest on private loan
(v) Financial charges against assets subject to finance lease
(vi) Interest and mark-up on supplier credit
(vii) Interest on worker‟s profit participation fund.
(viii) Bank charges and commission.
(ix) Excise duty on long and short-term finance.
(x) Discounting charges on receivables.
(xi) Exchange losses.
7. Net Profit before Tax Provision
It is the profit earned by the company during the year before tax provision.
8. Tax Provision
It is provision of taxation made on current year‟s profit.
9. Total Amount of Dividend
It is the total dividend including interim dividend distributed or proposed to be distribute out of the
current year‟s profit
10. Total Value of Bonus Shares Issued
This is the total amount of bonus shares issued to the shareholders as appropriation net profit after tax of
the company during the year.
E. Source of Increase in Capital Employed
1.Increase/ Decrease in Capital Employed
The difference in value of total capital employed (i.e., share capital, surplus, preference capital,
debentures and other fixed liabilities) at the beginning of the year and the corresponding figures at the end
of the year and shown as increase (+)/ decrease (-).
2. Retention in Business
This item is obtained by deducting the provision for the tax and the total dividend distributed or
proposed to be distributed from the net profit for the year.
3. Finance from outside the company
The difference between the increase in the capital employed and the retention in the business is the
finance from out side the company. It is possible for this item to be negative. Indeed in some
circumstances it is also possible for the increase in the capital employed as well as the retention in
business to be negative, for instance where dividends are distributed not out of the current earnings but
out of the reserves.
vii
F. Cash Flow Data
1. Depreciation for the year plus Retention in Business
The total funds that corporation generates internally for investment in the modernization and
expansion of plant and equipment.
2. Depreciation for the year plus changes in Capital Employed
Depreciation for the year is added in the difference of two successive years‟ figures of total capital
employed.
G. Operating Financial & Investment Ratios
1. Gearing Ratio
This item shows the proportion that the fixed loan capital bears to the total capital employed.
Where there is preference capital, there is an item of Gearing i.e., the fixed loan capital plus the
preference capital as the ratio of the total capital employed. The justification for taking the
preference capital together with the fixed liabilities is that, from the ordinary
shareholders‟ point of view, both items represent a fixed charge on the profits. Total capital
employed is shareholders equity plus total fixed liabilities. Gearing becomes inapplicable
when the shareholders‟ equity becomes zero or negative.
2. Current Ratio
This item tells a lender about the liquidity of the assets and as a result its ability to pay the short - term
debts.
3. Acid Tests or Quick Ratio
The acid test or quick ratio is used to determine how quickly a company would be able to pay off its
current liabilities if it needs to convert its “quick” assets into cash.
4. Debt Equity Ratio
In debt equity ratio, the total debt is compared with the shareholder’s equity; the lower the ratio the
better the company’s solvency, the higher ratio is a risk to a present or future creditor.
5. Return on assets
This ratio is considered a measure of how effectively assets are used to generate a return.
6. Self -Financing Ratio
The ratio expresses the amounts retained in business as percentage of increase/ decrease in the capital
employed.
viii
7. Cash Flow Ratio
This ratio has a purpose somewhat similar to the self-financing ratio. The only difference being that it
takes into account the amount of depreciation.
8. Shareholders’ Equity as % of Ordinary Share Capital
It is the shareholder’s equity to the ordinary share capital, which means the stake of ordinary
shareholders in the total equity of the company.
9. Overhead and Other Expenses as % of Gross Sales
It shows the ratio of overhead and other expenses to the gross sales. This is an important ratio, which
indicates the contribution of operating expenses in the operating revenue through sales of the
company. Lowering the percentage, the company is more viable and efficient.
10. Financial Expenses as % of Operating Profit
This shows the ratio of financial expenses to operating profit. It identifies how much weight the
company will bear from its operating profit before reaching to the net profit before tax. Smaller ratio is a
good for a company.
10. Financial Expenses as % of Gross Sales
It shows the ratio of financial expenses to gross sales. Lowering the ratio indicates the financial
discipline of the company and the increasing ratio indicates that the company is facing financial
expense burden out of its gross sales revenue
11. Financial Expenses as % of Contractual Liabilities
It shows cost incurred (interest/mark up paid) on contractual liabilities.
13. Tax Provision as % of Net Pre-tax Profit
It shows the portion of net profit set aside for tax provisions.
14. Sundry Debtors as % of Gross Sales
It is the ratio of outstanding credit (all sales receivables) to the total sale proceeds of the company.
Higher the percentage, the company is increasing its debtors and credit risk and reducing its liquidity
position.
15. Net Profit as % of Shareholders’ Equity
It is worked out by dividing the net profit before tax by the shareholder’s equity, expressing the result in
percentage.
ix
H. Key Performance Indicators
1. Dividend Cover Ratio
The ratio of net profit after tax to total amount of dividend.
2. Dividend Ratio to Equity
This item has been worked out by dividing the total amount of dividend by the shareholder’s equity,
expressing the result in percentage.
3. Net Profit Margin.
This ratio shows how much profit comes from every rupee of sales.
4. Earning per Share
It has been arrived by dividing the net profit (before/after tax) by the number of ordinary shares.
5. Average annual % Depreciation on Written Down Fixed Assets
This item is simple depreciation rate and is intended to give some idea of the company‟s practice
with regard to depreciation. Since there are so many items in the fixed assets schedule, it is not
practicable to calculate depreciation rate for all the items individually. Therefore, an aggregate
depreciation rate for all the item taken together has been worked out. The method is to take total
depreciation provided during the financial year and dividing it by the written down value of the total
fixed assets at the beginning of the financial year. The result is expressed in percentage.
6. Sales as % of Total Assets
This item indicates how efficiently the business of a company generates sales on each rupee of assets.
7. Sales Growth (Current Year’s Sales - Last Year’s Sales)
Sales growth is the percentage increase or decrease in sales between two time periods.
8. Break-up Value of Ordinary Shares
It is obtained by dividing the sum of ordinary share capital and the surplus by the number of ordinary
shares.
x
Executive Summary
The non-financial companies listed at Karachi Stock Exchange (KSE) showed

consistently upward growth drive from 2002 to 2006 but a declining trend was
observed during 2007 which continued during the year 2008, though an increase was
observed in total capital employed, liquidity, working capital, fixed assets, operational
activities, etc. especially in sugar and fuel & energy sectors and depression in the
areas of textile, other textile, transport & communication sectors, tobacco, paper &
board, engineering, chemicals and cement were seen. Brief review of the important
indicators during years 2007 and 2008 is given below.
Capital Structure
Total paid up capital of ordinary shareholders increased by Rs.24.91billion or 6.32
percent from Rs.394.51 billion in 2007 to Rs.419.42 billion in 2008, where as it was
increased by Rs.22.17 billion or 5.96 percents in 2007 over 2006. Sector wise position of
capital structure is as under:
Total Capital Employed by Economic Sectors
(Million Rupees)
TOTAL CAPITAL EMPLOYED
ECONOMIC SECTOR 2008 2007 CHANGE (%)
Cotton Textile 210,425 207,983 1.17
Other Textile 31,678 33,888 -6.52
Chemicals 149,922 133,814 12.04
Engineering 84,344 76,692 9.98
Sugar and allied industries 32,008 29,075 10.09
Paper and board 40,919 40,676 0.60
Cement 186,979 167,909 11.36
Fuel and energy 400,534 359,027 11.56
Transport and communications 198,484 205,161 -3.25
Tobacco 9,612 9,584 0.29
Jute 5,386 3,385 59.11
Vanaspati and allied industries -1,225 -1,053 -16.34
Others 64,145 49,118 30.59
Total 1,413,209 1,315,258 7.45
Total shareholder’s equity increased by 2.80 percent from Rs.953.0 billion to

Rs.979.69 billion during 2008. Total fixed liabilities increased by 19.67 percent from
Rs.362.25 billion in 2007 to Rs. 433.51 billion in 2008. A comparison of growth, in
the compositions of capital structure in the current year with that of the previous year yields:
2008 over 2007 2007 over 2006

Shareholders equity 2.80 % 9.08 %
Total fixed liabilities 19.67 % 26.34 %
Total capital employed 7.45 % 13.35 %
xi
This shows that decline in the growth have been observed in all areas. The pace of
growth remained sluggish during the year particularly in case of the shareholder’s
equity. The growth of total fixed liabilities remained high. This indicates that the
demand of finance from banks and other financial institutions continued at high side.
The increase in ordinary share capital and reserve & surplus during the year were 6.32
percents and 0.32 percent respectively. The growth in reserves & surplus in the
previous year were 11.40 percent and showed a sharp decline in the current year 2008.
The main sectors contributed in the decline of reserve & surplus were transport &
communication, cement, chemicals, textile and engineering.
Figure 1: Capital Structure of Non-Financial sector-2008
1600 1413.2
1400
1200 979.7
Billion Rupees
1000
800
560.3 433.5
600 419.4
400
200
0
Paid-up Capital Surplus Shareholders Total fixed Total capital
equity liabilities employed
Liquidity
The analysis indicates that the overall liquid assets of non-financial sector increased by
0.18 percent from Rs.409.16 billion in 2007 to Rs.409.91 billion in 2008,whereas the
growth of the
previous year Figure 2: Aggregate Composition of Assets
was 8.63
percent. The 450
400
major increase 350
Billion Rupees
during the year 300

250
was in the 200
sectors of fuel & 150
energy by Rs. 100
50
29.20 billion, 0
miscellaneous 2003 2004 2005 2006 2007 2008
by Rs.3.80 Cash and bank balances 97.23 160.86 188.31 184.14 169.69 167.18
billion and Investments 65.24 80.33 112.57 192.52 239.47 242.73
textile by Liquid Assets 162.47 241.18 300.87 376.66 409.16 409.91
Rs.1.40 billion, Working capital 23.50 95.79 159.71 143.81 154.91 76.45
while a decrease
of Rs.13.20
billion in transport & communication sector, Rs.9.50 billion in engineering sector, Rs.4.60
billion in engineering sector and Rs.3.60 billion in chemical sector have been witnessed.
Cash and bank balance showed a decrease of Rs.2.51 billion i.e.1.48 percent in 2008
against a decrease of 7.85 percent in 2007, whereas short-term investment increased by
xii
1.36 percent to Rs.3.26 billion in 2008 as against an increase of 24.39 percent in 2007. The
position of working capital (net current assets) was Rs.76.45 billion and shows a decrease
of 50.65 percent in 2008 from Rs. 154.91 billion in 2007. Further, it is mentioned that the
total liabilities of corporate sector increased by 31.47 percent i.e Rs.1,845.37 billion in
2008 from Rs.1,403.59 billion in 2007 and financial expenses increased by 44.46 percent
from Rs.67.13 billion in 2007 to Rs.96.97 billion in 2008.
Fixed Assets
The fixed assets after deducting accumulated depreciation (book value) of overall position
amounted to Rs. 1,336.75billion in 2008. The increase was noted to be Rs. 176.41 billion or
15.20 percent
in 2008 over Figure 3: Composition of Assets
the previous 3000
year 2007.
2500
The total
Billion Rupees
assets which 2000

are at 1500
Rs.2,825.06
1000
billion in
2008, show 500
an increase 0
of 19.88 2003 2004 2005 2006 2007 2008
percent in Fixed Assets (book value) 619.78 720.33 858.60 1016.57 1160.35 1336.75
current year Total assets 1129.11 1413.01 1703.46 2048.42 2356.60 2825.06
from Rs.
2,356.60
billion in 2007. This indicates that during current year the amount invested in the capital
expenditure showed a positive growth as compared to the previous year which was 14.14
percent. Comparison of fixed assets (book value) with total assets from 2003 through 2008
is illustrated in figure3.
Operational Activities
The gross sales of all non-financial listed companies were Rs.3,417.23 billion in 2008 as
against Rs.
Figure 4: Gross Sales and Cost of Sales
2,837.92
billion in 2007,
showing an 4000
3500
increase of
3000
Billion Rupees
Rs.633.31 2500
billion or 2000
22.32 percent. 1500
The local sale 1000
increased by 500
Rs.594.92 0
2003 2004 2005 2006 2007 2008
billion or Gross sales 1382.48 1632.83 2031.22 2570.95 2837.92 3471.23
22.60 percent Cost of sales 1172.44 1360.16 1672.72 2166.35 2431.13 2964.60
at Rs.3,227.62
billion in 2008
xiii
against Rs.2,632.70 billion in 2007 whereas the export sales increased by Rs.38.39 billion
or 18.71 percent in the current year. Cost of goods sold stood at Rs.2,964.60 billion in
2008, showing an increase of 21.94 percent compared with the previous year. The gross
profit increased by Rs.99.83 billion or 24.54 percent from Rs.406.80 billion in 2007 to
Rs.506.63 billion in 2008. The major sectors which contributed in the growth of gross
profit during current year were sugar by 143.36 percent, fuel & energy by 50.77 percent
and vanaspati & allied industries by 36.26 percent and sectors which participated in the
gross loss were other textile by 37.63 percent ,transport & communication by 9.31 percent
and other engineering by 8.76 percent. Net profit before taxes, which stood at Rs.229.30
billion in 2007, decreased by Rs.24.30 billion or 14.52 percent to Rs.205.00 billion in
2008. Fuel & energy and sugar & allied sectors showed a profit of Rs. 57.50 billion and
Rs.1.30 billion respectively, whereas a sharp decline in the net profit before taxes has been
witnessed in transport & communication with Rs.55.30 billion, cement with Rs.8.90 billion
and chemicals with Rs.5.90 billion. Out of the profit, the amount retained in the business
were Rs.4.48 billion in 2008 as against Rs.71.08 billion in 2007 showing a decrease of
Rs.66.60 billion or 93.70 percent. The finance inducted from outside source
of the business increased by 9.67 percent at Rs.93.47 billion in 2008 from Rs.83.80
billion in 2007, whereas it increased 22.77 percent in the previous year. This indicates
that overall Figure 5: Net Profit and Retention
non-financial
listed
300
companies,
“expansion of
250
business”
remained 200
Billion Rupees
sluggish
during the 150
year and its
pace remained 100
slow as
compared to 50
the previous
0
year, i.e. 2003 2004 2005 2006 2007 2008
dependencies Net profit (before taxes) 98.90 175.45 224.98 256.70 229.30 205.00
on debts from Retention in business 10.67 52.13 92.28 81.04 71.08 4.48
banks and
financial
institutions
declined due to increasing financial expenses ( as the growth of financial expenses was
noted 44.46 percent in current year as compared to a growth of 36.18 percent in the
previous year) and also contracting their equity base. Return on assets, which was 9.70
percent in 2007 decreased to 7.30 percent in 2008. This shows that the capital market in
the country which started declining, during the previous year, also continued downturn
moment during the current year.
.
xiv
Key Financial Ratios
Sundry debtors ratio to gross sales indicates a growth of 20.45 percent, at 10.60 percent in
2008 from 8.80 percent in 2007. This is not a good sign for corporate business, it means
that the growth of debt receivable on sales have been increased in current year as
compared with the previous year, which was 12.82 percent. Dividend ratio to equity,
Figure 6: Key Financial Ratios
12
10
8
Percent
0
2003 2004 2005 2006 2007 2008
Sundry debtots as % of gross sales 8.00 7.00 7.80 7.80 8.80 10.60
Dividend ratio to equity 11.70 12.40 8.90 11.70 10.20 10.80
which was 10.20 percent in 2007 increased to 10.80 percent in 2008. This is also not a
good indicator, it shows that with a growth of 6.32 percent in paid-up capital, corporate
sectors dividend payout have been grown only by 5.88 percent during the current year. It
is to be noted that companies issued 57.91 percents more bonus shares during the year
2008 as compared with the previous year. Earning per share after tax, which was Rs.4.30
per share in 2007, decreased to Rs.2.60 per share in 2008 (i.e. net decrease of 39.53
percent in the value per share during the current year). The ratio of gross sales to total
assets , which was 120.4 percent in 2007, increased to 122.9 percent in 2008. This is
a positive sign for the growth of corporate sector that rising assets sucessed to promote
more sales, which showed negative relation in the previous year. Overall it is evident that
during the year 2008 the listed companies of non- financial sector shows a mixed trend in
all areas of financial analysis as compared to the previous year.
xv
Table: Key performance Indicators by Economic Groups for the
Year 2008
(Million Rupees)
Economic Groups
Key
Paper and Board
Communications
Sugar and Allied
Allied Industries
Fuel and Energy
Performance
Other Textiles
Textile Sector
Indicators
Transport &
Vanaspati &
Overall
Engineering
Chemicals
Industires
Tobacco
Cement
Others
Jute
Paid -up-Capital 419,424.4 35,318.2 9,392.9 42,072.0 11,371.7 7,334.3 2,164.2 54,881.2 149,185.1 92,442.1 3,188.8 607.6 281.5 11,184.9
Total amount 105,519.8 1,445.1 202.8 15,101.5 3,925.3 521.7 123.9 648.1 74,716.9 791.4 2,999.8 0.0 0.0 5,043.2
of dividend
Total value of 4,730.7 615.1 962.5 205.8 527.0 177.2 105.6 117.1 1,579.9 239.0 0.0 60.9 10.2 130.5
bonus shares issued
Increace/ Decrease(-) 97,950.7 2,441.8 -2,209.5 16,108.4 7,651.1 2,932.9 242.7 19,069.7 41,506.8 -6,676.9 28.1 2,000.9 -172.2 15,027.4
in capitral employed
Dividend cover 104.2 -534.6 -1,233.6 160.0 256.9 54.8 93.8 -739.2 157.4 -5,277.5 129.0 0.0 - 191.4
ratio (%)
Dividend ratio to 10.8 1.1 1.0 13.7 5.4 2.9 0.5 0.5 22.5 0.9 31.2 0.0 0.0 10.1
equity (%)
Net profit 5.9 2.5 -3.5 12.5 5.1 0.9 1.4 -3.9 9.3 -18.2 7.6 9.7 0.0 8.3
margin (%)
Return on equity (%) 20.9 5.8 - 31.6 20.0 4.0 1.4 - 51.9 - 58.8 21.6 - 27.3
Earning per share 4.9 2.2 -2.1 8.3 12.8 1.0 1.5 -0.8 11.5 -4.3 17.7 17.6 0.0 12.1
before tax (Rs./share)
Earning per share 2.6 -2.2 -2.7 5.7 8.9 0.4 0.5 -0.9 7.9 -4.5 12.1 17.5 -1.4 8.6
after tax (Rs./share)
Avg. Annual depreciation 8.3 8.0 10.5 8.5 10.2 6.6 4.6 4.4 8.1 11.4 12.5 11.1 3.9 8.0
as % of fixed assets
(Book Value)
Sale as % of 122.9 75.3 81.9 109.3 171.9 98.1 43.0 42.2 186.1 57.9 372.2 138.8 221.7 142.7
total assets
Sales growth (%)
22.3 9.3 6.3 28.3 5.0 34.5 20.9 33.9 27.7 14.6 17.0 41.7 35.7 23.5
Breakup value of 23.4 38.0 22.1 26.3 64.2 24.4 106.1 22.0 22.3 9.2 30.1 81.6 -51.7 44.5
ordinary shares (in Rs)
xvi
Overall (Million Rupees)
Items 2003 2004 2005 2006 2007 2008
A.Capital Structure:
1.Ordinary Share Capital 246857.4 305607.6 354203.5 372335.5 394509.6 419424.4
2.Surplus 200606.5 289229.7 430745.5 501329.3 558499.1 560270.3
3.Shareholder's Equity (A1+A2) 447463.9 594837.3 784949.0 873664.8 953008.7 979694.7
4.Prefrence Shares 1083.4 1083.4 3628.2 3519.3 10168.4 9445.9
5.Debentures 40128.1 23473.5 30904.9 31265.3 45095.4 49585.9
6.Other Fixed Laibilities 154612.0 196727.2 198830.9 251932.6 306985.9 374482.6
7.Total Fixed Laibilities (A4+A5+A6) 195823.5 221284.1 233364.0 286717.2 362249.7 433514.4
8.Total Capital Employed (A3+A7) 643287.4 816121.4 1018313.0 1160382.0 1315258.4 1413209.1
B.Liquidity:
1.Liquid Assets: 162465.4 241184.3 300873.5 376657.8 409161.4 409910.9
(i)Cash 97228.2 160856.8 188306.3 184141.8 169690.2 167179.8
(ii)Investments 65237.2 80327.5 112567.2 192516.0 239471.2 242731.1
2.Other Current Assets 234267.6 267962.8 337303.3 414622.0 515561.9 704003.1
3.Inventories 112597.1 183539.6 206674.0 240567.9 271532.6 374396.1
4.Current Assets (B1+B2+B3) 509330.1 692686.7 844850.8 1031847.7 1196255.9 1488310.1
5.Current Liabilities 485825.3 596893.4 685142.3 888036.0 1041342.7 1411855.6
6.Total Liabilities(A7+B5) 681648.8 818177.5 918506.3 1174753.2 1403592.4 1845370.0
7.Net Current Assets(B4-B5) 23504.8 95793.3 159708.5 143811.7 154913.2 76454.5
8.Contractual Liabilities 341082.2 373561.8 445335.7 556211.5 646344.5 851131.7
9.Net liquid assets (B1-B5) -323359.9 -355709.1 -384268.8 -511378.2 -632181.3 -1001944.7
C.Fixed Assets:
1.Fixed Asset At Cost 1070184.5 1150211.4 1458664.4 1671976.7 1863049.7 2087349.4
2.Fixed assets after deducting accumulated depreciation 619782.4 720328.2 858604.5 1016570.4 1160345.2 1336754.6
3.Depreciation for the year 54992.4 60445.2 69186.1 75870.1 86225.3 96851.9
4.Total assets (B4+C2) 1129112.5 1413014.9 1703455.3 2048418.1 2356601.1 2825064.7
D.Operation:
1.Gross sales 1382479.4 1632833.9 2031217.2 2570950.5 2837922.7 3471233.0
(i)Local sales 1266939.7 1507135.3 1898311.0 2406191.2 2632698.1 3227616.2
(ii)Export sales 115539.7 125698.6 132906.2 164759.3 205224.6 243616.8
2.Cost of Sales 1172438.6 1360160.9 1672723.8 2166348.2 2431127.0 2964603.8
3.Gross profit 210040.8 272673.0 358493.4 404602.3 406795.7 506629.2
4.Overhead and Other Expenses 1277734.1 1471056.3 1814613.0 2328818.5 2616505.1 3239172.1
5.Operating profit 130931.4 199205.3 254458.2 305994.2 296425.9 301973.5
6.Financial expenses 32029.6 23751.7 29473.3 49293.8 67127.4 96973.0
7.Net profit before tax (D5-D6) 98901.8 175453.6 224984.9 256700.4 229298.5 205000.5
8.Tax provision 36045.8 49604.0 62677.7 73133.2 60628.3 95000.0
9.Total amount of dividend 52182.3 73715.2 70028.1 102525.7 97589.8 105519.8
10.Total value of bonus shares issued 1240.2 2263.2 3398.8 5763.8 2995.8 4730.7
E.Sources of Increase In Capital Employed:
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 27265.8 172834.0 202191.6 142069.0 154876.4 97950.7
2.Retention in business (D7-D8-D9) 10673.7 52134.4 92279.1 81041.5 71080.4 4480.7
3.Finance from outside the company (E1-E2) 16592.1 120699.6 109912.5 61027.5 83796.0 93470.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 65666.1 112579.6 161465.2 156911.6 157305.7 101332.6
2.Depreciation for the year plus changes in capital employed (C3+E1) 82258.4 233279.2 271377.7 217939.1 241101.7 194802.6
G.Operating Financial & Investment Ratios:
1.Gearing ratio (A7 as % of A8) 30.4 27.1 22.9 24.7 27.5 30.7
2.Current ratio (B4 as % of B5) 104.8 116.0 123.3 116.2 114.9 105.4
3.Acid test or Quick ratio (B4-B3 as % B5) 81.7 85.3 93.1 89.1 88.8 78.9
4.Debt equity ratio (B6 as % of A3) 152.3 137.5 117.0 134.5 147.3 188.4
5.Return on assets (D7 as % of C4) 8.8 12.4 13.2 12.5 9.7 7.3
6.Self financing ratio (E2 as % of E1) 39.1 30.2 45.6 57.0 45.9 4.6
7.Cash flow ratio F1 as % of F2 79.8 48.3 59.5 72.0 65.2 52.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 181.3 194.6 221.6 234.6 241.6 233.6
9.Overhead and other expenses as % of gross sales (D4 as % D1) 92.4 90.1 89.3 90.6 92.2 93.3
10.Financial expenses as % of operating profit (D6 as % of D5) 24.5 11.9 11.6 16.1 22.6 32.1
11.Financial expense as % of gross sales (D6 as % of D1) 2.3 1.5 1.5 1.9 2.4 2.8
12.Financial expenses as % of contractual liabilities (D6 as % B8) 9.4 6.4 6.6 8.9 10.4 11.4
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 36.5 28.3 27.9 28.5 26.4 46.3
14.Sundry debtors as % of gross sales 8.0 7.0 7.8 7.8 8.8 10.6
15.Return on Equity (D7 as % of A3) 22.1 29.5 28.7 29.4 24.1 20.9
H.Key Performance Indicators:
1.Dividend cover ratio [(D7 - D8) as % of D9] 120.5 170.7 231.8 179.0 172.8 104.2
2.Dividend ratio to equity (D9 as % of A3) 11.7 12.4 8.9 11.7 10.2 10.8
3.Net profit margin (D7 as % of D1) 7.2 10.7 11.1 10.0 8.1 5.9
4.Earning per share before tax (D7/No. of ordinary shares) 4.0 5.7 6.4 6.9 5.8 4.9
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 2.6 4.1 4.6 4.9 4.3 2.6
6.Average annual % depreciation on written down fixed assets 9.1 9.2 9.2 8.8 8.6 8.3
7.Sales as % of total assets (D1 as % of C4) 122.4 115.6 119.2 125.5 120.4 122.9
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 29.0 39.0 12.3 7.8 -15.9 -15.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 13.1 18.1 24.4 26.6 10.4 22.3
10.Break-up value of ordinary shares (in rupees) 18.1 19.5 22.2 23.5 24.2 23.4
1
Overall
Operating, Financial & Investment Ratios

200
180
160
140
120
% 100
80
60
40
20
0
2003 2004 2005 2006 2007 2008
Gearing ratio Debt to equity ratio Current ratio
Key performance indicators Key prformance ratios
25 14
12
20
10
15
Rupees
8
%
10 6
4
5
2
0
2003 2004 2005 2006 2007 2008 0
2003 2004 2005 2006 2007 2008
EPS (Before tax) EPS (After tax) Break-up value per share
Dividend ratio to equity Net profit margin
2
Private (Million Rupees)
Items 2003 2004 2005 2006 2007 2008
2.Surplus 135265.9 211634.0 319837.8 402749.4 479868.0 496546.8
5.Debentures 22739.8 7546.9 16484.7 18018.3 31384.0 37155.7
B.Liquidity:
1.Liquid Assets: 105348.1 160047.9 224657.7 266378.1 340787.9 342240.7
(i)Cash 53645.4 90921.4 139135.3 108408.3 140648.6 139481.9
(ii)Investments 51702.7 69126.5 85522.4 157969.8 200139.3 202758.8
3.Inventories 99210.3 144697.0 179421.2 200624.0 235366.3 306459.9
C.Fixed Assets:
4.Total assets (B4+C2) 721883.1 933790.5 1208877.0 1430539.0 1844748.8 2194549.9
D.Operation:
1.Gross sales 841226.5 1031308.4 1287627.4 1640222.3 1952451.1 2366426.0
(i)Local sales 732742.5 913080.1 1167237.6 1496605.1 1747226.5 2122809.2
(ii)Export sales 108483.9 118228.3 120389.8 143617.2 205224.6 243616.8
2.Cost of Sales 719248.3 853942.3 1040154.0 1337243.2 1678945.1 2039578.0
3.Gross profit 121978.2 177366.1 247473.4 302979.1 273506.0 326848.0
8.Tax provision 14716.4 26730.9 39922.5 51181.0 33043.0 54699.6
3.Finance from outside the company (E1-E2) -3618.6 92320.7 110992.9 52407.0 157212.5 8648.6
F.Cash Flow Data
3
Private

200
180
160
140
120
% 100
80
60
40
20
0
2003 2004 2005 2006 2007 2008
Key performance indicators Key performance ratios
30
16
25 14
12
20
10
Rupees
15 %
8
6
10
5
2
0
0
2003 2004 2005 2006 2007 2008
2003 2004 2005 2006 2007 2008
4
Public (Million Rupees)
Items 2003 2004 2005 2006 2007 2008
2.Surplus 65340.6 77595.7 110907.7 98580.0 78631.1 63723.6
5.Debentures 17388.2 15926.7 14420.3 13247.0 13711.4 12430.1
B.Liquidity:
1.Liquid Assets: 57117.3 81136.3 76215.7 110279.7 68373.6 67670.2
(i)Cash 43582.8 69935.3 49171.0 75733.5 29041.7 27698.0
(ii)Investments 13534.5 11201.0 27044.7 34546.2 39331.9 39972.2
3.Inventories 13386.8 38842.6 27252.7 39943.9 36166.4 67936.2
7.Net Current Assets(B4-B5) 2639.0 15438.4 33282.4 1737.8 15446.1 -5931.5
C.Fixed Assets:
4.Total assets (B4+C2) 407229.4 479224.3 494578.0 617879.0 511852.5 630514.8
D.Operation:
1.Gross sales 541252.9 601525.5 743589.7 930728.2 885471.6 1104807.1
(i)Local sales 534197.2 594055.2 731073.3 909586.1 885471.6 1104807.1
(ii)Export sales 7055.7 7470.3 12516.4 21142.1 0.0 0.0
2.Cost of Sales 453190.3 506218.6 632569.8 829105.0 752181.9 925025.8
3.Gross profit 88062.6 95306.9 111019.9 101623.2 133289.7 179781.3
8.Tax provision 21329.3 22873.1 22755.1 21952.1 27585.3 40300.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 23097.4 39937.2 20172.9 19500.9 -60433.9 86140.4
3.Finance from outside the company (E1-E2) 20210.9 29322.4 -1080.4 8620.4 -73416.6 84821.3
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 48931.8 63076.3 47656.3 47591.4 -40641.3 108136.4
6.Self financing ratio (E2 as % of E1) 12.5 26.6 105.4 55.8 -21.5 1.5
7.Cash flow ratio F1 as % of F2 58.7 53.5 102.3 81.9 -80.6 21.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 43.8 26.1 -31.0 -15.0 200.0 157.8
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 13.1 11.1 23.6 25.2 -4.9 20.0
5
Public

350
300
250
200
%
150
100
50
0
2003 2004 2005 2006 2007 2008
20 40
18 35
16
30
14
12 25
Rupees
10 %
20
8
15
6
4 10
2
5
0
2003 2004 2005 2006 2007 2008 0
2003 2004 2005 2006 2007 2008
6
TEXTILE SECTOR
Textile Sector (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 37219.4 46532.9 66875.1 82835.2 103273.6 98892.1
5.Debentures 3821.8 1232.3 3809.7 8509.3 10540.8 4526.2
B.Liquidity:
1.Liquid Assets: 16460.1 18250.6 21657.9 42084.2 45664.5 47108.2
(i)Cash 4272.0 4183.1 5119.6 4836.7 4469.9 3540.6
(ii)Investments 12188.1 14067.5 16538.3 37247.5 41194.6 43567.6
3.Inventories 31851.3 48221.5 65966.8 65342.5 69284.4 91663.7
7.Net Current Assets(B4-B5) -1308.9 3306.3 2265.0 8800.7 14122.5 20542.5
C.Fixed Assets:
4.Total assets (B4+C2) 185891.2 224758.0 282592.9 336181.5 389347.4 418931.5
D.Operation:
1.Gross sales 188662.0 227136.5 187364.1 250294.5 288506.1 315252.1
(i)Local sales 94170.1 123172.6 98149.2 139938.1 144851.5 166366.0
(ii)Export sales 94491.9 103963.9 89214.9 110356.4 143654.6 148886.1
2.Cost of Sales 168848.0 207428.3 164218.8 220338.1 253538.6 278619.8
3.Gross profit 19814.0 19708.2 23145.3 29956.4 34967.5 36632.3
8.Tax provision 1471.3 4212.5 1393.1 2072.0 4605.7 15456.2
2.Retention in business (D7-D8-D9) 3658.4 1695.6 7395.2 3630.1 2541.4 -9170.3
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 23.2 9.3 19.5 10.7 11.3 -375.6
1.Dividend cover ratio [(D7 - D8) as % of D9] 341.1 250.8 651.2 349.0 397.7 -534.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 2.4 1.2 3.8 1.7 1.0 -2.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 287.5 -3.2 46.7 -47.7 4.3 -8.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 7.5 20.4 -17.5 33.6 15.3 9.3
9
Cotton Textiles

250
200
150
%
100
50
0
2003 2004 2005 2006 2007 2008
45 6
40
35 5
30
4
25
Rupees
20
%
3
15
10
2
5
0 1
-5
2003 2004 2005 2006 2007 2008
0
2003 2004 2005 2006 2007 2008
10
(Colony) Sarhad Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 87.1 75.8 63.5 38.9 13.3 9.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.4 5.5 5.3 5.3 0.2 16.7
(i)Cash 0.4 0.5 0.3 0.3 0.2 0.2
(ii)Investments 5.0 5.0 5.0 5.0 0.0 16.5
3.Inventories 109.3 102.2 109.9 99.7 84.0 84.0
7.Net Current Assets(B4-B5) 76.1 66.8 57.4 34.5 -305.9 -31.8
C.Fixed Assets:
4.Total assets (B4+C2) 619.3 616.3 615.3 603.0 591.5 601.6
D.Operation:
1.Gross sales 137.0 115.0 56.7 60.2 36.0 0.0
(i)Local sales 137.0 115.0 56.7 60.2 36.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 140.8 112.2 58.6 71.6 47.4 5.6
3.Gross profit -3.8 2.8 -1.9 -11.4 -11.4 -5.6
5.Operating profit -9.0 -3.6 -6.7 -17.4 -14.4 -7.8
7.Net profit before tax (D5-D6) -15.6 -10.6 -11.9 -24.4 -21.4 -14.8
8.Tax provision 0.6 0.5 0.2 0.3 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -19.0 -11.3 -11.6 -24.6 -342.1 273.2
2.Retention in business (D7-D8-D9) -16.2 -11.1 -12.1 -24.7 -21.4 -14.8
3.Finance from outside the company (E1-E2) -2.8 -0.2 0.5 0.1 -320.7 288.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -13.9 -9.1 -10.7 -22.9 -18.1 -13.9
2.Depreciation for the year plus changes in capital employed (C3+E1) -16.7 -9.3 -10.2 -22.8 -338.8 274.1
5.Return on assets (D7 as % of C4) -2.5 -1.7 -1.9 -4.0 -3.6 -2.5
6.Self financing ratio (E2 as % of E1) - - - 100.4 6.3 -5.4
7.Cash flow ratio F1 as % of F2 - - - 100.4 5.3 -5.1
10.Financial expenses as % of operating profit (D6 as % of D5) - - - -40.2 -48.6 -89.7
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - -1.2 0.0 0.0
15.Return on Equity (D7 as % of A3) -12.3 -9.2 -11.5 -30.9 -40.2 -30.1
1.Dividend cover ratio [(D7 - D8) as % of D9] - - - 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) -11.4 -9.2 -21.0 -40.5 -59.4 0.0
4.Earning per share before tax (D7/No. of ordinary shares) -3.9 -2.7 -3.0 -6.1 -5.4 -3.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -4.1 -2.8 -3.0 -6.2 -5.4 -3.7
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 62.5 -30.8 11.1 103.3 -11.5 -31.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 42.9 -16.1 -50.7 6.2 -40.2 -100.0
11
(Colony) Thal Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 16.7 79.5 82.2 101.5 52.5 18.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 11.9 34.6 7.1 3.9 1.6 3.3
(i)Cash 11.9 34.6 7.1 3.9 1.6 3.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 10.1 24.7 75.5 95.9 85.2 52.6
7.Net Current Assets(B4-B5) -37.0 -109.9 -103.0 -62.7 2.4 -91.3
C.Fixed Assets:
4.Total assets (B4+C2) 298.7 490.2 526.0 511.7 521.3 472.0
D.Operation:
1.Gross sales 215.4 369.6 542.2 881.4 777.4 374.9
(i)Local sales 0.0 369.6 542.2 881.4 777.4 374.9
(ii)Export sales 215.4 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 221.8 361.4 516.1 831.3 748.5 374.1
3.Gross profit -6.4 8.2 26.1 50.1 28.9 0.8
5.Operating profit -16.9 -12.9 15.2 13.2 12.3 -8.7
7.Net profit before tax (D5-D6) -27.3 -20.9 4.4 -6.5 -13.6 -32.6
8.Tax provision 1.1 0.0 2.4 4.4 3.9 1.9
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 0.1 60.0 29.1 14.2 68.9 -106.3
2.Retention in business (D7-D8-D9) -28.4 -20.9 2.0 -11.5 -17.5 -34.5
3.Finance from outside the company (E1-E2) 28.5 80.9 27.1 25.7 86.4 -71.8
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -17.7 -10.3 12.2 1.7 -3.5 -21.1
2.Depreciation for the year plus changes in capital employed (C3+E1) 10.8 70.6 39.3 27.4 82.9 -92.9
5.Return on assets (D7 as % of C4) -9.1 -4.3 0.8 -1.3 -2.6 -6.9
6.Self financing ratio (E2 as % of E1) -28400.0 -34.8 6.9 -81.0 -25.4 32.5
7.Cash flow ratio F1 as % of F2 -163.9 -14.6 31.0 6.2 -4.2 22.7
10.Financial expenses as % of operating profit (D6 as % of D5) - - 71.1 149.2 210.6 -274.7
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - 54.5 -67.7 -28.7 -5.8
15.Return on Equity (D7 as % of A3) -37.7 -15.5 3.2 -4.1 -12.6 -44.2
1.Dividend cover ratio [(D7 - D8) as % of D9] - - - -1816.7 0.0 0.0
3.Net profit margin (D7 as % of D1) -12.7 -5.7 0.8 -0.7 -1.7 -8.7
4.Earning per share before tax (D7/No. of ordinary shares) -4.9 -3.8 0.8 -1.2 -2.4 -5.9
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -5.1 -3.8 0.4 -2.0 -3.1 -6.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 69.0 -22.4 -121.1 -250.0 100.0 145.8
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -32.3 71.6 46.7 62.6 -11.8 -51.8
12
Accord Textiles Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -481.2 -319.2 -81.8 -405.2 -437.5 -443.7
3.Shareholder's Equity (A1+A2) -388.2 -226.2 11.2 -312.2 -344.5 -350.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -67.8 192.3 190.5 -231.2 -59.4 -120.9
B.Liquidity:
1.Liquid Assets: 14.1 8.2 2.7 2.2 1.1 0.4
(i)Cash 14.1 8.2 2.7 2.2 1.1 0.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 11.4 47.5 63.0 69.0 13.0 11.6
7.Net Current Assets(B4-B5) -391.3 -115.0 -112.6 -518.8 -332.9 -380.8
C.Fixed Assets:
4.Total assets (B4+C2) 364.4 390.9 389.8 387.9 323.7 278.7
D.Operation:
1.Gross sales 268.5 273.2 192.4 269.3 387.9 378.8
(i)Local sales 268.5 273.2 192.4 269.3 387.9 378.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 304.3 303.0 210.4 306.9 415.4 380.9
3.Gross profit -35.8 -29.8 -18.0 -37.6 -27.5 -2.1
5.Operating profit -35.7 -16.5 -22.0 1.5 -31.6 -5.7
8.Tax provision 1.3 1.4 0.8 1.3 1.9 1.9
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -100.7 260.1 -1.8 -421.7 171.8 -61.5
3.Finance from outside the company (E1-E2) -63.7 279.1 21.0 -419.3 206.2 -53.4
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -19.9 -2.8 -11.0 12.7 -20.2 5.5
2.Depreciation for the year plus changes in capital employed (C3+E1) -83.6 276.3 10.0 -406.6 186.0 -47.9
1.Gearing ratio (A7 as % of A8) - 217.6 94.1 0.0 0.0 0.0
4.Debt equity ratio (B6 as % of A3) - - 3382.1 0.0 0.0 0.0
6.Self financing ratio (E2 as % of E1) - -7.3 - 0.6 -20.0 13.2
7.Cash flow ratio F1 as % of F2 - -1.0 -110.0 -3.1 -10.9 -11.5
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -417.4 -243.2 12.0 -335.7 -370.4 -377.1
10.Financial expenses as % of operating profit (D6 as % of D5) - - - 173.3 -2.8 -8.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - -118.2 -5.8 -30.6
15.Return on Equity (D7 as % of A3) - - -196.4 0.0 0.0 0.0
2.Dividend ratio to equity (D9 as % of A3) - - 0.0 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) -13.3 -6.4 -11.4 -0.4 -8.4 -1.6
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 5.9 1.8 -29.6 40.0 44.0 -2.3
10.Break-up value of ordinary shares (in rupees) -41.7 -24.3 1.2 -33.6 -37.0 -37.7
13
Adil Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 32.2 34.3 34.3 10.5 -26.1 -52.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.6 0.4 33.5 0.3 0.2 0.0
(i)Cash 0.6 0.4 33.5 0.3 0.2 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 37.6 96.3 181.0 74.2 51.1 17.6
C.Fixed Assets:
4.Total assets (B4+C2) 478.4 565.8 712.0 585.2 541.2 498.1
D.Operation:
1.Gross sales 125.6 371.8 316.0 310.6 210.7 44.1
(i)Local sales 62.6 185.6 205.1 257.9 210.7 44.1
(ii)Export sales 63.0 186.2 110.9 52.7 0.0 0.0
2.Cost of Sales 446.5 367.0 292.8 290.4 210.0 62.5
3.Gross profit -320.9 4.8 23.2 20.2 0.7 -18.4
5.Operating profit -335.6 -12.7 12.7 5.5 -6.5 -24.1
8.Tax provision 2.1 1.7 1.5 1.6 1.1 0.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -177.5 10.7 -9.1 -31.9 -68.6 -55.9
3.Finance from outside the company (E1-E2) 173.8 33.8 -8.6 -9.3 -32.0 -30.1
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -330.7 -3.5 15.1 -2.8 -16.1 -5.3
2.Depreciation for the year plus changes in capital employed (C3+E1) -156.9 30.3 6.5 -12.1 -48.1 -35.4
6.Self financing ratio (E2 as % of E1) - -215.9 - 70.8 53.4 46.2
7.Cash flow ratio F1 as % of F2 - -11.6 232.3 23.1 33.5 15.0
10.Financial expenses as % of operating profit (D6 as % of D5) - - 92.1 481.8 -446.2 -6.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 6357.1 -93.8 -103.6 -2800.0 70.4 -28.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -76.3 196.0 -15.0 -1.7 -32.2 -79.1
14
Ahmed Hassan Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 198.8 221.7 275.4 245.0 225.7 691.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.6 0.2 0.6 8.4 5.3 1.3
(i)Cash 0.6 0.2 0.6 8.4 5.0 1.0
(ii)Investments 0.0 0.0 0.0 0.0 0.3 0.3
3.Inventories 131.0 228.6 414.9 432.5 426.1 582.8
C.Fixed Assets:
4.Total assets (B4+C2) 909.6 1063.7 1592.5 1662.4 1856.4 2870.0
D.Operation:
1.Gross sales 1305.4 1845.7 1386.0 2054.6 2169.7 2556.3
(i)Local sales 629.4 826.6 727.1 1081.3 1101.8 1279.8
(ii)Export sales 676.0 1019.1 658.9 973.3 1067.9 1276.5
2.Cost of Sales 1190.0 1748.4 1247.0 1855.9 1988.7 2350.5
3.Gross profit 115.4 97.3 139.0 198.7 181.0 205.8
7.Net profit before tax (D5-D6) 41.4 15.6 60.1 28.8 2.8 -103.7
8.Tax provision 13.6 5.7 7.4 11.7 0.0 13.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 110.2 -10.5 302.6 -63.6 21.0 689.2
3.Finance from outside the company (E1-E2) 96.1 -20.4 249.9 -80.7 18.2 806.1
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 4.6 1.5 3.8 1.7 0.2 -3.6
6.Self financing ratio (E2 as % of E1) 12.8 - 17.4 -26.9 13.3 -17.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 32.9 36.5 12.3 40.6 0.0 -12.7
15.Return on Equity (D7 as % of A3) 13.2 4.5 15.0 7.8 0.8 -12.4
1.Dividend cover ratio [(D7 - D8) as % of D9] 202.9 - - 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) 3.2 0.8 4.3 1.4 0.1 -4.1
4.Earning per share before tax (D7/No. of ordinary shares) 3.6 1.2 4.8 2.3 0.2 -7.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 20.0 -66.7 300.0 -52.1 -91.3 -3700.0
15
Al-Azhar Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -58.3 -52.1 -57.1 -57.1 -99.9 -99.9
3.Shareholder's Equity (A1+A2) 27.2 33.4 28.4 28.4 -14.4 -14.4
5.Debentures 26.1 0.0 24.6 24.6 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.5 4.5 5.5 5.5 1.9 1.9
(i)Cash 1.5 4.5 5.5 5.5 1.9 1.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 31.0 80.6 49.2 49.2 2.0 2.0
C.Fixed Assets:
4.Total assets (B4+C2) 507.2 525.3 468.6 468.6 513.4 513.4
D.Operation:
1.Gross sales 488.3 650.7 375.9 375.9 555.1 555.1
(i)Local sales 480.2 564.1 113.2 113.2 549.1 549.1
(ii)Export sales 8.1 86.6 262.7 262.7 6.0 6.0
2.Cost of Sales 507.7 634.2 367.3 367.3 549.0 549.0
3.Gross profit -19.4 16.5 8.6 8.6 6.1 6.1
5.Operating profit -23.4 10.4 -0.1 -0.1 -5.6 -5.6
8.Tax provision 2.4 2.9 1.7 1.7 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -33.5 -40.1 -54.4 0.0 -29.0 0.0
3.Finance from outside the company (E1-E2) 3.8 -13.1 -27.6 26.8 0.5 29.5
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 11.4 0.4 -26.7 27.7 3.1 32.1
6.Self financing ratio (E2 as % of E1) - - - 0.0 101.7 0.0
7.Cash flow ratio F1 as % of F2 66.7 3375.0 - 3.2 83.9 8.1
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 31.8 39.1 33.2 33.2 -16.8 -16.8
10.Financial expenses as % of operating profit (D6 as % of D5) - 331.7 - -25000.0 -426.8 -426.8
15.Return on Equity (D7 as % of A3) -128.3 -72.2 -88.4 -88.4 0.0 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -295.2 -31.7 3.6 0.0 20.7 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -1.1 33.3 -42.2 0.0 47.7 0.0
10.Break-up value of ordinary shares (in rupees) 3.2 3.9 3.3 3.3 -1.7 -1.7
16
Al-Qadir Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 201.4 200.5 285.4 209.8 249.4 13.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 28.0 13.0 5.2 8.1 7.6 6.0
(i)Cash 28.0 13.0 5.2 8.1 7.6 6.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 28.6 84.4 118.7 188.2 103.4 182.5
7.Net Current Assets(B4-B5) 6.9 10.2 -57.2 -116.5 -78.4 -242.1
C.Fixed Assets:
4.Total assets (B4+C2) 549.9 520.3 615.5 630.9 584.5 611.8
D.Operation:
1.Gross sales 787.7 946.4 747.4 876.6 861.1 828.5
(i)Local sales 430.4 592.0 455.4 502.9 405.1 603.4
(ii)Export sales 357.3 354.4 292.0 373.7 456.0 225.1
2.Cost of Sales 737.5 901.0 663.1 790.8 783.5 788.9
3.Gross profit 50.2 45.4 84.3 85.8 77.6 39.6
8.Tax provision 6.3 4.3 3.5 5.5 6.8 2.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -25.0 -16.9 -39.8 -75.6 39.6 -168.2
2.Retention in business (D7-D8-D9) -5.9 0.1 67.9 28.6 8.6 -13.4
3.Finance from outside the company (E1-E2) -19.1 -17.0 -107.7 -104.2 31.0 -154.8
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -5.9 23.4 87.5 29.2 36.4 14.2
2.Depreciation for the year plus changes in capital employed (C3+E1) -25.0 6.4 -20.2 -75.0 67.4 -140.6
6.Self financing ratio (E2 as % of E1) - - - -37.8 21.7 8.0
7.Cash flow ratio F1 as % of F2 - 365.6 - -38.9 54.0 -10.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -0.8 0.0 9.0 3.8 1.1 -1.8
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -50.0 500.0 1466.7 -52.1 -55.6 -175.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 11.1 20.1 -21.0 17.3 -1.8 -3.8
17
Al-Qaim Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -21.2 279.9 260.6 191.0 191.0 191.0
5.Debentures 0.0 1.7 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.1 3.3 0.2 0.1 0.1 0.1
(i)Cash 0.1 3.3 0.2 0.1 0.1 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 9.6 11.4 6.7 6.7 6.7
C.Fixed Assets:
4.Total assets (B4+C2) 251.9 513.5 497.9 479.6 479.6 479.6
D.Operation:
1.Gross sales 232.1 307.6 229.3 232.1 232.1 232.1
(i)Local sales 232.1 307.6 229.3 232.1 232.1 232.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 242.0 290.1 226.1 262.8 262.8 262.8
3.Gross profit -9.9 17.5 3.2 -30.7 -30.7 -30.7
5.Operating profit 2.3 11.5 -2.9 -39.1 -39.1 -39.1
7.Net profit before tax (D5-D6) -4.5 6.2 -6.1 -44.0 -44.0 -44.0
8.Tax provision 1.2 1.5 1.0 1.2 1.2 1.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -12.7 328.9 -77.2 -91.1 0.0 0.0
2.Retention in business (D7-D8-D9) -5.7 4.7 -7.1 -45.2 -45.2 -45.2
3.Finance from outside the company (E1-E2) -7.0 324.2 -70.1 -45.9 45.2 45.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 6.1 15.8 10.6 -22.9 -22.9 -22.9
2.Depreciation for the year plus changes in capital employed (C3+E1) -0.9 340.0 -59.5 -68.8 22.3 22.3
5.Return on assets (D7 as % of C4) -1.8 1.2 -1.2 -9.2 -9.2 -9.2
6.Self financing ratio (E2 as % of E1) - 1.4 - 49.6 0.0 0.0
7.Cash flow ratio F1 as % of F2 - 4.6 - 33.3 -102.7 -102.7
10.Financial expenses as % of operating profit (D6 as % of D5) 295.7 46.1 - -12.5 -12.5 -12.5
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 24.2 - -2.7 -2.7 -2.7
15.Return on Equity (D7 as % of A3) -8.4 1.7 -1.8 -16.6 -16.6 -16.6
3.Net profit margin (D7 as % of D1) -1.9 2.0 -2.7 -19.0 -19.0 -19.0
4.Earning per share before tax (D7/No. of ordinary shares) -0.6 0.8 -0.8 -5.9 -5.9 -5.9
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -0.8 0.6 -1.0 -6.1 -6.1 -6.1
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -14.3 -233.3 -200.0 637.5 0.0 0.0
18
Ali Asghar Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -187.7 -212.4 215.1 347.2 237.2 197.0
3.Shareholder's Equity (A1+A2) -92.0 -20.9 406.6 538.7 428.7 419.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -48.5 52.6 499.4 749.2 723.7 745.9
B.Liquidity:
1.Liquid Assets: 18.9 13.3 1.5 1.2 10.1 1.5
(i)Cash 18.9 13.3 1.5 1.2 10.1 1.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 163.4 145.2 155.4 135.3 135.5 185.0
C.Fixed Assets:
4.Total assets (B4+C2) 425.4 427.3 975.5 1188.4 1242.6 1234.6
D.Operation:
1.Gross sales 366.6 462.5 442.6 589.4 550.8 485.8
(i)Local sales 335.0 458.8 440.1 571.1 538.0 481.0
(ii)Export sales 31.6 3.7 2.5 18.3 12.8 4.8
2.Cost of Sales 341.1 416.5 387.8 510.0 489.5 433.7
3.Gross profit 25.5 46.0 54.8 79.4 61.3 52.1
7.Net profit before tax (D5-D6) -12.3 -1.2 5.8 12.1 -26.7 -37.8
8.Tax provision 1.8 2.3 2.1 2.9 2.8 2.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -8.4 101.1 446.8 249.8 -25.5 22.2
2.Retention in business (D7-D8-D9) -14.1 -3.5 3.7 9.2 -29.5 -40.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -8.5 9.0 14.4 22.3 5.1 -13.3
2.Depreciation for the year plus changes in capital employed (C3+E1) -2.8 113.6 457.5 262.9 9.1 49.1
5.Return on assets (D7 as % of C4) -2.9 -0.3 0.6 1.0 -2.1 -3.1
6.Self financing ratio (E2 as % of E1) - -3.5 0.8 3.7 115.7 -181.1
7.Cash flow ratio F1 as % of F2 - 7.9 3.1 8.5 56.0 -27.1
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -96.1 -10.9 212.3 281.3 223.9 188.7
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - 36.2 24.0 -10.5 -6.3
15.Return on Equity (D7 as % of A3) - - 1.4 2.2 -6.2 -9.0
3.Net profit margin (D7 as % of D1) -3.4 -0.3 1.3 2.1 -4.8 -7.8
4.Earning per share before tax (D7/No. of ordinary shares) -1.3 -0.1 0.3 0.6 -1.4 -1.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -1.5 -0.2 0.2 0.5 -1.5 -1.8
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -244.4 -92.3 -400.0 100.0 -333.3 21.4
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -2.6 26.2 -4.3 33.2 -6.5 -11.8
10.Break-up value of ordinary shares (in rupees) -9.6 -1.1 21.2 28.1 22.4 18.9
19
Allawasaya Textile & Finishing Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 101.1 115.7 129.3 116.8 115.9 75.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.9 12.6 4.6 7.0 9.5 5.4
(i)Cash 5.9 10.9 2.9 5.3 7.2 3.1
(ii)Investments 0.0 1.7 1.7 1.7 2.3 2.3
3.Inventories 47.1 71.2 41.6 126.7 95.8 255.6
C.Fixed Assets:
4.Total assets (B4+C2) 203.9 208.5 222.7 312.5 276.2 552.9
D.Operation:
1.Gross sales 714.2 864.0 684.7 790.8 827.4 865.7
(i)Local sales 714.2 864.0 684.7 790.8 827.4 865.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 694.1 822.9 643.8 751.1 792.1 848.2
3.Gross profit 20.1 41.1 40.9 39.7 35.3 17.5
5.Operating profit 9.3 30.3 27.4 19.5 17.3 -4.8
8.Tax provision 3.1 0.0 7.4 4.0 4.1 4.3
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 1.2 14.1 13.6 -12.5 -0.9 44.4
3.Finance from outside the company (E1-E2) 1.0 -11.7 -0.7 -13.1 -3.3 79.7
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 11.1 35.7 22.9 13.0 13.8 -23.6
2.Depreciation for the year plus changes in capital employed (C3+E1) 12.1 24.0 22.2 -0.1 10.5 56.1
6.Self financing ratio (E2 as % of E1) 16.7 183.0 105.1 -4.8 -266.7 -79.5
7.Cash flow ratio F1 as % of F2 91.7 148.8 103.2 -13000.0 131.4 -42.1
10.Financial expenses as % of operating profit (D6 as % of D5) 53.8 11.6 17.2 61.0 62.4 -545.8
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -85.2 520.4 -15.2 -66.5 -14.7 -579.0
20
Amin Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -542.2 -359.6 -382.1 -134.0 -156.5 -167.9
3.Shareholder's Equity (A1+A2) -490.4 -307.8 -330.3 -82.2 -104.7 -116.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -383.7 73.3 -254.9 18.3 -4.2 -2.9
B.Liquidity:
1.Liquid Assets: 0.1 0.5 0.7 0.1 0.3 0.4
(i)Cash 0.1 0.5 0.7 0.1 0.3 0.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 12.6 16.4 16.8 18.5 14.4
C.Fixed Assets:
4.Total assets (B4+C2) 163.7 141.3 158.4 147.3 145.1 130.4
D.Operation:
1.Gross sales 197.3 221.9 141.2 278.2 306.0 330.8
(i)Local sales 197.3 221.9 141.2 278.2 306.0 330.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 219.1 243.9 152.5 275.9 294.0 325.1
3.Gross profit -21.8 -22.0 -11.3 2.3 12.0 5.7
5.Operating profit -31.8 201.9 -18.6 249.5 -6.7 -11.6
7.Net profit before tax (D5-D6) -60.9 199.1 -22.0 249.4 -6.8 -11.8
8.Tax provision 1.0 1.1 0.6 1.4 1.5 1.7
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -68.3 457.0 -328.2 273.2 -22.5 1.3
2.Retention in business (D7-D8-D9) -61.9 198.0 -22.6 248.0 -8.3 -13.5
3.Finance from outside the company (E1-E2) -6.4 259.0 -305.6 25.2 -14.2 14.8
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -47.3 211.1 -12.5 261.7 3.9 -2.0
2.Depreciation for the year plus changes in capital employed (C3+E1) -53.7 470.1 -318.1 286.9 -10.3 12.8
1.Gearing ratio (A7 as % of A8) - 519.9 - 549.2 0.0 0.0
4.Debt equity ratio (B6 as % of A3) - - - 0.0 0.0 0.0
5.Return on assets (D7 as % of C4) -37.2 140.9 -13.9 169.3 -4.7 -9.0
6.Self financing ratio (E2 as % of E1) - 43.3 - 90.8 36.9 -1038.5
7.Cash flow ratio F1 as % of F2 - 44.9 - 91.2 -37.9 -15.6
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -946.7 -594.2 -637.6 -158.7 -202.1 -224.1
10.Financial expenses as % of operating profit (D6 as % of D5) - 1.4 - 0.0 -1.5 -1.7
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 0.6 - 0.6 -22.1 -14.4
15.Return on Equity (D7 as % of A3) - - - 0.0 0.0 0.0
2.Dividend ratio to equity (D9 as % of A3) - - - 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) -30.9 89.7 -15.6 89.6 -2.2 -3.6
4.Earning per share before tax (D7/No. of ordinary shares) -11.8 38.4 -4.2 48.1 -1.3 -2.3
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -11.9 38.2 -4.4 47.9 -1.6 -2.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 21.6 -425.4 -110.9 -1245.2 -102.7 76.9
10.Break-up value of ordinary shares (in rupees) -94.7 -59.4 -63.8 -15.9 -20.2 -22.4
21
Annoor Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -10.3 -11.0 -12.1 -12.1 -31.2 -33.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -1.6 2.9 -0.5 -0.5 -17.0 -6.0
B.Liquidity:
1.Liquid Assets: 0.2 0.4 0.2 0.2 0.2 0.2
(i)Cash 0.2 0.4 0.2 0.2 0.2 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 12.3 12.3 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 16.3 31.9 57.9 57.9 38.8 36.6
D.Operation:
1.Gross sales 0.0 0.0 27.6 27.6 0.0 0.0
(i)Local sales 0.0 0.0 27.6 27.6 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.2 0.0 28.0 28.0 2.5 0.0
3.Gross profit -0.2 0.0 -0.4 -0.4 -2.5 0.0
8.Tax provision 0.0 0.0 0.1 0.1 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 0.0 0.0 -3.4 0.0 -16.5 11.0
2.Retention in business (D7-D8-D9) 0.5 11.3 -1.1 -1.1 -2.8 -0.1
3.Finance from outside the company (E1-E2) -0.5 -11.3 -2.3 1.1 -13.7 11.1
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 0.7 11.4 1.1 1.1 -0.3 2.1
2.Depreciation for the year plus changes in capital employed (C3+E1) 0.2 0.1 -1.2 2.2 -14.0 13.2
5.Return on assets (D7 as % of C4) 0.0 8.2 -1.7 -1.7 -7.2 -0.3
9.Overhead and other expenses as % of gross sales (D4 as % D1) - - 103.6 103.6 0.0 0.0
10.Financial expenses as % of operating profit (D6 as % of D5) - 0.0 - 0.0 0.0 0.0
11.Financial expense as % of gross sales (D6 as % of D1) - - 0.0 0.0 0.0 0.0
12.Financial expenses as % of contractual liabilities (D6 as % B8) - 27.4 0.0 0.0 0.0 0.0
14.Sundry debtors as % of gross sales - - 29.7 29.7 0.0 0.0
3.Net profit margin (D7 as % of D1) - - -3.6 -3.6 0.0 0.0
4.Earning per share before tax (D7/No. of ordinary shares) 0.0 0.3 -1.1 -1.1 -3.2 -0.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.0 0.3 -1.3 -1.3 -3.2 -0.1
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - -84.3 0.0 190.9 -96.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 0.0 0.0 - 0.0 -100.0 -
22
Apollo Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 172.8 173.8 792.7 581.7 576.0 628.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9.4 73.7 23.2 90.4 8.2 15.6
(i)Cash 6.1 68.9 22.3 90.4 8.2 9.9
(ii)Investments 3.3 4.8 0.9 0.0 0.0 5.7
3.Inventories 244.7 228.2 502.6 532.8 676.5 1201.7
7.Net Current Assets(B4-B5) -59.7 6.1 6.1 -301.9 -304.3 -486.2
C.Fixed Assets:
4.Total assets (B4+C2) 970.4 1469.2 2677.2 2790.8 2850.8 3065.5
D.Operation:
1.Gross sales 1041.6 1343.2 1089.0 1783.7 1864.6 1137.6
(i)Local sales 415.9 642.8 312.7 504.3 413.0 524.6
(ii)Export sales 625.7 700.4 776.3 1279.4 1451.6 613.0
2.Cost of Sales 931.7 1244.1 935.5 1527.3 1521.3 899.3
3.Gross profit 109.9 99.1 153.5 256.4 343.3 238.3
8.Tax provision 9.0 10.8 11.1 18.3 23.8 8.7
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 84.9 252.7 1096.2 -358.9 -112.2 -263.8
2.Retention in business (D7-D8-D9) 6.3 2.9 17.0 10.6 -22.1 -52.0
3.Finance from outside the company (E1-E2) 78.6 249.8 1079.2 -369.5 -90.1 -211.8
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 141.8 306.4 1139.2 -230.1 22.2 -137.4
6.Self financing ratio (E2 as % of E1) 7.4 1.1 1.6 -3.0 19.7 19.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.8 0.4 2.1 1.3 -2.7 -6.3
23
Artistic Denim Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 462.1 606.4 1229.1 1589.5 1423.3 1632.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.9 42.1 22.9 275.9 9.9 67.3
(i)Cash 2.9 42.1 22.9 275.9 9.9 67.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 131.3 296.1 295.5 355.1 567.7 796.6
7.Net Current Assets(B4-B5) -164.8 57.5 -77.3 65.3 -110.8 54.5
C.Fixed Assets:
4.Total assets (B4+C2) 1121.9 1422.4 2698.9 3587.8 4206.6 4582.9
D.Operation:
1.Gross sales 1351.0 1843.7 3202.7 2491.5 2499.5 2461.8
(i)Local sales 56.8 63.6 22.2 28.5 56.8 102.0
(ii)Export sales 1294.2 1780.1 3180.5 2463.0 2442.7 2359.8
2.Cost of Sales 1091.0 1516.5 2346.2 1746.5 1758.0 1823.9
3.Gross profit 260.0 327.2 856.5 745.0 741.5 637.9
8.Tax provision 13.7 18.5 32.1 29.5 30.0 24.7
3.Finance from outside the company (E1-E2) -34.3 35.7 609.0 420.7 -178.0 -38.0
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 1.7 36.5 73.7 -22.2 0.3 -1.5
24
Aruj Garment Accessories Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 10.2 11.2 13.7 20.3 29.7 30.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.6 1.7 5.6 3.3 6.7 6.3
(i)Cash 1.6 1.7 5.6 3.3 6.7 6.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 7.8 15.8 28.8 44.8 65.6 61.7
7.Net Current Assets(B4-B5) -19.4 -17.8 -4.5 1.6 8.3 3.1
C.Fixed Assets:
4.Total assets (B4+C2) 84.3 91.1 132.8 159.9 189.8 213.1
D.Operation:
1.Gross sales 46.8 80.5 84.8 193.6 231.2 263.4
(i)Local sales 1.5 62.5 71.1 171.6 205.9 56.3
(ii)Export sales 45.3 18.0 13.7 22.0 25.3 207.1
2.Cost of Sales 44.5 71.9 75.7 166.8 202.3 236.0
3.Gross profit 2.3 8.6 9.1 26.8 28.9 27.4
5.Operating profit -1.9 4.2 4.5 19.3 21.0 19.0
7.Net profit before tax (D5-D6) -3.6 2.0 3.1 17.4 16.3 12.1
8.Tax provision 0.2 0.9 0.4 3.4 4.1 1.3
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 4.5 -4.1 33.7 9.0 10.9 25.8
2.Retention in business (D7-D8-D9) -3.8 1.1 2.7 14.0 12.2 10.8
3.Finance from outside the company (E1-E2) 8.3 -5.2 31.0 -5.0 -1.3 15.0
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -4.3 2.2 2.3 10.9 8.6 5.7
6.Self financing ratio (E2 as % of E1) -84.4 - 8.0 155.6 111.9 41.9
10.Financial expenses as % of operating profit (D6 as % of D5) - 52.4 31.1 9.8 22.4 36.3
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 45.0 12.9 19.5 25.2 10.7
15.Return on Equity (D7 as % of A3) -9.5 5.2 4.1 21.3 17.9 13.2
3.Net profit margin (D7 as % of D1) -7.7 2.5 3.7 9.0 7.1 4.6
4.Earning per share before tax (D7/No. of ordinary shares) -1.3 0.7 0.5 2.8 2.7 2.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -1.4 0.4 0.4 2.3 2.0 1.8
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -262.5 -153.8 -28.6 460.0 -3.6 -25.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -16.7 72.0 5.3 128.3 19.4 13.9
25
Ashfaq Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 2.7 11.0 26.4 34.3 30.9 85.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.8 6.6 4.0 29.4 21.4 2.7
(i)Cash 1.8 6.6 4.0 29.4 21.4 2.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 58.0 94.8 127.2 138.5 138.6 156.6
C.Fixed Assets:
4.Total assets (B4+C2) 261.0 343.4 516.9 571.9 599.7 597.1
D.Operation:
1.Gross sales 310.7 449.2 757.8 876.7 595.7 485.7
(i)Local sales 54.0 33.7 18.6 13.7 18.4 19.2
(ii)Export sales 256.7 415.5 739.2 863.0 577.3 466.5
2.Cost of Sales 261.4 388.7 663.2 761.5 510.2 410.9
3.Gross profit 49.3 60.5 94.6 115.2 85.5 74.8
8.Tax provision 3.2 4.4 7.2 10.3 7.4 4.6
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -31.2 16.9 61.1 -14.8 -37.9 37.6
3.Finance from outside the company (E1-E2) -37.0 8.9 46.3 -26.3 -44.8 32.7
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -24.8 23.0 70.8 -2.2 -23.4 52.6
6.Self financing ratio (E2 as % of E1) - 47.3 24.2 -77.7 -18.2 13.0
7.Cash flow ratio F1 as % of F2 - 61.3 34.6 -1095.5 -91.5 37.8
26
Asim Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -177.8 -216.5 -256.5 -370.4 -371.3 -367.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 18.6 3.7 16.4 2.6 9.8 141.8
(i)Cash 18.6 3.7 16.4 2.6 9.8 141.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 15.5 31.8 33.6 60.9 46.5 90.8
C.Fixed Assets:
4.Total assets (B4+C2) 545.9 519.1 523.2 526.4 507.3 533.1
D.Operation:
1.Gross sales 404.3 497.3 285.5 515.3 536.3 630.0
(i)Local sales 389.6 493.2 275.1 502.5 513.2 630.0
(ii)Export sales 14.7 4.1 10.4 12.8 23.1 0.0
2.Cost of Sales 408.2 491.8 298.5 500.1 529.1 620.1
3.Gross profit -3.9 5.5 -13.0 15.2 7.2 9.9
5.Operating profit -11.9 -3.1 -18.7 5.2 -2.6 2.4
7.Net profit before tax (D5-D6) -51.0 -35.6 -39.5 -17.9 -2.7 2.4
8.Tax provision 2.0 2.0 1.4 2.6 2.7 3.2
3.Finance from outside the company (E1-E2) -0.3 -1.1 0.9 -93.4 94.2 -85.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -27.3 -13.0 -23.4 2.1 16.6 20.5
2.Depreciation for the year plus changes in capital employed (C3+E1) -27.6 -14.1 -22.5 -91.3 110.8 -64.5
5.Return on assets (D7 as % of C4) -9.3 -6.9 -7.5 -3.4 -0.5 0.5
6.Self financing ratio (E2 as % of E1) - - - 18.0 -6.1 0.9
7.Cash flow ratio F1 as % of F2 - - - -2.3 15.0 -31.8
10.Financial expenses as % of operating profit (D6 as % of D5) - - - 444.2 -3.8 0.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - -14.5 -100.0 133.3
4.Earning per share before tax (D7/No. of ordinary shares) -3.4 -2.3 -2.6 -1.2 -0.2 0.2
27
Ayesha Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 278.0 318.3 348.0 1386.5 1158.4 1088.6
5.Debentures 0.0 18.1 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 35.9 31.7 30.0 55.8 28.2 37.8
(i)Cash 32.4 28.2 26.5 52.3 6.8 21.5
(ii)Investments 3.5 3.5 3.5 3.5 21.4 16.3
3.Inventories 124.8 303.9 271.3 218.7 262.9 355.6
7.Net Current Assets(B4-B5) -78.6 0.7 -62.6 -105.4 -118.5 -218.4
C.Fixed Assets:
4.Total assets (B4+C2) 893.5 1071.1 1036.7 2279.7 2350.0 2501.1
D.Operation:
1.Gross sales 1654.6 2360.5 1298.3 1920.8 2117.1 2119.1
(i)Local sales 1175.4 1981.4 1156.4 1508.0 1725.4 1870.0
(ii)Export sales 479.2 379.1 141.9 412.8 391.7 249.1
2.Cost of Sales 1548.5 2241.9 1200.7 1804.3 2076.9 2066.3
3.Gross profit 106.1 118.6 97.6 116.5 40.2 52.8
7.Net profit before tax (D5-D6) 26.5 48.7 38.7 13.7 -60.3 -65.8
8.Tax provision 11.5 13.7 7.5 9.4 10.4 10.5
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 102.4 94.8 -35.7 1095.0 64.7 -109.8
3.Finance from outside the company (E1-E2) 87.4 59.8 -66.9 1090.7 135.4 -33.5
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 3.0 4.5 3.7 0.6 -2.6 -2.6
6.Self financing ratio (E2 as % of E1) 14.6 36.9 - 0.4 -109.3 69.5
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 43.4 28.1 19.4 68.6 -17.2 -16.0
15.Return on Equity (D7 as % of A3) 9.1 14.7 10.7 1.0 -5.1 -6.0
3.Net profit margin (D7 as % of D1) 1.6 2.1 3.0 0.7 -2.8 -3.1
4.Earning per share before tax (D7/No. of ordinary shares) 18.9 34.8 27.6 9.8 -43.1 -47.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 15.2 84.1 -20.7 -64.5 -539.8 9.0
28
Azam Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 38.2 117.7 99.4 54.4 57.8 -45.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 74.4 0.6 2.8 1.8 4.7 4.5
(i)Cash 1.0 0.6 2.8 1.8 4.7 4.5
(ii)Investments 73.4 0.0 0.0 0.0 0.0 0.0
3.Inventories 70.6 122.5 108.0 126.5 136.0 139.8
C.Fixed Assets:
4.Total assets (B4+C2) 571.7 621.5 713.8 688.5 696.9 650.6
D.Operation:
1.Gross sales 822.1 326.2 260.8 428.6 476.3 456.4
(i)Local sales 609.1 326.2 260.8 428.6 476.3 456.4
(ii)Export sales 213.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 816.7 308.8 236.8 373.2 423.5 400.6
3.Gross profit 5.4 17.4 24.0 55.4 52.8 55.8
7.Net profit before tax (D5-D6) -51.8 -16.5 0.4 5.9 6.2 10.5
8.Tax provision 3.7 1.7 1.5 2.5 2.7 2.6
2.Retention in business (D7-D8-D9) -55.5 -18.2 -1.1 3.4 3.5 7.9
3.Finance from outside the company (E1-E2) -30.8 205.5 -104.0 -79.7 -25.1 -113.4
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -63.6 211.6 -87.8 -51.9 2.8 -81.7
5.Return on assets (D7 as % of C4) -9.1 -2.7 0.1 0.9 0.9 1.6
6.Self financing ratio (E2 as % of E1) - -9.7 - -4.5 -16.2 -7.5
7.Cash flow ratio F1 as % of F2 - 2.9 - -53.6 996.4 -38.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - 375.0 42.4 43.5 24.8
15.Return on Equity (D7 as % of A3) -30.3 -6.6 0.2 3.2 3.3 12.1
3.Net profit margin (D7 as % of D1) -6.3 -5.1 0.2 1.4 1.3 2.3
4.Earning per share before tax (D7/No. of ordinary shares) -3.9 -1.2 0.0 0.4 0.5 0.8
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -4.2 -1.4 -0.1 0.3 0.3 0.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 143.8 -69.2 -100.0 0.0 25.0 60.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 36.2 -60.3 -20.0 64.3 11.1 -4.2
29
Azgard Nine Ltd.(Legler-Nafees Denim Mills Ltd.) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 754.0 991.0 1563.3 2102.5 2017.4 6482.8
5.Debentures 0.0 0.0 2393.7 7713.0 10404.3 3962.5
B.Liquidity:
1.Liquid Assets: 24.3 132.7 807.1 1133.0 1513.1 11622.6
(i)Cash 21.6 20.9 46.3 1133.0 630.1 82.1
(ii)Investments 2.7 111.8 760.8 0.0 883.0 11540.5
3.Inventories 1265.8 1394.7 2123.7 2904.0 2532.1 4034.1
7.Net Current Assets(B4-B5) 92.9 662.6 424.6 -2873.2 -1235.1 8330.7
9.Net liquid assets (B1-B5) -2364.3 -2481.3 -3683.9 -8802.8 -9173.2 1268.8
C.Fixed Assets:
4.Total assets (B4+C2) 4815.3 6208.8 10510.1 27076.5 29933.9 27338.1
D.Operation:
1.Gross sales 2689.0 3304.0 4662.2 6624.7 12937.0 11827.0
(i)Local sales 1072.3 1613.2 791.6 2492.8 7504.5 11724.8
(ii)Export sales 1616.7 1690.8 3870.6 4131.9 5432.5 102.2
2.Cost of Sales 2042.9 2584.0 3523.7 4732.0 8362.6 8238.4
3.Gross profit 646.1 720.0 1138.5 1892.7 4574.4 3588.6
8.Tax provision 20.3 20.0 47.9 123.6 100.4 13287.6
2.Retention in business (D7-D8-D9) 228.2 291.8 577.6 -120.2 1472.0 -14745.3
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] - 435.8 450.9 42.9 527.9 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 109.6 22.9 41.1 42.1 95.3 -8.6
30
Babri Cotton Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 143.2 230.0 281.7 182.7 300.0 285.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.1 5.5 18.8 19.2 20.4 27.8
(i)Cash 1.1 1.5 0.7 0.4 0.6 5.5
(ii)Investments 4.0 4.0 18.1 18.8 19.8 22.3
3.Inventories 102.4 108.5 210.8 215.9 264.4 332.4
C.Fixed Assets:
4.Total assets (B4+C2) 382.7 560.7 937.8 899.8 1130.3 1180.1
D.Operation:
1.Gross sales 465.7 553.0 402.4 610.9 746.9 739.9
(i)Local sales 465.7 553.0 402.4 610.9 746.9 739.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 416.7 486.8 394.5 580.0 672.2 694.2
3.Gross profit 49.0 66.2 7.9 30.9 74.7 45.7
5.Operating profit 30.1 44.2 -4.5 3.5 54.5 23.1
7.Net profit before tax (D5-D6) 23.4 39.6 -16.4 -52.2 -14.3 -44.1
8.Tax provision 5.5 10.7 1.8 3.1 3.7 3.7
3.Finance from outside the company (E1-E2) 1.2 117.6 261.8 -45.8 -27.7 296.7
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 31.2 166.0 265.0 -43.8 -13.5 284.8
6.Self financing ratio (E2 as % of E1) 91.5 19.7 -7.5 54.7 39.4 -19.2
7.Cash flow ratio F1 as % of F2 96.2 29.2 1.2 -4.6 -105.2 -4.2
10.Financial expenses as % of operating profit (D6 as % of D5) 22.3 10.4 - 1591.4 126.2 290.9
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 23.5 27.0 - -5.9 -25.9 -8.4
15.Return on Equity (D7 as % of A3) 14.3 15.8 -5.4 -25.8 -4.5 -14.0
3.Net profit margin (D7 as % of D1) 5.0 7.2 -4.1 -8.5 -1.9 -6.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -10.0 69.2 -141.4 218.3 -72.4 111.1
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -1.2 18.7 -27.2 51.8 22.3 -0.9
31
Baig Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -3.9 117.0 79.3 -56.1 -59.3 -64.9
5.Debentures 197.3 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.9 5.5 6.9 0.9 1.0 35.9
(i)Cash 7.9 5.5 6.9 0.9 1.0 35.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 28.8 123.1 166.7 79.5 0.0 0.0
7.Net Current Assets(B4-B5) -65.8 -44.6 -79.9 -148.0 -130.5 24.4
C.Fixed Assets:
4.Total assets (B4+C2) 447.8 567.7 582.4 409.0 166.4 40.9
D.Operation:
1.Gross sales 567.7 683.9 489.6 616.8 84.4 0.0
(i)Local sales 567.7 683.9 489.6 616.8 84.4 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 525.6 653.1 449.1 592.7 91.1 0.0
3.Gross profit 42.1 30.8 40.5 24.1 -6.7 0.0
5.Operating profit 34.1 22.9 33.9 -101.0 37.0 132.5
7.Net profit before tax (D5-D6) 1.3 1.1 17.2 -131.7 25.0 132.3
8.Tax provision 2.8 3.1 2.3 3.4 0.4 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 26.1 49.6 -41.0 -161.9 -102.5 -5.5
2.Retention in business (D7-D8-D9) -1.5 -2.0 14.9 -135.1 24.6 132.3
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 22.5 20.5 29.7 -115.6 26.1 133.0
2.Depreciation for the year plus changes in capital employed (C3+E1) 50.1 72.1 -26.2 -142.4 -101.0 -4.8
5.Return on assets (D7 as % of C4) 0.3 0.2 3.0 -32.2 15.0 323.5
6.Self financing ratio (E2 as % of E1) -5.7 -4.0 - 83.4 -24.0 -2405.5
7.Cash flow ratio F1 as % of F2 44.9 28.4 - 81.2 -25.8 -2770.8
10.Financial expenses as % of operating profit (D6 as % of D5) 96.2 95.2 49.3 -30.4 32.4 0.2
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 215.4 281.8 13.4 -2.6 1.6 0.0
15.Return on Equity (D7 as % of A3) 1.5 0.5 10.1 -377.4 78.9 506.9
3.Net profit margin (D7 as % of D1) 0.2 0.2 3.5 -21.4 29.6 0.0
4.Earning per share before tax (D7/No. of ordinary shares) 0.1 0.1 1.9 -14.5 2.7 14.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -0.2 -0.2 1.6 -14.8 2.7 14.5
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -83.3 0.0 1800.0 -863.2 -118.6 437.0
32
Bhanero Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 530.9 578.8 671.2 707.2 823.4 959.6
5.Debentures 13.1 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 11.6 6.5 12.5 24.3 56.0 18.9
(i)Cash 11.3 6.2 12.2 23.9 55.6 18.5
(ii)Investments 0.3 0.3 0.3 0.4 0.4 0.4
3.Inventories 162.8 363.0 809.5 594.0 838.6 961.8
7.Net Current Assets(B4-B5) 173.5 97.2 168.1 -247.0 -357.1 -60.9
C.Fixed Assets:
4.Total assets (B4+C2) 915.8 1353.9 2390.8 3070.5 3410.2 3403.1
D.Operation:
1.Gross sales 1448.1 1751.6 1316.5 2692.9 3547.1 3510.4
(i)Local sales 762.6 989.7 1316.5 2692.9 2369.1 1633.6
(ii)Export sales 685.5 761.9 0.0 0.0 1178.0 1876.8
2.Cost of Sales 1226.5 1613.0 1109.1 2270.8 3070.5 3101.0
3.Gross profit 221.6 138.6 207.4 422.1 476.6 409.4
8.Tax provision 23.3 14.7 6.3 20.9 17.7 18.1
3.Finance from outside the company (E1-E2) 28.3 116.4 577.7 283.0 -424.9 63.5
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 88.0 -58.9 82.9 69.0 7.1 -46.2
33
Bilal Fibres Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 78.9 -16.2 81.5 64.0 -37.5 54.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 13.0 6.5 8.8 3.9 28.3 3.5
(i)Cash 13.0 6.5 8.8 3.9 28.3 3.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 47.6 77.0 68.9 112.0 114.7 168.2
C.Fixed Assets:
4.Total assets (B4+C2) 431.0 519.3 669.5 739.2 776.4 1018.3
D.Operation:
1.Gross sales 521.5 677.5 507.1 764.5 785.0 905.2
(i)Local sales 447.0 518.6 470.3 659.0 669.2 711.9
(ii)Export sales 74.5 158.9 36.8 105.5 115.8 193.3
2.Cost of Sales 478.9 646.0 467.5 717.6 785.3 865.9
3.Gross profit 42.6 31.5 39.6 46.9 -0.3 39.3
5.Operating profit 28.8 14.9 24.2 56.2 -27.5 -3.5
8.Tax provision 2.6 3.1 2.3 4.1 4.3 36.5
2.Retention in business (D7-D8-D9) 12.7 -0.5 7.4 12.4 -78.2 -97.4
3.Finance from outside the company (E1-E2) -4.7 -106.3 157.8 -79.4 201.6 255.3
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 29.6 19.3 24.3 35.5 -52.0 -68.0
2.Depreciation for the year plus changes in capital employed (C3+E1) 24.9 -87.0 182.1 -43.9 149.6 187.3
6.Self financing ratio (E2 as % of E1) 158.8 - 4.5 -18.5 -63.4 -61.7
7.Cash flow ratio F1 as % of F2 118.9 - 13.3 -80.9 -34.8 -36.3
10.Financial expenses as % of operating profit (D6 as % of D5) 46.9 82.6 59.9 70.6 -168.7 -1640.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -52.2 -81.8 250.0 71.4 -533.3 -17.3
34
Blessed Textiles Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 292.0 342.3 427.4 558.7 639.3 777.2
5.Debentures 12.5 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 19.4 26.9 49.2 14.1 40.8 33.9
(i)Cash 19.4 26.9 49.2 14.1 40.8 33.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 181.0 174.7 300.8 489.6 532.4 846.3
C.Fixed Assets:
4.Total assets (B4+C2) 1236.2 1337.9 1765.5 2440.7 2564.8 2795.1
D.Operation:
1.Gross sales 1355.3 2250.9 1652.8 2948.0 2703.7 2994.3
(i)Local sales 224.7 606.7 276.6 430.5 1457.2 1724.2
(ii)Export sales 1130.6 1644.2 1376.2 2517.5 1246.5 1270.1
2.Cost of Sales 1172.9 2089.4 1449.9 2531.2 2308.1 2628.6
3.Gross profit 182.4 161.5 202.9 416.8 395.6 365.7
8.Tax provision 14.4 0.0 16.4 40.7 18.8 20.2
3.Finance from outside the company (E1-E2) 541.8 -61.9 100.8 264.9 -358.8 102.6
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 95.7 66.1 -26.6 78.4 -8.3 10.7
35
Brothers Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 40.4 58.4 52.1 32.4 -60.8 -103.6
3.Shareholder's Equity (A1+A2) 138.4 156.4 150.1 130.4 37.2 -5.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.5 4.2 6.4 3.5 2.6 0.8
(i)Cash 5.5 4.2 6.4 3.5 2.6 0.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 32.6 70.2 75.9 81.2 44.9 0.0
7.Net Current Assets(B4-B5) -30.4 -11.5 21.2 -8.4 -98.3 -110.2
C.Fixed Assets:
4.Total assets (B4+C2) 526.9 587.2 570.6 557.5 508.2 421.4
D.Operation:
1.Gross sales 406.7 614.7 343.5 459.8 484.0 166.6
(i)Local sales 367.7 603.2 338.3 456.1 450.7 166.6
(ii)Export sales 39.0 11.5 5.2 3.7 33.3 0.0
2.Cost of Sales 412.6 620.6 326.9 458.2 502.6 176.2
3.Gross profit -5.9 -5.9 16.6 1.6 -18.6 -9.6
5.Operating profit -17.6 -19.5 6.5 -8.2 -36.5 -20.8
8.Tax provision 2.0 2.7 1.7 3.2 2.4 0.8
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -46.4 38.9 18.6 -38.3 -103.9 -48.5
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - -97.4 -51.1 101.3 61.2 68.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 141.2 159.6 153.2 133.1 38.0 -5.7
10.Financial expenses as % of operating profit (D6 as % of D5) - - 220.0 -334.1 -67.7 -54.8
15.Return on Equity (D7 as % of A3) -25.9 -22.5 -5.2 -27.3 -164.5 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 2.8 -2.7 -77.8 350.0 72.2 -46.8
10.Break-up value of ordinary shares (in rupees) 14.1 16.0 15.3 13.3 3.8 -0.6
36
Carvan East Fabrics Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -215.0 -214.1 -60.2 -60.2 -60.2 -60.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -115.0 -110.5 39.9 39.9 39.9 39.9
B.Liquidity:
1.Liquid Assets: 4.5 2.6 1.2 1.2 1.2 1.2
(i)Cash 4.5 2.6 1.2 1.2 1.2 1.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.6 0.5 0.6 0.6 0.6 0.6
C.Fixed Assets:
4.Total assets (B4+C2) 102.8 101.2 90.7 90.7 90.7 90.7
D.Operation:
1.Gross sales 43.1 48.1 37.8 37.8 37.8 37.8
(i)Local sales 43.1 48.1 37.8 37.8 37.8 37.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 40.2 44.4 39.5 39.5 39.5 39.5
3.Gross profit 2.9 3.7 -1.7 -1.7 -1.7 -1.7
8.Tax provision 0.3 0.4 0.3 0.3 0.3 0.3
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -12.9 4.5 150.4 0.0 0.0 0.0
3.Finance from outside the company (E1-E2) -5.9 0.8 143.2 -7.2 -7.2 -7.2
F.Cash Flow Data
1.Gearing ratio (A7 as % of A8) - - 0.3 0.3 0.3 0.3
6.Self financing ratio (E2 as % of E1) - 82.2 4.8 0.0 0.0 0.0
7.Cash flow ratio F1 as % of F2 - 93.0 8.6 216.1 216.1 216.1
15.Return on Equity (D7 as % of A3) - - 18.8 18.8 18.8 18.8
37
Chakwal Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -87.9 -160.8 -109.8 -198.5 -186.3 -185.4
3.Shareholder's Equity (A1+A2) 25.4 -47.5 3.5 201.5 213.7 214.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 103.2 125.9 2.1 35.8 39.7 34.4
(i)Cash 89.9 125.9 2.1 35.8 39.7 34.4
(ii)Investments 13.3 0.0 0.0 0.0 0.0 0.0
3.Inventories 49.6 213.3 155.6 120.8 150.8 206.3
C.Fixed Assets:
4.Total assets (B4+C2) 798.3 978.3 817.1 977.3 1085.7 1158.3
D.Operation:
1.Gross sales 970.1 779.8 637.6 711.6 853.1 875.5
(i)Local sales 730.5 717.7 612.5 92.8 659.5 775.8
(ii)Export sales 239.6 62.1 25.1 618.8 193.6 99.7
2.Cost of Sales 827.8 758.3 594.1 683.1 783.3 809.1
3.Gross profit 142.3 21.5 43.5 28.5 69.8 66.4
7.Net profit before tax (D5-D6) 81.2 -10.7 6.2 -21.0 5.8 -23.0
8.Tax provision 3.7 3.4 2.8 3.5 48.3 4.4
2.Retention in business (D7-D8-D9) 77.5 -14.1 3.4 -24.5 -42.5 -27.4
F.Cash Flow Data
4.Debt equity ratio (B6 as % of A3) 3043.3 - 23245.7 385.1 408.1 439.7
5.Return on assets (D7 as % of C4) 10.2 -1.1 0.8 -2.1 0.5 -2.0
6.Self financing ratio (E2 as % of E1) 72.0 -48.0 - -4.3 12.6 -27.9
7.Cash flow ratio F1 as % of F2 77.9 29.8 - 2.1 -1.4 13.8
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 22.4 -41.9 3.1 50.4 53.4 53.7
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 4.6 - 45.2 -16.7 832.8 -19.1
15.Return on Equity (D7 as % of A3) 319.7 - 177.1 -10.4 2.7 -10.7
2.Dividend ratio to equity (D9 as % of A3) 0.0 - 0.0 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) 8.4 -1.4 1.0 -3.0 0.7 -2.6
4.Earning per share before tax (D7/No. of ordinary shares) 7.2 -0.9 0.5 -0.5 0.1 -0.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 6.8 -1.2 0.3 -0.6 -1.1 -0.7
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -523.5 -112.5 -155.6 -200.0 -120.0 -700.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 29.3 -19.6 -18.2 11.6 19.9 2.6
10.Break-up value of ordinary shares (in rupees) 2.2 -4.2 0.3 5.0 5.3 5.4
38
Chaudhry Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -60.4 -21.8 -27.0 -23.4 -30.8 -47.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -45.3 -6.7 -11.9 -8.3 -15.7 -32.5
B.Liquidity:
1.Liquid Assets: 0.4 14.9 2.4 0.8 0.1 69.1
(i)Cash 0.0 14.9 2.4 0.8 0.1 13.7
(ii)Investments 0.4 0.0 0.0 0.0 0.0 55.4
3.Inventories 0.9 2.0 3.2 5.7 1.2 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 36.2 53.9 41.3 44.9 39.8 91.5
D.Operation:
1.Gross sales 80.7 102.3 78.3 119.7 296.6 20.5
(i)Local sales 80.7 102.3 78.3 119.7 148.5 20.5
(ii)Export sales 0.0 0.0 0.0 0.0 148.1 0.0
2.Cost of Sales 76.7 100.7 70.4 110.8 0.0 35.1
3.Gross profit 4.0 1.6 7.9 8.9 296.6 -14.6
7.Net profit before tax (D5-D6) -1.5 -2.8 3.1 2.7 289.5 -15.9
8.Tax provision 0.4 0.4 0.4 0.6 0.7 0.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -1.0 38.6 -5.2 3.6 -7.4 -16.8
2.Retention in business (D7-D8-D9) -1.9 -3.2 2.7 2.1 288.8 -16.3
3.Finance from outside the company (E1-E2) 0.9 41.8 -7.9 1.5 -296.2 -0.5
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -1.0 -2.4 3.2 2.8 290.2 -15.8
2.Depreciation for the year plus changes in capital employed (C3+E1) -0.1 39.4 -4.7 4.3 -6.0 -16.3
1.Gearing ratio (A7 as % of A8) - - - 0.0 0.0 0.0
5.Return on assets (D7 as % of C4) -4.1 -5.2 7.5 6.0 727.4 -17.4
6.Self financing ratio (E2 as % of E1) - -8.3 - 58.3 -3902.7 97.0
7.Cash flow ratio F1 as % of F2 - -6.1 - 65.1 -4836.7 96.9
12.Financial expenses as % of contractual liabilities (D6 as % B8) - - - 0.0 0.5 0.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - 12.9 22.2 0.2 -2.5
3.Net profit margin (D7 as % of D1) -1.9 -2.7 4.0 2.3 97.6 -77.6
4.Earning per share before tax (D7/No. of ordinary shares) -1.0 -1.9 2.1 1.8 191.7 -10.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -1.3 -2.1 1.8 1.4 191.3 -10.8
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -65.5 90.0 -210.5 -14.3 10550.0 -105.5
39
Chenab Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -14.1 -15.5 -14.1 -13.2 1970.0 1800.2
3.Shareholder's Equity (A1+A2) -7.1 -8.5 -7.1 -6.2 3120.0 2950.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -7.1 -8.5 -7.1 -6.2 6272.8 6046.8
B.Liquidity:
1.Liquid Assets: 0.0 0.0 0.3 2.9 65.2 59.9
(i)Cash 0.0 0.0 0.3 0.1 65.2 59.9
(ii)Investments 0.0 0.0 0.0 2.8 0.0 0.0
3.Inventories 0.7 0.7 0.0 0.0 3997.2 4442.6
C.Fixed Assets:
4.Total assets (B4+C2) 35.5 34.2 34.0 33.9 14982.9 16287.1
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 8338.4 8675.3
(i)Local sales 0.0 0.0 0.0 0.0 621.9 1100.9
(ii)Export sales 0.0 0.0 0.0 0.0 7716.5 7574.4
2.Cost of Sales 0.0 0.0 0.0 0.0 6791.1 6996.0
3.Gross profit 0.0 0.0 0.0 0.0 1547.3 1679.3
7.Net profit before tax (D5-D6) 0.0 -4.3 2.2 0.8 160.4 -15.3
8.Tax provision 0.0 0.0 0.8 0.3 85.4 82.4
3.Finance from outside the company (E1-E2) 1.8 -11.2 0.0 0.4 6278.0 -128.3
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 0.0 - 100.0 55.6 0.0 43.2
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -101.4 -121.4 -101.4 -88.6 271.3 256.5
9.Overhead and other expenses as % of gross sales (D4 as % D1) - - - 0.0 88.1 87.3
11.Financial expense as % of gross sales (D6 as % of D1) - - - 0.0 10.1 13.0
12.Financial expenses as % of contractual liabilities (D6 as % B8) 0.0 - - 0.0 10.7 10.9
14.Sundry debtors as % of gross sales - - - 0.0 0.0 28.0
15.Return on Equity (D7 as % of A3) - - - 0.0 5.1 -0.5
3.Net profit margin (D7 as % of D1) - - - 0.0 1.9 -0.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - -16.2 -64.5 27.3 -107.1
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - 0.0 - - - 4.0
10.Break-up value of ordinary shares (in rupees) -10.1 -12.1 -10.1 -8.9 27.1 25.7
40
Colony Mills Ltd. (Colony Textile Mills Ltd.) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 724.7 741.6 1077.3 301.4 707.3 464.6
5.Debentures 0.7 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.9 113.2 215.2 819.1 8.9 819.3
(i)Cash 2.0 90.7 65.4 4.4 4.4 32.1
(ii)Investments 0.9 22.5 149.8 814.7 4.5 787.2
3.Inventories 509.2 989.6 1020.8 1298.8 1392.5 1960.3
7.Net Current Assets(B4-B5) -345.4 -260.6 16.7 38.7 34.9 18.0
C.Fixed Assets:
4.Total assets (B4+C2) 2343.7 4344.5 5321.1 7790.5 9128.9 12651.2
D.Operation:
1.Gross sales 2603.2 3641.0 3693.5 2063.3 5799.9 7020.7
(i)Local sales 2553.5 3244.6 2828.4 1318.7 3391.8 7020.7
(ii)Export sales 49.7 396.4 865.1 744.6 2408.1 0.0
2.Cost of Sales 2386.8 3481.6 3323.4 1783.5 5061.7 6026.5
3.Gross profit 216.4 159.4 370.1 279.8 738.2 994.2
8.Tax provision 2.9 19.2 24.5 14.4 29.0 35.9
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -20.4 27.9 30.9 -93.1 280.0 -21.1
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 60.0 39.9 1.4 -44.1 181.1 21.0
41
Crescent Fibers Ltd. (Crescent Boards Ltd.) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
1.Ordinary Share Capital - - - - 118.3 124.2
2.Surplus - - - - 154.0 103.5
3.Shareholder's Equity (A1+A2) - - - - 272.3 227.7
4.Prefrence Shares - - - - 0.0 0.0
5.Debentures - - - - 0.0 0.0
6.Other Fixed Laibilities - - - - 108.2 67.6
7.Total Fixed Laibilities (A4+A5+A6) - - - - 108.2 67.6
8.Total Capital Employed (A3+A7) - - - - 380.5 295.3
B.Liquidity:
1.Liquid Assets: - - - - 4.8 4.2
(i)Cash - - - - 2.1 1.5
(ii)Investments - - - - 2.7 2.7
2.Other Current Assets - - - - 341.6 539.7
3.Inventories - - - - 109.8 153.5
4.Current Assets (B1+B2+B3) - - - - 456.2 697.4
5.Current Liabilities - - - - 394.0 414.7
6.Total Liabilities(A7+B5) - - - - 502.2 482.3
7.Net Current Assets(B4-B5) - - - - 62.2 282.7
8.Contractual Liabilities - - - - 270.6 262.7
9.Net liquid assets (B1-B5) - - - - -389.2 -410.5
C.Fixed Assets:
1.Fixed Asset At Cost - - - - 875.7 850.1
2.Fixed assets after deducting accumulated depreciation - - - - 318.3 12.5
3.Depreciation for the year - - - - 32.8 31.3
4.Total assets (B4+C2) - - - - 774.5 709.9
D.Operation:
1.Gross sales - - - - 1189.7 1246.8
(i)Local sales - - - - 1189.7 1241.8
(ii)Export sales - - - - 0.0 5.0
2.Cost of Sales - - - - 1073.1 1160.2
3.Gross profit - - - - 116.6 86.6
4.Overhead and Other Expenses - - - - 1122.1 1202.5
5.Operating profit - - - - 76.1 57.2
6.Financial expenses - - - - 36.8 32.0
7.Net profit before tax (D5-D6) - - - - 39.3 25.2
8.Tax provision - - - - 5.9 6.2
9.Total amount of dividend - - - - 0.0 62.1
10.Total value of bonus shares issued - - - - 5.9 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - - 380.5 -85.2
2.Retention in business (D7-D8-D9) - - - - 33.4 -43.1
3.Finance from outside the company (E1-E2) - - - - 347.1 -42.1
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - - 66.2 -11.8
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - - 413.3 -53.9
1.Gearing ratio (A7 as % of A8) - - - - 28.4 22.9
2.Current ratio (B4 as % of B5) - - - - 115.8 168.2
3.Acid test or Quick ratio (B4-B3 as % B5) - - - - 87.9 131.2
4.Debt equity ratio (B6 as % of A3) - - - - 184.4 211.8
5.Return on assets (D7 as % of C4) - - - - 5.1 3.5
6.Self financing ratio (E2 as % of E1) - - - - 8.8 50.6
7.Cash flow ratio F1 as % of F2 - - - - 16.0 21.9
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - - - - 230.2 183.3
9.Overhead and other expenses as % of gross sales (D4 as % D1) - - - - 94.3 96.4
10.Financial expenses as % of operating profit (D6 as % of D5) - - - - 48.4 55.9
11.Financial expense as % of gross sales (D6 as % of D1) - - - - 3.1 2.6
12.Financial expenses as % of contractual liabilities (D6 as % B8) - - - - 13.6 12.2
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - - 15.0 24.6
14.Sundry debtors as % of gross sales - - - - 9.8 7.3
15.Return on Equity (D7 as % of A3) - - - - 14.4 11.1
1.Dividend cover ratio [(D7 - D8) as % of D9] - - - - 0.0 30.6
2.Dividend ratio to equity (D9 as % of A3) - - - - 0.0 27.3
3.Net profit margin (D7 as % of D1) - - - - 3.3 2.0
4.Earning per share before tax (D7/No. of ordinary shares) - - - - 3.3 2.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - - - 2.8 1.5
6.Average annual % depreciation on written down fixed assets - - - - 10.1 26.5
7.Sales as % of total assets (D1 as % of C4) - - - - 153.6 175.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - - 230.0 -39.4
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - - - 4.8
10.Break-up value of ordinary shares (in rupees) - - - - 23.0 18.3
42
Crescent Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -28.4 -28.4 -28.4 -28.4 -28.4 -28.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.1 1.1 1.1 1.1 1.1 1.1
(i)Cash 0.5 0.5 0.5 0.5 0.5 0.5
(ii)Investments 0.6 0.6 0.6 0.6 0.6 0.6
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 551.1 551.1 551.1 551.1 551.1 551.1
D.Operation:
1.Gross sales 321.6 321.6 321.6 321.6 321.6 321.6
(i)Local sales 321.6 321.6 321.6 321.6 321.6 321.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 315.0 315.0 315.0 315.0 315.0 315.0
3.Gross profit 6.6 6.6 6.6 6.6 6.6 6.6
8.Tax provision 1.6 1.6 1.6 1.6 1.6 1.6
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 0.0 0.0 - 0.0 0.0 0.0
3.Finance from outside the company (E1-E2) 23.3 23.3 - 23.3 23.3 23.3
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 16.1 16.1 - 16.1 16.1 16.1
6.Self financing ratio (E2 as % of E1) - - 0.0 0.0 0.0 0.0
7.Cash flow ratio F1 as % of F2 -44.7 -44.7 0.0 -44.7 -44.7 -44.7
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 0.0 0.0 0.0 0.0 0.0 0.0
43
D.M. Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 135.0 307.1 369.5 250.1 551.9 527.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.9 28.1 19.0 4.0 1.7 4.1
(i)Cash 5.6 27.8 18.6 3.6 1.3 2.4
(ii)Investments 0.3 0.3 0.4 0.4 0.4 1.7
3.Inventories 25.6 94.1 65.5 176.2 156.0 96.3
C.Fixed Assets:
4.Total assets (B4+C2) 391.6 674.4 670.8 969.4 1271.3 1172.1
D.Operation:
1.Gross sales 407.3 554.0 456.3 768.1 805.4 867.6
(i)Local sales 363.2 537.8 456.3 768.1 779.3 842.3
(ii)Export sales 44.1 16.2 0.0 0.0 26.1 25.3
2.Cost of Sales 373.0 513.4 413.1 675.9 731.5 801.4
3.Gross profit 34.3 40.6 43.2 92.2 73.9 66.2
8.Tax provision 0.0 2.4 2.3 3.9 4.5 4.3
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -18.5 159.7 86.0 -50.8 276.8 49.4
3.Finance from outside the company (E1-E2) -26.8 152.2 69.5 -80.7 304.7 70.9
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -5.4 172.8 97.1 -33.8 276.8 78.0
6.Self financing ratio (E2 as % of E1) - 4.7 19.2 -58.9 -10.1 -43.5
1.Dividend cover ratio [(D7 - D8) as % of D9] - - 1369.2 0.0 0.0 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -41.3 18.5 106.3 68.2 -169.4 -27.3
44
Dar Es Salaam Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 16.0 -16.9 143.0 126.0 224.8 127.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.0 33.5 30.1 1.1 3.2 4.8
(i)Cash 5.0 33.5 30.1 1.1 3.2 4.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 52.2 160.1 136.9 129.3 115.5 188.0
C.Fixed Assets:
4.Total assets (B4+C2) 310.9 552.2 762.3 693.9 951.8 937.0
D.Operation:
1.Gross sales 484.0 653.7 475.6 698.4 779.2 730.7
(i)Local sales 307.8 232.3 182.1 411.4 410.4 454.3
(ii)Export sales 176.2 421.4 293.5 287.0 368.8 276.4
2.Cost of Sales 443.5 612.0 409.4 622.0 716.7 730.2
3.Gross profit 40.5 41.7 66.2 76.4 62.5 0.5
8.Tax provision 2.4 6.6 4.3 4.5 5.5 3.7
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 10.8 -4.2 26.2 19.5 -1.5 -49.6
6.Self financing ratio (E2 as % of E1) -30.3 -28.7 6.7 -67.9 -108.5 135.8
7.Cash flow ratio F1 as % of F2 25.4 -3.7 14.6 24.7 -1.9 236.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -175.0 316.7 -176.0 -231.6 84.0 184.8
45
Data Textiles Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 31.3 -94.1 -158.0 38.7 -28.1 -72.2
3.Shareholder's Equity (A1+A2) 130.4 5.0 -58.9 137.8 71.0 26.9
5.Debentures 10.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 141.2 77.8 -3.3 188.5 136.6 26.9
B.Liquidity:
1.Liquid Assets: 1.6 1.4 2.3 2.1 0.8 0.7
(i)Cash 1.6 1.4 2.3 2.1 0.8 0.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 19.4 128.3 169.6 70.7 47.4 0.0
7.Net Current Assets(B4-B5) 82.3 -69.7 -162.6 -133.9 -155.5 -48.3
C.Fixed Assets:
4.Total assets (B4+C2) 196.3 314.7 352.8 474.7 406.2 180.1
D.Operation:
1.Gross sales 317.5 311.8 241.2 551.1 98.7 0.0
(i)Local sales 317.5 311.8 241.2 551.1 98.7 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 314.3 325.1 279.8 555.9 152.0 0.0
3.Gross profit 3.2 -13.3 -38.6 -4.8 -53.3 0.0
5.Operating profit 38.8 -22.1 -47.3 -14.9 -56.2 -8.3
7.Net profit before tax (D5-D6) 32.1 -33.2 -65.4 -41.7 -66.4 -12.2
8.Tax provision 1.4 1.4 1.2 2.7 0.5 39.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 144.7 -63.4 -81.1 191.8 -51.9 -109.7
2.Retention in business (D7-D8-D9) 30.7 -34.6 -66.6 -44.4 -66.9 -51.6
3.Finance from outside the company (E1-E2) 114.0 -28.8 -14.5 236.2 15.0 -58.1
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 37.2 -28.1 -53.7 -10.9 -37.1 126.5
2.Depreciation for the year plus changes in capital employed (C3+E1) 151.2 -56.9 -68.2 225.3 -22.1 68.4
1.Gearing ratio (A7 as % of A8) 7.6 93.6 - 26.9 48.0 0.0
4.Debt equity ratio (B6 as % of A3) 50.6 6196.0 - 244.4 472.3 569.5
5.Return on assets (D7 as % of C4) 16.4 -10.5 -18.5 -8.8 -16.3 -6.8
6.Self financing ratio (E2 as % of E1) 21.2 - - -23.1 128.9 47.0
7.Cash flow ratio F1 as % of F2 24.6 - - -4.8 167.9 184.9
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 131.6 5.0 -59.4 139.1 71.6 27.1
10.Financial expenses as % of operating profit (D6 as % of D5) 17.3 - - -179.9 -18.1 -47.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 4.4 - - -6.5 -0.8 -323.0
15.Return on Equity (D7 as % of A3) 24.6 -664.0 - -30.3 -93.5 -45.4
2.Dividend ratio to equity (D9 as % of A3) 0.0 0.0 - 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) 10.1 -10.6 -27.1 -7.6 -67.3 0.0
4.Earning per share before tax (D7/No. of ordinary shares) 3.2 -3.4 -6.6 -4.2 -6.7 -1.2
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 3.1 -3.5 -6.7 -4.5 -6.8 -5.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -228.0 -206.3 94.1 -36.4 59.5 -82.1
10.Break-up value of ordinary shares (in rupees) 13.2 0.5 -5.9 13.9 7.2 2.7
46
Dawood Lawrencepur Tex.Ltd. (Dawod Coton Mills) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1234.4 3176.5 3510.2 5786.1 5786.1 1115.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1119.2 2411.7 2568.8 4772.7 4772.7 66.3
(i)Cash 8.4 102.2 57.7 34.4 34.4 62.0
(ii)Investments 1110.8 2309.5 2511.1 4738.3 4738.3 4.3
3.Inventories 155.8 968.1 1013.3 827.5 827.5 196.1
9.Net liquid assets (B1-B5) 944.1 1607.1 1694.1 4061.4 4061.4 -142.0
C.Fixed Assets:
4.Total assets (B4+C2) 1647.9 4454.0 4823.1 6928.9 6928.9 1791.1
D.Operation:
1.Gross sales 750.7 1851.4 1376.7 1870.5 1870.5 368.3
(i)Local sales 750.7 1761.2 1238.8 1850.4 1850.4 368.3
(ii)Export sales 0.0 90.2 137.9 20.1 20.1 0.0
2.Cost of Sales 709.5 1705.6 1249.4 1770.2 1770.2 294.4
3.Gross profit 41.2 145.8 127.3 100.3 100.3 73.9
7.Net profit before tax (D5-D6) 82.8 162.8 499.8 -3.1 -3.1 134.7
8.Tax provision 6.6 14.1 13.0 14.3 14.3 10.1
2.Retention in business (D7-D8-D9) 20.5 61.0 486.8 -17.4 -17.4 124.6
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 2.3 2.8 162.8 -0.8 0.0 -2.7
7.Cash flow ratio F1 as % of F2 4.3 4.4 155.6 2.5 77.4 -3.2
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 8.0 8.7 2.6 -461.3 -461.3 7.5
15.Return on Equity (D7 as % of A3) 5.7 4.6 12.9 -0.1 -0.1 8.5
1.Dividend cover ratio [(D7 - D8) as % of D9] 136.8 169.6 - 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) 11.0 8.8 36.3 -0.2 -0.2 36.6
4.Earning per share before tax (D7/No. of ordinary shares) 3.7 4.6 14.2 -0.1 -0.1 2.9
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 3.4 4.2 13.9 -0.5 -0.5 2.7
47
Dewan Farooque Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
1.Ordinary Share Capital - - - 600.0 600.0 600.0
2.Surplus - - - 6.8 21.7 52.4
3.Shareholder's Equity (A1+A2) - - - 606.8 621.7 652.4
4.Prefrence Shares - - - 0.0 0.0 0.0
5.Debentures - - - 0.0 0.0 243.8
6.Other Fixed Laibilities - - - 495.9 351.2 442.2
7.Total Fixed Laibilities (A4+A5+A6) - - - 495.9 351.2 686.0
8.Total Capital Employed (A3+A7) - - - 1102.7 972.9 1338.4
B.Liquidity:
1.Liquid Assets: - - - 5.7 1.8 10.0
(i)Cash - - - 5.7 1.8 2.0
(ii)Investments - - - 0.0 0.0 8.0
2.Other Current Assets - - - 160.1 256.8 217.5
3.Inventories - - - 263.0 272.1 325.3
4.Current Assets (B1+B2+B3) - - - 428.8 530.7 552.8
5.Current Liabilities - - - 751.2 890.3 488.4
6.Total Liabilities(A7+B5) - - - 1247.1 1241.5 1174.4
7.Net Current Assets(B4-B5) - - - -322.4 -359.6 64.4
8.Contractual Liabilities - - - 592.0 550.2 975.6
9.Net liquid assets (B1-B5) - - - -745.5 -888.5 -478.4
C.Fixed Assets:
1.Fixed Asset At Cost - - - 1390.4 1390.4 1589.7
2.Fixed assets after deducting accumulated depreciation - - - 1425.0 1332.6 1273.8
3.Depreciation for the year - - - 59.7 140.1 126.4
4.Total assets (B4+C2) - - - 1853.8 1863.3 1826.6
D.Operation:
1.Gross sales - - - 306.8 881.0 1015.8
(i)Local sales - - - 73.9 388.3 383.8
(ii)Export sales - - - 232.9 492.7 632.0
2.Cost of Sales - - - 244.9 745.2 894.8
3.Gross profit - - - 61.9 135.8 121.0
4.Overhead and Other Expenses - - - 248.0 756.6 946.2
5.Operating profit - - - 58.8 124.4 69.6
6.Financial expenses - - - 45.0 118.1 108.0
7.Net profit before tax (D5-D6) - - - 13.8 6.3 -38.4
8.Tax provision - - - 3.4 7.1 96.6
9.Total amount of dividend - - - 0.0 0.0 0.0
10.Total value of bonus shares issued - - - 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - - -129.8 365.5
2.Retention in business (D7-D8-D9) - - - 10.4 -0.8 -135.0
3.Finance from outside the company (E1-E2) - - - - -129.0 500.5
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - 70.1 139.3 -8.6
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - - 10.3 491.9
2.Current ratio (B4 as % of B5) - - - 57.1 59.6 113.2
3.Acid test or Quick ratio (B4-B3 as % B5) - - - 22.1 29.0 46.6
5.Return on assets (D7 as % of C4) - - - 0.7 0.3 -2.1
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - - - 101.1 103.6 108.7
10.Financial expenses as % of operating profit (D6 as % of D5) - - - 76.5 94.9 155.2
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - 24.6 112.7 -251.6
3.Net profit margin (D7 as % of D1) - - - 4.5 0.7 -3.8
4.Earning per share before tax (D7/No. of ordinary shares) - - - 0.2 0.1 -0.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - - 0.2 0.0 -2.3
6.Average annual % depreciation on written down fixed assets - - - 5.0 9.8 9.5
7.Sales as % of total assets (D1 as % of C4) - - - 16.5 47.3 55.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - -80.0 -50.0 -700.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - - 187.2 15.3
10.Break-up value of ordinary shares (in rupees) - - - 10.1 10.4 10.9
48
Dewan Khalid Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 253.0 264.9 264.2 241.6 513.1 232.7
5.Debentures 34.4 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 71.3 72.2 68.7 68.4 342.6 170.0
(i)Cash 6.3 7.2 3.7 3.4 2.0 10.2
(ii)Investments 65.0 65.0 65.0 65.0 340.6 159.8
3.Inventories 570.7 432.3 545.3 583.1 657.2 366.2
C.Fixed Assets:
4.Total assets (B4+C2) 1007.0 937.9 1067.6 1123.8 1445.8 1039.2
D.Operation:
1.Gross sales 631.1 881.8 374.1 811.8 565.6 1205.9
(i)Local sales 631.1 881.8 365.3 720.7 534.4 1200.3
(ii)Export sales 0.0 0.0 8.8 91.1 31.2 5.6
2.Cost of Sales 557.9 811.5 322.8 707.2 466.2 1173.2
3.Gross profit 73.2 70.3 51.3 104.6 99.4 32.7
8.Tax provision 3.5 8.1 4.8 5.8 2.8 6.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 2.7 67.3 -17.8 -46.4 260.6 -248.2
3.Finance from outside the company (E1-E2) -9.9 46.9 -25.7 -49.4 257.8 -168.7
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 23.8 87.4 -3.8 -26.4 279.6 -229.5
6.Self financing ratio (E2 as % of E1) 466.7 30.3 - -6.5 1.1 32.0
7.Cash flow ratio F1 as % of F2 141.6 46.3 - -87.1 7.8 26.5
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 70.8 63.4 -59.7 0.0 -63.0 -1390.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -5.1 39.7 -57.6 117.0 -30.3 113.2
49
Dewan Mushtaq Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 147.1 165.9 174.5 131.0 307.8 188.4
5.Debentures 169.4 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 45.7 43.6 43.7 48.4 221.1 126.1
(i)Cash 5.7 3.6 3.7 8.4 11.5 27.8
(ii)Investments 40.0 40.0 40.0 40.0 209.6 98.3
3.Inventories 643.3 650.9 713.1 635.1 571.1 257.2
C.Fixed Assets:
4.Total assets (B4+C2) 1284.5 1279.0 1320.0 1253.2 1380.9 896.1
D.Operation:
1.Gross sales 750.2 1117.5 650.4 1066.8 1137.0 1526.8
(i)Local sales 562.0 816.9 635.4 987.5 1046.3 1446.4
(ii)Export sales 188.2 300.6 15.0 79.3 90.7 80.4
2.Cost of Sales 651.8 1030.5 595.0 971.2 1043.4 1510.8
3.Gross profit 98.4 87.0 55.4 95.6 93.6 16.0
8.Tax provision 3.3 5.8 3.1 6.7 10.7 7.9
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 57.7 -40.5 -35.0 -102.3 179.9 -119.4
3.Finance from outside the company (E1-E2) 41.0 -56.8 -50.3 -115.5 174.8 -77.9
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 94.7 -3.5 -3.0 -61.4 218.4 -83.5
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 165.6 1.2 -24.4 -1.5 -28.1 -313.0
50
Dewan Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 708.4 678.8 715.1 1623.3 1613.4 815.6
5.Debentures 275.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 216.8 216.8 213.3 1169.4 1114.5 528.7
(i)Cash 6.8 6.8 3.3 1.4 14.3 12.5
(ii)Investments 210.0 210.0 210.0 1168.0 1100.2 516.2
3.Inventories 730.4 1694.6 1584.6 1456.9 1507.9 1714.9
7.Net Current Assets(B4-B5) 122.3 -42.2 -85.7 707.7 682.4 417.0
C.Fixed Assets:
4.Total assets (B4+C2) 2759.4 3748.7 3424.2 4332.3 4348.5 4317.1
D.Operation:
1.Gross sales 2827.5 2860.0 2007.3 2320.8 2576.1 3232.7
(i)Local sales 1639.0 1895.1 1428.6 2320.8 1595.1 1815.3
(ii)Export sales 1188.5 964.9 578.7 0.0 981.0 1417.4
2.Cost of Sales 2520.1 2614.1 1792.4 1973.8 2201.6 3055.4
3.Gross profit 307.4 245.9 214.9 347.0 374.5 177.3
8.Tax provision 13.1 2.0 13.3 14.4 13.2 18.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 100.5 -118.7 51.1 849.1 -51.1 -192.3
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 195.6 -23.9 120.3 941.1 49.9 -83.0
6.Self financing ratio (E2 as % of E1) 19.3 - 31.3 3.4 -26.0 120.0
7.Cash flow ratio F1 as % of F2 58.5 - 70.8 12.8 229.1 146.3
51
Din Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 705.2 664.8 721.4 539.6 705.9 887.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 39.0 61.7 18.8 25.9 8.6 23.6
(i)Cash 39.0 61.7 18.8 25.9 8.6 23.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 180.5 434.5 735.6 538.3 644.7 559.3
C.Fixed Assets:
4.Total assets (B4+C2) 1300.2 1827.4 3238.2 3047.9 3162.1 3128.8
D.Operation:
1.Gross sales 1593.5 1815.0 1443.0 2510.9 2772.4 3101.1
(i)Local sales 425.8 649.5 1200.2 2504.5 1295.1 1504.1
(ii)Export sales 1167.7 1165.5 242.8 6.4 1477.3 1597.0
2.Cost of Sales 1370.4 1683.4 1323.9 2277.3 2479.0 2765.9
3.Gross profit 223.1 131.6 119.1 233.6 293.4 335.2
8.Tax provision 11.2 14.6 6.5 2.0 20.3 15.8
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -18.8 120.5 1167.6 -766.6 4.1 -57.5
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 18.8 1.4 -4.3 1712.2 -202.8
7.Cash flow ratio F1 as % of F2 286.4 48.5 8.6 -44.6 130.8 222.1
52
Elahi Cotton Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -82.1 -89.4 -48.3 -55.5 -59.6 -45.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.0 0.2 0.6 1.1 0.6
(i)Cash 0.0 0.0 0.2 0.6 1.1 0.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 1.7 0.0 2.8 4.2 3.3 4.7
C.Fixed Assets:
4.Total assets (B4+C2) 65.1 55.3 54.4 54.3 52.0 50.5
D.Operation:
1.Gross sales 2.0 2.1 9.8 71.1 109.7 148.2
(i)Local sales 2.0 2.1 9.8 71.1 109.7 148.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 7.3 5.2 11.7 72.5 111.3 150.5
3.Gross profit -5.3 -3.1 -1.9 -1.4 -1.6 -2.3
5.Operating profit -5.3 -3.6 42.9 -0.7 -2.2 15.4
7.Net profit before tax (D5-D6) -6.6 -6.0 41.1 -3.1 -4.6 15.2
8.Tax provision 0.0 0.0 0.1 0.4 0.6 0.7
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -17.6 -16.5 13.3 -22.3 -7.9 18.4
2.Retention in business (D7-D8-D9) -6.6 -6.0 41.0 -3.5 -5.2 14.5
3.Finance from outside the company (E1-E2) -11.0 -10.5 -27.7 -18.8 -2.7 3.9
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -3.3 -3.1 42.9 -1.2 -3.1 16.4
2.Depreciation for the year plus changes in capital employed (C3+E1) -14.3 -13.6 15.2 -20.0 -5.8 20.3
5.Return on assets (D7 as % of C4) -10.1 -10.8 75.6 -5.7 -8.8 30.1
7.Cash flow ratio F1 as % of F2 - - 282.2 6.0 53.4 80.8
10.Financial expenses as % of operating profit (D6 as % of D5) - - 4.2 -342.9 -109.1 1.3
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - 0.2 -12.9 -13.0 4.6
3.Net profit margin (D7 as % of D1) -330.0 -285.7 419.4 -4.4 -4.2 10.3
4.Earning per share before tax (D7/No. of ordinary shares) -5.1 -4.6 31.6 -2.4 -3.5 11.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -5.1 -4.6 31.5 -2.7 -4.0 11.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -51.0 -9.8 -787.0 -107.6 45.8 -434.3
53
Ellcot Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 150.2 221.1 282.0 284.1 331.6 374.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 211.6 56.3 49.2 73.4 114.3 53.6
(i)Cash 11.6 6.3 49.2 73.4 114.3 53.6
(ii)Investments 200.0 50.0 0.0 0.0 0.0 0.0
3.Inventories 157.4 308.0 281.5 249.5 304.5 565.5
7.Net Current Assets(B4-B5) -8.5 -8.3 21.9 -45.3 50.8 -1.4
C.Fixed Assets:
4.Total assets (B4+C2) 1003.4 1279.9 1363.5 1318.7 1688.9 1806.5
D.Operation:
1.Gross sales 824.8 1200.4 1003.0 1489.2 1608.3 1841.5
(i)Local sales 398.2 1038.3 868.7 1489.2 1082.3 1226.0
(ii)Export sales 426.6 162.1 134.3 0.0 526.0 615.5
2.Cost of Sales 732.0 1060.7 867.3 1291.8 1412.1 1574.0
3.Gross profit 92.8 139.7 135.7 197.4 196.2 267.5
8.Tax provision 5.7 5.3 4.5 7.5 8.0 9.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 172.1 314.1 131.2 -63.7 182.0 -70.8
3.Finance from outside the company (E1-E2) 141.2 222.2 92.2 -114.6 125.3 -145.9
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 18.0 29.3 29.7 -79.9 31.2 -106.1
1.Dividend cover ratio [(D7 - D8) as % of D9] 288.4 - 278.1 410.4 0.0 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 9.1 85.4 -32.6 13.3 -13.2 30.5
54
Faisal Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 459.1 502.9 619.0 748.1 927.9 957.2
5.Debentures 4.2 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 41.0 39.4 27.7 140.8 154.3 167.4
(i)Cash 29.1 27.5 15.8 29.5 24.2 26.6
(ii)Investments 11.9 11.9 11.9 111.3 130.1 140.8
3.Inventories 315.4 316.8 698.4 588.1 685.8 877.9
7.Net Current Assets(B4-B5) -1.0 -108.0 -257.2 143.1 -66.0 12.8
C.Fixed Assets:
4.Total assets (B4+C2) 1733.3 2275.6 2819.9 2642.4 2969.9 3041.8
D.Operation:
1.Gross sales 1864.7 3018.7 2457.8 3236.5 3396.5 3725.5
(i)Local sales 283.1 517.5 514.0 560.1 1523.0 1722.9
(ii)Export sales 1581.6 2501.2 1943.8 2676.4 1873.5 2002.6
2.Cost of Sales 1609.7 2810.9 2154.6 2843.2 3040.3 3353.5
3.Gross profit 255.0 207.8 303.2 393.3 356.2 372.0
8.Tax provision 20.3 33.0 26.3 43.8 25.6 27.8
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 288.2 398.9 -23.1 355.5 -155.8 -42.7
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 30.3 8.2 - 22.9 -56.1 -184.5
55
Fateh Sports Wear Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -11.1 -22.5 -44.2 -61.0 -85.0 -82.5
3.Shareholder's Equity (A1+A2) 8.9 -2.5 -24.2 -41.0 -65.0 -62.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 8.9 -2.5 -24.2 -41.0 -65.0 -62.5
B.Liquidity:
1.Liquid Assets: 0.2 0.0 0.0 0.0 0.0 0.0
(i)Cash 0.2 0.0 0.0 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 21.0 21.4 30.2 18.0 14.8 6.0
C.Fixed Assets:
4.Total assets (B4+C2) 311.8 285.0 274.5 271.1 264.1 279.3
D.Operation:
1.Gross sales 0.6 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.6 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 2.2 0.0 0.0 0.0 0.0 0.0
3.Gross profit -1.6 0.0 0.0 0.0 0.0 0.0
5.Operating profit 29.6 1.8 -8.4 -3.6 -7.4 14.8
8.Tax provision 1.1 0.0 0.0 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -3.5 -11.4 -21.7 -16.8 -24.0 2.5
2.Retention in business (D7-D8-D9) -3.1 -11.3 -21.6 -16.8 -23.9 2.5
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -1.4 -8.1 -18.8 -14.7 -22.0 4.2
2.Depreciation for the year plus changes in capital employed (C3+E1) -1.8 -8.2 -18.9 -14.7 -22.1 4.2
1.Gearing ratio (A7 as % of A8) 0.0 - - 0.0 0.0 0.0
4.Debt equity ratio (B6 as % of A3) 3402.2 - - 0.0 0.0 0.0
7.Cash flow ratio F1 as % of F2 - - - 100.0 99.5 100.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 44.5 -12.5 -121.0 -205.0 -325.0 -312.5
9.Overhead and other expenses as % of gross sales (D4 as % D1) 1483.3 - - 0.0 0.0 0.0
10.Financial expenses as % of operating profit (D6 as % of D5) 106.8 727.8 - -366.7 -223.0 83.1
11.Financial expense as % of gross sales (D6 as % of D1) 5266.7 - - 0.0 0.0 0.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - 0.0 0.0 0.0
14.Sundry debtors as % of gross sales 27283.3 - - 0.0 0.0 0.0
15.Return on Equity (D7 as % of A3) -22.5 - - 0.0 0.0 0.0
2.Dividend ratio to equity (D9 as % of A3) 0.0 - - 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) -333.3 - - 0.0 0.0 0.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -1.6 -5.7 -10.8 -8.4 -12.0 1.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -94.5 -100.0 - - - -
10.Break-up value of ordinary shares (in rupees) 4.5 -1.3 -12.1 -20.5 -32.5 -31.3
56
Fateh Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1463.2 1613.9 1737.7 2800.0 2769.1 2699.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 552.1 582.8 548.5 567.1 585.0 538.6
(i)Cash 23.4 59.1 24.8 40.6 56.9 12.6
(ii)Investments 528.7 523.7 523.7 526.5 528.1 526.0
3.Inventories 1710.5 2267.8 2492.3 2114.2 2267.6 2125.6
C.Fixed Assets:
4.Total assets (B4+C2) 5995.6 6883.3 6834.8 7730.6 7920.8 8893.6
D.Operation:
1.Gross sales 7179.1 7631.2 5919.7 6730.7 6343.5 4794.2
(i)Local sales 459.9 7631.2 5919.7 6730.7 6343.5 850.4
(ii)Export sales 6719.2 0.0 0.0 0.0 0.0 3943.8
2.Cost of Sales 6307.2 6720.7 5285.0 6063.8 5799.3 4350.4
3.Gross profit 871.9 910.5 634.7 666.9 544.2 443.8
8.Tax provision 43.5 38.0 32.0 38.0 51.0 29.5
3.Finance from outside the company (E1-E2) -268.3 34.0 -125.6 931.2 -302.0 -212.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 21.2 313.1 47.7 1127.7 -145.6 -118.4
6.Self financing ratio (E2 as % of E1) - 84.5 - 8.9 -20.2 0.6
7.Cash flow ratio F1 as % of F2 1365.6 89.1 363.3 17.4 -107.4 -79.1
57
Fatima Enterprises Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 229.7 285.4 741.0 611.2 618.3 856.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 53.8 28.2 131.5 190.1 155.3 155.6
(i)Cash 49.5 24.7 72.9 131.5 97.1 154.8
(ii)Investments 4.3 3.5 58.6 58.6 58.2 0.8
3.Inventories 654.5 841.6 1387.1 1421.7 2104.9 3562.3
C.Fixed Assets:
4.Total assets (B4+C2) 2317.6 2710.3 3660.8 5158.4 6476.7 8503.4
D.Operation:
1.Gross sales 4973.6 5372.4 3833.0 5347.7 6782.4 9736.4
(i)Local sales 3836.2 4118.6 2598.9 3765.7 5407.6 8167.3
(ii)Export sales 1137.4 1253.8 1234.1 1582.0 1374.8 1569.1
2.Cost of Sales 4714.3 5065.9 3568.5 5090.6 6306.6 8999.8
3.Gross profit 259.3 306.5 264.5 257.1 475.8 736.6
8.Tax provision 33.1 47.0 43.6 37.7 20.0 49.1
2.Retention in business (D7-D8-D9) 45.0 95.1 50.7 -72.9 7.0 59.5
F.Cash Flow Data
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 3.2 6.7 3.6 -5.1 0.5 4.7
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -21.4 81.8 -34.0 -137.9 -176.0 326.3
58
Fawad Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 75.3 59.5 77.4 408.0 266.3 412.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.6 1.4 3.1 0.7 3.0 0.8
(i)Cash 0.6 1.4 3.1 0.7 3.0 0.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 44.5 67.8 63.9 174.5 143.0 566.6
7.Net Current Assets(B4-B5) 32.0 15.8 -15.5 -48.1 -208.9 83.7
C.Fixed Assets:
4.Total assets (B4+C2) 373.4 384.0 401.5 913.7 939.4 1360.6
D.Operation:
1.Gross sales 556.9 621.9 438.2 571.0 597.3 579.3
(i)Local sales 345.7 456.9 252.9 571.0 416.0 579.3
(ii)Export sales 211.2 165.0 185.3 0.0 181.3 0.0
2.Cost of Sales 513.8 593.9 407.4 523.1 535.0 505.0
3.Gross profit 43.1 28.0 30.8 47.9 62.3 74.3
8.Tax provision 2.8 2.8 2.1 4.6 4.8 2.9
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -1.9 0.8 14.0 343.3 -149.8 366.7
7.Cash flow ratio F1 as % of F2 - 2875.0 117.9 9.2 -31.9 14.4
59
Fazal Cloth Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 485.1 642.7 804.5 935.1 842.9 3443.5
5.Debentures 27.2 37.5 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9.2 9.6 175.8 580.3 546.7 837.4
(i)Cash 9.2 9.6 175.8 327.3 293.7 369.5
(ii)Investments 0.0 0.0 0.0 253.0 253.0 467.9
3.Inventories 624.3 1044.0 1187.3 1402.4 1345.3 2012.3
7.Net Current Assets(B4-B5) -89.3 -146.7 3.3 176.8 -4042.1 632.6
C.Fixed Assets:
4.Total assets (B4+C2) 2155.6 3467.0 4341.5 5143.9 8345.3 9710.6
D.Operation:
1.Gross sales 3176.9 4170.1 3654.0 5238.2 6074.0 7113.9
(i)Local sales 2006.5 2239.0 1675.7 2459.4 2956.9 4003.8
(ii)Export sales 1170.4 1931.1 1978.3 2778.8 3117.1 3110.1
2.Cost of Sales 2858.1 3732.3 3077.3 4512.0 5256.7 6170.2
3.Gross profit 318.8 437.8 576.7 726.2 817.3 943.7
8.Tax provision 17.4 24.8 24.7 41.7 46.8 35.4
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 190.7 16.8 2.7 -26.0 -11.7 84.7
60
Fazal Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 668.4 621.5 741.3 684.0 648.0 658.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 91.0 9.3 3.5 2.0 1.5 14.6
(i)Cash 91.0 9.3 3.5 2.0 1.5 14.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 121.0 264.0 728.0 484.3 330.0 601.3
7.Net Current Assets(B4-B5) 150.0 80.4 133.2 93.5 -31.8 135.6
C.Fixed Assets:
4.Total assets (B4+C2) 1108.6 1387.0 1699.3 1868.8 1824.4 3328.8
D.Operation:
1.Gross sales 2277.4 2501.2 1803.3 2129.9 2381.2 2582.3
(i)Local sales 916.7 936.0 802.0 801.8 575.4 672.1
(ii)Export sales 1360.7 1565.2 1001.3 1328.1 1805.8 1910.2
2.Cost of Sales 2104.6 2409.4 1641.0 1954.3 2260.0 2442.5
3.Gross profit 172.8 91.8 162.3 175.6 121.2 139.8
8.Tax provision 22.5 17.9 20.2 24.5 28.9 20.8
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 75.7 -46.9 119.8 -57.3 -36.0 1089.6
2.Retention in business (D7-D8-D9) 75.3 -5.5 48.7 11.4 -27.6 6.4
3.Finance from outside the company (E1-E2) 0.4 -41.4 71.1 -68.7 -8.4 1083.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 99.5 - 40.7 -19.9 76.7 0.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 13.2 0.6 9.4 4.3 -4.5 1.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 64.7 -79.2 260.0 -34.1 -97.6 2100.0
61
Gadoon Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1831.7 1993.2 2087.6 2127.4 2301.8 2079.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 193.7 206.0 276.1 75.6 110.7 254.9
(i)Cash 90.4 206.0 276.1 75.6 95.5 171.6
(ii)Investments 103.3 0.0 0.0 0.0 15.2 83.3
3.Inventories 898.2 738.6 1957.2 1878.1 1246.9 2527.6
C.Fixed Assets:
4.Total assets (B4+C2) 4687.3 4595.4 5765.9 6144.7 5853.6 7542.9
D.Operation:
1.Gross sales 4561.7 7528.0 4455.1 5718.6 5205.8 6857.9
(i)Local sales 2811.3 3899.0 1718.4 3099.4 1611.7 1717.1
(ii)Export sales 1750.4 3629.0 2736.7 2619.2 3594.1 5140.8
2.Cost of Sales 4120.4 5513.5 3913.3 4918.7 4456.0 6112.3
3.Gross profit 441.3 2014.5 541.8 799.9 749.8 745.6
8.Tax provision 22.9 50.1 38.8 77.6 82.0 0.0
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -29.0 886.8 -84.1 30.3 -11.6 -141.6
62
Ghazi Fabrics International Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 497.9 403.1 334.8 270.1 -24.1 -208.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.7 6.0 14.9 4.6 3.9 0.3
(i)Cash 7.7 6.0 14.9 4.6 3.9 0.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 103.4 299.4 205.1 371.2 359.7 582.3
C.Fixed Assets:
4.Total assets (B4+C2) 1625.5 2062.7 2066.9 2340.3 2303.0 2443.7
D.Operation:
1.Gross sales 1456.6 2079.5 1689.2 2397.8 2715.2 2923.6
(i)Local sales 1161.1 1247.0 775.1 1273.2 1484.2 1778.8
(ii)Export sales 295.5 832.5 914.1 1124.6 1231.0 1144.8
2.Cost of Sales 1442.9 2022.8 1635.6 2211.4 2666.2 2857.8
3.Gross profit 13.7 56.7 53.6 186.4 49.0 65.8
7.Net profit before tax (D5-D6) -43.9 -84.5 -114.3 28.9 -178.4 -161.7
8.Tax provision 7.3 10.4 9.9 15.1 14.8 14.6
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 175.8 89.2 108.3 161.0 -601.7 -395.7
2.Retention in business (D7-D8-D9) -51.2 -94.9 -124.2 10.6 -193.2 -176.3
3.Finance from outside the company (E1-E2) 227.0 184.1 232.5 150.4 -408.5 -219.4
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 80.7 30.7 -5.6 163.5 -26.1 -19.6
5.Return on assets (D7 as % of C4) -2.7 -4.1 -5.5 1.2 -7.7 -6.6
6.Self financing ratio (E2 as % of E1) -29.1 -106.4 -114.7 6.6 32.1 44.6
7.Cash flow ratio F1 as % of F2 26.2 14.3 -2.5 52.1 6.0 8.2
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - 52.2 -8.3 -9.0
15.Return on Equity (D7 as % of A3) -5.3 -11.6 -17.3 4.8 -59.0 -137.0
3.Net profit margin (D7 as % of D1) -3.0 -4.1 -6.8 1.2 -6.6 -5.5
4.Earning per share before tax (D7/No. of ordinary shares) -1.3 -2.6 -3.5 0.9 -5.5 -5.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -1.6 -2.9 -3.8 0.4 -5.9 -5.4
63
Glamour Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 83.9 29.0 140.3 110.3 59.4 93.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4.0 2.8 9.8 3.9 2.7 2.1
(i)Cash 4.0 2.8 9.8 3.9 2.7 2.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 16.2 52.0 172.5 97.2 96.4 176.0
C.Fixed Assets:
4.Total assets (B4+C2) 534.1 594.1 720.0 709.9 748.8 884.1
D.Operation:
1.Gross sales 494.0 659.3 450.2 713.6 766.6 731.1
(i)Local sales 475.9 602.7 318.5 401.2 382.0 663.5
(ii)Export sales 18.1 56.6 131.7 312.4 384.6 67.6
2.Cost of Sales 523.1 729.0 422.6 681.4 750.0 689.7
3.Gross profit -29.1 -69.7 27.6 32.2 16.6 41.4
5.Operating profit -40.0 -75.6 12.6 4.6 -15.8 23.2
8.Tax provision 2.1 2.6 2.1 4.7 5.8 3.7
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -56.6 194.1 -87.7 -13.3 -82.5 281.9
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -10.2 -57.0 26.1 6.1 -12.1 16.1
6.Self financing ratio (E2 as % of E1) - -50.0 - 221.1 61.7 -8.3
7.Cash flow ratio F1 as % of F2 - -24.3 - 27.5 27.7 5.0
10.Financial expenses as % of operating profit (D6 as % of D5) - - 101.6 637.0 -185.4 184.9
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 15.8 84.1 -100.0 0.0 85.7 -56.4
64
Globe Textile Mills (OE) Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 38.7 32.8 51.6 23.6 23.6 23.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4.3 1.4 1.3 1.3 1.3 1.3
(i)Cash 4.3 1.4 1.3 1.3 1.3 1.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 79.1 132.7 138.7 186.5 186.5 186.5
C.Fixed Assets:
4.Total assets (B4+C2) 342.3 419.6 472.9 546.7 546.7 546.7
D.Operation:
1.Gross sales 420.2 560.3 454.2 215.9 215.9 215.9
(i)Local sales 420.2 560.3 454.2 215.9 215.9 215.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 397.7 523.8 424.1 214.6 214.6 214.6
3.Gross profit 22.5 36.5 30.1 1.3 1.3 1.3
7.Net profit before tax (D5-D6) 1.3 4.8 7.5 -23.9 -23.9 -23.9
8.Tax provision 2.1 2.4 2.0 1.1 1.1 1.1
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 46.5 15.6 67.1 -68.1 0.0 0.0
2.Retention in business (D7-D8-D9) -0.8 2.4 5.5 -25.0 -25.0 -25.0
3.Finance from outside the company (E1-E2) 47.3 13.2 61.6 -43.1 25.0 25.0
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 0.4 1.1 1.6 -4.4 -4.4 -4.4
6.Self financing ratio (E2 as % of E1) -1.7 15.4 8.2 36.7 0.0 0.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 161.5 50.0 26.7 -4.6 -4.6 -4.6
15.Return on Equity (D7 as % of A3) 1.6 6.2 7.8 -34.0 -34.0 -34.0
3.Net profit margin (D7 as % of D1) 0.3 0.9 1.7 -11.1 -11.1 -11.1
4.Earning per share before tax (D7/No. of ordinary shares) 0.3 1.1 1.7 -5.1 -5.1 -5.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -0.2 0.5 1.2 -5.4 -5.4 -5.4
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -78.6 266.7 54.5 -400.0 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 4.7 33.3 -18.9 -52.5 0.0 0.0
65
Globe Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 156.8 100.8 482.7 -77.8 -180.3 -204.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.8 2.4 2.8 0.4 1.8 0.0
(i)Cash 1.8 2.4 2.8 0.4 1.8 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 249.7 641.0 829.4 246.8 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 1298.5 1719.8 2085.4 1421.9 860.7 740.1
D.Operation:
1.Gross sales 1179.4 1390.0 837.7 499.5 219.7 0.0
(i)Local sales 559.9 929.6 498.7 346.3 219.7 0.0
(ii)Export sales 619.5 460.4 339.0 153.2 0.0 0.0
2.Cost of Sales 1054.5 1241.5 749.5 590.1 301.3 43.2
3.Gross profit 124.9 148.5 88.2 -90.6 -81.6 -43.2
5.Operating profit 84.5 102.9 60.4 -455.7 -69.1 -9.9
8.Tax provision 5.9 6.3 3.9 2.5 1.1 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 46.4 -157.7 550.2 -511.8 23.1 -97.6
2.Retention in business (D7-D8-D9) 4.7 16.4 2.1 -552.7 -102.5 -24.1
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 70.6 71.3 47.4 -497.0 -6.7 8.9
2.Depreciation for the year plus changes in capital employed (C3+E1) 112.3 -102.8 595.5 -456.1 118.9 -64.6
7.Cash flow ratio F1 as % of F2 62.9 - 8.0 109.0 -5.6 -13.8
10.Financial expenses as % of operating profit (D6 as % of D5) 87.5 77.9 90.1 -20.7 -46.7 -143.4
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.3 1.1 0.1 -33.8 -6.3 -1.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -3.6 17.9 -39.7 -40.4 -56.0 -100.0
66
Gul Ahmed Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1780.1 1962.8 1953.7 1886.2 2076.8 2181.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 679.3 704.2 725.4 524.5 86.3 127.5
(i)Cash 86.3 99.0 115.5 39.9 27.8 69.0
(ii)Investments 593.0 605.2 609.9 484.6 58.5 58.5
3.Inventories 935.1 2043.9 2747.0 2887.2 2254.1 2915.6
C.Fixed Assets:
4.Total assets (B4+C2) 6096.5 9076.2 9805.2 9978.9 10053.7 12369.5
D.Operation:
1.Gross sales 5581.6 6680.9 5893.1 8245.8 9872.0 11752.0
(i)Local sales 2282.3 1791.1 2394.5 3617.3 4091.6 4852.2
(ii)Export sales 3299.3 4889.8 3498.6 4628.5 5780.4 6899.8
2.Cost of Sales 4512.8 5625.3 4929.8 7081.2 8446.1 10052.9
3.Gross profit 1068.8 1055.6 963.3 1164.6 1425.9 1699.1
8.Tax provision 75.0 60.1 39.0 47.0 67.4 66.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 50.6 31.3 12.1 -27.9 -201.6 16.6
67
Gulistan Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 122.2 121.8 134.6 216.6 213.6 213.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 53.7 50.0 40.9 76.2 93.0 93.0
(i)Cash 44.8 40.1 30.4 55.0 69.7 69.7
(ii)Investments 8.9 9.9 10.5 21.2 23.3 23.3
3.Inventories 76.4 295.3 396.0 313.4 419.4 419.4
C.Fixed Assets:
4.Total assets (B4+C2) 609.0 878.3 966.8 1188.8 1345.3 1345.3
D.Operation:
1.Gross sales 724.2 856.3 609.1 930.9 1067.2 1067.2
(i)Local sales 238.5 360.4 195.8 930.9 332.2 332.2
(ii)Export sales 485.7 495.9 413.3 0.0 735.0 735.0
2.Cost of Sales 645.6 800.3 536.4 791.5 912.4 912.4
3.Gross profit 78.6 56.0 72.7 139.4 154.8 154.8
8.Tax provision 6.1 6.2 5.2 9.6 10.9 10.9
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 108.1 -36.5 47.0 156.0 -178.6 0.0
3.Finance from outside the company (E1-E2) 108.4 -35.6 33.8 143.2 121.3 299.9
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 135.8 -8.4 66.9 195.2 -134.2 44.4
7.Cash flow ratio F1 as % of F2 20.2 - 49.5 26.6 190.4 -575.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.7 -0.1 1.3 1.3 -27.3 -27.3
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -1400.0 -61.5 260.0 22.2 -1295.5 0.0
68
Gulistan Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 852.0 826.3 941.9 2126.9 2333.7 2371.8
5.Debentures 605.5 0.0 52.9 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 379.4 391.9 402.3 1319.7 1515.9 1517.7
(i)Cash 47.1 35.8 38.7 34.8 55.4 28.8
(ii)Investments 332.3 356.1 363.6 1284.9 1460.5 1488.9
3.Inventories 585.8 1097.3 1407.5 1573.2 1892.0 2872.1
C.Fixed Assets:
4.Total assets (B4+C2) 3000.5 3611.1 4079.7 5757.0 6639.2 7822.0
D.Operation:
1.Gross sales 3129.4 3904.4 2705.6 3651.7 4326.5 5249.8
(i)Local sales 1720.6 2335.2 1502.8 3651.7 2900.4 3517.5
(ii)Export sales 1408.8 1569.2 1202.8 0.0 1426.1 1732.3
2.Cost of Sales 2791.8 3615.1 2415.0 3082.9 3756.5 4513.1
3.Gross profit 337.6 289.3 290.6 568.8 570.0 736.7
8.Tax provision 22.1 20.1 15.3 18.7 21.6 26.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 253.9 -182.3 162.4 1383.6 135.8 -74.8
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 372.2 -58.5 250.5 1519.0 276.1 14.8
6.Self financing ratio (E2 as % of E1) 14.0 - 28.1 5.7 27.2 -131.1
69
Gulshan Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 444.5 455.3 484.7 758.0 778.1 811.9
5.Debentures 400.0 479.2 127.9 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 89.0 74.8 47.8 200.7 194.8 236.7
(i)Cash 67.4 47.8 21.5 74.1 88.8 129.2
(ii)Investments 21.6 27.0 26.3 126.6 106.0 107.5
3.Inventories 539.9 664.5 936.8 815.4 1159.7 1302.4
C.Fixed Assets:
4.Total assets (B4+C2) 1984.9 2177.3 2580.1 3077.3 3390.3 3601.1
D.Operation:
1.Gross sales 1848.2 2077.5 1658.6 2304.9 2003.9 2210.9
(i)Local sales 782.3 1292.8 904.0 1140.1 643.1 670.8
(ii)Export sales 1065.9 784.7 754.6 1164.8 1360.8 1540.1
2.Cost of Sales 1660.6 1921.1 1481.1 1959.6 1653.4 1805.1
3.Gross profit 187.6 156.4 177.5 345.3 350.5 405.8
8.Tax provision 13.6 9.7 9.6 14.6 20.3 15.1
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 209.1 -47.1 88.9 38.2 -55.3 95.2
70
Hafiz Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - - - -123.0 -120.2 -19.8
3.Shareholder's Equity (A1+A2) - - - -111.0 -108.2 -7.8
5.Debentures - - - 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) - - - 16.9 18.6 -7.8
B.Liquidity:
1.Liquid Assets: - - - 0.5 0.2 0.7
(i)Cash - - - 0.5 0.2 0.7
(ii)Investments - - - 0.0 0.0 0.0
3.Inventories - - - 0.0 0.0 0.0
7.Net Current Assets(B4-B5) - - - -77.2 -73.8 -99.7
C.Fixed Assets:
4.Total assets (B4+C2) - - - 97.8 95.0 94.1
D.Operation:
1.Gross sales - - - 0.0 0.0 0.0
(i)Local sales - - - 0.0 0.0 0.0
(ii)Export sales - - - 0.0 0.0 0.0
2.Cost of Sales - - - 0.0 0.0 0.0
3.Gross profit - - - 0.0 0.0 0.0
7.Net profit before tax (D5-D6) - - - 0.2 0.4 1.1
8.Tax provision - - - 0.8 0.2 0.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - - - -26.4
2.Retention in business (D7-D8-D9) - - - -0.6 0.2 0.9
3.Finance from outside the company (E1-E2) - - - - - -27.3
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - 1.3 2.0 93.2
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - - - 65.9
5.Return on assets (D7 as % of C4) - - - 0.2 0.4 1.2
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - - - -925.0 -901.7 -65.0
3.Net profit margin (D7 as % of D1) - - - 0.0 0.0 0.0
4.Earning per share before tax (D7/No. of ordinary shares) - - - 0.2 0.3 0.9
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - - -0.5 0.2 0.8
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - -80.0 -70.0 200.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - - - -
10.Break-up value of ordinary shares (in rupees) - - - -92.5 -90.2 -6.5
71
Haji Mohammad Ismail Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 33.2 33.9 36.9 50.8 54.3 22.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 24.1 22.4 22.1 18.3 2.2 0.1
(i)Cash 2.5 0.6 0.6 1.4 2.2 0.1
(ii)Investments 21.6 21.8 21.5 16.9 0.0 0.0
3.Inventories 54.8 117.1 148.1 106.0 64.2 27.9
C.Fixed Assets:
4.Total assets (B4+C2) 257.6 340.8 376.0 371.9 351.1 288.8
D.Operation:
1.Gross sales 264.7 460.9 366.1 625.3 265.3 70.5
(i)Local sales 262.5 460.9 334.9 520.9 248.8 70.5
(ii)Export sales 2.2 0.0 31.2 104.4 16.5 0.0
2.Cost of Sales 261.4 445.4 354.1 605.0 247.8 79.5
3.Gross profit 3.3 15.5 12.0 20.3 17.5 -9.0
5.Operating profit -2.9 11.0 5.8 13.6 4.8 -13.7
7.Net profit before tax (D5-D6) -8.1 11.0 5.1 9.8 -33.6 -23.0
8.Tax provision 1.3 2.3 1.6 3.1 1.3 0.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 77.1 -13.0 -7.6 7.8 16.5 -13.9
2.Retention in business (D7-D8-D9) -9.4 8.7 1.8 6.7 -34.9 -23.4
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -2.2 18.4 10.0 19.1 -14.8 -17.6
5.Return on assets (D7 as % of C4) -3.1 3.2 1.4 2.6 -9.6 -8.0
6.Self financing ratio (E2 as % of E1) -12.2 - - 85.9 -211.5 168.3
7.Cash flow ratio F1 as % of F2 -2.6 - 1666.7 94.6 -40.4 217.3
10.Financial expenses as % of operating profit (D6 as % of D5) - 0.0 12.1 27.9 800.0 -67.9
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 20.9 31.4 31.6 -3.9 -1.7
15.Return on Equity (D7 as % of A3) -6.1 8.2 3.7 6.5 -19.3 -16.2
3.Net profit margin (D7 as % of D1) -3.1 2.4 1.4 1.6 -12.7 -32.6
4.Earning per share before tax (D7/No. of ordinary shares) -0.8 1.1 0.5 1.0 -2.8 -1.9
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -0.9 0.9 0.4 0.7 -2.9 -2.0
72
Hajra Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 2.4 -20.9 -39.4 -87.5 -158.8 -201.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.1 15.1 12.1 35.1 35.6 4.3
(i)Cash 1.1 10.1 7.1 30.1 35.6 4.3
(ii)Investments 5.0 5.0 5.0 5.0 0.0 0.0
3.Inventories 42.2 76.0 91.5 52.2 60.8 86.7
C.Fixed Assets:
4.Total assets (B4+C2) 462.6 533.3 570.1 589.9 593.4 679.7
D.Operation:
1.Gross sales 640.1 862.9 563.5 624.1 507.5 665.2
(i)Local sales 640.1 862.9 563.5 624.1 507.5 665.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 638.8 848.8 562.1 622.3 554.4 667.5
3.Gross profit 1.3 14.1 1.4 1.8 -46.9 -2.3
8.Tax provision 3.2 3.7 2.5 3.1 2.5 3.3
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 151.3 3.0 -16.4 -165.4 -81.2 129.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -52.3 -1.0 -9.4 45.9 -52.4 -28.0
2.Depreciation for the year plus changes in capital employed (C3+E1) 167.4 20.5 -4.1 -146.3 -62.0 147.7
6.Self financing ratio (E2 as % of E1) -45.2 -616.7 - -16.2 88.2 -36.0
7.Cash flow ratio F1 as % of F2 -31.2 -4.9 - -31.4 84.5 -19.0
15.Return on Equity (D7 as % of A3) -43.3 -30.9 -65.3 59.8 0.0 0.0
1.Dividend cover ratio [(D7 - D8) as % of D9] -98.8 - - 0.0 0.0 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -509.1 -51.1 27.3 -178.6 -327.3 -38.0
73
Hala Enterprises Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -44.8 -21.0 -1.0 19.2 32.0 20.3
3.Shareholder's Equity (A1+A2) -7.0 16.8 36.8 57.0 69.8 58.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.5 2.5 1.5 3.1 2.2 2.2
(i)Cash 0.6 1.6 0.6 1.5 1.1 0.6
(ii)Investments 0.9 0.9 0.9 1.6 1.1 1.6
3.Inventories 38.0 40.0 59.1 86.3 87.7 89.7
7.Net Current Assets(B4-B5) -55.3 11.8 4.1 -35.7 -29.9 11.2
C.Fixed Assets:
4.Total assets (B4+C2) 265.1 214.1 241.9 332.5 309.7 308.1
D.Operation:
1.Gross sales 358.5 278.9 365.1 391.4 458.8 429.2
(i)Local sales 15.2 5.0 11.1 16.0 21.1 20.3
(ii)Export sales 343.3 273.9 354.0 375.4 437.7 408.9
2.Cost of Sales 286.5 237.1 270.5 295.6 358.9 358.0
3.Gross profit 72.0 41.8 94.6 95.8 99.9 71.2
8.Tax provision 2.6 2.0 2.6 3.7 4.4 4.1
F.Cash Flow Data
4.Debt equity ratio (B6 as % of A3) - 1174.4 557.1 483.2 344.0 430.3
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -18.5 44.4 97.4 150.8 184.7 153.7
15.Return on Equity (D7 as % of A3) - 143.5 51.4 18.8 12.0 -14.5
2.Dividend ratio to equity (D9 as % of A3) - 0.0 0.0 6.7 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 16.7 -22.2 30.9 7.2 17.2 -6.5
10.Break-up value of ordinary shares (in rupees) -1.9 4.4 9.7 15.1 18.5 15.4
74
Hamid Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -197.5 -296.5 -89.8 -107.8 -344.0 -344.0
3.Shareholder's Equity (A1+A2) -64.8 -163.8 42.9 24.9 -211.3 -211.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -42.3 -95.9 99.8 73.4 -172.1 -172.1
B.Liquidity:
1.Liquid Assets: 0.4 0.1 0.5 0.0 0.8 0.8
(i)Cash 0.4 0.1 0.5 0.0 0.8 0.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 8.5 41.4 70.2 95.0 70.7 70.7
C.Fixed Assets:
4.Total assets (B4+C2) 319.0 327.2 352.6 383.4 330.3 330.3
D.Operation:
1.Gross sales 41.2 71.6 314.1 392.9 380.9 380.9
(i)Local sales 37.1 71.6 266.7 375.9 367.8 367.8
(ii)Export sales 4.1 0.0 47.4 17.0 13.1 13.1
2.Cost of Sales 76.2 105.7 319.6 381.0 383.4 383.4
3.Gross profit -35.0 -34.1 -5.5 11.9 -2.5 -2.5
5.Operating profit -35.9 -13.8 -13.2 1.3 24.0 24.0
7.Net profit before tax (D5-D6) -45.6 -17.5 -20.9 -17.5 4.1 4.1
8.Tax provision 0.3 0.4 1.4 2.0 1.9 1.9
2.Retention in business (D7-D8-D9) -45.9 -17.9 -22.3 -19.5 2.2 2.2
3.Finance from outside the company (E1-E2) 1.0 -35.7 218.0 -6.9 -247.7 -2.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -28.1 -3.9 -11.6 -5.4 14.8 14.8
5.Return on assets (D7 as % of C4) -14.3 -5.3 -5.9 -4.6 1.2 1.2
6.Self financing ratio (E2 as % of E1) - - -11.4 73.9 -0.9 0.0
7.Cash flow ratio F1 as % of F2 - - -5.6 43.9 -6.4 117.5
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -48.8 -123.4 32.3 18.8 -159.2 -159.2
15.Return on Equity (D7 as % of A3) - - -48.7 -70.3 0.0 0.0
3.Net profit margin (D7 as % of D1) -110.7 -24.4 -6.7 -4.5 1.1 1.1
4.Earning per share before tax (D7/No. of ordinary shares) -3.4 -1.3 -1.6 -1.3 0.3 0.3
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -3.5 -1.3 -1.7 -1.5 0.2 0.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -5.6 -61.8 23.1 -18.8 -123.1 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -84.7 73.8 338.7 25.1 -3.1 0.0
10.Break-up value of ordinary shares (in rupees) -4.9 -12.3 3.2 1.9 -15.9 -15.9
75
Harum Textile Mills Ltd.(Nayab Spi.& Wev. Mills) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 72.1 72.1 105.5 64.2 64.2 64.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.4 0.4 2.3 14.5 14.5 14.5
(i)Cash 0.4 0.4 2.3 14.5 14.5 14.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 69.2 69.2 213.9 282.6 282.6 282.6
C.Fixed Assets:
4.Total assets (B4+C2) 574.7 574.7 897.5 942.7 942.7 942.7
D.Operation:
1.Gross sales 450.2 450.2 364.5 584.2 584.2 584.2
(i)Local sales 437.0 437.0 356.1 581.2 581.2 581.2
(ii)Export sales 13.2 13.2 8.4 3.0 3.0 3.0
2.Cost of Sales 427.7 427.7 318.5 506.1 506.1 506.1
3.Gross profit 22.5 22.5 46.0 78.1 78.1 78.1
8.Tax provision 2.2 2.2 1.9 2.9 2.9 2.9
2.Retention in business (D7-D8-D9) -8.4 -8.4 5.4 4.7 4.7 4.7
F.Cash Flow Data
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -0.9 -0.9 0.6 0.2 0.2 0.2
76
Hira Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - - - - 352.6 412.3
5.Debentures - - - - 0.0 0.0
B.Liquidity:
1.Liquid Assets: - - - - 179.9 210.3
(i)Cash - - - - 3.4 2.1
(ii)Investments - - - - 176.5 208.2
3.Inventories - - - - 766.0 1199.0
7.Net Current Assets(B4-B5) - - - - 48.0 -36.5
9.Net liquid assets (B1-B5) - - - - -909.6 -1524.1
C.Fixed Assets:
4.Total assets (B4+C2) - - - - 2447.2 3261.5
D.Operation:
1.Gross sales - - - - 1665.0 1729.2
(i)Local sales - - - - 635.4 1176.1
(ii)Export sales - - - - 1029.6 553.1
2.Cost of Sales - - - - 1412.8 1471.2
3.Gross profit - - - - 252.2 258.0
8.Tax provision - - - - 15.8 8.6
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - - - -
2.Retention in business (D7-D8-D9) - - - - 5.1 55.0
3.Finance from outside the company (E1-E2) - - - - - -
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - - 81.8 124.1
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - - - -
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - - -70.0 -10.0
77
Husein Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 305.8 337.4 366.2 327.5 309.3 291.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 11.9 6.8 9.4 9.2 4.8 4.2
(i)Cash 11.7 6.4 8.9 8.7 4.8 4.2
(ii)Investments 0.2 0.4 0.5 0.5 0.0 0.0
3.Inventories 446.1 457.8 593.8 610.0 800.1 801.4
C.Fixed Assets:
4.Total assets (B4+C2) 1421.0 1692.7 1827.3 1692.3 1970.5 1970.8
D.Operation:
1.Gross sales 1256.1 1662.6 959.3 1028.2 1155.1 1089.4
(i)Local sales 496.1 257.4 519.9 733.8 561.1 468.0
(ii)Export sales 760.0 1405.2 439.4 294.4 594.0 621.4
2.Cost of Sales 1146.0 1456.8 827.6 905.7 992.1 939.4
3.Gross profit 110.1 205.8 131.7 122.5 163.0 150.0
8.Tax provision 5.8 7.9 4.5 5.2 7.4 1.8
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -48.2 -10.3 -32.7 -125.7 -138.1 87.5
78
ICC Textiles Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 66.6 72.2 81.8 226.7 148.5 -13.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 88.4 53.2 23.7 24.7 10.2 12.1
(i)Cash 50.3 25.1 23.7 24.7 10.2 12.1
(ii)Investments 38.1 28.1 0.0 0.0 0.0 0.0
3.Inventories 113.1 121.1 226.0 237.4 246.7 179.9
C.Fixed Assets:
4.Total assets (B4+C2) 489.7 570.0 994.9 1179.1 1167.5 1065.1
D.Operation:
1.Gross sales 588.9 633.8 540.3 1205.2 1223.4 1248.7
(i)Local sales 144.5 286.5 296.2 663.8 778.0 830.2
(ii)Export sales 444.4 347.3 244.1 541.4 445.4 418.5
2.Cost of Sales 521.5 551.0 481.6 1101.4 1151.5 1268.2
3.Gross profit 67.4 82.8 58.7 103.8 71.9 -19.5
8.Tax provision 4.4 3.5 3.2 6.8 6.1 6.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -12.4 75.8 172.6 100.7 -125.9 -155.4
3.Finance from outside the company (E1-E2) -14.9 45.7 164.4 133.4 -47.5 6.6
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 39.7 4.8 -32.5 62.3 104.2
79
Ideal Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 60.3 22.6 42.5 23.7 11.3 -25.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 12.9 10.2 6.0 12.1 39.5 6.6
(i)Cash 12.9 10.2 6.0 12.1 39.5 6.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 42.5 61.4 78.5 86.9 81.0 179.2
C.Fixed Assets:
4.Total assets (B4+C2) 289.2 344.6 563.0 715.5 732.8 845.2
D.Operation:
1.Gross sales 581.5 778.3 583.5 694.0 800.2 985.1
(i)Local sales 526.1 778.3 583.5 694.0 800.2 985.1
(ii)Export sales 55.4 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 531.4 767.2 547.9 626.5 734.2 938.5
3.Gross profit 50.1 11.1 35.6 67.5 66.0 46.6
5.Operating profit 28.7 -9.1 18.8 44.6 43.8 11.2
7.Net profit before tax (D5-D6) 17.5 -17.4 5.3 12.8 -13.5 -45.3
8.Tax provision 7.2 3.4 2.6 3.6 4.3 4.9
2.Retention in business (D7-D8-D9) 0.4 -20.8 2.7 9.2 -17.8 -50.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 19.3 -0.4 20.0 40.8 25.9 -4.6
5.Return on assets (D7 as % of C4) 6.1 -5.0 0.9 1.8 -1.8 -5.4
6.Self financing ratio (E2 as % of E1) - -78.2 1.3 11.7 52.5 81.5
7.Cash flow ratio F1 as % of F2 127.0 -0.9 9.0 37.1 264.3 28.8
10.Financial expenses as % of operating profit (D6 as % of D5) 39.0 - 71.8 71.3 130.8 504.5
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 41.1 - 49.1 28.1 -31.9 -10.8
15.Return on Equity (D7 as % of A3) 11.0 -14.3 3.7 10.4 -12.2 -61.3
3.Net profit margin (D7 as % of D1) 3.0 -2.2 0.9 1.8 -1.7 -4.6
4.Earning per share before tax (D7/No. of ordinary shares) 1.8 -1.8 0.5 1.3 -1.4 -4.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 1.0 -2.1 0.3 0.9 -1.8 -5.1
80
Idrees Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 183.2 241.7 276.0 390.0 426.7 413.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 13.6 3.7 6.6 43.6 65.6 101.5
(i)Cash 13.6 3.7 6.6 43.6 65.6 101.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 237.6 183.7 299.1 266.9 328.2 489.2
C.Fixed Assets:
4.Total assets (B4+C2) 1086.6 1045.8 1229.6 1488.0 1755.6 1978.8
D.Operation:
1.Gross sales 365.8 850.8 741.3 621.0 754.3 865.7
(i)Local sales 365.5 846.1 723.8 603.0 754.3 865.7
(ii)Export sales 0.3 4.7 17.5 18.0 0.0 0.0
2.Cost of Sales 329.8 780.3 651.0 509.5 634.2 711.0
3.Gross profit 36.0 70.5 90.3 111.5 120.1 154.7
8.Tax provision 1.9 4.1 3.4 3.1 3.8 4.4
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -600.0 -366.7 -55.0 -22.2 7.1 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -56.2 132.6 -12.9 -16.2 21.5 14.8
81
Indus Dyeing & Manufacturing Co. Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 577.1 808.5 1507.0 1698.3 2101.7 2120.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9.4 29.6 35.2 28.7 972.7 977.3
(i)Cash 9.4 19.4 24.2 28.7 41.2 49.3
(ii)Investments 0.0 10.2 11.0 0.0 931.5 928.0
3.Inventories 515.9 472.4 1248.5 1467.0 1251.6 1511.1
7.Net Current Assets(B4-B5) 4.5 111.9 174.6 -319.3 676.7 976.8
C.Fixed Assets:
4.Total assets (B4+C2) 1947.2 2294.2 5023.5 6402.0 6683.7 6917.2
D.Operation:
1.Gross sales 2465.9 3743.3 3920.3 6176.5 6581.9 7312.0
(i)Local sales 1028.1 1358.6 1680.8 1985.0 2351.1 3643.9
(ii)Export sales 1437.8 2384.7 2239.5 4191.5 4230.8 3668.1
2.Cost of Sales 2054.0 3284.0 3174.3 5290.5 5636.8 6413.0
3.Gross profit 411.9 459.3 746.0 886.0 945.1 899.0
8.Tax provision 28.1 45.8 28.5 69.6 59.7 72.4
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 66.7 27.4 17.5 -19.1 41.0 -70.2
82
International Knitwear Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -10.2 -15.3 -15.2 -14.6 -8.3 5.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.7 1.5 1.4 0.6 1.4 16.0
(i)Cash 0.7 1.5 1.4 0.6 1.4 16.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 12.8 12.8 8.8 12.9 14.1 10.4
7.Net Current Assets(B4-B5) -1.8 -3.2 -4.1 -2.0 4.6 21.4
C.Fixed Assets:
4.Total assets (B4+C2) 64.6 61.2 57.2 69.2 89.2 102.1
D.Operation:
1.Gross sales 82.0 125.7 83.0 85.9 145.3 180.2
(i)Local sales 32.1 66.6 20.9 51.1 77.7 96.3
(ii)Export sales 49.9 59.1 62.1 34.8 67.6 83.9
2.Cost of Sales 74.9 74.1 73.4 78.7 130.8 154.2
3.Gross profit 7.1 51.6 9.6 7.2 14.5 26.0
8.Tax provision 0.7 0.5 0.6 0.6 1.4 1.8
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -1.3 -5.6 0.1 0.6 6.3 14.1
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -72.7 5033.3 -96.1 16.7 271.4 107.7
83
Ishaq Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 345.9 379.8 414.4 355.0 373.0 355.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 8.8 9.2 86.8 6.9 91.1 13.7
(i)Cash 8.8 9.2 86.8 6.9 91.1 13.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 288.0 415.5 430.4 438.9 541.4 680.6
7.Net Current Assets(B4-B5) -51.6 -69.2 20.6 -122.2 -113.7 32.9
C.Fixed Assets:
4.Total assets (B4+C2) 1355.3 1588.6 1857.2 1832.1 2008.3 2130.8
D.Operation:
1.Gross sales 1459.0 1619.1 1313.5 1582.6 1732.5 2200.7
(i)Local sales 605.0 1619.1 692.6 935.5 1105.3 1243.5
(ii)Export sales 854.0 0.0 620.9 647.1 627.2 957.2
2.Cost of Sales 1316.3 1481.4 1155.7 1388.5 1569.3 1960.3
3.Gross profit 142.7 137.7 157.8 194.1 163.2 240.4
8.Tax provision 8.7 7.5 7.4 13.3 9.5 11.0
F.Cash Flow Data
84
Ishtiaq Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -7.4 -23.6 -15.2 99.8 97.7 89.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.6 8.2 2.7 0.8 0.7 0.7
(i)Cash 2.6 8.2 2.7 0.8 0.7 0.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 33.3 28.5 76.9 78.6 78.3 63.5
C.Fixed Assets:
4.Total assets (B4+C2) 305.9 286.9 312.1 488.5 488.5 467.3
D.Operation:
1.Gross sales 489.9 645.6 390.5 535.9 549.3 531.5
(i)Local sales 489.9 645.6 390.5 535.9 549.3 531.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 476.8 636.2 365.1 502.9 521.0 519.5
3.Gross profit 13.1 9.4 25.4 33.0 28.3 12.0
8.Tax provision 2.1 2.8 1.7 2.7 2.7 2.7
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 0.3 -1.3 18.4 21.0 13.6 5.7
2.Depreciation for the year plus changes in capital employed (C3+E1) -20.7 -3.0 8.2 109.2 -19.2 82.7
7.Cash flow ratio F1 as % of F2 - - 224.4 19.2 -70.8 6.9
15.Return on Equity (D7 as % of A3) -29.6 -61.4 38.1 6.3 -3.7 -8.9
85
Island Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 221.1 232.9 233.6 190.8 216.3 344.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.9 6.1 13.4 34.7 40.6 29.2
(i)Cash 3.9 4.1 10.5 16.1 23.1 11.0
(ii)Investments 2.0 2.0 2.9 18.6 17.5 18.2
3.Inventories 71.2 261.8 219.7 134.5 242.2 327.0
7.Net Current Assets(B4-B5) -15.2 20.2 -15.1 -30.9 -63.1 39.9
C.Fixed Assets:
4.Total assets (B4+C2) 566.8 848.4 818.1 709.5 867.8 1250.5
D.Operation:
1.Gross sales 657.9 943.9 798.7 980.1 1007.6 1025.0
(i)Local sales 633.2 846.1 615.7 710.3 676.0 544.6
(ii)Export sales 24.7 97.8 183.0 269.8 331.6 480.4
2.Cost of Sales 556.2 876.2 733.2 846.8 875.4 868.1
3.Gross profit 101.7 67.7 65.5 133.3 132.2 156.9
8.Tax provision 16.0 4.2 3.6 9.4 11.1 5.7
3.Finance from outside the company (E1-E2) 90.3 83.9 -56.7 -57.5 -54.9 391.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 26.2 12.3 - -44.1 -12.0 -11.0
7.Cash flow ratio F1 as % of F2 38.6 39.2 - -499.0 -151.8 -3.5
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 74.8 -64.9 -66.5 387.9 -35.3 -281.4
86
Itti Textiles Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -399.0 -399.0 -399.0 -399.0 -399.0 -399.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.0 0.0 0.0 0.0 0.0
(i)Cash 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 7.0 7.0 7.0 7.0 7.0 7.0
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1.6 1.6 1.6 1.6 1.6 1.6
3.Gross profit -1.6 -1.6 -1.6 -1.6 -1.6 -1.6
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
3.Finance from outside the company (E1-E2) -173.7 -181.8 -181.8 -181.8 -181.8 -181.8
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 2244.4 - - 0.0 0.0 0.0
7.Cash flow ratio F1 as % of F2 2244.4 - - 0.0 0.0 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -194.8 0.0 0.0 0.0 0.0 0.0
87
J.A. Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -85.8 -154.1 -131.1 -167.9 17.0 -13.6
3.Shareholder's Equity (A1+A2) 40.2 -28.1 -5.1 -41.9 143.0 112.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 55.3 -13.0 10.0 173.6 158.1 127.5
B.Liquidity:
1.Liquid Assets: 4.2 2.4 9.5 1.6 20.9 14.9
(i)Cash 4.2 2.4 9.4 1.4 20.9 14.9
(ii)Investments 0.0 0.0 0.1 0.2 0.0 0.0
3.Inventories 18.4 16.6 34.0 13.2 15.2 26.4
C.Fixed Assets:
4.Total assets (B4+C2) 246.5 241.7 269.9 256.8 470.5 426.6
D.Operation:
1.Gross sales 359.0 264.7 221.9 470.0 497.6 572.4
(i)Local sales 359.0 245.3 154.6 470.0 446.2 549.1
(ii)Export sales 0.0 19.4 67.3 0.0 51.4 23.3
2.Cost of Sales 339.7 298.7 209.1 437.0 471.6 590.5
3.Gross profit 19.3 -34.0 12.8 33.0 26.0 -18.1
5.Operating profit 8.4 -39.0 0.2 12.9 15.2 -30.7
7.Net profit before tax (D5-D6) 5.6 -41.8 -2.0 9.9 12.2 -33.8
8.Tax provision 1.4 1.2 1.4 3.8 2.5 2.8
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -42.4 -68.3 23.0 163.6 -15.5 -30.6
2.Retention in business (D7-D8-D9) 4.2 -43.0 -3.4 6.1 9.7 -36.6
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -26.3 -58.6 31.4 184.2 5.8 6.8
1.Gearing ratio (A7 as % of A8) 27.3 - 151.0 124.1 9.6 11.8
5.Return on assets (D7 as % of C4) 2.3 -17.3 -0.7 3.9 2.6 -7.9
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 31.9 -22.3 -4.0 -33.3 113.5 89.2
10.Financial expenses as % of operating profit (D6 as % of D5) 33.3 - 1100.0 23.3 19.7 -10.1
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 25.0 - - 38.4 20.5 -8.3
15.Return on Equity (D7 as % of A3) 13.9 - - 0.0 8.5 -30.1
3.Net profit margin (D7 as % of D1) 1.6 -15.8 -0.9 2.1 2.5 -5.9
4.Earning per share before tax (D7/No. of ordinary shares) 0.4 -3.3 -0.2 0.8 1.0 -2.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.3 -3.4 -0.3 0.5 0.8 -2.9
10.Break-up value of ordinary shares (in rupees) 3.2 -2.2 -0.4 -3.3 11.3 8.9
88
J.K. Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 225.8 276.5 268.9 202.6 413.8 371.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.9 27.6 40.8 7.6 9.8 20.8
(i)Cash 7.9 27.6 40.8 7.6 9.8 20.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 97.4 157.0 134.1 122.2 122.4 181.4
C.Fixed Assets:
4.Total assets (B4+C2) 614.5 712.5 860.7 1127.7 1397.0 1374.9
D.Operation:
1.Gross sales 511.4 660.1 415.9 614.8 637.1 747.6
(i)Local sales 202.8 388.2 98.3 614.8 366.8 615.4
(ii)Export sales 308.6 271.9 317.6 0.0 270.3 132.2
2.Cost of Sales 471.0 614.9 368.0 539.9 515.9 646.2
3.Gross profit 40.4 45.2 47.9 74.9 121.2 101.4
7.Net profit before tax (D5-D6) 6.0 7.1 -5.3 -41.1 14.3 -10.4
8.Tax provision 4.2 6.2 3.9 7.0 8.7 4.9
2.Retention in business (D7-D8-D9) 1.8 0.9 -9.2 -48.1 5.6 -22.3
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 1.0 1.0 -0.6 -3.6 1.0 -0.8
6.Self financing ratio (E2 as % of E1) 58.1 0.9 -15.1 -87.6 8.3 -43.4
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 70.0 87.3 - -17.0 60.8 -47.1
15.Return on Equity (D7 as % of A3) 2.0 2.0 -1.6 -15.1 3.0 -2.4
1.Dividend cover ratio [(D7 - D8) as % of D9] - - - 0.0 0.0 -218.6
3.Net profit margin (D7 as % of D1) 1.2 1.1 -1.3 -6.7 2.2 -1.4
4.Earning per share before tax (D7/No. of ordinary shares) 0.9 1.0 -0.8 -5.9 2.0 -1.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.3 0.1 -1.3 -6.9 0.8 -2.2
89
Janana De Malucho Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 274.7 555.6 655.3 517.1 858.0 869.4
5.Debentures 0.0 0.0 0.0 0.0 16.5 0.0
B.Liquidity:
1.Liquid Assets: 12.7 12.9 12.0 36.7 33.8 46.1
(i)Cash 3.0 3.2 2.3 9.8 4.8 5.1
(ii)Investments 9.7 9.7 9.7 26.9 29.0 41.0
3.Inventories 163.4 138.1 325.1 308.0 379.0 430.8
C.Fixed Assets:
4.Total assets (B4+C2) 625.0 1063.0 1606.7 1649.2 2061.9 2128.7
D.Operation:
1.Gross sales 578.0 728.3 523.8 970.4 1079.6 1130.6
(i)Local sales 578.0 728.3 523.8 970.4 1079.6 1130.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 508.6 661.0 488.9 901.7 934.3 979.0
3.Gross profit 69.4 67.3 34.9 68.7 145.3 151.6
7.Net profit before tax (D5-D6) 42.3 36.7 -9.5 -44.3 6.2 19.4
8.Tax provision 11.3 15.4 2.3 4.9 5.4 5.6
2.Retention in business (D7-D8-D9) 22.4 21.3 -11.8 -49.2 0.8 13.8
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 6.8 3.5 -0.6 -2.7 0.3 0.9
6.Self financing ratio (E2 as % of E1) 111.4 7.6 -2.6 37.1 0.2 12.2
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 26.7 42.0 - -11.1 87.1 28.9
15.Return on Equity (D7 as % of A3) 13.9 6.3 -1.4 -8.1 0.7 2.2
3.Net profit margin (D7 as % of D1) 7.3 5.0 -1.8 -4.6 0.6 1.7
4.Earning per share before tax (D7/No. of ordinary shares) 14.7 12.8 -3.3 -15.4 2.0 6.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 10.8 7.4 -4.1 -17.1 0.3 4.4
90
Jubilee Spinning & Weaving Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -122.9 -147.2 -154.8 174.0 -35.0 289.1
3.Shareholder's Equity (A1+A2) -52.7 -77.0 -84.6 244.2 35.2 359.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 145.4 92.9 107.7 95.6 5.4 6.0
(i)Cash 1.5 1.1 3.5 5.8 5.4 5.4
(ii)Investments 143.9 91.8 104.2 89.8 0.0 0.6
3.Inventories 13.1 32.2 30.3 40.9 22.3 30.7
C.Fixed Assets:
4.Total assets (B4+C2) 506.1 430.2 414.3 760.7 634.7 814.9
D.Operation:
1.Gross sales 437.9 540.4 436.5 581.3 651.2 751.9
(i)Local sales 437.9 540.4 436.5 581.3 651.2 751.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 444.6 523.9 413.0 556.3 658.8 741.3
3.Gross profit -6.7 16.5 23.5 25.0 -7.6 10.6
7.Net profit before tax (D5-D6) -31.6 34.4 5.1 -4.8 9.1 0.1
8.Tax provision 2.2 2.7 2.2 2.9 4.8 3.8
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 173.8 -29.6 -27.5 307.5 -61.7 189.6
2.Retention in business (D7-D8-D9) -33.8 31.7 2.9 -7.7 4.3 -3.7
3.Finance from outside the company (E1-E2) 207.6 -61.3 -30.4 315.2 -66.0 193.3
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -6.2 8.0 1.2 -0.6 1.4 0.0
6.Self financing ratio (E2 as % of E1) -19.4 - - -2.5 -7.0 -2.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -75.1 -109.7 -120.5 347.9 50.1 511.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 7.8 43.1 -60.4 52.7 3800.0
15.Return on Equity (D7 as % of A3) - - - -2.0 25.9 0.0
3.Net profit margin (D7 as % of D1) -7.2 6.4 1.2 -0.8 1.4 0.0
4.Earning per share before tax (D7/No. of ordinary shares) -4.5 4.9 0.7 -0.7 1.3 0.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -4.8 4.5 0.4 -1.1 0.6 -0.5
10.Break-up value of ordinary shares (in rupees) -7.5 -11.0 -12.1 34.8 5.0 51.2
91
Karim Cotton Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -16.0 -12.2 -12.2 -12.3 -12.4 -12.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.1 0.0 0.0 0.0 0.0 0.0
(i)Cash 0.1 0.0 0.0 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 0.2 0.1 0.1 0.1 0.1 0.1
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 0.0 3.8 0.0 -0.1 -0.1 -0.1
7.Cash flow ratio F1 as % of F2 - -2.6 - 100.0 100.0 100.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 0.0 0.0 -100.0 0.0 0.0 0.0
92
Khalid Siraj Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 179.1 140.0 166.2 49.0 15.6 138.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.8 2.6 3.6 4.0 2.8 2.5
(i)Cash 3.8 2.6 3.6 4.0 2.8 2.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 29.5 72.8 133.5 73.2 52.6 47.1
C.Fixed Assets:
4.Total assets (B4+C2) 451.2 486.3 520.4 507.1 491.1 682.1
D.Operation:
1.Gross sales 325.7 4.2 301.3 425.3 494.0 657.7
(i)Local sales 325.7 0.0 251.5 395.8 479.2 639.6
(ii)Export sales 0.0 4.2 49.8 29.5 14.8 18.1
2.Cost of Sales 325.7 469.2 285.9 424.9 500.6 691.9
3.Gross profit 0.0 -465.0 15.4 0.4 -6.6 -34.2
8.Tax provision 1.2 2.0 1.5 2.1 2.5 3.3
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - - -22.8 31.0 108.2 -38.3
7.Cash flow ratio F1 as % of F2 - -10997.6 3.9 23.7 110.9 -29.7
10.Financial expenses as % of operating profit (D6 as % of D5) - - 236.0 -168.5 -89.7 -33.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 17.5 -98.7 7073.8 41.2 16.2 33.1
93
Khurshid Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -97.6 -108.5 134.1 -12.6 -101.1 -169.1
5.Debentures 11.4 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.8 13.6 20.7 1.5 4.4 3.3
(i)Cash 2.8 13.6 20.7 1.5 4.4 3.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 46.6 79.1 72.0 80.7 69.6 99.2
C.Fixed Assets:
4.Total assets (B4+C2) 240.7 338.2 545.5 528.6 508.1 506.2
D.Operation:
1.Gross sales 363.4 369.5 373.9 408.4 405.4 378.6
(i)Local sales 363.4 369.5 373.9 408.4 405.4 378.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 349.2 352.8 335.6 405.8 454.8 397.9
3.Gross profit 14.2 16.7 38.3 2.6 -49.4 -19.3
8.Tax provision 1.8 1.8 2.8 2.0 2.0 1.9
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - 28.0 10.8 -5.1 77.1 -24.0
15.Return on Equity (D7 as % of A3) -26.4 -30.6 4.0 -33.1 -290.5 0.0
94
Khyber Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -2.8 -5.0 -9.4 -27.4 0.3 0.3
3.Shareholder's Equity (A1+A2) 9.5 7.3 2.9 -15.1 12.6 12.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 9.5 7.3 2.9 -15.1 12.6 21.6
B.Liquidity:
1.Liquid Assets: 4.9 7.2 2.1 3.7 4.2 0.2
(i)Cash 4.9 7.2 2.1 3.7 4.2 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 23.0 27.4 73.7 45.6 18.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 131.0 121.5 132.8 120.1 80.5 53.3
D.Operation:
1.Gross sales 432.3 455.6 258.9 406.0 461.6 14.7
(i)Local sales 432.3 455.6 258.9 406.0 461.6 14.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 427.5 442.7 257.1 398.2 466.4 22.1
3.Gross profit 4.8 12.9 1.8 7.8 -4.8 -7.4
5.Operating profit 1.3 5.6 -1.3 4.0 -2.1 -8.5
8.Tax provision 1.9 2.0 1.1 2.0 2.4 0.1
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -11.1 -2.2 -4.4 -18.0 27.7 9.0
3.Finance from outside the company (E1-E2) -7.8 -3.4 -0.2 -17.0 34.8 17.8
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - - - 5.6 -25.6 -97.8
7.Cash flow ratio F1 as % of F2 - 179.1 - -34.9 -7.7 -97.8
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 77.2 59.3 23.6 -122.8 102.4 102.4
10.Financial expenses as % of operating profit (D6 as % of D5) 207.7 42.9 - 75.0 -123.8 -2.4
15.Return on Equity (D7 as % of A3) -14.7 43.8 -106.9 0.0 -37.3 -69.0
10.Break-up value of ordinary shares (in rupees) 7.7 5.9 2.4 -12.3 10.2 10.2
95
Kohat Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 38.6 133.9 199.7 120.0 113.2 158.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.3 2.1 2.8 0.4 0.1 0.1
(i)Cash 2.3 2.1 2.8 0.4 0.1 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 120.0 311.7 356.2 329.4 338.7 188.6
C.Fixed Assets:
4.Total assets (B4+C2) 551.5 982.1 1114.4 1167.8 1204.2 1301.5
D.Operation:
1.Gross sales 490.9 723.5 869.6 1180.3 1317.0 1438.7
(i)Local sales 487.9 718.1 869.6 1173.8 1299.7 1437.5
(ii)Export sales 3.0 5.4 0.0 6.5 17.3 1.2
2.Cost of Sales 457.8 678.1 843.5 1054.8 1215.1 1370.9
3.Gross profit 33.1 45.4 26.1 125.5 101.9 67.8
8.Tax provision 2.4 0.0 0.0 5.9 6.6 7.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -13.5 -5.9 -38.1 19.3 -129.2 -258.9
96
Kohinoor Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1006.9 908.8 831.0 623.8 594.9 196.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 105.9 55.7 84.4 52.4 198.7 76.4
(i)Cash 81.6 14.5 66.7 41.5 93.3 24.8
(ii)Investments 24.3 41.2 17.7 10.9 105.4 51.6
3.Inventories 155.3 219.1 365.4 240.0 215.8 14.6
C.Fixed Assets:
4.Total assets (B4+C2) 3875.2 4003.8 4278.0 1981.6 2031.8 1392.0
D.Operation:
1.Gross sales 1753.9 815.2 765.8 1005.2 1012.3 241.5
(i)Local sales 1071.8 804.4 765.8 1005.2 1012.3 241.5
(ii)Export sales 682.1 10.8 0.0 0.0 0.0 0.0
2.Cost of Sales 1667.4 797.0 729.0 894.3 949.5 234.9
3.Gross profit 86.5 18.2 36.8 110.9 62.8 6.6
8.Tax provision 9.1 4.4 4.6 5.0 5.4 1.9
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - - - -41.1 -146.4 38.5
7.Cash flow ratio F1 as % of F2 - - - -89.1 -46.4 34.0
97
Kohinoor Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1070.6 1542.4 1363.3 1369.1 1369.1 1369.1
5.Debentures 320.0 0.0 200.0 120.0 120.0 120.0
B.Liquidity:
1.Liquid Assets: 161.1 212.1 350.5 456.8 456.8 456.8
(i)Cash 114.7 135.6 139.3 181.2 181.2 181.2
(ii)Investments 46.4 76.5 211.2 275.6 275.6 275.6
3.Inventories 537.4 821.9 1156.0 1614.5 1614.5 1614.5
C.Fixed Assets:
4.Total assets (B4+C2) 3996.7 5867.3 6929.9 7818.4 7818.4 7818.4
D.Operation:
1.Gross sales 4002.8 4820.3 3840.8 6450.1 6450.1 6450.1
(i)Local sales 457.1 690.1 1061.0 1346.1 1346.1 1346.1
(ii)Export sales 3545.7 4130.2 2779.8 5104.0 5104.0 5104.0
2.Cost of Sales 3556.0 4316.5 3636.7 5728.2 5728.2 5728.2
3.Gross profit 446.8 503.8 204.1 721.9 721.9 721.9
7.Net profit before tax (D5-D6) 203.1 154.7 -182.1 6.0 6.0 6.0
8.Tax provision 42.0 53.9 27.8 59.2 59.2 59.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 215.5 313.3 -76.5 214.9 214.9 214.9
5.Return on assets (D7 as % of C4) 5.1 2.6 -2.6 0.1 0.1 0.1
7.Cash flow ratio F1 as % of F2 40.5 28.3 -8.9 -71.5 80.2 80.2
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 20.7 34.8 - 986.7 986.7 986.7
15.Return on Equity (D7 as % of A3) 15.5 8.4 -10.8 0.4 0.4 0.4
1.Dividend cover ratio [(D7 - D8) as % of D9] 446.3 - -697.3 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) 5.1 3.2 -4.7 0.1 0.1 0.1
4.Earning per share before tax (D7/No. of ordinary shares) 8.4 5.1 -5.5 0.2 0.2 0.2
98
Kohinoor Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -855.1 -896.7 -871.1 -886.3 -868.3 -856.8
5.Debentures 172.3 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -262.6 -204.8 -319.0 685.6 735.5 915.8
B.Liquidity:
1.Liquid Assets: 243.4 238.6 224.2 170.7 144.9 9.9
(i)Cash 200.7 199.9 197.5 170.2 144.4 8.5
(ii)Investments 42.7 38.7 26.7 0.5 0.5 1.4
3.Inventories 138.3 587.7 528.8 542.5 442.7 703.9
C.Fixed Assets:
4.Total assets (B4+C2) 1300.7 1735.7 1689.5 1949.0 1863.0 2287.6
D.Operation:
1.Gross sales 1848.2 2115.4 1517.8 2152.2 2418.4 2511.6
(i)Local sales 619.5 994.7 494.2 688.8 1215.0 1598.8
(ii)Export sales 1228.7 1120.7 1023.6 1463.4 1203.4 912.8
2.Cost of Sales 1785.9 2022.4 1356.1 1912.0 2149.7 2242.8
3.Gross profit 62.3 93.0 161.7 240.2 268.7 268.8
8.Tax provision 16.5 14.1 21.7 21.8 18.1 12.7
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -386.4 57.8 -114.2 1004.6 49.9 180.3
3.Finance from outside the company (E1-E2) -256.5 99.2 -155.2 1087.3 31.1 169.7
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -62.7 30.1 95.1 -12.2 79.8 69.9
2.Depreciation for the year plus changes in capital employed (C3+E1) -319.2 129.3 -60.1 1075.1 110.9 239.6
6.Self financing ratio (E2 as % of E1) - -71.6 - -8.2 37.7 5.9
7.Cash flow ratio F1 as % of F2 - 23.3 - -1.1 72.0 29.2
99
Kohinoor Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 927.4 1315.0 6529.9 3649.0 5838.6 3530.4
5.Debentures 267.2 195.9 184.2 71.3 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1202.9 1226.2 878.3 4265.5 6001.2 3832.1
(i)Cash 132.4 155.7 518.1 436.8 63.4 75.4
(ii)Investments 1070.5 1070.5 360.2 3828.7 5937.8 3756.7
3.Inventories 931.2 859.3 2860.6 1607.8 1755.1 1673.1
9.Net liquid assets (B1-B5) -1673.5 -1572.4 -3822.0 356.1 1491.9 -1652.9
C.Fixed Assets:
4.Total assets (B4+C2) 5567.7 5968.5 16263.9 11340.0 14484.0 13515.3
D.Operation:
1.Gross sales 5180.1 5537.8 9060.4 6903.6 7140.2 7558.3
(i)Local sales 1886.6 2174.7 6357.6 3209.1 2911.8 3694.1
(ii)Export sales 3293.5 3363.1 2702.8 3694.5 4228.4 3864.2
2.Cost of Sales 4498.0 4822.2 7173.3 5881.8 6094.6 6395.6
3.Gross profit 682.1 715.6 1887.1 1021.8 1045.6 1162.7
7.Net profit before tax (D5-D6) 167.0 444.8 1223.7 354.9 -28.3 130.9
8.Tax provision 32.2 50.4 -8.8 33.5 41.7 38.4
2.Retention in business (D7-D8-D9) 54.6 394.4 1232.5 321.4 -70.0 92.5
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 3.0 7.5 7.5 3.1 -0.2 1.0
6.Self financing ratio (E2 as % of E1) 18.9 82.4 14.7 -7.8 -2.8 -4.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 19.3 11.3 -0.7 9.4 -147.3 29.3
15.Return on Equity (D7 as % of A3) 9.7 21.0 16.3 7.5 -0.4 2.6
3.Net profit margin (D7 as % of D1) 3.2 8.0 13.5 5.1 -0.4 1.7
4.Earning per share before tax (D7/No. of ordinary shares) 2.1 5.5 12.7 3.4 -0.2 0.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -39.9 6.9 63.6 -23.8 3.4 5.9
100
Landmark Spinning Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -221.8 -222.5 -150.8 -166.5 -167.3 -80.5
3.Shareholder's Equity (A1+A2) -100.6 -101.3 -29.6 -45.3 -46.1 40.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -47.6 -73.3 -26.6 -45.3 -46.1 40.7
B.Liquidity:
1.Liquid Assets: 0.1 0.1 0.1 0.1 0.1 0.1
(i)Cash 0.1 0.1 0.1 0.1 0.1 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 153.9 153.8 225.9 153.8 153.5 241.2
D.Operation:
1.Gross sales 14.4 0.0 0.0 0.0 0.0 0.0
(i)Local sales 14.4 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 35.3 0.0 0.0 0.0 0.0 0.0
3.Gross profit -20.9 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.1 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - - -93.4 84.0 100.0 -1.0
7.Cash flow ratio F1 as % of F2 - - -93.4 84.0 100.0 -1.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -83.0 -83.6 -24.4 -37.4 -38.0 33.6
10.Break-up value of ordinary shares (in rupees) -8.3 -8.4 -2.4 -3.7 -3.8 3.4
101
Libbas Textile Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -41.2 -45.0 -55.7 -41.6 -41.6 -41.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.1 0.0 0.0 0.0 0.0 0.0
(i)Cash 0.1 0.0 0.0 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.2 0.9 1.6 0.8 0.8 0.8
C.Fixed Assets:
4.Total assets (B4+C2) 99.7 95.8 92.9 92.3 92.3 92.3
D.Operation:
1.Gross sales 24.2 4.7 29.3 46.5 46.5 46.5
(i)Local sales 21.4 4.7 29.3 46.5 46.5 46.5
(ii)Export sales 2.8 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 34.1 5.2 40.3 46.0 46.0 46.0
3.Gross profit -9.9 -0.5 -11.0 0.5 0.5 0.5
7.Net profit before tax (D5-D6) -12.0 -1.7 -10.5 30.6 30.6 30.6
8.Tax provision 0.2 0.0 0.1 0.2 0.2 0.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 62.8 -37.8 -16.7 -4.0 0.0 0.0
3.Finance from outside the company (E1-E2) 75.0 -36.1 -6.1 -34.4 -30.4 -30.4
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 72.1 -37.7 -8.2 3.6 7.6 7.6
5.Return on assets (D7 as % of C4) -12.0 -1.8 -11.3 33.2 33.2 33.2
6.Self financing ratio (E2 as % of E1) -19.4 - - -760.0 0.0 0.0
7.Cash flow ratio F1 as % of F2 -4.0 - - 1055.6 500.0 500.0
3.Net profit margin (D7 as % of D1) -49.6 -36.2 -35.8 65.8 65.8 65.8
4.Earning per share before tax (D7/No. of ordinary shares) -3.0 -0.4 -2.6 7.7 7.7 7.7
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 15.4 -86.7 550.0 -396.2 0.0 0.0
102
Mahmood Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1055.0 1110.4 1407.2 1452.0 1602.1 1581.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 319.6 162.9 294.4 280.9 270.0 280.7
(i)Cash 172.8 16.1 9.8 7.6 8.8 7.6
(ii)Investments 146.8 146.8 284.6 273.3 261.2 273.1
3.Inventories 220.7 389.0 982.1 939.9 1130.1 1647.0
9.Net liquid assets (B1-B5) 71.4 -144.2 -603.0 -807.9 -1137.3 -1643.8
C.Fixed Assets:
4.Total assets (B4+C2) 1471.0 1557.2 2770.8 3191.3 3710.7 4354.3
D.Operation:
1.Gross sales 3971.7 3971.8 2917.2 3901.3 4518.5 5073.2
(i)Local sales 931.5 1197.6 398.9 1623.1 1674.2 2432.9
(ii)Export sales 3040.2 2774.2 2518.3 2278.2 2844.3 2640.3
2.Cost of Sales 3703.1 3703.3 2530.3 3497.2 4038.0 4478.3
3.Gross profit 268.6 268.5 386.9 404.1 480.5 594.9
8.Tax provision 2.3 44.0 35.8 34.5 40.0 0.0
F.Cash Flow Data
103
Maqbool Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 76.5 88.6 115.9 97.2 36.7 10.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.8 2.8 4.2 1.5 3.3 3.6
(i)Cash 3.8 1.9 3.3 0.6 2.4 2.7
(ii)Investments 0.0 0.9 0.9 0.9 0.9 0.9
3.Inventories 46.3 130.8 127.3 211.3 226.1 223.7
C.Fixed Assets:
4.Total assets (B4+C2) 280.8 459.5 854.8 962.5 1013.4 1171.2
D.Operation:
1.Gross sales 883.5 1284.0 815.7 1432.7 1634.5 1797.3
(i)Local sales 748.0 987.4 484.2 1194.6 1368.9 1337.1
(ii)Export sales 135.5 296.6 331.5 238.1 265.6 460.2
2.Cost of Sales 831.0 1218.4 733.3 1304.6 1566.1 1672.6
3.Gross profit 52.5 65.6 82.4 128.1 68.4 124.7
8.Tax provision 7.8 14.8 6.3 7.1 8.2 8.8
F.Cash Flow Data
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 43.8 52.1 15.6 23.4 -19.7 200.0
104
Masood Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 352.4 599.6 733.6 764.1 1019.0 1290.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9.6 38.8 651.0 59.2 75.6 137.3
(i)Cash 9.6 38.8 651.0 59.2 75.6 137.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 899.5 1294.0 1784.1 1891.3 1814.0 1838.7
7.Net Current Assets(B4-B5) -37.2 94.2 441.8 133.1 -291.4 1262.1
C.Fixed Assets:
4.Total assets (B4+C2) 3505.9 4336.7 5859.2 6519.3 7326.2 8234.5
D.Operation:
1.Gross sales 3049.6 3425.6 3245.4 5006.5 5936.7 7884.8
(i)Local sales 99.8 213.1 158.9 224.2 247.1 573.7
(ii)Export sales 2949.8 3212.5 3086.5 4782.3 5689.6 7311.1
2.Cost of Sales 2457.2 2799.3 2673.3 4116.5 4949.5 6428.8
3.Gross profit 592.4 626.3 572.1 890.0 987.2 1456.0
8.Tax provision 23.8 28.9 23.9 52.3 61.1 74.3
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 9.4 -36.2 16.2 34.9 236.8 112.5
105
Mehr Dastagir Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -117.1 -115.6 -1.6 -2.0 -3.0 110.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.3 2.3 1.8 1.8 1.8 1.9
(i)Cash 3.0 2.0 1.5 1.5 1.5 1.5
(ii)Investments 0.3 0.3 0.3 0.3 0.3 0.4
3.Inventories 5.7 61.2 22.9 7.0 3.4 13.4
C.Fixed Assets:
4.Total assets (B4+C2) 332.7 408.5 628.8 418.4 380.9 336.0
D.Operation:
1.Gross sales 120.6 143.8 322.7 247.9 239.2 230.3
(i)Local sales 120.6 132.2 322.7 247.9 239.2 230.3
(ii)Export sales 0.0 11.6 0.0 0.0 0.0 0.0
2.Cost of Sales 146.5 171.2 307.7 235.6 225.3 262.3
3.Gross profit -25.9 -27.4 15.0 12.3 13.9 -32.0
8.Tax provision 0.0 0.0 0.6 1.3 -0.1 1.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 84.0 3.6 4.8 -6.8 -89.2
15.Return on Equity (D7 as % of A3) - - 5.6 0.9 0.3 -21.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.9 0.7 0.5 -0.1 0.0 -4.8
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 33.7 19.2 124.4 -23.2 -3.5 -3.7
106
Mian Textile Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 0.9 146.4 114.1 63.9 -149.0 -85.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.7 10.1 1.8 1.9 5.6 1.7
(i)Cash 2.7 10.1 1.8 1.9 5.6 1.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 170.2 302.2 276.7 298.5 251.3 114.5
C.Fixed Assets:
4.Total assets (B4+C2) 718.2 1104.7 1147.3 1108.9 989.2 969.3
D.Operation:
1.Gross sales 823.7 970.8 749.5 927.5 748.0 540.6
(i)Local sales 439.2 611.1 444.5 602.0 531.8 468.8
(ii)Export sales 384.5 359.7 305.0 325.5 216.2 71.8
2.Cost of Sales 752.7 913.8 703.8 901.3 746.2 610.8
3.Gross profit 71.0 57.0 45.7 26.2 1.8 -70.2
8.Tax provision 0.0 5.1 3.5 4.8 3.7 2.7
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - -8.7 - -980.9 76.9 -70.3
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - 75.0 100.0 185.7 65.0 3.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -0.6 17.9 -22.8 23.7 -19.4 -27.7
107
Mohammad Farooq Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 103.7 501.1 811.8 775.5 675.5 596.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.1 0.9 0.7 8.4 0.9 6.2
(i)Cash 5.1 0.9 0.7 8.4 0.9 6.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 372.0 484.9 603.9 664.7 640.5 692.6
C.Fixed Assets:
4.Total assets (B4+C2) 1173.4 1696.8 2168.0 2367.1 2335.2 2333.3
D.Operation:
1.Gross sales 1070.3 992.9 722.4 1018.1 1410.3 1229.4
(i)Local sales 104.5 948.6 99.0 235.7 121.4 94.0
(ii)Export sales 965.8 44.3 623.4 782.4 1288.9 1135.4
2.Cost of Sales 0.9 821.3 599.4 837.7 1242.7 1119.7
3.Gross profit 1069.4 171.6 123.0 180.4 167.6 109.7
8.Tax provision 7.1 6.9 4.7 8.1 12.6 12.3
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 2.3 -1.0 36.9 62.4 90.8
7.Cash flow ratio F1 as % of F2 - 11.1 8.0 -28.2 32.2 82.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -0.7 -7.2 -27.2 40.9 38.5 -12.8
108
Mubarak Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -206.0 -12.9 -43.6 -46.1 -48.2 -62.2
3.Shareholder's Equity (A1+A2) -179.0 14.1 -16.6 -19.1 5.8 -8.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 120.1 31.4 -9.7 -19.1 7.1 -8.2
B.Liquidity:
1.Liquid Assets: 2.5 0.9 0.2 0.7 2.5 0.3
(i)Cash 2.5 0.9 0.2 0.7 2.5 0.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 40.8 10.2 4.9 4.2 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 168.9 132.2 103.6 105.2 112.5 99.9
D.Operation:
1.Gross sales 87.4 80.2 47.1 76.1 92.1 83.5
(i)Local sales 87.4 74.9 47.1 76.1 92.1 83.5
(ii)Export sales 0.0 5.3 0.0 0.0 0.0 0.0
2.Cost of Sales 79.2 92.9 54.8 68.7 79.8 85.6
3.Gross profit 8.2 -12.7 -7.7 7.4 12.3 -2.1
5.Operating profit 1.6 -42.4 -30.2 0.5 199.4 -8.9
7.Net profit before tax (D5-D6) 1.5 -43.0 -31.8 -3.0 195.4 -12.9
8.Tax provision 0.4 0.4 0.2 0.4 0.5 0.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 297.4 -88.7 -41.1 -9.4 26.2 -15.3
2.Retention in business (D7-D8-D9) 0.4 -43.4 -32.0 -3.4 194.9 -13.3
3.Finance from outside the company (E1-E2) 297.0 -45.3 -9.1 -6.0 -168.7 -2.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 6.4 -38.4 -28.0 1.6 199.6 -8.7
2.Depreciation for the year plus changes in capital employed (C3+E1) 303.4 -83.7 -37.1 -4.4 30.9 -10.7
4.Debt equity ratio (B6 as % of A3) - 837.6 - 0.0 1839.7 0.0
5.Return on assets (D7 as % of C4) 0.9 -32.5 -30.7 -2.9 173.7 -12.9
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -663.0 52.2 -61.5 -70.7 10.7 -15.2
10.Financial expenses as % of operating profit (D6 as % of D5) 6.3 - - 700.0 2.0 -44.9
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 26.7 - - -13.3 0.3 -3.1
15.Return on Equity (D7 as % of A3) - -305.0 - 0.0 3369.0 0.0
2.Dividend ratio to equity (D9 as % of A3) - 0.0 - 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) 1.7 -53.6 -67.5 -3.9 212.2 -15.4
4.Earning per share before tax (D7/No. of ordinary shares) 0.6 -15.9 -11.8 -1.1 36.2 -2.4
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.4 -16.1 -11.9 -1.3 36.1 -2.5
10.Break-up value of ordinary shares (in rupees) -66.3 5.2 -6.1 -7.1 1.1 -1.5
109
Mukhtar Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -44.7 -32.8 -53.4 -43.6 -42.6 -58.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.9 4.7 0.2 0.2 0.1 0.0
(i)Cash 1.9 4.7 0.2 0.2 0.1 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 4.3 12.3 26.6 10.0 12.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 118.7 161.1 136.4 151.2 143.7 113.6
D.Operation:
1.Gross sales 247.2 277.6 164.9 300.2 211.1 114.5
(i)Local sales 247.2 277.6 164.9 300.2 211.1 114.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 236.8 268.1 183.0 289.6 204.0 18.5
3.Gross profit 10.4 9.5 -18.1 10.6 7.1 96.0
5.Operating profit 4.2 -146.5 -21.2 5.5 2.7 94.3
7.Net profit before tax (D5-D6) 4.0 -198.5 -21.3 5.5 2.7 93.7
8.Tax provision 1.6 1.4 0.8 1.5 1.1 0.1
2.Retention in business (D7-D8-D9) 2.4 -199.9 -22.1 4.0 1.6 93.6
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 10.7 -192.2 -15.7 13.1 9.8 100.9
2.Depreciation for the year plus changes in capital employed (C3+E1) 31.8 55.4 -14.9 15.9 7.6 -8.8
5.Return on assets (D7 as % of C4) 3.4 -123.2 -15.6 3.6 1.9 82.5
6.Self financing ratio (E2 as % of E1) 10.2 -419.1 - 58.8 -266.7 -581.4
7.Cash flow ratio F1 as % of F2 33.6 -346.9 - 82.4 128.9 -1146.6
10.Financial expenses as % of operating profit (D6 as % of D5) 4.8 - - 0.0 0.0 0.6
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 40.0 - - 27.3 40.7 0.1
15.Return on Equity (D7 as % of A3) 7.2 -176.9 -23.3 5.4 2.6 107.7
3.Net profit margin (D7 as % of D1) 1.6 -71.5 -12.9 1.8 1.3 81.8
4.Earning per share before tax (D7/No. of ordinary shares) 0.4 -13.7 -1.5 0.4 0.2 6.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.2 -13.8 -1.5 0.3 0.1 6.5
110
N.P. Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 103.1 212.5 87.1 140.0 130.3 152.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 120.0 180.3 178.2 44.8 35.4 6.6
(i)Cash 120.0 180.3 178.2 44.8 35.4 6.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 511.2 254.7 119.0 276.0 182.4 353.0
7.Net Current Assets(B4-B5) 54.1 89.2 -31.6 34.3 36.1 72.1
C.Fixed Assets:
4.Total assets (B4+C2) 969.3 823.2 709.9 644.7 523.7 646.6
D.Operation:
1.Gross sales 846.3 1130.2 716.2 894.6 967.3 1141.7
(i)Local sales 823.6 812.3 373.2 740.1 964.6 1141.7
(ii)Export sales 22.7 317.9 343.0 154.5 2.7 0.0
2.Cost of Sales 752.7 938.8 532.4 757.9 843.8 1024.0
3.Gross profit 93.6 191.4 183.8 136.7 123.5 117.7
8.Tax provision 21.4 32.6 31.2 25.7 26.5 22.7
2.Retention in business (D7-D8-D9) 26.8 46.0 -122.3 55.8 40.5 -2.2
3.Finance from outside the company (E1-E2) -61.0 31.9 -26.4 -5.5 -50.2 31.8
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 59.1 - 110.9 -417.5 -7.4
7.Cash flow ratio F1 as % of F2 - 70.9 - 107.1 404.2 41.4
111
Nadeem Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 198.3 211.3 219.6 215.4 165.6 141.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.8 2.5 4.8 2.9 1.4 0.9
(i)Cash 5.8 2.5 4.8 1.5 1.4 0.9
(ii)Investments 0.0 0.0 0.0 1.4 0.0 0.0
3.Inventories 77.0 312.9 332.5 229.1 137.1 376.3
C.Fixed Assets:
4.Total assets (B4+C2) 482.6 876.3 935.6 959.1 883.1 1086.4
D.Operation:
1.Gross sales 581.6 715.6 755.3 1284.5 1633.1 1479.6
(i)Local sales 363.5 711.2 504.4 681.5 1022.9 948.8
(ii)Export sales 218.1 4.4 250.9 603.0 610.2 530.8
2.Cost of Sales 513.0 156.3 696.7 1182.6 1519.2 1383.6
3.Gross profit 68.6 559.3 58.6 101.9 113.9 96.0
8.Tax provision 5.6 709.5 3.5 9.7 9.2 7.5
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 48.7 -239.6 -10.6 -9.4 6.4 81.9
112
Nagina Cotton Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 215.5 215.5 612.6 639.3 253.0 217.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 282.9 282.9 145.9 209.6 161.1 161.9
(i)Cash 167.0 167.0 119.3 184.9 8.4 2.0
(ii)Investments 115.9 115.9 26.6 24.7 152.7 159.9
3.Inventories 114.3 114.3 581.1 567.3 185.1 282.3
C.Fixed Assets:
4.Total assets (B4+C2) 1129.5 1129.5 2502.7 2655.4 1210.5 1188.0
D.Operation:
1.Gross sales 1382.8 1382.8 2230.5 2813.2 1540.5 1805.9
(i)Local sales 1082.8 1082.8 1714.3 2130.9 1051.0 1290.1
(ii)Export sales 300.0 300.0 516.2 682.3 489.5 515.8
2.Cost of Sales 1227.8 1227.8 1928.5 2465.5 1377.1 1664.5
3.Gross profit 155.0 155.0 302.0 347.7 163.4 141.4
8.Tax provision 19.0 19.0 25.0 16.2 7.7 9.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -34.7 -34.7 185.3 174.6 111.3 63.3
2.Depreciation for the year plus changes in capital employed (C3+E1) -142.6 0.0 927.1 200.9 -801.5 -34.8
6.Self financing ratio (E2 as % of E1) - - 11.0 48.7 -5.4 -3.9
7.Cash flow ratio F1 as % of F2 - - 20.0 86.9 -13.9 -181.9
113
Nakshbandi Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 228.8 270.0 242.6 516.2 -301.3 -100.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 11.1 7.0 12.2 4.7 6.2 213.7
(i)Cash 11.1 7.0 12.2 4.7 6.2 213.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 587.0 695.3 745.1 695.0 259.2 283.3
C.Fixed Assets:
4.Total assets (B4+C2) 2129.1 2379.9 2424.6 2766.6 2189.3 2188.6
D.Operation:
1.Gross sales 1202.2 1244.7 1369.4 1995.0 1615.3 1278.7
(i)Local sales 195.1 1037.2 164.0 147.2 249.3 149.9
(ii)Export sales 1007.1 207.5 1205.4 1847.8 1366.0 1128.8
2.Cost of Sales 1056.4 1837.9 1194.9 1779.2 1817.1 1166.2
3.Gross profit 145.8 -593.2 174.5 215.8 -201.8 112.5
5.Operating profit 40.8 -609.0 65.3 69.3 -336.8 -34.3
8.Tax provision 11.0 1802.9 11.5 21.0 16.0 12.8
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 56.2 -2510.0 85.8 38.6 -353.9 4.8
7.Cash flow ratio F1 as % of F2 141.9 -867.9 - 11.3 83.0 1.6
10.Financial expenses as % of operating profit (D6 as % of D5) 221.8 - 99.7 208.2 -43.1 -171.1
1.Dividend cover ratio [(D7 - D8) as % of D9] -20233.3 -4822.5 -3766.7 0.0 0.0 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -345.5 1081.5 -100.0 0.0 545.5 -81.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 5.3 3.5 10.0 45.7 -19.0 -20.8
114
Nazir Cotton Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -255.1 -266.5 -310.7 -223.6 -319.8 -326.3
3.Shareholder's Equity (A1+A2) -75.1 -86.5 -80.7 6.4 -89.8 -96.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 27.0 -32.6 26.0 80.9 -19.6 -35.8
B.Liquidity:
1.Liquid Assets: 3.7 12.8 3.6 1.2 1.2 0.8
(i)Cash 2.4 12.8 1.9 0.6 0.3 0.2
(ii)Investments 1.3 0.0 1.7 0.6 0.9 0.6
3.Inventories 6.7 9.1 12.1 15.1 1.3 1.1
C.Fixed Assets:
4.Total assets (B4+C2) 151.0 154.5 144.3 146.0 133.1 129.4
D.Operation:
1.Gross sales 255.5 204.9 179.6 195.7 57.3 0.2
(i)Local sales 255.5 204.9 179.6 195.7 57.3 0.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 281.8 218.7 191.0 207.3 74.0 0.2
3.Gross profit -26.3 -13.8 -11.4 -11.6 -16.7 0.0
8.Tax provision 1.1 0.9 0.8 1.0 -15.8 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 32.7 -59.6 58.6 54.9 -100.5 -16.2
3.Finance from outside the company (E1-E2) 84.6 -30.5 45.4 43.8 -97.1 -10.1
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -39.9 -23.1 17.7 15.5 0.6 -2.5
2.Depreciation for the year plus changes in capital employed (C3+E1) 44.7 -53.6 63.1 59.3 -96.5 -12.6
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -41.7 -48.1 -35.1 2.8 -39.0 -41.9
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 64.7 -42.9 -137.5 -16.7 -260.0 -62.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -38.9 -19.8 -12.3 9.0 -70.7 -99.7
10.Break-up value of ordinary shares (in rupees) -4.2 -4.8 -3.5 0.3 -3.9 -4.2
115
Nina Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 297.8 544.3 453.9 646.8 1084.7 1084.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 19.6 17.5 60.3 7.2 2.1 2.1
(i)Cash 19.6 17.5 60.3 7.2 2.1 2.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 806.7 799.4 1267.5 1666.9 1355.2 1355.2
7.Net Current Assets(B4-B5) -164.2 18.5 -99.3 39.8 738.4 738.4
C.Fixed Assets:
4.Total assets (B4+C2) 2906.9 3196.6 3217.1 3562.7 4516.8 4516.8
D.Operation:
1.Gross sales 1719.0 1216.2 1125.0 1546.6 1880.7 1880.7
(i)Local sales 54.5 170.7 210.8 186.4 108.4 108.4
(ii)Export sales 1664.5 1045.5 914.2 1360.2 1772.3 1772.3
2.Cost of Sales 1531.4 1026.9 903.5 1224.1 1507.1 1507.1
3.Gross profit 187.6 189.3 221.5 322.5 373.6 373.6
7.Net profit before tax (D5-D6) 12.0 -53.4 -45.3 -1.0 37.0 37.0
8.Tax provision 12.3 9.2 8.4 15.5 17.7 17.7
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 357.9 434.5 -226.4 42.3 1125.7 0.0
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 0.4 -1.7 -1.4 0.0 0.8 0.8
6.Self financing ratio (E2 as % of E1) -0.1 -14.4 - -39.0 1.7 0.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 102.5 - - -1550.0 47.8 47.8
15.Return on Equity (D7 as % of A3) 2.2 -6.8 -6.5 -0.1 2.8 2.8
3.Net profit margin (D7 as % of D1) 0.7 -4.4 -4.0 -0.1 2.0 2.0
4.Earning per share before tax (D7/No. of ordinary shares) 0.5 -2.2 -1.9 0.0 1.5 1.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.0 -2.6 -2.2 -0.7 0.8 0.8
116
Nishat (Chunian) Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 929.8 1443.6 1992.5 2036.8 1934.2 1848.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 30.3 20.4 43.6 10.9 60.7 229.9
(i)Cash 30.3 20.4 37.4 10.9 60.7 18.2
(ii)Investments 0.0 0.0 6.2 0.0 0.0 211.7
3.Inventories 532.5 688.7 1330.4 1572.8 1799.9 2447.5
C.Fixed Assets:
4.Total assets (B4+C2) 3062.6 4358.6 8247.7 9465.1 9755.3 10838.1
D.Operation:
1.Gross sales 4291.2 6688.7 5497.4 6550.8 7659.3 9138.3
(i)Local sales 601.8 746.4 558.4 1028.1 1400.9 3250.7
(ii)Export sales 3689.4 5942.3 4939.0 5522.7 6258.4 5887.6
2.Cost of Sales 3548.9 5719.8 4272.2 5382.3 6702.1 8097.4
3.Gross profit 742.3 968.9 1225.2 1168.5 957.2 1040.9
8.Tax provision 47.1 71.0 62.0 90.0 101.0 58.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 53.2 26.2 18.5 0.2 -0.8
117
Nishat Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 4810.5 6627.5 10466.9 19659.8 28359.6 23549.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3774.1 4532.3 6808.0 15193.5 15536.1 13394.9
(i)Cash 1044.9 615.4 521.0 50.3 69.6 73.8
(ii)Investments 2729.2 3916.9 6287.0 15143.2 15466.5 13321.1
3.Inventories 1905.3 1517.1 3322.2 3003.2 3106.4 4103.6
9.Net liquid assets (B1-B5) -2809.0 -3164.5 554.7 8141.9 7886.7 1673.3
C.Fixed Assets:
4.Total assets (B4+C2) 15372.0 18171.9 21031.0 31179.5 39380.6 37916.6
D.Operation:
1.Gross sales 13484.4 15617.3 11572.1 16661.4 17153.2 19267.6
(i)Local sales 2234.7 3273.4 2093.5 2721.6 2766.1 4404.1
(ii)Export sales 11249.7 12343.9 9478.6 13939.8 14387.1 14863.5
2.Cost of Sales 11595.4 13683.3 9437.3 13945.7 14308.3 16298.9
3.Gross profit 1889.0 1934.0 2134.8 2715.7 2844.9 2968.7
8.Tax provision 133.5 154.4 166.0 201.2 220.8 258.0
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 50.0 64.4 55.4 5.2 -5.8 250.9
118
Olympia Spinning & Weaving Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 342.4 310.3 464.5 582.5 653.4 812.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 16.7 19.1 17.0 6.1 6.9 46.9
(i)Cash 16.7 19.1 17.0 6.1 6.9 2.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 44.7
3.Inventories 141.2 604.6 528.9 466.3 484.7 408.8
C.Fixed Assets:
4.Total assets (B4+C2) 1103.4 1785.9 2113.3 2220.7 2254.8 2451.7
D.Operation:
1.Gross sales 1061.8 1257.8 1258.6 1907.0 2258.9 2773.0
(i)Local sales 1048.1 943.9 678.1 521.0 638.6 1365.2
(ii)Export sales 13.7 313.9 580.5 1386.0 1620.3 1407.8
2.Cost of Sales 966.3 1201.1 1132.5 1701.0 2046.1 2552.7
3.Gross profit 95.5 56.7 126.1 206.0 212.8 220.3
7.Net profit before tax (D5-D6) 9.8 -25.6 13.6 19.8 -21.7 -0.3
8.Tax provision 5.3 6.2 9.0 20.7 24.0 14.3
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 0.9 -1.4 0.6 0.9 -1.0 0.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 54.1 - 66.2 104.5 -110.6 -4766.7
15.Return on Equity (D7 as % of A3) 2.7 -7.7 2.8 3.3 -2.8 0.0
3.Net profit margin (D7 as % of D1) 0.9 -2.0 1.1 1.0 -1.0 0.0
4.Earning per share before tax (D7/No. of ordinary shares) 4.1 -10.7 5.7 8.3 -1.8 0.0
119
Olympia Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -96.8 -72.8 -66.6 -91.2 -105.5 -145.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 42.5 71.5 80.5 32.5 198.0 -27.5
B.Liquidity:
1.Liquid Assets: 4.9 8.0 4.6 7.1 6.3 5.5
(i)Cash 4.9 8.0 4.6 7.1 6.3 5.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 29.3 91.2 153.7 73.5 64.5 12.8
C.Fixed Assets:
4.Total assets (B4+C2) 257.4 338.1 416.0 346.6 336.3 279.9
D.Operation:
1.Gross sales 563.2 664.6 483.0 648.2 668.3 638.6
(i)Local sales 563.2 664.6 483.0 648.2 668.3 638.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 535.7 617.9 452.0 628.2 659.2 652.6
3.Gross profit 27.5 46.7 31.0 20.0 9.1 -14.0
8.Tax provision 1.0 3.3 2.4 3.2 -3.3 3.2
F.Cash Flow Data
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 22.2 12.2 27.0 -35.2 15.6 -9.4
120
Paramount Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 213.4 228.0 322.5 784.0 606.1 619.8
5.Debentures 410.0 499.8 283.7 180.6 0.0 0.0
B.Liquidity:
1.Liquid Assets: 158.4 139.9 138.7 558.0 470.3 495.4
(i)Cash 85.8 54.8 57.7 38.4 48.9 74.6
(ii)Investments 72.6 85.1 81.0 519.6 421.4 420.8
3.Inventories 97.6 277.5 462.3 523.8 702.4 1192.1
C.Fixed Assets:
4.Total assets (B4+C2) 872.3 1325.6 1719.8 2250.6 2431.4 2862.0
D.Operation:
1.Gross sales 972.9 1278.2 1110.5 1658.7 1852.3 2549.1
(i)Local sales 237.5 426.4 573.4 569.9 500.2 1091.6
(ii)Export sales 735.4 851.8 537.1 1088.8 1352.1 1457.5
2.Cost of Sales 871.9 1180.1 976.9 1388.5 1548.2 2195.2
3.Gross profit 101.0 98.1 133.6 270.2 304.1 353.9
8.Tax provision 10.5 10.7 6.2 15.0 19.0 14.6
F.Cash Flow Data
121
Premium Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 144.5 108.4 226.9 162.5 157.0 162.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.7 2.3 1.4 1.1 2.5 2.8
(i)Cash 3.7 2.3 1.4 1.1 2.5 2.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 12.6 319.2 609.2 315.8 238.9 347.6
C.Fixed Assets:
4.Total assets (B4+C2) 710.4 1117.4 1600.0 1233.1 1252.8 1548.3
D.Operation:
1.Gross sales 886.0 1044.2 996.0 1471.2 1499.6 1924.0
(i)Local sales 886.0 1010.8 971.5 1471.2 1484.6 1897.4
(ii)Export sales 0.0 33.4 24.5 0.0 15.0 26.6
2.Cost of Sales 805.5 963.5 875.5 1279.2 1347.9 1727.2
3.Gross profit 80.5 80.7 120.5 192.0 151.7 196.8
8.Tax provision 5.0 4.8 4.4 7.3 7.4 10.0
F.Cash Flow Data
122
Prosperity Weaving Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 142.8 178.0 169.3 226.0 213.9 149.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 293.3 51.7 60.4 2.6 43.7 9.0
(i)Cash 43.3 1.7 53.4 2.6 43.7 9.0
(ii)Investments 250.0 50.0 7.0 0.0 0.0 0.0
3.Inventories 75.6 104.4 190.7 170.3 265.0 296.8
C.Fixed Assets:
4.Total assets (B4+C2) 1166.6 1439.9 1492.3 1422.8 1572.8 1557.3
D.Operation:
1.Gross sales 1506.5 1873.3 1798.5 2699.4 2702.6 2737.6
(i)Local sales 287.6 571.8 828.8 2699.4 1127.5 1379.1
(ii)Export sales 1218.9 1301.5 969.7 0.0 1575.1 1358.5
2.Cost of Sales 1363.3 1764.5 1681.5 2497.6 2542.7 2602.6
3.Gross profit 143.2 108.8 117.0 201.8 159.9 135.0
8.Tax provision 11.9 14.8 9.9 17.2 19.4 13.9
2.Retention in business (D7-D8-D9) 28.0 27.7 -13.1 32.1 -4.5 -67.9
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 17.1 7.3 -32.4 -62.1 -7.8 -61.5
123
Qayyum Spinning Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -250.4 -250.4 -250.4 -250.4 -250.4 -250.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.2 0.2 0.2 0.2 0.2 0.2
(i)Cash 0.2 0.2 0.2 0.2 0.2 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 34.4 34.4 34.4 34.4 34.4 34.4
D.Operation:
1.Gross sales 1.3 1.3 1.3 1.3 1.3 1.3
(i)Local sales 1.3 1.3 1.3 1.3 1.3 1.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 4.8 4.8 4.8 4.8 4.8 4.8
3.Gross profit -3.5 -3.5 -3.5 -3.5 -3.5 -3.5
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - -17.1 -17.1 -17.1 -17.1 -17.1
124
Quality Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 92.7 52.1 197.4 240.1 231.3 229.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.0 2.0 1.8 1.6 0.6 1.0
(i)Cash 1.0 2.0 1.8 1.6 0.6 1.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 43.7 106.8 184.3 224.7 179.7 228.4
C.Fixed Assets:
4.Total assets (B4+C2) 476.0 558.2 725.4 936.3 850.3 898.3
D.Operation:
1.Gross sales 815.8 865.4 761.6 888.4 953.9 1033.0
(i)Local sales 481.8 421.9 624.0 888.4 686.2 853.3
(ii)Export sales 334.0 443.5 137.6 0.0 267.7 179.7
2.Cost of Sales 744.6 943.8 665.1 789.0 866.5 938.0
3.Gross profit 71.2 -78.4 96.5 99.4 87.4 95.0
7.Net profit before tax (D5-D6) 15.8 -141.9 51.1 32.4 14.5 21.5
8.Tax provision 4.1 8.2 4.5 5.7 4.8 5.2
2.Retention in business (D7-D8-D9) 4.1 -150.1 46.6 10.7 9.7 16.3
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 3.3 -25.4 7.0 3.5 1.7 2.4
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 25.9 - 8.8 17.6 33.1 24.2
15.Return on Equity (D7 as % of A3) 6.5 -67.0 14.3 8.1 3.7 5.5
3.Net profit margin (D7 as % of D1) 1.9 -16.4 6.7 3.6 1.5 2.1
4.Earning per share before tax (D7/No. of ordinary shares) 1.0 -8.9 3.2 2.0 0.9 1.3
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.8 -9.4 2.9 1.7 0.6 1.0
125
Quetta Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 349.8 402.1 618.7 669.5 701.4 382.7
5.Debentures 750.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 21.4 299.4 66.7 90.1 7.7 135.2
(i)Cash 13.4 12.8 9.3 6.7 5.7 2.9
(ii)Investments 8.0 286.6 57.4 83.4 2.0 132.3
3.Inventories 389.0 646.6 1109.0 1210.4 1104.0 2074.6
C.Fixed Assets:
4.Total assets (B4+C2) 2465.5 3169.5 4389.8 5177.6 5661.1 7513.3
D.Operation:
1.Gross sales 3338.7 4115.1 2859.9 4735.9 5093.4 6015.5
(i)Local sales 1088.5 1540.7 757.2 2130.6 2467.4 2696.6
(ii)Export sales 2250.2 2574.4 2102.7 2605.3 2626.0 3318.9
2.Cost of Sales 3090.9 3865.7 2608.0 4339.9 4592.9 5421.7
3.Gross profit 247.8 249.4 251.9 396.0 500.5 593.8
8.Tax provision 26.3 32.3 25.5 38.7 37.3 33.3
F.Cash Flow Data
126
Rashid Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -149.9 -149.9 -149.9 -149.9 -149.9 -149.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.4 0.4 0.4 0.4 0.4 0.4
(i)Cash 0.4 0.4 0.4 0.4 0.4 0.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 85.8 85.8 85.8 85.8 85.8 85.8
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.8 0.8 0.8 0.8 0.8
3.Gross profit 0.0 -0.8 -0.8 -0.8 -0.8 -0.8
8.Tax provision 0.8 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
127
Ravi Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -37.4 -40.7 117.5 75.8 -65.9 72.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.9 2.6 0.1 0.4 0.2 3.9
(i)Cash 0.9 2.6 0.1 0.4 0.2 3.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 43.6 47.4 89.7 78.6 0.6 23.9
C.Fixed Assets:
4.Total assets (B4+C2) 223.6 216.0 386.0 389.4 201.3 382.9
D.Operation:
1.Gross sales 383.1 521.3 361.2 448.2 282.7 12.6
(i)Local sales 383.1 521.3 361.2 448.2 282.7 12.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 379.5 501.7 361.1 443.4 301.4 27.2
3.Gross profit 3.6 19.6 0.1 4.8 -18.7 -14.6
7.Net profit before tax (D5-D6) 23.5 -2.4 -17.3 -29.9 -63.9 4.6
8.Tax provision 1.9 2.3 1.6 2.2 1.4 0.1
2.Retention in business (D7-D8-D9) 21.6 -4.7 -18.9 -32.1 -65.3 4.5
3.Finance from outside the company (E1-E2) -45.7 -3.4 170.3 -38.2 -53.8 111.9
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 33.7 6.4 -11.0 -18.4 -51.5 16.6
5.Return on assets (D7 as % of C4) 10.5 -1.1 -4.5 -7.7 -31.7 1.2
6.Self financing ratio (E2 as % of E1) - - -12.5 45.7 54.8 3.9
7.Cash flow ratio F1 as % of F2 - 213.3 -6.9 32.5 48.9 12.9
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 8.1 - - -7.4 -2.2 2.2
15.Return on Equity (D7 as % of A3) 71.2 -8.1 -9.2 -20.5 -1420.0 3.2
3.Net profit margin (D7 as % of D1) 6.1 -0.5 -4.8 -6.7 -22.6 36.5
4.Earning per share before tax (D7/No. of ordinary shares) 3.3 -0.3 -2.5 -4.2 -9.1 0.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 3.1 -0.7 -2.7 -4.6 -9.3 0.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 560.0 -109.1 733.3 68.0 116.7 -107.7
128
Redco Textiles Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -271.8 298.6 637.8 637.8 319.3 49.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.5 0.2 0.2 0.2 0.8 25.4
(i)Cash 7.5 0.2 0.2 0.2 0.7 22.6
(ii)Investments 0.0 0.0 0.0 0.0 0.1 2.8
3.Inventories 0.0 207.0 164.1 164.1 186.8 209.4
C.Fixed Assets:
4.Total assets (B4+C2) 836.5 1284.5 1244.3 1244.3 1390.5 1432.7
D.Operation:
1.Gross sales 526.6 622.0 493.8 493.8 742.5 1036.3
(i)Local sales 520.0 426.8 384.8 384.8 627.2 961.7
(ii)Export sales 6.6 195.2 109.0 109.0 115.3 74.6
2.Cost of Sales 534.8 613.3 443.3 443.3 675.2 1029.5
3.Gross profit -8.2 8.7 50.5 50.5 67.3 6.8
8.Tax provision 2.6 2.8 2.3 2.3 3.1 4.8
F.Cash Flow Data
15.Return on Equity (D7 as % of A3) - -3.0 5.6 5.6 0.1 -8.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 0.0 -30.0 -428.6 0.0 -100.0 0.0
129
Regent Textile Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -45.7 -48.8 104.6 -29.1 -14.4 -13.9
3.Shareholder's Equity (A1+A2) 1.9 -1.2 152.2 18.5 33.2 33.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.5 0.2 0.4 1.3 6.3 8.2
(i)Cash 0.5 0.2 0.4 1.3 1.7 3.0
(ii)Investments 0.0 0.0 0.0 0.0 4.6 5.2
3.Inventories 1.3 14.9 19.2 17.7 30.2 27.4
C.Fixed Assets:
4.Total assets (B4+C2) 204.2 185.7 205.3 233.4 262.9 268.2
D.Operation:
1.Gross sales 105.0 78.1 71.7 202.2 233.5 281.4
(i)Local sales 105.0 78.1 71.7 202.2 233.5 281.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 99.0 79.8 66.0 181.7 216.6 265.1
3.Gross profit 6.0 -1.7 5.7 20.5 16.9 16.3
8.Tax provision 0.5 0.3 0.3 1.0 1.2 1.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -57.6 -6.4 157.6 -124.6 13.6 -3.6
F.Cash Flow Data
4.Debt equity ratio (B6 as % of A3) 10642.1 - 35.0 1162.2 691.9 695.8
6.Self financing ratio (E2 as % of E1) - - 2.9 -10.4 86.8 -58.3
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 4.0 -2.5 319.7 38.9 69.7 70.8
15.Return on Equity (D7 as % of A3) -347.4 - 3.2 88.1 39.2 10.4
2.Dividend ratio to equity (D9 as % of A3) 0.0 - 0.0 13.0 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -52.7 -25.6 -8.2 182.0 15.5 20.5
10.Break-up value of ordinary shares (in rupees) 0.4 -0.3 32.0 3.9 7.0 7.1
130
Reliance Cotton Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 211.6 247.7 289.9 291.6 345.9 345.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.7 15.1 9.6 3.7 7.0 7.0
(i)Cash 6.7 15.1 9.6 3.7 7.0 7.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 127.0 197.4 314.8 303.7 314.6 314.6
C.Fixed Assets:
4.Total assets (B4+C2) 715.2 787.5 1094.1 1056.3 1054.0 1054.0
D.Operation:
1.Gross sales 726.6 863.0 777.4 1154.8 1341.2 1341.2
(i)Local sales 166.6 190.1 181.1 205.8 245.4 245.4
(ii)Export sales 560.0 672.9 596.3 949.0 1095.8 1095.8
2.Cost of Sales 640.9 790.2 677.4 1043.2 1182.4 1182.4
3.Gross profit 85.7 72.8 100.0 111.6 158.8 158.8
8.Tax provision 9.7 10.2 7.3 9.6 16.4 16.4
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -3.6 -20.4 34.9 -39.7 108.6 0.0
131
Reliance Weaving Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 341.6 459.8 510.1 590.6 569.8 459.4
5.Debentures 107.1 0.0 42.9 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.3 51.6 8.3 103.1 111.8 75.7
(i)Cash 7.3 51.6 8.3 32.6 41.8 75.7
(ii)Investments 0.0 0.0 0.0 70.5 70.0 0.0
3.Inventories 429.0 557.0 787.0 746.6 772.4 1343.1
C.Fixed Assets:
4.Total assets (B4+C2) 1889.3 2045.4 3392.7 3345.3 3429.0 4119.1
D.Operation:
1.Gross sales 2268.6 2781.6 2077.6 3150.6 3401.0 3509.6
(i)Local sales 863.6 544.7 764.4 1367.6 1070.2 867.2
(ii)Export sales 1405.0 2236.9 1313.2 1783.0 2330.8 2642.4
2.Cost of Sales 1979.2 2493.8 1819.8 2728.0 3054.6 3193.8
3.Gross profit 289.4 287.8 257.8 422.6 346.4 315.8
8.Tax provision 14.0 22.0 10.5 17.9 15.4 26.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 108.7 -18.2 695.7 -422.1 454.6 -474.3
3.Finance from outside the company (E1-E2) 29.4 -121.9 615.1 -548.2 422.7 -367.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 73.0 - 11.6 -29.9 7.0 22.6
132
Resham Textile Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -128.0 194.6 214.1 174.4 82.7 35.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 11.4 25.1 0.7 2.8 5.0 4.0
(i)Cash 11.4 25.1 0.7 2.8 5.0 4.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 56.7 98.6 209.8 171.6 186.5 226.3
C.Fixed Assets:
4.Total assets (B4+C2) 359.1 569.8 992.5 1048.1 1040.2 1169.1
D.Operation:
1.Gross sales 803.2 919.6 640.5 977.2 1204.1 1302.2
(i)Local sales 635.9 701.1 262.3 977.2 1160.8 1297.1
(ii)Export sales 167.3 218.5 378.2 0.0 43.3 5.1
2.Cost of Sales 785.9 878.0 580.7 925.0 1157.3 1266.0
3.Gross profit 17.3 41.6 59.8 52.2 46.8 36.2
7.Net profit before tax (D5-D6) -2.9 16.8 21.5 -6.4 -31.2 -54.3
8.Tax provision 5.0 6.2 1.4 5.2 6.3 6.5
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -0.8 2.9 2.2 -0.6 -3.0 -4.6
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 36.9 6.5 -81.3 -20.2 -12.0
15.Return on Equity (D7 as % of A3) - 4.4 4.7 -1.5 -8.2 -13.7
3.Net profit margin (D7 as % of D1) -0.4 1.8 3.4 -0.7 -2.6 -4.2
4.Earning per share before tax (D7/No. of ordinary shares) -0.3 0.9 0.9 -0.3 -1.0 -1.5
133
Ruby Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -6.4 280.0 276.4 249.4 165.6 233.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.6 36.8 16.7 3.0 15.5 2.5
(i)Cash 6.6 36.8 16.7 3.0 15.5 2.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 28.7 118.4 102.3 146.4 93.8 198.7
C.Fixed Assets:
4.Total assets (B4+C2) 391.2 773.1 741.0 882.5 1273.0 1508.7
D.Operation:
1.Gross sales 483.9 618.6 508.8 643.1 896.8 1081.1
(i)Local sales 355.9 518.7 430.8 551.7 741.2 899.3
(ii)Export sales 128.0 99.9 78.0 91.4 155.6 181.8
2.Cost of Sales 462.0 579.4 479.0 613.1 870.1 1029.1
3.Gross profit 21.9 39.2 29.8 30.0 26.7 52.0
8.Tax provision 2.5 3.0 2.6 3.2 4.5 5.4
3.Finance from outside the company (E1-E2) 37.3 418.3 -158.9 211.1 145.6 275.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -3.6 1.7 - -10.1 -71.9 -26.8
7.Cash flow ratio F1 as % of F2 25.8 5.5 - 4.9 -24.3 -4.7
134
Safa Textiles Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -9.4 -6.9 -2.6 0.2 9.6 8.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.4 2.2 0.4 0.3 4.3 1.1
(i)Cash 1.4 2.2 0.4 0.3 4.3 1.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 8.9 6.5 14.2 19.9 69.9 68.6
C.Fixed Assets:
4.Total assets (B4+C2) 39.6 39.8 64.1 73.2 133.7 148.2
D.Operation:
1.Gross sales 132.6 158.5 180.5 227.8 265.7 367.4
(i)Local sales 0.0 0.0 0.0 17.1 0.0 0.0
(ii)Export sales 132.6 158.5 180.5 210.7 265.7 367.4
2.Cost of Sales 112.3 138.3 156.5 196.5 223.9 328.3
3.Gross profit 20.3 20.2 24.0 31.3 41.8 39.1
8.Tax provision 1.0 1.2 1.4 2.1 2.7 3.5
3.Finance from outside the company (E1-E2) -0.4 -0.1 0.1 0.7 -0.6 -2.3
F.Cash Flow Data
135
Saif Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 541.7 613.6 502.5 710.7 749.3 709.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 13.1 25.6 26.9 45.1 3.2 4.9
(i)Cash 13.1 7.0 1.9 15.0 3.2 4.9
(ii)Investments 0.0 18.6 25.0 30.1 0.0 0.0
3.Inventories 524.6 600.4 797.4 955.6 933.6 911.5
C.Fixed Assets:
4.Total assets (B4+C2) 1701.7 2744.9 3045.9 3586.1 4181.5 4292.5
D.Operation:
1.Gross sales 1357.9 1943.6 2223.7 3473.3 3813.0 4489.2
(i)Local sales 1174.2 1899.3 1923.6 2685.1 2793.7 3125.7
(ii)Export sales 183.7 44.3 300.1 788.2 1019.3 1363.5
2.Cost of Sales 1216.7 1781.4 2033.8 3127.1 3423.6 4048.8
3.Gross profit 141.2 162.2 189.9 346.2 389.4 440.4
8.Tax provision 6.9 3.1 14.2 17.3 19.0 22.4
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] 374.6 284.1 122.8 247.9 -287.3 0.0
136
Saitex Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -364.2 -390.8 -253.7 -286.3 -74.0 -74.2
3.Shareholder's Equity (A1+A2) -290.2 -316.8 -179.7 -212.3 0.0 -0.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -148.0 -170.5 -36.5 -212.3 0.2 0.0
B.Liquidity:
1.Liquid Assets: 0.2 0.2 0.1 0.2 0.2 0.1
(i)Cash 0.2 0.2 0.1 0.2 0.2 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.9 0.0 0.0 0.0
9.Net liquid assets (B1-B5) -326.2 -334.1 -190.8 -332.4 0.1 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 178.5 163.8 154.3 120.3 0.3 0.1
D.Operation:
1.Gross sales 11.5 0.0 0.0 0.0 0.0 0.0
(i)Local sales 11.5 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 30.0 0.0 8.7 0.0 0.0 0.0
3.Gross profit -18.5 0.0 -8.7 0.0 0.0 0.0
5.Operating profit 62.2 -13.4 0.9 -6.7 -0.2 -0.2
8.Tax provision 0.1 0.0 0.0 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -275.0 -22.5 134.0 -175.8 212.5 -0.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 63.2 -2.0 2.8 -14.0 -0.2 -0.2
2.Depreciation for the year plus changes in capital employed (C3+E1) -260.9 -11.1 141.7 -175.8 212.5 -0.2
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -392.2 -428.1 -242.8 -286.9 0.0 -0.3
10.Financial expenses as % of operating profit (D6 as % of D5) 20.9 - 644.4 -109.0 0.0 0.0
3.Net profit margin (D7 as % of D1) 427.8 - - 0.0 0.0 0.0
4.Earning per share before tax (D7/No. of ordinary shares) 6.6 -1.8 -0.7 -1.9 0.0 0.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 6.6 -1.8 -0.7 -1.9 0.0 0.0
137
Sajjad Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 13.0 -12.2 3.9 -8.2 -71.5 -163.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.6 6.6 2.1 7.1 0.7 4.6
(i)Cash 2.6 6.6 2.1 7.1 0.7 4.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 33.0 49.0 92.0 104.0 101.1 123.7
C.Fixed Assets:
4.Total assets (B4+C2) 453.5 462.6 508.2 570.0 575.6 589.3
D.Operation:
1.Gross sales 487.5 666.1 486.1 642.1 757.0 789.5
(i)Local sales 424.1 510.4 368.9 456.3 386.0 572.0
(ii)Export sales 63.4 155.7 117.2 185.8 371.0 217.5
2.Cost of Sales 471.2 651.2 436.3 605.5 700.6 778.7
3.Gross profit 16.3 14.9 49.8 36.6 56.4 10.8
8.Tax provision 2.4 18.2 3.1 3.2 3.7 4.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - -13.7 - 3.3 -6.2 -166.8
138
Saleem Denim Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -105.6 -196.6 -210.1 -23.6 -23.6 -23.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.1 0.0 0.0 0.0 0.0 0.0
(i)Cash 0.1 0.0 0.0 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 5.2 7.4 5.2 5.2 5.2
C.Fixed Assets:
4.Total assets (B4+C2) 127.7 107.7 104.0 98.5 98.5 98.5
D.Operation:
1.Gross sales 10.3 0.0 0.0 0.0 0.0 0.0
(i)Local sales 10.3 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 15.4 0.0 0.0 0.0 0.0 0.0
3.Gross profit -5.1 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.1 0.0 0.0 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 0.0 -119.3 -15.6 195.2 0.0 0.0
3.Finance from outside the company (E1-E2) 21.0 -100.2 -2.2 7.6 -187.6 -187.6
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 0.0 -100.0 - - - -
139
Salfi Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 420.2 423.6 716.0 779.6 727.0 1125.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 57.9 50.6 48.8 108.6 148.5 132.4
(i)Cash 26.4 19.3 15.4 5.5 32.7 18.6
(ii)Investments 31.5 31.3 33.4 103.1 115.8 113.8
3.Inventories 187.2 177.8 286.8 534.3 238.2 813.2
7.Net Current Assets(B4-B5) 29.3 38.8 -16.9 6.8 220.4 -584.0
C.Fixed Assets:
4.Total assets (B4+C2) 984.5 932.5 1401.7 2259.4 2047.4 3286.1
D.Operation:
1.Gross sales 838.1 1123.3 828.0 824.7 1669.5 1942.7
(i)Local sales 838.1 1123.3 828.0 824.7 1349.5 1646.7
(ii)Export sales 0.0 0.0 0.0 0.0 320.0 296.0
2.Cost of Sales 789.4 1048.7 779.5 733.4 1508.7 1689.3
3.Gross profit 48.7 74.6 48.5 91.3 160.8 253.4
8.Tax provision 4.3 9.2 3.9 4.6 8.5 10.4
2.Retention in business (D7-D8-D9) -3.3 10.9 -6.3 -0.5 -32.9 14.7
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -1.4 - -2.1 -0.1 -17.5 -6.1
1.Dividend cover ratio [(D7 - D8) as % of D9] - - -110.0 84.8 0.0 0.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -1.1 3.6 -1.0 0.8 -9.9 4.4
140
Sally Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -216.4 -178.2 -187.0 -172.6 -212.9 -286.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.3 3.0 5.2 1.2 12.1 12.9
(i)Cash 2.3 3.0 5.2 1.2 12.1 12.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 71.4 99.2 228.7 208.5 126.3 398.3
C.Fixed Assets:
4.Total assets (B4+C2) 361.1 509.5 680.3 727.7 731.7 1032.1
D.Operation:
1.Gross sales 540.9 655.3 518.6 798.1 883.7 1035.6
(i)Local sales 540.9 655.3 518.6 798.1 882.5 1024.4
(ii)Export sales 0.0 0.0 0.0 0.0 1.2 11.2
2.Cost of Sales 499.8 602.9 472.0 721.9 828.4 1011.1
3.Gross profit 41.1 52.4 46.6 76.2 55.3 24.5
8.Tax provision 2.7 3.3 2.6 4.0 4.4 5.4
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -4.8 21.1 - -28.0 37.5 72.4
7.Cash flow ratio F1 as % of F2 4.8 36.4 - -245.1 -276.0 61.1
141
Salman Noman Enterprises Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 38.5 128.5 222.0 121.9 135.7 242.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.6 1.4 3.8 0.7 0.7 4.2
(i)Cash 1.6 1.4 3.8 0.7 0.7 4.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 31.7 51.8 56.6 68.1 59.8 94.0
C.Fixed Assets:
4.Total assets (B4+C2) 188.1 381.9 372.8 373.3 437.5 795.7
D.Operation:
1.Gross sales 401.4 499.9 384.7 474.0 501.9 584.8
(i)Local sales 401.4 499.9 384.7 474.0 501.9 584.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 383.3 487.3 364.8 452.6 474.2 563.4
3.Gross profit 18.1 12.6 19.9 21.4 27.7 21.4
8.Tax provision 2.0 2.4 1.9 2.3 2.5 1.8
2.Retention in business (D7-D8-D9) 1.3 -2.6 7.5 -0.5 1.7 1.1
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 5.1 -3.0 7.5 0.4 13.2 0.3
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.3 -0.7 1.9 -0.1 0.4 0.3
142
Samin Textiles Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 74.1 26.5 129.3 265.5 128.1 921.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 68.7 46.2 74.6 88.3 121.8 22.7
(i)Cash 32.1 9.6 38.0 14.3 11.6 22.7
(ii)Investments 36.6 36.6 36.6 74.0 110.2 0.0
3.Inventories 268.6 359.0 402.8 390.0 389.7 311.1
C.Fixed Assets:
4.Total assets (B4+C2) 1205.5 1311.1 1422.2 1440.2 1527.7 2604.7
D.Operation:
1.Gross sales 1049.2 1609.7 1361.6 1634.3 1687.5 1613.6
(i)Local sales 121.6 298.5 623.4 686.7 708.3 827.2
(ii)Export sales 927.6 1311.2 738.2 947.6 979.2 786.4
2.Cost of Sales 921.3 1491.4 1235.6 1443.5 1536.1 1565.7
3.Gross profit 127.9 118.3 126.0 190.8 151.4 47.9
7.Net profit before tax (D5-D6) 16.5 -39.2 -17.2 42.2 31.4 -11.9
8.Tax provision 13.5 16.4 12.8 12.5 12.8 11.3
2.Retention in business (D7-D8-D9) 3.0 -55.6 -30.0 29.7 18.6 -23.2
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 1.4 -3.0 -1.2 2.9 2.1 -0.5
6.Self financing ratio (E2 as % of E1) 1.4 - -21.0 35.3 -6.6 -2.0
7.Cash flow ratio F1 as % of F2 13.6 - 8.0 62.0 -40.7 3.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 81.8 - - 29.6 40.8 -95.0
15.Return on Equity (D7 as % of A3) 7.9 -24.5 -6.5 10.6 12.0 -1.1
3.Net profit margin (D7 as % of D1) 1.6 -2.4 -1.3 2.6 1.9 -0.7
4.Earning per share before tax (D7/No. of ordinary shares) 1.2 -2.9 -1.3 3.2 2.4 -0.9
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.2 -4.2 -2.2 2.2 1.4 -1.7
143
Sana Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 145.1 148.9 152.2 158.4 0.0 137.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.0 2.5 5.3 7.5 15.3 4.4
(i)Cash 7.0 2.5 5.3 7.5 15.3 4.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 42.8 64.9 76.3 57.5 69.2 78.8
C.Fixed Assets:
4.Total assets (B4+C2) 259.5 282.3 305.0 336.8 355.3 359.6
D.Operation:
1.Gross sales 426.4 492.3 336.7 481.6 382.8 385.7
(i)Local sales 426.4 492.3 336.7 481.6 382.8 385.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 372.9 447.9 316.8 427.9 411.1 348.0
3.Gross profit 53.5 44.4 19.9 53.7 -28.3 37.7
5.Operating profit 40.1 28.9 15.0 39.4 -40.6 23.7
8.Tax provision 6.1 10.7 3.4 12.9 2.1 2.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 335.7 184.2 -1.5 21.6 36.5 -0.4
10.Financial expenses as % of operating profit (D6 as % of D5) 3.2 4.2 12.0 18.8 -35.0 69.6
144
Sapphire Fibres Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 2039.0 2264.6 2822.7 4857.4 7453.9 7341.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 587.1 700.3 1094.1 3194.8 5583.0 5946.2
(i)Cash 66.4 62.0 42.0 35.6 28.0 32.2
(ii)Investments 520.7 638.3 1052.1 3159.2 5555.0 5914.0
3.Inventories 548.9 807.0 1489.2 1291.0 1322.7 2082.3
9.Net liquid assets (B1-B5) -793.3 -831.3 -1154.6 720.8 2840.5 2373.9
C.Fixed Assets:
4.Total assets (B4+C2) 3668.3 4345.8 5717.0 8009.0 10999.1 12352.9
D.Operation:
1.Gross sales 3522.1 4350.3 3369.6 4811.4 5417.9 6511.5
(i)Local sales 2663.3 1024.3 984.4 4811.4 1496.4 1570.0
(ii)Export sales 858.8 3326.0 2385.2 0.0 3921.5 4941.5
2.Cost of Sales 3142.7 3966.4 2941.5 4222.4 4689.0 5420.6
3.Gross profit 379.4 383.9 428.1 589.0 728.9 1090.9
8.Tax provision 32.2 52.6 36.1 49.9 75.8 75.5
F.Cash Flow Data
145
Sapphire Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 2174.4 2213.3 2919.5 3690.4 5816.1 5375.7
5.Debentures 8.5 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 527.7 635.3 904.6 1959.7 453.9 207.6
(i)Cash 29.3 56.5 41.3 33.3 53.8 66.9
(ii)Investments 498.4 578.8 863.3 1926.4 400.1 140.7
3.Inventories 831.9 1249.6 1860.9 1908.7 1949.1 3278.7
C.Fixed Assets:
4.Total assets (B4+C2) 4984.1 5800.6 7314.4 9215.6 11124.1 12323.3
D.Operation:
1.Gross sales 5968.5 7796.6 5560.2 8270.2 9124.8 9746.7
(i)Local sales 2508.9 3344.0 2241.2 4215.3 4652.8 5129.5
(ii)Export sales 3459.6 4452.6 3319.0 4054.9 4472.0 4617.2
2.Cost of Sales 5397.1 7426.6 4955.9 7505.4 8289.6 8618.6
3.Gross profit 571.4 370.0 604.3 764.8 835.2 1128.1
8.Tax provision 41.9 57.6 41.5 55.7 64.6 60.5
F.Cash Flow Data
146
Sargodha Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -85.1 73.2 116.0 160.0 69.6 364.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.5 1.6 3.3 1.1 1.9 2.2
(i)Cash 2.4 0.4 1.7 0.6 1.0 1.7
(ii)Investments 1.1 1.2 1.6 0.5 0.9 0.5
3.Inventories 97.3 142.2 185.3 200.0 149.7 191.6
C.Fixed Assets:
4.Total assets (B4+C2) 763.4 944.4 1011.5 1146.3 1093.9 1378.1
D.Operation:
1.Gross sales 1294.1 1502.6 1070.2 1431.0 1349.2 1505.5
(i)Local sales 1044.7 1216.6 809.4 1098.3 880.0 1182.4
(ii)Export sales 249.4 286.0 260.8 332.7 469.2 323.1
2.Cost of Sales 1229.5 1442.8 977.7 1280.8 1309.6 1437.1
3.Gross profit 64.6 59.8 92.5 150.2 39.6 68.4
8.Tax provision 5.7 6.7 4.8 7.2 6.8 7.5
F.Cash Flow Data
147
Saritow Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 158.1 -55.3 -42.8 -44.0 -49.9 -11.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.4 0.6 1.5 3.7 6.6 6.1
(i)Cash 1.4 0.6 1.5 3.7 6.6 6.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 42.1 57.5 109.7 162.4 156.3 188.6
C.Fixed Assets:
4.Total assets (B4+C2) 568.9 425.2 475.6 598.0 601.3 595.1
D.Operation:
1.Gross sales 736.2 304.0 289.5 411.3 464.5 450.6
(i)Local sales 380.1 303.5 289.5 411.3 464.5 450.6
(ii)Export sales 356.1 0.5 0.0 0.0 0.0 0.0
2.Cost of Sales 706.9 289.7 258.9 357.5 404.0 388.7
3.Gross profit 29.3 14.3 30.6 53.8 60.5 61.9
5.Operating profit -15.7 -1.4 21.3 39.3 45.3 45.3
8.Tax provision 4.6 1.3 1.5 2.9 2321.2 2.3
2.Retention in business (D7-D8-D9) -56.8 -13.3 11.7 5.2 -2315.1 8.3
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -35.4 1.0 21.6 17.8 -2302.7 22.4
2.Depreciation for the year plus changes in capital employed (C3+E1) -58.6 -154.1 48.4 -4.0 3.9 85.1
6.Self financing ratio (E2 as % of E1) - - 30.4 -31.3 27236.5 11.7
7.Cash flow ratio F1 as % of F2 - - 44.6 -445.0 -59043.6 26.3
10.Financial expenses as % of operating profit (D6 as % of D5) - - 38.0 79.4 86.5 76.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -4.3 -1.0 0.9 0.4 -174.3 0.6
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -1.2 -58.7 -4.8 42.1 12.9 -3.0
148
Service Fabrics Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -557.6 -557.6 -557.6 -391.8 -378.9 -379.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 34.4 34.4 34.4 -234.3 -221.4 -79.1
B.Liquidity:
1.Liquid Assets: 5.7 5.7 5.7 0.1 0.0 0.0
(i)Cash 5.7 5.7 5.7 0.1 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 2.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 471.3 471.3 471.3 134.1 0.0 0.0
D.Operation:
1.Gross sales 221.0 221.0 221.0 0.0 0.0 0.0
(i)Local sales 98.4 98.4 98.4 0.0 0.0 0.0
(ii)Export sales 122.6 122.6 122.6 0.0 0.0 0.0
2.Cost of Sales 271.2 271.2 271.2 0.0 0.0 0.0
3.Gross profit -50.2 -50.2 -50.2 0.0 0.0 0.0
5.Operating profit -75.9 -75.9 -75.9 1.4 13.0 -0.1
7.Net profit before tax (D5-D6) -106.2 -106.2 -106.2 1.2 12.8 -0.2
8.Tax provision 0.2 0.2 0.2 0.0 1.8 0.0
2.Retention in business (D7-D8-D9) -106.4 -106.4 -106.4 1.2 11.0 -0.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -60.0 -60.0 -60.0 1.2 11.0 -0.2
6.Self financing ratio (E2 as % of E1) - - - -0.4 85.3 -0.1
7.Cash flow ratio F1 as % of F2 -129.3 -129.3 -129.3 -0.4 85.3 -0.1
10.Financial expenses as % of operating profit (D6 as % of D5) - - - 14.3 0.0 -100.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 0.0 0.0 0.0 -100.0 - -
149
Service Industries Textiles Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -133.4 -132.7 -85.8 -83.4 -202.1 -233.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.2 0.4 0.5 2.4 0.4 1.1
(i)Cash 0.2 0.4 0.5 2.4 0.4 1.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 39.1 60.9 51.7 45.9 67.4 5.6
C.Fixed Assets:
4.Total assets (B4+C2) 254.6 328.8 336.5 277.9 273.1 187.1
D.Operation:
1.Gross sales 339.7 309.6 318.5 274.4 245.6 192.8
(i)Local sales 339.7 309.6 318.5 274.4 245.6 192.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 330.1 297.2 315.3 275.8 276.1 198.8
3.Gross profit 9.6 12.4 3.2 -1.4 -30.5 -6.0
5.Operating profit -1.1 23.3 -7.9 38.5 -45.4 -18.6
8.Tax provision 1.5 1.5 1.4 1.4 1.2 1.0
2.Retention in business (D7-D8-D9) -9.0 11.3 -19.7 17.2 -73.2 -37.7
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 6.8 52.5 -7.5 38.5 -53.2 -23.3
6.Self financing ratio (E2 as % of E1) - 45.9 - -22.6 60.3 -43.7
7.Cash flow ratio F1 as % of F2 - 79.8 -100.0 -70.4 52.5 -23.1
10.Financial expenses as % of operating profit (D6 as % of D5) - 45.1 - 51.7 -58.6 -97.3
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -2.0 2.5 -4.4 3.9 -16.4 -8.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -28.0 -8.9 2.9 -13.8 -10.5 -21.5
150
Shadab Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 46.5 63.3 85.7 109.8 82.7 81.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.6 1.1 4.7 1.1 1.7 0.8
(i)Cash 0.6 1.1 4.7 1.1 1.7 0.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 52.2 83.0 68.5 35.6 67.4 127.3
7.Net Current Assets(B4-B5) -6.1 1.5 13.2 6.6 -62.4 -41.7
C.Fixed Assets:
4.Total assets (B4+C2) 231.6 303.0 327.1 423.9 405.0 460.9
D.Operation:
1.Gross sales 703.2 703.2 563.5 684.4 705.8 868.9
(i)Local sales 703.2 703.2 563.5 684.4 701.1 868.9
(ii)Export sales 0.0 0.0 0.0 0.0 4.7 0.0
2.Cost of Sales 656.4 656.4 513.1 612.9 654.9 817.9
3.Gross profit 46.8 46.8 50.4 71.5 50.9 51.0
8.Tax provision 3.0 3.0 2.5 3.4 3.5 4.3
F.Cash Flow Data
151
Shadman Cotton Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 250.7 253.3 269.4 269.1 106.1 32.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 17.5 11.7 20.3 7.6 7.2 5.4
(i)Cash 17.5 11.7 20.3 7.6 7.2 5.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 302.8 593.8 713.6 596.3 450.8 855.1
C.Fixed Assets:
4.Total assets (B4+C2) 1415.5 2029.2 1982.8 1882.6 1823.7 2230.4
D.Operation:
1.Gross sales 1844.9 2690.0 1970.9 2464.0 2389.7 2904.7
(i)Local sales 1186.3 1874.3 1530.6 1640.1 1704.5 2348.4
(ii)Export sales 658.6 815.7 440.3 823.9 685.2 556.3
2.Cost of Sales 1658.7 2557.0 1833.2 2251.6 2247.2 2735.1
3.Gross profit 186.2 133.0 137.7 212.4 142.5 169.6
8.Tax provision 14.2 12.0 8.8 12.7 12.2 14.4
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 101.1 26.5 68.3 -111.8 -8.5 14.8
152
Shaheen Cotton Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 127.7 195.3 229.5 240.2 107.0 133.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 27.2 60.4 87.1 69.6 61.9 66.0
(i)Cash 6.9 25.6 6.1 11.5 14.4 11.2
(ii)Investments 20.3 34.8 81.0 58.1 47.5 54.8
3.Inventories 32.5 83.4 113.3 152.4 75.5 189.1
C.Fixed Assets:
4.Total assets (B4+C2) 564.9 644.0 773.8 772.3 664.3 818.1
D.Operation:
1.Gross sales 783.3 828.0 706.8 890.3 935.5 1054.2
(i)Local sales 653.4 723.9 489.6 590.5 619.2 700.7
(ii)Export sales 129.9 104.1 217.2 299.8 316.3 353.5
2.Cost of Sales 735.3 795.1 639.8 814.0 877.6 1023.8
3.Gross profit 48.0 32.9 67.0 76.3 57.9 30.4
8.Tax provision 4.8 4.1 3.2 4.5 4.7 5.3
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 387.5 -6.7 24.7 101.6 -7.8 -13.9
153
Shahpur Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - - - -123.3 -165.8 -151.9
3.Shareholder's Equity (A1+A2) - - - 16.5 -26.0 -12.1
5.Debentures - - - 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - - - 2.2 2.7 0.0
(i)Cash - - - 2.2 2.7 0.0
(ii)Investments - - - 0.0 0.0 0.0
3.Inventories - - - 82.7 52.9 43.4
7.Net Current Assets(B4-B5) - - - -242.5 -327.9 -381.2
C.Fixed Assets:
4.Total assets (B4+C2) - - - 501.2 535.2 476.5
D.Operation:
1.Gross sales - - - 569.8 471.0 300.6
(i)Local sales - - - 564.4 471.0 300.6
(ii)Export sales - - - 5.4 0.0 0.0
2.Cost of Sales - - - 556.2 506.7 329.7
3.Gross profit - - - 13.6 -35.7 -29.1
5.Operating profit - - - 6.7 -33.8 47.7
7.Net profit before tax (D5-D6) - - - -36.8 -63.7 10.2
8.Tax provision - - - 2.9 2.4 0.0
2.Retention in business (D7-D8-D9) - - - -39.7 -66.1 10.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - -10.8 -37.6 477.8
5.Return on assets (D7 as % of C4) - - - -7.3 -11.9 2.1
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - - - 11.8 -18.6 -8.7
15.Return on Equity (D7 as % of A3) - - - -223.0 0.0 0.0
3.Net profit margin (D7 as % of D1) - - - -6.5 -13.5 3.4
4.Earning per share before tax (D7/No. of ordinary shares) - - - -2.6 -4.6 0.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - - -2.8 -4.7 0.7
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - -360.0 -560.0 -30.0
10.Break-up value of ordinary shares (in rupees) - - - 1.2 -1.9 -0.9
154
Shahtaj Textile Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 385.0 408.4 388.8 303.9 319.0 272.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.4 28.5 6.0 11.5 15.3 35.2
(i)Cash 5.4 28.5 6.0 11.5 15.3 35.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 77.0 127.4 136.1 130.4 153.0 184.0
C.Fixed Assets:
4.Total assets (B4+C2) 813.2 1169.2 1112.3 1221.9 1286.3 1505.3
D.Operation:
1.Gross sales 813.2 1111.9 1195.9 1568.3 1752.6 1984.1
(i)Local sales 500.2 861.9 663.4 307.8 106.2 178.6
(ii)Export sales 313.0 250.0 532.5 1260.5 1646.4 1805.5
2.Cost of Sales 743.1 1050.1 1126.6 1402.0 1592.4 1854.9
3.Gross profit 70.1 61.8 69.3 166.3 160.2 129.2
8.Tax provision 5.6 5.8 5.5 8.3 9.9 12.1
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 315.9 203.9 -72.4 -106.7 141.2 7.8
2.Retention in business (D7-D8-D9) 29.7 2.3 -8.4 29.7 28.6 3.6
3.Finance from outside the company (E1-E2) 286.2 201.6 -64.0 -136.4 112.6 4.2
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 396.8 263.8 -15.4 -32.7 216.9 78.3
7.Cash flow ratio F1 as % of F2 27.9 23.6 - -317.1 48.1 94.6
1.Dividend cover ratio [(D7 - D8) as % of D9] - 118.7 -33.3 253.9 0.0 0.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 3.5 1.7 -0.2 5.1 3.0 0.4
155
Shahzad Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 195.1 366.8 371.9 300.9 300.9 369.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 48.3 18.9 37.4 11.1 11.1 17.9
(i)Cash 34.9 10.1 2.3 2.9 2.9 4.5
(ii)Investments 13.4 8.8 35.1 8.2 8.2 13.4
3.Inventories 43.9 101.6 97.6 103.2 103.2 145.6
C.Fixed Assets:
4.Total assets (B4+C2) 900.9 865.1 940.4 1052.5 1052.5 1146.8
D.Operation:
1.Gross sales 771.8 906.6 743.0 921.0 921.0 1206.3
(i)Local sales 496.3 518.3 450.4 694.3 694.3 840.6
(ii)Export sales 275.5 388.3 292.6 226.7 226.7 365.7
2.Cost of Sales 723.6 837.2 679.2 815.7 815.7 1154.3
3.Gross profit 48.2 69.4 63.8 105.3 105.3 52.0
8.Tax provision 5.8 4.5 3.5 4.6 4.6 6.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -23.1 -36.3 42.5 -21.7 0.0 31.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - - 7.8 -112.9 0.0 -6.1
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -152.6 -260.0 -68.8 320.0 0.0 -85.7
156
Shams Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 234.4 424.0 455.8 417.0 555.5 424.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 71.9 258.8 283.4 218.4 0.2 14.0
(i)Cash 6.3 98.3 8.4 13.7 0.2 14.0
(ii)Investments 65.6 160.5 275.0 204.7 0.0 0.0
3.Inventories 93.1 97.4 123.0 142.7 211.9 346.2
C.Fixed Assets:
4.Total assets (B4+C2) 651.8 1006.4 1098.7 1660.0 1874.5 1736.7
D.Operation:
1.Gross sales 990.2 1327.1 1109.3 1559.6 2206.7 2316.5
(i)Local sales 889.1 1122.5 1017.1 1360.6 1661.1 1912.1
(ii)Export sales 101.1 204.6 92.2 199.0 545.6 404.4
2.Cost of Sales 913.3 1221.7 978.6 1411.7 2093.7 2205.8
3.Gross profit 76.9 105.4 130.7 147.9 113.0 110.7
8.Tax provision 5.6 6.8 5.3 8.6 11.3 11.7
F.Cash Flow Data
157
Sind Fine Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -58.4 -89.3 -36.3 -46.0 -46.1 -47.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 16.2 -33.2 3.8 -11.7 -11.8 -13.3
B.Liquidity:
1.Liquid Assets: 10.5 7.8 0.6 0.2 0.2 0.2
(i)Cash 10.5 7.8 0.6 0.2 0.2 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 1.7 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 128.7 81.5 34.1 6.3 6.2 2.9
D.Operation:
1.Gross sales 218.5 0.0 0.0 0.0 0.0 0.0
(i)Local sales 139.8 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 78.7 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 218.5 0.0 0.0 0.0 0.0 0.0
7.Net profit before tax (D5-D6) 194.6 -28.3 15.0 -9.2 -0.2 -1.4
8.Tax provision 1.1 0.0 0.2 0.2 0.1 0.1
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -49.5 -49.4 37.0 -15.5 -0.1 -1.5
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -42.6 -43.9 39.2 -15.3 0.1 -1.3
5.Return on assets (D7 as % of C4) 151.2 -34.7 44.0 -146.0 -3.2 -48.3
10.Financial expenses as % of operating profit (D6 as % of D5) 5.4 - 6.8 -7.0 0.0 0.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 0.6 - 1.3 -2.2 -50.0 -7.1
3.Net profit margin (D7 as % of D1) 89.1 - - 0.0 0.0 0.0
4.Earning per share before tax (D7/No. of ordinary shares) 56.7 -8.3 4.4 -2.7 -0.1 -0.4
158
Sunrays Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 282.6 333.6 392.6 355.6 0.0 346.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 40.2 7.6 47.5 39.4 17.4 27.6
(i)Cash 40.2 7.6 45.2 37.1 15.1 25.3
(ii)Investments 0.0 0.0 2.3 2.3 2.3 2.3
3.Inventories 166.4 179.4 493.7 381.3 400.5 937.9
C.Fixed Assets:
4.Total assets (B4+C2) 716.9 865.5 1324.7 1368.8 1560.0 2096.9
D.Operation:
1.Gross sales 827.0 1226.1 1000.5 1626.9 1704.4 1902.1
(i)Local sales 370.4 492.3 458.2 1433.3 1338.9 1658.4
(ii)Export sales 456.6 733.8 542.3 193.6 365.5 243.7
2.Cost of Sales 699.2 1102.9 838.1 1488.1 1572.2 1723.3
3.Gross profit 127.8 123.2 162.4 138.8 132.2 178.8
8.Tax provision 6.6 14.8 7.0 8.1 0.2 9.5
F.Cash Flow Data
159
Sunshine Cotton Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -190.5 -190.5 -190.5 -190.5 -190.5 -190.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.2 0.2 0.2 0.2 0.2 0.2
(i)Cash 0.2 0.2 0.2 0.2 0.2 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 129.8 129.8 129.8 129.8 129.8 129.8
D.Operation:
1.Gross sales 106.7 106.7 106.7 106.7 106.7 106.7
(i)Local sales 106.7 106.7 106.7 106.7 106.7 106.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 120.7 120.7 120.7 120.7 120.7 120.7
3.Gross profit -14.0 -14.0 -14.0 -14.0 -14.0 -14.0
8.Tax provision 0.5 0.5 0.5 0.5 0.5 0.5
F.Cash Flow Data
160
Suraj Cotton Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 641.1 762.8 956.9 957.8 1185.8 1225.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 89.4 213.0 310.2 246.0 379.2 10.9
(i)Cash 30.5 57.2 55.2 53.7 372.1 5.7
(ii)Investments 58.9 155.8 255.0 192.3 7.1 5.2
3.Inventories 472.0 171.9 473.0 367.3 404.4 886.0
C.Fixed Assets:
4.Total assets (B4+C2) 1973.5 2518.6 2636.5 3438.6 3580.0 3708.4
D.Operation:
1.Gross sales 2144.0 3389.6 2608.0 3721.7 4128.2 4130.3
(i)Local sales 1894.5 2931.5 1973.2 2435.8 2804.0 2962.9
(ii)Export sales 249.5 458.1 634.8 1285.9 1324.2 1167.4
2.Cost of Sales 1896.9 3153.8 2300.1 3301.1 3701.9 3728.4
3.Gross profit 247.1 235.8 307.9 420.6 426.3 401.9
8.Tax provision 10.8 15.4 15.0 19.3 21.0 20.8
F.Cash Flow Data
161
Taha Spinning Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 110.2 110.6 107.8 121.4 71.2 38.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.6 2.6 2.1 3.3 3.2 5.9
(i)Cash 5.2 2.2 2.1 2.9 3.2 5.9
(ii)Investments 0.4 0.4 0.0 0.4 0.0 0.0
3.Inventories 97.9 119.9 170.7 166.7 119.3 27.8
C.Fixed Assets:
4.Total assets (B4+C2) 248.0 301.9 375.0 415.2 413.3 447.4
D.Operation:
1.Gross sales 284.4 260.3 155.0 478.1 416.3 231.2
(i)Local sales 268.1 247.1 132.4 292.8 323.0 228.8
(ii)Export sales 16.3 13.2 22.6 185.3 93.3 2.4
2.Cost of Sales 274.1 254.1 149.2 426.8 390.1 230.5
3.Gross profit 10.3 6.2 5.8 51.3 26.2 0.7
8.Tax provision 1.4 1.3 0.7 2.8 2.1 1.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -1.2 6.5 8.2 112.8 13.4 -39.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -113.8 50.0 133.3 185.7 -202.5 92.7
162
Taj Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 20.6 -130.2 -446.3 -644.7 -644.7 -948.5
3.Shareholder's Equity (A1+A2) 355.0 204.2 -111.9 -310.3 -310.3 -614.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 11.8 10.7 14.9 14.7 14.7 10.3
(i)Cash 6.3 1.8 9.8 10.3 10.3 7.2
(ii)Investments 5.5 8.9 5.1 4.4 4.4 3.1
3.Inventories 286.3 350.6 299.2 224.6 224.6 114.0
C.Fixed Assets:
4.Total assets (B4+C2) 1994.3 1987.9 1719.3 1491.5 1491.5 1231.7
D.Operation:
1.Gross sales 1292.6 1388.5 1037.2 1189.5 1189.5 43.7
(i)Local sales 1132.8 1348.9 980.8 1180.6 1180.6 43.7
(ii)Export sales 159.8 39.6 56.4 8.9 8.9 0.0
2.Cost of Sales 1318.3 1433.3 1069.6 1258.8 1258.8 56.4
3.Gross profit -25.7 -44.8 -32.4 -69.3 -69.3 -12.7
8.Tax provision 6.5 6.8 5.4 5.9 5.9 0.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -240.3 -375.3 - 102.9 0.0 8.1
7.Cash flow ratio F1 as % of F2 -240.3 -64.2 - 104.6 -173.0 -3.2
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 106.2 61.1 -33.5 -92.8 -92.8 -183.6
15.Return on Equity (D7 as % of A3) -51.4 -91.9 - 0.0 0.0 0.0
10.Break-up value of ordinary shares (in rupees) 10.6 6.1 -3.3 -9.3 -9.3 -18.4
163
Tata Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 336.8 358.5 406.1 432.8 428.6 1273.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 13.1 4.3 81.4 15.8 133.0 55.6
(i)Cash 13.1 4.3 78.1 14.4 133.0 55.6
(ii)Investments 0.0 0.0 3.3 1.4 0.0 0.0
3.Inventories 147.1 253.2 656.6 755.3 775.9 1421.8
7.Net Current Assets(B4-B5) 13.7 -11.2 6.4 -142.4 94.3 -31.8
C.Fixed Assets:
4.Total assets (B4+C2) 827.0 1350.5 2438.7 2555.7 2608.6 4142.3
D.Operation:
1.Gross sales 851.2 1222.8 1129.9 2124.0 2382.0 2415.4
(i)Local sales 189.2 299.8 155.8 526.4 524.9 398.8
(ii)Export sales 662.0 923.0 974.1 1597.6 1857.1 2016.6
2.Cost of Sales 711.9 1076.6 912.3 1754.0 1949.3 1990.6
3.Gross profit 139.3 146.2 217.6 370.0 432.7 424.8
8.Tax provision 10.1 15.9 11.2 27.0 32.2 19.1
F.Cash Flow Data
164
The Crescent Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1908.9 2079.2 2246.7 2055.1 4182.3 3591.6
5.Debentures 0.0 0.0 499.9 399.9 0.0 200.0
B.Liquidity:
1.Liquid Assets: 737.4 948.2 886.5 1193.8 1127.6 1162.9
(i)Cash 20.7 32.2 35.7 40.6 7.4 8.6
(ii)Investments 716.7 916.0 850.8 1153.2 1120.2 1154.3
3.Inventories 711.2 3674.8 1172.3 962.7 978.3 1240.7
C.Fixed Assets:
4.Total assets (B4+C2) 5989.1 6849.8 7220.6 7131.8 10251.1 10851.9
D.Operation:
1.Gross sales 4742.7 5723.7 4298.1 5097.6 5591.6 8861.4
(i)Local sales 1594.7 1917.1 1272.7 1950.3 1998.1 2353.6
(ii)Export sales 3148.0 3806.6 3025.4 3147.3 3593.5 6507.8
2.Cost of Sales 4150.6 5224.0 3757.4 4573.3 5062.3 8027.5
3.Gross profit 592.1 499.7 540.7 524.3 529.3 833.9
7.Net profit before tax (D5-D6) 197.6 98.3 126.5 -17.1 117.1 -11.2
8.Tax provision 53.5 43.3 37.9 41.6 48.8 59.4
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 3.3 1.4 1.8 -0.2 1.1 -0.1
15.Return on Equity (D7 as % of A3) 8.5 4.0 4.8 -0.7 2.5 -0.3
3.Net profit margin (D7 as % of D1) 4.2 1.7 2.9 -0.3 2.1 -0.1
4.Earning per share before tax (D7/No. of ordinary shares) 4.9 2.4 3.1 -0.4 2.6 -0.2
165
Towellers Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 528.2 546.3 549.0 504.4 809.1 831.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 49.2 121.0 68.8 91.9 69.2 44.4
(i)Cash 49.2 121.0 68.8 91.9 69.2 44.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 328.0 366.7 584.2 597.5 867.9 1089.5
C.Fixed Assets:
4.Total assets (B4+C2) 1421.0 1461.2 2118.9 2333.5 3232.9 3524.8
D.Operation:
1.Gross sales 2165.6 2001.8 1371.2 2246.5 2358.3 3626.6
(i)Local sales 32.1 68.8 54.1 91.8 27.8 64.2
(ii)Export sales 2133.5 1933.0 1317.1 2154.7 2330.5 3562.4
2.Cost of Sales 1950.0 1835.9 1157.5 1921.0 1926.9 3084.5
3.Gross profit 215.6 165.9 213.7 325.5 431.4 542.1
8.Tax provision 15.0 14.8 9.8 20.4 22.7 33.5
F.Cash Flow Data
166
Usman Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 127.6 127.6 127.6 42.0 45.9 56.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 10.0 10.0 10.0 0.0 98.2 18.0
(i)Cash 9.9 9.9 9.9 0.0 0.0 0.0
(ii)Investments 0.1 0.1 0.1 0.0 98.2 18.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
9.Net liquid assets (B1-B5) -57.4 -57.4 -57.4 -19.9 74.1 -11.2
C.Fixed Assets:
4.Total assets (B4+C2) 232.3 232.3 232.3 99.2 107.2 122.4
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 4.5 2.9 4.6
F.Cash Flow Data
167
Yousaf Weaving Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -79.6 -139.5 -254.7 -231.0 -222.2 -233.0
3.Shareholder's Equity (A1+A2) 102.1 42.2 -73.0 169.0 177.8 167.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 335.3 254.6 -21.1 312.2 347.7 369.0
B.Liquidity:
1.Liquid Assets: 160.4 115.8 89.2 50.8 117.2 3.8
(i)Cash 152.4 115.8 89.2 50.8 117.2 3.8
(ii)Investments 8.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 60.1 115.7 69.9 113.7 147.3 177.8
C.Fixed Assets:
4.Total assets (B4+C2) 931.0 989.0 719.6 956.7 1178.9 1306.1
D.Operation:
1.Gross sales 1361.2 1683.3 928.3 1179.2 1573.8 1972.8
(i)Local sales 804.9 913.1 484.3 951.3 784.6 946.8
(ii)Export sales 556.3 770.2 444.0 227.9 789.2 1026.0
2.Cost of Sales 1299.6 1601.3 930.6 1054.4 1442.4 1797.2
3.Gross profit 61.6 82.0 -2.3 124.8 131.4 175.6
5.Operating profit 14.4 -30.3 -65.0 62.1 48.2 63.8
8.Tax provision 7.4 8.9 6.7 5.9 9.8 10.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 0.4 -21.3 -65.2 19.2 76.0 52.1
6.Self financing ratio (E2 as % of E1) -375.2 - - -9.2 -6.2 -44.6
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 56.2 23.2 -40.2 42.3 44.5 41.8
10.Financial expenses as % of operating profit (D6 as % of D5) 395.1 - - 36.4 84.2 98.9
15.Return on Equity (D7 as % of A3) -41.6 -167.3 - 23.4 4.3 0.4
10.Break-up value of ordinary shares (in rupees) 5.6 2.3 -4.0 4.2 4.4 4.2
168
Zahidjee Textile Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 146.6 143.0 170.5 234.3 851.1 478.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.8 7.5 123.2 180.3 221.5 150.8
(i)Cash 2.8 7.5 10.4 11.0 141.5 9.2
(ii)Investments 0.0 0.0 112.8 169.3 80.0 141.6
3.Inventories 22.6 30.7 62.7 59.8 578.3 695.6
C.Fixed Assets:
4.Total assets (B4+C2) 398.7 435.1 590.5 638.7 2521.7 3005.9
D.Operation:
1.Gross sales 511.0 675.7 480.6 605.4 2772.6 1960.5
(i)Local sales 511.0 675.7 476.0 603.0 1834.2 1119.2
(ii)Export sales 0.0 0.0 4.6 2.4 938.4 841.3
2.Cost of Sales 498.3 661.1 455.5 567.6 2543.1 1794.1
3.Gross profit 12.7 14.6 25.1 37.8 229.5 166.4
7.Net profit before tax (D5-D6) -5.4 6.6 11.4 4.3 149.0 -41.0
8.Tax provision 2.7 3.0 0.4 0.1 11.6 9.8
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -1.4 1.5 1.9 0.7 5.9 -1.4
6.Self financing ratio (E2 as % of E1) -15.4 15.4 62.5 -13.2 19.5 -126.4
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 45.5 3.5 2.3 7.8 -23.9
15.Return on Equity (D7 as % of A3) -2.1 2.6 4.1 1.2 15.5 -5.0
3.Net profit margin (D7 as % of D1) -1.1 1.0 2.4 0.7 5.4 -2.1
4.Earning per share before tax (D7/No. of ordinary shares) -0.5 0.6 1.0 0.4 13.5 -1.2
169
Zahur Cotton Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -128.6 -157.2 -131.1 -151.6 -176.8 -176.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.7 0.5 0.2 0.1 0.2 0.2
(i)Cash 1.7 0.5 0.2 0.1 0.2 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 3.1 3.2 5.0 2.9 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 269.7 257.0 154.0 145.4 114.6 114.6
D.Operation:
1.Gross sales 63.1 50.0 34.1 35.0 9.2 9.2
(i)Local sales 63.1 50.0 34.1 35.0 9.2 9.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 68.4 64.3 39.5 49.3 23.6 23.6
3.Gross profit -5.3 -14.3 -5.4 -14.3 -14.4 -14.4
8.Tax provision 0.3 0.2 0.2 0.0 0.1 0.1
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 8.1 -35.4 -121.8 -40.7 -30.2 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 1.6 -17.1 -106.1 -18.8 -16.7 -16.7
2.Depreciation for the year plus changes in capital employed (C3+E1) 20.4 -23.0 -117.0 -34.2 -21.7 8.5
6.Self financing ratio (E2 as % of E1) -132.1 - - 62.2 83.4 0.0
7.Cash flow ratio F1 as % of F2 7.8 - - 55.0 77.0 -196.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 33.7 -20.8 -31.8 2.6 -73.7 0.0
170
Zephyr Textiles Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
1.Ordinary Share Capital - - 474.3 594.3 594.3 594.3
2.Surplus - - 23.6 56.4 59.0 204.3
3.Shareholder's Equity (A1+A2) - - 497.9 650.7 653.3 798.6
4.Prefrence Shares - - 0.0 0.0 0.0 0.0
5.Debentures - - 0.0 0.0 0.0 0.0
6.Other Fixed Laibilities - - 468.8 755.9 721.3 683.1
7.Total Fixed Laibilities (A4+A5+A6) - - 468.8 755.9 721.3 683.1
8.Total Capital Employed (A3+A7) - - 966.7 1406.6 1374.6 1481.7
B.Liquidity:
1.Liquid Assets: - - 103.4 67.4 59.8 16.7
(i)Cash - - 103.4 35.5 59.8 2.5
(ii)Investments - - 0.0 31.9 0.0 14.2
2.Other Current Assets - - 395.7 483.6 660.5 581.9
3.Inventories - - 207.7 391.5 587.9 672.8
4.Current Assets (B1+B2+B3) - - 706.8 942.5 1308.2 1271.4
5.Current Liabilities - - 766.8 1158.1 1686.0 2065.0
6.Total Liabilities(A7+B5) - - 1235.6 1914.0 2407.3 2748.1
7.Net Current Assets(B4-B5) - - -60.0 -215.6 -377.8 -793.6
8.Contractual Liabilities - - 1147.6 1710.1 1933.0 2270.1
9.Net liquid assets (B1-B5) - - -663.4 -1090.7 -1626.2 -2048.3
C.Fixed Assets:
1.Fixed Asset At Cost - - 362.0 1732.0 1966.9 1977.3
2.Fixed assets after deducting accumulated depreciation - - 1026.6 1622.1 1752.4 2275.2
3.Depreciation for the year - - 27.8 74.1 143.0 368.7
4.Total assets (B4+C2) - - 1733.4 2564.6 3060.6 3546.6
D.Operation:
1.Gross sales - - 1054.1 1564.1 2712.7 2634.6
(i)Local sales - - 498.8 605.5 1451.9 1830.0
(ii)Export sales - - 555.3 958.6 1260.8 804.6
2.Cost of Sales - - 939.5 1348.2 2435.6 2393.3
3.Gross profit - - 114.6 215.9 277.1 241.3
4.Overhead and Other Expenses - - 987.9 1402.1 2519.2 2493.8
5.Operating profit - - 67.1 164.3 214.1 156.3
6.Financial expenses - - 36.9 108.9 197.9 346.1
7.Net profit before tax (D5-D6) - - 30.2 55.4 16.2 -189.8
8.Tax provision - - 5.5 9.3 13.6 13.2
9.Total amount of dividend - - 0.0 0.0 0.0 0.0
10.Total value of bonus shares issued - - 15.0 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - 439.9 -32.0 107.1
2.Retention in business (D7-D8-D9) - - 24.7 46.1 2.6 -203.0
3.Finance from outside the company (E1-E2) - - - 393.8 -34.6 310.1
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - 52.5 120.2 145.6 165.7
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - 514.0 111.0 475.8
2.Current ratio (B4 as % of B5) - - 92.2 81.4 77.6 61.6
3.Acid test or Quick ratio (B4-B3 as % B5) - - 65.1 47.6 42.7 29.0
5.Return on assets (D7 as % of C4) - - 1.7 2.2 0.5 -5.4
6.Self financing ratio (E2 as % of E1) - - 0.0 10.5 -8.1 -189.5
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - - 105.0 109.5 109.9 134.4
12.Financial expenses as % of contractual liabilities (D6 as % B8) - - 3.2 6.4 10.2 15.2
15.Return on Equity (D7 as % of A3) - - 6.1 8.5 2.5 -23.8
3.Net profit margin (D7 as % of D1) - - 2.9 3.5 0.6 -7.2
4.Earning per share before tax (D7/No. of ordinary shares) - - 0.6 0.9 0.3 -3.2
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - 0.5 0.8 0.0 -3.4
6.Average annual % depreciation on written down fixed assets - - 7.3 7.2 8.8 21.0
7.Sales as % of total assets (D1 as % of C4) - - 60.8 61.0 88.6 74.3
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - -40.0 50.0 -66.7 -1166.7
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - 48.4 73.4 -2.9
10.Break-up value of ordinary shares (in rupees) - - 10.5 10.9 11.0 13.4
171
(Colony) Sarhad Textile Mills Ltd.
125-Murree Road, Rawalpindi.
Management Banker Auditor
Mr. Sohail Farooq Shaikh(Chairman/Chief Exec. MCB Bank Ltd. M/s. Awais Hyder Liaqat Nauman
Mr. Farrukh Haroon Rashid(Director) United Bank Ltd.
Miss. Nazifa Khaliq(Director)
Mrs. Nadia Shaikh(Director)
Mr. Shahid Aziz (NIT)(Director)
Miss. Surriya Shaikh(Director)
Mrs. Neelum Suhail Shaikh(Director)
Date of Annual General Meeting 29th November , 2008 Face Value Rs. 10.00
Year Ending : 30th June , 2008 Market Price as on 30/06/2008 Rs. 3.90
Percentage Dividend rate : Highest Price in 2008 Rs. 4.45
Ordinary Shares (%) Lowest Price in 2008 Rs. 1.60
Ordinary Shares Bonus (%) Average Price in 2008 Rs. 2.63
Preference Shares(%) Investment Yield%
Production Desc Units Capacity Actual Production

Yarn Kgs. 3500000 -
(Colony) Thal Textile Mills Ltd.

7/1, Mian Shami Road, Lahore Cantt.
Mrs. Ayesha Tanveer(Chairperson) MCB Bank Ltd. M/s. Sarwars & Co.
Mr. Tanveer A.Shaikh(Chief Executive) Habib Bank Ltd.
Mr. Muhammad Taimur Tanveer(Director)
Mr. Ahmed Shaikh(Director)
Miss. Beenish Elahi(Director)
Mr. Sardar Muhammad Nawaz(Director)
Mr. Hadayat Ali Shar(Director)
Date of Annual General Meeting 31st October , 2008 Face Value Rs. 10.00

Yarn Kgs 6651742 5782978
172
Accord Textiles Ltd.
47-A Main Gulberg, Lahore
Mr. Haider Ali(Chairman / C.E.O.) Habib Bank Ltd. M/s. M. Hussain Chaudhury & Co.
Mr. Hammmad Raza Khan(Director) National Bank Of Pakistan
Mrs. Farnaz Haider(Director) NIB Bank Ltd.
Mr. Imran Iftikhar(Director) Standard Chartered Bank Ltd.
Mr. Asghar Ali(Director)
Mr. Raheem Azeem(Director)
Mrs. Azra Ahmed(Director)

Yarn Kgs - 2794902
Adil Textile Mills Ltd.

Adil House No. 53-K, Gulberg-III, Lahore.
Mr. Adil Mahmood((Chief Executive)) MCB Bank Ltd M/s. Mushtaq & Co.
Mr. Zulfiqar Ali(Director) National Bank Of Pakistan
Ms. Nusrat Shaheen(Director)
Mr. Aqeel Ahmad(Director)
Mr. Rizwan Hameed(Director)
Mr. Shahid Qureshi(Director)
Mr. Saqib Maqsood(Director)

Yarn Kgs. 5900609 192487
173
Ahmed Hassan Textile Mills Ltd.
46-Hassan Parwana Colony, Multan.
Mian Mohammad Javed Anwar(Chairman) United Bank Limited M/s. M. Yousuf Adil Saleem & Co.
Mian Mohammad Parvez(Chief Executive) Faysal Bank Ltd.
Mr. Muhammad Aurangzeb(Director) Bank Al-Habib Ltd.
Mrs. Salma Javed(Director) Habib Bank Ltd.
Mrs. Waheeda Parvez(Director) Muslim Commercial Bank Ltd.
Mr. Mohammad Haris(Director) Allied Bank Ltd.
Mr. Syed Raza Abbas Jafferi (NIT)(Director) Meezan Bank Ltd.
Date of Annual General Meeting 30th October , 2008 Face Value Rs. 10.00

Yarn Kgs. 12593223 12471776
Fabric Th. Sq. Meters 37696 35516
Al-Azhar Textile Mills Ltd.

Chak 7-B.C, 10-K.M., Hasilpur Road, Bahawalpur.
Mirza Muhammad Nasir Baig(Chairman/C.E.) National Bank Of Pakistan M/s. Akhtar Mehmood Mian (C.A.)
Mirza Muhammad Umar Baig(Director) Allied Bank Of Pakistan Ltd.
Mrza Muhammad Jahanzeb Baig(Director) Bank Al-Habib Ltd.
Mrs. Fahmida Begum(Director) Habib Metropolitan Bank Ltd.
Mrs. Saung Hee Shin(Director)
Mirza Muhammad Asber Baig(Director)
Mrs. Rafiqan Begum(Director)
Date of Annual General Meeting 31st March , 2009 Face Value Rs. 10.00

yarn kgs 6539778 5523642
174
Al-Qadir Textile Mills Ltd.
Raja House, Near Makki Masjid, Chakwal.
Mr. Ghulam Ali Raja(Chairman/C.E.) Bank Alfalah Ltd. M/s Nasir Javaid Maqsood Imran (C.A.)
Mr. Asif Ali Raja(Director)
Mst. Asbah Rubina(Director)
Mr. Faisal Bashir Raja(Director)
Mst. Tasneem Akhtar(Director)
Mst. Yasmeen Begum(Director)
Mr. Muhammad Bashir Raja(Director)

Yarn Kgs. 11235420 10891815
Al-Qaim Textile Mills Ltd.

Awan House, Faisal Colony, Talagang Road, Chakwal.
Mr. Muhammad Ali Awan(Chief Executive) Muslim Commercial Bank Ltd. M/s. Ebrahim & Co.
Haji Ghulam Hussain(Director) National Bank Of Pakistan
Haji Shaukat Mehmood Awan(Director) Habib Bank Ltd.
Ch. Nazar Hussain(Director)
Mr. Naeem Mustafa Awan(Director)
Mst. Anayat Begum(Director)
Mst. Naseem Begum(Director)
Date of Annual General Meeting Face Value Rs. 10.00


Yarn Kgs. 4470000
Note: Failed to hold AGM and defaulter
to SECP
175
Ali Asghar Textile Mills Ltd.
306-308, Uni Tower, I.I.Chundrigar Road, Karachi.
Mr. Nadeem Ellahi Shaikh(Chief Executive) Habib Bank Ltd. M/s. Mushtaq & Co.
Mr. Muhammad Azad Khan(Director) Habib Metropolitan Bank Limited
Mr. Sultan Mehmood(Director) Natioanl Bank of Paksitan
Mst. Marium Humayun(Director)
Mr. Abdul Aziz(Director)
Mr. Naveed Ellahi Shaikh(Director)
Mr. Salman Masood(Director)

yarn Kgs. 8116941 8634616
Allawasaya Textile & Finishing Mills Ltd.

Mumtazabad Industrial Area, Allawasaya Square, Vehari Road, Multan.
Mian Mohammad Jamil(Chairman) Habib Metorpolitan Bank Ltd. M/s. M. Yousuf Adil Saleem & Co.
Mian Tanvir Ahmad Sheikh(Chief Executive) Allied Bank Limited
Mrs. Nusrat Jamil(Director) Bank Al-Habib Ltd.
Mian Mohammad Bilal Ahmad Sheikh(Director) Habib Bank Ltd.
Mian Tauqir Ahmad Sheikh(Director) United Bank Ltd.
Mian Mohammad Alamgir Jamil Khan(Director)
Mian Anis Ahmad Sheikh(Director)

yarn Kgs. 12990815 10777391
176
Amin Spinning Mills Ltd.
24/D-1, Industrial Estate Mirpur, Azad Kashmir.
Chaudhry Muhammad Saeed(Chief Executive) National Bank Of Pakistan M. Hussain Chaudhury & Co.
Chaudhry Muhammad Shaukat(Director) Habib Bank Ltd.
Chaudhry Abid Hussain(Director) Faysal Bank Ltd.
Chaudhry Azhar Sadiq(Director)
Haji Mohammad Salim(Director)
Chaudhry Irfan Younas(Director)
Chaudhry Muhammad Euseff(Director)

yarn Kgs. - 4264927
Annoor Textile Mills Ltd.

901, 9th Floor, Business Plaza, Mumtaz Hassan Road, Karachi.
Mr. Mohammad Ibrahim(Chairman) Habib Metorpolitan Bank Ltd. M/s. Rehman Sarfraz Rahim Iqbal Rafiq
Mr. Farooq Ibrahim(Chief Executive)
Mr. Abdul Qadir(Director)
Mr. Muhammad Arshad(Director)
Mr. Mohammad Irshad(Director)
Mr. Mohammad Anees(Director)
Mr. Mohammad Arif(Director)

yarn Lbs. - -
177
Apollo Textile Mills Ltd.
Suite No. 323, The Forum G-20, Khayaban-e-Jami, Block-9, Clifton, Karachi.
Mr. Ikram Zahur(Chief Executive) Habib Metropolitan Bank Limited M/s. A.R.Khan & Co.
Mr. Muhammad Razzak(Director) Bank Of Punjab
Mr. Inam Gul(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Riaz Hussain(Director) Soneri Bank Ltd
Mr. Muhammad Liaquat(Director) National Bank Of Pakistan
Mr. Muhammad Tahir Khan(Director) Sadui Pak Commercial Bank Ltd.
Mr. Abdul Rehman Zahur(Director) MCB Bank Ltd.
Date of Annual General Meeting 16th April , 2009 Face Value Rs. 10.00
Ordinary Shares (%) 5 Lowest Price in 2008 Rs. 19.15
Preference Shares(%) Investment Yield% 2

Yarn Kgs 33802050 22227300
Artistic Denim Mills Ltd.

Plot No. 5-9, 23-26, Sector 16, Korangi Industrial Area, Karachi.
Mr. Muhammed Faisal Ahmed(Chief Executive) Allied Bank Of Pakistan Ltd. M/s. Ford, Rhodes, Sidat Hyder & Co.
Mrs. Maliha Faisal(Chairperson) Bank Al Habib Ltd.
Mr. Muhammad Ali Ahmed(Director) Faysal Bank Ltd
Mr. Iqbal-ur-Rahim(Director) Natioanl Bank of Paksitan
Mr. Muhammed Yousuf Ahmed(Director) Habib Metorpolitan Bank Ltd.
Mr. Muhammad Ali Halari(Director)
Mrs Hajra Ahmed(Director)

Yarn Lbs. 26373500 20374358
Fabric Meters 21727000 15396167
178
Aruj Garment Accessories Ltd.
Aruj House, 2-KM, Off Raiwind-Manga Road, Raiwind, Lahore.
Mr. Maqsood Ahmed Butt(Chief Executive) Habib Bank Ltd. M/s. Qadeer & Co.
Dr. Mrs. Naseem Maqsood(Director) Bank Al-Habib Ltd.
Mrs. Rabia Butt(Director) Bank Alfalah Ltd.
Mrs. Naheed Muneer(Director) Faysal Bank Ltd.
Ms. Aruj Butt(Director)
Mr. Ali Maqsood Butt(Director)
Sheikh Ghulam Mustafa(Director)

Woven Meters 14040000 12535809
Nonwoven Meters 12168000 4228200
Ashfaq Textile Mills Ltd.

B-A/1, Officer Colony, Susan Road, Faisalabad.
Mr. Ashfaq Ahmed(Chairman/Chief Exec.) United Bank Ltd. M/s. Avais Hyder Liaqat Nauman
Mr. Waseem Ashfaq(Director) Prime Commercial Bank Ltd.
Khawaja Muhammad Ilyas(Director) Habib Bank Ltd.
Mirza Muhammad Idrees(Director)
Mrs. Shazia Amjad(Director)
Mr. Nadeem Ashfaq(Director)
Mr. Amjad Aslam(Director)

Yarn Kgs 1740000 1431121
Fabric Sq. meters 26000000 15475483
179
Asim Textile Mills Ltd.
16 - C, Peoples Colony, Faisalabad.
Mr. Zahid Anwar(Chief Executive) National Bank Of Pakistan M/s. Arshad Raheem & Co.
Mrs. Rukhsana Begum(Director) KASB Bank Ltd.
Miss. Noor-ul-Ain Zahid(Director) United Bank Ltd.
Mr. Zeeshan Zahid(Director) Al-Baraka Islamic Investment Bank (Bsc) (E.C.)
Mr. Zia-ullah Khan(Director)
Mr. Umer Farooq(Director)
Ch. Ghulam Murtaza Buttar(Director)

Yarn Kgs. 9586155 9106020
Ayesha Textile Mills Ltd.

97-B Gulberg-II, Lahore.
Mr. Mohammed Rafi(Chairman/ C.E.) National Bank Of Pakistan M/s. Mushtaq & Co.
Mr. Tariq Rafi(Director) Habib Bank Ltd.
Mr. Babar Anwar(Director) Allied Bank Of Pakistan Ltd.
Mr. A.G.K.Lodhi(Director) Bank Al-Habib Ltd.
Mr. Abdullah Rafi(Director) ABN-AMRO Bank (Pakistan) Ltd.
Mr. Anjum Rafi(Director) United Bank Ltd.
Mr. Arif Rafi(Director) Bank Al-Falah Ltd.

Yarn Kgs. 23530747 26535146
180
Azam Textile Mills Ltd.
17-Aziz Avenue, Canal Bank, Gulberg-V, Lahore.
Mr. M. Naseem Saigol(Chairman/Chief Exec.) Meezan Bank Ltd. M/s. Manzoor Hussain Mir & Co.
Mr. Shahid Sethi(Director) Standard Chartered Bank Ltd.
Mr. M. Azam Saigol(Director) The Bank of Punjab
Mr. Muhammad Asif Bajwa(Director) United Bank Ltd.
Mr. Jamal Nasim (NIT)(Director) National Bank Of Pakistan
Mr. Muhammad Athar Rafiq(Director) MCB Bank Ltd
Mr. Saeed Mian Ansari(Director) Faysal Bank Ltd.

Yarn Kgs. 27855360 1957353
Azgard Nine Ltd.(Legler-Nafees Denim Mills Ltd.)

Ismail Aiwan-i-Science, Off. Shahrah-e-Roomi, Lahore.
Mr. Mueen Afzal(Chairman) Citibank Ltd. M/s. Rehman Sarfaraz Rahim Iqbal Rafiq & Co.
Mr. Ahmed H. Sheikh(Chief Executive) The Royal Bank of Scotland Ltd.
Chief Justice (R) Mian Mahboob Ahmad(Director Faysal Bank Ltd.
Mr. Ahsun M. H. Sheikh(Director) JS Bank Ltd.
Mr. Ali Jahangir Siddiqui(Director) M.C.B.
Mr. Khalid A. H. Al-Sagar(Director) Natioanl Bank of Paksitan
Mr. Muhammad Khishgi(Director) Habib Bank Ltd.
Year Ending : 31st December , 2008 Market Price as on 31/12/2008 Rs. 50.30
Ordinary Shares (%) 12.5 Lowest Price in 2008 Rs. 19.85

Spinning Kgs 25118397 21177560
weaving Meters 23608088 14121408
Garments Pieces 7951615 6063532
181
Babri Cotton Mills Ltd.
Habibabad, Kohat
Mr. Raza Kuli Khan Khattak(Chairman/Chief Exe National Bank Of Pakistan M/s Hameed Chaudhri & Co.
Mr. Shamim S. Khan(Director) United Bank Ltd.
Dr. Shaheen Kuli Khan Khattak(Director) Habib Bank Ltd.
Mrs. Zeb Gohar Ayub(Director) Faysal Bank Ltd.
Lt.Gen. (Retd.) Ali Kuli Khan Khattak(Director)
Ch. Sher Muhammad(Director)
Mrs. Shahnaz Sajjad Ahmad(Director)

Yarn Kgs 12633371 18565486
Baig Spinning Mills Ltd.

F-225, Textile Avenue, Street No. 5, S.I.T.E., Karachi.
Dr. Mirza Ikhtiar Baig(Chairman / C.E.O.) Bank Al-Habib Ltd. M/s. Hyder Bhimji & Co.
Mirza Mukhtar Baig(Director) Bank Al-Falah Ltd.
Mrs. Noureen Baig(Director)
Mr. Mohammad Ali Aziz(Director)
Mrs. Parveen Zafar(Director)
Mrs. Nasreen Tahir(Director)
Mr. M. Ishtiaq Baig(Director)

Ring Yarn Kgs 4700000 300000
Aotocoro Yarn Kgs 1225000 98000
182
Bhanero Textile Mills Ltd.
Umer House, 23/1, Sector 23, S.M.Farooq Road, Korangi Industrial Area, Karachi.
Mr. Mohammad Salim(Chief Executive) Citi Bank N. A. M/s. Mushtaq & Co.
Mr. Khurram Salim(Director) Habib Bank Ltd.
Mr. Mohammad Shaheen(Director) Standard Charterd Bank
Mr. Mohammad Shakeel(Director) The Hongkong & Shanghai Banking Corp. Ltd.
Mr. Mohammad Sharif(Director) United Bank Ltd.
Mr. Muhammad Amin(Director) ABN - Amro Bank
Mr. Bilal Sharif(Director) Bank of Punjab

Yarn Kgs 23200746 26346958
Bilal Fibres Ltd.

B-403, 4th Floor, City Tower, Main Boulevard, Gulberg-II, Lahore.
Mian Habib Ullah(Chairman) Meezan Bank Ltd. M/s. Mushtaq and Company
Mr. Naeem Omer(Chief Executive) y
Mian Muhammad Saleem Umer(Director) Saudi Pak Commercial Bank Ltd.
Mr. Khadim Hussain(Director) NIB Bank Ltd.
Mr. Hafeez Ullah(Director)
Mr. Muhammad Zubair(Director)
Mr. Amjad Ali(Director)

yarn Kgs 10660766 12364999
183
Blessed Textiles Ltd.
Umer Chembers 23/1, Sector 23, S.M.Farooq Road, Korangi Industrial Area, Karachi.
Mr. Mohammad Shaheen(Chief Executive) Hongkong & Shanghi Banking Corp. Ltd. Rehman Sarfaraz Rahim Iqbal Rafiq & Co.
Mr. Khurram Salim(Director) Bank of Punjab
Mr. Mohammad Shakeel(Director) MCB Bank Ltd.
Mr. Mohammad Sharif(Director) Bank Al-Habib Ltd.
Mr. Mohammd Salim(Director)
Mr. Muhammad Amin(Director)
Mr. Bilal Sharif(Director)

yarn Kgs 20413000 18229000
fabric Meters 17483076 23892170
Brothers Textile Mills Ltd.

135, Upper Mall, Lahore.
Mian Muhammad Aslam Bashir(Chief Exec. Offic National Bank of Pakistan M/s. Kaleem & Co.
Mrs. Farah Aslam(Director) MCB Bank Ltd.
Mrs. Memoona Idrees(Director) First National Bank Modaraba
Mian Muhammad Furqan Idrees(Director) Bank Alfalah Ltd.
Mian Muhammad Omer Idrees(Director) NIB Bank Ltd.
Mrs. Mehr Omer(Director)
Mr. Muhammad Shakeel (ICP)(Director)

yarn Kgs 5290708 2345191
184
Carvan East Fabrics Ltd.
Plot N. 82, Sector 7-A, Korangi Industrial Area, Karachi.
Mr. Zulfiqar Ahmed(Chairman) Soneri Bank Ltd. Khalid Majid Rehman Sarfraz Rahim Iqbal Rafiq
Mr. Shamim Rizwan(Chief Oper. officer) United Bank Ltd.
Mr. A.F.M.Fateh(Director) Allied Bank Of Pakistan Ltd.
Mr. Rashid Mahmood(Director)
Mr. Ejaz Hussain(Director)
Mr. Nasir Ahmed(Director)
Mr. Asad Ali(Director)

Year Ending : 30th June , 2008 Market Price as on 30/06/2008 Rs. .65
Percentage Dividend rate : Highest Price in 2008 Rs. .65
Ordinary Shares (%) Lowest Price in 2008 Rs. .65
Ordinary Shares Bonus (%) Average Price in 2008 Rs. .65

Note: Failed to hold AGM and
defaulter to SECP
Chakwal Spinning Mills Ltd.

Kashana-e-Yousaf, Khawaja Street, Chakwal.
Khawaja Mohammad Jahangir(Chief Executive) Saudi Pak Commercial Bank Ltd. M/S M. Hussain Chaudhry & Co.
Khawaja Mohammad Tanveer(Director) National Bank Of Pakistan
Khawaja Mohammad Javed(Director) Askari Commercial Bank Limited
Khawaja Mohammad Kaleem(Director) Standard Chartered Bank Ltd.
Khawaja Mohammad Nadeem(Director) Habib Metropolitan Bank Ltd.
Khawaja Mohammad Naveed(Director) KASB Bank Ltd.
Mr. Mohammad Aman(Director)

Yarn Kgs 10610970 9198133
185
Chaudhry Textile Mills Ltd.
50/L, Model Town, Lahore.
Mr. Imtiaz Ahmad Khan(Chairman) Allied Bank Ltd. M/s. Hameed Chaudhry & Co.
Mr. Anwaar Ahmad Khan(Director) Metorpolitan Bank Ltd.
Mr. Aftab Ahmad Khan(Director) United Bank Ltd.
Mr. Junaid Ghani(Director)
Mr. Obaid Ghani(Director)
Mrs. Ayesha Aftab(Director)
Mrs. Reema Anwaar(Director)

Yarn Kgs 328257 209015
Chenab Ltd.
Nishatabad, Faisalabad.
Mian Muhammad Latif(Chief Executive) National Bank Of Pakistan M/s. Avais Hyder Liaquat Nauman
Mian Muhammad Javaid Iqbal(Director) Habib Bank Limited
Mr. Muhammad Naeem(Director) Allied Bank Ltd.
Mr. Muhammad Faisal Latif(Director) Atlas Bank Ltd.
Mr. Muhammad Farhan Latif(Director) Askari Bank Ltd.
Mr. Muhammad Rizwan Latif(Director) Al-Baraka Islamic Bank B.S.C.(E.C.)
Mr. Muhammad Zeeshan Latif(Director) Bank Al-Falah Ltd.

Fabrics Mtrs 9,000,000 6,945,714
Made ups Mtrs 59,000,000 48,705,901
Garments Mtrs 3,500,000 2,614,515
186
Colony Mills Ltd. (Colony Textile Mills Ltd.)
M. Ismail Aiwan-i-Science, Shahrah-e-Jalaluddin Roomi, Ferozepur Road, Lahore.
Mr. Fareed M. Sheikh(Chairman/C.E.) Saudi Pak Commercial Bank Ltd. Naveed Zafar Hussain Jaffery & Co.
Mr. Muhammad Farooq(Director) Soneri Bank Ltd.
Syed Arif Hussain(Director) United Bank Ltd.
Mr. Muhammad Azam Barki(Director) National Bank Of Pakistan
Mr. M. Akram Qureshi(Director) Faysal Bank Ltd.
Malik Sohail Ahmad(Director) The Bank Of Punjab
Mr. Bilal Ahmed Khan Niazi(Director) Habib Bank Ltd.

Yarn Kgs 61406646 59599972
Crescent Fibers Ltd. (Crescent Boards Ltd.)

104, Shadman 1, Lahore-54000
Mr. Khawar Maqbool(Chairman) Natioanl Bank of Paksitan M/s. Mushtaq & Co.
Mr. Imran Maqbool(Chief Executive) MCB Bank Ltd.
Mr. Humayoon Maqbool(Director) Habib Bank Ltd.
Mr. Nadeem Maqbool(Director)
Mr. Riaz Masood(Director)
Mr. Shahid Riaz(Director)
Mr. Iqbal Ismail(Director)

Yarn kgs. 12411703 11395599
187
Crescent Spinning Mills Ltd.
Q-20, Gulberg-III, Lahore
Dr. Sardar Ahmad Khan(Chairman) Allied Bank Of Pakistan Ltd. M/s.. M. Yousuf Adil Saleem & Co.
Mr. Muhammad Javed Amin(Chief Executive) Bolan Bank Ltd.
Mr. Sohail Ahmad Khan(Director) Platinum Commercial Bank Ltd.
Mrs. Farhana Yasmeen Khan(Director) Prime Commercial Bank Ltd.
Mrs. Robina Hilal Akbar(Director) Citibank N.A.
Mr. Gul Nawaz (NIT)(Director) Crescent Investment Bank Ltd.
Mrs. Shahana Javed Amin(Director) Habib Bank Ag.Zurich

Year Ending : 30th June , 2008 Market Price as on 30/06/2008 Rs.

Yarn
defaulter to SECP
D.M. Textile Mills Ltd.

Westridge, Rawalpindi.
Mr. Habib Ullah(Chairman & C.E.) NIB Bank Ltd. M/s. Riaz Ahmed & Co.
Mr. Hussain Ahmed Qureshi(Director) Saudi Pak Commercial Bank Ltd.
Rao Khalid Pervez(Director) The Royal Bank of Scotland Ltd.
Mian Muhammad Saleem Omer(Director) National Bank of Pakistan
Mian Naeem Omer(Director)
Syed Obaid ul Haq(Director)
Mr. Shahid Anwar (NIT)(Director)

Yarn Kgs 10958899 14559268
188
Dar Es Salaam Textile Mills Ltd.
63-B-1, Gulberg-III, Lahore.
Mr. Irfan Nasr(Chairman) Bank Al-Falah Ltd. M/s. Hassan Naeem & Co.
Mr. Faisal Mukhtar(Chief Executive) Standard Chartered Bank ( Pakistan) Ltd.
Ms. Abida Mukhtar(Director) United Bank Ltd.
Mr. Parvez Ashraf(Director) KASB Bank Ltd.
Mr. Zulfiqar Ahmad Malik(Director) The Bank of Punjab
Mrs. Nilofar Mukhtar(Director) Faysal Bank Ltd.
Mr. Firasat Ali (N.I.T)(Director)

Yarn Million Kgs 7824 7223
Data Textiles Ltd.

3-A, Race View Jail Road, Lahore.
Mr. Raheel Akhtar(Chief Executive) Albaraka Islamic Investment Bank B.Sc (E.C) M/S Rafaqat Mansha Mohsin Dossani Masoom &
Mr. Umer Sadik(Director) National Bank Of Pakistan
Mr. Shahid Saleem(Director) NIB Bank Ltd.
Mr. Muhammad Ayub Khan(Director) Royal Bank of Scotland
Mr. Nadeem Zar(Director)
Mr. Asif Rahim Khan(Director)
Mr. Shamim Ahmed Khan(Director)

yarn Kgs
189
Dawood Lawrencepur Tex.Ltd. (Dawod Coton Mills)
35-A, Shahrah-e-Abdul Hameed Bin Badees (Empress Road), Lahore.
Mr. Shahzada Dawood(Chairman) MCB Bank Ltd. M/s. Moochhala Gangat & Co.
Mr. Shafiq Ahmed(Chief Executive) Habib Metropolitan Bank Ltd.
Mr. Aleem A. Dani(Director) Habib Bank Ltd.
Mr. Haroon Mahenti(Director) Mezan Bank Ltd.
Mr. Isar Ahmad(Director) Bank Al-Habib Ltd.
Mr. Shahid H. Paracha(Director)
Mr. S. M. Asghar(Director)
Ordinary Shares Bonus (%) 10 Average Price in 2008 Rs. 115.86

yarn Kgs 25519000 885000
Cloth Sq. meters 5060000 805000
Polyester Yarn Kgs. 1400000 -
Dewan Farooque Spinning Mills Ltd.

Finance & Trade Centre, Block-A, 7th Floor, Shahrah-e-Faisal, Karachi.
Dewan Mohammad Yousuf Farooqui(Chairman) MCB Bank Ltd. M/s. Feroze Sharif Tariq & Co.
Dewan Abdul Baqi Farooqui(Chief Executive) United Bank Ltd.
Dewan Asim Mushtaq Farooqui(Director) Standard Chartered Bank
Dewan Abdullah Ahmed Farooqui(Director) Saudi Pak Bank Ltd.
Mrs. Hina Yousuf(Director) Mybank Ltd.
Mr. Mohammad Azimuddin(Director)
Mr. Shahid Hussain Shera(Director)

Yarn Kgs. 8760000 17894800
190
Dewan Khalid Textile Mills Ltd.
Dewan Mohammad Yousuf Farooqui(Chairman) Habib Bank Ltd. M/s. Feroze Sharif Tariq & Co.
Dewan Abdul Baqi Farooqui(Chief Executive) Muslim Commercial Bank Ltd.
Dewan Asim Mushfiq Farooqui(Director) Bank Alfalah Ltd.
Dewan Abdul Rehman Farooqui(Director) Askari Commercial Bank Ltd.
Dewan Abdullah Ahmed Farooqui(Director) Sadui Pak Commercial Bank Ltd.
Mr. Shahid Hussain Shera(Director)
Mr. Muhammad Azimuddin(Director)

Yarn Kgs 7600000 9240360
Dewan Mushtaq Textile Mills Ltd.

Finance & Trade Centre, Block-A, 8th Fllor, Shahrah-e-Faisal, Karachi.
Dewan Mohammad Yousuf Farooqui(Chairman) MCB Bank Ltd. M/s. Feroze Sharif Tariq & Co.
Dewan Abdullah Ahmed Farooqui(Chief Executiv Habib Bank Ltd.
Dewan Abdul Baqi Farooqui(Managing Director) Union Bank Limited
Dewan Asim Mushfiq Farooqui(Director)
Dewan Abdul Rehman Farooqui(Director)
Mr. Muhammad Azimuddin(Director)
Mr. Shahid Anwer (NIT)(Director)

Yarn Kgs 11062114 10522629
191
Dewan Textile Mills Ltd.
Dewan Mohammd Yousuf Farooqui(Chairman) Saudi Pak Bank Ltd. M/s. Faruq Ali & Co.
Dewan Abdul Baqi Farooqui(Chief Executive) Habib Bank Ltd.
Dewan Abdul Rehman Farooqui(Director) Standard Chartered Bank
Dewan Asim Mushfiq Farooqui(Director) United Bank Ltd.
Dewan Muhammad Hamza Farooqui(Director) NIB Bank Ltd.
Mr. Muhammad Azimuddin(Director) Bank Al-Falah
Mr. Iqbal Naeem Pasha(Director) Meezan Bank Ltd.

Yarn Kgs 9680000 17893619
Din Textile Mills Ltd.

Din House, 35-A/1, Lalazar Area, Opp. Beach Luxury Hotel, Karachi
Shaikh Muhammad Muneer(Chairman/Chief Exe Standard Chartered Bank ( Pakistan) Ltd. M/s. Mushtaq & Co.
Mr. Shahzad Naseer(Director) Habib Metorpolitan Bank Ltd.
Mr. Irfan Muneer(Director) Citibank N.A.
Shaikh Muhammed Pervez(Director) Allied Bank Ltd.
Shaikh Muhammad Naseer(Director) ABN AMRO Bank N.V.
Shaikh Muhammad Tanveer(Director) Faysal Bank Ltd.
Shaikh Muhammad Tariq(Director) Meezan Bank Ltd.
Date of Annual General Meeting 22nd September, 2008 Face Value Rs. 10.00

Yarn Kgs 20823616 19966266
192
Elahi Cotton Mills Ltd.
270-Sector I-9, Industrial Area, Islamabad.
Mr. Mahboob Elahi(Chief Executive) M/s. BDO Ebrahim & Co.
Mr. S.M.Raunaq-ud-Din(Director)
Mr. Mahfooz Elahi(Director)
Mr. Mahmood Elahi(Director)
Mr. Naveed Akhtar(Director)
Mr. Abdul Rasheed(Director)
Mr. Farrukh Ahmed(Director)

Yarn Lbs 5591070 3821650
Ellcot Spinning Mills Ltd.

Nagina House, 91-B-1, M.M.Alam Road, Gulberg-III, Lahore.
Shaikh Enam Ellahi(Chairman) M/s. Rahman Sarfaraz Rahim Iqbal Rafiq & Co.
Mr. Syed Mohsin Gilani(Director)
Mr. Shahzada Ellahi Shaikh(Director)
Mr. Shafqat Ellahi Shaikh(Director)
Mr. Shaukat Elahi Sheikh(Director)
Mr. S. M. Yusuf(Director)
Mr. Jamal Nasim (NIT)(Director)

yarn Kgs 13654540 12087839
Power MW hours 111471 46223
193
Faisal Spinning Mills Ltd.
Umer House, 23/1, Sector 23, S.M.Farooq Road, Korangi Industrial Area, Karachi.
Mr. Mohammad Sharif(Chief Executive) Habib Bank Ltd. M/s. Mushtaq & Co.
Mr. Mohammad Shakeel(Director) Citibank Na
Mr. Adil Shakeel(Director) United Bank Limited
Mr. Khurram Salim(Director) Standard Chartered Bank
Mr. Mohammad Salim(Director) The Bank of Punjab
Mr. Mohammad Shaheen(Director) The Hongkong & Shanghai Banking Corp. Ltd.
Mr. Bilal Sharif(Director)

yarn kgs 11434172 11364457
fabric Meters 41107384 43702051
Fateh Sports Wear Ltd.

Mirpurkhas Road, Hyderabad.
Mr.Rauf Alam(Chairman/Chief Exec.) Allied Bank Of Pakistan Ltd. M/s. Hafeezullah & Co.
Mr. Faraz Alam(Director) Askari Commercial Bank Ltd.
Mrs. Najma Roshan(Director) MCB Bank Ltd
Mr. Muhammad Mohsin(Director)
Mr. Muhammad Naveed(Director)
Mr. Saeed Alam(Director)
Mr. Aftab Alam(Director)

Sports garment
194
Fateh Textile Mills Ltd.
Hali Road, S.I.T.E., Hyderabad.
Mr. Gohar Ullah(Chairman) Standard Chartered Bank M/s. Rahim Jan & Co.
Mr. Humayun Barkat(Chief Executive) MCB Bank Ltd
Mr. Asad Ullah Barkat(Director) National Bank Of Pakistan
Mr. Maqsood Ahmed Khan(Director) Deutsche Bank
Mr. Muhammad Saleem(Director) Askari Commercial Bank Ltd.
Mr. Muhammad Ayub (NIT)(Director) Habib Bank Ltd.
Mr. Abdul Razzak Memon(Director) Allied Bank Of Pakistan Ltd.

yarn Kgs 9400000 2434122
Fatima Enterprises Ltd.

Solvent Plant 487-A, Mumtazabad, Vehari Road, Multan.
Sheikh Nishat Ahmad(Chief Executive) MCB Bank Ltd M/s. Ahmad Mushir & Co.
Mr.Imtiaz Fazal(Director) Allied Bank Of Pakistan Ltd.
Mrs.Farhat Nishat(Director) Soneri Bank Limited
Mrs.Sahira Nishat(Director) Askari Commercial Bank Limited
Sheikh Zafar Iqbal(Director) Habib Bank Ltd.
Mr. Muhammad Islam(Director) The Royal Bank of Scottland Ltd.
Mr. Ashar Fazal(Director) Bank Al-Falah Ltd.
Date of Annual General Meeting 17th December , 2008 Face Value Rs. 10.00

Spinning Kgs 21772450 15188137
Weaving Meters 36200000 35736677
Oil M. Tons 22702 2354
195
Fawad Textile Mills Ltd.
6 - F, Block 'H' Gulberg II, Lahore.
Sheikh Umar Farooq(Chairman/ C.E.) Soneri Bank Ltd. M/s. M. Yousuf Adil Saleem & Co.
Mrs. Najma Firdous(Director) Habib Bank Ltd.
Mr. Aamir Rasool Khan(Director) Meezan Bank Ltd.
Mr. Khalid Javaid Khan(Director) The Bank Of Punjab
Mr. Kashif Rasool Khan(Director) Pakistan Kuwait Investment Co. (Pvt) Ltd.
Mr. Muhammad Imran Khan(Director)
Mr. Saleem Akhter(Director)

Yarn kgs 5143739 3281685
Fazal Cloth Mills Ltd.

1st Floor, 16 Bank Square, Lahore
Sheikh Naseem Ahmed(Chairman & C.E.) MCB Bank Ltd. M/s. M. Yousaf Adil Saleem & Co.
Mian Mumtaz Abdullah (NIT)(Director) Habib Bank Ltd.
Mr. Fawad Ahmed Mukhtar(Director) Askari Commercial Bank Ltd.
Mr. Amir Naseem Sheikh(Director) United Bank Ltd.
Mr. Rehman Naseem(Director) National Bank Of Pakistan
Mr. Faisal Ahmad Mukhtar(Director) Soneri Bank Ltd.
Mr. Fazal Ahmed Sheikh(Director) Meezan Bank Ltd.

Yarn Kgs. 30541528 46487462
196
Fazal Textile Mills Ltd.
LA-2/B, Block-21, Rashid Minhas Road, Federal 'B' Area, Karachi.
Mr. M. Yunus A. Aziz(Chairman) Royal Bank of Scotland Hyder Bhimji & Co.
Mr. Sohail M.Yunus(Chief Executive) Citibank N.A.
Mr. Shaikh M. Afzal(Director) Habib Bank Ltd.
Mr. Ilyas Ismail(Director) Bank Al-Falah Ltd.
Mr. Imran M. Yunus(Director) Bank Al-Habib Ltd.
Miss Maryam Razzak(Director) Metropolitan Bank Ltd.
Mr. Muhammad Ali A. Razak(Director) Standard Charterd Bank

Spinning Lbs 48990026 48607000
Knitting Kgs 1485000 599103
Gadoon Textile Mills Ltd.

APTMA House, Tehkal Payan, Jamrud Road, Peshawar.
M. Younus A. Aziz Tabba(Chairman) Natioanl Bank of Paksitan M/s.M. Yousuf Adil Salim & Co.
Mr. Sohail M. Yunus Tabba(Chief Executive) Citibank N.A.
Mr. Ilyas Ismail Moten(Director) Dubai Islamic Bank
Mr. M. Javed M. Yunus Taba(Director) United Bank Ltd.
Miss Marium Razzak(Director) Bank Al-Habib Ltd.
Mr. Muhammad Ali A. Razzak Tabba(Director) Habib Metropolitan Bank Ltd.
Mr. Muhammad Rafiq (NIT)(Director) Bank Alfalah Ltd.

Yarn Kgs 78147696 38140266
197
Ghazi Fabrics International Ltd.
8-C, Block E-III, Gulberg-III, Lahore.
Mr. Mohammad Arshad Chaudhry(Chairman/ C.EHabib Bank Ltd. M/s. Qadeer & Co.
Mrs. Azra Yasmin(Director) United Bank Ltd.
Mr. Rizwan Arshad(Director)
Mr. Kamran Arshad(Director)
Miss. Fariha Arshad(Director)
Miss. Wajeeha Arshad(Director)
Mr. Muhammad Tariq(Director)

yarn Kgs. - 15776802
Cloth Sq. Meters - 63516433
Glamour Textile Mills Ltd.

11 - K. M, Manga - Raiwind Road, Kasur.
Mr. Azhar Elahi(Chairman/ C.E.) Standard Chartered Bank Ltd. M/s. Mr. Mushtaq & Co.
Mr. Asad Elahi(Director) Soneri Bank Ltd
Mr. Ather J. Elahi(Director)
Mr. Mansoor Elahi(Director)
Mrs. Noureen Asad(Director)
Mrs. Shafqat Azhar(Director)
Mrs. Mehnaz Ather Elahi(Director)

yarn Kgs 6785551 6595154
198
Globe Textile Mills (OE) Ltd.
105, Ibrahim Trade Tower, Shahrah-e-Faisal, Karachi.
Mr. Arif Haji Habib(Chief Executive) Bank Al-Falah Ltd. M/s. Gardezi & Co.
Ms. Farzana Arif(Director) Muslim Commercial Bank Ltd.
Mst. Gul Bano Haji Habib(Director) Askari Commercial Bank Ltd.
Mr. Misbah Arif(Director)
Mr. Pir Mohammad A. Kaliya(Director)
Ms. Humaira Arshad(Director)
Mr. Arshad Arif(Director)


Yarn Kgs
defaulter to SECP
Globe Textile Mills Ltd.

HX-2, Scheme No.4, Landhi Industrial Area, Landhi, Karachi.
Mr. Arif Haji Habib(Chief Executive) MCB Bank Ltd. M/s. Hyder Bhimji & Co.
Ms. Farzana Arif(Director) Askari Commercial Bank Ltd.
Ms. Sameera Yasin Saya(Director)
Miss. Farzeen Fazl-e-Umer(Director)
Mst. Gul Bano Haji Habib(Director)
Miss. Misbah Arif(Director)
Mr. Arshad Arif(Director)

Yarn Kgs - -
199
Gul Ahmed Textile Mills Ltd.
Plot No.82, Main National Highway, Landhi, Karachi.
Mr. Bashir Ali Mohammed(Chairman/Chief Exec. Allied Bank Of Pakistan Hyder Bhimji & Co.
Mr. Siraj Kassam Teli(Director) United Bank Ltd.
Mr. Muhammad Junaid(Director) National Bank Of Pakistan
Mr. Ziad Bashir(Director) NIB Bank Ltd.
Mr. Zain Bashir(Director) Bank Al-Habib Ltd.
Mr. A. Razak Haji Sattar(Director) Meezan Bank Ltd.
Mr. Abdul Aziz Yousuf(Director) The Royal Bank of Scotland Ltd.

Cloth Sq. meters 118870000 78536000
Yarn Kgs 38877000 32241000
Gulistan Spinning Mills Ltd.

2nd Floor, Finlay House, I.I.Chundrigar Road, Karachi.
Mr. Abdul Shakoor(Chairman) National Bank Of Pakistan M/s. Mushtaq & Co.
Mr. Naseer Ahmed(Chief Executive) Habib Bank Ltd.
Mr. Tanveer Ahmed(Director) United Bank Ltd.
Mr. Muhammad Younus(Director) Askari Commercial Bank Ltd.
Mr. N.R.Siddiqui(Director) MCB Bank Ltd.
Mr. Gul Nawaz (NIT)(Director) Allied Bank Ltd.
Mr. Riaz Ahmad(Director) Bank Al-Falah Ltd.

Yarn Kgs 41600000 38665566
200
Gulistan Textile Mills Ltd.
Mr. Abdul Shakoor(Chairman) Habib Bank Ltd. M/s. Mushtaq & Co.
Mr. Naseer Ahmed(Chief Executive) National Bank Of Pakistan
Mr. Tanveer Ahmed(Director) United Bank Ltd.
Mr. Gul Nawaz (NIT)(Director) Askari Comm. Bank Ltd.
Mr. Muhammad Younus(Director) MCB Bank Ltd.
Mr. N.R. Siddiqui(Director) Allied Bank Ltd.
Mr. Riaz Ahmad(Director) Bank Al-Falah
Ordinary Shares Bonus (%) 7.5 Average Price in 2008 Rs. 31.08

yarn Kgs 41600000 38665566
Gulshan Spinning Mills Ltd.

Mr. Abdul Shakoor(Chairman) United Bank Ltd. M/s. Hameed Chaudhry & Co.
Mr. Naseer Ahmed(Chief Executive) National Bank Of Pakistan
Mr. Riaz Ahmed(Director) Habib Bank Ltd.
Mr. Tanveer Ahmed(Director) Faysal Bank Ltd.
Mr. Mohammad Abdullah(Director) Bank Alfalah Ltd.
Mr. N.R.Siddiqui(Director) The Bank of Punjab
Mr. Gul Nawaz (NIT)(Director) MCB Bank Ltd.

Yarn Kgs 18090962 17674774
201
Hafiz Textile Mills Ltd.
97, Alliance Building, 2nd Floor, Moolji Street, Mereweather Tower, Karachi.
Mr. Fakhruddin Usmani(Chief Executive) Habib Bank Ltd. M/s. Moochhala Gangat & Co.
Mr. Quamruddin Usmani(Director) United Bank Ltd.
Mr. Mohammad Farooq Usmani(Director) Natioanl Bank of Paksitan
Mr. Mahmood Wali Muhammad(Director) Habib Bank A. G. Zurich
Mr. Muhammad Atiq(Director)
Mr. Ali Muhammad Usmani(Director)
Mr. Muhammad Shahzad Fakir(Director)

Yarn Kgs. 119504 -
Haji Mohammad Ismail Mills Ltd.

G/6-A, S.I.T.E., Kotri. Sindh.
Mr. Najeeb Mushtaq Vohra(Chief Executive) Askari Commercial Bank Ltd. A. R. Khan & Co.
Mr. Ikram Ahmed(Director) NIB Bank Ltd.
Mr. Mohammad Irfan(Director) National Bank Of Pakistan
Mr. Wazir Khan(Director)
Mr. Mohammad Sadiq(Director)
Mr. Essa Khan(Director)
Mr. Muhammad Sarfraz(Director)

Yarn Million Kgs 8.98 (m) 0.35 (m)
202
Hajra Textile Mills Ltd.
45-50 Industrial Area, Gulberg-III, Lahore.
Mr. Noor Ellahi(Chairman) Allied Bank Of Pakistan Ltd. M. Hussain Chaudhury & Co.
Mr. M. Hussain Ellahi(Director) The Bank Of Punjab
Mr. Rana Muhammad Saeed (NIT)(Director) Sadui Pak Commercial Bank Ltd.
Mr. Ahmed Elahi(Director)
Mr. Salman Yaqub Sheikh(Director)
Mr. Muhammad Shafiq Bhatti(Director)
Mr. Shahid Aziz(Director)

yarn Million Kgs 8.400 9997
Hala Enterprises Ltd.

120-E/1, Gulberg III, Lahore
Mr. Tahir Jahangir(Chairman/CE/MD) National Bank Of Pakistan M/s. Horwath Hussain Chaudhary & Co.
Mr. Jillani Jahangir(Director) Faysal Bank Ltd.
Miss. Munizae Jahangir(Director) United Bank Ltd.
Miss. Saleema Jahangir(Director)
Sh. Ijaz Ahmad(Director)
Kh. Abdul Rasheed(Director)
Mr. Andrew McMullen(Director)

Cotton yarn Kgs. 1502400 1021827
203
Hamid Textile Mills Ltd.
97-N, Model Town Extension, Lahore.
Sardar Mohammad Omar(Chairman / C.E.O.) Standard Chartered Bank ( Pakistan) Ltd. M/s. Yousuf Saeed & Co.
Sardar Khurram Omar(Director) National Bank Of Pakistan
Mst. Abida Omar(Director)
Mrs. Bushra Khurram(Director)
Mr. M. Alamgir Abid(Director)
Mr. Khurram Sattar(Director)
Sardar Ahmed Ayaz(Director)


Weaving Th. Sq. meters 9252
Spinning Th. Lbs. 8595
Harum Textile Mills Ltd.(Nayab Spi.& Wev. Mills)

145-E/I, Gulberg-III, Lahore.
Ch. Naeem Gulzar(Chief Executive) National Bank Of Pakistan M/s. Zahid Jamil & Co.
Ch. Mazhar Shakeel(Director) Saudi Pak Com. Bank Ltd.
Mr. Gulrez Bhalli(Director) PICIC Com. Bank Ltd.
Mr. Waheed Akhtar(Director) Al baraka Islamic Bank
Mrs. Rehana Abbas(Director) Askari Commercial Bank Limited
Mrs. Serat Zainab Bhalli(Director)
Mrs. Shakeela Naeem(Director)


Yarn Kgs. 9981244
defaulter to SECP
204
Hira Textile Mills Ltd.
44-E/1, Gulberg-III, Lahore.
Mr. Muhammad Umer Virk(Chairman) M/s. M. Yousaf Adil Saleem & Co.
Mr. Nadeem Aslam Butt(Chief Executive)
Mr. Umair Umer(Director)
Mrs. Shahnaz Umer(Director)
Miss. Umaira Umer(Director)
Mrs. Sadiya Umair(Director)
Mr. Saeed Ahmed Khan(Director)

Spinning Kgs. 13099333 11512564
Dyeing Kgs. 1095000 641310
Husein Industries Ltd.

Plot No. HT-8, Landhi Industrial & Trading Estate, Landhi, Karachi
Mr. Aziz L. Jamal(Chairman/Chief Exec.) Habib Bank Ltd. M/s. Hyder Bhimji & Co.
Mrs. Aisha Bai Suleman(Director) Habib Metorpolitan Bank Ltd.
Mr. Hussein Jamal(Director)
Mr. Ahsan Jamal(Director)
Mr. Rashid L.Jamal(Director)
Mr. Akhtar Wasim Dar(Director)
Miss. Hina Abdul Rashid(Director)

Yarn Kgs. 10444684 7900679
Cloth Th. Sq. meters 8238 7628
205
ICC Textiles Ltd.
242-A, Anand Road, Upper Mall, Lahore.
Mr. Shafiq A.Siddiqi(Chief Executive) ABN-AMRO Bank M/s. Anjum Asim, Shahid Rehman
Mr. Tariq Rehman(Director) Faysal Bank Ltd.
Mr. Tahir Rehman(Director) MCB Bank Ltd.
Mr. Usman Haq(Director)
Mr. Haris Noorani(Director)
Mr. Suhail Mannan(Director)
Mr. Javaid S.Siddiqi(Director)

Ideal Spinning Mills Ltd.

Room No. 404,405, 4th Floor, Business Centre, Dunally Road, Karachi.
Mr. Nisar Ahmed Sheikh(Chairman) Allied Bank of Pakistan M/s. Riaz Ahmad & Co.
Mr. Mohammad Saeed Sheikh(Chief Executive) Albaraka Islamic Investment Bank
Mr. Shahzad Ahmad(Director) Bank Al-Falah Ltd.
Mr. M. Anwar Sajjad(Director) Bank Al-Habib Ltd.
Mr. Mohammad Arshad(Director) Bank of Punjab
Mr. Saad Ashraf (NIT)(Director) Habib Metropolitan Bank Ltd.
Mr. Amjad Saeed(Director)

Spinning Kgs 5826492 6210784
Weaving Sq. Mt. 18763844 13109634
206
Idrees Textile Mills Ltd.
6-C, Ismail Centre, 1st Floor, Central Commercial Area, Bahadurabad, Karachi.
Mr. S. M. Idrees Allawala(Chairman) National Bank Of Pakistan M/s. M. Yusuf Adil Saleem & Co.
Mr. Imran Idrees Allawala(Chief Executive) Soneri Bank Ltd.
Mrs. Saba Kamran(Director) Bank Alfalah Ltd.,
Mr. Kamran Idrees Allawala(Director) Habib Bank Ltd.
Mr. Mansoor Idrees Allawala(Director) Habib Metropolitan Bank Ltd.
Mr. Muhammad Israil(Director) Emirtes Global Islamic Bank Ltd.
Mr. Naeem Idrees Allawala(Director) Saudi Pak Commercial Bank Ltd.

Yarn Kgs 14093577 11565409
Indus Dyeing & Manufacturing Co. Ltd.

Room No. 508, 5th Floor, Beaumont Plaza, Civil Lines Quarters,Karachi.
Mian Mohammed Ahmed(Chairman) Soneri Bank Ltd. M/s. Yousuf Adil Saleem & Co.
Mr. Shahzad Ahmed(Chief Executive) Faysal Bank Ltd.
Mr. Imran Ahmed(Director) Meezan Bank Ltd.
Mr. Irfan Ahmed(Director) Bank Al-Falah Ltd.
Mr. Kashif Riaz(Director) Habib Bank Ltd.
Mr. Shafqat Masood(Director)
Mian Riaz Ahmed(Director)

Spinning Yarn Lbs 100013272 90077949
207
International Knitwear Ltd.
F-2/A (L), S.I.T.E. Karachi.
Mr. Naeem Shafi(Chief Executive) Habib Bank Ltd. M/s. Rao & Co.
Mr. Waseem Shafi(Director) Bank Al-Habib Ltd.
Mr. Zahid Ali(Director)
Mr. Qamar Mashkoor(Director)
Mr. Muhammad Rasheed-ul-Azam(Director)
Mr. Muhammad Shahabuddin Khan(Director)
Mr. Muhammad Haroon (FCA)(Director)

Export Pcs. 400000 213992
Dyeing Kgs. 1800000 2321417
Ishaq Textile Mills Ltd.

Room No. 404, 405, 4th Floor, Business Centre, Dunally Road, Karachi.
Mr. Mohammad Arshad(Chairman) Faysal Bank Ltd. M/s. Riaz Ahmad & Co.
Mr. Nisar Ahmad Sheikh(Chief Executive) Albaraka Islamic Investment Bank B.S.C(E.C)
Mr. Shahzad Ahmad Sheikh(Director) Allied Bank Ltd.
Mr. M. Anwar Sajjad(Director) Bank Alflah Limited
Mr. Mohammad Saeed Sheikh(Director) Bank Al-Habib Limited
Mr. Muhammad Mudassir iqbal (NIT)(Director) Habib Bank Ltd.
Mr. Amjad Saeed(Director) Standard Chartered Bank Ltd.

Yarn Kgs. 4858000 4517491
Cloth Thousand Sq. Meters 41570 35948
208
Ishtiaq Textile Mills Ltd.
155 - Napier Road, Karachi.
Dewan Zubair Ahmed Farooqui(Chairman/Chief National Bank Of Pakistan M/s. Faruq Ali & Co.
Dewan Abu Obaida Farooqui(Director) Habib Metorpolitan Bank Ltd.
Dewan Abu Saeed Farooqui(Director) MCB Bank Ltd
Dewan M. Emran Farooqui(Director) Bank Al-Falah Ltd.
Dewan M. Rehan Farooqui(Director)
Dewan M. Rizwan Farooqui(Director)
Dewan M. Uzair Farooqui(Director)

Cotton yarn Kgs. 4632000 3940248
Island Textile Mills Ltd.

8, 8th Floor, Textile Plaza, M. A . Jinnah Road, Karachi.
Mr. Anwar Ahmed Tata(Chairman) Soneri Bank Ltd. M/s. M. Yousuf Adil Saleem & Co.
Mr. Shahid Anwar Tata(Chief Executive) MCB Bank Ltd.
Mr. Adeel Shahid Anwar Tata(Director) Bank Al-Falah Ltd.
Mr. Javed Ahmed(Director) The Royal Bank of Scotland Ltd.
Mr. Kausar Ejaz(Director)
Mr. Ajaz Ahmed Tariq(Director)
Mr. Farooq Advani(Director)

Yarn Kgs 5372403 7137910
209
Itti Textiles Ltd.
1st Floor, 1/7-B, Muhammad Ali Housing Society, Karachi
Qazi Wazir Ahmed(Chairman) Mashreq Bank P.S.C. M/s.. Hashmi & Co.
Mr. Tahir A. Khan(Director) Metropolitan Bank Ltd.
Mst. Hameeda Shoaib(Director) Habib Bank Ltd.
Mr. Iftikhar Ahmed(Director) Bank Of America Nt & Sa.
Mr. Mohammad Rafiq(Director)
Mr. Omar Ahmed(Director)
Mr. Changaiz A. Khan(Director)


defaulter to SECP
J.A. Textile Mills Ltd.

16-C Peoples Colony, Faisalabad.
Mr. Imran Zahid(Chief Executive) Habib Bank Ltd. M/s. Hyder Bhimji & Co.
Miss. Quratul Ain Rehan(Director) United Bank Ltd.
Mr. Jamil Ahmad Tahir(Director) Al-Baraka Islamic Bank B.S.C.(E.C.)
Mr. Muhammad Shehzad(Director) National Bank Of Pakistan
Mr. Shafaqat Ali(Director)
Mr. Riaz Ahmed(Director)
Mr. Muhammad Zulqurnain(Director)

Yarn Kgs 6616827 6488408
210
J.K. Spinning Mills Ltd.
3-1/A Peoples Colony, Faisalabad.
Mr. Jawed Anwar(Chairman/ C.E.) Albaraka Islamic Investment Bank B.Sc (E.C) M/s Zahid Jamil & Co.
Mr. Shaiq Jawed(Director) Askari Commercial Bank Ltd.
Mrs. Farhat Jehan(Director) Standard Chartered Bank Ltd.
Mrs. Nageen Faiq(Director) NIB Bank Ltd.
Mrs. Samina Abid(Director) United Bank Limited
Syed Hussain Shahid Mansoor Naqvi(Director) The Bank Of Punjab
Mr. Faiq Jawed(Director)

Yarn Kgs 10031126 10772182
Janana De Malucho Textile Mills Ltd.

Habibabad, Kohat (N.W.F.P)
Mr. Raza Kuli Khan Khattak(Chairman) Bank Al-Falah Ltd. M/s. Hameed Chaudhri & Co.
Lt. Gen. (Retd.) Ali Kuli Khan Khattak(Chief Exec National Bank Of Pakistan
Mrs. Zeb Gohar Ayub Khan(Director) Habib Bank Ltd.
Dr. Shaheen Kuli Khan(Director) United Bank Ltd.
Mrs. Shenaz Sajjad Ahmed(Director)
Mr. Mushtaq Ahmad Khan (FCA)(Director)
Mr. Ahmad Kuli Khan Khattak(Director)

Yarn Kgs 12733739 24517579
211
Jubilee Spinning & Weaving Mills Ltd.
40-A, Zafar Ali Road, Gulberg-V, Lahore.
Mr. Shams Rafi(Chief Executive) Habib Metropolitan Bank Ltd. M/s. Anjum Asim Shahid Rahman
Mr. Shaukat Shafi(Director) Standard Charted Bank Ltd.
Mr. Umer Shafi(Director) National Bank Of Pakistan
Mr. Mohammed Arshad(Director) Habib Bank Ltd.
Mr. Masood A. Shaikh(Director) Bank Al-Habib Ltd.
Mr. Salman Rafi(Director)
Mr. Ahmed Shafi(Director)

yarn Kgs 2486250 1439436
Karim Cotton Mills Ltd.

14/E, 2nd Floor, Writers Chambers, Mumtaz Hassan Road, Karachi.
Mr. Muhammad Idrees Haji Ebrahim(Chief Execu MCB Bank Ltd. M/s. Rao & Company
Mr. Abdul Wahid Umer(Director) Habib Bank Ltd.
Mr. Abu Talib Muhammad Yunus(Director)
Mr. Zain ul Abid Muhammad Yunus(Director)
Mr. Muhammad Mudassir Iqbal (NIT)(Director)
Mr. Saeed-u-ddin Hamid-u-ddin(Director)
Mr. Abdul Wahab Haji Muhammad(Director)

Yarn
212
Khalid Siraj Textile Mills Ltd.
135-Uper Mall, Lahore.
Mian Tayyab Iqbal(Chief Executive) Bank Alfalah Ltd. M/s. Kaleem & Co.
Kh. Iftikhar-ud-din(Director) National Bank Of Pakistan
Mian Tahir Iqbal(Director)
Miss. Rabia Iqbal(Director)
Miss. Tayyaba Iqbal(Director)
Mrs. Rukhsana Arif(Director)
Mr. Muhammad Asif (NIT)(Director)

yarn Kgs 2989277 5164145
Khurshid Spinning Mills Ltd.

69-G, Gulberg-III, Lahore.
Khawaja Khurshid Anwar(Chairman) Albaraka Islamic Investment Bank M. Hussain Chaudhry & Co.
Khawaja Amer Khurshid(Chief Executive) Citibank N.A.
Khawaja Aized Amer(Director) Standard Chartered Bank
Khawaja Asem Khurshid(Director) Meezan Bank Ltd.
Khawaja Shahid Amin Sethi(Director) Habib Metropolitan Bank Ltd.
Miss Jabeen Khurshid(Director) Habib Bank Ltd.
Mrs. Sharmeen Asem(Director) The Bank Of Punjab

Yarn Million Kgs 17496 6018
213
Khyber Textile Mills Ltd.
Baldher, District Haripur, N.W.F.P.
Chaudhry M. Eusuff(Chairman) M/s. Hafeezullah & Co.
Mr. Farid M. Jadoon(Chief Executive)
Mr. Abdul Hamid Khan(Director)
Mr. Saifullah Khan Jadoon(Director)
Mr. M. Aurangzeb Khan(Director)
Mr. Omer Farid Jadoon(Director)
()

yarn Kgs 8555538 -
Kohat Textile Mills Ltd.

APTMA House, Tehkal Payan Jamrud Road, Peshawar.
Mr. Javed Saifullah Khan(Chairman/ C.E.) The Bank of Punjab M/s. Hameed Chaudhry & Co.
Mr. Osman Saifullah Khan(Director) United Bank Limited
Mrs. Kulsum Saifullah Khan(Director) National Bank of Pakistan
Mr. Jehangir Saifullah Khan(Director) Albaraka Islamic Investment Bank
Mr. Omer Saifullah Khan(Director) First National Bank Mudaraba
Ch. Maqbool Ahmad(Director)
Mrs. Hoor Yousafzai(Director)

yarn spindles Kgs. 17806000 18897000
214
Kohinoor Industries Ltd.
Mr. M. Naseem Saigol(Chairman) Allied Bank Of Pakistan Ltd. M/s. Manzoor Hussain Mir & Co.
Mr. M. Azam Saigol(Chief Executive) Askari Commercial Bank Ltd.
Mr. Shahid Sethi(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mrs. Razia Begum(Director) United Bank Ltd.
Mr. M.Rafi Khan(Director) National Bank Of Pakistan
Mr. Muhammad Omer Farooq(Director) Bank Alfalah Ltd.
Mr. Rashid Ahmed Javaid(Director) Habib Bank Ltd.

Yarn Kgs 17163000 4399000
Kohinoor Mills Ltd.

8th K.M. Manga Raiwind Road, District Kasur.
Mr. Aamir Fayyaz Sheikh(Chairman / C.E.O.) Allied Bank Of Pakistan Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Salman Akram Raja(Chief Executive) Prime Commercial Bank Limited
Mr. Najeeb Malik(Director) Union Bank Ltd.
Mr. Gul Nawaz (NIT)(Director) United Bank Ltd.
Syed Mohsin Raza Naqvi(Director) PICIC Commercial Bank Ltd.
Mr. Asad Fayyaz Sheikh(Director) Faysal Bank Ltd.
Mr. Ali Fayyaz Sheikh(Director) Habib Bank Ltd.

Cloth Th. Sq. Meters 69834 62340
Dyeing Linear meters 30000000 2682934
Knitting 50 Dozs 8760000 7102532
215
Kohinoor Spinning Mills Ltd.
Kashana-e-Yousaf, Khawaja Street, Chakwal
Khawaja Mohammad Naveed(Chief Executive) Habib Metropolitan Bank Limted M/s. Hameed Khan & Co.
Khawaja Mohammad Jahangir(Director) MCB Bank Ltd.
Khawaja Mohammad Nadeem(Director) National Bank Of Pakistan
Khawaja Mohammad Javed(Director) Faysal Bank Ltd.
Khawaja Mohammad Tanveer(Director) Standard Chartered Bank Ltd.
Khawaja Mohammad Kaleem(Director)
Mr. Mohammad Aman Farooq(Director)

Yarn Kgs 19138822 31076502
Kohinoor Textile Mills Ltd.

42-Lawrence Road, Lahore.
Mr. Tariq Sayeed Saigol(Chairman) Albaraka Islamic Investment Bank B.S.C(E.C) M/s. Riaz Ahmed & Co.
Mr. Taufique Sayeed Saigol(Chief Executive) Faysal Bank Ltd.
Mrs. Shehla Tariq Saigol(Director) Meezan Bank Ltd.
Mr. Waleed Tariq Saigol(Director) United Bank Ltd.
Mr. Syed Tariq Saigol(Director) MCB Bank Ltd
Mr. Zamiruddin Azar(Director) Allied Bank Of Pakistan Ltd.
Mr. Abdul Hai Mehmood Bhaimia(Director) Askari Commercial Bank Ltd.

Spinning THousand Kgs. 69655 65504
Weaving Thousands Sq. Metres 84875 70050
Power Plant Mega Watts 253487 97482
216
Landmark Spinning Industries Ltd.
1st Floor, Cotton Exchange Building I. I. Chundrigar Road, Karachi.
Mr. Akber Ali Hashwani(Chairman/ C.E.) Metropolitan Bank Ltd. M/s. Feroze Sharif Tariq & Co.
Mrs. Farieha A. Hashwani(Director) National Bank Of Pakistan
Mrs. Sultana A. Hashwani(Director) Habib Bank Ltd.
Mr. Nizam A. Hashwani(Director)
Syed Raza Abbas Jafferi(Director)
Mr. Abdullah A Hashwani(Director)
Mr. Amin A. Hashwani(Director)

yarn Kgs 6152000 0
Libbas Textile Ltd.

132/4, Industrial Estate, Kot Lakhpat, Lahore.
Mrs. Saira Tahir(Chairman) Habib Bank Ltd. M/s. Awais Hyder Noman Rizwani & Co.
Mr. Tahir Bashir Khan(Chief Executive) Bank Alflah Limited
Mr. Salman Mahmood(Director) Muslim Commercial Bank Limited
Mr. Aamir Bashir Khan(Director) The Bank Of Punjab
Mr. Shahid Bashir Khan(Director)
Malik Muhammad Yasin(Director)
Mr. Rahat Bashir Khan(Director)


Knitting Kgs 450,000 -
Dyeing. (Note: Failed to hold AGM and Kgs 1,200,100 -
defaulter to SECP)
217
Mahmood Textile Mills Ltd.
Mehr Manzil, Lohari Gate, Multan.
Khawaja Muhammad Masood(Chairman) Habib Bank Ltd. M. Yousuf Adil Saleem & Co.
Khawaja Muhammad Iqbal(Chief Executive) United Bank Ltd.
Mrs. Mehr Fatima(Director) MCB Bank Ltd.
Khawaja Muhammad Ilyas(Director)
Khawaja Muhammad Younus(Director)
Mr. Jalal-Uddin Roomi(Director)
Mr. Muhammad Muzafar Iqbal(Director)

yarn Kgs. 29299452 29245027
Cloth Th. Sq. Meters 25407 14541
Power Mega Watts 18 11
Maqbool Textile Mills Ltd.

24/3 Tufail Road, Multan Cantt:
Mian Tanvir Ahmad Sheikh(Chairman/ C.E.) Bank Al-Habib Ltd. M/s. M. Yousuf Adil Saleem & Co.
Mrs. Romana Tanvir Sheikh(Chief Executive) Habib Metropolitan Bank Ltd.
Mrs. Rameen Anis Sheikh(Director) Habib Bank Ltd.
Mian Anis Ahmad Sheikh(Director) Allied Bank Limited
Mian Aziz Ahmad Sheikh(Director)
Mian Idrees Ahmad Sheikh(Director)
Mr. Manzoor A. Sheikh (NIT)(Director)

yarn Kgs 5701816 5593893
218
Masood Textile Mills Ltd.
Universal House, West Canal Road, Farooqabad, Faisalabad.
Mr. Shahid Nazir(Chairman / C.E.O.) Habib Bank Ltd. M/s. Riaz Ahmad & Co.
Mr. M. Ali Sohail(Director) United Bank Limited
Mr. Fazal Ahmad(Director) Habib Metropolitan Bank Limited
Mr. Muhammad Arshad(Director) MCB Bank Ltd
Mr. Muhammad Asif (NIT)(Director) The Bank of Punjab
Mr. Naseer Ahmad Shah(Director)
Mr. Matloob Hussain(Director)

Sinning Th. Kgs 4762 4223
Knitting Th, Kgs 19216 10211
Dyeing/Finishing Th. Kgs 11880 9261
Mehr Dastagir Textile Mills Ltd.

Mehr Dastagir, Shaheed Younis Dastagir Road, Multan.
Khawaja Muhammad Yousuf(Chairman) National Bank Of Pakistan M/s.Mahboob Sheikh & Co.
Khawaja Muhammad Abdullah(Chief Executive) Muslim Commercial Bank Ltd.
Khawaja Muhammad Abdul Rehman Jami(Direc NIB Bank Ltd.
Khawaja Muhammad Ali(Director)
Khawaja Muhammad Usman(Director)
Khawaja Muhammad Hussain(Director)
Khawaja Muhammad Mansoor(Director)

Yarn Kgs 3525670 3363625
219
Mian Textile Industries Ltd.
29-B/7, Model Town, Lahore.
Mian Muhammad Jehangir(Chairman/Chief Exec The Bank Of Punjab Horwath Hussain Ch. & Co.
Mian Khurram Jehangir(Director) Industrial Development Bank Of Pakistan
Mian Khurshid Ahmed(Director) National Bank Of Pakistan
Mian Muhammad Nawaz(Director) Habib Bank Ltd.
Mian Waheed Ahmed(Director) PICIC
Mrs. Nargis Jehangir(Director)
Mr. Muhammad Asif (NIT)(Director)

Yarn Min Kgs 5845 2536
Fabric Min Sq. Meters 9293 7089
Mohammad Farooq Textile Mills Ltd.

1st Floor, Finlay House, I. I. Chundrigar Road, Karachi.
Ms. Sabiha Sumar(Chairperson) Habib Bank Ltd. M. Yousuf Adil Saleem & Co.
Mr. Mohammad Mukhtar Sumar(Chief Executive Muslim Commercial Bank Ltd.
Mr. Mohammad Farooq Sumar(Director) National Bank of Pakistan
Mr. Muhammad Mudassir Iqbal (NIT)(Director) Standard Chartered Bank Ltd.
Mr. Sayeed Imran(Director)
Ms. Faiza Imran Ahmad(Director)
Mr. Shehryar Sumar(Director)

Fabric Sq. Meters 16479374 9882163
220
Mubarak Textile Mills Ltd.
20-K.M. Off. Ferozepur Road, Lahore.
Mr. Rehan Ahmed(Chairman & C.E.) Habib Metropolitan Bank Ltd. M/s. Ahmad Mushir & Co.
Mr. Zulfiqar Ali(Director) Soneri Bank Ltd.
Mr. Abdul Rasheed(Director) Habib Bank Ltd.
Ch. Naseer Ahmed(Director) Toyal Bank of Scottland
Mr. Nadeem Abbas(Director)
Syed Hameed-ud-din(Director)
Mr. Imtiaz Husain Qureshi(Director)

Knitting Kgs. 1200000 90957
Dyeing Kgs. 1450000 1308583
Stitching pcs/month 239000 0
Mukhtar Textile Mills Ltd.

P-48 Street No 1, Douglas Pura, Faisalabad.
Rana Muhammad Saleem(Chief Executive) MCB Bank Ltd. M. Ather & Co.
Mr. Shamim Ahmed Khan(Director) Allied Bank of Pakistan Ltd.
Mr. Umer Saleem(Director) Habib Bank Ltd.
Rana Adnan Rashid(Director) Industrial Development Bank Of Pakistan
Rana Rashid Ahmed Khan(Director)
Miss. Nadia Saleem(Director)
Mrs. Shaista Saleem(Director)

yarn Kgs 4760878 -
221
N.P. Spinning Mills Ltd.
703-Uni Tower, I.I.Chundrigar Road, Karachi.
Mr. Inam-ur-Rehman(Chairman) Soneri Bank Ltd. M. Yousuf Adil Saleem & Co.
Mr. Khalid Inam(Chief Executive) Muslim Commercial Bank Ltd.
Mrs. Asma Khalid(Director) Habib Bank Ltd.
Mr. Nazir Ahmed(Director) Habib Metropolitan Bank Ltd.
Mrs. Summayya Rehman(Director)
Mr. Fakhar Mohiuddin Faruqi(Director)
Mr. Ziauddin Zubairi(Director)

yarn Kgs. 15047257 14167663
Nadeem Textile Mills Ltd.

201-202, Commerce Centre, Hasrat Mohani Road, Karachi.
Mr. Zahid Mazhar(Chief Executive) Askari Commercial Bank Ltd. M/s. Rehman Sarfaraz Rahim Iqbal Rafiq
Mr. Shahid Mazhar(Director) Bank Alfalah Ltd.
Mr. Ahmed Bin Shahid(Director) Soneri Bank Ltd.
Mst. Ghazala Shahid(Director) Citi Bank
Mst. Naila Zahid(Director) Allied Bank Limited
Mst. Rafia Sultana(Director) JS Bank Ltd.
Mr. Omer Bin Zahid(Director)

yarn Kgs 11030960 10998281
222
Nagina Cotton Mills Ltd.
2nd Floor Shaikh Sultan Trust Building No.2, 26-Civil Lines Beaumont Road, Karachi
Shaikh Inam Ellahi(Chairman) M/s. M. Yousuf Adil Saleem & Co.
Mr. Shaukat Ellahi Shaikh(Chief Executive)
Mr. Munawar Iqbal(Director)

Yarn Kgs. 6145059 11263379
Nakshbandi Industries Ltd.

H-23/4-A, Landhi, Karachi.
Mr. A. Razak Haji Sattar(Chairman) Askari Bank Ltd. M/s. Rahman Sarfaraz, Rahim Iqbal Rafiq
Mr. Muhammad Asif Teli(Chief Executive) Habib Metropolitan Bank Limited
Mr. Abdul Rahman Yaqub(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Shabbir Ahmed(Director) Habib Bank Ltd.
Mr. Khaleeq-ur-Rahman(Director) Bank Al-Habib Ltd.
Mr. Murtaza A. Razak(Director) Bank Alflah Limited
Mr. Jawed Yunus Tabba(Director)

Yarn Kgs 5598000 3910000
223
Nazir Cotton Mills Ltd.
3-Saint John Park, Lahore Cantt.
Mian Shahzad Aslam(Chief Executive) Muslim Commercial Bank Ltd. M/s. SAWARS (Chartered Accountants)
Mian Aamir Naseem(Director) Crescent Commercial Bank Ltd.
Mian Farrukh Naseem(Director) Askari Commercial Bank Ltd.
Mr. Nadeem Anjum(Director) Habib Bank Ltd.
Mr.Khurram Abbas(Director) Soneri Bank Ltd.
Syed Arif Husain(Director) United Bank Ltd.
Mr. Maqbool Hussain Bhutta(Director) Union Bank Ltd.

yarn Kgs 874059 -
Nina Industries Ltd.

A-29/A S.I.T.E. Manghopir Road, Karachi.
Mr. Saeed A. Sattar(Chairman) Habib Metropolitan Bank Ltd. M/s. Rehman Sarfaraz Rahim Iqbal Rafiq & Co.
Mr. Waqar A. Sattar(Chief Executive) United Bank Ltd.
Mr. Urooj Saeed(Director) PICIC Commercial Bank Ltd.
Mr. Yasir Waqar(Director) MCB Bank Ltd.
Mrs. Mehak Yasir(Director) Askari Commercial Bank Ltd.
Mr. Muzaffar S. Khan(Director) Bank Al-Habib Ltd.
Mr. Kashif Saeed Sattar(Director) Saudi Pak Commercial Bank Ltd.

Yarn and cotton spindle
224
Nishat (Chunian) Ltd.
31-Q, Gulberg-II, Lahore.
Mr. Mohammad Saleem(Chairman) Meezan Bank Ltd. M/s. Riaz Ahmad & Co.
Mr. Shahzad Saleem(Chief Executive) Citibank N.A.
Mrs. Farhat Saleem(Director) The Bank of Punjab
Mr. Mehmood Akhtar(Director) Faysal Bank Ltd.
Mr. Manzar Mushtaq(Director) Habib Bank Ltd.
Mr. Manzoor Ahmad (NIT)(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Aftab Ahmed Khan(Director) Deutsche Bank AG

Yarn Kgs 50499811 49753511
Fabric Sq. yards 182694493 175508331
Power Plant KWh 270088758 180715176
Nishat Mills Ltd.

Nishat House, 53-A, Lawrance Road, Lahore.
Mian Umer Mansha(Chairman & C.E.) KASB Bank Ltd. M/s. Riaz Ahmad & Co.
Rana Mohammad Mushtaq(Director) Standard Chartered Bank
Mian Hassan Mansha(Director) Habib Metorpolitan Bank Ltd.
Mr. Khalid Qadeer Qureshi(Director) United Bank Ltd.
Mr. Muhammad Azam(Director) National Bank Of Pakistan
Ms. Nabiha Shahnawaz Cheema(Director) Faysal Bank Ltd.
Mr. Muhammad Nawaz Tishna (NIT)(Director) Bank Islami Ltd.

Spinning Kgs 62106000 55643000
Weaving Sq. meters 208869000 195222000
Finishing Mt. 48132000 43371000
225
Olympia Spinning & Weaving Mills Ltd.
E/3, Farzana Building, 1st Floor, Block- 7&8 K.C.H.S.Union, Shaheed-e-Millat Road, Karachi.
Mian M. Waqar Monnoo(Chairman & C.E.) Soneri Bank Ltd. M/s. Mushtaq & Co.
Mr. Siraj Sadiq Monnoo(Director) Bank Alfalah Ltd.
Mr. Syed Ayazuddin(Director) Habib Bank Ltd.
Mrs. Ghazala Waqar(Director) Allied Bank Of Pakistan Ltd.
Mr. Imran Monnoo(Director) Askari Commercial Bank Limited
Mrs. Hina Siraj(Director) United Bank Ltd.
Mr. Muhammad Anwar Saigal(Director)

Yarn Kgs 15104644 14144356
Olympia Textile Mills Ltd.

23-Dawis Road, Lahore.
Mian M. Munir Monnoo(Chairman) Bank Al-Falah Ltd. M/s. Sheikh & Chaudhri
Mian M. Khurshid Monnoo(Chief Executive) Askari Commercial Bank Ltd.
Mian Tayyab Monoo(Director) Habib Bank Ltd.
Mian Adeel Monnoo(Director) Union Bank Ltd.
Mian Aurangzeb Monnoo(Director)
Mian Humayun Monnoo(Director)
Mian M .Nasir Monnoo(Director)

Yarn Kgs. 8635360 7840799
226
Paramount Spinning Mills Ltd.
Mr. Abdul Shakoor(Chairman) National Bank Of Pakistan M/s. Hameed Chaudhry & Co.
Mr. Tanveer Ahmed(Chief Executive) Habib Bank Ltd.
Mr. Riaz Ahmed(Director) United Bank Ltd.
Mr. Gul Nawaz(Director)
Mr. Mohammad Abdullah(Director)
Mr. N. R. Siddiqui(Director)
Mr. Naseer Ahmed(Director)

Dyeing 2065170 1494697
Home Textile 2065170 1494697
Stitching 2160000 1632002
Premium Textile Mills Ltd.

1st Floor Haji Adam Chambers, Altaf Hussain Road, New Challi, Karachi.
Mr. Abdul Kader Haji Adam(Chairman/Chief Exec Soneri Bank Ltd. Rahman Sarfaraz Rahim Iqbal Rafiq
Mr. Mohammed Ali Akbani(Director) National Bank of Pakistan
Mr. Mohammed Aslam(Director) Bank Al-Habib Ltd.
Mr. Mohammed Yasin Siddik(Director) Habib Metropolitan Bank Ltd.
Mr. Ghulam Mohammad Surti(Director)
Mr. Aziz Hussain (NIT)(Director)
Mrs. Aamir Amin (NIT)(Director)

Yarn Kgs 13305499 13020002
227
Prosperity Weaving Mills Ltd.
Nagina House, 91-B-1, M.M.Alam Road, Gulberg- III, Lahore.
Shaikh Enam Ellahi(Chairman) M/s. M. Yousuf Adil Saleem & Co.
Mr. Shaukat Ellahi Shaikh(M.D. / C.E.O.)
Mr. Syed Mohsin Gilani(Director)

Fabric Meters 58714474 54502253
Qayyum Spinning Ltd.

A-24, Textile Avenue, S.I.T.E., Karachi.
Mr. Muhammad Naeem(Chief Executive) United Bank Ltd. M/s. Sandhu & Co.
Mr. Sagir Ahmed(Director)
Mr. Jameel Akhtar(Director)
Mr. Mohammad Wasi Alam(Director)
Mr. Muhammad Qayyum(Director)
Mr. Muhammad Idrees Khan(Director)
Mr. Saifur Rehman(Director)


defaulter to SECP
228
Quality Textile Mills Ltd.
24, Ali Bhai Centre, 2nd Floor, 233-A, P.E.C.H.S., Block-2, Karachi.
Mr. Noor Mohammad Hashim(Chairman/Chief Ex Bank Al-Habib Ltd. M.Yousuf Adil Saleem & Co.
Mr. Tayyab Noor Mohammad(Director) Habib Metropolitan Bank Ltd.
Mr. Mohammad Younus Hashim(Director) Habib Bank Ltd.
Mr. Imran M. Younus(Director) Citibank N.A.
Miss. Fiza Chaudhri(Director)
Mr. Muhammad Idris Khokhar(Director)
Mr. Ahmed Musa(Director)

Yarn Kgs 7087253 8993721
Quetta Textile Mills Ltd.

Nadir House Ground Floor, I.I.Chundrigar Road, Karachi.
Mr. Khalid Iqbal(Chief Executive) National Bank Of Pakistan M/s. Mushtaq & Co.
Mrs. Najma Javed(Director) Atlas Bank Ltd.
Mr. Asim Khalid(Director) Faysal Bank Ltd.
Mr. Daanish Javed(Director) Habib Bank Ltd.
Mr. Tariq Iqbal(Director) Soneri Bank Ltd.
Mrs. Tabbasum Tariq(Director) United Bank Limited
Mr. Omer Khalid(Director) Albaraka Islamic Investment Bank B.S.C (E.C)

Yarn Kgs. - -
Fabric Th. Sq. Meters - -
Power MW - -
229
Rashid Textile Mills Ltd.
Variawa Building 1st Floor, I.I.Chundrigar Road, Karachi.
Mr. Mohammed Ilyas Haji Osman(Chief Executiv United Bank Ltd. M/s. Sandhu & Co.
Mst. Fatima Yamin(Director) National Bank Of Pakistan
Mst. Khatija Abdullah(Director) Habib Bank Ltd.
Mst. Shehnaz Begum Rasheed Ahmed(Director
Mst. Zaibunnisa Abdul Aziz(Director)
Mr. Mohammed Khalid Abdul Aziz(Director)
Mr. Mohammed Salim(Director)


Yarn and cotton
defaulter to SECP
Ravi Textile Mills Ltd.

5/79, Usman Block, New Garden Town, Lahore.
Mr. Mohammad Iftikhar(Chief Executive) National Bank Of Pakistan M/s. Riaz Ahmad & Co.
Mr. Mohammad Waseem-ur-Rehman(Director) Bank Al-Falah Ltd.
Mr. Mohammad Shahid Iqbal(Director) NIB Bank Ltd.
Mr. Aftab Sarwar(Director) Habib Metropolitan Bank Limited
Mr. Tahir Majeed(Director) The Bank Of Punjab
Mr. Shabbir Ahmad Alvi(Director)
Mr. Mohammad Ayub (NIT)(Director)

yarn Kgs 265029 200990
230
Redco Textiles Ltd.
Redco Arcade, 78-E, Blue Area, Islamabad.
Mrs. Sarah Saif Khan(Chief Executive) United Bank Ltd. BDO Ebrahim & Co.
Mrs. Muneza Saif Khan(Director) Bank Alfalah Ltd.
Mrs. Samina Asad Khan(Director)
Mrs. Taufiqa Amanullah Khan(Director)
Mr. Ahsan-ur-Rehman Khan(Director)
Mr. Imran Zia(Director)
Mr. Khalid Rehman(Director)

Yarn Lbs 16079766 12881623
Fabric Meters 12702000 10678325
Regent Textile Industries Ltd.

A-66 Manghopir Road, S.I.T.E., Karachi.
Mr. Akber Ali Hashwani(Chairman) Bank Al-Habib Ltd. M/s. Daudally Lalani & Co.
Mr. Amin A.Hashwani(Chief Executive) Metropolitan Bank Ltd.
Mrs. Farieha A. Hashwani(Director) Muslim Commercial Bank Ltd.
Mr. Aziz Kanani(Director) Bank Al-Falah Ltd.
Mrs. Sultana A. Hashwani(Director)
Mr. Nizam A. Hashwani(Director)
Mr. Abdullah A. Hashwani(Director)

Yarn Kgs 5879840 5811635
231
Reliance Cotton Spinning Mills Ltd.
312, Cotton Exchange Building, I.I.Chundrigar Road, Karachi.
Mr. Mohammad Abdullah(Chairman) National Bank Of Pakistan M/s. M. Yousuf Adil Saleem & Co
Mr. Yousaf Abdullah(Chief Executive) Habib Bank Ltd.
Mr. Shahid Abdullah(Director)
Mr. Mohammad Yamin(Director)
Mr. Mohammad Younus(Director)
Mr. Nadeem Abdullah(Director)
Mr. Amer Abdullah(Director)

Yarn Kgs 21894873 22051825
Reliance Weaving Mills Ltd.

2nd Floor, Trust Plaza, L.M.Q. Road, Multan.
Mr. Fawad Ahmed Mukhtar(Chairman) Allied Bank Of Pakistan Ltd. M/s. KPMG Taseer Hadi & Co.
Mr. Fazal Ahmed Sheikh(Chief Executive) United Bank Ltd.
Mrs. Ambreen Fawad(Director) Habib Bank Ltd.
Mrs. Farah Faisal(Director) Muslim Commercial Bank Limited
Mrs. Fatima Fazal(Director) Meezan Bank Ltd.
Mr. Shahid Aziz (NIT)(Director) National Bank of Pakistan
Mr. Faisal Ahmed Mukhtar(Director) Saudi Pak Commercial Bank Ltd.

Weaving Meters 56507813 52228732
Spinning Kgs 11973096 10543958
232
Resham Textile Industries Ltd.
314-Upper Mall, Lahore.
Ch. Mohammad Khurshid(Chief Executive) First National Bank Modaraba M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Muhammad Ali Chaudhry(Director) Orix Leasing Pakistan Ltd.
Ch. Rahman Bakhsh(Director) Albaraka Islamic Inv. Bank
Miss. Kiran A. Chaudhry(Director) Orix Investment Bank Of Pakistan Ltd.
Mrs. Salma Aziz(Director) Royal Bank of Scottland
Mr. Kamran Ilyas(Director) Bank Alfalah Ltd.
Mr. Azhar Khurshid Chaudhry(Director) The Bank Of Punjab

Yarn kgs 14102609 12437813
Ruby Textile Mills Ltd.

203-Faiyaz Centre, 2nd Floor, 3-A, S.M.C.H.S., Shahrah-e-Faisal, Karachi.
Mr. Noor Elahi(Chairman & C.E.) Standard Chartered Bank Mushtaq & Co.
Mrs. Parveen Elahi(Director) Bank Al-Habib Ltd.
Mr. Ikram Elahi(Director) National Bank Of Pakistan
Mrs. Naheed Javed(Director) Habib Bank AG. Zurich
Mr. Mansoob A. Akhtar (NIT)(Director) Muslim Commercial Bank Ltd.
Mr. Javed Usman(Director) Metropolitan Bank Ltd.
Mr. Nabil Javed(Director) Crescent Commercial Bank Ltd.

Yarn Kgs 8651230 6752940
233
Safa Textiles Ltd.
Plot No. 26 & 26/1 Sector 12-D, Industrial Area, North Karachi. Karachi.
Mr. Syed Iqbal Hussain(Chairman & C.E.) Bank Alfalah Ltd. M/s.Rahman Sarfaraz Rahim, Iqbal, Rafiq
Mrs. Sabeen Tarique(Director) Habib Metorpolitan Bank Ltd.
Mrs. Seema Adnan(Director) Standard Chartered Bank Ltd,
Mr. Adnan Iqbal(Director) NIB Bank Ltd.
Miss Hamna Husain(Director)
Mr. Syed Tarique Husain(Director)
Mrs. Farhat Iqbal(Director)

Yarn and cotton - -
Saif Textile Mills Ltd.

APTMA House, Tehkal Payan, Jamrud Road, Peshawar.
Mr. Javed Saifullah Khan(Chairman/ C.E.) The Hong Kong & Shanghai Banking Corporation Ltd M/s. Hameed Chaudhri & Co.
Mr. Osman Saifullah Khan(Director) ING Asia Private Bank Ltd.
Mrs. Hoor Yousafzai(Director) Allied Bank Ltd.
Chaudhri Maqbool Ahmad(Director) Faysal Bank Ltd.
Mr. Jehangir Saifullah Khan(Director) Albaraka Islamic Investment Bank B.S.C (E.C)
Mr. Muhammad Ayub (NIT)(Director) Natioanl Bank of Paksitan
Mr. Omer Saifullah Khan(Director) The Bank of Punjab

Yarn Kgs 97147000 92860000
234
Saitex Spinning Mills Ltd.
250-Street No.5, Cavalry Ground, Lahore Cantt:
Mian. M. Iqbal Saigol(Chairman & C.E.) Union Bank Limited M/s. Sheikh & Chaudhry
Mr. Munsif Ali Alvi(Director) Askari Commercial Bank Limited
Mrs. Farhat Siddiqui(Director) Muslim Commercial Bank Ltd.
Khawaja M. Sadiq(Director) National Bank Of Pakistan
Mian M. Nadeem Saigol(Director) Industrial Development Bank Of Pakistan
Mian M. Samir Saigol(Director) Allied Bank Of Pakistan Ltd.
Mr. Mohammad Asif (NIT)(Director) Habib Bank Ltd.

Yarn Kgs 4917219 0
Sajjad Textile Mills Ltd.

19-B, Off Zafar Ali Road, Gulberg-V, Lahore
Mr. Muhammad Asim Sajjad(Chief Executive) Habib Metropolitan Bank Limited M/s. Fazal Mahmood & Co.
Mr. Salman Muhammad Aslam(Director) National Bank Of Pakistan
Mrs. Samia Asim(Director) United Bank Ltd.
Mr. Sameen Ahmad(Director)
Mr. Aftab Anwar(Director)
Mr. Muhammad Amjad(Director)
Miss. Batool Zahra(Director)

Yarn Kgs 7113862 6517000
235
Saleem Denim Industries Ltd.
33-K.M. Sheikhupura Road, Faisalabad.
Mr. Tahir Saleem Chaudhry(Chairman/ C.E.) Allied Bank of Pakistan Ltd. M/s. M. Ather & Company
Mr. Shahid Saleem Chaudhry(Director) MCB Bank Ltd.
Mrs. Sobia Saleem(Director)
Mr. Abdul Haq Chaudhry(Director)
Mrs. Nosheen Shahid(Director)
Mr. Abdul Aziz Chaudhry(Director)
Mr. Ghulam Farid(Director)


Yarn
defaulter to SECP
Salfi Textile Mills Ltd.

8, 8th Floor, Textile Plaza, M. A. Jinnah Road, Karachi.
Mr. Anwar Ahmed Tata(Chairman / C.E.) Soneri Bank Ltd. M/s. M.Yousuf Adil Saleem & Co.
Mr. Shahid Anwar Tata(Director) Habib Metropolitan Bank Ltd.
Mr. Farooq Advani(Director) Allied Bank Limited
Mr. Adeel Shahid Anwar Tata(Director) MCB Bank Ltd.
Mr. Jawed Ahmed(Director) KASB Bank Ltd.
Mr. Kauser Ejaz(Director)
Mr. Aijaz Ahmed Tariq(Director)

Yarn Kgs 12357535 13947306
236
Sally Textile Mills Ltd.
97-Shadman, Lahore-3
Mian Iqbal Salah-ud-Din(Chief Exec. Officer) MCB Bank Ltd. M/s. Rahman Sarfaraz Rahim Iqbal Rafiq
Mst. Munira Salah-ud-Din(Director) Meezan Bank Ltd.
Sheikh Abdul Salam(Director) Askari Commercial Bank Ltd.
Mian Asad Salah-ud-Din(Director) National Bank Of Pakistan
Mian Yousaf Salah-ud-Din(Director)
Mian Sohail Salah-ud-Din(Director)
Mr. Muhammad Rafiq Khan(Director)

yarn Kgs 6547000 6207666
Salman Noman Enterprises Ltd.

3-KM Balloki Road, Bhaipheru, Distt: Kasur
Mrs. Shamim Almas(Chairperson) M/S Mushtaq & Co.
Mian Nauman Almas Sheikh(Chief Executive)
Mrs. Fareeha Pervaiz(Director)
Mr. Waseem K. Haq(Director)
Mrs. Shumaila Azeem(Director)
Mrs. Shahmeen Almas Sheikh(Director)
Mr. Mansoob Akhtar (NIT)(Director)

yarn Kgs 6955756 8627214
237
Samin Textiles Ltd.
50-C, Main Gulberg, Lahore.
Mr. Sarmad Amin(Chairman/Chief Exec.) National Bank Of Pakistan M/s. Anjum Asim, Shahid Rehman & Co.
Mr. Jamil Masud(Director) Bank Al-Falah Ltd.
Mr. Tariq Jilani(Director) NIB Bank Ltd.
Mr. Bunyad Hussain Shah(Director) Askari Commercial Bank Limited
Mr. Nadeem Saeed(Director) Allied Bank Limited
Mr. Safdar Hussain Tariq(Director) Pak Kuwait Investment Co. Ltd.
Mr. Asad Ahmad Jan(Director) My Bank Ltd.

Fabric Running meters 23869561 21740396
Sana Industries Ltd.

SF Unit No. 96, S.I.T.E., P.O.Box No. 10651, Karachi.
Mr. Mohammed Yousuf(Chairman) Metropolitan Bank Ltd. Ford Rhodes Sidat Hyder & Co.
Mr. Mohammed Younus Nawab(Chief Executive
Hafiz Mohammed Irfan Nawab(Director)
Mr. Mohammed Junaid Nawab(Director)
Mr. Mohammed Tariq Yousuf(Director)
Mr. Ibrahim Younus(Director)
Mr. Kemal Shoaib (NIT)(Director)

yarn Kgs 4184784 2286830
238
Sapphire Fibres Ltd.
316-Cotton Exchange Building, I.I.Chundrigar Road, Karachi.
Mr. Mohammad Abdullah(Chairman) Habib Bank Ltd. M/s. Hameed Chaudhry & Co.
Mr. Shahid Abdullah(Chief Executive) National Bank of Pakistan
Mr. Yousuf Abdullah(Director) ABN AMRO Bank
Mr. Mohammad Younus(Director) Citibank N.A.
Mr. Muhammad Yamin(Director)
Mr. Nadeem Abdullah(Director)

Spinning Lbs 60673143 59997231
Dyeing Lbs 7243831 3916161
Knitting Lbs 13670700 5993926
Sapphire Textile Mills Ltd.

212, Cotton Exchange Building, I. I. Chundrigar Road, Karachi.
Mr. Mohammad Abdullah(Chairman) Citibank N.A. M/s. Mushtaq & Co.
Mr. Nadeem Abdullah(Chief Executive) Habib Bank Ltd.
Mr. Yusuf Abdullah(Director) Standard Chartered Bank
Mr. Mohammad Yamin(Director) United Bank Ltd.
Mr. Mohammad Younus(Director) Muslim Commercial Bank Ltd.
Mr. Shahid Abdullah(Director) The Royal Bank of Scotland Ltd.

Spinning Lbs 82398883 84202293
239
Sargodha Spinning Mills Ltd.
A-601/B, City Towers, 6-K, Main Boulevard Gulberg II Lahore.
Mian Farrukh Naseem(Chief Executive) Habib Bank Ltd. Riaz Ahmad & Co.
Mian Aamir Naseem(Chairman) Bank Alfalah Ltd.
Mr. Irfan Qamar(Director) NIB Bank Ltd.
Mrs. Hina Farrukh(Director) National Bank Of Pakistan
Mr. Shahid Mehmud(Director)
Mian Shahzad Aslam(Director)
Syed Arif Hussain(Director)

Yarn Kgs 23832000 22544000
Saritow Spinning Mills Ltd.

Mr. M. Naseem Saigol(Chairman) My Bank Ltd. M/s. Rehman Sarfaraz Rahim Iqbal Rafiq & Co.
Mr. M. Azam Saigol(Chief Executive) Bank of Punjab Ltd.
Mr. Shahid Sethi(Director) National Bank Of Pakistan
Mr. Muhammad Asif Bajwa(Director) MCB Bank Ltd
Mr. Muhammad Athar Rafiq(Director) Faysal Bank Ltd.
Mr. Saeed Mian Ansari(Director) Habib Bank Ltd.
Mr. Aziz Hussain (NIT)(Director) Standard Chartered Bank Ltd.

Yarn Kgs 1499112 1366244
240
Service Fabrics Ltd.
Naeem Chowk, 23, Syed Mauje-e-Darya Road, Lahore.
Mr. Farooq Hameed(Chief Executive) National Bank Of Pakistan M/s. M. Hussain Chaudhry & Co.
Mr. Tariq Hameed(Director)
Mr. Ijaz Hameed(Director)
Mr. Aamer Hameed(Director)
Mr. Muhammad Hameed(Director)
Mr. Abid Hussain(Director)
Mr. Bilal Mustafa(Director)

Yarn L.Meters 22300000 0
Service Industries Textiles Ltd.

38-Empress Road, Lahore.
Mr. Muhammad Hameed(Chief Executive) Habib Bank Ltd. M. Hussain Chaudhry & Co.
Mr. Tariq Hameed(Director) Bank Of Punjab
Mr. Murtaza Hameed(Director) National Bank Of Pakistan
Mr. Ijaz Hameed(Director)
Mr. Aamer Hameed(Director)
Mr. Abid Hussain(Director)
Mr. Farooq Hameed(Director)

Yarn Kgs 2254800 1384206
241
Shadab Textile Mills Ltd.
A-601/A, City Towers, 6-K Main Boulevard, Gulberg-II, Lahore.
Mian Aamir Naseem(Chief Executive) Bank Alfalah Ltd. M/S. Fazal Mahmood & Co.
Mr. Mazhar Hussain(Director) National Bank Of Pakistan
Mian Farrukh Naseem(Director)
Mian Sajjad Aslam(Director)
Mian Shahzad Aslam(Director)
Syed Arif Hussain(Director)
Mst. Nusrat Shamim(Director)

yarn Kgs 14226524 13753191
Shadman Cotton Mills Ltd.

201,202-Commerce Centre, Hasrat Mohani Road, Karachi.
Mr. Zahid Mazhar(Chief Executive) Askari Commercial Bank Ltd. M/s. Mushtaq & Co.
Mr. Shahid Mazhar(Director) United Bank Limited
Mst. Ghazala Shahid(Director) Soneri Bank Ltd.
Mst. Naila Zahid(Director) Habib Bank Ltd.
Mst. Rafia Sultana(Director) MCB Bank Ltd
Mr. Omer Bin Zahid(Director) Bank Alfalah Ltd.
Mr. Ahmed Bin Shahid(Director) The Bank of Punjab

yarn Kgs 25626904 25153200
242
Shaheen Cotton Mills Ltd.
19-A off Zafar Ali Road, Gulberg-V, Lahore.
Mian Pervez Aslam(Chief Executive) Habib Metropolitan Bank Ltd. M/s. M. Hussain Chaudhry & Co.
Lt. Col. (R) Abdul Qayyum(Director) National Bank Of Pakistan
Chaudhry Hakim Ali(Director) NIB Bank Ltd.
Mr. Hassan-ud-Din Ansari(Director) Bank Alfalah Ltd.
Mr. Humayun Bakht(Director)
Mr. Imran Aslam(Director)
Mr. Rashid Ahmed(Director)

Yarn Kgs 12422384 11970070
Shahpur Textile Mills Ltd.

FB-3, 1st Floor, Awami Complex, Usman Block, New Garden Town, Lahore.
Mr. Nazir Ahmed Peracha(Chairman / C.E.) MCB Bank Ltd. M/s. Anjum Asim Shahid Rehman
Mrs. Qamar Nazir Peracha(Director) Natioanl Bank of Paksitan
Mrs. Uzma Asif Khan(Director) Saudi Pak Commercial Bank Ltd.
Mrs. Cyma Fazal Peracha(Director)
Mr. Hafiz Laeeq Ahmed(Director)
Mr. Arshad Iqbal Peracha(Director)
Mr. Muhammad Ayub(Director)

Yarn Kgs. 5543046 3615142
243
Shahtaj Textile Ltd.
100-B/3, M.M.Alam Road, Gulberg-III, Lahore.
Mr. Muneer Nawaz(Chairman) Habib Bank Ltd. M/s. M.Yousuf Adil Saleem & Co.
Mr. M. Naeem(Chief Executive) MCB Bank Ltd
Mr. Farooq Hassan (NIT)(Director) The Bank Of Punjab
Mrs. Sadia Mohammad(Director) United Bank Ltd.
Mrs. Bushra Mahmood Nawaz(Director) Union Bank Ltd.
Mr. Mohammad Nawaz(Director) Bank Al-Falah Ltd.
Lt. Col. (Retd.) R. D. Shams(Director) Standard Chartered Bank ( Pakistan) Ltd.

Shahzad Textile Mills Ltd.

19-A, Off Zafar Ali Road, Gulberg-V, Lahore.
Mr. Imran Aslam(Chief Executive) Atlas Bank Ltd. M/s. M. Hussain Chaudhury & Co.
Mian Parvez Aslam(Director) NIB Bank Ltd.
Chaudhry Hakim Ali(Director) Security Leasing Corporation Ltd.
Mr. Rashid Ahmed(Director) Habib Metropolitan Bank Ltd.
Mr.Humayun Bakht(Director)
Lt.Col.(R) Abdul Qayum(Director)
Mr.Hasan-ud-Din Ansari(Director)

yarn Kgs 22634106 19601009
244
Shams Textile Mills Ltd.
7-B/111, Aziz Avenue, Gulberg-V, Lahore.
Mr. Muhammad Anwar(Chairman) The Bank Of Punjab M/s. BDO, Ebrahim & Co.
Mr. Khalid Bashir(Chief Executive) Allied Bank of Pakistan
Mr. Nadeem Maqbool(Director) MCB Bank Ltd
Mr. Gul Nawaz (NIT)(Director) First National Bank Modaraba
Mr. Asif Bashir(Director) The Royal Bank of Scotland Ltd.
Mr. Adil Bashir(Director) Habib Bank Limited
Mr. Amjad Mahmood(Director) Natioanl Bank of Paksitan

yarn Kgs 22202165 21228608
Sind Fine Textile Mills Ltd.

Jacobabad Road, Shikarpur,
Mr. Iftikhar Ahmed Soomro(Chairman / C.E.O.) Habib Bank Ltd. M/s. Ebrahim & Co.
Begum Parveen I. Soomro(Director)
Mrs. Nasreen I. Soomro(Director)
Mr. Mohammad Omer Soomro(Director)
Ms. Huma Soomro(Director)
Ms. Mona Soomro(Director)
Mr. Nusair Ahmed Soomro(Director)

Ceased production may,2003
245
Sunrays Textile Mills Ltd.
5th Floor, 508, Beaumount Plaza, Civil Lines Quarters Karachi.
Mian Riaz Ahmed(Chairman) Soneri Bank Ltd. M. Yousuf Adil Saleem & Co
Mr. Kashif Riaz(Chief Executive) Muslim Commercial Bank Ltd.
Mr. Shahzad Ahmed(Director) United Bank Ltd.
Mr. Irfan Ahmed(Director) Allied Bank Limited
Mr. Imran Ahmed(Director)
Mr. Shafqat Masood(Director)
Mian Muhammad Ahmed(Director)

yarn Kgs. 11293286 9837757
Sunshine Cotton Mills Ltd.

112-B, Main Gulberg Road, Lahore.
Mian Aftab A. Sheikh(Chairman) Habib Bank Ltd. M/s. Karamat Chaudhri & Co.
Mrs. Nasreen Aftab(Director)
Miss. Aliya Aftab(Director)
Mr. Hassan Aftab(Director)
Mr. Muhammad Arshad Khan(Director)
Mr. Muhammad Ishaq(Director)
Mr. Muhammad Saleem Zia(Director)


Yarn and cotton
defaulter to SECP
246
Suraj Cotton Mills Ltd.
7-B-III, Aziz Avenue, Gulberg-V, Lahore.
Mr. Khalid Bashir(Chairman) United Bank Ltd. M/s. Ebrahim & Co.
Mr. Nadeem Maqbool(Chief Executive) MCB Bank Ltd
Mr. Humayun Maqbool(Director) Royal Bank of Scottland
Mr. Muhammad Nawaz Tishna (NIT)(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Ahsan Bashir(Director) National Bank Of Pakistan
Mr. Asif Bashir(Director) Allied Bank of Pakistan Ltd.
Mr. Amjad Mahmood(Director) The Bank of Punjab

Spinning Kgs 38885040 38028644
Taha Spinning Mills Ltd.

406-Commerce Centre, Hasrat Mohani Road, Karachi.
Mr. Ashfaq Ahmed(Chief Executive) NIB Bank Ltd. A. R. Khan & Co.
Mr. Ikhlaq Husain(Director) National Bank Of Pakistan
Mr. Muhammad Farooq(Director) Askari Commercial Bank Ltd.
Mr. Niaz Mohammad(Director)
Mr. Saleem Abbas(Director)
Mr. Saqib Ashfaq(Director)
Mr. Amir Ashfaq(Director)

Yarn Kgs 3459535 1917447
247
Taj Textile Mills Ltd.
Office-1, 1st Floor, 1-K, Commercial Zone, Block-K, Model Town, Lahore.
Mr. Jahangir Elahi(Chairman & C.E.) National Bank Of Pakistan M/s. Zahid Jamil & Co.
Mr. Shahrukh Elahi(Director) Habib Bank Ltd.
Mr. Tanvir Elahi(Director) Standard Chartered Bank
Mr. Tariq Latif(Director) United Bank Ltd.
Sh. Muhammad Ashraf(Director) NIB Bank Ltd.
Mr. Muhammad Ashfaq Nadeem(Director) Allied Bank Of Pakistan Ltd.
Mr. Amir Jahangir(Director) Crescent Commercial Bank Ltd.

Yarn Lbs 36573553 -
Fabric L. meters 12779847 -
Tata Textile Mills Ltd.

8, 8th Floor, Textile Plaza, M. A. Jinnah Road, Karachi.
Mr. Anwar Ahmed Tata(Chairman) Soneri Bank Ltd. M. Yousuf Adil Saleem & Co.
Mr. Shahid Anwar Tata(Chief Executive) Faysal Bank Ltd.
Mr.Farooq Advani(Director) National Bank Of Pakistan
Mr.Muhammad Ayub(NIT)(Director) The Royal Bank of Scotland Ltd.
Mr. Muhammad Waris Magoon(Director) Muslim Commercial Bank Ltd.
Mr. Shahid Aziz (NIT)(Director) Bank Alfalah Ltd.
Mr. Adeel Shahid Anwar Tata(Director) Habib Metropolitan Bank Ltd.

Yarn Kgs 13088089 15038069
248
The Crescent Textile Mills Ltd.
40-A, Off Zafar Ali Road, Gulberg-V, Lahore.
Mr. Muhammad Anwar(Chairman & C.E.) United Bank Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Ahmed Shafi(Director) National Bank Of Pakistan
Mr. Khalid Bashir(Director) Faysal Bank Ltd.
Mr. Tariq Shafi(Director) Habib Bank Ltd.
Mr. Muhammad Arshad(Director) Albaraka Islamic Investment Bank B.S.C (E.C)
Mr. Nasir Shafi(Director) Allied Bank Of Pakistan Ltd.
Mr. Firasat Ali (NIT)(Director) NIB Bank Ltd.

spinning Th. kgs 38562 36339
Weaving Th. Sq. meters 97078 80618
Towel Th. kgs 654 400
Towellers Ltd.
WSA-30/31, Block-1, Federal 'B' Area, Karachi.
Mr. S. M. Obaid( C.E.O.) Soneri Bank Ltd. M/s. Mushtaq & Co.
Mrs. Suraiya Junaid(Chairperson) The Hongkong & Shanghai Banking Corp. Ltd.
Mr. Tariq Muhammad Khan(Director) Askari Commercial Bank Ltd.
Mr. Shaheer Hasan Siddiqui(Director) Standard Charted Bank Ltd.
Mr. Jawed Ashfaq(Director) Metropolitan Bank Ltd.
Miss. Mehreen Obaid(Director) KASB Bank Ltd.
Mr. Nasir A. Khan(Director) Saudi Pak Commercial Bank Ltd.

Bed sheets
249
Usman Textile Mills Ltd.
406, 4th Floor, Trade Center, I.I.Chundrigar Road, Karachi.
Mr. Muhammad Zaheeruddin(Chairman) Bank Al-Falah Ltd. M/s. Haroon Zakaria & Co.
Mr. Noor Qadir(Chief Executive)
Mr. Khalid Abid M. Shah(Director)
Mr. Syed Tajuddin(Director)
Mr. Haroon Shekha(Director)
Mr. Nadeem Aslam(Director)
Mr. Muhammad Yusufuddin(Director)

Sold Plant & Machinery
Yousaf Weaving Mills Ltd.

Kashana-e-Yousaf Khawaja Street, Chakwal.
Khawaja Mohammad Jawed(Chairman) Faysal Bank Ltd. M/s. Hussain Chaudhry & Co.
Khawaja Mohammad Nadeem(Chief Executive) Habib Metropolitan Bank Limited
Khawaja Mohammad Tanveer(Director) Natioanl Bank of Paksitan
Khawaja Mohammad Jahangir(Director)
Khawaja Mohammad Kalim(Director)
Khawaja Mohammad Naveed(Director)
Mr. Mohammad Aman(Director)

Yarn Kgs 9358132 8768785
250
Zahidjee Textile Mills Ltd.
20,Bilal Road, Civil Lines, Faisalabad.
Mr. Muhammad Zahid(Chairman & C.E.) United Bank Ltd. M/s. Avais Hyder Liaquat Nauman
Mst. Huma Zahid(Director) Faysal Bank Ltd.
Mr. Muhammad Qasim(Director) Allied Bank Limited
Mst. Fouzia Shahani(Director) National Bank of Pakistan
Mr. Naveed Ahmad(Director) Bank Alfalah Ltd.
Mr. Chand Sohail(Director) Standard Charted Bank Ltd.
Mst. Asma Makhdoom(Director) The Bank of Punjab

Sinning Kgs 15700624 14922017
Weaving Sq.Meter 42536384 33422745
Zahur Cotton Mills Ltd.

94th K.M. Lahore-Multan Road, Near Pul Jaurian, Akhtarabad, Okara.
Mr. Javed Zahur(Chairman & C.E.) Muslim Commercial Bank Ltd. M/s. Tariq Ayyub Anwar & Co.
Mr. M. Nadeem(Director) Union Bank Ltd.
Mr. Nazir Akhtar(Director) Bank Al-Habib Ltd.
Mr. Khan Muhammad(Director) Prime Commercial Bank Ltd.
Mr. Muhammad Ayub (NIT)(Director)
Mr. Zahid Nadeem(Director)
Mr. Fazal Hussain(Director)


fabric Sq. meters 10204733
defaulter to SECP
251
Zephyr Textiles Ltd.
3rd Floor, IEP Building, 97-B/D-I, Gulberg-III, Lahore.
Mr. Mussaid Hanif(Chairman / C.E.O.) Allied Bank Limited M/s. Anjum Asim Shahid Rahman
Mr. Burhan Muhammad Khan(Director) Habib Bank Ltd.
Mr. Arbab Muhammad Khan(Director) National Bank of Pakistan
Mr. Manzar-ul-Islam(Director) The Bank of Punjab
Mr. Gauhar Abdul Hai(Director) United Bank Ltd.
Ms. Tahniyat Mussaid(Director) Faysal Bank Ltd.
Ms. Sabah Burhan(Director) NIB Bank Ltd.

Fabric Sq.meters 7,400,000 7,300,000
252
OTHER TEXTILE SECTOR
Other Textile Sector (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 10436.0 10936.7 12646.2 15259.7 15927.7 11383.3
5.Debentures 1076.3 169.6 169.6 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2068.9 7973.8 7970.5 9557.6 10519.0 10910.1
(i)Cash 1379.7 1417.7 1409.9 1189.1 1134.9 974.7
(ii)Investments 689.2 6556.1 6560.6 8368.5 9384.1 9935.4
3.Inventories 10042.3 13952.0 18184.2 15674.4 15775.3 17590.9
C.Fixed Assets:
4.Total assets (B4+C2) 47362.4 56443.6 60414.1 64942.2 65897.6 69799.0
D.Operation:
1.Gross sales 51727.5 60698.7 52303.1 54764.9 53757.3 57135.2
(i)Local sales 45081.5 57035.3 43095.8 45979.3 43743.4 45883.2
(ii)Export sales 6645.9 3663.4 9207.3 8785.6 10013.9 11252.0
2.Cost of Sales 47064.4 54954.7 48343.5 49692.5 50166.1 54895.5
3.Gross profit 4663.1 5744.0 3959.6 5072.4 3591.2 2239.7
8.Tax provision 417.6 670.4 334.5 502.7 384.7 525.3
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 36.4 -29.5 193.7 -97.4 122.4
255
Other Textiles

260
240
220
200
180
160
140
%
120
100
80
60
40
20
0
2003 2004 2005 2006 2007 2008
30 5
4
25
3
20
2
Rupees
15
1
%
10 0
5 -1
0 -2
-3
-5
2003 2004 2005 2006 2007 2008 -4
2003 2004 2005 2006 2007 2008
256
Adil Polypropylene Products Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -9.3 -101.5 -101.5 -102.8 -102.8 -102.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 4.2 4.2 0.0 0.0 0.0
(i)Cash 0.0 4.2 4.2 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 9.1 1.9 1.9 6.1 6.1 13.9
C.Fixed Assets:
4.Total assets (B4+C2) 123.4 27.1 27.1 26.4 26.4 26.4
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - - -775.0 33.3 -75.0 -75.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -100.0 - - - - -
257
Al-Abid Silk Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 530.9 556.7 984.0 1028.9 1190.2 1386.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 39.5 74.7 122.4 26.4 42.6 10.8
(i)Cash 39.5 74.7 122.4 26.4 42.6 10.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 1306.1 1647.7 2532.1 2827.8 3151.3 4313.9
C.Fixed Assets:
4.Total assets (B4+C2) 2830.5 3441.3 5177.4 5394.1 5748.1 7056.4
D.Operation:
1.Gross sales 3124.5 2846.1 3539.9 4454.9 4584.9 5495.6
(i)Local sales 82.2 2744.0 111.2 257.6 152.8 84.1
(ii)Export sales 3042.3 102.1 3428.7 4197.3 4432.1 5411.5
2.Cost of Sales 2662.9 2434.7 3008.4 3732.9 3987.6 4813.6
3.Gross profit 461.6 411.4 531.5 722.0 597.3 682.0
8.Tax provision 25.0 23.9 28.3 45.5 46.6 56.1
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -9.5 -8.9 24.4 25.8 2.9 19.9
258
Bannu Woollen Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 340.3 464.0 459.7 449.1 477.1 237.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.9 7.0 7.2 30.0 37.5 32.1
(i)Cash 1.3 0.4 0.6 0.6 7.1 0.6
(ii)Investments 6.6 6.6 6.6 29.4 30.4 31.5
3.Inventories 47.5 79.0 132.4 95.3 109.6 140.0
C.Fixed Assets:
4.Total assets (B4+C2) 572.5 718.4 658.1 619.1 669.0 713.6
D.Operation:
1.Gross sales 293.8 269.1 147.8 288.9 296.0 332.2
(i)Local sales 293.8 269.1 147.8 288.9 296.0 332.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 234.7 230.3 127.7 213.7 222.0 319.7
3.Gross profit 59.1 38.8 20.1 75.2 74.0 12.5
8.Tax provision 10.6 4.2 4.2 16.5 14.8 16.3
F.Cash Flow Data
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 4.1 2.2 -0.5 4.3 5.3 -4.4
259
Colony Woollen Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -3.0 -3.5 -3.5 -3.5 -3.5 -3.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.0 0.0 0.0 0.0 0.0
(i)Cash 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 1.1 0.5 0.5 0.5 0.5 0.5
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
260
Dewan Salman Fibre Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 2743.0 2896.9 2575.4 4964.8 4133.4 -767.3
5.Debentures 906.7 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 323.3 266.8 434.3 546.4 432.5 235.4
(i)Cash 323.3 266.8 349.5 294.2 155.3 87.4
(ii)Investments 0.0 0.0 84.8 252.2 277.2 148.0
3.Inventories 4054.4 6239.6 7837.1 6844.0 6634.5 4683.6
C.Fixed Assets:
4.Total assets (B4+C2) 18437.6 19705.0 20352.3 24767.2 23545.7 21472.8
D.Operation:
1.Gross sales 18660.9 21122.3 19470.9 16732.6 15021.5 10762.2
(i)Local sales 18660.9 21122.3 17051.2 15573.6 13940.2 9991.1
(ii)Export sales 0.0 0.0 2419.7 1159.0 1081.3 771.1
2.Cost of Sales 17222.6 19448.5 18378.8 15702.0 14749.4 13253.4
3.Gross profit 1438.3 1673.8 1092.1 1030.6 272.1 -2491.2
8.Tax provision 54.8 89.3 86.7 83.6 75.3 53.8
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -663.8 -569.0 -755.4 2472.0 -1275.9 -4179.6
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] - - -28.2 0.0 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 3.9 13.2 -7.8 -14.1 -10.2 -28.4
261
Gatron (Industries) Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1946.4 1932.4 2466.1 1705.4 1799.3 1898.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 428.9 323.1 321.3 316.0 320.7 395.2
(i)Cash 8.4 22.6 161.6 13.8 20.2 94.7
(ii)Investments 420.5 300.5 159.7 302.2 300.5 300.5
3.Inventories 1157.3 1441.1 1710.6 1662.4 1484.4 1719.4
C.Fixed Assets:
4.Total assets (B4+C2) 4285.3 4577.9 5256.9 5226.9 5245.2 5868.8
D.Operation:
1.Gross sales 5128.8 5918.4 5664.1 4839.9 6209.2 7056.5
(i)Local sales 4080.8 4968.8 5066.9 4488.2 5578.5 6105.6
(ii)Export sales 1048.0 949.6 597.2 351.7 630.7 950.9
2.Cost of Sales 4512.2 5326.0 5150.4 4488.0 5684.2 6271.2
3.Gross profit 616.6 592.4 513.7 351.9 525.0 785.3
8.Tax provision 94.3 95.8 25.2 23.7 30.1 17.2
F.Cash Flow Data
262
Harnai Woollen Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -268.3 -268.3 -268.3 -268.3 -268.3 -268.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.4 0.4 0.4 0.4 0.4 0.4
(i)Cash 0.4 0.4 0.4 0.4 0.4 0.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 24.9 24.9 24.9 24.9 24.9 24.9
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -14200.0 -14200.0 -14200.0 -14200.0 -14200.0 -14200.0
263
Ibrahim Fibres Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 2735.3 3157.7 3694.0 4647.2 5992.9 6441.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 333.9 6345.5 6328.4 7858.3 8833.1 9570.6
(i)Cash 333.9 135.3 118.2 268.1 297.5 244.6
(ii)Investments 0.0 6210.2 6210.2 7590.2 8535.6 9326.0
3.Inventories 1868.1 2559.2 3424.6 1629.9 2495.3 4173.3
9.Net liquid assets (B1-B5) -3246.3 977.7 906.7 2373.5 2192.6 855.7
C.Fixed Assets:
4.Total assets (B4+C2) 11330.5 18680.6 19066.3 18748.3 20650.1 23842.0
D.Operation:
1.Gross sales 13624.0 19286.8 11686.2 17216.5 16330.4 21557.3
(i)Local sales 13499.8 19230.4 11623.4 17161.5 16267.9 21447.4
(ii)Export sales 124.2 56.4 62.8 55.0 62.5 109.9
2.Cost of Sales 12434.0 17483.6 10747.3 15270.5 14699.9 19370.6
3.Gross profit 1190.0 1803.2 938.9 1946.0 1630.5 2186.7
8.Tax provision 57.5 82.3 48.8 262.2 132.5 262.9
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 21.0 -69.0 -416.1 219.3 165.2
264
Indus Polyester Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -55.5 124.6 96.3 87.9 76.6 56.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.6 1.4 0.2 0.4 0.2 0.2
(i)Cash 0.6 1.4 0.2 0.4 0.2 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 24.2 20.2 14.0 1.9 1.4 0.1
C.Fixed Assets:
4.Total assets (B4+C2) 351.0 319.6 286.8 269.6 255.6 237.5
D.Operation:
1.Gross sales 167.0 133.8 34.6 28.2 0.5 0.0
(i)Local sales 164.7 132.8 34.3 28.2 0.5 0.0
(ii)Export sales 2.3 1.0 0.3 0.0 0.0 0.0
2.Cost of Sales 191.6 149.0 61.6 37.0 14.4 1.9
3.Gross profit -24.6 -15.2 -27.0 -8.8 -13.9 -1.9
8.Tax provision 0.3 0.5 0.1 0.1 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -33.2 -71.7 -28.3 -8.4 -11.3 -20.4
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -17.4 -71.7 -14.4 4.8 0.9 148.4
7.Cash flow ratio F1 as % of F2 - - - 58.3 -366.7 32.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -26.9 -19.9 -74.1 -18.5 -98.2 -100.0
265
Karim Silk Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - - - -9.8 -9.8 -9.9
3.Shareholder's Equity (A1+A2) - - - 0.0 0.0 -0.1
5.Debentures - - - 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - - - 0.0 0.0 0.0
(i)Cash - - - 0.0 0.0 0.0
(ii)Investments - - - 0.0 0.0 0.0
3.Inventories - - - 0.0 0.0 0.1
7.Net Current Assets(B4-B5) - - - -0.1 -0.1 0.0
C.Fixed Assets:
4.Total assets (B4+C2) - - - 83.7 83.7 0.1
D.Operation:
1.Gross sales - - - 0.0 0.0 0.0
(i)Local sales - - - 0.0 0.0 0.0
(ii)Export sales - - - 0.0 0.0 0.0
2.Cost of Sales - - - 0.0 0.0 0.0
3.Gross profit - - - 0.0 0.0 0.0
4.Overhead and Other Expenses - - - 0.0 0.0 -0.1
7.Net profit before tax (D5-D6) - - - 0.0 0.0 0.1
8.Tax provision - - - 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - - 0.0 -
2.Retention in business (D7-D8-D9) - - - 0.0 0.0 0.1
3.Finance from outside the company (E1-E2) - - - - 0.0 -
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - 0.0 0.0 0.1
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - - 0.0 -
5.Return on assets (D7 as % of C4) - - - 0.0 0.0 100.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - - - 0.0 0.0 -1.0
4.Earning per share before tax (D7/No. of ordinary shares) - - - 0.0 0.0 0.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - - 0.0 0.0 0.1
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - -100.0 0.0 -90.0
10.Break-up value of ordinary shares (in rupees) - - - 0.0 0.0 -0.1
266
Kashmir Polytex Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -133.1 -139.3 -58.5 -206.7 -246.4 -246.4
3.Shareholder's Equity (A1+A2) -62.1 -68.3 12.5 -135.7 -175.4 -175.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.6 3.0 5.3 5.1 1.6 1.6
(i)Cash 0.6 3.0 5.3 5.1 1.6 1.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 58.4 79.2 87.1 69.7 4.9 4.9
C.Fixed Assets:
4.Total assets (B4+C2) 281.6 283.4 279.0 260.5 88.0 88.0
D.Operation:
1.Gross sales 147.0 192.2 251.8 230.8 83.8 83.8
(i)Local sales 20.9 56.2 112.4 146.7 66.6 66.6
(ii)Export sales 126.1 136.0 139.4 84.1 17.2 17.2
2.Cost of Sales 111.9 153.5 218.6 230.8 116.0 116.0
3.Gross profit 35.1 38.7 33.2 0.0 -32.2 -32.2
8.Tax provision 0.0 0.9 1.2 1.1 0.5 0.5
F.Cash Flow Data
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -87.5 -96.2 17.6 -191.1 -247.0 -247.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 37.5 30.7 31.0 -8.3 -63.7 0.0
10.Break-up value of ordinary shares (in rupees) -8.7 -9.6 1.8 -19.1 -24.7 -24.7
267
Liberty Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 331.6 421.7 647.8 621.9 950.1 1246.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 10.9 62.2 50.3 158.8 141.4 140.8
(i)Cash 10.9 59.9 47.8 158.3 139.2 137.8
(ii)Investments 0.0 2.3 2.5 0.5 2.2 3.0
3.Inventories 202.0 313.4 504.7 558.3 596.3 748.5
7.Net Current Assets(B4-B5) -269.8 -92.7 28.9 -286.1 28.6 387.4
C.Fixed Assets:
4.Total assets (B4+C2) 1774.9 1930.3 2453.3 2714.1 2978.4 3322.1
D.Operation:
1.Gross sales 2852.1 2820.4 3126.8 3783.8 4428.2 4602.1
(i)Local sales 700.4 597.1 854.7 1128.4 1014.5 946.5
(ii)Export sales 2151.7 2223.3 2272.1 2655.4 3413.7 3655.6
2.Cost of Sales 2468.5 2431.8 2685.8 3265.3 3790.3 3839.2
3.Gross profit 383.6 388.6 441.0 518.5 637.9 762.9
8.Tax provision 24.2 24.5 24.8 46.1 52.2 46.8
F.Cash Flow Data
268
Moonlite (Pak) Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -1.2 1.2 62.9 32.1 243.8 243.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.0 3.0 0.6 0.7 2.9 2.9
(i)Cash 1.0 3.0 0.6 0.7 2.9 2.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 144.9 164.1 176.2 152.9 126.8 126.8
C.Fixed Assets:
4.Total assets (B4+C2) 274.3 285.5 355.2 313.7 286.5 286.5
D.Operation:
1.Gross sales 271.5 240.4 320.3 249.6 156.6 156.6
(i)Local sales 243.9 219.6 246.8 176.8 141.8 141.8
(ii)Export sales 27.6 20.8 73.5 72.8 14.8 14.8
2.Cost of Sales 235.9 205.9 271.0 221.3 152.2 152.2
3.Gross profit 35.6 34.5 49.3 28.3 4.4 4.4
8.Tax provision 1.2 1.2 1.5 2.5 0.9 0.9
3.Finance from outside the company (E1-E2) -3.6 -38.3 38.8 -34.8 -74.0 -210.4
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 31.3 -11.5 33.2 -22.1 -37.3 0.0
269
Noor Silk Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -16.5 -16.3 -16.0 -16.1 -16.1 -14.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.1 0.4 0.8 1.1 0.9 1.4
(i)Cash 0.1 0.4 0.8 1.1 0.9 1.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 1.0 1.2 1.6 1.7 1.5 2.0
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.1 0.1 0.2 0.3 0.1 0.1
F.Cash Flow Data
270
Pak Fibre Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -169.1 -127.9 -135.4 -135.4 -135.4 -135.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.0 0.0 0.0 0.0 0.0
(i)Cash 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.3 0.0 3.9 3.9 3.9 3.9
C.Fixed Assets:
4.Total assets (B4+C2) 135.1 110.9 103.9 103.9 103.9 103.9
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 8.7 0.0 0.0 0.0 0.0 0.0
3.Gross profit -8.7 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -45.3 -6.3 - -8.6 -8.6 -8.6
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -100.0 - - - - -
271
Pakistan Synthetics Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 511.6 547.5 465.4 422.3 290.2 296.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 70.9 66.0 32.2 11.7 3.6 15.0
(i)Cash 70.9 66.0 32.2 11.7 3.6 15.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 292.6 308.8 411.5 413.1 294.6 683.2
C.Fixed Assets:
4.Total assets (B4+C2) 1392.5 1356.8 1301.7 1292.5 1274.3 1695.8
D.Operation:
1.Gross sales 2086.0 2225.7 1927.1 1873.0 1559.6 2284.3
(i)Local sales 2086.0 2223.0 1891.2 1873.0 1559.6 2284.3
(ii)Export sales 0.0 2.7 35.9 0.0 0.0 0.0
2.Cost of Sales 1972.2 2136.7 1937.1 1797.5 1601.2 2162.8
3.Gross profit 113.8 89.0 -10.0 75.5 -41.6 121.5
5.Operating profit 103.0 53.5 -50.2 36.3 -92.8 42.4
7.Net profit before tax (D5-D6) 95.6 47.3 -58.9 27.0 -102.8 23.4
8.Tax provision 69.0 14.3 8.4 0.7 7.8 11.4
3.Finance from outside the company (E1-E2) 3.9 2.9 -14.8 -13.4 45.9 -23.5
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 6.9 3.5 -4.5 2.1 -8.1 1.4
10.Financial expenses as % of operating profit (D6 as % of D5) 7.2 11.6 - 25.6 -10.8 44.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 72.2 30.2 - 2.6 -7.6 48.7
15.Return on Equity (D7 as % of A3) 8.9 4.3 -5.7 2.7 -12.1 2.7
3.Net profit margin (D7 as % of D1) 4.6 2.1 -3.1 1.4 -6.6 1.0
4.Earning per share before tax (D7/No. of ordinary shares) 1.7 0.8 -1.1 0.5 -1.8 0.4
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.5 0.6 -1.2 0.5 -2.0 0.2
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 9.8 6.7 -13.4 -2.8 -16.7 46.5
272
Polyron Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -190.1 -224.6 -255.7 -286.2 -286.2 -286.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 65.9 31.4 -83.7 -114.2 -114.2 -114.2
B.Liquidity:
1.Liquid Assets: 0.4 0.3 0.7 0.4 0.4 0.4
(i)Cash 0.4 0.3 0.7 0.4 0.4 0.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 96.9 55.2 65.7 43.8 43.8 43.8
C.Fixed Assets:
4.Total assets (B4+C2) 456.0 466.0 403.0 410.5 410.5 410.5
D.Operation:
1.Gross sales 154.9 327.3 381.3 239.5 239.5 239.5
(i)Local sales 154.9 327.3 381.3 239.5 239.5 239.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 190.5 353.3 404.9 260.1 260.1 260.1
3.Gross profit -35.6 -26.0 -23.6 -20.6 -20.6 -20.6
8.Tax provision 0.7 1.4 1.7 1.2 1.2 1.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 40.3 -34.5 -115.1 -30.5 0.0 0.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 71.8 -6.1 -84.6 -1.1 29.4 29.4
7.Cash flow ratio F1 as % of F2 -26.6 - - 100.0 -3.7 -3.7
1.Dividend cover ratio [(D7 - D8) as % of D9] - - - -1425.0 -1425.0 -1425.0
273
Rupali Polyester Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1575.1 1542.9 1808.8 1866.2 1708.3 1794.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 512.3 767.7 620.7 481.3 546.0 458.4
(i)Cash 512.3 767.7 560.6 403.9 458.1 366.6
(ii)Investments 0.0 0.0 60.1 77.4 87.9 91.8
3.Inventories 482.8 756.5 899.0 978.2 774.4 881.3
9.Net liquid assets (B1-B5) 239.4 404.0 416.7 284.0 -131.8 -58.5
C.Fixed Assets:
4.Total assets (B4+C2) 2199.6 2247.2 2353.6 2404.3 2726.9 2931.3
D.Operation:
1.Gross sales 3055.9 3794.1 4138.1 3538.0 4130.7 4241.0
(i)Local sales 2995.3 3745.4 4121.4 3538.0 4104.6 4241.0
(ii)Export sales 60.6 48.7 16.7 0.0 26.1 0.0
2.Cost of Sales 2808.1 3452.3 3867.2 3365.2 3925.6 3982.8
3.Gross profit 247.8 341.8 270.9 172.8 205.1 258.2
8.Tax provision 55.2 111.9 97.1 12.7 19.9 56.4
F.Cash Flow Data
274
S.G. Fibres Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 268.1 279.9 323.4 321.9 -21.5 -407.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 12.1 6.5 0.2 1.6 3.0 1.0
(i)Cash 12.1 6.5 0.2 1.6 3.0 1.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 219.3 264.9 363.1 329.6 25.2 23.4
C.Fixed Assets:
4.Total assets (B4+C2) 1279.4 1521.2 1543.2 1596.7 1182.0 1104.3
D.Operation:
1.Gross sales 1183.6 1265.6 1322.6 1005.3 384.3 0.0
(i)Local sales 1127.7 1144.2 1165.6 811.4 351.8 0.0
(ii)Export sales 55.9 121.4 157.0 193.9 32.5 0.0
2.Cost of Sales 1098.8 1095.4 1193.6 843.0 649.3 37.4
3.Gross profit 84.8 170.2 129.0 162.3 -265.0 -37.4
5.Operating profit -29.0 49.7 87.9 102.1 -301.6 -46.2
8.Tax provision 5.1 4.9 5.1 5.0 1.2 0.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 32.7 238.7 -49.1 48.3 -79.9 -292.9
10.Financial expenses as % of operating profit (D6 as % of D5) - 66.0 43.8 43.4 -11.8 -4.5
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 29.0 10.3 8.7 -0.4 0.0
15.Return on Equity (D7 as % of A3) -15.3 3.9 10.4 12.2 -262.4 0.0
3.Net profit margin (D7 as % of D1) -5.4 1.3 3.7 5.7 -87.7 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -1.0 6.9 4.5 -24.0 -61.8 -100.0
275
The National Silk & Rayon Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 52.7 56.7 64.9 63.2 54.1 62.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.8 3.3 2.9 1.1 1.7 9.3
(i)Cash 3.8 3.3 2.9 1.1 1.7 9.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 13.7 15.6 20.4 22.5 17.8 29.4
C.Fixed Assets:
4.Total assets (B4+C2) 156.8 170.7 194.4 210.5 210.7 273.0
D.Operation:
1.Gross sales 216.8 235.9 270.3 278.3 303.0 321.1
(i)Local sales 209.7 234.7 266.3 261.8 0.0 0.0
(ii)Export sales 7.1 1.2 4.0 16.5 303.0 321.1
2.Cost of Sales 193.4 5.6 242.5 251.8 279.5 300.6
3.Gross profit 23.4 230.3 27.8 26.5 23.5 20.5
8.Tax provision 1.3 214.9 1.2 1.5 1.5 1.6
2.Retention in business (D7-D8-D9) 3.8 -4.4 3.7 -1.9 -0.9 1.5
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] - -238.5 384.6 -72.7 0.0 0.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 3.4 -2.8 4.5 -0.7 -0.8 1.4
276
Tri-Star Polyester Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -166.0 -166.0 -166.0 75.4 92.0 -37.2
5.Debentures 169.6 169.6 169.6 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 36.1 36.1 36.1 115.7 150.4 34.5
(i)Cash 1.6 1.6 1.6 1.2 0.0 0.0
(ii)Investments 34.5 34.5 34.5 114.5 150.4 34.5
3.Inventories 0.0 0.0 0.0 35.3 4.9 1.5
7.Net Current Assets(B4-B5) -187.1 -187.1 -187.1 4.1 7.7 -111.1
C.Fixed Assets:
4.Total assets (B4+C2) 570.4 570.4 570.4 468.8 469.3 338.5
D.Operation:
1.Gross sales 17.7 17.7 17.7 1.9 29.1 3.1
(i)Local sales 17.7 17.7 17.7 1.9 29.1 3.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 47.7 47.7 47.7 12.7 34.3 13.9
3.Gross profit -30.0 -30.0 -30.0 -10.8 -5.2 -10.8
8.Tax provision 0.0 0.0 0.0 0.0 0.1 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -65.7 -65.7 -65.7 -0.6 4.7 -1.8
7.Cash flow ratio F1 as % of F2 -1368.8 -1368.8 -1368.8 -0.8 123.7 1.5
10.Financial expenses as % of operating profit (D6 as % of D5) - - - 0.0 0.0 -6.1
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - 0.0 -1.7 0.0
277
Adil Polypropylene Products Ltd.
Plot No.31, St.No.2, Gadoon Amazai Industrial Estate, Gadoon Distt: Swabi, N.W.F.P.
Mr. Faisal Mahmood(Chief Executive) Habib Bank Ltd. M/s. Mansha Mohsin Dossani Khan & Co.
Mr. Zafar Hussain(Director) National Bank Of Pakistan
Mr. Mohammad Mobeen Khan(Director)
Mrs. Sharmeen Faisal(Director)
Mr. Muhammad Fiaz(Director)
Mr. Muhammad Zulqarnain(Director)
Mr. Affan Hashmi(Director)


Polyster kg 1260000 -
to SECP
Al-Abid Silk Mills Ltd.

A-39, S.I.T.E. Manghopir Road, Karachi.
Mr. Naseem A.Sattar(Chairman & C.E.) National Bank Of Pakistan M/s. Muniff Ziauddin & Co.
Mrs. Zarina Naseem(Director) Allied Bank Limited
Mrs. Sadaf Nadeem(Director) Sadui Pak Commercial Bank Ltd.
Mrs. Asra Amir(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mrs.Reena Azim(Director) United Bank Ltd.
Mst. Adia Naseem(Director) Meezan Bank Ltd.
Syed Raza Abbas Jaffari (NIT)(Director) Habib Metropolitan Bank Ltd.

Polyster - -
-
278
Bannu Woollen Mills Ltd.
Habibabad, Kohat (N.W.F.P.)
Mr. Raza Kuli Khan Khattak(Chairman) National Bank Of Pakistan M/s. Hameed Chaudhri & Co.
Mr. Muhammad Azhar Khan(Chief Executive) Bank Of Khyber
Dr. Shaheen Kuli Khan(Director)
Mr. Ahmad Kuli Khan Khattak(Director)
Lt. Gen. (Retd.) Ali Kuli Khan Khattak(Director)
Mr. Manzoor Ahmed Shaikh (NIT)(Director)
Mrs. Zeb Gohar Ayub(Director)

Yarn Kgs 1595099 1256907
Cloth Meters 1459976 1411275
Colony Woollen Mills Ltd.

Aiwan-i-Science, Off Shahrah-i-Jalaluddin Roomi, Lahore.
Mr. Kh. Waqar Ibn-e-Zahoor Badney(Chairman MCB Bank Ltd. M/s. Mazhar Ali Khan & Co.
Mr. Muhammad Saeed(Director)
Mr. Muhammad Asghar(Director)
Mr. Abdul Sattar(Director)
Mr. M.Ikram-ul-Haq(Director)
Mr. M. Tariq(Director)
Mr. Sardar Ali Shah(Director)


Woolen products
defaulter to SECP
279
Dewan Salman Fibre Ltd.
Dewan Centre, 58-Main Margalla Road, F-7/2, Islamabad.
Dewan Mohammad Yousuf Farooqui(Chief Exec Standard Chartered Bank Ltd. Faruq Ali & Co.
Dewan Asim Mushfiq Farooqui(Managing Directo The Hongkong & Shanghai Banking Corp. Ltd.
Dewan Abdul Rehman Farooqui(Director) Royal Bank of Scottland
Dewan Abdul Baqi Farooqui(Director) Atlas Bank Ltd.
Dewan Abdullah Ahmed(Director) Albaraka Islamic Investment Bank Ltd.
Mr. Shahid Hussain Shera(Director) KASB Bank Ltd.
Mr. Muhammad Azimuddin(Director) Askari Commercial Bank Ltd.

yarn Tons 266660 85595
Gatron (Industries) Ltd.

Room No. 32, 1st Floor, Ahmed Complex, Jinnah Road, Quetta.
Haji Haroon Bilwani(Chairman) Standard Chartered Bank Ltd. M/s. Hyder Bhimji & Co.
Peer Mohammad Dewan(Chief Executive) The Hongkong & Sanghai Banking Corporation Ltd.
Mr. Usman Bilwani(Director) NIB Bank Ltd.
Mr. Zakaria Bilwani(Director) The Royal Bank of Scotland Ltd.
Mr. Iqbal Bilwani(Director) National Bank Of Pakistan
Mr. Shabbir Dewan(Director) Citibank N.A.
Mr. Mohammad Arif Bilwani(Director) Faysal Bank Ltd.

Polyester yarn M. Tons 56812 56543
Polyester P.E.T. Th. Pieces 566352 358587
Electric Power & Steam Thousand KWH 168490 129799
280
Harnai Woollen Mills Ltd.
PIDC House, Dr. Ziauddin Ahmed Road, Karachi.
Mr. Zahid Husain(Chairman) United Bank Ltd. M/s. Abdul Wahid & Co.
Mr. Sarosh Youusufi(Director) National Bank of Pakistan
Mr. Abdul Bari Khan(Director) MCB Bank Ltd.
Lt. Col. (R) Farukh Hussain(Director)
Prince Abbas Khan(Director)
Mr. M. Arif Azam(Director)
Mr. Barkatullah(Director)


Polyster and woolen products
Note: Failed to hold AGm and
defaulter to SECP
Ibrahim Fibres Ltd.

Ibrahim Centre, 1- Ahmed Block, New Garden Town, Lahore.
Sheikh Mukhtar Ahmed(Chairman) Citibank N.A. M/s. Avais Hyder Liaquat Nauman
Mr. Mohammad Naeem Mukhtar(Chief Executive Bank Al-Habib Ltd.
Mrs. Bina Sheikh(Director) Faysal Bank Ltd.
Mrs. Ghazala Naeem(Director) Habib Bank Ltd.
Ms. Iqbal Begum(Director) Standard Chartered Bank
Mr. Mohammad Waseem Mukhtar(Director) Habib Metropolitan Bank Limited
Mr. Shahid Amin(Director) United Bank Ltd.

Yarn Tons 41107 45435
281
Indus Polyester Company Ltd.
B-54, S.I.T.E., Karachi.
Shaikh Mohammad Yousuf(Chairman) Allied Bank of Pakistan Ltd. M/S Gardezi & Co.
Mr. Naeem Akhtar Yousuf(Chief Executive) MCB Bank Ltd
Ms. Gul Naeem(Director)
Mr. Tariq Yousuf(Director)
Mrs. Kausar Naeem(Director)
Mrs. Nabila Tariq(Director)
Mrs. Zuhra Yousuf(Director)

Polyester yarn Tons 2100 -
Karim Silk Mills Ltd.

14/E, 2nd Floor, Writers Chambers, Mumtaz Hassan Road, Karachi.
Mr. Abdul Wahab Haji Muhammad(Chief Executi M/s. Rao & Company
Mr. Muhammad Idress Haji Ebrahim(Director)
Mr. Abu Talib Muhammad Yunus(Director)
Mr. Ahmed Jan Muhammed(Director)
Mr. Saeed-u-ddin Hamid-uddin(Director)
Mr. Abdul Wahid Umer(Director)
Mr. Muhammad Arif Abdullah(Director)

Note: Due to sale of company - -
282
Kashmir Polytex Ltd.
Plot No. A/8-11 Industrial Estate, Mirpur, Azad Kashmir.
Mr. Mohammad Ashraf Khan(Chief Executive) Bank Al-Habib Ltd. M/s Khalid Majid Rahman Sarfaraz Rahim Iqbal R
Dr. Mrs. Yasmin Ashraf(Director) National Bank Of Pakistan
Mrs. Hareem Ara Hashmi(Director) PICIC Commercial Bank Ltd.
Mr. Khawaja Zafar Iqbal(Director)
Mr. Mushtaq Ahmad(Director)
Mr.Shehzad Akram(Director)
Mr. Muhammad Younus Khan(Director)
Date of Annual General Meeting 21st April , 2009 Face Value Rs. 10.00

PP products Rs. in thousands 2800
Liberty Mills Ltd.

A-51/A, S.I.T.E., Karachi.
Mr. Salim N. Mukaty(Chairman) Bank Al-Habib Ltd. M/s. Hyder Bhimji & Co.
Mr. Ashraf Salim Mukaty(Chief Executive) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Luqman F Poonawala(Director) Habib Metropolitan Bank Ltd.
Mr. Noor Muhammad Yusuf Mukaty(Director) Habib Bank Ltd.
Mr. Mohammad Imran Shekhani(Director) Soneri Bank Ltd.
Mr. Madni Gul Muhammad(Director) Meezan Bank Ltd.
Mr. Yousuf N. Mukaty(Director)

Dyeing, Printing & Finishing Meters 66000000 55715563
283
Moonlite (Pak) Ltd.
301, Anum Blessing, Near Duty Free Shop, K.C.H.S., Block 7/8, P.E.C.H.S. Karachi.
Mr. Tar Mohammad Ismail(Chairman/Chief Exec Askari Commercial Bank Ltd. M/s. Rahman Sarfaraz Rahim Iqbal Rafiq
Mr. Shahid Umer(Director) Bank Al-Habib Ltd.
Mrs. Parsa Sohail(Director) Meezan Bank Ltd.
Mr. Mohammad Sohail(Director) Muslim Commercial Bank Ltd.
Mr. Mohammad Ashraf(Director) Soneri Bank Ltd.
Mr. Abdullah Ghulam Ali (NIT)(Director)
Mr. Abdul Aziz(Director)

Knitting Sq. meters 250,000 0
Wool spinning Kgs 1,700,000 362,492
Tufting Sq. meters 1,100,000 0
Noor Silk Mills Ltd.

D/47, S.I.T.E., Mangopir Road, Karachi.
Haji Noor Mohammed Haji A. Ghani(Chairman & Habib Bank Ltd. M/s Muniff Ziauddin & Co.
Mr. Younus A. Aziz(Director) Natioanl Bank of Paksitan
Mrs. Farida Ashraf(Director)
Mrs. Jamila Ilyas(Director)
Mr. M. Amin H. Noor Mohammed(Director)
Mr. Abdul Rauf Mohammed(Director)
Mr. Ashraf H. Mohammed(Director)

Polyster yarn and silk cloths
284
Pak Fibre Industries Ltd.
Plot No.5, Sector M, Hub Industrial Trading Estate, Hub Lasbela, Baluchistan.
Mr. Maqsood Z. Habib(Chief Executive) Habib Bank Ltd. Khalid Majid Rahman Sarfaraz Rahim Iqbal Rafiq
Mrs. Aneela Maqsood(Director) Industrial Development Bank Of Pakistan
Mrs. Gulbano Zakaria(Director)
Mr. A. Wahid A. Majid(Director)
Mr. Sikandar Ghaffar(Director)
Haji Iqbal Rahim(Director)
Mr. Qayyum Habib(Director)


yarn M. Tons 2100 0
Note: The company failed to held AGM
during the year 2008.
Pakistan Synthetics Ltd.

3rd Floor, Karachi Dock Labour Board, 58-West Wharf Road, Karachi.
Mr. Ebrahim Haji Karim(Chairman) Meezan Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Umer Haji Karim(Chief Executive) National Bank Of Pakistan
Mr. Yakoob Haji Karim(Director) Bank Al Habib Ltd.
Mr. Rafique Ebrahim(Director) Habib Bank Ltd.
Mr. Sajid Haroon(Director) Habib Metropolitan Bank Ltd.
Mr. Ahmed Ebrahim(Director)
Mr. Anwar Haji Karim(Director)

Poleyester M. Tons 28,000 24921
285
Polyron Ltd.
10/2 Mouza Sakran Plot-M-4, H.I.T.E. Tehsil Hub District Lesbella, Baluchistan
Mr. Bashir Ismail(Chairman/Chief Exec.) MCB Bank Ltd. M/s. Hafeezullah & Co.
Mr. Ghulam Hussain(Director) National Bank of Pakistan.
Mr. Abdul Habib Aybani(Director)
Mr. Muhammad Suleman(Director)
Mr. Munir Ismail(Director)
Mr. Abdul Sattar(Director)
Mr. Bashir Abdulla(Director)


yarn Tons 4,100
defaulter to SECP
Rupali Polyester Ltd.

Rupali House, 241-242, Upper Mall Scheme, Anand Road, Lahore
Mr. Jafferali M. Feerasta(Chairman) Citibank N.A. M/s. Qavi & Co.
Mr. Nooruddin Feerasta(Chief Executive) NIB Bank Ltd.
Mr. Muhammad Ali H. Sayani(Director) Habib Bank Ltd.
Mr. Abdul Hayee(Director) Soneri Bank Ltd.
Mr. Muhammad Rashid Zahir(Director) Bank Al-Habib Ltd.
Syed Ali Zafar(Director) Meezan Bank Ltd.
Mr. Amin A. Feerasta(Director) MCB Bank Ltd.

Yarn M. Tons 10100 12311
Fiber M. Tons 12000 22761
286
S.G. Fibres Ltd.
B-40, S.I.T.E., Karachi.
Mr. S.M. Ahmed(Chairman / C.E.O.) Mybank Ltd. M/s Muniff Ziauddin & Co.
Mst. Zubaida Khatoon(Director) Habib Bank Ltd.
Mr. Wajahat A. Baqai (N.B.P.)(Director) Soneri Bank Ltd.
Mst. Ghazala Ahmed(Director)
Mrs. Tania Asim(Director)
Mr. Mohammad Hanif(Director)
Mr. Abdul Salam(Director)

Yarn M. Tons 10,500 -
The National Silk & Rayon Mills Ltd.

4th Floor, 1.E.P.Building, 97-B/D-1, Gulberg-III, Lahore.
Sh. Faisal Tauheed Puri(Chairman/Chief Exec.) The Bank of Punjab M/s. Amin Mudassar & Company
Sh. Kashif Tauheed Puri(Director) National Bank Of Pakistan
Mst. Amna Kamran(Director)
Mst. Saima Shahid(Director)
Mst. Samira Faisal(Director)
Mst. Sadia Kamran(Director)
Mst. Tahira Kashif(Director)

Cloth Processing Meters 57600000 42735639
Embroidery Average Meters 2629200 1246232
287
Tri-Star Polyester Ltd.
F/498, S.I.T.E., Karachi.
Mr. Ahmad Ismail(Chief Executive) Bank Al-Habib Ltd. M/s. Ghalib & Co.
Mr. Tahir Ahmad(Director) Habib Bank Ltd.
Mrs. Aliya Ahmad(Director)
Mr. Tanveer Hasan(Director)
Mr. Asad Ahmad(Director)
Mr. Muhammad Zameer(Director)
Mr. Rashid Ahmad(Director)

Polyster yarn M.Tons 4000
288
CHEMICAL SECTOR
Chemical Sector (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 18531.3 31887.1 35331.5 41442.3 58952.0 68469.7
5.Debentures 4198.5 499.3 721.9 1408.6 13069.4 12879.9
B.Liquidity:
1.Liquid Assets: 34136.5 43067.2 44947.2 47461.3 73786.2 69193.9
(i)Cash 13724.7 17981.7 18196.1 20871.7 18366.9 19418.5
(ii)Investments 20411.8 25085.5 26751.1 26589.6 55419.3 49775.4
3.Inventories 11832.4 15574.4 17755.4 18357.5 19999.7 28447.0
C.Fixed Assets:
4.Total assets (B4+C2) 130348.0 143112.7 149172.8 166685.0 211217.4 255733.6
D.Operation:
1.Gross sales 138487.1 165091.0 182186.4 198891.2 217797.9 279534.3
(i)Local sales 137468.2 163942.3 175604.5 194257.2 216179.4 277567.2
(ii)Export sales 1018.9 1148.7 6581.9 4634.0 1618.5 1967.1
2.Cost of Sales 108796.1 125739.3 137259.1 151305.4 163839.6 211407.9
3.Gross profit 29691.0 39351.7 44927.3 47585.8 53958.3 68126.4
8.Tax provision 5075.5 5534.0 6391.7 6404.0 6992.7 10822.1
F.Cash Flow Data
291
Chemicals

200
180
160
140
120
% 100
80
60
40
20
0
2003 2004 2005 2006 2007 2008
30 20
18
25
16
20 14
12
Rupees
15 %
10
8
10
6
5 4
2
0
0
2003 2004 2005 2006 2007 2008
2003 2004 2005 2006 2007 2008
292
Abbott Laboratories (Pakistan) Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1793.9 2281.5 2797.2 3262.9 2710.3 2589.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 697.0 1083.2 1160.8 1608.8 496.1 1051.5
(i)Cash 697.0 1083.2 1160.8 1608.8 496.1 1051.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 757.9 917.6 1217.9 1256.1 1363.5 1696.2
9.Net liquid assets (B1-B5) 5.0 562.7 508.8 815.3 -496.0 -395.9
C.Fixed Assets:
4.Total assets (B4+C2) 2957.9 3368.7 4129.0 5035.3 4681.3 5015.9
D.Operation:
1.Gross sales 4435.9 4814.9 5346.5 6103.8 6838.6 7377.7
(i)Local sales 4346.3 4706.1 5206.4 5939.8 6665.5 7219.5
(ii)Export sales 89.6 108.8 140.1 164.0 173.1 158.2
2.Cost of Sales 2753.9 2829.5 3050.4 3625.2 4104.7 5280.0
3.Gross profit 1682.0 1985.4 2296.1 2478.6 2733.9 2097.7
8.Tax provision 281.6 354.4 426.8 417.5 464.6 204.1
F.Cash Flow Data
293
BOC Pakistan Ltd, (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 535.2 795.6 855.8 962.0 1175.7 1257.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 288.6 263.5 257.2 298.3 546.9 334.5
(i)Cash 288.6 263.5 257.2 298.3 546.9 334.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 53.0 90.6 68.4 142.1 156.4 246.3
C.Fixed Assets:
4.Total assets (B4+C2) 1833.4 1937.7 1964.8 1968.0 2279.0 2312.4
D.Operation:
1.Gross sales 1386.2 1741.9 1987.4 2647.0 2436.1 2729.6
(i)Local sales 1386.2 1741.9 1987.4 2647.0 2436.1 2729.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 801.1 1062.0 1252.1 1698.6 1502.2 1894.0
3.Gross profit 585.1 679.9 735.3 948.4 933.9 835.6
8.Tax provision 79.3 92.9 143.2 231.3 237.6 204.5
3.Finance from outside the company (E1-E2) -365.3 -164.4 31.8 112.1 90.9 -11.5
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -19.9 6.8 16.9 13.4 20.2 -20.1
294
Bawany Air Products Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 24.4 25.3 12.1 -0.1 -12.3 -36.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 10.2 8.1 1.5 0.6 0.9 1.6
(i)Cash 2.7 1.0 1.3 0.6 0.9 1.6
(ii)Investments 7.5 7.1 0.2 0.0 0.0 0.0
3.Inventories 2.6 2.5 1.8 0.9 0.9 1.1
C.Fixed Assets:
4.Total assets (B4+C2) 126.6 131.4 160.4 188.5 197.5 204.3
D.Operation:
1.Gross sales 59.7 69.0 62.8 61.8 77.2 81.2
(i)Local sales 59.7 69.0 62.8 61.8 77.2 81.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 45.7 57.4 62.1 64.5 71.9 74.0
3.Gross profit 14.0 11.6 0.7 -2.7 5.3 7.2
8.Tax provision 0.3 0.4 0.3 0.3 0.4 0.3
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 43.3 7.9 -11.1 7.7 15.9 -30.1
6.Self financing ratio (E2 as % of E1) 3.4 -20.3 - -318.4 -97.6 73.7
7.Cash flow ratio F1 as % of F2 15.2 -20.3 - -106.5 -55.3 71.1
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 18.8 - - -2.5 -3.4 -1.2
15.Return on Equity (D7 as % of A3) 3.0 -2.2 -31.9 -24.3 -32.4 -76.5
3.Net profit margin (D7 as % of D1) 2.7 -1.7 -20.7 -19.1 -15.3 -29.7
295
Berger Paints Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 234.7 415.4 448.0 490.1 489.4 315.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 60.7 95.4 114.6 162.4 157.0 206.1
(i)Cash 42.8 79.9 96.7 144.5 143.2 192.3
(ii)Investments 17.9 15.5 17.9 17.9 13.8 13.8
3.Inventories 178.4 262.2 430.9 454.4 570.9 873.3
C.Fixed Assets:
4.Total assets (B4+C2) 639.4 912.0 1381.0 1755.0 2100.0 2863.8
D.Operation:
1.Gross sales 1060.3 1345.3 2242.7 2999.7 3620.5 3988.3
(i)Local sales 1060.3 1328.9 2194.1 2933.6 3536.0 3901.6
(ii)Export sales 0.0 16.4 48.6 66.1 84.5 86.7
2.Cost of Sales 785.1 1011.3 1726.5 2240.1 2839.2 3345.2
3.Gross profit 275.2 334.0 516.2 759.6 781.3 643.1
8.Tax provision 0.0 31.8 31.0 52.8 28.5 20.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -19.2 180.3 48.1 53.6 10.9 -44.4
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -3.6 199.2 68.8 80.1 40.6 -5.7
296
Biafo Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -17.5 -32.5 25.0 95.4 168.7 194.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.3 1.2 5.2 7.7 28.7 35.9
(i)Cash 0.3 1.2 5.2 7.7 28.7 35.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 20.0 23.5 21.9 30.9 44.1 59.8
C.Fixed Assets:
4.Total assets (B4+C2) 349.1 331.8 379.4 384.0 464.7 487.3
D.Operation:
1.Gross sales 115.7 219.1 282.6 400.1 530.0 560.8
(i)Local sales 85.1 161.2 282.6 400.1 530.0 560.8
(ii)Export sales 30.6 57.9 0.0 0.0 0.0 0.0
2.Cost of Sales 92.4 163.0 221.6 302.3 389.0 420.5
3.Gross profit 23.3 56.1 61.0 97.8 141.0 140.3
8.Tax provision 0.7 1.2 1.4 0.0 0.0 5.7
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] - -118.9 380.0 0.0 210.2 500.5
2.Dividend ratio to equity (D9 as % of A3) 0.0 -74.2 3.6 0.0 13.6 5.1
4.Earning per share before tax (D7/No. of ordinary shares) - 0.8 1.6 3.3 5.3 5.3
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - 0.7 1.5 3.3 5.3 5.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - 33.3 106.3 60.6 0.0
297
Buxly Paints Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 28.8 27.8 31.0 17.6 9.8 15.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.8 12.3 9.5 20.3 20.2 14.7
(i)Cash 2.3 10.8 8.0 20.3 20.2 14.7
(ii)Investments 1.5 1.5 1.5 0.0 0.0 0.0
3.Inventories 13.8 15.8 40.2 76.4 27.2 19.2
C.Fixed Assets:
4.Total assets (B4+C2) 83.4 92.2 153.3 162.9 135.2 112.3
D.Operation:
1.Gross sales 151.6 186.1 329.5 376.2 137.7 164.1
(i)Local sales 151.6 186.1 329.5 376.2 137.7 164.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 114.5 142.8 258.5 292.8 104.5 138.2
3.Gross profit 37.1 43.3 71.0 83.4 33.2 25.9
8.Tax provision 0.7 0.9 1.4 1.5 0.6 0.0
F.Cash Flow Data
298
Clariant Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 513.5 773.5 930.4 1104.4 1296.3 1651.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 86.5 103.6 257.3 244.2 209.7 259.1
(i)Cash 86.5 103.6 257.3 244.2 209.7 259.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 782.3 964.1 1222.7 1170.4 1307.1 1509.3
C.Fixed Assets:
4.Total assets (B4+C2) 2634.4 2941.9 3426.8 3597.2 4256.3 4726.5
D.Operation:
1.Gross sales 4340.1 5025.9 5543.4 5582.1 6335.1 7723.1
(i)Local sales 4315.9 5025.9 5503.9 5542.7 6259.2 7423.6
(ii)Export sales 24.2 0.0 39.5 39.4 75.9 299.5
2.Cost of Sales 3446.2 4129.4 4405.6 4595.5 5000.1 5921.3
3.Gross profit 893.9 896.5 1137.8 986.6 1335.0 1801.8
8.Tax provision 166.5 190.2 240.0 248.2 195.6 197.8
F.Cash Flow Data
299
Colgate-Palmolive (Pakistan) Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 346.7 535.8 807.9 1153.5 1536.8 1938.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 197.2 249.2 216.5 552.0 420.7 773.1
(i)Cash 187.2 249.2 216.5 390.6 420.7 592.9
(ii)Investments 10.0 0.0 0.0 161.4 0.0 180.2
3.Inventories 335.7 432.8 536.7 614.3 777.9 1006.4
C.Fixed Assets:
4.Total assets (B4+C2) 1020.1 1409.1 1508.7 2088.3 2633.1 3126.8
D.Operation:
1.Gross sales 3461.6 4195.2 4883.3 6286.4 7445.8 8976.5
(i)Local sales 3461.6 4195.2 4883.3 6286.4 7445.8 8976.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 2704.3 3233.2 3824.9 4671.1 5566.1 6879.7
3.Gross profit 757.3 962.0 1058.4 1615.3 1879.7 2096.8
8.Tax provision 92.0 117.0 132.5 263.1 283.0 300.6
F.Cash Flow Data
300
Data Agro Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -33.8 -22.6 -19.9 9.5 9.8 11.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.0 7.8 4.5 1.3 2.8 2.0
(i)Cash 3.0 7.8 4.5 1.3 2.8 2.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.8 1.2 4.5 7.3 16.0 9.7
C.Fixed Assets:
4.Total assets (B4+C2) 54.4 63.2 64.7 102.5 103.4 103.7
D.Operation:
1.Gross sales 21.6 26.7 29.4 29.9 29.2 58.9
(i)Local sales 21.6 26.7 29.4 29.9 29.2 58.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 17.7 18.7 20.1 25.7 22.5 51.6
3.Gross profit 3.9 8.0 9.3 4.2 6.7 7.3
5.Operating profit -0.8 3.3 4.2 -1.4 0.8 0.7
7.Net profit before tax (D5-D6) -0.8 3.1 4.2 -1.6 0.6 0.5
8.Tax provision 0.1 0.1 0.1 0.1 0.1 0.3
2.Retention in business (D7-D8-D9) -0.9 3.0 4.1 -1.7 0.5 0.2
3.Finance from outside the company (E1-E2) -3.7 8.2 -0.6 30.9 39.9 -39.1
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -1.5 4.9 6.5 -1.6 0.6 0.5
10.Financial expenses as % of operating profit (D6 as % of D5) - 6.1 0.0 -14.3 25.0 28.6
12.Financial expenses as % of contractual liabilities (D6 as % B8) 0.0 - 0.0 22.2 0.5 0.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 3.2 2.4 -6.3 16.7 60.0
15.Return on Equity (D7 as % of A3) -12.9 17.8 20.9 -3.2 1.2 1.0
3.Net profit margin (D7 as % of D1) -3.7 11.6 14.3 -5.4 2.1 0.8
4.Earning per share before tax (D7/No. of ordinary shares) -0.2 0.8 1.1 -0.4 0.2 0.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -0.2 0.8 1.0 -0.4 0.1 0.1
301
Dawood Hercules Chemicals Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 5650.6 9015.4 8691.0 8444.5 18060.7 16288.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7572.5 12374.3 10878.4 13504.1 25590.3 22373.0
(i)Cash 1385.8 1072.6 398.9 56.3 1097.8 933.9
(ii)Investments 6186.7 11301.7 10479.5 13447.8 24492.5 21439.1
3.Inventories 103.6 68.2 164.4 237.3 867.5 89.6
9.Net liquid assets (B1-B5) 4899.7 7968.5 7502.8 6614.6 21757.0 14125.6
C.Fixed Assets:
4.Total assets (B4+C2) 9043.9 14142.0 12787.1 16162.8 29222.7 25630.1
D.Operation:
1.Gross sales 3432.6 3087.3 3712.2 4333.9 5543.5 7665.2
(i)Local sales 3432.6 3087.3 3712.2 4333.9 5543.5 7665.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 2372.5 2269.5 2452.2 3022.4 3681.0 4549.0
3.Gross profit 1060.1 817.8 1260.0 1311.5 1862.5 3116.2
8.Tax provision 304.7 181.0 314.0 104.0 529.0 693.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 36.3 11.7 - -1796.0 64.2 -13.5
7.Cash flow ratio F1 as % of F2 38.9 14.7 - -4503.5 64.5 -15.6
302
Descon Oxychem Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
1.Ordinary Share Capital - - - - - 695.0
2.Surplus - - - - - -86.7
3.Shareholder's Equity (A1+A2) - - - - - 608.3
4.Prefrence Shares - - - - - 0.0
5.Debentures - - - - - 0.0
6.Other Fixed Laibilities - - - - - 955.7
7.Total Fixed Laibilities (A4+A5+A6) - - - - - 955.7
8.Total Capital Employed (A3+A7) - - - - - 1564.0
B.Liquidity:
1.Liquid Assets: - - - - - 165.1
(i)Cash - - - - - 165.1
(ii)Investments - - - - - 0.0
2.Other Current Assets - - - - - 52.6
3.Inventories - - - - - 0.0
4.Current Assets (B1+B2+B3) - - - - - 217.7
5.Current Liabilities - - - - - 82.5
6.Total Liabilities(A7+B5) - - - - - 1038.2
7.Net Current Assets(B4-B5) - - - - - 135.2
8.Contractual Liabilities - - - - - 955.7
9.Net liquid assets (B1-B5) - - - - - 82.6
C.Fixed Assets:
1.Fixed Asset At Cost - - - - - 1429.9
2.Fixed assets after deducting accumulated depreciation - - - - - 1428.8
3.Depreciation for the year - - - - - 1.0
4.Total assets (B4+C2) - - - - - 1646.5
D.Operation:
1.Gross sales - - - - - 0.0
(i)Local sales - - - - - 0.0
(ii)Export sales - - - - - 0.0
2.Cost of Sales - - - - - 0.0
3.Gross profit - - - - - 0.0
4.Overhead and Other Expenses - - - - - 10.2
5.Operating profit - - - - - -10.2
6.Financial expenses - - - - - 0.0
7.Net profit before tax (D5-D6) - - - - - -10.2
8.Tax provision - - - - - 0.0
9.Total amount of dividend - - - - - 0.0
10.Total value of bonus shares issued - - - - - 0.0
2.Retention in business (D7-D8-D9) - - - - - -10.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - - - -9.2
1.Gearing ratio (A7 as % of A8) - - - - - 61.1
2.Current ratio (B4 as % of B5) - - - - - 263.9
3.Acid test or Quick ratio (B4-B3 as % B5) - - - - - 263.9
4.Debt equity ratio (B6 as % of A3) - - - - - 170.7
5.Return on assets (D7 as % of C4) - - - - - -0.6
6.Self financing ratio (E2 as % of E1) - - - - - 0.0
7.Cash flow ratio F1 as % of F2 - - - - - 0.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - - - - - 87.5
9.Overhead and other expenses as % of gross sales (D4 as % D1) - - - - - 0.0
10.Financial expenses as % of operating profit (D6 as % of D5) - - - - - 0.0
11.Financial expense as % of gross sales (D6 as % of D1) - - - - - 0.0
12.Financial expenses as % of contractual liabilities (D6 as % B8) - - - - - 0.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - - - 0.0
14.Sundry debtors as % of gross sales - - - - - 0.0
15.Return on Equity (D7 as % of A3) - - - - - -1.7
1.Dividend cover ratio [(D7 - D8) as % of D9] - - - - - 0.0
2.Dividend ratio to equity (D9 as % of A3) - - - - - 0.0
3.Net profit margin (D7 as % of D1) - - - - - 0.0
4.Earning per share before tax (D7/No. of ordinary shares) - - - - - -0.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - - - - -0.1
6.Average annual % depreciation on written down fixed assets - - - - - 0.4
7.Sales as % of total assets (D1 as % of C4) - - - - - 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - - - -110.0
10.Break-up value of ordinary shares (in rupees) - - - - - 8.8
303
Dynea Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 99.3 171.1 165.4 198.6 202.2 242.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 49.4 5.6 11.9 8.9 9.4 17.7
(i)Cash 9.4 5.6 11.9 8.9 9.4 17.7
(ii)Investments 40.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 104.5 119.9 137.1 147.6 163.8 233.1
C.Fixed Assets:
4.Total assets (B4+C2) 471.0 530.6 537.5 592.3 543.9 652.3
D.Operation:
1.Gross sales 886.4 1000.3 1133.4 1305.2 1379.1 1507.1
(i)Local sales 886.4 1000.3 1133.4 1305.2 1379.1 1507.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 822.4 951.3 1024.0 1124.3 1247.0 1319.1
3.Gross profit 64.0 49.0 109.4 180.9 132.1 188.0
8.Tax provision 0.0 4.1 4.9 5.6 0.0 27.0
F.Cash Flow Data
10.Financial expenses as % of operating profit (D6 as % of D5) 102.1 -257.6 55.5 23.4 36.5 14.7
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - -34.7 52.7 9.3 0.0 41.8
1.Dividend cover ratio [(D7 - D8) as % of D9] - 0.0 - 0.0 0.0 0.0
304
Engro Chemical Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 5150.2 5131.2 5894.9 7669.7 13413.3 20833.0
5.Debentures 1499.0 0.0 0.0 0.0 11422.5 12879.9
B.Liquidity:
1.Liquid Assets: 3841.7 3729.9 3453.3 5462.8 15535.9 12846.7
(i)Cash 1651.1 1441.1 1142.5 1805.2 1617.5 1687.0
(ii)Investments 2190.6 2288.8 2310.8 3657.6 13918.4 11159.7
3.Inventories 385.6 484.7 1923.0 923.4 2690.2 4680.9
9.Net liquid assets (B1-B5) 936.6 -205.4 -322.6 652.1 8283.7 3398.9
C.Fixed Assets:
4.Total assets (B4+C2) 12820.2 13175.3 14090.1 15962.7 38022.8 60165.7
D.Operation:
1.Gross sales 12299.2 13067.7 18756.8 19072.2 36625.8 43242.6
(i)Local sales 12299.2 13067.7 18756.8 19072.2 36625.8 43242.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 8067.0 9331.1 14072.8 14835.0 28643.5 32380.9
3.Gross profit 4232.2 3736.6 4684.0 4237.2 7982.3 10861.7
8.Tax provision 1101.5 751.7 948.8 834.4 1125.5 1181.9
F.Cash Flow Data
305
Fauji Fertilizer Bin Qasim Ltd (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -4302.6 -2194.5 -1613.6 -803.4 -832.2 1145.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1618.7 5437.2 7665.9 8646.9 9106.4 10358.3
(i)Cash 1618.7 5078.6 6931.6 7235.7 3800.6 7941.5
(ii)Investments 0.0 358.6 734.3 1411.2 5305.8 2416.8
3.Inventories 209.5 252.3 1023.0 800.5 587.9 5676.7
C.Fixed Assets:
4.Total assets (B4+C2) 18156.8 21966.9 24581.5 27681.3 29046.0 46771.6
D.Operation:
1.Gross sales 6014.0 12532.8 15277.2 15777.6 13167.1 27410.8
(i)Local sales 6014.0 12532.8 15277.2 15777.6 13167.1 27410.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 4850.3 9272.0 10714.7 11093.4 8344.6 19184.7
3.Gross profit 1163.7 3260.8 4562.5 4684.2 4822.5 8226.1
8.Tax provision 25.8 0.0 0.0 0.0 0.0 1419.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 121.2 1701.3 404.3 -608.1 58.1
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 100.0 475.0 82.6 -4.8 5.0 11.9
306
Fauji Fertilizer Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 9841.3 7882.9 6178.8 6452.6 6226.1 5781.3
5.Debentures 949.6 0.0 433.0 216.5 0.0 0.0
B.Liquidity:
1.Liquid Assets: 11118.1 11387.0 13425.4 8032.6 10702.8 12188.2
(i)Cash 1834.1 1055.8 1172.1 1623.2 1350.0 931.9
(ii)Investments 9284.0 10331.2 12253.3 6409.4 9352.8 11256.3
3.Inventories 681.3 219.2 560.5 952.9 642.8 258.1
9.Net liquid assets (B1-B5) 2825.7 423.4 -1255.3 -5247.4 -3137.1 -2067.3
C.Fixed Assets:
4.Total assets (B4+C2) 25213.8 24664.7 26775.3 25861.1 27672.0 30349.7
D.Operation:
1.Gross sales 30207.4 39946.4 43481.9 48595.9 40688.8 57433.7
(i)Local sales 30207.4 39946.4 43481.9 48595.9 40688.8 57433.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 22874.1 28800.1 29799.3 34180.2 25731.8 36829.4
3.Gross profit 7333.3 11146.3 13682.6 14415.7 14957.0 20604.3
8.Tax provision 1954.0 2184.0 2323.0 2354.0 2505.0 4738.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -465.7 -3220.5 -1606.4 486.5 1251.0 2262.1
F.Cash Flow Data
307
Ferozsons Laboratories Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 209.1 248.6 360.7 679.1 819.0 933.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 44.9 80.1 142.7 237.3 378.3 433.7
(i)Cash 37.0 41.0 66.5 12.3 41.7 35.8
(ii)Investments 7.9 39.1 76.2 225.0 336.6 397.9
3.Inventories 101.7 84.6 97.1 145.3 133.8 180.8
C.Fixed Assets:
4.Total assets (B4+C2) 370.0 441.5 568.6 942.5 1218.4 1481.6
D.Operation:
1.Gross sales 530.7 546.4 806.2 923.0 1022.5 1045.2
(i)Local sales 530.7 546.4 806.2 923.0 1022.5 1045.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 288.0 237.6 418.0 476.6 515.6 504.5
3.Gross profit 242.7 308.8 388.2 446.4 506.9 540.7
8.Tax provision 0.0 44.4 64.6 63.2 56.8 74.2
3.Finance from outside the company (E1-E2) -28.3 -19.5 10.5 216.8 107.5 45.0
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 0.0 20.1 4.5 -21.7 -2.7 -5.6
308
Glaxosmithkline (Pakistan) Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 3631.4 4866.8 5850.7 6171.5 6410.9 6648.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2246.0 3460.8 4372.0 4862.0 4697.8 3052.3
(i)Cash 2246.0 3054.1 3984.3 4666.5 4252.7 2724.9
(ii)Investments 0.0 406.7 387.7 195.5 445.1 327.4
3.Inventories 1605.0 1632.3 1973.0 2195.4 2277.2 3494.1
C.Fixed Assets:
4.Total assets (B4+C2) 5894.8 6865.2 8260.5 9443.8 10164.5 10625.8
D.Operation:
1.Gross sales 8202.6 8993.8 9554.1 10240.1 10784.8 13687.0
(i)Local sales 8119.5 8839.8 9369.9 10025.5 10528.5 13397.4
(ii)Export sales 83.1 154.0 184.2 214.6 256.3 289.6
2.Cost of Sales 5042.9 5488.1 5707.7 6373.4 6832.7 9831.5
3.Gross profit 3159.7 3505.7 3846.4 3866.7 3952.1 3855.5
8.Tax provision 459.8 629.0 875.0 944.4 877.9 990.0
F.Cash Flow Data
309
Highnoon Laboratories Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 211.3 312.2 366.1 353.2 464.4 467.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 23.7 25.6 33.5 35.6 31.9 17.2
(i)Cash 23.7 25.6 13.5 15.6 11.9 7.2
(ii)Investments 0.0 0.0 20.0 20.0 20.0 10.0
3.Inventories 235.9 283.2 281.7 359.6 418.4 449.9
7.Net Current Assets(B4-B5) 25.5 -42.6 0.1 9.5 82.1 45.7
C.Fixed Assets:
4.Total assets (B4+C2) 716.9 982.6 1035.9 1116.3 1295.2 1409.7
D.Operation:
1.Gross sales 958.2 1107.8 1384.9 1640.5 2072.1 2354.3
(i)Local sales 931.0 1071.4 1339.0 1549.4 2010.2 2295.0
(ii)Export sales 27.2 36.4 45.9 91.1 61.9 59.3
2.Cost of Sales 619.9 733.1 905.8 976.3 1272.5 1547.7
3.Gross profit 338.3 374.7 479.1 664.2 799.6 806.6
8.Tax provision 15.3 22.1 14.8 45.0 54.8 15.9
F.Cash Flow Data
310
ICI Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 3675.3 7223.4 8687.1 9929.4 10982.9 12251.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3377.8 1866.7 1900.2 2003.7 4197.6 2683.6
(i)Cash 1044.0 1864.2 1687.7 1791.2 3615.1 1971.1
(ii)Investments 2333.8 2.5 212.5 212.5 582.5 712.5
3.Inventories 2046.3 2923.7 2511.5 2347.8 2311.3 2952.0
C.Fixed Assets:
4.Total assets (B4+C2) 13326.0 13861.2 14635.9 16857.9 18766.5 18660.1
D.Operation:
1.Gross sales 22107.2 21243.5 21054.3 21885.3 25973.0 31921.9
(i)Local sales 22107.2 21243.5 21054.3 21885.3 25973.0 31921.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 19424.9 18434.6 17852.0 17934.1 21308.9 26381.3
3.Gross profit 2682.3 2808.9 3202.3 3951.2 4664.1 5540.6
8.Tax provision 76.1 116.1 0.0 2.4 127.7 102.8
F.Cash Flow Data
12.Financial expenses as % of contractual liabilities (D6 as % B8) 20.0 234.9 - 9000.0 0.0 0.0
1.Dividend cover ratio [(D7 - D8) as % of D9] -206.2 1311.1 580.5 258.6 297.4 316.6
311
Ittehad Chemicals Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
1.Ordinary Share Capital - 250.0 300.0 300.0 360.0 360.0
2.Surplus - 159.2 231.6 963.6 1046.3 1054.9
3.Shareholder's Equity (A1+A2) - 409.2 531.6 1263.6 1406.3 1414.9
4.Prefrence Shares - 0.0 0.0 0.0 0.0 0.0
5.Debentures - 250.0 166.5 83.3 0.0 0.0
6.Other Fixed Laibilities - 329.2 760.3 1000.4 802.5 1150.5
7.Total Fixed Laibilities (A4+A5+A6) - 579.2 926.8 1083.7 802.5 1150.5
8.Total Capital Employed (A3+A7) - 988.4 1458.4 2347.3 2208.8 2565.4
B.Liquidity:
1.Liquid Assets: - 344.2 81.1 259.5 94.6 177.0
(i)Cash - 286.7 80.8 257.7 29.1 40.9
(ii)Investments - 57.5 0.3 1.8 65.5 136.1
2.Other Current Assets - 413.6 686.6 620.3 845.4 744.7
3.Inventories - 40.4 95.0 144.6 102.3 144.3
4.Current Assets (B1+B2+B3) - 798.2 862.7 1024.4 1042.3 1066.0
5.Current Liabilities - 588.2 938.0 1211.3 1323.1 921.4
6.Total Liabilities(A7+B5) - 1167.4 1864.8 2295.0 2125.6 2071.9
7.Net Current Assets(B4-B5) - 210.0 -75.3 -186.9 -280.8 144.6
8.Contractual Liabilities - 707.4 1535.3 1775.5 1637.9 1495.9
9.Net liquid assets (B1-B5) - -244.0 -856.9 -951.8 -1228.5 -744.4
C.Fixed Assets:
1.Fixed Asset At Cost - 974.1 1870.9 3022.5 3171.3 3283.5
2.Fixed assets after deducting accumulated depreciation - 778.3 1533.7 2534.3 2489.6 2420.9
3.Depreciation for the year - 18.2 76.8 151.3 194.7 181.9
4.Total assets (B4+C2) - 1576.5 2396.4 3558.7 3531.9 3486.9
D.Operation:
1.Gross sales - 1550.3 2208.1 2519.2 2958.6 3171.0
(i)Local sales - 1547.1 2208.1 2519.2 2958.6 3171.0
(ii)Export sales - 3.2 0.0 0.0 0.0 0.0
2.Cost of Sales - 1385.3 1875.0 2053.9 2336.6 2636.2
3.Gross profit - 165.0 333.1 465.3 622.0 534.8
4.Overhead and Other Expenses - 1464.1 2059.6 2221.9 2527.8 2863.0
5.Operating profit - 88.9 152.7 308.7 442.6 309.8
6.Financial expenses - 12.9 62.5 142.1 207.8 218.1
7.Net profit before tax (D5-D6) - 76.0 90.2 166.6 234.8 91.7
8.Tax provision - 20.0 9.7 11.0 12.9 14.4
9.Total amount of dividend - 37.5 0.0 0.0 54.0 54.0
10.Total value of bonus shares issued - 0.0 50.0 60.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - 0.0 470.0 888.9 -138.5 356.6
2.Retention in business (D7-D8-D9) - 18.5 80.5 155.6 167.9 23.3
3.Finance from outside the company (E1-E2) - -18.5 389.5 733.3 -306.4 333.3
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - 36.7 157.3 306.9 362.6 205.2
2.Depreciation for the year plus changes in capital employed (C3+E1) - 18.2 546.8 1040.2 56.2 538.5
2.Current ratio (B4 as % of B5) - 135.7 92.0 84.6 78.8 115.7
3.Acid test or Quick ratio (B4-B3 as % B5) - 128.8 81.8 72.6 71.0 100.0
5.Return on assets (D7 as % of C4) - 4.8 3.8 4.7 6.6 2.6
6.Self financing ratio (E2 as % of E1) - - 17.1 17.5 -121.2 6.5
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - 163.7 177.2 421.2 390.6 393.0
9.Overhead and other expenses as % of gross sales (D4 as % D1) - 94.4 93.3 88.2 85.4 90.3
11.Financial expense as % of gross sales (D6 as % of D1) - 0.8 2.8 5.6 7.0 6.9
14.Sundry debtors as % of gross sales - 9.6 7.8 8.0 15.0 9.4
15.Return on Equity (D7 as % of A3) - 18.6 17.0 13.2 16.7 6.5
3.Net profit margin (D7 as % of D1) - 4.9 4.1 6.6 7.9 2.9
6.Average annual % depreciation on written down fixed assets - 6.2 8.8 10.1 7.7 7.6
7.Sales as % of total assets (D1 as % of C4) - 98.3 92.1 70.8 83.8 90.9
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -94.8 0.0 86.7 16.1 -61.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - 0.2 42.4 14.1 17.4 7.2
10.Break-up value of ordinary shares (in rupees) - 16.4 17.7 42.1 39.1 39.3
312
Kausar Paints Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -36.1 -28.8 -28.9 -28.9 -28.9 -28.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.1 0.0 0.1 0.1 0.1 0.1
(i)Cash 0.1 0.0 0.1 0.1 0.1 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 1.2 0.6 0.6 0.6 0.6 0.6
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 14.5 7.3 -0.1 -0.1 -0.1 -0.1
6.Self financing ratio (E2 as % of E1) 402.8 100.0 - 0.0 0.0 0.0
313
Leiner Pak Gelatine Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 65.4 64.0 65.1 79.6 64.7 129.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.0 2.1 2.1 1.8 1.2 1.1
(i)Cash 2.0 2.1 2.1 1.8 1.2 1.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 64.9 80.1 0.0 111.9 112.8 130.6
C.Fixed Assets:
4.Total assets (B4+C2) 228.1 264.0 280.7 265.8 271.4 359.7
D.Operation:
1.Gross sales 196.8 216.4 229.9 265.8 273.5 254.4
(i)Local sales 39.2 49.7 69.1 100.2 118.1 126.8
(ii)Export sales 157.6 166.7 160.8 165.6 155.4 127.6
2.Cost of Sales 155.3 175.6 176.8 203.5 227.6 216.2
3.Gross profit 41.5 40.8 53.1 62.3 45.9 38.2
8.Tax provision 2.3 2.3 4.1 5.4 3.1 2.4
2.Retention in business (D7-D8-D9) 2.4 -1.5 2.3 15.0 2.0 -2.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 66.7 -13.0 - 174.4 -12.8 -3.3
314
Nimir Industrial Chemicals Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -1183.7 -339.0 -338.7 -746.9 -846.0 -844.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 35.4 48.3 126.3 93.4 135.2 49.6
(i)Cash 35.4 48.3 126.3 93.4 135.2 49.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 39.0 49.0 67.4 66.9 123.1 210.7
C.Fixed Assets:
4.Total assets (B4+C2) 1228.0 1416.1 1419.3 1452.0 1648.9 1692.4
D.Operation:
1.Gross sales 430.1 406.9 573.6 612.9 711.5 1121.6
(i)Local sales 430.1 406.9 573.6 612.9 706.9 1106.2
(ii)Export sales 0.0 0.0 0.0 0.0 4.6 15.4
2.Cost of Sales 469.2 452.0 572.9 634.2 692.6 970.3
3.Gross profit -39.1 -45.1 0.7 -21.3 18.9 151.3
5.Operating profit -188.9 -108.4 -223.5 -56.1 -37.6 96.5
8.Tax provision 2.1 2.0 2.9 3.0 5.0 5.4
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - -217.8 -146.2 21.3 75.2 -62.2
7.Cash flow ratio F1 as % of F2 -12816.7 -96.4 -114.5 14.3 55.7 315.8
10.Financial expenses as % of operating profit (D6 as % of D5) - - - -108.7 -149.5 71.1
315
Nimir Resins Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -580.6 -295.5 -295.6 -293.5 -243.2 -135.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.4 1.1 2.2 1.2 3.1 1.5
(i)Cash 1.4 1.1 2.2 1.2 3.1 1.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 29.7 30.6 48.2 47.0 106.1 155.3
C.Fixed Assets:
4.Total assets (B4+C2) 234.5 215.1 250.7 252.3 395.7 526.6
D.Operation:
1.Gross sales 236.1 221.8 386.8 580.1 752.0 1221.4
(i)Local sales 236.1 221.8 386.8 580.1 752.0 1221.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 227.9 215.6 367.3 548.3 699.5 1086.6
3.Gross profit 8.2 6.2 19.5 31.8 52.5 134.8
5.Operating profit -40.0 -60.8 -31.1 -15.5 38.6 119.6
8.Tax provision 1.2 1.1 1.7 2.5 3.3 5.3
2.Retention in business (D7-D8-D9) -50.2 -70.8 -39.9 -37.2 7.9 -71.3
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - -105.4 -381.7 -289.1 30.7 -60.1
10.Financial expenses as % of operating profit (D6 as % of D5) - - - -123.9 71.0 23.2
15.Return on Equity (D7 as % of A3) -96.6 -345.0 -190.0 -156.3 15.4 50.9
316
Otsuka Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 67.1 89.7 134.6 160.2 202.0 244.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4.3 2.7 2.1 2.9 4.0 3.2
(i)Cash 4.3 2.7 2.1 2.9 4.0 3.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 64.4 89.1 91.7 81.3 151.5 185.0
C.Fixed Assets:
4.Total assets (B4+C2) 288.0 343.6 450.3 518.0 652.9 819.6
D.Operation:
1.Gross sales 454.2 534.8 721.2 834.3 991.0 1217.5
(i)Local sales 454.2 534.8 721.2 834.3 991.0 1217.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 307.6 345.0 506.7 588.3 688.2 868.8
3.Gross profit 146.6 189.8 214.5 246.0 302.8 348.7
8.Tax provision 21.7 20.5 20.9 11.7 33.8 11.6
F.Cash Flow Data
317
Pakistan Gum & Chemicals Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 59.3 98.3 106.5 106.5 101.4 144.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 8.5 4.2 8.8 8.8 15.5 28.6
(i)Cash 8.5 4.2 8.8 8.8 15.5 28.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 52.6 146.5 186.0 186.0 123.4 164.3
C.Fixed Assets:
4.Total assets (B4+C2) 129.9 289.2 287.1 287.1 276.1 338.0
D.Operation:
1.Gross sales 426.2 400.1 443.1 443.1 619.4 792.9
(i)Local sales 122.9 90.4 167.1 167.1 197.0 234.3
(ii)Export sales 303.3 309.7 276.0 276.0 422.4 558.6
2.Cost of Sales 364.7 333.1 375.9 375.9 555.1 694.1
3.Gross profit 61.5 67.0 67.2 67.2 64.3 98.8
8.Tax provision 5.6 5.2 6.3 6.3 7.4 9.0
F.Cash Flow Data
318
Pakistan PTA Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -11098.9 -9752.3 -8702.4 -9255.4 -9314.5 -10988.9
5.Debentures 1065.8 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 320.6 21.6 32.2 57.7 74.2 16.4
(i)Cash 320.6 21.6 32.2 57.7 74.2 16.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 1963.9 4030.6 2835.6 3703.1 2344.6 1244.3
C.Fixed Assets:
4.Total assets (B4+C2) 19751.2 19377.9 17426.6 17915.8 17314.9 15222.9
D.Operation:
1.Gross sales 20629.5 26953.2 28424.9 30815.4 31535.5 35975.2
(i)Local sales 20629.5 26953.2 23170.9 27577.8 31535.5 35975.2
(ii)Export sales 0.0 0.0 5254.0 3237.6 0.0 0.0
2.Cost of Sales 20095.7 23640.2 25754.3 28579.0 30185.5 35106.9
3.Gross profit 533.8 3313.0 2670.6 2236.4 1350.0 868.3
8.Tax provision 81.6 110.0 410.9 485.0 206.8 65.9
F.Cash Flow Data
319
Pakistan PVC Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -11.7 -250.4 -212.4 -236.4 -101.7 -24.7
3.Shareholder's Equity (A1+A2) 38.2 -200.5 -162.5 -86.8 47.9 124.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 38.2 -200.5 -162.5 -86.8 47.9 124.9
B.Liquidity:
1.Liquid Assets: 0.2 0.1 0.7 0.3 0.2 0.1
(i)Cash 0.2 0.1 0.7 0.3 0.2 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 1.8 0.7 2.1 1.7 0.9 0.4
C.Fixed Assets:
4.Total assets (B4+C2) 579.6 374.5 374.7 370.8 363.7 354.9
D.Operation:
1.Gross sales 8.4 11.8 13.8 15.7 16.4 12.1
(i)Local sales 8.4 8.5 13.8 15.7 16.4 12.1
(ii)Export sales 0.0 3.3 0.0 0.0 0.0 0.0
2.Cost of Sales 62.2 17.0 19.6 25.3 23.0 17.6
3.Gross profit -53.8 -5.2 -5.8 -9.6 -6.6 -5.5
8.Tax provision 0.0 0.1 0.1 0.1 0.1 0.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - - -95.8 -31.6 -14.3 100.0
7.Cash flow ratio F1 as % of F2 - - -75.1 -24.8 -11.3 100.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 76.6 -401.8 -325.7 -58.0 32.0 83.5
15.Return on Equity (D7 as % of A3) -304.5 - - 0.0 -39.9 61.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -65.2 -9.9 -78.1 -18.8 -492.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -4.5 40.5 16.9 13.8 4.5 -26.2
10.Break-up value of ordinary shares (in rupees) 7.7 -40.2 -32.6 -5.8 3.2 8.3
320
Sanofi aventis(Aventis Pharma) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 335.9 578.6 807.5 1019.7 1016.8 1019.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.9 52.7 6.2 3.9 2.1 2.2
(i)Cash 3.9 52.7 6.2 3.9 2.1 2.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 527.5 596.3 1074.0 797.3 1077.0 1104.9
7.Net Current Assets(B4-B5) -13.8 264.9 334.3 414.1 322.1 -79.4
C.Fixed Assets:
4.Total assets (B4+C2) 1597.3 1483.9 2121.2 1988.0 2427.1 2983.5
D.Operation:
1.Gross sales 3057.7 3351.4 3684.0 4150.2 4203.6 4676.5
(i)Local sales 3057.7 3351.4 3684.0 4122.6 4190.2 4648.7
(ii)Export sales 0.0 0.0 0.0 27.6 13.4 27.8
2.Cost of Sales 2203.5 2366.7 2519.8 2885.9 3117.6 3620.7
3.Gross profit 854.2 984.7 1164.2 1264.3 1086.0 1055.8
8.Tax provision 75.0 125.6 140.1 111.9 35.4 47.4
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - 63.8 4.5 -11.3 -64.5 -33.6
321
Sardar Chemical Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 27.5 28.5 27.0 27.4 30.2 30.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.9 2.5 0.8 3.1 7.4 3.0
(i)Cash 0.9 2.5 0.8 3.1 7.4 3.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 53.9 44.6 42.8 40.4 38.8 39.5
C.Fixed Assets:
4.Total assets (B4+C2) 156.5 157.2 154.4 153.6 163.1 164.8
D.Operation:
1.Gross sales 100.5 108.9 103.8 107.1 117.5 125.1
(i)Local sales 97.1 104.9 99.4 101.9 114.0 122.3
(ii)Export sales 3.4 4.0 4.4 5.2 3.5 2.8
2.Cost of Sales 77.9 85.5 81.9 80.3 84.0 95.0
3.Gross profit 22.6 23.4 21.9 26.8 33.5 30.1
7.Net profit before tax (D5-D6) -2.6 1.3 -1.0 1.1 4.8 2.2
8.Tax provision 0.4 0.5 0.5 0.5 0.6 0.8
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -3.6 1.9 -1.5 -0.5 5.4 -1.3
2.Retention in business (D7-D8-D9) -3.0 0.8 -1.5 0.6 2.7 1.4
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -1.7 0.8 -0.6 0.7 2.9 1.3
6.Self financing ratio (E2 as % of E1) - 42.1 - -120.0 50.0 -107.7
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 38.5 - 45.5 12.5 36.4
15.Return on Equity (D7 as % of A3) -3.0 1.5 -1.1 1.3 5.3 2.4
3.Net profit margin (D7 as % of D1) -2.6 1.2 -1.0 1.0 4.1 1.8
4.Earning per share before tax (D7/No. of ordinary shares) -0.4 0.2 -0.2 0.2 0.8 0.4
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -0.5 0.1 -0.3 0.1 0.7 0.2
322
Searle Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 81.3 613.0 700.9 712.0 705.9 839.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 306.9 274.2 225.0 273.9 93.8 269.3
(i)Cash 106.9 74.2 25.0 73.9 93.8 69.3
(ii)Investments 200.0 200.0 200.0 200.0 0.0 200.0
3.Inventories 124.3 208.2 216.2 239.6 385.6 223.5
C.Fixed Assets:
4.Total assets (B4+C2) 1409.7 1884.0 1895.5 2322.6 2459.3 2279.1
D.Operation:
1.Gross sales 1923.8 2026.7 2473.2 3240.5 3114.5 3253.4
(i)Local sales 1815.0 1916.9 2295.0 3064.7 2964.9 3147.1
(ii)Export sales 108.8 109.8 178.2 175.8 149.6 106.3
2.Cost of Sales 1350.6 1355.7 1813.9 2289.4 2155.7 2287.5
3.Gross profit 573.2 671.0 659.3 951.1 958.8 965.9
8.Tax provision 37.5 65.5 41.6 71.8 64.1 81.6
F.Cash Flow Data
323
Shaffi Chemical Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -8.0 -60.8 -7.9 12.6 56.3 52.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 14.4 14.8 14.3 14.7 57.9 55.4
(i)Cash 0.2 0.6 0.1 0.5 0.1 0.5
(ii)Investments 14.2 14.2 14.2 14.2 57.8 54.9
3.Inventories 26.8 25.0 13.3 10.8 14.4 7.0
C.Fixed Assets:
4.Total assets (B4+C2) 300.5 244.5 230.2 227.2 274.0 285.7
D.Operation:
1.Gross sales 23.9 13.7 13.1 5.8 12.7 128.6
(i)Local sales 23.9 13.7 13.1 5.8 12.7 128.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 49.3 13.7 22.2 9.9 12.5 100.6
3.Gross profit -25.4 0.0 -9.1 -4.1 0.2 28.0
8.Tax provision 0.0 0.1 0.1 0.0 0.1 0.6
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -159.5 - 64.3 84.9 3.9 -276.3
7.Cash flow ratio F1 as % of F2 -135.3 - 66.4 86.9 9.7 -1091.7
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -38.9 -42.7 -4.4 -55.7 119.0 912.6
324
Sitara Chemical Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 913.6 1059.2 1309.1 1472.3 1736.7 3338.2
5.Debentures 423.7 249.3 122.4 1108.9 1646.9 0.0
B.Liquidity:
1.Liquid Assets: 109.1 150.3 99.1 416.4 335.5 1593.3
(i)Cash 76.8 116.0 81.4 401.0 252.7 240.9
(ii)Investments 32.3 34.3 17.7 15.4 82.8 1352.4
3.Inventories 229.8 347.6 319.1 407.0 441.7 526.9
C.Fixed Assets:
4.Total assets (B4+C2) 2871.9 3051.4 3622.1 5370.4 6384.6 8793.4
D.Operation:
1.Gross sales 3224.8 3566.7 4584.4 4383.3 5043.0 6355.4
(i)Local sales 3175.5 3526.8 4488.4 4383.3 4989.7 6292.2
(ii)Export sales 49.3 39.9 96.0 0.0 53.3 63.2
2.Cost of Sales 2712.8 2936.7 3684.0 3678.2 3958.7 4800.1
3.Gross profit 512.0 630.0 900.4 705.1 1084.3 1555.3
8.Tax provision 16.5 154.0 132.7 1.0 21.9 320.9
F.Cash Flow Data
325
Wah Nobel Chemicals Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 95.9 106.7 131.6 123.1 125.1 209.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 55.1 47.3 38.4 33.9 56.3 40.8
(i)Cash 29.2 22.3 13.4 8.9 30.6 9.4
(ii)Investments 25.9 25.0 25.0 25.0 25.7 31.4
3.Inventories 25.0 38.9 49.2 46.3 57.3 117.4
C.Fixed Assets:
4.Total assets (B4+C2) 316.3 391.2 403.1 412.7 426.3 570.1
D.Operation:
1.Gross sales 236.0 304.2 572.1 643.6 571.5 810.2
(i)Local sales 236.0 304.2 572.1 643.6 571.5 810.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 179.6 249.8 498.6 565.5 490.4 588.5
3.Gross profit 56.4 54.4 73.5 78.1 81.1 221.7
8.Tax provision 14.1 11.5 2.9 6.7 12.3 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 18.5 32.2 136.0 -284.5 -52.4 125.8
326
Wyeth Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 688.0 688.0 934.7 1135.9 1269.3 988.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 80.7 80.7 397.4 600.5 772.0 137.9
(i)Cash 80.7 80.7 397.4 25.5 52.0 50.9
(ii)Investments 0.0 0.0 0.0 575.0 720.0 87.0
3.Inventories 471.1 471.1 498.7 610.8 563.2 756.4
9.Net liquid assets (B1-B5) -180.9 -180.9 54.7 191.5 358.7 -240.8
C.Fixed Assets:
4.Total assets (B4+C2) 1094.4 1094.4 1419.6 1687.0 1824.8 1509.5
D.Operation:
1.Gross sales 1885.3 1885.3 1885.9 2013.5 2170.2 2491.0
(i)Local sales 1746.7 1746.7 1731.7 1842.4 2005.7 2318.7
(ii)Export sales 138.6 138.6 154.2 171.1 164.5 172.3
2.Cost of Sales 1139.0 1139.0 1221.9 1256.4 1434.9 1786.3
3.Gross profit 746.3 746.3 664.0 757.1 735.3 704.7
8.Tax provision 117.3 117.3 95.5 119.2 99.0 80.7
F.Cash Flow Data
327
Abbott Laboratories (Pakistan) Ltd.
Opp. Radio Pakistan Transmission Centre, Hyderabad Road, Landhi, Karachi.
Mr. Munir A. Shaikh(Chairman) The Royal Bank of Scotland Ltd. M/s. Yousuf Adil Saleem & Co.
Mr. Asif Jooma(Chief Executive) Bank of Tokyo - Mitsubishi Ltd.
Mr. Angelo Kondes(Director) Citibank N.A.
Mr. Kamran Y. Mirza(Director) Deutsche Bank AG
Mr. Imran A. Halai(Director) MCB Bank Ltd.
Mr. Shamim Ahmed Khan(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Sadi Syed(Director) The Hongkong & Shanghai Banking Corp. Ltd.
Date of Annual General Meeting 26th March , 2009 Face Value Rs. 10.00
Year Ending : 30th November , 2008 Market Price as on 30/11/2008 Rs. 110.00

Pharma products
BOC Pakistan Ltd,

BOC Pakistan Ltd., West Wharf, Dockyard Road, Karachi-74000.
() Standard Chartered Bank ( Pakistan) Ltd. KPMG Taseer Hadi & Co.
Mr. Munnawar Hamid OBE(Chairman) Citibank N.A.
Syed Ayaz Bokhari(M.D. / C.E.O.) Deutsche Bank Ag
Mr. Lee Bon Hian(Director) MCB Bank Ltd.
Mr. Sanjiv Lamba(Director) National Bank Of Pakistan
Mr. Muhammad Ashraf Bawany(Director) NIB Bank Ltd.
Mr. Sanaullah Qureshi(Director)
Date of Annual General Meeting 22nd April , 2009 Face Value Rs. 10.00
Preference Shares(%) 0 Investment Yield% 6

Oxygen/Nitrogen Cubic meters (Ths.) 52,248 44,955
Hydrogen Cubic meters (Ths.) 3,434 1,682
Dissolved acetylen Cubic meters (Ths.) 836 131
328
Bawany Air Products Ltd.
Khasra No. 52/53 R.C.D. Highway, Mouza Pathara, Tehsil Hub, Distt. Lasbella, Balochistan
Mr. Hanif Y. Bawany(Chairman / C.E.O.) RBS Bank Ltd. M/S M. Yousuf Adil Saleem & Co.
Mr. Danish Amin(Director) United Bank Ltd.
Mr. Muhammad Ashraf(Director) Orix Investment Bank Of Pakistan Ltd.
Ms. Momiza Kapadia(Director) MCB Bank Ltd.
Mr. Vali Mohammad M. Yahya(Director)
Mr. Wazir Ahmed Jogezai(Director)
Mr. Zakaria A. Gaffar(Director)

Oxygen Th. Cubic Meters 4,233 2,228
Nitrogen Th. Cubic Meters 252 180
Dissolved acetylen Th. Cubic Meters 144 8
Berger Paints Pakistan Ltd.

D-31 South Avenue, S.I.T.E., Karachi-75700.
Mr. Zahid Zaheer(Chairman) Citibank N.A. M/s. A.F.Ferguson & Co.
Mr. Bashir Ahmed(Chief Executive) The Royal Bank of Scotland
Dr. Mahmood Ahmad(Director) Habib Metropolitan Bank Limted
Mr. C. H. Clover(Director) Habib Bank Ltd.
Mr. Maqbool H. H. Rahimtoola(Director) JS Bank Ltd.
Mr. Ilyas Sharif(Director) MCB Bank Ltd.
Mr. Sikander Dada(Director) United Bank Limited

Paints Liters in thousand Indeterminable 28,775
329
Biafo Industries Ltd.
203-204, 2nd Floor, Muhammad Gulistan Khan House, 82-East, Fazal-e-Haq Road, Blue Area, Islamabad.
Mr. M. Afzal Khan(Chairman) RBS Bank Ltd. KPMG Taseer Hadi & Co.
Khawaja Amanullah Askari(Chief Executive) Bank Of Khyber
Maj. Gen. (Retd.) S. Z. M. Askree(Director) Bank Al-Falah Ltd.
Ms. Shirin Safdar(Director) Habib Bank Ltd.
Mr. S.M.Sibtain(Director) National Bank Of Pakistan
Dr. M. Humayun Khan(Director) Allied Bank Of Pakistan
Mr. Zafar Khan(Director) Standard Chartered Bank ( Pakistan) Ltd.
Date of Annual General Meeting 25th September, 2008 Face Value Rs. 10.00

Tovex water gell and powder explosives M. Tons 6000 3989
Detonator-plain No. (thousands) 8000 6977
Detonator-electric No. (thousands) 450 282
Buxly Paints Ltd.

Plot No. X/3, Manghopir Road, S.I.T.E, Karachi-75700.
Mr. Mohammad Naseem(Chairman) NIB Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Shamshad Ali(Chief Executive) Bank Al-Habib Ltd.
Mr.Shaikh Ajaz Majid(Director) Habib Bank Ltd.
Mr. Bashir Ahmed(Director) MCB Bank Ltd.
Mr. Salman Tarik Kurashi(Director) National Bank Of Pakistan
Mr. Saeed Mohammad Shaikh(Director)
Mr. Aamir Amin (NIT)(Director)
Date of Annual General Meeting 22nd October , 2008 Face Value Rs. 10.00

Paints Liters Indeterminable 1,330,482
330
Clariant Pakistan Ltd.
1-A/1, Sector-20, Korangi Industrial Area, Korangi, Karachi.
Mr. Mujtaba Rahim(Chairman / C.E.O.) RBS Bank Ltd. M/S A. F. Ferguson & Co.
Mr. Veqar Arif(Director) Citibank N.A.
Mr. Shamshad Ahmad(Director) The Hongkong Shanghai Banking Corporation Ltd.
Dr. S. Mubarik Ali(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Peter Lindner(Director) Habib Bank Ltd.
Mr. Andreas Walde(Director) National Bank Of Pakistan
Mr. Walter Kindler(Director)

Multi-product Metric tons indeterminable 47,447
Colgate-Palmolive (Pakistan) Ltd.

Lakson Square Building No.2, Sarwar Shaheed Road, Karachi-74200.
Mr. Iqbal Ali Lakhani(Chairman) RBS Bank Ltd. M/S A. F. Fergusan & Co.
Mr. Zulfiqar Ali Lakhani(Chief Executive) Habib Bank Ltd.
Mr. Amin Mohammed Lakhani(Director) MCB Bank Ltd.
Mr. A. Aziz Ebrahim(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Fabian T. Garcia(Director)
Mr. Peter John Graylin(Director)
Mr. Tasleemuddin Ahmed Batlay(Director)

Multiple consumer goods M. Tons 105,500 90,656
331
Data Agro Ltd.
3-A, Race View, Jail Road, Lahore
Mr. Faaiz Rahim Khan(Chief Executive) Albaraka Islamic Investment Bank B.S.C (E.C) M/s. Rafaqat Mansha Mohsin Dossani Masoom &
Mr. Asif Rahim Khan(Director) Habib Bank Ltd.
Mr. Muhammad Ayub Khan(Director) MCB Bank Ltd.
Mr. Hamid Jamshed(Director) NIB Bank Ltd.
Mr. Sohail Ahmad Khan(Director) The Bank Of Punjab
Mr. Umar Sadik(Director) Allied Bank Ltd.
Mrs. Badar Hussain(Director)

Seed processing M. Tons 18,250 4,849
Dawood Hercules Chemicals Ltd.

35-A, Shahrah-e-Abdul Hameed Bin Baadees (Empress Road), Lahore.
Mr. Hussain Dawood(Chairman) Allied Bank Limited KPMG Taseer Hadi & Co.
Mr. Shahzada Dawood(Chief Executive) Bank Al-Habib Ltd.
Mr. Isar Ahmed(Director) Faysal Bank Ltd.
Mr. Abdul Ghafoor Gohar(Director) MCB Bank Ltd.
Mr. Abdul Samad Dawood(Director) Habib Bank Ltd.
Mr. Khawaja Amanullah(Director) Habib Metropolitan Bank Limted
Mr. Haroon Mahenti(Director) United Bank Limited

Urea Fertilizer M. Tons 445,500 508,050
332
Descon Oxychem Ltd.
Descon Headquaters, 18 Km Ferozpur Road, Lahore-53000.
Mr. Abdur Razzak Dawood(Chairman) Allied Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Muhammad Nabeel Arif(Chief Executive) Askari Bank Ltd.
Mr. Mansoor Ahmed Khan(Director) Habib Metropolitan Bank Ltd.
Shaikh Azhar Ali(Director) Habib Bank Ltd.
Mr. Taimur Dawood(Director)
Syed Zamanat Abbas(Director)
Mr. Muhammad Sadiq(Director)
Percentage Dividend rate : Highest Price in 2008 Rs.
Ordinary Shares (%) Lowest Price in 2008 Rs.
Ordinary Shares Bonus (%) Average Price in 2008 Rs.

Chemicals especially hydrogen peroxide M.Tons 15,000 Nil
Dynea Pakistan Ltd.

1st Floor, Siddiquesons Tower, 3-Jinnah Coooperative Housing Society, Block 7/8, Shahrah-e-Faisal, Karachi.
Mr. Per Haga(Chairman) Citi Bank M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Alireza M. Alladin(Chief Executive) NIB Bank Ltd.
Mr. Shabbir Abbas(Director) United Bank Limited
Mr. Chew Teck Liong(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Doneld John Jenkin(Director) Habib Metropolitan Bank Limted
Mr. Farooq Hassan (NIT)(Director) Habib Bank Ltd.
Mr. Rafiq M. Habib(Director)

Urea/Melamine formaldehyde M. Tons 34,000 35,017
Formaldehyde M. Tons 39,000 31,034
Aminoplast compound M. Tons 10,000 9,498
333
Engro Chemical Pakistan Ltd.
7th & 8th Floor, The Harbor Front Building, HC # 3, Marine Drive, Block-4, Clifton, Karachi.
Mr. Hussain Dawood(Chairman) KPMG Taseer Hadi & Co. Habib Bank Ltd.
Mr. Asad Umar(President / C.E.O.) Allied Bank Limited
Mr. Asif Qadir(Director) Bank Al-Habib Ltd.
Mr. Arshad Nasar(Director) Bank Al-Falah
Mr. Isar Ahmed(Director) ABN Amro Bank
Mr. Shabbir Hashmi(Director) Askari Commercial Bank Ltd.
Mr. Khalid Mansoor(Director) Citibank N.A.
Date of Annual General Meeting 27th February , 2009 Face Value Rs. 10.00

PVC Resin M. Tons 100,000 98,660
Processed Milk Thousand Liters 320,580 177,347
Urea M. Tons 975,000 995,020
Fauji Fertilizer Bin Qasim Ltd

73-Harley Street, Rawalpindi
Lt. Gen.(Retd.) Hamid Rab Nawaz(Chairman) MCB Bank Ltd. KPMG Taseer Hadi & Co.
Lt. Gen.(Retd.) Anis A. Abbasi(M.D. / C.E.O.) Habib Bank Ltd.
Lt. Gen. (Retd.) Munir Hafiez(Director) Askari Commercial Bank Ltd.
Mr. Istaqbal Mehdi(Director) Faysal Bank Ltd.
Mr. Qaiser Javed(Director) Habib Bank Ltd.
Dr. Nadeem Inayat(Director)
Brig. (Retd.) Liaqat Ali(Director)

Urea Metric tons 551,100 667,697
DAP Metric tons 445,500 470,999
334
Fauji Fertilizer Company Ltd.
93-Harley Street, Rawalpindi Cantt., Rawalpindi.
Lt. Gen. (Retd.) Hamid Rab Nawaz(Chairman) Habib Bank Ltd. M/s. KPMG Tasir Hadi & Co.
Lt. Gen. (Retd.) Munir Hafiez(M.D. / C.E.O.) MCB Bank Ltd.
Brig. (Retd.) Arif Rasul Qureshi(Director) National Bank Of Pakistan
Maj. Gen. (Retd.) Muhammad Tahir(Director)
Brig. (Retd.) Rahat Khan(Director)
Dr. Haldor Topsoe(Director)
Mr. Istaqbal Mehdi(Director)

DAP M. Tons 446 471
Urea M. Tons 2,599 2,990
Ferozsons Laboratories Ltd.

Plot No.197-A, The Mall, Rawalpindi.
Mrs. Akhtar Khalid Waheed(Chairperson / CEO. Standard Chartered Bank ( Pakistan) Ltd. KPMG Taseer Hadi & Co.
Mr. Osman Khalid Waheed(President) Bank Alfalah Ltd.
Mr. Nihal A. Cassim(Director) Habib Bank Ltd.
Mr. Farooq Mazhar(Director) Allied Bank Ltd.
Mr. Dost Mohammad Khan Sherpao(Director)
Mr. M .M. Isphani(Director)
Mr. Muhammad Nawaz Tishna (NIT)(Director)

Pharmaceutical cannot be determined
335
Glaxosmithkline (Pakistan) Ltd.
35-Dockyard Road, West Wharf, Karachi.
Mr. M. Salman Burney(Chairman / C.E.O.) Citibank N.A. M/s. A. F. Fergusan & Co.
Dr. Muzaffar Iqbal(Director) The Royal Bank of Scotland Ltd.
Mr. Javed Ahmedjee(Director) Habib Bank Ltd.
Mr. Rafique Dawood(Director) HSBC Bank Middle East Limited
Mr. Shahid Mustafa Qureshi(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Tariq Iqbal Khan(Director)
Dr. Iffat Yazdani(Director)

Medicines and pharma products
Highnoon Laboratories Ltd.

17.5 Kilometer, Multan Road, Lahore-53700.
Mr. Jawaid Tariq Khan(Chairman) National Bank of Pakistan. KPMG Taseer Hadi & Co.
Mr. Anees Ahmad Khan(Vice Chairman) JS Bank Ltd. MCB Bank Limited
Mr. Tausif Ahmad Khan(Vice Chairman) Habib Bank Ltd.
Mr. Aslam Hafiz(Chief Executive) United Bank Ltd.
Mr. Ghulam Hussain Khan(Director) Faysal Bank Ltd.
Mian Muhammad Ashraf(Director) Allied Bank Ltd.
Mrs. Nosheen Riaz Khan(Director)

pharma products
336
ICI Pakistan Ltd.
ICI House, 5-West Wharf, Karachi-74000
Mr. M. J. Jaffer(Chairman) Oman International Bank KPMG Taseer Hadi & Co.
Mr. Waqar A. Malik(Chief Executive) Askari Commercial Bank Ltd.
Mr. Muhammad Zahir(Director) Citibank N.A.
Mr. Pervez A. Khan(Director) Deutsche Bank A.G.
Mr. M. Niwaz Tiwana(Director) Muslim Commercial Bank Ltd.
Mr. Ali A Aga(Director) National Bank Of Pakistan
Mr. James R Rees(Director) United Bank Limited

Polyster M. Tons 122,000 110,656
Soda Ash M. Tons 285,000 258,320
Paints M. Tons - 39,188
Ittehad Chemicals Ltd.

Plot No.39 Empress Road, Lahore
Mr. Mohd.Siddique Khatari(Chairman / C.E.O.) Askari Commercial Bank Limited M/S BOD Ebrahim & Co.
Mr. Abdul Aziz Khatri(Director) Allied Bank Of Pakistan
Mr. Abdul Sattar Khatri(Director) Metropolitan Bank Limited
Mr. Mansoor Ahmed Khatri(Director) Muslim Commercial Bank Limited
Mr. Fawad Yousuf(Director) Pakistan Industrial Credit & Investment Corp. Lt
Mr.Abdul Ghafoor Khatri(Director) Prime Commercial Bank Limited
Ms. Farhana Sattar(Director) Saudi Pak Industrial & Agriculture Investment Co

Caustic soda M. Tons 143,550 99,442
Liquid chlorine M. Tons 13,220 8,219
Hydrocloric acid M. Tons 123,750 101,865
337
Kausar Paints Ltd.
63-1/4, Nishtar Road, Near Fatima Jinnah School, Garden West, Karachi
Saheeb S. M. Yousuf Baghpatee(Chairman) United Bank Ltd. M/S. Saud Ansari & Company
S. Mohd. Yahya Baghpatee(M.D. / C.E.O.) Bolan Bank Ltd.
Begum Nargis Shahid(Director) PICIC
Begum Saheba Ateeq Mian Yousuf(Director)
Mian S. Javed Yousuf Baghpatee(Director)
Mian S. Zafar Shakil Baghpatee(Director)
Mr. Mukhtar Uddin Qureshi(Director)


Paint chemicals
Note: The company is under liquidation
and its shares are non trading at KSE.
Leiner Pak Gelatine Ltd.

17/G Gulberg-2, GPO Box No.415,Lahore.
Khwaja Imtiaz Ahmed(M.D. / C.E.O.) Bank Of Punjab M/S Ali & Company
Khwaja Ahmed Hussan(Director) United Bank Ltd.
Khwaja Ibrar Ahmed(Director)
Khwaja Ijaz Ahmed(Director)
Khwaja Muhammad Kamran(Director)
Khwaja Umer Riaz(Director)
Mr. Iqbal Dossa(Director)

DI-Calcium Phosphate M. Tons 15,000 4,806
Gelatine (blended/unblended) M. Tons 3,000 903
338
Nimir Industrial Chemicals Ltd.
Plot No.51-N, Industrial Area, Gulberg-II, Lahore
Mr. Louis Tucker Link(Chairman) Bank Of Punjab M/S Ford Rhodes Sidat Hyder & Co.
Mr. Zafar Mahmood(Chief Executive) Samba Bank Limited
Mr. Imran Afzal(Director) Saudi Pak Commercial Bank
Mr. Sh. Amar Hameed(Director) MCB Bank Ltd.
Mr. Abdul Jalil Jamil(Director)
Mr. Umer Iqbal(Director)
Mr. Saeed-uz-Zaman(Director)

Oleo Chemicals M. Tons 24,000 10,270
Power House KWH 71,280 30,642
Caustic Soda M. Tons 31,350 29,237
Nimir Resins Ltd.

DESCON World Head Quater, 18 KM Ferozepur Road, Lahore-53000.
Mr. A. Razak Dawood(Chairman) Bank Al-Habib Ltd. M/S M. Hussain Chaudhry & Co.
Mr. Taimoor Dawood(Chief Executive) MCB Bank Ltd.
Mr. Muhammad Sadiq(Director) Habib Bank Ltd.
Mr. Zafar Mahmood(Director)
Mr. Kamal Nasir-ud-din(Director)
Mr. Umer Iqbal(Director)
Mr. Faisal Dawood(Director)
Preference Shares(%) 0 Investment Yield%

Alkyd, Polyvinyl & Acrylic M. Tons Indeterminable 9,338
339
Otsuka Pakistan Ltd.
Plot No.30-B, Sindh Muslim Co-operative Housing Society, Karachi-74400.
Mr. Minoru Okamoto(Chairman) Allied Bank Of Pakistan Ltd. M/S A. F. Ferguson & Co.
Mr. Abid Hussain(Chief Executive) Habib Bank Ltd.
Mr. Takaharu Imai(Director) MCB Bank Ltd.
Mr. Bambang Koestoyo(Director) Bank Alflah Limited
Mr. Nazimuddin Feroz(Director) The Bank Of Tokyo Mitsubishi Ltd.
Mr. Kiyoshi Fukai(Director) National Bank of Pakistan.
Mr. Mehtabuddin Feroz(Director) Standard Chartered Bank ( Pakistan) Ltd.

I.V. Solution Million bottles 31.5 29.8
Plastic Ampoules Million bottles 8.0 1.1
Pakistan Gum & Chemicals Ltd.

B-19/A Irshad Qadri Road, S.I.T.E., Karachi-75700.
Mr. Mohammad Moonis(Chairman) Askari Commercial Bank Ltd. M/s. Fords Rhodes Sidat Hyder & Co.
Mr. Asad Waseem(Chief Exec. Officer) Habib Bank Ltd.
Mr. Mohammad Ali Hanafi(Chief Executive) Muslim Commercial Bank Ltd.
Mr. Ozair Ahmed Hanafi(Director) Habib Metorpolitan Bank Ltd.
Mr. Zaeem Ahmed Hanafi(Director) My Bank Ltd.
Mr. Shoaib Ahmad(Director)
Mr. Tariq Mohamed Amin(Director)

Seed processing M. Tons 35,000 22,890
340
Pakistan PTA Ltd.
EZ/1/P-4 Eastern Industrial Zone, Port Qasim, Karachi.
Mr. Waqar A Malik(Chairman) Askari Commerial Bank Ltd. KPMG Taseer Hadi & Co.
Mr. M. Asif Saad(Chief Executive) The Royal Bank of Scotland Limited
Mr. James R Rees(Director) Citibank N.A.
Mr. Bart Kaster(Director) Habib Bank Ltd.
Mr. Ali A. Agha(Director) MCB Bank Ltd.
Mr. Tajammul Hussain Bokharee(Director) HSBC Bank Middle East Limited
Mr. Khalid Rafi(Director) National Bank Of Pakistan

Polyester staple fibres M. Tons 473,528 445,001
Pakistan PVC Ltd.

Shaffiabad, Gharo, District Thatta, Sindh
Mr. Reyaz Shaffi(Chairman / C.E.O.) MCB Bank Ltd. M/s.Khalid Majid Rahman Sarfaraz Rahim Iqbal R
Mr. Ijaz Ahmad Khan(Director) The Royal Bank of Scotland Ltd.
Mr. Adeel Shaffi(Director) Union Bank Ltd.
Mr. Asif Shaffi(Director)
Mr. Arif Shaffi(Director)
Mr. Mohammad Iqbal(Director)
Mr. Adnan Shaffi(Director)

PVC pipes and fittings Thousand Meter 9,012 360
341
Sanofi aventis(Aventis Pharma)
Plot No.23, Sector No.22, Korangi Industrial Area, Karachi
Syed Babar Ali(Chairman) RBS Bank Ltd. M/S Ford Rhodes Sidat Hyder & Co.
Mr. Tariq Wajid(Managing Director) Deutsche Bank A.G.
Mr. Tariq Iqbal Khan(Director) Habib Bank Ltd.
Mr. J.L.Grunwald(Director) Citibank N. A.
Mr. M.Z.Moin Mohajir(Director) Standard Chartered Bank
Pir Ali Gohar(Director) MCB Bank Ltd.
Syed Hyder Ali(Director)

Pharma products
Sardar Chemical Industries Ltd.

No.29-B, Road No.1, Gadoon Amazai Industrial Estate, Topi, Ganduf Road, Swabi. (N.W.F.P)
Sardar Mahmood Sadiq(Chief Executive) Allied Bank Of Pakistan Ltd. M/s. Aslam Malik & Co.
Mr. Fayyaz Ahmed Khan(Director) Askari Commercial Bank Ltd.
Mr. Iftikhar Ahmed Khan(Director)
Mr. Sardar Ayaz Sadiq(Director)
Mrs. Mona Mahmood(Director)
Mrs. Reema Ayaz(Director)
Mr. Shahid Aziz(Director)

Chemicals M. Tons 660 407
342
Searle Pakistan Ltd.
1st Floor, NIC Building, Abbasi Shaheed Road, Off: Shahrah-e-Faisal, Karachi.
Mr. Rashid Abdulla(Chairman / C.E.O.) Citi Bank N. A. M/s. Anjum Asim Shahid Rahman & Co.
Mr. S. Nadeem Ahmed(Director) Habib Metropolitan Bank Ltd.
Mr. Munis Abdulla(Director) The Royal Bank of Scotland Ltd.
Mr. Shuja Malik(Director) Habib Bank Ltd.
Mr. Khalid Malik(Director) National Bank Of Pakistan
Mr. Mushtaq Abdulla(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Abdul Hamid Dagia(Director)

Liquid bottles 16,000 30,769
Tablets Numbers 440,000 932,505
Capsules Numbers 45,000 40,623
Shaffi Chemical Industries Ltd.

Plot # 2,Gadoon Amazai Industrial Estate, Swabi, (N.W.F.P)
Mr. Waqar A.Shaffi(Chairman / C.E.O.) Allied Bank Of Pakistan Ltd. M/s. Hamid Khan & Co.
Mr. Mohib Hussain(Director) Saudi Pak Com. Bank Ltd.
Mr. Muhammad Sameer(Director) Habib Metropolitan Bank Limted
Mr. Zahoor Ahmed(Director)
Mr. Shariq Iftikhar(Director)
Mr. Sohail Malik(Director)
Mr. Hashim Aslam Butt(Director)

Chemical products
343
Sitara Chemical Industries Ltd.
601-602, Business Centre, Mumtaz Hasan Road,Karachi.
Haji Bashir Ahmed(Chairman) Albaraka Islamic Bank M/S M. Yousuf Adil Saleem & Co.
Mr. Mohammad Adrees(Chief Executive) Allied Bank Of Pakistan Ltd.
Mr. Imran Ghafoor(Director) Askari Bank Ltd.
Mr. Javed Iqbal(Director) The Bank Of Punjab
Mr. Mohammad Anis(Director) MCB Bank Ltd.
Mr. Rashid Zahir (SPAICL)(Director) Faysal Bank Ltd.
Mr. Haseeb Ahmed(Director) Habib Bank Ltd.

Caustic Soda metric tons 178,200 151,695
Sodium Hypochlorite metric tons 66,000 43,624
Bleaching Powder metric tons 7,500 4,985
Wah Nobel Chemicals Ltd.

Wah Noble Chemicals, G. T. Road, Wah Cantt.
Lt. Gen. Syed Sabahat Hussain(Chairman) Bank Al Habib Ltd. M/s. Anjum Asim Shahid Rahman
Mr. Rolf Ekberg(Vice Chairman) MCB Bank Ltd.
Syed Naseem Raza(Director)
Mr. Shahid Ahmed(Director)
Mr. Feroze Khan Malik(Director)
Mr. Muhammad Nawaz Tishna (NIT)(Director)
Mr. Aftab Iqbal(Director)

Formaldehyde and formaline solvant M. Tons 30,000 22,766
Urea / phenol formaldehyde M. Tons 19,000 23,193
344
Wyeth Pakistan Ltd.
S-33, Hawksbay Road, S.I.T.E. (GPO Box # 167), Karachi.
Mr. Arshad Rahim Khan(Chairman / C.E.O.) The Royal Bank of Scotland Ltd. M/s. A.F.Fergusons & Co.
Khawaja Bakhtiar Ahmed(Director) Citibank N.A.
Mr. Baldev Arora(Director)
Mr. Edward Michael Henricks(Director)
Mr. Behram Hasan(Director)
Mr. Mark Larsen(Director)
Mr. Gaetan Crucke(Director)
Year Ending : 31st December , 2008 Market Price as on 31/12/2008 Rs. 2,600.00
Percentage Dividend rate : Highest Price in 2008 Rs. 2,350.00
Ordinary Shares (%) 150 Lowest Price in 2008 Rs. 1,760.00
Ordinary Shares Bonus (%) Average Price in 2008 Rs. 2,062.26

Pharma products
345
ENGINEERING SECTOR
Engineering Sector (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 14760.7 23270.8 31278.4 41639.6 54799.5 61684.9
5.Debentures 0.0 296.0 221.9 147.8 73.7 0.0
B.Liquidity:
1.Liquid Assets: 22471.9 27015.7 38801.4 35606.3 35216.6 25728.3
(i)Cash 17355.5 23007.7 32123.0 26322.6 25300.4 16493.0
(ii)Investments 5116.4 4008.0 6678.4 9283.7 9916.2 9235.3
3.Inventories 15608.6 23183.8 33998.7 43528.7 41152.2 43592.8
C.Fixed Assets:
4.Total assets (B4+C2) 67507.0 88131.6 118663.4 141231.0 153949.9 166109.1
D.Operation:
1.Gross sales 99059.9 139637.5 203924.0 255490.8 271839.2 285537.1
(i)Local sales 97572.3 138285.1 201377.7 253376.7 269228.0 281555.6
(ii)Export sales 1487.5 1352.4 2546.3 2114.1 2611.2 3981.5
2.Cost of Sales 83969.1 122465.6 182892.8 227154.2 242814.3 259055.7
3.Gross profit 15090.7 17171.9 21031.2 28336.6 29024.9 26481.4
8.Tax provision 2808.2 4025.6 4368.4 6988.2 6127.0 4520.4
F.Cash Flow Data
347
Engineering

250
200
150
%
100
50
0
2003 2004 2005 2006 2007 2008
70 14
60 12
50 10
Rupees
40 8
%
30
6
20
4
10
2
0
2003 2004 2005 2006 2007 2008 0
2003 2004 2005 2006 2007 2008
348
Ados Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -13.9 -7.5 4.8 9.8 4.0 11.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.8 26.9 15.9 34.8 263.8 130.4
(i)Cash 0.8 26.9 15.9 34.8 263.8 114.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 16.0
3.Inventories 3.3 3.3 3.3 3.3 3.3 128.5
C.Fixed Assets:
4.Total assets (B4+C2) 99.7 114.4 116.4 264.6 382.9 321.1
D.Operation:
1.Gross sales 66.8 81.2 298.4 359.7 790.6 337.0
(i)Local sales 66.8 81.2 298.4 359.7 790.6 337.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 57.4 66.1 262.9 323.9 702.6 284.8
3.Gross profit 9.4 15.1 35.5 35.8 88.0 52.2
8.Tax provision 0.0 0.4 1.5 1.8 6.2 6.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -150.0 15.6 64.2 220.0 -293.1 82.1
7.Cash flow ratio F1 as % of F2 -150.0 50.0 73.3 220.0 -1420.0 88.8
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -114.3 -300.0 600.0 35.7 84.2 -45.7
349
Agriauto Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 73.7 219.5 466.7 720.3 920.4 1117.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.1 137.8 227.1 388.2 475.2 602.6
(i)Cash 3.1 52.8 27.0 35.3 49.3 163.4
(ii)Investments 0.0 85.0 200.1 352.9 425.9 439.2
3.Inventories 117.9 151.5 188.9 312.5 310.1 285.0
C.Fixed Assets:
4.Total assets (B4+C2) 307.5 567.1 693.8 1028.0 1207.2 1471.6
D.Operation:
1.Gross sales 696.7 1281.8 1455.7 2029.0 2279.6 2484.9
(i)Local sales 696.7 1281.8 1455.7 2029.0 2279.6 2484.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 547.1 938.2 1095.6 1496.4 1743.0 1973.0
3.Gross profit 149.6 343.6 360.1 532.6 536.6 511.9
8.Tax provision 39.0 101.0 63.0 156.9 156.0 143.5
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 709.1 161.8 13.3 45.5 1.3 -8.2
350
Al-Ghazi Tractors Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1698.9 2469.6 2909.1 3335.2 3636.5 4213.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2099.2 3000.2 5768.6 5668.9 5403.4 3795.8
(i)Cash 1113.3 2050.2 5017.3 5142.1 4384.6 3349.0
(ii)Investments 985.9 950.0 751.3 526.8 1018.8 446.8
3.Inventories 378.7 648.0 740.1 731.0 708.7 1931.4
C.Fixed Assets:
4.Total assets (B4+C2) 3042.7 4180.2 7245.4 7278.3 6827.3 7086.1
D.Operation:
1.Gross sales 5537.2 6836.4 7851.6 9148.3 9209.5 10241.9
(i)Local sales 5537.2 6836.4 7851.6 9148.3 9209.5 10241.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 4030.5 5237.9 6249.1 7513.2 7556.0 8664.1
3.Gross profit 1506.7 1598.5 1602.5 1635.1 1653.5 1577.8
8.Tax provision 481.0 520.0 576.6 645.0 663.0 562.0
F.Cash Flow Data
351
Atlas Battery Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 103.3 164.0 193.6 222.6 275.2 510.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 20.4 26.4 32.6 30.6 37.5 49.3
(i)Cash 16.6 26.4 32.6 30.3 37.5 49.3
(ii)Investments 3.8 0.0 0.0 0.3 0.0 0.0
3.Inventories 130.4 103.2 211.7 218.0 306.2 410.7
C.Fixed Assets:
4.Total assets (B4+C2) 303.6 375.5 505.4 562.9 755.3 1206.8
D.Operation:
1.Gross sales 635.6 793.7 1230.5 1564.0 2065.4 3376.6
(i)Local sales 611.8 751.0 1218.4 1556.3 2063.2 3376.6
(ii)Export sales 23.8 42.7 12.1 7.7 2.2 0.0
2.Cost of Sales 494.4 620.2 1072.9 1375.0 1773.8 2989.7
3.Gross profit 141.2 173.5 157.6 189.0 291.6 386.9
8.Tax provision 19.0 26.8 9.7 6.1 26.5 59.5
F.Cash Flow Data
352
Atlas Engineering Ltd. (Allwin Engineering Industries Ltd.) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 142.4 174.4 140.3 146.2 431.7 450.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9.3 29.1 6.9 13.6 10.1 6.8
(i)Cash 9.3 29.1 6.9 13.6 10.1 6.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 58.7 69.2 117.7 207.8 154.6 197.5
C.Fixed Assets:
4.Total assets (B4+C2) 405.4 496.6 714.4 903.0 1136.8 1208.4
D.Operation:
1.Gross sales 438.5 582.4 796.2 1114.7 1087.8 1411.7
(i)Local sales 438.5 582.4 796.2 1114.7 1087.8 1411.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 380.3 490.9 673.6 976.5 1010.1 1269.9
3.Gross profit 58.2 91.5 122.6 138.2 77.7 141.8
8.Tax provision 1.9 2.5 3.5 4.7 4.6 0.0
F.Cash Flow Data
353
Atlas Honda Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 907.7 1308.1 1836.8 2278.7 2540.2 2916.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1021.2 751.5 1842.6 1026.5 1784.6 1895.4
(i)Cash 1021.2 227.1 1432.4 682.1 919.6 504.1
(ii)Investments 0.0 524.4 410.2 344.4 865.0 1391.3
3.Inventories 557.3 1285.0 1567.5 1937.7 1580.9 1862.1
C.Fixed Assets:
4.Total assets (B4+C2) 2655.3 4110.4 6072.5 7601.1 8012.3 8689.8
D.Operation:
1.Gross sales 8064.1 11460.6 16855.2 20547.2 19601.1 24301.7
(i)Local sales 8064.1 11460.6 16855.2 20547.2 19601.1 24301.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 7036.3 10226.4 15511.0 18917.5 18037.3 22745.2
3.Gross profit 1027.8 1234.2 1344.2 1629.7 1563.8 1556.5
8.Tax provision 220.0 192.0 383.8 138.0 98.0 298.0
F.Cash Flow Data
354
Automotive Battery Co. Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -0.2 6.4 11.1 30.6 34.5 37.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.4 6.6 5.6 6.0 8.2 25.0
(i)Cash 7.4 6.6 5.6 6.0 8.2 25.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 32.8 36.8 54.8 59.8 58.8 94.5
C.Fixed Assets:
4.Total assets (B4+C2) 131.7 127.1 143.2 161.3 168.2 233.6
D.Operation:
1.Gross sales 263.1 312.8 368.2 385.8 448.2 685.3
(i)Local sales 263.1 298.8 348.5 366.3 405.7 665.1
(ii)Export sales 0.0 14.0 19.7 19.5 42.5 20.2
2.Cost of Sales 231.1 275.6 330.8 349.1 404.0 632.5
3.Gross profit 32.0 37.2 37.4 36.7 44.2 52.8
8.Tax provision 1.4 3.6 2.0 1.0 1.9 2.6
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - 72.7 -5.3 -55.6 50.0 -25.0
355
Baluchistan Wheels Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 148.1 181.7 284.6 395.8 490.5 569.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 83.2 96.2 35.4 100.1 71.5 129.8
(i)Cash 74.5 86.3 26.7 97.7 69.0 52.2
(ii)Investments 8.7 9.9 8.7 2.4 2.5 77.6
3.Inventories 104.1 112.4 232.1 319.4 318.3 275.4
C.Fixed Assets:
4.Total assets (B4+C2) 486.0 542.5 589.7 828.6 966.6 985.2
D.Operation:
1.Gross sales 418.1 615.0 908.1 1332.2 1344.0 1434.8
(i)Local sales 411.1 610.7 898.3 1324.0 1323.1 1402.8
(ii)Export sales 7.0 4.3 9.8 8.2 20.9 32.0
2.Cost of Sales 333.8 492.3 722.0 1028.2 1057.5 1168.7
3.Gross profit 84.3 122.7 186.1 304.0 286.5 266.1
8.Tax provision 13.0 22.6 53.3 75.3 26.3 54.3
F.Cash Flow Data
356
Bela Automotives Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 55.5 60.7 119.0 123.2 124.6 128.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.0 1.3 2.3 2.0 1.3 1.1
(i)Cash 1.0 1.3 2.3 2.0 1.3 1.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 26.1 20.8 21.1 23.8 26.5 30.3
C.Fixed Assets:
4.Total assets (B4+C2) 234.2 240.9 308.5 315.8 314.1 323.1
D.Operation:
1.Gross sales 31.5 61.5 81.1 94.4 64.6 84.5
(i)Local sales 31.5 61.5 81.1 94.4 64.6 84.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 26.3 49.3 66.3 83.8 55.7 71.3
3.Gross profit 5.2 12.2 14.8 10.6 8.9 13.2
8.Tax provision 0.2 0.3 0.4 0.4 0.3 0.4
F.Cash Flow Data
357
Bolan Castings Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 169.4 208.7 203.3 282.9 270.1 274.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 52.5 31.4 31.4 53.9 37.2 6.1
(i)Cash 47.0 22.9 22.9 37.2 18.2 6.1
(ii)Investments 5.5 8.5 8.5 16.7 19.0 0.0
3.Inventories 46.9 100.4 100.4 125.3 206.7 157.7
C.Fixed Assets:
4.Total assets (B4+C2) 303.7 333.1 333.1 557.9 715.6 807.0
D.Operation:
1.Gross sales 419.1 636.7 636.7 977.1 1079.7 1310.9
(i)Local sales 419.1 636.7 636.7 977.1 1079.7 1307.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 3.6
2.Cost of Sales 338.1 531.4 531.4 874.8 991.1 1196.9
3.Gross profit 81.0 105.3 105.3 102.3 88.6 114.0
8.Tax provision 0.0 29.7 29.7 25.5 4.4 5.7
F.Cash Flow Data
358
Crescent Steel & Allied Products Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 960.2 1295.6 1585.2 1686.6 2733.3 2480.1
5.Debentures 0.0 296.0 221.9 147.8 73.7 0.0
B.Liquidity:
1.Liquid Assets: 753.6 1241.2 1522.9 1328.4 2337.5 2745.3
(i)Cash 53.2 18.0 53.1 15.8 37.0 8.2
(ii)Investments 700.4 1223.2 1469.8 1312.6 2300.5 2737.1
3.Inventories 205.0 240.5 194.3 468.5 633.5 606.1
C.Fixed Assets:
4.Total assets (B4+C2) 1459.5 2225.4 2532.0 3713.7 4695.6 4846.1
D.Operation:
1.Gross sales 1738.9 1543.9 3080.2 1859.3 3184.8 4638.2
(i)Local sales 1738.9 1543.9 3080.2 1859.3 3184.8 4638.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1398.0 1374.4 2708.3 1718.9 2674.3 3741.8
3.Gross profit 340.9 169.5 371.9 140.4 510.5 896.4
8.Tax provision 91.3 18.5 88.9 4.1 4.1 164.0
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -22.1 16.9 -56.6 108.0 -21.8
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 34.4 -11.2 99.5 -39.6 71.3 45.6
359
Dadex Eternit Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 325.6 332.1 385.4 361.2 384.6 411.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 41.8 374.0 65.6 7.6 11.2 147.7
(i)Cash 36.5 368.7 59.8 2.3 9.9 46.6
(ii)Investments 5.3 5.3 5.8 5.3 1.3 101.1
3.Inventories 287.8 361.2 586.8 815.8 734.9 776.3
C.Fixed Assets:
4.Total assets (B4+C2) 711.1 1183.2 1231.7 1492.2 1430.5 1694.6
D.Operation:
1.Gross sales 847.5 1141.5 1527.6 1550.5 1966.1 2332.9
(i)Local sales 835.7 1121.1 1500.5 1526.2 1940.7 2306.6
(ii)Export sales 11.8 20.4 27.1 24.3 25.4 26.3
2.Cost of Sales 634.2 896.0 1223.8 1255.7 1570.4 1859.9
3.Gross profit 213.3 245.5 303.8 294.8 395.7 473.0
8.Tax provision 24.8 43.0 26.2 13.0 11.3 10.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -97.6 -29.9 33.8 42.3 100.0 18.3
1.Dividend cover ratio [(D7 - D8) as % of D9] 251.1 83.0 185.8 -8.0 119.5 162.4
360
Dewan Automotive Engineering Ltd. (Allied Motors Ltd.) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -58.6 -96.7 -146.5 -252.2 -528.1 -716.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 92.3 116.3 -56.5 -162.2 -270.9 -481.3
B.Liquidity:
1.Liquid Assets: 1.7 3.8 0.9 31.0 87.7 41.7
(i)Cash 1.7 3.8 0.9 31.0 47.7 41.7
(ii)Investments 0.0 0.0 0.0 0.0 40.0 0.0
3.Inventories 82.9 62.8 81.9 212.7 414.8 283.6
C.Fixed Assets:
4.Total assets (B4+C2) 198.0 181.0 221.4 453.2 1912.4 1960.8
D.Operation:
1.Gross sales 27.5 32.2 14.6 131.1 682.7 628.7
(i)Local sales 27.5 32.2 14.6 131.1 682.7 628.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 34.8 48.7 30.9 184.0 746.6 682.2
3.Gross profit -7.3 -16.5 -16.3 -52.9 -63.9 -53.5
8.Tax provision 0.1 0.0 0.1 0.7 3.2 2.8
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -52.1 -87.7 - 90.3 605.7 166.0
361
Dewan Farooque Motors Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 116.8 270.5 539.0 871.3 913.0 289.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 170.1 152.0 146.1 853.7 862.6 90.6
(i)Cash 170.1 152.0 146.1 148.2 87.9 90.6
(ii)Investments 0.0 0.0 0.0 705.5 774.7 0.0
3.Inventories 815.5 1930.8 1837.3 2519.2 1567.6 1234.2
C.Fixed Assets:
4.Total assets (B4+C2) 3474.8 5102.9 6312.1 7704.6 6887.1 5852.6
D.Operation:
1.Gross sales 5534.7 7685.8 10294.2 10636.1 8576.8 6327.6
(i)Local sales 5534.7 7685.8 10294.2 10636.1 8576.8 6327.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 4902.1 6980.0 9241.2 9535.6 7710.3 6174.6
3.Gross profit 632.6 705.8 1053.0 1100.5 866.5 153.0
8.Tax provision 23.5 32.9 43.9 117.4 36.2 27.3
F.Cash Flow Data
362
Exide Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 251.6 294.2 348.0 617.0 695.1 775.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 57.4 101.4 79.5 90.2 93.4 136.1
(i)Cash 31.9 75.9 54.0 64.7 60.9 96.0
(ii)Investments 25.5 25.5 25.5 25.5 32.5 40.1
3.Inventories 162.2 232.0 353.7 410.5 556.1 920.0
C.Fixed Assets:
4.Total assets (B4+C2) 493.0 757.7 864.9 1153.1 1303.2 1847.4
D.Operation:
1.Gross sales 1182.0 1491.1 1888.2 1853.6 2807.8 4396.3
(i)Local sales 1182.0 1491.1 1888.2 1853.6 2807.8 4396.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 981.2 1245.4 1619.2 1591.3 2442.2 3957.4
3.Gross profit 200.8 245.7 269.0 262.3 365.6 438.9
8.Tax provision 0.0 37.8 21.2 41.4 52.5 44.4
F.Cash Flow Data
363
Gauhar Engineering Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -29.3 -29.3 -29.3 -29.3 -29.3 -29.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.0 0.0 0.0 0.0 0.0
(i)Cash 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 28.3 28.3 28.3 28.3 28.3 28.3
D.Operation:
1.Gross sales 1.3 1.3 1.3 1.3 1.3 1.3
(i)Local sales 1.3 1.3 1.3 1.3 1.3 1.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1.5 1.5 1.5 1.5 1.5 1.5
3.Gross profit -0.2 -0.2 -0.2 -0.2 -0.2 -0.2
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
364
General Tyre & Rubber Co. Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 306.5 587.2 804.1 848.6 640.7 624.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 144.3 46.0 82.1 79.0 78.4 100.6
(i)Cash 143.1 44.8 79.6 79.0 78.4 100.6
(ii)Investments 1.2 1.2 2.5 0.0 0.0 0.0
3.Inventories 517.9 655.2 880.2 1012.7 907.2 1051.8
C.Fixed Assets:
4.Total assets (B4+C2) 1665.2 1970.9 2702.7 3393.0 3516.0 4009.1
D.Operation:
1.Gross sales 2605.0 3266.7 3697.7 4323.1 4605.7 5422.3
(i)Local sales 2605.0 3266.7 3697.7 4323.1 4605.7 5422.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 2074.9 2640.1 3114.2 3801.6 4137.8 4912.0
3.Gross profit 530.1 626.6 583.5 521.5 467.9 510.3
8.Tax provision 131.1 151.0 59.6 57.5 30.3 23.4
F.Cash Flow Data
365
Ghandhara Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -554.9 -485.8 -290.8 1064.4 1063.2 1082.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 363.3 343.8 95.6 355.5 129.9 114.1
(i)Cash 23.9 5.3 2.2 262.4 128.5 22.9
(ii)Investments 339.4 338.5 93.4 93.1 1.4 91.2
3.Inventories 128.2 335.3 370.5 695.7 649.3 468.1
C.Fixed Assets:
4.Total assets (B4+C2) 824.7 1106.5 783.0 2222.9 2286.4 2142.2
D.Operation:
1.Gross sales 258.8 644.1 1166.8 1714.7 1921.9 1870.0
(i)Local sales 258.8 641.1 1166.8 1714.7 1921.9 1870.0
(ii)Export sales 0.0 3.0 0.0 0.0 0.0 0.0
2.Cost of Sales 225.9 573.5 1078.0 1489.0 1616.7 1727.0
3.Gross profit 32.9 70.6 88.8 225.7 305.2 143.0
8.Tax provision 1.3 3.2 5.1 34.3 78.6 13.1
3.Finance from outside the company (E1-E2) -210.7 21.9 204.1 851.0 38.8 -4.5
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - 71.3 -0.3 37.9 79.9 126.5
366
Ghandhara Nissan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -503.7 53.1 339.6 407.7 569.9 1015.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 70.8 70.2 41.2 36.6 72.2 514.5
(i)Cash 2.3 69.1 41.2 36.6 49.0 207.0
(ii)Investments 68.5 1.1 0.0 0.0 23.2 307.5
3.Inventories 47.5 483.1 1323.1 1346.0 772.8 789.7
C.Fixed Assets:
4.Total assets (B4+C2) 547.2 1715.7 2658.9 2860.4 2398.2 3101.1
D.Operation:
1.Gross sales 97.4 1187.0 4072.5 5185.3 3019.1 3924.6
(i)Local sales 97.4 1187.0 4072.5 5185.3 3019.1 3924.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 127.5 1056.5 3690.9 4565.1 2522.4 3402.8
3.Gross profit -30.1 130.5 381.6 620.2 496.7 521.8
8.Tax provision 0.5 6.2 37.5 134.0 105.5 101.7
F.Cash Flow Data
367
Ghani Automobiles Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - - -32.0 -32.0 -71.4 -70.3
5.Debentures - - 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - - 47.6 8.0 22.9 6.1
(i)Cash - - 47.6 8.0 22.9 6.1
(ii)Investments - - 0.0 0.0 0.0 0.0
3.Inventories - - 1.2 7.5 31.3 80.2
7.Net Current Assets(B4-B5) - - 53.5 35.3 93.7 89.0
9.Net liquid assets (B1-B5) - - 45.9 -13.6 7.0 -233.4
C.Fixed Assets:
4.Total assets (B4+C2) - - 69.7 89.6 144.5 383.6
D.Operation:
1.Gross sales - - 18.5 51.0 149.5 283.3
(i)Local sales - - 18.5 51.0 149.5 283.3
(ii)Export sales - - 0.0 0.0 0.0 0.0
2.Cost of Sales - - 17.5 50.5 137.4 249.4
3.Gross profit - - 1.0 0.5 12.1 33.9
5.Operating profit - - -0.6 1.2 -34.4 8.9
7.Net profit before tax (D5-D6) - - -0.6 1.2 -38.8 2.4
8.Tax provision - - 1.3 0.4 0.7 1.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - 0.0 60.6 15.5
2.Retention in business (D7-D8-D9) - - -1.9 0.8 -39.5 1.2
3.Finance from outside the company (E1-E2) - - - -0.8 100.1 14.3
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - -1.2 1.8 -37.2 5.0
5.Return on assets (D7 as % of C4) - - -0.9 1.3 -26.9 0.6
15.Return on Equity (D7 as % of A3) - - -0.9 1.8 -30.2 1.9
3.Net profit margin (D7 as % of D1) - - -3.2 2.4 -26.0 0.8
4.Earning per share before tax (D7/No. of ordinary shares) - - -0.1 0.1 -1.9 0.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - -0.2 0.1 -2.0 0.1
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - -110.0 -200.0 -2000.0 -105.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - 175.7 193.1 89.5
368
Hinopak Motors Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 795.7 1222.7 1346.5 1588.7 2046.0 1816.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 422.4 525.4 58.0 118.3 260.9 70.2
(i)Cash 422.4 475.4 58.0 118.3 260.9 70.2
(ii)Investments 0.0 50.0 0.0 0.0 0.0 0.0
3.Inventories 1277.2 1779.4 1790.7 2381.3 2533.2 2398.6
C.Fixed Assets:
4.Total assets (B4+C2) 3002.2 3414.3 3164.6 4141.9 4908.3 5001.5
D.Operation:
1.Gross sales 4290.9 6337.4 7395.2 7200.4 8159.2 12630.7
(i)Local sales 4290.9 6337.4 7395.2 7200.4 8159.2 12630.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 3507.6 5567.4 6718.1 6365.8 6771.6 11379.5
3.Gross profit 783.3 770.0 677.1 834.6 1387.6 1251.2
8.Tax provision 193.0 159.0 131.8 194.5 333.0 68.0
3.Finance from outside the company (E1-E2) -99.2 188.5 -23.8 51.5 177.3 -256.1
F.Cash Flow Data
369
Honda Atlas Cars (Pakistan) Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1247.6 1478.5 1658.5 2252.0 1660.8 1737.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1263.0 3515.7 6632.4 1504.1 219.9 231.9
(i)Cash 1263.0 3514.9 5874.0 360.2 219.9 231.9
(ii)Investments 0.0 0.8 758.4 1143.9 0.0 0.0
3.Inventories 940.9 1708.5 3159.2 4169.1 2704.9 1612.7
C.Fixed Assets:
4.Total assets (B4+C2) 2941.5 6965.5 11776.9 9141.1 8239.2 6752.2
D.Operation:
1.Gross sales 5035.6 9610.4 17038.9 30236.1 20106.3 17430.8
(i)Local sales 5035.6 9610.4 17038.9 30236.1 20106.3 17430.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 4468.2 8854.4 16755.9 29068.6 20006.4 16803.3
3.Gross profit 567.4 756.0 283.0 1167.5 99.9 627.5
8.Tax provision 0.0 226.2 85.5 420.7 87.8 75.8
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 212.0 93.3 -3.0 56.6 -57.3 1.8
370
Huffaz Seamless Pipe Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 39.2 59.8 123.0 178.5 885.8 917.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 10.8 7.0 5.8 47.2 18.9 61.7
(i)Cash 10.8 7.0 5.8 47.2 18.9 61.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 157.0 150.4 305.5 366.9 344.9 172.4
C.Fixed Assets:
4.Total assets (B4+C2) 550.9 547.3 785.8 1027.1 1776.7 1773.4
D.Operation:
1.Gross sales 386.6 413.1 687.1 1119.2 946.7 1184.8
(i)Local sales 379.1 412.4 687.1 1118.8 945.4 1184.8
(ii)Export sales 7.5 0.7 0.0 0.4 1.3 0.0
2.Cost of Sales 353.8 355.0 577.2 924.6 792.1 972.2
3.Gross profit 32.8 58.1 109.9 194.6 154.6 212.6
8.Tax provision 2.0 2.1 3.1 34.6 11.6 48.0
F.Cash Flow Data
371
Indus Motor Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1798.4 2638.7 3718.1 5465.8 7254.4 8650.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7464.4 6962.0 6720.0 7416.2 8543.3 4328.6
(i)Cash 4775.4 6962.0 6720.0 7416.2 8543.3 4328.6
(ii)Investments 2689.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 1802.3 2537.2 3168.9 3959.3 2860.0 2637.6
C.Fixed Assets:
4.Total assets (B4+C2) 11069.3 11556.4 12184.0 15816.4 15661.6 13748.1
D.Operation:
1.Gross sales 16113.3 23193.7 32717.7 41787.6 46384.5 49425.3
(i)Local sales 16113.3 23193.7 32717.7 41787.6 46384.5 49425.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 13966.6 20500.0 30011.5 37640.0 41943.9 45576.8
3.Gross profit 2146.7 2693.7 2706.2 4147.6 4440.6 3848.5
8.Tax provision 0.0 860.5 812.1 1352.8 1389.8 939.7
F.Cash Flow Data
372
International Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 475.7 1191.5 1281.9 1566.8 1767.2 2946.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 295.3 70.6 2.2 429.0 1362.9 28.1
(i)Cash 295.3 70.6 2.2 429.0 3.9 28.1
(ii)Investments 0.0 0.0 0.0 0.0 1359.0 0.0
3.Inventories 1134.8 2116.5 2583.8 2025.9 3309.9 4591.6
C.Fixed Assets:
4.Total assets (B4+C2) 2808.8 4243.8 4932.1 5242.4 8594.7 10615.8
D.Operation:
1.Gross sales 3797.6 4987.5 8089.4 8727.0 11020.2 13761.5
(i)Local sales 3159.2 4050.0 6507.0 7186.4 9063.0 10742.0
(ii)Export sales 638.4 937.5 1582.4 1540.6 1957.2 3019.5
2.Cost of Sales 3289.2 4197.8 7220.3 7486.5 9597.2 11974.1
3.Gross profit 508.4 789.7 869.1 1240.5 1423.0 1787.4
8.Tax provision 102.0 153.0 101.0 182.0 166.0 140.1
F.Cash Flow Data
373
Johnson & Philips (Pakistan) Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -263.6 -53.3 -33.7 -31.6 -13.3 97.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.9 40.9 3.9 3.8 19.3 23.2
(i)Cash 2.9 1.1 3.9 3.8 10.3 14.2
(ii)Investments 0.0 39.8 0.0 0.0 9.0 9.0
3.Inventories 0.0 37.4 38.1 40.9 43.8 41.4
C.Fixed Assets:
4.Total assets (B4+C2) 290.3 197.1 199.6 236.5 314.1 408.8
D.Operation:
1.Gross sales 83.7 62.6 162.7 233.3 377.4 251.8
(i)Local sales 74.1 62.6 162.7 233.3 377.4 251.8
(ii)Export sales 9.6 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 88.5 66.1 131.5 207.5 309.3 213.0
3.Gross profit -4.8 -3.5 31.2 25.8 68.1 38.8
8.Tax provision 0.4 0.3 0.8 1.2 1.9 1.3
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 0.0 120.6 -0.4 -9.4 109.4 95.1
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - -6.3 - -60.6 20.8 6.6
7.Cash flow ratio F1 as % of F2 -1000.0 -3.7 473.6 -81.9 26.7 15.6
15.Return on Equity (D7 as % of A3) - -608.3 97.1 30.1 60.0 5.0
374
KSB Pumps Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 146.9 206.5 277.5 347.5 470.1 556.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 53.2 135.4 122.5 138.9 267.0 77.7
(i)Cash 53.2 135.4 119.6 136.1 267.0 75.4
(ii)Investments 0.0 0.0 2.9 2.8 0.0 2.3
3.Inventories 117.6 164.7 200.3 267.1 244.9 348.2
C.Fixed Assets:
4.Total assets (B4+C2) 532.4 669.5 845.7 830.0 1082.0 1218.1
D.Operation:
1.Gross sales 703.7 924.0 1297.9 1441.9 1708.3 1911.9
(i)Local sales 645.9 851.1 1196.3 1305.6 1537.4 1784.3
(ii)Export sales 57.8 72.9 101.6 136.3 170.9 127.6
2.Cost of Sales 549.3 721.6 959.8 1016.9 1242.1 1404.3
3.Gross profit 154.4 202.4 338.1 425.0 466.2 507.6
8.Tax provision 12.8 24.7 51.0 57.5 62.0 10.8
F.Cash Flow Data
375
Metropolitan Steel Corporation Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -1133.3 -840.1 -782.1 -764.7 991.6 985.1
3.Shareholder's Equity (A1+A2) -823.5 -530.3 -472.3 -454.9 1301.4 1294.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.3 1.0 24.4 1.1 3.2 1.0
(i)Cash 0.3 1.0 24.4 0.8 2.6 0.7
(ii)Investments 0.0 0.0 0.0 0.3 0.6 0.3
3.Inventories 38.2 80.4 134.2 158.9 159.1 224.3
C.Fixed Assets:
4.Total assets (B4+C2) 610.8 952.7 1182.9 1230.2 3058.4 3324.2
D.Operation:
1.Gross sales 27.0 567.2 1565.7 1474.2 1528.2 1455.8
(i)Local sales 27.0 567.2 1563.0 1474.2 1528.2 1391.3
(ii)Export sales 0.0 0.0 2.7 0.0 0.0 64.5
2.Cost of Sales 73.2 562.3 1443.8 1393.4 1478.6 1411.2
3.Gross profit -46.2 4.9 121.9 80.8 49.6 44.6
8.Tax provision 0.0 2.4 6.8 6.4 7.0 6.7
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 15.6 13.6 95.9 95.2 -0.4 -50.8
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -265.8 -171.2 -152.5 -146.8 420.1 418.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -83.0 2000.7 176.0 -5.8 3.7 -4.7
376
Millat Tractors Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1139.6 1449.0 1904.4 2306.3 2492.7 2834.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 763.3 814.6 2880.9 4101.0 2902.8 3669.8
(i)Cash 627.5 649.7 297.8 263.1 122.1 249.4
(ii)Investments 135.8 164.9 2583.1 3837.9 2780.7 3420.4
3.Inventories 810.4 1402.5 2314.5 2283.9 1840.1 1636.2
C.Fixed Assets:
4.Total assets (B4+C2) 2617.4 3552.3 6322.8 7445.2 6247.9 7250.9
D.Operation:
1.Gross sales 5342.6 7036.2 8427.7 9876.7 11142.5 11432.5
(i)Local sales 5297.1 6918.7 8282.4 9787.6 11092.7 11279.0
(ii)Export sales 45.5 117.5 145.3 89.1 49.8 153.5
2.Cost of Sales 4690.2 6188.9 7504.7 8709.3 10002.3 9928.5
3.Gross profit 652.4 847.3 923.0 1167.4 1140.2 1504.0
8.Tax provision 146.5 210.5 240.0 342.0 200.0 292.0
F.Cash Flow Data
377
Pak Elektron Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1539.2 1955.0 1398.6 1329.3 2114.3 3547.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 242.0 232.1 396.0 460.1 549.1 487.4
(i)Cash 136.4 117.9 335.3 448.9 536.6 434.5
(ii)Investments 105.6 114.2 60.7 11.2 12.5 52.9
3.Inventories 535.2 1309.1 1956.6 2576.0 2507.7 3571.2
7.Net Current Assets(B4-B5) -235.6 -363.9 330.8 -167.7 937.8 1361.7
C.Fixed Assets:
4.Total assets (B4+C2) 5071.8 6483.2 7761.9 9505.2 10965.2 15821.2
D.Operation:
1.Gross sales 3943.1 6078.2 8075.3 11042.2 13077.7 13926.6
(i)Local sales 3897.6 5930.0 7947.3 10885.9 12939.7 13836.5
(ii)Export sales 45.5 148.2 128.0 156.3 138.0 90.1
2.Cost of Sales 3124.2 5016.1 6586.0 8994.5 10547.8 11089.2
3.Gross profit 818.9 1062.1 1489.3 2047.7 2529.9 2837.4
8.Tax provision 30.9 47.7 51.7 50.0 59.1 39.9
F.Cash Flow Data
378
Pak Suzuki Motor Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 3461.3 4971.0 7220.5 10145.6 12767.2 12945.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5761.6 6795.4 9913.9 8324.2 5627.4 2503.5
(i)Cash 5732.8 6694.0 9647.0 8043.6 5484.1 2499.1
(ii)Investments 28.8 101.4 266.9 280.6 143.3 4.4
3.Inventories 2258.4 3765.3 4968.1 9232.7 9184.4 7732.5
C.Fixed Assets:
4.Total assets (B4+C2) 9503.8 13435.0 18624.4 21817.5 20814.7 16572.2
D.Operation:
1.Gross sales 18852.1 28670.9 41381.3 47187.9 60747.8 48240.7
(i)Local sales 18852.1 28670.9 41381.3 47187.9 60650.3 48240.7
(ii)Export sales 0.0 0.0 0.0 0.0 97.5 0.0
2.Cost of Sales 16208.6 26254.3 37808.4 41627.2 55987.6 47650.1
3.Gross profit 2643.5 2416.6 3572.9 5560.7 4760.2 590.6
8.Tax provision 888.0 772.0 950.0 1871.0 1465.0 330.0
F.Cash Flow Data
379
Pakistan Cables Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 120.8 172.8 798.5 937.1 1005.4 1143.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 17.5 25.9 35.6 285.4 55.3 90.3
(i)Cash 8.4 16.8 26.5 248.0 7.4 23.7
(ii)Investments 9.1 9.1 9.1 37.4 47.9 66.6
3.Inventories 276.4 499.3 723.9 984.4 1133.4 1018.6
C.Fixed Assets:
4.Total assets (B4+C2) 563.5 833.0 1812.7 2718.3 2979.1 3345.9
D.Operation:
1.Gross sales 964.7 1287.2 2333.9 3492.2 4810.8 4442.6
(i)Local sales 964.7 1287.2 2333.9 3492.2 4810.8 4442.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 823.0 1102.9 2014.4 2997.1 4196.6 4072.7
3.Gross profit 141.7 184.3 319.5 495.1 614.2 369.9
8.Tax provision 28.0 32.0 44.2 49.2 68.3 19.7
F.Cash Flow Data
380
Pakistan Engineering Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 4.9 -6.7 73.1 182.6 414.5 487.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 178.4 15.4 45.8 93.8 156.4 56.0
(i)Cash 178.4 15.4 45.8 32.9 104.9 24.5
(ii)Investments 0.0 0.0 0.0 60.9 51.5 31.5
3.Inventories 375.6 152.8 362.7 214.9 211.7 268.8
C.Fixed Assets:
4.Total assets (B4+C2) 2658.7 2261.4 2541.7 2473.1 2632.0 2722.1
D.Operation:
1.Gross sales 269.5 457.4 980.0 959.9 1123.2 1184.5
(i)Local sales 269.5 457.4 980.0 959.9 1123.2 1184.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 232.1 396.4 715.9 742.4 900.0 954.3
3.Gross profit 37.4 61.0 264.1 217.5 223.2 230.2
8.Tax provision 1.3 2.3 4.3 4.2 4.9 59.0
F.Cash Flow Data
381
Pakistan Telephone Cables Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -69.2 -26.8 -0.6 52.3 42.3 49.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 8.6 7.3 1.5 9.8 2.8 4.6
(i)Cash 8.6 7.3 1.5 9.8 2.8 4.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 55.6 79.1 150.3 135.3 188.8 212.2
C.Fixed Assets:
4.Total assets (B4+C2) 317.0 356.2 643.0 656.9 657.0 653.0
D.Operation:
1.Gross sales 469.6 506.9 786.5 1043.7 772.7 908.8
(i)Local sales 469.6 506.9 786.5 1043.7 772.7 908.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 414.9 451.0 737.2 1013.3 720.0 840.2
3.Gross profit 54.7 55.9 49.3 30.4 52.7 68.6
7.Net profit before tax (D5-D6) 3.7 9.8 5.3 -12.8 -5.9 11.7
8.Tax provision 2.1 3.9 3.4 4.6 4.6 3.9
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 1.2 2.8 0.8 -1.9 -0.9 1.8
4.Earning per share before tax (D7/No. of ordinary shares) 0.2 0.5 0.3 -0.6 -0.3 0.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.1 0.3 0.1 -0.8 -0.5 0.4
382
Quality Steel Works Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 41.2 41.2 41.2 41.2 41.2 41.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.2 0.2 0.2 0.2 0.2 0.2
(i)Cash 0.2 0.2 0.2 0.2 0.2 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 564.0 564.0 564.0 564.0 564.0 564.0
D.Operation:
1.Gross sales 0.8 0.8 0.8 0.8 0.8 0.8
(i)Local sales 0.8 0.8 0.8 0.8 0.8 0.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.8 0.8 0.8 0.8 0.8 0.8
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
383
Sazgar Engineering Works Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -31.0 -11.5 15.4 48.2 88.9 209.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.5 3.1 0.6 0.8 18.4 12.0
(i)Cash 0.5 3.1 0.6 0.8 18.4 12.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 20.5 41.3 59.8 79.3 125.2 193.3
C.Fixed Assets:
4.Total assets (B4+C2) 99.3 136.4 195.4 252.6 367.6 679.1
D.Operation:
1.Gross sales 146.9 252.1 332.4 439.3 724.2 1943.7
(i)Local sales 146.9 252.1 332.4 439.3 724.2 1943.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 119.3 208.7 286.7 361.1 602.1 1640.8
3.Gross profit 27.6 43.4 45.7 78.2 122.1 302.9
8.Tax provision 0.0 7.4 7.2 14.9 23.2 67.6
F.Cash Flow Data
384
Siemens (Pakistan) Engineering Co.Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1710.1 2034.5 2356.8 2620.1 5262.2 6199.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 821.7 1701.5 1743.8 2267.3 3311.9 3407.2
(i)Cash 813.5 1348.7 1743.8 1767.3 3311.9 3407.2
(ii)Investments 8.2 352.8 0.0 500.0 0.0 0.0
3.Inventories 1585.5 0.0 2337.5 2285.2 3166.7 4588.7
C.Fixed Assets:
4.Total assets (B4+C2) 4245.4 4947.2 7834.2 12021.9 17574.2 24769.3
D.Operation:
1.Gross sales 5899.7 7573.0 13374.5 20998.2 22238.9 27236.5
(i)Local sales 5256.3 7573.0 12856.8 20866.6 22133.5 26792.2
(ii)Export sales 643.4 0.0 517.7 131.6 105.4 444.3
2.Cost of Sales 4897.7 6320.9 11609.9 18546.4 19113.8 23222.6
3.Gross profit 1002.0 1252.1 1764.6 2451.8 3125.1 4013.9
8.Tax provision 269.9 321.7 444.0 926.0 913.9 885.1
F.Cash Flow Data
385
Singer Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 93.4 100.5 111.9 121.5 139.6 158.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 45.9 54.8 68.4 79.5 106.3 129.1
(i)Cash 45.9 47.5 61.3 72.5 99.4 129.1
(ii)Investments 0.0 7.3 7.1 7.0 6.9 0.0
3.Inventories 153.0 162.0 229.4 305.5 393.3 502.0
C.Fixed Assets:
4.Total assets (B4+C2) 755.7 840.2 1041.3 1235.8 1558.0 1852.3
D.Operation:
1.Gross sales 835.8 979.5 1197.2 1569.0 1744.2 2349.8
(i)Local sales 835.5 979.5 1197.2 1569.0 1744.2 2349.8
(ii)Export sales 0.3 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 685.4 798.8 982.3 1288.9 1385.8 1901.4
3.Gross profit 150.4 180.7 214.9 280.1 358.4 448.4
8.Tax provision 12.0 14.5 15.8 11.2 17.6 11.4
F.Cash Flow Data
386
The Climax Engineering Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -143.8 153.3 142.9 213.0 418.8 391.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.7 2.1 11.9 23.9 1.4 6.8
(i)Cash 3.7 2.1 11.9 23.9 1.4 6.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 218.4 217.8 243.0 246.9 251.9 250.9
C.Fixed Assets:
4.Total assets (B4+C2) 320.1 565.6 581.7 595.5 738.2 735.6
D.Operation:
1.Gross sales 164.3 188.0 262.7 224.1 232.8 226.2
(i)Local sales 164.3 188.0 262.7 224.1 232.8 226.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 143.6 179.3 246.0 210.1 219.7 217.6
3.Gross profit 20.7 8.7 16.7 14.0 13.1 8.6
8.Tax provision 0.8 0.9 1.2 1.1 1.2 1.1
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -28.0 370.0 -41.3 27.4 205.8 -26.1
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -25.7 384.2 -28.4 39.0 222.6 -10.8
15.Return on Equity (D7 as % of A3) - 1.3 0.7 3.6 3.2 -8.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -0.9 14.4 39.7 -14.7 3.9 -2.8
387
Transmission Engineering Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -83.0 -80.3 -76.2 -81.6 -112.0 -120.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -4.2 8.3 17.0 19.2 -9.1 -15.2
B.Liquidity:
1.Liquid Assets: 0.6 0.9 13.9 16.0 0.7 0.2
(i)Cash 0.6 0.9 0.3 0.2 0.7 0.2
(ii)Investments 0.0 0.0 13.6 15.8 0.0 0.0
3.Inventories 5.2 10.4 5.8 6.6 6.8 8.8
C.Fixed Assets:
4.Total assets (B4+C2) 66.3 92.4 104.6 104.0 97.3 103.7
D.Operation:
1.Gross sales 58.1 85.5 98.1 115.6 106.6 97.5
(i)Local sales 49.3 73.8 98.1 115.6 106.6 97.5
(ii)Export sales 8.8 11.7 0.0 0.0 0.0 0.0
2.Cost of Sales 51.5 70.2 82.9 103.4 105.6 98.4
3.Gross profit 6.6 15.3 15.2 12.2 1.0 -0.9
8.Tax provision 0.3 0.4 0.4 0.5 0.6 0.6
F.Cash Flow Data
388
Ados Pakistan Ltd.
House No.88, Khayaban-e-Iqbal, F-8/2, Islamabad.
Mr. Zia Akbar Ansari(Chairman / C.E.O.) Citi Bank N. A. M/s. Anjum Asim Shahid Rehman & Co.
Mr. Jamal Akbar Ansari(Director) Dubai Islamic Bank (Pakistan) Ltd.
Shaikh Usman Ahmed(Director) NIB Bank Ltd.
Mrs. Uzma Jamal(Director) Bank Al-Falah Ltd.
Mrs. Shoobarana Zia(Director)
Mrs. Razia Akbar Ansari(Director)
Mrs. Sabina Ansari(Director)

Engineering goods
Agriauto Industries Ltd.

5th Floor, House of Habib, 3 JCHS, Main Sharah-e-Faisal, Karachi.
Mr. R. D. Minwalla(Chairman) Habib Bank Ltd. M/S Ford Rhodes Sidat Hyder & Co.
Mr. Qazi Ebadullah Khan(Chief Executive) National Bank Of Pakistan
Mr. Suhail P. Ahmed(Director) Faysal Bank Limited
Mr. Fahim Kapadia(Director) Askari Commercial Bank Ltd.
Mr. Tariq SAud Quddusi(Director) Meezan Bank Ltd.
Mr. Owais-ul-Mustafa(Director) Credit Agricole Indosuez
Mr. Syed Sikander Ahmed(Director)

Light tractors
389
Al-Ghazi Tractors Ltd.
11th Floor, NICL Building, Abbasi Shaheed Road, Off Shahrah-e-Faisal, Karachi-74400.
Mr. Colin D.W. Leitch(Chairman) Askari Commerial Bank Ltd. M/S A. F. Ferguson & Co.
Mr. Parvez Ali(M.D. / C.E.O.) Meezan Bank Ltd.
Mr. Franco Fusignani(Director) Bank Al Habib Ltd.
Mr. Kanwar Idris(Director) Habib Bank Ltd.
Mr. Mohammad Ali Qaiyum(Director) Bank Al-Habib Ltd.
Mr. Hadjas Youssef(Director) Faysal Bank Ltd.
Mr. Nisar Mahmood(Director) Hongkong & Shanghai Banking Corp.

Tractors Numbers 30,000 27,550
Atlas Battery Ltd.

D/181, Central Avenue, S.I.T.E., Karachi-75730.
Mr. Yusuf H. Shirazi(Chairman) Atlas Bank Ltd. M/s. Hameed Chaudhri & Co.
Mr. Talha Saad(Chief Executive) Habib Bank Ltd.
Mr. Javaid Anwar(Director) MCB Bank Ltd.
Mr. Aitzaz Shahbaz(Director) National Bank Of Pakistan
Mr. Hiroshi Tateiwa(Director) The Bank Of Tokyo-Mitsubishi Ltd.
Mr. Muhammad Atta Karim(Director) Bank Alflah Limited
Mr. Muhammad Iqbal(Director) Allied Bank Ltd.

Battery product
390
Atlas Engineering Ltd. (Allwin Engineering Industries Ltd.)
ALLWIN ENGINEERING INDUSTRIES LTD. 15th Mile, National Highway, Landhi, Karachi-75120.
Mr. Yusuf H. Shirazi(Chairman) Habib Bank Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Mohammad Atta Karim(Chief Executive) MCB Bank Ltd.
Mr. H. Masood Sohail(Director) National Bank Of Pakistan
Mr. Iftikhar H. Shirazi(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Ali H. Shirazi(Director) Atlas Bank Ltd.
Mr. Jawaid Iqbal Ahmad(Director) Bank Alflah Limited
Mr. Sohail Wajahat H. Siddiqui(Director)

Automobile parts
Atlas Honda Ltd.

1-Mcleod Road, Lahore-54000.
Mr. Yusuf H. Shirazi(Chairman) Bank Al-Habib Ltd. M/S Hameed Chaudhri & Co.
Mr. Saqib H. Shirazi(Chief Executive) Atlas Bank Ltd.
Mr. Nurul Hoda(Director) Deutsche Bank A.G.
Mr. Sanaullah Qureshi(Director) United Bank Ltd.
Mr. Sherali Mundrawala(Director) Habib Bank Ltd.
Mr. Osamu Ishikawa(Director) MCB Bank Ltd.
Mr. Masahiro Takedagawa(Director) National Bank Of Pakistan

Multi types of products
391
Automotive Battery Co. Ltd.
A-44, Hill Street, Off. Manghopir Road, S.I.T.E., Karachi.
Mr. Arif Hashwani(Chairman) Bank Of Tokyo Mitsubishi Ltd. KPMG Taseer Hadi & Co.
Mr. Arshad Shahzada(Chief Executive) Habib Bank Ltd.
Mr. Altaf Hashwani(Director) MCB Bank Ltd.
Mr. Hussain Hashwani(Director) Meezan Bank Ltd.
Syed Raza Abbas Jafery (NIT)(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. S.I. Ahmed(Director) Bank Of Punjab
Mr. Akira Wada (FB-Japan)(Director) NIB Bank Ltd.
Date of Annual General Meeting 17th June , 2008 Face Value Rs. 10.00
Year Ending : 31st March , 2008 Market Price as on 31/03/2008 Rs. 27.25

Battery products
Baluchistan Wheels Ltd.

Main RCD Highway, Hub Chowki, Distt. Lasbella, Baluchistan
Mr. Muhammad Siddique Misri(Chairman) Faysal Bank Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Razak Haji Muhammad Bengali(Chief Execu Habib Bank Ltd.
Syed Haroon Rashid (NIT)(Director) National Bank Of Pakistan
Mr. Irfan Ahmed Qureshi(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Muhammad Javed(Director)
Mr. Muhammad Irfan Ghani(Director)
Syed Zubair Ahmed (NIT)(Director)

Automative wheels Thousand units 850 1,035
392
Bela Automotives Ltd.
PLot No. 1 & 3, Mouza Pathara, Hub Chowki. Balochistan.
Mr. Abdul Mateen Allawala(Chairman / C.E.O.) Bank Alflah Limited M/s. Kabani Saeed Kamran Patel & Co.
Mr. Anwar Iqbal(Director) Atlas Bank Ltd.
Mr. Imran Mateen(Director) Habib Bank Ltd.
Mr. Omer Mateen Allawala(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mrs. Farnaz Anwar(Director) Allied Bank of Pakistan Ltd.
Mrs. Moniza Imran(Director) National Bank of Pakistan
Mrs. Nelofer Mateen(Director) My Bank Ltd.

Automobile parts
Bolan Castings Ltd.

Main RCD Highway, Tehsil: Hub Chowki, District: Lasbella, Balochistan.
Mr. Sikandar M. Khan(Chairman) Habib Bank Ltd. M/S A. F. Ferguson & Co.
Mr. Shahid A. Hakim(Chief Executive) RBS Bank Ltd.
Mr. Latif Khalid Hashmi(Director) Bank Alfalah Ltd.
Mr. Sohail Bashir Rana(Director) MCB Bank Ltd.
Mr. Laeeq Uddin Ansari(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mian Mohammad Saleem(Director)
Mr. Bashir Ahmed Chaudhry(Director)

Casting of steel and iron M. Tons 10,367 13,801
393
Crescent Steel & Allied Products Ltd.
6th Floor, Crescent Standered Tower, 10-B, Block E-2, Main Boulevard, Gulberg-III, Lahore.
Mr. Mazhar Karim(Chairman) Standard Chartered Bank ( Pakistan) Ltd. M/s. Ford, Rhodes, Sidat, Hyder & Co.
Mr. Ahsan M. Saleem(Chief Executive) Meezan Bank Ltd.
Mr. Javed Iqbal(Director) Allied Bank Ltd.
Mr. Javed A Callea(Director) MCB Bank Ltd.
Mr. Mohammad Anwar(Director) HSBC Bank Middle East Ltd.
Mr. Nasir Shafi(Director)
Mr. S. M. Ehtisamullah(Director)
Date of Annual General Meeting 30th August , 2008 Face Value Rs. 10.00

Steel pipe M.Tons 30,000 41,102
Coating outside surface of steel pipe Square meters 600,000 521686
Cotton spindles M.Tons 16,000 17,718
Dadex Eternit Ltd.

Dadex House, 34-A/1, Block 6, PECHS, Shahrah-e-Faisal, Karachi-75400.
Mr. Danish Dada(Director) Citibank N.A. M/S Ford Rhodes Sidat Hyder & Co.
Mr. Abu Talib H.K. dada(Chairman) Habib Bank Ltd.
Mr. Sikandar Dada(Chief Executive) Habib Metropolitan Bank Limted
Mr. Samad Dada(Director) JS Bank Ltd.
Mr. Maqbool H.H. Rahimtoola(Director)
Mr. Qazi Sajid Ali(Director)
Mr. Shahzad M. Husain(Director)

Different cc & uPVC pressure pipes,
polydex and polythylene pipes etc.
394
Dewan Automotive Engineering Ltd. (Allied Motors Ltd.)
Dewan Mohammad Yousuf Farooqui(Chairman / The Royal Bank of Scotland Ltd. M/s. Faruq Ali & Co.
Dewan Abdullah Ahmed(Managing Director) NIB Bank Ltd.
Mr. Shahid Hussain Shera(Director) My Bank Ltd.
Dewan Asim Mushtaq Farooqui(Director) The Bank Of Punjab
Mr. Muhammad Azimuddin(Director) KASB Bank Ltd.
Dewan Abdul Baqi Farooqui(Director) MCB Bank Ltd.
Mrs. Hina Yousuf Farooqui(Director) Habib Bank Ltd.

Tractors Numbers 6,000 59
Motorcycles Numbers 60,000 9,239
Dewan Farooque Motors Ltd.

Dewan Centre, 3-A, Lalazar, Beach Hotel Road, Karachi
Dewan Mohammad Yousuf Farooqui(Chairman / RBS Bank Ltd. M/S Feroz Sharif Tariq & Co.
Dewan Asim Mushtaq Farooqui(Director) Allied Bank Of Pakistan Ltd.
Dewan Abdullah Ahmed Swaleh Farooqui(Mana Askari Bank Ltd.
Dewan Abdul Rehman Farooqui(Director) Bank Alfalah Ltd.
Dewan Abdul Baqi Farooqui(Director) Bankislami Pakistan Ltd.
Mr. Muhammad Azimuddin(Director) Habib Bank Ltd.
Mr. Muhammad Naeemuddin Malik(Director) Meezan Bank Ltd.

Automobiles Numbers 10,000 8,854
395
Exide Pakistan Ltd.
A-44, Hill Street, Manghopir Road, S.I.T.E, Karachi-75700
Mr. Arif Hashwani(Chairman) Standard Chartered Bank ( Pakistan) Ltd. M/s. A. F. Ferguson & Co.
Mr. S. I . Ahmed(M.D. / C.E.O.) Askari Bank Ltd.
Mr. S. Haider Mehdi(Director) United Bank Ltd.
Mr. Hussain Hashwani(Director) Habib Bank Ltd.
Mr. Mohammad Asif(Director) Oman International Bank S.A.O.G.
Mr. S.M. Faiq(Director) MCB Bank Ltd.
Mr. Altaf Hashwani(Director) Citi Bank N. A.

Chemicals for battery M. Tons 33,000 32,557
Gauhar Engineering Ltd.

54, Street 3, E-7, Islamabad.
Mr. Humayun Gauhar(Chairman / C.E.O.) MCB Bank Ltd. M/S Salman & Co.
Ms. Saniyya Gauhar(Director) National Bank of Pakistan.
Mr. Altaf Gauhar(Director)
Mr. M. Iqbal Kasbati(Director)
Mr. Suleman Iqbal(Director)
Mrs. B.A.Gauhar(Director)
Mrs. Manizeh Gauhar(Director)


Engineering products
of SECP
396
General Tyre & Rubber Co. Ltd.
H-23/2, Landhi Industrial Trading Estate, Landhi, Karachi.
Dr. Willi Flamm(Chairman) Allied Bank Of Pakistan Ltd. M/s. Hameed Chaudhri & Co.
Lt. Gen. (R) Ali Kuli Khan Khattak(Chief Executiv United Bank Ltd. M/s. A. F. Ferguson & Co.
Mr. Irfan Siddiqui(Director) Askari Commercial Bank Ltd.
Mr. Manzoor Ahmed(Director) MCB Bank Ltd.
Mr. Muhammad Nawaz Tishna(Director) Meezan Bank Ltd.
Mr.Ahmed Kuli Khan Khattak(Director) Bank Al-Habib Ltd.
Mr. Istiqbal Mehdi(Director) Faysal Bank Limited

Automible tyre sets Number of units 1,700,000 1,601,044
Ghandhara Industries Ltd.

Plot No. F-3, Ghandhara Industries Ltd., Hub Chowki Road, S.I.T.E., Karachi.
Mr. Raza Kuli Khan Khattak(Chairman) Allied Bank Of Pakistan Ltd. Faysal Bank Ltd.
Mr. Ahmad Kuli Khan Khattak(Chief Executive) Habib Bank Ltd. M/S Hameed Chaudhri & Co.
Lt. Gen.(Retd.) Ali Kuli Khan Khattak(Director) NIB Bank Ltd.
Mr. Jamil Ahmed Shah(Director) MCB Bank Ltd.
Dr. Parvez Hassan(Director) National Bank Of Pakistan
Mr. Sher Muhammad(Director) United Bank Ltd.
Mr. Mushtaq Ahmed Khan(Director)

Heavy automative vehicles
397
Ghandhara Nissan Ltd.
Ghandhara House 109/2, Clifton, Karachi.
Mr. Raza Kuli Khan Khattak(Chairman) Allied Bank Of Pakistan Ltd. M/s. Hameed Chaudhri & Co.
Lt. Gen. (Retd.) Ali Kuli Khan Khattak(President) Deutsche Bank M/s. Muniff Ziauddin & Co.
Mr. Ahmed Kuli Khan Khattak(Chief Executive) Askari Commercial Bank Ltd.
Ch. Sher Mohammad(Director) MCB Bank Ltd.
Mr. Jamil A. Shah(Director) The Bank Of Tokyo-Mitsubishi Ltd.
Mr. Ikramul Majeed Sehgal(Director) The Hong Kong & Shanghai Banking Corporation
Syed Haroon Rashid(Director) Bank Alflah Limited

Automobile assembling Units 6,000 1,567
Ghani Automobiles Industries Ltd.

50-L, Model Town, Lahore.
Mr. Imtiaz Ahmad Khan(Chairman) Allied Bank Ltd. Dawood Islamic Bank Ltd.
Mr. Anwaar Ahmed Khan(Dy. Chief Executive) Habib Bank Ltd. M/s. Hassan Farooq & Co.
Mrs. Reema Anwaar(Director) Albaraka Islamic Bank
Mr. Aftab Ahmed Khan(Director) Soneri Bank Ltd.
Mrs. Ayesha Aftab(Director) Meezan Bank Ltd.
Mr. Juniad Ghani(Director) Habib Metropolitan Bank Ltd.
Mr. Obaid Ghani(Director) Bank Al-Falah Ltd.

Motorcycles 25,000 8,315
398
Hinopak Motors Ltd.
Plot No. D-2, Manghopir Road (P.O.Box No.10714), S.I.T.E., Karachi
Mr. Kunwar Idris(Chairman) Allied Bank Of Pakistan Ltd. M/S A. F. Ferguson & Co.
Mr. Hideya Iijima(M.D. / C.E.O.) National Bank Of Pakistan
Mr. Takeshi Ito(Deputy M.D.) Habib Metorpolitan Bank Ltd.
Mr. Fasihul Karim Siddiqi(Director) The Bank Of Tokyo-Mitsubishi Ltd.
Mr. Shinji Fujimoto(Director) Kasb Bank Ltd.
Mr. Susumo Hongo(Director) Bank Alflah Limited
Mr. Mohammad Irfan Shaikh(Director) Standard Chartered Bank ( Pakistan) Ltd.

Chassis of automobiles Numbers 6,000 4,152
Bodies of automobiles Numbers 1,800 1,747
Honda Atlas Cars (Pakistan) Ltd.

1-Mcleod Road, Lahore
Mr. Yusuf H. Shirazi(Chairman) RBS Bank Ltd. M/S A. F. Ferguson & Co.
Mr. Atsushi Yamazaki(President / C.E.O.) Askari Bank Ltd.
Mr. Aamir H. Shirazi(Director) Citibank N.A.
Mr. Fumihiko Ike(Director) Deutsche Bank A.G.
Mr. Jawaid Iqbal Ahmed(Director) Habib Bank Ltd.
Mr. Masaaki Suzuki(Director) MCB Bank Ltd.
Mr. Yukimitsu Miyagi(Director) National Bank Of Pakistan

Motor Vehicles Number 50,000 15,080
399
Huffaz Seamless Pipe Industries Ltd.
207-210, 2nd Floor, Mashriq Centre, Block-14,Gulshan-e-Iqbal, Karachi-75300
Mr. Arshad Ahmed(Chairman) Saudi Pak Commercial Bank Ltd. M/s. S.M. Suhail & Co.
Hafiz Abdul Majid(Managing Director) MCB Bank Ltd.
Hafiz Abdul Haseeb(Director) NIB Bank Ltd.
Hafiz Abdul Sami(Director) Soneri Bank Ltd.
Hafiz Abdul Waheed(Director) Citi Bank Ltd.
Hafiz Abdul Aleem(Director) Meezan Bank Ltd.
Mrs. Fareeda Majid(Director)

Seamless tubular products & shafting. M. Tons 62,000 13,100
Machinery & machinery components M. Tons 3,500 480
Indus Motor Company Ltd.

Plot No. NWZ/1/P-1, Port Qasim Industrial Estate, Bin Qasim, Karachi.
Mr. Ali S. Habib(Chairman) Bank Al-Habib Ltd. M/s. A. F. Ferguson & Co.
Mr. Parvez Ghias(Chief Executive) The Royal Bank of Scotland Ltd.
Mr. Yutaka Arae(Vice Chairman) Askari Commercial Bank Ltd.
Mr. Farhad Zulficar(Director) Bank Of Tokyo - Mitsubishi Ltd.
Mr. Ilyas Suri(Director) Soneri Bank Ltd.
Mr. Mohammadali R.Habib(Director) HSBC Bank Middle East Ltd.
Mr. Akira Okabe(Director) MCB Bank Ltd.

Production of cars Number 53,040 48,222
400
International Industries Ltd.
101, Beaumont Plaza, 10,Beaumont Road, Karachi-75530.
Mr. J. R. Rahim(Chairman) Standard Chartered Bank ( Pakistan) Ltd. KPMG Taseer Hadi & Co.
Mr. Towfiq H. Chinoy(M.D. / C.E.O.) NIB Bank Ltd.
Mr. Faud Azim Hashmi(Director) MCB Bank Ltd.
Mr. K M. M. Shah(Director) Soneri Bank Ltd.
Mr. Kamal A. Chinoy(Director) Bank Al-Habib Limited
Mr. Kemal Shoaib (NIT)(Director) The Hongkong & Shanghai Banking Corp. Ltd.
Syed Salim Raza(Director) Habib Bank Limited

Polyethylen pipe M. Tons 7,000 1,646
Pipe M. Tons 300,000 172,181
Galvanizing M. Tons 150,000 98,027
Johnson & Philips (Pakistan) Ltd.

C-10 South Avenue, S.I.T.E. Karachi-75700
Mr. Shehryar Saeed(Chairman / C.E.O.) Soneri Bank Ltd. M/s. Riaz Ahmad, Saqib, Gohar & Co.
Ms. Marium Shafi(Director) Habib Bank Ltd.
Ms. Zainab Qureshi(Director) Saudi Pak Commercial Bank Ltd.
Mr.Sardar Adnan Ahmed Khan(Director) My Bank Ltd.
Mr. Naushad Ali Qassim Ali(Director)
Mr. Farooq A. Khan(Director)
Mr. Munazza T.H. Shaikh(Director)

Engineering products
401
KSB Pumps Company Ltd.
16/2 Sir Agha Khan Road, Lahore-54000.
Dr. Agus Lee(Chairman) Royal Bank of Scotland M/S A. F. Ferguson & Co.
Mr. Muhammad Masud Akhtar(M.D. / C.E.O.) NIB Bank Ltd.
Mr. Jan Stoop(Director) MCB Bank Ltd.
Mr. Zahid hussain(Director) Allied Bank Ltd.
Mr. Hasan Aziz Bilgrami (NIT)(Director) Deutsche Bank A.G.
Mr. Sajid Mahmood Awan(Director)
Mr. R. D. Ahmad(Director)
Date of Annual General Meeting 23rd April , 2009 Face Value Rs. 10.00

Power driven pumps No.s' 6,000 5,832
Metropolitan Steel Corporation Ltd.

Plot No. HE-1, Landhi Industrial Area, Karachi
Mr.Mehmood Ali Mehkri(Chairman) Habib Bank Ltd. M/S Anjum Asim Shahid Rahman & Co.
Engr. Syed Asghar Jamil Rizvi(Chief Execuative National Bank Of Pakistan
Muhammad Shakir(Director) Prime Commercial Bank Ltd.
Mr.Khwaja Maudood Ahmed(Director) United Bank Ltd.
Mr. Muhammad Jamal Dedhi(Director)
Mr. Jawed A. Ghaffar(Director)
Mr. Abdul Razzaq Noor(Director)
Date of Annual General Meeting 03rd January , 2008 Face Value Rs. 10.00

Wire rod and bar mill M. Tons 75,000 16,357
Mild steel wires M. Tons 27,000 9,239
Special steel wires M. Tons 9,000 1,238
402
Millat Tractors Ltd.
Millat Tractors Ltd.,Sheikhupura Road, Dist.Sheikhupura.
Mr. Sikandar Mustafa Khan(Chairman) RBS Bank Ltd. M/S A. F. Fergusan & Co.
Mr. Sohail Bashir Rana(Chief Executive) Bank Alfalah Ltd.
Mr. Muhammad Nawaz Tishna(Director) Habib Bank Ltd.
Rana Mohammad Siddique(Director) MCB Bank Ltd
Mian Mohammad Saleem(Director) Meezan Bank Ltd.
Mr. Latif Khalid Hashmi(Director) United Bank Ltd.
Mr. Mazhar Uddin Ansari(Director) Standard Chartered Bank ( Pakistan) Ltd.

Tractors Units 30,000 27,506
Pak Elektron Ltd.

17- Aziz Avenue, Canal Bank, Gullberg-V, Lahore.
Mr. M. Naseem Saigol(Chairman / C.E.O.) PICIC Commercial Bank Ltd. M/S M. Yousaf Adil Saleem & Co.
Mr. M. Azam Saigol(Director) Saudi Pak Commercial Bank Ltd. M/s. Yousuf Adil Saleem & Co.
Mr. Shahid Sethi(Director) Faysal Bank Ltd.
Mr. Haroon Ahmad Khan(Managing Director) National Bank Of Pakistan
Mr. Muhammad Murad Saigol(Director) Union Bank Ltd.
Mr. Homaeer Waheed(Director) Bank of Punjab
Mr. Gul Nawaz (NIT)(Director) Bank Alfalah Ltd.
Date of Annual General Meeting 23rd October , 2008 Face Value Rs. 10.00

Television Numbers 70,000 570
Transformers MVA 3,000 2,243
Switchgears Numbers 4,500 3,347
403
Pak Suzuki Motor Company Ltd.
DSU-13, Pakistan Steel Industrial Estate, Bin Qasim, Karachi.
Mr. Hirofumi Nagao(Chairman / C.E.O.) RBS Bank Ltd. M/S Ford Rhodes Sidat Hyder & Co.
Mr. Masaki Sakai(Deputy M.D.) Habib Bank Ltd.
Mr. Abdul Majeed Shaikh(Director) Bank Alfalah Ltd.
Mr. Kenichi Ayukawa(Director) Bank Al-Habib Ltd.
Mr. Muhammad Razi Uddin Monem(Director) Citibank N.A.
Mr. Akira Utsumi(Director) MCB Bank Ltd.
Mr. Jamil Ahmed(Director) Faysal Bank Ltd.

All models of cars Units 150,000 120,899
Motorcycles Units 37,000 30,250
Pakistan Cables Ltd.

Plot No.B/21, Sindh Industrial Trading Estate, Manghopir Road , Karachi-75700.
Mr. Towfiq H. Chinoy(Chairman) Oman International Bank. KPMG Taseer Hadi & Co.
Mr. Kamal A. Chinoy(Chief Executive) MCB Bank Ltd.
Mr. Mustapha A. Chinoy(Director) NIB Bank Ltd.
Mr. Saquib H. Shirazi(Director) Habib Bank Ltd.
Mr. Haroun Rashid(Director) Standard Chartered Bank ( Pakistan) Ltd.
Syed Naeem Ahmed(Director) HSBC Bank Middle East Ltd.
Mr. Shahpur Channah(Director) Bank Al Habib Ltd.

Electric and telecom cables
404
Pakistan Engineering Company Ltd.
6-Ganga Ram Trust Building, Shahrah-e-Quaid-e-Azam, Lahore
Maj. Gen. (R) Zaheer Ahmad Khan(Chairman) National Bank Of Pakistan M/s.. Fazal Mahmood & Co.
Mr. M. Imtiaz-ur-Rehman(Chief Executive) Arif Habib Bank Ltd.
Mr. Muhammad Niaz Butt(Director) United Bank Ltd.
Mr. Muhammad Arif Habib(Director)
Mr. Rashid Ali Khan(Director)
Mr. Liaquat Mohammad(Director)
Mr. Mohammah Shabir Malik(Director)

Pumps / Turbines No. 3,400 68
Bicycles No. 100,000 Nil
Electric Motors No. 16,500 Nil
Pakistan Telephone Cables Ltd.

18th Mile RCD Highway, 27/3/2 Mouza Bairut, Teshil Hub, District: Lasbella , Balochistan.
Mr. Raza Abdul Aziz Al-Raee(Chairman / C.E.O. Askari Commerial Bank Ltd. Rahim Iqbal Rafiq Co.
Mr. Aijaz Abdul Aziz Al-Raee(Director) KASB Bank Ltd. M/S Khalid Majid Rehman Sarfaraz
Mr. Riyadh Abdul Aziz Al-Rahee(Director) Picic Commercial Bank Ltd.
Mrs. Rabia Barkat Ali(Director)
Mr. Abdullah Razal Aziz Al-Raee(Director)
Mrs. Sumiah Saeed-ur-Rehman(Director)
Mrs. Asma Hafeez Al-Raee(Director)

Telephone cables Kilometers 2,500,000 1,020,403
405
Quality Steel Works Ltd.
D/22, S.I.T.E., Manghopir Road,Karachi.
Mr. Raza Abdul Aziz Al-Raee(Chairman / C.E.O. Allied Bank Of Pakistan Ltd. M/S Rao & Company
Syed Naeem Ahmed(Director) National Bank Of Pakistan
Mr. Saeed Ullah Khan Paracha(Director) National Development Finance Corp.
Mr. Rizwan H. Said(Director) Picic Commercial Bank Ltd.
Mr. Gul Nawaz (NIT)(Director) Union Bank Ltd.
Jam Mitha Khan(Director) United Bank Ltd.
Mr. Muhammad Sharif(Director)


Steel products
Note: Failed to hold AGM
Sazgar Engineering Works Ltd.

171-Ali Town, Thokar Niaz Baig, Raiwind Road, Lahore.
Mrs. Saira Hameed(Chairperson) Allied Bank Of Pakistan Ltd. M/s. Kabani Saeed Kamran Patel & Co.
Mian Asad Hameed(Chief Executive) Faysal Bank Ltd.
Mr. Saeed Iqbal Khan(Director) Habib Bank Ltd.
Mr. Ishtiaq Ahmed Roomi(Director) National Bank Of Pakistan
Mrs. Khadija Nilofer Ishtiaq(Director) Bank Alflah Limited
Mr. Mian Zafar Hameed(Director) The Bank Of Punjab
Mian Mohammad Ali Hameed(Director) Atlas Bank Ltd.

Wheel-rim Numbers Indeterminable 82,161
Auto-rickshaw Numbers Indeterminable 9,696
Panel back window Numbers Indeterminable 2,101
406
Siemens (Pakistan) Engineering Co.Ltd.
B-72, Estate Avenue, Sindh Industrial Trading Estates, Karachi-75700
Syed .Babar Ali(Chairman) Habib Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Sohail Wajahat H. Siddiqui(Chief Executive) Meezan Bank Ltd.
Mr. Zahid Hussain(Director) MCB Bank Ltd.
Mr. Klaus Stegemann(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Tajammal Hussain Bokharee(Director) Citibank N.A.
Mr. Gerhard Wilcke(Director) The Hongkong & Shanghai Banking Corp. Ltd.
Mr. Stephan Schneider(Director) The Royal Bank of Scotland Ltd.
Year Ending : 30th September, 2008 Market Price as on 30/09/2008 Rs. 1,210.00
Percentage Dividend rate : Highest Price in 2008 Rs. 2,054.00
Ordinary Shares (%) 900 Lowest Price in 2008 Rs. 1,405.80
Ordinary Shares Bonus (%) Average Price in 2008 Rs. 1,639.63

Electric motore HP 300,000 89,565
Motors controlgears and controlboards HP 150,000 2,670
Electric transformers MVA 2,000 2,641
Singer Pakistan Ltd.

Plot No. 39, Sector-19, Korangi Industrial Area, korangi, Karachi.
Mr. Kamal Shah(Chairman / C.E.O.) JS Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Gavin Walker(Director) Soneri Bank Ltd.
Mr. Rasheed Y. Chinoy(Director) The Bank Of Punjab
Mr. Ahmed S. Farrukh(Director) Pakistan Kuwait Investment Co. (Pvt) Ltd.
Mr. U. R. Usmani(Director) United Bank Limited
Mr. Jahangir Siddiqui(Director) The Royal Bank of Scottland Ltd.
Mr. Peter Janes O'Donnell(Director) Citibank N.A.

Sewing machine Numbers 50,000 35,601
Gas appliances Numbers 25,000 17,775
Refregrators/ deep freezers Numbers 25,000 33,717
407
The Climax Engineering Company Ltd.
Climaxabad, G. T. Road, Distt: Gujranwala.
Ch. M. A. Hameed(Chairman) Habib Bank Ltd. M/s. Qadeer & Co.
Ch. M. A. Qayyum(Chief Executive) National Bank Of Pakistan
Ch. Zia-ul-Hameed(Director) NIB Bank Ltd.
Ch. Abdul Salam(Director)
Ch. Imtiaz A. Hameed(Director)
Ch. Mahmood Ghani Faizi(Director)
Ch. Usman Ghani Faizi(Director)

Transformers Numbers 15,000 488
Electric fans Numbers 100,000 24,616
Electric Motors Numbers 20,000 216
Transmission Engineering Industries Ltd.

Plot No. B-14, Block A, Sindhi Muslim Cooperative Housing Society, Karachi.
Mr. Ausaf Hussain Agha(Chairman / C.E.O.) Habib Metropolitan Bank Limted M/S. Yousuf Adil Saleem & Co.
Mr. Muhammad Aslam Khan(Deputy M.D.) Bank Al-Habib Limited
Mr. Tausif Hussain Agha(Director) Industrial Development Bank Of Pakistan
Mr. Asif Hussain Agha(Director)
Mr.Fasih Hussain Agha(Director)
Mr. Uzair Ashir(Director)
Ms. Sabahat Agha(Director)

Tractor Gear Numbers 230,000 165,246
Motor cycle Gear Numbers 324,000 27,580
Motor car (Small) Numbers 3,000 34
408
SUGAR & ALLIED SECTOR
Sugar Sector (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1782.8 3974.8 7137.4 9513.1 9057.0 10554.5
5.Debentures 716.2 501.5 128.8 12.5 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2696.5 5164.7 7960.9 8639.9 8409.3 7216.2
(i)Cash 824.8 1359.8 2146.6 2394.0 2572.7 2162.2
(ii)Investments 1871.7 3804.9 5814.3 6245.9 5836.6 5054.0
3.Inventories 5793.2 5608.7 7562.1 9326.6 11426.7 13911.8
C.Fixed Assets:
4.Total assets (B4+C2) 34308.9 41981.2 54817.7 64560.5 70646.2 82803.5
D.Operation:
1.Gross sales 36542.7 37058.8 47405.3 65845.3 60386.0 81194.0
(i)Local sales 35221.3 34105.6 42841.9 61707.6 55880.2 68680.3
(ii)Export sales 1321.4 2953.2 4563.4 4137.7 4505.8 12513.7
2.Cost of Sales 34266.9 34223.6 41879.3 59453.8 56780.9 72420.8
3.Gross profit 2275.8 2835.2 5526.0 6391.5 3605.1 8773.2
7.Net profit before tax (D5-D6) -265.3 674.2 2528.8 1503.8 -581.7 717.4
8.Tax provision 283.6 260.2 568.2 410.8 343.4 431.3
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -0.8 1.6 4.6 2.3 -0.8 0.9
6.Self financing ratio (E2 as % of E1) -69.1 4.2 31.8 21.1 -113.9 -8.0
1.Dividend cover ratio [(D7 - D8) as % of D9] -235.2 220.7 550.4 418.5 -413.7 54.8
4.Earning per share before tax (D7/No. of ordinary shares) -0.5 1.3 4.3 2.4 -0.8 1.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -1.1 0.8 3.3 1.8 -1.3 0.4
411
Sugar & Allied Industries

450
400
350
300
250
%
200
150
100
50
0
2003 2004 2005 2006 2007 2008
30 6
25 5
20 4
15
Rupees
3
%
10
2
5
1
0
0
-5
2003 2004 2005 2006 2007 2008 -1
2003 2004 2005 2006 2007 2008
412
Adam Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 33.5 63.5 82.4 589.4 348.3 386.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 126.2 90.6 28.1 18.7 21.3 46.1
(i)Cash 126.2 90.6 28.1 18.7 21.3 46.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 21.2 29.5 242.4 289.6 267.3 173.8
C.Fixed Assets:
4.Total assets (B4+C2) 489.2 618.9 633.3 1160.7 1140.2 1318.3
D.Operation:
1.Gross sales 822.3 637.7 615.3 901.8 604.7 1042.3
(i)Local sales 822.3 637.7 615.3 901.8 604.7 1017.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 24.4
2.Cost of Sales 778.7 558.8 543.2 868.8 728.6 904.1
3.Gross profit 43.6 78.9 72.1 33.0 -123.9 138.2
8.Tax provision 3.5 2.9 1.7 0.0 2.6 0.0
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -23.0 -22.4 -3.5 46.6 -32.9 72.4
413
Al-Abbas Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 315.8 461.7 562.7 478.7 551.3 696.2
5.Debentures 294.7 221.1 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 15.7 15.7 6.7 10.9 63.2 94.8
(i)Cash 15.7 15.7 6.7 10.9 32.4 48.4
(ii)Investments 0.0 0.0 0.0 0.0 30.8 46.4
3.Inventories 400.1 534.3 555.9 612.5 301.0 1036.2
C.Fixed Assets:
4.Total assets (B4+C2) 1522.4 1804.3 1681.3 1678.4 1463.2 3768.6
D.Operation:
1.Gross sales 1327.4 1423.4 1845.7 2514.3 2842.3 2931.1
(i)Local sales 832.3 785.2 1117.0 1702.7 1387.8 1476.6
(ii)Export sales 495.1 638.2 728.7 811.6 1454.5 1454.5
2.Cost of Sales 1134.0 1090.0 1651.7 2316.2 2590.8 2719.1
3.Gross profit 193.4 333.4 194.0 198.1 251.5 212.0
8.Tax provision 6.1 6.7 8.7 11.7 13.4 45.2
F.Cash Flow Data
414
Al-Asif Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -855.4 -813.5 -816.3 -842.4 -866.5 -725.7
5.Debentures 24.0 18.7 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.1 1.5 0.1 3.0 0.8 11.2
(i)Cash 0.1 1.5 0.1 3.0 0.8 11.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.9 1.7 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 506.8 438.8 550.5 509.7 459.1 486.4
D.Operation:
1.Gross sales 467.4 323.9 75.4 106.8 123.6 198.9
(i)Local sales 467.4 323.9 75.4 106.8 123.6 198.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 455.9 360.7 105.2 132.7 141.8 156.7
3.Gross profit 11.5 -36.8 -29.8 -25.9 -18.2 42.2
5.Operating profit -9.3 55.0 -10.1 -33.1 -26.0 152.5
7.Net profit before tax (D5-D6) -39.6 54.7 -10.2 -33.2 -26.1 138.6
8.Tax provision 2.0 1.4 0.3 0.5 0.5 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -17.6 76.1 10.9 -12.8 -6.7 159.1
2.Depreciation for the year plus changes in capital employed (C3+E1) -232.8 721.1 -631.7 -114.9 -4.2 161.3
5.Return on assets (D7 as % of C4) -7.8 12.5 -1.9 -6.5 -5.7 28.5
10.Financial expenses as % of operating profit (D6 as % of D5) - 0.5 - -0.3 -0.4 9.1
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 2.6 - -1.5 -1.9 0.0
3.Net profit margin (D7 as % of D1) -8.5 16.9 -13.5 -31.1 -21.1 69.7
4.Earning per share before tax (D7/No. of ordinary shares) -2.7 3.7 -0.7 -2.3 -1.8 9.4
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -2.8 3.6 -0.7 -2.3 -1.8 9.4
415
Al-Noor Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 556.8 639.3 638.5 737.3 681.9 1286.4
5.Debentures 76.3 125.4 80.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 53.4 121.5 96.8 57.3 57.9 124.1
(i)Cash 35.0 81.6 65.1 48.7 47.6 86.3
(ii)Investments 18.4 39.9 31.7 8.6 10.3 37.8
3.Inventories 306.3 165.4 207.5 230.8 393.7 1009.1
C.Fixed Assets:
4.Total assets (B4+C2) 2180.1 2105.5 2193.8 2073.7 2338.1 3775.8
D.Operation:
1.Gross sales 1480.8 1741.0 1927.9 3058.1 2722.4 3145.2
(i)Local sales 1429.0 1650.7 1720.2 2764.1 2471.0 2521.1
(ii)Export sales 51.8 90.3 207.7 294.0 251.4 624.1
2.Cost of Sales 1403.1 1537.4 1630.2 2642.8 2395.2 2582.3
3.Gross profit 77.7 203.6 297.7 415.3 327.2 562.9
8.Tax provision 6.8 8.3 9.1 14.2 12.8 11.3
2.Retention in business (D7-D8-D9) -111.4 7.7 90.9 167.9 -3.1 177.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -28.2 4.3 - 907.6 -1.6 37.3
416
Ansari Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -222.4 -318.3 -273.7 -167.8 -247.0 -247.0
3.Shareholder's Equity (A1+A2) 21.7 -74.2 -29.6 76.3 -2.9 -2.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 26.8 127.2 90.6 123.6 16.4 16.4
(i)Cash 26.8 127.2 90.6 123.6 16.4 16.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 142.3 91.9 43.1 130.8 104.6 104.6
C.Fixed Assets:
4.Total assets (B4+C2) 1109.5 1142.6 1019.8 1147.3 1061.1 1061.1
D.Operation:
1.Gross sales 1145.9 1045.2 957.9 1574.7 1580.3 1580.3
(i)Local sales 1145.9 1045.2 957.9 1574.7 1580.3 1580.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1107.6 1049.5 939.2 1372.5 1584.8 1584.8
3.Gross profit 38.3 -4.3 18.7 202.2 -4.5 -4.5
5.Operating profit 0.4 -38.7 -22.1 148.5 -59.5 -59.5
8.Tax provision 4.9 4.5 4.2 6.8 6.9 6.9
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 359.3 -114.8 -73.5 67.1 -121.4 0.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 407.0 -70.4 -29.4 111.5 -78.7 42.7
7.Cash flow ratio F1 as % of F2 -4.5 - - 154.8 46.5 -85.7
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 8.9 -30.4 -12.1 31.3 -1.2 -1.2
10.Financial expenses as % of operating profit (D6 as % of D5) 15425.0 - - 9.1 -21.7 -21.7
10.Break-up value of ordinary shares (in rupees) 0.9 -3.0 -1.2 3.1 -0.1 -0.1
417
Baba Farid Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -73.7 -114.6 -103.7 -10.2 -164.0 378.1
3.Shareholder's Equity (A1+A2) 20.8 -20.1 -9.2 84.3 -69.5 472.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 61.6 10.0 265.6 79.0 71.4 29.4
(i)Cash 10.6 10.0 50.6 79.0 71.4 29.4
(ii)Investments 51.0 0.0 215.0 0.0 0.0 0.0
3.Inventories 37.8 184.7 248.1 238.4 406.5 6.5
C.Fixed Assets:
4.Total assets (B4+C2) 382.7 656.3 832.6 805.9 953.1 1288.3
D.Operation:
1.Gross sales 744.0 456.1 703.2 947.8 588.7 1308.4
(i)Local sales 744.0 456.1 703.2 947.8 588.7 1308.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 676.1 432.6 585.2 846.7 586.0 1251.5
3.Gross profit 67.9 23.5 118.0 101.1 2.7 56.9
5.Operating profit 42.0 -10.5 89.6 62.1 -42.5 37.4
8.Tax provision 3.3 2.0 3.4 4.4 3.2 0.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -18.6 - 48.0 -73.9 101.8 -4.3
7.Cash flow ratio F1 as % of F2 28.6 -425.7 66.8 -30.3 102.0 -2.1
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 22.0 -21.3 -9.7 89.2 -73.5 500.1
10.Financial expenses as % of operating profit (D6 as % of D5) 102.9 - 85.7 133.5 -227.5 170.1
15.Return on Equity (D7 as % of A3) -5.8 - - -24.7 0.0 -5.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -43.4 -38.7 54.2 34.8 -37.9 122.3
10.Break-up value of ordinary shares (in rupees) 2.2 -2.1 -1.0 8.9 -7.4 50.0
418
Bawany Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -713.6 -713.8 -788.7 -821.6 -864.3 -833.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.7 2.7 1.5 4.9 2.2 4.8
(i)Cash 1.3 2.3 1.5 4.9 2.2 4.8
(ii)Investments 0.4 0.4 0.0 0.0 0.0 0.0
3.Inventories 1.1 2.1 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 482.0 453.4 449.7 377.9 331.3 340.3
D.Operation:
1.Gross sales 679.4 661.5 154.3 179.4 177.3 291.2
(i)Local sales 679.4 661.5 154.3 179.4 177.3 291.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 638.7 670.9 165.8 223.8 211.2 258.6
3.Gross profit 40.7 -9.4 -11.5 -44.4 -33.9 32.6
8.Tax provision 2.9 2.8 0.7 0.8 0.9 0.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - -13.6 -12.1 15.1 -17.2 -22.7
7.Cash flow ratio F1 as % of F2 - -0.5 -3.8 4.5 -7.5 -47.6
419
Chashma Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 244.9 266.0 343.8 293.7 -63.3 830.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 16.5 18.6 38.9 102.5 42.6 46.3
(i)Cash 16.5 18.6 38.9 102.5 42.6 46.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 489.6 128.7 97.1 263.3 1131.2 1438.1
C.Fixed Assets:
4.Total assets (B4+C2) 1014.4 996.8 1441.6 2420.8 3460.4 4508.5
D.Operation:
1.Gross sales 682.0 1622.5 1414.0 1360.8 1896.5 2858.9
(i)Local sales 682.0 1128.6 1245.2 1322.9 1896.5 2093.3
(ii)Export sales 0.0 493.9 168.8 37.9 0.0 765.6
2.Cost of Sales 682.4 1538.7 1187.2 1305.5 1967.6 2512.9
3.Gross profit -0.4 83.8 226.8 55.3 -71.1 346.0
5.Operating profit -26.5 50.5 182.3 28.1 -125.3 281.5
8.Tax provision 3.0 11.0 7.5 6.0 8.2 8.4
F.Cash Flow Data
10.Financial expenses as % of operating profit (D6 as % of D5) - 34.3 24.2 307.5 -201.3 120.4
15.Return on Equity (D7 as % of A3) -9.8 7.3 25.8 -12.0 -294.9 -5.1
420
Crescent Sugar Mills And Distillery Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 225.0 280.1 347.2 171.4 403.9 144.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 223.1 328.4 338.3 276.0 547.5 329.7
(i)Cash 3.9 11.8 12.2 19.2 13.3 11.6
(ii)Investments 219.2 316.6 326.1 256.8 534.2 318.1
3.Inventories 251.4 368.4 206.5 203.2 231.2 310.0
C.Fixed Assets:
4.Total assets (B4+C2) 1027.7 1316.2 1170.7 1169.9 1451.9 1300.8
D.Operation:
1.Gross sales 1202.1 2011.7 2318.5 2236.5 2395.5 2544.9
(i)Local sales 913.8 1601.8 1881.0 1817.7 2028.4 2102.4
(ii)Export sales 288.3 409.9 437.5 418.8 367.1 442.5
2.Cost of Sales 1149.0 1984.0 2124.5 2092.5 2302.1 2414.2
3.Gross profit 53.1 27.7 194.0 144.0 93.4 130.7
7.Net profit before tax (D5-D6) -21.4 -49.8 101.7 -26.7 16.4 -56.3
8.Tax provision 6.8 9.5 7.8 10.8 11.7 4.3
2.Retention in business (D7-D8-D9) -28.2 -59.3 93.9 -37.5 4.7 -60.6
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -2.1 -3.8 8.7 -2.3 1.1 -4.3
7.Cash flow ratio F1 as % of F2 0.5 -12.0 171.0 -12.7 18.4 5.7
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - 7.7 -40.4 71.3 -7.6
15.Return on Equity (D7 as % of A3) -5.2 -10.6 18.9 -6.9 2.7 -15.7
3.Net profit margin (D7 as % of D1) -1.8 -2.5 4.4 -1.2 0.7 -2.2
4.Earning per share before tax (D7/No. of ordinary shares) -1.1 -2.6 5.4 -1.2 0.8 -2.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -1.5 -3.1 4.9 -1.8 0.2 -2.8
421
Dewan Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 105.8 882.7 975.6 1574.1 1279.3 598.1
5.Debentures 113.5 37.5 25.0 12.5 0.0 0.0
B.Liquidity:
1.Liquid Assets: 315.6 301.2 351.9 28.9 216.0 94.0
(i)Cash 15.9 14.5 18.8 28.9 15.3 35.3
(ii)Investments 299.7 286.7 333.1 0.0 200.7 58.7
3.Inventories 390.8 898.7 1797.2 577.5 862.1 828.0
C.Fixed Assets:
4.Total assets (B4+C2) 2318.0 4284.5 6605.9 7026.6 7069.0 6897.5
D.Operation:
1.Gross sales 1811.5 857.7 3307.4 7262.9 4854.5 6200.5
(i)Local sales 1808.6 815.9 3072.9 6911.2 4076.2 4876.2
(ii)Export sales 2.9 41.8 234.5 351.7 778.3 1324.3
2.Cost of Sales 1801.2 716.7 3099.3 6778.0 4702.3 6158.1
3.Gross profit 10.3 141.0 208.1 484.9 152.2 42.4
8.Tax provision 42.5 20.9 26.4 42.9 26.5 33.3
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -10.7 12.4 39.8 54.1 15.2 141.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 62.6 -52.7 285.6 119.6 -33.2 27.7
422
Faran Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -67.7 -13.2 9.4 91.8 59.9 145.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 10.1 56.2 72.9 125.3 139.1 232.7
(i)Cash 6.6 4.2 15.7 40.6 41.2 51.0
(ii)Investments 3.5 52.0 57.2 84.7 97.9 181.7
3.Inventories 24.3 116.5 117.6 276.0 149.5 482.7
C.Fixed Assets:
4.Total assets (B4+C2) 709.9 802.6 856.6 1032.9 1037.0 1510.9
D.Operation:
1.Gross sales 1621.5 1123.0 1323.5 2795.0 2093.3 1691.1
(i)Local sales 1598.1 1056.2 1323.5 2795.0 2093.3 1691.1
(ii)Export sales 23.4 66.8 0.0 0.0 0.0 0.0
2.Cost of Sales 1604.3 1052.8 1255.0 2521.8 2017.6 1546.5
3.Gross profit 17.2 70.2 68.5 273.2 75.7 144.6
8.Tax provision 7.0 5.3 5.7 12.2 9.6 16.0
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 146.5 -30.7 17.9 111.2 -25.1 -19.2
423
Fecto Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -45.9 -118.1 -79.4 54.8 -158.4 -194.1
3.Shareholder's Equity (A1+A2) 4.4 -67.8 -29.1 105.1 -12.5 -48.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 140.1 155.0 97.0 33.2 5.1 15.8
(i)Cash 21.4 49.7 4.6 8.4 5.1 15.8
(ii)Investments 118.7 105.3 92.4 24.8 0.0 0.0
3.Inventories 56.7 0.0 219.4 323.5 356.3 33.3
C.Fixed Assets:
4.Total assets (B4+C2) 1501.3 1672.7 1563.8 1906.6 1845.7 1505.7
D.Operation:
1.Gross sales 861.5 848.4 1168.4 1001.8 972.0 1854.4
(i)Local sales 861.5 848.4 1168.4 1001.8 972.0 1854.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 938.0 829.3 983.7 938.9 1030.8 1745.6
3.Gross profit -76.5 19.1 184.7 62.9 -58.8 108.8
8.Tax provision 3.9 3.8 5.5 4.7 4.5 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -148.5 -19.0 90.4 -38.5 -141.7 21.6
6.Self financing ratio (E2 as % of E1) -92.5 -30.9 - 1081.1 97.8 -137.1
7.Cash flow ratio F1 as % of F2 -57.0 -5.6 239.8 -77.3 96.7 19.5
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 8.7 -134.8 -57.9 208.9 -8.6 -33.0
15.Return on Equity (D7 as % of A3) -4375.0 - - -88.1 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -27.0 -1.5 37.7 -14.3 -3.0 90.8
10.Break-up value of ordinary shares (in rupees) 0.9 -13.5 -5.8 20.9 -0.9 -3.3
424
Habib - ADM Ltd.( Habib Arkady LTD.) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 124.6 135.3 159.2 172.5 247.1 312.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.1 3.1 4.3 16.5 14.1 11.5
(i)Cash 5.1 3.1 4.3 16.5 14.1 10.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 1.0
3.Inventories 73.2 105.5 79.4 86.2 70.3 179.3
C.Fixed Assets:
4.Total assets (B4+C2) 425.8 495.2 479.0 481.5 509.4 681.7
D.Operation:
1.Gross sales 347.4 466.2 494.9 559.2 743.7 1187.5
(i)Local sales 336.5 368.8 314.4 402.0 743.7 1187.5
(ii)Export sales 10.9 97.4 180.5 157.2 0.0 0.0
2.Cost of Sales 331.7 393.3 350.1 404.8 483.7 865.2
3.Gross profit 15.7 72.9 144.8 154.4 260.0 322.3
8.Tax provision 5.0 4.1 7.5 5.1 11.6 21.6
F.Cash Flow Data
425
Habib Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 679.6 905.1 722.5 1347.1 1691.7 1670.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 327.3 362.4 429.5 996.0 1439.9 1292.2
(i)Cash 176.1 142.2 18.0 381.3 638.5 736.5
(ii)Investments 151.2 220.2 411.5 614.7 801.4 555.7
3.Inventories 355.2 303.8 531.9 419.3 390.5 438.2
C.Fixed Assets:
4.Total assets (B4+C2) 1570.1 1809.6 2019.3 2395.7 2939.4 3354.4
D.Operation:
1.Gross sales 984.4 2252.3 3072.0 4019.3 2839.0 4490.4
(i)Local sales 972.6 2252.3 1959.9 4019.3 2839.0 2102.4
(ii)Export sales 11.8 0.0 1112.1 0.0 0.0 2388.0
2.Cost of Sales 931.3 1950.5 2777.6 3601.8 2468.8 3755.7
3.Gross profit 53.1 301.8 294.4 417.5 370.2 734.7
8.Tax provision 0.0 39.4 50.0 68.0 47.5 80.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -19.9 225.5 - 678.6 416.6 50.8
3.Finance from outside the company (E1-E2) -49.0 118.5 - 507.6 265.4 -282.8
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 31.0 286.0 - 743.8 478.6 117.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 533.3 189.5 - -5.5 -26.4 57.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -36.5 128.8 - 30.8 -29.4 58.2
426
Haseeb Waqas Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 272.7 312.3 371.5 212.3 101.5 164.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 11.1 72.6 13.1 77.3 25.0 5.0
(i)Cash 11.1 72.6 13.1 77.3 25.0 5.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 460.8 290.2 124.6 277.9 417.2 233.2
C.Fixed Assets:
4.Total assets (B4+C2) 1788.3 1529.8 1275.1 1535.2 1571.0 1497.1
D.Operation:
1.Gross sales 1581.3 1867.8 1568.0 1091.1 1015.4 1324.2
(i)Local sales 1581.3 1867.8 1477.1 1043.1 1015.4 1324.2
(ii)Export sales 0.0 0.0 90.9 48.0 0.0 0.0
2.Cost of Sales 1454.7 1745.1 1348.6 1092.9 1013.1 1288.7
3.Gross profit 126.6 122.7 219.4 -1.8 2.3 35.5
5.Operating profit 99.5 86.4 186.8 -26.8 -27.1 10.8
8.Tax provision 6.3 8.2 36.3 8.8 4.4 0.0
F.Cash Flow Data
10.Financial expenses as % of operating profit (D6 as % of D5) 114.9 73.7 27.5 -303.0 -400.7 1009.3
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 36.1 26.8 -8.1 -3.2 0.0
15.Return on Equity (D7 as % of A3) -2.5 3.6 19.5 -20.1 -31.9 -20.1
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -14.5 18.1 -16.1 -30.4 -6.9 30.4
427
Husein Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 166.9 219.2 312.5 283.5 245.3 279.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 12.5 74.6 50.4 20.4 18.4 45.5
(i)Cash 6.9 67.8 39.5 7.5 6.1 33.8
(ii)Investments 5.6 6.8 10.9 12.9 12.3 11.7
3.Inventories 259.6 98.7 140.9 314.6 249.4 41.4
C.Fixed Assets:
4.Total assets (B4+C2) 573.0 487.8 644.1 816.6 743.4 593.1
D.Operation:
1.Gross sales 705.9 1235.4 1324.4 1153.2 1534.5 1897.5
(i)Local sales 705.9 1226.2 1324.4 1153.2 1534.5 1897.5
(ii)Export sales 0.0 9.2 0.0 0.0 0.0 0.0
2.Cost of Sales 599.3 1097.4 1079.1 1043.2 1519.4 1724.5
3.Gross profit 106.6 138.0 245.3 110.0 15.1 173.0
8.Tax provision 21.5 25.1 50.3 5.1 6.7 0.0
F.Cash Flow Data
428
JDW Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 188.8 378.7 751.1 915.4 893.3 1180.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.1 84.9 153.0 991.7 1605.8 1870.5
(i)Cash 7.1 84.9 153.0 5.4 22.0 2.4
(ii)Investments 0.0 0.0 0.0 986.3 1583.8 1868.1
3.Inventories 0.0 33.7 0.0 0.0 358.2 598.6
7.Net Current Assets(B4-B5) -71.6 352.6 -131.4 413.9 431.1 877.8
C.Fixed Assets:
4.Total assets (B4+C2) 1247.6 2502.1 3634.9 5178.9 7243.4 7942.2
D.Operation:
1.Gross sales 1926.0 2057.5 3194.3 6489.8 6144.7 12393.9
(i)Local sales 1926.0 2057.5 3194.3 6489.8 6144.7 12393.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1628.6 1639.3 2549.2 5336.8 5328.3 10411.0
3.Gross profit 297.4 418.2 645.1 1153.0 816.4 1982.9
8.Tax provision 8.3 9.5 14.0 28.3 0.0 33.5
F.Cash Flow Data
429
Khairpur Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -390.4 -31.3 -84.6 -117.1 -178.6 -37.6
3.Shareholder's Equity (A1+A2) -230.2 128.9 75.6 43.1 -18.4 122.6
5.Debentures 0.0 32.2 23.9 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.5 1.4 13.9 5.4 14.8 8.0
(i)Cash 1.5 1.4 13.9 5.4 14.8 8.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 10.6 8.1 7.0 59.9 5.6 252.6
C.Fixed Assets:
4.Total assets (B4+C2) 595.0 987.6 981.6 1004.9 931.9 1481.2
D.Operation:
1.Gross sales 764.0 610.5 639.5 850.7 994.3 716.3
(i)Local sales 764.0 610.5 639.5 850.7 994.3 716.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 705.5 663.3 654.1 820.4 990.7 713.6
3.Gross profit 58.5 -52.8 -14.6 30.3 3.6 2.7
8.Tax provision 1.7 2.7 2.8 3.7 4.3 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 152.7 -19.9 -1.9 29.5 -12.2 1.8
6.Self financing ratio (E2 as % of E1) 37.0 -31.2 - 19.7 -27.4 17.0
7.Cash flow ratio F1 as % of F2 41.8 -5.7 - -48.3 -4.5 -0.7
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -143.7 80.5 47.2 26.9 -11.5 76.5
15.Return on Equity (D7 as % of A3) - -66.0 -68.3 -42.9 0.0 -40.7
3.Net profit margin (D7 as % of D1) 16.5 -13.9 -8.1 -2.2 -5.8 -7.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -0.9 -20.1 4.8 33.0 16.9 -28.0
10.Break-up value of ordinary shares (in rupees) -14.4 8.0 4.7 2.7 -1.1 7.7
430
Kohinoor Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 378.9 407.5 449.4 677.3 512.7 468.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.6 1.2 2.9 9.6 1.2 8.8
(i)Cash 2.6 1.2 2.9 9.6 1.2 8.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 96.5 95.6 66.4 219.0 176.0 358.4
C.Fixed Assets:
4.Total assets (B4+C2) 880.4 903.2 919.3 1696.5 1859.5 2142.2
D.Operation:
1.Gross sales 908.6 947.4 974.1 1037.9 748.6 1089.2
(i)Local sales 908.6 947.4 974.1 1037.9 748.6 1089.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 874.5 847.9 838.9 900.3 787.8 1054.2
3.Gross profit 34.1 99.5 135.2 137.6 -39.2 35.0
8.Tax provision 5.4 0.0 13.6 4.6 3.8 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -18.1 - 65.6 10.5 -636.6 -57.9
431
Mehran Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 190.6 127.4 67.5 131.4 20.0 77.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 46.4 54.8 56.9 110.2 100.1 153.2
(i)Cash 3.9 3.1 0.2 26.5 2.2 1.7
(ii)Investments 42.5 51.7 56.7 83.7 97.9 151.5
3.Inventories 152.6 321.5 203.8 139.7 118.4 437.1
C.Fixed Assets:
4.Total assets (B4+C2) 684.9 950.6 824.5 805.5 763.7 1191.6
D.Operation:
1.Gross sales 895.1 773.3 1109.3 2259.6 1485.9 1439.3
(i)Local sales 872.2 773.3 1109.3 1900.8 1376.9 1202.0
(ii)Export sales 22.9 0.0 0.0 358.8 109.0 237.3
2.Cost of Sales 850.8 739.8 1048.3 2071.1 1493.3 1320.7
3.Gross profit 44.3 33.5 61.0 188.5 -7.4 118.6
7.Net profit before tax (D5-D6) -2.2 30.4 4.7 98.9 -110.5 60.6
8.Tax provision 4.1 3.6 5.6 9.8 6.5 2.4
2.Retention in business (D7-D8-D9) -6.3 26.8 -0.9 89.1 -117.0 58.2
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -0.3 3.2 0.6 12.3 -14.5 5.1
4.Earning per share before tax (D7/No. of ordinary shares) -0.2 3.1 0.5 10.1 -11.2 6.2
432
Mirpurkhas Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -0.9 98.2 227.9 339.9 295.1 200.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 151.6 283.1 314.8 294.0 316.6 228.8
(i)Cash 10.2 3.3 5.9 12.0 10.1 13.3
(ii)Investments 141.4 279.8 308.9 282.0 306.5 215.5
3.Inventories 101.1 262.3 198.8 336.4 183.8 426.6
7.Net Current Assets(B4-B5) -0.7 73.6 201.1 196.5 -7.2 25.2
C.Fixed Assets:
4.Total assets (B4+C2) 641.3 989.5 940.4 1067.9 1004.3 1252.4
D.Operation:
1.Gross sales 634.0 569.8 890.1 1591.4 1294.5 1128.8
(i)Local sales 634.0 564.1 890.1 1591.4 1294.5 927.1
(ii)Export sales 0.0 5.7 0.0 0.0 0.0 201.7
2.Cost of Sales 616.8 567.0 761.3 1329.9 1242.9 980.4
3.Gross profit 17.2 2.8 128.8 261.5 51.6 148.4
7.Net profit before tax (D5-D6) -59.7 -31.0 101.9 211.6 -50.6 62.8
8.Tax provision 3.7 2.9 4.8 7.8 6.1 2.5
2.Retention in business (D7-D8-D9) -63.4 -33.9 97.1 189.4 -56.7 53.9
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -46.5 -18.0 112.8 206.2 -36.0 75.9
5.Return on assets (D7 as % of C4) -9.3 -3.1 10.8 19.8 -5.0 5.0
7.Cash flow ratio F1 as % of F2 -16.0 -15.9 79.7 781.1 33.6 103.4
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - 4.7 3.7 -12.1 4.0
15.Return on Equity (D7 as % of A3) -94.8 -19.1 34.9 52.4 -14.1 23.8
3.Net profit margin (D7 as % of D1) -9.4 -5.4 11.4 13.3 -3.9 5.6
4.Earning per share before tax (D7/No. of ordinary shares) -9.3 -4.9 15.9 33.1 -7.9 9.8
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -9.9 -5.3 15.2 31.9 -8.9 9.4
433
Mirza Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -663.4 -790.3 -749.8 -922.5 -971.0 -937.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.0 2.5 2.9 1.3 1.7 1.3
(i)Cash 1.0 2.5 2.9 1.3 1.7 1.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 12.2 48.3 122.8 1.6 7.2 44.9
C.Fixed Assets:
4.Total assets (B4+C2) 412.6 407.2 456.0 307.7 291.9 308.8
D.Operation:
1.Gross sales 493.6 389.5 227.4 641.3 558.9 732.3
(i)Local sales 493.6 389.5 227.4 641.3 558.9 732.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 499.5 435.0 277.4 605.1 562.8 706.2
3.Gross profit -5.9 -45.5 -50.0 36.2 -3.9 26.1
8.Tax provision 2.2 1.7 1.0 2.8 2.5 0.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -36.8 -174.1 -77.5 -212.1 -60.2 -42.8
7.Cash flow ratio F1 as % of F2 - - - -3.2 33.7 -131.5
434
Noon Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 585.0 607.7 921.5 878.7 842.3 757.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 65.1 157.0 365.5 106.3 96.1 121.6
(i)Cash 47.3 137.0 237.7 18.2 14.9 16.3
(ii)Investments 17.8 20.0 127.8 88.1 81.2 105.3
3.Inventories 175.6 99.6 87.0 374.6 471.1 318.1
9.Net liquid assets (B1-B5) -56.8 -20.1 95.7 -347.1 -727.6 -637.8
C.Fixed Assets:
4.Total assets (B4+C2) 777.9 853.8 1318.4 1877.0 2163.6 1934.4
D.Operation:
1.Gross sales 1096.6 1223.4 1210.2 1001.1 1219.6 2011.7
(i)Local sales 954.4 914.4 946.5 788.5 963.6 1472.8
(ii)Export sales 142.2 309.0 263.7 212.6 256.0 538.9
2.Cost of Sales 910.4 1003.8 976.7 928.0 1149.3 1780.4
3.Gross profit 186.2 219.6 233.5 73.1 70.3 231.3
8.Tax provision 31.0 21.0 39.0 4.5 5.5 5.4
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 5.0 11.6 -1.1 -17.3 21.8 64.9
435
Pangrio Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -564.2 -648.6 -802.9 -762.4 -795.1 -800.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.9 3.1 2.1 0.9 0.7 2.0
(i)Cash 0.9 3.1 2.1 0.9 0.7 2.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 47.1 58.8 174.2 0.0 13.4 53.3
C.Fixed Assets:
4.Total assets (B4+C2) 306.8 307.4 402.0 215.0 217.7 252.0
D.Operation:
1.Gross sales 434.5 481.4 230.1 773.8 557.0 731.4
(i)Local sales 434.5 481.4 230.1 773.8 557.0 731.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 443.1 523.6 320.1 738.9 576.0 726.1
3.Gross profit -8.6 -42.2 -90.0 34.9 -19.0 5.3
8.Tax provision 1.9 2.1 1.0 3.5 2.5 0.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -86.7 -112.1 44.7 -30.9 -81.3 -11.2
6.Self financing ratio (E2 as % of E1) - - -340.1 -18.7 33.3 19.3
7.Cash flow ratio F1 as % of F2 - - -133.3 -91.3 19.4 -98.2
436
Sakrand Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -342.5 -342.5 -427.2 -408.4 -530.5 -530.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 37.7 37.7 12.1 45.3 27.5 27.5
(i)Cash 37.7 37.7 12.1 45.3 27.5 27.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 30.6 30.6 29.8 75.4 60.7 60.7
C.Fixed Assets:
4.Total assets (B4+C2) 910.8 910.8 817.6 876.4 816.8 816.8
D.Operation:
1.Gross sales 869.0 869.0 594.9 981.5 1144.5 1144.5
(i)Local sales 869.0 869.0 594.9 981.5 1144.5 1144.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 852.1 852.1 567.5 866.2 1182.2 1182.2
3.Gross profit 16.9 16.9 27.4 115.3 -37.7 -37.7
8.Tax provision 3.7 3.7 2.6 4.3 5.0 5.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - -87.9 - 25.8 46.7 -243.5
437
Saleem Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -303.1 -303.6 -308.8 -307.7 -308.7 -303.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.7 0.0 0.2 0.2 0.0 0.0
(i)Cash 0.7 0.0 0.2 0.2 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 39.0 37.9 37.6 37.3 36.7 36.3
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
5.Operating profit 22.5 -0.4 -5.3 1.2 -1.1 4.9
7.Net profit before tax (D5-D6) 22.5 -0.4 -5.3 1.2 -1.1 4.9
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
2.Retention in business (D7-D8-D9) 22.5 -0.4 -5.3 1.2 -1.1 4.9
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 23.0 0.1 -4.9 1.6 -0.7 5.3
5.Return on assets (D7 as % of C4) 57.7 -1.1 -14.1 3.2 -3.0 13.5
4.Earning per share before tax (D7/No. of ordinary shares) 13.2 -0.2 -3.1 0.7 -0.6 2.9
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 13.2 -0.2 -3.1 0.7 -0.6 2.9
438
Sanghar Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 7.7 6.3 -21.5 22.1 -13.0 42.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.2 9.7 2.8 5.4 2.6 14.4
(i)Cash 2.2 9.7 2.8 5.4 2.6 14.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 2.0 24.8 12.4 6.7 6.7 30.7
C.Fixed Assets:
4.Total assets (B4+C2) 656.8 667.0 664.0 668.5 652.0 638.0
D.Operation:
1.Gross sales 681.5 787.6 650.0 1204.9 1236.7 2170.1
(i)Local sales 681.5 739.9 625.8 1177.2 1236.7 2103.2
(ii)Export sales 0.0 47.7 24.2 27.7 0.0 66.9
2.Cost of Sales 679.2 704.8 617.5 1026.2 1165.2 1936.4
3.Gross profit 2.3 82.8 32.5 178.7 71.5 233.7
5.Operating profit -34.9 41.5 -4.0 128.1 25.0 159.7
7.Net profit before tax (D5-D6) -76.8 18.8 -19.9 94.1 -12.5 134.4
8.Tax provision 3.0 3.6 3.1 5.7 5.8 20.0
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -11.7 2.8 -3.0 14.1 -1.9 21.1
7.Cash flow ratio F1 as % of F2 - 208.5 - 205.2 -48.9 214.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 19.1 - 6.1 -46.4 14.9
15.Return on Equity (D7 as % of A3) -60.4 14.9 -20.3 66.5 -11.7 82.8
3.Net profit margin (D7 as % of D1) -11.3 2.4 -3.1 7.8 -1.0 6.2
4.Earning per share before tax (D7/No. of ordinary shares) -6.4 1.6 -1.7 7.9 -1.0 11.2
439
Shahmurad Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 91.9 276.5 220.3 239.2 232.1 391.3
5.Debentures 0.0 66.6 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 36.7 6.6 31.2 288.9 120.6 10.3
(i)Cash 34.4 3.7 27.5 44.8 116.4 6.0
(ii)Investments 2.3 2.9 3.7 244.1 4.2 4.3
3.Inventories 234.8 413.5 522.9 343.2 670.7 922.7
C.Fixed Assets:
4.Total assets (B4+C2) 1311.2 2230.1 2684.9 2728.9 2861.3 3235.1
D.Operation:
1.Gross sales 1138.0 944.9 1170.8 2059.2 1687.2 2454.9
(i)Local sales 1138.0 917.2 784.9 1383.9 1206.0 718.3
(ii)Export sales 0.0 27.7 385.9 675.3 481.2 1736.6
2.Cost of Sales 1087.1 814.5 1039.9 1794.6 1399.1 1869.6
3.Gross profit 50.9 130.4 130.9 264.6 288.1 585.3
7.Net profit before tax (D5-D6) -77.1 -0.5 -51.3 13.6 -9.0 158.2
8.Tax provision 5.2 4.1 5.4 9.8 9.3 16.1
2.Retention in business (D7-D8-D9) -82.3 -4.6 -56.7 3.8 -18.3 121.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -26.8 13.5 -63.4 16.3 113.7 74.1
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - -10.5 72.1 -103.3 10.2
15.Return on Equity (D7 as % of A3) -25.4 -0.1 -11.9 3.0 -2.0 26.3
3.Net profit margin (D7 as % of D1) -6.8 -0.1 -4.4 0.7 -0.5 6.4
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -3.9 -0.2 -2.7 0.2 -0.9 6.7
440
Shahtaj Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 282.0 296.1 416.0 453.2 502.7 614.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 17.2 104.1 377.7 108.8 321.8 272.5
(i)Cash 7.2 94.1 367.7 82.4 298.8 221.7
(ii)Investments 10.0 10.0 10.0 26.4 23.0 50.8
3.Inventories 194.1 72.9 9.8 197.1 16.1 154.0
9.Net liquid assets (B1-B5) -250.5 -94.5 122.3 -81.2 170.5 77.6
C.Fixed Assets:
4.Total assets (B4+C2) 669.8 614.9 791.4 763.2 774.1 929.2
D.Operation:
1.Gross sales 1605.2 1840.9 1669.3 1886.6 2502.5 2302.1
(i)Local sales 1605.2 1840.9 1669.3 1886.6 2502.5 2302.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1339.0 1643.1 1262.4 1661.6 2245.5 1990.0
3.Gross profit 266.2 197.8 406.9 225.0 257.0 312.1
8.Tax provision 67.0 43.0 117.0 52.0 54.5 68.6
F.Cash Flow Data
441
Shakarganj Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 401.0 1620.0 2609.5 2780.4 3844.6 2966.8
5.Debentures 207.6 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 560.3 2369.7 3642.3 3480.7 2300.1 1671.7
(i)Cash 14.9 28.3 101.1 190.3 493.2 346.4
(ii)Investments 545.4 2341.4 3541.2 3290.4 1806.9 1325.3
3.Inventories 587.5 464.6 941.5 1823.8 1069.9 120.3
7.Net Current Assets(B4-B5) 0.6 775.9 600.9 -475.1 372.3 -913.7
C.Fixed Assets:
4.Total assets (B4+C2) 2606.0 6187.3 10130.9 11718.8 10909.1 12404.8
D.Operation:
1.Gross sales 2414.8 3983.8 5631.4 6014.0 7006.4 8807.7
(i)Local sales 2145.7 3469.8 5215.6 5299.2 6198.0 6753.8
(ii)Export sales 269.1 514.0 415.8 714.8 808.4 2053.9
2.Cost of Sales 2139.5 3603.3 5150.0 5747.4 6789.5 8103.6
3.Gross profit 275.3 380.5 481.4 266.6 216.9 704.1
7.Net profit before tax (D5-D6) 156.3 214.5 179.7 -286.5 909.0 -974.7
8.Tax provision 0.0 20.0 28.0 34.7 42.3 21.4
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 198.2 286.2 320.8 -8.0 1171.6 -613.0
5.Return on assets (D7 as % of C4) 6.0 3.5 1.8 -2.4 8.3 -7.9
15.Return on Equity (D7 as % of A3) 22.5 10.7 6.0 -8.5 20.5 -26.6
3.Net profit margin (D7 as % of D1) 6.5 5.4 3.2 -4.8 13.0 -11.1
4.Earning per share before tax (D7/No. of ordinary shares) 5.3 5.5 4.6 -4.9 15.7 -14.0
442
Sindh Abadgar's Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 2.6 16.1 -59.2 -18.8 -55.4 26.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.0 28.0 8.5 5.0 18.5 15.0
(i)Cash 5.0 28.0 8.5 5.0 18.5 15.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 183.7 51.7 2.3 2.3 139.6 177.1
C.Fixed Assets:
4.Total assets (B4+C2) 633.1 624.1 535.2 499.2 612.4 786.7
D.Operation:
1.Gross sales 600.3 788.7 595.4 1049.5 867.9 1020.3
(i)Local sales 600.3 788.7 595.4 1049.5 867.9 776.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 244.0
2.Cost of Sales 588.4 768.4 613.6 939.6 824.4 912.0
3.Gross profit 11.9 20.3 -18.2 109.9 43.5 108.3
5.Operating profit -0.2 37.5 -50.4 76.0 21.5 39.9
7.Net profit before tax (D5-D6) -45.1 16.8 -66.6 45.1 -12.2 8.3
8.Tax provision 3.1 4.0 2.8 4.7 3.7 2.4
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -20.6 38.9 -42.9 57.3 11.9 34.6
7.Cash flow ratio F1 as % of F2 - 43.4 -76.2 276.8 -12.5 16.9
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 23.8 - 10.4 -30.3 28.9
15.Return on Equity (D7 as % of A3) -42.2 14.0 -147.7 52.7 -24.9 6.4
3.Net profit margin (D7 as % of D1) -7.5 2.1 -11.2 4.3 -1.4 0.8
443
Tandlianwala Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 167.3 222.2 406.9 427.1 574.2 354.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.2 108.3 230.4 345.9 60.7 11.2
(i)Cash 2.2 108.3 230.4 345.9 60.7 11.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 241.1 302.1 489.4 1192.4 1921.1 2764.2
C.Fixed Assets:
4.Total assets (B4+C2) 1034.8 1532.1 3477.5 5394.8 7261.9 8811.0
D.Operation:
1.Gross sales 963.7 1214.1 2462.2 3460.5 2415.2 2694.6
(i)Local sales 963.7 1214.1 2462.2 3460.5 2415.2 2694.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 908.8 1118.5 2223.9 3068.3 1919.3 2176.4
3.Gross profit 54.9 95.6 238.3 392.2 495.9 518.2
8.Tax provision 4.2 5.3 10.8 15.3 10.6 0.0
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] - - - 0.0 0.0 -2364.4
444
The Frontier Sugar Mills & Distillery Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 200.6 204.9 232.6 206.8 174.3 162.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 63.0 152.5 169.0 157.3 130.2 70.4
(i)Cash 56.9 135.0 152.0 140.4 109.9 52.9
(ii)Investments 6.1 17.5 17.0 16.9 20.3 17.5
3.Inventories 68.6 1.2 0.4 4.9 2.1 2.1
C.Fixed Assets:
4.Total assets (B4+C2) 225.7 241.5 263.8 247.6 214.0 193.4
D.Operation:
1.Gross sales 188.8 430.1 201.9 19.7 23.2 0.6
(i)Local sales 188.8 410.7 187.1 19.7 23.2 0.6
(ii)Export sales 0.0 19.4 14.8 0.0 0.0 0.0
2.Cost of Sales 186.8 418.2 178.4 44.3 58.5 15.0
3.Gross profit 2.0 11.9 23.5 -24.6 -35.3 -14.4
8.Tax provision 0.9 2.1 1.1 0.1 0.1 0.0
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 25.1 127.8 -53.1 -90.2 17.8 -97.4
445
The Premier Sugar Mills & Distillery Co. Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 929.6 834.3 962.1 989.0 920.5 954.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 338.1 377.9 666.8 691.9 545.8 210.2
(i)Cash 99.9 104.1 395.9 466.9 320.8 106.0
(ii)Investments 238.2 273.8 270.9 225.0 225.0 104.2
3.Inventories 263.0 183.3 28.8 75.2 117.8 319.7
9.Net liquid assets (B1-B5) 281.0 243.2 522.2 486.9 434.6 -47.3
C.Fixed Assets:
4.Total assets (B4+C2) 1024.1 1007.4 1144.5 1231.4 1069.1 1249.2
D.Operation:
1.Gross sales 624.9 917.4 864.6 240.7 276.7 434.8
(i)Local sales 621.9 735.0 566.3 211.4 276.7 434.8
(ii)Export sales 3.0 182.4 298.3 29.3 0.0 0.0
2.Cost of Sales 650.8 909.8 717.3 262.7 394.3 466.5
3.Gross profit -25.9 7.6 147.3 -22.0 -117.6 -31.7
8.Tax provision 4.4 5.5 6.3 1.8 1.3 0.3
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -13.3 -94.5 127.3 26.6 -68.5 33.6
3.Finance from outside the company (E1-E2) 20.6 -72.9 -4.3 -19.8 37.7 39.4
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - - 103.4 174.4 155.0 -17.3
7.Cash flow ratio F1 as % of F2 -32.9 - 102.8 138.3 182.3 31.0
446
The Thal Industries Corporation Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -132.4 -132.4 121.1 105.3 104.2 197.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.0 3.0 21.5 16.4 53.3 117.8
(i)Cash 3.0 3.0 21.5 16.4 53.3 117.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 119.3 119.3 52.7 230.7 200.6 278.6
C.Fixed Assets:
4.Total assets (B4+C2) 918.1 918.1 1055.1 1177.5 1221.0 2115.6
D.Operation:
1.Gross sales 881.3 881.3 1592.6 1900.9 1971.0 2434.2
(i)Local sales 881.3 881.3 1592.6 1900.9 1971.0 2023.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 410.8
2.Cost of Sales 949.9 949.9 1307.0 1787.1 1850.4 2144.6
3.Gross profit -68.6 -68.6 285.6 113.8 120.6 289.6
8.Tax provision 3.8 3.8 6.9 8.4 8.6 4.1
F.Cash Flow Data
447
United Sugar Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -313.5 -344.6 -257.9 -280.3 -253.3 -123.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4.2 0.8 1.2 1.2 10.3 1.4
(i)Cash 3.9 0.5 0.8 0.7 9.9 1.0
(ii)Investments 0.3 0.3 0.4 0.5 0.4 0.4
3.Inventories 0.4 0.5 0.5 0.0 556.8 277.8
C.Fixed Assets:
4.Total assets (B4+C2) 353.1 341.6 322.0 523.8 1368.7 1194.1
D.Operation:
1.Gross sales 902.2 1027.1 1226.7 1619.3 1267.5 2940.2
(i)Local sales 902.2 1027.1 1226.7 1619.3 1267.5 2940.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 804.4 964.1 950.4 1342.4 1077.7 2463.4
3.Gross profit 97.8 63.0 276.3 276.9 189.8 476.8
8.Tax provision 4.5 4.8 77.4 7.0 0.0 22.1
3.Finance from outside the company (E1-E2) -81.9 -81.6 -208.2 6.0 0.4 -132.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -34.1 -60.6 -54.9 -0.7 65.3 161.4
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 7.3 -1.5 43.3 -9.5 8.9 87.2
448
Adam Sugar Mills Ltd.
Haji Adam Chambers, Altaf Hussain Road, New Challi, Karachi-2
Mr. Ghulam Ahmad Adam(Chairman / C.E.O.) Habib Bank Ltd. M/S Gangat & Co.
Syed Rafique Mohammad Shah(Director) MCB Bank Ltd.
Mirza Khurshid Baig (ICP)(Director) NIB Bank Ltd.
Mr. Jawaid Ahmed(Director)
Lt. Col. (Retd.) Muhammad Mujtaba(Director)
Mr. Junaid G. Adam(Director)
Mr. Omar G. Adam(Director)
Date of Annual General Meeting 25th January , 2009 Face Value Rs. 10.00
Year Ending : 30th September, 2008 Market Price as on 30/09/2008 Rs. 17.50

Cane crushing M.Tons 640,000 310,099
Sugar M.Tons 23,167 24,391
Al-Abbas Sugar Mills Ltd.

2nd Floor, Pardesi House, Survey No.2/1, R.Y. 16, Old Queens Road Karachi-74000.
Mr. Muhammad Iqbal Usman(Chairman) Albaraka Islamic Bank M/S Hyder Bhimji & Co.
Mr. Shunaid Qureshi(Chief Executive) Bank Alfalah Ltd.
Mr. Munawar A. Siddiqui(Director) Habib Bank Ltd.
Mr. Munaf Ibrahim(Director) MCB Bank Ltd.
Mr. Shahid Anwar(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Duraid Qurashi(Director) Saudi Pak Com. Bank Ltd.
Mr. Asim Ghani(Director) United Bank Ltd.
Date of Annual General Meeting 31st January , 2009 Face Value Rs. 10.00

Sugar M. Tons 67,980 46,755
Distillery M. Tons 32,270 29,124
449
Al-Asif Sugar Mills Ltd.
7th Floor, Block- 'A', Finance & Trade Centre, Off. Main Shahrah-e-Faisal, Karachi.
Mr. Muhammad Baqir Jaffri(Chief Executive) Standard Chartered Bank ( Pakistan) Ltd. M/s. Faruq Ali & Co.
Mr. Farrukh Iqbal(Director) Habib Bank Ltd.
Syed Maqbool Ali(Director) Industrial Development Bank Of Pakistan
Mr. Mohammad Ilyas A. Sattar(Director) National Bank Of Pakistan
Mr. Mohammad Aslam Khan(Director)
Mr. Jamal Nasim(Director)
Mr. Pervez Ahmed Khan(Director)

Sugarcane crushing M. Tons 411,000 331,523
Al-Noor Sugar Mills Ltd.

Plot No. 96-A, Sindhi Muslim Housing Society, Karachi
Mr. Ismail H. Zakaria(Chairman/M.D.) Habib Bank Ltd. M/s. M.Yousaf Adil Saleem & Co.
Mr. Suleman Ayoob(Director) MCB Bank Ltd.
Mr. Yusuf Ayoob(Director) Pak Kuwait Investment Company (Pvt.) Ltd.
Mr. A. Aziz Ayoob(Director) Pakistan Industrial Credit & Investment Corp. Ltd.
Mr. Muhammad Asif (NIT)(Director) Saudi Pak Industrial & Agriculture Investment Co
Mr. Shamim Ahmed (NIT)(Director)
Mr. Zia I. Zakaria(Director)

Sugar M. Tons 71,400 98,113
Board M. Tons 43,000 47,260
450
Ansari Sugar Mills Ltd.
41-K, Block-6, P.E.C.H.S., Karachi
Dr. Dinshaw Hoshang Ankelsaria(Chairman / C.E Allied Bank Of Pakistan Ltd. M/S Khalid Majid Rahman Sarfaraz Rahim Iqbal
Mr. Ahmed Khan Ansari(Director) Habib Bank Ltd.
Mr. Abdul Hafeez Ansari(Director) MCB Bank Ltd.
Mrs. Nasreen Ghani Ansari(Director) National Bank Of Pakistan
Mr. Imran Rasheed Ansari(Director)
Syed Anwar Raza Naqvi(Director)
Mr. S. M. Ahsan Raza (NIT)(Director)

Sugar M.Tons 86,400 55,963
Baba Farid Sugar Mills Ltd.

1st Floor, Panorama Centre, Raja Ghazanfar Ali Khan Road, Saddar, Karachi
Mr. Kaiser Mahmood Fecto(Chairman / C.E.O.) Bank Of Punjab M/s. Hyder Bhimji & Co.
Mr. Munawar Ali Fecto(Director) NIB Bank Ltd.
Mr. Imran Azim(Director) MCB Bank Ltd.
Mr. Fazalur Rehman(Director) My Bank Ltd.
Mr. Yahya Ahmed Bawany(Director)
Mr. Moin A. Haroon(Director)
Mr. James R. Richards(Director)

Sugar M.Tons 27,200 31579
451
Bawany Sugar Mills Ltd.
7th Floor, Block ' A', Finance & Trade Centre, Off. Shahra - e - Faisal, Karachi.
Mr. Pervez Ahmed Khan(Chairman / C.E.O.) Habib Bank Ltd. M/s. Faruq Ali & Co.
Mr. Muhammad Qasim(Director) Metropolitan Bank Ltd.
Mr. Muhammad Aslam Khan(Director) National Bank Of Pakistan
Mr. Muhammad Ilyas A. Sattar(Director) Habib Bank Ltd.
Mr. Muhammad Baqir Jafferi(Director)
Mr. Shahzad Ahmed Farooqui(Director)
Mr. Qamar-uz-Zaman(Director)

Sugarcanr crushed M.Tons 1,368,000 407,760
Chashma Sugar Mills Ltd.

Banglow No. 16, PSM Colony, Nowshera Road, Mardan
Mr. Khan Aziz Sarfaraz Khan(Chairman / C.E.O. Bank Alfalah Ltd. M/s. Hameed Chaudhri & Co.
Mr. Abbas Sarfaraz Khan(Director) Bank Al-Habib Ltd.
Begum Laila Sarfaraz(Director) Habib Bank Ltd.
Mr. Babar Ali Khan(Director) MCB Bank Ltd.
Ms. Zarmine Sarfaraz(Director) National Bank Of Pakistan
Mr. Iskandar M. Khan(Director) Saudi Pak Commercial Bank Ltd.
Ms. Najda Sarfaraz(Director) The Bank Of Khyber

Sugarcane crushed M.Tons 2,700,000 1,466,133
Sugar M.Tons 100,000 111,330
452
Crescent Sugar Mills And Distillery Ltd.
Crescent Sugar Mills & Distillery Ltd., New Lahore Road, Nishatabad, Faisalabad.
Mr. Mazhar Karim(Chairman) Habib Metropolitan Bank Limted M/S Riaz Ahmad & Co.
Mr. Muhammad Arshad(Chief Executive) National Bank Of Pakistan
Mr.Abid Mahmood(Director) Saudi Pak Industrial & Agriculture Investment Co
Mr. Khalid Bashir(Director) Saudi Pak Commercial Bank Ltd.
Mr. Muhammad Anwar(Director) MCB Bank Ltd.
Mr. Salman Rafi(Director)
Mr. Jamal Nasim (NIT)(Director)
Date of Annual General Meeting 31st December , 2008 Face Value Rs. 10.00

Sugar M. Tons 23,167 25,035
Distillery Liters 2,727,000 927,956
Spinning M.tons 20,498 18,251
Dewan Sugar Mills Ltd.

7th Floor, Block- 'A', Finance & Trade Centre, Shahra-e- Faisal, Karachi.
Dewan Muhammad Yosuf Faqooqui(Chairman / ABN Amro Bank N.V. M/s Feroze Sharif Tariq & Co.
Dewan Abdur Rehman Farooqui(Managing Direc My Bank Ltd.
Dewan Asim Mushfiq Farooqui(Director) Habib Bank Ltd.
Dewan Abdullah Ahmed Swaleh Farooqui(Direct Meezan Bank Ltd.
Dewan Abdul Baqi Farooqui(Director) Muslim Commercial Bank Ltd.
Mr. Harron Iqbal(Director) NIB Bank Ltd.
Mr. Anis Wahab Zuberi (NIT)(Director) The Bank Of Punjab

Sugarcan Crushed M. Tons 1280835 123760
Sugar M. Tons 100,000 83,156
453
Faran Sugar Mills Ltd.
Bank House No.1, 3rd Floor Habib Square, M.A.Jinnah Road, Karachi.
Mr. Mohammad Amin Ahmed Bawany(Chairman United Bank Limited M/S Khalid Majid Rahman Sarfaraz Rahim Iqbal
Mr. Muhammad Omer Amin Bawany(Vice ChairmHabib Metropolitan Bank Limted
Mr. Ahmed Ali Mohammed Amin(Chief Executive MCB Bank Ltd.
Mr. Iqbal A. Rehman(Director) Bank Al-Habib Ltd.
Mr. Abdul Wahid A Ghaffar(Director) Habib Bank Ltd.
Mr. A. Wahid Jalilwala(Director) Bank Al-Falah Ltd.
Mr. Muhammad Asif (NIT)(Director) Al baraka Islamic Bank

Crushing of sugarcane M. Tons 8,000 5,746
Sugar M. Tons Indeterminable 79,254
Fecto Sugar Mills Ltd.

1st Floor, Panorama Centre, Raja Ghazanfar Ali Khan Road, Saddar, Karachi.
Mr. Munawar Ali Fecto(Chairman / C.E.O.) MCB Bank Ltd. M/S Rehman Sarfaraz Rahim Iqbal Rafique.
Mr. Kaiser Mahmood Fecto(Deputy C.E.O.) Bank Of Khyber
Mr. James R. Richards(Director) NIB Bank Ltd.
Mr. Moin A. Haroon(Director) My Bank Ltd.
Mr. Imran Azim(Director)
Mr. Yahya Ahmed Bawany(Director)
Mr. Fazalur Rehman(Director)

Sugar M. Tons 40,800 53,500
454
Habib - ADM Ltd.( Habib Arkady LTD.)
2nd Floor, UBL Building, I.I.Chundrigar Road, Karachi.
Mr. Gaffar A. Habib(Chairman) Citibank N.A. M/s. Hyder Bhimji & Company
Mr. Ovais G. Habib(Managing Director) National Bank of Pakistan
Mr. Yusaf A. Habib(Director) Bank Al-Habib Ltd.
Mr. Tufail Y. Habib(Director)
Mr. Kenneth Denis Hayes(Director)
Ms. Fatemah G. Habib(Director)
Dr. Salma Habib(Director)

High Fructose Syrup Metric tons 45,000 19,035
Habib Sugar Mills Ltd.

Imperial Court, 3rd Floor, Dr. Ziauddin Ahmed Road, Karachi-75530
Mr. Asghar D. Habib(Chairman) Allied Bank of Pakistan Ltd. M/S Ford Rhodes Sidat Hyder & Co.
Mr. Raeesul Hasan(Chief Executive) Bank Al Habib Ltd.
Mr. Ali Raza D. Habib(Director) Citibank N.A.
Mr. Muhammad Nawaz Tishna(Director) Habib Metropolitan Bank Limted
Mr. Murtaza H. Habib(Director) Habib Bank Ltd.
Mr. Farouq Habib Rahimtoola(Director) First Women Bank Ltd.
Mr. Amin Ali Abdul Hamid(Director) Meezan Bank Ltd.

Cane crushing M. Tons 959000 710965
Sugar Distillery M. Tons 34,000 29608
Textile production Kgs. 300,000 685287
455
Haseeb Waqas Sugar Mills Ltd.
103-B/1, M.M.Alam Road, Gulberg-III, Lahore.
Mian Muhammad Ilyas Mehraj(Chairman) PICIC Commercial Bank Ltd. M/s. Rehman Sarfaraz Rahim Iqbal Rafique.
Mian Haseeb Ilyas(Chief Executive) MCB Bank Ltd.
Mr. Iqbal Latif(Director) National Bank Of Pakistan
Hafiz M. Irfan Hussain Butt(Director) The Bank Of Punjab
Mr. Sohail Ahmed Butt(Director) United Bank Ltd.
Mian Waqas Riaz(Director)
Mr. Raza Mustafa(Director)
Date of Annual General Meeting 02nd March , 2009 Face Value Rs. 10.00

Sugarcane crushed M. Tons 1,346,200 485,275
Sugar M. Tons 107,023 38,529
Husein Sugar Mills Ltd.

30-A E/1, Old FCC, Gulberg-III, Lahore
Mst. Nusrat Shamim(Chairperson / CEO.) Allied Bank Of Pakistan Ltd. M/S Riaz Ahmad & Co.
Mian Sajjad Aslam(Director) Bank Alfalah Ltd.
Mian Shahzad Aslam(Director) Habib Bank Ltd.
Mian Farrukh Naseem(Director) MCB Bank Ltd.
Mian Aamir Naseem(Director) National Bank Of Pakistan
Mst. Shirin Abid(Director) Bank Of Punjab
Mst. Ayesha Shahzad(Director) United Bank Ltd.

Sugar M. Tons 58,859 50,992
456
JDW Sugar Mills Ltd.
17-Abid Majeed Road, Lahore Cantt., Lahore.
Syed Ahmed Mahmud(Chairman) Allied Bank Ltd. KPMG Taseer Hadi & Co.
Mrs. Amina Tareen(Chief Executive) National Bank of Pakistan
Mr. Asim Nisar Bajwa(Director) Habib Bank Ltd.
Mr. Jahangir Khan Tareen(Director) Muslim Commercial Bank Ltd.
Mr. Muhammad Ismail(Director) The Bank Of Punjab
Mrs. Sameera Mahmud(Director) United Bank Ltd.
Mr. Abdul Ghaffar(Director) Standard Chartered Bank ( Pakistan) Ltd.

Crushing of sugarcane Metric tons 2,400,000 2,844,394
sugar Metric tons 150,000 288,949
Khairpur Sugar Mills Ltd.

G-22/II, Gizri Avenue, Defence Housing Authority, Phase IV, Karachi.
Mr. Muhammad Mubeen Jumani(Chairman / C.E Allied Bank Of Pakistan Ltd. M/s Haroon Zakaria & Company
Mr. Faisal Mubeen Jumani(Director) Bankers Equity Ltd.
Mr. Muhammad Bux(Director) MCB Bank Ltd.
Mrs. Qamer Mubeen Jumani(Director) Pakistan Industrial Credit & Investment Company.
Mr. Ahmed Ali(Chairman) United Bank Ltd.
Mr. Fahad Mubeen Jumani(Director)
Mr. Faraz Mubeen Jumani(Director)

Sugarcane crushing M.Tons 640,000 379,929
Sugar M.Tons 84,000 31,858
457
Kohinoor Sugar Mills Ltd.
Plot No. 29-G, Gulberg-III, Lahore.
Mr. M. Farooque Saigol(Chairman / C.E.O.) Bank Alfalah Ltd. M/S S. M. Masood & Co.
Mr. M. Usman Saigol(Director) Faysal Bank Ltd.
Mr. M. Saleem Saigol(Director) MCB Bank Ltd.
Mr. Zahid Sultan Sheikh(Director) Habib Bank Ltd.
Mr. Khwaja Khurshid Anwar(Director)
Mr. Tariq Rehman(Director)
Mr. Firasat Ali (NIT)(Director)

Sugar M.Tons 20,322 44,876
Mehran Sugar Mills Ltd.

Adamjee House, 8th Floor, I.I.Chundrigar Road, Karachi.
Mr. Mohammed Kasim Hasham(Chairman) MCB Bank Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Mohammed Ebrahim Hasham(Chief Executiv Bank Alflah Limited
Mr. Mohammed Hussain Hasham(Director) Bank Al Habib Ltd.
Mr. Khurram Kasim(Director) Al baraka Islamic Bank
Mr. Ahmed Ebrahim Hasham(Director)
Mr. Abdul Razzaq Usman(Director)
Mr. Mohammad Iqbal(Director)

sugar from raw sugar M. Tons 10,000 4,280
Sugar from cane M. Tons 70,000 47,296
458
Mirpurkhas Sugar Mills Ltd.
Modern Motors House, Beaumont Road, Karachi-75530
Mr. Mahmood Faruque(Chairman) NIB Bank Ltd. M/s. Hyder Bhimji & Co.
Mr. Aslam Faruque(Chief Executive) Habib Bank Ltd.
Mr. Mohammed Faruque(Director) MCB Bank Ltd.
Mr. Akbarali Pesnani(Director) Allied Bank Ltd.
Mr. Tariq Faruque(Director) United Bank Ltd.
Mr. Arif Faruque(Director) Bank Al-Habib Ltd.
Mr. Maqbool H. Rahimtoola (NIT)(Director) Natioanl Bank of Paksitan

Crushing of sugarcane M.Tons 621,000 563,057
Sugar M.Tons 60,000 58,224
Mirza Sugar Mills Ltd.

10th Floor, Portion B. Lakson Square Building No.1, Sarwar Shaheed Road, Karachi.
Dr. (Mrs.) Fehmida Mirza(Chairperson / CEO.) Allied Bank Of Pakistan Ltd. M/s. Khalid Majid Rahman Sarfaraz
Mir Ghulamullah Talpur(Director) Habib Bank Ltd. Rahim Iqbal Rafiq & Co.
Mr. Arshad Abid Abbasi(Director) MCB Bank Ltd.
Ms. Fareha Abid Kazi(Director) National Bank Of Pakistan
Mir Furqan Ali Talpur(Director) Picic Commercial Bank Ltd.
Mirza Saulat Raza(Director)
Mr. Irshad Hussain Mirza(Director)

Sugar M.Tons 62,640 31,090
459
Noon Sugar Mills Ltd.
1st Floor, Alfalah Building, Shahrah-e-Quaid-e-Azam Lahore.
Malik Manzoor Hayat Noon(Chairman / C.E.O.) Allied Bank Limited Habib Bank Ltd.
Mr. K. Iqbal Talib(Director) MCB Bank Ltd. M/S Hamid Chaudhri & Co.
Mr. Salman Hayat Noon(Director) United Bank Ltd.
Mr. Javed Ali Khan(Director)
Mr. Zaheer Ahmad Khan(Director)
Mr. Safdar M. Hayat Qureshi(Director)
Mr. Adnan Hayat Noon(Director)

Distillery Th. Liters 22,825 21,480
Cane crushing M.Tons 1,280,000 554,283
Sugar M.Tons 1,280,000 44,497
Pangrio Sugar Mills Ltd.

10th Floor, Building No.1, Lakson Square, Sarwar Shaheed Road, Karachi.
Mr. Aftab Ahmad(Chairman / C.E.O.) Allied Bank Ltd. M/s. Aslam Malik & Co.
Begum Akhtar Abid(Director) Bankers Equity Ltd.
Ms. Naheed Zafar Mirza(Director) Samba Bank Limited
Mr. Abbas Ali Agha(Director) Habib Bank Ltd.
Mr. Ali Ghazi Mirza(Director) MCB Bank Ltd.
Mr. Abdullah Kamran Soomro(Director) National Bank Of Pakistan
Mr. Asif Saeed(Director) United Bank Ltd.

Sugar M.Tons 42,600 31,142
460
Sakrand Sugar Mills Ltd.
41-K, Block-6, P.E.C.H.S., Karachi.
Mr. S. Ali Baqar Naqvi(Chairman / C.E.O.) National Bank Of Pakistan M/S Khalid Majid Rahman Sarfaraz Rahim Iqbal
Dr. Jamshed Hoshang Anklesaria(Director) Allied Bank Of Pakistan Ltd.
Mr. Waseem Kerio(Director) Habib Bank Ltd.
Mr. Riaz Ahmed Longi (I.C.P.)(Director) Muslim Commercial Bank Ltd.
Miss. Zahida Kerio(Director)
Mrs. Hamida Bano(Director)
Miss. Shahida Kerio(Director)

Saleem Sugar Mills Ltd.

Amin Building, 65-The Mall, Lahore.
Haji Anwar Ur Rehman(Chairman) Allied Bank Ltd. M/s. Hyder Bhimji & Co.
Mr. Mujib Ur Rehman(Chief Executive)
Mr. Masood Ur Rehman(Director)
Mr. Khanzada Gul(Director)
Mr. Muhammad Azeem(Director)
Mr. Israr Ud Din(Director)
Mr. Mehmood Shah(Director)

Cane Crushing M.Tons (Per day) 2,200 -
Beet Slicing M.Tons (Per day) 1,470 -
Cattle Feed Production M.Tons (Per day) 30 -
461
Sanghar Sugar Mills Ltd.
101-Frst Floor, 1st Floor, Ocean Centre, Talpur Road, Karachi.
Haji Khuda Bux Rajar(Chairman / C.E.O.) Allied Bank Of Pakistan Ltd. M/s. Hyder Bhimji & Co.
Jam Mitha Khan(Director) Askari Bank Ltd.
Mr. Mohammad Aslam(Director) MCB Bank Ltd.
Mr. Ghulam Dastagir Rajar(Director) National Bank Of Pakistan
Qazi Shamsuddin(Director) NIB Bank Ltd.
Mr. Gul Muhammad(Director)
Mr. Rana Ahmed Khan (NIT)(Director)

Sugar M.Tons 65,302 81,097
Sugarcane crushing M.Tons 1,092,000 853,592
Shahmurad Sugar Mills Ltd.

96-A, Sindhi Muslim Society, Karachi-74400.
Mr. Ismail Zakaria(Chairman) Habib Bank Ltd. M/S. Hyder Bhimji & Co.
Mr. Yusaf Ayoob(Chief Executive) Muslim Commercial Bank Ltd.
Mr. Suleman Ayoob(Director) National Bank Of Pakistan
Mr. A. Aziz Ayoob(Director) Saudi Pak Industrial & Agriculture Investment Co
Mr. Zia I. Zakaria(Director)
Mr. Ghulam Mohiuddin(Director)
Mr. Zohair Zakaria(Director)

Sugar M.Tons 79,800 69,286
Ethanol M.Tons 33,000 30,018
462
Shahtaj Sugar Mills Ltd.
19-Dockyard Road, West Wharf, Karachi-74000
Mr. Mahmood Nawaz(Chairman) Habib Bank Ltd. M/s. Ford, Rhodes, Sidat Hyder & Co.
Mr. Muneer Nawaz(Chief Executive) MCB Bank Ltd.
Mr. Cowasjee R.F Cowasjee(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Ardeshir Cowasjee(Director) United Bank Ltd.
Mr. C.M. Khalid(Director)
Mr. M. Naeem(Director)
Mr. Ijaz Ahmed(Director)

Sugar M.Tons 108,800 85,651
Shakarganj Mills Ltd.

BOP Tower, 10-B, Block E-2, Gulberg III, Lahore.
Mr. Mazhar Karim(Chairman) National Bank Of Pakistan M/S A. F. Ferguson & Co.
Mr. Ahsan M. Salim(Chief Executive) MCB Bank Ltd. M/S Riaz Ahmad & Co.
Mr. Gul Nawaz(Director) Bank of Punjab Ltd.
Mr. Khalid Bashir(Director) United Bank Limited
Mr. Muhammad Anwar(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Muhammad Arshad(Director)
Mr. Muhammad Asif(Director)

Cane crushing M. Tons 2,240,000 1,587,927
Ethanol (distillery) Thousand Liters 43,200 35,094
Building material (Particle board) Cubic Meter 3,000 1,834
463
Sindh Abadgar's Sugar Mills Ltd.
209, 2nd Floor, Progressive Plaza, Beaumont Road, Karachi.
Mr. Deoo Mall Essarani(Chairman / C.E.O.) Askari Bank Ltd. M/s Khalid Majid Rahman Sarfaraz Rahim Iqbal R
Mr. Dhalo Mal(Director) Allied Bank Ltd.
Mr. Pehlaj Raj(Director) MCB Bank Ltd.
Mr. Mohan Lal(Director) Bank Al-Falah Ltd.
Dr. Besham Kumar(Director) KASB Bank Ltd.
Dr. Tara Chand(Director)
Mr. Mahesh Kumar(Director)

sugar M.Tons 63,840 44,132
Tandlianwala Sugar Mills Ltd.

Plot No. 32-N, Gulberg-II, Lahore.
Mr. Akbar Akhtar Khan(Chairman) Allied Bank Of Pakistan Ltd. KPMG Taseer Hadi & Co.
Mr. Haroon Akhtar Khan(Chief Executive) Bank Alfalah Ltd.
Mr. Ghazi Khan(Director) Habib Bank Ltd.
Mrs. Rasheeda Begum(Director) Muslim Commercial Bank Ltd.
Mrs. Mobina Akbar Khan(Director) National Bank Of Pakistan
Mrs. Nazli Rafat Jamal(Director) United Bank Ltd.
Mr. Hameed Ullah Khan Paracha(Director)
Date of Annual General Meeting 02nd March , 2009 Face Value Rs. 10.00

Crushing of sugar cane M. Tons 2,880,000 1,496,948
Sugar M. Tons 150,000 129,337
464
The Frontier Sugar Mills & Distillery Ltd.
Nowshera Road, Mardan, NWFP.
Begum Laila Sarfaraz(Chairperson / CEO.) Allied Bank Of Pakistan Ltd. M/S Hameed Chaudhri & Co.
Khan Aziz Sarfaraz Khan(Director) Bank Alfalah Ltd.
Mr. Babar Ali Khan(Director) Habib Bank Ltd.
Ms. Zarmine Sarfaraz(Director) MCB Bank Ltd.
() National Bank Of Pakistan
Mr. Abbas Sarfaraz Khan(Director) The Bank Of Khyber
Mr. Iskandar M. Khan(Director) United Bank Ltd.

Sugar cane- crushing M.Tons 30,000 Nil
Sugar M.Tons 2,000 Nil
The Premier Sugar Mills & Distillery Co. Ltd.

The Premier Sugar Mills & Distillery Co. Ltd., Distt. Mardan, NWFP
Mr. Khan Aziz Sarfaraz Khan(Chairman) Saudi Pak Comm. Bank Ltd. M/S Hameed Chaudhri & Co.
Mr. Abbas Sarfaraz Khan(Chief Executive) Allied Bank Of Pakistan Ltd.
Ms. Mahnaz Saigol(Director) Bank Alfalah Ltd.
Begum Laila Sarfaraz(Director) Habib Bank Ltd.
Ms.Zarmine Sarfaraz(Director) Muslim Commercial Bank Ltd.
Mr. Iskandar M. Khan(Director) National Bank Of Pakistan
Ms. Najda Sarfaraz(Director) Kasb Bank Ltd.

Sugar cane- crushing M. Tons 750,400 197,313
Sugar M. Tons 100,000 16,772
Distillery Gallons 1,500,000 351,801
465
The Thal Industries Corporation Ltd.
2-D/1, Gulberg-III, Lahore.
Mr. Muhammad Shamim Khan(Chairman/ C.E.) Allied Bank Of Pakistan Ltd. M/s. Rehman Sarfaraz Rahim Iqbal Rafique.
Mr. Nauman Ahmad Khan(Managing Director) Bank Al-Habib Ltd.
Mrs. Qaiser Shamim Khan(Director) Habib Bank Ltd.
Mr. Adnan Ahmad Khan(Director) MCB Bank Ltd.
Mrs. Farrah Khan(Director) United Bank Ltd.
Mr. Muhammad Khan(Director)
Mr. Ahmad Khan(Director)

Crushing of sugarcane Metric Tons 1,227,600 1,022,696
United Sugar Mills Ltd.

17-Abid Majeed Road, Lahore Cantt. Lahore.
Syed Ahmed Mahmud(Chairman) Habib Bank Ltd. M/s. Hyder Bhimji & Co.
Mrs. Sameera Mahmud(Chief Executive) MCB Bank Ltd.
Ms. Meher Khan Tareen(Director) United Bank Ltd.
Mr. Ejaz Ahmed Phulpoto(Director)
Mr. Zafar Iqbal(Director)
Mr. Asim Nisar Bajwa(Director)
Mr. Abdul Ghaffar(Director)

Cane crushed M.Tons 840,000 995,700
Sugar M.Tons 70,000 101,082
466
PAPER & BOARD SECTOR
Paper And Board Sector (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 5690.7 7565.0 11343.2 17821.4 22645.9 20788.9
5.Debentures 4.1 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1459.9 1986.7 3497.7 6530.4 10747.8 9204.8
(i)Cash 363.0 492.9 2316.9 377.7 347.2 403.6
(ii)Investments 1096.9 1493.8 1180.8 6152.7 10400.6 8801.2
3.Inventories 1721.3 2407.9 2506.5 2876.5 3760.6 6818.2
C.Fixed Assets:
4.Total assets (B4+C2) 12654.9 14557.5 20226.5 31644.1 48191.6 54874.7
D.Operation:
1.Gross sales 13748.1 14153.7 16349.0 16792.7 19516.8 23603.2
(i)Local sales 13527.5 13940.6 16162.4 16602.6 19318.0 22993.3
(ii)Export sales 220.6 213.1 186.6 190.1 198.8 609.9
2.Cost of Sales 10947.2 11551.2 13553.1 14090.6 16906.3 21577.6
3.Gross profit 2800.9 2602.5 2795.9 2702.1 2610.5 2025.6
8.Tax provision 488.6 497.1 642.9 349.9 294.6 215.9
F.Cash Flow Data
469
Paper & Board

300
250
200
%150
100
50
0
2003 2004 2005 2006 2007 2008
45
140
40
120
35
100
30
Rupees
80
25
%
60 20
40 15
10
20
5
0
2003 2004 2005 2006 2007 2008 0
2003 2004 2005 2006 2007 2008
470
Abson Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -9.8 -9.8 -9.8 -9.8 -9.8 -9.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.0 0.0 0.0 0.0 0.0
(i)Cash 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 134.3 134.3 134.3 134.3 134.3 134.3
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 7.7 7.7 0.0 0.0 0.0 0.0
3.Gross profit -7.7 -7.7 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
471
Baluchistan Particle Board Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -43.7 -44.7 -45.0 -44.8 -44.3 -43.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.5 1.2 2.0 1.5 2.7 2.3
(i)Cash 1.5 1.2 2.0 1.5 2.7 2.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 14.3 12.1 13.5 12.5 13.1 12.2
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
7.Net profit before tax (D5-D6) 0.1 -1.6 -0.2 0.2 0.6 0.7
8.Tax provision 0.0 0.0 0.0 0.0 0.1 0.1
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - -66.7 -200.0 100.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - 0.0 - - - -
472
Central Forest Products Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -29.1 -35.3 -41.4 -47.3 -49.3 -50.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.2 3.5 2.6 1.2 1.3 0.2
(i)Cash 0.2 3.5 2.6 1.2 1.3 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 191.5 203.3 213.4 222.5 230.3 236.9
C.Fixed Assets:
4.Total assets (B4+C2) 295.1 294.1 298.6 304.5 307.3 308.3
D.Operation:
1.Gross sales 8.8 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 8.8 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 7.2 0.0 0.0 0.0 0.0 0.0
3.Gross profit 1.6 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.1 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - - - -57.1 100.0 103.2
10.Financial expenses as % of operating profit (D6 as % of D5) - - - -206.3 -10.5 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 700.0 -100.0 - - - -
473
Century Paper & Board Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 909.7 800.2 1161.7 2178.2 2255.4 2200.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 117.0 124.6 31.2 187.4 21.8 16.5
(i)Cash 17.0 24.6 31.2 21.8 21.8 16.5
(ii)Investments 100.0 100.0 0.0 165.6 0.0 0.0
3.Inventories 204.6 262.4 335.1 424.9 455.9 1496.5
C.Fixed Assets:
4.Total assets (B4+C2) 2027.1 2265.2 2843.7 4438.3 9630.9 13376.9
D.Operation:
1.Gross sales 2777.9 3013.5 3452.8 3843.9 4415.5 5036.3
(i)Local sales 2777.9 3013.5 3452.8 3843.9 4415.5 5036.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 2280.0 2586.7 2961.0 3385.3 4109.9 4717.9
3.Gross profit 497.9 426.8 491.8 458.6 305.6 318.4
8.Tax provision 57.2 100.1 114.5 17.1 38.6 23.9
F.Cash Flow Data
474
Cherat Papersack Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 220.0 234.4 248.8 245.1 315.8 354.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 120.2 98.4 84.1 83.6 70.2 60.3
(i)Cash 86.9 71.4 53.0 39.2 20.0 9.8
(ii)Investments 33.3 27.0 31.1 44.4 50.2 50.5
3.Inventories 105.4 173.0 198.0 297.1 513.1 973.5
C.Fixed Assets:
4.Total assets (B4+C2) 350.4 402.8 587.7 699.4 870.3 1541.0
D.Operation:
1.Gross sales 711.3 657.0 820.7 914.4 1351.0 2146.8
(i)Local sales 683.3 657.0 818.9 906.1 1344.3 2139.9
(ii)Export sales 28.0 0.0 1.8 8.3 6.7 6.9
2.Cost of Sales 579.2 575.9 744.7 874.9 1187.9 1968.7
3.Gross profit 132.1 81.1 76.0 39.5 163.1 178.1
8.Tax provision 41.0 20.4 14.9 4.0 13.9 23.9
F.Cash Flow Data
475
Dadabhoy Sack Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -11.8 2.8 5.4 20.2 21.9 8.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.2 0.1 0.7 0.8 0.3 0.3
(i)Cash 0.2 0.1 0.7 0.8 0.3 0.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 2.3 0.9 4.0 11.0 4.8 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 40.7 60.5 61.3 92.8 93.0 82.6
D.Operation:
1.Gross sales 70.8 102.9 100.3 96.8 69.4 47.5
(i)Local sales 70.8 102.9 100.3 96.8 69.4 47.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 65.2 81.0 86.8 77.8 54.7 50.2
3.Gross profit 5.6 21.9 13.5 19.0 14.7 -2.7
8.Tax provision 0.3 0.6 0.7 1.3 0.7 0.2
F.Cash Flow Data
476
Merit Packaging Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 42.0 53.8 176.5 194.4 211.7 205.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.2 0.7 0.3 0.2 0.3 0.7
(i)Cash 0.2 0.7 0.3 0.2 0.3 0.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 31.7 28.6 58.9 56.7 61.7 110.7
C.Fixed Assets:
4.Total assets (B4+C2) 153.1 146.5 484.4 509.4 541.5 839.3
D.Operation:
1.Gross sales 415.2 400.2 526.1 606.6 673.6 652.2
(i)Local sales 415.2 400.2 526.1 606.6 673.6 652.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 357.6 347.0 463.0 516.4 568.8 588.7
3.Gross profit 57.6 53.2 63.1 90.2 104.8 63.5
8.Tax provision 11.5 8.5 2.3 2.6 11.4 2.8
F.Cash Flow Data
477
Packages Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 2804.0 4393.9 7048.0 12971.5 17436.6 15428.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 741.7 1349.7 2729.0 5882.4 10181.3 8561.7
(i)Cash 98.2 147.4 2020.0 106.7 101.0 199.2
(ii)Investments 643.5 1202.3 709.0 5775.7 10080.3 8362.5
3.Inventories 844.1 1364.7 1144.0 1647.2 2206.2 3652.3
9.Net liquid assets (B1-B5) -2103.4 -1362.7 -138.5 2881.7 7260.1 2104.1
C.Fixed Assets:
4.Total assets (B4+C2) 6126.3 7636.5 11615.1 22671.0 33438.1 35034.4
D.Operation:
1.Gross sales 6861.1 6893.0 8163.0 9998.6 11686.4 14300.9
(i)Local sales 6806.8 6804.9 8061.9 9816.8 11494.3 13697.8
(ii)Export sales 54.3 88.1 101.1 181.8 192.1 603.1
2.Cost of Sales 5499.4 5584.4 6810.1 8428.9 10180.6 13357.6
3.Gross profit 1361.7 1308.6 1352.9 1569.7 1505.8 943.3
8.Tax provision 299.2 302.0 348.6 198.1 94.8 10.0
F.Cash Flow Data
478
Pakistan Paper Products Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 37.4 42.1 215.4 230.5 245.7 252.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9.7 13.9 22.3 21.0 20.9 16.5
(i)Cash 9.7 13.9 22.3 21.0 20.9 16.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 29.1 30.3 36.3 47.1 60.3 75.0
C.Fixed Assets:
4.Total assets (B4+C2) 95.6 98.1 271.9 289.6 335.0 351.4
D.Operation:
1.Gross sales 147.7 158.4 173.5 227.7 222.0 241.7
(i)Local sales 147.7 158.4 173.5 227.7 222.0 241.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 110.8 119.5 124.6 161.9 160.6 183.2
3.Gross profit 36.9 38.9 48.9 65.8 61.4 58.5
8.Tax provision 8.0 7.8 12.0 16.9 0.0 14.8
F.Cash Flow Data
479
Security Papers Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1242.3 1509.0 1798.9 2083.3 2262.0 2444.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 268.1 119.3 509.2 352.1 449.1 546.4
(i)Cash 66.6 119.3 155.0 185.1 179.0 158.1
(ii)Investments 201.5 0.0 354.2 167.0 270.1 388.3
3.Inventories 46.3 84.9 143.5 169.9 228.3 273.4
C.Fixed Assets:
4.Total assets (B4+C2) 1952.7 1935.7 2191.5 2492.0 2828.3 3194.5
D.Operation:
1.Gross sales 887.1 882.2 1127.0 1104.7 1099.0 1177.9
(i)Local sales 887.1 882.2 1127.0 1104.7 1099.0 1177.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 427.1 429.2 633.7 645.3 643.8 711.4
3.Gross profit 460.0 453.0 493.3 459.4 455.2 466.5
8.Tax provision 32.7 36.8 130.2 109.9 135.2 140.1
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 11.2 -0.6 27.7 -2.0 -0.5 7.2
480
Abson Industries Ltd.
Anum Estate, 8th Floor, 49-Darul Aman Society,Karachi.
Mr. Saifullah A. Paracha(Chairman / C.E.O.) Allied Bank Of Pakistan Ltd. M/S M. Yousuf Adil Saleem & Co.
Mr. Shamsul Haq(Director) Faysal Bank Ltd.
Mr. Bashir A. Habib(Director) Habib Bank Ltd.
Mr. Ghulam Rasul Kazi(Director) MCB Bank Ltd.
Haji Ghulam Muhammad Yaseen(Director) National Bank Of Pakistan
Mr. Muhammad Aslam(Director) United Bank Ltd.
Mr. Muhammad Hafeez Paracha(Director)


Papers
Note: Failed to call AGM for last three
years
Baluchistan Particle Board Ltd.

Imperial Court, 3rd Floor, Dr. Ziauddin Ahmed Road, Karachi-75530.
Mr. Muslim R. Habib(Chairman / C.E.O.) Bank Al-Habib Ltd. M/S Hyder Bhimji & Co.
Mr. Murtaza H. Habib(Director) Habib Bank Ltd.
Mr. Imran A. Habib(Director)
Mr. Mansoob A. Akhtar(Director)
Mr. Raza Abbas Jaffery(Director)
Mr. Ghulam Abbas Karjatwala(Director)
Mr. Ali A. Rahim(Director)

Urea formaldehyde M.Tons 4,000 Nil
Formaldehyde M.Tons 3,000 Nil
481
Central Forest Products Ltd.
Central Chambers, Ireland Road, Karachi.
Mr. Abdul Aziz H. Yaqoob(Chairman / C.E.O.) Bank Alfalah Ltd. M/S Abdan & Co.
Mr. Aamir Aziz(Director) My Bank Ltd.
Mr. Rizwan Mohammad(Director) National Bank Of Pakistan
Mrs. Qamarunnisa(Director) MCB Bank Ltd.
Mrs. Farhana Zain(Director)
Mrs. Saira Adam(Director)
Mrs. Fauzia Adnan(Director)

Plywood Sheets Sq. Meters 750,000 Nil
Door & Door Frames No. of doors 150,000 Nil
Sawing of timber Cubic feet 200,000 Nil
Century Paper & Board Mills Ltd.

Lakson Square Building - 2, Sarwar Shaheed Road, Karachi-74200
Mr. Iqbal Ali Lakhani(Chairman / C.E.O.) The Royal Bank of Scotland Ltd. M/S BDO Ebrahim & Co.
Mr. Tasleemuddin Ahmed Batlay(Director) Allied Bank Ltd.
Mr. Aftab Ahmed(Director) Askari Bank Ltd.
Mr. Zafar Iqbal Sobani(Director) National Bank Of Pakistan
Mr. Zulfiqar Ali Lakhani(Director) Oman International Bank S.A.O.G.
Mr. Amin Muhammad Lakhani(Director) The Hongkong & Shanghai Banking Corp. Ltd.
Mr. Syed Shabahat Hussain (NIT)(Director) Citi Bank N. A.

Paper & paper board-produced M.Tons 100,000 96,778
Paper & paper board-conversion M.Tons 22,000 17,128
482
Cherat Papersack Ltd.
1st Floor, Betani Arcade, Jamrud Road, Peshawar.
Mr. Mohammed Faruque(Chairman) M/S Ford Rhodes Sidat Hyder & Co. Standard Chartered Bank ( Pakistan) Ltd.
Mr. Amer Faruque(Chief Executive) Bank Al Habib Ltd.
Mr. Saquib H. Shirazi(Director) ABN - Amro Bank
Mr. Akbarali Pesnani(Director) Allied Bank Of Pakistan Ltd.
Mr. Iqbal Faruque(Director) Habib Bank Ltd.
Mr. Mahmood Faruque(Director) MCB Bank Ltd.
Mr. Aslam Faruque(Director) National Bank Of Pakistan

Bags Units in million 160,000 140,479
Dadabhoy Sack Ltd.

5th Floor, Maqbool Commercial Complex, Jinnah Co-Operative Housing Society, Block-7 & 8, Shahrah-e-Faisal, Karachi.
Mr. Mohammad Hussain Dadabhoy(Chairman) MCB Bank Ltd. M/s. Rehman Sarfaraz Rahim Iqbal Rafique & Co
Mr. Fazal Karim Dadabhoy(Chief Executive) National Bank Of Pakistan
Mr. Mohammad Amin Dadabhoy(Director) Saudi Pak Commercial Bank Ltd.
Mr. Naseemuddin(Director) Prime Commercial Bank Ltd.
Mrs. Humaira Dadabhoy(Director)
Mrs. Noor Bakht Dadabhoy(Director)
Mrs. Yasmeen Dadabhoy(Director)

Sack & paper products Million bags 26 2.5
483
Merit Packaging Ltd.
Lakson Square Building No.2, Sarwar Shaheed Road, Karachi-74200.
Mr. Iqbal Ali Lakhani(Chairman) Faysal Bank Ltd. BDO Ebrahim & Co.
Mr. Mohammad Shahid(Chief Executive) Citi Bank N. A.
Mr. Amin Mohammed Lakhani(Director) Habib Bank Ltd.
Mr. A. Aziz H Ebrahim(Director) Oman International Bank S.A.O.G.
Mr. Farooq Hasan (NIT)(Director) Deutsche Bank Ltd.
Mr. Muhammad Asif (NIT)(Director) JS Bank Ltd.
Mr. Tasleemuddin Ahmed Batlay(Director) KASB Bank Ltd.

Paper & paper products
Packages Ltd.
4th Floor, The Forum, Suite No. 416-422, G-20, Block-9, Khyaban-e- Jami, Clifton, Karachi-75600.
Mr. Towfiq Habib Chinoy(Chairman) The Royal Bank of Scotland Limited M/S A. F. Ferguson & Co.
Syed Hyder Ali(M.D. / C.E.O.) Askari Commercial Bank Ltd.
Mr. Khalid Yacob(Director) Dubai Islamic Bank Limited
Syed Aslam Mehdi(Director) Deutsche Bank A.G.
Mr. Shahid Aziz Siddiqui(Director) Faysal Bank Limited
Mr. Mujeeb Rashid(Director) MCB Bank Ltd.
Mr. Matti llmari Naakka(Director) Allied Bank Limited

Paper and paperboard- produced M. Tons 208,067 154,231
Paper and paperboard- converted M. Tons 124,298 91,450
Plastic all sorts-converted M. Tons 13,000 9,724
484
Pakistan Paper Products Ltd.
Plot No.D-58, Estate Avenue, S.I.T.E., Karachi.
Mr. Hashim Bin Sayeed(Chairman) Habib Bank Ltd. M/s. Qavi & Co.
Mr. Abid Sayeed(Chief Executive) MCB Bank Ltd.
Dr. Asadullah Sayeed(Director) Bank Al-Habib Ltd.
Mr. Abbas Sayeed(Director)
Mr. Aamir Ameen (NIT)(Director)
Mr. Mohammed Ali Sayeed(Director)
Mrs. Muleika Sayeed(Director)

Exercise book Gross 58,632 53,953
Sensitised paper Rolls 216,000 91,126
Pro- labels Sqr. Meters 1,150,000 1,197,405
Security Papers Ltd.

Jinnah Avenue, Malir Halt, Karachi.
Syed Naseem Ahmad(Chairman / C.E.O.) Bank Al-Falah Ltd. M/s A. F. Ferguson & Co.
Ms. Ayla Akin(Director) Bank Al-Habib Limited
Mr. Hasan Irfan(Director) National Bank of Pakistan
Mr. Akbar Sharifzada(Director) Faysal Bank Ltd.
Mr. Firasat Ali (NIT)(Director) Standard Chartered Bank Ltd.
Mr. Mehdi Lori Amini (IDRO)(Director) Metorpolitan Bank Ltd.
Mr. Sheikh Aijaz Akhtar(Director)

Paper printing Metric tons 2,000 1,839
485
CEMENT SECTOR
Cement Sector (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 5519.6 8024.1 20652.4 39386.4 61220.5 65859.4
5.Debentures 12543.7 3857.7 8377.7 4904.6 5260.8 12796.7
B.Liquidity:
1.Liquid Assets: 6734.4 8996.4 14143.9 25562.2 37773.8 34133.0
(i)Cash 1032.4 3298.3 4349.7 6003.5 5304.4 5629.8
(ii)Investments 5702.0 5698.1 9794.2 19558.7 32469.4 28503.2
3.Inventories 1687.1 2100.6 1774.8 2702.0 4221.7 6259.4
7.Net Current Assets(B4-B5) -3344.0 -4998.4 -5427.3 178.6 4923.0 -1431.0
C.Fixed Assets:
4.Total assets (B4+C2) 80941.1 84620.3 121105.4 175945.1 227934.8 264631.9
D.Operation:
1.Gross sales 38320.1 45537.3 60546.0 79237.1 83473.5 111752.2
(i)Local sales 37856.6 44760.2 57803.7 74355.4 75106.3 88896.1
(ii)Export sales 463.5 777.1 2742.3 4881.7 8367.2 22856.1
2.Cost of Sales 35707.1 36895.0 47984.2 56955.2 73361.5 100879.2
3.Gross profit 2612.9 8642.3 12561.8 22281.9 10112.0 10873.0
8.Tax provision 231.6 622.2 1055.8 1227.5 316.7 482.5
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] -164.8 360.2 1120.6 697.6 334.5 -739.2
487
Cement

200
150
% 100
50
0
2003 2004 2005 2006 2007 2008
25 25
20 20
15 15
Rupees
10 %
10
5
5
0
0
-5
-5
2003 2004 2005 2006 2007 2008
2003 2004 2005 2006 2007 2008
488
Al-Abbas Cement Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 208.1 103.3 2.9 17.0 238.1 -232.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9.0 1.2 14.1 118.1 2.4 9.4
(i)Cash 9.0 1.2 14.1 118.1 2.4 9.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 24.8 225.4 72.9 136.9 144.8 243.3
C.Fixed Assets:
4.Total assets (B4+C2) 1729.1 1697.9 1882.6 3818.8 4442.7 5273.9
D.Operation:
1.Gross sales 1055.4 903.1 687.9 1259.0 285.5 1362.7
(i)Local sales 1055.4 903.1 687.9 1172.9 285.5 639.5
(ii)Export sales 0.0 0.0 0.0 86.1 0.0 723.2
2.Cost of Sales 1027.4 844.2 726.9 1232.5 414.7 1247.4
3.Gross profit 28.0 58.9 -39.0 26.5 -129.2 115.3
8.Tax provision 2.9 0.0 2.4 4.6 1.1 7.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - - -32.9 -3.8 -273.9 -13.6
7.Cash flow ratio F1 as % of F2 - - -4.8 -0.9 -76.3 -6.4
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -12.3 -14.4 -23.8 83.0 -77.3 377.3
489
Attock Cement Pakistan Ltd (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - 586.9 1400.4 2231.6 2674.4 2810.0
5.Debentures - 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - 117.4 173.1 99.4 473.8 299.5
(i)Cash - 107.7 168.6 94.9 265.8 111.0
(ii)Investments - 9.7 4.5 4.5 208.0 188.5
3.Inventories - 197.3 162.3 167.2 276.4 409.5
7.Net Current Assets(B4-B5) - 213.4 131.7 -309.4 -224.6 -179.2
C.Fixed Assets:
4.Total assets (B4+C2) - 1850.1 3407.2 4871.6 5785.6 5871.1
D.Operation:
1.Gross sales - 2665.4 3518.3 4703.8 6237.2 6770.8
(i)Local sales - 2665.4 3518.3 4703.8 6237.2 6770.8
(ii)Export sales - 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales - 2052.2 2490.7 3038.7 4682.5 5666.4
3.Gross profit - 613.2 1027.6 1665.1 1554.7 1104.4
8.Tax provision - 119.1 273.0 487.0 22.8 57.7
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - 181.7 1356.0 1247.7 292.1 -64.5
3.Finance from outside the company (E1-E2) - -65.7 558.3 702.2 -553.8 -357.1
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) - 297.3 1462.8 1352.4 659.3 336.7
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -78.9 155.6 19.9 -14.5 -43.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - 16.8 32.0 33.7 32.6 8.6
490
Bestway Cement Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 262.4 745.7 1485.5 2509.0 3406.1 4023.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2611.1 2156.0 3032.2 5404.5 6401.1 5937.8
(i)Cash 41.6 293.2 605.6 419.6 886.3 348.6
(ii)Investments 2569.5 1862.8 2426.6 4984.9 5514.8 5589.2
3.Inventories 155.6 113.1 93.4 150.3 290.8 729.7
9.Net liquid assets (B1-B5) -52.0 743.5 770.4 1695.3 1907.9 143.6
C.Fixed Assets:
4.Total assets (B4+C2) 6561.1 5988.4 9023.9 18018.1 23081.4 25415.5
D.Operation:
1.Gross sales 2993.2 3801.2 4905.9 6131.1 8409.4 10669.6
(i)Local sales 2993.2 3801.2 4905.9 6131.1 8409.4 10669.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 2535.0 2730.8 3356.9 3837.6 7396.6 9661.3
3.Gross profit 458.2 1070.4 1549.0 2293.5 1012.8 1008.3
8.Tax provision 8.8 22.2 26.9 27.7 4.8 37.5
F.Cash Flow Data
491
Cherat Cement Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 474.8 696.0 1087.6 1281.8 1280.8 1202.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 228.9 396.3 758.5 557.8 550.1 169.5
(i)Cash 128.7 386.4 750.8 383.5 75.5 65.5
(ii)Investments 100.2 9.9 7.7 174.3 474.6 104.0
3.Inventories 48.9 79.9 88.5 145.2 117.3 207.5
C.Fixed Assets:
4.Total assets (B4+C2) 1907.7 2182.0 3202.8 3611.8 3533.4 4382.2
D.Operation:
1.Gross sales 2373.3 2466.8 3205.5 3010.6 3448.8 3881.0
(i)Local sales 2076.2 2466.8 2663.9 2149.4 2639.2 2746.0
(ii)Export sales 297.1 0.0 541.6 861.2 809.6 1135.0
2.Cost of Sales 2223.1 1751.6 2349.1 2064.9 3071.1 3701.6
3.Gross profit 150.2 715.2 856.4 945.7 377.7 179.4
8.Tax provision 10.5 147.4 178.4 47.6 77.1 15.1
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -29.9 179.4 25.6 299.0 -83.8 52.8
492
D.G. Khan Cement Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 2940.1 4427.5 7519.8 17424.3 31387.8 27544.8
5.Debentures 199.9 199.9 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2048.4 2858.5 5473.6 13103.2 25224.5 22104.7
(i)Cash 65.3 84.0 93.8 77.2 116.2 226.4
(ii)Investments 1983.1 2774.5 5379.8 13026.0 25108.3 21878.3
3.Inventories 186.0 298.5 101.0 226.3 295.1 445.9
C.Fixed Assets:
4.Total assets (B4+C2) 9511.5 11714.6 18016.5 34304.5 51744.4 51993.0
D.Operation:
1.Gross sales 5149.6 5697.6 7372.2 10955.9 9399.1 17473.5
(i)Local sales 5082.1 5392.4 6730.8 10348.1 8887.3 14732.4
(ii)Export sales 67.5 305.2 641.4 607.8 511.8 2741.1
2.Cost of Sales 4472.0 4312.1 5423.3 6993.1 7367.1 15537.3
3.Gross profit 677.6 1385.5 1948.9 3962.8 2032.0 1936.2
8.Tax provision 16.0 28.7 40.0 40.5 33.0 108.2
F.Cash Flow Data
493
Dadabhoy Cement Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 733.9 753.0 861.1 811.8 1256.1 1215.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 64.5 72.7 97.0 121.0 213.9 12.4
(i)Cash 11.4 21.2 43.9 13.0 4.9 9.3
(ii)Investments 53.1 51.5 53.1 108.0 209.0 3.1
3.Inventories 20.9 46.4 51.9 3.5 63.1 56.1
C.Fixed Assets:
4.Total assets (B4+C2) 3136.3 3192.7 3238.3 3438.7 3516.2 4619.4
D.Operation:
1.Gross sales 1196.9 1310.8 1852.6 1982.9 992.0 542.5
(i)Local sales 1196.9 1310.8 1852.6 1692.9 886.1 521.7
(ii)Export sales 0.0 0.0 0.0 290.0 105.9 20.8
2.Cost of Sales 1113.4 1068.4 1484.5 1495.3 986.8 569.2
3.Gross profit 83.5 242.4 368.1 487.6 5.2 -26.7
8.Tax provision 3.2 4.3 0.0 8.0 4.9 2.5
F.Cash Flow Data
494
Dandot Cement Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -229.9 -367.0 -331.0 -318.3 -201.6 -620.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 14.2 20.1 8.0 84.7 14.0 10.3
(i)Cash 14.2 20.1 8.0 84.7 14.0 10.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 32.9 9.6 39.2 32.2 30.4 42.2
C.Fixed Assets:
4.Total assets (B4+C2) 2223.8 2192.4 2139.1 2163.7 3024.3 3101.9
D.Operation:
1.Gross sales 1010.0 1212.0 1577.1 1963.0 1372.6 828.7
(i)Local sales 1010.0 1212.0 1577.1 1963.0 1372.6 814.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 14.4
2.Cost of Sales 1196.6 1219.0 1510.4 1742.6 1580.0 1065.3
3.Gross profit -186.6 -7.0 66.7 220.4 -207.4 -236.6
8.Tax provision 5.9 0.0 5.5 7.2 4.5 2.9
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - -77.4 - 106.0 -97.2 -380.5
7.Cash flow ratio F1 as % of F2 - -3.1 127.1 102.1 -71.8 -200.4
495
Dewan Cement Ltd. (Pakland Cement Ltd.) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 393.4 836.9 1448.9 1221.6 5192.8 4749.7
5.Debentures 6356.8 3346.9 2850.7 2629.8 4410.8 3850.0
B.Liquidity:
1.Liquid Assets: 857.9 828.1 915.2 1037.1 233.7 137.3
(i)Cash 54.9 22.1 108.1 76.8 224.5 132.6
(ii)Investments 803.0 806.0 807.1 960.3 9.2 4.7
3.Inventories 26.4 28.9 132.3 186.7 302.8 127.8
C.Fixed Assets:
4.Total assets (B4+C2) 8642.7 6551.6 7241.5 8231.9 22159.0 21611.1
D.Operation:
1.Gross sales 1738.6 2032.9 2757.0 3760.3 6307.3 6588.4
(i)Local sales 1738.6 2032.3 2757.0 3717.6 6144.3 6085.0
(ii)Export sales 0.0 0.6 0.0 42.7 163.0 503.4
2.Cost of Sales 1556.5 2015.9 2417.6 3016.9 5696.8 6696.7
3.Gross profit 182.1 17.0 339.4 743.4 610.5 -108.3
5.Operating profit 112.3 -270.2 350.6 741.9 718.1 -257.2
7.Net profit before tax (D5-D6) 73.0 -287.8 115.1 479.3 165.0 -582.3
8.Tax provision 5.5 6.9 9.5 13.4 21.6 23.0
2.Retention in business (D7-D8-D9) 67.5 -294.7 105.6 465.9 143.4 -605.3
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 0.8 -4.4 1.6 5.8 0.7 -2.7
10.Financial expenses as % of operating profit (D6 as % of D5) 35.0 - 67.2 35.4 77.0 -126.4
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 7.5 - 8.3 2.8 13.1 -3.9
15.Return on Equity (D7 as % of A3) 6.0 -17.3 5.1 16.7 1.9 -7.0
3.Net profit margin (D7 as % of D1) 4.2 -14.2 4.2 12.7 2.6 -8.8
4.Earning per share before tax (D7/No. of ordinary shares) 0.9 -3.5 1.4 2.9 0.5 -1.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.8 -3.6 1.3 2.8 0.4 -1.7
496
Fauji Cement Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -3304.2 -2215.0 -1699.6 -903.9 -459.2 1864.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 194.0 197.1 603.1 847.6 423.1 3783.9
(i)Cash 194.0 197.1 603.1 847.6 423.1 3783.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 48.0 61.6 55.9 145.1 183.3 230.1
C.Fixed Assets:
4.Total assets (B4+C2) 5551.1 5910.4 6223.7 6198.1 6400.7 12454.5
D.Operation:
1.Gross sales 2489.0 3247.3 3921.3 5683.4 4780.0 4749.2
(i)Local sales 2489.0 3247.3 3627.8 5194.6 4354.1 3889.6
(ii)Export sales 0.0 0.0 293.5 488.8 425.9 859.6
2.Cost of Sales 2313.4 2506.4 2839.8 3492.3 3688.5 4091.1
3.Gross profit 175.6 740.9 1081.5 2191.1 1091.5 658.1
8.Tax provision 7.7 12.6 15.7 21.4 17.3 17.7
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 405.6 711.2 -265.1 -34.8 178.2 5301.5
6.Self financing ratio (E2 as % of E1) -337.2 -55.7 - -459.8 -732.1 8.7
7.Cash flow ratio F1 as % of F2 -69.9 -0.6 - -4747.1 591.7 13.9
497
Fecto Cement Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 7.8 62.7 259.2 576.0 483.8 401.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 39.4 69.8 202.0 250.1 41.7 37.5
(i)Cash 39.4 69.8 202.0 250.1 41.7 37.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 73.1 37.2 103.4 25.4 78.1 115.7
C.Fixed Assets:
4.Total assets (B4+C2) 1319.3 1241.7 1490.7 1968.9 2082.9 2229.7
D.Operation:
1.Gross sales 1847.8 2056.3 2595.2 3375.6 3183.3 3352.7
(i)Local sales 1847.8 2056.3 2595.2 3375.6 3183.3 3021.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 331.2
2.Cost of Sales 1827.6 1785.0 2133.9 2574.7 2974.8 3161.6
3.Gross profit 20.2 271.3 461.3 800.9 208.5 191.1
8.Tax provision 5.6 12.1 113.7 154.6 0.6 3.1
3.Finance from outside the company (E1-E2) -146.6 -40.8 34.4 257.1 201.3 -56.1
F.Cash Flow Data
498
Flying Cement Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - - - - - 1892.9
5.Debentures - - - - - 0.0
B.Liquidity:
1.Liquid Assets: - - - - - 14.6
(i)Cash - - - - - 14.6
3.Inventories - - - - - 404.6
7.Net Current Assets(B4-B5) - - - - - -997.4
9.Net liquid assets (B1-B5) - - - - - -1642.0
C.Fixed Assets:
4.Total assets (B4+C2) - - - - - 5355.8
D.Operation:
1.Gross sales - - - - - 238.3
(i)Local sales - - - - - 228.5
2.Cost of Sales - - - - - 515.4
3.Gross profit - - - - - -277.1
5.Operating profit - - - - - -300.2
7.Net profit before tax (D5-D6) - - - - - -331.3
2.Retention in business (D7-D8-D9) - - - - - -334.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - - - -257.9
5.Return on assets (D7 as % of C4) - - - - - -6.2
10.Financial expenses as % of operating profit (D6 as % of D5) - - - - - -10.4
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - - - -0.9
15.Return on Equity (D7 as % of A3) - - - - - -9.1
3.Net profit margin (D7 as % of D1) - - - - - -139.0
4.Earning per share before tax (D7/No. of ordinary shares) - - - - - -1.9
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - - - - -1.9
499
Gharibwal Cement Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 339.9 86.3 1172.0 1425.2 1033.7 718.5
5.Debentures 0.0 0.0 0.0 0.0 225.0 399.8
B.Liquidity:
1.Liquid Assets: 200.3 182.5 490.5 319.5 751.8 157.2
(i)Cash 27.2 9.2 317.2 157.0 750.9 156.5
(ii)Investments 173.1 173.3 173.3 162.5 0.9 0.7
3.Inventories 31.4 36.5 24.2 135.7 77.8 77.8
C.Fixed Assets:
4.Total assets (B4+C2) 1714.9 1704.8 2347.4 4302.1 8225.6 10507.4
D.Operation:
1.Gross sales 1963.6 1742.8 2135.1 2209.0 771.8 0.0
(i)Local sales 1963.6 1742.8 2135.1 2209.0 771.8 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 2286.7 1647.1 1985.5 1934.2 960.2 75.2
3.Gross profit -323.1 95.7 149.6 274.8 -188.4 -75.2
8.Tax provision 15.6 10.0 7.5 3.1 2.5 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - 46.2 25.5 8.0 -5.2 -17.0
500
Javedan Cement Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -468.6 -421.2 -190.2 -60.3 -243.9 -286.4
5.Debentures 0.0 0.0 0.0 0.0 625.0 546.9
B.Liquidity:
1.Liquid Assets: 80.0 231.6 527.3 509.1 8.2 71.3
(i)Cash 80.0 231.6 397.3 394.9 8.2 71.3
(ii)Investments 0.0 0.0 130.0 114.2 0.0 0.0
3.Inventories 48.6 26.7 47.8 70.6 189.3 172.6
9.Net liquid assets (B1-B5) -346.2 -300.1 -75.8 44.2 -337.4 -357.0
C.Fixed Assets:
4.Total assets (B4+C2) 517.6 670.5 972.9 964.6 1286.8 1368.8
D.Operation:
1.Gross sales 920.6 1813.6 2061.0 2410.1 1572.7 1652.7
(i)Local sales 920.6 1813.6 2061.0 2410.1 1539.5 1527.6
(ii)Export sales 0.0 0.0 0.0 0.0 33.2 125.1
2.Cost of Sales 954.4 1672.0 1754.2 1979.4 1494.7 1564.0
3.Gross profit -33.8 141.6 306.8 430.7 78.0 88.7
5.Operating profit -37.2 122.2 295.9 423.8 -103.1 41.9
8.Tax provision 0.0 37.0 111.0 111.7 5.6 6.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -8.6 178.3 61.5 -5.0 -41.5 10600.0
7.Cash flow ratio F1 as % of F2 -3.5 154.7 64.2 7.3 -36.3 -301.3
10.Financial expenses as % of operating profit (D6 as % of D5) - 0.6 0.3 0.3 -72.4 237.5
501
Kohat Cement Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 291.1 384.1 603.9 1358.6 1321.8 1158.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 53.5 168.1 289.1 663.5 132.4 37.0
(i)Cash 53.5 168.1 289.1 656.9 132.4 37.0
(ii)Investments 0.0 0.0 0.0 6.6 0.0 0.0
3.Inventories 26.0 15.1 22.3 87.9 125.1 174.3
7.Net Current Assets(B4-B5) -138.3 -3.0 94.6 444.5 -215.4 -934.2
9.Net liquid assets (B1-B5) -390.7 -352.4 -148.3 111.2 -689.0 -2272.4
C.Fixed Assets:
4.Total assets (B4+C2) 1145.8 1423.0 1651.9 3076.2 5864.3 7623.9
D.Operation:
1.Gross sales 1620.1 1979.6 2353.7 2922.6 2050.4 1823.6
(i)Local sales 1611.3 1773.2 2120.7 2237.9 1526.9 1309.4
(ii)Export sales 8.8 206.4 233.0 684.7 523.5 514.2
2.Cost of Sales 1531.0 1484.1 1689.5 1723.0 1707.1 1736.2
3.Gross profit 89.1 495.5 664.2 1199.6 343.3 87.4
8.Tax provision 18.1 130.9 176.3 192.6 23.9 7.1
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -93.8 131.6 123.2 64.7 1.7 -105.5
502
Lafarge Pak. Cement Ltd. (Pakistan Cement Ltd.) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1351.7 217.8 -207.8 -266.0 -851.3 -2096.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.5 0.3 0.9 23.2 678.4 55.5
(i)Cash 0.5 0.3 0.9 23.2 678.4 55.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 26.0 498.8 946.9
C.Fixed Assets:
4.Total assets (B4+C2) 8857.3 9202.5 8815.4 15776.6 21471.5 21980.1
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 6225.0 10079.8
(i)Local sales 0.0 0.0 0.0 0.0 5116.4 7804.1
(ii)Export sales 0.0 0.0 0.0 0.0 1108.6 2275.7
2.Cost of Sales 0.0 0.0 0.0 0.0 6724.3 9504.9
3.Gross profit 0.0 0.0 0.0 0.0 -499.3 574.9
5.Operating profit 0.0 0.0 645.3 -53.7 -1.8 67.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 23.1
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 0.0 - - -0.7 -29.4 182.3
3.Net profit margin (D7 as % of D1) - - - 0.0 -12.8 -14.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - 0.0 -109.1 600.0 57.1
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - 0.0 - - - 61.9
503
Lucky Cement Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1269.1 1895.9 2548.6 4435.9 6719.8 15421.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 40.4 1000.1 141.4 2063.8 1239.2 270.0
(i)Cash 40.4 1000.1 141.4 2063.8 1239.2 270.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 115.1 172.3 115.8 431.4 676.3 709.4
C.Fixed Assets:
4.Total assets (B4+C2) 4818.0 7040.0 14806.9 23622.8 25723.8 34239.1
D.Operation:
1.Gross sales 3808.8 4270.0 5566.4 10707.9 16623.4 20819.8
(i)Local sales 3730.5 4028.4 4897.0 9379.1 12309.6 11539.0
(ii)Export sales 78.3 241.6 669.4 1328.8 4313.8 9280.8
2.Cost of Sales 3361.1 3169.5 4186.8 7797.2 12948.2 16457.0
3.Gross profit 447.7 1100.5 1379.6 2910.7 3675.2 4362.8
8.Tax provision 11.0 16.6 19.9 39.9 63.1 85.4
F.Cash Flow Data
504
Maple Leaf Cement Factory Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1148.3 1629.7 3040.6 3792.4 4724.3 4081.7
5.Debentures 208.3 125.0 41.7 0.0 0.0 8000.0
B.Liquidity:
1.Liquid Assets: 135.9 228.3 374.8 118.3 1068.1 853.8
(i)Cash 130.9 223.3 369.8 100.9 123.4 118.9
(ii)Investments 5.0 5.0 5.0 17.4 944.7 734.9
3.Inventories 98.2 100.1 183.2 200.9 369.7 434.0
C.Fixed Assets:
4.Total assets (B4+C2) 7064.4 7087.6 10419.4 18793.3 23432.5 26136.5
D.Operation:
1.Gross sales 4025.3 4967.5 6193.4 7954.9 5514.2 10552.4
(i)Local sales 4025.3 4967.5 6193.4 7954.9 5514.2 8195.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 2357.3
2.Cost of Sales 3663.7 3819.2 4865.5 5806.3 5204.3 9228.6
3.Gross profit 361.6 1148.3 1327.9 2148.6 309.9 1323.8
8.Tax provision 12.3 17.3 38.9 28.5 9.7 44.8
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -68.4 - 34.5 23.7 -4.6 -4403.1
505
Mustehkam Cement Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -780.4 -883.1 -940.5 2506.1 2733.6 2540.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.9 0.7 0.7 5.4 11.0 19.5
(i)Cash 0.9 0.7 0.7 5.4 11.0 19.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 2.8 2.8 2.8 128.5 164.5 306.8
C.Fixed Assets:
4.Total assets (B4+C2) 495.9 463.1 437.3 4141.7 4923.9 5669.5
D.Operation:
1.Gross sales 0.0 0.0 0.0 408.7 940.6 1484.9
(i)Local sales 0.0 0.0 0.0 408.7 940.6 1484.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 406.4 1224.5 1768.5
3.Gross profit 0.0 0.0 0.0 2.3 -283.9 -283.6
5.Operating profit -26.9 -31.4 -27.8 -7.8 100.5 -300.7
7.Net profit before tax (D5-D6) -92.5 -97.5 -60.2 -22.7 37.5 -416.2
8.Tax provision 0.0 0.0 0.0 1.6 3.2 4.9
2.Retention in business (D7-D8-D9) -92.5 -97.5 -60.2 -24.3 34.3 -421.1
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -18.7 -21.1 -13.8 -0.5 0.8 -7.3
7.Cash flow ratio F1 as % of F2 - -19.9 - -0.3 27.0 -23.9
10.Financial expenses as % of operating profit (D6 as % of D5) - - - -191.0 62.7 -38.4
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - -7.0 8.5 -1.2
15.Return on Equity (D7 as % of A3) - - - -0.9 1.3 -15.5
3.Net profit margin (D7 as % of D1) - - - -5.6 4.0 -28.0
4.Earning per share before tax (D7/No. of ordinary shares) -7.5 -7.9 -4.9 -1.8 3.0 -27.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -7.5 -7.9 -4.9 -2.0 2.8 -28.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - - 130.1 57.9
506
Pioneer Cement Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 191.9 -400.7 703.0 1301.6 972.3 2550.0
5.Debentures 174.6 185.9 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 18.8 37.2 17.5 71.9 305.5 139.2
(i)Cash 18.8 37.2 17.5 71.9 305.5 139.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 48.5 50.8 56.8 96.8 150.3 68.7
C.Fixed Assets:
4.Total assets (B4+C2) 3948.3 4274.7 6887.8 8405.0 8610.5 10472.7
D.Operation:
1.Gross sales 1797.8 1958.3 2800.1 4153.6 4648.7 6607.5
(i)Local sales 1797.8 1958.3 2436.8 3754.9 4276.7 5150.4
(ii)Export sales 0.0 0.0 363.3 398.7 372.0 1457.1
2.Cost of Sales 1683.6 1571.7 2127.0 2922.9 4330.5 6093.8
3.Gross profit 114.2 386.6 673.1 1230.7 318.2 513.7
8.Tax provision 5.3 6.7 11.3 17.7 18.3 24.5
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -376.4 - 26.9 83.7 -8.6 -4.4
507
Thatta Cement Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - - - - - -227.0
5.Debentures - - - - - 0.0
B.Liquidity:
1.Liquid Assets: - - - - - 6.4
(i)Cash - - - - - 6.4
3.Inventories - - - - - 175.9
7.Net Current Assets(B4-B5) - - - - - -6.8
9.Net liquid assets (B1-B5) - - - - - -602.5
C.Fixed Assets:
4.Total assets (B4+C2) - - - - - 1346.4
D.Operation:
1.Gross sales - - - - - 1820.8
(i)Local sales - - - - - 1313.3
2.Cost of Sales - - - - - 1611.4
3.Gross profit - - - - - 209.4
5.Operating profit - - - - - 139.1
7.Net profit before tax (D5-D6) - - - - - 53.7
2.Retention in business (D7-D8-D9) - - - - - 46.4
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - - - 93.0
5.Return on assets (D7 as % of C4) - - - - - 4.0
10.Financial expenses as % of operating profit (D6 as % of D5) - - - - - 61.4
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - - - 13.6
15.Return on Equity (D7 as % of A3) - - - - - 9.4
3.Net profit margin (D7 as % of D1) - - - - - 2.9
4.Earning per share before tax (D7/No. of ordinary shares) - - - - - 0.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - - - - 0.6
508
Zeal Pak Cement Factory Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -68.2 -599.9 -324.6 -266.7 -428.0 -2853.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9.3 7.3 5.1 6.5 0.6 6.6
(i)Cash 9.3 7.3 5.1 6.5 0.6 6.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 158.7 148.9 136.0 213.2 162.5 180.8
7.Net Current Assets(B4-B5) -342.5 -331.1 24.5 167.0 83.0 -487.5
C.Fixed Assets:
4.Total assets (B4+C2) 1197.4 2315.1 2183.0 2449.9 2255.4 2980.1
D.Operation:
1.Gross sales 884.6 1077.6 1511.9 1424.0 697.3 453.5
(i)Local sales 884.6 1077.6 1511.9 1424.0 697.3 453.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 980.6 1111.3 1447.9 1306.7 857.2 926.4
3.Gross profit -96.0 -33.7 64.0 117.3 -159.9 -472.9
8.Tax provision 2.7 3.5 6.8 5.1 2.4 1.6
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - -22.7 -50.4 -190.6 269.5 -273.6
7.Cash flow ratio F1 as % of F2 - -11.9 -11.7 -16.0 431.4 -143.2
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -6.0 21.8 40.3 -5.8 -51.0 -35.0
509
Al-Abbas Cement Industries Ltd.
Perdesi House, Survey No. 2/1, R.Y.16, Old Queens Road, Karachi.
Mr. Asim Ghani(Chairman) Allied Bank Of Pakistan Ltd. M/s. M. Sikander & Co.
Mr. Shunaid Qureshi(Chief Executive) Bank Al-Falah Ltd.
Mr. Ajaz Ahmed Zaidi(Director) Albaraka Islamic Bank Ltd.
Mr. Tariq Usman Bhatti(Director) Habib Bank Ltd.
Mr. Duraid Qureshi(Director) KASB Bank Ltd.
Syed Salman Rasheed(Director) National Bank Of Pakistan
Mr. Aves Cochinwala(Director) United Bank Ltd.

Clinker Metric tons 900,000 323,636
Attock Cement Pakistan Ltd

D-70, Block-4, Kehkashan-5, Clifton, Karachi.
Dr. Ghaith R. Pharaon(Chairman) Allied Bank Ltd. M/s. A.F.Ferguson & Co.
Mr. Babar Bashir Nawaz(Chief Executive) KASB Bank Ltd.
Mr. Laith G. Pharaon(Director) The Bank Of Punjab
Mr. Wael G. Pharaon(Director) Bank Al Habib Ltd.
Mr. Shuaib A. Malik(Director) First Women Bank Ltd.
Mr. Abdus Sattar(Director) Meezan Bank Ltd.
Mr. Bashir Ahmad(Director) NIB Bank Ltd.

Cliniker M. Tons 1,710,000 1,359,766
Cement M. Tons 1,795,500 1,364,511
510
Bestway Cement Ltd.
Bestway Building, 19-A, College Road, F-7 Markaz, Islamabad.
Sir Mohammed Anwer Pervez(Chairman) MCB Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Zameer Mohammed Choudhary(Chief Execu Union Bank Limited
Mr. Arshad Mehmood Choudhary(Director) Askari Commercial Bank Limited
Mr. Ghulam Sarwar Malik(Director) Bank Al-Habib Limited
Mr. Mazhar Rafi(Director) Bank Alflah Limited
Mr. Arshad Hameed(Director) Faysal Bank Ltd.
Mr. Muhammad Irfan A. Shaikh(Director) Habib Bank Ltd.

Clinker Hattar Metric Tons 1,170,000 1,120,027
Clinker Chakwal Metric Tons 1,710,000 1,539,415
Cherat Cement Company Ltd.

Modern Motor House, Beaumont Road, Karachi-75530
Mr. Mohammad Faruque(Chairman) RBS Bank Ltd. M/S. Ford Rhodes Sidat Hyder & Co.
Mr. Azam Faruque(M.D. / C.E.O.) Allied Bank Of Pakistan Ltd.
Mr. Arif Faruque(Director) American Express Bank Ltd.
Mr. Shehryar Faruque(Director) Bank Al-Habib Ltd.
Mr. Akbarali Pesnani(Director) Credit Agricole Indosuez
Mr. Raja Sarfaraz Akram (NIT)(Director) Habib Bank Ltd.
Mr. Muhammad Nawaz Tishna (NIT)(Director) MCB Bank Ltd.

Clinker M. Tons 1,000,000 1,000,710
511
D.G. Khan Cement Company Ltd.
Nishat House, 53-A, Lawrence Road, Lahore.
Mrs. Naz Mansha(Chairperson) The Royal Bank of Scotland Ltd. KPMG Taseer Hadi & Co.
Mian Raza Mansha(Chief Executive) Allied Bank Ltd.
Mr. Muhammad Azam(Director) Habib Bank Ltd.
Mr. Inayat Ullah Niazi(Director) The Bank Of Punjab
Mr. Khalid Qadeer Qureshi(Director) National Bank Of Pakistan
Mr.Manzar Mushtaq(Director) MCB Bank Ltd.
Mr. Zaka-ud-Din(Director) United Bank Ltd.

Clinker M. tons 4,020,000 4,142,764
Cement Bags Nos. 120,000,000 80,188,180
Dadabhoy Cement Industries Ltd.

5th Floor, Maqbool Commercial Complex, J.C.H.S. Block 7 & 8, Shahrah-e-Faisal, Karachi.
Mr. Mohammad Hussain Dadabhoy(Chairman) Saudi Pak Commercial Bank Ltd. M/s Tanzeem & Co.
Mr. Mohammad Amin Dadabhoy(Chief Executive Prime Commercial Bank Limited
Mr. Fazal Karim Dadabhoy(Director) MCB Bank Ltd.
Mr. Naseemuddin(Director) National Bank Of Pakistan
Syed Naseem Ahmed(Director)
Mrs. Yasmeen Dadabhoy(Director)
Mrs. Noor Bakht Dadabhoy(Director)

Cement M. Tons 598,000 134,215
512
Dandot Cement Company Ltd.
30-Sher Shah Block, New Garden Twon, Lahore
Mrs. Tanveer Rasheed(Chairperson) The Bank Of Punjab M/S Amin, Mudassar & Co.
Mr. Muhammad Rasheed(Chief Executive) Bank Alfalah Limited
Mr. Mansoor Rasheed(Director) KASB Bank Ltd.
Mr. Saud Rasheed(Director) PICIC Commercial Bank Ltd.
Ms. Rizwana Rasheed(Director) Habib Bank Ltd.
Mrs. Ayesha Mansoor(Director) National Bank Of Pakistan
Mrs. Amina Saud(Director) Saudi Pak Commercial Bank Ltd.

Cement M. Tons 504,000 211,051
Dewan Cement Ltd. (Pakland Cement Ltd.)

Blcok-A, 2nd Floor, Finance & Trade Centre, Shahrah-e-Faisal, Karachi.
Dewan M. Yousuf Farooqui(Chairman / C.E.O.) United Bank Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Muhammad Azimuddin(Director) Allied Bank Of Pakistan Ltd.
Mr. Azizul Haque(Director) Askari Commercial Bank Ltd.
Dewan Abdullah Ahmed(Director) Faysal Bank Ltd.
Syed Muhammad Ali Khan(Director) Habib Bank Ltd.
Dewan Abdul Baqi Farooqui(Director) National Bank Of Pakistan
Mr. Basheer Ahmed Chowdry (Creditors)(Directo Standard Chartered Bank Ltd.

Clinker M.Tons 1,980,000 1,338,862
513
Fauji Cement Company Ltd.
1st Floor, Aslam Plaza, 60 Adamjee Road, Saddar, Rawalpindi.
Lt. Gen. (Retd.) Syed Arif Hasan(Chairman) Habib Bank Ltd. KPMG Taseer Hadi & Co.
Maj. Gen. (Retd.) M. Iftikhar Khan(M.D. / C.E.O. Muslim Commercial Bank Ltd.
Brig. (Retd.) Arif Rasul Qureshi(Director) National Bank Of Pakistan
Brig. (Retd.) Munawar Ahmed Rana(Director) Standard Chartered Bank Ltd.
Mr. Qaisar Javed(Director)
Mr. Riyaz H. Bokhari (IFU)(Director)
Brig. (Retd.) Rahat Khan(Director)

Cement production M.Tons 1,165,500 1,174,722
Fecto Cement Ltd.

35-Darul Aman Housing Society, Block 7&8, Shahra-e-Faisal, Karachi.
Mr. Mohammed Asad Fecto(Chairman) Habib Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Mohammed Yasin Fecto(Chief Executive) MCB Bank Ltd. M/s Khalid Majid Rehman Sarfaraz Rahim Iqbal R
Mrs. Zubeda Bai(Director) National Bank Of Pakistan
Mr. Khalid Yacoob(Director) NIB Bank Ltd.
Mr. Muhammad Hussain(Director) Saudi Pak Ind. & Agr. Inv. Co. (Pvt.) Ltd.
Mr. Safdar Abbas Morawala(Director)
Mr. Mohammed Ilyas Khan(Director)

Cement M.Tons 780,000 763,478
514
Flying Cement Ltd.
103-Fazal Road, Lahore Cantt, Lahore
Mr. Kamran Khan(Chairman / C.E.O.) Askari Bank Ltd. M/S Tahir Siddiqi & Co.
Mr. Imran Qamar(Director) Bank Of Punjab
Mr. Momin Qamar(Director) United Bank Ltd.
Mr. Bilal Qamar(Director) Al Baraka Islamic Bank
Mr. Yousuf Kamran Khan(Director) Faysal Bank Ltd.
Mrs. Samina Kamran(Director) MCB Bank Ltd.
Mr. Qasim Khan(Director) National Bank of Pakistan.

Clinker M.Tons 1,200,000 38,533
Cement M.Tons 1,260,000 61,985
Gharibwal Cement Ltd.

34 - Main Gulberg , P.O.Box 1285, Lahore
Mr. Mohd. Tousif Peracha(Chairman / C.E.O.) Askari Bank Ltd. M/s.. Viqar A.Khan & Co.
Mrs. Tabassum Tousif Peracha(Director) Citi Bank N. A.
Mr. Abdul Rafique Khan(Director) The Royal Bank of Scotland Ltd.
Mr. Ali Rashid Khan(Director) Habib Bank Ltd.
Mrs. Amna Khan(Director) MCB Bank Ltd.
Mr. M. Niaz Piracha(Director) National Bank Of Pakistan
Mr. Asif Muhammad Ali(Director) Saudi Pak Commercial Bank Ltd.

Cliniker M. Tons 540,000 -
Cement M. Tons 568,420 -
515
Javedan Cement Ltd.
Al-Haroon, 2nd Floor, 10 Agha Khan III Road, Karachi-74400.
Mr. Nasim Beg(Chairman) Allied Bank Of Pakistan Ltd. M/s Haroon Zakaria & Company
Mr. Asim Ghani(Chief Executive) Habib Bank Ltd.
Mr. Shunaid Qureshi(Director) MCB Bank Ltd.
Mr. Ajaz Ahmed(Director) National Bank Of Pakistan
Mr. Mohammad Ayub(Director) United Bank Ltd.
Mr. Rafiq Tumbi(Director)
Mr. Aves Cochinwala(Director)

Cement M.Tons 600,000 370,050
Kohat Cement Ltd.

Kohat Cement Ltd., Rawalpindi Road, Kohat.
Mr. Aizaz Mansoor Sheikh(Chief Executive) National Bank Of Pakistan KPMG Taseer Hadi & Co.
Mr. Ibrahim Tanseer Sheikh(Director) Askari Commercial Bank Ltd.
Mrs. Hafsa Nadeem(Director) Allied Bank Of Pakistan Ltd.
Mr. Nadeem Atta Sheikh(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Tariq Atta Sheikh(Director) The Bank of Khyber
Mrs. Ghazala Amjad(Director) Soneri Bank Ltd.
Mr. Omer Aziz Sheikh(Director) Muslim Commercial Bank Ltd.

Cement-Gray M.Tons 567,000 450,251
Cement-White M.Tons 141,750 21,114
Clinker-Gray M.Tons 540,000 428,937
516
Lafarge Pak. Cement Ltd. (Pakistan Cement Ltd.)
18-B, Kaghan Road, F-8 Markaz, Islamabad.
Mr. Ahmed Said Heshmat Hassan(Chairman) Habib Bank Ltd. M/S Ford Rhodes Sidat Hyder & Co.
Maj. Gen. (Retd.) Rehmat Khan(Chief Executive MCB Bank Ltd.
Mr. Jean Desazars(Director) Allied Bank Ltd.
Mrs. Amal Tantawi(Director) Citibank N.A.
Mr. Ashraf Abouelkheir(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Ahmed Shebl Tolba Daabes(Director) Union Bank Ltd.
Mr. Amr Ali Reda(Director)

Clinker M.Tons 2,400,000 2,001,565
Lucky Cement Ltd.

Lucky Cement Fectory Ltd., Tehsil: Pezu, Dist. Lucky Marwat, NWFP.
Mr.Muhammad Yunus Tabba(Chairman) Habib Metorpolitan Bank Ltd. M/s Ford Rhodes Sidat Hyder & Co.
Mr. Muhammad Ali Tabba(Chief Executive) MCB Bank Ltd.
Mr. Imran Yunus Tabba(Director) Citi Bank N. A.
Miss Mariam Razzak(Director) Habib Bank Limited
Mrs. Rahila Aleem(Director) ABN - Amro Bank
Mr. Javed Yunus Tabba(Director) Citibank N.A.
Mr. Muhammad Sohail Tabba(Director) Habib Bank Ltd.

Clinker M. Tons 6,500,000 5,161,380
Cement M. Tons 7,000,000 5,248,664
517
Maple Leaf Cement Factory Ltd.
42-Lawrence Road, Lahore.
Mr. Tariq Sayeed Saigol(Chairman) Allied Bank Of Pakistan Ltd. M/s. Hameed Chaudhri & Co.
Mr. Sayeed Tariq Saigol(Chief Executive) Habib Bank Ltd.
Miss. Jahanara Saigol(Director) MCB Bank Ltd.
Mr. Taufique Sayeed Saigol(Director) National Bank Of Pakistan
Mr. Zamiruddin Azar(Director) Bank Al-Falah Ltd.
Mr. S.M.Imran(Director) Soneri Bank Ltd.
Mr. Waleed Tariq Saigol(Director) The Bank Of Punjab

Clinker- gray M. Tons 2,840,000 2,062,209
Clinker- white M. Tons 180,000 75,235
Mustehkam Cement Ltd.

345-Bazar Road, Westridge, Rawalpindi Cantt, Rawalpindi.
Mr. Abdul Bari Khan(Chairman) Habib Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Muhammad Riaz Khan(Chief Executive) National Bank Of Pakistan
Mr. Naseem-ul-Haq Satti(Director)
Mr. Saad Ashraf(Director)
Mr. Badshah Gul Wazir(Director)
Mr. Shahid Anwar(Director)
Mr. Muhammad Zafar Khan(Director)

Cliniker M.Tons 630,000 384,446
518
Pioneer Cement Ltd.
1st Floor, Alfalah Building, Shahrah-e-Quaid-e-Azam, Lahore.
Malik Manzoor Hayat Noon(Chairman) Bank Al-Habib Ltd. M/S Ford Rhodes Sidat Hyder & Co.
Mr. Javed Ali Khan(M.D. / C.E.O.) Habib Bank Ltd.
Mr. Adnan Hayat Noon(Director) National Bank Of Pakistan
Malik Salman Hayat Noon(Director) Askari Bank Ltd.
Mr. Wajahat A. Baqai (NBP)(Director) United Bank Limited
Mr. K. Iqbal Talib(Director)
Mr. Rafique Dawood (FDIB)(Director)

Clinker M. Tons 1,995,000 1,640,092
Cement M. Tons Indeterminable 1,785,014
Thatta Cement Ltd.

Perdesi House, Survey No. 2/1, R.Y.16, Old Queens Road, Karachi-74000
Mr.Arif Habib(Chairman) Allied Bank Ltd. Habib Bank Ltd.
Mr. Fazalullah Shaikh(Chief Executive) Arif Habib Bank Ltd. M/S Hyder Bhimji & Co.
Mr. Haji Ghani Haji Usman(Director) National Bank of Pakistan.
Mr. Samad A. Habib(Director) MCB Bank Ltd.
Mr. Kashif A. Habib(Director) United Bank Ltd.
Mr. Shahid Ali Habib(Director)
Mr.Saleem Chamdia(Director)

Clinker M. Tons 360,000 346,537
519
Zeal Pak Cement Factory Ltd.
7th Floor, PIC Tower, 32-A, Lalazar Drive, Molvi Tamizuddin Khan Road, Karachi.
Mr. Mazar Ali Jatoi(Chairman) Allied Bank Of Pakistan Ltd. M/s. Hamid Khan & Co.
Mr. Jehangir Akbar(Chief Executive) Bank of Punjab Ltd.
Mr. Muhammad Moosa(Director) MCB Bank Ltd
Mr. Mushtaq Ali Shah Bukhari(Director) National Bank of Pakistan.
Mr. Ashraf Ali Jatoi(Director) Prime Commercial Bank Ltd.
Mr. Nawab Ali Jatoi(Director) Meezan Bank Ltd.
Mr. Nawab Ahmed Khanzada(Director)

Cement M.Tons 1,755,000 87,745
Bages No.s 15,000,000 1,103,775
520
FUEL & ENERGY SECTOR
Fuel And Energy Sector (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 58359.4 97082.9 161779.1 169210.5 159524.5 182848.3
5.Debentures 2248.7 1456.7 416.3 535.7 3329.1 1087.1
B.Liquidity:
1.Liquid Assets: 34042.2 69922.7 109730.0 138826.3 117716.9 146891.0
(i)Cash 28756.0 62795.8 97213.3 80666.3 67734.8 87109.5
(ii)Investments 5286.2 7126.9 12516.7 58160.0 49982.1 59781.5
3.Inventories 18979.1 38684.8 41507.1 60391.5 72234.4 125742.8
C.Fixed Assets:
4.Total assets (B4+C2) 314494.5 442493.7 566803.8 668003.6 754661.5 992308.9
D.Operation:
1.Gross sales 567179.3 655890.1 953328.3 1296578.6 1445910.5 1846352.7
(i)Local sales 560123.6 648419.8 940811.9 1275004.3 1420543.9 1814047.5
(ii)Export sales 7055.7 7470.3 12516.4 21574.3 25366.6 32305.2
2.Cost of Sales 523154.3 571059.8 820076.3 1136150.4 1285235.1 1604108.9
3.Gross profit 44025.0 84830.3 133252.0 160428.2 160675.4 242243.8
8.Tax provision 7140.7 14405.1 28930.0 39643.5 35364.5 54682.5
F.Cash Flow Data
523
Fuel & Energy

250
200
150
%
100
50
0
2003 2004 2005 2006 2007 2008
25 25
20 20
15
Rupees
15
%
10
10
5
5
0
2003 2004 2005 2006 2007 2008 0
2003 2004 2005 2006 2007 2008
524
Altern Energy Limited (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 41.9 -0.8 -102.9 -219.0 3769.9 4261.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 12.9 15.4 9.2 56.3 1740.9 1072.3
(i)Cash 12.9 15.4 9.2 56.3 1740.9 1072.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 277.2 355.0
C.Fixed Assets:
4.Total assets (B4+C2) 506.9 480.5 454.0 621.6 28225.8 30669.7
D.Operation:
1.Gross sales 166.2 95.1 24.8 0.0 0.0 11402.9
(i)Local sales 166.2 95.1 24.8 0.0 0.0 11402.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 95.5 95.5 77.1 38.1 37.2 8515.7
3.Gross profit 70.7 -0.4 -52.3 -38.1 -37.2 2887.2
5.Operating profit 71.2 -25.7 -89.6 -69.5 -48.9 2870.4
7.Net profit before tax (D5-D6) 46.3 -46.6 -101.5 -113.3 -73.2 1131.2
8.Tax provision 0.0 0.0 0.0 1.6 0.5 0.5
2.Retention in business (D7-D8-D9) 46.3 -46.6 -101.5 -114.9 -73.7 1130.7
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 94.7 -2.6 -62.1 -79.4 625.9 2296.8
5.Return on assets (D7 as % of C4) 9.1 -9.7 -22.4 -18.2 -0.3 3.7
10.Financial expenses as % of operating profit (D6 as % of D5) 35.0 - - -63.0 -49.7 60.6
15.Return on Equity (D7 as % of A3) 17.6 -21.2 -85.9 -5665.0 -1.0 14.7
3.Net profit margin (D7 as % of D1) 27.9 -49.0 -409.3 0.0 0.0 9.9
4.Earning per share before tax (D7/No. of ordinary shares) 2.1 -2.1 -4.6 -5.1 -0.2 3.3
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 2.1 -2.1 -4.6 -5.2 -0.2 3.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 1345.2 -42.8 -73.9 -100.0 - -
525
Attock Petroleum Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - - 613.1 1645.7 3054.3 5055.8
5.Debentures - - 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - - 1357.9 2634.2 4268.8 7157.4
(i)Cash - - 1267.1 2280.9 4066.8 6117.9
(ii)Investments - - 90.8 353.3 202.0 1039.5
3.Inventories - - 110.1 74.2 341.7 299.1
C.Fixed Assets:
4.Total assets (B4+C2) - - 2447.9 6584.1 8983.7 15513.4
D.Operation:
1.Gross sales - - 11217.0 46223.8 49965.9 60130.1
(i)Local sales - - 11217.0 46223.8 49965.9 60130.1
(ii)Export sales - - 0.0 0.0 0.0 0.0
2.Cost of Sales - - 10786.0 44411.9 47920.9 57381.7
3.Gross profit - - 431.0 1811.9 2045.0 2748.4
7.Net profit before tax (D5-D6) - - 559.9 1945.6 2435.7 3529.6
8.Tax provision - - 167.0 553.0 723.0 924.0
2.Retention in business (D7-D8-D9) - - 192.9 912.6 1152.7 1645.6
3.Finance from outside the company (E1-E2) - - - 120.0 255.9 435.9
F.Cash Flow Data
5.Return on assets (D7 as % of C4) - - 22.9 29.5 27.1 22.8
3.Net profit margin (D7 as % of D1) - - 5.0 4.2 4.9 5.9
4.Earning per share before tax (D7/No. of ordinary shares) - - 14.0 48.6 60.9 73.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - 9.8 34.8 42.8 54.3
526
Attock Refinery Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 2975.2 3195.0 4457.9 4677.0 5133.4 10911.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2437.5 3318.0 7889.6 16654.5 18141.4 32080.2
(i)Cash 2173.9 3308.7 5480.6 8031.6 8880.1 18944.6
(ii)Investments 263.6 9.3 2409.0 8622.9 9261.3 13135.6
3.Inventories 1188.3 1738.6 2100.6 3523.8 3852.6 4844.9
C.Fixed Assets:
4.Total assets (B4+C2) 9662.0 12354.2 18367.8 29096.3 32187.8 50081.3
D.Operation:
1.Gross sales 27200.9 29512.2 47493.4 70001.3 74316.6 93654.3
(i)Local sales 24693.1 26796.3 44118.2 61488.3 66083.8 82828.7
(ii)Export sales 2507.8 2715.9 3375.2 8513.0 8232.8 10825.6
2.Cost of Sales 26596.8 28580.6 44944.2 69429.6 73462.6 89646.4
3.Gross profit 604.1 931.6 2549.2 571.7 854.0 4007.9
8.Tax provision 291.2 433.4 926.9 400.0 476.5 1054.1
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] 185.2 120.1 1082.8 0.0 -66.3 322.4
527
Bosicor Pakistan Limited. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - -13.9 105.1 290.2 2583.9 1168.6
5.Debentures - 291.0 0.0 535.7 321.4 107.1
B.Liquidity:
1.Liquid Assets: - 81.2 300.9 2189.8 2088.9 7906.5
(i)Cash - 81.2 300.9 2189.8 1788.9 7906.5
(ii)Investments - 0.0 0.0 0.0 300.0 0.0
3.Inventories - 924.2 1812.3 3909.4 5177.4 11934.2
7.Net Current Assets(B4-B5) - 675.5 102.4 22.2 98.7 -2541.4
C.Fixed Assets:
4.Total assets (B4+C2) - 5149.5 6870.4 11099.9 15228.5 32050.9
D.Operation:
1.Gross sales - 0.0 11522.1 21633.6 23349.6 40092.1
(i)Local sales - 0.0 11522.1 21201.3 22435.6 40092.1
(ii)Export sales - 0.0 0.0 432.3 914.0 0.0
2.Cost of Sales - 0.0 11130.6 21008.9 23422.1 37950.2
3.Gross profit - 0.0 391.5 624.7 -72.5 2141.9
5.Operating profit - 0.0 288.7 587.0 -222.5 681.2
7.Net profit before tax (D5-D6) - 0.0 182.4 301.4 -628.1 184.0
8.Tax provision - 0.0 50.0 89.6 96.9 179.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - 222.5 364.9 2744.7 -462.7
2.Retention in business (D7-D8-D9) - 0.0 132.4 211.8 -725.0 5.0
3.Finance from outside the company (E1-E2) - - 90.1 153.1 3469.7 -467.7
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - 5.7 469.9 537.4 -505.1 254.3
2.Depreciation for the year plus changes in capital employed (C3+E1) - - 560.0 690.5 2964.6 -213.4
5.Return on assets (D7 as % of C4) - 0.0 2.7 2.7 -4.1 0.6
7.Cash flow ratio F1 as % of F2 - 0.0 83.9 77.8 -17.0 -119.2
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - 27.4 29.7 -15.4 97.3
15.Return on Equity (D7 as % of A3) - 0.0 7.1 11.0 -12.5 3.6
3.Net profit margin (D7 as % of D1) - - 1.6 1.4 -2.7 0.5
4.Earning per share before tax (D7/No. of ordinary shares) - 0.0 0.7 1.2 -2.6 0.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - 0.0 0.5 0.9 -3.0 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - 0.0 71.4 -316.7 -119.2
528
Generteck Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 53.5 68.4 -14.5 -163.6 -163.6 -349.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.5 5.0 0.8 2.4 2.4 1.2
(i)Cash 1.5 5.0 0.8 2.4 2.4 1.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 30.3 0.0 24.6 9.1 9.1 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 894.3 861.0 807.3 697.0 697.0 571.5
D.Operation:
1.Gross sales 626.2 663.9 597.1 104.0 104.0 36.7
(i)Local sales 626.2 663.9 597.1 104.0 104.0 36.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 589.5 595.8 626.2 175.1 175.1 82.2
3.Gross profit 36.7 68.1 -29.1 -71.1 -71.1 -45.5
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
3.Finance from outside the company (E1-E2) 136.5 -5.8 -91.7 -65.6 137.0 -135.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -67.3 162.4 - 67.6 0.0 39.3
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 0.0 - 0.0 0.0 0.0
15.Return on Equity (D7 as % of A3) -21.8 5.7 -45.2 -398.3 -398.3 0.0
529
Ideal Energy Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 164.8 173.2 165.0 141.6 132.8 116.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 8.9 15.1 2.9 2.2 1.5 3.3
(i)Cash 8.9 15.1 2.9 2.2 1.5 3.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 32.2 10.9 5.3 5.5 5.6 6.4
C.Fixed Assets:
4.Total assets (B4+C2) 332.3 320.5 304.2 230.5 215.8 203.9
D.Operation:
1.Gross sales 334.9 247.2 208.3 9.7 7.2 32.5
(i)Local sales 334.9 247.2 208.3 9.7 7.2 32.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 295.8 217.8 211.1 24.0 13.3 45.5
3.Gross profit 39.1 29.4 -2.8 -14.3 -6.1 -13.0
8.Tax provision 0.0 0.0 0.1 0.0 0.0 0.0
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 12.8 -26.2 -15.7 -95.3 -25.8 351.4
530
Japan Power Generation Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -828.5 -914.8 -994.9 -576.4 -937.2 -1015.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 85.0 6.1 4.9 4.0 7.7 20.9
(i)Cash 85.0 6.1 4.9 4.0 7.7 20.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 53.4 56.0 70.0 208.9 93.2 131.7
C.Fixed Assets:
4.Total assets (B4+C2) 6536.4 6313.8 6233.8 7137.6 6997.3 7116.1
D.Operation:
1.Gross sales 2272.8 2019.9 2194.8 3517.0 4018.2 4499.1
(i)Local sales 2272.8 2019.9 2194.8 3517.0 4018.2 4499.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1859.3 1636.0 1818.8 3155.5 3739.8 4214.1
3.Gross profit 413.5 383.9 376.0 361.5 278.4 285.0
8.Tax provision 0.6 1.3 0.2 0.3 0.2 0.6
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -403.3 -79.1 -393.0 617.0 -288.8 -172.8
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -72.6 144.5 147.7 -31.7 36.8 70.1
7.Cash flow ratio F1 as % of F2 - 91.3 - -3.7 -104.0 116.6
531
Karachi Electric Supply Corporation Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -8636.6 -3807.7 -7976.8 -16804.5 -28911.7 -45180.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4250.5 4599.5 2445.8 2725.2 4545.0 2434.4
(i)Cash 4195.0 4544.0 2445.8 1834.7 3937.3 2334.1
(ii)Investments 55.5 55.5 0.0 890.5 607.7 100.3
3.Inventories 0.0 0.0 0.0 0.0 4668.1 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 64970.7 62505.8 60038.8 65531.4 77321.0 93043.7
D.Operation:
1.Gross sales 35620.3 36721.3 38603.2 41617.7 44859.5 49808.5
(i)Local sales 35620.3 36721.3 38603.2 41617.7 44859.5 49808.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 45101.7 41194.5 46978.0 52034.7 51960.7 51462.4
3.Gross profit -9481.4 -4473.2 -8374.8 -10417.0 -7101.2 -1653.9
8.Tax provision 167.8 187.9 199.1 212.9 227.5 252.6
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -5153.7 4244.9 -8734.6 -3854.3 -8855.4 -12496.9
7.Cash flow ratio F1 as % of F2 -57.1 52.6 - 71.2 282.8 282.1
532
Kohinoor Energy Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 2359.0 2764.1 3122.0 3797.2 4629.2 4861.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1233.2 1066.8 873.4 628.9 398.0 139.3
(i)Cash 1233.2 1066.8 873.4 628.9 398.0 139.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 120.0 121.1 130.7 144.6 209.4 85.6
C.Fixed Assets:
4.Total assets (B4+C2) 7142.0 6854.6 6765.9 6728.4 7187.0 7348.8
D.Operation:
1.Gross sales 2545.9 2477.4 2918.6 5506.1 5333.1 7387.9
(i)Local sales 2545.9 2477.4 2918.6 5506.1 5333.1 7387.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1506.9 1406.1 1879.0 4271.5 4180.6 6432.2
3.Gross profit 1039.0 1071.3 1039.6 1234.6 1152.5 955.7
8.Tax provision 12.7 6.3 7.9 9.8 7.1 659.7
F.Cash Flow Data
533
Kohinoor Power Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 284.0 279.7 254.2 149.0 201.4 225.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.2 0.5 0.5 0.7 0.6 5.4
(i)Cash 1.2 0.5 0.5 0.7 0.6 5.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 3.0 4.3 12.6 10.9 7.3 11.0
C.Fixed Assets:
4.Total assets (B4+C2) 726.5 744.5 735.1 674.8 593.0 383.2
D.Operation:
1.Gross sales 399.6 247.9 243.5 278.1 146.6 405.6
(i)Local sales 399.6 247.9 243.5 278.1 146.6 405.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 386.5 241.3 269.0 382.7 186.6 375.8
3.Gross profit 13.1 6.6 -25.5 -104.6 -40.0 29.8
7.Net profit before tax (D5-D6) 8.5 0.5 -26.0 -101.2 -36.8 24.1
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
2.Retention in business (D7-D8-D9) 8.5 0.5 -26.0 -101.2 -36.8 24.1
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 1.2 0.1 -3.5 -15.0 -6.2 6.3
6.Self financing ratio (E2 as % of E1) - - - 96.2 -12.2 -10.7
7.Cash flow ratio F1 as % of F2 - - - 95.6 -7.0 -18.2
15.Return on Equity (D7 as % of A3) 2.1 0.1 -6.9 -37.6 -11.4 7.0
3.Net profit margin (D7 as % of D1) 2.1 0.2 -10.7 -36.4 -25.1 5.9
4.Earning per share before tax (D7/No. of ordinary shares) 0.7 0.0 -2.2 -8.4 -3.1 2.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.7 0.0 -2.2 -8.4 -3.1 2.0
534
Kot Addu Power Co. Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - - 13742.5 11319.1 10058.2 12523.1
5.Debentures - - 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - - 3762.5 4366.1 209.0 179.4
(i)Cash - - 3762.5 4366.1 209.0 179.4
(ii)Investments - - 0.0 0.0 0.0 0.0
3.Inventories - - 2621.8 1129.7 1759.5 2191.6
7.Net Current Assets(B4-B5) - - 7684.1 -2634.2 -2404.3 1503.0
C.Fixed Assets:
4.Total assets (B4+C2) - - 36729.7 34277.6 38928.4 56962.1
D.Operation:
1.Gross sales - - 29920.8 32833.4 37086.7 55947.1
(i)Local sales - - 29920.8 32833.4 37086.7 55947.1
(ii)Export sales - - 0.0 0.0 0.0 0.0
2.Cost of Sales - - 20184.3 22998.3 28343.3 46600.5
3.Gross profit - - 9736.5 9835.1 8743.4 9346.6
8.Tax provision - - 41.0 116.0 2491.7 2601.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - -11277.2 -1260.9 2495.8
2.Retention in business (D7-D8-D9) - - 4306.7 1350.5 -189.5 661.1
3.Finance from outside the company (E1-E2) - - - -12627.7 -1071.4 1834.7
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - -9687.3 327.7 4054.0
7.Cash flow ratio F1 as % of F2 - - 0.0 -30.4 426.9 54.7
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - 820.0 6.5 -12.2 7.0
535
Mari Gas Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 2950.4 2129.5 1111.6 2244.8 2811.7 2519.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1866.9 2083.6 2940.0 3165.3 2829.2 2214.6
(i)Cash 1866.9 2083.6 2940.0 3165.3 2829.2 2214.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 6727.9 7058.9 6637.4 8147.6 8602.4 9278.5
D.Operation:
1.Gross sales 12482.5 14257.3 15937.1 19651.9 22211.1 21566.3
(i)Local sales 12482.5 14257.3 15937.1 19651.9 22211.1 21566.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 10350.5 11839.5 13579.9 17191.7 18993.7 15706.3
3.Gross profit 2132.0 2417.8 2357.2 2460.2 3217.4 5860.0
8.Tax provision 177.5 267.5 472.8 516.5 902.2 1560.8
3.Finance from outside the company (E1-E2) 1019.9 -1603.7 -1335.3 936.9 93.1 -2073.0
F.Cash Flow Data
536
National Refinery Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 3411.5 4444.0 6252.5 8699.7 12061.9 16607.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 522.7 1714.8 7844.2 7761.1 11492.2 16737.5
(i)Cash 522.7 1714.8 7844.2 7761.1 11492.2 13122.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 3615.4
3.Inventories 2802.1 3639.9 3205.9 6475.2 7687.4 13288.3
C.Fixed Assets:
4.Total assets (B4+C2) 12568.9 16883.5 18411.3 24912.0 32623.5 46592.7
D.Operation:
1.Gross sales 41327.0 46265.6 69141.5 96635.0 109146.0 146233.2
(i)Local sales 36779.0 41511.2 60000.3 84005.9 92926.2 124753.7
(ii)Export sales 4548.0 4754.4 9141.2 12629.1 16219.8 21479.5
2.Cost of Sales 39245.1 43309.1 65305.5 91636.2 102882.2 135552.5
3.Gross profit 2081.9 2956.5 3836.0 4998.8 6263.8 10680.7
8.Tax provision 714.3 982.4 1279.9 1745.6 2003.1 2917.2
F.Cash Flow Data
537
Oil & Gas Development Corp. (OGDC) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - 30109.5 41544.5 49209.9 28857.4 29554.1
5.Debentures - 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - 26435.1 40236.3 35126.6 7666.2 9890.1
(i)Cash - 25307.4 37799.2 1186.9 4720.3 6715.0
(ii)Investments - 1127.7 2437.1 33939.7 2945.9 3175.1
3.Inventories - 8086.0 32.4 65.6 93.8 151.8
7.Net Current Assets(B4-B5) - 33402.7 41303.1 50312.3 43900.8 41665.2
9.Net liquid assets (B1-B5) - 3627.6 10211.1 8582.2 -21055.3 -31306.9
C.Fixed Assets:
4.Total assets (B4+C2) - 95926.3 114578.9 118763.5 100588.2 113760.4
D.Operation:
1.Gross sales - 51326.3 86056.7 113384.4 117134.4 139626.3
(i)Local sales - 51326.3 86056.7 113384.4 117134.4 139626.3
(ii)Export sales - 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales - 16243.8 35605.5 47458.8 47593.1 52124.1
3.Gross profit - 35082.5 50451.2 65925.6 69541.3 87502.2
8.Tax provision - 7364.5 13414.4 19073.9 14616.0 21039.8
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - 11435.0 7665.4 -20352.5 696.7
3.Finance from outside the company (E1-E2) - - 1634.9 -309.5 -27782.7 -15712.1
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) - - 16894.4 13620.6 -17118.0 4050.8
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - 60.6 34.2 -7.8 29.1
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - 67.7 31.8 3.3 19.2
538
Pakistan Oilfields Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 6973.7 6182.7 9969.3 12653.3 17505.0 23398.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4616.4 5946.8 7916.5 12259.0 11908.0 17639.6
(i)Cash 3986.1 5062.5 5240.2 3923.8 3173.3 7424.7
(ii)Investments 630.3 884.3 2676.3 8335.2 8734.7 10214.9
3.Inventories 14.7 20.7 30.2 62.8 69.2 57.6
C.Fixed Assets:
4.Total assets (B4+C2) 10734.0 12703.5 15840.0 23241.2 25020.4 32867.9
D.Operation:
1.Gross sales 7670.2 7753.8 10081.0 17732.1 16331.1 18722.4
(i)Local sales 7670.2 7753.8 10081.0 17732.1 16331.1 18722.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 4332.9 4732.4 4690.0 9143.4 7794.6 8087.5
3.Gross profit 3337.3 3021.4 5391.0 8588.7 8536.5 10634.9
8.Tax provision 1141.4 859.0 896.0 2011.9 1457.0 2479.2
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -41.1 46.9 9.6 1.2 16.5
539
Pakistan Petroleum Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - - 16782.6 23965.6 33089.4 35929.2
5.Debentures - - 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - - 11317.4 17635.3 22980.7 23844.4
(i)Cash - - 10665.6 17326.9 787.4 1094.9
(ii)Investments - - 651.8 308.4 22193.3 22749.5
3.Inventories - - 0.0 0.0 1474.7 0.0
9.Net liquid assets (B1-B5) - - 3304.2 7579.2 12778.8 6553.0
C.Fixed Assets:
4.Total assets (B4+C2) - - 31716.2 40959.5 50218.9 60842.5
D.Operation:
1.Gross sales - - 32815.9 43565.3 51079.7 57884.7
(i)Local sales - - 32815.9 43565.3 51079.7 57884.7
(ii)Export sales - - 0.0 0.0 0.0 0.0
2.Cost of Sales - - 19146.6 23724.4 26538.4 28378.3
3.Gross profit - - 13669.3 19840.9 24541.3 29506.4
8.Tax provision - - 4796.2 6436.5 8015.1 9366.7
3.Finance from outside the company (E1-E2) - - - -2780.7 -4141.7 -5852.3
F.Cash Flow Data
540
Pakistan Refinery Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 755.2 1387.4 3097.9 4301.5 4483.7 6441.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 151.8 5.2 249.6 2413.7 1954.1 2704.7
(i)Cash 150.9 4.3 248.7 2363.1 1698.3 2646.1
(ii)Investments 0.9 0.9 0.9 50.6 255.8 58.6
3.Inventories 1691.3 2441.4 2040.9 3843.6 5107.8 9102.1
C.Fixed Assets:
4.Total assets (B4+C2) 4796.6 6189.1 7656.4 12004.3 14665.1 23758.0
D.Operation:
1.Gross sales 28516.7 28670.4 44442.1 71991.2 67385.9 107300.8
(i)Local sales 28516.7 28670.4 44442.1 71991.2 67385.9 107300.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 27111.6 27357.3 41505.3 69589.7 66610.0 102969.0
3.Gross profit 1405.1 1313.1 2936.8 2401.5 775.9 4331.8
8.Tax provision 442.1 0.0 878.5 726.6 288.4 1153.2
F.Cash Flow Data
541
Pakistan State Oil Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 12123.5 13350.5 16776.7 18943.1 19097.8 29144.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3278.9 3479.3 4006.4 5177.9 4512.9 5719.7
(i)Cash 1228.2 1583.1 1921.9 1898.9 1522.3 3018.6
(ii)Investments 2050.7 1896.2 2084.5 3279.0 2990.6 2701.1
3.Inventories 8310.9 14970.6 20583.3 28168.6 29562.1 62360.1
C.Fixed Assets:
4.Total assets (B4+C2) 32254.0 42291.4 51933.9 70013.7 74611.2 127004.5
D.Operation:
1.Gross sales 206376.0 195109.7 254363.0 353833.3 411990.0 583214.0
(i)Local sales 206376.0 195109.7 254363.0 353833.3 411990.0 583214.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 197420.8 185939.1 240616.7 336626.1 399730.5 553190.3
3.Gross profit 8955.2 9170.6 13746.3 17207.2 12259.5 30023.7
8.Tax provision 1949.5 2030.0 3236.9 4335.7 2483.7 7392.7
F.Cash Flow Data
542
S.G. Power Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 136.0 159.5 174.1 138.4 124.0 104.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.6 14.8 1.7 9.1 0.1 0.1
(i)Cash 0.6 14.8 1.7 9.1 0.1 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 396.4 398.1 422.0 343.3 314.2 292.4
D.Operation:
1.Gross sales 181.2 191.9 184.9 200.1 64.8 0.0
(i)Local sales 181.2 191.9 184.9 200.1 64.8 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 150.2 161.2 171.8 220.3 78.6 16.3
3.Gross profit 31.0 30.7 13.1 -20.2 -13.8 -16.3
8.Tax provision 0.4 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
543
Shell Gas Lpg (Pakistan) Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 112.5 102.2 176.7 166.3 115.0 -33.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 55.8 145.6 7.5 77.4 5.2 52.6
(i)Cash 18.8 26.0 7.5 40.4 5.2 52.6
(ii)Investments 37.0 119.6 0.0 37.0 0.0 0.0
3.Inventories 8.0 11.8 11.3 17.2 71.2 22.1
C.Fixed Assets:
4.Total assets (B4+C2) 574.5 575.9 676.1 877.5 846.1 827.9
D.Operation:
1.Gross sales 721.2 865.5 998.5 1673.9 1753.4 1295.2
(i)Local sales 721.2 865.5 998.5 1673.9 1753.4 1295.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 599.0 680.3 806.1 1469.6 1642.3 1256.4
3.Gross profit 122.2 185.2 192.4 204.3 111.1 38.8
8.Tax provision 18.9 31.7 28.7 17.0 7.6 5.6
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 152.5 - 80.0 117.3 -304.5 -416.4
544
Shell Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 5516.6 5781.9 8037.4 9637.9 8893.7 13053.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2952.7 2443.6 2629.1 2858.2 2830.0 3007.2
(i)Cash 1075.7 566.6 752.1 981.2 814.5 872.4
(ii)Investments 1877.0 1877.0 1877.0 1877.0 2015.5 2134.8
3.Inventories 2827.0 4537.0 6608.2 9979.9 8244.1 18095.5
C.Fixed Assets:
4.Total assets (B4+C2) 12945.5 15344.1 20323.1 28134.0 29192.7 39654.4
D.Operation:
1.Gross sales 89448.5 90663.5 112043.4 133636.6 131040.2 159066.8
(i)Local sales 89448.5 90663.5 112043.4 133636.6 131040.2 159066.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 83675.2 84456.3 103201.4 124233.1 125266.8 143916.6
3.Gross profit 5773.3 6207.2 8842.0 9403.5 5773.4 15150.2
8.Tax provision 633.4 609.8 1281.4 1461.7 89.8 2053.7
F.Cash Flow Data
545
Sitara Energy Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 767.6 810.1 769.7 776.7 777.9 865.0
5.Debentures 0.0 0.0 0.0 0.0 20.0 980.0
B.Liquidity:
1.Liquid Assets: 53.0 62.6 56.1 57.2 53.0 26.2
(i)Cash 3.0 12.6 6.1 7.2 3.0 26.2
(ii)Investments 50.0 50.0 50.0 50.0 50.0 0.0
3.Inventories 80.1 35.6 112.1 45.2 41.6 169.3
C.Fixed Assets:
4.Total assets (B4+C2) 1275.8 1391.7 1748.0 2095.7 2861.5 3299.9
D.Operation:
1.Gross sales 1141.4 1121.9 1340.3 1558.6 1691.9 2644.0
(i)Local sales 1141.4 1121.9 1340.3 1558.6 1691.9 2644.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 974.6 984.0 1321.0 1453.9 1515.6 2276.9
3.Gross profit 166.8 137.9 19.3 104.7 176.3 367.1
8.Tax provision 0.3 0.2 0.3 0.3 0.3 0.4
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] 190.4 189.1 -84.7 0.0 0.0 195.0
546
Southern Electric Power Co. Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 912.4 1022.8 1086.8 1107.8 812.6 514.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 62.4 9.3 11.4 21.8 99.3 41.2
(i)Cash 62.4 9.3 11.4 21.8 99.3 41.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 106.5 81.2 156.1 55.3 75.4 34.7
C.Fixed Assets:
4.Total assets (B4+C2) 7586.8 7341.3 7509.4 7705.1 7797.5 7964.1
D.Operation:
1.Gross sales 2555.0 2261.3 2798.1 4240.6 4415.6 3989.3
(i)Local sales 2555.0 2261.3 2798.1 4240.6 4415.6 3989.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1722.2 1586.2 2319.2 3691.2 4163.2 3712.1
3.Gross profit 832.8 675.1 478.9 549.4 252.4 277.2
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -55.5 -223.8 -268.8 338.5 -505.3 418.3
547
Sui Northern Gas Pipelines Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 9453.0 6603.2 18030.0 10110.1 10780.7 11618.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3042.1 9353.4 8320.0 15405.4 13551.2 8653.1
(i)Cash 2996.0 8519.6 8315.1 15400.5 13546.2 8137.1
(ii)Investments 46.1 833.8 4.9 4.9 5.0 516.0
3.Inventories 184.2 275.8 346.4 445.8 473.4 525.4
C.Fixed Assets:
4.Total assets (B4+C2) 47300.5 56924.7 65076.4 77229.9 83633.1 97618.2
D.Operation:
1.Gross sales 45649.5 74005.6 97487.7 107897.3 137187.4 124155.0
(i)Local sales 45649.5 74005.6 97487.7 107897.3 137187.4 124155.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 34538.8 62427.1 85302.7 94032.5 123778.6 109107.5
3.Gross profit 11110.7 11578.5 12185.0 13864.8 13408.8 15047.5
8.Tax provision 754.6 802.3 1054.2 1515.7 1107.6 626.3
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - - 20.1 -22.3 -1279.7 48.5
548
Sui Southern Gas Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 4030.4 5119.5 4441.1 4477.8 2965.1 3533.8
5.Debentures 2248.7 1165.7 416.3 0.0 2987.7 0.0
B.Liquidity:
1.Liquid Assets: 2779.9 3245.3 1435.7 4071.8 5504.4 4513.9
(i)Cash 2629.1 3040.8 1269.2 3814.6 5267.6 4356.4
(ii)Investments 150.8 204.5 166.5 257.2 236.8 157.5
3.Inventories 219.2 198.4 227.3 281.4 368.9 512.4
C.Fixed Assets:
4.Total assets (B4+C2) 30235.8 31836.8 37621.5 47023.4 61857.7 71633.4
D.Operation:
1.Gross sales 41572.3 54444.6 62511.7 77562.3 85716.7 86829.3
(i)Local sales 41572.3 54444.6 62511.7 77562.3 85716.7 86829.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 34796.5 48358.0 56621.7 70853.1 79789.4 79425.2
3.Gross profit 6775.8 6086.6 5890.0 6709.2 5927.3 7404.1
8.Tax provision 833.2 825.5 197.4 417.1 370.2 415.5
F.Cash Flow Data
549
The Hub Power Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 14459.1 18076.1 20097.6 18408.2 17475.5 16896.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6478.1 5803.8 6038.1 3363.3 742.9 662.2
(i)Cash 6478.1 5803.8 6038.1 3363.3 742.9 662.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 1268.2 1513.8 1251.0 1890.9 2563.8 1564.2
C.Fixed Assets:
4.Total assets (B4+C2) 55546.0 51772.8 46628.0 43509.9 44988.4 62694.3
D.Operation:
1.Gross sales 19513.7 16678.1 17909.5 30915.7 49575.0 70428.6
(i)Local sales 19513.7 16678.1 17909.5 30915.7 49575.0 70428.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 11022.0 8781.9 10752.5 26557.3 45411.2 65678.7
3.Gross profit 8491.7 7896.2 7157.0 4358.4 4163.8 4749.9
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - - 550.6 -224.5 -397.8 1649.7
550
Tri-Star Power Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 37.8 37.8 37.8 96.5 122.6 122.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 66.0 66.0 66.0 152.3 183.4 183.4
(i)Cash 0.3 0.3 0.3 0.0 0.0 0.0
(ii)Investments 65.7 65.7 65.7 152.3 183.4 183.4
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 188.5 188.5 188.5 249.2 275.5 275.5
D.Operation:
1.Gross sales 0.0 8.0 8.0 0.0 0.0 0.0
(i)Local sales 0.0 8.0 8.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 8.0 0.0 0.0 5.3 4.8 4.8
3.Gross profit -8.0 8.0 8.0 -5.3 -4.8 -4.8
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -13.0 3.0 3.0 -0.5 -0.4 -0.4
6.Self financing ratio (E2 as % of E1) - - - -9.7 -6.0 -6.0
7.Cash flow ratio F1 as % of F2 -162.5 37.5 37.5 -0.8 -0.4 -0.4
3.Net profit margin (D7 as % of D1) - -62.5 -62.5 0.0 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - 0.0 -100.0 -100.0 -100.0
551
Altern Energy Limited
Descon Headquarter, 18-KM Ferozpur Road, Lahore.
Mr. Abdul Razzak Dawood(Chairman) Bank Al-Falah Ltd. M/s. Yousuf Saeed & Co.
Mr. Sabeeh ud-din Farooqi(Chief Executive) Bank of Punjab Ltd.
Mr. Khalid Salman Khan(Director) MCB Bank Ltd.
Syed Zamanat Abbas(Director) Habib Bank Ltd.
Shaikh Azhar Ali(Director) Standard Chartered Bank ( Pakistan) Ltd.
Syed Ali Nazir Kazmi(Director)
Shah Muhammad Chowdhary(Director)

Power generation GWH 2969 2899
Attock Petroleum Ltd.

6, Faisal Avenue, F-7/1, Islamabad.
Dr. Ghaith R. Pharaon(Chairman) Allied Bank Ltd. M/s. A. F. Fergusan & Co.
Mr. Shuaib A. Malik(Chief Executive) Habib Bank Ltd.
Mr. Laith G. Pharaon(Director) Faysal Bank Ltd.
Mr. Wale G. Pharaon(Director) National Bank of Pakistan.
Mr. M. Adil Khattak(Director) My Bank Ltd.
Mr. Babar Bashir Nawaz(Director) NIB Bank Ltd.
Mr. Munaf Ibrahim(Director) Saudi Pak Commercial Bank Ltd.

Oil distribution Indeterminable
552
Attock Refinery Ltd.
The Refinery, Morgah, Rawalpindi.
Mr. Tariq Iqbal Khan(Chairman) Faysal Bank Ltd. M/s. A. F. Ferguson & Co.
Mr. Adil Khattak(Chief Executive) Habib Bank Ltd.
Mr. Shuaib Anwar Malik(Deputy Chairman) MCB Bank Ltd.
Mr. Wael Ghaith Pharaon(Director) Saudi Pak Leasing Co. Ltd.
Mr. Bashir Ahmad(Director) United Bank Ltd.
Mr. Laith Ghaith Pharaon(Director)
Dr. Ghaith R. Pharaon(Director)

Refining crude oil million US barrel 14,320 14,901
Bosicor Pakistan Limited.

2nd Floor, Business Plaza, Mumtaz Hussain Road, Karachi.
Mr. Amir Abbassciy(Chairman) Bank Alfalah Ltd. M/S Faruq Ali & Co.
Mr. Mohammad Wasi Khan(President / C.E.O.) Habib Bank Ltd.
Mr. Hamid Imtiaz Hanfi(Director) Allied Bank Ltd.
Mr. Muhammad Rashid Zahir(Director) Bankislami Pakistan Ltd.
Syed Arshad Raza(Director) Habib Metropolitan Bank Limted
Mrs. Uzma Abbassciy(Director)
Mrs. Saima Roomi(Director)

Oil refining US barrels (in thous.) 7,020 6,188
553
Generteck Pakistan Ltd.
31/C-1, Ghalib Road, Gulberg-III, Lahore.
Mr. Jahangir Elahi(Chairman / C.E.O.) Faysal Bank Ltd. M/S Zahid Jamil & Co.
Mr. Tanvir Elahi(Director) MCB Bank Ltd.
Mr. Amir Jahangir(Director) The Bank Of Punjab
Mr. Muhammad Ashfaq Nadeem(Director) United Bank Ltd.
Mr. Shahrukh Elahi(Director)
Mr. Tariq Latif(Director)
Sheikh Muhammad Ashraf(Director)

Power generation MWH 167141 19535
Ideal Energy Ltd.

404, 4th Floor, Business Centre, Dunnally Road, Karachi.
Mr. Nisar Ahmed Shaikh(Chairman) Faysal Bank Ltd. M/s. Riaz Ahmed & Co.
Mr. Muhammad Arshad Shaikh(Chief Executive) Habib Bank Ltd.
Mr. Amjad Saeed(Director)
Mr. Muhammad Anwar Sajjad(Director)
Mr. Muhammad Saeed(Director)
Mr. Shahzad Ahmed(Director)
Mrs. Noureen Shahzad(Director)

Power generation Mega Watt hours 96,480 3,932
554
Japan Power Generation Ltd.
Near Jia Bagga Railway Station, Off. Raiwind Road, Chowk Araian, Lahore.
Maj. Gen. Imtiaz Ahmad(Chairman) Saudi Pak Comm. Bank Ltd. M/S Hyder Bhimji & Co.
Mr. Nadeem Babar(Chief Executive) Askari Bank Ltd.
Syed Mujahid Hussain Naqvi(Director) RBS Bank Ltd.
Mr. Abdul Jaleel Shaikh(Director) National Bank of Pakistan.
Mr. Muhammad Hanif Abbasi (NBP)(Director) Faysal Bank Ltd.
Brig. Shahjahan Ali Khan(Director) Allied Bank Ltd.
Mr. Saeed-ur-Rehman(Director) Samba Bank Limited

Power generation MWH 1,054,584 506,924
Karachi Electric Supply Corporation Ltd.

2nd Floor, Pakistan Handicraft Building, Abdullah Haroon Road, Karachi
Mr. Abdulaziz Hamad Aljomaih(Chairman) Allied Bank Of Pakistan Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Naser Al-Marri(Vice Chairman) Askari Commercial Bank Ltd.
Mr. Naveed Ismail(Chief Exec. Officer) Citibank N.A.
Mr. Shan A. Ashary(Director) First Women Bank Ltd.
Mr. Peter Hertog(Director) Habib Bank Ltd.
Mr. Ariful Islam(Director) MCB Bank Ltd.
Mr. Fazal Ahmad Khan(Director) National Bank Of Pakistan

Electric genaration electric units 1,685 MW 8,662.0 million KWH
555
Kohinoor Energy Ltd.
1404,14th Floor, Green Trust Tower, Blue Area, Islamabad.
Mr. M. Naseem Saigol(Chairman) ABN Amro Bank N.V. M/s. A. F. Ferguson & Co.
Mr. Muneki Udaka(Chief Executive) U.S.Bank New York (Off Share Trustee)
Mr. Shinichi Ushijima(Director) Bank Alfalah Ltd.
Shaikh Muhammad Shakeel(Director) Standard Chartered Bank
Mr. Ghazanfar Ali Zaidi(Director) Faysal Bank Limited
Mr. Ghazanfar Ali Kh (Wartsila Diesel Oy Finland
Mr. Hiroshie Uga(Director)

Power generation MWH 1,086,240 881,894
Kohinoor Power Company Ltd.

17-Aziz Avenue, Canal Bank, Gulberg-v, Lahore.
Mr. M. Naseem Saigol(Chairman / C.E.O.) Askari Bank Ltd. M/S S.P. Amjad & Co.
Mr. Muhammad Omer Farooq(Director) Bank Al-Falah Ltd.
Mr. M. Azam Saigol(Director) Habib Bank Ltd.
Mr. Muhammad Asif Bajwa(Director) MCB Bank Ltd.
Mr. Muhammad Athar Rafiq(Director) National Bank Of Pakistan
Mr. Shahid Sethi(Director) RBS Bank Ltd.
Mr. Rashid Ahmad Javaid(Director) Bank Alflah Limited

Electricity production M.W. 122,530 42,404
556
Kot Addu Power Co. Ltd.
Plot No.12, Street No. 10, F-6/1, Islamabad.
Mr. Shakil Durrani(Chairman) RBS Bank Ltd. M/S A. F. Ferguson & Co.
Mr. Syed Rizwan Ali Shah(Chief Execuative) Citibank N.A.
Mr. Malcolm P. Clamp(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Vinece Richard Harris OBE(Director) MCB Bank Ltd.
Mr. Aftab Mahmood Butt(Director) Habib Bank Ltd.
Mr. Muhammad Azhar Iqbal(Director) NIB Bank Ltd.
Dr. Abdul Hameed Akhund(Director)

Power generation M.Wh. 11,755,920 8,862,957
Mari Gas Company Ltd.

21 Mauve Area, 3rd Road, Sector G-10/4, Islamabad.
Lt.Gen.(Retd.) Syed Arif Hasan(Chairman) Habib Bank Ltd. M/S Yousuf Adil Saleem & Co.
Lt.Gen.(Retd.) Mushtaq Hussain(M.D. / C.E.O.) National Bank Of Pakistan
Mr. Qaiser Javed(Director) Bank Alfalah Ltd.
Brig.(Retd.) Rahat Khan(Director) Mybank Ltd
Brig.(Retd.) Arif Rasul Qureshi(Director) Allied Bank Of Pakistan Ltd.
Dr. Nadeem Inayat(Director) Askari Bank Ltd.
Mr. Muhammad Razi Abbas(Director) Soneri Bank Ltd.

Oil & gas exploration
557
National Refinery Ltd.
7-B, Korangi Industrial Zone, Karachi-74900
Dr. Ghaith R. Pharaon(Chairman) Askari Bank Ltd. M/S A. F. Ferguson & Co.
Mr. Shuaib A. Malik(Chief Executive) Allied Bank Of Pakistan Ltd.
Mr. Laith A. Pharaon(Director) Faysal Bank Ltd.
Mr. Wael G. Pharaon(Director) Habib Metropolitan Bank Limted
Mr. Abdus Sattar(Director) Soneri Bank Limited
Mr. Bilal A. Khan(Director) Habib Bank Ltd.
Mr. Firasat Ali(Director)

Refineing of crude oil for fuel M.Tons 2,710,500 2,733,797
Refineing of crude oil for lube M.Tons 620,486 707,388
Oil & Gas Development Corp. (OGDC)

OGDCL House, Plot No. 3, F-6/G-6, Blue Area, Jinnah Avenue, Islamabad
Mr. Arshad Nasar(Chairman) National Bank of Pakistan. KPMG Taseer Hadi & Co.
Mr. Zahid Hussain(M.D. / C.E.O.) Habib Bank Ltd. M/s M. Yousuf Adil Saleem & Co.
Mr. M. Naeem Malik(Director) Faysal Bank Ltd.
Mr. Aslam Khaliq(Director) Bank Alfalah Ltd.
Mr. Sikander Hayat Jamali(Director) Bank Al-Habib Ltd.
Mr. Al-Syed Abdul Qadir Jamaluddin Al-Gillani(D Habib Metropolitan Bank Ltd.
Mr. Azam Faruque(Director) Askari Bank Ltd.

558
Pakistan Oilfields Ltd.
P.O L. House, Morgah, Rawalpindi
Mr. Shuaib A. Malik(Chairman) Askari Bank Ltd. M/S A. F. Ferguson & Co.
Mr. Sajid Nawaz(Chief Executive) Faysal Bank Ltd.
Mr. Arif Kemal(Director) Habib Bank Ltd.
Mr. Muhammad Najam Ali(Director) MCB Bank Ltd.
Dr. Ghaith R. Pharaon(Director) United Bank Ltd.
Mr. Laith G. Pharaon(Director)
Mr. Wael G. Pharaon(Director)

Pakistan Petroleum Ltd.

PIDC House, Dr. Ziauddin Ahmed Road, Karachi-75530.
Mr. M.A.K. Alizai(Chairman) ABN AMRO Bank M/S Ford Rhodes Sidat Hyder & Co.
Mr. S. Munsif Raza(M.D. / C.E.O.) Askari Bank Ltd.
Mr. S.R. Poonnegar(Director) Bank Al-Falah Ltd.
Mr. Sajid Zahid(Director) Bank Al-Habib Ltd.
Mr. Shaukat Hayat Durrani(Director) Citibank N.A.
Mr. Pervaiz Kausar(Director) Deutsche Bank A.G.
Mr. Jalaluddin Qureshi(Director) Faysal Bank Ltd.

559
Pakistan Refinery Ltd.
PAKISTAN REFINERY LTD. Korangi Creek Road, Karachi-74900
Mr. Farooq Rahmatullah(Chairman) RBS Bank Ltd. M/s A. F. Ferguson & Co.
Mr. Ijaz Ali Khan(M.D. / C.E.O.) Bank Al-Habib Ltd.
Mr. Ardeshir Cowasjee(Director) Askari Bank Ltd.
Mr. Zaiviji Ismail Bin Abdullah(Director) Bank Al-Falah Ltd.
Mr. G.A. Sabri(Director) Citibank N.A.
Mr. Asif Sindhu(Director) Habib Metropolitan Bank Ltd.
Mr. Muhammad Abdul Aleem(Director) Habib Bank Ltd.

Crude oil refining M. Tons 2,133,705 2,123,145
Pakistan State Oil Company Ltd.

PSO House, Khayaban-e-Iqbal, Clifton, Karachi
Sardar Muhammad Yasin Malik(Chairman) RBS Bank Ltd. M/s. A. F. Ferguson & Co.
Mr. Muhammad Abdul Aleem(Managing Director Allied Bank Of Pakistan Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Shaukat Hayat Durrani(Director) Habib Metropolitan Bank Ltd.
Mr. Mahmood Akhtar(Director) Askari Bank Ltd.
Mr. Muhammad Yousaf Qamar Hussain Siddiqui Bank Al-Habib Ltd.
Mr. Arshad Said(Director) Bank Alflah Limited
Mr. Istaqbal Mehdi(Director) Citibank N.A.

Oil distribution
560
S.G. Power Ltd.
Plot No. B-40, S. I. T. E., Karachi
Mr. S. M. Ahmed(Chairman / C.E.O.) Habib Bank Ltd. M/S Muniff Ziauddin & Co.
Mst. Ghazala Ahmed(Director) Soneri Bank Ltd.
Mr. Rafiq Ahmed(Director)
Mrs. Tania Asim(Director)
Mr. Abdul salam(Director)
Mr. mohammad Hanif(Director)
Mst. Zubaida Khatoon(Director)

Electricity KWH 91,419,360 Nil
Steam Kilograms 50,280,648 Nil
Shell Gas Lpg (Pakistan) Ltd.

Shell Gas LPG , Suit No. 606-608, 6th Floor, The Forum, Block-9, Clifton, Karachi.
Mr.Zaiviji Ismail bin Abdullah(Chairman) Citibank N.A. M/S A. F. Ferguson & Co.
Ms. Fawzia Kazmi(G.M. / C.E.O.) Habib Bank Ltd. Royal Bank of Scotland
Mr. Adam Harrison(Director) MCB Bank Ltd.
Mr. Charles Parsons(Director) Standard Chartered Bank Ltd.
Mr. Istaqbal Mehdi(Director) National Bank of Pakistan
Ms. Sameer Amin(Director) United Bank Ltd.
Ms. Khurshid Bhaimia(Director)

LPG bottle filling M. Tons per day 85 indeterminable
561
Shell Pakistan Ltd.
Shell House, 6, Ch. Khaliquzzaman Road, Karachi
Mr. Zaiviji Ismail bin Abdullah(Chairman / C.E.O. Bank Al-Habib Ltd. M/S A. F. Ferguson & Co.
Ms. Shahnaz Wazir Ali(Director) Citibank N.A.
Mr. Saw Choo-Boon(Director) Habib Bank Ltd.
Mr. Farrakh K. Captain(Director) MCB Bank Ltd.
Ms. Trudy Bovoy(Director) United Bank Ltd.
Mr. Badaruddin F. Vellani(Director)
Mr. Yousuf Ali(Director)

Oil distribution
Sitara Energy Ltd.

601-602 Business Centre, Mumtaz Hassan Road, Karachi-74000.
Mr. Javed Iqbal(Chairman / C.E.O.) Al-Baraka Islamic Bank B.S.C.(E.C.) M/s Avais Hyder Liaquat Nauman & Co.
Mr. Muhammad Anis(Director) Allied Bank Of Pakistan Ltd.
Mr. Imran Ghafoor(Director) Faysal Bank Ltd.
Mr. Muhammad Adrees(Director) National Bank Of Pakistan
Mrs. Sharmeen Imran(Director) Standard Chartered Bank ( Pakistan) Ltd.
Miss Hiniah Javed(Director)
Mrs Naureen Jawed(Director)

Power generation Mega Watt Hours 713,590 325,358
562
Southern Electric Power Co. Ltd.
Razia Sharif Plaza, 6th Floor, 90 West, Jinnah Avenue Blue Area, Islamabad.
Mr. Ali Mahmood(Chairman / C.E.O.) Faysal Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Anthony Rustin(Director) RBS Bank Ltd.
Mr. Klaus Triendl(Director) United Bank Limited
Mrs. Sheereen Awan(Director) Natioanl Bank of Paksitan
Mr. S. M. Ghalib(Director) Askari Bank Ltd.
Mr. Taj ud Deen Kurji(Director)
Mr. Stephane Mailhot(Director)

Electric Generation MWH 119,458 368,660
Sui Northern Gas Pipelines Ltd.

Gas House, 21-Kashmir Road,P.O.Box # 56, Lahore
Mr. Altaf M. Saleem(Chairman) Allied Bank Of Pakistan Ltd. M/s Ford Rhodes Sidat Hyder & Co.
Mr. Abdul Rashid Lone(M.D. / C.E.O.) Citibank N.A. M/s Riaz Ahmad & Co.
Mr. Amer Tufail(Director) Habib Bank Ltd.
Mr. Saeedullah Shah(Director) MCB Bank Ltd.
Mr. Qasim Rabbani(Director) United Bank Ltd.
Mr. Amanullah Shaikh(Director)
Mian Raza Mansha(Director)

Transmission of naturl gas HM3 459,234 492,925
563
Sui Southern Gas Company Ltd.
St-4/B Block-14, Sir Shah Muhammad Suleman Road, Gulshan-e-Iqbal, Karachi-75300
Mr. Salim Abbas Jilani(Chairman) Allied Bank Of Pakistan Ltd. KPMG Taseer Hadi & Co.
Mr. Umair Khan(Managing Director) Habib Bank Ltd.
Mr. Humayun Murad(Director) MCB Bank Ltd.
Mr. Zahid Hussain(Director) Union Bank Ltd.
Mr. Javiad B. Shaikh(Director) United Bank Ltd.
Mirza Mehmood Ahmad(Director)
Mr. Nassar Ahmed(Director)

Natural gas transmissios MMCF 509,472 407,364
Natural gas transmissios HM3 in thousand 143,538 114,770
The Hub Power Company Ltd.

C/o.Famco Associates (Pvt.) Ltd., 12, Capital Shopping Centre, 2nd Floor, G-11 Markaz, Islamabad.
Mr. Javed Mehmood(Chief Executive) Allied Bank Ltd. M/s. M. Yousaf Adil Saleem & Co.
Mr. M. A. Alireza H.I.(Director) Citibank N.A.
Mr. Masood Ahmed(Director) National Bank Of Pakistan
Mr. R.A.Bramley(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Malcom P. Clampin(Director) Sumitomo Mitsui Banking Corporation London
Mr. Vince R. Harris(Director) Askari Bank Ltd.
Mr. Arif Ijaz(Director) Bank Al Habib Ltd.

Power Generation G.Wh. 10,541 7,205
564
Tri-Star Power Ltd.
F/498, S.I.T.E. Karachi-75700
Mr. Mohammad Ahmad Ismail(Chairman / C.E.O Bank Al-Habib Ltd. M/S Ghalib & Co.
Mr. Rashid Ahmad(Director) Citibank N.A.
Mr. Tahir Ahmad(Director) Habib Bank Ltd.
Mr. Habib Jamal(Director)
Mrs. Farnaz Ahmad(Director)
Mrs. Aliya Ahmad(Director)
()

Power generation
565
TRANSPORT & COMMUNICATION SECTOR
Transport And Communication Sector (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 38578.3 44666.6 56696.4 51480.4 33185.0 -7807.6
5.Debentures 15485.4 14760.9 16553.0 15395.9 12715.4 16796.6
B.Liquidity:
1.Liquid Assets: 37493.9 52598.0 45484.3 54475.9 57538.3 44360.8
(i)Cash 25903.5 42531.8 20681.5 36698.3 38268.7 26996.2
(ii)Investments 11590.4 10066.2 24802.8 17777.6 19269.6 17364.6
3.Inventories 54.2 17578.8 104.7 56.5 8409.1 4029.0
C.Fixed Assets:
4.Total assets (B4+C2) 198746.6 250664.7 247524.4 300646.4 318160.1 375449.9
D.Operation:
1.Gross sales 135931.9 159890.7 175385.9 173115.6 189668.8 217366.8
(i)Local sales 135761.9 159877.6 175385.9 171446.4 187797.6 216401.8
(ii)Export sales 0.0 13.1 0.0 1669.2 1871.2 965.0
2.Cost of Sales 70611.9 92828.4 95220.8 109658.7 127060.6 160589.8
3.Gross profit 65320.0 67062.3 80165.1 63456.9 62608.2 56777.0
8.Tax provision 15435.9 16726.1 15111.6 11128.9 958.0 2099.1
F.Cash Flow Data
567
Transport & Communication

390
360
330
300
270
240
210
%
180
150
120
90
60
30
0
2003 2004 2005 2006 2007 2008
20 35
30
15 25
20
10 15
Rupees
10
%
5 5
0
-5
0
-10
-15
-5
2003 2004 2005 2006 2007 2008 -20
2003 2004 2005 2006 2007 2008
568
Callmate Telips Telocom Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - 4.1 417.0 745.4 384.7 384.7
5.Debentures - 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - 202.0 392.0 33.2 19.1 19.1
(i)Cash - 202.0 392.0 33.2 19.1 19.1
(ii)Investments - 0.0 0.0 0.0 0.0 0.0
3.Inventories - 8.8 4.5 4.5 5.2 5.2
7.Net Current Assets(B4-B5) - 267.9 210.6 -355.0 -402.1 -402.1
C.Fixed Assets:
4.Total assets (B4+C2) - 847.5 2094.8 3279.5 3464.6 3464.6
D.Operation:
1.Gross sales - 1440.9 3276.9 4536.9 3150.7 3150.7
(i)Local sales - 1440.9 3276.9 3360.7 2187.3 2187.3
(ii)Export sales - 0.0 0.0 1176.2 963.4 963.4
2.Cost of Sales - 1183.7 2218.4 3398.0 2561.0 2561.0
3.Gross profit - 257.2 1058.5 1138.9 589.7 589.7
5.Operating profit - 125.3 698.5 694.1 -436.3 -436.3
7.Net profit before tax (D5-D6) - 114.6 673.1 636.7 -576.0 -576.0
8.Tax provision - 7.2 162.3 16.2 15.0 15.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - 418.0 478.0 -254.2 0.0
2.Retention in business (D7-D8-D9) - 107.4 510.8 570.2 -591.0 -591.0
3.Finance from outside the company (E1-E2) - - -92.8 -92.2 336.8 591.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - 137.2 587.6 671.7 -449.2 -449.2
2.Depreciation for the year plus changes in capital employed (C3+E1) - - 494.8 579.5 -112.4 141.8
5.Return on assets (D7 as % of C4) - 13.5 32.1 19.4 -16.6 -16.6
15.Return on Equity (D7 as % of A3) - 22.6 73.2 45.5 -55.5 -55.5
3.Net profit margin (D7 as % of D1) - 8.0 20.5 14.0 -18.3 -18.3
4.Earning per share before tax (D7/No. of ordinary shares) - 2.3 13.4 9.7 -8.8 -8.8
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - 2.1 10.2 9.5 -9.0 -9.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - 482.6 -27.6 -190.7 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - 127.4 38.5 -30.6 0.0
569
Eye Television Network Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - - -150.3 -100.1 -2.2 224.1
5.Debentures - - 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - - 29.0 12.1 31.2 64.0
(i)Cash - - 29.0 12.1 31.2 64.0
(ii)Investments - - 0.0 0.0 0.0 0.0
3.Inventories - - 0.3 0.1 101.8 0.8
C.Fixed Assets:
4.Total assets (B4+C2) - - 245.2 518.5 685.9 1017.3
D.Operation:
1.Gross sales - - 21.0 520.0 1154.4 1453.9
(i)Local sales - - 21.0 520.0 1154.4 1453.9
(ii)Export sales - - 0.0 0.0 0.0 0.0
2.Cost of Sales - - 95.0 439.5 863.7 864.6
3.Gross profit - - -74.0 80.5 290.7 589.3
5.Operating profit - - -142.0 -7.9 154.3 366.1
7.Net profit before tax (D5-D6) - - -142.2 -8.4 146.3 354.9
8.Tax provision - - 0.1 1.6 3.1 117.9
2.Retention in business (D7-D8-D9) - - -142.3 -10.0 143.2 237.0
3.Finance from outside the company (E1-E2) - - - 230.6 12.3 -35.9
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - -130.8 10.4 169.3 266.3
5.Return on assets (D7 as % of C4) - - -58.0 -1.6 21.3 34.9
10.Financial expenses as % of operating profit (D6 as % of D5) - - - -6.3 5.2 3.1
15.Return on Equity (D7 as % of A3) - - -71.2 -2.1 29.4 49.0
3.Net profit margin (D7 as % of D1) - - -677.1 -1.6 12.7 24.4
4.Earning per share before tax (D7/No. of ordinary shares) - - -4.1 -0.2 2.9 7.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - -4.1 -0.2 2.9 4.7
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - -510.0 -95.1 -1550.0 144.8
570
Netsol Technologies Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - - 318.4 518.1 687.3 966.0
5.Debentures - - 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - - 63.9 142.5 82.7 143.1
(i)Cash - - 18.9 127.3 67.5 127.9
(ii)Investments - - 45.0 15.2 15.2 15.2
3.Inventories - - 0.0 0.0 499.0 0.0
9.Net liquid assets (B1-B5) - - -15.2 36.9 -204.2 -317.3
C.Fixed Assets:
4.Total assets (B4+C2) - - 654.4 986.5 1395.3 2041.7
D.Operation:
1.Gross sales - - 433.5 600.2 1082.4 1556.2
(i)Local sales - - 433.5 110.0 174.7 1556.2
(ii)Export sales - - 0.0 490.2 907.7 0.0
2.Cost of Sales - - 153.0 291.7 465.8 613.5
3.Gross profit - - 280.5 308.5 616.6 942.7
8.Tax provision - - 0.8 1.6 4.1 6.9
3.Finance from outside the company (E1-E2) - - - 137.8 -197.9 -236.7
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - 690.0 -39.2 118.8 23.8
571
Pak Datacom Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 116.0 118.3 187.2 260.4 323.4 398.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 62.8 92.4 191.1 194.1 193.2 178.8
(i)Cash 62.8 92.4 191.1 45.6 63.5 82.4
(ii)Investments 0.0 0.0 0.0 148.5 129.7 96.4
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 321.4 366.3 529.9 590.4 676.8 833.0
D.Operation:
1.Gross sales 182.9 217.1 417.5 513.8 523.5 690.5
(i)Local sales 182.9 204.0 417.5 511.0 523.5 688.9
(ii)Export sales 0.0 13.1 0.0 2.8 0.0 1.6
2.Cost of Sales 111.4 109.0 184.8 241.0 301.0 420.8
3.Gross profit 71.5 108.1 232.7 272.8 222.5 269.7
8.Tax provision 0.9 9.6 36.8 48.8 52.5 43.0
F.Cash Flow Data
572
Pakistan Int. Container Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - -40.8 194.9 506.9 832.7 1215.8
5.Debentures - 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - 133.2 521.5 757.7 841.5 1097.1
(i)Cash - 133.2 521.5 756.4 380.5 390.5
(ii)Investments - 0.0 0.0 1.3 461.0 706.6
3.Inventories - 0.0 0.0 0.0 168.5 0.0
9.Net liquid assets (B1-B5) - -156.6 99.1 55.1 -76.3 -296.2
C.Fixed Assets:
4.Total assets (B4+C2) - 1849.6 2466.2 3600.6 4354.4 5740.0
D.Operation:
1.Gross sales - 372.6 1342.7 1707.8 2218.9 3194.5
(i)Local sales - 372.6 1342.7 1707.8 2218.9 3194.5
(ii)Export sales - 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales - 260.5 806.3 1067.1 1410.8 1868.9
3.Gross profit - 112.1 536.4 640.7 808.1 1325.6
8.Tax provision - 1.9 6.5 8.6 10.9 141.3
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - 483.9 854.4 538.5 909.9
3.Finance from outside the company (E1-E2) - - 154.7 430.4 29.3 601.2
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) - - 618.6 996.3 751.4 1150.2
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - 260.4 27.2 29.9 44.0
573
Pakistan International Airlines Corporation Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -2231.7 -777.0 -5071.8 -19433.6 -31913.1 -54045.4
5.Debentures 15139.5 14760.9 14003.9 13247.0 10723.7 12430.1
B.Liquidity:
1.Liquid Assets: 10800.0 11613.6 3302.3 10409.5 6547.8 5329.7
(i)Cash 10089.7 10838.9 2614.7 5459.9 1975.5 789.6
(ii)Investments 710.3 774.7 687.6 4949.6 4572.3 4540.1
3.Inventories 0.0 0.0 0.0 0.0 3251.9 3726.9
C.Fixed Assets:
4.Total assets (B4+C2) 56565.6 78602.2 72785.1 106793.5 118670.1 139556.6
D.Operation:
1.Gross sales 47951.8 57788.1 64074.5 76435.2 70480.7 99171.7
(i)Local sales 47951.8 57788.1 64074.5 76435.2 70480.7 99171.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 31324.7 49053.8 58940.8 74723.3 66222.0 93269.2
3.Gross profit 16627.1 8734.3 5133.7 1711.9 4258.7 5902.5
8.Tax provision 938.2 288.9 320.4 382.7 352.4 801.5
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 14.0 2.0 - -114.4 -2401.8 -3800.8
15.Return on Equity (D7 as % of A3) 39.9 5.3 -35.0 -32463.5 0.0 0.0
1.Dividend cover ratio [(D7 - D8) as % of D9] - 0.0 -840.0 0.0 0.0 0.0
574
Pakistan National Shipping Corporation. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1418.4 2974.7 9241.8 10123.6 12952.2 4848.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3461.0 5277.5 12690.0 5032.0 6948.5 9076.2
(i)Cash 1956.1 2234.6 1101.6 4327.1 907.9 3394.4
(ii)Investments 1504.9 3042.9 11588.4 704.9 6040.6 5681.8
3.Inventories 0.0 0.0 0.0 0.0 444.3 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 5090.6 7455.3 14922.2 13591.4 16386.6 13612.8
D.Operation:
1.Gross sales 5404.9 6963.1 7951.0 7924.6 9089.1 10753.5
(i)Local sales 5404.9 6963.1 7951.0 7924.6 9089.1 10753.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 4384.4 4571.3 4995.1 6255.0 6495.7 7277.1
3.Gross profit 1020.5 2391.8 2955.9 1669.6 2593.4 3476.4
8.Tax provision 123.0 97.1 55.3 328.1 487.9 458.9
F.Cash Flow Data
575
Pakistan Telecommunication Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 39222.2 42072.8 55730.0 62051.5 56682.6 47225.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 21285.4 32138.7 19190.7 29716.8 40695.5 24978.3
(i)Cash 13396.0 28672.4 12280.8 22598.8 33283.7 21240.7
(ii)Investments 7889.4 3466.3 6909.9 7118.0 7411.8 3737.6
3.Inventories 0.0 17467.0 0.0 0.0 3879.2 190.9
C.Fixed Assets:
4.Total assets (B4+C2) 130604.4 150655.7 131611.9 148191.2 149590.2 187302.3
D.Operation:
1.Gross sales 78866.5 87986.0 84913.5 72684.4 86252.0 80835.9
(i)Local sales 78866.5 87986.0 84913.5 72684.4 86252.0 80835.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 32367.5 33824.1 18734.5 17370.1 37277.8 39727.0
3.Gross profit 46499.0 54161.9 66179.0 55314.3 48974.2 41108.9
8.Tax provision 14364.1 16245.4 14297.7 10327.9 0.0 461.0
F.Cash Flow Data
576
Southern Networks Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - -14.9 -198.1 -305.2 -461.0 -536.8
3.Shareholder's Equity (A1+A2) - 484.9 301.7 194.6 38.8 -37.0
5.Debentures - 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) - 533.6 376.4 215.9 54.0 -28.6
B.Liquidity:
1.Liquid Assets: - 14.2 45.9 1.3 1.9 1.0
(i)Cash - 14.2 30.9 1.3 1.9 1.0
(ii)Investments - 0.0 15.0 0.0 0.0 0.0
3.Inventories - 0.0 59.3 15.6 5.9 4.0
7.Net Current Assets(B4-B5) - -0.8 83.8 -5.9 -135.4 -191.4
C.Fixed Assets:
4.Total assets (B4+C2) - 633.6 531.7 331.7 235.0 192.5
D.Operation:
1.Gross sales - 17.2 235.7 95.6 50.1 55.4
(i)Local sales - 17.2 235.7 95.6 50.1 55.4
(ii)Export sales - 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales - 9.1 194.3 89.8 50.1 76.3
3.Gross profit - 8.1 41.4 5.8 0.0 -20.9
5.Operating profit - -5.3 -83.8 -98.8 -106.6 -50.1
7.Net profit before tax (D5-D6) - -9.9 -101.1 -112.7 -167.3 -80.6
8.Tax provision - 0.1 1.1 0.5 0.3 0.3
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - -157.2 -160.5 -161.9 -82.6
2.Retention in business (D7-D8-D9) - -10.0 -102.2 -113.2 -167.6 -80.9
3.Finance from outside the company (E1-E2) - - -55.0 -47.3 5.7 -1.7
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - -5.0 -66.6 -74.6 -134.8 -52.8
2.Depreciation for the year plus changes in capital employed (C3+E1) - - -121.6 -121.9 -129.1 -54.5
5.Return on assets (D7 as % of C4) - -1.6 -19.0 -34.0 -71.2 -41.9
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - 97.0 60.4 38.9 7.8 -7.4
15.Return on Equity (D7 as % of A3) - -2.0 -33.5 -57.9 -431.2 0.0
3.Net profit margin (D7 as % of D1) - -57.6 -42.9 -117.9 -333.9 -145.5
4.Earning per share before tax (D7/No. of ordinary shares) - -0.2 -2.0 -2.3 -3.3 -1.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - -0.2 -2.0 -2.3 -3.4 -1.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - 900.0 15.0 43.5 -51.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - 1270.3 -59.4 -47.6 10.6
10.Break-up value of ordinary shares (in rupees) - 9.7 6.0 3.9 0.8 -0.7
577
TRG Pakistan Ltd (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - -94.7 -94.0 -232.2 -3154.5 -2389.1
5.Debentures - 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - 966.1 2808.9 3608.8 856.3 1476.9
(i)Cash - 8.4 14.6 50.4 847.0 2.2
(ii)Investments - 957.7 2794.3 3558.4 9.3 1474.7
3.Inventories - 0.0 0.0 0.0 4.9 0.0
9.Net liquid assets (B1-B5) - 607.6 2267.4 2127.4 -658.9 1441.3
C.Fixed Assets:
4.Total assets (B4+C2) - 984.6 2865.5 3661.1 3637.7 1500.5
D.Operation:
1.Gross sales - 17.7 5997.8 29.3 8722.7 8841.5
(i)Local sales - 17.7 5997.8 29.3 8722.7 8841.5
(ii)Export sales - 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales - 8.9 4168.3 19.3 6157.3 7949.3
3.Gross profit - 8.8 1829.5 10.0 2565.4 892.2
5.Operating profit - -48.5 -6.0 3.1 -404.1 -1854.3
7.Net profit before tax (D5-D6) - -55.8 -79.0 -135.9 -574.4 -2118.1
8.Tax provision - 0.0 16.5 0.0 20.7 4.1
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - 1697.9 -144.3 -57.1 -657.7
2.Retention in business (D7-D8-D9) - -55.8 -95.5 -135.9 -595.1 -2122.2
3.Finance from outside the company (E1-E2) - - 1793.4 -8.4 538.0 1464.5
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - -55.3 -89.9 -128.6 -318.4 -2119.9
2.Depreciation for the year plus changes in capital employed (C3+E1) - - 1703.5 -137.0 219.6 -655.4
5.Return on assets (D7 as % of C4) - -5.7 -2.8 -3.7 -15.8 -141.2
7.Cash flow ratio F1 as % of F2 - 0.0 -5.3 93.9 -145.0 323.5
15.Return on Equity (D7 as % of A3) - -8.9 -3.4 -6.2 -82.1 -144.6
3.Net profit margin (D7 as % of D1) - -315.3 -1.3 -463.8 -6.6 -24.0
4.Earning per share before tax (D7/No. of ordinary shares) - -0.8 -0.3 -0.6 -1.5 -5.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - -0.8 -0.4 -0.6 -1.5 -5.5
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - -62.5 100.0 150.0 266.7
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - 33785.9 -99.5 29670.3 1.4
578
Telecard Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 277.4 423.2 -2663.6 -2577.7 -2976.4 -4847.5
5.Debentures 0.0 0.0 2400.0 2099.0 1648.8 1129.0
B.Liquidity:
1.Liquid Assets: 181.8 357.7 2909.9 2174.1 130.2 445.1
(i)Cash 44.8 17.2 2569.4 1833.6 130.2 35.4
(ii)Investments 137.0 340.5 340.5 340.5 0.0 409.7
3.Inventories 53.1 76.2 22.8 14.5 13.1 10.2
C.Fixed Assets:
4.Total assets (B4+C2) 2051.0 3215.5 8130.7 8015.4 6385.1 5811.8
D.Operation:
1.Gross sales 1136.2 2028.7 2591.5 3034.2 2265.3 2848.9
(i)Local sales 1136.2 2028.7 2591.5 3034.2 2265.3 2848.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 782.6 1546.0 1761.1 2412.7 2258.7 2801.1
3.Gross profit 353.6 482.7 830.4 621.5 6.6 47.8
8.Tax provision 8.9 13.9 187.8 12.8 10.7 26.6
F.Cash Flow Data
579
Worldcall Telecom Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - - -2426.5 -76.7 -170.7 -1251.8
5.Debentures - - 0.0 49.9 342.9 3237.5
B.Liquidity:
1.Liquid Assets: - - 591.9 2394.0 1190.3 1551.4
(i)Cash - - 591.9 1452.8 560.6 849.0
(ii)Investments - - 0.0 941.2 629.7 702.4
3.Inventories - - 0.4 21.9 35.2 90.9
7.Net Current Assets(B4-B5) - - -1040.0 846.3 -931.9 81.1
C.Fixed Assets:
4.Total assets (B4+C2) - - 3558.5 11087.0 12678.3 14376.6
D.Operation:
1.Gross sales - - 677.9 5033.8 4678.9 4814.0
(i)Local sales - - 677.9 5033.8 4678.9 4814.0
(ii)Export sales - - 0.0 0.0 0.0 0.0
2.Cost of Sales - - 607.8 3351.2 2996.7 3161.0
3.Gross profit - - 70.1 1682.6 1682.2 1653.0
5.Operating profit - - -7.1 1361.3 1024.4 504.5
7.Net profit before tax (D5-D6) - - -31.8 1182.2 710.9 43.3
8.Tax provision - - 0.0 0.0 0.3 22.6
2.Retention in business (D7-D8-D9) - - -31.8 1182.2 710.6 20.7
3.Finance from outside the company (E1-E2) - - - 5450.7 146.5 2376.1
F.Cash Flow Data
5.Return on assets (D7 as % of C4) - - -0.9 10.7 5.6 0.3
3.Net profit margin (D7 as % of D1) - - -4.7 23.5 15.2 0.9
4.Earning per share before tax (D7/No. of ordinary shares) - - -0.1 1.8 0.9 0.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - -0.1 1.8 0.9 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - -110.0 -1900.0 -50.0 -88.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - 642.6 -7.1 2.9
580
Callmate Telips Telocom Ltd.
99-CF, 1/5, Clifton, Karachi-75600
Mr. Ahmed Jamil Ansari(Chairman) Allied Bank Ltd. M/S Zahid Jamil & Co.
Mr. Mohammad Ajmal Ansari(Chief Executive) Bank of Khyber
Mr. Hassan Jamil Ansari(Director) MCB Bank Ltd.
Mr. Imran Mahmood(Director) Standard Chartered Bank ( Pakistan) Ltd.
Gen. (Retd.) Safdr Ali Khan(Director) National Bank of Pakistan.
Mr. Tariq M. Rangoonwala(Director) Habib Bank Ltd.
Mr. Nadeem Ahmad Khan(Director) Bank Al-Falah Ltd.


Calling cards & telecom facility
Note: AGM for 2008 has not been
till arranged.
Eye Television Network Ltd.

Hum TV. Plot No. 10/11, Hassan Ali Street, Off I.I. Chundrigar Road, Karachi-74000.
Ms. Sultana Siddiqui(Chairperson) Bank Alfalah Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Duraid Qureshi(Chief Executive) Faysal Bank Ltd.
Mrs. Mehtab Akbar Rashidi(Director) KASB Bank Ltd.
Mr. Munawar Alam Siddiqui(Director) JS Bank Ltd.
Mr. Mazhar-ul-Haq Siddiqui(Director) National Bank of Pakistan.
Mrs. Khus Bhakt Shujat(Director)
Mr. Ayaz Dawood(Director)

T.V. commercial production
581
Netsol Technologies Ltd.
NetSol IT Village, Software Tech. Park, Netsole Avenue, Main Ghazi Road, Lahore Cantt.
Mr. Saleemullah Ghauri(Chairman / C.E.O.) IGI Investment Bank Ltd. M/s.Kabani Saeed Kamran Patel & Co.
Mr. Najeebullah Ghauri(Director) First National Bank Modaraba
Mr. Naeemullah Ghauri(Director) Innovative Investment Bank Ltd.
Mr. Irfan Mustafa(Director) Askari Bank Ltd.
Mr. Shahid Javed Burki(Director) Bank Al-Falah Ltd.
Mr. Zahid Bashir Mirza(Director) United Bank Ltd.
Mr. Rehmat Ullah Ghauri(Director) JS Bank Ltd.

Telecommunication technologies Indeterminable
Pak Datacom Ltd.

1st Floor, TF Complex, 7-Mauve Area, G-9 / 4, Islamabad.
Mr. Iftikhar Ahmed Raja(Chairman) Habib Bank Ltd. M/s.Khalid Majid Rahman Sarfaraz Rahim Iqbal R
Syed Mahmood Ahmad(Chief Executive) National Bank Of Pakistan
Mr. Khushmir Khan(Director) United Bank Ltd.
Mr. Masud Jawaid(Director) MCB Bank Ltd.
Mr. Muhammad Azeem(Director) The Royal Bank of Scotland Ltd.
Mr. Amjad Hussain Qureshi(Director) Bank Alfalah Ltd.
Mr. Muhammad Arif(Director)

Telecom data transmission
582
Pakistan Int. Container Ltd.
2nd Floor, Business Plaza, Mumtaz Hassan Road, Karachi.
Cap. (R) Haleem Siddiqui(Chairman) JS Bank Ltd. M/S Ford Rhodes Sidat Hyder & Co.
Cap. (R) Zafar Iqbal Awan(Chief Executive) Faysal Bank Ltd.
Mr. Aasim Azim Siddiqui(Director) Crescent Com. Bank Ltd.
Mr. Shahrique Azim Siddiqui(Director) Standard Chartered Bank Ltd.
Mr. Danish Azim Siddiqui(Director) United Bank Ltd.
Syed Nizam A. Shah(Director)
Mr. Ali J. Siddiqui(Director)

Shipping cantainer services
Pakistan International Airlines Corporation Ltd.

PIA Building, Jinnah International Airport, Karachi.
Ch. Ahmed Mukhtar(Chairman) United Bank Ltd. M/s. Anjum Asim Shahid Rahman & Co.
Capt. Mohammad Aijaz Haroon(Managing Direct Askari Commercial Bank Limited M/s. Ford Rhodes Sidat Hyder & Co.
Syed Naseer Ahmad(Director) Bank Alfalah Ltd.
Malik Nazir Ahmed(Director) Citibank N.A.
Mr. Javed Akhtar(Director) MCB Bank Ltd.
Lt. Gen.(Retd.) Syed Athar Ali(Director) National Bank Of Pakistan
Prof. Mian Ijaz ul Hassan(Director) Pak Kuwait Investment Company (Pvt.) Ltd.

Airline services
583
Pakistan National Shipping Corporation.
PNSC Building, Moulvi Tamizuddin Khan Road, Karachi
Vice Admiral (Retd.) Sikandar V. Naqvi(Chairma Habib Bank Ltd. M/s. A. F. Ferguson & Co.
Mrs. Rukhsana Saleem(Director) Allied Bank Of Pakistan Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Rasheed Y. Chinoy(Director) United Bank Ltd.
Mr. Khalid Idrees(Director) Faysal Bank Ltd.
Mr. Byram D. Avari(Director) Bank Al-Falah Ltd.
Mr. Jahangir Siddqui(Director) Habib Metropolitan Bank Ltd.
Mr. Khowaja Obaid Imran Ilyas(Director) JS Bank Ltd.

Carrying Capicity of cotton bales Cubic meters 232,229 Indeterminable
Carrying Capicity of food grains Cubic meters 244,086 Indeterminable
Carrying Capicity of dead weight M.Tons 570,466 Indeterminable
Pakistan Telecommunication Company Ltd.

PTCL Headquaters, Block-E, Sector G-8/4, Islamabad-44000.
Mr. Walid Irshad(President / C.E.O.) Citibank N.A. KPMG Taseer Hadi & Co.
Mr. Muhammad Nehmatullah Toor(Director) Askari Bank Ltd. M/s. A. F. Ferguson & Co.
Syed Mazhar Hussain(Director) Faysal Bank Ltd.
Mr. Farah Qamar(Director) MCB Bank Ltd.
Mr Pervaiz Mahtab(Director) National Bank Of Pakistan
Mr. Sikandar Naqi(Director) Standard Chartered Bank Ltd.
Dr. Sadik Al-Jadir(Director) The Royal Bank of Scotland Ltd.

Actual lines installed (ALI) Numbers 9,225,720 5,315,668
584
Southern Networks Ltd.
5-Y, Block-6, P.E.C.H.S., kARACHI.
Mr. Neville Metha(Chairman / C.E.O.) Askari Commercial Bank Ltd. M/S Jalis Ahmed & Co.
Mr. Nisar Ahmed(Director) Prime Commercial Bank Ltd.
Mr. Muhammad Younas(Director) Faysal Bank Ltd.
Mr. Adnan-ul Karim(Director) Saudi Pak Com. Bank Ltd.
Mr. Aqil Qureshi(Director)
Mrs. Saeeda Hassan Ali Efffandi(Director)
Mr. Maqbool Mughal(Director)

T.V. commercial production
TRG Pakistan Ltd

7th floor, Block-B, Finance & trade Centre, Shahrah-e-Faisal, Karachi.
() MCB Bank Ltd. M/S A. F. Fergusan & Co.
Mr. Muhammad Ziaullah Khan Chisti(Chairman / Habib Bank Ltd.
Mr. Muhammad Ali Jameel(Director) National Bank of Pakistan.
Mr. Rafiq K. Dossani(Director) United Bank Ltd.
Mr. Ameer Qureshi(Director) Askari Commerial Bank Ltd.
Mr. Saeed Iqbal(Director)
Mr. Peter H.R. Riepenhausen(Director)

Telecom software development
585
Telecard Ltd.
3rd Floor, World Trade Centre, 75-East Blue Area, Fazal-e-Haq Road, Islamabad.
Mr. Sultan-ul-Arfeen(Chairman) Faysal Bank Ltd. M/S Ford Rhodes Sidat Hyder & Co.
Mr. Shahid Firoz(Chief Executive) Habib Bank Ltd.
Dr. Peregrine Moncreiffe(Director) National Bank of Pakistan.
Mr. Aamir Niazi(Director) Standard Chartered Bank ( Pakistan) Ltd.
Syed Nizam Ahmed Shah(Director) Orix Investment Bank Ltd.
Mr. Khalid Firoz(Director) Pak Oman Investment Co. (Pvt.) Ltd.,
Mr. Javaid Firoz(Director)

Calling cards & wireless services
Worldcall Telecom Ltd.

103-C/II, Gulberg-III, Lahore.
Dr. Mohammad Ali Mohammad Al-Wohaibi(Cha Askari Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Babar Ali Syed(Chief Execuative) Samba Bank Limited
Mr. Shaan Taseer(Director) Faysal Bank Ltd.
Mr. Sulieman Ahmed Said Al-Hoqani(Director) Habib Bank Ltd.
Mr. Abdullah Zaran Abdullah Al-Hinai(Director) MCB Bank Ltd.
Mr. Nasim Beg(Director) National Bank of Pakistan.
Mr. Saleem Jawad Jaffar Al-Khabori(Director) Soneri Bank Ltd.

Calling cards & wireless services
586
TOBACCO SECTOR
Tobacco Sector (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1833.5 2661.0 4612.3 5828.3 6395.1 6423.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 686.5 1717.0 1464.9 1075.8 947.9 150.3
(i)Cash 681.5 412.8 1459.9 670.7 942.9 145.3
(ii)Investments 5.0 1304.2 5.0 405.1 5.0 5.0
3.Inventories 4889.4 4555.8 4895.4 5812.8 6478.7 9420.6
C.Fixed Assets:
4.Total assets (B4+C2) 11258.4 12025.3 13579.3 14694.1 16465.3 19928.2
D.Operation:
1.Gross sales 38380.1 45144.9 54015.4 56411.6 63405.1 74164.2
(i)Local sales 38380.1 45143.5 53994.5 56407.9 63401.4 74101.4
(ii)Export sales 0.0 1.4 20.9 3.7 3.7 62.8
2.Cost of Sales 32654.8 38425.9 45391.4 46687.7 52386.5 62549.3
3.Gross profit 5725.3 6719.0 8624.0 9723.9 11018.6 11614.9
8.Tax provision 488.9 628.2 1498.3 1705.3 1948.3 1786.1
F.Cash Flow Data
589
Tobacco
135
115
95
75
%
55
35
15
-5
2003 2004 2005 2006 2007 2008
-25
36 35
30 30
25
24
Rupees
20
18 %
15
12
10
6
5
0
2003 2004 2005 2006 2007 2008 0
2003 2004 2005 2006 2007 2008
590
Khyber Tobacco Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -72.7 -72.0 -54.7 -53.4 -43.5 -37.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.0 0.0 0.1 0.1 3.1
(i)Cash 0.0 0.0 0.0 0.1 0.1 3.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 8.3 9.6 3.9 0.0 4.4 25.5
C.Fixed Assets:
4.Total assets (B4+C2) 13.9 26.0 9.2 5.1 9.6 35.3
D.Operation:
1.Gross sales 4.9 5.7 7.1 11.5 25.7 69.9
(i)Local sales 4.9 5.7 7.1 11.5 25.7 42.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 27.1
2.Cost of Sales 6.4 4.5 5.2 7.8 17.6 61.2
3.Gross profit -1.5 1.2 1.9 3.7 8.1 8.7
8.Tax provision 0.3 0.3 0.7 1.0 1.1 1.5
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - - 7.7 -300.0 187.9 67.2
591
Lakson Tobacco Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 1530.3 2021.5 3566.3 4278.0 4951.2 5378.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 633.1 1672.6 1401.7 1007.4 775.8 46.7
(i)Cash 633.1 373.4 1401.7 607.3 775.8 46.7
(ii)Investments 0.0 1299.2 0.0 400.1 0.0 0.0
3.Inventories 1650.8 1466.2 1104.2 2009.1 2463.2 5327.1
C.Fixed Assets:
4.Total assets (B4+C2) 3914.8 4951.9 5567.8 5918.6 6593.2 9439.8
D.Operation:
1.Gross sales 15746.1 19624.1 23320.6 20619.7 22425.3 24937.9
(i)Local sales 15746.1 19624.1 23320.6 20619.7 22425.3 24937.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 12892.0 16394.2 19240.4 16443.2 17934.8 20621.5
3.Gross profit 2854.1 3229.9 4080.2 4176.5 4490.5 4316.4
8.Tax provision 444.8 613.4 862.0 822.0 780.0 537.1
F.Cash Flow Data
592
Pakistan Tobacco Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 373.8 710.4 1084.5 1584.2 1467.9 1053.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 53.1 44.2 62.6 67.9 171.7 74.2
(i)Cash 48.1 39.2 57.6 62.9 166.7 69.2
(ii)Investments 5.0 5.0 5.0 5.0 5.0 5.0
3.Inventories 3227.5 3074.1 3780.9 3790.9 3998.2 4059.1
C.Fixed Assets:
4.Total assets (B4+C2) 7298.8 7024.8 7968.4 8734.5 9826.3 10395.1
D.Operation:
1.Gross sales 22572.2 25452.6 30615.1 35715.5 40889.3 49053.9
(i)Local sales 22572.2 25452.6 30615.1 35715.5 40889.3 49053.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 19700.7 21970.0 26085.5 30181.9 34379.3 41777.2
3.Gross profit 2871.5 3482.6 4529.6 5533.6 6510.0 7276.7
8.Tax provision 43.6 14.0 633.8 880.3 1165.1 1246.2
3.Finance from outside the company (E1-E2) -514.2 -450.0 -435.4 410.0 -1668.4 -618.2
F.Cash Flow Data
593
Sarhad Cigarette Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 2.0 1.2 16.3 19.5 19.5 29.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.3 0.2 0.6 0.4 0.4 26.2
(i)Cash 0.3 0.2 0.6 0.4 0.4 26.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 2.8 5.9 6.4 12.9 12.9 9.0
C.Fixed Assets:
4.Total assets (B4+C2) 30.9 22.7 33.9 36.2 36.2 58.1
D.Operation:
1.Gross sales 56.8 62.5 72.6 64.9 64.9 102.5
(i)Local sales 56.8 61.1 51.7 61.2 61.2 66.8
(ii)Export sales 0.0 1.4 20.9 3.7 3.7 35.7
2.Cost of Sales 55.7 57.2 60.4 54.8 54.8 89.5
3.Gross profit 1.1 5.3 12.2 10.1 10.1 13.0
8.Tax provision 0.2 0.5 1.8 2.1 2.1 1.4
F.Cash Flow Data
594
Khyber Tobacco Company Ltd.
Khyber Tobacco Company Ltd., Nowshera malakand Road, Mardan, N.W.F.P.
Mr. Wali-ur-Rehman(M.D. / C.E.O.) MCB Bank Ltd. M/s. Tariq Ayub Anwar & Co.
Mr. Wasim-ur-Rehman(Director) National Bank Of Pakistan
Mr. Mohammad Sial(Director)
Mr. Sajjad Khan(Director)
Mr. Abdul Qayum Khan(Director)
Mr. Muhammad Arif Khan(Director)
Mr. Muhammad Ramzan(Director)

Cigarettes Number (Million) 4,422 90.7
Lakson Tobacco Company Ltd.

Lakson Square Building No.2, Sarwar Shaheed Road,Karachi
Mr. Asmer Naim(Director) Citi Bank N. A. M/S Ford Rhodes Sidat Hyder & Co.
Mr. Salman Hameed(Chairman / C.E.O.) Habib Bank Ltd.
Mr. Kurt Hunkler(Director) MCB Bank Ltd.
Mr. joseph mitchell Gault(Director) Meezan Bank Ltd.
Mr. Matteo Lorenzo Pellegrini(Director) National Bank of Pakistan
Mr. DOglus Walter Werth(Director) RBS Bank Ltd.
Mr. Kevin Doglous Click(Director) Allied Bank Of Pakistan

Cigarettes Numbers (Million) 40,620 29,211
595
Pakistan Tobacco Company Ltd.
Dubai Plaza, Plot No.5, Street No. 20, Salman Market, F-11/2, Islamabad.
Mr. Mueen Afzal(Chairman) MCB Bank Ltd. M/s. A. F. Ferguson & Co.
Mr. Nicholas Stewart Hales(M.D. / C.E.O.) National Bank Of Pakistan
Mr. Ben Willem Fourie(Director) Citi Bank N. A.
Lt. Gen. (Retd.) Ali Kuli Khan Khattak(Director) Habib Bank Limited
Mr. Abid Niaz Hasan(Director) Deutsch Bank
Mr. Istaqbal Mehdi(Director) The Royal Bank of Scotland Ltd.
Mr. Kunwar Idris(Director) Standard Chartered Bank ( Pakistan) Ltd.
Date of Annual General Meeting 23rd April , 2009 Face Value Rs. 10.00

Cigarettes
Sarhad Cigarette Industries Ltd.

Akbarabad, P.O.Nawankilli, Distt. Sawabi, NWFP.
Mr. Mohammad Akram Bacha(Chairman / C.E.O Habib Bank Ltd. M/S BDO Ebrahim & Co.
Mr.Mohammad Aijaz Akram(Director) NIB Bank Ltd.
Mr.Mohammad Nawaz Akram(Director)
Mrs. Zakia M. Akram(Director)
Mrs. Aisha Shiraz(Director)
Mrs. Fatima S. Akram(Director)
Mr. Sheraz Akram(Director)

Cigarettes No. (in thousands) 1,150,000 99,520
596
JUTE SECTOR
Jute Sector (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 201.9 349.1 993.2 2165.0 2838.4 4349.9
5.Debentures 0.0 0.0 6.4 46.4 6.4 0.0
B.Liquidity:
1.Liquid Assets: 279.0 234.5 400.6 756.9 1629.6 2120.5
(i)Cash 59.4 16.7 155.2 207.6 889.9 94.0
(ii)Investments 219.7 217.8 245.4 549.3 739.7 2026.5
3.Inventories 621.8 1020.9 1121.0 1861.0 1674.1 2310.6
C.Fixed Assets:
4.Total assets (B4+C2) 2427.7 2532.7 3123.9 4646.5 5097.7 7922.7
D.Operation:
1.Gross sales 3130.4 3594.7 4880.5 6762.7 7760.5 10993.0
(i)Local sales 2987.6 3274.1 4479.5 6250.9 7205.2 10339.0
(ii)Export sales 142.8 320.6 401.0 511.8 555.3 654.0
2.Cost of Sales 2566.2 3044.7 4169.7 5594.7 6486.0 9521.4
3.Gross profit 564.3 550.0 710.8 1168.0 1274.5 1471.6
8.Tax provision 141.3 132.4 195.3 304.4 345.2 6.5
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -626.7 29.1 21.6 63.7 20.7 -28.2
599
Jute
300
250
200
%
150
100
50
0
2003 2004 2005 2006 2007 2008
90 16
80 14
70
12
60
10
Rupees
50
%
8
40
30 6
20
4
10
2
0
2003 2004 2005 2006 2007 2008 0
2003 2004 2005 2006 2007 2008
600
Amin Fabrics Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -163.8 -144.1 -130.1 -156.3 -195.8 -195.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.2 4.0 2.6 11.4 12.0 12.0
(i)Cash 2.0 3.6 2.2 11.4 12.0 12.0
(ii)Investments 0.2 0.4 0.4 0.0 0.0 0.0
3.Inventories 26.7 48.4 33.0 61.1 49.7 49.7
C.Fixed Assets:
4.Total assets (B4+C2) 111.0 121.7 155.8 181.5 179.6 179.6
D.Operation:
1.Gross sales 128.1 127.6 154.8 106.2 166.4 166.4
(i)Local sales 128.1 127.6 154.8 106.2 135.1 135.1
(ii)Export sales 0.0 0.0 0.0 0.0 31.3 31.3
2.Cost of Sales 120.7 127.7 165.5 111.3 183.6 183.6
3.Gross profit 7.4 -0.1 -10.7 -5.1 -17.2 -17.2
8.Tax provision 1.7 0.7 1.0 0.7 1.0 1.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - 56.6 -158.7 90.6 99.0 -5485.7
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -13.7 -0.4 21.3 -31.4 56.7 0.0
601
Crescent Jute Products Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -507.6 -556.2 -245.5 -305.8 -195.5 138.0
3.Shareholder's Equity (A1+A2) -357.0 -405.6 -94.9 -155.2 -44.9 375.6
5.Debentures 0.0 0.0 0.0 40.0 0.0 0.0
8.Total Capital Employed (A3+A7) -357.0 -404.7 0.2 -115.2 -4.9 407.1
B.Liquidity:
1.Liquid Assets: 101.7 54.4 51.3 37.8 80.0 7.3
(i)Cash 33.6 5.2 10.8 4.5 7.6 3.0
(ii)Investments 68.1 49.2 40.5 33.3 72.4 4.3
3.Inventories 27.8 144.5 147.2 126.5 68.9 158.2
C.Fixed Assets:
4.Total assets (B4+C2) 365.9 413.5 593.2 516.3 411.6 823.5
D.Operation:
1.Gross sales 200.1 302.5 471.2 444.0 461.6 711.1
(i)Local sales 200.1 291.0 358.2 337.0 404.9 634.9
(ii)Export sales 0.0 11.5 113.0 107.0 56.7 76.2
2.Cost of Sales 158.8 290.9 455.0 433.9 478.9 656.6
3.Gross profit 41.3 11.6 16.2 10.1 -17.3 54.5
8.Tax provision 0.9 1.5 2.4 2.6 3.1 4.1
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 5.5 -38.0 1.0 -36.7 175.7 41.6
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -237.1 -269.3 -63.0 -103.1 -29.8 158.1
10.Break-up value of ordinary shares (in rupees) -23.7 -26.9 -6.3 -10.3 -3.0 15.8
602
Latif Jute Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -0.2 -11.2 0.3 -0.3 -1.2 0.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.9 0.9 0.1 0.2 0.1 0.0
(i)Cash 1.9 0.9 0.1 0.2 0.1 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 10.5 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 136.2 74.3 64.6 64.5 63.6 63.2
D.Operation:
1.Gross sales 175.1 12.7 0.0 0.0 0.0 0.0
(i)Local sales 175.1 12.7 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 165.9 21.0 0.0 0.0 0.0 0.0
3.Gross profit 9.2 -8.3 0.0 0.0 0.0 0.0
7.Net profit before tax (D5-D6) 4.7 16.1 -2.0 -1.9 -1.0 1.4
8.Tax provision 1.5 0.4 0.0 0.0 0.0 0.2
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - - -15.3 425.0 111.1 100.0
9.Overhead and other expenses as % of gross sales (D4 as % D1) 101.8 239.4 - 0.0 0.0 0.0
11.Financial expense as % of gross sales (D6 as % of D1) 3.7 6.3 - 0.0 0.0 0.0
14.Sundry debtors as % of gross sales 3.6 7.1 - 0.0 0.0 0.0
15.Return on Equity (D7 as % of A3) 13.3 66.0 -5.6 -5.4 -2.9 3.9
3.Net profit margin (D7 as % of D1) 2.7 126.8 - 0.0 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 4.5 -92.7 -100.0 - - -
603
Mehran Jute Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -68.8 -68.8 -68.8 -68.8 -68.8 -68.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.3 0.3 0.3 0.3 0.3 0.3
(i)Cash 0.3 0.3 0.3 0.3 0.3 0.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 17.9 17.9 17.9 17.9 17.9 17.9
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
604
Suhail Jute Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 374.7 386.5 301.0 333.9 383.7 885.5
5.Debentures 0.0 0.0 6.4 6.4 6.4 0.0
B.Liquidity:
1.Liquid Assets: 128.6 133.7 170.2 232.3 302.9 5.0
(i)Cash 4.1 1.5 1.5 10.8 4.5 2.4
(ii)Investments 124.5 132.2 168.7 221.5 298.4 2.6
3.Inventories 40.4 97.1 103.7 63.8 89.6 90.5
9.Net liquid assets (B1-B5) 40.4 7.9 -110.6 -34.9 7.3 -252.5
C.Fixed Assets:
4.Total assets (B4+C2) 525.3 570.9 640.2 652.7 724.1 1203.2
D.Operation:
1.Gross sales 198.2 85.8 208.6 206.0 236.5 253.7
(i)Local sales 190.6 75.2 167.9 185.5 233.8 240.3
(ii)Export sales 7.6 10.6 40.7 20.5 2.7 13.4
2.Cost of Sales 155.7 64.7 202.5 197.5 236.0 244.4
3.Gross profit 42.5 21.1 6.1 8.5 0.5 9.3
7.Net profit before tax (D5-D6) 23.9 22.3 -20.1 4.9 -7.7 24.3
8.Tax provision 0.9 0.5 0.9 1.0 1.2 1.2
2.Retention in business (D7-D8-D9) 20.4 19.9 -22.9 2.0 -8.9 23.1
3.Finance from outside the company (E1-E2) -7.2 -12.1 -62.6 24.0 52.0 494.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 29.4 28.0 -15.2 9.4 -1.8 30.7
5.Return on assets (D7 as % of C4) 4.5 3.9 -3.1 0.8 -1.1 2.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 3.8 2.2 - 20.4 -15.6 4.9
15.Return on Equity (D7 as % of A3) 5.8 5.3 -5.9 1.3 -1.8 2.6
1.Dividend cover ratio [(D7 - D8) as % of D9] 884.6 1147.4 -1105.3 205.3 0.0 0.0
3.Net profit margin (D7 as % of D1) 12.1 26.0 -9.6 2.4 -3.3 9.6
4.Earning per share before tax (D7/No. of ordinary shares) 6.4 5.9 -5.4 1.3 -2.1 6.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 6.1 5.8 -5.6 1.0 -2.4 6.2
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 13.0 -56.7 143.1 -1.2 14.8 7.3
605
Thal Limited ( Thal Jute Mills Ltd.) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 531.1 742.8 1136.4 2362.3 2916.0 3590.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 43.1 41.2 176.0 474.8 1234.5 2096.0
(i)Cash 16.2 5.2 140.3 180.4 865.5 76.3
(ii)Investments 26.9 36.0 35.7 294.4 369.0 2019.7
3.Inventories 462.7 731.0 837.1 1609.5 1465.9 2012.3
C.Fixed Assets:
4.Total assets (B4+C2) 1023.8 1334.5 1652.1 3213.4 3701.1 5635.4
D.Operation:
1.Gross sales 2421.5 3066.2 4045.9 6006.4 6896.0 9861.8
(i)Local sales 2286.3 2767.7 3798.6 5622.2 6431.4 9328.7
(ii)Export sales 135.2 298.5 247.3 384.2 464.6 533.1
2.Cost of Sales 1932.7 2540.4 3346.6 4852.0 5587.5 8436.7
3.Gross profit 488.8 525.8 699.3 1154.4 1308.5 1425.1
8.Tax provision 136.4 129.4 191.0 300.1 339.9 0.0
F.Cash Flow Data
606
Amin Fabrics Ltd.
Ocean Centre, 40-Talpur Road, Karachi.
Mr. Abdul Khaliq(M.D. / C.E.O.) Bank Al-Habib Ltd. M/s. Riaz Ahmed & Co.
Mr. Stuart Fairweather (Interfinco Ltd.)(Director) Habib Bank Ltd.
Mr. Fahim Khan(Director)
Mir. Ghulam Muhammad Khan Talpur(Director)
Mr. Abdul Baseer(Director)
Mr. Javed Hassan(Director)
Mr. Muhammad Yaqoob(Director)

Jute production M.Tons 10,050 3,524
Synthetics M.Tons 1,170 Nil
Crescent Jute Products Ltd.

306, 3rd Floor, Sadiq Trade Centre, 72-main Boulevard, Gulberg, Lahore
Mr. Mazhar Karim(Chairman) The Bank Of Punjab M/s. Naveed Zafar Hussain & Co.
Mr. Humayun Mazhar(Chief Executive) Askari Bank Ltd.
Mr. Amir Hasnain Zaidi(Director) MCB Bank Ltd.
Syed Raza Abbas Jafri (NIT)(Director) The Royal Bank of Scotland Ltd.
Mr. Khalid Bashir(Director)
Mr. Khurram Mazher Karim(Director)
Mr. Rashid M. Hanif(Director)

Sacking including twine M.Tons 18,500 10,663
Hessian M.Tons 4,500 3,566
607
Latif Jute Mills Ltd.
Hub Chowki Village Beirut, Tehsil Hub, Dist. Lasbella, Balochistan.
Mr. Yahya Ahmed Bawany(Chairman) RBS Bank Ltd. M/s. Aslam Malik & Co.
Mr. M. Tariq Bawany(Chief Executive) United Bank Ltd.
Mr. A. Karim M. Yahya(Vice Chairman)
Mr. Amin Abdullah Motan(Director)
Mr. Arif S. Ghazi(Director)
Mr. Arif Yousuf Jaliawala(Director)
Mr. Mohammad Arif Dalia(Director)

Jute spindles and Jute bags M. Tons 8,000 Nil
Mehran Jute Mills Ltd.

Adamjee House 3rd Floor, I.I.Chundrigar Road,Karachi.
Mr. Iqbal Adamjee(Chairman) Standard Chartered Bank Ltd. M/S Akbar G. Marchant & Co.
Mr. Masood Sheik(Chief Executive) MCB Bank Ltd.
Mrs. N. Sheik(Director)
Mr. M. Qamar Khan(Director)
Mr. Anis Wahab Zuberi (NIT)(Director)
Mr. Mushtaq Ahmed(Director)
Mr. Saifullah Khan (PICIC)(Director)


Jute spindles and Jute bags
Note: Failed to hold AGM & non trading
608
Suhail Jute Mills Ltd.
125-Murree Road, Rawalpindi.
Mr. Sohail Farooq Shaikh(Chairman/ C.E.) Habib Bank Ltd. M/s. Anjum Asim Shahid Rahman
Mrs. Neelum Sohail Shaikh(Director) National Bank Of Pakistan
Mrs. Nadia Shaikh(Director)
Mrs Mehreen Haroon Rashid(Director)
Mrs Ambreen Zahid Bashir(Director)
Mrs. Nazifa Khaliq(Director)
Mrs. Sharmeen Azam Jamil(Director)

Jute production (Variety Products) M. Tons 6,000 5,019
Thal Limited ( Thal Jute Mills Ltd.)

4th Floor, House of Habib, 3-Jinnah Cooperative Housing Society, Shahrah-e-Faisal, Karachi.
Mr. Rafiq M. Habib(Chairman) Habib Bank AG. Zurich M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Sohail P. Ahmed(Chief Executive) Habib Bank Ltd.
Mr. Ali S. Habib(Director) Hongkong & Shanghi Banking Corp. Ltd.
Mr. Mohammadali R. Habib(Director) Habib Metropolitan Bank Ltd.
Mr. S. Z. Kazmi(Director) National Bank of Pakistan.
Mr. Mazhar Valjee(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Shahid Mahmood Khan(Director) United Bank Ltd.

Jute M. Tons 33,800 32,038
Auto Air Conditioners Units 90,000 80,921
Wire Harness Units Indeterminable 56,776
609
VANASPATI & ALLIED INDUSTRIES SECTOR
Vanaspati And Allied Industries Sector (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -3588.2 -3192.0 -1496.6 -1296.7 -1674.0 -1736.3
5.Debentures 0.0 0.0 0.0 4.7 0.0 0.0
B.Liquidity:
1.Liquid Assets: 69.5 55.3 94.0 226.6 237.7 162.1
(i)Cash 66.7 52.5 41.2 176.5 187.6 112.0
(ii)Investments 2.8 2.8 52.8 50.1 50.1 50.1
3.Inventories 487.9 439.8 427.1 444.9 440.6 675.1
C.Fixed Assets:
4.Total assets (B4+C2) 2554.2 2589.7 2555.8 2682.3 2008.7 2467.4
D.Operation:
1.Gross sales 6002.0 6360.0 6357.7 6484.0 4029.8 5470.4
(i)Local sales 5888.8 6036.3 5646.9 5703.6 4029.8 5470.4
(ii)Export sales 113.1 323.7 710.8 780.4 0.0 0.0
2.Cost of Sales 5537.9 5971.3 5958.8 5977.3 3787.1 5139.7
3.Gross profit 464.1 388.7 398.9 506.7 242.7 330.7
8.Tax provision 61.8 54.4 62.5 75.3 28.1 39.5
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -149.0 -45.2 1520.3 198.8 -447.6 -139.4
6.Self financing ratio (E2 as % of E1) - - -4.6 -98.6 41.6 23.5
7.Cash flow ratio F1 as % of F2 - - -1.7 -44.7 37.3 5.5
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 225.5 25.4 -1488.1 -111.6 -17.3 -3950.0
1.Dividend cover ratio [(D7 - D8) as % of D9] - 5336.7 -6670.0 0.0 -2245.9 0.0
3.Net profit margin (D7 as % of D1) 0.5 3.4 -0.1 -1.0 -4.0 0.0
611
Vanaspati & Allied Industries

50
40
30
%
20
10
0
2003 2004 2005 2006 2007 2008
4
10
0 3
-10
2
-20
-30 1
Rupees
-40 %
0
-50
-1
-60
-70 -2
-80
-3
-90
2003 2004 2005 2006 2007 2008 -4
2003 2004 2005 2006 2007 2008
612
Fazal Vegetable Ghee Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -69.9 -69.9 -69.9 -69.9 -69.9 -69.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.5 0.5 0.5 0.5 0.5 0.5
(i)Cash 0.4 0.4 0.4 0.4 0.4 0.4
(ii)Investments 0.1 0.1 0.1 0.1 0.1 0.1
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 236.6 236.6 236.6 236.6 236.6 236.6
D.Operation:
1.Gross sales 274.0 274.0 274.0 274.0 274.0 274.0
(i)Local sales 274.0 274.0 274.0 274.0 274.0 274.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 263.3 263.3 263.3 263.3 263.3 263.3
3.Gross profit 10.7 10.7 10.7 10.7 10.7 10.7
8.Tax provision 1.4 1.4 1.4 1.4 1.4 1.4
F.Cash Flow Data
613
Kakakhel Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -226.6 -221.8 -13.9 -41.3 -47.2 -52.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.4 10.2 4.7 5.8 4.0 0.2
(i)Cash 0.4 10.2 4.7 5.8 4.0 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 5.7 5.8 13.2 10.3
C.Fixed Assets:
4.Total assets (B4+C2) 66.5 76.2 173.3 167.6 177.4 186.5
D.Operation:
1.Gross sales 23.8 19.4 21.6 46.0 79.3 213.3
(i)Local sales 23.8 19.4 21.6 46.0 79.3 213.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 15.6 13.5 20.4 48.2 78.5 208.1
3.Gross profit 8.2 5.9 1.2 -2.2 0.8 5.2
8.Tax provision 0.1 0.1 0.1 0.2 0.4 1.0
F.Cash Flow Data
15.Return on Equity (D7 as % of A3) - - -4.9 -28.3 -17.1 -15.6
614
Morafco Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -828.6 -830.3 -831.4 -832.3 -833.5 -834.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.0 0.0 1.3 0.0 0.1
(i)Cash 0.0 0.0 0.0 1.3 0.0 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 5.0 4.5 4.2 4.3 2.8 2.7
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -1.1 -1.4 -0.8 -0.6 -1.0 -1.1
615
Punjab Oil Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 5.8 12.5 -6.5 25.4 125.7 159.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.6 6.1 8.2 8.6 15.5 39.4
(i)Cash 3.9 3.4 5.5 8.6 15.5 39.4
(ii)Investments 2.7 2.7 2.7 0.0 0.0 0.0
3.Inventories 27.1 36.1 54.1 65.9 77.4 97.4
C.Fixed Assets:
4.Total assets (B4+C2) 197.0 210.2 210.5 248.2 383.5 692.2
D.Operation:
1.Gross sales 910.6 1049.4 1178.6 1226.5 1747.5 2509.2
(i)Local sales 910.6 1049.4 1178.6 1226.5 1747.5 2509.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 860.3 1012.1 1143.6 1171.7 1670.9 2386.0
3.Gross profit 50.3 37.3 35.0 54.8 76.6 123.2
8.Tax provision 4.0 4.6 5.1 7.9 10.6 18.8
3.Finance from outside the company (E1-E2) -55.1 -7.3 -36.0 20.7 87.5 -2.7
F.Cash Flow Data
616
S.S. Oil Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 55.1 280.2 267.2 267.0 208.0 220.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 40.5 10.5 10.3 1.5 13.6 61.4
(i)Cash 40.5 10.5 10.3 1.5 13.6 61.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 115.3 106.3 161.8 205.6 245.0 391.0
C.Fixed Assets:
4.Total assets (B4+C2) 513.1 502.3 521.9 648.0 681.6 907.0
D.Operation:
1.Gross sales 905.6 1105.1 622.5 912.0 1026.6 1551.9
(i)Local sales 905.6 1105.1 622.5 912.0 1026.6 1551.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 854.9 1054.6 611.0 874.7 959.7 1464.1
3.Gross profit 50.7 50.5 11.5 37.3 66.9 87.8
8.Tax provision 4.5 7.5 2.8 4.2 4.6 7.0
2.Retention in business (D7-D8-D9) 17.7 224.9 -10.5 -3.2 10.6 12.2
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 99.6 1861.9 - -1100.0 -33.5 97.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 3.1 39.7 -1.9 -0.6 1.9 2.2
617
Universal Oil & Vegetable Ghee Mills Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -1040.4 -1040.4 -1040.4 -1040.4 -1040.4 -1040.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.0 0.0 0.0 0.0 0.0
(i)Cash 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 5.9 5.9 5.9 5.9 5.9 5.9
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 6.5 6.5 6.5 6.5
F.Cash Flow Data
618
Wazir Ali Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -50.7 -57.3 -6.2 -30.2 -78.3 -119.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.0 10.5 57.3 64.2 62.9 60.5
(i)Cash 5.0 10.5 7.3 14.2 12.9 10.5
(ii)Investments 0.0 0.0 50.0 50.0 50.0 50.0
3.Inventories 86.8 56.4 79.6 43.3 104.9 176.3
C.Fixed Assets:
4.Total assets (B4+C2) 301.3 237.2 364.4 316.2 374.3 436.3
D.Operation:
1.Gross sales 1032.2 726.6 1028.0 1150.5 885.1 922.0
(i)Local sales 1032.2 726.6 1028.0 1150.5 885.1 922.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 857.9 630.3 893.6 976.0 796.1 818.2
3.Gross profit 174.3 96.3 134.4 174.5 89.0 103.8
8.Tax provision 10.9 5.4 11.7 10.4 4.5 4.7
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - -95.1 -101.2 95.2 107.9 71.7
7.Cash flow ratio F1 as % of F2 - -95.1 -72.8 94.3 108.5 69.4
10.Financial expenses as % of operating profit (D6 as % of D5) 603.9 - - -8233.3 -109.3 300.0
1.Dividend cover ratio [(D7 - D8) as % of D9] - - - 0.0 -1682.5 0.0
619
Fazal Vegetable Ghee Mills Ltd.
Sector 1-9, Industrial Area, P. O. Box 17,Islamabad.
Mr. Asif Saeed(Chairman / C.E.O.) Allied Bank Of Pakistan Ltd. M/S Muniff Ziauddin & Co.
Syed Muhammad Zaheen(Director) MCB Bank Ltd.
Mr. Luqman Ellahi(Director)
Mr. Shaukat Majeed(Director)
Mrs. Parveen Iftikhar(Director)
Raja Moazzam Ali(Director)
Sh. Iftikhar Ahmad(Director)

Vegatable ghee
Note: Failed to hold AGM for more than
last three years
Kakakhel Pakistan Ltd.

8th K. M. Sargodha Road, Faisalabad.
Sheikh Shoukat Ali(Chairman / C.E.O.) Allied Bank Ltd. M/S Riaz Ahmad & Co.
Sheilh Aftab Ahmad(Director) MCB Bank Ltd.
Mst. Ayesha Bibi(Director) Habib Metropolitan Bank Limted
Mrs. Zobia Kiran(Director)
Sheikh Javaid Iqbal(Director)
Mr. Muhammad Kashif(Director)
Mr. Muhammad Qaiser(Director)

Cooking oil M. Tons 12,000 5,924
Ghee M. Tons 18,000 640
Soap M. Tons 450 270
620
Morafco Industries Ltd.
Ground Floor, NFML Building, 53-Jail Road, Lahore
Maj. Gen (Retd.) Zafar Abbas(Chairman) MCB Bank Ltd. M/s. Shafiq & Co.
Mr. Muhammad Aslam(M.D. / C.E.O.) Soneri Bank Ltd.
Mr. M. Adil Mannoo(Director)
Mr. T. I. Chaughtai(Director)
Mr. Mumtaz Hussain Balouch(Director)
Mst. Humaira Monnoo(Director)
Mr. Asim Rizvi(Director)

Ghee production M. Tons 20,000 Nil
Punjab Oil Mills Ltd.

26,27,28, Industrial Triangle, Kahuta Road, Islamabad.
Mr. Tahir Jahangir(Chairman) Faysal Bank Ltd. M/s. Qadeer & Co.
Mr. Izaz Ilahi Malik(M.D. / C.E.O.) United Bank Ltd.
Ch. Muhammad Sarwar(Director)
Mr. Firasat Ali (NIT)(Director)
Mr. Gul Nawaz (NIT)(Director)
Sh. Anwar Ahmad Batla(Director)
Mr. Usman Ilahi Malik(Director)

Ghee/Margerin M.Tons 20,000 18,360
Cooking Oil M.Tons 5,000 5,679
621
S.S. Oil Mills Ltd.
31-D, New Muslim Town, Lahore.
Nawabzada Shahzad Ali Khan(Chairman / C.E.O The Bank Of Punjab M/s. Aslam Malik & Co.
Mr. Shaharyar Ali Khan(Director) Saudi Pak Comm. Bank Ltd.
Chaudhry Mohammad Humayun(Director) MCB Bank Ltd.
Mr. Ahsan-ud-Din(Director)
Khalifa Mohammad Hasan Saeed(Director)
Mr. Safdar Iqbal Khan(Director)
Mr. Wajahat Ali Khan(Director)

Oil from Sunflower Seed M.Tons 20,000 3,516
Oil from Rape Seed M.Tons 40,000 32,388
Cotton Seed M.Tons 19,500 2,630
Universal Oil & Vegetable Ghee Mills Ltd.

Lahore Sheikhupura Road, More Jaiyanwala, Distt: Sheikhupura.
Major Gen. (Retd.) Muhammad Mohsin(Chairma National Bank Of Pakistan M/S Kamran & Co.
Mr. Mumtaz Hussain Balouch(Managing Director United Bank Ltd.
Syed Jamal Ali Shah(Director)
Mr. Maqbool Sadiq(Director)
Mr. Muhammad Aslam(Director)
Mr. Abdul Mannan(Director)
Rana Ahmad Khan(Director)

Vegatable ghee
Note: Failed to hold AGM for more than
last three years.
622
Wazir Ali Industries Ltd.
F-33, Hub River Road, S.I.T.E, Karachi.
Syed Yawar Ali(Chairman) The Royal Bank of Scotland Ltd. KPMG Taseer Hadi & Co.
Mr. Abdus Samad(Chief Executive) Habib Bank Ltd.
Mr. Abdul Rashid Janmohammad(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Perwaiz Hasan Khan(Director) MCB Bank Ltd.
Mr. Mohammad Bashir Janmohammad(Director Natioanl Bank of Paksitan
Mr. Mohammad Rabbani(Director)
Mr. Perwaiz Masud Ansari(Director)

Vanaspati-Ghee & cooking oil M. Tons 30,000 22,021
623
MISCELLENEOUS SECTOR
Miscelleneous Sector (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 11281.2 15470.6 22896.9 26044.3 32353.7 38559.9
5.Debentures 33.3 699.6 499.7 299.8 99.9 1499.4
B.Liquidity:
1.Liquid Assets: 3866.2 4202.0 4720.4 5854.4 8973.9 12731.6
(i)Cash 2809.0 3306.1 3093.4 3727.2 4169.9 4100.4
(ii)Investments 1057.2 895.9 1627.0 2127.2 4804.0 8631.2
3.Inventories 9028.7 10210.6 10870.2 14193.0 16675.3 23934.2
7.Net Current Assets(B4-B5) 1611.7 3269.3 2670.1 -2941.4 -636.7 7605.8
C.Fixed Assets:
4.Total assets (B4+C2) 40617.9 49104.3 62875.5 76555.7 93023.4 114104.5
D.Operation:
1.Gross sales 65308.4 72640.0 87171.5 110281.7 131871.5 162877.9
(i)Local sales 62514.8 69142.2 82957.1 105161.4 125413.4 155314.5
(ii)Export sales 2793.6 3497.8 4214.4 5120.3 6458.1 7563.4
2.Cost of Sales 48314.9 55573.1 65776.1 83289.6 98764.6 123838.1
3.Gross profit 16993.6 17066.9 21395.4 26992.1 33106.9 39039.8
8.Tax provision 2000.8 1836.0 2125.3 2320.6 2919.6 3932.7
F.Cash Flow Data
625
Miscellaneous

140
120
100
80
%
60
40
20
0
2003 2004 2005 2006 2007 2008
45 30
40
25
35
30 20
Rupees
25
%
15
20
15
10
10
5 5
0
2003 2004 2005 2006 2007 2008 0
2003 2004 2005 2006 2007 2008
626
AKD Capital Ltd. (Akd Securities & Safe Deposit Co. Ltd.) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 2.5 6.2 25.3 -1.3 -7.1 -7.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.2 9.0 32.1 2.2 1.6 1.6
(i)Cash 5.2 1.6 32.1 2.1 1.5 1.5
(ii)Investments 0.0 7.4 0.0 0.1 0.1 0.1
3.Inventories 0.0 0.0 115.0 0.0 5.0 5.0
C.Fixed Assets:
4.Total assets (B4+C2) 5.6 9.5 151.1 105.5 43.2 43.2
D.Operation:
1.Gross sales 1.8 0.0 3.1 0.0 0.0 0.0
(i)Local sales 1.8 0.0 3.1 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.4 0.0 1.2 0.0 0.0 0.0
3.Gross profit 1.4 0.0 1.9 0.0 0.0 0.0
8.Tax provision 0.1 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 100.0 102.6 -1.2 116.3 71.2 -233.3
9.Overhead and other expenses as % of gross sales (D4 as % D1) 27.8 - 119.4 0.0 0.0 0.0
11.Financial expense as % of gross sales (D6 as % of D1) 0.0 - 0.0 0.0 0.0 0.0
14.Sundry debtors as % of gross sales 0.0 - 0.0 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) 72.2 - -19.4 0.0 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -98.6 -100.0 - -100.0 - -
627
Al-Khair Gadoon Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 28.8 27.6 30.9 33.3 39.6 39.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 30.6 30.9 31.9 31.9 32.2 31.5
(i)Cash 0.6 0.9 1.9 1.9 2.2 0.9
(ii)Investments 30.0 30.0 30.0 30.0 30.0 30.6
3.Inventories 35.9 37.5 56.8 73.9 107.3 123.3
C.Fixed Assets:
4.Total assets (B4+C2) 152.9 154.6 191.6 211.3 254.2 280.3
D.Operation:
1.Gross sales 68.3 63.5 82.3 179.8 275.2 259.7
(i)Local sales 68.3 63.5 82.3 179.8 275.2 259.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 58.9 55.1 71.3 155.6 238.3 223.8
3.Gross profit 9.4 8.4 11.0 24.2 36.9 35.9
8.Tax provision 0.8 1.7 1.8 1.5 1.4 1.8
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -3.4 -1.2 3.3 2.4 9.0 -1.5
F.Cash Flow Data
628
Arpak International InvestmentsLtd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 47.0 47.0 48.5 52.1 53.3 56.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 79.5 77.0 80.7 83.7 86.2 41.3
(i)Cash 62.2 61.8 54.6 59.8 62.1 2.0
(ii)Investments 17.3 15.2 26.1 23.9 24.1 39.3
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 90.5 89.7 92.2 93.8 95.6 98.8
D.Operation:
1.Gross sales 4.7 2.0 3.9 6.4 8.4 8.0
(i)Local sales 4.7 2.0 3.9 6.4 8.4 8.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1.4 2.3 0.7 0.0 0.6 1.1
3.Gross profit 3.3 -0.3 3.2 6.4 7.8 6.9
8.Tax provision 0.4 0.0 0.6 1.3 1.8 1.4
F.Cash Flow Data
629
Balochistan Glass Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 43.0 -15.2 13.2 44.2 -49.5 -505.8
5.Debentures 33.3 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4.8 3.9 4.4 12.6 13.9 17.2
(i)Cash 4.8 3.9 4.4 12.6 13.9 17.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 271.5 387.1 517.7 554.8 603.2 586.5
C.Fixed Assets:
4.Total assets (B4+C2) 1529.6 1899.4 2068.6 2366.4 2772.9 2751.4
D.Operation:
1.Gross sales 590.7 1033.2 1295.0 1322.3 1369.9 1345.5
(i)Local sales 494.2 648.2 1123.1 1219.6 1030.1 1140.6
(ii)Export sales 96.5 385.0 171.9 102.7 339.8 204.9
2.Cost of Sales 438.6 771.5 1031.9 1094.4 1201.2 1524.6
3.Gross profit 152.1 261.7 263.1 227.9 168.7 -179.1
8.Tax provision 2.6 6.7 6.6 5.8 6.2 5.9
F.Cash Flow Data
630
Bata Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 429.1 533.7 609.1 622.0 897.4 1360.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 75.9 59.9 55.5 104.9 271.5 119.7
(i)Cash 57.2 40.5 35.0 82.8 247.7 89.0
(ii)Investments 18.7 19.4 20.5 22.1 23.8 30.7
3.Inventories 547.8 541.2 606.8 716.7 770.0 1274.3
C.Fixed Assets:
4.Total assets (B4+C2) 1283.5 1272.3 1363.9 1414.6 1873.0 2277.0
D.Operation:
1.Gross sales 2669.5 2722.3 2934.6 3309.6 4271.9 5521.1
(i)Local sales 2562.6 2548.9 2734.9 3118.5 4085.7 5347.2
(ii)Export sales 106.9 173.4 199.7 191.1 186.2 173.9
2.Cost of Sales 1902.1 1886.5 1997.2 2196.8 2634.8 3357.0
3.Gross profit 767.4 835.8 937.4 1112.8 1637.1 2164.1
8.Tax provision 54.6 60.6 54.4 64.7 137.3 173.3
F.Cash Flow Data
631
Clover Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 62.7 87.7 159.5 203.8 251.5 300.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 87.0 122.9 197.6 255.6 363.7 218.7
(i)Cash 87.0 122.9 172.6 230.6 92.5 72.9
(ii)Investments 0.0 0.0 25.0 25.0 271.2 145.8
3.Inventories 72.3 86.9 72.4 105.8 104.9 208.9
9.Net liquid assets (B1-B5) -45.0 -25.0 76.7 44.7 106.0 -30.4
C.Fixed Assets:
4.Total assets (B4+C2) 235.5 291.0 335.3 469.4 574.7 628.3
D.Operation:
1.Gross sales 609.9 654.2 744.7 943.1 1159.0 1383.2
(i)Local sales 609.9 654.2 744.7 939.8 1159.0 1383.2
(ii)Export sales 0.0 0.0 0.0 3.3 0.0 0.0
2.Cost of Sales 399.1 423.2 494.1 633.0 787.7 1008.5
3.Gross profit 210.8 231.0 250.6 310.1 371.3 374.7
8.Tax provision 34.2 32.0 38.1 41.0 48.0 38.7
F.Cash Flow Data
632
Dadabhoy Construction Tech. Ltd.(Pak German Prefabs Ltd.) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -64.9 -66.6 -71.9 -67.9 -67.4 -66.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.0 2.3 2.6 0.6 0.7
(i)Cash 0.0 0.0 2.3 2.6 0.6 0.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.2 0.0 2.2 4.5 4.3 4.8
C.Fixed Assets:
4.Total assets (B4+C2) 15.5 13.8 18.2 14.7 12.9 13.8
D.Operation:
1.Gross sales 0.0 0.0 6.0 4.7 4.8 3.4
(i)Local sales 0.0 0.0 6.0 4.7 4.8 3.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 1.9 2.1 2.8 1.5
3.Gross profit 0.0 0.0 4.1 2.6 2.0 1.9
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
3.Net profit margin (D7 as % of D1) - - -80.0 85.1 12.5 32.4
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - -21.7 2.1 -29.2
633
Diamond Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 184.6 209.9 279.7 269.3 293.6 257.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 87.1 66.0 33.1 67.7 95.6 88.3
(i)Cash 42.9 2.0 1.3 0.8 0.5 0.7
(ii)Investments 44.2 64.0 31.8 66.9 95.1 87.6
3.Inventories 24.3 28.1 10.9 4.7 0.8 0.0
9.Net liquid assets (B1-B5) 42.1 51.5 -25.7 14.8 54.9 41.7
C.Fixed Assets:
4.Total assets (B4+C2) 319.6 314.4 428.5 412.2 424.3 394.2
D.Operation:
1.Gross sales 26.6 271.8 158.3 24.4 6.3 0.0
(i)Local sales 26.6 269.6 158.3 24.4 6.3 0.0
(ii)Export sales 0.0 2.2 0.0 0.0 0.0 0.0
2.Cost of Sales 22.8 356.9 218.7 32.3 15.8 9.5
3.Gross profit 3.8 -85.1 -60.4 -7.9 -9.5 -9.5
7.Net profit before tax (D5-D6) 3.3 -37.5 0.1 -12.9 -0.8 -27.9
8.Tax provision 0.5 1.2 1.2 0.3 0.1 0.3
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 1.0 -11.9 0.0 -3.1 -0.2 -7.1
6.Self financing ratio (E2 as % of E1) - -153.0 -1.6 126.9 -3.7 78.3
10.Financial expenses as % of operating profit (D6 as % of D5) 10.8 - 98.7 -0.8 -100.0 0.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 15.2 - 1200.0 -2.3 -12.5 -1.1
15.Return on Equity (D7 as % of A3) 1.2 -12.5 0.0 -3.6 -0.2 -8.0
3.Net profit margin (D7 as % of D1) 12.4 -13.8 0.1 -52.9 -12.7 0.0
4.Earning per share before tax (D7/No. of ordinary shares) 0.4 -4.2 0.0 -1.4 -0.1 -3.1
634
Dreamworld Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 9.1 10.1 16.9 25.2 28.4 20.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4.4 4.2 5.3 11.7 11.6 7.3
(i)Cash 4.4 4.2 5.3 11.7 11.6 7.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 2.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 364.4 376.6 392.1 441.1 488.8 476.5
D.Operation:
1.Gross sales 105.5 167.5 239.1 435.4 391.4 321.6
(i)Local sales 105.5 167.5 239.1 435.4 391.4 321.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 90.3 147.3 206.1 369.7 322.2 272.4
3.Gross profit 15.2 20.2 33.0 65.7 69.2 49.2
8.Tax provision 0.6 0.8 1.1 2.4 2.0 1.6
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - 300.0 -25.0 0.0 0.0 -200.0
635
Eco Pack Ltd.( Plastobag Ltd.) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 50.3 200.1 202.7 249.3 187.9 108.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.8 3.0 2.5 7.0 3.1 36.3
(i)Cash 0.8 3.0 2.5 7.0 3.1 36.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 48.3 75.7 169.2 227.0 386.4 319.7
C.Fixed Assets:
4.Total assets (B4+C2) 391.7 757.9 1037.0 1310.5 1786.7 1795.5
D.Operation:
1.Gross sales 340.2 509.6 865.9 1341.8 1463.4 2056.6
(i)Local sales 340.2 509.6 865.9 1341.8 1463.4 2056.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 270.8 399.0 710.7 1099.3 1262.7 1907.9
3.Gross profit 69.4 110.6 155.2 242.5 200.7 148.7
8.Tax provision 2.0 2.2 3.8 5.8 6.3 8.8
F.Cash Flow Data
636
Emco Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -359.9 -249.4 84.6 20.6 288.1 264.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -30.1 -82.1 445.4 362.4 720.9 762.3
B.Liquidity:
1.Liquid Assets: 1.9 13.1 23.4 35.2 50.3 38.6
(i)Cash 1.9 13.1 23.4 35.2 50.3 38.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 204.9 202.7 215.3 289.0 292.3 361.0
C.Fixed Assets:
4.Total assets (B4+C2) 772.3 893.6 1233.7 1364.5 1680.3 1921.3
D.Operation:
1.Gross sales 694.8 857.6 1014.4 1179.0 1373.5 1427.8
(i)Local sales 587.1 760.2 906.5 1014.5 1223.0 1348.6
(ii)Export sales 107.7 97.4 107.9 164.5 150.5 79.2
2.Cost of Sales 553.9 662.7 793.3 967.0 1109.1 1160.6
3.Gross profit 140.9 194.9 221.1 212.0 264.4 267.2
7.Net profit before tax (D5-D6) -10.7 38.1 105.2 -14.4 10.9 -15.5
8.Tax provision 3.1 3.8 4.5 6.7 6.0 6.3
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -1.4 4.3 8.5 -1.1 0.6 -0.8
7.Cash flow ratio F1 as % of F2 10.8 - 25.0 -415.8 28.1 52.6
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 10.0 4.3 -46.5 55.0 -40.6
15.Return on Equity (D7 as % of A3) - - 44.2 -8.3 2.5 -3.7
3.Net profit margin (D7 as % of D1) -1.5 4.4 10.4 -1.2 0.8 -1.1
4.Earning per share before tax (D7/No. of ordinary shares) -0.7 2.5 6.9 -0.9 0.7 -1.0
637
Fateh Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -131.7 -139.7 -181.8 -187.9 -189.9 -188.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.1 0.0 0.0 0.0 0.1 0.2
(i)Cash 0.1 0.0 0.0 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.1 0.2
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 215.1 208.0 166.4 161.3 155.3 158.8
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 1.5 -22.1 -49.2 -6.1 -2.0 1.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -0.7 1.5 -33.5 -1.5 2.0 4.9
2.Depreciation for the year plus changes in capital employed (C3+E1) 1.5 -12.6 -40.6 -1.5 2.1 4.9
10.Financial expenses as % of operating profit (D6 as % of D5) 102.0 - - -13.0 0.0 0.0
638
Frontier Ceramics Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 196.8 223.9 77.3 58.2 38.9 -66.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.7 0.7 0.0 0.5 0.3 1.0
(i)Cash 6.7 0.7 0.0 0.5 0.3 1.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 169.6 170.3 48.5 61.1 91.2 57.9
C.Fixed Assets:
4.Total assets (B4+C2) 594.9 643.1 481.3 483.4 540.6 445.1
D.Operation:
1.Gross sales 144.3 49.7 0.0 5.4 56.7 94.3
(i)Local sales 143.8 49.7 0.0 5.4 56.7 94.3
(ii)Export sales 0.5 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 117.8 57.8 0.0 10.0 62.6 179.2
3.Gross profit 26.5 -8.1 0.0 -4.6 -5.9 -84.9
8.Tax provision 0.6 0.2 0.0 0.0 0.2 0.4
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -53.3 121.1 -287.5 -22.1 -5.7 193.0
6.Self financing ratio (E2 as % of E1) - -29.1 - 39.4 91.2 -59.0
7.Cash flow ratio F1 as % of F2 - -15.0 - 39.4 70.2 -46.8
9.Overhead and other expenses as % of gross sales (D4 as % D1) 101.2 162.2 - 266.7 131.4 218.1
11.Financial expense as % of gross sales (D6 as % of D1) 4.4 8.5 - 0.0 0.4 0.2
14.Sundry debtors as % of gross sales 44.6 124.7 - 1161.1 126.8 24.4
3.Net profit margin (D7 as % of D1) -4.4 -62.8 - -161.1 -30.7 -111.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -2.7 -65.6 -100.0 - 950.0 66.3
639
Gammon Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 28.9 3.4 -3.6 83.9 70.3 62.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 21.9 43.5 52.5 74.7 55.0 83.6
(i)Cash 0.2 21.8 30.8 58.9 48.5 22.2
(ii)Investments 21.7 21.7 21.7 15.8 6.5 61.4
3.Inventories 4.6 0.7 0.0 197.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 205.6 234.8 266.4 447.3 552.2 571.0
D.Operation:
1.Gross sales 61.2 59.6 257.0 532.2 795.4 412.3
(i)Local sales 61.2 59.6 257.0 532.2 795.4 412.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 65.0 63.5 241.9 491.4 749.8 375.8
3.Gross profit -3.8 -3.9 15.1 40.8 45.6 36.5
8.Tax provision 1.9 5.7 10.5 16.0 31.9 6.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -50.3 -5.0 -1.3 90.9 -8.8 27.4
15.Return on Equity (D7 as % of A3) -84.5 -38.4 7.1 10.1 20.7 -24.4
640
Ghani Glass Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 448.1 570.9 755.0 1581.1 1737.3 2076.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 211.6 56.7 57.2 32.5 139.8 50.7
(i)Cash 136.6 56.7 7.2 32.5 133.2 44.1
(ii)Investments 75.0 0.0 50.0 0.0 6.6 6.6
3.Inventories 62.2 246.9 256.1 462.6 550.8 658.1
C.Fixed Assets:
4.Total assets (B4+C2) 676.3 1096.3 1381.6 3478.6 3975.6 4680.5
D.Operation:
1.Gross sales 632.2 959.7 1617.8 3106.0 3594.4 4621.2
(i)Local sales 631.8 917.8 1562.9 2886.9 3212.9 3960.9
(ii)Export sales 0.4 41.9 54.9 219.1 381.5 660.3
2.Cost of Sales 419.5 679.4 1258.6 2396.5 2817.3 3376.9
3.Gross profit 212.7 280.3 359.2 709.5 777.1 1244.3
8.Tax provision 1.6 31.7 78.4 15.4 14.4 131.0
F.Cash Flow Data
641
Gillette Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 46.5 20.2 36.1 60.3 37.3 71.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 143.3 206.4 245.0 21.2 131.0 68.3
(i)Cash 104.6 170.2 232.0 21.2 131.0 68.3
(ii)Investments 38.7 36.2 13.0 0.0 0.0 0.0
3.Inventories 78.8 35.5 18.7 66.9 129.2 143.4
9.Net liquid assets (B1-B5) -0.9 131.3 137.1 -70.8 -173.8 -111.2
C.Fixed Assets:
4.Total assets (B4+C2) 382.7 287.3 336.1 344.2 534.1 443.2
D.Operation:
1.Gross sales 630.5 572.9 817.7 662.1 743.8 1449.3
(i)Local sales 630.5 572.9 817.7 662.1 743.8 1449.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 370.2 419.7 618.5 491.4 577.6 1118.5
3.Gross profit 260.3 153.2 199.2 170.7 166.2 330.8
8.Tax provision 26.0 21.8 37.5 34.2 50.7 65.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -3.5 -26.3 15.9 24.2 -23.0 34.4
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -5.7 -9.1 42.7 -19.0 12.3 94.9
642
Goodluck Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 6.5 7.7 9.0 9.9 6.1 7.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.3 0.4 0.3 0.5 1.8 5.1
(i)Cash 0.3 0.4 0.3 0.5 1.8 5.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 11.1 11.8 9.9 10.2 12.3 6.9
C.Fixed Assets:
4.Total assets (B4+C2) 16.0 18.0 15.6 16.0 18.5 17.5
D.Operation:
1.Gross sales 207.8 194.7 219.7 238.0 238.9 301.7
(i)Local sales 207.8 194.7 219.7 238.0 238.9 301.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 201.0 188.0 212.9 231.3 230.5 292.6
3.Gross profit 6.8 6.7 6.8 6.7 8.4 9.1
8.Tax provision 1.0 1.0 1.1 1.2 1.2 1.5
F.Cash Flow Data
643
Grays Of Cambridge (Pakistan) Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 133.3 228.8 283.4 263.4 252.3 232.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 194.6 123.0 134.8 134.2 133.3 106.2
(i)Cash 12.0 46.0 14.2 32.3 27.3 4.2
(ii)Investments 182.6 77.0 120.6 101.9 106.0 102.0
3.Inventories 30.4 40.8 47.8 51.9 55.1 63.9
C.Fixed Assets:
4.Total assets (B4+C2) 292.0 291.6 314.0 297.4 290.1 268.0
D.Operation:
1.Gross sales 100.8 97.2 100.5 120.3 130.1 138.6
(i)Local sales 0.9 2.2 0.0 4.0 6.7 5.2
(ii)Export sales 99.9 95.0 100.5 116.3 123.4 133.4
2.Cost of Sales 65.5 63.4 61.1 74.6 84.4 89.7
3.Gross profit 35.3 33.8 39.4 45.7 45.7 48.9
8.Tax provision 4.2 3.3 2.7 4.1 3.3 2.5
F.Cash Flow Data
644
Haji Dossa Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -3.1 -3.1 3.4 3.5 3.2 3.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.9 3.9 6.8 5.3 4.5 6.5
(i)Cash 0.4 0.4 3.3 1.8 1.0 3.0
(ii)Investments 3.5 3.5 3.5 3.5 3.5 3.5
3.Inventories 3.8 2.3 3.0 49.3 7.8 33.2
C.Fixed Assets:
4.Total assets (B4+C2) 14.4 8.2 18.9 63.6 22.6 57.7
D.Operation:
1.Gross sales 84.8 84.8 103.7 34.1 106.9 101.2
(i)Local sales 84.8 84.8 103.7 34.1 106.9 101.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 79.3 79.3 90.6 24.3 98.5 89.3
3.Gross profit 5.5 5.5 13.1 9.8 8.4 11.9
8.Tax provision 0.7 0.7 1.0 0.8 0.9 0.8
F.Cash Flow Data
2.Dividend ratio to equity (D9 as % of A3) 0.0 -4121.1 0.0 0.0 9.8 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -100.0 - 0.0 -55.8 -52.9 25.0
645
Hashimi Can Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 48.9 49.0 44.3 34.3 21.8 12.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.1 2.4 1.1 0.3 0.4 0.1
(i)Cash 0.1 2.4 1.1 0.3 0.4 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 10.3 10.4 10.8 11.1 8.7 8.7
C.Fixed Assets:
4.Total assets (B4+C2) 135.7 136.3 134.0 131.2 128.2 128.0
D.Operation:
1.Gross sales 60.5 72.2 60.3 36.0 25.1 14.7
(i)Local sales 57.9 67.3 53.9 32.6 20.2 6.2
(ii)Export sales 2.6 4.9 6.4 3.4 4.9 8.5
2.Cost of Sales 52.5 59.5 52.7 33.7 25.0 16.9
3.Gross profit 8.0 12.7 7.6 2.3 0.1 -2.2
8.Tax provision 0.3 0.0 0.0 0.0 1.0 0.1
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -11.0 9.2 - 100.0 100.9 101.1
646
Haydari Construction Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -12.2 -12.0 -12.7 -13.1 -13.3 -13.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.1 1.4 0.5 0.2 0.1 0.2
(i)Cash 1.1 1.4 0.5 0.2 0.0 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.1 0.1
3.Inventories 0.0 12.7 12.7 0.0 0.0 12.7
C.Fixed Assets:
4.Total assets (B4+C2) 27.6 27.7 27.0 26.6 26.4 26.5
D.Operation:
1.Gross sales 2.2 1.3 0.1 0.0 0.0 0.0
(i)Local sales 2.2 1.3 0.1 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1.4 0.7 0.2 0.0 0.0 0.0
3.Gross profit 0.8 0.6 -0.1 0.0 0.0 0.0
8.Tax provision 0.1 0.2 0.0 0.0 0.0 0.0
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -62.1 -40.9 -92.3 -100.0 - -
647
Indus Fruit Products Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -33.3 -55.3 -76.6 -91.4 -119.0 -148.2
3.Shareholder's Equity (A1+A2) 56.7 34.7 13.4 -1.4 -29.0 -58.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.3 2.4 2.4 3.7 3.1 2.9
(i)Cash 1.0 0.1 0.1 1.4 3.1 0.6
(ii)Investments 2.3 2.3 2.3 2.3 0.0 2.3
3.Inventories 28.4 23.9 13.6 11.0 11.2 31.6
C.Fixed Assets:
4.Total assets (B4+C2) 161.4 153.4 133.6 138.5 171.4 182.0
D.Operation:
1.Gross sales 2.5 33.3 12.4 24.2 46.9 119.3
(i)Local sales 1.5 33.3 9.3 20.4 46.9 117.0
(ii)Export sales 1.0 0.0 3.1 3.8 0.0 2.3
2.Cost of Sales 7.3 40.3 30.7 41.7 69.4 140.3
3.Gross profit -4.8 -7.0 -18.3 -17.5 -22.5 -21.0
8.Tax provision 0.0 0.2 0.1 0.1 0.2 0.6
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 103.4 -44.0 -43.2 -25.8 -27.6 -29.2
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 117.1 -31.4 -31.8 -15.4 -18.2 -15.6
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 63.0 38.6 14.9 -1.6 -32.2 -64.7
15.Return on Equity (D7 as % of A3) -16.6 -28.0 -167.2 0.0 0.0 0.0
10.Break-up value of ordinary shares (in rupees) 6.3 3.9 1.5 -0.2 -3.2 -6.5
648
Ismail Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 204.2 137.3 167.1 202.9 448.7 400.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.2 23.3 20.8 50.1 127.7 1137.0
(i)Cash 7.2 23.3 20.8 46.4 46.9 28.5
(ii)Investments 0.0 0.0 0.0 3.7 80.8 1108.5
3.Inventories 246.1 379.3 455.9 804.5 1213.1 1587.1
7.Net Current Assets(B4-B5) 119.0 27.9 -47.6 -197.7 385.2 480.1
C.Fixed Assets:
4.Total assets (B4+C2) 823.6 1328.8 1727.1 2341.3 3790.6 4576.1
D.Operation:
1.Gross sales 982.3 1389.6 1934.9 2207.3 3001.4 4192.3
(i)Local sales 787.8 1147.5 1593.3 1925.8 2706.9 3792.5
(ii)Export sales 194.5 242.1 341.6 281.5 294.5 399.8
2.Cost of Sales 804.4 1188.9 1679.7 1884.9 2478.4 3449.4
3.Gross profit 177.9 200.7 255.2 322.4 523.0 742.9
8.Tax provision 5.3 7.0 9.9 11.2 14.7 19.9
F.Cash Flow Data
649
Karam Ceramics Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 61.4 64.7 170.4 141.3 158.5 148.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 18.9 15.1 23.2 24.8 14.5 34.4
(i)Cash 18.9 15.1 23.2 24.8 14.5 34.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 50.9 54.9 51.4 73.1 59.1 44.4
C.Fixed Assets:
4.Total assets (B4+C2) 533.9 568.9 708.1 701.9 828.5 883.7
D.Operation:
1.Gross sales 635.1 597.4 730.8 783.5 744.9 834.5
(i)Local sales 635.1 597.4 730.8 783.5 744.9 834.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 535.8 501.5 593.6 638.6 645.6 695.6
3.Gross profit 99.3 95.9 137.2 144.9 99.3 138.9
8.Tax provision 2.5 2.4 3.0 26.7 4.7 3.9
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 25.4 35.4 -68.7 -3.9 -12.1
650
Leather Up Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 13.2 2.3 2.3 -11.1 -18.1 -24.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 44.7 25.4 25.4 18.7 17.9 20.9
(i)Cash 44.7 25.4 25.4 18.7 17.9 20.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 36.0 35.7 35.7 30.7 26.5 24.6
C.Fixed Assets:
4.Total assets (B4+C2) 112.8 93.1 93.1 73.1 68.0 66.9
D.Operation:
1.Gross sales 80.8 33.7 33.7 35.4 30.5 15.2
(i)Local sales 0.0 33.7 33.7 35.4 30.5 15.2
(ii)Export sales 80.8 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 73.7 35.1 35.1 29.4 31.5 17.3
3.Gross profit 7.1 -1.4 -1.4 6.0 -1.0 -2.1
8.Tax provision 0.6 0.4 0.4 0.3 0.3 0.1
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -18.2 -10.5 0.7 -12.9 -6.6 -5.5
1.Dividend cover ratio [(D7 - D8) as % of D9] - -250.0 - 0.0 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -11.5 -58.3 0.0 5.0 -13.8 -50.2
651
MACPAC Films Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - 122.3 160.9 -45.0 -158.0 -320.6
5.Debentures - 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - 1.0 1.7 6.2 1.3 62.8
(i)Cash - 1.0 1.7 6.2 1.3 62.8
(ii)Investments - 0.0 0.0 0.0 0.0 0.0
3.Inventories - 62.6 80.9 50.2 40.4 35.1
7.Net Current Assets(B4-B5) - -36.1 -171.4 -667.8 -371.9 -338.1
C.Fixed Assets:
4.Total assets (B4+C2) - 1314.9 1676.7 1560.5 1387.9 1133.6
D.Operation:
1.Gross sales - 333.6 109.6 546.8 468.1 404.9
(i)Local sales - 333.6 109.6 541.0 463.9 402.2
(ii)Export sales - 0.0 0.0 5.8 4.2 2.7
2.Cost of Sales - 268.7 106.3 539.5 521.8 433.7
3.Gross profit - 64.9 3.3 7.3 -53.7 -28.8
5.Operating profit - 38.5 20.4 -16.2 -80.6 -133.7
7.Net profit before tax (D5-D6) - 35.5 7.9 -89.0 -202.0 -230.5
8.Tax provision - 0.8 1.9 2.4 2.1 1.7
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - 171.2 -553.4 169.2 -370.6
2.Retention in business (D7-D8-D9) - 34.7 6.0 -91.4 -204.1 -232.2
3.Finance from outside the company (E1-E2) - - 165.2 -462.0 373.3 -138.4
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - 51.0 18.0 7.2 -72.8 -134.0
2.Depreciation for the year plus changes in capital employed (C3+E1) - - 183.2 -454.8 300.5 -272.4
5.Return on assets (D7 as % of C4) - 2.7 0.5 -5.7 -14.6 -20.3
10.Financial expenses as % of operating profit (D6 as % of D5) - 7.8 61.3 -449.4 -150.6 -72.4
15.Return on Equity (D7 as % of A3) - 6.9 1.4 -25.9 -87.5 -337.5
3.Net profit margin (D7 as % of D1) - 10.6 7.2 -16.3 -43.2 -56.9
4.Earning per share before tax (D7/No. of ordinary shares) - 0.9 0.2 -2.3 -5.2 -5.9
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - 0.9 0.2 -2.4 -5.2 -6.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - -77.8 -1250.0 126.1 13.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - -67.1 398.9 -14.4 -13.5
652
Macdonald Layton & Company Ltd. (MLC) (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -119.8 -133.1 -133.1 -146.0 -146.0 -146.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4.6 4.6 4.6 4.8 4.8 4.8
(i)Cash 0.0 0.0 0.0 0.2 0.2 0.2
(ii)Investments 4.6 4.6 4.6 4.6 4.6 4.6
3.Inventories 0.0 0.0 0.0 3.9 3.9 3.9
C.Fixed Assets:
4.Total assets (B4+C2) 59.3 55.6 55.6 52.3 52.3 52.3
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -454.5 -7.6 -640.0 4.8 -577.8 -577.8
653
Mandviwala Mauser Plastic Industries Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -197.0 -244.8 -296.4 -192.3 -233.0 -258.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.3 2.4 1.5 1.5 3.2 1.7
(i)Cash 2.3 2.4 1.5 1.5 3.2 1.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 11.9 11.9 20.8 16.0 21.3 39.3
C.Fixed Assets:
4.Total assets (B4+C2) 297.8 268.4 257.7 247.9 265.3 261.9
D.Operation:
1.Gross sales 299.1 271.0 299.7 230.5 303.1 249.2
(i)Local sales 286.7 263.1 289.2 225.5 298.6 248.1
(ii)Export sales 12.4 7.9 10.5 5.0 4.5 1.1
2.Cost of Sales 237.0 245.7 286.6 188.2 276.5 227.1
3.Gross profit 62.1 25.3 13.1 42.3 26.6 22.1
5.Operating profit 18.7 -28.0 -43.0 56.6 -19.8 -23.0
7.Net profit before tax (D5-D6) 12.2 -35.2 -53.6 49.4 -23.0 -24.7
8.Tax provision 1.3 1.2 1.3 1.0 1.3 1.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 7.7 -53.8 -55.7 45.9 -41.4 -18.0
2.Retention in business (D7-D8-D9) 10.9 -36.4 -54.9 48.4 -24.3 -25.9
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 27.3 -21.3 -40.2 61.3 -10.5 -12.8
2.Depreciation for the year plus changes in capital employed (C3+E1) 24.1 -38.7 -41.0 58.8 -27.6 -4.9
5.Return on assets (D7 as % of C4) 4.1 -13.1 -20.8 19.9 -8.7 -9.4
10.Financial expenses as % of operating profit (D6 as % of D5) 34.8 - - 12.7 -16.2 -7.4
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 10.7 - - 2.0 -5.7 -4.9
3.Net profit margin (D7 as % of D1) 4.1 -13.0 -17.9 21.4 -7.6 -9.9
4.Earning per share before tax (D7/No. of ordinary shares) 1.7 -4.8 -7.3 6.7 -3.1 -3.4
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 1.5 -4.9 -7.5 6.6 -3.3 -3.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 22.9 -9.4 10.6 -23.1 31.5 -17.8
654
Mitchell'S Fruit Farms Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 180.0 198.6 211.1 184.9 210.1 208.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9.1 6.1 11.8 14.7 26.7 10.9
(i)Cash 9.1 6.1 11.8 14.7 26.7 10.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 130.3 114.7 151.4 163.3 185.0 288.7
C.Fixed Assets:
4.Total assets (B4+C2) 398.4 446.4 478.6 481.8 576.3 719.7
D.Operation:
1.Gross sales 850.0 898.6 915.8 863.4 992.5 1190.6
(i)Local sales 850.0 898.6 915.8 863.4 992.5 1190.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 699.7 779.9 790.8 758.7 832.2 1000.8
3.Gross profit 150.3 118.7 125.0 104.7 160.3 189.8
8.Tax provision 16.0 12.0 4.1 3.8 4.4 0.4
F.Cash Flow Data
655
Mubarak Dairies Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus -134.6 -134.6 -134.6 -56.6 -57.8 -57.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.2 0.2 0.2 0.0 0.0 0.0
(i)Cash 0.2 0.2 0.2 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 84.9 84.9 84.9 29.1 0.9 0.9
D.Operation:
1.Gross sales 21.8 21.8 21.8 0.0 0.0 0.0
(i)Local sales 21.8 21.8 21.8 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 34.3 34.3 34.3 0.0 0.0 0.0
3.Gross profit -12.5 -12.5 -12.5 0.0 0.0 0.0
8.Tax provision 0.1 0.1 0.1 0.0 0.0 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -267.8 -267.8 -267.8 0.0 -3.2 20.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) -0.3 -0.3 -0.3 0.0 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 0.0 0.0 0.0 -100.0 - -
656
Murree Brewery Company Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 729.1 771.7 875.7 958.0 1068.7 3281.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 158.5 206.2 292.1 214.8 333.4 113.7
(i)Cash 13.2 129.4 221.6 139.0 151.3 113.7
(ii)Investments 145.3 76.8 70.5 75.8 182.1 0.0
3.Inventories 145.7 132.1 174.2 269.1 347.6 492.7
C.Fixed Assets:
4.Total assets (B4+C2) 1098.5 1198.9 1237.4 1448.6 1609.3 3907.3
D.Operation:
1.Gross sales 719.9 910.6 1142.7 1672.5 2422.0 2541.3
(i)Local sales 719.9 910.6 1142.7 1672.5 2422.0 2541.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 577.1 718.7 895.2 1373.0 2009.9 2034.6
3.Gross profit 142.8 191.9 247.5 299.5 412.1 506.7
8.Tax provision 25.2 41.0 53.0 23.8 81.5 101.9
F.Cash Flow Data
657
National Foods Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 76.4 107.6 136.8 202.5 322.6 458.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.0 2.9 5.6 83.0 18.1 13.5
(i)Cash 1.0 2.9 5.6 83.0 18.1 13.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 209.0 273.9 356.7 367.2 477.0 755.3
C.Fixed Assets:
4.Total assets (B4+C2) 464.1 561.4 704.5 963.9 1185.6 1744.5
D.Operation:
1.Gross sales 1511.1 1742.4 2070.8 2465.4 3147.3 4042.0
(i)Local sales 1366.0 1554.9 1850.4 2251.3 2869.3 3653.2
(ii)Export sales 145.1 187.5 220.4 214.1 278.0 388.8
2.Cost of Sales 1200.9 1358.2 1673.6 1894.2 2328.9 3056.3
3.Gross profit 310.2 384.2 397.2 571.2 818.4 985.7
8.Tax provision 8.0 18.5 12.0 37.0 38.0 42.0
F.Cash Flow Data
658
Nestle Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 618.0 1185.3 1411.7 1942.6 3565.8 3885.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 108.6 139.2 859.0 34.7 406.2 419.3
(i)Cash 62.7 93.3 859.0 34.7 406.2 419.3
(ii)Investments 45.9 45.9 0.0 0.0 0.0 0.0
3.Inventories 863.1 1693.8 1493.0 1907.3 2393.3 2488.6
C.Fixed Assets:
4.Total assets (B4+C2) 3840.3 5611.2 8659.2 12792.9 15756.1 16634.5
D.Operation:
1.Gross sales 10979.7 13599.4 18785.8 24062.0 30455.5 36129.6
(i)Local sales 10432.6 12903.1 17784.2 22706.7 28552.7 33922.7
(ii)Export sales 547.1 696.3 1001.6 1355.3 1902.8 2206.9
2.Cost of Sales 7929.6 10003.6 14000.5 17809.4 22511.3 27177.3
3.Gross profit 3050.1 3595.8 4785.3 6252.6 7944.2 8952.3
8.Tax provision 351.0 442.2 382.1 110.7 315.7 791.7
F.Cash Flow Data
659
Noon Pakistan Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 55.5 55.9 71.3 52.7 52.5 77.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.6 16.7 33.5 39.9 14.3 29.3
(i)Cash 5.6 16.7 33.5 39.9 14.3 29.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 20.5 37.8 44.3 30.2 44.3 73.4
C.Fixed Assets:
4.Total assets (B4+C2) 149.4 381.3 520.2 548.6 553.1 748.2
D.Operation:
1.Gross sales 319.3 329.0 956.8 1160.9 1168.2 1657.2
(i)Local sales 319.3 329.0 956.8 1160.9 1168.2 1657.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 271.7 287.7 814.1 1020.2 1004.4 1445.8
3.Gross profit 47.6 41.3 142.7 140.7 163.8 211.4
8.Tax provision 2.9 1.5 4.4 5.5 5.8 8.2
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 1150.0 9.9 -12.7 58.4 -92.0 61.4
660
Pace (Pakistan) Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus - - - - 969.1 2345.6
5.Debentures - - - - 0.0 1499.4
B.Liquidity:
1.Liquid Assets: - - - - 2059.2 5496.0
(i)Cash - - - - 307.9 1314.9
(ii)Investments - - - - 1751.3 4181.1
3.Inventories - - - - 751.4 1189.8
7.Net Current Assets(B4-B5) - - - - 2972.0 5569.3
9.Net liquid assets (B1-B5) - - - - 1483.4 3015.1
C.Fixed Assets:
4.Total assets (B4+C2) - - - - 3804.2 8550.6
D.Operation:
1.Gross sales - - - - 612.7 1523.9
(i)Local sales - - - - 612.7 1523.9
(ii)Export sales - - - - 0.0 0.0
2.Cost of Sales - - - - 381.2 984.0
3.Gross profit - - - - 231.5 539.9
8.Tax provision - - - - 3.8 11.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - - - 2841.2
2.Retention in business (D7-D8-D9) - - - - 161.4 1422.9
3.Finance from outside the company (E1-E2) - - - - - 1418.3
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - - 174.7 1444.7
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - - - 2863.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - - 150.0 160.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - - - 148.7
661
Pak Leather Crafts Ltd. (Million Rupees)
Items
2003 2004 2005 2006 2007 2008
2.Surplus 24.4 25.9 34.9 34.4 36.6 38.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.0 11.9 7.5 8.7 10.0 1.6
(i)Cash 3.0 11.9 7.5 8.7 10.0 1.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 271.2 269.6 351.8 339.1 338.0 396.4
C.Fixed Assets:
2.Fixed a

Balance Sheet Analysis by SBP

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Balance Sheet Analysis by SBP

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BALANCE SHEET ANALYSIS

JOINT STOCK COMPANIES

LISTED ON THE KARACHI STOCK EXCHANGE

STATE BANK OF PAKISTAN

 Dr. Ishaque Ahmed Ansari Sr. Joint Director

 Sajjad Hussain Joint Director

 Muhammad Jaweed Akhtar Jr. Joint Director

 Muhammad Suhail Jr. Joint Director

 Dr. Azizullah Khattak Director

Total: 463 451 443 436 437 436

The publication is based on the two sets of analysis:

(a) Overall summary:

(b) Company-wise analysis:

1. Ordinary Share Capital

6. Other Fixed Liabilities

7. Total Fixed Liabilities

8. Total Capital Employed

It is the sum of shareholders‟ equity and total fixed liabilities.

c) Other Current Assets

The following items are taken as other current assets:

(a) Sundry Creditors

(i) Income tax payable

(b) Payment become due but outstanding

(i) Income tax payable

(i) Loans secured by stock or other current assets

10. Total Liabilities

11. Net Current Assets

12. Contractual Liabilities

13. Net Liquid Assets

This is the difference of liquid assets and the current liabilities.

1. Fixed Assets at Cost

(i) Freehold and leasehold land

(b)Plant, Machinery and Rolling Stock

2. Fixed Assets After Deducting Accumulated Depreciation

3. Depreciation for the year

Subtracting cost of sales from sales revenue arrives at gross profit.

3. Overhead and Other Expenses

7. Net Profit before Tax Provision

It is provision of taxation made on current year‟s profit.

9. Total Amount of Dividend

10. Total Value of Bonus Shares Issued

E. Source of Increase in Capital Employed

1.Increase/ Decrease in Capital Employed

3. Finance from outside the company

1. Depreciation for the year plus Retention in Business

2. Depreciation for the year plus changes in Capital Employed

G. Operating Financial & Investment Ratios

3. Acid Tests or Quick Ratio

4. Debt Equity Ratio

6. Self -Financing Ratio

8. Shareholders’ Equity as % of Ordinary Share Capital

9. Overhead and Other Expenses as % of Gross Sales

10. Financial Expenses as % of Operating Profit

10. Financial Expenses as % of Gross Sales

11. Financial Expenses as % of Contractual Liabilities

It shows cost incurred (interest/mark up paid) on contractual liabilities.

13. Tax Provision as % of Net Pre-tax Profit

14. Sundry Debtors as % of Gross Sales

15. Net Profit as % of Shareholders’ Equity

1. Dividend Cover Ratio

The ratio of net profit after tax to total amount of dividend.

2. Dividend Ratio to Equity

3. Net Profit Margin.